Investment Company Act file number | 811-08532 | |||||||||||||||||||
AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS, INC. | ||||||||||||||||||||
(Exact name of registrant as specified in charter) | ||||||||||||||||||||
4500 MAIN STREET, KANSAS CITY, MISSOURI | 64111 | |||||||||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
JOHN PAK 4500 MAIN STREET, KANSAS CITY, MISSOURI 64111 | ||||||||||||||||||||
(Name and address of agent for service) | ||||||||||||||||||||
Registrant’s telephone number, including area code: | 816-531-5575 | |||||||||||||||||||
Date of fiscal year end: | 07-31 | |||||||||||||||||||
Date of reporting period: | 07-31-2022 |
Annual Report | |||||
July 31, 2022 | |||||
Strategic Allocation: Aggressive Fund | |||||
Investor Class (TWSAX) | |||||
I Class (AAAIX) | |||||
A Class (ACVAX) | |||||
C Class (ASTAX) | |||||
R Class (AAARX) | |||||
R5 Class (ASAUX) | |||||
R6 Class (AAAUX) |
Table of Contents |
President’s Letter | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Shareholder Fee Example | |||||
Schedule of Investments | |||||
Statement of Assets and Liabilities | |||||
Statement of Operations | |||||
Statement of Changes in Net Assets | |||||
Notes to Financial Statements | |||||
Financial Highlights | |||||
Report of Independent Registered Public Accounting Firm | |||||
Management | |||||
Approval of Management Agreement | |||||
Liquidity Risk Management Program | |||||
Additional Information | |||||
President’s Letter |
Performance |
Total Returns as of July 31, 2022 | ||||||||||||||||||||
Average Annual Returns | ||||||||||||||||||||
Ticker Symbol | 1 year | 5 years | 10 years | Since Inception | Inception Date | |||||||||||||||
Investor Class | TWSAX | -10.38% | 7.71% | 8.74% | — | 2/15/96 | ||||||||||||||
S&P 500 Index | — | -4.64% | 12.82% | 13.79% | — | — | ||||||||||||||
Bloomberg U.S. Aggregate Bond Index | — | -9.12% | 1.28% | 1.65% | — | — | ||||||||||||||
Bloomberg U.S. 1-3 Month Treasury Bill Index | — | 0.26% | 1.05% | 0.60% | — | — | ||||||||||||||
I Class | AAAIX | -10.28% | 7.92% | 8.96% | — | 8/1/00 | ||||||||||||||
A Class | ACVAX | — | 10/2/96 | |||||||||||||||||
No sales charge | -10.64% | 7.44% | 8.47% | — | ||||||||||||||||
With sales charge | -15.77% | 6.19% | 7.83% | — | ||||||||||||||||
C Class | ASTAX | -11.30% | 6.62% | 7.66% | — | 11/27/01 | ||||||||||||||
R Class | AAARX | -10.88% | 7.17% | 8.20% | — | 3/31/05 | ||||||||||||||
R5 Class | ASAUX | -10.28% | 7.90% | — | 8.56% | 4/10/17 | ||||||||||||||
R6 Class | AAAUX | -10.05% | 8.09% | — | 8.16% | 7/26/13 |
Growth of $10,000 Over 10 Years | ||
$10,000 investment made July 31, 2012 | ||
Performance for other share classes will vary due to differences in fee structure. |
Value on July 31, 2022 | |||||
Investor Class — $23,131 | |||||
S&P 500 Index — $36,428 | |||||
Bloomberg U.S. Aggregate Bond Index — $11,776 | |||||
Bloomberg U.S. 1-3 Month Treasury Bill Index — $10,621 | |||||
Total Annual Fund Operating Expenses | ||||||||||||||||||||
Investor Class | I Class | A Class | C Class | R Class | R5 Class | R6 Class | ||||||||||||||
1.33% | 1.13% | 1.58% | 2.33% | 1.83% | 1.13% | 0.98% |
Portfolio Commentary |
Fund Characteristics |
JULY 31, 2022 | |||||
Types of Investments in Portfolio | % of net assets | ||||
Affiliated Funds | 54.7% | ||||
Common Stocks | 30.3% | ||||
U.S. Treasury Securities | 5.2% | ||||
Sovereign Governments and Agencies | 2.7% | ||||
Corporate Bonds | 1.6% | ||||
Collateralized Loan Obligations | 0.6% | ||||
Asset-Backed Securities | 0.3% | ||||
Preferred Stocks | 0.3% | ||||
Collateralized Mortgage Obligations | 0.2% | ||||
Municipal Securities | 0.1% | ||||
Exchange-Traded Funds | 0.1% | ||||
U.S. Government Agency Mortgage-Backed Securities | 0.1% | ||||
Short-Term Investments | 3.9% | ||||
Other Assets and Liabilities | (0.1)% |
Shareholder Fee Example |
Beginning Account Value 2/1/22 | Ending Account Value 7/31/22 | Expenses Paid During Period(1) 2/1/22 - 7/31/22 | Annualized Expense Ratio(1) | |||||||||||
Actual | ||||||||||||||
Investor Class | $1,000 | $917.20 | $2.99 | 0.63% | ||||||||||
I Class | $1,000 | $917.60 | $2.04 | 0.43% | ||||||||||
A Class | $1,000 | $915.70 | $4.18 | 0.88% | ||||||||||
C Class | $1,000 | $912.60 | $7.73 | 1.63% | ||||||||||
R Class | $1,000 | $915.60 | $5.37 | 1.13% | ||||||||||
R5 Class | $1,000 | $917.60 | $2.04 | 0.43% | ||||||||||
R6 Class | $1,000 | $919.80 | $1.33 | 0.28% | ||||||||||
Hypothetical | ||||||||||||||
Investor Class | $1,000 | $1,021.67 | $3.16 | 0.63% | ||||||||||
I Class | $1,000 | $1,022.66 | $2.16 | 0.43% | ||||||||||
A Class | $1,000 | $1,020.43 | $4.41 | 0.88% | ||||||||||
C Class | $1,000 | $1,016.71 | $8.15 | 1.63% | ||||||||||
R Class | $1,000 | $1,019.19 | $5.66 | 1.13% | ||||||||||
R5 Class | $1,000 | $1,022.66 | $2.16 | 0.43% | ||||||||||
R6 Class | $1,000 | $1,023.41 | $1.40 | 0.28% |
Schedule of Investments |
Shares/ Principal Amount | Value | ||||||||||
AFFILIATED FUNDS(1) — 54.7% | |||||||||||
American Century Diversified Corporate Bond ETF | 288,278 | $ | 13,697,126 | ||||||||
American Century Emerging Markets Bond ETF | 133,102 | 5,182,992 | |||||||||
American Century Focused Dynamic Growth ETF(2) | 526,227 | 31,492,265 | |||||||||
American Century Focused Large Cap Value ETF | 715,221 | 42,098,623 | |||||||||
American Century Multisector Income ETF | 531,791 | 23,858,378 | |||||||||
American Century Quality Diversified International ETF | 690,784 | 28,342,798 | |||||||||
American Century STOXX U.S. Quality Growth ETF | 527,613 | 32,959,984 | |||||||||
American Century STOXX U.S. Quality Value ETF | 884,288 | 43,020,876 | |||||||||
Avantis Emerging Markets Equity ETF | 742,776 | 38,564,930 | |||||||||
Avantis International Equity ETF | 526,129 | 28,132,118 | |||||||||
Avantis International Small Cap Value ETF | 149,924 | 8,392,746 | |||||||||
Avantis U.S. Equity ETF | 622,975 | 44,231,225 | |||||||||
Avantis U.S. Small Cap Value ETF | 211,403 | 16,011,663 | |||||||||
TOTAL AFFILIATED FUNDS (Cost $314,385,194) | 355,985,724 | ||||||||||
COMMON STOCKS — 30.3% | |||||||||||
Aerospace and Defense — 0.5% | |||||||||||
Aerojet Rocketdyne Holdings, Inc.(2) | 2,184 | 95,419 | |||||||||
CAE, Inc.(2) | 20,321 | 537,640 | |||||||||
Curtiss-Wright Corp. | 3,147 | 451,406 | |||||||||
HEICO Corp. | 3,345 | 527,540 | |||||||||
Hensoldt AG | 2,831 | 72,585 | |||||||||
Huntington Ingalls Industries, Inc. | 2,312 | 501,334 | |||||||||
Leonardo SpA | 9,508 | 89,058 | |||||||||
Lockheed Martin Corp. | 1,209 | 500,296 | |||||||||
Mercury Systems, Inc.(2) | 1,816 | 107,162 | |||||||||
QinetiQ Group PLC | 14,452 | 67,308 | |||||||||
Thales SA | 2,956 | 367,607 | |||||||||
3,317,355 | |||||||||||
Air Freight and Logistics — 0.1% | |||||||||||
United Parcel Service, Inc., Class B | 2,765 | 538,871 | |||||||||
Airlines — 0.1% | |||||||||||
Southwest Airlines Co.(2) | 22,364 | 852,516 | |||||||||
Auto Components — 0.6% | |||||||||||
Aptiv PLC(2) | 8,989 | 942,856 | |||||||||
BorgWarner, Inc. | 20,688 | 795,661 | |||||||||
Bridgestone Corp. | 3,600 | 140,421 | |||||||||
CIE Automotive SA(3) | 1,407 | 37,012 | |||||||||
Continental AG | 9,240 | 658,268 | |||||||||
Fox Factory Holding Corp.(2) | 996 | 94,281 | |||||||||
Hyundai Mobis Co. Ltd. | 1,733 | 305,020 | |||||||||
Linamar Corp. | 10,356 | 472,128 | |||||||||
Sumitomo Rubber Industries Ltd. | 30,400 | 274,098 | |||||||||
3,719,745 | |||||||||||
Automobiles — 0.4% | |||||||||||
Bayerische Motoren Werke AG | 12,063 | 985,708 |
Shares/ Principal Amount | Value | ||||||||||
Mercedes-Benz Group AG | 17,039 | $ | 1,004,858 | ||||||||
Tesla, Inc.(2) | 858 | 764,864 | |||||||||
2,755,430 | |||||||||||
Banks — 1.6% | |||||||||||
AIB Group PLC | 33,384 | 75,937 | |||||||||
Banco Bilbao Vizcaya Argentaria SA | 97,831 | 443,338 | |||||||||
Banco Bradesco SA | 161,989 | 453,961 | |||||||||
Banco de Sabadell SA | 75,994 | 48,656 | |||||||||
Banco do Brasil SA | 73,100 | 510,729 | |||||||||
Bancorp, Inc.(2) | 2,984 | 73,406 | |||||||||
Bank Central Asia Tbk PT | 859,900 | 427,594 | |||||||||
Bank of America Corp. | 4,063 | 137,370 | |||||||||
Barclays PLC | 349,707 | 669,886 | |||||||||
BNP Paribas SA | 11,502 | 543,438 | |||||||||
Commerce Bancshares, Inc. | 320 | 22,237 | |||||||||
First Hawaiian, Inc. | 30,553 | 778,796 | |||||||||
Fukuoka Financial Group, Inc. | 6,300 | 111,666 | |||||||||
HDFC Bank Ltd., ADR | 6,257 | 392,940 | |||||||||
HSBC Holdings PLC | 78,400 | 492,365 | |||||||||
JPMorgan Chase & Co. | 4,996 | 576,339 | |||||||||
Jyske Bank A/S(2) | 1,695 | 88,710 | |||||||||
Mitsubishi UFJ Financial Group, Inc. | 62,700 | 353,283 | |||||||||
Mizuho Financial Group, Inc. | 30,050 | 358,387 | |||||||||
Prosperity Bancshares, Inc. | 10,802 | 800,320 | |||||||||
Regions Financial Corp. | 26,754 | 566,650 | |||||||||
Silvergate Capital Corp., Class A(2) | 825 | 76,964 | |||||||||
Standard Chartered PLC (London) | 56,352 | 388,417 | |||||||||
Sumitomo Mitsui Financial Group, Inc. | 11,100 | 348,230 | |||||||||
Truist Financial Corp. | 16,386 | 827,001 | |||||||||
UniCredit SpA | 40,884 | 404,330 | |||||||||
Westamerica Bancorporation | 5,249 | 314,992 | |||||||||
10,285,942 | |||||||||||
Beverages — 0.3% | |||||||||||
Celsius Holdings, Inc.(2) | 7,543 | 671,025 | |||||||||
Duckhorn Portfolio, Inc.(2) | 4,613 | 84,602 | |||||||||
MGP Ingredients, Inc. | 1,474 | 155,035 | |||||||||
PepsiCo, Inc. | 4,179 | 731,158 | |||||||||
Pernod Ricard SA | 1,062 | 208,624 | |||||||||
Royal Unibrew A/S | 1,028 | 87,672 | |||||||||
1,938,116 | |||||||||||
Biotechnology — 0.9% | |||||||||||
AbbVie, Inc. | 3,526 | 506,016 | |||||||||
ADC Therapeutics SA(2)(3) | 3,201 | 23,719 | |||||||||
Alnylam Pharmaceuticals, Inc.(2) | 1,485 | 210,929 | |||||||||
Amgen, Inc. | 701 | 173,476 | |||||||||
Arcus Biosciences, Inc.(2) | 786 | 20,900 | |||||||||
Arcutis Biotherapeutics, Inc.(2) | 3,799 | 92,164 | |||||||||
Biohaven Pharmaceutical Holding Co. Ltd.(2) | 1,373 | 200,485 | |||||||||
Blueprint Medicines Corp.(2) | 1,348 | 68,829 | |||||||||
Bridgebio Pharma, Inc.(2) | 2,351 | 20,360 | |||||||||
Celldex Therapeutics, Inc.(2) | 1,393 | 42,793 |
Shares/ Principal Amount | Value | ||||||||||
Centessa Pharmaceuticals PLC, ADR(2)(3) | 3,831 | $ | 16,550 | ||||||||
CSL Ltd. | 2,949 | 600,467 | |||||||||
Cytokinetics, Inc.(2) | 2,979 | 126,101 | |||||||||
Erasca, Inc.(2)(3) | 2,362 | 17,810 | |||||||||
Fate Therapeutics, Inc.(2)(3) | 1,601 | 48,879 | |||||||||
Global Blood Therapeutics, Inc.(2) | 2,660 | 87,035 | |||||||||
Halozyme Therapeutics, Inc.(2) | 3,647 | 178,338 | |||||||||
Horizon Therapeutics PLC(2) | 7,399 | 613,895 | |||||||||
Insmed, Inc.(2) | 4,337 | 95,934 | |||||||||
Intellia Therapeutics, Inc.(2) | 544 | 35,229 | |||||||||
Iovance Biotherapeutics, Inc.(2) | 1,184 | 13,794 | |||||||||
KalVista Pharmaceuticals, Inc.(2) | 3,504 | 43,274 | |||||||||
Karuna Therapeutics, Inc.(2) | 444 | 57,831 | |||||||||
Kinnate Biopharma, Inc.(2)(3) | 2,376 | 25,423 | |||||||||
Kymera Therapeutics, Inc.(2) | 1,525 | 33,596 | |||||||||
Natera, Inc.(2) | 2,283 | 107,301 | |||||||||
Neurocrine Biosciences, Inc.(2) | 7,658 | 720,848 | |||||||||
Relay Therapeutics, Inc.(2) | 1,554 | 29,557 | |||||||||
Sarepta Therapeutics, Inc.(2) | 9,116 | 847,332 | |||||||||
Seagen, Inc.(2) | 4,006 | 721,000 | |||||||||
Vertex Pharmaceuticals, Inc.(2) | 671 | 188,155 | |||||||||
Vitrolife AB | 1,449 | 47,274 | |||||||||
6,015,294 | |||||||||||
Building Products — 0.4% | |||||||||||
Cie de Saint-Gobain | 9,693 | 451,983 | |||||||||
Hayward Holdings, Inc.(2) | 8,241 | 96,172 | |||||||||
Johnson Controls International PLC | 8,235 | 443,949 | |||||||||
Masco Corp. | 4,162 | 230,492 | |||||||||
Masonite International Corp.(2) | 780 | 71,003 | |||||||||
Sanwa Holdings Corp. | 7,100 | 76,699 | |||||||||
Trane Technologies PLC | 5,058 | 743,475 | |||||||||
Trex Co., Inc.(2) | 1,080 | 69,682 | |||||||||
Zurn Elkay Water Solutions Corp. | 12,079 | 349,687 | |||||||||
2,533,142 | |||||||||||
Capital Markets — 1.3% | |||||||||||
Ameriprise Financial, Inc. | 3,382 | 912,869 | |||||||||
Ares Management Corp., Class A | 4,347 | 311,463 | |||||||||
Bank of New York Mellon Corp. | 27,505 | 1,195,367 | |||||||||
BlackRock, Inc. | 608 | 406,861 | |||||||||
Intercontinental Exchange, Inc. | 1,711 | 174,505 | |||||||||
LPL Financial Holdings, Inc. | 5,717 | 1,200,113 | |||||||||
Morgan Stanley | 7,871 | 663,525 | |||||||||
MSCI, Inc. | 1,565 | 753,297 | |||||||||
Northern Trust Corp. | 12,835 | 1,280,676 | |||||||||
Open Lending Corp., Class A(2) | 4,353 | 45,097 | |||||||||
S&P Global, Inc. | 1,279 | 482,094 | |||||||||
State Street Corp. | 2,499 | 177,529 | |||||||||
T. Rowe Price Group, Inc. | 7,167 | 884,910 | |||||||||
8,488,306 | |||||||||||
Chemicals — 0.7% | |||||||||||
Air Liquide SA | 2,520 | 346,455 |
Shares/ Principal Amount | Value | ||||||||||
Air Products and Chemicals, Inc. | 753 | $ | 186,917 | ||||||||
Akzo Nobel NV | 6,102 | 410,667 | |||||||||
Albemarle Corp. | 531 | 129,729 | |||||||||
Avient Corp. | 7,770 | 335,275 | |||||||||
Axalta Coating Systems Ltd.(2) | 16,323 | 411,666 | |||||||||
Diversey Holdings Ltd.(2) | 18,789 | 140,730 | |||||||||
Ecolab, Inc. | 1,203 | 198,699 | |||||||||
Element Solutions, Inc. | 28,260 | 558,418 | |||||||||
K+S AG | 917 | 19,336 | |||||||||
Koninklijke DSM NV | 2,994 | 479,486 | |||||||||
Linde PLC | 1,801 | 543,902 | |||||||||
OCI NV | 640 | 22,219 | |||||||||
Sherwin-Williams Co. | 367 | 88,792 | |||||||||
Sika AG | 1,036 | 255,983 | |||||||||
Symrise AG | 3,687 | 430,220 | |||||||||
Tokyo Ohka Kogyo Co. Ltd. | 700 | 36,295 | |||||||||
4,594,789 | |||||||||||
Commercial Services and Supplies — 0.2% | |||||||||||
Brink's Co. | 2,354 | 134,037 | |||||||||
Clean Harbors, Inc.(2) | 1,538 | 150,093 | |||||||||
Cleanaway Waste Management Ltd. | 14,574 | 28,076 | |||||||||
Driven Brands Holdings, Inc.(2) | 7,573 | 230,068 | |||||||||
Elis SA | 5,397 | 80,555 | |||||||||
GFL Environmental, Inc. | 13,145 | 363,459 | |||||||||
Republic Services, Inc. | 1,712 | 237,386 | |||||||||
SPIE SA | 3,346 | 80,354 | |||||||||
1,304,028 | |||||||||||
Communications Equipment — 0.5% | |||||||||||
Arista Networks, Inc.(2) | 10,888 | 1,269,867 | |||||||||
Cisco Systems, Inc. | 17,006 | 771,562 | |||||||||
F5, Inc.(2) | 6,891 | 1,153,278 | |||||||||
Juniper Networks, Inc. | 5,487 | 153,801 | |||||||||
3,348,508 | |||||||||||
Construction and Engineering — 0.2% | |||||||||||
Arcadis NV | 1,229 | 45,443 | |||||||||
Construction Partners, Inc., Class A(2) | 6,460 | 153,619 | |||||||||
Eiffage SA | 4,213 | 395,344 | |||||||||
Hazama Ando Corp. | 12,100 | 81,454 | |||||||||
SHO-BOND Holdings Co. Ltd. | 1,600 | 70,791 | |||||||||
Vinci SA | 3,423 | 328,124 | |||||||||
1,074,775 | |||||||||||
Construction Materials† | |||||||||||
Eagle Materials, Inc. | 617 | 78,020 | |||||||||
Summit Materials, Inc., Class A(2) | 4,259 | 117,165 | |||||||||
195,185 | |||||||||||
Consumer Finance† | |||||||||||
American Express Co. | 1,468 | 226,101 | |||||||||
Containers and Packaging — 0.4% | |||||||||||
Amcor PLC | 8,966 | 116,110 | |||||||||
AptarGroup, Inc. | 776 | 83,622 | |||||||||
Avery Dennison Corp. | 3,061 | 582,998 |
Shares/ Principal Amount | Value | ||||||||||
Ball Corp. | 4,237 | $ | 311,080 | ||||||||
Graphic Packaging Holding Co. | 5,394 | 120,016 | |||||||||
Huhtamaki Oyj | 2,669 | 104,034 | |||||||||
Packaging Corp. of America | 4,593 | 645,822 | |||||||||
SIG Group AG(2) | 4,055 | 105,788 | |||||||||
Sonoco Products Co. | 7,190 | 456,493 | |||||||||
2,525,963 | |||||||||||
Distributors† | |||||||||||
D'ieteren Group | 749 | 122,930 | |||||||||
Diversified Consumer Services† | |||||||||||
European Wax Center, Inc., Class A | 5,537 | 115,834 | |||||||||
IDP Education Ltd. | 3,549 | 71,405 | |||||||||
187,239 | |||||||||||
Diversified Financial Services† | |||||||||||
Zenkoku Hosho Co. Ltd. | 1,700 | 57,836 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
Cellnex Telecom SA | 7,487 | 334,886 | |||||||||
IHS Holding Ltd.(2) | 2,767 | 23,824 | |||||||||
Internet Initiative Japan, Inc. | 1,900 | 77,147 | |||||||||
Verizon Communications, Inc. | 11,183 | 516,543 | |||||||||
952,400 | |||||||||||
Electric Utilities — 0.6% | |||||||||||
Acciona SA(3) | 526 | 108,235 | |||||||||
Contact Energy Ltd. | 5,763 | 27,802 | |||||||||
Edison International | 15,623 | 1,058,771 | |||||||||
Evergy, Inc. | 2,147 | 146,554 | |||||||||
Eversource Energy | 2,260 | 199,377 | |||||||||
Iberdrola SA | 51,205 | 546,791 | |||||||||
IDACORP, Inc. | 658 | 73,512 | |||||||||
NextEra Energy, Inc. | 10,933 | 923,729 | |||||||||
Pinnacle West Capital Corp. | 7,473 | 549,041 | |||||||||
3,633,812 | |||||||||||
Electrical Equipment — 1.0% | |||||||||||
AMETEK, Inc. | 6,355 | 784,842 | |||||||||
Atkore, Inc.(2) | 2,555 | 253,635 | |||||||||
Eaton Corp. PLC | 2,199 | 326,310 | |||||||||
Emerson Electric Co. | 12,094 | 1,089,307 | |||||||||
Generac Holdings, Inc.(2) | 1,792 | 480,794 | |||||||||
Hexatronic Group AB(3) | 9,073 | 110,063 | |||||||||
Hubbell, Inc. | 921 | 201,717 | |||||||||
Nexans SA | 814 | 78,180 | |||||||||
nVent Electric PLC | 35,092 | 1,239,098 | |||||||||
Plug Power, Inc.(2)(3) | 7,784 | 166,110 | |||||||||
Regal Rexnord Corp. | 4,446 | 597,098 | |||||||||
Rockwell Automation, Inc. | 1,564 | 399,258 | |||||||||
Schneider Electric SE | 4,577 | 633,017 | |||||||||
Sensata Technologies Holding PLC | 2,716 | 120,780 | |||||||||
Ushio, Inc. | 5,200 | 71,896 | |||||||||
6,552,105 | |||||||||||
Electronic Equipment, Instruments and Components — 0.6% | |||||||||||
CDW Corp. | 2,325 | 422,057 |
Shares/ Principal Amount | Value | ||||||||||
Cognex Corp. | 14,363 | $ | 732,226 | ||||||||
Hexagon AB, B Shares | 24,429 | 287,640 | |||||||||
Jabil, Inc. | 1,972 | 117,019 | |||||||||
Keyence Corp. | 1,100 | 435,976 | |||||||||
Keysight Technologies, Inc.(2) | 8,680 | 1,411,368 | |||||||||
National Instruments Corp. | 3,107 | 118,066 | |||||||||
Sesa SpA | 252 | 35,768 | |||||||||
TE Connectivity Ltd. | 3,892 | 520,477 | |||||||||
4,080,597 | |||||||||||
Energy Equipment and Services — 0.2% | |||||||||||
Aker Solutions ASA | 24,948 | 77,330 | |||||||||
Baker Hughes Co. | 15,622 | 401,329 | |||||||||
Schlumberger NV | 22,342 | 827,324 | |||||||||
Worley Ltd. | 6,306 | 63,642 | |||||||||
1,369,625 | |||||||||||
Entertainment — 0.3% | |||||||||||
CTS Eventim AG & Co. KGaA(2) | 184 | 10,135 | |||||||||
Electronic Arts, Inc. | 1,445 | 189,627 | |||||||||
Live Nation Entertainment, Inc.(2) | 4,038 | 379,532 | |||||||||
ROBLOX Corp., Class A(2) | 3,022 | 129,735 | |||||||||
Roku, Inc.(2) | 2,460 | 161,179 | |||||||||
Universal Music Group NV | 19,132 | 433,082 | |||||||||
Walt Disney Co.(2) | 3,272 | 347,159 | |||||||||
1,650,449 | |||||||||||
Equity Real Estate Investment Trusts (REITs) — 1.6% | |||||||||||
Agree Realty Corp. | 2,145 | 170,721 | |||||||||
Alexandria Real Estate Equities, Inc. | 641 | 106,265 | |||||||||
American Homes 4 Rent, Class A | 1,885 | 71,404 | |||||||||
American Tower Corp. | 247 | 66,895 | |||||||||
Americold Realty Trust, Inc. | 2,720 | 89,080 | |||||||||
Arena REIT | 8,700 | 29,533 | |||||||||
AvalonBay Communities, Inc. | 497 | 106,328 | |||||||||
Big Yellow Group PLC | 1,341 | 23,262 | |||||||||
Camden Property Trust | 1,120 | 158,032 | |||||||||
CapitaLand Integrated Commercial Trust | 31,500 | 49,761 | |||||||||
Comforia Residential REIT, Inc.(3) | 27 | 68,196 | |||||||||
Corporate Office Properties Trust | 1,606 | 45,209 | |||||||||
Digital Realty Trust, Inc. | 1,080 | 143,046 | |||||||||
Dream Industrial Real Estate Investment Trust | 2,077 | 20,469 | |||||||||
Duke Realty Corp. | 1,409 | 88,147 | |||||||||
Embassy Office Parks REIT | 5,523 | 25,391 | |||||||||
Equinix, Inc. | 1,297 | 912,751 | |||||||||
Equity LifeStyle Properties, Inc. | 1,386 | 101,899 | |||||||||
Essential Properties Realty Trust, Inc. | 2,987 | 72,046 | |||||||||
Essex Property Trust, Inc. | 1,707 | 489,107 | |||||||||
GLP J-Reit | 38 | 49,976 | |||||||||
Goodman Group | 7,709 | 112,822 | |||||||||
Healthcare Realty Trust, Inc., Class A | 13,979 | 366,949 | |||||||||
Healthpeak Properties, Inc. | 27,741 | 766,484 | |||||||||
Host Hotels & Resorts, Inc. | 5,176 | 92,185 | |||||||||
Invincible Investment Corp. | 347 | 109,160 |
Shares/ Principal Amount | Value | ||||||||||
Invitation Homes, Inc. | 3,137 | $ | 122,437 | ||||||||
Iron Mountain, Inc. | 1,603 | 77,729 | |||||||||
Japan Hotel REIT Investment Corp. | 271 | 140,637 | |||||||||
Kimco Realty Corp. | 5,776 | 127,707 | |||||||||
Kite Realty Group Trust | 6,012 | 119,579 | |||||||||
Life Storage, Inc. | 574 | 72,261 | |||||||||
Link REIT | 12,300 | 103,004 | |||||||||
NETSTREIT Corp. | 3,135 | 64,267 | |||||||||
Orix JREIT, Inc. | 43 | 61,691 | |||||||||
Prologis, Inc. | 11,164 | 1,479,900 | |||||||||
Public Storage | 744 | 242,849 | |||||||||
Realty Income Corp. | 8,824 | 652,888 | |||||||||
Regency Centers Corp. | 10,254 | 660,665 | |||||||||
Rexford Industrial Realty, Inc. | 8,171 | 534,465 | |||||||||
Ryman Hospitality Properties, Inc.(2) | 2,102 | 186,111 | |||||||||
Sabra Health Care REIT, Inc. | 2,740 | 42,169 | |||||||||
Scentre Group | 20,410 | 41,825 | |||||||||
Segro PLC | 32,420 | 433,714 | |||||||||
Shaftesbury PLC(3) | 4,419 | 27,116 | |||||||||
Shopping Centres Australasia Property Group | 16,653 | 34,754 | |||||||||
SOSiLA Logistics REIT, Inc. | 47 | 54,279 | |||||||||
Suntec Real Estate Investment Trust | 14,000 | 16,352 | |||||||||
Tritax Big Box REIT PLC | 36,147 | 86,967 | |||||||||
UDR, Inc. | 2,765 | 133,826 | |||||||||
Ventas, Inc. | 1,974 | 106,162 | |||||||||
VICI Properties, Inc. | 7,991 | 273,212 | |||||||||
Vicinity Centres | 50,819 | 74,358 | |||||||||
Welltower, Inc. | 2,525 | 218,008 | |||||||||
Weyerhaeuser Co. | 4,284 | 155,595 | |||||||||
10,679,645 | |||||||||||
Food and Staples Retailing — 0.4% | |||||||||||
Axfood AB | 1,321 | 41,940 | |||||||||
BJ's Wholesale Club Holdings, Inc.(2) | 2,187 | 148,060 | |||||||||
Costco Wholesale Corp. | 590 | 319,367 | |||||||||
Grocery Outlet Holding Corp.(2) | 1,879 | 80,271 | |||||||||
Kobe Bussan Co. Ltd. | 13,600 | 387,670 | |||||||||
Koninklijke Ahold Delhaize NV | 31,917 | 878,954 | |||||||||
Kroger Co. | 3,455 | 160,450 | |||||||||
MARR SpA | 2,415 | 33,424 | |||||||||
MatsukiyoCocokara & Co. | 2,500 | 94,389 | |||||||||
Metcash Ltd. | 6,546 | 19,081 | |||||||||
Sysco Corp. | 6,286 | 533,681 | |||||||||
2,697,287 | |||||||||||
Food Products — 0.6% | |||||||||||
Bakkafrost P/F | 714 | 49,777 | |||||||||
Conagra Brands, Inc. | 27,484 | 940,228 | |||||||||
Freshpet, Inc.(2) | 1,770 | 94,589 | |||||||||
General Mills, Inc. | 1,661 | 124,226 | |||||||||
Hershey Co. | 5,594 | 1,275,208 | |||||||||
J.M. Smucker Co. | 3,348 | 443,007 | |||||||||
Kellogg Co. | 1,908 | 141,039 |
Shares/ Principal Amount | Value | ||||||||||
Mondelez International, Inc., Class A | 5,630 | $ | 360,545 | ||||||||
Orkla ASA | 28,871 | 249,222 | |||||||||
Sovos Brands, Inc.(2) | 6,654 | 94,221 | |||||||||
Tate & Lyle PLC | 6,973 | 68,310 | |||||||||
Toyo Suisan Kaisha Ltd. | 2,500 | 106,220 | |||||||||
Vital Farms, Inc.(2) | 1,987 | 23,447 | |||||||||
3,970,039 | |||||||||||
Gas Utilities — 0.2% | |||||||||||
Atmos Energy Corp. | 1,173 | 142,390 | |||||||||
Brookfield Infrastructure Corp., Class A(3) | 1,848 | 84,657 | |||||||||
Italgas SpA | 5,864 | 33,547 | |||||||||
Nippon Gas Co. Ltd. | 6,600 | 99,096 | |||||||||
Spire, Inc. | 10,933 | 822,599 | |||||||||
1,182,289 | |||||||||||
Health Care Equipment and Supplies — 1.0% | |||||||||||
Alcon, Inc. | 6,500 | 511,577 | |||||||||
Baxter International, Inc. | 4,014 | 235,461 | |||||||||
Becton Dickinson and Co. | 974 | 237,958 | |||||||||
CryoPort, Inc.(2) | 2,933 | 109,108 | |||||||||
DENTSPLY SIRONA, Inc. | 8,765 | 316,942 | |||||||||
DexCom, Inc.(2) | 7,708 | 632,673 | |||||||||
Edwards Lifesciences Corp.(2) | 4,195 | 421,765 | |||||||||
Embecta Corp.(2) | 10,909 | 321,052 | |||||||||
Establishment Labs Holdings, Inc.(2)(3) | 1,346 | 79,804 | |||||||||
IDEXX Laboratories, Inc.(2) | 2,221 | 886,579 | |||||||||
Inari Medical, Inc.(2) | 2,180 | 169,124 | |||||||||
Inmode Ltd.(2) | 1,693 | 56,275 | |||||||||
Jeol Ltd. | 1,700 | 77,291 | |||||||||
Koninklijke Philips NV, NY Shares | 9,209 | 190,995 | |||||||||
Medtronic PLC | 973 | 90,022 | |||||||||
Menicon Co. Ltd. | 2,400 | 60,519 | |||||||||
NeuroPace, Inc.(2)(3) | 4,131 | 24,208 | |||||||||
ResMed, Inc. | 426 | 102,461 | |||||||||
SI-BONE, Inc.(2) | 5,863 | 78,799 | |||||||||
Silk Road Medical, Inc.(2) | 3,989 | 181,539 | |||||||||
Tandem Diabetes Care, Inc.(2) | 1,915 | 126,792 | |||||||||
Zimmer Biomet Holdings, Inc. | 13,920 | 1,536,629 | |||||||||
6,447,573 | |||||||||||
Health Care Providers and Services — 1.1% | |||||||||||
Alfresa Holdings Corp. | 1,674 | 22,341 | |||||||||
Amedisys, Inc.(2) | 3,112 | 372,973 | |||||||||
AmerisourceBergen Corp. | 3,904 | 569,711 | |||||||||
Amvis Holdings, Inc.(3) | 2,000 | 70,527 | |||||||||
Cardinal Health, Inc. | 5,625 | 335,025 | |||||||||
Chartwell Retirement Residences | 6,378 | 56,680 | |||||||||
Cigna Corp. | 2,336 | 643,241 | |||||||||
CVS Health Corp. | 5,259 | 503,181 | |||||||||
Encompass Health Corp. | 1,546 | 78,258 | |||||||||
Enhabit, Inc.(2) | 773 | 13,535 | |||||||||
Ensign Group, Inc. | 1,575 | 125,512 | |||||||||
HealthEquity, Inc.(2) | 1,931 | 112,326 | |||||||||
Henry Schein, Inc.(2) | 10,407 | 820,384 |
Shares/ Principal Amount | Value | ||||||||||
Humana, Inc. | 469 | $ | 226,058 | ||||||||
Progyny, Inc.(2) | 2,284 | 69,731 | |||||||||
Quest Diagnostics, Inc. | 6,967 | 951,483 | |||||||||
R1 RCM, Inc.(2) | 18,656 | 466,400 | |||||||||
Signify Health, Inc., Class A(2)(3) | 4,124 | 70,562 | |||||||||
Tenet Healthcare Corp.(2) | 1,592 | 105,263 | |||||||||
UnitedHealth Group, Inc. | 1,485 | 805,375 | |||||||||
Universal Health Services, Inc., Class B | 7,150 | 804,160 | |||||||||
7,222,726 | |||||||||||
Health Care Technology — 0.2% | |||||||||||
Health Catalyst, Inc.(2) | 5,614 | 93,978 | |||||||||
OptimizeRx Corp.(2) | 3,129 | 70,309 | |||||||||
Schrodinger, Inc.(2) | 2,903 | 90,864 | |||||||||
Veeva Systems, Inc., Class A(2) | 3,565 | 797,063 | |||||||||
1,052,214 | |||||||||||
Hotels, Restaurants and Leisure — 0.9% | |||||||||||
Airbnb, Inc., Class A(2) | 6,253 | 693,958 | |||||||||
Basic-Fit NV(2)(3) | 1,821 | 73,855 | |||||||||
Booking Holdings, Inc.(2) | 140 | 270,997 | |||||||||
Chipotle Mexican Grill, Inc.(2) | 827 | 1,293,610 | |||||||||
Churchill Downs, Inc. | 836 | 175,393 | |||||||||
Compass Group PLC | 18,452 | 432,449 | |||||||||
Corporate Travel Management Ltd.(2) | 5,039 | 67,197 | |||||||||
Cracker Barrel Old Country Store, Inc.(3) | 1,284 | 122,070 | |||||||||
Expedia Group, Inc.(2) | 1,128 | 119,624 | |||||||||
Greggs PLC | 1,094 | 27,276 | |||||||||
Hilton Worldwide Holdings, Inc. | 9,744 | 1,247,914 | |||||||||
Planet Fitness, Inc., Class A(2) | 2,569 | 202,463 | |||||||||
Scandic Hotels Group AB(2)(3) | 15,655 | 64,109 | |||||||||
SeaWorld Entertainment, Inc.(2) | 2,078 | 99,183 | |||||||||
Sodexo SA | 6,280 | 510,272 | |||||||||
Wingstop, Inc. | 1,487 | 187,630 | |||||||||
Wyndham Hotels & Resorts, Inc. | 1,495 | 103,768 | |||||||||
5,691,768 | |||||||||||
Household Durables — 0.2% | |||||||||||
Electrolux AB, B Shares | 24,278 | 350,181 | |||||||||
Open House Group Co. Ltd. | 1,100 | 47,988 | |||||||||
Taylor Wimpey PLC | 315,958 | 491,782 | |||||||||
Token Corp. | 1,100 | 73,463 | |||||||||
963,414 | |||||||||||
Household Products — 0.3% | |||||||||||
Colgate-Palmolive Co. | 2,649 | 208,582 | |||||||||
Henkel AG & Co. KGaA, Preference Shares | 4,615 | 294,821 | |||||||||
Kimberly-Clark Corp. | 5,358 | 706,131 | |||||||||
Procter & Gamble Co. | 3,637 | 505,216 | |||||||||
1,714,750 | |||||||||||
Independent Power and Renewable Electricity Producers† | |||||||||||
West Holdings Corp.(3) | 2,000 | 61,604 | |||||||||
Industrial Conglomerates — 0.1% | |||||||||||
Honeywell International, Inc. | 2,027 | 390,116 |
Shares/ Principal Amount | Value | ||||||||||
Insurance — 0.8% | |||||||||||
Aegon NV | 56,363 | $ | 247,558 | ||||||||
Aflac, Inc. | 10,982 | 629,269 | |||||||||
Allstate Corp. | 7,858 | 919,150 | |||||||||
ASR Nederland NV | 3,127 | 130,701 | |||||||||
Chubb Ltd. | 1,294 | 244,100 | |||||||||
Goosehead Insurance, Inc., Class A(3) | 1,869 | 105,056 | |||||||||
Hanover Insurance Group, Inc. | 2,973 | 405,725 | |||||||||
Kinsale Capital Group, Inc. | 738 | 179,489 | |||||||||
Marsh & McLennan Cos., Inc. | 1,860 | 304,966 | |||||||||
Prudential Financial, Inc. | 3,186 | 318,568 | |||||||||
Reinsurance Group of America, Inc. | 6,730 | 779,199 | |||||||||
RLI Corp. | 1,202 | 132,196 | |||||||||
Selective Insurance Group, Inc. | 836 | 65,091 | |||||||||
Steadfast Group Ltd. | 12,175 | 45,645 | |||||||||
Storebrand ASA | 13,139 | 110,513 | |||||||||
Travelers Cos., Inc. | 1,762 | 279,629 | |||||||||
Unipol Gruppo SpA | 10,237 | 42,941 | |||||||||
4,939,796 | |||||||||||
Interactive Media and Services — 0.7% | |||||||||||
Alphabet, Inc., Class A(2) | 18,900 | 2,198,448 | |||||||||
Autohome, Inc., ADR | 7,855 | 280,345 | |||||||||
Baidu, Inc., Class A(2) | 29,900 | 516,803 | |||||||||
Cargurus, Inc.(2) | 4,442 | 107,896 | |||||||||
carsales.com Ltd. | 1,455 | 21,211 | |||||||||
Eventbrite, Inc., Class A(2)(3) | 9,103 | 85,204 | |||||||||
Match Group, Inc.(2) | 8,583 | 629,220 | |||||||||
QuinStreet, Inc.(2) | 6,842 | 73,552 | |||||||||
Tencent Holdings Ltd. | 13,000 | 502,435 | |||||||||
4,415,114 | |||||||||||
Internet and Direct Marketing Retail — 0.4% | |||||||||||
Alibaba Group Holding Ltd.(2) | 42,900 | 482,345 | |||||||||
Amazon.com, Inc.(2) | 10,720 | 1,446,664 | |||||||||
ASOS PLC(2) | 16,298 | 207,426 | |||||||||
Chewy, Inc., Class A(2)(3) | 6,253 | 242,679 | |||||||||
Etsy, Inc.(2) | 1,535 | 159,210 | |||||||||
JD.com, Inc., Class A | 10,466 | 312,227 | |||||||||
2,850,551 | |||||||||||
IT Services — 0.8% | |||||||||||
Accenture PLC, Class A | 1,666 | 510,229 | |||||||||
Adyen NV(2) | 234 | 420,913 | |||||||||
Alten SA | 142 | 19,232 | |||||||||
Amdocs Ltd. | 4,645 | 404,394 | |||||||||
Capgemini SE | 2,587 | 493,436 | |||||||||
Capita PLC(2) | 157,273 | 55,225 | |||||||||
Cloudflare, Inc., Class A(2) | 6,610 | 332,615 | |||||||||
Endava PLC, ADR(2) | 647 | 65,994 | |||||||||
EPAM Systems, Inc.(2) | 1,930 | 674,052 | |||||||||
Euronet Worldwide, Inc.(2) | 1,205 | 118,415 | |||||||||
Indra Sistemas SA | 18,937 | 173,230 | |||||||||
Mastercard, Inc., Class A | 1,545 | 546,606 |
Shares/ Principal Amount | Value | ||||||||||
NEXTDC Ltd.(2) | 14,524 | $ | 120,906 | ||||||||
Okta, Inc.(2) | 1,508 | 148,463 | |||||||||
Perficient, Inc.(2) | 1,432 | 151,105 | |||||||||
SCSK Corp. | 3,900 | 68,680 | |||||||||
Switch, Inc., Class A | 4,372 | 147,817 | |||||||||
TDCX, Inc., ADR(2) | 3,394 | 26,677 | |||||||||
Thoughtworks Holding, Inc.(2) | 5,779 | 90,499 | |||||||||
Visa, Inc., Class A | 3,785 | 802,836 | |||||||||
5,371,324 | |||||||||||
Leisure Products — 0.1% | |||||||||||
Brunswick Corp. | 1,606 | 128,673 | |||||||||
Callaway Golf Co.(2) | 6,148 | 141,097 | |||||||||
MIPS AB | 329 | 17,601 | |||||||||
Polaris, Inc. | 1,869 | 219,196 | |||||||||
506,567 | |||||||||||
Life Sciences Tools and Services — 0.7% | |||||||||||
Agilent Technologies, Inc. | 6,587 | 883,317 | |||||||||
Bio-Techne Corp. | 1,556 | 599,496 | |||||||||
ICON PLC(2) | 2,497 | 602,401 | |||||||||
IQVIA Holdings, Inc.(2) | 3,308 | 794,813 | |||||||||
Lonza Group AG | 897 | 545,153 | |||||||||
MaxCyte, Inc.(2)(3) | 11,379 | 62,016 | |||||||||
Mettler-Toledo International, Inc.(2) | 456 | 615,477 | |||||||||
Thermo Fisher Scientific, Inc. | 872 | 521,813 | |||||||||
4,624,486 | |||||||||||
Machinery — 0.7% | |||||||||||
AGCO Corp. | 750 | 81,690 | |||||||||
Astec Industries, Inc. | 2,651 | 130,244 | |||||||||
ATS Automation Tooling Systems, Inc.(2) | 4,657 | 147,469 | |||||||||
Cummins, Inc. | 4,032 | 892,322 | |||||||||
Deere & Co. | 487 | 167,129 | |||||||||
Graco, Inc. | 6,967 | 467,904 | |||||||||
IHI Corp. | 2,500 | 65,919 | |||||||||
IMI PLC | 15,997 | 261,215 | |||||||||
John Bean Technologies Corp. | 1,395 | 156,672 | |||||||||
Metso Outotec Oyj | 6,708 | 55,453 | |||||||||
Mueller Water Products, Inc., Class A | 9,672 | 125,929 | |||||||||
Oshkosh Corp. | 9,640 | 830,004 | |||||||||
PACCAR, Inc. | 2,399 | 219,556 | |||||||||
Parker-Hannifin Corp. | 2,443 | 706,247 | |||||||||
Stanley Black & Decker, Inc. | 1,924 | 187,263 | |||||||||
Trelleborg AB, B Shares | 2,362 | 58,036 | |||||||||
Xylem, Inc. | 2,059 | 189,490 | |||||||||
4,742,542 | |||||||||||
Media — 0.3% | |||||||||||
Comcast Corp., Class A | 4,484 | 168,240 | |||||||||
Fox Corp., Class B | 22,707 | 701,646 | |||||||||
Publicis Groupe SA | 8,115 | 431,843 | |||||||||
WPP PLC | 52,644 | 568,154 | |||||||||
1,869,883 | |||||||||||
Metals and Mining — 0.1% | |||||||||||
AMG Advanced Metallurgical Group NV | 1,651 | 46,346 |
Shares/ Principal Amount | Value | ||||||||||
ERO Copper Corp.(2) | 33,512 | $ | 331,574 | ||||||||
IGO Ltd. | 6,488 | 50,839 | |||||||||
Lynas Rare Earths Ltd.(2) | 9,563 | 58,806 | |||||||||
MMC Norilsk Nickel PJSC(4) | 2,446 | — | |||||||||
OZ Minerals Ltd. | 2,825 | 37,729 | |||||||||
SSR Mining, Inc. (NASDAQ) | 4,029 | 66,317 | |||||||||
591,611 | |||||||||||
Mortgage Real Estate Investment Trusts (REITs)† | |||||||||||
AGNC Investment Corp. | 1,962 | 24,741 | |||||||||
Multi-Utilities — 0.1% | |||||||||||
NorthWestern Corp. | 11,494 | 637,342 | |||||||||
Multiline Retail — 0.2% | |||||||||||
Dollar Tree, Inc.(2) | 5,303 | 876,904 | |||||||||
Ollie's Bargain Outlet Holdings, Inc.(2) | 1,794 | 105,756 | |||||||||
Target Corp. | 1,072 | 175,144 | |||||||||
1,157,804 | |||||||||||
Oil, Gas and Consumable Fuels — 0.7% | |||||||||||
ConocoPhillips | 9,340 | 909,996 | |||||||||
Devon Energy Corp. | 8,042 | 505,440 | |||||||||
Diamondback Energy, Inc. | 2,040 | 261,161 | |||||||||
Enterprise Products Partners LP | 22,664 | 605,809 | |||||||||
Euronav NV | 5,285 | 72,160 | |||||||||
Excelerate Energy, Inc., Class A(2) | 8,224 | 182,079 | |||||||||
Hess Corp. | 6,135 | 690,004 | |||||||||
Kosmos Energy Ltd.(2) | 37,320 | 236,609 | |||||||||
Matador Resources Co. | 4,631 | 267,579 | |||||||||
Phillips 66 | 4,614 | 410,646 | |||||||||
Pioneer Natural Resources Co. | 1,353 | 320,593 | |||||||||
Whitecap Resources, Inc.(3) | 47,491 | 363,076 | |||||||||
4,825,152 | |||||||||||
Paper and Forest Products† | |||||||||||
Holmen AB, B Shares | 738 | 30,326 | |||||||||
Mondi PLC | 14,484 | 274,866 | |||||||||
305,192 | |||||||||||
Personal Products — 0.1% | |||||||||||
Estee Lauder Cos., Inc., Class A | 727 | 198,544 | |||||||||
Medifast, Inc. | 767 | 129,002 | |||||||||
Rohto Pharmaceutical Co. Ltd. | 3,300 | 98,913 | |||||||||
426,459 | |||||||||||
Pharmaceuticals — 1.1% | |||||||||||
ALK-Abello A/S(2) | 2,916 | 58,220 | |||||||||
Arvinas, Inc.(2) | 1,096 | 58,208 | |||||||||
AstraZeneca PLC | 5,458 | 717,952 | |||||||||
AstraZeneca PLC, ADR | 11,768 | 779,395 | |||||||||
Bristol-Myers Squibb Co. | 7,724 | 569,877 | |||||||||
Edgewise Therapeutics, Inc.(2)(3) | 2,295 | 22,193 | |||||||||
GSK PLC | 31,137 | 654,195 | |||||||||
Harmony Biosciences Holdings, Inc.(2) | 1,659 | 84,161 | |||||||||
Hikma Pharmaceuticals PLC | 14,918 | 315,322 | |||||||||
Intra-Cellular Therapies, Inc.(2) | 2,079 | 112,515 | |||||||||
Laboratorios Farmaceuticos Rovi SA | 345 | 18,064 |
Shares/ Principal Amount | Value | ||||||||||
Merck & Co., Inc. | 5,253 | $ | 469,303 | ||||||||
Novartis AG | 4,521 | 388,488 | |||||||||
Novo Nordisk A/S, B Shares | 9,210 | 1,072,723 | |||||||||
Sanofi | 1,711 | 170,028 | |||||||||
Sanofi, ADR | 16,745 | 832,226 | |||||||||
Takeda Pharmaceutical Co. Ltd. | 15,600 | 457,707 | |||||||||
Ventyx Biosciences, Inc.(2)(3) | 3,329 | 50,301 | |||||||||
Zoetis, Inc. | 2,195 | 400,697 | |||||||||
7,231,575 | |||||||||||
Professional Services — 0.4% | |||||||||||
ALS Ltd. | 10,450 | 85,830 | |||||||||
BayCurrent Consulting, Inc.(3) | 300 | 93,859 | |||||||||
Bureau Veritas SA | 17,430 | 480,730 | |||||||||
DKSH Holding AG | 1,353 | 111,215 | |||||||||
Jacobs Engineering Group, Inc. | 5,900 | 810,070 | |||||||||
Teleperformance | 866 | 289,591 | |||||||||
Verisk Analytics, Inc. | 3,091 | 588,063 | |||||||||
Visional, Inc.(2)(3) | 1,300 | 71,199 | |||||||||
2,530,557 | |||||||||||
Real Estate Management and Development — 0.1% | |||||||||||
Altus Group Ltd.(3) | 2,788 | 114,455 | |||||||||
Capitaland Investment Ltd. | 30,100 | 85,644 | |||||||||
City Developments Ltd. | 3,900 | 21,911 | |||||||||
CK Asset Holdings Ltd. | 7,000 | 49,558 | |||||||||
Colliers International Group, Inc. (Toronto) | 310 | 38,714 | |||||||||
DigitalBridge Group, Inc.(2) | 20,040 | 109,819 | |||||||||
Grainger PLC | 13,553 | 48,983 | |||||||||
PSP Swiss Property AG | 673 | 80,485 | |||||||||
Tokyu Fudosan Holdings Corp. | 14,500 | 78,575 | |||||||||
Tricon Residential, Inc. | 820 | 8,922 | |||||||||
Tricon Residential, Inc. (Toronto) | 12,023 | 130,694 | |||||||||
VGP NV | 85 | 14,929 | |||||||||
782,689 | |||||||||||
Road and Rail — 0.4% | |||||||||||
Canadian Pacific Railway Ltd. | 8,106 | 639,149 | |||||||||
Heartland Express, Inc. | 21,579 | 342,675 | |||||||||
Lyft, Inc., Class A(2) | 11,994 | 166,237 | |||||||||
Nagoya Railroad Co. Ltd. | 5,000 | 80,600 | |||||||||
Norfolk Southern Corp. | 3,711 | 932,092 | |||||||||
Saia, Inc.(2) | 316 | 75,161 | |||||||||
Uber Technologies, Inc.(2) | 2,789 | 65,402 | |||||||||
Union Pacific Corp. | 1,041 | 236,619 | |||||||||
2,537,935 | |||||||||||
Semiconductors and Semiconductor Equipment — 1.0% | |||||||||||
Advanced Micro Devices, Inc.(2) | 2,835 | 267,822 | |||||||||
Ambarella, Inc.(2) | 742 | 64,220 | |||||||||
Analog Devices, Inc. | 3,040 | 522,758 | |||||||||
Applied Materials, Inc. | 5,844 | 619,347 | |||||||||
ASML Holding NV | 494 | 283,930 | |||||||||
BE Semiconductor Industries NV | 496 | 26,626 | |||||||||
Enphase Energy, Inc.(2) | 2,707 | 769,275 |
Shares/ Principal Amount | Value | ||||||||||
Infineon Technologies AG | 8,992 | $ | 246,601 | ||||||||
Lattice Semiconductor Corp.(2) | 3,423 | 210,515 | |||||||||
MACOM Technology Solutions Holdings, Inc.(2) | 1,566 | 90,734 | |||||||||
Marvell Technology, Inc. | 8,820 | 491,098 | |||||||||
Monolithic Power Systems, Inc. | 1,671 | 776,547 | |||||||||
Nova Ltd.(2) | 727 | 76,589 | |||||||||
NVIDIA Corp. | 3,938 | 715,259 | |||||||||
Onto Innovation, Inc.(2) | 1,867 | 155,428 | |||||||||
Power Integrations, Inc. | 1,954 | 166,110 | |||||||||
Semtech Corp.(2) | 648 | 40,390 | |||||||||
Skyworks Solutions, Inc. | 2,421 | 263,599 | |||||||||
SUMCO Corp. | 24,900 | 348,419 | |||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 29,000 | 497,337 | |||||||||
6,632,604 | |||||||||||
Software — 2.2% | |||||||||||
Adobe, Inc.(2) | 587 | 240,740 | |||||||||
Atlassian Corp. PLC, Class A(2) | 1,426 | 298,490 | |||||||||
Box, Inc., Class A(2) | 5,808 | 165,180 | |||||||||
Cadence Design Systems, Inc.(2) | 11,794 | 2,194,628 | |||||||||
Dassault Systemes SE | 9,055 | 388,384 | |||||||||
Datadog, Inc., Class A(2) | 6,807 | 694,382 | |||||||||
Descartes Systems Group, Inc.(2) | 746 | 51,534 | |||||||||
DocuSign, Inc.(2) | 2,821 | 180,488 | |||||||||
Five9, Inc.(2) | 1,093 | 118,175 | |||||||||
HubSpot, Inc.(2) | 707 | 217,756 | |||||||||
JFrog Ltd.(2) | 3,232 | 71,750 | |||||||||
Kinaxis, Inc.(2) | 782 | 93,482 | |||||||||
m-up Holdings, Inc. | 3,800 | 44,190 | |||||||||
Manhattan Associates, Inc.(2) | 9,963 | 1,401,495 | |||||||||
Microsoft Corp. | 12,840 | 3,604,702 | |||||||||
nCino, Inc.(2)(3) | 3,936 | 127,093 | |||||||||
Open Text Corp. | 12,299 | 503,029 | |||||||||
Palo Alto Networks, Inc.(2) | 4,051 | 2,021,854 | |||||||||
Paycor HCM, Inc.(2) | 5,805 | 154,936 | |||||||||
Paylocity Holding Corp.(2) | 1,124 | 231,465 | |||||||||
QT Group Oyj(2)(3) | 179 | 14,474 | |||||||||
Salesforce, Inc.(2) | 1,654 | 304,369 | |||||||||
ServiceNow, Inc.(2) | 261 | 116,578 | |||||||||
Sprout Social, Inc., Class A(2) | 2,211 | 115,193 | |||||||||
SPS Commerce, Inc.(2) | 1,331 | 159,401 | |||||||||
Tenable Holdings, Inc.(2) | 4,561 | 176,283 | |||||||||
Trade Desk, Inc., Class A(2) | 11,688 | 525,960 | |||||||||
Workday, Inc., Class A(2) | 539 | 83,599 | |||||||||
14,299,610 | |||||||||||
Specialty Retail — 0.5% | |||||||||||
Advance Auto Parts, Inc. | 4,910 | 950,674 | |||||||||
Burlington Stores, Inc.(2) | 2,727 | 384,862 | |||||||||
Five Below, Inc.(2) | 1,724 | 219,069 | |||||||||
Home Depot, Inc. | 2,420 | 728,275 | |||||||||
Leslie's, Inc.(2) | 9,703 | 147,097 | |||||||||
Nextage Co. Ltd. | 4,300 | 95,112 |
Shares/ Principal Amount | Value | ||||||||||
Petco Health & Wellness Co., Inc.(2)(3) | 5,812 | $ | 80,903 | ||||||||
Pets at Home Group PLC | 1,795 | 7,202 | |||||||||
TJX Cos., Inc. | 5,754 | 351,915 | |||||||||
Tractor Supply Co. | 719 | 137,674 | |||||||||
Watches of Switzerland Group PLC(2) | 6,568 | 71,199 | |||||||||
3,173,982 | |||||||||||
Technology Hardware, Storage and Peripherals — 0.4% | |||||||||||
Apple, Inc. | 13,329 | 2,166,096 | |||||||||
HP, Inc. | 13,479 | 450,064 | |||||||||
Pure Storage, Inc., Class A(2) | 2,035 | 57,692 | |||||||||
2,673,852 | |||||||||||
Textiles, Apparel and Luxury Goods — 0.5% | |||||||||||
Asics Corp.(3) | 3,800 | 72,403 | |||||||||
Crocs, Inc.(2) | 1,550 | 111,042 | |||||||||
Deckers Outdoor Corp.(2) | 459 | 143,764 | |||||||||
EssilorLuxottica SA | 2,333 | 365,773 | |||||||||
Li Ning Co. Ltd. | 49,500 | 401,526 | |||||||||
lululemon athletica, Inc.(2) | 2,711 | 841,793 | |||||||||
LVMH Moet Hennessy Louis Vuitton SE | 715 | 496,463 | |||||||||
NIKE, Inc., Class B | 2,486 | 285,691 | |||||||||
Puma SE | 3,991 | 269,487 | |||||||||
2,987,942 | |||||||||||
Thrifts and Mortgage Finance† | |||||||||||
Capitol Federal Financial, Inc. | 20,946 | 200,872 | |||||||||
Trading Companies and Distributors — 0.4% | |||||||||||
AddTech AB, B Shares | 3,502 | 59,950 | |||||||||
Ashtead Group PLC | 5,602 | 315,335 | |||||||||
Beacon Roofing Supply, Inc.(2) | 4,942 | 296,619 | |||||||||
Diploma PLC | 1,971 | 66,191 | |||||||||
Finning International, Inc. | 1,907 | 41,698 | |||||||||
H&E Equipment Services, Inc. | 4,095 | 146,396 | |||||||||
MonotaRO Co. Ltd. | 15,000 | 267,830 | |||||||||
MSC Industrial Direct Co., Inc., Class A | 10,755 | 889,008 | |||||||||
NOW, Inc.(2) | 8,948 | 98,965 | |||||||||
RS GROUP PLC | 5,389 | 68,034 | |||||||||
Yamazen Corp. | 6,700 | 50,658 | |||||||||
2,300,684 | |||||||||||
Transportation Infrastructure† | |||||||||||
Japan Airport Terminal Co. Ltd.(2) | 1,500 | 58,798 | |||||||||
SATS Ltd.(2) | 27,100 | 78,125 | |||||||||
136,923 | |||||||||||
Water Utilities† | |||||||||||
SJW Group | 2,296 | 150,755 | |||||||||
TOTAL COMMON STOCKS (Cost $164,286,678) | 197,323,028 | ||||||||||
U.S. TREASURY SECURITIES — 5.2% | |||||||||||
U.S. Treasury Bonds, 2.375%, 2/15/42(5) | $ | 5,000,000 | 4,356,250 | ||||||||
U.S. Treasury Bonds, 3.00%, 5/15/42 | 250,000 | 241,016 | |||||||||
U.S. Treasury Bonds, 3.75%, 11/15/43 | 40,000 | 42,827 | |||||||||
U.S. Treasury Bonds, 3.125%, 8/15/44 | 350,000 | 339,240 | |||||||||
U.S. Treasury Bonds, 3.00%, 5/15/45 | 100,000 | 94,797 | |||||||||
U.S. Treasury Bonds, 3.00%, 11/15/45 | 50,000 | 47,522 |
Shares/ Principal Amount | Value | ||||||||||
U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/25 | $ | 775,335 | $ | 824,113 | |||||||
U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/27 | 289,884 | 321,606 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 2.50%, 1/15/29 | 2,927,053 | 3,384,447 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 2.125%, 2/15/40 | 486,846 | 604,458 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/42 | 853,756 | 841,920 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.625%, 2/15/43 | 394,115 | 375,808 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 1.375%, 2/15/44 | 1,442,296 | 1,586,521 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 | 1,452,286 | 1,405,853 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 | 484,348 | 481,258 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.125%, 2/15/51 | 617,485 | 514,272 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 4/15/25 | 2,093,479 | 2,110,186 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.625%, 1/15/26 | 1,476,168 | 1,516,129 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 4/15/26 | 3,343,710 | 3,371,428 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 4/15/27 | 2,344,819 | 2,368,921 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.875%, 1/15/29 | 405,160 | 426,410 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 1/15/32 | 1,613,309 | 1,610,999 | |||||||||
U.S. Treasury Notes, 2.25%, 8/15/27 | 200,000 | 195,484 | |||||||||
U.S. Treasury Notes, 1.50%, 11/30/28(5) | 6,900,000 | 6,406,488 | |||||||||
TOTAL U.S. TREASURY SECURITIES (Cost $34,367,883) | 33,467,953 | ||||||||||
SOVEREIGN GOVERNMENTS AND AGENCIES — 2.7% | |||||||||||
Australia† | |||||||||||
Australia Government Bond, 3.00%, 3/21/47 | AUD | 120,000 | 77,762 | ||||||||
New South Wales Treasury Corp., 3.00%, 3/20/28 | AUD | 110,000 | 75,823 | ||||||||
153,585 | |||||||||||
Austria† | |||||||||||
Republic of Austria Government Bond, 0.75%, 10/20/26(6) | EUR | 41,000 | 42,134 | ||||||||
Republic of Austria Government Bond, 4.15%, 3/15/37(6) | EUR | 29,000 | 39,233 | ||||||||
81,367 | |||||||||||
Belgium† | |||||||||||
Kingdom of Belgium Government Bond, 4.25%, 3/28/41(6) | EUR | 27,000 | 37,273 | ||||||||
Canada — 0.2% | |||||||||||
Canadian Government Bond, 0.25%, 3/1/26 | CAD | 850,000 | 608,319 | ||||||||
Province of British Columbia Canada, 2.85%, 6/18/25 | CAD | 201,000 | 155,878 | ||||||||
Province of Quebec Canada, 3.00%, 9/1/23 | CAD | 215,000 | 167,494 | ||||||||
Province of Quebec Canada, 5.75%, 12/1/36 | CAD | 108,000 | 103,919 | ||||||||
Province of Quebec Canada, 3.50%, 12/1/48 | CAD | 20,000 | 14,960 | ||||||||
1,050,570 | |||||||||||
China — 1.9% | |||||||||||
China Government Bond, 2.64%, 8/13/22 | CNY | 63,500,000 | 9,430,033 | ||||||||
China Government Bond, 2.88%, 11/5/23 | CNY | 19,000,000 | 2,851,015 | ||||||||
China Government Bond, 3.25%, 6/6/26 | CNY | 400,000 | 61,204 | ||||||||
China Government Bond, 3.29%, 5/23/29 | CNY | 300,000 | 46,217 | ||||||||
12,388,469 | |||||||||||
Czech Republic† | |||||||||||
Czech Republic Government Bond, 4.70%, 9/12/22 | CZK | 610,000 | 25,291 | ||||||||
Denmark† | |||||||||||
Denmark Government Bond, 0.50%, 11/15/27 | DKK | 245,000 | 33,069 | ||||||||
Denmark Government Bond, 4.50%, 11/15/39 | DKK | 62,000 | 12,496 | ||||||||
45,565 |
Shares/ Principal Amount | Value | ||||||||||
Finland — 0.1% | |||||||||||
Finland Government Bond, 4.00%, 7/4/25(6) | EUR | 58,000 | $ | 65,382 | |||||||
Finland Government Bond, 0.125%, 4/15/36(6) | EUR | 350,000 | 294,724 | ||||||||
360,106 | |||||||||||
France — 0.2% | |||||||||||
French Republic Government Bond OAT, 0.00%, 11/25/31(7) | EUR | 1,050,000 | 958,224 | ||||||||
Germany† | |||||||||||
Bundesrepublik Deutschland Bundesanleihe, 0.00%, 8/15/52(7) | EUR | 40,000 | 29,706 | ||||||||
Ireland† | |||||||||||
Ireland Government Bond, 3.40%, 3/18/24 | EUR | 74,000 | 79,409 | ||||||||
Italy — 0.1% | |||||||||||
Italy Buoni Poliennali Del Tesoro, 1.50%, 6/1/25 | EUR | 35,000 | 35,560 | ||||||||
Italy Buoni Poliennali Del Tesoro, 2.00%, 12/1/25 | EUR | 223,000 | 229,029 | ||||||||
264,589 | |||||||||||
Malaysia† | |||||||||||
Malaysia Government Bond, 3.96%, 9/15/25 | MYR | 250,000 | 56,810 | ||||||||
Mexico† | |||||||||||
Mexico Government International Bond, 4.15%, 3/28/27 | $ | 200,000 | 201,203 | ||||||||
Netherlands† | |||||||||||
Netherlands Government Bond, 0.50%, 7/15/26(6) | EUR | 100,000 | 101,897 | ||||||||
Netherlands Government Bond, 2.75%, 1/15/47(6) | EUR | 27,000 | 35,670 | ||||||||
137,567 | |||||||||||
Norway† | |||||||||||
Norway Government Bond, 2.00%, 5/24/23(6) | NOK | 85,000 | 8,764 | ||||||||
Norway Government Bond, 1.75%, 2/17/27(6) | NOK | 510,000 | 50,685 | ||||||||
59,449 | |||||||||||
Peru† | |||||||||||
Peruvian Government International Bond, 5.625%, 11/18/50 | $ | 60,000 | 65,809 | ||||||||
Poland† | |||||||||||
Republic of Poland Government Bond, 4.00%, 10/25/23 | PLN | 215,000 | 44,990 | ||||||||
Singapore† | |||||||||||
Singapore Government Bond, 3.125%, 9/1/22 | SGD | 90,000 | 65,185 | ||||||||
Switzerland† | |||||||||||
Swiss Confederation Government Bond, 1.25%, 5/28/26 | CHF | 147,000 | 161,897 | ||||||||
Swiss Confederation Government Bond, 2.50%, 3/8/36 | CHF | 3,000 | 3,932 | ||||||||
165,829 | |||||||||||
Thailand† | |||||||||||
Thailand Government Bond, 3.625%, 6/16/23 | THB | 1,150,000 | 31,890 | ||||||||
Thailand Government Bond, 3.85%, 12/12/25 | THB | 3,200,000 | 91,957 | ||||||||
123,847 | |||||||||||
United Kingdom — 0.2% | |||||||||||
United Kingdom Gilt, 0.125%, 1/30/26 | GBP | 1,100,000 | 1,272,699 | ||||||||
Uruguay† | |||||||||||
Uruguay Government International Bond, 4.125%, 11/20/45 | $ | 30,000 | 29,587 | ||||||||
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $18,776,792) | 17,697,129 | ||||||||||
CORPORATE BONDS — 1.6% | |||||||||||
Aerospace and Defense — 0.1% | |||||||||||
Boeing Co., 5.81%, 5/1/50 | 50,000 | 49,787 |
Shares/ Principal Amount | Value | ||||||||||
TransDigm, Inc., 6.375%, 6/15/26 | $ | 50,000 | $ | 49,806 | |||||||
TransDigm, Inc., 4.625%, 1/15/29 | 190,000 | 171,222 | |||||||||
270,815 | |||||||||||
Airlines — 0.1% | |||||||||||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(6) | 198,077 | 195,080 | |||||||||
United Airlines Holdings, Inc., 5.00%, 2/1/24 | 140,000 | 137,626 | |||||||||
332,706 | |||||||||||
Auto Components† | |||||||||||
ZF North America Capital, Inc., 4.75%, 4/29/25(6) | 110,000 | 104,841 | |||||||||
Automobiles — 0.1% | |||||||||||
Ford Motor Credit Co. LLC, 3.625%, 6/17/31 | 370,000 | 314,678 | |||||||||
General Motors Co., 5.15%, 4/1/38 | 120,000 | 108,247 | |||||||||
422,925 | |||||||||||
Banks — 0.4% | |||||||||||
Akbank T.A.S., 5.00%, 10/24/22 | 70,000 | 69,688 | |||||||||
Avi Funding Co. Ltd., 3.80%, 9/16/25(6) | 143,000 | 143,450 | |||||||||
Banco Santander SA, 2.50%, 3/18/25 | EUR | 100,000 | 103,148 | ||||||||
Bank of America Corp., 2.30%, 7/25/25 | GBP | 100,000 | 118,904 | ||||||||
CaixaBank SA, VRN, 2.75%, 7/14/28 | EUR | 100,000 | 101,248 | ||||||||
CaixaBank SA, VRN, 2.25%, 4/17/30 | EUR | 100,000 | 97,064 | ||||||||
Commerzbank AG, 4.00%, 3/23/26 | EUR | 150,000 | 156,358 | ||||||||
Credit Agricole SA, 7.375%, 12/18/23 | GBP | 50,000 | 63,681 | ||||||||
European Financial Stability Facility, 2.125%, 2/19/24 | EUR | 93,000 | 97,040 | ||||||||
European Financial Stability Facility, 0.40%, 5/31/26 | EUR | 200,000 | 199,683 | ||||||||
European Union, 0.00%, 7/4/31(7) | EUR | 1,450,000 | 1,303,969 | ||||||||
ING Groep NV, 2.125%, 1/10/26 | EUR | 200,000 | 205,915 | ||||||||
Lloyds Bank PLC, 7.625%, 4/22/25 | GBP | 20,000 | 26,660 | ||||||||
2,686,808 | |||||||||||
Biotechnology† | |||||||||||
AbbVie, Inc., 4.40%, 11/6/42 | $ | 280,000 | 268,778 | ||||||||
Chemicals† | |||||||||||
Equate Petrochemical BV, 4.25%, 11/3/26(6) | 46,000 | 45,494 | |||||||||
Olin Corp., 5.125%, 9/15/27 | 70,000 | 67,440 | |||||||||
112,934 | |||||||||||
Containers and Packaging† | |||||||||||
Ball Corp., 5.25%, 7/1/25 | 35,000 | 35,475 | |||||||||
Mauser Packaging Solutions Holding Co., 5.50%, 4/15/24(6) | 40,000 | 39,612 | |||||||||
Sealed Air Corp., 5.125%, 12/1/24(6) | 105,000 | 106,432 | |||||||||
181,519 | |||||||||||
Diversified Financial Services† | |||||||||||
Allen C Stonecipher Life Insurance Trust, VRDN, 2.44%, 8/5/22 (LOC: FHLB) | 5,000 | 5,000 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
AT&T, Inc., 4.90%, 8/15/37 | 59,000 | 60,571 | |||||||||
Level 3 Financing, Inc., 4.625%, 9/15/27(6) | 136,000 | 124,643 | |||||||||
Turk Telekomunikasyon AS, 4.875%, 6/19/24(6) | 115,000 | 99,492 | |||||||||
284,706 | |||||||||||
Electric Utilities† | |||||||||||
Duke Energy Florida LLC, 3.85%, 11/15/42 | 40,000 | 36,186 | |||||||||
Duke Energy Progress LLC, 4.15%, 12/1/44 | 40,000 | 37,720 |
Shares/ Principal Amount | Value | ||||||||||
Exelon Corp., 4.45%, 4/15/46 | $ | 20,000 | $ | 18,818 | |||||||
Israel Electric Corp. Ltd., 6.875%, 6/21/23(6) | 57,000 | 58,403 | |||||||||
MidAmerican Energy Co., 4.40%, 10/15/44 | 60,000 | 58,973 | |||||||||
210,100 | |||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.1% | |||||||||||
EPR Properties, 4.95%, 4/15/28 | 292,000 | 272,808 | |||||||||
VICI Properties LP / VICI Note Co., Inc., 5.625%, 5/1/24(6) | 90,000 | 90,154 | |||||||||
362,962 | |||||||||||
Health Care Providers and Services — 0.1% | |||||||||||
CVS Health Corp., 4.78%, 3/25/38 | 40,000 | 40,101 | |||||||||
DaVita, Inc., 4.625%, 6/1/30(6) | 270,000 | 221,916 | |||||||||
Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 70,000 | 53,857 | |||||||||
315,874 | |||||||||||
Hotels, Restaurants and Leisure — 0.2% | |||||||||||
Caesars Entertainment, Inc., 4.625%, 10/15/29(6) | 110,000 | 93,516 | |||||||||
MGM Resorts International, 6.00%, 3/15/23 | 135,000 | 136,332 | |||||||||
MGM Resorts International, 4.625%, 9/1/26 | 39,000 | 36,328 | |||||||||
Penn National Gaming, Inc., 5.625%, 1/15/27(6) | 175,000 | 162,830 | |||||||||
Penn National Gaming, Inc., 4.125%, 7/1/29(6) | 43,000 | 35,839 | |||||||||
Station Casinos LLC, 4.625%, 12/1/31(6) | 530,000 | 463,202 | |||||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.25%, 5/15/27(6) | 200,000 | 185,988 | |||||||||
1,114,035 | |||||||||||
Household Durables — 0.1% | |||||||||||
KB Home, 4.80%, 11/15/29 | 253,000 | 227,966 | |||||||||
Meritage Homes Corp., 5.125%, 6/6/27 | 190,000 | 186,290 | |||||||||
Tempur Sealy International, Inc., 3.875%, 10/15/31(6) | 136,000 | 110,500 | |||||||||
524,756 | |||||||||||
Interactive Media and Services† | |||||||||||
Tencent Holdings Ltd., 3.80%, 2/11/25(6) | 86,000 | 85,670 | |||||||||
Media† | |||||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital, 5.125%, 7/1/49 | 85,000 | 73,406 | |||||||||
DISH DBS Corp., 7.75%, 7/1/26 | 165,000 | 137,410 | |||||||||
210,816 | |||||||||||
Metals and Mining — 0.1% | |||||||||||
Alcoa Nederland Holding BV, 4.125%, 3/31/29(6) | 200,000 | 188,413 | |||||||||
ATI, Inc., 4.875%, 10/1/29 | 240,000 | 205,659 | |||||||||
Cleveland-Cliffs, Inc., 4.625%, 3/1/29(6) | 235,000 | 219,679 | |||||||||
Freeport-McMoRan, Inc., 5.40%, 11/14/34 | 215,000 | 214,816 | |||||||||
Teck Resources Ltd., 6.25%, 7/15/41 | 60,000 | 61,402 | |||||||||
889,969 | |||||||||||
Mortgage Real Estate Investment Trusts (REITs)† | |||||||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.75%, 6/15/29(6) | 204,000 | 174,424 | |||||||||
Multi-Utilities† | |||||||||||
Dominion Energy, Inc., 4.90%, 8/1/41 | 30,000 | 30,033 | |||||||||
Oil, Gas and Consumable Fuels — 0.1% | |||||||||||
Antero Resources Corp., 7.625%, 2/1/29(6) | 111,000 | 117,124 | |||||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25 | 90,000 | 88,746 | |||||||||
Enterprise Products Operating LLC, 4.85%, 3/15/44 | 130,000 | 124,932 |
Shares/ Principal Amount | Value | ||||||||||
KazMunayGas National Co. JSC, 4.75%, 4/19/27 | $ | 300,000 | $ | 272,452 | |||||||
Kinder Morgan Energy Partners LP, 6.50%, 9/1/39 | 60,000 | 64,066 | |||||||||
MEG Energy Corp., 5.875%, 2/1/29(6) | 120,000 | 114,190 | |||||||||
Petroleos Mexicanos, 3.50%, 1/30/23 | 50,000 | 49,795 | |||||||||
Petroleos Mexicanos, 6.50%, 3/13/27 | 60,000 | 54,332 | |||||||||
Southwestern Energy Co., 5.95%, 1/23/25 | 21,000 | 21,282 | |||||||||
906,919 | |||||||||||
Road and Rail† | |||||||||||
Burlington Northern Santa Fe LLC, 4.45%, 3/15/43 | 12,000 | 12,145 | |||||||||
Burlington Northern Santa Fe LLC, 4.15%, 4/1/45 | 80,000 | 77,311 | |||||||||
89,456 | |||||||||||
Software† | |||||||||||
NCR Corp., 5.125%, 4/15/29(6) | 100,000 | 96,227 | |||||||||
Wireless Telecommunication Services — 0.1% | |||||||||||
C&W Senior Financing DAC, 6.875%, 9/15/27(6) | 130,000 | 116,272 | |||||||||
Millicom International Cellular SA, 5.125%, 1/15/28(6) | 128,700 | 118,502 | |||||||||
Sprint Corp., 7.875%, 9/15/23 | 70,000 | 72,669 | |||||||||
Sprint Corp., 7.125%, 6/15/24 | 315,000 | 330,491 | |||||||||
T-Mobile USA, Inc., 4.75%, 2/1/28 | 240,000 | 239,969 | |||||||||
T-Mobile USA, Inc., 3.50%, 4/15/31 | 15,000 | 13,892 | |||||||||
891,795 | |||||||||||
TOTAL CORPORATE BONDS (Cost $11,547,663) | 10,574,068 | ||||||||||
COLLATERALIZED LOAN OBLIGATIONS — 0.6% | |||||||||||
Ares XL CLO Ltd., Series 2016-40A, Class CRR, VRN, 5.31%, (3-month LIBOR plus 2.80%), 1/15/29(6) | 250,000 | 231,027 | |||||||||
Ares XXXIV CLO Ltd., Series 2015-2A, Class BR2, VRN, 4.34%, (3-month LIBOR plus 1.60%), 4/17/33(6) | 375,000 | 357,550 | |||||||||
Ares XXXIX CLO Ltd., Series 2016-39A, Class CR2, VRN, 4.79%, (3-month LIBOR plus 2.05%), 4/18/31(6) | 325,000 | 307,595 | |||||||||
Cook Park CLO Ltd., Series 2018-1A, Class C, VRN, 4.49%, (3-month LIBOR plus 1.75%), 4/17/30(6) | 250,000 | 236,005 | |||||||||
Dewolf Park CLO Ltd., Series 2017-1A, Class CR, VRN, 4.36%, (3-month LIBOR plus 1.85%), 10/15/30(6) | 200,000 | 191,217 | |||||||||
Goldentree Loan Opportunities X Ltd., Series 2015-10A, Class AR, VRN, 3.83%, (3-month LIBOR plus 1.12%), 7/20/31(6) | 175,000 | 171,694 | |||||||||
KKR CLO Ltd., Series 2018, Class CR, VRN, 4.84%, (3-month LIBOR plus 2.10%), 7/18/30(6) | 175,000 | 169,346 | |||||||||
KKR CLO Ltd., Series 2022A, Class B, VRN, 4.31%, (3-month LIBOR plus 1.60%), 7/20/31(6) | 300,000 | 288,166 | |||||||||
Magnetite VIII Ltd., Series 2014-8A, Class BR2, VRN, 4.01%, (3-month LIBOR plus 1.50%), 4/15/31(6) | 300,000 | 288,586 | |||||||||
Magnetite XXV Ltd., Series 2020-25A, Class C, VRN, 4.88%, (3-month LIBOR plus 2.10%), 1/25/32(6) | 300,000 | 288,084 | |||||||||
Marathon CLO Ltd., Series 2021-17A, Class B1, VRN, 5.39%, (3-month LIBOR plus 2.68%), 1/20/35(6) | 200,000 | 190,126 | |||||||||
MF1 Ltd., Series 2021-FL7, Class AS, VRN, 3.61%, (1-month LIBOR plus 1.45%), 10/16/36(6) | 398,000 | 378,202 | |||||||||
Palmer Square Loan Funding Ltd., Series 2022-1A, Class B, VRN, 4.33%, (3-month SOFR plus 2.00%), 4/15/30(6) | 175,000 | 167,251 | |||||||||
Rockford Tower CLO Ltd., Series 2020-1A, Class C, VRN, 5.06%, (3-month LIBOR plus 2.35%), 1/20/32(6) | 250,000 | 241,157 | |||||||||
Symphony CLO XXII Ltd., Series 2020-22A, Class B, VRN, 4.44%, (3-month LIBOR plus 1.70%), 4/18/33(6) | 500,000 | 478,589 | |||||||||
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $4,162,836) | 3,984,595 |
Shares/ Principal Amount | Value | ||||||||||
ASSET-BACKED SECURITIES — 0.3% | |||||||||||
Blackbird Capital Aircraft, Series 2021-1A, Class A SEQ, 2.44%, 7/15/46(6) | $ | 223,976 | $ | 194,262 | |||||||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A SEQ, 2.94%, 5/25/29(6) | 40,119 | 39,190 | |||||||||
FirstKey Homes Trust, Series 2020-SFR1, Class C, 1.94%, 8/17/37(6) | 300,000 | 281,342 | |||||||||
FirstKey Homes Trust, Series 2020-SFR2, Class E, 2.67%, 10/19/37(6) | 500,000 | 461,586 | |||||||||
Lunar Aircarft Ltd., Series 2020-1A, Class A SEQ, 3.38%, 2/15/45(6) | 362,031 | 311,965 | |||||||||
MAPS Trust, Series 2021-1A, Class A SEQ, 2.52%, 6/15/46(6) | 687,525 | 604,962 | |||||||||
VSE VOI Mortgage LLC, Series 2018-A, Class B, 3.72%, 2/20/36(6) | 111,777 | 109,414 | |||||||||
TOTAL ASSET-BACKED SECURITIES (Cost $2,235,230) | 2,002,721 | ||||||||||
PREFERRED STOCKS — 0.3% | |||||||||||
Automobiles — 0.1% | |||||||||||
Volkswagen International Finance NV, 3.875% | 300,000 | 272,855 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
Telefonica Europe BV, 3.00% | 300,000 | 300,368 | |||||||||
Electric Utilities† | |||||||||||
Electricite de France SA, 3.375% | 200,000 | 163,920 | |||||||||
Enel SpA, 2.25% | 100,000 | 87,870 | |||||||||
251,790 | |||||||||||
Insurance — 0.1% | |||||||||||
Allianz SE, 2.625% | 200,000 | 161,995 | |||||||||
Allianz SE, 4.75% | 100,000 | 105,049 | |||||||||
Assicurazioni Generali SpA, 4.60% | 100,000 | 103,666 | |||||||||
Intesa Sanpaolo Vita SpA, 4.75% | 100,000 | 102,961 | |||||||||
473,671 | |||||||||||
Oil, Gas and Consumable Fuels† | |||||||||||
Eni SpA, 3.375% | 200,000 | 171,949 | |||||||||
Trading Companies and Distributors† | |||||||||||
Aircastle Ltd., 5.25%(6) | 285,000 | 228,637 | |||||||||
TOTAL PREFERRED STOCKS (Cost $2,289,477) | 1,699,270 | ||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS — 0.2% | |||||||||||
Private Sponsor Collateralized Mortgage Obligations — 0.1% | |||||||||||
ABN Amro Mortgage Corp., Series 2003-4, Class A4, 5.50%, 3/25/33 | $ | 2,650 | 2,486 | ||||||||
Adjustable Rate Mortgage Trust, Series 2004-4, Class 4A1, VRN, 2.86%, 3/25/35 | 8,791 | 8,755 | |||||||||
Banc of America Mortgage Trust, Series 2004-E, Class 2A6 SEQ, VRN, 3.59%, 6/25/34 | 28,457 | 27,753 | |||||||||
Citigroup Mortgage Loan Trust, Inc., Series 2004-UST1, Class A5, VRN, 2.48%, 8/25/34 | 26,734 | 26,293 | |||||||||
First Horizon Alternative Mortgage Securities Trust, Series 2004-AA4, Class A1, VRN, 2.58%, 10/25/34 | 17,214 | 17,244 | |||||||||
GSR Mortgage Loan Trust, Series 2004-5, Class 3A3, VRN, 2.78%, 5/25/34 | 20,156 | 19,117 | |||||||||
GSR Mortgage Loan Trust, Series 2004-7, Class 3A1, VRN, 3.09%, 6/25/34 | 8,213 | 7,542 |
Shares/ Principal Amount | Value | ||||||||||
GSR Mortgage Loan Trust, Series 2005-AR1, Class 3A1, VRN, 2.77%, 1/25/35 | $ | 16,342 | $ | 16,092 | |||||||
MASTR Adjustable Rate Mortgages Trust, Series 2004-13, Class 3A7, VRN, 3.43%, 11/21/34 | 37,801 | 36,234 | |||||||||
Merrill Lynch Mortgage Investors Trust, Series 2005-3, Class 2A, VRN, 2.89%, 11/25/35 | 15,028 | 14,395 | |||||||||
Merrill Lynch Mortgage Investors Trust, Series 2005-A2, Class A1, VRN, 2.78%, 2/25/35 | 13,920 | 13,346 | |||||||||
Merrill Lynch Mortgage Investors Trust, Series 2005-A2, Class A2, VRN, 2.78%, 2/25/35 | 5,568 | 5,346 | |||||||||
Radnor RE Ltd., Series 2021-1, Class M1B, VRN, 3.21%, (30-day average SOFR plus 1.70%), 12/27/33(6) | 550,000 | 537,075 | |||||||||
Sofi Mortgage Trust, Series 2016-1A, Class 1A4 SEQ, VRN, 3.00%, 11/25/46(6) | 9,321 | 8,954 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-8, Class 2A1, VRN, 3.64%, 7/25/34 | 9,194 | 9,062 | |||||||||
Triangle Re Ltd., Series 2021-2, Class M1A, VRN, 4.31%, (1-month LIBOR plus 2.05%), 10/25/33(6) | 62,390 | 62,203 | |||||||||
WaMu Mortgage Pass-Through Certificates, Series 2003-S11, Class 3A5, 5.95%, 11/25/33 | 11,903 | 12,036 | |||||||||
823,933 | |||||||||||
U.S. Government Agency Collateralized Mortgage Obligations — 0.1% | |||||||||||
FHLMC, Series 5123, Class HI, IO, 5.00%, 1/25/42 | 150,750 | 27,467 | |||||||||
FNMA, Series 2014-C02, Class 2M2, VRN, 4.86%, (1-month LIBOR plus 2.60%), 5/25/24 | 117,602 | 118,031 | |||||||||
FNMA, Series 2015-C04, Class 1M2, VRN, 7.96%, (1-month LIBOR plus 5.70%), 4/25/28 | 94,008 | 98,465 | |||||||||
243,963 | |||||||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,070,208) | 1,067,896 | ||||||||||
MUNICIPAL SECURITIES — 0.1% | |||||||||||
Bay Area Toll Authority Rev., 6.92%, 4/1/40 | 100,000 | 126,552 | |||||||||
Metropolitan Transportation Authority Rev., 6.69%, 11/15/40 | 15,000 | 17,644 | |||||||||
Metropolitan Transportation Authority Rev., 6.81%, 11/15/40 | 10,000 | 11,990 | |||||||||
New Jersey Turnpike Authority Rev., 7.41%, 1/1/40 | 40,000 | 54,236 | |||||||||
New Jersey Turnpike Authority Rev., 7.10%, 1/1/41 | 30,000 | 39,537 | |||||||||
New York City GO, 6.27%, 12/1/37 | 5,000 | 6,005 | |||||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 4.88%, 12/1/34 | 80,000 | 85,141 | |||||||||
Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51 | 35,000 | 38,501 | |||||||||
Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60 | 100,000 | 76,608 | |||||||||
Rutgers The State University of New Jersey Rev., 5.67%, 5/1/40 | 90,000 | 103,210 | |||||||||
Sacramento Municipal Utility District Rev., 6.16%, 5/15/36 | 140,000 | 166,269 | |||||||||
San Francisco Public Utilities Commission Water Rev., 6.00%, 11/1/40 | 10,000 | 11,497 | |||||||||
State of California GO, 4.60%, 4/1/38 | 30,000 | 30,738 | |||||||||
State of California GO, 7.55%, 4/1/39 | 20,000 | 27,598 | |||||||||
State of California GO, 7.30%, 10/1/39 | 25,000 | 32,754 | |||||||||
State of California GO, 7.60%, 11/1/40 | 40,000 | 55,691 | |||||||||
State of Washington GO, 5.14%, 8/1/40 | 20,000 | 22,761 | |||||||||
TOTAL MUNICIPAL SECURITIES (Cost $821,518) | 906,732 |
Shares/ Principal Amount | Value | ||||||||||
EXCHANGE-TRADED FUNDS — 0.1% | |||||||||||
iShares Core S&P 500 ETF | 533 | $ | 220,811 | ||||||||
iShares MSCI EAFE Value ETF | 11,013 | 488,206 | |||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $742,760) | 709,017 | ||||||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.1% | |||||||||||
Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities† | |||||||||||
FHLMC, VRN, 2.72%, (12-month LIBOR plus 1.87%), 7/1/36 | $ | 10,613 | 10,905 | ||||||||
FHLMC, VRN, 2.20%, (1-year H15T1Y plus 2.14%), 10/1/36 | 14,183 | 14,686 | |||||||||
FHLMC, VRN, 2.58%, (1-year H15T1Y plus 2.26%), 4/1/37 | 18,831 | 19,415 | |||||||||
FHLMC, VRN, 2.99%, (12-month LIBOR plus 1.88%), 7/1/41 | 10,993 | 11,357 | |||||||||
FNMA, VRN, 3.18%, (6-month LIBOR plus 1.57%), 6/1/35 | 13,808 | 14,174 | |||||||||
FNMA, VRN, 3.29%, (6-month LIBOR plus 1.57%), 6/1/35 | 10,767 | 11,054 | |||||||||
FNMA, VRN, 2.38%, (6-month LIBOR plus 1.54%), 9/1/35 | 3,621 | 3,710 | |||||||||
FNMA, VRN, 2.60%, (1-year H15T1Y plus 2.16%), 3/1/38 | 19,365 | 20,036 | |||||||||
105,337 | |||||||||||
Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 0.1% | |||||||||||
FNMA, 3.50%, 3/1/34 | 25,700 | 26,063 | |||||||||
GNMA, 7.50%, 10/15/25 | 475 | 479 | |||||||||
GNMA, 6.00%, 3/15/26 | 1,626 | 1,710 | |||||||||
GNMA, 7.00%, 12/15/27 | 1,847 | 1,850 | |||||||||
GNMA, 7.00%, 5/15/31 | 4,785 | 5,191 | |||||||||
GNMA, 5.50%, 11/15/32 | 7,154 | 7,766 | |||||||||
GNMA, 6.50%, 10/15/38 | 127,779 | 143,460 | |||||||||
GNMA, 4.50%, 6/15/41 | 116,178 | 122,364 | |||||||||
308,883 | |||||||||||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Cost $400,758) | 414,220 | ||||||||||
SHORT-TERM INVESTMENTS — 3.9% | |||||||||||
Certificates of Deposit — 0.2% | |||||||||||
Credit Agricole Corporate and Investment Bank, 2.31%, 8/1/22 (LOC: Credit Agricole SA)(6) | 595,000 | 595,000 | |||||||||
Svenska Handelsbanken AB, VRN, 2.06%, (SOFR plus 0.53%), 5/19/23(6) | 800,000 | 799,019 | |||||||||
1,394,019 | |||||||||||
Commercial Paper(8) — 1.4% | |||||||||||
Australia & New Zealand Banking Group Ltd., 1.76%, 9/19/22(6) | 2,350,000 | 2,341,653 | |||||||||
BNP Paribas SA, VRN, 2.69%, (SOFR plus 0.41%), 12/13/22 | 1,200,000 | 1,200,000 | |||||||||
Canadian Imperial Bank of Commerce, 0.22%, 11/4/22(6) | 570,000 | 565,797 | |||||||||
Svenska Handelsbanken AB, 0.35%, 11/1/22(6) | 1,070,000 | 1,062,568 | |||||||||
Toyota Credit Canada, Inc., 1.24%, 8/19/22(6) | 1,000,000 | 998,817 | |||||||||
UBS AG, VRN, 2.69%, (SOFR plus 0.65%), 6/29/23(6) | 700,000 | 700,000 | |||||||||
Washington Morgan Capital Co. LLC, 2.65%, 10/27/22 (LOC: Goldman Sachs & Co.)(6) | 2,000,000 | 1,985,375 | |||||||||
8,854,210 | |||||||||||
Money Market Funds — 2.3% | |||||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 12,924,951 | 12,924,951 |
Shares | Value | ||||||||||
State Street Navigator Securities Lending Government Money Market Portfolio(9) | 1,808,776 | $ | 1,808,776 | ||||||||
14,733,727 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $24,999,208) | 24,981,956 | ||||||||||
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $580,086,205) | 650,814,309 | ||||||||||
OTHER ASSETS AND LIABILITIES — (0.1)% | (429,806) | ||||||||||
TOTAL NET ASSETS — 100.0% | $ | 650,384,503 |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 183,595 | AUD | 254,669 | Credit Suisse AG | 9/14/22 | $ | 5,537 | |||||||||||||
CAD | 20,264 | USD | 15,681 | Goldman Sachs & Co. | 9/29/22 | 140 | ||||||||||||||
CAD | 28,166 | USD | 21,885 | Goldman Sachs & Co. | 9/29/22 | 105 | ||||||||||||||
CAD | 18,169 | USD | 14,005 | Goldman Sachs & Co. | 9/29/22 | 181 | ||||||||||||||
CAD | 17,663 | USD | 13,613 | Goldman Sachs & Co. | 9/29/22 | 178 | ||||||||||||||
CAD | 8,547 | USD | 6,520 | Goldman Sachs & Co. | 9/29/22 | 153 | ||||||||||||||
CAD | 23,261 | USD | 17,840 | Goldman Sachs & Co. | 9/29/22 | 320 | ||||||||||||||
USD | 1,158,755 | CAD | 1,458,050 | UBS AG | 9/14/22 | 20,275 | ||||||||||||||
USD | 18,647 | CAD | 24,043 | Goldman Sachs & Co. | 9/29/22 | (125) | ||||||||||||||
USD | 504,071 | CAD | 655,748 | Goldman Sachs & Co. | 9/29/22 | (7,905) | ||||||||||||||
USD | 22,392 | CAD | 29,099 | Goldman Sachs & Co. | 9/29/22 | (328) | ||||||||||||||
USD | 60,572 | CAD | 78,535 | Goldman Sachs & Co. | 9/29/22 | (744) | ||||||||||||||
USD | 17,198 | CAD | 22,160 | Goldman Sachs & Co. | 9/29/22 | (104) | ||||||||||||||
USD | 67,345 | CAD | 86,778 | Goldman Sachs & Co. | 9/29/22 | (407) | ||||||||||||||
USD | 33,398 | CAD | 43,025 | Goldman Sachs & Co. | 9/29/22 | (193) | ||||||||||||||
USD | 23,478 | CAD | 30,243 | Goldman Sachs & Co. | 9/29/22 | (134) | ||||||||||||||
USD | 74,757 | CAD | 96,296 | Goldman Sachs & Co. | 9/29/22 | (426) | ||||||||||||||
USD | 4,208 | CAD | 5,415 | Goldman Sachs & Co. | 9/29/22 | (20) | ||||||||||||||
USD | 4,673 | CAD | 6,094 | Goldman Sachs & Co. | 9/29/22 | (86) | ||||||||||||||
USD | 27,447 | CAD | 35,543 | Goldman Sachs & Co. | 9/29/22 | (303) | ||||||||||||||
USD | 20,076 | CAD | 25,879 | Goldman Sachs & Co. | 9/29/22 | (129) | ||||||||||||||
USD | 18,981 | CAD | 24,467 | Goldman Sachs & Co. | 9/29/22 | (122) | ||||||||||||||
USD | 22,786 | CAD | 29,174 | Goldman Sachs & Co. | 9/29/22 | 9 | ||||||||||||||
USD | 6,135 | CAD | 7,855 | Goldman Sachs & Co. | 9/29/22 | 2 | ||||||||||||||
USD | 37,895 | CAD | 48,800 | Morgan Stanley | 9/29/22 | (206) | ||||||||||||||
USD | 24,299 | CAD | 31,291 | Morgan Stanley | 9/29/22 | (132) | ||||||||||||||
USD | 169,353 | CHF | 163,429 | Morgan Stanley | 9/14/22 | (2,886) | ||||||||||||||
USD | 12,576,403 | CNY | 83,922,338 | Morgan Stanley | 9/14/22 | 135,936 | ||||||||||||||
EUR | 65,621 | USD | 69,019 | JPMorgan Chase Bank N.A. | 9/30/22 | (1,673) | ||||||||||||||
EUR | 7,138 | USD | 7,475 | JPMorgan Chase Bank N.A. | 9/30/22 | (149) | ||||||||||||||
EUR | 10,330 | USD | 10,638 | JPMorgan Chase Bank N.A. | 9/30/22 | (37) | ||||||||||||||
EUR | 9,343 | USD | 9,574 | JPMorgan Chase Bank N.A. | 9/30/22 | 14 | ||||||||||||||
EUR | 61,186 | USD | 62,002 | JPMorgan Chase Bank N.A. | 9/30/22 | 792 | ||||||||||||||
USD | 6,516,769 | EUR | 6,062,951 | JPMorgan Chase Bank N.A. | 9/14/22 | 301,576 | ||||||||||||||
USD | 59,351 | EUR | 57,796 | JPMorgan Chase Bank N.A. | 9/30/22 | 36 | ||||||||||||||
USD | 7,900 | EUR | 7,726 | JPMorgan Chase Bank N.A. | 9/30/22 | (29) | ||||||||||||||
USD | 2,355,858 | EUR | 2,228,015 | JPMorgan Chase Bank N.A. | 9/30/22 | 69,286 | ||||||||||||||
USD | 270,629 | EUR | 255,943 | JPMorgan Chase Bank N.A. | 9/30/22 | 7,959 | ||||||||||||||
USD | 8,766 | EUR | 8,227 | JPMorgan Chase Bank N.A. | 9/30/22 | 322 | ||||||||||||||
USD | 60,108 | EUR | 56,668 | JPMorgan Chase Bank N.A. | 9/30/22 | 1,951 | ||||||||||||||
USD | 5,359 | EUR | 5,249 | JPMorgan Chase Bank N.A. | 9/30/22 | (27) | ||||||||||||||
USD | 8,280 | EUR | 8,104 | JPMorgan Chase Bank N.A. | 9/30/22 | (37) | ||||||||||||||
USD | 62,142 | EUR | 61,393 | JPMorgan Chase Bank N.A. | 9/30/22 | (864) | ||||||||||||||
USD | 10,543 | EUR | 10,330 | JPMorgan Chase Bank N.A. | 9/30/22 | (58) | ||||||||||||||
USD | 91,014 | EUR | 89,095 | JPMorgan Chase Bank N.A. | 9/30/22 | (422) | ||||||||||||||
USD | 8,322 | EUR | 8,146 | JPMorgan Chase Bank N.A. | 9/30/22 | (39) | ||||||||||||||
USD | 7,047 | EUR | 6,886 | JPMorgan Chase Bank N.A. | 9/30/22 | (21) | ||||||||||||||
USD | 11,128 | EUR | 10,833 | JPMorgan Chase Bank N.A. | 9/30/22 | 10 | ||||||||||||||
USD | 72,965 | EUR | 71,359 | JPMorgan Chase Bank N.A. | 9/30/22 | (270) | ||||||||||||||
GBP | 13,528 | USD | 16,625 | Bank of America N.A. | 9/30/22 | (127) |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
GBP | 19,673 | USD | 23,731 | Bank of America N.A. | 9/30/22 | $ | 259 | |||||||||||||
GBP | 11,840 | USD | 14,158 | Bank of America N.A. | 9/30/22 | 281 | ||||||||||||||
GBP | 9,756 | USD | 11,590 | Bank of America N.A. | 9/30/22 | 306 | ||||||||||||||
GBP | 20,732 | USD | 25,020 | Bank of America N.A. | 9/30/22 | 262 | ||||||||||||||
GBP | 8,838 | USD | 10,643 | Bank of America N.A. | 9/30/22 | 134 | ||||||||||||||
USD | 1,584,687 | GBP | 1,263,071 | Bank of America N.A. | 9/14/22 | 45,012 | ||||||||||||||
USD | 493,483 | GBP | 401,683 | Bank of America N.A. | 9/30/22 | 3,653 | ||||||||||||||
USD | 15,067 | GBP | 12,330 | Bank of America N.A. | 9/30/22 | 31 | ||||||||||||||
USD | 12,639 | GBP | 10,401 | Bank of America N.A. | 9/30/22 | (45) | ||||||||||||||
USD | 14,046 | GBP | 11,667 | Bank of America N.A. | 9/30/22 | (181) | ||||||||||||||
USD | 12,242 | GBP | 10,170 | Bank of America N.A. | 9/30/22 | (160) | ||||||||||||||
USD | 11,955 | GBP | 9,990 | Bank of America N.A. | 9/30/22 | (228) | ||||||||||||||
JPY | 292,951,068 | USD | 2,191,173 | Bank of America N.A. | 9/14/22 | 12,821 | ||||||||||||||
JPY | 595,000 | USD | 4,405 | Bank of America N.A. | 9/30/22 | 78 | ||||||||||||||
JPY | 816,000 | USD | 6,039 | Bank of America N.A. | 9/30/22 | 109 | ||||||||||||||
JPY | 1,290,300 | USD | 9,347 | Bank of America N.A. | 9/30/22 | 374 | ||||||||||||||
USD | 2,302,523 | JPY | 302,339,998 | Bank of America N.A. | 9/14/22 | 27,892 | ||||||||||||||
USD | 130,771 | JPY | 17,544,000 | Bank of America N.A. | 9/30/22 | (1,397) | ||||||||||||||
USD | 6,241 | JPY | 843,200 | Bank of America N.A. | 9/30/22 | (111) | ||||||||||||||
USD | 3,315 | JPY | 455,600 | Bank of America N.A. | 9/30/22 | (117) | ||||||||||||||
MXN | 2,290,000 | USD | 115,093 | Goldman Sachs & Co. | 9/14/22 | (3,641) | ||||||||||||||
USD | 118,470 | MXN | 2,366,833 | Goldman Sachs & Co. | 9/14/22 | 3,278 | ||||||||||||||
USD | 59,445 | MYR | 261,247 | Goldman Sachs & Co. | 9/14/22 | 782 | ||||||||||||||
NOK | 66,769 | USD | 6,496 | UBS AG | 9/30/22 | 421 | ||||||||||||||
NOK | 72,021 | USD | 7,154 | UBS AG | 9/30/22 | 307 | ||||||||||||||
NOK | 188,624 | USD | 18,926 | UBS AG | 9/30/22 | 614 | ||||||||||||||
NOK | 83,681 | USD | 8,445 | UBS AG | 9/30/22 | 224 | ||||||||||||||
NOK | 52,452 | USD | 5,299 | UBS AG | 9/30/22 | 135 | ||||||||||||||
NOK | 57,895 | USD | 5,885 | UBS AG | 9/30/22 | 113 | ||||||||||||||
USD | 239,093 | NOK | 2,379,848 | UBS AG | 9/30/22 | (7,441) | ||||||||||||||
USD | 8,740 | NOK | 85,726 | UBS AG | 9/30/22 | (141) | ||||||||||||||
USD | 12,667 | NOK | 127,949 | UBS AG | 9/30/22 | (588) | ||||||||||||||
USD | 141,194 | THB | 4,850,729 | Goldman Sachs & Co. | 9/14/22 | 9,024 | ||||||||||||||
$ | 618,839 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
Korean Treasury 10-Year Bonds | 3 | September 2022 | $ | 267,185 | $ | 14,752 | ||||||||
U.K. Gilt 10-Year Bonds | 3 | September 2022 | 431,759 | 434 | ||||||||||
U.S. Treasury 10-Year Notes | 17 | September 2022 | 2,059,391 | 2,553 | ||||||||||
U.S. Treasury 10-Year Ultra Notes | 31 | September 2022 | 4,068,750 | 46,550 | ||||||||||
U.S. Treasury 2-Year Notes | 35 | September 2022 | 7,366,133 | (30,967) | ||||||||||
U.S. Treasury 5-Year Notes | 97 | September 2022 | 11,031,476 | 161,233 | ||||||||||
U.S. Treasury Long Bonds | 25 | September 2022 | 3,600,000 | 118,701 | ||||||||||
$ | 28,824,694 | $ | 313,256 |
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS | |||||||||||||||||||||||
Reference Entity | Type‡ | Fixed Rate Received (Paid) Quarterly | Termination Date | Notional Amount | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Value^ | ||||||||||||||||
Markit CDX North America High Yield Index Series 38 | Sell | 5.00% | 6/20/27 | $ | 3,564,000 | $ | (116,644) | $ | 179,163 | $ | 62,519 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
ADR | - | American Depositary Receipt | ||||||
AUD | - | Australian Dollar | ||||||
CAD | - | Canadian Dollar | ||||||
CDX | - | Credit Derivatives Indexes | ||||||
CHF | - | Swiss Franc | ||||||
CNY | - | Chinese Yuan | ||||||
CZK | - | Czech Koruna | ||||||
DKK | - | Danish Krone | ||||||
EUR | - | Euro | ||||||
FHLB | - | Federal Home Loan Bank | ||||||
FHLMC | - | Federal Home Loan Mortgage Corporation | ||||||
FNMA | - | Federal National Mortgage Association | ||||||
GBP | - | British Pound | ||||||
GNMA | - | Government National Mortgage Association | ||||||
GO | - | General Obligation | ||||||
H15T1Y | - | Constant Maturity U.S. Treasury Note Yield Curve Rate Index | ||||||
IO | - | Interest Only | ||||||
JPY | - | Japanese Yen | ||||||
LIBOR | - | London Interbank Offered Rate | ||||||
LOC | - | Letter of Credit | ||||||
MXN | - | Mexican Peso | ||||||
MYR | - | Malaysian Ringgit | ||||||
NOK | - | Norwegian Krone | ||||||
PLN | - | Polish Zloty | ||||||
SEQ | - | Sequential Payer | ||||||
SGD | - | Singapore Dollar | ||||||
SOFR | - | Secured Overnight Financing Rate | ||||||
THB | - | Thai Baht | ||||||
USD | - | United States Dollar | ||||||
VRDN | - | Variable Rate Demand Note. The instrument may be payable upon demand and 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. The date of the demand feature is disclosed. | ||||||
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. The security's effective maturity date may be shorter than the final maturity date shown. |
Statement of Assets and Liabilities |
JULY 31, 2022 | |||||
Assets | |||||
Investment securities - affiliated, at value (cost of $314,385,194) | $ | 355,985,724 | |||
Investment securities - unaffiliated, at value (cost of $263,892,235) — including $2,354,472 of securities on loan | 293,019,809 | ||||
Investment made with cash collateral received for securities on loan, at value (cost of $1,808,776) | 1,808,776 | ||||
Total investment securities, at value (cost of $580,086,205) | 650,814,309 | ||||
Foreign currency holdings, at value (cost of $61,179) | 56,022 | ||||
Foreign deposits with broker for futures contracts, at value (cost of $20,153) | 19,986 | ||||
Receivable for investments sold | 1,276,621 | ||||
Receivable for capital shares sold | 186,646 | ||||
Receivable for variation margin on futures contracts | 41,468 | ||||
Receivable for variation margin on swap agreements | 6,437 | ||||
Unrealized appreciation on forward foreign currency exchange contracts | 650,892 | ||||
Dividends and interest receivable | 1,009,005 | ||||
Securities lending receivable | 2,652 | ||||
Other assets | 26,184 | ||||
654,090,222 | |||||
Liabilities | |||||
Disbursements in excess of demand deposit cash | 355,999 | ||||
Payable for collateral received for forward foreign currency exchange contracts | 90,000 | ||||
Payable for collateral received for securities on loan | 1,808,776 | ||||
Payable for investments purchased | 423,303 | ||||
Payable for capital shares redeemed | 622,939 | ||||
Unrealized depreciation on forward foreign currency exchange contracts | 32,053 | ||||
Accrued management fees | 265,873 | ||||
Distribution and service fees payable | 49,236 | ||||
Accrued other expenses | 57,540 | ||||
3,705,719 | |||||
Net Assets | $ | 650,384,503 | |||
Net Assets Consist of: | |||||
Capital (par value and paid-in surplus) | $ | 556,339,386 | |||
Distributable earnings | 94,045,117 | ||||
$ | 650,384,503 |
Net Assets | Shares Outstanding | Net Asset Value Per Share* | |||||||||
Investor Class, $0.01 Par Value | $250,890,567 | 34,856,879 | $7.20 | ||||||||
I Class, $0.01 Par Value | $60,933,505 | 8,545,880 | $7.13 | ||||||||
A Class, $0.01 Par Value | $144,188,343 | 19,806,665 | $7.28 | ||||||||
C Class, $0.01 Par Value | $16,652,287 | 2,379,323 | $7.00 | ||||||||
R Class, $0.01 Par Value | $15,518,329 | 2,135,807 | $7.27 | ||||||||
R5 Class, $0.01 Par Value | $15,543 | 2,179 | $7.13 | ||||||||
R6 Class, $0.01 Par Value | $162,185,929 | 22,823,245 | $7.11 |
Statement of Operations |
YEAR ENDED JULY 31, 2022 | |||||
Investment Income (Loss) | |||||
Income: | |||||
Income distributions from affiliated funds | $ | 8,457,164 | |||
Dividends (net of foreign taxes withheld of $158,532) | 4,449,530 | ||||
Interest (net of foreign taxes withheld of $1,941) | 3,593,701 | ||||
Securities lending, net | 16,208 | ||||
16,516,603 | |||||
Expenses: | |||||
Management fees | 7,675,622 | ||||
Distribution and service fees: | |||||
A Class | 407,288 | ||||
C Class | 199,277 | ||||
R Class | 86,420 | ||||
Directors' fees and expenses | 18,336 | ||||
Other expenses | 95,022 | ||||
8,481,965 | |||||
Fees waived(1) | (3,964,066) | ||||
4,517,899 | |||||
Net investment income (loss) | 11,998,704 | ||||
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) on: | |||||
Investment transactions (including $16,618,139 from affiliated funds and net of foreign tax expenses paid (refunded) of $780) | 45,405,402 | ||||
Forward foreign currency exchange contract transactions | 2,145,255 | ||||
Futures contract transactions | (303,673) | ||||
Swap agreement transactions | 340,729 | ||||
Foreign currency translation transactions | (57,264) | ||||
Capital gain distributions received from affiliated funds | 100,507 | ||||
47,630,956 | |||||
Change in net unrealized appreciation (depreciation) on: | |||||
Investments (including $(68,402,871) from affiliated funds and (increase) decrease in accrued foreign taxes of $1,122) | (137,882,821) | ||||
Forward foreign currency exchange contracts | 385,611 | ||||
Futures contracts | 287,736 | ||||
Swap agreements | (269,437) | ||||
Translation of assets and liabilities in foreign currencies | (45,656) | ||||
(137,524,567) | |||||
Net realized and unrealized gain (loss) | (89,893,611) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (77,894,907) |
Statement of Changes in Net Assets |
YEARS ENDED JULY 31, 2022 AND JULY 31, 2021 | ||||||||
Increase (Decrease) in Net Assets | July 31, 2022 | July 31, 2021 | ||||||
Operations | ||||||||
Net investment income (loss) | $ | 11,998,704 | $ | 7,725,016 | ||||
Net realized gain (loss) | 47,630,956 | 67,658,362 | ||||||
Change in net unrealized appreciation (depreciation) | (137,524,567) | 130,198,616 | ||||||
Net increase (decrease) in net assets resulting from operations | (77,894,907) | 205,581,994 | ||||||
Distributions to Shareholders | ||||||||
From earnings: | ||||||||
Investor Class | (36,011,235) | (17,917,667) | ||||||
I Class | (5,941,362) | (3,556,580) | ||||||
A Class | (19,836,034) | (9,386,645) | ||||||
C Class | (2,358,549) | (1,759,444) | ||||||
R Class | (2,055,153) | (967,727) | ||||||
R5 Class | (1,947) | (777) | ||||||
R6 Class | (23,401,758) | (15,520,125) | ||||||
Decrease in net assets from distributions | (89,606,038) | (49,108,965) | ||||||
Capital Share Transactions | ||||||||
Net increase (decrease) in net assets from capital share transactions (Note 5) | (41,427,439) | (12,970,944) | ||||||
Net increase (decrease) in net assets | (208,928,384) | 143,502,085 | ||||||
Net Assets | ||||||||
Beginning of period | 859,312,887 | 715,810,802 | ||||||
End of period | $ | 650,384,503 | $ | 859,312,887 |
Notes to Financial Statements |
Remaining Contractual Maturity of Agreements | |||||||||||||||||
Overnight and Continuous | <30 days | Between 30 & 90 days | >90 days | Total | |||||||||||||
Securities Lending Transactions(1) | |||||||||||||||||
Common Stocks | $ | 1,808,776 | — | — | — | $ | 1,808,776 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 1,808,776 |
Management Fee Schedule Range | Effective Annual Management Fee | ||||||||||
Before Waiver | After Waiver | ||||||||||
Investor Class | 0.90% to 1.15% | 1.15% | 0.61% | ||||||||
I Class | 0.70% to 0.95% | 0.95% | 0.41% | ||||||||
A Class | 0.90% to 1.15% | 1.15% | 0.61% | ||||||||
C Class | 0.90% to 1.15% | 1.15% | 0.61% | ||||||||
R Class | 0.90% to 1.15% | 1.15% | 0.61% | ||||||||
R5 Class | 0.70% to 0.95% | 0.95% | 0.41% | ||||||||
R6 Class | 0.55% to 0.80% | 0.80% | 0.26% |
Year ended July 31, 2022 | Year ended July 31, 2021 | |||||||||||||
Shares | Amount | Shares | Amount | |||||||||||
Investor Class/Shares Authorized | 550,000,000 | 550,000,000 | ||||||||||||
Sold | 2,192,573 | $ | 17,989,875 | 3,263,504 | $ | 27,478,027 | ||||||||
Issued in reinvestment of distributions | 4,266,590 | 35,199,368 | 2,162,944 | 17,450,952 | ||||||||||
Redeemed | (6,356,508) | (52,076,844) | (5,962,227) | (49,655,857) | ||||||||||
102,655 | 1,112,399 | (535,779) | (4,726,878) | |||||||||||
I Class/Shares Authorized | 150,000,000 | 150,000,000 | ||||||||||||
Sold | 4,912,186 | 37,692,709 | 1,728,521 | 14,299,849 | ||||||||||
Issued in reinvestment of distributions | 718,353 | 5,868,942 | 440,091 | 3,520,729 | ||||||||||
Redeemed | (3,234,459) | (26,172,277) | (2,253,030) | (18,424,221) | ||||||||||
2,396,080 | 17,389,374 | (84,418) | (603,643) | |||||||||||
A Class/Shares Authorized | 325,000,000 | 325,000,000 | ||||||||||||
Sold | 1,788,632 | 14,489,820 | 2,538,820 | 21,425,145 | ||||||||||
Issued in reinvestment of distributions | 2,310,732 | 19,317,722 | 1,114,860 | 9,108,015 | ||||||||||
Redeemed | (3,581,923) | (29,008,106) | (4,024,599) | (33,740,882) | ||||||||||
517,441 | 4,799,436 | (370,919) | (3,207,722) | |||||||||||
C Class/Shares Authorized | 90,000,000 | 90,000,000 | ||||||||||||
Sold | 392,416 | 3,097,455 | 327,892 | 2,685,619 | ||||||||||
Issued in reinvestment of distributions | 292,260 | 2,358,539 | 221,888 | 1,757,356 | ||||||||||
Redeemed | (938,543) | (7,504,053) | (1,951,339) | (15,933,146) | ||||||||||
(253,867) | (2,048,059) | (1,401,559) | (11,490,171) | |||||||||||
R Class/Shares Authorized | 50,000,000 | 50,000,000 | ||||||||||||
Sold | 227,076 | 1,836,368 | 284,266 | 2,416,172 | ||||||||||
Issued in reinvestment of distributions | 244,500 | 2,044,022 | 117,211 | 956,064 | ||||||||||
Redeemed | (379,061) | (3,116,489) | (536,673) | (4,556,180) | ||||||||||
92,515 | 763,901 | (135,196) | (1,183,944) | |||||||||||
R5 Class/Shares Authorized | 50,000,000 | 50,000,000 | ||||||||||||
Sold | 236 | 1,832 | 282 | 2,345 | ||||||||||
Issued in reinvestment of distributions | 238 | 1,947 | 97 | 777 | ||||||||||
Redeemed | (3) | (23) | (49) | (391) | ||||||||||
471 | 3,756 | 330 | 2,731 | |||||||||||
R6 Class/Shares Authorized | 455,000,000 | 455,000,000 | ||||||||||||
Sold | 3,896,466 | 31,939,930 | 3,954,740 | 33,471,186 | ||||||||||
Issued in reinvestment of distributions | 2,878,445 | 23,401,758 | 1,947,318 | 15,520,125 | ||||||||||
Redeemed | (13,818,845) | (118,789,934) | (4,924,949) | (40,752,628) | ||||||||||
(7,043,934) | (63,448,246) | 977,109 | 8,238,683 | |||||||||||
Net increase (decrease) | (4,188,639) | $ | (41,427,439) | (1,550,432) | $ | (12,970,944) |
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Affiliated Funds | $ | 355,985,724 | — | — | |||||||
Common Stocks | 152,659,971 | $ | 44,663,057 | — | |||||||
U.S. Treasury Securities | — | 33,467,953 | — | ||||||||
Sovereign Governments and Agencies | — | 17,697,129 | — | ||||||||
Corporate Bonds | — | 10,574,068 | — | ||||||||
Collateralized Loan Obligations | — | 3,984,595 | — | ||||||||
Asset-Backed Securities | — | 2,002,721 | — | ||||||||
Preferred Stocks | — | 1,699,270 | — | ||||||||
Collateralized Mortgage Obligations | — | 1,067,896 | — | ||||||||
Municipal Securities | — | 906,732 | — | ||||||||
Exchange-Traded Funds | 709,017 | — | — | ||||||||
U.S. Government Agency Mortgage-Backed Securities | — | 414,220 | — | ||||||||
Short-Term Investments | 14,733,727 | 10,248,229 | — | ||||||||
$ | 524,088,439 | $ | 126,725,870 | — | |||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 329,037 | $ | 15,186 | — | ||||||
Swap Agreements | — | 62,519 | — | ||||||||
Forward Foreign Currency Exchange Contracts | — | 650,892 | — | ||||||||
$ | 329,037 | $ | 728,597 | — | |||||||
Liabilities | |||||||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 30,967 | — | — | |||||||
Forward Foreign Currency Exchange Contracts | — | $ | 32,053 | — | |||||||
$ | 30,967 | $ | 32,053 | — |
Asset Derivatives | Liability Derivatives | |||||||||||||
Type of Risk Exposure | Location on Statement of Assets and Liabilities | Value | Location on Statement of Assets and Liabilities | Value | ||||||||||
Credit Risk | Receivable for variation margin on swap agreements* | $ | 6,437 | Payable for variation margin on swap agreements* | — | |||||||||
Foreign Currency Risk | Unrealized appreciation on forward foreign currency exchange contracts | 650,892 | Unrealized depreciation on forward foreign currency exchange contracts | $ | 32,053 | |||||||||
Interest Rate Risk | Receivable for variation margin on futures contracts* | 41,468 | Payable for variation margin on futures contracts* | — | ||||||||||
$ | 698,797 | $ | 32,053 |
Net Realized Gain (Loss) | Change in Net Unrealized Appreciation (Depreciation) | |||||||||||||
Type of Risk Exposure | Location on Statement of Operations | Value | Location on Statement of Operations | Value | ||||||||||
Credit Risk | Net realized gain (loss) on swap agreement transactions | $ | 340,729 | Change in net unrealized appreciation (depreciation) on swap agreements | $ | (269,437) | ||||||||
Foreign Currency Risk | Net realized gain (loss) on forward foreign currency exchange contract transactions | 2,145,255 | Change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts | 385,611 | ||||||||||
Interest Rate Risk | Net realized gain (loss) on futures contract transactions | (303,673) | Change in net unrealized appreciation (depreciation) on futures contracts | 287,736 | ||||||||||
$ | 2,182,311 | $ | 403,910 |
2022 | 2021 | |||||||
Distributions Paid From | ||||||||
Ordinary income | $ | 30,094,483 | $ | 16,745,049 | ||||
Long-term capital gains | $ | 59,511,555 | $ | 32,363,916 |
Federal tax cost of investments | $ | 583,112,833 | |||
Gross tax appreciation of investments | $ | 93,135,142 | |||
Gross tax depreciation of investments | (25,433,666) | ||||
Net tax appreciation (depreciation) of investments | 67,701,476 | ||||
Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies | 137,814 | ||||
Net tax appreciation (depreciation) | $ | 67,839,290 | |||
Other book-to-tax adjustments | $ | (31,889) | |||
Undistributed ordinary income | $ | 4,066,820 | |||
Accumulated long-term gains | $ | 22,170,896 |
Affiliated Fund(1) | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Distributions Received(2) | ||||||||||||||||||
American Century Diversified Corporate Bond ETF | $ | 15,245 | — | — | $ | (1,548) | $ | 13,697 | 288 | — | $ | 271 | ||||||||||||||
American Century Emerging Markets Bond ETF | — | $ | 6,661 | — | (1,478) | 5,183 | 133 | — | 251 | |||||||||||||||||
American Century Focused Dynamic Growth ETF(3) | 46,367 | 1,694 | $ | 2,962 | (13,607) | 31,492 | 526 | $ | 1,920 | — | ||||||||||||||||
American Century Focused Large Cap Value ETF | 61,896 | 2,471 | 18,998 | (3,270) | 42,099 | 715 | 1,457 | 1,943 | ||||||||||||||||||
American Century Multisector Income ETF | — | 26,678 | — | (2,820) | 23,858 | 532 | — | 746 | ||||||||||||||||||
American Century Quality Diversified International ETF | 33,428 | 2,370 | — | (7,455) | 28,343 | 691 | — | 931 | ||||||||||||||||||
American Century STOXX U.S. Quality Growth ETF | 47,414 | 4,735 | 8,426 | (10,763) | 32,960 | 528 | 5,665 | 141 | ||||||||||||||||||
American Century STOXX U.S. Quality Value ETF | 62,021 | 8,834 | 22,917 | (4,917) | 43,021 | 884 | 2,697 | 951 | ||||||||||||||||||
Avantis Emerging Markets Equity ETF | 29,196 | 24,609 | 6,058 | (9,182) | 38,565 | 743 | (697) | 1,174 | ||||||||||||||||||
Avantis International Equity ETF | 31,773 | 1,619 | 24 | (5,236) | 28,132 | 526 | — | 931 | ||||||||||||||||||
Avantis International Small Cap Value ETF | 11,111 | 288 | 1,321 | (1,685) | 8,393 | 150 | 367 | 280 | ||||||||||||||||||
Avantis U.S. Equity ETF | 60,978 | 271 | 10,075 | (6,943) | 44,231 | 623 | 4,914 | 671 | ||||||||||||||||||
Avantis U.S. Small Cap Value ETF | 20,070 | 204 | 4,763 | 501 | 16,012 | 211 | 295 | 268 | ||||||||||||||||||
$ | 419,499 | $ | 80,434 | $ | 75,544 | $ | (68,403) | $ | 355,986 | 6,550 | $ | 16,618 | $ | 8,558 |
Financial Highlights |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
Investor Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $9.09 | 0.13 | (0.93) | (0.80) | (0.14) | (0.95) | (1.09) | $7.20 | (10.38)% | 0.63% | 1.17% | 1.61% | 1.07% | 36% | $250,891 | ||||||||||||||||||||||||||||||||
2021 | $7.45 | 0.08 | 2.09 | 2.17 | (0.06) | (0.47) | (0.53) | $9.09 | 30.04% | 0.67% | 1.16% | 0.95% | 0.46% | 44% | $316,039 | ||||||||||||||||||||||||||||||||
2020 | $7.91 | 0.08 | 0.58 | 0.66 | (0.13) | (0.99) | (1.12) | $7.45 | 8.82% | 0.84% | 1.16% | 1.06% | 0.74% | 109% | $262,987 | ||||||||||||||||||||||||||||||||
2019 | $8.57 | 0.10 | 0.11 | 0.21 | (0.10) | (0.77) | (0.87) | $7.91 | 3.96% | 1.11% | 1.16% | 1.27% | 1.22% | 78% | $300,544 | ||||||||||||||||||||||||||||||||
2018(3) | $9.04 | 0.06 | 0.28 | 0.34 | (0.12) | (0.69) | (0.81) | $8.57 | 4.05% | 1.11%(4) | 1.16%(4) | 1.10%(4) | 1.05%(4) | 58% | $372,601 | ||||||||||||||||||||||||||||||||
2017 | $7.80 | 0.10 | 1.37 | 1.47 | (0.11) | (0.12) | (0.23) | $9.04 | 19.30% | 1.11% | 1.16% | 1.19% | 1.14% | 80% | $448,081 | ||||||||||||||||||||||||||||||||
I Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $9.02 | 0.15 | (0.93) | (0.78) | (0.16) | (0.95) | (1.11) | $7.13 | (10.28)% | 0.43% | 0.97% | 1.81% | 1.27% | 36% | $60,934 | ||||||||||||||||||||||||||||||||
2021 | $7.40 | 0.10 | 2.07 | 2.17 | (0.08) | (0.47) | (0.55) | $9.02 | 30.42% | 0.47% | 0.96% | 1.15% | 0.66% | 44% | $55,466 | ||||||||||||||||||||||||||||||||
2020 | $7.86 | 0.09 | 0.59 | 0.68 | (0.15) | (0.99) | (1.14) | $7.40 | 8.97% | 0.64% | 0.96% | 1.26% | 0.94% | 109% | $46,105 | ||||||||||||||||||||||||||||||||
2019 | $8.52 | 0.11 | 0.11 | 0.22 | (0.11) | (0.77) | (0.88) | $7.86 | 4.22% | 0.91% | 0.96% | 1.47% | 1.42% | 78% | $52,389 | ||||||||||||||||||||||||||||||||
2018(3) | $9.00 | 0.07 | 0.28 | 0.35 | (0.14) | (0.69) | (0.83) | $8.52 | 4.18% | 0.91%(4) | 0.96%(4) | 1.30%(4) | 1.25%(4) | 58% | $68,975 | ||||||||||||||||||||||||||||||||
2017 | $7.76 | 0.12 | 1.36 | 1.48 | (0.12) | (0.12) | (0.24) | $9.00 | 19.64% | 0.91% | 0.96% | 1.39% | 1.34% | 80% | $139,110 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
A Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $9.18 | 0.11 | (0.94) | (0.83) | (0.12) | (0.95) | (1.07) | $7.28 | (10.64)% | 0.88% | 1.42% | 1.36% | 0.82% | 36% | $144,188 | ||||||||||||||||||||||||||||||||
2021 | $7.52 | 0.06 | 2.11 | 2.17 | (0.04) | (0.47) | (0.51) | $9.18 | 29.69% | 0.92% | 1.41% | 0.70% | 0.21% | 44% | $177,147 | ||||||||||||||||||||||||||||||||
2020 | $7.97 | 0.06 | 0.59 | 0.65 | (0.11) | (0.99) | (1.10) | $7.52 | 8.58% | 1.09% | 1.41% | 0.81% | 0.49% | 109% | $147,856 | ||||||||||||||||||||||||||||||||
2019 | $8.63 | 0.08 | 0.11 | 0.19 | (0.08) | (0.77) | (0.85) | $7.97 | 3.66% | 1.36% | 1.41% | 1.02% | 0.97% | 78% | $168,774 | ||||||||||||||||||||||||||||||||
2018(3) | $9.08 | 0.05 | 0.28 | 0.33 | (0.09) | (0.69) | (0.78) | $8.63 | 3.87% | 1.36%(4) | 1.41%(4) | 0.85%(4) | 0.80%(4) | 58% | $188,883 | ||||||||||||||||||||||||||||||||
2017 | $7.84 | 0.08 | 1.37 | 1.45 | (0.09) | (0.12) | (0.21) | $9.08 | 19.02% | 1.36% | 1.41% | 0.94% | 0.89% | 80% | $209,181 | ||||||||||||||||||||||||||||||||
C Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $8.86 | 0.05 | (0.91) | (0.86) | (0.05) | (0.95) | (1.00) | $7.00 | (11.30)% | 1.63% | 2.17% | 0.61% | 0.07% | 36% | $16,652 | ||||||||||||||||||||||||||||||||
2021 | $7.29 | (0.01) | 2.05 | 2.04 | — | (0.47) | (0.47) | $8.86 | 28.76% | 1.67% | 2.16% | (0.05)% | (0.54)% | 44% | $23,338 | ||||||||||||||||||||||||||||||||
2020 | $7.75 | —(5) | 0.58 | 0.58 | (0.05) | (0.99) | (1.04) | $7.29 | 7.80% | 1.84% | 2.16% | 0.06% | (0.26)% | 109% | $29,423 | ||||||||||||||||||||||||||||||||
2019 | $8.41 | 0.02 | 0.11 | 0.13 | (0.02) | (0.77) | (0.79) | $7.75 | 2.91% | 2.11% | 2.16% | 0.27% | 0.22% | 78% | $36,620 | ||||||||||||||||||||||||||||||||
2018(3) | $8.85 | 0.01 | 0.27 | 0.28 | (0.03) | (0.69) | (0.72) | $8.41 | 3.36% | 2.11%(4) | 2.16%(4) | 0.10%(4) | 0.05%(4) | 58% | $53,503 | ||||||||||||||||||||||||||||||||
2017 | $7.64 | 0.02 | 1.34 | 1.36 | (0.03) | (0.12) | (0.15) | $8.85 | 18.07% | 2.11% | 2.16% | 0.19% | 0.14% | 80% | $66,032 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
R Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $9.17 | 0.09 | (0.95) | (0.86) | (0.09) | (0.95) | (1.04) | $7.27 | (10.88)% | 1.13% | 1.67% | 1.11% | 0.57% | 36% | $15,518 | ||||||||||||||||||||||||||||||||
2021 | $7.51 | 0.04 | 2.11 | 2.15 | (0.02) | (0.47) | (0.49) | $9.17 | 29.58% | 1.17% | 1.66% | 0.45% | (0.04)% | 44% | $18,729 | ||||||||||||||||||||||||||||||||
2020 | $7.96 | 0.04 | 0.59 | 0.63 | (0.09) | (0.99) | (1.08) | $7.51 | 8.16% | 1.34% | 1.66% | 0.56% | 0.24% | 109% | $16,353 | ||||||||||||||||||||||||||||||||
2019 | $8.61 | 0.06 | 0.12 | 0.18 | (0.06) | (0.77) | (0.83) | $7.96 | 3.51% | 1.61% | 1.66% | 0.77% | 0.72% | 78% | $17,858 | ||||||||||||||||||||||||||||||||
2018(3) | $9.06 | 0.03 | 0.28 | 0.31 | (0.07) | (0.69) | (0.76) | $8.61 | 3.72% | 1.61%(4) | 1.66%(4) | 0.60%(4) | 0.55%(4) | 58% | $19,634 | ||||||||||||||||||||||||||||||||
2017 | $7.82 | 0.06 | 1.37 | 1.43 | (0.07) | (0.12) | (0.19) | $9.06 | 18.64% | 1.61% | 1.66% | 0.69% | 0.64% | 80% | $22,514 | ||||||||||||||||||||||||||||||||
R5 Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $9.02 | 0.15 | (0.93) | (0.78) | (0.16) | (0.95) | (1.11) | $7.13 | (10.28)% | 0.43% | 0.97% | 1.81% | 1.27% | 36% | $16 | ||||||||||||||||||||||||||||||||
2021 | $7.40 | 0.10 | 2.07 | 2.17 | (0.08) | (0.47) | (0.55) | $9.02 | 30.24% | 0.47% | 0.96% | 1.15% | 0.66% | 44% | $15 | ||||||||||||||||||||||||||||||||
2020 | $7.86 | 0.09 | 0.59 | 0.68 | (0.15) | (0.99) | (1.14) | $7.40 | 9.11% | 0.64% | 0.96% | 1.26% | 0.94% | 109% | $10 | ||||||||||||||||||||||||||||||||
2019 | $8.53 | 0.11 | 0.10 | 0.21 | (0.11) | (0.77) | (0.88) | $7.86 | 4.08% | 0.91% | 0.96% | 1.47% | 1.42% | 78% | $8 | ||||||||||||||||||||||||||||||||
2018(3) | $9.00 | 0.07 | 0.28 | 0.35 | (0.13) | (0.69) | (0.82) | $8.53 | 4.24% | 0.91%(4) | 0.96%(4) | 1.30%(4) | 1.25%(4) | 58% | $6 | ||||||||||||||||||||||||||||||||
2017(6) | $8.05 | 0.08 | 0.87 | 0.95 | — | — | — | $9.00 | 11.80% | 0.91%(4) | 0.96%(4) | 1.46%(4) | 1.41%(4) | 80%(7) | $6 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
R6 Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $8.99 | 0.16 | (0.92) | (0.76) | (0.17) | (0.95) | (1.12) | $7.11 | (10.05)% | 0.28% | 0.82% | 1.96% | 1.42% | 36% | $162,186 | ||||||||||||||||||||||||||||||||
2021 | $7.38 | 0.11 | 2.06 | 2.17 | (0.09) | (0.47) | (0.56) | $8.99 | 30.57% | 0.32% | 0.81% | 1.30% | 0.81% | 44% | $268,579 | ||||||||||||||||||||||||||||||||
2020 | $7.84 | 0.10 | 0.59 | 0.69 | (0.16) | (0.99) | (1.15) | $7.38 | 9.18% | 0.49% | 0.81% | 1.41% | 1.09% | 109% | $213,077 | ||||||||||||||||||||||||||||||||
2019 | $8.51 | 0.13 | 0.10 | 0.23 | (0.13) | (0.77) | (0.90) | $7.84 | 4.27% | 0.76% | 0.81% | 1.62% | 1.57% | 78% | $200,468 | ||||||||||||||||||||||||||||||||
2018(3) | $8.99 | 0.09 | 0.27 | 0.36 | (0.15) | (0.69) | (0.84) | $8.51 | 4.36% | 0.76%(4) | 0.81%(4) | 1.45%(4) | 1.40%(4) | 58% | $200,589 | ||||||||||||||||||||||||||||||||
2017 | $7.76 | 0.13 | 1.36 | 1.49 | (0.14) | (0.12) | (0.26) | $8.99 | 19.70% | 0.76% | 0.81% | 1.54% | 1.49% | 80% | $90,339 |
Notes to Financial Highlights |
Report of Independent Registered Public Accounting Firm |
Management |
Name (Year of Birth) | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Director | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Directors | |||||||||||||||||
Thomas W. Bunn (1953) | Director | Since 2017 | Retired | 64 | None | ||||||||||||
Chris H. Cheesman (1962) | Director | Since 2019 | Retired. Senior Vice President & Chief Audit Executive, AllianceBernstein (1999 to 2018) | 64 | Alleghany Corporation | ||||||||||||
Barry Fink (1955) | Director | Since 2012 (independent since 2016) | Retired | 64 | None | ||||||||||||
Rajesh K. Gupta (1960) | Director | Since 2019 | Partner Emeritus, SeaCrest Investment Management and SeaCrest Wealth Management (2019 to present); Chief Executive Officer and Chief Investment Officer, SeaCrest Investment Management (2006 to 2019); Chief Executive Officer and Chief Investment Officer, SeaCrest Wealth Management (2008 to 2019) | 64 | None |
Name (Year of Birth) | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Director | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Directors | |||||||||||||||||
Lynn Jenkins (1963) | Director | Since 2019 | Consultant, LJ Strategies (2019 to present); United States Representative, U.S. House of Representatives (2009 to 2018) | 64 | MGP Ingredients, Inc. (2019 to 2021) | ||||||||||||
Jan M. Lewis (1957) | Director and Board Chair | Since 2011 (Board Chair since 2022) | Retired | 64 | None | ||||||||||||
Stephen E. Yates (1948) | Director | Since 2012 | Retired | 105 | None | ||||||||||||
Interested Director | |||||||||||||||||
Jonathan S. Thomas (1963) | Director | Since 2007 | President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Director, ACC and other ACC subsidiaries | 139 | None |
Name (Year of Birth) | Offices with the Funds | Principal Occupation(s) During the Past Five Years | ||||||
Patrick Bannigan (1965) | President since 2019 | Executive Vice President and Director, ACC (2012 to present); Chief Financial Officer, Chief Accounting Officer and Treasurer, ACC (2015 to present). Also serves as President, ACS; Vice President, ACIM; Chief Financial Officer, Chief Accounting Officer and/or Director, ACIM, ACS and other ACC subsidiaries | ||||||
R. Wes Campbell (1974) | Chief Financial Officer and Treasurer since 2018 | Vice President, ACS, (2020 to present); Investment Operations and Investment Accounting, ACS (2000 to present) | ||||||
Amy D. Shelton (1964) | Chief Compliance Officer and Vice President since 2014 | Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present). Also serves as Vice President, ACIS | ||||||
John Pak (1968) | General Counsel and Senior Vice President since 2021 | General Counsel and Senior Vice President, ACC (2021 to present); Also serves as General Counsel and Senior Vice President, ACIM, ACS and ACIS. Chief Legal Officer of Investment and Wealth Management, The Bank of New York Mellon (2014 to 2021) | ||||||
C. Jean Wade (1964) | Vice President since 2012 | Senior Vice President, ACS (2017 to present); Vice President, ACS (2000 to 2017) | ||||||
Robert J. Leach (1966) | Vice President since 2006 | Vice President, ACS (2000 to present) | ||||||
David H. Reinmiller (1963) | Vice President since 2000 | Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS | ||||||
Ward D. Stauffer (1960) | Secretary since 2005 | Attorney, ACC (2003 to present) |
Approval of Management Agreement |
Liquidity Risk Management Program |
Additional Information |
Notes |
Contact Us | americancentury.com | |||||||
Automated Information Line | 1-800-345-8765 | |||||||
Investor Services Representative | 1-800-345-2021 or 816-531-5575 | |||||||
Investors Using Advisors | 1-800-378-9878 | |||||||
Business, Not-For-Profit, Employer-Sponsored Retirement Plans | 1-800-345-3533 | |||||||
Banks and Trust Companies, Broker-Dealers, Financial Professionals, Insurance Companies | 1-800-345-6488 | |||||||
Telecommunications Relay Service for the Deaf | 711 | |||||||
American Century Strategic Asset Allocations, Inc. | ||||||||
Investment Advisor: American Century Investment Management, Inc. Kansas City, Missouri | ||||||||
This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. | ||||||||
©2022 American Century Proprietary Holdings, Inc. All rights reserved. CL-ANN-91037 2209 |
Annual Report | |||||
July 31, 2022 | |||||
Strategic Allocation: Conservative Fund | |||||
Investor Class (TWSCX) | |||||
I Class (ACCIX) | |||||
A Class (ACCAX) | |||||
C Class (AACCX) | |||||
R Class (AACRX) | |||||
R5 Class (AACGX) | |||||
R6 Class (AACDX) |
Table of Contents |
President’s Letter | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Shareholder Fee Example | |||||
Schedule of Investments | |||||
Statement of Assets and Liabilities | |||||
Statement of Operations | |||||
Statement of Changes in Net Assets | |||||
Notes to Financial Statements | |||||
Financial Highlights | |||||
Report of Independent Registered Public Accounting Firm | |||||
Management | |||||
Approval of Management Agreement | |||||
Liquidity Risk Management Program | |||||
Additional Information | |||||
President’s Letter |
Performance |
Total Returns as of July 31, 2022 | ||||||||||||||||||||
Average Annual Returns | ||||||||||||||||||||
Ticker Symbol | 1 year | 5 years | 10 years | Since Inception | Inception Date | |||||||||||||||
Investor Class | TWSCX | -8.39% | 5.14% | 5.52% | — | 2/15/96 | ||||||||||||||
S&P 500 Index | — | -4.64% | 12.82% | 13.79% | — | — | ||||||||||||||
Bloomberg U.S. Aggregate Bond Index | — | -9.12% | 1.28% | 1.65% | — | — | ||||||||||||||
Bloomberg U.S. 1-3 Month Treasury Bill Index | — | 0.26% | 1.05% | 0.60% | — | — | ||||||||||||||
I Class | ACCIX | -8.35% | 5.31% | 5.71% | — | 8/1/00 | ||||||||||||||
A Class | ACCAX | — | 10/2/96 | |||||||||||||||||
No sales charge | -8.78% | 4.84% | 5.24% | — | ||||||||||||||||
With sales charge | -14.02% | 3.60% | 4.63% | — | ||||||||||||||||
C Class | AACCX | -9.37% | 4.06% | 4.44% | — | 9/30/04 | ||||||||||||||
R Class | AACRX | -9.04% | 4.57% | 4.97% | — | 3/31/05 | ||||||||||||||
R5 Class | AACGX | -8.34% | 5.34% | — | 5.69% | 4/10/17 | ||||||||||||||
R6 Class | AACDX | -8.21% | 5.47% | — | 5.47% | 7/26/13 |
Growth of $10,000 Over 10 Years | ||
$10,000 investment made July 31, 2012 | ||
Performance for other share classes will vary due to differences in fee structure. |
Value on July 31, 2022 | |||||
Investor Class — $17,113 | |||||
S&P 500 Index — $36,428 | |||||
Bloomberg U.S. Aggregate Bond Index — $11,776 | |||||
Bloomberg U.S. 1-3 Month Treasury Bill Index — $10,621 | |||||
Total Annual Fund Operating Expenses | ||||||||||||||||||||
Investor Class | I Class | A Class | C Class | R Class | R5 Class | R6 Class | ||||||||||||||
1.11% | 0.91% | 1.36% | 2.11% | 1.61% | 0.91% | 0.76% |
Portfolio Commentary |
Fund Characteristics |
JULY 31, 2022 | |||||
Types of Investments in Portfolio | % of net assets | ||||
Affiliated Funds | 36.8% | ||||
Common Stocks | 19.3% | ||||
U.S. Treasury Securities | 18.8% | ||||
Corporate Bonds | 4.9% | ||||
Sovereign Governments and Agencies | 4.6% | ||||
Collateralized Loan Obligations | 2.1% | ||||
Asset-Backed Securities | 0.7% | ||||
Preferred Stocks | 0.5% | ||||
Collateralized Mortgage Obligations | 0.5% | ||||
Municipal Securities | 0.4% | ||||
U.S. Government Agency Mortgage-Backed Securities | 0.2% | ||||
Exchange-Traded Funds | 0.1% | ||||
Commercial Mortgage-Backed Securities | 0.1% | ||||
Short-Term Investments | 10.8% | ||||
Other Assets and Liabilities | 0.2% |
Shareholder Fee Example |
Beginning Account Value 2/1/22 | Ending Account Value 7/31/22 | Expenses Paid During Period(1) 2/1/22 - 7/31/22 | Annualized Expense Ratio(1) | |||||||||||
Actual | ||||||||||||||
Investor Class | $1,000 | $933.20 | $3.45 | 0.72% | ||||||||||
I Class | $1,000 | $934.10 | $2.49 | 0.52% | ||||||||||
A Class | $1,000 | $932.00 | $4.65 | 0.97% | ||||||||||
C Class | $1,000 | $928.50 | $8.22 | 1.72% | ||||||||||
R Class | $1,000 | $930.60 | $5.84 | 1.22% | ||||||||||
R5 Class | $1,000 | $934.30 | $2.49 | 0.52% | ||||||||||
R6 Class | $1,000 | $934.80 | $1.77 | 0.37% | ||||||||||
Hypothetical | ||||||||||||||
Investor Class | $1,000 | $1,021.22 | $3.61 | 0.72% | ||||||||||
I Class | $1,000 | $1,022.22 | $2.61 | 0.52% | ||||||||||
A Class | $1,000 | $1,019.98 | $4.86 | 0.97% | ||||||||||
C Class | $1,000 | $1,016.27 | $8.60 | 1.72% | ||||||||||
R Class | $1,000 | $1,018.75 | $6.11 | 1.22% | ||||||||||
R5 Class | $1,000 | $1,022.22 | $2.61 | 0.52% | ||||||||||
R6 Class | $1,000 | $1,022.96 | $1.86 | 0.37% |
Schedule of Investments |
Shares/ Principal Amount | Value | ||||||||||
AFFILIATED FUNDS(1) — 36.8% | |||||||||||
American Century Diversified Corporate Bond ETF | 389,060 | $ | 18,485,641 | ||||||||
American Century Emerging Markets Bond ETF | 155,611 | 6,059,492 | |||||||||
American Century Focused Dynamic Growth ETF(2) | 75,660 | 4,527,903 | |||||||||
American Century Focused Large Cap Value ETF | 119,885 | 7,056,551 | |||||||||
American Century Multisector Income ETF | 351,777 | 15,782,194 | |||||||||
American Century Quality Diversified International ETF | 230,179 | 9,444,221 | |||||||||
American Century STOXX U.S. Quality Growth ETF | 207,002 | 12,931,415 | |||||||||
American Century STOXX U.S. Quality Value ETF | 469,483 | 22,840,489 | |||||||||
Avantis International Equity ETF | 200,657 | 10,729,130 | |||||||||
Avantis International Small Cap Value ETF | 33,013 | 1,848,068 | |||||||||
Avantis U.S. Equity ETF | 237,057 | 16,831,047 | |||||||||
Avantis U.S. Small Cap Value ETF | 67,482 | 5,111,087 | |||||||||
TOTAL AFFILIATED FUNDS (Cost $117,059,717) | 131,647,238 | ||||||||||
COMMON STOCKS — 19.3% | |||||||||||
Aerospace and Defense — 0.3% | |||||||||||
Aerojet Rocketdyne Holdings, Inc.(2) | 773 | 33,772 | |||||||||
CAE, Inc.(2) | 5,369 | 142,050 | |||||||||
Curtiss-Wright Corp. | 720 | 103,277 | |||||||||
HEICO Corp. | 783 | 123,487 | |||||||||
Hensoldt AG | 616 | 15,794 | |||||||||
Huntington Ingalls Industries, Inc. | 942 | 204,263 | |||||||||
Leonardo SpA | 2,066 | 19,351 | |||||||||
Lockheed Martin Corp. | 458 | 189,525 | |||||||||
Mercury Systems, Inc.(2) | 639 | 37,708 | |||||||||
QinetiQ Group PLC | 3,139 | 14,619 | |||||||||
Thales SA | 1,036 | 128,837 | |||||||||
1,012,683 | |||||||||||
Air Freight and Logistics — 0.1% | |||||||||||
United Parcel Service, Inc., Class B | 1,092 | 212,820 | |||||||||
Airlines — 0.1% | |||||||||||
Southwest Airlines Co.(2) | 9,108 | 347,197 | |||||||||
Auto Components — 0.4% | |||||||||||
Aptiv PLC(2) | 2,966 | 311,104 | |||||||||
BorgWarner, Inc. | 8,426 | 324,064 | |||||||||
Bridgestone Corp. | 1,500 | 58,509 | |||||||||
CIE Automotive SA(3) | 305 | 8,023 | |||||||||
Continental AG | 3,731 | 265,801 | |||||||||
Fox Factory Holding Corp.(2) | 347 | 32,847 | |||||||||
Hyundai Mobis Co. Ltd. | 698 | 122,853 | |||||||||
Linamar Corp. | 4,173 | 190,246 | |||||||||
Sumitomo Rubber Industries Ltd. | 12,300 | 110,901 | |||||||||
1,424,348 | |||||||||||
Automobiles — 0.3% | |||||||||||
Bayerische Motoren Werke AG | 4,912 | 401,376 | |||||||||
Mercedes-Benz Group AG | 6,867 | 404,974 |
Shares/ Principal Amount | Value | ||||||||||
Tesla, Inc.(2) | 340 | $ | 303,093 | ||||||||
1,109,443 | |||||||||||
Banks — 1.1% | |||||||||||
AIB Group PLC | 7,271 | 16,539 | |||||||||
Banco Bilbao Vizcaya Argentaria SA | 39,481 | 178,915 | |||||||||
Banco Bradesco SA | 65,174 | 182,645 | |||||||||
Banco de Sabadell SA | 16,504 | 10,567 | |||||||||
Banco do Brasil SA | 29,400 | 205,410 | |||||||||
Bancorp, Inc.(2) | 1,049 | 25,805 | |||||||||
Bank Central Asia Tbk PT | 299,200 | 148,780 | |||||||||
Bank of America Corp. | 1,603 | 54,197 | |||||||||
Barclays PLC | 141,009 | 270,112 | |||||||||
BNP Paribas SA | 4,653 | 219,842 | |||||||||
Commerce Bancshares, Inc. | 131 | 9,103 | |||||||||
First Hawaiian, Inc. | 12,444 | 317,197 | |||||||||
Fukuoka Financial Group, Inc. | 1,400 | 24,815 | |||||||||
HDFC Bank Ltd., ADR | 2,172 | 136,402 | |||||||||
HSBC Holdings PLC | 28,800 | 180,869 | |||||||||
JPMorgan Chase & Co. | 1,965 | 226,682 | |||||||||
Jyske Bank A/S(2) | 368 | 19,260 | |||||||||
Mitsubishi UFJ Financial Group, Inc. | 25,200 | 141,989 | |||||||||
Mizuho Financial Group, Inc. | 11,990 | 142,997 | |||||||||
Prosperity Bancshares, Inc. | 4,399 | 325,922 | |||||||||
Regions Financial Corp. | 10,719 | 227,028 | |||||||||
Silvergate Capital Corp., Class A(2) | 285 | 26,588 | |||||||||
Standard Chartered PLC (London) | 22,717 | 156,581 | |||||||||
Sumitomo Mitsui Financial Group, Inc. | 4,400 | 138,037 | |||||||||
Truist Financial Corp. | 6,674 | 336,837 | |||||||||
UniCredit SpA | 16,512 | 163,298 | |||||||||
Westamerica Bancorporation | 2,170 | 130,222 | |||||||||
4,016,639 | |||||||||||
Beverages — 0.2% | |||||||||||
Celsius Holdings, Inc.(2) | 1,732 | 154,079 | |||||||||
Duckhorn Portfolio, Inc.(2) | 1,617 | 29,656 | |||||||||
MGP Ingredients, Inc. | 510 | 53,642 | |||||||||
PepsiCo, Inc. | 1,683 | 294,457 | |||||||||
Pernod Ricard SA | 395 | 77,595 | |||||||||
Royal Unibrew A/S | 222 | 18,933 | |||||||||
628,362 | |||||||||||
Biotechnology — 0.5% | |||||||||||
AbbVie, Inc. | 1,392 | 199,766 | |||||||||
ADC Therapeutics SA(2)(3) | 1,104 | 8,181 | |||||||||
Alnylam Pharmaceuticals, Inc.(2) | 337 | 47,867 | |||||||||
Amgen, Inc. | 270 | 66,817 | |||||||||
Arcus Biosciences, Inc.(2) | 256 | 6,807 | |||||||||
Arcutis Biotherapeutics, Inc.(2) | 1,334 | 32,363 | |||||||||
Biohaven Pharmaceutical Holding Co. Ltd.(2) | 475 | 69,359 | |||||||||
Blueprint Medicines Corp.(2) | 470 | 23,998 | |||||||||
Bridgebio Pharma, Inc.(2) | 843 | 7,300 | |||||||||
Celldex Therapeutics, Inc.(2) | 454 | 13,947 | |||||||||
Centessa Pharmaceuticals PLC, ADR(2)(3) | 1,392 | 6,013 |
Shares/ Principal Amount | Value | ||||||||||
CSL Ltd. | 1,100 | $ | 223,979 | ||||||||
Cytokinetics, Inc.(2) | 1,032 | 43,685 | |||||||||
Erasca, Inc.(2)(3) | 852 | 6,424 | |||||||||
Fate Therapeutics, Inc.(2)(3) | 550 | 16,791 | |||||||||
Global Blood Therapeutics, Inc.(2) | 961 | 31,444 | |||||||||
Halozyme Therapeutics, Inc.(2) | 1,265 | 61,858 | |||||||||
Horizon Therapeutics PLC(2) | 1,699 | 140,966 | |||||||||
Insmed, Inc.(2) | 1,473 | 32,583 | |||||||||
Intellia Therapeutics, Inc.(2) | 191 | 12,369 | |||||||||
Iovance Biotherapeutics, Inc.(2) | 426 | 4,963 | |||||||||
KalVista Pharmaceuticals, Inc.(2) | 1,226 | 15,141 | |||||||||
Karuna Therapeutics, Inc.(2) | 159 | 20,710 | |||||||||
Kinnate Biopharma, Inc.(2)(3) | 821 | 8,785 | |||||||||
Kymera Therapeutics, Inc.(2) | 526 | 11,588 | |||||||||
Natera, Inc.(2) | 791 | 37,177 | |||||||||
Neurocrine Biosciences, Inc.(2) | 1,753 | 165,010 | |||||||||
Relay Therapeutics, Inc.(2) | 555 | 10,556 | |||||||||
Sarepta Therapeutics, Inc.(2) | 2,076 | 192,964 | |||||||||
Seagen, Inc.(2) | 916 | 164,862 | |||||||||
Vertex Pharmaceuticals, Inc.(2) | 265 | 74,309 | |||||||||
Vitrolife AB | 318 | 10,375 | |||||||||
1,768,957 | |||||||||||
Building Products — 0.2% | |||||||||||
Cie de Saint-Gobain | 3,948 | 184,095 | |||||||||
Hayward Holdings, Inc.(2) | 2,902 | 33,866 | |||||||||
Johnson Controls International PLC | 3,213 | 173,213 | |||||||||
Masco Corp. | 1,631 | 90,325 | |||||||||
Masonite International Corp.(2) | 275 | 25,033 | |||||||||
Sanwa Holdings Corp. | 1,600 | 17,284 | |||||||||
Trane Technologies PLC | 1,141 | 167,716 | |||||||||
Trex Co., Inc.(2) | 376 | 24,259 | |||||||||
Zurn Elkay Water Solutions Corp. | 2,742 | 79,381 | |||||||||
795,172 | |||||||||||
Capital Markets — 0.9% | |||||||||||
Ameriprise Financial, Inc. | 1,357 | 366,281 | |||||||||
Ares Management Corp., Class A | 1,073 | 76,880 | |||||||||
Bank of New York Mellon Corp. | 11,202 | 486,839 | |||||||||
BlackRock, Inc. | 234 | 156,588 | |||||||||
Intercontinental Exchange, Inc. | 662 | 67,517 | |||||||||
LPL Financial Holdings, Inc. | 1,306 | 274,156 | |||||||||
Morgan Stanley | 3,183 | 268,327 | |||||||||
MSCI, Inc. | 349 | 167,988 | |||||||||
Northern Trust Corp. | 5,228 | 521,650 | |||||||||
Open Lending Corp., Class A(2) | 1,530 | 15,851 | |||||||||
S&P Global, Inc. | 495 | 186,580 | |||||||||
State Street Corp. | 1,018 | 72,319 | |||||||||
T. Rowe Price Group, Inc. | 2,919 | 360,409 | |||||||||
3,021,385 | |||||||||||
Chemicals — 0.4% | |||||||||||
Air Liquide SA | 912 | 125,384 | |||||||||
Air Products and Chemicals, Inc. | 288 | 71,490 |
Shares/ Principal Amount | Value | ||||||||||
Akzo Nobel NV | 2,485 | $ | 167,242 | ||||||||
Albemarle Corp. | 117 | 28,584 | |||||||||
Avient Corp. | 1,708 | 73,700 | |||||||||
Axalta Coating Systems Ltd.(2) | 6,648 | 167,663 | |||||||||
Diversey Holdings Ltd.(2) | 6,590 | 49,359 | |||||||||
Ecolab, Inc. | 473 | 78,125 | |||||||||
Element Solutions, Inc. | 6,229 | 123,085 | |||||||||
K+S AG | 200 | 4,217 | |||||||||
Koninklijke DSM NV | 1,113 | 178,246 | |||||||||
Linde PLC | 725 | 218,950 | |||||||||
OCI NV | 139 | 4,826 | |||||||||
Sherwin-Williams Co. | 147 | 35,565 | |||||||||
Sika AG | 375 | 92,658 | |||||||||
Symrise AG | 1,372 | 160,093 | |||||||||
Tokyo Ohka Kogyo Co. Ltd. | 200 | 10,370 | |||||||||
1,589,557 | |||||||||||
Commercial Services and Supplies — 0.1% | |||||||||||
Brink's Co. | 806 | 45,894 | |||||||||
Clean Harbors, Inc.(2) | 538 | 52,503 | |||||||||
Cleanaway Waste Management Ltd. | 3,169 | 6,105 | |||||||||
Driven Brands Holdings, Inc.(2) | 2,683 | 81,509 | |||||||||
Elis SA | 1,165 | 17,389 | |||||||||
GFL Environmental, Inc. | 4,569 | 126,333 | |||||||||
Republic Services, Inc. | 698 | 96,785 | |||||||||
SPIE SA | 726 | 17,435 | |||||||||
443,953 | |||||||||||
Communications Equipment — 0.3% | |||||||||||
Arista Networks, Inc.(2) | 2,476 | 288,776 | |||||||||
Cisco Systems, Inc. | 6,841 | 310,376 | |||||||||
F5, Inc.(2) | 2,203 | 368,694 | |||||||||
Juniper Networks, Inc. | 2,235 | 62,647 | |||||||||
1,030,493 | |||||||||||
Construction and Engineering — 0.1% | |||||||||||
Arcadis NV | 266 | 9,835 | |||||||||
Construction Partners, Inc., Class A(2) | 2,287 | 54,385 | |||||||||
Eiffage SA | 1,696 | 159,151 | |||||||||
Hazama Ando Corp. | 4,700 | 31,639 | |||||||||
SHO-BOND Holdings Co. Ltd. | 400 | 17,698 | |||||||||
Vinci SA | 1,394 | 133,627 | |||||||||
406,335 | |||||||||||
Construction Materials† | |||||||||||
Eagle Materials, Inc. | 221 | 27,945 | |||||||||
Summit Materials, Inc., Class A(2) | 1,497 | 41,183 | |||||||||
69,128 | |||||||||||
Consumer Finance† | |||||||||||
American Express Co. | 579 | 89,178 | |||||||||
Containers and Packaging — 0.2% | |||||||||||
Amcor PLC | 3,652 | 47,293 | |||||||||
AptarGroup, Inc. | 271 | 29,203 | |||||||||
Avery Dennison Corp. | 718 | 136,750 | |||||||||
Ball Corp. | 1,680 | 123,346 |
Shares/ Principal Amount | Value | ||||||||||
Graphic Packaging Holding Co. | 1,905 | $ | 42,386 | ||||||||
Huhtamaki Oyj | 580 | 22,608 | |||||||||
Packaging Corp. of America | 1,871 | 263,081 | |||||||||
SIG Group AG(2) | 880 | 22,958 | |||||||||
Sonoco Products Co. | 2,928 | 185,899 | |||||||||
873,524 | |||||||||||
Distributors† | |||||||||||
D'ieteren Group | 163 | 26,753 | |||||||||
Diversified Consumer Services† | |||||||||||
European Wax Center, Inc., Class A | 1,930 | 40,376 | |||||||||
IDP Education Ltd. | 769 | 15,472 | |||||||||
55,848 | |||||||||||
Diversified Financial Services† | |||||||||||
Zenkoku Hosho Co. Ltd. | 400 | 13,608 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
Cellnex Telecom SA | 2,837 | 126,896 | |||||||||
IHS Holding Ltd.(2) | 1,184 | 10,194 | |||||||||
Internet Initiative Japan, Inc. | 400 | 16,242 | |||||||||
Verizon Communications, Inc. | 4,404 | 203,421 | |||||||||
356,753 | |||||||||||
Electric Utilities — 0.4% | |||||||||||
Acciona SA(3) | 114 | 23,458 | |||||||||
Contact Energy Ltd. | 1,252 | 6,040 | |||||||||
Edison International | 6,363 | 431,220 | |||||||||
Evergy, Inc. | 874 | 59,659 | |||||||||
Eversource Energy | 921 | 81,251 | |||||||||
Iberdrola SA | 19,059 | 203,521 | |||||||||
IDACORP, Inc. | 232 | 25,919 | |||||||||
NextEra Energy, Inc. | 4,308 | 363,983 | |||||||||
Pinnacle West Capital Corp. | 3,045 | 223,716 | |||||||||
1,418,767 | |||||||||||
Electrical Equipment — 0.6% | |||||||||||
AMETEK, Inc. | 1,453 | 179,445 | |||||||||
Atkore, Inc.(2) | 1,040 | 103,241 | |||||||||
Eaton Corp. PLC | 835 | 123,906 | |||||||||
Emerson Electric Co. | 4,928 | 443,865 | |||||||||
Generac Holdings, Inc.(2) | 498 | 133,613 | |||||||||
Hexatronic Group AB(3) | 1,975 | 23,958 | |||||||||
Hubbell, Inc. | 375 | 82,132 | |||||||||
Nexans SA | 178 | 17,096 | |||||||||
nVent Electric PLC | 12,419 | 438,515 | |||||||||
Plug Power, Inc.(2)(3) | 1,781 | 38,007 | |||||||||
Regal Rexnord Corp. | 1,000 | 134,300 | |||||||||
Rockwell Automation, Inc. | 458 | 116,918 | |||||||||
Schneider Electric SE | 1,609 | 222,531 | |||||||||
Sensata Technologies Holding PLC | 938 | 41,713 | |||||||||
Ushio, Inc. | 1,100 | 15,209 | |||||||||
2,114,449 | |||||||||||
Electronic Equipment, Instruments and Components — 0.4% | |||||||||||
CDW Corp. | 915 | 166,100 |
Shares/ Principal Amount | Value | ||||||||||
Cognex Corp. | 3,642 | $ | 185,669 | ||||||||
Hexagon AB, B Shares | 9,296 | 109,456 | |||||||||
Jabil, Inc. | 691 | 41,004 | |||||||||
Keyence Corp. | 400 | 158,537 | |||||||||
Keysight Technologies, Inc.(2) | 2,381 | 387,151 | |||||||||
National Instruments Corp. | 1,093 | 41,534 | |||||||||
Sesa SpA | 55 | 7,806 | |||||||||
TE Connectivity Ltd. | 1,585 | 211,962 | |||||||||
1,309,219 | |||||||||||
Energy Equipment and Services — 0.2% | |||||||||||
Aker Solutions ASA | 5,426 | 16,819 | |||||||||
Baker Hughes Co. | 6,362 | 163,440 | |||||||||
Schlumberger NV | 8,817 | 326,493 | |||||||||
Worley Ltd. | 1,371 | 13,836 | |||||||||
520,588 | |||||||||||
Entertainment — 0.1% | |||||||||||
CTS Eventim AG & Co. KGaA(2) | 42 | 2,313 | |||||||||
Electronic Arts, Inc. | 555 | 72,833 | |||||||||
Live Nation Entertainment, Inc.(2) | 940 | 88,351 | |||||||||
ROBLOX Corp., Class A(2) | 596 | 25,586 | |||||||||
Roku, Inc.(2) | 586 | 38,395 | |||||||||
Universal Music Group NV | 6,705 | 151,778 | |||||||||
Walt Disney Co.(2) | 1,291 | 136,975 | |||||||||
516,231 | |||||||||||
Equity Real Estate Investment Trusts (REITs) — 1.2% | |||||||||||
Agree Realty Corp. | 910 | 72,427 | |||||||||
Alexandria Real Estate Equities, Inc. | 272 | 45,092 | |||||||||
American Homes 4 Rent, Class A | 804 | 30,456 | |||||||||
American Tower Corp. | 105 | 28,437 | |||||||||
Americold Realty Trust, Inc. | 1,161 | 38,023 | |||||||||
Arena REIT | 3,713 | 12,604 | |||||||||
AvalonBay Communities, Inc. | 213 | 45,569 | |||||||||
Big Yellow Group PLC | 572 | 9,922 | |||||||||
Camden Property Trust | 481 | 67,869 | |||||||||
CapitaLand Integrated Commercial Trust | 13,500 | 21,326 | |||||||||
Comforia Residential REIT, Inc.(3) | 12 | 30,309 | |||||||||
Corporate Office Properties Trust | 686 | 19,311 | |||||||||
Digital Realty Trust, Inc. | 461 | 61,059 | |||||||||
Dream Industrial Real Estate Investment Trust | 925 | 9,116 | |||||||||
Duke Realty Corp. | 602 | 37,661 | |||||||||
Embassy Office Parks REIT | 2,342 | 10,767 | |||||||||
Equinix, Inc. | 534 | 375,797 | |||||||||
Equity LifeStyle Properties, Inc. | 592 | 43,524 | |||||||||
Essential Properties Realty Trust, Inc. | 1,276 | 30,777 | |||||||||
Essex Property Trust, Inc. | 695 | 199,138 | |||||||||
GLP J-Reit | 16 | 21,042 | |||||||||
Goodman Group | 3,290 | 48,149 | |||||||||
Healthcare Realty Trust, Inc., Class A | 5,693 | 149,441 | |||||||||
Healthpeak Properties, Inc. | 11,298 | 312,164 | |||||||||
Host Hotels & Resorts, Inc. | 2,210 | 39,360 | |||||||||
Invincible Investment Corp. | 101 | 31,773 |
Shares/ Principal Amount | Value | ||||||||||
Invitation Homes, Inc. | 1,340 | $ | 52,300 | ||||||||
Iron Mountain, Inc. | 685 | 33,216 | |||||||||
Japan Hotel REIT Investment Corp. | 73 | 37,884 | |||||||||
Kimco Realty Corp. | 2,468 | 54,567 | |||||||||
Kite Realty Group Trust | 2,568 | 51,078 | |||||||||
Life Storage, Inc. | 245 | 30,843 | |||||||||
Link REIT | 5,200 | 43,547 | |||||||||
NETSTREIT Corp. | 1,339 | 27,450 | |||||||||
Orix JREIT, Inc. | 18 | 25,824 | |||||||||
Prologis, Inc. | 4,514 | 598,376 | |||||||||
Public Storage | 318 | 103,798 | |||||||||
Realty Income Corp. | 3,633 | 268,806 | |||||||||
Regency Centers Corp. | 4,176 | 269,060 | |||||||||
Rexford Industrial Realty, Inc. | 2,233 | 146,061 | |||||||||
Ryman Hospitality Properties, Inc.(2) | 766 | 67,822 | |||||||||
Sabra Health Care REIT, Inc. | 1,169 | 17,991 | |||||||||
Scentre Group | 8,712 | 17,853 | |||||||||
Segro PLC | 12,397 | 165,847 | |||||||||
Shaftesbury PLC(3) | 1,888 | 11,585 | |||||||||
Shopping Centres Australasia Property Group | 3,617 | 7,549 | |||||||||
SOSiLA Logistics REIT, Inc. | 20 | 23,098 | |||||||||
Suntec Real Estate Investment Trust | 3,200 | 3,738 | |||||||||
Tritax Big Box REIT PLC | 7,805 | 18,778 | |||||||||
UDR, Inc. | 1,180 | 57,112 | |||||||||
Ventas, Inc. | 844 | 45,390 | |||||||||
VICI Properties, Inc. | 3,255 | 111,288 | |||||||||
Vicinity Centres | 21,687 | 31,732 | |||||||||
Welltower, Inc. | 1,077 | 92,988 | |||||||||
Weyerhaeuser Co. | 1,745 | 63,378 | |||||||||
4,270,072 | |||||||||||
Food and Staples Retailing — 0.3% | |||||||||||
Axfood AB | 287 | 9,112 | |||||||||
BJ's Wholesale Club Holdings, Inc.(2) | 772 | 52,264 | |||||||||
Costco Wholesale Corp. | 223 | 120,710 | |||||||||
Grocery Outlet Holding Corp.(2) | 663 | 28,323 | |||||||||
Kobe Bussan Co. Ltd. | 4,600 | 131,124 | |||||||||
Koninklijke Ahold Delhaize NV | 12,999 | 357,976 | |||||||||
Kroger Co. | 1,364 | 63,344 | |||||||||
MARR SpA | 525 | 7,266 | |||||||||
MatsukiyoCocokara & Co. | 600 | 22,654 | |||||||||
Metcash Ltd. | 1,423 | 4,148 | |||||||||
Sysco Corp. | 2,460 | 208,854 | |||||||||
1,005,775 | |||||||||||
Food Products — 0.4% | |||||||||||
Bakkafrost P/F | 155 | 10,806 | |||||||||
Conagra Brands, Inc. | 11,194 | 382,947 | |||||||||
Freshpet, Inc.(2) | 621 | 33,186 | |||||||||
General Mills, Inc. | 676 | 50,558 | |||||||||
Hershey Co. | 1,279 | 291,561 | |||||||||
J.M. Smucker Co. | 1,363 | 180,352 | |||||||||
Kellogg Co. | 777 | 57,436 |
Shares/ Principal Amount | Value | ||||||||||
Mondelez International, Inc., Class A | 2,133 | $ | 136,597 | ||||||||
Orkla ASA | 11,759 | 101,507 | |||||||||
Sovos Brands, Inc.(2) | 2,315 | 32,780 | |||||||||
Tate & Lyle PLC | 1,515 | 14,842 | |||||||||
Toyo Suisan Kaisha Ltd. | 600 | 25,493 | |||||||||
Vital Farms, Inc.(2) | 740 | 8,732 | |||||||||
1,326,797 | |||||||||||
Gas Utilities — 0.1% | |||||||||||
Atmos Energy Corp. | 478 | 58,024 | |||||||||
Brookfield Infrastructure Corp., Class A(3) | 402 | 18,416 | |||||||||
Italgas SpA | 1,274 | 7,288 | |||||||||
Nippon Gas Co. Ltd. | 1,500 | 22,522 | |||||||||
Spire, Inc. | 4,452 | 334,969 | |||||||||
441,219 | |||||||||||
Health Care Equipment and Supplies — 0.6% | |||||||||||
Alcon, Inc. | 2,417 | 190,228 | |||||||||
Baxter International, Inc. | 1,635 | 95,909 | |||||||||
Becton Dickinson and Co. | 397 | 96,991 | |||||||||
CryoPort, Inc.(2) | 1,021 | 37,981 | |||||||||
DENTSPLY SIRONA, Inc. | 3,570 | 129,091 | |||||||||
DexCom, Inc.(2) | 1,755 | 144,050 | |||||||||
Edwards Lifesciences Corp.(2) | 1,641 | 164,986 | |||||||||
Embecta Corp.(2) | 4,446 | 130,846 | |||||||||
Establishment Labs Holdings, Inc.(2)(3) | 465 | 27,570 | |||||||||
IDEXX Laboratories, Inc.(2) | 526 | 209,969 | |||||||||
Inari Medical, Inc.(2) | 761 | 59,038 | |||||||||
Inmode Ltd.(2) | 367 | 12,199 | |||||||||
Jeol Ltd. | 400 | 18,186 | |||||||||
Koninklijke Philips NV, NY Shares | 3,807 | 78,957 | |||||||||
Medtronic PLC | 375 | 34,695 | |||||||||
Menicon Co. Ltd. | 600 | 15,130 | |||||||||
NeuroPace, Inc.(2)(3) | 1,448 | 8,485 | |||||||||
ResMed, Inc. | 159 | 38,243 | |||||||||
SI-BONE, Inc.(2) | 2,101 | 28,238 | |||||||||
Silk Road Medical, Inc.(2) | 1,401 | 63,760 | |||||||||
Tandem Diabetes Care, Inc.(2) | 666 | 44,096 | |||||||||
Zimmer Biomet Holdings, Inc. | 5,652 | 623,924 | |||||||||
2,252,572 | |||||||||||
Health Care Providers and Services — 0.8% | |||||||||||
Alfresa Holdings Corp. | 767 | 10,236 | |||||||||
Amedisys, Inc.(2) | 801 | 96,000 | |||||||||
AmerisourceBergen Corp. | 1,590 | 232,029 | |||||||||
Amvis Holdings, Inc.(3) | 500 | 17,632 | |||||||||
Cardinal Health, Inc. | 2,291 | 136,452 | |||||||||
Chartwell Retirement Residences | 2,693 | 23,932 | |||||||||
Cigna Corp. | 930 | 256,085 | |||||||||
CVS Health Corp. | 2,001 | 191,456 | |||||||||
Encompass Health Corp. | 535 | 27,082 | |||||||||
Enhabit, Inc.(2) | 267 | 4,675 | |||||||||
Ensign Group, Inc. | 548 | 43,670 | |||||||||
HealthEquity, Inc.(2) | 683 | 39,730 |
Shares/ Principal Amount | Value | ||||||||||
Henry Schein, Inc.(2) | 4,239 | $ | 334,160 | ||||||||
Humana, Inc. | 183 | 88,206 | |||||||||
Progyny, Inc.(2) | 789 | 24,088 | |||||||||
Quest Diagnostics, Inc. | 2,838 | 387,586 | |||||||||
R1 RCM, Inc.(2) | 5,246 | 131,150 | |||||||||
Signify Health, Inc., Class A(2)(3) | 1,456 | 24,912 | |||||||||
Tenet Healthcare Corp.(2) | 555 | 36,696 | |||||||||
UnitedHealth Group, Inc. | 599 | 324,862 | |||||||||
Universal Health Services, Inc., Class B | 2,912 | 327,512 | |||||||||
2,758,151 | |||||||||||
Health Care Technology — 0.1% | |||||||||||
Health Catalyst, Inc.(2) | 1,965 | 32,894 | |||||||||
OptimizeRx Corp.(2) | 1,100 | 24,717 | |||||||||
Schrodinger, Inc.(2) | 1,029 | 32,208 | |||||||||
Veeva Systems, Inc., Class A(2) | 817 | 182,665 | |||||||||
272,484 | |||||||||||
Hotels, Restaurants and Leisure — 0.5% | |||||||||||
Airbnb, Inc., Class A(2) | 1,427 | 158,368 | |||||||||
Basic-Fit NV(2)(3) | 396 | 16,061 | |||||||||
Booking Holdings, Inc.(2) | 55 | 106,463 | |||||||||
Chipotle Mexican Grill, Inc.(2) | 197 | 308,151 | |||||||||
Churchill Downs, Inc. | 296 | 62,101 | |||||||||
Compass Group PLC | 6,957 | 163,047 | |||||||||
Corporate Travel Management Ltd.(2) | 1,096 | 14,616 | |||||||||
Cracker Barrel Old Country Store, Inc.(3) | 523 | 49,721 | |||||||||
Expedia Group, Inc.(2) | 445 | 47,192 | |||||||||
Greggs PLC | 238 | 5,934 | |||||||||
Hilton Worldwide Holdings, Inc. | 2,223 | 284,699 | |||||||||
Planet Fitness, Inc., Class A(2) | 912 | 71,875 | |||||||||
Scandic Hotels Group AB(2)(3) | 3,403 | 13,936 | |||||||||
SeaWorld Entertainment, Inc.(2) | 731 | 34,891 | |||||||||
Sodexo SA | 2,558 | 207,847 | |||||||||
Wingstop, Inc. | 515 | 64,983 | |||||||||
Wyndham Hotels & Resorts, Inc. | 528 | 36,648 | |||||||||
1,646,533 | |||||||||||
Household Durables — 0.1% | |||||||||||
Electrolux AB, B Shares | 9,824 | 141,699 | |||||||||
Open House Group Co. Ltd. | 200 | 8,725 | |||||||||
Taylor Wimpey PLC | 127,327 | 198,182 | |||||||||
Token Corp. | 400 | 26,714 | |||||||||
375,320 | |||||||||||
Household Products — 0.2% | |||||||||||
Colgate-Palmolive Co. | 1,004 | 79,055 | |||||||||
Henkel AG & Co. KGaA, Preference Shares | 1,880 | 120,100 | |||||||||
Kimberly-Clark Corp. | 2,182 | 287,566 | |||||||||
Procter & Gamble Co. | 1,381 | 191,835 | |||||||||
678,556 | |||||||||||
Independent Power and Renewable Electricity Producers† | |||||||||||
West Holdings Corp. | 400 | 12,321 | |||||||||
Industrial Conglomerates† | |||||||||||
Honeywell International, Inc. | 798 | 153,583 |
Shares/ Principal Amount | Value | ||||||||||
Insurance — 0.5% | |||||||||||
Aegon NV | 22,712 | $ | 99,756 | ||||||||
Aflac, Inc. | 4,473 | 256,303 | |||||||||
Allstate Corp. | 3,201 | 374,421 | |||||||||
ASR Nederland NV | 679 | 28,380 | |||||||||
Chubb Ltd. | 527 | 99,413 | |||||||||
Goosehead Insurance, Inc., Class A(3) | 661 | 37,155 | |||||||||
Hanover Insurance Group, Inc. | 1,211 | 165,265 | |||||||||
Kinsale Capital Group, Inc. | 258 | 62,748 | |||||||||
Marsh & McLennan Cos., Inc. | 711 | 116,576 | |||||||||
Prudential Financial, Inc. | 1,261 | 126,087 | |||||||||
Reinsurance Group of America, Inc. | 2,741 | 317,353 | |||||||||
RLI Corp. | 424 | 46,631 | |||||||||
Selective Insurance Group, Inc. | 296 | 23,047 | |||||||||
Steadfast Group Ltd. | 2,646 | 9,920 | |||||||||
Storebrand ASA | 2,860 | 24,056 | |||||||||
Travelers Cos., Inc. | 695 | 110,296 | |||||||||
Unipol Gruppo SpA | 2,223 | 9,325 | |||||||||
1,906,732 | |||||||||||
Interactive Media and Services — 0.5% | |||||||||||
Alphabet, Inc., Class A(2) | 7,460 | 867,747 | |||||||||
Autohome, Inc., ADR | 3,165 | 112,959 | |||||||||
Baidu, Inc., Class A(2) | 12,100 | 209,141 | |||||||||
Cargurus, Inc.(2) | 1,546 | 37,552 | |||||||||
carsales.com Ltd. | 316 | 4,607 | |||||||||
Eventbrite, Inc., Class A(2)(3) | 3,150 | 29,484 | |||||||||
Match Group, Inc.(2) | 1,967 | 144,201 | |||||||||
QuinStreet, Inc.(2) | 2,369 | 25,467 | |||||||||
Tencent Holdings Ltd. | 5,300 | 204,838 | |||||||||
1,635,996 | |||||||||||
Internet and Direct Marketing Retail — 0.3% | |||||||||||
Alibaba Group Holding Ltd.(2) | 17,500 | 196,761 | |||||||||
Amazon.com, Inc.(2) | 4,224 | 570,029 | |||||||||
ASOS PLC(2) | 6,651 | 84,647 | |||||||||
Chewy, Inc., Class A(2)(3) | 1,563 | 60,660 | |||||||||
Etsy, Inc.(2) | 351 | 36,406 | |||||||||
JD.com, Inc., Class A | 4,173 | 124,491 | |||||||||
1,072,994 | |||||||||||
IT Services — 0.5% | |||||||||||
Accenture PLC, Class A | 674 | 206,419 | |||||||||
Adyen NV(2) | 89 | 160,091 | |||||||||
Alten SA | 31 | 4,199 | |||||||||
Amdocs Ltd. | 1,892 | 164,718 | |||||||||
Capgemini SE | 964 | 183,870 | |||||||||
Capita PLC(2) | 61,008 | 21,422 | |||||||||
Cloudflare, Inc., Class A(2) | 1,453 | 73,115 | |||||||||
Endava PLC, ADR(2) | 142 | 14,484 | |||||||||
EPAM Systems, Inc.(2) | 441 | 154,019 | |||||||||
Euronet Worldwide, Inc.(2) | 491 | 48,251 | |||||||||
Indra Sistemas SA | 7,709 | 70,520 | |||||||||
Mastercard, Inc., Class A | 609 | 215,458 |
Shares/ Principal Amount | Value | ||||||||||
NEXTDC Ltd.(2) | 4,441 | $ | 36,969 | ||||||||
Okta, Inc.(2) | 327 | 32,193 | |||||||||
Perficient, Inc.(2) | 497 | 52,443 | |||||||||
SCSK Corp. | 900 | 15,849 | |||||||||
Switch, Inc., Class A | 1,529 | 51,695 | |||||||||
TDCX, Inc., ADR(2) | 738 | 5,801 | |||||||||
Thoughtworks Holding, Inc.(2) | 1,983 | 31,054 | |||||||||
Visa, Inc., Class A | 1,490 | 316,044 | |||||||||
1,858,614 | |||||||||||
Leisure Products — 0.1% | |||||||||||
Brunswick Corp. | 559 | 44,787 | |||||||||
Callaway Golf Co.(2) | 2,130 | 48,884 | |||||||||
MIPS AB | 71 | 3,798 | |||||||||
Polaris, Inc. | 761 | 89,250 | |||||||||
186,719 | |||||||||||
Life Sciences Tools and Services — 0.4% | |||||||||||
Agilent Technologies, Inc. | 2,039 | 273,430 | |||||||||
Bio-Techne Corp. | 362 | 139,471 | |||||||||
ICON PLC(2) | 929 | 224,121 | |||||||||
IQVIA Holdings, Inc.(2) | 756 | 181,644 | |||||||||
Lonza Group AG | 334 | 202,989 | |||||||||
MaxCyte, Inc.(2)(3) | 3,961 | 21,587 | |||||||||
Mettler-Toledo International, Inc.(2) | 104 | 140,372 | |||||||||
Thermo Fisher Scientific, Inc. | 333 | 199,271 | |||||||||
1,382,885 | |||||||||||
Machinery — 0.5% | |||||||||||
AGCO Corp. | 267 | 29,082 | |||||||||
Astec Industries, Inc. | 932 | 45,789 | |||||||||
ATS Automation Tooling Systems, Inc.(2) | 1,626 | 51,489 | |||||||||
Cummins, Inc. | 1,597 | 353,432 | |||||||||
Deere & Co. | 179 | 61,429 | |||||||||
Graco, Inc. | 1,484 | 99,665 | |||||||||
IHI Corp. | 500 | 13,184 | |||||||||
IMI PLC | 6,515 | 106,384 | |||||||||
John Bean Technologies Corp. | 491 | 55,144 | |||||||||
Metso Outotec Oyj | 1,458 | 12,053 | |||||||||
Mueller Water Products, Inc., Class A | 3,417 | 44,489 | |||||||||
Oshkosh Corp. | 3,926 | 338,029 | |||||||||
PACCAR, Inc. | 977 | 89,415 | |||||||||
Parker-Hannifin Corp. | 656 | 189,643 | |||||||||
Stanley Black & Decker, Inc. | 784 | 76,307 | |||||||||
Trelleborg AB, B Shares | 513 | 12,605 | |||||||||
Xylem, Inc. | 805 | 74,084 | |||||||||
1,652,223 | |||||||||||
Media — 0.2% | |||||||||||
Comcast Corp., Class A | 1,766 | 66,260 | |||||||||
Fox Corp., Class B | 9,248 | 285,763 | |||||||||
Publicis Groupe SA | 3,270 | 174,014 | |||||||||
WPP PLC | 21,181 | 228,594 | |||||||||
754,631 | |||||||||||
Metals and Mining — 0.1% | |||||||||||
AMG Advanced Metallurgical Group NV | 359 | 10,078 |
Shares/ Principal Amount | Value | ||||||||||
ERO Copper Corp.(2) | 13,516 | $ | 133,730 | ||||||||
IGO Ltd. | 1,410 | 11,049 | |||||||||
Lynas Rare Earths Ltd.(2) | 2,078 | 12,778 | |||||||||
MMC Norilsk Nickel PJSC(4) | 949 | — | |||||||||
OZ Minerals Ltd. | 603 | 8,053 | |||||||||
SSR Mining, Inc. (NASDAQ) | 876 | 14,419 | |||||||||
190,107 | |||||||||||
Mortgage Real Estate Investment Trusts (REITs)† | |||||||||||
AGNC Investment Corp. | 837 | 10,555 | |||||||||
Multi-Utilities — 0.1% | |||||||||||
NorthWestern Corp. | 4,681 | 259,561 | |||||||||
Multiline Retail — 0.1% | |||||||||||
Dollar Tree, Inc.(2) | 2,160 | 357,177 | |||||||||
Ollie's Bargain Outlet Holdings, Inc.(2) | 624 | 36,785 | |||||||||
Target Corp. | 429 | 70,090 | |||||||||
464,052 | |||||||||||
Oil, Gas and Consumable Fuels — 0.5% | |||||||||||
ConocoPhillips | 3,685 | 359,030 | |||||||||
Devon Energy Corp. | 3,276 | 205,897 | |||||||||
Diamondback Energy, Inc. | 831 | 106,385 | |||||||||
Enterprise Products Partners LP | 9,232 | 246,771 | |||||||||
Euronav NV | 1,149 | 15,688 | |||||||||
Excelerate Energy, Inc., Class A(2) | 1,764 | 39,055 | |||||||||
Hess Corp. | 1,403 | 157,795 | |||||||||
Kosmos Energy Ltd.(2) | 13,185 | 83,593 | |||||||||
Matador Resources Co. | 1,628 | 94,066 | |||||||||
Phillips 66 | 1,879 | 167,231 | |||||||||
Pioneer Natural Resources Co. | 551 | 130,559 | |||||||||
Whitecap Resources, Inc.(3) | 14,631 | 111,856 | |||||||||
1,717,926 | |||||||||||
Paper and Forest Products† | |||||||||||
Holmen AB, B Shares | 160 | 6,575 | |||||||||
Mondi PLC | 5,899 | 111,946 | |||||||||
118,521 | |||||||||||
Personal Products† | |||||||||||
Estee Lauder Cos., Inc., Class A | 275 | 75,102 | |||||||||
Medifast, Inc. | 267 | 44,907 | |||||||||
Rohto Pharmaceutical Co. Ltd. | 700 | 20,982 | |||||||||
140,991 | |||||||||||
Pharmaceuticals — 0.8% | |||||||||||
ALK-Abello A/S(2) | 634 | 12,658 | |||||||||
Arvinas, Inc.(2) | 380 | 20,182 | |||||||||
AstraZeneca PLC | 1,987 | 261,372 | |||||||||
AstraZeneca PLC, ADR | 4,759 | 315,189 | |||||||||
Bristol-Myers Squibb Co. | 2,991 | 220,676 | |||||||||
Edgewise Therapeutics, Inc.(2)(3) | 853 | 8,249 | |||||||||
GSK PLC | 12,654 | 265,863 | |||||||||
Harmony Biosciences Holdings, Inc.(2) | 579 | 29,373 | |||||||||
Hikma Pharmaceuticals PLC | 6,009 | 127,012 | |||||||||
Intra-Cellular Therapies, Inc.(2) | 724 | 39,183 | |||||||||
Laboratorios Farmaceuticos Rovi SA | 76 | 3,979 |
Shares/ Principal Amount | Value | ||||||||||
Merck & Co., Inc. | 2,059 | $ | 183,951 | ||||||||
Novartis AG | 1,822 | 156,564 | |||||||||
Novo Nordisk A/S, B Shares | 3,241 | 377,491 | |||||||||
Sanofi | 962 | 95,597 | |||||||||
Sanofi, ADR | 6,495 | 322,802 | |||||||||
Takeda Pharmaceutical Co. Ltd. | 6,300 | 184,843 | |||||||||
Ventyx Biosciences, Inc.(2)(3) | 1,029 | 15,548 | |||||||||
Zoetis, Inc. | 866 | 158,088 | |||||||||
2,798,620 | |||||||||||
Professional Services — 0.2% | |||||||||||
ALS Ltd. | 2,272 | 18,661 | |||||||||
Bureau Veritas SA | 6,496 | 179,164 | |||||||||
DKSH Holding AG | 293 | 24,084 | |||||||||
Jacobs Engineering Group, Inc. | 1,348 | 185,080 | |||||||||
Teleperformance | 296 | 98,983 | |||||||||
Verisk Analytics, Inc. | 702 | 133,556 | |||||||||
Visional, Inc.(2)(3) | 300 | 16,430 | |||||||||
655,958 | |||||||||||
Real Estate Management and Development — 0.1% | |||||||||||
Altus Group Ltd.(3) | 969 | 39,780 | |||||||||
Capitaland Investment Ltd. | 12,900 | 36,705 | |||||||||
City Developments Ltd. | 1,700 | 9,551 | |||||||||
CK Asset Holdings Ltd. | 3,000 | 21,239 | |||||||||
Colliers International Group, Inc. (Toronto) | 67 | 8,367 | |||||||||
DigitalBridge Group, Inc.(2) | 7,077 | 38,782 | |||||||||
Grainger PLC | 5,772 | 20,861 | |||||||||
PSP Swiss Property AG | 146 | 17,460 | |||||||||
Tokyu Fudosan Holdings Corp. | 6,200 | 33,598 | |||||||||
Tricon Residential, Inc. | 365 | 3,971 | |||||||||
Tricon Residential, Inc. (Toronto) | 3,826 | 41,590 | |||||||||
VGP NV | 36 | 6,323 | |||||||||
278,227 | |||||||||||
Road and Rail — 0.2% | |||||||||||
Canadian Pacific Railway Ltd. | 2,820 | 222,354 | |||||||||
Heartland Express, Inc. | 8,922 | 141,681 | |||||||||
Lyft, Inc., Class A(2) | 2,586 | 35,842 | |||||||||
Nagoya Railroad Co. Ltd. | 1,100 | 17,732 | |||||||||
Norfolk Southern Corp. | 999 | 250,919 | |||||||||
Saia, Inc.(2) | 111 | 26,401 | |||||||||
Uber Technologies, Inc.(2) | 1,101 | 25,819 | |||||||||
Union Pacific Corp. | 393 | 89,329 | |||||||||
810,077 | |||||||||||
Semiconductors and Semiconductor Equipment — 0.6% | |||||||||||
Advanced Micro Devices, Inc.(2) | 1,110 | 104,862 | |||||||||
Ambarella, Inc.(2) | 260 | 22,503 | |||||||||
Analog Devices, Inc. | 1,171 | 201,365 | |||||||||
Applied Materials, Inc. | 2,342 | 248,205 | |||||||||
ASML Holding NV | 195 | 112,078 | |||||||||
BE Semiconductor Industries NV | 110 | 5,905 | |||||||||
Enphase Energy, Inc.(2) | 619 | 175,907 | |||||||||
Infineon Technologies AG | 3,152 | 86,442 |
Shares/ Principal Amount | Value | ||||||||||
Lattice Semiconductor Corp.(2) | 1,191 | $ | 73,246 | ||||||||
MACOM Technology Solutions Holdings, Inc.(2) | 553 | 32,041 | |||||||||
Marvell Technology, Inc. | 1,939 | 107,964 | |||||||||
Monolithic Power Systems, Inc. | 389 | 180,776 | |||||||||
Nova Ltd.(2) | 158 | 16,645 | |||||||||
NVIDIA Corp. | 1,554 | 282,253 | |||||||||
Onto Innovation, Inc.(2) | 660 | 54,945 | |||||||||
Power Integrations, Inc. | 682 | 57,977 | |||||||||
Semtech Corp.(2) | 230 | 14,336 | |||||||||
Skyworks Solutions, Inc. | 519 | 56,509 | |||||||||
SUMCO Corp. | 10,000 | 139,927 | |||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 10,000 | 171,496 | |||||||||
2,145,382 | |||||||||||
Software — 1.2% | |||||||||||
Adobe, Inc.(2) | 232 | 95,148 | |||||||||
Atlassian Corp. PLC, Class A(2) | 500 | 104,660 | |||||||||
Box, Inc., Class A(2) | 2,024 | 57,562 | |||||||||
Cadence Design Systems, Inc.(2) | 2,885 | 536,841 | |||||||||
Dassault Systemes SE | 3,056 | 131,077 | |||||||||
Datadog, Inc., Class A(2) | 1,593 | 162,502 | |||||||||
Descartes Systems Group, Inc.(2) | 162 | 11,191 | |||||||||
DocuSign, Inc.(2) | 650 | 41,587 | |||||||||
Five9, Inc.(2) | 386 | 41,734 | |||||||||
HubSpot, Inc.(2) | 168 | 51,744 | |||||||||
JFrog Ltd.(2) | 1,125 | 24,975 | |||||||||
Kinaxis, Inc.(2) | 171 | 20,442 | |||||||||
m-up Holdings, Inc. | 900 | 10,466 | |||||||||
Manhattan Associates, Inc.(2) | 2,529 | 355,754 | |||||||||
Microsoft Corp. | 5,065 | 1,421,948 | |||||||||
nCino, Inc.(2)(3) | 1,395 | 45,044 | |||||||||
Open Text Corp. | 5,010 | 204,909 | |||||||||
Palo Alto Networks, Inc.(2) | 926 | 462,167 | |||||||||
Paycor HCM, Inc.(2)(3) | 2,036 | 54,341 | |||||||||
Paylocity Holding Corp.(2) | 390 | 80,313 | |||||||||
QT Group Oyj(2)(3) | 39 | 3,154 | |||||||||
Salesforce, Inc.(2) | 653 | 120,165 | |||||||||
ServiceNow, Inc.(2) | 100 | 44,666 | |||||||||
Sprout Social, Inc., Class A(2) | 777 | 40,482 | |||||||||
SPS Commerce, Inc.(2) | 466 | 55,808 | |||||||||
Tenable Holdings, Inc.(2) | 1,583 | 61,183 | |||||||||
Trade Desk, Inc., Class A(2) | 2,676 | 120,420 | |||||||||
Workday, Inc., Class A(2) | 199 | 30,865 | |||||||||
4,391,148 | |||||||||||
Specialty Retail — 0.3% | |||||||||||
Advance Auto Parts, Inc. | 2,001 | 387,434 | |||||||||
Burlington Stores, Inc.(2) | 639 | 90,182 | |||||||||
Five Below, Inc.(2) | 370 | 47,016 | |||||||||
Home Depot, Inc. | 965 | 290,407 | |||||||||
Leslie's, Inc.(2) | 3,349 | 50,771 | |||||||||
Nextage Co. Ltd. | 1,000 | 22,119 | |||||||||
Petco Health & Wellness Co., Inc.(2)(3) | 2,015 | 28,049 | |||||||||
Pets at Home Group PLC | 391 | 1,569 |
Shares/ Principal Amount | Value | ||||||||||
TJX Cos., Inc. | 2,271 | $ | 138,894 | ||||||||
Tractor Supply Co. | 277 | 53,040 | |||||||||
Watches of Switzerland Group PLC(2) | 1,426 | 15,458 | |||||||||
1,124,939 | |||||||||||
Technology Hardware, Storage and Peripherals — 0.3% | |||||||||||
Apple, Inc. | 5,260 | 854,803 | |||||||||
HP, Inc. | 5,492 | 183,378 | |||||||||
Pure Storage, Inc., Class A(2) | 692 | 19,618 | |||||||||
1,057,799 | |||||||||||
Textiles, Apparel and Luxury Goods — 0.3% | |||||||||||
Asics Corp.(3) | 900 | 17,148 | |||||||||
Crocs, Inc.(2) | 529 | 37,898 | |||||||||
Deckers Outdoor Corp.(2) | 175 | 54,812 | |||||||||
EssilorLuxottica SA | 817 | 128,091 | |||||||||
Li Ning Co. Ltd. | 17,500 | 141,954 | |||||||||
lululemon athletica, Inc.(2) | 629 | 195,311 | |||||||||
LVMH Moet Hennessy Louis Vuitton SE | 267 | 185,392 | |||||||||
NIKE, Inc., Class B | 981 | 112,736 | |||||||||
Puma SE | 1,485 | 100,273 | |||||||||
973,615 | |||||||||||
Thrifts and Mortgage Finance† | |||||||||||
Capitol Federal Financial, Inc. | 8,536 | 81,860 | |||||||||
Trading Companies and Distributors — 0.2% | |||||||||||
AddTech AB, B Shares | 761 | 13,027 | |||||||||
Ashtead Group PLC | 1,963 | 110,497 | |||||||||
Beacon Roofing Supply, Inc.(2) | 2,013 | 120,820 | |||||||||
Diploma PLC | 428 | 14,373 | |||||||||
Finning International, Inc. | 414 | 9,052 | |||||||||
H&E Equipment Services, Inc. | 1,396 | 49,907 | |||||||||
MonotaRO Co. Ltd. | 5,200 | 92,848 | |||||||||
MSC Industrial Direct Co., Inc., Class A | 4,380 | 362,051 | |||||||||
NOW, Inc.(2) | 3,131 | 34,629 | |||||||||
RS GROUP PLC | 1,171 | 14,784 | |||||||||
Yamazen Corp. | 2,600 | 19,658 | |||||||||
841,646 | |||||||||||
Transportation Infrastructure† | |||||||||||
Japan Airport Terminal Co. Ltd.(2) | 300 | 11,760 | |||||||||
SATS Ltd.(2) | 5,800 | 16,720 | |||||||||
28,480 | |||||||||||
Water Utilities† | |||||||||||
SJW Group | 799 | 52,462 | |||||||||
TOTAL COMMON STOCKS (Cost $56,935,720) | 68,957,493 | ||||||||||
U.S. TREASURY SECURITIES — 18.8% | |||||||||||
U.S. Treasury Bonds, 4.50%, 5/15/38 | $ | 1,000,000 | 1,221,875 | ||||||||
U.S. Treasury Bonds, 2.25%, 5/15/41 | 1,250,000 | 1,070,606 | |||||||||
U.S. Treasury Bonds, 2.375%, 2/15/42(5) | 7,000,000 | 6,098,750 | |||||||||
U.S. Treasury Bonds, 3.00%, 5/15/42 | 430,000 | 414,547 | |||||||||
U.S. Treasury Bonds, 2.50%, 2/15/45(5) | 1,700,000 | 1,474,783 | |||||||||
U.S. Treasury Bonds, 3.00%, 5/15/45 | 600,000 | 568,781 | |||||||||
U.S. Treasury Bonds, 3.00%, 11/15/45 | 850,000 | 807,882 | |||||||||
U.S. Treasury Bonds, 1.875%, 2/15/51 | 1,000,000 | 769,023 |
Shares/ Principal Amount | Value | ||||||||||
U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/25 | $ | 2,403,539 | $ | 2,554,749 | |||||||
U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/27 | 434,826 | 482,408 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/42 | 646,785 | 637,818 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.625%, 2/15/43 | 635,670 | 606,142 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 | 1,427,461 | 1,381,821 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 | 605,435 | 601,573 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.125%, 2/15/51 | 785,890 | 654,527 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 1/15/23 | 3,545,724 | 3,577,675 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 7/15/24 | 10,771,250 | 10,881,301 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 10/15/24 | 2,449,431 | 2,468,202 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 4/15/25 | 4,583,021 | 4,619,597 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.375%, 1/15/27 | 242,008 | 247,043 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 4/15/27 | 3,385,235 | 3,420,032 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.50%, 1/15/28 | 4,147,465 | 4,257,009 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.875%, 1/15/29 | 2,894,000 | 3,045,788 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 1/15/30 | 6,816,480 | 6,835,863 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 1/15/32 | 3,147,533 | 3,143,027 | |||||||||
U.S. Treasury Notes, 2.25%, 8/15/27(5) | 300,000 | 293,227 | |||||||||
U.S. Treasury Notes, 0.625%, 5/15/30 | 1,250,000 | 1,071,484 | |||||||||
U.S. Treasury Notes, 1.875%, 2/15/32 | 4,200,000 | 3,921,094 | |||||||||
TOTAL U.S. TREASURY SECURITIES (Cost $69,592,619) | 67,126,627 | ||||||||||
CORPORATE BONDS — 4.9% | |||||||||||
Aerospace and Defense† | |||||||||||
Boeing Co., 5.81%, 5/1/50 | 70,000 | 69,701 | |||||||||
Airlines — 0.1% | |||||||||||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(6) | 271,692 | 267,581 | |||||||||
United Airlines Holdings, Inc., 5.00%, 2/1/24 | 45,000 | 44,237 | |||||||||
311,818 | |||||||||||
Automobiles — 0.1% | |||||||||||
BMW Finance NV, 0.875%, 4/3/25 | EUR | 50,000 | 50,831 | ||||||||
General Motors Co., 5.15%, 4/1/38 | $ | 290,000 | 261,597 | ||||||||
312,428 | |||||||||||
Banks — 1.0% | |||||||||||
Akbank T.A.S., 5.00%, 10/24/22 | 50,000 | 49,777 | |||||||||
Avi Funding Co. Ltd., 3.80%, 9/16/25(6) | 102,000 | 102,321 | |||||||||
Banco Santander SA, 2.50%, 3/18/25 | EUR | 200,000 | 206,295 | ||||||||
Bank of America Corp., 2.30%, 7/25/25 | GBP | 100,000 | 118,905 | ||||||||
Bank of America Corp., VRN, 2.88%, 10/22/30 | $ | 182,000 | 165,265 | ||||||||
Barclays PLC, VRN, 2.00%, 2/7/28 | EUR | 200,000 | 201,894 | ||||||||
CaixaBank SA, VRN, 2.75%, 7/14/28 | EUR | 100,000 | 101,248 | ||||||||
CaixaBank SA, VRN, 2.25%, 4/17/30 | EUR | 100,000 | 97,064 | ||||||||
Citigroup, Inc., VRN, 3.07%, 2/24/28 | $ | 61,000 | 57,949 | ||||||||
Citigroup, Inc., VRN, 3.52%, 10/27/28 | 68,000 | 65,037 | |||||||||
Commerzbank AG, 4.00%, 3/23/26 | EUR | 220,000 | 229,326 | ||||||||
Credit Agricole SA, 7.375%, 12/18/23 | GBP | 100,000 | 127,362 | ||||||||
European Financial Stability Facility, 2.125%, 2/19/24 | EUR | 351,000 | 366,246 | ||||||||
European Financial Stability Facility, 0.40%, 5/31/26 | EUR | 400,000 | 399,367 | ||||||||
European Financial Stability Facility, 2.35%, 7/29/44 | EUR | 62,000 | 68,842 | ||||||||
European Union, 0.00%, 7/4/31(7) | EUR | 400,000 | 359,716 | ||||||||
HSBC Bank PLC, VRN, 5.375%, 11/4/30 | GBP | 90,000 | 113,305 |
Shares/ Principal Amount | Value | ||||||||||
ING Groep NV, 2.125%, 1/10/26 | EUR | 300,000 | $ | 308,873 | |||||||
Lloyds Bank PLC, 7.625%, 4/22/25 | GBP | 80,000 | 106,641 | ||||||||
Wells Fargo & Co., VRN, 3.07%, 4/30/41 | $ | 430,000 | 349,084 | ||||||||
3,594,517 | |||||||||||
Beverages — 0.1% | |||||||||||
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., 4.90%, 2/1/46 | 180,000 | 181,706 | |||||||||
Biotechnology — 0.1% | |||||||||||
AbbVie, Inc., 4.40%, 11/6/42 | 385,000 | 369,569 | |||||||||
Capital Markets† | |||||||||||
Criteria Caixa SA, 1.50%, 5/10/23 | EUR | 100,000 | 102,339 | ||||||||
Chemicals† | |||||||||||
Equate Petrochemical BV, 4.25%, 11/3/26(6) | $ | 34,000 | 33,626 | ||||||||
Commercial Services and Supplies — 0.1% | |||||||||||
Waste Connections, Inc., 2.95%, 1/15/52 | 112,000 | 85,503 | |||||||||
Waste Management, Inc., 2.50%, 11/15/50 | 160,000 | 112,895 | |||||||||
198,398 | |||||||||||
Containers and Packaging† | |||||||||||
Mauser Packaging Solutions Holding Co., 5.50%, 4/15/24(6) | 10,000 | 9,903 | |||||||||
Sealed Air Corp., 5.125%, 12/1/24(6) | 25,000 | 25,341 | |||||||||
35,244 | |||||||||||
Diversified Consumer Services† | |||||||||||
Duke University, 3.30%, 10/1/46 | 60,000 | 52,589 | |||||||||
Diversified Financial Services — 1.3% | |||||||||||
Fiore Capital LLC, VRDN, 2.42%, 8/5/22 (LOC: Wells Fargo Bank N.A.) | 1,500,000 | 1,500,000 | |||||||||
Gulf Gate Apartments LLC, VRN, 2.37%, (Acquired 9/29/03 - 11/10/03, Cost $3,000,000), 9/1/28(8) | 3,000,000 | 3,000,000 | |||||||||
4,500,000 | |||||||||||
Diversified Telecommunication Services — 0.2% | |||||||||||
AT&T, Inc., 2.60%, 12/17/29 | EUR | 100,000 | 104,894 | ||||||||
AT&T, Inc., 4.90%, 8/15/37 | $ | 85,000 | 87,262 | ||||||||
Deutsche Telekom International Finance BV, 1.25%, 10/6/23 | GBP | 50,000 | 59,783 | ||||||||
Deutsche Telekom International Finance BV, 0.875%, 1/30/24 | EUR | 40,000 | 40,978 | ||||||||
Level 3 Financing, Inc., 4.625%, 9/15/27(6) | $ | 171,000 | 156,721 | ||||||||
Turk Telekomunikasyon AS, 4.875%, 6/19/24(6) | 80,000 | 69,212 | |||||||||
Verizon Communications, Inc., 1.75%, 1/20/31 | 160,000 | 134,021 | |||||||||
652,871 | |||||||||||
Electric Utilities — 0.2% | |||||||||||
Duke Energy Carolinas LLC, 3.20%, 8/15/49 | 190,000 | 156,448 | |||||||||
Duke Energy Florida LLC, 3.85%, 11/15/42 | 80,000 | 72,373 | |||||||||
Duke Energy Progress LLC, 4.15%, 12/1/44 | 9,000 | 8,487 | |||||||||
Exelon Corp., 4.45%, 4/15/46 | 90,000 | 84,678 | |||||||||
Israel Electric Corp. Ltd., 6.875%, 6/21/23(6) | 41,000 | 42,009 | |||||||||
MidAmerican Energy Co., 4.40%, 10/15/44 | 40,000 | 39,315 | |||||||||
Northern States Power Co., 3.20%, 4/1/52 | 120,000 | 99,625 | |||||||||
Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, 3.00%, 6/30/30 | 375,000 | 319,241 | |||||||||
822,176 | |||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.1% | |||||||||||
EPR Properties, 4.95%, 4/15/28 | 371,000 | 346,616 |
Shares/ Principal Amount | Value | ||||||||||
VICI Properties LP / VICI Note Co., Inc., 5.625%, 5/1/24(6) | $ | 20,000 | $ | 20,034 | |||||||
366,650 | |||||||||||
Food and Staples Retailing† | |||||||||||
Tesco PLC, 5.00%, 3/24/23 | GBP | 50,000 | 61,429 | ||||||||
Health Care Providers and Services — 0.3% | |||||||||||
CVS Health Corp., 4.78%, 3/25/38 | $ | 310,000 | 310,784 | ||||||||
DaVita, Inc., 4.625%, 6/1/30(6) | 370,000 | 304,107 | |||||||||
Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 130,000 | 100,021 | |||||||||
Universal Health Services, Inc., 2.65%, 10/15/30(6) | 420,000 | 343,726 | |||||||||
1,058,638 | |||||||||||
Hotels, Restaurants and Leisure† | |||||||||||
MGM Resorts International, 6.00%, 3/15/23 | 30,000 | 30,296 | |||||||||
MGM Resorts International, 4.625%, 9/1/26 | 8,000 | 7,452 | |||||||||
Penn National Gaming, Inc., 5.625%, 1/15/27(6) | 35,000 | 32,566 | |||||||||
Penn National Gaming, Inc., 4.125%, 7/1/29(6) | 54,000 | 45,007 | |||||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.25%, 5/15/27(6) | 50,000 | 46,497 | |||||||||
161,818 | |||||||||||
Household Durables† | |||||||||||
Meritage Homes Corp., 5.125%, 6/6/27 | 40,000 | 39,219 | |||||||||
Insurance — 0.1% | |||||||||||
AXA SA, VRN, 3.375%, 7/6/47 | EUR | 200,000 | 206,376 | ||||||||
Interactive Media and Services† | |||||||||||
Tencent Holdings Ltd., 3.80%, 2/11/25(6) | $ | 61,000 | 60,766 | ||||||||
Internet and Direct Marketing Retail† | |||||||||||
Alibaba Group Holding Ltd., 2.80%, 6/6/23 | 140,000 | 138,966 | |||||||||
IT Services† | |||||||||||
International Business Machines Corp., 1.75%, 3/7/28 | EUR | 100,000 | 102,396 | ||||||||
Media — 0.1% | |||||||||||
DISH DBS Corp., 7.75%, 7/1/26 | $ | 200,000 | 166,557 | ||||||||
Paramount Global, 4.375%, 3/15/43 | 65,000 | 51,901 | |||||||||
WPP Finance 2013, 3.00%, 11/20/23 | EUR | 100,000 | 104,232 | ||||||||
322,690 | |||||||||||
Metals and Mining — 0.3% | |||||||||||
Alcoa Nederland Holding BV, 4.125%, 3/31/29(6) | $ | 200,000 | 188,413 | ||||||||
Cleveland-Cliffs, Inc., 4.625%, 3/1/29(6) | 330,000 | 308,486 | |||||||||
Minera Mexico SA de CV, 4.50%, 1/26/50(6) | 375,000 | 297,051 | |||||||||
Teck Resources Ltd., 6.25%, 7/15/41 | 90,000 | 92,102 | |||||||||
886,052 | |||||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | |||||||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.75%, 6/15/29(6) | 257,000 | 219,740 | |||||||||
Multi-Utilities† | |||||||||||
Dominion Energy, Inc., 4.90%, 8/1/41 | 70,000 | 70,077 | |||||||||
Oil, Gas and Consumable Fuels — 0.4% | |||||||||||
Antero Resources Corp., 7.625%, 2/1/29(6) | 128,000 | 135,062 | |||||||||
BP Capital Markets America, Inc., 3.06%, 6/17/41 | 130,000 | 107,607 | |||||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25 | 25,000 | 24,652 | |||||||||
Enbridge, Inc., 3.40%, 8/1/51 | 150,000 | 119,439 | |||||||||
Enterprise Products Operating LLC, 4.85%, 3/15/44 | 220,000 | 211,424 | |||||||||
Enterprise Products Operating LLC, 3.30%, 2/15/53 | 107,000 | 83,653 |
Shares/ Principal Amount | Value | ||||||||||
Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40(6) | $ | 368,479 | $ | 310,569 | |||||||
Kinder Morgan Energy Partners LP, 6.50%, 9/1/39 | 130,000 | 138,810 | |||||||||
MEG Energy Corp., 5.875%, 2/1/29(6) | 160,000 | 152,253 | |||||||||
Petroleos Mexicanos, 6.50%, 3/13/27 | 41,000 | 37,126 | |||||||||
Southwestern Energy Co., 5.95%, 1/23/25 | 5,000 | 5,067 | |||||||||
1,325,662 | |||||||||||
Pharmaceuticals† | |||||||||||
Viatris, Inc., 4.00%, 6/22/50 | 164,000 | 113,880 | |||||||||
Road and Rail† | |||||||||||
Burlington Northern Santa Fe LLC, 4.45%, 3/15/43 | 16,000 | 16,193 | |||||||||
Burlington Northern Santa Fe LLC, 4.15%, 4/1/45 | 100,000 | 96,639 | |||||||||
112,832 | |||||||||||
Software — 0.1% | |||||||||||
Oracle Corp., 3.60%, 4/1/40 | 220,000 | 170,973 | |||||||||
Transportation Infrastructure — 0.1% | |||||||||||
Adani Ports & Special Economic Zone Ltd., 4.00%, 7/30/27 | 375,000 | 347,374 | |||||||||
DP World Crescent Ltd., 4.85%, 9/26/28 | 175,000 | 177,427 | |||||||||
524,801 | |||||||||||
Wireless Telecommunication Services — 0.1% | |||||||||||
C&W Senior Financing DAC, 6.875%, 9/15/27(6) | 97,000 | 86,757 | |||||||||
Millicom International Cellular SA, 5.125%, 1/15/28(6) | 91,800 | 84,526 | |||||||||
Sprint Corp., 7.125%, 6/15/24 | 70,000 | 73,442 | |||||||||
244,725 | |||||||||||
TOTAL CORPORATE BONDS (Cost $19,424,677) | 17,424,672 | ||||||||||
SOVEREIGN GOVERNMENTS AND AGENCIES — 4.6% | |||||||||||
Australia — 0.1% | |||||||||||
Australia Government Bond, 3.00%, 3/21/47 | AUD | 505,000 | 327,247 | ||||||||
New South Wales Treasury Corp., 3.00%, 3/20/28 | AUD | 285,000 | 196,451 | ||||||||
523,698 | |||||||||||
Austria — 0.1% | |||||||||||
Republic of Austria Government Bond, 0.75%, 10/20/26(6) | EUR | 140,000 | 143,873 | ||||||||
Republic of Austria Government Bond, 4.15%, 3/15/37(6) | EUR | 101,000 | 136,638 | ||||||||
280,511 | |||||||||||
Belgium† | |||||||||||
Kingdom of Belgium Government Bond, 4.25%, 3/28/41(6) | EUR | 47,000 | 64,882 | ||||||||
Canada — 1.4% | |||||||||||
Canadian Government Bond, 0.25%, 4/1/24 | CAD | 4,000,000 | 2,988,685 | ||||||||
Canadian Government Bond, 0.25%, 3/1/26 | CAD | 1,150,000 | 823,019 | ||||||||
Province of British Columbia Canada, 2.85%, 6/18/25 | CAD | 684,000 | 530,450 | ||||||||
Province of Quebec Canada, 3.00%, 9/1/23 | CAD | 460,000 | 358,359 | ||||||||
Province of Quebec Canada, 5.75%, 12/1/36 | CAD | 325,000 | 312,721 | ||||||||
Province of Quebec Canada, 5.00%, 12/1/41 | CAD | 33,000 | 30,091 | ||||||||
Province of Quebec Canada, 3.50%, 12/1/48 | CAD | 102,000 | 76,297 | ||||||||
5,119,622 | |||||||||||
China — 0.4% | |||||||||||
China Government Bond, 3.39%, 3/16/50 | CNY | 10,340,000 | 1,553,769 | ||||||||
Czech Republic† | |||||||||||
Czech Republic Government Bond, 4.70%, 9/12/22 | CZK | 2,100,000 | 87,069 | ||||||||
Denmark† | |||||||||||
Denmark Government Bond, 0.50%, 11/15/27 | DKK | 517,000 | 69,782 |
Shares/ Principal Amount | Value | ||||||||||
Denmark Government Bond, 4.50%, 11/15/39 | DKK | 260,000 | $ | 52,404 | |||||||
122,186 | |||||||||||
Finland — 0.5% | |||||||||||
Finland Government Bond, 4.00%, 7/4/25(6) | EUR | 173,000 | 195,017 | ||||||||
Finland Government Bond, 0.125%, 4/15/36(6) | EUR | 1,750,000 | 1,473,621 | ||||||||
1,668,638 | |||||||||||
France — 0.6% | |||||||||||
French Republic Government Bond OAT, 2.50%, 5/25/30 | EUR | 1,170,000 | 1,327,884 | ||||||||
French Republic Government Bond OAT, 0.00%, 11/25/31(7) | EUR | 850,000 | 775,705 | ||||||||
2,103,589 | |||||||||||
Germany† | |||||||||||
Bundesrepublik Deutschland Bundesanleihe, 0.00%, 8/15/52(7) | EUR | 60,000 | 44,559 | ||||||||
Ireland — 0.1% | |||||||||||
Ireland Government Bond, 3.40%, 3/18/24 | EUR | 196,000 | 210,328 | ||||||||
Italy — 0.4% | |||||||||||
Italy Buoni Poliennali Del Tesoro, 1.50%, 6/1/25 | EUR | 263,000 | 267,211 | ||||||||
Italy Buoni Poliennali Del Tesoro, 2.00%, 12/1/25 | EUR | 971,000 | 997,252 | ||||||||
1,264,463 | |||||||||||
Japan† | |||||||||||
Japan Government Thirty Year Bond, 1.40%, 12/20/45 | JPY | 11,400,000 | 92,917 | ||||||||
Malaysia — 0.1% | |||||||||||
Malaysia Government Bond, 3.96%, 9/15/25 | MYR | 785,000 | 178,382 | ||||||||
Mexico — 0.1% | |||||||||||
Mexico Government International Bond, 4.15%, 3/28/27 | $ | 400,000 | 402,406 | ||||||||
Netherlands — 0.1% | |||||||||||
Netherlands Government Bond, 0.50%, 7/15/26(6) | EUR | 401,000 | 408,608 | ||||||||
Netherlands Government Bond, 2.75%, 1/15/47(6) | EUR | 63,000 | 83,230 | ||||||||
491,838 | |||||||||||
Norway — 0.1% | |||||||||||
Norway Government Bond, 2.00%, 5/24/23(6) | NOK | 360,000 | 37,117 | ||||||||
Norway Government Bond, 1.75%, 2/17/27(6) | NOK | 1,510,000 | 150,067 | ||||||||
187,184 | |||||||||||
Poland† | |||||||||||
Republic of Poland Government Bond, 4.00%, 10/25/23 | PLN | 650,000 | 136,016 | ||||||||
Singapore — 0.1% | |||||||||||
Singapore Government Bond, 3.125%, 9/1/22 | SGD | 288,000 | 208,594 | ||||||||
Spain — 0.1% | |||||||||||
Spain Government Bond, 4.40%, 10/31/23(6) | EUR | 5,000 | 5,351 | ||||||||
Spain Government Bond, 1.60%, 4/30/25(6) | EUR | 164,000 | 171,830 | ||||||||
Spain Government Bond, 5.15%, 10/31/28(6) | EUR | 16,000 | 20,142 | ||||||||
Spain Government Bond, 5.15%, 10/31/44(6) | EUR | 30,000 | 45,658 | ||||||||
242,981 | |||||||||||
Switzerland — 0.1% | |||||||||||
Swiss Confederation Government Bond, 1.25%, 5/28/26 | CHF | 253,000 | 278,638 | ||||||||
Swiss Confederation Government Bond, 2.50%, 3/8/36 | CHF | 89,000 | 116,666 | ||||||||
395,304 | |||||||||||
Thailand — 0.1% | |||||||||||
Thailand Government Bond, 3.625%, 6/16/23 | THB | 3,450,000 | 95,670 | ||||||||
Thailand Government Bond, 3.85%, 12/12/25 | THB | 9,350,000 | 268,686 | ||||||||
364,356 |
Shares/ Principal Amount | Value | ||||||||||
United Kingdom — 0.2% | |||||||||||
United Kingdom Gilt, 0.125%, 1/30/26 | GBP | 600,000 | $ | 694,199 | |||||||
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $18,169,469) | 16,437,491 | ||||||||||
COLLATERALIZED LOAN OBLIGATIONS — 2.1% | |||||||||||
Ares XL CLO Ltd., Series 2016-40A, Class CRR, VRN, 5.31%, (3-month LIBOR plus 2.80%), 1/15/29(6) | $ | 375,000 | 346,541 | ||||||||
ARES XLVII CLO Ltd., Series 2018-47A, Class C, VRN, 4.26%, (3-month LIBOR plus 1.75%), 4/15/30(6) | 150,000 | 141,929 | |||||||||
Ares XXXIV CLO Ltd., Series 2015-2A, Class BR2, VRN, 4.34%, (3-month LIBOR plus 1.60%), 4/17/33(6) | 550,000 | 524,407 | |||||||||
Ares XXXIX CLO Ltd., Series 2016-39A, Class CR2, VRN, 4.79%, (3-month LIBOR plus 2.05%), 4/18/31(6) | 425,000 | 402,239 | |||||||||
Carlyle Global Market Strategies CLO Ltd., Series 2012-4A, Class CR3, VRN, 5.36%, (3-month LIBOR plus 2.60%), 4/22/32(6) | 750,000 | 717,179 | |||||||||
CIFC Funding Ltd., Series 2017-5A, Class B, VRN, 4.59%, (3-month LIBOR plus 1.85%), 11/16/30(6) | 400,000 | 378,200 | |||||||||
Cook Park CLO Ltd., Series 2018-1A, Class C, VRN, 4.49%, (3-month LIBOR plus 1.75%), 4/17/30(6) | 750,000 | 708,016 | |||||||||
Dewolf Park CLO Ltd., Series 2017-1A, Class CR, VRN, 4.36%, (3-month LIBOR plus 1.85%), 10/15/30(6) | 250,000 | 239,022 | |||||||||
Eaton Vance CLO Ltd., Series 2015-1A, Class CR, VRN, 4.61%, (3-month LIBOR plus 1.90%), 1/20/30(6) | 250,000 | 237,380 | |||||||||
Goldentree Loan Opportunities X Ltd., Series 2015-10A, Class AR, VRN, 3.83%, (3-month LIBOR plus 1.12%), 7/20/31(6) | 250,000 | 245,276 | |||||||||
KKR CLO Ltd., Series 2018, Class CR, VRN, 4.84%, (3-month LIBOR plus 2.10%), 7/18/30(6) | 250,000 | 241,923 | |||||||||
KKR CLO Ltd., Series 2022A, Class B, VRN, 4.31%, (3-month LIBOR plus 1.60%), 7/20/31(6) | 450,000 | 432,249 | |||||||||
Magnetite VIII Ltd., Series 2014-8A, Class BR2, VRN, 4.01%, (3-month LIBOR plus 1.50%), 4/15/31(6) | 400,000 | 384,782 | |||||||||
Magnetite XXV Ltd., Series 2020-25A, Class C, VRN, 4.88%, (3-month LIBOR plus 2.10%), 1/25/32(6) | 350,000 | 336,098 | |||||||||
Marathon CLO Ltd., Series 2021-17A, Class B1, VRN, 5.39%, (3-month LIBOR plus 2.68%), 1/20/35(6) | 325,000 | 308,954 | |||||||||
MF1 Ltd., Series 2021-FL7, Class AS, VRN, 3.61%, (1-month LIBOR plus 1.45%), 10/16/36(6) | 518,000 | 492,232 | |||||||||
Palmer Square Loan Funding Ltd., Series 2022-1A, Class B, VRN, 4.33%, (3-month SOFR plus 2.00%), 4/15/30(6) | 225,000 | 215,037 | |||||||||
Rockford Tower CLO Ltd., Series 2020-1A, Class C, VRN, 5.06%, (3-month LIBOR plus 2.35%), 1/20/32(6) | 325,000 | 313,504 | |||||||||
Sound Point CLO IX Ltd., Series 2015-2A, Class CRRR, VRN, 5.21%, (3-month LIBOR plus 2.50%), 7/20/32(6) | 550,000 | 521,038 | |||||||||
Symphony CLO XXII Ltd., Series 2020-22A, Class B, VRN, 4.44%, (3-month LIBOR plus 1.70%), 4/18/33(6) | 500,000 | 478,588 | |||||||||
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $8,028,139) | 7,664,594 | ||||||||||
ASSET-BACKED SECURITIES — 0.7% | |||||||||||
Blackbird Capital Aircraft, Series 2021-1A, Class A SEQ, 2.44%, 7/15/46(6) | 291,169 | 252,541 | |||||||||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A SEQ, 2.94%, 5/25/29(6) | 60,179 | 58,784 | |||||||||
FirstKey Homes Trust, Series 2020-SFR1, Class C, 1.94%, 8/17/37(6) | 400,000 | 375,123 | |||||||||
FirstKey Homes Trust, Series 2020-SFR2, Class E, 2.67%, 10/19/37(6) | 700,000 | 646,220 |
Shares/ Principal Amount | Value | ||||||||||
Lunar Aircarft Ltd., Series 2020-1A, Class A SEQ, 3.38%, 2/15/45(6) | $ | 482,708 | $ | 415,954 | |||||||
MAPS Trust, Series 2021-1A, Class A SEQ, 2.52%, 6/15/46(6) | 893,783 | 786,451 | |||||||||
VSE VOI Mortgage LLC, Series 2018-A, Class B, 3.72%, 2/20/36(6) | 145,310 | 142,237 | |||||||||
TOTAL ASSET-BACKED SECURITIES (Cost $2,985,859) | 2,677,310 | ||||||||||
PREFERRED STOCKS — 0.5% | |||||||||||
Automobiles — 0.1% | |||||||||||
Volkswagen International Finance NV, 3.875% | 300,000 | 272,855 | |||||||||
Diversified Telecommunication Services† | |||||||||||
Telefonica Europe BV, 5.875% | 100,000 | 103,599 | |||||||||
Electric Utilities† | |||||||||||
Electricite de France SA, 3.375% | 200,000 | 163,920 | |||||||||
Insurance — 0.2% | |||||||||||
Allianz SE, 2.625% | 200,000 | 161,995 | |||||||||
Allianz SE, 3.20%(6) | 200,000 | 152,935 | |||||||||
Allianz SE, 3.375% | 200,000 | 207,019 | |||||||||
Credit Agricole Assurances SA, 4.25% | 100,000 | 104,573 | |||||||||
Intesa Sanpaolo Vita SpA, 4.75% | 200,000 | 205,922 | |||||||||
832,444 | |||||||||||
Oil, Gas and Consumable Fuels — 0.1% | |||||||||||
Eni SpA, 3.375% | 300,000 | 257,923 | |||||||||
Trading Companies and Distributors — 0.1% | |||||||||||
Aircastle Ltd., 5.25%(6) | 365,000 | 292,816 | |||||||||
TOTAL PREFERRED STOCKS (Cost $2,613,544) | 1,923,557 | ||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS — 0.5% | |||||||||||
Private Sponsor Collateralized Mortgage Obligations — 0.4% | |||||||||||
Citigroup Mortgage Loan Trust, Inc., Series 2004-UST1, Class A5, VRN, 2.48%, 8/25/34 | $ | 65,141 | 64,067 | ||||||||
COLT Mortgage Loan Trust, Series 2021-3, Class M1, VRN, 2.30%, 9/27/66(6) | 700,000 | 493,176 | |||||||||
JP Morgan Mortgage Trust, Series 2014-5, Class A1, VRN, 2.83%, 10/25/29(6) | 56,713 | 54,726 | |||||||||
Radnor RE Ltd., Series 2021-1, Class M1B, VRN, 3.21%, (30-day average SOFR plus 1.70%), 12/27/33(6) | 600,000 | 585,900 | |||||||||
Sofi Mortgage Trust, Series 2016-1A, Class 1A4 SEQ, VRN, 3.00%, 11/25/46(6) | 12,429 | 11,939 | |||||||||
Triangle Re Ltd., Series 2021-2, Class M1A, VRN, 4.31%, (1-month LIBOR plus 2.05%), 10/25/33(6) | 109,183 | 108,856 | |||||||||
1,318,664 | |||||||||||
U.S. Government Agency Collateralized Mortgage Obligations — 0.1% | |||||||||||
FHLMC, Series 5123, Class HI, IO, 5.00%, 1/25/42 | 402,740 | 73,380 | |||||||||
FNMA, Series 2014-C02, Class 2M2, VRN, 4.86%, (1-month LIBOR plus 2.60%), 5/25/24 | 141,658 | 142,174 | |||||||||
FNMA, Series 2015-C04, Class 1M2, VRN, 7.96%, (1-month LIBOR plus 5.70%), 4/25/28 | 139,271 | 145,874 | |||||||||
361,428 | |||||||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,864,126) | 1,680,092 | ||||||||||
MUNICIPAL SECURITIES — 0.4% | |||||||||||
Bay Area Toll Authority Rev., 6.92%, 4/1/40 | 105,000 | 132,880 | |||||||||
Metropolitan Transportation Authority Rev., 6.81%, 11/15/40 | 30,000 | 35,969 |
Shares/ Principal Amount | Value | ||||||||||
New Jersey Turnpike Authority Rev., 7.41%, 1/1/40 | $ | 100,000 | $ | 135,589 | |||||||
New Jersey Turnpike Authority Rev., 7.10%, 1/1/41 | 9,000 | 11,861 | |||||||||
New York City GO, 6.27%, 12/1/37 | 40,000 | 48,044 | |||||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 4.88%, 12/1/34 | 110,000 | 117,069 | |||||||||
Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51 | 50,000 | 55,002 | |||||||||
Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60 | 125,000 | 95,760 | |||||||||
Rutgers The State University of New Jersey Rev., 5.67%, 5/1/40 | 150,000 | 172,016 | |||||||||
Sacramento Municipal Utility District Rev., 6.16%, 5/15/36 | 180,000 | 213,774 | |||||||||
San Francisco Public Utilities Commission Water Rev., 6.00%, 11/1/40 | 75,000 | 86,227 | |||||||||
Santa Clara Valley Transportation Authority Rev., 5.88%, 4/1/32 | 105,000 | 116,537 | |||||||||
State of California GO, 4.60%, 4/1/38 | 40,000 | 40,984 | |||||||||
State of California GO, 7.55%, 4/1/39 | 30,000 | 41,398 | |||||||||
State of California GO, 7.30%, 10/1/39 | 30,000 | 39,305 | |||||||||
State of California GO, 7.60%, 11/1/40 | 65,000 | 90,498 | |||||||||
State of Washington GO, 5.14%, 8/1/40 | 5,000 | 5,690 | |||||||||
TOTAL MUNICIPAL SECURITIES (Cost $1,289,469) | 1,438,603 | ||||||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.2% | |||||||||||
Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities† | |||||||||||
FHLMC, VRN, 2.72%, (12-month LIBOR plus 1.87%), 7/1/36 | 3,980 | 4,089 | |||||||||
FHLMC, VRN, 2.20%, (1-year H15T1Y plus 2.14%), 10/1/36 | 12,410 | 12,850 | |||||||||
FHLMC, VRN, 2.58%, (1-year H15T1Y plus 2.26%), 4/1/37 | 37,192 | 38,344 | |||||||||
FHLMC, VRN, 2.99%, (12-month LIBOR plus 1.88%), 7/1/41 | 21,711 | 22,430 | |||||||||
FNMA, VRN, 3.18%, (6-month LIBOR plus 1.57%), 6/1/35 | 18,900 | 19,401 | |||||||||
FNMA, VRN, 3.29%, (6-month LIBOR plus 1.57%), 6/1/35 | 14,805 | 15,199 | |||||||||
FNMA, VRN, 2.38%, (6-month LIBOR plus 1.54%), 9/1/35 | 3,018 | 3,092 | |||||||||
FNMA, VRN, 2.60%, (1-year H15T1Y plus 2.16%), 3/1/38 | 30,431 | 31,485 | |||||||||
146,890 | |||||||||||
Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 0.2% | |||||||||||
FHLMC, 6.00%, 2/1/38 | 56,909 | 62,020 | |||||||||
FNMA, 3.50%, 3/1/34 | 46,260 | 46,913 | |||||||||
GNMA, 7.00%, 1/15/24 | 103 | 104 | |||||||||
GNMA, 8.00%, 7/15/24 | 1,354 | 1,365 | |||||||||
GNMA, 8.00%, 9/15/24 | 459 | 460 | |||||||||
GNMA, 9.00%, 4/20/25 | 161 | 162 | |||||||||
GNMA, 7.50%, 10/15/25 | 1,743 | 1,756 | |||||||||
GNMA, 7.50%, 2/15/26 | 3,714 | 3,843 | |||||||||
GNMA, 8.25%, 7/15/26 | 10,646 | 10,733 | |||||||||
GNMA, 7.00%, 12/15/27 | 8,617 | 8,634 | |||||||||
GNMA, 6.50%, 2/15/28 | 1,308 | 1,379 | |||||||||
GNMA, 6.50%, 3/15/28 | 5,560 | 5,862 |
Shares/ Principal Amount | Value | ||||||||||
GNMA, 6.50%, 4/15/28 | $ | 282 | $ | 298 | |||||||
GNMA, 6.00%, 10/15/28 | 6,703 | 7,066 | |||||||||
GNMA, 7.00%, 5/15/31 | 2,734 | 2,966 | |||||||||
GNMA, 5.50%, 11/15/32 | 14,307 | 15,531 | |||||||||
GNMA, 6.50%, 10/15/38 | 211,886 | 237,888 | |||||||||
GNMA, 4.50%, 6/15/41 | 80,034 | 84,296 | |||||||||
GNMA, 3.50%, 6/20/42 | 113,032 | 114,688 | |||||||||
605,964 | |||||||||||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Cost $733,951) | 752,854 | ||||||||||
EXCHANGE-TRADED FUNDS — 0.1% | |||||||||||
iShares Core S&P 500 ETF | 434 | 179,797 | |||||||||
iShares MSCI EAFE Value ETF | 4,599 | 203,874 | |||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $386,071) | 383,671 | ||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES — 0.1% | |||||||||||
Ready Capital Mortgage Financing LLC, Series 2021-FL6, Class B, VRN, 3.86%, (1-month LIBOR plus 1.60%), 7/25/36(6) (Cost $300,000) | $ | 300,000 | 283,671 | ||||||||
SHORT-TERM INVESTMENTS — 10.8% | |||||||||||
Certificates of Deposit — 1.2% | |||||||||||
Credit Agricole Corporate and Investment Bank, 2.31%, 8/1/22 (LOC: Credit Agricole SA)(6) | 1,365,000 | 1,365,000 | |||||||||
Nordea Bank Abp, VRN, 2.62%, (SOFR plus 0.34%), 10/17/22(6) | 2,540,000 | 2,540,150 | |||||||||
Svenska Handelsbanken AB, VRN, 2.06%, (SOFR plus 0.53%), 5/19/23(6) | 500,000 | 499,387 | |||||||||
4,404,537 | |||||||||||
Commercial Paper(9) — 3.2% | |||||||||||
Alinghi Funding Co. LLC, 1.58%, 9/20/22 (LOC: UBS AG)(6) | 1,000,000 | 997,847 | |||||||||
Bank of Nova Scotia, 0.21%, 9/20/22(6) | 950,000 | 946,606 | |||||||||
BNP Paribas SA, VRN, 2.69%, (SOFR plus 0.41%), 12/13/22 | 700,000 | 700,000 | |||||||||
Canadian Imperial Bank of Commerce, 0.22%, 11/4/22(6) | 2,160,000 | 2,144,072 | |||||||||
Ridgefield Funding Co. LLC, Series A1, VRN, 2.47%, (SOFR plus 0.19%), 8/9/22 (LOC: BNP Paribas)(6) | 450,000 | 450,000 | |||||||||
Skandinaviska Enskilda Banken AB, Series GLOB, VRN, 1.97%, (SOFR plus 0.44%), 12/27/22(6) | 1,500,000 | 1,500,000 | |||||||||
Skandinaviska Enskilda Banken AB, Series GLOB, VRN, 1.93%, (SOFR plus 0.40%), 11/17/22(6) | 1,000,000 | 999,837 | |||||||||
Svenska Handelsbanken AB, 0.35%, 11/1/22(6) | 1,640,000 | 1,628,609 | |||||||||
Toyota Credit Canada, Inc., 1.24%, 8/16/22(6) | 1,000,000 | 998,816 | |||||||||
Washington Morgan Capital Co. LLC, 2.65%, 10/27/22 (LOC: Goldman Sachs & Co.)(6) | 1,000,000 | 992,688 | |||||||||
11,358,475 | |||||||||||
Money Market Funds — 4.2% | |||||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 14,422,398 | 14,422,398 | |||||||||
State Street Navigator Securities Lending Government Money Market Portfolio(10) | 659,322 | 659,322 | |||||||||
15,081,720 | |||||||||||
Treasury Bills(9) — 2.2% | |||||||||||
U.S. Treasury Bills, 0.89%, 9/22/22 | $ | 1,100,000 | 1,096,739 |
Shares/ Principal Amount | Value | ||||||||||
U.S. Treasury Bills, 1.93%, 4/20/23(5) | $ | 7,100,000 | $ | 6,955,576 | |||||||
8,052,315 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $38,977,774) | 38,897,047 | ||||||||||
TOTAL INVESTMENT SECURITIES — 99.8% (Cost $338,361,135) | 357,294,920 | ||||||||||
OTHER ASSETS AND LIABILITIES — 0.2% | 545,776 | ||||||||||
TOTAL NET ASSETS — 100.0% | $ | 357,840,696 |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 99,149 | AUD | 137,532 | Credit Suisse AG | 9/14/22 | $ | 2,991 | |||||||||||||
CAD | 7,155 | USD | 5,537 | Goldman Sachs & Co. | 9/29/22 | 49 | ||||||||||||||
CAD | 9,923 | USD | 7,710 | Goldman Sachs & Co. | 9/29/22 | 37 | ||||||||||||||
CAD | 6,416 | USD | 4,945 | Goldman Sachs & Co. | 9/29/22 | 64 | ||||||||||||||
CAD | 6,229 | USD | 4,801 | Goldman Sachs & Co. | 9/29/22 | 63 | ||||||||||||||
CAD | 1,954 | USD | 1,491 | Goldman Sachs & Co. | 9/29/22 | 35 | ||||||||||||||
CAD | 8,132 | USD | 6,237 | Goldman Sachs & Co. | 9/29/22 | 112 | ||||||||||||||
USD | 4,226,960 | CAD | 5,318,742 | UBS AG | 9/14/22 | 73,960 | ||||||||||||||
USD | 176,103 | CAD | 229,094 | Goldman Sachs & Co. | 9/29/22 | (2,762) | ||||||||||||||
USD | 8,036 | CAD | 10,443 | Goldman Sachs & Co. | 9/29/22 | (118) | ||||||||||||||
USD | 22,137 | CAD | 28,701 | Goldman Sachs & Co. | 9/29/22 | (272) | ||||||||||||||
USD | 11,224 | CAD | 14,463 | Goldman Sachs & Co. | 9/29/22 | (68) | ||||||||||||||
USD | 6,041 | CAD | 7,785 | Goldman Sachs & Co. | 9/29/22 | (37) | ||||||||||||||
USD | 6,686 | CAD | 8,613 | Goldman Sachs & Co. | 9/29/22 | (39) | ||||||||||||||
USD | 8,291 | CAD | 10,680 | Goldman Sachs & Co. | 9/29/22 | (47) | ||||||||||||||
USD | 19,857 | CAD | 25,578 | Goldman Sachs & Co. | 9/29/22 | (113) | ||||||||||||||
USD | 3,323 | CAD | 4,276 | Goldman Sachs & Co. | 9/29/22 | (16) | ||||||||||||||
USD | 1,068 | CAD | 1,393 | Goldman Sachs & Co. | 9/29/22 | (20) | ||||||||||||||
USD | 9,636 | CAD | 12,478 | Goldman Sachs & Co. | 9/29/22 | (106) | ||||||||||||||
USD | 5,094 | CAD | 6,566 | Goldman Sachs & Co. | 9/29/22 | (33) | ||||||||||||||
USD | 7,053 | CAD | 9,092 | Goldman Sachs & Co. | 9/29/22 | (45) | ||||||||||||||
USD | 4,269 | CAD | 5,505 | Goldman Sachs & Co. | 9/29/22 | (29) | ||||||||||||||
USD | 7,987 | CAD | 10,226 | Goldman Sachs & Co. | 9/29/22 | 3 | ||||||||||||||
USD | 1,425 | CAD | 1,825 | Goldman Sachs & Co. | 9/29/22 | 1 | ||||||||||||||
USD | 7,903 | CAD | 10,177 | Morgan Stanley | 9/29/22 | (43) | ||||||||||||||
USD | 8,527 | CAD | 10,981 | Morgan Stanley | 9/29/22 | (46) | ||||||||||||||
USD | 226,511 | CHF | 218,588 | Morgan Stanley | 9/14/22 | (3,860) | ||||||||||||||
CNY | 8,682,504 | USD | 1,301,140 | Morgan Stanley | 9/14/22 | (14,064) | ||||||||||||||
USD | 71,954 | DKK | 497,838 | UBS AG | 9/14/22 | 3,394 | ||||||||||||||
EUR | 21,359 | USD | 22,465 | JPMorgan Chase Bank N.A. | 9/30/22 | (545) | ||||||||||||||
EUR | 2,818 | USD | 2,951 | JPMorgan Chase Bank N.A. | 9/30/22 | (59) | ||||||||||||||
EUR | 4,077 | USD | 4,199 | JPMorgan Chase Bank N.A. | 9/30/22 | (15) | ||||||||||||||
EUR | 3,688 | USD | 3,779 | JPMorgan Chase Bank N.A. | 9/30/22 | 6 | ||||||||||||||
EUR | 24,962 | USD | 25,295 | JPMorgan Chase Bank N.A. | 9/30/22 | 323 | ||||||||||||||
USD | 4,362,255 | EUR | 4,058,474 | JPMorgan Chase Bank N.A. | 9/14/22 | 201,872 | ||||||||||||||
USD | 960,856 | EUR | 908,714 | JPMorgan Chase Bank N.A. | 9/30/22 | 28,259 | ||||||||||||||
USD | 102,172 | EUR | 96,628 | JPMorgan Chase Bank N.A. | 9/30/22 | 3,005 | ||||||||||||||
USD | 3,309 | EUR | 3,106 | JPMorgan Chase Bank N.A. | 9/30/22 | 122 | ||||||||||||||
USD | 24,489 | EUR | 23,087 | JPMorgan Chase Bank N.A. | 9/30/22 | 795 | ||||||||||||||
USD | 2,116 | EUR | 2,072 | JPMorgan Chase Bank N.A. | 9/30/22 | (11) | ||||||||||||||
USD | 3,268 | EUR | 3,199 | JPMorgan Chase Bank N.A. | 9/30/22 | (15) | ||||||||||||||
USD | 25,136 | EUR | 24,833 | JPMorgan Chase Bank N.A. | 9/30/22 | (350) | ||||||||||||||
USD | 4,162 | EUR | 4,077 | JPMorgan Chase Bank N.A. | 9/30/22 | (23) | ||||||||||||||
USD | 37,116 | EUR | 36,333 | JPMorgan Chase Bank N.A. | 9/30/22 | (172) | ||||||||||||||
USD | 3,285 | EUR | 3,216 | JPMorgan Chase Bank N.A. | 9/30/22 | (15) | ||||||||||||||
USD | 2,782 | EUR | 2,718 | JPMorgan Chase Bank N.A. | 9/30/22 | (8) | ||||||||||||||
USD | 4,393 | EUR | 4,276 | JPMorgan Chase Bank N.A. | 9/30/22 | 4 | ||||||||||||||
USD | 24,065 | EUR | 23,434 | JPMorgan Chase Bank N.A. | 9/30/22 | 15 | ||||||||||||||
USD | 29,705 | EUR | 29,052 | JPMorgan Chase Bank N.A. | 9/30/22 | (110) |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 3,118 | EUR | 3,050 | JPMorgan Chase Bank N.A. | 9/30/22 | $ | (12) | |||||||||||||
GBP | 355,617 | USD | 446,168 | Bank of America N.A. | 9/14/22 | (12,673) | ||||||||||||||
GBP | 5,512 | USD | 6,774 | Bank of America N.A. | 9/30/22 | (52) | ||||||||||||||
GBP | 8,014 | USD | 9,667 | Bank of America N.A. | 9/30/22 | 106 | ||||||||||||||
GBP | 4,823 | USD | 5,767 | Bank of America N.A. | 9/30/22 | 114 | ||||||||||||||
GBP | 3,974 | USD | 4,721 | Bank of America N.A. | 9/30/22 | 125 | ||||||||||||||
GBP | 8,440 | USD | 10,186 | Bank of America N.A. | 9/30/22 | 107 | ||||||||||||||
GBP | 3,603 | USD | 4,339 | Bank of America N.A. | 9/30/22 | 54 | ||||||||||||||
USD | 201,077 | GBP | 163,671 | Bank of America N.A. | 9/30/22 | 1,488 | ||||||||||||||
USD | 6,107 | GBP | 4,998 | Bank of America N.A. | 9/30/22 | 13 | ||||||||||||||
USD | 5,122 | GBP | 4,216 | Bank of America N.A. | 9/30/22 | (18) | ||||||||||||||
USD | 5,702 | GBP | 4,736 | Bank of America N.A. | 9/30/22 | (74) | ||||||||||||||
USD | 4,986 | GBP | 4,142 | Bank of America N.A. | 9/30/22 | (65) | ||||||||||||||
USD | 4,854 | GBP | 4,056 | Bank of America N.A. | 9/30/22 | (92) | ||||||||||||||
IDR | 2,176,725,218 | USD | 150,461 | Goldman Sachs & Co. | 9/14/22 | (3,816) | ||||||||||||||
ILS | 161,671 | USD | 48,906 | UBS AG | 9/14/22 | (1,224) | ||||||||||||||
JPY | 801,678,773 | USD | 5,996,281 | Bank of America N.A. | 9/14/22 | 35,086 | ||||||||||||||
JPY | 238,000 | USD | 1,762 | Bank of America N.A. | 9/30/22 | 31 | ||||||||||||||
JPY | 326,400 | USD | 2,415 | Bank of America N.A. | 9/30/22 | 44 | ||||||||||||||
JPY | 247,095 | USD | 1,790 | Bank of America N.A. | 9/30/22 | 72 | ||||||||||||||
USD | 1,643,342 | JPY | 215,784,218 | Bank of America N.A. | 9/14/22 | 19,906 | ||||||||||||||
USD | 52,308 | JPY | 7,017,600 | Bank of America N.A. | 9/30/22 | (559) | ||||||||||||||
USD | 2,497 | JPY | 337,280 | Bank of America N.A. | 9/30/22 | (44) | ||||||||||||||
USD | 1,326 | JPY | 182,240 | Bank of America N.A. | 9/30/22 | (47) | ||||||||||||||
KRW | 519,084,252 | USD | 414,389 | Goldman Sachs & Co. | 9/14/22 | (15,959) | ||||||||||||||
MXN | 7,800,000 | USD | 392,019 | Goldman Sachs & Co. | 9/14/22 | (12,401) | ||||||||||||||
USD | 309,408 | MXN | 6,181,480 | Goldman Sachs & Co. | 9/14/22 | 8,562 | ||||||||||||||
NOK | 29,841 | USD | 2,935 | UBS AG | 9/30/22 | 156 | ||||||||||||||
NOK | 28,841 | USD | 2,914 | UBS AG | 9/30/22 | 74 | ||||||||||||||
NOK | 65,502 | USD | 6,572 | UBS AG | 9/30/22 | 213 | ||||||||||||||
NOK | 34,059 | USD | 3,437 | UBS AG | 9/30/22 | 91 | ||||||||||||||
NOK | 21,388 | USD | 2,161 | UBS AG | 9/30/22 | 55 | ||||||||||||||
NOK | 23,534 | USD | 2,392 | UBS AG | 9/30/22 | 46 | ||||||||||||||
USD | 96,534 | NOK | 960,869 | UBS AG | 9/30/22 | (3,004) | ||||||||||||||
USD | 3,529 | NOK | 34,612 | UBS AG | 9/30/22 | (57) | ||||||||||||||
USD | 5,114 | NOK | 51,660 | UBS AG | 9/30/22 | (237) | ||||||||||||||
SEK | 1,442,912 | USD | 147,803 | UBS AG | 9/14/22 | (5,541) | ||||||||||||||
USD | 307,396 | THB | 10,560,588 | Goldman Sachs & Co. | 9/14/22 | 19,645 | ||||||||||||||
$ | 322,182 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
Euro-Bobl 5-Year Bonds | 27 | September 2022 | $ | 3,528,616 | $ | 72,260 | ||||||||
Korean Treasury 10-Year Bonds | 7 | September 2022 | 623,432 | 34,367 | ||||||||||
U.K. Gilt 10-Year Bonds | 23 | September 2022 | 3,310,151 | 3,329 | ||||||||||
U.S. Treasury 2-Year Notes | 34 | September 2022 | 7,155,672 | (30,082) | ||||||||||
U.S. Treasury 5-Year Notes | 36 | September 2022 | 4,094,156 | 63,492 | ||||||||||
U.S. Treasury 10-Year Notes | 23 | September 2022 | 2,786,234 | 3,454 | ||||||||||
U.S. Treasury 10-Year Ultra Notes | 22 | September 2022 | 2,887,500 | 33,035 | ||||||||||
U.S. Treasury Long Bonds | 10 | September 2022 | 1,440,000 | 47,481 | ||||||||||
$ | 25,825,761 | $ | 227,336 |
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS | |||||||||||||||||||||||
Reference Entity | Type | Fixed Rate Received (Paid) Quarterly | Termination Date | Notional Amount | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Value^ | ||||||||||||||||
Markit CDX North America High Yield Index Series 37 | Buy | (5.00)% | 12/20/26 | $ | 3,702,600 | $ | (153,321) | $ | 42,988 | $ | (110,333) | ||||||||||||
Markit CDX North America High Yield Index Series 38 | Buy | (5.00)% | 6/20/27 | $ | 1,386,000 | 46,041 | (70,239) | (24,198) | |||||||||||||||
$ | (107,280) | $ | (27,251) | $ | (134,531) |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
ADR | - | American Depositary Receipt | ||||||
AUD | - | Australian Dollar | ||||||
CAD | - | Canadian Dollar | ||||||
CDX | - | Credit Derivatives Indexes | ||||||
CHF | - | Swiss Franc | ||||||
CNY | - | Chinese Yuan | ||||||
CZK | - | Czech Koruna | ||||||
DKK | - | Danish Krone | ||||||
EUR | - | Euro | ||||||
FHLMC | - | Federal Home Loan Mortgage Corporation | ||||||
FNMA | - | Federal National Mortgage Association | ||||||
GBP | - | British Pound | ||||||
GNMA | - | Government National Mortgage Association | ||||||
GO | - | General Obligation | ||||||
H15T1Y | - | Constant Maturity U.S. Treasury Note Yield Curve Rate Index | ||||||
IDR | - | Indonesian Rupiah | ||||||
ILS | - | Israeli Shekel | ||||||
IO | - | Interest Only | ||||||
JPY | - | Japanese Yen | ||||||
KRW | - | South Korean Won | ||||||
LIBOR | - | London Interbank Offered Rate | ||||||
LOC | - | Letter of Credit | ||||||
MXN | - | Mexican Peso | ||||||
MYR | - | Malaysian Ringgit | ||||||
NOK | - | Norwegian Krone | ||||||
PLN | - | Polish Zloty | ||||||
SEK | - | Swedish Krona | ||||||
SEQ | - | Sequential Payer | ||||||
SGD | - | Singapore Dollar | ||||||
SOFR | - | Secured Overnight Financing Rate | ||||||
THB | - | Thai Baht | ||||||
USD | - | United States Dollar | ||||||
VRDN | - | Variable Rate Demand Note. The instrument may be payable upon demand and 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. The date of the demand feature is disclosed. | ||||||
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. The security's effective maturity date may be shorter than the final maturity date shown. |
Statement of Assets and Liabilities |
JULY 31, 2022 | |||||
Assets | |||||
Investment securities - unaffiliated, at value (cost of $220,642,096) — including $766,791 of securities on loan | $ | 224,988,360 | |||
Investment securities - affiliated, at value (cost of $117,059,717) | 131,647,238 | ||||
Investment made with cash collateral received for securities on loan, at value (cost of $659,322) | 659,322 | ||||
Total investment securities, at value (cost of $338,361,135) | 357,294,920 | ||||
Foreign currency holdings, at value (cost of $25,453) | 23,351 | ||||
Foreign deposits with broker for futures contracts, at value (cost of $51,184) | 50,928 | ||||
Receivable for investments sold | 635,596 | ||||
Receivable for capital shares sold | 61,620 | ||||
Receivable for variation margin on futures contracts | 67,405 | ||||
Unrealized appreciation on forward foreign currency exchange contracts | 401,098 | ||||
Interest and dividends receivable | 682,456 | ||||
Securities lending receivable | 689 | ||||
359,218,063 | |||||
Liabilities | |||||
Disbursements in excess of demand deposit cash | 126,992 | ||||
Payable for collateral received for securities on loan | 659,322 | ||||
Payable for investments purchased | 150,326 | ||||
Payable for capital shares redeemed | 148,261 | ||||
Payable for variation margin on swap agreements | 7,515 | ||||
Unrealized depreciation on forward foreign currency exchange contracts | 78,916 | ||||
Accrued management fees | 178,445 | ||||
Distribution and service fees payable | 27,590 | ||||
1,377,367 | |||||
Net Assets | $ | 357,840,696 | |||
Net Assets Consist of: | |||||
Capital (par value and paid-in surplus) | $ | 333,510,779 | |||
Distributable earnings | 24,329,917 | ||||
$ | 357,840,696 |
Net Assets | Shares Outstanding | Net Asset Value Per Share* | |||||||||
Investor Class, $0.01 Par Value | $136,990,072 | 25,618,325 | $5.35 | ||||||||
I Class, $0.01 Par Value | $35,547,959 | 6,644,544 | $5.35 | ||||||||
A Class, $0.01 Par Value | $79,127,994 | 14,815,358 | $5.34 | ||||||||
C Class, $0.01 Par Value | $8,605,725 | 1,650,800 | $5.21 | ||||||||
R Class, $0.01 Par Value | $10,251,143 | 1,925,348 | $5.32 | ||||||||
R5 Class, $0.01 Par Value | $7,991 | 1,492 | $5.36 | ||||||||
R6 Class, $0.01 Par Value | $87,309,812 | 16,317,952 | $5.35 |
Statement of Operations |
YEAR ENDED JULY 31, 2022 | |||||
Investment Income (Loss) | |||||
Income: | |||||
Interest (net of foreign taxes withheld of $3,260) | $ | 6,461,548 | |||
Income distributions from affiliated funds | 2,957,833 | ||||
Dividends (net of foreign taxes withheld of $57,886) | 1,554,541 | ||||
Securities lending, net | 4,844 | ||||
10,978,766 | |||||
Expenses: | |||||
Management fees | 3,620,727 | ||||
Distribution and service fees: | |||||
A Class | 214,984 | ||||
C Class | 108,541 | ||||
R Class | 55,139 | ||||
Directors' fees and expenses | 9,975 | ||||
Other expenses | 14,938 | ||||
4,024,304 | |||||
Fees waived(1) | (1,151,190) | ||||
2,873,114 | |||||
Net investment income (loss) | 8,105,652 | ||||
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) on: | |||||
Investment transactions (including $4,084,725 from affiliated funds and net of foreign tax expenses paid (refunded) of $1,352) | 13,349,848 | ||||
Forward foreign currency exchange contract transactions | 1,331,369 | ||||
Futures contract transactions | (938,553) | ||||
Swap agreement transactions | 53,415 | ||||
Foreign currency translation transactions | (93,795) | ||||
Capital gain distributions received from affiliated funds | 16,687 | ||||
13,718,971 | |||||
Change in net unrealized appreciation (depreciation) on: | |||||
Investments (including $(19,672,089) from affiliated funds and (increase) decrease in accrued foreign taxes of $1,682) | (56,043,464) | ||||
Forward foreign currency exchange contracts | 173,203 | ||||
Futures contracts | 127,518 | ||||
Swap agreements | (27,251) | ||||
Translation of assets and liabilities in foreign currencies | (15,279) | ||||
(55,785,273) | |||||
Net realized and unrealized gain (loss) | (42,066,302) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (33,960,650) |
Statement of Changes in Net Assets |
YEARS ENDED JULY 31, 2022 AND JULY 31, 2021 | ||||||||
Increase (Decrease) in Net Assets | July 31, 2022 | July 31, 2021 | ||||||
Operations | ||||||||
Net investment income (loss) | $ | 8,105,652 | $ | 5,802,115 | ||||
Net realized gain (loss) | 13,718,971 | 26,222,762 | ||||||
Change in net unrealized appreciation (depreciation) | (55,785,273) | 37,278,146 | ||||||
Net increase (decrease) in net assets resulting from operations | (33,960,650) | 69,303,023 | ||||||
Distributions to Shareholders | ||||||||
From earnings: | ||||||||
Investor Class | (14,197,521) | (6,695,769) | ||||||
I Class | (3,258,758) | (1,438,166) | ||||||
A Class | (7,577,852) | (3,455,974) | ||||||
C Class | (969,725) | (541,627) | ||||||
R Class | (944,560) | (459,461) | ||||||
R5 Class | (251,970) | (1,614,113) | ||||||
R6 Class | (8,816,966) | (3,762,974) | ||||||
Decrease in net assets from distributions | (36,017,352) | (17,968,084) | ||||||
Capital Share Transactions | ||||||||
Net increase (decrease) in net assets from capital share transactions (Note 5) | (24,231,554) | 15,524,665 | ||||||
Net increase (decrease) in net assets | (94,209,556) | 66,859,604 | ||||||
Net Assets | ||||||||
Beginning of period | 452,050,252 | 385,190,648 | ||||||
End of period | $ | 357,840,696 | $ | 452,050,252 |
Notes to Financial Statements |
Remaining Contractual Maturity of Agreements | |||||||||||||||||
Overnight and Continuous | <30 days | Between 30 & 90 days | >90 days | Total | |||||||||||||
Securities Lending Transactions(1) | |||||||||||||||||
Common Stocks | $ | 659,322 | — | — | — | $ | 659,322 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 659,322 |
Management Fee Schedule Range | Effective Annual Management Fee | ||||||||||
Before Waiver | After Waiver | ||||||||||
Investor Class | 0.80% to 1.00% | 1.00% | 0.71% | ||||||||
I Class | 0.60% to 0.80% | 0.80% | 0.51% | ||||||||
A Class | 0.80% to 1.00% | 1.00% | 0.71% | ||||||||
C Class | 0.80% to 1.00% | 1.00% | 0.71% | ||||||||
R Class | 0.80% to 1.00% | 1.00% | 0.71% | ||||||||
R5 Class | 0.60% to 0.80% | 0.80% | 0.51% | ||||||||
R6 Class | 0.45% to 0.65% | 0.65% | 0.36% |
Year ended July 31, 2022 | Year ended July 31, 2021 | |||||||||||||
Shares | Amount | Shares | Amount | |||||||||||
Investor Class/Shares Authorized | 500,000,000 | 500,000,000 | ||||||||||||
Sold | 2,404,449 | $ | 14,183,260 | 4,004,568 | $ | 24,144,889 | ||||||||
Issued in reinvestment of distributions | 2,330,401 | 13,840,893 | 1,081,604 | 6,467,181 | ||||||||||
Redeemed | (5,283,194) | (30,544,732) | (4,468,193) | (27,002,114) | ||||||||||
(548,344) | (2,520,579) | 617,979 | 3,609,956 | |||||||||||
I Class/Shares Authorized | 120,000,000 | 120,000,000 | ||||||||||||
Sold | 2,928,119 | 17,067,248 | 1,905,056 | 11,566,663 | ||||||||||
Issued in reinvestment of distributions | 550,177 | 3,258,357 | 240,061 | 1,437,511 | ||||||||||
Redeemed | (2,784,085) | (16,413,767) | (1,143,757) | (6,862,440) | ||||||||||
694,211 | 3,911,838 | 1,001,360 | 6,141,734 | |||||||||||
A Class/Shares Authorized | 270,000,000 | 270,000,000 | ||||||||||||
Sold | 2,160,716 | 12,758,637 | 3,091,189 | 18,624,543 | ||||||||||
Issued in reinvestment of distributions | 1,262,338 | 7,488,099 | 568,940 | 3,397,027 | ||||||||||
Redeemed | (3,015,610) | (17,813,834) | (3,075,861) | (18,625,515) | ||||||||||
407,444 | 2,432,902 | 584,268 | 3,396,055 | |||||||||||
C Class/Shares Authorized | 70,000,000 | 70,000,000 | ||||||||||||
Sold | 567,403 | 3,440,127 | 400,624 | 2,346,781 | ||||||||||
Issued in reinvestment of distributions | 166,126 | 966,170 | 92,490 | 540,053 | ||||||||||
Redeemed | (988,863) | (5,621,233) | (1,271,056) | (7,510,076) | ||||||||||
(255,334) | (1,214,936) | (777,942) | (4,623,242) | |||||||||||
R Class/Shares Authorized | 50,000,000 | 50,000,000 | ||||||||||||
Sold | 371,423 | 2,161,736 | 390,576 | 2,359,899 | ||||||||||
Issued in reinvestment of distributions | 159,376 | 943,066 | 76,980 | 458,694 | ||||||||||
Redeemed | (453,586) | (2,676,781) | (534,155) | (3,272,842) | ||||||||||
77,213 | 428,021 | (66,599) | (454,249) | |||||||||||
R5 Class/Shares Authorized | 150,000,000 | 150,000,000 | ||||||||||||
Sold | 103,319 | 664,629 | 480,848 | 2,913,012 | ||||||||||
Issued in reinvestment of distributions | 40,002 | 251,969 | 269,380 | 1,614,113 | ||||||||||
Redeemed | (6,158,876) | (39,840,650) | (819,442) | (4,902,813) | ||||||||||
(6,015,555) | (38,924,052) | (69,214) | (375,688) | |||||||||||
R6 Class/Shares Authorized | 235,000,000 | 235,000,000 | ||||||||||||
Sold | 3,826,951 | 22,648,859 | 3,111,443 | 19,058,432 | ||||||||||
Issued in reinvestment of distributions | 1,487,260 | 8,816,966 | 628,858 | 3,762,974 | ||||||||||
Redeemed | (3,454,166) | (19,810,573) | (2,484,704) | (14,991,307) | ||||||||||
1,860,045 | 11,655,252 | 1,255,597 | 7,830,099 | |||||||||||
Net increase (decrease) | (3,780,320) | $ | (24,231,554) | 2,545,449 | $ | 15,524,665 |
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Affiliated Funds | $ | 131,647,238 | — | — | |||||||
Common Stocks | 52,844,876 | $ | 16,112,617 | — | |||||||
U.S. Treasury Securities | — | 67,126,627 | — | ||||||||
Corporate Bonds | — | 17,424,672 | — | ||||||||
Sovereign Governments and Agencies | — | 16,437,491 | — | ||||||||
Collateralized Loan Obligations | — | 7,664,594 | — | ||||||||
Asset-Backed Securities | — | 2,677,310 | — | ||||||||
Preferred Stocks | — | 1,923,557 | — | ||||||||
Collateralized Mortgage Obligations | — | 1,680,092 | — | ||||||||
Municipal Securities | — | 1,438,603 | — | ||||||||
U.S. Government Agency Mortgage-Backed Securities | — | 752,854 | — | ||||||||
Exchange-Traded Funds | 383,671 | — | — | ||||||||
Commercial Mortgage-Backed Securities | — | 283,671 | — | ||||||||
Short-Term Investments | 15,081,720 | 23,815,327 | — | ||||||||
$ | 199,957,505 | $ | 157,337,415 | — | |||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 147,462 | $ | 109,956 | — | ||||||
Forward Foreign Currency Exchange Contracts | — | 401,098 | — | ||||||||
$ | 147,462 | $ | 511,054 | — | |||||||
Liabilities | |||||||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 30,082 | — | — | |||||||
Swap Agreements | — | $ | 134,531 | — | |||||||
Forward Foreign Currency Exchange Contracts | — | 78,916 | — | ||||||||
$ | 30,082 | $ | 213,447 | — |
Asset Derivatives | Liability Derivatives | |||||||||||||
Type of Risk Exposure | Location on Statement of Assets and Liabilities | Value | Location on Statement of Assets and Liabilities | Value | ||||||||||
Credit Risk | Receivable for variation margin on swap agreements* | — | Payable for variation margin on swap agreements* | $ | 7,515 | |||||||||
Foreign Currency Risk | Unrealized appreciation on forward foreign currency exchange contracts | $ | 401,098 | Unrealized depreciation on forward foreign currency exchange contracts | 78,916 | |||||||||
Interest Rate Risk | Receivable for variation margin on futures contracts* | 63,579 | Payable for variation margin on futures contracts* | 3,453 | ||||||||||
$ | 464,677 | $ | 89,884 |
Net Realized Gain (Loss) | Change in Net Unrealized Appreciation (Depreciation) | |||||||||||||
Type of Risk Exposure | Location on Statement of Operations | Value | Location on Statement of Operations | Value | ||||||||||
Credit Risk | Net realized gain (loss) on swap agreement transactions | $ | 53,415 | Change in net unrealized appreciation (depreciation) on swap agreements | $ | (27,251) | ||||||||
Foreign Currency Risk | Net realized gain (loss) on forward foreign currency exchange contract transactions | 1,331,369 | Change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts | 173,203 | ||||||||||
Interest Rate Risk | Net realized gain (loss) on futures contract transactions | (938,553) | Change in net unrealized appreciation (depreciation) on futures contracts | 127,518 | ||||||||||
$ | 446,231 | $ | 273,470 |
2022 | 2021 | |||||||
Distributions Paid From | ||||||||
Ordinary income | $ | 17,652,606 | $ | 8,616,574 | ||||
Long-term capital gains | $ | 18,364,746 | $ | 9,351,510 |
Federal tax cost of investments | $ | 339,668,158 | |||
Gross tax appreciation of investments | $ | 34,477,426 | |||
Gross tax depreciation of investments | (16,850,664) | ||||
Net tax appreciation (depreciation) of investments | 17,626,762 | ||||
Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies | 40,079 | ||||
Net tax appreciation (depreciation) | $ | 17,666,841 | |||
Other book-to-tax adjustments | $ | (118,888) | |||
Undistributed ordinary income | — | ||||
Accumulated long-term gains | $ | 8,179,921 | |||
Post-October capital loss deferral | $ | (1,397,957) |
Affiliated Fund(1) | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Distributions Received(2) | ||||||||||||||||||
American Century Diversified Corporate Bond ETF | $ | 20,574 | — | — | $ | (2,088) | $ | 18,486 | 389 | — | $ | 366 | ||||||||||||||
American Century Emerging Markets Bond ETF | — | $ | 7,025 | — | (966) | 6,059 | 156 | — | 177 | |||||||||||||||||
American Century Focused Dynamic Growth ETF(3) | 4,660 | 3,674 | $ | 2,146 | (1,660) | 4,528 | 76 | $ | (299) | — | ||||||||||||||||
American Century Focused Large Cap Value ETF | 13,405 | 301 | 6,053 | (596) | 7,057 | 120 | 320 | 339 | ||||||||||||||||||
American Century Multisector Income ETF | — | 17,647 | — | (1,865) | 15,782 | 352 | — | 493 | ||||||||||||||||||
American Century Quality Diversified International ETF | 9,959 | 3,004 | 1,080 | (2,439) | 9,444 | 230 | (8) | 308 | ||||||||||||||||||
American Century STOXX U.S. Quality Growth ETF | 17,377 | 4,917 | 6,216 | (3,146) | 12,932 | 207 | 830 | 56 | ||||||||||||||||||
American Century STOXX U.S. Quality Value ETF | 29,240 | 4,584 | 8,328 | (2,656) | 22,840 | 469 | 1,786 | 481 | ||||||||||||||||||
Avantis International Equity ETF | 11,048 | 2,794 | 1,098 | (2,015) | 10,729 | 201 | (19) | 356 | ||||||||||||||||||
Avantis International Small Cap Value ETF | 2,387 | 80 | 261 | (358) | 1,848 | 33 | 63 | 62 | ||||||||||||||||||
Avantis U.S. Equity ETF | 21,279 | 135 | 2,536 | (2,047) | 16,831 | 237 | 1,315 | 250 | ||||||||||||||||||
Avantis U.S. Small Cap Value ETF | 6,430 | 68 | 1,551 | 164 | 5,111 | 67 | 97 | 87 | ||||||||||||||||||
$ | 136,359 | $ | 44,229 | $ | 29,269 | $ | (19,672) | $ | 131,647 | 2,537 | $ | 4,085 | $ | 2,975 |
Financial Highlights |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
Investor Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.39 | 0.12 | (0.61) | (0.49) | (0.12) | (0.43) | (0.55) | $5.35 | (8.39)% | 0.72% | 1.01% | 2.00% | 1.71% | 40% | $136,990 | ||||||||||||||||||||||||||||||||
2021 | $5.65 | 0.08 | 0.92 | 1.00 | (0.07) | (0.19) | (0.26) | $6.39 | 18.09% | 0.76% | 1.00% | 1.38% | 1.14% | 57% | $167,285 | ||||||||||||||||||||||||||||||||
2020 | $5.67 | 0.06 | 0.37 | 0.43 | (0.07) | (0.38) | (0.45) | $5.65 | 7.89% | 0.85% | 1.01% | 1.09% | 0.93% | 87% | $144,395 | ||||||||||||||||||||||||||||||||
2019 | $5.83 | 0.09 | 0.14 | 0.23 | (0.10) | (0.29) | (0.39) | $5.67 | 4.55% | 1.00% | 1.01% | 1.58% | 1.57% | 65% | $161,655 | ||||||||||||||||||||||||||||||||
2018(3) | $6.06 | 0.06 | 0.05 | 0.11 | (0.06) | (0.28) | (0.34) | $5.83 | 2.01% | 1.00%(4) | 1.00%(4) | 1.51%(4) | 1.51%(4) | 53% | $179,992 | ||||||||||||||||||||||||||||||||
2017 | $5.62 | 0.07 | 0.54 | 0.61 | (0.08) | (0.09) | (0.17) | $6.06 | 11.02% | 1.01% | 1.01% | 1.28% | 1.28% | 78% | $246,975 | ||||||||||||||||||||||||||||||||
I Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.40 | 0.13 | (0.62) | (0.49) | (0.13) | (0.43) | (0.56) | $5.35 | (8.35)% | 0.52% | 0.81% | 2.20% | 1.91% | 40% | $35,548 | ||||||||||||||||||||||||||||||||
2021 | $5.65 | 0.10 | 0.93 | 1.03 | (0.09) | (0.19) | (0.28) | $6.40 | 18.51% | 0.56% | 0.80% | 1.58% | 1.34% | 57% | $38,058 | ||||||||||||||||||||||||||||||||
2020 | $5.67 | 0.07 | 0.37 | 0.44 | (0.08) | (0.38) | (0.46) | $5.65 | 8.11% | 0.65% | 0.81% | 1.29% | 1.13% | 87% | $27,985 | ||||||||||||||||||||||||||||||||
2019 | $5.84 | 0.10 | 0.13 | 0.23 | (0.11) | (0.29) | (0.40) | $5.67 | 4.57% | 0.80% | 0.81% | 1.78% | 1.77% | 65% | $29,248 | ||||||||||||||||||||||||||||||||
2018(3) | $6.06 | 0.07 | 0.06 | 0.13 | (0.07) | (0.28) | (0.35) | $5.84 | 2.33% | 0.80%(4) | 0.80%(4) | 1.71%(4) | 1.71%(4) | 53% | $44,101 | ||||||||||||||||||||||||||||||||
2017 | $5.63 | 0.09 | 0.52 | 0.61 | (0.09) | (0.09) | (0.18) | $6.06 | 11.05% | 0.81% | 0.81% | 1.48% | 1.48% | 78% | $46,536 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
A Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.39 | 0.10 | (0.62) | (0.52) | (0.10) | (0.43) | (0.53) | $5.34 | (8.78)% | 0.97% | 1.26% | 1.75% | 1.46% | 40% | $79,128 | ||||||||||||||||||||||||||||||||
2021 | $5.65 | 0.07 | 0.92 | 0.99 | (0.06) | (0.19) | (0.25) | $6.39 | 17.79% | 1.01% | 1.25% | 1.13% | 0.89% | 57% | $92,011 | ||||||||||||||||||||||||||||||||
2020 | $5.67 | 0.05 | 0.36 | 0.41 | (0.05) | (0.38) | (0.43) | $5.65 | 7.62% | 1.10% | 1.26% | 0.84% | 0.68% | 87% | $78,047 | ||||||||||||||||||||||||||||||||
2019 | $5.83 | 0.07 | 0.14 | 0.21 | (0.08) | (0.29) | (0.37) | $5.67 | 4.29% | 1.25% | 1.26% | 1.33% | 1.32% | 65% | $86,822 | ||||||||||||||||||||||||||||||||
2018(3) | $6.05 | 0.05 | 0.06 | 0.11 | (0.05) | (0.28) | (0.33) | $5.83 | 1.99% | 1.25%(4) | 1.25%(4) | 1.26%(4) | 1.26%(4) | 53% | $113,865 | ||||||||||||||||||||||||||||||||
2017 | $5.62 | 0.06 | 0.52 | 0.58 | (0.06) | (0.09) | (0.15) | $6.05 | 10.56% | 1.26% | 1.26% | 1.03% | 1.03% | 78% | $117,230 | ||||||||||||||||||||||||||||||||
C Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.24 | 0.06 | (0.60) | (0.54) | (0.06) | (0.43) | (0.49) | $5.21 | (9.37)% | 1.72% | 2.01% | 1.00% | 0.71% | 40% | $8,606 | ||||||||||||||||||||||||||||||||
2021 | $5.53 | 0.02 | 0.90 | 0.92 | (0.02) | (0.19) | (0.21) | $6.24 | 16.90% | 1.76% | 2.00% | 0.38% | 0.14% | 57% | $11,902 | ||||||||||||||||||||||||||||||||
2020 | $5.57 | 0.01 | 0.35 | 0.36 | (0.02) | (0.38) | (0.40) | $5.53 | 6.78% | 1.85% | 2.01% | 0.09% | (0.07)% | 87% | $14,851 | ||||||||||||||||||||||||||||||||
2019 | $5.74 | 0.03 | 0.14 | 0.17 | (0.05) | (0.29) | (0.34) | $5.57 | 3.43% | 2.00% | 2.01% | 0.58% | 0.57% | 65% | $17,705 | ||||||||||||||||||||||||||||||||
2018(3) | $5.96 | 0.02 | 0.07 | 0.09 | (0.03) | (0.28) | (0.31) | $5.74 | 1.58% | 2.00%(4) | 2.00%(4) | 0.51%(4) | 0.51%(4) | 53% | $26,867 | ||||||||||||||||||||||||||||||||
2017 | $5.54 | 0.02 | 0.51 | 0.53 | (0.02) | (0.09) | (0.11) | $5.96 | 9.77% | 2.01% | 2.01% | 0.28% | 0.28% | 78% | $32,110 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
R Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.37 | 0.09 | (0.62) | (0.53) | (0.09) | (0.43) | (0.52) | $5.32 | (9.04)% | 1.22% | 1.51% | 1.50% | 1.21% | 40% | $10,251 | ||||||||||||||||||||||||||||||||
2021 | $5.63 | 0.05 | 0.93 | 0.98 | (0.05) | (0.19) | (0.24) | $6.37 | 17.59% | 1.26% | 1.50% | 0.88% | 0.64% | 57% | $11,768 | ||||||||||||||||||||||||||||||||
2020 | $5.65 | 0.03 | 0.37 | 0.40 | (0.04) | (0.38) | (0.42) | $5.63 | 7.37% | 1.35% | 1.51% | 0.59% | 0.43% | 87% | $10,783 | ||||||||||||||||||||||||||||||||
2019 | $5.82 | 0.06 | 0.13 | 0.19 | (0.07) | (0.29) | (0.36) | $5.65 | 3.86% | 1.50% | 1.51% | 1.08% | 1.07% | 65% | $10,314 | ||||||||||||||||||||||||||||||||
2018(3) | $6.04 | 0.04 | 0.06 | 0.10 | (0.04) | (0.28) | (0.32) | $5.82 | 1.83% | 1.50%(4) | 1.50%(4) | 1.01%(4) | 1.01%(4) | 53% | $10,960 | ||||||||||||||||||||||||||||||||
2017 | $5.61 | 0.05 | 0.52 | 0.57 | (0.05) | (0.09) | (0.14) | $6.04 | 10.31% | 1.51% | 1.51% | 0.78% | 0.78% | 78% | $15,004 | ||||||||||||||||||||||||||||||||
R5 Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.41 | 0.10 | (0.59) | (0.49) | (0.13) | (0.43) | (0.56) | $5.36 | (8.34)% | 0.52% | 0.81% | 2.20% | 1.91% | 40% | $8 | ||||||||||||||||||||||||||||||||
2021 | $5.66 | 0.10 | 0.93 | 1.03 | (0.09) | (0.19) | (0.28) | $6.41 | 18.48% | 0.56% | 0.80% | 1.58% | 1.34% | 57% | $38,543 | ||||||||||||||||||||||||||||||||
2020 | $5.68 | 0.07 | 0.37 | 0.44 | (0.08) | (0.38) | (0.46) | $5.66 | 8.10% | 0.65% | 0.81% | 1.29% | 1.13% | 87% | $34,465 | ||||||||||||||||||||||||||||||||
2019 | $5.85 | 0.10 | 0.13 | 0.23 | (0.11) | (0.29) | (0.40) | $5.68 | 4.75% | 0.80% | 0.81% | 1.78% | 1.77% | 65% | $36,866 | ||||||||||||||||||||||||||||||||
2018(3) | $6.07 | 0.08 | 0.05 | 0.13 | (0.07) | (0.28) | (0.35) | $5.85 | 2.15% | 0.80%(4) | 0.80%(4) | 1.71%(4) | 1.71%(4) | 53% | $34,766 | ||||||||||||||||||||||||||||||||
2017(5) | $5.73 | 0.06 | 0.33 | 0.39 | (0.05) | — | (0.05) | $6.07 | 6.80% | 0.81%(4) | 0.81%(4) | 1.60%(4) | 1.60%(4) | 78%(6) | $5 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
R6 Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $6.40 | 0.14 | (0.62) | (0.48) | (0.14) | (0.43) | (0.57) | $5.35 | (8.21)% | 0.37% | 0.66% | 2.35% | 2.06% | 40% | $87,310 | ||||||||||||||||||||||||||||||||
2021 | $5.66 | 0.10 | 0.93 | 1.03 | (0.10) | (0.19) | (0.29) | $6.40 | 18.48% | 0.41% | 0.65% | 1.73% | 1.49% | 57% | $92,483 | ||||||||||||||||||||||||||||||||
2020 | $5.68 | 0.08 | 0.37 | 0.45 | (0.09) | (0.38) | (0.47) | $5.66 | 8.28% | 0.50% | 0.66% | 1.44% | 1.28% | 87% | $74,665 | ||||||||||||||||||||||||||||||||
2019 | $5.84 | 0.11 | 0.14 | 0.25 | (0.12) | (0.29) | (0.41) | $5.68 | 4.91% | 0.65% | 0.66% | 1.93% | 1.92% | 65% | $69,846 | ||||||||||||||||||||||||||||||||
2018(3) | $6.06 | 0.07 | 0.07 | 0.14 | (0.08) | (0.28) | (0.36) | $5.84 | 2.44% | 0.65%(4) | 0.65%(4) | 1.86%(4) | 1.86%(4) | 53% | $76,077 | ||||||||||||||||||||||||||||||||
2017 | $5.63 | 0.10 | 0.52 | 0.62 | (0.10) | (0.09) | (0.19) | $6.06 | 11.21% | 0.66% | 0.66% | 1.63% | 1.63% | 78% | $63,151 |
Notes to Financial Highlights |
Report of Independent Registered Public Accounting Firm |
Management |
Name (Year of Birth) | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Director | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Directors | |||||||||||||||||
Thomas W. Bunn (1953) | Director | Since 2017 | Retired | 64 | None | ||||||||||||
Chris H. Cheesman (1962) | Director | Since 2019 | Retired. Senior Vice President & Chief Audit Executive, AllianceBernstein (1999 to 2018) | 64 | Alleghany Corporation | ||||||||||||
Barry Fink (1955) | Director | Since 2012 (independent since 2016) | Retired | 64 | None | ||||||||||||
Rajesh K. Gupta (1960) | Director | Since 2019 | Partner Emeritus, SeaCrest Investment Management and SeaCrest Wealth Management (2019 to present); Chief Executive Officer and Chief Investment Officer, SeaCrest Investment Management (2006 to 2019); Chief Executive Officer and Chief Investment Officer, SeaCrest Wealth Management (2008 to 2019) | 64 | None |
Name (Year of Birth) | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Director | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Directors | |||||||||||||||||
Lynn Jenkins (1963) | Director | Since 2019 | Consultant, LJ Strategies (2019 to present); United States Representative, U.S. House of Representatives (2009 to 2018) | 64 | MGP Ingredients, Inc. (2019 to 2021) | ||||||||||||
Jan M. Lewis (1957) | Director and Board Chair | Since 2011 (Board Chair since 2022) | Retired | 64 | None | ||||||||||||
Stephen E. Yates (1948) | Director | Since 2012 | Retired | 105 | None | ||||||||||||
Interested Director | |||||||||||||||||
Jonathan S. Thomas (1963) | Director | Since 2007 | President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Director, ACC and other ACC subsidiaries | 139 | None |
Name (Year of Birth) | Offices with the Funds | Principal Occupation(s) During the Past Five Years | ||||||
Patrick Bannigan (1965) | President since 2019 | Executive Vice President and Director, ACC (2012 to present); Chief Financial Officer, Chief Accounting Officer and Treasurer, ACC (2015 to present). Also serves as President, ACS; Vice President, ACIM; Chief Financial Officer, Chief Accounting Officer and/or Director, ACIM, ACS and other ACC subsidiaries | ||||||
R. Wes Campbell (1974) | Chief Financial Officer and Treasurer since 2018 | Vice President, ACS, (2020 to present); Investment Operations and Investment Accounting, ACS (2000 to present) | ||||||
Amy D. Shelton (1964) | Chief Compliance Officer and Vice President since 2014 | Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present). Also serves as Vice President, ACIS | ||||||
John Pak (1968) | General Counsel and Senior Vice President since 2021 | General Counsel and Senior Vice President, ACC (2021 to present); Also serves as General Counsel and Senior Vice President, ACIM, ACS and ACIS. Chief Legal Officer of Investment and Wealth Management, The Bank of New York Mellon (2014 to 2021) | ||||||
C. Jean Wade (1964) | Vice President since 2012 | Senior Vice President, ACS (2017 to present); Vice President, ACS (2000 to 2017) | ||||||
Robert J. Leach (1966) | Vice President since 2006 | Vice President, ACS (2000 to present) | ||||||
David H. Reinmiller (1963) | Vice President since 2000 | Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS | ||||||
Ward D. Stauffer (1960) | Secretary since 2005 | Attorney, ACC (2003 to present) |
Approval of Management Agreement |
Liquidity Risk Management Program |
Additional Information |
Contact Us | americancentury.com | |||||||
Automated Information Line | 1-800-345-8765 | |||||||
Investor Services Representative | 1-800-345-2021 or 816-531-5575 | |||||||
Investors Using Advisors | 1-800-378-9878 | |||||||
Business, Not-For-Profit, Employer-Sponsored Retirement Plans | 1-800-345-3533 | |||||||
Banks and Trust Companies, Broker-Dealers, Financial Professionals, Insurance Companies | 1-800-345-6488 | |||||||
Telecommunications Relay Service for the Deaf | 711 | |||||||
American Century Strategic Asset Allocations, Inc. | ||||||||
Investment Advisor: American Century Investment Management, Inc. Kansas City, Missouri | ||||||||
This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. | ||||||||
©2022 American Century Proprietary Holdings, Inc. All rights reserved. CL-ANN-91039 2209 |
Annual Report | |||||
July 31, 2022 | |||||
Strategic Allocation: Moderate Fund | |||||
Investor Class (TWSMX) | |||||
I Class (ASAMX) | |||||
A Class (ACOAX) | |||||
C Class (ASTCX) | |||||
R Class (ASMRX) | |||||
R5 Class (ASMUX) | |||||
R6 Class (ASMDX) |
Table of Contents |
President’s Letter | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Shareholder Fee Example | |||||
Schedule of Investments | |||||
Statement of Assets and Liabilities | |||||
Statement of Operations | |||||
Statement of Changes in Net Assets | |||||
Notes to Financial Statements | |||||
Financial Highlights | |||||
Report of Independent Registered Public Accounting Firm | |||||
Management | |||||
Approval of Management Agreement | |||||
Liquidity Risk Management Program | |||||
Additional Information |
President’s Letter |
Performance |
Total Returns as of July 31, 2022 | ||||||||||||||||||||
Average Annual Returns | ||||||||||||||||||||
Ticker Symbol | 1 year | 5 years | 10 years | Since Inception | Inception Date | |||||||||||||||
Investor Class | TWSMX | -9.97% | 6.50% | 7.29% | — | 2/15/96 | ||||||||||||||
S&P 500 Index | — | -4.64% | 12.82% | 13.79% | — | — | ||||||||||||||
Bloomberg U.S. Aggregate Bond Index | — | -9.12% | 1.28% | 1.65% | — | — | ||||||||||||||
Bloomberg U.S. 1-3 Month Treasury Bill Index | — | 0.26% | 1.05% | 0.60% | — | — | ||||||||||||||
I Class | ASAMX | -9.80% | 6.70% | 7.50% | — | 8/1/00 | ||||||||||||||
A Class | ACOAX | — | 10/2/96 | |||||||||||||||||
No sales charge | -10.26% | 6.22% | 7.01% | — | ||||||||||||||||
With sales charge | -15.42% | 4.97% | 6.38% | — | ||||||||||||||||
C Class | ASTCX | -10.90% | 5.42% | 6.20% | — | 10/2/01 | ||||||||||||||
R Class | ASMRX | -10.56% | 5.93% | 6.74% | — | 8/29/03 | ||||||||||||||
R5 Class | ASMUX | -9.92% | 6.67% | — | 7.19% | 4/10/17 | ||||||||||||||
R6 Class | ASMDX | -9.67% | 6.88% | — | 6.91% | 7/26/13 |
Growth of $10,000 Over 10 Years | ||
$10,000 investment made July 31, 2012 | ||
Performance for other share classes will vary due to differences in fee structure. |
Value on July 31, 2022 | |||||
Investor Class — $20,214 | |||||
S&P 500 Index — $36,428 | |||||
Bloomberg U.S. Aggregate Bond Index — $11,776 | |||||
Bloomberg U.S. 1-3 Month Treasury Bill Index — $10,621 | |||||
Total Annual Fund Operating Expenses | ||||||||||||||||||||
Investor Class | I Class | A Class | C Class | R Class | R5 Class | R6 Class | ||||||||||||||
1.25% | 1.05% | 1.50% | 2.25% | 1.75% | 1.05% | 0.90% |
Portfolio Commentary |
Fund Characteristics |
JULY 31, 2022 | |||||
Types of Investments in Portfolio | % of net assets | ||||
Affiliated Funds | 47.4% | ||||
Common Stocks | 25.7% | ||||
U.S. Treasury Securities | 8.1% | ||||
Corporate Bonds | 3.4% | ||||
Sovereign Governments and Agencies | 2.3% | ||||
Collateralized Loan Obligations | 1.9% | ||||
Asset-Backed Securities | 0.9% | ||||
Commercial Mortgage-Backed Securities | 0.5% | ||||
Collateralized Mortgage Obligations | 0.5% | ||||
Preferred Stocks | 0.4% | ||||
Municipal Securities | 0.2% | ||||
U.S. Government Agency Mortgage-Backed Securities | 0.1% | ||||
Exchange-Traded Funds | 0.1% | ||||
Short-Term Investments | 8.6% | ||||
Other Assets and Liabilities | (0.1)% |
Shareholder Fee Example |
Beginning Account Value 2/1/22 | Ending Account Value 7/31/22 | Expenses Paid During Period(1) 2/1/22 - 7/31/22 | Annualized Expense Ratio(1) | |||||||||||
Actual | ||||||||||||||
Investor Class | $1,000 | $920.30 | $3.33 | 0.70% | ||||||||||
I Class | $1,000 | $921.20 | $2.38 | 0.50% | ||||||||||
A Class | $1,000 | $918.80 | $4.52 | 0.95% | ||||||||||
C Class | $1,000 | $915.00 | $8.07 | 1.70% | ||||||||||
R Class | $1,000 | $916.90 | $5.70 | 1.20% | ||||||||||
R5 Class | $1,000 | $919.80 | $2.38 | 0.50% | ||||||||||
R6 Class | $1,000 | $921.70 | $1.67 | 0.35% | ||||||||||
Hypothetical | ||||||||||||||
Investor Class | $1,000 | $1,021.32 | $3.51 | 0.70% | ||||||||||
I Class | $1,000 | $1,022.32 | $2.51 | 0.50% | ||||||||||
A Class | $1,000 | $1,020.08 | $4.76 | 0.95% | ||||||||||
C Class | $1,000 | $1,016.36 | $8.50 | 1.70% | ||||||||||
R Class | $1,000 | $1,018.84 | $6.01 | 1.20% | ||||||||||
R5 Class | $1,000 | $1,022.32 | $2.51 | 0.50% | ||||||||||
R6 Class | $1,000 | $1,023.06 | $1.76 | 0.35% |
Schedule of Investments |
Shares/ Principal Amount | Value | ||||||||||
AFFILIATED FUNDS(1) — 47.4% | |||||||||||
American Century Diversified Corporate Bond ETF | 541,178 | $ | 25,713,315 | ||||||||
American Century Emerging Markets Bond ETF | 231,939 | 9,031,705 | |||||||||
American Century Focused Dynamic Growth ETF(2) | 354,537 | 21,217,408 | |||||||||
American Century Focused Large Cap Value ETF | 482,891 | 28,423,447 | |||||||||
American Century Multisector Income ETF | 833,121 | 37,377,307 | |||||||||
American Century Quality Diversified International ETF | 699,950 | 28,718,878 | |||||||||
American Century STOXX U.S. Quality Growth ETF | 508,409 | 31,760,310 | |||||||||
American Century STOXX U.S. Quality Value ETF | 854,422 | 41,567,887 | |||||||||
Avantis Emerging Markets Equity ETF | 614,465 | 31,903,023 | |||||||||
Avantis International Equity ETF | 559,736 | 29,929,084 | |||||||||
Avantis International Small Cap Value ETF | 146,458 | 8,198,719 | |||||||||
Avantis U.S. Equity ETF | 694,374 | 49,300,554 | |||||||||
Avantis U.S. Small Cap Value ETF | 236,497 | 17,912,283 | |||||||||
TOTAL AFFILIATED FUNDS (Cost $322,553,773) | 361,053,920 | ||||||||||
COMMON STOCKS — 25.7% | |||||||||||
Aerospace and Defense — 0.4% | |||||||||||
Aerojet Rocketdyne Holdings, Inc.(2) | 2,399 | 104,812 | |||||||||
CAE, Inc.(2) | 18,388 | 486,498 | |||||||||
Curtiss-Wright Corp. | 2,455 | 352,145 | |||||||||
HEICO Corp. | 2,617 | 412,727 | |||||||||
Hensoldt AG | 2,771 | 71,047 | |||||||||
Huntington Ingalls Industries, Inc. | 2,305 | 499,816 | |||||||||
Leonardo SpA | 9,305 | 87,156 | |||||||||
Lockheed Martin Corp. | 1,293 | 535,057 | |||||||||
Mercury Systems, Inc.(2) | 1,993 | 117,607 | |||||||||
QinetiQ Group PLC | 14,141 | 65,859 | |||||||||
Thales SA | 2,983 | 370,965 | |||||||||
3,103,689 | |||||||||||
Air Freight and Logistics — 0.1% | |||||||||||
United Parcel Service, Inc., Class B | 3,064 | 597,143 | |||||||||
Airlines — 0.1% | |||||||||||
Southwest Airlines Co.(2) | 22,298 | 850,000 | |||||||||
Auto Components — 0.5% | |||||||||||
Aptiv PLC(2) | 8,480 | 889,467 | |||||||||
BorgWarner, Inc. | 20,628 | 793,353 | |||||||||
Bridgestone Corp. | 3,600 | 140,421 | |||||||||
CIE Automotive SA(3) | 1,376 | 36,196 | |||||||||
Continental AG | 10,119 | 720,889 | |||||||||
Fox Factory Holding Corp.(2) | 1,089 | 103,085 | |||||||||
Hyundai Mobis Co. Ltd. | 1,898 | 334,061 | |||||||||
Linamar Corp. | 11,356 | 517,718 | |||||||||
Sumitomo Rubber Industries Ltd. | 33,200 | 299,344 | |||||||||
3,834,534 | |||||||||||
Automobiles — 0.4% | |||||||||||
Bayerische Motoren Werke AG | 13,201 | 1,078,698 | |||||||||
Mercedes-Benz Group AG | 18,432 | 1,087,008 |
Shares/ Principal Amount | Value | ||||||||||
Tesla, Inc.(2) | 950 | $ | 846,878 | ||||||||
3,012,584 | |||||||||||
Banks — 1.4% | |||||||||||
AIB Group PLC | 32,827 | 74,670 | |||||||||
Banco Bilbao Vizcaya Argentaria SA | 107,118 | 485,423 | |||||||||
Banco Bradesco SA | 177,263 | 496,765 | |||||||||
Banco de Sabadell SA | 74,359 | 47,609 | |||||||||
Banco do Brasil SA | 80,200 | 560,335 | |||||||||
Bancorp, Inc.(2) | 3,214 | 79,064 | |||||||||
Bank Central Asia Tbk PT | 867,500 | 431,373 | |||||||||
Bank of America Corp. | 4,501 | 152,179 | |||||||||
Barclays PLC | 382,887 | 733,444 | |||||||||
BNP Paribas SA | 12,593 | 594,985 | |||||||||
Commerce Bancshares, Inc. | 319 | 22,167 | |||||||||
First Hawaiian, Inc. | 30,464 | 776,527 | |||||||||
Fukuoka Financial Group, Inc. | 6,000 | 106,348 | |||||||||
HDFC Bank Ltd., ADR | 6,467 | 406,128 | |||||||||
HSBC Holdings PLC | 79,200 | 497,389 | |||||||||
JPMorgan Chase & Co. | 5,536 | 638,633 | |||||||||
Jyske Bank A/S(2) | 1,659 | 86,826 | |||||||||
Mitsubishi UFJ Financial Group, Inc. | 68,500 | 385,963 | |||||||||
Mizuho Financial Group, Inc. | 32,900 | 392,378 | |||||||||
Prosperity Bancshares, Inc. | 10,770 | 797,949 | |||||||||
Regions Financial Corp. | 30,710 | 650,438 | |||||||||
Silvergate Capital Corp., Class A(2) | 905 | 84,428 | |||||||||
Standard Chartered PLC (London) | 61,696 | 425,251 | |||||||||
Sumitomo Mitsui Financial Group, Inc. | 12,200 | 382,740 | |||||||||
Truist Financial Corp. | 16,338 | 824,579 | |||||||||
UniCredit SpA | 44,885 | 443,899 | |||||||||
Westamerica Bancorporation | 5,234 | 314,092 | |||||||||
10,891,582 | |||||||||||
Beverages — 0.2% | |||||||||||
Celsius Holdings, Inc.(2) | 5,923 | 526,910 | |||||||||
Duckhorn Portfolio, Inc.(2) | 5,048 | 92,580 | |||||||||
MGP Ingredients, Inc. | 1,602 | 168,498 | |||||||||
PepsiCo, Inc. | 4,610 | 806,566 | |||||||||
Pernod Ricard SA | 1,070 | 210,195 | |||||||||
Royal Unibrew A/S | 1,000 | 85,284 | |||||||||
1,890,033 | |||||||||||
Biotechnology — 0.7% | |||||||||||
AbbVie, Inc. | 3,907 | 560,694 | |||||||||
ADC Therapeutics SA(2)(3) | 3,502 | 25,950 | |||||||||
Alnylam Pharmaceuticals, Inc.(2) | 1,159 | 164,624 | |||||||||
Amgen, Inc. | 777 | 192,284 | |||||||||
Arcus Biosciences, Inc.(2) | 861 | 22,894 | |||||||||
Arcutis Biotherapeutics, Inc.(2) | 4,178 | 101,358 | |||||||||
Biohaven Pharmaceutical Holding Co. Ltd.(2) | 1,506 | 219,906 | |||||||||
Blueprint Medicines Corp.(2) | 1,482 | 75,671 | |||||||||
Bridgebio Pharma, Inc.(2) | 2,572 | 22,274 | |||||||||
Celldex Therapeutics, Inc.(2) | 1,527 | 46,909 | |||||||||
Centessa Pharmaceuticals PLC, ADR(2)(3) | 4,168 | 18,006 |
Shares/ Principal Amount | Value | ||||||||||
CSL Ltd. | 2,973 | $ | 605,353 | ||||||||
Cytokinetics, Inc.(2) | 3,203 | 135,583 | |||||||||
Erasca, Inc.(2)(3) | 2,592 | 19,544 | |||||||||
Fate Therapeutics, Inc.(2)(3) | 1,731 | 52,847 | |||||||||
Global Blood Therapeutics, Inc.(2) | 3,007 | 98,389 | |||||||||
Halozyme Therapeutics, Inc.(2) | 3,980 | 194,622 | |||||||||
Horizon Therapeutics PLC(2) | 5,772 | 478,903 | |||||||||
Insmed, Inc.(2) | 4,752 | 105,114 | |||||||||
Intellia Therapeutics, Inc.(2) | 603 | 39,050 | |||||||||
Iovance Biotherapeutics, Inc.(2) | 1,293 | 15,063 | |||||||||
KalVista Pharmaceuticals, Inc.(2) | 3,850 | 47,548 | |||||||||
Karuna Therapeutics, Inc.(2) | 489 | 63,692 | |||||||||
Kinnate Biopharma, Inc.(2)(3) | 2,613 | 27,959 | |||||||||
Kymera Therapeutics, Inc.(2) | 1,679 | 36,988 | |||||||||
Natera, Inc.(2) | 2,478 | 116,466 | |||||||||
Neurocrine Biosciences, Inc.(2) | 5,974 | 562,333 | |||||||||
Relay Therapeutics, Inc.(2) | 1,765 | 33,570 | |||||||||
Sarepta Therapeutics, Inc.(2) | 7,112 | 661,060 | |||||||||
Seagen, Inc.(2) | 3,126 | 562,618 | |||||||||
Vertex Pharmaceuticals, Inc.(2) | 743 | 208,345 | |||||||||
Vitrolife AB | 1,418 | 46,263 | |||||||||
5,561,880 | |||||||||||
Building Products — 0.3% | |||||||||||
Cie de Saint-Gobain | 9,665 | 450,677 | |||||||||
Hayward Holdings, Inc.(2) | 9,087 | 106,045 | |||||||||
Johnson Controls International PLC | 9,206 | 496,296 | |||||||||
Masco Corp. | 4,670 | 258,625 | |||||||||
Masonite International Corp.(2) | 838 | 76,283 | |||||||||
Sanwa Holdings Corp. | 7,000 | 75,618 | |||||||||
Trane Technologies PLC | 3,873 | 569,292 | |||||||||
Trex Co., Inc.(2) | 1,184 | 76,392 | |||||||||
Zurn Elkay Water Solutions Corp. | 9,311 | 269,553 | |||||||||
2,378,781 | |||||||||||
Capital Markets — 1.1% | |||||||||||
Ameriprise Financial, Inc. | 3,491 | 942,291 | |||||||||
Ares Management Corp., Class A | 3,401 | 243,682 | |||||||||
Bank of New York Mellon Corp. | 27,425 | 1,191,891 | |||||||||
BlackRock, Inc. | 673 | 450,358 | |||||||||
Intercontinental Exchange, Inc. | 1,951 | 198,982 | |||||||||
LPL Financial Holdings, Inc. | 4,460 | 936,243 | |||||||||
Morgan Stanley | 8,811 | 742,767 | |||||||||
MSCI, Inc. | 1,236 | 594,936 | |||||||||
Northern Trust Corp. | 12,798 | 1,276,984 | |||||||||
Open Lending Corp., Class A(2) | 4,810 | 49,832 | |||||||||
S&P Global, Inc. | 1,429 | 538,633 | |||||||||
State Street Corp. | 2,492 | 177,032 | |||||||||
T. Rowe Price Group, Inc. | 7,146 | 882,317 | |||||||||
8,225,948 | |||||||||||
Chemicals — 0.6% | |||||||||||
Air Liquide SA | 2,543 | 349,618 | |||||||||
Air Products and Chemicals, Inc. | 858 | 212,981 |
Shares/ Principal Amount | Value | ||||||||||
Akzo Nobel NV | 6,084 | $ | 409,456 | ||||||||
Albemarle Corp. | 414 | 101,144 | |||||||||
Avient Corp. | 6,063 | 261,618 | |||||||||
Axalta Coating Systems Ltd.(2) | 16,275 | 410,455 | |||||||||
Diversey Holdings Ltd.(2) | 20,540 | 153,845 | |||||||||
Ecolab, Inc. | 1,342 | 221,658 | |||||||||
Element Solutions, Inc. | 21,947 | 433,673 | |||||||||
K+S AG | 899 | 18,956 | |||||||||
Koninklijke DSM NV | 3,019 | 483,490 | |||||||||
Linde PLC | 2,055 | 620,610 | |||||||||
OCI NV | 622 | 21,594 | |||||||||
Sherwin-Williams Co. | 406 | 98,228 | |||||||||
Sika AG | 1,060 | 261,913 | |||||||||
Symrise AG | 3,799 | 443,289 | |||||||||
Tokyo Ohka Kogyo Co. Ltd. | 700 | 36,295 | |||||||||
4,538,823 | |||||||||||
Commercial Services and Supplies — 0.2% | |||||||||||
Brink's Co. | 2,593 | 147,645 | |||||||||
Clean Harbors, Inc.(2) | 1,689 | 164,830 | |||||||||
Cleanaway Waste Management Ltd. | 14,263 | 27,478 | |||||||||
Driven Brands Holdings, Inc.(2) | 8,323 | 252,853 | |||||||||
Elis SA | 5,284 | 78,868 | |||||||||
GFL Environmental, Inc. | 13,114 | 362,602 | |||||||||
Republic Services, Inc. | 1,708 | 236,831 | |||||||||
SPIE SA | 3,274 | 78,625 | |||||||||
1,349,732 | |||||||||||
Communications Equipment — 0.4% | |||||||||||
Arista Networks, Inc.(2) | 8,509 | 992,404 | |||||||||
Cisco Systems, Inc. | 19,127 | 867,792 | |||||||||
F5, Inc.(2) | 6,138 | 1,027,256 | |||||||||
Juniper Networks, Inc. | 5,472 | 153,380 | |||||||||
3,040,832 | |||||||||||
Construction and Engineering — 0.2% | |||||||||||
Arcadis NV | 1,203 | 44,482 | |||||||||
Construction Partners, Inc., Class A(2) | 7,019 | 166,912 | |||||||||
Eiffage SA | 4,612 | 432,785 | |||||||||
Hazama Ando Corp. | 13,100 | 88,186 | |||||||||
SHO-BOND Holdings Co. Ltd. | 1,600 | 70,791 | |||||||||
Vinci SA | 3,413 | 327,166 | |||||||||
1,130,322 | |||||||||||
Construction Materials† | |||||||||||
Eagle Materials, Inc. | 683 | 86,365 | |||||||||
Summit Materials, Inc., Class A(2) | 4,642 | 127,702 | |||||||||
214,067 | |||||||||||
Consumer Finance† | |||||||||||
American Express Co. | 1,626 | 250,437 | |||||||||
Containers and Packaging — 0.3% | |||||||||||
Amcor PLC | 8,940 | 115,773 | |||||||||
AptarGroup, Inc. | 849 | 91,488 | |||||||||
Avery Dennison Corp. | 2,389 | 455,009 | |||||||||
Ball Corp. | 4,696 | 344,780 |
Shares/ Principal Amount | Value | ||||||||||
Graphic Packaging Holding Co. | 5,900 | $ | 131,275 | ||||||||
Huhtamaki Oyj | 2,613 | 101,851 | |||||||||
Packaging Corp. of America | 4,579 | 643,853 | |||||||||
SIG Group AG(2) | 3,947 | 102,971 | |||||||||
Sonoco Products Co. | 7,169 | 455,160 | |||||||||
2,442,160 | |||||||||||
Distributors† | |||||||||||
D'ieteren Group | 733 | 120,304 | |||||||||
Diversified Consumer Services† | |||||||||||
European Wax Center, Inc., Class A | 6,064 | 126,859 | |||||||||
IDP Education Ltd. | 3,493 | 70,279 | |||||||||
197,138 | |||||||||||
Diversified Financial Services† | |||||||||||
Zenkoku Hosho Co. Ltd. | 1,600 | 54,434 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
Cellnex Telecom SA | 7,598 | 339,851 | |||||||||
IHS Holding Ltd.(2) | 3,001 | 25,839 | |||||||||
Internet Initiative Japan, Inc. | 1,800 | 73,087 | |||||||||
Verizon Communications, Inc. | 12,393 | 572,433 | |||||||||
1,011,210 | |||||||||||
Electric Utilities — 0.5% | |||||||||||
Acciona SA(3) | 514 | 105,766 | |||||||||
Contact Energy Ltd. | 5,639 | 27,203 | |||||||||
Edison International | 15,578 | 1,055,721 | |||||||||
Evergy, Inc. | 2,141 | 146,145 | |||||||||
Eversource Energy | 2,254 | 198,848 | |||||||||
Iberdrola SA | 51,634 | 551,372 | |||||||||
IDACORP, Inc. | 720 | 80,438 | |||||||||
NextEra Energy, Inc. | 11,962 | 1,010,669 | |||||||||
Pinnacle West Capital Corp. | 7,452 | 547,499 | |||||||||
3,723,661 | |||||||||||
Electrical Equipment — 0.8% | |||||||||||
AMETEK, Inc. | 4,959 | 612,437 | |||||||||
Atkore, Inc.(2) | 2,547 | 252,841 | |||||||||
Eaton Corp. PLC | 2,466 | 365,930 | |||||||||
Emerson Electric Co. | 12,063 | 1,086,514 | |||||||||
Generac Holdings, Inc.(2) | 1,560 | 418,548 | |||||||||
Hexatronic Group AB(3) | 8,883 | 107,758 | |||||||||
Hubbell, Inc. | 918 | 201,060 | |||||||||
Nexans SA | 795 | 76,355 | |||||||||
nVent Electric PLC | 32,716 | 1,155,202 | |||||||||
Plug Power, Inc.(2)(3) | 6,154 | 131,326 | |||||||||
Regal Rexnord Corp. | 3,565 | 478,780 | |||||||||
Rockwell Automation, Inc. | 1,432 | 365,561 | |||||||||
Schneider Electric SE | 4,741 | 655,698 | |||||||||
Sensata Technologies Holding PLC | 2,965 | 131,854 | |||||||||
Ushio, Inc. | 5,100 | 70,513 | |||||||||
6,110,377 | |||||||||||
Electronic Equipment, Instruments and Components — 0.5% | |||||||||||
CDW Corp. | 2,577 | 467,803 | |||||||||
Cognex Corp. | 12,210 | 622,466 |
Shares/ Principal Amount | Value | ||||||||||
Hexagon AB, B Shares | 25,290 | $ | 297,778 | ||||||||
Jabil, Inc. | 2,174 | 129,005 | |||||||||
Keyence Corp. | 1,100 | 435,976 | |||||||||
Keysight Technologies, Inc.(2) | 7,568 | 1,230,557 | |||||||||
National Instruments Corp. | 3,379 | 128,402 | |||||||||
Sesa SpA | 246 | 34,917 | |||||||||
TE Connectivity Ltd. | 3,881 | 519,006 | |||||||||
3,865,910 | |||||||||||
Energy Equipment and Services — 0.2% | |||||||||||
Aker Solutions ASA | 24,425 | 75,708 | |||||||||
Baker Hughes Co. | 15,576 | 400,147 | |||||||||
Schlumberger NV | 24,859 | 920,529 | |||||||||
Worley Ltd. | 6,172 | 62,290 | |||||||||
1,458,674 | |||||||||||
Entertainment — 0.2% | |||||||||||
CTS Eventim AG & Co. KGaA(2) | 180 | 9,915 | |||||||||
Electronic Arts, Inc. | 1,623 | 212,986 | |||||||||
Live Nation Entertainment, Inc.(2) | 3,158 | 296,820 | |||||||||
ROBLOX Corp., Class A(2) | 2,177 | 93,459 | |||||||||
Roku, Inc.(2) | 2,029 | 132,940 | |||||||||
Universal Music Group NV | 19,307 | 437,043 | |||||||||
Walt Disney Co.(2) | 3,625 | 384,613 | |||||||||
1,567,776 | |||||||||||
Equity Real Estate Investment Trusts (REITs) — 1.5% | |||||||||||
Agree Realty Corp. | 2,326 | 185,126 | |||||||||
Alexandria Real Estate Equities, Inc. | 695 | 115,217 | |||||||||
American Homes 4 Rent, Class A | 2,044 | 77,427 | |||||||||
American Tower Corp. | 269 | 72,853 | |||||||||
Americold Realty Trust, Inc. | 2,950 | 96,613 | |||||||||
Arena REIT | 9,435 | 32,029 | |||||||||
AvalonBay Communities, Inc. | 539 | 115,314 | |||||||||
Big Yellow Group PLC | 1,454 | 25,222 | |||||||||
Camden Property Trust | 1,215 | 171,437 | |||||||||
CapitaLand Integrated Commercial Trust | 34,200 | 54,026 | |||||||||
Comforia Residential REIT, Inc.(3) | 30 | 75,773 | |||||||||
Corporate Office Properties Trust | 1,741 | 49,009 | |||||||||
Digital Realty Trust, Inc. | 1,171 | 155,099 | |||||||||
Dream Industrial Real Estate Investment Trust | 2,253 | 22,204 | |||||||||
Duke Realty Corp. | 1,527 | 95,529 | |||||||||
Embassy Office Parks REIT | 5,991 | 27,543 | |||||||||
Equinix, Inc. | 1,319 | 928,233 | |||||||||
Equity LifeStyle Properties, Inc. | 1,504 | 110,574 | |||||||||
Essential Properties Realty Trust, Inc. | 3,239 | 78,125 | |||||||||
Essex Property Trust, Inc. | 1,702 | 487,674 | |||||||||
GLP J-Reit | 41 | 53,921 | |||||||||
Goodman Group | 8,360 | 122,349 | |||||||||
Healthcare Realty Trust, Inc., Class A | 13,938 | 365,873 | |||||||||
Healthpeak Properties, Inc. | 27,659 | 764,218 | |||||||||
Host Hotels & Resorts, Inc. | 5,614 | 99,985 | |||||||||
Invincible Investment Corp. | 352 | 110,733 | |||||||||
Invitation Homes, Inc. | 3,401 | 132,741 |
Shares/ Principal Amount | Value | ||||||||||
Iron Mountain, Inc. | 1,739 | $ | 84,324 | ||||||||
Japan Hotel REIT Investment Corp. | 273 | 141,675 | |||||||||
Kimco Realty Corp. | 6,265 | 138,519 | |||||||||
Kite Realty Group Trust | 6,521 | 129,703 | |||||||||
Life Storage, Inc. | 623 | 78,429 | |||||||||
Link REIT | 13,300 | 111,379 | |||||||||
NETSTREIT Corp. | 3,400 | 69,700 | |||||||||
Orix JREIT, Inc. | 46 | 65,995 | |||||||||
Prologis, Inc. | 12,289 | 1,629,030 | |||||||||
Public Storage | 811 | 264,719 | |||||||||
Realty Income Corp. | 8,973 | 663,912 | |||||||||
Regency Centers Corp. | 10,224 | 658,732 | |||||||||
Rexford Industrial Realty, Inc. | 6,795 | 444,461 | |||||||||
Ryman Hospitality Properties, Inc.(2) | 2,299 | 203,553 | |||||||||
Sabra Health Care REIT, Inc. | 2,972 | 45,739 | |||||||||
Scentre Group | 22,137 | 45,364 | |||||||||
Segro PLC | 33,163 | 443,654 | |||||||||
Shaftesbury PLC(3) | 4,794 | 29,417 | |||||||||
Shopping Centres Australasia Property Group | 16,297 | 34,011 | |||||||||
SOSiLA Logistics REIT, Inc. | 51 | 58,899 | |||||||||
Suntec Real Estate Investment Trust | 13,700 | 16,001 | |||||||||
Tritax Big Box REIT PLC | 35,181 | 84,643 | |||||||||
UDR, Inc. | 2,984 | 144,426 | |||||||||
Ventas, Inc. | 2,139 | 115,035 | |||||||||
VICI Properties, Inc. | 7,968 | 272,426 | |||||||||
Vicinity Centres | 55,108 | 80,634 | |||||||||
Welltower, Inc. | 2,739 | 236,485 | |||||||||
Weyerhaeuser Co. | 4,272 | 155,159 | |||||||||
11,070,871 | |||||||||||
Food and Staples Retailing — 0.4% | |||||||||||
Axfood AB | 1,293 | 41,051 | |||||||||
BJ's Wholesale Club Holdings, Inc.(2) | 2,395 | 162,141 | |||||||||
Costco Wholesale Corp. | 631 | 341,560 | |||||||||
Grocery Outlet Holding Corp.(2) | 2,066 | 88,260 | |||||||||
Kobe Bussan Co. Ltd. | 13,700 | 390,521 | |||||||||
Koninklijke Ahold Delhaize NV | 31,824 | 876,392 | |||||||||
Kroger Co. | 3,828 | 177,772 | |||||||||
MARR SpA | 2,364 | 32,718 | |||||||||
MatsukiyoCocokara & Co. | 2,500 | 94,389 | |||||||||
Metcash Ltd. | 6,405 | 18,670 | |||||||||
Sysco Corp. | 7,023 | 596,253 | |||||||||
2,819,727 | |||||||||||
Food Products — 0.5% | |||||||||||
Bakkafrost P/F | 698 | 48,662 | |||||||||
Conagra Brands, Inc. | 27,404 | 937,491 | |||||||||
Freshpet, Inc.(2) | 1,936 | 103,460 | |||||||||
General Mills, Inc. | 1,656 | 123,852 | |||||||||
Hershey Co. | 4,364 | 994,817 | |||||||||
J.M. Smucker Co. | 3,338 | 441,684 | |||||||||
Kellogg Co. | 1,902 | 140,596 | |||||||||
Mondelez International, Inc., Class A | 6,178 | 395,639 |
Shares/ Principal Amount | Value | ||||||||||
Orkla ASA | 28,787 | $ | 248,497 | ||||||||
Sovos Brands, Inc.(2) | 7,283 | 103,127 | |||||||||
Tate & Lyle PLC | 6,822 | 66,831 | |||||||||
Toyo Suisan Kaisha Ltd. | 2,500 | 106,220 | |||||||||
Vital Farms, Inc.(2) | 2,184 | 25,771 | |||||||||
3,736,647 | |||||||||||
Gas Utilities — 0.2% | |||||||||||
Atmos Energy Corp. | 1,170 | 142,027 | |||||||||
Brookfield Infrastructure Corp., Class A(3) | 1,807 | 82,779 | |||||||||
Italgas SpA | 5,737 | 32,820 | |||||||||
Nippon Gas Co. Ltd. | 6,500 | 97,594 | |||||||||
Spire, Inc. | 10,901 | 820,191 | |||||||||
1,175,411 | |||||||||||
Health Care Equipment and Supplies — 0.8% | |||||||||||
Alcon, Inc. | 6,542 | 514,882 | |||||||||
Baxter International, Inc. | 4,002 | 234,757 | |||||||||
Becton Dickinson and Co. | 971 | 237,225 | |||||||||
CryoPort, Inc.(2) | 3,208 | 119,337 | |||||||||
DENTSPLY SIRONA, Inc. | 8,739 | 316,002 | |||||||||
DexCom, Inc.(2) | 5,964 | 489,525 | |||||||||
Edwards Lifesciences Corp.(2) | 4,666 | 469,120 | |||||||||
Embecta Corp.(2) | 10,882 | 320,257 | |||||||||
Establishment Labs Holdings, Inc.(2)(3) | 1,465 | 86,860 | |||||||||
IDEXX Laboratories, Inc.(2) | 1,737 | 693,376 | |||||||||
Inari Medical, Inc.(2) | 2,398 | 186,037 | |||||||||
Inmode Ltd.(2) | 1,657 | 55,079 | |||||||||
Jeol Ltd. | 1,700 | 77,291 | |||||||||
Koninklijke Philips NV, NY Shares | 9,327 | 193,442 | |||||||||
Medtronic PLC | 1,079 | 99,829 | |||||||||
Menicon Co. Ltd. | 2,400 | 60,519 | |||||||||
NeuroPace, Inc.(2)(3) | 4,545 | 26,634 | |||||||||
ResMed, Inc. | 466 | 112,082 | |||||||||
SI-BONE, Inc.(2) | 6,429 | 86,406 | |||||||||
Silk Road Medical, Inc.(2) | 4,379 | 199,288 | |||||||||
Tandem Diabetes Care, Inc.(2) | 2,090 | 138,379 | |||||||||
Zimmer Biomet Holdings, Inc. | 13,836 | 1,527,356 | |||||||||
6,243,683 | |||||||||||
Health Care Providers and Services — 1.0% | |||||||||||
Alfresa Holdings Corp. | 1,813 | 24,196 | |||||||||
Amedisys, Inc.(2) | 2,615 | 313,408 | |||||||||
AmerisourceBergen Corp. | 3,893 | 568,105 | |||||||||
Amvis Holdings, Inc.(3) | 2,000 | 70,527 | |||||||||
Cardinal Health, Inc. | 5,609 | 334,072 | |||||||||
Chartwell Retirement Residences | 6,917 | 61,470 | |||||||||
Cigna Corp. | 2,681 | 738,240 | |||||||||
CVS Health Corp. | 5,622 | 537,913 | |||||||||
Encompass Health Corp. | 1,677 | 84,890 | |||||||||
Enhabit, Inc.(2) | 838 | 14,673 | |||||||||
Ensign Group, Inc. | 1,724 | 137,385 | |||||||||
HealthEquity, Inc.(2) | 2,113 | 122,913 | |||||||||
Henry Schein, Inc.(2) | 10,377 | 818,019 |
Shares/ Principal Amount | Value | ||||||||||
Humana, Inc. | 540 | $ | 260,280 | ||||||||
Progyny, Inc.(2) | 2,479 | 75,684 | |||||||||
Quest Diagnostics, Inc. | 6,947 | 948,752 | |||||||||
R1 RCM, Inc.(2) | 17,039 | 425,975 | |||||||||
Signify Health, Inc., Class A(2)(3) | 4,511 | 77,183 | |||||||||
Tenet Healthcare Corp.(2) | 1,749 | 115,644 | |||||||||
UnitedHealth Group, Inc. | 1,659 | 899,742 | |||||||||
Universal Health Services, Inc., Class B | 7,129 | 801,799 | |||||||||
7,430,870 | |||||||||||
Health Care Technology — 0.1% | |||||||||||
Health Catalyst, Inc.(2) | 6,082 | 101,813 | |||||||||
OptimizeRx Corp.(2) | 3,439 | 77,274 | |||||||||
Schrodinger, Inc.(2) | 3,176 | 99,409 | |||||||||
Veeva Systems, Inc., Class A(2) | 2,820 | 630,495 | |||||||||
908,991 | |||||||||||
Hotels, Restaurants and Leisure — 0.7% | |||||||||||
Airbnb, Inc., Class A(2) | 4,878 | 541,360 | |||||||||
Basic-Fit NV(2)(3) | 1,794 | 72,760 | |||||||||
Booking Holdings, Inc.(2) | 155 | 300,032 | |||||||||
Chipotle Mexican Grill, Inc.(2) | 662 | 1,035,514 | |||||||||
Churchill Downs, Inc. | 916 | 192,177 | |||||||||
Compass Group PLC | 19,102 | 447,683 | |||||||||
Corporate Travel Management Ltd.(2) | 4,932 | 65,771 | |||||||||
Cracker Barrel Old Country Store, Inc.(3) | 1,280 | 121,690 | |||||||||
Expedia Group, Inc.(2) | 1,250 | 132,562 | |||||||||
Greggs PLC | 1,071 | 26,702 | |||||||||
Hilton Worldwide Holdings, Inc. | 7,598 | 973,076 | |||||||||
Planet Fitness, Inc., Class A(2) | 2,827 | 222,796 | |||||||||
Scandic Hotels Group AB(2)(3) | 15,327 | 62,766 | |||||||||
SeaWorld Entertainment, Inc.(2) | 2,245 | 107,154 | |||||||||
Sodexo SA | 6,262 | 508,810 | |||||||||
Wingstop, Inc. | 1,625 | 205,042 | |||||||||
Wyndham Hotels & Resorts, Inc. | 1,645 | 114,179 | |||||||||
5,130,074 | |||||||||||
Household Durables — 0.1% | |||||||||||
Electrolux AB, B Shares | 26,587 | 383,486 | |||||||||
Open House Group Co. Ltd. | 1,000 | 43,625 | |||||||||
Taylor Wimpey PLC | 345,906 | 538,396 | |||||||||
Token Corp. | 1,200 | 80,141 | |||||||||
1,045,648 | |||||||||||
Household Products — 0.2% | |||||||||||
Colgate-Palmolive Co. | 2,988 | 235,275 | |||||||||
Henkel AG & Co. KGaA, Preference Shares | 4,602 | 293,991 | |||||||||
Kimberly-Clark Corp. | 5,342 | 704,022 | |||||||||
Procter & Gamble Co. | 3,943 | 547,722 | |||||||||
1,781,010 | |||||||||||
Independent Power and Renewable Electricity Producers† | |||||||||||
West Holdings Corp. | 1,900 | 58,524 | |||||||||
Industrial Conglomerates — 0.1% | |||||||||||
Honeywell International, Inc. | 2,246 | 432,265 |
Shares/ Principal Amount | Value | ||||||||||
Insurance — 0.7% | |||||||||||
Aegon NV | 61,705 | $ | 271,021 | ||||||||
Aflac, Inc. | 10,950 | 627,435 | |||||||||
Allstate Corp. | 7,835 | 916,460 | |||||||||
ASR Nederland NV | 3,061 | 127,942 | |||||||||
Chubb Ltd. | 1,290 | 243,345 | |||||||||
Goosehead Insurance, Inc., Class A(3) | 2,063 | 115,961 | |||||||||
Hanover Insurance Group, Inc. | 2,965 | 404,633 | |||||||||
Kinsale Capital Group, Inc. | 808 | 196,514 | |||||||||
Marsh & McLennan Cos., Inc. | 2,045 | 335,298 | |||||||||
Prudential Financial, Inc. | 3,531 | 353,065 | |||||||||
Reinsurance Group of America, Inc. | 6,710 | 776,884 | |||||||||
RLI Corp. | 1,316 | 144,734 | |||||||||
Selective Insurance Group, Inc. | 915 | 71,242 | |||||||||
Steadfast Group Ltd. | 11,914 | 44,666 | |||||||||
Storebrand ASA | 12,925 | 108,713 | |||||||||
Travelers Cos., Inc. | 2,004 | 318,035 | |||||||||
Unipol Gruppo SpA | 10,015 | 42,010 | |||||||||
5,097,958 | |||||||||||
Interactive Media and Services — 0.6% | |||||||||||
Alphabet, Inc., Class A(2) | 20,940 | 2,435,741 | |||||||||
Autohome, Inc., ADR | 8,637 | 308,254 | |||||||||
Baidu, Inc., Class A(2) | 32,700 | 565,200 | |||||||||
Cargurus, Inc.(2) | 4,863 | 118,122 | |||||||||
carsales.com Ltd. | 1,425 | 20,774 | |||||||||
Eventbrite, Inc., Class A(2) | 9,890 | 92,570 | |||||||||
Match Group, Inc.(2) | 6,696 | 490,884 | |||||||||
QuinStreet, Inc.(2) | 7,433 | 79,905 | |||||||||
Tencent Holdings Ltd. | 14,200 | 548,813 | |||||||||
4,660,263 | |||||||||||
Internet and Direct Marketing Retail — 0.4% | |||||||||||
Alibaba Group Holding Ltd.(2) | 47,100 | 529,567 | |||||||||
Amazon.com, Inc.(2) | 11,900 | 1,605,905 | |||||||||
ASOS PLC(2) | 17,846 | 227,127 | |||||||||
Chewy, Inc., Class A(2)(3) | 4,991 | 193,701 | |||||||||
Etsy, Inc.(2) | 1,198 | 124,257 | |||||||||
JD.com, Inc., Class A | 11,428 | 340,926 | |||||||||
3,021,483 | |||||||||||
IT Services — 0.7% | |||||||||||
Accenture PLC, Class A | 1,925 | 589,551 | |||||||||
Adyen NV(2) | 236 | 424,510 | |||||||||
Alten SA | 139 | 18,826 | |||||||||
Amdocs Ltd. | 4,631 | 403,175 | |||||||||
Capgemini SE | 2,609 | 497,632 | |||||||||
Capita PLC(2) | 171,107 | 60,082 | |||||||||
Cloudflare, Inc., Class A(2) | 5,159 | 259,601 | |||||||||
Endava PLC, ADR(2) | 634 | 64,668 | |||||||||
EPAM Systems, Inc.(2) | 1,506 | 525,971 | |||||||||
Euronet Worldwide, Inc.(2) | 1,201 | 118,022 | |||||||||
Indra Sistemas SA | 20,732 | 189,650 | |||||||||
Mastercard, Inc., Class A | 1,712 | 605,688 |
Shares/ Principal Amount | Value | ||||||||||
NEXTDC Ltd.(2) | 14,864 | $ | 123,736 | ||||||||
Okta, Inc.(2) | 1,177 | 115,876 | |||||||||
Perficient, Inc.(2) | 1,568 | 165,455 | |||||||||
SCSK Corp. | 3,800 | 66,919 | |||||||||
Switch, Inc., Class A | 4,792 | 162,018 | |||||||||
TDCX, Inc., ADR(2) | 3,324 | 26,127 | |||||||||
Thoughtworks Holding, Inc.(2) | 6,250 | 97,875 | |||||||||
Visa, Inc., Class A | 4,194 | 889,589 | |||||||||
5,404,971 | |||||||||||
Leisure Products — 0.1% | |||||||||||
Brunswick Corp. | 1,767 | 141,572 | |||||||||
Callaway Golf Co.(2) | 6,686 | 153,444 | |||||||||
MIPS AB | 322 | 17,227 | |||||||||
Polaris, Inc. | 1,863 | 218,492 | |||||||||
530,735 | |||||||||||
Life Sciences Tools and Services — 0.6% | |||||||||||
Agilent Technologies, Inc. | 6,289 | 843,355 | |||||||||
Bio-Techne Corp. | 1,216 | 468,500 | |||||||||
ICON PLC(2) | 2,518 | 607,467 | |||||||||
IQVIA Holdings, Inc.(2) | 2,582 | 620,377 | |||||||||
Lonza Group AG | 905 | 550,015 | |||||||||
MaxCyte, Inc.(2)(3) | 12,457 | 67,891 | |||||||||
Mettler-Toledo International, Inc.(2) | 356 | 480,504 | |||||||||
Thermo Fisher Scientific, Inc. | 965 | 577,466 | |||||||||
4,215,575 | |||||||||||
Machinery — 0.6% | |||||||||||
AGCO Corp. | 826 | 89,968 | |||||||||
Astec Industries, Inc. | 2,896 | 142,280 | |||||||||
ATS Automation Tooling Systems, Inc.(2) | 4,484 | 141,991 | |||||||||
Cummins, Inc. | 4,220 | 933,928 | |||||||||
Deere & Co. | 550 | 188,749 | |||||||||
Graco, Inc. | 5,266 | 353,665 | |||||||||
IHI Corp. | 2,500 | 65,919 | |||||||||
IMI PLC | 15,950 | 260,448 | |||||||||
John Bean Technologies Corp. | 1,515 | 170,150 | |||||||||
Metso Outotec Oyj | 6,566 | 54,279 | |||||||||
Mueller Water Products, Inc., Class A | 10,587 | 137,843 | |||||||||
Oshkosh Corp. | 9,612 | 827,593 | |||||||||
PACCAR, Inc. | 2,392 | 218,916 | |||||||||
Parker-Hannifin Corp. | 2,145 | 620,098 | |||||||||
Stanley Black & Decker, Inc. | 1,918 | 186,679 | |||||||||
Trelleborg AB, B Shares | 2,312 | 56,807 | |||||||||
Xylem, Inc. | 2,348 | 216,086 | |||||||||
4,665,399 | |||||||||||
Media — 0.3% | |||||||||||
Comcast Corp., Class A | 4,969 | 186,437 | |||||||||
Fox Corp., Class B | 22,641 | 699,607 | |||||||||
Publicis Groupe SA | 8,884 | 472,765 | |||||||||
WPP PLC | 57,633 | 621,997 | |||||||||
1,980,806 |
Shares/ Principal Amount | Value | ||||||||||
Metals and Mining — 0.1% | |||||||||||
AMG Advanced Metallurgical Group NV | 1,616 | $ | 45,364 | ||||||||
ERO Copper Corp.(2) | 36,690 | 363,018 | |||||||||
IGO Ltd. | 6,353 | 49,781 | |||||||||
Lynas Rare Earths Ltd.(2) | 9,362 | 57,570 | |||||||||
MMC Norilsk Nickel PJSC(4) | 2,658 | — | |||||||||
OZ Minerals Ltd. | 2,712 | 36,219 | |||||||||
SSR Mining, Inc. (NASDAQ) | 3,943 | 64,902 | |||||||||
616,854 | |||||||||||
Mortgage Real Estate Investment Trusts (REITs)† | |||||||||||
AGNC Investment Corp. | 2,127 | 26,821 | |||||||||
Multi-Utilities — 0.1% | |||||||||||
NorthWestern Corp. | 11,460 | 635,457 | |||||||||
Multiline Retail — 0.2% | |||||||||||
Dollar Tree, Inc.(2) | 5,287 | 874,258 | |||||||||
Ollie's Bargain Outlet Holdings, Inc.(2) | 1,964 | 115,778 | |||||||||
Target Corp. | 1,194 | 195,076 | |||||||||
1,185,112 | |||||||||||
Oil, Gas and Consumable Fuels — 0.6% | |||||||||||
ConocoPhillips | 10,350 | 1,008,400 | |||||||||
Devon Energy Corp. | 8,019 | 503,994 | |||||||||
Diamondback Energy, Inc. | 2,034 | 260,393 | |||||||||
Enterprise Products Partners LP | 22,600 | 604,098 | |||||||||
Euronav NV | 5,173 | 70,631 | |||||||||
Excelerate Energy, Inc., Class A(2) | 6,418 | 142,095 | |||||||||
Hess Corp. | 4,786 | 538,281 | |||||||||
Kosmos Energy Ltd.(2) | 40,825 | 258,830 | |||||||||
Matador Resources Co. | 5,061 | 292,425 | |||||||||
Phillips 66 | 4,601 | 409,489 | |||||||||
Pioneer Natural Resources Co. | 1,349 | 319,646 | |||||||||
Whitecap Resources, Inc.(3) | 50,148 | 383,389 | |||||||||
4,791,671 | |||||||||||
Paper and Forest Products† | |||||||||||
Holmen AB, B Shares | 722 | 29,668 | |||||||||
Mondi PLC | 14,442 | 274,069 | |||||||||
303,737 | |||||||||||
Personal Products — 0.1% | |||||||||||
Estee Lauder Cos., Inc., Class A | 804 | 219,572 | |||||||||
Medifast, Inc. | 840 | 141,280 | |||||||||
Rohto Pharmaceutical Co. Ltd. | 3,200 | 95,916 | |||||||||
456,768 | |||||||||||
Pharmaceuticals — 1.0% | |||||||||||
ALK-Abello A/S(2) | 2,854 | 56,982 | |||||||||
Arvinas, Inc.(2) | 1,211 | 64,316 | |||||||||
AstraZeneca PLC | 5,503 | 723,871 | |||||||||
AstraZeneca PLC, ADR | 12,889 | 853,639 | |||||||||
Bristol-Myers Squibb Co. | 8,380 | 618,276 | |||||||||
Edgewise Therapeutics, Inc.(2)(3) | 2,573 | 24,881 | |||||||||
GSK PLC | 34,092 | 716,280 | |||||||||
Harmony Biosciences Holdings, Inc.(2) | 1,817 | 92,177 | |||||||||
Hikma Pharmaceuticals PLC | 16,331 | 345,188 |
Shares/ Principal Amount | Value | ||||||||||
Intra-Cellular Therapies, Inc.(2) | 2,275 | $ | 123,123 | ||||||||
Laboratorios Farmaceuticos Rovi SA | 337 | 17,645 | |||||||||
Merck & Co., Inc. | 5,820 | 519,959 | |||||||||
Novartis AG | 4,949 | 425,266 | |||||||||
Novo Nordisk A/S, B Shares | 9,767 | 1,137,599 | |||||||||
Sanofi | 2,972 | 295,338 | |||||||||
Sanofi, ADR | 16,167 | 803,500 | |||||||||
Takeda Pharmaceutical Co. Ltd. | 17,000 | 498,783 | |||||||||
Ventyx Biosciences, Inc.(2)(3) | 3,240 | 48,956 | |||||||||
Zoetis, Inc. | 2,490 | 454,550 | |||||||||
7,820,329 | |||||||||||
Professional Services — 0.3% | |||||||||||
ALS Ltd. | 10,227 | 83,999 | |||||||||
BayCurrent Consulting, Inc.(3) | 300 | 93,859 | |||||||||
Bureau Veritas SA | 17,575 | 484,729 | |||||||||
DKSH Holding AG | 1,327 | 109,077 | |||||||||
Jacobs Engineering Group, Inc. | 4,603 | 631,992 | |||||||||
Teleperformance | 874 | 292,267 | |||||||||
Verisk Analytics, Inc. | 2,384 | 453,556 | |||||||||
Visional, Inc.(2)(3) | 1,300 | 71,199 | |||||||||
2,220,678 | |||||||||||
Real Estate Management and Development — 0.1% | |||||||||||
Altus Group Ltd.(3) | 3,052 | 125,293 | |||||||||
Capitaland Investment Ltd. | 32,600 | 92,758 | |||||||||
City Developments Ltd. | 4,200 | 23,597 | |||||||||
CK Asset Holdings Ltd. | 7,500 | 53,098 | |||||||||
Colliers International Group, Inc. (Toronto) | 304 | 37,965 | |||||||||
DigitalBridge Group, Inc.(2) | 21,976 | 120,428 | |||||||||
Grainger PLC | 14,702 | 53,136 | |||||||||
PSP Swiss Property AG | 658 | 78,692 | |||||||||
Tokyu Fudosan Holdings Corp. | 15,700 | 85,077 | |||||||||
Tricon Residential, Inc. | 890 | 9,683 | |||||||||
Tricon Residential, Inc. (Toronto) | 12,731 | 138,390 | |||||||||
VGP NV | 92 | 16,158 | |||||||||
834,275 | |||||||||||
Road and Rail — 0.3% | |||||||||||
Canadian Pacific Railway Ltd. | 8,176 | 644,669 | |||||||||
Heartland Express, Inc. | 21,855 | 347,058 | |||||||||
Lyft, Inc., Class A(2) | 9,384 | 130,062 | |||||||||
Nagoya Railroad Co. Ltd. | 4,900 | 78,988 | |||||||||
Norfolk Southern Corp. | 3,303 | 829,615 | |||||||||
Saia, Inc.(2) | 347 | 82,534 | |||||||||
Uber Technologies, Inc.(2) | 3,091 | 72,484 | |||||||||
Union Pacific Corp. | 1,151 | 261,622 | |||||||||
2,447,032 | |||||||||||
Semiconductors and Semiconductor Equipment — 0.8% | |||||||||||
Advanced Micro Devices, Inc.(2) | 2,933 | 277,080 | |||||||||
Ambarella, Inc.(2) | 815 | 70,538 | |||||||||
Analog Devices, Inc. | 3,329 | 572,455 | |||||||||
Applied Materials, Inc. | 6,163 | 653,155 | |||||||||
ASML Holding NV | 547 | 314,393 |
Shares/ Principal Amount | Value | ||||||||||
BE Semiconductor Industries NV | 485 | $ | 26,036 | ||||||||
Enphase Energy, Inc.(2) | 2,112 | 600,188 | |||||||||
Infineon Technologies AG | 9,074 | 248,850 | |||||||||
Lattice Semiconductor Corp.(2) | 3,745 | 230,317 | |||||||||
MACOM Technology Solutions Holdings, Inc.(2) | 1,742 | 100,931 | |||||||||
Marvell Technology, Inc. | 6,884 | 383,301 | |||||||||
Monolithic Power Systems, Inc. | 1,304 | 605,995 | |||||||||
Nova Ltd.(2) | 711 | 74,904 | |||||||||
NVIDIA Corp. | 4,363 | 792,452 | |||||||||
Onto Innovation, Inc.(2) | 2,034 | 169,330 | |||||||||
Power Integrations, Inc. | 2,151 | 182,857 | |||||||||
Semtech Corp.(2) | 718 | 44,753 | |||||||||
Skyworks Solutions, Inc. | 1,893 | 206,110 | |||||||||
SUMCO Corp. | 27,300 | 382,001 | |||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 29,000 | 497,337 | |||||||||
6,432,983 | |||||||||||
Software — 1.8% | |||||||||||
Adobe, Inc.(2) | 651 | 266,988 | |||||||||
Atlassian Corp. PLC, Class A(2) | 1,439 | 301,211 | |||||||||
Box, Inc., Class A(2) | 6,362 | 180,935 | |||||||||
Cadence Design Systems, Inc.(2) | 9,577 | 1,782,088 | |||||||||
Dassault Systemes SE | 9,386 | 402,581 | |||||||||
Datadog, Inc., Class A(2) | 5,313 | 541,979 | |||||||||
Descartes Systems Group, Inc.(2) | 730 | 50,428 | |||||||||
DocuSign, Inc.(2) | 2,189 | 140,052 | |||||||||
Five9, Inc.(2) | 1,196 | 129,312 | |||||||||
HubSpot, Inc.(2) | 554 | 170,632 | |||||||||
JFrog Ltd.(2) | 3,539 | 78,566 | |||||||||
Kinaxis, Inc.(2) | 771 | 92,167 | |||||||||
m-up Holdings, Inc. | 3,300 | 38,376 | |||||||||
Manhattan Associates, Inc.(2) | 8,343 | 1,173,610 | |||||||||
Microsoft Corp. | 14,085 | 3,954,223 | |||||||||
nCino, Inc.(2)(3) | 4,337 | 140,042 | |||||||||
Open Text Corp. | 12,265 | 501,639 | |||||||||
Palo Alto Networks, Inc.(2) | 3,161 | 1,577,655 | |||||||||
Paycor HCM, Inc.(2) | 6,332 | 169,001 | |||||||||
Paylocity Holding Corp.(2) | 1,232 | 253,706 | |||||||||
QT Group Oyj(2)(3) | 176 | 14,231 | |||||||||
Salesforce, Inc.(2) | 1,833 | 337,309 | |||||||||
ServiceNow, Inc.(2) | 307 | 137,125 | |||||||||
Sprout Social, Inc., Class A(2) | 2,405 | 125,301 | |||||||||
SPS Commerce, Inc.(2) | 1,461 | 174,969 | |||||||||
Tenable Holdings, Inc.(2) | 4,985 | 192,670 | |||||||||
Trade Desk, Inc., Class A(2) | 9,118 | 410,310 | |||||||||
Workday, Inc., Class A(2) | 594 | 92,129 | |||||||||
13,429,235 | |||||||||||
Specialty Retail — 0.4% | |||||||||||
Advance Auto Parts, Inc. | 4,898 | 948,351 | |||||||||
Burlington Stores, Inc.(2) | 2,133 | 301,030 | |||||||||
Five Below, Inc.(2) | 1,395 | 177,263 | |||||||||
Home Depot, Inc. | 2,696 | 811,334 |
Shares/ Principal Amount | Value | ||||||||||
Leslie's, Inc.(2) | 10,585 | $ | 160,468 | ||||||||
Nextage Co. Ltd. | 4,200 | 92,900 | |||||||||
Petco Health & Wellness Co., Inc.(2)(3) | 6,362 | 88,559 | |||||||||
Pets at Home Group PLC | 1,756 | 7,046 | |||||||||
TJX Cos., Inc. | 6,377 | 390,017 | |||||||||
Tractor Supply Co. | 819 | 156,822 | |||||||||
Watches of Switzerland Group PLC(2) | 6,426 | 69,660 | |||||||||
3,203,450 | |||||||||||
Technology Hardware, Storage and Peripherals — 0.4% | |||||||||||
Apple, Inc. | 14,599 | 2,372,483 | |||||||||
HP, Inc. | 13,446 | 448,962 | |||||||||
Pure Storage, Inc., Class A(2) | 2,193 | 62,172 | |||||||||
2,883,617 | |||||||||||
Textiles, Apparel and Luxury Goods — 0.4% | |||||||||||
Asics Corp.(3) | 3,700 | 70,498 | |||||||||
Crocs, Inc.(2) | 1,705 | 122,146 | |||||||||
Deckers Outdoor Corp.(2) | 517 | 161,930 | |||||||||
EssilorLuxottica SA | 2,354 | 369,066 | |||||||||
Li Ning Co. Ltd. | 50,000 | 405,581 | |||||||||
lululemon athletica, Inc.(2) | 2,107 | 654,244 | |||||||||
LVMH Moet Hennessy Louis Vuitton SE | 721 | 500,629 | |||||||||
NIKE, Inc., Class B | 2,754 | 316,490 | |||||||||
Puma SE | 4,024 | 271,716 | |||||||||
2,872,300 | |||||||||||
Thrifts and Mortgage Finance† | |||||||||||
Capitol Federal Financial, Inc. | 21,251 | 203,797 | |||||||||
Trading Companies and Distributors — 0.3% | |||||||||||
AddTech AB, B Shares | 3,428 | 58,683 | |||||||||
Ashtead Group PLC | 5,653 | 318,206 | |||||||||
Beacon Roofing Supply, Inc.(2) | 4,927 | 295,719 | |||||||||
Diploma PLC | 1,928 | 64,747 | |||||||||
Finning International, Inc. | 1,866 | 40,801 | |||||||||
H&E Equipment Services, Inc. | 4,488 | 160,446 | |||||||||
MonotaRO Co. Ltd. | 15,100 | 269,615 | |||||||||
MSC Industrial Direct Co., Inc., Class A | 10,724 | 886,446 | |||||||||
NOW, Inc.(2) | 9,789 | 108,266 | |||||||||
RS GROUP PLC | 5,273 | 66,570 | |||||||||
Yamazen Corp. | 7,500 | 56,707 | |||||||||
2,326,206 | |||||||||||
Transportation Infrastructure† | |||||||||||
Japan Airport Terminal Co. Ltd.(2) | 1,500 | 58,798 | |||||||||
SATS Ltd.(2) | 26,400 | 76,107 | |||||||||
134,905 | |||||||||||
Water Utilities† | |||||||||||
SJW Group | 2,514 | 165,069 | |||||||||
TOTAL COMMON STOCKS (Cost $161,274,361) | 195,823,238 | ||||||||||
U.S. TREASURY SECURITIES — 8.1% | |||||||||||
U.S. Treasury Bonds, 2.375%, 2/15/42(5) | $ | 11,500,000 | 10,019,375 | ||||||||
U.S. Treasury Bonds, 3.125%, 8/15/44 | 200,000 | 193,852 | |||||||||
U.S. Treasury Bonds, 2.50%, 2/15/45 | 1,060,000 | 919,571 | |||||||||
U.S. Treasury Bonds, 3.00%, 5/15/45 | 560,000 | 530,862 |
Shares/ Principal Amount | Value | ||||||||||
U.S. Treasury Bonds, 3.00%, 11/15/45 | $ | 100,000 | $ | 95,045 | |||||||
U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/25 | 1,163,003 | 1,236,169 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/27 | 362,355 | 402,007 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 2.50%, 1/15/29 | 1,545,212 | 1,786,673 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 3.375%, 4/15/32 | 164,674 | 215,425 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 2.125%, 2/15/40 | 811,410 | 1,007,430 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 2.125%, 2/15/41 | 1,094,487 | 1,359,561 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.625%, 2/15/43 | 1,233,200 | 1,175,915 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 1.375%, 2/15/44 | 3,323,551 | 3,655,897 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 | 2,929,397 | 2,835,737 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 | 665,979 | 661,730 | |||||||||
U.S. Treasury Inflation Indexed Bonds, 0.125%, 2/15/51 | 1,122,700 | 935,039 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 4/15/27 | 4,622,347 | 4,669,860 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.50%, 1/15/28 | 2,192,232 | 2,250,134 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.875%, 1/15/29 | 2,199,440 | 2,314,799 | |||||||||
U.S. Treasury Inflation Indexed Notes, 0.125%, 1/15/32 | 4,307,428 | 4,301,261 | |||||||||
U.S. Treasury Notes, 0.25%, 5/31/25(5) | 9,900,000 | 9,205,646 | |||||||||
U.S. Treasury Notes, 0.50%, 4/30/27 | 6,000,000 | 5,409,375 | |||||||||
U.S. Treasury Notes, 2.25%, 8/15/27 | 400,000 | 390,969 | |||||||||
U.S. Treasury Notes, 0.625%, 5/15/30 | 1,100,000 | 942,906 | |||||||||
U.S. Treasury Notes, 1.875%, 2/15/32 | 5,800,000 | 5,414,844 | |||||||||
TOTAL U.S. TREASURY SECURITIES (Cost $64,557,664) | 61,930,082 | ||||||||||
CORPORATE BONDS — 3.4% | |||||||||||
Aerospace and Defense — 0.1% | |||||||||||
Boeing Co., 5.81%, 5/1/50 | 90,000 | 89,616 | |||||||||
TransDigm, Inc., 6.375%, 6/15/26 | 50,000 | 49,806 | |||||||||
TransDigm, Inc., 4.625%, 1/15/29 | 340,000 | 306,398 | |||||||||
445,820 | |||||||||||
Airlines — 0.1% | |||||||||||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(6) | 374,385 | 368,720 | |||||||||
United Airlines Holdings, Inc., 5.00%, 2/1/24 | 85,000 | 83,559 | |||||||||
452,279 | |||||||||||
Auto Components† | |||||||||||
ZF North America Capital, Inc., 4.75%, 4/29/25(6) | 105,000 | 100,076 | |||||||||
Automobiles — 0.1% | |||||||||||
BMW Finance NV, 0.875%, 4/3/25 | EUR | 50,000 | 50,831 | ||||||||
Ford Motor Credit Co. LLC, 3.625%, 6/17/31 | $ | 670,000 | 569,822 | ||||||||
General Motors Co., 5.15%, 4/1/38 | 410,000 | 369,844 | |||||||||
990,497 | |||||||||||
Banks — 0.8% | |||||||||||
Akbank T.A.S., 5.00%, 10/24/22 | 130,000 | 129,420 | |||||||||
Avi Funding Co. Ltd., 3.80%, 9/16/25(6) | 255,000 | 255,803 | |||||||||
Banco Santander SA, 2.50%, 3/18/25 | EUR | 200,000 | 206,295 | ||||||||
Bank of America Corp., VRN, 2.88%, 10/22/30 | $ | 260,000 | 236,093 | ||||||||
Barclays PLC, VRN, 1.375%, 1/24/26 | EUR | 100,000 | 99,252 | ||||||||
Barclays PLC, VRN, 2.00%, 2/7/28 | EUR | 100,000 | 100,947 | ||||||||
CaixaBank SA, VRN, 2.75%, 7/14/28 | EUR | 200,000 | 202,496 | ||||||||
CaixaBank SA, VRN, 2.25%, 4/17/30 | EUR | 400,000 | 388,255 | ||||||||
Citigroup, Inc., VRN, 3.07%, 2/24/28 | $ | 106,000 | 100,697 | ||||||||
Citigroup, Inc., VRN, 3.52%, 10/27/28 | 115,000 | 109,989 |
Shares/ Principal Amount | Value | ||||||||||
Commerzbank AG, 4.00%, 3/23/26 | EUR | 250,000 | $ | 260,597 | |||||||
Credit Agricole SA, 7.375%, 12/18/23 | GBP | 100,000 | 127,363 | ||||||||
European Financial Stability Facility, 2.125%, 2/19/24 | EUR | 399,000 | 416,331 | ||||||||
European Financial Stability Facility, 0.40%, 5/31/26 | EUR | 400,000 | 399,367 | ||||||||
European Financial Stability Facility, 2.35%, 7/29/44 | EUR | 60,000 | 66,622 | ||||||||
European Union, 0.00%, 7/4/31(7) | EUR | 1,650,000 | 1,483,827 | ||||||||
HSBC Bank PLC, VRN, 5.375%, 11/4/30 | GBP | 50,000 | 62,947 | ||||||||
ING Groep NV, 2.125%, 1/10/26 | EUR | 400,000 | 411,830 | ||||||||
Intesa Sanpaolo SpA, 6.625%, 9/13/23 | EUR | 220,000 | 233,760 | ||||||||
Lloyds Bank PLC, 7.625%, 4/22/25 | GBP | 120,000 | 159,962 | ||||||||
Wells Fargo & Co., VRN, 3.07%, 4/30/41 | $ | 605,000 | 491,154 | ||||||||
5,943,007 | |||||||||||
Beverages — 0.1% | |||||||||||
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., 4.90%, 2/1/46 | 370,000 | 373,506 | |||||||||
Biotechnology — 0.1% | |||||||||||
AbbVie, Inc., 4.40%, 11/6/42 | 605,000 | 580,752 | |||||||||
Capital Markets† | |||||||||||
Criteria Caixa SA, 1.50%, 5/10/23 | EUR | 100,000 | 102,339 | ||||||||
Chemicals† | |||||||||||
Equate Petrochemical BV, 4.25%, 11/3/26(6) | $ | 82,000 | 81,098 | ||||||||
Olin Corp., 5.125%, 9/15/27 | 60,000 | 57,806 | |||||||||
138,904 | |||||||||||
Commercial Services and Supplies† | |||||||||||
Waste Connections, Inc., 2.95%, 1/15/52 | 154,000 | 117,566 | |||||||||
Waste Management, Inc., 2.50%, 11/15/50 | 220,000 | 155,231 | |||||||||
272,797 | |||||||||||
Containers and Packaging† | |||||||||||
Ball Corp., 5.25%, 7/1/25 | 35,000 | 35,475 | |||||||||
Mauser Packaging Solutions Holding Co., 5.50%, 4/15/24(6) | 30,000 | 29,709 | |||||||||
Sealed Air Corp., 5.125%, 12/1/24(6) | 80,000 | 81,091 | |||||||||
146,275 | |||||||||||
Diversified Consumer Services† | |||||||||||
Duke University, 3.30%, 10/1/46 | 220,000 | 192,825 | |||||||||
Diversified Financial Services — 0.3% | |||||||||||
Fiore Capital LLC, VRDN, 2.42%, 8/5/22 (LOC: Wells Fargo Bank N.A.) | 2,500,000 | 2,500,000 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
AT&T, Inc., 2.60%, 12/17/29 | EUR | 120,000 | 125,872 | ||||||||
AT&T, Inc., 4.90%, 8/15/37 | $ | 116,000 | 119,088 | ||||||||
Deutsche Telekom International Finance BV, 1.25%, 10/6/23 | GBP | 150,000 | 179,348 | ||||||||
Deutsche Telekom International Finance BV, 0.875%, 1/30/24 | EUR | 40,000 | 40,978 | ||||||||
Level 3 Financing, Inc., 4.625%, 9/15/27(6) | $ | 243,000 | 222,708 | ||||||||
Turk Telekomunikasyon AS, 4.875%, 6/19/24(6) | 205,000 | 177,356 | |||||||||
Verizon Communications, Inc., 1.75%, 1/20/31 | 230,000 | 192,656 | |||||||||
1,058,006 | |||||||||||
Electric Utilities — 0.2% | |||||||||||
Duke Energy Carolinas LLC, 3.20%, 8/15/49 | 270,000 | 222,320 | |||||||||
Duke Energy Florida LLC, 3.85%, 11/15/42 | 130,000 | 117,605 | |||||||||
Duke Energy Progress LLC, 4.15%, 12/1/44 | 59,000 | 55,637 |
Shares/ Principal Amount | Value | ||||||||||
Exelon Corp., 4.45%, 4/15/46 | $ | 190,000 | $ | 178,765 | |||||||
Israel Electric Corp. Ltd., 6.875%, 6/21/23(6) | 102,000 | 104,511 | |||||||||
MidAmerican Energy Co., 4.40%, 10/15/44 | 80,000 | 78,631 | |||||||||
Northern States Power Co., 3.20%, 4/1/52 | 160,000 | 132,833 | |||||||||
Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, 3.00%, 6/30/30 | 500,000 | 425,655 | |||||||||
1,315,957 | |||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.1% | |||||||||||
EPR Properties, 4.95%, 4/15/28 | 540,000 | 504,509 | |||||||||
VICI Properties LP / VICI Note Co., Inc., 5.625%, 5/1/24(6) | 90,000 | 90,153 | |||||||||
594,662 | |||||||||||
Food and Staples Retailing† | |||||||||||
Tesco PLC, 5.00%, 3/24/23 | GBP | 50,000 | 61,429 | ||||||||
Health Care Providers and Services — 0.2% | |||||||||||
CVS Health Corp., 4.78%, 3/25/38 | $ | 475,000 | 476,201 | ||||||||
DaVita, Inc., 4.625%, 6/1/30(6) | 510,000 | 419,174 | |||||||||
Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 180,000 | 138,491 | |||||||||
Universal Health Services, Inc., 2.65%, 10/15/30(6) | 605,000 | 495,130 | |||||||||
1,528,996 | |||||||||||
Hotels, Restaurants and Leisure — 0.1% | |||||||||||
Caesars Entertainment, Inc., 4.625%, 10/15/29(6) | 200,000 | 170,029 | |||||||||
MGM Resorts International, 6.00%, 3/15/23 | 130,000 | 131,283 | |||||||||
Penn National Gaming, Inc., 5.625%, 1/15/27(6) | 150,000 | 139,569 | |||||||||
Penn National Gaming, Inc., 4.125%, 7/1/29(6) | 77,000 | 64,176 | |||||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.25%, 5/15/27(6) | 150,000 | 139,491 | |||||||||
644,548 | |||||||||||
Household Durables — 0.1% | |||||||||||
KB Home, 4.80%, 11/15/29 | 477,000 | 429,801 | |||||||||
Meritage Homes Corp., 5.125%, 6/6/27 | 160,000 | 156,876 | |||||||||
Tempur Sealy International, Inc., 3.875%, 10/15/31(6) | 238,000 | 193,375 | |||||||||
780,052 | |||||||||||
Insurance† | |||||||||||
AXA SA, VRN, 3.375%, 7/6/47 | EUR | 200,000 | 206,376 | ||||||||
Interactive Media and Services† | |||||||||||
Tencent Holdings Ltd., 3.80%, 2/11/25(6) | $ | 153,000 | 152,412 | ||||||||
Internet and Direct Marketing Retail† | |||||||||||
Alibaba Group Holding Ltd., 2.80%, 6/6/23 | 330,000 | 327,564 | |||||||||
Media — 0.1% | |||||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital, 5.125%, 7/1/49 | 120,000 | 103,632 | |||||||||
DISH DBS Corp., 7.75%, 7/1/26 | 310,000 | 258,163 | |||||||||
Paramount Global, 4.375%, 3/15/43 | 90,000 | 71,864 | |||||||||
WPP Finance 2013, 3.00%, 11/20/23 | EUR | 100,000 | 104,232 | ||||||||
537,891 | |||||||||||
Metals and Mining — 0.2% | |||||||||||
Alcoa Nederland Holding BV, 4.125%, 3/31/29(6) | $ | 400,000 | 376,826 | ||||||||
Cleveland-Cliffs, Inc., 4.625%, 3/1/29(6) | 452,000 | 422,532 | |||||||||
Freeport-McMoRan, Inc., 5.40%, 11/14/34 | 180,000 | 179,846 | |||||||||
Minera Mexico SA de CV, 4.50%, 1/26/50(6) | 500,000 | 396,067 | |||||||||
Teck Resources Ltd., 6.25%, 7/15/41 | 110,000 | 112,570 | |||||||||
1,487,841 |
Shares/ Principal Amount | Value | ||||||||||
Mortgage Real Estate Investment Trusts (REITs)† | |||||||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.75%, 6/15/29(6) | $ | 356,000 | $ | 304,387 | |||||||
Multi-Utilities† | |||||||||||
Dominion Energy, Inc., 4.90%, 8/1/41 | 70,000 | 70,077 | |||||||||
Oil, Gas and Consumable Fuels — 0.3% | |||||||||||
Antero Resources Corp., 7.625%, 2/1/29(6) | 184,000 | 194,151 | |||||||||
BP Capital Markets America, Inc., 3.06%, 6/17/41 | 180,000 | 148,994 | |||||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25 | 70,000 | 69,025 | |||||||||
Enbridge, Inc., 3.40%, 8/1/51 | 210,000 | 167,215 | |||||||||
Enterprise Products Operating LLC, 4.85%, 3/15/44 | 360,000 | 345,966 | |||||||||
Enterprise Products Operating LLC, 3.30%, 2/15/53 | 149,000 | 116,489 | |||||||||
Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40(6) | 491,305 | 414,092 | |||||||||
Kinder Morgan Energy Partners LP, 6.50%, 9/1/39 | 180,000 | 192,199 | |||||||||
MEG Energy Corp., 5.875%, 2/1/29(6) | 220,000 | 209,348 | |||||||||
Petroleos Mexicanos, 3.50%, 1/30/23 | 110,000 | 109,549 | |||||||||
Petroleos Mexicanos, 6.50%, 3/13/27 | 105,000 | 95,080 | |||||||||
Southwestern Energy Co., 5.95%, 1/23/25 | 14,000 | 14,188 | |||||||||
2,076,296 | |||||||||||
Pharmaceuticals† | |||||||||||
Viatris, Inc., 4.00%, 6/22/50 | 246,000 | 170,820 | |||||||||
Road and Rail† | |||||||||||
Burlington Northern Santa Fe LLC, 4.45%, 3/15/43 | 160,000 | 161,936 | |||||||||
Burlington Northern Santa Fe LLC, 4.15%, 4/1/45 | 70,000 | 67,647 | |||||||||
229,583 | |||||||||||
Software — 0.1% | |||||||||||
NCR Corp., 5.125%, 4/15/29(6) | 186,000 | 178,982 | |||||||||
Oracle Corp., 3.60%, 4/1/40 | 310,000 | 240,916 | |||||||||
419,898 | |||||||||||
Transportation Infrastructure — 0.1% | |||||||||||
Adani Ports & Special Economic Zone Ltd., 4.00%, 7/30/27 | 500,000 | 463,165 | |||||||||
DP World Crescent Ltd., 4.85%, 9/26/28 | 250,000 | 253,467 | |||||||||
716,632 | |||||||||||
Wireless Telecommunication Services — 0.2% | |||||||||||
C&W Senior Financing DAC, 6.875%, 9/15/27(6) | 228,000 | 203,923 | |||||||||
Millicom International Cellular SA, 5.125%, 1/15/28(6) | 229,500 | 211,314 | |||||||||
Sprint Corp., 7.875%, 9/15/23 | 75,000 | 77,859 | |||||||||
Sprint Corp., 7.125%, 6/15/24 | 205,000 | 215,082 | |||||||||
T-Mobile USA, Inc., 4.75%, 2/1/28 | 539,000 | 538,930 | |||||||||
T-Mobile USA, Inc., 3.50%, 4/15/31 | 27,000 | 25,007 | |||||||||
1,272,115 | |||||||||||
TOTAL CORPORATE BONDS (Cost $29,276,160) | 26,194,619 | ||||||||||
SOVEREIGN GOVERNMENTS AND AGENCIES — 2.3% | |||||||||||
Australia — 0.1% | |||||||||||
Australia Government Bond, 3.00%, 3/21/47 | AUD | 270,000 | 174,963 | ||||||||
New South Wales Treasury Corp., 3.00%, 3/20/28 | AUD | 395,000 | 272,275 | ||||||||
447,238 | |||||||||||
Austria — 0.1% | |||||||||||
Republic of Austria Government Bond, 0.75%, 10/20/26(6) | EUR | 185,000 | 190,118 |
Shares/ Principal Amount | Value | ||||||||||
Republic of Austria Government Bond, 4.15%, 3/15/37(6) | EUR | 121,000 | $ | 163,696 | |||||||
353,814 | |||||||||||
Belgium† | |||||||||||
Kingdom of Belgium Government Bond, 4.25%, 3/28/41(6) | EUR | 74,000 | 102,155 | ||||||||
Canada — 0.3% | |||||||||||
Canadian Government Bond, 0.25%, 3/1/26 | CAD | 1,500,000 | 1,073,504 | ||||||||
Province of British Columbia Canada, 2.85%, 6/18/25 | CAD | 809,000 | 627,389 | ||||||||
Province of Quebec Canada, 3.00%, 9/1/23 | CAD | 465,000 | 362,254 | ||||||||
Province of Quebec Canada, 5.75%, 12/1/36 | CAD | 445,000 | 428,187 | ||||||||
Province of Quebec Canada, 5.00%, 12/1/41 | CAD | 30,000 | 27,356 | ||||||||
Province of Quebec Canada, 3.50%, 12/1/48 | CAD | 110,000 | 82,281 | ||||||||
2,600,971 | |||||||||||
China — 0.5% | |||||||||||
China Government Bond, 2.68%, 5/21/30 | CNY | 24,800,000 | 3,650,154 | ||||||||
Czech Republic† | |||||||||||
Czech Republic Government Bond, 4.70%, 9/12/22 | CZK | 2,470,000 | 102,409 | ||||||||
Denmark† | |||||||||||
Denmark Government Bond, 0.50%, 11/15/27 | DKK | 600,000 | 80,984 | ||||||||
Denmark Government Bond, 4.50%, 11/15/39 | DKK | 340,000 | 68,529 | ||||||||
149,513 | |||||||||||
Finland — 0.3% | |||||||||||
Finland Government Bond, 4.00%, 7/4/25(6) | EUR | 219,000 | 246,871 | ||||||||
Finland Government Bond, 0.125%, 4/15/36(6) | EUR | 2,250,000 | 1,894,656 | ||||||||
2,141,527 | |||||||||||
France — 0.2% | |||||||||||
French Republic Government Bond OAT, 0.00%, 11/25/31(7) | EUR | 1,400,000 | 1,277,632 | ||||||||
Germany† | |||||||||||
Bundesrepublik Deutschland Bundesanleihe, 0.00%, 8/15/52(7) | EUR | 400,000 | 297,058 | ||||||||
Ireland† | |||||||||||
Ireland Government Bond, 3.40%, 3/18/24 | EUR | 283,000 | 303,687 | ||||||||
Italy — 0.2% | |||||||||||
Italy Buoni Poliennali Del Tesoro, 1.50%, 6/1/25 | EUR | 180,000 | 182,882 | ||||||||
Italy Buoni Poliennali Del Tesoro, 2.00%, 12/1/25 | EUR | 1,338,000 | 1,374,175 | ||||||||
1,557,057 | |||||||||||
Malaysia† | |||||||||||
Malaysia Government Bond, 3.96%, 9/15/25 | MYR | 990,000 | 224,966 | ||||||||
Mexico — 0.1% | |||||||||||
Mexico Government International Bond, 4.15%, 3/28/27 | $ | 700,000 | 704,210 | ||||||||
Netherlands — 0.1% | |||||||||||
Netherlands Government Bond, 0.50%, 7/15/26(6) | EUR | 506,000 | 515,600 | ||||||||
Netherlands Government Bond, 2.75%, 1/15/47(6) | EUR | 82,000 | 108,332 | ||||||||
623,932 | |||||||||||
Norway† | |||||||||||
Norway Government Bond, 2.00%, 5/24/23(6) | NOK | 405,000 | 41,757 | ||||||||
Norway Government Bond, 1.75%, 2/17/27(6) | NOK | 1,880,000 | 186,838 | ||||||||
228,595 | |||||||||||
Peru† | |||||||||||
Peruvian Government International Bond, 5.625%, 11/18/50 | $ | 160,000 | 175,491 |
Shares/ Principal Amount | Value | ||||||||||
Philippines† | |||||||||||
Philippine Government International Bond, 6.375%, 10/23/34 | $ | 100,000 | $ | 116,557 | |||||||
Poland† | |||||||||||
Republic of Poland Government Bond, 4.00%, 10/25/23 | PLN | 775,000 | 162,173 | ||||||||
Singapore† | |||||||||||
Singapore Government Bond, 3.125%, 9/1/22 | SGD | 377,000 | 273,055 | ||||||||
Spain — 0.1% | |||||||||||
Spain Government Bond, 4.40%, 10/31/23(6) | EUR | 100,000 | 107,020 | ||||||||
Spain Government Bond, 1.60%, 4/30/25(6) | EUR | 132,000 | 138,302 | ||||||||
Spain Government Bond, 5.15%, 10/31/28(6) | EUR | 47,000 | 59,169 | ||||||||
Spain Government Bond, 5.15%, 10/31/44(6) | EUR | 9,000 | 13,697 | ||||||||
318,188 | |||||||||||
Switzerland — 0.1% | |||||||||||
Swiss Confederation Government Bond, 1.25%, 5/28/26 | CHF | 410,000 | 451,548 | ||||||||
Swiss Confederation Government Bond, 2.50%, 3/8/36 | CHF | 71,000 | 93,070 | ||||||||
544,618 | |||||||||||
Thailand — 0.1% | |||||||||||
Thailand Government Bond, 3.625%, 6/16/23 | THB | 4,150,000 | 115,082 | ||||||||
Thailand Government Bond, 3.85%, 12/12/25 | THB | 11,550,000 | 331,906 | ||||||||
446,988 | |||||||||||
United Kingdom — 0.1% | |||||||||||
United Kingdom Gilt, 0.125%, 1/30/26 | GBP | 800,000 | 925,599 | ||||||||
Uruguay† | |||||||||||
Uruguay Government International Bond, 4.125%, 11/20/45 | $ | 80,000 | 78,898 | ||||||||
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $19,570,745) | 17,806,485 | ||||||||||
COLLATERALIZED LOAN OBLIGATIONS — 1.9% | |||||||||||
Ares XL CLO Ltd., Series 2016-40A, Class CRR, VRN, 5.31%, (3-month LIBOR plus 2.80%), 1/15/29(6) | 500,000 | 462,054 | |||||||||
ARES XLVII CLO Ltd., Series 2018-47A, Class C, VRN, 4.26%, (3-month LIBOR plus 1.75%), 4/15/30(6) | 350,000 | 331,167 | |||||||||
Ares XXXIV CLO Ltd., Series 2015-2A, Class BR2, VRN, 4.34%, (3-month LIBOR plus 1.60%), 4/17/33(6) | 725,000 | 691,264 | |||||||||
Ares XXXIX CLO Ltd., Series 2016-39A, Class CR2, VRN, 4.79%, (3-month LIBOR plus 2.05%), 4/18/31(6) | 575,000 | 544,206 | |||||||||
Carlyle Global Market Strategies CLO Ltd., Series 2012-4A, Class CR3, VRN, 5.36%, (3-month LIBOR plus 2.60%), 4/22/32(6) | 1,750,000 | 1,673,418 | |||||||||
CIFC Funding Ltd., Series 2017-5A, Class B, VRN, 4.59%, (3-month LIBOR plus 1.85%), 11/16/30(6) | 1,100,000 | 1,040,050 | |||||||||
Cook Park CLO Ltd., Series 2018-1A, Class C, VRN, 4.49%, (3-month LIBOR plus 1.75%), 4/17/30(6) | 3,000,000 | 2,832,064 | |||||||||
Dewolf Park CLO Ltd., Series 2017-1A, Class CR, VRN, 4.36%, (3-month LIBOR plus 1.85%), 10/15/30(6) | 450,000 | 430,239 | |||||||||
Eaton Vance CLO Ltd., Series 2015-1A, Class CR, VRN, 4.61%, (3-month LIBOR plus 1.90%), 1/20/30(6) | 512,500 | 486,629 | |||||||||
Goldentree Loan Opportunities X Ltd., Series 2015-10A, Class AR, VRN, 3.83%, (3-month LIBOR plus 1.12%), 7/20/31(6) | 350,000 | 343,387 | |||||||||
KKR CLO Ltd., Series 2018, Class CR, VRN, 4.84%, (3-month LIBOR plus 2.10%), 7/18/30(6) | 325,000 | 314,500 | |||||||||
KKR CLO Ltd., Series 2022A, Class B, VRN, 4.31%, (3-month LIBOR plus 1.60%), 7/20/31(6) | 500,000 | 480,277 | |||||||||
Magnetite VIII Ltd., Series 2014-8A, Class BR2, VRN, 4.01%, (3-month LIBOR plus 1.50%), 4/15/31(6) | 600,000 | 577,173 |
Shares/ Principal Amount | Value | ||||||||||
Magnetite XXV Ltd., Series 2020-25A, Class C, VRN, 4.88%, (3-month LIBOR plus 2.10%), 1/25/32(6) | $ | 450,000 | $ | 432,126 | |||||||
Marathon CLO Ltd., Series 2021-17A, Class B1, VRN, 5.39%, (3-month LIBOR plus 2.68%), 1/20/35(6) | 425,000 | 404,017 | |||||||||
MF1 Ltd., Series 2021-FL7, Class AS, VRN, 3.61%, (1-month LIBOR plus 1.45%), 10/16/36(6) | 716,000 | 680,382 | |||||||||
Palmer Square Loan Funding Ltd., Series 2022-1A, Class B, VRN, 4.33%, (3-month SOFR plus 2.00%), 4/15/30(6) | 350,000 | 334,502 | |||||||||
Rockford Tower CLO Ltd., Series 2020-1A, Class C, VRN, 5.06%, (3-month LIBOR plus 2.35%), 1/20/32(6) | 400,000 | 385,851 | |||||||||
Sound Point CLO IX Ltd., Series 2015-2A, Class CRRR, VRN, 5.21%, (3-month LIBOR plus 2.50%), 7/20/32(6) | 1,450,000 | 1,373,645 | |||||||||
Symphony CLO XXII Ltd., Series 2020-22A, Class B, VRN, 4.44%, (3-month LIBOR plus 1.70%), 4/18/33(6) | 1,000,000 | 957,177 | |||||||||
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $15,510,974) | 14,774,128 | ||||||||||
ASSET-BACKED SECURITIES — 0.9% | |||||||||||
Blackbird Capital Aircraft, Series 2021-1A, Class A SEQ, 2.44%, 7/15/46(6) | 380,759 | 330,246 | |||||||||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A SEQ, 2.94%, 5/25/29(6) | 105,313 | 102,873 | |||||||||
FirstKey Homes Trust, Series 2020-SFR1, Class C, 1.94%, 8/17/37(6) | 600,000 | 562,684 | |||||||||
FirstKey Homes Trust, Series 2020-SFR1, Class E, 2.79%, 8/17/37(6) | 3,100,000 | 2,872,835 | |||||||||
FirstKey Homes Trust, Series 2020-SFR2, Class E, 2.67%, 10/19/37(6) | 1,000,000 | 923,172 | |||||||||
Lunar Aircarft Ltd., Series 2020-1A, Class A SEQ, 3.38%, 2/15/45(6) | 647,267 | 557,756 | |||||||||
MAPS Trust, Series 2021-1A, Class A SEQ, 2.52%, 6/15/46(6) | 1,237,545 | 1,088,932 | |||||||||
VSE VOI Mortgage LLC, Series 2018-A, Class B, 3.72%, 2/20/36(6) | 229,143 | 224,297 | |||||||||
TOTAL ASSET-BACKED SECURITIES (Cost $7,378,891) | 6,662,795 | ||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES — 0.5% | |||||||||||
BX Commercial Mortgage Trust, Series 2021-VOLT, Class F, VRN, 4.40%, (1-month LIBOR plus 2.40%), 9/15/36(6) | 900,000 | 850,429 | |||||||||
BXHPP Trust, Series 2021-FILM, Class D, VRN, 3.50%, (1-month LIBOR plus 1.50%), 8/15/36(6) | 1,500,000 | 1,373,701 | |||||||||
Ready Capital Mortgage Financing LLC, Series 2021-FL6, Class B, VRN, 3.86%, (1-month LIBOR plus 1.60%), 7/25/36(6) | 1,500,000 | 1,418,353 | |||||||||
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $3,904,226) | 3,642,483 | ||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS — 0.5% | |||||||||||
Private Sponsor Collateralized Mortgage Obligations — 0.4% | |||||||||||
ABN Amro Mortgage Corp., Series 2003-4, Class A4, 5.50%, 3/25/33 | 6,626 | 6,216 | |||||||||
Adjustable Rate Mortgage Trust, Series 2004-4, Class 4A1, VRN, 2.86%, 3/25/35 | 28,131 | 28,016 | |||||||||
Banc of America Mortgage Trust, Series 2004-E, Class 2A6 SEQ, VRN, 3.59%, 6/25/34 | 56,914 | 55,506 | |||||||||
Citigroup Mortgage Loan Trust, Inc., Series 2004-UST1, Class A5, VRN, 2.48%, 8/25/34 | 53,468 | 52,586 | |||||||||
COLT Mortgage Loan Trust, Series 2021-3, Class M1, VRN, 2.30%, 9/27/66(6) | 1,800,000 | 1,268,168 |
Shares/ Principal Amount | Value | ||||||||||
First Horizon Alternative Mortgage Securities Trust, Series 2004-AA4, Class A1, VRN, 2.58%, 10/25/34 | $ | 43,036 | $ | 43,110 | |||||||
GSR Mortgage Loan Trust, Series 2004-5, Class 3A3, VRN, 2.78%, 5/25/34 | 40,312 | 38,234 | |||||||||
GSR Mortgage Loan Trust, Series 2004-7, Class 3A1, VRN, 3.09%, 6/25/34 | 16,426 | 15,084 | |||||||||
GSR Mortgage Loan Trust, Series 2005-AR1, Class 3A1, VRN, 2.77%, 1/25/35 | 49,738 | 48,976 | |||||||||
MASTR Adjustable Rate Mortgages Trust, Series 2004-13, Class 3A7, VRN, 3.43%, 11/21/34 | 149,562 | 143,359 | |||||||||
Merrill Lynch Mortgage Investors Trust, Series 2005-3, Class 2A, VRN, 2.89%, 11/25/35 | 30,056 | 28,789 | |||||||||
Merrill Lynch Mortgage Investors Trust, Series 2005-A2, Class A1, VRN, 2.78%, 2/25/35 | 44,545 | 42,706 | |||||||||
Merrill Lynch Mortgage Investors Trust, Series 2005-A2, Class A2, VRN, 2.78%, 2/25/35 | 13,920 | 13,366 | |||||||||
Radnor RE Ltd., Series 2021-1, Class M1B, VRN, 3.21%, (30-day average SOFR plus 1.70%), 12/27/33(6) | 850,000 | 830,025 | |||||||||
Sofi Mortgage Trust, Series 2016-1A, Class 1A4 SEQ, VRN, 3.00%, 11/25/46(6) | 27,964 | 26,862 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-8, Class 2A1, VRN, 3.64%, 7/25/34 | 27,583 | 27,187 | |||||||||
Triangle Re Ltd., Series 2021-2, Class M1A, VRN, 4.31%, (1-month LIBOR plus 2.05%), 10/25/33(6) | 93,585 | 93,305 | |||||||||
WaMu Mortgage Pass-Through Certificates, Series 2003-S11, Class 3A5, 5.95%, 11/25/33 | 30,300 | 30,638 | |||||||||
2,792,133 | |||||||||||
U.S. Government Agency Collateralized Mortgage Obligations — 0.1% | |||||||||||
FHLMC, Series 5123, Class HI, IO, 5.00%, 1/25/42 | 680,324 | 123,957 | |||||||||
FNMA, Series 2014-C02, Class 2M2, VRN, 4.86%, (1-month LIBOR plus 2.60%), 5/25/24 | 235,205 | 236,062 | |||||||||
FNMA, Series 2015-C04, Class 1M2, VRN, 7.96%, (1-month LIBOR plus 5.70%), 4/25/28 | 191,497 | 200,576 | |||||||||
560,595 | |||||||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,860,391) | 3,352,728 | ||||||||||
PREFERRED STOCKS — 0.4% | |||||||||||
Automobiles — 0.1% | |||||||||||
Volkswagen International Finance NV, 3.875% | 500,000 | 454,759 | |||||||||
Diversified Telecommunication Services — 0.1% | |||||||||||
Telefonica Europe BV, 3.00% | 400,000 | 400,490 | |||||||||
Telefonica Europe BV, 5.875% | 100,000 | 103,599 | |||||||||
504,089 | |||||||||||
Electric Utilities† | |||||||||||
Electricite de France SA, 3.375% | 200,000 | 163,920 | |||||||||
Enel SpA, 2.25% | 200,000 | 175,740 | |||||||||
339,660 | |||||||||||
Insurance — 0.1% | |||||||||||
Allianz SE, 3.375% | 100,000 | 103,509 | |||||||||
Allianz SE, 4.75% | 200,000 | 210,098 | |||||||||
AXA SA, 6.69% | 50,000 | 63,685 | |||||||||
Credit Agricole Assurances SA, 4.25% | 200,000 | 209,146 | |||||||||
Intesa Sanpaolo Vita SpA, 4.75% | 100,000 | 102,961 | |||||||||
689,399 | |||||||||||
Oil, Gas and Consumable Fuels — 0.1% | |||||||||||
Eni SpA, 3.375% | 500,000 | 429,872 |
Shares/ Principal Amount | Value | ||||||||||
Trading Companies and Distributors† | |||||||||||
Aircastle Ltd., 5.25%(6) | 520,000 | $ | 417,163 | ||||||||
TOTAL PREFERRED STOCKS (Cost $3,762,446) | 2,834,942 | ||||||||||
MUNICIPAL SECURITIES — 0.2% | |||||||||||
Bay Area Toll Authority Rev., 6.92%, 4/1/40 | $ | 130,000 | 164,518 | ||||||||
Metropolitan Transportation Authority Rev., 6.69%, 11/15/40 | 30,000 | 35,289 | |||||||||
Metropolitan Transportation Authority Rev., 6.81%, 11/15/40 | 15,000 | 17,984 | |||||||||
New Jersey Turnpike Authority Rev., 7.10%, 1/1/41 | 140,000 | 184,504 | |||||||||
New York City GO, 6.27%, 12/1/37 | 40,000 | 48,044 | |||||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 4.88%, 12/1/34 | 200,000 | 212,853 | |||||||||
Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60 | 175,000 | 134,065 | |||||||||
Rutgers The State University of New Jersey Rev., 5.67%, 5/1/40 | 130,000 | 149,081 | |||||||||
Sacramento Municipal Utility District Rev., 6.16%, 5/15/36 | 170,000 | 201,897 | |||||||||
San Francisco Public Utilities Commission Water Rev., 6.00%, 11/1/40 | 135,000 | 155,209 | |||||||||
State of California GO, 4.60%, 4/1/38 | 100,000 | 102,459 | |||||||||
State of California GO, 7.55%, 4/1/39 | 60,000 | 82,795 | |||||||||
State of California GO, 7.30%, 10/1/39 | 90,000 | 117,915 | |||||||||
TOTAL MUNICIPAL SECURITIES (Cost $1,454,781) | 1,606,613 | ||||||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.1% | |||||||||||
Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities† | |||||||||||
FHLMC, VRN, 2.72%, (12-month LIBOR plus 1.87%), 7/1/36 | 18,573 | 19,084 | |||||||||
FHLMC, VRN, 2.20%, (1-year H15T1Y plus 2.14%), 10/1/36 | 52,299 | 54,155 | |||||||||
FHLMC, VRN, 2.58%, (1-year H15T1Y plus 2.26%), 4/1/37 | 59,318 | 61,157 | |||||||||
FHLMC, VRN, 2.99%, (12-month LIBOR plus 1.88%), 7/1/41 | 37,100 | 38,330 | |||||||||
FNMA, VRN, 3.18%, (6-month LIBOR plus 1.57%), 6/1/35 | 36,333 | 37,295 | |||||||||
FNMA, VRN, 3.29%, (6-month LIBOR plus 1.57%), 6/1/35 | 26,918 | 27,634 | |||||||||
FNMA, VRN, 2.38%, (6-month LIBOR plus 1.54%), 9/1/35 | 7,605 | 7,792 | |||||||||
FNMA, VRN, 2.60%, (1-year H15T1Y plus 2.16%), 3/1/38 | 58,095 | 60,107 | |||||||||
305,554 | |||||||||||
Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 0.1% | |||||||||||
FHLMC, 6.00%, 2/1/38 | 21,868 | 23,832 | |||||||||
FNMA, 3.50%, 3/1/34 | 78,385 | 79,492 | |||||||||
GNMA, 9.00%, 4/20/25 | 161 | 163 | |||||||||
GNMA, 7.50%, 10/15/25 | 951 | 958 | |||||||||
GNMA, 6.00%, 4/15/26 | 296 | 311 | |||||||||
GNMA, 7.50%, 6/15/26 | 906 | 913 | |||||||||
GNMA, 7.00%, 12/15/27 | 6,155 | 6,167 | |||||||||
GNMA, 7.50%, 12/15/27 | 2,181 | 2,210 | |||||||||
GNMA, 6.00%, 5/15/28 | 3,926 | 4,129 | |||||||||
GNMA, 6.50%, 5/15/28 | 3,504 | 3,694 | |||||||||
GNMA, 7.00%, 5/15/31 | 9,024 | 9,789 | |||||||||
GNMA, 5.50%, 11/15/32 | 21,461 | 23,297 | |||||||||
GNMA, 6.50%, 10/15/38 | 392,891 | 441,105 |
Shares/ Principal Amount | Value | ||||||||||
GNMA, 4.50%, 6/15/41 | $ | 148,449 | $ | 156,355 | |||||||
752,415 | |||||||||||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Cost $1,016,947) | 1,057,969 | ||||||||||
EXCHANGE-TRADED FUNDS — 0.1% | |||||||||||
iShares Core S&P 500 ETF | 463 | 191,812 | |||||||||
iShares MSCI EAFE Value ETF | 12,732 | 564,409 | |||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $796,897) | 756,221 | ||||||||||
SHORT-TERM INVESTMENTS — 8.6% | |||||||||||
Certificates of Deposit — 0.9% | |||||||||||
Credit Agricole Corporate and Investment Bank, 2.31%, 8/1/22 (LOC: Credit Agricole SA)(6) | $ | 1,710,000 | 1,710,000 | ||||||||
Nordea Bank Abp, VRN, 2.62%, (SOFR plus 0.34%), 10/17/22(6) | 4,290,000 | 4,290,253 | |||||||||
Svenska Handelsbanken AB, VRN, 2.06%, (SOFR plus 0.53%), 5/19/23(6) | 825,000 | 823,988 | |||||||||
6,824,241 | |||||||||||
Commercial Paper(8) — 2.8% | |||||||||||
Australia & New Zealand Banking Group Ltd., 1.76%, 9/19/22(6) | 2,450,000 | 2,441,298 | |||||||||
BNP Paribas SA, VRN, 2.69%, (SOFR plus 0.41%), 12/13/22 | 1,000,000 | 1,000,000 | |||||||||
Canadian Imperial Bank of Commerce, 0.22%, 11/4/22(6) | 1,650,000 | 1,637,833 | |||||||||
Skandinaviska Enskilda Banken AB, Series GLOB, VRN, 1.93%, (SOFR plus 0.40%), 11/17/22(6) | 2,850,000 | 2,849,536 | |||||||||
Skandinaviska Enskilda Banken AB, Series GLOB, VRN, 1.97%, (SOFR plus 0.44%), 12/27/22(6) | 2,750,000 | 2,750,000 | |||||||||
Svenska Handelsbanken AB, 0.35%, 11/1/22(6) | 2,000,000 | 1,986,109 | |||||||||
Toyota Credit Canada, Inc., 1.24%, 8/16/22(6) | 5,000,000 | 4,994,082 | |||||||||
UBS AG, VRN, 2.69%, (SOFR plus 0.65%), 6/29/23(6) | 800,000 | 800,000 | |||||||||
Washington Morgan Capital Co. LLC, 2.65%, 10/27/22 (LOC: Goldman Sachs & Co.)(6) | 3,000,000 | 2,978,063 | |||||||||
21,436,921 | |||||||||||
Money Market Funds — 3.9% | |||||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 28,237,165 | 28,237,165 | |||||||||
State Street Navigator Securities Lending Government Money Market Portfolio(9) | 1,769,683 | 1,769,683 | |||||||||
30,006,848 | |||||||||||
Treasury Bills(8) — 1.0% | |||||||||||
U.S. Treasury Bills, 0.89%, 9/22/22 | $ | 2,000,000 | 1,994,071 | ||||||||
U.S. Treasury Bills, 1.93%, 4/20/23 | 5,600,000 | 5,486,088 | |||||||||
7,480,159 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $65,823,969) | 65,748,169 | ||||||||||
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $700,742,225) | 763,244,392 | ||||||||||
OTHER ASSETS AND LIABILITIES — (0.1)% | (854,188) | ||||||||||
TOTAL NET ASSETS — 100.0% | $ | 762,390,204 |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 108,578 | AUD | 150,611 | Credit Suisse AG | 9/14/22 | $ | 3,275 | |||||||||||||
CAD | 21,350 | USD | 16,522 | Goldman Sachs & Co. | 9/29/22 | 148 | ||||||||||||||
CAD | 30,405 | USD | 23,625 | Goldman Sachs & Co. | 9/29/22 | 113 | ||||||||||||||
CAD | 19,687 | USD | 15,174 | Goldman Sachs & Co. | 9/29/22 | 196 | ||||||||||||||
CAD | 18,914 | USD | 14,576 | Goldman Sachs & Co. | 9/29/22 | 191 | ||||||||||||||
CAD | 6,670 | USD | 5,088 | Goldman Sachs & Co. | 9/29/22 | 120 | ||||||||||||||
CAD | 23,914 | USD | 18,341 | Goldman Sachs & Co. | 9/29/22 | 329 | ||||||||||||||
USD | 2,018,055 | CAD | 2,539,299 | UBS AG | 9/14/22 | 35,311 | ||||||||||||||
USD | 536,235 | CAD | 697,591 | Goldman Sachs & Co. | 9/29/22 | (8,409) | ||||||||||||||
USD | 24,490 | CAD | 31,826 | Goldman Sachs & Co. | 9/29/22 | (358) | ||||||||||||||
USD | 67,503 | CAD | 87,521 | Goldman Sachs & Co. | 9/29/22 | (829) | ||||||||||||||
USD | 53,876 | CAD | 69,422 | Goldman Sachs & Co. | 9/29/22 | (326) | ||||||||||||||
USD | 18,360 | CAD | 23,657 | Goldman Sachs & Co. | 9/29/22 | (111) | ||||||||||||||
USD | 22,240 | CAD | 28,651 | Goldman Sachs & Co. | 9/29/22 | (129) | ||||||||||||||
USD | 59,818 | CAD | 77,053 | Goldman Sachs & Co. | 9/29/22 | (341) | ||||||||||||||
USD | 25,140 | CAD | 32,383 | Goldman Sachs & Co. | 9/29/22 | (143) | ||||||||||||||
USD | 4,298 | CAD | 5,532 | Goldman Sachs & Co. | 9/29/22 | (21) | ||||||||||||||
USD | 3,646 | CAD | 4,756 | Goldman Sachs & Co. | 9/29/22 | (67) | ||||||||||||||
USD | 28,908 | CAD | 37,435 | Goldman Sachs & Co. | 9/29/22 | (319) | ||||||||||||||
USD | 21,230 | CAD | 27,367 | Goldman Sachs & Co. | 9/29/22 | (137) | ||||||||||||||
USD | 15,340 | CAD | 19,774 | Goldman Sachs & Co. | 9/29/22 | (99) | ||||||||||||||
USD | 14,554 | CAD | 18,766 | Goldman Sachs & Co. | 9/29/22 | (98) | ||||||||||||||
USD | 23,642 | CAD | 30,269 | Goldman Sachs & Co. | 9/29/22 | 9 | ||||||||||||||
USD | 4,791 | CAD | 6,135 | Goldman Sachs & Co. | 9/29/22 | 2 | ||||||||||||||
USD | 26,314 | CAD | 33,887 | Morgan Stanley | 9/29/22 | (143) | ||||||||||||||
USD | 28,994 | CAD | 37,338 | Morgan Stanley | 9/29/22 | (157) | ||||||||||||||
USD | 417,866 | CHF | 403,249 | Morgan Stanley | 9/14/22 | (7,121) | ||||||||||||||
USD | 1,570,811 | CNY | 10,482,019 | Morgan Stanley | 9/14/22 | 16,979 | ||||||||||||||
USD | 141,757 | DKK | 980,793 | UBS AG | 9/14/22 | 6,686 | ||||||||||||||
EUR | 67,810 | USD | 71,321 | JPMorgan Chase Bank N.A. | 9/30/22 | (1,729) | ||||||||||||||
EUR | 7,904 | USD | 8,277 | JPMorgan Chase Bank N.A. | 9/30/22 | (165) | ||||||||||||||
EUR | 11,438 | USD | 11,780 | JPMorgan Chase Bank N.A. | 9/30/22 | (41) | ||||||||||||||
EUR | 10,345 | USD | 10,601 | JPMorgan Chase Bank N.A. | 9/30/22 | 16 | ||||||||||||||
EUR | 61,111 | USD | 61,926 | JPMorgan Chase Bank N.A. | 9/30/22 | 791 | ||||||||||||||
USD | 10,016,712 | EUR | 9,319,163 | JPMorgan Chase Bank N.A. | 9/14/22 | 463,542 | ||||||||||||||
USD | 2,352,442 | EUR | 2,224,784 | JPMorgan Chase Bank N.A. | 9/30/22 | 69,185 | ||||||||||||||
USD | 294,695 | EUR | 278,703 | JPMorgan Chase Bank N.A. | 9/30/22 | 8,667 | ||||||||||||||
USD | 9,545 | EUR | 8,959 | JPMorgan Chase Bank N.A. | 9/30/22 | 351 | ||||||||||||||
USD | 59,848 | EUR | 56,422 | JPMorgan Chase Bank N.A. | 9/30/22 | 1,943 | ||||||||||||||
USD | 5,934 | EUR | 5,812 | JPMorgan Chase Bank N.A. | 9/30/22 | (30) | ||||||||||||||
USD | 9,168 | EUR | 8,974 | JPMorgan Chase Bank N.A. | 9/30/22 | (41) | ||||||||||||||
USD | 61,570 | EUR | 60,827 | JPMorgan Chase Bank N.A. | 9/30/22 | (857) | ||||||||||||||
USD | 11,674 | EUR | 11,438 | JPMorgan Chase Bank N.A. | 9/30/22 | (64) | ||||||||||||||
USD | 90,867 | EUR | 88,951 | JPMorgan Chase Bank N.A. | 9/30/22 | (422) | ||||||||||||||
USD | 9,214 | EUR | 9,020 | JPMorgan Chase Bank N.A. | 9/30/22 | (43) | ||||||||||||||
USD | 7,803 | EUR | 7,625 | JPMorgan Chase Bank N.A. | 9/30/22 | (23) | ||||||||||||||
USD | 12,322 | EUR | 11,996 | JPMorgan Chase Bank N.A. | 9/30/22 | 11 | ||||||||||||||
USD | 59,025 | EUR | 57,478 | JPMorgan Chase Bank N.A. | 9/30/22 | 36 | ||||||||||||||
USD | 8,748 | EUR | 8,555 | JPMorgan Chase Bank N.A. | 9/30/22 | (32) | ||||||||||||||
USD | 72,658 | EUR | 71,059 | JPMorgan Chase Bank N.A. | 9/30/22 | (269) |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
GBP | 13,495 | USD | 16,584 | Bank of America N.A. | 9/30/22 | $ | (127) | |||||||||||||
GBP | 19,618 | USD | 23,665 | Bank of America N.A. | 9/30/22 | 259 | ||||||||||||||
GBP | 11,807 | USD | 14,118 | Bank of America N.A. | 9/30/22 | 280 | ||||||||||||||
GBP | 9,728 | USD | 11,557 | Bank of America N.A. | 9/30/22 | 305 | ||||||||||||||
GBP | 20,672 | USD | 24,947 | Bank of America N.A. | 9/30/22 | 261 | ||||||||||||||
GBP | 8,805 | USD | 10,604 | Bank of America N.A. | 9/30/22 | 133 | ||||||||||||||
USD | 290,281 | GBP | 231,368 | Bank of America N.A. | 9/14/22 | 8,245 | ||||||||||||||
USD | 492,275 | GBP | 400,699 | Bank of America N.A. | 9/30/22 | 3,644 | ||||||||||||||
USD | 14,934 | GBP | 12,221 | Bank of America N.A. | 9/30/22 | 31 | ||||||||||||||
USD | 12,539 | GBP | 10,320 | Bank of America N.A. | 9/30/22 | (45) | ||||||||||||||
USD | 13,969 | GBP | 11,603 | Bank of America N.A. | 9/30/22 | (180) | ||||||||||||||
USD | 12,207 | GBP | 10,141 | Bank of America N.A. | 9/30/22 | (159) | ||||||||||||||
USD | 11,887 | GBP | 9,933 | Bank of America N.A. | 9/30/22 | (226) | ||||||||||||||
IDR | 1,619,453,765 | USD | 111,941 | Goldman Sachs & Co. | 9/14/22 | (2,839) | ||||||||||||||
ILS | 118,491 | USD | 35,844 | UBS AG | 9/14/22 | (897) | ||||||||||||||
JPY | 925,194,430 | USD | 6,920,135 | Bank of America N.A. | 9/14/22 | 40,492 | ||||||||||||||
JPY | 580,125 | USD | 4,295 | Bank of America N.A. | 9/30/22 | 76 | ||||||||||||||
JPY | 795,600 | USD | 5,888 | Bank of America N.A. | 9/30/22 | 106 | ||||||||||||||
JPY | 854,505 | USD | 6,190 | Bank of America N.A. | 9/30/22 | 247 | ||||||||||||||
USD | 3,731,133 | JPY | 489,928,140 | Bank of America N.A. | 9/14/22 | 45,197 | ||||||||||||||
USD | 127,502 | JPY | 17,105,400 | Bank of America N.A. | 9/30/22 | (1,362) | ||||||||||||||
USD | 6,085 | JPY | 822,120 | Bank of America N.A. | 9/30/22 | (108) | ||||||||||||||
USD | 3,232 | JPY | 444,210 | Bank of America N.A. | 9/30/22 | (114) | ||||||||||||||
KRW | 404,106,648 | USD | 322,601 | Goldman Sachs & Co. | 9/14/22 | (12,424) | ||||||||||||||
MXN | 9,190,000 | USD | 461,879 | Goldman Sachs & Co. | 9/14/22 | (14,610) | ||||||||||||||
USD | 402,057 | MXN | 8,032,448 | Goldman Sachs & Co. | 9/14/22 | 11,125 | ||||||||||||||
USD | 147,643 | MYR | 648,861 | Goldman Sachs & Co. | 9/14/22 | 1,942 | ||||||||||||||
NOK | 71,316 | USD | 6,993 | UBS AG | 9/30/22 | 395 | ||||||||||||||
NOK | 91,422 | USD | 9,081 | UBS AG | 9/30/22 | 390 | ||||||||||||||
NOK | 188,106 | USD | 18,874 | UBS AG | 9/30/22 | 612 | ||||||||||||||
NOK | 83,415 | USD | 8,418 | UBS AG | 9/30/22 | 223 | ||||||||||||||
NOK | 52,395 | USD | 5,293 | UBS AG | 9/30/22 | 134 | ||||||||||||||
NOK | 57,661 | USD | 5,861 | UBS AG | 9/30/22 | 112 | ||||||||||||||
USD | 240,643 | NOK | 2,395,278 | UBS AG | 9/30/22 | (7,489) | ||||||||||||||
USD | 8,797 | NOK | 86,282 | UBS AG | 9/30/22 | (142) | ||||||||||||||
USD | 12,749 | NOK | 128,778 | UBS AG | 9/30/22 | (592) | ||||||||||||||
SEK | 1,125,577 | USD | 115,297 | UBS AG | 9/14/22 | (4,322) | ||||||||||||||
USD | 425,273 | THB | 14,610,246 | Goldman Sachs & Co. | 9/14/22 | 27,179 | ||||||||||||||
$ | 681,129 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
Euro-Bobl 5-Year Bonds | 15 | September 2022 | $ | 1,960,342 | $ | 40,144 | ||||||||
Korean Treasury 10-Year Bonds | 10 | September 2022 | 890,617 | 49,173 | ||||||||||
U.K. Gilt 10-Year Bonds | 26 | September 2022 | 3,741,909 | 3,763 | ||||||||||
U.S. Treasury 10-Year Ultra Notes | 46 | September 2022 | 6,037,500 | 68,973 | ||||||||||
U.S. Treasury 2-Year Notes | 80 | September 2022 | 16,836,875 | (70,781) | ||||||||||
U.S. Treasury 5-Year Notes | 131 | September 2022 | 14,898,180 | 187,753 | ||||||||||
U.S. Treasury 10-Year Notes | 32 | September 2022 | 3,876,500 | 4,806 | ||||||||||
U.S. Treasury Long Bonds | 28 | September 2022 | 4,032,000 | 132,945 | ||||||||||
$ | 52,273,923 | $ | 416,776 |
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS | |||||||||||||||||||||||
Reference Entity | Type | Fixed Rate Received (Paid) Quarterly | Termination Date | Notional Amount | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Value^ | ||||||||||||||||
Markit CDX North America High Yield Index Series 37 | Buy | (5.00)% | 12/20/26 | $ | 11,929,500 | $ | (494,580) | $ | 139,096 | $ | (355,484) |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
ADR | - | American Depositary Receipt | ||||||
AUD | - | Australian Dollar | ||||||
CAD | - | Canadian Dollar | ||||||
CDX | - | Credit Derivatives Indexes | ||||||
CHF | - | Swiss Franc | ||||||
CNY | - | Chinese Yuan | ||||||
CZK | - | Czech Koruna | ||||||
DKK | - | Danish Krone | ||||||
EUR | - | Euro | ||||||
FHLMC | - | Federal Home Loan Mortgage Corporation | ||||||
FNMA | - | Federal National Mortgage Association | ||||||
GBP | - | British Pound | ||||||
GNMA | - | Government National Mortgage Association | ||||||
GO | - | General Obligation | ||||||
H15T1Y | - | Constant Maturity U.S. Treasury Note Yield Curve Rate Index | ||||||
IDR | - | Indonesian Rupiah | ||||||
ILS | - | Israeli Shekel | ||||||
IO | - | Interest Only | ||||||
JPY | - | Japanese Yen | ||||||
KRW | - | South Korean Won | ||||||
LIBOR | - | London Interbank Offered Rate | ||||||
LOC | - | Letter of Credit | ||||||
MXN | - | Mexican Peso | ||||||
MYR | - | Malaysian Ringgit | ||||||
NOK | - | Norwegian Krone | ||||||
PLN | - | Polish Zloty | ||||||
SEK | - | Swedish Krona | ||||||
SEQ | - | Sequential Payer | ||||||
SGD | - | Singapore Dollar | ||||||
SOFR | - | Secured Overnight Financing Rate | ||||||
THB | - | Thai Baht | ||||||
USD | - | United States Dollar | ||||||
VRDN | - | Variable Rate Demand Note. The instrument may be payable upon demand and 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. The date of the demand feature is disclosed. | ||||||
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. The security's effective maturity date may be shorter than the final maturity date shown. |
Statement of Assets and Liabilities |
JULY 31, 2022 | |||||
Assets | |||||
Investment securities - unaffiliated, at value (cost of $376,418,769) — including $2,300,536 of securities on loan | $ | 400,420,789 | |||
Investment securities - affiliated, at value (cost of $322,553,773) | 361,053,920 | ||||
Investment made with cash collateral received for securities on loan, at value (cost of $1,769,683) | 1,769,683 | ||||
Total investment securities, at value (cost of $700,742,225) | 763,244,392 | ||||
Foreign currency holdings, at value (cost of $66,026) | 60,310 | ||||
Foreign deposits with broker for futures contracts, at value (cost of $70,208) | 69,753 | ||||
Receivable for investments sold | 1,416,877 | ||||
Receivable for capital shares sold | 193,628 | ||||
Receivable for variation margin on futures contracts | 87,123 | ||||
Unrealized appreciation on forward foreign currency exchange contracts | 749,289 | ||||
Interest and dividends receivable | 1,212,156 | ||||
Securities lending receivable | 2,537 | ||||
Other assets | 17,787 | ||||
767,053,852 | |||||
Liabilities | |||||
Disbursements in excess of demand deposit cash | 439,751 | ||||
Payable for collateral received for forward foreign currency exchange contracts | 20,000 | ||||
Payable for collateral received for securities on loan | 1,769,683 | ||||
Payable for investments purchased | 435,100 | ||||
Payable for capital shares redeemed | 1,379,534 | ||||
Payable for variation margin on swap agreements | 16,148 | ||||
Unrealized depreciation on forward foreign currency exchange contracts | 68,160 | ||||
Accrued management fees | 380,003 | ||||
Distribution and service fees payable | 85,376 | ||||
Accrued other expenses | 69,893 | ||||
4,663,648 | |||||
Net Assets | $ | 762,390,204 | |||
Net Assets Consist of: | |||||
Capital (par value and paid-in surplus) | $ | 677,610,036 | |||
Distributable earnings | 84,780,168 | ||||
$ | 762,390,204 |
Net Assets | Shares Outstanding | Net Asset Value Per Share* | |||||||||
Investor Class, $0.01 Par Value | $262,310,400 | 43,741,689 | $6.00 | ||||||||
I Class, $0.01 Par Value | $56,678,533 | 9,445,926 | $6.00 | ||||||||
A Class, $0.01 Par Value | $280,223,119 | 46,930,837 | $5.97 | ||||||||
C Class, $0.01 Par Value | $18,763,517 | 3,227,630 | $5.81 | ||||||||
R Class, $0.01 Par Value | $30,086,150 | 5,086,612 | $5.91 | ||||||||
R5 Class, $0.01 Par Value | $469,964 | 78,268 | $6.00 | ||||||||
R6 Class, $0.01 Par Value | $113,858,521 | 19,014,742 | $5.99 |
Statement of Operations |
YEAR ENDED JULY 31, 2022 | |||||
Investment Income (Loss) | |||||
Income: | |||||
Income distributions from affiliated funds | $ | 8,652,733 | |||
Interest (net of foreign taxes withheld of $4,701) | 6,197,244 | ||||
Dividends (net of foreign taxes withheld of $168,684) | 4,699,609 | ||||
Securities lending, net | 15,078 | ||||
19,564,664 | |||||
Expenses: | |||||
Management fees | 8,972,129 | ||||
Distribution and service fees: | |||||
A Class | 782,091 | ||||
C Class | 240,813 | ||||
R Class | 176,090 | ||||
Directors' fees and expenses | 21,451 | ||||
Other expenses | 133,632 | ||||
10,326,206 | |||||
Fees waived(1) | (3,638,707) | ||||
6,687,499 | |||||
Net investment income (loss) | 12,877,165 | ||||
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) on: | |||||
Investment transactions (including $12,639,267 from affiliated funds and net of foreign tax expenses paid (refunded) of $2,702) | 37,689,460 | ||||
Forward foreign currency exchange contract transactions | 2,946,847 | ||||
Futures contract transactions | (1,446,415) | ||||
Swap agreement transactions | (77,725) | ||||
Foreign currency translation transactions | (101,947) | ||||
Capital gain distributions received from affiliated funds | 69,690 | ||||
39,079,910 | |||||
Change in net unrealized appreciation (depreciation) on: | |||||
Investments (including $(63,041,503) from affiliated funds and (increase) decrease in accrued foreign taxes of $3,365) | (141,579,155) | ||||
Forward foreign currency exchange contracts | 436,591 | ||||
Futures contracts | 225,201 | ||||
Swap agreements | 72,242 | ||||
Translation of assets and liabilities in foreign currencies | (37,879) | ||||
(140,883,000) | |||||
Net realized and unrealized gain (loss) | (101,803,090) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (88,925,925) |
Statement of Changes in Net Assets |
YEARS ENDED JULY 31, 2022 AND JULY 31, 2021 | ||||||||
Increase (Decrease) in Net Assets | July 31, 2022 | July 31, 2021 | ||||||
Operations | ||||||||
Net investment income (loss) | $ | 12,877,165 | $ | 8,463,127 | ||||
Net realized gain (loss) | 39,079,910 | 78,237,108 | ||||||
Change in net unrealized appreciation (depreciation) | (140,883,000) | 111,822,338 | ||||||
Net increase (decrease) in net assets resulting from operations | (88,925,925) | 198,522,573 | ||||||
Distributions to Shareholders | ||||||||
From earnings: | ||||||||
Investor Class | (32,512,297) | (16,064,506) | ||||||
I Class | (7,206,641) | (3,522,656) | ||||||
A Class | (32,557,863) | (15,023,804) | ||||||
C Class | (2,437,089) | (1,773,159) | ||||||
R Class | (3,603,136) | (1,822,110) | ||||||
R5 Class | (76,603) | (388,300) | ||||||
R6 Class | (14,106,228) | (7,105,756) | ||||||
Decrease in net assets from distributions | (92,499,857) | (45,700,291) | ||||||
Capital Share Transactions | ||||||||
Net increase (decrease) in net assets from capital share transactions (Note 5) | (12,490,206) | (49,353,471) | ||||||
Net increase (decrease) in net assets | (193,915,988) | 103,468,811 | ||||||
Net Assets | ||||||||
Beginning of period | 956,306,192 | 852,837,381 | ||||||
End of period | $ | 762,390,204 | $ | 956,306,192 |
Notes to Financial Statements |
Remaining Contractual Maturity of Agreements | |||||||||||||||||
Overnight and Continuous | <30 days | Between 30 & 90 days | >90 days | Total | |||||||||||||
Securities Lending Transactions(1) | |||||||||||||||||
Common Stocks | $ | 1,769,683 | — | — | — | $ | 1,769,683 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 1,769,683 |
Management Fee Schedule Range | Effective Annual Management Fee | ||||||||||
Before Waiver | After Waiver | ||||||||||
Investor Class | 0.90% to 1.10% | 1.10% | 0.68% | ||||||||
I Class | 0.70% to 0.90% | 0.90% | 0.48% | ||||||||
A Class | 0.90% to 1.10% | 1.10% | 0.68% | ||||||||
C Class | 0.90% to 1.10% | 1.10% | 0.68% | ||||||||
R Class | 0.90% to 1.10% | 1.10% | 0.68% | ||||||||
R5 Class | 0.70% to 0.90% | 0.90% | 0.48% | ||||||||
R6 Class | 0.55% to 0.75% | 0.75% | 0.33% |
Year ended July 31, 2022 | Year ended July 31, 2021 | |||||||||||||
Shares | Amount | Shares | Amount | |||||||||||
Investor Class/Shares Authorized | 790,000,000 | 790,000,000 | ||||||||||||
Sold | 2,683,906 | $ | 18,174,808 | 4,099,547 | $ | 28,587,905 | ||||||||
Issued in reinvestment of distributions | 4,690,626 | 31,891,405 | 2,335,225 | 15,641,289 | ||||||||||
Redeemed | (8,593,033) | (57,286,790) | (9,175,667) | (62,598,014) | ||||||||||
(1,218,501) | (7,220,577) | (2,740,895) | (18,368,820) | |||||||||||
I Class/Shares Authorized | 380,000,000 | 380,000,000 | ||||||||||||
Sold | 1,158,216 | 7,809,710 | 1,397,614 | 9,624,673 | ||||||||||
Issued in reinvestment of distributions | 1,057,682 | 7,193,665 | 523,495 | 3,516,603 | ||||||||||
Redeemed | (2,449,443) | (16,374,589) | (2,293,806) | (15,588,905) | ||||||||||
(233,545) | (1,371,214) | (372,697) | (2,447,629) | |||||||||||
A Class/Shares Authorized | 670,000,000 | 670,000,000 | ||||||||||||
Sold | 3,830,446 | 25,314,440 | 5,905,766 | 40,402,029 | ||||||||||
Issued in reinvestment of distributions | 4,678,532 | 31,751,010 | 2,195,878 | 14,650,103 | ||||||||||
Redeemed | (8,108,208) | (54,347,540) | (7,941,893) | (54,075,671) | ||||||||||
400,770 | 2,717,910 | 159,751 | 976,461 | |||||||||||
C Class/Shares Authorized | 160,000,000 | 160,000,000 | ||||||||||||
Sold | 329,905 | 2,146,536 | 471,554 | 3,147,225 | ||||||||||
Issued in reinvestment of distributions | 367,278 | 2,437,089 | 270,676 | 1,768,799 | ||||||||||
Redeemed | (1,457,043) | (9,394,111) | (3,238,938) | (21,637,082) | ||||||||||
(759,860) | (4,810,486) | (2,496,708) | (16,721,058) | |||||||||||
R Class/Shares Authorized | 90,000,000 | 90,000,000 | ||||||||||||
Sold | 559,384 | 3,679,379 | 597,422 | 4,045,578 | ||||||||||
Issued in reinvestment of distributions | 535,592 | 3,603,045 | 275,380 | 1,821,434 | ||||||||||
Redeemed | (1,257,969) | (8,044,402) | (1,423,460) | (9,788,870) | ||||||||||
(162,993) | (761,978) | (550,658) | (3,921,858) | |||||||||||
R5 Class/Shares Authorized | 50,000,000 | 50,000,000 | ||||||||||||
Sold | 70,089 | 507,713 | 98,060 | 678,487 | ||||||||||
Issued in reinvestment of distributions | 10,966 | 76,603 | 57,800 | 388,300 | ||||||||||
Redeemed | (1,051,591) | (7,946,038) | (220,043) | (1,476,149) | ||||||||||
(970,536) | (7,361,722) | (64,183) | (409,362) | |||||||||||
R6 Class/Shares Authorized | 295,000,000 | 295,000,000 | ||||||||||||
Sold | 3,683,945 | 24,907,172 | 2,925,930 | 20,290,100 | ||||||||||
Issued in reinvestment of distributions | 2,082,424 | 14,106,228 | 1,060,303 | 7,105,756 | ||||||||||
Redeemed | (4,946,052) | (32,695,539) | (5,222,882) | (35,857,061) | ||||||||||
820,317 | 6,317,861 | (1,236,649) | (8,461,205) | |||||||||||
Net increase (decrease) | (2,124,348) | $ | (12,490,206) | (7,302,039) | $ | (49,353,471) |
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Affiliated Funds | $ | 361,053,920 | — | — | |||||||
Common Stocks | 149,344,332 | $ | 46,478,906 | — | |||||||
U.S. Treasury Securities | — | 61,930,082 | — | ||||||||
Corporate Bonds | — | 26,194,619 | — | ||||||||
Sovereign Governments and Agencies | — | 17,806,485 | — | ||||||||
Collateralized Loan Obligations | — | 14,774,128 | — | ||||||||
Asset-Backed Securities | — | 6,662,795 | — | ||||||||
Commercial Mortgage-Backed Securities | — | 3,642,483 | — | ||||||||
Collateralized Mortgage Obligations | — | 3,352,728 | — | ||||||||
Preferred Stocks | — | 2,834,942 | — | ||||||||
Municipal Securities | — | 1,606,613 | — | ||||||||
U.S. Government Agency Mortgage-Backed Securities | — | 1,057,969 | — | ||||||||
Exchange-Traded Funds | 756,221 | — | — | ||||||||
Short-Term Investments | 30,006,848 | 35,741,321 | — | ||||||||
$ | 541,161,321 | $ | 222,083,071 | — | |||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 394,477 | $ | 93,080 | — | ||||||
Forward Foreign Currency Exchange Contracts | — | 749,289 | — | ||||||||
$ | 394,477 | $ | 842,369 | — | |||||||
Liabilities | |||||||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 70,781 | — | — | |||||||
Swap Agreements | — | $ | 355,484 | — | |||||||
Forward Foreign Currency Exchange Contracts | — | 68,160 | — | ||||||||
$ | 70,781 | $ | 423,644 | — |
Asset Derivatives | Liability Derivatives | |||||||||||||
Type of Risk Exposure | Location on Statement of Assets and Liabilities | Value | Location on Statement of Assets and Liabilities | Value | ||||||||||
Credit Risk | Receivable for variation margin on swap agreements* | — | Payable for variation margin on swap agreements* | $ | 16,148 | |||||||||
Foreign Currency Risk | Unrealized appreciation on forward foreign currency exchange contracts | $ | 749,289 | Unrealized depreciation on forward foreign currency exchange contracts | 68,160 | |||||||||
Interest Rate Risk | Receivable for variation margin on futures contracts* | 87,123 | Payable for variation margin on futures contracts* | — | ||||||||||
$ | 836,412 | $ | 84,308 |
Net Realized Gain (Loss) | Change in Net Unrealized Appreciation (Depreciation) | |||||||||||||
Type of Risk Exposure | Location on Statement of Operations | Value | Location on Statement of Operations | Value | ||||||||||
Credit Risk | Net realized gain (loss) on swap agreement transactions | $ | (77,725) | Change in net unrealized appreciation (depreciation) on swap agreements | $ | 72,242 | ||||||||
Foreign Currency Risk | Net realized gain (loss) on forward foreign currency exchange contract transactions | 2,946,847 | Change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts | 436,591 | ||||||||||
Interest Rate Risk | Net realized gain (loss) on futures contract transactions | (1,446,415) | Change in net unrealized appreciation (depreciation) on futures contracts | 225,201 | ||||||||||
$ | 1,422,707 | $ | 734,034 |
2022 | 2021 | |||||||
Distributions Paid From | ||||||||
Ordinary income | $ | 34,611,183 | $ | 18,914,522 | ||||
Long-term capital gains | $ | 57,888,674 | $ | 26,785,769 |
Federal tax cost of investments | $ | 703,780,869 | |||
Gross tax appreciation of investments | $ | 96,175,098 | |||
Gross tax depreciation of investments | (36,711,575) | ||||
Net tax appreciation (depreciation) of investments | 59,463,523 | ||||
Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies | 244,805 | ||||
Net tax appreciation (depreciation) | $ | 59,708,328 | |||
Other book-to-tax adjustments | $ | (84,755) | |||
Undistributed ordinary income | — | ||||
Accumulated long-term gains | $ | 27,534,561 | |||
Post-October capital loss deferral | $ | (2,377,966) |
Affiliated Fund(1) | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Distributions Received(2) | ||||||||||||||||||
American Century Diversified Corporate Bond ETF | $ | 28,619 | — | — | $ | (2,906) | $ | 25,713 | 541 | — | $ | 509 | ||||||||||||||
American Century Emerging Markets Bond ETF | — | $ | 11,533 | — | (2,501) | 9,032 | 232 | — | 402 | |||||||||||||||||
American Century Focused Dynamic Growth ETF(3) | 27,285 | 2,337 | $ | 187 | (8,218) | 21,217 | 355 | $ | 20 | — | ||||||||||||||||
American Century Focused Large Cap Value ETF | 43,638 | 1,333 | 14,705 | (1,842) | 28,424 | 483 | 797 | 1,353 | ||||||||||||||||||
American Century Multisector Income ETF | — | 41,715 | — | (4,338) | 37,377 | 833 | — | 1,109 | ||||||||||||||||||
American Century Quality Diversified International ETF | 30,472 | 6,082 | 241 | (7,594) | 28,719 | 700 | (2) | 944 | ||||||||||||||||||
American Century STOXX U.S. Quality Growth ETF | 47,359 | 2,783 | 8,663 | (9,719) | 31,760 | 508 | 4,165 | 142 | ||||||||||||||||||
American Century STOXX U.S. Quality Value ETF | 62,991 | 4,470 | 20,706 | (5,187) | 41,568 | 854 | 3,468 | 945 | ||||||||||||||||||
Avantis Emerging Markets Equity ETF | 20,680 | 20,505 | 1,305 | (7,977) | 31,903 | 614 | (22) | 1,021 | ||||||||||||||||||
Avantis International Equity ETF | 30,672 | 5,316 | 386 | (5,673) | 29,929 | 560 | (4) | 997 | ||||||||||||||||||
Avantis International Small Cap Value ETF | 10,202 | 256 | 754 | (1,505) | 8,199 | 146 | 199 | 274 | ||||||||||||||||||
Avantis U.S. Equity ETF | 62,687 | 437 | 7,679 | (6,144) | 49,301 | 694 | 3,969 | 735 | ||||||||||||||||||
Avantis U.S. Small Cap Value ETF | 19,530 | 173 | 2,353 | 562 | 17,912 | 236 | 49 | 291 | ||||||||||||||||||
$ | 384,135 | $ | 96,940 | $ | 56,979 | $ | (63,042) | $ | 361,054 | 6,756 | $ | 12,639 | $ | 8,722 |
Financial Highlights |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
Investor Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.40 | 0.10 | (0.76) | (0.66) | (0.11) | (0.63) | (0.74) | $6.00 | (9.97)% | 0.70% | 1.12% | 1.55% | 1.13% | 39% | $262,310 | ||||||||||||||||||||||||||||||||
2021 | $6.25 | 0.07 | 1.43 | 1.50 | (0.07) | (0.28) | (0.35) | $7.40 | 24.69% | 0.73% | 1.11% | 1.01% | 0.63% | 48% | $332,602 | ||||||||||||||||||||||||||||||||
2020 | $6.57 | 0.07 | 0.46 | 0.53 | (0.08) | (0.77) | (0.85) | $6.25 | 8.42% | 0.84% | 1.11% | 1.13% | 0.86% | 99% | $297,963 | ||||||||||||||||||||||||||||||||
2019 | $7.02 | 0.09 | 0.13 | 0.22 | (0.10) | (0.57) | (0.67) | $6.57 | 4.36% | 1.06% | 1.11% | 1.42% | 1.37% | 68% | $314,567 | ||||||||||||||||||||||||||||||||
2018(3) | $7.51 | 0.06 | 0.16 | 0.22 | (0.06) | (0.65) | (0.71) | $7.02 | 3.22% | 1.09%(4) | 1.09%(4) | 1.25%(4) | 1.25%(4) | 55% | $444,259 | ||||||||||||||||||||||||||||||||
2017 | $6.67 | 0.08 | 0.93 | 1.01 | (0.09) | (0.08) | (0.17) | $7.51 | 15.42% | 1.08% | 1.08% | 1.20% | 1.20% | 81% | $523,241 | ||||||||||||||||||||||||||||||||
I Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.40 | 0.12 | (0.77) | (0.65) | (0.12) | (0.63) | (0.75) | $6.00 | (9.80)% | 0.50% | 0.92% | 1.75% | 1.33% | 39% | $56,679 | ||||||||||||||||||||||||||||||||
2021 | $6.25 | 0.08 | 1.44 | 1.52 | (0.09) | (0.28) | (0.37) | $7.40 | 24.93% | 0.53% | 0.91% | 1.21% | 0.83% | 48% | $71,639 | ||||||||||||||||||||||||||||||||
2020 | $6.57 | 0.08 | 0.46 | 0.54 | (0.09) | (0.77) | (0.86) | $6.25 | 8.64% | 0.64% | 0.91% | 1.33% | 1.06% | 99% | $62,820 | ||||||||||||||||||||||||||||||||
2019 | $7.02 | 0.11 | 0.13 | 0.24 | (0.12) | (0.57) | (0.69) | $6.57 | 4.55% | 0.86% | 0.91% | 1.62% | 1.57% | 68% | $76,202 | ||||||||||||||||||||||||||||||||
2018(3) | $7.52 | 0.07 | 0.15 | 0.22 | (0.07) | (0.65) | (0.72) | $7.02 | 3.23% | 0.89%(4) | 0.89%(4) | 1.45%(4) | 1.45%(4) | 55% | $125,345 | ||||||||||||||||||||||||||||||||
2017 | $6.68 | 0.10 | 0.92 | 1.02 | (0.10) | (0.08) | (0.18) | $7.52 | 15.64% | 0.88% | 0.88% | 1.40% | 1.40% | 81% | $135,618 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
A Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.37 | 0.09 | (0.77) | (0.68) | (0.09) | (0.63) | (0.72) | $5.97 | (10.26)% | 0.95% | 1.37% | 1.30% | 0.88% | 39% | $280,223 | ||||||||||||||||||||||||||||||||
2021 | $6.22 | 0.05 | 1.44 | 1.49 | (0.06) | (0.28) | (0.34) | $7.37 | 24.48% | 0.98% | 1.36% | 0.76% | 0.38% | 48% | $342,835 | ||||||||||||||||||||||||||||||||
2020 | $6.55 | 0.05 | 0.46 | 0.51 | (0.07) | (0.77) | (0.84) | $6.22 | 8.04% | 1.09% | 1.36% | 0.88% | 0.61% | 99% | $288,517 | ||||||||||||||||||||||||||||||||
2019 | $7.00 | 0.08 | 0.13 | 0.21 | (0.09) | (0.57) | (0.66) | $6.55 | 4.11% | 1.31% | 1.36% | 1.17% | 1.12% | 68% | $304,644 | ||||||||||||||||||||||||||||||||
2018(3) | $7.49 | 0.05 | 0.16 | 0.21 | (0.05) | (0.65) | (0.70) | $7.00 | 3.04% | 1.34%(4) | 1.34%(4) | 1.00%(4) | 1.00%(4) | 55% | $347,290 | ||||||||||||||||||||||||||||||||
2017 | $6.66 | 0.07 | 0.91 | 0.98 | (0.07) | (0.08) | (0.15) | $7.49 | 15.01% | 1.33% | 1.33% | 0.95% | 0.95% | 81% | $398,519 | ||||||||||||||||||||||||||||||||
C Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.19 | 0.03 | (0.73) | (0.70) | (0.05) | (0.63) | (0.68) | $5.81 | (10.90)% | 1.70% | 2.12% | 0.55% | 0.13% | 39% | $18,764 | ||||||||||||||||||||||||||||||||
2021 | $6.10 | —(5) | 1.39 | 1.39 | (0.02) | (0.28) | (0.30) | $7.19 | 23.55% | 1.73% | 2.11% | 0.01% | (0.37)% | 48% | $28,683 | ||||||||||||||||||||||||||||||||
2020 | $6.45 | 0.01 | 0.45 | 0.46 | (0.04) | (0.77) | (0.81) | $6.10 | 7.18% | 1.84% | 2.11% | 0.13% | (0.14)% | 99% | $39,523 | ||||||||||||||||||||||||||||||||
2019 | $6.91 | 0.03 | 0.12 | 0.15 | (0.04) | (0.57) | (0.61) | $6.45 | 3.30% | 2.06% | 2.11% | 0.42% | 0.37% | 68% | $48,515 | ||||||||||||||||||||||||||||||||
2018(3) | $7.42 | 0.01 | 0.16 | 0.17 | (0.03) | (0.65) | (0.68) | $6.91 | 2.46% | 2.09%(4) | 2.09%(4) | 0.25%(4) | 0.25%(4) | 55% | $80,205 | ||||||||||||||||||||||||||||||||
2017 | $6.60 | 0.01 | 0.92 | 0.93 | (0.03) | (0.08) | (0.11) | $7.42 | 14.29% | 2.08% | 2.08% | 0.20% | 0.20% | 81% | $97,269 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
R Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.31 | 0.07 | (0.76) | (0.69) | (0.08) | (0.63) | (0.71) | $5.91 | (10.56)% | 1.20% | 1.62% | 1.05% | 0.63% | 39% | $30,086 | ||||||||||||||||||||||||||||||||
2021 | $6.17 | 0.03 | 1.43 | 1.46 | (0.04) | (0.28) | (0.32) | $7.31 | 24.23% | 1.23% | 1.61% | 0.51% | 0.13% | 48% | $38,353 | ||||||||||||||||||||||||||||||||
2020 | $6.51 | 0.04 | 0.45 | 0.49 | (0.06) | (0.77) | (0.83) | $6.17 | 7.77% | 1.34% | 1.61% | 0.63% | 0.36% | 99% | $35,807 | ||||||||||||||||||||||||||||||||
2019 | $6.96 | 0.06 | 0.13 | 0.19 | (0.07) | (0.57) | (0.64) | $6.51 | 3.88% | 1.56% | 1.61% | 0.92% | 0.87% | 68% | $39,114 | ||||||||||||||||||||||||||||||||
2018(3) | $7.46 | 0.03 | 0.16 | 0.19 | (0.04) | (0.65) | (0.69) | $6.96 | 2.74% | 1.59%(4) | 1.59%(4) | 0.75%(4) | 0.75%(4) | 55% | $43,590 | ||||||||||||||||||||||||||||||||
2017 | $6.63 | 0.05 | 0.92 | 0.97 | (0.06) | (0.08) | (0.14) | $7.46 | 14.83% | 1.58% | 1.58% | 0.70% | 0.70% | 81% | $50,395 | ||||||||||||||||||||||||||||||||
R5 Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.41 | 0.09 | (0.75) | (0.66) | (0.12) | (0.63) | (0.75) | $6.00 | (9.92)% | 0.50% | 0.92% | 1.75% | 1.33% | 39% | $470 | ||||||||||||||||||||||||||||||||
2021 | $6.25 | 0.08 | 1.45 | 1.53 | (0.09) | (0.28) | (0.37) | $7.41 | 25.10% | 0.53% | 0.91% | 1.21% | 0.83% | 48% | $7,768 | ||||||||||||||||||||||||||||||||
2020 | $6.58 | 0.08 | 0.45 | 0.53 | (0.09) | (0.77) | (0.86) | $6.25 | 8.46% | 0.64% | 0.91% | 1.33% | 1.06% | 99% | $6,960 | ||||||||||||||||||||||||||||||||
2019 | $7.03 | 0.11 | 0.13 | 0.24 | (0.12) | (0.57) | (0.69) | $6.58 | 4.56% | 0.86% | 0.91% | 1.62% | 1.57% | 68% | $7,200 | ||||||||||||||||||||||||||||||||
2018(3) | $7.52 | 0.08 | 0.15 | 0.23 | (0.07) | (0.65) | (0.72) | $7.03 | 3.38% | 0.89%(4) | 0.89%(4) | 1.45%(4) | 1.45%(4) | 55% | $6,885 | ||||||||||||||||||||||||||||||||
2017(6) | $6.93 | 0.07 | 0.58 | 0.65 | (0.06) | — | (0.06) | $7.52 | 9.43% | 0.88%(4) | 0.88%(4) | 1.46%(4) | 1.46%(4) | 81%(7) | $5 |
For a Share Outstanding Throughout the Years Ended July 31 (except as noted) | |||||||||||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Distributions From: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total From Investment Operations | Net Investment Income | Net Realized Gains | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Operating Expenses | Operating Expenses (before expense waiver) | Net Investment Income (Loss) | Net Investment Income (Loss) (before expense waiver) | Portfolio Turnover Rate | Net Assets, End of Period (in thousands) | |||||||||||||||||||||||||||||||||
R6 Class | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | $7.39 | 0.13 | (0.77) | (0.64) | (0.13) | (0.63) | (0.76) | $5.99 | (9.67)% | 0.35% | 0.77% | 1.90% | 1.48% | 39% | $113,859 | ||||||||||||||||||||||||||||||||
2021 | $6.24 | 0.09 | 1.44 | 1.53 | (0.10) | (0.28) | (0.38) | $7.39 | 25.17% | 0.38% | 0.76% | 1.36% | 0.98% | 48% | $134,426 | ||||||||||||||||||||||||||||||||
2020 | $6.56 | 0.09 | 0.46 | 0.55 | (0.10) | (0.77) | (0.87) | $6.24 | 8.82% | 0.49% | 0.76% | 1.48% | 1.21% | 99% | $121,246 | ||||||||||||||||||||||||||||||||
2019 | $7.01 | 0.12 | 0.13 | 0.25 | (0.13) | (0.57) | (0.70) | $6.56 | 4.72% | 0.71% | 0.76% | 1.77% | 1.72% | 68% | $95,697 | ||||||||||||||||||||||||||||||||
2018(3) | $7.51 | 0.08 | 0.15 | 0.23 | (0.08) | (0.65) | (0.73) | $7.01 | 3.35% | 0.74%(4) | 0.74%(4) | 1.60%(4) | 1.60%(4) | 55% | $111,937 | ||||||||||||||||||||||||||||||||
2017 | $6.67 | 0.11 | 0.93 | 1.04 | (0.12) | (0.08) | (0.20) | $7.51 | 15.83% | 0.73% | 0.73% | 1.55% | 1.55% | 81% | $85,623 |
Notes to Financial Highlights |
Report of Independent Registered Public Accounting Firm |
Management |
Name (Year of Birth) | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Director | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Directors | |||||||||||||||||
Thomas W. Bunn (1953) | Director | Since 2017 | Retired | 64 | None | ||||||||||||
Chris H. Cheesman (1962) | Director | Since 2019 | Retired. Senior Vice President & Chief Audit Executive, AllianceBernstein (1999 to 2018) | 64 | Alleghany Corporation | ||||||||||||
Barry Fink (1955) | Director | Since 2012 (independent since 2016) | Retired | 64 | None | ||||||||||||
Rajesh K. Gupta (1960) | Director | Since 2019 | Partner Emeritus, SeaCrest Investment Management and SeaCrest Wealth Management (2019 to present); Chief Executive Officer and Chief Investment Officer, SeaCrest Investment Management (2006 to 2019); Chief Executive Officer and Chief Investment Officer, SeaCrest Wealth Management (2008 to 2019) | 64 | None |
Name (Year of Birth) | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Director | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Directors | |||||||||||||||||
Lynn Jenkins (1963) | Director | Since 2019 | Consultant, LJ Strategies (2019 to present); United States Representative, U.S. House of Representatives (2009 to 2018) | 64 | MGP Ingredients, Inc. (2019 to 2021) | ||||||||||||
Jan M. Lewis (1957) | Director and Board Chair | Since 2011 (Board Chair since 2022) | Retired | 64 | None | ||||||||||||
Stephen E. Yates (1948) | Director | Since 2012 | Retired | 105 | None | ||||||||||||
Interested Director | |||||||||||||||||
Jonathan S. Thomas (1963) | Director | Since 2007 | President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Director, ACC and other ACC subsidiaries | 139 | None |
Name (Year of Birth) | Offices with the Funds | Principal Occupation(s) During the Past Five Years | ||||||
Patrick Bannigan (1965) | President since 2019 | Executive Vice President and Director, ACC (2012 to present); Chief Financial Officer, Chief Accounting Officer and Treasurer, ACC (2015 to present). Also serves as President, ACS; Vice President, ACIM; Chief Financial Officer, Chief Accounting Officer and/or Director, ACIM, ACS and other ACC subsidiaries | ||||||
R. Wes Campbell (1974) | Chief Financial Officer and Treasurer since 2018 | Vice President, ACS, (2020 to present); Investment Operations and Investment Accounting, ACS (2000 to present) | ||||||
Amy D. Shelton (1964) | Chief Compliance Officer and Vice President since 2014 | Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present). Also serves as Vice President, ACIS | ||||||
John Pak (1968) | General Counsel and Senior Vice President since 2021 | General Counsel and Senior Vice President, ACC (2021 to present); Also serves as General Counsel and Senior Vice President, ACIM, ACS and ACIS. Chief Legal Officer of Investment and Wealth Management, The Bank of New York Mellon (2014 to 2021) | ||||||
C. Jean Wade (1964) | Vice President since 2012 | Senior Vice President, ACS (2017 to present); Vice President, ACS (2000 to 2017) | ||||||
Robert J. Leach (1966) | Vice President since 2006 | Vice President, ACS (2000 to present) | ||||||
David H. Reinmiller (1963) | Vice President since 2000 | Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS | ||||||
Ward D. Stauffer (1960) | Secretary since 2005 | Attorney, ACC (2003 to present) |
Approval of Management Agreement |
Liquidity Risk Management Program |
Additional Information |
Contact Us | americancentury.com | |||||||
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Investor Services Representative | 1-800-345-2021 or 816-531-5575 | |||||||
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Telecommunications Relay Service for the Deaf | 711 | |||||||
American Century Strategic Asset Allocations, Inc. | ||||||||
Investment Advisor: American Century Investment Management, Inc. Kansas City, Missouri | ||||||||
This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. | ||||||||
©2022 American Century Proprietary Holdings, Inc. All rights reserved. CL-ANN-91038 2209 |
Registrant: | American Century Strategic Asset Allocations, Inc. | |||||||||||||
By: | /s/ Patrick Bannigan | |||||||||||||
Name: | Patrick Bannigan | |||||||||||||
Title: | President | |||||||||||||
Date: | September 28, 2022 |
By: | /s/ Patrick Bannigan | ||||||||||
Name: | Patrick Bannigan | ||||||||||
Title: | President | ||||||||||
(principal executive officer) | |||||||||||
Date: | September 28, 2022 |
By: | /s/ R. Wes Campbell | ||||||||||
Name: | R. Wes Campbell | ||||||||||
Title: | Treasurer and | ||||||||||
Chief Financial Officer | |||||||||||
(principal financial officer) | |||||||||||
Date: | September 28, 2022 |