| Principal Amount | Value | |
| Long-Term Bonds 92.4% | ||
| Corporate Bonds 4.2% | ||
| Brazil 1.6% | ||
| Raizen Fuels Finance SA | ||
| Series Reg S | ||
| 6.25%, due 7/8/32 | $ 600,000 | $ 502,500 |
| Series Reg S | ||
| 6.95%, due 3/5/54 | 500,000 | 381,350 |
| 883,850 | ||
| Czech Republic 1.0% | ||
| Energo-Pro A/S | ||
| Series Reg S | ||
| 6.45%, due 4/15/31 | EUR 500,000 | 589,204 |
| Georgia 0.9% | ||
| Georgian Railway JSC | ||
| Series Reg S | ||
| 4.00%, due 6/17/28 | $ 500,000 | 476,972 |
| Turkey 0.7% | ||
| TAV Havalimanlari Holding A/S | ||
| Series Reg S | ||
| 8.50%, due 12/7/28 | 400,000 | 415,872 |
| Total Corporate Bonds (Cost $2,416,391) | 2,365,898 | |
| Foreign Government Bonds 88.2% | ||
| Albania 0.5% | ||
| Albania Government Bond | ||
| Series Reg S | ||
| 4.75%, due 2/14/35 | EUR 250,000 | 301,168 |
| Angola 0.5% | ||
| Angola Government Bond | ||
| Series Reg S | ||
| 9.125%, due 11/26/49 | $ 300,000 | 259,661 |
| Argentina 4.3% | ||
| Argentina Government Bond (a) | ||
| 0.75%, due 7/9/30 | 125,217 | 105,934 |
| 3.50%, due 7/9/41 | 1,750,000 | 1,265,250 |
| 4.125%, due 7/9/35 | 909,091 | 703,182 |
| 4.125%, due 7/9/46 | 465,909 | 341,278 |
| 2,415,644 | ||
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Azerbaijan 0.8% | ||
| Azerbaijan Government Bond | ||
| Series Reg S | ||
| 3.50%, due 9/1/32 | $ 500,000 | $ 465,719 |
| Benin 0.4% | ||
| Benin Government Bond | ||
| Series Reg S | ||
| 7.96%, due 2/13/38 | 200,000 | 208,880 |
| Brazil 4.3% | ||
| Brazil Government Bond | ||
| 6.125%, due 3/15/34 | 500,000 | 505,450 |
| 6.625%, due 3/15/35 | 700,000 | 719,250 |
| 7.125%, due 5/13/54 | 500,000 | 499,670 |
| 7.25%, due 1/12/56 | 700,000 | 698,600 |
| 2,422,970 | ||
| Chile 3.4% | ||
| Chile Government Bond | ||
| 3.25%, due 9/21/71 | 1,000,000 | 618,150 |
| 5.65%, due 1/13/37 | 1,250,000 | 1,318,125 |
| 1,936,275 | ||
| Colombia 5.1% | ||
| Colombia Government Bond | ||
| 7.375%, due 4/25/30 | 600,000 | 627,300 |
| 7.75%, due 11/7/36 | 500,000 | 522,350 |
| 8.00%, due 4/20/33 | 500,000 | 536,575 |
| 8.00%, due 11/14/35 | 625,000 | 667,125 |
| Ecopetrol SA | ||
| 8.375%, due 1/19/36 | 500,000 | 517,311 |
| 2,870,661 | ||
| Costa Rica 2.9% | ||
| Costa Rica Government Bond | ||
| Series Reg S | ||
| 5.625%, due 4/30/43 (b) | 1,000,000 | 953,670 |
| Series Reg S | ||
| 7.30%, due 11/13/54 | 600,000 | 666,666 |
| 1,620,336 | ||
| Dominican Republic 4.6% | ||
| Dominican Republic Government Bond | ||
| Series Reg S | ||
| 4.875%, due 9/23/32 | 800,000 | 764,984 |
| Series Reg S | ||
| 5.30%, due 1/21/41 | 500,000 | 453,500 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Dominican Republic | ||
| Dominican Republic Government Bond | ||
| Series Reg S | ||
| 6.60%, due 6/1/36 | $ 1,000,000 | $ 1,044,500 |
| Series Reg S | ||
| 7.05%, due 2/3/31 | 300,000 | 319,950 |
| 2,582,934 | ||
| Ecuador 2.3% | ||
| Ecuador Government Bond (a) | ||
| Series Reg S | ||
| 5.00%, due 7/31/40 | 1,250,000 | 1,031,250 |
| Series Reg S | ||
| 6.90%, due 7/31/35 | 300,000 | 273,300 |
| 1,304,550 | ||
| Egypt 3.5% | ||
| Egypt Government Bond | ||
| Series Reg S | ||
| 7.50%, due 2/16/61 | 800,000 | 680,405 |
| Series Reg S | ||
| 7.625%, due 5/29/32 | 300,000 | 310,269 |
| Series Reg S | ||
| 8.70%, due 3/1/49 | 500,000 | 489,538 |
| Series Reg S | ||
| 8.875%, due 5/29/50 | 500,000 | 493,747 |
| 1,973,959 | ||
| El Salvador 1.1% | ||
| El Salvador Government Bond | ||
| Series Reg S | ||
| 7.65%, due 6/15/35 | 291,000 | 301,185 |
| Series Reg S | ||
| 8.25%, due 4/10/32 | 300,000 | 322,416 |
| 623,601 | ||
| Ghana 1.9% | ||
| Ghana Government Bond | ||
| Series Reg S | ||
| 5.00%, due 7/3/35 (a) | 1,200,000 | 1,094,119 |
| Hungary 5.1% | ||
| Hungary Government Bond | ||
| Series Reg S | ||
| 2.125%, due 9/22/31 | 1,250,000 | 1,076,035 |
| Series Reg S | ||
| 5.50%, due 3/26/36 | 900,000 | 894,403 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Hungary | ||
| Hungary Government Bond | ||
| Series Reg S | ||
| 6.00%, due 9/26/35 | $ 300,000 | $ 309,466 |
| 7.625%, due 3/29/41 | 500,000 | 581,121 |
| 2,861,025 | ||
| Indonesia 2.7% | ||
| Indonesia Government Bond | ||
| 4.85%, due 1/11/33 | 1,500,000 | 1,505,337 |
| Kenya 0.4% | ||
| Kenya Government Bond | ||
| Series Reg S | ||
| 9.50%, due 3/5/36 | 200,000 | 213,988 |
| Lebanon 0.9% | ||
| Lebanon Government Bond (c)(d) | ||
| Series Reg S | ||
| 6.65%, due 11/3/28 | 1,000,000 | 293,636 |
| Series Reg S | ||
| 7.00%, due 3/23/32 | 750,000 | 222,975 |
| 516,611 | ||
| Mexico 6.0% | ||
| Mexico Government Bond | ||
| 3.50%, due 2/12/34 | 500,000 | 430,750 |
| 3.75%, due 4/19/71 | 500,000 | 293,525 |
| 4.75%, due 3/8/44 | 500,000 | 408,925 |
| 4.875%, due 5/19/33 | 600,000 | 573,570 |
| 5.00%, due 4/27/51 | 500,000 | 399,325 |
| 6.00%, due 5/7/36 | 500,000 | 501,875 |
| 6.625%, due 1/29/38 | 750,000 | 779,588 |
| 3,387,558 | ||
| Montenegro 1.1% | ||
| Montenegro Government Bond | ||
| Series Reg S | ||
| 7.25%, due 3/12/31 | 600,000 | 639,059 |
| Nigeria 1.9% | ||
| Nigeria Government Bond | ||
| Series Reg S | ||
| 7.875%, due 2/16/32 | 300,000 | 312,561 |
| Series Reg S | ||
| 9.13%, due 1/13/46 | 300,000 | 321,162 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Nigeria | ||
| Nigeria Government Bond | ||
| Series Reg S | ||
| 10.375%, due 12/9/34 | $ 400,000 | $ 472,272 |
| 1,105,995 | ||
| Oman 2.7% | ||
| Oman Government Bond | ||
| Series Reg S | ||
| 6.75%, due 1/17/48 | 1,400,000 | 1,510,408 |
| Pakistan 0.9% | ||
| Pakistan Government Bond | ||
| Series Reg S | ||
| 8.875%, due 4/8/51 | 500,000 | 502,519 |
| Panama 2.7% | ||
| Panama Government Bond | ||
| 3.87%, due 7/23/60 | 500,000 | 323,950 |
| 4.50%, due 4/1/56 | 250,000 | 183,625 |
| 6.70%, due 1/26/36 | 300,000 | 319,515 |
| 6.853%, due 3/28/54 | 700,000 | 720,020 |
| 1,547,110 | ||
| Papua New Guinea 0.7% | ||
| Papua New Guinea Government Bond | ||
| Series Reg S | ||
| 8.375%, due 10/4/28 | 400,000 | 417,136 |
| Peru 2.9% | ||
| Peru Government Bond | ||
| 1.862%, due 12/1/32 | 300,000 | 248,700 |
| 3.23%, due 7/28/2121 | 500,000 | 269,550 |
| 3.60%, due 1/15/72 | 500,000 | 314,350 |
| 6.55%, due 3/14/37 | 750,000 | 824,025 |
| 1,656,625 | ||
| Poland 1.4% | ||
| Bank Gospodarstwa Krajowego | ||
| Series Reg S | ||
| 6.25%, due 7/9/54 | 800,000 | 821,262 |
| Republic of North Macedonia 1.6% | ||
| North Macedonia Government Bond | ||
| Series Reg S | ||
| 4.75%, due 1/21/34 | EUR 800,000 | 933,585 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Romania 6.2% | ||
| Romanian Government Bond | ||
| Series Reg S | ||
| 5.75%, due 3/24/35 | $ 300,000 | $ 297,529 |
| Series Reg S | ||
| 6.375%, due 1/30/34 | 300,000 | 312,277 |
| Series Reg S | ||
| 6.50%, due 10/7/45 | EUR 1,156,000 | 1,428,986 |
| Series Reg S | ||
| 6.75%, due 7/11/39 | 600,000 | 766,623 |
| Series Reg S | ||
| 7.125%, due 1/17/33 | $ 250,000 | 273,013 |
| Series Reg S | ||
| 7.50%, due 2/10/37 | 400,000 | 444,255 |
| 3,522,683 | ||
| Senegal 1.5% | ||
| Senegal Government Bond | ||
| Series Reg S | ||
| 5.375%, due 6/8/37 | EUR 500,000 | 325,398 |
| Series Reg S | ||
| 6.75%, due 3/13/48 | $ 500,000 | 268,571 |
| Series Reg S | ||
| 7.75%, due 6/10/31 | 400,000 | 241,041 |
| 835,010 | ||
| South Africa 4.0% | ||
| South Africa Government Bond | ||
| 5.75%, due 9/30/49 | 500,000 | 411,787 |
| 5.875%, due 6/22/30 | 500,000 | 514,822 |
| Series Reg S | ||
| 7.10%, due 11/19/36 | 500,000 | 529,931 |
| Series Reg S | ||
| 7.95%, due 11/19/54 | 750,000 | 787,307 |
| 2,243,847 | ||
| Sri Lanka 1.3% | ||
| Sri Lanka Government Bond (a) | ||
| Series Reg S | ||
| 3.35%, due 3/15/33 | 300,000 | 275,100 |
| Series Reg S | ||
| 3.60%, due 6/15/35 | 200,000 | 164,000 |
| Series Reg S | ||
| 3.60%, due 2/15/38 | 300,000 | 296,998 |
| 736,098 | ||
| Suriname 1.1% | ||
| Suriname Government Bond | ||
| Series Reg S | ||
| 7.70%, due 11/6/30 | 400,000 | 414,000 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Suriname | ||
| Suriname Government Bond | ||
| Series Reg S | ||
| 8.50%, due 11/6/35 | $ 200,000 | $ 214,992 |
| 628,992 | ||
| Turkey 3.9% | ||
| Turkey Government Bond | ||
| 4.875%, due 4/16/43 | 800,000 | 602,553 |
| 6.875%, due 1/14/38 | 1,200,000 | 1,188,478 |
| 7.25%, due 5/29/32 (b) | 400,000 | 419,467 |
| 2,210,498 | ||
| Ukraine 1.7% | ||
| Ukraine Government Bond (a) | ||
| Series Reg S | ||
| 4.50%, due 2/1/35 | 347,982 | 215,269 |
| Series Reg S | ||
| 4.50%, due 2/1/36 | 1,273,536 | 774,608 |
| 989,877 | ||
| United Arab Emirates 0.6% | ||
| Sharjah Government Bond | ||
| Series Reg S | ||
| 4.00%, due 7/28/50 | 500,000 | 332,881 |
| Venezuela 1.3% | ||
| Petroleos de Venezuela SA (c)(d) | ||
| Series Reg S | ||
| 6.00%, due 5/16/24 | 1,500,000 | 454,500 |
| Series Reg S | ||
| 6.00%, due 11/15/26 | 1,000,000 | 300,000 |
| 754,500 | ||
| Total Foreign Government Bonds (Cost $48,700,168) | 49,953,081 | |
| Total Long-Term Bonds (Cost $51,116,559) | 52,318,979 | |
| Principal Amount | Value | ||
| Short-Term Investment 2.1% | |||
| Unaffiliated Investment Company 2.1% | |||
| United States 2.1% | |||
| Invesco Government & Agency Portfolio, 3.682% (e)(f) | 1,168,895 | $ 1,168,895 | |
| Total Short-Term Investment (Cost $1,168,895) | 1,168,895 | ||
| Total Investments (Cost $52,285,454) | 94.5% | 53,487,874 | |
| Other Assets, Less Liabilities | 5.5 | 3,125,950 | |
| Net Assets | 100.0% | $ 56,613,824 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry and country classifications may be different than those used for compliance monitoring purposes. |
| (a) | Step coupon—Rate shown was the rate in effect as of January 31, 2026. |
| (b) | All or a portion of this security was held on loan. As of January 31, 2026, the aggregate market value of securities on loan was $1,136,233. The Fund received cash collateral with a value of $1,168,895. |
| (c) | Issue in default. |
| (d) | Issue in non-accrual status. |
| (e) | Current yield as of January 31, 2026. |
| (f) | Represents a security purchased with cash collateral received for securities on loan. |
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation)2 | ||
| EUR | 2,000,000 | USD | 2,354,287 | JPMorgan Chase Bank N.A. | 3/25/26 | $ 22,151 |
| Total Unrealized Appreciation | 22,151 | |||||
| EUR | 1,000,000 | USD | 1,188,335 | Barclays Capital | 3/25/26 | (116) |
| USD | 8,735,512 | EUR | 7,400,000 | Barclays Capital | 3/25/26 | (57,308) |
| Total Unrealized Depreciation | (57,424) | |||||
| Net Unrealized Depreciation | $ (35,273) | |||||
| 1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
| 2. | As of January 31, 2026, cash in the amount of $890,000 was on deposit with a broker or forward commission merchant for forward transactions. |
| Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
| Long Contracts | |||||
| U.S. Treasury 2 Year Notes | 30 | March 2026 | $ 6,266,791 | $ 6,254,766 | $ (12,025) |
| U.S. Treasury 5 Year Notes | 55 | March 2026 | 6,033,804 | 5,991,133 | (42,671) |
| Total Long Contracts | (54,696) |
| Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
| Short Contracts | |||||
| Euro-Bobl | (7) | March 2026 | $ (968,257) | $ (967,566) | $ 691 |
| Euro-Bund | (26) | March 2026 | (3,960,460) | (3,950,084) | 10,376 |
| U.S. Treasury 10 Year Ultra Bonds | (25) | March 2026 | (2,857,905) | (2,853,906) | 3,999 |
| Total Short Contracts | 15,066 | ||||
| Net Unrealized Depreciation | $ (39,630) |
| 1. | As of January 31, 2026, cash in the amount of $156,903 was on deposit with a broker or futures commission merchant for futures transactions. |
| 2. | Represents the difference between the value of the contracts at the time they were opened and the value as of January 31, 2026. |
| Abbreviation(s): |
| Bobl—Bundesobligation, the German word for federal government bond |
| EUR—Euro |
| USD—United States Dollar |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Long-Term Bonds | |||||||
| Corporate Bonds | $ — | $ 2,365,898 | $ — | $ 2,365,898 | |||
| Foreign Government Bonds | — | 49,953,081 | — | 49,953,081 | |||
| Total Long-Term Bonds | — | 52,318,979 | — | 52,318,979 | |||
| Short-Term Investment | |||||||
| Unaffiliated Investment Company | 1,168,895 | — | — | 1,168,895 | |||
| Total Investments in Securities | 1,168,895 | 52,318,979 | — | 53,487,874 | |||
| Other Financial Instruments (b) | |||||||
| Foreign Currency Forward Contracts | — | 22,151 | — | 22,151 | |||
| Futures Contracts | 15,066 | — | — | 15,066 | |||
| Total Other Financial Instruments | 15,066 | 22,151 | — | 37,217 | |||
| Total Investments in Securities and Other Financial Instruments | $ 1,183,961 | $ 52,341,130 | $ — | $ 53,525,091 | |||
| Liability Valuation Inputs | |||||||
| Other Financial Instruments (b) | |||||||
| Foreign Currency Forward Contracts | $ — | $ (57,424) | $ — | $ (57,424) | |||
| Futures Contracts | (54,696) | — | — | (54,696) | |||
| Total Other Financial Instruments | $ (54,696) | $ (57,424) | $ — | $ (112,120) |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| (b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
| Principal Amount | Value | |
| Long-Term Bonds 34.3% | ||
| Asset-Backed Securities 4.2% | ||
| Automobile Asset-Backed Securities 1.6% | ||
| Ally Bank Auto Credit-Linked Notes (a) | ||
| Series 2025-B, Class F | ||
| 6.942%, due 9/15/33 | $ 894,890 | $ 897,542 |
| Series 2025-A, Class G | ||
| 10.219%, due 6/15/33 | 737,993 | 743,895 |
| Series 2024-A, Class G | ||
| 12.748%, due 5/17/32 | 346,554 | 360,168 |
| Bridgecrest Lending Auto Securitization Trust | ||
| Series 2025-2, Class D | ||
| 5.62%, due 3/17/31 | 890,000 | 906,269 |
| Series 2025-3, Class E | ||
| 6.62%, due 5/17/32 (a) | 1,315,000 | 1,325,512 |
| CarMax Select Receivables Trust | ||
| Series 2025-B, Class D | ||
| 5.33%, due 7/15/31 | 1,095,000 | 1,105,482 |
| Exeter Automobile Receivables Trust | ||
| Series 2021-3A, Class E | ||
| 3.04%, due 12/15/28 (a) | 855,000 | 851,697 |
| Series 2022-2A, Class E | ||
| 6.34%, due 10/15/29 (a) | 1,060,000 | 1,035,308 |
| Series 2023-4A, Class D | ||
| 6.95%, due 12/17/29 | 175,000 | 178,653 |
| Series 2025-3A, Class E | ||
| 7.52%, due 12/15/32 (a) | 1,400,000 | 1,448,800 |
| Series 2025-2A, Class E | ||
| 7.81%, due 10/15/32 (a) | 1,665,000 | 1,735,073 |
| Exeter Select Automobile Receivables Trust | ||
| Series 2025-2, Class D | ||
| 5.34%, due 1/15/32 | 910,000 | 916,518 |
| Flagship Credit Auto Trust (a) | ||
| Series 2021-1, Class D | ||
| 1.27%, due 3/15/27 | 354,017 | 351,687 |
| Series 2021-3, Class E | ||
| 3.32%, due 12/15/28 | 1,316,000 | 1,212,598 |
| Series 2022-1, Class D | ||
| 3.64%, due 3/15/28 | 491,000 | 476,877 |
| Series 2022-2, Class D | ||
| 5.80%, due 4/17/28 | 1,385,000 | 1,244,656 |
| Hertz Vehicle Financing III LP | ||
| Series 2021-2A, Class D | ||
| 4.34%, due 12/27/27 (a) | 1,175,000 | 1,161,637 |
| Huntington Bank Auto Credit-Linked Notes | ||
| Series 2024-2, Class E | ||
| 11.203% (SOFR 30A + 7.50%), due 10/20/32 (a)(b) | 574,527 | 580,527 |
| OneMain Direct Auto Receivables Trust | ||
| Series 2019-1A, Class D | ||
| 4.68%, due 4/14/31 (a) | 770,000 | 769,239 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Automobile Asset-Backed Securities | ||
| Santander Bank Auto Credit-Linked Notes | ||
| Series 2023-B, Class F | ||
| 12.24%, due 12/15/33 (a) | $ 462,069 | $ 485,761 |
| 17,787,899 | ||
| Other Asset-Backed Securities 2.6% | ||
| AGL CLO 32 Ltd. | ||
| Series 2024-32A, Class A1 | ||
| 5.05% (3 Month SOFR + 1.38%), due 7/21/37 (a)(b) | 800,000 | 802,456 |
| AGL CLO 35 Ltd. | ||
| Series 2024-35A, Class A2 | ||
| 5.22% (3 Month SOFR + 1.55%), due 1/21/38 (a)(b) | 250,000 | 250,641 |
| AIMCO CLO | ||
| Series 2018-AA, Class B1R | ||
| 5.318% (3 Month SOFR + 1.65%), due 10/17/37 (a)(b) | 800,000 | 802,550 |
| American Airlines Pass-Through Trust | ||
| Series 2016-2, Class AA | ||
| 3.20%, due 6/15/28 | 397,460 | 388,875 |
| Series 2016-2, Class A | ||
| 3.65%, due 6/15/28 | 923,510 | 895,931 |
| Apidos CLO | ||
| Series 2018-18A, Class BR2 | ||
| 5.369% (3 Month SOFR + 1.70%), due 1/22/38 (a)(b) | 950,000 | 954,542 |
| Apidos CLO LI Ltd. | ||
| Series 2024-51A, Class B | ||
| 5.218% (3 Month SOFR + 1.55%), due 1/20/38 (a)(b) | 420,000 | 420,945 |
| ARES Direct Lending CLO 3 LLC | ||
| Series 2024-3A, Class A2 | ||
| 5.418% (3 Month SOFR + 1.75%), due 1/20/37 (a)(b) | 450,000 | 450,407 |
| Bain Capital Credit CLO Ltd. | ||
| Series 2021-6A, Class DR | ||
| 6.62% (3 Month SOFR + 2.95%), due 10/21/34 (a)(b) | 350,000 | 345,758 |
| Bayfront Labs VII Pte. Ltd. | ||
| Series 7A, Class A | ||
| 4.956% (SOFR + 1.28%), due 4/11/48 (a)(b) | 850,000 | 851,776 |
| Benefit Street Partners CLO XXXII Ltd. | ||
| Series 2023-32A, Class AR | ||
| 4.878% (3 Month SOFR + 1.21%), due 10/25/38 (a)(b) | 1,000,000 | 1,004,054 |
| British Airways Pass-Through Trust | ||
| Series 2021-1, Class A | ||
| 2.90%, due 3/15/35 (a) | 1,589,329 | 1,453,134 |
| CF Hippolyta Issuer LLC (a) | ||
| Series 2021-1A, Class A1 | ||
| 1.53%, due 3/15/61 | 1,602,614 | 1,299,647 |
| Series 2020-1, Class A1 | ||
| 1.69%, due 7/15/60 | 727,067 | 610,938 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| Consolidated Communications LLC | ||
| Series 2025-4A, Class A2 | ||
| 5.522%, due 12/20/55 (a) | $ 920,000 | $ 931,552 |
| Fortress Credit Opportunities XXI CLO LLC | ||
| Series 2023-21A, Class A1TR | ||
| 5.24% (3 Month SOFR + 1.57%), due 1/21/37 (a)(b) | 750,000 | 752,321 |
| Golub Capital CLO 86B Ltd. | ||
| Series 2026-86A, Class C | ||
| (zero coupon) (3 Month SOFR + 1.70%), due 1/25/39 (a)(b) | 400,000 | 400,000 |
| Golub Capital Partners CLO 67M Ltd. | ||
| Series 2023-67A, Class CR | ||
| 6.065% (3 Month SOFR + 2.20%), due 5/9/36 (a)(b) | 525,000 | 525,488 |
| Golub Capital Partners CLO 76 B Ltd. | ||
| Series 2024-76A, Class A1 | ||
| 5.038% (3 Month SOFR + 1.37%), due 10/25/37 (a)(b) | 650,000 | 651,318 |
| Great Lakes CLO Ltd. | ||
| Series 2019-1A, Class ARR | ||
| 5.152% (3 Month SOFR + 1.48%), due 4/15/37 (a)(b) | 850,000 | 852,264 |
| Home Partners of America Trust | ||
| Series 2021-2, Class B | ||
| 2.302%, due 12/17/26 (a) | 484,545 | 475,383 |
| HPEFS Equipment Trust | ||
| Series 2024-1A, Class D | ||
| 5.82%, due 11/20/31 (a) | 1,265,000 | 1,280,249 |
| Invitation Homes Trust | ||
| Series 2024-SFR1, Class D | ||
| 4.25%, due 9/17/41 (a) | 1,053,000 | 1,019,297 |
| Ivy Hill Middle Market Credit Fund VII Ltd. | ||
| Series 7A, Class AR3 | ||
| 5.272% (3 Month SOFR + 1.60%), due 10/15/36 (a)(b) | 450,000 | 451,121 |
| Kinetic ABS Issuer LLC | ||
| Series 2026-1A, Class B | ||
| 5.561%, due 2/25/56 (a) | 1,110,000 | 1,110,000 |
| New Economy Assets Phase 1 Sponsor LLC | ||
| Series 2021-1, Class B1 | ||
| 2.41%, due 10/20/61 (a) | 660,000 | 416,570 |
| OCP CLO Ltd. | ||
| Series 2017-14A, Class A1R | ||
| 5.038% (3 Month SOFR + 1.37%), due 7/20/37 (a)(b) | 650,000 | 651,987 |
| Owl Rock CLO XX LLC | ||
| Series 2024-20A, Class C | ||
| 5.768% (3 Month SOFR + 2.10%), due 10/24/34 (a)(b) | 500,000 | 501,361 |
| Rad CLO 25 Ltd. | ||
| Series 2024-25A, Class A1 | ||
| 5.128% (3 Month SOFR + 1.46%), due 7/20/37 (a)(b) | 450,000 | 451,710 |
| Regatta 30 Funding Ltd. | ||
| Series 2024-4A, Class B | ||
| 5.318% (3 Month SOFR + 1.65%), due 1/25/38 (a)(b) | 800,000 | 804,718 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| Regatta XI Funding Ltd. | ||
| Series 2018-1A, Class AR | ||
| 5.068% (3 Month SOFR + 1.40%), due 7/17/37 (a)(b) | $ 650,000 | $ 652,075 |
| RIN V LLC | ||
| Series 2023-2A, Class A1R | ||
| 5.007% (3 Month SOFR + 1.34%), due 10/14/36 (a)(b) | 850,000 | 849,980 |
| Signal Peak CLO 12 Ltd. | ||
| Series 2022-12A, Class A1R | ||
| 5.068% (3 Month SOFR + 1.40%), due 7/18/37 (a)(b) | 530,000 | 531,453 |
| Silver Point SCF CLO IV Ltd. | ||
| Series 2021-1A, Class A2R | ||
| 5.622% (3 Month SOFR + 1.95%), due 10/15/36 (a)(b) | 450,000 | 452,046 |
| Subway Funding LLC (a) | ||
| Series 2024-3A, Class A23 | ||
| 5.914%, due 7/30/54 | 910,800 | 896,219 |
| Series 2024-1A, Class A2I | ||
| 6.028%, due 7/30/54 | 881,100 | 892,710 |
| Texas Debt Capital CLO Ltd. | ||
| Series 2024-2A, Class B | ||
| 5.368% (3 Month SOFR + 1.70%), due 1/24/37 (a)(b) | 500,000 | 503,624 |
| United Airlines Pass-Through Trust | ||
| Series 2020-1, Class A | ||
| 5.875%, due 10/15/27 | 641,444 | 657,365 |
| Vantage Data Centers Issuer LLC | ||
| Series 2021-1A, Class A2 | ||
| 2.165%, due 10/15/46 (a) | 835,000 | 820,255 |
| Zayo Issuer LLC | ||
| Series 2025-2A, Class B | ||
| 6.586%, due 6/20/55 (a) | 810,000 | 836,060 |
| 28,898,780 | ||
| Total Asset-Backed Securities (Cost $46,930,749) | 46,686,679 | |
| Corporate Bonds 10.6% | ||
| Airlines 0.3% | ||
| American Airlines, Inc. (a) | ||
| 5.50%, due 4/20/26 | 116,668 | 116,752 |
| 5.75%, due 4/20/29 | 850,000 | 858,843 |
| Avianca Midco 2 plc | ||
| Series Reg S | ||
| 9.625%, due 2/14/30 (c) | 775,000 | 793,988 |
| Delta Air Lines, Inc. | ||
| 4.75%, due 10/20/28 (a) | 1,947,917 | 1,962,645 |
| 3,732,228 | ||
| Principal Amount | Value | |
| Corporate Bonds | ||
| Auto Manufacturers 0.7% | ||
| Ford Motor Credit Co. LLC | ||
| 2.70%, due 8/10/26 | $ 940,000 | $ 932,465 |
| 4.125%, due 8/17/27 | 1,050,000 | 1,044,885 |
| 6.80%, due 5/12/28 | 730,000 | 763,905 |
| 6.95%, due 3/6/26 | 660,000 | 661,131 |
| General Motors Financial Co., Inc. | ||
| 2.35%, due 1/8/31 | 810,000 | 730,227 |
| 2.70%, due 6/10/31 | 1,080,000 | 982,206 |
| 4.30%, due 4/6/29 | 680,000 | 680,838 |
| Nissan Motor Acceptance Co. LLC | ||
| 1.85%, due 9/16/26 (a) | 1,905,000 | 1,865,372 |
| 7,661,029 | ||
| Banks 2.9% | ||
| Australia & New Zealand Banking Group Ltd. | ||
| 5.731% (5 Year Treasury Constant Maturity Rate + 1.618%), due 9/18/34 (a)(b) | 1,155,000 | 1,196,845 |
| Banco Santander SA | ||
| 2.749%, due 12/3/30 | 1,000,000 | 911,949 |
| Barclays plc | ||
| 4.375% (5 Year Treasury Constant Maturity Rate + 3.41%), due 3/15/28 (b)(d) | 2,000,000 | 1,945,618 |
| BNP Paribas SA (a) | ||
| 3.052%, due 1/13/31 (e) | 1,170,000 | 1,107,968 |
| 4.625% (5 Year Treasury Constant Maturity Rate + 3.196%), due 1/12/27 (b)(d) | 1,450,000 | 1,444,565 |
| 6.875% (5 Year Treasury Constant Maturity Rate + 2.853%), due 12/15/33 (b)(d) | 105,000 | 105,950 |
| BPCE SA | ||
| 2.045%, due 10/19/27 (a)(e) | 1,255,000 | 1,237,399 |
| Citizens Financial Group, Inc. | ||
| 2.638%, due 9/30/32 | 1,720,000 | 1,499,523 |
| 5.299% (5 Year Treasury Constant Maturity Rate + 1.45%), due 1/29/36 (b) | 950,000 | 954,517 |
| Deutsche Bank AG | ||
| 3.035%, due 5/28/32 (e) | 600,000 | 550,683 |
| 4.908% (SOFR + 1.219%), due 11/16/27 (b) | 1,945,000 | 1,952,153 |
| First Horizon Bank | ||
| 5.75%, due 5/1/30 | 1,555,000 | 1,603,383 |
| First Horizon Corp. | ||
| 5.514%, due 3/7/31 (e) | 625,000 | 643,614 |
| Goldman Sachs Group, Inc. (The) | ||
| 1.992%, due 1/27/32 (e) | 1,165,000 | 1,034,014 |
| 6.75%, due 10/1/37 | 444,000 | 492,913 |
| Huntington Bancshares, Inc. | ||
| 4.623%, due 1/28/32 (e) | 755,000 | 756,249 |
| 5.605% (5 Year Treasury Constant Maturity Rate + 1.35%), due 1/28/41 (b) | 535,000 | 532,413 |
| KeyBank NA | ||
| 4.90%, due 8/8/32 | 870,000 | 868,779 |
| KeyCorp | ||
| 6.401%, due 3/6/35 (e) | 360,000 | 390,068 |
| Lloyds Banking Group plc | ||
| 4.976% (1 Year Treasury Constant Maturity Rate + 2.30%), due 8/11/33 (b) | 870,000 | 885,202 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Banks | ||
| M&T Bank Corp. | ||
| 5.385%, due 1/16/36 (e) | $ 365,000 | $ 370,115 |
| Morgan Stanley (e) | ||
| 2.484%, due 9/16/36 | 2,115,000 | 1,859,783 |
| 2.511%, due 10/20/32 | 1,530,000 | 1,373,352 |
| Santander Holdings USA, Inc. | ||
| 6.499%, due 3/9/29 (e) | 735,000 | 766,616 |
| Societe Generale SA (a)(b)(d) | ||
| 4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 | 935,000 | 934,460 |
| 5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 | 1,300,000 | 1,263,896 |
| UBS Group AG (a) | ||
| 3.091%, due 5/14/32 (e) | 1,040,000 | 965,869 |
| 4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (b)(d) | 1,260,000 | 1,150,768 |
| USB Realty Corp. | ||
| 5.081% (3 Month SOFR + 1.409%), due 1/15/27 (a)(b)(d) | 680,000 | 571,491 |
| Wells Fargo & Co. | ||
| 3.35%, due 3/2/33 (e) | 935,000 | 871,826 |
| Western Alliance Bank | ||
| 6.537% (5 Year Treasury Constant Maturity Rate + 2.85%), due 11/15/35 (b) | 600,000 | 607,587 |
| Westpac Banking Corp. | ||
| 3.02% (5 Year Treasury Constant Maturity Rate + 1.53%), due 11/18/36 (b) | 1,255,000 | 1,136,551 |
| 31,986,119 | ||
| Chemicals 0.5% | ||
| Braskem Netherlands Finance BV | ||
| 4.50%, due 1/10/28 (a) | 1,535,000 | 696,890 |
| Celanese US Holdings LLC | ||
| 7.20%, due 11/15/33 (f) | 865,000 | 915,090 |
| Huntsman International LLC | ||
| 4.50%, due 5/1/29 (c) | 1,862,000 | 1,791,691 |
| Qnity Electronics, Inc. | ||
| 5.75%, due 8/15/32 (a) | 455,000 | 463,515 |
| Sasol Financing USA LLC | ||
| 8.75%, due 5/3/29 (a) | 1,260,000 | 1,294,140 |
| 5,161,326 | ||
| Commercial Services 0.2% | ||
| Ashtead Capital, Inc. | ||
| 4.00%, due 5/1/28 (a) | 935,000 | 927,470 |
| Global Payments, Inc. | ||
| 4.875%, due 11/15/30 | 1,075,000 | 1,074,752 |
| 2,002,222 | ||
| Computers 0.0% ‡ | ||
| Dell International LLC | ||
| 3.375%, due 12/15/41 | 400,000 | 302,345 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Diversified Financial Services 0.7% | ||
| Ally Financial, Inc. | ||
| Series C | ||
| 4.70% (7 Year Treasury Constant Maturity Rate + 3.481%), due 5/15/28 (b)(d) | $ 705,000 | $ 675,749 |
| 6.992%, due 6/13/29 (e) | 550,000 | 580,057 |
| Avolon Holdings Funding Ltd. (a) | ||
| 2.125%, due 2/21/26 | 1,515,000 | 1,512,906 |
| 4.70%, due 1/30/31 | 555,000 | 552,044 |
| Capital One Financial Corp. (e) | ||
| 4.722%, due 1/30/32 | 630,000 | 630,188 |
| 5.197%, due 9/11/36 | 475,000 | 468,384 |
| 6.051%, due 2/1/35 | 160,000 | 168,049 |
| Jefferies Financial Group, Inc. | ||
| 6.20%, due 4/14/34 | 250,000 | 262,915 |
| OneMain Finance Corp. | ||
| 6.75%, due 3/15/32 | 885,000 | 904,510 |
| 7.50%, due 5/15/31 | 800,000 | 838,674 |
| Synchrony Financial | ||
| 5.45%, due 3/6/31 (e) | 880,000 | 897,035 |
| 7,490,511 | ||
| Electric 1.3% | ||
| AEP Texas, Inc. | ||
| 4.70%, due 5/15/32 | 1,135,000 | 1,138,290 |
| Arizona Public Service Co. | ||
| 2.20%, due 12/15/31 | 1,930,000 | 1,697,379 |
| Duquesne Light Holdings, Inc. | ||
| 3.616%, due 8/1/27 (a) | 2,265,000 | 2,240,967 |
| Edison International (b) | ||
| 7.875% (5 Year Treasury Constant Maturity Rate + 3.658%), due 6/15/54 | 430,000 | 447,865 |
| 8.125% (5 Year Treasury Constant Maturity Rate + 3.864%), due 6/15/53 | 530,000 | 548,487 |
| EnfraGen Energia Sur SA | ||
| 5.375%, due 12/30/30 (a) | 820,000 | 764,908 |
| Evergy Missouri West, Inc. | ||
| 5.25%, due 12/15/35 (a) | 350,000 | 351,251 |
| Jersey Central Power & Light Co. | ||
| 2.75%, due 3/1/32 (a) | 1,655,000 | 1,493,379 |
| Nevada Power Co. | ||
| Series GG | ||
| 5.90%, due 5/1/53 | 530,000 | 533,440 |
| Ohio Power Co. | ||
| Series R | ||
| 2.90%, due 10/1/51 | 1,000,000 | 620,076 |
| PacifiCorp | ||
| 7.375% (5 Year Treasury Constant Maturity Rate + 3.319%), due 9/15/55 (b) | 485,000 | 498,097 |
| Southern California Edison Co. | ||
| 4.00%, due 4/1/47 | 660,000 | 498,267 |
| 5.70%, due 3/1/53 | 570,000 | 536,191 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Electric | ||
| Virginia Electric and Power Co. | ||
| 2.95%, due 11/15/51 | $ 1,035,000 | $ 650,605 |
| XPLR Infrastructure Operating Partners LP (a) | ||
| 4.50%, due 9/15/27 | 614,000 | 608,417 |
| 7.25%, due 1/15/29 | 785,000 | 810,029 |
| 8.375%, due 1/15/31 (c) | 575,000 | 603,991 |
| Zorlu Enerji Elektrik Uretim A/S | ||
| Series Reg S | ||
| 11.00%, due 4/23/30 | 525,000 | 489,125 |
| 14,530,764 | ||
| Engineering & Construction 0.0% ‡ | ||
| Great Lakes Dredge & Dock Corp. | ||
| 5.25%, due 6/1/29 (a)(c) | 415,000 | 408,197 |
| Food 0.5% | ||
| Grupo Nutresa SA | ||
| Series Reg S | ||
| 8.00%, due 5/12/30 | 200,000 | 212,995 |
| 9.00%, due 5/12/35 (a) | 550,000 | 613,525 |
| JBS NV | ||
| 5.75%, due 4/1/33 | 1,228,000 | 1,281,491 |
| Minerva Luxembourg SA | ||
| 8.875%, due 9/13/33 (a) | 1,225,000 | 1,338,309 |
| Post Holdings, Inc. (a) | ||
| 4.50%, due 9/15/31 | 220,000 | 208,420 |
| 4.625%, due 4/15/30 | 490,000 | 478,491 |
| Smithfield Foods, Inc. | ||
| 4.25%, due 2/1/27 (a) | 1,180,000 | 1,179,488 |
| 5,312,719 | ||
| Forest Products & Paper 0.1% | ||
| Suzano Austria GmbH | ||
| 3.75%, due 1/15/31 | 1,200,000 | 1,132,189 |
| Gas 0.3% | ||
| Brooklyn Union Gas Co. (The) | ||
| 6.388%, due 9/15/33 (a) | 865,000 | 926,431 |
| National Fuel Gas Co. | ||
| 2.95%, due 3/1/31 | 1,375,000 | 1,258,232 |
| Southern California Gas Co. | ||
| Series VV | ||
| 4.30%, due 1/15/49 | 845,000 | 688,591 |
| 2,873,254 | ||
| Healthcare-Services 0.1% | ||
| Prime Healthcare Services, Inc. | ||
| 9.375%, due 9/1/29 (a) | 625,000 | 650,781 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Insurance 0.1% | ||
| Belrose Funding Trust II | ||
| 6.792%, due 5/15/55 (a) | $ 705,000 | $ 739,141 |
| Five Corners Funding Trust III | ||
| 5.791%, due 2/15/33 (a) | 770,000 | 812,553 |
| 1,551,694 | ||
| Internet 0.2% | ||
| Cogent Communications Group LLC | ||
| 6.50%, due 7/1/32 (a)(c) | 950,000 | 872,350 |
| Meta Platforms, Inc. | ||
| 5.625%, due 11/15/55 | 420,000 | 399,623 |
| Rakuten Group, Inc. | ||
| 9.75%, due 4/15/29 (a) | 870,000 | 974,708 |
| 2,246,681 | ||
| Iron & Steel 0.1% | ||
| Mineral Resources Ltd. | ||
| 7.00%, due 4/1/31 (a)(c) | 630,000 | 662,102 |
| Samarco Mineracao SA | ||
| Series Reg S | ||
| 9.50% (9.00% PIK), due 6/30/31 (g) | 386,837 | 386,580 |
| 1,048,682 | ||
| Lodging 0.2% | ||
| Fortune Star BVI Ltd. | ||
| Series Reg S | ||
| 8.50%, due 5/19/28 | 220,000 | 227,099 |
| Las Vegas Sands Corp. | ||
| 5.625%, due 6/15/28 | 1,025,000 | 1,049,409 |
| Studio City Finance Ltd. | ||
| 5.00%, due 1/15/29 (a) | 965,000 | 934,863 |
| 2,211,371 | ||
| Machinery—Construction & Mining 0.1% | ||
| Terex Corp. | ||
| 6.25%, due 10/15/32 (a) | 810,000 | 829,366 |
| Media 0.0% ‡ | ||
| Nexstar Media, Inc. | ||
| 4.75%, due 11/1/28 (a) | 235,000 | 233,581 |
| Mining 0.2% | ||
| Perenti Finance Pty. Ltd. | ||
| 7.50%, due 4/26/29 (a) | 665,000 | 690,496 |
| Vedanta Resources Finance II plc | ||
| 9.85%, due 4/24/33 (a) | 960,000 | 1,034,715 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Mining | ||
| Vedanta Resources Finance II plc | ||
| Series Reg S | ||
| 10.875%, due 9/17/29 | $ 510,000 | $ 546,341 |
| 2,271,552 | ||
| Miscellaneous—Manufacturing 0.1% | ||
| Textron Financial Corp. | ||
| 5.848% (3 Month SOFR + 1.997%), due 2/15/42 (a)(b) | 1,085,000 | 978,124 |
| Oil & Gas 0.2% | ||
| California Resources Corp. | ||
| 8.25%, due 6/15/29 (a) | 755,000 | 794,094 |
| Comstock Resources, Inc. | ||
| 6.75%, due 3/1/29 (a) | 580,000 | 583,698 |
| Energean Israel Finance Ltd. | ||
| Series Reg S | ||
| 5.375%, due 3/30/28 (a) | 120,000 | 118,665 |
| Hilcorp Energy I LP | ||
| 5.75%, due 2/1/29 (a) | 1,210,000 | 1,210,291 |
| 2,706,748 | ||
| Pipelines 0.7% | ||
| Cheniere Corpus Christi Holdings LLC | ||
| 2.742%, due 12/31/39 | 1,580,000 | 1,352,868 |
| DT Midstream, Inc. | ||
| 4.30%, due 4/15/32 (a) | 1,000,000 | 967,172 |
| Energy Transfer LP | ||
| 5.35%, due 5/15/45 | 205,000 | 186,347 |
| Flex Intermediate Holdco LLC | ||
| 3.363%, due 6/30/31 (a) | 2,030,000 | 1,870,329 |
| ONEOK, Inc. | ||
| 5.625%, due 1/15/28 (a) | 565,000 | 576,645 |
| 6.25%, due 10/15/55 | 725,000 | 728,906 |
| Transcontinental Gas Pipe Line Co. LLC | ||
| 4.60%, due 3/15/48 | 1,035,000 | 897,153 |
| Western Midstream Operating LP | ||
| 5.25%, due 2/1/50 (f) | 860,000 | 738,535 |
| 7,317,955 | ||
| Real Estate 0.0% ‡ | ||
| Alpha Star Holding IX Ltd. | ||
| Series Reg S | ||
| 7.00%, due 8/26/28 | 400,000 | 409,439 |
| Real Estate Investment Trusts 0.3% | ||
| GLP Capital LP | ||
| 4.00%, due 1/15/30 | 1,540,000 | 1,498,445 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Real Estate Investment Trusts | ||
| Trust 2401 (a) | ||
| 7.375%, due 2/13/34 | $ 623,000 | $ 681,033 |
| 7.70%, due 1/23/32 | 780,000 | 856,323 |
| Trust Fibra Uno | ||
| Series Reg S | ||
| 7.375%, due 2/13/34 | 252,000 | 276,507 |
| 3,312,308 | ||
| Retail 0.4% | ||
| Arcos Dorados BV | ||
| 6.375%, due 1/29/32 (a) | 1,070,000 | 1,121,895 |
| AutoNation, Inc. | ||
| 4.75%, due 6/1/30 | 594,000 | 599,199 |
| Bath & Body Works, Inc. | ||
| 6.625%, due 10/1/30 (a) | 1,155,000 | 1,182,840 |
| Macy's Retail Holdings LLC | ||
| 6.125%, due 3/15/32 (a) | 215,000 | 217,311 |
| PetSmart LLC | ||
| 7.50%, due 9/15/32 (a) | 565,000 | 579,385 |
| Sally Holdings LLC | ||
| 6.75%, due 3/1/32 (c) | 200,000 | 207,301 |
| 3,907,931 | ||
| Semiconductors 0.1% | ||
| Kioxia Holdings Corp. | ||
| 6.25%, due 7/24/30 (a) | 870,000 | 898,764 |
| Software 0.1% | ||
| Cloud Software Group, Inc. | ||
| 8.25%, due 6/30/32 (a) | 585,000 | 594,993 |
| Telecommunications 0.2% | ||
| AT&T, Inc. | ||
| 3.50%, due 9/15/53 | 1,344,000 | 897,723 |
| Uniti Services LLC | ||
| 7.50%, due 10/15/33 (a) | 765,000 | 789,827 |
| WULF Compute LLC | ||
| 7.75%, due 10/15/30 (a) | 565,000 | 589,306 |
| 2,276,856 | ||
| Water 0.0% ‡ | ||
| Aegea Finance SARL | ||
| 9.00%, due 1/20/31 (a) | 410,000 | 435,734 |
| Total Corporate Bonds (Cost $119,553,105) | 116,475,463 | |
| Principal Amount | Value | |
| Foreign Government Bonds 0.9% | ||
| Argentina 0.1% | ||
| Argentina Government Bond | ||
| 4.125%, due 7/9/35 (f) | $ 1,535,000 | $ 1,187,323 |
| Bahamas 0.1% | ||
| Bahamas Government Bond | ||
| 8.25%, due 6/24/36 | 965,000 | 1,076,274 |
| Chile 0.1% | ||
| Empresa Nacional del Petroleo | ||
| 3.45%, due 9/16/31 (a) | 554,000 | 510,527 |
| Colombia 0.2% | ||
| Colombia Government Bond | ||
| 3.25%, due 4/22/32 | 1,780,000 | 1,502,943 |
| 7.75%, due 11/7/36 | 965,000 | 1,008,135 |
| 2,511,078 | ||
| Dominican Republic 0.1% | ||
| Dominican Republic Government Bond | ||
| 4.875%, due 9/23/32 (a) | 1,195,000 | 1,142,695 |
| Egypt 0.1% | ||
| Egypt Government Bond | ||
| 7.625%, due 5/29/32 (a) | 1,010,000 | 1,044,571 |
| Paraguay 0.1% | ||
| Paraguay Government Bond | ||
| 6.10%, due 8/11/44 (a) | 1,325,000 | 1,349,685 |
| Uruguay 0.1% | ||
| Uruguay Government Bond | ||
| 9.75%, due 7/20/33 | UYU 29,490,000 | 861,021 |
| Total Foreign Government Bonds (Cost $9,087,661) | 9,683,174 | |
| Loan Assignments 0.3% | ||
| Diversified/Conglomerate Service 0.0% ‡ | ||
| TruGreen LP | ||
| First Lien Term Loan B | ||
| 7.667% (3 Month SOFR + 4.00%), due 11/2/27 (b) | USD $ 729,396 | 711,617 |
| Finance 0.1% | ||
| Arches Buyer, Inc. | ||
| First Lien New Term Loan | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Finance | ||
| Arches Buyer, Inc. | ||
| 7.022% (1 Month SOFR + 3.25%), due 12/6/27 (b) | $ 786,719 | $ 782,785 |
| Media 0.2% | ||
| DIRECTV Financing LLC | ||
| First Lien 2024 Refinancing Term Loan B | ||
| 9.178% (3 Month SOFR + 5.25%), due 8/2/29 (b) | 887,582 | 887,266 |
| Virgin Media Bristol LLC | ||
| First Lien Facility Advance Term Loan Q | ||
| 7.045% (1 Month SOFR + 3.25%), due 1/31/29 (b) | 1,340,000 | 1,333,635 |
| 2,220,901 | ||
| Services Business 0.0% ‡ | ||
| Beach Acquisition Bidco LLC | ||
| First Lien Tranche Term Loan B1 | ||
| 6.922% (3 Month SOFR + 3.25%), due 9/13/32 (b) | 365,000 | 365,912 |
| Total Loan Assignments (Cost $4,064,383) | 4,081,215 | |
| Mortgage-Backed Securities 11.0% | ||
| Agency (Collateralized Mortgage Obligations) 3.9% | ||
| FHLMC | ||
| REMIC, Series 5326, Class QO | ||
| (zero coupon), due 9/25/50 | 1,425,219 | 964,640 |
| REMIC, Series 5021, Class SA | ||
| (zero coupon) (SOFR 30A + 3.55%), due 10/25/50 (b)(h) | 2,570,967 | 52,378 |
| REMIC, Series 5200, Class SA | ||
| (zero coupon) (SOFR 30A + 3.50%), due 2/25/52 (b)(h) | 352,724 | 7,754 |
| REMIC, Series 5351, Class DO | ||
| (zero coupon), due 9/25/53 | 586,870 | 474,130 |
| REMIC, Series 5357, Class OE | ||
| (zero coupon), due 11/25/53 | 428,123 | 353,243 |
| REMIC, Series 5363 | ||
| (zero coupon), due 12/25/53 | 496,674 | 426,285 |
| REMIC, Series 5315, Class OQ | ||
| (zero coupon), due 1/25/55 | 630,239 | 520,315 |
| REMIC, Series 5514, Class SA | ||
| 1.403% (SOFR 30A + 5.10%), due 3/25/55 (b)(h) | 2,306,370 | 69,509 |
| REMIC, Series 5531, Class SD | ||
| 2.203% (SOFR 30A + 5.90%), due 4/25/55 (b)(h) | 2,939,132 | 183,994 |
| REMIC, Series 4994, Class TS | ||
| 2.288% (SOFR 30A + 5.986%), due 7/25/50 (b)(h) | 1,738,514 | 222,197 |
| REMIC, Series 5070, Class PI | ||
| 3.00%, due 8/25/50 (h) | 1,353,487 | 240,703 |
| REMIC, Series 5011, Class MI | ||
| 3.00%, due 9/25/50 (h) | 1,439,404 | 231,412 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| FHLMC | ||
| REMIC, Series 5023, Class LI | ||
| 3.00%, due 10/25/50 (h) | $ 1,023,250 | $ 163,895 |
| REMIC, Series 5094, Class IP | ||
| 3.00%, due 4/25/51 (h) | 1,168,237 | 188,271 |
| REMIC, Series 5160 | ||
| 3.00%, due 10/25/51 (h) | 1,240,611 | 136,764 |
| REMIC, Series 5547, Class ES | ||
| 3.303% (SOFR 30A + 7.00%), due 6/25/55 (b)(h) | 1,255,751 | 85,544 |
| REMIC, Series 5040 | ||
| 3.50%, due 11/25/50 (h) | 900,815 | 164,621 |
| FHLMC MSCR Trust | ||
| REMIC, Series 2025-MN12, Class B1 | ||
| 8.197% (SOFR 30A + 4.50%), due 11/25/45 (a)(b) | 1,060,000 | 1,077,807 |
| FHLMC, Strips | ||
| Series 272 | ||
| (zero coupon), due 8/15/42 | 895,655 | 695,918 |
| Series 402 | ||
| (zero coupon), due 9/25/53 | 733,704 | 623,033 |
| Series 311, Class S1 | ||
| 2.128% (SOFR 30A + 5.836%), due 8/15/43 (b)(h) | 2,702,139 | 279,215 |
| Series 397, Class C61 | ||
| 5.50%, due 1/25/53 (h) | 1,255,287 | 216,437 |
| FNMA | ||
| REMIC, Series 2023-70, Class AO | ||
| (zero coupon), due 3/25/53 | 605,562 | 515,748 |
| REMIC, Series 2023-45 | ||
| (zero coupon), due 10/25/53 | 709,588 | 561,195 |
| REMIC, Series 2023-24, Class OQ | ||
| (zero coupon), due 7/25/54 | 900,844 | 761,489 |
| REMIC, Series 2025-44, Class SD | ||
| 1.403% (SOFR 30A + 5.10%), due 6/25/55 (b)(h) | 3,859,340 | 146,472 |
| REMIC, Series 2024-82, Class DS | ||
| 1.453% (SOFR 30A + 5.15%), due 11/25/54 (b)(h) | 2,906,252 | 91,842 |
| REMIC, Series 2020-57, Class LJ | ||
| 2.00%, due 8/25/50 | 1,700,000 | 1,298,744 |
| REMIC, Series 2022-10, Class SA | ||
| 2.053% (SOFR 30A + 5.75%), due 2/25/52 (b)(h) | 1,598,662 | 182,120 |
| REMIC, Series 2025-103, Class SA | ||
| 2.133% (SOFR 30A + 5.83%), due 6/25/55 (b)(h) | 2,257,955 | 140,692 |
| REMIC, Series 2016-57, Class SN | ||
| 2.238% (SOFR 30A + 5.936%), due 6/25/46 (b)(h) | 1,422,421 | 154,191 |
| REMIC, Series 2021-3, Class TI | ||
| 2.50%, due 2/25/51 (h) | 1,109,542 | 188,861 |
| REMIC, Series 2021-12, Class JI | ||
| 2.50%, due 3/25/51 (h) | 1,126,244 | 176,826 |
| REMIC, Series 2021-34, Class MI | ||
| 2.50%, due 3/25/51 (h) | 3,127,830 | 413,677 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| FNMA | ||
| REMIC, Series 2021-54, Class HI | ||
| 2.50%, due 6/25/51 (h) | $ 476,126 | $ 55,878 |
| REMIC, Series 2021-53, Class GI | ||
| 3.00%, due 7/25/48 (h) | 4,523,457 | 741,297 |
| REMIC, Series 2021-85, Class BI | ||
| 3.00%, due 12/25/51 (h) | 3,181,185 | 566,173 |
| REMIC, Series 2025-18, Class SM | ||
| 3.403% (SOFR 30A + 7.10%), due 9/25/54 (b)(h) | 1,053,338 | 73,471 |
| REMIC, Series 2021-8, Class ID | ||
| 3.50%, due 3/25/51 (h) | 2,001,406 | 427,975 |
| FNMA, Strips (h) | ||
| Series 426, Class C32 | ||
| 1.50%, due 2/25/52 | 3,588,937 | 340,946 |
| Series 440, Class C46 | ||
| 4.00%, due 10/25/53 | 2,241,694 | 474,572 |
| Series 438, Class C34 | ||
| 6.00%, due 8/25/53 | 1,671,222 | 369,831 |
| GNMA | ||
| REMIC, Series 2020-1, Class YS | ||
| (zero coupon) (1 Month SOFR + 2.716%), due 1/20/50 (b)(h) | 2,775,525 | 11,669 |
| REMIC, Series 2021-16, Class AS | ||
| (zero coupon) (1 Month SOFR + 2.636%), due 1/20/51 (b)(h) | 3,957,805 | 12,484 |
| REMIC, Series 2023-101, Class KO | ||
| (zero coupon), due 1/20/51 | 1,249,169 | 824,573 |
| REMIC, Series 2021-29, Class AS | ||
| (zero coupon) (SOFR 30A + 2.70%), due 2/20/51 (b)(h) | 3,767,446 | 13,575 |
| REMIC, Series 2021-97, Class SA | ||
| (zero coupon) (SOFR 30A + 2.60%), due 6/20/51 (b)(h) | 5,082,016 | 22,325 |
| REMIC, Series 2021-136, Class SB | ||
| (zero coupon) (SOFR 30A + 3.20%), due 8/20/51 (b)(h) | 13,644,744 | 129,686 |
| REMIC, Series 2021-205, Class DS | ||
| (zero coupon) (SOFR 30A + 3.20%), due 11/20/51 (b)(h) | 5,641,110 | 57,043 |
| REMIC, Series 2021-226, Class SA | ||
| (zero coupon) (SOFR 30A + 1.70%), due 12/20/51 (b)(h) | 3,047,454 | 2,629 |
| REMIC, Series 2022-87, Class SA | ||
| (zero coupon) (SOFR 30A + 3.30%), due 5/20/52 (b)(h) | 3,980,779 | 38,229 |
| REMIC, Series 2022-107, Class SA | ||
| (zero coupon) (SOFR 30A + 3.47%), due 6/20/52 (b)(h) | 10,048,534 | 104,958 |
| REMIC, Series 2022-101, Class SB | ||
| (zero coupon) (SOFR 30A + 3.30%), due 6/20/52 (b)(h) | 1,994,803 | 19,689 |
| REMIC, Series 2023-66, Class OQ | ||
| (zero coupon), due 7/20/52 | 1,263,924 | 1,021,716 |
| REMIC, Series 2023-53 | ||
| (zero coupon), due 4/20/53 | 397,536 | 326,283 |
| REMIC, Series 2021-158, Class SB | ||
| 0.038% (SOFR 30A + 3.70%), due 9/20/51 (b)(h) | 3,184,690 | 85,285 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| GNMA | ||
| REMIC, Series 2022-78, Class S | ||
| 0.038% (SOFR 30A + 3.70%), due 4/20/52 (b)(h) | $ 2,085,015 | $ 38,563 |
| REMIC, Series 2023-80, Class SA | ||
| 1.547% (SOFR 30A + 5.25%), due 6/20/53 (b)(h) | 3,831,786 | 170,110 |
| REMIC, Series 2020-166, Class IC | ||
| 2.00%, due 11/20/50 (h) | 663,337 | 81,794 |
| REMIC, Series 2020-188 | ||
| 2.00%, due 12/20/50 (h) | 2,966,089 | 340,922 |
| REMIC, Series 2022-10, Class IC | ||
| 2.00%, due 11/20/51 (h) | 1,947,139 | 234,029 |
| REMIC, Series 2025-2, Class WZ | ||
| 2.00%, due 8/20/52 | 1,647,598 | 1,062,814 |
| REMIC, Series 2020-34, Class SC | ||
| 2.26% (1 Month SOFR + 5.936%), due 3/20/50 (b)(h) | 1,895,120 | 237,663 |
| REMIC, Series 2025-131, Class S | ||
| 2.347% (SOFR 30A + 6.05%), due 8/20/55 (b)(h) | 1,745,829 | 135,940 |
| REMIC, Series 2020-188, Class DI | ||
| 2.50%, due 12/20/50 (h) | 3,918,648 | 576,602 |
| REMIC, Series 2021-1, Class PI | ||
| 2.50%, due 12/20/50 (h) | 760,237 | 116,270 |
| REMIC, Series 2021-83, Class FM | ||
| 2.50% (SOFR 30A + 0.51%), due 5/20/51 (b) | 1,584,770 | 1,307,227 |
| REMIC, Series 2021-188 | ||
| 2.50%, due 10/20/51 (h) | 3,466,623 | 570,345 |
| REMIC, Series 2020-146, Class SA | ||
| 2.51% (1 Month SOFR + 6.186%), due 10/20/50 (b)(h) | 1,858,434 | 251,065 |
| REMIC, Series 2021-179, Class SA | ||
| 2.51% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | 2,520,237 | 353,235 |
| REMIC, Series 2020-167, Class SN | ||
| 2.51% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | 1,206,335 | 165,351 |
| REMIC, Series 2020-189, Class NS | ||
| 2.51% (1 Month SOFR + 6.186%), due 12/20/50 (b)(h) | 2,956,884 | 418,713 |
| REMIC, Series 2020-189, Class SU | ||
| 2.51% (1 Month SOFR + 6.186%), due 12/20/50 (b)(h) | 606,608 | 86,012 |
| REMIC, Series 2021-46, Class QS | ||
| 2.51% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | 658,250 | 86,333 |
| REMIC, Series 2021-57, Class SD | ||
| 2.51% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | 6,272,001 | 836,882 |
| REMIC, Series 2021-46, Class TS | ||
| 2.51% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | 1,434,864 | 188,219 |
| REMIC, Series 2021-96, Class NS | ||
| 2.51% (1 Month SOFR + 6.186%), due 6/20/51 (b)(h) | 3,754,033 | 485,860 |
| REMIC, Series 2021-97, Class SM | ||
| 2.51% (1 Month SOFR + 6.186%), due 6/20/51 (b)(h) | 953,257 | 128,431 |
| REMIC, Series 2021-96, Class SN | ||
| 2.51% (1 Month SOFR + 6.186%), due 6/20/51 (b)(h) | 2,228,482 | 281,306 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| GNMA | ||
| REMIC, Series 2021-122, Class HS | ||
| 2.51% (1 Month SOFR + 6.186%), due 7/20/51 (b)(h) | $ 2,191,466 | $ 298,721 |
| REMIC, Series 2021-96, Class JS | ||
| 2.56% (1 Month SOFR + 6.236%), due 6/20/51 (b)(h) | 1,762,854 | 245,930 |
| REMIC, Series 2023-86, Class SE | ||
| 2.947% (SOFR 30A + 6.65%), due 9/20/50 (b)(h) | 1,483,581 | 223,027 |
| REMIC, Series 2021-1, Class IT | ||
| 3.00%, due 1/20/51 (h) | 1,772,135 | 307,474 |
| REMIC, Series 2021-44, Class IQ | ||
| 3.00%, due 3/20/51 (h) | 3,016,173 | 506,226 |
| REMIC, Series 2021-74, Class HI | ||
| 3.00%, due 4/20/51 (h) | 314,842 | 47,161 |
| REMIC, Series 2021-67, Class PI | ||
| 3.00%, due 4/20/51 (h) | 1,289,089 | 219,089 |
| REMIC, Series 2021-98, Class IN | ||
| 3.00%, due 6/20/51 (h) | 1,259,675 | 228,761 |
| REMIC, Series 2024-48, Class JI | ||
| 3.00%, due 7/20/51 (h) | 1,918,253 | 323,345 |
| REMIC, Series 2022-207 | ||
| 3.00%, due 8/20/51 (h) | 1,974,606 | 331,723 |
| REMIC, Series 2021-139, Class IA | ||
| 3.00%, due 8/20/51 (h) | 4,189,975 | 753,050 |
| REMIC, Series 2021-177, Class IM | ||
| 3.00%, due 10/20/51 (h) | 2,899,536 | 493,123 |
| REMIC, Series 2019-128, Class YF | ||
| 3.50% (1 Month SOFR + 0.764%), due 10/20/49 (b) | 462,681 | 420,339 |
| REMIC, Series 2023-1, Class HD | ||
| 3.50%, due 1/20/52 | 671,968 | 612,363 |
| REMIC, Series 2023-60, Class ES | ||
| 3.794% (SOFR 30A + 11.20%), due 4/20/53 (b) | 817,529 | 758,495 |
| REMIC, Series 2016-93, Class AI | ||
| 4.50%, due 7/20/44 (h) | 1,494,014 | 347,987 |
| REMIC, Series 2024-164, Class PB | ||
| 4.50%, due 1/20/54 | 322,359 | 319,884 |
| REMIC, Series 2023-66, Class MP | ||
| 4.894% (SOFR 30A + 12.30%), due 5/20/53 (b) | 1,093,758 | 1,040,369 |
| REMIC, Series 2023-38, Class WT | ||
| 6.464%, due 12/20/51 (i) | 546,467 | 576,709 |
| REMIC, Series 2023-59, Class YC | ||
| 7.076%, due 9/20/51 (i) | 1,191,635 | 1,312,526 |
| REMIC, Series 2023-55, Class LB | ||
| 7.722%, due 11/20/51 (i) | 787,834 | 899,445 |
| REMIC, Series 2023-55, Class CG | ||
| 7.833%, due 7/20/51 (i) | 816,392 | 929,472 |
| Multifamily Connecticut Avenue Securities Trust (a)(b) | ||
| Series 2025-01, Class M2 | ||
| 6.797% (SOFR 30A + 3.10%), due 5/25/55 | 930,000 | 927,887 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| Multifamily Connecticut Avenue Securities Trust (a)(b) | ||
| Series 2019-01, Class B10 | ||
| 9.312% (SOFR 30A + 5.614%), due 10/25/49 | $ 1,040,000 | $ 1,060,449 |
| Series 2023-01, Class M10 | ||
| 10.197% (SOFR 30A + 6.50%), due 11/25/53 | 735,000 | 837,022 |
| Series 2020-01, Class CE | ||
| 11.312% (SOFR 30A + 7.614%), due 3/25/50 | 1,400,000 | 1,447,633 |
| Seasoned Credit Risk Transfer Trust | ||
| Series 2025-1, Class MTU | ||
| 3.25%, due 11/25/64 | 2,164,452 | 1,883,738 |
| 43,235,843 | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.3% | ||
| BAMLL Commercial Mortgage Securities Trust | ||
| Series 2016-ISQ, Class A | ||
| 2.848%, due 8/14/34 (a) | 1,270,000 | 1,055,687 |
| BANK | ||
| Series 2019-BN19, Class C | ||
| 4.031%, due 8/15/61 (j) | 1,060,000 | 783,905 |
| Series 2017-BNK4, Class C | ||
| 4.372%, due 5/15/50 (i) | 1,020,000 | 905,422 |
| Bank of America Merrill Lynch Commercial Mortgage Trust | ||
| Series 2016-UB10, Class D | ||
| 3.00%, due 7/15/49 (a) | 1,170,000 | 1,018,301 |
| Benchmark Mortgage Trust (j) | ||
| Series 2018-B6, Class D | ||
| 3.086%, due 10/10/51 (a) | 815,000 | 614,984 |
| Series 2019-B14, Class C | ||
| 3.778%, due 12/15/62 | 1,260,000 | 892,267 |
| Series 2018-B1, Class C | ||
| 4.201%, due 1/15/51 | 1,055,000 | 864,163 |
| BF Mortgage Trust | ||
| Series 2019-NYT, Class F | ||
| 6.978% (1 Month SOFR + 3.297%), due 12/15/35 (a)(b) | 1,280,000 | 1,142,450 |
| BFLD Commercial Mortgage Trust | ||
| Series 2025-5MW, Class C | ||
| 5.451%, due 10/10/42 (a)(j) | 1,050,000 | 1,060,137 |
| BMO Mortgage Trust | ||
| Series 2022-C1, Class 111A | ||
| 3.269%, due 2/17/55 (a)(j) | 1,400,000 | 1,315,532 |
| BSST Mortgage Trust | ||
| Series 2022-1700, Class A | ||
| 4.981% (1 Month SOFR + 1.30%), due 2/15/37 (a)(b) | 1,025,000 | 882,276 |
| BWAY Mortgage Trust | ||
| Series 2013-1515, Class C | ||
| 3.446%, due 3/10/33 (a) | 955,000 | 881,024 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
| BX Commercial Mortgage Trust (a) | ||
| Series 2024-VLT5, Class E | ||
| 8.134%, due 11/13/46 (j) | $ 945,000 | $ 1,015,124 |
| Series 2024-BRBK, Class D | ||
| 9.648% (1 Month SOFR + 5.971%), due 10/15/41 (b) | 780,000 | 782,925 |
| BX Trust | ||
| Series 2025-VLT7, Class E | ||
| 7.43% (1 Month SOFR + 3.75%), due 7/15/44 (a)(b) | 525,000 | 525,000 |
| CFCRE Commercial Mortgage Trust | ||
| Series 2016-C3, Class D | ||
| 3.052%, due 1/10/48 (a)(j) | 890,000 | 863,300 |
| CFK Trust | ||
| Series 2020-MF2, Class E | ||
| 3.458%, due 3/15/39 (a)(j) | 1,400,000 | 1,064,300 |
| Citigroup Commercial Mortgage Trust | ||
| Series 2018-B2, Class D | ||
| 3.145%, due 3/10/51 (a)(j) | 1,730,000 | 1,317,317 |
| Commercial Mortgage Trust (a) | ||
| Series 2020-CX, Class D | ||
| 2.683%, due 11/10/46 (j) | 1,270,000 | 1,014,219 |
| Series 2018-HCLV, Class A | ||
| 4.976% (1 Month SOFR + 1.296%), due 9/15/33 (b) | 850,000 | 784,531 |
| DLIC Re-REMIC Trust | ||
| Series 2025-FRR1, Class C104 | ||
| 1.635%, due 12/27/52 (a)(i) | 1,300,000 | 1,098,252 |
| FHLMC MSCR Trust (a)(b) | ||
| Series 2021-MN3, Class M1 | ||
| 5.997% (SOFR 30A + 2.30%), due 11/25/51 | 321,788 | 322,094 |
| Series 2024-MN9, Class M2 | ||
| 6.947% (SOFR 30A + 3.25%), due 10/25/44 | 1,175,000 | 1,193,335 |
| GNMA (h) | ||
| REMIC, Series 2025-112 | ||
| 0.566%, due 3/16/66 (j) | 5,481,945 | 281,280 |
| REMIC, Series 2023-194, Class CI | ||
| 0.818%, due 10/16/65 (j) | 4,185,411 | 257,472 |
| REMIC, Series 2023-159, Class CI | ||
| 0.955%, due 7/16/65 (i) | 5,640,059 | 394,426 |
| REMIC, Series 2020-168, Class IA | ||
| 0.974%, due 12/16/62 (j) | 2,796,030 | 198,729 |
| REMIC, Series 2021-47 | ||
| 0.992%, due 3/16/61 (j) | 6,658,876 | 440,110 |
| REMIC, Series 2022-185, Class DI | ||
| 1.022%, due 10/16/65 (j) | 2,435,598 | 166,373 |
| REMIC, Series 2023-172 | ||
| 1.331%, due 2/16/66 (j) | 3,856,912 | 351,008 |
| GS Mortgage Securities Trust | ||
| Series 2015-GC30, Class D | ||
| 3.384%, due 5/10/50 | 2,150,000 | 1,198,625 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
| GS Mortgage Securities Trust | ||
| Series 2015-GC30, Class B | ||
| 3.998%, due 5/10/50 (j) | $ 357,456 | $ 346,679 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust (a) | ||
| Series 2012-WLDN, Class A | ||
| 3.905%, due 5/5/30 | 864,997 | 834,722 |
| Series 2021-1440, Class A | ||
| 5.095% (1 Month SOFR + 1.414%), due 3/15/36 (b) | 910,000 | 855,915 |
| JPMDB Commercial Mortgage Securities Trust | ||
| Series 2017-C7, Class D | ||
| 3.00%, due 10/15/50 (a) | 1,055,000 | 813,918 |
| Morgan Stanley Bank of America Merrill Lynch Trust (a)(j) | ||
| Series 2015-C22, Class D | ||
| 3.973%, due 4/15/48 | 1,450,000 | 819,395 |
| Series 2015-C23, Class D | ||
| 4.209%, due 7/15/50 | 155,047 | 150,631 |
| Morgan Stanley Capital I Trust (a) | ||
| Series 2021-230P, Class A | ||
| 4.964% (1 Month SOFR + 1.284%), due 12/15/38 (b) | 580,000 | 563,325 |
| Series 2015-420, Class A | ||
| 7.982%, due 10/12/50 (f) | 657,843 | 666,126 |
| Natixis Commercial Mortgage Securities Trust | ||
| Series 2020-2PAC, Class AMZ1 | ||
| 3.50%, due 1/15/37 (a)(j) | 1,275,000 | 1,103,524 |
| UBS Commercial Mortgage Trust | ||
| Series 2018-C10, Class D | ||
| 3.00%, due 5/15/51 (a) | 640,000 | 530,384 |
| Series 2019-C16, Class AS | ||
| 3.887%, due 4/15/52 | 480,000 | 456,401 |
| Series 2018-C9, Class C | ||
| 4.962%, due 3/15/51 (j) | 1,390,000 | 952,625 |
| WB Commercial Mortgage Trust | ||
| Series 2024-HQ, Class A | ||
| 6.134%, due 3/15/40 (a)(j) | 615,000 | 616,018 |
| Wells Fargo Commercial Mortgage Trust | ||
| Series 2018-C43, Class D | ||
| 3.00%, due 3/15/51 (a) | 250,000 | 209,552 |
| Series 2016-NXS5, Class D | ||
| 4.875%, due 1/15/59 (j) | 570,000 | 434,032 |
| Series 2022-ONL, Class E | ||
| 4.928%, due 12/15/39 (a)(j) | 1,020,000 | 937,830 |
| WP Glimcher Mall Trust | ||
| Series 2015-WPG, Class C | ||
| 3.516%, due 6/5/35 (a)(j) | 1,140,000 | 968,989 |
| 35,944,634 | ||
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Whole Loan (Collateralized Mortgage Obligations) 3.8% | ||
| BRAVO Residential Funding Trust | ||
| Series 2024-NQM8, Class A1A | ||
| 4.30%, due 8/1/53 (a)(f) | $ 471,505 | $ 467,520 |
| CIM Trust | ||
| Series 2021-J2, Class AS | ||
| 0.21%, due 4/25/51 (a)(h)(i) | 36,998,026 | 459,553 |
| Citigroup Mortgage Loan Trust (a)(i) | ||
| Series 2014-C, Class B3 | ||
| 4.25%, due 2/25/54 | 1,580,000 | 1,359,338 |
| Series 2025-LTV1, Class A1 | ||
| 5.237%, due 12/25/55 | 1,221,573 | 1,223,996 |
| Connecticut Avenue Securities Trust (a)(b) | ||
| Series 2025-R01, Class 1B1 | ||
| 5.397% (SOFR 30A + 1.70%), due 1/25/45 | 710,000 | 707,787 |
| Series 2025-R02, Class 1B1 | ||
| 5.647% (SOFR 30A + 1.95%), due 2/25/45 | 370,000 | 373,033 |
| Series 2021-R03, Class 1B1 | ||
| 6.447% (SOFR 30A + 2.75%), due 12/25/41 | 450,000 | 456,750 |
| Series 2023-R07, Class 2M2 | ||
| 6.947% (SOFR 30A + 3.25%), due 9/25/43 | 1,730,000 | 1,789,975 |
| Series 2023-R03, Class 2M2 | ||
| 7.597% (SOFR 30A + 3.90%), due 4/25/43 | 1,355,000 | 1,428,534 |
| Series 2021-R03, Class 1B2 | ||
| 9.197% (SOFR 30A + 5.50%), due 12/25/41 | 475,000 | 490,621 |
| Series 2021-R02, Class 2B2 | ||
| 9.897% (SOFR 30A + 6.20%), due 11/25/41 | 880,000 | 908,505 |
| Series 2020-SBT1, Class 1B1 | ||
| 10.562% (SOFR 30A + 6.864%), due 2/25/40 | 1,580,000 | 1,658,510 |
| Series 2022-R02, Class 2B2 | ||
| 11.347% (SOFR 30A + 7.65%), due 1/25/42 | 1,055,000 | 1,115,369 |
| Series 2019-HRP1, Class B1 | ||
| 13.062% (SOFR 30A + 9.364%), due 11/25/39 | 1,790,241 | 1,889,981 |
| FHLMC STACR REMIC Trust (a)(b) | ||
| Series 2020-HQA1, Class B2 | ||
| 8.912% (SOFR 30A + 5.214%), due 1/25/50 | 1,320,000 | 1,471,278 |
| Series 2022-HQA3, Class M2 | ||
| 9.047% (SOFR 30A + 5.35%), due 8/25/42 | 640,000 | 681,114 |
| Series 2021-HQA3, Class B2 | ||
| 9.947% (SOFR 30A + 6.25%), due 9/25/41 | 1,865,000 | 1,918,396 |
| Series 2021-HQA4, Class B2 | ||
| 10.697% (SOFR 30A + 7.00%), due 12/25/41 | 1,505,000 | 1,571,310 |
| Series 2022-HQA1, Class B1 | ||
| 10.697% (SOFR 30A + 7.00%), due 3/25/42 | 1,355,000 | 1,443,540 |
| Series 2022-DNA1, Class B2 | ||
| 10.797% (SOFR 30A + 7.10%), due 1/25/42 | 1,360,000 | 1,425,277 |
| FHLMC STACR Securitized Participation Interests Trust | ||
| REMIC, Series 2018-SPI3, Class B | ||
| 4.156%, due 8/25/48 (a)(i) | 1,563,234 | 1,220,198 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Whole Loan (Collateralized Mortgage Obligations) | ||
| FHLMC STACR Trust (a)(b) | ||
| REMIC, Series 2019-FTR3, Class B2 | ||
| 8.612% (SOFR 30A + 4.914%), due 9/25/47 | $ 1,345,000 | $ 1,470,879 |
| REMIC, Series 2019-FTR1, Class B2 | ||
| 12.162% (SOFR 30A + 8.464%), due 1/25/48 | 1,090,000 | 1,304,710 |
| REMIC, Series 2019-HQA2, Class B2 | ||
| 15.062% (SOFR 30A + 11.364%), due 4/25/49 | 1,010,000 | 1,211,689 |
| Flagstar Mortgage Trust | ||
| Series 2021-6INV, Class A18 | ||
| 2.50%, due 8/25/51 (a)(i) | 82,738 | 69,118 |
| GS Mortgage-Backed Securities Trust (a) | ||
| Series 2021-PJ6, Class A2 | ||
| 2.50%, due 11/25/51 (i) | 1,800,045 | 1,512,038 |
| Series 2022-HP1, Class B4 | ||
| 3.31%, due 9/25/52 (j) | 717,645 | 602,312 |
| J.P. Morgan Mortgage Trust | ||
| Series 2021-4, Class B1 | ||
| 2.879%, due 8/25/51 (a)(j) | 2,319,714 | 1,962,349 |
| LOANDEPOT GMSR Master Trust | ||
| Series 2025-GT2, Class A | ||
| 6.823% (1 Month SOFR + 3.15%), due 7/16/30 (a)(b) | 1,250,000 | 1,259,736 |
| Mill City Mortgage Loan Trust (a)(i) | ||
| Series 2018-4, Class B4 | ||
| 3.045%, due 4/25/66 | 1,063,757 | 634,830 |
| Series 2018-3, Class B2 | ||
| 3.25%, due 8/25/58 | 1,806,150 | 1,397,003 |
| Series 2018-3, Class B4 | ||
| 3.672%, due 8/25/58 | 668,575 | 428,112 |
| OBX Trust | ||
| Series 2025-R1, Class A1 | ||
| 4.94%, due 9/25/62 (a)(f) | 640,447 | 642,826 |
| RCKT Mortgage Trust | ||
| Series 2021-5, Class A1 | ||
| 2.50%, due 11/25/51 (a)(i) | 2,109,632 | 1,770,773 |
| STACR Trust | ||
| Series 2018-HRP1, Class B2 | ||
| 15.562% (SOFR 30A + 11.864%), due 5/25/43 (a)(b) | 1,823,352 | 2,148,691 |
| Towd Point Mortgage Trust (a)(i) | ||
| Series 2018-2, Class B5 | ||
| (zero coupon), due 3/25/58 | 1,204,022 | 533,484 |
| Series 2017-4, Class B5 | ||
| 3.643%, due 6/25/57 | 857,704 | 607,255 |
| 41,616,390 | ||
| Total Mortgage-Backed Securities (Cost $119,218,224) | 120,796,867 | |
| Principal Amount | Value | |
| U.S. Government & Federal Agencies 7.3% | ||
| Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.3% | ||
| FHLMC Gold Pools, 30 Year | ||
| 3.50%, due 9/1/47 | $ 981,673 | $ 925,070 |
| 3.50%, due 11/1/47 | 1,880,000 | 1,770,844 |
| UMBS Pool, 30 Year | ||
| 2.00%, due 3/1/52 | 3,455,006 | 2,811,793 |
| 3.00%, due 6/1/52 | 1,465,671 | 1,301,699 |
| 3.50%, due 9/1/52 | 36,797 | 34,072 |
| 4.00%, due 3/1/53 | 1,948,926 | 1,872,574 |
| 4.50%, due 10/1/52 | 1,975,611 | 1,943,389 |
| 5.00%, due 12/1/55 | 793,888 | 797,815 |
| 5.50%, due 7/1/53 | 895,721 | 910,987 |
| 5.50%, due 11/1/54 | 695,378 | 710,307 |
| 6.00%, due 8/1/55 | 1,667,808 | 1,708,046 |
| 14,786,596 | ||
| Federal National Mortgage Association (Mortgage Pass-Through Securities) 1.9% | ||
| UMBS, 30 Year | ||
| 2.00%, due 10/1/50 | 4,048,465 | 3,306,692 |
| 2.00%, due 3/1/52 | 639,829 | 520,613 |
| 2.50%, due 6/1/51 | 324,978 | 281,209 |
| 2.50%, due 11/1/51 | 4,418,656 | 3,784,451 |
| 2.50%, due 5/1/52 | 1,553,677 | 1,327,162 |
| 4.00%, due 8/1/48 | 353,549 | 343,738 |
| 4.00%, due 2/1/49 | 197,939 | 190,403 |
| 4.00%, due 6/1/52 | 736,335 | 705,037 |
| 4.00%, due 6/1/52 | 597,289 | 573,935 |
| 4.00%, due 5/1/53 | 858,577 | 822,602 |
| 4.50%, due 1/1/54 | 882,136 | 866,657 |
| 5.00%, due 11/1/52 | 2,393,081 | 2,402,443 |
| 5.00%, due 3/1/53 | 1,252,530 | 1,257,366 |
| 5.50%, due 2/1/53 | 335,796 | 341,726 |
| 5.50%, due 8/1/53 | 400,563 | 411,045 |
| 5.50%, due 5/1/54 | 2,027,043 | 2,056,658 |
| 6.00%, due 9/1/53 | 3,272 | 3,367 |
| 6.00%, due 9/1/54 | 1,535,468 | 1,575,163 |
| 20,770,267 | ||
| Government National Mortgage Association (Mortgage Pass-Through Securities) 0.4% | ||
| GNMA I, Single Family, 30 Year | ||
| 6.50%, due 4/15/29 | 3 | 3 |
| GNMA II, Single Family, 30 Year | ||
| 3.00%, due 10/20/51 | 2,308,314 | 2,085,980 |
| 3.00%, due 11/20/51 | 2,663,712 | 2,407,296 |
| 4,493,279 | ||
| Principal Amount | Value | |
| U.S. Government & Federal Agencies | ||
| United States Treasury Bonds 0.8% | ||
| U.S. Treasury Bonds | ||
| 4.625%, due 11/15/45 (c) | $ 5,105,000 | $ 4,965,410 |
| 4.625%, due 11/15/55 | 3,370,000 | 3,229,934 |
| 8,195,344 | ||
| United States Treasury Notes 2.9% | ||
| U.S. Treasury Notes | ||
| 3.50%, due 1/15/29 | 2,415,000 | 2,408,019 |
| 3.75%, due 1/31/31 | 8,525,000 | 8,503,687 |
| 4.00%, due 1/31/33 | 14,755,000 | 14,729,640 |
| 4.00%, due 11/15/35 | 3,975,000 | 3,893,637 |
| 4.25%, due 12/31/26 | 2,500,000 | 2,515,059 |
| 32,050,042 | ||
| Total U.S. Government & Federal Agencies (Cost $79,851,774) | 80,295,528 | |
| Total Long-Term Bonds (Cost $378,705,896) | 378,018,926 | |
| Shares | ||
| Common Stocks 62.2% | ||
| Aerospace & Defense 1.6% | ||
| BAE Systems plc (United Kingdom) | 241,859 | 6,532,909 |
| General Dynamics Corp. | 10,267 | 3,604,641 |
| Lockheed Martin Corp. | 11,387 | 7,221,863 |
| 17,359,413 | ||
| Air Freight & Logistics 0.9% | ||
| Deutsche Post AG (Germany) | 95,682 | 5,366,876 |
| United Parcel Service, Inc., Class B | 38,989 | 4,141,412 |
| 9,508,288 | ||
| Automobile Components 0.3% | ||
| Cie Generale des Etablissements Michelin SCA (France) | 100,950 | 3,751,375 |
| Automobiles 0.4% | ||
| Toyota Motor Corp. (Japan) | 197,000 | 4,460,377 |
| Banks 4.7% | ||
| Bank of America Corp. | 147,227 | 7,832,476 |
| BAWAG Group AG (Austria) (a) | 36,139 | 5,885,854 |
| Columbia Banking System, Inc. | 194,504 | 5,726,198 |
| JPMorgan Chase & Co. | 25,000 | 7,647,250 |
| Lloyds Banking Group plc (United Kingdom) | 2,882,846 | 4,297,797 |
| Regions Financial Corp. | 165,404 | 4,714,014 |
| Royal Bank of Canada (Canada) | 28,311 | 4,713,891 |
| Truist Financial Corp. | 90,156 | 4,635,821 |
| Shares | Value | |
| Common Stocks | ||
| Banks | ||
| U.S. Bancorp | 116,244 | $ 6,522,451 |
| 51,975,752 | ||
| Beverages 1.6% | ||
| Coca-Cola Co. (The) | 76,969 | 5,758,051 |
| Coca-Cola Europacific Partners plc (United Kingdom) | 83,034 | 7,614,218 |
| PepsiCo, Inc. | 27,166 | 4,173,512 |
| 17,545,781 | ||
| Biotechnology 1.2% | ||
| AbbVie, Inc. | 59,082 | 13,175,877 |
| Capital Markets 1.3% | ||
| BlackRock, Inc. | 3,273 | 3,662,291 |
| Lazard, Inc. | 128,639 | 6,910,487 |
| Schroders plc (United Kingdom) | 655,242 | 4,049,047 |
| 14,621,825 | ||
| Chemicals 1.4% | ||
| Croda International plc (United Kingdom) | 90,812 | 3,389,884 |
| Linde plc | 13,216 | 6,039,316 |
| Nutrien Ltd. (Canada) | 80,460 | 5,542,889 |
| 14,972,089 | ||
| Commercial Services & Supplies 0.0% ‡ | ||
| Quad/Graphics, Inc. | 10 | 61 |
| Communications Equipment 1.4% | ||
| Cisco Systems, Inc. | 197,976 | 15,505,480 |
| Construction & Engineering 0.4% | ||
| Vinci SA (France) | 26,457 | 3,799,361 |
| Consumer Staples Distribution & Retail 0.3% | ||
| Walmart, Inc. | 31,318 | 3,731,227 |
| Diversified Telecommunication Services 2.8% | ||
| AT&T, Inc. | 316,605 | 8,298,217 |
| Deutsche Telekom AG (Registered) (Germany) | 161,370 | 5,388,356 |
| Infrastrutture Wireless Italiane SpA (Italy) (c) | 407,090 | 3,590,128 |
| Orange SA (France) | 365,160 | 6,760,998 |
| Verizon Communications, Inc. | 145,940 | 6,497,249 |
| 30,534,948 | ||
| Electric Utilities 3.2% | ||
| American Electric Power Co., Inc. | 66,006 | 7,905,869 |
| Duke Energy Corp. | 31,572 | 3,831,262 |
| Shares | Value | |
| Common Stocks | ||
| Electric Utilities | ||
| Entergy Corp. | 76,899 | $ 7,373,845 |
| NextEra Energy, Inc. | 90,434 | 7,949,149 |
| Pinnacle West Capital Corp. | 41,552 | 3,887,605 |
| Terna - Rete Elettrica Nazionale (Italy) | 354,395 | 3,833,669 |
| 34,781,399 | ||
| Electrical Equipment 0.3% | ||
| Eaton Corp. plc | 10,628 | 3,734,892 |
| Food Products 1.2% | ||
| McCormick & Co., Inc. (Non-Voting) | 81,321 | 5,028,078 |
| Mondelez International, Inc., Class A | 85,311 | 4,988,134 |
| Nestle SA (Registered) | 35,832 | 3,403,588 |
| 13,419,800 | ||
| Gas Utilities 0.5% | ||
| Snam SpA (Italy) | 851,828 | 5,854,324 |
| Health Care Equipment & Supplies 0.6% | ||
| Medtronic plc | 67,321 | 6,931,370 |
| Health Care Providers & Services 0.8% | ||
| CVS Health Corp. | 123,736 | 9,220,807 |
| Hotels, Restaurants & Leisure 1.4% | ||
| McDonald's Corp. | 19,613 | 6,178,095 |
| Restaurant Brands International, Inc. (Canada) | 94,413 | 6,324,727 |
| Vail Resorts, Inc. (c) | 25,159 | 3,347,908 |
| 15,850,730 | ||
| Household Products 0.4% | ||
| Reckitt Benckiser Group plc (United Kingdom) | 45,485 | 3,791,624 |
| Industrial Conglomerates 0.9% | ||
| Honeywell International, Inc. | 18,729 | 4,261,222 |
| Siemens AG (Registered) (Germany) | 16,891 | 5,131,574 |
| 9,392,796 | ||
| Industrial REITs 0.4% | ||
| Segro plc (United Kingdom) | 379,222 | 3,936,439 |
| Insurance 3.3% | ||
| AIA Group Ltd. (Hong Kong) | 472,000 | 5,458,865 |
| Allianz SE (Registered) (Germany) | 13,278 | 5,851,789 |
| AXA SA (France) | 105,513 | 4,806,434 |
| Manulife Financial Corp. (Canada) | 255,835 | 9,745,648 |
| MetLife, Inc. | 99,271 | 7,830,497 |
| Shares | Value | |
| Common Stocks | ||
| Insurance | ||
| Muenchener Rueckversicherungs-Gesellschaft AG (Registered) (Germany) | 5,077 | $ 3,083,634 |
| 36,776,867 | ||
| Interactive Media & Services 1.1% | ||
| Alphabet, Inc., Class C | 18,542 | 6,277,023 |
| Meta Platforms, Inc., Class A | 8,637 | 6,188,411 |
| 12,465,434 | ||
| IT Services 1.3% | ||
| International Business Machines Corp. | 45,671 | 14,007,296 |
| Leisure Products 0.7% | ||
| Hasbro, Inc. | 89,273 | 7,972,972 |
| Machinery 1.2% | ||
| Cummins, Inc. | 11,478 | 6,643,696 |
| Toro Co. (The) | 71,174 | 6,512,421 |
| 13,156,117 | ||
| Media 0.4% | ||
| Omnicom Group, Inc. | 59,369 | 4,573,788 |
| Multi-Utilities 0.5% | ||
| NiSource, Inc. | 127,025 | 5,625,937 |
| Oil, Gas & Consumable Fuels 2.5% | ||
| Chevron Corp. | 39,014 | 6,901,577 |
| Equinor ASA (Norway) | 156,921 | 4,187,601 |
| MPLX LP | 122,724 | 6,860,272 |
| ONEOK, Inc. | 61,725 | 4,888,003 |
| TotalEnergies SE (France) | 56,328 | 4,082,887 |
| 26,920,340 | ||
| Personal Care Products 0.4% | ||
| Unilever plc (United Kingdom) | 56,992 | 3,852,849 |
| Pharmaceuticals 5.6% | ||
| Astellas Pharma, Inc. (Japan) | 355,500 | 4,924,993 |
| AstraZeneca plc, Sponsored ADR (United Kingdom) | 71,996 | 6,679,069 |
| Bristol-Myers Squibb Co. | 86,784 | 4,777,459 |
| Eli Lilly & Co. | 3,634 | 3,769,003 |
| GSK plc | 225,993 | 5,802,842 |
| Johnson & Johnson | 27,262 | 6,195,289 |
| Merck & Co., Inc. | 57,631 | 6,354,970 |
| Novartis AG (Registered) | 50,381 | 7,469,983 |
| Pfizer, Inc. | 144,431 | 3,818,756 |
| Roche Holding AG | 10,976 | 4,979,346 |
| Shares | Value | |
| Common Stocks | ||
| Pharmaceuticals | ||
| Sanofi SA (France) | 72,975 | $ 6,850,873 |
| 61,622,583 | ||
| Professional Services 0.6% | ||
| Intertek Group plc (United Kingdom) | 60,538 | 3,697,851 |
| Paychex, Inc. | 31,970 | 3,297,066 |
| 6,994,917 | ||
| Retail REITs 0.4% | ||
| Realty Income Corp. | 64,255 | 3,929,836 |
| Semiconductors & Semiconductor Equipment 5.7% | ||
| Analog Devices, Inc. | 39,619 | 12,316,755 |
| Broadcom, Inc. | 40,229 | 13,327,868 |
| Microchip Technology, Inc. | 145,887 | 11,075,741 |
| Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Taiwan) | 45,070 | 14,898,339 |
| Texas Instruments, Inc. | 52,341 | 11,282,102 |
| 62,900,805 | ||
| Software 1.2% | ||
| Microsoft Corp. | 31,012 | 13,344,153 |
| Specialized REITs 0.9% | ||
| Iron Mountain, Inc. | 65,574 | 6,041,333 |
| VICI Properties, Inc. | 133,526 | 3,749,410 |
| 9,790,743 | ||
| Specialty Retail 0.8% | ||
| Best Buy Co., Inc. | 49,865 | 3,246,211 |
| Home Depot, Inc. (The) | 15,900 | 5,955,981 |
| 9,202,192 | ||
| Technology Hardware, Storage & Peripherals 4.6% | ||
| Apple, Inc. | 30,286 | 7,858,611 |
| Dell Technologies, Inc., Class C | 97,051 | 11,106,517 |
| Hewlett Packard Enterprise Co. | 566,579 | 12,192,780 |
| NetApp, Inc. | 55,764 | 5,372,861 |
| Samsung Electronics Co. Ltd., GDR (Republic of Korea) | 5,226 | 14,392,404 |
| 50,923,173 | ||
| Tobacco 1.3% | ||
| Imperial Brands plc (United Kingdom) | 123,765 | 5,192,389 |
| Philip Morris International, Inc. | 47,302 | 8,487,871 |
| 13,680,260 | ||
| Trading Companies & Distributors 1.0% | ||
| MSC Industrial Direct Co., Inc., Class A | 81,914 | 6,908,627 |
| Watsco, Inc. | 11,378 | 4,397,028 |
| 11,305,655 | ||
| Shares | Value | ||
| Common Stocks | |||
| Water Utilities 0.3% | |||
| Essential Utilities, Inc. | 92,538 | $ 3,589,549 | |
| Wireless Telecommunication Services 0.4% | |||
| Rogers Communications, Inc., Class B (Canada) | 101,091 | 3,816,015 | |
| Total Common Stocks (Cost $426,608,436) | 684,307,516 | ||
| Short-Term Investments 2.7% | |||
| Affiliated Investment Company 1.8% | |||
| NYLI U.S. Government Liquidity Fund, 3.523% (k) | 20,102,324 | 20,102,324 | |
| Unaffiliated Investment Company 0.9% | |||
| Invesco Government & Agency Portfolio, 3.682% (k)(l) | 9,423,949 | 9,423,949 | |
| Total Short-Term Investments (Cost $29,526,273) | 29,526,273 | ||
| Total Investments (Cost $834,840,605) | 99.2% | 1,091,852,715 | |
| Other Assets, Less Liabilities | 0.8 | 9,055,865 | |
| Net Assets | 100.0% | $ 1,100,908,580 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Floating rate—Rate shown was the rate in effect as of January 31, 2026. |
| (c) | All or a portion of this security was held on loan. As of January 31, 2026, the aggregate market value of securities on loan was $10,473,335; the total market value of collateral held by the Fund was $10,882,772. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,458,823. The Fund received cash collateral with a value of $9,423,949. |
| (d) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (e) | Fixed to floating rate—Rate shown was the rate in effect as of January 31, 2026. |
| (f) | Step coupon—Rate shown was the rate in effect as of January 31, 2026. |
| (g) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (h) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
| (i) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of January 31, 2026. |
| (j) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of January 31, 2026. |
| (k) | Current yield as of January 31, 2026. |
| (l) | Represents a security purchased with cash collateral received for securities on loan. |
| Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
| NYLI U.S. Government Liquidity Fund | $ 12,099 | $ 68,647 | $ (60,644) | $ — | $ — | $ 20,102 | $ 145 | $ — | 20,102 |
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
| AUD | 23,293,000 | USD | 15,265,177 | JPMorgan Chase Bank N.A. | 2/3/26 | $ 954,903 |
| AUD | 23,293,000 | USD | 16,202,977 | JPMorgan Chase Bank N.A. | 5/7/26 | 10,921 |
| EUR | 6,436,664 | USD | 7,528,038 | JPMorgan Chase Bank N.A. | 2/3/26 | 101,662 |
| USD | 7,681,933 | EUR | 6,436,664 | JPMorgan Chase Bank N.A. | 2/3/26 | 52,234 |
| USD | 13,494,999 | GBP | 9,813,000 | JPMorgan Chase Bank N.A. | 5/7/26 | 69,171 |
| USD | 12,428,409 | JPY | 1,885,255,000 | JPMorgan Chase Bank N.A. | 2/3/26 | 246,611 |
| USD | 12,416,472 | JPY | 1,885,255,000 | JPMorgan Chase Bank N.A. | 5/7/26 | 135,325 |
| Total Unrealized Appreciation | 1,570,827 | |||||
| EUR | 6,436,664 | USD | 7,716,363 | JPMorgan Chase Bank N.A. | 5/7/26 | (53,373) |
| EUR | 5,485,000 | USD | 6,535,597 | JPMorgan Chase Bank N.A. | 5/7/26 | (5,584) |
| GBP | 9,813,000 | USD | 13,497,446 | JPMorgan Chase Bank N.A. | 2/3/26 | (69,827) |
| JPY | 1,885,255,000 | USD | 12,318,109 | JPMorgan Chase Bank N.A. | 2/3/26 | (136,312) |
| USD | 16,206,228 | AUD | 23,293,000 | JPMorgan Chase Bank N.A. | 2/3/26 | (13,852) |
| USD | 13,081,175 | GBP | 9,813,000 | JPMorgan Chase Bank N.A. | 2/3/26 | (346,444) |
| Total Unrealized Depreciation | (625,392) | |||||
| Net Unrealized Appreciation | $ 945,435 | |||||
| 1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
| Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
| Long Contracts | |||||
| Euro STOXX 50 Index | 286 | March 2026 | $ 19,927,179 | $ 20,174,491 | $ 247,312 |
| MSCI EAFE Index | 90 | March 2026 | 13,051,098 | 13,665,600 | 614,502 |
| S&P 500 E-Mini Index | 216 | March 2026 | 74,411,384 | 75,230,100 | 818,716 |
| S&P Midcap 400 E-Mini Index | 36 | March 2026 | 12,246,711 | 12,411,000 | 164,289 |
| U.S. Treasury 10 Year Notes | 97 | March 2026 | 10,927,444 | 10,847,328 | (80,116) |
| U.S. Treasury 10 Year Ultra Bonds | 386 | March 2026 | 44,044,943 | 44,064,313 | 19,370 |
| U.S. Treasury Long Bonds | 214 | March 2026 | 25,017,074 | 24,636,750 | (380,324) |
| U.S. Treasury Ultra Bonds | 154 | March 2026 | 18,585,365 | 18,085,375 | (499,990) |
| Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
| Yen Denominated Nikkei 225 Index | 177 | March 2026 | $ 29,040,820 | $ 30,574,131 | $ 1,533,311 |
| Total Long Contracts | 2,437,070 | ||||
| Short Contracts | |||||
| Euro-BTP | (283) | March 2026 | (40,464,594) | (40,626,840) | (162,246) |
| FTSE 100 Index | (151) | March 2026 | (20,227,510) | (21,053,632) | (826,122) |
| U.S. Treasury 2 Year Notes | (63) | March 2026 | (13,153,173) | (13,135,008) | 18,165 |
| U.S. Treasury 5 Year Notes | (86) | March 2026 | (9,399,513) | (9,367,953) | 31,560 |
| Total Short Contracts | (938,643) | ||||
| Net Unrealized Appreciation | $ 1,498,427 |
| 1. | As of January 31, 2026, cash in the amount of $15,174,592 was on deposit with a broker or futures commission merchant for futures transactions. |
| 2. | Represents the difference between the value of the contracts at the time they were opened and the value as of January 31, 2026. |
| Abbreviation(s): |
| ADR—American Depositary Receipt |
| AUD—Australia Dollar |
| BTP—Buoni del Tesoro Poliennali (Eurex Exchange index) |
| CLO—Collateralized Loan Obligation |
| EAFE—Europe, Australasia and Far East |
| EUR—Euro |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| FTSE—Financial Times Stock Exchange |
| GBP—British Pound Sterling |
| GDR—Global Depositary Receipt |
| GMSR—Ginnie Mae Mortgage Servicing Rights |
| GNMA—Government National Mortgage Association |
| JPY—Japanese Yen |
| MSCI—Morgan Stanley Capital International |
| MSCR—Multifamily Structured Credit Risk |
| REIT—Real Estate Investment Trust |
| REMIC—Real Estate Mortgage Investment Conduit |
| SARL—Société À Responsabilité Limitée |
| SOFR—Secured Overnight Financing Rate |
| STACR—Structured Agency Credit Risk |
| UMBS—Uniform Mortgage Backed Securities |
| USD—United States Dollar |
| UYU—Uruguay Peso |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Long-Term Bonds | |||||||
| Asset-Backed Securities | $ — | $ 46,686,679 | $ — | $ 46,686,679 | |||
| Corporate Bonds | — | 116,475,463 | — | 116,475,463 | |||
| Foreign Government Bonds | — | 9,683,174 | — | 9,683,174 | |||
| Loan Assignments | — | 4,081,215 | — | 4,081,215 | |||
| Mortgage-Backed Securities | — | 120,796,867 | — | 120,796,867 | |||
| U.S. Government & Federal Agencies | — | 80,295,528 | — | 80,295,528 | |||
| Total Long-Term Bonds | — | 378,018,926 | — | 378,018,926 | |||
| Common Stocks | 684,307,516 | — | — | 684,307,516 | |||
| Short-Term Investments | |||||||
| Affiliated Investment Company | 20,102,324 | — | — | 20,102,324 | |||
| Unaffiliated Investment Company | 9,423,949 | — | — | 9,423,949 | |||
| Total Short-Term Investments | 29,526,273 | — | — | 29,526,273 | |||
| Total Investments in Securities | 713,833,789 | 378,018,926 | — | 1,091,852,715 | |||
| Other Financial Instruments (b) | |||||||
| Foreign Currency Forward Contracts | — | 1,570,827 | — | 1,570,827 | |||
| Futures Contracts | 3,447,225 | — | — | 3,447,225 | |||
| Total Other Financial Instruments | 3,447,225 | 1,570,827 | — | 5,018,052 | |||
| Total Investments in Securities and Other Financial Instruments | $ 717,281,014 | $ 379,589,753 | $ — | $ 1,096,870,767 | |||
| Liability Valuation Inputs | |||||||
| Other Financial Instruments (b) | |||||||
| Foreign Currency Forward Contracts | $ — | $ (625,392) | $ — | $ (625,392) | |||
| Futures Contracts | (1,948,798) | — | — | (1,948,798) | |||
| Total Other Financial Instruments | $ (1,948,798) | $ (625,392) | $ — | $ (2,574,190) |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| (b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
| Shares | Value | |
| Common Stocks 98.5% | ||
| Air Freight & Logistics 4.6% | ||
| Expeditors International of Washington, Inc. | 126,048 | $ 20,235,746 |
| Banks 5.0% | ||
| M&T Bank Corp. | 99,346 | 22,012,093 |
| Beverages 2.0% | ||
| Brown-Forman Corp., Class B | 325,190 | 8,900,450 |
| Capital Markets 3.7% | ||
| Brookfield Asset Management Ltd., Class A | 80,566 | 4,004,936 |
| Brookfield Corp. | 273,654 | 12,464,939 |
| 16,469,875 | ||
| Chemicals 8.2% | ||
| Linde plc | 46,799 | 21,385,739 |
| Sherwin-Williams Co. (The) | 41,548 | 14,734,583 |
| 36,120,322 | ||
| Commercial Services & Supplies 10.5% | ||
| Cintas Corp. | 86,272 | 16,511,598 |
| Copart, Inc. (a) | 420,744 | 17,073,792 |
| Waste Connections, Inc. | 76,139 | 12,760,896 |
| 46,346,286 | ||
| Consumer Finance 4.0% | ||
| Credit Acceptance Corp. (a)(b) | 36,025 | 17,949,096 |
| Consumer Staples Distribution & Retail 2.8% | ||
| Costco Wholesale Corp. | 13,167 | 12,380,272 |
| Containers & Packaging 2.0% | ||
| Ball Corp. | 153,556 | 8,732,730 |
| Electronic Equipment, Instruments & Components 6.5% | ||
| Amphenol Corp., Class A | 139,377 | 20,081,438 |
| CDW Corp. | 67,132 | 8,484,814 |
| 28,566,252 | ||
| Financial Services 4.0% | ||
| Berkshire Hathaway, Inc., Class B (a) | 36,661 | 17,616,710 |
| Ground Transportation 3.5% | ||
| Old Dominion Freight Line, Inc. | 89,813 | 15,555,612 |
| Household Durables 5.7% | ||
| NVR, Inc. (a) | 3,302 | 25,213,180 |
| Shares | Value | |
| Common Stocks | ||
| Insurance 10.2% | ||
| Markel Group, Inc. (a) | 11,537 | $ 23,542,864 |
| Progressive Corp. (The) | 102,829 | 21,388,432 |
| 44,931,296 | ||
| Life Sciences Tools & Services 2.4% | ||
| Danaher Corp. | 49,428 | 10,819,295 |
| Machinery 9.9% | ||
| Deere & Co. | 21,160 | 11,172,480 |
| IDEX Corp. | 43,363 | 8,609,724 |
| PACCAR, Inc. | 194,909 | 23,956,265 |
| 43,738,469 | ||
| Software 4.9% | ||
| Constellation Software, Inc. | 11,392 | 21,024,228 |
| Lumine Group, Inc. (a) | 44,836 | 738,568 |
| 21,762,796 | ||
| Specialized REITs 1.6% | ||
| Public Storage | 25,872 | 7,145,588 |
| Specialty Retail 4.1% | ||
| O'Reilly Automotive, Inc. (a) | 185,599 | 18,264,797 |
| Trading Companies & Distributors 2.9% | ||
| Watsco, Inc. | 33,006 | 12,755,169 |
| Total Common Stocks (Cost $280,187,670) | 435,516,034 | |
| Number of Warrants | ||
| Warrants 0.0% ‡ | ||
| Software 0.0% ‡ | ||
| Constellation Software, Inc. | ||
| Expires 3/31/40 (a)(c) | 16,496 | — |
| Total Warrants (Cost $0) | — | |
| Shares | ||
| Short-Term Investments 5.0% | ||
| Affiliated Investment Company 1.6% | ||
| NYLI U.S. Government Liquidity Fund, 3.523% (d) | 7,310,691 | 7,310,691 |
| Shares | Value | ||
| Short-Term Investments | |||
| Unaffiliated Investment Companies 3.4% | |||
| Dreyfus Treasury Obligations Cash Management Fund, 3.70% (d)(e) | 7,000,000 | $ 7,000,000 | |
| Invesco Government & Agency Portfolio, 3.682% (d)(e) | 2,954,738 | 2,954,738 | |
| Morgan Stanley Institutional Liquidity Fund Government Portfolio, 3.70% (d)(e) | 5,000,000 | 5,000,000 | |
| 14,954,738 | |||
| Total Short-Term Investments (Cost $22,265,429) | 22,265,429 | ||
| Total Investments (Cost $302,453,099) | 103.5% | 457,781,463 | |
| Other Assets, Less Liabilities | (3.5) | (15,635,150) | |
| Net Assets | 100.0% | $ 442,146,313 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security was held on loan. As of January 31, 2026, the aggregate market value of securities on loan was $14,654,019. The Fund received cash collateral with a value of $14,954,738. |
| (c) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (d) | Current yield as of January 31, 2026. |
| (e) | Represents a security purchased with cash collateral received for securities on loan. |
| Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
| NYLI U.S. Government Liquidity Fund | $ 4,642 | $ 24,632 | $ (21,963) | $ — | $ — | $ 7,311 | $ 41 | $ — | 7,311 |
| Abbreviation(s): |
| REIT—Real Estate Investment Trust |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Common Stocks | $ 435,516,034 | $ — | $ — | $ 435,516,034 | |||
| Warrants | — | — | — | — | |||
| Short-Term Investments | |||||||
| Affiliated Investment Company | 7,310,691 | — | — | 7,310,691 | |||
| Unaffiliated Investment Companies | 14,954,738 | — | — | 14,954,738 | |||
| Total Short-Term Investments | 22,265,429 | — | — | 22,265,429 | |||
| Total Investments in Securities | $ 457,781,463 | $ — | $ — | $ 457,781,463 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| Principal Amount | Value | |
| Convertible Securities 95.4% | ||
| Convertible Bonds 85.8% | ||
| Aerospace & Defense 1.0% | ||
| AeroVironment, Inc. | ||
| (zero coupon), due 7/15/30 | $ 4,835,000 | $ 5,698,047 |
| BWX Technologies, Inc. | ||
| (zero coupon), due 11/1/30 (a) | 10,120,000 | 10,459,020 |
| 16,157,067 | ||
| Automobile Components 1.1% | ||
| Patrick Industries, Inc. | ||
| 1.75%, due 12/1/28 | 9,454,000 | 18,383,303 |
| Automobiles 1.4% | ||
| Ford Motor Co. | ||
| (zero coupon), due 3/15/26 | 14,455,000 | 15,329,527 |
| Rivian Automotive, Inc. | ||
| 4.625%, due 3/15/29 | 7,336,000 | 7,757,820 |
| 23,087,347 | ||
| Beverages 0.6% | ||
| MGP Ingredients, Inc. | ||
| 1.875%, due 11/15/41 | 9,940,000 | 9,641,930 |
| Biotechnology 7.6% | ||
| Alnylam Pharmaceuticals, Inc. | ||
| 1.00%, due 9/15/27 | 5,460,000 | 7,130,963 |
| Arrowhead Pharmaceuticals, Inc. | ||
| (zero coupon), due 1/15/32 | 1,542,000 | 1,734,495 |
| BioMarin Pharmaceutical, Inc. | ||
| 1.25%, due 5/15/27 | 19,573,000 | 19,003,462 |
| Bridgebio Pharma, Inc. | ||
| 2.25%, due 2/1/29 | 14,242,000 | 16,225,199 |
| Halozyme Therapeutics, Inc. (a) | ||
| (zero coupon), due 2/15/31 | 8,856,000 | 9,121,680 |
| 0.875%, due 11/15/32 | 8,857,000 | 9,304,279 |
| Ionis Pharmaceuticals, Inc. | ||
| (zero coupon), due 12/1/30 (a) | 10,631,000 | 11,774,779 |
| 1.75%, due 6/15/28 | 5,324,000 | 8,750,082 |
| Mirum Pharmaceuticals, Inc. | ||
| 4.00%, due 5/1/29 | 12,752,000 | 42,256,940 |
| 125,301,879 | ||
| Broadline Retail 1.0% | ||
| Etsy, Inc. | ||
| 0.125%, due 10/1/26 | 15,617,000 | 15,577,177 |
| Principal Amount | Value | |
| Convertible Bonds | ||
| Commercial Services & Supplies 1.9% | ||
| Tetra Tech, Inc. | ||
| 2.25%, due 8/15/28 | $ 26,609,000 | $ 30,939,615 |
| Communications Equipment 2.6% | ||
| Lumentum Holdings, Inc. | ||
| 0.50%, due 6/15/28 | 13,970,000 | 42,184,272 |
| Construction & Engineering 0.8% | ||
| Fluor Corp. | ||
| 1.125%, due 8/15/29 | 10,495,000 | 12,972,870 |
| Consumer Finance 0.6% | ||
| Upstart Holdings, Inc. | ||
| 1.00%, due 11/15/30 | 11,789,000 | 10,094,331 |
| Consumer Staples Distribution & Retail 0.9% | ||
| Chefs' Warehouse, Inc. (The) | ||
| 2.375%, due 12/15/28 | 9,332,000 | 14,377,812 |
| Electric Utilities 1.7% | ||
| PG&E Corp. | ||
| 4.25%, due 12/1/27 | 24,558,000 | 25,000,044 |
| Southern Co. (The) | ||
| 3.25%, due 6/15/28 (a) | 3,000,000 | 3,009,000 |
| 28,009,044 | ||
| Electrical Equipment 0.5% | ||
| Bloom Energy Corp. | ||
| (zero coupon), due 11/15/30 (a) | 7,394,000 | 8,384,796 |
| Electronic Equipment, Instruments & Components 4.8% | ||
| Advanced Energy Industries, Inc. | ||
| 2.50%, due 9/15/28 | 18,209,000 | 35,434,714 |
| Avnet, Inc. | ||
| 1.75%, due 9/1/30 (a) | 9,700,000 | 10,534,200 |
| Mirion Technologies, Inc. | ||
| 0.25%, due 6/1/30 (a) | 9,743,000 | 12,605,006 |
| OSI Systems, Inc. | ||
| 0.50%, due 2/1/31 (a) | 20,280,000 | 20,170,488 |
| 78,744,408 | ||
| Energy Equipment & Services 0.2% | ||
| Oil States International, Inc. | ||
| 4.75%, due 4/1/26 | 2,706,000 | 2,765,383 |
| Principal Amount | Value | |
| Convertible Bonds | ||
| Entertainment 2.8% | ||
| IMAX Corp. | ||
| 0.75%, due 11/15/30 (a)(b) | $ 14,719,000 | $ 15,767,729 |
| Liberty Media Corp.-Liberty Formula One | ||
| 2.25%, due 8/15/27 | 13,561,000 | 15,886,711 |
| Live Nation Entertainment, Inc. | ||
| 2.875%, due 1/15/30 | 13,975,000 | 14,827,475 |
| 46,481,915 | ||
| Financial Services 2.8% | ||
| Affirm Holdings, Inc. | ||
| 0.75%, due 12/15/29 | 11,397,000 | 11,802,164 |
| Euronet Worldwide, Inc. | ||
| 0.625%, due 10/1/30 (a) | 7,250,000 | 6,511,406 |
| Global Payments, Inc. | ||
| 1.50%, due 3/1/31 | 11,829,000 | 10,492,323 |
| Shift4 Payments, Inc. | ||
| 0.50%, due 8/1/27 | 18,090,000 | 17,420,670 |
| 46,226,563 | ||
| Food Products 2.2% | ||
| Freshpet, Inc. | ||
| 3.00%, due 4/1/28 | 9,309,000 | 11,538,505 |
| Post Holdings, Inc. | ||
| 2.50%, due 8/15/27 | 22,194,000 | 24,424,497 |
| 35,963,002 | ||
| Ground Transportation 1.4% | ||
| Uber Technologies, Inc. | ||
| Series 2028 | ||
| 0.875%, due 12/1/28 | 17,288,000 | 22,189,679 |
| Health Care Equipment & Supplies 6.9% | ||
| DexCom, Inc. | ||
| 0.375%, due 5/15/28 | 15,040,000 | 14,051,120 |
| Haemonetics Corp. | ||
| (zero coupon), due 3/1/26 | 1,912,000 | 1,912,000 |
| Integer Holdings Corp. | ||
| 1.875%, due 3/15/30 (a) | 25,460,000 | 24,365,220 |
| iRhythm Holdings, Inc. | ||
| 1.50%, due 9/1/29 | 14,384,000 | 18,368,368 |
| Lantheus Holdings, Inc. | ||
| 2.625%, due 12/15/27 | 23,906,000 | 27,414,205 |
| Merit Medical Systems, Inc. | ||
| 3.00%, due 2/1/29 (a) | 23,436,000 | 27,138,888 |
| 113,249,801 | ||
| Principal Amount | Value | |
| Convertible Bonds | ||
| Health Care REITs 2.6% | ||
| Welltower OP LLC | ||
| 3.125%, due 7/15/29 (a) | $ 28,150,000 | $ 42,956,900 |
| Health Care Technology 0.4% | ||
| Teladoc Health, Inc. | ||
| 1.25%, due 6/1/27 | 7,157,000 | 6,899,349 |
| Hotels, Restaurants & Leisure 2.7% | ||
| Cheesecake Factory, Inc. (The) | ||
| 0.375%, due 6/15/26 | 9,208,000 | 9,156,323 |
| DoorDash, Inc. | ||
| (zero coupon), due 5/15/30 (a) | 12,055,000 | 12,091,165 |
| Expedia Group, Inc. | ||
| (zero coupon), due 2/15/26 | 2,822,000 | 3,134,907 |
| NCL Corp. Ltd. | ||
| 1.125%, due 2/15/27 | 20,225,000 | 20,285,675 |
| 44,668,070 | ||
| Household Durables 0.8% | ||
| Meritage Homes Corp. | ||
| 1.75%, due 5/15/28 (b) | 13,302,000 | 13,564,784 |
| Household Products 0.4% | ||
| Spectrum Brands, Inc. | ||
| 3.375%, due 6/1/29 | 7,412,000 | 7,180,375 |
| Interactive Media & Services 0.8% | ||
| Match Group Financeco 2, Inc. | ||
| 0.875%, due 6/15/26 (a) | 12,450,000 | 12,294,997 |
| IT Services 2.9% | ||
| Akamai Technologies, Inc. | ||
| 0.375%, due 9/1/27 | 16,800,000 | 17,865,209 |
| Cloudflare, Inc. | ||
| (zero coupon), due 6/15/30 (a) | 12,025,000 | 12,693,588 |
| Snowflake, Inc. | ||
| (zero coupon), due 10/1/27 | 12,188,000 | 16,545,210 |
| 47,104,007 | ||
| Life Sciences Tools & Services 0.2% | ||
| Tempus AI, Inc. | ||
| 0.75%, due 7/15/30 (a)(b) | 3,415,000 | 3,708,714 |
| Machinery 0.6% | ||
| Greenbrier Cos., Inc. (The) | ||
| 2.875%, due 4/15/28 | 8,991,000 | 10,178,262 |
| Principal Amount | Value | |
| Convertible Bonds | ||
| Media 1.4% | ||
| Liberty Broadband Corp. | ||
| 3.125%, due 3/31/53 (a) | $ 9,263,000 | $ 9,230,580 |
| Sirius XM Holdings, Inc. | ||
| 3.75%, due 3/15/28 | 13,850,000 | 14,085,450 |
| 23,316,030 | ||
| Metals & Mining 0.6% | ||
| MP Materials Corp. | ||
| 3.00%, due 3/1/30 (a) | 3,271,000 | 9,328,892 |
| Oil, Gas & Consumable Fuels 0.8% | ||
| Northern Oil & Gas, Inc. | ||
| 3.625%, due 4/15/29 | 12,935,000 | 13,134,198 |
| Pharmaceuticals 2.3% | ||
| Amphastar Pharmaceuticals, Inc. | ||
| 2.00%, due 3/15/29 | 8,159,000 | 7,666,820 |
| Jazz Investments I Ltd. | ||
| 2.00%, due 6/15/26 | 12,247,000 | 13,583,118 |
| Zoetis, Inc. | ||
| 0.25%, due 6/15/29 (a) | 15,259,000 | 15,678,622 |
| 36,928,560 | ||
| Professional Services 2.2% | ||
| Parsons Corp. | ||
| 2.625%, due 3/1/29 | 12,747,000 | 13,674,763 |
| Planet Labs PBC | ||
| 0.50%, due 10/15/30 (a) | 9,797,000 | 22,373,899 |
| 36,048,662 | ||
| Real Estate Management & Development 0.7% | ||
| Compass, Inc. | ||
| 0.25%, due 4/15/31 (a) | 10,279,000 | 11,101,351 |
| Residential REITs 0.5% | ||
| Tanger Properties LP | ||
| 2.375%, due 1/15/31 (a) | 8,023,000 | 7,951,595 |
| Semiconductors & Semiconductor Equipment 5.5% | ||
| Impinj, Inc. | ||
| (zero coupon), due 9/15/29 (a) | 10,175,000 | 9,849,400 |
| MKS, Inc. | ||
| 1.25%, due 6/1/30 | 15,811,000 | 26,632,726 |
| Nova Ltd. | ||
| (zero coupon), due 9/15/30 (a) | 9,006,000 | 14,463,906 |
| ON Semiconductor Corp. | ||
| (zero coupon), due 5/1/27 | 19,255,000 | 24,349,660 |
| Principal Amount | Value | |
| Convertible Bonds | ||
| Semiconductors & Semiconductor Equipment | ||
| Semtech Corp. | ||
| (zero coupon), due 10/15/30 (a) | $ 6,119,000 | $ 6,898,172 |
| Synaptics, Inc. | ||
| 0.75%, due 12/1/31 | 7,650,000 | 8,675,198 |
| 90,869,062 | ||
| Software 11.8% | ||
| BILL Holdings, Inc. | ||
| (zero coupon), due 4/1/30 | 13,980,000 | 12,538,313 |
| Check Point Software Technologies Ltd. | ||
| (zero coupon), due 12/15/30 (a) | 11,393,000 | 11,290,297 |
| CyberArk Software Ltd. | ||
| (zero coupon), due 6/15/30 (a) | 9,288,000 | 9,798,840 |
| Datadog, Inc. | ||
| (zero coupon), due 12/1/29 | 16,717,000 | 16,503,858 |
| Dropbox, Inc. | ||
| (zero coupon), due 3/1/28 | 11,036,000 | 10,947,712 |
| Five9, Inc. | ||
| 1.00%, due 3/15/29 | 5,835,000 | 5,286,510 |
| Guidewire Software, Inc. | ||
| 1.25%, due 11/1/29 | 11,315,000 | 10,969,893 |
| Life360, Inc. | ||
| (zero coupon), due 6/1/30 (a) | 8,200,000 | 8,637,819 |
| Nebius Group NV | ||
| 1.00%, due 9/15/30 (a) | 7,292,000 | 7,288,354 |
| Nutanix, Inc. | ||
| 0.50%, due 12/15/29 | 15,180,000 | 13,836,570 |
| Progress Software Corp. | ||
| 3.50%, due 3/1/30 | 12,780,000 | 12,910,995 |
| Q2 Holdings, Inc. | ||
| 0.75%, due 6/1/26 (b) | 12,470,000 | 12,376,475 |
| Rapid7, Inc. | ||
| 1.25%, due 3/15/29 | 6,025,000 | 5,490,281 |
| Rubrik, Inc. | ||
| (zero coupon), due 6/15/30 (a) | 7,215,000 | 6,493,500 |
| Tyler Technologies, Inc. | ||
| 0.25%, due 3/15/26 | 14,176,000 | 14,126,384 |
| Unity Software, Inc. | ||
| (zero coupon), due 3/15/30 (a)(b) | 10,909,000 | 12,286,671 |
| Vertex, Inc. | ||
| 0.75%, due 5/1/29 | 8,473,000 | 7,956,359 |
| Workiva, Inc. | ||
| 1.25%, due 8/15/28 | 7,850,000 | 7,612,538 |
| Zscaler, Inc. | ||
| (zero coupon), due 7/15/28 (a) | 8,460,000 | 7,886,017 |
| 194,237,386 | ||
| Principal Amount | Value | |
| Convertible Bonds | ||
| Specialty Retail 0.9% | ||
| Burlington Stores, Inc. | ||
| 1.25%, due 12/15/27 | $ 9,505,000 | $ 14,433,343 |
| Technology Hardware, Storage & Peripherals 4.9% | ||
| Seagate HDD Cayman | ||
| 3.50%, due 6/1/28 | 7,135,000 | 35,421,707 |
| Western Digital Corp. | ||
| 3.00%, due 11/15/28 | 6,875,000 | 45,687,161 |
| 81,108,868 | ||
| Total Convertible Bonds (Cost $1,181,397,235) | 1,407,745,599 | |
| Shares | ||
| Convertible Preferred Stocks 9.6% | ||
| Aerospace & Defense 1.6% | ||
| Boeing Co. (The) | ||
| 6.00% | 346,200 | 25,868,064 |
| Banks 1.8% | ||
| Bank of America Corp. | ||
| Series L | ||
| 7.25% (c) | 12,072 | 15,041,712 |
| Wells Fargo & Co. | ||
| Series L | ||
| 7.50% (b)(c) | 11,552 | 14,254,706 |
| 29,296,418 | ||
| Capital Markets 0.6% | ||
| Ares Management Corp. | ||
| Series B | ||
| 6.75% | 195,700 | 9,360,331 |
| Electric Utilities 0.5% | ||
| NextEra Energy, Inc. | ||
| 7.299% | 162,500 | 9,013,875 |
| Financial Services 1.2% | ||
| Apollo Global Management, Inc. | ||
| 6.75% | 289,050 | 20,051,398 |
| Semiconductors & Semiconductor Equipment 1.0% | ||
| Microchip Technology, Inc. | ||
| 7.50% | 235,175 | 15,719,097 |
| Shares | Value | ||
| Convertible Preferred Stocks | |||
| Technology Hardware, Storage & Peripherals 0.9% | |||
| Hewlett Packard Enterprise Co. | |||
| 7.625% | 240,100 | $ 14,542,857 | |
| Trading Companies & Distributors 2.0% | |||
| QXO, Inc. | |||
| 5.50% | 519,808 | 32,929,837 | |
| Total Convertible Preferred Stocks (Cost $132,686,457) | 156,781,877 | ||
| Total Convertible Securities (Cost $1,314,083,692) | 1,564,527,476 | ||
| Short-Term Investments 4.8% | |||
| Affiliated Investment Company 4.3% | |||
| NYLI U.S. Government Liquidity Fund, 3.523% (d)(e) | 70,346,082 | 70,346,082 | |
| Unaffiliated Investment Company 0.5% | |||
| Invesco Government & Agency Portfolio, 3.682% (e)(f) | 8,283,864 | 8,283,864 | |
| Total Short-Term Investments (Cost $78,629,946) | 78,629,946 | ||
| Total Investments (Cost $1,392,713,638) | 100.2% | 1,643,157,422 | |
| Other Assets, Less Liabilities | (0.2) | (3,423,105) | |
| Net Assets | 100.0% | $ 1,639,734,317 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | All or a portion of this security was held on loan. As of January 31, 2026, the aggregate market value of securities on loan was $7,411,868; the total market value of collateral held by the Fund was $8,410,607. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $126,743. The Fund received cash collateral with a value of $8,283,864. |
| (c) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (d) | As of January 31, 2026, the Fund's ownership exceeds 5% of the outstanding shares of the Underlying Fund's share class. |
| (e) | Current yield as of January 31, 2026. |
| (f) | Represents a security purchased with cash collateral received for securities on loan. |
| Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
| NYLI U.S. Government Liquidity Fund | $ 85,131 | $ 118,637 | $ (133,422) | $ — | $ — | $ 70,346 | $ 699 | $ — | 70,346 |
| Abbreviation(s): |
| REIT—Real Estate Investment Trust |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Convertible Securities | |||||||
| Convertible Bonds | $ — | $ 1,407,745,599 | $ — | $ 1,407,745,599 | |||
| Convertible Preferred Stocks | 156,781,877 | — | — | 156,781,877 | |||
| Total Convertible Securities | 156,781,877 | 1,407,745,599 | — | 1,564,527,476 | |||
| Short-Term Investments | |||||||
| Affiliated Investment Company | 70,346,082 | — | — | 70,346,082 | |||
| Unaffiliated Investment Company | 8,283,864 | — | — | 8,283,864 | |||
| Total Short-Term Investments | 78,629,946 | — | — | 78,629,946 | |||
| Total Investments in Securities | $ 235,411,823 | $ 1,407,745,599 | $ — | $ 1,643,157,422 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| Principal Amount | Value | |
| Long-Term Bonds 93.1% | ||
| Convertible Bonds 0.4% | ||
| Energy-Alternate Sources 0.1% | ||
| XPLR Infrastructure LP | ||
| 2.50%, due 6/15/26 (a) | $ 16,000,000 | $ 15,740,800 |
| Media 0.3% | ||
| Cable One, Inc. | ||
| (zero coupon), due 3/15/26 | 6,000,000 | 5,910,000 |
| 1.125%, due 3/15/28 | 29,800,000 | 22,722,500 |
| 28,632,500 | ||
| Total Convertible Bonds (Cost $51,488,162) | 44,373,300 | |
| Corporate Bonds 86.2% | ||
| Advertising 1.2% | ||
| Clear Channel Outdoor Holdings, Inc. (a) | ||
| 7.125%, due 2/15/31 | 7,690,000 | 8,019,155 |
| 7.75%, due 4/15/28 | 17,605,000 | 17,610,510 |
| Lamar Media Corp. | ||
| 3.625%, due 1/15/31 | 32,590,000 | 30,775,995 |
| 3.75%, due 2/15/28 | 11,750,000 | 11,535,248 |
| 4.00%, due 2/15/30 | 33,500,000 | 32,387,023 |
| 4.875%, due 1/15/29 | 11,500,000 | 11,501,150 |
| Outfront Media Capital LLC (a) | ||
| 4.625%, due 3/15/30 | 5,650,000 | 5,516,993 |
| 5.00%, due 8/15/27 | 10,000,000 | 9,997,935 |
| 7.375%, due 2/15/31 | 5,000,000 | 5,265,830 |
| 132,609,839 | ||
| Aerospace & Defense 2.9% | ||
| AAR Escrow Issuer LLC | ||
| 6.75%, due 3/15/29 (a) | 11,500,000 | 11,902,404 |
| Efesto Bidco SpA Efesto US LLC | ||
| Series XR | ||
| 7.50%, due 2/15/32 (a) | 7,945,000 | 8,099,292 |
| TransDigm, Inc. | ||
| 4.625%, due 1/15/29 | 24,500,000 | 24,351,907 |
| 4.875%, due 5/1/29 | 13,245,000 | 13,220,757 |
| 6.00%, due 1/15/33 (a) | 28,500,000 | 29,038,451 |
| 6.375%, due 3/1/29 (a) | 78,065,000 | 80,276,191 |
| 6.375%, due 5/31/33 (a) | 50,940,000 | 51,857,531 |
| 6.625%, due 3/1/32 (a) | 33,150,000 | 34,276,205 |
| 6.75%, due 8/15/28 (a) | 31,380,000 | 31,908,094 |
| 6.75%, due 1/31/34 (a) | 19,950,000 | 20,648,569 |
| 6.875%, due 12/15/30 (a) | 12,250,000 | 12,759,416 |
| 7.125%, due 12/1/31 (a) | 11,560,000 | 12,123,076 |
| 330,461,893 | ||
| Principal Amount | Value | |
| Corporate Bonds | ||
| Agriculture 0.0% ‡ | ||
| Darling Ingredients, Inc. | ||
| 6.00%, due 6/15/30 (a) | $ 5,750,000 | $ 5,826,567 |
| Airlines 0.2% | ||
| American Airlines, Inc. | ||
| 5.75%, due 4/20/29 (a) | 10,000,000 | 10,104,040 |
| United Airlines Holdings, Inc. | ||
| 5.375%, due 3/1/31 | 9,000,000 | 9,089,379 |
| 19,193,419 | ||
| Apparel 0.1% | ||
| William Carter Co. (The) | ||
| 7.375%, due 2/15/31 (a) | 7,255,000 | 7,500,296 |
| Auto Manufacturers 0.5% | ||
| General Motors Financial Co., Inc. | ||
| 5.25%, due 3/1/26 | 5,000,000 | 5,005,161 |
| JB Poindexter & Co., Inc. | ||
| 8.75%, due 12/15/31 (a) | 54,340,000 | 56,448,936 |
| 61,454,097 | ||
| Auto Parts & Equipment 2.2% | ||
| Adient Global Holdings Ltd. (a) | ||
| 7.00%, due 4/15/28 | 3,000,000 | 3,068,208 |
| 8.25%, due 4/15/31 | 6,250,000 | 6,548,619 |
| American Axle & Manufacturing, Inc. (a) | ||
| 6.375%, due 10/15/32 | 9,000,000 | 9,182,655 |
| 7.75%, due 10/15/33 | 10,240,000 | 10,534,168 |
| Clarios Global LP | ||
| 6.75%, due 2/15/30 (a) | 5,000,000 | 5,230,655 |
| Forvia SE | ||
| 6.75%, due 9/15/33 (a) | 2,500,000 | 2,563,352 |
| Garrett Motion Holdings, Inc. | ||
| 7.75%, due 5/31/32 (a) | 16,800,000 | 17,786,261 |
| IHO Verwaltungs GmbH (a)(b) | ||
| 6.375% (6.375% Cash or 7.13% PIK), due 5/15/29 | 40,980,000 | 41,469,342 |
| 7.75% (7.75% Cash or 8.50% PIK), due 11/15/30 | 39,000,000 | 41,001,358 |
| 8.00% (8.00% Cash or 8.75% PIK), due 11/15/32 | 18,655,000 | 19,881,007 |
| Phinia, Inc. (a) | ||
| 6.625%, due 10/15/32 | 8,410,000 | 8,755,214 |
| 6.75%, due 4/15/29 | 16,150,000 | 16,694,709 |
| Real Hero Merger Sub 2, Inc. | ||
| 6.25%, due 2/1/29 (a) | 40,336,000 | 19,898,556 |
| Tenneco, Inc. | ||
| 8.00%, due 11/17/28 (a) | 23,685,000 | 23,825,949 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Auto Parts & Equipment | ||
| ZF North America Capital, Inc. | ||
| 7.50%, due 3/24/31 (a) | $ 23,700,000 | $ 24,292,239 |
| 250,732,292 | ||
| Banks 0.0% ‡ | ||
| Walker & Dunlop, Inc. | ||
| 6.625%, due 4/1/33 (a) | 2,000,000 | 2,050,166 |
| Biotechnology 0.3% | ||
| BioMarin Pharmaceutical, Inc. | ||
| 5.50%, due 2/15/34 (a)(c) | 5,000,000 | 5,013,850 |
| GENMAB A/S (a) | ||
| 6.25%, due 12/15/32 | 18,350,000 | 18,809,445 |
| 7.25%, due 12/15/33 | 10,600,000 | 11,218,607 |
| 35,041,902 | ||
| Building Materials 1.5% | ||
| EMRLD Borrower LP | ||
| 6.625%, due 12/15/30 (a) | 33,075,000 | 34,235,172 |
| James Hardie International Finance DAC | ||
| 5.00%, due 1/15/28 (a) | 28,095,000 | 28,063,478 |
| Knife River Corp. | ||
| 7.75%, due 5/1/31 (a) | 18,540,000 | 19,304,775 |
| Masterbrand, Inc. | ||
| 7.00%, due 7/15/32 (a) | 7,500,000 | 7,777,695 |
| Quikrete Holdings, Inc. (a) | ||
| 6.375%, due 3/1/32 | 54,355,000 | 56,371,116 |
| 6.75%, due 3/1/33 | 18,500,000 | 19,219,058 |
| 164,971,294 | ||
| Chemicals 3.0% | ||
| ASP Unifrax Holdings, Inc. (a)(b) | ||
| 6.425% (6.425% Cash or 4.75% PIK), due 9/30/29 | 16,385,146 | 12,379,205 |
| 7.10% (5.85% Cash and 1.25% PIK), due 9/30/29 | 38,080,456 | 3,001,480 |
| Axalta Coating Systems Dutch Holding B BV | ||
| 7.25%, due 2/15/31 (a) | 4,000,000 | 4,209,820 |
| Celanese US Holdings LLC (d) | ||
| 6.85%, due 11/15/28 | 1,870,000 | 1,963,092 |
| 7.05%, due 11/15/30 | 11,000,000 | 11,637,461 |
| 7.20%, due 11/15/33 | 2,500,000 | 2,644,768 |
| 7.33%, due 7/15/29 | 2,500,000 | 2,628,700 |
| 7.379%, due 7/15/32 | 10,000,000 | 10,432,900 |
| GPD Cos., Inc. | ||
| 12.50% (10.125% Cash and 2.375% PIK), due 12/31/29 (a)(b) | 26,065,565 | 13,559,033 |
| Innophos Holdings, Inc. | ||
| 11.50%, due 6/15/29 (a) | 54,615,550 | 53,659,778 |
| Inversion Escrow Issuer LLC | ||
| 6.75%, due 8/1/32 (a) | 12,215,000 | 12,098,904 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Chemicals | ||
| Mativ Holdings, Inc. | ||
| 8.00%, due 10/1/29 (a) | $ 4,700,000 | $ 4,733,647 |
| NOVA Chemicals Corp. (a) | ||
| 5.25%, due 6/1/27 | 24,000,000 | 24,112,128 |
| 7.00%, due 12/1/31 | 8,385,000 | 8,950,451 |
| 8.50%, due 11/15/28 | 14,360,000 | 14,998,848 |
| 9.00%, due 2/15/30 | 22,710,000 | 24,218,603 |
| Olympus Water US Holding Corp. | ||
| 7.25%, due 2/15/33 (a) | 12,480,000 | 12,431,433 |
| Perimeter Holdings LLC | ||
| 6.25%, due 1/15/34 (a) | 22,970,000 | 22,970,919 |
| Qnity Electronics, Inc. (a) | ||
| 5.75%, due 8/15/32 | 15,335,000 | 15,621,979 |
| 6.25%, due 8/15/33 | 11,525,000 | 11,894,883 |
| SCIH Salt Holdings, Inc. | ||
| 4.875%, due 5/1/28 (a) | 9,000,000 | 8,978,145 |
| SK Invictus Intermediate II SARL | ||
| 5.00%, due 10/30/29 (a) | 44,380,000 | 43,669,907 |
| Solstice Advanced Materials, Inc. | ||
| 5.625%, due 9/30/33 (a) | 16,590,000 | 16,677,695 |
| 337,473,779 | ||
| Coal 0.2% | ||
| Alliance Resource Operating Partners LP | ||
| 8.625%, due 6/15/29 (a) | 17,000,000 | 17,900,626 |
| Coronado Finance Pty. Ltd. | ||
| 9.25%, due 10/1/29 (a) | 6,625,000 | 6,269,855 |
| 24,170,481 | ||
| Commercial Services 3.7% | ||
| Alta Equipment Group, Inc. | ||
| 9.00%, due 6/1/29 (a) | 2,000,000 | 1,911,108 |
| AMN Healthcare, Inc. | ||
| 6.50%, due 1/15/31 (a) | 9,225,000 | 9,345,934 |
| Belron UK Finance plc | ||
| 5.75%, due 10/15/29 (a) | 13,360,000 | 13,614,391 |
| Block, Inc. | ||
| 5.625%, due 8/15/30 (a) | 15,595,000 | 15,873,262 |
| 6.00%, due 8/15/33 (a) | 14,285,000 | 14,591,882 |
| 6.50%, due 5/15/32 | 18,500,000 | 19,220,640 |
| Clarivate Science Holdings Corp. (a) | ||
| 3.875%, due 7/1/28 | 31,724,000 | 29,940,543 |
| 4.875%, due 7/1/29 | 62,496,000 | 53,719,362 |
| Dcli Bidco LLC | ||
| 7.75%, due 11/15/29 (a) | 23,880,000 | 24,297,207 |
| GEO Group, Inc. (The) | ||
| 8.625%, due 4/15/29 | 5,000,000 | 5,228,664 |
| 10.25%, due 4/15/31 | 6,015,000 | 6,563,087 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Commercial Services | ||
| Graham Holdings Co. | ||
| 5.625%, due 12/1/33 (a) | $ 16,640,000 | $ 16,720,255 |
| Herc Holdings, Inc. (a) | ||
| 5.75%, due 3/15/31 | 4,560,000 | 4,592,376 |
| 6.00%, due 3/15/34 | 3,000,000 | 3,015,204 |
| 7.00%, due 6/15/30 | 8,605,000 | 9,031,490 |
| Korn Ferry | ||
| 4.625%, due 12/15/27 (a) | 9,685,000 | 9,654,160 |
| NES Fircroft Bondco A/S | ||
| Series Reg S | ||
| 8.00%, due 9/30/29 (a) | 16,375,000 | 16,586,333 |
| NESCO Holdings II, Inc. | ||
| 5.50%, due 4/15/29 (a) | 30,274,000 | 29,832,003 |
| OT Midco, Inc. | ||
| 10.00%, due 2/15/30 (a) | 23,155,000 | 10,797,336 |
| Raven Acquisition Holdings LLC | ||
| 6.875%, due 11/15/31 (a) | 7,420,000 | 7,435,768 |
| TriNet Group, Inc. | ||
| 7.125%, due 8/15/31 (a) | 14,050,000 | 14,455,118 |
| United Rentals North America, Inc. | ||
| 3.875%, due 2/15/31 | 10,135,000 | 9,661,630 |
| 4.875%, due 1/15/28 | 12,760,000 | 12,762,807 |
| 5.375%, due 11/15/33 (a) | 20,815,000 | 20,802,760 |
| Williams Scotsman, Inc. (a) | ||
| 4.625%, due 8/15/28 | 19,500,000 | 19,427,212 |
| 6.625%, due 6/15/29 | 14,250,000 | 14,732,505 |
| 6.625%, due 4/15/30 | 9,000,000 | 9,324,999 |
| 7.375%, due 10/1/31 | 9,515,000 | 9,920,272 |
| 413,058,308 | ||
| Computers 0.5% | ||
| Amentum Holdings, Inc. | ||
| 7.25%, due 8/1/32 (a) | 25,500,000 | 26,872,487 |
| CACI International, Inc. | ||
| 6.375%, due 6/15/33 (a) | 18,000,000 | 18,675,666 |
| Diebold Nixdorf, Inc. | ||
| 7.75%, due 3/31/30 (a) | 6,000,000 | 6,354,444 |
| Gartner, Inc. | ||
| 3.75%, due 10/1/30 (a) | 5,000,000 | 4,739,988 |
| McAfee Corp. | ||
| 7.375%, due 2/15/30 (a) | 3,220,000 | 2,561,829 |
| 59,204,414 | ||
| Cosmetics & Personal Care 1.1% | ||
| Edgewell Personal Care Co. (a) | ||
| 4.125%, due 4/1/29 | 21,750,000 | 20,851,077 |
| 5.50%, due 6/1/28 | 20,505,000 | 20,511,644 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Cosmetics & Personal Care | ||
| Perrigo Finance Unlimited Co. | ||
| 6.125%, due 9/30/32 | $ 17,340,000 | $ 17,054,356 |
| Prestige Brands, Inc. (a) | ||
| 3.75%, due 4/1/31 | 40,485,000 | 37,842,358 |
| 5.125%, due 1/15/28 | 26,880,000 | 26,890,187 |
| 123,149,622 | ||
| Distribution & Wholesale 0.6% | ||
| Dealer Tire LLC | ||
| 8.00%, due 2/1/28 (a) | 5,000,000 | 4,992,004 |
| Gates Corp. | ||
| 6.875%, due 7/1/29 (a) | 3,215,000 | 3,342,099 |
| RB Global Holdings, Inc. (a) | ||
| 6.75%, due 3/15/28 | 13,290,000 | 13,536,941 |
| 7.75%, due 3/15/31 | 29,540,000 | 30,792,112 |
| Velocity Vehicle Group LLC | ||
| 8.00%, due 6/1/29 (a) | 15,290,000 | 14,965,279 |
| 67,628,435 | ||
| Diversified Financial Services 3.4% | ||
| Aretec Group, Inc. (a) | ||
| 7.50%, due 4/1/29 | 19,867,000 | 19,818,330 |
| 10.00%, due 8/15/30 | 12,140,000 | 13,077,087 |
| Cantor Fitzgerald LP | ||
| 7.20%, due 12/12/28 (a) | 4,000,000 | 4,258,272 |
| Enact Holdings, Inc. | ||
| 6.25%, due 5/28/29 | 5,750,000 | 6,025,991 |
| Jane Street Group (a) | ||
| 6.125%, due 11/1/32 | 47,310,000 | 48,185,566 |
| 6.75%, due 5/1/33 | 11,530,000 | 11,992,799 |
| 7.125%, due 4/30/31 | 58,500,000 | 61,507,660 |
| Jefferies Finance LLC | ||
| 5.00%, due 8/15/28 (a) | 2,000,000 | 1,939,151 |
| Osaic Holdings, Inc. (a) | ||
| 6.75%, due 8/1/32 | 21,435,000 | 22,214,509 |
| 6.75%, due 8/1/32 | 14,270,000 | 14,786,859 |
| 8.00%, due 8/1/33 | 7,550,000 | 7,825,802 |
| 8.00%, due 8/1/33 | 6,260,000 | 6,486,988 |
| PennyMac Financial Services, Inc. (a) | ||
| 4.25%, due 2/15/29 | 9,500,000 | 9,141,890 |
| 5.75%, due 9/15/31 | 7,000,000 | 6,912,922 |
| 6.75%, due 2/15/34 | 10,350,000 | 10,444,547 |
| 6.875%, due 2/15/33 | 5,000,000 | 5,100,053 |
| 7.125%, due 11/15/30 | 17,000,000 | 17,550,732 |
| Planet Financial Group LLC | ||
| 10.50%, due 12/15/29 (a) | 11,025,000 | 11,454,821 |
| Provident Funding Associates LP | ||
| 9.75%, due 9/15/29 (a) | 8,890,000 | 9,324,721 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Diversified Financial Services | ||
| Rocket Cos., Inc. (a) | ||
| 6.125%, due 8/1/30 | $ 16,980,000 | $ 17,384,277 |
| 6.375%, due 8/1/33 | 12,205,000 | 12,662,211 |
| Stonex Escrow Issuer LLC | ||
| 6.875%, due 7/15/32 (a) | 28,290,000 | 29,186,765 |
| StoneX Group, Inc. | ||
| 7.875%, due 3/1/31 (a) | 37,305,000 | 39,688,155 |
| 386,970,108 | ||
| Electric 4.3% | ||
| Alpha Generation LLC | ||
| 6.75%, due 10/15/32 (a) | 12,000,000 | 12,441,624 |
| Clearway Energy Operating LLC (a) | ||
| 4.75%, due 3/15/28 | 24,940,000 | 24,922,420 |
| 5.75%, due 1/15/34 | 6,050,000 | 6,072,055 |
| EUSHI Finance, Inc. | ||
| 6.25% (5 Year Treasury Constant Maturity Rate + 2.509%), due 4/1/56 (e) | 10,100,000 | 10,142,521 |
| Keystone Power Pass-Through Holders LLC | ||
| 13.00% (12.00% PIK), due 6/1/28 (a)(b)(f) | 4,397,206 | 4,306,330 |
| Leeward Renewable Energy Operations LLC | ||
| 4.25%, due 7/1/29 (a) | 10,500,000 | 10,141,948 |
| Lightning Power LLC | ||
| 7.25%, due 8/15/32 (a) | 38,415,000 | 40,888,695 |
| NRG Energy, Inc. (a) | ||
| 5.75%, due 1/15/34 | 24,520,000 | 24,682,617 |
| 6.00%, due 2/1/33 | 12,500,000 | 12,739,850 |
| 6.00%, due 1/15/36 | 41,995,000 | 42,433,302 |
| 6.25%, due 11/1/34 | 7,000,000 | 7,186,151 |
| Pattern Energy Operations LP | ||
| 4.50%, due 8/15/28 (a) | 5,250,000 | 5,199,459 |
| PG&E Corp. | ||
| 5.00%, due 7/1/28 | 19,310,000 | 19,269,034 |
| 5.25%, due 7/1/30 | 15,000,000 | 14,909,107 |
| Talen Energy Supply LLC (a) | ||
| 6.25%, due 2/1/34 | 24,550,000 | 24,880,443 |
| 6.50%, due 2/1/36 | 29,385,000 | 30,126,780 |
| 8.625%, due 6/1/30 | 55,045,000 | 58,078,530 |
| TransAlta Corp. | ||
| 5.875%, due 2/1/34 | 2,310,000 | 2,311,848 |
| Vistra Corp. (a)(e)(g) | ||
| 7.00% (5 Year Treasury Constant Maturity Rate + 5.74%), due 12/15/26 | 10,280,000 | 10,435,475 |
| 8.00% (5 Year Treasury Constant Maturity Rate + 6.93%), due 10/15/26 | 35,500,000 | 36,154,513 |
| Vistra Operations Co. LLC | ||
| 6.875%, due 4/15/32 (a) | 10,650,000 | 11,190,381 |
| VoltaGrid LLC | ||
| 7.375%, due 11/1/30 (a) | 16,490,000 | 16,701,259 |
| XPLR Infrastructure Operating Partners LP (a) | ||
| 4.50%, due 9/15/27 | 9,450,000 | 9,364,076 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Electric | ||
| XPLR Infrastructure Operating Partners LP (a) | ||
| 7.25%, due 1/15/29 | $ 4,000,000 | $ 4,127,536 |
| 7.75%, due 4/15/34 | 8,915,000 | 9,087,470 |
| 8.375%, due 1/15/31 | 17,090,000 | 17,951,667 |
| 8.625%, due 3/15/33 | 14,190,000 | 14,886,994 |
| 480,632,085 | ||
| Electrical Components & Equipment 0.4% | ||
| EnerSys | ||
| 6.625%, due 1/15/32 (a) | 10,000,000 | 10,357,420 |
| WESCO Distribution, Inc. (a) | ||
| 6.375%, due 3/15/29 | 7,500,000 | 7,732,665 |
| 6.375%, due 3/15/33 | 7,300,000 | 7,601,271 |
| 6.625%, due 3/15/32 | 19,720,000 | 20,605,329 |
| 46,296,685 | ||
| Electronics 0.1% | ||
| Sensata Technologies BV | ||
| 5.875%, due 9/1/30 (a) | 12,000,000 | 12,178,368 |
| Engineering & Construction 1.0% | ||
| AECOM | ||
| 6.00%, due 8/1/33 (a) | 24,730,000 | 25,333,338 |
| Arcosa, Inc. | ||
| 6.875%, due 8/15/32 (a) | 23,860,000 | 25,133,695 |
| Artera Services LLC | ||
| 8.50%, due 2/15/31 (a) | 10,000,000 | 8,128,470 |
| Great Lakes Dredge & Dock Corp. | ||
| 5.25%, due 6/1/29 (a) | 14,178,000 | 13,945,601 |
| Weekley Homes LLC (a) | ||
| 4.875%, due 9/15/28 | 21,580,000 | 21,259,241 |
| 6.75%, due 1/15/34 | 18,900,000 | 18,997,127 |
| 112,797,472 | ||
| Entertainment 4.4% | ||
| Affinity Interactive | ||
| 6.875%, due 12/15/27 (a) | 12,395,000 | 7,437,000 |
| Boyne USA, Inc. | ||
| 4.75%, due 5/15/29 (a) | 20,480,000 | 20,208,980 |
| Caesars Entertainment, Inc. (a) | ||
| 6.00%, due 10/15/32 | 29,875,000 | 29,064,163 |
| 6.50%, due 2/15/32 | 9,000,000 | 9,202,725 |
| 7.00%, due 2/15/30 | 19,750,000 | 20,394,245 |
| Churchill Downs, Inc. (a) | ||
| 4.75%, due 1/15/28 | 50,525,000 | 50,352,543 |
| 5.50%, due 4/1/27 | 40,174,000 | 40,166,909 |
| 5.75%, due 4/1/30 | 27,000,000 | 27,146,367 |
| 6.75%, due 5/1/31 | 12,800,000 | 13,188,275 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Entertainment | ||
| Flutter Treasury DAC | ||
| 5.875%, due 6/4/31 (a) | $ 7,000,000 | $ 7,090,674 |
| Jacobs Entertainment, Inc. (a) | ||
| 6.75%, due 2/15/29 | 26,374,000 | 26,039,578 |
| 6.75%, due 2/15/29 | 8,775,000 | 8,636,618 |
| Light & Wonder International, Inc. (a) | ||
| 6.25%, due 10/1/33 | 13,330,000 | 13,496,625 |
| 7.25%, due 11/15/29 | 15,665,000 | 16,082,472 |
| 7.50%, due 9/1/31 | 18,000,000 | 18,836,028 |
| Live Nation Entertainment, Inc. (a) | ||
| 4.75%, due 10/15/27 | 12,000,000 | 11,996,287 |
| 6.50%, due 5/15/27 | 39,280,000 | 39,456,482 |
| Merlin Entertainments Group US Holdings, Inc. | ||
| 7.375%, due 2/15/31 (a) | 12,050,000 | 10,202,912 |
| Motion Bondco DAC | ||
| 6.625%, due 11/15/27 (a) | 20,500,000 | 19,456,888 |
| Motion Finco SARL | ||
| 8.375%, due 2/15/32 (a) | 14,435,000 | 12,438,295 |
| Rivers Enterprise Borrower LLC | ||
| 6.625%, due 2/1/33 (a) | 20,000,000 | 20,356,840 |
| Rivers Enterprise Lender LLC | ||
| 6.25%, due 10/15/30 (a) | 17,975,000 | 18,247,465 |
| Voyager Parent LLC | ||
| 9.25%, due 7/1/32 (a) | 26,825,000 | 28,496,734 |
| Warnermedia Holdings, Inc. | ||
| 4.279%, due 3/15/32 | 23,900,000 | 21,032,000 |
| 5.05%, due 3/15/42 | 13,600,000 | 9,554,000 |
| 498,581,105 | ||
| Environmental Control 0.3% | ||
| Clean Harbors, Inc. | ||
| 5.75%, due 10/15/33 (a) | 11,000,000 | 11,238,150 |
| Luna 1.5 SARL | ||
| 12.00%, due 7/1/32 (a) | 12,100,000 | 12,769,162 |
| Waste Pro USA, Inc. | ||
| 7.00%, due 2/1/33 (a) | 12,650,000 | 12,996,167 |
| 37,003,479 | ||
| Food 2.0% | ||
| Albertsons Cos., Inc. (a) | ||
| 5.625%, due 3/31/32 | 8,600,000 | 8,591,286 |
| 5.75%, due 3/31/34 | 13,275,000 | 13,055,613 |
| C&S Group Enterprises LLC | ||
| 5.00%, due 12/15/28 (a) | 4,000,000 | 3,754,528 |
| Chobani Holdco II LLC | ||
| 8.75% (8.75% Cash or 9.50% PIK), due 10/1/29 (a)(b) | 28,465,050 | 29,414,891 |
| Chobani LLC | ||
| 7.625%, due 7/1/29 (a) | 21,750,000 | 22,621,087 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Food | ||
| Land O'Lakes Capital Trust I | ||
| 7.45%, due 3/15/28 (a) | $ 19,509,000 | $ 20,060,896 |
| Performance Food Group, Inc. (a) | ||
| 4.25%, due 8/1/29 | 19,000,000 | 18,603,892 |
| 5.50%, due 10/15/27 | 5,000,000 | 5,002,710 |
| 6.125%, due 9/15/32 | 13,250,000 | 13,608,518 |
| Post Holdings, Inc. (a) | ||
| 6.375%, due 3/1/33 | 5,000,000 | 5,038,340 |
| 6.50%, due 3/15/36 | 9,290,000 | 9,298,396 |
| Simmons Foods, Inc. | ||
| 4.625%, due 3/1/29 (a) | 46,335,000 | 44,656,806 |
| United Natural Foods, Inc. | ||
| 6.75%, due 10/15/28 (a) | 27,018,000 | 27,065,606 |
| 220,772,569 | ||
| Forest Products & Paper 0.4% | ||
| Mercer International, Inc. | ||
| 5.125%, due 2/1/29 | 47,150,000 | 29,134,612 |
| 12.875%, due 10/1/28 (a) | 19,975,000 | 14,604,010 |
| 43,738,622 | ||
| Gas 0.2% | ||
| AltaGas Ltd. | ||
| 7.20% (5 Year Treasury Constant Maturity Rate + 3.573%), due 10/15/54 (a)(e) | 20,545,000 | 21,367,642 |
| Healthcare-Products 1.6% | ||
| Bausch + Lomb Corp. | ||
| 8.375%, due 10/1/28 (a) | 31,040,000 | 32,359,200 |
| Hologic, Inc. (a) | ||
| 3.25%, due 2/15/29 | 38,100,000 | 37,960,817 |
| 4.625%, due 2/1/28 | 11,005,000 | 10,992,584 |
| Neogen Food Safety Corp. | ||
| 8.625%, due 7/20/30 (a) | 16,600,000 | 17,696,646 |
| Teleflex, Inc. | ||
| 4.25%, due 6/1/28 (a) | 37,960,000 | 37,433,001 |
| Varex Imaging Corp. | ||
| 7.875%, due 10/15/27 (a) | 39,702,000 | 40,397,460 |
| 176,839,708 | ||
| Healthcare-Services 3.3% | ||
| Acadia Healthcare Co., Inc. (a) | ||
| 5.00%, due 4/15/29 | 3,750,000 | 3,600,231 |
| 5.50%, due 7/1/28 | 4,195,000 | 4,145,150 |
| DaVita, Inc. (a) | ||
| 3.75%, due 2/15/31 | 18,035,000 | 16,543,343 |
| 4.625%, due 6/1/30 | 13,490,000 | 12,980,291 |
| Encompass Health Corp. | ||
| 4.50%, due 2/1/28 | 23,970,000 | 23,857,272 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Healthcare-Services | ||
| Encompass Health Corp. | ||
| 4.625%, due 4/1/31 | $ 9,200,000 | $ 9,005,251 |
| 4.75%, due 2/1/30 | 23,300,000 | 23,193,020 |
| Fortrea Holdings, Inc. | ||
| 7.50%, due 7/1/30 (a) | 6,767,000 | 6,884,353 |
| Global Medical Response, Inc. | ||
| 7.375%, due 10/1/32 (a) | 16,600,000 | 17,164,234 |
| HCA, Inc. | ||
| 7.50%, due 11/6/33 | 31,500,000 | 36,067,656 |
| IQVIA, Inc. (a) | ||
| 5.00%, due 10/15/26 | 29,113,000 | 29,102,417 |
| 5.00%, due 5/15/27 | 5,000,000 | 5,001,683 |
| 6.25%, due 6/1/32 | 40,300,000 | 41,869,685 |
| 6.50%, due 5/15/30 | 6,000,000 | 6,215,250 |
| LifePoint Health, Inc. (a) | ||
| 5.375%, due 1/15/29 | 17,023,000 | 16,529,362 |
| 8.375%, due 2/15/32 | 20,120,000 | 21,862,191 |
| 10.00%, due 6/1/32 | 26,175,000 | 27,615,141 |
| 11.00%, due 10/15/30 | 22,800,000 | 24,865,156 |
| Molina Healthcare, Inc. | ||
| 6.50%, due 2/15/31 (a) | 8,000,000 | 8,198,784 |
| Tenet Healthcare Corp. | ||
| 5.50%, due 11/15/32 (a) | 11,155,000 | 11,269,845 |
| 6.00%, due 11/15/33 (a) | 5,120,000 | 5,268,644 |
| 6.125%, due 6/15/30 | 10,500,000 | 10,715,345 |
| 6.75%, due 5/15/31 | 10,000,000 | 10,386,530 |
| 372,340,834 | ||
| Holding Companies-Diversified 0.5% | ||
| Stena International SA (a) | ||
| 7.25%, due 1/15/31 | 27,285,000 | 28,033,217 |
| 7.625%, due 2/15/31 | 30,250,000 | 31,306,179 |
| 59,339,396 | ||
| Home Builders 1.2% | ||
| Brookfield Residential Properties, Inc. | ||
| 6.25%, due 9/15/27 (a) | 15,860,000 | 15,861,523 |
| Century Communities, Inc. | ||
| 3.875%, due 8/15/29 (a) | 10,545,000 | 10,035,453 |
| Installed Building Products, Inc. | ||
| 5.625%, due 2/1/34 (a) | 10,230,000 | 10,288,803 |
| M/I Homes, Inc. | ||
| 3.95%, due 2/15/30 | 4,000,000 | 3,849,653 |
| 4.95%, due 2/1/28 | 7,500,000 | 7,480,247 |
| Mattamy Group Corp. | ||
| 6.00%, due 12/15/33 (a) | 21,695,000 | 21,316,828 |
| Shea Homes LP | ||
| 4.75%, due 2/15/28 | 26,925,000 | 26,874,096 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Home Builders | ||
| Shea Homes LP | ||
| 4.75%, due 4/1/29 | $ 5,500,000 | $ 5,428,047 |
| STL Holding Co. LLC | ||
| 8.75%, due 2/15/29 (a) | 12,500,000 | 13,144,737 |
| Winnebago Industries, Inc. | ||
| 6.25%, due 7/15/28 (a) | 17,777,000 | 17,762,325 |
| 132,041,712 | ||
| Housewares 1.4% | ||
| Central Garden & Pet Co. | ||
| 4.125%, due 10/15/30 | 15,620,000 | 14,997,260 |
| 4.125%, due 4/30/31 (a) | 14,875,000 | 14,078,072 |
| Newell Brands, Inc. | ||
| 6.375%, due 5/15/30 | 31,650,000 | 31,283,816 |
| 6.625%, due 5/15/32 | 13,250,000 | 12,976,176 |
| 8.50%, due 6/1/28 (a) | 13,410,000 | 14,059,647 |
| Scotts Miracle-Gro Co. (The) | ||
| 4.00%, due 4/1/31 | 27,461,000 | 25,849,797 |
| 4.375%, due 2/1/32 | 19,465,000 | 18,350,056 |
| 4.50%, due 10/15/29 | 26,750,000 | 26,339,275 |
| 157,934,099 | ||
| Insurance 1.3% | ||
| Asurion LLC and Asurion Co-Issuer, Inc. (a) | ||
| 8.00%, due 12/31/32 | 22,255,000 | 23,252,124 |
| 8.375%, due 2/1/34 | 10,755,000 | 10,872,876 |
| Baldwin Insurance Group Holdings LLC | ||
| 7.125%, due 5/15/31 (a) | 11,000,000 | 11,311,564 |
| Broadstreet Partners Group LLC | ||
| 5.875%, due 4/15/29 (a) | 5,000,000 | 4,988,187 |
| Fairfax Financial Holdings Ltd. | ||
| 8.30%, due 4/15/26 | 5,435,000 | 5,476,965 |
| HUB International Ltd. | ||
| 7.25%, due 6/15/30 (a) | 10,000,000 | 10,433,540 |
| MGIC Investment Corp. | ||
| 5.25%, due 8/15/28 | 23,857,000 | 23,843,233 |
| NMI Holdings, Inc. | ||
| 6.00%, due 8/15/29 | 5,675,000 | 5,855,692 |
| Panther Escrow Issuer LLC | ||
| 7.125%, due 6/1/31 (a) | 15,000,000 | 15,448,890 |
| Ryan Specialty LLC | ||
| 5.875%, due 8/1/32 (a) | 19,710,000 | 20,037,458 |
| USI, Inc. | ||
| 7.50%, due 1/15/32 (a) | 10,000,000 | 10,468,700 |
| 141,989,229 | ||
| Internet 0.8% | ||
| Cars.com, Inc. | ||
| 6.375%, due 11/1/28 (a) | 14,900,000 | 14,866,256 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Internet | ||
| Cogent Communications Group LLC (a) | ||
| 6.50%, due 7/1/32 | $ 26,800,000 | $ 24,609,462 |
| 7.00%, due 6/15/27 | 12,270,000 | 12,217,240 |
| Gen Digital, Inc. (a) | ||
| 6.25%, due 4/1/33 | 5,750,000 | 5,777,709 |
| 6.75%, due 9/30/27 | 10,000,000 | 10,083,558 |
| 7.125%, due 9/30/30 | 8,000,000 | 8,199,368 |
| Go Daddy Operating Co. LLC | ||
| 3.50%, due 3/1/29 (a) | 5,000,000 | 4,751,186 |
| Match Group Holdings II LLC | ||
| 6.125%, due 9/15/33 (a) | 8,020,000 | 8,049,780 |
| 88,554,559 | ||
| Investment Companies 0.3% | ||
| Ares Capital Corp. | ||
| 5.50%, due 9/1/30 | 11,170,000 | 11,228,770 |
| Compass Group Diversified Holdings LLC | ||
| 5.25%, due 4/15/29 (a) | 26,146,019 | 24,374,318 |
| Icahn Enterprises LP | ||
| 6.25%, due 5/15/26 | 2,554,000 | 2,554,082 |
| 38,157,170 | ||
| Iron & Steel 1.4% | ||
| Big River Steel LLC | ||
| 6.625%, due 1/31/29 (a) | 41,082,000 | 41,463,241 |
| Commercial Metals Co. (a) | ||
| 5.75%, due 11/15/33 | 12,235,000 | 12,439,288 |
| 6.00%, due 12/15/35 | 12,665,000 | 12,939,948 |
| Mineral Resources Ltd. (a) | ||
| 7.00%, due 4/1/31 | 30,150,000 | 31,686,312 |
| 8.00%, due 11/1/27 | 5,465,000 | 5,588,625 |
| 8.50%, due 5/1/30 | 24,729,000 | 25,634,990 |
| 9.25%, due 10/1/28 | 27,835,000 | 29,238,143 |
| 158,990,547 | ||
| Leisure Time 0.4% | ||
| Carnival Corp. (a) | ||
| 5.75%, due 8/1/32 | 23,630,000 | 24,268,577 |
| 7.00%, due 8/15/29 | 5,000,000 | 5,232,504 |
| MajorDrive Holdings IV LLC | ||
| 6.375%, due 6/1/29 (a) | 16,905,000 | 13,599,645 |
| Royal Caribbean Cruises Ltd. | ||
| 5.50%, due 4/1/28 (a) | 5,000,000 | 5,101,627 |
| 48,202,353 | ||
| Lodging 2.0% | ||
| Boyd Gaming Corp. | ||
| 4.75%, due 12/1/27 | 39,340,000 | 39,325,070 |
| 4.75%, due 6/15/31 (a) | 51,375,000 | 50,045,585 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Lodging | ||
| Hilton Domestic Operating Co., Inc. | ||
| 4.00%, due 5/1/31 (a) | $ 38,340,000 | $ 36,597,340 |
| 4.875%, due 1/15/30 | 41,960,000 | 42,041,990 |
| 5.50%, due 3/31/34 (a) | 6,650,000 | 6,682,080 |
| 5.75%, due 9/15/33 (a) | 12,425,000 | 12,657,969 |
| 5.875%, due 3/15/33 (a) | 33,000,000 | 33,861,960 |
| Wynn Macau Ltd. | ||
| 6.75%, due 2/15/34 (a) | 8,000,000 | 8,108,949 |
| 229,320,943 | ||
| Machinery—Construction & Mining 0.3% | ||
| Vertiv Group Corp. | ||
| 4.125%, due 11/15/28 (a) | 28,856,000 | 28,416,102 |
| Machinery-Diversified 1.3% | ||
| Briggs & Stratton Corp. Escrow Claim Shares | ||
| 6.875%, due 12/15/20 (f)(h)(i) | 9,200,000 | — |
| Chart Industries, Inc. | ||
| 7.50%, due 1/1/30 (a) | 12,000,000 | 12,485,580 |
| Columbus McKinnon Corp. | ||
| 7.125%, due 2/1/33 (a) | 15,365,000 | 15,444,898 |
| CompoSecure Holdings LLC | ||
| 5.625%, due 2/1/33 (a) | 18,030,000 | 17,972,304 |
| Maxim Crane Works Holdings Capital LLC | ||
| 11.50%, due 9/1/28 (a) | 16,750,000 | 17,845,149 |
| Regal Rexnord Corp. | ||
| 6.05%, due 2/15/26 | 5,350,000 | 5,351,484 |
| 6.05%, due 4/15/28 | 5,000,000 | 5,183,088 |
| 6.30%, due 2/15/30 | 4,000,000 | 4,241,070 |
| 6.40%, due 4/15/33 | 7,000,000 | 7,480,389 |
| TK Elevator U.S. Newco, Inc. | ||
| 5.25%, due 7/15/27 (a) | 56,561,000 | 56,577,459 |
| 142,581,421 | ||
| Media 5.5% | ||
| Block Communications, Inc. | ||
| 4.875%, due 3/1/28 (a) | 10,595,000 | 10,396,196 |
| Cable One, Inc. | ||
| 4.00%, due 11/15/30 (a) | 12,795,000 | 9,312,909 |
| CCO Holdings LLC | ||
| 4.25%, due 2/1/31 (a) | 23,590,000 | 21,597,709 |
| 4.25%, due 1/15/34 (a) | 14,000,000 | 11,825,668 |
| 4.50%, due 8/15/30 (a) | 19,000,000 | 17,856,977 |
| 4.50%, due 5/1/32 | 62,595,000 | 56,171,962 |
| 4.75%, due 3/1/30 (a) | 31,835,000 | 30,412,007 |
| 5.00%, due 2/1/28 (a) | 24,000,000 | 23,867,861 |
| 5.125%, due 5/1/27 (a) | 32,000,000 | 32,013,100 |
| 5.375%, due 6/1/29 (a) | 12,495,000 | 12,356,367 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Media | ||
| CSC Holdings LLC (a) | ||
| 5.50%, due 4/15/27 | $ 18,250,000 | $ 16,108,244 |
| 5.75%, due 1/15/30 | 20,500,000 | 8,057,612 |
| 6.50%, due 2/1/29 | 16,805,000 | 10,760,191 |
| 7.50%, due 4/1/28 | 11,650,000 | 6,970,545 |
| 11.25%, due 5/15/28 | 2,155,000 | 1,727,201 |
| 11.75%, due 1/31/29 | 15,150,000 | 11,046,866 |
| Directv Financing LLC (a) | ||
| 5.875%, due 8/15/27 | 15,243,000 | 15,317,249 |
| 8.875%, due 2/1/30 | 4,210,000 | 4,262,663 |
| Discovery Communications LLC | ||
| 3.625%, due 5/15/30 | 9,540,000 | 8,813,147 |
| 4.125%, due 5/15/29 | 18,000,000 | 17,485,020 |
| Gray Media, Inc. (a) | ||
| 7.25%, due 8/15/33 | 10,000,000 | 10,237,730 |
| 9.625%, due 7/15/32 | 11,500,000 | 11,855,943 |
| 10.50%, due 7/15/29 | 9,404,000 | 10,100,977 |
| LCPR Senior Secured Financing DAC (a) | ||
| 5.125%, due 7/15/29 | 15,800,000 | 10,506,989 |
| 6.75%, due 10/15/27 | 56,917,000 | 39,699,608 |
| Midcontinent Communications | ||
| 8.00%, due 8/15/32 (a) | 3,500,000 | 3,367,593 |
| News Corp. (a) | ||
| 3.875%, due 5/15/29 | 28,380,000 | 27,649,754 |
| 5.125%, due 2/15/32 | 12,545,000 | 12,526,920 |
| Scripps Escrow II, Inc. | ||
| 3.875%, due 1/15/29 (a) | 3,500,000 | 3,230,166 |
| Sinclair Television Group, Inc. | ||
| 8.125%, due 2/15/33 (a) | 22,700,000 | 23,481,334 |
| Sirius XM Radio LLC (a) | ||
| 5.00%, due 8/1/27 | 9,425,000 | 9,408,617 |
| 5.50%, due 7/1/29 | 8,140,000 | 8,176,443 |
| TEGNA, Inc. | ||
| 4.625%, due 3/15/28 | 5,000,000 | 4,965,216 |
| Univision Communications, Inc. | ||
| 9.375%, due 8/1/32 (a) | 17,400,000 | 18,733,814 |
| Versant Media Group, Inc. | ||
| 7.25%, due 1/30/31 (a) | 33,485,000 | 34,315,078 |
| Virgin Media Finance plc | ||
| 5.00%, due 7/15/30 (a) | 24,300,000 | 21,232,643 |
| Virgin Media Secured Finance plc | ||
| 5.50%, due 5/15/29 (a) | 17,050,000 | 16,816,615 |
| VZ Secured Financing BV | ||
| 5.00%, due 1/15/32 (a) | 6,000,000 | 5,417,747 |
| Ziggo BV | ||
| 4.875%, due 1/15/30 (a) | 17,000,000 | 16,049,093 |
| 614,131,774 | ||
| Principal Amount | Value | |
| Corporate Bonds | ||
| Metal Fabricate & Hardware 0.5% | ||
| Advanced Drainage Systems, Inc. (a) | ||
| 5.00%, due 9/30/27 | $ 18,315,000 | $ 18,291,328 |
| 6.375%, due 6/15/30 | 14,615,000 | 14,942,858 |
| Park-Ohio Industries, Inc. | ||
| 8.50%, due 8/1/30 (a) | 10,000,000 | 10,269,400 |
| Vallourec SACA | ||
| 7.50%, due 4/15/32 (a) | 10,000,000 | 10,627,350 |
| 54,130,936 | ||
| Mining 1.8% | ||
| Alcoa Nederland Holding BV | ||
| 7.125%, due 3/15/31 (a) | 18,500,000 | 19,569,837 |
| Alumina Pty. Ltd. (a) | ||
| 6.125%, due 3/15/30 | 10,000,000 | 10,315,590 |
| 6.375%, due 9/15/32 | 18,020,000 | 18,732,889 |
| Century Aluminum Co. | ||
| 6.875%, due 8/1/32 (a) | 23,640,000 | 24,480,793 |
| Compass Minerals International, Inc. | ||
| 8.00%, due 7/1/30 (a) | 15,735,000 | 16,689,103 |
| Eldorado Gold Corp. | ||
| 6.25%, due 9/1/29 (a) | 24,350,000 | 24,471,823 |
| First Quantum Minerals Ltd. (a) | ||
| 7.25%, due 2/15/34 | 13,425,000 | 14,104,278 |
| 8.625%, due 6/1/31 | 8,500,000 | 8,928,834 |
| 9.375%, due 3/1/29 | 16,850,000 | 17,677,065 |
| IAMGOLD Corp. | ||
| 5.75%, due 10/15/28 (a) | 43,085,000 | 43,259,064 |
| 198,229,276 | ||
| Miscellaneous—Manufacturing 1.0% | ||
| Amsted Industries, Inc. (a) | ||
| 4.625%, due 5/15/30 | 13,090,000 | 12,948,724 |
| 6.375%, due 3/15/33 | 10,790,000 | 11,167,013 |
| Avient Corp. | ||
| 7.125%, due 8/1/30 (a) | 11,745,000 | 12,080,966 |
| Calderys Financing II LLC | ||
| 11.75% (11.75% Cash or 12.50% PIK), due 6/1/28 (a)(b) | 27,359,375 | 27,778,098 |
| Calderys Financing LLC | ||
| 11.25%, due 6/1/28 (a) | 13,900,000 | 14,482,563 |
| Enpro, Inc. | ||
| 6.125%, due 6/1/33 (a) | 6,500,000 | 6,683,748 |
| LSB Industries, Inc. | ||
| 6.25%, due 10/15/28 (a) | 5,510,000 | 5,515,918 |
| Trinity Industries, Inc. | ||
| 7.75%, due 7/15/28 (a) | 18,775,000 | 19,379,761 |
| 110,036,791 | ||
| Principal Amount | Value | |
| Corporate Bonds | ||
| Oil & Gas 5.5% | ||
| Ascent Resources Utica Holdings LLC (a) | ||
| 6.625%, due 10/15/32 | $ 9,250,000 | $ 9,586,469 |
| 9.00%, due 11/1/27 | 11,295,000 | 13,914,649 |
| Chord Energy Corp. (a) | ||
| 6.00%, due 10/1/30 | 14,500,000 | 14,782,725 |
| 6.75%, due 3/15/33 | 1,615,000 | 1,674,225 |
| Comstock Resources, Inc. (a) | ||
| 6.75%, due 3/1/29 | 14,790,000 | 14,884,301 |
| 6.75%, due 3/1/29 | 14,000,000 | 14,017,360 |
| Crescent Energy Finance LLC (a) | ||
| 7.625%, due 4/1/32 | 7,000,000 | 6,943,178 |
| 7.75%, due 7/31/29 | 23,958,000 | 24,017,895 |
| 7.875%, due 4/15/32 | 16,800,000 | 16,714,884 |
| Diamond Foreign Asset Co. | ||
| 8.50%, due 10/1/30 (a) | 29,785,000 | 31,671,284 |
| Gulfport Energy Operating Corp. | ||
| 6.75%, due 9/1/29 (a) | 13,955,000 | 14,391,610 |
| Hilcorp Energy I LP (a) | ||
| 5.75%, due 2/1/29 | 6,000,000 | 6,001,440 |
| 6.00%, due 2/1/31 | 12,845,000 | 12,404,815 |
| Matador Resources Co. (a) | ||
| 6.25%, due 4/15/33 | 16,680,000 | 16,810,905 |
| 6.50%, due 4/15/32 | 11,250,000 | 11,455,290 |
| 6.875%, due 4/15/28 | 6,100,000 | 6,232,687 |
| Moss Creek Resources Holdings, Inc. | ||
| 8.25%, due 9/1/31 (a) | 21,700,000 | 21,103,636 |
| Murphy Oil Corp. | ||
| 6.00%, due 10/1/32 | 9,750,000 | 9,741,834 |
| 6.50%, due 2/15/34 | 12,845,000 | 12,798,590 |
| Noble Finance II LLC | ||
| 8.00%, due 4/15/30 (a) | 38,500,000 | 40,134,516 |
| PBF Holding Co. LLC | ||
| 9.875%, due 3/15/30 (a) | 10,200,000 | 10,816,784 |
| Permian Resources Operating LLC | ||
| 5.875%, due 7/1/29 (a) | 7,000,000 | 7,023,513 |
| Range Resources Corp. | ||
| 4.75%, due 2/15/30 (a) | 5,000,000 | 4,931,400 |
| Seadrill Finance Ltd. | ||
| 8.375%, due 8/1/30 (a) | 19,515,000 | 20,443,660 |
| SM Energy Co. | ||
| 6.625%, due 1/15/27 | 5,150,000 | 5,155,285 |
| 6.75%, due 8/1/29 (a) | 12,750,000 | 12,895,133 |
| 7.00%, due 8/1/32 (a) | 8,500,000 | 8,521,780 |
| Sunoco LP | ||
| 4.50%, due 10/1/29 (a) | 25,035,000 | 24,499,421 |
| 4.625%, due 5/1/30 (a) | 18,195,000 | 17,741,539 |
| 5.875%, due 7/15/27 (a) | 16,025,000 | 16,038,276 |
| 6.00%, due 4/15/27 | 18,965,000 | 18,984,572 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Oil & Gas | ||
| Talos Production, Inc. (a) | ||
| 9.00%, due 2/1/29 | $ 24,000,000 | $ 25,006,800 |
| 9.375%, due 2/1/31 | 29,745,000 | 31,510,396 |
| TGNR Intermediate Holdings LLC | ||
| 5.50%, due 10/15/29 (a) | 40,500,000 | 40,077,010 |
| Transocean Aquila Ltd. | ||
| 8.00%, due 9/30/28 (a) | 8,676,923 | 8,894,358 |
| Transocean International Ltd. (a) | ||
| 8.25%, due 5/15/29 | 6,000,000 | 6,113,220 |
| 8.75%, due 2/15/30 | 38,118,750 | 39,736,281 |
| Wildfire Intermediate Holdings LLC | ||
| 7.50%, due 10/15/29 (a) | 17,055,000 | 17,290,120 |
| 614,961,841 | ||
| Oil & Gas Services 1.2% | ||
| Archrock Services LP | ||
| 6.00%, due 2/1/34 (a) | 7,250,000 | 7,244,530 |
| Bristow Group, Inc. (a) | ||
| 6.75%, due 2/1/33 | 18,645,000 | 18,863,441 |
| 6.875%, due 3/1/28 | 37,250,000 | 37,289,448 |
| Kodiak Gas Services LLC | ||
| 6.75%, due 10/1/35 (a) | 7,750,000 | 8,007,889 |
| Nine Energy Service, Inc. | ||
| 13.00%, due 2/1/28 | 30,200,000 | 7,430,106 |
| Oceaneering International, Inc. | ||
| 6.00%, due 2/1/28 | 10,600,000 | 10,770,490 |
| SESI LLC | ||
| 7.875%, due 9/30/30 (a) | 23,500,000 | 23,695,638 |
| Tidewater, Inc. | ||
| 9.125%, due 7/15/30 (a) | 23,075,000 | 24,959,789 |
| 138,261,331 | ||
| Packaging & Containers 0.1% | ||
| Cascades USA, Inc. | ||
| 5.375%, due 1/15/28 (a) | 13,500,000 | 13,488,379 |
| Trivium Packaging Finance BV | ||
| 8.25%, due 7/15/30 (a) | 2,003,000 | 2,137,349 |
| 15,625,728 | ||
| Pharmaceuticals 2.2% | ||
| 1261229 BC Ltd. | ||
| 10.00%, due 4/15/32 (a) | 32,913,000 | 33,777,196 |
| Bausch Health Cos., Inc. | ||
| 11.00%, due 9/30/28 (a) | 11,162,000 | 11,603,792 |
| BellRing Brands, Inc. | ||
| 7.00%, due 3/15/30 (a) | 27,581,000 | 28,340,819 |
| Endo Finance Holdings LP | ||
| 8.50%, due 4/15/31 (a) | 27,445,000 | 29,039,747 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Pharmaceuticals | ||
| Jazz Securities DAC | ||
| 4.375%, due 1/15/29 (a) | $ 59,385,000 | $ 58,429,970 |
| Organon & Co. (a) | ||
| 4.125%, due 4/30/28 | 38,025,000 | 37,295,661 |
| 5.125%, due 4/30/31 | 54,405,000 | 49,408,064 |
| 247,895,249 | ||
| Pipelines 4.5% | ||
| Antero Midstream Partners LP | ||
| 5.75%, due 1/15/28 (a) | 14,995,000 | 15,000,953 |
| Buckeye Partners LP (a) | ||
| 6.75%, due 2/1/30 | 7,500,000 | 7,858,260 |
| 6.875%, due 7/1/29 | 17,708,000 | 18,409,839 |
| Energy Transfer LP | ||
| 4.40%, due 3/15/27 | 8,000,000 | 8,027,984 |
| 4.95%, due 5/15/28 | 11,000,000 | 11,178,078 |
| Excelerate Energy LP | ||
| 8.00%, due 5/15/30 (a) | 28,625,000 | 30,611,031 |
| Genesis Energy LP | ||
| 7.75%, due 2/1/28 | 27,165,000 | 27,281,837 |
| Global Partners LP | ||
| 7.125%, due 7/1/33 (a) | 4,585,000 | 4,696,448 |
| Harvest Midstream I LP (a) | ||
| 7.50%, due 9/1/28 | 26,675,000 | 27,041,594 |
| 7.50%, due 5/15/32 | 5,000,000 | 5,222,520 |
| Hess Midstream Operations LP (a) | ||
| 5.50%, due 10/15/30 | 11,450,000 | 11,570,763 |
| 5.875%, due 3/1/28 | 10,000,000 | 10,189,730 |
| 6.50%, due 6/1/29 | 7,500,000 | 7,762,530 |
| ITT Holdings LLC | ||
| 6.50%, due 8/1/29 (a) | 27,870,000 | 26,869,222 |
| NuStar Logistics LP | ||
| 6.00%, due 6/1/26 | 16,000,000 | 16,020,928 |
| Plains All American Pipeline LP | ||
| Series B | ||
| 8.223% (3 Month SOFR + 4.372%), due 11/15/2174 (e)(g) | 45,303,000 | 45,218,596 |
| Prairie Acquiror LP | ||
| 9.00%, due 8/1/29 (a) | 21,250,000 | 22,040,521 |
| Rockies Express Pipeline LLC (a) | ||
| 4.80%, due 5/15/30 | 2,500,000 | 2,463,543 |
| 4.95%, due 7/15/29 | 8,250,000 | 8,224,367 |
| South Bow Canadian Infrastructure Holdings Ltd. | ||
| 7.625% (5 Year Treasury Constant Maturity Rate + 3.949%), due 3/1/55 (e) | 10,000,000 | 10,424,780 |
| Tallgrass Energy Partners LP (a) | ||
| 5.50%, due 1/15/28 | 12,500,000 | 12,495,684 |
| 6.75%, due 3/15/34 | 11,450,000 | 11,652,791 |
| 7.375%, due 2/15/29 | 29,250,000 | 30,322,656 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Pipelines | ||
| TransMontaigne Partners LLC | ||
| 8.50%, due 6/15/30 (a) | $ 14,490,000 | $ 15,032,192 |
| Venture Global LNG, Inc. (a) | ||
| 8.125%, due 6/1/28 | 14,110,000 | 14,444,367 |
| 8.375%, due 6/1/31 | 21,500,000 | 21,990,522 |
| 9.50%, due 2/1/29 | 16,865,000 | 17,959,033 |
| Venture Global Plaquemines LNG LLC (a) | ||
| 6.125%, due 12/15/30 | 5,560,000 | 5,722,919 |
| 6.50%, due 1/15/34 | 19,815,000 | 20,563,974 |
| 6.50%, due 6/15/34 | 7,500,000 | 7,767,224 |
| 6.75%, due 1/15/36 | 9,495,000 | 9,953,228 |
| 7.50%, due 5/1/33 | 1,500,000 | 1,644,552 |
| Western Midstream Operating LP | ||
| 4.65%, due 7/1/26 | 5,000,000 | 5,004,961 |
| 4.75%, due 8/15/28 | 12,000,000 | 12,151,888 |
| 502,819,515 | ||
| Real Estate Investment Trusts 1.7% | ||
| Blackstone Mortgage Trust, Inc. | ||
| 7.75%, due 12/1/29 (a) | 12,200,000 | 13,077,424 |
| CTR Partnership LP | ||
| 3.875%, due 6/30/28 (a) | 9,000,000 | 8,832,604 |
| Millrose Properties, Inc. (a) | ||
| 6.25%, due 9/15/32 | 11,115,000 | 11,240,366 |
| 6.375%, due 8/1/30 | 18,415,000 | 18,795,914 |
| MPT Operating Partnership LP | ||
| 4.625%, due 8/1/29 | 7,485,000 | 6,417,445 |
| 5.00%, due 10/15/27 | 20,640,000 | 20,180,758 |
| 8.50%, due 2/15/32 (a) | 13,250,000 | 14,195,480 |
| RHP Hotel Properties LP | ||
| 4.50%, due 2/15/29 (a) | 10,000,000 | 9,855,233 |
| 4.75%, due 10/15/27 | 28,050,000 | 28,027,709 |
| 6.50%, due 4/1/32 (a) | 13,000,000 | 13,443,963 |
| 6.50%, due 6/15/33 (a) | 10,460,000 | 10,842,752 |
| 7.25%, due 7/15/28 (a) | 8,660,000 | 8,916,163 |
| Starwood Property Trust, Inc. | ||
| 5.75%, due 1/15/31 (a) | 13,600,000 | 13,770,925 |
| Vornado Realty LP | ||
| 5.75%, due 2/1/33 | 17,215,000 | 17,411,798 |
| 195,008,534 | ||
| Retail 4.6% | ||
| 1011778 B.C. Unlimited Liability Co. (a) | ||
| 3.875%, due 1/15/28 | 19,585,000 | 19,292,821 |
| 4.00%, due 10/15/30 | 55,052,000 | 52,526,562 |
| 5.625%, due 9/15/29 | 11,000,000 | 11,186,142 |
| 6.125%, due 6/15/29 | 19,500,000 | 19,990,763 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Retail | ||
| Asbury Automotive Group, Inc. | ||
| 4.50%, due 3/1/28 | $ 23,137,000 | $ 23,057,069 |
| 4.75%, due 3/1/30 | 18,525,000 | 18,238,240 |
| 5.00%, due 2/15/32 (a) | 14,110,000 | 13,712,119 |
| Cougar JV Subsidiary LLC | ||
| 8.00%, due 5/15/32 (a) | 9,250,000 | 9,884,707 |
| Group 1 Automotive, Inc. (a) | ||
| 4.00%, due 8/15/28 | 9,500,000 | 9,290,270 |
| 6.375%, due 1/15/30 | 4,035,000 | 4,142,012 |
| Ken Garff Automotive LLC | ||
| 4.875%, due 9/15/28 (a) | 31,855,000 | 31,636,131 |
| KFC Holding Co. | ||
| 4.75%, due 6/1/27 (a) | 18,287,000 | 18,314,504 |
| LCM Investments Holdings II LLC (a) | ||
| 4.875%, due 5/1/29 | 48,000,000 | 47,298,461 |
| 8.25%, due 8/1/31 | 17,300,000 | 18,224,806 |
| Murphy Oil USA, Inc. | ||
| 4.75%, due 9/15/29 | 7,500,000 | 7,463,296 |
| 5.625%, due 5/1/27 | 16,817,000 | 16,824,097 |
| Papa John's International, Inc. | ||
| 3.875%, due 9/15/29 (a) | 21,634,000 | 20,657,281 |
| PetSmart LLC | ||
| 7.50%, due 9/15/32 (a) | 7,000,000 | 7,178,227 |
| QXO Building Products, Inc. | ||
| 6.75%, due 4/30/32 (a) | 17,300,000 | 17,827,304 |
| Sonic Automotive, Inc. | ||
| 4.875%, due 11/15/31 (a) | 13,120,000 | 12,650,465 |
| Yum! Brands, Inc. | ||
| 3.625%, due 3/15/31 | 40,870,000 | 38,636,381 |
| 4.625%, due 1/31/32 | 46,500,000 | 45,466,282 |
| 4.75%, due 1/15/30 (a) | 19,935,000 | 19,886,071 |
| 5.375%, due 4/1/32 | 30,000,000 | 30,385,230 |
| 513,769,241 | ||
| Semiconductors 0.1% | ||
| Amkor Technology, Inc. | ||
| 5.875%, due 10/1/33 (a) | 14,700,000 | 14,980,829 |
| Software 2.9% | ||
| Cloud Software Group, Inc. (a) | ||
| 6.50%, due 3/31/29 | 36,355,000 | 36,128,419 |
| 6.625%, due 8/15/33 | 15,000,000 | 14,378,797 |
| 8.25%, due 6/30/32 | 6,000,000 | 6,102,498 |
| 9.00%, due 9/30/29 | 16,630,000 | 16,792,497 |
| Fair Isaac Corp. (a) | ||
| 5.25%, due 5/15/26 | 11,250,000 | 11,238,910 |
| 6.00%, due 5/15/33 | 22,300,000 | 22,722,250 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Software | ||
| MSCI, Inc. (a) | ||
| 3.625%, due 9/1/30 | $ 5,000,000 | $ 4,778,981 |
| 3.875%, due 2/15/31 | 5,500,000 | 5,278,378 |
| Open Text Corp. (a) | ||
| 3.875%, due 2/15/28 | 20,685,000 | 20,023,314 |
| 6.90%, due 12/1/27 | 11,340,000 | 11,708,850 |
| Open Text Holdings, Inc. (a) | ||
| 4.125%, due 2/15/30 | 37,897,000 | 35,202,906 |
| 4.125%, due 12/1/31 | 10,000,000 | 8,983,696 |
| PTC, Inc. | ||
| 4.00%, due 2/15/28 (a) | 36,369,000 | 35,839,045 |
| SS&C Technologies, Inc. (a) | ||
| 5.50%, due 9/30/27 | 27,745,000 | 27,720,995 |
| 6.50%, due 6/1/32 | 20,500,000 | 21,164,692 |
| UKG, Inc. | ||
| 6.875%, due 2/1/31 (a) | 44,500,000 | 44,464,129 |
| 322,528,357 | ||
| Telecommunications 2.9% | ||
| Bell Canada | ||
| 6.875% (5 Year Treasury Constant Maturity Rate + 2.39%), due 9/15/55 (e) | 6,500,000 | 6,734,442 |
| Cipher Compute LLC | ||
| 7.125%, due 11/15/30 (a) | 27,180,000 | 28,006,571 |
| Connect Finco SARL | ||
| 9.00%, due 9/15/29 (a) | 5,250,000 | 5,572,177 |
| EchoStar Corp. | ||
| 6.75% (6.75% PIK), due 11/30/30 (b) | 23,846,250 | 24,269,235 |
| 10.75%, due 11/30/29 | 22,605,000 | 24,780,053 |
| Frontier Communications Holdings LLC (a) | ||
| 5.00%, due 5/1/28 | 8,000,000 | 8,000,264 |
| 8.625%, due 3/15/31 | 26,195,000 | 27,386,768 |
| Iliad Holding SAS (a) | ||
| 7.00%, due 4/15/32 | 12,530,000 | 12,842,749 |
| 8.50%, due 4/15/31 | 10,000,000 | 10,708,200 |
| Rogers Communications, Inc. (e) | ||
| Series NC5 | ||
| 7.00% (5 Year Treasury Constant Maturity Rate + 2.653%), due 4/15/55 | 22,295,000 | 23,125,979 |
| 7.125% (5 Year Treasury Constant Maturity Rate + 2.62%), due 4/15/55 | 16,675,000 | 17,486,193 |
| Sprint Capital Corp. | ||
| 6.875%, due 11/15/28 | 19,570,000 | 20,995,418 |
| TELUS Corp. (e) | ||
| 6.375% (5 Year Treasury Constant Maturity Rate + 2.694%), due 6/9/56 | 11,070,000 | 11,184,408 |
| 6.625% (5 Year Treasury Constant Maturity Rate + 2.769%), due 10/15/55 | 16,500,000 | 16,875,045 |
| 6.625% (5 Year Treasury Constant Maturity Rate + 2.515%), due 6/9/56 | 5,315,000 | 5,338,752 |
| Uniti Group LP (a) | ||
| 4.75%, due 4/15/28 | 15,060,000 | 15,027,269 |
| 6.50%, due 2/15/29 | 16,085,000 | 15,644,038 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Telecommunications | ||
| VMED O2 UK Financing I plc (a) | ||
| 6.75%, due 1/15/33 | $ 10,500,000 | $ 10,239,181 |
| 7.75%, due 4/15/32 | 7,500,000 | 7,712,962 |
| Windstream Services LLC | ||
| 8.25%, due 10/1/31 (a) | 28,320,000 | 29,665,908 |
| 321,595,612 | ||
| Toys, Games & Hobbies 0.1% | ||
| Mattel, Inc. | ||
| 5.875%, due 12/15/27 (a) | 7,000,000 | 7,002,787 |
| Transportation 1.3% | ||
| Clue Opco LLC | ||
| 9.50%, due 10/15/31 (a) | 14,830,000 | 15,722,558 |
| Seaspan Corp. | ||
| 5.50%, due 8/1/29 (a) | 24,865,000 | 23,648,279 |
| Star Leasing Co. LLC | ||
| 7.625%, due 2/15/30 (a) | 52,660,000 | 50,395,383 |
| Watco Cos. LLC | ||
| 7.125%, due 8/1/32 (a) | 50,350,000 | 52,781,402 |
| 142,547,622 | ||
| Total Corporate Bonds (Cost $9,706,804,811) | 9,683,098,435 | |
| Foreign Government Bond 0.0% ‡ | ||
| France 0.0% ‡ | ||
| Electricite de France SA | ||
| 9.125% (5 Year Treasury Constant Maturity Rate + 5.411%), due 3/15/33 (a)(e)(g) | 3,325,000 | 3,935,573 |
| Total Foreign Government Bond (Cost $3,776,528) | 3,935,573 | |
| Loan Assignments 6.5% | ||
| Aerospace & Defense 0.1% | ||
| Chromalloy Corp. | ||
| First Lien Term Loan | ||
| 6.911% (3 Month SOFR + 3.25%), due 3/27/31 (e) | 11,967,185 | 11,952,226 |
| Automobile 0.3% | ||
| Clarios Global LP | ||
| First Lien Amendment No. 6 Dollar Term Loan | ||
| 6.422% (1 Month SOFR + 2.75%), due 1/28/32 (e) | 12,867,750 | 12,875,792 |
| Tenneco, Inc. | ||
| First Lien Term Loan B 8.772% - 8.989% | ||
| (3 Month SOFR + 5.00%), due 11/17/28 (e) | 20,550,000 | 20,298,838 |
| 33,174,630 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Beverage, Food & Tobacco 0.2% | ||
| B&G Foods, Inc. | ||
| First Lien Tranche Term Loan B5 | ||
| 7.172% (1 Month SOFR + 3.50%), due 10/10/29 (e) | $ 14,438,447 | $ 13,656,359 |
| Clover Holdings 2 LLC | ||
| First Lien Initial Floating Rate Term Loan | ||
| 7.674% (1 Month SOFR + 4.00%), due 12/9/31 (e) | 7,612,550 | 7,431,752 |
| 21,088,111 | ||
| Broadcasting & Entertainment 0.0% ‡ | ||
| Gray Media, Inc. | ||
| First Lien Term Loan D | ||
| 6.814% (1 Month SOFR + 3.00%), due 12/1/28 (e) | 4,007,861 | 3,981,809 |
| Gray Television, Inc. | ||
| First Lien Term Loan B | ||
| 8.95% (1 Month SOFR + 5.25%), due 5/23/29 (e) | 261,433 | 261,025 |
| 4,242,834 | ||
| Capital Equipment 0.5% | ||
| EMRLD Borrower LP | ||
| First Lien Second Amendment Incremental Term Loan | ||
| 6.122% (6 Month SOFR + 2.25%), due 8/4/31 (e) | 10,764,159 | 10,741,177 |
| TK Elevator Midco GmbH | ||
| First Lien Term Loan B1 | ||
| 6.947% (6 Month SOFR + 2.75%), due 4/30/30 (e) | 41,475,928 | 41,527,774 |
| 52,268,951 | ||
| Cargo Transport 0.1% | ||
| Clue Opco LLC | ||
| First Lien Term Loan B | ||
| 8.167% (3 Month SOFR + 4.50%), due 12/19/30 (e) | 8,649,222 | 8,605,976 |
| NA Rail Hold Co. LLC | ||
| First Lien Tranche Term Loan B3 | ||
| 6.738% (3 Month SOFR + 3.00%), due 3/8/32 (e) | 7,462,500 | 7,469,500 |
| 16,075,476 | ||
| Chemicals 0.2% | ||
| ASP Unifrax Holdings, Inc. | ||
| First Lien Term Loan | ||
| 11.75% (4.75% PIK) (3 Month SOFR + 7.75%), due 9/28/29 (b)(e) | 26,335,132 | 20,047,619 |
| Chemicals, Plastics & Rubber 0.3% | ||
| Innophos Holdings, Inc. | ||
| First Lien Initial Term Loan | ||
| 8.036% (1 Month SOFR + 4.25%), due 3/16/29 (e) | 10,856,021 | 10,530,341 |
| Jazz Financing Lux SARL | ||
| First Lien Dollar Tranche Term Loan B2 | ||
| 5.922% (1 Month SOFR + 2.25%), due 5/5/28 (e) | 20,718,225 | 20,777,085 |
| 31,307,426 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Electronics 0.2% | ||
| Camelot US Acquisition LLC (e) | ||
| First Lien Incremental Term Loan B | ||
| 6.422% (1 Month SOFR + 2.75%), due 1/31/31 | $ 11,023,603 | $ 10,279,509 |
| First Lien Incremental Term Loan | ||
| 6.922% (1 Month SOFR + 3.25%), due 1/31/31 | 10,000,000 | 9,433,330 |
| Proofpoint, Inc. | ||
| First Lien 2024 Refinancing Term Loan | ||
| 6.672% (3 Month SOFR + 3.00%), due 8/31/28 (e) | 2,062,171 | 2,025,568 |
| 21,738,407 | ||
| Energy (Electricity) 0.4% | ||
| BCP VI Summit Holdings LP | ||
| First Lien Initial Term Loan | ||
| 6.70% (1 Month SOFR + 3.00%), due 1/30/32 (e) | 13,930,000 | 13,903,881 |
| Lightning Power LLC | ||
| First Lien Initial Term Loan B | ||
| 5.922% (1 Month SOFR + 2.25%), due 8/18/31 (e) | 9,875,000 | 9,882,544 |
| Talen Energy Supply LLC (e) | ||
| First Lien Initial Term Loan B | ||
| 6.353% (3 Month SOFR + 2.50%), due 5/17/30 | 5,816,571 | 5,820,207 |
| First Lien 2024-1 Incremental Term Loan B | ||
| 6.353% (3 Month SOFR + 2.50%), due 12/11/31 | 13,365,000 | 13,365,000 |
| 42,971,632 | ||
| Entertainment 0.0% ‡ | ||
| Sterling Entertainment Enterprises LLC | ||
| Second Lien Initial Term Loan | ||
| 10.25% (17.75% PIK), due 4/10/26 (b)(f) | 22,078,641 | 4,451,453 |
| Finance 0.6% | ||
| Arches Buyer, Inc. | ||
| First Lien New Term Loan | ||
| 7.022% (1 Month SOFR + 3.25%), due 12/6/27 (e) | 14,074,582 | 14,004,210 |
| Belron Finance 2019 LLC | ||
| First Lien 2031 Dollar Incremental Term Loan | ||
| 6.12% (3 Month SOFR + 2.25%), due 10/16/31 (e) | 7,467,973 | 7,477,307 |
| Blackstone Mortgage Trust, Inc. | ||
| First Lien Term Loan | ||
| 6.172% (1 Month SOFR + 2.50%), due 12/10/30 (e) | 1,323,982 | 1,325,637 |
| Osaic Holdings, Inc. | ||
| First Lien Initial Term Loan | ||
| 6.595% (6 Month SOFR + 3.00%), due 8/2/32 (e) | 15,000,000 | 14,862,495 |
| RealTruck Group, Inc. (e) | ||
| First Lien Initial Term Loan | ||
| 7.536% (1 Month SOFR + 3.75%), due 1/31/28 | 21,172,367 | 16,395,352 |
| First Lien Second Amendment Incremental Term Loan | ||
| 8.786% (1 Month SOFR + 5.00%), due 1/31/28 | 15,046,851 | 11,711,461 |
| 65,776,462 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Healthcare & Pharmaceuticals 0.1% | ||
| 1261229 BC Ltd. | ||
| First Lien Initial Term Loan | ||
| 9.922% (1 Month SOFR + 6.25%), due 10/8/30 (e) | $ 15,248,375 | $ 14,848,105 |
| Healthcare, Education & Childcare 0.4% | ||
| Endo Finance Holdings LP | ||
| First Lien 2024 Refinancing Term Loan | ||
| 7.422% (1 Month SOFR + 3.75%), due 4/23/31 (e) | 20,951,571 | 20,947,821 |
| LifePoint Health, Inc. | ||
| First Lien Term Loan B1 | ||
| 7.422% (3 Month SOFR + 3.75%), due 5/19/31 (e) | 24,900,084 | 24,865,074 |
| 45,812,895 | ||
| High Tech Industries 0.1% | ||
| Aretec Group, Inc. | ||
| First Lien Term Loan B4 | ||
| 6.672% (1 Month SOFR + 3.00%), due 8/9/30 (e) | 15,192,030 | 15,137,779 |
| Hotels, Motels, Inns & Gaming 0.1% | ||
| Caesars Entertainment, Inc. | ||
| First Lien Term Loan B1 | ||
| 5.922% (1 Month SOFR + 2.25%), due 2/6/31 (e) | 8,842,500 | 8,771,760 |
| Machinery (Non-Agriculture, Non-Construct & Non-Electronic) 0.1% | ||
| Columbus McKinnon Corp. | ||
| First Lien Term Loan B | ||
| 7.17% (1 Year SOFR + 3.50%), due 2/3/33 (e) | 10,000,000 | 9,943,750 |
| Media 0.3% | ||
| Block Communications, Inc. | ||
| First Lien Term Loan | ||
| 6.081% (1 Month SOFR + 2.25%), due 2/25/27 (e) | 6,981,482 | 6,850,579 |
| DIRECTV Financing LLC | ||
| First Lien 2024 Refinancing Term Loan B | ||
| 9.178% (3 Month SOFR + 5.25%), due 8/2/29 (e) | 32,548,756 | 32,537,136 |
| 39,387,715 | ||
| Mining, Steel, Iron & Non-Precious Metals 0.3% | ||
| American Rock Salt Co. LLC (e) | ||
| First Lien First Out Term Loan 10.966% - 11.084% | ||
| (3 Month SOFR + 7.00%), due 6/11/28 | 9,853,754 | 9,878,389 |
| First Lien Initial Term Loan | ||
| 8.084% (3 Month SOFR + 4.00%), due 6/9/28 | 25,782,375 | 21,764,630 |
| 31,643,019 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Oil & Gas 0.4% | ||
| New Fortress Energy, Inc. | ||
| First Lien Second Amendment Term Loan | ||
| 9.658% (1 Year SOFR + 5.50%), due 10/30/28 (e) | $ 36,986,638 | $ 14,116,579 |
| PetroQuest Energy LLC (b)(f) | ||
| First Lien Term Loan | ||
| 13.25% (13.75% PIK) (PRIME + 6.50%), due 6/30/26 (e) | 32,596,244 | 325,962 |
| First Lien 2020 Term Loan | ||
| 13.75% (14.00% PIK), due 9/19/26 | 1,178,727 | 1,178,727 |
| Prairie Acquiror LP | ||
| First Lien Term Loan B4 | ||
| 7.466% (1 Month SOFR + 3.75%), due 8/1/29 (e) | 10,317,298 | 10,330,195 |
| TransMontaigne Operating Co. LP | ||
| First Lien Tranche Term Loan B | ||
| 6.172% (1 Month SOFR + 2.50%), due 11/17/28 (e) | 15,168,495 | 15,160,365 |
| 41,111,828 | ||
| Personal, Food & Miscellaneous Services 0.0% ‡ | ||
| WW International, Inc. | ||
| First Lien Initial Term Loan | ||
| 10.489% (3 Month SOFR + 6.80%), due 6/24/30 (e) | 6,038,716 | 5,340,490 |
| Retail 1.1% | ||
| C&S Wholesale Grocers, Inc. | ||
| First Lien Initial Term Loan | ||
| 8.672% (3 Month SOFR + 5.00%), due 8/6/30 (e) | 22,044,750 | 21,493,631 |
| Great Outdoors Group LLC | ||
| First Lien Term Loan B | ||
| 6.922% (1 Month SOFR + 3.25%), due 1/23/32 (e) | 98,076,877 | 98,076,877 |
| 119,570,508 | ||
| Retail Store 0.1% | ||
| PetSmart LLC | ||
| First Lien Initial Term Loan | ||
| 7.671% (1 Month SOFR + 4.00%), due 8/18/32 (e) | 12,200,000 | 12,149,163 |
| Services: Business 0.2% | ||
| Amentum Holdings, Inc. | ||
| First Lien Initial Term Loan | ||
| 5.672% (1 Month SOFR + 2.00%), due 9/29/31 (e) | 7,416,750 | 7,418,604 |
| Dynamo US Bidco, Inc. | ||
| First Lien Term Loan B | ||
| 6.938% (1 Month SOFR + 3.25%), due 9/30/31 (e) | 7,854,050 | 7,858,959 |
| Orion US Finco, Inc. | ||
| First Lien Initial Term Loan | ||
| 7.15% (3 Month SOFR + 3.50%), due 10/8/32 (e) | 5,700,000 | 5,697,150 |
| 20,974,713 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Software 0.4% | ||
| Cloud Software Group, Inc. (e) | ||
| First Lien Incremental Term Loan B | ||
| 6.922% (3 Month SOFR + 3.25%), due 3/21/31 | $ 9,960,153 | $ 9,631,469 |
| First Lien Initial Dollar Term Loan B | ||
| 6.922% (3 Month SOFR + 3.25%), due 8/16/32 | 22,344,436 | 21,562,380 |
| McAfee Corp. | ||
| First Lien Tranche Term Loan B1 | ||
| 6.672% (1 Month SOFR + 3.00%), due 3/1/29 (e) | 11,178,568 | 9,683,434 |
| 40,877,283 | ||
| Total Loan Assignments (Cost $814,364,345) | 730,664,235 | |
| Total Long-Term Bonds (Cost $10,576,433,846) | 10,462,071,543 | |
| Shares | ||
| Common Stocks 0.8% | ||
| Electric Utilities 0.1% | ||
| Keycon Power Holdings LLC (f)(j) | 385,976 | 14,161,459 |
| Electrical Equipment 0.1% | ||
| Energy Technologies, Inc. (f)(j) | 16,724 | 7,325,112 |
| Entertainment 0.0% ‡ | ||
| Warner Bros Discovery, Inc. (j) | 161,000 | 4,433,940 |
| Independent Power and Renewable Electricity Producers 0.1% | ||
| GenOn Energy, Inc. (i)(j) | 386,241 | 12,552,833 |
| Oil, Gas & Consumable Fuels 0.3% | ||
| Gulfport Energy Corp. (j) | 62,223 | 12,704,070 |
| PetroQuest Energy, Inc. (f)(j) | 284,709 | — |
| Talos Energy, Inc. (j) | 1,821,793 | 21,715,773 |
| 34,419,843 | ||
| Pharmaceuticals 0.2% | ||
| Keenova Therapeutics plc (j) | 168,818 | 16,020,828 |
| Total Common Stocks (Cost $155,326,590) | 88,914,015 | |
| Preferred Stocks 0.4% | ||
| Electrical Equipment 0.4% | ||
| Energy Technologies Ltd. (f)(j) | 37,258 | 40,983,800 |
| Shares | Value | ||
| Preferred Stocks | |||
| Pharmaceuticals 0.0% ‡ | |||
| Par Health, Inc. (j) | 168,818 | $ 1,403,384 | |
| Total Preferred Stocks (Cost $37,073,027) | 42,387,184 | ||
| Exchange-Traded Funds 0.4% | |||
| iShares Gold Trust (j) | 452,000 | 41,222,400 | |
| SPDR Gold Shares (j) | 15,336 | 6,823,753 | |
| Total Exchange-Traded Funds (Cost $13,331,696) | 48,046,153 | ||
| Total Investments (Cost $10,782,165,159) | 94.7% | 10,641,418,895 | |
| Other Assets, Less Liabilities | 5.3 | 592,067,732 | |
| Net Assets | 100.0% | $ 11,233,486,627 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (c) | Delayed delivery security. |
| (d) | Step coupon—Rate shown was the rate in effect as of January 31, 2026. |
| (e) | Floating rate—Rate shown was the rate in effect as of January 31, 2026. |
| (f) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (g) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (h) | Issue in non-accrual status. |
| (i) | Restricted security. |
| (j) | Non-income producing security. |
| Abbreviation(s): |
| SARL—Société À Responsabilité Limitée |
| SOFR—Secured Overnight Financing Rate |
| SPDR—Standard & Poor’s Depositary Receipt |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Long-Term Bonds | |||||||
| Convertible Bonds | $ — | $ 44,373,300 | $ — | $ 44,373,300 | |||
| Corporate Bonds | — | 9,678,792,105 | 4,306,330 | 9,683,098,435 | |||
| Foreign Government Bond | — | 3,935,573 | — | 3,935,573 | |||
| Loan Assignments | — | 724,708,093 | 5,956,142 | 730,664,235 | |||
| Total Long-Term Bonds | — | 10,451,809,071 | 10,262,472 | 10,462,071,543 | |||
| Common Stocks | 54,874,611 | 12,552,833 | 21,486,571 | 88,914,015 | |||
| Preferred Stocks | 1,403,384 | — | 40,983,800 | 42,387,184 | |||
| Exchange-Traded Funds | 48,046,153 | — | — | 48,046,153 | |||
| Total Investments in Securities | $ 104,324,148 | $ 10,464,361,904 | $ 72,732,843 | $ 10,641,418,895 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| Principal Amount | Value | |
| Municipal Bonds 99.1% | ||
| Long-Term Municipal Bonds 96.2% | ||
| Alabama 5.1% | ||
| Alabama Housing Finance Authority, Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 4/1/55 | $ 8,770,000 | $ 9,688,813 |
| Black Belt Energy Gas District, Gas Project, Revenue Bonds | ||
| Series B | ||
| 2.93%, due 4/1/53 | 34,600,000 | 34,224,279 |
| Series D-1 | ||
| 4.00%, due 7/1/52 (a) | 6,300,000 | 6,381,031 |
| Series B-1 | ||
| 4.00%, due 4/1/53 (a) | 19,350,000 | 19,647,448 |
| Series D-3 | ||
| 4.302%, due 6/1/49 | 9,250,000 | 9,483,539 |
| Series B | ||
| 5.00%, due 10/1/35 | 8,500,000 | 8,870,201 |
| Series F | ||
| 5.00%, due 12/1/35 | 15,000,000 | 16,203,111 |
| Series E | ||
| 5.00%, due 12/1/55 (a) | 16,250,000 | 17,437,963 |
| Series B-2 | ||
| 5.25%, due 12/1/53 (a) | 12,620,000 | 13,613,088 |
| Series A | ||
| 5.25%, due 5/1/55 (a) | 14,295,000 | 15,430,130 |
| Series D-1 | ||
| 5.50%, due 6/1/49 (a) | 5,805,000 | 6,158,266 |
| Black Belt Energy Gas District, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 12/1/34 | 20,800,000 | 22,628,676 |
| Series C-1 | ||
| 5.25%, due 2/1/53 (a) | 5,550,000 | 5,852,895 |
| City of Gadsden, Unlimited General Obligation | ||
| Series A, Insured: BAM | ||
| 5.00%, due 10/1/50 | 1,405,000 | 1,466,609 |
| Energy Southeast, A Cooperative District Energy Supply, Revenue Bonds | ||
| Series B-2 | ||
| 4.652%, due 4/1/54 | 20,000,000 | 20,478,068 |
| Series B | ||
| 5.25%, due 7/1/54 (a) | 60,255,000 | 65,409,918 |
| Series B-1 | ||
| 5.75%, due 4/1/54 (a) | 16,850,000 | 18,614,342 |
| Lower Alabama Gas District (The), Gas Project, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 9/1/46 | 20,795,000 | 21,985,281 |
| Southeast Alabama Gas Supply District (The), Revenue Bonds (a) | ||
| Series B | ||
| 5.00%, due 6/1/49 | 3,015,000 | 3,229,372 |
| Series A | ||
| 5.00%, due 8/1/54 | 5,670,000 | 6,082,529 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Alabama | ||
| Southeast Energy Authority A Cooperative District, Project No. 2, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 12/1/51 (a) | $ 14,815,000 | $ 14,946,332 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 11/1/35 | 25,250,000 | 26,901,764 |
| Series C | ||
| 5.00%, due 5/1/55 (a) | 45,320,000 | 48,479,316 |
| Series C | ||
| 5.00%, due 10/1/55 (a) | 12,855,000 | 13,879,894 |
| Series A | ||
| 5.00%, due 1/1/56 (a) | 10,985,000 | 11,444,710 |
| Series B | ||
| 5.25%, due 3/1/55 (a) | 9,030,000 | 9,562,212 |
| Southeast Energy Authority A Cooperative District, Project No. 4, Revenue Bonds | ||
| Series B-1 | ||
| 5.00%, due 5/1/53 (a) | 25,185,000 | 26,231,439 |
| 474,331,226 | ||
| Alaska 0.2% | ||
| Alaska Housing Finance Corp., General Mortgage, Revenue Bonds | ||
| Series C-II, Insured: GNMA / FNMA / FHLMC | ||
| 5.75%, due 12/1/52 | 4,780,000 | 5,068,310 |
| Alaska Industrial Development & Export Authority, Greater Fairbanks Community Hospital Foundation Obligated Group, Revenue Bonds | ||
| 5.00%, due 4/1/32 | 3,050,000 | 3,058,763 |
| Alaska Municipal Bond Bank Authority, Master Resolution, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 10/1/42 | 6,000,000 | 6,204,915 |
| Municipality of Anchorage, Unlimited General Obligation | ||
| Series B | ||
| 5.00%, due 9/1/26 | 5,340,000 | 5,346,270 |
| State of Alaska, International Airports System, Revenue Bonds | ||
| Series C | ||
| 5.00%, due 10/1/27 (b) | 3,000,000 | 3,113,631 |
| 22,791,889 | ||
| Arizona 1.0% | ||
| Arizona Board of Regents, Arizona State University, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 7/1/48 | 7,500,000 | 8,082,352 |
| Chandler Industrial Development Authority, Intel Corp. Project, Revenue Bonds (a)(b) | ||
| 4.00%, due 6/1/49 | 11,100,000 | 11,326,226 |
| Series 1 | ||
| 5.00%, due 9/1/42 | 10,180,000 | 10,388,207 |
| Coconino County Unified School District No. 1, Flagstaff, Unlimited General Obligation | ||
| Series B | ||
| 1.75%, due 7/1/35 | 2,375,000 | 2,008,663 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Arizona | ||
| Coconino County Unified School District No. 1, Flagstaff, Unlimited General Obligation | ||
| Series B | ||
| 1.75%, due 7/1/36 | $ 2,760,000 | $ 2,267,257 |
| Gilbert Water Resource Municipal Property Corp., Waterworks & Sewer System, Revenue Bonds, Senior Lien | ||
| 4.00%, due 7/15/40 | 23,480,000 | 24,289,769 |
| 4.00%, due 7/15/41 | 7,915,000 | 8,165,190 |
| Maricopa County & Phoenix Industrial Development Authorities, Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 3/1/55 | 5,335,000 | 5,899,901 |
| Maricopa County Industrial Development Authority, Banner Health, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 1/1/41 | 8,000,000 | 7,937,899 |
| Maricopa County Pollution Control Corp., Public Service Co. of New Mexico, Revenue Bonds | ||
| Series A | ||
| 0.875%, due 6/1/43 (a) | 3,855,000 | 3,788,677 |
| Salt River Project Agricultural Improvement & Power District, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 1/1/45 | 5,000,000 | 5,416,947 |
| 89,571,088 | ||
| Arkansas 0.4% | ||
| Arkansas Development Finance Authority, Revenue Bonds | ||
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 5.00%, due 1/1/55 | 3,875,000 | 4,138,794 |
| Fayetteville School District No. 1, Limited General Obligation | ||
| Insured: State Aid Withholding | ||
| 2.125%, due 6/1/32 | 3,210,000 | 3,023,725 |
| Hot Springs School District No. 6, Limited General Obligation | ||
| Insured: State Aid Withholding | ||
| 2.50%, due 6/1/40 | 3,485,000 | 2,835,819 |
| Little Rock School District, Limited General Obligation | ||
| Series A, Insured: BAM State Aid Withholding | ||
| 3.00%, due 2/1/46 | 15,230,000 | 11,836,464 |
| North Little Rock School District No. 1, Limited General Obligation | ||
| Insured: State Aid Withholding | ||
| 2.00%, due 2/1/42 | 10,625,000 | 7,564,418 |
| Insured: State Aid Withholding | ||
| 2.00%, due 2/1/43 | 9,875,000 | 6,859,697 |
| Springdale School District No. 50, Limited General Obligation | ||
| Series A, Insured: State Aid Withholding | ||
| 2.50%, due 6/1/40 | 3,380,000 | 2,762,385 |
| 39,021,302 | ||
| California 13.8% | ||
| Alameda Corridor Transportation Authority, Revenue Bonds | ||
| Series A, Insured: NATL-RE | ||
| (zero coupon), due 10/1/34 | 5,095,000 | 3,875,908 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| Alameda Corridor Transportation Authority, Revenue Bonds | ||
| Series A, Insured: NATL-RE | ||
| (zero coupon), due 10/1/36 | $ 14,420,000 | $ 10,022,387 |
| Series C, Insured: AG | ||
| (zero coupon), due 10/1/52 (c) | 7,000,000 | 4,053,601 |
| Alameda Corridor Transportation Authority, Revenue Bonds, Senior Lien | ||
| Series A, Insured: BAM | ||
| (zero coupon), due 10/1/48 (c) | 6,000,000 | 3,529,561 |
| Allan Hancock Joint Community College District, Election of 2006, Unlimited General Obligation | ||
| Series C | ||
| (zero coupon), due 8/1/44 (c) | 8,500,000 | 6,602,439 |
| Antelope Valley Community College District, Election of 2016, Unlimited General Obligation | ||
| Series B | ||
| 3.00%, due 8/1/50 | 3,750,000 | 2,836,691 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Revenue Bonds, Senior Lien (b) | ||
| Series B | ||
| 5.00%, due 7/1/32 | 6,250,000 | 7,046,324 |
| Series B | ||
| 5.00%, due 7/1/34 | 5,000,000 | 5,747,834 |
| Series B | ||
| 5.00%, due 7/1/35 | 5,000,000 | 5,704,450 |
| Series B | ||
| 5.00%, due 7/1/36 | 5,345,000 | 6,042,644 |
| Series B | ||
| 5.00%, due 7/1/38 | 7,570,000 | 8,428,140 |
| California Community Choice Financing Authority, Revenue Bonds | ||
| Series A-2 | ||
| 3.902%, due 4/1/56 | 29,050,000 | 29,080,375 |
| California Community Choice Financing Authority, Clean Energy Project, Revenue Bonds | ||
| Series B-1 | ||
| 4.00%, due 2/1/52 (a) | 12,505,000 | 12,663,097 |
| Series A | ||
| 4.00%, due 10/1/52 (a) | 8,000,000 | 8,146,444 |
| Series A-1 | ||
| 4.00%, due 5/1/53 (a) | 12,780,000 | 13,021,821 |
| Series E-2 | ||
| 4.122%, due 2/1/54 | 27,500,000 | 27,936,265 |
| Series A-2 | ||
| 4.402%, due 12/1/53 | 14,250,000 | 14,504,394 |
| Series B-1 | ||
| 5.00%, due 7/1/53 (a) | 24,545,000 | 25,967,049 |
| Series B | ||
| 5.00%, due 1/1/55 (a) | 6,750,000 | 7,127,401 |
| Series D | ||
| 5.00%, due 2/1/55 (a) | 7,540,000 | 8,209,861 |
| Series C | ||
| 5.00%, due 8/1/55 (a) | 26,880,000 | 28,512,033 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| California Community Choice Financing Authority, Clean Energy Project, Revenue Bonds | ||
| Series G | ||
| 5.00%, due 11/1/55 (a) | $ 29,855,000 | $ 31,463,265 |
| Series C | ||
| 5.25%, due 1/1/54 (a) | 57,835,000 | 61,561,974 |
| California Community Choice Financing Authority, Clean Energy, Revenue Bonds | ||
| Series F | ||
| 5.00%, due 11/1/33 | 20,085,000 | 22,038,905 |
| California Health Facilities Financing Authority, CommonSpirit Health, Revenue Bonds | ||
| Series A, Insured: BAM | ||
| 3.00%, due 4/1/44 | 2,075,000 | 1,820,747 |
| Series A | ||
| 4.00%, due 4/1/49 | 170,000 | 182,275 |
| Series A | ||
| 4.00%, due 4/1/49 | 4,000,000 | 3,657,462 |
| California Health Facilities Financing Authority, Sutter Health, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 11/15/41 | 11,375,000 | 11,320,856 |
| California Infrastructure & Economic Development Bank, Clean Water and Drinking Water, Revenue Bonds | ||
| 4.00%, due 10/1/40 | 5,100,000 | 5,326,176 |
| California Municipal Finance Authority, Revenue Bonds (a) | ||
| Series 1, Class A-1 | ||
| 3.439%, due 2/20/41 | 17,373,405 | 16,441,664 |
| Series 2, Class A-1 | ||
| 4.217%, due 11/20/40 | 8,982,128 | 8,986,108 |
| California State University, Systemwide, Revenue Bonds | ||
| Series C | ||
| 3.00%, due 11/1/40 | 4,750,000 | 4,379,480 |
| Series A | ||
| 5.00%, due 11/1/42 | 9,725,000 | 9,934,609 |
| Carlsbad Unified School District, Election of 2018, Unlimited General Obligation | ||
| Series A | ||
| 3.00%, due 8/1/42 | 4,000,000 | 3,494,612 |
| Series B | ||
| 3.00%, due 8/1/46 | 2,725,000 | 2,160,627 |
| Center Joint Unified School District, Election of 2008, Unlimited General Obligation | ||
| Series B, Insured: BAM | ||
| 3.00%, due 8/1/51 | 4,750,000 | 3,542,246 |
| Chaffey Joint Union High School District, Election of 2012, Unlimited General Obligation | ||
| Series C | ||
| 5.25%, due 8/1/47 | 5,000,000 | 5,063,161 |
| City of Los Angeles, Department of Airports, Revenue Bonds (b) | ||
| Series D | ||
| 4.00%, due 5/15/40 | 2,200,000 | 2,198,932 |
| Series A | ||
| 4.00%, due 5/15/41 | 15,000,000 | 14,980,153 |
| Series A | ||
| 5.25%, due 5/15/43 | 10,000,000 | 11,016,098 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| City of Los Angeles, Department of Airports, Revenue Bonds, Senior Lien (b) | ||
| Series G | ||
| 5.00%, due 5/15/47 | $ 3,250,000 | $ 3,344,167 |
| Series G | ||
| 5.50%, due 5/15/36 | 15,175,000 | 17,114,928 |
| Series G | ||
| 5.50%, due 5/15/38 | 4,775,000 | 5,325,184 |
| Series G | ||
| 5.50%, due 5/15/39 | 3,250,000 | 3,607,823 |
| Series G | ||
| 5.50%, due 5/15/40 | 6,700,000 | 7,394,506 |
| Series H | ||
| 5.50%, due 5/15/47 | 8,150,000 | 8,604,878 |
| City of Oakland, Measure KK, Unlimited General Obligation | ||
| Series B-1, Insured: BAM | ||
| 3.00%, due 1/15/50 | 4,000,000 | 2,981,496 |
| Corona-Norco Unified School District, Unlimited General Obligation | ||
| Series C | ||
| 3.00%, due 8/1/44 | 5,000,000 | 4,165,612 |
| Fresno Unified School District, Unlimited General Obligation | ||
| Series B | ||
| 3.00%, due 8/1/43 | 7,500,000 | 6,145,688 |
| Golden State Tobacco Securitization Corp., Revenue Bonds | ||
| Series A-1 | ||
| 2.587%, due 6/1/29 | 10,000,000 | 9,479,552 |
| Inglewood Unified School District, Election of 2020, Unlimited General Obligation | ||
| Series B | ||
| 5.50%, due 8/1/41 | 2,300,000 | 2,735,369 |
| Series B | ||
| 5.50%, due 8/1/42 | 2,795,000 | 3,272,641 |
| Series B | ||
| 5.50%, due 8/1/43 | 2,500,000 | 2,886,569 |
| Long Beach Unified School District, Election of 2016, Unlimited General Obligation | ||
| Series B | ||
| 3.00%, due 8/1/41 | 4,650,000 | 4,154,871 |
| Los Angeles Department of Water & Power, Power System, Revenue Bonds | ||
| Series E | ||
| 5.00%, due 7/1/28 | 6,965,000 | 7,412,643 |
| Series D | ||
| 5.00%, due 7/1/29 | 70,000 | 76,206 |
| Series B | ||
| 5.00%, due 7/1/31 | 2,120,000 | 2,273,069 |
| Series E | ||
| 5.00%, due 7/1/31 | 15,000,000 | 16,953,913 |
| Series A | ||
| 5.00%, due 7/1/32 | 1,355,000 | 1,524,445 |
| Series B | ||
| 5.00%, due 7/1/32 | 6,340,000 | 6,781,802 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| Los Angeles Department of Water & Power, Power System, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 7/1/33 | $ 3,020,000 | $ 3,149,910 |
| Series B | ||
| 5.00%, due 7/1/33 | 6,000,000 | 6,838,667 |
| Series C | ||
| 5.00%, due 7/1/33 | 2,835,000 | 3,056,989 |
| Series A | ||
| 5.00%, due 7/1/35 | 7,000,000 | 8,077,843 |
| Series E | ||
| 5.00%, due 7/1/35 | 12,625,000 | 14,677,954 |
| Series A | ||
| 5.00%, due 7/1/36 | 1,830,000 | 1,897,653 |
| Series B | ||
| 5.00%, due 7/1/36 | 2,605,000 | 2,982,051 |
| Series C | ||
| 5.00%, due 7/1/36 | 2,135,000 | 2,444,023 |
| Series E | ||
| 5.00%, due 7/1/36 | 1,620,000 | 1,841,211 |
| Series A | ||
| 5.00%, due 7/1/37 | 2,130,000 | 2,203,955 |
| Series E | ||
| 5.00%, due 7/1/38 | 7,000,000 | 7,832,113 |
| Series B | ||
| 5.00%, due 7/1/39 | 10,000,000 | 10,705,381 |
| Series A | ||
| 5.00%, due 7/1/44 | 1,205,000 | 1,291,153 |
| Series C | ||
| 5.00%, due 7/1/44 | 4,040,000 | 4,328,845 |
| Series A | ||
| 5.00%, due 7/1/50 | 5,000,000 | 5,190,524 |
| Series D | ||
| 5.00%, due 7/1/52 | 1,535,000 | 1,586,752 |
| Series A, Insured: BAM | ||
| 5.00%, due 7/1/53 | 9,500,000 | 9,856,946 |
| Series E | ||
| 5.00%, due 7/1/53 | 5,350,000 | 5,505,465 |
| Series A | ||
| 5.25%, due 7/1/49 | 6,400,000 | 6,550,095 |
| Series B | ||
| 5.25%, due 7/1/53 | 3,810,000 | 3,974,921 |
| Series D | ||
| 6.574%, due 7/1/45 | 15,680,000 | 16,983,983 |
| Los Angeles Department of Water & Power, Water System, Revenue Bonds | ||
| Series C | ||
| 5.00%, due 7/1/41 | 19,485,000 | 21,825,906 |
| Series C, Insured: BAM | ||
| 5.00%, due 7/1/42 | 6,500,000 | 7,205,091 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| Los Angeles Department of Water & Power, Water System, Revenue Bonds | ||
| Series C | ||
| 5.00%, due 7/1/43 | $ 10,000,000 | $ 10,923,352 |
| Series C, Insured: BAM | ||
| 5.00%, due 7/1/44 | 7,500,000 | 8,151,279 |
| Series A | ||
| 6.603%, due 7/1/50 | 48,635,000 | 52,802,027 |
| Modesto Irrigation District, Domestic Water Project, Revenue Bonds | ||
| Series F, Insured: NATL-RE | ||
| 3.296%, due 9/1/27 | 3,040,000 | 3,032,818 |
| Moreno Valley Unified School District, Election 2014, Unlimited General Obligation | ||
| Series C, Insured: BAM | ||
| 3.00%, due 8/1/46 | 4,750,000 | 3,778,827 |
| Municipal Improvement Corp. of Lof Angelese, Los Angeles Convention Center, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 5/1/55 | 15,000,000 | 16,257,529 |
| Norman Y Mineta San Jose International Airport SJC, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 3/1/41 (b) | 8,500,000 | 8,574,280 |
| Novato Unified School District, Unlimited General Obligation | ||
| Series B | ||
| 3.00%, due 8/1/41 | 2,500,000 | 2,277,995 |
| Oakland Unified School District, Election of 2020, Unlimited General Obligation | ||
| Series A, Insured: AG | ||
| 5.25%, due 8/1/48 | 20,000,000 | 21,379,948 |
| Ocean View School District of Orange County, Unlimited General Obligation | ||
| Series C, Insured: AG | ||
| 3.00%, due 8/1/47 | 4,250,000 | 3,328,243 |
| Peninsula Corridor Joint Powers Board, Green Bond, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 6/1/47 | 3,000,000 | 3,147,630 |
| Pittsburg Successor Agency Redevelopment Agency, Tax Allocation | ||
| Series A, Insured: AG | ||
| 5.00%, due 9/1/26 | 3,000,000 | 3,044,810 |
| Richmond Joint Powers Financing Authority, Civic Center Project, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 11/1/36 | 2,750,000 | 2,968,151 |
| Sacramento Area Flood Control Agency, Consolidated Capital Assessment District No. 2, Special Assessment | ||
| Series A | ||
| 5.00%, due 10/1/36 | 3,195,000 | 3,246,958 |
| Sacramento City Unified School District, Election of 2020, Unlimited General Obligation | ||
| Series A, Insured: BAM | ||
| 5.50%, due 8/1/47 | 5,000,000 | 5,294,193 |
| Series A, Insured: BAM | ||
| 5.50%, due 8/1/52 | 5,000,000 | 5,245,384 |
| Series C, Insured: AG | ||
| 5.50%, due 8/1/54 | 10,000,000 | 10,912,339 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| Sacramento City Unified School District, Election of 2024, Unlimited General Obligation | ||
| Series A, Insured: AG | ||
| 5.50%, due 8/1/53 | $ 14,500,000 | $ 15,834,860 |
| San Diego County Regional Airport Authority, Revenue Bonds, Senior Lien | ||
| Series B | ||
| 5.25%, due 7/1/42 (b) | 4,000,000 | 4,465,702 |
| San Diego Public Facilities Financing Authority, Water Utility, Revenue Bonds | ||
| Series A | ||
| 5.25%, due 8/1/48 | 5,250,000 | 5,715,720 |
| San Diego Unified School District, Unlimited General Obligation | ||
| Series R-2 | ||
| (zero coupon), due 7/1/41 (c) | 11,000,000 | 11,864,042 |
| San Diego Unified School District, Election of 2012, Unlimited General Obligation | ||
| Series I | ||
| 5.00%, due 7/1/41 | 3,750,000 | 3,859,216 |
| San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds, Second Series (b) | ||
| Series A | ||
| 5.00%, due 5/1/31 | 10,500,000 | 11,680,628 |
| Series C | ||
| 5.00%, due 5/1/33 | 15,750,000 | 17,956,699 |
| Series A | ||
| 5.00%, due 5/1/34 | 7,350,000 | 8,095,203 |
| Series E | ||
| 5.00%, due 5/1/50 | 15,875,000 | 15,998,460 |
| Series A | ||
| 5.25%, due 5/1/41 | 30,820,000 | 34,207,272 |
| Series A | ||
| 5.25%, due 5/1/43 | 6,000,000 | 6,521,005 |
| Series A | ||
| 5.25%, due 5/1/44 | 4,500,000 | 4,842,713 |
| Series A | ||
| 5.50%, due 5/1/55 | 51,630,000 | 54,759,542 |
| San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds (b) | ||
| Series A | ||
| 5.00%, due 5/1/44 | 10,740,000 | 11,001,151 |
| Series B | ||
| 5.00%, due 5/1/46 | 11,240,000 | 11,243,055 |
| San Francisco Community College District, Election of 2020, Unlimited General Obligation | ||
| Series B, Insured: BAM | ||
| 5.00%, due 6/15/26 | 8,200,000 | 8,291,505 |
| San Jose Evergreen Community College District, Election of 2016, Unlimited General Obligation | ||
| Series B | ||
| 3.00%, due 9/1/41 | 1,065,000 | 977,394 |
| San Mateo Union High School District, Capital Appreciation, Election of 2010, Unlimited General Obligation | ||
| Series A | ||
| (zero coupon), due 9/1/41 (c) | 7,840,000 | 8,632,060 |
| Santa Clara Unified School District, Election of 2018, Unlimited General Obligation | ||
| 3.25%, due 7/1/44 | 7,585,000 | 6,635,341 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| Santa Cruz City High School District, Unlimited General Obligation | ||
| Series C | ||
| 2.00%, due 8/1/37 | $ 2,870,000 | $ 2,423,859 |
| Santa Monica Public Financing Authority, City Yards Project, Revenue Bonds | ||
| 2.25%, due 7/1/51 | 6,500,000 | 3,998,677 |
| Southern California Public Power Authority, Southern Transmission System Renewal Project, Revenue Bonds | ||
| Series C | ||
| 4.00%, due 7/1/27 | 3,935,000 | 3,942,949 |
| Series 1 | ||
| 5.00%, due 7/1/33 | 3,410,000 | 3,956,552 |
| Series 1 | ||
| 5.00%, due 7/1/34 | 3,480,000 | 4,076,759 |
| Series 1 | ||
| 5.00%, due 7/1/35 | 4,185,000 | 4,792,760 |
| Series 1 | ||
| 5.00%, due 7/1/37 | 8,330,000 | 9,379,356 |
| Series 1 | ||
| 5.00%, due 7/1/40 | 7,225,000 | 8,104,053 |
| Series A-1 | ||
| 5.00%, due 7/1/48 | 15,550,000 | 16,178,887 |
| Series 1 | ||
| 5.00%, due 7/1/53 | 16,890,000 | 17,447,390 |
| Series 2 | ||
| 5.00%, due 7/1/53 (a) | 8,000,000 | 8,497,566 |
| Southern California Public Power Authority, Apex Power Project, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 7/1/33 | 4,000,000 | 4,646,969 |
| Southern California Public Power Authority, Southern Transmissional System Renewal Project, Revenue Bonds | ||
| Series A-1 | ||
| 5.25%, due 7/1/53 | 11,930,000 | 12,477,963 |
| Southern Mono Health Care District, Election of 2001, Unlimited General Obligation | ||
| Series B, Insured: NATL-RE | ||
| (zero coupon), due 8/1/32 | 2,600,000 | 2,125,136 |
| Series B, Insured: NATL-RE | ||
| (zero coupon), due 8/1/33 | 2,505,000 | 1,969,749 |
| State of California, Unlimited General Obligation | ||
| 7.60%, due 11/1/40 | 9,615,000 | 11,684,723 |
| Sunnyvale School District, Election of 2013, Unlimited General Obligation | ||
| Series C | ||
| 3.00%, due 9/1/44 | 6,750,000 | 5,672,927 |
| Twin Rivers Unified School District, Election 2006, Unlimited General Obligation | ||
| Insured: AG | ||
| (zero coupon), due 8/1/32 | 4,370,000 | 3,643,460 |
| University of California, Revenue Bonds | ||
| Series AR | ||
| 5.00%, due 5/15/41 | 12,260,000 | 12,296,383 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| California | ||
| Val Verde Unified School District, Election of 2012, Unlimited General Obligation | ||
| Series F, Insured: AG | ||
| 3.00%, due 8/1/47 | $ 8,910,000 | $ 7,019,640 |
| Yosemite Community College District, Election of 2004, Unlimited General Obligation | ||
| Series D | ||
| (zero coupon), due 8/1/42 (c) | 15,575,000 | 14,432,368 |
| 1,290,586,319 | ||
| Colorado 2.0% | ||
| Adams County School District No. 1, Unlimited General Obligation | ||
| Insured: State Aid Withholding | ||
| 5.25%, due 12/1/40 | 5,910,000 | 6,002,916 |
| Arapahoe County School District No. 5, Cherry Creek, Unlimited General Obligation | ||
| Series B, Insured: State Aid Withholding | ||
| 2.30%, due 12/15/28 | 5,790,000 | 5,716,062 |
| City & County of Denver, Board of Water Commissioners, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 9/15/42 | 6,285,000 | 5,532,708 |
| City & County of Denver, Airport System, Revenue Bonds (b) | ||
| Series A | ||
| 4.00%, due 12/1/43 | 3,470,000 | 3,310,941 |
| Series A | ||
| 5.00%, due 12/1/34 | 6,000,000 | 6,897,338 |
| Series A | ||
| 5.00%, due 12/1/37 | 15,675,000 | 16,267,775 |
| Series A | ||
| 5.00%, due 12/1/43 | 4,915,000 | 5,013,043 |
| Series A | ||
| 5.50%, due 11/15/35 | 5,250,000 | 6,006,494 |
| Series A | ||
| 5.50%, due 11/15/40 | 17,760,000 | 19,700,291 |
| Series D | ||
| 5.75%, due 11/15/38 | 3,000,000 | 3,410,233 |
| City & County of Denver, Convention Center Expansion Project, Certificate of Participation | ||
| Series A | ||
| 5.375%, due 6/1/43 | 12,875,000 | 12,944,035 |
| City of Colorado Springs, Utilities System, Revenue Bonds | ||
| Series B | ||
| 5.25%, due 11/15/52 | 10,000,000 | 10,522,444 |
| Series A | ||
| 5.25%, due 11/15/54 | 4,895,000 | 5,201,880 |
| Colorado Health Facilities Authority, CommonSpirit Health, Revenue Bonds | ||
| Series A-1, Insured: BAM | ||
| 4.00%, due 8/1/44 | 8,100,000 | 7,589,784 |
| Colorado Health Facilities Authority, Adventist Health System, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 11/15/48 | 13,500,000 | 12,254,903 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Colorado | ||
| Colorado Health Facilities Authority, AdventHealth Obligated Group, Revenue Bonds | ||
| Series A-1 | ||
| 5.00%, due 11/15/59 (a) | $ 4,625,000 | $ 5,042,216 |
| Colorado Housing and Finance Authority, Revenue Bonds | ||
| Series B, Insured: GNMA | ||
| 3.00%, due 5/1/51 (b) | 2,570,000 | 2,549,015 |
| Colorado Housing and Finance Authority, Sustainable Bonds, Revenue Bonds | ||
| Series B, Class 1, Insured: GNMA | ||
| 3.25%, due 5/1/52 | 4,790,000 | 4,770,565 |
| Gunnison Watershed School District No. Re 1J, Unlimited General Obligation | ||
| Insured: State Aid Withholding | ||
| 5.00%, due 12/1/47 | 14,150,000 | 14,767,994 |
| State of Colorado, Certificate of Participation | ||
| Series J | ||
| 5.25%, due 3/15/42 | 18,500,000 | 18,843,730 |
| 6.00%, due 12/15/40 | 5,025,000 | 5,860,681 |
| 6.00%, due 12/15/41 | 4,560,000 | 5,298,489 |
| 183,503,537 | ||
| Connecticut 1.4% | ||
| Connecticut State Health & Educational Facilities Authority, Hartford HealthCare Corp., Revenue Bonds (d) | ||
| Series A, Insured: AG | ||
| 5.50%, due 7/1/51 | 8,750,000 | 9,374,709 |
| Series A, Insured: AG | ||
| 5.50%, due 7/1/55 | 16,400,000 | 17,550,401 |
| New Canaan Housing Authority, HANC Lakeview LLC, Revenue Bonds | ||
| Series A, Insured: FNMA | ||
| 4.00%, due 12/1/34 | 10,000,000 | 10,439,192 |
| State of Connecticut, Unlimited General Obligation | ||
| Series A | ||
| 3.00%, due 1/15/37 | 6,420,000 | 6,169,290 |
| State of Connecticut, Special Tax | ||
| Series A | ||
| 3.125%, due 5/1/40 | 11,355,000 | 10,442,963 |
| State of Connecticut, Transportation Infrastructure, Special Tax, Special Tax | ||
| Series A | ||
| 5.25%, due 7/1/40 | 20,420,000 | 23,289,149 |
| Series A | ||
| 5.25%, due 7/1/41 | 18,980,000 | 21,516,455 |
| Series A | ||
| 5.25%, due 7/1/42 | 25,220,000 | 28,299,412 |
| Waterbury Housing Authority, Laurel Estates Preservation Project, Revenue Bonds | ||
| Series A, Insured: HUD Sector 8 FHLMC | ||
| 4.50%, due 2/1/42 | 4,605,000 | 4,699,576 |
| 131,781,147 | ||
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Delaware 0.8% | ||
| Delaware State Health Facilities Authority, Christiana Care Health System, Revenue Bonds | ||
| 5.25%, due 10/1/51 (d) | $ 5,500,000 | $ 5,785,021 |
| Delaware State Housing Authority, Revenue Bonds, Senior Lien | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 4.55%, due 7/1/45 | 3,195,000 | 3,182,618 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 5.75%, due 1/1/56 | 9,585,000 | 10,594,175 |
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 1/1/56 | 8,780,000 | 9,844,947 |
| Delaware State Housing Authority, Revenue Bonds | ||
| Series E, Insured: GNMA / FNMA / FHLMC | ||
| 5.50%, due 1/1/56 | 20,000,000 | 21,972,124 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 5.75%, due 1/1/55 | 5,320,000 | 5,830,120 |
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 1/1/55 | 11,035,000 | 12,244,914 |
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 1/1/56 | 4,000,000 | 4,462,362 |
| 73,916,281 | ||
| District of Columbia 0.9% | ||
| District of Columbia, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 7/1/47 | 6,250,000 | 6,703,761 |
| Metropolitan Washington Airports Authority, Aviation, Revenue Bonds (b) | ||
| Series A | ||
| 5.00%, due 10/1/29 | 7,000,000 | 7,579,011 |
| Series A | ||
| 5.00%, due 10/1/30 | 6,000,000 | 6,593,240 |
| Series A | ||
| 5.00%, due 10/1/31 | 8,000,000 | 8,918,140 |
| Series A | ||
| 5.00%, due 10/1/32 | 16,945,000 | 19,111,068 |
| Series A | ||
| 5.00%, due 10/1/35 | 3,955,000 | 4,189,382 |
| Series A | ||
| 5.25%, due 10/1/48 | 5,000,000 | 5,171,278 |
| Metropolitan Washington Airports Authority, Airport System, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 10/1/30 (b) | 3,840,000 | 4,132,497 |
| Metropolitan Washington Airports Authority, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Second Lien | ||
| Series C, Insured: AG | ||
| 6.50%, due 10/1/41 (c) | 6,730,000 | 6,913,619 |
| Metropolitan Washington Airports Authority, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Senior Lien (c) | ||
| Series B | ||
| 6.50%, due 10/1/44 | 6,040,000 | 6,428,701 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| District of Columbia | ||
| Metropolitan Washington Airports Authority, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Senior Lien (c) | ||
| Series B | ||
| 6.50%, due 10/1/44 | $ 2,600,000 | $ 2,767,322 |
| Washington Metropolitan Area Transit Authority, Green bond, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 7/15/39 | 5,600,000 | 5,728,512 |
| 84,236,531 | ||
| Florida 4.4% | ||
| Central Florida Tourism Oversight District Utility, Revenue Bonds | ||
| Series 1 | ||
| 5.00%, due 10/1/42 | 5,000,000 | 5,480,489 |
| Series 1 | ||
| 5.00%, due 10/1/43 | 2,500,000 | 2,704,029 |
| Series 1 | ||
| 5.00%, due 10/1/45 | 3,000,000 | 3,180,882 |
| Collier County Industrial Development Authority, NCH Healthcare System, Inc. Obligated Group, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 10/1/49 | 5,500,000 | 5,638,532 |
| County of Brevard, Solid Waste Management System, Revenue Bonds | ||
| 5.50%, due 9/1/53 | 8,720,000 | 9,414,240 |
| County of Broward, Airport System, Revenue Bonds | ||
| 5.00%, due 10/1/42 (b) | 5,045,000 | 5,104,959 |
| County of Hillsborough, Utility, Revenue Bonds | ||
| 3.00%, due 8/1/40 | 4,000,000 | 3,568,587 |
| County of Lee, Airport, Revenue Bonds (b) | ||
| Series A | ||
| 5.00%, due 10/1/29 | 8,000,000 | 8,606,590 |
| Series B | ||
| 5.00%, due 10/1/46 | 4,750,000 | 4,815,658 |
| 5.25%, due 10/1/38 | 5,000,000 | 5,605,605 |
| 5.25%, due 10/1/39 | 3,240,000 | 3,607,926 |
| 5.25%, due 10/1/49 | 4,250,000 | 4,407,644 |
| 5.25%, due 10/1/54 | 35,000,000 | 36,044,218 |
| County of Miami-Dade, Revenue Bonds | ||
| (zero coupon), due 10/1/42 | 6,200,000 | 3,081,924 |
| Series A | ||
| 5.00%, due 10/1/31 (b) | 5,750,000 | 6,409,913 |
| County of Miami-Dade, Water & Sewer System, Revenue Bonds | ||
| Insured: BAM | ||
| 3.00%, due 10/1/36 | 2,100,000 | 2,027,328 |
| Series B, Insured: BAM | ||
| 4.00%, due 10/1/49 | 10,000,000 | 9,152,207 |
| County of Miami-Dade, Transit System, Revenue Bonds | ||
| 3.00%, due 7/1/37 | 4,000,000 | 3,892,504 |
| 4.00%, due 7/1/32 | 2,465,000 | 2,477,153 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Florida | ||
| County of Miami-Dade, Aviation, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 10/1/33 (b) | $ 5,000,000 | $ 5,696,154 |
| County of Pasco, H. Lee Moffitt Cancer Center Project, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 9/1/48 | 5,000,000 | 5,094,949 |
| County of Pasco, State of Florida Cigarette Tax Revenue, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.75%, due 9/1/54 | 20,000,000 | 21,513,790 |
| County of Sarasota, Utility System, Revenue Bonds | ||
| 5.25%, due 10/1/52 | 5,500,000 | 5,773,583 |
| Florida Housing Finance Corp., Revenue Bonds | ||
| Series 2, Insured: GNMA / FNMA / FHLMC | ||
| 4.25%, due 7/1/37 | 2,750,000 | 2,850,070 |
| Florida State Board of Governors, University of North Florida Dormitory Facilities Revenue, Revenue Bonds | ||
| Series A, Insured: BAM | ||
| 5.00%, due 11/1/48 | 4,000,000 | 4,144,363 |
| Greater Orlando Aviation Authority, Revenue Bonds (b) | ||
| Series A | ||
| 4.00%, due 10/1/35 | 3,000,000 | 3,056,299 |
| 5.25%, due 10/1/48 | 8,790,000 | 9,177,806 |
| 5.25%, due 10/1/49 | 2,410,000 | 2,511,576 |
| Hillsborough County Aviation Authority, Tampa International Airport, Revenue Bonds (b) | ||
| Series B | ||
| 5.50%, due 10/1/49 | 7,125,000 | 7,577,230 |
| Series B | ||
| 5.50%, due 10/1/54 | 38,485,000 | 40,642,658 |
| Hillsborough County Industrial Development Authority, BayCare Obligated Group, Revenue Bonds | ||
| Series C | ||
| 5.50%, due 11/15/54 | 9,985,000 | 10,678,640 |
| JEA Water & Sewer System, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 10/1/54 | 21,655,000 | 23,261,333 |
| Miami-Dade County Health Facilities Authority, Nicklaus Children's Hospital Project, Revenue Bonds | ||
| Series A, Insured: AG-CR | ||
| 4.00%, due 8/1/51 | 5,000,000 | 4,520,470 |
| 5.00%, due 8/1/47 | 4,295,000 | 4,323,556 |
| North Broward Hospital District, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 1/1/42 | 6,500,000 | 6,622,446 |
| Series B | ||
| 5.00%, due 1/1/48 | 3,500,000 | 3,513,117 |
| Okaloosa Gas District, Revenue Bonds | ||
| Series B, Insured: AG | ||
| 5.00%, due 10/1/43 | 7,900,000 | 8,524,751 |
| Series B, Insured: AG | ||
| 5.25%, due 10/1/44 | 5,375,000 | 5,851,384 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Florida | ||
| Orange County Health Facilities Authority, Orlando Health, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 10/1/49 | $ 4,185,000 | $ 3,633,197 |
| Orange County Health Facilities Authority, Orlando Health, Inc., Revenue Bonds | ||
| Insured: AG-CR | ||
| 4.00%, due 10/1/52 | 7,000,000 | 6,246,035 |
| Peace River Manasota Regional Water Supply Authority, Revenue Bonds | ||
| Series B | ||
| 5.25%, due 10/1/50 | 6,500,000 | 6,895,851 |
| South Broward Hospital District, Revenue Bonds | ||
| Series A, Insured: BAM | ||
| 3.00%, due 5/1/51 | 21,200,000 | 15,569,185 |
| 4.00%, due 5/1/48 | 13,135,000 | 12,222,290 |
| St. Lucie County Housing Finance Authority, Live Oak Preservations Ltd., Revenue Bonds | ||
| Insured: FNMA | ||
| 4.45%, due 1/1/41 | 8,335,000 | 8,598,578 |
| State of Florida, Department of Transportation Turnpike System, Revenue Bonds | ||
| Series C | ||
| 3.00%, due 7/1/51 | 2,150,000 | 1,601,447 |
| State of Florida, Unlimited General Obligation | ||
| Series E | ||
| 3.10%, due 6/1/28 | 7,235,000 | 7,237,380 |
| Village Community Development District No. 8, Special Assessment | ||
| Insured: AG | ||
| 3.50%, due 5/1/40 | 4,735,000 | 4,701,182 |
| West Palm Beach Community Redevelopment Agency, City center community redevelopment, Tax Allocation | ||
| Insured: AG-CR | ||
| 5.00%, due 3/1/34 | 8,450,000 | 9,010,812 |
| Insured: AG-CR | ||
| 5.00%, due 3/1/35 | 9,020,000 | 9,598,656 |
| Wildwood Utility Dependent District, 2023 Project, Revenue Bonds | ||
| Insured: AG | ||
| 5.25%, due 10/1/43 | 10,250,000 | 11,119,968 |
| Insured: AG | ||
| 5.50%, due 10/1/53 | 14,000,000 | 14,900,984 |
| 411,890,128 | ||
| Georgia 3.8% | ||
| Augusta Development Authority, WellStar Health System Project, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.125%, due 4/1/53 | 5,400,000 | 5,585,944 |
| Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 7/1/44 | 27,935,000 | 27,417,756 |
| Series A | ||
| 4.00%, due 7/1/49 | 15,865,000 | 14,542,606 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Georgia | ||
| City of Atlanta, Airport Passenger Facility Charge, Revenue Bonds, Sub. Lien (b) | ||
| Series D | ||
| 4.00%, due 7/1/35 | $ 5,820,000 | $ 5,911,688 |
| Series D | ||
| 4.00%, due 7/1/38 | 3,500,000 | 3,515,811 |
| City of Atlanta, Airport Passenger Facility Charge, Revenue Bonds | ||
| Series E | ||
| 5.00%, due 7/1/33 (b) | 2,750,000 | 3,131,125 |
| City of Atlanta, Water & Wastewater, Revenue Bonds | ||
| 5.00%, due 11/1/29 | 4,250,000 | 4,277,542 |
| City of Atlanta, Public Improvement, Unlimited General Obligation | ||
| Series A-1 | ||
| 5.00%, due 12/1/42 | 11,750,000 | 12,842,645 |
| Dalton Whitfield County Joint Development Authority, Hamilton Health Care System, Revenue Bonds | ||
| 4.00%, due 8/15/48 | 4,000,000 | 3,624,102 |
| Development Authority of Burke County (The), Georgia Power Co., Revenue Bonds, Second Series | ||
| Series 2 | ||
| 3.375%, due 11/1/48 (a) | 5,650,000 | 5,688,351 |
| Development Authority of Burke County (The), Georgia Power Co., Revenue Bonds (a) | ||
| Series 4 | ||
| 3.80%, due 10/1/32 | 2,000,000 | 2,006,012 |
| Series 4 | ||
| 3.80%, due 10/1/32 | 2,000,000 | 2,006,012 |
| Gainesville & Hall County Hospital Authority, Northeast Georgia Health System, Revenue Bonds | ||
| Series A | ||
| 2.50%, due 2/15/51 | 8,500,000 | 5,352,361 |
| Series B, Insured: County Guaranteed | ||
| 5.50%, due 2/15/42 | 9,290,000 | 9,482,289 |
| Gainesville & Hall County Hospital Authority, Northeast Georgia Health System, Inc. Project, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 2/15/51 | 2,000,000 | 1,768,605 |
| Georgia Housing & Finance Authority, Revenue Bonds | ||
| Series B | ||
| 3.55%, due 12/1/42 | 5,500,000 | 5,206,567 |
| Georgia Ports Authority, Revenue Bonds | ||
| 5.25%, due 7/1/43 | 4,695,000 | 5,137,131 |
| Griffin-Spalding County Hospital Authority, WellStar Health System, Revenue Bonds | ||
| 4.00%, due 4/1/42 | 3,440,000 | 3,295,329 |
| Main Street Energy, Inc., Energy Project, Revenue Bonds | ||
| Series D | ||
| 5.00%, due 12/1/33 | 15,000,000 | 16,200,048 |
| Main Street Natural Gas, Inc., Revenue Bonds | ||
| Series C | ||
| 4.00%, due 3/1/50 (a) | 2,975,000 | 2,992,260 |
| Series C | ||
| 4.00%, due 5/1/52 (a) | 18,285,000 | 18,635,772 |
| Series A | ||
| 4.00%, due 7/1/52 (a) | 21,645,000 | 21,991,318 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Georgia | ||
| Main Street Natural Gas, Inc., Revenue Bonds | ||
| Series A | ||
| 4.00%, due 9/1/52 (a) | $ 18,500,000 | $ 18,912,611 |
| Series A | ||
| 5.00%, due 5/15/34 | 2,750,000 | 2,895,584 |
| Series A | ||
| 5.00%, due 5/15/37 | 2,265,000 | 2,496,729 |
| Series A | ||
| 5.00%, due 6/1/53 (a) | 5,605,000 | 5,952,713 |
| Series B | ||
| 5.00%, due 7/1/53 (a) | 12,750,000 | 13,505,044 |
| Series D | ||
| 5.00%, due 4/1/54 (a) | 10,000,000 | 10,719,956 |
| Series A | ||
| 5.00%, due 5/1/54 (a) | 16,665,000 | 18,024,742 |
| Series C | ||
| 5.00%, due 12/1/54 (a) | 11,300,000 | 12,119,110 |
| Series E | ||
| 5.00%, due 5/1/55 (a) | 22,680,000 | 24,441,490 |
| Series A | ||
| 5.50%, due 9/15/27 | 8,860,000 | 9,196,450 |
| Municipal Electric Authority of Georgia, Project One Subordinated Bonds, Revenue Bonds | ||
| Series A, Insured: AG-CR | ||
| 4.00%, due 1/1/41 | 2,545,000 | 2,566,126 |
| Series A | ||
| 4.00%, due 1/1/49 | 4,500,000 | 4,007,165 |
| Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 1/1/49 | 5,500,000 | 4,841,833 |
| Series A | ||
| 5.00%, due 1/1/39 | 11,250,000 | 11,605,116 |
| Series A | ||
| 5.25%, due 7/1/64 | 5,000,000 | 5,147,391 |
| Municipal Electric Authority of Georgia, Power, Revenue Bonds | ||
| Series HH | ||
| 5.00%, due 1/1/36 | 3,515,000 | 3,638,549 |
| Municipal Electric Authority of Georgia, Revenue Bonds | ||
| Series HH | ||
| 5.00%, due 1/1/37 | 3,695,000 | 3,811,895 |
| Series A | ||
| 5.50%, due 7/1/64 | 8,415,000 | 8,680,742 |
| Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 7/1/52 | 4,800,000 | 4,875,193 |
| Municipal Electric Authority of Georgia, Project One, Revenue Bonds | ||
| 5.25%, due 1/1/49 | 5,645,000 | 5,865,974 |
| 353,915,687 | ||
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Guam 0.1% | ||
| Guam Government Waterworks Authority, Water and Wastewater System, Revenue Bonds | ||
| 5.00%, due 1/1/46 | $ 5,000,000 | $ 5,006,954 |
| Hawaii 0.4% | ||
| State of Hawaii, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 7/1/31 (b) | 10,420,000 | 10,810,034 |
| State of Hawaii, Airports System, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 7/1/54 (b) | 17,950,000 | 19,096,659 |
| State of Hawaii Department of Budget & Finance, Hawaiian Electric Co., Inc., Revenue Bonds | ||
| Insured: AG-CR | ||
| 3.50%, due 10/1/49 (b) | 5,675,000 | 4,660,100 |
| 34,566,793 | ||
| Idaho 0.2% | ||
| Idaho Housing & Finance Association, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 4.45%, due 1/1/44 | 6,695,000 | 6,731,469 |
| Idaho Housing & Finance Association, Department of Transportation, Transportation Expansion & Congestion, Revenue Bonds | ||
| Series A | ||
| 5.25%, due 8/15/48 | 7,010,000 | 7,457,886 |
| 14,189,355 | ||
| Illinois 8.3% | ||
| Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
| Series A, Insured: NATL-RE | ||
| (zero coupon), due 12/1/26 | 17,245,000 | 16,775,227 |
| Chicago Board of Education, Unlimited General Obligation | ||
| Series A, Insured: AG | ||
| 5.00%, due 12/1/27 | 7,000,000 | 7,261,911 |
| Series A, Insured: AG | ||
| 5.00%, due 12/1/34 | 3,000,000 | 3,115,663 |
| Chicago Board of Education, Dedicated Capital Improvement, Revenue Bonds | ||
| 5.00%, due 4/1/46 | 9,500,000 | 9,344,202 |
| 5.75%, due 4/1/48 | 23,415,000 | 24,618,206 |
| 6.00%, due 4/1/46 | 64,735,000 | 65,613,130 |
| Chicago O'Hare International Airport, General, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 4.00%, due 1/1/36 | 10,000,000 | 10,250,033 |
| Series A, Insured: BAM | ||
| 4.00%, due 1/1/43 (b) | 13,500,000 | 13,107,371 |
| Series D, Insured: AG | ||
| 5.00%, due 1/1/38 | 4,750,000 | 5,196,382 |
| Series A, Insured: AG | ||
| 5.50%, due 1/1/53 (b) | 23,525,000 | 24,181,794 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Illinois | ||
| Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 4.50%, due 1/1/48 (b) | $ 4,725,000 | $ 4,506,077 |
| Series E | ||
| 5.00%, due 1/1/28 (b) | 18,345,000 | 19,138,983 |
| Series C | ||
| 5.00%, due 1/1/35 (b) | 3,615,000 | 4,133,615 |
| Series A | ||
| 5.25%, due 1/1/41 (b) | 5,000,000 | 5,511,387 |
| Series A | ||
| 5.25%, due 1/1/42 (b) | 7,550,000 | 8,228,480 |
| Series A | ||
| 5.25%, due 1/1/48 (b) | 9,500,000 | 9,781,333 |
| Series E | ||
| 5.50%, due 1/1/48 (b) | 25,875,000 | 27,376,405 |
| Series A | ||
| 5.50%, due 1/1/53 (b) | 5,960,000 | 6,210,446 |
| Series A | ||
| 5.50%, due 1/1/55 (b) | 5,175,000 | 5,334,186 |
| Series E | ||
| 5.50%, due 1/1/55 (b) | 32,100,000 | 33,490,810 |
| Series B | ||
| 5.50%, due 1/1/59 | 15,290,000 | 16,210,038 |
| Chicago O'Hare International Airport, Senior Lien, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 5.00%, due 1/1/37 (b) | 5,000,000 | 5,194,720 |
| Chicago Park District, Limited Tax, Limited General Obligation | ||
| Series C | ||
| 4.00%, due 1/1/35 | 4,000,000 | 4,083,951 |
| City of Chicago, Unlimited General Obligation | ||
| Series B | ||
| 4.00%, due 1/1/37 | 4,750,000 | 4,572,212 |
| Series A | ||
| 5.00%, due 1/1/32 | 1,400,000 | 1,481,764 |
| Series A | ||
| 6.00%, due 1/1/38 | 29,950,000 | 30,408,340 |
| Series A, Insured: BAM | ||
| 6.00%, due 1/1/38 | 5,000,000 | 5,095,896 |
| City of Chicago, Wastewater Transmission Project, Revenue Bonds, Second Lien | ||
| Series A, Insured: AG | ||
| 5.25%, due 1/1/42 | 4,150,000 | 4,198,755 |
| Series A, Insured: AG | ||
| 5.50%, due 1/1/62 | 7,240,000 | 7,582,975 |
| City of Chicago, Waterworks, Revenue Bonds, Second Lien | ||
| Series A, Insured: AG | ||
| 5.25%, due 11/1/48 | 6,000,000 | 6,258,012 |
| Series A, Insured: AG | ||
| 5.50%, due 11/1/62 | 7,730,000 | 8,156,902 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Illinois | ||
| City of Springfield, Electric, Revenue Bonds, Senior Lien | ||
| Insured: BAM | ||
| 3.00%, due 3/1/37 | $ 22,825,000 | $ 21,946,669 |
| Cook County High School District No. 209, Proviso Township, Limited General Obligation | ||
| Series B, Insured: AG | ||
| 4.00%, due 12/1/38 | 3,000,000 | 3,027,033 |
| County of Cook, Sales Tax, Revenue Bonds | ||
| 4.00%, due 11/15/37 | 4,250,000 | 4,288,312 |
| Grand Prairie Water Commission, Revenue Bonds, Senior Lien | ||
| Insured: BAM | ||
| 5.25%, due 1/1/55 | 4,250,000 | 4,439,563 |
| Illinois Finance Authority, Maine Township High School District No. 207, Revenue Bonds | ||
| 4.00%, due 12/1/37 | 3,500,000 | 3,572,416 |
| Illinois Finance Authority, University of Chicago Medical Center Obligated Group, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 8/15/41 | 3,500,000 | 3,394,970 |
| Illinois Finance Authority, Northwestern Memorial Healthcare, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 7/15/47 | 16,660,000 | 14,929,537 |
| Illinois Finance Authority, Uchicago Medicine, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 8/15/52 | 4,250,000 | 4,268,989 |
| Illinois Housing Development Authority, Sustainable Bonds, Revenue Bonds | ||
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 4.70%, due 10/1/44 | 11,105,000 | 11,298,707 |
| Illinois Housing Development Authority, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 10/1/54 | 6,190,000 | 6,750,659 |
| Series I, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 10/1/55 | 4,905,000 | 5,504,839 |
| Series G, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 4/1/56 | 9,250,000 | 10,655,848 |
| Illinois State Toll Highway Authority, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 1/1/45 | 8,475,000 | 9,119,523 |
| Series A | ||
| 5.00%, due 1/1/46 | 5,015,000 | 5,345,132 |
| Series A | ||
| 5.00%, due 1/1/47 | 41,300,000 | 43,761,484 |
| Kane County Forest Preserve District, Unlimited General Obligation | ||
| Series C | ||
| 3.00%, due 12/15/26 | 2,880,000 | 2,880,681 |
| Lake County Community High School District No. 115, Lake Forest, Unlimited General Obligation | ||
| 4.25%, due 11/1/41 | 7,260,000 | 7,574,420 |
| 4.50%, due 11/1/42 | 7,585,000 | 7,943,067 |
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Capital Appreciation, Revenue Bonds | ||
| Series A, Insured: NATL-RE | ||
| (zero coupon), due 6/15/35 | 17,500,000 | 12,689,752 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Illinois | ||
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Capital Appreciation, Revenue Bonds | ||
| Series A, Insured: NATL-RE | ||
| (zero coupon), due 6/15/36 | $ 27,500,000 | $ 19,012,320 |
| Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Revenue Bonds | ||
| Series B-1, Insured: AG | ||
| (zero coupon), due 6/15/43 | 10,000,000 | 4,757,857 |
| Northern Illinois Municipal Power Agency, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 12/1/41 | 5,125,000 | 5,174,573 |
| Regional Transportation Authority, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 6/1/37 | 3,000,000 | 3,436,006 |
| Sales Tax Securitization Corp., Revenue Bonds | ||
| Series A | ||
| 4.00%, due 1/1/48 | 8,750,000 | 7,704,092 |
| Series C | ||
| 5.25%, due 1/1/34 | 4,250,000 | 4,504,590 |
| Series C, Insured: BAM | ||
| 5.25%, due 1/1/48 | 35,150,000 | 35,664,255 |
| Series C | ||
| 5.50%, due 1/1/33 | 7,280,000 | 7,785,942 |
| Sangamon County School District No. 186, Springfield, Unlimited General Obligation | ||
| Insured: AG | ||
| 5.50%, due 6/1/58 | 5,375,000 | 5,712,572 |
| State of Illinois, Unlimited General Obligation | ||
| Series B | ||
| 5.00%, due 3/1/26 | 4,000,000 | 4,007,838 |
| Series D | ||
| 5.00%, due 11/1/26 | 7,375,000 | 7,509,817 |
| 5.00%, due 2/1/27 | 3,980,000 | 4,076,995 |
| Series D | ||
| 5.00%, due 11/1/27 | 10,000,000 | 10,417,453 |
| 5.00%, due 1/1/28 | 5,155,000 | 5,169,986 |
| Series A | ||
| 5.00%, due 12/1/34 | 4,500,000 | 4,649,165 |
| Series A | ||
| 5.50%, due 3/1/47 | 4,750,000 | 4,988,415 |
| Series A | ||
| 6.00%, due 5/1/27 | 8,190,000 | 8,537,408 |
| United City of Yorkville, Service Area Nos. 2005-108 & 2005-109 Special Tax Refunding Bonds, Special Tax | ||
| Insured: AG | ||
| 5.00%, due 3/1/32 | 2,999,000 | 3,004,596 |
| Village of Bellwood, Unlimited General Obligation | ||
| Insured: AG | ||
| 5.00%, due 12/1/29 | 1,500,000 | 1,502,914 |
| Village of Rosemont, Corporate Purpose, Unlimited General Obligation | ||
| Series A, Insured: AG | ||
| 5.00%, due 12/1/40 | 6,790,000 | 6,855,678 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Illinois | ||
| Village of Schaumburg, Unlimited General Obligation | ||
| Series A, Insured: BAM | ||
| 4.00%, due 12/1/41 | $ 32,050,000 | $ 32,055,945 |
| Will County School District No. 114, Manhattan, Unlimited General Obligation | ||
| Insured: BAM | ||
| 5.50%, due 1/1/49 | 6,210,000 | 6,586,494 |
| 772,925,718 | ||
| Indiana 0.9% | ||
| Crown Point Multi School Building Corp., Revenue Bonds | ||
| Insured: State Intercept | ||
| 5.00%, due 1/15/40 | 15,000,000 | 16,096,911 |
| Indiana Finance Authority, Indiana University Health, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 10/1/41 | 7,750,000 | 8,438,069 |
| Series B-2 | ||
| 5.00%, due 10/1/60 (a) | 9,000,000 | 9,862,668 |
| Indiana Finance Authority, CWA Authority, Inc., Revenue Bonds, First Lien | ||
| Series B | ||
| 5.25%, due 10/1/47 | 13,695,000 | 14,306,067 |
| Indiana Housing & Community Development Authority, Revenue Bonds | ||
| Series C-1, Insured: GNMA / FNMA / FHLMC | ||
| 4.70%, due 7/1/49 | 11,000,000 | 11,032,911 |
| Series A-1, Insured: GNMA / FNMA / FHLMC | ||
| 5.75%, due 7/1/53 | 2,120,000 | 2,258,864 |
| Indiana Municipal Power Agency, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 1/1/43 | 11,000,000 | 11,935,725 |
| Series A | ||
| 5.50%, due 1/1/47 | 8,115,000 | 8,636,853 |
| 82,568,068 | ||
| Iowa 0.6% | ||
| Ames Community School District, Unlimited General Obligation | ||
| 1.875%, due 6/1/36 | 4,000,000 | 3,308,864 |
| 1.875%, due 6/1/37 | 4,000,000 | 3,212,958 |
| City of Des Moines, Unlimited General Obligation | ||
| Series F | ||
| 2.00%, due 6/1/37 | 4,450,000 | 3,649,363 |
| PEFA, Inc., Gas Project, Revenue Bonds | ||
| 5.00%, due 9/1/49 (a) | 14,795,000 | 14,971,170 |
| State of Iowa Board of Regents, University of Iowa Health Care's Hospital System, Revenue Bonds | ||
| Series A | ||
| 4.50%, due 9/1/48 | 4,205,000 | 4,210,964 |
| Series A | ||
| 4.75%, due 9/1/50 | 15,810,000 | 15,925,852 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Iowa | ||
| Waukee Community School District, Unlimited General Obligation | ||
| Series B | ||
| 2.00%, due 6/1/35 | $ 4,000,000 | $ 3,447,326 |
| Series B | ||
| 2.00%, due 6/1/37 | 4,265,000 | 3,475,179 |
| Series B | ||
| 2.00%, due 6/1/38 | 5,370,000 | 4,293,913 |
| 56,495,589 | ||
| Kansas 0.1% | ||
| City of Hutchinson, Hutchinson Regional Medical Center, Inc., Revenue Bonds | ||
| 5.00%, due 12/1/26 | 565,000 | 566,405 |
| 5.00%, due 12/1/28 | 410,000 | 410,752 |
| 5.00%, due 12/1/30 | 500,000 | 500,352 |
| City of Topeka, Combined Utility, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 8/1/48 | 5,000,000 | 4,744,403 |
| 6,221,912 | ||
| Kentucky 0.7% | ||
| County of Carroll, Kentucky Utilities Co., Revenue Bonds | ||
| Series B | ||
| 2.125%, due 10/1/34 (b) | 7,500,000 | 6,536,044 |
| Kentucky Housing Corp., Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/55 | 4,930,000 | 5,488,222 |
| Kentucky Public Energy Authority, Gas Supply, Revenue Bonds | ||
| Series A-2 | ||
| 3.645%, due 8/1/52 | 18,100,000 | 18,294,208 |
| Series C | ||
| 4.00%, due 2/1/50 (a) | 8,640,000 | 8,776,661 |
| Series A-1 | ||
| 4.00%, due 8/1/52 (a) | 9,125,000 | 9,202,271 |
| Series A | ||
| 5.00%, due 5/1/55 (a) | 8,830,000 | 9,357,668 |
| Kentucky Public Energy Authority, Revenue Bonds | ||
| Series A | ||
| 5.25%, due 6/1/55 (a) | 8,000,000 | 8,515,406 |
| 66,170,480 | ||
| Louisiana 0.5% | ||
| Ernest N Morial New Orleans Exhibition Hall Authority, Special Tax | ||
| 5.50%, due 7/15/53 | 17,135,000 | 17,863,947 |
| Louisiana Housing Corp., Sustainable Bonds, Revenue Bonds | ||
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 3.25%, due 6/1/52 | 1,105,000 | 1,100,553 |
| Louisiana Public Facilities Authority, Ochsner Clinic Foundation Obligated Group, Revenue Bonds | ||
| 4.00%, due 5/15/42 | 4,250,000 | 4,085,195 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Louisiana | ||
| Louisiana Public Facilities Authority, I-10 Calcasieu River Bridge Public-Private Partnership Project, Revenue Bonds, Senior Lien (b) | ||
| 5.50%, due 9/1/54 | $ 4,385,000 | $ 4,473,818 |
| 5.50%, due 9/1/59 | 3,595,000 | 3,645,330 |
| Louisiana Public Facilities Authority, Calcasieu Bridge Partners LLC, Revenue Bonds, Senior Lien | ||
| 5.75%, due 9/1/64 (b) | 10,785,000 | 11,119,985 |
| Terrebonne Parish Hospital Service District No. 1, General Medical Center Project, Revenue Bonds | ||
| 5.50%, due 4/1/51 | 5,510,000 | 5,801,528 |
| 48,090,356 | ||
| Maine 0.0% ‡ | ||
| Maine State Housing Authority, Revenue Bonds | ||
| Series D | ||
| 2.65%, due 11/15/46 | 2,380,000 | 1,772,206 |
| Maryland 0.2% | ||
| County of Frederick, Public Facilities Project, Unlimited General Obligation | ||
| Series A | ||
| 1.75%, due 10/1/36 | 5,630,000 | 4,609,652 |
| Maryland Community Development Administration, Revenue Bonds | ||
| Series E, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 3/1/54 | 5,460,000 | 5,965,475 |
| Maryland Department of Housing & Community Development, Revenue Bonds | ||
| Series G | ||
| 6.25%, due 9/1/56 | 3,500,000 | 4,032,139 |
| Maryland Stadium Authority, Baltimore City Public School Construction Financing Fund, Revenue Bonds | ||
| Series A, Insured: State Intercept | ||
| 5.00%, due 5/1/34 | 4,250,000 | 4,450,948 |
| 19,058,214 | ||
| Massachusetts 2.1% | ||
| Boston Water & Sewer Commission, Revenue Bonds | ||
| Series B | ||
| 3.00%, due 11/1/41 | 8,500,000 | 7,528,713 |
| City of Worcester, Limited General Obligation | ||
| Insured: AG | ||
| 3.00%, due 2/1/37 | 2,750,000 | 2,691,850 |
| Commonwealth of Massachusetts, Consolidated Loan, Limited General Obligation | ||
| Series B | ||
| 3.00%, due 2/1/48 | 18,695,000 | 14,398,756 |
| Series C | ||
| 3.00%, due 3/1/49 | 13,250,000 | 10,038,888 |
| Series B | ||
| 3.00%, due 4/1/49 | 7,465,000 | 5,652,969 |
| Massachusetts Bay Transportation Authority, Sales Tax, Revenue Bonds | ||
| Series A | ||
| (zero coupon), due 7/1/31 | 11,500,000 | 9,820,171 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Massachusetts | ||
| Massachusetts Development Finance Agency, Mass General Brigham Issue, Revenue Bonds | ||
| Series F | ||
| 5.00%, due 7/1/45 | $ 4,000,000 | $ 4,273,510 |
| Series F | ||
| 5.00%, due 7/1/46 | 9,000,000 | 9,527,890 |
| Massachusetts Development Finance Agency, Beth Israel Lahey Health, Revenue Bonds | ||
| Series N, Insured: AG | ||
| 5.00%, due 7/1/50 | 3,575,000 | 3,654,636 |
| Series N, Insured: AG | ||
| 5.50%, due 7/1/50 | 30,850,000 | 33,161,007 |
| Series N, Insured: AG | ||
| 5.50%, due 7/1/55 | 14,500,000 | 15,421,172 |
| Series N, Insured: AG-CR | ||
| 5.50%, due 7/1/55 | 20,000,000 | 21,308,832 |
| Massachusetts Educational Financing Authority, Revenue Bonds, Senior Lien (b) | ||
| Series B | ||
| 5.00%, due 7/1/28 | 2,000,000 | 2,089,154 |
| Series B | ||
| 5.00%, due 7/1/30 | 3,960,000 | 4,256,775 |
| Massachusetts Housing Finance Agency, Revenue Bonds | ||
| Series 220, Insured: GNMA / FNMA / FHLMC | ||
| 2.125%, due 12/1/40 | 6,670,000 | 5,158,729 |
| Series 222, Insured: GNMA / FNMA / FHLMC | ||
| 2.30%, due 12/1/41 | 4,115,000 | 3,225,907 |
| Series 220, Insured: GNMA / FNMA / FHLMC | ||
| 2.30%, due 12/1/44 | 4,500,000 | 3,239,200 |
| Series A-1, Insured: FHA 542(C) | ||
| 3.00%, due 12/1/45 | 2,205,000 | 1,772,188 |
| Series 249, Insured: GNMA / FNMA / FHLMC | ||
| 5.00%, due 12/1/50 | 5,485,000 | 5,622,310 |
| Massachusetts Water Resources Authority, Revenue Bonds | ||
| Series D | ||
| 3.00%, due 8/1/42 | 29,000,000 | 25,250,770 |
| Town of Belmont, Limited General Obligation | ||
| 2.00%, due 6/1/34 | 3,175,000 | 2,921,627 |
| Town of Middleton, Limited General Obligation | ||
| 2.00%, due 12/15/39 | 2,675,000 | 2,141,141 |
| Town of Stoneham, Limited General Obligation | ||
| 2.25%, due 1/15/39 | 4,430,000 | 3,774,260 |
| 196,930,455 | ||
| Michigan 1.5% | ||
| Great Lakes Water Authority, Sewage Disposal System, Revenue Bonds, Second Lien | ||
| Series C | ||
| 5.00%, due 7/1/36 | 2,435,000 | 2,454,571 |
| Series B | ||
| 5.50%, due 7/1/52 | 7,470,000 | 7,899,925 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Michigan | ||
| Great Lakes Water Authority, Sewage Disposal System, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 5.25%, due 7/1/52 | $ 5,000,000 | $ 5,235,746 |
| Great Lakes Water Authority, Water Supply System, Revenue Bonds, Second Lien | ||
| Series B | ||
| 5.50%, due 7/1/52 | 6,305,000 | 6,671,478 |
| Holly Area School District, Unlimited General Obligation | ||
| Series I, Insured: Q-SBLF | ||
| 5.25%, due 5/1/48 | 3,415,000 | 3,573,315 |
| Lapeer Community Schools, Unlimited General Obligation | ||
| Insured: AG | ||
| 5.25%, due 5/1/46 | 9,000,000 | 9,515,489 |
| Michigan Finance Authority, Trinity Health Credit Group, Revenue Bonds | ||
| Series MI-3 | ||
| 3.75%, due 12/1/38 (a) | 7,000,000 | 7,284,271 |
| Michigan Finance Authority, Trinity Health Corp., Revenue Bonds | ||
| Series MI-2 | ||
| 3.875%, due 12/1/44 (a)(e) | 11,000,000 | 11,009,228 |
| Series MI | ||
| 5.25%, due 12/1/41 | 11,940,000 | 12,003,905 |
| Michigan Finance Authority, McLaren Health Care Corp., Revenue Bonds | ||
| Series A | ||
| 4.00%, due 2/15/44 | 25,500,000 | 23,772,334 |
| Michigan Finance Authority, Trinity Health Corp. Obligated Group, Revenue Bonds | ||
| Series MI | ||
| 4.00%, due 12/1/45 | 7,725,000 | 7,116,177 |
| Michigan Finance Authority, Beaumont Health Obligated Group, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 11/1/44 | 4,660,000 | 4,662,101 |
| Michigan State Housing Development Authority, Rental Housing, Revenue Bonds | ||
| Series A | ||
| 3.75%, due 4/1/27 | 8,120,000 | 8,121,398 |
| Michigan State Housing Development Authority, Revenue Bonds | ||
| Series A | ||
| 4.35%, due 10/1/47 | 9,095,000 | 8,766,105 |
| Series A | ||
| 4.70%, due 12/1/43 | 4,800,000 | 4,901,127 |
| Southgate Community School District, Unlimited General Obligation | ||
| Series II, Insured: Q-SBLF | ||
| 5.25%, due 5/1/49 | 9,440,000 | 9,993,631 |
| State of Michigan, Trunk Line, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 11/15/44 | 8,500,000 | 8,297,447 |
| 141,278,248 | ||
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Minnesota 1.0% | ||
| County of Washington, Unlimited General Obligation | ||
| Series A | ||
| 2.25%, due 2/1/28 | $ 5,075,000 | $ 5,020,127 |
| Elk River Independent School District No. 728, Unlimited General Obligation | ||
| Series A, Insured: SD CRED PROG | ||
| 2.25%, due 2/1/36 | 5,250,000 | 4,613,792 |
| Series A, Insured: SD CRED PROG | ||
| 2.50%, due 2/1/38 | 9,000,000 | 7,773,649 |
| Minneapolis-St. Paul Metropolitan Airports Commission, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 1/1/28 (b) | 5,000,000 | 5,216,403 |
| Minnesota Housing Finance Agency, Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 2.80%, due 1/1/44 | 2,915,000 | 2,348,009 |
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 3.00%, due 1/1/52 | 4,740,000 | 4,694,165 |
| Series U, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/55 | 19,870,000 | 22,562,153 |
| Minnesota Housing Finance Agency, Residential Housing Finance, Revenue Bonds | ||
| Series R, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/54 | 5,285,000 | 5,783,800 |
| Moorhead Independent School District No. 152, Unlimited General Obligation | ||
| Series A, Insured: SD CRED PROG | ||
| 2.50%, due 2/1/38 | 8,000,000 | 6,996,770 |
| Mounds View Independent School District No. 621, School Building, Unlimited General Obligation | ||
| Series A, Insured: SD CRED PROG | ||
| 3.55%, due 2/1/38 | 8,000,000 | 7,877,286 |
| State of Minnesota, Unlimited General Obligation | ||
| Series B | ||
| 1.625%, due 8/1/37 | 4,000,000 | 3,128,110 |
| White Bear Lake Independent School District No. 624, Unlimited General Obligation | ||
| Series A, Insured: SD CRED PROG | ||
| 2.50%, due 2/1/39 | 8,300,000 | 7,109,782 |
| Series A, Insured: SD CRED PROG | ||
| 2.50%, due 2/1/40 | 8,105,000 | 6,801,955 |
| Series A, Insured: SD CRED PROG | ||
| 3.00%, due 2/1/43 | 4,060,000 | 3,426,467 |
| 93,352,468 | ||
| Mississippi 0.1% | ||
| Mississippi Home Corp., Jackson Housing Portfolio Project, Revenue Bonds | ||
| Series 1, Insured: HUD Sector 8 FNMA | ||
| 4.55%, due 4/1/42 | 4,980,000 | 5,104,666 |
| Mississippi Home Corp., Revenue Bonds | ||
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 5.00%, due 12/1/39 | 7,500,000 | 8,170,913 |
| 13,275,579 | ||
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Missouri 0.8% | ||
| Health & Educational Facilities Authority of the State of Missouri, Mercy Health, Revenue Bonds | ||
| 3.00%, due 6/1/53 | $ 5,760,000 | $ 4,109,540 |
| 5.50%, due 12/1/48 | 16,245,000 | 17,277,066 |
| Health & Educational Facilities Authority of the State of Missouri, St Luke's Health System, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 11/15/48 | 8,500,000 | 7,783,118 |
| Health & Educational Facilities Authority of the State of Missouri, CoxHealth, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 11/15/49 | 6,750,000 | 6,074,158 |
| Health & Educational Facilities Authority of the State of Missouri, BJC Healthcare, Revenue Bonds | ||
| Series D | ||
| 4.00%, due 1/1/58 (a) | 13,020,000 | 11,790,723 |
| Missouri Housing Development Commission, First Place Homeownership Loan Program, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 4.25%, due 5/1/47 | 1,060,000 | 1,074,262 |
| Series F, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 5/1/56 | 14,500,000 | 16,192,217 |
| Missouri State Environmental Improvement & Energy Resources Authority, Revenue Bonds | ||
| Series C | ||
| 2.75%, due 9/1/33 | 8,000,000 | 7,589,964 |
| Missouri State Environmental Improvement & Energy Resources Authority, Union Electric Co., Revenue Bonds | ||
| Series B | ||
| 2.90%, due 9/1/33 | 5,000,000 | 4,732,590 |
| 76,623,638 | ||
| Nebraska 1.5% | ||
| County of Sarpy, Highway Allocation Fund, Limited General Obligation | ||
| 1.875%, due 6/1/39 | 2,890,000 | 2,200,557 |
| Douglas County Hospital Authority No. 3, Nebraska Methodist Health System, Revenue Bonds | ||
| 5.00%, due 11/1/49 | 3,705,000 | 3,794,363 |
| Nebraska Investment Finance Authority, Revenue Bonds | ||
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 4.55%, due 9/1/44 | 5,175,000 | 5,227,142 |
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 4.70%, due 9/1/49 | 8,750,000 | 8,775,519 |
| Series G, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 9/1/55 | 12,485,000 | 14,223,070 |
| Omaha Public Power District, Electric System, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 2/1/47 | 17,500,000 | 18,108,099 |
| Omaha Public Power District, Revenue Bonds | ||
| Series A | ||
| 5.25%, due 2/1/52 | 16,680,000 | 17,488,823 |
| Series A | ||
| 5.50%, due 2/1/54 | 27,500,000 | 29,479,956 |
| Omaha School District, Unlimited General Obligation | ||
| 1.75%, due 12/15/36 | 7,635,000 | 6,166,491 |
| 1.75%, due 12/15/37 | 6,755,000 | 5,300,530 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Nebraska | ||
| Village of Boys Town Projects, Revenue Bonds | ||
| 5.00%, due 7/1/46 | $ 25,500,000 | $ 26,473,192 |
| 137,237,742 | ||
| Nevada 0.6% | ||
| City of Reno, Capital Improvement, Revenue Bonds | ||
| Series A-1, Insured: AG | ||
| 4.00%, due 6/1/46 | 1,600,000 | 1,523,366 |
| Clark County School District, Limited General Obligation | ||
| Series B, Insured: BAM | ||
| 3.00%, due 6/15/36 | 5,500,000 | 5,228,780 |
| Las Vegas Convention & Visitors Authority, Convention Center Expansion, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 7/1/49 | 32,845,000 | 29,615,972 |
| Series B | ||
| 5.00%, due 7/1/43 | 10,000,000 | 10,280,016 |
| Series A | ||
| 5.00%, due 7/1/49 | 8,150,000 | 8,434,059 |
| 55,082,193 | ||
| New Hampshire 2.8% | ||
| New Hampshire Business Finance Authority, St. Luke's Hospital Obligated Group, Revenue Bonds | ||
| Series B, Insured: AG | ||
| 3.00%, due 8/15/46 | 2,995,000 | 2,362,912 |
| New Hampshire Business Finance Authority, Revenue Bonds | ||
| Series 2 | ||
| 3.625%, due 8/20/39 | 19,710,506 | 19,258,391 |
| Series 4, Class A | ||
| 4.064%, due 11/20/39 (a) | 18,847,093 | 18,943,015 |
| Series 1, Class A | ||
| 4.086%, due 1/20/41 (a) | 7,445,665 | 7,443,323 |
| Series 2, Class A-1 | ||
| 4.086%, due 11/20/42 (a) | 29,374,655 | 28,904,461 |
| Series 2 | ||
| 4.25%, due 7/20/41 | 4,402,132 | 4,467,817 |
| Series 3, Class A-1 | ||
| 4.795%, due 2/20/41 (a) | 23,969,864 | 25,339,548 |
| New Hampshire Business Finance Authority, Sustainable Certificates, Revenue Bonds | ||
| Series 3, Class A | ||
| 4.163%, due 10/1/51 | 15,604,123 | 15,748,545 |
| New Hampshire Business Finance Authority, Adventist Health Energy Project, Revenue Bonds | ||
| Series C | ||
| 5.25%, due 7/1/54 | 8,250,000 | 8,137,349 |
| New Hampshire Business Finance Authority, Centurion Foundation Andrews Avenue Med Center LLC, Revenue Bonds | ||
| 5.625%, due 9/15/57 | 36,300,000 | 35,826,906 |
| New Hampshire Business Finance Authority, Wheeling Power Co., Revenue Bonds | ||
| Series A | ||
| 6.89%, due 4/1/34 (e) | 59,175,000 | 62,457,076 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New Hampshire | ||
| New Hampshire Housing Finance Authority, Revenue Bonds | ||
| Series E, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/56 | $ 12,250,000 | $ 14,083,652 |
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 6,595,000 | 7,278,749 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 1/1/56 | 10,195,000 | 11,696,960 |
| 261,948,704 | ||
| New Jersey 2.1% | ||
| New Jersey Economic Development Authority, New Jersey-American Water Co., Inc., Revenue Bonds (a)(b) | ||
| Series D | ||
| 1.10%, due 11/1/29 | 6,500,000 | 6,171,287 |
| Series A | ||
| 2.20%, due 10/1/39 | 10,000,000 | 9,490,266 |
| Series B | ||
| 3.75%, due 11/1/34 | 4,625,000 | 4,691,225 |
| New Jersey Economic Development Authority, The Goethals Bridge Replacement Project, Revenue Bonds | ||
| 5.00%, due 1/1/28 (b) | 1,000,000 | 1,002,151 |
| New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 7/1/36 | 3,420,000 | 3,423,596 |
| New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Senior Lien | ||
| Series B | ||
| 4.25%, due 12/1/45 (b) | 5,000,000 | 5,111,301 |
| New Jersey Housing & Mortgage Finance Agency, Revenue Bonds | ||
| Series M | ||
| 4.75%, due 10/1/40 | 4,250,000 | 4,458,198 |
| Series M | ||
| 5.10%, due 10/1/50 | 4,935,000 | 5,024,248 |
| New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds | ||
| Series C, Insured: NATL-RE | ||
| (zero coupon), due 12/15/30 | 6,000,000 | 5,266,509 |
| Series C, Insured: AG | ||
| (zero coupon), due 12/15/34 | 25,900,000 | 19,822,513 |
| Series A | ||
| (zero coupon), due 12/15/37 | 25,000,000 | 16,491,850 |
| Series A | ||
| 5.00%, due 12/15/26 | 3,500,000 | 3,583,475 |
| New Jersey Transportation Trust Fund Authority, State of New Jersey, Revenue Bonds | ||
| Series AA | ||
| 5.25%, due 6/15/41 | 8,235,000 | 9,327,461 |
| New Jersey Transportation Trust Fund Authority, Transportation Program, Revenue Bonds | ||
| Series AA | ||
| 5.25%, due 6/15/43 | 10,525,000 | 10,938,154 |
| New Jersey Turnpike Authority, Revenue Bonds | ||
| Series C | ||
| 5.00%, due 1/1/45 | 11,600,000 | 12,438,342 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New Jersey | ||
| New Jersey Turnpike Authority, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 1/1/46 | $ 14,150,000 | $ 14,938,471 |
| Series B | ||
| 5.25%, due 1/1/52 | 35,000,000 | 36,775,708 |
| State of New Jersey, Various Purpose, Unlimited General Obligation | ||
| 2.00%, due 6/1/37 | 7,500,000 | 6,299,682 |
| 5.00%, due 6/1/40 | 5,585,000 | 5,943,911 |
| Tobacco Settlement Financing Corp., Revenue Bonds | ||
| Series A | ||
| 5.00%, due 6/1/30 | 6,815,000 | 7,168,533 |
| Series A | ||
| 5.00%, due 6/1/33 | 3,250,000 | 3,375,779 |
| Township of Edison, Unlimited General Obligation | ||
| 2.00%, due 3/15/36 | 4,545,000 | 3,894,093 |
| 195,636,753 | ||
| New Mexico 0.3% | ||
| New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare Services, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 8/1/39 | 1,500,000 | 1,486,341 |
| New Mexico Mortgage Finance Authority, Single-Family Mortgage Program, Revenue Bonds | ||
| Series C, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 3.00%, due 1/1/52 | 5,850,000 | 5,783,750 |
| New Mexico Mortgage Finance Authority, Revenue Bonds | ||
| Series D, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 3.00%, due 7/1/52 | 8,100,000 | 8,012,962 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 3.00%, due 3/1/53 | 11,470,000 | 11,346,305 |
| New Mexico Mortgage Finance Authority, Single Family Mortgage Program, Revenue Bonds | ||
| Series A, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 5.75%, due 3/1/56 | 3,700,000 | 4,088,980 |
| 30,718,338 | ||
| New York 11.3% | ||
| City of New York, Unlimited General Obligation | ||
| Series A, Insured: BAM | ||
| 3.00%, due 8/1/36 | 9,200,000 | 8,895,516 |
| Series E-1 | ||
| 4.00%, due 4/1/42 | 8,760,000 | 8,647,674 |
| Series F-1 | ||
| 5.00%, due 3/1/43 | 4,000,000 | 4,207,964 |
| Series B-1 | ||
| 5.25%, due 10/1/33 | 6,260,000 | 6,521,342 |
| Series G-1 | ||
| 5.25%, due 2/1/45 | 5,000,000 | 5,407,209 |
| Series D | ||
| 5.50%, due 4/1/46 | 23,215,000 | 25,035,365 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New York | ||
| Dormitory Authority of the State of New York, Cornell University, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 7/1/54 | $ 37,185,000 | $ 40,311,783 |
| Hudson Yards Infrastructure Corp., Second Indenture, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 2/15/39 | 4,500,000 | 4,586,301 |
| Long Island Power Authority, Electric System, Revenue Bonds | ||
| 5.00%, due 9/1/37 | 2,000,000 | 2,111,539 |
| Metropolitan Transportation Authority, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 11/15/36 | 3,500,000 | 3,502,148 |
| Series B-1 | ||
| 5.00%, due 11/15/42 | 10,000,000 | 11,046,797 |
| Series B-2 | ||
| 5.00%, due 11/15/48 | 5,000,000 | 5,203,306 |
| Series A | ||
| 5.25%, due 11/15/49 | 13,330,000 | 13,899,523 |
| Metropolitan Transportation Authority, Special Tax | ||
| Series A | ||
| 5.00%, due 11/15/49 | 5,000,000 | 5,189,594 |
| Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
| Series D | ||
| 5.00%, due 11/15/44 | 5,750,000 | 5,960,046 |
| Metropolitan Transportation Authority, Metropolitan Transportation Authority Dedicated Tax Fund, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 11/15/45 | 6,725,000 | 7,052,754 |
| New York City Housing Development Corp., Sustainable Neighborhood, Revenue Bonds | ||
| Series E-1 | ||
| 3.00%, due 11/1/39 | 3,135,000 | 2,871,724 |
| Series A-1 | ||
| 4.15%, due 11/1/38 | 14,250,000 | 14,260,016 |
| Series A-1 | ||
| 4.25%, due 11/1/43 | 5,380,000 | 5,288,924 |
| New York City Housing Development Corp., Triborough Preservation LLC, Revenue Bonds | ||
| Series A-1 | ||
| 3.95%, due 11/15/44 | 3,000,000 | 2,799,684 |
| New York City Housing Development Corp., Revenue Bonds | ||
| Series C-1-B | ||
| 3.95%, due 11/1/48 | 7,355,000 | 6,599,564 |
| Series F-1-A | ||
| 4.30%, due 11/1/44 | 5,650,000 | 5,545,448 |
| Series F-1-A | ||
| 4.55%, due 11/1/54 | 5,400,000 | 5,236,420 |
| New York City Municipal Water Finance Authority, Water & Sewer System Second General Resolution, Revenue Bonds | ||
| Series BB-1 | ||
| 3.00%, due 6/15/44 | 32,510,000 | 26,827,024 |
| Series DD-1 | ||
| 3.00%, due 6/15/50 | 3,765,000 | 2,830,456 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New York | ||
| New York City Municipal Water Finance Authority, Water & Sewer System Second General Resolution, Revenue Bonds | ||
| Series BB-1 | ||
| 4.00%, due 6/15/45 | $ 7,250,000 | $ 6,951,753 |
| Series BB-1 | ||
| 5.00%, due 6/15/44 | 3,250,000 | 3,446,228 |
| New York City Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds | ||
| Series BB | ||
| 5.00%, due 6/15/43 | 6,915,000 | 7,613,855 |
| Series BB-1 | ||
| 5.25%, due 6/15/54 | 4,120,000 | 4,306,687 |
| Series CC-1 | ||
| 5.25%, due 6/15/54 | 7,070,000 | 7,417,182 |
| New York City Transitional Finance Authority, Building Aid, Revenue Bonds | ||
| Series S-1A, Insured: State Aid Withholding | ||
| 3.00%, due 7/15/39 | 5,000,000 | 4,585,524 |
| Series S-1B, Insured: State Aid Withholding | ||
| 3.00%, due 7/15/49 | 10,000,000 | 7,459,616 |
| New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
| Series C-1 | ||
| 4.00%, due 11/1/42 | 6,355,000 | 6,291,878 |
| Series E-1 | ||
| 4.00%, due 2/1/46 | 15,105,000 | 14,041,798 |
| Series C-3 | ||
| 5.00%, due 5/1/41 | 5,250,000 | 5,432,165 |
| Series C-1 | ||
| 5.00%, due 5/1/42 | 5,295,000 | 5,803,933 |
| Series H-1 | ||
| 5.25%, due 11/1/45 | 3,065,000 | 3,326,151 |
| Series C | ||
| 5.25%, due 5/1/48 | 7,000,000 | 7,371,477 |
| Series C | ||
| 5.50%, due 5/1/42 | 10,000,000 | 11,243,200 |
| Series C | ||
| 5.50%, due 5/1/43 | 5,000,000 | 5,537,370 |
| Series C | ||
| 5.50%, due 5/1/44 | 22,000,000 | 24,305,492 |
| Series D-1 | ||
| 5.50%, due 11/1/45 | 14,760,000 | 16,005,695 |
| Series C | ||
| 5.50%, due 5/1/53 | 12,500,000 | 13,245,294 |
| New York City Transitional Finance Authority, Revenue Bonds | ||
| Series A-1 | ||
| 5.00%, due 5/1/40 | 4,400,000 | 4,956,717 |
| Series H-1 | ||
| 5.00%, due 11/1/41 | 3,890,000 | 4,317,756 |
| Series E | ||
| 5.00%, due 11/1/42 | 8,865,000 | 9,719,328 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New York | ||
| New York City Transitional Finance Authority, Revenue Bonds | ||
| Series C-1 | ||
| 5.25%, due 5/1/49 | $ 2,715,000 | $ 2,861,018 |
| Series E | ||
| 5.50%, due 11/1/49 | 17,250,000 | 18,509,968 |
| Series H-1 | ||
| 5.50%, due 11/1/51 | 5,545,000 | 5,939,424 |
| New York Liberty Development Corp., Port Authority of New York & New Jersey, Revenue Bonds | ||
| Series 1WTC | ||
| 2.25%, due 2/15/41 | 2,830,000 | 2,220,365 |
| New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Revenue Bonds | ||
| 2.45%, due 9/15/69 | 11,125,000 | 10,547,539 |
| New York Liberty Development Corp., 4 World Trade Center Project, Revenue Bonds | ||
| Series A | ||
| 2.50%, due 11/15/36 | 4,000,000 | 3,545,637 |
| Series A | ||
| 2.75%, due 11/15/41 | 14,255,000 | 11,478,097 |
| Series A | ||
| 2.875%, due 11/15/46 | 31,600,000 | 23,611,552 |
| New York Liberty Development Corp., 1 World Trade Center Project, Revenue Bonds | ||
| Insured: BAM | ||
| 2.75%, due 2/15/44 | 18,000,000 | 13,851,189 |
| Insured: AG-CR | ||
| 3.00%, due 2/15/42 | 22,150,000 | 19,428,875 |
| Insured: BAM | ||
| 4.00%, due 2/15/43 | 3,250,000 | 3,195,149 |
| New York State Dormitory Authority, Fordham University, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 7/1/38 | 10,065,000 | 9,394,725 |
| New York State Dormitory Authority, NYU Langone Hospitals Obligated Group, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 7/1/48 | 9,000,000 | 6,726,938 |
| Series A | ||
| 4.00%, due 7/1/50 | 6,360,000 | 5,665,273 |
| New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 3/15/39 | 17,200,000 | 17,581,733 |
| Series A | ||
| 4.00%, due 3/15/40 | 13,840,000 | 14,031,136 |
| Series E | ||
| 4.00%, due 3/15/45 | 2,550,000 | 2,442,547 |
| Series A | ||
| 5.00%, due 3/15/46 | 4,750,000 | 4,950,669 |
| New York State Dormitory Authority, School Districts Financing Program, Revenue Bonds | ||
| Series A, Insured: BAM | ||
| 5.00%, due 10/1/36 | 3,750,000 | 4,098,821 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New York | ||
| New York State Dormitory Authority, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 3/15/41 | $ 5,000,000 | $ 5,577,832 |
| Series A | ||
| 5.00%, due 3/15/48 | 13,690,000 | 14,243,251 |
| New York State Dormitory Authority, New York University, Revenue Bonds | ||
| Series A, Insured: NATL-RE | ||
| 5.75%, due 7/1/27 | 1,395,000 | 1,437,635 |
| New York State Environmental Facilities Corp., Clean Water & Drinking Water, Revenue Bonds | ||
| Series B | ||
| 3.00%, due 6/15/38 | 8,100,000 | 7,698,617 |
| New York State Thruway Authority, Revenue Bonds | ||
| Series B, Insured: AG-CR | ||
| 3.00%, due 1/1/46 | 9,715,000 | 7,577,398 |
| Series A | ||
| 5.00%, due 3/15/40 | 5,000,000 | 5,747,334 |
| New York State Thruway Authority, State Personal Income Tax, Revenue Bonds | ||
| Series A-1 | ||
| 4.00%, due 3/15/43 | 4,725,000 | 4,684,485 |
| New York State Urban Development Corp., Sales Tax, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 3/15/40 | 4,550,000 | 4,104,006 |
| Series A | ||
| 4.00%, due 3/15/37 | 11,875,000 | 12,208,095 |
| Series A | ||
| 4.00%, due 3/15/38 | 5,550,000 | 5,678,008 |
| New York State Urban Development Corp., Personal Income Tax, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 3/15/42 | 10,000,000 | 10,798,776 |
| New York Transportation Development Corp., LaGuardia Airport Terminal B Redevelopment Project, Revenue Bonds (b) | ||
| Series A, Insured: AG | ||
| 4.00%, due 7/1/35 | 10,730,000 | 10,729,803 |
| Series A, Insured: AG | ||
| 4.00%, due 7/1/37 | 10,000,000 | 9,976,419 |
| New York Transportation Development Corp., Terminal 4 John F. Kennedy International Airport Project, Revenue Bonds (b) | ||
| Insured: AG-CR | ||
| 5.00%, due 12/1/27 | 4,250,000 | 4,421,380 |
| Insured: AG-CR | ||
| 5.00%, due 12/1/28 | 4,250,000 | 4,512,848 |
| Insured: AG-CR | ||
| 5.00%, due 12/1/29 | 7,900,000 | 8,551,378 |
| 5.00%, due 12/1/30 | 10,000,000 | 10,900,229 |
| 5.00%, due 12/1/34 | 4,000,000 | 4,396,121 |
| 5.00%, due 12/1/36 | 2,000,000 | 2,165,726 |
| 5.00%, due 12/1/37 | 3,000,000 | 3,227,469 |
| 5.00%, due 12/1/40 | 2,875,000 | 3,037,980 |
| Insured: AG | ||
| 5.50%, due 6/30/43 | 5,015,000 | 5,301,971 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New York | ||
| New York Transportation Development Corp., JFK International Airport New Terminal One Project, Revenue Bonds | ||
| Insured: AG | ||
| 5.00%, due 6/30/49 (b) | $ 6,000,000 | $ 6,007,503 |
| New York Transportation Development Corp., JFK NTO LLC, Revenue Bonds | ||
| Insured: AG | ||
| 5.00%, due 6/30/49 (b) | 4,310,000 | 4,311,814 |
| New York Transportation Development Corp., JFK Airport Terminal 6 Redevelopment Project, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.25%, due 12/31/54 (b) | 20,000,000 | 20,335,464 |
| New York Transportation Development Corp., JFK International Airport, Revenue Bonds | ||
| Insured: AG | ||
| 6.00%, due 6/30/50 (b) | 19,340,000 | 21,004,427 |
| Port Authority of New York & New Jersey, Revenue Bonds (b) | ||
| 4.00%, due 3/15/35 | 9,250,000 | 9,373,188 |
| Series 218 | ||
| 4.00%, due 11/1/41 | 6,560,000 | 6,508,550 |
| Series 223 | ||
| 4.00%, due 7/15/46 | 4,175,000 | 3,760,389 |
| Series 242 | ||
| 5.00%, due 12/1/30 | 10,000,000 | 11,008,974 |
| Series 242 | ||
| 5.00%, due 12/1/31 | 18,000,000 | 20,079,979 |
| Series 246 | ||
| 5.00%, due 9/1/32 | 7,700,000 | 8,652,445 |
| Series 242 | ||
| 5.00%, due 12/1/35 | 5,000,000 | 5,636,641 |
| Series 231 | ||
| 5.50%, due 8/1/40 | 9,205,000 | 10,190,578 |
| Series 231 | ||
| 5.50%, due 8/1/42 | 2,750,000 | 3,001,018 |
| Series 231 | ||
| 5.50%, due 8/1/47 | 15,250,000 | 16,148,803 |
| State of New York, Mortgage Agency, Revenue Bonds | ||
| Series 227 | ||
| 2.30%, due 10/1/40 | 6,250,000 | 4,998,307 |
| Series 239, Insured: SONYMA | ||
| 2.60%, due 10/1/44 | 13,955,000 | 10,623,516 |
| State of New York Mortgage Agency Homeowner Mortgage, Revenue Bonds | ||
| Series 242, Insured: SONYMA | ||
| 3.25%, due 10/1/47 | 4,250,000 | 3,408,867 |
| Series 242, Insured: SONYMA | ||
| 3.30%, due 10/1/47 | 3,925,000 | 3,158,814 |
| Suffolk County Water Authority, Waterworks, Revenue Bonds | ||
| Series A | ||
| 3.75%, due 6/1/36 | 4,900,000 | 4,901,542 |
| Town of Hempstead, Limited General Obligation | ||
| 2.00%, due 6/15/36 | 6,070,000 | 5,209,242 |
| 2.125%, due 6/15/38 | 6,720,000 | 5,580,871 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| New York | ||
| Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds, Senior Lien | ||
| Series C-3 | ||
| 3.00%, due 5/15/51 | $ 15,000,000 | $ 10,964,832 |
| Series C-3, Insured: AG-CR | ||
| 3.00%, due 5/15/51 | 16,010,000 | 11,787,422 |
| Series C | ||
| 5.25%, due 11/15/40 | 5,000,000 | 5,670,341 |
| Series D-2 | ||
| 5.25%, due 5/15/47 | 22,750,000 | 23,990,974 |
| Series D-2 | ||
| 5.50%, due 5/15/52 | 25,000,000 | 26,496,677 |
| Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 3/15/27 | 15,500,000 | 15,982,399 |
| Series B | ||
| 5.00%, due 11/15/37 | 2,850,000 | 2,929,831 |
| Series A | ||
| 5.00%, due 11/15/43 | 4,000,000 | 4,118,170 |
| Series A | ||
| 5.00%, due 5/15/48 | 4,500,000 | 4,676,927 |
| Series A | ||
| 5.00%, due 5/15/53 | 5,250,000 | 5,402,488 |
| Series A | ||
| 5.25%, due 5/15/52 | 4,340,000 | 4,516,299 |
| Series A | ||
| 5.25%, due 12/1/54 | 4,585,000 | 4,829,332 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds | ||
| Series A-1 | ||
| 5.25%, due 5/15/64 | 11,000,000 | 11,460,937 |
| TSASC, Inc., Tobacco Settlement Bonds, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 6/1/33 | 5,890,000 | 5,997,867 |
| Series A | ||
| 5.00%, due 6/1/41 | 2,500,000 | 2,514,447 |
| 1,055,514,511 | ||
| North Carolina 0.7% | ||
| City of Fayetteville, Public Works Commission, Revenue Bonds | ||
| 2.00%, due 3/1/35 | 3,330,000 | 2,982,011 |
| 2.00%, due 3/1/37 | 3,465,000 | 2,935,009 |
| 2.00%, due 3/1/38 | 3,535,000 | 2,922,469 |
| 2.125%, due 3/1/39 | 3,605,000 | 2,960,261 |
| 2.125%, due 3/1/40 | 3,680,000 | 2,918,351 |
| County of Pender, Unlimited General Obligation | ||
| 3.00%, due 3/1/41 | 5,000,000 | 4,564,867 |
| 3.00%, due 3/1/42 | 5,000,000 | 4,455,580 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| North Carolina | ||
| County of Union, Unlimited General Obligation | ||
| Series C | ||
| 2.50%, due 9/1/36 | $ 4,000,000 | $ 3,704,143 |
| North Carolina Housing Finance Agency, Revenue Bonds | ||
| Series 39-B, Insured: GNMA / FNMA / FHLMC | ||
| 4.00%, due 7/1/48 | 1,545,000 | 1,558,079 |
| Series 42, Insured: GNMA / FNMA / FHLMC | ||
| 4.00%, due 1/1/50 | 1,850,000 | 1,870,237 |
| Series 49, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 7/1/53 | 6,365,000 | 6,809,875 |
| Series 52-A, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 1/1/55 | 8,555,000 | 9,332,267 |
| North Carolina Housing Finance Agency, 1998 Trust Agreement, Revenue Bonds | ||
| Series 57-A, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 1/1/56 | 8,970,000 | 10,196,833 |
| Series 59-A, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 1/1/57 | 9,250,000 | 10,655,329 |
| 67,865,311 | ||
| North Dakota 0.1% | ||
| North Dakota Housing Finance Agency, Home Mortgage Finance Project, Revenue Bonds | ||
| Series A | ||
| 2.05%, due 7/1/36 | 2,400,000 | 2,031,420 |
| North Dakota Housing Finance Agency, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 1/1/52 | 3,425,000 | 3,394,849 |
| North Dakota Housing Finance Agency, Home Mortgate Finance Program, Revenue Bonds | ||
| Series C | ||
| 4.25%, due 7/1/40 | 5,030,000 | 5,154,316 |
| North Dakota Housing Finance Agency, Sustainable Bond, Revenue Bonds | ||
| Series C | ||
| 5.00%, due 7/1/42 | 1,500,000 | 1,628,827 |
| 12,209,412 | ||
| Ohio 1.0% | ||
| Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Senior Lien | ||
| Series A-2 | ||
| 3.00%, due 6/1/48 | 31,105,000 | 21,998,797 |
| Buckeye Tobacco Settlement Financing Authority, Senior Living Project, Revenue Bonds, Senior Lien | ||
| Series A-2, Class 1 | ||
| 5.00%, due 6/1/35 | 4,250,000 | 4,486,413 |
| Columbus Regional Airport Authority, John Glenn Columbus International Airport, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 1/1/37 (b) | 4,800,000 | 5,324,019 |
| Northeast Ohio Regional Sewer District, Revenue Bonds | ||
| 3.25%, due 11/15/40 | 2,000,000 | 1,850,424 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Ohio | ||
| Ohio Air Quality Development Authority, American Electric Power Co., Inc., Revenue Bonds | ||
| Series B | ||
| 2.60%, due 6/1/41 (a)(b) | $ 3,000,000 | $ 2,907,161 |
| Ohio Higher Educational Facility Commission, Ashtabula County Medical Center Obligated Group, Revenue Bonds | ||
| 5.00%, due 1/1/30 | 210,000 | 224,047 |
| 5.00%, due 1/1/34 | 360,000 | 389,938 |
| 5.25%, due 1/1/36 | 495,000 | 540,817 |
| 5.25%, due 1/1/52 | 2,500,000 | 2,491,670 |
| Ohio Housing Finance Agency, Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 2.25%, due 9/1/40 | 1,055,000 | 838,348 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 3/1/56 | 4,975,000 | 5,538,648 |
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 3/1/56 | 4,000,000 | 4,636,546 |
| Ohio Housing Finance Agency, First Tiem Homebuyer Progam, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 3.00%, due 3/1/50 | 2,135,000 | 1,623,888 |
| Ohio Housing Finance Agency, Mortgage-Backed Securities Program, Revenue Bonds | ||
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 6.375%, due 3/1/56 | 10,000,000 | 11,575,189 |
| Worthington City School District, Unlimited General Obligation | ||
| 5.50%, due 12/1/54 | 27,920,000 | 29,625,108 |
| 94,051,013 | ||
| Oklahoma 0.8% | ||
| City of Tulsa, Unlimited General Obligation | ||
| Series A | ||
| 0.05%, due 11/1/40 | 7,670,000 | 4,281,831 |
| Grand River Dam Authority, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 6/1/41 | 6,000,000 | 6,608,184 |
| Lincoln County Educational Facilities Authority, Stroud Public Schools Project, Revenue Bonds | ||
| 5.00%, due 9/1/28 | 2,450,000 | 2,479,925 |
| Oklahoma Housing Finance Agency, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 4.00%, due 9/1/49 | 2,210,000 | 2,233,050 |
| Series E, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 3/1/57 | 7,500,000 | 8,640,298 |
| Oklahoma Turnpike Authority, Revenue Bonds | ||
| 5.50%, due 1/1/53 | 44,455,000 | 47,206,485 |
| 71,449,773 | ||
| Oregon 0.5% | ||
| City of Portland, Limited General Obligation | ||
| Series A | ||
| 2.00%, due 10/1/38 | 2,535,000 | 2,066,497 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Oregon | ||
| City of Portland, Limited General Obligation | ||
| Series A | ||
| 2.00%, due 10/1/39 | $ 2,015,000 | $ 1,605,580 |
| Clackamas County School District No. 12, North Clackamas, Unlimited General Obligation | ||
| Series A, Insured: School Bond Guaranty | ||
| (zero coupon), due 6/15/41 | 835,000 | 429,157 |
| Series A, Insured: School Bond Guaranty | ||
| (zero coupon), due 6/15/41 | 6,965,000 | 3,499,697 |
| Multnomah County School District No. 40, Unlimited General Obligation | ||
| Series B, Insured: School Bond Guaranty | ||
| 5.50%, due 6/15/53 | 7,750,000 | 8,338,078 |
| Port of Portland, Airport, Revenue Bonds (b) | ||
| Series A-27 | ||
| 5.00%, due 7/1/37 | 5,550,000 | 5,881,603 |
| Series 29-A | ||
| 5.00%, due 7/1/45 | 3,300,000 | 3,366,428 |
| Series 29 | ||
| 5.50%, due 7/1/48 | 5,750,000 | 6,062,424 |
| Seaside School District No. 10, Unlimited General Obligation | ||
| Series A, Insured: School Bond Guaranty | ||
| (zero coupon), due 6/15/44 | 6,000,000 | 2,607,224 |
| State of Oregon, Housing & Community Services Department, Revenue Bonds | ||
| Series A | ||
| 3.50%, due 1/1/51 | 3,235,000 | 3,236,570 |
| Tri-County Metropolitan Transportation District of Oregon, Payroll, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 3.00%, due 9/1/44 | 10,905,000 | 9,002,625 |
| 46,095,883 | ||
| Pennsylvania 2.7% | ||
| Allegheny County Airport Authority, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 1/1/38 (b) | 4,165,000 | 4,201,818 |
| Allegheny County Higher Education Building Authority, Duquesne University of the Holy Spirit, Revenue Bonds | ||
| 4.50%, due 3/1/50 (d) | 10,000,000 | 9,592,455 |
| Allegheny County Hospital Development Authority, UPMC Obligated Group, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 10/15/28 | 3,000,000 | 3,200,780 |
| Bethel Park School District, Limited General Obligation | ||
| Insured: State Aid Withholding | ||
| 5.00%, due 8/1/46 | 2,500,000 | 2,645,305 |
| Insured: State Aid Withholding | ||
| 5.50%, due 8/1/48 | 2,500,000 | 2,712,382 |
| City of Philadelphia, Airport, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 7/1/42 (b) | 8,020,000 | 8,121,306 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Pennsylvania | ||
| City of Philadelphia, Water & Wastewater, Revenue Bonds | ||
| Series C | ||
| 5.50%, due 6/1/47 | $ 15,500,000 | $ 16,577,317 |
| Series B, Insured: AG | ||
| 5.50%, due 9/1/53 | 8,865,000 | 9,464,249 |
| Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds | ||
| 5.00%, due 6/1/34 | 3,000,000 | 3,140,210 |
| Pennsylvania Economic Development Financing Authority, UPMC Obligated Group, Revenue Bonds | ||
| Series A-2 | ||
| 4.00%, due 5/15/48 | 6,090,000 | 5,360,913 |
| Series A-2 | ||
| 4.00%, due 5/15/53 | 4,980,000 | 4,300,048 |
| Pennsylvania Economic Development Financing Authority, Penndot Major Bridges Package One Project (The), Revenue Bonds | ||
| 5.75%, due 6/30/48 (b) | 6,140,000 | 6,444,303 |
| Pennsylvania Economic Development Financing Authority, Penndot Major Bridges Project, Revenue Bonds | ||
| Insured: AG | ||
| 5.75%, due 12/31/62 (b) | 25,000,000 | 26,166,037 |
| Pennsylvania Higher Education Assistance Agency, Revenue Bonds, Senior Lien | ||
| Series 1-A | ||
| 4.125%, due 6/1/45 (b) | 11,200,000 | 11,160,611 |
| Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Revenue Bonds | ||
| Series A | ||
| 4.00%, due 8/15/42 | 4,000,000 | 3,920,337 |
| Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University, Revenue Bonds | ||
| Series B-1, Insured: AG | ||
| 5.00%, due 11/1/51 | 28,000,000 | 28,384,815 |
| Series B-1, Insured: AG | ||
| 5.25%, due 11/1/48 | 5,000,000 | 5,219,356 |
| Series B-2 | ||
| 5.50%, due 11/1/54 | 7,000,000 | 7,314,950 |
| Pennsylvania Housing Finance Agency, Revenue Bonds | ||
| Series 121 | ||
| 2.80%, due 10/1/31 | 6,000,000 | 5,936,457 |
| Series 135-A | ||
| 3.00%, due 10/1/51 | 4,185,000 | 4,165,123 |
| Series 138-A | ||
| 3.00%, due 10/1/52 | 5,500,000 | 5,400,646 |
| Series 149-A | ||
| 4.75%, due 10/1/40 | 14,500,000 | 15,252,892 |
| Series A-141 | ||
| 5.75%, due 10/1/53 | 5,225,000 | 5,572,242 |
| Series 145-A | ||
| 6.00%, due 10/1/54 | 4,345,000 | 4,747,180 |
| Series 147-A | ||
| 6.25%, due 10/1/54 | 7,906,887 | 8,774,580 |
| Pennsylvania Housing Finance Agency, Single Family Mortgage, Revenue Bonds | ||
| Series 137 | ||
| 3.00%, due 10/1/51 | 8,465,000 | 8,267,758 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Pennsylvania | ||
| Pennsylvania Turnpike Commission, Revenue Bonds, Second Series | ||
| 5.00%, due 12/1/41 | $ 3,500,000 | $ 3,595,706 |
| Pennsylvania Turnpike Commission, Revenue Bonds | ||
| Series B | ||
| 5.25%, due 12/1/44 | 4,085,000 | 4,396,282 |
| Series A | ||
| 5.50%, due 12/1/46 | 11,250,000 | 11,404,007 |
| Philadelphia Authority for Industrial Development, Children's Hospital of Philadelphia Project, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 7/1/46 | 3,815,000 | 4,022,510 |
| Philadelphia Authority for Industrial Development, St. Joseph's University Project, Revenue Bonds | ||
| 5.25%, due 11/1/52 | 3,250,000 | 3,323,612 |
| State Public School Building Authority, School District of Philadelphia (The), Revenue Bonds | ||
| Series A, Insured: AG State Aid Withholding | ||
| 5.00%, due 6/1/31 | 10,000,000 | 10,173,241 |
| 252,959,428 | ||
| Puerto Rico 1.2% | ||
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Senior Lien (e) | ||
| Series A | ||
| 4.00%, due 7/1/42 | 16,600,000 | 15,799,341 |
| Series A | ||
| 5.00%, due 7/1/47 | 9,000,000 | 8,933,668 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds | ||
| Series B | ||
| 4.00%, due 7/1/42 (e) | 34,665,000 | 32,993,020 |
| Puerto Rico Electric Power Authority, Revenue Bonds | ||
| Series UU, Insured: AG | ||
| 4.25%, due 7/1/27 | 2,345,000 | 2,332,606 |
| Series NN, Insured: NATL-RE | ||
| 4.75%, due 7/1/33 | 1,140,000 | 1,123,016 |
| Series TT, Insured: AG-CR | ||
| 5.00%, due 7/1/27 | 500,000 | 500,110 |
| Series SS, Insured: AG | ||
| 5.00%, due 7/1/30 | 550,000 | 550,116 |
| Series VV, Insured: NATL-RE | ||
| 5.25%, due 7/1/26 | 1,575,000 | 1,577,843 |
| Series VV, Insured: NATL-RE | ||
| 5.25%, due 7/1/29 | 1,470,000 | 1,491,458 |
| Series VV, Insured: NATL-RE | ||
| 5.25%, due 7/1/32 | 1,225,000 | 1,247,714 |
| Series VV, Insured: NATL-RE | ||
| 5.25%, due 7/1/34 | 550,000 | 558,525 |
| Puerto Rico Municipal Finance Agency, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 8/1/27 | 80,000 | 80,246 |
| Series A, Insured: AG | ||
| 5.00%, due 8/1/30 | 1,440,000 | 1,444,679 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Puerto Rico | ||
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds | ||
| Series A-1 | ||
| (zero coupon), due 7/1/46 | $ 27,000,000 | $ 9,402,750 |
| Series A-1 | ||
| (zero coupon), due 7/1/51 | 2,193,000 | 558,341 |
| Insured: BHAC-CR | ||
| (zero coupon), due 8/1/54 | 94,803 | 19,818 |
| Series A-1 | ||
| 4.75%, due 7/1/53 | 14,784,000 | 14,282,728 |
| Puerto Rico Sales Tax Financing Corp., Restructured, Revenue Bonds | ||
| Series A-2 | ||
| 4.329%, due 7/1/40 | 17,442,000 | 17,358,477 |
| 110,254,456 | ||
| Rhode Island 0.2% | ||
| Providence Public Building Authority, Various Capital Projects, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.875%, due 6/15/26 | 355,000 | 355,889 |
| Rhode Island Health and Educational Building Corp., PRG - RI Properties LLC, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.00%, due 7/1/50 | 3,250,000 | 3,270,155 |
| Series A, Insured: AG | ||
| 5.00%, due 7/1/55 | 3,250,000 | 3,256,211 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds | ||
| Series 77-A, Insured: GNMA | ||
| 4.25%, due 4/1/51 | 8,170,000 | 8,365,425 |
| 15,247,680 | ||
| South Carolina 1.3% | ||
| Charleston County Airport District, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 7/1/49 | 5,000,000 | 5,193,759 |
| Patriots Energy Group Financing Agency, Revenue Bonds | ||
| Series B-2 | ||
| 4.352%, due 2/1/54 | 15,000,000 | 15,701,980 |
| South Carolina Jobs-Economic Development Authority, Novant Health Obligated Group, Revenue Bonds | ||
| Series A, Insured: AG-CR | ||
| 4.00%, due 11/1/42 | 3,575,000 | 3,535,214 |
| South Carolina Jobs-Economic Development Authority, AnMed Health, Revenue Bonds | ||
| 4.25%, due 2/1/48 | 11,850,000 | 11,350,754 |
| 5.25%, due 2/1/53 | 8,180,000 | 8,463,625 |
| South Carolina Public Service Authority, Santee Cooper Project, Revenue Bonds | ||
| Series B, Insured: AG-CR | ||
| 4.00%, due 12/1/29 | 367,000 | 385,363 |
| Series A, Insured: AG-CR | ||
| 5.00%, due 12/1/36 | 12,750,000 | 14,156,211 |
| Series E, Insured: AG | ||
| 5.00%, due 12/1/52 | 14,550,000 | 14,875,466 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| South Carolina | ||
| South Carolina Public Service Authority, Santee Cooper Project, Revenue Bonds | ||
| Series E, Insured: AG | ||
| 5.50%, due 12/1/42 | $ 9,125,000 | $ 10,062,168 |
| South Carolina Public Service Authority, Santee Cooper, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 12/1/41 | 3,000,000 | 3,300,562 |
| Series B | ||
| 5.00%, due 12/1/43 | 2,965,000 | 3,187,607 |
| South Carolina Public Service Authority, Santee Cooper project, Revenue Bonds | ||
| Series B, Insured: AG | ||
| 5.00%, due 12/1/42 | 4,605,000 | 5,041,716 |
| South Carolina Public Service Authority, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 12/1/45 | 2,000,000 | 2,107,944 |
| Series B | ||
| 5.25%, due 12/1/54 | 8,875,000 | 9,202,035 |
| South Carolina State Housing Finance & Development Authority, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 9,830,000 | 11,279,446 |
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 5,465,000 | 6,300,562 |
| 124,144,412 | ||
| South Dakota 0.2% | ||
| South Dakota Housing Development Authority, Revenue Bonds | ||
| Series B | ||
| 3.00%, due 11/1/52 | 5,170,000 | 5,120,643 |
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 11/1/55 | 3,925,000 | 4,431,737 |
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 11/1/56 | 3,495,000 | 3,916,947 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 11/1/55 | 4,980,000 | 5,719,090 |
| 19,188,417 | ||
| Tennessee 0.7% | ||
| County of Knox, Unlimited General Obligation | ||
| Series B | ||
| 3.00%, due 6/1/34 | 3,665,000 | 3,659,676 |
| County of Rutherford, Unlimited General Obligation | ||
| 1.625%, due 4/1/34 | 5,375,000 | 4,635,462 |
| 1.875%, due 4/1/39 | 4,120,000 | 3,200,161 |
| Metropolitan Government of Nashville & Davidson County, Water & Sewer, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 7/1/40 | 3,500,000 | 3,148,588 |
| Metropolitan Government of Nashville & Davidson County, Electric, Revenue Bonds | ||
| Series A | ||
| 5.25%, due 5/15/49 | 5,000,000 | 5,323,390 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Tennessee | ||
| Metropolitan Nashville Airport Authority (The), Revenue Bonds | ||
| Series A | ||
| 4.00%, due 7/1/49 | $ 3,500,000 | $ 3,256,629 |
| Series B | ||
| 5.50%, due 7/1/40 (b) | 2,000,000 | 2,211,065 |
| Series B | ||
| 5.50%, due 7/1/41 (b) | 4,770,000 | 5,252,872 |
| Series B | ||
| 5.50%, due 7/1/52 (b) | 3,500,000 | 3,662,539 |
| State of Tennessee, Unlimited General Obligation | ||
| Series A | ||
| 5.00%, due 5/1/42 | 10,000,000 | 10,979,863 |
| Tennergy Corp., Revenue Bonds | ||
| Series A | ||
| 5.00%, due 10/1/54 (a) | 8,835,000 | 9,375,906 |
| Tennessee Energy Acquisition Corp., Gas Project, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 11/1/34 | 4,995,000 | 5,433,523 |
| Tennessee Housing Development Agency, Revenue Bonds | ||
| Series 2 | ||
| 2.50%, due 1/1/31 | 2,020,000 | 1,953,354 |
| 62,093,028 | ||
| Texas 10.1% | ||
| Arlington Higher Education Finance Corp., Riverwalk Education Foundation, Inc., Revenue Bonds | ||
| Insured: PSF-GTD | ||
| 4.50%, due 8/15/45 | 16,235,000 | 16,058,967 |
| Austin Community College District, Limited General Obligation | ||
| 5.25%, due 8/1/53 | 7,550,000 | 7,921,942 |
| Bastrop Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.00%, due 2/15/48 | 6,785,000 | 7,042,882 |
| Boerne Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 3.125%, due 2/1/53 (a) | 8,360,000 | 8,394,775 |
| Central Texas Turnpike System, Revenue Bonds, Second Tier | ||
| Series C | ||
| 5.00%, due 8/15/32 | 5,000,000 | 5,747,384 |
| Series C | ||
| 5.00%, due 8/15/33 | 7,500,000 | 8,713,114 |
| Series C | ||
| 5.00%, due 8/15/34 | 20,000,000 | 23,416,150 |
| Central Texas Turnpike System, Revenue Bonds, First Tier | ||
| Series B | ||
| 5.00%, due 8/15/42 (a) | 11,500,000 | 12,524,334 |
| City of Austin, Electric Utility, Revenue Bonds | ||
| 5.00%, due 11/15/38 | 4,000,000 | 4,636,640 |
| 5.00%, due 11/15/41 | 8,750,000 | 9,863,463 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| City of Austin, Electric Utility, Revenue Bonds | ||
| 5.00%, due 11/15/42 | $ 9,400,000 | $ 10,479,843 |
| 5.00%, due 11/15/43 | 8,750,000 | 9,645,695 |
| City of Celina, Limited General Obligation | ||
| 1.75%, due 9/1/36 | 3,395,000 | 2,771,387 |
| 1.875%, due 9/1/37 | 3,455,000 | 2,772,734 |
| 1.875%, due 9/1/39 | 3,585,000 | 2,721,697 |
| City of Dallas, Limited General Obligation | ||
| Series A, Insured: AG | ||
| 2.25%, due 2/15/40 | 5,035,000 | 3,980,048 |
| City of Dallas, Hotel Occupancy Tax, Revenue Bonds | ||
| 4.00%, due 8/15/36 | 1,150,000 | 1,151,853 |
| City of El Paso, Limited General Obligation | ||
| Insured: BAM | ||
| 4.00%, due 8/15/42 | 125,000 | 126,130 |
| Insured: BAM | ||
| 4.00%, due 8/15/42 | 10,820,000 | 10,729,447 |
| City of Fort Worth, Limited General Obligation | ||
| 2.00%, due 3/1/35 | 5,480,000 | 4,741,430 |
| City of Fort Worth, General purpose, Limited General Obligation | ||
| 2.00%, due 3/1/38 | 5,000,000 | 3,934,312 |
| 2.00%, due 3/1/41 | 5,470,000 | 3,890,548 |
| City of Frisco, Limited General Obligation | ||
| 2.00%, due 2/15/38 | 4,740,000 | 3,839,966 |
| City of Houston, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
| 5.00%, due 9/1/31 | 2,200,000 | 2,204,087 |
| City of Houston, Airport System, Revenue Bonds (b) | ||
| Series A | ||
| 5.25%, due 7/1/42 | 6,000,000 | 6,588,772 |
| Series A, Insured: AG | ||
| 5.25%, due 7/1/48 | 7,755,000 | 8,011,621 |
| City of Lubbock, Electric Light & Power System, Revenue Bonds | ||
| Insured: AG-CR | ||
| 4.00%, due 4/15/46 | 8,150,000 | 7,648,362 |
| City of Missouri City, Limited General Obligation | ||
| 2.125%, due 6/15/40 | 2,530,000 | 1,928,041 |
| City of San Antonio, Electric & Gas Systems, Revenue Bonds, Junior Lien | ||
| 5.00%, due 2/1/44 | 4,500,000 | 4,752,226 |
| City of San Antonio, Electric & Gas Systems, Revenue Bonds | ||
| Series C | ||
| 5.50%, due 2/1/49 | 5,000,000 | 5,427,144 |
| Comal Independent School District, School Building, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 3.00%, due 2/1/39 | 7,670,000 | 7,208,472 |
| Insured: PSF-GTD | ||
| 3.00%, due 2/1/40 | 12,500,000 | 11,512,081 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| Conroe Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 2.50%, due 2/15/37 | $ 4,000,000 | $ 3,613,549 |
| Cottonwood Creek Municipal Utility District No. 1, Unlimited General Obligation | ||
| Series A, Insured: BAM | ||
| 2.50%, due 9/1/43 | 2,745,000 | 2,006,634 |
| County of Bexar, Limited General Obligation | ||
| 3.00%, due 6/15/41 | 4,375,000 | 3,875,078 |
| County of Collin, Limited General Obligation | ||
| 2.25%, due 2/15/41 | 4,740,000 | 3,696,093 |
| Crowley Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.00%, due 2/1/49 | 10,230,000 | 10,645,306 |
| Dallas Fort Worth International Airport, Revenue Bonds | ||
| Series C | ||
| 5.00%, due 11/1/29 (b) | 11,500,000 | 12,433,064 |
| Dallas Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 1.75%, due 2/15/35 | 3,235,000 | 2,731,596 |
| Denton Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 1.80%, due 8/15/37 | 6,000,000 | 4,756,754 |
| Insured: PSF-GTD | ||
| 5.00%, due 8/15/48 | 18,125,000 | 18,827,607 |
| El Paso County Hospital District, Limited General Obligation | ||
| Insured: AG | ||
| 5.00%, due 8/15/40 | 3,750,000 | 4,109,652 |
| EP Cimarron Ventanas PFC, Home Essential Function Housing Project, Revenue Bonds | ||
| 4.125%, due 12/1/39 | 6,600,000 | 6,679,415 |
| Fort Bend County Fresh Water Supply District No. 1, Unlimited General Obligation | ||
| Insured: BAM | ||
| 3.00%, due 8/15/43 | 4,000,000 | 3,363,407 |
| Fort Bend County Municipal Utility District No. 131, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.50%, due 9/1/45 | 3,540,000 | 2,380,715 |
| Fort Bend County Municipal Utility District No. 134B, Unlimited General Obligation | ||
| Insured: BAM | ||
| 3.00%, due 9/1/44 | 540,000 | 416,412 |
| Fort Bend County Municipal Utility District No. 142, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.50%, due 9/1/38 | 1,575,000 | 1,370,654 |
| Fort Bend County Municipal Utility District No. 194, Unlimited General Obligation | ||
| Series A, Insured: AG | ||
| 2.75%, due 9/1/40 | 520,000 | 438,988 |
| Fort Bend County Municipal Utility District No. 26, Unlimited General Obligation | ||
| Insured: BAM | ||
| 2.375%, due 3/1/46 | 615,000 | 433,145 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| Fort Bend County Municipal Utility District No. 58, Unlimited General Obligation | ||
| Insured: BAM | ||
| 2.125%, due 4/1/43 | $ 1,425,000 | $ 999,864 |
| Fort Bend Independent School District, Unlimited General Obligation | ||
| Series B, Insured: PSF-GTD | ||
| 4.00%, due 8/1/54 (a) | 13,875,000 | 14,169,415 |
| Harris County Hospital District, Limited General Obligation | ||
| 5.50%, due 2/15/50 | 12,500,000 | 13,509,311 |
| Harris County Municipal Utility District No. 105, Unlimited General Obligation | ||
| Insured: BAM | ||
| 3.00%, due 3/1/42 | 4,200,000 | 3,647,102 |
| Harris County Municipal Utility District No. 165, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.25%, due 3/1/45 | 9,575,000 | 6,654,547 |
| Harris County Municipal Utility District No. 166, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.75%, due 9/1/42 | 2,235,000 | 1,771,748 |
| Harris County Municipal Utility District No. 399, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.50%, due 9/1/50 | 1,550,000 | 975,241 |
| Hays Consolidated Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.00%, due 2/15/48 | 8,000,000 | 8,244,850 |
| Hays County Development District No. 1, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.60%, due 4/1/50 | 1,700,000 | 1,119,148 |
| Lamar Consolidated Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 3.00%, due 2/15/44 | 4,335,000 | 3,571,556 |
| Insured: AG | ||
| 5.50%, due 2/15/58 | 6,685,000 | 7,082,148 |
| Leander Independent School District, Unlimited General Obligation | ||
| Series A, Insured: PSF-GTD | ||
| (zero coupon), due 8/16/44 | 8,300,000 | 3,579,037 |
| Love Field Airport Modernization Corp., Revenue Bonds | ||
| Insured: AG | ||
| 4.00%, due 11/1/40 (b) | 7,210,000 | 7,220,391 |
| Lower Colorado River Authority, LCRA Transmission Services Corp., Revenue Bonds | ||
| Insured: AG | ||
| 5.00%, due 5/15/49 | 7,790,000 | 8,022,729 |
| Insured: AG | ||
| 5.50%, due 5/15/48 | 7,500,000 | 7,987,853 |
| Insured: AG | ||
| 5.50%, due 5/15/53 | 8,470,000 | 8,942,313 |
| Lower Colorado River Authority, LCRA Transmission Services Corp. Project, Revenue Bonds | ||
| 5.00%, due 5/15/50 | 6,660,000 | 6,841,401 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| Matagorda County Navigation District No. 1, Central Power and Light Company Project, Revenue Bonds | ||
| Series A | ||
| 2.60%, due 11/1/29 | $ 13,500,000 | $ 13,163,307 |
| Morningstar Ranch Municipal Utility District No. 1 of Parker County, Unlimited General Obligation | ||
| Insured: BAM | ||
| 3.00%, due 9/1/44 | 565,000 | 441,860 |
| North Hays County Municipal Utility District No. 1, Unlimited General Obligation | ||
| Series A, Insured: AG | ||
| 3.00%, due 8/15/41 | 395,000 | 328,215 |
| North Texas Municipal Water District, Sabine Creek Regional Wastewater System, Revenue Bonds | ||
| Insured: AG | ||
| 4.375%, due 6/1/52 | 3,600,000 | 3,528,650 |
| North Texas Tollway Authority, Revenue Bonds, First Tier | ||
| Series A | ||
| 4.125%, due 1/1/39 | 2,000,000 | 2,054,221 |
| Series A | ||
| 5.25%, due 1/1/38 | 6,700,000 | 7,510,917 |
| Northside Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 3.35%, due 8/15/36 | 3,250,000 | 3,236,367 |
| Insured: PSF-GTD | ||
| 3.45%, due 8/15/37 | 6,430,000 | 6,382,006 |
| Pasadena Independent School District, Unlimited General Obligation | ||
| Series B, Insured: PSF-GTD | ||
| 3.23%, due 2/15/44 (a) | 10,475,000 | 10,552,201 |
| Pearland Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.25%, due 2/15/32 | 845,000 | 845,855 |
| Insured: PSF-GTD | ||
| 5.25%, due 2/15/32 | 4,155,000 | 4,159,205 |
| Port Freeport, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 4.00%, due 6/1/44 (b) | 7,930,000 | 7,157,574 |
| Royse City Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.00%, due 2/15/53 | 10,000,000 | 10,296,113 |
| San Antonio Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.00%, due 8/15/52 | 8,715,000 | 8,949,861 |
| San Antonio Water System, Revenue Bonds, Junior Lien | ||
| Series A | ||
| 5.25%, due 5/15/52 | 10,890,000 | 11,512,352 |
| Series B | ||
| 5.25%, due 5/15/52 | 29,110,000 | 30,558,228 |
| San Leon Municipal Utility District, Unlimited General Obligation | ||
| Insured: AG | ||
| 3.00%, due 9/1/44 | 4,150,000 | 3,384,201 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| Sienna Municipal Utility District No. 5, Unlimited General Obligation | ||
| Insured: BAM | ||
| 3.00%, due 11/1/43 | $ 420,000 | $ 334,147 |
| Sienna Parks & Levee Improvement District of Fort Bend County, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.25%, due 9/1/45 | 6,565,000 | 4,492,001 |
| Insured: BAM | ||
| 3.75%, due 9/1/48 | 3,680,000 | 3,171,444 |
| State of Texas, College Student Loan, Unlimited General Obligation | ||
| Series B | ||
| 4.00%, due 8/1/26 (b) | 10,000,000 | 10,013,043 |
| Tarrant County Cultural Education Facilities Finance Corp., Cook Children's Medical Center, Revenue Bonds | ||
| 4.125%, due 12/1/54 | 8,750,000 | 7,931,227 |
| Tarrant County Cultural Education Facilities Finance Corp., Buckner Retirement Services, Inc. Project, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 11/15/46 | 5,265,000 | 5,100,716 |
| Tarrant County Cultural Education Facilities Finance Corp., Texas Health Resources System, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 11/15/49 | 9,475,000 | 9,798,695 |
| Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health Project, Revenue Bonds | ||
| Series D | ||
| 5.00%, due 11/15/51 | 4,600,000 | 4,706,939 |
| Tarrant County Cultural Education Facilities Finance Corp., CHRISTUS Health Obligated Group, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 7/1/53 (a) | 8,000,000 | 8,802,771 |
| Tarrant County Cultural Education Facilities Finance Corp., Health Resources System, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 11/15/52 | 5,000,000 | 5,374,125 |
| Texas Department of Housing & Community Affairs, Revenue Bonds | ||
| Series A, Insured: GNMA | ||
| 3.50%, due 3/1/51 | 2,290,000 | 2,295,102 |
| Series A, Insured: GNMA | ||
| 3.50%, due 7/1/52 | 10,120,000 | 10,144,452 |
| Series A, Insured: GNMA / FNMA | ||
| 3.95%, due 1/1/50 | 3,270,000 | 2,886,138 |
| Series A, Insured: GNMA | ||
| 5.00%, due 1/1/49 | 4,000,000 | 4,107,932 |
| Series A, Insured: GNMA | ||
| 5.125%, due 1/1/54 | 3,250,000 | 3,350,589 |
| Series A, Insured: GNMA | ||
| 5.50%, due 9/1/52 | 16,455,000 | 17,676,902 |
| Series A, Insured: GNMA | ||
| 5.75%, due 1/1/56 | 4,950,000 | 5,504,083 |
| Series B, Insured: GNMA | ||
| 6.00%, due 3/1/53 | 9,920,000 | 10,926,553 |
| Series D-2, Insured: GNMA | ||
| 6.25%, due 1/1/56 | 7,750,000 | 8,819,733 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| Texas Department of Housing & Community Affairs, Residential Mortgage, Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA | ||
| 4.75%, due 1/1/49 | $ 15,000 | $ 15,211 |
| Texas Municipal Gas Acquisition & Supply Corp. II, Revenue Bonds | ||
| Series C | ||
| 3.32%, due 9/15/27 | 20,195,000 | 20,233,855 |
| Texas Municipal Gas Acquisition & Supply Corp. III, Gas Supply, Revenue Bonds | ||
| 5.00%, due 12/15/26 | 4,925,000 | 5,017,172 |
| 5.00%, due 12/15/28 | 3,000,000 | 3,158,325 |
| 5.00%, due 12/15/32 | 10,075,000 | 10,979,546 |
| Texas Municipal Gas Acquisition & Supply Corp. IV, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 1/1/54 (a) | 23,645,000 | 25,252,744 |
| Texas Municipal Gas Acquisition & Supply Corp. V, Revenue Bonds | ||
| 5.00%, due 1/1/55 (a) | 34,450,000 | 37,297,716 |
| Texas Municipal Gas Acquisition and Supply Corp. I, Revenue Bonds, Senior Lien | ||
| Series D | ||
| 6.25%, due 12/15/26 | 860,000 | 887,066 |
| Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group LLC, Revenue Bonds, Senior Lien | ||
| Series A | ||
| 4.00%, due 6/30/35 | 2,300,000 | 2,347,714 |
| Texas Private Activity Bond Surface Transportation Corp., NTE Mobility Partners Segments 3 LLC, Revenue Bonds, Senior Lien (b) | ||
| 5.00%, due 12/31/33 | 2,740,000 | 2,922,087 |
| 5.00%, due 6/30/34 | 2,500,000 | 2,663,516 |
| 5.00%, due 12/31/34 | 3,125,000 | 3,326,010 |
| 5.125%, due 6/30/35 | 2,500,000 | 2,664,131 |
| 5.125%, due 12/31/35 | 3,750,000 | 3,990,101 |
| Texas Private Activity Bond Surface Transportation Corp., North Tarrant Express Managed Lanes Project, Revenue Bonds, Senior Lien | ||
| 5.50%, due 12/31/58 (b) | 14,875,000 | 15,351,262 |
| Texas State Technical College, Financing System Improvement, Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.50%, due 8/1/42 | 4,250,000 | 4,666,054 |
| Texas Transportation Finance Corp., TELA Supported, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 10/1/55 | 11,545,000 | 12,507,753 |
| Texas Water Development Board, State Water Implementation, Revenue Bonds | ||
| 2.50%, due 10/15/39 | 3,000,000 | 2,570,753 |
| Texas Water Development Board, State Water Implementation Fund, Revenue Bonds | ||
| 4.65%, due 10/15/40 | 3,505,000 | 3,740,468 |
| Series A | ||
| 4.75%, due 10/15/43 | 17,490,000 | 18,467,070 |
| 5.00%, due 10/15/47 | 4,385,000 | 4,571,994 |
| Series A | ||
| 5.25%, due 10/15/51 | 22,000,000 | 23,241,288 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Texas | ||
| Valley Ranch Municipal Utility District No. 1, Unlimited General Obligation | ||
| Insured: AG | ||
| 2.125%, due 9/1/42 | $ 1,000,000 | $ 714,122 |
| Verandah Municipal Utility District, Unlimited General Obligation | ||
| Insured: BAM | ||
| 4.375%, due 9/1/50 | 4,100,000 | 3,892,437 |
| Waller Consolidated Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 3.00%, due 2/15/40 | 4,250,000 | 3,817,701 |
| Insured: PSF-GTD | ||
| 3.00%, due 2/15/41 | 7,000,000 | 6,161,398 |
| Washington County Junior College District, Revenue Bonds | ||
| Insured: BAM | ||
| 3.25%, due 10/1/41 | 1,105,000 | 969,161 |
| Waxahachie Independent School District, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.00%, due 2/15/48 | 3,035,000 | 3,159,274 |
| West Harris County Regional Water Authority, Revenue Bonds | ||
| Insured: BAM | ||
| 3.50%, due 12/15/46 | 4,500,000 | 3,834,672 |
| Wylie Independent School District, Unlimited General Obligation | ||
| Series A, Insured: PSF-GTD | ||
| 3.00%, due 8/15/44 | 20,000,000 | 16,448,352 |
| Insured: PSF-GTD | ||
| 5.00%, due 2/15/49 | 5,000,000 | 5,151,223 |
| Wylie Independent School District, School Building, Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 5.25%, due 8/15/54 | 35,855,000 | 37,675,918 |
| 943,696,089 | ||
| U.S. Virgin Islands 0.8% | ||
| Matching Fund Special Purpose Securitization Corp., Revenue Bonds | ||
| Series A | ||
| 5.00%, due 10/1/28 | 5,000,000 | 5,177,434 |
| Series A | ||
| 5.00%, due 10/1/30 | 11,805,000 | 12,413,402 |
| Series A | ||
| 5.00%, due 10/1/32 | 11,805,000 | 12,581,699 |
| Series A | ||
| 5.00%, due 10/1/39 | 35,670,000 | 37,435,055 |
| Virgin Islands Public Finance Authority, Revenue Bonds | ||
| Series C, Insured: AG-CR | ||
| 5.00%, due 10/1/39 | 7,575,000 | 7,599,376 |
| 75,206,966 | ||
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Utah 2.3% | ||
| City of Salt Lake City, Airport, Revenue Bonds (b) | ||
| Series A | ||
| 4.00%, due 7/1/41 | $ 5,750,000 | $ 5,709,790 |
| Series A | ||
| 5.00%, due 7/1/30 | 3,250,000 | 3,549,569 |
| Series A | ||
| 5.00%, due 7/1/32 | 3,750,000 | 4,138,983 |
| Series A | ||
| 5.00%, due 7/1/33 | 3,000,000 | 3,077,841 |
| Series A | ||
| 5.00%, due 7/1/43 | 5,000,000 | 5,084,708 |
| Series A | ||
| 5.00%, due 7/1/47 | 21,900,000 | 21,944,748 |
| Series A | ||
| 5.25%, due 7/1/48 | 7,250,000 | 7,499,077 |
| County of Salt Lake, Option Sales & Use Tax, Revenue Bonds | ||
| Series B | ||
| 2.70%, due 2/1/28 | 2,625,000 | 2,626,188 |
| Davis School District, Unlimited General Obligation | ||
| Insured: School Bond Guaranty | ||
| 3.35%, due 6/1/35 | 4,525,000 | 4,524,858 |
| Insured: School Bond Guaranty | ||
| 3.375%, due 6/1/36 | 4,675,000 | 4,675,035 |
| Downtown Revitalization Public Infrastructure District, Seg Redevelopment Project, Revenue Bonds, First Lien | ||
| Series A, Insured: AG | ||
| 5.50%, due 6/1/50 | 17,280,000 | 18,692,645 |
| Intermountain Power Agency, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 7/1/34 | 5,000,000 | 5,599,264 |
| Series A | ||
| 5.00%, due 7/1/39 | 50,000 | 56,057 |
| Series A | ||
| 5.00%, due 7/1/42 | 4,265,000 | 4,634,227 |
| Series A | ||
| 5.00%, due 7/1/43 | 4,450,000 | 4,730,436 |
| Series A | ||
| 5.00%, due 7/1/43 | 900,000 | 978,637 |
| Series A | ||
| 5.25%, due 7/1/43 | 17,180,000 | 18,744,888 |
| Series A | ||
| 5.25%, due 7/1/44 | 20,950,000 | 22,642,858 |
| Series A | ||
| 5.25%, due 7/1/45 | 13,020,000 | 13,956,250 |
| Jordan School District, School Building, Unlimited General Obligation | ||
| Insured: School Bond Guaranty | ||
| 2.25%, due 6/15/36 | 1,225,000 | 1,092,830 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Utah | ||
| University of Utah (The), Revenue Bonds | ||
| Series B | ||
| 5.25%, due 8/1/53 | $ 9,605,000 | $ 10,097,429 |
| Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
| Insured: BAM UT CSCE | ||
| 4.00%, due 4/15/45 | 1,750,000 | 1,589,635 |
| Utah Housing Corp., Mortgage-Backed, Revenue Bonds | ||
| Series H-G2, Insured: GNMA | ||
| 4.50%, due 10/21/48 | 442,376 | 445,740 |
| Series J-G2, Insured: GNMA | ||
| 4.50%, due 12/21/48 | 394,679 | 397,599 |
| Series A, Insured: GNMA | ||
| 4.50%, due 1/21/49 | 963,777 | 966,594 |
| Series B-G2, Insured: GNMA | ||
| 4.50%, due 2/21/49 | 925,127 | 928,634 |
| Series G-2, Insured: GNMA | ||
| 5.00%, due 7/21/52 | 11,312,934 | 11,720,221 |
| Series H-G2, Insured: GNMA | ||
| 5.00%, due 8/21/52 | 18,206,890 | 18,440,120 |
| Series C-G2, Insured: GNMA | ||
| 5.50%, due 4/21/53 | 3,876,295 | 4,083,898 |
| Utah Housing Corp., Promontory Place Apartments, Revenue Bonds | ||
| Series A, Insured: FNMA | ||
| 4.69%, due 2/1/45 | 5,000,000 | 5,157,176 |
| Utah Housing Corp., Revenue Bonds | ||
| Series J, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 5,000,000 | 5,801,265 |
| 213,587,200 | ||
| Virginia 0.6% | ||
| Arlington County Industrial Development Authority, Virginia Hospital Center Arlington Health System Obligated Group, Revenue Bonds | ||
| 3.75%, due 7/1/50 | 8,775,000 | 7,297,108 |
| Arlington County Industrial Development Authority, Virginia Hospital Center, Revenue Bonds | ||
| 4.00%, due 7/1/45 | 4,720,000 | 4,430,516 |
| Series A | ||
| 5.00%, due 7/1/53 (a) | 10,000,000 | 10,995,973 |
| City of Alexandria, Unlimited General Obligation | ||
| Series A, Insured: State Aid Withholding | ||
| 2.00%, due 12/15/39 | 1,550,000 | 1,212,513 |
| City of Harrisonburg, Unlimited General Obligation | ||
| Series A, Insured: State Aid Withholding | ||
| 1.875%, due 7/15/37 | 3,200,000 | 2,554,480 |
| Norfolk Redevelopment & Housing Authority, Oak Park and Colonial Hall, Revenue Bonds | ||
| Insured: FNMA | ||
| 4.25%, due 9/1/42 (a) | 6,629,512 | 6,736,232 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Virginia | ||
| Roanoke Economic Development Authority, Carilion Clinic Obligated Group, Revenue Bonds | ||
| Series A | ||
| 3.00%, due 7/1/45 | $ 8,595,000 | $ 6,658,820 |
| Virginia College Building Authority, 21st Century College & Equipment Programs, Revenue Bonds | ||
| Series D, Insured: State Intercept | ||
| 3.00%, due 2/1/26 | 4,000,000 | 4,000,000 |
| Virginia Port Authority, Commonwealth Port, Revenue Bonds | ||
| Series A | ||
| 5.25%, due 7/1/48 | 3,900,000 | 4,149,063 |
| Virginia Public School Authority, Revenue Bonds | ||
| Series B, Insured: State Intercept | ||
| 2.25%, due 8/1/29 | 7,000,000 | 6,858,418 |
| Virginia Small Business Financing Authority, Capital Beltway Express LLC, Revenue Bonds, Senior Lien | ||
| 5.00%, due 12/31/47 (b) | 2,250,000 | 2,253,079 |
| 57,146,202 | ||
| Washington 1.4% | ||
| Douglas County Public Utility District No. 1, Wells Hydroelectric Project, Revenue Bonds | ||
| Series B | ||
| 5.00%, due 9/1/47 | 10,030,000 | 10,374,404 |
| Energy Northwest, Bonneville Power Administration, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 7/1/35 | 4,250,000 | 4,675,347 |
| Fircrest Properties, State of Washington Department of Social & Health Services, Revenue Bonds | ||
| 5.50%, due 6/1/49 | 13,570,000 | 14,580,774 |
| Port of Seattle, Revenue Bonds (b) | ||
| Series A | ||
| 5.00%, due 5/1/30 | 4,000,000 | 4,108,048 |
| 5.00%, due 4/1/44 | 5,580,000 | 5,685,274 |
| Series B | ||
| 5.50%, due 8/1/47 | 6,025,000 | 6,345,373 |
| Port of Seattle, Intermediate Lien, Revenue Bonds (b) | ||
| Series C | ||
| 5.00%, due 8/1/30 | 5,000,000 | 5,477,261 |
| Series C | ||
| 5.00%, due 8/1/38 | 8,965,000 | 9,618,698 |
| State of Washington, Various Purpose, Unlimited General Obligation | ||
| Series A | ||
| 5.00%, due 8/1/35 | 4,000,000 | 4,546,977 |
| Series A | ||
| 5.00%, due 8/1/38 | 10,565,000 | 11,940,879 |
| Series A | ||
| 5.00%, due 8/1/41 | 11,700,000 | 12,953,753 |
| State of Washington, Unlimited General Obligation | ||
| Series A | ||
| 5.00%, due 8/1/43 | 4,250,000 | 4,688,179 |
| Series A | ||
| 5.00%, due 8/1/47 | 8,680,000 | 9,165,251 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Washington | ||
| Washington Health Care Facilities Authority, CommonSpirit Health, Revenue Bonds | ||
| Series A | ||
| 5.50%, due 9/1/55 | $ 5,500,000 | $ 5,823,068 |
| Washington State Housing Finance Commission, Revenue Bonds | ||
| Series 1-N, Insured: GNMA / FNMA / FHLMC | ||
| 2.00%, due 6/1/33 | 1,340,000 | 1,187,705 |
| Series 2-N, Insured: GNMA / FNMA / FHLMC | ||
| 3.00%, due 12/1/50 | 2,770,000 | 2,747,610 |
| Series 2-N, Insured: GNMA / FNMA / FHLMC | ||
| 3.75%, due 12/1/49 | 1,955,000 | 1,972,821 |
| Series 2 | ||
| 4.084%, due 3/1/50 (a) | 5,545,515 | 5,466,545 |
| Series 1-N, Insured: GNMA / FNMA / FHLMC | ||
| 5.00%, due 12/1/44 | 5,000,000 | 5,280,132 |
| Washington State Housing Finance Commission, Single-Family Program, Revenue Bonds | ||
| Series 1-N | ||
| 4.00%, due 6/1/49 | 75,000 | 75,692 |
| 126,713,791 | ||
| West Virginia 0.3% | ||
| West Virginia Hospital Finance Authority, United Health System, Revenue Bonds | ||
| Series A | ||
| 5.00%, due 6/1/52 | 14,825,000 | 14,889,708 |
| West Virginia Hospital Finance Authority, Vandalia Heath Group, Revenue Bonds | ||
| Series B, Insured: AG | ||
| 5.50%, due 9/1/48 | 8,600,000 | 9,160,947 |
| 24,050,655 | ||
| Wisconsin 1.3% | ||
| FHLMC Multifamily VRD Certificates, Revenue Bonds | ||
| Series M-051, Class A | ||
| 2.65%, due 6/15/35 (e) | 2,575,000 | 2,186,574 |
| Series ML-27, Insured: FHLMC | ||
| 4.759%, due 8/25/41 | 41,202,419 | 42,301,700 |
| Howard-Suamico School District, Unlimited General Obligation | ||
| 2.00%, due 3/1/36 | 4,825,000 | 4,041,272 |
| 2.00%, due 3/1/39 | 5,200,000 | 5,163,978 |
| 2.00%, due 3/1/40 | 3,245,000 | 3,222,521 |
| 2.00%, due 3/1/41 | 4,540,000 | 4,508,550 |
| Public Finance Authority, Georgia SR 400 Express Lanes Project, Revenue Bonds, Senior Lien (b) | ||
| 5.75%, due 12/31/65 | 7,325,000 | 7,580,575 |
| 6.50%, due 12/31/65 | 9,350,000 | 10,329,919 |
| River Falls School District, Unlimited General Obligation | ||
| Series A | ||
| 3.35%, due 4/1/34 | 2,765,000 | 2,779,655 |
| Series A | ||
| 3.40%, due 4/1/35 | 2,595,000 | 2,607,445 |
| Principal Amount | Value | |
| Long-Term Municipal Bonds | ||
| Wisconsin | ||
| River Falls School District, Unlimited General Obligation | ||
| Series A | ||
| 3.45%, due 4/1/36 | $ 3,130,000 | $ 3,142,747 |
| Sun Prairie Area School District, Unlimited General Obligation | ||
| 2.00%, due 3/1/41 | 6,500,000 | 4,834,102 |
| Waunakee Community School District, Unlimited General Obligation | ||
| 3.25%, due 4/1/28 | 5,170,000 | 5,171,916 |
| Wisconsin Center District, Revenue Bonds, Senior Lien | ||
| Series C, Insured: AG | ||
| (zero coupon), due 12/15/45 | 10,000,000 | 3,972,113 |
| Wisconsin Health & Educational Facilities Authority, Children's Hospital of Wisconsin, Revenue Bonds | ||
| 4.00%, due 8/15/42 | 9,950,000 | 9,636,128 |
| Wisconsin Health & Educational Facilities Authority, Aspirus, Inc. Obligated Group, Revenue Bonds | ||
| 4.00%, due 8/15/48 | 4,015,000 | 3,560,778 |
| Wisconsin Housing & Economic Development Authority, Home Ownership, Sustainable Bond, Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 5.00%, due 9/1/39 | 6,100,000 | 6,673,614 |
| 121,713,587 | ||
| Wyoming 0.1% | ||
| County of Campbell, Basin Electric Power Cooperative, Revenue Bonds | ||
| Series A | ||
| 3.625%, due 7/15/39 | 6,115,000 | 5,940,984 |
| Wyoming Community Development Authority, Revenue Bonds | ||
| Series 1 | ||
| 6.00%, due 12/1/54 | 3,320,000 | 3,637,111 |
| 9,578,095 | ||
| Total Long-Term Municipal Bonds (Cost $8,719,909,021) | 8,967,460,807 | |
| Short-Term Municipal Notes 2.9% | ||
| California 0.1% | ||
| Irvine Ranch Water District, Special Assessment | ||
| Series B | ||
| 2.70%, due 10/1/41 (f) | 6,830,000 | 6,830,000 |
| Colorado 0.5% | ||
| Colorado Health Facilities Authority, Intermountain Healthcare, Inc., Revenue Bonds | ||
| Series E | ||
| 3.05%, due 5/15/62 (f) | 45,000,000 | 45,000,000 |
| Connecticut 0.2% | ||
| Connecticut State Health & Educational Facilities Authority, Yale University, Revenue Bonds | ||
| Series A-1 | ||
| 2.85%, due 7/1/42 (f) | 20,000,000 | 20,000,000 |
| Principal Amount | Value | |
| Short-Term Municipal Notes | ||
| Florida 0.2% | ||
| Hillsborough County Industrial Development Authority, BayCare Health System, Revenue Bonds | ||
| Series D | ||
| 3.25%, due 11/15/54 (f) | $ 17,500,000 | $ 17,500,000 |
| Illinois 0.3% | ||
| Illinois Finance Authority, Northshore-Edward-Elmhurst Health Credit Group, Revenue Bonds | ||
| Series F | ||
| 3.05%, due 8/15/57 (f) | 26,805,000 | 26,805,000 |
| New Hampshire 0.3% | ||
| New Hampshire Business Finance Authority, Novant Health Obligated Group, Revenue Bonds | ||
| Series B | ||
| 3.25%, due 11/1/64 (f) | 25,000,000 | 25,000,000 |
| New York 0.0% ‡ | ||
| Metropolitan Transportation Authority, Transportation, Revenue Bonds | ||
| Series E-1 | ||
| 3.20%, due 11/15/50 (f) | 5,000,000 | 5,000,000 |
| North Carolina 0.7% | ||
| Charlotte-Mecklenburg Hospital Authority (The), Atrium Health, Revenue Bonds | ||
| Series E | ||
| 3.20%, due 1/15/42 (f) | 36,560,000 | 36,560,000 |
| North Carolina Medical Care Commission, Duke University Health System, Revenue Bonds | ||
| Series C | ||
| 3.20%, due 6/1/55 (f) | 30,000,000 | 30,000,000 |
| 66,560,000 | ||
| Pennsylvania 0.1% | ||
| Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University, Revenue Bonds | ||
| Series D-1 | ||
| 3.20%, due 11/1/61 (f) | 7,000,000 | 7,000,000 |
| Texas 0.3% | ||
| Harris County Cultural Education Facilities Finance Corp., Houston Methodist, Revenue Bonds | ||
| Series D | ||
| 3.20%, due 12/1/60 (f) | 16,000,000 | 16,000,000 |
| San Antonio Water System, Revenue Bonds, Sub. Lien | ||
| Series A | ||
| 3.20%, due 5/1/54 (f) | 9,150,000 | 9,150,000 |
| 25,150,000 | ||
| Utah 0.0% ‡ | ||
| County of Utah, IHC Health Services, Inc., Revenue Bonds | ||
| Series C | ||
| 2.30%, due 5/15/51 (f) | 3,900,000 | 3,900,000 |
| Principal Amount | Value | ||
| Short-Term Municipal Notes | |||
| Wisconsin 0.2% | |||
| BlackRock Municipal 2030 Target Term Trust | |||
| Series W-7 | |||
| 2.43%, due 12/31/30 (b)(e)(f) | $ 19,100,000 | $ 19,100,000 | |
| Total Short-Term Municipal Notes (Cost $267,845,000) | 267,845,000 | ||
| Total Municipal Bonds (Cost $8,987,754,021) | 9,235,305,807 | ||
| Shares | |||
| Short-Term Investment 0.8% | |||
| Unaffiliated Investment Company 0.8% | |||
| Dreyfus Government Cash Management - Institutional Shares, 3.579% (g) | 71,678,623 | 71,678,623 | |
| Total Short-Term Investment (Cost $71,678,623) | 71,678,623 | ||
| Total Investments (Cost $9,059,432,644) | 99.9% | 9,306,984,430 | |
| Other Assets, Less Liabilities | 0.1 | 10,134,458 | |
| Net Assets | 100.0% | $ 9,317,118,888 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of January 31, 2026. |
| (b) | Interest on these securities is subject to alternative minimum tax. |
| (c) | Step coupon—Rate shown was the rate in effect as of January 31, 2026. |
| (d) | Delayed delivery security. |
| (e) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (f) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
| (g) | Current yield as of January 31, 2026. |
| Abbreviation(s): |
| AG—Assured Guaranty Ltd. |
| BAM—Build America Mutual Assurance Co. |
| BHAC—Berkshire Hathaway Assurance Corp. |
| CR—Custodial Receipts |
| FHA—Federal Housing Administration |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| HUD—Housing and Urban Development |
| MTA—Metropolitan Transportation Authority |
| NATL-RE—National Public Finance Guarantee Corp. |
| PSF-GTD—Permanent School Fund Guaranteed |
| Q-SBLF—Qualified School Board Loan Fund |
| SD CRED PROG—School District Credit Enhancement Program |
| SONYMA—State of New York Mortgage Agency |
| UT CSCE—Utah Charter School Credit Enhancement Program |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Municipal Bonds | |||||||
| Long-Term Municipal Bonds | $ — | $ 8,967,460,807 | $ — | $ 8,967,460,807 | |||
| Short-Term Municipal Notes | — | 267,845,000 | — | 267,845,000 | |||
| Total Municipal Bonds | — | 9,235,305,807 | — | 9,235,305,807 | |||
| Short-Term Investment | |||||||
| Unaffiliated Investment Company | 71,678,623 | — | — | 71,678,623 | |||
| Total Investments in Securities | $ 71,678,623 | $ 9,235,305,807 | $ — | $ 9,306,984,430 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| Principal Amount | Value | |
| Long-Term Bonds 97.2% | ||
| Corporate Bonds 8.8% | ||
| Commercial Services 3.0% | ||
| Chapman University | ||
| Series 2021 | ||
| 1.867%, due 4/1/29 | $ 1,000,000 | $ 921,643 |
| Series 2021 | ||
| 2.067%, due 4/1/31 | 2,616,000 | 2,284,115 |
| Cornell University | ||
| Series 2025 | ||
| 4.733%, due 6/15/35 | 7,500,000 | 7,508,981 |
| Johns Hopkins University | ||
| Series A | ||
| 1.972%, due 7/1/30 | 2,270,000 | 2,067,384 |
| President and Fellows of Harvard College | ||
| 4.887%, due 3/15/30 | 4,500,000 | 4,648,772 |
| 5.259%, due 3/15/36 | 5,000,000 | 5,236,684 |
| 5.625%, due 10/1/38 | 1,205,000 | 1,267,761 |
| Puerto Rico Tollroads LLC | ||
| Series 2025 | ||
| 3.80% (N/A), due 7/1/35 | 23,000,000 | 23,000,000 |
| Toll Road Investors Partnership II LP (a) | ||
| (zero coupon), due 2/15/39 | 10,000,000 | 3,761,492 |
| (zero coupon), due 2/15/41 | 10,000,000 | 3,033,176 |
| Trustees of Princeton University (The) | ||
| 4.647%, due 7/1/30 | 4,975,000 | 5,091,993 |
| Wake Forest University | ||
| 3.451%, due 1/15/32 | 3,500,000 | 3,346,585 |
| 62,168,586 | ||
| Healthcare-Services 5.1% | ||
| Advocate Health & Hospitals Corp. | ||
| 3.829%, due 8/15/28 | 1,590,000 | 1,589,771 |
| Ascension Health | ||
| Series 2025 | ||
| 4.294%, due 11/15/30 | 4,000,000 | 4,001,757 |
| Series 2025 | ||
| 4.923%, due 11/15/35 | 4,000,000 | 4,003,019 |
| CommonSpirit Health | ||
| 4.825%, due 9/1/35 | 33,500,000 | 32,913,692 |
| Lifespan Corp. | ||
| 4.65%, due 5/15/31 | 4,000,000 | 4,016,028 |
| Series 2025 | ||
| 5.05%, due 2/15/30 | 9,195,000 | 9,323,682 |
| Marshfield Clinic Health System, Inc. | ||
| Series 2024 | ||
| 5.75%, due 2/15/34 | 9,000,000 | 9,187,026 |
| Orlando Health Obligated Group | ||
| 5.475%, due 10/1/35 | 2,725,000 | 2,846,076 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Healthcare-Services | ||
| PeaceHealth Obligated Group | ||
| 4.855%, due 11/15/32 | $ 5,500,000 | $ 5,541,084 |
| Sutter Health | ||
| Series 2025 | ||
| 5.213%, due 8/15/32 | 6,750,000 | 6,990,555 |
| Series 2025 | ||
| 5.537%, due 8/15/35 | 5,500,000 | 5,730,323 |
| Toledo Hospital (The) | ||
| Series B | ||
| 5.325%, due 11/15/28 | 6,624,000 | 6,726,778 |
| UC Health LLC | ||
| Series 2025 | ||
| 5.858%, due 8/1/35 | 12,500,000 | 12,993,032 |
| 105,862,823 | ||
| Real Estate 0.7% | ||
| Fort Carson Family Housing LLC | ||
| 5.677%, due 12/15/45 | 13,365,000 | 13,568,803 |
| Total Corporate Bonds (Cost $180,583,365) | 181,600,212 | |
| Municipal Bonds 88.4% | ||
| Alabama 0.9% | ||
| Alabama Federal Aid Highway Finance Authority Revenue Bonds | ||
| Series B | ||
| 1.856%, due 9/1/29 | 305,000 | 285,171 |
| Series B | ||
| 2.156%, due 9/1/32 | 945,000 | 828,173 |
| Series B | ||
| 2.156%, due 9/1/32 | 3,055,000 | 2,699,011 |
| Series B | ||
| 2.256%, due 9/1/33 | 5,000 | 4,307 |
| Black Belt Energy Gas District Revenue Bonds | ||
| Series B | ||
| 5.00%, due 12/1/34 | 4,000,000 | 4,351,668 |
| Black Belt Energy Gas District, Gas Project Revenue Bonds | ||
| Series B | ||
| 5.00%, due 10/1/35 | 6,580,000 | 6,866,579 |
| Series D | ||
| 5.00%, due 12/1/55 (b) | 3,500,000 | 3,756,053 |
| 18,790,962 | ||
| Principal Amount | Value | |
| Municipal Bonds | ||
| Arizona 0.2% | ||
| Arizona Board of Regents, Arizona State University Revenue Bonds | ||
| Series C | ||
| 4.531%, due 7/1/29 | $ 1,525,000 | $ 1,563,606 |
| Arizona Industrial Development Authority, Voyager Foundation Inc., Project Revenue Bonds | ||
| 3.65%, due 10/1/29 | 1,115,000 | 1,078,366 |
| 3.90%, due 10/1/34 | 1,900,000 | 1,685,086 |
| 4,327,058 | ||
| Arkansas 0.6% | ||
| City of Springdale, Sales & Use Tax Revenue Bonds | ||
| Series A, Insured: BAM | ||
| 5.053%, due 8/1/29 | 3,345,000 | 3,470,309 |
| Series A, Insured: BAM | ||
| 5.103%, due 8/1/30 | 1,500,000 | 1,559,627 |
| Series A, Insured: BAM | ||
| 5.11%, due 8/1/31 | 2,100,000 | 2,173,759 |
| Series A, Insured: BAM | ||
| 5.16%, due 8/1/32 | 2,000,000 | 2,063,919 |
| Series A, Insured: BAM | ||
| 5.21%, due 8/1/33 | 1,150,000 | 1,183,540 |
| Rogers School District No. 30 Limited General Obligation | ||
| Insured: State Aid Withholding | ||
| 5.50%, due 12/1/29 | 1,000,000 | 1,033,279 |
| 11,484,433 | ||
| California 15.0% | ||
| Alameda Corridor Transportation Authority Revenue Bonds, Sub. Lien | ||
| Series B, Insured: AG-CR AMBAC | ||
| (zero coupon), due 10/1/31 | 5,590,000 | 4,319,536 |
| Series B, Insured: BAM AMBAC | ||
| (zero coupon), due 10/1/32 | 4,000,000 | 2,948,201 |
| Alameda Corridor Transportation Authority Revenue Bonds, Senior Lien | ||
| Series C, Insured: NATL-RE | ||
| (zero coupon), due 10/1/33 | 17,000,000 | 11,823,918 |
| Series C, Insured: BHAC-CR NATL-RE | ||
| 6.60%, due 10/1/29 | 5,000,000 | 5,280,178 |
| Anaheim Public Financing Authority, Convention Center Expansion Revenue Bonds | ||
| Series A, Insured: AG | ||
| 2.971%, due 7/1/33 | 2,800,000 | 2,521,510 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| California | ||
| Antelope Valley Community College District Unlimited General Obligation | ||
| 2.738%, due 8/1/36 | $ 1,500,000 | $ 1,256,547 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign Revenue Bonds, Senior Lien | ||
| Series C, Insured: AG | ||
| 5.15%, due 7/1/31 | 1,000,000 | 1,051,929 |
| California Community Choice Financing Authority, Clean Energy Project Revenue Bonds | ||
| Series B | ||
| 5.00%, due 1/1/55 (b) | 7,545,000 | 7,966,850 |
| California Health Facilities Financing Authority Revenue Bonds, Senior Lien | ||
| 1.829%, due 6/1/29 | 2,500,000 | 2,348,248 |
| California Housing Finance Agency Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 2/1/56 | 30,000 | 31,794 |
| California Infrastructure & Economic Development Bank, Infrastructure State Revolving Fund Revenue Bonds | ||
| Series A | ||
| 2.186%, due 10/1/34 | 1,900,000 | 1,603,908 |
| California Infrastructure & Economic Development Bank, J. David Gladstone Institutes Project (The) Revenue Bonds | ||
| 4.00%, due 10/1/39 | 3,500,000 | 2,865,185 |
| California Infrastructure & Economic Development Bank, PIH Health Energy Projects Revenue Bonds | ||
| Series B | ||
| 5.889%, due 12/1/45 (a) | 5,000,000 | 5,038,842 |
| California Municipal Finance Authority, Channing House Project Revenue Bonds | ||
| Series A, Insured: California Mortgage Insurance | ||
| 5.43%, due 5/15/36 | 425,000 | 426,922 |
| California Public Finance Authority, PIH Health, Inc. Obligated Group Revenue Bonds | ||
| Series B, Insured: AG | ||
| 5.447%, due 6/1/34 | 7,750,000 | 8,021,012 |
| California State Public Works Board, Department of General Services Revenue Bonds | ||
| Series B | ||
| 5.05%, due 4/1/32 | 4,000,000 | 4,145,423 |
| California State University, Systemwide Revenue Bonds | ||
| Series B | ||
| 1.994%, due 11/1/32 | 1,000,000 | 871,985 |
| Series B | ||
| 4.90%, due 11/1/34 | 3,750,000 | 3,870,895 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| California | ||
| California State University Revenue Bonds | ||
| Series B | ||
| 4.282%, due 11/1/29 | $ 495,000 | $ 503,145 |
| Series B | ||
| 4.412%, due 11/1/30 | 665,000 | 678,697 |
| Series B | ||
| 4.555%, due 11/1/31 | 845,000 | 865,957 |
| Series B | ||
| 4.705%, due 11/1/32 | 500,000 | 514,925 |
| Series B | ||
| 5.028%, due 11/1/35 | 2,025,000 | 2,108,951 |
| Series B | ||
| 5.128%, due 11/1/36 | 1,105,000 | 1,151,304 |
| Series B | ||
| 5.208%, due 11/1/37 | 1,075,000 | 1,118,906 |
| Series B | ||
| 5.278%, due 11/1/38 | 2,025,000 | 2,103,151 |
| California Statewide Communities Development Authority, Buck Institute for Research on Aging Revenue Bonds | ||
| Insured: AG | ||
| 2.148%, due 11/15/30 | 1,480,000 | 1,434,149 |
| Chaffey Joint Union High School District Unlimited General Obligation | ||
| 2.865%, due 8/1/31 | 2,200,000 | 2,077,657 |
| Charter Oak Unified School District Unlimited General Obligation | ||
| Insured: BAM | ||
| 2.481%, due 8/1/34 | 1,330,000 | 1,139,646 |
| City of Los Angeles, Department of Airports Customer Facility Charge Revenue Bonds | ||
| Series A, Insured: AG | ||
| 3.258%, due 5/15/30 | 8,160,000 | 7,917,540 |
| Series A, Insured: AG | ||
| 3.408%, due 5/15/32 | 5,410,000 | 5,150,743 |
| City of Los Angeles Unlimited General Obligation | ||
| Series A | ||
| 3.55%, due 9/1/31 | 1,185,000 | 1,166,133 |
| City of Los Angeles, Wastewater System Revenue Bonds | ||
| Series B | ||
| 5.291%, due 6/1/34 | 2,040,000 | 2,146,208 |
| Series B | ||
| 5.341%, due 6/1/35 | 3,615,000 | 3,808,126 |
| Series B | ||
| 5.441%, due 6/1/36 | 3,925,000 | 4,136,074 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| California | ||
| City of Los Angeles, Wastewater System Revenue Bonds | ||
| Series B | ||
| 5.541%, due 6/1/37 | $ 4,000,000 | $ 4,216,727 |
| City of Los Angeles, Sustainable Bond Unlimited General Obligation | ||
| Series A | ||
| 5.50%, due 9/1/32 | 6,895,000 | 7,384,599 |
| City of Los Angeles, Department of Airports Revenue Bonds | ||
| Series C | ||
| 6.582%, due 5/15/39 | 1,990,000 | 2,141,858 |
| City of Oakland Unlimited General Obligation | ||
| Series A-2 | ||
| 5.50%, due 7/15/31 | 1,000,000 | 1,063,938 |
| Series A-2 | ||
| 5.60%, due 7/15/32 | 2,580,000 | 2,755,894 |
| Series A-2 | ||
| 5.75%, due 7/15/34 | 4,205,000 | 4,508,532 |
| Series A-2 | ||
| 5.85%, due 7/15/35 | 4,430,000 | 4,741,348 |
| Contra Costa Transportation Authority, Sales Tax Revenue Bonds | ||
| Series B | ||
| 2.25%, due 3/1/34 | 1,580,000 | 1,352,198 |
| County of Alameda Unlimited General Obligation | ||
| Series B | ||
| 3.699%, due 8/1/31 | 3,050,000 | 2,998,890 |
| Cupertino Union School District Unlimited General Obligation | ||
| 2.594%, due 8/1/38 | 3,000,000 | 2,384,515 |
| 2.65%, due 8/1/31 | 1,000,000 | 926,850 |
| Foothill-De Anza Community College District, Election of 2006 Unlimited General Obligation | ||
| Series E | ||
| 2.896%, due 8/1/31 | 1,025,000 | 956,066 |
| Glendale Community College District Unlimited General Obligation | ||
| 2.268%, due 8/1/30 | 1,500,000 | 1,397,144 |
| Long Beach Community College District Unlimited General Obligation | ||
| Series H | ||
| 2.587%, due 8/1/31 | 4,870,000 | 4,503,353 |
| Los Angeles Community College District Unlimited General Obligation | ||
| 2.106%, due 8/1/32 | 2,450,000 | 2,172,629 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| California | ||
| Los Angeles Community College District, Election of 2008 Unlimited General Obligation | ||
| Series B | ||
| 7.53%, due 8/1/29 | $ 6,000,000 | $ 6,522,181 |
| Los Angeles County Public Works Financing Authority Revenue Bonds | ||
| Series B | ||
| 7.618%, due 8/1/40 | 4,025,000 | 4,759,721 |
| Los Angeles Department of Water & Power, Power System Revenue Bonds | ||
| Series D | ||
| 6.574%, due 7/1/45 | 9,060,000 | 9,813,450 |
| Los Angeles Unified School District Revenue Bonds | ||
| Series A | ||
| 5.255%, due 10/1/37 | 3,175,000 | 3,279,791 |
| Marin Community College District Unlimited General Obligation | ||
| Series B | ||
| 1.89%, due 8/1/32 | 2,400,000 | 2,098,796 |
| Northern California Power Agency Revenue Bonds | ||
| Series B | ||
| 7.311%, due 6/1/40 | 2,060,000 | 2,284,691 |
| Oakland Unified School District, Alameda County Unlimited General Obligation | ||
| Insured: BAM | ||
| 2.874%, due 8/1/35 | 7,405,000 | 6,381,804 |
| Port of Oakland Revenue Bonds, Senior Lien | ||
| Series R | ||
| 2.099%, due 5/1/30 | 2,296,003 | 2,121,643 |
| San Diego Community College District Unlimited General Obligation | ||
| 2.113%, due 8/1/31 | 3,470,000 | 3,144,593 |
| Series B | ||
| 3.316%, due 8/1/41 | 3,000,000 | 2,535,460 |
| Series A-2 | ||
| 5.75%, due 8/1/31 | 1,230,000 | 1,333,263 |
| San Diego County Regional Transportation Commission Revenue Bonds | ||
| Series A | ||
| 2.499%, due 4/1/30 | 1,570,000 | 1,485,226 |
| San Diego Public Facilities Financing Authority, Water Utility Revenue Bonds | ||
| Series B | ||
| 2.333%, due 8/1/32 | 1,000,000 | 893,174 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| California | ||
| San Joaquin Hills Transportation Corridor Agency Revenue Bonds, Senior Lien | ||
| Series B, Insured: AG | ||
| 2.571%, due 1/15/30 | $ 1,250,000 | $ 1,188,571 |
| San Jose Evergreen Community College District, Election of 2016 Unlimited General Obligation | ||
| Series B-1 | ||
| 2.61%, due 9/1/36 | 3,000,000 | 2,510,127 |
| San Jose Evergreen Community College District Unlimited General Obligation | ||
| Series B | ||
| 4.928%, due 7/1/43 | 4,905,000 | 4,900,608 |
| San Jose Unified School District Unlimited General Obligation | ||
| 1.847%, due 8/1/33 | 1,685,000 | 1,419,942 |
| San Ramon Valley Unified School District Unlimited General Obligation | ||
| 2.014%, due 8/1/31 | 2,920,000 | 2,640,128 |
| Santa Monica-Malibu Unified School District Unlimited General Obligation | ||
| 1.51%, due 7/1/30 | 2,510,000 | 2,270,236 |
| Silicon Valley Clean Water Revenue Bonds | ||
| Series A | ||
| 1.962%, due 8/1/31 | 3,035,000 | 2,714,072 |
| Southern California Public Power Authority, National Gas Project Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.93%, due 7/1/32 | 1,540,000 | 1,606,380 |
| Series A, Insured: AG | ||
| 6.03%, due 7/1/32 | 6,050,000 | 6,331,041 |
| State of California Unlimited General Obligation | ||
| 5.10%, due 9/1/35 | 3,500,000 | 3,639,278 |
| 7.55%, due 4/1/39 | 16,310,000 | 19,630,395 |
| 7.60%, due 11/1/40 | 40,750,000 | 49,521,837 |
| State of California, Various Purpose Unlimited General Obligation | ||
| 5.875%, due 10/1/41 | 4,000,000 | 4,163,061 |
| State of California Department of Water Resources, Central Valley Project Revenue Bonds | ||
| Series BC | ||
| 1.769%, due 12/1/34 | 2,425,000 | 1,952,688 |
| Series BE | ||
| 2.132%, due 12/1/33 | 7,500,000 | 6,400,304 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| California | ||
| University of California Revenue Bonds | ||
| Series J | ||
| 4.131%, due 5/15/45 | $ 1,000,000 | $ 907,789 |
| Series BU | ||
| 4.932%, due 5/15/34 | 2,000,000 | 2,071,888 |
| William S Hart Union High School District Unlimited General Obligation | ||
| (zero coupon), due 8/1/32 | 3,000,000 | 2,289,401 |
| 310,730,275 | ||
| Colorado 1.7% | ||
| City & County of Denver, Airport System Revenue Bonds | ||
| Series C | ||
| 2.237%, due 11/15/30 | 8,020,000 | 7,420,499 |
| Colorado Housing and Finance Authority Revenue Bonds | ||
| Series E-1, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 5/1/49 | 5,150,000 | 5,412,645 |
| Series O-1, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 5/1/56 | 1,000,000 | 1,050,219 |
| Series D-1, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 5/1/55 | 10,145,000 | 10,797,761 |
| Series H-1, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 11/1/55 | 4,970,000 | 5,281,183 |
| Series G-1, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 11/1/55 | 2,985,000 | 3,211,685 |
| Park Creek Metropolitan District Revenue Bonds, Senior Lien | ||
| Series B, Insured: AG | ||
| 3.344%, due 12/1/32 | 1,850,000 | 1,732,754 |
| Regional Transportation District, Fastracks Project Revenue Bonds | ||
| Series A | ||
| 2.337%, due 11/1/36 | 1,000,000 | 800,229 |
| 35,706,975 | ||
| Connecticut 2.5% | ||
| Connecticut Housing Finance Authority Revenue Bonds | ||
| Series A-2, Insured: GNMA / FNMA / FHLMC | ||
| 5.41%, due 5/15/55 | 8,440,000 | 8,616,587 |
| Series E-2, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 11/15/55 | 6,000,000 | 6,306,118 |
| Series A-2, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 5/15/56 (c) | 3,000,000 | 3,164,969 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Connecticut | ||
| State of Connecticut Unlimited General Obligation | ||
| Series A | ||
| 2.677%, due 7/1/30 | $ 3,805,000 | $ 3,612,603 |
| Series A | ||
| 4.06%, due 6/15/30 | 4,600,000 | 4,623,611 |
| Series A | ||
| 4.628%, due 5/15/32 | 5,060,000 | 5,182,511 |
| Series A | ||
| 4.657%, due 5/15/30 | 7,000,000 | 7,201,744 |
| Series A | ||
| 4.846%, due 5/1/33 | 1,800,000 | 1,860,618 |
| Series A | ||
| 4.89%, due 3/15/32 | 3,000,000 | 3,116,392 |
| Series A | ||
| 5.049%, due 3/15/33 | 4,200,000 | 4,394,764 |
| Series A | ||
| 5.099%, due 3/15/34 | 4,150,000 | 4,348,288 |
| 52,428,205 | ||
| District of Columbia 1.7% | ||
| District of Columbia Revenue Bonds | ||
| Series B | ||
| 5.153%, due 5/1/31 | 10,000,000 | 10,555,565 |
| Series B | ||
| 5.203%, due 5/1/32 | 8,800,000 | 9,329,648 |
| District of Columbia, Georgetown University Revenue Bonds | ||
| Series B | ||
| 5.751%, due 4/1/35 | 1,500,000 | 1,600,791 |
| District of Columbia, Howard University Revenue Bonds | ||
| Series B, Insured: BAM | ||
| 7.625%, due 10/1/35 | 7,240,000 | 8,408,396 |
| District of Columbia Income Tax Revenue Bonds | ||
| Series B | ||
| 4.818%, due 6/1/34 | 5,550,000 | 5,736,353 |
| 35,630,753 | ||
| Florida 2.9% | ||
| Bay Laurel Center Community Development District, Water & Sewer Revenue Bonds | ||
| Series B, Insured: AG | ||
| 5.60%, due 9/1/42 | 1,000,000 | 1,029,262 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Florida | ||
| Central Florida Tourism Oversight District Limited General Obligation | ||
| Series A | ||
| 2.547%, due 6/1/35 | $ 1,605,000 | $ 1,360,698 |
| Central Florida Tourism Oversight District Utility Revenue Bonds | ||
| Series 2 | ||
| 4.997%, due 10/1/38 | 3,645,000 | 3,617,114 |
| City of Miramar Revenue Bonds | ||
| 2.443%, due 10/1/34 | 1,970,000 | 1,679,903 |
| 2.543%, due 10/1/35 | 2,395,000 | 2,012,466 |
| County of Broward, Airport System Revenue Bonds | ||
| Series C | ||
| 2.914%, due 10/1/32 | 9,255,000 | 8,480,291 |
| County of Miami-Dade, Seaport Department Revenue Bonds | ||
| Series A-3, Insured: AG | ||
| 2.012%, due 10/1/31 | 6,940,000 | 6,138,020 |
| Series A-3, Insured: AG | ||
| 2.162%, due 10/1/32 | 4,000,000 | 3,474,745 |
| Series A-3, Insured: AG | ||
| 2.312%, due 10/1/33 | 3,000,000 | 2,565,313 |
| Series A-3, Insured: AG | ||
| 2.712%, due 10/1/37 | 1,000,000 | 803,228 |
| 5.499%, due 11/1/29 | 1,150,000 | 1,205,883 |
| 5.653%, due 11/1/32 | 3,545,000 | 3,786,380 |
| County of Miami-Dade, Aviation Revenue Bonds | ||
| Series B | ||
| 3.406%, due 10/1/32 | 1,500,000 | 1,413,373 |
| Florida Housing Finance Corp., Homeowner Mortgage Revenue Bonds | ||
| Series 2, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 7/1/55 | 2,190,000 | 2,275,668 |
| Florida Housing Finance Corp. Revenue Bonds | ||
| Series 2, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 1/1/57 | 2,750,000 | 2,919,216 |
| Sumter Landing Community Development District Revenue Bonds | ||
| 4.172%, due 10/1/47 | 4,845,000 | 4,421,519 |
| Insured: AG | ||
| 4.884%, due 10/1/30 | 1,700,000 | 1,755,267 |
| Insured: AG | ||
| 4.981%, due 10/1/31 | 1,500,000 | 1,555,025 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Florida | ||
| Sumter Landing Community Development District Revenue Bonds | ||
| Insured: AG | ||
| 5.031%, due 10/1/32 | $ 1,250,000 | $ 1,297,161 |
| Insured: AG | ||
| 5.118%, due 10/1/33 | 1,500,000 | 1,560,992 |
| Insured: AG | ||
| 5.168%, due 10/1/34 | 1,750,000 | 1,822,138 |
| Insured: AG | ||
| 5.188%, due 10/1/35 | 1,500,000 | 1,558,671 |
| Tampa-Hillsborough County Expressway Authority Revenue Bonds | ||
| Series B, Insured: BAM | ||
| 2.142%, due 7/1/31 | 4,375,000 | 3,953,492 |
| 60,685,825 | ||
| Georgia 3.6% | ||
| City of Atlanta, Water & Wastewater Revenue Bonds | ||
| 1.637%, due 11/1/29 | 7,250,000 | 6,722,503 |
| City of Atlanta, Airport Customer Facility Charge Revenue Bonds | ||
| Series A | ||
| 4.776%, due 7/1/33 | 1,300,000 | 1,325,874 |
| Series A | ||
| 4.976%, due 7/1/35 | 1,000,000 | 1,024,108 |
| Series A | ||
| 5.076%, due 7/1/36 | 1,120,000 | 1,147,543 |
| Series A | ||
| 5.196%, due 7/1/37 | 2,170,000 | 2,227,767 |
| Georgia Higher Education Facilities Authority, USG Real Estate Foundation XIV LLC Project Revenue Bonds | ||
| Series A, Insured: BAM | ||
| 4.525%, due 1/1/31 | 2,000,000 | 2,037,252 |
| Series A | ||
| 4.763%, due 1/1/33 | 1,700,000 | 1,732,776 |
| Series A, Insured: BAM | ||
| 5.093%, due 1/1/37 | 5,850,000 | 5,945,147 |
| Series A, Insured: BAM | ||
| 5.173%, due 1/1/38 | 1,600,000 | 1,626,916 |
| Series A | ||
| 5.223%, due 1/1/39 | 3,365,000 | 3,414,131 |
| Main Street Energy, Inc., Energy Project Revenue Bonds | ||
| Series D | ||
| 5.00%, due 12/1/33 | 26,000,000 | 28,080,083 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Georgia | ||
| Municipal Electric Authority of Georgia, Seaport Department Revenue Bonds | ||
| Series B | ||
| 5.89%, due 7/1/33 | $ 1,370,000 | $ 1,426,957 |
| Municipal Electric Authority of Georgia Revenue Bonds | ||
| Series A, Insured: AG-CR AMBAC | ||
| 5.95%, due 1/1/35 | 2,730,000 | 2,905,320 |
| Oglethorpe Power Corp. Revenue Bonds | ||
| Insured: NATL-RE | ||
| 5.534%, due 1/1/35 (a) | 11,595,000 | 12,090,512 |
| Savannah Hospital Authority, St. Joseph's Candler Health System Obligated Group Revenue Bonds | ||
| Series B | ||
| 3.989%, due 7/1/38 | 1,000,000 | 912,730 |
| State of Georgia Unlimited General Obligation | ||
| Series B | ||
| 1.85%, due 8/1/38 | 2,000,000 | 1,460,791 |
| 74,080,410 | ||
| Guam 0.0% ‡ | ||
| Port Authority of Guam Revenue Bonds | ||
| Series C | ||
| 4.582%, due 7/1/28 | 1,000,000 | 1,003,636 |
| Hawaii 1.5% | ||
| City & County of Honolulu Unlimited General Obligation | ||
| Series D | ||
| 3.068%, due 10/1/30 | 1,980,000 | 1,906,243 |
| State of Hawaii Unlimited General Obligation | ||
| Series GC | ||
| 1.718%, due 10/1/30 | 5,500,000 | 4,981,738 |
| Series GC | ||
| 1.868%, due 10/1/31 | 6,000,000 | 5,333,472 |
| Series GJ | ||
| 2.042%, due 8/1/31 | 4,255,000 | 3,835,334 |
| Series FZ | ||
| 2.245%, due 8/1/38 | 3,475,000 | 2,660,945 |
| Series GD | ||
| 2.642%, due 10/1/36 | 1,200,000 | 1,002,642 |
| Series GD | ||
| 2.80%, due 10/1/38 | 2,000,000 | 1,628,803 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Hawaii | ||
| State of Hawaii Unlimited General Obligation | ||
| Series GD | ||
| 2.83%, due 10/1/39 | $ 2,650,000 | $ 2,116,035 |
| Series GM | ||
| 4.821%, due 10/1/32 | 2,000,000 | 2,081,909 |
| Series GN | ||
| 4.936%, due 10/1/37 | 5,000,000 | 5,099,716 |
| 30,646,837 | ||
| Idaho 2.0% | ||
| Idaho Housing & Finance Association Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 5.128%, due 1/1/35 | 1,235,000 | 1,249,506 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 1/1/65 | 11,680,000 | 12,196,824 |
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 1/1/56 | 4,980,000 | 5,265,513 |
| Series E, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/56 | 13,480,000 | 14,409,089 |
| Idaho Housing & Finance Association, Single-Family Mortgage Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/54 | 7,210,000 | 7,617,798 |
| 40,738,730 | ||
| Illinois 6.0% | ||
| Chicago Board of Education, Dedicated Capital Improvement Unlimited General Obligation | ||
| Series C, Insured: BAM | ||
| 6.319%, due 11/1/29 | 2,000,000 | 2,089,272 |
| Chicago Transit Authority Revenue Bonds | ||
| Series B, Insured: BAM | ||
| 3.402%, due 12/1/32 | 4,610,000 | 4,345,669 |
| Chicago Transit Authority Sales Tax Receipts Fund Revenue Bonds | ||
| Series B, Insured: BAM | ||
| 3.102%, due 12/1/30 | 2,100,000 | 2,006,952 |
| City of Chicago, Wastewater Transmission Revenue Bonds, Second Lien | ||
| Series B, Insured: BAM | ||
| 6.90%, due 1/1/40 | 5,500,000 | 6,103,496 |
| City of Chicago Unlimited General Obligation | ||
| Series B, Insured: AG-CR | ||
| 7.375%, due 1/1/33 | 2,868,000 | 3,201,725 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Illinois | ||
| County of Cook Unlimited General Obligation | ||
| Series C | ||
| 5.79%, due 11/15/29 | $ 490,000 | $ 504,974 |
| Illinois Finance Authority, Ann & Robert H Lurie Children's Hospital Revenue Bonds | ||
| 3.598%, due 8/15/30 | 2,250,000 | 2,205,249 |
| Illinois Housing Development Authority Revenue Bonds | ||
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 5.229%, due 10/1/34 | 2,450,000 | 2,492,800 |
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 5.279%, due 4/1/35 | 2,315,000 | 2,358,925 |
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 5.329%, due 10/1/35 | 2,295,000 | 2,336,216 |
| Series F, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 10/1/54 | 2,395,000 | 2,512,836 |
| Series H, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 4/1/56 | 2,500,000 | 2,643,261 |
| Series B, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 10/1/56 | 3,410,000 | 3,620,962 |
| Metropolitan Pier & Exposition Authority Revenue Bonds | ||
| Series B | ||
| 7.20%, due 6/15/33 | 12,380,000 | 13,247,838 |
| Sales Tax Securitization Corp. Revenue Bonds, Second Lien | ||
| Series B, Insured: BAM | ||
| 2.857%, due 1/1/31 | 8,500,000 | 8,043,796 |
| Series B | ||
| 4.847%, due 1/1/31 | 5,450,000 | 5,611,550 |
| Sales Tax Securitization Corp. Revenue Bonds | ||
| Series C | ||
| 3.23%, due 1/1/28 | 850,000 | 840,478 |
| State of Illinois, Sales Tax Revenue Bonds | ||
| 3.45%, due 6/15/29 | 3,170,000 | 3,110,190 |
| State of Illinois Revenue Bonds | ||
| 4.62%, due 6/15/38 | 21,770,669 | 21,474,309 |
| State of Illinois Unlimited General Obligation | ||
| Series B | ||
| 5.52%, due 4/1/38 | 6,950,000 | 7,199,767 |
| Insured: AG-CR | ||
| 5.65%, due 12/1/38 | 6,453,055 | 6,724,928 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Illinois | ||
| State of Illinois Unlimited General Obligation | ||
| Series 1 | ||
| 6.63%, due 2/1/35 | $ 4,615,385 | $ 4,850,003 |
| Series 3 | ||
| 6.725%, due 4/1/35 | 11,526,923 | 12,164,896 |
| State of Illinois, Build America Bonds Unlimited General Obligation | ||
| Series 5 | ||
| 7.35%, due 7/1/35 | 4,942,857 | 5,352,824 |
| 125,042,916 | ||
| Indiana 0.7% | ||
| Indiana Finance Authority, Deaconess Health System Revenue Bonds | ||
| Series A | ||
| 2.876%, due 3/1/38 | 2,000,000 | 1,638,744 |
| Indiana Housing & Community Development Authority Revenue Bonds | ||
| Series B-3, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/54 | 5,385,000 | 5,644,207 |
| St. Joseph County Redevelopment Authority, Commission Revenue Bonds | ||
| Series B, Insured: AG | ||
| 4.991%, due 2/1/31 | 1,085,000 | 1,131,571 |
| Series B, Insured: AG | ||
| 5.033%, due 2/1/32 | 1,135,000 | 1,184,004 |
| Series B, Insured: AG | ||
| 5.083%, due 2/1/33 | 1,000,000 | 1,043,678 |
| State of Indiana Finance Authority Revenue Bonds | ||
| Series A | ||
| 3.624%, due 7/1/36 | 5,000,000 | 4,670,846 |
| 15,313,050 | ||
| Iowa 1.1% | ||
| Iowa Finance Authority Revenue Bonds | ||
| Series F, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/55 | 3,250,000 | 3,428,828 |
| Iowa Student Loan Liquidity Corp. Revenue Bonds, Senior Lien | ||
| Series A | ||
| 5.343%, due 12/1/34 | 3,200,000 | 3,207,728 |
| Series A | ||
| 5.426%, due 12/1/35 | 1,730,000 | 1,751,254 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Iowa | ||
| Iowa Student Loan Liquidity Corp. Revenue Bonds, Senior Lien | ||
| Series A | ||
| 5.908%, due 12/1/45 | $ 15,150,000 | $ 15,413,665 |
| 23,801,475 | ||
| Kentucky 1.0% | ||
| Kentucky Higher Education Student Loan Corp. Revenue Bonds | ||
| Series A-2 | ||
| 5.945%, due 6/1/33 | 4,750,000 | 5,098,118 |
| Series A-2 | ||
| 5.995%, due 6/1/34 | 5,000,000 | 5,387,173 |
| Series A-2 | ||
| 6.045%, due 6/1/35 | 3,000,000 | 3,243,212 |
| Series A-2 | ||
| 6.195%, due 6/1/40 | 4,000,000 | 4,165,404 |
| Kentucky Housing Corp. Revenue Bonds | ||
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 2,050,000 | 2,185,108 |
| 20,079,015 | ||
| Louisiana 0.9% | ||
| Louisiana Local Government Environmental Facilities & Community Development Authority, Utilities Restoration Corp. Project Revenue Bonds | ||
| 5.197%, due 9/1/39 | 4,524,825 | 4,593,905 |
| State of Louisiana Revenue Bonds | ||
| Series A | ||
| 1.742%, due 6/15/32 | 1,450,000 | 1,250,722 |
| State of Louisiana Unlimited General Obligation | ||
| Series C-1 | ||
| 1.804%, due 6/1/31 | 3,710,000 | 3,315,724 |
| Tulane University Revenue Bonds | ||
| Series C, Insured: NATL-RE | ||
| 4.413%, due 2/15/36 | 10,000,000 | 9,530,171 |
| 18,690,522 | ||
| Maryland 2.0% | ||
| City of Baltimore Unlimited General Obligation | ||
| Series B | ||
| 2.00%, due 10/15/34 | 1,145,000 | 944,796 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Maryland | ||
| County of Howard Unlimited General Obligation | ||
| Series E | ||
| 1.55%, due 8/15/31 | $ 3,000,000 | $ 2,637,188 |
| Maryland Department of Housing & Community Development Revenue Bonds | ||
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 5.50%, due 9/1/55 | 5,500,000 | 5,656,227 |
| Maryland Health & Higher Educational Facilities Authority, University of Maryland Medical System Issue Revenue Bonds | ||
| Series D | ||
| 3.052%, due 7/1/40 | 9,020,000 | 7,114,130 |
| Maryland Stadium Authority, Baltimore City Public School Construction Financing Fund Revenue Bonds | ||
| Series C, Insured: State Intercept | ||
| 2.207%, due 5/1/31 | 1,510,000 | 1,376,339 |
| Maryland Stadium Authority, Pimlico Improvements Project Revenue Bonds | ||
| 4.347%, due 6/15/31 | 2,915,000 | 2,924,820 |
| 4.447%, due 6/15/32 | 2,915,000 | 2,921,549 |
| 4.754%, due 6/15/36 | 3,190,000 | 3,187,079 |
| 4.884%, due 6/15/37 | 6,220,000 | 6,234,631 |
| 4.984%, due 6/15/38 | 3,325,000 | 3,332,065 |
| 5.034%, due 6/15/39 | 2,190,000 | 2,191,203 |
| 5.054%, due 6/15/40 | 2,580,000 | 2,575,146 |
| 41,095,173 | ||
| Massachusetts 6.5% | ||
| Commonwealth of Massachusetts Limited General Obligation | ||
| Series C | ||
| 1.929%, due 7/1/34 | 1,700,000 | 1,400,772 |
| Series C | ||
| 2.029%, due 7/1/35 | 2,000,000 | 1,621,911 |
| Series D | ||
| 2.663%, due 9/1/39 | 17,301,479 | 14,648,081 |
| Series D | ||
| 4.50%, due 8/1/31 | 1,500,000 | 1,486,853 |
| Series E | ||
| 5.50%, due 10/1/29 | 9,000,000 | 9,500,159 |
| Series E | ||
| 5.50%, due 10/1/31 | 5,050,000 | 5,392,140 |
| Commonwealth of Massachusetts Unlimited General Obligation | ||
| Series D | ||
| 5.00%, due 6/1/37 | 1,500,000 | 1,540,098 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Massachusetts | ||
| Commonwealth of Massachusetts, COVID-19 Recovery Assessment Revenue Bonds | ||
| Series A | ||
| 3.769%, due 7/15/29 | $ 11,225,000 | $ 11,219,184 |
| Commonwealth of Massachusetts, Unemployment Insurance Trust Fund Revenue Bonds | ||
| Series A | ||
| 3.881%, due 1/15/31 | 5,000,000 | 4,982,465 |
| Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds | ||
| Series B | ||
| 2.235%, due 7/1/31 | 7,795,000 | 7,100,283 |
| Massachusetts Development Finance Agency, Tufts Medicine, Inc. Revenue Bonds | ||
| Series G, Insured: AG-CR | ||
| 6.625%, due 10/1/30 | 8,650,000 | 9,242,359 |
| Massachusetts Educational Financing Authority Revenue Bonds, Senior Lien | ||
| Series A | ||
| 5.95%, due 7/1/44 | 11,595,000 | 11,828,453 |
| Series A | ||
| 6.166%, due 7/1/50 | 31,500,000 | 32,287,629 |
| Massachusetts Housing Finance Agency Revenue Bonds | ||
| Series 240 | ||
| 6.25%, due 12/1/54 | 5,000,000 | 5,254,947 |
| Massachusetts Port Authority Revenue Bonds | ||
| Series C | ||
| 1.679%, due 7/1/31 | 1,625,000 | 1,439,292 |
| Massachusetts Water Resources Authority Revenue Bonds | ||
| Series E | ||
| 2.323%, due 8/1/29 | 1,515,000 | 1,442,778 |
| Series C | ||
| 2.39%, due 8/1/33 | 6,275,000 | 5,518,907 |
| University of Massachusetts, Building Authority Revenue Bonds, Senior Lien | ||
| Series 4 | ||
| 2.008%, due 11/1/31 | 2,330,000 | 2,083,089 |
| Series 2 | ||
| 3.646%, due 11/1/34 | 2,495,000 | 2,348,530 |
| University of Massachusetts Building Authority Revenue Bonds | ||
| Series 2 | ||
| 5.45%, due 11/1/40 | 4,260,000 | 4,343,602 |
| 134,681,532 | ||
| Principal Amount | Value | |
| Municipal Bonds | ||
| Michigan 0.1% | ||
| Great Lakes Water Authority Sewage Disposal System Revenue Bonds, Second Lien | ||
| Series B, Insured: AG | ||
| 2.615%, due 7/1/36 | $ 1,000,000 | $ 847,223 |
| Michigan State Building Authority Revenue Bonds | ||
| Series II | ||
| 2.032%, due 10/15/33 | 1,000,000 | 849,850 |
| 1,697,073 | ||
| Minnesota 1.0% | ||
| Minnesota Housing Finance Agency Revenue Bonds | ||
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 1.58%, due 2/1/51 | 4,879,236 | 3,711,805 |
| Series V, Insured: GNMA / FNMA / FHLMC | ||
| 5.626%, due 7/1/39 | 1,995,000 | 2,014,705 |
| Series A, Insured: GNMA / FNMA / FHLMC | ||
| 6.125%, due 7/1/55 | 5,460,000 | 5,722,400 |
| Series J, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/54 | 2,950,000 | 3,104,722 |
| University of Minnesota, University Supported Biomedical Science Research Facilities Funding Program Revenue Bonds | ||
| Series C | ||
| 4.563%, due 8/1/36 | 7,020,000 | 7,025,985 |
| 21,579,617 | ||
| Mississippi 1.0% | ||
| State of Mississippi Unlimited General Obligation | ||
| Series A | ||
| 1.632%, due 11/1/31 | 9,000,000 | 7,959,797 |
| Series B | ||
| 1.699%, due 6/1/29 | 2,935,000 | 2,761,705 |
| Series B | ||
| 1.849%, due 6/1/30 | 2,135,000 | 1,977,804 |
| Series E | ||
| 2.387%, due 10/1/34 | 5,000,000 | 4,338,811 |
| Series F | ||
| 5.245%, due 11/1/34 | 4,075,000 | 4,181,272 |
| 21,219,389 | ||
| Missouri 0.5% | ||
| Health & Educational Facilities Authority of the State of Missouri, Washington University (The) Revenue Bonds | ||
| Series A | ||
| 3.535%, due 2/15/33 | 5,500,000 | 5,234,900 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Missouri | ||
| Missouri Housing Development Commission, First Place Homeownership Loan Program Revenue Bonds | ||
| Series G, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 5/1/56 | $ 4,000,000 | $ 4,190,117 |
| 9,425,017 | ||
| Nebraska 0.1% | ||
| City of Lincoln, Electric System Revenue Bonds | ||
| Series B | ||
| 1.499%, due 9/1/30 | 3,000,000 | 2,693,645 |
| Nevada 0.4% | ||
| County of Clark Limited General Obligation | ||
| Series A | ||
| 2.75%, due 11/1/38 | 5,000,000 | 4,044,604 |
| Nevada Housing Division Revenue Bonds, Senior Lien | ||
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 10/1/54 | 4,105,000 | 4,294,928 |
| 8,339,532 | ||
| New Hampshire 1.5% | ||
| New Hampshire Business Finance Authority, Wheeling Power Co. Revenue Bonds | ||
| Series A | ||
| 6.89%, due 4/1/34 (a) | 22,200,000 | 23,431,299 |
| New Hampshire Health and Education Facilities Authority Act, Granite Edvance Corp. Revenue Bonds | ||
| Series A | ||
| 5.04%, due 11/1/34 | 3,865,000 | 3,888,821 |
| Series A | ||
| 5.34%, due 11/1/44 | 4,180,000 | 3,916,659 |
| 31,236,779 | ||
| New Jersey 0.7% | ||
| New Jersey Economic Development Authority Revenue Bonds | ||
| Series NNN | ||
| 3.77%, due 6/15/31 | 1,500,000 | 1,471,944 |
| New Jersey Turnpike Authority Revenue Bonds | ||
| Series B | ||
| 1.713%, due 1/1/29 | 3,485,000 | 3,281,056 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| New Jersey | ||
| North Hudson Sewerage Authority Revenue Bonds, Senior Lien | ||
| Insured: AG | ||
| 3.258%, due 6/1/32 | $ 745,000 | $ 704,011 |
| North Hudson Sewerage Authority Senior Lien | ||
| Insured: AG | ||
| 3.258%, due 6/1/34 | 255,000 | 250,760 |
| State of New Jersey Unlimited General Obligation | ||
| Series A | ||
| 2.75%, due 6/1/31 | 3,900,000 | 3,657,867 |
| Series A, Insured: BAM | ||
| 2.90%, due 6/1/33 | 5,180,000 | 4,762,351 |
| 14,127,989 | ||
| New Mexico 0.1% | ||
| New Mexico Mortgage Finance Authority, Single Family Mortgage Program Revenue Bonds | ||
| Series B, Class I, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 3/1/56 | 990,000 | 1,047,277 |
| New York 12.9% | ||
| Brookhaven Local Development Corp., Long Island Community Hospital Health Care Services Foundation Revenue Bonds | ||
| Series B, Insured: AG-CR | ||
| 6.00%, due 10/1/30 | 1,855,000 | 1,948,636 |
| City of New York Unlimited General Obligation | ||
| Series D | ||
| 1.623%, due 8/1/28 | 1,210,000 | 1,147,060 |
| Series D | ||
| 1.723%, due 8/1/29 | 230,000 | 213,513 |
| Series D | ||
| 1.723%, due 8/1/29 | 1,070,000 | 991,835 |
| Series D-2 | ||
| 1.75%, due 3/1/30 | 2,450,000 | 2,239,932 |
| Series D-3 | ||
| 1.97%, due 3/1/31 | 1,000,000 | 899,509 |
| Series D-3 | ||
| 2.22%, due 3/1/35 | 6,000,000 | 4,919,934 |
| Series E-1 | ||
| 4.636%, due 10/1/34 | 5,000,000 | 4,999,993 |
| Series E-1 | ||
| 5.106%, due 10/1/39 | 20,500,000 | 20,499,104 |
| Series C-1 | ||
| 5.517%, due 10/1/37 | 4,220,000 | 4,298,127 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| New York | ||
| City of New York Unlimited General Obligation | ||
| Series H | ||
| 5.75%, due 2/1/38 | $ 4,500,000 | $ 4,761,117 |
| City of New York, Fiscal of 2021 Unlimited General Obligation | ||
| Series D | ||
| 1.923%, due 8/1/31 | 2,045,000 | 1,814,629 |
| Dutchess County Local Development Corp., Bard College Revenue Bonds | ||
| Series B | ||
| 5.918%, due 7/1/39 | 16,665,000 | 16,711,267 |
| Empire State Development Corp. Revenue Bonds | ||
| Series E-1 | ||
| 5.77%, due 3/15/39 | 3,000,000 | 3,083,014 |
| Metropolitan Transportation Authority Revenue Bonds | ||
| Series A | ||
| 6.668%, due 11/15/39 | 8,085,000 | 8,761,334 |
| Series C | ||
| 7.336%, due 11/15/39 | 6,105,000 | 7,146,205 |
| New York City Housing Development Corp., 8 Spruce Street Revenue Bonds | ||
| Class A | ||
| 5.458%, due 12/15/31 | 18,825,000 | 19,261,503 |
| Class B | ||
| 6.033%, due 12/15/31 | 8,500,000 | 8,744,393 |
| Class B | ||
| 6.033%, due 12/15/31 | 4,400,000 | 4,526,509 |
| New York City Transitional Finance Authority, Future Tax Secured Revenue Bonds | ||
| Series D-3 | ||
| 2.40%, due 11/1/32 | 7,500,000 | 6,643,801 |
| Series B-3 | ||
| 3.00%, due 11/1/33 | 9,180,000 | 8,296,707 |
| Series C-3 | ||
| 3.35%, due 11/1/30 | 4,000,000 | 3,869,776 |
| Series G-2 | ||
| 4.91%, due 5/1/32 | 5,000,000 | 5,162,472 |
| Series G-3 | ||
| 5.01%, due 5/1/34 | 2,500,000 | 2,580,850 |
| Series G-3 | ||
| 5.06%, due 5/1/35 | 3,250,000 | 3,344,488 |
| Series D-3 | ||
| 5.65%, due 11/1/35 | 6,000,000 | 6,333,971 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| New York | ||
| New York City Transitional Finance Authority Revenue Bonds | ||
| Series F-2 | ||
| 4.66%, due 2/1/36 | $ 5,000,000 | $ 4,984,092 |
| New York Power Authority Revenue Bonds | ||
| Series A, Insured: AG | ||
| 5.749%, due 11/15/33 | 8,280,000 | 8,897,795 |
| New York State Dormitory Authority, University Facilities Revenue Bonds | ||
| Series B | ||
| 2.746%, due 7/1/30 | 6,430,000 | 6,102,642 |
| New York State Dormitory Authority, Roswell Park Cancer Institute Corp. Obligated Group Revenue Bonds | ||
| Series B, Insured: AG | ||
| 4.84%, due 7/1/32 | 10,000,000 | 10,207,782 |
| New York State Dormitory Authority, New York University Revenue Bonds | ||
| Series B | ||
| 5.228%, due 7/1/35 | 23,100,000 | 24,007,183 |
| New York State Dormitory Authority, State Personal Income Tax Revenue Bonds | ||
| Series H | ||
| 5.289%, due 3/15/33 | 6,264,657 | 6,361,175 |
| New York State Energy Research & Development Authority Revenue Bonds | ||
| Series A | ||
| 5.997%, due 4/1/30 | 2,500,000 | 2,535,082 |
| Series A | ||
| 6.199%, due 4/1/31 | 1,500,000 | 1,526,945 |
| Series A | ||
| 6.249%, due 4/1/32 | 1,000,000 | 1,019,932 |
| Series A | ||
| 6.456%, due 4/1/33 | 865,000 | 883,696 |
| Series A | ||
| 6.506%, due 4/1/34 | 500,000 | 511,509 |
| New York State Energy Research & Development Authority, Revolving Loan Fund Revenue Bonds | ||
| Series A | ||
| 6.004%, due 4/1/33 | 1,000,000 | 995,682 |
| New York State Urban Development Corp., Personal Income Tax Revenue Bonds | ||
| Series D | ||
| 3.32%, due 3/15/29 | 4,990,000 | 4,918,894 |
| State of New York Unlimited General Obligation | ||
| Series B | ||
| 2.35%, due 3/15/35 | 1,000,000 | 835,978 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| New York | ||
| State of New York Unlimited General Obligation | ||
| Series B | ||
| 2.70%, due 2/15/31 | $ 4,485,000 | $ 4,201,705 |
| Series B | ||
| 2.90%, due 2/15/33 | 6,000,000 | 5,475,052 |
| Series B | ||
| 2.95%, due 2/15/34 | 6,750,000 | 6,065,922 |
| State of New York Mortgage Agency Homeowner Mortgage Revenue Bonds | ||
| Series 268, Insured: SONYMA | ||
| 6.25%, due 10/1/55 | 6,000,000 | 6,317,667 |
| Triborough Bridge & Tunnel Authority Revenue Bonds | ||
| Series B | ||
| 5.50%, due 11/15/39 | 6,465,000 | 6,617,774 |
| United Nations Development Corp. Revenue Bonds | ||
| Series A | ||
| 5.661%, due 8/1/36 | 1,000,000 | 1,077,220 |
| Series A | ||
| 5.761%, due 8/1/37 | 1,065,000 | 1,147,585 |
| Series A | ||
| 5.861%, due 8/1/38 | 2,215,000 | 2,386,876 |
| Series A | ||
| 5.931%, due 8/1/39 | 2,600,000 | 2,795,556 |
| United Nations Development Corp., City of New York Revenue Bonds | ||
| Series A | ||
| 6.011%, due 8/1/40 | 3,850,000 | 4,134,374 |
| 267,207,797 | ||
| North Carolina 0.4% | ||
| City of Charlotte Certificate of Participation | ||
| 5.124%, due 6/1/36 | 2,845,000 | 2,958,897 |
| 5.224%, due 6/1/37 | 3,125,000 | 3,251,557 |
| 5.531%, due 6/1/41 | 2,300,000 | 2,380,405 |
| 8,590,859 | ||
| North Dakota 0.1% | ||
| North Dakota Housing Finance Agency, Housing Finance and Home Mortgage Program Revenue Bonds | ||
| Series B | ||
| 6.25%, due 7/1/54 | 2,300,000 | 2,407,134 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Ohio 3.0% | ||
| American Municipal Power, Inc., Combined Hydroelectric Revenue Bonds | ||
| Series B | ||
| 6.424%, due 2/15/32 | $ 4,455,000 | $ 4,731,901 |
| Series A | ||
| 7.734%, due 2/15/33 | 6,620,000 | 7,670,832 |
| City of Columbus Limited General Obligation | ||
| Series D | ||
| 4.022%, due 4/1/35 | 1,135,000 | 1,100,950 |
| Cleveland Department of Public Utilities Division of Water Revenue Bonds | ||
| Series GG | ||
| 2.145%, due 1/1/35 | 4,000,000 | 3,332,948 |
| Columbus Metropolitan Housing Authority, Riverside Sunshine Phase II LLC Revenue Bonds | ||
| 5.375%, due 9/1/28 | 3,750,000 | 3,820,071 |
| Franklin County Convention Facilities Authority Revenue Bonds | ||
| Series B | ||
| 2.022%, due 12/1/30 | 4,795,000 | 4,338,209 |
| JobsOhio Beverage System Revenue Bonds, Senior Lien | ||
| Series A | ||
| 2.833%, due 1/1/38 | 2,005,000 | 1,710,947 |
| Series A | ||
| 2.833%, due 1/1/38 | 35,000 | 29,509 |
| JobsOhio Beverage System Revenue Bonds | ||
| Series B | ||
| 4.532%, due 1/1/35 | 11,035,000 | 11,083,178 |
| Ohio Higher Educational Facility Commission, Ashtabula County Medical Center Obligated Group Revenue Bonds | ||
| 5.25%, due 1/1/42 | 2,000,000 | 2,074,004 |
| Ohio Housing Finance Agency Revenue Bonds | ||
| Series C, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 3/1/56 | 6,665,000 | 7,192,636 |
| Series E, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 3/1/56 | 3,000,000 | 3,241,952 |
| Ohio Turnpike & Infrastructure Commission Revenue Bonds, Senior Lien | ||
| Series A | ||
| 2.801%, due 2/15/36 | 1,500,000 | 1,284,551 |
| Toledo Hospital (The) | ||
| Insured: AG | ||
| 5.75%, due 11/15/38 | 10,735,000 | 10,837,719 |
| 62,449,407 | ||
| Principal Amount | Value | |
| Municipal Bonds | ||
| Oklahoma 0.1% | ||
| Oklahoma Municipal Power Authority, Power Supply System Revenue Bonds | ||
| Series B, Insured: AG | ||
| 2.251%, due 1/1/32 | $ 1,300,000 | $ 1,174,864 |
| Oregon 2.3% | ||
| Oregon State Lottery Revenue Bonds | ||
| Series B | ||
| 3.821%, due 4/1/31 | 3,000,000 | 2,972,673 |
| Series B | ||
| 4.851%, due 4/1/33 | 1,500,000 | 1,553,201 |
| Series B | ||
| 5.031%, due 4/1/35 | 500,000 | 520,754 |
| Series B | ||
| 5.181%, due 4/1/36 | 3,195,000 | 3,340,717 |
| Series B | ||
| 5.281%, due 4/1/37 | 5,105,000 | 5,340,019 |
| Series B | ||
| 5.381%, due 4/1/38 | 2,600,000 | 2,720,644 |
| Port of Morrow, Bonneville Cooperation Project No. 4 Revenue Bonds | ||
| Series 1 | ||
| 2.987%, due 9/1/36 | 6,001,000 | 5,189,946 |
| Port of Morrow, Bonneville Power Administration Revenue Bonds | ||
| 4.819%, due 9/1/30 | 4,000,000 | 4,132,657 |
| 4.839%, due 9/1/31 | 7,250,000 | 7,495,162 |
| State of Oregon, Article XI-Q State Project Unlimited General Obligation | ||
| Series C | ||
| 1.975%, due 5/1/31 | 1,000,000 | 907,271 |
| State of Oregon, Article XI-Q State Projects Unlimited General Obligation | ||
| Series B | ||
| 5.124%, due 5/1/34 | 2,330,000 | 2,456,247 |
| Series B | ||
| 5.174%, due 5/1/35 | 2,000,000 | 2,111,633 |
| Series B | ||
| 5.304%, due 5/1/36 | 3,465,000 | 3,667,366 |
| Series B | ||
| 5.424%, due 5/1/37 | 3,190,000 | 3,382,289 |
| Tri-County Metropolitan Transportation, District of Oregon Revenue Bonds, Senior Lien | ||
| Series B | ||
| 2.583%, due 9/1/36 | 2,100,000 | 1,755,523 |
| 47,546,102 | ||
| Principal Amount | Value | |
| Municipal Bonds | ||
| Pennsylvania 1.9% | ||
| City of Philadelphia, Water & Wastewater Revenue Bonds | ||
| Series B | ||
| 2.034%, due 11/1/31 | $ 1,000,000 | $ 910,988 |
| City of Philadelphia Unlimited General Obligation | ||
| Series B | ||
| 4.846%, due 8/1/31 | 2,500,000 | 2,592,533 |
| City of Pittsburgh Unlimited General Obligation | ||
| Series B | ||
| 1.619%, due 9/1/29 | 1,570,000 | 1,447,945 |
| Commonwealth Financing Authority, Commonwealth of Pennsylvania Revenue Bonds | ||
| Series A, Insured: AG | ||
| 3.657%, due 6/1/38 | 2,340,000 | 2,106,488 |
| Commonwealth of Pennsylvania Unlimited General Obligation | ||
| Series 1 | ||
| 2.05%, due 8/1/31 | 9,520,000 | 8,571,637 |
| Erie City Water Authority Revenue Bonds | ||
| Series D, Insured: AG | ||
| 1.961%, due 12/1/30 | 2,945,000 | 2,673,642 |
| Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University Revenue Bonds | ||
| Series C, Insured: AG | ||
| 5.362%, due 11/1/37 | 2,150,000 | 2,218,265 |
| Pennsylvania Housing Finance Agency Revenue Bonds | ||
| Series 149-B | ||
| 6.50%, due 10/1/55 | 2,000,000 | 2,156,283 |
| Series 150-B | ||
| 6.50%, due 10/1/55 | 3,000,000 | 3,242,836 |
| Pennsylvania State University (The) Revenue Bonds | ||
| Series B | ||
| 4.385%, due 9/1/30 | 1,280,000 | 1,298,352 |
| Series B | ||
| 4.675%, due 9/1/32 | 1,000,000 | 1,021,207 |
| Series B | ||
| 4.958%, due 9/1/34 | 1,500,000 | 1,543,335 |
| Series B | ||
| 5.008%, due 9/1/35 | 1,000,000 | 1,025,701 |
| Series B | ||
| 5.088%, due 9/1/36 | 1,725,000 | 1,770,996 |
| Series B | ||
| 5.308%, due 9/1/39 | 1,885,000 | 1,932,736 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Pennsylvania | ||
| Pennsylvania State University (The) Revenue Bonds | ||
| Series B | ||
| 5.585%, due 9/1/45 | $ 1,265,000 | $ 1,282,684 |
| Reading Area Water Authority Revenue Bonds | ||
| Insured: BAM | ||
| 2.952%, due 12/1/36 | 3,025,000 | 2,589,024 |
| University of Pittsburgh-of the Commonwealth System of Higher Education Revenue Bonds | ||
| Series C | ||
| 2.629%, due 9/15/33 | 2,000,000 | 1,781,183 |
| 40,165,835 | ||
| Rhode Island 0.5% | ||
| Rhode Island Housing & Mortgage Finance Corp., Homeownership Opportunity Revenue Bonds | ||
| Series 85-T, Insured: GNMA | ||
| 6.25%, due 10/1/53 | 1,000,000 | 1,055,641 |
| Rhode Island Student Loan Authority Revenue Bonds, Senior Lien | ||
| Series 1 | ||
| 5.714%, due 12/1/44 | 5,780,000 | 5,821,433 |
| Series 1 | ||
| 5.797%, due 12/1/33 | 1,400,000 | 1,445,204 |
| State of Rhode Island Unlimited General Obligation | ||
| Series B | ||
| 4.51%, due 5/1/30 | 1,150,000 | 1,178,823 |
| 9,501,101 | ||
| South Carolina 0.7% | ||
| South Carolina Public Service Authority Revenue Bonds | ||
| Series C | ||
| 5.01%, due 12/1/32 | 1,645,000 | 1,708,595 |
| Series C | ||
| 5.03%, due 12/1/33 | 1,500,000 | 1,555,674 |
| Series C | ||
| 5.784%, due 12/1/41 | 1,430,000 | 1,482,109 |
| South Carolina Public Service Authority, Santee Cooper Project Revenue Bonds | ||
| Series F, Insured: AG-CR | ||
| 5.74%, due 1/1/30 | 3,032,000 | 3,165,847 |
| South Carolina Student Loan Corp. Revenue Bonds | ||
| Series A | ||
| 5.129%, due 12/1/36 | 5,150,000 | 5,129,132 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| South Carolina | ||
| South Carolina Student Loan Corp. Revenue Bonds | ||
| Series A | ||
| 5.567%, due 12/1/46 | $ 1,000,000 | $ 968,636 |
| 14,009,993 | ||
| Tennessee 0.3% | ||
| Metropolitan Government Nashville & Davidson County Sports Authority, Stadium Project Revenue Bonds | ||
| Series D | ||
| 5.03%, due 7/1/30 | 1,000,000 | 1,043,909 |
| Series D | ||
| 5.068%, due 7/1/31 | 1,600,000 | 1,676,770 |
| Series D | ||
| 5.168%, due 7/1/33 | 1,550,000 | 1,632,849 |
| State of Tennessee Unlimited General Obligation | ||
| Series B | ||
| 1.925%, due 11/1/34 | 1,500,000 | 1,247,071 |
| Series B | ||
| 1.975%, due 11/1/35 | 2,000,000 | 1,626,255 |
| 7,226,854 | ||
| Texas 6.2% | ||
| Austin Community College District Revenue Bonds | ||
| 2.13%, due 2/1/33 | 3,030,000 | 2,632,588 |
| City of Corpus Christi, Utility System Revenue Bonds, Junior Lien | ||
| Series B | ||
| 2.166%, due 7/15/32 | 2,500,000 | 2,218,821 |
| City of Dallas, Waterworks & Sewer System Revenue Bonds | ||
| Series B | ||
| 3.648%, due 10/1/30 | 2,000,000 | 1,968,599 |
| City of Houston, Airport System Revenue Bonds, Sub. Lien | ||
| Series C | ||
| 2.485%, due 7/1/32 | 1,470,000 | 1,314,155 |
| City of Midland Limited General Obligation | ||
| Series A | ||
| 3.601%, due 3/1/31 | 1,420,000 | 1,396,971 |
| City of San Antonio, Electric & Gas Systems Revenue Bonds | ||
| Series A | ||
| 5.469%, due 2/1/45 | 6,500,000 | 6,569,911 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Texas | ||
| Colony Community Development Corp., Nebraska Furniture Mart Project Revenue Bonds | ||
| 7.25%, due 10/1/42 | $ 8,785,000 | $ 8,734,399 |
| County of Bexar, Combined Venue Tax Revenue Bonds | ||
| Insured: AG | ||
| 2.434%, due 8/15/33 | 1,000,000 | 871,487 |
| Insured: AG | ||
| 2.534%, due 8/15/34 | 2,805,000 | 2,406,321 |
| Dallas Area Rapid Transit Revenue Bonds | ||
| Series C | ||
| 1.846%, due 12/1/30 | 3,825,000 | 3,467,490 |
| Series C | ||
| 1.946%, due 12/1/31 | 4,230,000 | 3,756,174 |
| Series C | ||
| 2.046%, due 12/1/32 | 2,035,000 | 1,771,267 |
| Series C | ||
| 2.096%, due 12/1/33 | 1,000,000 | 851,008 |
| Dallas Fort Worth International Airport Revenue Bonds | ||
| Series C | ||
| 2.246%, due 11/1/31 | 2,585,000 | 2,341,850 |
| Series A | ||
| 2.454%, due 11/1/29 | 1,000,000 | 951,926 |
| Series C | ||
| 2.591%, due 11/1/33 | 4,300,000 | 3,803,433 |
| Dallas Independent School District Unlimited General Obligation | ||
| Series B, Insured: PSF-GTD | ||
| 1.935%, due 8/15/30 | 4,875,000 | 4,502,774 |
| Frisco Community Development Corp., Sales Tax Revenue Bonds | ||
| 4.98%, due 2/15/36 | 2,935,000 | 3,032,236 |
| Harris County Cultural Education Facilities Finance Corp., Baylor College of Medicine Revenue Bonds | ||
| 3.344%, due 11/15/37 | 7,600,000 | 6,705,758 |
| Hidalgo County Regional Mobility Authority Revenue Bonds, Senior Lien | ||
| Series B, Insured: AG | ||
| 2.082%, due 12/1/32 | 2,400,000 | 2,071,983 |
| Las Varas Public Facility Corp., Central at Commerce Revenue Bonds | ||
| Series B | ||
| 4.35%, due 2/1/29 | 4,500,000 | 4,528,695 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Texas | ||
| Mansfield Independent School District Unlimited General Obligation | ||
| Insured: PSF-GTD | ||
| 2.175%, due 2/15/36 | $ 2,000,000 | $ 1,634,299 |
| State of Texas, Public Finance Authority Unlimited General Obligation | ||
| Series B | ||
| 1.844%, due 10/1/30 | 4,000,000 | 3,652,370 |
| 2.526%, due 10/1/31 | 7,500,000 | 6,932,053 |
| 2.746%, due 10/1/33 | 1,000,000 | 900,987 |
| 4.68%, due 10/1/32 | 7,470,000 | 7,693,131 |
| 4.90%, due 10/1/35 | 5,100,000 | 5,240,894 |
| State of Texas Unlimited General Obligation | ||
| Series B | ||
| 2.624%, due 10/1/38 | 3,000,000 | 2,398,406 |
| Series A | ||
| 4.631%, due 4/1/33 | 1,855,000 | 1,851,254 |
| 4.857%, due 10/1/35 | 1,400,000 | 1,443,624 |
| 4.957%, due 10/1/36 | 3,250,000 | 3,352,715 |
| 5.157%, due 10/1/38 | 3,250,000 | 3,354,752 |
| State of Texas, State Water Plan Unlimited General Obligation | ||
| Series F | ||
| 4.509%, due 8/1/35 | 2,275,000 | 2,318,000 |
| Series F | ||
| 4.609%, due 8/1/36 | 2,000,000 | 2,038,809 |
| Series F | ||
| 4.709%, due 8/1/37 | 4,735,000 | 4,829,477 |
| Series F | ||
| 4.809%, due 8/1/38 | 2,000,000 | 2,040,489 |
| State of Texas Transportation Commission, Highway Improvement Unlimited General Obligation | ||
| 3.211%, due 4/1/44 | 2,250,000 | 1,835,427 |
| Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Obligated Group Revenue Bonds | ||
| Insured: AG | ||
| 2.901%, due 9/1/35 | 1,325,000 | 1,141,701 |
| Texas Department of Housing & Community Affairs Revenue Bonds | ||
| Series D, Insured: GNMA | ||
| 6.25%, due 9/1/53 | 2,410,000 | 2,529,421 |
| Texas Natural Gas Securitization Finance Corp. Revenue Bonds | ||
| Series A-2 | ||
| 5.169%, due 4/1/41 | 4,780,000 | 4,852,437 |
| Principal Amount | Value | |
| Municipal Bonds | ||
| Texas | ||
| Texas State Affordable Housing Corp., Single-Family Mortgage Revenue Bonds | ||
| Series B, Insured: GNMA | ||
| 6.00%, due 9/1/54 | $ 2,690,000 | $ 2,810,861 |
| Via Metropolitan Transit Advanced Transportation District Revenue Bonds | ||
| 2.673%, due 8/1/38 | 1,000,000 | 801,963 |
| 129,550,916 | ||
| U.S. Virgin Islands 0.2% | ||
| Virgin Islands Water & Power Authority, Electric System Revenue Bonds | ||
| Series C, Insured: AG | ||
| 6.85%, due 7/1/35 | 4,000,000 | 4,373,306 |
| Utah 2.0% | ||
| City of Salt Lake City, Sales and Excise Tax Revenue Bonds | ||
| Series B | ||
| 2.879%, due 4/1/32 | 3,365,000 | 3,143,153 |
| County of Salt Lake, Convention Hotel Revenue Bonds | ||
| 5.25%, due 10/1/34 (a) | 3,610,000 | 3,500,265 |
| Intermountain Power Agency Revenue Bonds | ||
| Series B | ||
| 4.978%, due 7/1/31 | 1,030,000 | 1,063,333 |
| Utah Housing Corp. Revenue Bonds | ||
| Series I, Insured: GNMA / FNMA / FHLMC | ||
| 5.358%, due 1/1/37 | 1,180,000 | 1,194,697 |
| Series I, Insured: GNMA / FNMA / FHLMC | ||
| 5.408%, due 7/1/37 | 1,190,000 | 1,205,065 |
| Series J, Insured: GNMA / FNMA / FHLMC | ||
| 6.00%, due 7/1/55 | 2,655,000 | 2,764,861 |
| Series F, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/55 | 2,490,000 | 2,628,497 |
| Series K, Insured: GNMA / FNMA / FHLMC | ||
| 6.25%, due 7/1/55 | 7,000,000 | 7,475,238 |
| Series D, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 6,420,000 | 6,829,367 |
| Series I, Insured: GNMA / FNMA / FHLMC | ||
| 6.50%, due 7/1/55 | 4,495,000 | 4,834,936 |
| Utah Transit Authority Revenue Bonds | ||
| 2.289%, due 12/15/32 | 4,360,000 | 3,875,791 |
| 2.774%, due 12/15/38 | 3,400,000 | 2,749,044 |
| 41,264,247 | ||
| Principal Amount | Value | |
| Municipal Bonds | ||
| Virginia 0.2% | ||
| Farmville Industrial Development Authority, Longwood University Student Housing Project Revenue Bonds | ||
| Series B | ||
| 5.00%, due 1/1/34 | $ 1,935,000 | $ 1,800,988 |
| Hampton Roads Sanitation District Revenue Bonds | ||
| Series A | ||
| 2.613%, due 2/1/35 | 2,000,000 | 1,698,240 |
| 3,499,228 | ||
| Washington 1.2% | ||
| Central Puget Sound Regional Transit Authority Revenue Bonds | ||
| Series S-2T | ||
| 5.491%, due 11/1/39 | 5,000,000 | 5,092,424 |
| County of King, Sewer Revenue Bonds | ||
| Series A | ||
| 2.091%, due 7/1/34 | 1,880,000 | 1,583,297 |
| County of King Limited General Obligation | ||
| Series C | ||
| 4.932%, due 12/1/31 | 1,600,000 | 1,670,285 |
| Series C | ||
| 4.982%, due 12/1/32 | 1,650,000 | 1,725,667 |
| Series C | ||
| 5.112%, due 12/1/34 | 1,550,000 | 1,621,146 |
| County of Pierce, Sewer Revenue Bonds | ||
| Series B | ||
| 2.467%, due 8/1/37 | 1,000,000 | 806,689 |
| Energy Northwest, Bonneville Power Administration Revenue Bonds | ||
| Series B | ||
| 2.166%, due 7/1/32 | 2,740,000 | 2,425,094 |
| Pierce County School District No. 10, Tacoma Unlimited General Obligation | ||
| Insured: School Bond Guaranty | ||
| 2.357%, due 12/1/39 | 1,195,000 | 916,087 |
| Spokane Public Facilities District, Sales & Lodging tax Revenue Bonds | ||
| Series B | ||
| 1.996%, due 12/1/30 | 3,050,000 | 2,781,062 |
| Spokane Public Facilities District Revenue Bonds | ||
| Series A | ||
| 2.596%, due 12/1/35 | 2,500,000 | 2,109,976 |
| Principal Amount | Value | ||
| Municipal Bonds | |||
| Washington | |||
| Washington State Housing Finance Commission, Single-Family Program Revenue Bonds | |||
| Series 1-T, Insured: GNMA / FNMA / FHLMC | |||
| 5.50%, due 12/1/53 | $ 1,800,000 | $ 1,833,358 | |
| Washington State Housing Finance Commission Revenue Bonds | |||
| Series 1-T, Insured: GNMA / FNMA / FHLMC | |||
| 6.25%, due 6/1/54 | 2,125,000 | 2,226,636 | |
| 24,791,721 | |||
| Wisconsin 0.2% | |||
| State of Wisconsin Unlimited General Obligation | |||
| Series 2 | |||
| 2.614%, due 5/1/32 | 4,250,000 | 3,918,198 | |
| Total Municipal Bonds (Cost $1,782,673,815) | 1,834,001,662 | ||
| U.S. Government & Federal Agencies 0.0% ‡ | |||
| Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.0% ‡ | |||
| FHLMC Gold Pools, 30 Year | |||
| 4.00%, due 10/1/48 | 92,817 | 89,785 | |
| 6.50%, due 4/1/37 | 17,696 | 18,790 | |
| 108,575 | |||
| Government National Mortgage Association (Mortgage Pass-Through Security) 0.0% ‡ | |||
| GNMA I, 30 Year | |||
| 6.50%, due 4/15/31 | 34,590 | 35,726 | |
| Total U.S. Government & Federal Agencies (Cost $145,966) | 144,301 | ||
| Total Long-Term Bonds (Cost $1,963,403,146) | 2,015,746,175 | ||
| Short-Term Investment 2.0% | |||
| Unaffiliated Investment Company 2.0% | |||
| Dreyfus Government Cash Management - Institutional Shares, 3.579% (d) | 42,031,566 | 42,031,566 | |
| Total Short-Term Investment (Cost $42,031,566) | 42,031,566 | ||
| Total Investments (Cost $2,005,434,712) | 99.2% | 2,057,777,741 | |
| Other Assets, Less Liabilities | 0.8 | 16,362,404 | |
| Net Assets | 100.0% | $ 2,074,140,145 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of January 31, 2026. |
| (c) | Delayed delivery security. |
| (d) | Current yield as of January 31, 2026. |
| Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
| Short Contracts | |||||
| U.S. Treasury 10 Year Ultra Bonds | (384) | March 2026 | $ (44,102,617) | $ (43,836,000) | $ 266,617 |
| 1. | As of January 31, 2026, cash in the amount of $979,200 was on deposit with a broker or futures commission merchant for futures transactions. |
| 2. | Represents the difference between the value of the contracts at the time they were opened and the value as of January 31, 2026. |
| Abbreviation(s): |
| AG—Assured Guaranty Ltd. |
| AMBAC—Ambac Assurance Corp. |
| BAM—Build America Mutual Assurance Co. |
| CR—Custodial Receipts |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| NATL-RE—National Public Finance Guarantee Corp. |
| PSF-GTD—Permanent School Fund Guaranteed |
| SONYMA—State of New York Mortgage Agency |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Long-Term Bonds | |||||||
| Corporate Bonds | $ — | $ 181,600,212 | $ — | $ 181,600,212 | |||
| Municipal Bonds | — | 1,834,001,662 | — | 1,834,001,662 | |||
| U.S. Government & Federal Agencies | — | 144,301 | — | 144,301 | |||
| Total Long-Term Bonds | — | 2,015,746,175 | — | 2,015,746,175 | |||
| Short-Term Investment | |||||||
| Unaffiliated Investment Company | 42,031,566 | — | — | 42,031,566 | |||
| Total Investments in Securities | 42,031,566 | 2,015,746,175 | — | 2,057,777,741 | |||
| Other Financial Instruments | |||||||
| Futures Contracts (b) | 266,617 | — | — | 266,617 | |||
| Total Investments in Securities and Other Financial Instruments | $ 42,298,183 | $ 2,015,746,175 | $ — | $ 2,058,044,358 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| (b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
| Principal Amount | Value | |
| Long-Term Bonds 96.6% | ||
| Asset-Backed Securities 14.8% | ||
| Automobile Asset-Backed Securities 6.8% | ||
| Ally Bank Auto Credit-Linked Notes (a) | ||
| Series 2025-B, Class F | ||
| 6.942%, due 9/15/33 | $ 1,118,613 | $ 1,121,927 |
| Series 2025-B, Class G | ||
| 9.935%, due 9/15/33 | 2,179,057 | 2,188,123 |
| Series 2025-A, Class G | ||
| 10.219%, due 6/15/33 | 1,515,878 | 1,528,000 |
| Series 2024-B, Class G | ||
| 11.395%, due 9/15/32 | 737,192 | 757,097 |
| Series 2024-A, Class G | ||
| 12.748%, due 5/17/32 | 1,085,871 | 1,128,526 |
| Avis Budget Rental Car Funding AESOP LLC (a) | ||
| Series 2023-8A, Class D | ||
| 7.52%, due 2/20/30 | 3,000,000 | 3,103,128 |
| Series 2023-1A, Class D | ||
| 7.59%, due 4/20/29 | 1,740,000 | 1,795,278 |
| Bridgecrest Lending Auto Securitization Trust | ||
| Series 2025-4, Class D | ||
| 5.41%, due 8/15/31 | 2,000,000 | 2,031,363 |
| Series 2025-2, Class D | ||
| 5.62%, due 3/17/31 | 2,910,000 | 2,963,194 |
| Series 2025-3, Class E | ||
| 6.62%, due 5/17/32 (a) | 4,410,000 | 4,445,253 |
| Series 2026-1, Class E | ||
| 6.63%, due 2/15/33 (a) | 3,205,000 | 3,234,005 |
| CarMax Auto Owner Trust | ||
| Series 2024-1, Class D | ||
| 6.00%, due 7/15/30 | 1,325,000 | 1,356,184 |
| CarMax Select Receivables Trust | ||
| Series 2025-B, Class D | ||
| 5.33%, due 7/15/31 | 2,835,000 | 2,862,139 |
| Series 2025-A, Class D | ||
| 5.86%, due 7/15/31 | 1,760,000 | 1,801,879 |
| CPS Auto Receivables Trust | ||
| Series 2024-C, Class E | ||
| 8.04%, due 3/15/32 (a) | 2,360,000 | 2,479,934 |
| DT Auto Owner Trust | ||
| Series 2021-3A, Class D | ||
| 1.31%, due 5/17/27 (a) | 606,767 | 605,925 |
| Exeter Automobile Receivables Trust | ||
| Series 2021-3A, Class E | ||
| 3.04%, due 12/15/28 (a) | 3,790,000 | 3,775,358 |
| Series 2025-3A, Class D | ||
| 5.57%, due 10/15/31 | 1,820,000 | 1,856,784 |
| Series 2022-2A, Class E | ||
| 6.34%, due 10/15/29 (a) | 3,225,000 | 3,149,876 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Automobile Asset-Backed Securities | ||
| Exeter Automobile Receivables Trust | ||
| Series 2025-4A, Class E | ||
| 6.99%, due 4/15/33 (a) | $ 4,000,000 | $ 4,045,514 |
| Series 2025-1A, Class E | ||
| 7.48%, due 9/15/32 (a) | 3,500,000 | 3,641,918 |
| Series 2025-3A, Class E | ||
| 7.52%, due 12/15/32 (a) | 2,535,000 | 2,623,363 |
| Flagship Credit Auto Trust (a) | ||
| Series 2021-2, Class D | ||
| 1.59%, due 6/15/27 | 813,889 | 804,133 |
| Series 2021-3, Class D | ||
| 1.65%, due 9/15/27 | 2,412,000 | 2,367,970 |
| Series 2021-4, Class C | ||
| 1.96%, due 12/15/27 | 354,703 | 352,718 |
| Series 2021-4, Class D | ||
| 2.26%, due 12/15/27 | 2,507,000 | 2,393,011 |
| Series 2021-2, Class E | ||
| 3.16%, due 9/15/28 | 1,900,000 | 1,852,940 |
| Series 2021-3, Class E | ||
| 3.32%, due 12/15/28 | 2,110,000 | 1,944,211 |
| Series 2020-1, Class E | ||
| 3.52%, due 6/15/27 | 1,003,005 | 1,002,166 |
| Series 2022-1, Class D | ||
| 3.64%, due 3/15/28 | 1,000,000 | 971,235 |
| Series 2021-4, Class E | ||
| 4.03%, due 3/15/29 | 1,010,000 | 835,324 |
| Series 2020-3, Class E | ||
| 4.98%, due 12/15/27 | 843,972 | 844,144 |
| Series 2022-2, Class D | ||
| 5.80%, due 4/17/28 | 4,430,000 | 3,981,102 |
| Series 2024-3, Class E | ||
| 8.83%, due 1/15/32 | 4,640,000 | 4,411,369 |
| GLS Auto Receivables Issuer Trust (a) | ||
| Series 2022-2A, Class E | ||
| 5.50%, due 6/15/29 | 3,740,000 | 3,760,947 |
| Series 2022-3A, Class E | ||
| 8.35%, due 10/15/29 | 670,000 | 690,576 |
| Hertz Vehicle Financing III LLC (a) | ||
| Series 2025-6A, Class A | ||
| 4.89%, due 5/25/32 | 3,000,000 | 3,024,558 |
| Series 2025-6A, Class B | ||
| 5.14%, due 5/25/32 | 3,450,000 | 3,441,082 |
| Series 2025-1A, Class D | ||
| 7.98%, due 9/25/29 | 2,000,000 | 2,055,442 |
| Series 2025-6A, Class D | ||
| 8.30%, due 5/25/32 | 2,200,000 | 2,245,792 |
| Series 2025-3A, Class D | ||
| 8.55%, due 12/26/29 | 3,790,000 | 3,949,447 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Automobile Asset-Backed Securities | ||
| Hertz Vehicle Financing III LP (a) | ||
| Series 2021-2A, Class A | ||
| 1.68%, due 12/27/27 | $ 2,870,000 | $ 2,823,767 |
| Series 2021-2A, Class C | ||
| 2.52%, due 12/27/27 | 1,577,000 | 1,550,579 |
| Series 2021-2A, Class D | ||
| 4.34%, due 12/27/27 | 3,000,000 | 2,965,882 |
| Huntington Bank Auto Credit-Linked Notes (a)(b) | ||
| Series 2025-2, Class E | ||
| 10.303% (SOFR 30A + 6.60%), due 9/20/33 | 1,341,618 | 1,349,544 |
| Series 2024-1, Class E | ||
| 11.953% (SOFR 30A + 8.25%), due 5/20/32 | 521,053 | 536,160 |
| OneMain Direct Auto Receivables Trust | ||
| Series 2019-1A, Class D | ||
| 4.68%, due 4/14/31 (a) | 1,270,000 | 1,268,746 |
| Santander Bank Auto Credit-Linked Notes | ||
| Series 2023-B, Class F | ||
| 12.24%, due 12/15/33 (a) | 1,509,891 | 1,587,310 |
| Santander Drive Auto Receivables Trust | ||
| Series 2024-4, Class D | ||
| 5.32%, due 12/15/31 | 1,305,000 | 1,325,085 |
| Truist Bank Auto Credit-Linked Notes | ||
| Series 2025-1, Class D | ||
| 9.685%, due 9/26/33 (a) | 2,022,794 | 2,037,023 |
| 108,867,031 | ||
| Home Equity Asset-Backed Securities 0.1% | ||
| GSAA Home Equity Trust | ||
| Series 2007-8, Class A3 | ||
| 4.687% (1 Month SOFR + 1.014%), due 8/25/37 (b) | 1,601 | 1,596 |
| RCKT Mortgage Trust | ||
| Series 2024-CES5, Class A1A | ||
| 5.846%, due 8/25/44 (a)(c) | 2,359,888 | 2,387,487 |
| 2,389,083 | ||
| Other Asset-Backed Securities 7.9% | ||
| AGL CLO 17 Ltd. | ||
| Series 2022-17A, Class BR | ||
| 5.07% (3 Month SOFR + 1.40%), due 1/21/35 (a)(b) | 2,550,000 | 2,550,564 |
| AGL CLO 32 Ltd. | ||
| Series 2024-32A, Class A1 | ||
| 5.05% (3 Month SOFR + 1.38%), due 7/21/37 (a)(b) | 1,300,000 | 1,303,991 |
| AGL CLO 35 Ltd. | ||
| Series 2024-35A, Class A2 | ||
| 5.22% (3 Month SOFR + 1.55%), due 1/21/38 (a)(b) | 500,000 | 501,281 |
| AIMCO CLO | ||
| Series 2018-AA, Class B1R | ||
| 5.318% (3 Month SOFR + 1.65%), due 10/17/37 (a)(b) | 1,650,000 | 1,655,259 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| American Airlines Pass-Through Trust | ||
| Series 2019-1, Class B | ||
| 3.85%, due 2/15/28 | $ 510,432 | $ 500,018 |
| Series 2021-1, Class B | ||
| 3.95%, due 7/11/30 | 835,700 | 803,133 |
| Series 2016-1, Class A | ||
| 4.10%, due 1/15/28 | 698,807 | 688,831 |
| Apex Credit CLO Ltd. (a)(b) | ||
| Series 2022-1A, Class D1R | ||
| 7.169% (3 Month SOFR + 3.50%), due 10/22/38 | 1,900,000 | 1,890,487 |
| Series 2022-1A, Class ER | ||
| 11.489% (3 Month SOFR + 7.82%), due 10/22/38 | 500,000 | 484,140 |
| Apidos CLO | ||
| Series 2018-18A, Class BR2 | ||
| 5.369% (3 Month SOFR + 1.70%), due 1/22/38 (a)(b) | 1,700,000 | 1,708,128 |
| Apidos CLO LI Ltd. | ||
| Series 2024-51A, Class B | ||
| 5.218% (3 Month SOFR + 1.55%), due 1/20/38 (a)(b) | 870,000 | 871,957 |
| ARES Direct Lending CLO 3 LLC | ||
| Series 2024-3A, Class A2 | ||
| 5.418% (3 Month SOFR + 1.75%), due 1/20/37 (a)(b) | 850,000 | 850,768 |
| Ares Loan Funding IX Ltd. | ||
| Series 2025-ALF9A, Class A2 | ||
| 5.072% (3 Month SOFR + 1.40%), due 3/31/38 (a)(b) | 1,500,000 | 1,502,517 |
| Avant Loans Funding Trust | ||
| Series 2022-REV1, Class D | ||
| 11.02%, due 9/15/31 (a) | 13,273 | 13,303 |
| Bain Capital Credit CLO Ltd. | ||
| Series 2021-6A, Class DR | ||
| 6.62% (3 Month SOFR + 2.95%), due 10/21/34 (a)(b) | 800,000 | 790,304 |
| Bayfront Labs VII Pte. Ltd. | ||
| Series 7A, Class A | ||
| 4.956% (SOFR + 1.28%), due 4/11/48 (a)(b) | 3,100,000 | 3,106,479 |
| BCC Middle Market CLO LLC | ||
| Series 2025-1A, Class A1 | ||
| 5.29% (3 Month SOFR + 1.62%), due 7/17/37 (a)(b) | 1,640,000 | 1,648,016 |
| Benefit Street Partners CLO XXXII Ltd. | ||
| Series 2023-32A, Class AR | ||
| 4.878% (3 Month SOFR + 1.21%), due 10/25/38 (a)(b) | 1,000,000 | 1,004,054 |
| Blackrock Rainier CLO VI Ltd. | ||
| Series 2021-6A, Class A1R | ||
| 5.218% (3 Month SOFR + 1.55%), due 4/20/37 (a)(b) | 1,200,000 | 1,204,043 |
| BXDL Static CLO LLC (a)(b) | ||
| Series 2025-1A, Class A1 | ||
| 4.97% (3 Month SOFR + 1.30%), due 7/20/35 | 1,954,052 | 1,954,787 |
| Series 2025-1A, Class C | ||
| 5.87% (3 Month SOFR + 2.20%), due 7/20/35 | 2,000,000 | 2,005,228 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| CF Hippolyta Issuer LLC (a) | ||
| Series 2021-1A, Class A1 | ||
| 1.53%, due 3/15/61 | $ 2,322,628 | $ 1,883,547 |
| Series 2021-1A, Class B1 | ||
| 1.98%, due 3/15/61 | 3,977,129 | 2,429,603 |
| Series 2020-1, Class A2 | ||
| 1.99%, due 7/15/60 | 1,495,594 | 1,256,033 |
| Series 2020-1, Class B1 | ||
| 2.28%, due 7/15/60 | 2,122,707 | 1,337,508 |
| Series 2020-1, Class B2 | ||
| 2.60%, due 7/15/60 | 2,428,520 | 1,541,952 |
| Consolidated Communications LLC | ||
| Series 2025-4A, Class A2 | ||
| 5.522%, due 12/20/55 (a) | 2,225,000 | 2,252,939 |
| DataBank Issuer II LLC | ||
| Series 2025-1A, Class A2 | ||
| 5.18%, due 9/27/55 (a) | 1,255,000 | 1,238,198 |
| FirstKey Homes Trust | ||
| Series 2022-SFR2, Class C | ||
| 4.50%, due 7/17/39 (a) | 2,566,937 | 2,553,878 |
| Fortress Credit Opportunities XXI CLO LLC | ||
| Series 2023-21A, Class A1TR | ||
| 5.24% (3 Month SOFR + 1.57%), due 1/21/37 (a)(b) | 1,600,000 | 1,604,952 |
| Golub Capital CLO 86B Ltd. | ||
| Series 2026-86A, Class C | ||
| (zero coupon) (3 Month SOFR + 1.70%), due 1/25/39 (a)(b) | 2,000,000 | 2,000,000 |
| Golub Capital Partners CLO 49M Ltd. | ||
| Series 2020-49A, Class A2R2 | ||
| 5.348% (3 Month SOFR + 1.68%), due 7/20/38 (a)(b) | 2,650,000 | 2,653,501 |
| Golub Capital Partners CLO 67M Ltd. | ||
| Series 2023-67A, Class CR | ||
| 6.065% (3 Month SOFR + 2.20%), due 5/9/36 (a)(b) | 1,800,000 | 1,801,672 |
| Golub Capital Partners CLO 76 B Ltd. | ||
| Series 2024-76A, Class A1 | ||
| 5.038% (3 Month SOFR + 1.37%), due 10/25/37 (a)(b) | 1,200,000 | 1,202,434 |
| Golub Capital Partners CLO 78M Ltd. | ||
| Series 2025-78A, Class A1 | ||
| 5.05% (3 Month SOFR + 1.38%), due 4/21/39 (a)(b) | 1,550,000 | 1,554,050 |
| Great Lakes CLO Ltd. | ||
| Series 2019-1A, Class ARR | ||
| 5.152% (3 Month SOFR + 1.48%), due 4/15/37 (a)(b) | 1,630,000 | 1,634,341 |
| Home Partners of America Trust | ||
| Series 2021-2, Class B | ||
| 2.302%, due 12/17/26 (a) | 758,001 | 743,668 |
| Ivy Hill Middle Market Credit Fund VII Ltd. | ||
| Series 7A, Class AR3 | ||
| 5.272% (3 Month SOFR + 1.60%), due 10/15/36 (a)(b) | 800,000 | 801,994 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| Kinetic ABS Issuer LLC (a) | ||
| Series 2026-1A, Class B | ||
| 5.561%, due 2/25/56 | $ 1,250,000 | $ 1,250,000 |
| Series 2026-1A, Class C | ||
| 7.653%, due 2/25/56 | 3,500,000 | 3,562,195 |
| Madison Park Funding XXXVIII Ltd. | ||
| Series 2021-38A, Class A1R | ||
| 4.908% (3 Month SOFR + 1.24%), due 10/17/38 (a)(b) | 1,000,000 | 1,002,815 |
| Magnetite 50 Ltd. | ||
| Series 2025-50A, Class A1 | ||
| 4.948% (3 Month SOFR + 1.28%), due 7/25/38 (a)(b) | 2,450,000 | 2,456,196 |
| Marathon CLO Ltd. | ||
| Series 2021-16A, Class A2R | ||
| 5.222% (3 Month SOFR + 1.55%), due 4/15/34 (a)(b) | 2,200,000 | 2,201,047 |
| MFIC Bethesda CLO LLC | ||
| Series 1A, Class A2R | ||
| 5.321% (3 Month SOFR + 1.65%), due 10/23/37 (a)(b) | 2,000,000 | 2,006,452 |
| Navient Private Education Refi Loan Trust (a) | ||
| Series 2020-GA, Class B | ||
| 2.50%, due 9/16/69 | 1,145,000 | 967,360 |
| Series 2020-HA, Class B | ||
| 2.78%, due 1/15/69 | 1,820,000 | 1,583,750 |
| New Economy Assets Phase 1 Sponsor LLC | ||
| Series 2021-1, Class B1 | ||
| 2.41%, due 10/20/61 (a) | 3,945,000 | 2,489,955 |
| OCP CLO Ltd. | ||
| Series 2017-14A, Class A1R | ||
| 5.038% (3 Month SOFR + 1.37%), due 7/20/37 (a)(b) | 1,100,000 | 1,103,363 |
| Owl Rock CLO XX LLC | ||
| Series 2024-20A, Class C | ||
| 5.768% (3 Month SOFR + 2.10%), due 10/24/34 (a)(b) | 1,000,000 | 1,002,722 |
| Point Broadband Funding LLC | ||
| Series 2025-1A, Class C | ||
| 8.156%, due 7/20/55 (a) | 3,000,000 | 3,100,999 |
| Progress Residential Trust | ||
| Series 2025-SFR4, Class C | ||
| 5.05%, due 8/17/42 (a) | 2,795,000 | 2,782,481 |
| QTS Issuer ABS II LLC | ||
| Series 2026-3A, Class A2 | ||
| 6.156%, due 1/5/56 (a) | 3,650,000 | 3,650,073 |
| Rad CLO 25 Ltd. | ||
| Series 2024-25A, Class A1 | ||
| 5.128% (3 Month SOFR + 1.46%), due 7/20/37 (a)(b) | 600,000 | 602,280 |
| Regatta 30 Funding Ltd. | ||
| Series 2024-4A, Class B | ||
| 5.318% (3 Month SOFR + 1.65%), due 1/25/38 (a)(b) | 1,650,000 | 1,659,730 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| Regatta XI Funding Ltd. | ||
| Series 2018-1A, Class AR | ||
| 5.068% (3 Month SOFR + 1.40%), due 7/17/37 (a)(b) | $ 1,100,000 | $ 1,103,512 |
| Regatta XXII Funding Ltd. | ||
| Series 2022-2A, Class A1R2 | ||
| 4.933% (3 Month SOFR + 1.26%), due 1/15/39 (a)(b) | 3,500,000 | 3,508,365 |
| Retained Vantage Data Centers Issuer LLC | ||
| Series 2023-1A, Class A2A | ||
| 5.00%, due 9/15/48 (a) | 2,465,000 | 2,462,896 |
| RIN V LLC | ||
| Series 2023-2A, Class A1R | ||
| 5.007% (3 Month SOFR + 1.34%), due 10/14/36 (a)(b) | 3,000,000 | 2,999,931 |
| Shentel Issuer LLC | ||
| Series 2025-1A, Class A2 | ||
| 5.64%, due 12/20/55 (a) | 4,355,000 | 4,424,407 |
| Signal Peak CLO 12 Ltd. | ||
| Series 2022-12A, Class A1R | ||
| 5.068% (3 Month SOFR + 1.40%), due 7/18/37 (a)(b) | 900,000 | 902,467 |
| Silver Point SCF CLO IV Ltd. | ||
| Series 2021-1A, Class A2R | ||
| 5.622% (3 Month SOFR + 1.95%), due 10/15/36 (a)(b) | 800,000 | 803,637 |
| Sixth Street CLO XIV Ltd. | ||
| Series 2019-14A, Class A1R2 | ||
| 4.82% (3 Month SOFR + 1.15%), due 1/20/38 (a)(b) | 2,400,000 | 2,401,118 |
| Subway Funding LLC (a) | ||
| Series 2024-1A, Class A2I | ||
| 6.028%, due 7/30/54 | 2,970,000 | 3,009,134 |
| Series 2024-1A, Class A2II | ||
| 6.268%, due 7/30/54 | 1,173,150 | 1,196,822 |
| Texas Debt Capital CLO Ltd. | ||
| Series 2024-2A, Class B | ||
| 5.368% (3 Month SOFR + 1.70%), due 1/24/37 (a)(b) | 1,000,000 | 1,007,248 |
| Tricon American Homes (a) | ||
| Series 2020-SFR1, Class C | ||
| 2.249%, due 7/17/38 | 1,500,000 | 1,481,975 |
| Series 2020-SFR1, Class D | ||
| 2.548%, due 7/17/38 | 3,560,000 | 3,517,647 |
| United Airlines Pass-Through Trust | ||
| Series 2020-1, Class A | ||
| 5.875%, due 10/15/27 | 496,550 | 508,874 |
| Uniti Fiber ABS Issuer LLC | ||
| Series 2025-2A, Class C | ||
| 7.834%, due 1/20/56 (a) | 2,800,000 | 2,857,711 |
| Vantage Data Centers Issuer LLC | ||
| Series 2021-1A, Class A2 | ||
| 2.165%, due 10/15/46 (a) | 3,000,000 | 2,947,024 |
| Principal Amount | Value | |
| Asset-Backed Securities | ||
| Other Asset-Backed Securities | ||
| Zayo Issuer LLC (a) | ||
| Series 2025-2A, Class B | ||
| 6.586%, due 6/20/55 | $ 2,680,000 | $ 2,766,225 |
| Series 2025-3A, Class C | ||
| 8.435%, due 10/20/55 | 1,330,000 | 1,395,001 |
| 126,242,970 | ||
| Total Asset-Backed Securities (Cost $238,853,451) | 237,499,084 | |
| Corporate Bonds 28.3% | ||
| Agriculture 0.1% | ||
| MHP Lux SA | ||
| 10.50%, due 7/28/29 (a) | 898,000 | 924,062 |
| Airlines 0.9% | ||
| American Airlines, Inc. (a) | ||
| 5.50%, due 4/20/26 | 91,668 | 91,734 |
| 5.75%, due 4/20/29 | 2,450,000 | 2,475,490 |
| Avianca Midco 2 plc | ||
| 9.50%, due 1/28/31 (a) | 827,000 | 843,540 |
| Series Reg S | ||
| 9.625%, due 2/14/30 | 3,400,000 | 3,483,300 |
| Delta Air Lines, Inc. | ||
| 4.75%, due 10/20/28 (a) | 2,442,917 | 2,461,388 |
| Grupo Aeromexico SAB de CV | ||
| Series Reg S | ||
| 8.25%, due 11/15/29 | 1,114,000 | 1,144,635 |
| 8.625%, due 11/15/31 (a) | 450,000 | 464,625 |
| Series Reg S | ||
| 8.625%, due 11/15/31 | 286,000 | 295,295 |
| Pegasus Hava Tasimaciligi A/S | ||
| Series Reg S | ||
| 8.00%, due 9/11/31 (d) | 3,200,000 | 3,372,150 |
| 14,632,157 | ||
| Auto Manufacturers 0.9% | ||
| Ford Motor Credit Co. LLC | ||
| 4.125%, due 8/17/27 | 1,295,000 | 1,288,691 |
| 6.054%, due 11/5/31 | 590,000 | 609,366 |
| 6.80%, due 5/12/28 | 2,105,000 | 2,202,768 |
| 6.95%, due 3/6/26 | 1,195,000 | 1,197,047 |
| 7.20%, due 6/10/30 | 625,000 | 672,348 |
| General Motors Financial Co., Inc. | ||
| 2.35%, due 1/8/31 | 1,178,000 | 1,061,984 |
| 2.70%, due 6/10/31 | 1,525,000 | 1,386,912 |
| 4.30%, due 4/6/29 | 1,090,000 | 1,091,342 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Auto Manufacturers | ||
| Nissan Motor Acceptance Co. LLC (a) | ||
| 1.85%, due 9/16/26 | $ 3,610,000 | $ 3,534,904 |
| 7.05%, due 9/15/28 | 975,000 | 1,010,957 |
| 14,056,319 | ||
| Auto Parts & Equipment 0.3% | ||
| Garrett Motion Holdings, Inc. | ||
| 7.75%, due 5/31/32 (a) | 2,735,000 | 2,895,561 |
| Goodyear Tire & Rubber Co. (The) | ||
| 6.625%, due 7/15/30 | 1,880,000 | 1,919,416 |
| 4,814,977 | ||
| Banks 3.8% | ||
| Akbank TAS | ||
| Series Reg S | ||
| 9.369% (5 Year Treasury Constant Maturity Rate + 5.27%), due 3/14/29 (b)(e) | 1,100,000 | 1,145,252 |
| Banco Bradesco SA | ||
| 6.50%, due 1/22/30 (a) | 450,000 | 472,248 |
| Banco de Credito del Peru SA | ||
| 6.45% (5 Year Treasury Constant Maturity Rate + 2.486%), due 7/30/35 (a)(b) | 1,365,000 | 1,423,968 |
| Banco Mercantil del Norte SA | ||
| Series Reg S | ||
| 8.75% (10 Year Treasury Constant Maturity Rate + 4.299%), due 5/20/35 (b)(e) | 1,950,000 | 2,110,157 |
| Banco Santander SA | ||
| 2.749%, due 12/3/30 | 1,000,000 | 911,949 |
| 4.175% (1 Year Treasury Constant Maturity Rate + 2.00%), due 3/24/28 (b) | 2,400,000 | 2,400,944 |
| Bank of Georgia JSC | ||
| Series Reg S | ||
| 9.50% (5 Year SOFR + 5.618%), due 7/16/29 (b)(e) | 1,150,000 | 1,206,804 |
| Barclays plc (b)(e) | ||
| 4.375% (5 Year Treasury Constant Maturity Rate + 3.41%), due 3/15/28 | 2,380,000 | 2,315,285 |
| 8.00% (5 Year Treasury Constant Maturity Rate + 5.431%), due 3/15/29 | 900,000 | 962,140 |
| BNP Paribas SA (a) | ||
| 3.052%, due 1/13/31 (f) | 1,605,000 | 1,519,905 |
| 4.625% (5 Year Treasury Constant Maturity Rate + 3.196%), due 1/12/27 (b)(e) | 1,315,000 | 1,310,071 |
| 4.625% (5 Year Treasury Constant Maturity Rate + 3.34%), due 2/25/31 (b)(e) | 1,610,000 | 1,502,204 |
| 6.875% (5 Year Treasury Constant Maturity Rate + 2.853%), due 12/15/33 (b)(e) | 375,000 | 378,394 |
| BPCE SA (a)(f) | ||
| 2.045%, due 10/19/27 | 2,240,000 | 2,208,585 |
| 4.76%, due 1/13/32 (d) | 2,160,000 | 2,158,598 |
| 6.714%, due 10/19/29 | 665,000 | 704,732 |
| Citizens Financial Group, Inc. | ||
| 5.299% (5 Year Treasury Constant Maturity Rate + 1.45%), due 1/29/36 (b) | 3,620,000 | 3,637,212 |
| Deutsche Bank AG | ||
| 3.035%, due 5/28/32 (f) | 460,000 | 422,190 |
| 4.875% (USISDA05 + 2.553%), due 12/1/32 (b) | 3,390,000 | 3,408,226 |
| First Horizon Bank | ||
| 5.75%, due 5/1/30 | 1,673,000 | 1,725,054 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Banks | ||
| Huntington Bancshares, Inc. | ||
| 5.605% (5 Year Treasury Constant Maturity Rate + 1.35%), due 1/28/41 (b) | $ 2,030,000 | $ 2,020,185 |
| Intesa Sanpaolo SpA | ||
| 4.198% (1 Year Treasury Constant Maturity Rate + 2.60%), due 6/1/32 (a)(b) | 3,430,000 | 3,287,639 |
| KeyCorp | ||
| 6.401%, due 3/6/35 (f) | 1,275,000 | 1,381,491 |
| Morgan Stanley (f) | ||
| 2.484%, due 9/16/36 | 2,170,000 | 1,908,146 |
| 2.511%, due 10/20/32 | 3,225,000 | 2,894,811 |
| NatWest Group plc | ||
| 4.60% (5 Year Treasury Constant Maturity Rate + 3.10%), due 6/28/31 (b)(e) | 2,650,000 | 2,464,049 |
| Santander Holdings USA, Inc. | ||
| 6.499%, due 3/9/29 (f) | 1,315,000 | 1,371,565 |
| Societe Generale SA (a)(b)(e) | ||
| 4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 | 1,240,000 | 1,239,284 |
| 5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 | 1,920,000 | 1,866,677 |
| Turkiye Is Bankasi A/S | ||
| 7.375% (5 Year Treasury Constant Maturity Rate + 3.629%), due 4/2/36 (a)(b) | 1,600,000 | 1,592,909 |
| UBS Group AG (a) | ||
| 3.091%, due 5/14/32 (f) | 885,000 | 821,918 |
| 4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (b)(e) | 2,265,000 | 2,068,642 |
| USB Realty Corp. | ||
| 5.081% (3 Month SOFR + 1.409%), due 1/15/27 (a)(b)(e) | 2,590,000 | 2,176,710 |
| Valley National Bancorp | ||
| 3.00%, due 6/15/31 (f) | 2,005,000 | 1,919,845 |
| Wells Fargo & Co. | ||
| 3.35%, due 3/2/33 (f) | 2,330,000 | 2,172,571 |
| 61,110,360 | ||
| Building Materials 0.8% | ||
| Cimko Cimento ve Beton Sanayi ve Ticaret AS | ||
| 10.75%, due 5/21/30 (a) | 1,450,000 | 1,565,255 |
| Masterbrand, Inc. | ||
| 7.00%, due 7/15/32 (a) | 2,670,000 | 2,768,859 |
| Miter Brands Acquisition Holdco, Inc. | ||
| 6.75%, due 4/1/32 (a) | 2,500,000 | 2,567,657 |
| MIWD Holdco II LLC | ||
| 5.50%, due 2/1/30 (a)(d) | 3,305,000 | 3,210,775 |
| Sisecam UK plc | ||
| 8.375%, due 1/23/33 (a) | 2,179,000 | 2,229,046 |
| 12,341,592 | ||
| Chemicals 0.8% | ||
| Alpek SAB de CV | ||
| 3.25%, due 2/25/31 (a) | 1,255,000 | 1,072,403 |
| Series Reg S | ||
| 3.25%, due 2/25/31 | 400,000 | 341,802 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Chemicals | ||
| Celanese US Holdings LLC | ||
| 7.20%, due 11/15/33 (c) | $ 3,115,000 | $ 3,295,381 |
| Huntsman International LLC | ||
| 4.50%, due 5/1/29 | 4,000,000 | 3,848,961 |
| Innophos Holdings, Inc. | ||
| 11.50%, due 6/15/29 (a) | 2,020,000 | 1,984,650 |
| Ma'aden Sukuk Ltd. | ||
| 5.50%, due 2/13/35 (a) | 930,000 | 952,368 |
| Qnity Electronics, Inc. | ||
| 5.75%, due 8/15/32 (a) | 1,520,000 | 1,548,445 |
| 13,044,010 | ||
| Coal 0.1% | ||
| SunCoke Energy, Inc. | ||
| 4.875%, due 6/30/29 (a) | 2,400,000 | 2,263,145 |
| Commercial Services 0.6% | ||
| Ashtead Capital, Inc. | ||
| 4.25%, due 11/1/29 (a) | 1,640,000 | 1,625,399 |
| Kaspi.KZ JSC | ||
| Series Reg S | ||
| 6.25%, due 3/26/30 | 2,550,000 | 2,617,011 |
| NESCO Holdings II, Inc. | ||
| 5.50%, due 4/15/29 (a) | 2,670,000 | 2,631,018 |
| Valvoline, Inc. | ||
| 3.625%, due 6/15/31 (a) | 3,185,000 | 2,925,390 |
| 9,798,818 | ||
| Cosmetics & Personal Care 0.1% | ||
| Coty, Inc. | ||
| 4.75%, due 1/15/29 (a) | 2,020,000 | 1,998,915 |
| Diversified Financial Services 1.2% | ||
| AerCap Ireland Capital DAC | ||
| 3.00%, due 10/29/28 | 1,650,000 | 1,600,649 |
| Ally Financial, Inc. | ||
| Series C | ||
| 4.70% (7 Year Treasury Constant Maturity Rate + 3.481%), due 5/15/28 (b)(e) | 1,315,000 | 1,260,440 |
| Avolon Holdings Funding Ltd. (a) | ||
| 3.25%, due 2/15/27 | 2,125,000 | 2,104,467 |
| 4.70%, due 1/30/31 | 1,975,000 | 1,964,480 |
| 5.75%, due 11/15/29 | 1,575,000 | 1,636,535 |
| Banco BTG Pactual SA | ||
| Series Reg S | ||
| 5.75%, due 1/22/30 | 815,000 | 827,225 |
| Bread Financial Holdings, Inc. (a) | ||
| 6.75%, due 5/15/31 | 3,175,000 | 3,269,856 |
| 8.375% (5 Year Treasury Constant Maturity Rate + 4.30%), due 6/15/35 (b) | 1,250,000 | 1,282,990 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Diversified Financial Services | ||
| Capital One Financial Corp. | ||
| 4.722%, due 1/30/32 (f) | $ 2,420,000 | $ 2,420,722 |
| Macquarie Airfinance Holdings Ltd. | ||
| 6.40%, due 3/26/29 (a) | 1,610,000 | 1,691,253 |
| OneMain Finance Corp. | ||
| 6.75%, due 3/15/32 | 1,105,000 | 1,129,360 |
| 19,187,977 | ||
| Electric 2.3% | ||
| AEP Texas, Inc. | ||
| 4.70%, due 5/15/32 | 1,175,000 | 1,178,406 |
| AES Andes SA | ||
| Series Reg S | ||
| 8.15% (5 Year Treasury Constant Maturity Rate + 3.835%), due 6/10/55 (b) | 950,000 | 1,009,765 |
| Alpha Generation LLC | ||
| 6.75%, due 10/15/32 (a) | 3,035,000 | 3,146,694 |
| Axia Energia | ||
| 6.50%, due 1/11/35 (a) | 600,000 | 624,780 |
| Aydem Yenilenebilir Enerji A/S | ||
| 9.875%, due 9/30/30 (a) | 2,161,000 | 2,168,482 |
| Banco Actinver SA Institucion de Banca Multiple | ||
| 7.25%, due 1/31/41 (a) | 396,203 | 412,095 |
| Clearway Energy Operating LLC | ||
| 5.75%, due 1/15/34 (a) | 3,010,000 | 3,020,973 |
| Edison International (b) | ||
| 7.875% (5 Year Treasury Constant Maturity Rate + 3.658%), due 6/15/54 | 925,000 | 963,430 |
| 8.125% (5 Year Treasury Constant Maturity Rate + 3.864%), due 6/15/53 | 2,870,000 | 2,970,106 |
| EnfraGen Energia Sur SA | ||
| Series Reg S | ||
| 5.375%, due 12/30/30 (d) | 980,000 | 914,158 |
| 5.375%, due 12/30/30 (a) | 1,305,000 | 1,217,323 |
| IPALCO Enterprises, Inc. | ||
| 5.75%, due 4/1/34 | 1,485,000 | 1,513,767 |
| Kentucky Power Co. | ||
| 7.00%, due 11/15/33 (a) | 1,630,000 | 1,772,605 |
| Ohio Power Co. | ||
| Series R | ||
| 2.90%, due 10/1/51 | 955,000 | 592,173 |
| Pacific Gas and Electric Co. | ||
| 3.50%, due 8/1/50 | 1,855,000 | 1,254,899 |
| PacifiCorp | ||
| 7.375% (5 Year Treasury Constant Maturity Rate + 3.319%), due 9/15/55 (b) | 1,135,000 | 1,165,650 |
| ReNew Treasury IFSC Pvt. Ltd. | ||
| 6.50%, due 2/2/31 (a) | 814,000 | 815,059 |
| Sempra | ||
| 4.125% (5 Year Treasury Constant Maturity Rate + 2.868%), due 4/1/52 (b) | 2,150,000 | 2,130,064 |
| Vistra Operations Co. LLC | ||
| 6.875%, due 4/15/32 (a) | 1,550,000 | 1,628,647 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Electric | ||
| XPLR Infrastructure Operating Partners LP (a) | ||
| 7.25%, due 1/15/29 | $ 2,990,000 | $ 3,085,333 |
| 8.375%, due 1/15/31 (d) | 1,140,000 | 1,197,478 |
| Zorlu Enerji Elektrik Uretim A/S | ||
| Series Reg S | ||
| 11.00%, due 4/23/30 | 3,725,000 | 3,470,457 |
| 36,252,344 | ||
| Electrical Components & Equipment 0.2% | ||
| Energizer Holdings, Inc. | ||
| 4.375%, due 3/31/29 (a) | 2,940,000 | 2,823,817 |
| Engineering & Construction 0.1% | ||
| Artera Services LLC | ||
| 8.50%, due 2/15/31 (a)(d) | 2,000,000 | 1,625,694 |
| Great Lakes Dredge & Dock Corp. | ||
| 5.25%, due 6/1/29 (a) | 700,000 | 688,526 |
| 2,314,220 | ||
| Food 0.5% | ||
| Grupo Nutresa SA (a) | ||
| 8.00%, due 5/12/30 | 460,000 | 489,889 |
| 9.00%, due 5/12/35 | 1,150,000 | 1,282,825 |
| JBS NV | ||
| 6.375%, due 2/25/55 | 3,435,000 | 3,545,667 |
| Post Holdings, Inc. (a) | ||
| 4.50%, due 9/15/31 | 480,000 | 454,735 |
| 4.625%, due 4/15/30 | 1,054,000 | 1,029,243 |
| Smithfield Foods, Inc. | ||
| 3.00%, due 10/15/30 (a) | 1,520,000 | 1,397,326 |
| 8,199,685 | ||
| Forest Products & Paper 0.4% | ||
| Eldorado International Finance GmbH | ||
| 8.50%, due 12/1/32 (a) | 2,200,000 | 2,285,147 |
| Suzano Austria GmbH | ||
| Series DM3N | ||
| 3.125%, due 1/15/32 | 700,000 | 628,133 |
| 3.75%, due 1/15/31 | 3,165,000 | 2,986,148 |
| 5,899,428 | ||
| Gas 0.3% | ||
| AmeriGas Partners LP | ||
| 9.375%, due 6/1/28 (a) | 2,455,000 | 2,538,487 |
| National Fuel Gas Co. | ||
| 2.95%, due 3/1/31 | 1,695,000 | 1,551,057 |
| 4,089,544 | ||
| Principal Amount | Value | |
| Corporate Bonds | ||
| Healthcare-Services 0.5% | ||
| Global Medical Response, Inc. | ||
| 7.375%, due 10/1/32 (a) | $ 2,500,000 | $ 2,584,975 |
| Molina Healthcare, Inc. | ||
| 6.50%, due 2/15/31 (a) | 3,020,000 | 3,095,041 |
| Prime Healthcare Services, Inc. | ||
| 9.375%, due 9/1/29 (a) | 2,170,000 | 2,259,512 |
| Rede D'or Finance SARL | ||
| 6.45%, due 9/9/35 (a) | 400,000 | 409,210 |
| 8,348,738 | ||
| Housewares 0.2% | ||
| Newell Brands, Inc. | ||
| 8.50%, due 6/1/28 (a) | 3,170,000 | 3,323,571 |
| Insurance 0.3% | ||
| Athene Global Funding | ||
| 5.526%, due 7/11/31 (a) | 1,360,000 | 1,395,989 |
| Lincoln National Corp. | ||
| 6.471% (3 Month SOFR + 2.619%), due 5/17/66 (b) | 3,537,000 | 3,073,360 |
| 4,469,349 | ||
| Internet 1.0% | ||
| Cogent Communications Group LLC (a) | ||
| 6.50%, due 7/1/32 | 805,000 | 739,202 |
| 7.00%, due 6/15/27 | 3,200,000 | 3,186,240 |
| Prosus NV | ||
| Series Reg S | ||
| 4.027%, due 8/3/50 | 2,350,000 | 1,647,361 |
| Series Reg S | ||
| 4.987%, due 1/19/52 | 3,795,000 | 3,044,451 |
| Rakuten Group, Inc. | ||
| 9.75%, due 4/15/29 (a) | 2,500,000 | 2,800,884 |
| Wayfair LLC | ||
| 6.75%, due 11/15/32 (a) | 4,980,000 | 5,147,189 |
| 16,565,327 | ||
| Investment Companies 0.3% | ||
| GACI First Investment Co. | ||
| Series Reg S | ||
| 5.25%, due 1/29/34 | 2,645,000 | 2,686,936 |
| Series Reg S | ||
| 5.375%, due 1/29/54 | 3,256,000 | 2,950,657 |
| 5,637,593 | ||
| Iron & Steel 0.7% | ||
| Eregli Demir ve Celik Fabrikalari TAS | ||
| 8.375%, due 7/23/29 (a) | 2,110,000 | 2,232,203 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Iron & Steel | ||
| Metinvest BV | ||
| Series Reg S | ||
| 8.50%, due 4/23/26 | $ 2,700,000 | $ 2,510,002 |
| Mineral Resources Ltd. (a) | ||
| 7.00%, due 4/1/31 (d) | 1,105,000 | 1,161,306 |
| 9.25%, due 10/1/28 | 2,400,000 | 2,520,982 |
| Samarco Mineracao SA | ||
| Series Reg S | ||
| 9.50% (9.00% PIK), due 6/30/31 (g) | 2,664,584 | 2,662,811 |
| Usiminas International SARL | ||
| 7.50%, due 1/27/32 (a) | 296,000 | 307,064 |
| 11,394,368 | ||
| Leisure Time 0.3% | ||
| Carnival Corp. | ||
| 5.75%, due 8/1/32 (a) | 3,140,000 | 3,224,855 |
| NCL Finance Ltd. | ||
| 6.125%, due 3/15/28 (a) | 2,095,000 | 2,153,474 |
| 5,378,329 | ||
| Lodging 0.7% | ||
| Fortune Star BVI Ltd. | ||
| Series Reg S | ||
| 8.50%, due 5/19/28 | 1,600,000 | 1,651,628 |
| Las Vegas Sands Corp. | ||
| 5.625%, due 6/15/28 | 2,735,000 | 2,800,129 |
| Melco Resorts Finance Ltd. | ||
| Series Reg S | ||
| 5.625%, due 7/17/27 | 1,300,000 | 1,300,259 |
| 6.50%, due 9/24/33 (a) | 800,000 | 798,109 |
| Sands China Ltd. | ||
| 3.25%, due 8/8/31 (c) | 2,400,000 | 2,220,064 |
| Studio City Finance Ltd. | ||
| 6.50%, due 1/15/28 (a) | 2,170,000 | 2,170,628 |
| Series Reg S | ||
| 6.50%, due 1/15/28 | 960,000 | 960,278 |
| 11,901,095 | ||
| Machinery—Construction & Mining 0.2% | ||
| Terex Corp. | ||
| 6.25%, due 10/15/32 (a) | 2,540,000 | 2,600,729 |
| Media 0.5% | ||
| CCO Holdings LLC | ||
| 6.375%, due 9/1/29 (a) | 2,785,000 | 2,811,622 |
| Charter Communications Operating LLC | ||
| 6.10%, due 6/1/29 | 1,470,000 | 1,535,825 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Media | ||
| Nexstar Media, Inc. | ||
| 4.75%, due 11/1/28 (a) | $ 730,000 | $ 725,592 |
| Paramount Global | ||
| 4.95%, due 1/15/31 | 2,675,000 | 2,559,123 |
| 7,632,162 | ||
| Mining 1.0% | ||
| Compass Minerals International, Inc. | ||
| 8.00%, due 7/1/30 (a) | 1,230,000 | 1,304,582 |
| Freeport Indonesia PT | ||
| Series Reg S | ||
| 5.315%, due 4/14/32 | 2,950,000 | 3,003,831 |
| Series Reg S | ||
| 6.20%, due 4/14/52 | 1,745,000 | 1,775,019 |
| Navoi Mining & Metallurgical Combinat (a) | ||
| 6.70%, due 10/17/28 | 500,000 | 517,602 |
| 6.75%, due 5/14/30 | 400,000 | 421,146 |
| Perenti Finance Pty. Ltd. | ||
| 7.50%, due 4/26/29 (a) | 1,075,000 | 1,116,215 |
| Vedanta Resources Finance II plc | ||
| 9.125%, due 10/15/32 (a) | 535,000 | 560,431 |
| 10.875%, due 9/17/29 (a) | 1,600,000 | 1,714,012 |
| Series Reg S | ||
| 10.875%, due 9/17/29 | 1,390,000 | 1,489,048 |
| WE Soda Investments Holding plc | ||
| 9.375%, due 2/14/31 (a) | 2,210,000 | 2,285,176 |
| Series Reg S | ||
| 9.375%, due 2/14/31 | 1,245,000 | 1,287,350 |
| Series Reg S | ||
| 9.50%, due 10/6/28 | 500,000 | 515,466 |
| 15,989,878 | ||
| Miscellaneous—Manufacturing 0.1% | ||
| Textron Financial Corp. | ||
| 5.848% (3 Month SOFR + 1.997%), due 2/15/42 (a)(b) | 2,140,000 | 1,929,204 |
| Oil & Gas 2.6% | ||
| ADNOC Murban RSC Ltd. | ||
| Series Reg S | ||
| 5.125%, due 9/11/54 | 2,715,000 | 2,524,337 |
| Azule Energy Finance plc | ||
| 8.125%, due 1/23/30 (a) | 647,000 | 654,614 |
| Series Reg S | ||
| 8.125%, due 1/23/30 | 500,000 | 505,884 |
| 8.625%, due 1/22/33 (a) | 1,073,000 | 1,072,138 |
| California Resources Corp. | ||
| 8.25%, due 6/15/29 (a) | 3,200,000 | 3,365,696 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Oil & Gas | ||
| Comstock Resources, Inc. | ||
| 6.75%, due 3/1/29 (a) | $ 3,845,000 | $ 3,869,516 |
| Diamond Foreign Asset Co. | ||
| 8.50%, due 10/1/30 (a) | 2,500,000 | 2,658,325 |
| Energean Israel Finance Ltd. | ||
| Series Reg S | ||
| 5.375%, due 3/30/28 (a) | 1,655,000 | 1,636,590 |
| Hilcorp Energy I LP | ||
| 5.75%, due 2/1/29 (a) | 3,680,000 | 3,680,883 |
| KazMunayGas National Co. JSC | ||
| Series Reg S | ||
| 5.375%, due 4/24/30 | 2,382,000 | 2,437,784 |
| Kosmos Energy Ltd. | ||
| Series Reg S | ||
| 7.50%, due 3/1/28 | 1,550,000 | 1,171,389 |
| Series Reg S | ||
| 8.75%, due 10/1/31 | 3,080,000 | 1,943,974 |
| Moss Creek Resources Holdings, Inc. | ||
| 8.25%, due 9/1/31 (a) | 2,130,000 | 2,071,463 |
| Raizen Fuels Finance SA | ||
| Series Reg S | ||
| 5.70%, due 1/17/35 | 239,000 | 185,345 |
| Series Reg S | ||
| 6.45%, due 3/5/34 | 635,000 | 520,700 |
| Series Reg S | ||
| 6.70%, due 2/25/37 (d) | 200,000 | 163,000 |
| 6.95%, due 3/5/54 (a) | 2,515,000 | 1,918,191 |
| Series Reg S | ||
| 6.95%, due 3/5/54 | 750,000 | 572,025 |
| SEPLAT Energy plc | ||
| 9.125%, due 3/21/30 (a) | 1,550,000 | 1,627,702 |
| SM Energy Co. | ||
| 6.75%, due 8/1/29 (a) | 2,100,000 | 2,123,904 |
| Transocean International Ltd. | ||
| 8.75%, due 2/15/30 (a) | 1,601,250 | 1,669,197 |
| Tullow Oil plc | ||
| Series Reg S | ||
| 10.25%, due 5/15/26 | 4,030,000 | 3,103,100 |
| Valaris Ltd. | ||
| 8.375%, due 4/30/30 (a) | 2,000,000 | 2,089,820 |
| 41,565,577 | ||
| Oil & Gas Services 0.1% | ||
| Yinson Boronia Production BV | ||
| Series Reg S | ||
| 8.947%, due 7/31/42 | 1,908,220 | 2,117,611 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Packaging & Containers 0.4% | ||
| Berry Global, Inc. | ||
| 4.875%, due 7/15/26 (a) | $ 577,000 | $ 577,324 |
| Cascades, Inc. | ||
| 6.75%, due 7/15/30 (a) | 3,000,000 | 3,105,810 |
| Clydesdale Acquisition Holdings, Inc. | ||
| 6.75%, due 4/15/32 (a) | 2,500,000 | 2,519,511 |
| 6,202,645 | ||
| Pharmaceuticals 0.1% | ||
| Hikma Finance USA LLC | ||
| Series Reg S | ||
| 5.125%, due 7/8/30 | 1,440,000 | 1,441,971 |
| Pipelines 1.1% | ||
| Cheniere Corpus Christi Holdings LLC | ||
| 2.742%, due 12/31/39 | 1,710,000 | 1,464,180 |
| CNX Midstream Partners LP | ||
| 4.75%, due 4/15/30 (a) | 2,570,000 | 2,496,902 |
| DCP Midstream Operating LP | ||
| 3.25%, due 2/15/32 | 3,090,000 | 2,844,196 |
| Delek Logistics Partners LP | ||
| 7.125%, due 6/1/28 (a) | 1,110,000 | 1,117,333 |
| Energy Transfer LP | ||
| Series H | ||
| 6.50% (5 Year Treasury Constant Maturity Rate + 5.694%), due 11/15/26 (b)(e) | 2,520,000 | 2,531,642 |
| Flex Intermediate Holdco LLC | ||
| 3.363%, due 6/30/31 (a) | 2,490,000 | 2,294,147 |
| Greensaif Pipelines Bidco SARL | ||
| Series Reg S | ||
| 6.103%, due 8/23/42 | 1,500,000 | 1,549,961 |
| Plains All American Pipeline LP | ||
| 3.80%, due 9/15/30 | 1,040,000 | 1,012,840 |
| Western Midstream Operating LP | ||
| 5.25%, due 2/1/50 (c) | 1,800,000 | 1,545,770 |
| 16,856,971 | ||
| Real Estate 0.8% | ||
| Alpha Star Holding VII Ltd. | ||
| Series Reg S | ||
| 7.75%, due 4/27/26 | 1,300,000 | 1,305,259 |
| Dar Al-Arkan Sukuk Co. Ltd. | ||
| Series Reg S | ||
| 6.875%, due 2/26/27 | 1,450,000 | 1,462,074 |
| InRetail Shopping Malls | ||
| 5.65%, due 10/16/32 (a) | 3,100,000 | 3,090,080 |
| MAF Global Securities Ltd. | ||
| Series Reg S | ||
| 7.875% (5 Year Treasury Constant Maturity Rate + 4.893%), due 6/30/27 (b)(e) | 3,200,000 | 3,298,246 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Real Estate | ||
| Omniyat Sukuk 1 Ltd. | ||
| Series Reg S | ||
| 8.375%, due 5/6/28 | $ 3,000,000 | $ 3,086,799 |
| 12,242,458 | ||
| Real Estate Investment Trusts 0.7% | ||
| MPT Operating Partnership LP | ||
| 8.50%, due 2/15/32 (a) | 1,600,000 | 1,714,171 |
| Park Intermediate Holdings LLC | ||
| 5.875%, due 10/1/28 (a) | 2,565,000 | 2,565,026 |
| Starwood Property Trust, Inc. (a) | ||
| 3.625%, due 7/15/26 | 3,172,000 | 3,151,066 |
| 6.00%, due 4/15/30 | 1,625,000 | 1,670,271 |
| Trust 2401 | ||
| 7.70%, due 1/23/32 (a) | 1,731,000 | 1,900,378 |
| Trust Fibra Uno | ||
| 8.25%, due 1/23/37 (a) | 180,000 | 204,190 |
| 11,205,102 | ||
| Retail 1.4% | ||
| Arcos Dorados BV | ||
| 6.375%, due 1/29/32 (a) | 2,290,000 | 2,401,065 |
| AutoNation, Inc. | ||
| 4.75%, due 6/1/30 | 1,116,000 | 1,125,767 |
| Bath & Body Works, Inc. | ||
| 6.625%, due 10/1/30 (a) | 2,485,000 | 2,544,898 |
| El Puerto de Liverpool SAB de CV | ||
| 6.658%, due 1/22/37 (a) | 681,000 | 731,354 |
| Series Reg S | ||
| 6.658%, due 1/22/37 | 300,000 | 322,182 |
| Macy's Retail Holdings LLC (a) | ||
| 6.125%, due 3/15/32 | 90,000 | 90,967 |
| 7.375%, due 8/1/33 (d) | 3,400,000 | 3,590,305 |
| PetSmart LLC | ||
| 7.50%, due 9/15/32 (a) | 3,750,000 | 3,845,479 |
| Sally Holdings LLC | ||
| 6.75%, due 3/1/32 (d) | 765,000 | 792,926 |
| Staples, Inc. | ||
| 10.75%, due 9/1/29 (a) | 1,480,000 | 1,454,296 |
| Victoria's Secret & Co. | ||
| 4.625%, due 7/15/29 (a)(d) | 3,070,000 | 3,001,976 |
| Victra Holdings LLC | ||
| 8.75%, due 9/15/29 (a) | 2,135,000 | 2,247,517 |
| 22,148,732 | ||
| Semiconductors 0.2% | ||
| Kioxia Holdings Corp. | ||
| 6.25%, due 7/24/30 (a) | 2,720,000 | 2,809,929 |
| Principal Amount | Value | |
| Corporate Bonds | ||
| Software 0.2% | ||
| Cloud Software Group, Inc. (a) | ||
| 6.50%, due 3/31/29 | $ 1,720,000 | $ 1,709,280 |
| 8.25%, due 6/30/32 | 2,135,000 | 2,171,472 |
| 3,880,752 | ||
| Telecommunications 1.2% | ||
| AT&T, Inc. | ||
| 3.50%, due 9/15/53 | 1,485,000 | 991,904 |
| Axian Telecom Holding & Management plc | ||
| 7.25%, due 7/11/30 (a) | 1,860,000 | 1,886,790 |
| Iliad Holding SAS | ||
| 8.50%, due 4/15/31 (a) | 2,135,000 | 2,286,201 |
| Silk Road Group Holding LLC | ||
| Series Reg S | ||
| 7.50%, due 9/15/30 | 1,100,000 | 1,123,650 |
| Total Play Telecomunicaciones SA de CV | ||
| Series Reg S | ||
| 10.50%, due 12/31/28 | 1,150,000 | 1,132,951 |
| Series Reg S | ||
| 11.125%, due 12/31/32 | 1,450,000 | 1,392,000 |
| Uniti Services LLC | ||
| 7.50%, due 10/15/33 (a) | 1,390,000 | 1,435,110 |
| Veon Midco BV | ||
| Series Reg S | ||
| 3.375%, due 11/25/27 | 2,560,000 | 2,444,690 |
| Windstream Services LLC | ||
| 8.25%, due 10/1/31 (a) | 2,705,000 | 2,833,555 |
| WULF Compute LLC | ||
| 7.75%, due 10/15/30 (a) | 3,730,000 | 3,890,465 |
| 19,417,316 | ||
| Transportation 0.2% | ||
| Danaos Corp. | ||
| 6.875%, due 10/15/32 (a) | 1,720,000 | 1,776,488 |
| Yinson Bergenia Production BV | ||
| 8.498%, due 1/31/45 (a) | 1,950,000 | 2,119,833 |
| 3,896,321 | ||
| Water 0.1% | ||
| Aegea Finance SARL (a) | ||
| 7.625%, due 1/20/36 | 1,120,000 | 1,093,030 |
| 9.00%, due 1/20/31 | 345,000 | 366,654 |
| 1,459,684 | ||
| Total Corporate Bonds (Cost $452,513,962) | 454,166,782 | |
| Principal Amount | Value | |
| Foreign Government Bonds 5.6% | ||
| Angola 0.2% | ||
| Angola Government Bond | ||
| 8.75%, due 4/14/32 (a) | $ 3,075,000 | $ 3,007,908 |
| Argentina 0.6% | ||
| Argentina Government Bond | ||
| 1.00%, due 7/9/29 | 2,751,000 | 2,420,880 |
| 3.50%, due 7/9/41 (c) | 2,268,000 | 1,639,764 |
| 4.125%, due 7/9/35 (c) | 2,750,030 | 2,127,148 |
| Provincia de Cordoba | ||
| 8.60%, due 2/3/35 (a) | 1,430,000 | 1,401,648 |
| YPF SA | ||
| 8.25%, due 1/17/34 (a) | 1,700,000 | 1,730,692 |
| 9,320,132 | ||
| Bahamas 0.2% | ||
| Bahamas Government Bond | ||
| 8.25%, due 6/24/36 (a) | 1,250,000 | 1,394,137 |
| Series Reg S | ||
| 8.25%, due 6/24/36 | 1,825,000 | 2,035,441 |
| 3,429,578 | ||
| Chile 0.3% | ||
| Corp. Nacional del Cobre de Chile | ||
| 6.33%, due 1/13/35 (a) | 1,600,000 | 1,698,304 |
| 6.44%, due 1/26/36 (a) | 1,875,000 | 2,018,093 |
| Series Reg S | ||
| 6.44%, due 1/26/36 | 520,000 | 559,684 |
| Empresa Nacional del Petroleo | ||
| 3.45%, due 9/16/31 (a) | 1,049,000 | 966,683 |
| 5,242,764 | ||
| Colombia 0.4% | ||
| Colombia Government Bond | ||
| 7.75%, due 11/7/36 | 2,725,000 | 2,846,808 |
| Ecopetrol SA | ||
| 5.875%, due 5/28/45 (d) | 3,530,000 | 2,667,591 |
| 6.875%, due 4/29/30 | 275,000 | 278,004 |
| 8.375%, due 1/19/36 | 910,000 | 941,506 |
| 6,733,909 | ||
| Cote D'Ivoire 0.2% | ||
| Ivory Coast Government Bond | ||
| Series Reg S | ||
| 8.25%, due 1/30/37 | 2,140,000 | 2,308,939 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Dominican Republic 0.2% | ||
| Dominican Republic Government Bond | ||
| Series Reg S | ||
| 4.875%, due 9/23/32 | $ 610,000 | $ 583,300 |
| 4.875%, due 9/23/32 (a) | 2,160,000 | 2,065,457 |
| 2,648,757 | ||
| Ecuador 0.2% | ||
| Ecuador Government Bond | ||
| Series Reg S | ||
| 6.90%, due 7/31/35 (c) | 2,442,000 | 2,224,662 |
| 8.75%, due 1/29/34 (a) | 1,210,000 | 1,222,100 |
| 3,446,762 | ||
| El Salvador 0.1% | ||
| El Salvador Government Bond | ||
| Series Reg S | ||
| 8.25%, due 4/10/32 (d) | 1,500,000 | 1,612,080 |
| Israel 0.1% | ||
| Israel Government Bond | ||
| 5.75%, due 3/12/54 | 2,313,000 | 2,218,063 |
| Kenya 0.1% | ||
| Kenya Government Bond | ||
| 8.80%, due 10/9/38 (a) | 2,220,000 | 2,245,277 |
| Mexico 0.5% | ||
| Mexico Government Bond | ||
| 6.338%, due 5/4/53 | 3,400,000 | 3,220,820 |
| Petroleos Mexicanos | ||
| 7.69%, due 1/23/50 | 600,000 | 539,772 |
| 8.75%, due 6/2/29 | 675,000 | 724,752 |
| 10.00%, due 2/7/33 | 2,935,000 | 3,421,550 |
| 7,906,894 | ||
| Morocco 0.3% | ||
| OCP SA | ||
| Series Reg S | ||
| 6.75%, due 5/2/34 | 1,500,000 | 1,605,213 |
| Series Reg S | ||
| 6.875%, due 4/25/44 | 3,365,000 | 3,474,362 |
| 5,079,575 | ||
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Paraguay 0.1% | ||
| Paraguay Government Bond | ||
| Series Reg S | ||
| 6.10%, due 8/11/44 | $ 450,000 | $ 458,384 |
| 6.10%, due 8/11/44 (a) | 1,150,000 | 1,171,424 |
| 1,629,808 | ||
| Poland 0.1% | ||
| Poland Government Bond | ||
| 5.125%, due 9/18/34 | 2,240,000 | 2,272,062 |
| Romania 0.1% | ||
| Romanian Government Bond | ||
| Series Reg S | ||
| 3.00%, due 2/14/31 | 2,020,000 | 1,840,824 |
| Saudi Arabia 0.4% | ||
| KSA Sukuk Ltd. | ||
| Series Reg S | ||
| 5.25%, due 6/4/34 (d) | 2,985,000 | 3,060,327 |
| Saudi Arabian Oil Co. | ||
| Series Reg S | ||
| 5.75%, due 7/17/54 | 2,200,000 | 2,087,481 |
| Saudi Government Bond | ||
| Series Reg S | ||
| 4.875%, due 7/18/33 | 340,000 | 341,662 |
| 5,489,470 | ||
| Supranational 0.9% | ||
| Africa Finance Corp. | ||
| Series Reg S | ||
| 5.55%, due 10/8/29 (d) | 1,600,000 | 1,637,681 |
| 7.50% (5 Year Treasury Constant Maturity Rate + 3.015%), due 1/21/30 (a)(b)(e) | 1,820,000 | 1,856,778 |
| Series Reg S | ||
| 7.50% (5 Year Treasury Constant Maturity Rate + 3.015%), due 1/21/30 (b)(e) | 550,000 | 561,114 |
| African Development Bank | ||
| (zero coupon), due 4/5/46 | ZAR 163,500,000 | 1,872,398 |
| African Export-Import Bank (The) | ||
| Series Reg S | ||
| 3.994%, due 9/21/29 | $ 3,350,000 | 3,110,513 |
| Banque Ouest Africaine de Developpement | ||
| Series Reg S | ||
| 4.70%, due 10/22/31 | 2,100,000 | 1,951,094 |
| European Bank for Reconstruction & Development | ||
| (zero coupon), due 2/2/32 | BRL 6,250,000 | 611,240 |
| (zero coupon), due 7/11/36 | TRY 1,350,000,000 | 2,375,457 |
| Principal Amount | Value | |
| Foreign Government Bonds | ||
| Supranational | ||
| International Finance Corp. | ||
| 11.75%, due 7/18/30 | BRL 3,600,000 | $ 685,064 |
| 14,661,339 | ||
| Ukraine 0.2% | ||
| Ukraine Government Bond (c) | ||
| 4.50%, due 2/1/29 (a) | $ 735,525 | 570,828 |
| Series Reg S | ||
| 4.50%, due 2/1/29 | 2,798,325 | 2,171,731 |
| 2,742,559 | ||
| United Arab Emirates 0.2% | ||
| Abu Dhabi Government Bond | ||
| Series Reg S | ||
| 5.00%, due 4/30/34 | 2,515,000 | 2,625,067 |
| Uzbekistan 0.2% | ||
| Uzbekistan Government Bond | ||
| Series Reg S | ||
| 7.85%, due 10/12/28 | 1,915,000 | 2,049,873 |
| Uzbekneftegaz JSC | ||
| 8.75%, due 5/7/30 (a) | 1,500,000 | 1,622,297 |
| 3,672,170 | ||
| Total Foreign Government Bonds (Cost $86,509,149) | 90,133,937 | |
| Loan Assignments 1.9% | ||
| Automobile 0.1% | ||
| Wand NewCo 3, Inc. | ||
| First Lien Initial Term Loan | ||
| 6.172% (1 Month SOFR + 2.50%), due 1/30/31 (b) | 1,658,760 | 1,655,995 |
| Cargo Transport 0.2% | ||
| Genesee & Wyoming, Inc. | ||
| First Lien Initial Term Loan | ||
| 5.422% (3 Month SOFR + 1.75%), due 4/10/31 (b) | 2,416,962 | 2,413,117 |
| Chemicals, Plastics & Rubber 0.3% | ||
| INEOS US Petrochem LLC | ||
| First Lien New Term Loan B1 | ||
| 8.022% (1 Month SOFR + 4.25%), due 4/2/29 (b) | 2,719,580 | 1,890,108 |
| Magnera Corp. | ||
| First Lien Term Loan | ||
| 8.072% (3 Month SOFR + 4.25%), due 11/4/31 (b) | 3,413,445 | 3,382,154 |
| 5,272,262 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Diversified/Conglomerate Service 0.0% ‡ | ||
| TruGreen LP | ||
| First Lien Term Loan B | ||
| 7.667% (3 Month SOFR + 4.00%), due 11/2/27 (b) | $ 742,623 | $ 724,522 |
| Finance 0.4% | ||
| Arches Buyer, Inc. | ||
| First Lien New Term Loan | ||
| 7.022% (1 Month SOFR + 3.25%), due 12/6/27 (b) | 2,479,139 | 2,466,744 |
| Champ Acquisition Corp. | ||
| First Lien Initial Term Loan | ||
| 6.966% (1 Month SOFR + 3.25%), due 11/7/31 (b) | 1,974,684 | 1,967,278 |
| Fortress Intermediate 3, Inc. | ||
| First Lien Term Loan B | ||
| 6.675% (1 Month SOFR + 3.00%), due 6/27/31 (b) | 1,841,088 | 1,785,855 |
| 6,219,877 | ||
| High Tech Industries 0.1% | ||
| Ahead DB Holdings LLC | ||
| First Lien Term Loan B3 | ||
| 6.172% (3 Month SOFR + 2.50%), due 2/3/31 (b) | 1,541,623 | 1,514,644 |
| Media 0.3% | ||
| DIRECTV Financing LLC (b) | ||
| First Lien Closing Date Term Loan | ||
| 8.928% (3 Month SOFR + 5.00%), due 8/2/27 | 350,811 | 350,701 |
| First Lien 2024 Refinancing Term Loan B | ||
| 9.178% (3 Month SOFR + 5.25%), due 8/2/29 | 1,869,780 | 1,869,112 |
| Virgin Media Bristol LLC | ||
| First Lien Facility Advance Term Loan Q | ||
| 7.045% (1 Month SOFR + 3.25%), due 1/31/29 (b) | 2,900,000 | 2,886,225 |
| 5,106,038 | ||
| Personal Transportation 0.1% | ||
| First Student Bidco, Inc. (b) | ||
| First Lien Term Loan C | ||
| 6.172% (3 Month SOFR + 2.50%), due 8/15/30 | 398,937 | 398,189 |
| First Lien Term Loan B | ||
| 6.172% (3 Month SOFR + 2.50%), due 8/15/30 | 1,301,063 | 1,298,275 |
| 1,696,464 | ||
| Services: Business 0.2% | ||
| Beach Acquisition Bidco LLC | ||
| First Lien Tranche Term Loan B1 | ||
| 6.922% (3 Month SOFR + 3.25%), due 9/13/32 (b) | 1,100,000 | 1,102,750 |
| Staples, Inc. | ||
| First Lien Closing Date Term Loan | ||
| 9.604% (3 Month SOFR + 5.75%), due 8/23/29 (b) | 2,124,244 | 2,023,874 |
| 3,126,624 | ||
| Principal Amount | Value | |
| Loan Assignments | ||
| Software 0.2% | ||
| OPAL US LLC | ||
| First Lien Facility Term Loan B4 | ||
| 6.686% (3 Month SOFR + 3.00%), due 4/28/32 (b) | $ 2,493,750 | $ 2,494,920 |
| Total Loan Assignments (Cost $30,966,295) | 30,224,463 | |
| Mortgage-Backed Securities 26.8% | ||
| Agency (Collateralized Mortgage Obligations) 3.9% | ||
| FHLMC | ||
| REMIC, Series 5021, Class SA | ||
| (zero coupon) (SOFR 30A + 3.55%), due 10/25/50 (b)(h) | 2,771,824 | 56,470 |
| REMIC, Series 5200, Class SA | ||
| (zero coupon) (SOFR 30A + 3.50%), due 2/25/52 (b)(h) | 2,105,761 | 46,293 |
| REMIC, Series 5351, Class EO | ||
| (zero coupon), due 10/25/53 | 2,033,699 | 1,699,967 |
| REMIC, Series 5357, Class OE | ||
| (zero coupon), due 11/25/53 | 679,822 | 560,918 |
| REMIC, Series 5363 | ||
| (zero coupon), due 12/25/53 | 796,920 | 683,980 |
| REMIC, Series 4839, Class WO | ||
| (zero coupon), due 8/15/56 | 891,054 | 567,988 |
| REMIC, Series 5514, Class SA | ||
| 1.403% (SOFR 30A + 5.10%), due 3/25/55 (b)(h) | 6,143,988 | 185,166 |
| REMIC, Series 5471, Class SK | ||
| 1.653% (SOFR 30A + 5.35%), due 8/25/54 (b)(h) | 4,530,682 | 163,177 |
| REMIC, Series 5472, Class SB | ||
| 1.653% (SOFR 30A + 5.35%), due 11/25/54 (b)(h) | 14,786,907 | 568,681 |
| REMIC, Series 5531, Class SD | ||
| 2.203% (SOFR 30A + 5.90%), due 4/25/55 (b)(h) | 7,839,116 | 490,740 |
| REMIC, Series 4993, Class KS | ||
| 2.238% (SOFR 30A + 5.936%), due 7/25/50 (b)(h) | 4,085,658 | 546,432 |
| REMIC, Series 5031, Class IQ | ||
| 2.50%, due 10/25/50 (h) | 1,356,054 | 212,460 |
| REMIC, Series 5038, Class IB | ||
| 2.50%, due 10/25/50 (h) | 862,102 | 133,735 |
| REMIC, Series 5205, Class KI | ||
| 3.00%, due 12/25/48 (h) | 1,252,694 | 127,661 |
| REMIC, Series 5152, Class BI | ||
| 3.00%, due 7/25/50 (h) | 2,946,525 | 509,879 |
| REMIC, Series 5023, Class LI | ||
| 3.00%, due 10/25/50 (h) | 1,031,415 | 165,203 |
| REMIC, Series 5094, Class IP | ||
| 3.00%, due 4/25/51 (h) | 1,434,981 | 231,259 |
| REMIC, Series 5155, Class KI | ||
| 3.00%, due 10/25/51 (h) | 3,551,088 | 519,110 |
| REMIC, Series 5160 | ||
| 3.00%, due 10/25/51 (h) | 1,687,843 | 186,066 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| FHLMC | ||
| REMIC, Series 5167, Class GI | ||
| 3.00%, due 11/25/51 (h) | $ 3,393,899 | $ 562,508 |
| REMIC, Series 5547, Class ES | ||
| 3.303% (SOFR 30A + 7.00%), due 6/25/55 (b)(h) | 3,343,388 | 227,758 |
| REMIC, Series 5191 | ||
| 3.50%, due 9/25/50 (h) | 1,807,524 | 323,370 |
| REMIC, Series 5036 | ||
| 3.50%, due 11/25/50 (h) | 2,216,722 | 483,154 |
| REMIC, Series 5040 | ||
| 3.50%, due 11/25/50 (h) | 1,099,299 | 200,894 |
| FHLMC MSCR Trust | ||
| REMIC, Series 2025-MN12, Class B1 | ||
| 8.197% (SOFR 30A + 4.50%), due 11/25/45 (a)(b) | 3,380,000 | 3,436,780 |
| FHLMC, Strips (h) | ||
| Series 311, Class S1 | ||
| 2.128% (SOFR 30A + 5.836%), due 8/15/43 (b) | 3,625,830 | 374,660 |
| Series 397, Class C61 | ||
| 5.50%, due 1/25/53 | 2,488,868 | 429,131 |
| FNMA | ||
| REMIC, Series 2018-17, Class CS | ||
| (zero coupon) (SOFR 30A + 3.336%), due 3/25/48 (b)(h) | 36,364,524 | 391,417 |
| REMIC, Series 2023-70, Class AO | ||
| (zero coupon), due 3/25/53 | 964,071 | 821,085 |
| REMIC, Series 2023-45 | ||
| (zero coupon), due 10/25/53 | 1,089,411 | 861,587 |
| REMIC, Series 2025-44, Class SD | ||
| 1.403% (SOFR 30A + 5.10%), due 6/25/55 (b)(h) | 10,282,417 | 390,243 |
| REMIC, Series 2024-82, Class DS | ||
| 1.453% (SOFR 30A + 5.15%), due 11/25/54 (b)(h) | 7,740,989 | 244,626 |
| REMIC, Series 2022-10, Class SA | ||
| 2.053% (SOFR 30A + 5.75%), due 2/25/52 (b)(h) | 1,978,763 | 225,421 |
| REMIC, Series 2025-103, Class SA | ||
| 2.133% (SOFR 30A + 5.83%), due 6/25/55 (b)(h) | 6,876,722 | 428,486 |
| REMIC, Series 2024-48, Class SB | ||
| 2.203% (SOFR 30A + 5.90%), due 7/25/54 (b)(h) | 10,084,009 | 556,362 |
| REMIC, Series 2016-57, Class SN | ||
| 2.238% (SOFR 30A + 5.936%), due 6/25/46 (b)(h) | 1,646,755 | 178,509 |
| REMIC, Series 2019-32, Class SB | ||
| 2.238% (SOFR 30A + 5.936%), due 6/25/49 (b)(h) | 1,246,712 | 135,178 |
| REMIC, Series 2020-23, Class PS | ||
| 2.238% (SOFR 30A + 5.936%), due 2/25/50 (b)(h) | 2,158,430 | 258,257 |
| REMIC, Series 2016-19, Class SD | ||
| 2.288% (SOFR 30A + 5.986%), due 4/25/46 (b)(h) | 3,136,009 | 292,627 |
| REMIC, Series 2021-3, Class TI | ||
| 2.50%, due 2/25/51 (h) | 3,583,214 | 609,918 |
| REMIC, Series 2021-12, Class JI | ||
| 2.50%, due 3/25/51 (h) | 1,623,414 | 254,885 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| FNMA | ||
| REMIC, Series 2021-34, Class MI | ||
| 2.50%, due 3/25/51 (h) | $ 4,259,128 | $ 563,299 |
| REMIC, Series 2021-54, Class HI | ||
| 2.50%, due 6/25/51 (h) | 583,862 | 68,522 |
| REMIC, Series 2021-85, Class BI | ||
| 3.00%, due 12/25/51 (h) | 3,747,361 | 666,938 |
| REMIC, Series 2025-18, Class SM | ||
| 3.403% (SOFR 30A + 7.10%), due 9/25/54 (b)(h) | 2,810,198 | 196,013 |
| REMIC, Series 2021-8, Class ID | ||
| 3.50%, due 3/25/51 (h) | 4,430,662 | 947,439 |
| FNMA, Strips (h) | ||
| Series 426, Class C32 | ||
| 1.50%, due 2/25/52 | 6,039,820 | 573,777 |
| Series 440, Class C46 | ||
| 4.00%, due 10/25/53 | 5,803,545 | 1,228,623 |
| Series 438, Class C34 | ||
| 6.00%, due 8/25/53 | 3,160,711 | 699,446 |
| Series 2024-81 | ||
| 6.00%, due 7/25/54 | 3,349,276 | 601,423 |
| GNMA | ||
| REMIC, Series 2020-1, Class YS | ||
| (zero coupon) (1 Month SOFR + 2.716%), due 1/20/50 (b)(h) | 3,119,060 | 13,113 |
| REMIC, Series 2020-129, Class SB | ||
| (zero coupon) (1 Month SOFR + 3.086%), due 9/20/50 (b)(h) | 4,000,036 | 29,948 |
| REMIC, Series 2021-16, Class AS | ||
| (zero coupon) (1 Month SOFR + 2.636%), due 1/20/51 (b)(h) | 6,393,377 | 20,166 |
| REMIC, Series 2021-29, Class AS | ||
| (zero coupon) (SOFR 30A + 2.70%), due 2/20/51 (b)(h) | 6,089,168 | 21,941 |
| REMIC, Series 2021-205, Class DS | ||
| (zero coupon) (SOFR 30A + 3.20%), due 11/20/51 (b)(h) | 7,570,576 | 76,554 |
| REMIC, Series 2021-226, Class SA | ||
| (zero coupon) (SOFR 30A + 1.70%), due 12/20/51 (b)(h) | 5,198,160 | 4,484 |
| REMIC, Series 2022-87, Class SA | ||
| (zero coupon) (SOFR 30A + 3.30%), due 5/20/52 (b)(h) | 6,431,331 | 61,763 |
| REMIC, Series 2022-101, Class SB | ||
| (zero coupon) (SOFR 30A + 3.30%), due 6/20/52 (b)(h) | 3,220,966 | 31,792 |
| REMIC, Series 2022-107, Class SA | ||
| (zero coupon) (SOFR 30A + 3.47%), due 6/20/52 (b)(h) | 16,232,530 | 169,550 |
| REMIC, Series 2023-66, Class OQ | ||
| (zero coupon), due 7/20/52 | 1,725,238 | 1,394,626 |
| REMIC, Series 2023-53 | ||
| (zero coupon), due 4/20/53 | 527,229 | 432,730 |
| REMIC, Series 2023-101, Class EO | ||
| (zero coupon), due 7/20/53 | 672,815 | 567,689 |
| REMIC, Series 2021-158, Class SB | ||
| 0.038% (SOFR 30A + 3.70%), due 9/20/51 (b)(h) | 4,016,181 | 107,552 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| GNMA | ||
| REMIC, Series 2022-78, Class S | ||
| 0.038% (SOFR 30A + 3.70%), due 4/20/52 (b)(h) | $ 3,368,413 | $ 62,300 |
| REMIC, Series 2022-121, Class SG | ||
| 0.267% (SOFR 30A + 3.97%), due 7/20/52 (b)(h) | 6,658,444 | 106,943 |
| REMIC, Series 2024-51, Class SX | ||
| 1.497% (SOFR 30A + 5.20%), due 3/20/54 (b)(h) | 15,426,147 | 606,595 |
| REMIC, Series 2023-80, Class SA | ||
| 1.547% (SOFR 30A + 5.25%), due 6/20/53 (b)(h) | 5,893,606 | 261,643 |
| REMIC, Series 2020-166, Class IC | ||
| 2.00%, due 11/20/50 (h) | 1,197,692 | 147,683 |
| REMIC, Series 2020-188 | ||
| 2.00%, due 12/20/50 (h) | 2,625,060 | 301,724 |
| REMIC, Series 2021-30, Class HI | ||
| 2.00%, due 2/20/51 (h) | 5,066,401 | 562,704 |
| REMIC, Series 2021-205, Class GA | ||
| 2.00%, due 11/20/51 | 372,338 | 308,338 |
| REMIC, Series 2020-34, Class SC | ||
| 2.26% (1 Month SOFR + 5.936%), due 3/20/50 (b)(h) | 1,690,750 | 212,033 |
| REMIC, Series 2020-96, Class CS | ||
| 2.31% (1 Month SOFR + 5.986%), due 8/20/49 (b)(h) | 7,322,015 | 891,056 |
| REMIC, Series 2025-131, Class S | ||
| 2.347% (SOFR 30A + 6.05%), due 8/20/55 (b)(h) | 5,255,920 | 409,256 |
| REMIC, Series 2021-56, Class FE | ||
| 2.50% (SOFR 30A + 0.20%), due 10/20/50 (b)(h) | 3,501,653 | 517,757 |
| REMIC, Series 2021-1, Class PI | ||
| 2.50%, due 12/20/50 (h) | 977,447 | 149,490 |
| REMIC, Series 2021-137, Class HI | ||
| 2.50%, due 8/20/51 (h) | 2,503,995 | 354,202 |
| REMIC, Series 2021-188 | ||
| 2.50%, due 10/20/51 (h) | 4,398,108 | 723,597 |
| REMIC, Series 2020-146, Class SA | ||
| 2.51% (1 Month SOFR + 6.186%), due 10/20/50 (b)(h) | 2,112,634 | 285,406 |
| REMIC, Series 2020-167, Class SN | ||
| 2.51% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | 1,159,292 | 158,903 |
| REMIC, Series 2021-179, Class SA | ||
| 2.51% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | 3,350,291 | 469,575 |
| REMIC, Series 2020-189, Class NS | ||
| 2.51% (1 Month SOFR + 6.186%), due 12/20/50 (b)(h) | 3,727,982 | 527,905 |
| REMIC, Series 2020-189, Class SU | ||
| 2.51% (1 Month SOFR + 6.186%), due 12/20/50 (b)(h) | 1,190,246 | 168,766 |
| REMIC, Series 2021-46, Class TS | ||
| 2.51% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | 1,632,033 | 214,083 |
| REMIC, Series 2021-57, Class SA | ||
| 2.51% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | 5,456,886 | 718,656 |
| REMIC, Series 2021-57, Class SD | ||
| 2.51% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | 11,023,132 | 1,470,833 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| GNMA | ||
| REMIC, Series 2021-96, Class NS | ||
| 2.51% (1 Month SOFR + 6.186%), due 6/20/51 (b)(h) | $ 4,762,778 | $ 616,416 |
| REMIC, Series 2021-96, Class SN | ||
| 2.51% (1 Month SOFR + 6.186%), due 6/20/51 (b)(h) | 2,912,975 | 367,711 |
| REMIC, Series 2021-122, Class HS | ||
| 2.51% (1 Month SOFR + 6.186%), due 7/20/51 (b)(h) | 3,337,331 | 454,915 |
| REMIC, Series 2021-135, Class GS | ||
| 2.51% (1 Month SOFR + 6.186%), due 8/20/51 (b)(h) | 5,666,017 | 751,621 |
| REMIC, Series 2021-96, Class JS | ||
| 2.56% (1 Month SOFR + 6.236%), due 6/20/51 (b)(h) | 2,743,555 | 382,744 |
| REMIC, Series 2023-86, Class SE | ||
| 2.947% (SOFR 30A + 6.65%), due 9/20/50 (b)(h) | 2,116,678 | 318,200 |
| REMIC, Series 2021-1, Class IT | ||
| 3.00%, due 1/20/51 (h) | 3,404,148 | 590,636 |
| REMIC, Series 2021-67, Class PI | ||
| 3.00%, due 4/20/51 (h) | 2,069,327 | 351,696 |
| REMIC, Series 2021-74, Class HI | ||
| 3.00%, due 4/20/51 (h) | 427,941 | 64,102 |
| REMIC, Series 2021-98, Class IN | ||
| 3.00%, due 6/20/51 (h) | 1,419,929 | 257,864 |
| REMIC, Series 2024-48, Class JI | ||
| 3.00%, due 7/20/51 (h) | 4,115,903 | 693,787 |
| REMIC, Series 2022-207 | ||
| 3.00%, due 8/20/51 (h) | 2,506,089 | 421,010 |
| REMIC, Series 2021-177, Class IM | ||
| 3.00%, due 10/20/51 (h) | 2,548,913 | 433,493 |
| REMIC, Series 2021-146, Class IN | ||
| 3.50%, due 8/20/51 (h) | 4,298,195 | 749,433 |
| REMIC, Series 2023-60, Class ES | ||
| 3.794% (SOFR 30A + 11.20%), due 4/20/53 (b) | 1,136,142 | 1,054,101 |
| REMIC, Series 2016-93, Class AI | ||
| 4.50%, due 7/20/44 (h) | 2,881,629 | 671,191 |
| REMIC, Series 2023-66, Class MP | ||
| 4.894% (SOFR 30A + 12.30%), due 5/20/53 (b) | 1,552,095 | 1,476,333 |
| Multifamily Connecticut Avenue Securities Trust (a)(b) | ||
| Series 2025-01, Class M2 | ||
| 6.797% (SOFR 30A + 3.10%), due 5/25/55 | 1,620,000 | 1,616,320 |
| Series 2024-01, Class M10 | ||
| 7.547% (SOFR 30A + 3.85%), due 7/25/54 | 660,000 | 678,220 |
| Series 2025-01, Class B1 | ||
| 8.897% (SOFR 30A + 5.20%), due 5/25/55 | 5,305,000 | 5,514,325 |
| Series 2019-01, Class B10 | ||
| 9.312% (SOFR 30A + 5.614%), due 10/25/49 | 3,400,000 | 3,466,854 |
| Series 2020-01, Class CE | ||
| 11.312% (SOFR 30A + 7.614%), due 3/25/50 | 2,090,000 | 2,161,109 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Agency (Collateralized Mortgage Obligations) | ||
| Multifamily Connecticut Avenue Securities Trust (a)(b) | ||
| Series 2019-01, Class CE | ||
| 12.562% (SOFR 30A + 8.864%), due 10/25/49 | $ 1,500,000 | $ 1,533,178 |
| 62,074,136 | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) 12.1% | ||
| Alen Mortgage Trust | ||
| Series 2021-ACEN, Class A | ||
| 4.945% (1 Month SOFR + 1.264%), due 4/15/34 (a)(b) | 3,210,000 | 3,083,241 |
| BAMLL Commercial Mortgage Securities Trust (a) | ||
| Series 2016-ISQ, Class A | ||
| 2.848%, due 8/14/34 | 4,090,000 | 3,399,813 |
| Series 2014-520M, Class A | ||
| 4.185%, due 8/15/46 (i) | 3,120,000 | 2,862,173 |
| BANK | ||
| Series 2020-BN25, Class D | ||
| 2.50%, due 1/15/63 (a) | 3,420,000 | 2,693,152 |
| Series 2017-BNK8, Class D | ||
| 2.60%, due 11/15/50 (a) | 1,100,000 | 578,545 |
| Series 2017-BNK6, Class D | ||
| 3.10%, due 7/15/60 (a) | 2,695,000 | 2,334,427 |
| Series 2017-BNK8, Class B | ||
| 3.945%, due 11/15/50 (i) | 1,500,000 | 1,385,732 |
| Series 2017-BNK4, Class C | ||
| 4.372%, due 5/15/50 (j) | 2,045,000 | 1,815,283 |
| Bank of America Merrill Lynch Commercial Mortgage Trust | ||
| Series 2016-UB10, Class D | ||
| 3.00%, due 7/15/49 (a) | 2,880,000 | 2,506,588 |
| Benchmark Mortgage Trust | ||
| Series 2018-B6, Class D | ||
| 3.086%, due 10/10/51 (a)(i) | 1,370,000 | 1,033,777 |
| Series 2020-B17, Class C | ||
| 3.371%, due 3/15/53 (j) | 1,910,000 | 1,448,235 |
| Series 2019-B14, Class C | ||
| 3.778%, due 12/15/62 (i) | 2,880,000 | 2,039,467 |
| BF Mortgage Trust | ||
| Series 2019-NYT, Class F | ||
| 6.978% (1 Month SOFR + 3.297%), due 12/15/35 (a)(b) | 3,438,000 | 3,068,550 |
| BX Commercial Mortgage Trust (a) | ||
| Series 2019-IMC, Class F | ||
| 6.626% (1 Month SOFR + 2.946%), due 4/15/34 (b) | 3,800,000 | 3,730,886 |
| Series 2024-VLT5, Class E | ||
| 8.134%, due 11/13/46 (i) | 4,480,000 | 4,812,442 |
| Series 2024-BRBK, Class D | ||
| 9.648% (1 Month SOFR + 5.971%), due 10/15/41 (b) | 1,840,000 | 1,846,900 |
| BX Trust (a) | ||
| Series 2025-VLT7, Class A | ||
| 5.38% (1 Month SOFR + 1.70%), due 7/15/44 (b) | 2,735,000 | 2,743,543 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
| BX Trust (a) | ||
| Series 2025-ARIA, Class C | ||
| 5.517%, due 12/13/42 (i) | $ 4,070,000 | $ 4,134,744 |
| Series 2025-VOLT, Class B | ||
| 5.78% (1 Month SOFR + 2.10%), due 12/15/44 (b) | 3,335,000 | 3,351,675 |
| Series 2025-VLT7, Class E | ||
| 7.43% (1 Month SOFR + 3.75%), due 7/15/44 (b) | 1,600,000 | 1,599,999 |
| CAMB Commercial Mortgage Trust | ||
| Series 2021-CX2, Class D | ||
| 2.771%, due 11/10/46 (a)(i) | 2,000,000 | 1,571,740 |
| Cantor Commercial Real Estate Lending | ||
| Series 2019-CF3, Class C | ||
| 3.597%, due 1/15/53 (i) | 2,170,000 | 1,796,001 |
| CD Mortgage Trust | ||
| Series 2017-CD4, Class D | ||
| 3.30%, due 5/10/50 (a) | 2,765,000 | 2,429,567 |
| CFCRE Commercial Mortgage Trust (a)(i) | ||
| Series 2016-C3, Class D | ||
| 3.052%, due 1/10/48 | 2,205,000 | 2,138,850 |
| Series 2016-C4, Class D | ||
| 4.765%, due 5/10/58 | 1,940,000 | 1,890,653 |
| Citigroup Commercial Mortgage Trust | ||
| Series 2018-B2, Class D | ||
| 3.145%, due 3/10/51 (a)(i) | 2,735,000 | 2,082,579 |
| Series 2015-GC35, Class AS | ||
| 4.072%, due 11/10/48 (j) | 1,165,000 | 1,103,260 |
| Commercial Mortgage Trust | ||
| Series 2020-CX, Class D | ||
| 2.683%, due 11/10/46 (a)(i) | 2,805,000 | 2,240,067 |
| Series 2014-CR20, Class D | ||
| 3.222%, due 11/10/47 (a) | 2,070,000 | 1,524,017 |
| Series 2015-CR22, Class C | ||
| 3.699%, due 3/10/48 (i) | 973,000 | 904,890 |
| Series 2013-CR6, Class D | ||
| 3.871%, due 3/10/46 (a)(i) | 2,110,000 | 1,963,042 |
| Series 2016-DC2, Class D | ||
| 3.882%, due 2/10/49 (a)(i) | 4,160,000 | 3,788,767 |
| Series 2018-HCLV, Class A | ||
| 4.976% (1 Month SOFR + 1.296%), due 9/15/33 (a)(b) | 3,860,000 | 3,562,695 |
| CSMC OA LLC | ||
| Series 2014-USA, Class A2 | ||
| 3.953%, due 9/15/37 (a) | 2,740,000 | 2,521,061 |
| DBUBS Mortgage Trust | ||
| Series 2011-LC3A, Class PM2 | ||
| 5.268%, due 5/10/44 (a)(i) | 3,105,000 | 1,991,174 |
| DLIC Re-REMIC Trust | ||
| Series 2025-FRR1, Class C104 | ||
| 1.635%, due 12/27/52 (a)(j) | 3,705,000 | 3,130,018 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
| Durst Commercial Mortgage Trust | ||
| Series 2025-151, Class D | ||
| 7.018%, due 8/10/42 (a)(i) | $ 2,795,000 | $ 2,878,759 |
| Extended Stay America Trust | ||
| Series 2026-ESH2, Class D | ||
| 5.91% (1 Month SOFR + 2.25%), due 2/15/43 (a)(b)(k) | 3,250,000 | 3,272,344 |
| FHLMC MSCR Trust (a)(b) | ||
| Series 2021-MN3, Class M1 | ||
| 5.997% (SOFR 30A + 2.30%), due 11/25/51 | 613,300 | 613,883 |
| REMIC, Series 2025-MN11, Class M2 | ||
| 6.347% (SOFR 30A + 2.65%), due 7/25/45 | 3,430,000 | 3,383,324 |
| Series 2025-MN10, Class M2 | ||
| 6.547% (SOFR 30A + 2.85%), due 2/25/45 | 2,940,000 | 2,970,890 |
| Series 2024-MN9, Class M2 | ||
| 6.947% (SOFR 30A + 3.25%), due 10/25/44 | 4,435,000 | 4,504,206 |
| Series 2024-MN8, Class M2 | ||
| 7.947% (SOFR 30A + 4.25%), due 5/25/44 | 2,375,000 | 2,474,248 |
| Series 2025-MN10, Class B1 | ||
| 8.647% (SOFR 30A + 4.95%), due 2/25/45 | 4,515,000 | 4,571,395 |
| REMIC, Series 2024-MN9, Class B1 | ||
| 9.697% (SOFR 30A + 6.00%), due 10/25/44 | 3,525,000 | 3,719,085 |
| GNMA (h) | ||
| REMIC, Series 2025-112 | ||
| 0.566%, due 3/16/66 (i) | 14,503,799 | 744,193 |
| REMIC, Series 2023-194, Class CI | ||
| 0.818%, due 10/16/65 (i) | 6,707,995 | 412,653 |
| REMIC, Series 2020-177 | ||
| 0.822%, due 6/16/62 (i) | 5,134,724 | 301,371 |
| REMIC, Series 2023-159, Class CI | ||
| 0.955%, due 7/16/65 (j) | 9,076,742 | 634,763 |
| REMIC, Series 2020-168, Class IA | ||
| 0.974%, due 12/16/62 (i) | 4,531,791 | 322,098 |
| REMIC, Series 2021-47 | ||
| 0.992%, due 3/16/61 (i) | 10,153,093 | 671,056 |
| REMIC, Series 2022-185, Class DI | ||
| 1.022%, due 10/16/65 (i) | 4,702,726 | 321,238 |
| REMIC, Series 2023-172 | ||
| 1.331%, due 2/16/66 (i) | 6,123,989 | 557,328 |
| GS Mortgage Securities Corp. Trust (a) | ||
| Series 2017-GPTX, Class A | ||
| 2.856%, due 5/10/34 | 3,491,745 | 3,090,143 |
| Series 2012-BWTR, Class A | ||
| 2.954%, due 11/5/34 | 2,972,263 | 2,642,349 |
| GS Mortgage Securities Trust | ||
| Series 2018-GS10, Class D | ||
| 3.00%, due 7/10/51 (a) | 3,600,000 | 2,907,932 |
| Series 2015-GC30, Class D | ||
| 3.384%, due 5/10/50 | 6,924,500 | 3,860,409 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
| GS Mortgage Securities Trust | ||
| Series 2015-GC30, Class B | ||
| 3.998%, due 5/10/50 (i) | $ 1,039,575 | $ 1,008,232 |
| Series 2014-GC22, Class B | ||
| 4.391%, due 6/10/47 (j) | 1,500,000 | 1,224,757 |
| IRV Trust | ||
| Series 2025-200P, Class A | ||
| 5.295%, due 3/14/47 (a)(i) | 3,500,000 | 3,595,495 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust (a) | ||
| Series 2012-WLDN, Class A | ||
| 3.905%, due 5/5/30 | 686,613 | 662,581 |
| Series 2022-NLP, Class A | ||
| 4.527% (1 Month SOFR + 0.847%), due 4/15/37 (b) | 1,840,979 | 1,831,774 |
| Series 2021-1440, Class A | ||
| 5.095% (1 Month SOFR + 1.414%), due 3/15/36 (b) | 3,190,000 | 3,000,405 |
| Series 2022-NLP, Class G | ||
| 8.205% (1 Month SOFR + 4.525%), due 4/15/37 (b) | 2,817,825 | 2,709,730 |
| JPMCC Commercial Mortgage Securities Trust | ||
| Series 2019-COR5, Class D | ||
| 3.00%, due 6/13/52 (a) | 520,000 | 406,119 |
| JPMDB Commercial Mortgage Securities Trust | ||
| Series 2017-C7, Class D | ||
| 3.00%, due 10/15/50 (a) | 1,575,000 | 1,215,090 |
| Series 2017-C5, Class B | ||
| 4.009%, due 3/15/50 (j) | 2,870,000 | 2,404,072 |
| LSTAR Commercial Mortgage Trust | ||
| Series 2017-5, Class D | ||
| 4.687%, due 3/10/50 (a)(i) | 1,790,000 | 1,490,569 |
| MFT Trust | ||
| Series 2020-ABC, Class B | ||
| 3.477%, due 2/10/42 (a)(i) | 1,875,000 | 1,500,587 |
| Morgan Stanley Bank of America Merrill Lynch Trust (a)(i) | ||
| Series 2015-C22, Class D | ||
| 3.973%, due 4/15/48 | 3,650,000 | 2,062,615 |
| Series 2015-C23, Class D | ||
| 4.209%, due 7/15/50 | 368,063 | 357,580 |
| Morgan Stanley Capital I Trust (a) | ||
| Series 2014-150E, Class A | ||
| 3.912%, due 9/9/32 | 1,300,000 | 1,220,440 |
| Series 2021-230P, Class A | ||
| 4.964% (1 Month SOFR + 1.284%), due 12/15/38 (b) | 1,760,000 | 1,709,400 |
| Natixis Commercial Mortgage Securities Trust | ||
| Series 2020-2PAC, Class AMZ1 | ||
| 3.50%, due 1/15/37 (a)(i) | 3,094,800 | 2,678,579 |
| NCMF Trust | ||
| Series 2025-MFS, Class E | ||
| 7.529%, due 6/10/33 (a)(i) | 4,165,000 | 4,231,603 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Commercial Mortgage Loans (Collateralized Mortgage Obligations) | ||
| ROCK Trust | ||
| Series 2024-CNTR, Class E | ||
| 8.819%, due 11/13/41 (a) | $ 3,340,000 | $ 3,550,689 |
| SCMS Mortgage Trust | ||
| Series 2025-BNC1, Class AS | ||
| 5.308%, due 12/15/57 (a)(j) | 2,796,000 | 2,822,754 |
| SKY Trust | ||
| Series 2025-LINE, Class D | ||
| 9.614% (1 Month SOFR + 5.934%), due 4/15/42 (a)(b) | 1,195,808 | 1,200,343 |
| SWCH Commercial Mortgage Trust | ||
| Series 2025-DATA, Class A | ||
| 5.123% (1 Month SOFR + 1.443%), due 2/15/42 (a)(b) | 1,930,000 | 1,916,128 |
| UBS Commercial Mortgage Trust | ||
| Series 2018-C10, Class D | ||
| 3.00%, due 5/15/51 (a) | 1,205,000 | 998,614 |
| Series 2019-C18, Class C | ||
| 3.92%, due 12/15/52 (i) | 1,621,000 | 1,388,883 |
| Series 2018-C9, Class C | ||
| 4.962%, due 3/15/51 (i) | 3,115,000 | 2,134,838 |
| WB Commercial Mortgage Trust | ||
| Series 2024-HQ, Class A | ||
| 6.134%, due 3/15/40 (a)(i) | 2,300,000 | 2,303,805 |
| Wells Fargo Commercial Mortgage Trust | ||
| Series 2017-C40, Class D | ||
| 2.70%, due 10/15/50 (a) | 2,525,000 | 2,163,511 |
| Series 2018-C43, Class D | ||
| 3.00%, due 3/15/51 (a) | 717,500 | 601,416 |
| Series 2018-C44, Class D | ||
| 3.00%, due 5/15/51 (a) | 3,471,000 | 2,527,846 |
| Series 2016-NXS6, Class D | ||
| 3.059%, due 11/15/49 (a) | 3,085,000 | 2,656,197 |
| Series 2017-C39, Class D | ||
| 4.357%, due 9/15/50 (a)(i) | 615,000 | 538,945 |
| Series 2016-NXS5, Class D | ||
| 4.875%, due 1/15/59 (i) | 3,055,000 | 2,326,260 |
| Series 2022-ONL, Class E | ||
| 4.928%, due 12/15/39 (a)(i) | 1,655,000 | 1,521,675 |
| WP Glimcher Mall Trust | ||
| Series 2015-WPG, Class C | ||
| 3.516%, due 6/5/35 (a)(i) | 1,940,000 | 1,648,981 |
| 193,571,733 | ||
| Whole Loan (Collateralized Mortgage Obligations) 10.8% | ||
| BRAVO Residential Funding Trust | ||
| Series 2024-NQM8, Class A1A | ||
| 4.30%, due 8/1/53 (a)(c) | 1,154,526 | 1,144,769 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Whole Loan (Collateralized Mortgage Obligations) | ||
| CIM Trust (a) | ||
| Series 2021-J2, Class AS | ||
| 0.21%, due 4/25/51 (h)(j) | $ 41,791,485 | $ 519,092 |
| Series 2025-NR1, Class A1 | ||
| 5.00%, due 6/25/64 (c) | 1,322,962 | 1,322,465 |
| Series 2019-INV1, Class B4 | ||
| 5.026%, due 2/25/49 (j) | 2,553,276 | 2,494,591 |
| Citigroup Mortgage Loan Trust (a)(j) | ||
| Series 2014-C, Class B3 | ||
| 4.25%, due 2/25/54 | 3,125,000 | 2,688,565 |
| Series 2025-4, Class A2 | ||
| 5.50%, due 10/25/55 | 1,723,666 | 1,734,372 |
| Connecticut Avenue Securities Trust (a)(b) | ||
| Series 2025-R01, Class 1M2 | ||
| 5.197% (SOFR 30A + 1.50%), due 1/25/45 | 4,500,000 | 4,501,389 |
| Series 2021-R03, Class 1M2 | ||
| 5.347% (SOFR 30A + 1.65%), due 12/25/41 | 5,130,000 | 5,161,952 |
| Series 2024-R05, Class 2M2 | ||
| 5.397% (SOFR 30A + 1.70%), due 7/25/44 | 2,750,000 | 2,760,532 |
| Series 2025-R01, Class 1B1 | ||
| 5.397% (SOFR 30A + 1.70%), due 1/25/45 | 1,120,000 | 1,116,509 |
| Series 2024-R03, Class 2M2 | ||
| 5.647% (SOFR 30A + 1.95%), due 3/25/44 | 1,865,000 | 1,884,780 |
| Series 2025-R02, Class 1B1 | ||
| 5.647% (SOFR 30A + 1.95%), due 2/25/45 | 1,460,000 | 1,471,969 |
| Series 2024-R05, Class 2B1 | ||
| 5.697% (SOFR 30A + 2.00%), due 7/25/44 | 2,100,000 | 2,101,321 |
| Series 2021-R03, Class 1B1 | ||
| 6.447% (SOFR 30A + 2.75%), due 12/25/41 | 870,000 | 883,050 |
| Series 2023-R05, Class 1M2 | ||
| 6.797% (SOFR 30A + 3.10%), due 6/25/43 | 2,500,000 | 2,598,321 |
| Series 2023-R07, Class 2M2 | ||
| 6.947% (SOFR 30A + 3.25%), due 9/25/43 | 2,780,000 | 2,876,376 |
| Series 2023-R03, Class 2M2 | ||
| 7.597% (SOFR 30A + 3.90%), due 4/25/43 | 6,161,732 | 6,496,122 |
| Series 2021-R03, Class 1B2 | ||
| 9.197% (SOFR 30A + 5.50%), due 12/25/41 | 1,900,000 | 1,962,485 |
| Series 2021-R01, Class 1B2 | ||
| 9.697% (SOFR 30A + 6.00%), due 10/25/41 | 1,691,214 | 1,744,200 |
| Series 2022-R01, Class 1B2 | ||
| 9.697% (SOFR 30A + 6.00%), due 12/25/41 | 3,848,000 | 3,993,008 |
| Series 2020-SBT1, Class 1B1 | ||
| 10.562% (SOFR 30A + 6.864%), due 2/25/40 | 5,260,000 | 5,521,369 |
| Series 2022-R02, Class 2B2 | ||
| 11.347% (SOFR 30A + 7.65%), due 1/25/42 | 3,210,000 | 3,393,683 |
| Series 2019-HRP1, Class B1 | ||
| 13.062% (SOFR 30A + 9.364%), due 11/25/39 | 4,424,318 | 4,670,813 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Whole Loan (Collateralized Mortgage Obligations) | ||
| FHLMC STACR REMIC Trust (a)(b) | ||
| Series 2025-DNA2, Class M1 | ||
| 4.897% (SOFR 30A + 1.20%), due 5/25/45 | $ 2,832,953 | $ 2,836,308 |
| Series 2025-DNA1, Class M2 | ||
| 5.047% (SOFR 30A + 1.35%), due 1/25/45 | 3,230,000 | 3,232,944 |
| Series 2025-HQA1, Class M2 | ||
| 5.347% (SOFR 30A + 1.65%), due 2/25/45 | 2,185,000 | 2,189,776 |
| Series 2023-DNA2, Class M1B | ||
| 6.947% (SOFR 30A + 3.25%), due 4/25/43 | 595,000 | 619,887 |
| Series 2021-DNA6, Class B1 | ||
| 7.097% (SOFR 30A + 3.40%), due 10/25/41 | 5,470,000 | 5,565,725 |
| Series 2020-HQA1, Class B2 | ||
| 8.912% (SOFR 30A + 5.214%), due 1/25/50 | 2,940,000 | 3,276,938 |
| Series 2022-HQA1, Class M2 | ||
| 8.947% (SOFR 30A + 5.25%), due 3/25/42 | 1,080,000 | 1,128,935 |
| Series 2021-DNA5, Class B2 | ||
| 9.197% (SOFR 30A + 5.50%), due 1/25/34 | 3,780,000 | 4,578,525 |
| Series 2021-HQA3, Class B2 | ||
| 9.947% (SOFR 30A + 6.25%), due 9/25/41 | 3,311,667 | 3,406,481 |
| Series 2021-HQA4, Class B2 | ||
| 10.697% (SOFR 30A + 7.00%), due 12/25/41 | 4,225,000 | 4,411,153 |
| Series 2022-HQA1, Class B1 | ||
| 10.697% (SOFR 30A + 7.00%), due 3/25/42 | 2,500,000 | 2,663,358 |
| Series 2022-DNA1, Class B2 | ||
| 10.797% (SOFR 30A + 7.10%), due 1/25/42 | 2,010,000 | 2,106,475 |
| Series 2022-DNA2, Class B2 | ||
| 12.197% (SOFR 30A + 8.50%), due 2/25/42 | 1,300,000 | 1,389,754 |
| FHLMC STACR Securitized Participation Interests Trust | ||
| REMIC, Series 2018-SPI3, Class B | ||
| 4.156%, due 8/25/48 (a)(j) | 4,797,512 | 3,744,747 |
| FHLMC STACR Trust (a)(b) | ||
| REMIC, Series 2019-FTR3, Class B2 | ||
| 8.612% (SOFR 30A + 4.914%), due 9/25/47 | 3,913,000 | 4,279,219 |
| REMIC, Series 2019-FTR1, Class B2 | ||
| 12.162% (SOFR 30A + 8.464%), due 1/25/48 | 1,790,000 | 2,142,597 |
| REMIC, Series 2019-HQA2, Class B2 | ||
| 15.062% (SOFR 30A + 11.364%), due 4/25/49 | 3,435,000 | 4,120,943 |
| J.P. Morgan Mortgage Trust (a) | ||
| Series 2021-11, Class AX1 | ||
| 0.219%, due 1/25/52 (h)(i) | 59,590,039 | 757,342 |
| Series 2022-1, Class B3 | ||
| 3.085%, due 7/25/52 (i) | 2,929,982 | 2,416,990 |
| Series 2025-NQM4, Class A1F | ||
| 4.897% (SOFR 30A + 1.20%), due 3/25/66 (b) | 965,411 | 967,316 |
| LOANDEPOT GMSR Master Trust | ||
| Series 2025-GT2, Class A | ||
| 6.823% (1 Month SOFR + 3.15%), due 7/16/30 (a)(b) | 3,280,000 | 3,305,548 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Whole Loan (Collateralized Mortgage Obligations) | ||
| MASTR Alternative Loan Trust | ||
| Series 2005-6, Class 1A2 | ||
| 5.50%, due 12/25/35 | $ 1,068,663 | $ 677,076 |
| Mill City Mortgage Loan Trust (a)(j) | ||
| Series 2018-4, Class B4 | ||
| 3.045%, due 4/25/66 | 1,732,975 | 1,034,207 |
| Series 2018-3, Class B2 | ||
| 3.25%, due 8/25/58 | 6,236,704 | 4,823,906 |
| Series 2018-3, Class B4 | ||
| 3.672%, due 8/25/58 | 1,112,628 | 712,455 |
| Morgan Stanley Residential Mortgage Loan Trust | ||
| Series 2025-SPL1, Class A1 | ||
| 4.25%, due 2/25/65 (a)(j) | 3,612,943 | 3,556,538 |
| New Residential Mortgage Loan Trust (a) | ||
| Series 2020-RPL1, Class B3 | ||
| 3.83%, due 11/25/59 (j) | 3,185,000 | 2,549,259 |
| Series 2024-RPL1, Class B1 | ||
| 3.873%, due 1/25/64 (i) | 2,800,000 | 2,377,053 |
| Series 2019-RPL3, Class B5 | ||
| 3.977%, due 7/25/59 (j) | 3,424,281 | 2,286,334 |
| OBX Trust (a) | ||
| Series 2025-R1, Class A1 | ||
| 4.94%, due 9/25/62 (c) | 2,503,121 | 2,512,418 |
| Series 2026-J1, Class AF | ||
| 5.039% (SOFR 30A + 1.35%), due 2/25/56 (b)(k) | 4,000,000 | 3,999,600 |
| Series 2024-NQM16, Class A1 | ||
| 5.53%, due 10/25/64 (c) | 1,665,668 | 1,682,339 |
| PMT Loan Trust | ||
| Series 2025-J4, Class A35 | ||
| 5.097% (SOFR 30A + 1.40%), due 12/1/56 (a)(b) | 3,122,233 | 3,147,055 |
| RCKT Mortgage Trust | ||
| Series 2021-5, Class A1 | ||
| 2.50%, due 11/25/51 (a)(j) | 7,005,550 | 5,880,283 |
| STACR Trust | ||
| Series 2018-HRP1, Class B2 | ||
| 15.562% (SOFR 30A + 11.864%), due 5/25/43 (a)(b) | 4,207,736 | 4,958,518 |
| Towd Point Mortgage Trust (a)(j) | ||
| Series 2018-2, Class B5 | ||
| (zero coupon), due 3/25/58 | 4,686,625 | 2,076,571 |
| Series 2017-4, Class B5 | ||
| 3.643%, due 6/25/57 | 1,413,798 | 1,000,970 |
| Series 2019-1, Class B2 | ||
| 3.779%, due 3/25/58 | 920,000 | 719,318 |
| Verus Securitization Trust (a) | ||
| Series 2026-R1, Class A1 | ||
| 4.832%, due 10/25/67 (j) | 3,045,000 | 3,045,980 |
| Series 2025-R2, Class A1 | ||
| 5.086%, due 7/25/67 (j) | 3,140,629 | 3,164,518 |
| Principal Amount | Value | |
| Mortgage-Backed Securities | ||
| Whole Loan (Collateralized Mortgage Obligations) | ||
| Verus Securitization Trust (a) | ||
| Series 2023-INV2, Class B2 | ||
| 8.011%, due 8/25/68 (i) | $ 1,000,000 | $ 1,001,482 |
| 173,388,574 | ||
| Total Mortgage-Backed Securities (Cost $425,688,829) | 429,034,443 | |
| U.S. Government & Federal Agencies 19.2% | ||
| Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.7% | ||
| UMBS Pool, 30 Year | ||
| 5.00%, due 7/1/40 | 7,646,272 | 7,735,388 |
| 5.00%, due 12/1/55 | 2,706,210 | 2,719,595 |
| 10,454,983 | ||
| Federal National Mortgage Association (Mortgage Pass-Through Securities) 1.4% | ||
| UMBS, 30 Year | ||
| 5.00%, due 9/1/53 | 8,587,594 | 8,610,626 |
| 5.00%, due 12/1/54 | 5,769,552 | 5,771,562 |
| 5.50%, due 5/1/54 | 3,381,060 | 3,430,458 |
| 5.50%, due 2/1/55 | 5,288,271 | 5,364,118 |
| 23,176,764 | ||
| United States Treasury Bonds 1.5% | ||
| U.S. Treasury Bonds | ||
| 4.625%, due 11/15/45 | 20,350,000 | 19,793,555 |
| 4.625%, due 11/15/55 | 4,870,000 | 4,667,590 |
| 24,461,145 | ||
| United States Treasury Notes 15.6% | ||
| U.S. Treasury Notes | ||
| 3.50%, due 1/31/28 | 2,835,000 | 2,833,117 |
| 3.50%, due 1/15/29 | 54,590,000 | 54,432,201 |
| 3.75%, due 1/31/31 | 7,955,000 | 7,935,113 |
| 4.00%, due 1/31/33 | 97,275,000 | 97,107,808 |
| 4.00%, due 11/15/35 | 67,780,000 | 66,392,628 |
| 4.25%, due 12/31/26 | 20,265,000 | 20,387,065 |
| 249,087,932 | ||
| Total U.S. Government & Federal Agencies (Cost $308,281,552) | 307,180,824 | |
| Total Long-Term Bonds (Cost $1,542,813,238) | 1,548,239,533 | |
| Shares | Value | ||
| Common Stocks 0.1% | |||
| Commercial Services & Supplies 0.0% ‡ | |||
| Quad/Graphics, Inc. | 14 | $ 86 | |
| Tobacco 0.1% | |||
| Turning Point Brands, Inc. | 6,802 | 824,062 | |
| Total Common Stocks (Cost $0) | 824,148 | ||
| Short-Term Investments 2.6% | |||
| Affiliated Investment Company 0.4% | |||
| NYLI U.S. Government Liquidity Fund, 3.523% (l) | 5,286,228 | 5,286,228 | |
| Unaffiliated Investment Companies 0.8% | |||
| Dreyfus Treasury Obligations Cash Management Fund, 3.70% (l)(m) | 4,000,000 | 4,000,000 | |
| Invesco Government & Agency Portfolio, 3.682% (l)(m) | 7,280,102 | 7,280,102 | |
| Morgan Stanley Institutional Liquidity Fund Government Portfolio, 3.70% (l)(m) | 2,000,000 | 2,000,000 | |
| 13,280,102 | |||
| Principal Amount | |||
| U.S. Treasury Debt 1.4% | |||
| U.S. Treasury Bills (n) | |||
| 3.615%, due 3/26/26 | $ 2,800,000 | 2,785,332 | |
| 3.618%, due 2/26/26 | 2,800,000 | 2,793,246 | |
| 3.627%, due 2/17/26 | 550,000 | 549,171 | |
| 3.745%, due 4/16/26 | 3,980,000 | 3,951,019 | |
| 3.751%, due 4/30/26 | 12,500,000 | 12,391,849 | |
| 22,470,617 | |||
| Total Short-Term Investments (Cost $41,030,716) | 41,036,947 | ||
| Total Investments (Cost $1,583,843,954) | 99.3% | 1,590,100,628 | |
| Other Assets, Less Liabilities | 0.7 | 11,865,483 | |
| Net Assets | 100.0% | $ 1,601,966,111 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Floating rate—Rate shown was the rate in effect as of January 31, 2026. |
| (c) | Step coupon—Rate shown was the rate in effect as of January 31, 2026. |
| (d) | All or a portion of this security was held on loan. As of January 31, 2026, the aggregate market value of securities on loan was $14,575,741; the total market value of collateral held by the Fund was $15,232,837. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,952,735. The Fund received cash collateral with a value of $13,280,102. |
| (e) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (f) | Fixed to floating rate—Rate shown was the rate in effect as of January 31, 2026. |
| (g) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (h) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
| (i) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of January 31, 2026. |
| (j) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of January 31, 2026. |
| (k) | Delayed delivery security. |
| (l) | Current yield as of January 31, 2026. |
| (m) | Represents a security purchased with cash collateral received for securities on loan. |
| (n) | Interest rate shown represents yield to maturity. |
| Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
| NYLI U.S. Government Liquidity Fund | $ 12,650 | $ 180,441 | $ (187,805) | $ — | $ — | $ 5,286 | $ 173 | $ — | 5,286 |
| Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
| Long Contracts | |||||
| U.S. Treasury 10 Year Ultra Bonds | 2,668 | March 2026 | $ 304,199,877 | $ 304,568,875 | $ 368,998 |
| Short Contracts | |||||
| Euro-BTP | (2,149) | March 2026 | (307,273,545) | (308,505,580) | (1,232,035) |
| Net Unrealized Depreciation | $ (863,037) |
| 1. | As of January 31, 2026, cash in the amount of $17,131,857 was on deposit with a broker or futures commission merchant for futures transactions. |
| 2. | Represents the difference between the value of the contracts at the time they were opened and the value as of January 31, 2026. |
| Abbreviation(s): |
| BRL—Brazil Real |
| BTP—Buoni del Tesoro Poliennali (Eurex Exchange index) |
| CLO—Collateralized Loan Obligation |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GMSR—Ginnie Mae Mortgage Servicing Rights |
| GNMA—Government National Mortgage Association |
| MSCR—Multifamily Structured Credit Risk |
| REMIC—Real Estate Mortgage Investment Conduit |
| SARL—Société À Responsabilité Limitée |
| SOFR—Secured Overnight Financing Rate |
| STACR—Structured Agency Credit Risk |
| TRY—Turkish lira |
| UMBS—Uniform Mortgage Backed Securities |
| USISDA—U.S. International Swaps and Derivatives Association |
| ZAR—South African Rand |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Long-Term Bonds | |||||||
| Asset-Backed Securities | $ — | $ 237,499,084 | $ — | $ 237,499,084 | |||
| Corporate Bonds | — | 454,166,782 | — | 454,166,782 | |||
| Foreign Government Bonds | — | 90,133,937 | — | 90,133,937 | |||
| Loan Assignments | — | 30,224,463 | — | 30,224,463 | |||
| Mortgage-Backed Securities | — | 429,034,443 | — | 429,034,443 | |||
| U.S. Government & Federal Agencies | — | 307,180,824 | — | 307,180,824 | |||
| Total Long-Term Bonds | — | 1,548,239,533 | — | 1,548,239,533 | |||
| Common Stocks | 824,148 | — | — | 824,148 | |||
| Short-Term Investments | |||||||
| Affiliated Investment Company | 5,286,228 | — | — | 5,286,228 | |||
| Unaffiliated Investment Companies | 13,280,102 | — | — | 13,280,102 | |||
| U.S. Treasury Debt | — | 22,470,617 | — | 22,470,617 | |||
| Total Short-Term Investments | 18,566,330 | 22,470,617 | — | 41,036,947 | |||
| Total Investments in Securities | 19,390,478 | 1,570,710,150 | — | 1,590,100,628 | |||
| Other Financial Instruments | |||||||
| Futures Contracts (b) | 368,998 | — | — | 368,998 | |||
| Total Investments in Securities and Other Financial Instruments | $ 19,759,476 | $ 1,570,710,150 | $ — | $ 1,590,469,626 | |||
| Liability Valuation Inputs | |||||||
| Other Financial Instruments | |||||||
| Futures Contracts (b) | $ (1,232,035) | $ — | $ — | $ (1,232,035) |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| (b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
| Shares | Value | |
| Common Stocks 98.5% | ||
| Aerospace & Defense 1.6% | ||
| L3Harris Technologies, Inc. | 44,285 | $ 15,183,112 |
| Automobile Components 1.1% | ||
| Gentex Corp. | 474,001 | 10,906,763 |
| Banks 8.6% | ||
| Huntington Bancshares, Inc. | 761,784 | 13,315,984 |
| JPMorgan Chase & Co. | 117,869 | 36,054,949 |
| M&T Bank Corp. | 76,114 | 16,864,579 |
| PNC Financial Services Group, Inc. (The) | 72,120 | 16,104,396 |
| 82,339,908 | ||
| Beverages 1.3% | ||
| Keurig Dr Pepper, Inc. | 470,818 | 12,919,246 |
| Biotechnology 1.9% | ||
| Gilead Sciences, Inc. | 125,834 | 17,862,136 |
| Building Products 1.4% | ||
| Johnson Controls International plc | 114,638 | 13,671,728 |
| Capital Markets 8.1% | ||
| Ares Management Corp. | 66,196 | 9,907,555 |
| KKR & Co., Inc. | 103,343 | 11,807,971 |
| LPL Financial Holdings, Inc. | 39,299 | 14,324,485 |
| Morgan Stanley | 87,676 | 16,027,173 |
| Nasdaq, Inc. | 119,677 | 11,595,505 |
| Raymond James Financial, Inc. | 83,110 | 13,784,625 |
| 77,447,314 | ||
| Communications Equipment 3.5% | ||
| Cisco Systems, Inc. | 251,934 | 19,731,471 |
| F5, Inc. (a) | 50,205 | 13,837,000 |
| 33,568,471 | ||
| Consumer Staples Distribution & Retail 1.5% | ||
| U.S. Foods Holding Corp. (a) | 171,793 | 14,365,331 |
| Diversified Consumer Services 1.0% | ||
| H&R Block, Inc. | 235,263 | 9,281,125 |
| Electric Utilities 1.4% | ||
| American Electric Power Co., Inc. | 112,930 | 13,526,191 |
| Electrical Equipment 1.5% | ||
| Emerson Electric Co. | 97,635 | 14,348,440 |
| Shares | Value | |
| Common Stocks | ||
| Food Products 1.5% | ||
| Archer-Daniels-Midland Co. | 217,714 | $ 14,654,329 |
| Gas Utilities 1.4% | ||
| Atmos Energy Corp. | 79,684 | 13,254,636 |
| Health Care Providers & Services 3.7% | ||
| Elevance Health, Inc. | 50,427 | 17,434,631 |
| UnitedHealth Group, Inc. | 62,270 | 17,867,131 |
| 35,301,762 | ||
| Industrial Conglomerates 1.2% | ||
| 3M Co. | 75,854 | 11,617,799 |
| Insurance 7.7% | ||
| American International Group, Inc. | 191,340 | 14,327,539 |
| Chubb Ltd. | 48,226 | 14,928,840 |
| Marsh & McLennan Cos., Inc. | 77,156 | 14,519,988 |
| MetLife, Inc. | 189,551 | 14,951,783 |
| Progressive Corp. (The) | 70,566 | 14,677,728 |
| 73,405,878 | ||
| Interactive Media & Services 5.0% | ||
| Alphabet, Inc., Class C | 142,394 | 48,204,641 |
| IT Services 3.5% | ||
| Accenture plc, Class A | 65,454 | 17,256,293 |
| Amdocs Ltd. | 193,356 | 15,843,590 |
| 33,099,883 | ||
| Machinery 2.7% | ||
| Middleby Corp. (The) (a) | 76,200 | 11,214,354 |
| PACCAR, Inc. | 116,960 | 14,375,553 |
| 25,589,907 | ||
| Metals & Mining 1.2% | ||
| Freeport-McMoRan, Inc. | 186,222 | 11,216,151 |
| Multi-Utilities 1.7% | ||
| Sempra | 182,364 | 15,867,492 |
| Oil, Gas & Consumable Fuels 6.7% | ||
| Antero Resources Corp. (a) | 404,904 | 14,726,358 |
| ConocoPhillips | 131,321 | 13,687,588 |
| Coterra Energy, Inc. | 364,063 | 10,503,217 |
| Marathon Petroleum Corp. | 64,099 | 11,293,603 |
| Shares | Value | |
| Common Stocks | ||
| Oil, Gas & Consumable Fuels | ||
| Targa Resources Corp. | 70,416 | $ 14,152,208 |
| 64,362,974 | ||
| Personal Care Products 1.4% | ||
| Unilever plc, Sponsored ADR | 196,027 | 13,400,406 |
| Pharmaceuticals 12.0% | ||
| AstraZeneca plc, Sponsored ADR | 104,582 | 9,702,072 |
| Eli Lilly & Co. | 8,408 | 8,720,357 |
| Johnson & Johnson | 133,979 | 30,446,728 |
| Merck & Co., Inc. | 224,063 | 24,707,427 |
| Pfizer, Inc. | 657,742 | 17,390,699 |
| Roche Holding AG | 25,962 | 11,777,858 |
| Zoetis, Inc. | 97,915 | 12,221,750 |
| 114,966,891 | ||
| Semiconductors & Semiconductor Equipment 3.7% | ||
| Broadcom, Inc. | 36,040 | 11,940,052 |
| NVIDIA Corp. | 50,688 | 9,687,997 |
| NXP Semiconductors NV | 59,013 | 13,345,200 |
| 34,973,249 | ||
| Software 1.2% | ||
| Microsoft Corp. | 26,421 | 11,368,692 |
| Specialized REITs 2.7% | ||
| Crown Castle, Inc. | 156,421 | 13,578,907 |
| Gaming and Leisure Properties, Inc. | 268,229 | 12,003,248 |
| 25,582,155 | ||
| Specialty Retail 2.9% | ||
| Dick's Sporting Goods, Inc. | 65,126 | 13,155,452 |
| GCI Liberty, Inc. (a)(b) | 15,319 | — |
| Industria de Diseno Textil SA, ADR | 888,246 | 14,425,115 |
| 27,580,567 | ||
| Technology Hardware, Storage & Peripherals 1.2% | ||
| NetApp, Inc. | 121,811 | 11,736,490 |
| Trading Companies & Distributors 1.5% | ||
| Ferguson Enterprises, Inc. | 55,619 | 14,041,573 |
| Water Utilities 1.1% | ||
| American Water Works Co., Inc. | 78,461 | 10,131,669 |
| Shares | Value | ||
| Common Stocks | |||
| Wireless Telecommunication Services 1.6% | |||
| T-Mobile US, Inc. | 77,301 | $ 15,244,530 | |
| Total Common Stocks (Cost $717,508,634) | 941,021,439 | ||
| Short-Term Investment 1.5% | |||
| Affiliated Investment Company 1.5% | |||
| NYLI U.S. Government Liquidity Fund, 3.523% (c) | 14,388,756 | 14,388,756 | |
| Total Short-Term Investment (Cost $14,388,756) | 14,388,756 | ||
| Total Investments (Cost $731,897,390) | 100.0% | 955,410,195 | |
| Other Assets, Less Liabilities | 0.0‡ | 127,163 | |
| Net Assets | 100.0% | $ 955,537,358 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |
| (b) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (c) | Current yield as of January 31, 2026. |
| Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
| NYLI U.S. Government Liquidity Fund | $ 11,372 | $ 40,809 | $ (37,792) | $ — | $ — | $ 14,389 | $ 85 | $ — | 14,389 |
| Abbreviation(s): |
| ADR—American Depositary Receipt |
| REIT—Real Estate Investment Trust |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Common Stocks | $ 941,021,439 | $ — | $ — | $ 941,021,439 | |||
| Short-Term Investment | |||||||
| Affiliated Investment Company | 14,388,756 | — | — | 14,388,756 | |||
| Total Investments in Securities | $ 955,410,195 | $ — | $ — | $ 955,410,195 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| Shares | Value | |
| Common Stocks 98.3% | ||
| Aerospace & Defense 3.2% | ||
| Axon Enterprise, Inc. (a) | 212,280 | $ 102,654,362 |
| GE Aerospace | 509,671 | 156,361,966 |
| Howmet Aerospace, Inc. | 709,212 | 147,572,833 |
| 406,589,161 | ||
| Automobiles 2.3% | ||
| Tesla, Inc. (a) | 671,895 | 289,190,327 |
| Biotechnology 1.5% | ||
| Vertex Pharmaceuticals, Inc. (a) | 395,100 | 185,657,490 |
| Broadline Retail 7.1% | ||
| Amazon.com, Inc. (a) | 3,761,763 | 900,189,886 |
| Capital Markets 2.3% | ||
| Ares Management Corp. | 817,400 | 122,340,258 |
| KKR & Co., Inc. | 665,100 | 75,994,326 |
| Nasdaq, Inc. | 886,500 | 85,892,985 |
| 284,227,569 | ||
| Chemicals 1.1% | ||
| Ecolab, Inc. | 500,050 | 141,009,100 |
| Commercial Services & Supplies 1.2% | ||
| Cintas Corp. | 818,800 | 156,710,132 |
| Communications Equipment 1.7% | ||
| Arista Networks, Inc. (a) | 1,510,580 | 214,109,609 |
| Construction & Engineering 1.3% | ||
| Quanta Services, Inc. | 343,800 | 163,177,794 |
| Electrical Equipment 1.7% | ||
| GE Vernova, Inc. | 303,600 | 220,525,932 |
| Electronic Equipment, Instruments & Components 2.0% | ||
| Amphenol Corp., Class A | 1,784,670 | 257,135,254 |
| Entertainment 3.5% | ||
| Netflix, Inc. (a) | 3,090,200 | 258,000,798 |
| Spotify Technology SA (a) | 355,421 | 177,834,897 |
| 435,835,695 | ||
| Financial Services 4.1% | ||
| Mastercard, Inc., Class A | 346,888 | 186,899,786 |
| Shares | Value | |
| Common Stocks | ||
| Financial Services | ||
| Visa, Inc., Class A | 1,013,180 | $ 326,071,719 |
| 512,971,505 | ||
| Health Care Equipment & Supplies 4.1% | ||
| Intuitive Surgical, Inc. (a) | 548,883 | 276,757,786 |
| Stryker Corp. | 647,128 | 239,152,624 |
| 515,910,410 | ||
| Health Care Providers & Services 1.1% | ||
| McKesson Corp. | 171,500 | 142,552,515 |
| Hotels, Restaurants & Leisure 4.3% | ||
| Chipotle Mexican Grill, Inc. (a) | 1,964,200 | 76,348,454 |
| DoorDash, Inc., Class A (a) | 1,098,150 | 224,703,453 |
| Hilton Worldwide Holdings, Inc. | 816,597 | 243,762,370 |
| 544,814,277 | ||
| Interactive Media & Services 11.7% | ||
| Alphabet, Inc., Class C | 2,588,330 | 876,227,355 |
| Meta Platforms, Inc., Class A | 835,434 | 598,588,461 |
| 1,474,815,816 | ||
| IT Services 3.3% | ||
| Shopify, Inc., Class A (a) | 1,328,436 | 174,330,656 |
| Snowflake, Inc., Class A (a) | 1,259,160 | 242,640,132 |
| 416,970,788 | ||
| Machinery 1.2% | ||
| Parker-Hannifin Corp. | 166,700 | 156,004,528 |
| Pharmaceuticals 2.7% | ||
| Eli Lilly & Co. | 329,521 | 341,762,705 |
| Semiconductors & Semiconductor Equipment 17.2% | ||
| Advanced Micro Devices, Inc. (a) | 314,610 | 74,477,626 |
| ASML Holding NV (Registered) | 60,000 | 85,380,000 |
| Broadcom, Inc. | 2,073,920 | 687,089,696 |
| KLA Corp. | 82,500 | 117,805,050 |
| NVIDIA Corp. | 6,198,879 | 1,184,791,744 |
| Texas Instruments, Inc. | 117,700 | 25,370,235 |
| 2,174,914,351 | ||
| Software 13.7% | ||
| Atlassian Corp., Class A (a) | 681,700 | 80,563,306 |
| Cadence Design Systems, Inc. (a) | 403,800 | 119,670,168 |
| Intuit, Inc. | 309,810 | 154,570,405 |
| Microsoft Corp. | 2,521,657 | 1,085,043,791 |
| OpenAI (a)(b)(c) | 29,095 | 12,510,850 |
| Shares | Value | ||
| Common Stocks | |||
| Software | |||
| Oracle Corp. | 419,932 | $ 69,112,409 | |
| Palantir Technologies, Inc., Class A (a) | 491,700 | 72,078,303 | |
| ServiceNow, Inc. (a) | 1,210,625 | 141,655,231 | |
| 1,735,204,463 | |||
| Technology Hardware, Storage & Peripherals 6.0% | |||
| Apple, Inc. | 2,908,284 | 754,641,532 | |
| Total Common Stocks (Cost $7,097,292,534) | 12,424,920,839 | ||
| Preferred Stocks 0.9% | |||
| Software 0.9% | |||
| Anthropic PBC (a)(b)(c) | |||
| Series F-1 | 147,622 | 38,254,233 | |
| Series G-1 | 139,193 | 36,069,973 | |
| Databricks, Inc. Series L (a)(b)(c) | 217,517 | 41,349,982 | |
| Total Preferred Stocks (Cost $98,208,122) | 115,674,188 | ||
| Short-Term Investment 0.6% | |||
| Affiliated Investment Company 0.6% | |||
| NYLI U.S. Government Liquidity Fund, 3.523% (d)(e) | 77,971,066 | 77,971,066 | |
| Total Short-Term Investment (Cost $77,971,066) | 77,971,066 | ||
| Total Investments (Cost $7,273,471,722) | 99.8% | 12,618,566,093 | |
| Other Assets, Less Liabilities | 0.2 | 19,471,425 | |
| Net Assets | 100.0% | $ 12,638,037,518 | |
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (c) | Restricted security. |
| (d) | As of January 31, 2026, the Fund's ownership exceeds 5% of the outstanding shares of the Underlying Fund's share class. |
| (e) | Current yield as of January 31, 2026. |
| Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
| NYLI U.S. Government Liquidity Fund | $ 89,496 | $ 1,051,069 | $ (1,062,594) | $ — | $ — | $ 77,971 | $ 1,054 | $ — | 77,971 |
| Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||
| Asset Valuation Inputs | |||||||
| Investments in Securities (a) | |||||||
| Common Stocks | $ 12,412,409,989 | $ — | $ 12,510,850 | $ 12,424,920,839 | |||
| Preferred Stocks | — | — | 115,674,188 | 115,674,188 | |||
| Short-Term Investment | |||||||
| Affiliated Investment Company | 77,971,066 | — | — | 77,971,066 | |||
| Total Investments in Securities | $ 12,490,381,055 | $ — | $ 128,185,038 | $ 12,618,566,093 |
| (a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
| • | Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability |
| • | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
| • | Level 3—significant unobservable inputs (including each Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
| • Benchmark yields | • Reported trades |
| • Broker/dealer quotes | • Issuer spreads |
| • Two-sided markets | • Benchmark securities |
| • Bids/offers | • Reference data (corporate actions or material event notices) |
| • Industry and economic events | • Comparable bonds |
| • Monthly payment information |