Lord Abbett
Quarterly Portfolio Holdings Report
Lord Abbett
Emerging Markets Equity Fund
International Growth Fund
Investment Grade Floating Rate Fund
Short Duration High Yield Fund
For the period ended April 30, 2026
Lord Abbett
Quarterly Portfolio Holdings Report
Lord Abbett
Emerging Markets Equity Fund
International Growth Fund
Investment Grade Floating Rate Fund
Short Duration High Yield Fund
For the period ended April 30, 2026
Schedule of Investments (unaudited)
EMERGING MARKETS EQUITY FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| LONG-TERM INVESTMENTS 98.85% | ||||||||
| COMMON STOCKS 96.48% | ||||||||
| Australia 0.63% | ||||||||
| Metals & Mining | ||||||||
| Anglogold Ashanti PLC | 1,027 | $ | 96,261 | |||||
| Austria 0.66% | ||||||||
| Banks | ||||||||
| Erste Group Bank AG | 918 | 101,435 | ||||||
| Brazil 4.43% | ||||||||
| Aerospace & Defense 0.64% | ||||||||
| Embraer SA | 6,261 | 97,408 | ||||||
| Banks 0.44% | ||||||||
| NU Holdings Ltd. Class A* | 4,670 | 67,622 | ||||||
| Broadline Retail 0.48% | ||||||||
| MercadoLibre, Inc.* | 41 | 73,498 | ||||||
| Capital Markets 0.88% | ||||||||
| B3 SA – Brasil Bolsa Balcao | 36,694 | 133,607 | ||||||
| Metals & Mining 1.15% | ||||||||
| Vale SA | 10,751 | 176,252 | ||||||
| Water Utilities 0.84% | ||||||||
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 19,075 | 127,698 | ||||||
| Total Brazil | 676,085 | |||||||
| China 16.50% | ||||||||
| Automobiles 0.63% | ||||||||
| BYD Co. Ltd. Class H | 7,219 | 96,028 | ||||||
| Banks 2.62% | ||||||||
| China Construction Bank Corp. Class H | 204,005 | 230,281 | ||||||
| Industrial & Commercial Bank of China Ltd. Class H | 187,531 | 168,956 | ||||||
| 399,237 | ||||||||
| Broadline Retail 2.83% | ||||||||
| Alibaba Group Holding Ltd. | 23,533 | 387,847 | ||||||
| PDD Holdings, Inc. ADR* | 436 | 43,548 | ||||||
| 431,395 | ||||||||
| Investments | Shares | U.S. $ Fair Value | ||||||
| China (continued) | ||||||||
| Electrical Equipment 1.43% | ||||||||
| Contemporary Amperex Technology Co. Ltd. Class A | 2,186 | $ | 140,322 | |||||
| NARI Technology Co. Ltd. Class A | 20,389 | 77,708 | ||||||
| 218,030 | ||||||||
| Entertainment 0.50% | ||||||||
| NetEase, Inc. | 3,250 | 76,080 | ||||||
| Hotels, Restaurants & Leisure 1.46% | ||||||||
| Trip.com Group Ltd.* | 737 | 39,797 | ||||||
| Yum China Holdings, Inc. | 3,753 | 183,647 | ||||||
| 223,444 | ||||||||
| Insurance 1.22% | ||||||||
| PICC Property & Casualty Co. Ltd. Class H | 21,737 | 39,265 | ||||||
| Ping An Insurance Group Co. of China Ltd. Class H | 18,049 | 146,704 | ||||||
| 185,969 | ||||||||
| Interactive Media & Services 3.86% | ||||||||
| Bilibili, Inc. Class Z* | 3,223 | 70,822 | ||||||
| Tencent Holdings Ltd. | 8,527 | 517,864 | ||||||
| 588,686 | ||||||||
| Marine Transportation 0.52% | ||||||||
| SITC International Holdings Co. Ltd. | 19,098 | 79,963 | ||||||
| Pharmaceuticals 0.46% | ||||||||
| Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A | 8,930 | 70,730 | ||||||
| Real Estate Management & Development 0.51% | ||||||||
| China Resources Land Ltd. | 18,526 | 77,838 | ||||||
| Textiles, Apparel & Luxury Goods 0.46% | ||||||||
| ANTA Sports Products Ltd. | 6,623 | 69,383 | ||||||
| Total China | 2,516,783 | |||||||
| See Notes to Schedule of Investments. | 1 |
Schedule of Investments (unaudited)(continued)
EMERGING MARKETS EQUITY FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| Germany 0.34% | ||||||||
| Semiconductors & Semiconductor Equipment | ||||||||
| AIXTRON SE | 945 | $ | 52,215 | |||||
| Greece 0.64% | ||||||||
| Banks | ||||||||
| Alpha Bank SA | 24,201 | 97,124 | ||||||
| Hong Kong 2.30% | ||||||||
| Capital Markets 0.75% | ||||||||
| Hong Kong Exchanges & Clearing Ltd. | 2,138 | 113,876 | ||||||
| Insurance 1.10% | ||||||||
| AIA Group Ltd. | 6,900 | 75,753 | ||||||
| Prudential PLC | 6,139 | 92,512 | ||||||
| 168,265 | ||||||||
| Machinery 0.45% | ||||||||
| Techtronic Industries Co. Ltd. | 4,729 | 68,569 | ||||||
| Total Hong Kong | 350,710 | |||||||
| Hungary 1.96% | ||||||||
| Banks | ||||||||
| OTP Bank Nyrt | 2,229 | 298,973 | ||||||
| India 7.90% | ||||||||
| Automobiles 0.35% | ||||||||
| Maruti Suzuki India Ltd. | 377 | 53,187 | ||||||
| Banks 1.74% | ||||||||
| ICICI Bank Ltd. ADR | 9,996 | 265,794 | ||||||
| Beverages 0.75% | ||||||||
| United Spirits Ltd. | 4,579 | 64,149 | ||||||
| Varun Beverages Ltd. | 9,361 | 50,989 | ||||||
| 115,138 | ||||||||
| Consumer Finance 0.60% | ||||||||
| Shriram Finance Ltd. | 9,192 | 91,420 | ||||||
| Health Care Providers & Services 0.33% | ||||||||
| Max Healthcare Institute Ltd. | 4,767 | 50,156 | ||||||
| Hotels, Restaurants & Leisure 0.26% | ||||||||
| Indian Hotels Co. Ltd. | 6,002 | 40,416 | ||||||
| Investments | Shares | U.S. $ Fair Value | ||||||
| India (continued) | ||||||||
| Oil, Gas & Consumable Fuels 0.51% | ||||||||
| Reliance Industries Ltd. | 5,088 | $ | 77,167 | |||||
| Pharmaceuticals 0.47% | ||||||||
| Torrent Pharmaceuticals Ltd. | 1,614 | 71,167 | ||||||
| Transportation Infrastructure 1.03% | ||||||||
| Adani Ports & Special Economic Zone Ltd. | 6,687 | 117,496 | ||||||
| GMR Airports Ltd.* | 38,621 | 39,467 | ||||||
| 156,963 | ||||||||
| Wireless Telecommunication Services 1.86% | ||||||||
| Bharti Airtel Ltd. | 14,199 | 283,837 | ||||||
| Total India | 1,205,245 | |||||||
| Japan 0.70% | ||||||||
| Semiconductors & Semiconductor Equipment | ||||||||
| Kioxia Holdings Corp.* | 439 | 106,220 | ||||||
| Macau 0.38% | ||||||||
| Hotels, Restaurants & Leisure | ||||||||
| Galaxy Entertainment Group Ltd. | 13,500 | 57,596 | ||||||
| Mexico 3.26% | ||||||||
| Banks 1.13% | ||||||||
| Grupo Financiero Banorte SAB de CV Class O | 15,908 | 172,735 | ||||||
| Beverages 0.61% | ||||||||
| Fomento Economico Mexicano SAB de CV ADR | 782 | 92,464 | ||||||
| Construction Materials 0.76% | ||||||||
| Cemex SAB de CV ADR | 9,452 | 116,260 | ||||||
| Metals & Mining 0.76% | ||||||||
| Grupo Mexico SAB de CV | 10,619 | 116,229 | ||||||
| Total Mexico | 497,688 | |||||||
| Peru 1.03% | ||||||||
| Banks | ||||||||
| Credicorp Ltd. | 486 | 157,547 | ||||||
| 2 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
EMERGING MARKETS EQUITY FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| Philippines 0.64% | ||||||||
| Transportation Infrastructure | ||||||||
| International Container Terminal Services, Inc. | 8,421 | $ | 97,258 | |||||
| Saudi Arabia 0.92% | ||||||||
| Banks | ||||||||
| Saudi National Bank | 13,456 | 140,928 | ||||||
| Singapore 0.19% | ||||||||
| Broadline Retail | ||||||||
| Sea Ltd. ADR* | 345 | 29,284 | ||||||
| South Africa 2.26% | ||||||||
| Banks 1.11% | ||||||||
| Capitec Bank Holdings Ltd. | 650 | 168,774 | ||||||
| Broadline Retail 0.45% | ||||||||
| Naspers Ltd. Class N | 1,284 | 69,528 | ||||||
| Metals & Mining 0.70% | ||||||||
| Gold Fields Ltd. ADR | 2,522 | 107,135 | ||||||
| Total South Africa | 345,437 | |||||||
| South Korea 21.65% | ||||||||
| Aerospace & Defense 2.19% | ||||||||
| Hanwha Aerospace Co. Ltd. | 218 | 208,270 | ||||||
| LIG Defense&Aerospace Co. Ltd. | 199 | 126,253 | ||||||
| 334,523 | ||||||||
| Automobiles 0.61% | ||||||||
| Kia Corp. | 906 | 93,447 | ||||||
| Banks 1.62% | ||||||||
| KB Financial Group, Inc. | 1,440 | 157,687 | ||||||
| Shinhan Financial Group Co. Ltd. | 1,315 | 89,300 | ||||||
| 246,987 | ||||||||
| Electrical Equipment 3.00% | ||||||||
| HD Hyundai Electric Co. Ltd. | 370 | 318,170 | ||||||
| LS Electric Co. Ltd. | 725 | 139,233 | ||||||
| 457,403 | ||||||||
| Industrial Conglomerates 0.99% | ||||||||
| SK Square Co. Ltd.* | 260 | 151,320 | ||||||
| Investments | Shares | U.S. $ Fair Value | ||||||
| South Korea (continued) | ||||||||
| Life Sciences Tools & Services 0.54% | ||||||||
| Samsung Biologics Co. Ltd.†* | 82 | $ | 81,757 | |||||
| Machinery 0.56% | ||||||||
| HD Hyundai Heavy Industries Co. Ltd. | 184 | 85,688 | ||||||
| Semiconductors & Semiconductor Equipment 4.68% | ||||||||
| SK Hynix, Inc. | 800 | 713,415 | ||||||
| Technology Hardware, Storage & Peripherals 6.42% | ||||||||
| Samsung Electronics Co. Ltd. | 6,500 | $ | 978,819 | |||||
| Tobacco 1.04% | ||||||||
| KT&G Corp. | 1,324 | 159,162 | ||||||
| Total South Korea | 3,302,521 | |||||||
| Taiwan 27.60% | ||||||||
| Communications Equipment 1.25% | ||||||||
| Accton Technology Corp. | 2,601 | 190,488 | ||||||
| Electronic Equipment, Instruments & Components 5.81% | ||||||||
| Chroma ATE, Inc. | 1,713 | 117,050 | ||||||
| Delta Electronics, Inc. | 5,320 | 373,068 | ||||||
| Elite Material Co. Ltd. | 1,361 | 202,795 | ||||||
| Unimicron Technology Corp. | 6,823 | 193,796 | ||||||
| 886,709 | ||||||||
| Semiconductors & Semiconductor Equipment 19.35% | ||||||||
| ASE Technology Holding Co. Ltd. | 12,223 | 191,591 | ||||||
| ASPEED Technology, Inc. | 326 | 175,248 | ||||||
| Hon Precision, Inc. | 440 | 69,053 | ||||||
| MediaTek, Inc. | 1,000 | 83,482 | ||||||
| MPI Corp. | 508 | 81,566 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 32,417 | 2,250,448 | ||||||
| Visual Photonics Epitaxy Co. Ltd. | 9,088 | 101,246 | ||||||
| 2,952,634 | ||||||||
| Technology Hardware, Storage & Peripherals 1.19% | ||||||||
| Asia Vital Components Co. Ltd. | 1,982 | 181,459 | ||||||
| Total Taiwan | 4,211,290 | |||||||
| See Notes to Schedule of Investments. | 3 |
Schedule of Investments (unaudited)(continued)
EMERGING MARKETS EQUITY FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| Thailand 0.61% | ||||||||
| Wireless Telecommunication Services | ||||||||
| Advanced Info Service PCL | 8,877 | $ | 92,715 | |||||
| United States 1.88% | ||||||||
| Biotechnology 0.43% | ||||||||
| BeOne Medicines Ltd. Class H* | 2,884 | 65,464 | ||||||
| Communications Equipment 0.54% | ||||||||
| Lumentum Holdings, Inc.* | 92 | 83,014 | ||||||
| Oil, Gas & Consumable Fuels 0.91% | ||||||||
| Shell PLC | 3,053 | 138,810 | ||||||
| Total United States | 287,288 | |||||||
| Total Common Stocks (cost $10,356,686) | 14,720,603 | |||||||
| PREFERRED STOCKS 2.37% | ||||||||
| Brazil 2.37% | ||||||||
| Banks 1.35% | ||||||||
| Banco Bradesco SA | 25,862 | 100,903 | ||||||
| Itau Unibanco Holding SA | 12,137 | 105,860 | ||||||
| 206,763 | ||||||||
| Oil, Gas & Consumable Fuels 1.02% | ||||||||
| Petroleo Brasileiro SA – Petrobras | 15,638 | 154,997 | ||||||
| Total Brazil | 361,760 | |||||||
| Total Preferred Stocks (cost $258,149) | 361,760 | |||||||
| Total Investments in Securities 98.85% (cost $10,614,835) | 15,082,363 | |||||||
| Other Assets and Liabilities – Net 1.15% | 174,840 | |||||||
| Net Assets 100.00% | $ | 15,257,203 | ||||||
| ADR | American Depositary Receipt. | |
| * | Non-income producing security. | |
| † | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At April 30, 2026, the total value of Rule 144A securities was $81,757, which represents 0.54% of net assets. |
| 4 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(concluded)
EMERGING MARKETS EQUITY FUND April 30, 2026
The following is a summary of the inputs used as of April 30, 2026 in valuing the Fund’s investments carried at fair value(1):
| Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Long-Term Investments | ||||||||||||||||
| Common Stocks | ||||||||||||||||
| Australia | $ | 96,261 | $ | – | $ | – | $ | 96,261 | ||||||||
| Austria | – | 101,435 | – | 101,435 | ||||||||||||
| Brazil | 676,085 | – | – | 676,085 | ||||||||||||
| China | 43,548 | 2,473,235 | – | 2,516,783 | ||||||||||||
| Germany | – | 52,215 | – | 52,215 | ||||||||||||
| Greece | – | 97,124 | – | 97,124 | ||||||||||||
| Hong Kong | – | 350,710 | – | 350,710 | ||||||||||||
| Hungary | – | 298,973 | – | 298,973 | ||||||||||||
| India | 265,794 | 939,451 | – | 1,205,245 | ||||||||||||
| Japan | – | 106,220 | – | 106,220 | ||||||||||||
| Macau | – | 57,596 | – | 57,596 | ||||||||||||
| Mexico | 497,688 | – | – | 497,688 | ||||||||||||
| Peru | 157,547 | – | – | 157,547 | ||||||||||||
| Philippines | – | 97,258 | – | 97,258 | ||||||||||||
| Saudi Arabia | – | 140,928 | – | 140,928 | ||||||||||||
| Singapore | 29,284 | – | – | 29,284 | ||||||||||||
| South Africa | 107,135 | 238,302 | – | 345,437 | ||||||||||||
| South Korea | – | 3,302,521 | – | 3,302,521 | ||||||||||||
| Taiwan | – | 4,211,290 | – | 4,211,290 | ||||||||||||
| Thailand | – | 92,715 | – | 92,715 | ||||||||||||
| United States | 83,014 | 204,274 | – | 287,288 | ||||||||||||
| Preferred Stocks | 361,760 | – | – | 361,760 | ||||||||||||
| Total | $ | 2,318,116 | $ | 12,764,247 | $ | – | $ | 15,082,363 | ||||||||
| (1) | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. | |
| (2) | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |
A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.
| See Notes to Schedule of Investments. | 5 |
Schedule of Investments (unaudited)
INTERNATIONAL GROWTH FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| LONG-TERM INVESTMENTS 94.55% | ||||||||
| COMMON STOCKS 94.55% | ||||||||
| Austria 1.99% | ||||||||
| Banks | ||||||||
| BAWAG Group AG† | 298 | $ | 51,033 | |||||
| Erste Group Bank AG | 544 | 60,110 | ||||||
| 111,143 | ||||||||
| Belgium 0.76% | ||||||||
| Pharmaceuticals | ||||||||
| UCB SA* | 155 | 42,205 | ||||||
| Brazil 0.85% | ||||||||
| Banks | ||||||||
| NU Holdings Ltd. Class A* | 3,282 | 47,523 | ||||||
| Canada 2.88% | ||||||||
| Consumer Staples Distribution & Retail 1.02% | ||||||||
| Alimentation Couche-Tard, Inc. | 965 | 57,089 | ||||||
| Metals & Mining 1.86% | ||||||||
| Agnico Eagle Mines Ltd. | 325 | 61,115 | ||||||
| Kinross Gold Corp. | 1,405 | 42,563 | ||||||
| 103,678 | ||||||||
| Total Canada | 160,767 | |||||||
| Chile 1.06% | ||||||||
| Metals & Mining | ||||||||
| Antofagasta PLC | 1,220 | 59,167 | ||||||
| China 3.53% | ||||||||
| Broadline Retail 0.95% | ||||||||
| Alibaba Group Holding Ltd. | 3,230 | 53,234 | ||||||
| Interactive Media & Services 2.10% | ||||||||
| Tencent Holdings Ltd. | 1,930 | 117,213 | ||||||
| Pharmaceuticals 0.48% | ||||||||
| Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class H | 3,200 | 26,682 | ||||||
| Total China | 197,129 | |||||||
| Denmark 1.28% | ||||||||
| Pharmaceuticals | ||||||||
| Novo Nordisk AS Class B | 1,675 | 71,248 | ||||||
| Investments | Shares | U.S. $ Fair Value | ||||||
| Finland 1.16% | ||||||||
| Communications Equipment | ||||||||
| Nokia OYJ | 5,100 | $ | 64,804 | |||||
| France 5.16% | ||||||||
| Aerospace & Defense 1.27% | ||||||||
| Safran SA | 221 | 70,966 | ||||||
| Biotechnology 0.23% | ||||||||
| Abivax SA ADR* | 110 | 12,912 | ||||||
| Electrical Equipment 1.56% | ||||||||
| Legrand SA | 485 | 86,894 | ||||||
| Personal Care Products 1.24% | ||||||||
| L’Oreal SA | 160 | 68,910 | ||||||
| Textiles, Apparel & Luxury Goods 0.86% | ||||||||
| LVMH Moet Hennessy Louis Vuitton SE | 90 | 48,079 | ||||||
| Total France | 287,761 | |||||||
| Germany 5.44% | ||||||||
| Aerospace & Defense 0.72% | ||||||||
| Rheinmetall AG | 25 | 39,870 | ||||||
| Construction Materials 0.72% | ||||||||
| Heidelberg Materials AG | 182 | 40,157 | ||||||
| Electrical Equipment 2.70% | ||||||||
| Pfisterer Holding SE* | 160 | 19,480 | ||||||
| Siemens Energy AG | 620 | 131,391 | ||||||
| 150,871 | ||||||||
| Semiconductors & Semiconductor Equipment 1.30% | ||||||||
| AIXTRON SE | 320 | 17,682 | ||||||
| Infineon Technologies AG | 815 | 54,813 | ||||||
| 72,495 | ||||||||
| Total Germany | 303,393 | |||||||
| Greece 0.99% | ||||||||
| Banks | ||||||||
| Alpha Bank SA | 13,715 | 55,041 | ||||||
| Hungary 1.14% | ||||||||
| Banks | ||||||||
| OTP Bank Nyrt | 475 | 63,711 | ||||||
| 6 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INTERNATIONAL GROWTH FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| India 1.39% | ||||||||
| Banks 0.36% | ||||||||
| ICICI Bank Ltd. ADR | 746 | $ | 19,836 | |||||
| Wireless Telecommunication Services 1.03% | ||||||||
| Bharti Airtel Ltd. | 2,890 | 57,771 | ||||||
| Total India | 77,607 | |||||||
| Italy 0.31% | ||||||||
| Passenger Airlines | ||||||||
| Ryanair Holdings PLC | 650 | 17,054 | ||||||
| Japan 17.29% | ||||||||
| Broadline Retail 0.79% | ||||||||
| Ryohin Keikaku Co. Ltd. | 1,900 | 43,897 | ||||||
| Electrical Equipment 2.97% | ||||||||
| Fujikura Ltd. | 2,780 | 107,261 | ||||||
| Furukawa Electric Co. Ltd. | 215 | 58,391 | ||||||
| 165,652 | ||||||||
| Electronic Equipment, Instruments & Components 1.40% | ||||||||
| Murata Manufacturing Co. Ltd. | 2,350 | 77,936 | ||||||
| Health Care Equipment & Supplies 1.07% | ||||||||
| Hoya Corp. | 320 | 59,758 | ||||||
| Household Durables 0.70% | ||||||||
| Panasonic Holdings Corp. | 1,900 | 38,866 | ||||||
| Industrial Conglomerates 1.74% | ||||||||
| Hitachi Ltd. | 3,049 | 96,953 | ||||||
| Machinery 2.30% | ||||||||
| Ebara Corp. | 1,490 | 50,970 | ||||||
| Mitsubishi Heavy Industries Ltd. | 2,600 | 77,599 | ||||||
| 128,569 | ||||||||
| Semiconductors & Semiconductor Equipment 5.45% | ||||||||
| Advantest Corp. | 380 | 70,953 | ||||||
| Disco Corp. | 100 | 47,578 | ||||||
| Kioxia Holdings Corp.* | 365 | 88,315 | ||||||
| Kokusai Electric Corp. | 480 | 20,201 | ||||||
| Tokyo Electron Ltd. | 262 | 77,207 | ||||||
| 304,254 | ||||||||
| Investments | Shares | U.S. $ Fair Value | ||||||
| Japan (continued) | ||||||||
| Textiles, Apparel & Luxury Goods 0.87% | ||||||||
| Asics Corp. | 1,717 | $ | 48,759 | |||||
| Total Japan | 964,644 | |||||||
| Mexico 0.74% | ||||||||
| Banks | ||||||||
| Grupo Financiero Banorte SAB de CV Class O | 3,827 | 41,555 | ||||||
| Netherlands 5.16% | ||||||||
| Biotechnology 0.91% | ||||||||
| Argenx SE ADR* | 65 | 50,812 | ||||||
| Semiconductors & Semiconductor Equipment 4.25% | ||||||||
| ASML Holding NV | 150 | 216,832 | ||||||
| BE Semiconductor Industries NV | 70 | 20,476 | ||||||
| 237,308 | ||||||||
| Total Netherlands | 288,120 | |||||||
| Peru 0.93% | ||||||||
| Banks | ||||||||
| Credicorp Ltd. | 160 | 51,867 | ||||||
| Singapore 0.67% | ||||||||
| Banks | ||||||||
| DBS Group Holdings Ltd. | 810 | 37,350 | ||||||
| South Korea 10.27% | ||||||||
| Aerospace & Defense 1.13% | ||||||||
| Hanwha Aerospace Co. Ltd. | 66 | 63,054 | ||||||
| Electrical Equipment 1.84% | ||||||||
| HD Hyundai Electric Co. Ltd. | 50 | 42,996 | ||||||
| LS Electric Co. Ltd. | 310 | 59,534 | ||||||
| 102,530 | ||||||||
| Life Sciences Tools & Services 0.54% | ||||||||
| Samsung Biologics Co. Ltd.†* | 30 | 29,911 | ||||||
| Semiconductors & Semiconductor Equipment 4.15% | ||||||||
| SK Hynix, Inc. | 260 | 231,860 | ||||||
| See Notes to Schedule of Investments. | 7 |
Schedule of Investments (unaudited)(continued)
INTERNATIONAL GROWTH FUND April 30, 2026
| Investments | Shares | U.S. $ Fair Value | ||||||
| South Korea (continued) | ||||||||
| Technology Hardware, Storage & Peripherals 2.61% | ||||||||
| Samsung Electronics Co. Ltd. | 966 | $ | 145,468 | |||||
| Total South Korea | 572,823 | |||||||
| Spain 1.19% | ||||||||
| Specialty Retail | ||||||||
| Industria de Diseno Textil SA | 1,114 | 66,674 | ||||||
| Sweden 1.37% | ||||||||
| Machinery | ||||||||
| Sandvik AB | 1,820 | 76,562 | ||||||
| Switzerland 5.74% | ||||||||
| Electrical Equipment 2.18% | ||||||||
| ABB Ltd. Registered Shares | 1,200 | 121,368 | ||||||
| Pharmaceuticals 2.54% | ||||||||
| Galderma Group AG | 410 | 86,015 | ||||||
| Sandoz Group AG | 693 | 55,588 | ||||||
| 141,603 | ||||||||
| Textiles, Apparel & Luxury Goods 1.02% | ||||||||
| Cie Financiere Richemont SA Class A | 298 | 57,191 | ||||||
| Total Switzerland | 320,162 | |||||||
| Taiwan 13.36% | ||||||||
| Communications Equipment 0.25% | ||||||||
| Accton Technology Corp. | 190 | 13,915 | ||||||
| Electronic Equipment, Instruments & Components 3.03% | ||||||||
| Delta Electronics, Inc. | 1,680 | 117,811 | ||||||
| Unimicron Technology Corp. | 1,800 | 51,126 | ||||||
| 168,937 | ||||||||
| Semiconductors & Semiconductor Equipment 9.06% | ||||||||
| ASE Technology Holding Co. Ltd. | 3,820 | 59,877 | ||||||
| ASPEED Technology, Inc. | 40 | 21,503 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 5,900 | 409,589 | ||||||
| Visual Photonics Epitaxy Co. Ltd. | 1,300 | 14,483 | ||||||
| 505,452 | ||||||||
| Investments | Shares | U.S. $ Fair Value | ||||||
| Taiwan (continued) | ||||||||
| Technology Hardware, Storage & Peripherals 1.02% | ||||||||
| Asia Vital Components Co. Ltd. | 623 | $ | 57,037 | |||||
| Total Taiwan | 745,341 | |||||||
| United Kingdom 3.88% | ||||||||
| Aerospace & Defense 0.30% | ||||||||
| Babcock International Group PLC | 1,130 | 17,024 | ||||||
| Beverages 0.46% | ||||||||
| Diageo PLC | 1,265 | 25,577 | ||||||
| Capital Markets 0.44% | ||||||||
| St. James’s Place PLC | 1,495 | 24,685 | ||||||
| Pharmaceuticals 1.70% | ||||||||
| AstraZeneca PLC | 500 | 94,861 | ||||||
| Trading Companies & Distributors 0.98% | ||||||||
| Diploma PLC | 575 | 54,418 | ||||||
| Total United Kingdom | 216,565 | |||||||
| United States 6.01% | ||||||||
| Biotechnology 0.80% | ||||||||
| BeOne Medicines Ltd. Class H* | 1,975 | 44,831 | ||||||
| Communications Equipment 0.32% | ||||||||
| Lumentum Holdings, Inc.* | 20 | 18,046 | ||||||
| Construction Materials 0.93% | ||||||||
| Holcim AG | 557 | 51,760 | ||||||
| Electrical Equipment 1.60% | ||||||||
| Schneider Electric SE | 280 | 89,099 | ||||||
| Interactive Media & Services 1.09% | ||||||||
| Alphabet, Inc. Class A | 158 | 60,798 | ||||||
| Pharmaceuticals 0.49% | ||||||||
| Novartis AG Registered Shares | 185 | 27,341 | ||||||
| Semiconductors & Semiconductor Equipment 0.78% | ||||||||
| Broadcom, Inc. | 104 | 43,413 | ||||||
| Total United States | 335,288 | |||||||
| Total Common Stocks (cost $3,591,964) | 5,275,504 | |||||||
| 8 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INTERNATIONAL GROWTH FUND April 30, 2026
| Investments | Principal Amount | Fair Value | ||||||
| SHORT-TERM INVESTMENTS 2.19% | ||||||||
| Repurchase Agreements 2.19% | ||||||||
| Repurchase Agreement dated 4/30/2026, 3.250% due 5/1/2026 with Fixed Income Clearing Corp. collateralized by $123,300 of U.S. Treasury Note at 3.750% due 6/30/2027; value: $124,758; proceeds: $122,205 (cost $122,194) | $ | 122,194 | $ | 122,194 | ||||
| Total Investments in Securities 96.74% (cost $3,714,158) | 5,397,698 | |||||||
| Other Assets and Liabilities – Net 3.26% | 181,974 | |||||||
| Net Assets 100.00% | $ | 5,579,672 |
| ADR | American Depositary Receipt. | |
| † | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At April 30, 2026, the total value of Rule 144A securities was $80,944, which represents 1.45% of net assets. | |
| * | Non-income producing security. |
| See Notes to Schedule of Investments. | 9 |
Schedule of Investments (unaudited)(concluded)
INTERNATIONAL GROWTH FUND April 30, 2026
The following is a summary of the inputs used as of April 30, 2026 in valuing the Fund’s investments carried at fair value(1):
| Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Long-Term Investments | ||||||||||||||||
| Common Stocks | ||||||||||||||||
| Austria | $ | – | $ | 111,143 | $ | – | $ | 111,143 | ||||||||
| Belgium | – | 42,205 | – | 42,205 | ||||||||||||
| Brazil | 47,523 | – | – | 47,523 | ||||||||||||
| Canada | 160,767 | – | – | 160,767 | ||||||||||||
| Chile | – | 59,167 | – | 59,167 | ||||||||||||
| China | – | 197,129 | – | 197,129 | ||||||||||||
| Denmark | – | 71,248 | – | 71,248 | ||||||||||||
| Finland | – | 64,804 | – | 64,804 | ||||||||||||
| France | 12,912 | 274,849 | – | 287,761 | ||||||||||||
| Germany | – | 303,393 | – | 303,393 | ||||||||||||
| Greece | – | 55,041 | – | 55,041 | ||||||||||||
| Hungary | – | 63,711 | – | 63,711 | ||||||||||||
| India | 19,836 | 57,771 | – | 77,607 | ||||||||||||
| Italy | – | 17,054 | – | 17,054 | ||||||||||||
| Japan | 43,897 | 920,747 | – | 964,644 | ||||||||||||
| Mexico | 41,555 | – | – | 41,555 | ||||||||||||
| Netherlands | 50,812 | 237,308 | – | 288,120 | ||||||||||||
| Peru | 51,867 | – | – | 51,867 | ||||||||||||
| Singapore | – | 37,350 | – | 37,350 | ||||||||||||
| South Korea | – | 572,823 | – | 572,823 | ||||||||||||
| Spain | – | 66,674 | – | 66,674 | ||||||||||||
| Sweden | – | 76,562 | – | 76,562 | ||||||||||||
| Switzerland | – | 320,162 | – | 320,162 | ||||||||||||
| Taiwan | – | 745,341 | – | 745,341 | ||||||||||||
| United Kingdom | – | 216,565 | – | 216,565 | ||||||||||||
| United States | 122,257 | 213,031 | – | 335,288 | ||||||||||||
| Short-Term Investments | ||||||||||||||||
| Repurchase Agreements | – | 122,194 | – | 122,194 | ||||||||||||
| Total | $ | 551,426 | $ | 4,846,272 | $ | – | $ | 5,397,698 | ||||||||
| (1) | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. | |
| (2) | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |
A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.
| 10 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| LONG-TERM INVESTMENTS 101.19% | ||||||||||||
| ASSET-BACKED SECURITIES 66.86% | ||||||||||||
| Automobiles 9.39% | ||||||||||||
| Ally Bank Auto Credit-Linked Notes Series 2024-A Class E† | 7.917% | 5/17/2032 | $ | 1,416,499 | $ | 1,444,090 | ||||||
| Ally Bank Auto Credit-Linked Notes Series 2024-B Class E† | 6.678% | 9/15/2032 | 728,578 | 732,530 | ||||||||
| Ally Bank Auto Credit-Linked Notes Series 2025-B Class E† | 6.164% | 9/15/2033 | 5,173,304 | 5,172,339 | ||||||||
| Bayview Opportunity Master Fund VII LLC Series 2024-CAR1 Class B† | 4.945% (30 day USD SOFR Average + 1.30% | )# | 12/26/2031 | 153,783 | 154,387 | |||||||
| Bayview Opportunity Master Fund VII Trust Series 2024-SN1 Class E† | 8.00% | 10/15/2029 | 2,000,000 | 2,042,669 | ||||||||
| Bridgecrest Lending Auto Securitization Trust Series 2023-1 Class D | 7.84% | 8/15/2029 | 7,845,000 | 8,150,624 | ||||||||
| Carmax Auto Owner Trust Series 2023-1 Class C | 5.19% | 1/16/2029 | 2,465,000 | 2,483,022 | ||||||||
| Carmax Auto Owner Trust Series 2023-3 Class C | 5.61% | 2/15/2029 | 5,000,000 | 5,065,353 | ||||||||
| CarMax Select Receivables Trust Series 2024-A Class A3 | 5.40% | 11/15/2028 | 4,738,761 | 4,768,601 | ||||||||
| CarMax Select Receivables Trust Series 2026-A Class D | 4.90% | 5/17/2032 | 6,238,000 | 6,183,106 | ||||||||
| Carvana Auto Receivables Trust Series 2023-N4 Class D† | 7.22% | 2/11/2030 | 2,325,000 | 2,406,607 | ||||||||
| Consumer Portfolio Services Auto Trust Series 2025-A Class C† | 5.25% | 4/15/2031 | 10,375,000 | 10,458,849 | ||||||||
| Consumer Portfolio Services Auto Trust Series 2025-D Class C† | 4.85% | 2/17/2032 | 2,615,000 | 2,615,183 | ||||||||
| CPS Auto Receivables Trust Series 2022-A Class E† | 4.88% | 4/16/2029 | 9,180,000 | 9,189,721 | ||||||||
| CPS Auto Receivables Trust Series 2022-B Class E† | 7.14% | 10/15/2029 | 4,900,000 | 4,950,990 | ||||||||
| CPS Auto Receivables Trust Series 2022-C Class E† | 9.08% | 4/15/2030 | 9,000,000 | 9,308,093 | ||||||||
| CPS Auto Receivables Trust Series 2023-A Class E† | 10.59% | 8/15/2030 | 6,667,000 | 7,243,824 | ||||||||
| CPS Auto Receivables Trust Series 2023-B Class E† | 10.72% | 11/15/2030 | 18,037,000 | 19,704,780 | ||||||||
| CPS Auto Receivables Trust Series 2023-C Class D† | 6.77% | 10/15/2029 | 4,795,000 | 4,917,844 | ||||||||
| See Notes to Schedule of Investments. | 11 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Automobiles (continued) | ||||||||||||
| CPS Auto Receivables Trust Series 2023-D Class D† | 7.80% | 1/15/2030 | $ | 9,237,000 | $ | 9,568,327 | ||||||
| CPS Auto Receivables Trust Series 2024-C Class E† | 8.04% | 3/15/2032 | 10,500,000 | 10,865,046 | ||||||||
| CPS Auto Receivables Trust Series 2024-D Class C† | 4.76% | 1/15/2031 | 6,210,000 | 6,221,161 | ||||||||
| CPS Auto Receivables Trust Series 2026-B Class C† | 4.93% | 7/15/2032 | 10,000,000 | 9,999,912 | ||||||||
| Drive Auto Receivables Trust Series 2024-1 Class C | 5.43% | 11/17/2031 | 2,330,000 | 2,361,060 | ||||||||
| Exeter Automobile Receivables Trust Series 2023-1A Class D | 6.69% | 6/15/2029 | 1,192,004 | 1,205,244 | ||||||||
| Exeter Automobile Receivables Trust Series 2023-1A Class E† | 12.07% | 9/16/2030 | 6,900,000 | 7,548,670 | ||||||||
| Exeter Automobile Receivables Trust Series 2023-2A Class D | 6.32% | 8/15/2029 | 8,742,000 | 8,874,908 | ||||||||
| Exeter Automobile Receivables Trust Series 2023-3A Class D | 6.68% | 4/16/2029 | 2,616,000 | 2,660,616 | ||||||||
| Exeter Automobile Receivables Trust Series 2023-3A Class E† | 9.98% | 1/15/2031 | 6,203,000 | 6,632,651 | ||||||||
| Exeter Automobile Receivables Trust Series 2023-5A Class C | 6.85% | 1/16/2029 | 5,452,248 | 5,502,126 | ||||||||
| Exeter Automobile Receivables Trust Series 2024-1A Class D | 5.84% | 6/17/2030 | 4,125,000 | 4,179,768 | ||||||||
| Exeter Automobile Receivables Trust Series 2024-2A Class E† | 7.98% | 10/15/2031 | 12,500,000 | 12,955,193 | ||||||||
| Exeter Automobile Receivables Trust Series 2025-1A Class E† | 7.48% | 9/15/2032 | 9,750,000 | 10,014,190 | ||||||||
| Exeter Automobile Receivables Trust Series 2026-2A Class C | 4.91% | 8/16/2032 | 5,000,000 | 4,999,184 | ||||||||
| First Investors Auto Owner Trust Series 2025-1A Class C† | 4.75% | 12/15/2031 | 17,535,000 | 17,538,889 | ||||||||
| GLS Auto Receivables Issuer Trust Series 2021-4A Class E† | 4.43% | 10/16/2028 | 3,000,000 | 2,997,112 | ||||||||
| GLS Auto Receivables Issuer Trust Series 2023-4A Class D† | 7.18% | 8/15/2029 | 2,393,000 | 2,461,447 | ||||||||
| GLS Auto Receivables Issuer Trust Series 2024-2A Class C† | 6.03% | 2/15/2030 | 4,460,000 | 4,524,236 | ||||||||
| GLS Auto Receivables Issuer Trust Series 2026-1A Class B† | 4.22% | 8/17/2030 | 4,770,000 | 4,740,239 | ||||||||
| Huntington Bank Auto Credit-Linked Notes Series 2024-1 Class D† | 8.89% (30 day USD SOFR Average + 5.25% | )# | 5/20/2032 | 3,926,070 | 3,991,376 | |||||||
| 12 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Automobiles (continued) | ||||||||||||
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 Class B2† | 4.99% (30 day USD SOFR Average + 1.35% | )# | 10/20/2032 | $ | 5,465,327 | $ | 5,475,320 | |||||
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 Class C† | 6.24% (30 day USD SOFR Average + 2.60% | )# | 10/20/2032 | 4,225,384 | 4,239,703 | |||||||
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 Class D† | 7.64% (30 day USD SOFR Average + 4.00% | )# | 10/20/2032 | 1,695,653 | 1,692,440 | |||||||
| Kinetic Advantage Master Owner Trust Series 2025-1A Class A† | 5.84% (30 day USD SOFR Average + 2.20% | )# | 10/15/2029 | 13,815,000 | 13,886,718 | |||||||
| LAD Auto Receivables Trust Series 2023-1A Class D† | 7.30% | 6/17/2030 | 728,000 | 733,065 | ||||||||
| LAD Auto Receivables Trust Series 2023-3A Class C† | 6.43% | 12/15/2028 | 8,900,000 | 9,008,682 | ||||||||
| LAD Auto Receivables Trust Series 2023-3A Class D† | 6.92% | 12/16/2030 | 1,100,000 | 1,122,997 | ||||||||
| Octane Receivables Trust Series 2023-1A Class C† | 6.37% | 9/20/2029 | 4,000,000 | 4,039,112 | ||||||||
| Octane Receivables Trust Series 2023-1A Class E† | 9.25% | 8/20/2030 | 3,000,000 | 3,146,199 | ||||||||
| Prestige Auto Receivables Trust Series 2023-2A Class B† | 6.64% | 12/15/2027 | 43,997 | 44,037 | ||||||||
| Prestige Auto Receivables Trust Series 2025-1A Class B† | 5.34% | 11/15/2028 | 8,229,000 | 8,254,125 | ||||||||
| Red Oak Funding Master Trust Series 2025-1A Class A† | 5.64% (30 day USD SOFR Average + 2.00% | )# | 12/20/2030 | 16,025,000 | 16,082,495 | |||||||
| Santander Bank Auto Credit-Linked Notes Series 2022-C Class F† | 14.592% | 12/15/2032 | 504,077 | 507,076 | ||||||||
| Santander Drive Auto Receivables Trust Series 2023-4 Class C | 6.04% | 12/15/2031 | 9,300,000 | 9,487,683 | ||||||||
| SBNA Auto Receivables Trust Series 2024-A Class C† | 5.59% | 1/15/2030 | 6,030,000 | 6,109,817 | ||||||||
| SBNA Auto Receivables Trust Series 2024-A Class E† | 8.00% | 4/15/2032 | 4,860,000 | 5,014,605 | ||||||||
| SBNA Auto Receivables Trust Series 2025-SF1 Class D† | 5.34% | 9/15/2031 | 9,250,000 | 9,280,414 | ||||||||
| Securitized Term Auto Receivables Trust Series 2025-A Class D† | 6.746% | 7/25/2031 | 2,495,420 | 2,542,549 | ||||||||
| U.S. Bank NA Series 2023-1 Class C† | 9.785% | 8/25/2032 | 554,133 | 563,134 | ||||||||
| U.S. Bank NA Series 2026-RVM1 Class C† | 5.595% | 12/25/2046 | 8,761,127 | 8,689,562 | ||||||||
| See Notes to Schedule of Investments. | 13 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Automobiles (continued) | ||||||||||||
| VStrong Auto Receivables Trust Series 2023-A Class D† | 9.31% | 2/15/2030 | $ | 3,255,000 | $ | 3,510,134 | ||||||
| VStrong Auto Receivables Trust Series 2023-A Class E† | 9.99% | 12/16/2030 | 1,000,000 | 1,089,566 | ||||||||
| VStrong Auto Receivables Trust Series 2024-A Class C† | 6.44% | 7/15/2030 | 3,010,000 | 3,086,750 | ||||||||
| VStrong Auto Receivables Trust Series 2024-A Class D† | 7.29% | 7/15/2030 | 3,000,000 | 3,125,745 | ||||||||
| Westlake Automobile Receivables Trust Series 2023-3A Class D† | 6.47% | 3/15/2029 | 1,745,000 | 1,774,422 | ||||||||
| Westlake Automobile Receivables Trust Series 2024-1A Class C† | 5.65% | 2/15/2029 | 4,750,000 | 4,788,631 | ||||||||
| Westlake Automobile Receivables Trust Series 2024-3A Class C† | 4.92% | 11/15/2029 | 3,555,000 | 3,575,886 | ||||||||
| Total | 377,704,834 | |||||||||||
| Credit Card 1.14% | ||||||||||||
| Capital One Multi-Asset Execution Trust Series 2025-A3 Class A | 4.65% | 10/15/2037 | 1,515,000 | 1,498,424 | ||||||||
| Continental Finance Credit Card ABS Master Trust Series 2024-A Class A† | 5.78% | 12/15/2032 | 13,151,000 | 13,243,501 | ||||||||
| Fortiva Retail Prime Masters Notes Business Trust Series 2025-A Class A† | 6.60% | 9/17/2029 | 4,600,000 | 4,614,720 | (a) | |||||||
| Mercury Financial Credit Card Master Trust Series 2024-2A Class A† | 6.56% | 7/20/2029 | 10,190,000 | 10,200,123 | ||||||||
| Mercury Financial Credit Card Master Trust Series 2025-1A Class B† | 6.16% | 12/22/2031 | 8,950,000 | 8,751,003 | ||||||||
| Perimeter Master Note Business Trust Series 2025-1A Class A† | 5.58% | 12/16/2030 | 7,500,000 | 7,483,577 | ||||||||
| Total | 45,791,348 | |||||||||||
| Other 56.26% | ||||||||||||
| 1988 CLO 1 Ltd. Series 2022-1A Class AR† | 5.033% (3 mo. USD Term SOFR + 1.36% | )# | 10/15/2039 | 8,270,000 | 8,279,477 | |||||||
| 1988 CLO 3 Ltd. Series 2023-3A Class A1R† | 4.923% (3 mo. USD Term SOFR + 1.25% | )# | 10/15/2038 | 6,500,000 | 6,502,912 | |||||||
| 1988 CLO 4 Ltd. Series 2024-4A Class BR† | 5.373% (3 mo. USD Term SOFR + 1.70% | )# | 4/15/2039 | 9,630,000 | 9,644,705 | |||||||
| 1988 CLO 5 Ltd. Series 2024-5A Class A1† | 5.213% (3 mo. USD Term SOFR + 1.54% | )# | 7/15/2037 | 1,000,000 | 1,001,777 | |||||||
| 14 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| 37 Capital CLO 3 Ltd. Series 2023-1A Class A1R† | 5.173% (3 mo. USD Term SOFR + 1.50% | )# | 7/15/2038 | $ | 3,250,000 | $ | 3,261,346 | |||||
| 37 Capital CLO 3 Ltd. Series 2023-1A Class ER† | 11.523% (3 mo. USD Term SOFR + 7.85% | )# | 7/15/2038 | 2,000,000 | 1,926,416 | |||||||
| 720 East CLO Ltd. Series 2022-1A Class ER† | 9.575% (3 mo. USD Term SOFR + 5.90% | )# | 1/20/2038 | 2,000,000 | 1,965,608 | |||||||
| AB BSL CLO 3 Ltd. Series 2021-3A Class C2R† | 5.675% (3 mo. USD Term SOFR + 2.00% | )# | 4/20/2038 | 1,000,000 | 1,002,397 | |||||||
| AB BSL CLO 6 Ltd. Series 2025-6A Class D1† | 7.125% (3 mo. USD Term SOFR + 3.45% | )# | 7/20/2037 | 6,600,000 | 6,611,042 | |||||||
| AB BSL CLO 6 Ltd. Series 2025-6A Class E† | 9.675% (3 mo. USD Term SOFR + 6.00% | )# | 7/20/2037 | 3,000,000 | 3,011,376 | |||||||
| Abry Liquid Credit CLO Ltd. Series 2025-1A Class A2† | 5.325% (3 mo. USD Term SOFR + 1.65% | )# | 10/20/2038 | 3,500,000 | 3,505,915 | |||||||
| Abry Liquid Credit CLO Ltd. Series 2025-1A Class C† | 5.775% (3 mo. USD Term SOFR + 2.10% | )# | 10/20/2038 | 1,500,000 | 1,505,693 | |||||||
| Affirm Asset Securitization Trust Series 2024-B Class B† | 4.88% | 9/15/2029 | 6,075,000 | 6,080,632 | ||||||||
| Affirm Master Trust Series 2025-3A Class A† | 4.45% | 10/16/2034 | 10,525,000 | 10,501,591 | ||||||||
| Affirm Master Trust Series 2026-2A Class E† | 7.06% | 4/16/2035 | 10,000,000 | 10,000,394 | ||||||||
| AGL CLO 24 Ltd. Series 2023-24A Class A2R† | 5.376% (3 mo. USD Term SOFR + 1.71% | )# | 3/31/2038 | 6,000,000 | 6,016,122 | |||||||
| AGL CLO 35 Ltd. Series 2024-35A Class A1† | 5.012% (3 mo. USD Term SOFR + 1.34% | )# | 1/21/2038 | 1,500,000 | 1,504,247 | |||||||
| Allegro CLO V-S Ltd. Series 2024-2A Class CT† | 6.117% (3 mo. USD Term SOFR + 2.45% | )# | 7/24/2037 | 3,000,000 | 3,005,127 | |||||||
| AMMC CLO 23 Ltd. Series 2020-23A Class AR3† | 5.07% (3 mo. USD Term SOFR + 1.39% | )# | 7/17/2038 | 16,300,000 | 16,343,309 | |||||||
| AMMC CLO 25 Ltd. Series 2022-25A Class D1R2† | 6.673% (3 mo. USD Term SOFR + 3.00% | )# | 10/15/2038 | 4,560,000 | 4,553,347 | |||||||
| See Notes to Schedule of Investments. | 15 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| AMMC CLO 28 Ltd. Series 2024-28A Class D1† | 7.175% (3 mo. USD Term SOFR + 3.50% | )# | 7/20/2037 | $ | 6,750,000 | $ | 6,761,286 | |||||
| AMMC CLO 30 Ltd. Series 2024-30A Class D1R† | 6.243% (3 mo. USD Term SOFR + 2.65% | )# | 4/15/2039 | 5,000,000 | 5,017,615 | |||||||
| AMMC CLO 31 Ltd. Series 2025-31A Class D† | 6.625% (3 mo. USD Term SOFR + 2.95% | )# | 2/20/2038 | 3,500,000 | 3,513,108 | |||||||
| Anchorage Capital CLO 29 Ltd. Series 2024-29A Class D1† | 7.675% (3 mo. USD Term SOFR + 4.00% | )# | 7/20/2037 | 1,000,000 | 1,000,050 | |||||||
| Anchorage Capital CLO 32 Ltd. Series 2025-32A Class D† | 7.623% (3 mo. USD Term SOFR + 3.95% | )# | 7/15/2037 | 2,215,000 | 2,218,515 | |||||||
| Anthelion CLO Ltd. Series 2025-1A Class A1† | 5.175% (3 mo. USD Term SOFR + 1.50% | )# | 7/20/2036 | 7,095,000 | 7,103,358 | |||||||
| Anthelion CLO Ltd. Series 2025-1A Class D1† | 7.325% (3 mo. USD Term SOFR + 3.65% | )# | 7/20/2036 | 3,060,000 | 3,067,696 | |||||||
| Anthelion CLO Ltd. Series 2025-2A Class A1† | 4.97% (3 mo. USD Term SOFR + 1.30% | )# | 4/20/2039 | 15,000,000 | 15,020,745 | |||||||
| Apex Credit CLO Ltd. Series 2020-1A Class A1R3† | 4.835% (3 mo. USD Term SOFR + 1.16% | )# | 4/20/2035 | 5,400,000 | 5,402,624 | |||||||
| Apidos CLO XLVIII Ltd. Series 2024-48A Class E† | 9.417% (3 mo. USD Term SOFR + 5.75% | )# | 7/25/2037 | 150,000 | 150,638 | |||||||
| Apidos CLO XXXIX Ltd. Series 2022-39A Class A1R† | 4.902% (3 mo. USD Term SOFR + 1.23% | )# | 10/21/2038 | 8,650,000 | 8,662,101 | |||||||
| Arini U.S. CLO I Ltd. Series 1A Class B† | 5.923% (3 mo. USD Term SOFR + 2.25% | )# | 4/15/2038 | 9,325,000 | 9,375,476 | |||||||
| Arini U.S. CLO I Ltd. Series 1A Class C† | 6.573% (3 mo. USD Term SOFR + 2.90% | )# | 4/15/2038 | 9,300,000 | 9,391,847 | |||||||
| Arini U.S. CLO III Ltd. Series 3A Class C† | 5.661% (3 mo. USD Term SOFR + 1.90% | )# | 1/15/2039 | 2,200,000 | 2,206,048 | |||||||
| Arini U.S. CLO III Ltd. Series 3A Class D† | 6.661% (3 mo. USD Term SOFR + 2.90% | )# | 1/15/2039 | 4,120,000 | 4,125,978 | |||||||
| 16 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| ASP WHCO Partner 2 LP | 6.783% | #(b) | 3/29/2029 | $ | 15,000,000 | $ | 15,000,459 | (a) | ||||
| Atlantic Avenue Ltd. Series 2023-1A Class AR† | 5.033% (3 mo. USD Term SOFR + 1.36% | )# | 1/15/2039 | 3,000,000 | 3,007,668 | |||||||
| Atlantic Avenue Ltd. Series 2023-1A Class D1R† | 6.973% (3 mo. USD Term SOFR + 3.30% | )# | 1/15/2039 | 4,520,000 | 4,516,691 | |||||||
| Atlantic Avenue Ltd. Series 2024-2A Class D† | 8.425% (3 mo. USD Term SOFR + 4.75% | )# | 4/20/2037 | 1,000,000 | 1,001,377 | |||||||
| Atlantic Avenue Ltd. Series 2024-3A Class C† | 5.875% (3 mo. USD Term SOFR + 2.20% | )# | 1/20/2035 | 6,500,000 | 6,484,653 | |||||||
| Atlas Senior Loan Fund XXIV Ltd. Series 2024-24A Class D1† | 7.275% (3 mo. USD Term SOFR + 3.60% | )# | 1/20/2038 | 1,450,000 | 1,454,554 | |||||||
| Atlas Senior Loan Fund XXV Ltd. Series 2025-25A Class B† | 5.525% (3 mo. USD Term SOFR + 1.85% | )# | 7/20/2038 | 3,675,081 | 3,694,405 | |||||||
| Atlas Senior Loan Fund XXV Ltd. Series 2025-25A Class SUB† | Zero coupon | #(b) | 7/20/2038 | 3,430,000 | 1,710,990 | |||||||
| Atlas Senior Loan Fund XXVII Ltd. Series 2026-27A Class D1† | 7.01% (3 mo. USD Term SOFR + 3.35% | )# | 1/22/2039 | 7,475,000 | 7,458,024 | |||||||
| Bain Capital Credit CLO Ltd. Series 2019-2A Class AR3† | 4.60% (3 mo. USD Term SOFR + 0.92% | )# | 10/17/2032 | 17,499,215 | 17,497,798 | |||||||
| Bain Capital Credit CLO Ltd. Series 2020-1A Class A1RR† | 4.665% (3 mo. USD Term SOFR + 0.99% | )# | 4/18/2033 | 8,371,612 | 8,370,817 | |||||||
| Bain Capital Credit CLO Ltd. Series 2024-5A Class E† | 9.822% (3 mo. USD Term SOFR + 6.15% | )# | 10/21/2037 | 500,000 | 495,483 | |||||||
| Balboa Bay Loan Funding Ltd. Series 2022-1A Class AR† | 4.865% (3 mo. USD Term SOFR + 1.19% | )# | 4/20/2037 | 19,400,000 | 19,396,935 | |||||||
| Ballyrock CLO 20 Ltd. Series 2022-20A Class A1A3† | 4.723% (3 mo. USD Term SOFR + 1.05% | )# | 10/15/2036 | 3,900,000 | 3,894,322 | |||||||
| Ballyrock CLO 21 Ltd. Series 2022-21A Class C1R† | 6.825% (3 mo. USD Term SOFR + 3.15% | )# | 10/20/2037 | 1,030,000 | 1,017,203 | |||||||
| See Notes to Schedule of Investments. | 17 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Ballyrock CLO 22 Ltd. Series 2024-22A Class B† | 6.023% (3 mo. USD Term SOFR + 2.35% | )# | 4/15/2037 | $ | 2,000,000 | $ | 2,004,826 | |||||
| BAR Issuer LLC Series 2026-FL1 Class A† | 5.261% (1 mo. USD Term SOFR + 1.60% | )# | 8/20/2043 | 11,750,000 | 11,787,633 | |||||||
| Barings CLO Ltd. Series 2021-3A Class AR† | 4.805% (3 mo. USD Term SOFR + 1.13% | )# | 1/18/2035 | 20,000,000 | 20,005,640 | |||||||
| Barings CLO Ltd. Series 2023-1A Class A2R† | 5.375% (3 mo. USD Term SOFR + 1.70% | )# | 4/20/2038 | 1,000,000 | 1,002,498 | |||||||
| Barrow Hanley CLO I Ltd. Series 2023-1A Class A2R† | 5.215% (3 mo. USD Term SOFR + 1.54% | )# | 1/20/2038 | 6,200,000 | 6,203,813 | |||||||
| Barrow Hanley CLO I Ltd. Series 2023-1A Class D1R† | 6.775% (3 mo. USD Term SOFR + 3.10% | )# | 1/20/2038 | 3,500,000 | 3,504,725 | |||||||
| Barrow Hanley CLO II Ltd. Series 2023-2A Class A1R† | 4.985% (3 mo. USD Term SOFR + 1.31% | )# | 3/31/2038 | 5,000,000 | 5,012,750 | |||||||
| Barrow Hanley CLO II Ltd. Series 2023-2A Class D1RR† | 6.725% (3 mo. USD Term SOFR + 3.05% | )# | 3/31/2038 | 4,000,000 | 4,005,180 | |||||||
| Barrow Hanley CLO III Ltd. Series 2024-3A Class D† | 7.825% (3 mo. USD Term SOFR + 4.15% | )# | 4/20/2037 | 2,050,000 | 2,053,124 | |||||||
| Battalion CLO IX Ltd. Series 2015-9A Class BRR† | 5.273% (3 mo. USD Term SOFR + 1.60% | )# | 7/15/2031 | 13,280,000 | 13,293,971 | |||||||
| Battalion CLO X Ltd. Series 2016-10A Class A1R3† | 4.807% (3 mo. USD Term SOFR + 1.14% | )# | 1/24/2035 | 17,901,676 | 17,915,103 | |||||||
| Battalion CLO XXVIII Ltd. Series 2025-28A Class D1† | 6.725% (3 mo. USD Term SOFR + 3.05% | )# | 1/20/2038 | 5,000,000 | 5,020,040 | |||||||
| Battery Park CLO II Ltd. Series 2022-1A Class CR† | 6.025% (3 mo. USD Term SOFR + 2.35% | )# | 10/20/2037 | 1,250,000 | 1,252,699 | |||||||
| BDS LLC Series 2025-FL15 Class A† | 5.061% (1 mo. USD Term SOFR + 1.40% | )# | 3/19/2043 | 11,160,000 | 11,176,195 | |||||||
| BDS LLC Series 2025-FL16 Class A† | 5.061% (1 mo. USD Term SOFR + 1.40% | )# | 6/19/2043 | 9,360,000 | 9,387,592 | |||||||
| BDS LLC Series 2026-FL17 Class A†(c) | 5.00% (1 mo. USD Term SOFR + 1.35% | )# | 5/19/2043 | 2,820,000 | 2,827,050 | |||||||
| Benefit Street Partners CLO 42 Ltd. Series 2025-42A Class A† | 4.967% (3 mo. USD Term SOFR + 1.30% | )# | 10/25/2038 | 8,000,000 | 8,018,064 | |||||||
| 18 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Benefit Street Partners CLO X Ltd. Series 2016-10A Class A1R3† | 4.975% (3 mo. USD Term SOFR + 1.30% | )# | 7/20/2038 | $ | 11,520,000 | $ | 11,549,134 | |||||
| Benefit Street Partners CLO XXVIII Ltd. Series 2022-28A Class AR† | 5.025% (3 mo. USD Term SOFR + 1.35% | )# | 10/20/2037 | 6,500,000 | 6,509,919 | |||||||
| Benefit Street Partners CLO XXVIII Ltd. Series 2022-28A Class CR† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 10/20/2037 | 1,500,000 | 1,503,029 | |||||||
| Benefit Street Partners CLO XXXIX Ltd. Series 2025-39A Class SUB† | Zero coupon | #(b) | 4/15/2038 | 4,000,000 | 2,659,732 | |||||||
| Benefit Street Partners CLO XXXVII Ltd. Series 2024-37A Class A† | 5.017% (3 mo. USD Term SOFR + 1.35% | )# | 1/25/2038 | 2,000,000 | 2,003,748 | |||||||
| Birch Grove CLO 13 Ltd. Series 2025-13A Class A1† | 4.976% (3 mo. USD Term SOFR + 1.31% | )# | 10/23/2038 | 10,000,000 | 10,021,240 | |||||||
| Birch Grove CLO 14 Ltd. Series 2025-14A Class D2† | 8.414% (3 mo. USD Term SOFR + 4.75% | )# | 7/22/2037 | 3,550,000 | 3,561,143 | |||||||
| Birch Grove CLO 14 Ltd. Series 2025-14A Class E† | 10.314% (3 mo. USD Term SOFR + 6.65% | )# | 7/22/2037 | 5,000,000 | 5,039,545 | |||||||
| Birch Grove CLO 15 Ltd. Series 2025-15A Class A1† | 4.964% (3 mo. USD Term SOFR + 1.25% | )# | 1/23/2039 | 3,500,000 | 3,506,125 | |||||||
| Birch Grove CLO 4 Ltd. Series 2022-4A Class A1R† | 5.153% (3 mo. USD Term SOFR + 1.48% | )# | 7/15/2037 | 160,000 | 160,191 | |||||||
| Birch Grove CLO 4 Ltd. Series 2022-4A Class BR† | 5.473% (3 mo. USD Term SOFR + 1.80% | )# | 7/15/2037 | 1,760,000 | 1,761,640 | |||||||
| Birch Grove CLO 5 Ltd. Series 2023-5A Class D1R† | 7.025% (3 mo. USD Term SOFR + 3.35% | )# | 10/20/2037 | 750,000 | 751,262 | |||||||
| Birch Grove CLO 6 Ltd. Series 2023-6A Class A1R† | 5.055% (3 mo. USD Term SOFR + 1.38% | )# | 7/20/2037 | 10,000,000 | 10,059,830 | |||||||
| Birch Grove CLO 8 Ltd. Series 2024-8A Class A1R† | 4.965% (3 mo. USD Term SOFR + 1.29% | )# | 4/20/2039 | 5,970,000 | 5,982,537 | |||||||
| Black Diamond CLO Ltd. Series 2022-1A Class D1R† | 6.967% (3 mo. USD Term SOFR + 3.30% | )# | 4/25/2039 | 6,080,000 | 6,094,367 | |||||||
| See Notes to Schedule of Investments. | 19 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Black Diamond CLO Ltd. Series 2024-1A Class B† | 5.687% (3 mo. USD Term SOFR + 2.02% | )# | 10/25/2037 | $ | 8,000,000 | $ | 8,013,800 | |||||
| Black Diamond CLO Ltd. Series 2025-1A Class B† | 5.823% (3 mo. USD Term SOFR + 2.15% | )# | 7/15/2038 | 7,000,000 | 7,030,975 | |||||||
| Black Diamond CLO Ltd. Series 2025-1A Class C1† | 6.073% (3 mo. USD Term SOFR + 2.40% | )# | 7/15/2038 | 10,000,000 | 10,046,640 | |||||||
| Black Diamond CLO Ltd. Series 2025-2A Class D1† | 7.223% (3 mo. USD Term SOFR + 3.55% | )# | 10/15/2038 | 3,000,000 | 3,006,276 | |||||||
| Brant Point CLO Ltd. Series 2023-1A Class D1R† | 7.167% (3 mo. USD Term SOFR + 3.50% | )# | 7/26/2038 | 1,200,000 | 1,203,912 | |||||||
| Brant Point CLO Ltd. Series 2023-1A Class ER† | 10.767% (3 mo. USD Term SOFR + 7.10% | )# | 7/26/2038 | 3,730,000 | 3,748,997 | |||||||
| Brant Point CLO Ltd. Series 2023-2A Class D1R† | 6.419% (3 mo. USD Term SOFR + 2.75% | )# | 1/29/2039 | 7,950,000 | 7,949,157 | |||||||
| Brant Point CLO Ltd. Series 2024-3A Class D1R† | 6.28% (3 mo. USD Term SOFR + 2.65% | )# | 1/20/2039 | 3,200,000 | 3,196,797 | |||||||
| Brant Point CLO Ltd. Series 2024-3A Class ER† | 10.46% (3 mo. USD Term SOFR + 6.83% | )# | 1/20/2039 | 2,000,000 | 2,007,888 | |||||||
| Brant Point CLO Ltd. Series 2024-4A Class C† | 6.125% (3 mo. USD Term SOFR + 2.45% | )# | 7/20/2037 | 1,300,000 | 1,303,886 | |||||||
| Brant Point CLO Ltd. Series 2024-6A Class D1† | 6.873% (3 mo. USD Term SOFR + 3.20% | )# | 1/15/2038 | 5,000,000 | 5,006,935 | |||||||
| Brant Point CLO Ltd. Series 2025-7A Class D1† | 6.867% (3 mo. USD Term SOFR + 3.20% | )# | 7/25/2038 | 6,000,000 | 6,012,744 | |||||||
| Bridge Street CLO Ltd. Series 2025-1A Class E† | 9.025% (3 mo. USD Term SOFR + 5.35% | )# | 4/20/2038 | 2,730,000 | 2,683,724 | |||||||
| Bryant Park Funding Ltd. Series 2023-20A Class BR† | 5.573% (3 mo. USD Term SOFR + 1.90% | )# | 4/15/2038 | 8,450,000 | 8,463,545 | |||||||
| Bryant Park Funding Ltd. Series 2023-20A Class ER† | 10.423% (3 mo. USD Term SOFR + 6.75% | )# | 4/15/2038 | 3,750,000 | 3,766,163 | |||||||
| Bryant Park Funding Ltd. Series 2024-22A Class E† | 10.803% (3 mo. USD Term SOFR + 7.13% | )# | 4/15/2037 | 2,500,000 | 2,506,563 | |||||||
| Bryant Park Funding Ltd. Series 2024-23A Class D1† | 7.503% (3 mo. USD Term SOFR + 3.85% | )# | 5/15/2037 | 400,000 | 400,020 | |||||||
| Bryant Park Funding Ltd. Series 2024-25A Class A2† | 5.275% (3 mo. USD Term SOFR + 1.60% | )# | 1/18/2038 | 3,000,000 | 3,001,551 | |||||||
| Cajun Global LLC Series 2025-2A Class A2† | 5.912% | 11/20/2055 | 6,925,000 | 6,878,882 | ||||||||
| 20 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Canyon CLO Ltd. Series 2021-4A Class CR† | 5.473% (3 mo. USD Term SOFR + 1.80% | )# | 10/15/2034 | $ | 7,000,000 | $ | 6,923,308 | |||||
| Canyon CLO Ltd. Series 2023-2A Class B† | 5.723% (3 mo. USD Term SOFR + 2.05% | )# | 5/15/2037 | 540,000 | 540,873 | |||||||
| Captree Park CLO Ltd. Series 2024-1A Class C† | 5.975% (3 mo. USD Term SOFR + 2.30% | )# | 7/20/2037 | 3,450,000 | 3,458,039 | |||||||
| Carlyle Global Market Strategies CLO Ltd. Series 2015-4A Class BR3† | 5.125% (3 mo. USD Term SOFR + 1.45% | )# | 7/20/2032 | 5,068,277 | 5,073,675 | |||||||
| Carlyle Global Market Strategies CLO Ltd. Series 2015-5A Class A2R4† | 4.875% (3 mo. USD Term SOFR + 1.20% | )# | 1/20/2032 | 10,365,000 | 10,361,289 | |||||||
| Carlyle U.S. CLO Ltd. Series 2019-3A Class ER3† | 8.621% (3 mo. USD Term SOFR + 4.95% | )# | 4/20/2039 | 2,650,000 | 2,596,046 | |||||||
| Carlyle U.S. CLO Ltd. Series 2021-10A Class A2R† | 5.245% (3 mo. USD Term SOFR + 1.57% | )# | 1/20/2038 | 5,000,000 | 5,006,815 | |||||||
| Carlyle U.S. CLO Ltd. Series 2021-1A Class A1BR† | 5.273% (3 mo. USD Term SOFR + 1.60% | )# | 1/15/2040 | 3,500,000 | 3,504,830 | |||||||
| Carlyle U.S. CLO Ltd. Series 2021-9A Class AR† | 4.785% (3 mo. USD Term SOFR + 1.11% | )# | 10/20/2034 | 10,000,000 | 10,015,910 | |||||||
| Carlyle U.S. CLO Ltd. Series 2022-3A Class A1R2† | 4.835% (3 mo. USD Term SOFR + 1.16% | )# | 4/20/2039 | 5,000,000 | 4,996,260 | |||||||
| Carlyle U.S. CLO Ltd. Series 2023-1A Class BR† | 5.375% (3 mo. USD Term SOFR + 1.70% | )# | 7/20/2037 | 5,500,000 | 5,526,477 | |||||||
| Carlyle U.S. CLO Ltd. Series 2023-2A Class BR† | 5.425% (3 mo. USD Term SOFR + 1.75% | )# | 7/20/2038 | 2,180,267 | 2,191,556 | |||||||
| CarVal CLO III Ltd. Series 2019-2A Class CR2† | 5.275% (3 mo. USD Term SOFR + 1.60% | )# | 7/20/2032 | 6,000,000 | 5,985,252 | |||||||
| Cathedral Lake VI Ltd. Series 2021-6A Class BR† | 5.517% (3 mo. USD Term SOFR + 1.85% | )# | 4/25/2034 | 6,000,000 | 6,006,474 | |||||||
| CBAM Ltd. Series 2018-5A Class CR† | 5.68% (3 mo. USD Term SOFR + 2.00% | )# | 10/17/2038 | 7,000,000 | 7,037,443 | |||||||
| CBAMR Ltd. Series 2018-8A Class DR† | 7.673% (3 mo. USD Term SOFR + 4.00% | )# | 7/15/2037 | 9,750,000 | 9,777,027 | |||||||
| Cherry Securitization Trust Series 2024-1A Class A† | 5.70% | 4/15/2032 | 3,950,000 | 3,965,962 | ||||||||
| Cherry Securitization Trust Series 2025-1A Class A† | 6.13% | 11/15/2032 | 8,375,000 | 8,465,884 | ||||||||
| See Notes to Schedule of Investments. | 21 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| CIFC Funding Ltd. Series 2014-5A Class CR3† | 5.83% (3 mo. USD Term SOFR + 2.15% | )# | 7/17/2037 | $ | 1,000,000 | $ | 1,001,708 | |||||
| CIFC Funding Ltd. Series 2022-6A Class BR† | 5.43% (3 mo. USD Term SOFR + 1.75% | )# | 10/16/2038 | 2,000,000 | 2,008,662 | |||||||
| CIFC Funding Ltd. Series 2024-3A Class A1† | 5.152% (3 mo. USD Term SOFR + 1.48%) | # | 7/21/2037 | 4,320,000 | 4,326,147 | |||||||
| CIFC Funding Ltd. Series 2024-4A Class A† | 5.03% (3 mo. USD Term SOFR + 1.35% | )# | 10/16/2037 | 1,000,000 | 1,001,371 | |||||||
| Clarus Capital Funding LLC Series 2026-1A Class D† | 5.91% | 11/20/2034 | 6,465,000 | 6,449,404 | ||||||||
| Columbia Cent CLO 33 Ltd. Series 2024-33A Class C1† | 6.375% (3 mo. USD Term SOFR + 2.70% | )# | 4/20/2037 | 2,000,000 | 2,006,536 | |||||||
| Columbia Cent CLO 34 Ltd. Series 2024-34A Class D1N† | 6.967% (3 mo. USD Term SOFR + 3.30% | )# | 1/25/2038 | 3,000,000 | 3,005,265 | |||||||
| CQS U.S. CLO 5 Ltd. Series 2025-5A Class D1† | 6.961% (3 mo. USD Term SOFR + 3.15% | )# | 1/17/2039 | 2,000,000 | 2,002,754 | |||||||
| CQS U.S. CLO 6 Ltd. Series 2026-6A Class D1† | 6.881% (3 mo. USD Term SOFR + 3.20% | )# | 3/31/2039 | 1,750,000 | 1,754,200 | |||||||
| CQS U.S. CLO Ltd. Series 2021-1A Class AR† | 4.875% (3 mo. USD Term SOFR + 1.20% | )# | 1/20/2035 | 4,500,000 | 4,501,697 | |||||||
| CQS U.S. CLO Ltd. Series 2023-3A Class BR† | 5.42% (3 mo. USD Term SOFR + 1.75% | )# | 1/25/2037 | 13,950,000 | 13,957,449 | |||||||
| CQS U.S. CLO Ltd. Series 2025-4A Class B† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 7/20/2036 | 5,750,000 | 5,756,831 | |||||||
| CQS U.S. CLO Ltd. Series 2025-4A Class D1† | 7.175% (3 mo. USD Term SOFR + 3.50% | )# | 7/20/2036 | 6,630,000 | 6,641,709 | |||||||
| Crockett Partners Equipment Co. IIA LLC Series 2024-1C Class A† | 6.05% | 1/20/2031 | 8,333,282 | 8,428,908 | ||||||||
| Crossroads Asset Trust Series 2025-A Class A2† | 4.91% | 2/20/2032 | 7,921,778 | 7,961,296 | ||||||||
| Crown City CLO I Series 2020-1A Class CRR† | 5.775% (3 mo. USD Term SOFR + 2.10% | )# | 7/20/2038 | 2,500,000 | 2,508,945 | |||||||
| Crown City CLO I Series 2020-1A Class D1RR† | 6.675% (3 mo. USD Term SOFR + 3.00% | )# | 7/20/2038 | 4,000,000 | 3,984,020 | |||||||
| Crown City CLO IV Series 2022-4A Class B1R† | 6.475% (3 mo. USD Term SOFR + 2.80% | )# | 4/20/2037 | 3,000,000 | 3,009,516 | |||||||
| Crown City CLO V Series 2023-5A Class BR† | 6.275% (3 mo. USD Term SOFR + 2.60% | )# | 4/20/2037 | 2,000,000 | 2,005,124 | |||||||
| Crown City CLO V Series 2023-5A Class C1AR† | 7.775% (3 mo. USD Term SOFR + 4.10% | )# | 4/20/2037 | 3,750,000 | 3,754,489 | |||||||
| Crown City CLO VI Series 2024-6A Class D1† | 7.173% (3 mo. USD Term SOFR + 3.50% | )# | 7/15/2037 | 2,750,000 | 2,753,630 | |||||||
| 22 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Crown Point CLO 11 Ltd. Series 2021-11A Class ER† | 9.83% (3 mo. USD Term SOFR + 6.15% | )# | 2/28/2038 | $ | 5,000,000 | $ | 4,886,825 | |||||
| CTM CLO Ltd. Series 2025-1A Class A1† | 5.173% (3 mo. USD Term SOFR + 1.50% | )# | 7/15/2038 | 10,250,000 | 10,282,872 | |||||||
| CTM CLO Ltd. Series 2025-1A Class C† | 6.023% (3 mo. USD Term SOFR + 2.35% | )# | 7/15/2038 | 13,080,000 | 13,146,577 | |||||||
| CTM CLO Ltd. Series 2025-1A Class D1† | 7.173% (3 mo. USD Term SOFR + 3.50% | )# | 7/15/2038 | 2,000,000 | 2,010,010 | |||||||
| DailyPay Securitization Trust Series 2025-1A Class A† | 5.63% | 6/26/2028 | 5,725,000 | 5,738,840 | ||||||||
| Danby Park CLO Ltd. Series 2022-1A Class B1R† | 5.372% (3 mo. USD Term SOFR + 1.70% | )# | 10/21/2037 | 1,250,000 | 1,251,865 | |||||||
| Dewolf Park CLO Ltd. Series 2017-1A Class D1R2† | 6.214% (3 mo. USD Term SOFR + 2.55% | )# | 1/22/2039 | 9,590,000 | 9,608,988 | |||||||
| Diameter Capital CLO 10 Ltd. Series 2025-10A Class B† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 4/20/2038 | 3,500,000 | 3,507,098 | |||||||
| Diameter Capital CLO 12 Ltd. Series 2025-12A Class A† | 4.915% (3 mo. USD Term SOFR + 1.24% | )# | 10/20/2038 | 8,650,000 | 8,656,358 | |||||||
| Diameter Capital CLO 2 Ltd. Series 2021-2A Class A2R† | 5.473% (3 mo. USD Term SOFR + 1.80% | )# | 10/15/2037 | 2,000,000 | 2,006,072 | |||||||
| Diameter Capital CLO 4 Ltd. Series 2022-4A Class ARR† | 4.903% (3 mo. USD Term SOFR + 1.23% | )# | 1/15/2039 | 15,360,000 | 15,368,294 | |||||||
| Diameter Capital CLO 5 Ltd. Series 2023-5A Class A1R† | 4.913% (3 mo. USD Term SOFR + 1.24% | )# | 1/15/2039 | 11,720,000 | 11,740,510 | |||||||
| Diameter Capital CLO 6 Ltd. Series 2024-6A Class A1R† | 4.953% (3 mo. USD Term SOFR + 1.28% | )# | 4/15/2039 | 10,000,000 | 10,027,500 | |||||||
| Driven Brands Funding LLC Series 2025-1A Class A2† | 5.296% | 10/20/2055 | 6,557,050 | 5,935,097 | ||||||||
| Dryden 104 CLO Ltd. Series 2022-104A Class BR† | 5.406% (3 mo. USD Term SOFR + 1.75% | )# | 8/20/2034 | 2,000,000 | 2,001,922 | |||||||
| Dryden 107 CLO Ltd. Series 2023-107A Class D1R† | 6.553% (3 mo. USD Term SOFR + 2.90% | )# | 8/15/2038 | 3,200,000 | 3,218,256 | |||||||
| Dryden 115 CLO Ltd. Series 2024-115A Class B† | 5.675% (3 mo. USD Term SOFR + 2.00% | )# | 4/18/2037 | 5,090,000 | 5,098,852 | |||||||
| See Notes to Schedule of Investments. | 23 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Dryden 53 CLO Ltd. Series 2017-53A Class BR† | 4.973% (3 mo. USD Term SOFR + 1.30% | )# | 1/15/2031 | $ | 2,070,000 | $ | 2,069,197 | |||||
| Dryden 75 CLO Ltd. Series 2019-75A Class CR2† | 5.735% (3 mo. USD Term SOFR + 2.06% | )# | 4/15/2034 | 2,250,000 | 2,241,086 | |||||||
| Dryden 80 CLO Ltd. Series 2019-80A Class CRR† | 5.53% (3 mo. USD Term SOFR + 1.85% | )# | 1/17/2033 | 9,840,000 | 9,819,690 | |||||||
| Dryden 83 CLO Ltd. Series 2020-83A Class B1R† | 5.625% (3 mo. USD Term SOFR + 1.95% | )# | 4/18/2037 | 3,355,000 | 3,360,522 | |||||||
| Dryden 83 CLO Ltd. Series 2020-83A Class D1R† | 7.375% (3 mo. USD Term SOFR + 3.70% | )# | 4/18/2037 | 1,500,000 | 1,503,258 | |||||||
| Dryden 87 CLO Ltd. Series 2021-87A Class A2R† | 5.256% (3 mo. USD Term SOFR + 1.60% | )# | 8/20/2038 | 6,250,000 | 6,263,394 | |||||||
| Dryden 90 CLO Ltd. Series 2021-90A Class D1R† | 6.653% (3 mo. USD Term SOFR + 3.00% | )# | 11/15/2038 | 2,670,000 | 2,686,818 | |||||||
| Eaton Vance CLO Ltd. Series 2019-1A Class AR2† | 5.183% (3 mo. USD Term SOFR + 1.51% | )# | 7/15/2037 | 2,500,000 | 2,503,323 | |||||||
| Elara HGV Timeshare Issuer LLC Series 2025-A Class D† | 6.91% | 1/25/2040 | 3,095,179 | 3,077,456 | ||||||||
| Eldridge CLO Ltd. Series 2025-1A Class B† | 5.325% (3 mo. USD Term SOFR + 1.65% | )# | 10/20/2038 | 1,750,000 | 1,752,298 | |||||||
| Eldridge CLO Ltd. Series 2025-2A Class A1† | 4.935% (3 mo. USD Term SOFR + 1.28% | )# | 1/20/2039 | 5,000,000 | 5,008,310 | |||||||
| Elevation CLO Ltd. Series 2025-18A Class A1† | 4.915% (3 mo. USD Term SOFR + 1.24% | )# | 3/28/2038 | 5,800,000 | 5,803,445 | |||||||
| Elevation CLO Ltd. Series 2025-18A Class A2† | 5.175% (3 mo. USD Term SOFR + 1.50% | )# | 3/28/2038 | 4,000,000 | 3,997,348 | |||||||
| Empower CLO Ltd. Series 2023-1A Class D1R† | 7.517% (3 mo. USD Term SOFR + 3.85% | )# | 4/25/2038 | 4,000,000 | 4,027,536 | |||||||
| Empower CLO Ltd. Series 2024-2A Class A1† | 5.193% (3 mo. USD Term SOFR + 1.52% | )# | 7/15/2037 | 1,000,000 | 1,001,328 | |||||||
| Empower CLO Ltd. Series 2024-2A Class E† | 9.723% (3 mo. USD Term SOFR + 6.05% | )# | 7/15/2037 | 100,000 | 98,366 | |||||||
| eStruxture Issuer LP Series 2025-1 Class A2† | 5.894% | 7/20/2055 | CAD | 17,700,000 | 12,950,299 | |||||||
| Fortress Credit BSL X Ltd. Series 2021-1A Class CR† | 5.725% (3 mo. USD Term SOFR + 2.05% | )# | 4/20/2033 | $ | 7,000,000 | 6,986,308 | ||||||
| FS Rialto Issuer LLC Series 2025-FL10 Class A† | 5.046% (1 mo. USD Term SOFR + 1.39% | )# | 8/19/2042 | 4,270,000 | 4,271,837 | |||||||
| Galaxy 31 CLO Ltd. Series 2023-31A Class DR† | 6.873% (3 mo. USD Term SOFR + 3.20% | )# | 7/15/2038 | 4,000,000 | 3,983,888 | |||||||
| Gallatin CLO X Ltd. Series 2023-1A Class C1R† | 5.969% (3 mo. USD Term SOFR + 2.30% | )# | 10/14/2036 | 3,000,000 | 3,002,571 | |||||||
| Gallatin CLO X Ltd. Series 2023-1A Class D1R† | 7.269% (3 mo. USD Term SOFR + 3.60% | )# | 10/14/2036 | 4,500,000 | 4,512,744 | |||||||
| 24 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Garnet CLO Ltd. Series 2025-1A Class A† | 5.175% (3 mo. USD Term SOFR + 1.50% | )# | 7/20/2037 | $ | 10,000,000 | $ | 10,030,150 | |||||
| Garnet CLO Ltd. Series 2025-1A Class B† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 7/20/2037 | 18,100,000 | 18,163,929 | |||||||
| Generate CLO 22 Ltd. Series 2025-22A Class E† | 9.175% (3 mo. USD Term SOFR + 5.50% | )# | 7/20/2038 | 3,000,000 | 3,021,897 | |||||||
| Generate CLO 6 Ltd. Series 6A Class AR2† | 5.064% (3 mo. USD Term SOFR + 1.40% | )# | 10/22/2037 | 1,000,000 | 1,001,543 | |||||||
| Golub Capital Partners CLO 68B Ltd. Series 2023-68A Class A2R† | 5.267% (3 mo. USD Term SOFR + 1.60% | )# | 7/25/2038 | 2,000,000 | 2,003,650 | |||||||
| Gracie Point International Funding LLC Series 2025-1A Class A† | 5.154% (30 day USD SOFR Average + 1.50% | )# | 8/15/2028 | 14,195,000 | 14,218,559 | |||||||
| GreenSky Home Improvement Issuer Trust Series 2025-1A Class A3† | 5.32% | 3/25/2060 | 6,275,000 | 6,366,692 | ||||||||
| Greywolf CLO IV Ltd. Series 2019-1A Class A2R2† | 5.48% (3 mo. USD Term SOFR + 1.80% | )# | 4/17/2034 | 5,800,000 | 5,807,389 | |||||||
| Greywolf CLO IV Ltd. Series 2019-1A Class B1R2† | 5.88% (3 mo. USD Term SOFR + 2.20% | )# | 4/17/2034 | 2,500,000 | 2,486,635 | |||||||
| Halsey Point CLO I Ltd. Series 2019-1A Class CR† | 6.025% (3 mo. USD Term SOFR + 2.35% | )# | 10/20/2037 | 1,900,000 | 1,903,422 | |||||||
| HalseyPoint CLO 3 Ltd. Series 2020-3A Class A1R† | 5.143% (3 mo. USD Term SOFR + 1.48% | )# | 7/30/2037 | 7,687,000 | 7,698,323 | |||||||
| HalseyPoint CLO 7 Ltd. Series 2023-7A Class A1R† | 5.125% (3 mo. USD Term SOFR + 1.45% | )# | 7/20/2038 | 20,000,000 | 20,059,100 | |||||||
| HalseyPoint CLO 7 Ltd. Series 2023-7A Class A2R† | 5.375% (3 mo. USD Term SOFR + 1.70% | )# | 7/20/2038 | 2,300,000 | 2,305,134 | |||||||
| Harvest U.S. CLO Ltd. Series 2024-1A Class CR† | 5.716% (3 mo. USD Term SOFR + 2.05% | )# | 4/18/2037 | 4,530,000 | 4,534,027 | |||||||
| Harvest U.S. CLO Ltd. Series 2025-2A Class D1† | 7.13% (3 mo. USD Term SOFR + 3.45% | )# | 7/17/2038 | 7,500,000 | 7,536,697 | |||||||
| Hayfin U.S. XII Ltd. Series 2020-12A Class A1R† | 4.905% (3 mo. USD Term SOFR + 1.23% | )# | 1/20/2038 | 3,220,000 | 3,221,375 | |||||||
| Hayfin U.S. XIV Ltd. Series 2021-14A Class A1R† | 4.975% (3 mo. USD Term SOFR + 1.30% | )# | 3/20/2038 | 3,800,000 | 3,805,958 | |||||||
| Hayfin U.S. XV Ltd. Series 2024-15A Class D1† | 7.93% (3 mo. USD Term SOFR + 4.26% | )# | 4/28/2037 | 5,910,000 | 5,919,899 | |||||||
| See Notes to Schedule of Investments. | 25 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| HPS Loan Management Ltd. Series 2021-16A Class BR† | 5.316% (3 mo. USD Term SOFR + 1.65% | )# | 1/23/2035 | $ | 5,900,000 | $ | 5,906,555 | |||||
| HPS Loan Management Ltd. Series 2024-19A Class E† | 10.673% (3 mo. USD Term SOFR + 7.00% | )# | 4/15/2037 | 3,110,000 | 3,110,156 | |||||||
| ICG U.S. CLO I Ltd. Series 2023-1A Class D1R† | 6.875% (3 mo. USD Term SOFR + 3.20% | )# | 7/18/2038 | 3,000,000 | 3,007,953 | |||||||
| ICG U.S. CLO I Ltd. Series 2023-1A Class ER† | 10.675% (3 mo. USD Term SOFR + 7.00% | )# | 7/18/2038 | 3,250,000 | 3,262,184 | |||||||
| ICG U.S. CLO Ltd. Series 2014-1A Class A2A3† | 5.175% (3 mo. USD Term SOFR + 1.50% | )# | 10/20/2034 | 5,000,000 | 5,004,915 | |||||||
| ICG U.S. CLO Ltd. Series 2024-1A Class A1† | 5.273% (3 mo. USD Term SOFR + 1.60% | )# | 4/15/2037 | 5,000,000 | 5,008,015 | |||||||
| ICG U.S. CLO Ltd. Series 2024-R1A Class D1† | 7.317% (3 mo. USD Term SOFR + 3.65% | )# | 1/25/2038 | 2,250,000 | 2,258,888 | |||||||
| ICG U.S. CLO Ltd. Series 2025-1A Class D1† | 6.817% (3 mo. USD Term SOFR + 3.15% | )# | 7/25/2038 | 8,250,000 | 8,275,880 | |||||||
| ICG U.S. CLO Ltd. Series 2025-2A Class D1† | 6.775% (3 mo. USD Term SOFR + 3.10% | )# | 1/18/2039 | 5,300,000 | 5,308,088 | |||||||
| Invesco CLO Ltd. Series 2022-3A Class A1R† | 5.034% (3 mo. USD Term SOFR + 1.37% | )# | 10/22/2037 | 1,750,000 | 1,754,856 | |||||||
| Invesco U.S. CLO Ltd. Series 2024-2A Class D† | 7.273% (3 mo. USD Term SOFR + 3.60% | )# | 7/15/2037 | 3,750,000 | 3,763,335 | |||||||
| Invesco U.S. CLO Ltd. Series 2024-3A Class D† | 7.225% (3 mo. USD Term SOFR + 3.55% | )# | 7/20/2037 | 3,400,000 | 3,412,872 | |||||||
| Island Finance Trust Series 2025-1A Class A† | 6.54% | 3/19/2035 | 13,649,000 | 13,745,890 | ||||||||
| Jamestown CLO XIV Ltd. Series 2019-14A Class BRR† | 5.425% (3 mo. USD Term SOFR + 1.75% | )# | 10/20/2034 | 7,770,000 | 7,667,459 | |||||||
| Katayma CLO I Ltd. Series 2023-1A Class AR† | 4.945% (3 mo. USD Term SOFR + 1.27% | )# | 1/20/2039 | 17,000,000 | 17,034,357 | |||||||
| Kennedy Lewis CLO 13 Ltd. Series 2023-13A Class A1R† | 4.815% (3 mo. USD Term SOFR + 1.14% | )# | 1/20/2038 | 14,950,000 | 14,940,208 | |||||||
| Kennedy Lewis CLO 14 Ltd. Series 2024-14A Class AR†(c) | – | (d) | 4/22/2037 | 19,850,000 | 19,855,062 | |||||||
| Kennedy Lewis CLO 2 Ltd. Series 2A Class CR2† | 5.966% (3 mo. USD Term SOFR + 2.30% | )# | 10/22/2037 | 5,250,000 | 5,261,665 | |||||||
| Kennedy Lewis CLO 22 Ltd. Series 2025-22A Class C† | 5.625% (3 mo. USD Term SOFR + 1.95% | )# | 7/20/2038 | 1,319,527 | 1,325,574 | |||||||
| Kennedy Lewis CLO 4 Ltd. Series 4A Class CRR† | 5.875% (3 mo. USD Term SOFR + 2.20% | )# | 7/20/2037 | 4,250,000 | 4,257,506 | |||||||
| KKR CLO 18 Ltd. Series 18 Class BR2† | 5.225% (3 mo. USD Term SOFR + 1.55% | )# | 10/18/2035 | 10,000,000 | 10,011,010 | |||||||
| 26 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| KKR CLO 23 Ltd. Series 23 Class CR† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 10/20/2031 | $ | 1,250,000 | $ | 1,251,268 | |||||
| KKR CLO 28 Ltd. Series 28A Class AR2† | 4.80% (3 mo. USD Term SOFR + 1.12% | )# | 2/9/2035 | 7,340,000 | 7,343,531 | |||||||
| KKR CLO 29 Ltd. Series 29A Class CR† | 6.173% (3 mo. USD Term SOFR + 2.50% | )# | 7/15/2037 | 1,000,000 | 1,002,365 | |||||||
| KKR CLO 32 Ltd. Series 32A Class CR† | 6.173% (3 mo. USD Term SOFR + 2.50% | )# | 4/15/2037 | 2,140,000 | 2,145,160 | |||||||
| KKR CLO 34 Ltd. Series 34A Class AR† | 4.773% (3 mo. USD Term SOFR + 1.10% | )# | 7/15/2034 | 1,250,000 | 1,250,938 | |||||||
| KKR CLO 36 Ltd. Series 36A Class BR† | 5.423% (3 mo. USD Term SOFR + 1.75% | )# | 10/15/2034 | 1,250,000 | 1,251,996 | |||||||
| KKR CLO 36 Ltd. Series 36A Class CR† | 5.623% (3 mo. USD Term SOFR + 1.95% | )# | 10/15/2034 | 9,120,000 | 9,082,024 | |||||||
| KKR CLO 42 Ltd. Series 42A Class CR† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 7/20/2034 | 6,100,000 | 6,078,302 | |||||||
| KKR CLO 51 Ltd. Series 2024-51A Class B† | 5.525% (3 mo. USD Term SOFR + 1.85% | )# | 10/20/2037 | 4,300,000 | 4,315,351 | |||||||
| KKR CLO 54 Ltd. Series 2024-54A Class A† | 4.993% (3 mo. USD Term SOFR + 1.32% | )# | 1/15/2038 | 4,000,000 | 4,009,252 | |||||||
| KKR CLO 61 Ltd. Series 2025-61A Class A2† | 5.493% (3 mo. USD Term SOFR + 1.82% | )# | 7/15/2037 | 5,000,000 | 5,007,310 | |||||||
| KKR CLO 61 Ltd. Series 2025-61A Class B† | 5.623% (3 mo. USD Term SOFR + 1.95% | )# | 7/15/2037 | 12,480,000 | 12,500,205 | |||||||
| KKR CLO 61 Ltd. Series 2025-61A Class D1† | 7.523% (3 mo. USD Term SOFR + 3.85% | )# | 7/15/2037 | 2,980,000 | 2,989,086 | |||||||
| KKR CLO 63 Ltd. Series 2026-63A Class A1† | 4.86% (3 mo. USD Term SOFR + 1.18% | )# | 4/20/2039 | 10,000,000 | 10,003,890 | |||||||
| Lendmark Funding Trust Series 2025-1A Class E† | 8.91% | 9/20/2034 | 5,000,000 | 5,139,790 | ||||||||
| Lendmark Funding Trust Series 2026-1A Class D†(c) | 5.90% | 11/20/2035 | 7,850,000 | 7,861,959 | ||||||||
| Madison Park Funding LXXIII Ltd. Series 2025-73A Class C† | 5.58% (3 mo. USD Term SOFR + 1.90% | )# | 10/17/2038 | 8,750,000 | 8,782,524 | |||||||
| Magnetite XXXI Ltd. Series 2021-31A Class A1R† | 4.673% (3 mo. USD Term SOFR + 1.00% | )# | 7/15/2034 | 6,475,000 | 6,467,230 | |||||||
| Man U.S. CLO Ltd. Series 2024-1A Class D1† | 7.625% (3 mo. USD Term SOFR + 3.95% | )# | 7/20/2037 | 1,500,000 | 1,505,175 | |||||||
| Man U.S. CLO Ltd. Series 2024-1A Class E† | 10.755% (3 mo. USD Term SOFR + 7.08% | )# | 7/20/2037 | 2,520,000 | 2,528,225 | |||||||
| Marble Point CLO XV Ltd. Series 2019-1A Class BR2† | 5.266% (3 mo. USD Term SOFR + 1.60% | )# | 7/23/2032 | 6,390,000 | 6,396,313 | |||||||
| Marble Point CLO XXII Ltd. Series 2021-2A Class BR† | 5.367% (3 mo. USD Term SOFR + 1.70% | )# | 7/25/2034 | 4,800,000 | 4,802,606 | |||||||
| See Notes to Schedule of Investments. | 27 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Marble Point CLO XXIV Ltd. Series 2022-1A Class A1R† | 4.765% (3 mo. USD Term SOFR + 1.09% | )# | 4/20/2035 | $ | 12,990,000 | $ | 12,983,505 | |||||
| Mariner Finance Issuance Trust Series 2024-AA Class E† | 9.02% | 9/22/2036 | 7,784,000 | 7,963,435 | ||||||||
| Mariner Finance Issuance Trust Series 2025-AA Class E† | 8.64% | 5/20/2038 | 5,750,000 | 5,894,019 | ||||||||
| Mariner Finance Issuance Trust Series 2025-BA Class D† | 5.84% | 11/22/2038 | 9,000,000 | 8,988,726 | ||||||||
| Mariner Finance Issuance Trust Series 2025-BA Class E† | 7.51% | 11/22/2038 | 10,114,000 | 10,072,416 | ||||||||
| Market Street CLO Ltd. II Series 2025-2A Class D1† | 6.925% (3 mo. USD Term SOFR + 3.25% | )# | 3/20/2038 | 3,750,000 | 3,759,210 | |||||||
| Menlo CLO I Ltd. Series 2024-1A Class A1† | 5.095% (3 mo. USD Term SOFR + 1.42% | )# | 1/20/2038 | 13,750,000 | 13,775,589 | |||||||
| MidOcean Credit CLO XV Ltd. Series 2024-15A Class B† | 5.622% (3 mo. USD Term SOFR + 1.95% | )# | 7/21/2037 | 1,000,000 | 1,001,194 | |||||||
| MidOcean Credit CLO XV Ltd. Series 2024-15A Class E† | 9.922% (3 mo. USD Term SOFR + 6.25% | )# | 7/21/2037 | 2,750,000 | 2,757,329 | |||||||
| Morgan Stanley Eaton Vance CLO Ltd. Series 2023-19A Class A2R† | 5.323% (3 mo. USD Term SOFR + 1.65% | )# | 7/15/2038 | 1,500,000 | 1,502,792 | |||||||
| Mountain View CLO XVI Ltd. Series 2022-1A Class D1RR† | 7.363% (3 mo. USD Term SOFR + 3.69% | )# | 3/15/2038 | 2,450,000 | 2,461,089 | |||||||
| Mountain View CLO XVIII Ltd. Series 2024-1A Class D1† | 7.33% (3 mo. USD Term SOFR + 3.65% | )# | 10/16/2037 | 5,400,000 | 5,418,905 | |||||||
| Navesink CLO 1 Ltd. Series 2023-1A Class A1R† | 5.347% (3 mo. USD Term SOFR + 1.68% | )# | 7/25/2033 | 4,000,000 | 4,003,304 | |||||||
| Navesink CLO 2 Ltd. Series 2024-2A Class A1R† | 4.863% (3 mo. USD Term SOFR + 1.19% | )# | 1/15/2036 | 8,700,000 | 8,691,674 | |||||||
| Navesink CLO 2 Ltd. Series 2024-2A Class D1R† | 7.323% (3 mo. USD Term SOFR + 3.65% | )# | 1/15/2036 | 5,450,000 | 5,478,002 | |||||||
| Navesink CLO 3 Ltd. Series 2025-3A Class A1† | 5.153% (3 mo. USD Term SOFR + 1.48% | )# | 7/15/2037 | 5,630,000 | 5,635,928 | |||||||
| Navesink CLO 3 Ltd. Series 2025-3A Class C1† | 5.973% (3 mo. USD Term SOFR + 2.30% | )# | 7/15/2037 | 5,400,000 | 5,404,379 | |||||||
| Navesink CLO 5 Ltd. Series 2026-5A Class D1† | 6.757% (3 mo. USD Term SOFR + 3.05% | )# | 3/31/2039 | 4,250,000 | 4,258,479 | |||||||
| Neuberger Berman CLO 32R Ltd. Series 2019- 32RA Class A† | 4.985% (3 mo. USD Term SOFR + 1.31% | )# | 7/20/2039 | 26,000,000 | 26,058,084 | |||||||
| Neuberger Berman Loan Advisers CLO 50 Ltd. Series 2022-50A Class AR2† | 4.706% (3 mo. USD Term SOFR + 1.04% | )# | 7/23/2036 | 4,750,000 | 4,741,602 | |||||||
| 28 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Neuberger Berman Loan Advisers CLO 55 Ltd. Series 2024-55A Class A2† | 5.364% (3 mo. USD Term SOFR + 1.70% | )# | 4/22/2038 | $ | 14,000,000 | $ | 14,018,662 | |||||
| NGC CLO 2 Ltd. Series 2025-2A Class C1† | 5.875% (3 mo. USD Term SOFR + 2.20% | )# | 4/20/2038 | 7,000,000 | 7,022,575 | |||||||
| NGC CLO 2 Ltd. Series 2025-2A Class D1† | 7.225% (3 mo. USD Term SOFR + 3.55% | )# | 4/20/2038 | 5,700,000 | 5,682,136 | |||||||
| NGC Ltd. Series 2024-1A Class D1† | 7.875% (3 mo. USD Term SOFR + 4.20% | )# | 7/20/2037 | 8,000,000 | 8,032,072 | |||||||
| Oaktree CLO Ltd. Series 2021-2A Class D2R† | 7.173% (3 mo. USD Term SOFR + 3.50% | )# | 1/15/2035 | 2,000,000 | 1,955,668 | |||||||
| Oaktree CLO Ltd. Series 2022-3A Class ER† | 10.173% (3 mo. USD Term SOFR + 6.50% | )# | 10/15/2037 | 2,500,000 | 2,507,915 | |||||||
| Obra CLO 4 Ltd. Series 2026-4A Class D†(c) | – | (d) | 7/20/2039 | 4,000,000 | 4,004,832 | |||||||
| Ocean Trails CLO XIV Ltd. Series 2023-14A Class CR† | 5.675% (3 mo. USD Term SOFR + 2.00% | )# | 1/20/2038 | 4,900,000 | 4,902,876 | |||||||
| Ocean Trails CLO XV Ltd. Series 2024-15A Class D1R† | 6.923% (3 mo. USD Term SOFR + 3.25% | )# | 1/15/2039 | 3,925,000 | 3,916,565 | |||||||
| Ocean Trails CLO XV Ltd. Series 2024-15A Class D2R† | 8.073% (3 mo. USD Term SOFR + 4.40% | )# | 1/15/2039 | 1,000,000 | 995,917 | |||||||
| Ocean Trails CLO XVII Ltd. Series 2025-17A Class D1† | 6.775% (3 mo. USD Term SOFR + 3.10% | )# | 3/20/2038 | 3,050,000 | 3,060,965 | |||||||
| OCP CLO Ltd. Series 2019-17A Class BR2† | 5.425% (3 mo. USD Term SOFR + 1.75% | )# | 7/20/2037 | 1,750,000 | 1,752,247 | |||||||
| OCP CLO Ltd. Series 2024-32A Class E† | 10.426% (3 mo. USD Term SOFR + 6.76% | )# | 4/23/2037 | 2,500,000 | 2,508,723 | |||||||
| OCP CLO Ltd. Series 2024-33A Class A2† | 5.375% (3 mo. USD Term SOFR + 1.70% | )# | 7/20/2037 | 12,000,000 | 12,015,252 | |||||||
| OFSI BSL CLO XIII Ltd. Series 2024-13A Class D1† | 8.175% (3 mo. USD Term SOFR + 4.50% | )# | 4/20/2037 | 5,000,000 | 5,017,200 | |||||||
| OFSI BSL XIV CLO Ltd. Series 2024-14A Class D1† | 7.518% (3 mo. USD Term SOFR + 3.85% | )# | 7/20/2037 | 3,750,000 | 3,755,025 | |||||||
| OFSI BSL XV CLO Ltd. Series 2025-15A Class D1† | 7.425% (3 mo. USD Term SOFR + 3.75% | )# | 3/31/2038 | 10,000,000 | 10,047,300 | |||||||
| OHA Credit Funding 18 Ltd. Series 2024-18A Class A1† | 5.175% (3 mo. USD Term SOFR + 1.50% | )# | 4/20/2037 | 10,300,000 | 10,316,027 | |||||||
| OHA Credit Funding 18 Ltd. Series 2024-18A Class D1† | 7.125% (3 mo. USD Term SOFR + 3.45% | )# | 4/20/2037 | 1,760,000 | 1,763,604 | |||||||
| See Notes to Schedule of Investments. | 29 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| OHA Credit Partners XVII Ltd. Series 2024-17A Class A† | 4.995% (3 mo. USD Term SOFR + 1.32% | )# | 1/18/2038 | $ | 3,423,000 | $ | 3,428,111 | |||||
| OneMain Financial Issuance Trust Series 2022-S1 Class C† | 4.56% | 5/14/2035 | 5,765,000 | 5,753,396 | ||||||||
| OneMain Financial Issuance Trust Series 2023-1A Class A† | 5.50% | 6/14/2038 | 8,383,000 | 8,557,854 | ||||||||
| Orion CLO Ltd. Series 2026-7A Class A1† | 4.906% (3 mo. USD Term SOFR + 1.15% | )# | 4/20/2039 | 10,000,000 | 9,972,560 | |||||||
| Orion CLO Ltd. Series 2026-7A Class D1† | 6.506% (3 mo. USD Term SOFR + 2.75% | )# | 4/20/2039 | 2,600,000 | 2,606,864 | |||||||
| Orion CLO Ltd. Series 2026-7A Class E† | 9.006% (3 mo. USD Term SOFR + 5.25% | )# | 4/20/2039 | 2,000,000 | 2,013,774 | |||||||
| OWN Equipment Fund I LLC Series 2024-2M Class A† | 5.70% | 12/20/2032 | 5,380,617 | 5,410,850 | ||||||||
| OWN Equipment Fund I LLC Series 2024-2M Class B† | 6.43% | 12/20/2032 | 1,516,735 | 1,525,027 | ||||||||
| Pagaya AI Debt Trust Series 2025-REV1 Class A† | 5.011% | 8/15/2035 | 15,025,000 | 14,939,580 | ||||||||
| Pagaya Point of Sale Holdings Grantor Trust Series 2025-1 Class A† | 5.715% | 1/20/2034 | 6,950,000 | 6,973,883 | ||||||||
| Palmer Square CLO Ltd. Series 2018-2A Class BR† | 6.18% (3 mo. USD Term SOFR + 2.50% | )# | 4/16/2037 | 5,000,000 | 5,009,115 | |||||||
| Palmer Square CLO Ltd. Series 2021-2A Class AR2† | 5.173% (3 mo. USD Term SOFR + 1.50% | )# | 2/15/2038 | 2,400,000 | 2,403,094 | |||||||
| Palmer Square CLO Ltd. Series 2022-5A Class A1R† | 5.025% (3 mo. USD Term SOFR + 1.35% | )# | 10/20/2037 | 1,500,000 | 1,502,078 | |||||||
| Parallel Ltd. Series 2023-1A Class A1R† | 5.065% (3 mo. USD Term SOFR + 1.39% | )# | 7/20/2036 | 5,720,000 | 5,727,762 | |||||||
| Park Blue CLO Ltd. Series 2022-1A Class A1R† | 5.095% (3 mo. USD Term SOFR + 1.42% | )# | 10/20/2037 | 9,050,000 | 9,080,127 | |||||||
| Park Blue CLO Ltd. Series 2023-3A Class A1R† | 5.155% (3 mo. USD Term SOFR + 1.48% | )# | 4/20/2037 | 4,000,000 | 4,010,968 | |||||||
| Park Blue CLO Ltd. Series 2023-3A Class D1R† | 7.175% (3 mo. USD Term SOFR + 3.50% | )# | 4/20/2038 | 12,250,000 | 12,242,405 | |||||||
| Pikes Peak CLO 16 Ltd. Series 2024-16A Class A1† | 5.127% (3 mo. USD Term SOFR + 1.46% | )# | 7/25/2037 | 1,900,000 | 1,902,320 | |||||||
| Pikes Peak CLO 3 Series 2019-3A Class ARR† | 5.128% (3 mo. USD Term SOFR + 1.46% | )# | 10/25/2034 | 1,900,000 | 1,902,257 | |||||||
| 30 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| POLUS U.S. CLO I Ltd. Series 2024-1A Class C† | 6.075% (3 mo. USD Term SOFR + 2.40% | )# | 10/20/2037 | $ | 2,800,000 | $ | 2,807,448 | |||||
| Polus U.S. CLO II Ltd. Series 2024-1A Class E† | 11.015% (3 mo. USD Term SOFR + 7.34% | )# | 10/20/2037 | 2,000,000 | 2,002,056 | |||||||
| Post CLO Ltd. Series 2018-1A Class ER† | 11.36% (3 mo. USD Term SOFR + 7.68% | )# | 10/16/2037 | 1,000,000 | 1,003,182 | |||||||
| Post CLO Ltd. Series 2021-1A Class BR† | 5.273% (3 mo. USD Term SOFR + 1.60% | )# | 10/15/2034 | 10,000,000 | 10,008,430 | |||||||
| Post CLO Ltd. Series 2022-1A Class AR† | 4.775% (3 mo. USD Term SOFR + 1.10% | )# | 4/20/2035 | 6,240,000 | 6,239,969 | |||||||
| Post CLO Ltd. Series 2024-1A Class B† | 5.775% (3 mo. USD Term SOFR + 2.10% | )# | 4/20/2037 | 5,000,000 | 5,010,180 | |||||||
| Post CLO Ltd. Series 2024-1A Class C† | 6.175% (3 mo. USD Term SOFR + 2.50% | )# | 4/20/2037 | 5,000,000 | 5,015,415 | |||||||
| Post CLO VI Ltd. Series 2024-2A Class C† | 5.775% (3 mo. USD Term SOFR + 2.10% | )# | 1/20/2038 | 1,000,000 | 1,003,305 | |||||||
| Post Road Equipment Finance LLC Series 2025-1A Class E† | 7.08% | 5/17/2032 | 5,350,000 | 5,387,184 | ||||||||
| Post Road Equipment Finance LLC Series 2026-1A Class D† | 5.51% | 10/17/2033 | 5,125,000 | 5,131,415 | ||||||||
| Post Road Equipment Finance LLC Series 2026-1A Class E† | 7.70% | 1/17/2034 | 4,425,000 | 4,508,405 | ||||||||
| PPM CLO 3 Ltd. Series 2019-3A Class A1R2† | 4.80% (3 mo. USD Term SOFR + 1.12% | )# | 7/17/2034 | 1,400,000 | 1,400,675 | |||||||
| Rad CLO 16 Ltd. Series 2022-16A Class A1R† | 5.223% (3 mo. USD Term SOFR + 1.55% | )# | 7/15/2037 | 5,000,000 | 5,008,020 | |||||||
| Rad CLO 6 Ltd. Series 2019-6A Class A1R† | 5.065% (3 mo. USD Term SOFR + 1.39% | )# | 10/20/2037 | 2,630,000 | 2,634,019 | |||||||
| Reach ABS Trust Series 2025-1A Class A† | 4.96% | 8/16/2032 | 365,065 | 365,720 | ||||||||
| Recette CLO Ltd. Series 2015-1A Class AR3† | 4.705% (3 mo. USD Term SOFR + 1.03% | )# | 4/20/2034 | 5,000,000 | 5,000,855 | |||||||
| Regatta 32 Funding Ltd. Series 2025-4A Class A1† | 5.007% (3 mo. USD Term SOFR + 1.34% | )# | 7/25/2038 | 5,000,000 | 5,018,350 | |||||||
| Regatta XXI Funding Ltd. Series 2021-3A Class BR† | 5.423% (3 mo. USD Term SOFR + 1.75% | )# | 10/15/2037 | 1,500,000 | 1,506,324 | |||||||
| Republic Finance Issuance Trust Series 2024-A Class D† | 9.49% | 8/20/2032 | 6,200,000 | 6,257,840 | ||||||||
| Republic Finance Issuance Trust Series 2024-B Class C† | 6.60% | 11/20/2037 | 2,000,000 | 2,026,522 | ||||||||
| See Notes to Schedule of Investments. | 31 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Republic Finance Issuance Trust Series 2024-B Class D† | 8.83% | 11/20/2037 | $ | 10,115,000 | $ | 10,349,053 | ||||||
| Republic Finance Issuance Trust Series 2025-A Class B† | 4.97% | 11/20/2034 | 8,500,000 | 8,481,853 | ||||||||
| Republic Finance Issuance Trust Series 2026-A Class D† | 6.16% | 6/20/2039 | 4,000,000 | 4,018,624 | ||||||||
| Riserva CLO Ltd. Series 2016-3A Class AR3† | 4.725% (3 mo. USD Term SOFR + 1.05% | )# | 1/18/2034 | 1,189,863 | 1,190,879 | |||||||
| Rockford Tower CLO Ltd. Series 2021-3A Class CBR† | 5.873% (3 mo. USD Term SOFR + 2.20% | )# | 1/15/2038 | 2,250,000 | 2,257,616 | |||||||
| Romark CLO - IV Ltd. Series 2021-4A Class A1R† | 4.819% (3 mo. USD Term SOFR + 1.14% | )# | 7/10/2034 | 5,100,000 | 5,101,525 | |||||||
| Rowe CLO Ltd. Series 2026-1A Class A2† | 5.131% (3 mo. USD Term SOFR + 1.45% | )# | 4/20/2039 | 3,000,000 | 3,001,116 | |||||||
| Rowe CLO Ltd. Series 2026-1A Class C† | 5.581% (3 mo. USD Term SOFR + 1.90% | )# | 4/20/2039 | 3,000,000 | 3,014,409 | |||||||
| RR 34 Ltd. Series 2024-34RA Class DR† | 9.173% (3 mo. USD Term SOFR + 5.50% | )# | 10/15/2039 | 1,000,000 | 1,003,813 | |||||||
| RR 44 Ltd. Series 2026-44A Class A1A† | 4.842% (3 mo. USD Term SOFR + 1.17% | )# | 4/15/2041 | 2,000,000 | 2,002,848 | |||||||
| RR 5 Ltd. Series 2018-5A Class A1R† | 5.173% (3 mo. USD Term SOFR + 1.50% | )# | 7/15/2039 | 1,000,000 | 1,001,421 | |||||||
| Sagard-Halseypoint CLO 8 Ltd. Series 2024-8A Class D2† | 7.663% (3 mo. USD Term SOFR + 4.00% | )# | 1/30/2038 | 5,625,000 | 5,477,310 | |||||||
| Sagard-Halseypoint CLO 9 Ltd. Series 2025-9A Class B† | 5.575% (3 mo. USD Term SOFR + 1.90% | )# | 4/20/2038 | 3,000,000 | 3,013,446 | |||||||
| Sagard-Halseypoint CLO 9 Ltd. Series 2025-9A Class C1† | 5.825% (3 mo. USD Term SOFR + 2.15% | )# | 4/20/2038 | 1,000,000 | 1,003,352 | |||||||
| Sandstone Peak II Ltd. Series 2023-1A Class A1R† | 5.085% (3 mo. USD Term SOFR + 1.41% | )# | 7/20/2038 | 10,000,000 | 10,025,250 | |||||||
| Sandstone Peak II Ltd. Series 2023-1A Class D1R† | 6.975% (3 mo. USD Term SOFR + 3.30% | )# | 7/20/2038 | 5,000,000 | 4,976,940 | |||||||
| Sandstone Peak III Ltd. Series 2024-1A Class A1† | 5.297% (3 mo. USD Term SOFR + 1.63% | )# | 4/25/2037 | 3,500,000 | 3,500,175 | |||||||
| 32 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Sandstone Peak III Ltd. Series 2024-1A Class A1R†(c) | – | (d) | 4/25/2037 | $ | 4,900,000 | $ | 4,901,249 | |||||
| Sandstone Peak III Ltd. Series 2024-1A Class D1† | 7.517% (3 mo. USD Term SOFR + 3.85% | )# | 4/25/2037 | 1,780,000 | 1,780,089 | |||||||
| Sandstone Peak III Ltd. Series 2024-1A Class D1R†(c) | – | (d) | 4/25/2037 | 5,400,000 | 5,410,611 | |||||||
| Saratoga Investment Corp. Senior Loan Fund Ltd. Series 2022-1A Class BR† | 5.675% (3 mo. USD Term SOFR + 2.00% | )# | 10/20/2037 | 3,000,000 | 3,004,236 | |||||||
| Saratoga Investment Corp. Senior Loan Fund Ltd. Series 2022-1A Class CR† | 6.075% (3 mo. USD Term SOFR + 2.40% | )# | 10/20/2037 | 5,750,000 | 5,750,707 | |||||||
| Saratoga Investment Corp. Senior Loan Fund Ltd. Series 2022-1A Class D1R† | 7.325% (3 mo. USD Term SOFR + 3.65% | )# | 10/20/2037 | 2,750,000 | 2,707,829 | |||||||
| SCF Equipment Trust LLC Series 2025-1A Class E† | 6.75% | 11/20/2035 | 3,200,000 | 3,313,572 | ||||||||
| Sculptor CLO XXXVI Ltd. Series 36A Class C† | 5.566% (3 mo. USD Term SOFR + 1.90% | )# | 1/30/2039 | 1,200,000 | 1,203,144 | |||||||
| SEB Funding LLC Series 2026-1A Class A2† | 6.665% | 1/30/2056 | 7,605,937 | 7,560,705 | ||||||||
| Shackleton CLO Ltd. Series 2019-14A Class A1RR† | 4.875% (3 mo. USD Term SOFR + 1.20% | )# | 7/20/2034 | 2,800,000 | 2,800,344 | |||||||
| Sierra Timeshare Receivables Funding LLC Series 2024-3A Class D† | 6.93% | 8/20/2041 | 1,445,071 | 1,451,440 | ||||||||
| Signal Peak CLO 5 Ltd. Series 2018-5A Class A1R† | 5.217% (3 mo. USD Term SOFR + 1.55% | )# | 4/25/2037 | 4,600,000 | 4,607,829 | |||||||
| Signal Peak CLO 7 Ltd. Series 2019-1A Class CR† | 5.825% (3 mo. USD Term SOFR + 2.15% | )# | 10/20/2037 | 3,500,000 | 3,508,071 | |||||||
| Silver Point CLO 10 Ltd. Series 2025-10A Class A1† | 5.123% (3 mo. USD Term SOFR + 1.45% | )# | 7/15/2038 | 5,135,000 | 5,149,666 | |||||||
| Silver Point CLO 10 Ltd. Series 2025-10A Class B† | 5.473% (3 mo. USD Term SOFR + 1.80% | )# | 7/15/2038 | 4,500,000 | 4,512,685 | |||||||
| Silver Point CLO 6 Ltd. Series 2024-6A Class E† | 9.973% (3 mo. USD Term SOFR + 6.30% | )# | 10/15/2037 | 3,550,000 | 3,255,929 | |||||||
| Silver Point CLO 9 Ltd. Series 2025-9A Class A1† | 5.193% (3 mo. USD Term SOFR + 1.52% | )# | 3/31/2038 | 11,500,000 | 11,539,019 | |||||||
| See Notes to Schedule of Investments. | 33 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Sixth Street CLO VIII Ltd. Series 2017-8A Class BR2† | 5.475% (3 mo. USD Term SOFR + 1.80% | )# | 10/20/2034 | $ | 2,380,950 | $ | 2,382,793 | |||||
| Sixth Street CLO XV Ltd. Series 2020-15A Class AR† | 5.037% (3 mo. USD Term SOFR + 1.37% | )# | 10/24/2037 | 1,500,000 | 1,502,133 | |||||||
| Sixth Street CLO XXI Ltd. Series 2022-21A Class AR† | 5.042% (3 mo. USD Term SOFR + 1.37% | )# | 10/21/2037 | 1,500,000 | 1,502,195 | |||||||
| Sona U.S. CLO 1 Ltd. Series 2026-1A Class B†(c) | – | (d) | 4/25/2039 | 6,740,000 | 6,743,727 | |||||||
| Sotheby’s Artfi Master Trust Series 2026-1A Class A2† | 4.921% (3 mo. USD Term SOFR + 1.25% | )# | 6/20/2033 | 22,775,000 | 22,813,344 | |||||||
| Steele Creek CLO Ltd. Series 2022-1A Class C2R† | 6.673% (3 mo. USD Term SOFR + 3.00% | )# | 4/15/2038 | 11,000,000 | 11,102,058 | |||||||
| Stream Innovations Issuer Trust Series 2024-2A Class A† | 5.21% | 2/15/2045 | 4,022,841 | 4,043,205 | ||||||||
| Stream Innovations Issuer Trust Series 2025-1A Class A† | 5.05% | 9/15/2045 | 4,282,238 | 4,290,121 | ||||||||
| Stream Innovations Issuer Trust Series 2026-1A Class A† | 4.78% | 8/15/2046 | 5,641,704 | 5,589,422 | ||||||||
| Sunbit Asset Securitization Trust Series 2025-1 Class A† | 5.36% | 7/15/2030 | 13,900,000 | 13,912,324 | ||||||||
| Sycamore Tree CLO Ltd. Series 2021-1A Class AR† | 5.065% (3 mo. USD Term SOFR + 1.39% | )# | 1/20/2038 | 5,550,000 | 5,570,230 | |||||||
| Sycamore Tree CLO Ltd. Series 2023-3A Class BR† | 5.825% (3 mo. USD Term SOFR + 2.15% | )# | 4/20/2037 | 7,410,000 | 7,423,679 | |||||||
| Sycamore Tree CLO Ltd. Series 2025-7A Class E† | 9.175% (3 mo. USD Term SOFR + 5.50% | )# | 8/28/2038 | 2,500,000 | 2,488,708 | |||||||
| Symetra CLO Ltd. Series 2025-1A Class A1† | 4.965% (3 mo. USD Term SOFR + 1.29% | )# | 4/20/2038 | 8,765,000 | 8,774,387 | |||||||
| Thayer Park CLO Ltd. Series 2017-1A Class A1RR† | 4.675% (3 mo. USD Term SOFR + 1.00% | )# | 4/20/2034 | 10,000,000 | 9,998,450 | |||||||
| Tikehau U.S. CLO III Ltd. Series 2022-2A Class C1R† | 6.875% (3 mo. USD Term SOFR + 3.20% | )# | 1/20/2036 | 5,450,000 | 5,456,507 | |||||||
| 34 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Tikehau U.S. CLO IV Ltd. Series 2023-1A Class C1R† | 5.973% (3 mo. USD Term SOFR + 2.30% | )# | 3/15/2038 | $ | 7,750,000 | $ | 7,788,750 | |||||
| Tikehau U.S. CLO VII Ltd. Series 2025-1A Class C† | 5.667% (3 mo. USD Term SOFR + 2.00% | )# | 2/25/2038 | 4,750,000 | 4,763,024 | |||||||
| Tikehau U.S. CLO VIII Ltd. Series 2026-1A Class A1†(c) | 4.936% (3 mo. USD Term SOFR + 1.26% | )# | 4/23/2039 | 12,600,000 | 12,616,178 | |||||||
| Tikehau U.S. CLO VIII Ltd. Series 2026-1A Class C1†(c) | 6.126% (3 mo. USD Term SOFR + 2.45% | )# | 4/23/2039 | 270,000 | 270,045 | |||||||
| TPG CLO Ltd. Series 2025-1A Class D1† | 7.023% (3 mo. USD Term SOFR + 3.35% | )# | 7/15/2038 | 5,550,000 | 5,560,734 | |||||||
| Trestles CLO II Ltd. Series 2018-2A Class B2R† | 5.817% (3 mo. USD Term SOFR + 2.15% | )# | 7/25/2037 | 2,000,000 | 2,003,312 | |||||||
| Trestles CLO V Ltd. Series 2021-5A Class CR† | 5.925% (3 mo. USD Term SOFR + 2.25% | )# | 10/20/2034 | 9,250,000 | 9,248,733 | |||||||
| Trinitas CLO XIV Ltd. Series 2020-14A Class CR2† | 5.767% (3 mo. USD Term SOFR + 2.10% | )# | 1/25/2034 | 1,700,000 | 1,701,676 | |||||||
| Trinitas CLO XVI Ltd. Series 2021-16A Class B1R† | 5.375% (3 mo. USD Term SOFR + 1.70% | )# | 7/20/2034 | 4,500,000 | 4,502,596 | |||||||
| Trinitas CLO XX Ltd. Series 2022-20A Class A1R† | 4.715% (3 mo. USD Term SOFR + 1.04% | )# | 7/20/2035 | 2,050,000 | 2,050,533 | |||||||
| Trinitas CLO XXIV Ltd. Series 2024-24A Class C† | 6.417% (3 mo. USD Term SOFR + 2.75% | )# | 4/25/2037 | 9,450,000 | 9,482,621 | |||||||
| Trinitas CLO XXIX Ltd. Series 2024-29A Class A1† | 5.156% (3 mo. USD Term SOFR + 1.49% | )# | 7/23/2037 | 3,240,000 | 3,244,196 | |||||||
| Trinitas CLO XXIX Ltd. Series 2024-29A Class C† | 6.016% (3 mo. USD Term SOFR + 2.35% | )# | 7/23/2037 | 4,530,000 | 4,539,182 | |||||||
| Trinitas CLO XXVI Ltd. Series 2023-26A Class C1R† | 6.075% (3 mo. USD Term SOFR + 2.40% | )# | 7/20/2038 | 12,750,000 | 12,806,393 | |||||||
| Trinitas CLO XXVI Ltd. Series 2023-26A Class DR† | 7.375% (3 mo. USD Term SOFR + 3.70% | )# | 7/20/2038 | 1,750,000 | 1,753,411 | |||||||
| See Notes to Schedule of Investments. | 35 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Trinitas CLO XXVI Ltd. Series 2023-26A Class ER† | 10.425% (3 mo. USD Term SOFR + 6.75% | )# | 7/20/2038 | $ | 2,500,000 | $ | 2,509,350 | |||||
| Trinitas CLO XXXIV Ltd. Series 2025-34A Class D1† | 7.664% (3 mo. USD Term SOFR + 4.00% | )# | 4/22/2038 | 250,000 | 251,958 | |||||||
| Verdant Receivables LLC Series 2025-1A Class D† | 6.49% | 5/12/2033 | 2,750,000 | 2,812,695 | ||||||||
| VFI ABS LLC Series 2025-1A Class A† | 4.78% | 6/24/2030 | 6,198,745 | 6,214,292 | ||||||||
| Vibrant CLO IX-R Ltd. Series 2018-9RA Class C1† | 5.495% (3 mo. USD Term SOFR + 1.82% | )# | 4/20/2037 | 1,353,000 | 1,336,878 | |||||||
| Vibrant CLO XII Ltd. Series 2021-12A Class A1A2† | 4.825% (3 mo. USD Term SOFR + 1.15% | )# | 4/20/2034 | 1,000,000 | 1,000,431 | |||||||
| Vibrant CLO XR Ltd. Series 2018-10RA Class C1† | 8.675% (3 mo. USD Term SOFR + 5.00% | )# | 4/20/2036 | 2,920,000 | 2,939,199 | |||||||
| Vibrant CLO XVI Ltd. Series 2023-16A Class C1R† | 7.273% (3 mo. USD Term SOFR + 3.60% | )# | 7/15/2036 | 5,250,000 | 5,259,796 | |||||||
| Voya CLO Ltd. Series 2015-3A Class A3R4† | 5.125% (3 mo. USD Term SOFR + 1.45% | )# | 10/20/2031 | 4,055,000 | 4,058,990 | |||||||
| Voya CLO Ltd. Series 2015-3A Class BR4† | 5.475% (3 mo. USD Term SOFR + 1.80% | )# | 10/20/2031 | 18,000,000 | 18,015,714 | |||||||
| Voya CLO Ltd. Series 2024-1A Class E† | 10.323% (3 mo. USD Term SOFR + 6.65% | )# | 4/15/2037 | 3,000,000 | 3,013,188 | |||||||
| Voya CLO Ltd. Series 2024-5A Class C† | 5.673% (3 mo. USD Term SOFR + 2.00% | )# | 10/15/2037 | 1,050,000 | 1,052,533 | |||||||
| Warwick Capital CLO 5 Ltd. Series 2024-5A Class A1† | 5.035% (3 mo. USD Term SOFR + 1.36% | )# | 1/20/2038 | 3,000,000 | 3,004,221 | |||||||
| Warwick Capital CLO 7 Ltd. Series 2025-7A Class SUB† | Zero coupon | #(b) | 10/21/2038 | 2,000,000 | 1,515,078 | |||||||
| Wellfleet CLO Ltd. Series 2021-2A Class CR† | 5.873% (3 mo. USD Term SOFR + 2.20% | )# | 7/15/2034 | 13,900,000 | 13,916,958 | |||||||
| Whitebox CLO I Ltd. Series 2019-1A Class A1R3† | 4.847% (3 mo. USD Term SOFR + 1.18% | )# | 1/24/2037 | 10,565,000 | 10,568,412 | |||||||
| Whitebox CLO III Ltd. Series 2021-3A Class A1R† | 4.943% (3 mo. USD Term SOFR + 1.27% | )# | 10/15/2035 | 9,320,000 | 9,326,412 | |||||||
| 36 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Other (continued) | ||||||||||||
| Whitebox CLO IV Ltd. Series 2023-4A Class A2R† | 5.475% (3 mo. USD Term SOFR + 1.80% | )# | 4/20/2036 | $ | 16,000,000 | $ | 16,022,576 | |||||
| Wind River CLO Ltd. Series 2021-4A Class AR† | 4.902% (3 mo. USD Term SOFR + 1.23% | )# | 1/20/2035 | 19,050,000 | 19,055,086 | |||||||
| Wind River CLO Ltd. Series 2022-1A Class AR† | 5.025% (3 mo. USD Term SOFR + 1.35% | )# | 7/20/2035 | 6,300,000 | 6,305,046 | |||||||
| Wind River CLO Ltd. Series 2023-1A Class D1R† | 7.067% (3 mo. USD Term SOFR + 3.40% | )# | 7/25/2038 | 1,700,000 | 1,703,949 | |||||||
| Wind River CLO Ltd. Series 2024-1A Class A† | 5.275% (3 mo. USD Term SOFR + 1.60% | )# | 4/20/2037 | 10,000,000 | 10,000,500 | |||||||
| Wise CLO Ltd. Series 2025-2A Class C† | 5.975% (3 mo. USD Term SOFR + 2.30% | )# | 4/20/2038 | 7,000,000 | 7,035,889 | |||||||
| Zais CLO 17 Ltd. Series 2021-17A Class A1R† | 5.225% (3 mo. USD Term SOFR + 1.55% | )# | 10/20/2037 | 3,900,000 | 3,907,636 | |||||||
| Zais CLO 18 Ltd. Series 2022-18A Class A1R† | 4.987% (3 mo. USD Term SOFR + 1.32% | )# | 10/25/2037 | 4,750,000 | 4,753,581 | |||||||
| Zaxbys Funding LLC Series 2021-1A Class A2† | 3.238% | 7/30/2051 | 6,356,985 | 6,063,858 | ||||||||
| Total | 2,263,603,952 | |||||||||||
| Student Loan 0.07% | ||||||||||||
| Bayview Opportunity Master Fund VII LLC Series 2024-EDU1 Class B† | 5.245% (30 day USD SOFR Average + 1.60% | )# | 6/25/2047 | 2,649,580 | 2,663,654 | |||||||
| Total Asset-Backed Securities (cost $2,694,805,768) | 2,689,763,788 | |||||||||||
| CORPORATE BONDS 7.70% | ||||||||||||
| Auto Manufacturers 0.68% | ||||||||||||
| Ford Motor Credit Co. LLC | 5.681% (SOFR + 2.03% | )# | 3/20/2028 | 3,000,000 | 3,025,988 | |||||||
| General Motors Financial Co., Inc. | 4.939% (SOFR + 1.29% | )# | 1/7/2030 | 10,000,000 | 10,026,477 | |||||||
| Hyundai Capital America† | 5.002% (SOFR + 1.35% | )# | 3/27/2030 | 9,000,000 | 9,089,120 | |||||||
| Nissan Motor Acceptance Co. LLC† | 5.703% (SOFR + 2.05% | )# | 9/13/2027 | 5,416,000 | 5,379,291 | |||||||
| Total | 27,520,876 | |||||||||||
| See Notes to Schedule of Investments. | 37 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Banks 4.27% | ||||||||||||
| ABN AMRO Bank NV (Netherlands)†(e) | 5.432% (SOFR + 1.78% | )# | 9/18/2027 | $ | 700,000 | $ | 703,277 | |||||
| ANZ New Zealand International Ltd. (United Kingdom)†(e) | 4.407% (SOFR + 0.75% | )# | 1/22/2031 | 6,667,000 | 6,670,102 | |||||||
| Australia & New Zealand Banking Group Ltd. (Australia)†(e) | 4.248% (SOFR + 0.59% | )# | 12/8/2028 | 2,493,000 | 2,500,208 | |||||||
| Bank of Montreal (Canada)(e) | 4.534% (SOFR + 0.88% | )# | 9/10/2027 | 1,000,000 | 1,001,475 | |||||||
| Bank of Nova Scotia (Canada)(e) | 4.727% (SOFR + 1.08% | )# | 8/1/2029 | 1,570,000 | 1,584,763 | |||||||
| BPCE SA (France)†(e) | 5.629% (SOFR + 1.98% | )# | 10/19/2027 | 250,000 | 251,673 | |||||||
| Canadian Imperial Bank of Commerce (Canada)(e) | 4.583% (SOFR + 0.93% | )# | 9/11/2027 | 938,000 | 939,477 | |||||||
| Citibank NA | 4.775% (SOFR + 1.12% | )# | 5/29/2030 | 6,481,000 | 6,538,259 | |||||||
| Citigroup, Inc. | 4.481% (3 mo. USD Term SOFR + 0.81% | )# | 8/25/2036 | 10,696,000 | 9,827,045 | |||||||
| Citigroup, Inc. | 4.824% (SOFR + 1.17% | )# | 9/11/2031 | 9,250,000 | 9,298,784 | |||||||
| Deutsche Bank AG(f) | 4.967% (SOFR + 1.30% | )# | 8/4/2031 | 4,703,000 | 4,704,445 | |||||||
| Goldman Sachs Group, Inc. | 4.728% (SOFR + 1.08% | )# | 1/28/2031 | 20,859,000 | 20,915,386 | |||||||
| Goldman Sachs Group, Inc. | 4.938% (SOFR + 1.29% | )# | 4/23/2028 | 3,877,000 | 3,902,323 | |||||||
| Goldman Sachs Group, Inc. | 5.503% (SOFR + 1.85% | )# | 3/15/2028 | 1,633,000 | 1,649,824 | |||||||
| HSBC Holdings PLC (United Kingdom)(e) | 4.689% (SOFR + 1.03% | )# | 3/3/2029 | 5,000,000 | 5,016,030 | |||||||
| Huntington National Bank | 4.369% (SOFR + 0.72% | )# | 4/12/2028 | 3,777,000 | 3,779,161 | |||||||
| JPMorgan Chase & Co. | 4.448% (SOFR + 0.80% | )# | 1/24/2029 | 5,000,000 | 5,012,325 | |||||||
| JPMorgan Chase & Co. | 4.578% (SOFR + 0.93% | )# | 7/22/2028 | 1,967,000 | 1,973,483 | |||||||
| Lloyds Banking Group PLC (United Kingdom)(e) | 4.721% (SOFR + 1.06% | )# | 11/26/2028 | 5,000,000 | 5,026,150 | |||||||
| 38 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Banks (continued) | ||||||||||||
| Lloyds Banking Group PLC (United Kingdom)(e) | 4.769% (SOFR + 1.10% | )# | 11/4/2031 | $ | 17,660,000 | $ | 17,673,531 | |||||
| Morgan Stanley | 4.568% (SOFR + 0.92% | )# | 10/18/2029 | 10,000,000 | 10,011,442 | |||||||
| Morgan Stanley | 4.619% (SOFR + 0.97% | )# | 4/10/2030 | 5,000,000 | 5,008,042 | |||||||
| Morgan Stanley | 5.031% (SOFR + 1.38% | )# | 4/12/2029 | 6,000,000 | 6,068,187 | |||||||
| Morgan Stanley Bank NA | 4.523% (SOFR + 0.87% | )# | 5/26/2028 | 800,000 | 801,404 | |||||||
| NatWest Group PLC (United Kingdom)(e) | 4.965% (SOFR + 1.30% | )# | 11/15/2028 | 200,000 | 201,756 | |||||||
| NatWest Markets PLC (United Kingdom)†(e) | 4.601% (SOFR + 0.95% | )# | 3/21/2028 | 3,959,000 | 3,978,943 | |||||||
| NatWest Markets PLC (United Kingdom)†(e) | 4.804% (SOFR + 1.14% | )# | 5/17/2029 | 5,528,000 | 5,571,736 | |||||||
| Societe Generale SA (France)†(e) | 4.763% (SOFR + 1.10% | )# | 2/19/2027 | 710,000 | 713,404 | |||||||
| Standard Chartered PLC (United Kingdom)†(e) | 4.569% (SOFR + 0.92% | )# | 1/13/2030 | 10,000,000 | 10,006,604 | |||||||
| Swedbank AB (Sweden)†(e) | 4.692% (SOFR + 1.03% | )# | 11/20/2029 | 1,824,000 | 1,844,287 | |||||||
| Toronto-Dominion Bank (Canada)(e) | 4.467% (SOFR + 0.82% | )# | 1/31/2028 | 2,413,000 | 2,423,459 | |||||||
| Toronto-Dominion Bank (Canada)(e) | 4.683% (SOFR + 1.03% | )# | 12/17/2029 | 4,000,000 | 4,020,489 | |||||||
| U.S. Bank NA | 4.574% (SOFR + 0.91% | )# | 5/15/2028 | 7,007,000 | 7,034,634 | |||||||
| Wells Fargo & Co. | 5.018% (SOFR + 1.37% | )# | 4/23/2029 | 5,000,000 | 5,061,446 | |||||||
| Total | 171,713,554 | |||||||||||
| Diversified Financial Services 0.72% | ||||||||||||
| American Express Co.(f) | 4.666% (SOFR + 1.02% | )# | 1/30/2031 | 6,000,000 | 5,989,486 | |||||||
| American Express Co. | 4.908% (SOFR + 1.26% | )# | 4/25/2029 | 6,000,000 | 6,067,434 | |||||||
| Bread Financial Holdings, Inc.† | 6.75% | 5/15/2031 | 8,823,000 | 9,024,994 | ||||||||
| ILFC E-Capital Trust I† | 6.38% | # | 12/21/2065 | 9,201,000 | 7,893,795 | |||||||
| Total | 28,975,709 | |||||||||||
| See Notes to Schedule of Investments. | 39 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Health Care-Services 0.03% | ||||||||||||
| HCA, Inc. | 4.528% (SOFR + 0.87% | )# | 3/1/2028 | $ | 1,134,000 | $ | 1,137,810 | |||||
| Insurance 0.36% | ||||||||||||
| Athene Global Funding† | 4.521% (SOFR + 0.83% | )# | 1/7/2027 | 3,000,000 | 3,001,395 | |||||||
| Corebridge Global Funding† | 4.399% (SOFR + 0.75% | )# | 1/7/2028 | 2,071,000 | 2,069,167 | |||||||
| F&G Global Funding† | 4.98% (SOFR + 1.33% | )# | 9/8/2028 | 7,355,000 | 7,377,447 | |||||||
| Jackson National Life Global Funding† | 4.62% (SOFR + 0.97% | )# | 1/14/2028 | 2,161,000 | 2,165,289 | |||||||
| Total | 14,613,298 | |||||||||||
| Mining 0.14% | ||||||||||||
| Glencore Funding LLC† | 4.401% (SOFR + 0.75% | )# | 10/1/2026 | 2,064,000 | 2,066,970 | |||||||
| Glencore Funding LLC† | 4.71% (SOFR + 1.06% | )# | 4/4/2027 | 1,737,000 | 1,743,814 | |||||||
| Rio Tinto Finance USA PLC (United Kingdom)(e) | 4.493% (SOFR + 0.84% | )# | 3/14/2028 | 1,844,000 | 1,850,854 | |||||||
| Total | 5,661,638 | |||||||||||
| Oil & Gas 0.28% | ||||||||||||
| Chevron USA, Inc. | 4.471% (SOFR + 0.82% | )# | 10/15/2030 | 11,156,000 | 11,282,908 | |||||||
| Pipelines 0.19% | ||||||||||||
| Energy Transfer LP | 6.943% (3 mo. USD Term SOFR + 3.28% | )# | 11/1/2066 | 1,323,000 | 1,313,003 | |||||||
| Plains All American Pipeline LP | 8.024% (3 mo. USD Term SOFR + 4.37% | )# | – | (g) | 6,086,000 | 6,101,229 | ||||||
| Total | 7,414,232 | |||||||||||
| REITS 0.18% | ||||||||||||
| Brixmor Operating Partnership LP | 5.375% | 6/15/2036 | 3,016,000 | 3,009,890 | ||||||||
| Vornado Realty LP | 5.75% | 2/1/2033 | 4,179,000 | 4,187,245 | ||||||||
| Total | 7,197,135 | |||||||||||
| Semiconductors 0.13% | ||||||||||||
| Intel Corp. | 5.00% | 8/15/2033 | 5,200,000 | 5,181,250 | ||||||||
| 40 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Software 0.34% | ||||||||||||
| Oracle Corp. | 4.429% (SOFR + 0.76% | )# | 8/3/2028 | $ | 5,177,000 | $ | 5,084,226 | |||||
| Oracle Corp. | 4.777% (SOFR + 1.11% | )# | 2/4/2029 | 8,642,000 | 8,584,100 | |||||||
| Total | 13,668,326 | |||||||||||
| Telecommunications 0.38% | ||||||||||||
| NTT Finance Corp. (Japan)†(e) | 4.967% (SOFR + 1.31% | )# | 7/16/2030 | 6,000,000 | 6,103,351 | |||||||
| QTS Fayetteville I Dc1-2 LLC/QTS TRS Fayetteville I DC1-2 LLC† | 5.70% | 4/15/2036 | 9,579,000 | 9,320,214 | ||||||||
| Total | 15,423,565 | |||||||||||
| Total Corporate Bonds (cost $308,687,544) | 309,790,301 | |||||||||||
| FLOATING RATE LOANS(h) 9.12% | ||||||||||||
| Aerospace & Defense 0.26% | ||||||||||||
| TransDigm, Inc. 2025 Term Loan K | 5.902% (1 mo. USD Term SOFR + 2.25% | ) | 3/22/2030 | 7,651,550 | 7,672,018 | |||||||
| TransDigm, Inc. 2026 Term Loan N | – | (d) | 2/13/2033 | 2,965,000 | 2,973,257 | |||||||
| Total | 10,645,275 | |||||||||||
| Airlines 0.28% | ||||||||||||
| OneSky Flight LLC 2026 Term Loan B | 6.418% (1 mo. USD Term SOFR + 2.75% | ) | 2/17/2033 | 8,160,000 | 8,190,641 | |||||||
| VistaJet Malta Finance PLC 2025 Term Loan B | 7.442% (3 mo. USD Term SOFR + 3.75% | ) | 4/1/2031 | 3,080,145 | 3,060,894 | |||||||
| Total | 11,251,535 | |||||||||||
| Auto Parts & Equipment 0.12% | ||||||||||||
| Clarios Global LP 2024 USD Term Loan B (Canada)(e) | 6.152% (1 mo. USD Term SOFR + 2.50% | ) | 5/6/2030 | 4,855,635 | 4,882,948 | |||||||
| Beverages 0.20% | ||||||||||||
| Primo Brands Corp. 2026 Term Loan B | 6.432% (3 mo. USD Term SOFR + 2.75% | ) | 3/31/2031 | 7,983,000 | 8,042,553 | |||||||
| Biotechnology 0.19% | ||||||||||||
| Grifols Worldwide Operations USA, Inc. 2026 USD Term Loan B | 6.187% (6 mo. USD Term SOFR + 2.50% | ) | 4/14/2033 | 7,792,316 | 7,819,434 | |||||||
| See Notes to Schedule of Investments. | 41 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Chemicals 0.45% | ||||||||||||
| Nouryon Finance BV 2024 USD Term Loan B1 (Netherlands)(e) | 6.936% (6 mo. USD Term SOFR + 3.25% | ) | 4/3/2028 | $ | 7,900,000 | $ | 7,865,438 | |||||
| SCIH Salt Holdings, Inc. 2025 Repriced Term Loan B | 6.35% (6 mo. USD Term SOFR + 2.75% | ) | 1/31/2029 | 6,081,346 | 6,107,465 | |||||||
| Solstice Advanced Materials, Inc. Term Loan B | 5.413% (3 mo. USD Term SOFR + 1.75% | ) | 10/29/2032 | 4,000,000 | 4,033,140 | |||||||
| Total | 18,006,043 | |||||||||||
| Commercial Services 0.47% | ||||||||||||
| Albion Financing 3 SARL 2025 USD Term Loan (Luxembourg)(e) | 6.664% (3 mo. USD Term SOFR + 3.00% | ) | 5/21/2031 | 9,804,304 | 9,864,355 | |||||||
| Garda World Security Corp. 2026 Term Loan B (Canada)(e) | 6.419% (3 mo. USD Term SOFR + 2.75% | ) | 2/1/2029 | 8,950,000 | 8,955,594 | |||||||
| Total | 18,819,949 | |||||||||||
| Computers 0.10% | ||||||||||||
| Surf Holdings LLC 2025 Incremental Term Loan | 7.267% (1 mo. USD Term SOFR + 3.50% | ) | 3/5/2027 | 3,989,425 | 3,872,235 | |||||||
| Consumer Cyclicals 0.25% | ||||||||||||
| Lowes Cos., Inc. Delayed Draw Term Loan | 4.661% (1 mo. USD Term SOFR + 1.00% | ) | 9/15/2028 | 10,000,000 | 9,962,500 | |||||||
| Cosmetics/Personal Care 0.09% | ||||||||||||
| Olaplex, Inc. 2022 Term Loan | 7.273% (3 mo. USD Term SOFR + 3.50% | ) | 2/23/2029 | 3,742,482 | 3,752,811 | |||||||
| Diversified Financial Services 1.05% | ||||||||||||
| Avolon TLB Borrower 1 U.S. LLC 2023 Term Loan B6 | 5.411% (1 mo. USD Term SOFR + 1.75% | ) | 6/24/2030 | 7,605,725 | 7,644,514 | |||||||
| Citadel Securities LP 2024 First Lien Term Loan | 5.70% (3 mo. USD Term SOFR + 2.00% | ) | 10/31/2031 | 178,238 | 179,104 | |||||||
| Citadel Securities LP 2024 Term Loan B | 5.668% (1 mo. USD Term SOFR + 2.00% | ) | 7/29/2030 | 99,001 | 99,482 | |||||||
| DRW Holdings LLC 2024 Term Loan B | 7.152% (1 mo. USD Term SOFR + 3.50% | ) | 6/26/2031 | 6,921,440 | 6,878,181 | |||||||
| Guggenheim Partners LLC 2024 Term Loan B | 6.20% (3 mo. USD Term SOFR + 2.50% | ) | 11/26/2031 | 8,803,028 | 8,836,039 | |||||||
| 42 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Diversified Financial Services (continued) | ||||||||||||
| Hudson River Trading LLC 2026 Repriced Term Loan B | 6.161% (1 mo. USD Term SOFR + 2.50% | ) | 3/18/2030 | $ | 10,659,363 | $ | 10,700,668 | |||||
| Jane Street Group LLC 2024 Term Loan B1 | 5.673% (3 mo. USD Term SOFR + 2.00% | ) | 12/15/2031 | 8,040,569 | 8,036,549 | |||||||
| Total | 42,374,537 | |||||||||||
| Electric 0.84% | ||||||||||||
| Astoria Energy LLC 2025 Term Loan B | 5.902% - 5.95% (1 mo. USD Term SOFR + 2.25% (3 mo. USD Term SOFR + 2.25% | ) ) |
6/23/2032 | 3,933,103 | 3,951,844 | |||||||
| Cornerstone Generation LLC Term Loan B | 5.913% (3 mo. USD Term SOFR + 2.25% | ) | 8/11/2032 | 2,682,524 | 2,693,066 | |||||||
| CPV Three Rivers LLC Term Loan B | 6.423% (3 mo. USD Term SOFR + 2.75% | ) | 4/15/2033 | 6,450,000 | 6,482,283 | |||||||
| Indeck Niles LLC Term Loan B | 6.419% (3 mo. USD Term SOFR + 2.75% | ) | 3/9/2033 | 7,500,000 | 7,537,500 | |||||||
| NRG Energy, Inc. 2024 Term Loan | 5.409% - 5.42% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75% | ) ) |
4/16/2031 | 13,010,143 | 13,052,556 | |||||||
| Total | 33,717,249 | |||||||||||
| Electronics 0.22% | ||||||||||||
| Amphenol Corp. 3 Year Delayed Draw Term Loan | 4.536% (1 mo. USD Term SOFR + 0.88% | ) | 8/22/2028 | 6,779,000 | 6,762,053 | |||||||
| Honeywell International, Inc. Term Loan A1 | 4.527% (1 mo. USD Term SOFR + 0.88% | ) | 5/7/2027 | 2,062,500 | 2,062,500 | |||||||
| Total | 8,824,553 | |||||||||||
| Entertainment 0.16% | ||||||||||||
| GVC Holdings Gibraltar Ltd. 2024 EUR Term Loan B4 | 5.635% (3 mo. EURIBOR + 3.50% | ) | 6/30/2028 | EUR | 44,146 | 52,388 | ||||||
| TKO Worldwide Holdings LLC 2025 Term Loan | 5.664% (3 mo. USD Term SOFR + 2.00% | ) | 11/21/2031 | $ | 6,184,422 | 6,208,046 | ||||||
| Total | 6,260,434 | |||||||||||
| Environmental Control 0.55% | ||||||||||||
| GFL Environmental, Inc. 2025 Term Loan B (Canada)(e) | 6.166% (3 mo. USD Term SOFR + 2.50% | ) | 3/3/2032 | 6,818,988 | 6,842,445 | |||||||
| Madison IAQ LLC 2025 Repriced Term Loan | 6.378% (6 mo. USD Term SOFR + 2.75% | ) | 11/8/2032 | 8,260,121 | 8,294,731 | |||||||
| See Notes to Schedule of Investments. | 43 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Environmental Control (continued) | ||||||||||||
| Reworld Holding Corp. 2025 1st Lien Term Loan B | 5.904% (1 mo. USD Term SOFR + 2.25%) | 1/15/2031 | $ | 6,882,750 | $ | 6,899,957 | ||||||
| Total | 22,037,133 | |||||||||||
| Food 0.17% | ||||||||||||
| Chobani LLC 2025 Term Loan B | 5.902% (1 mo. USD Term SOFR + 2.25% | ) | 10/28/2032 | 6,783,000 | 6,829,023 | |||||||
| Health Care Services 0.10% | ||||||||||||
| Surgery Center Holdings, Inc. 2025 Term Loan B | 6.152% (1 mo. USD Term SOFR + 2.50% | ) | 12/19/2030 | 3,976,162 | 3,991,371 | |||||||
| Home Furnishings 0.15% | ||||||||||||
| AI Aqua Merger Sub, Inc. 2026 Term Loan B | 6.161% (1 mo. USD Term SOFR + 2.50% (3 mo. USD Term SOFR + 2.50% | ) ) |
7/31/2028 | 6,195,000 | 6,217,705 | |||||||
| Household Equipment/Products 0.24% | ||||||||||||
| GC Ferry Acquisition I, Inc. Delayed Draw Term Loan(i) | – | (d) | 8/16/2032 | 1,426,487 | 1,424,904 | |||||||
| GC Ferry Acquisition I, Inc. Term Loan | 7.20% (3 mo. USD Term SOFR + 3.50% | ) | 8/16/2032 | 8,334,251 | 8,325,000 | |||||||
| Total | 9,749,904 | |||||||||||
| Household Products 0.11% | ||||||||||||
| Reynolds Consumer Products LLC 2025 Term Loan B | 5.402% (1 mo. USD Term SOFR + 1.75% | ) | 3/4/2032 | 4,448,541 | 4,478,435 | |||||||
| Insurance 0.33% | ||||||||||||
| Asurion LLC 2025 Term Loan B13 | 7.913% (3 mo. USD Term SOFR + 4.25% | ) | 9/19/2030 | 4,738,065 | 4,746,523 | |||||||
| Asurion LLC 2026 Term Loan B14 | 7.413% (3 mo. USD Term SOFR + 3.75% | ) | 2/23/2033 | 4,487,180 | 4,422,228 | |||||||
| Lockton, Inc. Term Loan B | – | (d) | 4/22/2033 | 3,946,000 | 3,960,797 | |||||||
| Total | 13,129,548 | |||||||||||
| Internet 0.07% | ||||||||||||
| Arches Buyer, Inc. 2021 Term Loan B | – | (d) | 12/6/2027 | 2,977,000 | 2,977,372 | |||||||
| Leisure Time 0.20% | ||||||||||||
| Peloton Interactive, Inc. 2024 Term Loan B | 9.152% (1 mo. USD Term SOFR + 5.50% | ) | 5/30/2029 | 8,185,949 | 8,242,268 | |||||||
| 44 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Machinery: Diversified 0.35% | ||||||||||||
| CPM Holdings, Inc. 2023 Term Loan | 8.165% (1 mo. USD Term SOFR + 4.50% | ) | 9/28/2028 | $ | 3,989,796 | $ | 3,998,374 | |||||
| TK Elevator Midco GmbH 2026 USD Term Loan B (Germany)(e) | 6.442% (3 mo. USD Term SOFR + 2.75% | ) | 4/30/2030 | 9,844,000 | 9,932,202 | |||||||
| Total | 13,930,576 | |||||||||||
| Media 0.60% | ||||||||||||
| Charter Communications Operating LLC 2023 Term Loan B4 | 5.692% (3 mo. USD Term SOFR + 2.00% | ) | 12/7/2030 | 6,539,104 | 6,540,216 | |||||||
| Charter Communications Operating LLC 2024 Term Loan B5 | 5.942% (3 mo. USD Term SOFR + 2.25% | ) | 12/15/2031 | 8,761,607 | 8,766,645 | |||||||
| Telenet Financing USD LLC 2020 USD Term Loan AR | 5.769% (1 mo. USD Term SOFR + 2.00% | ) | 4/28/2028 | 5,125,000 | 5,107,549 | |||||||
| Virgin Media Bristol LLC 2023 USD Term Loan Y | – | (d) | 3/31/2031 | 4,000,000 | 3,752,920 | |||||||
| Total | 24,167,330 | |||||||||||
| Oil & Gas 0.14% | ||||||||||||
| Hilcorp Energy I LP Term Loan B | 5.411% (1 mo. USD Term SOFR + 1.75% | ) | 2/11/2030 | 5,653,697 | 5,674,898 | |||||||
| Pharmaceuticals 0.15% | ||||||||||||
| Organon & Co. 2024 USD Term Loan | 5.902% (1 mo. USD Term SOFR + 2.25% | ) | 5/19/2031 | 5,892,305 | 5,897,461 | |||||||
| Pipelines 0.49% | ||||||||||||
| Colossus Acquireco LLC Term Loan B | 5.38% (3 mo. USD Term SOFR + 1.75% | ) | 7/30/2032 | 3,724,392 | 3,729,048 | |||||||
| Gray Oak Pipeline LLC Delayed Draw Term Loan | 5.023% (3 mo. USD Term SOFR + 1.35% | ) | 10/14/2026 | 3,500,000 | 3,489,248 | |||||||
| Oryx Midstream Services Permian Basin LLC 2025 Term Loan B | – | (d) | 10/5/2028 | 3,989,900 | 4,007,915 | |||||||
| Rockpoint Gas Storage Partners LP 2025 Repriced Term Loan B | – | (d) | 9/18/2031 | 3,989,899 | 4,005,958 | |||||||
| Traverse Midstream Partners LLC 2026 Term Loan B | – | (d) | 4/21/2033 | 4,350,000 | 4,362,245 | |||||||
| Total | 19,594,414 | |||||||||||
| Real Estate Investment Trusts 0.36% | ||||||||||||
| Blackstone Mortgage Trust, Inc. 2025 Term Loan B | 6.152% (1 mo. USD Term SOFR + 2.50% | ) | 12/20/2032 | 3,790,500 | 3,801,189 | |||||||
| See Notes to Schedule of Investments. | 45 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Real Estate Investment Trusts (continued) | ||||||||||||
| Blackstone Mortgage Trust, Inc. 2026 Repriced Term Loan | 6.152% (1 mo. USD Term SOFR + 2.50% | ) | 12/10/2030 | $ | 5,391,251 | $ | 5,397,991 | |||||
| Host Hotels & Resorts LP 2023 Term Loan A2 | 4.552% (1 mo. USD Term SOFR + 0.90% | ) | 1/4/2028 | 917,000 | 910,122 | |||||||
| Invitation Homes Operating Partnership LP 2024 Term Loan | 4.503% (1 mo. USD Term SOFR + 0.85% | ) | 9/9/2028 | 4,632,000 | 4,562,520 | (j) | ||||||
| Total | 14,671,822 | |||||||||||
| Retail 0.18% | ||||||||||||
| Murphy USA, Inc. Term Loan B | 5.415% (1 mo. USD Term SOFR + 1.75% | ) | 4/7/2032 | 3,188,975 | 3,216,879 | |||||||
| Peer Holding III BV 2025 USD Term Loan B (Netherlands)(e) | 5.95% (3 mo. USD Term SOFR + 2.25% | ) | 10/14/2032 | 3,900,000 | 3,908,287 | |||||||
| Total | 7,125,166 | |||||||||||
| Software 0.12% | ||||||||||||
| UKG, Inc. 2024 Term Loan B | 6.163% (3 mo. USD Term SOFR + 2.50% | ) | 2/10/2031 | 3,989,975 | 3,856,829 | |||||||
| VCI Asset Holdings 3 LLC Fixed Term Loan | 6.875% | 4/24/2031 | 891,000 | 882,090 | (j) | |||||||
| Total | 4,738,919 | |||||||||||
| Transportation 0.13% | ||||||||||||
| Rand Parent LLC 2025 Term Loan B | 6.70% (3 mo. USD Term SOFR + 3.00% | ) | 3/18/2030 | 5,246,093 | 5,273,819 | |||||||
| Total Floating Rate Loans (cost $366,330,736) | 366,959,220 | |||||||||||
| FOREIGN GOVERNMENT OBLIGATIONS(e) 1.62% | ||||||||||||
| Finland 0.87% | ||||||||||||
| Kuntarahoitus OYJ | 4.649% (SOFR + 1.00% | )# | 7/15/2026 | 34,900,000 | 34,958,807 | |||||||
| Japan 0.49% | ||||||||||||
| Japan Bank for International Cooperation | 2.875% | 6/1/2027 | 20,000,000 | 19,756,703 | ||||||||
| Norway 0.25% | ||||||||||||
| Kommunalbanken AS† | 4.653% (SOFR + 1.00% | )# | 6/17/2026 | 10,000,000 | 10,011,274 | |||||||
| South Korea 0.01% | ||||||||||||
| Korea National Oil Corp.† | 4.557% (SOFR + 0.90% | )# | 9/30/2027 | 302,000 | 303,577 | |||||||
| Total Foreign Government Obligations (cost $65,113,409) | 65,030,361 | |||||||||||
| 46 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 4.95% | ||||||||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA2 Class B2† | 12.145% (30 day USD SOFR Average + 8.50% | )# | 2/25/2042 | $ | 1,720,000 | $ | 1,813,768 | |||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA3 Class M2† | 7.995% (30 day USD SOFR Average + 4.35% | )# | 4/25/2042 | 9,500,000 | 9,802,404 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA1 Class B2† | 14.645% (30 day USD SOFR Average + 11.00% | )# | 3/25/2042 | 3,200,000 | 3,460,232 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA1 Class M2† | 8.895% (30 day USD SOFR Average + 5.25% | )# | 3/25/2042 | 7,250,000 | 7,508,516 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA3 Class A1† | 5.495% (30 day USD SOFR Average + 1.85% | )# | 11/25/2043 | 772,528 | 777,322 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2023-HQA1 Class M1A† | 5.645% (30 day USD SOFR Average + 2.00% | )# | 5/25/2043 | 2,627,550 | 2,645,910 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2023-HQA3 Class M1† | 5.495% (30 day USD SOFR Average + 1.85% | )# | 11/25/2043 | 7,577,158 | 7,620,999 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA1 Class A1† | 4.995% (30 day USD SOFR Average + 1.35% | )# | 2/25/2044 | 3,903,446 | 3,921,897 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA2 Class A1† | 4.895% (30 day USD SOFR Average + 1.25% | )# | 5/25/2044 | 13,177,890 | 13,237,083 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA2 Class M1† | 4.845% (30 day USD SOFR Average + 1.20% | )# | 5/25/2044 | 1,618,192 | 1,619,356 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA3 Class A1† | 4.695% (30 day USD SOFR Average + 1.05% | )# | 10/25/2044 | 6,608,250 | 6,623,399 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-HQA1 Class A1† | 4.895% (30 day USD SOFR Average + 1.25% | )# | 3/25/2044 | 14,561,373 | 14,617,270 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-HQA1 Class M1† | 4.895% (30 day USD SOFR Average + 1.25% | )# | 3/25/2044 | 3,235,636 | 3,237,565 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-HQA2 Class A1† | 4.895% (30 day USD SOFR Average + 1.25% | )# | 8/25/2044 | 10,771,667 | 10,820,156 | |||||||
| See Notes to Schedule of Investments. | 47 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-DNA1 Class A1† | 4.595% (30 day USD SOFR Average + 0.95% | )# | 1/25/2045 | $ | 1,910,020 | $ | 1,912,107 | |||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-DNA2 Class A1† | 4.745% (30 day USD SOFR Average + 1.10% | )# | 5/25/2045 | 2,021,000 | 2,028,605 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-DNA4 Class A1† | 4.545% (30 day USD SOFR Average + 0.90% | )# | 10/25/2045 | 7,711,250 | 7,718,044 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-HQA1 Class A1† | 4.595% (30 day USD SOFR Average + 0.95% | )# | 2/25/2045 | 693,208 | 694,339 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Series 2024-R05 Class 2A1† | 4.645% (30 day USD SOFR Average + 1.00% | )# | 7/25/2044 | 731,945 | 733,199 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Series 2025-R02 Class 1A1† | 4.645% (30 day USD SOFR Average + 1.00% | )# | 2/25/2045 | 6,130,557 | 6,142,628 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01 Class 1B1† | 6.745% (30 day USD SOFR Average + 3.10% | )# | 10/25/2041 | 9,575,000 | 9,670,396 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2B2† | 11.295% (30 day USD SOFR Average + 7.65% | )# | 1/25/2042 | 3,117,000 | 3,253,417 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R06 Class 1B2† | 14.245% (30 day USD SOFR Average + 10.60% | )# | 5/25/2042 | 5,027,000 | 5,489,518 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R07 Class 1B2† | 15.645% (30 day USD SOFR Average + 12.00% | )# | 6/25/2042 | 3,378,300 | 3,769,485 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M2† | 7.395% (30 day USD SOFR Average + 3.75% | )# | 12/25/2042 | 4,750,000 | 4,948,474 | |||||||
| 48 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R04 Class 1B2† | 11.895% (30 day USD SOFR Average + 8.25% | )# | 5/25/2043 | $ | 3,350,000 | $ | 3,760,249 | |||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R04 Class 1A1† | 4.645% (30 day USD SOFR Average + 1.00% | )# | 5/25/2044 | 9,520,565 | 9,533,333 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R06 Class 1A1† | 4.795% (30 day USD SOFR Average + 1.15% | )# | 9/25/2044 | 1,635,064 | 1,640,794 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R03 Class 2M1† | 5.245% (30 day USD SOFR Average + 1.60% | )# | 3/25/2045 | 2,155,389 | 2,160,187 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R04 Class 1A1† | 4.645% (30 day USD SOFR Average + 1.00% | )# | 5/25/2045 | 3,498,134 | 3,504,054 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R05 Class 2A1† | 4.645% (30 day USD SOFR Average + 1.00% | )# | 7/25/2045 | 12,879,027 | 12,911,028 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R05 Class 2M1† | 4.845% (30 day USD SOFR Average + 1.20% | )# | 7/25/2045 | 11,666,279 | 11,678,964 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2026-R01 Class 2A1† | 4.495% (30 day USD SOFR Average + 0.85% | )# | 1/25/2046 | 856,905 | 857,180 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2026-R01 Class 2M1† | 4.645% (30 day USD SOFR Average + 1.00% | )# | 1/25/2046 | 9,709,036 | 9,715,129 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2026-R03 Class 2A1† | 4.74% (30 day USD SOFR Average + 1.10% | )# | 4/25/2046 | 9,405,000 | 9,410,812 | |||||||
| Total Government Sponsored Enterprises Collateralized Mortgage Obligations (cost $199,723,900) |
199,237,819 | |||||||||||
| See Notes to Schedule of Investments. | 49 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 7.37% | ||||||||||||
| 1301 Trust Series 2025-1301 Class A† | 5.227% | #(k) | 8/11/2042 | $ | 6,700,000 | $ | 6,735,986 | |||||
| 1345 Trust Series 2025-AOA Class A† | 5.255% (1 mo. USD Term SOFR + 1.60% | )# | 6/15/2042 | 2,660,000 | 2,663,913 | |||||||
| ALA Trust Series 2025-OANA Class A† | 5.398% (1 mo. USD Term SOFR + 1.74% | )# | 6/15/2040 | 3,320,000 | 3,337,469 | |||||||
| Arbor Realty Commercial Real Estate Notes LLC Series 2025-FL1 Class A† | 5.015% (1 mo. USD Term SOFR + 1.35% | )# | 1/20/2043 | 4,235,235 | 4,234,639 | |||||||
| Arbor Realty Commercial Real Estate Notes LLC Series 2025-FL1 Class AS† | 5.494% (1 mo. USD Term SOFR + 1.83% | )# | 1/20/2043 | 4,120,000 | 4,124,029 | |||||||
| ARDN Mortgage Trust Series 2025-ARCP Class A† | 5.405% (1 mo. USD Term SOFR + 1.75% | )# | 6/15/2035 | 1,360,000 | 1,364,657 | |||||||
| ARES Commercial Mortgage Trust Series 2026-AZURE Class A† | 5.005% (1 mo. USD Term SOFR + 1.35% | )# | 3/15/2038 | 3,370,000 | 3,374,951 | |||||||
| BHMS Commercial Mortgage Trust Series 2025-ATLS Class A† | 5.505% (1 mo. USD Term SOFR + 1.85% | )# | 8/15/2042 | 4,100,000 | 4,112,594 | |||||||
| BSPDF Issuer LLC Series 2026-FL3 Class A† | 5.111% (1 mo. USD Term SOFR + 1.45% | )# | 9/18/2043 | 6,510,000 | 6,519,410 | |||||||
| BSPRT Issuer LLC Series 2025-FL12 Class A† | 5.054% (1 mo. USD Term SOFR + 1.39% | )# | 1/17/2043 | 12,850,000 | 12,887,735 | |||||||
| BX Commercial Mortgage Trust Series 2019-IMC Class A† | 4.701% (1 mo. USD Term SOFR + 1.05% | )# | 4/15/2034 | 9,426,264 | 9,383,305 | |||||||
| BX Commercial Mortgage Trust Series 2025-BCAT Class A† | 5.035% (1 mo. USD Term SOFR + 1.38% | )# | 8/15/2042 | 3,620,596 | 3,628,695 | |||||||
| BX Commercial Mortgage Trust Series 2026-CSMO Class A† | 5.055% (1 mo. USD Term SOFR + 1.40% | )# | 2/15/2043 | 8,190,000 | 8,207,096 | |||||||
| BX Trust Series 2025-ARIA Class A† | 5.199% | #(k) | 12/13/2042 | 4,440,000 | 4,474,257 | |||||||
| BX Trust Series 2025-LUNR Class A† | 5.155% (1 mo. USD Term SOFR + 1.50% | )# | 6/15/2040 | 11,051,293 | 11,086,794 | |||||||
| BX Trust Series 2025-ROIC Class A† | 4.799% (1 mo. USD Term SOFR + 1.14% | )# | 3/15/2030 | 6,285,541 | 6,284,169 | |||||||
| BX Trust Series 2025-TAIL Class A† | 5.055% (1 mo. USD Term SOFR + 1.40% | )# | 6/15/2035 | 2,400,000 | 2,404,566 | |||||||
| BX Trust Series 2025-VOLT Class A† | 5.355% (1 mo. USD Term SOFR + 1.70% | )# | 12/15/2044 | 14,800,000 | 14,816,492 | |||||||
| 50 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued) | ||||||||||||
| BX Trust Series 2025-VOLT Class D† | 6.405% (1 mo. USD Term SOFR + 2.75% | )# | 12/15/2044 | $ | 3,980,000 | $ | 3,974,762 | |||||
| CONE Trust Series 2024-DFW1 Class A† | 5.296% (1 mo. USD Term SOFR + 1.64% | )# | 8/15/2041 | 5,613,000 | 5,615,140 | |||||||
| DBC Mortgage Trust Series 2025-DBC Class A† | 5.005% (1 mo. USD Term SOFR + 1.35% | )# | 11/15/2042 | 18,380,000 | 18,416,223 | |||||||
| DBC Mortgage Trust Series 2025-DBC Class D† | 6.255% (1 mo. USD Term SOFR + 2.60% | )# | 11/15/2042 | 2,670,000 | 2,676,676 | |||||||
| GS Mortgage Securities Trust Series 2018-GS10 Class AS | 4.384% | #(k) | 7/10/2051 | 10,008,937 | 9,815,708 | |||||||
| LoanCore Issuer Ltd. Series 2025-CRE8 Class A† | 5.053% (1 mo. USD Term SOFR + 1.39% | )# | 8/17/2042 | 8,030,000 | 8,035,879 | |||||||
| MAD Commercial Mortgage Trust Series 2025-11MD Class C† | 5.818% | #(k) | 10/15/2042 | 5,925,000 | 5,975,687 | |||||||
| NRTH Commercial Mortgage Trust Series 2025-PARK Class A† | 5.048% (1 mo. USD Term SOFR + 1.39% | )# | 10/15/2040 | 2,540,000 | 2,541,957 | |||||||
| NYC Commercial Mortgage Trust Series 2026-1PARK Class A† | 4.914% (1 mo. USD Term SOFR + 1.25% | )# | 2/15/2043 | 8,300,000 | 8,303,381 | |||||||
| NYO Commercial Mortgage Trust Series 2021-1290 Class A† | 4.865% (1 mo. USD Term SOFR + 1.21% | )# | 11/15/2038 | 3,000,000 | 2,998,995 | |||||||
| PFP Ltd. Series 2025-12 Class A† | 5.15% (1 mo. USD Term SOFR + 1.49% | )# | 12/18/2042 | 11,790,000 | 11,822,410 | |||||||
| PFP Ltd. Series 2025-12 Class B† | 5.703% (1 mo. USD Term SOFR + 2.04% | )# | 12/18/2042 | 5,100,000 | 5,112,688 | |||||||
| PFP Ltd. Series 2026-13 Class A† | 5.161% (1 mo. USD Term SOFR + 1.50% | )# | 8/18/2043 | 11,620,000 | 11,648,493 | |||||||
| SCG Trust Series 2025-SNIP Class A† | 5.155% (1 mo. USD Term SOFR + 1.50% | )# | 9/15/2042 | 3,340,000 | 3,353,020 | |||||||
| SHRN Trust Series 2025-MF18 Class A† | 4.855% (1 mo. USD Term SOFR + 1.20% | )# | 10/15/2040 | 15,750,000 | 15,749,600 | |||||||
| SWCH Commercial Mortgage Trust Series 2025-DATA Class A† | 5.098% (1 mo. USD Term SOFR + 1.44% | )# | 2/15/2042 | 13,500,000 | 13,401,237 | |||||||
| TCO Commercial Mortgage Trust Series 2024-DPM Class A† | 4.898% (1 mo. USD Term SOFR + 1.24% | )# | 12/15/2039 | 9,340,000 | 9,349,562 | |||||||
| TEXAS Commercial Mortgage Trust Series 2025-TWR Class A† | 4.948% (1 mo. USD Term SOFR + 1.29% | )# | 4/15/2042 | 11,000,000 | 10,978,869 | |||||||
| See Notes to Schedule of Investments. | 51 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued) | ||||||||||||
| U.S. Bank C&I Credit-Linked Notes Series 2025-SUP2 Class C† | 5.545% (30 day USD SOFR Average + 1.90% | )# | 9/25/2032 | $ | 5,057,658 | $ | 5,020,882 | |||||
| U.S. Bank NA Series 2025-SUP1 Class B† | 5.582% | 2/25/2032 | 2,298,721 | 2,300,437 | ||||||||
| U.S. Bank NA Series 2025-SUP1 Class D† | 6.345% (30 day USD SOFR Average + 2.70% | )# | 2/25/2032 | 9,276,077 | 9,359,005 | |||||||
| Wells Fargo Commercial Mortgage Trust Series 2025-609M Class A† | 5.197% (1 mo. USD Term SOFR + 1.54% | )# | 8/15/2042 | 10,930,000 | 10,946,069 | |||||||
| Wells Fargo Commercial Mortgage Trust Series 2025-B33RP Class A† | 5.005% (1 mo. USD Term SOFR + 1.35% | )# | 8/15/2042 | 9,290,000 | 9,294,918 | |||||||
| Total Non-Agency Commercial Mortgage-Backed Securities (cost $295,799,900) | 296,332,355 | |||||||||||
| U.S. TREASURY OBLIGATIONS 3.57% | ||||||||||||
| U.S. Treasury Notes | 3.375% | 12/31/2027 | 140,400,000 | 139,264,734 | ||||||||
| U.S. Treasury Notes | 4.25% | 8/15/2035 | 4,596,000 | 4,556,503 | ||||||||
| Total U.S. Treasury Obligations (cost $144,752,301) | 143,821,237 | |||||||||||
| Total Long-Term Investments (cost $4,075,213,558) | 4,070,935,081 | |||||||||||
| SHORT-TERM INVESTMENTS 0.78% | ||||||||||||
| REPURCHASE AGREEMENTS 0.69% | ||||||||||||
| Repurchase Agreement dated 4/30/2026, 3.250% due 5/1/2026 with Fixed Income Clearing Corp. collateralized by $17,015,900 of U.S. Treasury Note at 3.750% due 6/30/2027; value: $17,208,867; proceeds: $16,872,855 (cost $16,871,332) | 16,871,332 | 16,871,332 | ||||||||||
| Repurchase Agreement dated 4/30/2026, 3.580% due 5/1/2026 with JPMorgan Securities LLC collateralized by $10,845,800 of U.S. Treasury Bond at 4.375% due 5/15/2034; value: $11,122,449; proceeds: $10,901,084 (cost $10,900,000) | 10,900,000 | 10,900,000 | ||||||||||
| Total Repurchase Agreements (cost $27,771,332) | 27,771,332 | |||||||||||
| TIME DEPOSITS 0.01% | ||||||||||||
| CitiBank N.A.(l) (cost $349,118) | 349,118 | 349,118 | ||||||||||
| 52 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Investments | Shares | Fair Value | ||||||
| MONEY MARKET FUNDS 0.08% | ||||||||
| Fidelity Government Portfolio(l) (cost $3,142,062) | 3,142,062 | $ | 3,142,062 | |||||
| Total Short-Term Investments (cost $31,262,512) | 31,262,512 | |||||||
| Total Investments in Securities 101.97% (cost $4,106,476,070) | 4,102,197,593 | |||||||
| Less Unfunded Loan Commitments (0.04%) (cost $1,418,594) | (1,424,904 | ) | ||||||
| Net Investments in Securities 101.93% (cost $4,105,057,476) | 4,100,772,689 | |||||||
| Other Assets and Liabilities – Net (m) (1.93)% | (77,649,859 | ) | ||||||
| Net Assets 100.00% | $ | 4,023,122,830 | ||||||
| CAD | Canadian Dollar. | |
| EUR | Euro. | |
| EURIBOR | Euro Interbank Offered Rate. | |
| REITS | Real Estate Investment Trusts. | |
| REMICS | Real Estate Mortgage Investment Conduits. | |
| SOFR | Secured Overnight Financing Rate. | |
| STACR | Structured Agency Credit Risk. | |
| ‡ | Principal Amount is denominated in U.S. dollars unless otherwise noted. | |
| † | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At April 30, 2026, the total value of Rule 144A securities was $3,200,888,008, which represents 79.56% of net assets. | |
| # | Variable rate security. The interest rate represents the rate in effect at April 30, 2026. | |
| (a) | Level 3 Investment as described in Note 2(a) in the Notes to Schedule of Investments. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments. | |
| (b) | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. | |
| (c) | Securities purchased on a when-issued basis. | |
| (d) | Interest rate to be determined. | |
| (e) | Foreign security traded in U.S. dollars. | |
| (f) | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. | |
| (g) | Security is perpetual in nature and has no stated maturity. | |
| (h) | Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the SOFR or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at April 30, 2026. | |
| (i) | Security partially/fully unfunded. | |
| (j) | Level 3 Investment as described in Note 2(a) in the Notes to Schedule of Investments. Floating Rate Loans categorized as Level 3 are valued based on a single quotation obtained from a dealer. Generally accepted accounting principles in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore, the Fund does not have access to unobservable inputs and cannot disclose such inputs in the valuation. | |
| (k) | Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool. | |
| (l) | Security was purchased with the cash collateral from loaned securities. | |
| (m) | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on forward foreign currency exchange contracts, futures contracts and swap contracts as follows: |
| See Notes to Schedule of Investments. | 53 |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers – Sell Protection at April 30, 2026(1):
| Referenced Indexes/Issuers | Central Clearing Party | Fund Receives (Quarterly) | Termination Date | Notional Amount |
Payments Upfront(2) | Unrealized Appreciation/ (Depreciation)(3) | Value | ||||||||||||||
| CDX.NA.HY.S45(4) | Bank of America | 5.00% | 12/20/2030 | $102,602,610 | $ | 5,274,646 | $2,208,297 | $ | 7,482,943 | ||||||||||||
| CDX.NA.HY.S46(4) | Bank of America | 5.00% | 6/20/2031 | 18,440,000 | 1,266,719 | 47,402 | 1,314,121 | ||||||||||||||
| Total | $ | 6,541,365 | $2,255,699 | $ | 8,797,064 | ||||||||||||||||
| (1) | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities. | |
| (2) | Upfront payments paid (received) are presented net of amortization. | |
| (3) | Total unrealized appreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $2,255,699. Total unrealized depreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $0. | |
| (4) | Central Clearinghouse: Intercontinental Exchange (ICE). |
Centrally Cleared Interest Rate Swap Contracts at April 30, 2026:
| Central Clearingparty | Periodic Payments to be Made By The Fund (Quarterly) | Periodic Payments to be Received By The Fund (Quarterly) | Termination Date | Notional Amount |
Payments Upfront(1) | Unrealized Appreciation/ (Depreciation) | Value | ||||||||||||||
| Bank of America(2) | 3.946% | 12-Month USD SOFR Index | 6/15/2036 | $ 3,016,000 | $ | – | $ | 3,877 | $ | 3,877 | |||||||||||
| Bank of America(2) | 3.898% | 12-Month USD SOFR Index | 4/15/2036 | 9,579,000 | – | 44,168 | 44,168 | ||||||||||||||
| Bank of America(2) | 3.764% | 12-Month USD SOFR Index | 8/15/2033 | 5,200,000 | 123 | 22,988 | 23,111 | ||||||||||||||
| Bank of America(2) | 3.579% | 12-Month USD SOFR Index | 2/1/2033 | 4,179,000 | (152 | ) | 58,291 | 58,139 | |||||||||||||
| Bank of America(2) | 3.387% | 12-Month USD SOFR Index | 6/1/2027 | 20,000,000 | – | 72,908 | 72,908 | ||||||||||||||
| Bank of America(2) | 3.380% | 12-Month USD SOFR Index | 1/15/2029 | 9,000,000 | – | 74,964 | 74,964 | ||||||||||||||
| Bank of America(2) | 3.293% | 12-Month USD SOFR Index | 12/31/2027 | 140,400,000 | 85,440 | 921,971 | 1,007,411 | ||||||||||||||
| Bank of America(2) | 3.220% | 12-Month USD SOFR Index | 10/24/2027 | 164,000,000 | 76,590 | 1,187,166 | 1,263,756 | ||||||||||||||
| Total | $ | 162,001 | $ | 2,386,333 | $ | 2,548,334 | |||||||||||||||
| 54 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
| Central Clearingparty | Periodic Payments to be Made By The Fund (Quarterly) | Periodic Payments to be Received By The Fund (Quarterly) | Termination Date | Notional Amount |
Payments Upfront(1) | Unrealized Appreciation/ (Depreciation) | Value | ||||||||||||||
| Bank of America(2) | 12-Month USD SOFR Index | 3.357% | 2/18/2031 | $83,200,000 | $ | – | $ | (1,343,037 | ) | $ | (1,343,037 | ) | |||||||||
| SOFR | Secured Overnight Financing Rate. | |
| (1) | Upfront payments paid (received) are presented net of amortization. | |
| (2) | Central Clearinghouse: Chicago Mercantile Exchange (CME). |
Forward Foreign Currency Exchange Contracts at April 30, 2026:
| Forward Foreign Currency Exchange Contracts | Transaction Type | Counterparty | Expiration Date | Foreign Currency | U.S. $ Cost on Origination Date | U.S. $ Current Value | Unrealized Depreciation | |||||||||
| Canadian dollar | Sell | Goldman Sachs | 7/17/2026 | 17,823,000 | $13,056,621 | $13,162,999 | $(106,378 | ) | ||||||||
Futures Contracts at April 30, 2026:
| Type | Expiration | Contracts | Position | Notional Amount | Notional Value |
Unrealized Depreciation | |||||||||
| U.S. 10-Year Treasury Note | June 2026 | 242 | Long | $ 27,315,931 | $ 26,763,688 | $ | (552,243 | ) | |||||||
| U.S. 2-Year Treasury Note | June 2026 | 1,204 | Long | 251,126,901 | 249,378,500 | (1,748,401 | ) | ||||||||
| U.S. 5-Year Treasury Note | June 2026 | 182 | Long | 20,004,077 | 19,626,141 | (377,936 | ) | ||||||||
| Total Unrealized Depreciation on Futures Contracts | $ | (2,678,580 | ) | ||||||||||||
| See Notes to Schedule of Investments. | 55 |
Schedule of Investments (unaudited)(concluded)
INVESTMENT GRADE FLOATING RATE FUND April 30, 2026
The following is a summary of the inputs used as of April 30, 2026 in valuing the Fund’s investments carried at fair value(1):
| Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Long-Term Investments | ||||||||||||||||
| Asset-Backed Securities | ||||||||||||||||
| Credit Card | $ | – | $ | 41,176,628 | $ | 4,614,720 | $ | 45,791,348 | ||||||||
| Other | – | 2,248,603,493 | 15,000,459 | 2,263,603,952 | ||||||||||||
| Remaining Industries | – | 380,368,488 | – | 380,368,488 | ||||||||||||
| Corporate Bonds | – | 309,790,301 | – | 309,790,301 | ||||||||||||
| Floating Rate Loans | ||||||||||||||||
| Real Estate Investment Trusts | – | 10,109,302 | 4,562,520 | 14,671,822 | ||||||||||||
| Software | – | 3,856,829 | 882,090 | 4,738,919 | ||||||||||||
| Remaining Industries | – | 347,548,479 | – | 347,548,479 | ||||||||||||
| Less Unfunded Loan Commitments | – | (1,424,904 | ) | – | (1,424,904 | ) | ||||||||||
| Foreign Government Obligations | – | 65,030,361 | – | 65,030,361 | ||||||||||||
| Government Sponsored Enterprises Collateralized Mortgage Obligations | – | 199,237,819 | – | 199,237,819 | ||||||||||||
| Non-Agency Commercial Mortgage- Backed Securities | – | 296,332,355 | – | 296,332,355 | ||||||||||||
| U.S. Treasury Obligations | – | 143,821,237 | – | 143,821,237 | ||||||||||||
| Short-Term Investments | ||||||||||||||||
| Repurchase Agreements | – | 27,771,332 | – | 27,771,332 | ||||||||||||
| Time Deposits | – | 349,118 | – | 349,118 | ||||||||||||
| Money Market Funds | 3,142,062 | – | – | 3,142,062 | ||||||||||||
| Total | $ | 3,142,062 | $ | 4,072,570,838 | $ | 25,059,789 | $ | 4,100,772,689 | ||||||||
| Other Financial Instruments | ||||||||||||||||
| Centrally Cleared Credit Default Swap Contracts | ||||||||||||||||
| Assets | $ | – | $ | 8,797,064 | $ | – | $ | 8,797,064 | ||||||||
| Liabilities | – | – | – | – | ||||||||||||
| Centrally Cleared Interest Rate Swap Contracts | ||||||||||||||||
| Assets | – | 2,548,334 | – | 2,548,334 | ||||||||||||
| Liabilities | – | (1,343,037 | ) | – | (1,343,037 | ) | ||||||||||
| Forward Foreign Currency Exchange Contracts | ||||||||||||||||
| Assets | – | – | – | – | ||||||||||||
| Liabilities | – | (106,378 | ) | – | (106,378 | ) | ||||||||||
| Futures Contracts | ||||||||||||||||
| Assets | – | – | – | – | ||||||||||||
| Liabilities | (2,678,580 | ) | – | – | (2,678,580 | ) | ||||||||||
| Total | $ | (2,678,580 | ) | $ | 9,895,983 | $ | – | $ | 7,217,403 | |||||||
| (1) | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. | |
| (2) | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |
A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation and a summary of unobservable inputs as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.
| 56 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| LONG-TERM INVESTMENTS 98.17% | ||||||||||||
| ASSET-BACKED SECURITIES 0.62% | ||||||||||||
| Credit Card 0.18% | ||||||||||||
| Fortiva Retail Prime Masters Notes Business Trust Series 2025-A Class A† | 6.60% | 9/17/2029 | $ | 18,200,000 | $ | 18,258,240 | (a) | |||||
| Other 0.44% | ||||||||||||
| AMMC CLO 32 Ltd. Series 2025-32A Class E† | 9.43% (3 mo. USD Term SOFR + 5.75% | )# | 10/17/2038 | 2,520,000 | 2,534,556 | |||||||
| Arini U.S. CLO II Ltd. Series 2A Class E† | 9.323% (3 mo. USD Term SOFR + 5.65% | )# | 3/31/2038 | 2,520,000 | 2,536,831 | |||||||
| BDS LLC Series 2026-FL17 Class AS†(b) | 5.20% (1 mo. USD Term SOFR + 1.55% | )# | 5/19/2043 | 10,000,000 | 10,012,500 | |||||||
| Birch Grove CLO 3 Ltd. Series 2021-3A Class ER† | 8.825% (3 mo. USD Term SOFR + 5.15% | )# | 1/19/2038 | 2,750,000 | 2,660,289 | |||||||
| Brant Point CLO Ltd. Series 2023-1A Class ER† | 10.767% (3 mo. USD Term SOFR + 7.10% | )# | 7/26/2038 | 3,200,000 | 3,216,298 | |||||||
| Brant Point CLO Ltd. Series 2025-7A Class E† | 10.167% (3 mo. USD Term SOFR + 6.50% | )# | 7/25/2038 | 2,000,000 | 2,019,900 | |||||||
| Kennedy Lewis CLO 8 Ltd. Series 8A Class ER2† | 10.025% (3 mo. USD Term SOFR + 6.35% | )# | 1/20/2038 | 3,000,000 | 2,923,491 | |||||||
| MF1 LLC Series 2026-FL22 Class AS†(b) | 5.26% (1 mo. USD Term SOFR + 1.60% | )# | 11/18/2043 | 10,000,000 | 10,009,375 | |||||||
| Park Blue CLO Ltd. Series 2024-6A Class E† | 9.067% (3 mo. USD Term SOFR + 5.40% | )# | 1/25/2038 | 2,500,000 | 2,427,445 | |||||||
| Steele Creek CLO Ltd. Series 2022-1A Class E1R† | 11.673% (3 mo. USD Term SOFR + 8.00% | )# | 4/15/2038 | 2,000,000 | 1,971,624 | |||||||
| TCW CLO Ltd. Series 2021-2A Class ER† | 10.417% (3 mo. USD Term SOFR + 6.75% | )# | 10/24/2038 | 3,750,000 | 3,480,697 | |||||||
| Total | 43,793,006 | |||||||||||
| Total Asset-Backed Securities (cost $62,339,967) | 62,051,246 | |||||||||||
| Shares | ||||||||||||
| COMMON STOCKS 0.01% | ||||||||||||
| Health Care Providers & Services 0.01% | ||||||||||||
| Recovery Solutions LLC* | 65,196 | 847,545 | ||||||||||
| Personal Care Products 0.00% | ||||||||||||
| Anastasia Parent LLC* | 56,938 | 526,677 | ||||||||||
| Total Common Stocks (cost $1,953,708) | 1,374,222 | |||||||||||
| See Notes to Schedule of Investments. | 57 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| CONVERTIBLE BONDS 2.99% | ||||||||||||
| Commercial Services 0.05% | ||||||||||||
| Affirm Holdings, Inc. | 0.75% | 12/15/2029 | $ | 4,755,000 | $ | 5,028,413 | ||||||
| Diversified Financial Services 0.26% | ||||||||||||
| Coinbase Global, Inc. | 0.25% | 4/1/2030 | 10,135,000 | 9,874,024 | ||||||||
| Upstart Holdings, Inc. | 2.00% | 10/1/2029 | 3,800,000 | 4,133,640 | ||||||||
| WisdomTree, Inc.† | 4.625% | 8/15/2030 | 10,345,000 | 12,176,065 | ||||||||
| Total | 26,183,729 | |||||||||||
| Electrical Components & Equipment 0.10% | ||||||||||||
| Schneider Electric SE | 1.97% | 11/27/2030 | EUR | 6,200,000 | 9,942,577 | |||||||
| Electronics 0.10% | ||||||||||||
| Advanced Energy Industries, Inc. | 2.50% | 9/15/2028 | $ | 3,465,000 | 9,874,903 | |||||||
| Engineering & Construction 0.10% | ||||||||||||
| Granite Construction, Inc. | 3.75% | 5/15/2028 | 3,525,000 | 10,553,850 | ||||||||
| Food 0.12% | ||||||||||||
| Chefs’ Warehouse, Inc. | 2.375% | 12/15/2028 | 6,320,000 | 11,660,400 | ||||||||
| Home Builders 0.12% | ||||||||||||
| Meritage Homes Corp. | 1.75% | 5/15/2028 | 11,988,000 | 11,814,174 | ||||||||
| Investment Companies 0.13% | ||||||||||||
| Terawulf, Inc.† | 1.00% | 9/1/2031 | 6,600,000 | 12,833,700 | ||||||||
| Machinery: Construction & Mining 0.25% | ||||||||||||
| Bloom Energy Corp.† | Zero Coupon | 11/15/2030 | 6,090,000 | 10,616,088 | ||||||||
| BWX Technologies, Inc.† | Zero Coupon | 11/1/2030 | 13,370,000 | 14,493,080 | ||||||||
| Total | 25,109,168 | |||||||||||
| Media 0.16% | ||||||||||||
| AMC Global Media, Inc. | 4.25% | 2/15/2029 | 3,885,000 | 3,899,569 | ||||||||
| Sphere Entertainment Co. | 3.50% | 12/1/2028 | 2,882,000 | 11,690,833 | ||||||||
| Total | 15,590,402 | |||||||||||
| Mining 0.09% | ||||||||||||
| MP Materials Corp.† | 3.00% | 3/1/2030 | 2,743,000 | 8,666,508 | ||||||||
| Oil & Gas 0.28% | ||||||||||||
| Nabors Industries, Inc. | 1.75% | 6/15/2029 | 8,085,000 | 7,777,770 | ||||||||
| Transocean International Ltd. | 4.625% | 9/30/2029 | 9,521,000 | 19,876,040 | ||||||||
| Total | 27,653,810 | |||||||||||
| 58 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | |||||||||
| Oil & Gas Services 0.05% | |||||||||||||
| Atlas Energy Solutions, Inc.† | 0.50% | 4/15/2031 | $ | 3,805,000 | $ | 5,299,223 | |||||||
| REITS 0.43% | |||||||||||||
| Blackstone Mortgage Trust, Inc. | 5.50% | 3/15/2027 | 4,307,000 | 4,307,000 | |||||||||
| COPT Defense Properties LP† | 5.25% | 9/15/2028 | 9,990,000 | 11,701,112 | |||||||||
| Digital Realty Trust LP† | 1.875% | 11/15/2029 | 9,010,000 | 10,131,745 | |||||||||
| Kite Realty Group LP† | 0.75% | 4/1/2027 | 3,590,000 | 4,092,133 | |||||||||
| Pebblebrook Hotel Trust† | 1.625% | 1/15/2030 | 4,560,000 | 4,977,240 | |||||||||
| Welltower OP LLC† | 2.75% | 5/15/2028 | 3,645,000 | 8,323,358 | |||||||||
| Total | 43,532,588 | ||||||||||||
| Retail 0.15% | |||||||||||||
| Freshpet, Inc.(c) | 3.00% | 4/1/2028 | 12,297,000 | 15,128,999 | |||||||||
| Semiconductors 0.10% | |||||||||||||
| Camtek Ltd. (Israel)†(d) | Zero Coupon | 9/15/2030 | 2,635,000 | 5,028,107 | |||||||||
| Veeco Instruments, Inc. | 2.875% | 6/1/2029 | 2,705,000 | 4,942,711 | |||||||||
| Total | 9,970,818 | ||||||||||||
| Software 0.36% | |||||||||||||
| Akamai Technologies, Inc. | 1.125% | 2/15/2029 | 8,640,000 | 9,609,840 | |||||||||
| Cloudflare, Inc.† | Zero Coupon | 6/15/2030 | 10,290,000 | 11,838,605 | |||||||||
| Nebius Group NV (Netherlands)†(c)(d) | 1.00% | 9/15/2030 | 3,550,000 | 4,598,315 | |||||||||
| Strategy, Inc. | 0.625% | 3/15/2030 | 7,280,000 | 9,984,520 | |||||||||
| Total | 36,031,280 | ||||||||||||
| Telecommunications 0.14% | |||||||||||||
| AST SpaceMobile, Inc.† | 2.375% | 10/15/2032 | 3,669,000 | 5,106,331 | |||||||||
| GDS Holdings Ltd. (China)(d) | 4.50% | 1/31/2030 | 5,010,000 | 9,333,630 | |||||||||
| Total | 14,439,961 | ||||||||||||
| Total Convertible Bonds (cost $289,845,579) | 299,314,503 | ||||||||||||
| Dividend Rate | Shares | ||||||||||||
| CONVERTIBLE PREFERRED STOCKS 0.69% | |||||||||||||
| Aerospace & Defense 0.05% | |||||||||||||
| VSE Corp. | 5.75% | 105,567 | 4,976,428 | ||||||||||
| Capital Markets 0.17% | |||||||||||||
| ARES Management Corp. | 6.750% | 128,815 | 4,978,700 | ||||||||||
| KKR & Co., Inc.(c) | 6.250% | 270,110 | 12,109,031 | ||||||||||
| Total | 17,087,731 | ||||||||||||
| See Notes to Schedule of Investments. | 59 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Dividend Rate | Shares | Fair Value | ||||||||||
| Chemicals 0.11% | |||||||||||||
| Albemarle Corp. | 7.25% | 136,215 | $ | 10,708,595 | |||||||||
| Electric: Utilities 0.22% | |||||||||||||
| NextEra Energy, Inc. | 7.375% | 192,660 | 10,105,017 | ||||||||||
| PPL Corp. | 7.000% | 224,494 | 11,333,580 | ||||||||||
| Total | 21,438,597 | ||||||||||||
| Financial Services 0.05% | |||||||||||||
| Apollo Global Management, Inc. | 6.75% | 81,140 | 5,347,117 | ||||||||||
| Software 0.09% | |||||||||||||
| Oracle Corp. | 6.50% | 186,744 | 9,176,600 | ||||||||||
| Total Convertible Preferred Stocks (cost $68,066,359) | 68,735,068 | ||||||||||||
| Interest Rate | Maturity Date | Principal Amount‡ | |||||||||||
| CORPORATE BONDS 89.02% | |||||||||||||
| Advertising 0.14% | |||||||||||||
| CMG Media Corp.†(c) | 8.875% | 6/18/2029 | $ | 16,085,580 | 14,347,848 | ||||||||
| Aerospace/Defense 1.18% | |||||||||||||
| Bombardier, Inc. (Canada)†(d) | 7.25% | 7/1/2031 | 9,165,000 | 9,654,769 | |||||||||
| Bombardier, Inc. (Canada)†(d) | 7.50% | 2/1/2029 | 18,460,000 | 19,189,429 | |||||||||
| Czechoslovak Group AS (Czech Republic)†(d) | 6.50% | 1/10/2031 | 23,628,000 | 24,321,654 | |||||||||
| Efesto Bidco SpA Efesto U.S. LLC (Italy)†(d) | 7.50% | 2/15/2032 | 32,178,000 | 32,088,519 | |||||||||
| Goat Holdco LLC† | 6.75% | 2/1/2032 | 18,300,000 | 18,767,528 | |||||||||
| TransDigm, Inc.† | 6.875% | 12/15/2030 | 13,290,000 | 13,707,771 | |||||||||
| Total | 117,729,670 | ||||||||||||
| Agriculture 0.14% | |||||||||||||
| MHP Lux SA (Luxembourg)†(c)(d) | 10.50% | 7/28/2029 | 9,922,000 | 10,187,052 | |||||||||
| MHP Lux SA (Luxembourg)(d) | 10.50% | 7/28/2029 | 3,199,000 | 3,284,456 | |||||||||
| MHP Lux SA (Luxembourg)(d) | 10.50% | 7/28/2029 | 800,000 | 821,371 | |||||||||
| Total | 14,292,879 | ||||||||||||
| Airlines 1.53% | |||||||||||||
| American Airlines, Inc.† | 7.25% | 2/15/2028 | 24,233,000 | 24,571,269 | |||||||||
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.† | 5.75% | 4/20/2029 | 16,225,000 | 16,247,863 | |||||||||
| JetBlue Airways Corp./JetBlue Loyalty LP† | 9.875% | 9/20/2031 | 28,520,000 | 26,599,419 | |||||||||
| United Airlines Holdings, Inc.(c) | 5.375% | 3/1/2031 | 18,275,000 | 18,034,937 | |||||||||
| VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(d) | 6.375% | 2/1/2030 | 19,700,000 | 18,466,577 | |||||||||
| 60 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Airlines (continued) | ||||||||||||
| VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(b)(d) | 8.75% | 1/15/2032 | $ | 10,100,000 | $ | 9,791,455 | ||||||
| VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(c)(d) | 9.50% | 6/1/2028 | 39,121,000 | 39,581,325 | ||||||||
| Total | 153,292,845 | |||||||||||
| Apparel 0.29% | ||||||||||||
| William Carter Co.† | 7.375% | 2/15/2031 | 28,180,000 | 29,003,144 | ||||||||
| Auto Manufacturers 2.32% | ||||||||||||
| Aston Martin Capital Holdings Ltd. (United Kingdom)†(c)(d) | 10.00% | 3/31/2029 | 10,566,000 | 8,489,781 | ||||||||
| Ford Motor Credit Co. LLC | 7.20% | 6/10/2030 | 32,800,000 | 34,711,843 | ||||||||
| General Motors Co. | 5.625% | 4/15/2030 | 9,600,000 | 9,885,961 | ||||||||
| JB Poindexter & Co., Inc.† | 8.75% | 12/15/2031 | 31,611,000 | 32,796,191 | ||||||||
| Nissan Motor Acceptance Co. LLC† | 6.125% | 9/30/2030 | 13,772,000 | 13,571,135 | ||||||||
| Nissan Motor Acceptance Co. LLC† | 7.05% | 9/15/2028 | 5,820,000 | 5,971,874 | ||||||||
| Nissan Motor Co. Ltd. (Japan)†(d) | 4.81% | 9/17/2030 | 15,170,000 | 14,181,209 | ||||||||
| Nissan Motor Co. Ltd. (Japan)†(d) | 7.50% | 7/17/2030 | 57,035,001 | 58,983,826 | ||||||||
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC† | 10.00% | 1/15/2031 | 18,376,000 | 18,302,066 | ||||||||
| Wabash National Corp.†(c) | 4.50% | 10/15/2028 | 39,498,000 | 34,908,672 | ||||||||
| Total | 231,802,558 | |||||||||||
| Auto Parts & Equipment 1.95% | ||||||||||||
| American Axle & Manufacturing, Inc.(c) | 5.00% | 10/1/2029 | 5,075,000 | 4,934,378 | ||||||||
| Cooper-Standard Automotive, Inc.† | 9.25% | 3/1/2031 | 15,649,000 | 15,047,296 | ||||||||
| Cyprium Corp./Cyprium Holdings Luxembourg SARL† | 6.125% | 4/15/2031 | 24,789,000 | 25,022,116 | ||||||||
| Dexko Global, Inc.†(c) | 7.50% | 4/15/2032 | 32,906,440 | 29,630,933 | ||||||||
| Forvia SE (France)†(c)(d) | 8.00% | 6/15/2030 | 27,406,000 | 28,839,169 | ||||||||
| Goodyear Tire & Rubber Co. | 6.625% | 7/15/2030 | 10,665,000 | 10,563,798 | ||||||||
| IHO Verwaltungs GmbH (Germany)†(d) | 6.375% | 5/15/2029 | 4,700,000 | 4,723,824 | ||||||||
| IHO Verwaltungs GmbH (Germany)†(d) | 7.75% | 11/15/2030 | 15,125,000 | 15,593,603 | ||||||||
| Tenneco, Inc.† | 8.00% | 11/17/2028 | 13,820,000 | 13,992,225 | ||||||||
| ZF North America Capital, Inc.† | 6.75% | 4/23/2030 | 7,680,000 | 7,632,945 | ||||||||
| ZF North America Capital, Inc.† | 6.875% | 4/14/2028 | 5,850,000 | 5,997,005 | ||||||||
| ZF North America Capital, Inc.† | 7.125% | 4/14/2030 | 23,306,000 | 23,382,001 | ||||||||
| ZF North America Capital, Inc.† | 7.50% | 3/24/2031 | 9,750,000 | 9,769,232 | ||||||||
| Total | 195,128,525 | |||||||||||
| Banks 2.62% | ||||||||||||
| Armor Holdco, Inc.† | 8.50% | 11/15/2029 | 5,000,000 | 4,965,174 | ||||||||
| Bank of Nova Scotia (Canada)(d) | 7.35% (5 yr. CMT + 2.90% | )# | 4/27/2085 | 10,450,000 | 10,823,358 | |||||||
| Citigroup, Inc. | 6.95% (5 yr. CMT + 2.73% | )# | – | (e) | 34,027,000 | 34,651,327 | ||||||
| See Notes to Schedule of Investments. | 61 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Banks (continued) | ||||||||||||
| First Citizens BancShares, Inc. | 7.00% (5 yr. CMT + 3.30% | )# | – | (e) | $ | 9,625,000 | $ | 9,710,037 | ||||
| Flagstar Bank NA | 6.707% (3 mo. USD Term SOFR + 3.04% | )# | 11/6/2028 | 13,316,000 | 12,756,475 | |||||||
| Freedom Mortgage Corp.† | 12.25% | 10/1/2030 | 15,725,000 | 17,074,048 | ||||||||
| Goldman Sachs Group, Inc. | 6.85% (5 yr. CMT + 2.46% | )# | – | (e) | 30,680,000 | 31,627,736 | ||||||
| Huntington Bancshares, Inc. | 6.25% (5 yr. CMT + 2.65% | )# | – | (e) | 18,790,000 | 18,828,519 | ||||||
| Popular, Inc. | 7.25% | 3/13/2028 | 8,530,000 | 8,868,436 | ||||||||
| Societe Generale SA (France)†(d) | 9.375% (5 yr. CMT + 5.39% | )# | – | (e) | 5,308,000 | 5,601,044 | ||||||
| State Street Corp. | 6.45% (5 yr. CMT + 2.14% | )# | – | (e) | 21,864,000 | 22,362,412 | ||||||
| Toronto-Dominion Bank (Canada)(d) | 6.35% (5 yr. CMT + 2.72% | )# | 10/31/2085 | 8,648,000 | 8,711,589 | |||||||
| Toronto-Dominion Bank (Canada)(d) | 7.25% (5 yr. CMT + 2.98% | )# | 7/31/2084 | 8,350,000 | 8,679,341 | |||||||
| UBS Group AG (Switzerland)†(c)(d) | 7.00% (5 yr. USD SOFR ICE Swap + 3.08% | )# | – | (e) | 34,043,000 | 34,826,840 | ||||||
| Valley National Bancorp(c) | 3.00% (3 mo. USD Term SOFR + 2.36% | )# | 6/15/2031 | 22,885,000 | 22,138,676 | |||||||
| Western Alliance Bancorp | 3.00% (3 mo. USD Term SOFR + 2.25% | )# | 6/15/2031 | 10,260,000 | 9,900,900 | |||||||
| Total | 261,525,912 | |||||||||||
| Biotechnology 0.14% | ||||||||||||
| Emergent BioSolutions, Inc.† | 3.875% | 8/15/2028 | 16,215,000 | 14,444,721 | ||||||||
| Building Materials 2.58% | ||||||||||||
| ACProducts Holdings, Inc.† | 6.375% | 5/15/2029 | 5,165,000 | 2,427,550 | ||||||||
| Builders FirstSource, Inc.† | 6.375% | 6/15/2032 | 4,128,000 | 4,160,070 | ||||||||
| Camelot Return Merger Sub, Inc.† | 8.75% | 8/1/2028 | 25,050,000 | 16,219,408 | ||||||||
| Cornerstone Building Brands, Inc.† | 9.50% | 8/15/2029 | 14,650,000 | 9,390,105 | ||||||||
| CP Atlas Buyer, Inc.†(c) | 7.00% | 12/1/2028 | 11,512,000 | 10,347,598 | ||||||||
| CP Atlas Buyer, Inc.†(c) | 9.75% | 7/15/2030 | 12,450,000 | 11,584,681 | ||||||||
| CP Atlas Buyer, Inc.†(c) | 12.75% | 1/15/2031 | 14,270,762 | 10,573,562 | ||||||||
| EMRLD Borrower LP/Emerald Co-Issuer, Inc.† | 6.625% | 12/15/2030 | 19,000,000 | 19,475,551 | ||||||||
| Griffon Corp. | 5.75% | 3/1/2028 | 22,562,000 | 22,522,268 | ||||||||
| JELD-WEN Holding, Inc.† | 7.00% | 9/1/2032 | 12,554,000 | 6,414,918 | ||||||||
| JELD-WEN, Inc.†(c) | 4.875% | 12/15/2027 | 24,000,000 | 17,894,822 | ||||||||
| MIWD Holdco II LLC/MIWD Finance Corp.†(c) | 5.50% | 2/1/2030 | 39,475,000 | 36,448,448 | ||||||||
| Smyrna Ready Mix Concrete LLC† | 6.00% | 11/1/2028 | 35,678,000 | 35,674,001 | ||||||||
| Smyrna Ready Mix Concrete LLC† | 8.875% | 11/15/2031 | 6,000,000 | 6,285,852 | ||||||||
| 62 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Building Materials (continued) | ||||||||||||
| Standard Building Solutions, Inc.† | 6.50% | 8/15/2032 | $ | 19,225,000 | $ | 19,430,227 | ||||||
| West China Cement Ltd. (China)(d) | 9.90% | 12/4/2028 | 10,150,000 | 9,591,574 | ||||||||
| West China Cement Ltd. (China)(d) | 9.90% | 12/4/2028 | 2,300,000 | 2,173,460 | ||||||||
| West China Cement Ltd. (China)(d) | 10.50% | 11/11/2029 | 7,100,000 | 6,637,073 | ||||||||
| Wilsonart LLC†(c) | 11.00% | 8/15/2032 | 13,275,000 | 10,275,455 | ||||||||
| Total | 257,526,623 | |||||||||||
| Chemicals 3.10% | ||||||||||||
| Advancion Sciences, Inc.† | 9.25% | 11/1/2026 | 19,425,719 | 15,686,268 | ||||||||
| ASP Unifrax Holdings, Inc.† | 7.10% | 9/30/2029 | 13,437,946 | 167,974 | ||||||||
| ASP Unifrax Holdings, Inc.† | 11.175% | 9/30/2029 | 10,948,413 | 4,570,962 | ||||||||
| Celanese U.S. Holdings LLC(c) | 6.50% | 4/15/2030 | 43,220,000 | 44,238,868 | ||||||||
| Celanese U.S. Holdings LLC | 6.85% | 11/15/2028 | 5,347,000 | 5,596,165 | ||||||||
| Celanese U.S. Holdings LLC(c) | 7.00% | 2/15/2031 | 18,910,000 | 19,688,771 | ||||||||
| Celanese U.S. Holdings LLC | 7.05% | 11/15/2030 | 16,600,000 | 17,829,645 | ||||||||
| Celanese U.S. Holdings LLC | 7.379% | 7/15/2032 | 5,775,000 | 6,124,255 | ||||||||
| Cerdia Finanz GmbH (Germany)†(d) | 9.375% | 10/3/2031 | 32,612,000 | 31,389,050 | ||||||||
| Chemours Co.† | 4.625% | 11/15/2029 | 7,200,000 | 6,911,443 | ||||||||
| Chemours Co.† | 5.75% | 11/15/2028 | 14,662,000 | 14,639,357 | ||||||||
| CVR Partners LP/CVR Nitrogen Finance Corp.† | 6.125% | 6/15/2028 | 27,085,000 | 27,087,714 | ||||||||
| FMC Corp. | 8.45% (5 yr. CMT + 4.37% | )# | 11/1/2055 | 14,650,000 | 9,719,012 | |||||||
| INEOS Finance PLC (United Kingdom)†(d) | 6.75% | 5/15/2028 | 10,300,000 | 10,352,829 | ||||||||
| INEOS Finance PLC | 7.25% | 3/31/2031 | EUR | 8,650,000 | 9,871,990 | |||||||
| INEOS Finance PLC (United Kingdom)†(d) | 7.50% | 4/15/2029 | $ | 10,550,000 | 10,428,028 | |||||||
| INEOS Quattro Finance 2 PLC (United Kingdom)†(c)(d) | 9.625% | 3/15/2029 | 5,525,000 | 5,366,156 | ||||||||
| Mativ Holdings, Inc.†(c) | 8.00% | 10/1/2029 | 9,260,000 | 8,973,794 | ||||||||
| Rain Carbon, Inc.†(c) | 12.25% | 9/1/2029 | 29,609,000 | 31,189,440 | ||||||||
| Tronox, Inc.† | 4.625% | 3/15/2029 | 30,147,000 | 25,254,296 | ||||||||
| Tronox, Inc.†(c) | 9.125% | 9/30/2030 | 4,800,000 | 4,881,600 | ||||||||
| Total | 309,967,617 | |||||||||||
| Coal 0.85% | ||||||||||||
| Alliance Resource Operating Partners LP/Alliance Resource Finance Corp.† | 8.625% | 6/15/2029 | 18,686,000 | 19,549,312 | ||||||||
| Coronado Finance Pty. Ltd. (Australia)†(d) | 9.25% | 10/1/2029 | 34,484,000 | 31,300,945 | ||||||||
| Indika Energy Tbk. PT (Indonesia)†(c)(d) | 8.75% | 5/7/2029 | 7,750,000 | 7,903,334 | ||||||||
| SunCoke Energy, Inc.† | 4.875% | 6/30/2029 | 28,529,000 | 26,325,466 | ||||||||
| Total | 85,079,057 | |||||||||||
| See Notes to Schedule of Investments. | 63 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Commercial Services 4.19% | ||||||||||||
| Albion Financing 1 SARL/Aggreko Holdings, Inc. (Luxembourg)†(d) | 7.00% | 5/21/2030 | $ | 36,097,000 | $ | 37,306,971 | ||||||
| Allied Universal Holdco LLC/Allied Universal Finance Corp.† | 6.875% | 6/15/2030 | 35,513,000 | 36,562,814 | ||||||||
| Alta Equipment Group, Inc.†(c) | 9.00% | 6/1/2029 | 33,291,000 | 31,778,450 | ||||||||
| AMN Healthcare, Inc.† | 6.50% | 1/15/2031 | 726,000 | 723,855 | ||||||||
| BCP V Modular Services Finance II PLC | 6.125% | 11/30/2028 | GBP | 10,350,000 | 13,340,631 | |||||||
| BCP V Modular Services Finance PLC | 6.75% | 11/30/2029 | EUR | 16,950,000 | 14,030,347 | |||||||
| CoreCivic, Inc. | 8.25% | 4/15/2029 | $ | 14,612,000 | 15,230,847 | |||||||
| Dcli Bidco LLC† | 7.75% | 11/15/2029 | 33,150,000 | 34,166,014 | ||||||||
| EquipmentShare.com, Inc.† | 9.00% | 5/15/2028 | 35,224,000 | 36,562,301 | ||||||||
| GEO Group, Inc. | 8.625% | 4/15/2029 | 7,035,000 | 7,323,379 | ||||||||
| GEO Group, Inc. | 10.25% | 4/15/2031 | 5,290,000 | 5,680,262 | ||||||||
| Herc Holdings, Inc.† | 7.00% | 6/15/2030 | 17,463,000 | 18,178,599 | ||||||||
| Hertz Corp.*(f) | Zero Coupon | 10/15/2022 | 2,000 | – | ||||||||
| Hertz Corp.† | Zero Coupon | 10/15/2049 | 22,000 | – | ||||||||
| Hertz Corp.†(c) | 12.625% | 7/15/2029 | 18,243,000 | 17,209,977 | ||||||||
| ION Platform Finance U.S., Inc.† | 7.875% | 9/30/2032 | 9,575,000 | 7,452,954 | ||||||||
| NESCO Holdings II, Inc.† | 5.50% | 4/15/2029 | 16,936,000 | 16,864,920 | ||||||||
| Rekeep SpA | 9.00% | 9/15/2029 | EUR | 12,059,000 | 10,841,836 | |||||||
| RR Donnelley & Sons Co.† | 9.50% | 8/1/2029 | $ | 40,102,000 | 41,425,767 | |||||||
| Sotheby’s† | 8.25% | 4/15/2031 | 18,601,000 | 18,085,663 | ||||||||
| Synergy Infrastructure Holdings LLC† | 7.875% | 12/1/2030 | 14,298,000 | 15,047,272 | ||||||||
| Veritiv Operating Co.† | 10.50% | 11/30/2030 | 27,246,000 | 28,745,206 | ||||||||
| Williams Scotsman, Inc.† | 6.625% | 4/15/2030 | 11,828,000 | 12,190,363 | ||||||||
| Total | 418,748,428 | |||||||||||
| Computers 0.14% | ||||||||||||
| PCC Global PLC | 8.25% | 11/15/2030 | EUR | 4,800,000 | 4,924,529 | |||||||
| Pitney Bowes, Inc.† | 6.875% | 3/15/2027 | $ | 7,735,000 | 7,761,932 | |||||||
| Pitney Bowes, Inc.† | 7.25% | 3/15/2029 | 1,391,000 | 1,402,374 | ||||||||
| Total | 14,088,835 | |||||||||||
| Cosmetics/Personal Care 0.25% | ||||||||||||
| P&L Development LLC/PLD Finance Corp.† | 12.00% | 5/15/2029 | 25,148,129 | 25,085,133 | ||||||||
| Distribution/Wholesale 0.31% | ||||||||||||
| Velocity Vehicle Group LLC† | 8.00% | 6/1/2029 | 31,587,000 | 31,111,530 | ||||||||
| Diversified Financial Services 7.48% | ||||||||||||
| Ally Financial, Inc. | 4.70% (5 yr. CMT + 3.87% | )# | – | (e) | 6,929,000 | 6,915,215 | ||||||
| Ally Financial, Inc.(b) | 7.10% (5 yr. CMT + 3.15% | )# | – | (e) | 19,953,000 | 19,944,676 | ||||||
| Ally Financial, Inc. | 8.00% | 11/1/2031 | 11,520,000 | 12,871,923 | ||||||||
| 64 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Diversified Financial Services (continued) | ||||||||||||
| Aretec Group, Inc.† | 10.00% | 8/15/2030 | $ | 26,317,000 | $ | 27,905,389 | ||||||
| Atlanticus Holdings Corp.† | 9.75% | 9/1/2030 | 19,893,000 | 19,708,329 | ||||||||
| Avolon Holdings Funding Ltd. (Ireland)†(d) | 5.375% | 5/30/2030 | 9,600,000 | 9,725,577 | ||||||||
| Avolon Holdings Funding Ltd. (Ireland)†(d) | 5.75% | 11/15/2029 | 9,620,000 | 9,860,715 | ||||||||
| Azorra Finance Ltd. (Cayman Islands)†(d) | 7.25% | 1/15/2031 | 15,982,000 | 16,382,269 | ||||||||
| Bread Financial Holdings, Inc.† | 6.75% | 5/15/2031 | 8,276,000 | 8,465,471 | ||||||||
| CrossCountry Intermediate HoldCo LLC† | 6.50% | 10/1/2030 | 29,777,000 | 29,291,801 | ||||||||
| Freedom Funding Center LLC†(c) | 12.00% | 10/1/2037 | 8,650,000 | 8,812,188 | ||||||||
| Freedom Mortgage Holdings LLC† | 9.125% | 5/15/2031 | 21,030,000 | 21,808,404 | ||||||||
| Freedom Mortgage Holdings LLC† | 9.25% | 2/1/2029 | 8,402,000 | 8,709,093 | ||||||||
| GGAM Finance Ltd. (Ireland)†(d) | 5.875% | 3/15/2030 | 8,345,000 | 8,427,365 | ||||||||
| GGAM Finance Ltd. (Ireland)†(d) | 6.875% | 4/15/2029 | 7,074,000 | 7,244,696 | ||||||||
| GGAM Finance Ltd. (Ireland)†(d) | 8.00% | 6/15/2028 | 15,577,000 | 16,235,767 | ||||||||
| ILFC E-Capital Trust I† | 6.38% | # | 12/21/2065 | 21,756,000 | 18,665,079 | |||||||
| ILFC E-Capital Trust II† | 6.63% | # | 12/21/2065 | 13,901,000 | 12,220,390 | |||||||
| Jefferies Finance LLC/JFIN Co-Issuer Corp.† | 5.00% | 8/15/2028 | 10,239,000 | 9,828,715 | ||||||||
| Jefferies Finance LLC/JFIN Co-Issuer Corp.† | 6.625% | 10/15/2031 | 9,600,000 | 9,397,958 | ||||||||
| Jefferson Capital Holdings LLC†(c) | 8.25% | 5/15/2030 | 7,655,000 | 8,015,099 | ||||||||
| LFS Topco LLC†(c) | 8.75% | 7/15/2030 | 19,383,000 | 18,742,448 | ||||||||
| Macquarie Airfinance Holdings Ltd. (United Kingdom)†(d) | 6.50% | 3/26/2031 | 31,595,000 | 33,036,511 | ||||||||
| Midcap Financial Issuer Trust† | 6.50% | 5/1/2028 | 11,695,000 | 11,609,874 | ||||||||
| Navient Corp. | 9.375% | 7/25/2030 | 19,626,000 | 20,379,481 | ||||||||
| OneMain Finance Corp. | 6.125% | 5/15/2030 | 13,888,000 | 13,889,417 | ||||||||
| OneMain Finance Corp. | 6.625% | 1/15/2028 | 57,967,000 | 58,821,086 | ||||||||
| OneMain Finance Corp. | 6.625% | 5/15/2029 | 9,650,000 | 9,828,381 | ||||||||
| OneMain Finance Corp. | 7.875% | 3/15/2030 | 11,665,000 | 12,167,190 | ||||||||
| PennyMac Financial Services, Inc.† | 4.25% | 2/15/2029 | 15,375,000 | 14,699,639 | ||||||||
| PennyMac Financial Services, Inc.† | 6.875% | 5/15/2032 | 9,700,000 | 9,601,007 | ||||||||
| PennyMac Financial Services, Inc.† | 7.125% | 11/15/2030 | 23,775,000 | 24,101,169 | ||||||||
| PHH Escrow Issuer LLC/PHH Corp.† | 9.875% | 11/1/2029 | 26,369,000 | 26,650,726 | ||||||||
| Phoenix Aviation Capital Ltd. (Ireland)†(c)(d) | 9.25% | 7/15/2030 | 9,404,000 | 9,605,227 | ||||||||
| Planet Financial Group LLC† | 10.50% | 12/15/2029 | 23,800,000 | 23,148,330 | ||||||||
| PRA Group, Inc.† | 5.00% | 10/1/2029 | 5,725,000 | 5,438,571 | ||||||||
| Provident Funding Associates LP/PFG Finance Corp.† | 9.75% | 9/15/2029 | 14,190,000 | 14,811,664 | ||||||||
| Rfna LP† | 7.875% | 2/15/2030 | 30,850,000 | 30,643,037 | ||||||||
| Rocket Cos., Inc.† | 6.50% | 8/1/2029 | 5,784,000 | 5,899,327 | ||||||||
| Sammaan Capital Ltd. (India)†(d) | 8.95% | 8/28/2028 | 14,000,000 | 14,495,093 | ||||||||
| Stonebriar ABF Issuer LLC† | 8.125% | 12/15/2030 | 9,698,000 | 10,192,026 | ||||||||
| See Notes to Schedule of Investments. | 65 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Diversified Financial Services (continued) | ||||||||||||
| Sumisho Air Lease Corp. | 6.00% (5 yr. CMT + 2.56% | )# | – | (e) | $ | 12,613,000 | $ | 12,292,848 | ||||
| UWM Holdings LLC† | 6.25% | 3/15/2031 | 36,728,000 | 34,085,483 | ||||||||
| Velocity Commercial Capital LLC† | 9.375% | 2/15/2031 | 28,423,000 | 29,426,417 | ||||||||
| VFH Parent LLC/Valor Co-Issuer, Inc.† | 7.50% | 6/15/2031 | 13,150,000 | 13,817,126 | ||||||||
| Total | 747,818,197 | |||||||||||
| Electric 2.35% | ||||||||||||
| AES Corp. | 7.60% (5 yr. CMT + 3.20% | )# | 1/15/2055 | 19,443,000 | 19,817,978 | |||||||
| American Electric Power Co., Inc. | 5.80% (5 yr. CMT + 2.13% | )# | 3/15/2056 | 20,644,000 | 20,541,983 | |||||||
| CenterPoint Energy, Inc. | 5.95% (5 yr. CMT + 2.22% | )# | 4/1/2056 | 14,098,000 | 14,048,888 | |||||||
| ContourGlobal Power Holdings SA (Luxembourg)†(d) | 6.75% | 2/28/2030 | 20,376,000 | 20,707,110 | ||||||||
| Emera U.S. Finance LLC | 6.65% (5 yr. CMT + 2.87% | )# | 10/1/2056 | 14,650,000 | 14,692,661 | |||||||
| NRG Energy, Inc.† | 4.734% | 10/15/2030 | 14,400,000 | 14,253,810 | ||||||||
| NRG Energy, Inc.† | 10.25% (5 yr. CMT + 5.92% | )# | – | (e) | 10,704,000 | 11,633,016 | ||||||
| PG&E Corp. | 7.375% (5 yr. CMT + 3.88% | )# | 3/15/2055 | 33,600,000 | 34,581,187 | |||||||
| Puget Energy, Inc.† | 7.00% (5 yr. CMT + 2.96% | )# | 9/15/2056 | 11,183,000 | 11,256,495 | |||||||
| TXNM Energy, Inc.† | 7.00% (5 yr. CMT + 3.25% | )# | 7/31/2056 | 9,434,000 | 9,408,885 | |||||||
| Vistra Corp.† | 7.00% (5 yr. CMT + 5.74% | )# | – | (e) | 18,308,000 | 18,408,621 | ||||||
| Vistra Corp.† | 8.875% (5 yr. CMT + 5.05% | )# | – | (e) | 10,130,000 | 10,957,428 | ||||||
| XPLR Infrastructure Operating Partners LP†(c) | 7.25% | 1/15/2029 | 11,475,000 | 11,938,911 | ||||||||
| XPLR Infrastructure Operating Partners LP†(c) | 8.375% | 1/15/2031 | 21,650,000 | 23,144,413 | ||||||||
| Total | 235,391,386 | |||||||||||
| Electronics 0.20% | ||||||||||||
| Flex Ltd. | 5.25% | 1/15/2032 | 19,475,000 | 19,599,575 | ||||||||
| Engineering & Construction 0.33% | ||||||||||||
| Brand Industrial Services, Inc.† | 10.375% | 8/1/2030 | 21,348,000 | 19,679,867 | ||||||||
| Heathrow Finance PLC | 6.625% | 3/1/2031 | GBP | 9,600,000 | 13,033,487 | |||||||
| Total | 32,713,354 | |||||||||||
| 66 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Entertainment 2.28% | ||||||||||||
| 888 Acquisitions Ltd. | 10.75% | 5/15/2030 | GBP | 17,504,000 | $ | 23,460,863 | ||||||
| Bracelet Holdings, Inc.† | 9.25% | 7/2/2028 | $ | 13,450,000 | 12,838,025 | (a) | ||||||
| Empire Resorts, Inc.† | 7.75% | 11/1/2026 | 30,024,000 | 29,340,410 | ||||||||
| Intralot Capital Luxembourg SA | 6.75% | 10/15/2031 | EUR | 12,775,000 | 14,634,657 | |||||||
| Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC† | 11.875% | 4/15/2031 | $ | 18,560,000 | 19,930,786 | |||||||
| Motion Bondco DAC (Ireland)†(c)(d) | 6.625% | 11/15/2027 | 15,850,000 | 15,224,982 | ||||||||
| Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada)†(c)(d) | 8.00% | 8/1/2030 | 19,226,000 | 19,009,471 | ||||||||
| Pinewood Finco PLC | 6.00% | 3/27/2030 | GBP | 7,000,000 | 9,443,454 | |||||||
| Resorts World Las Vegas LLC/RWLV Capital, Inc.† | 8.45% | 7/27/2030 | $ | 19,500,000 | 19,337,364 | |||||||
| SeaWorld Parks & Entertainment, Inc.†(c) | 5.25% | 8/15/2029 | 14,900,000 | 14,414,288 | ||||||||
| Six Flags Entertainment Corp.†(c) | 7.25% | 5/15/2031 | 24,828,000 | 24,504,943 | ||||||||
| Six Flags Entertainment Corp./ Canada’s Wonderland Co./Millennium Operations LLC† | 8.625% | 1/15/2032 | 10,100,000 | 10,273,882 | ||||||||
| Starz Capital Holdings 1, Inc.† | 6.00% | 4/15/2030 | 16,760,000 | 15,859,150 | ||||||||
| Total | 228,272,275 | |||||||||||
| Environmental Control 0.20% | ||||||||||||
| Biffa Group Holdings Ltd. | 7.375% | 6/15/2031 | GBP | 7,445,000 | 10,162,510 | |||||||
| Biffa Group Holdings Ltd.† | 7.38% | 6/15/2031 | GBP | 7,503,000 | 10,241,681 | |||||||
| Total | 20,404,191 | |||||||||||
| Food 1.37% | ||||||||||||
| Bellis Acquisition Co. PLC | 8.00% | 7/1/2031 | EUR | 4,250,000 | 4,770,080 | |||||||
| Bellis Acquisition Co. PLC† | 8.125% | 5/14/2030 | GBP | 4,788,000 | 6,032,798 | |||||||
| Bellis Acquisition Co. PLC | 8.125% | 5/14/2030 | GBP | 16,825,000 | 21,199,211 | |||||||
| C&S Group Enterprises LLC†(c) | 5.00% | 12/15/2028 | $ | 23,427,000 | 21,953,563 | |||||||
| Flora Food Management BV | 6.875% | 7/2/2029 | EUR | 15,675,000 | 17,794,171 | |||||||
| Grupo Nutresa SA (Colombia)(c)(d) | 8.00% | 5/12/2030 | $ | 9,675,000 | 10,219,319 | |||||||
| Iceland Bondco PLC | 4.375% | 5/15/2028 | GBP | 17,481,000 | 23,094,221 | |||||||
| Iceland Bondco PLC | 4.375% | 5/15/2028 | GBP | 1,569,000 | 2,072,812 | |||||||
| Market Bidco Finco PLC | 8.75% | 1/31/2031 | GBP | 22,899,000 | 29,655,722 | |||||||
| Total | 136,791,897 | |||||||||||
| Forest Products & Paper 0.20% | ||||||||||||
| Magnera Corp.†(c) | 4.75% | 11/15/2029 | $ | 5,800,000 | 5,317,581 | |||||||
| Magnera Corp.† | 7.25% | 11/15/2031 | 15,441,000 | 14,472,386 | ||||||||
| Total | 19,789,967 | |||||||||||
| Gas 0.10% | ||||||||||||
| Spire, Inc. | 6.25% (5 yr. CMT + 2.56% | )# | 6/1/2056 | 9,625,000 | 9,595,689 | |||||||
| See Notes to Schedule of Investments. | 67 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Health Care-Products 0.10% | ||||||||||||
| Embecta Corp.†(c) | 5.00% | 2/15/2030 | $ | 10,550,000 | $ | 9,918,016 | ||||||
| Health Care-Services 2.41% | ||||||||||||
| Acadia Healthcare Co., Inc.†(c) | 5.00% | 4/15/2029 | 7,280,000 | 7,128,397 | ||||||||
| Centene Corp. | 3.375% | 2/15/2030 | 10,500,000 | 9,762,041 | ||||||||
| Charles River Laboratories International, Inc.† | 3.75% | 3/15/2029 | 10,075,000 | 9,640,496 | ||||||||
| CHS/Community Health Systems, Inc.† | 5.25% | 5/15/2030 | 9,650,000 | 9,116,894 | ||||||||
| DaVita, Inc.† | 4.625% | 6/1/2030 | 9,875,000 | 9,563,963 | ||||||||
| Fortrea Holdings, Inc.†(c) | 7.50% | 7/1/2030 | 29,943,000 | 29,173,101 | ||||||||
| Heartland Dental LLC/Heartland Dental Finance Corp.† | 10.50% | 4/30/2028 | 7,012,000 | 7,217,578 | ||||||||
| Kedrion SpA (Italy)†(d) | 6.50% | 9/1/2029 | 43,476,000 | 42,605,865 | ||||||||
| Molina Healthcare, Inc.† | 4.375% | 6/15/2028 | 2,880,000 | 2,841,043 | ||||||||
| Molina Healthcare, Inc.† | 6.50% | 2/15/2031 | 26,700,000 | 27,199,284 | ||||||||
| National Mentor Holdings, Inc.† | 10.50% | 12/15/2030 | 10,103,000 | 10,574,955 | ||||||||
| Star Parent, Inc.† | 9.00% | 10/1/2030 | 24,100,000 | 25,276,176 | ||||||||
| Team Health Holdings, Inc.† | 8.375% | 6/30/2028 | 9,622,000 | 9,661,931 | ||||||||
| Tenet Healthcare Corp. | 6.125% | 10/1/2028 | 10,148,000 | 10,179,043 | ||||||||
| U.S. Acute Care Solutions LLC† | 9.75% | 5/15/2029 | 32,807,000 | 31,044,844 | ||||||||
| Total | 240,985,611 | |||||||||||
| Holding Companies-Diversified 0.14% | ||||||||||||
| Clue Opco LLC†(c) | 9.50% | 10/15/2031 | 9,319,000 | 9,546,430 | ||||||||
| Stena International SA (Luxembourg)†(d) | 7.25% | 1/15/2031 | 4,800,000 | 4,883,703 | ||||||||
| Total | 14,430,133 | |||||||||||
| Home Builders 1.44% | ||||||||||||
| Ashton Woods USA LLC/Ashton Woods Finance Co.† | 4.625% | 4/1/2030 | 6,735,000 | 6,417,253 | ||||||||
| Beazer Homes USA, Inc.† | 7.50% | 3/15/2031 | 18,186,000 | 18,133,555 | ||||||||
| Dream Finders Homes, Inc.† | 6.875% | 9/15/2030 | 20,929,000 | 20,541,610 | ||||||||
| Dream Finders Homes, Inc.† | 8.25% | 8/15/2028 | 12,341,000 | 12,658,447 | ||||||||
| K Hovnanian Enterprises, Inc.† | 8.00% | 4/1/2031 | 22,582,000 | 22,791,109 | ||||||||
| LGI Homes, Inc.† | 4.00% | 7/15/2029 | 16,325,000 | 14,823,693 | ||||||||
| LGI Homes, Inc.† | 8.75% | 12/15/2028 | 28,263,000 | 29,119,740 | ||||||||
| Maison Finco PLC† | 7.25% | 4/30/2032 | GBP | 5,080,000 | 6,558,983 | |||||||
| Miller Homes Group Finco PLC | 7.00% | 5/15/2029 | GBP | 10,203,000 | 13,306,399 | |||||||
| Total | 144,350,789 | |||||||||||
| Home Furnishings 0.20% | ||||||||||||
| Whirlpool Corp. | 6.125% | 6/15/2030 | 20,200,000 | 19,823,452 | ||||||||
| 68 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Insurance 0.83% | ||||||||||||
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer† | 6.75% | 4/15/2028 | $ | 13,761,000 | $ | 13,945,012 | ||||||
| AmWINS Group, Inc.† | 4.875% | 6/30/2029 | 10,075,000 | 9,750,482 | ||||||||
| Ardonagh Finco Ltd. (United Kingdom)†(d) | 7.75% | 2/15/2031 | 28,828,000 | 29,450,007 | ||||||||
| HUB International Ltd.† | 5.625% | 12/1/2029 | 5,300,000 | 5,237,040 | ||||||||
| Jones Deslauriers Insurance Management, Inc. (Canada)†(d) | 8.50% | 3/15/2030 | 9,647,000 | 9,949,482 | ||||||||
| Panther Escrow Issuer LLC† | 7.125% | 6/1/2031 | 14,400,000 | 14,475,567 | ||||||||
| Total | 82,807,590 | |||||||||||
| Internet 0.51% | ||||||||||||
| GrubHub Holdings, Inc.†(c) | 13.00% | 7/31/2030 | 7,301,624 | 6,017,559 | ||||||||
| Rakuten Group, Inc. (Japan)†(d) | 9.75% | 4/15/2029 | 33,279,000 | 36,537,393 | ||||||||
| Rakuten Group, Inc. (Japan)†(d) | 11.25% | 2/15/2027 | 8,274,000 | 8,610,057 | ||||||||
| Total | 51,165,009 | |||||||||||
| Investment Companies 0.69% | ||||||||||||
| ARES Strategic Income Fund | 5.70% | 3/15/2028 | 6,600,000 | 6,607,472 | ||||||||
| Blackstone Private Credit Fund | 5.95% | 7/16/2029 | 10,000,000 | 10,010,317 | ||||||||
| Compass Group Diversified Holdings LLC† | 5.25% | 4/15/2029 | 19,225,000 | 18,208,211 | ||||||||
| HA Sustainable Infrastructure Capital, Inc. | 6.15% | 1/15/2031 | 19,200,000 | 19,775,731 | ||||||||
| HA Sustainable Infrastructure Capital, Inc. | 7.125% (5 yr. CMT + 3.48% | )# | 11/15/2056 | 9,800,000 | 9,896,285 | |||||||
| Sixth Street Lending Partners | 6.50% | 3/11/2029 | 4,733,000 | 4,843,141 | ||||||||
| Total | 69,341,157 | |||||||||||
| Iron-Steel 1.18% | ||||||||||||
| Algoma Steel, Inc. (Canada)†(d) | 9.125% | 4/15/2029 | 32,859,000 | 30,542,457 | ||||||||
| Cleveland-Cliffs, Inc.† | 6.875% | 11/1/2029 | 13,921,000 | 14,196,422 | ||||||||
| Cleveland-Cliffs, Inc.† | 7.50% | 9/15/2031 | 13,009,000 | 13,293,273 | ||||||||
| CSN Inova Ventures (Cayman Islands)(d) | 6.75% | 1/28/2028 | 20,611,000 | 17,589,982 | ||||||||
| Mineral Resources Ltd. (Australia)†(d) | 6.00% | 5/1/2032 | 19,225,000 | 19,093,255 | ||||||||
| Samarco Mineracao SA (Brazil)(d) | 9.50% | 6/30/2031 | 22,883,739 | 22,972,780 | ||||||||
| Total | 117,688,169 | |||||||||||
| Leisure Time 1.57% | ||||||||||||
| Carnival Corp.† | 5.75% | 3/15/2030 | 26,486,000 | 26,884,456 | ||||||||
| Carnival Corp.† | 5.875% | 6/15/2031 | 33,525,000 | 34,020,298 | ||||||||
| Deuce Finco PLC | 7.00% | 11/20/2031 | GBP | 10,425,000 | 14,207,302 | |||||||
| Lindblad Expeditions LLC† | 7.00% | 9/15/2030 | $ | 31,985,000 | 32,874,727 | |||||||
| See Notes to Schedule of Investments. | 69 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Leisure Time (continued) | ||||||||||||
| NCL Corp. Ltd.† | 7.75% | 2/15/2029 | $ | 9,600,000 | $ | 10,025,971 | ||||||
| NCL Finance Ltd.† | 6.125% | 3/15/2028 | 16,460,000 | 16,709,451 | ||||||||
| Polaris, Inc. | 5.60% | 3/1/2031 | 9,600,000 | 9,581,110 | ||||||||
| Royal Caribbean Cruises Ltd.† | 5.50% | 4/1/2028 | 12,000,000 | 12,131,356 | ||||||||
| Total | 156,434,671 | |||||||||||
| Lodging 0.96% | ||||||||||||
| Full House Resorts, Inc.† | 8.25% | 2/15/2028 | 44,727,000 | 42,513,437 | ||||||||
| Genting New York LLC/GENNY Capital, Inc.† | 7.25% | 10/1/2029 | 14,543,000 | 14,776,421 | ||||||||
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.† | 5.00% | 6/1/2029 | 10,100,000 | 9,780,439 | ||||||||
| Las Vegas Sands Corp. | 5.625% | 6/15/2028 | 9,628,000 | 9,770,017 | ||||||||
| Las Vegas Sands Corp. | 6.00% | 8/15/2029 | 9,500,000 | 9,780,599 | ||||||||
| Sands China Ltd. (Macau)(d) | 5.40% | 8/8/2028 | 9,350,000 | 9,462,995 | ||||||||
| Total | 96,083,908 | |||||||||||
| Machinery-Diversified 0.62% | ||||||||||||
| GrafTech Global Enterprises, Inc.†(c) | 9.875% | 12/23/2029 | 36,640,000 | 27,571,600 | ||||||||
| Maxim Crane Works Holdings Capital LLC† | 11.50% | 9/1/2028 | 24,200,000 | 25,287,209 | ||||||||
| Regal Rexnord Corp. | 6.30% | 2/15/2030 | 8,400,000 | 8,799,157 | ||||||||
| Total | 61,657,966 | |||||||||||
| Media 5.34% | ||||||||||||
| AMC Global Media, Inc. | 4.25% | 2/15/2029 | 42,243,000 | 37,200,356 | ||||||||
| Cable One, Inc.† | 4.00% | 11/15/2030 | 42,173,000 | 29,440,710 | ||||||||
| CCO Holdings LLC/CCO Holdings Capital Corp.† | 4.50% | 8/15/2030 | 15,000,000 | 13,999,427 | ||||||||
| CCO Holdings LLC/CCO Holdings Capital Corp.†(c) | 4.50% | 6/1/2033 | 33,475,000 | 28,792,204 | ||||||||
| CCO Holdings LLC/CCO Holdings Capital Corp.† | 6.375% | 9/1/2029 | 46,075,000 | 46,182,357 | ||||||||
| CSC Holdings LLC† | 4.125% | 12/1/2030 | 4,800,000 | 2,861,341 | ||||||||
| CSC Holdings LLC† | 4.625% | 12/1/2030 | 17,814,000 | 6,262,303 | ||||||||
| CSC Holdings LLC† | 5.75% | 1/15/2030 | 13,555,000 | 4,825,018 | ||||||||
| CSC Holdings LLC† | 11.75% | 1/31/2029 | 27,904,000 | 19,999,129 | ||||||||
| Directv Financing LLC† | 8.875% | 2/1/2030 | 9,524,000 | 9,711,832 | ||||||||
| Directv Financing LLC/Directv Financing Co-Obligor, Inc.† | 10.00% | 2/15/2031 | 56,175,000 | 58,491,657 | ||||||||
| DISH DBS Corp. | 7.375% | 7/1/2028 | 45,525,000 | 44,495,839 | ||||||||
| EchoStar Corp. | 6.75% | 11/30/2030 | 18,296,987 | 18,587,305 | ||||||||
| EchoStar Corp. | 10.75% | 11/30/2029 | 17,575,000 | 19,093,171 | ||||||||
| EW Scripps Co.† | 9.875% | 8/15/2030 | 6,010,000 | 6,031,566 | ||||||||
| Gray Media, Inc.†(c) | 4.75% | 10/15/2030 | 14,550,000 | 11,659,773 | ||||||||
| Gray Media, Inc.† | 10.50% | 7/15/2029 | 10,546,000 | 11,201,318 |
| 70 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Media (continued) | ||||||||||||
| iHeartCommunications, Inc.†(c) | 9.125% | 5/1/2029 | $ | 4,830,000 | $ | 4,842,075 | ||||||
| McGraw-Hill Education, Inc.† | 5.75% | 8/1/2028 | 21,692,000 | 21,542,625 | ||||||||
| Paramount Global | 7.875% | 7/30/2030 | 38,440,000 | 40,916,854 | ||||||||
| Scripps Escrow II, Inc.†(c) | 5.375% | 1/15/2031 | 6,250,000 | 4,836,720 | ||||||||
| Sirius XM Radio LLC† | 4.125% | 7/1/2030 | 10,850,000 | 10,101,775 | ||||||||
| Telenet Finance Luxembourg Notes SARL (Luxembourg)†(d) | 5.50% | 3/1/2028 | 16,000,000 | 15,862,314 | ||||||||
| Univision Communications, Inc.† | 7.375% | 6/30/2030 | 13,565,000 | 13,560,707 | ||||||||
| Univision Communications, Inc.† | 8.50% | 7/31/2031 | 12,600,000 | 12,796,620 | ||||||||
| Virgin Media Secured Finance PLC (United Kingdom)†(d) | 5.50% | 5/15/2029 | 16,400,000 | 15,833,715 | ||||||||
| Ziggo Bond Co. BV (Netherlands)†(d) | 5.125% | 2/28/2030 | 22,375,000 | 19,646,575 | ||||||||
| Ziggo Bond Co. BV | 6.125% | 11/15/2032 | EUR | 4,800,000 | 5,044,934 | |||||||
| Total | 533,820,220 | |||||||||||
| Metal Fabricate-Hardware 0.29% | ||||||||||||
| Park-Ohio Industries, Inc.†(c) | 8.50% | 8/1/2030 | $ | 27,513,000 | 28,658,669 | |||||||
| Mining 3.17% | ||||||||||||
| Alumina Pty. Ltd. (Australia)†(d) | 6.125% | 3/15/2030 | 36,498,000 | 37,332,600 | ||||||||
| Aris Mining Corp. (Canada)†(d) | 8.00% | 10/31/2029 | 15,222,000 | 15,763,305 | ||||||||
| Arsenal AIC Parent LLC† | 8.00% | 10/1/2030 | 15,400,000 | 16,119,072 | ||||||||
| Coeur Mining, Inc.† | 6.875% | 4/1/2032 | 14,405,000 | 14,856,381 | ||||||||
| Compass Minerals International, Inc.† | 8.00% | 7/1/2030 | 30,754,000 | 32,122,953 | ||||||||
| Eldorado Gold Corp. (Canada)†(d) | 6.25% | 9/1/2029 | 17,477,000 | 17,453,095 | ||||||||
| First Quantum Minerals Ltd. (Canada)†(d) | 8.625% | 6/1/2031 | 4,225,000 | 4,410,702 | ||||||||
| Fortescue Treasury Pty. Ltd. (Australia)†(c)(d) | 6.125% | 4/15/2032 | 16,290,000 | 16,853,900 | ||||||||
| Freeport Indonesia PT (Indonesia)(d) | 5.315% | 4/14/2032 | 10,600,000 | 10,628,546 | ||||||||
| Hudbay Minerals, Inc. (Canada)†(d) | 6.125% | 4/1/2029 | 10,285,000 | 10,332,434 | ||||||||
| Ivanhoe Mines Ltd. (Canada)†(d) | 7.875% | 1/23/2030 | 16,811,000 | 17,151,497 | ||||||||
| JW Aluminum Continuous Cast Co.† | 10.25% | 4/1/2030 | 22,434,000 | 23,285,146 | ||||||||
| Novelis Corp.† | 6.875% | 1/30/2030 | 56,426,000 | 57,886,361 | ||||||||
| PLS Group Ltd. (Australia)†(d) | 6.875% | 5/1/2031 | 9,895,000 | 10,134,675 | ||||||||
| Vedanta Resources Finance II PLC (United Kingdom)(c)(d) | 9.475% | 7/24/2030 | 9,100,000 | 9,591,428 | ||||||||
| WE Soda Investments Holding PLC (United Kingdom)(d) | 9.50% | 10/6/2028 | 23,050,000 | 23,347,803 | ||||||||
| Total | 317,269,898 | |||||||||||
| Miscellaneous Manufacturing 1.13% | ||||||||||||
| Axon Enterprise, Inc.† | 6.125% | 3/15/2030 | 25,283,000 | 25,915,477 | ||||||||
| Calderys Financing II LLC† | 11.75% | 6/1/2028 | 17,815,937 | 18,096,449 | ||||||||
| LSB Industries, Inc.† | 6.25% | 10/15/2028 | 35,522,000 | 35,561,820 | ||||||||
| Maxam Prill SARL (Luxembourg)†(d) | 7.75% | 7/15/2030 | 32,500,000 | 33,730,222 | ||||||||
| Total | 113,303,968 | |||||||||||
| See Notes to Schedule of Investments. | 71 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Oil & Gas 10.03% | ||||||||||||
| Azule Energy Finance PLC (United Kingdom)(d) | 8.125% | 1/23/2030 | $ | 12,225,000 | $ | 12,620,393 | ||||||
| Azule Energy Finance PLC (United Kingdom)(d) | 8.25% | 1/22/2031 | 4,600,000 | 4,754,778 | ||||||||
| Azule Energy Finance PLC (United Kingdom)(d) | 8.25% | 1/22/2031 | 5,000,000 | 5,168,237 | ||||||||
| BKV Upstream Midstream LLC† | 7.50% | 10/15/2030 | 36,417,000 | 37,418,722 | ||||||||
| Borr IHC Ltd./Borr Finance LLC† | 10.00% | 11/15/2028 | 34,790,854 | 36,366,819 | ||||||||
| Borr IHC Ltd./Borr Finance LLC† | 10.375% | 11/15/2030 | 24,965,534 | 26,218,541 | ||||||||
| California Resources Corp.† | 8.25% | 6/15/2029 | 15,399,000 | 16,064,700 | ||||||||
| Caturus Energy LLC† | 7.125% | 5/15/2031 | 5,022,000 | 5,042,128 | ||||||||
| Caturus Energy LLC† | 8.50% | 2/15/2030 | 35,157,000 | 36,776,127 | ||||||||
| CITGO Petroleum Corp.† | 8.375% | 1/15/2029 | 18,613,000 | 19,163,070 | ||||||||
| Comstock Resources, Inc.† | 5.875% | 1/15/2030 | 5,175,000 | 5,015,626 | ||||||||
| Comstock Resources, Inc.† | 6.75% | 3/1/2029 | 18,852,000 | 18,854,673 | ||||||||
| Crescent Energy Finance LLC† | 7.75% | 7/31/2029 | 19,102,000 | 19,304,386 | ||||||||
| Crescent Energy Finance LLC† | 7.875% | 4/15/2032 | 25,025,000 | 25,957,682 | ||||||||
| Global Marine, Inc. | 7.00% | 6/1/2028 | 29,526,000 | 29,721,314 | ||||||||
| Gulfport Energy Operating Corp.† | 6.75% | 9/1/2029 | 19,177,000 | 19,697,866 | ||||||||
| Hilcorp Energy I LP/Hilcorp Finance Co.† | 6.00% | 2/1/2031 | 9,700,000 | 9,591,772 | ||||||||
| Hilcorp Energy I LP/Hilcorp Finance Co.† | 6.25% | 11/1/2028 | 23,693,000 | 23,856,055 | ||||||||
| Hilcorp Energy I LP/Hilcorp Finance Co.† | 6.25% | 4/15/2032 | 20,100,000 | 19,981,080 | ||||||||
| Infinity Natural Resources LLC† | 7.625% | 4/1/2031 | 24,533,000 | 24,960,880 | ||||||||
| Kraken Oil & Gas Partners LLC† | 7.625% | 8/15/2029 | 37,534,000 | 38,264,957 | ||||||||
| Moss Creek Resources Holdings, Inc.† | 8.25% | 9/1/2031 | 29,215,000 | 29,592,662 | ||||||||
| Nabors Industries, Inc.† | 7.625% | 11/15/2032 | 9,625,000 | 10,048,048 | ||||||||
| Nabors Industries, Inc.†(c) | 8.875% | 8/15/2031 | 19,725,000 | 20,837,332 | ||||||||
| Noble Finance II LLC† | 8.00% | 4/15/2030 | 42,973,000 | 44,711,945 | ||||||||
| Occidental Petroleum Corp. | 7.50% | 5/1/2031 | 8,150,000 | 9,080,543 | ||||||||
| Occidental Petroleum Corp. | 8.875% | 7/15/2030 | 8,405,000 | 9,575,216 | ||||||||
| PBF Holding Co. LLC/PBF Finance Corp. | 6.00% | 2/15/2028 | 10,549,000 | 10,545,376 | ||||||||
| PBF Holding Co. LLC/PBF Finance Corp.†(c) | 7.875% | 9/15/2030 | 9,330,000 | 9,568,681 | ||||||||
| PBF Holding Co. LLC/PBF Finance Corp.†(c) | 9.875% | 3/15/2030 | 23,062,000 | 24,791,166 | ||||||||
| Petroleos Mexicanos (Mexico)(d) | 8.75% | 6/2/2029 | 24,320,000 | 26,051,098 | ||||||||
| Phillips 66 Co. | 5.875% (5 yr. CMT + 2.28% | )# | 3/15/2056 | 19,200,000 | 19,151,265 | |||||||
| Precision Drilling Corp. (Canada)†(d) | 6.875% | 1/15/2029 | 6,592,000 | 6,655,072 | ||||||||
| Saturn Oil & Gas, Inc. (Canada)†(c)(d) | 9.625% | 6/15/2029 | 35,761,000 | 37,516,937 | ||||||||
| Seadrill Finance Ltd.† | 8.375% | 8/1/2030 | 19,543,000 | 20,497,113 | ||||||||
| SierraCol Energy Andina LLC†(c) | 6.00% | 6/15/2028 | 12,271,000 | 11,886,795 | ||||||||
| SM Energy Co. | 6.50% | 7/15/2028 | 9,615,000 | 9,648,297 | ||||||||
| 72 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Oil & Gas (continued) | ||||||||||||
| SM Energy Co.† | 6.75% | 8/1/2029 | $ | 17,304,000 | $ | 17,759,632 | ||||||
| SM Energy Co.† | 8.625% | 11/1/2030 | 9,776,000 | 10,345,452 | ||||||||
| SM Energy Co.† | 8.75% | 7/1/2031 | 6,744,000 | 7,077,383 | ||||||||
| Sunoco LP† | 7.875% (5 yr. CMT + 4.23% | )# | – | (e) | 18,449,000 | 19,115,858 | ||||||
| Talos Production, Inc.† | 9.00% | 2/1/2029 | 13,729,000 | 14,329,451 | ||||||||
| Talos Production, Inc.† | 9.375% | 2/1/2031 | 20,338,000 | 21,647,645 | ||||||||
| TGNR Intermediate Holdings LLC† | 5.50% | 10/15/2029 | 26,220,000 | 25,878,550 | ||||||||
| Transocean International Ltd.† | 8.25% | 5/15/2029 | 24,134,000 | 25,070,906 | ||||||||
| Transocean International Ltd.† | 8.50% | 5/15/2031 | 10,000,000 | 10,580,280 | ||||||||
| Valaris Ltd.† | 8.375% | 4/30/2030 | 41,236,000 | 43,014,674 | ||||||||
| Vermilion Energy, Inc. (Canada)†(d) | 6.875% | 5/1/2030 | 35,500,000 | 35,873,331 | ||||||||
| Wildfire Intermediate Holdings LLC† | 7.50% | 10/15/2029 | 36,432,000 | 37,516,581 | ||||||||
| Total | 1,003,167,095 | |||||||||||
| Oil & Gas Services 1.03% | ||||||||||||
| CHC Group LLC† | 11.75% | 9/1/2030 | 30,247,000 | 27,483,029 | ||||||||
| Enerflex, Inc.† | 6.875% | 1/15/2031 | 8,813,000 | 9,083,718 | ||||||||
| Helix Energy Solutions Group, Inc.† | 9.75% | 3/1/2029 | 12,414,000 | 13,044,830 | ||||||||
| SESI LLC† | 7.875% | 9/30/2030 | 28,576,000 | 29,522,094 | ||||||||
| Star Holding LLC† | 8.75% | 8/1/2031 | 6,250,000 | 6,384,894 | ||||||||
| USA Compression Partners LP/USA Compression Finance Corp.† | 7.125% | 3/15/2029 | 16,605,000 | 17,166,730 | ||||||||
| Total | 102,685,295 | |||||||||||
| Packaging & Containers 1.83% | ||||||||||||
| Ardagh Group SA (Luxembourg)†(c)(d) | 12.00% | 12/1/2030 | 20,678,688 | 18,582,903 | ||||||||
| Ardagh Group SA | 12.00% | 12/1/2030 | EUR | 8,550,000 | 9,015,338 | |||||||
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC† | 6.25% | 1/30/2031 | $ | 3,659,000 | 3,686,410 | |||||||
| Clydesdale Acquisition Holdings, Inc.† | 6.875% | 1/15/2030 | 16,000,000 | 15,663,234 | ||||||||
| Clydesdale Acquisition Holdings, Inc.† | 8.75% | 4/15/2030 | 32,945,000 | 29,911,133 | ||||||||
| LABL, Inc.† | Zero Coupon | 10/1/2031 | 9,201,000 | 4,002,435 | ||||||||
| LABL, Inc.†(f) | 9.50% | 11/1/2028 | 9,998,000 | 4,349,130 | ||||||||
| Mauser Packaging Solutions Holding Co.† | 7.875% | 4/15/2030 | 9,600,000 | 9,714,000 | ||||||||
| Mauser Packaging Solutions Holding Co.† | 9.25% | 4/15/2030 | 31,727,000 | 30,259,499 | ||||||||
| Sword Purchaser LLC† | 8.25% | 4/15/2033 | 9,682,000 | 9,914,399 | ||||||||
| Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC (Jersey)†(d) | 9.50% | 5/15/2030 | 21,572,000 | 18,921,187 | ||||||||
| Trivium Packaging Finance BV (Netherlands)†(d) | 12.25% | 1/15/2031 | 26,589,000 | 29,009,769 | ||||||||
| Total | 183,029,437 | |||||||||||
| See Notes to Schedule of Investments. | 73 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Pharmaceuticals 1.46% | ||||||||||||
| Adapthealth LLC† | 5.125% | 3/1/2030 | $ | 5,275,000 | $ | 5,133,108 | ||||||
| Adapthealth LLC† | 6.125% | 8/1/2028 | 11,550,000 | 11,555,089 | ||||||||
| Cheplapharm Arzneimittel GmbH† | 7.125% | 6/15/2031 | EUR | 2,987,000 | 3,571,209 | |||||||
| Cheplapharm Arzneimittel GmbH | 7.50% | 5/15/2030 | EUR | 10,500,000 | 12,629,458 | |||||||
| Curaleaf Holdings, Inc. | 11.50% | 2/18/2029 | $ | 13,941,000 | 14,392,131 | |||||||
| CVS Health Corp. | 7.00% (5 yr. CMT + 2.89% | )# | 3/10/2055 | 9,300,000 | 9,655,142 | |||||||
| HLF Financing SARL LLC/Herbalife International, Inc.† | 4.875% | 6/1/2029 | 50,873,000 | 47,870,127 | ||||||||
| HLF Financing SARL LLC/Herbalife International, Inc.† | 7.75% | 5/1/2033 | 10,322,000 | 10,548,941 | ||||||||
| Organon & Co./Organon Foreign Debt Co-Issuer BV† | 5.125% | 4/30/2031 | 22,209,000 | 22,084,122 | ||||||||
| Teva Pharmaceutical Finance Netherlands IV BV (Netherlands)(d) | 5.75% | 12/1/2030 | 8,170,000 | 8,390,500 | ||||||||
| Total | 145,829,827 | |||||||||||
| Pipelines 2.72% | ||||||||||||
| Buckeye Partners LP† | 6.75% | 2/1/2030 | 40,998,000 | 42,432,520 | ||||||||
| Delek Logistics Partners LP/Delek Logistics Finance Corp.† | 7.125% | 6/1/2028 | 18,241,000 | 18,259,706 | ||||||||
| Delek Logistics Partners LP/Delek Logistics Finance Corp.† | 8.625% | 3/15/2029 | 13,857,000 | 14,464,408 | ||||||||
| Energy Transfer LP | 6.50% (5 yr. CMT + 5.69% | )# | – | (e) | 26,924,000 | 27,036,650 | ||||||
| Energy Transfer LP | 6.625% (3 mo. USD Term SOFR + 4.42% | )# | – | (e) | 9,550,000 | 9,664,504 | ||||||
| Golar LNG Ltd.† | 7.50% | 10/2/2030 | 400,000 | 410,086 | ||||||||
| Golar LNG Ltd. | 7.75% | 9/19/2029 | 3,200,000 | 3,265,928 | ||||||||
| Harvest Midstream I LP† | 7.50% | 9/1/2028 | 11,236,000 | 11,318,124 | ||||||||
| Plains All American Pipeline LP(c) | 8.024% (3 mo. USD Term SOFR + 4.37% | )# | – | (e) | 16,280,000 | 16,320,739 | ||||||
| Venture Global LNG, Inc.†(c) | 7.00% | 1/15/2030 | 9,600,000 | 9,879,197 | ||||||||
| Venture Global LNG, Inc.† | 8.125% | 6/1/2028 | 15,213,000 | 15,573,183 | ||||||||
| Venture Global LNG, Inc.† | 9.00% (5 yr. CMT + 5.44% | )# | – | (e) | 36,845,000 | 36,466,517 | ||||||
| Venture Global LNG, Inc.† | 9.50% | 2/1/2029 | 51,025,000 | 55,709,197 | ||||||||
| Western Midstream Operating LP† | 7.25% | 4/1/2030 | 10,161,000 | 10,716,349 | ||||||||
| Total | 271,517,108 | |||||||||||
| Real Estate 0.95% | ||||||||||||
| CPI Property Group SA | 7.50% (5 yr. EURIBOR ICE Swap + 5.23% | )# | – | (e) | EUR | 4,040,000 | 4,364,109 | |||||
| Cushman & Wakefield U.S. Borrower LLC† | 6.75% | 5/15/2028 | $ | 28,576,000 | 28,594,665 | |||||||
| Five Point Operating Co. LP† | 8.00% | 10/1/2030 | 24,667,000 | 25,310,118 | ||||||||
| 74 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Real Estate (continued) | ||||||||||||
| Hunt Cos., Inc.† | 5.25% | 4/15/2029 | $ | 21,166,000 | $ | 20,517,150 | ||||||
| Kennedy-Wilson, Inc. | 4.75% | 2/1/2030 | 3,729,000 | 3,682,127 | ||||||||
| Kennedy-Wilson, Inc.(c) | 5.00% | 3/1/2031 | 5,609,000 | 5,589,901 | ||||||||
| Newmark Group, Inc. | 7.50% | 1/12/2029 | 6,581,000 | 6,931,899 | ||||||||
| Total | 94,989,969 | |||||||||||
| REITS 2.29% | ||||||||||||
| Arbor Realty SR, Inc.† | 7.875% | 7/15/2030 | 1,927,000 | 1,821,370 | ||||||||
| Arbor Realty SR, Inc.†(c) | 8.50% | 12/15/2028 | 13,013,000 | 12,898,398 | ||||||||
| Blackstone Mortgage Trust, Inc.† | 7.75% | 12/1/2029 | 15,055,000 | 16,021,365 | ||||||||
| Brandywine Operating Partnership LP | 6.125% | 1/15/2031 | 4,895,000 | 4,560,356 | ||||||||
| Brandywine Operating Partnership LP | 8.875% | 4/12/2029 | 27,561,000 | 28,867,226 | ||||||||
| Diversified Healthcare Trust† | 7.25% | 10/15/2030 | 17,702,000 | 18,084,399 | ||||||||
| EF Holdco/EF Cayman Holdings/Ellington Financial REIT Cayman/TRS/ EF Cayman Non-MTM† | 7.375% | 9/30/2030 | 16,667,000 | 16,581,020 | ||||||||
| Iron Mountain, Inc.† | 5.25% | 7/15/2030 | 9,519,000 | 9,425,635 | ||||||||
| Millrose Properties, Inc.† | 6.375% | 8/1/2030 | 22,348,000 | 22,649,787 | ||||||||
| Piedmont Operating Partnership LP | 6.875% | 7/15/2029 | 13,913,000 | 14,596,190 | ||||||||
| Piedmont Operating Partnership LP | 9.25% | 7/20/2028 | 7,830,000 | 8,533,348 | ||||||||
| Starwood Property Trust, Inc.† | 6.50% | 7/1/2030 | 16,525,000 | 16,940,125 | ||||||||
| Starwood Property Trust, Inc.† | 6.50% | 10/15/2030 | 8,568,000 | 8,817,157 | ||||||||
| Starwood Property Trust, Inc.† | 7.25% | 4/1/2029 | 37,805,000 | 39,222,990 | ||||||||
| Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC†(c) | 6.00% | 1/15/2030 | 5,269,000 | 5,095,128 | ||||||||
| XHR LP† | 4.875% | 6/1/2029 | 5,100,000 | 5,009,109 | ||||||||
| Total | 229,123,603 | |||||||||||
| Retail 3.67% | ||||||||||||
| Advance Auto Parts, Inc.† | 7.00% | 8/1/2030 | 32,604,000 | 33,650,132 | ||||||||
| Arko Corp.†(c) | 5.125% | 11/15/2029 | 14,750,000 | 13,306,507 | ||||||||
| Bloomin’ Brands, Inc./OSI Restaurant Partners LLC†(c) | 5.125% | 4/15/2029 | 24,438,000 | 22,084,283 | ||||||||
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.†(c) | 6.75% | 1/15/2030 | 8,317,000 | 8,063,367 | ||||||||
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. (United Kingdom)†(d) | 8.375% | 1/15/2029 | 23,748,000 | 22,664,141 | ||||||||
| Global Auto Holdings Ltd./AAG FH U.K. Ltd. (United Kingdom)†(c)(d) | 11.50% | 8/15/2029 | 19,760,000 | 20,078,334 | ||||||||
| GPS Hospitality Holding Co. LLC/GPS Finco, Inc.† | 7.00% | 8/15/2028 | 12,121,000 | 5,939,290 | ||||||||
| Group 1 Automotive, Inc.† | 4.00% | 8/15/2028 | 10,075,000 | 9,814,209 | ||||||||
| LBM Acquisition LLC†(c) | 6.25% | 1/15/2029 | 17,250,000 | 11,970,479 | ||||||||
| LBM Acquisition LLC† | 9.50% | 6/15/2031 | 12,214,000 | 10,702,331 | ||||||||
| LCM Investments Holdings II LLC† | 4.875% | 5/1/2029 | 10,100,000 | 9,894,406 | ||||||||
| Park River Holdings, Inc.† | 8.00% | 3/15/2031 | 25,470,000 | 25,635,886 | ||||||||
| See Notes to Schedule of Investments. | 75 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Retail (continued) | ||||||||||||
| Park River Holdings, Inc.†(c) | 8.75% | 12/31/2030 | $ | 14,161,152 | $ | 13,404,996 | ||||||
| Petco Health & Wellness Co., Inc.† | 8.25% | 2/1/2031 | 14,574,000 | 14,727,046 | ||||||||
| Punch Finance PLC† | 7.875% | 12/30/2030 | GBP | 7,468,000 | 10,334,627 | |||||||
| Punch Finance PLC | 7.875% | 12/30/2030 | GBP | 6,470,000 | 8,953,540 | |||||||
| Specialty Building Products Holdings LLC/SBP Finance Corp.† | 7.75% | 10/15/2029 | $ | 24,721,000 | 21,841,892 | |||||||
| Staples, Inc.† | 10.75% | 9/1/2029 | 23,290,000 | 22,279,321 | ||||||||
| Stonegate Pub Co. Financing PLC | 10.75% | 7/31/2029 | GBP | 24,462,000 | 33,534,755 | |||||||
| Victra Holdings LLC/Victra Finance Corp.†(c) | 8.75% | 9/15/2029 | $ | 35,719,000 | 37,422,618 | |||||||
| Waga Bondco Ltd. | 8.50% | 6/15/2030 | GBP | 4,800,000 | 5,646,811 | |||||||
| White Cap Supply Holdings LLC†(c) | 7.375% | 11/15/2030 | $ | 4,617,000 | 4,671,887 | |||||||
| Total | 366,620,858 | |||||||||||
| Semiconductors 0.80% | ||||||||||||
| ams-OSRAM AG | 10.50% | 3/30/2029 | EUR | 3,065,000 | 3,800,692 | |||||||
| ams-OSRAM AG (Austria)†(d) | 12.25% | 3/30/2029 | $ | 23,235,000 | 24,868,304 | |||||||
| Kioxia Holdings Corp. (Japan)†(d) | 6.25% | 7/24/2030 | 31,200,000 | 32,162,066 | ||||||||
| Microchip Technology, Inc. | 5.05% | 2/15/2030 | 19,200,000 | 19,405,970 | ||||||||
| Total | 80,237,032 | |||||||||||
| Software 1.74% | ||||||||||||
| Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.† | 8.00% | 6/15/2029 | 13,482,000 | 8,089,200 | (a) | |||||||
| Central Parent, Inc./CDK Global, Inc.† | 7.25% | 6/15/2029 | 29,908,000 | 17,944,800 | (a) | |||||||
| CoreWeave, Inc.†(c) | 9.00% | 2/1/2031 | 11,608,000 | 11,548,910 | ||||||||
| CoreWeave, Inc.†(c) | 9.25% | 6/1/2030 | 49,579,000 | 50,239,065 | ||||||||
| CoreWeave, Inc.† | 9.75% | 10/1/2031 | 7,024,000 | 7,070,152 | ||||||||
| Ellucian Holdings, Inc.† | 6.50% | 12/1/2029 | 12,044,000 | 11,876,258 | ||||||||
| Open Text Corp. (Canada)†(d) | 3.875% | 2/15/2028 | 12,505,000 | 12,107,802 | ||||||||
| Oracle Corp. | 6.15% | 11/9/2029 | 18,250,000 | 18,808,097 | ||||||||
| Pagaya U.S. Holdings Co. LLC†(c) | 8.875% | 8/1/2030 | 19,900,000 | 15,466,630 | ||||||||
| Rocket Software, Inc.†(c) | 6.50% | 2/15/2029 | 5,775,000 | 5,161,347 | ||||||||
| Rocket Software, Inc.† | 9.00% | 11/28/2028 | 5,232,000 | 5,210,424 | ||||||||
| Ubisoft Entertainment SA | 0.878% | 11/24/2027 | EUR | 10,200,000 | 10,075,419 | |||||||
| Total | 173,598,104 | |||||||||||
| Telecommunications 4.19% | ||||||||||||
| APLD ComputeCo 2 LLC† | 6.75% | 3/15/2031 | $ | 10,078,000 | 9,984,227 | |||||||
| APLD ComputeCo LLC† | 9.25% | 12/15/2030 | 4,800,000 | 5,161,967 | ||||||||
| Black Pearl Compute LLC† | 6.125% | 2/15/2031 | 10,606,000 | 10,773,975 | ||||||||
| Cipher Compute LLC† | 7.125% | 11/15/2030 | 36,846,000 | 38,237,274 | ||||||||
| Connect Finco SARL/Connect U.S. Finco LLC (Luxembourg)†(d) | 9.00% | 9/15/2029 | 23,325,000 | 24,629,731 | ||||||||
| Core Scientific Finance I LLC†(b) | 7.75% | 5/15/2031 | 35,181,000 | 35,111,665 | ||||||||
| Edged Compute LLC† | 7.50% | 4/30/2031 | 10,575,000 | 10,374,543 | ||||||||
| 76 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Telecommunications (continued) | ||||||||||||
| Eutelsat Communications SACA | 5.75% | 3/15/2031 | EUR | 5,967,000 | $ | 7,193,819 | ||||||
| Eutelsat Communications SACA† | 5.75% | 3/15/2031 | EUR | 2,786,000 | 3,357,710 | |||||||
| Flash Compute LLC† | 7.25% | 12/31/2030 | $ | 43,483,000 | 44,410,061 | |||||||
| Hughes Satellite Systems Corp. | 5.25% | 8/1/2026 | 12,282,000 | 11,154,906 | ||||||||
| Hughes Satellite Systems Corp. | 6.625% | 8/1/2026 | 16,778,000 | 11,969,845 | ||||||||
| Iliad Holding SAS (France)†(d) | 7.00% | 10/15/2028 | 14,400,000 | 14,508,706 | ||||||||
| Meridian Arc Holdco LLC† | 6.25% | 4/30/2031 | 29,909,000 | 29,916,100 | ||||||||
| PR RNO Property Owner 1 LLC† | 6.50% | 5/1/2031 | 19,996,000 | 19,831,011 | ||||||||
| SV RNO Property Owner 1 LLC† | 5.875% | 3/1/2031 | 49,280,000 | 48,383,040 | ||||||||
| Viasat, Inc.† | 7.50% | 5/30/2031 | 10,210,000 | 10,245,245 | ||||||||
| Vmed O2 U.K. Financing I PLC | 4.50% | 7/15/2031 | GBP | 12,650,000 | 14,892,217 | |||||||
| Vmed O2 U.K. Financing I PLC (United Kingdom)†(d) | 7.75% | 4/15/2032 | $ | 14,600,000 | 14,211,856 | |||||||
| WULF Compute LLC† | 7.75% | 10/15/2030 | 51,427,000 | 54,081,156 | ||||||||
| Total | 418,429,054 | |||||||||||
| Transportation 1.46% | ||||||||||||
| Carriage Purchaser, Inc.† | 7.875% | 10/15/2029 | 24,859,000 | 24,172,911 | ||||||||
| Mobico Group PLC | 3.625% | 11/20/2028 | GBP | 8,166,000 | 9,905,093 | |||||||
| Mobico Group PLC | 7.853% (5 yr. U.K. Government Bond + 4.14% | )# | – | (e) | GBP | 10,674,000 | 9,033,177 | |||||
| Ocado Group PLC | 10.50% | 8/8/2029 | GBP | 5,858,000 | 8,087,576 | |||||||
| Rand Parent LLC† | 8.50% | 2/15/2030 | $ | 32,584,000 | 33,937,344 | |||||||
| Seaspan Corp. (Hong Kong)†(d) | 5.50% | 8/1/2029 | 25,987,000 | 24,860,917 | ||||||||
| SGL Group ApS | 6.274% (3 mo. EURIBOR + 4.25% | )# | 2/24/2031 | EUR | 6,470,000 | 7,270,340 | ||||||
| Star Leasing Co. LLC† | 7.625% | 2/15/2030 | $ | 29,785,000 | 28,847,967 | |||||||
| Total | 146,115,325 | |||||||||||
| Water 0.03% | ||||||||||||
| Aegea Finance SARL (Luxembourg)(d) | 6.75% | 5/20/2029 | 1,500,000 | 1,261,380 | ||||||||
| Aegea Finance SARL (Luxembourg)(c)(d) | 9.00% | 1/20/2031 | 1,940,000 | 1,627,175 | ||||||||
| Total | 2,888,555 | |||||||||||
| Total Corporate Bonds (cost $8,937,443,400) | 8,899,522,344 | |||||||||||
| FLOATING RATE LOANS(g) 4.27% | ||||||||||||
| Aerospace & Defense 0.15% | ||||||||||||
| Alloy Finco Ltd. 2026 USD PIK New Way Term Loan B 13.50% (Jersey)(d) | 0.50% (3 mo. USD Term SOFR + 0.50% | ) | 3/6/2028 | 645,880 | 15,435,094 | |||||||
| Airlines 0.05% | ||||||||||||
| JetBlue Airways Corp. 2024 Term Loan B | 8.435% (3 mo. USD Term SOFR + 4.75% | ) | 8/27/2029 | 5,261,646 | 4,717,960 | |||||||
| See Notes to Schedule of Investments. | 77 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Auto Parts & Equipment 0.26% | ||||||||||||
| Autokiniton U.S. Holdings, Inc. 2024 Term Loan B | 7.767% (1 mo. USD Term SOFR + 4.00% | ) | 4/6/2028 | $ | 15,419,645 | $ | 15,283,104 | |||||
| First Brands Group LLC 2021 Term Loan | 10.779% (3 mo. USD Term SOFR + 7.11% | ) | 3/30/2027 | 9,029,412 | 28,962 | |||||||
| First Brands Group LLC 2022 Incremental Term Loan | – | (h) | 3/30/2027 | 7,550,114 | 24,217 | |||||||
| First Brands Group LLC 2025 DIP Term Loan | 13.657% (1 mo. USD Term SOFR + 10.00% | ) | 6/29/2026 | 32,377 | 8,003 | |||||||
| RealTruck Group, Inc. 2026 FLSO Tranche A Term Loan | 8.517% (3 mo. USD Term SOFR + 4.75% | ) | 1/31/2031 | 6,705,024 | 3,911,275 | |||||||
| RealTruck Group, Inc. 2026 FLSO Tranche B Term Loan B | 9.767% (3 mo. USD Term SOFR + 6.00% | ) | 1/31/2031 | 11,697,813 | 6,811,052 | |||||||
| Total | 26,066,613 | |||||||||||
| Building Materials 0.03% | ||||||||||||
| Oscar AcquisitionCo LLC Term Loan B | 7.95% (3 mo. USD Term SOFR + 4.25% | ) | 4/30/2029 | 3,830,078 | 2,707,865 | |||||||
| Chemicals 0.12% | ||||||||||||
| INEOS Quattro Holdings U.K. Ltd. 2023 USD 1st Lien Term Loan B (United Kingdom)(d) | 8.002% (1 mo. USD Term SOFR + 4.25% | ) | 4/2/2029 | 12,787,379 | 11,812,405 | |||||||
| Commercial Services 0.68% | ||||||||||||
| Crash Champions LLC 2024 Term Loan B | 8.423% (3 mo. USD Term SOFR + 4.75% | ) | 2/23/2029 | 17,940,160 | 17,168,733 | |||||||
| CRM Series Seller 2025 LLC Revolver(i) | 7.48% - 7.52% (1 day USD Term SOFR + 3.85% (3 mo. USD Term SOFR + 3.85% | ) ) |
8/20/2030 | 16,500,000 | 16,478,550 | (j) | ||||||
| Spin Holdco, Inc. 2026 First Lien First Out Term Loan | 9.096% (3 mo. USD Term SOFR + 5.43% | ) | 9/4/2030 | 4,384,234 | 4,480,425 | |||||||
| Spin Holdco, Inc. 2026 First Lien Second Out Term Loan | 7.928% (3 mo. USD Term SOFR + 4.00% | ) | 9/4/2030 | 20,909,888 | 14,793,746 | |||||||
| Stonepeak Taurus Lower Holdings LLC 2022 2nd Lien Term Loan | 10.80% (3 mo. USD Term SOFR + 7.00% | ) | 1/28/2030 | 9,795,000 | 8,483,743 | |||||||
| TruGreen LP 2020 Term Loan | – | (h) | 11/2/2027 | 6,720,000 | 6,429,360 | |||||||
| Total | 67,834,557 | |||||||||||
| 78 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Computers 0.10% | ||||||||||||
| McAfee LLC 2024 USD 1st Lien Term Loan B | 6.652% (1 mo. USD Term SOFR + 3.00% | ) | 3/1/2029 | $ | 11,412,109 | $ | 10,085,451 | |||||
| Containers & Packaging 0.31% | ||||||||||||
| Iris Holding, Inc. Term Loan | 8.513% (3 mo. USD Term SOFR + 4.75% | ) | 6/28/2028 | 19,823,643 | 18,775,766 | |||||||
| LABL, Inc. 2026 Final Roll-Up DIP Term Loan A4 | 10.461% (3 mo. USD Term SOFR + 6.75% | ) | 12/2/2026 | 700,105 | 595,089 | (j) | ||||||
| LABL, Inc. 2026 USD Interim New Money DIP Term Loan | 10.423% (3 mo. USD Term SOFR + 6.75% | ) | 12/2/2026 | 1,176,706 | 1,180,631 | |||||||
| LABL, Inc. 2026 USD Interim Roll up DIP Term Loan | 10.41% (3 mo. USD Term SOFR + 6.75% | ) | 12/2/2026 | 450,690 | 383,086 | (j) | ||||||
| Tosca Services LLC 2024 Second Out Superpriority PIK Term Loan B | 8.05% (3 mo. USD Term SOFR + 4.25% | ) | 11/30/2028 | 10,444,271 | 9,977,986 | |||||||
| Total | 30,912,558 | |||||||||||
| Cosmetics/Personal Care 0.19% | ||||||||||||
| Conair Holdings LLC Term Loan B | 7.517% (1 mo. USD Term SOFR + 3.75% | ) | 5/17/2028 | 26,286,019 | 18,613,787 | |||||||
| Diversified Financial Services 0.07% | ||||||||||||
| BSFR II UTE I LLC Revolver(i) | 7.665% - 7.67% (1 mo. USD Term SOFR + 4.00% (3 mo. USD Term SOFR + 4.00% | ) ) |
3/24/2028 | 7,425,000 | 7,396,785 | (j) | ||||||
| Gaming/Leisure 0.28% | ||||||||||||
| 888 Acquisitions Ltd. USD Term Loan B (United Kingdom)(d) | 9.019% (6 mo. USD Term SOFR + 5.25% | ) | 7/1/2028 | 6,096,849 | 5,872,790 | |||||||
| United FP Holdings LLC 2019 1st Lien Term Loan | 7.925% (3 mo. USD Term SOFR + 4.00% | ) | 12/30/2026 | 23,159,815 | 22,407,121 | |||||||
| Total | 28,279,911 | |||||||||||
| Health Care Products 0.10% | ||||||||||||
| Hologic, Inc. 2026 USD 2nd Lien Term Loan | 8.679% (3 mo. USD Term SOFR + 5.00% | ) | 4/10/2034 | 9,800,000 | 9,702,000 | (j) | ||||||
| See Notes to Schedule of Investments. | 79 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Health Care Services 0.26% | ||||||||||||
| ADMI Corp. 2023 Term Loan B5 | 9.402% (1 mo. USD Term SOFR + 5.75% | ) | 12/23/2027 | $ | 10,457,964 | $ | 9,908,921 | |||||
| Dermatology Intermediate Holdings III, Inc. 2022 Term Loan B | 7.913% (3 mo. USD Term SOFR + 4.25% | ) | 3/30/2029 | 9,041,464 | 8,644,001 | |||||||
| Dermatology Intermediate Holdings III, Inc. 2023 Incremental Term Loan B | 9.163% (3 mo. USD Term SOFR + 5.50% | ) | 3/30/2029 | 7,205,940 | 6,890,680 | |||||||
| New WPCC Parent LLC Term Loan | 13.152% (1 mo. USD Term SOFR + 9.50% | ) | 5/9/2030 | 641,873 | 637,329 | |||||||
| Total | 26,080,931 | |||||||||||
| Information Technology Services 0.01% | ||||||||||||
| Recovery Solutions Parent LLC Term Loan | 11.20% (3 mo. USD Term SOFR + 7.50% | ) | 1/28/2030 | 1,179,606 | 1,181,570 | |||||||
| Machinery: Diversified 0.40% | ||||||||||||
| CPM Holdings, Inc. 2023 Term Loan | 8.165% (1 mo. USD Term SOFR + 4.50% | ) | 9/28/2028 | 30,332,812 | 30,398,027 | |||||||
| LSF12 Badger Bidco LLC Term Loan B | 9.152% (1 mo. USD Term SOFR + 5.50% | ) | 8/30/2030 | 9,346,354 | 9,369,720 | |||||||
| Total | 39,767,747 | |||||||||||
| Media 0.34% | ||||||||||||
| Sinclair Television Group, Inc. 2025 Term Loan B6 | 7.067% (1 mo. USD Term SOFR + 3.30% | ) | 12/31/2029 | 19,187,027 | 17,508,258 | |||||||
| Sinclair Television Group, Inc. 2025 Term Loan B7 | 7.852% (1 mo. USD Term SOFR + 4.10% | ) | 12/31/2030 | 18,648,132 | 16,905,744 | |||||||
| Total | 34,414,002 | |||||||||||
| Metal Fabricate/Hardware 0.30% | ||||||||||||
| Tank Holding Corp. 2022 Term Loan | 9.502% (1 mo. USD Term SOFR + 5.75% | ) | 3/31/2028 | 30,217,277 | 26,959,552 | |||||||
| Tank Holding Corp. 2023 Incremental Delayed Draw Term Loan | 9.752% (1 mo. USD Term SOFR + 6.00% | ) | 3/31/2028 | 1,141,535 | 1,013,112 | |||||||
| Tank Holding Corp. 2023 Incremental Term Loan | 9.752% (1 mo. USD Term SOFR + 6.00% | ) | 3/31/2028 | 2,691,898 | 2,389,060 | |||||||
| Total | 30,361,724 | |||||||||||
| Miscellaneous Manufacture 0.11% | ||||||||||||
| Rohm Holding GmbH 2024 EUR PIK Term Loan B | 7.149% (6 mo. EURIBOR + 4.75% | ) | 1/31/2029 | EUR | 9,541,843 | 10,952,800 | ||||||
| 80 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| Pharmaceuticals 0.05% | ||||||||||||
| Gainwell Acquisition Corp. 2nd Lien Term Loan | 11.774% (3 mo. USD Term SOFR + 8.00% | ) | 10/2/2028 | $ | 4,812,000 | $ | 4,547,340 | |||||
| Real Estate 0.05% | ||||||||||||
| CoreLogic, Inc. 2nd Lien Term Loan | 10.267% (1 mo. USD Term SOFR + 6.50% | ) | 6/4/2029 | 5,290,000 | 5,029,917 | |||||||
| Retail 0.26% | ||||||||||||
| LBM Acquisition LLC 2024 Incremental Term Loan B | 7.502% (1 mo. USD Term SOFR + 3.75% | ) | 6/6/2031 | 5,761,023 | 4,842,140 | |||||||
| RVR Dealership Holdings LLC 2026 Term Loan B | 8.167% (3 mo. USD Term SOFR + 4.50% | ) | 2/26/2033 | 16,923,000 | 16,362,510 | |||||||
| Specialty Building Products Holdings LLC 2021 Term Loan B | 7.502% (1 mo. USD Term SOFR + 3.75% | ) | 10/16/2028 | 5,485,714 | 4,806,885 | |||||||
| Total | 26,011,535 | |||||||||||
| Software 0.15% | ||||||||||||
| Boxer Parent Co., Inc. 2024 2nd Lien Term Loan | 9.413% (3 mo. USD Term SOFR + 5.75% | ) | 7/30/2032 | 10,315,000 | 8,793,537 | |||||||
| Central Parent, Inc. 2024 Term Loan B | 6.95% (3 mo. USD Term SOFR + 3.25% | ) | 7/6/2029 | 8,270,050 | 4,775,954 | (j) | ||||||
| VCI Asset Holdings 3 LLC Fixed Term Loan | 6.875% | 4/24/2031 | 1,526,000 | 1,510,740 | (j) | |||||||
| Total | 15,080,231 | |||||||||||
| Total Floating Rate Loans (cost $439,687,265) | 426,992,783 | |||||||||||
| FOREIGN GOVERNMENT OBLIGATIONS(d) 0.10% | ||||||||||||
| Angola 0.10% | ||||||||||||
| Angola Government International Bonds (cost $9,694,635) |
9.244% | 1/15/2031 | 9,600,000 | 10,253,434 | ||||||||
| GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.30% | ||||||||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA5 Class B2† | 15.145% (30 day USD SOFR Average + 11.50% | )# | 10/25/2050 | 9,000,000 | 12,359,685 | |||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA1 Class B2† | 8.86% (30 day USD SOFR Average + 5.21% | )# | 1/25/2050 | 2,270,000 | 2,506,248 | |||||||
| See Notes to Schedule of Investments. | 81 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
| GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA3 Class B2† | 9.895% (30 day USD SOFR Average + 6.25% | )# | 9/25/2041 | $ | 1,380,000 | $ | 1,404,665 | |||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA4 Class B2† | 10.645% (30 day USD SOFR Average + 7.00% | )# | 12/25/2041 | 1,845,000 | 1,905,388 | |||||||
| Federal Home Loan Mortgage Corp. STACR Trust Series 2019-HQA1 Class B2† | 16.01% (30 day USD SOFR Average + 12.36% | )# | 2/25/2049 | 2,280,000 | 2,723,475 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R02 Class 2B2† | 9.845% (30 day USD SOFR Average + 6.20% | )# | 11/25/2041 | 883,000 | 905,488 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2B2† | 11.295% (30 day USD SOFR Average + 7.65% | )# | 1/25/2042 | 1,890,000 | 1,972,717 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R06 Class 1B2† | 14.245% (30 day USD SOFR Average + 10.60% | )# | 5/25/2042 | 5,255,000 | 5,738,496 | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R07 Class 1B2† | 15.645% (30 day USD SOFR Average + 12.00% | )# | 6/25/2042 | 685,300 | 764,653 | |||||||
| Total Government Sponsored Enterprises Collateralized
Mortgage Obligations (cost $30,806,270) |
30,280,815 | |||||||||||
| NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 0.17% | ||||||||||||
| JP Morgan Mortgage Trust Series 2025-NQM4 Class B1† | 6.687% | #(k) | 3/25/2066 | 6,250,000 | 6,224,991 | |||||||
| ROCK Trust Series 2024-CNTR Class E† | 8.819% | 11/13/2041 | 10,000,000 | 10,490,232 | ||||||||
| Total Non-Agency Commercial Mortgage-Backed Securities (cost $16,756,077) | 16,715,223 | |||||||||||
| Total Long-Term Investments (cost $9,856,593,260) | 9,815,239,638 | |||||||||||
| 82 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investments | Principal Amount‡ | Fair Value | ||||||
| SHORT-TERM INVESTMENTS 5.62% | ||||||||
| REPURCHASE AGREEMENTS 0.25% | ||||||||
| Repurchase Agreement dated 4/30/2026, 3.600% due 5/1/2026 with Barclays Capital, Inc. collateralized by $6,291,000 of U.S. Treasury Bond at 4.750% due 2/15/2056; value: $6,122,449; proceeds: $6,000,600 (cost $6,000,000) | $ | 6,000,000 | $ | 6,000,000 | ||||
| Repurchase Agreement dated 4/30/2026, 3.250% due 5/1/2026 with Fixed Income Clearing Corp. collateralized by $19,054,200 of U.S. Treasury Note at 3.750% due 6/30/2027; value: $19,270,276; proceeds: $18,894,025 (cost $18,892,319) | 18,892,319 | 18,892,319 | ||||||
| Total Repurchase Agreements (cost $24,892,319) | 24,892,319 | |||||||
| TIME DEPOSITS 0.54% | ||||||||
| CitiBank N.A.(l) (cost $53,652,867) | 53,652,867 | 53,652,867 | ||||||
| Shares | ||||||||
| MONEY MARKET FUNDS 4.83% | ||||||||
| Fidelity Government Portfolio(l) (cost $482,875,801) | 482,875,801 | 482,875,801 | ||||||
| Total Short-Term Investments (cost $561,420,987) | 561,420,987 | |||||||
| Total Investments in Securities 103.79% (cost $10,418,014,247) | 10,376,660,625 | |||||||
| Less Unfunded Loan Commitments (0.14%) (cost $13,884,476) | (13,865,636 | ) | ||||||
| Net Investments in Securities 103.65% (cost $10,404,129,771) | 10,362,794,989 | |||||||
| Other Assets and Liabilities – Net(m) (3.65)% | (364,901,828 | ) | ||||||
| Net Assets 100.00% | $ | 9,997,893,161 | ||||||
| EUR | Euro. | |
| GBP | British Pound. | |
| CMT | Constant Maturity Rate. | |
| EURIBOR | Euro Interbank Offered Rate. | |
| ICE | Intercontinental Exchange. | |
| PIK | Payment-in-kind. | |
| REITS | Real Estate Investment Trusts. | |
| REMICS | Real Estate Mortgage Investment Conduits. | |
| SOFR | Secured Overnight Financing Rate. | |
| STACR | Structured Agency Credit Risk. | |
| ‡ | Principal Amount is denominated in U.S. dollars unless otherwise noted. | |
| † | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At April 30, 2026, the total value of Rule 144A securities was $7,230,555,157, which represents 72.32% of net assets. | |
| # | Variable rate security. The interest rate represents the rate in effect at April 30, 2026. | |
| * | Non-income producing security. | |
| (a) | Level 3 Investment as described in Note 2(a) in the Notes to Schedule of Investments. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments. |
| See Notes to Schedule of Investments. | 83 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| (b) | Securities purchased on a when-issued basis. | |
| (c) | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. | |
| (d) | Foreign security traded in U.S. dollars. | |
| (e) | Security is perpetual in nature and has no stated maturity. | |
| (f) | Defaulted. | |
| (g) | Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the SOFR or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at April 30, 2026. | |
| (h) | Interest rate to be determined. | |
| (i) | Security partially/fully unfunded. | |
| (j) | Level 3 Investment as described in Note 2(a) in the Notes to Schedule of Investments. Floating Rate Loans categorized as Level 3 are valued based on a single quotation obtained from a dealer. Generally accepted accounting principles in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore, the Fund does not have access to unobservable inputs and cannot disclose such inputs in the valuation. | |
| (k) | Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool. | |
| (l) | Security was purchased with the cash collateral from loaned securities. | |
| (m) | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on forward foreign currency exchange contracts, futures contracts and swap contracts as follows: |
Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers – Sell Protection at April 30, 2026(1):
| Referenced Indexes/ Issuers |
Central Clearing Party |
Fund Receives (Quarterly) |
Termination Date |
Notional Amount |
Payments Upfront(2) |
Unrealized Appreciation/ (Depreciation)(3) |
Value | ||||||||||||
| CDX.NA.HY.S46(4) | Bank of America | 5.00% | 6/20/2031 | $ | 279,675,000 | $19,639,118 | $291,845 | $19,930,963 | |||||||||||
| (1) | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities. | |
| (2) | Upfront payments paid (received) are presented net of amortization. | |
| (3) | Total unrealized appreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $291,845. Total unrealized depreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $0. | |
| (4) | Central Clearinghouse: Intercontinental Exchange (ICE). |
Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at April 30, 2026:
| Swap Counterparty | Payments to be Made By The Fund at Termination Date | Payments to be Received By The Fund at Termination Date | Termination Date | Notional Amount | Value/ Unrealized Appreciation | |||||||||||
| Bank of America | 2.600% | CPI Urban Consumer NSA | 4/24/2031 | $434,000,000 | $2,947,212 | (1) | ||||||||||
| CPI | Consumer Price Index: Rate fluctuates based on CPI. | |
| NSA | Non-seasonally adjusted. |
| (1) | Unrealized appreciation on Centrally Cleared CPI Swap Contract is $2,126,565, which includes upfront payment of $820,647. Upfront payments paid (received) by Central Clearing Party are presented net of amortization. |
| 84 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
Credit Default Swap Contracts on Indexes/Issuers – Sell Protection at April 30, 2026(1):
| Referenced Indexes/ Issuers* | Swap Counterparty | Fund Receives (Quarterly) | Termination Date | Notional Amount | Payments Upfront(2) | Unrealized Appreciation/ (Depreciation)(3) | Credit Default Swap Agreements Payable at Fair Value(4) | |||||||||||||||||
| CMBX. NA.BBB-.19 | Citibank | 3.000% | 12/17/2058 | $20,000,000 | $(1,550,000 | ) | $(16,666 | ) | $(1,566,666 | ) | ||||||||||||||
| * | The Referenced Index is for the Credit Default Swap Contracts on Indexes, which is comprised of a basket of commercial mortgage-backed securities. | |
| (1) | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities. | |
| (2) | Upfront payments paid (received) are presented net of amortization. | |
| (3) | Total unrealized appreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $0. Total unrealized depreciation on Credit Default Swap Contracts on Indexes/Issuers amounted to $16,666. | |
| (4) | Includes upfront payments paid (received). |
Forward Foreign Currency Exchange Contracts at April 30, 2026:
| Forward Foreign Currency Exchange Contracts | Transaction Type | Counterparty | Expiration Date | Foreign Currency | U.S. $ Cost on Origination Date | U.S. $ Current Value | Unrealized Appreciation | |||||||||||||||
| British pound | Buy | Citibank | 8/7/2026 | 3,023,000 | $ | 4,083,503 | $ | 4,111,933 | $ | 28,430 | ||||||||||||
| British pound | Buy | Morgan Stanley | 8/7/2026 | 1,462,000 | 1,975,101 | 1,988,636 | 13,535 | |||||||||||||||
| Euro | Buy | Bank of America | 6/5/2026 | 3,635,000 | 4,269,875 | 4,272,432 | 2,557 | |||||||||||||||
| Euro | Buy | Morgan Stanley | 6/5/2026 | 7,034,000 | 8,195,236 | 8,267,480 | 72,244 | |||||||||||||||
| Euro | Buy | Morgan Stanley | 6/5/2026 | 2,101,000 | 2,456,790 | 2,469,431 | 12,641 | |||||||||||||||
| Euro | Buy | Morgan Stanley | 6/5/2026 | 4,384,000 | 5,133,949 | 5,152,777 | 18,828 | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 855,000 | 996,250 | 1,004,933 | 8,683 | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 1,069,000 | 1,244,795 | 1,256,460 | 11,665 | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 5,040,000 | 5,823,060 | 5,923,813 | 100,753 | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 3,960,000 | 4,573,511 | 4,654,424 | 80,913 | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 3,880,000 | 4,488,483 | 4,560,396 | 71,913 | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 4,337,000 | 5,089,386 | 5,097,535 | 8,149 | |||||||||||||||
| Euro | Buy | Toronto Dominion Bank | 6/5/2026 | 1,091,000 | 1,267,496 | 1,282,317 | 14,821 | |||||||||||||||
| Euro | Buy | Toronto Dominion Bank | 6/5/2026 | 2,010,000 | 2,357,319 | 2,362,473 | 5,154 | |||||||||||||||
| Euro | Sell | State Street Bank and Trust | 6/5/2026 | 3,958,000 | 4,675,069 | 4,652,074 | 22,995 | |||||||||||||||
| Euro | Sell | Toronto Dominion Bank | 6/5/2026 | 3,981,000 | 4,705,334 | 4,679,107 | 26,227 | |||||||||||||||
| Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts | $ | 499,508 | ||||||||||||||||||||
| See Notes to Schedule of Investments. | 85 |
Schedule of Investments (unaudited)(continued)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Forward Foreign Currency Exchange Contracts | Transaction Type | Counterparty | Expiration Date | Foreign Currency | U.S. $ Cost on Origination Date | U.S. $ Current Value | Unrealized Depreciation | |||||||||||||||
| Euro | Buy | State Street Bank and Trust | 6/5/2026 | 1,550,000 | $ | 1,831,511 | $ | 1,821,808 | $ | (9,703 | ) | |||||||||||
| British pound | Sell | State Street Bank and Trust | 8/7/2026 | 228,822,000 | 308,768,974 | 311,247,335 | (2,478,361 | ) | ||||||||||||||
| Euro | Sell | Morgan Stanley | 6/5/2026 | 175,103,000 | 204,225,710 | 205,809,007 | (1,583,297 | ) | ||||||||||||||
| Euro | Sell | Morgan Stanley | 6/5/2026 | 4,136,000 | 4,793,561 | 4,861,288 | (67,727 | ) | ||||||||||||||
| Euro | Sell | State Street Bank and Trust | 6/5/2026 | 4,250,000 | 4,980,590 | 4,995,279 | (14,689 | ) | ||||||||||||||
| Euro | Sell | State Street Bank and Trust | 6/5/2026 | 4,364,000 | 5,123,134 | 5,129,270 | (6,136 | ) | ||||||||||||||
| Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts | $ | (4,159,913 | ) | |||||||||||||||||||
Futures Contracts at April 30, 2026:
| Type | Expiration | Contracts | Position | Notional Amount | Notional Value | Unrealized Appreciation | ||||||||||||||||||
| U.S. 5-Year Treasury Note | June 2026 | 3,614 | Short | $ | (389,785,005 | ) | $ | (389,719,080 | ) | $65,925 | ||||||||||||||
The following is a summary of the inputs used as of April 30, 2026 in valuing the Fund’s investments carried at fair value(1):
| Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Long-Term Investments | ||||||||||||||||
| Asset-Backed Securities | ||||||||||||||||
| Credit Card | $ | – | $ | – | $ | 18,258,240 | $ | 18,258,240 | ||||||||
| Remaining Industries | – | 43,793,006 | – | 43,793,006 | ||||||||||||
| Common Stocks | – | 1,374,222 | – | 1,374,222 | ||||||||||||
| Convertible Bonds | – | 299,314,503 | – | 299,314,503 | ||||||||||||
| Convertible Preferred Stocks | – | 68,735,068 | – | 68,735,068 | ||||||||||||
| Corporate Bonds | ||||||||||||||||
| Entertainment | – | 215,434,250 | 12,838,025 | 228,272,275 | ||||||||||||
| Software | – | 147,564,104 | 26,034,000 | 173,598,104 | ||||||||||||
| Remaining Industries | – | 8,497,651,965 | – | 8,497,651,965 | ||||||||||||
| Floating Rate Loans | ||||||||||||||||
| Commercial Services | – | 51,356,007 | 16,478,550 | 67,834,557 | ||||||||||||
| Containers & Packaging | – | 29,934,383 | 978,175 | 30,912,558 | ||||||||||||
| Diversified Financial Services | – | – | 7,396,785 | 7,396,785 | ||||||||||||
| Health Care Products | – | – | 9,702,000 | 9,702,000 | ||||||||||||
| Software | – | 8,793,537 | 6,286,694 | 15,080,231 | ||||||||||||
| Remaining Industries | – | 296,066,652 | – | 296,066,652 | ||||||||||||
| Less Unfunded Loan Commitments | – | (13,865,636 | ) | – | (13,865,636 | ) | ||||||||||
| Foreign Government Obligations | – | 10,253,434 | – | 10,253,434 | ||||||||||||
| Government Sponsored Enterprises Collateralized Mortgage Obligations | – | 30,280,815 | – | 30,280,815 | ||||||||||||
| Non-Agency Commercial Mortgage-Backed Securities | – | 16,715,223 | – | 16,715,223 | ||||||||||||
| 86 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(concluded)
SHORT DURATION HIGH YIELD FUND April 30, 2026
| Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Short-Term Investments | ||||||||||||||||
| Repurchase Agreements | $ | – | $ | 24,892,319 | $ | – | $ | 24,892,319 | ||||||||
| Time Deposits | – | 53,652,867 | – | 53,652,867 | ||||||||||||
| Money Market Funds | 482,875,801 | – | – | 482,875,801 | ||||||||||||
| Total | $ | 482,875,801 | $ | 9,781,946,719 | $ | 97,972,469 | $ | 10,362,794,989 | ||||||||
| Other Financial Instruments | ||||||||||||||||
| Centrally Cleared Credit Default Swap Contracts | ||||||||||||||||
| Assets | $ | – | $ | 19,930,963 | $ | – | $ | 19,930,963 | ||||||||
| Liabilities | – | – | – | – | ||||||||||||
| Centrally Cleared CPI Swap Contracts | – | 2,947,212 | – | 2,947,212 | ||||||||||||
| Assets | – | – | – | – | ||||||||||||
| Liabilities | – | – | – | – | ||||||||||||
| Credit Default Swap Contracts | ||||||||||||||||
| Assets | – | – | – | – | ||||||||||||
| Liabilities | – | (1,566,666 | ) | – | (1,566,666 | ) | ||||||||||
| Forward Foreign Currency Exchange Contracts | ||||||||||||||||
| Assets | – | 499,508 | – | 499,508 | ||||||||||||
| Liabilities | – | (4,159,913 | ) | – | (4,159,913 | ) | ||||||||||
| Futures Contracts | ||||||||||||||||
| Assets | 65,925 | – | – | 65,925 | ||||||||||||
| Liabilities | – | – | – | – | ||||||||||||
| Total | $ | 65,925 | $ | 17,651,104 | $ | – | $ | 17,717,029 | ||||||||
| (1) | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. | |
| (2) | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |
A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation and a summary of unobservable inputs as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.
| See Notes to Schedule of Investments. | 87 |
Notes to Schedule of Investments (unaudited)
| 1. | ORGANIZATION |
Lord Abbett Trust I (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, open-end management investment company and was organized as a Delaware statutory Trust on May 1, 2001. The Trust consists of eight funds as of April 30, 2026. This report covers the following four funds (separately, a “Fund” and collectively, the “Funds”). Lord Abbett Emerging Markets Equity Fund (“Emerging Markets Equity Fund”), Lord Abbett International Growth Fund (“International Growth Fund”), Lord Abbett Investment Grade Floating Rate Fund (“Investment Grade Floating Rate Fund”) and Lord Abbett Short Duration High Yield Fund (“Short Duration High Yield Fund”). Each Fund is diversified within the meaning of the 1940 Act.
| 2. | SIGNIFICANT ACCOUNTING POLICIES |
| (a) |
Investment Valuation–Under procedures approved by the Funds’ Board of Trustees (the “Board”), the Board has designated the determination of fair value of the Funds’ portfolio investments to Lord, Abbett & Co. LLC (“Lord Abbett”) as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a pricing committee (the “Pricing Committee”) that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.
Securities actively traded on any recognized U.S. or non-U.S. exchange or on the NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Fixed income securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services’ own electronic data processing techniques. Floating rate loans are valued at the average of bid and ask quotations obtained from dealers in loans on the basis of prices supplied by independent pricing services. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Swaps, options and options on swaps (“swaptions”) are valued daily using independent pricing services or quotations from broker/dealers to the extent available. |
88
Notes to Schedule of Investments (unaudited)(continued)
Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine fair value of portfolio investments. The Pricing Committee may also use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information to determine the fair value of portfolio investments.. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.
Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. Investments in open-end money market mutual funds are valued at their net asset value as of the close of each business day.
Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk – for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below: |
| • | Level 1 – | unadjusted quoted prices in active markets for identical investments; | |
| • | Level 2 – | other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and | |
| • | Level 3 – | significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments). |
|
A summary of inputs used in valuing each Fund’s investments and other financial instruments as of April 30, 2026 and, if applicable, Level 3 rollforwards for the period then ended is included in each Fund’s Schedule of Investments.
Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. |
89
Notes to Schedule of Investments (unaudited)(concluded)
| 3. | FEDERAL TAX INFORMATION |
It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.
Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s filed U.S. federal tax returns remains open generally three years after the filing of the tax return. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon the jurisdiction.
| 4. | SECURITIES LENDING AGREEMENT |
The Funds have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds’ securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan.
The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.
As of April 30, 2026, the market value of securities loaned and collateral received were as follows:
| Funds | Market Value of Securities Loaned | Collateral Received | ||||||
| Investment Grade Floating Rate Fund | $ | 3,403,533 | $ | 3,491,180 | ||||
| Short Duration High Yield Fund | 513,465,203 | 536,528,668 | ||||||
90
QPHR-TRI-3Q
(06/26)