|
THE “UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS”
LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES
ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS
ADVERTISING OR SALES LITERATURE WITH THE GENERAL
PUBLIC. The list is submitted for the general information of the
shareholders of the Fund. It is not authorized for distribution to
prospective investors in the Fund unless preceded or accompanied by a
prospectus. The list has been created from the books and records of
the Fund. Holdings are available 60 days after the fund’s fiscal quarter,
using a trade date accounting convention, by contacting the appropriate
service center. The list is subject to change without notice. The list is
for informational purposes only and is not intended as an offer or
solicitation with respect to the purchase or sale of any security.
|
|
JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
|
|
J.P. Morgan Distribution Services, Inc., member FINRA.
|
|
© J.P. Morgan Chase & Co., 2026.
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — 32.5%
|
||
|
Aerospace & Defense — 0.5%
|
||
|
ATI, Inc.
|
||
|
5.88%, 12/1/2027
|
960,000
|
961,626
|
|
7.25%, 8/15/2030
|
960,000
|
996,703
|
|
Axon Enterprise, Inc.
|
||
|
6.13%, 3/15/2030 (a)
|
510,000
|
519,831
|
|
6.25%, 3/15/2033 (a)
|
817,000
|
837,467
|
|
BAE Systems plc (United Kingdom) 1.90%, 2/15/2031 (a)
|
400,000
|
353,607
|
|
Bombardier, Inc. (Canada) 8.75%, 11/15/2030 (a)
|
2,285,000
|
2,422,575
|
|
BWX Technologies, Inc. 4.13%, 4/15/2029 (a)
|
580,000
|
561,821
|
|
Honeywell Aerospace, Inc.
|
||
|
4.30%, 3/16/2031 (a)
|
14,725,000
|
14,506,051
|
|
4.95%, 3/16/2036 (a)
|
21,550,000
|
21,316,330
|
|
5.73%, 3/16/2056 (a)
|
1,460,000
|
1,460,567
|
|
Howmet Aerospace, Inc. 4.75%, 4/15/2036
|
4,690,000
|
4,565,440
|
|
ICITII 6.00%, 1/31/2033 ‡ (a)
|
6,353
|
3,116
|
|
L3Harris Technologies, Inc.
|
||
|
5.25%, 6/1/2031
|
300,000
|
306,531
|
|
5.60%, 7/31/2053
|
617,000
|
605,033
|
|
Leidos, Inc. 5.40%, 3/15/2032
|
3,248,000
|
3,313,684
|
|
Lockheed Martin Corp.
|
||
|
4.70%, 5/15/2046
|
100,000
|
88,976
|
|
4.15%, 6/15/2053
|
650,000
|
515,777
|
|
RTX Corp.
|
||
|
4.13%, 11/16/2028
|
1,735,000
|
1,723,878
|
|
1.90%, 9/1/2031
|
450,000
|
392,996
|
|
5.15%, 2/27/2033
|
365,000
|
372,308
|
|
4.50%, 6/1/2042
|
520,000
|
464,838
|
|
3.03%, 3/15/2052
|
650,000
|
418,919
|
|
5.38%, 2/27/2053
|
144,000
|
136,972
|
|
6.40%, 3/15/2054
|
1,935,000
|
2,114,271
|
|
TransDigm, Inc.
|
||
|
6.75%, 8/15/2028 (a)
|
665,000
|
673,209
|
|
6.38%, 3/1/2029 (a)
|
3,432,000
|
3,499,388
|
|
6.88%, 12/15/2030 (a)
|
1,005,000
|
1,035,974
|
|
6.63%, 3/1/2032 (a)
|
3,265,000
|
3,358,160
|
|
6.25%, 1/31/2034 (a)
|
507,000
|
518,916
|
|
|
|
68,044,964
|
|
Automobile Components — 0.2%
|
||
|
Adient Global Holdings Ltd.
|
||
|
7.00%, 4/15/2028 (a)
|
875,000
|
889,757
|
|
7.50%, 2/15/2033 (a)
|
3,797,000
|
3,938,097
|
|
Allison Transmission, Inc.
|
||
|
5.88%, 6/1/2029 (a)
|
2,086,000
|
2,106,428
|
|
3.75%, 1/30/2031 (a)
|
670,000
|
627,568
|
|
5.88%, 12/1/2033 (a)
|
1,282,000
|
1,285,588
|
|
American Axle & Manufacturing, Inc. 6.88%, 7/1/2028
|
214,000
|
214,867
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Automobile Components — continued
|
||
|
Clarios Global LP
|
||
|
6.75%, 5/15/2028 (a)
|
1,215,000
|
1,237,340
|
|
6.75%, 2/15/2030 (a)
|
2,073,000
|
2,142,964
|
|
6.75%, 9/15/2032 (a)
|
315,000
|
322,670
|
|
Cooper-Standard Automotive, Inc. 9.25%, 3/1/2031 (a)
|
4,423,000
|
4,472,759
|
|
Cyprium Corp. 6.13%, 4/15/2031 (a)
|
903,000
|
903,311
|
|
Dana, Inc. 4.50%, 2/15/2032
|
442,000
|
414,324
|
|
Forvia SE (France) 6.75%, 9/15/2033 (a)
|
410,000
|
412,646
|
|
Goodyear Tire & Rubber Co. (The)
|
||
|
4.88%, 3/15/2027
|
150,000
|
149,456
|
|
5.00%, 7/15/2029
|
2,396,000
|
2,288,399
|
|
5.25%, 7/15/2031
|
960,000
|
852,179
|
|
Icahn Enterprises LP 5.25%, 5/15/2027
|
855,000
|
845,733
|
|
IHO Verwaltungs GmbH (Germany)
|
||
|
8.00% (Cash), 11/15/2032 (a) (b)
|
434,783
|
453,796
|
|
7.37% (Cash), 5/15/2033 (a) (b)
|
200,000
|
205,809
|
|
ZF North America Capital, Inc. (Germany) 6.88%, 4/14/2028 (a)
|
790,000
|
809,002
|
|
|
|
24,572,693
|
|
Automobiles — 0.1%
|
||
|
Ford Motor Co.
|
||
|
9.63%, 4/22/2030
|
810,000
|
927,060
|
|
4.75%, 1/15/2043
|
380,000
|
302,885
|
|
General Motors Co. 5.95%, 4/1/2049
|
25,000
|
24,052
|
|
Hyundai Capital America
|
||
|
1.50%, 6/15/2026 (a)
|
940,000
|
938,996
|
|
3.00%, 2/10/2027 (a)
|
200,000
|
198,078
|
|
1.80%, 1/10/2028 (a)
|
350,000
|
334,972
|
|
Volkswagen Group of America Finance LLC (Germany)
|
||
|
5.05%, 3/27/2028 (a)
|
2,950,000
|
2,967,753
|
|
4.75%, 11/13/2028 (a)
|
2,664,000
|
2,662,295
|
|
5.35%, 3/27/2030 (a)
|
7,994,000
|
8,108,234
|
|
|
|
16,464,325
|
|
Banks — 6.3%
|
||
|
ABN AMRO Bank NV (Netherlands)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 6.34%, 9/18/2027 (a) (c)
|
200,000
|
201,038
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.78%), 4.99%, 12/3/2028 (a) (c)
|
2,900,000
|
2,917,107
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.90%), 3.32%, 3/13/2037 (a) (c)
|
200,000
|
180,684
|
|
AIB Group plc (Ireland) (SOFR + 2.33%), 6.61%, 9/13/2029 (a) (c)
|
3,200,000
|
3,335,631
|
|
Banco Bilbao Vizcaya Argentaria SA (Spain) 5.38%, 3/13/2029
|
4,800,000
|
4,911,384
|
|
Banco Nacional de Comercio Exterior SNC (Mexico)
|
||
|
5.88%, 5/7/2030 (a)
|
670,000
|
680,694
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 2.72%, 8/11/2031 (a) (c)
|
1,000,000
|
992,750
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.96%), 6.00%, 5/14/2036 (a) (c)
|
1,475,000
|
1,463,937
|
|
Banco Santander SA (Spain)
|
||
|
5.59%, 8/8/2028
|
3,200,000
|
3,269,676
|
|
6.61%, 11/7/2028
|
600,000
|
628,150
|
|
4.55%, 11/6/2030
|
1,800,000
|
1,772,376
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Banks — continued
|
||
|
5.13%, 11/6/2035
|
4,000,000
|
3,926,251
|
|
Bank of America Corp.
|
||
|
(3-MONTH CME TERM SOFR + 1.84%), 3.82%, 1/20/2028 (c)
|
3,436,000
|
3,424,979
|
|
(3-MONTH CME TERM SOFR + 1.77%), 3.71%, 4/24/2028 (c)
|
1,205,000
|
1,197,955
|
|
(3-MONTH CME TERM SOFR + 1.63%), 3.59%, 7/21/2028 (c)
|
261,000
|
258,741
|
|
(SOFR + 2.04%), 4.95%, 7/22/2028 (c)
|
390,000
|
392,475
|
|
(3-MONTH CME TERM SOFR + 1.30%), 3.42%, 12/20/2028 (c)
|
454,000
|
446,926
|
|
(SOFR + 1.63%), 5.20%, 4/25/2029 (c)
|
1,190,000
|
1,204,925
|
|
(SOFR + 1.06%), 2.09%, 6/14/2029 (c)
|
635,000
|
604,801
|
|
(SOFR + 1.57%), 5.82%, 9/15/2029 (c)
|
3,543,000
|
3,638,258
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.63%, 5/1/2030 (c) (d) (e)
|
7,363,000
|
7,609,616
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.35%), 6.25%, 7/26/2030 (c) (d) (e)
|
5,821,000
|
5,907,673
|
|
(SOFR + 1.53%), 1.90%, 7/23/2031 (c)
|
660,000
|
589,753
|
|
(SOFR + 1.37%), 1.92%, 10/24/2031 (c)
|
7,500,000
|
6,656,245
|
|
(SOFR + 0.87%), 4.46%, 2/6/2032 (c)
|
17,435,000
|
17,169,241
|
|
Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (c)
|
2,660,000
|
2,415,718
|
|
(SOFR + 1.32%), 2.69%, 4/22/2032 (c)
|
5,013,000
|
4,550,849
|
|
(SOFR + 1.04%), 4.70%, 4/23/2032 (c)
|
29,440,000
|
29,261,882
|
|
(SOFR + 1.22%), 2.30%, 7/21/2032 (c)
|
20,150,000
|
17,830,144
|
|
(SOFR + 1.21%), 2.57%, 10/20/2032 (c)
|
640,000
|
570,515
|
|
(SOFR + 1.83%), 4.57%, 4/27/2033 (c)
|
4,049,000
|
3,977,626
|
|
(SOFR + 1.65%), 5.47%, 1/23/2035 (c)
|
2,437,000
|
2,492,037
|
|
(SOFR + 1.91%), 5.43%, 8/15/2035 (c)
|
3,700,000
|
3,716,831
|
|
(SOFR + 1.74%), 5.52%, 10/25/2035 (c)
|
2,155,000
|
2,171,479
|
|
(SOFR + 1.13%), 5.05%, 2/6/2037 (c)
|
14,170,000
|
13,968,699
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 3.85%, 3/8/2037 (c)
|
5,550,000
|
5,169,902
|
|
(3-MONTH CME TERM SOFR + 1.58%), 4.08%, 4/23/2040 (c)
|
112,000
|
98,177
|
|
Bank of Ireland Group plc (Ireland) (SOFR + 1.62%), 5.60%, 3/20/2030 (a) (c)
|
1,935,000
|
1,976,044
|
|
Bank of Montreal (Canada)
|
||
|
5.30%, 6/5/2026
|
300,000
|
300,038
|
|
5.51%, 6/4/2031
|
550,000
|
569,644
|
|
Bank of Nova Scotia (The) (Canada)
|
||
|
2.15%, 8/1/2031
|
650,000
|
575,506
|
|
(SOFR + 1.44%), 4.74%, 11/10/2032 (c)
|
685,000
|
683,270
|
|
Banque Federative du Credit Mutuel SA (France)
|
||
|
1.60%, 10/4/2026 (a)
|
200,000
|
198,343
|
|
5.79%, 7/13/2028 (a)
|
1,005,000
|
1,028,877
|
|
Barclays plc (United Kingdom)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.39%, 11/2/2028 (c)
|
1,400,000
|
1,452,071
|
|
(SOFR + 1.56%), 4.94%, 9/10/2030 (c)
|
5,540,000
|
5,560,249
|
|
(SOFR + 1.14%), 4.52%, 2/24/2032 (c)
|
6,650,000
|
6,510,584
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 7.44%, 11/2/2033 (c)
|
1,335,000
|
1,493,422
|
|
(SOFR + 1.51%), 5.21%, 2/24/2037 (c)
|
7,185,000
|
6,995,106
|
|
BNP Paribas SA (France)
|
||
|
(SOFR + 1.61%), 1.90%, 9/30/2028 (a) (c)
|
450,000
|
434,591
|
|
(SOFR + 1.22%), 2.16%, 9/15/2029 (a) (c)
|
1,500,000
|
1,418,318
|
|
(SOFR + 1.52%), 5.18%, 1/9/2030 (a) (c)
|
9,260,000
|
9,381,499
|
|
(SOFR + 1.92%), 5.91%, 11/19/2035 (a) (c)
|
3,825,000
|
3,902,060
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Banks — continued
|
||
|
BPCE SA (France)
|
||
|
4.75%, 7/19/2027 (a)
|
450,000
|
451,936
|
|
(SOFR + 1.98%), 6.61%, 10/19/2027 (a) (c)
|
1,480,000
|
1,491,752
|
|
5.13%, 1/18/2028 (a)
|
5,745,000
|
5,807,099
|
|
(SOFR + 2.27%), 6.71%, 10/19/2029 (a) (c)
|
5,680,000
|
5,932,744
|
|
(SOFR + 1.68%), 5.88%, 1/14/2031 (a) (c)
|
3,830,000
|
3,941,476
|
|
(SOFR + 1.31%), 2.28%, 1/20/2032 (a) (c)
|
1,275,000
|
1,127,829
|
|
(SOFR + 1.73%), 3.12%, 10/19/2032 (a) (c)
|
3,750,000
|
3,332,825
|
|
(SOFR + 2.59%), 7.00%, 10/19/2034 (a) (c)
|
890,000
|
972,383
|
|
(SOFR + 2.04%), 6.29%, 1/14/2036 (a) (c)
|
9,365,000
|
9,796,144
|
|
CaixaBank SA (Spain)
|
||
|
(SOFR + 2.08%), 6.68%, 9/13/2027 (a) (c)
|
820,000
|
825,012
|
|
(SOFRINDX + 1.78%), 5.67%, 3/15/2030 (a) (c)
|
11,000,000
|
11,265,285
|
|
(SOFR + 1.79%), 5.58%, 7/3/2036 (a) (c)
|
800,000
|
809,076
|
|
Canadian Imperial Bank of Commerce (Canada)
|
||
|
5.99%, 10/3/2028
|
500,000
|
516,523
|
|
(SOFR + 1.34%), 4.63%, 9/11/2030 (c)
|
965,000
|
964,828
|
|
Citibank NA
|
||
|
5.80%, 9/29/2028
|
500,000
|
516,893
|
|
4.84%, 8/6/2029
|
840,000
|
850,519
|
|
Citigroup, Inc.
|
||
|
(SOFR + 0.77%), 1.46%, 6/9/2027 (c)
|
650,000
|
649,592
|
|
(3-MONTH CME TERM SOFR + 1.82%), 3.89%, 1/10/2028 (c)
|
1,115,000
|
1,111,578
|
|
(3-MONTH CME TERM SOFR + 1.65%), 3.67%, 7/24/2028 (c)
|
1,200,000
|
1,190,337
|
|
(3-MONTH CME TERM SOFR + 1.45%), 4.08%, 4/23/2029 (c)
|
1,295,000
|
1,285,502
|
|
Series CC, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.69%),
7.13%, 8/15/2029 (c) (d) (e)
|
11,135,000
|
11,370,104
|
|
(SOFR + 1.36%), 5.17%, 2/13/2030 (c)
|
645,000
|
654,315
|
|
Series EE, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.57%),
6.75%, 2/15/2030 (c) (d) (e)
|
5,520,000
|
5,572,545
|
|
Series FF, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.73%),
6.95%, 2/15/2030 (c) (d) (e)
|
1,965,000
|
1,999,843
|
|
(3-MONTH CME TERM SOFR + 1.60%), 3.98%, 3/20/2030 (c)
|
500,000
|
491,223
|
|
(SOFR + 1.34%), 4.54%, 9/19/2030 (c)
|
20,543,000
|
20,460,129
|
|
(SOFR + 3.91%), 4.41%, 3/31/2031 (c)
|
155,000
|
153,284
|
|
(SOFR + 2.11%), 2.57%, 6/3/2031 (c)
|
620,000
|
570,337
|
|
(SOFR + 1.17%), 4.50%, 9/11/2031 (c)
|
19,823,000
|
19,612,244
|
|
(SOFR + 1.17%), 2.56%, 5/1/2032 (c)
|
13,540,000
|
12,183,039
|
|
(SOFR + 1.18%), 2.52%, 11/3/2032 (c)
|
1,665,000
|
1,478,611
|
|
(SOFR + 1.94%), 3.79%, 3/17/2033 (c)
|
840,000
|
791,616
|
|
(SOFR + 2.34%), 6.27%, 11/17/2033 (c)
|
2,500,000
|
2,673,779
|
|
(SOFR + 2.06%), 5.83%, 2/13/2035 (c)
|
9,140,000
|
9,332,641
|
|
(SOFR + 1.47%), 5.33%, 3/27/2036 (c)
|
5,450,000
|
5,491,508
|
|
(SOFR + 1.49%), 5.17%, 9/11/2036 (c)
|
13,507,000
|
13,440,816
|
|
(SOFR + 1.38%), 2.90%, 11/3/2042 (c)
|
45,000
|
32,649
|
|
Cooperatieve Rabobank UA (Netherlands) (US Treasury Yield Curve Rate T Note Constant
Maturity 1 Year + 1.22%), 3.65%,
4/6/2028 (a) (c)
|
890,000
|
884,102
|
|
Credit Agricole SA (France)
|
||
|
5.30%, 7/12/2028 (a)
|
990,000
|
1,006,594
|
|
(SOFR + 1.21%), 4.63%, 9/11/2028 (a) (c)
|
670,000
|
670,511
|
|
(SOFR + 1.86%), 6.32%, 10/3/2029 (a) (c)
|
3,245,000
|
3,362,307
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Banks — continued
|
||
|
(SOFR + 1.74%), 5.86%, 1/9/2036 (a) (c)
|
8,090,000
|
8,337,543
|
|
Danske Bank A/S (Denmark)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.71%, 3/1/2030 (a) (c)
|
845,000
|
866,567
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 4.61%, 10/2/2030 (a) (c)
|
1,113,000
|
1,107,250
|
|
DNB Bank ASA (Norway) (SOFR + 1.05%), 4.85%, 11/5/2030 (a) (c)
|
2,500,000
|
2,518,367
|
|
Fifth Third Bancorp (SOFR + 0.95%), 4.57%, 4/29/2032 (c)
|
2,775,000
|
2,729,050
|
|
HSBC Holdings plc (United Kingdom)
|
||
|
(SOFR + 1.57%), 5.89%, 8/14/2027 (c)
|
1,015,000
|
1,017,862
|
|
(SOFR + 2.61%), 5.21%, 8/11/2028 (c)
|
305,000
|
307,488
|
|
(SOFR + 1.73%), 2.01%, 9/22/2028 (c)
|
5,370,000
|
5,198,405
|
|
(SOFR + 0.94%), 4.71%, 5/12/2030 (c)
|
5,760,000
|
5,748,019
|
|
(3-MONTH CME TERM SOFR + 1.87%), 3.97%, 5/22/2030 (c)
|
11,750,000
|
11,512,009
|
|
(SOFR + 1.29%), 5.29%, 11/19/2030 (c)
|
17,600,000
|
17,853,815
|
|
(SOFR + 1.29%), 5.13%, 3/3/2031 (c)
|
18,540,000
|
18,711,913
|
|
(SOFR + 1.19%), 4.62%, 11/6/2031 (c)
|
14,075,000
|
13,903,796
|
|
(SOFR + 1.52%), 5.73%, 5/17/2032 (c)
|
1,475,000
|
1,521,563
|
|
(SOFR + 1.19%), 2.80%, 5/24/2032 (c)
|
500,000
|
452,266
|
|
(SOFR + 1.32%), 5.21%, 5/12/2034 (c)
|
6,260,000
|
6,249,023
|
|
(SOFR + 1.55%), 5.28%, 3/10/2037 (c)
|
10,085,000
|
9,978,012
|
|
Huntington Bancshares, Inc. (SOFRINDX + 1.87%), 5.71%, 2/2/2035 (c)
|
1,226,000
|
1,256,556
|
|
Intesa Sanpaolo SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity
1 Year + 2.75%), 4.95%,
6/1/2042 (a) (c)
|
10,700,000
|
9,224,408
|
|
KBC Group NV (Belgium) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year
+ 1.07%), 4.93%,
10/16/2030 (a) (c)
|
1,425,000
|
1,431,879
|
|
KeyCorp (SOFRINDX + 1.23%), 5.12%, 4/4/2031 (c)
|
3,430,000
|
3,461,502
|
|
Lloyds Banking Group plc (United Kingdom)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.46%, 1/5/2028 (c)
|
350,000
|
352,168
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 4.98%, 8/11/2033 (c)
|
1,160,000
|
1,156,425
|
|
M&T Bank Corp. (SOFR + 1.61%), 5.39%, 1/16/2036 (c)
|
3,562,000
|
3,554,150
|
|
Mitsubishi UFJ Financial Group, Inc. (Japan)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.75%), 1.54%, 7/20/2027 (c)
|
1,060,000
|
1,055,879
|
|
Series 8NC7, (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.53%),
5.48%, 2/22/2031 (c)
|
200,000
|
204,861
|
|
Mizuho Financial Group, Inc. (Japan)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 5.78%, 7/6/2029 (c)
|
580,000
|
594,807
|
|
(3-MONTH CME TERM SOFR + 1.77%), 2.20%, 7/10/2031 (c)
|
450,000
|
406,531
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.90%), 5.75%, 7/6/2034 (c)
|
270,000
|
280,651
|
|
Morgan Stanley Bank NA (SOFRINDX + 0.97%), 4.79%, 5/10/2030 (c)
|
7,100,000
|
7,120,126
|
|
Morgan Stanley Private Bank NA (SOFR + 1.02%), 4.47%, 11/19/2031 (c)
|
8,010,000
|
7,888,202
|
|
National Australia Bank Ltd. (Australia) 4.90%, 6/13/2028
|
250,000
|
253,080
|
|
NatWest Group plc (United Kingdom)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 3.07%, 5/22/2028 (c)
|
600,000
|
592,262
|
|
(3-MONTH SOFR + 1.91%), 5.08%, 1/27/2030 (c)
|
1,015,000
|
1,024,154
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.78%, 3/1/2035 (c)
|
415,000
|
430,189
|
|
NatWest Markets plc (United Kingdom)
|
||
|
5.41%, 5/17/2029 (a)
|
2,295,000
|
2,344,893
|
|
5.02%, 3/21/2030 (a)
|
6,660,000
|
6,725,527
|
|
Nordea Bank Abp (Finland) 5.38%, 9/22/2027 (a)
|
400,000
|
405,621
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Banks — continued
|
||
|
PNC Financial Services Group, Inc. (The)
|
||
|
2.55%, 1/22/2030
|
639,000
|
596,178
|
|
(SOFR + 0.98%), 2.31%, 4/23/2032 (c)
|
50,000
|
44,626
|
|
(SOFR + 1.26%), 4.81%, 10/21/2032 (c)
|
2,015,000
|
2,010,337
|
|
(SOFR + 1.95%), 5.94%, 8/18/2034 (c)
|
680,000
|
715,708
|
|
(SOFR + 2.28%), 6.88%, 10/20/2034 (c)
|
4,765,000
|
5,266,049
|
|
(SOFR + 1.90%), 5.68%, 1/22/2035 (c)
|
400,000
|
413,057
|
|
(SOFR + 1.42%), 5.37%, 7/21/2036 (c)
|
1,745,000
|
1,762,079
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 5.42%, 1/25/2041 (c)
|
3,700,000
|
3,636,412
|
|
Royal Bank of Canada (Canada) (SOFRINDX + 1.08%), 4.65%, 10/18/2030 (c)
|
8,845,000
|
8,856,010
|
|
Santander UK Group Holdings plc (United Kingdom)
|
||
|
(SOFR + 1.22%), 2.47%, 1/11/2028 (c)
|
4,200,000
|
4,146,226
|
|
(SOFRINDX + 1.55%), 4.86%, 9/11/2030 (c)
|
5,560,000
|
5,563,843
|
|
(SOFRINDX + 1.52%), 5.69%, 4/15/2031 (c)
|
9,771,000
|
10,021,681
|
|
(SOFR + 1.48%), 2.90%, 3/15/2032 (c)
|
869,000
|
789,455
|
|
Skandinaviska Enskilda Banken AB (Sweden) 5.38%, 3/5/2029 (a)
|
410,000
|
418,696
|
|
Societe Generale SA (France)
|
||
|
5.25%, 2/19/2027 (a)
|
4,650,000
|
4,679,651
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.79%, 6/9/2027 (a) (c)
|
200,000
|
199,896
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.80%, 1/19/2028 (a) (c)
|
1,200,000
|
1,186,863
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 6.45%, 1/10/2029 (a) (c)
|
1,800,000
|
1,850,406
|
|
3.00%, 1/22/2030 (a)
|
550,000
|
514,981
|
|
(SOFR + 1.65%), 5.51%, 5/22/2031 (a) (c)
|
2,070,000
|
2,108,377
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.10%, 4/13/2033 (a) (c)
|
3,860,000
|
4,014,606
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 6.07%, 1/19/2035 (a) (c)
|
2,078,000
|
2,154,787
|
|
(SOFR + 1.60%), 5.40%, 4/10/2037 (a) (c)
|
19,035,000
|
18,642,741
|
|
Standard Chartered plc (United Kingdom)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 5.69%, 5/14/2028 (a) (c)
|
555,000
|
560,494
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.45%), 7.77%, 11/16/2028 (a) (c)
|
1,400,000
|
1,462,986
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 5.55%, 1/21/2029 (a) (c)
|
8,000,000
|
8,095,280
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.95%), 4.53%, 6/5/2032 (a) (c)
|
5,000,000
|
4,887,100
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.45%), 5.91%, 5/14/2035 (a) (c)
|
1,615,000
|
1,664,387
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 5.40%, 8/12/2036 (a) (c)
|
9,265,000
|
9,236,371
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 5.24%, 1/13/2037 (a) (c)
|
1,850,000
|
1,813,157
|
|
Sumitomo Mitsui Financial Group, Inc. (Japan)
|
||
|
5.52%, 1/13/2028
|
255,000
|
259,515
|
|
5.72%, 9/14/2028
|
680,000
|
697,293
|
|
5.42%, 7/9/2031
|
950,000
|
974,446
|
|
5.77%, 1/13/2033
|
200,000
|
209,046
|
|
Sumitomo Mitsui Trust Bank Ltd. (Japan) 4.95%, 9/15/2027 (a)
|
200,000
|
201,606
|
|
Svenska Handelsbanken AB (Sweden) 5.50%, 6/15/2028 (a)
|
970,000
|
990,822
|
|
Swedbank AB (Sweden) 5.34%, 9/20/2027 (a)
|
200,000
|
202,613
|
|
TC Ziraat Bankasi A/S (Turkey) 7.25%, 2/4/2030 (a)
|
1,627,000
|
1,640,219
|
|
Toronto-Dominion Bank (The) (Canada)
|
||
|
5.52%, 7/17/2028
|
100,000
|
102,277
|
|
4.99%, 4/5/2029
|
1,010,000
|
1,023,704
|
|
2.00%, 9/10/2031
|
385,000
|
341,013
|
|
4.46%, 6/8/2032
|
120,000
|
118,211
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Banks — continued
|
||
|
4.87%, 4/22/2033
|
12,420,000
|
12,337,005
|
|
Truist Financial Corp.
|
||
|
(SOFR + 2.05%), 6.05%, 6/8/2027 (c)
|
2,300,000
|
2,300,863
|
|
(SOFR + 1.85%), 5.12%, 1/26/2034 (c)
|
2,090,000
|
2,090,956
|
|
(SOFR + 2.36%), 5.87%, 6/8/2034 (c)
|
5,588,000
|
5,826,191
|
|
(SOFR + 1.92%), 5.71%, 1/24/2035 (c)
|
5,758,000
|
5,933,913
|
|
(SOFR + 1.40%), 4.96%, 10/23/2036 (c)
|
1,500,000
|
1,454,291
|
|
UniCredit SpA (Italy)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (c)
|
200,000
|
199,972
|
|
(USD ICE Swap Rate 5 Year + 4.91%), 7.30%, 4/2/2034 (a) (c)
|
3,000,000
|
3,162,274
|
|
US Bancorp
|
||
|
(SOFR + 0.73%), 2.22%, 1/27/2028 (c)
|
800,000
|
788,815
|
|
(SOFR + 1.56%), 5.38%, 1/23/2030 (c)
|
370,000
|
377,464
|
|
(SOFR + 1.25%), 5.10%, 7/23/2030 (c)
|
1,145,000
|
1,162,174
|
|
(SOFR + 1.30%), 5.08%, 5/15/2031 (c)
|
1,865,000
|
1,891,027
|
|
(SOFR + 1.86%), 5.68%, 1/23/2035 (c)
|
250,000
|
258,229
|
|
Wells Fargo & Co.
|
||
|
3.00%, 10/23/2026
|
360,000
|
358,544
|
|
(SOFR + 1.07%), 5.71%, 4/22/2028 (c)
|
2,110,000
|
2,134,047
|
|
(3-MONTH CME TERM SOFR + 1.57%), 3.58%, 5/22/2028 (c)
|
1,481,000
|
1,469,574
|
|
(SOFR + 1.98%), 4.81%, 7/25/2028 (c)
|
320,000
|
320,985
|
|
(SOFR + 1.74%), 5.57%, 7/25/2029 (c)
|
8,360,000
|
8,524,514
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 6.85%, 9/15/2029 (c) (d) (e)
|
4,810,000
|
4,984,786
|
|
(SOFR + 1.79%), 6.30%, 10/23/2029 (c)
|
6,840,000
|
7,102,805
|
|
(SOFR + 1.11%), 5.24%, 1/24/2031 (c)
|
25,360,000
|
25,792,296
|
|
(SOFR + 1.50%), 5.15%, 4/23/2031 (c)
|
18,976,000
|
19,257,969
|
|
(SOFR + 0.97%), 4.84%, 5/20/2032 (c)
|
8,590,000
|
8,582,884
|
|
(SOFR + 1.50%), 3.35%, 3/2/2033 (c)
|
2,340,000
|
2,154,644
|
|
(SOFR + 1.99%), 5.56%, 7/25/2034 (c)
|
6,914,000
|
7,112,636
|
|
(SOFR + 2.06%), 6.49%, 10/23/2034 (c)
|
1,820,000
|
1,970,649
|
|
(SOFR + 1.38%), 5.21%, 12/3/2035 (c)
|
3,515,000
|
3,518,766
|
|
(SOFR + 1.74%), 5.61%, 4/23/2036 (c)
|
6,330,000
|
6,494,000
|
|
(SOFR + 1.10%), 4.96%, 1/23/2037 (c)
|
15,648,000
|
15,281,963
|
|
|
|
791,850,537
|
|
Beverages — 0.0% ^
|
||
|
Constellation Brands, Inc. 4.65%, 11/15/2028
|
345,000
|
345,733
|
|
Maple Parent Holdings Corp.
|
||
|
5.70%, 3/26/2036 (a)
|
1,349,000
|
1,363,309
|
|
6.63%, 3/26/2056 (a)
|
1,448,000
|
1,508,848
|
|
PepsiCo, Inc. 3.60%, 8/13/2042
|
1,640,000
|
1,314,054
|
|
|
|
4,531,944
|
|
Biotechnology — 0.7%
|
||
|
AbbVie, Inc.
|
||
|
4.55%, 3/15/2035
|
5,000,000
|
4,857,709
|
|
4.75%, 3/15/2036
|
2,420,000
|
2,371,761
|
|
4.05%, 11/21/2039
|
9,507,000
|
8,384,096
|
|
4.63%, 10/1/2042
|
4,000,000
|
3,608,468
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Biotechnology — continued
|
||
|
4.25%, 11/21/2049
|
1,647,000
|
1,348,232
|
|
5.55%, 3/15/2056
|
1,465,000
|
1,436,884
|
|
5.50%, 3/15/2064
|
5,720,000
|
5,508,996
|
|
Amgen, Inc.
|
||
|
5.25%, 3/2/2030
|
175,000
|
178,867
|
|
4.85%, 2/19/2036
|
15,000,000
|
14,703,597
|
|
3.15%, 2/21/2040
|
977,000
|
760,972
|
|
5.60%, 3/2/2043
|
7,800,000
|
7,741,850
|
|
4.66%, 6/15/2051
|
960,000
|
814,627
|
|
4.88%, 3/1/2053
|
4,933,000
|
4,297,360
|
|
5.65%, 3/2/2053
|
800,000
|
777,743
|
|
5.75%, 3/2/2063
|
6,000
|
5,824
|
|
Biogen, Inc.
|
||
|
2.25%, 5/1/2030
|
3,960,000
|
3,616,580
|
|
5.75%, 5/15/2035
|
15,000,000
|
15,624,257
|
|
3.25%, 2/15/2051
|
2,554,000
|
1,670,245
|
|
6.45%, 5/15/2055
|
8,288,000
|
8,814,148
|
|
CSL Finance plc (Australia) 5.11%, 4/3/2034 (a)
|
1,370,000
|
1,375,449
|
|
Gilead Sciences, Inc.
|
||
|
1.65%, 10/1/2030
|
518,000
|
459,929
|
|
4.15%, 3/1/2047
|
330,000
|
269,961
|
|
|
|
88,627,555
|
|
Broadline Retail — 0.2%
|
||
|
Amazon.com, Inc.
|
||
|
4.88%, 3/13/2036
|
8,510,000
|
8,407,652
|
|
5.65%, 3/13/2046
|
2,970,000
|
2,966,024
|
|
5.80%, 3/13/2056
|
8,901,000
|
8,909,494
|
|
Nordstrom, Inc. 4.38%, 4/1/2030
|
675,000
|
645,326
|
|
Shutterfly Finance LLC 8.50% (Cash), 10/1/2027 (a) (b)
|
12,713
|
12,630
|
|
Wayfair LLC
|
||
|
7.25%, 10/31/2029 (a)
|
2,800,000
|
2,880,931
|
|
7.75%, 9/15/2030 (a)
|
140,000
|
145,741
|
|
6.75%, 11/15/2032 (a)
|
315,000
|
319,983
|
|
7.13%, 5/31/2034 (a)
|
337,000
|
343,383
|
|
|
|
24,631,164
|
|
Building Products — 0.3%
|
||
|
Builders FirstSource, Inc.
|
||
|
4.25%, 2/1/2032 (a)
|
6,105,000
|
5,616,823
|
|
6.38%, 3/1/2034 (a)
|
1,035,000
|
1,034,117
|
|
EMRLD Borrower LP 6.63%, 12/15/2030 (a)
|
5,695,000
|
5,822,302
|
|
Griffon Corp. 5.75%, 3/1/2028
|
1,805,000
|
1,804,590
|
|
Masterbrand, Inc. 7.00%, 7/15/2032 (a)
|
1,955,000
|
1,951,366
|
|
Miter Brands Acquisition Holdco, Inc. 6.75%, 4/1/2032 (a)
|
2,215,000
|
2,177,919
|
|
Quikrete Holdings, Inc. 6.38%, 3/1/2032 (a)
|
4,786,000
|
4,873,411
|
|
Smyrna Ready Mix Concrete LLC 8.88%, 11/15/2031 (a)
|
4,440,000
|
4,680,459
|
|
Standard Building Solutions, Inc.
|
||
|
6.50%, 8/15/2032 (a)
|
1,540,000
|
1,563,023
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Building Products — continued
|
||
|
6.25%, 8/1/2033 (a)
|
2,319,000
|
2,322,509
|
|
5.88%, 3/15/2034 (a)
|
501,000
|
488,477
|
|
Standard Industries, Inc.
|
||
|
4.75%, 1/15/2028 (a)
|
1,040,000
|
1,034,966
|
|
4.38%, 7/15/2030 (a)
|
5,060,000
|
4,819,197
|
|
|
|
38,189,159
|
|
Capital Markets — 2.8%
|
||
|
Bank of New York Mellon Corp. (The)
|
||
|
(SOFR + 1.60%), 6.32%, 10/25/2029 (c)
|
400,000
|
416,512
|
|
(SOFR + 1.42%), 4.29%, 6/13/2033 (c)
|
180,000
|
174,628
|
|
(SOFR + 1.85%), 6.47%, 10/25/2034 (c)
|
1,760,000
|
1,921,411
|
|
Charles Schwab Corp. (The)
|
||
|
(SOFR + 1.23%), 4.91%, 11/14/2036 (c)
|
5,575,000
|
5,424,383
|
|
(SOFR + 1.28%), 5.49%, 5/21/2037 (c)
|
14,380,000
|
14,583,560
|
|
Deutsche Bank AG (Germany)
|
||
|
(SOFR + 2.52%), 7.15%, 7/13/2027 (c)
|
315,000
|
315,933
|
|
(SOFR + 1.32%), 2.55%, 1/7/2028 (c)
|
1,300,000
|
1,285,202
|
|
(SOFR + 1.59%), 5.71%, 2/8/2028 (c)
|
167,000
|
168,403
|
|
(SOFR + 1.21%), 5.37%, 1/10/2029 (c)
|
4,550,000
|
4,600,915
|
|
(SOFR + 3.18%), 6.72%, 1/18/2029 (c)
|
195,000
|
201,346
|
|
5.41%, 5/10/2029
|
325,000
|
333,297
|
|
(SOFR + 2.51%), 6.82%, 11/20/2029 (c)
|
825,000
|
864,933
|
|
(SOFR + 1.10%), 4.47%, 12/10/2031 (c)
|
10,775,000
|
10,601,973
|
|
(SOFR + 1.14%), 4.73%, 2/6/2032 (c)
|
8,900,000
|
8,762,466
|
|
(SOFR + 2.26%), 3.74%, 1/7/2033 (c)
|
3,170,000
|
2,903,204
|
|
(SOFR + 3.65%), 7.08%, 2/10/2034 (c)
|
3,355,000
|
3,598,739
|
|
Goldman Sachs Group, Inc. (The)
|
||
|
3.50%, 11/16/2026
|
726,000
|
724,011
|
|
(SOFR + 1.51%), 4.39%, 6/15/2027 (c)
|
117,000
|
117,000
|
|
(SOFR + 1.11%), 2.64%, 2/24/2028 (c)
|
150,000
|
148,102
|
|
(3-MONTH CME TERM SOFR + 1.77%), 3.69%, 6/5/2028 (c)
|
1,620,000
|
1,608,758
|
|
(3-MONTH CME TERM SOFR + 1.42%), 3.81%, 4/23/2029 (c)
|
2,205,000
|
2,173,539
|
|
(3-MONTH CME TERM SOFR + 1.56%), 4.22%, 5/1/2029 (c)
|
1,500,000
|
1,489,125
|
|
(SOFR + 1.77%), 6.48%, 10/24/2029 (c)
|
4,915,000
|
5,117,868
|
|
Series Z, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%),
6.85%, 2/10/2030 (c) (d) (e)
|
3,341,000
|
3,426,195
|
|
(SOFR + 1.27%), 5.73%, 4/25/2030 (c)
|
2,045,000
|
2,101,154
|
|
(SOFR + 1.21%), 5.05%, 7/23/2030 (c)
|
290,000
|
292,694
|
|
(SOFR + 1.14%), 4.69%, 10/23/2030 (c)
|
1,620,000
|
1,617,440
|
|
(SOFR + 1.08%), 5.21%, 1/28/2031 (c)
|
12,660,000
|
12,827,797
|
|
(SOFR + 1.58%), 5.22%, 4/23/2031 (c)
|
10,835,000
|
10,993,663
|
|
(SOFR + 1.06%), 4.37%, 10/21/2031 (c)
|
9,550,000
|
9,360,467
|
|
(SOFR + 0.96%), 4.52%, 1/21/2032 (c)
|
15,000,000
|
14,768,484
|
|
(SOFR + 1.28%), 2.62%, 4/22/2032 (c)
|
4,335,000
|
3,904,249
|
|
(SOFR + 1.55%), 5.33%, 7/23/2035 (c)
|
4,040,000
|
4,065,967
|
|
(SOFR + 1.42%), 5.02%, 10/23/2035 (c)
|
11,912,000
|
11,735,884
|
|
(SOFR + 1.33%), 4.94%, 10/21/2036 (c)
|
24,920,000
|
24,203,922
|
|
(SOFR + 1.19%), 5.07%, 1/21/2037 (c)
|
7,600,000
|
7,434,806
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Capital Markets — continued
|
||
|
(SOFR + 1.51%), 3.21%, 4/22/2042 (c)
|
160,000
|
120,774
|
|
(SOFR + 1.63%), 3.44%, 2/24/2043 (c)
|
18,000
|
13,803
|
|
Morgan Stanley
|
||
|
(SOFR + 1.00%), 2.48%, 1/21/2028 (c)
|
914,000
|
903,363
|
|
3.59%, 7/22/2028 (f)
|
330,000
|
326,693
|
|
(SOFR + 1.73%), 5.12%, 2/1/2029 (c)
|
260,000
|
262,308
|
|
(SOFR + 1.63%), 5.45%, 7/20/2029 (c)
|
2,440,000
|
2,482,983
|
|
(SOFR + 1.83%), 6.41%, 11/1/2029 (c)
|
300,000
|
311,941
|
|
(SOFR + 1.45%), 5.17%, 1/16/2030 (c)
|
2,070,000
|
2,095,320
|
|
(3-MONTH CME TERM SOFR + 1.89%), 4.43%, 1/23/2030 (c)
|
1,573,000
|
1,564,131
|
|
(SOFR + 1.22%), 5.04%, 7/19/2030 (c)
|
3,510,000
|
3,542,131
|
|
(SOFR + 1.10%), 4.65%, 10/18/2030 (c)
|
13,380,000
|
13,332,823
|
|
(SOFR + 1.11%), 5.23%, 1/15/2031 (c)
|
5,380,000
|
5,460,531
|
|
(SOFR + 1.51%), 5.19%, 4/17/2031 (c)
|
14,905,000
|
15,125,260
|
|
(SOFR + 0.95%), 4.49%, 1/16/2032 (c)
|
16,180,000
|
15,921,132
|
|
(SOFR + 1.03%), 1.79%, 2/13/2032 (c)
|
3,200,000
|
2,785,498
|
|
(SOFR + 1.20%), 4.71%, 3/12/2032 (c)
|
18,015,000
|
17,850,180
|
|
(SOFRINDX + 1.18%), 4.81%, 4/16/2032 (c)
|
18,000,000
|
17,923,477
|
|
(SOFR + 1.29%), 2.94%, 1/21/2033 (c)
|
1,265,000
|
1,140,524
|
|
(SOFR + 1.88%), 5.42%, 7/21/2034 (c)
|
2,448,000
|
2,495,032
|
|
(SOFR + 1.58%), 5.83%, 4/19/2035 (c)
|
7,196,000
|
7,486,524
|
|
(SOFR + 1.56%), 5.32%, 7/19/2035 (c)
|
3,910,000
|
3,949,163
|
|
(SOFR + 1.36%), 2.48%, 9/16/2036 (c)
|
420,000
|
365,185
|
|
(SOFR + 1.18%), 5.07%, 1/30/2037 (c)
|
8,431,000
|
8,255,911
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (c)
|
3,596,000
|
3,720,888
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.80%), 5.94%, 2/7/2039 (c)
|
2,000,000
|
2,067,191
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 5.31%, 1/18/2041 (c)
|
1,435,000
|
1,401,680
|
|
(SOFR + 1.49%), 3.22%, 4/22/2042 (c)
|
285,000
|
217,897
|
|
S&P Global, Inc.
|
||
|
2.95%, 3/1/2029 (g)
|
456,000
|
438,406
|
|
3.25%, 12/1/2049
|
563,000
|
389,229
|
|
State Street Corp. Series I, (US Treasury Yield Curve Rate T Note Constant Maturity
5 Year + 2.61%), 6.70%,
3/15/2029 (c) (d) (e)
|
337,000
|
346,498
|
|
UBS AG (Switzerland) (SOFR + 1.11%), 4.63%, 2/16/2032 (c)
|
15,000,000
|
14,944,061
|
|
UBS Americas, Inc. (Switzerland) 7.13%, 7/15/2032
|
53,000
|
59,222
|
|
UBS Group AG (Switzerland)
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 4.75%, 5/12/2028 (a) (c)
|
200,000
|
200,653
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.52%), 5.43%, 2/8/2030 (a) (c)
|
483,000
|
491,318
|
|
(3-MONTH SOFR + 1.47%), 3.13%, 8/13/2030 (a) (c)
|
2,350,000
|
2,235,678
|
|
(USD SOFR ICE Swap Rate 1 Year + 1.34%), 5.62%, 9/13/2030 (a) (c)
|
8,195,000
|
8,413,505
|
|
(SOFR + 3.73%), 4.19%, 4/1/2031 (a) (c)
|
10,000,000
|
9,766,144
|
|
(SOFR + 1.34%), 5.01%, 3/23/2037 (a) (c)
|
2,520,000
|
2,456,443
|
|
|
|
345,131,530
|
|
Chemicals — 0.4%
|
||
|
Avient Corp.
|
||
|
7.13%, 8/1/2030 (a)
|
1,260,000
|
1,282,039
|
|
6.25%, 11/1/2031 (a)
|
1,165,000
|
1,181,854
|
|
Axalta Coating Systems Dutch Holding B BV 7.25%, 2/15/2031 (a)
|
1,995,000
|
2,077,130
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Chemicals — continued
|
||
|
Axalta Coating Systems LLC
|
||
|
4.75%, 6/15/2027 (a)
|
1,300,000
|
1,297,378
|
|
3.38%, 2/15/2029 (a)
|
950,000
|
906,832
|
|
Braskem Netherlands Finance BV (Brazil) 4.50%, 1/31/2030 (a)
|
2,500,000
|
1,537,500
|
|
Celanese US Holdings LLC
|
||
|
7.00%, 2/15/2031
|
2,904,000
|
3,009,796
|
|
7.38%, 7/15/2032 (g)
|
300,000
|
315,294
|
|
7.38%, 2/15/2034
|
6,849,000
|
7,153,418
|
|
Chemours Co. (The)
|
||
|
5.75%, 11/15/2028 (a)
|
941,000
|
939,317
|
|
7.88%, 3/15/2034 (a)
|
495,000
|
502,100
|
|
EIDP, Inc. 4.80%, 5/15/2033
|
320,000
|
316,008
|
|
Element Solutions, Inc. 3.88%, 9/1/2028 (a)
|
625,000
|
607,862
|
|
INEOS Finance plc (Luxembourg)
|
||
|
6.75%, 5/15/2028 (a)
|
1,000,000
|
1,006,169
|
|
7.50%, 4/15/2029 (a)
|
210,000
|
208,964
|
|
LYB International Finance III LLC 5.88%, 1/15/2036
|
8,546,000
|
8,665,733
|
|
NOVA Chemicals Corp. (Canada)
|
||
|
8.50%, 11/15/2028 (a)
|
1,045,000
|
1,084,452
|
|
9.00%, 2/15/2030 (a)
|
4,120,000
|
4,339,036
|
|
OCP SA (Morocco) 7.50%, 5/2/2054 (a)
|
2,658,000
|
2,847,462
|
|
Scotts Miracle-Gro Co. (The)
|
||
|
4.50%, 10/15/2029
|
2,915,000
|
2,841,471
|
|
4.38%, 2/1/2032
|
2,740,000
|
2,548,370
|
|
Sherwin-Williams Co. (The) 4.50%, 6/1/2047
|
15,000
|
12,619
|
|
Solstice Advanced Materials, Inc. 5.63%, 9/30/2033 (a)
|
3,467,000
|
3,427,691
|
|
WR Grace Holdings LLC
|
||
|
6.63%, 8/15/2032 (a)
|
2,670,000
|
2,649,394
|
|
7.00%, 8/1/2033 (a)
|
281,000
|
278,744
|
|
|
|
51,036,633
|
|
Commercial Services & Supplies — 0.5%
|
||
|
ACCO Brands Corp. 4.25%, 3/15/2029 (a)
|
1,697,000
|
1,562,033
|
|
ADT Security Corp. (The)
|
||
|
4.13%, 8/1/2029 (a)
|
2,740,000
|
2,631,500
|
|
4.88%, 7/15/2032 (a)
|
1,245,000
|
1,178,902
|
|
Allied Universal Holdco LLC 4.63%, 6/1/2028 (a)
|
450,000
|
443,304
|
|
Brink's Co. (The) 6.75%, 6/15/2032 (a)
|
2,175,000
|
2,228,037
|
|
GFL Environmental, Inc.
|
||
|
4.00%, 8/1/2028 (a)
|
1,105,000
|
1,080,594
|
|
4.75%, 6/15/2029 (a)
|
3,605,000
|
3,550,087
|
|
6.75%, 1/15/2031 (a)
|
2,763,000
|
2,852,878
|
|
Jonah
|
||
|
12.00%, 6/1/2029 ‡
|
25,403,884
|
25,403,884
|
|
12.50%, 3/21/2033 ‡
|
10,000,000
|
10,000,000
|
|
Madison IAQ LLC 4.13%, 6/30/2028 (a)
|
1,415,000
|
1,397,333
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Commercial Services & Supplies — continued
|
||
|
Williams Scotsman, Inc. 7.38%, 10/1/2031 (a)
|
2,635,000
|
2,751,375
|
|
Wrangler Holdco Corp. (Canada) 6.63%, 4/1/2032 (a)
|
3,375,000
|
3,465,477
|
|
|
|
58,545,404
|
|
Construction & Engineering — 0.1%
|
||
|
AECOM 6.00%, 8/1/2033 (a)
|
2,088,000
|
2,091,238
|
|
Bioceanico Sovereign Certificate Ltd. (Paraguay) Zero Coupon, 6/5/2034 (a)
|
689,097
|
575,551
|
|
Dycom Industries, Inc. 4.50%, 4/15/2029 (a)
|
1,010,000
|
992,205
|
|
Global Infrastructure Solutions, Inc. 5.63%, 6/1/2029 (a)
|
2,323,000
|
2,319,555
|
|
Granite Construction, Inc. 6.38%, 6/15/2034 (a) (h)
|
440,000
|
449,025
|
|
Quanta Services, Inc. 5.25%, 8/9/2034
|
2,876,000
|
2,908,394
|
|
|
|
9,335,968
|
|
Construction Materials — 0.0% ^
|
||
|
Knife River Corp. 7.75%, 5/1/2031 (a)
|
1,742,000
|
1,808,537
|
|
Consumer Finance — 1.1%
|
||
|
AerCap Ireland Capital DAC (Ireland)
|
||
|
2.45%, 10/29/2026
|
1,260,000
|
1,251,200
|
|
3.00%, 10/29/2028
|
4,747,000
|
4,573,716
|
|
3.30%, 1/30/2032
|
1,990,000
|
1,820,913
|
|
5.00%, 11/15/2035
|
1,421,000
|
1,379,560
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.95%, 3/10/2055 (c)
|
760,000
|
787,763
|
|
Ally Financial, Inc. 6.70%, 2/14/2033
|
1,200,000
|
1,239,338
|
|
American Express Co.
|
||
|
1.65%, 11/4/2026
|
480,000
|
475,386
|
|
5.85%, 11/5/2027
|
270,000
|
275,961
|
|
(SOFR + 1.44%), 5.02%, 4/25/2031 (c)
|
4,142,000
|
4,194,958
|
|
(SOFR + 1.22%), 4.92%, 7/20/2033 (c)
|
1,590,000
|
1,591,913
|
|
(SOFR + 1.79%), 5.67%, 4/25/2036 (c)
|
1,240,000
|
1,286,030
|
|
Avolon Holdings Funding Ltd. (Ireland)
|
||
|
6.38%, 5/4/2028 (a)
|
975,000
|
1,002,085
|
|
5.75%, 3/1/2029 (a)
|
6,680,000
|
6,823,019
|
|
5.75%, 11/15/2029 (a)
|
9,701,000
|
9,937,316
|
|
5.15%, 1/15/2030 (a)
|
3,938,000
|
3,956,587
|
|
5.38%, 5/30/2030 (a)
|
5,000,000
|
5,054,050
|
|
4.90%, 10/10/2030 (a)
|
10,900,000
|
10,818,795
|
|
4.95%, 10/15/2032 (a)
|
5,400,000
|
5,266,404
|
|
Capital One Financial Corp. (SOFR + 1.27%), 2.62%, 11/2/2032 (c)
|
100,000
|
88,550
|
|
Ford Motor Credit Co. LLC
|
||
|
6.80%, 5/12/2028
|
1,090,000
|
1,123,773
|
|
7.20%, 6/10/2030
|
550,000
|
583,117
|
|
4.00%, 11/13/2030
|
1,600,000
|
1,511,661
|
|
5.42%, 4/9/2031
|
10,555,000
|
10,521,743
|
|
5.75%, 4/6/2033
|
16,616,000
|
16,576,821
|
|
6.47%, 5/22/2036
|
12,425,000
|
12,745,439
|
|
General Motors Financial Co., Inc. 5.95%, 4/4/2034
|
5,570,000
|
5,783,890
|
|
Medallion Financial Corp. Series QIB, 8.25%, 5/1/2031 (a)
|
13,000,000
|
12,975,300
|
|
OneMain Finance Corp.
|
||
|
3.88%, 9/15/2028
|
3,230,000
|
3,124,978
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Consumer Finance — continued
|
||
|
6.63%, 5/15/2029
|
3,260,000
|
3,310,817
|
|
5.38%, 11/15/2029
|
1,205,000
|
1,175,679
|
|
Stellantis Financial Services US Corp.
|
||
|
5.40%, 6/15/2029 (a)
|
4,295,000
|
4,305,854
|
|
5.80%, 6/15/2031 (a)
|
2,860,000
|
2,865,497
|
|
|
|
138,428,113
|
|
Consumer Staples Distribution & Retail — 0.1%
|
||
|
Albertsons Cos., Inc.
|
||
|
3.50%, 3/15/2029 (a)
|
1,870,000
|
1,784,094
|
|
4.88%, 2/15/2030 (a)
|
955,000
|
930,100
|
|
5.50%, 3/31/2031 (a)
|
1,186,000
|
1,167,798
|
|
5.63%, 3/31/2032 (a)
|
3,284,000
|
3,206,236
|
|
5.75%, 3/31/2034 (a)
|
775,000
|
746,601
|
|
Performance Food Group, Inc.
|
||
|
6.13%, 9/15/2032 (a)
|
1,373,000
|
1,388,110
|
|
5.63%, 3/1/2034 (a)
|
894,000
|
873,609
|
|
Sysco Corp. 5.10%, 9/23/2030
|
250,000
|
253,149
|
|
|
|
10,349,697
|
|
Containers & Packaging — 0.3%
|
||
|
Amcor Flexibles North America, Inc. 5.10%, 3/17/2030
|
7,210,000
|
7,301,715
|
|
Ardagh Group SA
|
||
|
9.50%, 12/1/2030 (a)
|
398,000
|
424,931
|
|
12.00% (Blend (Cash 5.50% + PIK 6.50%)), 12/1/2030 (a) (b) (f)
|
1,275,000
|
1,142,410
|
|
Ball Corp.
|
||
|
6.00%, 6/15/2029
|
1,085,000
|
1,103,084
|
|
3.13%, 9/15/2031
|
685,000
|
619,623
|
|
5.50%, 9/15/2033
|
1,595,000
|
1,602,187
|
|
Berry Global, Inc. 5.80%, 6/15/2031
|
15,630,000
|
16,261,223
|
|
Clydesdale Acquisition Holdings, Inc. 6.75%, 4/15/2032 (a)
|
2,350,000
|
2,258,825
|
|
Graphic Packaging International LLC
|
||
|
4.75%, 7/15/2027 (a)
|
108,000
|
107,358
|
|
6.38%, 7/15/2032 (a)
|
2,000,000
|
2,016,718
|
|
Mauser Packaging Solutions Holding Co. 7.88%, 4/15/2030 (a)
|
1,745,000
|
1,762,480
|
|
Packaging Corp. of America
|
||
|
4.05%, 12/15/2049
|
285,000
|
220,466
|
|
3.05%, 10/1/2051
|
85,000
|
54,824
|
|
Sonoco Products Co. 3.13%, 5/1/2030
|
3,495,000
|
3,290,316
|
|
TriMas Corp. 4.13%, 4/15/2029 (a)
|
637,000
|
611,939
|
|
|
|
38,778,099
|
|
Distributors — 0.1%
|
||
|
American Builders & Contractors Supply Co., Inc.
|
||
|
4.00%, 1/15/2028 (a)
|
1,930,000
|
1,892,377
|
|
3.88%, 11/15/2029 (a)
|
525,000
|
499,490
|
|
RB Global Holdings, Inc. (Canada) 7.75%, 3/15/2031 (a)
|
3,717,000
|
3,864,803
|
|
Resideo Funding, Inc. 6.50%, 7/15/2032 (a)
|
1,350,000
|
1,357,239
|
|
|
|
7,613,909
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Diversified — 0.1%
|
||
|
Ygrene Frn 8.50%, 7/25/2045 ‡ (a)
|
10,088,955
|
10,139,399
|
|
Diversified Consumer Services — 0.1%
|
||
|
Service Corp. International
|
||
|
5.13%, 6/1/2029
|
2,420,000
|
2,417,123
|
|
4.00%, 5/15/2031
|
1,370,000
|
1,288,032
|
|
5.75%, 10/15/2032
|
1,315,000
|
1,325,676
|
|
Wand NewCo 3, Inc. 7.63%, 1/30/2032 (a)
|
2,192,000
|
2,267,249
|
|
|
|
7,298,080
|
|
Diversified REITs — 0.0% ^
|
||
|
Simon Property Group LP
|
||
|
2.45%, 9/13/2029
|
500,000
|
468,643
|
|
3.25%, 9/13/2049
|
31,000
|
21,335
|
|
WP Carey, Inc.
|
||
|
2.40%, 2/1/2031
|
700,000
|
629,088
|
|
2.25%, 4/1/2033
|
145,000
|
121,444
|
|
|
|
1,240,510
|
|
Diversified Telecommunication Services — 1.4%
|
||
|
APLD ComputeCo 2 LLC 6.75%, 3/15/2031 (a)
|
1,745,000
|
1,758,843
|
|
AT&T, Inc.
|
||
|
1.65%, 2/1/2028
|
450,000
|
430,541
|
|
4.90%, 11/1/2035
|
20,317,000
|
19,824,870
|
|
5.13%, 4/30/2036
|
9,185,000
|
9,057,116
|
|
5.25%, 10/30/2036
|
7,075,000
|
7,004,158
|
|
3.50%, 6/1/2041
|
260,000
|
202,200
|
|
3.65%, 6/1/2051
|
1,015,000
|
701,971
|
|
3.50%, 9/15/2053
|
1,990,000
|
1,315,967
|
|
5.70%, 11/1/2054
|
6,075,000
|
5,730,292
|
|
3.55%, 9/15/2055
|
15,540,000
|
10,160,142
|
|
6.00%, 4/30/2056
|
5,000,000
|
4,902,178
|
|
6.05%, 8/15/2056
|
5,000,000
|
4,941,054
|
|
CCO Holdings LLC
|
||
|
5.38%, 6/1/2029 (a)
|
1,880,000
|
1,845,450
|
|
4.75%, 3/1/2030 (a)
|
11,009,000
|
10,404,476
|
|
4.50%, 8/15/2030 (a)
|
8,274,000
|
7,700,270
|
|
4.25%, 2/1/2031 (a)
|
9,065,000
|
8,207,461
|
|
4.75%, 2/1/2032 (a)
|
6,980,000
|
6,222,646
|
|
7.00%, 2/1/2033 (a)
|
500,000
|
488,747
|
|
4.50%, 6/1/2033 (a)
|
250,000
|
213,794
|
|
Cipher Compute LLC 7.13%, 11/15/2030 (a)
|
2,779,000
|
2,896,972
|
|
Comcast Corp.
|
||
|
2.65%, 2/1/2030
|
2,230,000
|
2,086,037
|
|
4.25%, 10/15/2030
|
1,344,000
|
1,327,811
|
|
1.95%, 1/15/2031
|
7,000,000
|
6,210,208
|
|
1.50%, 2/15/2031
|
450,000
|
390,604
|
|
5.30%, 6/1/2034
|
540,000
|
548,761
|
|
3.90%, 3/1/2038
|
515,000
|
443,074
|
|
3.25%, 11/1/2039
|
813,000
|
628,958
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Diversified Telecommunication Services — continued
|
||
|
4.05%, 11/1/2052
|
500,000
|
360,324
|
|
5.35%, 5/15/2053
|
7,585,000
|
6,716,410
|
|
2.94%, 11/1/2056
|
12,319,000
|
6,908,871
|
|
2.99%, 11/1/2063
|
2,200,000
|
1,179,358
|
|
Edged Compute LLC 7.50%, 4/30/2031 (a)
|
950,000
|
952,453
|
|
Fibercop SpA (Italy) 7.72%, 6/4/2038 (a)
|
1,000,000
|
1,012,256
|
|
Flash Compute LLC 7.25%, 12/31/2030 (a)
|
1,703,000
|
1,755,679
|
|
Level 3 Financing, Inc.
|
||
|
6.88%, 6/30/2033 (a)
|
3,810,000
|
3,924,422
|
|
7.00%, 3/31/2034 (a)
|
1,225,000
|
1,269,696
|
|
Meridian Arc Holdco LLC 6.25%, 4/30/2031 (a)
|
4,572,000
|
4,595,509
|
|
PR RNO Property Owner 1 LLC 6.50%, 5/1/2031 (a)
|
3,018,000
|
3,022,135
|
|
RD Michigan Property Owner I LLC 7.50%, 3/30/2045 (a)
|
13,961,000
|
13,989,017
|
|
Sprint Capital Corp. 6.88%, 11/15/2028
|
258,000
|
271,852
|
|
Verizon Communications, Inc.
|
||
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.04%), 6.20%, 5/14/2056 (c)
|
3,336,000
|
3,386,264
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.81%), 6.05%, 5/14/2058 (c)
|
5,008,000
|
5,072,583
|
|
Virgin Media Secured Finance plc (United Kingdom) 5.50%, 5/15/2029 (a)
|
580,000
|
557,524
|
|
WULF Compute LLC 7.75%, 10/15/2030 (a)
|
4,022,000
|
4,226,157
|
|
|
|
174,845,111
|
|
Electric Utilities — 2.1%
|
||
|
Alabama Power Co.
|
||
|
3.05%, 3/15/2032
|
200,000
|
183,851
|
|
5.85%, 11/15/2033
|
275,000
|
290,092
|
|
Alliant Energy Finance LLC 5.40%, 6/6/2027 (a)
|
330,000
|
332,981
|
|
Baltimore Gas and Electric Co.
|
||
|
3.20%, 9/15/2049
|
295,000
|
196,790
|
|
2.90%, 6/15/2050
|
550,000
|
346,093
|
|
Comision Ejecutiva Hidroelectrica del Rio Lempa (El Salvador) 8.65%, 1/24/2033 (a)
|
1,078,000
|
1,142,680
|
|
Comision Federal de Electricidad (Mexico)
|
||
|
6.45%, 1/24/2035 (i)
|
1,000,000
|
998,080
|
|
6.50%, 1/28/2051 (a)
|
928,000
|
901,413
|
|
Connecticut Light and Power Co. (The) 4.00%, 4/1/2048
|
46,000
|
36,440
|
|
Consumers 2023 Securitization Funding LLC Series A2, 5.21%, 9/1/2030
|
771,000
|
785,207
|
|
DTE Electric Co.
|
||
|
5.20%, 3/1/2034
|
500,000
|
511,097
|
|
Series B, 3.25%, 4/1/2051
|
2,000,000
|
1,345,020
|
|
Series B, 3.65%, 3/1/2052
|
50,000
|
36,311
|
|
DTE Electric Securitization Funding II LLC Series A-2, 6.09%, 9/1/2037
|
400,000
|
430,050
|
|
Duke Energy Carolinas LLC 3.20%, 8/15/2049
|
634,000
|
428,135
|
|
Duke Energy Corp. 5.80%, 6/15/2054
|
550,000
|
534,891
|
|
Duke Energy Florida LLC
|
||
|
5.88%, 11/15/2033
|
230,000
|
243,763
|
|
6.20%, 11/15/2053
|
1,740,000
|
1,840,684
|
|
Duke Energy Indiana LLC
|
||
|
Series YYY, 3.25%, 10/1/2049
|
125,000
|
85,290
|
|
2.75%, 4/1/2050
|
395,000
|
242,469
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Electric Utilities — continued
|
||
|
5.40%, 4/1/2053
|
2,770,000
|
2,620,297
|
|
Duke Energy Ohio, Inc. 5.25%, 4/1/2033
|
624,000
|
637,764
|
|
Duke Energy Progress LLC 5.55%, 3/15/2055
|
3,232,000
|
3,142,791
|
|
Duquesne Light Holdings, Inc. 2.53%, 10/1/2030 (a)
|
148,000
|
133,129
|
|
Edison International
|
||
|
5.25%, 11/15/2028
|
100,000
|
100,484
|
|
5.45%, 6/15/2029
|
278,000
|
280,164
|
|
6.95%, 11/15/2029
|
245,000
|
257,158
|
|
Electricite de France SA (France)
|
||
|
6.90%, 5/23/2053 (a)
|
316,000
|
341,815
|
|
6.13%, 4/22/2056 (a)
|
5,000,000
|
4,942,984
|
|
Emera US Finance LP (Canada) 2.64%, 6/15/2031
|
1,570,000
|
1,409,617
|
|
Emera, Inc. (Canada) Series 16-A, (3-MONTH SOFR + 5.44%), 6.75%, 6/15/2076 (c)
|
4,976,000
|
4,977,130
|
|
ENEL Finance International NV (Italy)
|
||
|
5.13%, 6/26/2029 (a)
|
1,085,000
|
1,097,868
|
|
5.50%, 6/26/2034 (a)
|
3,260,000
|
3,309,304
|
|
5.00%, 9/30/2035 (a)
|
6,485,000
|
6,325,058
|
|
5.75%, 9/30/2055 (a)
|
2,700,000
|
2,560,279
|
|
Entergy Arkansas LLC
|
||
|
4.00%, 6/1/2028
|
13,000
|
12,918
|
|
2.65%, 6/15/2051
|
274,000
|
161,348
|
|
Entergy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.67%),
7.13%, 12/1/2054 (c)
|
9,544,000
|
9,896,947
|
|
Entergy Louisiana LLC
|
||
|
2.40%, 10/1/2026
|
69,000
|
68,610
|
|
1.60%, 12/15/2030
|
500,000
|
439,271
|
|
2.90%, 3/15/2051
|
823,000
|
515,374
|
|
5.70%, 3/15/2054
|
1,230,000
|
1,211,950
|
|
Entergy Mississippi LLC
|
||
|
5.00%, 9/1/2033
|
535,000
|
536,699
|
|
3.50%, 6/1/2051
|
20,000
|
13,941
|
|
5.85%, 6/1/2054
|
5,715,000
|
5,697,348
|
|
Entergy Texas Restoration Funding LLC Series A-2, 3.70%, 12/15/2035
|
215,000
|
203,750
|
|
Entergy Texas, Inc.
|
||
|
1.75%, 3/15/2031
|
535,000
|
467,832
|
|
3.55%, 9/30/2049
|
2,000,000
|
1,419,765
|
|
5.55%, 9/15/2054
|
4,039,000
|
3,855,341
|
|
Evergy Kansas Central, Inc. 4.13%, 3/1/2042
|
240,000
|
200,521
|
|
Eversource Energy
|
||
|
4.60%, 7/1/2027
|
31,000
|
31,059
|
|
5.45%, 3/1/2028
|
100,000
|
101,426
|
|
3.38%, 3/1/2032
|
365,000
|
335,969
|
|
Fells Point Funding Trust 3.05%, 1/31/2027 (a)
|
1,570,000
|
1,556,319
|
|
FirstEnergy Corp. Series B, 3.90%, 7/15/2027 (g)
|
2,330,000
|
2,315,259
|
|
FirstEnergy Transmission LLC 2.87%, 9/15/2028 (a)
|
965,000
|
928,662
|
|
Florida Power & Light Co.
|
||
|
3.70%, 12/1/2047
|
60,000
|
45,246
|
|
5.30%, 4/1/2053
|
390,000
|
368,186
|
|
5.70%, 3/15/2055
|
2,350,000
|
2,339,578
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Electric Utilities — continued
|
||
|
Generadora de Gatun SA (Panama) 6.87%, 9/30/2044 (a)
|
2,154,000
|
2,196,477
|
|
Georgia Power Co. 5.25%, 3/15/2034
|
3,515,000
|
3,583,087
|
|
ITC Holdings Corp.
|
||
|
4.95%, 9/22/2027 (a)
|
432,000
|
434,149
|
|
2.95%, 5/14/2030 (a)
|
3,053,000
|
2,848,646
|
|
5.40%, 6/1/2033 (a)
|
300,000
|
304,702
|
|
5.65%, 5/9/2034 (a)
|
7,615,000
|
7,822,377
|
|
Jersey Central Power & Light Co. 2.75%, 3/1/2032 (a)
|
8,920,000
|
8,001,327
|
|
Kentucky Utilities Co. 5.13%, 11/1/2040
|
404,000
|
391,174
|
|
MidAmerican Energy Co.
|
||
|
3.65%, 4/15/2029
|
46,000
|
45,114
|
|
5.85%, 9/15/2054
|
110,000
|
111,628
|
|
Mid-Atlantic Interstate Transmission LLC 4.10%, 5/15/2028 (a)
|
430,000
|
426,778
|
|
Mississippi Power Co. Series 12-A, 4.25%, 3/15/2042
|
240,000
|
202,485
|
|
Monongahela Power Co. 5.85%, 2/15/2034 (a)
|
210,000
|
219,855
|
|
Nevada Power Co. 6.00%, 3/15/2054
|
600,000
|
607,973
|
|
NextEra Energy Capital Holdings, Inc.
|
||
|
5.00%, 7/15/2032
|
60,000
|
60,538
|
|
5.25%, 2/28/2053
|
80,000
|
72,627
|
|
5.55%, 3/15/2054
|
5,000,000
|
4,735,739
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.75%, 6/15/2054 (c)
|
620,000
|
646,881
|
|
5.90%, 3/15/2055
|
3,780,000
|
3,738,450
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 6.38%, 8/15/2055 (c)
|
3,443,000
|
3,524,479
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.98%), 6.50%, 8/15/2055 (c)
|
3,835,000
|
3,972,703
|
|
NRG Energy, Inc.
|
||
|
2.45%, 12/2/2027 (a)
|
60,000
|
58,090
|
|
3.38%, 2/15/2029 (a)
|
1,460,000
|
1,393,384
|
|
5.25%, 6/15/2029 (a)
|
4,570,000
|
4,546,824
|
|
4.73%, 10/15/2030 (a)
|
670,000
|
659,932
|
|
6.00%, 2/1/2033 (a)
|
3,845,000
|
3,874,074
|
|
5.75%, 1/15/2034 (a)
|
3,707,000
|
3,666,712
|
|
5.88%, 5/15/2034 (a)
|
870,000
|
864,530
|
|
5.41%, 10/15/2035 (a)
|
7,539,000
|
7,402,721
|
|
6.00%, 1/15/2036 (a)
|
1,445,000
|
1,435,350
|
|
6.13%, 5/15/2036 (a)
|
216,000
|
215,531
|
|
OGE Energy Corp. 5.45%, 5/15/2029
|
330,000
|
337,065
|
|
Ohio Power Co. Series R, 2.90%, 10/1/2051
|
225,000
|
136,914
|
|
Oklahoma Gas and Electric Co. 5.40%, 1/15/2033
|
100,000
|
103,217
|
|
Oncor Electric Delivery Co. LLC
|
||
|
3.10%, 9/15/2049
|
290,000
|
191,208
|
|
4.95%, 9/15/2052
|
400,000
|
355,212
|
|
Pacific Gas and Electric Co.
|
||
|
5.00%, 6/4/2028
|
1,559,000
|
1,569,637
|
|
4.65%, 8/1/2028
|
2,200,000
|
2,195,456
|
|
6.10%, 1/15/2029
|
605,000
|
624,280
|
|
5.05%, 10/15/2032
|
4,040,000
|
4,019,022
|
|
6.40%, 6/15/2033
|
5,860,000
|
6,236,222
|
|
5.70%, 3/1/2035
|
9,460,000
|
9,585,821
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Electric Utilities — continued
|
||
|
4.20%, 6/1/2041
|
30,000
|
24,628
|
|
3.75%, 8/15/2042 (g)
|
3,165,000
|
2,386,203
|
|
5.90%, 10/1/2054
|
2,000,000
|
1,892,551
|
|
Palomino Funding Trust I 7.23%, 5/17/2028 (a)
|
2,100,000
|
2,185,081
|
|
PG&E Corp.
|
||
|
5.00%, 7/1/2028
|
1,116,000
|
1,110,535
|
|
5.25%, 7/1/2030
|
910,000
|
900,338
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.88%), 7.38%, 3/15/2055 (c)
|
5,980,000
|
6,089,926
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.85%, 9/15/2056 (c)
|
822,000
|
819,082
|
|
PG&E Recovery Funding LLC
|
||
|
Series A-2, 5.23%, 6/1/2042
|
965,000
|
958,397
|
|
Series A-3, 5.54%, 7/15/2047
|
185,000
|
181,964
|
|
Series A-3, 5.53%, 6/1/2049
|
1,145,000
|
1,130,605
|
|
PG&E Wildfire Recovery Funding LLC
|
||
|
Series A-2, 4.26%, 6/1/2036
|
25,000
|
24,016
|
|
Series A-4, 5.21%, 12/1/2047
|
40,000
|
37,745
|
|
Series A-5, 5.10%, 6/1/2052
|
70,000
|
64,164
|
|
PPL Electric Utilities Corp.
|
||
|
6.25%, 5/15/2039
|
382,000
|
413,311
|
|
5.25%, 5/15/2053
|
70,000
|
65,523
|
|
Public Service Co. of Oklahoma
|
||
|
5.25%, 1/15/2033
|
155,000
|
157,331
|
|
Series G, 6.63%, 11/15/2037
|
725,000
|
779,158
|
|
Series K, 3.15%, 8/15/2051
|
150,000
|
96,712
|
|
Public Service Electric and Gas Co. 4.65%, 3/15/2033
|
520,000
|
515,540
|
|
RWE Finance US LLC (Germany) 5.88%, 4/16/2034 (a)
|
660,000
|
683,587
|
|
SCE Recovery Funding LLC Series A-1, 4.70%, 6/15/2040
|
43,968
|
42,748
|
|
Sigeco Securitization I LLC
|
||
|
Series A1, 5.03%, 11/15/2036
|
43,967
|
44,187
|
|
Series A2, 5.17%, 5/15/2041
|
49,000
|
47,376
|
|
Southern California Edison Co.
|
||
|
5.30%, 3/1/2028
|
719,000
|
726,597
|
|
5.65%, 10/1/2028
|
600,000
|
612,862
|
|
5.25%, 3/15/2030
|
7,950,000
|
8,045,318
|
|
Series G, 2.50%, 6/1/2031
|
775,000
|
691,559
|
|
5.45%, 6/1/2031
|
530,000
|
540,915
|
|
5.95%, 11/1/2032
|
2,000,000
|
2,085,979
|
|
5.20%, 6/1/2034
|
6,190,000
|
6,119,736
|
|
5.45%, 3/1/2035
|
971,000
|
970,176
|
|
Series C, 4.13%, 3/1/2048
|
238,000
|
179,062
|
|
Series 20A, 2.95%, 2/1/2051
|
430,000
|
258,645
|
|
5.70%, 3/1/2053
|
1,430,000
|
1,316,604
|
|
5.88%, 12/1/2053
|
1,967,000
|
1,870,375
|
|
5.75%, 4/15/2054
|
390,000
|
361,668
|
|
Southern Co. (The)
|
||
|
5.50%, 3/15/2029
|
390,000
|
400,032
|
|
5.20%, 6/15/2033
|
109,000
|
110,387
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Electric Utilities — continued
|
||
|
Southwestern Electric Power Co.
|
||
|
5.30%, 4/1/2033
|
130,000
|
131,927
|
|
3.25%, 11/1/2051
|
210,000
|
137,572
|
|
Southwestern Public Service Co. 4.50%, 8/15/2041
|
74,000
|
65,370
|
|
Trinidad Generation UnLtd (Trinidad And Tobago) 7.75%, 6/16/2033 (a)
|
997,000
|
1,054,328
|
|
Tucson Electric Power Co.
|
||
|
1.50%, 8/1/2030
|
448,000
|
394,841
|
|
5.50%, 4/15/2053
|
54,000
|
51,546
|
|
Union Electric Co.
|
||
|
5.20%, 4/1/2034
|
400,000
|
406,845
|
|
5.45%, 3/15/2053
|
555,000
|
531,382
|
|
5.25%, 1/15/2054
|
1,450,000
|
1,337,180
|
|
5.13%, 3/15/2055
|
1,365,000
|
1,242,324
|
|
Virginia Electric and Power Co. 5.70%, 8/15/2053
|
730,000
|
720,028
|
|
Vistra Operations Co. LLC
|
||
|
5.05%, 12/30/2026 (a)
|
3,115,000
|
3,124,099
|
|
5.00%, 7/31/2027 (a)
|
515,000
|
514,677
|
|
4.30%, 10/15/2028 (a)
|
13,331,000
|
13,163,830
|
|
4.38%, 5/1/2029 (a)
|
490,000
|
480,534
|
|
4.30%, 7/15/2029 (a)
|
3,000,000
|
2,948,732
|
|
4.60%, 10/15/2030 (a)
|
374,000
|
366,682
|
|
4.70%, 1/31/2031 (a)
|
3,255,000
|
3,198,258
|
|
7.75%, 10/15/2031 (a)
|
5,430,000
|
5,691,960
|
|
6.00%, 4/15/2034 (a)
|
5,943,000
|
6,122,996
|
|
5.70%, 12/30/2034 (a)
|
5,370,000
|
5,432,426
|
|
5.35%, 1/31/2036 (a)
|
2,285,000
|
2,234,342
|
|
VoltaGrid LLC 7.38%, 11/1/2030 (a)
|
1,040,000
|
1,082,962
|
|
Wisconsin Public Service Corp. 4.75%, 11/1/2044
|
69,000
|
61,479
|
|
|
|
264,625,832
|
|
Electrical Equipment — 0.2%
|
||
|
Eaton Corp.
|
||
|
4.50%, 3/6/2033
|
5,000,000
|
4,915,361
|
|
4.15%, 3/15/2033
|
400,000
|
388,512
|
|
4.80%, 3/6/2036
|
14,855,000
|
14,613,753
|
|
EnerSys
|
||
|
4.38%, 12/15/2027 (a)
|
630,000
|
625,816
|
|
6.63%, 1/15/2032 (a)
|
500,000
|
514,266
|
|
Sensata Technologies BV
|
||
|
4.00%, 4/15/2029 (a)
|
433,000
|
422,426
|
|
5.88%, 9/1/2030 (a)
|
655,000
|
659,136
|
|
Solaris Energy Infrastructure LLC 6.38%, 5/15/2031 (a)
|
734,000
|
745,485
|
|
|
|
22,884,755
|
|
Electronic Equipment, Instruments & Components — 0.1%
|
||
|
Coherent Corp. 5.00%, 12/15/2029 (a)
|
1,845,000
|
1,826,186
|
|
Ingram Micro, Inc. 4.75%, 5/15/2029 (a)
|
3,410,000
|
3,351,557
|
|
Insight Enterprises, Inc. 6.63%, 5/15/2032 (a)
|
1,245,000
|
1,264,682
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Electronic Equipment, Instruments & Components — continued
|
||
|
Sensata Technologies, Inc.
|
||
|
4.38%, 2/15/2030 (a)
|
520,000
|
506,673
|
|
3.75%, 2/15/2031 (a)
|
1,035,000
|
970,702
|
|
6.63%, 7/15/2032 (a)
|
3,495,000
|
3,619,670
|
|
|
|
11,539,470
|
|
Energy Equipment & Services — 0.2%
|
||
|
Archrock Partners LP 6.63%, 9/1/2032 (a)
|
840,000
|
859,942
|
|
Archrock Services LP 6.00%, 2/1/2034 (a)
|
1,754,000
|
1,754,674
|
|
Baker Hughes Holdings LLC
|
||
|
2.06%, 12/15/2026
|
400,000
|
395,874
|
|
5.00%, 6/15/2036
|
16,550,000
|
16,300,796
|
|
4.08%, 12/15/2047
|
350,000
|
280,135
|
|
5.85%, 6/15/2056
|
2,175,000
|
2,168,255
|
|
Diamond Foreign Asset Co. 8.50%, 10/1/2030 (a)
|
666,000
|
700,589
|
|
Kodiak Gas Services LLC
|
||
|
5.88%, 4/1/2031 (a)
|
360,000
|
362,194
|
|
6.50%, 10/1/2033 (a)
|
2,202,000
|
2,240,951
|
|
Noble Finance II LLC 8.00%, 4/15/2030 (a)
|
1,285,000
|
1,336,197
|
|
Schlumberger Holdings Corp. 3.90%, 5/17/2028 (a)
|
214,000
|
212,183
|
|
Valaris Ltd. 8.38%, 4/30/2030 (a)
|
1,605,000
|
1,671,609
|
|
Yinson Boronia Production BV (Brazil) 8.95%, 7/31/2042 (a)
|
485,730
|
534,473
|
|
|
|
28,817,872
|
|
Entertainment — 0.1%
|
||
|
Cinemark USA, Inc.
|
||
|
5.25%, 7/15/2028 (a)
|
865,000
|
860,471
|
|
7.00%, 8/1/2032 (a)
|
1,190,000
|
1,231,719
|
|
Discovery Global Holdings, Inc.
|
||
|
4.28%, 3/15/2032
|
1,160,000
|
1,046,900
|
|
5.05%, 3/15/2042
|
655,000
|
478,969
|
|
Live Nation Entertainment, Inc.
|
||
|
6.50%, 5/15/2027 (a)
|
2,080,000
|
2,082,280
|
|
4.75%, 10/15/2027 (a)
|
2,555,000
|
2,545,285
|
|
Take-Two Interactive Software, Inc.
|
||
|
3.70%, 4/14/2027
|
115,000
|
114,435
|
|
5.40%, 6/12/2029
|
616,000
|
628,870
|
|
5.60%, 6/12/2034
|
2,459,000
|
2,520,611
|
|
|
|
11,509,540
|
|
Financial Services — 1.4%
|
||
|
BCAP LLC (United Kingdom) 0.00%, 9/19/2027 ‡
|
12,294,193
|
12,294,192
|
|
BCAP LLC Trust 0.00%, 9/17/2027 ‡
|
6,147,096
|
6,147,096
|
|
BG Beta I Ltd. (Cayman Islands) 0.00%, 7/16/2054 ‡ (f)
|
7,354,995
|
7,354,995
|
|
Block, Inc.
|
||
|
5.63%, 8/15/2030 (a)
|
343,000
|
344,411
|
|
6.50%, 5/15/2032
|
5,209,000
|
5,307,888
|
|
6.00%, 8/15/2033 (a)
|
299,000
|
299,075
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Financial Services — continued
|
||
|
CFIN 2022-RTL1 Issuer LLC
|
||
|
Class A, 0.00%, 8/17/2027 ‡
|
7,495,291
|
7,485,922
|
|
Class B-1, 0.00%, 8/17/2027 ‡
|
15,884,661
|
15,864,805
|
|
Commercial Credit, Inc. Series QIB, 8.75%, 8/30/2030 (a)
|
7,000,000
|
7,043,040
|
|
Equify Financial LLC Series QIB, 9.13%, 12/15/2030 (a)
|
26,000,000
|
25,946,700
|
|
Fiserv, Inc.
|
||
|
3.20%, 7/1/2026
|
170,000
|
169,878
|
|
5.35%, 3/15/2031
|
300,000
|
303,641
|
|
Gemini 10.50%, 2/20/2029 ‡
|
9,000,000
|
9,000,000
|
|
Global Payments, Inc.
|
||
|
3.20%, 8/15/2029
|
72,000
|
68,128
|
|
4.88%, 11/15/2030
|
17,985,000
|
17,700,133
|
|
5.55%, 11/15/2035
|
1,945,000
|
1,897,484
|
|
Goodleap LLC Class B, 0.00%, 7/15/2042 ‡
|
12,996,327
|
13,613,653
|
|
Nationwide Building Society (United Kingdom) 5.13%, 7/29/2029 (a)
|
771,000
|
783,035
|
|
NCR Atleos Corp. 9.50%, 4/1/2029 (a)
|
1,907,000
|
2,038,835
|
|
NGF Holdings LLC 9.63%, 12/23/2029
|
18,000,000
|
18,096,300
|
|
NTT Finance Corp. (Japan) 5.14%, 7/2/2031 (a)
|
1,000,000
|
1,012,296
|
|
Rocket Cos., Inc.
|
||
|
6.13%, 8/1/2030 (a)
|
2,034,000
|
2,065,156
|
|
6.38%, 8/1/2033 (a)
|
3,241,000
|
3,291,239
|
|
Rocket Mortgage LLC
|
||
|
2.88%, 10/15/2026 (a)
|
1,440,000
|
1,428,373
|
|
3.63%, 3/1/2029 (a)
|
1,505,000
|
1,447,128
|
|
Shell International Finance BV
|
||
|
2.88%, 11/26/2041
|
620,000
|
453,388
|
|
3.63%, 8/21/2042
|
200,000
|
159,128
|
|
Shift4 Payments LLC 6.75%, 8/15/2032 (a)
|
5,351,000
|
5,346,171
|
|
Siemens Financieringsmaatschappij NV (Germany) 3.30%, 9/15/2046 (a)
|
350,000
|
254,564
|
|
STReAM 2008 BV (Netherlands) 0.00%, 2/15/2030 ‡
|
4,235,346
|
4,341,230
|
|
Street Capital Group, Inc. (Canada) 0.00%, 2/15/2030 ‡
|
5,172,543
|
5,172,543
|
|
|
|
176,730,427
|
|
Food Products — 0.8%
|
||
|
Bunge Ltd. Finance Corp.
|
||
|
3.20%, 4/21/2031
|
5,805,000
|
5,423,321
|
|
2.75%, 5/14/2031
|
385,000
|
351,887
|
|
Darling Ingredients, Inc.
|
||
|
5.25%, 4/15/2027 (a)
|
80,000
|
80,013
|
|
6.00%, 6/15/2030 (a)
|
1,645,000
|
1,660,963
|
|
Grupo Nutresa SA (Colombia) 9.00%, 5/12/2035 (a)
|
1,250,000
|
1,371,000
|
|
JBS NV
|
||
|
3.75%, 12/1/2031
|
305,000
|
284,177
|
|
3.63%, 1/15/2032
|
8,045,000
|
7,427,778
|
|
3.00%, 5/15/2032
|
910,000
|
809,218
|
|
5.95%, 4/20/2035
|
2,619,000
|
2,700,040
|
|
5.50%, 1/15/2036
|
10,330,000
|
10,306,555
|
|
5.63%, 3/10/2037 (a)
|
8,475,000
|
8,449,575
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Food Products — continued
|
||
|
6.50%, 12/1/2052
|
2,360,000
|
2,385,436
|
|
6.38%, 4/15/2066
|
520,000
|
508,206
|
|
Lamb Weston Holdings, Inc.
|
||
|
4.13%, 1/31/2030 (a)
|
1,600,000
|
1,528,468
|
|
4.38%, 1/31/2032 (a)
|
315,000
|
294,730
|
|
Mars, Inc.
|
||
|
4.80%, 3/1/2030 (a)
|
18,370,000
|
18,501,614
|
|
5.00%, 3/1/2032 (a)
|
18,010,000
|
18,198,766
|
|
5.20%, 3/1/2035 (a)
|
9,510,000
|
9,574,023
|
|
5.65%, 5/1/2045 (a)
|
1,030,000
|
1,021,322
|
|
Post Holdings, Inc. 6.25%, 2/15/2032 (a)
|
2,938,000
|
2,984,682
|
|
|
|
93,861,774
|
|
Gas Utilities — 0.0% ^
|
||
|
AmeriGas Partners LP 6.88%, 6/1/2031 (a)
|
618,000
|
631,714
|
|
Atmos Energy Corp.
|
||
|
5.50%, 6/15/2041
|
52,000
|
52,107
|
|
5.75%, 10/15/2052
|
185,000
|
185,331
|
|
5.00%, 12/15/2054
|
1,048,000
|
941,814
|
|
Boston Gas Co. 3.00%, 8/1/2029 (a)
|
37,000
|
35,072
|
|
Piedmont Natural Gas Co., Inc.
|
||
|
3.35%, 6/1/2050
|
768,000
|
523,740
|
|
5.05%, 5/15/2052
|
100,000
|
89,460
|
|
Southern California Gas Co. Series XX, 2.55%, 2/1/2030
|
393,000
|
368,095
|
|
Superior Plus LP (Canada) 4.50%, 3/15/2029 (a)
|
925,000
|
896,132
|
|
|
|
3,723,465
|
|
Ground Transportation — 0.3%
|
||
|
Avis Budget Car Rental LLC
|
||
|
5.75%, 7/15/2027 (a)
|
1,323,000
|
1,323,344
|
|
4.75%, 4/1/2028 (a)
|
155,000
|
152,734
|
|
5.38%, 3/1/2029 (a)
|
1,325,000
|
1,298,513
|
|
8.00%, 2/15/2031 (a)
|
1,210,000
|
1,218,470
|
|
Burlington Northern Santa Fe LLC
|
||
|
6.15%, 5/1/2037
|
250,000
|
273,863
|
|
3.55%, 2/15/2050
|
708,000
|
513,820
|
|
5.20%, 4/15/2054
|
2,850,000
|
2,650,189
|
|
5.50%, 3/15/2055
|
6,280,000
|
6,106,469
|
|
Canadian Pacific Railway Co. (Canada)
|
||
|
2.88%, 11/15/2029
|
1,125,000
|
1,068,360
|
|
3.10%, 12/2/2051
|
601,000
|
392,600
|
|
Genesee & Wyoming, Inc. 6.25%, 4/15/2032 (a)
|
500,000
|
507,533
|
|
Hertz Corp. (The) 4.63%, 12/1/2026 (a)
|
360,000
|
340,059
|
|
Penske Truck Leasing Co. LP 5.25%, 7/1/2029 (a)
|
1,200,000
|
1,217,721
|
|
SMBC Aviation Capital Finance DAC (Ireland) 5.30%, 4/3/2029 (a)
|
980,000
|
994,075
|
|
Uber Technologies, Inc.
|
||
|
4.80%, 9/15/2034
|
6,785,000
|
6,639,857
|
|
4.80%, 9/15/2035
|
3,750,000
|
3,651,415
|
|
5.35%, 9/15/2054
|
3,270,000
|
3,044,212
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Ground Transportation — continued
|
||
|
XPO, Inc.
|
||
|
6.25%, 6/1/2028 (a)
|
330,000
|
334,129
|
|
7.13%, 6/1/2031 (a)
|
4,350,000
|
4,489,326
|
|
|
|
36,216,689
|
|
Health Care Equipment & Supplies — 0.3%
|
||
|
Abbott Laboratories 4.65%, 3/15/2036
|
10,843,000
|
10,538,428
|
|
Avantor Funding, Inc. 4.63%, 7/15/2028 (a)
|
3,076,000
|
3,040,945
|
|
Bausch + Lomb Corp. 8.38%, 10/1/2028 (a)
|
1,286,000
|
1,327,795
|
|
Medline Borrower LP
|
||
|
3.88%, 4/1/2029 (a)
|
6,610,000
|
6,432,865
|
|
6.25%, 4/1/2029 (a)
|
680,000
|
697,911
|
|
5.25%, 10/1/2029 (a)
|
2,195,000
|
2,191,238
|
|
Solventum Corp. 5.60%, 3/23/2034
|
12,860,000
|
13,190,564
|
|
|
|
37,419,746
|
|
Health Care Providers & Services — 0.9%
|
||
|
Accendra Health, Inc. 4.50%, 3/31/2029 (a)
|
1,300,000
|
1,024,620
|
|
Adapthealth LLC 4.63%, 8/1/2029 (a)
|
170,000
|
164,070
|
|
Aetna, Inc. 4.75%, 3/15/2044
|
200,000
|
170,947
|
|
Cencora, Inc.
|
||
|
4.60%, 2/13/2033
|
10,490,000
|
10,295,593
|
|
5.13%, 2/15/2034
|
770,000
|
773,928
|
|
4.90%, 2/13/2036
|
4,815,000
|
4,699,461
|
|
Cigna Group (The)
|
||
|
2.38%, 3/15/2031
|
135,000
|
121,647
|
|
5.13%, 5/15/2031
|
470,000
|
478,988
|
|
DaVita, Inc. 4.63%, 6/1/2030 (a)
|
2,115,000
|
2,055,111
|
|
Encompass Health Corp.
|
||
|
4.50%, 2/1/2028
|
265,000
|
263,843
|
|
4.75%, 2/1/2030
|
2,215,000
|
2,179,257
|
|
4.63%, 4/1/2031
|
360,000
|
348,411
|
|
HCA, Inc.
|
||
|
4.50%, 2/15/2027
|
580,000
|
579,768
|
|
5.63%, 9/1/2028
|
3,750,000
|
3,819,694
|
|
3.50%, 9/1/2030
|
4,512,000
|
4,287,275
|
|
4.30%, 11/15/2030
|
2,908,000
|
2,850,286
|
|
2.38%, 7/15/2031
|
8,130,000
|
7,213,487
|
|
4.60%, 11/15/2032
|
3,966,000
|
3,872,147
|
|
5.00%, 5/15/2033
|
10,000,000
|
9,899,194
|
|
5.60%, 4/1/2034
|
4,410,000
|
4,515,012
|
|
4.90%, 11/15/2035
|
3,117,000
|
3,016,869
|
|
5.25%, 6/15/2049
|
1,685,000
|
1,504,043
|
|
3.50%, 7/15/2051
|
30,000
|
20,084
|
|
5.90%, 6/1/2053
|
885,000
|
852,627
|
|
6.00%, 4/1/2054
|
4,590,000
|
4,487,099
|
|
5.95%, 9/15/2054
|
4,441,000
|
4,317,039
|
|
Quest Diagnostics, Inc.
|
||
|
4.63%, 12/15/2029
|
800,000
|
802,788
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Health Care Providers & Services — continued
|
||
|
2.95%, 6/30/2030
|
55,000
|
51,548
|
|
6.40%, 11/30/2033
|
580,000
|
629,490
|
|
5.00%, 12/15/2034
|
3,055,000
|
3,043,498
|
|
Tenet Healthcare Corp.
|
||
|
4.63%, 6/15/2028
|
1,670,000
|
1,658,978
|
|
4.25%, 6/1/2029
|
5,793,000
|
5,647,523
|
|
4.38%, 1/15/2030
|
1,770,000
|
1,712,761
|
|
6.13%, 6/15/2030
|
4,465,000
|
4,507,083
|
|
6.75%, 5/15/2031
|
2,515,000
|
2,589,756
|
|
Triad Holdings III LLC 0.00%, 4/1/2052 ‡
|
11,546,762
|
11,662,230
|
|
UnitedHealth Group, Inc.
|
||
|
5.70%, 10/15/2040
|
800,000
|
816,941
|
|
4.63%, 11/15/2041
|
232,000
|
209,163
|
|
3.25%, 5/15/2051
|
485,000
|
325,998
|
|
5.88%, 2/15/2053
|
395,000
|
396,512
|
|
5.38%, 4/15/2054
|
2,351,000
|
2,199,691
|
|
|
|
110,064,460
|
|
Health Care REITs — 0.0% ^
|
||
|
Alexandria Real Estate Equities, Inc.
|
||
|
3.38%, 8/15/2031
|
450,000
|
415,503
|
|
1.88%, 2/1/2033
|
317,000
|
257,708
|
|
Healthpeak OP LLC
|
||
|
2.13%, 12/1/2028
|
64,000
|
60,427
|
|
3.00%, 1/15/2030
|
87,000
|
82,076
|
|
Sabra Health Care LP 3.20%, 12/1/2031
|
120,000
|
108,991
|
|
Ventas Realty LP
|
||
|
5.63%, 7/1/2034
|
585,000
|
603,186
|
|
5.00%, 1/15/2035
|
1,000,000
|
984,417
|
|
|
|
2,512,308
|
|
Health Care Technology — 0.1%
|
||
|
IQVIA, Inc.
|
||
|
5.00%, 10/15/2026 (a)
|
400,000
|
399,800
|
|
5.00%, 5/15/2027 (a)
|
200,000
|
199,904
|
|
6.25%, 6/1/2032 (a)
|
8,206,000
|
8,383,250
|
|
|
|
8,982,954
|
|
Hotel & Resort REITs — 0.1%
|
||
|
RHP Hotel Properties LP
|
||
|
7.25%, 7/15/2028 (a)
|
1,975,000
|
2,018,294
|
|
6.50%, 4/1/2032 (a)
|
4,525,000
|
4,639,750
|
|
6.50%, 6/15/2033 (a)
|
2,130,000
|
2,190,958
|
|
5.75%, 3/15/2034 (a)
|
348,000
|
345,243
|
|
|
|
9,194,245
|
|
Hotels, Restaurants & Leisure — 0.7%
|
||
|
Acushnet Co. 5.63%, 12/1/2033 (a)
|
685,000
|
679,644
|
|
Boyne USA, Inc. 4.75%, 5/15/2029 (a)
|
1,877,000
|
1,848,867
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Hotels, Restaurants & Leisure — continued
|
||
|
Caesars Entertainment, Inc.
|
||
|
7.00%, 2/15/2030 (a)
|
3,080,000
|
3,116,510
|
|
6.50%, 2/15/2032 (a)
|
6,033,000
|
5,881,982
|
|
Carnival Corp. Ltd.
|
||
|
5.75%, 8/1/2032 (a)
|
2,876,000
|
2,905,283
|
|
6.13%, 2/15/2033 (a)
|
6,965,000
|
7,054,068
|
|
Churchill Downs, Inc. 6.75%, 5/1/2031 (a)
|
1,695,000
|
1,730,464
|
|
Hilton Domestic Operating Co., Inc.
|
||
|
3.75%, 5/1/2029 (a)
|
610,000
|
589,029
|
|
4.88%, 1/15/2030
|
2,190,000
|
2,166,187
|
|
5.50%, 9/15/2031 (a)
|
567,000
|
570,285
|
|
5.88%, 3/15/2033 (a)
|
3,924,000
|
3,968,467
|
|
5.75%, 9/15/2033 (a)
|
3,607,000
|
3,638,944
|
|
5.50%, 3/31/2034 (a)
|
1,654,000
|
1,646,456
|
|
Hilton Worldwide Finance LLC 4.88%, 4/1/2027
|
1,005,000
|
1,004,644
|
|
McDonald's Corp. 5.15%, 9/9/2052
|
1,247,000
|
1,142,132
|
|
MGM Resorts International
|
||
|
4.75%, 10/15/2028
|
1,235,000
|
1,223,853
|
|
6.13%, 9/15/2029
|
2,755,000
|
2,795,799
|
|
6.50%, 4/15/2032
|
1,410,000
|
1,436,865
|
|
NCL Corp. Ltd. 5.88%, 1/15/2031 (a)
|
670,000
|
647,480
|
|
Rivers Enterprise Borrower LLC 6.25%, 10/15/2030 (a)
|
725,000
|
730,726
|
|
Royal Caribbean Cruises Ltd.
|
||
|
5.63%, 9/30/2031 (a)
|
2,655,000
|
2,678,297
|
|
6.25%, 3/15/2032 (a)
|
1,205,000
|
1,230,805
|
|
6.00%, 2/1/2033 (a)
|
3,149,000
|
3,192,383
|
|
Six Flags Entertainment Corp.
|
||
|
6.50%, 10/1/2028
|
933,000
|
936,139
|
|
5.25%, 7/15/2029
|
1,975,000
|
1,913,246
|
|
7.25%, 5/15/2031 (a)
|
1,940,000
|
1,934,211
|
|
6.63%, 5/1/2032 (a)
|
2,441,000
|
2,494,385
|
|
Starbucks Corp. 3.35%, 3/12/2050
|
5,000
|
3,420
|
|
Station Casinos LLC 4.50%, 2/15/2028 (a)
|
2,540,000
|
2,503,632
|
|
Vail Resorts, Inc. 6.50%, 5/15/2032 (a)
|
3,948,000
|
4,022,132
|
|
Viking Cruises Ltd. 5.88%, 10/15/2033 (a)
|
5,980,000
|
5,991,972
|
|
Wynn Las Vegas LLC 5.25%, 5/15/2027 (a)
|
125,000
|
125,099
|
|
Wynn Resorts Finance LLC
|
||
|
5.13%, 10/1/2029 (a)
|
4,270,000
|
4,238,097
|
|
7.13%, 2/15/2031 (a)
|
2,135,000
|
2,255,160
|
|
6.25%, 3/15/2033 (a)
|
3,217,000
|
3,228,411
|
|
|
|
81,525,074
|
|
Household Durables — 0.1%
|
||
|
Installed Building Products, Inc. 5.63%, 2/1/2034 (a)
|
268,000
|
263,107
|
|
Newell Brands, Inc.
|
||
|
8.50%, 6/1/2028 (a)
|
795,000
|
830,097
|
|
6.63%, 9/15/2029
|
2,235,000
|
2,236,015
|
|
6.38%, 5/15/2030
|
447,000
|
441,038
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Household Durables — continued
|
||
|
6.63%, 5/15/2032
|
3,260,000
|
3,171,470
|
|
7.37%, 4/1/2036 (g)
|
310,000
|
298,013
|
|
Somnigroup International, Inc. 4.00%, 4/15/2029 (a)
|
3,905,000
|
3,753,482
|
|
TopBuild Corp. 5.63%, 1/31/2034 (a)
|
1,787,000
|
1,804,337
|
|
|
|
12,797,559
|
|
Household Products — 0.0% ^
|
||
|
Central Garden & Pet Co.
|
||
|
5.13%, 2/1/2028
|
145,000
|
144,672
|
|
4.13%, 10/15/2030
|
2,255,000
|
2,133,211
|
|
4.13%, 4/30/2031 (a)
|
210,000
|
197,009
|
|
Energizer Holdings, Inc. 4.75%, 6/15/2028 (a)
|
1,820,000
|
1,798,318
|
|
|
|
4,273,210
|
|
Independent Power and Renewable Electricity Producers — 0.2%
|
||
|
Constellation Energy Generation LLC
|
||
|
4.63%, 2/1/2029 (a)
|
4,280,000
|
4,258,295
|
|
5.00%, 2/1/2031 (a)
|
343,000
|
343,639
|
|
4.80%, 1/15/2032
|
10,000,000
|
9,952,886
|
|
6.25%, 10/1/2039
|
585,000
|
617,800
|
|
5.75%, 10/1/2041
|
1,120,000
|
1,125,614
|
|
5.60%, 6/15/2042
|
3,439,000
|
3,401,412
|
|
FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple (Mexico) 7.25%, 1/31/2041 (a)
|
1,496,657
|
1,520,304
|
|
Saavi Energia SARL (Mexico) 8.88%, 2/10/2035 (a)
|
1,883,000
|
2,040,005
|
|
Talen Energy Supply LLC
|
||
|
6.13%, 5/1/2031 (a)
|
1,388,000
|
1,387,544
|
|
6.38%, 5/1/2033 (a)
|
2,087,000
|
2,078,865
|
|
6.25%, 2/1/2034 (a)
|
515,000
|
513,106
|
|
|
|
27,239,470
|
|
Industrial REITs — 0.0% ^
|
||
|
Prologis LP
|
||
|
1.75%, 7/1/2030
|
149,000
|
133,473
|
|
4.75%, 6/15/2033
|
640,000
|
634,841
|
|
5.25%, 3/15/2054
|
596,000
|
563,129
|
|
|
|
1,331,443
|
|
Insurance — 0.2%
|
||
|
Allianz SE (Germany) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year
+ 2.77%), 5.60%, 9/3/2054 (a) (c)
|
1,800,000
|
1,783,630
|
|
Aon Corp. 5.35%, 2/28/2033
|
165,000
|
168,629
|
|
Aon North America, Inc. 5.75%, 3/1/2054
|
350,000
|
342,476
|
|
Asurion LLC 8.00%, 12/31/2032 (a)
|
1,597,000
|
1,665,332
|
|
Berkshire Hathaway Finance Corp.
|
||
|
2.50%, 1/15/2051
|
200,000
|
118,467
|
|
3.85%, 3/15/2052
|
715,000
|
544,493
|
|
CNO Global Funding
|
||
|
5.88%, 6/4/2027 (a)
|
1,000,000
|
1,013,105
|
|
4.95%, 9/9/2029 (a)
|
850,000
|
852,318
|
|
Corebridge Global Funding 4.90%, 8/21/2032 (a)
|
1,473,000
|
1,459,265
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Insurance — continued
|
||
|
Guardian Life Global Funding
|
||
|
5.74%, 10/2/2028 (a)
|
500,000
|
514,310
|
|
4.18%, 9/26/2029 (a)
|
490,000
|
485,041
|
|
HUB International Ltd. 7.25%, 6/15/2030 (a)
|
760,000
|
780,101
|
|
MetLife, Inc.
|
||
|
5.00%, 7/15/2052
|
350,000
|
316,544
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.82%), 5.85%, 3/15/2056 (c)
|
1,395,000
|
1,379,301
|
|
Metropolitan Life Global Funding I
|
||
|
2.40%, 1/11/2032 (a)
|
5,200,000
|
4,589,487
|
|
5.15%, 3/28/2033 (a)
|
880,000
|
890,683
|
|
New York Life Global Funding 3.00%, 1/10/2028 (a)
|
51,000
|
49,932
|
|
New York Life Insurance Co.
|
||
|
5.88%, 5/15/2033 (a)
|
2,919,000
|
3,048,799
|
|
4.45%, 5/15/2069 (a)
|
50,000
|
38,587
|
|
Northwestern Mutual Global Funding 5.16%, 5/28/2031 (a)
|
630,000
|
644,989
|
|
Northwestern Mutual Life Insurance Co. (The) 6.05%, 6/30/2056 (a)
|
4,202,000
|
4,291,978
|
|
Pine Street Trust III 6.22%, 5/15/2054 (a)
|
450,000
|
454,451
|
|
Pricoa Global Funding I 5.55%, 8/28/2026 (a)
|
175,000
|
175,555
|
|
Principal Financial Group, Inc. 4.11%, 2/15/2028 (a)
|
641,000
|
635,714
|
|
Principal Life Global Funding II 5.10%, 1/25/2029 (a)
|
400,000
|
404,862
|
|
Protective Life Global Funding 5.47%, 12/8/2028 (a)
|
543,000
|
553,852
|
|
Teachers Insurance & Annuity Association of America 4.27%, 5/15/2047 (a)
|
800,000
|
645,109
|
|
|
|
27,847,010
|
|
Interactive Media & Services — 0.4%
|
||
|
Alphabet, Inc. 4.80%, 2/15/2036
|
6,514,000
|
6,441,082
|
|
Meta Platforms, Inc.
|
||
|
4.88%, 11/15/2035
|
7,280,000
|
7,113,010
|
|
5.25%, 5/15/2036
|
580,000
|
579,510
|
|
5.50%, 11/15/2045
|
12,420,000
|
11,658,345
|
|
5.60%, 5/15/2053
|
2,355,000
|
2,180,839
|
|
5.40%, 8/15/2054
|
5,837,000
|
5,225,397
|
|
5.63%, 11/15/2055
|
8,754,000
|
8,071,981
|
|
6.30%, 5/15/2056
|
9,655,000
|
9,741,999
|
|
Snap, Inc. 6.88%, 3/1/2033 (a)
|
1,303,000
|
1,291,542
|
|
|
|
52,303,705
|
|
IT Services — 0.1%
|
||
|
Beignet Investor LLC 6.58%, 5/30/2049 (a)
|
13,686,000
|
14,109,187
|
|
CGI, Inc. (Canada) 1.45%, 9/14/2026
|
170,000
|
168,556
|
|
|
|
14,277,743
|
|
Life Sciences Tools & Services — 0.0% ^
|
||
|
Charles River Laboratories International, Inc. 4.00%, 3/15/2031 (a)
|
2,165,000
|
2,027,466
|
|
Machinery — 0.1%
|
||
|
Chart Industries, Inc. 7.50%, 1/1/2030 (a)
|
2,465,000
|
2,551,911
|
|
Esab Corp.
|
||
|
6.25%, 4/15/2029 (a)
|
787,000
|
801,212
|
|
5.63%, 4/1/2031 (a)
|
624,000
|
627,091
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Machinery — continued
|
||
|
Terex Corp.
|
||
|
5.00%, 5/15/2029 (a)
|
505,000
|
500,601
|
|
6.25%, 10/15/2032 (a)
|
2,721,000
|
2,762,686
|
|
Trinity Industries, Inc. 7.75%, 7/15/2028 (a)
|
765,000
|
784,178
|
|
Wabash National Corp. 4.50%, 10/15/2028 (a)
|
750,000
|
637,837
|
|
|
|
8,665,516
|
|
Marine Transportation — 0.0% ^
|
||
|
MV24 Capital BV (Brazil) 6.75%, 6/1/2034 (a)
|
1,110,448
|
1,118,443
|
|
Yinson Bergenia Production BV (Brazil) 8.50%, 1/31/2045 (a)
|
2,063,190
|
2,207,613
|
|
|
|
3,326,056
|
|
Media — 0.8%
|
||
|
Charter Communications Operating LLC
|
||
|
2.25%, 1/15/2029
|
2,315,000
|
2,162,084
|
|
6.65%, 2/1/2034
|
3,670,000
|
3,789,268
|
|
6.55%, 6/1/2034
|
9,565,000
|
9,813,712
|
|
5.85%, 12/1/2035
|
12,580,000
|
12,247,565
|
|
3.50%, 6/1/2041
|
44,000
|
30,725
|
|
3.50%, 3/1/2042
|
985,000
|
678,605
|
|
6.48%, 10/23/2045
|
2,203,000
|
2,036,334
|
|
5.13%, 7/1/2049
|
19,000
|
14,618
|
|
Clear Channel Outdoor Holdings, Inc.
|
||
|
7.13%, 2/15/2031 (a)
|
3,325,000
|
3,437,013
|
|
7.50%, 3/15/2033 (a)
|
1,970,000
|
2,066,973
|
|
CSC Holdings LLC
|
||
|
6.50%, 2/1/2029 (a)
|
1,570,000
|
922,576
|
|
4.50%, 11/15/2031 (a)
|
200,000
|
113,500
|
|
DISH DBS Corp.
|
||
|
5.25%, 12/1/2026 (a)
|
190,000
|
189,288
|
|
5.75%, 12/1/2028 (a)
|
1,610,000
|
1,579,965
|
|
DISH Network Corp. 11.75%, 11/15/2027 (a)
|
2,615,000
|
2,694,444
|
|
EchoStar Corp. 10.75%, 11/30/2029
|
2,270,000
|
2,466,900
|
|
Gray Media, Inc.
|
||
|
10.50%, 7/15/2029 (a)
|
1,400,000
|
1,482,076
|
|
4.75%, 10/15/2030 (a)
|
170,000
|
128,784
|
|
5.38%, 11/15/2031 (a)
|
170,000
|
121,989
|
|
7.25%, 8/15/2033 (a)
|
2,815,000
|
2,790,304
|
|
iHeartCommunications, Inc.
|
||
|
9.13%, 5/1/2029 (a)
|
2,310,000
|
2,239,091
|
|
10.88%, 5/1/2030 (a)
|
20,000
|
16,996
|
|
7.75%, 8/15/2030 (a)
|
306,400
|
281,358
|
|
Lamar Media Corp.
|
||
|
3.75%, 2/15/2028
|
355,000
|
348,137
|
|
4.88%, 1/15/2029
|
730,000
|
724,240
|
|
4.00%, 2/15/2030
|
2,135,000
|
2,050,129
|
|
5.38%, 11/1/2033 (a)
|
1,720,000
|
1,694,125
|
|
Nexstar Media, Inc.
|
||
|
4.75%, 11/1/2028 (a)
|
1,050,000
|
1,033,604
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Media — continued
|
||
|
6.50%, 9/15/2033 (a)
|
5,450,000
|
5,493,426
|
|
7.25%, 4/15/2034 (a)
|
3,698,000
|
3,721,271
|
|
Outfront Media Capital LLC 7.38%, 2/15/2031 (a)
|
3,025,000
|
3,154,833
|
|
Scripps Escrow II, Inc. 3.88%, 1/15/2029 (a)
|
325,000
|
301,150
|
|
Sinclair Television Group, Inc.
|
||
|
4.38%, 12/31/2032 (a)
|
119,000
|
95,349
|
|
8.13%, 2/15/2033 (a)
|
1,505,000
|
1,546,387
|
|
Sirius XM Radio LLC
|
||
|
4.00%, 7/15/2028 (a)
|
8,875,000
|
8,645,605
|
|
5.50%, 7/1/2029 (a)
|
6,365,000
|
6,340,103
|
|
4.13%, 7/1/2030 (a)
|
1,597,000
|
1,505,481
|
|
5.88%, 4/15/2032 (a)
|
1,705,000
|
1,697,167
|
|
Stagwell Global LLC 5.63%, 8/15/2029 (a)
|
3,140,000
|
3,056,142
|
|
Time Warner Cable LLC 5.50%, 9/1/2041
|
7,140,000
|
6,160,730
|
|
Univision Communications, Inc. 7.38%, 6/30/2030 (a)
|
620,000
|
617,370
|
|
|
|
99,489,417
|
|
Metals & Mining — 0.5%
|
||
|
Alumina Pty. Ltd.
|
||
|
6.13%, 3/15/2030 (a)
|
465,000
|
475,317
|
|
6.38%, 9/15/2032 (a)
|
962,000
|
987,040
|
|
Anglo American Capital plc (South Africa)
|
||
|
2.63%, 9/10/2030 (a)
|
4,811,000
|
4,415,488
|
|
5.75%, 4/5/2034 (a)
|
6,042,000
|
6,240,238
|
|
5.25%, 3/19/2036 (a)
|
11,106,000
|
11,010,599
|
|
BHP Billiton Finance USA Ltd. (Australia) 4.90%, 2/28/2033
|
100,000
|
100,547
|
|
Big River Steel LLC 6.63%, 1/31/2029 (a)
|
635,000
|
634,840
|
|
Cleveland-Cliffs, Inc.
|
||
|
4.63%, 3/1/2029 (a)
|
310,000
|
300,426
|
|
6.75%, 4/15/2030 (a)
|
3,770,000
|
3,788,718
|
|
7.50%, 9/15/2031 (a)
|
470,000
|
485,229
|
|
7.63%, 1/15/2034 (a)
|
645,000
|
663,795
|
|
Commercial Metals Co. 5.75%, 11/15/2033 (a)
|
2,340,000
|
2,341,762
|
|
Freeport-McMoRan, Inc. 4.63%, 8/1/2030
|
231,000
|
230,224
|
|
Glencore Funding LLC (Australia)
|
||
|
3.88%, 10/27/2027 (a)
|
40,000
|
39,682
|
|
6.13%, 10/6/2028 (a)
|
2,000,000
|
2,064,935
|
|
5.19%, 4/1/2030 (a)
|
360,000
|
365,083
|
|
2.50%, 9/1/2030 (a)
|
37,000
|
33,725
|
|
2.85%, 4/27/2031 (a)
|
435,000
|
396,843
|
|
5.70%, 5/8/2033 (a)
|
4,000,000
|
4,145,231
|
|
5.63%, 4/4/2034 (a)
|
14,770,000
|
15,216,738
|
|
5.51%, 4/1/2036 (a)
|
7,985,000
|
8,066,410
|
|
Newmont Corp. 5.75%, 11/15/2041
|
300,000
|
299,739
|
|
Novelis Corp. 6.38%, 8/15/2033 (a)
|
524,000
|
529,108
|
|
United States Steel Corp. 6.88%, 3/1/2029
|
147,000
|
147,576
|
|
|
|
62,979,293
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Mortgage Real Estate Investment Trusts (REITs) — 0.4%
|
||
|
Arbor Realty SR, Inc.
|
||
|
Series QIB, 9.00%, 10/15/2027 (a)
|
10,000,000
|
9,901,043
|
|
Series QIB, 5.00%, 12/30/2028 (a)
|
1,925,000
|
1,763,968
|
|
Arbor Realty Trust, Inc. Series QIB, 4.50%, 3/15/2027 (a)
|
1,489,000
|
1,436,391
|
|
Great Ajax Operating Partnership LP Series QIB, 9.88%, 9/1/2027 (a) (g)
|
1,000,000
|
1,005,426
|
|
ReadyCap Holdings LLC
|
||
|
Series QIB, 4.50%, 10/20/2026 (a)
|
11,500,000
|
11,228,394
|
|
Series QIB, 9.38%, 3/1/2028 (a)
|
12,000,000
|
11,877,853
|
|
Resurgent 0.00%, 7/1/2030 ‡
|
5,000,000
|
5,000,000
|
|
Starwood Property Trust, Inc. 7.25%, 4/1/2029 (a)
|
3,215,000
|
3,334,087
|
|
|
|
45,547,162
|
|
Multi-Utilities — 0.5%
|
||
|
Ameren Corp.
|
||
|
1.95%, 3/15/2027
|
20,000
|
19,653
|
|
3.50%, 1/15/2031
|
1,541,000
|
1,461,859
|
|
Ameren Illinois Co.
|
||
|
4.95%, 6/1/2033
|
750,000
|
754,306
|
|
5.55%, 7/1/2054
|
650,000
|
631,131
|
|
Berkshire Hathaway Energy Co. 5.15%, 11/15/2043
|
194,000
|
184,294
|
|
Consolidated Edison Co. of New York, Inc.
|
||
|
Series E, 4.65%, 12/1/2048
|
225,000
|
192,987
|
|
Series A, 4.13%, 5/15/2049
|
491,000
|
389,192
|
|
Consumers Energy Co.
|
||
|
4.63%, 5/15/2033
|
365,000
|
361,055
|
|
3.95%, 5/15/2043
|
1,610,000
|
1,310,438
|
|
Dominion Energy, Inc.
|
||
|
Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%),
7.00%, 6/1/2054 (c)
|
410,000
|
436,491
|
|
Series A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%),
6.88%, 2/1/2055 (c)
|
630,000
|
653,260
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.21%), 6.63%, 5/15/2055 (c)
|
5,450,000
|
5,581,678
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.26%), 6.00%, 2/15/2056 (c)
|
10,021,000
|
10,075,208
|
|
DTE Energy Co.
|
||
|
4.95%, 7/1/2027
|
450,000
|
453,036
|
|
4.88%, 6/1/2028
|
500,000
|
503,932
|
|
5.10%, 3/1/2029
|
7,790,000
|
7,903,608
|
|
Engie SA (France) 5.25%, 4/10/2029 (a)
|
715,000
|
727,573
|
|
NiSource, Inc.
|
||
|
5.25%, 3/30/2028
|
275,000
|
278,791
|
|
5.20%, 7/1/2029
|
650,000
|
661,460
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.45%), 6.95%, 11/30/2054 (c)
|
1,725,000
|
1,791,469
|
|
PG&E Energy Recovery Funding LLC Series A-3, 2.82%, 7/15/2046
|
70,000
|
51,402
|
|
Puget Sound Energy, Inc.
|
||
|
5.76%, 7/15/2040
|
140,000
|
139,693
|
|
5.45%, 6/1/2053
|
30,000
|
28,647
|
|
5.69%, 6/15/2054
|
3,377,000
|
3,326,525
|
|
San Diego Gas & Electric Co.
|
||
|
4.95%, 8/15/2028
|
350,000
|
353,871
|
|
Series DDDD, 5.20%, 3/15/2036
|
3,720,000
|
3,724,813
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Multi-Utilities — continued
|
||
|
2.95%, 8/15/2051
|
170,000
|
107,817
|
|
5.35%, 4/1/2053
|
4,070,000
|
3,804,139
|
|
Sempra (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.38%,
4/1/2056 (c)
|
2,356,000
|
2,383,169
|
|
Southern Co. Gas Capital Corp.
|
||
|
5.75%, 9/15/2033
|
13,145,000
|
13,691,424
|
|
Series 21A, 3.15%, 9/30/2051
|
710,000
|
465,949
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.82%), 6.05%, 9/15/2056 (c)
|
3,114,000
|
3,128,452
|
|
WEC Energy Group, Inc. 5.60%, 9/12/2026
|
113,000
|
113,314
|
|
|
|
65,690,636
|
|
Oil, Gas & Consumable Fuels — 3.4%
|
||
|
Aker BP ASA (Norway) 5.80%, 10/1/2054 (a)
|
475,000
|
446,863
|
|
Antero Midstream Partners LP
|
||
|
5.75%, 1/15/2028 (a)
|
890,000
|
890,258
|
|
5.38%, 6/15/2029 (a)
|
4,220,000
|
4,217,110
|
|
5.75%, 10/15/2033 (a)
|
1,720,000
|
1,701,930
|
|
Ascent Resources Utica Holdings LLC
|
||
|
6.63%, 10/15/2032 (a)
|
865,000
|
887,711
|
|
6.63%, 7/15/2033 (a)
|
1,612,000
|
1,651,828
|
|
Blue Racer Midstream LLC
|
||
|
7.00%, 7/15/2029 (a)
|
441,000
|
453,522
|
|
7.25%, 7/15/2032 (a)
|
1,575,000
|
1,637,279
|
|
BP Capital Markets America, Inc.
|
||
|
4.81%, 2/13/2033
|
3,760,000
|
3,757,085
|
|
4.89%, 9/11/2033
|
710,000
|
710,294
|
|
5.23%, 11/17/2034
|
7,680,000
|
7,819,189
|
|
3.06%, 6/17/2041
|
630,000
|
477,268
|
|
3.00%, 2/24/2050
|
174,000
|
113,894
|
|
2.94%, 6/4/2051
|
567,000
|
360,962
|
|
3.00%, 3/17/2052
|
1,085,000
|
695,160
|
|
Buckeye Partners LP
|
||
|
3.95%, 12/1/2026
|
1,510,000
|
1,501,520
|
|
4.13%, 12/1/2027
|
265,000
|
261,225
|
|
6.88%, 7/1/2029 (a)
|
2,685,000
|
2,768,114
|
|
Cheniere Corpus Christi Holdings LLC 3.70%, 11/15/2029
|
6,500,000
|
6,312,005
|
|
Cheniere Energy Partners LP
|
||
|
4.50%, 10/1/2029
|
2,794,000
|
2,781,115
|
|
4.00%, 3/1/2031
|
8,350,000
|
8,054,964
|
|
5.75%, 8/15/2034
|
19,445,000
|
20,173,138
|
|
Cheniere Energy, Inc. 4.63%, 10/15/2028
|
5,625,000
|
5,622,133
|
|
Chord Energy Corp.
|
||
|
6.00%, 10/1/2030 (a)
|
1,415,000
|
1,432,619
|
|
6.75%, 3/15/2033 (a)
|
1,465,000
|
1,504,120
|
|
CNX Resources Corp. 5.88%, 3/1/2034 (a)
|
2,045,000
|
2,013,079
|
|
Columbia Pipelines Holding Co. LLC
|
||
|
5.10%, 10/1/2031 (a)
|
667,000
|
670,813
|
|
5.68%, 1/15/2034 (a)
|
2,260,000
|
2,321,578
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Oil, Gas & Consumable Fuels — continued
|
||
|
Columbia Pipelines Operating Co. LLC
|
||
|
6.04%, 11/15/2033 (a)
|
5,910,000
|
6,242,999
|
|
6.50%, 8/15/2043 (a)
|
210,000
|
223,827
|
|
Comstock Resources, Inc. 6.75%, 3/1/2029 (a)
|
3,005,000
|
2,952,529
|
|
ConocoPhillips Co.
|
||
|
3.80%, 3/15/2052
|
990,000
|
731,294
|
|
5.55%, 3/15/2054
|
5,840,000
|
5,674,482
|
|
Coterra Energy, Inc.
|
||
|
3.90%, 5/15/2027
|
30,000
|
29,893
|
|
5.40%, 2/15/2035
|
4,260,000
|
4,317,401
|
|
Crescent Energy Finance LLC
|
||
|
7.75%, 7/31/2029 (a)
|
410,000
|
411,537
|
|
7.88%, 4/15/2032 (a)
|
1,710,000
|
1,752,661
|
|
7.38%, 1/15/2033 (a)
|
965,000
|
980,610
|
|
8.38%, 1/15/2034 (a)
|
1,176,000
|
1,233,577
|
|
Diversified Gas & Oil Corp.
|
||
|
9.75%, 4/9/2029 (i)
|
21,250,000
|
21,512,481
|
|
Series FEB, 9.75%, 4/9/2029 (i)
|
8,000,000
|
8,050,000
|
|
DT Midstream, Inc.
|
||
|
4.13%, 6/15/2029 (a)
|
790,000
|
774,790
|
|
4.38%, 6/15/2031 (a)
|
1,090,000
|
1,055,003
|
|
Eastern Energy Gas Holdings LLC 5.65%, 10/15/2054
|
5,420,000
|
5,179,417
|
|
Ecopetrol SA (Colombia)
|
||
|
8.88%, 1/13/2033
|
600,000
|
633,900
|
|
8.38%, 1/19/2036
|
757,000
|
776,213
|
|
Enbridge, Inc. (Canada)
|
||
|
Series NC5, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.79%),
8.25%, 1/15/2084 (c)
|
3,000,000
|
3,171,150
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.43%), 8.50%, 1/15/2084 (c)
|
4,305,000
|
4,923,529
|
|
Energy Transfer LP
|
||
|
5.25%, 7/1/2029
|
1,050,000
|
1,069,713
|
|
4.15%, 9/15/2029
|
1,150,000
|
1,134,417
|
|
5.95%, 5/15/2054
|
1,000,000
|
965,270
|
|
6.30%, 1/15/2056
|
6,820,000
|
6,886,765
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.50%, 2/15/2056 (c)
|
8,753,000
|
8,825,212
|
|
Eni SpA (Italy)
|
||
|
5.95%, 5/15/2054 (a)
|
5,255,000
|
5,240,539
|
|
6.00%, 5/18/2056 (a)
|
5,000,000
|
4,987,534
|
|
Eni USA, Inc. (Italy) 7.30%, 11/15/2027
|
140,000
|
145,556
|
|
Enterprise Products Operating LLC
|
||
|
Series H, 6.65%, 10/15/2034
|
530,000
|
587,252
|
|
5.20%, 1/15/2036
|
1,580,000
|
1,591,182
|
|
5.55%, 2/16/2055
|
2,285,000
|
2,214,317
|
|
EQT Corp.
|
||
|
4.50%, 1/15/2029
|
77,000
|
76,549
|
|
4.75%, 1/15/2031
|
1,457,000
|
1,448,623
|
|
Esentia Energy Development SAB de CV (Mexico) 6.50%, 7/30/2038 (a)
|
924,000
|
915,222
|
|
Expand Energy Corp.
|
||
|
5.38%, 2/1/2029
|
1,215,000
|
1,212,389
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Oil, Gas & Consumable Fuels — continued
|
||
|
5.38%, 3/15/2030
|
4,586,000
|
4,626,711
|
|
4.75%, 2/1/2032
|
14,890,000
|
14,613,291
|
|
Exxon Mobil Corp. 4.23%, 3/19/2040
|
750,000
|
679,581
|
|
FS Luxembourg SARL (Brazil)
|
||
|
8.88%, 2/12/2031 (a)
|
773,000
|
796,190
|
|
8.63%, 6/25/2033 (a)
|
1,050,000
|
1,042,125
|
|
Gulfport Energy Operating Corp. 6.75%, 9/1/2029 (a)
|
1,426,000
|
1,463,110
|
|
Harvest Midstream I LP
|
||
|
7.50%, 5/15/2032 (a)
|
2,155,000
|
2,239,120
|
|
6.75%, 5/15/2034 (a)
|
337,000
|
345,988
|
|
Hess Corp.
|
||
|
4.30%, 4/1/2027
|
1,350,000
|
1,351,124
|
|
5.60%, 2/15/2041
|
7,670,000
|
7,829,363
|
|
Hess Midstream Operations LP
|
||
|
5.88%, 3/1/2028 (a)
|
315,000
|
318,157
|
|
5.13%, 6/15/2028 (a)
|
90,000
|
89,837
|
|
5.50%, 10/15/2030 (a)
|
3,310,000
|
3,305,682
|
|
Hilcorp Energy I LP 5.75%, 2/1/2029 (a)
|
4,209,000
|
4,199,658
|
|
Howard Midstream Energy Partners LLC
|
||
|
7.38%, 7/15/2032 (a)
|
2,645,000
|
2,734,044
|
|
6.63%, 1/15/2034 (a)
|
1,195,000
|
1,209,056
|
|
Kinder Morgan, Inc.
|
||
|
5.15%, 6/1/2030
|
4,660,000
|
4,758,973
|
|
5.05%, 2/15/2046
|
550,000
|
498,268
|
|
3.25%, 8/1/2050
|
1,000,000
|
665,964
|
|
Kinetik Holdings LP
|
||
|
6.63%, 12/15/2028 (a)
|
1,090,000
|
1,113,063
|
|
5.88%, 6/15/2030 (a)
|
12,884,000
|
12,948,520
|
|
Matador Resources Co.
|
||
|
6.50%, 4/15/2032 (a)
|
3,330,000
|
3,374,429
|
|
6.25%, 4/15/2033 (a)
|
954,000
|
959,267
|
|
6.00%, 4/15/2034 (a)
|
505,000
|
498,973
|
|
MPLX LP
|
||
|
4.80%, 2/15/2031
|
17,060,000
|
17,049,329
|
|
5.30%, 4/1/2036
|
9,100,000
|
9,000,018
|
|
4.95%, 3/14/2052
|
55,000
|
46,747
|
|
NGL Energy Operating LLC
|
||
|
8.13%, 2/15/2029 (a)
|
473,000
|
491,472
|
|
8.38%, 2/15/2032 (a)
|
210,000
|
220,644
|
|
NGPL PipeCo LLC 3.25%, 7/15/2031 (a)
|
710,000
|
653,115
|
|
Northriver Midstream Finance LP (Canada) 6.75%, 7/15/2032 (a)
|
1,155,000
|
1,174,814
|
|
NuStar Logistics LP
|
||
|
5.63%, 4/28/2027
|
580,000
|
581,764
|
|
6.38%, 10/1/2030
|
2,230,000
|
2,315,409
|
|
ONEOK Partners LP 6.65%, 10/1/2036
|
300,000
|
326,617
|
|
ONEOK, Inc.
|
||
|
6.50%, 9/1/2030 (a)
|
1,550,000
|
1,637,732
|
|
4.75%, 10/15/2031
|
1,410,000
|
1,401,588
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Oil, Gas & Consumable Fuels — continued
|
||
|
5.60%, 4/1/2044
|
1,975,000
|
1,859,080
|
|
Ovintiv, Inc. 6.25%, 7/15/2033
|
1,324,000
|
1,404,224
|
|
Permian Resources Operating LLC
|
||
|
5.88%, 7/1/2029 (a)
|
4,295,000
|
4,299,420
|
|
9.88%, 7/15/2031 (a)
|
179,000
|
188,887
|
|
7.00%, 1/15/2032 (a)
|
755,000
|
787,260
|
|
6.25%, 2/1/2033 (a)
|
728,000
|
747,936
|
|
Peru LNG Srl (Peru) 5.38%, 3/22/2030 (a)
|
600,120
|
582,116
|
|
Petroleos Mexicanos (Mexico)
|
||
|
6.84%, 1/23/2030
|
1,950,000
|
2,004,600
|
|
5.95%, 1/28/2031
|
500,000
|
493,580
|
|
6.70%, 2/16/2032
|
5,250,000
|
5,286,750
|
|
10.00%, 2/7/2033
|
3,700,000
|
4,345,650
|
|
7.69%, 1/23/2050
|
13,030,000
|
11,929,356
|
|
Pioneer Natural Resources Co. 1.90%, 8/15/2030
|
2,330,000
|
2,103,726
|
|
Range Resources Corp. 4.75%, 2/15/2030 (a)
|
210,000
|
205,509
|
|
Rockies Express Pipeline LLC
|
||
|
4.95%, 7/15/2029 (a)
|
1,015,000
|
1,005,729
|
|
4.80%, 5/15/2030 (a)
|
650,000
|
636,889
|
|
Sabine Pass Liquefaction LLC 5.00%, 3/15/2027
|
1,225,000
|
1,226,995
|
|
Shell Finance US, Inc.
|
||
|
5.13%, 10/15/2041 (a)
|
2,383,000
|
2,289,323
|
|
3.75%, 9/12/2046
|
141,000
|
109,334
|
|
SM Energy Co.
|
||
|
6.75%, 9/15/2026
|
305,000
|
305,000
|
|
6.63%, 1/15/2027
|
790,000
|
791,005
|
|
6.75%, 8/1/2029 (a)
|
2,880,000
|
2,952,821
|
|
8.63%, 11/1/2030 (a)
|
3,450,000
|
3,647,360
|
|
8.75%, 7/1/2031 (a)
|
4,412,000
|
4,618,618
|
|
7.00%, 8/1/2032 (a)
|
822,000
|
842,070
|
|
6.63%, 4/15/2034 (a)
|
1,179,000
|
1,185,397
|
|
Sonangol Finance Ltd. (Angola) 10.00%, 1/29/2031 (a)
|
1,610,000
|
1,658,574
|
|
South Bow USA Infrastructure Holdings LLC (Canada)
|
||
|
4.91%, 9/1/2027
|
2,715,000
|
2,725,090
|
|
5.03%, 10/1/2029
|
250,000
|
251,655
|
|
Suncor Energy, Inc. (Canada) 6.80%, 5/15/2038
|
46,000
|
50,479
|
|
Sunoco LP
|
||
|
5.88%, 3/15/2028
|
765,000
|
766,831
|
|
7.00%, 5/1/2029 (a)
|
365,000
|
376,810
|
|
4.50%, 5/15/2029
|
360,000
|
352,800
|
|
4.50%, 4/30/2030
|
1,710,000
|
1,661,280
|
|
5.63%, 3/15/2031 (a)
|
4,790,000
|
4,796,035
|
|
7.25%, 5/1/2032 (a)
|
3,060,000
|
3,197,351
|
|
Tallgrass Energy Partners LP
|
||
|
5.50%, 1/15/2028 (a)
|
110,000
|
109,990
|
|
7.38%, 2/15/2029 (a)
|
745,000
|
769,138
|
|
6.00%, 12/31/2030 (a)
|
3,990,000
|
4,014,670
|
|
6.00%, 9/1/2031 (a)
|
405,000
|
405,077
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Oil, Gas & Consumable Fuels — continued
|
||
|
TotalEnergies Capital International SA (France)
|
||
|
2.99%, 6/29/2041
|
270,000
|
202,374
|
|
3.46%, 7/12/2049
|
924,000
|
663,993
|
|
TotalEnergies Capital SA (France)
|
||
|
5.49%, 4/5/2054
|
5,280,000
|
5,129,271
|
|
5.64%, 4/5/2064
|
7,705,000
|
7,497,387
|
|
TransCanada PipeLines Ltd. (Canada)
|
||
|
4.63%, 3/1/2034
|
1,650,000
|
1,599,257
|
|
5.85%, 3/15/2036
|
1,000,000
|
1,042,882
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.25%), 6.13%, 10/17/2056 (c)
|
539,000
|
542,969
|
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.12%), 6.38%, 10/17/2056 (c)
|
592,000
|
597,832
|
|
Transcanada Trust (Canada) (3-MONTH CME TERM SOFR + 4.42%), 5.50%, 9/15/2079 (c)
|
8,554,000
|
8,511,177
|
|
Uzbekneftegaz JSC (Uzbekistan) 8.75%, 5/7/2030 (a)
|
1,000,000
|
1,077,690
|
|
Venture Global Calcasieu Pass LLC
|
||
|
3.88%, 8/15/2029 (a)
|
917,000
|
878,578
|
|
3.88%, 11/1/2033 (a)
|
3,783,000
|
3,372,235
|
|
6.00%, 5/1/2036 (a)
|
182,000
|
184,047
|
|
Venture Global LNG, Inc.
|
||
|
8.13%, 6/1/2028 (a)
|
3,785,000
|
3,869,137
|
|
9.50%, 2/1/2029 (a)
|
585,000
|
636,916
|
|
7.00%, 1/15/2030 (a)
|
530,000
|
543,653
|
|
8.38%, 6/1/2031 (a)
|
1,740,000
|
1,810,625
|
|
9.88%, 2/1/2032 (a)
|
1,340,000
|
1,432,749
|
|
Venture Global Plaquemines LNG LLC
|
||
|
6.13%, 12/15/2030 (a)
|
772,000
|
792,966
|
|
6.50%, 1/15/2034 (a)
|
5,035,000
|
5,264,123
|
|
6.50%, 6/15/2034 (a)
|
546,000
|
569,815
|
|
6.75%, 1/15/2036 (a)
|
1,000,000
|
1,060,626
|
|
Williams Cos., Inc. (The)
|
||
|
4.65%, 8/15/2032
|
2,635,000
|
2,605,786
|
|
5.80%, 11/15/2054
|
2,000,000
|
1,955,235
|
|
6.00%, 3/15/2055
|
3,435,000
|
3,442,609
|
|
|
|
427,992,699
|
|
Passenger Airlines — 0.1%
|
||
|
American Airlines, Inc.
|
||
|
7.25%, 2/15/2028 (a)
|
400,000
|
405,775
|
|
5.75%, 4/20/2029 (a)
|
9,380,000
|
9,369,588
|
|
JetBlue Airways Corp. 9.88%, 9/20/2031 (a)
|
1,220,000
|
1,122,207
|
|
United Airlines Holdings, Inc. 4.88%, 3/1/2029
|
645,000
|
636,465
|
|
United Airlines Pass-Through Trust Series 2016-2, Class A, 3.10%, 10/7/2028
|
5,808
|
5,547
|
|
United Airlines, Inc. 4.63%, 4/15/2029 (a)
|
1,680,000
|
1,657,035
|
|
|
|
13,196,617
|
|
Personal Care Products — 0.0% ^
|
||
|
Edgewell Personal Care Co.
|
||
|
5.50%, 6/1/2028 (a)
|
2,700,000
|
2,690,434
|
|
4.13%, 4/1/2029 (a)
|
315,000
|
301,051
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Personal Care Products — continued
|
||
|
Perrigo Finance Unlimited Co.
|
||
|
5.15%, 6/15/2030 (g)
|
765,000
|
733,457
|
|
6.13%, 9/30/2032
|
1,628,000
|
1,554,062
|
|
|
|
5,279,004
|
|
Pharmaceuticals — 0.3%
|
||
|
1261229 BC Ltd. 10.00%, 4/15/2032 (a)
|
754,000
|
771,958
|
|
Bausch Health Cos., Inc. (Canada) 4.88%, 6/1/2028 (a)
|
595,000
|
550,185
|
|
Bristol-Myers Squibb Co.
|
||
|
5.75%, 2/1/2031
|
500,000
|
524,380
|
|
4.13%, 6/15/2039
|
629,000
|
562,895
|
|
2.35%, 11/13/2040
|
480,000
|
336,747
|
|
5.55%, 2/22/2054
|
8,022,000
|
7,814,617
|
|
Eli Lilly & Co. 4.95%, 2/27/2063
|
740,000
|
658,754
|
|
Merck & Co., Inc.
|
||
|
4.00%, 3/7/2049
|
240,000
|
190,210
|
|
5.55%, 12/4/2055
|
10,430,000
|
10,251,283
|
|
2.90%, 12/10/2061
|
605,000
|
349,734
|
|
Organon & Co.
|
||
|
4.13%, 4/30/2028 (a)
|
1,300,000
|
1,284,134
|
|
5.13%, 4/30/2031 (a)
|
1,675,000
|
1,660,275
|
|
Pfizer Investment Enterprises Pte. Ltd. 5.30%, 5/19/2053
|
3,275,000
|
3,073,798
|
|
Pfizer, Inc. 4.40%, 5/15/2044
|
500,000
|
436,039
|
|
Takeda Pharmaceutical Co. Ltd. (Japan)
|
||
|
5.00%, 11/26/2028
|
1,000,000
|
1,010,651
|
|
5.65%, 7/5/2044
|
236,000
|
234,096
|
|
3.18%, 7/9/2050
|
743,000
|
492,763
|
|
Zoetis, Inc. 5.60%, 11/16/2032
|
214,000
|
222,928
|
|
|
|
30,425,447
|
|
Professional Services — 0.0% ^
|
||
|
Science Applications International Corp. 5.88%, 11/1/2033 (a)
|
932,000
|
920,247
|
|
Real Estate Management & Development — 0.1%
|
||
|
Ontario Teachers' Cadillac Fairview Properties Trust (Canada) 3.88%, 3/20/2027 (a)
|
200,000
|
199,247
|
|
Triad Properties Corp. 0.00%, 4/1/2052 ‡
|
11,546,762
|
11,950,899
|
|
|
|
12,150,146
|
|
Residential REITs — 0.0% ^
|
||
|
Camden Property Trust
|
||
|
5.85%, 11/3/2026
|
400,000
|
402,225
|
|
3.15%, 7/1/2029
|
130,000
|
124,792
|
|
Essex Portfolio LP 5.50%, 4/1/2034
|
2,160,000
|
2,201,409
|
|
Mid-America Apartments LP 4.20%, 6/15/2028
|
100,000
|
99,622
|
|
UDR, Inc.
|
||
|
2.10%, 8/1/2032
|
45,000
|
38,262
|
|
5.13%, 9/1/2034
|
1,740,000
|
1,733,524
|
|
|
|
4,599,834
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Retail REITs — 0.0% ^
|
||
|
NNN REIT, Inc.
|
||
|
3.60%, 12/15/2026
|
39,000
|
38,850
|
|
5.60%, 10/15/2033
|
100,000
|
103,013
|
|
5.50%, 6/15/2034
|
220,000
|
224,295
|
|
3.50%, 4/15/2051
|
1,145,000
|
799,947
|
|
Realty Income Corp.
|
||
|
4.13%, 10/15/2026
|
44,000
|
44,012
|
|
2.70%, 2/15/2032
|
780,000
|
696,181
|
|
|
|
1,906,298
|
|
Semiconductors & Semiconductor Equipment — 0.6%
|
||
|
Amkor Technology, Inc. 5.88%, 10/1/2033 (a)
|
2,157,000
|
2,166,894
|
|
ams-OSRAM AG (Austria) 12.25%, 3/30/2029 (a)
|
1,050,000
|
1,114,312
|
|
Broadcom, Inc.
|
||
|
2.45%, 2/15/2031
|
7,150,000
|
6,493,512
|
|
4.90%, 7/15/2032
|
3,270,000
|
3,289,108
|
|
3.47%, 4/15/2034
|
5,000,000
|
4,499,895
|
|
5.20%, 7/15/2035
|
345,000
|
347,066
|
|
3.14%, 11/15/2035 (a)
|
9,775,000
|
8,326,886
|
|
Entegris, Inc.
|
||
|
4.38%, 4/15/2028 (a)
|
1,000,000
|
986,016
|
|
5.95%, 6/15/2030 (a)
|
4,245,000
|
4,288,808
|
|
Foundry JV Holdco LLC
|
||
|
5.50%, 1/25/2031 (a)
|
3,735,000
|
3,826,810
|
|
6.25%, 1/25/2035 (a)
|
13,605,000
|
14,386,756
|
|
6.10%, 1/25/2036 (a)
|
638,000
|
670,441
|
|
Kioxia Holdings Corp. (Japan)
|
||
|
6.25%, 7/24/2030 (a)
|
3,983,000
|
4,100,858
|
|
6.63%, 7/24/2033 (a)
|
420,000
|
440,331
|
|
KLA Corp.
|
||
|
4.65%, 7/15/2032
|
440,000
|
441,556
|
|
3.30%, 3/1/2050
|
280,000
|
194,048
|
|
Marvell Technology, Inc.
|
||
|
5.75%, 2/15/2029
|
550,000
|
565,863
|
|
4.75%, 7/15/2030
|
630,000
|
631,983
|
|
2.95%, 4/15/2031
|
8,340,000
|
7,685,454
|
|
5.45%, 7/15/2035
|
1,293,000
|
1,322,991
|
|
5.30%, 4/15/2036
|
496,000
|
496,209
|
|
ON Semiconductor Corp. 3.88%, 9/1/2028 (a)
|
750,000
|
731,741
|
|
Qnity Electronics, Inc.
|
||
|
5.75%, 8/15/2032 (a)
|
4,334,000
|
4,362,227
|
|
6.25%, 8/15/2033 (a)
|
856,000
|
872,884
|
|
Synaptics, Inc. 4.00%, 6/15/2029 (a)
|
1,490,000
|
1,427,467
|
|
TSMC Arizona Corp. (Taiwan) 2.50%, 10/25/2031
|
960,000
|
869,957
|
|
TSMC Global Ltd. (Taiwan) 1.00%, 9/28/2027 (a)
|
380,000
|
363,998
|
|
|
|
74,904,071
|
|
Software — 0.6%
|
||
|
Elastic NV 4.13%, 7/15/2029 (a)
|
1,005,000
|
962,314
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Software — continued
|
||
|
Fair Isaac Corp. 6.00%, 5/15/2033 (a)
|
935,000
|
925,931
|
|
NCR Voyix Corp.
|
||
|
5.00%, 10/1/2028 (a)
|
2,665,000
|
2,619,371
|
|
5.13%, 4/15/2029 (a)
|
2,104,000
|
2,060,030
|
|
OAK-Eagle Acquireco, Inc. 7.25%, 7/1/2033 (a)
|
2,033,000
|
2,120,107
|
|
Oracle Corp.
|
||
|
2.65%, 7/15/2026
|
583,000
|
581,892
|
|
2.88%, 3/25/2031
|
750,000
|
671,783
|
|
5.70%, 2/4/2036
|
1,012,000
|
994,265
|
|
3.65%, 3/25/2041
|
9,470,000
|
6,934,732
|
|
6.55%, 2/4/2046
|
4,095,000
|
3,948,366
|
|
4.00%, 7/15/2046
|
530,000
|
368,658
|
|
3.95%, 3/25/2051
|
1,380,000
|
906,509
|
|
5.38%, 9/27/2054
|
2,871,000
|
2,301,859
|
|
4.38%, 5/15/2055
|
2,888,000
|
1,979,879
|
|
6.00%, 8/3/2055
|
5,459,000
|
4,786,616
|
|
6.70%, 2/4/2056
|
8,455,000
|
8,143,107
|
|
6.85%, 2/4/2066
|
7,725,000
|
7,399,718
|
|
RingCentral, Inc. 8.50%, 8/15/2030 (a)
|
1,205,000
|
1,263,536
|
|
Roper Technologies, Inc.
|
||
|
4.45%, 9/15/2030
|
1,105,000
|
1,088,890
|
|
1.75%, 2/15/2031
|
5,355,000
|
4,644,319
|
|
4.75%, 2/15/2032
|
440,000
|
434,659
|
|
4.90%, 10/15/2034
|
1,720,000
|
1,661,437
|
|
Salesforce, Inc. 2.70%, 7/15/2041
|
1,820,000
|
1,254,537
|
|
SS&C Technologies, Inc.
|
||
|
5.50%, 9/30/2027 (a)
|
3,035,000
|
3,035,237
|
|
6.50%, 6/1/2032 (a)
|
1,285,000
|
1,296,443
|
|
Synopsys, Inc.
|
||
|
5.00%, 4/1/2032
|
12,490,000
|
12,567,489
|
|
5.70%, 4/1/2055
|
1,196,000
|
1,166,012
|
|
|
|
76,117,696
|
|
Specialized REITs — 0.3%
|
||
|
American Tower Corp.
|
||
|
1.45%, 9/15/2026
|
85,000
|
84,357
|
|
5.20%, 2/15/2029
|
600,000
|
609,635
|
|
5.00%, 1/31/2030
|
2,500,000
|
2,528,430
|
|
5.90%, 11/15/2033
|
100,000
|
104,987
|
|
5.45%, 2/15/2034
|
10,000,000
|
10,202,187
|
|
Crown Castle, Inc.
|
||
|
2.90%, 3/15/2027
|
270,000
|
267,042
|
|
2.10%, 4/1/2031
|
10,000,000
|
8,792,017
|
|
2.50%, 7/15/2031
|
4,030,000
|
3,589,058
|
|
Equinix, Inc. 3.90%, 4/15/2032
|
280,000
|
265,615
|
|
Extra Space Storage LP 2.20%, 10/15/2030
|
88,000
|
79,066
|
|
Iron Mountain, Inc.
|
||
|
4.88%, 9/15/2027 (a)
|
750,000
|
747,315
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Specialized REITs — continued
|
||
|
5.25%, 3/15/2028 (a)
|
835,000
|
835,077
|
|
5.00%, 7/15/2028 (a)
|
2,800,000
|
2,792,432
|
|
6.25%, 1/15/2033 (a)
|
731,000
|
742,361
|
|
Millrose Properties, Inc.
|
||
|
6.38%, 8/1/2030 (a)
|
955,000
|
968,149
|
|
6.25%, 9/15/2032 (a)
|
407,000
|
408,837
|
|
Public Storage Operating Co.
|
||
|
2.25%, 11/9/2031
|
90,000
|
79,963
|
|
5.10%, 8/1/2033
|
304,000
|
309,670
|
|
SBA Communications Corp. 3.13%, 2/1/2029
|
3,690,000
|
3,538,951
|
|
|
|
36,945,149
|
|
Specialty Retail — 0.2%
|
||
|
Asbury Automotive Group, Inc.
|
||
|
4.50%, 3/1/2028
|
542,000
|
538,227
|
|
4.63%, 11/15/2029 (a)
|
1,415,000
|
1,374,303
|
|
4.75%, 3/1/2030
|
210,000
|
204,334
|
|
Bath & Body Works, Inc.
|
||
|
7.50%, 6/15/2029
|
1,703,000
|
1,728,584
|
|
6.63%, 10/1/2030 (a)
|
2,515,000
|
2,559,407
|
|
6.88%, 11/1/2035
|
950,000
|
950,467
|
|
Escrow Rite Aid 0.00%, 12/31/2049 ‡ (j)
|
9,606
|
—
|
|
Gap, Inc. (The) 3.63%, 10/1/2029 (a)
|
2,275,000
|
2,129,721
|
|
Home Depot, Inc. (The)
|
||
|
4.95%, 6/25/2034
|
6,110,000
|
6,138,950
|
|
3.63%, 4/15/2052
|
805,000
|
579,542
|
|
Lithia Motors, Inc.
|
||
|
3.88%, 6/1/2029 (a)
|
1,045,000
|
1,001,604
|
|
5.50%, 10/1/2030 (a)
|
1,745,000
|
1,730,133
|
|
Penske Automotive Group, Inc. 3.75%, 6/15/2029
|
989,000
|
947,876
|
|
PetSmart LLC 7.50%, 9/15/2032 (a)
|
1,344,000
|
1,354,252
|
|
Sonic Automotive, Inc.
|
||
|
4.63%, 11/15/2029 (a)
|
3,145,000
|
3,082,779
|
|
4.88%, 11/15/2031 (a)
|
315,000
|
301,488
|
|
|
|
24,621,667
|
|
Technology Hardware, Storage & Peripherals — 0.0% ^
|
||
|
Apple, Inc.
|
||
|
4.38%, 5/13/2045
|
429,000
|
376,940
|
|
2.70%, 8/5/2051
|
670,000
|
414,321
|
|
Seagate Data Storage Technology Pte. Ltd.
|
||
|
4.09%, 6/1/2029 (a)
|
240,000
|
235,226
|
|
3.13%, 7/15/2029 (a)
|
335,000
|
306,766
|
|
8.25%, 12/15/2029 (a)
|
1,484,000
|
1,546,520
|
|
4.13%, 1/15/2031 (a)
|
114,000
|
108,870
|
|
8.50%, 7/15/2031 (a)
|
1,135,000
|
1,186,750
|
|
9.63%, 12/1/2032 (a)
|
220,000
|
244,369
|
|
Xerox Holdings Corp. 8.88%, 11/30/2029 (a)
|
480,000
|
216,000
|
|
|
|
4,635,762
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Tobacco — 0.6%
|
||
|
Altria Group, Inc.
|
||
|
4.50%, 8/6/2030
|
2,000,000
|
1,990,375
|
|
2.45%, 2/4/2032
|
480,000
|
422,847
|
|
5.63%, 2/6/2035
|
7,885,000
|
8,101,377
|
|
BAT Capital Corp. (United Kingdom)
|
||
|
2.26%, 3/25/2028
|
1,045,000
|
1,005,386
|
|
4.39%, 8/15/2037
|
7,529,000
|
6,887,802
|
|
3.73%, 9/25/2040
|
2,874,000
|
2,323,079
|
|
5.65%, 3/16/2052
|
1,080,000
|
1,017,958
|
|
Imperial Brands Finance plc (United Kingdom) 5.88%, 7/1/2034 (a)
|
8,860,000
|
9,138,956
|
|
Japan Tobacco, Inc. (Japan)
|
||
|
5.25%, 6/15/2030 (a)
|
5,140,000
|
5,257,723
|
|
5.85%, 6/15/2035 (a)
|
1,490,000
|
1,562,093
|
|
Philip Morris International, Inc.
|
||
|
3.13%, 3/2/2028
|
459,000
|
449,675
|
|
5.13%, 2/13/2031
|
7,000,000
|
7,153,505
|
|
5.75%, 11/17/2032
|
820,000
|
860,726
|
|
5.38%, 2/15/2033
|
21,545,000
|
22,183,994
|
|
5.63%, 9/7/2033
|
6,640,000
|
6,935,679
|
|
5.25%, 2/13/2034
|
3,618,000
|
3,685,012
|
|
4.38%, 11/15/2041
|
345,000
|
302,799
|
|
|
|
79,278,986
|
|
Trading Companies & Distributors — 0.2%
|
||
|
Herc Holdings, Inc. 7.00%, 6/15/2030 (a)
|
3,184,000
|
3,308,408
|
|
QXO Building Products, Inc. 6.75%, 4/30/2032 (a)
|
1,495,000
|
1,523,338
|
|
United Rentals North America, Inc.
|
||
|
4.88%, 1/15/2028
|
2,105,000
|
2,105,438
|
|
5.25%, 1/15/2030
|
2,250,000
|
2,250,522
|
|
5.38%, 11/15/2033 (a)
|
4,366,000
|
4,311,396
|
|
6.13%, 3/15/2034 (a)
|
3,865,000
|
3,966,588
|
|
WESCO Distribution, Inc.
|
||
|
7.25%, 6/15/2028 (a)
|
855,000
|
856,523
|
|
6.38%, 3/15/2029 (a)
|
1,775,000
|
1,814,801
|
|
5.25%, 4/15/2031 (a)
|
417,000
|
413,044
|
|
6.63%, 3/15/2032 (a)
|
3,250,000
|
3,352,511
|
|
6.38%, 3/15/2033 (a)
|
1,025,000
|
1,053,209
|
|
|
|
24,955,778
|
|
Water Utilities — 0.0% ^
|
||
|
American Water Capital Corp.
|
||
|
5.15%, 3/1/2034
|
500,000
|
509,041
|
|
5.45%, 3/1/2054
|
420,000
|
401,457
|
|
|
|
910,498
|
|
Wireless Telecommunication Services — 0.2%
|
||
|
Digicel International Finance Ltd. (Jamaica) 8.63%, 8/1/2032 (a)
|
2,153,000
|
2,233,522
|
|
T-Mobile USA, Inc.
|
||
|
4.80%, 7/15/2028
|
2,140,000
|
2,156,417
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Corporate Bonds — continued
|
||
|
Wireless Telecommunication Services — continued
|
||
|
2.63%, 2/15/2029
|
1,493,000
|
1,422,763
|
|
3.38%, 4/15/2029
|
3,835,000
|
3,721,894
|
|
5.20%, 1/15/2033
|
11,550,000
|
11,752,765
|
|
5.05%, 7/15/2033
|
355,000
|
357,321
|
|
6.70%, 12/15/2033
|
455,000
|
500,409
|
|
5.15%, 4/15/2034
|
5,000,000
|
5,042,615
|
|
3.40%, 10/15/2052
|
1,505,000
|
1,001,733
|
|
5.50%, 1/15/2055
|
1,500,000
|
1,402,663
|
|
|
|
29,592,102
|
|
Total Corporate Bonds
(Cost $4,084,972,385)
|
|
4,087,299,629
|
|
Mortgage-Backed Securities — 20.1%
|
||
|
FHLMC Gold Pools, 30 Year Pool # G60855, 4.50%, 12/1/2045
|
48,823
|
47,992
|
|
FHLMC Gold Pools, Other
|
|
|
|
Pool # WN1158, 1.80%, 11/1/2028
|
4,000,000
|
3,767,350
|
|
Pool # WN2203, 3.75%, 8/1/2032
|
1,200,000
|
1,147,134
|
|
Pool # WN3233, 3.19%, 7/1/2033
|
3,942,665
|
3,622,042
|
|
Pool # WA1640, 3.20%, 4/1/2034
|
15,084,472
|
13,793,832
|
|
Pool # WR2013, 4.25%, 11/1/2034
|
17,000,000
|
16,491,800
|
|
Pool # WA1645, 3.50%, 1/1/2035
|
21,594,817
|
19,972,896
|
|
Pool # N31271, 4.50%, 1/1/2036
|
10,451
|
10,307
|
|
Pool # RE0003, 4.00%, 7/1/2049
|
1,727,834
|
1,614,281
|
|
Pool # RE6055, 2.50%, 8/1/2050
|
11,696,912
|
9,711,558
|
|
FHLMC UMBS, 15 Year Pool # SB1377, 1.00%, 3/1/2037
|
11,113,760
|
9,705,420
|
|
FHLMC UMBS, 20 Year Pool # SC0310, 2.00%, 8/1/2042
|
734,285
|
637,620
|
|
FHLMC UMBS, 30 Year
|
|
|
|
Pool # SI2041, 3.00%, 10/1/2049
|
11,841,176
|
10,469,519
|
|
Pool # QA5045, 4.00%, 11/1/2049
|
32,065
|
30,419
|
|
Pool # RA1983, 3.00%, 2/1/2050
|
3,367,481
|
2,981,320
|
|
Pool # QB1397, 2.50%, 7/1/2050
|
1,790,840
|
1,502,424
|
|
Pool # SD8089, 2.50%, 7/1/2050
|
3,592,163
|
3,039,764
|
|
Pool # QB1686, 2.50%, 8/1/2050
|
2,587,780
|
2,212,495
|
|
Pool # QB2772, 2.50%, 8/1/2050
|
1,701,013
|
1,453,245
|
|
Pool # SI2064, 3.00%, 8/1/2050
|
3,807,677
|
3,360,270
|
|
Pool # RA5422, 3.00%, 6/1/2051
|
7,024,839
|
6,199,412
|
|
Pool # QC3918, 2.50%, 7/1/2051
|
4,224,932
|
3,554,994
|
|
Pool # SD0664, 3.00%, 8/1/2051
|
18,106,096
|
15,832,877
|
|
Pool # RA5915, 3.00%, 9/1/2051
|
8,458,158
|
7,493,051
|
|
Pool # QC7968, 2.50%, 10/1/2051
|
3,291,714
|
2,820,031
|
|
Pool # RA6228, 2.50%, 11/1/2051
|
4,256,734
|
3,607,843
|
|
Pool # QD0295, 3.00%, 11/1/2051
|
3,744,077
|
3,304,155
|
|
Pool # RA6222, 3.00%, 11/1/2051
|
2,766,622
|
2,425,378
|
|
Pool # SD0781, 3.00%, 11/1/2051
|
8,012,648
|
7,041,335
|
|
Pool # SD2968, 2.00%, 12/1/2051
|
5,744,888
|
4,668,176
|
|
Pool # RA6359, 2.50%, 12/1/2051
|
4,104,467
|
3,458,450
|
|
Pool # SD8184, 3.00%, 12/1/2051
|
1,193,246
|
1,051,919
|
|
Pool # RA6617, 2.50%, 1/1/2052
|
5,600,921
|
4,748,814
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # QD6091, 3.00%, 1/1/2052
|
9,531,729
|
8,347,092
|
|
Pool # RA6815, 2.50%, 2/1/2052
|
1,252,340
|
1,067,210
|
|
Pool # QD6081, 3.00%, 2/1/2052
|
9,337,994
|
8,177,416
|
|
Pool # SD3770, 2.50%, 3/1/2052
|
1,930,503
|
1,653,369
|
|
Pool # QD8809, 3.00%, 3/1/2052
|
8,062,489
|
7,129,955
|
|
Pool # SD2301, 3.50%, 3/1/2052
|
1,046,952
|
959,003
|
|
Pool # SD7554, 2.50%, 4/1/2052
|
5,712,520
|
4,891,010
|
|
Pool # QE1075, 3.00%, 4/1/2052
|
1,293,819
|
1,137,620
|
|
Pool # SL1568, 2.50%, 5/1/2052
|
7,620,727
|
6,488,958
|
|
Pool # SD1464, 3.00%, 5/1/2052
|
841,703
|
742,308
|
|
Pool # SD1844, 3.00%, 6/1/2052
|
13,642,396
|
12,000,039
|
|
Pool # RA7468, 4.00%, 6/1/2052
|
7,954,639
|
7,527,123
|
|
Pool # RA7522, 4.50%, 6/1/2052
|
4,586,847
|
4,424,233
|
|
Pool # SD3781, 4.00%, 7/1/2052
|
4,223,976
|
3,973,982
|
|
Pool # SD1303, 4.50%, 7/1/2052
|
1,152,110
|
1,112,292
|
|
Pool # SD1189, 5.00%, 7/1/2052
|
6,931,851
|
6,863,850
|
|
Pool # SD1305, 5.00%, 7/1/2052
|
11,649,342
|
11,532,816
|
|
Pool # QE8520, 3.50%, 8/1/2052
|
10,875,561
|
9,899,562
|
|
Pool # SD4181, 3.50%, 8/1/2052
|
4,467,409
|
4,093,737
|
|
Pool # QE8091, 4.00%, 8/1/2052
|
1,460,979
|
1,374,626
|
|
Pool # SD1725, 4.00%, 10/1/2052
|
1,612,249
|
1,510,343
|
|
Pool # SD5100, 4.00%, 10/1/2052
|
31,200,601
|
29,330,641
|
|
Pool # QF3433, 5.00%, 11/1/2052
|
1,732,936
|
1,727,811
|
|
Pool # RA8766, 5.00%, 3/1/2053
|
1,532,852
|
1,522,452
|
|
Pool # SD3567, 4.50%, 5/1/2053
|
2,977,830
|
2,882,152
|
|
Pool # SD3879, 5.00%, 5/1/2053
|
7,576,692
|
7,526,456
|
|
Pool # SL1477, 5.00%, 7/1/2053
|
36,429,158
|
36,287,560
|
|
Pool # RA9669, 5.00%, 8/1/2053
|
3,335,881
|
3,297,155
|
|
Pool # RA9626, 5.50%, 8/1/2053
|
5,292,905
|
5,363,765
|
|
Pool # RJ1261, 5.00%, 4/1/2054
|
5,049,007
|
4,981,712
|
|
Pool # RJ1756, 4.50%, 6/1/2054
|
5,340,633
|
5,142,800
|
|
Pool # SD6729, 4.50%, 8/1/2054
|
8,899,991
|
8,586,215
|
|
Pool # RJ2912, 5.50%, 11/1/2054
|
5,650,715
|
5,721,384
|
|
Pool # RJ2914, 5.50%, 11/1/2054
|
9,317,647
|
9,409,242
|
|
Pool # SL1998, 4.00%, 1/1/2055
|
13,816,452
|
13,001,284
|
|
Pool # SD7411, 5.50%, 1/1/2055
|
13,801,587
|
13,897,433
|
|
FNMA UMBS, 15 Year Pool # FM8445, 3.00%, 4/1/2033
|
783,510
|
773,871
|
|
FNMA UMBS, 20 Year Pool # MA3004, 4.00%, 5/1/2037
|
223,601
|
217,702
|
|
FNMA UMBS, 30 Year
|
|
|
|
Pool # AL2374, 4.00%, 12/1/2041
|
66,609
|
64,671
|
|
Pool # AL4244, 4.00%, 7/1/2042
|
74,066
|
71,773
|
|
Pool # BM1164, 3.50%, 12/1/2045
|
59,410
|
55,315
|
|
Pool # MA3073, 4.50%, 7/1/2047
|
13,228
|
12,951
|
|
Pool # BK4769, 5.00%, 8/1/2048
|
236,857
|
238,020
|
|
Pool # BN5013, 5.00%, 1/1/2049
|
92,272
|
92,648
|
|
Pool # BO1073, 4.50%, 6/1/2049
|
12,492
|
12,072
|
|
Pool # BO3039, 3.00%, 7/1/2049
|
145,518
|
127,442
|
|
Pool # BN6475, 4.00%, 7/1/2049
|
7,272
|
6,903
|
|
Pool # BO2562, 4.00%, 7/1/2049
|
65,384
|
62,193
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # BO4519, 4.00%, 8/1/2049
|
3,260
|
3,101
|
|
Pool # BO2203, 3.50%, 9/1/2049
|
182,703
|
167,914
|
|
Pool # FS1186, 3.50%, 1/1/2050
|
1,319,728
|
1,201,146
|
|
Pool # FM3365, 3.00%, 3/1/2050
|
2,289,452
|
2,026,196
|
|
Pool # CA5702, 2.50%, 5/1/2050
|
1,042,999
|
890,675
|
|
Pool # CA6417, 3.00%, 7/1/2050
|
3,352,673
|
2,979,569
|
|
Pool # CA6587, 2.00%, 8/1/2050
|
1,726,468
|
1,402,934
|
|
Pool # BQ0795, 2.50%, 9/1/2050
|
3,807,420
|
3,258,328
|
|
Pool # CA6989, 2.50%, 9/1/2050
|
3,686,306
|
3,152,211
|
|
Pool # FM5179, 2.00%, 12/1/2050
|
12,460,847
|
10,125,598
|
|
Pool # BQ4516, 2.00%, 2/1/2051
|
6,842,707
|
5,527,447
|
|
Pool # CB0193, 3.00%, 4/1/2051
|
10,044,300
|
8,898,377
|
|
Pool # CB0674, 2.50%, 5/1/2051
|
27,172,775
|
23,064,436
|
|
Pool # CB0397, 3.00%, 5/1/2051
|
850,346
|
751,216
|
|
Pool # FS5384, 2.50%, 6/1/2051
|
4,844,859
|
4,142,815
|
|
Pool # BT2415, 2.50%, 7/1/2051
|
5,668,525
|
4,776,741
|
|
Pool # FM7957, 2.50%, 7/1/2051
|
12,542,799
|
10,742,942
|
|
Pool # CB1401, 3.00%, 8/1/2051
|
4,642,208
|
4,128,771
|
|
Pool # CB1406, 3.00%, 8/1/2051
|
11,425,321
|
10,093,321
|
|
Pool # CB1411, 3.00%, 8/1/2051
|
2,903,275
|
2,564,834
|
|
Pool # BT4709, 2.50%, 9/1/2051
|
6,468,112
|
5,445,625
|
|
Pool # CB1684, 3.00%, 9/1/2051
|
7,861,884
|
6,938,051
|
|
Pool # MA4415, 3.00%, 9/1/2051
|
3,798,754
|
3,333,555
|
|
Pool # BU0070, 2.50%, 10/1/2051
|
755,603
|
637,188
|
|
Pool # FM9198, 2.50%, 11/1/2051
|
5,150,609
|
4,405,783
|
|
Pool # FS5389, 2.50%, 11/1/2051
|
2,253,561
|
1,912,851
|
|
Pool # CB2165, 3.00%, 11/1/2051
|
4,689,776
|
4,166,164
|
|
Pool # FS0009, 3.50%, 11/1/2051
|
2,545,524
|
2,323,953
|
|
Pool # FM9961, 3.00%, 12/1/2051
|
393,605
|
344,793
|
|
Pool # MA4494, 3.00%, 12/1/2051
|
3,190,221
|
2,807,427
|
|
Pool # FS4108, 4.00%, 12/1/2051
|
2,978,898
|
2,806,912
|
|
Pool # CB2637, 2.50%, 1/1/2052
|
379,778
|
325,416
|
|
Pool # FS0374, 2.50%, 1/1/2052
|
14,932,842
|
12,761,036
|
|
Pool # FS9472, 2.50%, 1/1/2052
|
5,313,769
|
4,491,765
|
|
Pool # BV0273, 3.00%, 1/1/2052
|
252,860
|
221,058
|
|
Pool # BV0492, 3.00%, 1/1/2052
|
2,993,803
|
2,639,206
|
|
Pool # CB2869, 2.50%, 2/1/2052
|
7,354,184
|
6,268,016
|
|
Pool # MA4548, 2.50%, 2/1/2052
|
5,347,046
|
4,501,724
|
|
Pool # BV3014, 3.00%, 2/1/2052
|
12,104,370
|
10,659,363
|
|
Pool # BV3930, 3.00%, 2/1/2052
|
504,342
|
442,965
|
|
Pool # BV0295, 3.50%, 2/1/2052
|
431,237
|
399,456
|
|
Pool # FS7119, 2.50%, 3/1/2052
|
5,501,175
|
4,657,181
|
|
Pool # FS7150, 2.50%, 3/1/2052
|
7,443,460
|
6,318,060
|
|
Pool # FS7942, 2.50%, 3/1/2052
|
7,185,303
|
6,140,859
|
|
Pool # CB3021, 3.00%, 3/1/2052
|
18,873,090
|
16,588,787
|
|
Pool # FS0957, 3.00%, 3/1/2052
|
220,372
|
192,940
|
|
Pool # FS1954, 3.00%, 3/1/2052
|
1,373,551
|
1,231,504
|
|
Pool # FS4393, 3.00%, 3/1/2052
|
2,459,801
|
2,155,489
|
|
Pool # CB3132, 3.50%, 3/1/2052
|
2,428,657
|
2,212,940
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # FA2174, 2.50%, 4/1/2052
|
13,795,689
|
11,787,382
|
|
Pool # FA1020, 3.00%, 4/1/2052
|
13,216,614
|
11,733,952
|
|
Pool # FS1538, 3.00%, 4/1/2052
|
7,058,215
|
6,261,011
|
|
Pool # BV7203, 3.50%, 4/1/2052
|
4,964,633
|
4,516,784
|
|
Pool # CB3378, 4.00%, 4/1/2052
|
2,540,503
|
2,388,967
|
|
Pool # CB3384, 4.00%, 4/1/2052
|
5,901,390
|
5,550,456
|
|
Pool # BW6017, 3.50%, 5/1/2052
|
416,642
|
382,390
|
|
Pool # CB3504, 3.50%, 5/1/2052
|
11,834,155
|
10,817,683
|
|
Pool # CB3608, 3.50%, 5/1/2052
|
4,080,839
|
3,714,745
|
|
Pool # FA1709, 3.00%, 6/1/2052
|
17,004,686
|
15,035,222
|
|
Pool # FS8820, 3.00%, 7/1/2052
|
37,489,046
|
32,966,979
|
|
Pool # BV9530, 4.00%, 7/1/2052
|
5,996,551
|
5,628,524
|
|
Pool # FS2588, 4.50%, 8/1/2052
|
1,317,629
|
1,272,087
|
|
Pool # FS3536, 4.50%, 8/1/2052
|
1,439,084
|
1,393,978
|
|
Pool # CB4830, 4.50%, 9/1/2052
|
1,213,929
|
1,175,353
|
|
Pool # FS3829, 4.50%, 9/1/2052
|
1,153,591
|
1,113,720
|
|
Pool # CB4624, 5.00%, 9/1/2052
|
6,814,261
|
6,754,940
|
|
Pool # CB4628, 5.00%, 9/1/2052
|
1,816,553
|
1,803,772
|
|
Pool # FS2982, 5.00%, 9/1/2052
|
2,469,127
|
2,452,134
|
|
Pool # BW7443, 4.50%, 10/1/2052
|
7,430,138
|
7,161,846
|
|
Pool # CB4837, 5.00%, 10/1/2052
|
1,119,153
|
1,118,637
|
|
Pool # BW1328, 5.00%, 11/1/2052
|
7,589,350
|
7,513,731
|
|
Pool # BX0627, 5.00%, 11/1/2052
|
1,554,231
|
1,546,660
|
|
Pool # CB5413, 4.00%, 12/1/2052
|
1,698,211
|
1,595,388
|
|
Pool # CB5428, 4.50%, 12/1/2052
|
1,868,939
|
1,804,493
|
|
Pool # BX3808, 5.00%, 3/1/2053
|
682,918
|
677,857
|
|
Pool # BX3811, 5.00%, 3/1/2053
|
1,436,103
|
1,425,099
|
|
Pool # CB5896, 5.00%, 3/1/2053
|
1,602,871
|
1,585,170
|
|
Pool # BX3824, 5.50%, 3/1/2053
|
315,913
|
320,219
|
|
Pool # CB5907, 5.50%, 3/1/2053
|
854,710
|
865,146
|
|
Pool # BY4714, 5.00%, 6/1/2053
|
2,916,833
|
2,882,132
|
|
Pool # BY4776, 5.00%, 7/1/2053
|
2,725,552
|
2,686,181
|
|
Pool # BY4736, 5.50%, 7/1/2053
|
2,506,466
|
2,540,637
|
|
Pool # BY7218, 5.00%, 9/1/2053
|
1,496,153
|
1,475,832
|
|
Pool # FS7420, 6.00%, 1/1/2054
|
2,963,350
|
3,046,099
|
|
Pool # DB3630, 5.50%, 6/1/2054
|
1,700,314
|
1,714,994
|
|
Pool # DB4826, 5.50%, 11/1/2054
|
7,479,827
|
7,517,224
|
|
Pool # DB4845, 5.00%, 12/1/2054
|
14,444,409
|
14,336,744
|
|
Pool # DC6726, 5.00%, 12/1/2054
|
6,601,379
|
6,539,934
|
|
Pool # FA0345, 5.50%, 2/1/2055
|
9,297,912
|
9,424,478
|
|
Pool # FA2088, 4.50%, 6/1/2055
|
13,176,875
|
12,735,287
|
|
Pool # CC0670, 4.00%, 7/1/2055
|
19,309,653
|
18,138,990
|
|
Pool # CC0711, 5.50%, 7/1/2055
|
23,124,157
|
23,462,024
|
|
Pool # CC0876, 6.00%, 8/1/2055
|
10,834,604
|
11,167,907
|
|
FNMA, Other
|
|
|
|
Pool # AM0414, 2.87%, 9/1/2027
|
378,871
|
373,426
|
|
Pool # AN7560, 2.90%, 12/1/2027
|
171,215
|
167,750
|
|
Pool # BS8981, 5.04%, 2/1/2029
|
3,772,610
|
3,827,058
|
|
Pool # BL2367, 3.48%, 5/1/2029
|
504,697
|
492,859
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # BS6079, 3.52%, 7/1/2029
|
2,468,876
|
2,415,218
|
|
Pool # AN6730, 3.01%, 9/1/2029
|
1,905,618
|
1,831,499
|
|
Pool # BS6621, 3.50%, 9/1/2029
|
4,000,000
|
3,894,656
|
|
Pool # BS7011, 4.81%, 9/1/2029
|
2,905,217
|
2,921,451
|
|
Pool # BS8075, 5.00%, 9/1/2029
|
1,479,548
|
1,501,159
|
|
Pool # BZ1760, 4.82%, 11/1/2029
|
5,474,612
|
5,535,356
|
|
Pool # BS1577, 1.82%, 2/1/2030
|
815,468
|
745,493
|
|
Pool # BS6827, 4.19%, 5/1/2030
|
881,802
|
875,423
|
|
Pool # BS4878, 2.44%, 6/1/2030
|
566,208
|
527,204
|
|
Pool # BZ3747, 4.33%, 6/1/2030
|
4,961,000
|
4,957,456
|
|
Pool # BS8846, 4.09%, 7/1/2030
|
2,500,000
|
2,471,341
|
|
Pool # BS9022, 4.46%, 7/1/2030
|
2,640,000
|
2,645,939
|
|
Pool # BS6088, 4.04%, 8/1/2030
|
4,581,475
|
4,514,425
|
|
Pool # BS5171, 2.51%, 10/1/2030
|
1,925,000
|
1,789,353
|
|
Pool # BS8033, 4.43%, 11/1/2030
|
3,046,718
|
3,049,697
|
|
Pool # BZ5082, 4.71%, 11/1/2030
|
4,784,752
|
4,823,706
|
|
Pool # BS8306, 4.52%, 12/1/2030
|
2,907,739
|
2,920,759
|
|
Pool # BS9296, 4.80%, 12/1/2030
|
2,474,785
|
2,505,853
|
|
Pool # BL9645, 1.50%, 1/1/2031
|
100,000
|
88,032
|
|
Pool # BL9627, 1.56%, 1/1/2031
|
500,000
|
440,839
|
|
Pool # BS1731, 1.82%, 1/1/2031
|
919,628
|
823,053
|
|
Pool # BS1304, 1.54%, 3/1/2031
|
1,500,000
|
1,316,791
|
|
Pool # BS2422, 1.67%, 7/1/2031
|
1,200,000
|
1,050,688
|
|
Pool # BS2898, 1.56%, 9/1/2031
|
1,000,000
|
865,036
|
|
Pool # BS4116, 2.28%, 10/1/2031
|
741,291
|
664,367
|
|
Pool # BZ2139, 4.00%, 10/1/2031
|
11,300,000
|
11,027,306
|
|
Pool # BS3612, 1.93%, 11/1/2031
|
1,500,000
|
1,318,241
|
|
Pool # BS4505, 1.93%, 1/1/2032
|
8,000,000
|
7,048,759
|
|
Pool # BS4563, 2.01%, 1/1/2032
|
1,100,000
|
970,391
|
|
Pool # BZ2889, 4.37%, 1/1/2032
|
5,892,384
|
5,853,251
|
|
Pool # BZ2252, 4.65%, 1/1/2032
|
8,552,089
|
8,601,325
|
|
Pool # BS4709, 2.22%, 2/1/2032
|
2,000,000
|
1,770,249
|
|
Pool # BS4654, 2.39%, 3/1/2032
|
1,377,501
|
1,243,311
|
|
Pool # BL6367, 1.82%, 4/1/2032
|
310,169
|
269,893
|
|
Pool # BS5130, 2.55%, 4/1/2032
|
461,729
|
418,742
|
|
Pool # BS5463, 3.34%, 5/1/2032
|
1,674,481
|
1,580,091
|
|
Pool # BS5597, 3.59%, 5/1/2032
|
1,157,147
|
1,108,689
|
|
Pool # BS5195, 2.80%, 6/1/2032
|
1,988,075
|
1,812,063
|
|
Pool # BS5875, 3.66%, 6/1/2032
|
2,038,316
|
1,937,699
|
|
Pool # BZ4362, 4.64%, 7/1/2032
|
2,050,000
|
2,058,001
|
|
Pool # BZ2225, 4.83%, 7/1/2032
|
2,000,000
|
2,025,028
|
|
Pool # BS6301, 3.67%, 8/1/2032
|
945,000
|
900,766
|
|
Pool # BS6385, 3.89%, 8/1/2032
|
2,349,398
|
2,277,883
|
|
Pool # BS6448, 3.93%, 8/1/2032
|
1,550,000
|
1,498,282
|
|
Pool # BZ4488, 4.42%, 8/1/2032
|
11,990,000
|
11,911,686
|
|
Pool # BZ4593, 4.72%, 8/1/2032
|
5,541,000
|
5,584,001
|
|
Pool # BZ4518, 4.81%, 8/1/2032
|
5,098,000
|
5,164,026
|
|
Pool # BS6502, 3.41%, 9/1/2032
|
2,830,512
|
2,663,086
|
|
Pool # BS6335, 3.75%, 9/1/2032
|
1,002,861
|
964,154
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # BS6339, 3.80%, 9/1/2032
|
1,056,986
|
1,015,250
|
|
Pool # BS6347, 4.03%, 9/1/2032
|
350,000
|
337,100
|
|
Pool # BS6417, 3.83%, 10/1/2032
|
2,513,110
|
2,415,221
|
|
Pool # BS6951, 3.90%, 10/1/2032
|
13,290,000
|
12,792,198
|
|
Pool # BS6759, 3.97%, 10/1/2032
|
855,732
|
829,706
|
|
Pool # BZ5238, 4.13%, 10/1/2032
|
10,812,000
|
10,617,230
|
|
Pool # BZ1174, 5.33%, 10/1/2032
|
9,857,196
|
10,202,520
|
|
Pool # BL8708, 1.40%, 11/1/2032
|
200,000
|
165,527
|
|
Pool # BS6995, 4.18%, 11/1/2032
|
1,015,000
|
995,554
|
|
Pool # BS6849, 4.23%, 11/1/2032
|
758,696
|
746,634
|
|
Pool # BS6815, 4.71%, 11/1/2032
|
1,283,000
|
1,295,812
|
|
Pool # BS6994, 4.85%, 11/1/2032
|
661,000
|
672,997
|
|
Pool # BZ5858, 4.09%, 12/1/2032
|
9,530,000
|
9,248,292
|
|
Pool # BZ5811, 4.33%, 12/1/2032
|
5,459,000
|
5,403,486
|
|
Pool # BS7095, 4.80%, 12/1/2032
|
1,023,597
|
1,037,566
|
|
Pool # BZ6279, 4.20%, 1/1/2033
|
23,390,000
|
22,815,548
|
|
Pool # BZ6277, 4.23%, 1/1/2033
|
4,600,000
|
4,518,193
|
|
Pool # BS7663, 4.71%, 1/1/2033
|
1,944,223
|
1,961,718
|
|
Pool # AN8257, 3.26%, 2/1/2033
|
907,188
|
841,984
|
|
Pool # BS7671, 4.76%, 2/1/2033
|
2,177,000
|
2,201,051
|
|
Pool # BS8334, 4.71%, 3/1/2033
|
2,368,369
|
2,379,496
|
|
Pool # BS7740, 4.11%, 4/1/2033
|
2,000,000
|
1,942,037
|
|
Pool # BS8277, 4.39%, 4/1/2033
|
3,014,000
|
2,989,458
|
|
Pool # BS8157, 4.51%, 4/1/2033
|
2,750,000
|
2,747,208
|
|
Pool # BS8256, 4.53%, 4/1/2033
|
2,000,000
|
1,984,348
|
|
Pool # BS8055, 4.71%, 4/1/2033
|
1,498,428
|
1,508,296
|
|
Pool # BS8250, 4.51%, 5/1/2033
|
1,690,617
|
1,685,707
|
|
Pool # BS8152, 4.55%, 5/1/2033
|
2,000,000
|
1,995,201
|
|
Pool # BS8703, 4.48%, 6/1/2033
|
3,000,000
|
2,984,776
|
|
Pool # AN6000, 3.21%, 7/1/2033
|
919,518
|
849,565
|
|
Pool # AN9725, 3.76%, 7/1/2033
|
95,274
|
90,973
|
|
Pool # BS8883, 4.58%, 7/1/2033
|
2,558,000
|
2,540,148
|
|
Pool # BS9146, 4.35%, 8/1/2033
|
2,000,000
|
1,976,065
|
|
Pool # BS6038, 3.98%, 9/1/2033
|
2,085,000
|
1,986,423
|
|
Pool # BS8897, 4.55%, 9/1/2033
|
3,115,000
|
3,114,852
|
|
Pool # BS9616, 4.79%, 9/1/2033
|
1,203,000
|
1,213,894
|
|
Pool # BS9470, 4.45%, 10/1/2033
|
3,000,000
|
2,980,910
|
|
Pool # BS9182, 4.52%, 10/1/2033
|
1,216,000
|
1,213,625
|
|
Pool # BS9310, 4.64%, 10/1/2033
|
1,718,898
|
1,728,536
|
|
Pool # BS4197, 2.14%, 12/1/2033
|
476,415
|
409,079
|
|
Pool # BS4110, 2.13%, 1/1/2034
|
12,123,397
|
10,362,325
|
|
Pool # BZ0419, 4.25%, 1/1/2034
|
5,000,000
|
4,884,305
|
|
Pool # BZ0410, 4.52%, 1/1/2034
|
10,440,000
|
10,379,779
|
|
Pool # BZ0430, 4.32%, 2/1/2034
|
3,625,000
|
3,567,051
|
|
Pool # BZ0420, 4.60%, 2/1/2034
|
20,000,000
|
19,977,580
|
|
Pool # BZ0401, 4.52%, 3/1/2034
|
15,000,000
|
14,901,390
|
|
Pool # BZ0567, 4.94%, 5/1/2034
|
6,240,000
|
6,326,206
|
|
Pool # BS5651, 3.71%, 6/1/2034
|
45,000,000
|
42,286,737
|
|
Pool # BL3625, 2.89%, 9/1/2034
|
2,107,000
|
1,870,171
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # BL3756, 2.92%, 9/1/2034
|
4,866,522
|
4,332,052
|
|
Pool # BS6427, 3.75%, 9/1/2034
|
1,010,000
|
947,846
|
|
Pool # BL3772, 2.92%, 10/1/2034
|
664,850
|
596,511
|
|
Pool # BZ2030, 4.39%, 10/1/2034
|
9,572,000
|
9,370,976
|
|
Pool # BZ2226, 4.46%, 11/1/2034
|
9,223,395
|
9,170,613
|
|
Pool # BZ3308, 5.22%, 3/1/2035
|
9,946,581
|
10,266,522
|
|
Pool # BZ4215, 5.09%, 6/1/2035
|
4,620,000
|
4,751,486
|
|
Pool # BZ4219, 5.20%, 6/1/2035
|
10,883,559
|
11,217,456
|
|
Pool # BS5018, 2.88%, 10/1/2035
|
750,000
|
642,165
|
|
Pool # AN7345, 3.21%, 11/1/2037
|
580,872
|
516,574
|
|
Pool # MA1072, 3.50%, 5/1/2042
|
6,708
|
6,318
|
|
Pool # BF0163, 5.00%, 11/1/2046
|
5,973,287
|
6,055,791
|
|
Pool # BM7997, 3.00%, 8/1/2050
|
2,734,903
|
2,402,690
|
|
Pool # BF0533, 2.50%, 11/1/2050
|
953,381
|
817,553
|
|
Pool # BF0230, 5.50%, 1/1/2058
|
311,262
|
322,504
|
|
Pool # BF0300, 4.00%, 8/1/2058
|
4,419,601
|
4,173,004
|
|
Pool # BF0400, 4.00%, 8/1/2059
|
481,721
|
450,067
|
|
Pool # BF0440, 3.00%, 1/1/2060
|
3,990,368
|
3,460,657
|
|
Pool # BF0497, 3.00%, 7/1/2060
|
55,789
|
47,934
|
|
Pool # BF0520, 3.00%, 1/1/2061
|
2,366,464
|
2,033,179
|
|
Pool # BF0560, 2.50%, 9/1/2061
|
1,420,669
|
1,162,566
|
|
Pool # BF0562, 3.50%, 9/1/2061
|
685,962
|
615,965
|
|
Pool # BF0583, 4.00%, 12/1/2061
|
707,016
|
653,764
|
|
Pool # BF0586, 5.00%, 12/1/2061
|
619,429
|
612,574
|
|
Pool # BF0617, 2.50%, 3/1/2062
|
2,618,343
|
2,142,645
|
|
Pool # BF0759, 2.50%, 5/1/2062
|
6,638,192
|
5,432,155
|
|
Pool # BF0677, 4.00%, 9/1/2062
|
2,305,587
|
2,131,925
|
|
Pool # BF0736, 4.00%, 6/1/2063
|
15,881,798
|
14,685,529
|
|
Pool # BF0770, 4.50%, 9/1/2063
|
9,383,401
|
9,009,505
|
|
Pool # BF0787, 4.50%, 12/1/2063
|
12,669,580
|
12,211,785
|
|
Pool # BF0804, 3.00%, 4/1/2064
|
8,694,013
|
7,512,491
|
|
Pool # BF0808, 4.00%, 4/1/2064
|
15,778,918
|
14,839,521
|
|
FNMA/FHLMC UMBS, Single Family, 30 Year
|
|
|
|
TBA, 2.50%, 6/25/2056 (h)
|
202,700,000
|
169,579,272
|
|
TBA, 5.00%, 6/25/2056 (h)
|
263,700,000
|
259,412,433
|
|
TBA, 5.50%, 6/25/2056 (h)
|
154,000,000
|
154,679,676
|
|
GNMA I, 30 Year
|
|
|
|
Pool # 783473, 3.50%, 11/15/2041
|
3,413,166
|
3,164,568
|
|
Pool # 785994, 4.00%, 2/15/2052
|
7,148,730
|
6,693,281
|
|
Pool # CO1928, 5.50%, 10/15/2052
|
1,148,950
|
1,214,501
|
|
Pool # CR2369, 6.00%, 1/15/2053
|
1,612,972
|
1,734,682
|
|
GNMA II
|
|
|
|
Pool # CE9366, ARM, 5.24%, 10/20/2071 (f)
|
4,357,712
|
4,507,933
|
|
Pool # CH4945, ARM, 5.26%, 10/20/2071 (f)
|
6,597,617
|
6,820,757
|
|
Pool # CH7776, ARM, 5.36%, 10/20/2071 (f)
|
5,836,910
|
6,064,233
|
|
Pool # CJ7125, ARM, 5.41%, 10/20/2071 (f)
|
463,387
|
481,697
|
|
Pool # CJ7141, ARM, 5.35%, 11/20/2071 (f)
|
405,892
|
421,866
|
|
Pool # CE9384, ARM, 5.40%, 11/20/2071 (f)
|
720,373
|
750,474
|
|
Pool # CE5557, ARM, 5.54%, 11/20/2071 (f)
|
105,948
|
110,707
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # CK7234, ARM, 5.29%, 2/20/2072 (f)
|
6,598,371
|
6,844,429
|
|
Pool # CK2792, ARM, 5.52%, 3/20/2072 (f)
|
872,197
|
914,799
|
|
Pool # CO0363, ARM, 5.70%, 7/20/2072 (f)
|
757,148
|
802,555
|
|
GNMA II, 30 Year
|
|
|
|
Pool # AJ9020, 4.50%, 10/20/2044
|
30,470
|
29,417
|
|
Pool # BB3525, 4.00%, 9/20/2047
|
18,357
|
17,194
|
|
Pool # AY2413, 4.25%, 10/20/2048
|
1,310,871
|
1,245,141
|
|
Pool # BJ9820, 4.20%, 1/20/2049
|
808,494
|
753,926
|
|
Pool # BM2418, 4.00%, 8/20/2049
|
12,832
|
12,173
|
|
Pool # BN7049, 4.50%, 8/20/2049
|
106,854
|
104,229
|
|
Pool # BP7160, 4.50%, 9/20/2049
|
62,207
|
62,115
|
|
Pool # CH1162, 3.50%, 6/20/2050
|
207,264
|
193,879
|
|
Pool # BZ6343, 2.00%, 11/20/2050
|
2,845,673
|
2,299,623
|
|
Pool # CB8492, 3.50%, 1/20/2051
|
1,539,566
|
1,451,809
|
|
Pool # CB8531, 3.50%, 2/20/2051
|
676,336
|
627,331
|
|
Pool # CC9803, 4.00%, 4/20/2051
|
203,423
|
190,073
|
|
Pool # MA7534, 2.50%, 8/20/2051
|
3,411,112
|
2,919,979
|
|
Pool # CH1291, 3.50%, 9/20/2051
|
687,267
|
624,627
|
|
Pool # CH1293, 3.50%, 9/20/2051
|
2,437,360
|
2,257,338
|
|
Pool # CH1292, 3.50%, 10/20/2051
|
982,447
|
899,801
|
|
Pool # MA7705, 2.50%, 11/20/2051
|
4,718,442
|
4,040,449
|
|
Pool # MA7706, 3.00%, 11/20/2051
|
8,759,007
|
7,793,019
|
|
Pool # 787112, 2.50%, 12/20/2051
|
26,744,279
|
22,866,968
|
|
Pool # CH7863, 3.50%, 12/20/2051
|
622,794
|
564,686
|
|
Pool # CI2080, 3.50%, 12/20/2051
|
704,209
|
626,402
|
|
Pool # CH0876, 3.00%, 1/20/2052
|
78,801
|
70,231
|
|
Pool # CH0877, 3.00%, 1/20/2052
|
239,734
|
213,588
|
|
Pool # CH0878, 3.00%, 1/20/2052
|
223,653
|
198,981
|
|
Pool # CJ3916, 3.00%, 1/20/2052
|
626,782
|
571,185
|
|
Pool # CK2608, 3.00%, 1/20/2052
|
417,084
|
371,845
|
|
Pool # CK4909, 3.00%, 1/20/2052
|
84,902
|
75,536
|
|
Pool # CK4916, 3.00%, 1/20/2052
|
176,693
|
157,202
|
|
Pool # CJ8184, 3.50%, 1/20/2052
|
552,162
|
497,917
|
|
Pool # CK4918, 3.50%, 1/20/2052
|
60,848
|
55,176
|
|
Pool # CK7137, 4.00%, 1/20/2052
|
374,143
|
343,694
|
|
Pool # CU7310, 2.50%, 2/20/2052
|
21,927,111
|
18,666,075
|
|
Pool # CK2667, 3.00%, 2/20/2052
|
529,980
|
471,517
|
|
Pool # CK2672, 3.50%, 2/20/2052
|
549,853
|
498,167
|
|
Pool # MA7936, 2.50%, 3/20/2052
|
24,483,425
|
20,963,230
|
|
Pool # CM2154, 3.00%, 3/20/2052
|
668,405
|
593,418
|
|
Pool # CM2278, 3.50%, 4/20/2052
|
758,507
|
686,561
|
|
Pool # MA8097, 2.50%, 6/20/2052
|
37,755,865
|
32,327,293
|
|
Pool # CO4826, 5.00%, 6/20/2052
|
497,945
|
493,988
|
|
Pool # CU7301, 2.50%, 7/20/2052
|
22,033,084
|
18,674,611
|
|
Pool # MA8148, 3.00%, 7/20/2052
|
22,464,448
|
20,011,739
|
|
Pool # CO4847, 5.00%, 7/20/2052
|
751,653
|
745,679
|
|
Pool # MA8200, 4.00%, 8/20/2052
|
1,459,100
|
1,368,915
|
|
Pool # MA8264, 2.50%, 9/20/2052
|
8,238,880
|
7,065,338
|
|
Pool # CO1924, 4.50%, 10/20/2052
|
1,136,498
|
1,141,868
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Mortgage-Backed Securities — continued
|
||
|
Pool # CP8517, 4.50%, 10/20/2052
|
940,996
|
896,880
|
|
Pool # CO1925, 5.00%, 10/20/2052
|
944,345
|
972,853
|
|
Pool # MA8423, 2.50%, 11/20/2052
|
13,521,951
|
11,594,070
|
|
Pool # CO8957, 5.00%, 12/20/2052
|
5,708,853
|
5,600,270
|
|
Pool # MA8797, 3.50%, 4/20/2053
|
14,714,031
|
13,527,458
|
|
Pool # 786842, 4.00%, 4/20/2053
|
6,620,512
|
6,231,728
|
|
Pool # MA8873, 2.50%, 5/20/2053
|
13,994,635
|
11,996,443
|
|
Pool # CS4305, 5.50%, 6/20/2053
|
2,085,261
|
2,109,566
|
|
Pool # CV0175, 6.50%, 6/20/2053
|
969,396
|
1,035,883
|
|
Pool # MA9011, 2.50%, 7/20/2053
|
15,929,478
|
13,659,885
|
|
Pool # CS4391, 5.50%, 7/20/2053
|
2,542,954
|
2,572,594
|
|
Pool # CW7288, 6.50%, 9/20/2053
|
901,569
|
944,896
|
|
Pool # MA9299, 2.50%, 10/20/2053
|
7,521,510
|
6,451,879
|
|
Pool # MA9419, 3.50%, 1/20/2054
|
6,033,738
|
5,577,039
|
|
Pool # DD2409, 6.50%, 6/20/2054
|
861,326
|
894,793
|
|
Pool # MA9960, 3.00%, 10/20/2054
|
16,670,066
|
14,891,299
|
|
Pool # MB0142, 3.00%, 1/20/2055
|
8,871,149
|
7,895,190
|
|
Pool # DI1025, 5.50%, 8/20/2055
|
1,246,620
|
1,272,775
|
|
Pool # DI1026, 5.50%, 8/20/2055
|
1,480,384
|
1,509,633
|
|
Pool # DI1029, 6.00%, 8/20/2055
|
2,458,438
|
2,545,275
|
|
Pool # DL8784, 6.50%, 8/20/2055
|
4,822,691
|
5,115,690
|
|
Pool # DL8785, 6.50%, 8/20/2055
|
4,998,895
|
5,302,605
|
|
Pool # DL2982, 6.50%, 9/20/2055
|
5,946,161
|
6,379,143
|
|
Pool # MB0680, 2.50%, 10/20/2055
|
38,237,799
|
32,763,583
|
|
Pool # DN6001, 6.50%, 10/20/2055
|
7,116,128
|
7,484,077
|
|
Pool # 788620, 2.50%, 3/20/2056
|
41,132,090
|
35,327,802
|
|
GNMA II, Other
|
|
|
|
Pool # CN0983, 3.50%, 4/20/2062
|
12,004,168
|
10,705,459
|
|
Pool # 787496, 6.00%, 7/20/2064
|
2,545,724
|
2,603,273
|
|
Pool # 788087, 3.50%, 7/20/2065
|
10,960,168
|
9,970,834
|
|
Pool # 788066, 4.00%, 7/20/2065
|
17,349,091
|
16,254,623
|
|
Pool # 788509, 4.50%, 1/20/2066
|
14,966,639
|
14,337,147
|
|
GNMA II, Single Family, 30 Year TBA, 5.00%, 6/15/2056 (h)
|
31,025,000
|
30,634,661
|
|
Total Mortgage-Backed Securities
(Cost $2,523,409,878)
|
|
2,529,085,680
|
|
U.S. Treasury Obligations — 13.9%
|
||
|
U.S. Treasury Bonds
|
|
|
|
1.13%, 5/15/2040
|
8,454,000
|
5,308,848
|
|
1.13%, 8/15/2040
|
36,277,100
|
22,552,736
|
|
1.38%, 11/15/2040
|
29,720,000
|
19,088,134
|
|
2.25%, 5/15/2041
|
4,699,000
|
3,408,060
|
|
2.00%, 11/15/2041
|
22,600,000
|
15,561,336
|
|
3.13%, 11/15/2041
|
6,143,000
|
4,991,428
|
|
4.00%, 11/15/2042
|
54,417,400
|
48,922,518
|
|
3.63%, 8/15/2043
|
24,654,000
|
20,900,043
|
|
3.75%, 11/15/2043
|
15,228,000
|
13,100,244
|
|
4.75%, 11/15/2043
|
41,540,600
|
40,680,580
|
|
3.38%, 5/15/2044
|
14,050,000
|
11,393,672
|
|
2.50%, 2/15/2045
|
11,069,000
|
7,702,900
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
U.S. Treasury Obligations — continued
|
||
|
4.88%, 8/15/2045
|
52,600,000
|
51,940,445
|
|
3.00%, 2/15/2047
|
39,347,900
|
29,092,854
|
|
3.00%, 8/15/2048
|
27,741,200
|
20,173,054
|
|
3.38%, 11/15/2048
|
54,949,000
|
42,688,504
|
|
1.88%, 2/15/2051
|
2,622,000
|
1,442,305
|
|
2.38%, 5/15/2051
|
78,487,900
|
48,622,641
|
|
2.25%, 2/15/2052
|
6,775,000
|
4,039,858
|
|
2.88%, 5/15/2052
|
8,214,000
|
5,632,365
|
|
4.00%, 11/15/2052
|
129,635,000
|
110,068,217
|
|
3.63%, 2/15/2053
|
4,682,000
|
3,713,228
|
|
4.75%, 11/15/2053
|
70,725,000
|
67,959,542
|
|
4.50%, 11/15/2054
|
77,690,000
|
71,760,068
|
|
U.S. Treasury Notes
|
|
|
|
1.13%, 10/31/2026
|
36,764,000
|
36,361,535
|
|
0.50%, 8/31/2027
|
95,000,000
|
91,047,852
|
|
3.63%, 8/31/2029
|
399,565,000
|
394,102,195
|
|
4.13%, 11/30/2029
|
143,170,000
|
143,348,963
|
|
3.63%, 8/31/2030
|
82,535,000
|
80,948,781
|
|
3.88%, 3/31/2031
|
7,835,000
|
7,745,020
|
|
4.25%, 11/15/2034
|
99,550,400
|
98,683,222
|
|
4.63%, 2/15/2035
|
15,600,000
|
15,867,516
|
|
4.00%, 11/15/2035
|
128,790,000
|
124,564,078
|
|
U.S. Treasury STRIPS Bonds
|
|
|
|
4.69%, 5/15/2031 (k)
|
32,559,000
|
26,488,244
|
|
4.17%, 2/15/2034 (k)
|
4,986,000
|
3,563,521
|
|
5.23%, 5/15/2040 (k)
|
3,436,000
|
1,732,123
|
|
5.43%, 8/15/2040 (k)
|
27,517,340
|
13,651,885
|
|
5.13%, 11/15/2040 (k)
|
18,060,000
|
8,829,397
|
|
4.51%, 5/15/2041 (k)
|
10,019,000
|
4,747,483
|
|
4.99%, 8/15/2041 (k)
|
37,157,000
|
17,354,271
|
|
2.88%, 2/15/2042 (k)
|
1,065,000
|
482,632
|
|
5.20%, 11/15/2043 (k)
|
18,035,000
|
7,360,349
|
|
Total U.S. Treasury Obligations
(Cost $1,792,261,363)
|
|
1,747,622,647
|
|
Asset-Backed Securities — 13.9%
|
||
|
ACC Trust Series 2022-1, Class C, 3.24%, 10/20/2025 (a)
|
739,999
|
67,141
|
|
ACHD Trust Series 2025-DS1, Class B, 9.38%, 1/9/2034 (a)
|
2,800,000
|
2,833,836
|
|
ACREC LLC (Cayman Islands)
|
|
|
|
Series 2026-FL4, Class A, 5.08%, 1/18/2043 (a) (f)
|
1,000,000
|
999,996
|
|
Series 2026-FL4, Class AS, 5.23%, 1/18/2043 (a) (f)
|
5,000,000
|
4,992,460
|
|
Air Canada Pass-Through Trust (Canada) Series 2017-1, Class AA, 3.30%, 1/15/2030 (a)
|
308,000
|
293,068
|
|
Ajax Mortgage Loan Trust Series 2021-G, Class A, 5.87%, 6/25/2061 (a) (f)
|
3,495,878
|
3,498,210
|
|
American Airlines Pass-Through Trust Series 2015-2, Class A, 4.00%, 9/22/2027
|
142,078
|
139,469
|
|
American Credit Acceptance Receivables Trust
|
|
|
|
Series 2023-3, Class D, 6.82%, 10/12/2029 (a)
|
1,955,000
|
1,986,616
|
|
Series 2024-4, Class E, 7.19%, 4/12/2032 (a)
|
5,000,000
|
5,140,445
|
|
Series 2026-2, Class D, 5.18%, 6/8/2032 (a)
|
10,690,000
|
10,621,465
|
|
Series 2026-1, Class D, 5.10%, 1/12/2033 (a)
|
15,410,000
|
15,307,718
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
AMSR Trust
|
|
|
|
Series 2023-SFR2G, Class G1, 4.50%, 8/19/2028 ‡
|
3,000,000
|
2,626,881
|
|
Series 2021-SFR1, Class F, 3.60%, 6/17/2038 (a)
|
4,000,000
|
3,823,021
|
|
Series 2021-SFR3, Class C, 1.80%, 10/17/2038 (a)
|
1,900,000
|
1,874,943
|
|
Series 2022-SFR1, Class F, 6.02%, 3/17/2039 (a)
|
750,000
|
748,694
|
|
Series 2022-SFR3, Class D, 4.00%, 10/17/2039 (a)
|
2,120,000
|
2,071,197
|
|
Series 2022-SFR3, Class E1, 4.00%, 10/17/2039 (a)
|
1,400,000
|
1,364,366
|
|
Series 2022-SFR3, Class E2, 4.00%, 10/17/2039 (a)
|
3,504,000
|
3,405,871
|
|
Series 2022-SFR3, Class F, 4.00%, 10/17/2039 (a)
|
7,000,000
|
6,733,160
|
|
Series 2023-SFR1, Class E2, 4.00%, 4/17/2040 (a)
|
2,505,000
|
2,417,771
|
|
Series 2023-SFR1, Class F, 4.00%, 4/17/2040 (a)
|
7,750,000
|
7,361,944
|
|
Series 2023-SFR2, Class E1, 3.95%, 6/17/2040 (a)
|
3,300,000
|
3,170,247
|
|
Series 2025-SFR2, Class E1, 4.28%, 11/17/2042 (a)
|
6,580,000
|
6,174,939
|
|
Series 2026-SFR1, Class E, 3.78%, 4/17/2043 (a)
|
12,321,000
|
11,090,504
|
|
Aqua Finance Issuer Trust Series 2026-A, Class A, 4.76%, 4/17/2051 (a)
|
6,985,115
|
6,928,794
|
|
Aqua Finance Trust
|
|
|
|
Series 2019-A, Class B, 3.47%, 7/16/2040 (a)
|
86,920
|
84,600
|
|
Series 2020-AA, Class D, 7.15%, 7/17/2046 (a)
|
2,097,656
|
2,122,657
|
|
AutoNation Finance Trust Series 2025-1A, Class D, 5.63%, 9/10/2032 (a)
|
1,491,000
|
1,504,039
|
|
Avis Budget Rental Car Funding AESOP LLC
|
|
|
|
Series 2024-2A, Class C, 6.01%, 10/20/2028 (a)
|
1,200,000
|
1,211,093
|
|
Series 2023-4A, Class D, 7.31%, 6/20/2029 (a)
|
3,000,000
|
3,045,961
|
|
Series 2023-6A, Class D, 7.37%, 12/20/2029 (a)
|
8,250,000
|
8,374,835
|
|
Series 2024-1A, Class D, 7.20%, 6/20/2030 (a)
|
13,125,000
|
13,268,876
|
|
Series 2025-4A, Class C, 5.26%, 2/20/2032 (a)
|
8,265,000
|
8,035,619
|
|
Bastion Funding I LLC Series 2023-1A, Class A2, 7.12%, 4/25/2038 ‡ (a)
|
1,663,717
|
1,672,741
|
|
BG Beta Ltd. (Cayman Islands)
|
|
|
|
6.28%, 7/16/2054 ‡
|
3,763,500
|
3,768,020
|
|
7.12%, 7/16/2054 ‡
|
3,954,989
|
3,930,073
|
|
BRAVO Residential Funding Trust Series 2026-CES1, Class A1A, 5.25%, 4/25/2056 (a) (g)
|
6,555,000
|
6,544,961
|
|
Bridge Trust Series 2025-SFR1, Class E, 4.35%, 9/17/2042 (a)
|
6,008,644
|
5,526,707
|
|
Bridgecrest Lending Auto Securitization Trust
|
|
|
|
Series 2023-1, Class C, 7.10%, 8/15/2029
|
4,237,974
|
4,278,766
|
|
Series 2024-3, Class D, 5.83%, 5/15/2030
|
3,937,000
|
3,986,155
|
|
Series 2024-1, Class E, 8.43%, 10/15/2030 (a)
|
6,990,000
|
7,222,131
|
|
Series 2025-1, Class D, 5.64%, 11/15/2030
|
12,700,000
|
12,829,838
|
|
Series 2024-2, Class E, 8.21%, 1/15/2031 (a)
|
6,000,000
|
6,192,728
|
|
Series 2025-2, Class D, 5.62%, 3/17/2031
|
5,000,000
|
5,059,796
|
|
Series 2024-3, Class E, 7.70%, 4/15/2031 (a)
|
12,000,000
|
12,307,955
|
|
Series 2025-4, Class D, 5.41%, 8/15/2031
|
11,111,000
|
11,160,330
|
|
Series 2024-4, Class E, 7.47%, 8/15/2031 (a)
|
6,600,000
|
6,748,897
|
|
Series 2026-1, Class D, 4.99%, 11/17/2031
|
7,500,000
|
7,437,559
|
|
Series 2025-1, Class E, 7.46%, 2/17/2032 (a)
|
14,550,000
|
14,804,353
|
|
Series 2025-4, Class E, 7.18%, 11/15/2032 (a)
|
12,000,000
|
12,178,097
|
|
Business Jet Securities LLC
|
|
|
|
Series 2024-2A, Class B, 5.75%, 9/15/2039 ‡ (a)
|
10,888,789
|
10,774,598
|
|
Series 2024-2A, Class C, 7.97%, 9/15/2039 ‡ (a)
|
978,935
|
972,044
|
|
BXG Receivables Note Trust
|
|
|
|
Series 2020-A, Class C, 4.22%, 2/28/2036 (a)
|
719,677
|
713,110
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
Series 2022-A, Class A, 4.12%, 9/28/2037 (a)
|
1,656,005
|
1,641,030
|
|
Series 2023-A, Class C, 7.38%, 11/15/2038 (a)
|
791,891
|
803,539
|
|
CarMax Auto Owner Trust Series 2023-4, Class A3, 6.00%, 7/17/2028
|
344,489
|
347,356
|
|
Carvana Auto Receivables Trust
|
|
|
|
Series 2022-P1, Class A4, 3.52%, 2/10/2028
|
994,750
|
993,887
|
|
Series 2023-P2, Class A4, 5.38%, 3/12/2029 (a)
|
2,000,000
|
2,017,181
|
|
Series 2023-P3, Class A4, 5.71%, 7/10/2029 (a)
|
709,000
|
719,778
|
|
Series 2023-N3, Class C, 6.55%, 12/10/2029 (a)
|
3,489,000
|
3,517,305
|
|
Cascade MH Asset Trust
|
|
|
|
Series 2019-MH1, Class B, 5.00%, 11/25/2044 ‡ (a) (f)
|
401,843
|
377,574
|
|
Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (a)
|
550,583
|
502,429
|
|
Series 2021-MH1, Class B1, 4.57%, 2/25/2046 (a)
|
2,485,000
|
2,094,950
|
|
Series 2022-MH1, Class M, 4.25%, 8/25/2054 ‡ (a) (g)
|
817,396
|
656,029
|
|
Series 2024-MH1, Class B1, 7.50%, 11/25/2056 (a) (f)
|
2,402,000
|
2,487,204
|
|
Series 2024-MH1, Class B2, 8.34%, 11/25/2056 (a) (f)
|
2,414,000
|
2,400,595
|
|
Consumer Portfolio Services Auto Trust Series 2025-D, Class C, 4.85%, 2/17/2032 (a)
|
8,000,000
|
7,991,145
|
|
Continental Finance Credit Card ABS Master Trust Series 2025-A, Class A, 5.40%, 12/17/2035 (a)
|
5,000,000
|
4,982,686
|
|
CoreVest American Finance Trust
|
|
|
|
Series 2019-1, Class E, 5.65%, 3/15/2052 (a) (f)
|
551,000
|
546,675
|
|
Series 2019-2, Class E, 5.12%, 6/15/2052 (a) (f)
|
1,043,000
|
966,181
|
|
Series 2019-3, Class E, 4.70%, 10/15/2052 (a) (f)
|
570,000
|
522,098
|
|
CPS Auto Receivables Trust
|
|
|
|
Series 2022-D, Class D, 8.73%, 1/16/2029 (a)
|
1,000,000
|
1,021,662
|
|
Series 2023-A, Class D, 6.44%, 4/16/2029 (a)
|
668,118
|
676,809
|
|
Series 2023-D, Class C, 7.17%, 1/15/2030 (a)
|
2,630,170
|
2,649,235
|
|
Credit Acceptance Auto Loan Trust
|
|
|
|
Series 2022-3A, Class D, 9.00%, 4/18/2033 (a)
|
568,511
|
569,291
|
|
Series 2023-1A, Class C, 7.71%, 7/15/2033 (a)
|
1,675,000
|
1,691,330
|
|
Series 2023-2A, Class C, 7.15%, 9/15/2033 (a)
|
1,500,000
|
1,514,411
|
|
Series 2023-3A, Class C, 7.62%, 12/15/2033 (a)
|
2,700,000
|
2,754,415
|
|
Series 2023-5A, Class C, 7.30%, 4/17/2034 (a)
|
4,820,000
|
4,934,721
|
|
7.68%, 4/17/2034 ‡
|
5,000,000
|
5,025,000
|
|
Series 2026-1A, Class C, 5.28%, 8/15/2036 (a)
|
12,893,000
|
12,809,974
|
|
Credit One (Nigeria) 6.47%, 2/25/2029 ‡ (a)
|
5,000,000
|
4,997,000
|
|
D2 Multifamily Credit Issuer Ltd. (Cayman Islands)
|
|
|
|
Series 2026-FL1, Class AS, 5.31%, 11/19/2043 (a) (f)
|
15,845,000
|
15,864,264
|
|
Series 2026-FL1, Class B, 5.56%, 11/19/2043 (a) (f)
|
3,851,000
|
3,855,691
|
|
Dec
|
|
|
|
6.02%, 3/13/2030 ‡ (a)
|
11,000,000
|
11,000,000
|
|
6.91%, 1/15/2031 ‡ (a)
|
11,000,000
|
11,000,000
|
|
Deephaven Residential Mortgage Trust
|
|
|
|
Series 2025-CES1, Class A1A, 5.22%, 10/25/2055 (a) (g)
|
12,954,973
|
12,915,398
|
|
Series 2026-CES1, Class A1A, 5.31%, 3/25/2061 (a) (g)
|
18,718,879
|
18,646,231
|
|
DLLAA LLC Series 2023-1A, Class A3, 5.64%, 2/22/2028 (a)
|
627,521
|
632,201
|
|
DP Lion Holdco LLC Series 2023-1A, Class B, 12.73%, 11/30/2043
|
1,014,911
|
1,037,442
|
|
Drive Auto Receivables Trust
|
|
|
|
Series 2024-2, Class D, 4.94%, 5/17/2032
|
5,800,000
|
5,836,166
|
|
Series 2025-2, Class D, 4.90%, 12/15/2032
|
10,865,000
|
10,789,539
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
DT Auto Owner Trust
|
|
|
|
Series 2023-1A, Class D, 6.44%, 11/15/2028 (a)
|
1,413,396
|
1,427,178
|
|
Series 2023-2A, Class D, 6.62%, 2/15/2029 (a)
|
1,600,000
|
1,625,072
|
|
Series 2023-2A, Class E, 11.06%, 4/15/2030 (a)
|
3,000,000
|
3,146,643
|
|
Series 2023-3A, Class E, 10.21%, 5/15/2030 (a)
|
3,300,000
|
3,477,839
|
|
EJ Hugoton
|
|
|
|
Series 2026-1 B, 10.29%, 10/10/2041 ‡
|
14,000,000
|
14,000,000
|
|
Series 2026-1 B, 14.50%, 10/10/2041 ‡
|
8,000,000
|
8,000,000
|
|
Series 2026-1 B, 14.10%, 12/15/2041 ‡
|
4,700,000
|
4,700,000
|
|
Elara Hgv Timeshare Issuer LLC Series 2025-A, Class A, 4.54%, 1/25/2040 (a)
|
5,129,117
|
5,083,306
|
|
Elara HGV Timeshare Issuer LLC
|
|
|
|
Series 2021-A, Class C, 2.09%, 8/27/2035 (a)
|
141,628
|
135,613
|
|
Series 2021-A, Class D, 3.32%, 8/27/2035 (a)
|
50,582
|
48,413
|
|
Energy Assets 8.11%, 8/25/2044 ‡
|
1,346,474
|
1,354,031
|
|
Enterprise Fleet Financing LLC Series 2025-2, Class A4, 4.58%, 12/22/2031 (a)
|
6,720,000
|
6,743,687
|
|
EQV ABS Issuer LLC 10.76%, 12/15/2040 ‡
|
5,020,116
|
5,032,666
|
|
Exeter Automobile Receivables Trust
|
|
|
|
Series 2023-2A, Class C, 5.75%, 7/17/2028
|
158,752
|
158,982
|
|
Series 2022-3A, Class D, 6.76%, 9/15/2028
|
567,012
|
571,698
|
|
Series 2022-5A, Class D, 7.40%, 2/15/2029
|
647,772
|
656,019
|
|
Series 2022-6A, Class D, 8.03%, 4/6/2029
|
1,266,860
|
1,286,302
|
|
Series 2023-4A, Class D, 6.95%, 12/17/2029
|
1,205,000
|
1,227,601
|
|
Series 2024-2A, Class D, 5.92%, 2/15/2030
|
5,370,000
|
5,453,499
|
|
Series 2022-4A, Class E, 8.23%, 3/15/2030 (a)
|
1,000,000
|
1,016,931
|
|
Series 2024-1A, Class D, 5.84%, 6/17/2030
|
9,486,000
|
9,614,023
|
|
Series 2023-4A, Class E, 9.57%, 2/18/2031 (a)
|
1,120,000
|
1,199,503
|
|
Series 2026-1A, Class D, 5.00%, 5/17/2032
|
7,701,000
|
7,620,726
|
|
Series 2025-1A, Class E, 7.48%, 9/15/2032 (a)
|
13,000,000
|
13,435,439
|
|
Series 2025-4A, Class E, 6.99%, 4/15/2033 (a)
|
6,945,000
|
6,954,279
|
|
Series 2025-5A, Class E, 7.15%, 6/15/2033 (a)
|
2,132,000
|
2,138,796
|
|
Exeter Select Automobile Receivables Trust
|
|
|
|
Series 2025-1, Class B, 4.87%, 8/15/2031
|
3,500,000
|
3,507,108
|
|
Series 2025-1, Class C, 5.40%, 8/15/2031
|
1,800,000
|
1,815,134
|
|
Series 2025-3, Class C, 5.00%, 3/15/2032
|
5,000,000
|
5,003,885
|
|
FHF Issuer Trust Series 2023-2A, Class B, 7.49%, 11/15/2029 (a)
|
4,550,000
|
4,645,410
|
|
First Investors Auto Owner Trust Series 2023-1A, Class C, 6.81%, 12/17/2029 (a)
|
1,300,000
|
1,327,109
|
|
FirstKey Homes Trust
|
|
|
|
Series 2022-SFR3, Class F1, PO, 7/17/2038 ‡ (a)
|
7,000,000
|
6,950,467
|
|
Series 2022-SFR3, Class F2, PO, 7/17/2038 ‡ (a)
|
3,000,000
|
2,978,143
|
|
Series 2022-SFR3, Class D, 3.50%, 7/17/2038 (a)
|
1,250,000
|
1,245,353
|
|
Series 2022-SFR3, Class E1, 3.50%, 7/17/2038 (a)
|
4,500,000
|
4,482,689
|
|
Series 2021-SFR1, Class E1, 2.39%, 8/17/2038 (a)
|
500,000
|
496,528
|
|
Series 2021-SFR1, Class F1, 3.24%, 8/17/2038 (a)
|
1,668,000
|
1,658,133
|
|
Series 2021-SFR1, Class F2, 3.45%, 8/17/2038 (a)
|
4,712,000
|
4,684,858
|
|
Series 2021-SFR1, Class F3, 3.69%, 8/17/2038 (a)
|
5,000,000
|
4,972,146
|
|
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 (a)
|
635,000
|
629,025
|
|
Series 2021-SFR2, Class E2, 2.36%, 9/17/2038 (a)
|
814,000
|
806,358
|
|
Series 2021-SFR2, Class F2, 3.16%, 9/17/2038 (a)
|
7,886,000
|
7,805,804
|
|
Series 2022-SFR1, Class F1, PO, 5/19/2039 ‡ (a)
|
6,000,000
|
5,644,894
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
Series 2022-SFR1, Class F2, PO, 5/19/2039 ‡ (a)
|
2,600,000
|
2,444,982
|
|
Series 2022-SFR1, Class E1, 5.00%, 5/19/2039 (a)
|
3,165,000
|
3,131,486
|
|
Series 2022-SFR1, Class E2, 5.00%, 5/19/2039 (a)
|
3,094,000
|
3,052,803
|
|
FMC GMSR Issuer Trust
|
|
|
|
Series 2021-GT1, Class B, 4.36%, 7/25/2026 (a) (f)
|
1,900,000
|
1,843,025
|
|
Series 2024-SAT1, Class A, 6.50%, 3/26/2027 (a) (f)
|
6,900,000
|
6,837,527
|
|
Series 2022-GT1, Class A, 6.19%, 4/25/2027 (a)
|
7,000,000
|
7,004,042
|
|
Series 2022-GT1, Class B, 7.17%, 4/25/2027 (a)
|
600,000
|
600,979
|
|
Fortiva Retail Credit Master Note Business Trust
|
|
|
|
Series 2025-TWO, Class A, 5.92%, 5/15/2031 (a)
|
11,910,000
|
11,910,136
|
|
Series 2025-TWO, Class B, 6.90%, 5/15/2031 ‡ (a)
|
5,000,000
|
5,012,500
|
|
Foundation Finance Trust
|
|
|
|
Series 2021-1A, Class C, 2.99%, 5/15/2041 (a)
|
234,719
|
227,778
|
|
Series 2023-1A, Class D, 9.18%, 12/15/2043 (a)
|
1,207,657
|
1,282,690
|
|
Series 2024-1A, Class C, 6.53%, 12/15/2049 (a)
|
434,683
|
444,901
|
|
Series 2024-1A, Class D, 8.13%, 12/15/2049 (a)
|
3,919,269
|
4,082,094
|
|
FRTKL Series 2021-SFR1, Class D, 2.17%, 9/17/2038 (a)
|
1,000,000
|
989,492
|
|
FW Energy Asset Issuer LLC 7.15%, 8/25/2044 ‡
|
4,204,993
|
4,251,618
|
|
GGAM Master Trust International Ltd. (Cayman Islands) Series 2025-1A, Class Y, 9.70%,
9/30/2060 ‡ (a)
|
10,458,302
|
10,519,866
|
|
GLS Auto Receivables Issuer Trust
|
|
|
|
Series 2022-1A, Class D, 3.97%, 1/18/2028 (a)
|
837,915
|
837,660
|
|
Series 2021-2A, Class E, 2.87%, 5/15/2028 (a)
|
1,001,716
|
1,001,016
|
|
Series 2023-2A, Class E, 9.37%, 1/15/2030 (a)
|
2,000,000
|
2,104,482
|
|
Series 2023-1A, Class E, 11.42%, 3/15/2030 (a)
|
1,500,000
|
1,608,280
|
|
Series 2025-1A, Class D, 5.61%, 11/15/2030 (a)
|
1,700,000
|
1,722,979
|
|
Series 2025-2A, Class D, 5.59%, 1/15/2031 (a)
|
14,300,000
|
14,451,637
|
|
Series 2026-1A, Class D, 5.02%, 12/15/2031 (a)
|
17,463,000
|
17,296,251
|
|
Series 2026-2A, Class C, 4.90%, 1/15/2032 (a)
|
3,755,000
|
3,749,282
|
|
Series 2026-2A, Class D, 5.38%, 1/15/2032 (a)
|
4,145,000
|
4,153,228
|
|
Series 2025-1A, Class E, 7.19%, 3/15/2032 (a)
|
1,200,000
|
1,231,626
|
|
GLS Auto Select Receivables Trust
|
|
|
|
Series 2024-1A, Class B, 5.32%, 3/15/2030 (a)
|
1,000,000
|
1,009,646
|
|
Series 2024-1A, Class C, 5.69%, 3/15/2030 (a)
|
300,000
|
305,125
|
|
Series 2024-1A, Class D, 6.43%, 1/15/2031 (a)
|
705,000
|
723,931
|
|
GoodLeap Home Improvement Solutions Trust
|
|
|
|
Series 2025-1A, Class A, 5.38%, 2/20/2049 (a)
|
5,444,000
|
5,442,579
|
|
Series 2025-3A, Class A, 5.00%, 10/20/2049 (a)
|
8,604,434
|
8,514,775
|
|
Grit Parent, Inc. 10.00%, 3/27/2030 ‡
|
25,000,000
|
24,750,000
|
|
GS Mortgage-Backed Securities Trust
|
|
|
|
Series 2026-CES1, Class A1, 4.90%, 5/25/2056 (a) (g)
|
10,024,502
|
9,939,448
|
|
Series 2026-CES2, Class A1A, 5.23%, 6/25/2056 (a) (g)
|
19,516,838
|
19,435,529
|
|
Series 2025-SL1, Class A1, 5.85%, 11/25/2067 (a) (f)
|
12,642,365
|
12,709,641
|
|
HERO Funding (Cayman Islands) Series 2018-2A, Class A2, 4.02%, 9/20/2049 ‡
|
3,847,558
|
3,623,085
|
|
Hertz Vehicle Financing LLC Series 2023-3A, Class A, 5.94%, 2/25/2028 (a)
|
1,397,000
|
1,408,126
|
|
Hilton Grand Vacations Trust
|
|
|
|
Series 2022-1D, Class D, 6.79%, 6/20/2034 (a)
|
78,739
|
78,755
|
|
Series 2022-2A, Class D, 8.73%, 1/25/2037 (a)
|
160,986
|
164,953
|
|
Series 2020-AA, Class C, 6.42%, 2/25/2039 (a)
|
66,073
|
66,421
|
|
Series 2024-1B, Class D, 8.85%, 9/15/2039 (a)
|
1,439,040
|
1,478,988
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
Series 2026-1A, Class D, 7.21%, 2/25/2043 (a)
|
4,688,987
|
4,685,552
|
|
Series 2025-3EXT, Class D, 7.38%, 10/25/2044 (a)
|
4,141,288
|
4,154,566
|
|
HINNT LLC
|
|
|
|
Series 2022-A, Class D, 6.50%, 5/15/2041 (a)
|
218,985
|
217,182
|
|
Series 2022-A, Class E, 8.00%, 5/15/2041 (a)
|
857,491
|
844,863
|
|
Series 2024-A, Class D, 7.00%, 3/15/2043 (a)
|
970,812
|
968,570
|
|
Series 2024-A, Class E, 8.00%, 3/15/2043 (a)
|
1,052,360
|
1,029,024
|
|
Series 2025-A, Class D, 8.22%, 3/15/2044 (a)
|
1,873,668
|
1,910,517
|
|
Home Partners of America Trust
|
|
|
|
Series 2021-2, Class D, 2.65%, 12/17/2026 (a)
|
9,593,450
|
9,453,523
|
|
Series 2021-2, Class F, 3.80%, 12/17/2026 (a)
|
10,264,991
|
10,141,713
|
|
Series 2022-1, Class D, 4.73%, 4/17/2039 (a)
|
3,327,196
|
3,295,604
|
|
Series 2019-2, Class A, 2.70%, 10/19/2039 (a)
|
307,404
|
304,028
|
|
Series 2021-3, Class D, 3.00%, 1/17/2041 (a)
|
3,758,658
|
3,515,202
|
|
Huntington Bank Auto Credit-Linked Notes Series 2025-2, Class B1, 4.84%, 9/20/2033 (a)
|
12,894,577
|
12,887,511
|
|
Identity Digital Capital LLC 6.79%, 3/20/2065 ‡
|
6,000,000
|
5,976,000
|
|
Invitation Homes Trust
|
|
|
|
Series 2024-SFR1, Class B, 4.00%, 9/17/2041 (a)
|
4,195,000
|
4,034,662
|
|
Series 2024-SFR1, Class E, 4.50%, 9/17/2041 (a)
|
5,580,000
|
5,329,055
|
|
Ista Jet Seri 6.97%, 4/5/2032 ‡ (a)
|
12,837,500
|
12,837,500
|
|
JBHP 10.28%, 4/14/2041 ‡
|
7,000,000
|
7,000,000
|
|
John Deere Owner Trust Series 2023-B, Class A4, 5.11%, 5/15/2030
|
2,200,000
|
2,215,215
|
|
Jonah Energy ABS LLC
|
|
|
|
Series 2024-1A, Class B, 11.24%, 8/10/2039 ‡ (a)
|
3,831,288
|
3,830,521
|
|
Series 2022-1, Class C, 12.66%, 8/10/2039 ‡ (a)
|
8,000,000
|
8,023,200
|
|
Series 2025-1A, Class A2, 7.36%, 12/10/2040 (a)
|
7,333,561
|
7,309,360
|
|
Series 2025-1A, Class B, 11.25%, 12/10/2040 (a)
|
4,219,625
|
4,212,874
|
|
Lending Funding Trust
|
|
|
|
Series 2020-2A, Class A, 2.32%, 4/21/2031 (a)
|
1,605,810
|
1,591,410
|
|
Series 2020-2A, Class D, 6.77%, 4/21/2031 (a)
|
4,000,000
|
4,001,640
|
|
Lendingpoint Asset Securitization Trust Series 2022-A, Class D, 4.54%, 6/15/2029 (a)
|
309,687
|
125,004
|
|
Lendmark Funding Trust
|
|
|
|
Series 2021-1A, Class A, 1.90%, 11/20/2031 (a)
|
816,189
|
801,403
|
|
Series 2021-1A, Class D, 5.05%, 11/20/2031 (a)
|
4,370,000
|
4,189,160
|
|
Series 2021-2A, Class B, 2.37%, 4/20/2032 (a)
|
1,545,000
|
1,458,952
|
|
Series 2021-2A, Class D, 4.46%, 4/20/2032 (a)
|
8,300,000
|
7,777,838
|
|
Series 2024-2A, Class E, 8.47%, 2/21/2034 (a)
|
7,303,000
|
7,437,483
|
|
Series 2025-1A, Class E, 8.91%, 9/20/2034 (a)
|
4,745,000
|
4,904,064
|
|
Series 2026-1A, Class D, 5.90%, 11/20/2035 (a)
|
4,000,000
|
3,976,731
|
|
Liberty 7.25%, 5/14/2031 ‡
|
40,000,000
|
40,033,214
|
|
Mariner Finance issuance Trust Series 2024-BA, Class E, 8.80%, 11/20/2038 (a)
|
6,480,000
|
6,708,919
|
|
Mariner Finance Issuance Trust
|
|
|
|
Series 2021-AA, Class B, 2.33%, 3/20/2036 (a)
|
1,300,000
|
1,262,538
|
|
Series 2021-AA, Class C, 2.96%, 3/20/2036 (a)
|
370,000
|
357,630
|
|
Series 2021-AA, Class D, 3.83%, 3/20/2036 (a)
|
651,000
|
629,976
|
|
Series 2021-AA, Class E, 5.40%, 3/20/2036 (a)
|
6,040,000
|
5,821,615
|
|
Series 2021-BA, Class E, 4.68%, 11/20/2036 (a)
|
7,815,000
|
7,330,239
|
|
Series 2025-BA, Class E, 7.51%, 11/22/2038 (a)
|
3,155,000
|
3,132,047
|
|
Series 2026-AA, Class D, 6.16%, 5/20/2039 (a)
|
3,425,000
|
3,443,396
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
Merchants Fleet Funding LLC Series 2023-1A, Class A, 7.21%, 5/20/2036 (a)
|
685,536
|
689,188
|
|
Mercury Financial Credit Card Master Trust
|
|
|
|
Series 2025-1A, Class C, 8.29%, 12/22/2031 (a)
|
7,500,000
|
7,453,282
|
|
Series 2026-1A, Class C, 8.45%, 2/20/2032 (a)
|
12,000,000
|
11,884,579
|
|
Series 2026-1A, Class D, 11.85%, 2/20/2032 (a)
|
12,000,000
|
11,889,919
|
|
Series 2026-2A, Class E, 8.47%, 6/21/2032 (a)
|
9,789,000
|
9,828,929
|
|
Midcon Energy Asset Issuer LLC
|
|
|
|
5.31%, 2/27/2051 ‡ (f)
|
10,000,000
|
10,000,000
|
|
6.53%, 2/27/2051 ‡
|
4,908,515
|
4,908,515
|
|
Mission Lane Credit Card Master Trust Series 2025-B, Class A, 5.06%, 9/15/2031 (a)
|
5,825,000
|
5,823,199
|
|
Mpire Frn
|
|
|
|
Series 2026, 8.29%, 9/13/2030 ‡ (a)
|
6,993,938
|
7,013,731
|
|
Series 2026, 11.16%, 9/19/2030 ‡ (a)
|
2,797,574
|
2,805,491
|
|
MVW LLC
|
|
|
|
Series 2020-1A, Class C, 4.21%, 10/20/2037 (a)
|
37,849
|
37,774
|
|
Series 2020-1A, Class D, 7.14%, 10/20/2037 (a)
|
378,491
|
379,178
|
|
Series 2023-1A, Class C, 6.54%, 10/20/2040 (a)
|
955,742
|
974,368
|
|
Series 2022-2A, Class C, 7.62%, 10/21/2041 (a)
|
274,277
|
280,858
|
|
Series 2022-2A, Class D, 9.00%, 10/21/2041 (a)
|
665,945
|
677,627
|
|
NALP Business Loan Trust
|
|
|
|
Series 2026-1, Class A, 5.72%, 6/26/2051 (a)
|
8,352,082
|
8,272,394
|
|
Series 2026-1, Class B, 7.18%, 6/26/2051 (a)
|
1,885,812
|
1,888,911
|
|
New Residential Mortgage Loan Trust
|
|
|
|
Series 2022-SFR1, Class D, 3.30%, 2/17/2039 (a)
|
340,000
|
333,563
|
|
Series 2022-SFR1, Class E1, 3.55%, 2/17/2039 (a)
|
420,000
|
412,328
|
|
Series 2022-SFR1, Class F, 4.44%, 2/17/2039 (a)
|
5,650,000
|
5,562,647
|
|
Nexgen, Inc.0.00, 11/16/2033‡ (f)
|
12,342,446
|
12,327,018
|
|
Nexus Nova 6.50%, 11/8/2028 ‡
|
11,000,000
|
11,000,330
|
|
NRZ Excess Spread-Collateralized Notes Series 2021-GNT1, Class A, 3.47%, 11/25/2026 (a)
|
759,791
|
752,268
|
|
Octane Receivables Trust
|
|
|
|
Series 2022-2A, Class C, 6.29%, 7/20/2028 (a)
|
696,020
|
697,611
|
|
Series 2022-2A, Class D, 7.70%, 2/20/2030 (a)
|
2,000,000
|
2,032,376
|
|
Series 2024-1A, Class D, 6.43%, 10/21/2030 (a)
|
3,000,000
|
3,068,844
|
|
OneMain Direct Auto Receivables Trust Series 2026-1A, Class D, 5.30%, 10/14/2036 (a)
|
12,000,000
|
11,862,644
|
|
Oneslt 8.00%, 12/15/2030 ‡
|
5,393,706
|
5,393,706
|
|
Oportun Funding Trust Series 2024-3, Class B, 5.48%, 8/15/2029 (a)
|
1,069,700
|
1,070,125
|
|
Oportun Issuance Trust
|
|
|
|
Series 2021-B, Class B, 1.96%, 5/8/2031 (a)
|
43,174
|
42,568
|
|
Series 2021-B, Class C, 3.65%, 5/8/2031 (a)
|
562,882
|
558,361
|
|
Series 2021-C, Class A, 2.18%, 10/8/2031 (a)
|
763,433
|
753,538
|
|
Series 2024-2, Class D, 10.47%, 2/9/2032 (a)
|
7,500,000
|
7,631,584
|
|
Series 2026-A, Class C, 5.45%, 1/9/2034 (a)
|
8,108,000
|
8,086,171
|
|
Pagaya AI Technology in Housing Trust Series 2023-1, Class E2, 3.60%, 10/25/2040 (a)
|
8,159,000
|
7,495,922
|
|
PFP Ltd. (Cayman Islands) Series 2026-14, Class AS, 5.30%, 12/18/2043 (a) (f) (h)
|
5,000,000
|
5,000,000
|
|
Piper ABS Issuer I LLC Series 2025-1A, Class B, 9.81%, 1/15/2046 ‡
|
7,551,213
|
7,551,213
|
|
Porsche Financial Auto Securitization Trust
|
|
|
|
Series 2023-1A, Class A3, 4.81%, 9/22/2028 (a)
|
195,434
|
195,750
|
|
Series 2023-2A, Class A3, 5.79%, 1/22/2029 (a)
|
123,905
|
124,585
|
|
PRET Trust Series 2026-RN1, Class A1, 5.92%, 6/25/2066 (a) (g) (h)
|
25,000,000
|
24,999,967
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
Progress Residential Trust
|
|
|
|
Series 2022-SFR2, Class E2, 4.80%, 4/17/2027 (a)
|
651,000
|
641,008
|
|
Series 2021-SFR5, Class E1, 2.21%, 7/17/2038 (a)
|
950,000
|
945,757
|
|
Series 2021-SFR5, Class E2, 2.36%, 7/17/2038 (a)
|
270,000
|
268,808
|
|
Series 2021-SFR8, Class E1, 2.38%, 10/17/2038 (a)
|
2,650,000
|
2,621,862
|
|
Series 2021-SFR8, Class F, 3.18%, 10/17/2038 (a)
|
3,880,000
|
3,845,008
|
|
Series 2022-SFR3, Class D, 4.45%, 4/17/2039 (a)
|
1,090,000
|
1,080,179
|
|
Series 2022-SFR3, Class E2, 5.60%, 4/17/2039 (a)
|
4,160,000
|
4,146,365
|
|
Series 2022-SFR3, Class F, 6.60%, 4/17/2039 (a)
|
665,000
|
664,270
|
|
Series 2021-SFR7, Class E1, 2.59%, 8/17/2040 (a)
|
793,000
|
744,905
|
|
Series 2023-SFR2, Class E1, 4.75%, 10/17/2040 (a)
|
3,769,000
|
3,673,444
|
|
Series 2021-SFR9, Class F, 4.05%, 11/17/2040 (a)
|
10,450,000
|
10,069,843
|
|
Series 2022-SFR1, Class E2, 3.99%, 2/17/2041 (a)
|
5,750,000
|
5,495,611
|
|
Series 2022-SFR1, Class F, 4.88%, 2/17/2041 (a)
|
10,750,000
|
10,372,050
|
|
Series 2024-SFR2, Class D, 3.40%, 4/17/2041 (a) (f)
|
3,434,000
|
3,234,503
|
|
Series 2024-SFR2, Class E1, 3.40%, 4/17/2041 (a) (f)
|
4,136,000
|
3,880,126
|
|
Series 2024-SFR5, Class E1, 3.38%, 8/17/2041 (a) (f)
|
9,905,000
|
9,117,306
|
|
Series 2025-SFR2, Class E1, 3.72%, 4/17/2042 (a) (f)
|
4,869,514
|
4,516,067
|
|
Series 2025-SFR3, Class C, 3.39%, 7/17/2042 (a)
|
963,000
|
894,068
|
|
Series 2026-SFR1, Class B, 4.00%, 2/17/2043 (a)
|
8,000,000
|
7,547,178
|
|
Series 2026-SFR1, Class D, 4.00%, 2/17/2043 (a)
|
5,925,000
|
5,490,058
|
|
Series 2026-SFR2, Class D, 4.32%, 5/17/2043 (a)
|
10,250,000
|
9,622,869
|
|
Prometheus 0.00%, 9/12/2029 ‡
|
14,200,000
|
14,058,000
|
|
Purchasing Power Funding LLC Series 2026-A, Class C, 5.25%, 8/15/2030 (a)
|
6,998,000
|
6,931,380
|
|
Purewest ABS Issuer LLC
|
|
|
|
Series 2025-1, Class A2, 6.53%, 4/5/2040 ‡ (a)
|
5,925,608
|
5,902,498
|
|
Series 2025-1, Class B, 10.28%, 4/5/2040 ‡ (a)
|
9,838,153
|
9,838,153
|
|
RCKT Mortgage Trust
|
|
|
|
Series 2026-CES2, Class A1A, 4.76%, 2/25/2056 (a) (g)
|
16,259,610
|
16,088,308
|
|
Series 2026-CES4, Class A1A, 5.12%, 4/25/2056 (a) (g)
|
13,362,491
|
13,323,485
|
|
Reach ABS Trust
|
|
|
|
Series 2025-2A, Class C, 5.69%, 8/18/2032 (a)
|
10,563,000
|
10,580,991
|
|
Series 2025-2A, Class D, 7.31%, 8/18/2032 (a)
|
1,000,000
|
1,026,603
|
|
Series 2026-1A, Class D, 5.16%, 2/15/2033 (a)
|
10,910,000
|
10,753,714
|
|
Series 2026-2A, Class D, 5.67%, 2/15/2035 (a)
|
8,945,000
|
8,959,791
|
|
ReadyCap Lending Small Business Loan Trust Series 2019-2, Class A, 6.25%, 12/27/2044 (a) (f)
|
6,888
|
6,889
|
|
Regional Management Issuance Trust Series 2022-1, Class B, 3.71%, 3/15/2032 (a)
|
610,982
|
610,090
|
|
Renew
|
|
|
|
Series 2023-1A, Class A, 5.90%, 11/20/2058 (a)
|
2,453,176
|
2,469,354
|
|
Series 2024-2A, Class B, 8.22%, 11/20/2060 (a)
|
1,410,065
|
1,407,688
|
|
Research-Driven Pagaya Motor Asset Trust Series 2026-3A, Class A4, 5.88%, 3/26/2035 (a)
|
8,830,000
|
8,866,663
|
|
Research-Driven Pagaya Motor Trust Series 2025-5A, Class A3, 4.84%, 6/26/2034 (a)
|
16,000,000
|
15,948,328
|
|
Revolution III Abs LLC
|
|
|
|
6.18%, 3/28/2046 ‡
|
5,183,381
|
5,183,381
|
|
9.76%, 3/28/2046 ‡
|
4,813,219
|
4,813,219
|
|
RKTL Series 2026-1A, Class C, 4.64%, 2/26/2035 (a)
|
5,200,000
|
5,134,307
|
|
Santander Bank Auto Credit-Linked Notes Series 2024-B, Class F, 8.88%, 1/18/2033 (a)
|
3,202,582
|
3,261,361
|
|
Santander Drive Auto Receivables Trust
|
|
|
|
Series 2022-4, Class C, 5.00%, 11/15/2029
|
3,046,165
|
3,054,914
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
Series 2023-2, Class C, 5.47%, 12/16/2030
|
1,409,929
|
1,422,779
|
|
Series 2022-5, Class D, 5.67%, 12/16/2030
|
5,338,269
|
5,369,026
|
|
Series 2022-6, Class D, 5.69%, 2/18/2031
|
6,200,000
|
6,240,022
|
|
Series 2025-3, Class D, 5.11%, 9/15/2031
|
4,800,000
|
4,802,544
|
|
Series 2024-4, Class D, 5.32%, 12/15/2031
|
2,230,000
|
2,244,631
|
|
Series 2026-1, Class D, 4.75%, 4/15/2032
|
17,119,000
|
16,871,333
|
|
Santander Mortgage Asset Receivable Trust Series 2026-CES1, Class A1A, 4.88%, 1/25/2056 (a) (g)
|
9,613,456
|
9,500,974
|
|
SCF Equipment Leasing LLC
|
|
|
|
Series 2023-1A, Class B, 6.37%, 5/20/2032 (a)
|
4,000,000
|
4,066,046
|
|
Series 2024-1A, Class D, 6.58%, 6/21/2033 (a)
|
3,322,000
|
3,407,041
|
|
Series 2024-1A, Class E, 9.00%, 12/20/2034 (a)
|
4,300,000
|
4,539,836
|
|
Series 2025-2A, Class E, 6.21%, 6/20/2036 (a)
|
9,235,000
|
9,057,001
|
|
Series 2023-1A, Class E, 7.00%, 7/21/2036 (a)
|
5,400,000
|
5,493,761
|
|
Sierra Timeshare Receivables Funding LLC
|
|
|
|
Series 2022-1A, Class D, 6.00%, 10/20/2038 (a)
|
96,300
|
96,305
|
|
Series 2022-3A, Class D, 10.52%, 7/20/2039 (a)
|
162,710
|
168,488
|
|
Series 2023-1A, Class D, 9.80%, 1/20/2040 (a)
|
613,033
|
639,929
|
|
Series 2023-2A, Class D, 9.72%, 4/20/2040 (a)
|
299,645
|
312,819
|
|
Series 2022-2A, Class D, 9.22%, 6/20/2040 (a)
|
100,624
|
102,421
|
|
Series 2024-2A, Class D, 7.48%, 6/20/2041 (a)
|
1,021,414
|
1,027,664
|
|
Series 2024-3A, Class D, 6.93%, 8/20/2041 (a)
|
822,102
|
822,144
|
|
Series 2026-1A, Class D, 7.10%, 12/22/2042 (a)
|
13,036,077
|
12,946,433
|
|
Series 2025-2A, Class D, 6.79%, 4/20/2044 (a)
|
2,427,299
|
2,417,565
|
|
Series 2025-3A, Class D, 6.54%, 8/22/2044 (a)
|
1,707,308
|
1,686,076
|
|
SpringCastle America Funding LLC Series 2020-AA, Class A, 1.97%, 9/25/2037 (a)
|
227,231
|
213,995
|
|
SRT Issuer I LLC 0.00%, 7/7/2031 ‡ (f)
|
15,000,000
|
14,981,250
|
|
SRT Issuer LLC 0.00%, 12/7/2031 ‡ (f)
|
15,000,000
|
15,006,565
|
|
STAR Trust
|
|
|
|
Series 2025-SFR5, Class A, 5.08%, 2/17/2042 (a) (f)
|
6,482,445
|
6,470,333
|
|
Series 2025-SFR5, Class B, 5.38%, 2/17/2042 (a) (f)
|
4,000,000
|
3,992,527
|
|
Series 2025-SFR5, Class C, 5.58%, 2/17/2042 (a) (f)
|
1,000,000
|
998,234
|
|
Stream Innovations Issuer Trust
|
|
|
|
Series 2026-1A, Class B, 5.27%, 8/15/2046 (a)
|
5,738,000
|
5,669,753
|
|
Series 2026-1A, Class C, 6.05%, 8/15/2046 (a)
|
2,000,000
|
1,983,686
|
|
Series 2026-1A, Class D, 8.18%, 8/15/2046 (a)
|
2,350,000
|
2,339,303
|
|
Towd Point Mortgage Trust
|
|
|
|
Series 2026-FIX1, Class A1, 4.98%, 12/25/2065 (a) (g)
|
17,738,686
|
17,607,088
|
|
Series 2026-CES1, Class A1, 4.96%, 1/25/2066 (a) (g)
|
13,293,124
|
13,198,063
|
|
Series 2026-CES2, Class A1A, 4.72%, 2/25/2066 (a) (g)
|
9,041,818
|
8,924,111
|
|
Tricon American Homes Series 2020-SFR1, Class E, 3.54%, 7/17/2038 (a)
|
300,000
|
298,955
|
|
Tricon Residential Trust Series 2025-SFR1, Class C, 5.23%, 3/17/2042 (a) (f)
|
5,750,000
|
5,744,911
|
|
Truist Bank Auto Credit-Linked Notes Series 2025-1, Class B, 4.73%, 9/26/2033 (a)
|
4,283,466
|
4,277,701
|
|
Ucielo 2025-assi 10.51%, 8/9/2033 ‡
|
212,500
|
212,500
|
|
Ucielo 2025-assic 8.01%, 8/9/2033 ‡
|
62,500
|
62,500
|
|
United Airlines Pass-Through Trust
|
|
|
|
Series 2014-2, Class A, 3.75%, 9/3/2026
|
460,452
|
459,436
|
|
Series 2018-1, Class A, 3.70%, 3/1/2030
|
9,314
|
8,911
|
|
Series 2024-1, Class AA, 5.45%, 2/15/2037
|
1,815,588
|
1,859,171
|
|
United Auto Credit Securitization Trust Series 2022-2, Class E, 10.00%, 4/10/2029 (a)
|
1,000,000
|
420,243
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Asset-Backed Securities — continued
|
||
|
UOG ABS Issuer LLC Series 2023-1, Class A1, 8.35%, 6/5/2040 ‡ (a)
|
624,433
|
639,544
|
|
Upstart Frn Series 2025-TE, 6.80%, 3/29/2029 ‡ (a)
|
7,000,000
|
6,991,250
|
|
Upstart Securitization Trust
|
|
|
|
Series 2025-1, Class A, 5.45%, 4/20/2035 (a)
|
2,599,041
|
2,612,743
|
|
Series 2025-3, Class D, 7.41%, 9/20/2035 (a)
|
4,000,000
|
4,069,737
|
|
UPSTART Securitization Trust Series 2026-1, Class B, 4.98%, 3/20/2036 (a)
|
8,927,000
|
8,896,092
|
|
US Auto Funding Trust
|
|
|
|
Series 2022-1A, Class B, 5.13%, 12/15/2026 ‡ (a)
|
607,695
|
188,771
|
|
Series 2022-1A, Class D, 9.14%, 7/15/2027 ‡ (a)
|
1,000,000
|
10
|
|
US Bank NA Series 2026-RVM1, Class B1, 4.96%, 12/25/2046 (a)
|
9,263,691
|
9,138,451
|
|
Veros Auto Receivables Trust Series 2026-1, Class C, 5.22%, 7/15/2031 (a)
|
4,930,000
|
4,922,830
|
|
VistaJet Pass Through Trust Series 2021-1C, 9.50%, 8/15/2031 ‡ (a)
|
5,390,000
|
5,268,140
|
|
VOLT CII LLC Series 2021-NP11, Class A1, 5.87%, 8/25/2051 (a) (g)
|
203,805
|
203,840
|
|
Westgate Resorts LLC
|
|
|
|
Series 2023-1A, Class C, 7.49%, 12/20/2037 (a)
|
1,260,786
|
1,281,935
|
|
Series 2026-1A, Class D, 7.99%, 10/20/2039 (a)
|
8,178,462
|
8,178,291
|
|
Westlake Automobile Receivables Trust
|
|
|
|
Series 2022-2A, Class D, 5.48%, 9/15/2027 (a)
|
183,735
|
183,996
|
|
Series 2023-3A, Class C, 6.02%, 9/15/2028 (a)
|
1,738,732
|
1,746,583
|
|
Series 2023-1A, Class D, 6.79%, 11/15/2028 (a)
|
905,000
|
917,036
|
|
Series 2023-2A, Class D, 7.01%, 11/15/2028 (a)
|
1,159,177
|
1,172,414
|
|
Series 2023-4A, Class D, 7.19%, 7/16/2029 (a)
|
3,500,000
|
3,590,595
|
|
Series 2024-3A, Class C, 4.92%, 11/15/2029 (a)
|
7,000,000
|
7,032,502
|
|
Series 2025-3A, Class C, 4.68%, 7/15/2031 (a)
|
5,809,000
|
5,800,277
|
|
Wolf Energy Asset Issuer LLC 5.70%, 7/25/2050 ‡
|
5,238,518
|
5,238,518
|
|
Total Asset-Backed Securities
(Cost $1,735,598,540)
|
|
1,745,470,963
|
|
Commercial Mortgage-Backed Securities — 7.4%
|
||
|
BAMLL Re-REMIC Trust
|
|
|
|
Series 2024-FRR3, Class D, 0.55%, 1/27/2050 ‡ (a) (f)
|
11,563,000
|
11,016,126
|
|
Series 2024-FRR3, Class C, 0.62%, 1/27/2050 ‡ (a) (f)
|
11,000,000
|
10,589,568
|
|
Series 2024-FRR2, Class D, 1.21%, 7/27/2050 ‡ (a) (f)
|
7,830,000
|
7,343,929
|
|
Series 2025-FRR5, Class DK73, 1.01%, 2/27/2051 ‡ (a) (f)
|
4,000,000
|
3,596,156
|
|
Series 2025-FRR5, Class CK73, 1.02%, 2/27/2051 ‡ (a) (f)
|
4,000,000
|
3,658,590
|
|
Series 2025-FRR5, Class CK86, PO, 11/27/2051 (a)
|
4,000,000
|
3,399,112
|
|
Series 2025-FRR5, Class DK86, PO, 11/27/2051 (a)
|
4,000,000
|
3,301,532
|
|
Series 2025-FRR5, Class C736, 1.26%, 9/27/2052 ‡ (a) (f)
|
4,000,000
|
3,963,737
|
|
Series 2025-FRR5, Class D736, 1.26%, 9/27/2052 ‡ (a) (f)
|
4,000,000
|
3,957,242
|
|
Banc of America Re-REMIC Trust
|
|
|
|
Series 2024-FRR1, Class B, 0.00%, 4/27/2049 ‡ (a)
|
5,000,000
|
3,695,729
|
|
Series 2024-FRR1, Class C, 0.00%, 4/27/2049 ‡ (a)
|
7,128,000
|
4,835,381
|
|
Series 2024-FRR1, Class A, 2.06%, 4/27/2049 ‡ (a) (f)
|
3,000,000
|
2,411,512
|
|
BMD2 Re-Remic Trust Series 2019-FRR1, Class 6B10, 2.34%, 5/25/2052 ‡ (a) (f)
|
11,219,000
|
9,782,050
|
|
BMD2 Re-REMIC Trust
|
|
|
|
Series 2019-FRR1, Class 4C, PO, 5/25/2052 ‡ (a)
|
14,786,000
|
12,523,625
|
|
Series 2019-FRR1, Class 4D1, PO, 5/25/2052 ‡ (a)
|
9,786,000
|
7,426,967
|
|
Series 2019-FRR1, Class 5C, PO, 5/25/2052 ‡ (a)
|
6,619,500
|
5,600,074
|
|
Series 2019-FRR1, Class 5D1, PO, 5/25/2052 ‡ (a)
|
2,500,000
|
1,948,968
|
|
Series 2019-FRR1, Class 6C, PO, 5/25/2052 ‡ (a)
|
2,500,000
|
1,995,015
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Commercial Mortgage-Backed Securities — continued
|
||
|
Series 2019-FRR1, Class 5B13, 2.15%, 5/25/2052 ‡ (a) (f)
|
8,169,000
|
7,333,823
|
|
BOFAS Re-REMIC Trust
|
|
|
|
Series 2026-FRR7, Class AGX1, 3.59%, 10/27/2037 (a) (f)
|
5,885,000
|
5,688,590
|
|
Series 2026-FRR7, Class DK77, 1.27%, 5/27/2051 ‡ (a) (f)
|
14,535,000
|
13,099,092
|
|
Series 2025-FRR6, Class C, 1.49%, 11/27/2051 ‡ (a) (f)
|
8,000,000
|
6,956,620
|
|
Series 2025-FRR6, Class B, 1.50%, 11/27/2051 ‡ (a) (f)
|
7,636,000
|
6,805,215
|
|
Series 2026-FRR7, Class DK97, 1.36%, 7/27/2052 ‡ (a) (f)
|
19,598,000
|
16,533,190
|
|
Series 2026-FRR8, Class D124, 1.23%, 12/27/2053 ‡ (a) (f)
|
5,000,000
|
3,937,861
|
|
Series 2026-FRR8, Class C124, 1.43%, 12/27/2053 ‡ (a) (f)
|
3,507,938
|
2,840,737
|
|
Series 2026-FRR8, Class D129, 1.34%, 4/27/2054 ‡ (a) (f)
|
7,452,000
|
5,791,073
|
|
Series 2026-FRR8, Class C129, 1.47%, 4/27/2054 ‡ (a) (f)
|
3,868,249
|
3,042,653
|
|
BX Commercial Mortgage Trust Series 2025-COPT, Class A, 5.38%, 8/15/2042 (a) (f)
|
6,105,000
|
6,116,447
|
|
BXP Trust Series 2017-GM, Class A, 3.38%, 6/13/2039 (a)
|
2,000,000
|
1,971,116
|
|
Cascade Funding Mortgage Trust
|
|
|
|
Series 2021-FRR1, Class BK98, 0.00%, 8/29/2029 (a)
|
7,150,000
|
5,706,851
|
|
Series 2021-FRR1, Class AK99, 0.00%, 9/29/2029 (a)
|
3,000,000
|
2,432,829
|
|
Series 2021-FRR1, Class BK99, 0.00%, 9/29/2029 (a)
|
400,000
|
306,336
|
|
CSMC OA LLC
|
|
|
|
Series 2014-USA, Class C, 4.34%, 9/15/2037 (a)
|
10,325,000
|
8,881,749
|
|
Series 2014-USA, Class D, 4.37%, 9/15/2037 (a)
|
8,974,000
|
7,540,474
|
|
CSTL Commercial Mortgage Trust
|
|
|
|
Series 2025-GATE2, Class E, 6.35%, 11/10/2042 (a) (f)
|
9,500,000
|
9,334,256
|
|
Series 2026-GATE3, Class E, 6.34%, 2/10/2043 (a) (f)
|
4,124,000
|
4,045,442
|
|
DLIC Re-REMIC Trust
|
|
|
|
Series 2025-FRR1, Class AGX1, 3.59%, 10/27/2037 ‡ (a) (f)
|
6,195,000
|
6,018,620
|
|
Series 2025-FRR1, Class DK57, 0.86%, 8/27/2049 ‡ (a) (f)
|
8,410,000
|
8,242,173
|
|
FHLMC Series 2025-MN11, Class M2, 6.26%, 7/25/2045 (a) (f)
|
5,000,000
|
4,966,500
|
|
FHLMC MSCR Trust
|
|
|
|
Series 2023-MN7, Class M2, 9.31%, 9/25/2043 (a) (f)
|
1,240,000
|
1,324,358
|
|
Series 2024-MN8, Class M2, 7.86%, 5/25/2044 (a) (f)
|
4,761,000
|
4,968,149
|
|
Series 2024-MN9, Class M2, 6.86%, 10/25/2044 (a) (f)
|
4,000,000
|
4,056,030
|
|
Series 2025-MN10, Class M1, 5.66%, 2/25/2045 (a) (f)
|
6,325,793
|
6,272,591
|
|
Series 2025-MN10, Class M2, 6.46%, 2/25/2045 (a) (f)
|
6,700,000
|
6,722,994
|
|
Series 2025-MN12, Class M2, 6.36%, 11/25/2045 (a) (f)
|
5,000,000
|
4,978,788
|
|
Series 2026-MN13, Class M2, 6.56%, 3/25/2046 (a) (f)
|
16,000,000
|
16,036,475
|
|
Series 2021-MN1, Class M1, 5.61%, 1/25/2051 (a) (f)
|
299,604
|
299,234
|
|
Series 2021-MN1, Class M2, 7.36%, 1/25/2051 (a) (f)
|
26,991,000
|
27,945,844
|
|
Series 2021-MN1, Class B1, 11.36%, 1/25/2051 (a) (f)
|
10,680,000
|
11,709,019
|
|
Series 2021-MN3, Class M1, 5.91%, 11/25/2051 (a) (f)
|
155,236
|
155,314
|
|
Series 2021-MN3, Class M2, 7.61%, 11/25/2051 (a) (f)
|
13,462,000
|
13,906,383
|
|
FHLMC, Multi-Family Structured Credit Risk
|
|
|
|
Series 2022-MN4, Class M1, 7.86%, 5/25/2052 (a) (f)
|
861,543
|
874,978
|
|
Series 2022-MN4, Class M2, 10.11%, 5/25/2052 (a) (f)
|
750,000
|
822,074
|
|
FHLMC, Multi-Family Structured Pass-Through Certificates
|
|
|
|
Series KW06, Class A2, 3.80%, 6/25/2028 (f)
|
1,652,569
|
1,630,100
|
|
Series K088, Class A2, 3.69%, 1/25/2029
|
350,000
|
344,388
|
|
Series K753, Class A2, 4.40%, 10/25/2030
|
3,125,000
|
3,121,164
|
|
Series K128, Class X3, IO, 2.78%, 4/25/2031 (f)
|
550,000
|
61,186
|
|
Series KJ48, Class A2, 5.03%, 10/25/2031
|
2,000,000
|
2,025,995
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Commercial Mortgage-Backed Securities — continued
|
||
|
Series K136, Class A2, 2.13%, 11/25/2031
|
3,500,000
|
3,111,231
|
|
Series K142, Class A2, 2.40%, 3/25/2032
|
1,250,000
|
1,120,132
|
|
Series K-151, Class A2, 3.80%, 10/25/2032 (f)
|
1,050,000
|
1,007,341
|
|
Series K-153, Class A2, 3.82%, 12/25/2032 (f)
|
1,000,000
|
959,671
|
|
Series KJ44, Class A2, 4.61%, 2/25/2033
|
5,000,000
|
4,986,553
|
|
Series K-160, Class A2, 4.50%, 8/25/2033 (f)
|
6,000,000
|
5,964,703
|
|
Series K-1520, Class X1, IO, 0.47%, 2/25/2036 (f)
|
4,432,089
|
141,877
|
|
Series K-1520, Class X3, IO, 3.09%, 4/25/2039 (f)
|
550,000
|
121,988
|
|
Series Q014, Class X, IO, 2.73%, 10/25/2055 (f)
|
1,705,951
|
237,045
|
|
FNMA ACES
|
|
|
|
Series 2017-M3, Class A2, 2.48%, 12/25/2026 (f)
|
180,623
|
179,057
|
|
Series 2021-M11, Class A2, 1.46%, 3/25/2031 (f)
|
300,000
|
261,923
|
|
Series 2023-M2, Class PT, 3.13%, 4/25/2031 (f)
|
3,892,979
|
3,698,996
|
|
Series 2026-M10, Class A1, 1.85%, 6/25/2031 (f)
|
4,977,333
|
4,594,654
|
|
Series 2022-M1G, Class A2, 1.53%, 9/25/2031 (f)
|
2,700,000
|
2,363,490
|
|
Series 2026-M9, Class A1, 1.57%, 10/25/2031 (f)
|
7,038,649
|
6,338,138
|
|
Series 2022-M1, Class A1, 1.67%, 10/25/2031 (f)
|
327,028
|
307,248
|
|
Series 2022-M3, Class A2, 1.71%, 11/25/2031 (f)
|
1,400,000
|
1,214,399
|
|
Series 2021-M15, Class A2, 1.83%, 11/25/2031 (f)
|
1,364,317
|
1,219,653
|
|
Series 2022-M2, Class A2, 2.40%, 11/25/2031
|
17,125,000
|
15,526,982
|
|
Series 2022-M8, Class A2, 1.94%, 12/25/2031 (f)
|
2,500,000
|
2,195,365
|
|
Series 2022-M13, Class A2, 2.59%, 6/25/2032 (f)
|
1,372,000
|
1,238,759
|
|
Series 2020-M53, Class A2, 1.68%, 11/25/2032 (f)
|
1,250,000
|
1,067,269
|
|
Series 2026-M9, Class A, 1.57%, 1/25/2033 (f)
|
7,074,623
|
6,257,159
|
|
Series 2026-M9, Class A2, 1.57%, 1/25/2033 (f)
|
33,056,309
|
27,854,370
|
|
Series 2023-M8, Class A2, 4.48%, 3/25/2033 (f)
|
2,980,000
|
2,972,223
|
|
Series 2021-M3, Class X1, IO, 1.83%, 11/25/2033 (f)
|
357,402
|
19,831
|
|
Series 2026-M10, Class X1, IO, 0.00%, 7/25/2035
|
39,213,331
|
5,858
|
|
Series 2026-M10, Class A2, 1.85%, 7/25/2035 (f)
|
28,414,000
|
24,062,657
|
|
Series 2026-M10, Class PS, 1.85%, 7/25/2035 (f)
|
5,821,000
|
5,072,861
|
|
Series 2021-M8, Class A2, 2.10%, 11/25/2035
|
18,419,494
|
16,421,191
|
|
FREMF Series 20K-1517, Class C, PO, 8/25/2035 (a)
|
10,000,000
|
5,020,237
|
|
FREMF Mortgage Trust
|
|
|
|
Series 2018-K82, Class X2A, IO, 0.10%, 9/25/2028 (a)
|
85,534,545
|
152,542
|
|
Series 2021-KHG3, Class BFX, 2.40%, 9/25/2028 (a) (f)
|
1,000,000
|
918,881
|
|
Series 2021-KHG3, Class CFX, 2.40%, 9/25/2028 (a) (f)
|
10,216,000
|
9,305,399
|
|
Series 2021-KHG3, Class CFL, 9.05%, 9/25/2028 (a) (f)
|
5,952,963
|
5,975,980
|
|
Series 2018-K82, Class D, PO, 10/25/2028 (a)
|
8,500,000
|
7,058,668
|
|
Series 2018-K82, Class X2B, IO, 0.10%, 10/25/2028 (a)
|
22,000,000
|
46,154
|
|
Series 2018-K84, Class D, PO, 11/25/2028 (a)
|
9,500,000
|
7,720,341
|
|
Series 2019-K92, Class X2A, IO, 0.10%, 4/25/2029 (a)
|
125,782,271
|
273,098
|
|
Series 2019-KG01, Class X2A, IO, 0.10%, 4/25/2029 (a)
|
71,300,192
|
152,711
|
|
Series 2019-KG01, Class C, PO, 5/25/2029 (a)
|
12,278,000
|
9,989,156
|
|
Series 2019-KG01, Class X2B, IO, 0.10%, 5/25/2029 (a)
|
16,000,000
|
37,982
|
|
Series 2019-K92, Class X2B, IO, 0.10%, 7/25/2029 (a)
|
28,380,000
|
71,841
|
|
Series 2019-KC07, Class C, 3.58%, 10/25/2029 (a) (f)
|
5,000,000
|
4,255,212
|
|
Series 2020-KL06, Class C, 3.41%, 12/25/2029 (a) (f)
|
3,350,000
|
2,893,164
|
|
Series 2020-K107, Class D, 3.51%, 2/25/2030 (a) (f)
|
9,000,000
|
7,441,881
|
|
Series 2023-K752, Class D, PO, 8/25/2030 (a)
|
5,300,000
|
3,743,730
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Commercial Mortgage-Backed Securities — continued
|
||
|
Series 2023-K752, Class X2B, IO, 0.10%, 8/25/2030 (a)
|
18,100,000
|
60,649
|
|
Series 2020-KSG1, Class C, PO, 9/25/2030 (a)
|
5,500,000
|
3,896,201
|
|
Series 2020-KSG1, Class X2A, IO, 0.10%, 9/25/2030 (a)
|
50,047,356
|
161,423
|
|
Series 2020-KSG1, Class X2B, IO, 0.10%, 9/25/2030 (a)
|
5,500,000
|
19,165
|
|
Series 2019-KW10, Class C, PO, 10/25/2032 (a)
|
3,200,000
|
2,418,757
|
|
Series 2019-KW10, Class X2A, IO, 0.10%, 10/25/2032 (a)
|
34,867,302
|
86,893
|
|
Series 2019-KW10, Class X2B, IO, 0.10%, 10/25/2032 (a)
|
4,200,000
|
11,116
|
|
Series 2018-K155, Class X2A, IO, 0.10%, 4/25/2033 (a)
|
90,753,977
|
388,799
|
|
Series 2018-K155, Class C, PO, 5/25/2033 (a)
|
8,000,000
|
4,556,558
|
|
Series 2018-K155, Class X2B, IO, 0.10%, 5/25/2033 (a)
|
10,500,000
|
55,701
|
|
Series 2018-K157, Class C, PO, 9/25/2033 (a)
|
10,448,587
|
5,794,237
|
|
Series 2018-K159, Class C, PO, 11/25/2033 (a)
|
11,533,464
|
6,628,035
|
|
Series 2018-K159, Class X2B, IO, 0.10%, 11/25/2033 (a)
|
7,657,071
|
42,715
|
|
Series 19K-1510, Class C, 0.00%, 1/25/2034 (a)
|
10,000,000
|
5,379,558
|
|
Series 19K-1511, Class C, PO, 4/25/2034 (a)
|
12,000,000
|
6,345,091
|
|
Series 19K-1514, Class C, 0.00%, 10/25/2034 (a)
|
12,000,000
|
6,254,641
|
|
Series 21K-1519, Class C, PO, 12/25/2035 (a)
|
12,601,391
|
6,167,268
|
|
Series 21K-1519, Class X2B, IO, 0.10%, 12/25/2035 (a)
|
12,601,391
|
84,913
|
|
Series 2016-K57, Class B, 3.86%, 8/25/2049 (a) (f)
|
1,000,000
|
996,395
|
|
Series 2017-K68, Class D, PO, 10/25/2049 (a)
|
8,282,198
|
7,453,778
|
|
Series 2017-K69, Class D, PO, 10/25/2049 (a)
|
14,343,050
|
12,719,632
|
|
Series 2017-K69, Class X2B, IO, 0.10%, 10/25/2049 (a)
|
23,685,560
|
28,015
|
|
Series 2018-K80, Class B, 4.23%, 8/25/2050 (a) (f)
|
1,000,000
|
975,976
|
|
Series 2018-K81, Class D, PO, 9/25/2051 (a)
|
9,500,000
|
7,763,751
|
|
Series 2018-K83, Class D, PO, 11/25/2051 (a)
|
6,800,000
|
5,534,623
|
|
Series 2019-K88, Class C, 4.39%, 2/25/2052 (a) (f)
|
1,975,000
|
1,917,523
|
|
Series 2019-K92, Class D, PO, 5/25/2052 (a)
|
12,000,000
|
9,474,265
|
|
Series 2020-K116, Class D, PO, 9/25/2052 (a)
|
12,000,000
|
8,206,015
|
|
Series 2020-K116, Class X2A, IO, 0.10%, 9/25/2052 (a)
|
124,319,253
|
375,593
|
|
Series 2020-K116, Class X2B, IO, 0.10%, 9/25/2052 (a)
|
31,000,000
|
102,154
|
|
Series 2020-K740, Class D, PO, 11/25/2052 (a)
|
13,300,000
|
11,910,334
|
|
Series 2020-K740, Class X2A, IO, 0.10%, 11/25/2052 (a)
|
137,547,999
|
131,675
|
|
Series 2020-K740, Class X2B, IO, 0.10%, 11/25/2052 (a)
|
32,600,000
|
36,316
|
|
Series 2019-K100, Class C, 3.50%, 11/25/2052 (a) (f)
|
5,250,000
|
4,951,489
|
|
Series 2020-K105, Class D, PO, 3/25/2053 (a)
|
9,500,000
|
6,705,868
|
|
Series 2020-K105, Class X2A, IO, 0.10%, 3/25/2053 (a)
|
98,587,205
|
271,184
|
|
Series 2020-K105, Class X2B, IO, 0.10%, 3/25/2053 (a)
|
23,000,000
|
70,941
|
|
Series 2020-K109, Class D, PO, 5/25/2053 (a)
|
11,000,000
|
7,596,612
|
|
Series 2020-K113, Class D, PO, 5/25/2053 (a)
|
9,500,000
|
6,741,330
|
|
Series 2020-K109, Class X2A, IO, 0.10%, 5/25/2053 (a)
|
119,369,757
|
358,718
|
|
Series 2020-K109, Class X2B, IO, 0.10%, 5/25/2053 (a)
|
30,000,000
|
96,123
|
|
Series 2020-K115, Class D, PO, 9/25/2053 (a)
|
12,000,000
|
8,884,033
|
|
Series 2020-K115, Class X2A, IO, 0.10%, 9/25/2053 (a)
|
127,722,746
|
411,254
|
|
Series 2020-K115, Class X2B, IO, 0.10%, 9/25/2053 (a)
|
29,200,000
|
99,099
|
|
Series 2020-K118, Class D, PO, 10/25/2053 (a)
|
13,900,000
|
9,953,076
|
|
Series 2020-K118, Class X2A, IO, 0.10%, 10/25/2053 (a)
|
150,091,645
|
497,254
|
|
Series 2020-K118, Class X2B, IO, 0.10%, 10/25/2053 (a)
|
31,043,000
|
108,148
|
|
Series 2020-K739, Class D, PO, 11/25/2053 (a)
|
13,500,000
|
11,685,204
|
|
Series 2020-K739, Class X2A, IO, 0.10%, 11/25/2053 (a)
|
129,119,979
|
97,718
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Commercial Mortgage-Backed Securities — continued
|
||
|
Series 2020-K739, Class X2B, IO, 0.10%, 11/25/2053 (a)
|
34,000,000
|
33,425
|
|
Series 2020-K122, Class D, PO, 1/25/2054 (a)
|
11,000,000
|
7,414,565
|
|
Series 2021-K126, Class D, PO, 1/25/2054 (a)
|
13,000,000
|
8,908,414
|
|
Series 2020-K122, Class X2B, IO, 0.10%, 1/25/2054 (a)
|
27,000,000
|
95,712
|
|
Series 2021-K126, Class X2A, IO, 0.10%, 1/25/2054 (a)
|
130,571,222
|
462,079
|
|
Series 2021-K126, Class X2B, IO, 0.10%, 1/25/2054 (a)
|
33,500,000
|
127,648
|
|
Series 2023-K752, Class X2A, IO, 0.10%, 9/25/2060 (a)
|
87,367,477
|
272,735
|
|
FREMF Trust Series 2018-KW04, Class C, PO, 12/25/2032 (a)
|
5,000,000
|
3,508,793
|
|
GAM Re-REMIC Trust
|
|
|
|
Series 2022-FRR3, Class BK71, 1.93%, 11/27/2050 (a) (f)
|
7,500,000
|
7,014,246
|
|
Series 2021-FRR1, Class 1B, PO, 11/29/2050 ‡ (a)
|
10,000,000
|
9,356,041
|
|
Series 2021-FRR1, Class 2B, PO, 11/29/2050 ‡ (a)
|
13,207,000
|
12,066,957
|
|
Series 2021-FRR1, Class 2C, PO, 11/29/2050 ‡ (a)
|
2,200,000
|
1,989,887
|
|
Series 2022-FRR3, Class BK89, PO, 1/27/2052 ‡ (a)
|
4,000,000
|
3,349,613
|
|
GAM Re-REMIC TRUST
|
|
|
|
Series 2021-FRR2, Class CK78, PO, 9/27/2051 ‡ (a)
|
5,000,000
|
4,044,251
|
|
Series 2021-FRR2, Class BK78, 2.34%, 9/27/2051 (a) (f)
|
5,734,000
|
5,136,303
|
|
Hudson Yards Mortgage Trust Series 2019-30HY, Class A, 3.23%, 7/10/2039 (a)
|
3,000,000
|
2,851,161
|
|
MRCD MARK Mortgage Trust Series 2019-PARK, Class E, 2.72%, 12/15/2036 (a)
|
670,000
|
453,590
|
|
MTN Commercial Mortgage Trust Series 2026-LPFX, Class E, 6.56%, 5/15/2043 (a) (f)
|
12,000,000
|
12,038,897
|
|
Multi-Family Connecticut Avenue Securities Trust
|
|
|
|
Series 2019-01, Class M10, 6.98%, 10/25/2049 (a) (f)
|
15,491,075
|
15,642,022
|
|
Series 2019-01, Class B10, 9.23%, 10/25/2049 (a) (f)
|
6,560,000
|
6,649,476
|
|
Series 2020-01, Class M10, 7.48%, 3/25/2050 (a) (f)
|
15,614,815
|
15,845,794
|
|
Series 2023-01, Class M10, 10.11%, 11/25/2053 (a) (f)
|
23,685,000
|
27,055,207
|
|
Series 2024-01, Class M10, 7.46%, 7/25/2054 (a) (f)
|
2,737,000
|
2,823,412
|
|
RFM Re-REMIC Trust
|
|
|
|
Series 2022-FRR1, Class CK60, PO, 11/8/2049 ‡ (a)
|
6,350,000
|
6,126,070
|
|
Series 2022-FRR1, Class CK64, PO, 3/1/2050 ‡ (a)
|
13,190,000
|
12,429,817
|
|
Series 2022-FRR1, Class BK64, 1.64%, 3/1/2050 ‡ (a) (f)
|
10,328,481
|
9,928,889
|
|
Series 2022-FRR1, Class AB64, 2.16%, 3/1/2050 ‡ (a) (f)
|
3,670,000
|
3,545,485
|
|
RFT TRUST
|
|
|
|
Series 2024-2, Class A1, 7.11%, 9/27/2028 (a) (g)
|
4,421,820
|
4,392,056
|
|
Series 2024-2, Class A2, 8.81%, 9/27/2028 (a) (g)
|
7,764,910
|
7,705,803
|
|
RWC Commercial Mortgage Trust Series 2025-1, Class D, 6.76%, 6/27/2040 (a)
|
5,568,000
|
5,449,576
|
|
SMRT Series 2022-MINI, Class F, 6.98%, 1/15/2039 (a) (f)
|
7,400,000
|
7,252,000
|
|
Total Commercial Mortgage-Backed Securities
(Cost $915,903,542)
|
|
929,947,365
|
|
Collateralized Mortgage Obligations — 5.2%
|
||
|
ABL
|
|
|
|
Series 2024-RTL1, Class A1, 6.08%, 9/25/2029 (a) (g)
|
9,525,000
|
9,547,808
|
|
Series 2025-RTL1, Class A1, 6.04%, 6/25/2030 (a) (g)
|
13,045,000
|
13,143,859
|
|
Series 2025-RTL1, Class A2, 8.02%, 6/25/2030 (a) (g)
|
2,000,000
|
2,013,218
|
|
Al, 5.59%, 10/25/2029 ‡
|
20,000,000
|
20,000,000
|
|
Anchor Mortgage Trust, 10.14%, 3/25/2031 ‡ (f)
|
5,000,000
|
5,052,036
|
|
Brean Asset-Backed Securities Trust
|
|
|
|
Series 2025-RM10, Class A1, 5.00%, 1/25/2065 ‡ (a)
|
4,837,129
|
4,822,167
|
|
Series 2025-RM13, Class A1, 4.25%, 10/25/2065 ‡ (a)
|
8,764,657
|
8,446,732
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Collateralized Mortgage Obligations — continued
|
||
|
Center Street Lending Resi-Investor ABS Mortgage Trust
|
|
|
|
Series 2024-RTL1, Class A2, 8.34%, 10/25/2029 ‡ (a) (g)
|
1,835,000
|
1,850,987
|
|
Series 2026-RTL1, Class A2, 6.41%, 12/25/2030 (a) (g)
|
3,000,000
|
2,990,580
|
|
CFMT LLC Series 2024-HB14, Class A, 3.00%, 6/25/2034 ‡ (a) (f)
|
8,100,498
|
8,015,695
|
|
Connecticut Avenue Securities Series 2025-R01, Class 1A1, 4.56%, 1/25/2045 (a) (f)
|
4,817,904
|
4,822,716
|
|
Connecticut Avenue Securities Trust Series 2023-R06, Class 1M2, 6.31%, 7/25/2043 (a) (f)
|
1,500,000
|
1,537,500
|
|
FHLMC Seasoned Credit Risk Transfer Trust
|
|
|
|
Series 2018-1, Class MA, 3.00%, 5/25/2057
|
275,813
|
258,774
|
|
Series 2018-1, Class M60C, 3.50%, 5/25/2057
|
106,880
|
99,494
|
|
Series 2018-3, Class MA, 3.50%, 8/25/2057 (f)
|
5,930,851
|
5,762,966
|
|
Series 2018-3, Class M55D, 4.00%, 8/25/2057 (f)
|
192,785
|
179,912
|
|
Series 2018-2, Class MT, 3.50%, 11/25/2057
|
486,732
|
438,223
|
|
Series 2018-2, Class M55D, 4.00%, 11/25/2057
|
220,937
|
208,607
|
|
Series 2019-1, Class MA, 3.50%, 7/25/2058
|
2,408,161
|
2,308,964
|
|
Series 2019-2, Class MA, 3.50%, 8/26/2058
|
1,038,693
|
990,478
|
|
Series 2019-3, Class MT, 3.50%, 10/25/2058
|
3,732,507
|
3,366,447
|
|
Series 2020-1, Class MA, 2.50%, 8/25/2059
|
2,973,353
|
2,761,859
|
|
Series 2020-3, Class MTU, 2.50%, 5/25/2060
|
13,235,551
|
10,958,912
|
|
Series 2020-3, Class M5TW, 3.00%, 5/25/2060
|
355,944
|
314,203
|
|
Series 2020-3, Class TTW, 3.00%, 5/25/2060
|
263,271
|
245,311
|
|
Series 2021-1, Class BXS, 11.62%, 9/25/2060 (a) (f)
|
147,461
|
111,687
|
|
Series 2022-1, Class MAU, 3.25%, 11/25/2061
|
7,753,659
|
7,164,234
|
|
Series 2022-1, Class MTU, 3.25%, 11/25/2061
|
14,413,935
|
12,460,988
|
|
Series 2023-1, Class MT, 3.00%, 10/25/2062
|
2,606,988
|
2,182,948
|
|
Series 2024-2, Class MT, 3.50%, 5/25/2064
|
6,596,903
|
5,779,054
|
|
FHLMC, REMIC
|
|
|
|
Series 5200, Class YV, 2.50%, 7/25/2033
|
3,025,976
|
2,801,543
|
|
Series 2708, Class ZD, 5.50%, 11/15/2033
|
46,610
|
48,007
|
|
Series 4302, Class PA, 4.00%, 12/15/2043
|
37,263
|
36,603
|
|
Series 4281, Class BC, 4.50%, 12/15/2043 (f)
|
61,432
|
60,600
|
|
Series 5141, Class AH, 2.25%, 11/25/2047
|
956,385
|
854,265
|
|
Series 5200, Class MA, 2.50%, 8/25/2048
|
2,368,442
|
2,163,888
|
|
Series 4913, Class UA, 3.00%, 3/15/2049
|
4,853,110
|
4,320,230
|
|
Series 4916, Class P, 3.00%, 9/25/2049
|
4,172,116
|
3,747,362
|
|
Series 5028, Class JG, 1.50%, 8/25/2050
|
2,313,325
|
1,843,933
|
|
Series 5155, Class JD, 1.25%, 10/25/2051
|
1,161,302
|
909,408
|
|
Series 5347, PO, 10/25/2053
|
3,467,548
|
2,763,640
|
|
Series 5650, Class BS, IF, 4.68%, 4/25/2056 (f)
|
19,672,191
|
17,447,463
|
|
Series 5674, Class AO, PO, 7/25/2056
|
18,000,000
|
14,208,750
|
|
Series 4862, Class NO, PO, 8/15/2057
|
4,543,332
|
2,800,481
|
|
FHLMC, STRIPS Series 406, PO, 10/25/2053
|
2,061,286
|
1,758,394
|
|
FNMA, Grantor Trust Series 2017-T1, Class A, 2.90%, 6/25/2027
|
1,085,854
|
1,071,168
|
|
FNMA, REMIC
|
|
|
|
Series 2003-7, Class FA, 4.48%, 2/25/2033 (f)
|
39,176
|
39,353
|
|
Series 2013-108, Class GU, 3.00%, 10/25/2033
|
227,796
|
218,201
|
|
Series 2005-110, Class TY, 5.50%, 12/25/2035
|
25,023
|
25,830
|
|
Series 2007-89, Class F, 4.31%, 9/25/2037 (f)
|
44,126
|
44,063
|
|
Series 2011-112, Class PB, 4.00%, 11/25/2041
|
82,063
|
79,233
|
|
Series 2014-57, Class PE, 3.00%, 9/25/2044
|
1,129,000
|
938,235
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Collateralized Mortgage Obligations — continued
|
||
|
Series 2021-86, Class MA, 2.50%, 11/25/2047
|
18,231,238
|
16,531,985
|
|
Series 2019-25, Class PB, 2.00%, 5/25/2048
|
5,081,516
|
4,540,388
|
|
Series 2021-91, Class GB, 1.75%, 7/25/2049
|
21,335,560
|
17,895,745
|
|
Series 2021-14, Class CB, 1.00%, 11/25/2049
|
2,981,568
|
2,325,292
|
|
Series 2021-95, Class GA, 1.88%, 3/25/2051
|
17,524,233
|
14,444,794
|
|
Series 2025-18, Class MA, 0.50%, 9/25/2054
|
15,886,849
|
13,454,620
|
|
Series 2026-41, Class AO, PO, 6/25/2056
|
14,999,989
|
11,582,804
|
|
Series 2026-40, Class DT, 0.25%, 6/25/2056
|
16,000,000
|
12,876,853
|
|
GNMA
|
|
|
|
Series 2012-13, Class FQ, 4.04%, 1/20/2038 (f)
|
1,545,138
|
1,544,644
|
|
Series 2010-14, Class FH, 4.24%, 2/16/2040 (f)
|
1,649,979
|
1,643,677
|
|
Series 2010-61, Class FK, 4.24%, 5/16/2040 (f)
|
1,079,636
|
1,075,604
|
|
Series 2012-61, Class FM, 4.14%, 5/16/2042 (f)
|
269,282
|
267,174
|
|
Series 2025-6, Class GA, 3.50%, 1/20/2048
|
18,882,948
|
18,008,222
|
|
Series 2024-51, Class GC, 3.50%, 7/20/2048
|
18,478,284
|
17,902,153
|
|
Series 2020-165, Class UD, 1.50%, 11/20/2050
|
610,582
|
473,387
|
|
Series 2021-44, Class QM, 1.75%, 3/20/2051
|
5,847,406
|
4,630,682
|
|
Series 2024-197, Class BN, 3.00%, 5/20/2051
|
33,316,621
|
30,751,845
|
|
Series 2021-119, Class JG, 1.50%, 6/20/2051
|
5,492,127
|
4,690,019
|
|
Series 2022-87, Class JT, IF, 5.77%, 5/20/2052 (f)
|
7,765,888
|
7,373,741
|
|
Series 2023-128, Class SL, IF, 7.54%, 8/20/2053 (f)
|
9,343,690
|
9,253,237
|
|
Series 2023-146, Class GO, PO, 10/20/2053
|
9,839,376
|
7,655,126
|
|
Series 2025-105, Class SM, IF, 5.49%, 6/20/2055 (f)
|
7,208,271
|
6,655,097
|
|
Series 2010-H24, Class FA, 4.13%, 10/20/2060 (f)
|
9,850
|
9,812
|
|
Series 2014-H03, Class FA, 4.38%, 1/20/2064 (f)
|
5,026
|
5,028
|
|
Series 2015-H02, Class FA, 4.43%, 1/20/2065 (f)
|
910,863
|
912,912
|
|
Series 2015-H05, Class FC, 4.26%, 2/20/2065 (f)
|
38,969
|
38,924
|
|
Series 2021-H14, Class CF, 5.03%, 9/20/2071 (f)
|
2,949,231
|
3,025,147
|
|
GS Mortgage-Backed Securities Corp. Trust Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (a) (f)
|
1,749,115
|
1,648,295
|
|
GS Mortgage-Backed Securities Trust
|
|
|
|
Series 2024-RPL4, Class A1, 3.90%, 9/25/2061 (a) (g)
|
6,609,788
|
6,452,679
|
|
Series 2025-RPL3, Class A1, 4.10%, 7/25/2065 (a) (g)
|
6,584,303
|
6,384,888
|
|
Series 2026-HE1, Class A1, 5.21%, 3/25/2066 (a) (f)
|
11,561,688
|
11,631,176
|
|
Home RE Ltd. (Bermuda) Series 2022-1, Class M1C, 9.11%, 10/25/2034 (a) (f)
|
427,674
|
438,042
|
|
ICAP Trust Series 2025-RTL1, Class A1, 6.47%, 7/25/2030 (a) (g)
|
9,000,000
|
9,094,014
|
|
LHOME Mortgage Trust
|
|
|
|
Series 2025-RTL1, Class A1, 5.65%, 1/25/2040 (a) (g)
|
5,400,000
|
5,423,573
|
|
Series 2026-RTL1, Class A1, 4.91%, 1/25/2041 (a) (g)
|
11,415,000
|
11,337,709
|
|
LOANDEPOT GMSR Master Trust Series 2025-GT2, Class A, 6.78%, 7/16/2030 (a) (f)
|
7,000,000
|
7,012,706
|
|
MFA Trust
|
|
|
|
Series 2024-NPL1, Class A1, 6.33%, 9/25/2054 (a) (g)
|
1,927,377
|
1,930,357
|
|
Series 2024-RPL1, Class A1, 4.25%, 2/25/2066 (a) (f)
|
5,741,961
|
5,466,887
|
|
MOO Securitization Trust
|
|
|
|
Series 2025-RM1, Class A1A, 4.50%, 12/25/2065 ‡ (a) (f)
|
6,900,000
|
6,652,336
|
|
Series 2025-RM1, Class A1B, 4.50%, 12/25/2065 ‡ (a) (f)
|
8,270,000
|
7,817,428
|
|
Series 2026-RM2, Class A1, 4.75%, 6/25/2066 (a) (f)
|
11,555,000
|
11,113,086
|
|
New Residential Mortgage Loan Trust
|
|
|
|
Series 2024-RTL1, Class A1, 6.66%, 3/25/2039 (a) (g)
|
3,630,922
|
3,635,137
|
|
Series 2024-RTL1, Class M1, 9.30%, 3/25/2039 (a) (f)
|
3,250,000
|
3,253,974
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Collateralized Mortgage Obligations — continued
|
||
|
Series 2024-RTL2, Class A1, 5.44%, 9/25/2039 (a) (g)
|
5,400,000
|
5,424,153
|
|
NRM FHT1 Excess Owner LLC Series 2025-FHT1, Class A, 6.55%, 3/25/2032 (a) (g)
|
19,674,250
|
19,686,216
|
|
NYMT Loan Trust Series 2024-BPL3, Class A1, 5.27%, 9/25/2039 (a) (g)
|
2,444,909
|
2,444,767
|
|
PRET LLC Series 2026-NPL1, Class A1, 5.18%, 1/25/2056 (a) (g)
|
9,520,031
|
9,448,594
|
|
Radnor RE Ltd. (Bermuda) Series 2022-1, Class M1B, 10.36%, 9/25/2032 (a) (f)
|
235,051
|
242,933
|
|
Rain City Mortgage Trust Series 2024-RTL1, Class A1, 6.53%, 9/25/2029 (a) (g)
|
5,789,000
|
5,831,952
|
|
Roc Mortgage Trust Series 2025-RTL1, Class A1, 5.63%, 2/25/2040 (a) (g)
|
6,000,000
|
6,012,034
|
|
Seasoned Credit Risk Transfer Trust
|
|
|
|
Series 2025-1, Class MTU, 3.25%, 11/25/2064
|
26,545,827
|
22,733,146
|
|
Series 2025-2, Class MTU, 3.25%, 6/25/2065
|
10,432,645
|
8,809,432
|
|
Series 2025-2, Class TTW, 4.25%, 6/25/2065
|
13,249,977
|
12,697,463
|
|
Seasoned Loans Structured Transaction Trust
|
|
|
|
Series 2024-2, Class VF, 4.86%, 10/25/2034 (a) (f)
|
7,631,447
|
7,767,735
|
|
Series 2025-1, Class A1, 3.00%, 5/25/2035
|
13,681,852
|
12,645,852
|
|
Series 2025-2, Class A1, 3.00%, 10/25/2035
|
8,485,490
|
7,866,326
|
|
Toorak Mortgage Trust Series 2024-RRTL1, Class A1, 6.60%, 2/25/2039 (a) (g)
|
1,092,154
|
1,093,174
|
|
Towd Point Mortgage Trust Series 2021-R1, Class A2C, 3.31%, 11/30/2060 (a)
|
754,000
|
629,071
|
|
TVC Mortgage Trust
|
|
|
|
Series 2026-RRTL1, Class A1, 4.96%, 2/25/2041 (a) (g)
|
15,716,000
|
15,565,293
|
|
Series 2026-RRTL1, Class A2, 5.32%, 2/25/2041 (a) (g)
|
3,400,000
|
3,368,927
|
|
Total Collateralized Mortgage Obligations
(Cost $645,889,752)
|
|
647,145,276
|
|
Foreign Government Securities — 1.3%
|
||
|
Arab Republic of Egypt
|
|
|
|
7.60%, 3/1/2029 (i)
|
1,500,000
|
1,549,500
|
|
8.63%, 2/4/2030 (a)
|
382,000
|
408,253
|
|
5.88%, 2/16/2031 (i)
|
1,600,000
|
1,556,624
|
|
7.63%, 5/29/2032 (i)
|
3,100,000
|
3,178,523
|
|
9.45%, 2/4/2033 (a)
|
2,058,000
|
2,280,923
|
|
7.30%, 9/30/2033 (i)
|
800,000
|
797,360
|
|
7.63%, 5/20/2034 (a)
|
4,184,000
|
4,204,962
|
|
8.50%, 1/31/2047 (i)
|
850,000
|
808,027
|
|
8.88%, 5/29/2050 (i)
|
1,500,000
|
1,468,950
|
|
Argentine Republic
|
|
|
|
4.12%, 7/9/2035 (g)
|
11,785,000
|
9,080,342
|
|
3.50%, 7/9/2041 (g)
|
4,500,000
|
3,230,505
|
|
Benin Government Bond
|
|
|
|
7.96%, 2/13/2038 (a)
|
1,225,000
|
1,292,216
|
|
8.38%, 1/23/2041 (a)
|
400,000
|
425,500
|
|
Commonwealth of the Bahamas 8.25%, 6/24/2036 (a)
|
2,025,000
|
2,263,444
|
|
Dominican Republic Government Bond
|
|
|
|
5.50%, 2/22/2029 (i)
|
400,000
|
402,004
|
|
6.00%, 2/22/2033 (a)
|
900,000
|
905,400
|
|
6.60%, 6/1/2036 (i)
|
1,000,000
|
1,034,550
|
|
6.95%, 3/15/2037 (a)
|
1,000,000
|
1,050,700
|
|
6.40%, 6/5/2049 (i)
|
1,500,000
|
1,445,531
|
|
5.88%, 1/30/2060 (a)
|
1,300,000
|
1,138,637
|
|
Federal Republic of Nigeria
|
|
|
|
6.50%, 11/28/2027 (i)
|
1,100,000
|
1,111,869
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Foreign Government Securities — continued
|
||
|
6.13%, 9/28/2028 (a)
|
1,500,000
|
1,513,605
|
|
9.13%, 1/13/2046 (a)
|
4,360,000
|
4,872,300
|
|
Federative Republic of Brazil
|
|
|
|
7.13%, 5/13/2054
|
2,215,000
|
2,217,414
|
|
7.25%, 1/12/2056
|
1,000,000
|
999,500
|
|
Hashemite Kingdom of Jordan
|
|
|
|
5.85%, 7/7/2030 (i)
|
1,000,000
|
1,006,250
|
|
5.75%, 11/12/2032 (a)
|
3,977,000
|
3,907,402
|
|
7.38%, 10/10/2047 (i)
|
1,900,000
|
1,861,107
|
|
Islamic Republic of Pakistan
|
|
|
|
7.38%, 4/8/2031 (a)
|
4,100,000
|
4,027,635
|
|
8.88%, 4/8/2051 (a)
|
4,800,000
|
4,638,000
|
|
Istanbul Metropolitan Municipality 10.50%, 12/6/2028 (a)
|
1,800,000
|
1,931,652
|
|
Plurinational State of Bolivia 9.45%, 5/14/2031 (a)
|
2,375,000
|
2,315,625
|
|
Republic of Angola
|
|
|
|
8.00%, 11/26/2029 (i)
|
378,000
|
384,379
|
|
9.88%, 10/15/2035 (a)
|
3,200,000
|
3,413,600
|
|
9.88%, 3/31/2037 (a)
|
1,800,000
|
1,886,625
|
|
Republic of Colombia
|
|
|
|
6.13%, 1/21/2031
|
1,014,000
|
1,009,691
|
|
7.75%, 11/7/2036
|
3,211,000
|
3,361,917
|
|
Republic of Congo
|
|
|
|
8.75%, 4/16/2032 (a)
|
3,080,000
|
3,113,726
|
|
9.50%, 5/26/2036 (i)
|
2,643,000
|
2,637,452
|
|
9.50%, 4/16/2037 (a)
|
2,650,000
|
2,702,629
|
|
Republic of Costa Rica 7.30%, 11/13/2054 (a)
|
800,000
|
893,260
|
|
Republic of Cote d'Ivoire
|
|
|
|
6.13%, 6/15/2033 (i)
|
3,050,000
|
3,034,292
|
|
8.08%, 4/1/2036 (a)
|
2,100,000
|
2,285,062
|
|
8.25%, 1/30/2037 (a)
|
1,402,000
|
1,543,076
|
|
6.75%, 2/25/2041 (a)
|
3,990,000
|
3,812,944
|
|
Republic of Ecuador
|
|
|
|
8.75%, 1/29/2034 (a)
|
4,334,000
|
4,396,800
|
|
6.90%, 7/31/2035 (a) (g)
|
4,882,354
|
4,481,232
|
|
9.25%, 1/29/2039 (a)
|
7,626,000
|
7,839,299
|
|
5.00%, 7/31/2040 (a) (g)
|
2,073,332
|
1,732,352
|
|
Republic of El Salvador
|
|
|
|
9.25%, 4/17/2030 (i)
|
1,000,000
|
1,068,575
|
|
9.65%, 11/21/2054 (a)
|
2,908,000
|
3,265,393
|
|
Republic of Guatemala 6.25%, 8/15/2036 (a)
|
2,435,000
|
2,533,204
|
|
Republic of Honduras 8.63%, 11/27/2034 (a)
|
1,900,000
|
2,165,050
|
|
Republic of Kenya
|
|
|
|
7.88%, 10/9/2033 (a)
|
1,320,000
|
1,300,530
|
|
9.50%, 3/5/2036 (a)
|
2,773,000
|
2,893,958
|
|
8.80%, 10/9/2038 (a)
|
2,857,000
|
2,850,772
|
|
Republic of Montenegro 7.25%, 3/12/2031 (a)
|
600,000
|
633,000
|
|
Republic of Paraguay
|
|
|
|
5.60%, 3/13/2048 (i)
|
1,600,000
|
1,500,976
|
|
5.40%, 3/30/2050 (i)
|
4,100,000
|
3,731,820
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Foreign Government Securities — continued
|
||
|
Republic of South Africa
|
|
|
|
7.10%, 11/19/2036 (a)
|
2,330,000
|
2,487,275
|
|
7.30%, 4/20/2052
|
2,000,000
|
1,997,500
|
|
7.95%, 11/19/2054 (a)
|
1,795,000
|
1,911,675
|
|
7.25%, 12/11/2055 (a)
|
3,755,000
|
3,699,614
|
|
Republic of Srpska International Government Bond 6.38%, 5/8/2033 (a)
|
EUR1,070,000
|
1,239,567
|
|
Romania Government Bond
|
|
|
|
7.50%, 2/10/2037 (i)
|
1,000,000
|
1,079,560
|
|
6.00%, 9/24/2044 (a)
|
EUR3,354,000
|
3,769,275
|
|
Suriname Government International Bond
|
|
|
|
7.70%, 11/6/2030 (a)
|
2,065,000
|
2,131,823
|
|
8.50%, 11/6/2035 (a)
|
2,839,000
|
3,041,364
|
|
Total Foreign Government Securities
(Cost $155,778,624)
|
|
160,753,577
|
|
Loan Assignments — 0.4% (c) (l)
|
||
|
Aerospace & Defense — 0.0% ^
|
||
|
VSE Corp., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 2.00%), 5.47%, 5/5/2033
|
262,847
|
263,307
|
|
Automobile Components — 0.0% ^
|
||
|
Adient US LLC, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.00%), 5.62%, 1/31/2031
|
1,952,955
|
1,950,202
|
|
Building Products — 0.1%
|
||
|
EMRLD Borrower LP, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.95%, 8/4/2031
|
985,056
|
984,751
|
|
EMRLD Borrower LP, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 5.92%, 5/31/2030
|
1,337,388
|
1,337,455
|
|
MIWD Holdco II LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.37%, 3/28/2031
|
1,657,316
|
1,621,070
|
|
Quikrete Holdings, Inc., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.25%), 5.87%,
3/19/2029
|
684,254
|
684,815
|
|
Quikrete Holdings, Inc., 1st Lien Term Loan B-3 (1-MONTH CME TERM SOFR + 2.25%), 5.90%,
2/10/2032
|
1,673,100
|
1,673,184
|
|
|
|
6,301,275
|
|
Chemicals — 0.0% ^
|
||
|
Axalta Coating Systems US Holdings, Inc., 1st Lien Term Loan B-7 (3-MONTH CME TERM
SOFR + 1.75%), 5.45%,
12/20/2029
|
459,393
|
460,487
|
|
Ecovyst Catalyst Technologies LLC, 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.00%),
5.66%, 6/12/2031
|
618,985
|
621,950
|
|
INEOS US Finance LLC, 1st Lien Term Loan (Luxembourg) (1-MONTH CME TERM SOFR + 3.25%),
6.90%, 2/18/2030
|
1,473,797
|
1,395,199
|
|
|
|
2,477,636
|
|
Containers & Packaging — 0.0% ^
|
||
|
Graham Packaging Co., Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.25%), 5.87%,
1/26/2033
|
380,000
|
380,395
|
|
Diversified Consumer Services — 0.0% ^
|
||
|
Wand NewCo 3, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%), 6.15%, 1/30/2031
|
469,488
|
468,216
|
|
Financial Services — 0.0% ^
|
||
|
NCR Atleos LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%), 6.69%, 4/16/2029
|
318,282
|
317,187
|
|
Ground Transportation — 0.0% ^
|
||
|
Genesee & Wyoming, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 1.75%), 5.45%,
4/10/2031
|
1,890,138
|
1,887,435
|
|
Hotels, Restaurants & Leisure — 0.0% ^
|
||
|
Station Casinos LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 5.62%,
3/14/2031
|
347,342
|
348,259
|
|
Independent Power and Renewable Electricity Producers — 0.0% ^
|
||
|
Talen Energy Supply LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.00%), 5.62%,
11/25/2032
|
374,062
|
370,651
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Loan Assignments — continued
|
||
|
Insurance — 0.1%
|
||
|
Asurion LLC, 1st Lien Term Loan B-13 (3-MONTH CME TERM SOFR + 4.25%), 7.91%, 9/19/2030
|
168,725
|
168,646
|
|
Asurion LLC, 1st Lien Term Loan B-14 (3-MONTH CME TERM SOFR + 3.75%), 7.41%, 2/23/2033
|
1,183,303
|
1,153,472
|
|
HUB International Ltd., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.92%,
6/20/2030
|
1,066,063
|
1,068,216
|
|
USI, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.95%, 9/27/2030
|
1,526,463
|
1,525,822
|
|
|
|
3,916,156
|
|
IT Services — 0.0% ^
|
||
|
Ahead DB Holdings LLC, 1st Lien Term Loan B-3 (3-MONTH CME TERM SOFR + 2.50%), 6.20%,
2/3/2031
|
1,508,191
|
1,504,994
|
|
MH Sub I LLC, 1st Lien Term Loan
|
|
|
|
(1-MONTH CME TERM SOFR + 4.25%), 7.87%, 5/3/2028
|
627,472
|
606,589
|
|
(1-MONTH CME TERM SOFR + 4.25%), 7.87%, 12/31/2031
|
593,957
|
511,795
|
|
|
|
2,623,378
|
|
Machinery — 0.0% ^
|
||
|
Terex Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 1.75%), 5.40%, 10/8/2031
|
569,261
|
571,754
|
|
Media — 0.0% ^
|
||
|
Charter Communications Operating LLC, 1st Lien Term Loan B-4 (3-MONTH CME TERM SOFR
+ 2.00%), 5.69%, 12/9/2030
|
1,178,313
|
1,167,601
|
|
Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR +
4.00%), 7.73%, 8/23/2028
|
1,169,280
|
1,170,742
|
|
|
|
2,338,343
|
|
Oil, Gas & Consumable Fuels — 0.0% ^
|
||
|
Buckeye Partners LP, 1st Lien Term Loan B-7 (1-MONTH CME TERM SOFR + 1.75%), 5.37%,
11/22/2032
|
993,509
|
997,861
|
|
NorthRiver Midstream Finance LP, 1st Lien Term Loan B (Canada) (3-MONTH CME TERM SOFR
+ 2.25%), 5.94%,
8/16/2030
|
1,008,691
|
1,009,579
|
|
|
|
2,007,440
|
|
Passenger Airlines — 0.0% ^
|
||
|
AAdvantage Loyalty IP Ltd., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.93%,
4/20/2028
|
1,176,385
|
1,170,927
|
|
Jetblue Airways Corp., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.75%), 8.44%,
8/27/2029
|
985,000
|
859,412
|
|
|
|
2,030,339
|
|
Personal Care Products — 0.0% ^
|
||
|
Conair Holdings LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 7.48%,
5/17/2028
|
925,775
|
760,792
|
|
Knowlton Development Corp., Inc., 1st Lien Term Loan (Canada) (1-MONTH CME TERM SOFR
+ 3.50%), 7.15%, 8/15/2028
|
1,018,824
|
1,009,543
|
|
|
|
1,770,335
|
|
Pharmaceuticals — 0.0% ^
|
||
|
1261229 BC Ltd., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 6.25%), 9.87%, 10/8/2030
|
694,750
|
670,142
|
|
Elanco Animal Health, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 1.75%),
5.40%, 10/29/2032
|
99,727
|
99,633
|
|
|
|
769,775
|
|
Professional Services — 0.0% ^
|
||
|
WEC US Holdings, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.00%), 5.65%,
1/27/2031
|
3,069,094
|
3,070,137
|
|
Semiconductors & Semiconductor Equipment — 0.1%
|
||
|
Altar Bidco, Inc., 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 3.35%), 6.86%, 2/1/2029 (m)
|
3,125,815
|
3,110,749
|
|
Software — 0.1%
|
||
|
AthenaHealth Group, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 9.40%,
2/15/2029
|
1,724,310
|
1,722,154
|
|
BCPE Pequod Buyer, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.75%), 6.37%,
11/25/2031
|
1,920,362
|
1,905,614
|
|
Genesys Cloud Services, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 2.50%),
6.12%, 1/30/2032
|
2,626,971
|
2,527,147
|
|
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
|
Loan Assignments — continued
|
||
|
Software — continued
|
||
|
Icon Parent I, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 6.44%, 11/13/2031
|
2,481,281
|
2,369,276
|
|
UKG, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.25%), 5.91%, 2/10/2031
|
2,428,662
|
2,344,168
|
|
|
|
10,868,359
|
|
Specialty Retail — 0.0% ^
|
||
|
Petco Health & Wellness Co., Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 4.25%),
7.95%, 1/31/2031
|
990,831
|
963,682
|
|
White Cap Supply Holdings LLC, 1st Lien Term Loan C (1-MONTH CME TERM SOFR + 3.25%),
6.90%, 10/19/2029
|
980,013
|
972,506
|
|
|
|
1,936,188
|
|
Textiles, Apparel & Luxury Goods — 0.0% ^
|
||
|
Varsity Brands, Inc., 1st Lien Term Loan (3-MONTH CME TERM SOFR + 2.75%), 6.45%, 8/26/2031
|
1,793,423
|
1,794,553
|
|
Total Loan Assignments
(Cost $52,526,869)
|
|
51,572,069
|
|
Municipal Bonds — 0.0% (n) ^
|
||
|
Texas — 0.0% ^
|
||
|
Texas Natural Gas Securitization Finance Corp., Customer Rate Relief Bonds Series
2023A-2, Rev., 5.17%, 4/1/2041
|
45,000
|
45,193
|
|
Virginia — 0.0% ^
|
||
|
FHLMC Multifamily ML Certificates, Class B, Zero Coupon, 5/25/2033 (a)
|
8,000,000
|
4,776,094
|
|
Total Municipal Bonds
(Cost $4,828,591)
|
|
4,821,287
|
|
|
NO. OF RIGHTS
|
|
|
Rights — 0.0% ^
|
||
|
Media — 0.0% ^
|
||
|
SES SA (Luxembourg) ‡ *
(Cost $—)
|
270
|
4,084
|
|
|
SHARES
|
|
|
Common Stocks — 0.0% ^
|
||
|
Aerospace & Defense — 0.0% ^
|
||
|
Incora Intermediate LLC ‡ *
|
285
|
3,491
|
|
Broadline Retail — 0.0% ^
|
||
|
NMG Parent LLC, Escrow ‡ *
|
1
|
1
|
|
Health Care Equipment & Supplies — 0.0% ^
|
||
|
New Evhc Physical Equity *
|
18
|
347
|
|
Total Common Stocks
(Cost $4,564)
|
|
3,839
|
|
Preferred Stocks — 0.0% ^
|
||
|
Broadline Retail — 0.0% ^
|
||
|
MYT Holding LLC Series A, 10.00%, 6/6/2029 ‡
(Cost $2,753)
|
2,868
|
3,708
|
|
INVESTMENTS
|
SHARES
|
VALUE($)
|
|
Short-Term Investments — 10.1%
|
||
|
Investment Companies — 10.1%
|
||
|
JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.58% (o) (p)
(Cost $1,274,739,258)
|
1,274,739,258
|
1,274,739,258
|
|
Total Investments — 104.8%
(Cost $13,185,916,119)
|
|
13,178,469,382
|
|
Liabilities in Excess of Other Assets — (4.8)%
|
|
(607,483,801
)
|
|
NET ASSETS — 100.0%
|
|
12,570,985,581
|
|
Percentages indicated are based on net assets.
|
|
Abbreviations
|
|
|
ABS
|
Asset-Backed Securities
|
|
ACES
|
Alternative Credit Enhancement Securities
|
|
ARM
|
Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of May
31, 2026.
|
|
CME
|
Chicago Mercantile Exchange
|
|
CSMC
|
Credit Suisse Mortgage Trust
|
|
EUR
|
Euro
|
|
FHLMC
|
Federal Home Loan Mortgage Corp.
|
|
FNMA
|
Federal National Mortgage Association
|
|
FRN
|
Floating Rate Note
|
|
GNMA
|
Government National Mortgage Association
|
|
ICE
|
Intercontinental Exchange
|
|
IF
|
Inverse Floaters represent securities that pay interest at a rate that increases (decreases)
with a decline (incline) in a specified index or have an interest
rate that adjusts periodically based on changes in current interest rates and prepayments
on the underlying pool of assets. The interest rate shown is the
rate in effect as of May 31, 2026. The rate may be subject to a cap and floor.
|
|
IO
|
Interest Only represents the right to receive the monthly interest payments on an
underlying pool of mortgage loans. The principal amount shown
represents the par value on the underlying pool. The yields on these securities are
subject to accelerated principal paydowns as a result of prepayment or
refinancing of the underlying pool of mortgage instruments. As a result, interest
income may be reduced considerably.
|
|
JSC
|
Joint Stock Company
|
|
PIK
|
Payment In Kind
|
|
PO
|
Principal Only represents the right to receive the principal portion only on an underlying
pool of mortgage loans. The market value of these securities is
extremely volatile in response to changes in market interest rates. As prepayments
on the underlying mortgages of these securities increase, the yield on
these securities increases.
|
|
REIT
|
Real Estate Investment Trust
|
|
REMIC
|
Real Estate Mortgage Investment Conduit
|
|
Re-REMIC
|
Combined Real Estate Mortgage Investment Conduit
|
|
Rev.
|
Revenue
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
SOFRINDX
|
Compounding index of the Secured Overnight Financing Rate
|
|
STRIPS
|
Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program
lets investors hold and trade individual interest and principal
components of eligible notes and bonds as separate securities.
|
|
TBA
|
To Be Announced; Security is subject to delayed delivery.
|
|
UMBS
|
Uniform Mortgage-Backed Securities
|
|
USD
|
United States Dollar
|
|
^
|
Amount rounds to less than 0.1% of net assets.
|
|
|
‡
|
Value determined using significant unobservable inputs.
|
|
|
*
|
Non-income producing security.
|
|
|
(a)
|
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities
Act of 1933, as amended.
|
|
|
(b)
|
Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed.
|
|
|
(c)
|
Variable or floating rate security, linked to the referenced benchmark. The interest
rate shown is the current rate as of May 31, 2026.
|
|
|
(d)
|
Security is an interest bearing note with preferred security characteristics.
|
|
|
(e)
|
Security is perpetual and thus, does not have a predetermined maturity date. The coupon
rate for this security is fixed for a period of time
and may be structured to adjust thereafter. The date shown, if applicable, reflects
the next call date. The coupon rate shown is the rate in
effect as of May 31, 2026.
|
|
|
(f)
|
Variable or floating rate security, the interest rate of which adjusts periodically
based on changes in current interest rates and prepayments
on the underlying pool of assets. The interest rate shown is the current rate as of
May 31, 2026.
|
|
|
(g)
|
Step bond. Interest rate is a fixed rate for an initial period that either resets
at a specific date or may reset in the future contingent upon a
predetermined trigger. The interest rate shown is the current rate as of May 31, 2026.
|
|
|
(h)
|
All or a portion of the security is a when-issued security, delayed delivery security,
or forward commitment.
|
|
|
(i)
|
Security exempt from registration pursuant to Regulation S under the Securities Act
of 1933, as amended. Regulation S applies to securities
offerings that are made outside of the United States and do not involve direct selling
efforts in the United States and as such may have
restrictions on resale.
|
|
|
(j)
|
Defaulted security.
|
|
|
(k)
|
The rate shown is the effective yield as of May 31, 2026.
|
|
|
(l)
|
Loan assignments are presented by obligor. Each series or loan tranche underlying
each obligor may have varying terms.
|
|
|
(m)
|
All or a portion of this security is unsettled as of May 31, 2026. Unless otherwise
indicated, the coupon rate is undetermined. The coupon
rate shown may not be accrued for the entire position.
|
|
|
(n)
|
The date shown represents the earliest of the prerefunded date, next put date or final
maturity date.
|
|
|
(o)
|
Investment in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment Management Inc.
|
|
|
(p)
|
The rate shown is the current yield as of May 31, 2026.
|
|
|
DESCRIPTION
|
NUMBER OF
CONTRACTS
|
EXPIRATION DATE
|
TRADING CURRENCY
|
NOTIONAL
AMOUNT ($)
|
VALUE AND
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
|
|
Long Contracts
|
|
|
|
|
|
|
U.S. Treasury 10 Year Note
|
3,006
|
09/21/2026
|
USD
|
330,331,219
|
3,142,146
|
|
U.S. Treasury Long Bond
|
3,767
|
09/21/2026
|
USD
|
423,434,344
|
8,651,790
|
|
U.S. Treasury Ultra Bond
|
3,278
|
09/21/2026
|
USD
|
375,740,750
|
7,423,135
|
|
U.S. Treasury 2 Year Note
|
4,250
|
09/30/2026
|
USD
|
878,156,250
|
1,814,022
|
|
U.S. Treasury 5 Year Note
|
4,316
|
09/30/2026
|
USD
|
462,992,158
|
1,867,077
|
|
|
|
|
|
|
22,898,170
|
|
Short Contracts
|
|
|
|
|
|
|
U.S. Treasury 10 Year Ultra Note
|
(905
)
|
09/21/2026
|
USD
|
(101,543,828
)
|
(15,607
)
|
|
|
|
|
|
|
22,882,563
|
|
Abbreviations
|
|
|
USD
|
United States Dollar
|
|
CURRENCY
PURCHASED
|
CURRENCY
SOLD
|
COUNTERPARTY
|
SETTLEMENT
DATE
|
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
|
||
|
EUR
|
1,048,183
|
USD
|
1,220,640
|
HSBC Bank, NA
|
6/30/2026
|
3,457
|
|
USD
|
1,226,260
|
EUR
|
1,048,183
|
HSBC Bank, NA
|
6/30/2026
|
2,163
|
|
Total unrealized appreciation
|
5,620
|
|||||
|
USD
|
4,164,453
|
EUR
|
3,578,961
|
BNP Paribas
|
6/30/2026
|
(15,158
)
|
|
Total unrealized depreciation
|
(15,158
)
|
|||||
|
Net unrealized depreciation
|
(9,538
)
|
|||||
|
Abbreviations
|
|
|
EUR
|
Euro
|
|
USD
|
United States Dollar
|
|
|
||||
|
|
Level 1
Quoted prices
|
Level 2
Other significant
observable inputs
|
Level 3
Significant
unobservable inputs
|
Total
|
|
Investments in Securities
|
|
|
|
|
|
Asset-Backed Securities
|
$—
|
$1,362,324,013
|
$383,146,950
|
$1,745,470,963
|
|
Collateralized Mortgage Obligations
|
—
|
584,487,895
|
62,657,381
|
647,145,276
|
|
Commercial Mortgage-Backed Securities
|
—
|
692,164,629
|
237,782,736
|
929,947,365
|
|
Common Stocks
|
|
|
|
|
|
Aerospace & Defense
|
—
|
—
|
3,491
|
3,491
|
|
Broadline Retail
|
—
|
—
|
1
|
1
|
|
Health Care Equipment & Supplies
|
—
|
347
|
—
|
347
|
|
Total Common Stocks
|
—
|
347
|
3,492
|
3,839
|
|
Corporate Bonds
|
|
|
|
|
|
Aerospace & Defense
|
—
|
68,041,848
|
3,116
|
68,044,964
|
|
Automobile Components
|
—
|
24,572,693
|
—
|
24,572,693
|
|
Automobiles
|
—
|
16,464,325
|
—
|
16,464,325
|
|
Banks
|
—
|
791,850,537
|
—
|
791,850,537
|
|
Beverages
|
—
|
4,531,944
|
—
|
4,531,944
|
|
Biotechnology
|
—
|
88,627,555
|
—
|
88,627,555
|
|
Broadline Retail
|
—
|
24,631,164
|
—
|
24,631,164
|
|
Building Products
|
—
|
38,189,159
|
—
|
38,189,159
|
|
Capital Markets
|
—
|
345,131,530
|
—
|
345,131,530
|
|
Chemicals
|
—
|
51,036,633
|
—
|
51,036,633
|
|
Commercial Services & Supplies
|
—
|
23,141,520
|
35,403,884
|
58,545,404
|
|
Construction & Engineering
|
—
|
9,335,968
|
—
|
9,335,968
|
|
Construction Materials
|
—
|
1,808,537
|
—
|
1,808,537
|
|
Consumer Finance
|
—
|
138,428,113
|
—
|
138,428,113
|
|
Consumer Staples Distribution & Retail
|
—
|
10,349,697
|
—
|
10,349,697
|
|
Containers & Packaging
|
—
|
38,778,099
|
—
|
38,778,099
|
|
Distributors
|
—
|
7,613,909
|
—
|
7,613,909
|
|
Diversified
|
—
|
—
|
10,139,399
|
10,139,399
|
|
Diversified Consumer Services
|
—
|
7,298,080
|
—
|
7,298,080
|
|
Diversified REITs
|
—
|
1,240,510
|
—
|
1,240,510
|
|
Diversified Telecommunication Services
|
—
|
174,845,111
|
—
|
174,845,111
|
|
Electric Utilities
|
—
|
264,625,832
|
—
|
264,625,832
|
|
Electrical Equipment
|
—
|
22,884,755
|
—
|
22,884,755
|
|
Electronic Equipment, Instruments &
Components
|
—
|
11,539,470
|
—
|
11,539,470
|
|
Energy Equipment & Services
|
—
|
28,817,872
|
—
|
28,817,872
|
|
Entertainment
|
—
|
11,509,540
|
—
|
11,509,540
|
|
Financial Services
|
—
|
95,455,991
|
81,274,436
|
176,730,427
|
|
Food Products
|
—
|
93,861,774
|
—
|
93,861,774
|
|
Gas Utilities
|
—
|
3,723,465
|
—
|
3,723,465
|
|
Ground Transportation
|
—
|
36,216,689
|
—
|
36,216,689
|
|
Health Care Equipment & Supplies
|
—
|
37,419,746
|
—
|
37,419,746
|
|
Health Care Providers & Services
|
—
|
98,402,230
|
11,662,230
|
110,064,460
|
|
|
||||
|
|
Level 1
Quoted prices
|
Level 2
Other significant
observable inputs
|
Level 3
Significant
unobservable inputs
|
Total
|
|
Health Care REITs
|
$—
|
$2,512,308
|
$—
|
$2,512,308
|
|
Health Care Technology
|
—
|
8,982,954
|
—
|
8,982,954
|
|
Hotel & Resort REITs
|
—
|
9,194,245
|
—
|
9,194,245
|
|
Hotels, Restaurants & Leisure
|
—
|
81,525,074
|
—
|
81,525,074
|
|
Household Durables
|
—
|
12,797,559
|
—
|
12,797,559
|
|
Household Products
|
—
|
4,273,210
|
—
|
4,273,210
|
|
Independent Power and Renewable
Electricity Producers
|
—
|
27,239,470
|
—
|
27,239,470
|
|
Industrial REITs
|
—
|
1,331,443
|
—
|
1,331,443
|
|
Insurance
|
—
|
27,847,010
|
—
|
27,847,010
|
|
Interactive Media & Services
|
—
|
52,303,705
|
—
|
52,303,705
|
|
IT Services
|
—
|
14,277,743
|
—
|
14,277,743
|
|
Life Sciences Tools & Services
|
—
|
2,027,466
|
—
|
2,027,466
|
|
Machinery
|
—
|
8,665,516
|
—
|
8,665,516
|
|
Marine Transportation
|
—
|
3,326,056
|
—
|
3,326,056
|
|
Media
|
—
|
99,489,417
|
—
|
99,489,417
|
|
Metals & Mining
|
—
|
62,979,293
|
—
|
62,979,293
|
|
Mortgage Real Estate Investment Trusts
(REITs)
|
—
|
40,547,162
|
5,000,000
|
45,547,162
|
|
Multi-Utilities
|
—
|
65,690,636
|
—
|
65,690,636
|
|
Oil, Gas & Consumable Fuels
|
—
|
427,992,699
|
—
|
427,992,699
|
|
Passenger Airlines
|
—
|
13,196,617
|
—
|
13,196,617
|
|
Personal Care Products
|
—
|
5,279,004
|
—
|
5,279,004
|
|
Pharmaceuticals
|
—
|
30,425,447
|
—
|
30,425,447
|
|
Professional Services
|
—
|
920,247
|
—
|
920,247
|
|
Real Estate Management & Development
|
—
|
199,247
|
11,950,899
|
12,150,146
|
|
Residential REITs
|
—
|
4,599,834
|
—
|
4,599,834
|
|
Retail REITs
|
—
|
1,906,298
|
—
|
1,906,298
|
|
Semiconductors & Semiconductor Equipment
|
—
|
74,904,071
|
—
|
74,904,071
|
|
Software
|
—
|
76,117,696
|
—
|
76,117,696
|
|
Specialized REITs
|
—
|
36,945,149
|
—
|
36,945,149
|
|
Specialty Retail
|
—
|
24,621,667
|
—
|
24,621,667
|
|
Technology Hardware, Storage & Peripherals
|
—
|
4,635,762
|
—
|
4,635,762
|
|
Tobacco
|
—
|
79,278,986
|
—
|
79,278,986
|
|
Trading Companies & Distributors
|
—
|
24,955,778
|
—
|
24,955,778
|
|
Water Utilities
|
—
|
910,498
|
—
|
910,498
|
|
Wireless Telecommunication Services
|
—
|
29,592,102
|
—
|
29,592,102
|
|
Total Corporate Bonds
|
—
|
3,931,865,665
|
155,433,964
|
4,087,299,629
|
|
Foreign Government Securities
|
—
|
160,753,577
|
—
|
160,753,577
|
|
Loan Assignments
|
—
|
51,572,069
|
—
|
51,572,069
|
|
Mortgage-Backed Securities
|
—
|
2,529,085,680
|
—
|
2,529,085,680
|
|
Municipal Bonds
|
—
|
4,821,287
|
—
|
4,821,287
|
|
Preferred Stocks
|
—
|
—
|
3,708
|
3,708
|
|
Rights
|
—
|
—
|
4,084
|
4,084
|
|
U.S. Treasury Obligations
|
—
|
1,747,622,647
|
—
|
1,747,622,647
|
|
|
||||
|
|
Level 1
Quoted prices
|
Level 2
Other significant
observable inputs
|
Level 3
Significant
unobservable inputs
|
Total
|
|
Short-Term Investments
|
|
|
|
|
|
Investment Companies
|
$1,274,739,258
|
$—
|
$—
|
$1,274,739,258
|
|
Total Investments in Securities
|
$1,274,739,258
|
$11,064,697,809
|
$839,032,315
|
$13,178,469,382
|
|
Appreciation in Other Financial Instruments
|
|
|
|
|
|
Forward Foreign Currency Exchange Contracts
|
$—
|
$5,620
|
$—
|
$5,620
|
|
Futures Contracts
|
22,898,170
|
—
|
—
|
22,898,170
|
|
Depreciation in Other Financial Instruments
|
|
|
|
|
|
Forward Foreign Currency Exchange Contracts
|
$—
|
$(15,158
)
|
$—
|
$(15,158
)
|
|
Futures Contracts
|
(15,607
)
|
—
|
—
|
(15,607
)
|
|
Total Net Appreciation/ Depreciation in Other
Financial Instruments
|
$22,882,563
|
$(9,538
)
|
$—
|
$22,873,025
|
|
|
Balance as of
February 28,
2026
|
Realized
gain (loss)
|
Change in net
unrealized
appreciation
(depreciation)
|
Net
accretion
(amortization)
|
Purchases1
|
Sales2
|
Transfers
into
Level 3
|
Transfers
out of
Level 3
|
Other(a)
|
Balance as of
May 31,
2026
|
|
Investments in
Securities:
|
|
|
|
|
|
|
|
|
|
|
|
Asset-Backed
Securities
|
$236,619,210
|
$108,858
|
$(1,960,982
)
|
$76,562
|
$173,155,700
|
$(13,815,565
)
|
$6,140,442
|
$(6,927,275
)
|
$(10,250,000
)
|
$383,146,950
|
|
Collateralized
Mortgage
Obligations
|
58,531,334
|
—
|
(576,137
)
|
15,536
|
9,749,999
|
(837,100
)
|
—
|
(14,476,251
)
|
10,250,000
|
62,657,381
|
|
Commercial
Mortgage-Backed
Securities
|
235,677,661
|
—
|
(1,238,904
)
|
202,762
|
17,209,249
|
(14,068,032
)
|
—
|
—
|
—
|
237,782,736
|
|
Common Stocks
|
3,189
|
—
|
303
|
—
|
—
|
—
|
—
|
—
|
—
|
3,492
|
|
Corporate Bonds
|
83,869,564
|
(72
)
|
79,313
|
(24,131
)
|
76,462,793
|
(4,953,503
)
|
—
|
—
|
—
|
155,433,964
|
|
Preferred Stocks
|
3,657
|
—
|
51
|
—
|
—
|
—
|
—
|
—
|
—
|
3,708
|
|
Rights
|
4,067
|
—
|
17
|
—
|
—
|
—
|
—
|
—
|
—
|
4,084
|
|
Total
|
$614,708,682
|
$108,786
|
$(3,696,339
)
|
$270,729
|
$276,577,741
|
$(33,674,200
)
|
$6,140,442
|
$(21,403,526
)
|
$—
|
$839,032,315
|
|
|
|||||||||
|
1
|
Purchases include all purchases of securities and securities received in corporate
actions.
|
||||||||
|
2
|
Sales include all sales of securities, maturities, paydowns and securities tendered
in corporate actions.
|
||||||||
|
(a)
|
Certain Level 3 investments were re-classified between Asset-Backed Securities and
Collateralized Mortgage Obligations.
|
|
|
Fair Value at
May 31, 2026
|
Valuation
Technique(s)
|
Unobservable
Input
|
Range (Weighted
Average) (a)
|
|
|
$21,284,595
|
Discounted Cash Flow
|
Constant Prepayment Rate
|
100.00% (100.00%)
|
|
|
|
|
Yield (Discount Rate of Cash Flows)
|
5.05% - 5.57% (5.29%)
|
|
|
|
|
|
|
|
Collateralized Mortgage
Obligations
|
21,284,595
|
|
|
|
|
|
76,921,575
|
Discounted Cash Flow
|
Constant Default Rate
|
0.00% - 40.42% (0.11%)
|
|
|
|
|
Constant Prepayment Rate
|
0.00% - 5.00% (0.02%)
|
|
|
|
|
Yield (Discount Rate of Cash Flows)
|
6.24% - 22.05% (9.80%)
|
|
|
|
|
|
|
|
Asset-Backed Securities
|
76,921,575
|
|
|
|
|
|
40,326,903
|
Discounted Cash Flow
|
Yield (Discount Rate of Cash Flows)
|
5.92% - 7.22% (6.66%)
|
|
|
|
|
|
|
|
Commercial
Mortgage-Backed
Securities
|
40,326,903
|
|
|
|
|
|
7,354,995
|
Discounted Cash Flow
|
Yield (Discount Rate of Cash Flows)
|
6.18% (6.18%)
|
|
|
3,116
|
Market Comparable Companies
|
EBITDA Multiple (b)
|
12.42x (12.42x)
|
|
|
-
(c)
|
Terms of Restructuring
|
Expected Recovery
|
0.00%% (0.00%)
|
|
|
|
|
|
|
|
Corporate Bonds
|
7,358,111
|
|
|
|
|
|
3,491
|
Market Comparable Companies
|
EBITDA Multiple (b)
|
12.42x (12.42x)
|
|
|
1
|
Terms of Restructuring
|
Expected Recovery
|
$0.00 ($0.00)
|
|
|
|
|
|
|
|
Common Stocks
|
3,492
|
|
|
|
|
Total
|
$145,894,676
|
|
|
|
|
#
|
The table above does not include certain level 3 investments that are valued by brokers
and Pricing Services. At May 31, 2026, the value of
these investments was $ 693,137,639. The inputs for these investments are not readily
available or cannot be reasonably estimated and are
generally those inputs described in Note A.
|
|
(a)
|
Unobservable inputs were weighted by the relative fair value of the instruments.
|
|
(b)
|
Represents amounts used when the reporting entity has determined that market participants
would take into account such multiples when
pricing the investments.
|
|
(c)
|
Amount rounds to less than one thousand.
|
|
|
|||||||||
|
For the period ended May 31, 2026
|
|||||||||
|
Security Description
|
Value at
February 28,
2026
|
Purchases at
Cost
|
Proceeds from
Sales
|
Net Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation/
(Depreciation)
|
Value at
May 31,
2026
|
Shares at
May 31,
2026
|
Dividend
Income
|
Capital Gain
Distributions
|
|
JPMorgan
U.S. Government
Money Market
Fund Class IM
Shares, 3.58%
(a) (b)
|
$746,585,254
|
$1,594,181,021
|
$1,066,027,017
|
$—
|
$—
|
$1,274,739,258
|
1,274,739,258
|
$8,621,707
|
$—
|
|
|
|
|
(a)
|
Investment in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment Management Inc.
|
|
(b)
|
The rate shown is the current yield as of May 31, 2026.
|