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Neuberger Berman Income Funds – ‘N-Q’ for 1/31/19

On:  Wednesday, 3/27/19, at 3:51pm ET   ·   Effective:  3/27/19   ·   For:  1/31/19   ·   Accession #:  898432-19-433   ·   File #:  811-03802

Previous ‘N-Q’:  ‘N-Q’ on 9/28/18 for 7/31/18   ·   Latest ‘N-Q’:  This Filing

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/27/19  Neuberger Berman Income Funds     N-Q         1/31/19    2:6.4M                                   K&L Gates LLP/DC/FANeuberger Berman Core Bond Fund Class A (NCRAX) — Class C (NCRCX) — Class R6 (NRCRX) — Institutional Class (NCRLX) — Investor Class (NCRIX)Neuberger Berman Core Plus Fund Class A (NCPAX) — Class C (NCPCX) — Class R6 (NCPRX) — Institutional Class (NCPIX)Neuberger Berman Emerging Markets Debt Fund Class A (NERAX) — Class C (NERCX) — Institutional Class (NERIX)Neuberger Berman Floating Rate Income Fund Class A (NFIAX) — Class C (NFICX) — Institutional Class (NFIIX)Neuberger Berman High Income Bond Fund Class A (NHIAX) — Class C (NHICX) — Class R3 (NHIRX) — Class R6 (NRHIX) — Institutional Class (NHILX) — Investor Class (NHINX)Neuberger Berman Municipal High Income Fund Class A (NMHAX) — Class C (NMHCX) — Institutional Class (NMHIX)Neuberger Berman Municipal Impact Fund Class A (NIMAX) — Class C (NIMCX) — Institutional Class (NMIIX)Neuberger Berman Municipal Intermediate Bond Fund Class A (NMNAX) — Class C (NMNCX) — Institutional Class (NMNLX) — Investor Class (NMUIX)Neuberger Berman Short Duration Bond Fund Class A (NSHAX) — Class C (NSHCX) — Class R6 (NRSHX) — Institutional Class (NSHLX) — Investor Class (NSBIX) — Trust Class (NSBTX)Neuberger Berman Short Duration High Income Fund Class A (NHSAX) — Class C (NHSCX) — Institutional Class (NHSIX)Neuberger Berman Strategic Income Fund Class A (NSTAX) — Class C (NSTCX) — Class R6 (NRSIX) — Institutional Class (NSTLX) — Trust Class (NSTTX)Neuberger Berman Unconstrained Bond Fund Class A (NUBAX) — Class C (NUBCX) — Class R6 (NRUBX) — Institutional Class (NUBIX)

Quarterly Schedule of Portfolio Holdings of a Management Investment Company   —   Form N-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-Q         Quarterly Schedule of Portfolio Holdings of a       HTML   2.42M 
                          Management Investment Company                          
 2: EX-99.CERT  Miscellaneous Exhibit                               HTML     14K 


N-Q   —   Quarterly Schedule of Portfolio Holdings of a Management Investment Company


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 C: 
As filed with the Securities and Exchange Commission on March 27, 2019
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-03802
NEUBERGER BERMAN INCOME FUNDS
(Exact Name of Registrant as Specified in Charter)
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
New York, New York 10104-0002
(Address of Principal Executive Offices – Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Joseph V. Amato, Chief Executive Officer and President
Neuberger Berman Income Funds
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
New York, New York 10104-0002
Arthur C. Delibert, Esq.
K&L Gates LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and Addresses of Agents for Service)
Date of fiscal year end:  October 31
Date of reporting period:  January 31, 2019
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of their first and third fiscal quarters, pursuant to Rule 30b1-5 under the Investment Company Act of 1940 (“1940 Act”) (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


Item 1. Schedules of Investments.
Schedule of Investments Core Bond Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
(a)
 
VALUE
(000's omitted)
 
(000's omitted)
 
U.S. Treasury Obligations 19.7%(a)
 
$
1,750
 
U.S. Treasury Bill, 2.33%, due 2/28/19
$
1,747
(b)(c)
       
U.S. Treasury Inflation-Indexed Bonds(d)
     
   
4,369
 
 0.63%, due 4/15/23
 
4,350
 
   
13,762
 
 2.38%, due 1/15/27
 
15,472
 
   
5,889
 
 2.13%, due 2/15/40
 
7,102
 
       
U.S. Treasury Notes
     
   
3,565
 
 2.63%, due 8/15/20
 
3,572
 
   
14,625
 
 2.25%, due 7/31/21 – 8/15/46
 
14,116
 
   
22,080
 
 2.38%, due 8/15/24
 
21,966
 
   
4,720
 
 2.00%, due 11/15/26
 
4,532
 
   
4,265
 
 2.75%, due 8/15/42
 
4,103
 
 
 
Total U.S. Treasury Obligations (Cost $75,592)
 
76,960
 
 
U.S. Government Agency Securities 0.6%
   
1,160
 
Federal Home Loan Bank, 5.50%, due 7/15/36
 
1,494
 
   
700
 
Tennessee Valley Authority, 5.25%, due 9/15/39
 
873
 
 
 
Total U.S. Government Agency Securities (Cost $2,290)
 
2,367
 
 
Mortgage-Backed Securities 42.0%
 
Collateralized Mortgage Obligations 2.0%
   
4,500
 
Angel Oak Mortgage Trust I LLC, Ser. 2019-1, Class A1, 3.92%, due 11/25/48
 
4,518
(e)(f)
   
12
 
Fannie Mae Whole Loan, Ser. 2003-W5, Class A, (1 month USD LIBOR + 0.11%), 2.62%, due 4/25/33
 
12
(g)
   
3,000
 
Freddie Mac Structured Agency Credit Risk Debt Notes, Ser. 2019-DNA1, Class M1, (1 month USD LIBOR + 0.90%), 3.41%, due 1/25/49
 
3,000
(e)(g)
   
250
 
Permanent Master Issuer PLC, Ser. 2018-1A, Class 1A1, (3 month USD LIBOR + 0.38%), 3.17%, due 7/15/58
 
249
(e)(g)
 
7,779
 
Commercial Mortgage-Backed 10.4%
       
Bank
     
   
1,000
 
Ser. 2018-BN11, Class A3, 4.05%, due 3/15/61
 
1,044
 
   
2,789
 
Ser. 2018-BN13, Class A1, 3.22%, due 8/15/61
 
2,806
 
   
1,000
 
Ser. 2018-BN15, Class A4, 4.41%, due 11/15/61
 
1,067
 
   
664
 
CD Mortgage Trust, Ser. 2018-CD7, Class A1, 3.28%, due 8/15/51
 
670
 
   
1,538
 
CGMS Commercial Mortgage Trust, Ser. 2017-B1, Class A1, 2.01%, due 8/15/50
 
1,513
 
       
Citigroup Commercial Mortgage Trust
     
 
 
965
 
Ser. 2013-GC11, Class B, 3.73%, due 4/10/46
 
964
(f)
   
330
 
Ser. 2013-GC17, Class B, 5.10%, due 11/10/46
 
349
(f)
   
4,765
 
Ser. 2014-GC25, Class XA, 1.01%, due 10/10/47
 
226
(f)(h)
   
2,532
 
Ser. 2015-GC27, Class XA, 1.38%, due 2/10/48
 
162
(f)(h)
   
550
 
Ser. 2015-P1, Class A5, 3.72%, due 9/15/48
 
563
 
   
450
 
Ser. 2016-GC36, Class A5, 3.62%, due 2/10/49
 
457
 
   
725
 
Ser. 2017-C4, Class A4, 3.47%, due 10/12/50
 
723
 
   
1,191
 
Ser. 2018-C6, Class A1, 3.30%, due 11/10/51
 
1,203
 
       
Commercial Mortgage Trust
     
   
1,000
 
Ser. 2013-LC6, Class B, 3.74%, due 1/10/46
 
1,003
 
   
6,417
 
Ser. 2014-CR16, Class XA, 1.12%, due 4/10/47
 
239
(f)(h)
   
4,170
 
Ser. 2014-LC15, Class XA, 1.25%, due 4/10/47
 
160
(f)(h)
   
6,293
 
Ser. 2014-CR17, Class XA, 1.06%, due 5/10/47
 
241
(f)(h)
   
3,819
 
Ser. 2014-UBS3, Class XA, 1.27%, due 6/10/47
 
160
(f)(h)
   
4,595
 
Ser. 2014-UBS6, Class XA, 0.95%, due 12/10/47
 
182
(f)(h)
   
485
 
Ser. 2014-CR21, Class AM, 3.99%, due 12/10/47
 
493
 
   
335
 
Ser. 2015-LC21, Class A4, 3.71%, due 7/10/48
 
342
 
   
740
 
Ser. 2015-CR25, Class A4, 3.76%, due 8/10/48
 
757
 
   
1,340
 
Ser. 2015-CR26, Class AM, 4.09%, due 10/10/48
 
1,358
(f)
   
467
 
Ser. 2017-COR2, Class A1, 2.11%, due 9/10/50
 
460
 
       
CSAIL Commercial Mortgage Trust
     
   
353
 
Ser. 2016-C7, Class A5, 3.50%, due 11/15/49
 
352
 
   
1,185
 
Ser. 2015-C1, Class B, 4.04%, due 4/15/50
 
1,193
(f)
   
494
 
Ser. 2017-CX9, Class A1, 2.02%, due 9/15/50
 
485
 
   
1,280
 
Ser. 2017-CX9, Class A5, 3.45%, due 9/15/50
 
1,272
 
   
1,000
 
Ser. 2018-CX11, Class A5, 4.03%, due 4/15/51
 
1,033
(f)
   
1,970
 
Freddie Mac Multifamily Aggregation Risk Transfer Trust, Ser. 2017-KT01, Class A, (1 month USD LIBOR + 0.32%), 2.84%, due 2/25/20
 
1,969
(g)
       
GS Mortgage Securities Trust
     
   
770
 
Ser. 2012-GCJ9, Class B, 3.75%, due 11/10/45
 
769
(e)
   
10,087
 
Ser. 2014-GC18, Class XA, 1.04%, due 1/10/47
 
423
(f)(h)
   
335
 
Ser. 2015-GC32, Class A4, 3.76%, due 7/10/48
 
344
 
   
582
 
Ser. 2015-GC34, Class AAB, 3.28%, due 10/10/48
 
587
 
   
1,075
 
Ser. 2018-GS9, Class A4, 3.99%, due 3/10/51
 
1,111
(f)
       
JPMBB Commercial Mortgage Securities Trust
     
   
700
 
Ser. 2015-C31, Class A3, 3.80%, due 8/15/48
 
718
 
   
355
 
Ser. 2016-C1, Class A5, 3.58%, due 3/15/49
 
359
 
       
Morgan Stanley Bank of America Merrill Lynch Trust
     
   
4,383
 
Ser. 2014-C16, Class XA, 1.12%, due 6/15/47
 
165
(f)(h)
   
710
 
Ser. 2015-C24, Class A4, 3.73%, due 5/15/48
 
726
 
   
481
 
Ser. 2017-C34, Class A1, 2.11%, due 11/15/52
 
475
 
   
1,000
 
Morgan Stanley Capital I Trust, Ser. 2017-H1, Class A5, 3.53%, due 6/15/50
 
1,001
 
       
UBS Commercial Mortgage Trust
     
 
 
500
 
Ser. 2017-C2, Class A4, 3.49%, due 8/15/50
 
498
 
   
631
 
Ser. 2017-C4, Class A1, 2.13%, due 10/15/50
 
622
 
   
1,704
 
Ser. 2018-C14, Class A1, 3.38%, due 12/15/51
 
1,723
 
       
Wells Fargo Commercial Mortgage Trust
     
   
725
 
Ser. 2012-LC5, Class B, 4.14%, due 10/15/45
 
743
 
   
500
 
Ser. 2015-C29, Class A4, 3.64%, due 6/15/48
 
506
 
   
640
 
Ser. 2016-C35, Class B, 3.44%, due 7/15/48
 
627
 
   
225
 
Ser. 2016-LC24, Class A4, 2.94%, due 10/15/49
 
216
 
   
950
 
Ser. 2016-NXS6, Class A4, 2.92%, due 11/15/49
 
915
 
   
652
 
Ser. 2017-C39, Class A1, 1.98%, due 9/15/50
 
640
 
   
580
 
Ser. 2017-C39, Class A5, 3.42%, due 9/15/50
 
574
 
   
611
 
Ser. 2018-C46, Class A1, 3.16%, due 8/15/51
 
615
 
   
500
 
Ser. 2015-C30, Class A4, 3.66%, due 9/15/58
 
507
 
   
445
 
Ser. 2016-LC25, Class A4, 3.64%, due 12/15/59
 
447
 
       
WF-RBS Commercial Mortgage Trust
     
   
1,000
 
Ser. 2012-C8, Class B, 4.31%, due 8/15/45
 
1,021
 
   
6,274
 
Ser. 2014-C25, Class XA, 0.89%, due 11/15/47
 
238
(f)(h)
   
14,749
 
Ser. 2014-C22, Class XA, 0.85%, due 9/15/57
 
514
(f)(h)
 
40,530
 
Fannie Mae 15.6%
       
Pass-Through Certificates
     
   
2,731
 
3.00%, due 5/1/46 – 11/1/46
 
2,683
 
   
12,842
 
3.50%, due 7/1/32 – 3/1/48
 
12,952
 
   
25,892
 
4.00%, due 1/1/41 – 9/1/48
 
26,599
 
   
7,382
 
4.50%, due 4/1/34 – 11/1/48
 
7,701
 
   
2,022
 
5.00%, due 4/1/23 – 10/1/41
 
2,150
 
   
394
 
5.50%, due 5/1/28 – 3/1/41
 
424
 
   
433
 
6.00%, due 4/1/37 – 11/1/38
 
468
 
   
230
 
3.50%, TBA, 30 Year Maturity
 
231
(i)
   
735
 
4.00%, TBA, 15 Year Maturity
 
756
(i)
   
3,800
 
4.00%, TBA, 30 Year Maturity
 
3,890
(i)
   
2,345
 
4.50%, TBA, 30 Year Maturity
 
2,437
(i)
   
600
 
5.00%, TBA, 30 Year Maturity
 
631
(i)
 
60,922
 
Freddie Mac 10.3%
 
       
Pass-Through Certificates
     
   
2,944
 
3.00%, due 2/1/32 – 2/1/47
 
2,897
 
   
13,441
 
3.50%, due 4/1/32 – 3/1/48
 
13,566
 
   
15,173
 
4.00%, due 11/1/40 – 8/1/48
 
15,589
 
   
3,205
 
4.50%, due 6/1/39 – 8/1/48
 
3,343
 
   
844
 
5.00%, due 5/1/23 – 5/1/41
 
888
 
   
193
 
5.50%, due 12/1/22 – 11/1/38
 
206
 
   
11
 
6.00%, due 12/1/37
 
12
 
   
3
 
6.50%, due 11/1/25
 
3
 
   
2,280
 
4.00%, TBA, 30 Year Maturity
 
2,335
(i)
   
1,545
 
4.50%, TBA, 30 Year Maturity
 
1,606
(i)
 
40,445
 
Ginnie Mae 3.7%
       
Pass-Through Certificates
     
   
3,984
 
3.50%, due 1/20/43 – 12/20/47
 
4,040
 
   
3,079
 
4.00%, due 11/20/44 – 1/20/49
 
3,172
 
   
1,569
 
4.50%, due 3/20/48 – 9/20/48
 
1,630
 
 
 
1,690
 
4.00%, TBA, 30 Year Maturity
 
1,738
(i)
   
2,520
 
4.50%, TBA, 30 Year Maturity
 
2,615
(i)
   
1,280
 
5.00%, TBA, 30 Year Maturity
 
1,336
(i)
 
14,531
 
 
 
Total Mortgage-Backed Securities (Cost $167,269)
 
164,207
 
 
Corporate Bonds 29.8%
 
Agriculture 0.5%
   
2,595
 
BAT Capital Corp., 4.54%, due 8/15/47
 
2,130
 
 
Auto Manufacturers 0.4%
   
1,545
 
General Motors Financial Co., Inc., 5.10%, due 1/17/24
 
1,570
 
 
Banks 8.6%
   
1,295
 
Banco Santander SA, 3.80%, due 2/23/28
 
1,212
 
       
Bank of America Corp.
     
   
1,535
 
(3 month USD LIBOR + 0.37%), 2.74%, due 1/23/22
 
1,523
(g)
   
1,005
 
4.45%, due 3/3/26
 
1,031
 
   
1,410
 
(3 month USD LIBOR + 1.07%), 3.97%, due 3/5/29
 
1,418
(g)
   
760
 
Barclays PLC, 4.38%, due 1/12/26
 
747
 
   
1,910
 
Citibank N.A., 2.00%, due 3/20/19
 
1,908
 
       
Citigroup, Inc.
     
   
1,990
 
(3 month USD LIBOR + 1.56%), 3.89%, due 1/10/28
 
1,982
(g)
   
695
 
(3 month USD LIBOR + 1.15%), 3.52%, due 10/27/28
 
672
(g)
       
Goldman Sachs Group, Inc.
     
   
625
 
2.60%, due 4/23/20
 
622
 
   
1,310
 
(3 month USD LIBOR + 1.51%), 3.69%, due 6/5/28
 
1,272
(g)
   
2,525
 
(3 month USD LIBOR + 1.16%), 3.81%, due 4/23/29
 
2,458
(g)(j)
   
1,310
 
(3 month USD LIBOR + 1.30%), 4.22%, due 5/1/29
 
1,316
(g)
   
1,030
 
(3 month USD LIBOR + 1.37%), 4.02%, due 10/31/38
 
971
(g)
   
1,000
 
5.15%, due 5/22/45
 
1,023
 
   
2,045
 
HSBC Holdings PLC, (5 year USD ICE Swap + 3.75%), 6.00%, due 5/22/27
 
1,968
(g)(j)(k)
       
JPMorgan Chase & Co.
     
   
1,545
 
(3 month USD LIBOR + 1.16%), 3.22%, due 3/1/25
 
1,520
(g)
   
1,900
 
(3 month USD LIBOR + 1.12%), 4.01%, due 4/23/29
 
1,921
(g)
   
975
 
(3 month USD LIBOR + 1.36%), 3.88%, due 7/24/38
 
933
(g)
   
895
 
(3 month USD LIBOR + 1.22%), 3.90%, due 1/23/49
 
836
(g)
   
2,360
 
KFW, 2.38%, due 12/29/22
 
2,343
(j)
   
2,355
 
Morgan Stanley, (3 month USD LIBOR + 1.34%), 3.59%, due 7/22/28
 
2,300
(g)(j)
       
Royal Bank of Scotland Group PLC
     
 
 
1,395
 
4.80%, due 4/5/26
 
1,398
 
   
630
 
(3 month USD LIBOR + 1.91%), 5.08%, due 1/27/30
 
631
(g)
   
2,000
 
Westpac Banking Corp., (5 year USD ICE Swap + 2.89%), 5.00%, due 9/21/27
 
1,732
(g)(k)
 
33,737
 
Beverages 1.8%
   
660
 
Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, Inc., 4.70%, due 2/1/36
 
633
(e)
       
Anheuser-Busch InBev Worldwide, Inc.
     
   
865
 
4.60%, due 4/15/48
 
786
 
   
1,810
 
4.75%, due 4/15/58
 
1,611
 
   
4,000
 
5.80%, due 1/23/59
 
4,199
 
 
7,229
 
Biotechnology 0.3%
   
1,195
 
Celgene Corp., 3.90%, due 2/20/28
 
1,183
 
 
Computers 2.0%
       
Apple, Inc.
     
   
1,130
 
3.00%, due 2/9/24
 
1,138
 
   
1,155
 
4.65%, due 2/23/46
 
1,259
 
       
Diamond 1 Finance Corp./Diamond 2 Finance Corp.
     
   
2,205
 
5.45%, due 6/15/23
 
2,306
(e)(j)
   
1,240
 
6.02%, due 6/15/26
 
1,296
(e)
       
HP Enterprise Co.
     
   
1,245
 
3.60%, due 10/15/20
 
1,253
 
   
440
 
4.90%, due 10/15/25
 
460
 
 
7,712
 
Diversified Financial Services 0.4%
   
1,700
 
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 4.45%, due 10/1/25
 
1,664
 
 
Food 0.8%
   
1,615
 
Grupo Bimbo SAB de CV, 4.70%, due 11/10/47
 
1,498
(e)
   
1,520
 
Kroger Co., 5.40%, due 1/15/49
 
1,521
 
 
3,019
 
Insurance 0.3%
   
1,215
 
AXA Equitable Holdings, Inc., 5.00%, due 4/20/48
 
1,134
 
 
Machinery-Diversified 0.3%
   
1,205
 
Wabtec Corp., 4.15%, due 3/15/24
 
1,172
 
 
Media 2.2%
   
1,450
 
Charter Communications Operating LLC/Charter Communications Operating Capital, 3.58%, due 7/23/20
 
1,454
 
       
Comcast Corp.
     
   
1,225
 
3.70%, due 4/15/24
 
1,252
 
   
1,390
 
4.00%, due 8/15/47
 
1,302
 
   
1,620
 
4.95%, due 10/15/58
 
1,714
 
   
2,755
 
Fox Corp., 5.58%, due 1/25/49
 
2,924
(e)
 
8,646
 
Miscellaneous Manufacturer 1.0%
   
4,560
 
General Electric Co., Ser. D, (3 month USD LIBOR + 3.33%), 5.00%, due 1/21/21
 
4,013
(g)(j)(k)
 
Oil & Gas 1.8%
   
2,000
 
Apache Corp., 4.38%, due 10/15/28
 
1,953
 
 
 
905
 
Concho Resources, Inc., 4.88%, due 10/1/47
 
917
 
   
3,200
 
Marathon Oil Corp., 4.40%, due 7/15/27
 
3,208
(j)
   
935
 
Petroleos Mexicanos, 6.50%, due 3/13/27
 
897
 
 
6,975
 
Pharmaceuticals 3.0%
       
AbbVie, Inc.
     
   
1,215
 
2.50%, due 5/14/20
 
1,208
 
   
1,110
 
4.70%, due 5/14/45
 
1,035
 
       
CVS Health Corp.
     
   
1,215
 
4.30%, due 3/25/28
 
1,231
 
   
3,105
 
5.05%, due 3/25/48
 
3,192
(j)
   
1,165
 
Halfmoon Parent, Inc., 4.80%, due 8/15/38
 
1,189
(e)
       
Shire Acquisitions Investments Ireland DAC
     
   
1,685
 
1.90%, due 9/23/19
 
1,672
 
   
1,530
 
2.40%, due 9/23/21
 
1,489
 
   
830
 
3.20%, due 9/23/26
 
773
 
 
11,789
 
Pipelines 2.5%
       
Energy Transfer Partners L.P.
     
   
650
 
4.15%, due 10/1/20
 
656
 
   
1,300
 
5.25%, due 4/15/29
 
1,346
 
   
1,335
 
5.80%, due 6/15/38
 
1,361
 
   
1,335
 
6.25%, due 4/15/49
 
1,422
 
   
1,535
 
Kinder Morgan Energy Partners L.P., 4.15%, due 2/1/24
 
1,562
 
   
1,520
 
Kinder Morgan, Inc., 5.55%, due 6/1/45
 
1,592
 
   
1,910
 
MPLX L.P., 4.70%, due 4/15/48
 
1,733
 
 
9,672
 
Real Estate Investment Trusts 0.3%
   
1,135
 
Corporate Office Properties L.P., 3.60%, due 5/15/23
 
1,110
 
 
Retail 0.6%
   
2,240
 
Walmart, Inc., 3.40%, due 6/26/23
 
2,296
 
 
Savings & Loans 0.2%
   
690
 
Nationwide Building Society, (3 month USD LIBOR + 1.45%), 4.30%, due 3/8/29
 
673
(e)(g)
 
Semiconductors 1.4%
       
Broadcom Corp./Broadcom Cayman Finance Ltd.
     
   
1,425
 
2.38%, due 1/15/20
 
1,414
 
   
2,595
 
3.88%, due 1/15/27
 
2,392
(j)
   
1,515
 
Microchip Technology, Inc., 4.33%, due 6/1/23
 
1,492
(e)
 
5,298
 
Telecommunications 1.3%
       
AT&T, Inc.
     
   
2,045
 
5.45%, due 3/1/47
 
2,092
(j)
   
1,200
 
4.50%, due 3/9/48
 
1,080
 
   
1,825
 
Vodafone Group PLC, 3.75%, due 1/16/24
 
1,821
 
 
4,993
 
Transportation 0.1%
   
505
 
FedEx Corp., 4.95%, due 10/17/48
 
503
 
 
 
Total Corporate Bonds (Cost $118,531)
 
116,518
 
 
Asset-Backed Securities 10.3%
   
46
 
Ally Auto Receivables Trust, Ser. 2017-3, Class A2, 1.53%, due 3/16/20
 
46
 
   
1,140
 
AM Capital Funding LLC, Ser. 2018-1, Class A, 4.98%, due 12/15/23
 
1,165
(e)
 
 
530
 
American Express Credit Account Master Trust, Ser. 2017-4, Class A, 1.64%, due 12/15/21
 
528
 
       
Asset Backed Funding Certificates
     
   
198
 
Ser. 2003-OPT1, Class A3, (1 month USD LIBOR + 0.68%), 3.19%, due 4/25/33
 
194
(g)
   
858
 
Ser. 2004-OPT3, Class A4, (1 month USD LIBOR + 0.78%), 3.29%, due 11/25/33
 
844
(g)
   
6,740
 
Capital One Multi-Asset Execution Trust, Ser. 2017-A1, Class A1, 2.00%, due 1/17/23
 
6,686
 
   
1,100
 
Centex Home Equity Loan Trust, Ser. 2005-D, Class M3, (1 month USD LIBOR + 0.48%), 2.99%, due 10/25/35
 
1,101
(g)
   
15
 
Chase Funding Mortgage Loan Asset-Backed Certificates, Ser. 2004-1, Class 2A2, (1 month USD LIBOR + 0.46%), 2.97%, due 12/25/33
 
15
(g)
       
Chase Issuance Trust
     
   
3,490
 
Ser. 2016-A2, Class A, 1.37%, due 6/15/21
 
3,471
 
   
5,900
 
Ser. 2012-A4, Class A4, 1.58%, due 8/15/21
 
5,863
 
       
Citibank Credit Card Issuance Trust
     
   
6,540
 
Ser. 2016-A1, Class A1, 1.75%, due 11/19/21
 
6,489
 
   
2,940
 
Ser. 2018-A1, Class A1, 2.49%, due 1/20/23
 
2,927
 
   
18
 
Citigroup Mortgage Loan Trust, Inc., Ser. 2006-WFH1, Class M2, (1 month USD LIBOR + 0.56%), 3.07%, due 1/25/36
 
18
(g)
   
205
 
Countrywide Asset-Backed Certificates, Ser. 2004-5, Class 1A, (1 month USD LIBOR + 0.50%), 3.01%, due 10/25/34
 
201
(g)
   
6
 
Fannie Mae Grantor Trust, Ser. 2002-T5, Class A1, (1 month USD LIBOR + 0.24%), 2.75%, due 5/25/32
 
6
(g)
   
1,905
 
Home Equity Asset Trust, Ser. 2003-5, Class A1, (1 month USD LIBOR + 0.58%), 3.09%, due 12/25/33
 
1,842
(g)
       
Morgan Stanley ABS Capital I, Inc. Trust
     
   
408
 
Ser. 2003-HE1, Class M1, (1 month USD LIBOR + 1.20%), 3.71%, due 5/25/33
 
405
(g)
   
679
 
Ser. 2004-NC1, Class M1, (1 month USD LIBOR + 1.05%), 3.56%, due 12/27/33
 
676
(g)
       
Navient Student Loan Trust
     
   
2
 
Ser. 2016-6A, Class A1, (1 month USD LIBOR + 0.48%), 2.99%, due 3/25/66
 
2
(e)(g)
   
375
 
Ser. 2017-3A, Class A1, (1 month USD LIBOR + 0.30%), 2.81%, due 7/26/66
 
375
(e)(g)
   
660
 
Ser. 2017-4A, Class A1, (1 month USD LIBOR + 0.24%), 2.75%, due 9/27/66
 
660
(e)(g)
   
315
 
Ser. 2018-2A, Class A1, (1 month USD LIBOR + 0.24%), 2.75%, due 3/25/67
 
315
(e)(g)
   
490
 
Ser. 2018-3A, Class A1, (1 month USD LIBOR + 0.27%), 2.78%, due 3/25/67
 
490
(e)(g)
   
464
 
Popular ABS Mortgage Pass-Through Trust, Ser. 2005-2, Class AV1B, (1 month USD LIBOR + 0.26%), 2.77%, due 4/25/35
 
463
(g)
   
1,350
 
Residential Asset  Securities Corp., Ser. 2005-KS12, Class M2, (1 month USD LIBOR + 0.46%), 2.97%, due 1/25/36
 
1,334
(g)
   
336
 
Residential Asset Mortgage Products, Inc., Ser. 2005-RS4, Class M3, (1 month USD LIBOR + 0.48%), 2.99%, due 4/25/35
 
336
(g)
   
360
 
Residential Asset Securities Corp., Ser. 2005-KS9, Class M5, (1 month USD LIBOR + 0.63%), 3.14%, due 10/25/35
 
362
(g)
   
9
 
Saxon Asset Securities Trust, Ser. 2004-1, Class A, (1 month USD LIBOR + 0.54%), 3.05%, due 3/25/35
 
8
(g)
   
4
 
Specialty Underwriting & Residential Finance, Ser. 2003-BC1, Class A, (1 month USD LIBOR + 0.68%), 3.19%, due 1/25/34
 
4
(g)
   
81
 
Toyota Auto Receivables Owner Trust, Ser. 2017-B, Class A2A, 1.46%, due 1/15/20
 
81
 
   
1,512
 
Verizon Owner Trust, Ser. 2016-2A, Class A, 1.68%, due 5/20/21
 
1,505
(e)
       
World Omni Auto Receivables Trust
     
 
 
68
 
Ser. 2018-A, Class A2, 2.19%, due 5/17/21
 
67
 
   
1,600
 
Ser. 2018-C, Class A2, 2.80%, due 1/18/22
 
1,600
 
 
 
Total Asset-Backed Securities (Cost $39,651)
 
40,079
 
 
Foreign Government Securities 0.4%
 
ZAR
25,390
 
Republic of South Africa Government Bond, 6.50%, due 2/28/41 (Cost  $1,618)
 
1,376
 
   
NUMBER OF
SHARES
 
 
Short-Term Investments 0.5%
 
Investment Companies 0.5%
   
1,993,040
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(l)  (Cost  $1,993)
 
1,993
(j)
       
 
Total Investments 103.3% (Cost $406,944)
403,500
 
       
 
Liabilities Less Other Assets (3.3)%
(12,807)
(m)
       
 
Net Assets 100.0%
$390,693
 
 
(a)
 
Principal amount is stated in the currency in which the security is denominated.
(b)
 
Rate shown was the discount rate at the date of purchase.
(c)
 
All or a portion of the security is pledged as collateral for futures.
(d)
 
Index-linked bond whose principal amount adjusts according to a government retail price index.
(e)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $25,059,000, which represents 6.4% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(f)
 
Variable or floating rate security where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of January 31, 2019.
(g)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(h)
 
Interest only security. These securities represent the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding.
(i)
 
TBA (To Be Announced) Securities are purchased/sold on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total value of all such securities (excluding forward sales contracts, if any) at January 31, 2019, amounted to approximately $17,575,000, which represents 4.5% of net assets of the Fund.
(j)
 
All or a portion of this security is segregated in connection with obligations for to be announced securities and/or futures with a total value of approximately $26,930,000.
(k)
 
Perpetual Bond Security. The rate reflected was the rate in effect on January 31, 2019. The maturity date reflects the next call date.
(l)
 
Represents 7-day effective yield as of January 31, 2019.
(m)
 
Includes the impact of the Fund's open positions in derivatives at January 31, 2019.
 
 
See Notes to Schedule of Investments

Schedule of Investments Core Bond Fund^
(Unaudited) (cont’d)
 
 
Derivative Instruments

Futures contracts ("futures")
 
 
At January 31, 2019, open positions in futures for the Fund were as follows:
 
Long Futures:
 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
 
3/2019
 
3
Australian Dollar
 
218,100
$
1,675
 
3/2019
 
5
Euro
 
717,906
 
3,856
 
3/2019
 
106
U.S. Treasury Note, 10 Year
 
12,981,688
 
292,469
 
3/2019
 
47
U.S. Treasury Ultra Long Bond
 
7,572,875
 
246,256
 
3/2019
 
96
U.S. Treasury Note, 2 Year
 
20,383,500
 
30,916
 
3/2019
 
49
U.S. Treasury Note, 5 Year
 
5,628,109
 
89,961
 
Total Long Positions
$
47,502,178
$
665,133
 
Short Futures:
                 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
 
3/2019
 
25
Euro-Bund
 
(4,740,645)
$
(48,943)
 
3/2019
 
19
Euro-Buxl Bond, 30 Year
 
(4,041,970)
 
(190,073)
 
3/2019
 
40
South African Rand
 
(1,499,000)
 
(116,500)
 
3/2019
 
52
U.S. Treasury Long Bond
 
(7,627,750)
 
(376,959)
 
3/2019
 
55
U.S. Treasury Note, Ultra 10 Year
 
(7,187,813)
 
(198,721)
 
7/2019
 
1
Federal Funds, 30 day
 
(406,741)
 
(229)
 
Total Short Positions
$
(25,503,919)
$
(931,425)
 
Total Futures
$
(266,292)
 
 
At January 31, 2019, the Fund had $287,767 deposited in a segregated account to cover margin requirements on open futures. At January 31, 2019, the Fund had securities pledged in the amount of $1,197,874 to cover collateral requirements on open futures.
 
 
See Notes to Schedule of Investments

Schedule of Investments Core Bond Fund^
(Unaudited) (cont’d)
 

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
U.S. Treasury Obligations
 
$
   
$
76,960
   
$
   
$
76,960
 
U.S. Government Agency Securities
   
     
2,367
     
     
2,367
 
Mortgage-Backed Securities(a)
   
     
164,207
     
     
164,207
 
Corporate Bonds(a)
   
     
116,518
     
     
116,518
 
Asset-Backed Securities
   
     
40,079
     
     
40,079
 
Foreign Government Securities
   
     
1,376
     
     
1,376
 
Short-Term Investments
   
     
1,993
     
     
1,993
 
Total Investments
 
$
   
$
403,500
   
$
   
$
403,500
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of January 31, 2019:
 
Other Financial Instruments
(000's omitted)
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
Futures(a)
               
Assets
 
$
665
   
$
   
$
   
$
665
 
Liabilities
   
(931
)
   
     
     
(931
)
Total
 
$
(266
)
 
$
   
$
   
$
(266
)
 
(a)
Futures are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^  A balance indicated with a “-“, either reflects a zero balance or an amount that rounds to less than 1.
 
 
 
 
See Notes to Schedule of Investments
 

Schedule of Investments Core Plus Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
(a)
 
VALUE
(000's omitted)
 
(000's omitted)
 
U.S. Treasury Obligations 11.8%
 
$
100
 
U.S. Treasury Bill, 2.33%, due 2/28/19
$
100
(b)(c)
   
40
 
U.S. Treasury Bonds, 5.38%, due 2/15/31
 
51
 
       
U.S. Treasury Inflation-Indexed Bonds(d)
     
   
6
 
 2.38%, due 1/15/27
 
7
 
   
78
 
 3.63%, due 4/15/28
 
97
 
   
154
 
 3.88%, due 4/15/29
 
199
 
   
169
 
 2.13%, due 2/15/40
 
204
 
       
U.S. Treasury Notes
     
   
150
 
 1.00%, due 10/15/19
 
148
 
   
215
 
 2.25%, due 7/31/21 – 8/15/46
 
204
 
   
35
 
 2.13%, due 12/31/21
 
35
 
   
75
 
 2.38%, due 8/15/24
 
75
 
 
 
Total U.S. Treasury Obligations (Cost $1,090)
 
1,120
 
 
Mortgage-Backed Securities 45.4%
 
Collateralized Mortgage Obligations 6.5%
       
Fannie Mae Connecticut Avenue Securities
     
   
55
 
Ser. 2017-C04, Class 2M2, (1 month USD LIBOR + 2.85%), 5.36%, due 11/25/29
 
57
(e)
   
100
 
Ser. 2017-C05, Class 1M2, (1 month USD LIBOR + 2.20%), 4.71%, due 1/25/30
 
102
(e)(f)
   
20
 
Ser. 2017-C06, Class 1M2, (1 month USD LIBOR + 2.65%), 5.16%, due 2/25/30
 
21
(e)
   
20
 
Ser. 2017-C06, Class 2M2, (1 month USD LIBOR + 2.80%), 5.31%, due 2/25/30
 
21
(e)
   
40
 
Ser. 2017-C07, Class 2M2, (1 month USD LIBOR + 2.50%), 5.01%, due 5/25/30
 
41
(e)
   
20
 
Ser. 2018-C01, Class 1M2, (1 month USD LIBOR + 2.25%), 4.76%, due 7/25/30
 
20
(e)
       
Freddie Mac Structured Agency Credit Risk Debt Notes
     
   
250
 
Ser. 2017-HQA2, Class M2, (1 month USD LIBOR + 2.65%), 5.16%, due 12/25/29
 
258
(e)
   
40
 
Ser. 2018-DNA1, Class M2, (1 month USD LIBOR + 1.80%), 4.31%, due 7/25/30
 
39
(e)
   
60
 
Ser. 2018-HQA1, Class M2, (1 month USD LIBOR + 2.30%), 4.81%, due 9/25/30
 
59
(e)
 
618
 
Commercial Mortgage-Backed 4.5%
       
Citigroup Commercial Mortgage Trust
     
   
25
 
Ser. 2013-GC11, Class B, 3.73%, due 4/10/46
 
25
(g)
   
10
 
Ser. 2013-GC17, Class B, 5.10%, due 11/10/46
 
11
(g)
   
30
 
Ser. 2018-C6, Class A1, 3.30%, due 11/10/51
 
30
 
       
Commercial Mortgage Trust
     
   
35
 
Ser. 2014-UBS2, Class ASB, 3.47%, due 3/10/47
 
35
 
   
10
 
Ser. 2014-CR21, Class AM, 3.99%, due 12/10/47
 
10
 
   
60
 
CSAIL Commercial Mortgage Trust, Ser. 2015-C1, Class B, 4.04%, due 4/15/50
 
60
(g)
       
GS Mortgage Securities Trust
     
   
25
 
Ser. 2012-GCJ7, Class B, 4.74%, due 5/10/45
 
26
 
   
20
 
Ser. 2012-GCJ9, Class B, 3.75%, due 11/10/45
 
20
(h)
   
30
 
Morgan Stanley Bank of America Merrill Lynch Trust, Ser. 2013-C9, Class AAB, 2.66%, due 5/15/46
 
29
 
   
15
 
Morgan Stanley Capital I Trust, Ser. 2018-L1, Class B, 4.72%, due 10/15/51
 
16
(g)
       
UBS Commercial Mortgage Trust
     
 
 
39
 
Ser. 2018-C15, Class A1, 3.32%, due 12/15/51
 
40
 
   
39
 
Ser. 2018-C14, Class A1, 3.38%, due 12/15/51
 
40
 
       
Wells Fargo Commercial Mortgage Trust
     
   
45
 
Ser. 2012-LC5, Class B, 4.14%, due 10/15/45
 
46
 
   
45
 
Ser. 2016-C35, Class B, 3.44%, due 7/15/48
 
44
 
 
432
 
Fannie Mae 17.8%
 
       
Pass-Through Certificates
     
   
51
 
3.00%, due 11/1/45
 
50
 
   
539
 
3.50%, due 8/1/45 – 12/1/47
 
545
 
   
526
 
4.00%, due 2/1/45 – 9/1/48
 
538
 
   
120
 
4.00%, TBA, 30 Year Maturity
 
123
(i)
   
345
 
4.50%, TBA, 30 Year Maturity
 
358
(i)
   
75
 
5.00%, TBA, 30 Year Maturity
 
79
(i)
 
1,693
 
Freddie Mac 14.3%
 
       
Pass-Through Certificates
     
   
97
 
3.00%, due 11/1/46 
 
95
 
   
432
 
3.50%, due 11/1/42 – 3/1/48
 
435
 
   
452
 
4.00%, due 1/1/40 – 7/1/48
 
465
 
   
160
 
4.00%, TBA, 30 Year Maturity
 
164
(i)
   
195
 
4.50%, TBA, 30 Year Maturity
 
203
(i)
 
1,362
 
Ginnie Mae 2.3%
       
Pass-Through Certificates
     
   
49
 
 4.50%, due 8/20/48
 
51
 
   
160
 
4.50%, TBA, 30 Year Maturity
 
166
(i)
 
217
 
 
 
Total Mortgage-Backed Securities (Cost $4,326)
 
4,322
 
 
Corporate Bonds 33.5%
 
Agriculture 0.6%
   
70
 
BAT Capital Corp., 4.54%, due 8/15/47
 
57
 
 
Auto Manufacturers 2.9%
   
100
 
Ford Motor Credit Co. LLC, 3.66%, due 9/8/24
 
90
(f)
   
40
 
General Motors Co., 6.75%, due 4/1/46
 
41
 
   
35
 
General Motors Financial Co., Inc., 3.15%, due 6/30/22
 
34
 
 
EUR
100
 
Volkswagen Int'l Finance NV, (10 year EUR Swap + 3.37%), 3.88%, due 6/14/27
 
107
(e)(f)(j)(k)
 
272
 
Banks 8.2%
 
$
40
 
Bank of America Corp., (3 month USD LIBOR + 1.07%), 3.97%, due 3/5/29
 
40
(e)
       
Citigroup, Inc.
     
   
15
 
(3 month USD LIBOR + 1.56%), 3.89%, due 1/10/28
 
15
(e)
   
20
 
(3 month USD LIBOR + 1.15%), 3.52%, due 10/27/28
 
19
(e)
   
60
 
Citizens Financial Group, Inc., Ser. B, (3 month USD LIBOR + 3.00%), 6.00%, due 7/6/23
 
57
(e)(k)
   
60
 
Fifth Third Bancorp, (3 month USD LIBOR + 3.03%), 5.10%, due 6/30/23
 
56
(e)(k)
   
50
 
Goldman Sachs Group, Inc., 4.25%, due 10/21/25
 
51
 
   
100
 
HSBC Holdings PLC, (5 year USD ICE Swap + 3.75%), 6.00%, due 5/22/27
 
96
(e)(k)
   
90
 
Morgan Stanley, 5.00%, due 11/24/25
 
95
 
 
 
100
 
Royal Bank of Scotland Group PLC, (3 month USD LIBOR + 1.48%), 3.50%, due 5/15/23
 
98
(e)
   
200
 
UBS Group Funding Switzerland AG, (5 year USD Swap + 4.59%), 6.88%, due 8/7/25
 
200
(e)(f)(j)(k)
   
55
 
Westpac Banking Corp., (5 year USD ICE Swap + 2.89%), 5.00%, due 9/21/27
 
48
(e)(k)
 
775
 
Beverages 1.3%
       
Anheuser-Busch InBev Worldwide, Inc.
     
   
25
 
4.60%, due 4/15/48
 
23
 
   
95
 
5.80%, due 1/23/59
 
99
 
 
122
 
Computers 2.0%
   
185
 
Diamond 1 Finance Corp./Diamond 2 Finance Corp., 5.45%, due 6/15/23
 
194
(f)(h)
 
Diversified Financial Services 1.0%
   
100
 
Discover Financial Services, 4.10%, due 2/9/27
 
97
 
 
Food 0.7%
       
Kroger Co.
     
   
35
 
3.88%, due 10/15/46
 
28
 
   
35
 
5.40%, due 1/15/49
 
35
 
 
63
 
Gas 1.4%
 
GBP
100
 
Centrica PLC, (5 year GBP Swap + 3.61%), 5.25%, due 4/10/75
 
132
(e)(f)(j)
 
Insurance 0.4%
 
$
35
 
AXA Equitable Holdings, Inc., 5.00%, due 4/20/48
 
33
 
 
Machinery-Diversified 0.3%
   
30
 
Wabtec Corp., 4.15%, due 3/15/24
 
29
 
 
Media 3.2%
 
EUR
100
 
Bertelsmann SE & Co. KGaA, (5 year EUR Swap + 3.21%), 3.50%, due 4/23/75
 
111
(e)(f)(j)
       
Comcast Corp.
     
 
$
40
 
4.00%, due 8/15/47
 
37
 
   
45
 
4.95%, due 10/15/58
 
48
 
       
Discovery Communications LLC
     
   
100
 
4.90%, due 3/11/26
 
102
(f)
   
10
 
5.20%, due 9/20/47
 
10
 
 
308
 
Mining 1.1%
   
100
 
Glencore Funding LLC, 4.63%, due 4/29/24
 
101
(f)(h)
 
Miscellaneous Manufacturers 1.0%
   
110
 
General Electric Co., Ser. D, (3 month USD LIBOR + 3.33%), 5.00%, due 1/21/21
 
97
(e)(f)(k)
 
Oil & Gas 2.4%
   
50
 
Canadian Natural Resources Ltd., 6.25%, due 3/15/38
 
57
 
   
15
 
Concho Resources, Inc., 4.88%, due 10/1/47
 
15
 
   
65
 
Marathon Oil Corp., 4.40%, due 7/15/27
 
65
 
   
100
 
Petroleos Mexicanos, 4.63%, due 9/21/23
 
95
 
 
232
 
Pharmaceuticals 1.2%
       
CVS Health Corp.
     
   
35
 
4.30%, due 3/25/28
 
36
 
   
80
 
5.05%, due 3/25/48
 
82
 
 
118
 
Pipelines 3.7%
       
Energy Transfer Operating L.P.
     
 
 
45
 
Ser. B, (3 month USD LIBOR + 4.16%), 6.63%, due 2/15/28
 
40
(e)(k)
   
35
 
5.80%, due 6/15/38
 
36
 
   
30
 
6.25%, due 4/15/49
 
32
 
   
100
 
Enterprise Products Operating LLC, Ser. E, (3 month USD LIBOR + 3.03%), 5.25%, due 8/16/77
 
88
(e)(f)
   
50
 
Kinder Morgan Energy Partners L.P., 5.50%, due 3/1/44
 
52
 
   
100
 
MPLX L.P., 4.88%, due 12/1/24
 
104
(f)
 
352
 
Semiconductors 1.0%
   
60
 
Broadcom Corp./Broadcom Cayman Finance Ltd., 3.88%, due 1/15/27
 
55
 
   
40
 
Microchip Technology, Inc., 4.33%, due 6/1/23
 
40
(h)
 
95
 
Telecommunications 1.1%
 
EUR
100
 
Telefonica Europe BV, (5 year EUR Swap + 2.33%), 2.63%, due 6/7/23
 
108
(e)(f)(j)(k)
 
 
Total Corporate Bonds (Cost $3,389)
 
3,185
 
 
Asset-Backed Securities 2.0%
 
$
3
 
Ally Auto Receivables Trust, Ser. 2017-3, Class A2, 1.53%, due 3/16/20
 
3
 
   
36
 
Bear Stearns Asset-Backed Securities I Trust, Ser. 2004-HE10, Class M1, (1 month USD LIBOR + 0.98%), 3.49%, due 12/25/34
 
36
(e)
   
30
 
Centex Home Equity Loan Trust, Ser. 2005-D, Class M4, (1 month USD LIBOR + 0.61%), 3.12%, due 10/25/35
 
29
(e)
   
37
 
Countrywide Asset-Backed Certificates, Ser. 2004-BC5, Class M5, (1 month USD LIBOR + 1.50%), 4.01%, due 10/25/34
 
38
(e)
   
33
 
Long Beach Mortgage Loan Trust, Ser. 2004-4, Class M1, (1 month USD LIBOR + 0.90%), 3.41%, due 10/25/34
 
32
(e)
   
34
 
Navient Student Loan Trust, Ser. 2017-4A, Class A1, (1 month USD LIBOR + 0.24%), 2.75%, due 9/27/66
 
34
(e)(h)
   
18
 
Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates, Ser. 2004-1, Class 2A1, (1 month USD LIBOR + 0.30%), 2.81%, due 4/25/34
 
18
(e)
 
 
Total Asset-Backed Securities (Cost $191)
 
190
 
 
Foreign Government Securities 13.8%
   
30
 
Bolivian Government International Bond, 4.50%, due 3/20/28
 
27
(h)
       
Brazilian Government International Bond
     
   
45
 
2.63%, due 1/5/23
 
43
 
   
25
 
5.63%, due 2/21/47
 
25
 
       
Colombia Government International Bond
     
   
30
 
4.00%, due 2/26/24
 
30
 
   
20
 
3.88%, due 4/25/27
 
20
 
   
40
 
Costa Rica Government International Bond, 7.16%, due 3/12/45
 
36
(j)
       
Dominican Republic International Bond
     
   
30
 
5.88%, due 4/18/24
 
31
(h)
   
25
 
6.88%, due 1/29/26
 
27
(h)
   
60
 
Guatemala Government Bond, 4.38%, due 6/5/27
 
57
(h)
   
30
 
Hungary Government International Bond, 7.63%, due 3/29/41
 
43
 
       
Indonesia Government International Bond
     
   
70
 
3.70%, due 1/8/22
 
70
(h)
   
20
 
4.35%, due 1/8/27
 
20
(h)
   
70
 
Kazakhstan Government International Bond, 5.13%, due 7/21/25
 
75
(h)
   
30
 
Mexico Government International Bond, 4.35%, due 1/15/47
 
27
 
       
Morocco Government International Bond
     
 
 
60
 
4.25%, due 12/11/22
 
61
(h)
   
20
 
5.50%, due 12/11/42
 
21
(h)
   
25
 
Namibia International Bond, 5.25%, due 10/29/25
 
24
(h)
       
Oman Government International Bond
     
   
30
 
3.88%, due 3/8/22
 
29
(h)
   
20
 
5.38%, due 3/8/27
 
18
(h)
   
20
 
6.50%, due 3/8/47
 
17
(h)
       
Panama Government International Bond
     
   
30
 
3.75%, due 3/16/25
 
30
 
   
20
 
3.88%, due 3/17/28
 
20
 
   
20
 
4.50%, due 5/15/47
 
20
 
   
30
 
Paraguay Government International Bond, 4.70%, due 3/27/27
 
31
(h)
   
45
 
Peruvian Government International Bond, 8.75%, due 11/21/33
 
68
 
   
50
 
Philippine Government International Bond, 3.95%, due 1/20/40
 
51
 
       
Qatar Government International Bond
     
   
20
 
3.25%, due 6/2/26
 
19
(h)
   
20
 
4.63%, due 6/2/46
 
21
(h)
 
ZAR
660
 
Republic of South Africa Government Bond, 6.50%, due 2/28/41
 
36
 
       
Republic of South Africa Government International Bond
     
 
$
30
 
4.88%, due 4/14/26
 
30
 
   
20
 
4.30%, due 10/12/28
 
19
 
   
20
 
5.00%, due 10/12/46
 
18
 
   
25
 
Romanian Government International Bond, 6.13%, due 1/22/44
 
28
(h)
       
Saudi Government International Bond
     
   
20
 
3.25%, due 10/26/26
 
19
(h)
   
20
 
4.50%, due 10/26/46
 
19
(h)
   
45
 
Serbia International Bond, 4.88%, due 2/25/20
 
45
(h)
   
50
 
Trinidad & Tobago Government International Bond, 4.50%, due 8/4/26
 
46
(h)
   
30
 
Turkey Government International Bond, 6.13%, due 10/24/28
 
29
 
       
Uruguay Government International Bond
     
   
30
 
4.38%, due 10/27/27
 
31
 
   
30
 
5.10%, due 6/18/50
 
31
 
 
 
Total Foreign Government Securities (Cost $1,362)
 
1,312
 
 
 
NUMBER OF
SHARES
 
 
Short-Term Investments 1.4%
 
Investment Companies 1.4%
   
139,049
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(l) (Cost  $139)
 
139
(f)
       
 
Total Investments 107.9% (Cost $10,497)
10,268
 
       
 
Liabilities Less Other Assets (7.9)%
(751)
(m)
       
 
Net Assets 100.0%
$9,517
 
 
(a)
 
Principal amount is stated in the currency in which the security is denominated.
(b)
 
Rate shown was the discount rate at the date of purchase.
(c)
 
All or a portion of the security is pledged as collateral for futures.
(d)
 
Index-linked bond whose principal amount adjusts according to a government retail price index.
(e)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(f)
 
All or a portion of this security is segregated in connection with obligations for to be announced securities, futures and/or swaps with a total value of approximately $1,675,000.
(g)
 
Variable or floating rate security where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of January 31, 2019.
(h)
 
Securities were purchased under Rule 144A of the 1933 Act, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $1,094,000, which represents 11.5% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(i)
 
TBA (To Be Announced) Securities are purchased/sold on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total value of all such securities (excluding forward sales contracts, if any) at January 31, 2019 amounted to approximately $1,093,000, which represents 11.5% of net assets of the Fund.
(j)
 
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. Total value of all such securities at January 31, 2019 amounted to approximately $694,000, which represents 7.3% of net assets of the Fund.
(k)
 
Perpetual Bond Security. The rate reflected was the rate in effect on January 31, 2019. The maturity date reflects the next call date.
(l)
 
Represents 7-day effective yield as of January 31, 2019.
(m)
 
Includes the impact of the Fund's open positions in derivatives at January 31, 2019.

 
See Notes to Schedule of Investments

Schedule of Investments Core Plus Fund^
(Unaudited) (cont’d)
 
 
Derivative Instruments

Futures contracts ("futures")
 
 
At January 31, 2019, open positions in futures for the Fund were as follows:
 
Long Futures:
 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
   
3/2019
 
5
U.S. Treasury Note, 10 Year
$
612,344
$
16,680
   
3/2019
 
4
U.S. Treasury Note, 2 Year
 
849,313
 
1,313
   
3/2019
 
4
U.S. Treasury Note, 5 Year
 
459,438
 
4,312
   
Total Long Positions
$
1,921,095
$
22,305
   
Short Futures:
                   
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
   
3/2019
 
1
Euro-Bund
$
(189,626)
$
(1,751)
   
3/2019
 
1
Euro-Buxl Bond, 30 Year
 
(212,735)
 
(10,004)
   
3/2019
 
2
Euro
 
(287,163)
 
(1,875)
   
3/2019
 
2
Pound Sterling
 
(164,263)
 
(6,812)
   
3/2019
 
1
South African Rand
 
(37,475)
 
(2,913)
   
3/2019
 
2
U.S. Treasury Note, Ultra 10 Year
 
(261,375)
 
(6,844)
   
Total Short Positions
$
(1,152,637)
$
(30,199)
   
Total Futures
$
(7,894)
   

At January 31, 2019, the Fund had $10,371 deposited in a segregated account to cover margin requirements on open futures. The Fund had securities pledged in the amount of $99,823 to cover collateral requirements on open futures.

Credit default swap contracts ("credit default swaps")
 
At January 31, 2019, the Fund had outstanding credit default swaps as follows:
 
Centrally Cleared Credit Default Swaps — Sell Protection
 
Clearinghouse
Reference
Entity
Notional
Amount
Financing Rate
Received by
the Fund
Payment Frequency
Maturity
Date
 
Upfront
Payments
(Receipts)
 
Unrealized
Appreciation/
(Depreciation)
 
Accrued
Net
Interest
Receivable/
(Payable)
 
Value
ICE CC
CDX North American High Yield Index, Ser. 29 V.3
USD 514,500
5.00%
3M
12/20/2022
$
29,092
$
5,555
$
3,073
$
37,720
ICE CC
CDX North American High Yield Index, Ser. 31 V.3
USD 98,000
5.00%
3M
12/20/2023
 
2,975
 
2,955
 
585
 
6,515
Total
$
32,067
$
8,510
$
3,658
$
44,235

Interest rate swap contracts ("interest rate swaps")
 
   
At January 31, 2019, the Fund had outstanding interest rate swaps as follows:
 
   
Centrally cleared interest rate swaps
 
 
Clearinghouse
Notional
Amount
Fund
Pays/Receives
Floating Rate
Floating Rate
Index
Annual
Fixed-Rate
 Frequency of Fund Receipt/
Payment
Maturity
Date
Unrealized
Appreciation/
(Depreciation)
Accrued Net Interest Receivable/ (Payable)
Value
CME
 USD 120,000
Receive
3-month USD LIBOR
2.91%
3M/6M
12/13/2028
$
(2,946)
$
(2)
$
(2,948)
 
 
See Notes to Schedule of Investments

Schedule of Investments Core Plus Fund^
(Unaudited) (cont’d)
 

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
U.S. Treasury Obligations
 
$
   
$
1,120
   
$
   
$
1,120
 
Mortgage-Backed Securities(a)
   
     
4,322
     
     
4,322
 
Corporate Bonds(a)
   
     
3,185
     
     
3,185
 
Asset-Backed Securities
   
     
190
     
     
190
 
Foreign Government Securities
   
     
1,312
     
     
1,312
 
Short-Term Investments
   
     
139
     
     
139
 
Total Investments
 
$
   
$
10,268
   
$
   
$
10,268
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.


The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of January 31, 2019:
 
Other Financial Instruments
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Futures(a)
                       
Assets
   
22
     
     
     
22
 
Liabilities
   
(30
)
   
     
     
(30
)
Swaps
                               
Assets
   
     
44
     
     
44
 
Liabilities
   
     
(3
)
   
     
(3
)
Total
 
$
(8
)
 
$
41
   
$
   
$
33
 
 
(a)
Futures are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^ A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.


 
 
 
See Notes to Schedule of Investments

Schedule of Investments Emerging Markets Debt Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
(a)
 
VALUE
(000's omitted)
 
(000's omitted)
 
Corporate Bonds 24.5%(a)
 
Argentina 0.7%
 
$
300
 
Agua y Saneamientos Argentinos SA, 6.63%, due 2/1/23
$
235
(b)
   
206
 
Generacion Mediterranea SA/Generacion Frias SA/Central Termica Roca SA, 9.63%, due 7/27/23
 
182
(c)
   
86
 
Genneia SA, 8.75%, due 1/20/22
 
80
(c)
       
Pampa Energia SA
     
   
257
 
7.38%, due 7/21/23
 
244
(c)
   
200
 
7.38%, due 7/21/23
 
189
(b)
   
234
 
Rio Energy SA/UGEN SA/UENSA SA, 6.88%, due 2/1/25
 
187
(c)
       
YPF SA
     
   
83
 
(BADLARPP + 4.00%, 18.00% Floor), 51.73%, due 7/7/20
 
35
(b)(d)
   
200
 
8.50%, due 7/28/25
 
196
(b)
   
206
 
7.00%, due 12/15/47
 
168
(c)
 
1,516
 
Azerbaijan 0.8%
       
Southern Gas Corridor CJSC
     
   
1,500
 
6.88%, due 3/24/26
 
1,665
(b)(e)
   
200
 
6.88%, due 3/24/26
 
222
(b)
 
1,887
 
Bahrain 0.1%
   
219
 
Oil & Gas Holding Co., 7.63%, due 11/7/24
 
232
(c)
 
Belarus 0.2%
       
Eurotorg LLC Via Bonitron DAC
     
   
200
 
8.75%, due 10/30/22
 
201
(c)
   
200
 
8.75%, due 10/30/22
 
201
(b)
 
402
 
Brazil 2.8%
       
Banco do Brasil SA
     
   
260
 
4.88%, due 4/19/23
 
263
(c)
   
284
 
4.63%, due 1/15/25
 
279
(c)
   
250
 
Braskem Finance Ltd., 6.45%, due 2/3/24
 
270
 
   
200
 
Cemig Geracao e Transmissao SA, 9.25%, due 12/5/24
 
218
(c)
       
CSN Resources SA
     
   
558
 
6.50%, due 7/21/20
 
554
(b)(e)
   
222
 
7.63%, due 2/13/23
 
217
(c)
   
365
 
Itau Unibanco Holding SA, (5 year CMT + 3.86%), 6.50%, due 3/19/23
 
359
(c)(d)(f)
   
259
 
Light Servicos de Eletricidade SA/Light Energia SA, 7.25%, due 5/3/23
 
260
(c)
   
276
 
MARB BondCo PLC, 6.88%, due 1/19/25
 
264
(c)
   
850
 
Marfrig Holdings Europe BV, 8.00%, due 6/8/23
 
878
(b)(e)
   
254
 
Minerva Luxembourg SA, 6.50%, due 9/20/26
 
243
(c)
       
Petrobras Global Finance BV
     
   
616
 
7.38%, due 1/17/27
 
670
(e)
   
50
 
6.00%, due 1/27/28
 
50
 
   
250
 
Raizen Fuels Finance SA, 5.30%, due 1/20/27
 
249
(b)
   
267
 
Rede D'or Finance Sarl, 4.95%, due 1/17/28
 
250
(c)
   
200
 
Rumo Luxembourg Sarl, 7.38%, due 2/9/24
 
212
(c)
   
253
 
Suzano Austria GmbH, 6.00%, due 1/15/29
 
265
(c)(m)
       
Vale Overseas Ltd.
     
   
117
 
8.25%, due 1/17/34
 
142
 
   
27
 
6.88%, due 11/21/36
 
30
 
   
400
 
VM Holding SA Co., 5.38%, due 5/4/27
 
396
(b)
 
 
200
 
Votorantim Cimentos SA, 7.25%, due 4/5/41
 
210
(b)
 
6,279
 
Chile 0.9%
   
422
 
Banco de Credito e Inversiones, 3.50%, due 10/12/27
 
397
(c)
   
197
 
Celeo Redes Operacion Chile SA, 5.20%, due 6/22/47
 
186
(b)
   
200
 
Celulosa Arauco y Constitucion SA, 5.50%, due 11/2/47
 
192
 
   
204
 
Codelco, Inc., 4.38%, due 2/5/49
 
195
(c)(g)
   
200
 
Empresa Nacional del Petroleo, 5.25%, due 11/6/29
 
211
(c)
       
Geopark Ltd.
     
   
200
 
6.50%, due 9/21/24
 
194
(b)
   
389
 
6.50%, due 9/21/24
 
376
(c)
   
250
 
SACI Falabella, 3.75%, due 10/30/27
 
235
(b)
   
179
 
VTR Finance BV, 6.88%, due 1/15/24
 
184
(b)
 
2,170
 
China 2.8%
   
212
 
Alibaba Group Holding Ltd., 4.20%, due 12/6/47
 
200
 
   
300
 
Azure Orbit IV Int'l Finance Ltd., 3.75%, due 1/25/23
 
295
(b)
   
200
 
Bluestar Finance Holdings Ltd., 3.50%, due 9/30/21
 
196
(b)
   
300
 
CCCI Treasure Ltd., (5 year CMT + 7.19%), 3.50%, due 4/21/20
 
297
(b)(d)(f)
   
200
 
CDBL Funding 1, 3.00%, due 4/24/23
 
191
(b)
   
200
 
Chalieco Hong Kong Corp. Ltd., (3 year CMT + 8.29%), 5.70%, due 1/15/20
 
201
(b)(d)(f)
   
400
 
Charming Light Investments Ltd., 4.38%, due 12/21/27
 
386
(b)
   
250
 
China Construction Bank Corp., (5 year CMT + 2.43%), 3.88%, due 5/13/25
 
249
(b)(d)
       
China Evergrande Group
     
   
300
 
8.25%, due 3/23/22
 
284
(b)
   
300
 
9.50%, due 3/29/24
 
280
(b)
       
China Minmetals Corp.
     
   
210
 
(3 year CMT + 6.07%), 4.45%, due 5/13/21
 
209
(b)(d)(f)
   
416
 
(5 year CMT + 4.72%), 3.75%, due 11/13/22
 
391
(b)(d)(f)
       
CNAC HK Finbridge Co. Ltd.
     
   
210
 
4.63%, due 3/14/23
 
214
(b)
   
200
 
5.13%, due 3/14/28
 
208
(b)
   
200
 
CNOOC Finance 2015 USA LLC, 3.50%, due 5/5/25
 
197
 
   
200
 
Country Garden Holdings Co. Ltd., 5.63%, due 12/15/26
 
195
(b)
   
201
 
Dianjian Int'l Finance Ltd., (5 year CMT + 6.93%), 4.60%, due 3/13/23
 
195
(b)(d)(f)
   
300
 
Franshion Brilliant Ltd., (5 year CMT + 3.86%), 5.75%, due 1/17/22
 
269
(b)(d)(f)
   
200
 
Huarong Finance 2017 Co. Ltd., (5 year CMT + 6.98%), 4.00%, due 11/7/22
 
188
(b)(d)(f)
   
20
 
Nexen, Inc., 5.88%, due 3/10/35
 
23
 
   
400
 
Sinopec Group Overseas Development 2015 Ltd., 3.25%, due 4/28/25
 
389
(b)
   
312
 
Sinopec Group Overseas Development 2017 Ltd., 3.25%, due 9/13/27
 
296
(c)
       
Sunac China Holdings Ltd.
     
   
300
 
6.88%, due 8/8/20
 
299
(b)
   
250
 
8.35%, due 4/19/23
 
247
(b)
   
200
 
Sunny Optical Technology Group Co. Ltd., 3.75%, due 1/23/23
 
193
(b)
   
200
 
Tsinghua Unic Ltd., 5.38%, due 1/31/23
 
186
(b)
 
6,278
 
Colombia 1.5%
       
Banco de Bogota SA
     
 
 
200
 
5.38%, due 2/19/23
 
205
(b)
   
400
 
6.25%, due 5/12/26
 
418
(b)
       
Ecopetrol SA
     
   
300
 
7.38%, due 9/18/43
 
348
 
   
200
 
5.88%, due 5/28/45
 
197
 
       
Empresas Publicas de Medellin ESP
     
 
COP
1,278,000
 
8.38%, due 2/1/21
 
413
(b)
 
COP
807,000
 
7.63%, due 9/10/24
 
253
(c)
 
COP
1,600,000
 
8.38%, due 11/8/27
 
508
(c)
 
COP
437,000
 
Financiera de Desarrollo Territorial SA Findeter, 7.88%, due 8/12/24
 
143
(c)
 
$
343
 
Gran Tierra Energy Int'l Holdings Ltd., 6.25%, due 2/15/25
 
323
(c)
   
300
 
Grupo Aval Ltd., 4.75%, due 9/26/22
 
296
(b)
   
300
 
SURA Asset Management SA, 4.88%, due 4/17/24
 
305
(b)
 
3,409
 
Ghana 0.2%
       
Tullow Oil PLC
     
   
200
 
6.25%, due 4/15/22
 
197
(b)
   
210
 
7.00%, due 3/1/25
 
205
(c)
 
402
 
Guatemala 0.4%
   
250
 
Central American Bottling Corp., 5.75%, due 1/31/27
 
249
(c)
   
600
 
Comunicaciones Celulares SA via Comcel Trust, 6.88%, due 2/6/24
 
620
(b)(e)
 
869
 
Hong Kong 1.3%
   
250
 
Bank of East Asia Ltd., (5 year CMT + 3.83%), 5.50%, due 12/2/20
 
249
(b)(d)(f)
   
309
 
Celestial Miles Ltd., (5 year CMT + 8.21%), 5.75%, due 1/31/24
 
310
(b)(d)(f)
   
300
 
Fita Int'l Ltd., 7.00%, due 2/10/20
 
310
(b)
   
200
 
HLP Finance Ltd., 4.45%, due 4/16/21
 
203
(b)
   
200
 
Melco Resorts Finance Ltd., 4.88%, due 6/6/25
 
188
(c)
   
200
 
NWD Finance BVI Ltd., 5.75%, due 10/5/21
 
181
(b)(f)
   
300
 
PCPD Capital Ltd., 4.75%, due 3/9/22
 
292
(b)
   
216
 
RKPF Overseas 2019 A Ltd., 7.88%, due 2/1/23
 
217
(b)(g)
   
500
 
Studio City Co. Ltd., 7.25%, due 11/30/21
 
516
(b)(e)
   
200
 
Studio City Finance Ltd., 7.25%, due 2/11/24
 
202
(c)(g)
       
WTT Investment Ltd.
     
   
200
 
5.50%, due 11/21/22
 
197
(c)
   
200
 
5.50%, due 11/21/22
 
197
(b)
 
3,062
 
India 0.6%
   
200
 
ABJA Investment Co. Pte Ltd., 5.45%, due 1/24/28
 
181
(b)
   
200
 
Azure Power Energy Ltd., 5.50%, due 11/3/22
 
194
(c)
   
200
 
Bharti Airtel Int'l Netherlands BV, 5.35%, due 5/20/24
 
201
(b)
   
200
 
Oil India Ltd., 5.13%, due 2/4/29
 
200
(b)(g)
   
250
 
Reliance Industries Ltd., 4.88%, due 2/10/45
 
247
(c)
       
Vedanta Resources PLC
     
   
200
 
6.38%, due 7/30/22
 
193
(b)
   
200
 
6.38%, due 7/30/22
 
193
(c)
 
1,409
 
Indonesia 0.6%
   
200
 
Indika Energy Capital III Pte Ltd., 5.88%, due 11/9/24
 
182
(b)
   
200
 
Indo Energy Finance II BV, 6.38%, due 1/24/23
 
194
(b)
   
200
 
Indonesia Asahan Aluminium Persero PT, 6.76%, due 11/15/48
 
221
(b)
 
 
250
 
Perusahaan Gas Negara Persero Tbk, 5.13%, due 5/16/24
 
255
(b)
       
Perusahaan Listrik Negara PT
     
 
EUR
100
 
2.88%, due 10/25/25
 
118
(c)
 
$
200
 
5.45%, due 5/21/28
 
210
(c)
   
200
 
6.15%, due 5/21/48
 
215
(c)
 
1,395
 
Israel 0.4%
   
200
 
Altice Financing SA, 7.50%, due 5/15/26
 
190
(b)
   
200
 
Israel Electric Corp. Ltd., 5.00%, due 11/12/24
 
210
(b)
       
Teva Pharmaceutical Finance Netherlands III BV
     
   
400
 
2.80%, due 7/21/23
 
360
 
   
200
 
3.15%, due 10/1/26
 
166
 
   
100
 
4.10%, due 10/1/46
 
73
 
 
999
 
Jamaica 0.1%
   
98
 
Digicel Group, 8.25%, due 9/30/22
 
53
(c)
   
102
 
Digicel Group One Ltd., 8.25%, due 12/30/22
 
84
(c)
 
137
 
Kazakhstan 0.9%
   
450
 
Kazkommertsbank JSC, 5.50%, due 12/21/22
 
448
(b)
       
KazMunayGas National Co. JSC
     
   
200
 
4.75%, due 4/24/25
 
207
(c)
   
499
 
5.38%, due 4/24/30
 
516
(c)
   
200
 
5.75%, due 4/19/47
 
202
(c)
   
560
 
5.75%, due 4/19/47
 
565
(b)(e)
   
225
 
6.38%, due 10/24/48
 
240
(c)
 
2,178
 
Korea 0.8%
   
316
 
Hanwha Life Insurance Co. Ltd., (5 year CMT + 2.00%), 4.70%, due 4/23/48
 
303
(c)(d)
   
200
 
Hyundai Capital Services, Inc., 3.75%, due 3/5/23
 
199
(c)
   
200
 
Korea East-West Power Co. Ltd., 3.88%, due 7/19/23
 
203
(c)
   
200
 
Kyobo Life Insurance Co. Ltd., (5 year CMT + 2.09%), 3.95%, due 7/24/47
 
192
(b)(d)
   
200
 
Shinhan Bank Co. Ltd., 3.88%, due 3/24/26
 
195
(c)
   
200
 
Shinhan Financial Group Co. Ltd., (5 year CMT + 3.05%), 5.88%, due 8/13/23
 
200
(b)(d)(f)
       
Woori Bank
     
   
200
 
4.75%, due 4/30/24
 
204
(c)
   
300
 
4.75%, due 4/30/24
 
306
(b)
 
1,802
 
Kuwait 0.1%
   
200
 
NBK Tier 1 Financing Ltd., (6 year USD Swap + 4.12%), 5.75%, due 4/9/21
 
202
(b)(d)(f)
 
Macau 0.2%
   
400
 
Sands China Ltd., 5.40%, due 8/8/28
 
395
 
 
Malaysia 0.1%
   
200
 
TNB Global Ventures Capital Bhd, 4.85%, due 11/1/28
 
204
(b)
 
Mexico 3.0%
   
200
 
Alfa SAB de CV, 6.88%, due 3/25/44
 
204
(b)
   
200
 
Banco Mercantil del Norte SA, (10 year CMT + 5.35%), 7.63%, due 1/10/28
 
198
(b)(d)(f)
       
Cemex SAB de CV
     
   
200
 
5.70%, due 1/11/25
 
203
(b)
   
300
 
7.75%, due 4/16/26
 
324
(b)
   
365
 
Cometa Energia SA de CV, 6.38%, due 4/24/35
 
351
(c)
 
MXN
6,480
 
Comision Federal de Electricidad, Ser. 14-2, 7.35%, due 11/25/25
 
302
 
 
$
300
 
Elementia SAB de CV, 5.50%, due 1/15/25
 
281
(b)
   
200
 
Infraestructura Energetica Nova SAB de CV, 4.88%, due 1/14/48
 
164
(c)
   
200
 
Mexichem SAB de CV, 5.88%, due 9/17/44
 
187
(b)
   
242
 
Mexico City Airport Trust, 5.50%, due 7/31/47
 
214
(c)
       
Petroleos Mexicanos
     
 
MXN
13,180
 
7.19%, due 9/12/24
 
541
(b)
 
$
41
 
6.88%, due 8/4/26
 
40
 
 
MXN
41,443
 
Ser. 14-2, 7.47%, due 11/12/26
 
1,615
 
 
$
222
 
5.35%, due 2/12/28
 
194
 
   
164
 
6.50%, due 1/23/29
 
154
 
   
750
 
6.50%, due 6/2/41
 
654
(e)
   
92
 
6.75%, due 9/21/47
 
80
 
   
419
 
6.35%, due 2/12/48
 
350
 
   
300
 
PLA Administradora Industrial S de RL de CV, 5.25%, due 11/10/22
 
303
(b)
   
200
 
Sigma Alimentos SA de CV, 4.13%, due 5/2/26
 
193
(b)
   
200
 
Trust F/1401, 6.95%, due 1/30/44
 
200
(b)
 
6,752
 
Mongolia 0.1%
   
200
 
Trade & Development Bank of Mongolia LLC, 9.38%, due 5/19/20
 
208
(b)
 
Nigeria 0.2%
   
200
 
SEPLAT Petroleum Development Co. PLC, 9.25%, due 4/1/23
 
204
(c)
   
200
 
Zenith Bank PLC, 7.38%, due 5/30/22
 
204
(b)
 
408
 
Oman 0.1%
   
242
 
Oztel Holdings SPC Ltd., 6.63%, due 4/24/28
 
228
(c)
 
Panama 0.1%
   
200
 
C&W Senior Financing Designated Activity Co., 6.88%, due 9/15/27
 
191
(c)
 
Peru 0.9%
   
100
 
BBVA Banco Continental SA, (5 year CMT + 2.75%), 5.25%, due 9/22/29
 
103
(b)(d)
   
222
 
Fenix Power Peru SA, 4.32%, due 9/20/27
 
213
(c)
 
PEN
843
 
Fondo MIVIVIENDA SA, 7.00%, due 2/14/24
 
272
(c)
 
$
200
 
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 6.38%, due 6/1/28
 
211
(c)
   
205
 
Inkia Energy Ltd., 5.88%, due 11/9/27
 
196
(c)
       
Orazul Energy Egenor S en C por A
     
   
200
 
5.63%, due 4/28/27
 
184
(c)
   
200
 
5.63%, due 4/28/27
 
185
(b)
   
200
 
Petroleos del Peru SA, 4.75%, due 6/19/32
 
198
(c)
   
250
 
Southern Copper Corp., 6.75%, due 4/16/40
 
287
 
   
200
 
Volcan Cia Minera SAA, 5.38%, due 2/2/22
 
203
(b)
 
2,052
 
Philippines 0.1%
   
200
 
VLL Int'l, Inc., 5.75%, due 11/28/24
 
187
(b)
 
Qatar 0.0%(h)
   
100
 
Nakilat, Inc., 6.07%, due 12/31/33
 
112
(b)
 
Russia 1.0%
       
Credit Bank of Moscow Via CBOM Finance PLC
     
   
319
 
5.88%, due 11/7/21
 
319
(c)
   
200
 
5.55%, due 2/14/23
 
193
(c)
   
300
 
Evraz Group SA, 5.38%, due 3/20/23
 
300
(b)
   
200
 
Gazprom OAO Via Gaz Capital SA, 4.95%, due 7/19/22
 
204
(b)
       
GTH Finance BV
     
   
250
 
6.25%, due 4/26/20
 
254
(b)
   
200
 
7.25%, due 4/26/23
 
210
(b)
   
200
 
GTLK Europe DAC, 5.95%, due 7/19/21
 
201
(b)
 
 
200
 
Sberbank of Russia Via SB Capital SA, 5.13%, due 10/29/22
 
200
(b)
   
205
 
SCF Capital Ltd., 5.38%, due 6/16/23
 
203
(c)
   
300
 
Vnesheconombank Via VEB Finance PLC, 6.80%, due 11/22/25
 
314
(b)
 
2,398
 
Singapore 0.3%
   
200
 
DBS Group Holdings Ltd., (5 year USD ICE Swap + 1.59%), 4.52%, due 12/11/28
 
205
(c)(d)
   
200
 
Oversea-Chinese Banking Corp. Ltd., 4.25%, due 6/19/24
 
202
(b)
   
200
 
Parkway Pantai Ltd., (5 year CMT + 4.43%), 4.25%, due 7/27/22
 
186
(b)(d)(f)
 
593
 
South Africa 0.9%
       
Eskom Holdings SOC Ltd.
     
   
260
 
6.75%, due 8/6/23
 
256
(b)
   
400
 
7.13%, due 2/11/25
 
394
(c)
   
206
 
6.35%, due 8/10/28
 
211
(c)
   
200
 
FirstRand Bank Ltd., (5 year USD Swap + 3.56%), 6.25%, due 4/23/28
 
204
(b)(d)
   
318
 
Liquid Telecommunications Financing PLC, 8.50%, due 7/13/22
 
324
(c)
   
250
 
Petra Diamonds US Treasury PLC, 7.25%, due 5/1/22
 
235
(b)
       
SASOL Financing USA LLC
     
   
200
 
5.88%, due 3/27/24
 
206
 
   
200
 
6.50%, due 9/27/28
 
211
 
 
2,041
 
Supranational 0.1%
   
205
 
Banque Ouest Africaine de Developpement, 5.00%, due 7/27/27
 
200
(c)
 
Thailand 0.3%
   
200
 
PTT PCL, 4.50%, due 10/25/42
 
189
(b)
   
200
 
PTTEP Treasury Center Co. Ltd., (5 year CMT + 2.72%), 4.60%, due 7/17/22
 
189
(b)(d)(f)
       
Thaioil Treasury Center Co. Ltd.
     
   
200
 
4.63%, due 11/20/28
 
206
(c)
   
200
 
5.38%, due 11/20/48
 
213
(c)
 
797
 
Turkey 0.9%
   
200
 
Akbank TAS, 5.13%, due 3/31/25
 
178
(c)
   
200
 
Finansbank AS, 4.88%, due 5/19/22
 
192
(b)
       
TC Ziraat Bankasi AS
     
   
200
 
4.25%, due 7/3/19
 
198
(b)
   
200
 
5.13%, due 5/3/22
 
186
(c)
   
200
 
5.13%, due 9/29/23
 
181
(c)
   
200
 
Turkcell Iletisim Hizmetleri AS, 5.80%, due 4/11/28
 
183
(c)
       
Turkiye Garanti Bankasi AS
     
   
200
 
4.75%, due 10/17/19
 
199
(b)
   
200
 
5.88%, due 3/16/23
 
193
(b)
   
300
 
(5 year USD Swap + 4.22%), 6.13%, due 5/24/27
 
262
(c)(d)
       
Yapi ve Kredi Bankasi AS
     
   
200
 
5.75%, due 2/24/22
 
191
(b)
   
200
 
5.85%, due 6/21/24
 
179
(c)
 
2,142
 
United Arab Emirates 0.5%
       
Abu Dhabi Crude Oil Pipeline LLC
     
   
285
 
3.65%, due 11/2/29
 
279
(c)
   
200
 
3.65%, due 11/2/29
 
196
(b)
   
200
 
ADCB Finance Cayman Ltd., 4.00%, due 3/29/23
 
200
(c)
   
200
 
DP World Ltd., 6.85%, due 7/2/37
 
233
(b)
 
 
200
 
MDC-GMTN BV, 4.50%, due 11/7/28
 
211
(c)
 
1,119
 
Venezuela 0.5%
       
Petroleos de Venezuela SA
     
   
1,348
 
6.00%, due 5/16/24
 
332
(b)(i)
   
1,631
 
6.00%, due 11/15/26
 
359
(b)(i)
   
650
 
5.38%, due 4/12/27
 
163
(b)(i)
   
785
 
5.38%, due 4/12/27
 
197
(b)(i)
 
1,051
 
 
 
Total Corporate Bonds (Cost $57,970)
 
55,706
 
 
Foreign Government Securities 67.7%
 
Albania 0.1%
 
EUR
101
 
Republic of Albania, 3.50%, due 10/9/25
 
116
(b)
 
Angola 0.3%
       
Angolan Government International Bond
     
 
$
200
 
9.38%, due 5/8/48
 
211
(b)
   
458
 
9.38%, due 5/8/48
 
483
(b)
 
694
 
Argentina 3.5%
 
ARS
1,471
 
Argentina Bonar Bonds, (BADLARPP + 2.00%), 47.69%, due 4/3/22
 
40
(d)
 
ARS
1,500
 
Argentina Treasury Bond BONCER, 2.50%, due 7/22/21
 
72
 
 
ARS
3,904
 
Argentine Bonos del Tesoro, 18.20%, due 10/3/21
 
86
 
       
Argentine Republic Government International Bond
     
 
EUR
350
 
3.38%, due 1/15/23
 
340
 
 
EUR
1,990
 
7.82%, due 12/31/33
 
2,066
(e)
 
EUR
2,754
 
2.26%, due 12/31/38
 
1,874
(e)(j)
 
EUR
256
 
2.26%, due 12/31/38
 
171
(j)
 
$
857
 
6.88%, due 1/11/48
 
657
 
 
ARS
16,669
 
Bonos de la Nacion Argentina con Ajuste por CER, 4.00%, due 3/6/20
 
618
 
       
Bonos De La Nacion Argentina En Moneda Dua
     
 
$
514
 
4.50%, due 6/21/19
 
509
 
   
536
 
4.50%, due 2/13/20
 
503
 
       
City of Buenos Aires Argentina
     
 
ARS
22,502
 
(BADLARPP + 3.25%, 22.25% Floor), 48.97%, due 3/29/24
 
566
(d)
 
ARS
13,270
 
(BADLARPP + 3.75%), 51.41%, due 2/22/28
 
338
(d)
 
EUR
130
 
Provincia de Buenos Aires, 5.38%, due 1/20/23
 
126
(b)
 
7,966
 
Azerbaijan 1.2%
 
$
510
 
Republic of Azerbaijan International Bond, 4.75%, due 3/18/24
 
518
(b)
       
State Oil Co. of the Azerbaijan Republic
     
   
1,700
 
4.75%, due 3/13/23
 
1,712
(b)(e)
   
200
 
6.95%, due 3/18/30
 
220
(b)
   
360
 
6.95%, due 3/18/30
 
396
(b)
 
2,846
 
Belarus 0.1%
   
210
 
Republic of Belarus International Bond, 7.63%, due 6/29/27
 
220
(b)
 
Belize 0.1%
   
311
 
Belize Government International Bond, 4.94%, due 2/20/34
 
173
(b)
 
Bermuda 0.5%
       
Bermuda Government International Bond
     
 
 
395
 
4.85%, due 2/6/24
 
415
(b)
   
200
 
3.72%, due 1/25/27
 
194
(b)
   
490
 
4.75%, due 2/15/29
 
508
(b)
 
1,117
 
Brazil 3.0%
   
600
 
Brazil Minas SPE via State of Minas Gerais, 5.33%, due 2/15/28
 
609
(b)(e)
       
Brazil Notas do Tesouro Nacional
     
 
BRL
5,171
 
Ser. F, 10.00%, due 1/1/21
 
1,491
 
 
BRL
11,023
 
Ser. F, 10.00%, due 1/1/23
 
3,207
 
 
BRL
840
 
Ser. F, 10.00%, due 1/1/27
 
245
 
       
Brazilian Government International Bond
     
 
$
400
 
4.63%, due 1/13/28
 
398
 
   
870
 
5.00%, due 1/27/45
 
801
 
 
6,751
 
Chile 0.7%
       
Bonos de la Tesoreria de la Republica en pesos
     
 
CLP
205,000
 
5.00%, due 3/1/35
 
335
 
 
CLP
675,000
 
6.00%, due 1/1/43
 
1,234
 
 
1,569
 
Colombia 3.7%
       
Colombia Government International Bond
     
 
COP
423,000
 
4.38%, due 3/21/23
 
129
 
 
COP
921,000
 
9.85%, due 6/28/27
 
364
 
 
$
230
 
6.13%, due 1/18/41
 
262
 
   
310
 
5.63%, due 2/26/44
 
337
 
   
830
 
5.00%, due 6/15/45
 
839
 
   
201
 
5.20%, due 5/15/49
 
208
 
       
Colombian TES
     
 
COP
807,300
 
Ser. B, 7.00%, due 5/4/22
 
271
 
 
COP
3,566,000
 
Ser. B, 10.00%, due 7/24/24
 
1,350
(e)
 
COP
6,195,900
 
Ser. B, 6.25%, due 11/26/25
 
1,986
(e)
 
COP
173,500
 
Ser. B, 6.00%, due 4/28/28
 
53
 
 
COP
2,179,400
 
Ser. B, 7.75%, due 9/18/30
 
749
 
 
COP
4,336,400
 
Ser. B, 7.00%, due 6/30/32
 
1,394
 
 
COP
1,581,300
 
Ser. B, 7.25%, due 10/18/34
 
512
 
 
8,454
 
Costa Rica 0.5%
       
Costa Rica Government International Bond
     
 
$
920
 
7.00%, due 4/4/44
 
821
(b)
   
280
 
7.16%, due 3/12/45
 
253
(b)
 
1,074
 
Cote D'Ivoire 1.1%
       
Ivory Coast Government International Bond
     
   
250
 
6.38%, due 3/3/28
 
239
(b)
 
EUR
126
 
5.25%, due 3/22/30
 
134
(b)
 
$
1,398
 
5.75%, due 12/31/32
 
1,288
(b)(e)(j)
   
923
 
5.75%, due 12/31/32
 
850
(b)(j)
 
2,511
 
Croatia 0.9%
       
Croatia Government International Bond
     
 
EUR
453
 
3.00%, due 3/11/25
 
566
(b)
 
EUR
710
 
3.00%, due 3/20/27
 
876
(b)
 
EUR
488
 
2.75%, due 1/27/30
 
574
(b)
 
2,016
 
Czech Republic 1.1%
       
Czech Republic Government Bond
     
 
CZK
23,650
 
0.69%, due 7/17/19
 
1,042
(b)(k)
 
CZK
12,400
 
1.50%, due 10/29/19
 
550
(b)
 
CZK
11,230
 
2.40%, due 9/17/25
 
521
(b)
 
CZK
8,530
 
2.75%, due 7/23/29
 
412
 
 
2,525
 
Dominican Republic 0.4%
 
DOP
4,900
 
Dominican Republic Bond, 11.25%, due 2/5/27
 
101
(b)
       
Dominican Republic International Bond
     
 
$
100
 
7.45%, due 4/30/44
 
109
(b)
   
742
 
6.85%, due 1/27/45
 
766
(b)
 
976
 
Ecuador 0.4%
       
Ecuador Government International Bond
     
   
300
 
7.95%, due 6/20/24
 
284
(b)
   
200
 
9.65%, due 12/13/26
 
195
(b)
   
200
 
8.88%, due 10/23/27
 
187
(b)
   
200
 
10.75%, due 1/31/29
 
202
(b)
 
868
 
Egypt 0.6%
       
Egypt Government International Bond
     
   
600
 
8.50%, due 1/31/47
 
577
(b)
   
830
 
7.90%, due 2/21/48
 
765
(b)
 
1,342
 
El Salvador 0.1%
       
El Salvador Government International Bond
     
   
150
 
7.75%, due 1/24/23
 
158
(b)
   
100
 
7.65%, due 6/15/35
 
100
(b)
 
258
 
Ghana 0.6%
 
GHS
1
 
Ghana Government Bond, 24.75%, due 7/19/21
 
 
       
Ghana Government International Bond
     
 
$
362
 
7.63%, due 5/16/29
 
344
(b)
   
600
 
10.75%, due 10/14/30
 
706
(b)
   
316
 
8.63%, due 6/16/49
 
294
(b)
 
1,344
 
Hungary 1.8%
       
Hungary Government Bond
     
 
HUF
416,330
 
3.00%, due 6/26/24
 
1,579
(e)
 
HUF
523,140
 
3.00%, due 10/27/27
 
1,927
 
 
$
410
 
Hungary Government International Bond, 7.63%, due 3/29/41
 
591
 
 
4,097
 
Indonesia 6.1%
       
Indonesia Government International Bond
     
 
EUR
570
 
3.75%, due 6/14/28
 
736
(b)
 
$
473
 
4.75%, due 2/11/29
 
495
 
   
550
 
8.50%, due 10/12/35
 
768
(b)
   
370
 
5.13%, due 1/15/45
 
383
(b)
       
Indonesia Treasury Bond
     
 
IDR
3,500,000
 
7.88%, due 4/15/19
 
251
 
 
IDR
2,732,000
 
7.00%, due 5/15/22
 
192
 
 
IDR
10,400,000
 
8.38%, due 3/15/24
 
756
 
 
IDR
15,264,000
 
8.13%, due 5/15/24
 
1,108
 
 
IDR
17,500,000
 
7.00%, due 5/15/27
 
1,155
 
 
IDR
22,804,000
 
6.13%, due 5/15/28
 
1,413
(e)
 
IDR
9,975,000
 
9.00%, due 3/15/29
 
747
 
 
IDR
14,657,000
 
8.25%, due 5/15/29
 
1,056
 
 
IDR
11,204,000
 
8.75%, due 5/15/31
 
820
 
 
IDR
3,500,000
 
7.50%, due 8/15/32
 
230
 
 
IDR
12,377,000
 
6.63%, due 5/15/33
 
751
 
 
IDR
12,844,000
 
8.38%, due 3/15/34
 
911
 
 
IDR
12,683,000
 
8.25%, due 5/15/36
 
886
 
 
IDR
14,585,000
 
7.50%, due 5/15/38
 
949
 
 
IDR
3,000,000
 
8.38%, due 4/15/39
 
211
 
 
13,818
 
Kazakhstan 0.2%
       
Kazakhstan Government International Bond
     
 
EUR
139
 
1.55%, due 11/9/23
 
162
(b)
 
EUR
200
 
2.38%, due 11/9/28
 
231
(b)
 
393
 
Lebanon 0.1%
       
Lebanon Government International Bond
     
 
$
87
 
6.85%, due 3/23/27
 
72
(b)
   
281
 
6.65%, due 2/26/30
 
222
(b)
 
294
 
Malaysia 4.1%
   
1,000
 
1MDB Global Investments Ltd., 4.40%, due 3/9/23
 
931
(b)(e)
       
Malaysia Government Bond
     
 
MYR
7,700
 
3.65%, due 10/31/19
 
1,883
 
 
MYR
6,399
 
3.49%, due 3/31/20
 
1,562
(e)
 
MYR
400
 
4.05%, due 9/30/21
 
99
 
 
MYR
1,500
 
3.76%, due 4/20/23
 
366
 
 
MYR
2,500
 
3.80%, due 8/17/23
 
609
 
 
MYR
2,300
 
4.18%, due 7/15/24
 
568
 
 
MYR
1,800
 
4.06%, due 9/30/24
 
443
 
 
MYR
1,500
 
3.96%, due 9/15/25
 
366
 
 
MYR
1,700
 
3.90%, due 11/16/27
 
409
 
 
MYR
3,000
 
3.73%, due 6/15/28
 
713
 
 
MYR
1,835
 
4.23%, due 6/30/31
 
445
 
 
MYR
700
 
4.64%, due 11/7/33
 
176
(m)
 
MYR
350
 
4.94%, due 9/30/43
 
87
 
       
Malaysia Government Investment Issue
     
 
MYR
2,000
 
4.07%, due 9/30/26
 
488
 
 
MYR
500
 
4.37%, due 10/31/28
 
124
 
 
9,269
 
Mexico 4.0%
       
Mexican Bonos
     
 
MXN
43,440
 
Ser. M20, 10.00%, due 12/5/24
 
2,451
 
 
MXN
3,473
 
Ser. M, 7.75%, due 5/29/31
 
170
 
 
MXN
3,634
 
Ser. M30, 8.50%, due 11/18/38
 
185
 
 
MXN
28,420
 
Ser. M, 7.75%, due 11/13/42
 
1,333
 
       
Mexico Cetes Treasury Bill
     
 
MXN
225,000
 
7.76%, due 3/14/19
 
1,166
(k)
 
MXN
420,000
 
8.07%, due 5/23/19
 
2,142
(k)
       
Mexico Government International Bond
     
 
$
226
 
4.50%, due 4/22/29
 
227
 
   
1,450
 
5.75%, due 10/12/10
 
1,423
 
 
9,097
 
Mongolia 0.6%
   
200
 
Development Bank of Mongolia LLC, 7.25%, due 10/23/23
 
200
(c)
       
Mongolia Government International Bond
     
   
400
 
10.88%, due 4/6/21
 
444
(b)
   
300
 
5.63%, due 5/1/23
 
294
(b)
   
200
 
8.75%, due 3/9/24
 
220
(b)
   
242
 
8.75%, due 3/9/24
 
265
(b)
 
1,423
 
Montenegro 0.1%
 
EUR
111
 
Montenegro Government International Bond, 3.38%, due 4/21/25
 
128
(b)
 
Nigeria 0.8%
       
Nigeria Government International Bond
     
 
$
200
 
7.63%, due 11/21/25
 
208
(b)
   
600
 
7.14%, due 2/23/30
 
576
(b)
   
200
 
8.75%, due 1/21/31
 
212
(b)
   
600
 
7.88%, due 2/16/32
 
596
(b)
   
200
 
9.25%, due 1/21/49
 
212
(b)
 
1,804
 
Oman 0.4%
       
Oman Government International Bond
     
   
352
 
6.50%, due 3/8/47
 
295
(b)
   
615
 
6.75%, due 1/17/48
 
524
(b)
   
200
 
6.75%, due 1/17/48
 
171
(b)
 
990
 
Paraguay 0.1%
   
230
 
Paraguay Government International Bond, 6.10%, due 8/11/44
 
251
(b)
 
Peru 2.2%
       
Peru Government Bond
     
 
PEN
1,984
 
5.94%, due 2/12/29
 
609
(b)
 
PEN
1,347
 
6.15%, due 8/12/32
 
410
(b)
       
Peruvian Government International Bond
     
 
PEN
1,641
 
5.70%, due 8/12/24
 
513
(c)
 
PEN
1,156
 
5.70%, due 8/12/24
 
361
(b)
 
PEN
2,579
 
8.20%, due 8/12/26
 
912
(b)
 
PEN
622
 
6.35%, due 8/12/28
 
197
(c)
 
PEN
2,258
 
6.35%, due 8/12/28
 
715
(b)
 
EUR
684
 
3.75%, due 3/1/30
 
930
 
 
PEN
1,065
 
6.95%, due 8/12/31
 
348
(b)
 
4,995
 
Philippines 0.1%
 
PHP
12,000
 
Philippine Government International Bond, 3.90%, due 11/26/22
 
221
 
 
Poland 3.7%
       
Poland Government Bond
     
 
PLN
8,500
 
2.50%, due 1/25/23
 
2,333
(e)
 
PLN
6,638
 
3.25%, due 7/25/25
 
1,874
 
 
PLN
1,211
 
2.50%, due 7/25/26
 
324
 
 
PLN
9,505
 
2.50%, due 7/25/27
 
2,527
 
 
PLN
4,381
 
2.75%, due 4/25/28
 
1,179
 
 
PLN
403
 
5.75%, due 4/25/29
 
137
 
 
8,374
 
Qatar 0.3%
       
Qatar Government International Bond
     
 
$
200
 
3.88%, due 4/23/23
 
204
(b)
   
275
 
4.50%, due 4/23/28
 
291
(b)
   
213
 
5.10%, due 4/23/48
 
228
(b)
 
723
 
Romania 2.0%
       
Romania Government Bond
     
 
RON
3,200
 
3.40%, due 3/8/22
 
754
 
 
RON
430
 
3.50%, due 12/19/22
 
101
 
 
RON
8,465
 
4.25%, due 6/28/23
 
2,023
(e)
 
RON
1,230
 
3.25%, due 4/29/24
 
278
 
 
RON
3,470
 
5.80%, due 7/26/27
 
893
(m)
 
EUR
380
 
Romanian Government International Bond, 3.88%, due 10/29/35
 
427
(b)
 
4,476
 
Russia 2.2%
       
Russian Federal Bond - Obligatsyi Federal’novo Zaima
     
 
RUB
97,606
 
7.00%, due 8/16/23
 
1,445
 
 
RUB
18,152
 
6.50%, due 2/28/24
 
262
 
 
RUB
91,470
 
7.10%, due 10/16/24
 
1,350
(e)
 
RUB
29,050
 
7.75%, due 9/16/26
 
440
 
 
RUB
21,336
 
8.50%, due 9/17/31
 
337
 
       
Russian Foreign Bond - Eurobond
     
 
$
200
 
4.75%, due 5/27/26
 
204
(b)
   
400
 
4.25%, due 6/23/27
 
391
(b)
   
17
 
7.50%, due 3/31/30
 
19
(b)(j)
   
600
 
5.25%, due 6/23/47
 
593
(b)
 
5,041
 
Serbia 0.6%
       
Serbia International Bond
     
   
175
 
4.88%, due 2/25/20
 
177
(b)
   
500
 
4.88%, due 2/25/20
 
506
(b)
   
200
 
7.25%, due 9/28/21
 
217
(b)
   
470
 
7.25%, due 9/28/21
 
511
(b)
 
1,411
 
South Africa 5.3%
       
Republic of South Africa Government Bond
     
 
ZAR
1,728
 
7.75%, due 2/28/23
 
130
 
 
ZAR
1,040
 
10.50%, due 12/21/26
 
87
 
 
ZAR
3,640
 
10.50%, due 12/21/26
 
303
 
 
ZAR
26,888
 
8.00%, due 1/31/30
 
1,875
(e)
 
ZAR
18,081
 
8.88%, due 2/28/35
 
1,297
 
 
ZAR
1,500
 
8.50%, due 1/31/37
 
103
 
 
ZAR
33,522
 
9.00%, due 1/31/40
 
2,389
(e)
 
ZAR
31,067
 
8.75%, due 1/31/44
 
2,146
(e)
 
ZAR
43,744
 
8.75%, due 2/28/48
 
3,023
(e)
       
Republic of South Africa Government International Bond
     
 
$
277
 
5.88%, due 6/22/30
 
284
 
   
273
 
5.65%, due 9/27/47
 
260
 
   
200
 
6.30%, due 6/22/48
 
203
 
 
12,100
 
Sri Lanka 1.7%
       
Sri Lanka Government Bonds
     
 
LKR
85,000
 
Ser. A, 11.50%, due 12/15/21
 
483
 
 
LKR
14,000
 
Ser. A, 10.00%, due 3/15/23
 
75
 
 
LKR
93,000
 
11.00%, due 6/1/26
 
508
 
 
LKR
32,000
 
Ser. A, 11.50%, due 8/1/26
 
180
 
 
LKR
74,000
 
Ser. A, 11.75%, due 6/15/27
 
419
 
       
Sri Lanka Government International Bond
     
 
$
700
 
5.88%, due 7/25/22
 
689
(b)
   
300
 
6.85%, due 11/3/25
 
297
(b)
   
550
 
6.20%, due 5/11/27
 
512
(b)
   
644
 
6.75%, due 4/18/28
 
618
(b)
 
3,781
 
Thailand 5.2%
       
Bank of Thailand Bill
     
 
THB
40,375
 
1.43%, due 2/28/19
 
1,291
(k)
 
THB
9,000
 
1.44%, due 3/14/19
 
288
(k)
 
THB
14,020
 
1.44%, due 6/6/19
 
446
(k)
 
THB
8,720
 
1.62%, due 9/5/19
 
276
(k)
 
THB
18,501
 
1.71%, due 12/6/19
 
584
(k)
       
Thailand Government Bond
     
 
THB
5,030
 
3.45%, due 3/8/19
 
161
 
 
THB
62,731
 
3.88%, due 6/13/19
 
2,023
 
 
THB
10,000
 
2.40%, due 12/17/23
 
324
 
 
THB
2,457
 
3.85%, due 12/12/25
 
86
 
 
THB
26,500
 
2.13%, due 12/17/26
 
834
 
 
THB
67,731
 
2.88%, due 12/17/28
 
2,258
 
 
THB
4,400
 
4.88%, due 6/22/29
 
170
 
 
THB
43,000
 
3.65%, due 6/20/31
 
1,516
 
 
THB
5,000
 
3.78%, due 6/25/32
 
178
 
 
THB
38,100
 
3.40%, due 6/17/36
 
1,285
 
 
THB
5,455
 
3.30%, due 6/17/38
 
181
(m)
 
THB
1,248
 
2.88%, due 6/17/46
 
38
 
 
11,939
 
Tunisia 0.2%
 
EUR
460
 
Banque Centrale de Tunisie International Bond, 5.63%, due 2/17/24
 
488
(b)
 
Turkey 5.5%
  $    
Export Credit Bank of Turkey
     
 
 
200
 
5.38%, due 2/8/21
 
196
(c)
   
420
 
5.38%, due 10/24/23
 
392
(c)
   
200
 
8.25%, due 1/24/24
 
207
(c)
   
200
 
6.13%, due 5/3/24
 
189
(c)
       
Turkey Government Bond
     
 
TRY
1,489
 
7.40%, due 2/5/20
 
260
 
 
TRY
600
 
10.70%, due 2/17/21
 
104
 
 
TRY
1,909
 
9.20%, due 9/22/21
 
314
 
 
TRY
1,789
 
9.50%, due 1/12/22
 
294
 
 
TRY
6,608
 
11.00%, due 3/2/22
 
1,133
 
 
TRY
11,523
 
10.70%, due 8/17/22
 
1,940
 
 
TRY
1,336
 
8.50%, due 9/14/22
 
212
 
 
TRY
9,367
 
12.20%, due 1/18/23
 
1,643
(e)
 
TRY
3,871
 
16.20%, due 6/14/23
 
780
 
 
TRY
2,973
 
3.00%, due 8/2/23
 
578
 
 
TRY
1,729
 
10.60%, due 2/11/26
 
285
 
 
TRY
1,720
 
11.00%, due 2/24/27
 
286
 
       
Turkey Government International Bond
     
 
$
303
 
7.25%, due 12/23/23
 
318
 
 
EUR
184
 
4.63%, due 3/31/25
 
212
 
 
EUR
357
 
5.20%, due 2/16/26
 
419
 
 
$
480
 
4.25%, due 4/14/26
 
423
 
   
250
 
4.88%, due 10/9/26
 
227
 
   
620
 
6.00%, due 3/25/27
 
597
 
   
597
 
6.13%, due 10/24/28
 
572
 
   
332
 
7.63%, due 4/26/29
 
349
 
   
670
 
6.00%, due 1/14/41
 
593
 
 
12,523
 
Ukraine 1.1%
       
Ukraine Government International Bond
     
   
202
 
8.99%, due 2/1/24
 
199
(b)
   
504
 
7.75%, due 9/1/25
 
463
(b)
   
630
 
7.75%, due 9/1/26
 
572
(b)
   
200
 
9.75%, due 11/1/28
 
198
(b)
   
486
 
7.38%, due 9/25/32
 
414
(b)
   
286
 
0.00%, due 5/31/40
 
174
(c)(l)
   
170
 
0.00%, due 5/31/40
 
104
(b)(l)
   
310
 
Ukreximbank Via Biz Finance PLC, 9.63%, due 4/27/22
 
309
(c)
 
2,433
 
Uruguay 0.2%
       
Uruguay Government International Bond
     
   
93
 
4.38%, due 1/23/31
 
95
 
   
165
 
5.10%, due 6/18/50
 
170
 
 
UYU
5,920
 
Uruguay Monetary Regulation Bill, Ser. 0001, 9.09%, due 2/8/19
 
182
(k)
 
447
 
Venezuela 0.1%
 
$
674
 
Venezuela Government International Bond, 8.25%, due 10/13/24
 
209
(b)(i)
 
Zambia 0.1%
   
220
 
Zambia Government International Bond, 8.97%, due 7/30/27
 
181
(b)
 
 
Total Foreign Government Securities (Cost $156,373)
 
153,726
 
 
U.S. Treasury Obligations 0.7%
 
1,658,000
 
U.S. Treasury Bill, 2.28%, due 2/17/19 (Cost  $1,657)
1,657
(k)
     
NUMBER OF
SHARES
   
 
Short-Term Investments 4.7%
 
Investment Companies 4.7%
   
10,544,642
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(n)  (Cost  $10,545)
 
10,545
(e)
       
 
Total Investments 97.6% (Cost $226,545)
221,634
 
       
 
Other Assets Less Liabilities 2.4%
5,527
(o)
       
 
Net Assets 100.0%
$227,161
 
 
 
(a)
 
Principal amount is stated in the currency in which the security is denominated.
(b)
 
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. Total value of all such securities at January 31, 2019 amounted to approximately $68,268,000, which represents 30.1% of net assets of the Fund.
(c)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $20,780,000, which represents 9.1% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(d)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(e)
 
All or a portion of this security is segregated in connection with when-issued and/or delayed delivery securities, futures, forward foreign currency contracts and/or swaps with a total value of approximately $46,476,000.
(f)
 
Perpetual Bond Security. The rate reflected was the rate in effect on January 31, 2019. The maturity date reflects the next call date.
(g)
 
When-issued security. Total value of all such securities at January 31, 2019 amounted to approximately $814,000, which represents 0.4% of net assets of the Fund.
(h)
 
Represents less than 0.05% of net assets.
(i)
 
Defaulted security.
(j)
 
Step Bond. Coupon 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 was the current rate as of January 31, 2019.
(k)
 
Rate shown was the discount rate at the date of purchase.
(l)
 
Currently a zero coupon security; will convert to variable in 2021 where it will be linked to the IMF Ukraine GDP Index.
(m)
 
All or a portion of this security was purchased on a delayed delivery basis.
(n)
 
Represents 7-day effective yield as of January 31, 2019.
(o)
 
Includes the impact of the Fund's open positions in derivatives at January 31, 2019.

 
See Notes to Schedule of Investments

Schedule of Investments Emerging Markets Debt Fund^
(Unaudited) (cont’d)

 
POSITIONS BY INDUSTRY
 
Industry
Investments at
Value
(000's omitted)
 
Percentage of
Net Assets
 
Foreign Government*
$
146,386
 
64.4%
 
Oil & Gas
 
15,354
 
6.8%
 
Banks
 
12,095
 
5.3%
 
Electric
 
6,149
 
2.7%
 
Real Estate
 
2,964
 
1.3%
 
Telecommunications
 
2,742
 
1.2%
 
Mining
 
2,523
 
1.1%
 
Pipelines
 
2,362
 
1.0%
 
Diversified Financial Services
 
2,038
 
0.9%
 
U.S. Treasury Obligations
 
1,657
 
0.7%
 
Engineering & Construction
 
1,593
 
0.7%
 
Food
 
1,578
 
0.7%
 
Chemicals
 
1,492
 
0.6%
 
Iron - Steel
 
1,424
 
0.6%
 
Lodging
 
1,301
 
0.6%
 
Municipal
 
904
 
0.4%
 
Building Materials
 
737
 
0.3%
 
Regional (state/province)
 
735
 
0.3%
 
Retail
 
637
 
0.3%
 
Pharmaceuticals
 
599
 
0.3%
 
Real Estate Investment Trusts
 
503
 
0.2%
 
Insurance
 
495
 
0.2%
 
Forest Products & Paper
 
457
 
0.2%
 
Healthcare - Services
 
436
 
0.2%
 
Transportation
 
415
 
0.2%
 
Energy - Alternate Sources
 
381
 
0.2%
 
Media
 
374
 
0.2%
 
Gas
 
367
 
0.2%
 
Metal Fabricate - Hardware
 
281
 
0.1%
 
Beverages
 
249
 
0.1%
 
Water
 
235
 
0.1%
 
Commercial Services
 
233
 
0.1%
 
Investment Companies
 
211
 
0.1%
 
Holding Companies - Diversified
 
204
 
0.1%
 
Internet
 
200
 
0.1%
 
Multi-National
 
200
 
0.1%
 
Auto Manufacturers
 
199
 
0.1%
 
Miscellaneous Manufacturer
 
193
 
0.1%
 
Electronics
 
186
 
0.1%
 
Short-Term Investments and Other Assets-Net
 
16,072
 
7.1%
 
 
$
227,161
 
100.0%
 

* Foreign governments do not constitute an industry.
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Emerging Markets Debt Fund^
(Unaudited) (cont’d)
 
 
Derivative Instruments

Futures contracts ("futures")
 
   
     
At January 31, 2019, open positions in futures for the Fund were as follows:
 
 
Long Futures:
                 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
 
3/2019
 
88
 
U.S. Treasury Note, 10 Year
 
$
10,777,250
   
$
296,455
 
3/2019
 
5
 
U.S. Treasury Ultra Long Bond
   
805,625
     
1,355
 
Total Long Positions
 
$
11,582,875
   
$
297,810
 
Short Futures:
                       
                 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
 
3/2019
 
43
 
Euro-Bund
 
$
(8,153,910
)
 
$
(151,420
)
3/2019
 
7
 
Euro-Buxl Bond, 30 Year
   
(1,489,147
)
   
(54,804
)
3/2019
 
10
 
U.S. Treasury Long Bond
   
(1,466,875
)
   
(73,768
)
3/2019
 
2
 
U.S. Treasury Note, 10 Year
   
(244,938
)
   
(6,784
)
Total Short Positions
 
$
(11,354,870
)
 
$
(286,776
)
Total Futures
   
$
11,034
 

 At January 31, 2019, the Fund had $394,272 deposited in a segregated account to cover margin requirements on open futures.

Forward foreign currency contracts ("forward contracts")
 
 
At January 31, 2019, open forward contracts for the Fund were as follows:
 
Currency Purchased
 
Currency Sold
Counterparty
 
Settlement
Date
   
Net
Unrealized
Appreciation/
(Depreciation)
               
1,519,555
 
AUD
1,066,127
 
USD
GSI
 
2/6/2019
   
$
38,468
776,086
 
AUD
552,091
 
USD
GSI
 
2/6/2019
     
12,062
1,391,894
 
AUD
1,009,567
 
USD
GSI
 
2/6/2019
     
2,229
1,027,871
 
USD
1,391,894
 
AUD
GSI
 
2/6/2019
     
16,075
2,296,635
 
BRL
584,713
 
USD
CITI
 
3/15/2019
     
43,478
2,344,264
 
BRL
609,375
 
USD
CITI
 
3/15/2019
     
31,844
2,357,114
 
BRL
611,613
 
USD
SCB
 
3/15/2019
     
33,120
20,443,590
 
BRL
5,454,824
 
USD
CITI
 
4/15/2019
     
123,583
1,400,000
 
BRL
372,965
 
USD
CITI
 
4/15/2019
     
9,050
1,315,257,288
 
CLP
1,942,773
 
USD
JPM
 
4/18/2019
     
62,847
6,326,758
 
CNY
912,618
 
USD
GSI
 
2/11/2019
     
30,900
363,910
 
CNY
54,208
 
USD
JPM
 
2/11/2019
     
62
7,550,783
 
CNY
1,119,049
 
USD
JPM
 
4/15/2019
     
6,657
7,534,528
 
CNY
1,084,105
 
USD
GSI
 
10/18/2019
     
36,146
1,799,218,791
 
COP
573,730
 
USD
CITI
 
2/15/2019
     
5,457
4,644,909,787
 
COP
1,463,586
 
USD
JPM
 
2/15/2019
     
31,660
3,082,024
 
EUR
79,917,775
 
CZK
JPM
 
3/22/2019
     
14,466
28,499,246
 
EGP
1,501,343
 
USD
JPM
 
4/15/2019
     
76,788
24,588,847
 
CZK
955,101
 
EUR
CITI
 
3/22/2019
     
3,402
194,711
 
EUR
221,366
 
USD
JPM
 
2/5/2019
     
1,519
297,495
 
EUR
339,160
 
USD
JPM
 
2/5/2019
     
1,381
400,000
 
EUR
455,675
 
USD
SSB
 
2/5/2019
     
2,203
297,495
 
EUR
340,921
 
USD
JPM
 
3/5/2019
     
426
2,381,783
 
EUR
2,726,997
 
USD
SSB
 
3/5/2019
     
5,866
3,600,000
 
RON
767,515
 
EUR
CITI
 
3/7/2019
     
11,556
1,300,000
 
RON
277,063
 
EUR
CITI
 
3/7/2019
     
4,064
838,193
 
RON
178,538
 
EUR
CITI
 
3/7/2019
     
2,503
7,507,441
 
RON
1,599,285
 
EUR
JPM
 
3/7/2019
     
22,617
222,013
 
USD
192,307
 
EUR
GSI
 
2/5/2019
     
1,880
110,899
 
USD
96,684
 
EUR
JPM
 
2/5/2019
     
225
5,346,297
 
USD
4,650,000
 
EUR
JPM
 
3/5/2019
     
10,877
5,542,528
 
USD
4,788,000
 
EUR
JPM
 
5/3/2019
     
20,492
258,953
 
USD
223,701
 
EUR
JPM
 
5/3/2019
     
957
490,194
 
EUR
156,220,866
 
HUF
CITI
 
3/22/2019
     
4,583
975,286
 
EUR
312,735,184
 
HUF
GSI
 
3/22/2019
     
16,098
489,101
 
EUR
155,872,004
 
HUF
CITI
 
4/30/2019
     
4,361
1,374,115
 
EUR
437,822,425
 
HUF
JPM
 
4/30/2019
     
11,903
3,422,233,237
 
IDR
235,367
 
USD
JPM
 
2/19/2019
     
10,077
1,898,193,474
 
IDR
130,514
 
USD
JPM
 
2/19/2019
     
5,626
1,265,192,686
 
IDR
86,943
 
USD
JPM
 
2/19/2019
     
3,797
15,362,561,691
 
IDR
1,081,871
 
USD
JPM
 
4/15/2019
     
12,221
1,110,926
 
USD
79,197,889
 
INR
GSI
 
4/15/2019
     
4,600
30,160,000
 
MXN
1,482,571
 
USD
CITI
 
4/3/2019
     
80,994
9,751,326
 
MXN
458,365
 
USD
CITI
 
4/3/2019
     
47,166
5,433,520
 
MXN
261,835
 
USD
CITI
 
4/3/2019
     
19,851
3,911,700
 
MXN
185,972
 
USD
CITI
 
4/3/2019
     
16,820
15,681,805
 
MXN
797,231
 
USD
CITI
 
4/3/2019
     
15,750
5,294,564
 
MXN
261,991
 
USD
CITI
 
4/3/2019
     
12,492
3,487,440
 
MXN
168,896
 
USD
CITI
 
4/3/2019
     
11,901
1,065,093
 
MXN
54,591
 
USD
CITI
 
4/3/2019
     
626
11,829,396
 
MXN
612,687
 
USD
CITI
 
4/3/2019
     
577
17,990,957
 
MXN
867,126
 
USD
GSI
 
4/3/2019
     
65,567
22,274,854
 
MXN
1,090,269
 
USD
GSI
 
4/3/2019
     
64,512
12,584,457
 
MXN
607,050
 
USD
GSI
 
4/3/2019
     
45,357
10,446,369
 
MXN
501,531
 
USD
GSI
 
4/3/2019
     
40,033
8,923,907
 
MXN
433,694
 
USD
GSI
 
4/3/2019
     
28,943
3,303,963
 
MXN
159,646
 
USD
GSI
 
4/3/2019
     
11,639
2,808,971
 
MXN
134,957
 
USD
GSI
 
4/3/2019
     
10,666
4,374,772
 
MXN
219,136
 
USD
GSI
 
4/3/2019
     
7,663
1,300,000
 
MXN
62,112
 
USD
GSI
 
4/3/2019
     
5,283
9,850,037
 
MXN
505,439
 
USD
GSI
 
4/3/2019
     
5,210
19,464,128
 
MXN
1,006,386
 
USD
GSI
 
4/3/2019
     
2,680
24,922,760
 
MXN
1,291,319
 
USD
GSI
 
4/3/2019
     
735
18,481,656
 
MXN
918,582
 
USD
JPM
 
4/3/2019
     
39,550
21,000,000
 
MXN
1,055,866
 
USD
JPM
 
4/3/2019
     
32,823
16,607,156
 
MXN
833,839
 
USD
JPM
 
4/3/2019
     
27,115
22,022,928
 
MXN
1,057,862
 
USD
SSB
 
4/3/2019
     
83,858
12,923,831
 
MXN
656,582
 
USD
SSB
 
4/3/2019
     
13,420
2,370,700
 
MXN
119,787
 
USD
SSB
 
4/3/2019
     
3,116
573,479
 
USD
11,018,559
 
MXN
CITI
 
4/3/2019
     
2,251
983,860
 
USD
18,974,536
 
MXN
GSI
 
4/3/2019
     
176
490,951
 
MYR
117,523
 
USD
SCB
 
3/4/2019
     
2,765
4,763,228
 
MYR
1,162,897
 
USD
SCB
 
3/11/2019
     
4,242
863,438
 
PEN
255,093
 
USD
GSI
 
3/5/2019
     
4,150
4,480,893
 
PEN
1,319,540
 
USD
JPM
 
3/5/2019
     
25,826
904,418
 
PEN
267,579
 
USD
JPM
 
3/5/2019
     
3,968
1,910,107
 
PEN
573,089
 
USD
JPM
 
3/5/2019
     
411
6,200,000
 
PHP
117,098
 
USD
GSI
 
2/19/2019
     
1,720
5,080,191
 
EUR
21,845,514
 
PLN
CITI
 
2/7/2019
     
52,982
317,684
 
EUR
1,368,644
 
PLN
CITI
 
2/7/2019
     
4,001
477,846
 
EUR
2,057,857
 
PLN
JPM
 
2/7/2019
     
5,804
425,017
 
EUR
1,832,072
 
PLN
GSI
 
5/7/2019
     
3,148
976,522
 
EUR
4,700,000
 
RON
CITI
 
3/1/2019
     
14,932
976,695
 
EUR
4,699,857
 
RON
CITI
 
3/1/2019
     
14,698
954,159
 
EUR
4,600,000
 
RON
CITI
 
3/7/2019
     
15,708
152,733
 
EUR
733,416
 
RON
CITI
 
3/7/2019
     
1,812
113,176
 
EUR
542,233
 
RON
CITI
 
3/7/2019
     
1,045
175,900,022
 
RUB
2,583,884
 
USD
GSI
 
3/6/2019
     
95,088
35,470,449
 
RUB
528,621
 
USD
GSI
 
3/6/2019
     
11,597
36,124,141
 
RUB
539,650
 
USD
GSI
 
3/6/2019
     
10,524
30,812,286
 
RUB
459,602
 
USD
GSI
 
3/6/2019
     
9,672
20,476,894
 
RUB
306,329
 
USD
GSI
 
3/6/2019
     
5,536
37,300,874
 
RUB
555,155
 
USD
JPM
 
3/6/2019
     
12,940
37,287,730
 
RUB
561,774
 
USD
JPM
 
3/6/2019
     
6,122
72,900,000
 
THB
2,219,854
 
USD
CITI
 
2/4/2019
     
113,506
9,089,810
 
THB
288,020
 
USD
JPM
 
2/4/2019
     
2,924
33,985,030
 
THB
1,040,971
 
USD
JPM
 
2/11/2019
     
46,968
24,700,000
 
THB
775,471
 
USD
JPM
 
3/11/2019
     
15,786
3,106,384
 
TRY
559,406
 
USD
CITI
 
3/11/2019
     
29,198
2,593,159
 
TRY
427,563
 
USD
GSI
 
3/11/2019
     
63,794
1,546,282
 
TRY
250,087
 
USD
GSI
 
3/11/2019
     
42,906
3,662,205
 
TRY
659,193
 
USD
GSI
 
3/11/2019
     
34,730
1,157,185
 
TRY
187,313
 
USD
GSI
 
3/11/2019
     
31,953
1,871,384
 
TRY
338,056
 
USD
GSI
 
3/11/2019
     
16,538
3,475,437
 
TRY
643,038
 
USD
GSI
 
3/11/2019
     
15,496
776,101
 
TRY
132,658
 
USD
GSI
 
3/11/2019
     
14,400
3,063,221
 
TRY
568,019
 
USD
GSI
 
3/11/2019
     
12,407
4,648,400
 
TRY
869,644
 
USD
GSI
 
3/11/2019
     
11,145
233,014
 
TRY
43,246
 
USD
GSI
 
3/11/2019
     
906
7,800,942
 
ZAR
546,548
 
USD
GSI
 
2/11/2019
     
41,130
7,387,543
 
ZAR
536,192
 
USD
GSI
 
2/11/2019
     
20,343
     
Total unrealized appreciation
$
2,257,721
 
588,169
 
USD
23,203,271
 
ARS
GSI
 
3/15/2019
     
(8,811)
555,921
 
USD
775,980
 
AUD
JPM
 
2/6/2019
     
(8,154)
1,080,350
 
USD
1,519,661
 
AUD
JPM
 
2/6/2019
     
(24,322)
341,728
 
USD
1,322,487
 
BRL
GSI
 
3/15/2019
     
(20,007)
418,872
 
USD
1,570,603
 
BRL
GSI
 
4/15/2019
     
(9,696)
97,086,243
 
CLP
148,523
 
USD
CITI
 
4/18/2019
     
(477)
963,119
 
USD
6,690,668
 
CNY
JPM
 
2/11/2019
     
(34,669)
54,224
 
USD
363,910
 
CNY
JPM
 
4/15/2019
     
(29)
1,026,075
 
USD
7,182,525
 
CNY
JPM
 
10/18/2019
     
(41,839)
472,778,600
 
COP
152,239
 
USD
JPM
 
2/15/2019
     
(47)
491,301
 
USD
1,546,045,238
 
COP
CITI
 
2/15/2019
     
(6,387)
75,225
 
USD
238,518,264
 
COP
GSI
 
2/15/2019
     
(1,557)
84,761
 
USD
266,234,773
 
COP
JPM
 
2/15/2019
     
(943)
171,839
 
EUR
4,436,223
 
CZK
GSI
 
3/22/2019
     
(67)
11,893,643
 
CZK
460,331
 
EUR
CITI
 
3/22/2019
     
(253)
386,732
 
EUR
443,570
 
USD
CITI
 
2/5/2019
     
(880)
4,582,751
 
EUR
5,255,027
 
USD
JPM
 
2/5/2019
     
(9,174)
191,083
 
EUR
219,593
 
USD
SCB
 
2/5/2019
     
(861)
4,788,000
 
EUR
5,501,704
 
USD
JPM
 
2/6/2019
     
(20,445)
198,582
 
EUR
228,588
 
USD
SCB
 
3/5/2019
     
(734)
1,832,072
 
PLN
427,183
 
EUR
GSI
 
2/7/2019
     
(3,146)
867,491
 
PLN
201,510
 
EUR
JPM
 
2/7/2019
     
(2,362)
3,100,000
 
PLN
718,676
 
EUR
JPM
 
2/7/2019
     
(10,073)
3,972,452
 
PLN
922,747
 
EUR
JPM
 
2/7/2019
     
(10,837)
15,500,000
 
PLN
3,593,890
 
EUR
JPM
 
2/7/2019
     
(49,782)
9,399,857
 
RON
1,970,827
 
EUR
CITI
 
3/1/2019
     
(9,432)
838,508
 
RON
175,592
 
EUR
CITI
 
3/7/2019
     
(955)
980,641
 
RON
206,157
 
EUR
GSI
 
3/7/2019
     
(196)
705,400
 
RON
147,369
 
EUR
GSI
 
3/7/2019
     
(1,203)
5,142,233
 
RON
1,074,640
 
EUR
JPM
 
3/7/2019
     
(8,370)
340,120
 
USD
297,495
 
EUR
JPM
 
2/5/2019
     
(421)
278,602
 
USD
245,420
 
EUR
JPM
 
2/5/2019
     
(2,329)
820,910
 
USD
719,707
 
EUR
JPM
 
2/5/2019
     
(2,935)
919,747
 
USD
806,918
 
EUR
JPM
 
2/5/2019
     
(3,929)
1,129,306
 
USD
990,580
 
EUR
JPM
 
2/5/2019
     
(4,606)
365,817
 
USD
321,879
 
EUR
SCB
 
2/5/2019
     
(2,637)
2,720,578
 
USD
2,381,783
 
EUR
SSB
 
2/5/2019
     
(5,837)
5,448,102
 
USD
4,788,000
 
EUR
SSB
 
2/6/2019
     
(33,157)
171,967
 
USD
150,000
 
EUR
JPM
 
3/5/2019
     
(144)
284,292
 
USD
247,949
 
EUR
JPM
 
3/5/2019
     
(206)
4,696,146,838
 
IDR
335,080
 
USD
JPM
 
4/15/2019
     
(630)
88,379
 
USD
1,253,692,673
 
IDR
CITI
 
2/19/2019
     
(1,536)
217,444
 
USD
3,198,596,865
 
IDR
GSI
 
2/19/2019
     
(11,961)
288,235
 
USD
4,224,077,547
 
IDR
JPM
 
2/19/2019
     
(14,718)
362,063
 
USD
5,318,343,997
 
IDR
JPM
 
2/19/2019
     
(19,371)
79,187
 
USD
1,125,558,771
 
IDR
GSI
 
4/15/2019
     
(973)
375,350
 
USD
5,370,128,689
 
IDR
GSI
 
4/15/2019
     
(7,100)
118,902,270
 
JPY
1,099,955
 
USD
SSB
 
3/18/2019
     
(4,627)
1,078,049
 
USD
117,516,156
 
JPY
GSI
 
3/18/2019
     
(4,511)
1,111,098
 
USD
1,234,652,478
 
KRW
JPM
 
4/15/2019
     
(1,066)
192,857,129
 
KZT
491,669
 
USD
JPM
 
7/31/2019
     
(570)
12,132,186
 
MXN
629,982
 
USD
CITI
 
4/3/2019
     
(1,021)
2,291,596
 
MXN
119,174
 
USD
GSI
 
4/3/2019
     
(372)
10,847,646
 
MXN
568,225
 
USD
GSI
 
4/3/2019
     
(5,857)
16,875,747
 
MXN
885,424
 
USD
JPM
 
4/3/2019
     
(10,545)
5,127
 
USD
100,000
 
MXN
CITI
 
4/3/2019
     
(57)
80,142
 
USD
1,583,097
 
MXN
CITI
 
4/3/2019
     
(1,929)
442,041
 
USD
8,577,291
 
MXN
CITI
 
4/3/2019
     
(2,626)
222,134
 
USD
4,406,232
 
MXN
CITI
 
4/3/2019
     
(6,296)
242,977
 
USD
5,000,000
 
MXN
CITI
 
4/3/2019
     
(16,235)
506,923
 
USD
10,403,139
 
MXN
CITI
 
4/3/2019
     
(32,400)
678,764
 
USD
14,000,000
 
MXN
CITI
 
4/3/2019
     
(47,029)
984,001
 
USD
20,055,762
 
MXN
CITI
 
4/3/2019
     
(55,737)
1,110,489
 
USD
22,517,687
 
MXN
CITI
 
4/3/2019
     
(56,881)
148,577
 
USD
3,000,000
 
MXN
GSI
 
4/3/2019
     
(6,950)
499,622
 
USD
9,783,829
 
MXN
GSI
 
4/3/2019
     
(7,595)
496,230
 
USD
9,779,064
 
MXN
GSI
 
4/3/2019
     
(10,739)
576,101
 
USD
11,379,990
 
MXN
GSI
 
4/3/2019
     
(13,864)
244,660
 
USD
5,000,000
 
MXN
GSI
 
4/3/2019
     
(14,552)
477,538
 
USD
9,522,772
 
MXN
GSI
 
4/3/2019
     
(16,145)
517,475
 
USD
10,339,374
 
MXN
GSI
 
4/3/2019
     
(18,542)
360,591
 
USD
7,500,000
 
MXN
GSI
 
4/3/2019
     
(28,226)
579,444
 
USD
12,000,000
 
MXN
GSI
 
4/3/2019
     
(42,664)
1,104,746
 
USD
22,718,943
 
MXN
GSI
 
4/3/2019
     
(73,057)
845,558
 
USD
17,932,353
 
MXN
GSI
 
4/3/2019
     
(84,097)
1,038,811
 
USD
20,417,835
 
MXN
JPM
 
4/3/2019
     
(19,697)
401,285
 
USD
8,132,749
 
MXN
JPM
 
4/3/2019
     
(20,336)
1,184,069
 
USD
23,515,602
 
MXN
JPM
 
4/3/2019
     
(35,035)
618,967
 
USD
12,693,878
 
MXN
JPM
 
4/3/2019
     
(39,113)
585,932
 
USD
12,223,411
 
MXN
SSB
 
4/3/2019
     
(47,759)
220,462
 
USD
922,679
 
MYR
SCB
 
2/28/2019
     
(5,608)
306,587
 
USD
1,280,000
 
MYR
SCB
 
2/28/2019
     
(7,032)
1,124,840
 
USD
4,722,304
 
MYR
SCB
 
2/28/2019
     
(32,196)
1,302,784
 
USD
5,464,528
 
MYR
SCB
 
3/4/2019
     
(36,077)
296,912
 
USD
1,222,387
 
MYR
SCB
 
3/11/2019
     
(2,611)
238,400
 
USD
809,250
 
PEN
JPM
 
3/5/2019
     
(4,573)
420,644
 
USD
1,421,357
 
PEN
JPM
 
3/5/2019
     
(6,111)
326,886
 
USD
1,106,674
 
PEN
SSB
 
3/5/2019
     
(5,387)
954,544
 
EUR
4,483,495
 
RON
CITI
 
3/7/2019
     
(12,865)
85,501
 
EUR
404,087
 
RON
GSI
 
3/7/2019
     
(552)
193,229
 
EUR
914,530
 
RON
GSI
 
3/7/2019
     
(930)
110,240
 
EUR
517,287
 
RON
GSI
 
3/7/2019
     
(1,609)
960,543
 
EUR
4,506,101
 
RON
JPM
 
3/7/2019
     
(14,291)
54,759
 
USD
3,705,847
 
RUB
GSI
 
3/6/2019
     
(1,681)
409,508
 
USD
27,117,593
 
RUB
GSI
 
3/6/2019
     
(3,496)
106,329
 
USD
3,463,195
 
THB
JPM
 
2/4/2019
     
(4,520)
216,935
 
USD
6,971,180
 
THB
JPM
 
2/4/2019
     
(6,196)
168,107
 
USD
5,500,000
 
THB
JPM
 
2/4/2019
     
(7,936)
172,651
 
USD
5,680,569
 
THB
JPM
 
2/4/2019
     
(9,171)
285,326
 
USD
9,328,699
 
THB
JPM
 
2/4/2019
     
(13,264)
723,431
 
USD
23,346,167
 
THB
JPM
 
2/4/2019
     
(23,826)
846,481
 
USD
27,700,000
 
THB
JPM
 
2/4/2019
     
(40,132)
973,278
 
USD
30,648,533
 
THB
CITI
 
3/11/2019
     
(8,539)
219,927
 
USD
7,012,541
 
THB
JPM
 
3/11/2019
     
(4,717)
481,230
 
USD
15,334,050
 
THB
JPM
 
3/11/2019
     
(9,992)
288,609
 
USD
9,089,810
 
THB
JPM
 
4/30/2019
     
(3,006)
498,550
 
USD
2,789,173
 
TRY
CITI
 
3/11/2019
     
(29,948)
513,992
 
USD
2,935,152
 
TRY
CITI
 
3/11/2019
     
(42,167)
573,054
 
USD
3,284,172
 
TRY
CITI
 
3/11/2019
     
(49,238)
430,266
 
USD
2,275,281
 
TRY
GSI
 
3/11/2019
     
(859)
157,514
 
USD
870,750
 
TRY
GSI
 
3/11/2019
     
(7,478)
276,753
 
USD
1,532,644
 
TRY
GSI
 
3/11/2019
     
(13,656)
250,739
 
USD
1,420,897
 
TRY
GSI
 
3/11/2019
     
(18,496)
252,356
 
USD
1,484,875
 
TRY
GSI
 
3/11/2019
     
(29,002)
265,924
 
USD
1,562,834
 
TRY
GSI
 
3/11/2019
     
(30,205)
520,230
 
USD
2,908,867
 
TRY
GSI
 
3/11/2019
     
(30,948)
163,952
 
USD
928,752
 
TRY
JPM
 
3/11/2019
     
(12,030)
277,621
 
USD
1,579,578
 
TRY
JPM
 
3/11/2019
     
(21,681)
617,675
 
USD
3,500,000
 
TRY
SCB
 
3/11/2019
     
(45,513)
175,292
 
USD
2,500,000
 
ZAR
CITI
 
2/11/2019
     
(13,043)
548,202
 
USD
7,648,042
 
ZAR
CITI
 
2/11/2019
     
(27,957)
228,459
 
USD
3,034,159
 
ZAR
GSI
 
2/11/2019
     
(117)
453,640
 
USD
6,366,881
 
ZAR
GSI
 
2/11/2019
     
(26,004)
291,070
 
USD
4,228,845
 
ZAR
GSI
 
2/11/2019
     
(27,507)
554,201
 
USD
7,769,562
 
ZAR
GSI
 
2/11/2019
     
(31,113)
580,569
 
USD
8,198,880
 
ZAR
GSI
 
2/11/2019
     
(37,087)
395,231
 
USD
5,750,000
 
ZAR
GSI
 
2/11/2019
     
(37,941)
465,204
 
USD
6,225,412
 
ZAR
JPM
 
2/11/2019
     
(3,783)
104,828
 
USD
1,445,345
 
ZAR
JPM
 
2/11/2019
     
(4,056)
     
Total unrealized depreciation
$
(1,930,475)
     
Total net unrealized appreciation
$
327,246

Credit default swap contracts ("credit default swaps")
 
At January 31, 2019, the Fund had outstanding credit default swaps as follows:
 
Over-the-counter credit default swaps — Sell Protection
 
Swap
Counterparty
 
Reference
Entity
 
Notional
Amount
Financing Rate Received  by the Fund
Payment Frequency
Maturity
Date
 

Upfront
Payments/
(Receipts)
 
Unrealized
Appreciation/
(Depreciation)
 
Accrued
Net
Interest
Receivable/
(Payable)
 

Value
JPM
 
Republic of Argentina, Senior Securities
USD 719,399
5.00%
3M
6/20/2023
$
48,072
$
(78,485)
$
4,296
$
(26,117)
 
 
Cross currency swap contracts ("cross currency swaps")
 
At January 31, 2019, the Fund had outstanding cross currency swaps as follows:
 
Over-the-counter cross currency swaps
         
 
Counterparty
 
Notional Amount
 
Portfolio
Pays/
Receives
Floating
Rate
 
Floating Rate Index
 
Annual Fixed-Rate
Frequency of Fund Receipt/ Payment
Maturity
Date
 
Unrealized
Appreciation/
(Depreciation)
Accrued Net Interest Receivable/ (Payable)
Value
 
                         
JPM
 
TRY 9,850,519
 
Receive
 
3-month LIBOR
 
22.94%
3M/1Y
3/11/2024
$
(537,777)
$—
$(537,777)
 
 
Interest rate swap contracts ("interest rate swaps")
 
At January 31, 2019, the Fund had outstanding interest rate swaps as follows:
 
Centrally cleared interest rate swaps
 
Clearinghouse
Notional
Amount
Fund
Pays/Receives
Floating Rate
Floating Rate
Index
Annual
Fixed-Rate
Frequency of Fund Receipt/ Payment
Maturity
Date
Unrealized
Appreciation/
(Depreciation)
Accrued Net Interest Receivable/ (Payable)
Value
CME
BRL 33,030,903
Receive
1-day Overnight Brazil (CETIP)
7.45%
T/T
1/2/2020
$
(84,798)
$
(22,244)
$
(107,042)
CME
BRL 1,808,999
Pay
1-day Overnight Brazil (CETIP)
7.89%
T/T
1/4/2021
 
8,601
 
1,161
 
9,762
CME
BRL 5,775,499
Pay
1-day Overnight Brazil (CETIP)
9.46%
T/T
1/3/2022
 
89,078
 
30,956
 
120,034
CME
BRL 588,077
Pay
1-day Overnight Brazil (CETIP)
9.26%
T/T
1/2/2023
 
8,239
 
3,111
 
11,350
CME
BRL 1,568,375
Pay
1-day Overnight Brazil (CETIP)
11.45%
T/T
1/2/2025
 
82,505
 
12,938
 
95,443
CME
BRL 1,836,954
Pay
1-day Overnight Brazil (CETIP)
12.34%
T/T
1/2/2025
 
128,390
 
18,037
 
146,427
LCH
CNY 8,000,000
Pay
7-day China Fixing Repo Rates
2.76%
3M/3M
1/9/2024
 
(1,590)
 
175
 
(1,415)
LCH
CZK 17,000,000
Receive
6-month Prague Interbank Offer Rate (PRIBOR)
1.58%
6M/1Y
1/11/2023
 
8,888
 
215
 
9,103
LCH
CZK 25,652,892
Receive
6-month Prague Interbank Offer Rate (PRIBOR)
1.76%
6M/1Y
1/7/2024
 
3,522
 
247
 
3,769
LCH
CZK 8,000,000
Receive
6-month Prague Interbank Offer Rate (PRIBOR)
1.94%
6M/1Y
2/26/2028
 
(5,984)
 
(4,048)
 
(10,032)
LCH
HUF 300,000,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
2.05%
6M/1Y
11/23/2023
 
(24,681)
 
(3,681)
 
(28,362)
LCH
HUF 125,000,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
1.81%
6M/1Y
12/13/2023
 
(5,125)
 
(959)
 
(6,084)
LCH
HUF 93,450,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
2.38%
6M/1Y
6/7/2028
 
(5,625)
 
(5,137)
 
(10,762)
LCH
HUF 73,550,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
2.44%
6M/1Y
6/8/2028
 
(5,788)
 
(4,136)
 
(9,924)
LCH
HUF 155,015,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
2.70%
6M/1Y
6/13/2028
 
(24,698)
 
(9,477)
 
(34,175)
CME
MXN 55,942,028
Receive
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
8.09%
28D/28D
1/28/2021
 
(2,140)
 
 
(2,140)
CME
MXN 57,243,005
Receive
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
8.15%
28D/28D
1/28/2021
 
(3,663)
 
 
(3,663)
CME
MXN 3,500,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
7.71%
28D/28D
1/21/2022
 
(2,198)
 
(32)
 
(2,230)
CME
MXN 15,505,918
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
7.58%
28D/28D
1/28/2022
 
(12,612)
 
(642)
 
(13,254)
CME
MXN 12,211,377
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
6.75%
28D/28D
6/23/2022
 
(26,830)
 
(718)
 
(27,548)
CME
MXN 34,769,500
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
6.71%
28D/28D
7/7/2022
 
(79,132)
 
(764)
 
(79,896)
CME
MXN 19,000,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
7.35%
28D/28D
3/20/2024
 
(35,102)
 
(69)
 
(35,171)
CME
MXN 1,800,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
7.72%
28D/28D
12/3/2026
 
(3,561)
 
(50)
 
(3,611)
CME
MXN 3,300,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
8.16%
28D/28D
12/28/2026
 
(2,141)
 
(52)
 
(2,193)
CME
MXN 9,380,123
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
7.92%
28D/28D
1/22/2027
 
(13,347)
 
(259)
 
(13,606)
CME
MXN 6,685,611
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
7.51%
28D/28D
4/20/2027
 
(18,786)
 
(252)
 
(19,038)
LCH
PLN 2,655,221
Pay
6-month Warsaw Interbank Offered Rate (WIBOR)
2.21%
6M/1Y
11/16/2021
 
7,859
 
629
 
8,488
LCH
PLN 1,250,000
Pay
6-month Poland Warsaw Interbank Offer Rate (WIBOR)
2.33%
6M/1Y
4/6/2022
 
5,135
 
4,542
 
9,677
LCH
ZAR 101,293,721
Receive
3-month Johannesburg International Interbank Agreed Rate (JIBAR)
7.29%
3M/3M
1/7/2021
 
(21,806)
 
(719)
 
(22,525)
Total
$
(37,390)
$
18,772
$
(18,618)
 
 
At January, 31, 2019, the Fund had $406,606 deposited in a segregated account to cover collateral requirements on centrally cleared swaps.
 
 
See Notes to Schedule of Investments

Schedule of Investments Emerging Markets Debt Fund^
(Unaudited) (cont’d)
 
 
Over-the-counter interest rate swaps
 
Counterparty
Notional Amount
Fund
Pays/
Receives
Floating
Rate
Floating Rate Index
Annual
Fixed-Rate
Frequency of Fund Receipt/ Payment
Maturity
Date
Unrealized
Appreciation/
(Depreciation)
Accrued Net Interest Receivable/ (Payable)
Value
         
GSI
BRL 1,152,498
Pay
1-day Overnight Brazil (CETIP)
9.73%
T/T
1/2/2020
$
10,611
$
13,065
$
23,676
GSI
BRL 1,000,000
Pay
1-day Overnight Brazil (CETIP)
11.99%
T/T
1/2/2023
 
63,880
 
16,508
 
80,388
JPM
BRL 930,916
Pay
1-day Overnight Brazil (CETIP)
9.61%
T/T
1/2/2020
 
8,270
 
9,791
 
18,061
JPM
BRL 1,984,200
Pay
1-day Overnight Brazil (CETIP)
9.07%
T/T
1/2/2020
 
14,439
 
16,506
 
30,945
JPM
BRL 1,063,932
Pay
1-day Overnight Brazil (CETIP)
11.46%
T/T
1/2/2020
 
15,819
 
20,792
 
36,611
JPM
BRL 31,354
Pay
1-day Overnight Brazil (CETIP)
10.23%
T/T
1/4/2021
 
603
 
436
 
1,039
JPM
BRL 489,151
Pay
1-day Overnight Brazil (CETIP)
10.04%
T/T
1/4/2021
 
8,761
 
6,346
 
15,107
JPM
BRL 1,332,786
Pay
1-day Overnight Brazil (CETIP)
8.66%
T/T
1/4/2021
 
12,540
 
9,533
 
22,073
JPM
BRL 1,614,106
Pay
1-day Overnight Brazil (CETIP)
9.28%
T/T
1/4/2021
 
21,156
 
15,583
 
36,739
JPM
BRL 2,116,417
Pay
1-day Overnight Brazil (CETIP)
9.18%
T/T
1/4/2021
 
26,050
 
18,258
 
44,308
JPM
BRL 2,071,383
Pay
1-day Overnight Brazil (CETIP)
9.20%
T/T
1/4/2021
 
26,295
 
19,446
 
45,741
JPM
BRL 7,778,457
Pay
1-day Overnight Brazil (CETIP)
8.87%
T/T
1/4/2021
 
83,139
 
62,669
 
145,808
JPM
CLP 231,188,535
Pay
Sinacofi Chile Interbank Rate Avg. (CLICP)
3.43%
6M/6M
5/10/2022
 
(342)
 
531
 
189
GSI
CNY 8,000,000
Pay
7-day China Fixing Repo Rates
2.77%
3M/3M
1/9/2024
 
(1,039)
 
182
 
(857)
GSI
COP 270,032,867
Pay
1-day Colombia Overnight Interbank Reference Rate (IBRCOL)
5.36%
3M/3M
5/23/2022
 
1,198
 
207
 
1,405
JPM
COP 996,329,313
Pay
1-day Colombia Overnight Interbank Reference Rate (IBRCOL)
5.30%
3M/3M
10/23/2022
 
3,255
 
85
 
3,340
GSI
HUF 359,014,464
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
1.27%
6M/1Y
1/9/2022
 
(4,473)
 
(777)
 
(5,250)
GSI
HUF 500,000,000
Pay
6-month Budapest Interbank Offer Rate (BUBOR)
0.84%
6M/1Y
9/21/2022
 
(31,397)
 
3,259
 
(28,138)
JPM
HUF 600,000,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
0.85%
6M/1Y
10/10/2019
 
(6,830)
 
(3,672)
 
(10,502)
JPM
HUF 382,000,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
0.69%
6M/1Y
4/20/2020
 
(1,999)
 
(6,382)
 
(8,381)
JPM
HUF 128,246,450
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
1.38%
6M/1Y
6/17/2021
 
(4,424)
 
(3,850)
 
(8,274)
JPM
HUF 45,000,000
Receive
6-month Budapest Interbank Offer Rate (BUBOR)
1.30%
6M/1Y
4/6/2022
 
(439)
 
(1,590)
 
(2,029)
GSI
ILS 20,000,000
Receive
3-month Tel Aviv Interbank Offer Rate (TELBOR)
0.57%
3M/1Y
11/26/2020
 
(10,070)
 
(4,262)
 
(14,332)
CITI
ILS 20,724,328
Receive
3-month Tel Aviv Interbank Offer Rate (TELBOR)
0.72%
3M/1Y
12/12/2020
 
(25,758)
 
(3,592)
 
(29,350)
GSI
ILS 8,000,000
Pay
3-month Tel Aviv Interbank Offer Rate (TELBOR)
1.34%
3M/1Y
11/26/2023
 
29,274
 
4,815
 
34,089
CITI
ILS 8,536,708
Pay
3-month Tel Aviv Interbank Offer Rate (TELBOR)
1.40%
3M/1Y
12/12/2023
 
37,812
 
3,718
 
41,530
GSI
MXN 9,000,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
5.37%
28D/28D
3/17/2021
 
(26,738)
 
(379)
 
(27,117)
GSI
MXN 28,033,731
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
5.90%
28D/28D
9/12/2022
 
(104,301)
 
(2,739)
 
(107,040)
GSI
MXN 10,713,184
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
6.21%
28D/28D
12/8/2025
 
(61,775)
 
(669)
 
(62,444)
GSI
MXN 9,462,643
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
6.17%
28D/28D
3/5/2026
 
(57,488)
 
(501)
 
(57,989)
GSI
MXN 5,000,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
6.38%
28D/28D
9/16/2026
 
(29,382)
 
(257)
 
(29,639)
JPM
MXN 7,500,000
Pay
28-day Mexican Interbank Equilibrium Interest Rate (TIIE)
6.13%
28D/28D
6/18/2026
 
(48,145)
 
(588)
 
(48,733)
GSI
RUB 337,196,904
Pay
3-month Moscow Prime Offered Rate (MOSPRIME)
6.78%
3M/1Y
2/22/2020
 
(113,319)
 
 
(113,319)
GSI
RUB 450,000,000
Pay
3-month Moscow Prime Offered Rate (MOSPRIME)
6.53%
3M/1Y
3/27/2020
 
(166,765)
 
 
(166,765)
GSI
ZAR 18,000,000
Receive
3-month Johannesburg International Interbank Agreed Rate (JIBAR)
8.02%
3M/3M
5/18/2028
 
(12,051)
 
(2,749)
 
(14,800)
Total
$
(343,633)
$
189,723
$
(153,910)
 
At January 31, 2019, the Fund had cash collateral of $460,000 and $240,000 deposited in a segregated account for Goldman Sachs International and JPMorgan Chase Bank, N.A., respectively to cover collateral requirements on over-the-counter derivatives.
 
 
See Notes to Schedule of Investments

Schedule of Investments Emerging Markets Debt Fund^
(Unaudited) (cont’d)
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
Corporate Bonds(a)
 
$
   
$
55,706
   
$
   
$
55,706
 
Foreign Government Securities(a)
   
     
153,726
     
     
153,726
 
U.S. Treasury Obligations
   
     
1,657
     
     
1,657
 
Short-Term Investments
   
     
10,545
     
     
10,545
 
Total Investments
 
$
   
$
221,634
   
$
   
$
221,634
 
 
(a)
The Schedule of Investments provides a geographic categorization as well as a Positions by Industry summary.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of January 31, 2019:
 
Other Financial Instruments
       
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets
 
Futures(a)
                       
Assets
 
$
298
   
$
   
$
   
$
298
 
Liabilities
   
(287
)
   
     
     
(287
)
Forward Contracts(a)
                               
Assets
   
     
2,258
     
     
2,258
 
Liabilities
   
     
(1,931
)
   
     
(1,931
)
Swaps
                               
Assets
   
     
995
     
     
995
 
Liabilities
   
     
(1,731
)
   
     
(1,731
)
Total
 
$
11
   
$
(409
)
 
$
   
$
(398
)
 
(a)
Futures and forward contracts are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^ A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.


 
See Notes to Schedule of Investments

Schedule of Investments Floating Rate Income Fund^
(Unaudited) January 31, 2019
 
 
NUMBER OF
SHARES
   
VALUE
(000's omitted)
 
Common Stocks 0.2%
 
Business Equipment & Services 0.1%
   
22
 
Brock Holdings III, Inc.
$
436
*(a)(b)(c)
 
Media - Broadcast 0.1%
   
16
 
Cumulus Media, Inc., Class A
 
198
*
 
 
Total Common Stocks (Cost $592)
 
634
 
 
PRINCIPAL
AMOUNT
     
(000's omitted)
     
 
Loan Assignments(d) 87.6%
 
Aerospace & Defense 1.4%
 
$
585
 
Accudyne Industries, LLC, Term Loan, (USD LIBOR + 3.00%), due 8/18/24
 
570
(e)(f)
   
752
 
Atlantic Aviation FBO Inc., Term Loan B, (1 month USD LIBOR + 3.75%), 6.27%, due 11/29/25
 
754
(c)
       
DAE Aviation Holdings, Inc.
     
   
192
 
Term Loan, (USD LIBOR + 4.00%), due 1/23/26
 
191
(e)(f)
   
358
 
Term Loan B, (USD LIBOR + 4.00%), due 1/23/26
 
356
(e)(f)
   
2,112
 
TransDigm, Inc., Term Loan F, (1 month USD LIBOR + 2.50%), 5.00%, due 6/9/23
 
2,065
 
 
3,936
 
Air Transport 0.1%
   
335
 
American Airlines, Inc., Term Loan B, (1 month USD LIBOR + 1.75%), 4.25%, due 6/27/25
 
320
 
 
Automotive 1.8%
       
ABRA Auto
     
   
843
 
First Lien Term Loan, (2 month USD LIBOR + 3.00%), 5.62%, due 9/17/21
 
840
 
   
700
 
Second Lien Term Loan, (2 month USD LIBOR + 7.25%), 9.84%, due 9/19/22
 
697
 
   
1,063
 
Belron, Term Loan B, (3 month USD LIBOR + 2.25%), 4.84%, due 11/7/24
 
1,048
(c)
   
728
 
Caliber Collision, First Lien Term Loan, (3 month USD LIBOR + 2.00%), 7.50%, due 2/1/24
 
725
 
   
1,865
 
Wand Intermediate I LP, First Lien Term Loan, (2 month USD LIBOR + 3.00%), 5.62%, due 1/15/26
 
1,860
 
 
5,170
 
Building & Development 4.0%
   
739
 
American Builders & Contractors Supply Co., Inc., Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 10/31/23
 
720
 
   
638
 
Beacon Roofing Supply, Term Loan B, (1 month USD LIBOR + 2.25%), 4.77%, due 1/2/25
 
620
 
       
Capital Automotive LP
     
   
788
 
First Lien Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 3/24/24
 
765
 
   
963
 
Second Lien Term Loan, (1 month USD LIBOR + 6.00%), 8.50%, due 3/24/25
 
956
 
   
732
 
CPG International Inc., Term Loan, (6 month USD LIBOR + 3.75%), 6.63%, due 5/5/24
 
706
 
   
1,756
 
DTZ U.S. Borrower LLC, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 8/21/25
 
1,720
 
   
1,098
 
Forterra, Term Loan B, (1 month USD LIBOR + 3.00%), 5.50%, due 10/25/23
 
1,004
 
   
1,100
 
HD Supply Waterworks, Term Loan B, (3 month USD LIBOR + 3.00%), 5.72%, due 8/1/24
 
1,085
(g)
   
303
 
HD Supply, Inc., Term Loan B5, (1 month USD LIBOR + 1.75%), 4.25%, due 10/17/23
 
299
 
   
279
 
NCI Building Systems, Inc., Term Loan, (3 month USD LIBOR + 3.75%), 6.55%, due 4/12/25
 
266
 
 
 
683
 
Quikrete, First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 11/15/23
 
661
 
   
762
 
Realogy Corporation, Term Loan B, (1 month USD LIBOR + 2.25%), 4.76%, due 2/8/25
 
741
 
   
282
 
Reece Limited, Term Loan B, (3 month USD LIBOR + 2.00%), 4.81%, due 7/2/25
 
279
(c)
   
1,166
 
VICI Properties 1 LLC, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 12/20/24
 
1,144
 
   
585
 
Wilsonart LLC, Term Loan B, (USD LIBOR + 3.25%), due 12/19/23
 
578
 
 
11,544
 
Business Equipment & Services 9.5%
   
1,049
 
Acosta Inc., Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 9/26/21
 
489
 
       
Advantage Sales and Marketing
     
   
631
 
Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 7/25/21
 
549
 
   
640
 
Second Lien Term Loan, (1 month USD LIBOR + 6.50%), 9.00%, due 7/25/22
 
481
 
   
752
 
Alixpartners, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 4/4/24
 
742
 
   
357
 
BrightView Landscapes, LLC, First Lien Term Loan B, (1 month USD LIBOR + 2.50%), 5.06%, due 8/15/25
 
352
(c)
   
260
 
Cast and Crew Payroll, LLC, First Lien Term Loan, (USD LIBOR + 4.00%), due 1/17/26
 
260
(e)(f)
   
705
 
CCC Information Services Inc., First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 4/26/24
 
686
(e)(f)
   
1,447
 
Ceridian HCM Holding Inc., 2018 Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 4/30/25
 
1,428
(e)(f)
   
1,798
 
Change Healthcare Holdings, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 3/1/24
 
1,759
 
       
DiscoverOrg, LLC
     
   
630
 
First Lien Term Loan, (USD LIBOR + 4.50%),  due 1/28/26
 
625
(c)(e)(f)
   
95
 
Second Lien Term Loan, (USD LIBOR + 8.50%),  due 1/28/27
 
95
(c)(e)(f)
   
520
 
Dorna Sports, S.L., Term Loan B, (USD LIBOR + 3.00%), due 4/12/24
 
506
(a)(e)(f)
   
1,330
 
Duff & Phelps Corporation, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 2/13/25
 
1,280
 
   
887
 
EIG Investors Corp., 2018 First Lien Term Loan, (USD LIBOR + 3.75%), 6.44%, due 2/9/23
 
872
(g)
   
809
 
Element Materials, Term Loan B, (3 month USD LIBOR + 3.50%), 6.30%, due 6/28/24
 
799
 
   
625
 
Financial & Risk US Holdings, Inc., Term Loan, (1 month USD LIBOR + 3.75%), 6.25%, due 10/1/25
 
600
 
   
205
 
FrontDoor Inc, Term Loan B, (USD LIBOR + 2.50%), due 8/14/25
 
204
(e)(f)
   
1,546
 
Garda World Security, Term Loan, (3 month USD LIBOR + 3.50%), 6.24%, due 5/24/24
 
1,516
(e)(f)
   
1,027
 
Greeneden U.S. Holdings II, LLC, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 12/1/23
 
1,002
 
   
448
 
Iron Mountain, Inc., Term Loan B, (1 month USD LIBOR + 1.75%), 4.25%, due 1/2/26
 
434
 
       
Kronos
     
   
1,224
 
Term Loan B, (USD LIBOR + 3.00%), 5.54%, due 11/1/23
 
1,199
 
   
230
 
Second Lien Term Loan, (3 month USD LIBOR + 8.25%), 10.79%, due 11/1/24
 
233
 
   
1,308
 
Minimax GmbH & Co. KG, Term Loan B1C, (1 month USD LIBOR + 3.00%), 5.50%, due 7/31/25
 
1,295
 
       
On Assignment
     
   
335
 
Term Loan B1, (1 month USD LIBOR + 2.00%), 4.50%, due 6/3/22
 
331
 
   
268
 
Term Loan B2, (1 month USD LIBOR + 2.00%), 4.50%, due 4/2/25
 
264
 
   
1,335
 
Presidio, Term Loan B, (USD LIBOR + 2.75%), 5.54%, due 2/2/24
 
1,318
(g)
 
 
1,762
 
Protection One, First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 5/2/22
 
1,736
 
   
387
 
Servicemaster Company, Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 11/8/23
 
384
 
   
1,417
 
Solera, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 3/3/23
 
1,386
 
   
667
 
Switch Ltd., Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 6/27/24
 
655
 
   
1,255
 
Tempo Acquisition LLC, Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 5/1/24
 
1,231
(e)(f)
   
1,560
 
West, Term Loan, (1 month USD LIBOR + 4.00%), 6.50%, due 10/10/24
 
1,428
 
   
353
 
West Corporation, Term Loan B1, (1 month USD LIBOR + 3.50%), 6.00%, due 10/10/24
 
320
 
   
788
 
Wex, Term Loan B2, (1 month USD LIBOR + 2.25%), 4.75%, due 6/30/23
 
775
 
   
450
 
William Morris Endeavor Entertainment, LLC, First Lien Term Loan, (USD LIBOR + 2.75%), due 5/18/25
 
423
(e)(f)
 
27,657
 
Cable & Satellite Television 5.2%
   
366
 
Altice Financing, Term Loan B, (3 month USD LIBOR + 2.75%), 5.23%, due 7/15/25
 
340
 
   
1,746
 
Altice France S.A., Term Loan B13, (1 month USD LIBOR + 4.00%), 6.51%, due 8/14/26
 
1,644
 
   
435
 
Altice US Finance I Corporation, Term Loan, (1 month USD LIBOR + 2.25%), 4.76%, due 1/15/26
 
419
 
   
967
 
Cablevision Systems Corp., First Lien Term Loan, (1 month USD LIBOR + 2.25%), 4.76%, due 7/17/25
 
935
 
   
1,226
 
Charter Communications Operating, LLC, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 4/30/25
 
1,208
 
   
546
 
Cogeco Communications (USA) II L.P., First Lien Term Loan, (1 month USD LIBOR + 2.38%), 4.87%, due 1/3/25
 
534
 
   
551
 
Lions Gate Entertainment Corp., Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 3/24/25
 
541
 
   
126
 
Mission Broadcasting, Inc., Term Loan B3, (3 month USD LIBOR + 2.25%), 4.76%, due 1/17/24
 
122
 
   
731
 
Nexstar Broadcasting, Inc., Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 1/17/24
 
706
 
   
1,444
 
Numericable, Term Loan B11, (1 month USD LIBOR + 2.75%), 5.25%, due 7/31/25
 
1,329
 
   
1,685
 
RCN Grande, First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 2/1/24
 
1,634
 
   
920
 
Telenet Financing USD LLC, Term Loan AN, (1 month USD LIBOR + 2.25%), 4.76%, due 8/15/26
 
894
 
   
660
 
Unity Media, Term Loan B, (1 month USD LIBOR + 2.25%), 4.76%, due 9/30/25
 
649
 
   
1,083
 
UPC Financing Partnership, Term Loan AR, (1 month USD LIBOR + 2.50%), 5.01%, due 1/15/26
 
1,065
 
   
1,205
 
Virgin Media, Term Loan K, (1 month USD LIBOR + 2.50%), 5.01%, due 1/15/26
 
1,182
 
   
750
 
Wide Open West, Term Loan B, (USD LIBOR + 3.25%), due 8/18/23
 
715
(e)(f)
   
1,060
 
Ziggo Secured, Term Loan E, (1 month USD LIBOR + 2.50%), 5.01%, due 4/15/25
 
1,024
 
 
14,941
 
Chemicals & Plastics 3.4%
       
Allnex
     
   
335
 
Term Loan B2, (3 month USD LIBOR + 3.25%), 5.96%, due 9/13/23
 
329
 
   
252
 
Term Loan B3, (3 month USD LIBOR + 3.25%), 5.96%, due 9/13/23
 
248
 
   
1,649
 
Diversey, Term Loan, (USD LIBOR + 3.00%), 5.74%, due 9/6/24
 
1,551
(g)
 
 
440
 
Dupont Performance Coatings, Term Loan, (USD LIBOR + 1.75%), due 6/1/24
 
431
(e)(f)
   
441
 
HB Fuller, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 10/20/24
 
432
 
   
435
 
Ineos Finance PLC, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 3/31/24
 
422
 
       
Invictus U.S., LLC
     
   
481
 
First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 3/28/25
 
473
 
   
150
 
Second Lien Term Loan, (1 month USD LIBOR + 6.75%), 9.25%, due 3/28/26
 
148
(c)
   
675
 
Messer Industries, L.L.C., Term Loan, (USD LIBOR + 2.50%), due 10/1/25
 
660
(e)(f)
   
691
 
PQ Corporation, Term Loan B, (3 month USD LIBOR + 2.50%), 5.24%, due 2/8/25
 
672
 
   
781
 
Solenis International, LP, 2018 First Lien Term Loan, (3 month USD LIBOR + 4.00%), 6.71%, due 12/26/23
 
766
 
   
2,015
 
Starfruit Finco B.V., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 10/1/25
 
1,968
 
   
1,736
 
Univar USA, Inc., Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 7/1/24
 
1,698
 
 
9,798
 
Conglomerates 0.2%
   
721
 
Penn Engineering, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 6/27/24
 
711
 
 
Containers & Glass Products 2.9%
   
656
 
Albea Beauty Holdings S.A, Term Loan B2, (USD LIBOR + 3.00%), 5.89%, due 4/22/24
 
635
(g)
   
1,731
 
Berlin Packaging LLC, First Lien Term Loan, (USD LIBOR + 3.00%), 5.55%, due 11/7/25
 
1,662
(g)
       
Berry Global, Inc.
     
   
53
 
Term Loan S, (1 month USD LIBOR + 1.75%), 4.27%, due 2/8/20
 
52
 
   
335
 
Term Loan T, (1 month USD LIBOR + 1.75%), 4.27%, due 1/6/21
 
333
 
   
653
 
Term Loan R, (1 month USD LIBOR + 2.00%), 4.52%, due 1/19/24
 
645
 
   
1,344
 
BWAY Corporation, Term Loan B, (3 month USD LIBOR + 3.25%), 6.03%, due 4/3/24
 
1,294
(e)(f)
   
701
 
Consolidated Container, First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 5/22/24
 
684
 
   
1,452
 
Reynolds Group, Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 2/5/23
 
1,431
 
   
855
 
Tricorbraun, First Lien Term Loan, (3 month USD LIBOR + 3.75%), 6.55%, due 11/30/23
 
842
(g)
   
1,016
 
Trident TPI Holdings, Inc., Term Loan B1, (1 month USD LIBOR + 3.25%), 5.75%, due 10/17/24
 
979
 
 
8,557
 
Cosmetics - Toiletries 0.2%
   
544
 
Prestige Brands, Inc., Term Loan B4, (1 month USD LIBOR + 2.00%), 4.50%, due 1/26/24
 
536
 
 
Diversified Insurance 0.7%
   
1,995
 
Sedgwick Claims Management Services, Inc., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 12/31/25
 
1,942
 
 
Drugs 3.6%
   
730
 
Akorn, Inc., Term Loan B, (1 month USD LIBOR + 5.50%), 8.00%, due 4/16/21
 
585
 
   
1,708
 
Amneal Pharmaceuticals LLC, Term Loan B, (1 month USD LIBOR + 3.50%), 6.00%, due 5/4/25
 
1,690
 
 
 
25
 
Bausch Health Companies Inc., Term Loan B, (1 month USD LIBOR + 2.75%), 5.26%, due 11/27/25
 
24
 
   
1,590
 
Endo Luxembourg Finance Company I S.a.r.l., Term Loan B, (1 month USD LIBOR + 4.25%), 6.75%, due 4/29/24
 
1,573
 
   
2,117
 
Jaguar Holding Company II, Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 8/18/22
 
2,072
 
   
1,390
 
Mallinckrodt International, Term Loan B, (3 month USD LIBOR + 2.75%), 5.55%, due 9/24/24
 
1,291
 
   
202
 
Mallinckrodt International Finance S.A., Term Loan B, (3 month USD LIBOR + 3.00%), 5.62%, due 2/24/25
 
190
 
   
130
 
Pharmaceutical Technologies & Services, Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 5/20/24
 
129
 
   
2,866
 
Valeant Pharmaceuticals International, Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.51%, due 6/2/25
 
2,833
 
 
10,387
 
Ecological Services & Equipment 0.7%
   
1,497
 
ADS Waste Holdings, Inc., Term Loan B3, (1 week USD LIBOR + 2.25%), 4.66%, due 11/10/23
 
1,479
 
   
469
 
GFL Environmental Inc., Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 5/30/25
 
451
 
 
1,930
 
Electronics - Electrical 8.3%
       
Applied Systems
     
   
1,205
 
First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 9/19/24
 
1,174
 
   
500
 
Second Lien Term Loan, (1 month USD LIBOR + 7.00%), 9.50%, due 9/19/25
 
497
 
   
1,452
 
Avast Software B.V., Term Loan B, (3 month USD LIBOR + 2.50%), 5.30%, due 9/30/23
 
1,433
 
   
1,385
 
Datatel-Sophia LP, Term Loan B, (3 month USD LIBOR + 3.25%), 6.05%, due 9/30/22
 
1,354
 
   
1,157
 
Dell, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 9/7/23
 
1,140
 
       
Dynatrace LLC
     
   
725
 
First Lien Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 8/22/25
 
716
(e)(f)
   
144
 
Second Lien Term Loan, (1 month USD LIBOR + 7.00%), 9.50%, due 8/21/26
 
143
(e)(f)
   
1,250
 
Go Daddy, Term Loan, (1 month USD LIBOR + 2.25%), 4.75%, due 2/15/24
 
1,233
 
       
Hyland Software, Inc.
     
   
853
 
Term Loan 3, (1 month USD LIBOR + 3.50%), 6.00%, due 7/1/24
 
841
 
   
461
 
Second Lien Term Loan, (1 month USD LIBOR + 7.00%), 9.50%, due 7/7/25
 
455
 
   
450
 
IFS, Term Loan B, (3 month USD LIBOR + 3.75%), 6.56%, due 7/31/24
 
435
 
   
1,819
 
Infor Global Solutions Ltd., Term Loan B6, (1 month USD LIBOR + 2.75%), 5.25%, due 2/1/22
 
1,807
 
   
580
 
Informatica LLC, Term Loan, (USD LIBOR + 3.25%), due 8/5/22
 
578
(e)(f)
   
800
 
Lumentum Holdings, First Lien Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 8/7/25
 
786
(c)
       
McAfee, LLC
     
   
1,441
 
Term Loan B, (1 month USD LIBOR + 3.75%), 6.25%, due 9/30/24
 
1,432
(e)(f)
   
285
 
Second Lien Term Loan, (USD LIBOR + 8.50%), due 9/29/25
 
289
(c)(e)(f)
   
570
 
Microchip Technology Incorporated, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 5/29/25
 
560
 
   
185
 
MKS Instruments, Inc., Term Loan B5, (USD LIBOR + 2.25%), due 1/18/26
 
185
(e)(f)
       
Optiv, Inc.
     
 
 
1,322
 
First Lien Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 2/1/24
 
1,223
 
   
425
 
Second Lien Term Loan, (1 month USD LIBOR + 7.25%), 9.75%, due 2/1/25
 
391
 
   
2,916
 
Rackspace Hosting, Inc., First Lien Term Loan, (3 month USD LIBOR + 3.00%), 5.58%, due 11/3/23
 
2,699
 
   
893
 
Riverbed Technology, Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 4/24/22
 
816
 
   
284
 
Southwire Company, Term Loan B, (1 month USD LIBOR + 2.00%), 4.51%, due 5/19/25
 
280
 
   
597
 
SS&C Technologies Holdings Europe S.A.R.L., Term Loan B4, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
585
 
   
1,552
 
SS&C Technologies Inc., Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
1,520
 
   
1,080
 
Vertafore, Inc., First Lien Term Loan, (3 month USD LIBOR + 3.25%), 6.05%, due 7/2/25
 
1,047
 
   
516
 
Western Digital Corporation, Term Loan B4, (1 month USD LIBOR + 1.75%), 4.26%, due 4/29/23
 
503
 
 
24,122
 
Equipment Leasing 0.6%
   
1,674
 
Avolon TLB Borrower 1 (US) LLC, Term Loan B3, (1 month USD LIBOR + 2.00%), 4.50%, due 1/15/25
 
1,656
 
 
Financial Intermediaries 2.2%
   
1,000
 
CITCO, Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 9/28/23
 
975
 
       
Edelman Financial Center, LLC
     
   
770
 
First Lien Term Loan, (3 month USD LIBOR + 3.25%), 6.04%, due 7/21/25
 
762
 
   
240
 
Second Lien Term Loan, (3 month USD LIBOR + 6.75%), 9.54%, due 7/20/26
 
235
 
   
1,015
 
Fortress Investment Group LLC, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 12/27/22
 
1,000
 
   
809
 
Grosvenor Capital Management Holdings, LLP, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 3/31/25
 
797
 
   
746
 
Guggenheim Partners, LLC, Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 7/21/23
 
740
 
   
836
 
LPL Holdings, Inc., First Lien Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 9/23/24
 
827
 
   
447
 
PI US MergerCo, Inc., First Lien Term Loan, (1 month USD LIBOR + 3.50%), 6.00%, due 12/20/24
 
435
 
   
541
 
Royalty Pharma AG, Term Loan B6, (1 month USD LIBOR + 2.00%), 4.50%, due 3/27/23
 
535
 
 
6,306
 
Food & Drug Retailers 0.3%
   
901
 
Albertsons LLC, Term Loan B5, (3 month USD LIBOR + 3.00%), 5.82%, due 12/21/22
 
888
 
 
Food Products 1.2%
   
884
 
CHG PPC Parent LLC, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 3/31/25
 
864
(c)
   
713
 
Del Monte Foods, First Lien Term Loan, (3 month USD LIBOR + 3.25%), 5.90%, due 2/18/21
 
584
 
   
840
 
Jacobs Douwe Egberts International B.V., Term Loan B, (3 month USD LIBOR + 2.00%), 4.56%, due 11/1/25
 
829
 
   
592
 
Nomad Foods Europe Midco Ltd., Term Loan B4, (1 month USD LIBOR + 2.25%), 4.76%, due 5/15/24
 
575
 
 
 
792
 
Post Holdings, Term Loan, (1 month USD LIBOR + 2.00%), 4.52%, due 5/24/24
 
781
 
 
3,633
 
Food Service 1.0%
   
1,047
 
Burger King Corporation, Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 2/16/24
 
1,029
 
   
805
 
US Foods, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 6/27/23
 
791
 
   
1,083
 
Welbilt, Inc., Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 10/23/25
 
1,057
(c)
 
2,877
 
Health Care 6.3%
   
955
 
Acadia Healthcare Company, Inc., Term Loan B4, (1 month USD LIBOR + 2.50%), 5.00%, due 2/16/23
 
939
 
   
910
 
Auris Luxembourg III S.a.r.l., Term Loan B, (USD LIBOR + 3.75%), due 7/20/25
 
904
(e)(f)
   
1,041
 
Concentra Inc., First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.27%, due 6/1/22
 
1,031
 
   
525
 
Concentra Operating Company, Second Lien Term Loan, (1 month USD LIBOR + 6.50%), 9.02%, due 6/1/23
 
522
 
   
476
 
Convatec Inc., Term Loan B, (3 month USD LIBOR + 2.25%), 5.05%, due 10/31/23
 
471
 
   
1,560
 
Envision Healthcare Corporation, 2018 First Lien Term Loan, (1 month USD LIBOR + 3.75%), 6.25%, due 10/10/25
 
1,467
 
   
903
 
Grifols SA, Term Loan, (1 week USD LIBOR + 2.25%), 4.66%, due 1/31/25
 
890
 
   
854
 
HCA Inc., Term Loan B10, (1 month USD LIBOR + 2.00%), 4.50%, due 3/13/25
 
850
 
   
697
 
IQVIA Inc., Term Loan B3, (1 month USD LIBOR + 1.75%), 4.25%, due 6/11/25
 
684
 
   
949
 
Mediware Information System, Term Loan B, (1 month USD LIBOR + 3.50%), 6.00%, due 2/9/24
 
933
 
   
1,106
 
Multiplan, Inc., Term Loan B, (3 month USD LIBOR + 2.75%), 5.55%, due 6/7/23
 
1,069
 
   
1,531
 
National Mentor, Inc., Term Loan B, (3 month USD LIBOR + 3.00%), 5.80%, due 1/31/21
 
1,527
 
   
1,177
 
Ortho-Clinical Diagnostics SA, Term Loan B, (1 month USD LIBOR + 3.25%), 5.76%, due 6/30/25
 
1,137
 
       
Pearl Intermediate Parent LLC
     
   
145
 
Term Loan, (USD LIBOR + 2.75%), 4.25%, due 2/14/25
 
139
(g)
   
644
 
First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.27%, due 2/14/25
 
615
 
   
233
 
Second Lien Term Loan, (1 month USD LIBOR + 6.25%), 8.77%, due 2/13/26
 
229
(c)
       
Sound Inpatient Physicians
     
   
826
 
First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 6/27/25
 
812
 
   
215
 
Second Lien Term Loan, (1 month USD LIBOR + 6.75%), 9.25%, due 6/26/26
 
212
 
   
333
 
Surgery Partners, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 9/2/24
 
324
 
   
989
 
Syneos Health, Inc., Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 8/1/24
 
971
 
   
2,082
 
Team Health, Inc., First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 2/6/24
 
1,869
(c)
   
723
 
Verscend Holding Corp., Term Loan B, (1 month USD LIBOR + 4.50%), 7.00%, due 8/27/25
 
716
 
 
18,311
 
Industrial Equipment 3.7%
 
 
1,000
 
AL Alpine AT Bidco GmbH, Term Loan B, (3 month USD LIBOR + 3.25%), 5.81%, due 10/31/25
 
960
(c)
       
Brookfield WEC Holdings Inc.
     
   
1,280
 
First Lien Term Loan, (1 month USD LIBOR + 3.75%), 6.25%, due 8/1/25
 
1,273
 
   
165
 
Second Lien Term Loan, (1 month USD LIBOR + 6.75%), 9.25%, due 8/3/26
 
164
 
   
673
 
Clark Equipment Company, Term Loan B, (3 month USD LIBOR + 2.00%), 4.80%, due 5/18/24
 
660
 
       
Crosby Worldwide
     
   
1,534
 
First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 11/23/20
 
1,419
 
   
440
 
Second Lien Term Loan, (1 month USD LIBOR + 6.00%), 8.50%, due 11/22/21
 
387
 
   
1,185
 
Filtration Group Corporation, First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 3/29/25
 
1,173
 
   
608
 
Gardner Denver, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 7/30/24
 
604
 
   
1,311
 
Gates Global LLC, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 4/1/24
 
1,282
 
   
443
 
Harsco Corporation, Term Loan B1, (1 month USD LIBOR + 2.25%), 4.75%, due 12/6/24
 
439
 
   
416
 
Hyster-Yale Group, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 5/30/23
 
412
 
   
1,065
 
Milacron LLC, Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 9/28/23
 
1,045
(c)
   
968
 
Pro Mach Group, Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.51%, due 3/7/25
 
936
 
 
10,754
 
Leisure Goods - Activities - Movies 3.1%
   
489
 
Amc Entertainment, Term Loan, (1 month USD LIBOR + 2.25%), 4.76%, due 12/15/22
 
480
 
   
749
 
CityCenter, Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 4/18/24
 
735
 
   
1,689
 
Crown Finance US, Inc., Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 2/28/25
 
1,647
 
   
1,610
 
Delta 2 (LUX) S.a.r.l., Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 2/1/24
 
1,546
 
   
785
 
Match Group Inc., Term Loan B, (2 month USD LIBOR + 2.50%), 5.09%, due 11/16/22
 
780
(c)
   
641
 
Nielsen Business Media, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 5/22/24
 
623
 
   
1,890
 
Seaworld, Term Loan B5, (1 month USD LIBOR + 3.00%), 5.50%, due 3/31/24
 
1,851
 
   
1,410
 
WMG Acquisition Corp., Term Loan F, (1 month USD LIBOR + 2.13%), 4.62%, due 11/1/23
 
1,382
 
 
9,044
 
Lodging & Casinos 5.7%
   
725
 
Boyd Gaming Corporation, Term Loan B3, (USD LIBOR + 2.25%), due 9/15/23
 
715
(e)(f)
   
692
 
Caesars Entertainment Operating Company, Term Loan, (1 month USD LIBOR + 2.00%), 4.50%, due 10/6/24
 
677
 
   
1,084
 
Caesars Resort Collection, LLC, First Lien Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 12/22/24
 
1,068
 
   
921
 
Eldorado Resorts, Term Loan B, (USD LIBOR + 2.25%), 4.81%, due 4/17/24
 
909
 
 
 
572
 
Four Seasons Holdings Inc., First Lien Term Loan, (1 month USD LIBOR + 2.00%), 4.50%, due 11/30/23
 
562
 
       
Golden Entertainment, Inc.
     
   
1,355
 
First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.51%, due 10/21/24
 
1,329
 
   
730
 
Second Lien Term Loan, (1 month USD LIBOR + 7.00%), 9.50%, due 10/20/25
 
712
 
   
387
 
GVC Holdings PLC, Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 3/29/24
 
382
 
   
1,024
 
MGM Growth Properties, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 3/21/25
 
1,007
 
   
1,831
 
Mohegan Tribal Gaming, Term Loan B, (1 month USD LIBOR + 4.00%), 6.50%, due 10/13/23
 
1,695
 
   
465
 
Penn National Gaming, Inc., First Lien Term Loan, (1 month USD LIBOR + 2.25%), 4.76%, due 10/15/25
 
459
 
   
430
 
RHP Hotel Properties, LP, Term Loan B, (3 month USD LIBOR + 2.00%), 4.78%, due 5/11/24
 
425
 
   
2,210
 
Scientific Games International, Inc., Term Loan B5, (1 month USD LIBOR + 2.75%), 5.25%, due 8/14/24
 
2,140
 
   
1,010
 
Stars Group Holdings B.V. (The), Term Loan, (3 month USD LIBOR + 3.50%), 6.30%, due 7/10/25
 
1,000
 
   
891
 
Station Casinos, Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 6/8/23
 
879
 
   
2,349
 
Twin Rivers Casino, Term Loan B, (3 month USD LIBOR + 3.50%), 6.30%, due 7/10/20
 
2,333
 
   
295
 
Wynn Resorts, Limited, Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 10/30/24
 
287
 
 
16,579
 
Oil & Gas 3.6%
   
681
 
Brazos Delaware II, LLC, Term Loan B, (1 month USD LIBOR + 4.00%), 6.50%, due 5/21/25
 
643
 
   
1,320
 
Caprock Midstream LLC, First Lien Term Loan, (2 month USD LIBOR + 4.75%), 7.37%, due 11/3/25
 
1,254
 
   
1,630
 
EagleClaw, Term Loan B, (2 month USD LIBOR + 4.25%), 6.87%, due 6/24/24
 
1,554
 
   
735
 
Gavilan Resources, Second Lien Term Loan, (1 month USD LIBOR + 6.00%), 8.52%, due 3/1/24
 
587
 
   
868
 
Grizzly Acquisitions Inc., Term Loan B, (3 month USD LIBOR + 3.25%), 6.05%, due 10/1/25
 
863
 
   
1,643
 
Lucid Energy Group II LLC, First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.52%, due 2/17/25
 
1,541
 
   
1,369
 
Medallion Midland Acquisition, LLC, First Lien Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 10/30/24
 
1,313
 
   
1,497
 
Rover, Term Loan B, (3 month USD LIBOR + 3.50%), 6.24%, due 10/31/24
 
1,480
 
   
1,297
 
Traverse Midstream Partners LLC, Term Loan, (6 month USD LIBOR + 4.00%), 6.60%, due 9/27/24
 
1,288
 
 
10,523
 
Property & Casualty Insurance 0.9%
       
Asurion LLC
     
   
1,978
 
Term Loan B7, (1 month USD LIBOR + 3.00%), 5.50%, due 11/3/24
 
1,945
 
   
705
 
Second Lien Term Loan, (1 month USD LIBOR + 6.50%), 9.00%, due 8/4/25
 
709
(e)(f)
 
2,654
 
Publishing 0.3%
   
846
 
Harland Clarke Holdings Corp., Term Loan B7, (3 month USD LIBOR + 4.75%), 7.55%, due 11/3/23
 
785
 
 
Radio & Television 1.9%
 
 
1,274
 
Cumulus Media New Holdings Inc., Exit Term Loan, (1 month USD LIBOR + 4.50%), 7.00%, due 5/15/22
 
1,227
 
   
224
 
Gray Television Inc., Term Loan B, (3 month USD LIBOR + 2.25%), 4.77%, due 2/7/24
 
220
 
   
3,256
 
iHeartCommunications, Inc., Term Loan D, (3 month USD LIBOR + 6.75%), due 1/30/20
 
2,191
(h)
   
2,012
 
Univision Communications Inc., Term Loan C5, (1 month USD LIBOR + 2.75%), 5.25%, due 3/15/24
 
1,870
 
 
5,508
 
Retailers (except food & drug) 2.9%
   
2,240
 
Bass Pro Shops, Term Loan B, (1 month USD LIBOR + 5.00%), 7.50%, due 9/25/24
 
2,212
 
   
1,872
 
BJS Wholesale Club Inc., First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.51%, due 2/3/24
 
1,854
 
       
EG Finco Limited
     
   
1,232
 
Term Loan, (3 month USD LIBOR + 4.00%), 6.81%, due 2/7/25
 
1,188
 
   
155
 
Second Lien Term Loan, (3 month USD LIBOR + 8.00%), 10.81%, due 4/20/26
 
150
 
   
635
 
EG Group Limited, Term Loan B, (3 month USD LIBOR + 4.00%), 6.81%, due 2/7/25
 
613
 
   
638
 
PetSmart, Inc., Term Loan B2, (1 month USD LIBOR + 3.00%), 5.52%, due 3/11/22
 
533
 
   
341
 
Shutterfly, Inc., Term Loan B2, (1 month USD LIBOR + 2.75%), 5.25%, due 8/17/24
 
332
 
   
1,494
 
Staples, Term Loan B, (3 month USD LIBOR + 4.00%), 6.54%, due 9/12/24
 
1,466
 
 
8,348
 
Steel 1.2%
   
1,306
 
Big River Steel LLC, Term Loan B, (3 month USD LIBOR + 5.00%), 7.80%, due 8/23/23
 
1,302
 
   
1,072
 
MRC Global (US) Inc., First Lien Term Loan B, (1 month USD LIBOR + 3.00%), 5.50%, due 9/20/24
 
1,061
(c)
   
1,283
 
TMS International Corp., Term Loan B2, (USD LIBOR + 2.75%), 5.40%, due 8/14/24
 
1,241
(g)
 
3,604
 
Surface Transport 0.4%
   
1,080
 
Hertz Corporation, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 6/30/23
 
1,050
 
 
Telecommunications 6.4%
   
2,648
 
Centurylink, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 1/31/25
 
2,528
 
   
285
 
Communications Sales and Leasing Inc., Term Loan B, (USD LIBOR + 3.00%), due 10/24/22
 
267
(e)(f)
   
727
 
Consolidated Communications Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.50%, due 10/4/23
 
700
 
       
Frontier Communications Corp.
     
   
343
 
Term Loan A, (1 month USD LIBOR + 2.75%), 5.25%, due 3/31/21
 
332
 
   
1,070
 
Term Loan B1, (1 month USD LIBOR + 3.75%), 6.25%, due 6/15/24
 
1,021
 
   
2,323
 
GTT Communications, Inc., Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 5/31/25
 
2,177
 
       
Intelsat Jackson HLDG
     
 
 
1,345
 
Term Loan B3, (1 month USD LIBOR + 3.75%), 6.25%, due 11/27/23
 
1,332
 
   
951
 
Term Loan B5, 6.63%, due 1/2/24
 
950
(i)
   
145
 
Term Loan B4, (1 month USD LIBOR + 4.50%), 7.00%, due 1/2/24
 
147
 
   
1,040
 
Level 3 Financing, Inc., Term Loan B, (1 month USD LIBOR + 2.25%), 4.76%, due 2/22/24
 
1,020
 
   
676
 
MTN Infrastructure TopCo Inc., First Lien Term Loan B, (1 month USD LIBOR + 3.00%), 5.50%, due 11/15/24
 
665
 
   
177
 
SBA Senior Finance II LLC, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 4/11/25
 
173
 
       
Sprint Communications, Inc.
     
   
1,135
 
Term Loan B, (USD LIBOR + 3.00%), due 2/2/24
 
1,117
(e)(f)
   
1,481
 
First Lien Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 2/2/24
 
1,446
 
       
Syniverse Holdings, Inc.
     
   
2,069
 
First Lien Term Loan, (1 month USD LIBOR + 5.00%), 7.51%, due 3/9/23
 
1,874
 
   
265
 
Second Lien Term Loan, (1 month USD LIBOR + 9.00%), 11.51%, due 3/11/24
 
225
 
   
1,432
 
Telesat, Term Loan B4, (3 month USD LIBOR + 2.50%), 5.31%, due 11/17/23
 
1,403
 
   
305
 
Windstream Services, LLC, Term Loan B7, (1 month USD LIBOR + 3.25%), 5.76%, due 2/17/24
 
263
 
   
819
 
Zayo Group, Term Loan, (1 month USD LIBOR + 2.25%), 4.75%, due 1/19/24
 
811
 
 
18,451
 
Utilities 3.9%
   
746
 
Calpine Construction Finance Company, L.P., Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 1/15/25
 
729
 
       
Calpine Corp.
     
   
424
 
Term Loan B6, (3 month USD LIBOR + 2.50%), 5.31%, due 1/15/23
 
417
 
   
668
 
Term Loan B5, (3 month USD LIBOR + 2.50%), 5.31%, due 1/15/24
 
655
 
   
1,216
 
Compass Power Generation LLC, Term Loan B, (1 month USD LIBOR + 3.50%), 6.00%, due 12/20/24
 
1,211
 
   
665
 
Edgewater Generation, L.L.C., Term Loan, (1 month USD LIBOR + 3.75%), 6.25%, due 12/13/25
 
658
 
   
628
 
Kestrel Acquisition, LLC, Term Loan B, (1 month USD LIBOR + 4.25%), 6.75%, due 6/2/25
 
622
 
   
1,444
 
Nautilus Power LLC, Term Loan B, (1 month USD LIBOR + 4.25%), 6.75%, due 5/16/24
 
1,432
 
   
446
 
PG&E Corp., Term Loan, (USD LIBOR + 2.25%), due 12/31/20
 
445
(e)(f)
   
960
 
RJS Power Holdings LLC, Term Loan B1, (1 month USD LIBOR + 4.00%), 6.50%, due 7/15/23
 
946
 
       
Texas Competitive
     
   
1,107
 
Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 8/4/23
 
1,088
 
   
1,487
 
Term Loan B2, (1 month USD LIBOR + 4.00%), 6.50%, due 4/15/24
 
1,467
 
   
1,699
 
TPF II, Term Loan B, (1 month USD LIBOR + 3.75%), 6.25%, due 10/2/23
 
1,656
 
 
11,326
 
 
 
Total Loan Assignments (Cost $261,340)
 
253,848
 
 
Corporate Bonds 1.3%
 
Business Equipment & Services 0.1%
   
289
 
Brock Holdings Notes 2022, 15.00%, due 10/24/22
 
289
(a)(b)
 
Cable & Satellite Television 0.2%
   
535
 
Altice Financing SA, 6.63%, due 2/15/23
 
538
(j)(k)
 
Energy - Exploration & Production 0.2%
 
 
860
 
EP Energy LLC/Everest Acquisition Finance, Inc., 8.00%, due 2/15/25
 
425
(j)(k)
 
Media Content 0.2%
   
720
 
Univision Communications, Inc., 5.13%, due 2/15/25
 
656
(j)(k)
 
Medical Products 0.2%
   
565
 
Ortho-Clinical Diagnostics, Inc./Ortho-Clinical Diagnostics SA, 6.63%, due 5/15/22
 
545
(j)(k)
 
Oil Field Equipment & Services 0.1%
   
340
 
Precision Drilling Corp., 7.75%, due 12/15/23
 
325
(k)
 
Printing & Publishing 0.1%
   
365
 
Harland Clarke Holdings Corp., 8.38%, due 8/15/22
 
342
(j)(k)
 
Support - Services 0.1%
   
300
 
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, due 5/15/23
 
317
(j)
 
Telecom - Wireless 0.1%
   
320
 
Wind Tre SpA, 5.00%, due 1/20/26
 
263
(j)(k)
 
 
Total Corporate Bonds (Cost $4,231)
 
3,700
 
 
Asset-Backed Securities 3.8%
   
390
 
Apidos CLO, Ser. 2015-22A, Class D, (3 month USD LIBOR + 6.00%), 8.76%, due 10/20/27
 
376
(d)(j)(k)
   
500
 
Ares XLIII CLO Ltd., Ser. 2017-43A, Class E, (3 month USD LIBOR + 6.47%), 9.26%, due 10/15/29
 
484
(d)(j)(k)
   
400
 
BlueMountain CLO Ltd., Ser. 2018-2A, Class E, (3 month USD LIBOR + 6.05%), 8.31%, due 8/15/31
 
377
(d)(j)
   
250
 
Dryden 45 Senior Loan Fund, Ser. 2016-45A, Class ER, (3 month USD LIBOR + 5.85%), 8.64%, due 10/15/30
 
235
(d)(j)
   
400
 
Eaton Vance CLO Ltd., Ser. 2018-1A, Class E, (3 month USD LIBOR + 6.00%), 8.45%, due 10/15/30
 
376
(d)(j)(k)
   
500
 
Galaxy XXV CLO Ltd., Ser. 2018-25A, Class E, (3 month USD LIBOR + 5.95%), 8.29%, due 10/25/31
 
467
(d)(j)(k)
   
350
 
Galaxy XXVI CLO Ltd., Ser. 2018-26A, Class E, (3 month USD LIBOR + 5.85%), 8.50%, due 11/22/31
 
322
(d)(j)
   
250
 
KKR CLO 23 Ltd., Ser. 2023, Class E, (3 month USD LIBOR + 6.00%), 8.49%, due 10/20/31
 
237
(d)(j)
   
400
 
Madison Park Funding XIV Ltd., Ser. 2014-14A, Class ER, (3 month USD LIBOR + 5.80%), 8.56%, due 10/22/30
 
377
(d)(j)
       
Magnetite CLO Ltd.
     
   
500
 
Ser. 2014-8A, Class ER2, (3 month USD LIBOR + 5.65%), 8.44%, due 4/15/31
 
476
(d)(j)(k)
   
385
 
Ser. 2015-15A, Class ER, (3 month USD LIBOR + 5.20%), 7.97%, due 7/25/31
 
344
(d)(j)
   
700
 
Ser. 2015-12A, Class ER, (3 month USD LIBOR + 5.68%), 8.47%, due 10/15/31
 
649
(d)(j)(k)
   
800
 
OCP CLO Ltd., Ser. 2018-15A, Class D, (3 month USD LIBOR + 5.85%), 8.32%, due 7/20/31
 
751
(d)(j)(k)
   
400
 
Octagon Investment Partners 39 Ltd., Ser. 2018-3A, Class E, (3 month USD LIBOR + 5.75%), 8.21%, due 10/20/30
 
377
(d)(j)
   
1,000
 
Palmer Square CLO Ltd., Ser. 2015-1A, Class DR, (3 month USD LIBOR + 6.20%), 8.85%, due 5/21/29
 
960
(d)(j)(k)
   
600
 
Parallel Ltd., Ser. 2018-1A, Class C, (3 month USD LIBOR + 2.80%), 5.56%, due 4/20/31
 
560
(d)(j)(k)
   
550
 
Post CLO Ltd., Ser. 2018-1A, Class E, (3 month USD LIBOR + 5.87%), 8.65%, due 4/16/31
 
514
(d)(j)(k)
 
 
335
 
Riserva CLO Ltd., Ser. 2016-3A, Class E, (3 month USD LIBOR + 6.75%), 9.53%, due 10/18/28
 
331
(d)(j)
   
685
 
TCI-Flatiron CLO Ltd., Ser. 2016-1A, Class E, (3 month USD LIBOR + 7.25%), 10.02%, due 7/17/28
 
691
(d)(j)(k)
   
900
 
TRESTLES CLO II Ltd., Ser. 2018-2A, Class D, (3 month USD LIBOR + 5.75%), 8.08%, due 7/25/31
 
841
(d)(j)(k)
   
1,000
 
TRESTLES CLO Ltd., Ser. 2017-1A, Class D, (3 month USD LIBOR + 6.68%), 9.45%, due 7/25/29
 
949
(d)(j)(k)
   
250
 
Voya CLO Ltd., Ser. 2016-3A, Class DR, (3 month USD LIBOR + 6.08%), 8.86%, due 10/18/31
 
236
(d)(j)
 
 
Total Asset-Backed Securities (Cost $11,371)
 
10,930
 
 
NUMBER OF
SHARES
          
 
Short-Term Investments 3.5%
 
Investment Companies 3.5%
   
10,250,187
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(l) (Cost  $10,250)
 
10,250
(k)
       
 
Total Investments 96.4% (Cost $287,784)
279,362
 
       
 
Other Assets Less Liabilities 3.6%
10,304
(m)
       
 
Net Assets 100.0%
$289,666
 
 
*
 
Non-income producing security.
(a)
 
Illiquid security.
(b)
 
Security fair valued as of January 31, 2019 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2019 amounted to approximately $725,000, which represents 0.3% of net assets of the Fund.
(c)
 
Value determined using significant unobservable inputs.
(d)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(e)
 
All or a portion of this security was purchased on a delayed delivery basis.
(f)
 
All or a portion of this security has not settled as of January 31, 2019 and thus may not have an interest rate in effect. Interest rates do not take effect until settlement.
(g)
 
The stated interest rate represents the weighted average interest rate at January 31, 2019 of the underlying contracts within the Loan Assignment. Interest rates on the underlying contracts are primarily determined by reference to the indicated base lending rate and spread, which are indicated in the security description, and the reset period, which is generally weekly, monthly or quarterly.
(h)
 
Defaulted Security.
(i)
 
Fixed coupon.
(j)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $14,016,000, which represents 4.8% of net assets of the Fund. Securities denoted with (j) but without (a) have been deemed by the investment manager to be liquid.
(k)
 
All or a portion of this security is segregated in connection with obligations for delayed delivery securities with a total value of approximately $21,438,000.
(l)
 
Represents 7-day effective yield as of January 31, 2019.
(m)
 
As of January 31, 2019, the value of unfunded loan commitments was approximately $191,000 of the Fund (see Notes to Schedule of Investments).
 
 
See Notes to Schedule of Investments

Schedule of Investments Floating Rate Income Fund^
(Unaudited) (cont’d)
 
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3(b)
   
Total
 
Investments:
       
Common Stocks
                       
Business Equipment & Services
 
$
   
$
   
$
436
   
$
436
 
Other Common Stocks(a)
   
198
     
     
     
198
 
Total Common Stocks
   
198
     
     
436
     
634
 
Loan Assignments
                               
Aerospace & Defense
   
     
3,182
     
754
     
3,936
 
Automotive
   
     
4,122
     
1,048
     
5,170
 
Building & Development
   
     
11,265
     
279
     
11,544
 
Business Equipment & Services
   
     
26,585
     
1,072
     
27,657
 
Chemicals & Plastics
   
     
9,650
     
148
     
9,798
 
Electronics - Electrical
   
     
23,047
     
1,075
     
24,122
 
Food Products
   
     
2,769
     
864
     
3,633
 
Health Care
   
     
16,213
     
2,098
     
18,311
 
Industrial Equipment
   
     
8,749
     
2,005
     
10,754
 
Steel
   
     
2,543
     
1,061
     
3,604
 
Other Loan Assignments(a)
   
     
135,319
     
     
135,319
 
Total Loan Assignments
   
     
243,444
     
10,404
     
253,848
 
Corporate Bonds(a)
   
     
3,700
     
     
3,700
 
Asset-Backed Securities
   
     
10,930
     
     
10,930
 
Short-Term Investments
   
     
10,250
     
     
10,250
 
Total Investments
 
$
198
   
$
268,324
   
$
10,840
   
$
279,362
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.

(b)
The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

(000's omitted)
Beginning
balance, as of
11/01/2018
 
Accrued
discounts/
(premiums)
Realized
gain/
(loss)
 
Change in
unrealized
appreciation/
(depreciation)
Purchases
Sales
Transfers
into
Level 3
Transfers
out of
Level 3
Balance,
as of
1/31/2019
Net change in unrealized appreciation/
(depreciation) from
investments
still held as of 1/31/2019
Investments in securities:
                   
Common Stocks(c)
                   
Business Equipment & Services
$436
$
$
$
$
$
$
$
$436
$
Loan Assignments(d)
                   
Aerospace & Defense
4
750
754
4
Automotive
(16)
(3)
1,067
1,048
(16)
Building & Development
1,762
(3)
(5)
(377)
(1,098)
279
(5)
Business Equipment & Services
1,026
(2)
(3)
718
(264)
623
(1,026)
1,072
(3)
Chemicals & Plastics
149
(1)
148
(1)
Electronics - Electrical
802
(16)
289
1,075
(16)
Financial Intermediaries
560
(25)
2
(537)
Food Products
882
(16)
(2)
864
(16)
Food Service
1,137
(1,137)
Health Care
233
(100)
(5)
1,970
2,098
(100)
Industrial Equipment
1,000
(9)
(60)
(1,131)
2,205
2,005
(60)
Leisure Goods - Activities - Movies
789
(789)
Lodging & Casinos
2,074
(4)
(108)
(1,962)
Oil & Gas Retailers
1,310
(1,310)
Retailers (except food & drug)
241
(12)
2
(231)
Steel
2,389
(11)
(3)
(1,314)
1,061
(11)
Utilities
652
(34)
(6)
(612)
Corporate Bonds(c)
                   
Business Equipment & Services
288
(288)
Total
$15,730
$
$(89)
$(334)
$1,757
$(5,127)
$5,865
$(6,962)
$10,840
$(224)


(c)  As of the period ended January 31, 2019, these investments were valued in accordance with procedures approved by the Board of Trustees. These investments did not have a material impact on the Fund’s net assets and, therefore, disclosure of unobservable inputs used in formulating valuations is not presented.

(d) Securities categorized as Level 3 were valued based on a single quotation obtained from a dealer. The Fund does not have access to unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.

^ A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.

 
 
See Notes to Schedule of Investments

Schedule of Investments High Income Bond Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
 
VALUE
(000's omitted)
 
(000's omitted)
 
Loan Assignments(a) 6.6%
 
Building & Development 0.1%
   
2,095
 
Realogy Corporation, Term Loan B, (1 month USD LIBOR + 2.25%), 4.76%, due 2/8/25
$
2,037
 
 
Business Equipment & Services 0.6%
   
5,997
 
First Data Corporation, Term Loan, (1 month USD LIBOR + 2.00%), 4.52%, due 7/8/22
 
5,971
 
   
1,146
 
Iron Mountain, Inc., Term Loan B, (1 month USD LIBOR + 1.75%), 4.25%, due 1/2/26
 
1,109
 
   
4,441
 
Presidio, Term Loan B, (USD LIBOR + 2.75%), 5.54%, due 2/2/24
 
4,384
(b)
   
1,934
 
Servicemaster Company, Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 11/8/23
 
1,922
 
 
13,386
 
Cable & Satellite Television 0.5%
   
7,958
 
Altice France S.A., Term Loan B13, (1 month USD LIBOR + 4.00%), 6.51%, due 8/14/26
 
7,495
 
   
3,515
 
Altice US Finance I Corporation, LLC, Term Loan, (1 month USD LIBOR + 2.25%), 4.76%, due 1/15/26
 
3,383
 
 
10,878
 
Chemicals & Plastics 0.3%
   
2,530
 
PQ Corporation, Term Loan B, (3 month USD LIBOR + 2.50%), 5.24%, due 2/8/25
 
2,460
 
   
4,261
 
Starfruit Finco B.V., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 10/1/25
 
4,163
 
 
6,623
 
Containers & Glass Products 0.5%
   
4,930
 
Berlin Packaging LLC, First Lien Term Loan, (USD LIBOR + 3.00%), 5.55%, due 11/7/25
 
4,733
(b)
   
3,127
 
BWAY Corporation, Term Loan B, (3 month USD LIBOR + 3.25%), 6.03%, due 4/3/24
 
3,012
 
   
3,843
 
Reynolds Group, Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 2/5/23
 
3,785
 
 
11,530
 
Diversified Insurance 0.2%
   
3,880
 
Sedgwick Claims Management Services, Inc., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 12/31/25
 
3,777
 
 
Drugs 0.4%
   
3,720
 
Bausch Health Companies Inc., Term Loan B, (1 month USD LIBOR + 2.75%), 5.26%, due 11/27/25
 
3,665
 
   
3,420
 
Mallinckrodt International, Term Loan B, (3 month USD LIBOR + 2.75%), 5.55%, due 9/24/24
 
3,175
 
   
755
 
Mallinckrodt International Finance S.A., Term Loan B, (3 month USD LIBOR + 3.00%), 5.62%, due 2/24/25
 
708
 
   
1,807
 
Valeant Pharmaceuticals International, Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.51%, due 6/2/25
 
1,787
 
 
9,335
 
Ecological Services & Equipment 0.1%
   
2,050
 
ADS Waste Holdings, Inc., Term Loan B3, (1 week USD LIBOR + 2.25%), 4.66%, due 11/10/23
 
2,025
 
 
Electronics - Electrical 0.9%
   
9,775
 
Dell, Term Loan B, (1 month USD LIBOR + 2.00%), 4.50%, due 9/7/23
 
9,632
 
   
2,197
 
SS&C Technologies Holdings Europe S.A.R.L., Term Loan B4, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
2,151
 
       
SS&C Technologies Inc.
     
 
 
5,711
 
Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
5,591
 
   
1,297
 
Term Loan B5, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
1,271
 
 
18,645
 
Food Service 0.2%
   
4,823
 
Burger King Corporation, Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 2/16/24
 
4,739
 
 
Health Care 0.5%
   
4,195
 
Multiplan, Inc., Term Loan B, (3 month USD LIBOR + 2.75%), 5.55%, due 6/7/23
 
4,055
 
   
7,952
 
Team Health, Inc., First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 2/6/24
 
7,136
(c)
 
11,191
 
Leisure Goods - Activities - Movies 0.5%
   
4,189
 
Crown Finance US, Inc., Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 2/28/25
 
4,083
 
   
7,683
 
Seaworld, Term Loan B5, (1 month USD LIBOR + 3.00%), 5.50%, due 3/31/24
 
7,525
 
 
11,608
 
Lodging & Casinos 0.5%
   
5,239
 
Boyd Gaming Corporation, Term Loan B3, (1 week USD LIBOR + 2.25%), 4.66%, due 9/15/23
 
5,164
(d)(e)
   
4,739
 
Mohegan Tribal Gaming, Term Loan B, (1 month USD LIBOR + 4.00%), 6.50%, due 10/13/23
 
4,388
 
 
9,552
 
Publishing 0.2%
   
3,825
 
R.R. Donnelley & Sons Company, Term Loan B, (1 month USD LIBOR + 5.00%), 7.51%, due 1/15/24
 
3,777
 
 
Radio & Television 0.1%
   
3,206
 
Univision Communications Inc., Term Loan C5, (1 month USD LIBOR + 2.75%), 5.25%, due 3/15/24
 
2,980
 
 
Retailers (except food & drug) 0.2%
   
3,029
 
Bass Pro Shops, Term Loan B, (1 month USD LIBOR + 5.00%), 7.50%, due 9/25/24
 
2,991
 
   
1,997
 
CDW LLC, Term Loan B, (1 month USD LIBOR + 1.75%), 4.25%, due 8/17/23
 
1,986
 
 
4,977
 
Telecommunications 0.5%
   
5,544
 
Centurylink, Term Loan B, (1 month USD Fixed + 2.75%), 5.25%, due 1/31/25
 
5,293
 
   
4,445
 
Intelsat Jackson HLDG, Term Loan B3, (1 month USD LIBOR + 3.75%), 6.25%, due 11/27/23
 
4,401
 
 
9,694
 
Utilities 0.3%
   
4,505
 
Calpine Corp., Term Loan B6, (3 month USD LIBOR + 2.50%), 5.31%, due 1/15/23
 
4,427
 
 
 
2,117
 
Texas Competitive, Term Loan B2, (1 month USD LIBOR + 2.25%), 4.75%, due 12/14/23
 
2,094
 
 
6,521
 
 
 
Total Loan Assignments (Cost $146,498)
 
143,275
 
 
Corporate Bonds 90.5%
 
Advertising 2.1%
   
1,340
 
Clear Channel Worldwide Holdings, Inc., Ser. A, 6.50%, due 11/15/22
 
1,370
 
       
Lamar Media Corp.
     
   
2,375
 
5.00%, due 5/1/23
 
2,393
 
   
1,685
 
5.75%, due 2/1/26
 
1,745
 
   
2,165
 
MDC Partners, Inc., 6.50%, due 5/1/24
 
1,971
(f)
       
Nielsen Co. Luxembourg SARL
     
   
3,975
 
5.50%, due 10/1/21
 
4,006
(f)
   
5,665
 
5.00%, due 2/1/25
 
5,622
(f)
       
Nielsen Finance LLC/Nielsen Finance Co.
     
   
6,755
 
4.50%, due 10/1/20
 
6,738
 
   
10,800
 
5.00%, due 4/15/22
 
10,784
(f)
       
Outfront Media Capital LLC/Outfront Media Capital Corp.
     
   
2,035
 
5.25%, due 2/15/22
 
2,055
 
   
3,250
 
5.63%, due 2/15/24
 
3,287
 
   
5,860
 
5.88%, due 3/15/25
 
5,919
 
 
45,890
 
Aerospace & Defense 0.7%
   
3,715
 
BBA US Holdings, Inc., 5.38%, due 5/1/26
 
3,715
(f)
   
12,070
 
TransDigm, Inc., 6.25%, due 3/15/26
 
12,251
(f)(g)
 
15,966
 
Auto Parts & Equipment 0.5%
   
3,045
 
Goodyear Tire & Rubber Co., 5.13%, due 11/15/23
 
3,037
 
   
4,215
 
IHO Verwaltungs GmbH, 4.50% Cash/5.25% PIK, due 9/15/23
 
4,015
(f)(h)
   
4,352
 
ZF N.A. Capital, Inc., 4.00%, due 4/29/20
 
4,338
(f)
 
11,390
 
Banking 2.5%
       
Ally Financial, Inc.
     
   
23,840
 
8.00%, due 3/15/20
 
24,943
 
   
10,800
 
4.25%, due 4/15/21
 
10,867
 
       
CIT Group, Inc.
     
   
6,225
 
4.13%, due 3/9/21
 
6,240
 
   
8,240
 
5.00%, due 8/15/22
 
8,446
 
   
4,585
 
4.75%, due 2/16/24
 
4,637
 
 
55,133
 
Brokerage 0.6%
   
12,715
 
LPL Holdings, Inc., 5.75%, due 9/15/25
 
12,503
(f)
 
Building & Construction 2.4%
       
Lennar Corp.
     
   
1,970
 
8.38%, due 1/15/21
 
2,123
 
   
4,965
 
5.38%, due 10/1/22
 
5,089
 
   
6,290
 
4.75%, due 11/15/22
 
6,314
 
   
6,965
 
4.88%, due 12/15/23
 
6,965
 
   
3,585
 
5.25%, due 6/1/26
 
3,495
 
   
6,835
 
PulteGroup, Inc., 4.25%, due 3/1/21
 
6,929
 
       
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc.
     
   
3,530
 
5.25%, due 4/15/21
 
3,534
(f)
   
4,458
 
5.63%, due 3/1/24
 
4,335
(f)
       
Toll Brothers Finance Corp.
     
 
 
3,730
 
4.38%, due 4/15/23
 
3,655
 
   
1,605
 
5.63%, due 1/15/24
 
1,645
 
   
3,535
 
4.88%, due 3/15/27
 
3,403
 
   
4,715
 
4.35%, due 2/15/28
 
4,291
 
   
1,870
 
TRI Pointe Group, Inc., 5.25%, due 6/1/27
 
1,618
 
 
53,396
 
Building Materials 0.4%
   
4,690
 
HD Supply, Inc., 5.38%, due 10/15/26
 
4,713
(f)
   
865
 
Jeld-Wen, Inc., 4.88%, due 12/15/27
 
766
(f)
   
2,350
 
USG Corp., 5.50%, due 3/1/25
 
2,391
(f)
 
7,870
 
Cable & Satellite Television 7.6%
   
3,100
 
Altice Financing SA, 6.63%, due 2/15/23
 
3,116
(f)
   
4,075
 
Altice France SA, 8.13%, due 2/1/27
 
4,014
(f)
       
Altice Luxembourg SA
     
   
12,440
 
7.75%, due 5/15/22
 
12,067
(f)
   
7,080
 
7.63%, due 2/15/25
 
6,018
(f)
       
CCO Holdings LLC/CCO Holdings Capital Corp.
     
   
7,485
 
5.25%, due 9/30/22
 
7,567
 
   
12,550
 
5.13%, due 5/1/23
 
12,718
(f)
   
3,205
 
5.88%, due 4/1/24
 
3,286
(f)
   
11,955
 
5.75%, due 2/15/26
 
12,164
(f)
   
10,835
 
5.00%, due 2/1/28
 
10,293
(f)
       
CSC Holdings LLC
     
   
8,142
 
5.13%, due 12/15/21
 
8,155
(f)
   
3,250
 
5.38%, due 7/15/23
 
3,282
(f)
   
7,395
 
7.75%, due 7/15/25
 
7,746
(f)
   
2,980
 
6.63%, due 10/15/25
 
3,118
(f)
   
9,373
 
10.88%, due 10/15/25
 
10,802
(f)
   
6,345
 
5.50%, due 5/15/26
 
6,282
(f)
   
3,875
 
5.50%, due 4/15/27
 
3,788
(f)
   
2,965
 
7.50%, due 4/1/28
 
3,047
(f)
       
DISH DBS Corp.
     
   
2,245
 
6.75%, due 6/1/21
 
2,287
 
   
9,430
 
5.88%, due 11/15/24
 
7,815
 
       
Numericable-SFR SA
     
   
6,815
 
6.25%, due 5/15/24
 
6,681
(f)
   
10,965
 
7.38%, due 5/1/26
 
10,581
(f)
   
4,910
 
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 5.00%, due 1/15/25
 
4,990
(f)
   
3,465
 
UPCB Finance IV Ltd., 5.38%, due 1/15/25
 
3,335
(f)
   
2,490
 
Virgin Media Finance PLC, 6.00%, due 10/15/24
 
2,522
(f)
   
8,550
 
Virgin Media Secured Finance PLC, 5.50%, due 8/15/26
 
8,400
(f)
   
2,235
 
Ziggo B.V., 5.50%, due 1/15/27
 
2,111
(f)
 
166,185
 
Chemicals 2.2%
   
3,320
 
CF Industries, Inc., 5.38%, due 3/15/44
 
2,885
 
       
Huntsman Int'l LLC
     
   
6,050
 
4.88%, due 11/15/20
 
6,156
 
   
3,010
 
5.13%, due 11/15/22
 
3,116
 
   
3,300
 
INEOS Group Holdings SA, 5.63%, due 8/1/24
 
3,166
(f)
       
NOVA Chemicals Corp.
     
 
$
5,175
 
5.25%, due 8/1/23
 
5,032
(f)
   
8,600
 
4.88%, due 6/1/24
 
8,170
(f)
   
6,135
 
5.00%, due 5/1/25
 
5,644
(f)
   
4,435
 
5.25%, due 6/1/27
 
4,047
(f)
   
1,680
 
Platform Specialty Products Corp., 5.88%, due 12/1/25
 
1,676
(f)
   
2,465
 
PQ Corp., 6.75%, due 11/15/22
 
2,577
(f)
   
5,495
 
WR Grace & Co-Conn, 5.13%, due 10/1/21
 
5,646
(f)
 
48,115
 
Consumer - Commercial Lease Financing 4.6%
   
3,780
 
Avolon Holdings Funding Ltd., 5.13%, due 10/1/23
 
3,838
(f)
       
Navient Corp.
     
   
9,535
 
4.88%, due 6/17/19
 
9,547
 
   
7,575
 
8.00%, due 3/25/20
 
7,888
 
   
3,670
 
5.88%, due 3/25/21
 
3,742
 
   
2,515
 
6.63%, due 7/26/21
 
2,584
 
   
3,737
 
5.88%, due 10/25/24
 
3,494
 
   
4,065
 
6.75%, due 6/15/26
 
3,831
 
       
Park Aerospace Holdings Ltd.
     
   
18,975
 
5.25%, due 8/15/22
 
19,265
(f)
   
9,975
 
5.50%, due 2/15/24
 
10,137
(f)
   
3,980
 
SLM Corp., 6.13%, due 3/25/24
 
3,811
 
       
Springleaf Finance Corp.
     
   
4,135
 
8.25%, due 12/15/20
 
4,414
 
   
4,725
 
7.75%, due 10/1/21
 
4,973
 
   
9,165
 
6.13%, due 5/15/22
 
9,421
 
   
8,227
 
6.88%, due 3/15/25
 
7,877
 
   
5,595
 
7.13%, due 3/15/26
 
5,329
 
 
100,151
 
Diversified Capital Goods 0.3%
       
CFX Escrow Corp.
     
   
2,665
 
6.00%, due 2/15/24
 
2,665
(f)(g)
   
2,160
 
6.38%, due 2/15/26
 
2,160
(f)(g)
       
SPX FLOW, Inc.
     
   
1,120
 
5.63%, due 8/15/24
 
1,098
(f)
   
1,675
 
5.88%, due 8/15/26
 
1,650
(f)
 
7,573
 
Electric - Generation 3.8%
       
Calpine Corp.
     
   
10,080
 
6.00%, due 1/15/22
 
10,156
(f)
   
6,530
 
5.38%, due 1/15/23
 
6,350
 
   
2,520
 
5.75%, due 1/15/25
 
2,375
 
       
Dynegy, Inc.
     
   
2,585
 
7.38%, due 11/1/22
 
2,688
 
   
6,310
 
5.88%, due 6/1/23
 
6,452
 
   
14,135
 
7.63%, due 11/1/24
 
15,018
 
       
NRG Energy, Inc.
     
   
12,740
 
7.25%, due 5/15/26
 
13,766
 
   
14,100
 
6.63%, due 1/15/27
 
14,843
 
       
Vistra Operations Co. LLC
     
   
4,275
 
5.50%, due 9/1/26
 
4,334
(f)
   
7,235
 
5.63%, due 2/15/27
 
7,294
(f)(g)
 
83,276
 
Electric - Integrated 0.9%
       
Talen Energy Supply LLC
     
 
 
11,520
 
9.50%, due 7/15/22
 
11,750
(f)
   
8,790
 
10.50%, due 1/15/26
 
8,131
(f)
 
19,881
 
Electronics 0.9%
   
5,603
 
Amkor Technology, Inc., 6.38%, due 10/1/22
 
5,659
 
   
2,040
 
Micron Technology, Inc., 5.50%, due 2/1/25
 
2,069
 
   
5,820
 
NXP BV/NXP Funding LLC, 4.13%, due 6/1/21
 
5,841
(f)
   
5,595
 
Sensata Technologies UK Financing Co. PLC, 6.25%, due 2/15/26
 
5,833
(f)
 
19,402
 
Energy - Exploration & Production 5.4%
       
Antero Resources Corp.
     
   
9,080
 
5.38%, due 11/1/21
 
9,126
 
   
8,280
 
5.13%, due 12/1/22
 
8,270
 
       
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
     
   
3,885
 
10.00%, due 4/1/22
 
4,152
(f)
   
10,040
 
7.00%, due 11/1/26
 
9,689
(f)
       
Chesapeake Energy Corp.
     
   
3,560
 
6.13%, due 2/15/21
 
3,551
 
   
8,170
 
8.00%, due 1/15/25
 
8,212
 
   
2,425
 
8.00%, due 6/15/27
 
2,324
 
       
EP Energy LLC/Everest Acquisition Finance, Inc.
     
   
1,844
 
7.75%, due 9/1/22
 
830
 
   
13,635
 
6.38%, due 6/15/23
 
5,318
 
   
10,225
 
9.38%, due 5/1/24
 
5,445
(f)
       
Oasis Petroleum, Inc.
     
   
4,874
 
6.88%, due 3/15/22
 
4,862
 
   
4,355
 
6.25%, due 5/1/26
 
4,121
(f)
       
Parsley Energy LLC/Parsley Finance Corp.
     
   
1,140
 
5.38%, due 1/15/25
 
1,131
(f)
   
765
 
5.63%, due 10/15/27
 
758
(f)
   
3,710
 
PDC Energy, Inc., 5.75%, due 5/15/26
 
3,478
 
       
Range Resources Corp.
     
   
5,605
 
5.00%, due 8/15/22
 
5,444
 
   
5,000
 
5.00%, due 3/15/23
 
4,750
 
   
11,840
 
Sanchez Energy Corp., 6.13%, due 1/15/23
 
2,072
 
       
SM Energy Co.
     
   
3,301
 
6.13%, due 11/15/22
 
3,309
 
   
5,735
 
5.00%, due 1/15/24
 
5,420
 
   
2,635
 
6.63%, due 1/15/27
 
2,582
 
       
Whiting Petroleum Corp.
     
   
5,580
 
5.75%, due 3/15/21
 
5,580
 
   
5,735
 
6.25%, due 4/1/23
 
5,663
 
   
5,345
 
6.63%, due 1/15/26
 
5,238
 
       
WPX Energy, Inc.
     
   
792
 
6.00%, due 1/15/22
 
804
 
   
4,360
 
5.25%, due 9/15/24
 
4,306
 
   
2,135
 
5.75%, due 6/1/26
 
2,124
 
 
118,559
 
Food & Drug Retail 0.1%
   
2,625
 
Albertsons Cos. LLC/Safeway, Inc./New Albertsons L.P./Albertson's LLC,
5.75%, due 3/15/25
 
2,458
 
 
Food - Wholesale 0.5%
       
Post Holdings, Inc.
     
 
 
5,115
 
5.50%, due 3/1/25
 
5,089
(f)
   
2,700
 
5.75%, due 3/1/27
 
2,646
(f)
   
3,015
 
5.63%, due 1/15/28
 
2,891
(f)
 
10,626
 
Gaming 3.9%
       
Boyd Gaming Corp.
     
   
4,350
 
6.88%, due 5/15/23
 
4,521
 
   
6,055
 
6.38%, due 4/1/26
 
6,184
 
       
Eldorado Resorts, Inc.
     
   
1,190
 
7.00%, due 8/1/23
 
1,244
 
   
7,860
 
6.00%, due 9/15/26
 
7,840
(f)
   
12,875
 
GLP Capital L.P./GLP Financing II, Inc., 4.88%, due 11/1/20
 
13,059
 
   
2,395
 
Int'l Game Technology PLC, 6.25%, due 1/15/27
 
2,428
(f)
   
4,890
 
Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp., 6.75%, due 11/15/21
 
5,049
(f)
       
MGM Resorts Int'l
     
   
9,185
 
8.63%, due 2/1/19
 
9,185
 
   
4,125
 
5.25%, due 3/31/20
 
4,187
 
   
5,080
 
6.63%, due 12/15/21
 
5,365
 
   
2,175
 
5.75%, due 6/15/25
 
2,186
 
   
3,750
 
Scientific Games Int'l, Inc., 10.00%, due 12/1/22
 
3,942
 
   
3,350
 
Station Casinos LLC, 5.00%, due 10/1/25
 
3,204
(f)
   
6,270
 
VICI Properties 1 LLC/VICI FC, Inc., 8.00%, due 10/15/23
 
6,772
 
   
9,210
 
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.50%, due 3/1/25
 
8,922
(f)
 
84,088
 
Gas Distribution 4.6%
   
8,165
 
Antero Midstream Partners L.P./Antero Midstream Finance Corp., 5.38%, due 9/15/24
 
8,002
 
       
Cheniere Corpus Christi Holdings LLC
     
   
700
 
7.00%, due 6/30/24
 
772
 
   
4,135
 
5.88%, due 3/31/25
 
4,336
 
       
Crestwood Midstream Partners L.P./Crestwood Midstream Finance Corp.
     
   
2,655
 
6.25%, due 4/1/23
 
2,678
 
   
1,915
 
5.75%, due 4/1/25
 
1,877
 
   
4,360
 
DCP Midstream LLC, (3 month USD LIBOR + 3.85%), 5.85%, due 5/21/43
 
3,750
(a)(f)
       
DCP Midstream Operating L.P.
     
   
1,845
 
2.70%, due 4/1/19
 
1,843
 
   
2,160
 
5.38%, due 7/15/25
 
2,203
 
   
2,845
 
5.60%, due 4/1/44
 
2,582
 
       
Energy Transfer Equity L.P.
     
   
12,715
 
7.50%, due 10/15/20
 
13,494
 
   
1,755
 
5.88%, due 1/15/24
 
1,873
 
       
NuStar Logistics L.P.
     
   
4,445
 
4.80%, due 9/1/20
 
4,462
 
   
1,500
 
6.75%, due 2/1/21
 
1,541
 
   
1,680
 
4.75%, due 2/1/22
 
1,638
 
   
2,220
 
5.63%, due 4/28/27
 
2,153
 
   
6,551
 
Rockies Express Pipeline LLC, 5.63%, due 4/15/20
 
6,666
(f)
   
4,500
 
SemGroup Corp./Rose Rock Finance Corp., 5.63%, due 11/15/23
 
4,185
 
   
8,720
 
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 5.75%, due 4/15/25
 
8,175
 
       
Targa Resources Partners L.P./Targa Resources Partners Finance Corp.
     
 
 
2,950
 
4.13%, due 11/15/19
 
2,950
 
   
4,020
 
4.25%, due 11/15/23
 
3,889
 
   
6,940
 
6.75%, due 3/15/24
 
7,218
 
   
3,570
 
5.13%, due 2/1/25
 
3,507
 
   
2,865
 
6.50%, due 7/15/27
 
2,953
(f)
   
6,315
 
5.00%, due 1/15/28
 
5,952
 
   
1,435
 
6.88%, due 1/15/29
 
1,493
(f)
 
100,192
 
Health Facilities 4.5%
   
275
 
Acadia Healthcare Co., Inc., 6.50%, due 3/1/24
 
271
 
   
4,900
 
Columbia/HCA Corp., 7.69%, due 6/15/25
 
5,390
 
       
HCA, Inc.
     
   
11,825
 
5.88%, due 3/15/22
 
12,520
 
   
8,020
 
4.75%, due 5/1/23
 
8,263
 
   
6,295
 
5.00%, due 3/15/24
 
6,550
 
   
2,080
 
5.25%, due 4/15/25
 
2,197
 
   
12,740
 
5.38%, due 9/1/26
 
13,074
 
   
5,285
 
5.63%, due 9/1/28
 
5,462
 
   
5,800
 
5.88%, due 2/1/29
 
6,075
 
   
7,245
 
MEDNAX, Inc., 6.25%, due 1/15/27
 
7,272
(f)
       
Tenet Healthcare Corp.
     
   
1,995
 
4.50%, due 4/1/21
 
1,999
 
   
4,855
 
7.50%, due 1/1/22
 
5,044
(f)
   
1,810
 
8.13%, due 4/1/22
 
1,891
 
   
3,715
 
6.75%, due 6/15/23
 
3,650
 
   
4,826
 
4.63%, due 7/15/24
 
4,727
 
   
10,105
 
6.25%, due 2/1/27
 
10,257
(f)(g)
   
778
 
6.88%, due 11/15/31
 
689
 
   
3,645
 
THC Escrow Corp., 7.00%, due 8/1/25
 
3,515
 
 
98,846
 
Health Services 1.0%
   
4,130
 
DaVita, Inc., 5.75%, due 8/15/22
 
4,197
 
   
5,785
 
IQVIA, Inc., 5.00%, due 10/15/26
 
5,814
(f)
       
Service Corp. Int'l
     
   
1,690
 
5.38%, due 1/15/22
 
1,703
 
   
8,775
 
5.38%, due 5/15/24
 
8,961
 
 
20,675
 
Hotels 0.6%
   
5,298
 
ESH Hospitality, Inc., 5.25%, due 5/1/25
 
5,238
(f)
   
3,320
 
Hilton Domestic Operating Co, Inc., 5.13%, due 5/1/26
 
3,345
(f)
   
5,400
 
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.63%, due 4/1/25
 
5,346
 
 
13,929
 
Integrated Energy 0.8%
       
Cheniere Energy Partners L.P.
     
   
12,660
 
5.25%, due 10/1/25
 
12,723
 
   
4,200
 
5.63%, due 10/1/26
 
4,210
(f)
 
16,933
 
Investments & Misc. Financial Services 0.4%
       
MSCI, Inc.
     
   
2,080
 
5.25%, due 11/15/24
 
2,121
(f)
   
5,905
 
5.75%, due 8/15/25
 
6,112
(f)
 
8,233
 
Machinery 0.5%
 
 
2,670
 
CNH Industrial Capital LLC, 4.88%, due 4/1/21
 
2,710
 
   
2,435
 
Manitowoc Foodservice, Inc., 9.50%, due 2/15/24
 
2,612
 
   
5,700
 
RBS Global, Inc./Rexnord LLC, 4.88%, due 12/15/25
 
5,500
(f)
 
10,822
 
Managed Care 1.4%
       
Centene Corp.
     
   
9,240
 
4.75%, due 5/15/22
 
9,405
 
   
6,030
 
6.13%, due 2/15/24
 
6,317
 
   
3,620
 
5.38%, due 6/1/26
 
3,752
(f)
       
WellCare Health Plans, Inc.
     
   
1,860
 
5.25%, due 4/1/25
 
1,897
 
   
8,095
 
5.38%, due 8/15/26
 
8,277
(f)
 
29,648
 
Media Content 3.6%
       
AMC Networks, Inc.
     
   
3,240
 
5.00%, due 4/1/24
 
3,216
 
   
3,280
 
4.75%, due 8/1/25
 
3,169
 
       
Gannett Co., Inc.
     
   
6,962
 
5.13%, due 10/15/19
 
6,971
 
   
4,095
 
5.13%, due 7/15/20
 
4,105
 
   
4,275
 
Gray Television, Inc., 7.00%, due 5/15/27
 
4,444
(f)
   
3,305
 
Lions Gate Capital Holdings LLC, 5.88%, due 11/1/24
 
3,247
(f)
       
Netflix, Inc.
     
   
2,230
 
5.38%, due 2/1/21
 
2,280
 
   
4,845
 
5.50%, due 2/15/22
 
5,029
 
   
2,875
 
4.38%, due 11/15/26
 
2,722
 
   
2,030
 
4.88%, due 4/15/28
 
1,929
 
   
1,930
 
6.38%, due 5/15/29
 
1,988
(f)
       
Sinclair Television Group, Inc.
     
   
835
 
5.38%, due 4/1/21
 
837
 
   
2,940
 
5.13%, due 2/15/27
 
2,676
(f)
       
Sirius XM Radio, Inc.
     
   
3,740
 
4.63%, due 5/15/23
 
3,735
(f)
   
10,838
 
6.00%, due 7/15/24
 
11,258
(f)
   
6,935
 
5.38%, due 7/15/26
 
6,873
(f)
   
4,645
 
5.00%, due 8/1/27
 
4,488
(f)
       
Univision Communications, Inc.
     
   
2,170
 
6.75%, due 9/15/22
 
2,178
(f)
   
4,075
 
5.13%, due 5/15/23
 
3,810
(f)
   
3,130
 
WMG Acquisition Corp., 5.00%, due 8/1/23
 
3,107
(f)
 
78,062
 
Medical Products 0.2%
       
Hologic, Inc.
     
   
4,785
 
4.38%, due 10/15/25
 
4,699
(f)
   
615
 
4.63%, due 2/1/28
 
594
(f)
 
5,293
 
Metals - Mining Excluding Steel 2.8%
       
Arconic, Inc.
     
   
1,610
 
5.87%, due 2/23/22
 
1,662
 
   
2,260
 
5.13%, due 10/1/24
 
2,274
 
   
1,505
 
Constellium NV, 6.63%, due 3/1/25
 
1,498
(f)
   
3,915
 
First Quantum Minerals Ltd., 7.25%, due 5/15/22
 
3,856
(f)
       
FMG Resources (August 2006) Pty Ltd.
     
 
 
3,910
 
4.75%, due 5/15/22
 
3,899
(f)
   
1,830
 
5.13%, due 5/15/24
 
1,791
(f)
       
Freeport-McMoRan, Inc.
     
   
3,385
 
3.10%, due 3/15/20
 
3,347
 
   
1,815
 
4.00%, due 11/14/21
 
1,792
 
   
7,705
 
3.88%, due 3/15/23
 
7,397
 
   
9,845
 
5.40%, due 11/14/34
 
8,713
 
   
6,380
 
5.45%, due 3/15/43
 
5,487
 
   
4,625
 
Hudbay Minerals, Inc., 7.63%, due 1/15/25
 
4,752
(f)
       
Novelis Corp.
     
   
2,310
 
6.25%, due 8/15/24
 
2,333
(f)
   
10,050
 
5.88%, due 9/30/26
 
9,711
(f)
       
Teck Resources Ltd.
     
   
950
 
4.75%, due 1/15/22
 
962
 
   
1,855
 
8.50%, due 6/1/24
 
1,999
(f)
 
61,473
 
Oil Field Equipment & Services 0.8%
       
Precision Drilling Corp.
     
   
3,939
 
6.50%, due 12/15/21
 
3,801
 
   
2,475
 
7.75%, due 12/15/23
 
2,364
 
   
8,240
 
5.25%, due 11/15/24
 
7,066
 
   
6,070
 
Weatherford Bermuda Holdings Ltd., 4.50%, due 4/15/22
 
3,854
 
 
17,085
 
Packaging 3.4%
       
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
     
   
4,335
 
4.25%, due 9/15/22
 
4,291
(f)
   
2,365
 
4.63%, due 5/15/23
 
2,365
(f)
   
7,335
 
6.00%, due 2/15/25
 
7,133
(f)
       
Ball Corp.
     
   
5,270
 
4.38%, due 12/15/20
 
5,342
 
   
2,075
 
5.00%, due 3/15/22
 
2,148
 
   
7,475
 
Berry Plastics Corp., 5.13%, due 7/15/23
 
7,496
 
       
BWAY Holding Co.
     
   
5,925
 
5.50%, due 4/15/24
 
5,788
(f)
   
3,710
 
7.25%, due 4/15/25
 
3,423
(f)
   
7,480
 
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, due 1/15/23
 
7,536
 
   
4,015
 
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, due 2/1/26
 
3,925
 
   
6,744
 
Owens-Brockway Glass Container, Inc., 5.00%, due 1/15/22
 
6,811
(f)
       
Reynolds Group Issuer, Inc.
     
   
9,022
 
5.75%, due 10/15/20
 
9,057
 
   
1,741
 
6.88%, due 2/15/21
 
1,748
 
   
7,065
 
5.13%, due 7/15/23
 
7,078
(f)
 
74,141
 
Personal & Household Products 0.8%
       
Energizer Holdings, Inc.
     
   
395
 
4.70%, due 5/19/21
 
398
 
   
6,215
 
4.70%, due 5/24/22
 
6,215
 
   
3,925
 
7.75%, due 1/15/27
 
4,044
(f)
   
2,050
 
Prestige Brands, Inc., 6.38%, due 3/1/24
 
2,040
(f)
   
5,350
 
Spectrum Brands, Inc., 5.75%, due 7/15/25
 
5,271
 
 
17,968
 
Pharmaceuticals 1.6%
   
2,860
 
Endo Finance LLC/Endo Finco, Inc., 5.38%, due 1/15/23
 
2,334
(f)
       
Endo Ltd./Endo Finance LLC/Endo Finco, Inc.
     
 
 
5,175
 
6.00%, due 7/15/23
 
4,229
(f)
   
6,070
 
6.00%, due 2/1/25
 
4,689
(f)
       
Valeant Pharmaceuticals Int'l, Inc.
     
   
1,180
 
6.50%, due 3/15/22
 
1,220
(f)
   
3,400
 
5.50%, due 3/1/23
 
3,311
(f)
   
4,395
 
5.88%, due 5/15/23
 
4,305
(f)
   
2,790
 
7.00%, due 3/15/24
 
2,928
(f)
   
4,335
 
6.13%, due 4/15/25
 
4,096
(f)
   
6,915
 
5.50%, due 11/1/25
 
6,897
(f)
 
34,009
 
Printing & Publishing 0.1%
   
1,760
 
R.R. Donnelley & Sons Co., 7.88%, due 3/15/21
 
1,782
 
 
Real Estate Development & Management 0.2%
       
Realogy Group LLC/Realogy Co-Issuer Corp.
     
   
4,835
 
4.50%, due 4/15/19
 
4,835
(f)
   
375
 
5.25%, due 12/1/21
 
375
(f)
 
5,210
 
Real Estate Investment Trusts 1.8%
       
MPT Operating Partnership L.P./MPT Finance Corp.
     
   
8,195
 
6.38%, due 3/1/24
 
8,564
 
   
7,498
 
5.50%, due 5/1/24
 
7,648
 
   
6,615
 
5.25%, due 8/1/26
 
6,648
 
   
9,100
 
Sabra Health Care L.P./Sabra Capital Corp., 5.50%, due 2/1/21
 
9,191
 
   
7,210
 
Starwood Property Trust, Inc., 3.63%, due 2/1/21
 
7,106
 
 
39,157
 
Recreation & Travel 0.9%
   
3,960
 
Cedar Fair L.P./Canada's Wonderland Co./Magnum Management Corp., 5.38%, due 4/15/27
 
3,960
 
   
11,038
 
NCL Corp. Ltd., 4.75%, due 12/15/21
 
11,107
(f)
   
4,855
 
Six Flags Entertainment Corp., 4.88%, due 7/31/24
 
4,806
(f)
 
19,873
 
Restaurants 1.3%
       
1011778 BC ULC/New Red Finance, Inc.
     
   
4,536
 
4.63%, due 1/15/22
 
4,545
(f)
   
10,660
 
4.25%, due 5/15/24
 
10,313
(f)
   
4,715
 
5.00%, due 10/15/25
 
4,550
(f)
   
8,465
 
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 5.25%, due 6/1/26
 
8,571
(f)
 
27,979
 
Software - Services 2.6%
       
CDK Global, Inc.
     
   
2,090
 
3.80%, due 10/15/19
 
2,085
 
   
1,730
 
5.00%, due 10/15/24
 
1,725
 
   
3,000
 
5.88%, due 6/15/26
 
3,064
 
   
7,685
 
First Data Corp., 5.00%, due 1/15/24
 
7,853
(f)
   
6,440
 
Infor Software Parent LLC/Infor Software Parent, Inc., 7.13% Cash/7.88% PIK, due 5/1/21
 
6,488
(f)(h)
   
4,315
 
j2 Cloud Services LLC/j2 Global Co-Obligor, Inc., 6.00%, due 7/15/25
 
4,326
(f)
       
Nuance Communications, Inc.
     
   
3,190
 
5.38%, due 8/15/20
 
3,202
(f)
   
8,980
 
6.00%, due 7/1/24
 
9,070
 
   
7,785
 
Open Text Corp., 5.88%, due 6/1/26
 
8,038
(f)
 
 
12,460
 
Rackspace Hosting, Inc., 8.63%, due 11/15/24
 
10,435
(f)
 
56,286
 
Specialty Retail 0.8%
   
2,915
 
Liberty Media Corp., 8.50%, due 7/15/29
 
2,959
 
       
Penske Automotive Group, Inc.
     
   
8,715
 
3.75%, due 8/15/20
 
8,660
 
   
2,055
 
5.75%, due 10/1/22
 
2,086
 
       
QVC, Inc.
     
   
1,020
 
4.85%, due 4/1/24
 
1,019
 
   
2,320
 
5.45%, due 8/15/34
 
2,085
 
 
16,809
 
Steel Producers - Products 0.7%
   
10,036
 
Big River Steel LLC/BRS Finance Corp., 7.25%, due 9/1/25
 
10,528
(f)
       
Steel Dynamics, Inc.
     
   
855
 
5.25%, due 4/15/23
 
866
 
   
3,540
 
5.50%, due 10/1/24
 
3,654
 
 
15,048
 
Support - Services 4.5%
   
5,330
 
ADT Corp., 4.88%, due 7/15/32
 
4,277
(f)
   
13,030
 
Anna Merger Sub, Inc., 7.75%, due 10/1/22
 
1,832
(f)
       
Aramark Services, Inc.
     
   
9,605
 
5.13%, due 1/15/24
 
9,705
 
   
2,110
 
5.00%, due 2/1/28
 
2,060
(f)
       
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.
     
   
1,365
 
5.50%, due 4/1/23
 
1,358
 
   
2,865
 
5.25%, due 3/15/25
 
2,571
(f)
       
Hertz Corp.
     
   
3,235
 
5.88%, due 10/15/20
 
3,203
 
   
3,035
 
7.63%, due 6/1/22
 
3,021
(f)
   
16,395
 
5.50%, due 10/15/24
 
13,444
(f)
   
7,043
 
IHS Markit Ltd., 5.00%, due 11/1/22
 
7,196
(f)
   
2,285
 
Iron Mountain U.S. Holdings, Inc., 5.38%, due 6/1/26
 
2,174
(f)
       
Iron Mountain, Inc.
     
   
7,880
 
6.00%, due 8/15/23
 
8,077
 
   
2,279
 
5.75%, due 8/15/24
 
2,262
 
   
2,830
 
5.25%, due 3/15/28
 
2,632
(f)
   
9,770
 
Olympus Merger Sub, Inc., 8.50%, due 10/15/25
 
8,146
(f)
   
8,389
 
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, due 5/15/23
 
8,871
(f)
   
5,370
 
Ritchie Bros Auctioneers, Inc., 5.38%, due 1/15/25
 
5,397
(f)
   
3,200
 
ServiceMaster Co. LLC, 5.13%, due 11/15/24
 
3,128
(f)
   
3,325
 
Staples, Inc., 8.50%, due 9/15/25
 
3,192
(f)
       
United Rentals N.A., Inc.
     
   
4,140
 
5.75%, due 11/15/24
 
4,243
 
   
1,670
 
5.50%, due 7/15/25
 
1,691
 
 
98,480
 
Technology Hardware & Equipment 1.5%
       
CDW LLC/CDW Finance Corp.
     
   
3,820
 
5.00%, due 9/1/23
 
3,830
 
   
1,935
 
5.00%, due 9/1/25
 
1,920
 
       
CommScope Technologies LLC
     
   
12,336
 
6.00%, due 6/15/25
 
11,658
(f)
   
5,265
 
5.00%, due 3/15/27
 
4,488
(f)
   
2,400
 
Project Homestake Merger Corp., 8.88%, due 3/1/23
 
1,752
(f)
 
 
9,770
 
Western Digital Corp., 4.75%, due 2/15/26
 
9,086
 
 
32,734
 
Telecom - Satellite 1.5%
   
4,044
 
Hughes Satellite Systems Corp., 6.50%, due 6/15/19
 
4,086
 
       
Intelsat Jackson Holdings SA
     
   
23,000
 
5.50%, due 8/1/23
 
20,901
 
   
5,420
 
8.50%, due 10/15/24
 
5,474
(f)
   
3,177
 
Intelsat Luxembourg SA, 8.13%, due 6/1/23
 
2,643
 
 
33,104
 
Telecom - Wireless 3.6%
       
Sprint Corp.
     
   
7,505
 
7.88%, due 9/15/23
 
7,974
 
   
23,211
 
7.13%, due 6/15/24
 
23,849
 
   
8,950
 
7.63%, due 3/1/26
 
9,297
 
   
7,355
 
Sprint Nextel Corp., 6.00%, due 11/15/22
 
7,448
 
       
T-Mobile USA, Inc.
     
   
12,155
 
6.00%, due 3/1/23
 
12,459
 
   
2,760
 
6.00%, due 4/15/24
 
2,829
 
   
2,320
 
6.50%, due 1/15/26
 
2,453
 
   
3,160
 
4.50%, due 2/1/26
 
3,077
 
   
9,840
 
Wind Tre SpA, 5.00%, due 1/20/26
 
8,094
(f)
 
77,480
 
Telecom - Wireline Integrated & Services 3.7%
   
14,337
 
Citizens Communications Co., 9.00%, due 8/15/31
 
7,849
 
   
8,740
 
Embarq Corp., 8.00%, due 6/1/36
 
8,259
 
       
Equinix, Inc.
     
   
2,025
 
5.75%, due 1/1/25
 
2,081
 
   
3,750
 
5.88%, due 1/15/26
 
3,879
 
       
Frontier Communications Corp.
     
   
2,445
 
7.13%, due 1/15/23
 
1,455
 
   
2,895
 
7.63%, due 4/15/24
 
1,571
 
   
22,685
 
11.00%, due 9/15/25
 
14,632
 
       
Level 3 Financing, Inc.
     
   
3,220
 
5.38%, due 8/15/22
 
3,245
 
   
4,910
 
5.13%, due 5/1/23
 
4,867
 
   
6,300
 
5.38%, due 1/15/24
 
6,268
 
   
2,790
 
Telecom Italia Capital SA, 6.00%, due 9/30/34
 
2,428
 
   
8,454
 
U.S. West Communications Group, 6.88%, due 9/15/33
 
7,966
 
       
Zayo Group LLC/Zayo Capital, Inc.
     
   
5,365
 
6.00%, due 4/1/23
 
5,392
 
   
2,955
 
6.38%, due 5/15/25
 
2,885
 
   
7,665
 
5.75%, due 1/15/27
 
7,406
(f)
 
80,183
 
Theaters & Entertainment 0.9%
       
AMC Entertainment Holdings, Inc.
     
   
11,282
 
5.75%, due 6/15/25
 
10,407
 
   
6,460
 
6.13%, due 5/15/27
 
5,749
 
   
4,465
 
Live Nation Entertainment, Inc., 4.88%, due 11/1/24
 
4,398
(f)
 
20,554
 
 
 
Total Corporate Bonds (Cost $1,987,787)
 
1,974,450
 
 
Convertible Bonds 0.2%
 
Energy - Exploration & Production 0.2%
   
5,505
 
Chesapeake Energy Corp., 5.50%, due 9/15/26 (Cost  $5,355)
 
4,894
 
 
Asset-Backed Securities 0.9%
 
 
1,100
 
Annisa CLO Ltd., Ser. 2016-2A, Class ER, (3 month USD LIBOR + 6.00%), 8.76%, due 7/20/31
 
1,026
(a)(f)
   
350
 
Apidos CLO XXIV, Ser. 2016-24A, Class DR, (3 month USD LIBOR + 5.80%), 8.56%, due 10/20/30
 
328
(a)(f)
   
2,000
 
Ares XLII CLO Ltd., Ser. 2017-42A, Class E, (3 month USD LIBOR + 6.05%), 8.81%, due 1/22/28
 
1,897
(a)(f)
   
1,250
 
Ares XLV CLO Ltd., Ser. 2017-45A, Class E, (3 month USD LIBOR + 6.10%), 8.89%, due 10/15/30
 
1,217
(a)(f)
   
1,000
 
Assurant CLO I Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.46%), 9.22%, due 10/20/29
 
979
(a)(f)
   
500
 
BlueMountain CLO Ltd., Ser. 2018-2A, Class E, (3 month USD LIBOR + 6.05%), 8.31%, due 8/15/31
 
471
(a)(f)
   
250
 
Canyon Capital CLO Ltd., Ser. 2018-1A, Class E, (3 month USD LIBOR + 5.75%), 8.54%, due 7/15/31
 
232
(a)(f)
   
1,000
 
Carbone CLO Ltd., Ser. 2017-1A, Class D, (3 month USD LIBOR + 5.90%), 8.68%, due 1/20/31
 
931
(a)(f)
   
250
 
Dryden 65 CLO Ltd., Ser. 2018-65A, Class E, (3 month USD LIBOR + 5.75%), 8.53%, due 7/18/30
 
235
(a)(f)
   
600
 
Eaton Vance CLO Ltd., Ser. 2015-1A, Class ER, (3 month USD LIBOR + 5.60%), 8.36%, due 1/20/30
 
548
(a)(f)
   
250
 
Galaxy XVIII CLO Ltd., Ser. 2018-28A, Class E, (3 month USD LIBOR + 6.00%), 8.79%, due 7/15/31
 
231
(a)(f)
   
1,500
 
Galaxy XXV CLO Ltd., Ser. 2018-25A, Class E, (3 month USD LIBOR + 5.95%), 8.29%, due 10/25/31
 
1,400
(a)(f)
   
1,000
 
HPS Investment Partners, Ser. 2013-2A, Class DR, (3 month USD LIBOR + 6.60%), 9.36%, due 10/20/29
 
978
(a)(f)
       
Magnetite CLO Ltd.
     
   
900
 
Ser. 2014-8A, Class ER2, (3 month USD LIBOR + 5.65%), 8.44%, due 4/15/31
 
857
(a)(f)
   
2,000
 
Ser. 2015-12A, Class ER, (3 month USD LIBOR + 5.68%), 8.47%, due 10/15/31
 
1,855
(a)(f)
   
1,000
 
Milos CLO Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.30%), 9.06%, due 10/20/30
 
959
(a)(f)
   
1,200
 
OCP CLO Ltd., Ser. 2017-14A, Class D, (3 month USD LIBOR + 5.80%), 8.44%, due 11/20/30
 
1,092
(a)(f)
   
825
 
Octagon Investment Partners 27 Ltd., Ser. 2016-1A, Class ER, (3 month USD LIBOR + 5.95%), 8.74%, due 7/15/30
 
785
(a)(f)
   
710
 
Octagon Investment Partners 39 Ltd., Ser. 2018-3A, Class E, (3 month USD LIBOR + 5.75%), 8.21%, due 10/20/30
 
669
(a)(f)
   
700
 
Octagon Loan Funding Ltd., Ser. 2014-1A, Class ERR, (3 month USD LIBOR + 6.00%), 8.64%, due 11/18/31
 
669
(a)(f)
   
450
 
Palmer Square CLO Ltd., Ser. 2014-1A, Class DR2, (3 month USD LIBOR + 5.70%), 8.47%, due 1/17/31
 
415
(a)(f)
   
1,000
 
Post CLO Ltd., Ser. 2018-1A, Class E, (3 month USD LIBOR + 5.87%), 8.65%, due 4/16/31
 
935
(a)(f)
   
300
 
TICP CLO XI Ltd., Ser. 2018-1A, Class E, (3 month USD LIBOR + 6.00%), 8.44%, due 10/20/31
 
288
(a)(f)
   
650
 
Voya CLO Ltd., Ser. 2016-3A, Class DR, (3 month USD LIBOR + 6.08%), 8.86%, due 10/18/31
 
614
(a)(f)
 
 
Total Asset-Backed Securities (Cost $20,665)
 
19,611
 
 
NUMBER OF
SHARES
 
 
 
Short-Term Investments 2.8%
 
Investment Companies 2.8%
   
61,173,768
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(i) (Cost  $61,174)
 
61,174
(j)
       
 
Total Investments 101.0% (Cost $2,221,479)
2,203,404
 
       
 
Liabilities Less Other Assets (1.0)%
(21,119)
 
       
 
Net Assets 100.0%
$2,182,285
 
 
 
(a)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(b)
 
The stated interest rate represents the weighted average interest rate at January 31, 2019 of the underlying contracts within the Loan Assignment. Interest rates on the underlying contracts are primarily determined by reference to the indicated base lending rate and spread, which are indicated in the security description, and the reset period, which is generally weekly, monthly or quarterly.
(c)
 
Value determined using significant unobservable inputs.
(d)
 
All or a portion of this security was purchased on a delayed delivery basis.
(e)
 
All or a portion of this security had not settled as of January 31, 2019 and thus may not have an interest rate in effect. Interest rates do not take effect until settlement.
(f)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $889,451,000, which represents 40.8% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(g)
 
When-issued security. Total value of all such securities at January 31, 2019 amounted to approximately $34,627,000, which represents 1.6% of net assets of the Fund.
(h)
 
Payment-in-kind (PIK) security.
(i)
 
Represents 7-day effective yield as of January 31, 2019.
(j)
 
All or a portion of this security is segregated in connection with obligations for when-issued and /or delayed delivery securities with a total value of approximately $61,174,000.
 
 
See Notes to Schedule of Investments

Schedule of Investments High Income Bond Fund^
(Unaudited) (cont’d)
 
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3(b)
   
Total
 
Investments:
       
Loan Assignments
                       
   Health Care
 
$
   
$
4,055
   
$
7,136
   
$
11,191
 
   Other Loan Assignments(a)
   
     
132,084
     
     
132,084
 
Total Loan Assignments(a)
   
     
136,139
     
7,136
     
143,275
 
Corporate Bonds(a)
   
     
1,974,450
     
     
1,974,450
 
Convertible Bonds(a)
   
     
4,894
     
     
4,894
 
Asset-Backed Securities
   
     
19,611
     
     
19,611
 
Short-Term Investments
   
     
61,174
     
     
61,174
 
Total Investments
 
$
   
$
2,196,268
   
$
7,136
   
$
2,203,404
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.
(b)
The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

 
 
 
 
 
Beginning balance, as
of  11/1/2018
 
 
 
 
 
Accrued discounts/
(premiums)
 
 
 
 
 
Realized gain/
(loss)
 
 
 
 
Change in unrealized appreciation/
(depreciation)
 
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
Sales
 
 
 
 
 
Transfers
into
Level 3
 
 
 
 
 
Transfers
out of
Level 3
 
 
 
 
 
Balance,
as of
1/31/2019
Net change in unrealized appreciation/
(depreciation) from
investments still held as of 1/31/2019
Investments in Securities:
(000’s omitted)
                   
Loan Assignments(c)
                   
Health Care
$—
$1
$—
$(349)
$642
$(19)
$6,861
$—
$7,136
$(349)
Lodging & Casinos
 
7,404
 
7
 
293
 
(703)
 
 
(7,001)
 
 
 
 
Total
$7,404
$8
$293
$(1,052)
$642
$(7,020)
$6,861
$—
$7,136
$(349)

(c)
Securities categorized as Level 3 are valued based on a single quotation obtained from a dealer. The Fund does not have access to unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.
 
^
A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.


 
See Notes to Schedule of Investments

Schedule of Investments Municipal Impact Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
   
VALUE
(000's omitted)
   
(000's omitted)
 
Municipal Notes 101.0%
 
Alabama 1.2%
 
$
565
 
Fort Payne City G.O. (Sch. Warrants), Ser. 2018-B, (AGM Insured), 5.00%, due 5/1/27
$
677
 
 
Arkansas 1.9%
       
Russellville City Wtr. & Swr. Rev.
     
   
315
 
Ser. 2018, (AGM Insured), 4.00%, due 7/1/28
 
342
 
   
660
 
Ser. 2018, (AGM Insured), 4.00%, due 7/1/30
 
707
 
 
1,049
 
California 3.9%
   
1,000
 
California St. G.O. (Kindergarten Univ.), (LOC: State Street Bank and Trust Co.), Ser. 2004-A-3, 1.35%, due 5/1/34
 
1,000
(a)
   
1,000
 
Univ. of California Reg. Med. Ctr. Pooled Rev., Ser. 2013-K, 1.35%, due 5/15/47
 
1,000
(a)
   
200
 
Univ. of California Rev. Ref., Ser. 2013-AL-3, 1.35%, due 5/15/48
 
200
(a)
 
2,200
 
Connecticut 2.2%
   
1,225
 
Connecticut HFA Hsg. Mtg. Fin. Rev. Prog., Subser. 2017-A-4, 1.75%, due 5/15/21
 
1,219
 
 
District of Columbia 3.3%
   
1,000
 
Dist. of Columbia Hsg. Fin. Agcy. Rev., Ser. 2018-B-1, (FHA Insured), 2.55%, due 9/1/23 Putable 3/1/22
 
1,013
 
   
725
 
Washington Metro. Area Transit Au. Gross Rev., Ser. 2017-B, 5.00%, due 7/1/24
 
841
 
 
1,854
 
Florida 4.0%
   
700
 
Florida St. Dept. Env. Port Preservation Rev. Ref., Ser. 2016-A, 5.00%, due 7/1/22
 
775
 
   
1,225
 
Miami-Dade Co. (Bldg. Better Comm. Prog.), Ser. 2015-D-REMK, 5.00%, due 7/1/26
 
1,477
 
 
2,252
 
Georgia 2.0%
   
1,000
 
Metropolitan Atlanta Rapid Transit Au. Sales Tax Rev. Ref., Ser. 2016-B, 5.00%, due 7/1/35
 
1,149
 
 
Illinois 1.9%
   
1,000
 
Illinois Fin. Au. Rev. (Clean Wtr. Initiative), Ser. 2017, 5.00%, due 1/1/22
 
1,091
 
 
Indiana 3.6%
       
Anderson Sch. Bldg. Corp. (First Mtge.)
     
   
850
 
Ser. 2018, 5.00%, due 1/15/24
 
969
 
   
895
 
Ser. 2018, 5.00%, due 1/15/26
 
1,052
 
 
2,021
 
Kansas 1.0%
   
500
 
Wyandotte Co. Unified Sch. Dist. # 203 G.O. Impt., Ser. 2018-A, 5.00%, due 9/1/35
 
585
 
 
Kentucky 3.0%
   
500
 
Kentucky Rural Wtr. Fin. Corp. Pub. Proj. Rev. (Construction Notes), Ser. 2018-E-1, 2.25%, due 3/1/20
 
501
 
   
1,000
 
Logan-Todd Reg. Wtr. Commission Rev. Ref., Ser. 2016-A, (AGM Insured), 5.00%, due 7/1/28
 
1,168
 
 
1,669
 
Louisiana 5.4%
   
845
 
Louisiana Pub. Facs. Au. Rev. Ref. (Hurricane Rec. Prog.), Ser. 2014, 5.00%, due 6/1/24
 
965
 
 
 
530
 
Louisiana St. Local Gov't Env. Facs. & Comm. Dev. Au. Rev. (Sub. Lien-East Baton Rouge Swr.), Ser. 2014-A, 5.00%, due 2/1/44
 
581
 
       
Natchitoches Parish Sch. Dist. G.O. # 9
     
   
505
 
Ser. 2018, (AGM Insured), 5.00%, due 3/1/27
 
599
 
   
755
 
Ser. 2018, (AGM Insured), 5.00%, due 3/1/28
 
905
 
 
3,050
 
Michigan 8.0%
   
500
 
Livonia Pub. Sch. Dist. G.O., Ser. 2016, (AGM Insured), 5.00%, due 5/1/28
 
582
 
   
750
 
Michigan St. Hsg. Dev. Au. Rev. (Non Ace), Ser. 2016-B, 2.50%, due 12/1/26
 
750
 
   
290
 
Michigan St. Hsg. Dev. Au. Rev. Ref., Ser. 2018-B, 3.15%, due 4/1/28
 
296
 
   
1,000
 
Michigan St. Hsg. Dev. Au. Single Family Mtge. Rev. (Non Ace), Ser. 2018-C, 2.90%, due 12/1/24
 
1,028
 
       
Trenton Pub. Sch. Dist. G.O. (Sch. Bldg. & Site)
     
   
850
 
Ser. 2018, 5.00%, due 5/1/39
 
966
 
   
785
 
Ser. 2018, 5.00%, due 5/1/36
 
902
 
 
4,524
 
Minnesota 3.9%
   
1,000
 
Minnesota Hsg. Fin. Agcy. (Rental Hsg.), Ser. 2019-A, (HUD SECT 8 Insured), 2.00%, due 8/1/20
 
1,000
 
   
1,000
 
Minnesota Rural Wtr. Fin. Au. (Pub. Proj. Construction Notes), Ser. 2019, 2.00%, due 8/1/20
 
1,001
(b)
   
210
 
St. Paul Hsg. & Redev. Au. Charter Sch. Lease Rev. (Metro Deaf Sch. Proj.), Ser. 2018-A, 5.00%, due 6/15/38
 
210
(c)
 
2,211
 
Mississippi 2.8%
       
West Rankin Utils. Au. Rev.
     
   
440
 
Ser. 2018, (AGM Insured), 5.00%, due 1/1/43
 
487
 
   
1,000
 
Ser. 2018, (AGM Insured), 5.00%, due 1/1/48
 
1,100
 
 
1,587
 
Missouri 2.5%
       
Missouri St. Env. Imp. & Energy Res. Au. Wtr. PCR
     
   
660
 
Ser. 2018-A, 5.00%, due 7/1/29
 
813
 
   
510
 
Ser. 2018-A, 5.00%, due 1/1/30
 
624
 
 
1,437
 
New Jersey 2.9%
   
1,000
 
New Jersey St. Hsg. & Mtge. Fin. Agcy. Multi-Family Conduit Rev. (Camden Town Hsg. Proj.), Ser. 2017-F, 1.35%, due 2/1/20 Putable 08/1/2019
 
1,000
(b)
   
650
 
New Jersey St. Hsg. & Mtge. Fin. Agcy. Multi-Family Rev. Ref., Ser. 2017-A, 2.60%, due 11/1/24
 
659
 
 
1,659
 
New York 13.6%
   
200
 
Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Charter Sch. for Applied Technologies Proj.), Ser. 2017-A, 4.00%, due 6/1/22
 
206
 
       
Dutchess Co. Local Dev. Corp. Rev.
     
   
225
 
Ser. 2014-A, 5.00%, due 7/1/21
 
241
 
   
150
 
Ser. 2014-A, 5.00%, due 7/1/22
 
165
 
   
135
 
Ser. 2014-A, 4.00%, due 7/1/23
 
146
 
   
115
 
Ser. 2014-A, 5.00%, due 7/1/25
 
131
 
       
Monroe Co. Ind. Dev. Corp. Rev. (St. John Fisher College)
     
   
115
 
Ser. 2014-A, 5.00%, due 6/1/20
 
120
 
   
50
 
Ser. 2014-A, 5.00%, due 6/1/22
 
55
 
   
100
 
Ser. 2014-A, 5.00%, due 6/1/23
 
113
 
   
450
 
Monroe Co. Ind. Dev. Corp. Rev. Ref. (Highland Hosp. Rochester Proj.), Ser. 2015, 5.00%, due 7/1/22
 
496
 
   
150
 
Nassau Co. Local Econ. Assist. Corp. Rev. (Catholic Hlth. Svcs. of Long Island Obligated Group Proj.), Ser. 2014, 5.00%, due 7/1/27
 
168
 
 
 
200
 
New York St. Dorm. Au. Rev. Non St. Supported Debt (North Shore-Long Island Jewish Oblig. Group), Ser. 2011-A, 5.00%, due 5/1/22 Pre-Refunded 5/1/21
 
215
 
       
New York St. Dorm. Au. Rev. Non St. Supported Debt (Sch. Dist. Fin. Prog.)
     
   
275
 
Ser. 2014-A, (AGM Insured), 5.00%, due 10/1/23
 
314
 
   
2,000
 
Ser. 2014-A, (AGM Insured), 5.00%, due 10/1/24
 
2,324
(d)
   
5
 
New York St. Dorm. Au. Rev. St. Supported Debt (City Univ. Cons. 5th), Ser. 2008-E, 6.13%, due 1/1/31
 
5
 
   
1,900
 
New York St. Dorm. Au. Sales Tax Rev., Ser. 2013-A, 5.00%, due 3/15/28
 
2,118
(d)
   
500
 
New York St. Hsg. Fin. Agcy. Rev. (Green Bond), Ser. 2018-F, (SONYMA Insured), 2.15%, due 5/1/21
 
500
 
   
350
 
Rockland Co. G.O. (Pub. Imp.), Ser. 2014-C, (AGM Insured), 4.00%, due 5/1/21
 
367
 
 
7,684
 
North Carolina 1.3%
       
Scotland Co. Rev.
     
   
350
 
Ser. 2018, 5.00%, due 12/1/24
 
406
 
   
250
 
Ser. 2018, 5.00%, due 12/1/26
 
298
 
 
704
 
North Dakota 0.4%
   
250
 
Grand Forks Co. Rev. (Green Bond-Red River Biorefinery, LLC Proj.), Ser. 2018, 5.38%, due 9/15/38
 
233
(c)
 
Ohio 3.2%
   
750
 
American Muni. Pwr. Ohio, Inc. Rev. (Comb. Hydroelectric Proj.), Ser. 2018-A, 2.25%, due 2/15/48 Putable 8/15/21
 
752
 
       
American Muni. Pwr. Ohio, Inc. Rev. Solar Elec. Pre-Payment (Green Bond)
     
   
305
 
Ser. 2019-A, 5.00%, due 2/15/20
 
315
 
   
200
 
Ser. 2019-A, 5.00%, due 2/15/21
 
213
 
   
300
 
Ser. 2019-A, 5.00%, due 2/15/22
 
328
 
   
175
 
Ser. 2019-A, 5.00%, due 2/15/23
 
196
 
 
1,804
 
Oklahoma 2.9%
   
935
 
Delaware Co. Ed. Facs. Au. Ed. Facs. Lease Rev. (Grove Pub. Sch. Proj.), Ser. 2015, 5.00%, due 9/1/22
 
1,024
 
   
555
 
Lincoln Co. Ed. Facs. Au. Ed. Facs. Lease Rev. (Stroud Pub. Sch. Proj.), Ser. 2016, 5.00%, due 9/1/27
 
639
 
 
1,663
 
Pennsylvania 8.4%
       
Allegheny Co. Sanitary Au. Rev.
     
   
290
 
Ser. 2018, 5.00%, due 6/1/30
 
343
 
   
565
 
Ser. 2018, 5.00%, due 6/1/32
 
659
 
   
1,000
 
Lycoming Co. Au. Hlth. Sys. Rev. (Susquehanna Hlth. Sys. Proj.), Ser. 2009-A, 5.50%, due 7/1/21
 
1,015
 
   
1,000
 
Pennsylvania St. Hsg. Fin. Agcy. Single Family Mtge. Rev., Ser. 2018-127B, 2.85%, due 4/1/26
 
1,026
 
   
1,000
 
Philadelphia Au. For Ind. Dev. City Svc. Agreement Rev., Ser. 2018, 5.00%, due 5/1/30
 
1,160
 
   
500
 
Philadelphia Wtr. & Wastewater Rev. Ref., Ser. 2016, 5.00%, due 10/1/23
 
567
 
 
4,770
 
Rhode Island 1.0%
   
500
 
Rhode Island St. Providence Plantation Lease Ref. Cert. of Participation (Sch. Deaf Proj.), Ser. 2017-D, 5.00%, due 4/1/22
 
547
 
 
South Carolina 1.2%
   
500
 
Allendale Co. Sch. Dist. Energy Savings Spec. Oblig. Rev. Ref. (Impt.), Ser. 2014, 3.00%, due 12/1/20
 
507
 
 
 
175
 
South Carolina Jobs Econ. Dev. Au. Solid Waste Disp. Rev. (Green Bond-Jasper Pellets LLC, Proj.), Ser. 2018-A, 7.00%, due 11/1/38
 
172
(c)
 
679
 
Texas 7.7%
   
910
 
El Paso Wtr. & Swr. Rev. Ref., Ser. 2014, 5.00%, due 3/1/24
 
1,044
 
   
850
 
Laredo Independent Sch. Dist. G.O. (Sch. Bldg.), Ser. 2013, 5.00%, due 8/1/24
 
956
 
   
1,015
 
Weslaco G.O. Ref., Ser. 2017, (AGM Insured), 5.00%, due 8/15/27
 
1,227
 
   
1,000
 
Ysleta Independent Sch. Dist. G.O. (Sch. Bldg.), Ser. 2017, (PSF-GTD Insured), 5.00%, due 8/15/41
 
1,129
 
 
4,356
 
Utah 1.8%
   
915
 
Grand Co. Sch. Dist. Local Bldg. Au. Rev., Ser. 2019, (AGM Insured), 5.00%, due 12/15/22
 
1,019
(b)
 
West Virginia 5.2%
   
500
 
West Virginia Hosp. Fin. Au. Rev. (Impt. West Virginia Univ. Hlth. Sys. Obligated Group), Ser. 2018-A, 5.00%, due 6/1/52
 
536
 
   
700
 
West Virginia Hosp. Fin. Au. Rev. (West Virginia Univ. Hlth. Sys.), Ser. 2017-A, 5.00%, due 6/1/35
 
775
 
       
West Virginia Hsg. Dev. Fund Rev. (Hsg. Fin.)
     
   
220
 
Ser. 2018-A, 1.88%, due 11/1/20
 
220
 
   
275
 
Ser. 2018-A, 2.65%, due 11/1/24
 
280
 
   
990
 
West Virginia Wtr. Dev. Au. Rev. Ref. (Loan Prog.), Ser. 2018-A-IV, 5.00%, due 11/1/36
 
1,151
 
 
2,962
 
Wisconsin 0.8%
   
395
 
Oregon Sch. Dist. G.O. (Green Bond-Sch. Bldg. & Impt.), Ser. 2019, 5.00%, due 3/1/22
 
433
(b)
       
 
Total Investments 101.0% (Cost $56,106)
57,088
 
       
 
Liabilities Less Other Assets (1.0)%
(538)
 
       
 
Net Assets 100.0%
$56,550
 
 
(a)
 
Variable rate demand obligation where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate generally resets daily or weekly and is determined by the remarketing agent. The rate shown represents the rate in effect at January 31, 2019.
(b)
 
When-issued security. Total value of all such securities at January 31, 2019 amounted to approximately $3,453,000, which represents 6.1% of net assets of the Fund.
(c)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 Act or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $615,000, which represents 1.1% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(d)
 
All or a portion of this security is segregated in connection with obligations for when-issued securities with a total value of approximately $4,442,000.
 
See Notes to Schedule of Investments

Schedule of Investments Municipal Impact Fund^
(Unaudited) (cont’d)
 
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
Municipal Notes(a)
 
$
   
$
57,088
   
$
   
$
57,088
 
Total Investments
 
$
   
$
57,088
   
$
   
$
57,088
 
 
(a)
The Schedule of Investments provides a categorization by state/territory for the portfolio.

^ A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.


 
 
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Municipal High Income Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
   
VALUE
(000's omitted)
   
(000's omitted)
 
Municipal Notes 99.1%
 
Alabama 0.5%
 
$
300
 
Birmingham Spec. Care Facs. Fin. Au. Rev. (Methodist Home for The Aging), Ser. 2016-2015-1, 5.75%, due 6/1/45
$
317
 
   
100
 
Taylor-Ryan Imp. Dist. Rev. Ref., Ser. 2005, (LOC: Synovus Bank), 1.58%, due 11/1/35
 
100
(a)
 
417
 
Arizona 6.1%
   
500
 
Maricopa Co. Ind. Dev. Au. Ed. Ref. Rev. (Paradise Sch. Proj. Paragon Management, Inc.), Ser. 2016, 5.00%, due 7/1/36
 
514
(b)
   
800
 
Maricopa Co. Ind. Dev. Au. Solid Waste Disp. Rev. (Waste Management, Inc. Proj.), Ser. 2001, 3.38%, due 12/1/31 Putable 6/3/24
 
813
 
   
1,230
 
Maricopa Co. Ind. Dev. Au. Sr. Living Fac. Ref. Rev. (Christian Care Retirement Apts. Inc. Proj.), Ser. 2016-A, 5.00%, due 1/1/25
 
1,410
 
   
500
 
Maricopa Co. Ind. Dev. Au. Sr. Living Fac. Rev. (Christian Care Surprise, Inc. Proj.), Ser. 2016, 5.00%, due 1/1/26
 
494
(b)
   
250
 
Navajo Nation Ref. Rev., Ser. 2015-A, 5.00%, due 12/1/25
 
272
(b)
   
500
 
Phoenix Ind. Dev. Au. Ed. Ref. Rev. (Great Hearts Academies), Ser. 2016-A, 5.00%, due 7/1/46
 
515
 
   
600
 
Phoenix Ind. Dev. Au. Rev. (Deer Valley Veterans Assisted Living Proj.), Ser. 2016-A, 5.13%, due 7/1/36
 
586
 
   
500
 
Pima Co. Ind. Dev. Au. Ed. Ref. Rev. (American Leadership Academy Proj.), Ser. 2015, 5.38%, due 6/15/35
 
514
(b)
 
5,118
 
California 9.2%
   
250
 
California Muni. Fin. Au. Charter Sch. Lease Rev. (Santa Rosa Academy Proj.), Ser. 2015, 5.13%, due 7/1/35
 
261
(b)
   
500
 
California Muni. Fin. Au. Charter Sch. Rev. (John Adams Academics Proj.), Ser. 2015-A, 4.50%, due 10/1/25
 
505
 
   
500
 
California Muni. Fin. Au. Charter Sch. Rev. (Palmdale Aerospace Academy Proj.), Ser. 2016, 5.00%, due 7/1/31
 
531
(b)
   
400
 
California Muni. Fin. Au. Rev. (Baptist Univ.), Ser. 2015-A, 5.00%, due 11/1/30
 
436
(b)
   
830
 
California St. Dept. of Veterans Affairs Home Purchase Ref. Rev., Ser. 2016-A, 2.85%, due 12/1/27
 
822
 
   
470
 
California St. Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev. (Aemerge Redpak Svcs. So. California LLC Proj.), Ser. 2016, 7.00%, due 12/1/27
 
452
(b)(c)
   
250
 
California St. Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev. (Green Bond-Rialto Bioenergy Fac. LLC, Proj.), Ser. 2019, 7.50%, due 12/1/40
 
239
(b)
   
500
 
California St. Sch. Fin. Au. Charter Sch. Rev. (Downtown College Prep-Oblig. Group), Ser. 2016, 4.75%, due 6/1/36
 
504
(b)
   
600
 
California St. Sch. Fin. Au. Charter Sch. Rev. (Rocketship Ed.), Ser. 2016-A, 5.00%, due 6/1/31
 
622
(b)
   
300
 
California Statewide CDA College Hsg. Rev. (NCCD-Hooper Street LLC-College of the Arts Proj.), Ser. 2019, 5.25%, due 7/1/52
 
313
(b)
   
400
 
California Statewide CDA Rev. Ref. (Lancer Ed. Std. Hsg. Proj.), Ser. 2016-A, 5.00%, due 6/1/36
 
428
(b)
   
145
 
California Statewide CDA Spec. Tax Rev. Ref. (Comm. Facs. Dist. Number 2007-01 Orinda Wilder Proj.), Ser. 2015, 4.50%, due 9/1/25
 
158
 
   
400
 
Del Mar Race Track Au. Ref. Rev., Ser. 2015, 5.00%, due 10/1/38
 
401
 
   
600
 
Deutsche Bank Spears/Lifers Trust Rev. (Starwood Comm. Dev. Au. Multi-Family Hsg.) (Deutsche Bank AG), Ser. 2017-DBE-7006, 1.88%, due 4/1/52
 
600
(a)(b)
   
500
 
Golden St. Tobacco Securitization Corp. Tobacco Settlement Rev. Ref., Ser. 2018-A-1, 5.00%, due 6/1/47
 
472
 
   
485
 
Los Alamitos Unified Sch. Dist. G.O. (Cap. Appreciation Bonds Sch. Facs. Dist. Number 1-2008 Election), Ser. 2013-E, 0.00%, due 8/1/43
 
417
(d)
 
 
500
 
Palomar Hlth. Ref. Rev., Ser. 2016, 5.00%, due 11/1/36
 
539
 
 
7,700
 
Colorado 3.8%
   
471
 
Crystal Crossing Metro. Dist. Ref. G.O., Ser. 2016, 4.50%, due 12/1/26
 
468
 
   
1,000
 
Denver Convention Ctr. Hotel Au. Ref. Rev., Ser. 2016, 5.00%, due 12/1/27
 
1,124
 
   
500
 
Littleton Village Metro. Dist. Number 2 Ref. G.O., Ser. 2015, 5.38%, due 12/1/45
 
506
 
       
Park Creek Metro. Dist. Ref. Tax Allocation Rev. (Sr. Ltd. Prop. Tax Supported)
     
   
250
 
Ser. 2015-A, 5.00%, due 12/1/34
 
278
 
   
250
 
Ser. 2015-A, 5.00%, due 12/1/35
 
277
 
   
500
 
Ser. 2015-A, 5.00%, due 12/1/45
 
540
 
 
3,193
 
Connecticut 1.2%
   
725
 
City of Bridgeport, Ser. 2017-A, 5.00%, due 11/1/28
 
832
 
   
145
 
Mohegan Tribe of Indians Gaming Au. Ref. Rev. (Priority Dist.), Ser. 2015-C, 4.75%, due 2/1/20
 
146
(b)
 
978
 
Florida 3.5%
   
200
 
Cap. Trust Agcy. Sr. Living Rev. (H-Bay Ministries, Inc. Superior Residences-Third Tier), Ser. 2018-C, 7.50%, due 7/1/53
 
191
(b)
   
650
 
Florida Dev. Fin. Corp. Ed. Facs. Rev. Ref. (Pepin Academies, Inc.), Ser. 2016-A, 5.00%, due 7/1/36
 
601
 
   
450
 
Florida St. Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc. Proj.), Ser. 2015-A, 6.00%, due 6/15/35
 
462
(b)
   
350
 
Florida St. Dev. Fin. Corp. Sr. Living Rev. (Tuscan Isle Champions Gate Proj.), Ser. 2016-A, 6.38%, due 6/1/46
 
297
(b)
   
395
 
Florida St. Hsg. Fin. Corp. Rev., Ser. 2015-1, 3.75%, due 7/1/35
 
399
 
   
400
 
Greater Orlando Aviation Au. Arpt. Facs. Spec. Purp. Rev. (JetBlue Airways Corp. Proj.), Ser. 2013, 5.00%, due 11/15/36
 
415
 
   
525
 
Lee Co. Ind. Dev. Au. Rev. (Cypress Cove Hlth. Park, Inc. Memory Care Proj.), Ser. 2014, 4.50%, due 10/1/32
 
522
 
 
2,887
 
Georgia 0.6%
   
250
 
Cobb Co. Dev. Au. Sr. Living Ref. Rev. (Provident Village Creekside Proj.), Ser. 2016-A, 6.00%, due 7/1/36
 
226
(b)(c)
   
300
 
Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25
 
280
(b)(c)
 
506
 
Hawaii 0.9%
       
Hawaii St. Dept. of Budget & Fin. Spec. Purp. Rev. Ref.
     
   
250
 
Ser. 2015, 5.00%, due 1/1/35
 
245
(b)
   
500
 
Ser. 2015, 5.00%, due 1/1/45
 
469
(b)
 
714
 
Illinois 9.5%
   
25
 
Chicago G.O., Ser. 2009-C, 5.00%, due 1/1/27 Pre-Refunded 2/19/19
 
25
 
       
Chicago O'Hare Int'l Arpt. Rev. Ref.
     
   
200
 
Ser. 2015-A, 5.00%, due 1/1/28
 
223
 
   
100
 
Ser. 2015-A, 5.00%, due 1/1/34
 
108
 
   
500
 
Chicago O'Hare Int'l Arpt. Spec. Fac. Rev. (Trips Obligated Group), Ser. 2018, 5.00%, due 7/1/48
 
543
 
       
Chicago Ref. G.O.
     
   
1,000
 
Ser. 2012-C, 5.00%, due 1/1/20
 
1,018
 
   
500
 
Ser. 2012-C, 5.00%, due 1/1/24
 
518
 
   
155
 
Chicago Wastewater Rev. (Second Lien Proj.), Ser. 2014, 5.00%, due 11/1/27
 
174
 
 
 
500
 
Chicago Wastewater Transmission Rev. Ref. (Second Lien), Ser. 2008-C, 5.00%, due 1/1/39
 
539
 
   
400
 
Illinois Fin. Au. Charter Sch. Rev. (Intrinsic Sch.-Belmont Sch. Proj.), Ser. 2015-A, 5.75%, due 12/1/35
 
403
(b)
   
425
 
Illinois Fin. Au. Rev. Ref. (Rosalind Franklin Univ. of Medicine & Science), Ser. 2017-A, 5.00%, due 8/1/47
 
453
 
       
Illinois St. G.O.
     
   
500
 
Ser. 2017-A, 5.00%, due 12/1/35
 
521
 
   
1,000
 
Ser. 2017-D, 5.00%, due 11/1/28
 
1,080
 
       
Illinois St. G.O. Ref.
     
   
750
 
Ser. 2016, 5.00%, due 2/1/24
 
799
 
   
485
 
Ser. 2016, 5.00%, due 2/1/26
 
524
 
   
510
 
Illinois St. Sales Tax Rev., Ser. 1992-P, 6.50%, due 6/15/22
 
532
 
   
500
 
Upper Illinois River Valley Dev. Au. Rev. Ref. (Cambridge Lakes Learning Ctr.), Ser. 2017-A, 5.25%, due 12/1/47
 
483
(b)
 
7,943
 
Indiana 1.0%
   
725
 
Indianapolis Econ. Dev. Rev. Ref. (Brookhaven Co. Line Apts. Proj.), Ser. 2013-A, 6.25%, due 7/1/43
 
842
 
 
Iowa 0.5%
   
400
 
Iowa Higher Ed. Loan Au. Ref. Rev. (Wartburg College Proj.), Ser. 2015, 5.00%, due 10/1/32
 
403
 
 
Kansas 0.4%
   
300
 
Wichita City Sales Tax. Spec. Oblig. Rev. Ref. (Greenwich Star Bond), Ser. 2017-K-96, 4.20%, due 9/1/27
 
300
 
 
Kentucky 1.6%
   
405
 
Kentucky Econ. Dev. Fin. Au. (Sr. Next Generation Information Hwy. Proj.), Ser. 2015-A, 4.00%, due 7/1/29
 
410
 
   
435
 
Kentucky Econ. Dev. Fin. Au. Rev. Ref. (Owensboro Hlth., Inc. Obligated Group), Ser. 2017-A, (AGM Insured), 4.00%, due 6/1/37
 
442
 
   
475
 
Ohio Co. PCR Ref. (Big Rivers Elec. Corp. Proj.), Ser. 2010-A, 6.00%, due 7/15/31
 
478
 
 
1,330
 
Louisiana 1.2%
   
400
 
Louisiana Local Gov't Env. Facs. & Comm. Dev. Au. Rev. Ref. (Westside Habilitation Ctr. Proj.), Ser. 2017-A, 5.75%, due 2/1/32
 
408
(b)
   
500
 
New Orleans Aviation Board Rev. (Gen. Arpt. Terminal), Ser. 2017-B, 5.00%, due 1/1/26
 
577
 
 
985
 
Maine 0.8%
   
445
 
Maine St. Ed. Loan Au. Std. Loan Rev. (Supplemental Ed. Loan), Ser. 2014-A-1, (AGM Insured), 4.00%, due 12/1/20
 
457
 
   
200
 
Maine St. Fin. Au. Solid Waste Disp. Rev. (Casella Waste Sys. Proj.), Ser. 2015, 5.13%, due 8/1/35 Putable 8/1/25
 
207
(b)
 
664
 
Michigan 2.9%
   
1,000
 
Michigan St. Fin. Au. Rev. Ref. (Std. Loan), Ser. 2014-25-A, 5.00%, due 11/1/20
 
1,046
 
   
1,000
 
Michigan St. Hsg. Dev. Au. Rev., Ser. 2016-C, 2.15%, due 6/1/23
 
990
 
   
400
 
Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.38%, due 11/1/35
 
400
 
 
2,436
 
Minnesota 0.9%
   
500
 
St. Paul Hsg. & Redev. Au. Charter Sch. Lease Rev. (Academia Cesar Chavez Sch. Proj.), Ser. 2015-A, 5.25%, due 7/1/50
 
490
 
 
 
300
 
St. Paul Hsg. & Redev. Au. Charter Sch. Lease Rev. (Twin Cities Academy Proj.), Ser. 2015-A, 5.00%, due 7/1/35
 
301
 
 
791
 
Mississippi 1.2%
   
1,000
 
Mississippi St. Bus. Fin. Commission Gulf Opportunity Zone Rev. (Chevron U.S.A., Inc. Proj.), Ser. 2010-G, 1.60%, due 11/1/35
 
1,000
(a)
 
Missouri 2.1%
   
700
 
Missouri St. Hlth. & Ed. Fac. Au. Rev. (St. Louis Univ.), Ser. 2008-B-1, (LOC: Barclays Bank PLC), 1.65%, due 10/1/35
 
700
(a)
       
St. Louis Co. Ind. Dev. Au. Ref. Rev. (Nazareth Living Ctr. Proj.)
     
   
255
 
Ser. 2015-A, 5.00%, due 8/15/30
 
264
 
   
390
 
Ser. 2015-A, 5.00%, due 8/15/35
 
397
 
   
355
 
Ser. 2015-A, 5.13%, due 8/15/45
 
361
 
 
1,722
 
Nevada 0.6%
   
500
 
Director of the St. of Nevada Dept. of Bus. & Ind. Rev. (Somerset Academy), Ser. 2015-A, 5.13%, due 12/15/45
 
505
(b)
 
New Jersey 8.1%
       
Atlantic City G.O. Ref.
     
   
200
 
Ser. 2017-A, (BAM Insured), 5.00%, due 3/1/26
 
231
 
   
200
 
Ser. 2017-A, (BAM Insured), 5.00%, due 3/1/32
 
226
 
   
200
 
Ser. 2017-A, (BAM Insured), 5.00%, due 3/1/42
 
219
 
   
200
 
Essex Co. Imp. Au. Solid Waste Disp. Rev. (Covanta Energy Proj.), Ser. 2015, 5.25%, due 7/1/45
 
201
(b)
       
New Jersey Econ. Dev. Au. Ref. Rev. (Sch. Facs. Construction)
     
   
625
 
Ser. 2005-K, (AMBAC Insured), 5.25%, due 12/15/20
 
660
 
   
500
 
Ser. 2014-PP, 5.00%, due 6/15/19
 
506
 
   
750
 
New Jersey Econ. Dev. Au. Spec. Fac. Rev. Ref. (Port Newark Container Term. LLC Proj.), Ser. 2017, 5.00%, due 10/1/47
 
789
 
   
250
 
New Jersey Higher Ed. Assist. Au. Rev. (Std. Loan Rev.), Ser. 2017-1A, 5.00%, due 12/1/25
 
286
 
   
750
 
New Jersey Higher Ed. Assist. Au. Rev. Ref. (Std. Loan Rev.), Ser. 2018-B, 5.00%, due 12/1/27
 
873
 
   
1,265
 
New Jersey Hlth. Care Facs. Fin. Au. Contract Rev. Ref. (Hosp. Asset Trans. Prog.), Ser. 2017, 5.00%, due 10/1/26
 
1,433
 
   
720
 
New Jersey Trans. Trust Fund Au. Rev., Ser. 2003-B-4, 5.25%, due 12/15/19
 
740
 
   
600
 
New Jersey Trans. Trust Fund Au. Rev. (Federal Hwy. Reimbursement Notes), Ser. 2016-A-1, 5.00%, due 6/15/19
 
606
 
 
6,770
 
New Mexico 0.6%
   
500
 
Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr., Lien Rev. (Gross Receipts Tax Increment Bonds), Ser. 2015, 5.25%, due 5/1/25
 
496
(b)(c)
 
New York 5.4%
   
200
 
Build NYC Res. Corp. Rev., Ser. 2014, 5.25%, due 11/1/34
 
203
 
   
400
 
New York St. Dorm. Au. Rev. Non St. Supported Debt (St. Josephs College), Ser. 2010, 5.25%, due 7/1/25
 
401
 
   
300
 
New York St. Dorm. Au. Rev. Ref. Non St. Supported Debt (Montefiore Obligated Group), Ser. 2018-A, 4.00%, due 8/1/37
 
301
 
   
900
 
New York St. Dorm. Au. Rev. Ref. Non St. Supported Debt (Orange Reg. Med. Ctr.), Ser. 2017, 5.00%, due 12/1/22
 
984
(b)
   
500
 
New York St. Trans. Dev. Corp. Spec. Fac. Rev. (American Airlines, Inc., John F Kennedy Int'l Arpt. Proj.), Ser. 2016, 5.00%, due 8/1/31
 
518
 
   
1,000
 
New York St. Trans. Dev. Corp. Spec. Fac. Rev. (Delta Airlines, Inc.-LaGuardia Arpt. Term. C&D Redev.), Ser. 2018, 5.00%, due 1/1/28
 
1,162
 
 
 
500
 
Syracuse IDA Pilot Rev. Ref. (Carousel Ctr. Proj.), Ser. 2016-A, 5.00%, due 1/1/31
 
548
 
   
400
 
Westchester Co. Local Dev. Corp. Rev. Ref. (Wartburg Sr. Hsg. Proj.), Ser. 2015-A, 5.00%, due 6/1/30
 
402
(b)
 
4,519
 
North Carolina 0.7%
   
250
 
North Carolina Med. Care Commission Hlth. Care Fac. First Mtge. Rev. (Lutheran Svcs. for Aging, Inc.), Ser. 2012-A, 5.00%, due 3/1/37
 
259
 
   
345
 
North Carolina Med. Care Commission Retirement Facs. Ref. Rev. (United Methodist Retirement Homes), Ser. 2016-A, 5.00%, due 10/1/35
 
366
 
 
625
 
North Dakota 0.6%
   
500
 
Grand Forks Co. Solid Waste Disp. Rev. (Green Bond-Red River Biorefinery, LLC Proj.), Ser. 2018, 5.38%, due 9/15/38
 
467
(b)
 
Ohio 4.6%
   
3,000
 
Buckeye Tobacco Settlement Fin. Au. Asset-Backed Sr. Rev. (Turbo), Ser. 2007-A-2, 5.88%, due 6/1/30
 
2,801
 
   
1,000
 
Ohio St. Air Quality Dev. Au. Exempt Facs. Rev. (Pratt Paper LLC Proj.), Ser. 2017, 4.50%, due 1/15/48
 
1,007
(b)
 
3,808
 
Oklahoma 1.0%
   
725
 
Oklahoma St. Dev. Fin. Au. Hlth. Sys. Rev. (OU Medicine Proj.), Ser. 2018-B, 5.50%, due 8/15/57
 
804
 
 
Oregon 0.6%
   
490
 
Western Generation Agcy. Rev. (Wauna Cogeneration Proj.), Ser. 2006-A, 5.00%, due 1/1/21
 
487
 
 
Pennsylvania 3.7%
   
500
 
Commonwealth Fin. Au. Tobacco Master Settlement Payment Rev. (Tobacco Master Settlement Payment Bonds), Ser. 2018, 5.00%, due 6/1/20
 
520
 
       
Lancaster Co. Hosp. Au. Rev. (Brethren Village Proj.)
     
   
250
 
Ser. 2015, 5.25%, due 7/1/35
 
262
 
   
150
 
Ser. 2015, 5.50%, due 7/1/45
 
158
 
   
150
 
Latrobe Ind. Dev. Au. (St. Vincent College Proj.), Ser. 2013, 5.00%, due 5/1/43
 
155
 
   
200
 
Luzerne Co. G. O. Ref., Ser. 2017-B, (AGM Insured), 5.00%, due 12/15/27
 
233
 
   
750
 
Pennsylvania Econ. Dev. Fin. Au. Rev. (Bridges Finco LP), Ser. 2016-C, 5.00%, due 12/31/38
 
808
 
   
400
 
Pennsylvania Econ. Dev. Fin. Au. Rev. Ref. (Tapestry Moon Sr. Hsg. Proj.), Ser. 2018-A, 6.75%, due 12/1/53
 
386
(b)
   
500
 
Pennsylvania St. Turnpike Commission Turnpike Rev., Subser. 2017-B-1, 5.25%, due 6/1/47
 
552
 
 
3,074
 
Rhode Island 2.9%
       
Rhode Island St. Hsg. & Mtge. Fin. Corp. Ref. Rev.
     
   
255
 
Ser. 2016-1-C, 2.75%, due 4/1/25
 
256
 
   
275
 
Ser. 2016-1-C, 2.85%, due 10/1/25
 
277
 
   
280
 
Ser. 2016-1-C, 2.95%, due 4/1/26
 
281
 
   
185
 
Ser. 2016-1-C, 3.00%, due 10/1/26
 
188
 
       
Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.)
     
   
665
 
Ser. 2013-A, 3.25%, due 12/1/22
 
672
 
   
675
 
Ser. 2017-A, 5.00%, due 12/1/24
 
756
 
 
2,430
 
South Carolina 2.2%
   
500
 
Lancaster Co. Assessment Rev. Ref. (Walnut Creek Imp. Dist.), Ser. 2016-A-1, 5.00%, due 12/1/31
 
512
 
 
 
500
 
South Carolina Jobs Econ. Dev. Au. Econ. Dev. Rev. (River Park Sr. Living Proj.), Ser. 2017-A, 7.75%, due 10/1/57
 
469
 
   
325
 
South Carolina Jobs Econ. Dev. Au. Solid Waste Disp. Rev. (Green Bond-Jasper Pellets LLC, Proj.), Ser. 2018-A, 7.00%, due 11/1/38
 
320
(b)
   
500
 
South Carolina Jobs Econ. Dev. Au. Solid Waste Disp. Rev. (Repower South Berkeley LLC Proj.), Ser. 2017, 6.25%, due 2/1/45
 
502
(b)
 
1,803
 
Tennessee 0.8%
   
800
 
Bristol IDB Sales Tax Rev., Ser. 2016-B, 0.00%, due 12/1/21
 
701
(b)
 
Texas 9.8%
   
750
 
Anson Ed. Facs. Corp. Ed. Rev. (Arlington Classics Academy), Ser. 2016-A, 5.00%, due 8/15/45
 
781
 
   
400
 
Fort Bend Co. Ind. Dev. Corp. Rev. (NRG Energy, Inc.), Ser. 2012-A, 4.75%, due 5/1/38
 
408
 
   
400
 
Houston Arpt. Sys. Rev., Ser. 2015-B-1, 5.00%, due 7/15/30
 
434
 
   
3,025
 
Lower Neches Valley Au. Ind. Dev. Corp. Rev. Ref. (Exxon Mobil Proj.), Ser. 2001-A, 1.60%, due 11/1/29
 
3,025
(a)
   
300
 
Mission Econ. Dev. Corp. Wtr. Supply Rev. (Green Bond-Env. Wtr. Minerals Proj.), Ser. 2015, 7.75%, due 1/1/45
 
240
(b)(c)(e)
   
750
 
New Hope Cultural Ed. Facs. Fin. Corp. Retirement Fac. Rev. Ref. (Carillon Life Care Comm. Proj.), Ser. 2016, 5.00%, due 7/1/36
 
759
 
   
250
 
New Hope Cultural Ed. Facs. Fin. Corp. Sr. Living Rev. (Bridgemoor Plano Proj.), Ser. 2018-A, 7.25%, due 12/1/53
 
251
 
   
500
 
New Hope Cultural Ed. Facs. Fin. Corp. Sr. Living Rev. (Cardinal Bay, Inc. Village On The Park Carriage), Ser. 2016-C, 5.75%, due 7/1/51
 
534
 
   
500
 
New Hope Cultural Ed. Facs. Fin. Corp. Std. Hsg. Rev. (NCCD-College Sta. Properties LLC), Ser. 2015-A, 5.00%, due 7/1/47
 
449
 
   
500
 
Texas St. Private Activity Bond Surface Trans. Corp. Rev. (Sr. Lien-Blueridge Trans. Group LLC), Ser. 2016, 5.00%, due 12/31/40
 
534
 
   
750
 
Texas St. Trans. Commission Turnpike Sys. Rev. Ref., Ser. 2015-C, 5.00%, due 8/15/34
 
809
 
 
8,224
 
Utah 0.6%
   
500
 
Utah Charter Sch. Fin. Au. Rev. (Spectrum Academy Proj.), Ser. 2015, 6.00%, due 4/15/45
 
508
(b)
 
Vermont 1.9%
   
500
 
Vermont Econ. Dev. Au. Solid Waste Disp. Rev. (Casella Waste Sys., Inc.), Ser. 2013, 4.63%, due 4/1/36 Putable 4/3/28
 
500
(b)
       
Vermont Std. Assist. Corp. Ed. Loan Rev.
     
   
705
 
Ser. 2013-A, 3.90%, due 6/15/22
 
732
 
   
310
 
Ser. 2015-A, 4.13%, due 6/15/28
 
320
 
 
1,552
 
Virginia 0.7%
   
400
 
Embrey Mill Comm. Dev Au. Spec. Assessment Rev., Ser. 2015, 5.30%, due 3/1/35
 
401
(b)
   
200
 
Virginia College Bldg. Au. Ed. Facs. Rev. (Green Bonds-Marymount Univ. Proj.), Ser. 2015-B, 5.25%, due 7/1/35
 
211
(b)
 
612
 
Washington 1.3%
   
500
 
Washington St. Hlth. Care Fac. Au. Rev. Ref. (Virginia Mason Med. Ctr.), Ser. 2017, 5.00%, due 8/15/26
 
569
 
   
500
 
Washington St. Hsg. Fin. Commission Rev. Ref. (Bayview Manor Homes), Ser. 2016-A, 5.00%, due 7/1/46
 
507
(b)
 
1,076
 
West Virginia 1.9%
 
 
780
 
West Virginia Econ. Dev. Au. Energy Rev. Ref. (Morgantown Energy Assoc. Proj.), Ser. 2016, 2.88%, due 12/15/26
 
753
 
       
West Virginia Hosp. Fin. Au. Rev. Ref. (Cabell Huntington Hosp. Obligated Group)
     
   
400
 
Ser. 2018-A, 5.00%, due 1/1/43
 
438
 
   
425
 
Ser. 2018-A, 4.13%, due 1/1/47
 
412
 
 
1,603
 
Wisconsin 3.2%
   
400
 
Pub. Fin. Au. Ed. Rev. (Pine Lake Preparatory), Ser. 2015, 4.95%, due 3/1/30
 
410
(b)
   
300
 
Pub. Fin. Au. Ed. Rev. (Research Triangle High Sch. Proj.), Ser. 2015, 5.38%, due 7/1/35
 
298
(b)
   
750
 
Pub. Fin. Au. Exempt Facs. Ref. Rev. (Celanese Proj.), Ser. 2016-C, 4.30%, due 11/1/30
 
760
 
   
450
 
Pub. Fin. Au. Multi-Family Hsg. Rev. (FFAH North Carolina & Missouri  Portfolio), Ser. 2015-A, 4.75%, due 12/1/35
 
454
 
   
400
 
Pub. Fin. Au. Rev. (Goodwill Industries of So. Nevada Proj.), Ser. 2015-A, 5.50%, due 12/1/35
 
280
(c)(e)
   
500
 
Pub. Fin. Au. Rev. (Sr.-Maryland Proton Treatment Ctr. LLC), Ser. 2018-A-1, 6.38%, due 1/1/48
 
512
(b)
 
2,714
 
 
Total Investments 99.1% (Cost $82,813)
82,707
 
       
 
Other Assets Less Liabilities 0.9%
747
 
       
 
Net Assets 100.0%
$83,454
 
 
(a)
 
Variable rate demand obligation where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate generally resets daily or weekly and is determined by the remarketing agent. The rate shown represents the rate in effect at January 31, 2019.
(b)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $19,555,000, which represents 23.4% of net assets of the Fund. Securities denoted with (b) but without (c) have been deemed by the investment manager to be liquid.
(c)
 
Illiquid security.
(d)
 
Currently a zero coupon security; will convert to 6.04% on August 1, 2026.
(e)
 
Defaulted security.
 
 
See Notes to Schedule of Investments

Schedule of Investments Municipal High Income Fund^
(Unaudited) (cont’d)

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
Municipal Notes(a)
 
$
   
$
82,707
   
$
   
$
82,707
 
Total Investments
 
$
   
$
82,707
   
$
   
$
82,707
 

(a) The Schedule of Investments provides a categorization by state/territory for the portfolio.

^  A balance indicated with a “-“, either reflects a zero balance or an amount that rounds to less than 1.
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Municipal Intermediate Bond Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
   
VALUE
(000's omitted)
   
(000's omitted)
 
Municipal Notes 99.1%
 
Alaska 1.1%
   
2,000
 
Alaska St. Hsg. Fin. Corp. Ref. Rev. (Cap. Proj. Bonds II), Ser. 2014-D, 5.00%, due 12/1/25
$
2,316
 
Arizona 0.8%
   
500
 
Maricopa Co. Ind. Dev. Au. Rev. (Banner Hlth. Obligated Group), Ser. 2017-C, 5.00%, due 1/1/48 Putable 10/18/24
 
576
 
   
950
 
Maricopa Co. Ind. Dev. Au. Sr. Living Fac. Rev. Ref. (Christian Care Retirement Apts., Inc. Proj.), Ser. 2016-A, 5.00%, due 1/1/24
 
1,075
 
 
1,651
 
California 9.2%
   
2,000
 
California Pub. Works Board Lease Rev. Ref., Ser. 2017-B, 5.00%, due 10/1/26
 
2,408
 
   
2,055
 
California Statewide Communities Dev. Au. PCR (So. California Edison Co.), Ser. 2006, 1.90%, due 4/1/28 Putable 4/1/20
 
2,038
 
   
250
 
California Statewide Communities Dev. Au. Rev. (Henry Mayo Newhall Mem. Hosp.), Ser. 2014-A, (AGM Insured), 5.00%, due 10/1/28
 
281
 
   
1,665
 
Contra Costa Co. Redev. Agcy. Successor Agcy. Tax Allocation Ref., Ser. 2017-A, (BAM Insured), 5.00%, due 8/1/32
 
1,973
 
   
7,000
 
Deutsche Bank Spears/Lifers Trust Rev. (Starwood Comm. Dev. Au.), Ser. 2017-DBE-7006, (LOC: Deutsche Bank AG), 1.88%, due 4/1/52
 
7,000
(a)(b)
       
Fresno Joint Pwr. Fin. Au. Lease Rev. Ref. (Master Lease Proj.)
     
   
1,300
 
Ser. 2017-A, (AGM Insured), 5.00%, due 4/1/27
 
1,555
 
   
400
 
Ser. 2017-A, (AGM Insured), 5.00%, due 4/1/32
 
463
 
   
1,500
 
Los Alamitos Unified Sch. Dist. G.O. (Cap. Appreciation Bonds Sch. Facs. Dist. No. 1-2008 Election), Ser. 2013-E, 0.00%, due 8/1/43
 
1,290
(c)
   
560
 
Placer Co. Wtr. Agcy. Cert. of Participation Ref. Rev., Ser. 2016, 4.00%, due 7/1/30
 
621
 
       
San Marcos Unified Sch. Dist. G.O. Cap. Appreciation (Election 2010)
     
   
740
 
Ser. 2012-B, 0.00%, due 8/1/26
 
616
 
   
645
 
Ser. 2012-B, 0.00%, due 8/1/27
 
516
 
 
18,761
 
Colorado 0.7%
   
945
 
Colorado St. Ed. & Cultural Facs. Au. Rev. Ref. (Alexander Dawson Sch. Proj.), Ser. 2016, 5.00%, due 5/15/25
 
1,094
 
   
300
 
Westminster Cert. of Participation Ref., Ser. 2013, 4.00%, due 12/1/25
 
326
 
 
1,420
 
Connecticut 2.6%
   
3,000
 
Connecticut St. G.O., Ser. 2018-C, 4.00%, due 6/15/24
 
3,210
 
   
2,000
 
Connecticut St. Hlth. & Ed. Facs. Au. Rev. (Yale Univ.), Ser. 1997-T-2, 1.65%, due 7/1/29 Putable 2/3/20
 
1,998
 
 
5,208
 
Delaware 0.6%
       
Delaware St. Hlth. Facs. Au. Rev. (Beebe Med. Ctr.)
     
   
610
 
Ser. 2018, 5.00%, due 6/1/27
 
700
 
   
500
 
Ser. 2018, 5.00%, due 6/1/28
 
575
 
 
1,275
 
District of Columbia 0.4%
       
Dist. of Columbia Rev. (Assoc. of American Med. College)
     
   
460
 
Ser. 2011-A, 5.00%, due 10/1/21
 
496
 
   
350
 
Ser. 2011-A, 5.00%, due 10/1/22
 
386
 
 
882
 
Florida 10.8%
   
700
 
Cape Coral Spec. Obligation Ref. Rev., Ser. 2015, 4.00%, due 10/1/30
 
754
 
 
 
1,000
 
CityPlace Comm. Dev. Dist. Spec. Assessment Ref. Rev., Ser. 2012, 5.00%, due 5/1/26
 
1,120
 
   
1,170
 
Florida St. Muni. Loan Council Rev., Ser. 2012, (AGM Insured), 4.00%, due 5/1/19
 
1,176
 
   
340
 
JEA Elec. Sys. Rev., Ser. 2013-A, 5.00%, due 10/1/29 Pre-Refunded 10/1/22
 
378
 
   
7,700
 
Martin Co. PCR Ref. (Florida Pwr. & Lt. Co. Proj.), Ser. 2000, 1.70%, due 7/15/22
 
7,700
(b)
   
2,000
 
Miami-Dade Co. G.O. Ref., Ser. 2015-B, 4.00%, due 7/1/32
 
2,110
 
   
3,000
 
Miami-Dade Co. Wtr. & Swr. Sys. Rev. Ref., Ser. 2017-B, 5.00%, due 10/1/29
 
3,609
 
       
Port St. Lucie Research Facs. Rev. (Oregon Hlth. and Science Univ. Vaccine and Gene Therapy Institute Florida Corp. Proj.)
     
   
1,155
 
Ser. 2010, 5.00%, due 5/1/22 Pre-Refunded 5/1/20
 
1,199
 
   
1,480
 
Ser. 2010, 5.00%, due 5/1/23 Pre-Refunded 5/1/20
 
1,537
 
   
2,040
 
Seminole Co. Sales Tax Rev. Ref., Ser. 2006-B,  (National Public Finance Guarantee Corp. Insured), 5.25%, due 10/1/23
 
2,352
 
 
21,935
 
Georgia 2.2%
   
1,645
 
Bulloch Co. Dev. Au. Std. Hsg. Rev. Ref. (Georgia So. Univ. Hsg. Foundation One LLC), Ser. 2012, (AGM Insured), 5.00%, due 8/1/22
 
1,809
 
   
1,000
 
Forsyth Co. G.O. Ref., Ser. 2015-B, 5.00%, due 3/1/27
 
1,176
 
   
500
 
Monroe Co. Dev. Au. PCR Rev. (Georgia Pwr. Co. Plant-Scherer), Ser. 1995-1, 2.00%, due 7/1/25 Putable 6/13/19
 
500
 
       
Private Colleges & Univ. Au. Rev. (Savannah College of Art & Design, Inc.)
     
   
290
 
Ser. 2014, 5.00%, due 4/1/22
 
316
 
   
540
 
Ser. 2014, 5.00%, due 4/1/25
 
611
 
 
4,412
 
Illinois 7.2%
   
1,400
 
Cook Co. Sch. Dist. Number 144 Prairie Hills G.O. (Ltd. Sch.), Ser. 2010-A, (AGM Insured), 5.25%, due 12/1/27 Pre-Refunded 12/1/20
 
1,487
 
   
1,000
 
Cook Co. Sch. Dist. Number 83 G.O. (Ref. Sch.), Ser. 2011-D, 5.13%, due 12/1/30 Pre-Refunded 12/1/21
 
1,093
 
   
750
 
Dekalb Kane LaSalle Cos. Comm. College Dist. Number 523 G.O., Ser. 2011-B, 0.00%, due 2/1/25
 
567
 
   
1,085
 
Illinois Fin. Au. Rev. (LOC Gov't Prog.-Brookfield Lagrange Park Sch. Dist. #95 Proj.), Ser. 2018, 4.00%, due 12/1/38
 
1,109
 
       
Illinois Fin. Au. Rev. (LOC Gov't Prog.-E Prairie Sch. Dist. # 73 Proj.)
     
   
1,065
 
Ser. 2018, (BAM Insured), 5.00%, due 12/1/29
 
1,255
 
   
485
 
Ser. 2018, (BAM Insured), 4.00%, due 12/1/42
 
490
 
       
Illinois St. G.O.
     
   
1,500
 
Ser. 2017-A, 5.00%, due 12/1/35
 
1,563
 
   
250
 
Ser. 2017-D, 5.00%, due 11/1/26
 
271
 
   
3,000
 
Ser. 2017-D, 5.00%, due 11/1/28
 
3,240
 
   
125
 
Illinois St. G.O. Ref., Ser. 2010, 5.00%, due 1/1/20
 
128
 
   
500
 
Sales Tax Securitization Corp. Rev. Ref., Ser. 2017-A, 5.00%, due 1/1/28
 
571
 
       
So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.)
     
   
500
 
Ser. 2014-A1, (BAM Insured), 4.00%, due 2/15/26
 
530
 
   
500
 
Ser. 2014-A1, (BAM Insured), 5.00%, due 2/15/27
 
551
 
       
Springfield G.O.
     
   
950
 
Ser. 2014, 4.25%, due 12/1/27
 
1,012
 
   
665
 
Ser. 2014, 5.00%, due 12/1/28
 
752
 
 
14,619
 
Indiana 0.6%
   
645
 
Indiana Hlth. Fac. Fin. Au. Rev. (Ascension Hlth. Sub. Credit), Ser. 2005-A-1, 2.80%, due 11/1/27 Putable 8/1/19
 
648
 
   
500
 
Indiana St. Muni. Pwr. Agcy. Ref. Rev., Ser. 2016-C, 5.00%, due 1/1/27
 
594
 
 
1,242
 
Iowa 0.3%
 
 
640
 
Iowa St. Fin. Au. Single Family Mtge. Rev. (Non Ace-Mtge.-Backed Sec. Prog.), Ser. 2017-C, (GNMA/FNMA/FHLMC Insured), 2.30%, due 1/1/26
 
638
 
 
Kansas 0.8%
       
Wichita City Sales Tax. Spec. Oblig. Rev. (River Dist. Stadium Star Bond Proj.)
     
   
305
 
Ser. 2018, 5.00%, due 9/1/25
 
357
 
   
1,000
 
Ser. 2018, 5.00%, due 9/1/27
 
1,202
 
 
1,559
 
Kentucky 1.7%
   
2,000
 
Carroll Co. PCR Rev. ref. (KY Utils. Co. Proj.), Ser. 2016-A, 1.05%, due 9/1/42 Putable 9/1/19
 
1,989
 
   
1,470
 
Laurel Co. Judicial Ctr. Pub. Properties Corp. Ref. Rev. (Justice Center Proj.), Ser. 2015, 4.00%, due 3/1/24
 
1,588
 
 
3,577
 
Louisiana 0.1%
   
145
 
Monroe Sales & Use Tax Ref. Rev., Ser. 2012, 4.00%, due 7/1/23
 
152
 
 
Maryland 7.9%
   
2,645
 
Anne Arundel Co. G.O., Ser. 2018, 5.00%, due 10/1/23
 
3,024
 
   
4,000
 
Charles Co. G.O. Ref. (Consol Pub. Imp.), Ser. 2017, 5.00%, due 10/1/23
 
4,575
 
   
2,500
 
Maryland St. Dept. of Trans. Ref. Rev. Ref., Ser. 2016, 4.00%, due 9/1/25
 
2,820
 
   
3,000
 
Maryland St. G.O. Ref., Ser. 2017-C, 5.00%, due 8/1/23
 
3,418
 
   
2,000
 
Montgomery Co. G.O., Ser. 2014-A, 5.00%, due 11/1/24
 
2,344
 
 
16,181
 
Massachusetts 0.4%
   
230
 
Boston Wtr. & Swr. Commission Rev., Ser. 1993-A, (National Public Finance Guarantee Corp. Insured), 5.25%, due 11/1/19
 
236
 
   
500
 
Massachusetts St. Dev. Fin. Agcy. Rev. (CareGroup Obligated Group), Ser. 2018-J2, 5.00%, due 7/1/53
 
539
 
 
775
 
Michigan 1.4%
   
1,000
 
Detroit Downtown Dev. Au. Tax Increment Rev. Ref. (Catalyst Dev. Proj.), Ser. 2018-A, (AGM Insured), 5.00%, due 7/1/29
 
1,099
 
   
1,830
 
Michigan St. Hsg. Dev. Au. Rev., Ser. 2016-B, 2.30%, due 6/1/25
 
1,834
 
 
2,933
 
Minnesota 1.8%
   
550
 
Minnesota St. G.O., Ser. 2015-A, 5.00%, due 8/1/29
 
645
 
   
1,080
 
Rochester G.O. (Lodging Tax), Ser. 2015-A, 5.00%, due 2/1/23
 
1,216
 
   
1,000
 
St. Paul Hsg. & Redev. Au. Hlth. Care Rev. Ref. (Fairview Hlth. Svcs. Obligated Group), Ser. 2017-A, 4.00%, due 11/15/43
 
1,004
 
   
755
 
Willmar G.O. Ref. (Rice Mem. Hosp. Proj.), Ser. 2012-A, 5.00%, due 2/1/19
 
755
 
 
3,620
 
Mississippi 3.2%
   
1,250
 
Mississippi Dev. Bank Spec. Oblig. (Madison Co. Hwy. Proj.), Ser. 2013-C, 5.00%, due 1/1/27
 
1,472
 
   
200
 
Mississippi St. Bus. Fin. Commission Gulf Opportunity Zone Rev. (Chevron U.S.A., Inc. Proj.), Ser. 2010-G, 1.60%, due 11/1/35
 
200
(b)
   
1,325
 
Mississippi St. G.O. Ref., Ser. 2015-C, 5.00%, due 10/1/26
 
1,569
 
   
2,100
 
Warren Co. Gulf Opportunity Zone Rev. Ref. (Int'l Paper Co. Proj.), Ser. 2018, 2.90%, due 9/1/32 Putable 9/1/23
 
2,106
 
   
1,000
 
West Rankin Utils. Au. Rev., Ser. 2018, (AGM Insured), 5.00%, due 1/1/43
 
1,106
 
 
6,453
 
Missouri 2.0%
 
 
2,000
 
Missouri St. Hlth. & Ed. Facs. Au. Hlth. Fac. Rev. Ref. (SSM Hlth. Care Oblig.), Ser. 2018-C, 5.00%, due 6/1/36 Putable 6/1/23
 
2,193
 
       
Missouri St. Hsg. Dev. Commission Single Family Mtge. Rev. (Non-AMT Spec. Homeownership Loan Prog.)
     
   
865
 
Ser. 2014-A,(GNMA/FNMA/FHLMC Insured), 3.80%, due 11/1/34
 
877
 
   
1,015
 
Ser. 2014-A,(GNMA/FNMA/FHLMC Insured), 4.00%, due 11/1/39
 
1,026
 
 
4,096
 
Nevada 0.4%
   
750
 
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23 Pre-Refunded 6/15/19
 
766
 
 
New Jersey 4.3%
   
150
 
Jersey City G.O. Ref., Ser. 2012, (AGM Insured), 4.00%, due 9/1/19
 
152
 
   
1,000
 
New Jersey Econ. Dev. Au. Rev., Ser. 2017-DDD, 5.00%, due 6/15/42
 
1,046
 
   
400
 
New Jersey Hlth. Care Fac. Fin. Au. Dept. Human Svc. Rev. (Greystone Park Psychiatric Hosp. Proj.), Ser. 2013-B, 5.00%, due 9/15/20
 
417
 
   
1,130
 
New Jersey Hlth. Care Fac. Fin. Au. Rev. (Inspira Hlth. Obligated Group), Ser. 2017-A, 5.00%, due 7/1/29
 
1,324
 
   
1,000
 
New Jersey Hlth. Care Facs. Fin. Au. Contract Rev. Ref. (Princeton Hlth. Care Sys.), Ser. 2017, 5.00%, due 10/1/26
 
1,133
 
   
1,000
 
New Jersey St. Trans. Trust Fund Au. Trans. Sys. Rev., Ser. 2006-A, 5.25%, due 12/15/19
 
1,028
 
   
2,000
 
New Jersey St. Trans. Trust Fund Au. Trans. Sys. Rev. Ref., Ser. 2018-A, 5.00%, due 12/15/28
 
2,273
 
   
1,000
 
New Jersey Trans. Trust Fund Au. Rev. (Federal Hwy. Reimbursement Notes), Ser. 2016-A-1, 5.00%, due 6/15/19
 
1,011
 
   
295
 
Union Co. Imp. Au. Rev. (Correctional Fac. Proj.), Ser. 2013, 4.00%, due 6/15/23
 
320
 
 
8,704
 
New York 5.6%
   
390
 
Albany Cap. Res. Corp. Ref. Rev. (Albany College of Pharmacy & Hlth. Sciences), Ser. 2014-A, 5.00%, due 12/1/26
 
440
 
   
650
 
Albany Co. G.O., Ser. 2012-B, 4.00%, due 11/1/22
 
675
 
   
1,140
 
Hempstead Town Local Dev. Corp. Rev. Ref. (Molloy College Proj.), Ser. 2017, 5.00%, due 7/1/29
 
1,299
 
       
Long Beach, G.O.
     
   
335
 
Ser. 2014-A, (BAM Insured), 4.00%, due 11/15/21
 
353
 
   
520
 
Ser. 2014-A, (BAM Insured), 4.00%, due 11/15/23
 
562
 
   
1,000
 
MTA Hudson Rail Yards Trust Oblig. Rev., Ser. 2016-A, 5.00%, due 11/15/46
 
1,018
 
   
1,950
 
New York City Transitional Fin. Au. Rev. (Future Tax Secured), Subser. 2016-A-1, 4.00%, due 5/1/31
 
2,109
 
   
800
 
New York St. Dorm. Au. Personal Income Tax Rev., Ser. 2014-C, 5.00%, due 3/15/25
 
923
 
   
125
 
New York St. Dorm. Au. Personal Income Tax Rev. Ref., Ser. 2015-E, 5.00%, due 3/15/26
 
148
 
   
900
 
New York St. Dorm. Au. Sales Tax Rev., Ser. 2013-A, 5.00%, due 3/15/28
 
1,003
 
   
775
 
Niagara Falls G.O. Ref., Ser. 2016, 4.00%, due 5/15/19
 
779
 
   
1,000
 
Oneida Co. G.O., Ser. 2016, (BAM Insured), 2.00%, due 5/15/19
 
1,001
 
   
1,000
 
Utils. Debt Securitization Au. Rev., Ser. 2013-TE, 5.00%, due 12/15/28
 
1,138
 
 
11,448
 
North Carolina 0.3%
   
650
 
North Carolina St. Cap. Imp. Ltd. Oblig. (Annual Appropriation), Ser. 2009-A, 5.00%, due 5/1/19
 
655
 
 
Ohio 2.7%
       
Ohio St. G.O.
     
 
 
4,000
 
Ser. 2018-A, 5.00%, due 2/1/24
 
4,611
 
   
850
 
Ser. 2018-A, 5.00%, due 6/15/24
 
988
 
 
5,599
 
Oklahoma 2.7%
   
2,000
 
Carter Co. Pub. Fac. Au. Ed. Fac. Lease Rev., Ser. 2018, 5.00%, due 9/1/29
 
2,336
 
   
1,000
 
Cleveland Co. Ed. Facs. Au. Lease Rev. (Moore Pub. Sch. Proj.), Ser. 2016, 5.00%, due 6/1/19
 
1,011
 
   
675
 
Cleveland Co. Ed. Facs. Au. Lease Rev. Ref. (Noble Pub. Sch. Proj.), Ser. 2017, 5.00%, due 9/1/31
 
779
 
   
1,350
 
Tulsa Co. Independent Sch. Dist. No. 9 Union Board of Ed. G.O., Ser. 2016, 1.50%, due 4/1/19
 
1,349
 
 
5,475
 
Oregon 0.8%
   
1,430
 
Portland Comm. College Dist. G.O., Ser. 2013, 5.00%, due 6/15/23
 
1,624
 
 
Pennsylvania 7.0%
       
Berks Co. Ind. Dev. Au. Hlth. Sys. Rev. Ref. (Tower Hlth. Proj.)
     
   
2,000
 
Ser. 2017, 5.00%, due 11/1/28
 
2,327
 
   
1,000
 
Ser. 2017, 5.00%, due 11/1/29
 
1,155
 
       
Lackawanna Co. Ind. Dev. Au. Rev. Ref. (Univ. of Scranton)
     
   
940
 
Ser. 2017, 5.00%, due 11/1/28
 
1,094
 
   
600
 
Ser. 2017, 5.00%, due 11/1/29
 
694
 
   
500
 
Ser. 2017, 5.00%, due 11/1/30
 
574
 
       
Luzerne Co. G. O. Ref.
     
   
500
 
Ser. 2017-A, (AGM Insured), 5.00%, due 12/15/25
 
574
 
   
500
 
Ser. 2017-A, (AGM Insured), 5.00%, due 12/15/26
 
579
 
   
400
 
Ser. 2017-A, (AGM Insured), 5.00%, due 12/15/27
 
465
 
   
300
 
Ser. 2017-B, (AGM Insured), 5.00%, due 12/15/25
 
344
 
   
170
 
Ser. 2017-B, (AGM Insured), 5.00%, due 12/15/26
 
197
 
       
Luzerne Co. Ind. Dev. Au. Lease Rev. Ref. Gtd.
     
   
550
 
Ser. 2017, (AGM Insured), 5.00%, due 12/15/25
 
624
 
   
525
 
Ser. 2017, (AGM Insured), 5.00%, due 12/15/26
 
593
 
   
250
 
Ser. 2017, (AGM Insured), 5.00%, due 12/15/27
 
282
 
   
1,000
 
Pennsylvania St. G.O., Ser. 2015, 5.00%, due 3/15/29
 
1,145
 
   
225
 
Pennsylvania St. Ref. G.O., Ser. 2016, 5.00%, due 9/15/26
 
266
 
   
2,065
 
Pennsylvania St. Turnpike Commission Rev. Ref., Ser. 2016, 5.00%, due 6/1/27
 
2,365
 
   
750
 
Southeastern Trans. Au. Rev. Ref., Ser. 2017, 5.00%, due 3/1/28
 
909
 
 
14,187
 
Rhode Island 2.2%
   
500
 
Providence Redev. Agcy. Ref. Rev., Ser. 2015-A, 5.00%, due 4/1/22
 
539
 
       
Rhode Island Commerce Corp. Spec. Fac. Rev. Ref. (1st Lien - Rhode Island Arpt. Corp. Int'l Fac. Proj.)
     
   
1,170
 
Ser. 2018, 5.00%, due 7/1/28
 
1,374
 
   
645
 
Ser. 2018, (BAM-TCRS Insured), 5.00%, due 7/1/34
 
733
 
       
Rhode Island St. Hlth. & Ed. Bldg. Corp. Pub. Sch. Rev. Ref.
     
   
500
 
Ser. 2017-A, (AGM Insured), 5.00%, due 5/15/24
 
566
 
   
400
 
Ser. 2017-A, (AGM Insured), 5.00%, due 5/15/25
 
460
 
   
625
 
Rhode Island St. Hlth. & Ed. Bldg. Corp. Rev. (Providence Pub. Sch. Prog.), Ser. 2013-A, 5.00%, due 5/15/22
 
683
 
   
200
 
Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.), Ser. 2010-A, 4.40%, due 12/1/19
 
200
 
 
4,555
 
South Carolina 1.1%
 
 
2,000
 
South Carolina St. Pub. Svc. Au. Oblig. Rev. Ref., Ser. 2014-C, 5.00%, due 12/1/28
 
2,208
 
 
Tennessee 0.4%
   
700
 
Greeneville Hlth. & Ed. Facs. Board Hosp. Rev. Ref. (Ballad Hlth. Obligated Group), Ser. 2018-A, 5.00%, due 7/1/32
 
755
 
 
Texas 7.8%
   
1,650
 
Bexar Co. G.O. (Cert. Oblig.), Ser. 2013-B, 5.00%, due 6/15/22
 
1,828
 
   
2,700
 
Dallas Co. G.O. (Cert. Oblig.), Ser. 2016, 5.00%, due 8/15/23
 
3,067
 
   
400
 
Gulf Coast Waste Disp. Au. Rev. (Bayport Area Sys.), Ser. 2013, (AGM Insured), 3.00%, due 10/1/26
 
409
 
   
800
 
Houston Wtr. & Swr. Sys. Jr. Lien Ref. Rev., Ser. 2001-B, (National Public Finance Guarantee Corp. Insured), 5.50%, due 12/1/24
 
931
 
   
1,250
 
La Joya Independent Sch. Dist. Ref. G.O., Ser. 2013, (PSF-GTD Insured), 5.00%, due 2/15/33
 
1,472
 
   
1,250
 
Laredo Independent Sch. Dist. G.O. (Sch. Bldg.), Ser. 2013, 5.00%, due 8/1/27
 
1,397
 
   
100
 
Lower Neches Valley Au. Ind. Dev. Corp. Rev. Ref. (Exxon Mobil Proj.), Ser. 2001-A, 1.60%, due 11/1/29
 
100
(b)
   
500
 
McKinney G.O., Ser. 2014, 5.00%, due 8/15/24
 
581
 
   
1,430
 
Midlothian Ref. G.O., Ser. 2016, 2.00%, due 8/15/19
 
1,433
 
       
New Hope Cultural Ed. Facs. Fin. Corp. Std. Hsg. Rev. (Collegiate Hsg. College Sta. I LLC)
     
   
160
 
Ser. 2014-A, (AGM Insured), 4.00%, due 4/1/20
 
163
 
   
200
 
Ser. 2014-A, (AGM Insured), 4.00%, due 4/1/21
 
207
 
   
200
 
Ser. 2014-A, (AGM Insured), 4.00%, due 4/1/22
 
210
 
   
125
 
Ser. 2014-A, (AGM Insured), 4.00%, due 4/1/23
 
133
 
   
220
 
Ser. 2014-A, (AGM Insured), 4.00%, due 4/1/24
 
236
 
   
1,900
 
North Tollway Au. First Tier Rev. Ref., Ser. 2017-A, 5.00%, due 1/1/43
 
2,137
 
   
1,290
 
Pampa Independent Sch. Dist. G.O. Ref., (PSF-GTD Insured), Ser. 2016, 5.00%, due 8/15/32
 
1,481
 
   
50
 
Texas Pub. Fin. Au. Rev. (So. Univ. Fin. Sys.), Ser. 2013, (BAM Insured), 5.00%, due 11/1/20
 
52
 
 
15,837
 
Utah 1.6%
       
Midvale Redev. Agcy. Tax Increment & Sales Tax Rev.
     
   
660
 
Ser. 2018, 5.00%, due 5/1/32
 
771
 
   
695
 
Ser. 2018, 5.00%, due 5/1/33
 
805
 
   
480
 
Ser. 2018, 5.00%, due 5/1/34
 
553
 
   
990
 
Weber Co. Spec. Assessment (Summit Mountain Assessment Area), Ser. 2013, 5.50%, due 1/15/28
 
1,121
 
 
3,250
 
Vermont 0.3%
   
685
 
Burlington Elec. Sys. Rev., Ser. 2014-A, (AGM Insured), 3.63%, due 7/1/29
 
715
 
 
Virginia 1.2%
   
2,000
 
Henrico Co. Wtr. & Swr. Ref. Rev., Ser. 2016, 5.00%, due 5/1/27
 
2,391
 
 
Washington 3.2%
       
Kent Ref. G.O.
     
 
 
900
 
Ser. 2016, 4.00%, due 12/1/29
 
991
 
   
1,000
 
Ser. 2016, 4.00%, due 12/1/30
 
1,087
 
       
North Thurston Pub. Sch. G.O.
     
   
215
 
Ser. 2016, 4.00%, due 12/1/28
 
238
 
   
250
 
Ser. 2016, 4.00%, due 12/1/29
 
274
 
   
375
 
Ser. 2016, 4.00%, due 12/1/30
 
407
 
   
1,000
 
Washington St. Hlth. Care Fac. Au. Rev. Ref. (Virginia Mason Med. Ctr.), Ser. 2017, 5.00%, due 8/15/26
 
1,138
 
   
320
 
Washington St. Ref. G.O., Ser. 2016-B, 5.00%, due 7/1/26
 
381
 
       
Whitman Co. Sch. Dist. No. 267 Pullman G.O.
     
   
800
 
Ser. 2016, 4.00%, due 12/1/29
 
873
 
   
975
 
Ser. 2016, 4.00%, due 12/1/30
 
1,056
 
 
6,445
 
West Virginia 0.9%
   
1,000
 
West Virginia Hosp. Fin. Au. Rev. (Impt. West Virginia Univ. Hlth. Sys. Obligated Group), Ser. 2018-A, 5.00%, due 6/1/52
 
1,072
 
   
700
 
West Virginia Hosp. Fin. Au. Rev. Ref. (Cabell Huntington Hosp. Obligated Group), Ser. 2018-A, 5.00%, due 1/1/29
 
823
 
 
1,895
 
Wisconsin 0.8%
   
470
 
Pub. Fin. Au. Lease Dev. Rev. (Central Dist. Dev. Proj.), Ser. 2016, 5.00%, due 3/1/32
 
532
 
   
1,000
 
Wisconsin St. Hlth. & Ed. Facs. Au. Rev. Ref. (Ascension Health Credit Group), Ser. 2016-A, 4.00%, due 11/15/39
 
1,019
 
 
1,551
 
       
 
Total Investments 99.1% (Cost $200,000)
201,765
 
       
 
Other Assets Less Liabilities 0.9%
1,879
 
       
 
Net Assets 100.0%
$203,644
 
 
(a)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $7,000,000, which represents 3.4% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(b)
 
Variable rate demand obligation where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate generally resets daily or weekly and is determined by the remarketing agent. The rate shown represents the rate in effect at January 31, 2019.
(c)
 
Currently a zero coupon security; will convert to 6.04% on August 1, 2026.
 
 
See Notes to Schedule of Investments

Schedule of Investments Municipal Intermediate Bond Fund^
(Unaudited) (cont’d)
 
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
Municipal Notes(a)
 
$
   
$
201,765
   
$
   
$
201,765
 
Total Investments
 
$
   
$
201,765
   
$
   
$
201,765
 

(a) The Schedule of Investments provides a categorization by state/territory for the portfolio.

^ A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.
 
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Short Duration Bond Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
   
VALUE
(000's omitted)
   
(000's omitted)
 
U.S. Treasury Obligations 12.9%
       
U.S. Treasury Notes
     
 
$
5,515
 
 2.75%, due 9/30/20 – 8/15/21
$
5,541
 
   
2,070
 
 2.50%, due 12/31/20
 
2,071
 
   
2,080
 
 2.63%, due 7/15/21 – 12/15/21
 
2,090
 
   
2,000
 
 2.88%, due 10/15/21
 
2,022
 
 
 
Total U.S. Treasury Obligations (Cost $11,394)
 
11,724
 
 
Mortgage-Backed Securities 21.9%
 
Collateralized Mortgage Obligations 0.1%
   
63
 
Harborview Mortgage Loan Trust, Ser. 2004-4, Class 3A, (1 month USD LIBOR + 1.13%), 3.64%, due 6/19/34
 
61
(a)
 
Commercial Mortgage-Backed 19.6%
   
708
 
Banc of America Commercial Mortgage Trust, Ser. 2017-BNK3, Class A1, 1.96%, due 2/15/50
 
698
 
   
494
 
BBCMS Mortgage Trust, Ser. 2017-C1, Class A1, 2.01%, due 2/15/50
 
486
 
       
CD Mortgage Trust
     
   
575
 
Ser. 2016-CD1, Class A1, 1.44%, due 8/10/49
 
564
 
   
339
 
Ser. 2017-CD3, Class A1, 1.97%, due 2/10/50
 
335
 
   
1,829
 
Ser. 2017-CD5, Class A1, 2.03%, due 8/15/50
 
1,800
 
       
Citigroup Commercial Mortgage Trust
     
   
873
 
Ser. 2012-GC8, Class AAB, 2.61%, due 9/10/45
 
867
 
   
564
 
Ser. 2016-C2, Class A1, 1.50%, due 8/10/49
 
553
 
   
1,028
 
Ser. 2018-C5, Class A1, 3.13%, due 6/10/51
 
1,033
 
       
Commercial Mortgage Pass-Through Certificates
     
   
186
 
Ser. 2015-CR25, Class A1, 1.74%, due 8/10/48
 
184
 
   
428
 
Ser. 2016-CR28, Class A1, 1.77%, due 2/10/49
 
424
 
   
130
 
Ser. 2015-PC1, Class A1, 1.67%, due 7/10/50
 
129
 
   
817
 
CSAIL Commercial Mortgage Trust, Ser. 2017-CX10, Class A1, 2.23%, due 11/15/50
 
804
 
   
496
 
DBJPM Mortgage Trust, Ser. 2016-C3, Class A1, 1.50%, due 8/10/49
 
487
 
   
168
 
GS Mortgage Securities Trust, Ser. 2015-GS1, Class A1, 1.94%, due 11/10/48
 
166
 
   
717
 
JP Morgan Chase Commercial Mortgage Securities Trust, Ser. 2013-LC11, Class ASB, 2.55%, due 4/15/46
 
710
 
       
JPMBB Commercial Mortgage Securities Trust
     
   
1,180
 
Ser. 2013-C12, Class ASB, 3.16%, due 7/15/45
 
1,181
 
   
337
 
Ser. 2015-C27, Class ASB, 3.02%, due 2/15/48
 
336
 
   
1,356
 
Ladder Capital Commercial Mortgage Securities LLC, Ser. 2017-LC26, Class A1, 1.98%, due 7/12/50
 
1,336
(b)
       
Morgan Stanley Bank of America Merrill Lynch Trust
     
   
326
 
Ser. 2016-C28, Class A1, 1.53%, due 1/15/49
 
322
 
   
738
 
Ser. 2017-C33, Class A1, 2.03%, due 5/15/50
 
728
 
   
367
 
SG Commercial Mortgage Securities Trust, Ser. 2016-C5, Class A1, 1.35%, due 10/10/48
 
360
 
       
Wells Fargo Commercial Mortgage Trust
     
   
179
 
Ser. 2015-P2, Class A1, 1.97%, due 12/15/48
 
178
 
   
785
 
Ser. 2016-NXS6, Class A1, 1.42%, due 11/15/49
 
772
 
   
825
 
Ser. 2017-C39, Class A1, 1.98%, due 9/15/50
 
811
 
   
1,604
 
Ser. 2018-C45, Class A1, 3.13%, due 6/15/51
 
1,613
 
   
479
 
Ser. 2016-NXS5, Class A1, 1.56%, due 1/15/59
 
473
 
   
574
 
Ser. 2016-C32, Class A1, 1.58%, due 1/15/59
 
567
 
 
17,917
 
Fannie Mae 1.2%
       
Pass-Through Certificates
     
 
 
231
 
3.50%, due 10/1/25
 
235
 
   
517
 
3.00%, due 9/1/27
 
519
 
   
329
 
4.50%, due 4/1/39 – 5/1/44
 
344
 
 
1,098
 
Freddie Mac 1.0%
 
       
Pass-Through Certificates
     
   
266
 
3.50%, due 5/1/26
 
271
 
   
383
 
3.00%, due 1/1/27
 
385
 
   
225
 
4.50%, due 11/1/39
 
237
 
 
893
 
 
 
Total Mortgage-Backed Securities (Cost $20,195)
 
19,969
 
 
Corporate Bonds 50.3%
 
Aerospace & Defense 1.1%
   
650
 
General Dynamics Corp., (3 month USD LIBOR + 0.38%), 3.00%, due 5/11/21
 
650
(a)
   
395
 
United Technologies Corp., 3.35%, due 8/16/21
 
399
 
 
1,049
 
Agriculture 1.6%
   
1,515
 
BAT Capital Corp., 2.30%, due 8/14/20
 
1,495
 
 
Auto Manufacturers 3.3%
   
390
 
Daimler Finance N.A. LLC, 1.50%, due 7/5/19
 
388
(b)
   
810
 
Harley-Davidson Financial Services, Inc., (3 month USD LIBOR + 0.50%), 3.15%, due 5/21/20
 
810
(a)(b)
   
1,840
 
Volkswagen Group of America Finance LLC, (3 month USD LIBOR + 0.77%), 3.39%, due 11/13/20
 
1,839
(a)(b)
 
3,037
 
Banks 17.3%
   
1,675
 
Bank of America Corp., 5.63%, due 7/1/20
 
1,740
 
   
2,025
 
Citigroup, Inc., 2.45%, due 1/10/20
 
2,016
 
   
1,750
 
Goldman Sachs Group, Inc., 5.25%, due 7/27/21
 
1,835
 
   
850
 
HSBC Holdings PLC, (3 month USD LIBOR + 0.60%), 3.24%, due 5/18/21
 
849
(a)
   
1,610
 
JPMorgan Chase & Co., 4.40%, due 7/22/20
 
1,643
 
   
1,500
 
Morgan Stanley, 5.75%, due 1/25/21
 
1,575
 
   
1,250
 
National Australia Bank Ltd., 3.70%, due 11/4/21
 
1,264
 
   
1,235
 
Santander UK PLC, 2.50%, due 1/5/21
 
1,215
 
   
795
 
Sumitomo Mitsui Banking Corp., 2.51%, due 1/17/20
 
792
 
   
985
 
Toronto-Dominion Bank, 3.25%, due 6/11/21
 
992
 
   
900
 
Wells Fargo Bank N.A., (3 month USD LIBOR + 0.49%), 3.33%, due 7/23/21
 
903
(a)
   
915
 
Westpac Banking Corp., 2.15%, due 3/6/20
 
908
 
 
15,732
 
Beverages 1.8%
   
623
 
Anheuser-Busch InBev Finance, Inc., 2.65%, due 2/1/21
 
620
 
   
1,000
 
Diageo Capital PLC, (3 month USD LIBOR + 0.24%), 2.88%, due 5/18/20
 
999
(a)
 
1,619
 
Commercial Services 1.5%
   
1,335
 
ERAC USA Finance LLC, 5.25%, due 10/1/20
 
1,378
(b)
 
Diversified Financial Services 3.9%
   
675
 
AIG Global Funding, 2.15%, due 7/2/20
 
668
(b)
   
1,525
 
American Express Co., 2.20%, due 10/30/20
 
1,507
 
 
 
1,380
 
Capital One Financial Corp., 2.50%, due 5/12/20
 
1,370
 
 
3,545
 
Electric 2.5%
   
1,060
 
Pennsylvania Electric Co., 5.20%, due 4/1/20
 
1,086
 
       
Sempra Energy
     
   
810
 
(3 month USD LIBOR + 0.25%), 3.04%, due 7/15/19
 
808
(a)
   
390
 
2.40%, due 2/1/20
 
386
 
 
2,280
 
Media 3.4%
   
800
 
Charter Communications Operating LLC/Charter Communications Operating Capital, 3.58%, due 7/23/20
 
802
 
   
580
 
Comcast Corp., (3 month USD LIBOR + 0.44%), 3.24%, due 10/1/21
 
580
(a)
   
585
 
Discovery Communications LLC, 2.20%, due 9/20/19
 
581
 
   
545
 
Fox Corp., 3.67%, due 1/25/22
 
551
(b)
   
555
 
Walt Disney Co., (3 month USD LIBOR + 0.19%), 2.94%, due 6/5/20
 
555
(a)
 
3,069
 
Oil & Gas 1.8%
   
835
 
BP AMI Leasing, Inc., 5.52%, due 5/8/19
 
839
(b)
   
815
 
BP Capital Markets PLC, 3.56%, due 11/1/21
 
828
 
 
1,667
 
Pharmaceuticals 5.9%
   
1,235
 
AbbVie, Inc., 2.50%, due 5/14/20
 
1,228
 
   
1,385
 
Cigna Corp, Inc., 3.20%, due 9/17/20
 
1,387
(b)
   
900
 
CVS Health Corp., 2.80%, due 7/20/20
 
897
 
   
1,000
 
GlaxoSmithKline Capital PLC, (3 month USD LIBOR + 0.35%), 2.96%, due 5/14/21
 
997
(a)
   
209
 
Mylan NV, 2.50%, due 6/7/19
 
208
 
   
640
 
Shire Acquisitions Investments Ireland DAC, 1.90%, due 9/23/19
 
635
 
 
5,352
 
Pipelines 1.3%
   
1,180
 
Enterprise Products Operating LLC, 2.80%, due 2/15/21
 
1,176
 
 
Retail 1.0%
   
925
 
Walmart, Inc., (3 month USD LIBOR + 0.23%), 3.05%, due 6/23/21
 
927
(a)
 
Telecommunications 3.9%
   
1,715
 
AT&T, Inc., 2.80%, due 2/17/21
 
1,706
 
   
571
 
Cisco Systems, Inc., (3 month USD LIBOR + 0.50%), 3.24%, due 3/1/19
 
571
(a)
   
1,210
 
Verizon Communications, Inc., 4.60%, due 4/1/21
 
1,252
 
 
3,529
 
 
 
Total Corporate Bonds (Cost $46,235)
 
45,855
 
 
Asset-Backed Securities 9.1%
   
565
 
Ally Auto Receivables Trust, Ser. 2018-1, Class A3, 2.35%, due 6/15/22
 
561
 
   
1,570
 
American Express Credit Account Master Trust, Ser. 2018-1, Class A, 2.67%, due 10/17/22
 
1,567
 
   
1,200
 
Bank of America Credit Card Trust, Ser. 2018-A3, Class A3, 3.10%, due 12/15/23
 
1,209
 
   
73
 
Canadian Pacer Auto Receivables Trust, Ser. 2017-1A, Class A2A, 1.77%, due 12/19/19
 
73
(b)
       
Capital One Multi-Asset Execution Trust
     
 
 
1,200
 
Ser. 2016-A3, Class A3, 1.34%, due 4/15/22
 
1,193
 
   
1,030
 
Ser. 2014-A4, Class A4, (1 month USD LIBOR + 0.36%), 2.87%, due 6/15/22
 
1,031
(a)
   
1,050
 
Chase Issuance Trust, Ser. 2016-A5, Class A5, 1.27%, due 7/15/21
 
1,043
 
   
476
 
GM Financial Consumer Automobile Receivables Trust, Ser. 2017-3A, Class A2A, 1.71%, due 9/16/20
 
475
(b)
   
329
 
Nissan Auto Receivables Owner Trust, Ser. 2016-C, Class A3, 1.18%, due 1/15/21
 
327
 
   
565
 
Toyota Auto Receivables Owner Trust, Ser. 2018-A, Class A3, 2.35%, due 5/16/22
 
561
 
   
277
 
Verizon Owner Trust, Ser. 2016-1A, Class A, 1.42%, due 1/20/21
 
276
(b)
 
 
Total Asset-Backed Securities (Cost $8,337)
 
8,316
 
 
NUMBER OF
SHARES
         
 
Short-Term Investments 5.3%
 
Investment Companies 5.3%
   
4,860,132
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(c) (Cost $4,860)
 
4,860
(d)
 
 
Total Investments 99.5% (Cost $91,021)
90,724
 
       
 
Other Assets Less Liabilities 0.5%
473
(e)
       
 
Net Assets 100.0%
$91,197
 
 
(a)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(b)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $10,020,000, which represents 11.0% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(c)
 
Represents 7-day effective yield as of January 31, 2019.
(d)
 
All or a portion of this security is segregated in connection with obligations for futures with a total value of approximately $4,860,000.
(e)
 
Includes the impact of the Fund's open positions in derivatives at January 31, 2019.
 
See Notes to Schedule of Investments

Schedule of Investments Short Duration Bond Fund^
(Unaudited) (cont’d)
 
 
Derivative Instruments

Futures contracts ("futures")
 
 
At January 31, 2019, open positions in futures for the Fund were as follows:
 
Long Futures:
 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
   
3/2019
 
122
U.S. Treasury Note, 2 Year
$
25,904,031
$
126,141
   
Total Futures
$
25,904,031
$
126,141
   
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Short Duration Bond Fund^
(Unaudited) (cont’d)
 

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
       
U.S. Treasury Obligations
 
$
   
$
11,724
   
$
   
$
11,724
 
Mortgage-Backed Securities(a)
   
     
19,969
     
     
19,969
 
Corporate Bonds(a)
   
     
45,855
     
     
45,855
 
Asset-Backed Securities
   
     
8,316
     
     
8,316
 
Short-Term Investments
   
     
4,860
     
     
4,860
 
Total Investments
 
$
   
$
90,724
   
$
   
$
90,724
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of January 31, 2019:
 
Other Financial Instruments
 
(000's omitted)
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
Futures(a)
               
Assets
 
$
126
   
$
   
$
   
$
126
 
Total
 
$
126
   
$
   
$
   
$
126
 

(a)
Futures are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^
A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.
 
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Short Duration High Income Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
 
VALUE
(000's omitted)
 
(000's omitted)
 
Loan Assignments(a) 7.1%
 
Building & Development 0.4%
   
219
 
Jeld-Wen Inc., First Lien Term Loan, (3 month USD LIBOR + 2.00%), 4.80%, due 12/14/24
$
213
 
   
70
 
Realogy Corporation, Term Loan B, (1 month USD LIBOR + 2.25%), 4.76%, due 2/8/25
 
68
 
 
281
 
Business Equipment & Services 1.0%
   
399
 
Protection One, First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 5/2/22
 
393
 
   
86
 
Servicemaster Company, Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 11/8/23
 
85
 
   
203
 
West, Term Loan, (1 month USD LIBOR + 4.00%), 6.50%, due 10/10/24
 
186
 
 
664
 
Cable & Satellite Television 0.4%
   
284
 
Altice France S.A., Term Loan B13, (1 month USD LIBOR + 4.00%), 6.51%, due 8/14/26
 
268
 
 
Chemicals & Plastics 0.1%
   
64
 
Starfruit Finco B.V., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 10/1/25
 
62
 
 
Containers & Glass Products 0.6%
   
80
 
Berlin Packaging LLC, First Lien Term Loan, (USD LIBOR + 3.00%), 5.51%, due 11/7/25
 
77
(b)
   
349
 
BWAY Corporation, Term Loan B, (3 month USD LIBOR + 3.25%), 6.03%, due 4/3/24
 
336
 
 
413
 
Diversified Insurance 0.2%
   
145
 
Sedgwick Claims Management Services, Inc., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 12/31/25
 
141
 
 
Drugs 0.5%
   
34
 
Bausch Health Companies Inc., Term Loan B, (1 month USD LIBOR + 2.75%), 5.26%, due 11/27/25
 
33
 
   
214
 
Endo Luxembourg Finance Company I S.a.r.l., Term Loan B, (1 month USD LIBOR + 4.25%), 6.75%, due 4/29/24
 
212
 
   
38
 
Valeant Pharmaceuticals International, Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.51%, due 6/2/25
 
38
 
 
283
 
Electronics - Electrical 0.4%
   
186
 
Rackspace Hosting, Inc., First Lien Term Loan, (3 month USD LIBOR + 3.00%), 5.58%, due 11/3/23
 
172
 
   
21
 
SS&C Technologies Holdings Europe S.A.R.L., Term Loan B4, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
20
 
       
SS&C Technologies Inc.
     
   
54
 
Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
53
 
   
10
 
Term Loan B5, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
10
 
 
255
 
Food Service 0.1%
   
38
 
Welbilt, Inc., Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 10/23/25
 
37
 
 
Health Care 0.3%
   
240
 
Team Health, Inc., First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.25%, due 2/6/24
 
216
(c)
 
Leisure Goods - Activities - Movies 0.3%
 
 
204
 
Seaworld, Term Loan B5, (1 month USD LIBOR + 3.00%), 5.50%, due 3/31/24
 
200
 
 
Lodging & Casinos 1.7%
   
131
 
Boyd Gaming Corporation, Term Loan B3, (1 week USD LIBOR + 2.25%), 4.66%, due 9/15/23
 
129
(d)(e)
   
219
 
Caesars Resort Collection, LLC, First Lien Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 12/22/24
 
216
 
   
220
 
Eldorado Resorts, Term Loan B, (USD LIBOR + 2.25%), 4.81%, due 4/17/24
 
217
 
       
Mohegan Tribal Gaming
     
   
63
 
Term Loan A, (1 month USD LIBOR + 3.75%), 6.25%, due 10/13/21
 
60
 
   
85
 
Term Loan B, (1 month USD LIBOR + 4.00%), 6.50%, due 10/13/23
 
78
 
   
280
 
Station Casinos, Term Loan B, (1 month USD LIBOR + 2.50%), 5.00%, due 6/8/23
 
276
 
   
127
 
Twin Rivers Casino, Term Loan B, (3 month USD LIBOR + 3.50%), 6.30%, due 7/10/20
 
126
 
 
1,102
 
Retailers (except food & drug) 0.6%
   
300
 
Bass Pro Shops, Term Loan B, (1 month USD LIBOR + 5.00%), 7.50%, due 9/25/24
 
296
 
   
91
 
CDW LLC, Term Loan B, (1 month USD LIBOR + 1.75%), 4.25%, due 8/17/23
 
90
 
 
386
 
Telecommunications 0.4%
   
219
 
Centurylink, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 1/31/25
 
210
 
   
65
 
Syniverse Holdings, Inc., First Lien Term Loan, (1 month USD LIBOR + 5.00%), 7.51%, due 3/9/23
 
58
 
 
268
 
Utilities 0.1%
   
54
 
Texas Competitive, Term Loan B2, (1 month USD LIBOR + 2.25%), 4.75%, due 12/14/23
 
53
 
 
 
 
Total Loan Assignments (Cost $4,700)
 
4,629
 
 
Corporate Bonds 89.6%
 
Advertising 2.9%
   
100
 
Clear Channel Worldwide Holdings, Inc., Ser. A, 6.50%, due 11/15/22
 
102
 
   
360
 
Nielsen Co. Luxembourg SARL, 5.50%, due 10/1/21
 
363
(f)
       
Nielsen Finance LLC/Nielsen Finance Co.
     
   
620
 
4.50%, due 10/1/20
 
619
 
   
565
 
5.00%, due 4/15/22
 
564
(f)
   
265
 
Outfront Media Capital LLC/Outfront Media Capital Corp., 5.63%, due 2/15/24
 
268
 
 
1,916
 
Auto Parts & Equipment 0.6%
   
85
 
American Axle & Manufacturing, Inc., 7.75%, due 11/15/19
 
87
 
   
200
 
IHO Verwaltungs GmbH, (4.13% Cash/4.88% PIK), 4.13%, due 9/15/21
 
195
(f)(g)
   
120
 
LKQ Corp., 4.75%, due 5/15/23
 
121
 
 
403
 
Banking 1.4%
       
Ally Financial, Inc.
     
 
 
200
 
8.00%, due 3/15/20
 
209
 
   
195
 
7.50%, due 9/15/20
 
205
 
   
160
 
4.25%, due 4/15/21
 
161
 
   
145
 
4.13%, due 2/13/22
 
146
 
       
CIT Group, Inc.
     
   
45
 
4.13%, due 3/9/21
 
45
 
   
145
 
5.00%, due 8/15/22
 
149
 
 
915
 
Building & Construction 3.0%
       
Lennar Corp.
     
   
350
 
4.50%, due 11/15/19
 
348
 
   
390
 
4.75%, due 4/1/21
 
394
 
   
70
 
4.13%, due 1/15/22
 
70
 
   
50
 
5.38%, due 10/1/22
 
51
 
   
155
 
Meritage Homes Corp., 7.15%, due 4/15/20
 
160
 
   
365
 
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., 5.25%, due 4/15/21
 
366
(f)
   
280
 
Toll Brothers Finance Corp., 5.88%, due 2/15/22
 
291
 
   
300
 
TRI Pointe Group, Inc., 4.88%, due 7/1/21
 
296
 
 
1,976
 
Building Materials 0.3%
   
150
 
Beacon Roofing Supply, Inc., 6.38%, due 10/1/23
 
155
 
   
47
 
Masonite Int'l Corp., 5.63%, due 3/15/23
 
47
(f)
 
202
 
Cable & Satellite Television 7.2%
   
200
 
Altice Financing SA, 6.63%, due 2/15/23
 
201
(f)
   
240
 
Altice Luxembourg SA, 7.75%, due 5/15/22
 
233
(f)
   
420
 
Cable One, Inc., 5.75%, due 6/15/22
 
427
(f)
       
CCO Holdings LLC/CCO Holdings Capital Corp.
     
   
805
 
5.13%, due 2/15/23
 
813
 
   
190
 
4.00%, due 3/1/23
 
185
(f)
   
195
 
5.75%, due 1/15/24
 
199
 
   
180
 
5.88%, due 4/1/24
 
185
(f)
       
CSC Holdings LLC
     
   
285
 
6.75%, due 11/15/21
 
299
 
   
355
 
5.13%, due 12/15/21
 
356
(f)
   
211
 
10.13%, due 1/15/23
 
227
(f)
   
295
 
5.38%, due 7/15/23
 
298
(f)
       
DISH DBS Corp.
     
   
160
 
7.88%, due 9/1/19
 
163
 
   
450
 
6.75%, due 6/1/21
 
458
 
   
210
 
5.88%, due 7/15/22
 
199
 
   
100
 
5.00%, due 3/15/23
 
87
 
   
370
 
Numericable-SFR SA, 6.25%, due 5/15/24
 
363
(f)
 
4,693
 
Chemicals 2.7%
   
115
 
Ashland LLC, 4.75%, due 8/15/22
 
116
 
       
Huntsman Int'l LLC
     
 
 
210
 
4.88%, due 11/15/20
 
213
 
   
105
 
5.13%, due 11/15/22
 
109
 
       
NOVA Chemicals Corp.
     
   
550
 
5.25%, due 8/1/23
 
535
(f)
   
95
 
4.88%, due 6/1/24
 
90
(f)
   
290
 
PQ Corp., 6.75%, due 11/15/22
 
303
(f)
   
365
 
WR Grace & Co-Conn, 5.13%, due 10/1/21
 
375
(f)
 
1,741
 
Consumer - Commercial Lease Financing 6.5%
   
120
 
Avolon Holdings Funding Ltd., 5.13%, due 10/1/23
 
122
(f)
       
Navient Corp.
     
   
134
 
4.88%, due 6/17/19
 
134
 
   
445
 
6.50%, due 6/15/22
 
455
 
       
Park Aerospace Holdings Ltd.
     
   
280
 
3.63%, due 3/15/21
 
276
(f)
   
655
 
5.25%, due 8/15/22
 
665
(f)
   
145
 
4.50%, due 3/15/23
 
142
(f)
   
340
 
5.50%, due 2/15/24
 
345
(f)
   
585
 
SLM Corp., 7.25%, due 1/25/22
 
607
 
       
Springleaf Finance Corp.
     
   
1,175
 
7.75%, due 10/1/21
 
1,237
 
   
165
 
6.13%, due 5/15/22
 
170
 
   
95
 
5.63%, due 3/15/23
 
94
 
 
4,247
 
Diversified Capital Goods 0.5%
   
200
 
Anixter, Inc., 5.13%, due 10/1/21
 
203
 
   
155
 
CFX Escrow Corp., 6.00%, due 2/15/24
 
155
(f)(h)
 
358
 
Electric - Generation 3.5%
       
Calpine Corp.
     
   
675
 
6.00%, due 1/15/22
 
680
(f)
   
190
 
5.38%, due 1/15/23
 
185
 
   
330
 
5.88%, due 1/15/24
 
330
(f)
       
Dynegy, Inc.
     
   
250
 
7.38%, due 11/1/22
 
260
 
   
215
 
5.88%, due 6/1/23
 
220
 
   
188
 
7.63%, due 11/1/24
 
200
 
   
435
 
NRG Energy, Inc., 6.25%, due 5/1/24
 
450
 
 
2,325
 
Electric - Integrated 0.3%
   
205
 
Talen Energy Supply LLC, 9.50%, due 7/15/22
 
209
(f)
 
Energy - Exploration & Production 5.5%
       
Antero Resources Corp.
     
   
230
 
5.38%, due 11/1/21
 
231
 
   
80
 
5.13%, due 12/1/22
 
80
 
   
422
 
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.00%, due 4/1/22
 
451
(f)
       
Chesapeake Energy Corp.
     
   
140
 
6.13%, due 2/15/21
 
140
 
   
120
 
4.88%, due 4/15/22
 
114
 
   
125
 
5.75%, due 3/15/23
 
117
 
   
120
 
7.00%, due 10/1/24
 
117
 
   
265
 
EP Energy LLC/Everest Acquisition Finance, Inc., 9.38%, due 5/1/24
 
141
(f)
   
120
 
Newfield Exploration Co., 5.75%, due 1/30/22
 
125
 
       
Oasis Petroleum, Inc.
     
 
 
85
 
6.88%, due 3/15/22
 
85
 
   
195
 
6.88%, due 1/15/23
 
193
 
       
Range Resources Corp.
     
   
445
 
5.75%, due 6/1/21
 
447
 
   
210
 
5.88%, due 7/1/22
 
211
 
   
75
 
Sanchez Energy Corp., 7.75%, due 6/15/21
 
15
 
   
370
 
SM Energy Co., 6.13%, due 11/15/22
 
371
 
       
Whiting Petroleum Corp.
     
   
180
 
5.75%, due 3/15/21
 
180
 
   
225
 
6.25%, due 4/1/23
 
222
 
       
WPX Energy, Inc.
     
   
275
 
6.00%, due 1/15/22
 
279
 
   
70
 
8.25%, due 8/1/23
 
78
 
 
3,597
 
Environmental 0.4%
   
240
 
Advanced Disposal Services, Inc., 5.63%, due 11/15/24
 
241
(f)
 
Food & Drug Retailers 0.2%
   
135
 
Albertsons Cos. LLC/Safeway, Inc./New Albertson's, Inc./Albertson's LLC, 6.63%, due 6/15/24
 
133
 
 
Food - Wholesale 0.3%
   
185
 
Post Holdings, Inc., 5.50%, due 3/1/25
 
184
(f)
 
Gaming 2.5%
   
225
 
Boyd Gaming Corp., 6.88%, due 5/15/23
 
234
 
   
115
 
Eldorado Resorts, Inc., 6.00%, due 4/1/25
 
116
 
   
200
 
Int'l Game Technology PLC, 6.25%, due 2/15/22
 
207
(f)
   
122
 
Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp., 6.75%, due 11/15/21
 
126
(f)
       
MGM Resorts Int'l
     
   
395
 
6.63%, due 12/15/21
 
417
 
   
180
 
7.75%, due 3/15/22
 
196
 
   
180
 
VICI Properties 1 LLC/VICI FC, Inc., 8.00%, due 10/15/23
 
194
 
   
165
 
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 4.25%, due 5/30/23
 
161
(f)
 
1,651
 
Gas Distribution 3.6%
   
65
 
Antero Midstream Partners L.P./Antero Midstream Finance Corp., 5.38%, due 9/15/24
 
64
 
       
DCP Midstream LLC
     
   
206
 
5.35%, due 3/15/20
 
209
(f)
   
365
 
4.75%, due 9/30/21
 
367
(f)
   
110
 
DCP Midstream Operating L.P., 2.70%, due 4/1/19
 
110
 
       
NuStar Logistics L.P.
     
   
305
 
6.75%, due 2/1/21
 
313
 
   
180
 
4.75%, due 2/1/22
 
175
 
   
175
 
SemGroup Corp./Rose Rock Finance Corp., 5.63%, due 7/15/22
 
166
 
   
250
 
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 5.50%, due 8/15/22
 
241
 
       
Targa Resources Partners L.P./Targa Resources Partners Finance Corp.
     
   
520
 
5.25%, due 5/1/23
 
521
 
   
190
 
6.75%, due 3/15/24
 
198
 
 
2,364
 
Health Facilities 5.1%
       
Acadia Healthcare Co., Inc.
     
 
 
225
 
5.13%, due 7/1/22
 
221
 
   
130
 
6.50%, due 3/1/24
 
128
 
       
HCA, Inc.
     
   
210
 
7.50%, due 2/15/22
 
230
 
   
525
 
5.88%, due 3/15/22
 
556
 
   
245
 
5.88%, due 5/1/23
 
259
 
   
245
 
MEDNAX, Inc., 5.25%, due 12/1/23
 
246
(f)
       
Tenet Healthcare Corp.
     
   
210
 
4.75%, due 6/1/20
 
212
 
   
165
 
4.50%, due 4/1/21
 
165
 
   
435
 
4.38%, due 10/1/21
 
434
 
   
405
 
7.50%, due 1/1/22
 
421
(f)
   
60
 
8.13%, due 4/1/22
 
63
 
   
65
 
6.75%, due 6/15/23
 
64
 
   
330
 
Universal Health Services, Inc., 4.75%, due 8/1/22
 
334
(f)
 
3,333
 
Health Services 1.4%
   
190
 
DaVita, Inc., 5.75%, due 8/15/22
 
193
 
   
255
 
IQVIA, Inc., 4.88%, due 5/15/23
 
258
(f)
   
285
 
Service Corp. Int'l, 4.50%, due 11/15/20
 
283
 
   
200
 
Syneos Health, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc., 7.50%, due 10/1/24
 
211
(f)
 
945
 
Hotels 0.6%
   
375
 
RHP Hotel Properties L.P./RHP Finance Corp., 5.00%, due 4/15/21
 
375
 
 
Investments & Misc. Financial Services 0.2%
   
115
 
MSCI, Inc., 5.25%, due 11/15/24
 
117
(f)
 
Managed Care 1.3%
       
Centene Corp.
     
   
280
 
4.75%, due 5/15/22
 
285
 
   
400
 
6.13%, due 2/15/24
 
419
 
   
115
 
WellCare Health Plans, Inc., 5.25%, due 4/1/25
 
117
 
 
821
 
Media Content 4.6%
       
AMC Networks, Inc.
     
   
190
 
4.75%, due 12/15/22
 
191
 
   
85
 
5.00%, due 4/1/24
 
84
 
       
Gannett Co., Inc.
     
   
51
 
5.13%, due 10/15/19
 
51
 
   
350
 
5.13%, due 7/15/20
 
351
 
   
50
 
4.88%, due 9/15/21
 
50
(f)
   
125
 
Lions Gate Capital Holdings LLC, 5.88%, due 11/1/24
 
123
(f)
       
Netflix, Inc.
     
 
 
345
 
5.38%, due 2/1/21
 
353
 
   
60
 
5.50%, due 2/15/22
 
62
 
       
Nexstar Broadcasting, Inc.
     
   
80
 
6.13%, due 2/15/22
 
81
(f)
   
75
 
5.88%, due 11/15/22
 
76
 
       
Sinclair Television Group, Inc.
     
   
180
 
5.38%, due 4/1/21
 
180
 
   
255
 
5.63%, due 8/1/24
 
247
(f)
       
Sirius XM Radio, Inc.
     
   
645
 
3.88%, due 8/1/22
 
635
(f)
   
195
 
4.63%, due 5/15/23
 
195
(f)
   
180
 
Univision Communications, Inc., 5.13%, due 5/15/23
 
168
(f)
   
160
 
WMG Acquisition Corp., 5.00%, due 8/1/23
 
159
(f)
 
3,006
 
Medical Products 0.2%
   
105
 
Ortho-Clinical Diagnostics, Inc./Ortho-Clinical Diagnostics SA, 6.63%, due 5/15/22
 
101
(f)
 
Metals - Mining Excluding Steel 3.9%
       
Arconic, Inc.
     
   
150
 
5.40%, due 4/15/21
 
153
 
   
120
 
5.87%, due 2/23/22
 
124
 
   
145
 
FMG Resources (August 2006) Pty Ltd., 4.75%, due 5/15/22
 
144
(f)
       
Freeport-McMoRan, Inc.
     
   
205
 
3.10%, due 3/15/20
 
203
 
   
1,180
 
3.55%, due 3/1/22
 
1,142
(i)
   
335
 
Hudbay Minerals, Inc., 7.25%, due 1/15/23
 
345
(f)
   
235
 
Novelis Corp., 6.25%, due 8/15/24
 
237
(f)
   
200
 
Teck Resources Ltd., 4.75%, due 1/15/22
 
202
 
 
2,550
 
Oil Field Equipment & Services 0.5%
   
320
 
Precision Drilling Corp., 7.75%, due 12/15/23
 
306
 
 
Packaging 4.3%
   
320
 
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 4.63%, due 5/15/23
 
320
(f)
       
Berry Plastics Corp.
     
   
270
 
5.50%, due 5/15/22
 
272
 
   
150
 
6.00%, due 10/15/22
 
153
 
   
440
 
5.13%, due 7/15/23
 
441
 
   
350
 
BWAY Holding Co., 5.50%, due 4/15/24
 
342
(f)
   
125
 
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, due 1/15/23
 
126
 
   
200
 
Graphic Packaging Int'l, Inc., 4.75%, due 4/15/21
 
202
 
   
145
 
Owens-Brockway Glass Container, Inc., 5.00%, due 1/15/22
 
146
(f)
       
Reynolds Group Issuer, Inc.
     
   
75
 
(3 month USD LIBOR + 3.50%), 6.29%, due 7/15/21
 
75
(a)(f)
   
510
 
5.13%, due 7/15/23
 
511
(f)
   
200
 
Sealed Air Corp., 4.88%, due 12/1/22
 
202
(f)
 
2,790
 
Personal & Household Products 1.1%
       
Energizer Holdings, Inc.
     
   
130
 
4.70%, due 5/19/21
 
131
 
   
120
 
4.70%, due 5/24/22
 
120
 
   
262
 
Prestige Brands, Inc., 5.38%, due 12/15/21
 
262
(f)
       
Spectrum Brands, Inc.
     
 
 
145
 
6.63%, due 11/15/22
 
148
 
   
60
 
6.13%, due 12/15/24
 
60
 
 
721
 
Pharmaceuticals 2.4%
   
130
 
Endo Finance LLC & Endo Finco, Inc., 7.25%, due 1/15/22
 
123
(f)
   
60
 
Mallinckrodt Int'l Finance SA/Mallinckrodt CB LLC, 4.88%, due 4/15/20
 
59
(f)
       
Valeant Pharmaceuticals Int'l, Inc.
     
   
450
 
6.50%, due 3/15/22
 
465
(f)
   
170
 
5.50%, due 3/1/23
 
166
(f)
   
160
 
5.88%, due 5/15/23
 
157
(f)
   
555
 
7.00%, due 3/15/24
 
582
(f)
 
1,552
 
Printing & Publishing 0.3%
   
218
 
R.R. Donnelley & Sons Co., 7.88%, due 3/15/21
 
221
 
 
Real Estate Development & Management 0.4%
   
280
 
Realogy Group LLC/Realogy Co-Issuer Corp., 5.25%, due 12/1/21
 
280
(f)
 
Real Estate Investment Trusts 2.2%
       
MPT Operating Partnership L.P./MPT Finance Corp.
     
   
260
 
6.38%, due 3/1/24
 
272
 
   
410
 
5.50%, due 5/1/24
 
418
 
   
305
 
Sabra Health Care L.P./Sabra Capital Corp., 5.50%, due 2/1/21
 
308
 
       
Starwood Property Trust, Inc.
     
   
170
 
3.63%, due 2/1/21
 
167
 
   
260
 
5.00%, due 12/15/21
 
263
 
 
1,428
 
Recreation & Travel 2.3%
   
280
 
Cedar Fair L.P./Canada's Wonderland Co./Magnum Management Corp., 5.38%, due 6/1/24
 
281
 
   
1,033
 
NCL Corp. Ltd., 4.75%, due 12/15/21
 
1,040
(f)
   
195
 
Six Flags Entertainment Corp., 4.88%, due 7/31/24
 
193
(f)
 
1,514
 
Restaurants 0.7%
   
285
 
1011778 BC ULC/New Red Finance, Inc., 4.63%, due 1/15/22
 
285
(f)
   
160
 
Yum! Brands, Inc., 3.88%, due 11/1/20
 
159
 
 
444
 
Software - Services 2.3%
       
First Data Corp.
     
   
195
 
5.38%, due 8/15/23
 
199
(f)
   
165
 
5.00%, due 1/15/24
 
169
(f)
   
245
 
Nuance Communications, Inc., 6.00%, due 7/1/24
 
247
 
   
535
 
Open Text Corp., 5.63%, due 1/15/23
 
547
(f)
   
190
 
Rackspace Hosting, Inc., 8.63%, due 11/15/24
 
159
(f)
   
213
 
WEX, Inc., 4.75%, due 2/1/23
 
210
(f)
 
1,531
 
Specialty Retail 0.6%
       
Penske Automotive Group, Inc.
     
   
260
 
3.75%, due 8/15/20
 
258
 
   
95
 
5.75%, due 10/1/22
 
97
 
   
70
 
QVC, Inc., 5.13%, due 7/2/22
 
72
 
 
427
 
Steel Producers/Products 0.5%
 
 
310
 
Big River Steel LLC/BRS Finance Corp., 7.25%, due 9/1/25
 
325
(f)
   
35
 
Steel Dynamics, Inc., 5.25%, due 4/15/23
 
36
 
 
361
 
Support - Services 4.2%
   
50
 
ADT Corp., 4.13%, due 6/15/23
 
48
 
   
140
 
Anna Merger Sub, Inc., 7.75%, due 10/1/22
 
20
(f)
   
120
 
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.50%, due 4/1/23
 
119
 
       
Hertz Corp.
     
   
420
 
5.88%, due 10/15/20
 
416
 
   
140
 
7.38%, due 1/15/21
 
138
 
   
195
 
7.63%, due 6/1/22
 
194
(f)
       
Iron Mountain, Inc.
     
   
420
 
4.38%, due 6/1/21
 
419
(f)
   
195
 
6.00%, due 8/15/23
 
200
 
   
110
 
5.75%, due 8/15/24
 
109
 
   
463
 
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, due 5/15/23
 
490
(f)
   
115
 
United Rentals N.A., Inc., 5.75%, due 11/15/24
 
118
 
   
455
 
Vizient, Inc., 10.38%, due 3/1/24
 
493
(f)
 
2,764
 
Tech Hardware & Equipment 2.4%
   
170
 
CDW LLC/CDW Finance Corp., 5.00%, due 9/1/23
 
171
 
       
CommScope, Inc.
     
   
305
 
5.00%, due 6/15/21
 
305
(f)
   
215
 
5.50%, due 6/15/24
 
201
(f)
       
Diamond 1 Finance Corp./Diamond 2 Finance Corp.
     
   
690
 
5.88%, due 6/15/21
 
701
(f)
   
190
 
7.13%, due 6/15/24
 
200
(f)
 
1,578
 
Telecom - Satellite 0.5%
   
153
 
Hughes Satellite Systems Corp., 6.50%, due 6/15/19
 
155
 
   
130
 
Intelsat Jackson Holdings SA, 9.50%, due 9/30/22
 
151
(f)
 
306
 
Telecom - Wireless 2.5%
   
315
 
Sprint Capital Corp., 6.90%, due 5/1/19
 
317
 
   
750
 
Sprint Corp., 7.25%, due 9/15/21
 
788
 
   
195
 
Sprint Nextel Corp., 7.00%, due 8/15/20
 
202
 
       
T-Mobile USA, Inc.
     
   
145
 
4.00%, due 4/15/22
 
144
 
   
90
 
6.00%, due 3/1/23
 
92
 
   
85
 
6.00%, due 4/15/24
 
87
 
 
1,630
 
Telecom - Wireline Integrated & Services 2.8%
   
410
 
CenturyLink, Inc., Ser. V, 5.63%, due 4/1/20
 
414
 
   
145
 
Equinix, Inc., 5.38%, due 1/1/22
 
147
 
       
Frontier Communications Corp.
     
 
 
160
 
7.13%, due 3/15/19
 
157
 
   
55
 
6.25%, due 9/15/21
 
38
 
   
55
 
8.75%, due 4/15/22
 
37
 
   
65
 
10.50%, due 9/15/22
 
46
 
       
Level 3 Financing, Inc.
     
   
160
 
5.38%, due 8/15/22
 
161
 
   
185
 
5.63%, due 2/1/23
 
186
 
   
135
 
5.13%, due 5/1/23
 
134
 
   
55
 
Qwest Corp., 6.75%, due 12/1/21
 
59
 
   
85
 
Telecom Italia Capital SA, 7.18%, due 6/18/19
 
86
 
   
395
 
Zayo Group LLC/Zayo Capital, Inc., 6.00%, due 4/1/23
 
397
 
 
1,862
 
Theaters & Entertainment 0.9%
   
350
 
AMC Entertainment Holdings, Inc., 5.88%, due 2/15/22
 
350
 
   
260
 
Live Nation Entertainment, Inc., 5.38%, due 6/15/22
 
262
(f)
 
612
 
 
 
Total Corporate Bonds (Cost $59,086)
 
58,730
 
 
NUMBER OF
SHARES
     
 
Short-Term Investments 1.3%
 
Investment Companies 1.3%
   
829,321
 
State Street Institutional U.S. Government Money Market Fund Premier Class,
2.32%(j) (Cost  $829)
 
829
(i)
 
 
Total Investments 98.0% (Cost $64,615)
64,188
 
       
 
Other Assets Less Liabilities 2.0%
1,317
(k)
       
 
Net Assets 100.0%
$65,505
 
 
 
(a)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(b)
 
The stated interest rate represents the weighted average interest rate at January 31, 2019 of the underlying contracts within the Loan Assignment. Interest rates on the underlying contracts are primarily determined by reference to the indicated base lending rate and spread, which are indicated in the security description, and the reset period, which is generally weekly, monthly or quarterly.
(c)
 
Value determined using significant unobservable inputs.
(d)
 
All or a portion of this security was purchased on a delayed delivery basis.
(e)
 
All or a portion of this security had not settled as of January 31, 2019 and thus may not have an interest rate in effect. Interest rates do not take effect until settlement.
(f)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $24,649,000, which represents 37.6% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(g)
 
Payment-in-kind (PIK) security.
(h)
 
When-issued security. Total value of all such securities at January 31, 2019, amounted to approximately $155,000, which represents 0.2% of net assets of the fund.
(i)
 
All or a portion of this security is segregated in connection with obligations for delayed delivery securities and/or when-issued securities with a total value of approximately $1,971,000.
(j)
 
Represents 7-day effective yield as of January 31, 2019.
(k)
 
As of January 31, 2019, the value of unfunded loan commitments was approximately $55,000 for the Fund.
 
 
See Notes to Schedule of Investments

Schedule of Investments Short Duration High Income Fund^
(Unaudited) (cont’d)
 
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
Level 1
 
Level 2
 
Level 3(b)
   
Total
 
Investments:
       
Loan Assignments
               
Health Care
 
$
   
$
   
$
216
   
$
216
 
Other Loan Assignments(a)
   
     
4,413
     
     
4,413
 
Total Loan Assignments
   
     
4,413
     
216
     
4,629
 
Corporate Bonds(a)
   
     
58,730
     
     
58,730
 
Short-Term Investments
   
     
829
     
     
829
 
Total Investments
 
$
   
$
63,972
   
$
216
   
$
64,188
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.

(b)
The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:
 
 
(000’s omitted)
 
 
 
 
 
Beginning
balance, as
of 
11/1/2018
 
 
 
 
 
 
 
Accrued
discounts/
(premiums)
 
 
 
 
 
 
 
Realized
gain/
(loss)
 
 
 
 
 
 
Change in
unrealized
appreciation/
(depreciation)
 
 
 
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
Transfers
into
Level 3
 
 
 
 
 
 
 
Transfers
out of
Level 3
 
 
 
 
 
 
 
Balance,
as of
1/31/2019
 
 
Net change in
unrealized
appreciation/
(depreciation)
from
investments
still held as of
1/31/2019
 
Investments in Securities:
                     
Loan Assignments(c)
                   
Food Service
$40
$
$—
$
$
$—
$—
$(40)
$—
$
 
Health
Care
(11)
227
216
(11)
 
Lodging & Casinos
205
(12)
1
(194)
 
Total
$245
$
$(12)
$(10)
$
$(194)
$227
$(40)
$216
$(11)
 

(c)
Securities categorized as Level 3 are valued based on single quotation obtained from a dealer. The Fund does not have access to unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.

^
A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.

 
See Notes to Schedule of Investments

Schedule of Investments Strategic Income Fund^
(Unaudited) January 31, 2019
 
 
NUMBER OF
SHARES
   
VALUE
     
(000's omitted)
Common Stock 0.0%(a)
 
Media - Broadcast 0.0%(a)
   
4
 
Cumulus Media, Inc., Class A (Cost  $51)
$
53
*
       
PRINCIPAL
AMOUNT
(b)
     
(000's omitted)
     
 
Loan Assignments(c) 1.6%
 
Automotive 0.0%(a)
 
$
707
 
ABRA, First Lien Term Loan, (2 month USD LIBOR + 3.00%), 5.62%, due 9/17/21
 
704
 
   
115
 
Wand Intermediate I LP, Second Lien Term Loan, (2 month USD LIBOR + 7.25%), 9.84%, due 9/19/22
 
114
 
 
818
 
Building & Development 0.0%(a)
       
Capital Automotive LP
     
   
492
 
First Lien Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 3/24/24
 
477
 
   
299
 
Second Lien Term Loan, (1 month USD LIBOR + 6.00%), 8.50%, due 3/24/25
 
297
 
 
774
 
Business Equipment & Services 0.3%
       
Advantage Sales and Marketing
     
   
536
 
First Lien Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 7/23/21
 
469
 
   
245
 
Second Lien Term Loan, (1 month USD LIBOR + 6.50%), 9.00%, due 7/25/22
 
184
 
   
618
 
Ceridian HCM Holding Inc., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 4/30/25
 
610
 
   
814
 
Change Healthcare Holdings, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 3/1/24
 
796
 
   
216
 
Dorna Sports, S.L., Term Loan B, (USD LIBOR + 3.00%), due 4/12/24
 
210
(d)(e)(f)
   
720
 
Duff & Phelps Corporation, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 2/13/25
 
693
 
   
736
 
Garda World Security, Term Loan, (3 month USD LIBOR + 3.50%), 6.24%, due 5/24/24
 
722
 
   
776
 
Greeneden U.S. Holdings II, LLC, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 12/1/23
 
756
 
   
822
 
Kronos, Term Loan B, (3 month USD LIBOR + 3.00%), 5.54%, due 11/1/23
 
805
 
   
826
 
Minimax GmbH & Co. KG, Term Loan B1C, (1 month USD LIBOR + 3.00%), 5.50%, due 7/31/25
 
818
 
   
785
 
Solera, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 3/3/23
 
768
 
   
588
 
Tempo Acquisition, Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 5/1/24
 
577
 
   
871
 
West, Term Loan, (1 month USD LIBOR + 4.00%), 6.50%, due 10/10/24
 
798
 
 
8,206
 
Cable & Satellite Television 0.1%
   
534
 
Altice France S.A., Term Loan B13, (1 month USD LIBOR + 4.00%), 6.51%, due 8/14/26
 
503
 
   
590
 
Ziggo, Term Loan E, (1 month USD LIBOR + 2.50%), 5.01%, due 4/15/25
 
570
 
 
1,073
 
Chemicals & Plastics 0.0%(a)
   
565
 
Starfruit Finco B.V, Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 10/1/25
 
552
 
 
Containers & Glass Products 0.1%
   
793
 
BWAY Corporation, Term Loan B, (3 month USD LIBOR + 3.25%), 6.03%, due 4/3/24
 
764
 
   
316
 
Proampac, First Lien Term Loan, (USD LIBOR + 3.50%), 6.10%, due 11/18/23
 
306
(g)
 
 
615
 
Trident TPI Holdings, Inc., Term Loan B1, (1 month USD LIBOR + 3.25%), 5.75%, due 10/17/24
 
592
 
 
1,662
 
Diversified Insurance 0.0%(a)
   
790
 
Sedgwick Claims Management Services, Inc., Term Loan B, (1 month USD LIBOR + 3.25%), 5.75%, due 12/31/25
 
769
 
 
Drugs 0.1%
   
838
 
Endo Luxembourg Finance Company I S.a.r.l., Term Loan B, (1 month USD LIBOR + 4.25%), 6.75%, due 4/29/24
 
829
 
   
686
 
Valeant Pharmaceuticals International, Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.51%, due 6/2/25
 
678
 
 
1,507
 
Electronics - Electrical 0.3%
   
799
 
Avast Software B.V., Term Loan B, (3 month USD LIBOR + 2.50%), 5.30%, due 9/30/23
 
788
 
   
160
 
Hyland Software, Inc., Second Lien Term Loan, (1 month USD LIBOR + 7.00%), 9.50%, due 7/7/25
 
159
 
   
200
 
IFS, Term Loan B, (3 month USD LIBOR + 3.75%), 6.56%, due 7/31/24
 
194
 
   
777
 
Infor Global Solutions Ltd., Term Loan B6, (1 month USD LIBOR + 2.75%), 5.25%, due 2/1/22
 
772
 
   
576
 
Rackspace Hosting, Inc., First Lien Term Loan, (3 month USD LIBOR + 3.00%), 5.58%, due 11/3/23
 
533
 
   
791
 
Riverbed Technology, Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 4/24/22
 
723
 
   
702
 
Sophia LP, Term Loan B, (3 month USD LIBOR + 3.25%), 6.05%, due 9/30/22
 
686
 
   
535
 
SS&C Technologies Holdings Europe S.A.R.L., Term Loan B4, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
524
 
   
1,392
 
SS&C Technologies Inc., Term Loan B3, (1 month USD LIBOR + 2.25%), 4.75%, due 4/16/25
 
1,362
 
   
655
 
Vertafore, Inc., First Lien Term Loan, (3 month USD LIBOR + 3.25%), 6.05%, due 7/2/25
 
635
 
 
6,376
 
Financial Intermediaries 0.0%(a)
   
607
 
LPL Holdings, Inc., First Lien Term Loan B, (1 month USD LIBOR + 2.25%), 4.75%, due 9/23/24
 
600
 
 
Food & Drug Retailers 0.0%(a)
   
667
 
Albertsons LLC, Term Loan B6, (3 month USD LIBOR + 3.00%), 5.69%, due 6/22/23
 
657
 
 
Food Products 0.0%(a)
   
792
 
Nomad Foods Europe Midco Ltd., Term Loan B4, (1 month USD LIBOR + 2.25%), 4.76%, due 5/15/24
 
769
 
 
Health Care 0.1%
   
355
 
Auris Luxembourg III S.a.r.l., Term Loan B, (USD LIBOR + 3.75%), due 7/20/25
 
353
(d)(e)
   
422
 
Concentra Inc., First Lien Term Loan, (1 month USD LIBOR + 2.75%), 5.27%, due 6/1/22
 
418
 
   
325
 
Concentra Operating Company, Second Lien Term Loan, (1 month USD LIBOR + 6.50%), 9.02%, due 6/1/23
 
323
 
   
650
 
Envision Healthcare Corporation, First Lien Term Loan, (1 month USD LIBOR + 3.75%), 6.25%, due 10/10/25
 
611
 
   
771
 
Multiplan, Inc., Term Loan B, (3 month USD LIBOR + 2.75%), 5.55%, due 6/7/23
 
746
 
 
2,451
 
Industrial Equipment 0.1%
       
Brookfield WEC Holdings Inc.
     
 
 
530
 
First Lien Term Loan, (1 month USD LIBOR + 3.75%), 6.25%, due 8/1/25
 
527
 
   
70
 
Second Lien Term Loan, (1 month USD LIBOR + 6.75%), 9.25%, due 8/3/26
 
70
 
       
Crosby Worldwide
     
   
940
 
First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 11/23/20
 
869
 
   
55
 
Second Lien Term Loan, (1 month USD LIBOR + 6.00%), 8.50%, due 11/22/21
 
48
 
   
755
 
Filtration Group Corporation, First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.50%, due 3/29/25
 
748
 
   
588
 
Pro Mach Group, Inc., Term Loan B, (1 month USD LIBOR + 3.00%), 5.51%, due 3/7/25
 
568
 
 
2,830
 
Leisure Goods - Activities - Movies 0.0%(a)
   
720
 
Formula One, Term Loan, (1 month USD LIBOR + 2.50%), 5.00%, due 2/1/24
 
691
 
 
Lodging & Casinos 0.1%
       
Golden Entertainment
     
   
286
 
First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.51%, due 10/21/24
 
280
 
   
327
 
Second Lien Term Loan, (1 month USD LIBOR + 7.00%), 9.50%, due 10/20/25
 
319
 
       
Mohegan Tribal Gaming
     
   
183
 
Term Loan A, (1 month USD LIBOR + 3.75%), 6.25%, due 10/13/21
 
175
 
   
551
 
Term Loan B, (1 month USD LIBOR + 4.00%), 6.50%, due 10/13/23
 
511
 
   
621
 
Twin Rivers Casino, Term Loan B, (3 month USD LIBOR + 3.50%), 6.30%, due 7/10/20
 
617
 
 
1,902
 
Oil & Gas 0.1%
   
465
 
Gavilan Resources, Second Lien Term Loan, (1 month USD LIBOR + 6.00%), 8.52%, due 3/1/24
 
372
 
   
844
 
Lucid Energy Group II LLC, First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.52%, due 2/17/25
 
791
 
   
654
 
Medallion Midland, First Lien Term Loan, (1 month USD LIBOR + 3.25%), 5.75%, due 10/30/24
 
627
 
 
1,790
 
Property & Casualty Insurance 0.0%(a)
   
488
 
Asurion LLC, Term Loan B7, (1 month USD LIBOR + 3.00%), 5.50%, due 11/3/24
 
479
 
 
Publishing 0.0%(a)
   
548
 
Harland Clark Holdings Corp., Term Loan B7, (3 month USD LIBOR + 4.75%), 7.55%, due 11/3/23
 
509
 
 
Radio & Television 0.0%(a)
   
495
 
Cumulus Media New Holdings Inc., Term Loan, (1 month USD LIBOR + 4.50%), 7.00%, due 5/15/22
 
477
(d)(e)
   
517
 
Univision Communications Inc., Term Loan C5, (1 month USD LIBOR + 2.75%), 5.25%, due 3/15/24
 
481
 
 
958
 
Retailers (except food & drug) 0.1%
   
699
 
Bass Pro Shops, Term Loan B, (1 month USD LIBOR + 5.00%), 7.50%, due 9/25/24
 
690
 
 
 
703
 
BJS Wholesale Club Inc., First Lien Term Loan, (1 month USD LIBOR + 3.00%), 5.51%, due 2/3/24
 
696
 
       
EG Finco Limited
     
   
675
 
Term Loan, (3 month USD LIBOR + 4.00%), 6.81%, due 2/7/25
 
651
 
   
95
 
Second Lien Term Loan, (3 month USD LIBOR + 8.00%), 10.81%, due 4/20/26
 
92
 
 
2,129
 
Steel 0.0%(a)
   
645
 
MRC Global (US) Inc., First Lien Term Loan B, (1 month USD LIBOR + 3.00%), 5.50%, due 9/20/24
 
639
(h)
 
Telecommunications 0.1%
   
712
 
Centurylink, Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 1/31/25
 
680
 
       
Frontier Communications Corp.
     
   
18
 
Term Loan A, (1 month USD LIBOR + 2.75%), 5.25%, due 3/31/21
 
17
 
   
405
 
Term Loan B1, (1 month USD LIBOR + 3.75%), 6.25%, due 6/15/24
 
387
 
   
715
 
GTT Communications, Inc., Term Loan B, (1 month USD LIBOR + 2.75%), 5.25%, due 5/31/25
 
669
 
       
Intelsat Jackson HLDG
     
   
777
 
Term Loan B3, (1 month USD LIBOR + 3.75%), 6.25%, due 11/27/23
 
770
 
   
63
 
Term Loan B4, (1 month USD LIBOR + 4.50%), 7.00%, due 1/2/24
 
63
 
   
120
 
Syniverse Holdings, Inc., Second Lien Term Loan, (1 month USD LIBOR + 9.00%), 11.51%, due 3/11/24
 
102
 
 
2,688
 
Utilities 0.1%
   
747
 
Nautilus Power LLC, Term Loan B, (1 month USD LIBOR + 4.25%), 6.75%, due 5/16/24
 
741
 
   
563
 
TPF II, Term Loan B, (1 month USD LIBOR + 3.75%), 6.25%, due 10/2/23
 
549
 
 
1,290
 
 
 
Total Loan Assignments (Cost $43,537)
 
42,119
 
 
U.S. Treasury Obligations 17.6%
   
16,600
 
U.S. Treasury Bill, 2.33%, due 2/28/19
 
16,571
(i)(j)
       
U.S. Treasury Bonds
     
   
11,345
 
 5.38%, due 2/15/31
 
14,467
 
   
9,975
 
 3.88%, due 8/15/40
 
11,511
 
       
U.S. Treasury Inflation-Indexed Bonds(k)
     
   
26,067
 
 2.00%, due 1/15/26
 
28,296
 
   
39,071
 
 3.63%, due 4/15/28
 
48,804
 
   
11,922
 
 2.50%, due 1/15/29
 
13,854
 
   
62,988
 
 3.88%, due 4/15/29
 
81,712
 
   
18,894
 
 3.38%, due 4/15/32
 
24,850
 
   
22,404
 
 1.00%, due 2/15/46
 
21,933
 
       
U.S. Treasury Notes
     
   
29,000
 
 1.38%, due 1/15/20
 
28,676
 
   
46,735
 
 2.13%, due 12/31/21
 
46,335
 
   
21,280
 
 2.38%, due 8/15/24
 
21,170
 
   
115,810
 
 2.25%, due 11/15/27
 
112,535
 
 
 
Total U.S. Treasury Obligations (Cost $476,629)
 
470,714
 
 
U.S. Government Agency Securities 0.1%
   
2,030
 
Federal National Mortgage Association, 5.63%, due 7/15/37 (Cost  $2,835)
 
2,682
 
 
Mortgage-Backed Securities 36.5%
 
Collateralized Mortgage Obligations 7.3%
 
 
501
 
Angel Oak Mortgage Trust LLC, Ser. 2017-3, Class A1, 2.71%, due 11/25/47
 
497
(l)(m)
       
Fannie Mae Connecticut Avenue Securities
     
   
19,918
 
Ser. 2017-C02, Class 2M2, (1 month USD LIBOR + 3.65%), 6.16%, due 9/25/29
 
21,487
(c)(n)
   
16,585
 
Ser. 2017-C03, Class 1M2, (1 month USD LIBOR + 3.00%), 5.51%, due 10/25/29
 
17,539
(c)
   
6,598
 
Ser. 2017-C04, Class 2M2, (1 month USD LIBOR + 2.85%), 5.36%, due 11/25/29
 
6,827
(c)
   
8,950
 
Ser. 2017-C06, Class 1M2, (1 month USD LIBOR + 2.65%), 5.16%, due 2/25/30
 
9,258
(c)
   
10,770
 
Ser. 2017-C06, Class 2M2, (1 month USD LIBOR + 2.80%), 5.31%, due 2/25/30
 
11,088
(c)
   
2,670
 
Ser. 2017-C07, Class 1M2, (1 month USD LIBOR + 2.40%), 4.91%, due 5/25/30
 
2,721
(c)
   
16,691
 
Ser. 2017-C07, Class 2M2, (1 month USD LIBOR + 2.50%), 5.01%, due 5/25/30
 
16,992
(c)(n)
   
12,430
 
Ser. 2018-C01, Class 1M2, (1 month USD LIBOR + 2.25%), 4.76%, due 7/25/30
 
12,533
(c)
   
10,400
 
Ser. 2018-C02, Class 2M2, (1 month USD LIBOR + 2.20%), 4.71%, due 8/25/30
 
10,379
(c)
       
Freddie Mac Multifamily Structured Pass Through Certificates
     
   
70,984
 
Ser. K083, Class XAM, 0.05%, due 10/25/28
 
594
(m)(o)
   
77,922
 
Ser. K085, Class XAM, 0.06%, due 10/25/28
 
724
(m)(o)
       
Freddie Mac Structured Agency Credit Risk Debt Notes
     
   
9,610
 
Ser. 2017-DNA1, Class M2, (1 month USD LIBOR + 3.25%), 5.76%, due 7/25/29
 
10,315
(c)
   
22,826
 
Ser. 2017-DNA2, Class M2, (1 month USD LIBOR + 3.45%), 5.96%, due 10/25/29
 
24,636
(c)
   
9,935
 
Ser. 2017-HQA2, Class M2, (1 month USD LIBOR + 2.65%), 5.16%, due 12/25/29
 
10,240
(c)(n)
   
13,819
 
Ser. 2017-DNA3, Class M2, (1 month USD LIBOR + 2.50%), 5.01%, due 3/25/30
 
14,194
(c)
   
3,250
 
Ser. 2017-HQA3, Class M2, (1 month USD LIBOR + 2.35%), 4.86%, due 4/25/30
 
3,296
(c)
   
5,680
 
Ser. 2018-DNA1, Class M2, (1 month USD LIBOR + 1.80%), 4.31%, due 7/25/30
 
5,591
(c)(n)
   
15,275
 
Ser. 2018-HQA1, Class M2, (1 month USD LIBOR + 2.30%), 4.81%, due 9/25/30
 
15,159
(c)
   
489
 
JP Morgan Alternative Loan Trust, Ser. 2006-A5, Class 1A1, (1 month USD LIBOR + 0.16%), 2.67%, due 10/25/36
 
466
(c)
   
1,000
 
Permanent Master Issuer PLC, Ser. 2018-1A, Class 1A1, (3 month USD LIBOR + 0.38%), 3.17%, due 7/15/58
 
997
(c)(l)
 
195,533
 
Commercial Mortgage-Backed 1.7%
   
1,000
 
BXMT Ltd., Ser. 2017-FL1, Class A, (1 month USD LIBOR + 0.87%), 3.38%, due 6/15/35
 
1,001
(c)(l)
       
Citigroup Commercial Mortgage Trust
     
 
 
5,735
 
Ser. 2012-GC8, Class XA, 1.79%, due 9/10/45
 
280
(l)(m)(o)
   
2,200
 
Ser. 2012-GC8, Class AAB, 2.61%, due 9/10/45
 
2,186
 
   
1,000
 
Ser. 2012-GC8, Class B, 4.29%, due 9/10/45
 
1,018
(l)
   
54,344
 
Ser. 2014-GC25, Class XA, 1.01%, due 10/10/47
 
2,578
(m)(o)
   
31,608
 
Ser. 2015-GC27, Class XA, 1.38%, due 2/10/48
 
2,020
(m)(o)
       
Commercial Mortgage Loan Trust
     
   
34,352
 
Ser. 2014-CR17, Class XA, 1.06%, due 5/10/47
 
1,317
(m)(o)
   
1,000
 
Ser. 2015-CR26, Class A4, 3.63%, due 10/10/48
 
1,015
 
   
31,110
 
Commercial Mortgage Pass-Through Certificates, Ser. 2013-LC6, Class XB, 0.33%, due 1/10/46
 
421
(l)(m)(o)
       
Commercial Mortgage Trust
     
   
36,039
 
Ser. 2012-CR2, Class XA, 1.65%, due 8/15/45
 
1,704
(m)(o)
   
167
 
Ser. 2012-CR3, Class XA, 1.87%, due 10/15/45
 
9
(m)(o)
   
34,000
 
Ser. 2013-CR6, Class XB, 0.54%, due 3/10/46
 
687
(m)(o)
   
38,057
 
Ser. 2014-CR16, Class XA, 1.11%, due 4/10/47
 
1,415
(m)(o)
   
49,868
 
Ser. 2014-UBS3, Class XA, 1.27%, due 6/10/47
 
2,088
(m)(o)
   
2,784
 
Ser. 2014-CR19, Class A1, 1.42%, due 8/10/47
 
2,775
 
   
51,773
 
Ser. 2014-UBS6, Class XA, 0.95%, due 12/10/47
 
2,052
(m)(o)
       
CSAIL Commercial Mortgage Trust
     
   
9,289
 
Ser. 2018-CX11, Class A1, 2.89%, due 4/15/51
 
9,253
 
   
36,383
 
Ser. 2015-C2, Class XA, 0.80%, due 6/15/57
 
1,382
(m)(o)
       
GS Mortgage Securities Trust
     
   
268
 
Ser. 2011-GC5, Class XA, 1.34%, due 8/10/44
 
7
(l)(m)(o)
   
62,992
 
Ser. 2014-GC18, Class XA, 1.04%, due 1/10/47
 
2,644
(m)(o)
   
54,543
 
Ser. 2015-GC30, Class XA, 0.86%, due 5/10/50
 
1,937
(m)(o)
   
823
 
Morgan Stanley Capital I Trust, Ser. 2011-C3, Class XA, 0.78%, due 7/15/49
 
11
(l)(m)(o)
       
WF-RBS Commercial Mortgage Trust
     
   
8,745
 
Ser. 2011-C2, Class XA, 0.78%, due 2/15/44
 
117
(l)(m)(o)
   
223
 
Ser. 2012-C6, Class XA, 2.08%, due 4/15/45
 
11
(l)(m)(o)
   
102,868
 
Ser. 2013-C14, Class XB, 0.14%, due 6/15/46
 
861
(m)(o)
   
40,518
 
Ser. 2014-C21, Class XA, 1.07%, due 8/15/47
 
1,697
(m)(o)
   
61,383
 
Ser. 2014-C25, Class XA, 0.89%, due 11/15/47
 
2,325
(m)(o)
   
18,152
 
Ser. 2014-C22, Class XA, 0.85%, due 9/15/57
 
632
(m)(o)
 
43,443
 
Fannie Mae 14.1%
 
       
Pass-Through Certificates
     
   
6
 
5.00%, due 6/1/40 – 7/1/40
 
7
 
   
77
 
6.00%, due 9/1/33 – 9/1/40
 
84
 
   
1
 
6.50%, due 9/1/32
 
1
 
   
1
 
7.50%, due 12/1/32
 
1
 
   
53,625
 
3.50%, TBA, 30 Year Maturity
 
53,892
(p)
   
218,185
 
4.00%, TBA, 30 Year Maturity
 
223,328
(p)
   
80,380
 
4.50%, TBA, 30 Year Maturity
 
83,515
(p)
   
15,835
 
5.00%, TBA, 30 Year Maturity
 
16,653
(p)
 
377,481
 
Freddie Mac 10.6%
 
       
Pass-Through Certificates
     
   
7
 
5.00%, due 12/1/28
 
7
 
   
74,825
 
3.50%, TBA, 30 Year Maturity
 
75,244
(p)
   
149,430
 
4.00%, TBA, 30 Year Maturity
 
153,032
(p)
   
48,000
 
4.50%, TBA, 30 Year Maturity
 
49,895
(p)
   
5,125
 
5.00%, TBA, 30 Year Maturity
 
5,389
(p)
 
283,567
 
Ginnie Mae 2.8%
       
Pass-Through Certificates
     
 
 
 
 6.50%, due 7/15/32
 
1
 
   
1
 
 7.00%, due 8/15/32
 
1
 
   
23,950
 
4.00%, TBA, 30 Year Maturity
 
24,633
(p)
   
37,825
 
4.50%, TBA, 30 Year Maturity
 
39,259
(p)
   
10,475
 
5.00%, TBA, 30 Year Maturity
 
10,933
(p)
 
74,827
 
 
 
Total Mortgage-Backed Securities (Cost $988,930)
 
974,851
 
 
Corporate Bonds 50.3%
 
Advertising 0.3%
   
290
 
Clear Channel Worldwide Holdings, Inc., Ser. A, 6.50%, due 11/15/22
 
296
 
       
Lamar Media Corp.
     
   
265
 
5.00%, due 5/1/23
 
267
 
   
60
 
5.38%, due 1/15/24
 
61
 
   
275
 
5.75%, due 2/1/26
 
285
 
   
295
 
MDC Partners, Inc., 6.50%, due 5/1/24
 
268
(l)(n)
       
Nielsen Co. Luxembourg SARL
     
   
1,000
 
5.50%, due 10/1/21
 
1,008
(l)
   
815
 
5.00%, due 2/1/25
 
809
(l)
       
Nielsen Finance LLC/Nielsen Finance Co.
     
   
1,115
 
4.50%, due 10/1/20
 
1,112
 
   
2,170
 
5.00%, due 4/15/22
 
2,167
(l)(n)
       
Outfront Media Capital LLC/Outfront Media Capital Corp.
     
   
305
 
5.25%, due 2/15/22
 
308
 
   
590
 
5.63%, due 2/15/24
 
597
(n)
   
700
 
5.88%, due 3/15/25
 
707
(n)
 
7,885
 
Aerospace & Defense 0.1%
   
570
 
BBA US Holdings, Inc., 5.38%, due 5/1/26
 
570
(l)(n)
 
EUR
449
 
Leonardo-Finmeccanica SpA, 4.50%, due 1/19/21
 
552
 
 
$
1,445
 
TransDigm, Inc., 6.25%, due 3/15/26
 
1,467
(l)(q)
 
2,589
 
Agriculture 0.6%
   
18,195
 
BAT Capital Corp., 4.54%, due 8/15/47
 
14,934
 
 
Airlines 0.0%(a)
   
650
 
Unity 1 Sukuk Ltd., 3.86%, due 11/30/21
 
650
(r)
 
Apparel 0.1%
 
EUR
475
 
Hanesbrands Finance Luxembourg SCA, 3.50%, due 6/15/24
 
561
(r)
 
EUR
605
 
Levi Strauss & Co., 3.38%, due 3/15/27
 
709
 
 
EUR
1,160
 
PVH Corp., 3.13%, due 12/15/27
 
1,291
(r)
 
2,561
 
Auto Manufacturers 0.9%
 
$
10,185
 
General Motors Financial Co., Inc., 5.10%, due 1/17/24
 
10,351
 
 
EUR
3,075
 
Volkswagen Bank GmbH, 1.25%, due 12/15/25
 
3,327
(n)(r)
       
Volkswagen Int'l Finance NV
     
 
EUR
765
 
(7 year EUR Swap + 2.20%), 2.45%, due 3/20/22
 
862
(c)(r)(s)
 
EUR
5,200
 
(5 year EUR Swap + 2.54%), 2.70%, due 12/14/22
 
5,785
(c)(n)(r)(s)
 
EUR
2,200
 
(6 year EUR Swap + 2.97%), 3.38%, due 6/27/24
 
2,424
(c)(n)(r)(s)
 
EUR
700
 
(10 year EUR Swap + 3.37%), 3.88%, due 6/14/27
 
747
(c)(r)(s)
 
23,496
 
Auto Parts & Equipment 0.2%
 
$
250
 
American Axle & Manufacturing, Inc., 7.75%, due 11/15/19
 
256
(n)
 
EUR
414
 
Faurecia SA, 2.63%, due 6/15/25
 
453
(r)
 
EUR
650
 
Goodyear Dunlop Tires Europe BV, 3.75%, due 12/15/23
 
748
(r)
 
$
440
 
Goodyear Tire & Rubber Co., 5.13%, due 11/15/23
 
439
(n)
       
IHO Verwaltungs GmbH
     
   
220
 
4.13% Cash/4.88% PIK, due 9/15/21
 
215
(l)(t)
   
430
 
4.50% Cash/5.25% PIK, due 9/15/23
 
410
(l)(t)
   
110
 
LKQ Corp., 4.75%, due 5/15/23
 
111
 
 
EUR
993
 
LKQ Italia Bondco SpA, 3.88%, due 4/1/24
 
1,176
(r)
 
EUR
921
 
Tenneco, Inc., 4.88%, due 4/15/22
 
1,080
(r)
 
$
457
 
ZF N.A. Capital, Inc., 4.00%, due 4/29/20
 
455
(l)
 
5,343
 
Banking 0.4%
       
Ally Financial, Inc.
     
   
4,040
 
8.00%, due 3/15/20
 
4,227
(n)
   
1,090
 
7.50%, due 9/15/20
 
1,149
(n)
   
865
 
4.25%, due 4/15/21
 
870
(n)
   
120
 
4.13%, due 2/13/22
 
120
(n)
       
CIT Group, Inc.
     
   
1,270
 
4.13%, due 3/9/21
 
1,273
 
   
1,350
 
5.00%, due 8/15/22
 
1,384
(n)
   
665
 
4.75%, due 2/16/24
 
673
(n)
 
9,696
 
Banks 9.9%
 
EUR
1,700
 
ABN AMRO Bank NV, (5 year EUR Swap + 3.90), 4.75%, due 9/22/27
 
1,822
(c)(r)(s)
 
$
300
 
Akbank T.A.S., 4.00%, due 1/24/20
 
296
(r)
   
400
 
Banco Bradesco SA, 6.75%, due 9/29/19
 
408
(r)
   
200
 
Banco Davivienda SA, 5.88%, due 7/9/22
 
210
(r)
   
2,300
 
Banco de Credito e Inversiones, 3.50%, due 10/12/27
 
2,164
(l)(n)
   
221
 
Banco del Estado de Chile, 2.67%, due 1/8/21
 
217
(l)(n)
       
Banco do Brasil SA
     
   
224
 
4.88%, due 4/19/23
 
226
(l)(n)
   
300
 
4.88%, due 4/19/23
 
303
(r)
   
150
 
Banco Int'l del Peru SAA Interbank, 3.38%, due 1/18/23
 
146
(r)
   
6,895
 
Banco Santander SA, 3.80%, due 2/23/28
 
6,451
(n)
   
122
 
Bancolombia SA, 5.95%, due 6/3/21
 
127
(n)
       
Bank of America Corp.
     
   
10,710
 
(3 month USD LIBOR + 0.37%), 2.74%, due 1/23/22
 
10,626
(c)(n)
   
9,775
 
(3 month USD LIBOR + 1.51%), 3.71%, due 4/24/28
 
9,660
(c)(n)
   
7,345
 
(3 month USD LIBOR + 1.07%), 3.97%, due 3/5/29
 
7,387
(c)(n)
   
5,920
 
Barclays PLC, 4.38%, due 1/12/26
 
5,819
(n)
       
BBVA Bancomer SA
     
   
800
 
7.25%, due 4/22/20
 
828
(r)
   
200
 
6.75%, due 9/30/22
 
213
(r)
   
250
 
China CITIC Bank Int'l Ltd., 6.88%, due 6/24/20
 
260
(r)
   
200
 
China Construction Bank Asia Corp. Ltd., (5 year CMT + 2.75%), 4.25%, due 8/20/24
 
201
(c)(r)
       
Citigroup, Inc.
     
 
 
13,835
 
(3 month USD LIBOR + 1.56%), 3.89%, due 1/10/28
 
13,778
(c)(n)
   
5,165
 
(3 month USD LIBOR + 1.15%), 3.52%, due 10/27/28
 
4,995
(c)(n)
 
GBP
2,980
 
CYBG PLC, (5 year GBP Swap + 6.25%), 8.00%, due 12/8/22
 
3,611
(c)(n)(r)(s)
       
DIB Sukuk Ltd.
     
 
$
600
 
2.92%, due 6/3/20
 
592
(r)
   
400
 
3.60%, due 3/30/21
 
397
(r)
   
200
 
Emirates NBD PJSC, 3.25%, due 11/19/19
 
199
(r)
       
Goldman Sachs Group, Inc.
     
   
4,480
 
2.60%, due 4/23/20
 
4,456
(n)
   
9,160
 
(3 month USD LIBOR + 1.51%), 3.69%, due 6/5/28
 
8,892
(c)(n)
   
17,510
 
(3 month USD LIBOR + 1.16%), 3.81%, due 4/23/29
 
17,047
(c)(n)
   
7,220
 
(3 month USD LIBOR + 1.37%), 4.02%, due 10/31/38
 
6,809
(c)(n)
   
7,095
 
5.15%, due 5/22/45
 
7,260
(n)
   
200
 
Grupo Aval Ltd., 4.75%, due 9/26/22
 
197
(r)
   
650
 
Gulf Int'l Bank BSC, 3.50%, due 3/25/22
 
631
(r)
   
14,150
 
HSBC Holdings PLC, (5 year USD ICE Swap + 3.75%), 6.00%, due 5/22/27
 
13,619
(c)(n)(s)
   
400
 
IDBI Bank Ltd./GIFT-IFC, 4.25%, due 11/30/20
 
395
(r)
   
600
 
Itau CorpBanca, 3.88%, due 9/22/19
 
602
(r)
       
JPMorgan Chase & Co.
     
   
11,750
 
(3 month USD LIBOR + 1.12%), 4.01%, due 4/23/29
 
11,882
(c)(n)
   
6,785
 
(3 month USD LIBOR + 1.36%), 3.88%, due 7/24/38
 
6,495
(c)(n)
   
6,230
 
(3 month USD LIBOR + 1.22%), 3.90%, due 1/23/49
 
5,816
(c)(n)
   
600
 
KEB Hana Bank, (3 month USD LIBOR + 0.73%), 3.52%, due 4/5/20
 
601
(c)(r)
       
Morgan Stanley
     
   
4,915
 
Ser. H, (3 month USD LIBOR + 3.61%), 5.45%, due 7/15/19
 
4,921
(c)(n)(s)
   
16,385
 
(3 month USD LIBOR + 1.34%), 3.59%, due 7/22/28
 
15,999
(c)(n)
 
DKK
187,529
 
Nykredit Realkredit A/S, 2.00%, due 10/1/47
 
29,221
(n)(r)
 
$
200
 
QIB Sukuk Ltd., 3.25%, due 5/23/22
 
195
(r)
       
QNB Finance Ltd.
     
   
400
 
2.88%, due 4/29/20
 
396
(r)
   
200
 
(3 month USD LIBOR + 1.35%), 4.06%, due 5/31/21
 
201
(c)(r)
 
DKK
165,089
 
Realkredit Danmark A/S, 2.00%, due 10/1/47
 
25,501
(n)(r)
       
Royal Bank of Scotland Group PLC
     
 
$
9,850
 
4.80%, due 4/5/26
 
9,874
 
   
4,275
 
(3 month USD LIBOR + 1.91%), 5.08%, due 1/27/30
 
4,284
(c)(n)
   
200
 
Shinhan Bank Co. Ltd., (5 year CMT + 2.15%), 3.88%, due 12/7/26
 
199
(c)(r)
       
TC Ziraat Bankasi A/S
     
   
500
 
4.25%, due 7/3/19
 
496
(r)
   
550
 
5.13%, due 5/3/22
 
512
(r)
   
2,240
 
Trade & Development Bank of Mongolia LLC, 9.38%, due 5/19/20
 
2,332
(n)(r)
   
1,000
 
Turkiye Garanti Bankasi A/S, 4.75%, due 10/17/19
 
994
(r)
   
200
 
Turkiye Is Bankasi AS, 5.50%, due 4/21/19
 
200
(r)
   
200
 
Turkiye Vakiflar Bankasi TAO, 5.50%, due 10/27/21
 
192
(r)
   
14,520
 
Westpac Banking Corp., (5 year USD ICE Swap + 2.89%), 5.00%, due 9/21/27
 
12,576
(c)(n)(s)
       
Yapi ve Kredi Bankasi A/S
     
 
 
800
 
5.13%, due 10/22/19
 
793
(r)
   
200
 
5.75%, due 2/24/22
 
191
(r)
   
300
 
Zenith Bank PLC, 6.25%, due 4/22/19
 
300
(r)
 
265,015
 
Beverages 1.7%
   
5,025
 
Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, Inc., 4.70%, due 2/1/36
 
4,817
(l)(n)
       
Anheuser-Busch InBev Worldwide, Inc.
     
   
6,005
 
4.60%, due 4/15/48
 
5,460
(n)
   
12,565
 
4.75%, due 4/15/58
 
11,184
(n)
   
21,975
 
5.80%, due 1/23/59
 
23,066
(n)
 
44,527
 
Brokerage 0.1%
   
1,445
 
LPL Holdings, Inc., 5.75%, due 9/15/25
 
1,421
(l)(n)
 
Building & Construction 0.3%
       
Lennar Corp.
     
   
425
 
4.50%, due 11/15/19
 
423
 
   
320
 
8.38%, due 1/15/21
 
345
 
   
660
 
4.75%, due 4/1/21
 
667
 
   
45
 
4.13%, due 1/15/22
 
45
 
   
570
 
5.38%, due 10/1/22
 
584
 
   
765
 
4.75%, due 11/15/22
 
768
 
   
700
 
4.88%, due 12/15/23
 
700
 
   
365
 
5.25%, due 6/1/26
 
356
 
   
240
 
Meritage Homes Corp., 7.15%, due 4/15/20
 
248
 
   
910
 
PulteGroup, Inc., 4.25%, due 3/1/21
 
923
 
       
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc.
     
   
885
 
5.25%, due 4/15/21
 
886
(l)
   
615
 
5.63%, due 3/1/24
 
598
(l)
       
Toll Brothers Finance Corp.
     
   
390
 
5.88%, due 2/15/22
 
406
 
   
560
 
4.38%, due 4/15/23
 
549
 
   
105
 
5.63%, due 1/15/24
 
108
 
   
465
 
4.88%, due 3/15/27
 
448
 
   
550
 
4.35%, due 2/15/28
 
500
 
       
TRI Pointe Group, Inc.
     
   
390
 
4.88%, due 7/1/21
 
384
 
   
220
 
5.25%, due 6/1/27
 
190
 
 
9,128
 
Building Materials 0.1%
   
140
 
Beacon Roofing Supply, Inc., 6.38%, due 10/1/23
 
144
(n)
   
250
 
Cementos Progreso Trust, 7.13%, due 11/6/23
 
257
(r)
 
EUR
674
 
CEMEX Finance LLC, 4.63%, due 6/15/24
 
803
(r)
 
EUR
135
 
Cemex SAB de CV, 2.75%, due 12/5/24
 
150
(r)
 
$
605
 
HD Supply, Inc., 5.38%, due 10/15/26
 
608
(l)
   
120
 
Jeld-Wen, Inc., 4.88%, due 12/15/27
 
106
(l)
   
111
 
Masonite Int'l Corp., 5.63%, due 3/15/23
 
112
(l)
   
360
 
USG Corp., 5.50%, due 3/1/25
 
366
(l)
 
2,546
 
Cable & Satellite Television 1.0%
   
510
 
Altice Financing SA, 6.63%, due 2/15/23
 
513
(l)
   
1,380
 
Altice France SA, 8.13%, due 2/1/27
 
1,359
(l)
       
Altice Luxembourg SA
     
 
 
1,800
 
7.75%, due 5/15/22
 
1,746
(l)(n)
   
830
 
7.63%, due 2/15/25
 
706
(l)(n)
   
670
 
Cable One, Inc., 5.75%, due 6/15/22
 
681
(l)(n)
       
CCO Holdings LLC/CCO Holdings Capital Corp.
     
   
850
 
5.25%, due 9/30/22
 
859
(n)
   
1,215
 
5.13%, due 2/15/23
 
1,227
(n)
   
70
 
4.00%, due 3/1/23
 
68
(l)(n)
   
1,520
 
5.13%, due 5/1/23
 
1,540
(l)(n)
   
180
 
5.75%, due 1/15/24
 
184
(n)
   
705
 
5.88%, due 4/1/24
 
723
(l)(n)
   
1,500
 
5.75%, due 2/15/26
 
1,526
(l)(n)
   
1,220
 
5.00%, due 2/1/28
 
1,159
(l)(n)
       
CSC Holdings LLC
     
   
340
 
6.75%, due 11/15/21
 
357
(n)
   
1,825
 
5.13%, due 12/15/21
 
1,828
(l)(n)
   
221
 
10.13%, due 1/15/23
 
238
(l)
   
645
 
5.38%, due 7/15/23
 
651
(l)
   
770
 
7.75%, due 7/15/25
 
807
(l)
   
365
 
6.63%, due 10/15/25
 
382
(l)
   
1,051
 
10.88%, due 10/15/25
 
1,211
(l)(n)
   
895
 
5.50%, due 5/15/26
 
886
(l)
   
470
 
5.50%, due 4/15/27
 
459
(l)(n)
   
345
 
7.50%, due 4/1/28
 
355
(l)
       
DISH DBS Corp.
     
   
1,185
 
6.75%, due 6/1/21
 
1,207
(n)
   
220
 
5.88%, due 7/15/22
 
209
(n)
   
80
 
5.00%, due 3/15/23
 
70
(n)
   
1,300
 
5.88%, due 11/15/24
 
1,077
(n)
       
Numericable-SFR SA
     
   
1,225
 
6.25%, due 5/15/24
 
1,201
(l)
   
1,615
 
7.38%, due 5/1/26
 
1,558
(l)(n)
   
765
 
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 5.00%, due 1/15/25
 
777
(l)
   
285
 
UPCB Finance IV Ltd., 5.38%, due 1/15/25
 
274
(l)
       
Virgin Media Finance PLC
     
   
530
 
5.25%, due 2/15/22
 
525
 
   
275
 
6.00%, due 10/15/24
 
279
(l)
   
930
 
Virgin Media Secured Finance PLC, 5.50%, due 8/15/26
 
914
(l)(n)
   
330
 
Ziggo BV, 5.50%, due 1/15/27
 
312
(l)(n)
 
27,868
 
Chemicals 0.7%
   
600
 
Alpek SAB de CV, 4.50%, due 11/20/22
 
598
(r)
   
120
 
Ashland LLC, 4.75%, due 8/15/22
 
121
(n)
 
EUR
168
 
Axalta Coating Systems Dutch Holding B BV, 3.75%, due 1/15/25
 
192
(r)
 
EUR
1,090
 
Axalta Coating Systems LLC, 4.25%, due 8/15/24
 
1,278
(r)
       
Bluestar Finance Holdings Ltd.
     
 
$
200
 
3.13%, due 9/30/19
 
199
(r)
   
200
 
3.50%, due 9/30/21
 
196
(r)
   
400
 
Braskem Finance Ltd., 5.75%, due 4/15/21
 
415
(r)
   
200
 
Braskem Netherlands Finance BV, 3.50%, due 1/10/23
 
194
(r)
 
EUR
391
 
CeramTec BondCo GmbH, 5.25%, due 12/15/25
 
433
(r)
 
$
345
 
CF Industries, Inc., 5.38%, due 3/15/44
 
300
(n)
       
CNAC HK Finbridge Co. Ltd.
     
 
 
200
 
3.50%, due 7/19/22
 
197
(r)
   
601
 
4.63%, due 3/14/23
 
613
(r)
   
670
 
5.13%, due 3/14/28
 
698
(r)
       
Huntsman Int'l LLC
     
   
1,230
 
4.88%, due 11/15/20
 
1,252
 
   
150
 
5.13%, due 11/15/22
 
155
 
 
EUR
801
 
4.25%, due 4/1/25
 
1,006
 
 
EUR
941
 
INEOS Finance PLC, 2.13%, due 11/15/25
 
1,015
(r)
 
$
420
 
INEOS Group Holdings SA, 5.63%, due 8/1/24
 
403
(l)
   
700
 
Mexichem SAB de CV, 4.88%, due 9/19/22
 
714
(r)
       
NOVA Chemicals Corp.
     
   
1,525
 
5.25%, due 8/1/23
 
1,483
(l)(n)
   
950
 
4.88%, due 6/1/24
 
902
(l)
   
760
 
5.00%, due 5/1/25
 
699
(l)
   
545
 
5.25%, due 6/1/27
 
497
(l)
       
Platform Specialty Products Corp.
     
   
70
 
6.50%, due 2/1/22
 
71
(l)
   
200
 
5.88%, due 12/1/25
 
199
(l)
   
1,070
 
PQ Corp., 6.75%, due 11/15/22
 
1,119
(l)
   
327
 
SABIC Capital II BV, 4.00%, due 10/10/23
 
331
(l)
       
SASOL Financing USA LLC
     
   
449
 
5.88%, due 3/27/24
 
463
 
   
415
 
6.50%, due 9/27/28
 
438
 
 
EUR
568
 
Solvay Finance SA, (5 year EUR Swap + 5.22%), 5.87%, due 6/3/24
 
723
(c)(r)(s)
 
$
1,285
 
WR Grace & Co-Conn, 5.13%, due 10/1/21
 
1,320
(l)(n)
 
18,224
 
Coal 0.0%(a)
   
200
 
Shandong Energy Australia Pty Ltd., 4.55%, due 7/26/20
 
196
(r)
 
Commercial Services 0.2%
   
200
 
Adani Ports & Special Economic Zone Ltd., 3.50%, due 7/29/20
 
198
(r)
 
EUR
596
 
Avis Budget Finance PLC, 4.50%, due 5/15/25
 
682
(r)
 
EUR
446
 
Blitz F18-674 GmbH, 6.00%, due 7/30/26
 
510
(r)
 
EUR
400
 
Elis SA, 2.88%, due 2/15/26
 
457
(r)
 
EUR
512
 
Europcar Mobility Group, 4.13%, due 11/15/24
 
573
(r)
 
EUR
574
 
Hertz Holdings Netherlands BV, 4.13%, due 10/15/21
 
662
(r)
 
$
230
 
Korea Expressway Corp., (3 month USD LIBOR + 0.70%), 3.46%, due 4/20/20
 
230
(c)(r)
 
EUR
631
 
Loxam SAS, 6.00%, due 4/15/25
 
743
(r)
 
4,055
 
Computers 1.8%
 
$
8,830
 
Apple, Inc., 4.65%, due 2/23/46
 
9,627
(n)
       
Diamond 1 Finance Corp./Diamond 2 Finance Corp.
     
   
15,460
 
5.45%, due 6/15/23
 
16,172
(l)(n)
   
8,595
 
6.02%, due 6/15/26
 
8,982
(l)(n)
       
HP Enterprise Co.
     
   
8,980
 
3.60%, due 10/15/20
 
9,036
(n)
   
3,095
 
4.90%, due 10/15/25
 
3,238
(n)
 
47,055
 
Consumer - Commercial Lease Financing 0.7%
   
660
 
Avolon Holdings Funding Ltd., 5.13%, due 10/1/23
 
670
(l)(n)
       
Navient Corp.
     
 
 
1,530
 
4.88%, due 6/17/19
 
1,532
(n)
   
1,100
 
8.00%, due 3/25/20
 
1,145
 
   
375
 
5.88%, due 3/25/21
 
382
 
   
300
 
6.63%, due 7/26/21
 
308
 
   
575
 
6.50%, due 6/15/22
 
587
 
   
484
 
5.88%, due 10/25/24
 
453
 
   
525
 
6.75%, due 6/15/26
 
495
 
       
Park Aerospace Holdings Ltd.
     
   
310
 
3.63%, due 3/15/21
 
306
(l)
   
2,990
 
5.25%, due 8/15/22
 
3,036
(l)(n)
   
140
 
4.50%, due 3/15/23
 
137
(l)
   
1,750
 
5.50%, due 2/15/24
 
1,779
(l)(n)
       
SLM Corp.
     
   
570
 
7.25%, due 1/25/22
 
591
 
   
550
 
6.13%, due 3/25/24
 
527
 
       
Springleaf Finance Corp.
     
   
555
 
8.25%, due 12/15/20
 
593
 
   
2,305
 
7.75%, due 10/1/21
 
2,426
(n)
   
1,080
 
6.13%, due 5/15/22
 
1,110
 
   
90
 
5.63%, due 3/15/23
 
89
 
   
845
 
6.88%, due 3/15/25
 
809
 
   
865
 
7.13%, due 3/15/26
 
824
 
 
17,799
 
Diversified Capital Goods 0.1%
   
220
 
Anixter, Inc., 5.13%, due 10/1/21
 
224
(n)
       
CFX Escrow Corp.
     
   
525
 
6.00%, due 2/15/24
 
525
(l)(q)
   
260
 
6.38%, due 2/15/26
 
260
(l)(q)
   
480
 
Resideo Funding, Inc., 6.13%, due 11/1/26
 
494
(l)
       
SPX FLOW, Inc.
     
   
135
 
5.63%, due 8/15/24
 
132
(l)
   
200
 
5.88%, due 8/15/26
 
197
(l)
 
1,832
 
Diversified Financial Services 0.8%
   
11,795
 
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 4.45%, due 10/1/25
 
11,543
(n)
   
200
 
CCBL Cayman Corp. Ltd., 3.25%, due 7/28/20
 
199
(r)
   
200
 
CDBL Funding 2, 2.63%, due 8/1/20
 
197
(r)
   
700
 
Charming Light Investments Ltd., 4.38%, due 12/21/27
 
676
(r)
   
238
 
Far East Horizon Ltd., (3 month USD LIBOR + 2.00%), 4.81%, due 7/3/21
 
237
(c)(r)
   
200
 
GTLK Europe DAC, 5.95%, due 7/19/21
 
201
(r)
       
Huarong Finance 2017 Co. Ltd.
     
   
400
 
3.38%, due 1/24/20
 
397
(r)
   
200
 
(3 month USD LIBOR + 1.65%), 4.41%, due 4/27/20
 
200
(c)(r)
   
600
 
(5 year CMT + 7.77%), 4.50%, due 1/24/22
 
582
(c)(r)(s)
   
600
 
(3 month USD LIBOR + 1.85%), 4.61%, due 4/27/22
 
599
(c)(r)
   
2,690
 
(5 year CMT + 6.98%), 4.00%, due 11/7/22
 
2,523
(c)(n)(r)(s)
       
ICBCIL Finance Co. Ltd.
     
   
1,000
 
3.00%, due 4/5/20
 
993
(n)(r)
   
800
 
3.20%, due 11/10/20
 
794
(r)
   
400
 
2.50%, due 9/29/21
 
386
(r)
   
200
 
JIC Zhixin Ltd., 3.00%, due 11/24/22
 
195
(r)
 
DKK
4,992
 
Jyske Realkredit A/S, 2.00%, due 10/1/47
 
773
 
 
$
200
 
Mestenio Ltd., 8.50%, due 1/2/20
 
204
(r)
   
200
 
Rural Electrification Corp. Ltd., 3.07%, due 12/18/20
 
197
(r)
 
GBP
305
 
Vantiv LLC/Vantiv Issuer Corp., 3.88%, due 11/15/25
 
387
(r)
 
21,283
 
Electric 1.8%
 
$
4,600
 
1MDB Energy Ltd., 5.99%, due 5/11/22
 
4,708
(n)(r)
   
380
 
Comision Federal de Electricidad, 4.88%, due 5/26/21
 
385
(r)
 
GBP
400
 
Drax Finco PLC, 4.25%, due 5/1/22
 
525
(r)
 
GBP
1,104
 
E.ON Int'l Finance BV, Ser. 4, 6.38%, due 6/7/32
 
1,969
 
       
EnBW Energie Baden-Wuerttemberg AG
     
 
EUR
10,580
 
(5 year EUR Swap + 2.34%), 3.63%, due 4/2/76
 
12,579
(c)(n)(r)
 
EUR
595
 
(5 year EUR Swap + 3.63%), 3.38%, due 4/5/77
 
709
(c)(r)
 
GBP
1,755
 
Enel SpA, (5 year GBP Swap + 4.09%), 6.63%, due 9/15/76
 
2,440
(c)(n)(r)
       
Eskom Holdings SOC Ltd.
     
 
$
800
 
5.75%, due 1/26/21
 
784
(r)
   
980
 
6.75%, due 8/6/23
 
963
(r)
   
208
 
6.35%, due 8/10/28
 
213
(l)(n)
   
200
 
GCL New Energy Holdings Ltd., 7.10%, due 1/30/21
 
180
(r)
   
400
 
Genneia SA, 8.75%, due 1/20/22
 
371
(r)
 
GBP
7,882
 
NGG Finance PLC, (12 year GBP Swap + 3.48%), 5.63%, due 6/18/73
 
11,062
(c)(n)(r)
 
GBP
285
 
NWEN Finance PLC, 5.88%, due 6/21/21
 
381
(r)
       
Orano SA
     
 
EUR
400
 
3.25%, due 9/4/20
 
473
(r)
 
EUR
650
 
3.50%, due 3/22/21
 
775
(r)
 
EUR
700
 
4.88%, due 9/23/24
 
831
 
 
$
600
 
Pampa Energia SA, 7.38%, due 7/21/23
 
568
(r)
       
Perusahaan Listrik Negara PT
     
   
200
 
5.50%, due 11/22/21
 
208
(r)
 
EUR
281
 
2.88%, due 10/25/25
 
331
(l)
 
$
200
 
5.45%, due 5/21/28
 
210
(l)
   
612
 
6.15%, due 5/21/48
 
660
(l)
   
298
 
Spic 2018, (3 year CMT + 6.85%), 5.80%, due 5/21/22
 
310
(c)(r)(s)
       
SSE PLC
     
 
EUR
2,735
 
(5 year EUR Swap + 1.99%), 2.38%, due 4/1/21
 
3,125
(c)(n)(r)(s)
 
GBP
2,610
 
(5 year GBP Swap + 2.75%), 3.63%, due 9/16/77
 
3,324
(c)(n)(r)
 
48,084
 
Electric - Generation 0.5%
       
Calpine Corp.
     
 
$
2,560
 
6.00%, due 1/15/22
 
2,579
(l)(n)
   
1,050
 
5.38%, due 1/15/23
 
1,021
(n)
   
360
 
5.88%, due 1/15/24
 
360
(l)(n)
   
325
 
5.75%, due 1/15/25
 
306
(n)
       
Dynegy, Inc.
     
   
715
 
7.38%, due 11/1/22
 
744
(n)
   
1,355
 
5.88%, due 6/1/23
 
1,385
(n)
   
2,207
 
7.63%, due 11/1/24
 
2,345
(n)
       
NRG Energy, Inc.
     
   
600
 
6.25%, due 5/1/24
 
621
 
   
1,630
 
7.25%, due 5/15/26
 
1,761
(n)
   
1,565
 
6.63%, due 1/15/27
 
1,648
(n)
       
Vistra Operations Co. LLC
     
   
510
 
5.50%, due 9/1/26
 
517
(l)
   
865
 
5.63%, due 2/15/27
 
872
(l)(q)
 
14,159
 
Electric - Integrated 0.1%
   
60
 
IPALCO Enterprises, Inc., 3.45%, due 7/15/20
 
60
 
       
Talen Energy Supply LLC
     
 
 
1,585
 
9.50%, due 7/15/22
 
1,617
(l)(n)
   
1,050
 
10.50%, due 1/15/26
 
971
(l)
 
2,648
 
Electrical Components & Equipment 0.1%
       
Belden, Inc.
     
 
EUR
270
 
4.13%, due 10/15/26
 
315
(r)
 
EUR
893
 
3.38%, due 7/15/27
 
983
(r)
 
EUR
327
 
Energizer Gamma Acquisition BV, 4.63%, due 7/15/26
 
367
(r)
 
1,665
 
Electronics 0.2%
 
$
910
 
Amkor Technology, Inc., 6.38%, due 10/1/22
 
919
(n)
   
210
 
Micron Technology, Inc., 5.50%, due 2/1/25
 
213
 
   
700
 
NXP BV/NXP Funding LLC, 4.13%, due 6/1/21
 
703
(l)
   
710
 
Sensata Technologies UK Financing Co. PLC, 6.25%, due 2/15/26
 
740
(l)
   
2,030
 
Tsinghua Unic Ltd., 5.38%, due 1/31/23
 
1,887
(n)(r)
 
4,462
 
Energy - Alternate Sources 0.0%(a)
   
700
 
Azure Power Energy Ltd., 5.50%, due 11/3/22
 
680
(r)
   
200
 
Greenko Dutch BV, 4.88%, due 7/24/22
 
193
(r)
   
274
 
Rio Energy SA/UGEN SA/UENSA SA, 6.88%, due 2/1/25
 
218
(l)
 
1,091
 
Energy - Exploration & Production 0.7%
       
Antero Resources Corp.
     
   
1,425
 
5.38%, due 11/1/21
 
1,432
(n)
   
1,040
 
5.13%, due 12/1/22
 
1,039
(n)
       
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
     
   
1,082
 
10.00%, due 4/1/22
 
1,156
(l)(n)
   
1,210
 
7.00%, due 11/1/26
 
1,168
(l)
       
Chesapeake Energy Corp.
     
   
840
 
6.13%, due 2/15/21
 
838
(n)
   
110
 
4.88%, due 4/15/22
 
105
(n)
   
115
 
5.75%, due 3/15/23
 
108
(n)
   
185
 
7.00%, due 10/1/24
 
180
(n)
   
1,080
 
8.00%, due 1/15/25
 
1,086
 
   
775
 
8.00%, due 6/15/27
 
743
(n)
       
EP Energy LLC/Everest Acquisition Finance, Inc.
     
   
320
 
7.75%, due 9/1/22
 
144
(n)
   
1,730
 
6.38%, due 6/15/23
 
675
(n)
   
1,470
 
9.38%, due 5/1/24
 
783
(l)(n)
   
120
 
Newfield Exploration Co., 5.75%, due 1/30/22
 
125
 
       
Oasis Petroleum, Inc.
     
   
675
 
6.88%, due 3/15/22
 
673
 
   
215
 
6.88%, due 1/15/23
 
213
 
   
550
 
6.25%, due 5/1/26
 
520
(l)
       
Parsley Energy LLC/Parsley Finance Corp.
     
   
135
 
5.38%, due 1/15/25
 
134
(l)
   
90
 
5.63%, due 10/15/27
 
89
(l)
   
445
 
PDC Energy, Inc., 5.75%, due 5/15/26
 
417
 
       
Range Resources Corp.
     
 
 
630
 
5.75%, due 6/1/21
 
633
 
   
220
 
5.88%, due 7/1/22
 
221
 
   
280
 
5.00%, due 8/15/22
 
272
 
   
1,150
 
5.00%, due 3/15/23
 
1,092
 
       
Sanchez Energy Corp.
     
   
120
 
7.75%, due 6/15/21
 
23
 
   
1,460
 
6.13%, due 1/15/23
 
256
 
       
SM Energy Co.
     
   
989
 
6.13%, due 11/15/22
 
991
 
   
605
 
5.00%, due 1/15/24
 
572
 
   
375
 
6.63%, due 1/15/27
 
367
 
       
Whiting Petroleum Corp.
     
   
970
 
5.75%, due 3/15/21
 
970
 
   
915
 
6.25%, due 4/1/23
 
904
 
   
640
 
6.63%, due 1/15/26
 
627
 
       
WPX Energy, Inc.
     
   
470
 
6.00%, due 1/15/22
 
477
 
   
130
 
8.25%, due 8/1/23
 
145
 
   
465
 
5.25%, due 9/15/24
 
459
 
   
280
 
5.75%, due 6/1/26
 
279
 
 
19,916
 
Engineering & Construction 0.2%
   
289
 
Aeropuerto Int'l de Tocumen SA, 6.00%, due 11/18/48
 
299
(l)
   
200
 
Chang Development Int'l Ltd., 3.63%, due 1/20/20
 
195
(r)
   
402
 
Dianjian Int'l Finance Ltd., (5 year CMT + 6.93%), 4.60%, due 3/13/23
 
390
(c)(r)(s)
   
2,545
 
Indo Energy Finance II BV, 6.38%, due 1/24/23
 
2,469
(n)(r)
   
300
 
Leader Goal Int'l Ltd., (5 year CMT + 6.92%), 4.25%, due 1/19/23
 
292
(c)(r)(s)
 
EUR
600
 
SPIE SA, 3.13%, due 3/22/24
 
690
(r)
 
4,335
 
Entertainment 0.2%
 
GBP
624
 
AMC Entertainment Holdings, Inc., 6.38%, due 11/15/24
 
772
 
 
EUR
649
 
Cirsa Finance Int'l S.a.r.l., 6.25%, due 12/20/23
 
773
(r)
 
EUR
696
 
Codere Finance 2 Luxembourg SA, 6.75%, due 11/1/21
 
741
(r)
       
Int'l Game Technology PLC
     
 
EUR
562
 
4.75%, due 2/15/23
 
687
(r)
 
EUR
100
 
3.50%, due 7/15/24
 
113
(r)
       
Scientific Games Int'l, Inc.
     
 
EUR
349
 
3.38%, due 2/15/26
 
373
(r)
 
EUR
369
 
5.50%, due 2/15/26
 
365
(r)
 
EUR
1,018
 
WMG Acquisition Corp., 4.13%, due 11/1/24
 
1,212
(r)
 
5,036
 
Environmental 0.0%(a)
 
$
255
 
Advanced Disposal Services, Inc., 5.63%, due 11/15/24
 
256
(l)(n)
 
Environmental Control 0.0%(a)
 
GBP
283
 
Kelda Finance No 3 PLC, 5.75%, due 2/17/20
 
371
(r)
 
EUR
914
 
Paprec Holding SA, 4.00%, due 3/31/25
 
889
(r)
 
1,260
 
Food 1.5%
       
Casino Guichard Perrachon SA
     
 
EUR
400
 
5.24%, due 3/9/20
 
477
 
 
EUR
600
 
4.05%, due 8/5/26
 
626
(r)
 
EUR
609
 
Darling Global Finance BV, 3.63%, due 5/15/26
 
716
(r)
       
Grupo Bimbo SAB de CV
     
 
$
7,200
 
(5 year CMT + 3.28%), 5.95%, due 4/17/23
 
7,119
(c)(l)(n)(s)
   
11,320
 
4.70%, due 11/10/47
 
10,499
(l)(n)
   
1,397
 
JBS Investments GmbH, 7.25%, due 4/3/24
 
1,445
(r)
   
10,195
 
Kroger Co., 5.40%, due 1/15/49
 
10,202
(n)
   
3,450
 
Marfrig Holdings Europe BV, 8.00%, due 6/8/23
 
3,565
(n)(r)
   
2,060
 
Minerva Luxembourg SA, 6.50%, due 9/20/26
 
1,970
(n)(r)
 
EUR
877
 
Nomad Foods Bondco PLC, 3.25%, due 5/15/24
 
1,014
(r)
 
GBP
349
 
Premier Foods Finance PLC, 6.25%, due 10/15/23
 
453
(r)
 
GBP
504
 
Tesco PLC, 5.50%, due 1/13/33
 
771
 
 
38,857
 
Food & Drug Retail 0.0%(a)
       
Albertsons Cos. LLC/Safeway, Inc./New Albertsons L.P./Albertson's LLC
     
 
$
175
 
6.63%, due 6/15/24
 
172
(n)
   
300
 
5.75%, due 3/15/25
 
281
(n)
 
453
 
Food - Wholesale 0.1%
       
Post Holdings, Inc.
     
   
760
 
5.50%, due 3/1/25
 
756
(l)
   
285
 
5.75%, due 3/1/27
 
279
(l)
   
425
 
5.63%, due 1/15/28
 
408
(l)
 
1,443
 
Food Service 0.0%(a)
 
EUR
609
 
Aramark Int'l Finance S.a.r.l., 3.13%, due 4/1/25
 
714
(r)
 
Forest Products & Paper 0.1%
       
Smurfit Kappa Acquisitions
     
 
EUR
599
 
2.75%, due 2/1/25
 
711
(r)
 
EUR
325
 
2.88%, due 1/15/26
 
379
(r)
 
$
279
 
Suzano Austria GmbH, 7.00%, due 3/16/47
 
303
(l)
 
1,393
 
Gaming 0.5%
       
Boyd Gaming Corp.
     
   
1,435
 
6.88%, due 5/15/23
 
1,492
(n)
   
790
 
6.38%, due 4/1/26
 
807
(n)
       
Eldorado Resorts, Inc.
     
   
410
 
7.00%, due 8/1/23
 
428
(n)
   
105
 
6.00%, due 4/1/25
 
106
(n)
   
885
 
6.00%, due 9/15/26
 
883
(l)(n)
   
1,660
 
GLP Capital L.P./GLP Financing II, Inc., 4.88%, due 11/1/20
 
1,684
(n)
       
Int'l Game Technology PLC
     
   
210
 
6.25%, due 2/15/22
 
217
(l)
   
370
 
6.25%, due 1/15/27
 
375
(l)
   
891
 
Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp., 6.75%, due 11/15/21
 
920
(l)
       
MGM Resorts Int'l
     
   
1,360
 
8.63%, due 2/1/19
 
1,360
(n)
   
810
 
5.25%, due 3/31/20
 
822
 
   
835
 
6.63%, due 12/15/21
 
882
 
   
365
 
7.75%, due 3/15/22
 
397
 
   
260
 
5.75%, due 6/15/25
 
261
 
   
460
 
Scientific Games Int'l, Inc., 10.00%, due 12/1/22
 
484
 
   
415
 
Station Casinos LLC, 5.00%, due 10/1/25
 
397
(l)
   
1,130
 
VICI Properties 1 LLC/VICI FC, Inc., 8.00%, due 10/15/23
 
1,220
 
       
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
     
 
 
150
 
4.25%, due 5/30/23
 
146
(l)
   
1,050
 
5.50%, due 3/1/25
 
1,017
(l)
 
13,898
 
Gas 0.4%
   
200
 
Binhai Investment Co. Ltd., 4.45%, due 11/30/20
 
186
(r)
       
Centrica PLC
     
 
GBP
2,900
 
(5 year GBP Swap + 3.61%), 5.25%, due 4/10/75
 
3,827
(c)(n)(r)
 
EUR
5,560
 
(5 year EUR Swap + 2.69%), 3.00%, due 4/10/76
 
6,372
(c)(n)(r)
 
10,385
 
Gas Distribution 0.6%
 
$
1,095
 
Antero Midstream Partners L.P./Antero Midstream Finance Corp., 5.38%, due 9/15/24
 
1,073
(n)
   
530
 
Cheniere Corpus Christi Holdings LLC, 5.88%, due 3/31/25
 
556
(n)
       
Crestwood Midstream Partners L.P./Crestwood Midstream Finance Corp.
     
   
345
 
6.25%, due 4/1/23
 
348
(n)
   
255
 
5.75%, due 4/1/25
 
250
(n)
       
DCP Midstream LLC
     
   
390
 
5.35%, due 3/15/20
 
395
(l)(n)
   
495
 
4.75%, due 9/30/21
 
497
(l)(n)
   
625
 
(3 month USD LIBOR + 3.85%), 5.85%, due 5/21/43
 
538
(c)(l)(n)
       
DCP Midstream Operating L.P.
     
   
285
 
2.70%, due 4/1/19
 
285
(n)
   
255
 
5.38%, due 7/15/25
 
260
 
   
380
 
5.60%, due 4/1/44
 
345
(n)
       
Energy Transfer Equity L.P.
     
   
1,650
 
7.50%, due 10/15/20
 
1,751
(n)
   
250
 
5.88%, due 1/15/24
 
267
(n)
       
NuStar Logistics L.P.
     
   
615
 
4.80%, due 9/1/20
 
617
 
   
620
 
6.75%, due 2/1/21
 
637
 
   
405
 
4.75%, due 2/1/22
 
395
 
   
345
 
5.63%, due 4/28/27
 
335
 
   
1,140
 
Rockies Express Pipeline LLC, 5.63%, due 4/15/20
 
1,160
(l)(n)
       
SemGroup Corp./Rose Rock Finance Corp.
     
   
160
 
5.63%, due 7/15/22
 
152
 
   
605
 
5.63%, due 11/15/23
 
563
(n)
       
Summit Midstream Holdings LLC/Summit Midstream Finance Corp.
     
   
350
 
5.50%, due 8/15/22
 
338
 
   
1,065
 
5.75%, due 4/15/25
 
998
(n)
       
Targa Resources Partners L.P./Targa Resources Partners Finance Corp.
     
   
485
 
4.13%, due 11/15/19
 
485
 
   
750
 
5.25%, due 5/1/23
 
751
 
   
360
 
4.25%, due 11/15/23
 
348
 
   
1,055
 
6.75%, due 3/15/24
 
1,097
(n)
   
500
 
5.13%, due 2/1/25
 
491
 
   
340
 
6.50%, due 7/15/27
 
350
(l)
   
745
 
5.00%, due 1/15/28
 
702
 
   
170
 
6.88%, due 1/15/29
 
177
(l)
   
640
 
Williams Cos., Inc., 7.88%, due 9/1/21
 
704
 
 
16,865
 
Hand - Machine Tools 0.0%(a)
 
EUR
889
 
Colfax Corp., 3.25%, due 5/15/25
 
980
(r)
 
Health Facilities 0.6%
       
Acadia Healthcare Co., Inc.
     
 
 
125
 
5.13%, due 7/1/22
 
123
(n)
   
255
 
6.50%, due 3/1/24
 
251
(n)
   
705
 
Columbia/HCA Corp., 7.69%, due 6/15/25
 
775
(n)
       
HCA, Inc.
     
   
320
 
7.50%, due 2/15/22
 
350
(n)
   
2,130
 
5.88%, due 3/15/22
 
2,255
(n)
   
935
 
4.75%, due 5/1/23
 
963
(n)
   
270
 
5.88%, due 5/1/23
 
286
 
   
755
 
5.00%, due 3/15/24
 
786
(n)
   
250
 
5.25%, due 4/15/25
 
264
(n)
   
1,525
 
5.38%, due 9/1/26
 
1,565
(n)
   
635
 
5.63%, due 9/1/28
 
656
 
   
695
 
5.88%, due 2/1/29
 
728
 
       
MEDNAX, Inc.
     
   
325
 
5.25%, due 12/1/23
 
326
(l)
   
855
 
6.25%, due 1/15/27
 
858
(l)
       
Tenet Healthcare Corp.
     
   
445
 
4.75%, due 6/1/20
 
448
 
   
365
 
4.50%, due 4/1/21
 
366
 
   
480
 
4.38%, due 10/1/21
 
479
 
   
940
 
7.50%, due 1/1/22
 
977
(l)
   
345
 
8.13%, due 4/1/22
 
361
 
   
535
 
6.75%, due 6/15/23
 
526
 
   
562
 
4.63%, due 7/15/24
 
550
 
   
1,210
 
6.25%, due 2/1/27
 
1,228
(l)(q)
   
165
 
6.88%, due 11/15/31
 
146
 
   
430
 
THC Escrow Corp., 7.00%, due 8/1/25
 
415
 
   
475
 
Universal Health Services, Inc., 4.75%, due 8/1/22
 
482
(l)
 
16,164
 
Health Services 0.2%
   
830
 
DaVita, Inc., 5.75%, due 8/15/22
 
844
(n)
       
IQVIA, Inc.
     
   
390
 
4.88%, due 5/15/23
 
394
(l)
   
670
 
5.00%, due 10/15/26
 
673
(l)
       
Service Corp. Int'l
     
   
430
 
4.50%, due 11/15/20
 
428
 
   
485
 
5.38%, due 1/15/22
 
489
 
   
1,130
 
5.38%, due 5/15/24
 
1,154
 
   
240
 
Syneos Health, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc., 7.50%, due 10/1/24
 
253
(l)
 
4,235
 
Healthcare - Services 0.0%(a)
 
EUR
1,079
 
Catalent Pharma Solutions, Inc., 4.75%, due 12/15/24
 
1,283
(r)
 
Holding Companies - Diversified 0.1%
 
GBP
789
 
Co-operative Group Holdings 2011 Ltd., 7.50%, due 7/8/26
 
1,134
(r)
 
EUR
976
 
ProGroup AG, 3.00%, due 3/31/26
 
1,111
(r)
 
2,245
 
Home Builders 0.0%(a)
 
GBP
933
 
Miller Homes Group Holdings PLC, 5.50%, due 10/15/24
 
1,157
(r)
 
Hotels 0.1%
 
$
695
 
ESH Hospitality, Inc., 5.25%, due 5/1/25
 
687
(l)(n)
   
435
 
Hilton Domestic Operating Co., Inc., 5.13%, due 5/1/26
 
438
(l)(n)
 
 
735
 
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.63%, due 4/1/25
 
728
 
   
490
 
RHP Hotel Properties L.P./RHP Finance Corp., 5.00%, due 4/15/21
 
491
 
 
2,344
 
Household Products - Wares 0.0%(a)
 
EUR
620
 
Spectrum Brands, Inc., 4.00%, due 10/1/26
 
699
(r)
 
Insurance 0.4%
 
$
8,575
 
AXA Equitable Holdings, Inc., 5.00%, due 4/20/48
 
8,001
(n)
   
200
 
Kyobo Life Insurance Co. Ltd., (5 year CMT + 2.09%), 3.95%, due 7/24/47
 
193
(c)(r)
 
GBP
1,414
 
Phoenix Group Holdings, 5.75%, due 7/7/21
 
2,004
(r)
 
10,198
 
Integrated Energy 0.1%
       
Cheniere Energy Partners L.P.
     
 
$
1,555
 
5.25%, due 10/1/25
 
1,563
(n)
   
490
 
5.63%, due 10/1/26
 
491
(l)
 
2,054
 
Internet 0.0%(a)
 
EUR
657
 
Netflix, Inc., 3.63%, due 5/15/27
 
749
 
 
EUR
300
 
United Group BV, 4.38%, due 7/1/22
 
344
(r)
 
1,093
 
Investment Companies 0.0%(a)
 
$
400
 
Huarong Finance II Co. Ltd., 2.88%, due 11/22/19
 
397
(r)
       
MDC-GMTN BV
     
   
200
 
3.00%, due 4/19/24
 
195
(r)
   
374
 
4.50%, due 11/7/28
 
394
(l)
   
200
 
Zhongyuan Sincere Investment Co. Ltd., 3.75%, due 1/19/21
 
194
(r)
 
1,180
 
Investments & Misc. Financial Services 0.1%
       
MSCI, Inc.
     
   
1,350
 
5.25%, due 11/15/24
 
1,377
(l)(n)
   
650
 
5.75%, due 8/15/25
 
673
(l)
 
2,050
 
Iron - Steel 0.2%
   
250
 
ABJA Investment Co. Pte Ltd., 4.85%, due 1/31/20
 
251
(r)
   
200
 
Baosteel Financing 2015 Pty Ltd., 3.88%, due 1/28/20
 
200
(r)
   
3,250
 
CSN Resources SA, 6.50%, due 7/21/20
 
3,226
(n)(r)
   
600
 
HBIS Group Hong Kong Co. Ltd., 4.25%, due 4/7/20
 
591
(r)
   
500
 
JSW Steel Ltd., 4.75%, due 11/12/19
 
497
(n)(r)
   
400
 
Shougang Group Co. Ltd., 3.38%, due 12/9/19
 
398
(r)
   
142
 
Vale Overseas Ltd., 4.38%, due 1/11/22
 
143
 
 
5,306
 
Leisure Time 0.0%(a)
 
EUR
790
 
Piaggio & C SpA, 3.63%, due 4/30/25
 
924
(r)
 
Lodging 0.0%(a)
       
Studio City Co. Ltd.
     
 
$
300
 
5.88%, due 11/30/19
 
304
(r)
   
900
 
7.25%, due 11/30/21
 
929
(r)
 
1,233
 
Machinery 0.0%(a)
       
CNH Industrial Capital LLC
     
 
$
250
 
3.38%, due 7/15/19
 
250
(n)
   
370
 
4.88%, due 4/1/21
 
376
(n)
   
250
 
Manitowoc Foodservice, Inc., 9.50%, due 2/15/24
 
268
 
   
120
 
Oshkosh Corp., 5.38%, due 3/1/25
 
122
 
 
1,016
 
Machinery - Diversified 0.3%
   
8,430
 
Wabtec Corp., 4.15%, due 3/15/24
 
8,199
(n)
 
Managed Care 0.2%
       
Centene Corp.
     
   
1,395
 
4.75%, due 5/15/22
 
1,420
(n)
   
1,145
 
6.13%, due 2/15/24
 
1,199
(n)
   
490
 
5.38%, due 6/1/26
 
508
(l)(n)
       
WellCare Health Plans, Inc.
     
   
340
 
5.25%, due 4/1/25
 
347
 
   
1,010
 
5.38%, due 8/15/26
 
1,033
(l)
 
4,507
 
Media 1.0%
       
Altice Finco SA
     
 
EUR
617
 
9.00%, due 6/15/23
 
734
(r)
 
EUR
794
 
4.75%, due 1/15/28
 
749
(r)
 
EUR
698
 
Altice Luxembourg SA, 6.25%, due 2/15/25
 
690
(r)
       
Comcast Corp.
     
 
$
5,265
 
4.00%, due 8/15/47
 
4,930
(n)
   
11,285
 
4.95%, due 10/15/58
 
11,943
(n)
 
EUR
1,189
 
Numericable-SFR SA, 5.63%, due 5/15/24
 
1,402
(r)
 
$
1,000
 
Telenet Finance Luxembourg Notes S.a.r.l., 5.50%, due 3/1/28
 
948
(l)
 
EUR
658
 
Telenet Finance VI Luxembourg SCA, 4.88%, due 7/15/27
 
809
(r)
 
EUR
459
 
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 6.25%, due 1/15/29
 
578
(r)
 
EUR
412
 
UPCB Finance IV Ltd., 4.00%, due 1/15/27
 
486
(r)
       
Virgin Media Secured Finance PLC
     
 
GBP
144
 
5.50%, due 1/15/25
 
191
(r)
 
GBP
548
 
4.88%, due 1/15/27
 
690
(r)
 
GBP
1,208
 
6.25%, due 3/28/29
 
1,628
(n)(r)
 
$
360
 
VTR Finance BV, 6.88%, due 1/15/24
 
371
(r)
       
Ziggo Bond Co. BV
     
 
EUR
390
 
7.13%, due 5/15/24
 
469
(r)
 
EUR
315
 
4.63%, due 1/15/25
 
364
(r)
 
26,982
 
Media Content 0.5%
       
AMC Networks, Inc.
     
 
$
305
 
4.75%, due 12/15/22
 
306
(n)
   
410
 
5.00%, due 4/1/24
 
407
(n)
   
435
 
4.75%, due 8/1/25
 
420
(n)
       
Gannett Co., Inc.
     
   
558
 
5.13%, due 10/15/19
 
559
(n)
   
1,525
 
5.13%, due 7/15/20
 
1,529
(n)
   
80
 
4.88%, due 9/15/21
 
80
(l)(n)
   
560
 
Gray Television, Inc., 7.00%, due 5/15/27
 
582
(l)
   
610
 
Lions Gate Capital Holdings LLC, 5.88%, due 11/1/24
 
599
(l)
       
Netflix, Inc.
     
 
 
810
 
5.38%, due 2/1/21
 
828
 
   
565
 
5.50%, due 2/15/22
 
587
(n)
   
250
 
4.38%, due 11/15/26
 
237
 
   
240
 
4.88%, due 4/15/28
 
228
 
   
275
 
6.38%, due 5/15/29
 
283
(l)
       
Nexstar Broadcasting, Inc.
     
   
60
 
6.13%, due 2/15/22
 
60
(l)
   
120
 
5.88%, due 11/15/22
 
122
 
       
Sinclair Television Group, Inc.
     
   
730
 
5.38%, due 4/1/21
 
732
 
   
290
 
5.63%, due 8/1/24
 
281
(l)
   
255
 
5.13%, due 2/15/27
 
232
(l)
       
Sirius XM Radio, Inc.
     
   
930
 
3.88%, due 8/1/22
 
916
(l)
   
275
 
4.63%, due 5/15/23
 
275
(l)
   
1,860
 
6.00%, due 7/15/24
 
1,932
(l)(n)
   
965
 
5.38%, due 7/15/26
 
956
(l)
   
610
 
5.00%, due 8/1/27
 
589
(l)
       
Univision Communications, Inc.
     
   
296
 
6.75%, due 9/15/22
 
297
(l)
   
660
 
5.13%, due 5/15/23
 
617
(l)(n)
   
610
 
WMG Acquisition Corp., 5.00%, due 8/1/23
 
605
(l)
 
14,259
 
Medical Products 0.0%(a)
       
Hologic, Inc.
     
   
600
 
4.38%, due 10/15/25
 
589
(l)
   
90
 
4.63%, due 2/1/28
 
87
(l)
   
110
 
Ortho-Clinical Diagnostics, Inc./Ortho-Clinical Diagnostics SA, 6.63%, due 5/15/22
 
106
(l)(n)
 
782
 
Metals - Mining Excluding Steel 0.4%
       
Arconic, Inc.
     
   
60
 
6.15%, due 8/15/20
 
62
(n)
   
140
 
5.40%, due 4/15/21
 
142
(n)
   
420
 
5.87%, due 2/23/22
 
434
(n)
   
310
 
5.13%, due 10/1/24
 
312
(n)
   
155
 
Constellium NV, 6.63%, due 3/1/25
 
154
(l)
   
320
 
First Quantum Minerals Ltd., 7.25%, due 5/15/22
 
315
(l)(n)
       
FMG Resources (August 2006) Pty Ltd.
     
   
510
 
4.75%, due 5/15/22
 
509
(l)(n)
   
225
 
5.13%, due 5/15/24
 
220
(l)(n)
       
Freeport-McMoRan, Inc.
     
   
1,220
 
3.10%, due 3/15/20
 
1,206
(n)
   
675
 
4.00%, due 11/14/21
 
667
(n)
   
1,560
 
3.55%, due 3/1/22
 
1,509
(n)
   
880
 
3.88%, due 3/15/23
 
845
(n)
   
1,215
 
5.40%, due 11/14/34
 
1,075
(n)
   
780
 
5.45%, due 3/15/43
 
671
(n)
       
Hudbay Minerals, Inc.
     
   
440
 
7.25%, due 1/15/23
 
453
(l)
   
640
 
7.63%, due 1/15/25
 
658
(l)
       
Novelis Corp.
     
   
500
 
6.25%, due 8/15/24
 
505
(l)
   
1,065
 
5.88%, due 9/30/26
 
1,029
(l)
               
       
Teck Resources Ltd.
     
 
 
515
 
4.75%, due 1/15/22
 
521
 
   
265
 
8.50%, due 6/1/24
 
286
(l)
 
11,573
 
Mining 0.6%
       
China Minmetals Corp.
     
   
430
 
(3 year CMT + 6.07%), 4.45%, due 5/13/21
 
427
(c)(r)(s)
   
2,470
 
(5 year CMT + 4.72%), 3.75%, due 11/13/22
 
2,322
(c)(n)(r)(s)
   
690
 
Chinalco Capital Holdings Ltd., 4.25%, due 4/21/22
 
666
(r)
   
342
 
Codelco, Inc., 4.38%, due 2/5/49
 
328
(l)(q)
 
EUR
1,031
 
Constellium NV, 4.25%, due 2/15/26
 
1,142
(r)
 
$
800
 
Gold Fields Orogen Holdings BVI Ltd., 4.88%, due 10/7/20
 
803
(r)
       
Indonesia Asahan Aluminium Persero PT
     
   
211
 
5.23%, due 11/15/21
 
218
(l)
   
200
 
5.71%, due 11/15/23
 
210
(l)
   
201
 
6.53%, due 11/15/28
 
221
(l)
   
232
 
6.76%, due 11/15/48
 
255
(l)
   
2,200
 
6.76%, due 11/15/48
 
2,428
(n)(r)
   
400
 
Minera y Metalurgica del Boleo SA de CV, 2.88%, due 5/7/19
 
400
(r)
       
Vedanta Resources PLC
     
   
710
 
8.25%, due 6/7/21
 
731
(r)
   
1,400
 
6.38%, due 7/30/22
 
1,352
(r)
   
3,030
 
VM Holding SA, 5.38%, due 5/4/27
 
3,003
(n)(r)
   
200
 
Votorantim Industrial SA, 6.75%, due 4/5/21
 
209
(r)
 
14,715
 
Miscellaneous Manufacturer 1.0%
   
31,395
 
General Electric Co., Ser. D, (3 month USD LIBOR + 3.33%), 5.00%, due 1/21/21
 
27,628
(c)(n)(s)
 
Multi - National 0.1%
   
500
 
African Export-Import Bank, 4.75%, due 7/29/19
 
502
(r)
   
200
 
Arab Petroleum Investments Corp., 4.13%, due 9/18/23
 
203
(l)(n)
   
800
 
Banque Ouest Africaine de Developpement, 5.50%, due 5/6/21
 
821
(r)
 
1,526
 
Oil & Gas 3.1%
       
Canadian Natural Resources Ltd.
     
   
5,660
 
6.25%, due 3/15/38
 
6,487
(n)
   
4,675
 
4.95%, due 6/1/47
 
4,856
(n)
   
6,310
 
Concho Resources, Inc., 4.88%, due 10/1/47
 
6,395
(n)
   
200
 
Ecopetrol SA, 5.88%, due 9/18/23
 
212
 
       
Gazprom OAO Via Gaz Capital SA
     
   
400
 
9.25%, due 4/23/19
 
405
(r)
   
400
 
4.95%, due 7/19/22
 
408
(r)
   
360
 
Harvest Operations Corp., 3.00%, due 9/21/22
 
355
(l)
       
KazMunayGas National Co. JSC
     
   
700
 
3.88%, due 4/19/22
 
697
(r)
   
300
 
4.40%, due 4/30/23
 
302
(r)
   
1,117
 
4.75%, due 4/24/25
 
1,153
(l)
   
508
 
5.38%, due 4/24/30
 
525
(l)
   
2,170
 
5.75%, due 4/19/47
 
2,191
(n)(r)
   
2,089
 
6.38%, due 10/24/48
 
2,230
(l)(n)
   
21,590
 
Marathon Oil Corp., 4.40%, due 7/15/27
 
21,647
(n)
 
 
   
Oil & Gas Holding Co.
     
   
220
 
7.63%, due 11/7/24
 
233
(l)
   
380
 
8.38%, due 11/7/28
 
405
(l)
       
Petrobras Global Finance BV
     
   
58
 
8.38%, due 5/23/21
 
64
 
   
61
 
6.13%, due 1/17/22
 
64
 
 
EUR
926
 
4.75%, due 1/14/25
 
1,157
 
 
$
3,050
 
7.38%, due 1/17/27
 
3,317
(n)
   
2,200
 
6.00%, due 1/27/28
 
2,190
(n)
       
Petroleos Mexicanos
     
   
450
 
4.88%, due 1/24/22
 
439
 
   
1,220
 
(3 month USD LIBOR + 3.65%), 6.42%, due 3/11/22
 
1,231
(c)
   
840
 
5.38%, due 3/13/22
 
827
 
   
6,505
 
6.50%, due 3/13/27
 
6,238
(n)
   
455
 
5.35%, due 2/12/28
 
398
 
   
314
 
6.50%, due 1/23/29
 
296
 
   
1,700
 
6.50%, due 6/2/41
 
1,483
 
   
2,080
 
6.75%, due 9/21/47
 
1,813
(n)
 
EUR
623
 
Repsol Int'l Finance BV, (10 year EUR Swap + 4.20%), 4.50%, due 3/25/75
 
755
(c)(r)
       
State Oil Co. of the Azerbaijan Republic
     
 
$
2,940
 
4.75%, due 3/13/23
 
2,962
(n)(r)
   
2,000
 
6.95%, due 3/18/30
 
2,199
(n)(r)
   
250
 
Tecpetrol SA, 4.88%, due 12/12/22
 
235
(r)
 
EUR
7,140
 
TOTAL SA, (5 year EUR Swap + 2.75%), 2.71%, due 5/5/23
 
8,453
(c)(n)(r)(s)
 
EUR
570
 
UGI Int'l LLC, 3.25%, due 11/1/25
 
675
(r)
 
$
400
 
YPF SA, 8.50%, due 3/23/21
 
407
(r)
 
83,704
 
Oil Field Equipment & Services 0.1%
       
Precision Drilling Corp.
     
   
541
 
6.50%, due 12/15/21
 
522
 
   
845
 
7.75%, due 12/15/23
 
807
 
   
910
 
5.25%, due 11/15/24
 
780
(n)
   
840
 
Weatherford Bermuda Holdings Ltd., 4.50%, due 4/15/22
 
534
 
 
2,643
 
Packaging 0.5%
       
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
     
   
520
 
4.25%, due 9/15/22
 
515
(l)(n)
   
600
 
4.63%, due 5/15/23
 
600
(l)(n)
   
895
 
6.00%, due 2/15/25
 
870
(l)(n)
       
Ball Corp.
     
   
575
 
4.38%, due 12/15/20
 
583
(n)
   
785
 
5.00%, due 3/15/22
 
813
(n)
       
Berry Plastics Corp.
     
   
630
 
5.50%, due 5/15/22
 
634
(n)
   
100
 
6.00%, due 10/15/22
 
102
(n)
   
1,250
 
5.13%, due 7/15/23
 
1,254
(n)
       
BWAY Holding Co.
     
   
1,215
 
5.50%, due 4/15/24
 
1,187
(l)(n)
   
450
 
7.25%, due 4/15/25
 
415
(l)
   
595
 
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, due 1/15/23
 
600
(n)
   
560
 
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, due 2/1/26
 
547
 
   
325
 
Graphic Packaging Int'l, Inc., 4.75%, due 4/15/21
 
327
(n)
   
1,040
 
Owens-Brockway Glass Container, Inc., 5.00%, due 1/15/22
 
1,050
(l)
       
Reynolds Group Issuer, Inc.
     
 
 
2,263
 
5.75%, due 10/15/20
 
2,272
(n)
   
217
 
6.88%, due 2/15/21
 
217
 
   
1,900
 
5.13%, due 7/15/23
 
1,904
(l)(n)
   
220
 
Sealed Air Corp., 4.88%, due 12/1/22
 
222
(l)
 
14,112
 
Packaging & Containers 0.3%
 
EUR
540
 
ARD Finance SA, 6.63% Cash/7.38% PIK, due 9/15/23
 
592
(t)
       
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
     
 
EUR
180
 
2.75%, due 3/15/24
 
207
(r)
 
EUR
818
 
6.75%, due 5/15/24
 
989
(r)
 
EUR
343
 
Ball Corp., 4.38%, due 12/15/23
 
443
 
 
EUR
1,210
 
BWAY Holding Co., 4.75%, due 4/15/24
 
1,378
(r)
 
EUR
1,938
 
Crown European Holdings SA, 3.38%, due 5/15/25
 
2,307
(n)(r)
 
EUR
875
 
Guala Closures SpA, (3 month EURIBOR + 3.50%, 3.50% Floor), 3.50%, due 4/15/24
 
1,004
(c)(r)
 
EUR
590
 
OI European Group BV, 3.13%, due 11/15/24
 
691
(r)
 
EUR
607
 
Silgan Holdings, Inc., 3.25%, due 3/15/25
 
714
 
 
8,325
 
Personal & Household Products 0.1%
       
Energizer Holdings, Inc.
     
 
$
260
 
4.70%, due 5/19/21
 
262
(n)
   
940
 
4.70%, due 5/24/22
 
940
(n)
   
470
 
7.75%, due 1/15/27
 
484
(l)
       
Prestige Brands, Inc.
     
   
340
 
5.38%, due 12/15/21
 
340
(l)
   
250
 
6.38%, due 3/1/24
 
249
(l)
       
Spectrum Brands, Inc.
     
   
275
 
6.63%, due 11/15/22
 
282
 
   
60
 
6.13%, due 12/15/24
 
60
 
   
705
 
5.75%, due 7/15/25
 
694
 
 
3,311
 
Pharmaceuticals 3.0%
   
8,725
 
AbbVie, Inc., 4.70%, due 5/14/45
 
8,139
(n)
 
EUR
4,125
 
Bayer AG, (5 year EUR Swap + 2.01%), 2.38%, due 4/2/75
 
4,568
(c)(n)(r)
       
CVS Health Corp.
     
 
$
8,445
 
4.30%, due 3/25/28
 
8,553
(n)
   
21,670
 
5.05%, due 3/25/48
 
22,280
(n)
       
Endo Finance LLC/Endo Finco, Inc.
     
   
160
 
7.25%, due 1/15/22
 
151
(l)(n)
   
365
 
5.38%, due 1/15/23
 
298
(l)(n)
       
Endo Ltd./Endo Finance LLC/Endo Finco, Inc.
     
   
685
 
6.00%, due 7/15/23
 
560
(l)(n)
   
545
 
6.00%, due 2/1/25
 
421
(l)(n)
 
EUR
780
 
Grifols SA, 3.20%, due 5/1/25
 
890
(r)
 
$
8,015
 
Halfmoon Parent, Inc., 4.80%, due 8/15/38
 
8,181
(l)(n)
   
300
 
Hikma Pharmaceuticals PLC, 4.25%, due 4/10/20
 
299
(r)
   
110
 
Mallinckrodt Int'l Finance SA/Mallinckrodt CB LLC, 4.88%, due 4/15/20
 
109
(l)
 
EUR
728
 
Nidda BondCo GmbH, 5.00%, due 9/30/25
 
765
(r)
 
EUR
460
 
Rossini S.a.r.l., 6.75%, due 10/30/25
 
537
(r)
       
Shire Acquisitions Investments Ireland DAC
     
 
$
10,775
 
2.40%, due 9/23/21
 
10,487
(n)
   
5,795
 
3.20%, due 9/23/26
 
5,397
(n)
   
300
 
Teva Pharmaceutical Finance Co. BV, 2.95%, due 12/18/22
 
280
 
       
Teva Pharmaceutical Finance Netherlands II BV
     
 
EUR
641
 
0.38%, due 7/25/20
 
726
(r)
 
EUR
325
 
3.25%, due 4/15/22
 
384
 
 
EUR
693
 
1.88%, due 3/31/27
 
682
(r)
 
$
303
 
Teva Pharmaceutical Finance Netherlands III BV, 1.70%, due 7/19/19
 
300
 
       
Valeant Pharmaceuticals Int'l, Inc.
     
   
1,355
 
6.50%, due 3/15/22
 
1,401
(l)
   
190
 
5.50%, due 3/1/23
 
185
(l)
 
EUR
883
 
4.50%, due 5/15/23
 
1,000
(r)
 
$
1,095
 
5.88%, due 5/15/23
 
1,073
(l)(n)
   
970
 
7.00%, due 3/15/24
 
1,018
(l)
   
550
 
6.13%, due 4/15/25
 
520
(l)
   
865
 
5.50%, due 11/1/25
 
863
(l)
 
80,067
 
Pipelines 2.6%
   
3,160
 
Abu Dhabi Crude Oil Pipeline LLC, 4.60%, due 11/2/47
 
3,197
(n)(r)
       
Energy Transfer Operating L.P.
     
   
12,110
 
Ser. B, (3 month USD LIBOR + 4.16%), 6.63%, due 2/15/28
 
10,793
(c)(n)(s)
   
9,220
 
5.80%, due 6/15/38
 
9,401
(n)
   
6,720
 
6.25%, due 4/15/49
 
7,159
(n)
   
10,755
 
Kinder Morgan Energy Partners L.P., 4.15%, due 2/1/24
 
10,941
(n)
   
11,045
 
Kinder Morgan, Inc., 5.55%, due 6/1/45
 
11,569
(n)
   
13,855
 
MPLX L.P., 4.70%, due 4/15/48
 
12,568
(n)
   
110
 
RasGas Co. Ltd., 5.30%, due 9/30/20
 
112
(r)
   
2,430
 
Southern Gas Corridor CJSC, 6.88%, due 3/24/26
 
2,697
(n)(r)
   
150
 
Transportadora de Gas del Sur SA, 6.75%, due 5/2/25
 
140
(l)
 
68,577
 
Printing & Publishing 0.0%(a)
   
413
 
R.R. Donnelley & Sons Co., 7.88%, due 3/15/21
 
418
 
 
Real Estate 0.1%
   
200
 
CIFI Holdings Group Co. Ltd., 6.38%, due 5/2/20
 
201
(r)
   
237
 
Powerchina Real Estate Group Ltd., 4.50%, due 12/6/21
 
238
(r)
   
1,000
 
Qatari Diar Finance Co., 5.00%, due 7/21/20
 
1,020
(r)
   
400
 
Shimao Property Holdings Ltd., 8.38%, due 2/10/22
 
418
(r)
   
450
 
Sino-Ocean Land Treasure IV Ltd., (3 month USD LIBOR + 2.30%), 5.04%, due 7/31/21
 
449
(c)(r)
 
EUR
636
 
Summit Germany Ltd., 2.00%, due 1/31/25
 
681
(r)
       
Sunac China Holdings Ltd.
     
 
$
200
 
8.63%, due 7/27/20
 
204
(r)
   
250
 
7.35%, due 7/19/21
 
249
(r)
   
200
 
Wisdom Glory Group Ltd., (3 year CMT + 8.67%), 5.25%, due 7/19/20
 
197
(c)(r)(s)
 
3,657
 
Real Estate Development & Management 0.1%
       
Realogy Group LLC/Realogy Co-Issuer Corp.
     
   
945
 
4.50%, due 4/15/19
 
945
(l)
   
490
 
5.25%, due 12/1/21
 
490
(l)
 
1,435
 
Real Estate Investment Trusts 0.4%
   
300
 
Emirates Reit Sukuk Ltd., 5.13%, due 12/12/22
 
273
(r)
 
EUR
1,184
 
Equinix, Inc., 2.88%, due 2/1/26
 
1,332
 
 
GBP
975
 
Iron Mountain UK PLC, 3.88%, due 11/15/25
 
1,218
(r)
       
MPT Operating Partnership L.P./MPT Finance Corp.
     
 
$
1,135
 
6.38%, due 3/1/24
 
1,186
 
   
1,565
 
5.50%, due 5/1/24
 
1,596
(n)
 
EUR
728
 
3.33%, due 3/24/25
 
846
 
 
$
775
 
5.25%, due 8/1/26
 
779
(n)
   
1,615
 
Sabra Health Care L.P./Sabra Capital Corp., 5.50%, due 2/1/21
 
1,631
(n)
       
Starwood Property Trust, Inc.
     
   
1,060
 
3.63%, due 2/1/21
 
1,045
 
   
310
 
5.00%, due 12/15/21
 
313
 
   
200
 
Yuexiu REIT MTN Co. Ltd., 4.75%, due 4/27/21
 
201
(r)
 
10,420
 
Recreation & Travel 0.1%
       
Cedar Fair L.P./Canada's Wonderland Co./Magnum Management Corp.
     
   
320
 
5.38%, due 6/1/24
 
322
(n)
   
450
 
5.38%, due 4/15/27
 
450
(n)
   
2,420
 
NCL Corp. Ltd., 4.75%, due 12/15/21
 
2,435
(l)(n)
   
655
 
Six Flags Entertainment Corp., 4.88%, due 7/31/24
 
648
(l)
 
3,855
 
Regional (state/province) 0.3%
   
1,549
 
Brazil Loan Trust 1, 5.48%, due 7/24/23
 
1,591
(n)(r)
   
5,760
 
Brazil Minas SPE via State of Minas Gerais, 5.33%, due 2/15/28
 
5,845
(n)(r)
 
7,436
 
Restaurants 0.2%
       
1011778 BC ULC/New Red Finance, Inc.
     
   
1,500
 
4.63%, due 1/15/22
 
1,503
(l)(n)
   
1,330
 
4.25%, due 5/15/24
 
1,287
(l)
   
420
 
5.00%, due 10/15/25
 
405
(l)
       
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC
     
   
160
 
5.00%, due 6/1/24
 
160
(l)
   
1,080
 
5.25%, due 6/1/26
 
1,094
(l)(n)
   
90
 
Yum! Brands, Inc., 3.88%, due 11/1/20
 
89
 
 
4,538
 
Retail 0.2%
 
EUR
100
 
Dufry Finance SCA, 4.50%, due 8/1/23
 
118
(r)
 
EUR
713
 
Dufry One BV, 2.50%, due 10/15/24
 
815
(r)
 
GBP
501
 
Enterprise Inns PLC, 6.00%, due 10/6/23
 
697
(r)
 
$
400
 
Lotte Shopping Business Management Hong Kong Ltd., 2.38%, due 9/5/20
 
395
(r)
 
GBP
1,526
 
Next Group PLC, 3.63%, due 5/18/28
 
2,000
(r)
 
4,025
 
Savings & Loans 0.2%
 
$
4,700
 
Nationwide Building Society, (3 month USD LIBOR +1.45), 4.30%, due 3/8/29
 
4,587
(c)(l)(n)
 
Semiconductors 1.0%
   
18,145
 
Broadcom Corp./Broadcom Cayman Finance Ltd., 3.88%, due 1/15/27
 
16,724
(n)
   
10,725
 
Microchip Technology, Inc., 4.33%, due 6/1/23
 
10,567
(l)(n)
 
27,291
 
Shipbuilding 0.0%(a)
   
222
 
Cssc Capital One Ltd., 4.13%, due 9/27/21
 
223
(r)
 
Software 0.1%
 
EUR
677
 
InterXion Holding NV, 4.75%, due 6/15/25
 
811
(r)
       
IQVIA, Inc.
     
 
EUR
1,145
 
3.25%, due 3/15/25
 
1,325
(r)
 
EUR
245
 
2.88%, due 9/15/25
 
278
(r)
 
EUR
780
 
Playtech PLC, 3.75%, due 10/12/23
 
880
(r)
 
3,294
 
Software - Services 0.4%
       
CDK Global, Inc.
     
 
$
250
 
3.80%, due 10/15/19
 
249
(n)
   
220
 
5.00%, due 10/15/24
 
220
(n)
   
200
 
5.88%, due 6/15/26
 
204
(n)
       
First Data Corp.
     
   
325
 
5.38%, due 8/15/23
 
331
(l)(n)
   
2,210
 
5.00%, due 1/15/24
 
2,258
(l)(n)
   
755
 
Infor Software Parent LLC/Infor Software Parent, Inc., 7.13% Cash/7.88% PIK, due 5/1/21
 
761
(l)(t)
   
500
 
j2 Cloud Services LLC/j2 Global Co-Obligor, Inc., 6.00%, due 7/15/25
 
501
(l)
       
Nuance Communications, Inc.
     
   
381
 
5.38%, due 8/15/20
 
383
(l)
   
1,840
 
6.00%, due 7/1/24
 
1,859
(n)
       
Open Text Corp.
     
   
740
 
5.63%, due 1/15/23
 
756
(l)
   
1,020
 
5.88%, due 6/1/26
 
1,053
(l)(n)
   
2,100
 
Rackspace Hosting, Inc., 8.63%, due 11/15/24
 
1,759
(l)(n)
   
232
 
WEX, Inc., 4.75%, due 2/1/23
 
229
(l)
 
10,563
 
Specialty Retail 0.1%
   
505
 
Liberty Media Corp., 8.50%, due 7/15/29
 
513
 
       
Penske Automotive Group, Inc.
     
   
1,360
 
3.75%, due 8/15/20
 
1,352
(n)
   
360
 
5.75%, due 10/1/22
 
365
 
       
QVC, Inc.
     
   
545
 
3.13%, due 4/1/19
 
544
 
   
70
 
5.13%, due 7/2/22
 
72
 
   
130
 
4.85%, due 4/1/24
 
130
 
   
285
 
5.45%, due 8/15/34
 
256
 
 
3,232
 
Steel Producers - Products 0.1%
   
175
 
ArcelorMittal, 5.13%, due 6/1/20
 
179
(n)
   
1,760
 
Big River Steel LLC/BRS Finance Corp., 7.25%, due 9/1/25
 
1,846
(l)(n)
       
Steel Dynamics, Inc.
     
   
130
 
5.25%, due 4/15/23
 
132
 
   
415
 
5.50%, due 10/1/24
 
428
 
 
2,585
 
Support - Services 0.7%
       
ADT Corp.
     
   
385
 
6.25%, due 10/15/21
 
405
(n)
   
745
 
4.88%, due 7/15/32
 
598
(l)
   
2,000
 
Anna Merger Sub, Inc., 7.75%, due 10/1/22
 
281
(l)(n)
       
Aramark Services, Inc.
     
 
 
1,020
 
5.13%, due 1/15/24
 
1,031
(n)
   
305
 
5.00%, due 2/1/28
 
298
(l)(n)
       
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.
     
   
305
 
5.50%, due 4/1/23
 
303
 
   
385
 
5.25%, due 3/15/25
 
346
(l)(n)
       
Hertz Corp.
     
   
1,060
 
5.88%, due 10/15/20
 
1,049
(n)
   
225
 
7.38%, due 1/15/21
 
223
(n)
   
380
 
7.63%, due 6/1/22
 
378
(l)(n)
   
2,050
 
5.50%, due 10/15/24
 
1,681
(l)(n)
   
1,130
 
IHS Markit Ltd., 5.00%, due 11/1/22
 
1,155
(l)(n)
   
215
 
Iron Mountain U.S. Holdings, Inc., 5.38%, due 6/1/26
 
205
(l)
       
Iron Mountain, Inc.
     
   
750
 
4.38%, due 6/1/21
 
748
(l)
   
1,825
 
6.00%, due 8/15/23
 
1,871
(n)
   
485
 
5.75%, due 8/15/24
 
481
 
   
425
 
5.25%, due 3/15/28
 
395
(l)
   
1,290
 
Olympus Merger Sub, Inc., 8.50%, due 10/15/25
 
1,076
(l)
   
1,795
 
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, due 5/15/23
 
1,898
(l)(n)
   
850
 
Ritchie Bros Auctioneers, Inc., 5.38%, due 1/15/25
 
854
(l)
   
460
 
ServiceMaster Co. LLC, 5.13%, due 11/15/24
 
450
(l)
   
395
 
Staples, Inc., 8.50%, due 9/15/25
 
379
(l)
       
United Rentals N.A., Inc.
     
   
820
 
5.75%, due 11/15/24
 
840
 
   
200
 
5.50%, due 7/15/25
 
202
 
   
1,245
 
Vizient, Inc., 10.38%, due 3/1/24
 
1,349
(l)
 
18,496
 
Tech Hardware & Equipment 0.3%
       
CDW LLC/CDW Finance Corp.
     
   
985
 
5.00%, due 9/1/23
 
987
(n)
   
310
 
5.00%, due 9/1/25
 
308
(n)
       
CommScope Technologies LLC
     
   
1,488
 
6.00%, due 6/15/25
 
1,406
(l)(n)
   
660
 
5.00%, due 3/15/27
 
563
(l)
       
CommScope, Inc.
     
   
360
 
5.00%, due 6/15/21
 
359
(l)(n)
   
390
 
5.50%, due 6/15/24
 
365
(l)(n)
       
Diamond 1 Finance Corp./Diamond 2 Finance Corp.
     
   
1,825
 
5.88%, due 6/15/21
 
1,855
(l)(n)
   
490
 
7.13%, due 6/15/24
 
517
(l)(n)
   
325
 
Project Homestake Merger Corp., 8.88%, due 3/1/23
 
237
(l)
   
1,235
 
Western Digital Corp., 4.75%, due 2/15/26
 
1,148
 
 
7,745
 
Telecom - Satellite 0.2%
   
1,131
 
Hughes Satellite Systems Corp., 6.50%, due 6/15/19
 
1,143
(n)
       
Intelsat Jackson Holdings SA
     
   
125
 
9.50%, due 9/30/22
 
145
(l)
   
2,675
 
5.50%, due 8/1/23
 
2,431
(n)
   
605
 
8.50%, due 10/15/24
 
611
(l)
   
466
 
Intelsat Luxembourg SA, 8.13%, due 6/1/23
 
388
 
 
4,718
 
Telecom - Wireless 0.4%
 
 
370
 
Sprint Capital Corp., 6.90%, due 5/1/19
 
372
 
       
Sprint Corp.
     
   
825
 
7.25%, due 9/15/21
 
866
 
   
725
 
7.88%, due 9/15/23
 
770
 
   
2,750
 
7.13%, due 6/15/24
 
2,826
(n)
   
1,055
 
7.63%, due 3/1/26
 
1,096
 
       
Sprint Nextel Corp.
     
   
380
 
7.00%, due 8/15/20
 
394
 
   
980
 
6.00%, due 11/15/22
 
993
 
       
T-Mobile USA, Inc.
     
   
1,380
 
6.00%, due 3/1/23
 
1,415
(n)
   
705
 
6.00%, due 4/15/24
 
723
 
   
190
 
6.50%, due 1/15/26
 
201
 
   
445
 
4.50%, due 2/1/26
 
433
 
   
1,125
 
Wind Tre SpA, 5.00%, due 1/20/26
 
925
(l)
 
11,014
 
Telecom - Wireline Integrated & Services 0.5%
   
630
 
CenturyLink, Inc., Ser. V, 5.63%, due 4/1/20
 
636
(n)
   
1,890
 
Citizens Communications Co., 9.00%, due 8/15/31
 
1,035
(n)
   
1,075
 
Embarq Corp., 8.00%, due 6/1/36
 
1,016
(n)
       
Equinix, Inc.
     
   
140
 
5.38%, due 1/1/22
 
142
(n)
   
295
 
5.75%, due 1/1/25
 
303
 
   
500
 
5.88%, due 1/15/26
 
517
(n)
       
Frontier Communications Corp.
     
   
150
 
7.13%, due 3/15/19
 
148
(n)
   
50
 
6.25%, due 9/15/21
 
34
(n)
   
50
 
8.75%, due 4/15/22
 
34
(n)
   
125
 
10.50%, due 9/15/22
 
89
(n)
   
150
 
7.13%, due 1/15/23
 
89
(n)
   
340
 
7.63%, due 4/15/24
 
184
(n)
   
2,885
 
11.00%, due 9/15/25
 
1,861
(n)
       
Level 3 Financing, Inc.
     
   
1,025
 
5.38%, due 8/15/22
 
1,033
(n)
   
350
 
5.63%, due 2/1/23
 
352
 
   
720
 
5.13%, due 5/1/23
 
714
 
   
820
 
5.38%, due 1/15/24
 
816
 
   
140
 
Qwest Corp., 6.75%, due 12/1/21
 
150
 
       
Telecom Italia Capital SA
     
   
70
 
7.18%, due 6/18/19
 
71
 
   
430
 
6.00%, due 9/30/34
 
374
 
   
1,135
 
U.S. West Communications Group, 6.88%, due 9/15/33
 
1,069
(n)
       
Zayo Group LLC/Zayo Capital, Inc.
     
   
1,225
 
6.00%, due 4/1/23
 
1,231
 
   
285
 
6.38%, due 5/15/25
 
278
 
   
920
 
5.75%, due 1/15/27
 
889
(l)(n)
 
13,065
 
Telecommunications 1.9%
       
AT&T, Inc.
     
 
 
14,245
 
5.45%, due 3/1/47
 
14,570
(n)
   
8,515
 
4.50%, due 3/9/48
 
7,661
(n)
       
Batelco Int'l Finance No. 1 Ltd.
     
   
200
 
4.25%, due 5/1/20
 
198
(r)
   
250
 
4.25%, due 5/1/20
 
248
(r)
 
EUR
800
 
Cellnex Telecom SA, 2.88%, due 4/18/25
 
922
(r)
 
$
400
 
Comunicaciones Celulares SA via Comcel Trust, 6.88%, due 2/6/24
 
413
(r)
 
EUR
622
 
DKT Finance ApS, 7.00%, due 6/17/23
 
769
(r)
       
GTH Finance BV
     
 
$
400
 
6.25%, due 4/26/20
 
407
(r)
   
450
 
6.25%, due 4/26/20
 
457
(r)
   
422
 
7.25%, due 4/26/23
 
444
(r)
   
2,805
 
Liquid Telecommunications Financing PLC, 8.50%, due 7/13/22
 
2,860
(l)(n)
   
434
 
Oztel Holdings SPC Ltd., 6.63%, due 4/24/28
 
409
(l)
 
EUR
441
 
SoftBank Group Corp., 5.00%, due 4/15/28
 
513
(r)
 
EUR
656
 
Telecom Italia SpA, 3.63%, due 5/25/26
 
721
(r)
 
EUR
1,800
 
Telefonica Europe BV, (5 year EUR Swap + 2.33%), 2.63%, due 6/7/23
 
1,938
(c)(r)(s)
 
$
9,995
 
Verizon Communications, Inc., 4.52%, due 9/15/48
 
9,764
(n)
   
400
 
VimpelCom Holdings BV, 5.20%, due 2/13/19
 
400
(r)
   
8,280
 
Vodafone Group PLC, 3.75%, due 1/16/24
 
8,263
(n)
       
Wind Tre SpA
     
 
EUR
321
 
(3 month EURIBOR + 2.75%, 2.75% Floor), 2.75%, due 1/20/24
 
328
(c)(r)
 
EUR
371
 
3.13%, due 1/20/25
 
374
(r)
 
51,659
 
Theaters & Entertainment 0.1%
       
AMC Entertainment Holdings, Inc.
     
 
$
365
 
5.88%, due 2/15/22
 
365
(n)
   
1,465
 
5.75%, due 6/15/25
 
1,351
(n)
   
670
 
6.13%, due 5/15/27
 
596
(n)
       
Live Nation Entertainment, Inc.
     
   
335
 
5.38%, due 6/15/22
 
338
(l)
   
595
 
4.88%, due 11/1/24
 
586
(l)
 
3,236
 
Transportation 0.2%
   
3,560
 
FedEx Corp., 4.95%, due 10/17/48
 
3,547
(n)
 
EUR
600
 
La Poste SA, (5 year EUR Swap + 2.44%), 3.13%, due 1/29/26
 
638
(c)(r)(s)
 
$
200
 
Rumo Luxembourg S.a.r.l., 7.38%, due 2/9/24
 
212
(r)
 
4,397
 
Water 0.1%
   
1,330
 
Agua y Saneamientos Argentinos SA, 6.63%, due 2/1/23
 
1,044
(r)
 
GBP
500
 
Anglian Water Osprey Financing PLC, 4.00%, due 3/8/26
 
572
(r)
 
GBP
1,626
 
Thames Water Utilities Cayman Finance Ltd., 1.88%, due 1/24/24
 
2,080
(r)
 
3,696
 
 
 
Total Corporate Bonds (Cost $1,365,208)
 
1,345,679
 
 
Municipal Notes 1.0%
California 0.1%
   
690
 
California Statewide CDA Rev. (Loma Linda Univ. Med. Ctr.), Ser. 2018-A, 5.50%, due 12/1/58
 
751
(l)
   
710
 
Sacramento Co. Arpt. Sys. Rev. Ref., Ser. 2018-C, 5.00%, due 7/1/33
 
821
 
 
1,572
 
Delaware 0.0%(a)
 
 
720
 
Delaware St. Hlth. Fac. Au. Rev. (Beebe Med. Ctr. Inc.), Ser. 2018, 5.00%, due 6/1/48
 
774
 
 
Florida 0.0%(a)
   
705
 
Cap. Trust Agcy. Sr. Living Rev. (H-Bay Ministries, Inc. Superior Residences Proj.), Ser. 2018-A-1, 4.00%, due 7/1/43
 
664
 
 
Illinois 0.1%
   
675
 
Chicago O'Hare Int'l Arpt. Spec. Fac. Rev. (Trips Obligated Group), Ser. 2018, 5.00%, due 7/1/48
 
733
 
   
880
 
Illinois Fin. Au. Rev. (Local Gov't Prog.-East Prairie Sch. Dist. # 73 Proj.), (BAM Insured), Ser. 2018, 4.00%, due 12/1/42
 
890
 
   
705
 
Illinois St. G.O., Ser. 2017-D, 5.00%, due 11/1/28
 
761
 
 
2,384
 
Maryland 0.2%
   
3,520
 
Prince Georges Co. G.O. (Consol Pub. Imp.), Ser. 2018-A, 5.00%, due 7/15/29
 
4,343
 
 
Massachusetts 0.1%
   
1,055
 
Massachusetts St. Dev. Fin. Agcy. Rev. (CareGroup Obligated Group), Ser. 2018-J2, 5.00%, due 7/1/53
 
1,137
 
   
1,060
 
Massachusetts St. Ed. Fin. Au. Rev. Ref., Ser. 2018-A, 4.08%, due 7/1/27
 
1,115
 
 
2,252
 
Michigan 0.1%
   
720
 
Detroit Downtown Dev. Au. Tax Increment Rev. Ref. (Catalyst Dev. Proj.), Ser. 2018-A, (AGM Insured), 5.00%, due 7/1/48
 
767
 
   
910
 
Michigan St. Strategic Fund Ltd. Oblig. Rev. (I-75 Improvement Proj.), Ser. 2018, 5.00%, due 6/30/48
 
988
 
 
1,755
 
New Jersey 0.2%
   
695
 
Atlantic City G.O. Ref., Ser. 2018, 4.29%, due 9/1/26
 
717
 
   
1,095
 
New Jersey Econ. Dev. Au. Spec. Fac. Rev. Ref. (Port Newark Container Term. LLC Proj.), Ser. 2017, 5.00%, due 10/1/47
 
1,151
 
   
700
 
New Jersey Higher Ed. Assist. Au. Rev. Ref. (Std. Loan Rev.), Ser. 2018-B, 5.00%, due 12/1/26
 
809
 
   
705
 
New Jersey St. Hsg. & Mtge. Fin. Agcy. Rev. Ref. (Single Family Hsg. ), Ser. 2018-B, 3.80%, due 10/1/32
 
712
 
   
880
 
New Jersey St. Trans. Trust Fund Au. Trans. Sys. Rev. Ref., Ser. 2018-A, 5.00%, due 12/15/36
 
946
 
   
695
 
South Jersey Port Corp. Rev. (Sub-Marine Term), Ser. 2017-B, 5.00%, due 1/1/48
 
735
 
 
5,070
 
Oklahoma 0.0%(a)
   
715
 
Oklahoma St. Dev. Fin. Au. Hlth. Sys. Rev. (OU Medicine Proj.), Ser. 2018-B, 5.50%, due 8/15/57
 
793
 
 
Pennsylvania 0.1%
   
355
 
Commonwealth of Pennsylvania Cert. of Participation Ref., Ser. 2018, 5.00%, due 7/1/43
 
390
 
   
1,060
 
Pennsylvania St. Turnpike Commission Oil Franchise Tax Rev., Subser. 2018-B, 5.00%, due 12/1/48
 
1,174
 
 
1,564
 
Rhode Island 0.1%
   
1,035
 
Rhode Island Commerce Corp. Spec. Fac. Rev. Ref. (1st Lien - R I Arpt. Corp. Int'l Fac. Proj.), Ser. 2018, 5.00%, due 7/1/34
 
1,174
 
 
 
770
 
Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.), Ser. 2018, 5.00%, due 12/1/25
 
873
 
 
2,047
 
Tennessee 0.0%(a)
   
530
 
Greeneville Hlth. & Ed. Facs. Board Hosp. Rev. Ref. (Ballad Hlth. Obligated Group), Ser. 2018-A, 5.00%, due 7/1/29
 
624
 
 
Texas 0.0%(a)
   
1,070
 
Austin Comm. College Dist. Pub. Fac. Corp. Lease Rev., Ser. 2018-C, 4.00%, due 8/1/42
 
1,090
 
 
Utah 0.0%(a)
   
1,060
 
Salt Lake City Corp. Arpt. Rev., Ser. 2018-A, 5.00%, due 7/1/43
 
1,178
 
 
West Virginia 0.0%(a)
   
705
 
West Virginia Hosp. Fin. Au. Rev. (Imp. West Virginia Univ. Hlth. Sys. Obligated Group), Ser. 2018-A, 5.00%, due 6/1/52
 
755
 
 
 
Total Municipal Notes (Cost $26,664)
 
26,865
 
 
Asset-Backed Securities 9.5%
   
1,100
 
AIMCO CLO, Ser. 2018-AA, Class E, (3 month USD LIBOR + 5.15%), 7.92%, due 4/17/31
 
967
(c)(l)
   
550
 
Alinea CLO Ltd., Ser. 2018-1A, Class E, (3 month USD LIBOR + 6.00%), 8.76%, due 7/20/31
 
514
(c)(l)
   
279
 
Ally Auto Receivables Trust, Ser. 2017-3, Class A2, 1.53%, due 3/16/20
 
278
 
   
7,960
 
AM Capital Funding LLC, Ser. 2018-1, Class A, 4.98%, due 12/15/23
 
8,135
(l)
       
Apidos CLO XXVIII
     
   
500
 
Ser. 2017-28A, Class C, (3 month USD LIBOR + 2.50%), 5.26%, due 1/20/31
 
466
(c)(l)
   
500
 
Ser. 2017-28A, Class D, (3 month USD LIBOR + 5.50%), 8.26%, due 1/20/31
 
461
(c)(l)
   
2,000
 
Ares XLV CLO Ltd., Ser. 2017-45A, Class E, (3 month USD LIBOR + 6.10%), 8.89%, due 10/15/30
 
1,947
(c)(l)
       
Asset Backed Securities Corp. Home Equity
     
   
437
 
Ser. 2004-HE5, Class M2, (1 month USD LIBOR + 1.88%), 4.39%, due 8/25/34
 
436
(c)
   
566
 
Ser. 2006-HE1, Class A3, (1 month USD LIBOR + 0.20%), 2.71%, due 1/25/36
 
562
(c)
   
3,300
 
Assurant CLO I Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.46%), 9.22%, due 10/20/29
 
3,229
(c)(l)
       
Assurant CLO II Ltd.
     
   
250
 
Ser. 2018-1A, Class D, (3 month USD LIBOR + 2.85%), 5.61%, due 4/20/31
 
238
(c)(l)
   
1,500
 
Ser. 2018-1A, Class E, (3 month USD LIBOR + 5.60%), 8.36%, due 4/20/31
 
1,381
(c)(l)
   
9,795
 
BA Credit Card Trust, Ser. 2018-A2, Class A2, 3.00%, due 9/15/23
 
9,851
 
       
Bear Stearns Asset-Backed Securities I Trust
     
 
 
944
 
Ser. 2005-TC1, Class M1, (1 month USD LIBOR + 0.66%), 3.17%, due 5/25/35
 
945
(c)
   
6,730
 
Ser. 2005-AQ2, Class M1, (1 month USD LIBOR + 0.49%), 3.00%, due 9/25/35
 
6,664
(c)
   
2,797
 
Ser. 2006-HE1, Class 1M3, (1 month USD LIBOR + 0.46%), 2.97%, due 12/25/35
 
2,772
(c)
       
Bear Stearns Asset-Backed Securities Trust
     
   
1,333
 
Ser. 2004-SD3, Class M2, (1 month USD LIBOR + 1.88%), 4.39%, due 9/25/34
 
1,339
(c)
   
7,265
 
Ser. 2006-SD2, Class M2, (1 month USD LIBOR + 0.80%), 3.31%, due 6/25/36
 
7,239
(c)
   
3,000
 
Benefit Street Partners CLO XII Ltd., Ser. 2017-12A, Class D, (3 month USD LIBOR + 6.41%), 9.20%, due 10/15/30
 
2,903
(c)(l)
   
650
 
Canyon Capital CLO Ltd., Ser. 2014-1A, Class DR, (3 month USD LIBOR + 5.50%), 8.25%, due 1/30/31
 
585
(c)(l)
   
25,785
 
Capital One Multi-Asset Execution Trust, Ser. 2018-A1, Class A1, 3.01%, due 2/15/24
 
25,938
 
       
Carbone CLO Ltd.
     
   
1,000
 
Ser. 2017-1A, Class C, (3 month USD LIBOR + 2.60%), 5.38%, due 1/20/31
 
934
(c)(l)
   
1,000
 
Ser. 2017-1A, Class D, (3 month USD LIBOR + 5.90%), 8.68%, due 1/20/31
 
931
(c)(l)
   
1,120
 
Carlye U.S. CLO Ltd., Ser. 2017-5A, Class D, (3 month USD LIBOR + 5.30%), 8.06%, due 1/20/30
 
1,026
(c)(l)
   
11,198
 
Carrington Mortgage Loan Trust, Ser. 2006-RFC1, Class A4, (1 month USD LIBOR + 0.24%), 2.75%, due 3/25/36
 
11,136
(c)(n)
   
24,360
 
Chase Issuance Trust, Ser. 2016-A2, Class A, 1.37%, due 6/15/21
 
24,231
 
   
1,500
 
Citibank Credit Card Issuance Trust, Ser. 2017-A7, Class A7, (1 month LIBOR + 0.37%), 2.89%, due 8/8/24
 
1,501
(c)
       
Citigroup Mortgage Loan Trust, Inc.
     
   
319
 
Ser. 2006-WFH1, Class M2, (1 month USD LIBOR + 0.56%), 3.07%, due 1/25/36
 
319
(c)
   
577
 
Ser. 2006-AMC1, Class A2B, (1 month USD LIBOR + 0.16%), 2.67%, due 9/25/36
 
479
(c)
   
463
 
Colony American Finance Ltd., Ser. 2016-1, Class A, 2.54%, due 6/15/48
 
457
(l)
   
250
 
Dryden 45 Senior Loan Fund, Ser. 2016-45A, Class ER, (3 month USD LIBOR + 5.85%), 8.64%, due 10/15/30
 
235
(c)(l)
       
Dryden 53 CLO Ltd.
     
   
300
 
Ser. 2017-53A, Class D, (3 month USD LIBOR + 2.40%), 5.19%, due 1/15/31
 
277
(c)(l)
   
750
 
Ser. 2017-53A, Class E, (3 month USD LIBOR + 5.30%), 8.09%, due 1/15/31
 
681
(c)(l)
   
2,350
 
Dryden 54 Senior Loan Fund, Ser. 2017-54A, Class E, (3 month USD LIBOR + 6.20%), 8.96%, due 10/19/29
 
2,303
(c)(l)
       
Eaton Vance CLO Ltd.
     
   
850
 
Ser. 2015-1A, Class DR, (3 month USD LIBOR + 2.50%), 5.26%, due 1/20/30
 
790
(c)(l)
   
900
 
Ser. 2015-1A, Class ER, (3 month USD LIBOR + 5.60%), 8.36%, due 1/20/30
 
823
(c)(l)
   
750
 
Ser. 2018-1A, Class E, (3 month USD LIBOR + 6.00%), 8.45%, due 10/15/30
 
704
(c)(l)
   
2,442
 
EquiFirst Mortgage Loan Trust, Ser. 2003-2, Class 1A1, (1 month USD LIBOR + 1.13%), 3.64%, due 9/25/33
 
2,425
(c)
   
439
 
First Franklin Mortgage Loan Asset Backed Certificates, Ser. 2005-FF5, Class M2, (1 month USD LIBOR + 0.74%), 3.25%, due 5/25/35
 
439
(c)
       
Flatiron CLO Ltd.
     
 
 
700
 
Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.00%), 8.62%, due 5/15/30
 
661
(c)(l)
   
2,150
 
Ser. 2018-1A, Class E, (3 month USD LIBOR + 5.15%), 7.92%, due 4/17/31
 
1,907
(c)(l)(n)
   
737
 
Freedom Financial Trust, Ser. 2018-1, Class A, 3.61%, due 7/18/24
 
736
(l)
   
1,600
 
Galaxy XVIII CLO Ltd., Ser. 2018-28A, Class E, (3 month USD LIBOR + 6.00%), 8.79%, due 7/15/31
 
1,475
(c)(l)
   
750
 
Galaxy XXVI CLO Ltd., Ser. 2018-26A, Class E, (3 month USD LIBOR + 5.85%), 8.50%, due 11/22/31
 
689
(c)(l)
   
250
 
Galaxy XXVII CLO Ltd., Ser. 2018-27A, Class E, (3 month USD LIBOR + 5.78%), 8.41%, due 5/16/31
 
227
(c)(l)
   
1,600
 
Gilbert Park CLO Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.40%), 9.19%, due 10/15/30
 
1,564
(c)(l)
   
1,979
 
Global SC Finance IV Ltd., Ser. 2018-1A, Class A, 4.29%, due 5/17/38
 
1,995
(l)
       
GM Financial Consumer Automobile Receivables Trust
     
   
10,461
 
Ser. 2018-1, Class A2A, 2.08%, due 1/19/21
 
10,426
 
   
4,270
 
Ser. 2018-2, Class A2A, 2.55%, due 5/17/21
 
4,263
 
   
699
 
Home Equity Mortgage Trust, Ser. 2004-5, Class M2, (1 month USD LIBOR + 1.60%), 4.11%, due 2/25/35
 
698
(c)
   
1,000
 
HPS Investment Partners, Ser. 2013-2A, Class DR, (3 month USD LIBOR + 6.60%), 9.36%, due 10/20/29
 
978
(c)(l)
       
Invitation Homes Trust
     
   
1,464
 
Ser. 2017-SFR2, Class A, (1 month USD LIBOR + 0.85%), 3.36%, due 12/17/36
 
1,450
(c)(l)
   
1,979
 
Ser. 2018-SFR1, Class A, (1 month USD LIBOR + 0.70%), 3.21%, due 3/17/37
 
1,943
(c)(l)
       
JP Morgan Mortgage Acquisition Trust
     
   
106
 
Ser. 2006-ACC1, Class A5, (1 month USD LIBOR + 0.24%), 2.75%, due 5/25/36
 
106
(c)
   
3,497
 
Ser. 2006-CH1, Class M1, (1 month USD LIBOR + 0.22%), 2.73%, due 7/25/36
 
3,466
(c)
   
5,260
 
Ser. 2007-CH1, Class MV2, (1 month USD LIBOR + 0.28%), 2.79%, due 11/25/36
 
5,232
(c)
   
479
 
Ser. 2007-HE1, Class AF1, (1 month USD LIBOR + 0.10%), 2.61%, due 3/25/47
 
329
(c)
   
250
 
KKR CLO 23 Ltd., Ser. 2023, Class E, (3 month USD LIBOR + 6.00%), 8.49%, due 10/20/31
 
237
(c)(l)
   
800
 
Madison Park Funding XIV Ltd., Ser. 2014-14A, Class ER, (3 month USD LIBOR + 5.80%), 8.56%, due 10/22/30
 
754
(c)(l)
       
Magnetite CLO Ltd.
     
   
250
 
Ser. 2018-20A, Class D, (3 month USD LIBOR + 2.50%), 5.26%, due 4/20/31
 
232
(c)(l)
   
250
 
Ser. 2018-20A, Class E, (3 month USD LIBOR + 5.35%), 8.11%, due 4/20/31
 
229
(c)(l)
   
1,000
 
Ser. 2015-12A, Class ER, (3 month USD LIBOR + 5.68%), 8.47%, due 10/15/31
 
927
(c)(l)
   
500
 
Marble Point CLO XI Ltd., Ser. 2017-2A, Class D, (3 month USD LIBOR + 2.80%), 5.58%, due 12/18/30
 
467
(c)(l)
       
Navient Student Loan Trust
     
   
10
 
Ser. 2016-6A, Class A1, (1 month USD LIBOR + 0.48%), 2.99%, due 3/25/66
 
10
(c)(l)
   
3,355
 
Ser. 2018-3A, Class A1, (1 month USD LIBOR + 0.27%), 2.78%, due 3/25/67
 
3,352
(c)(l)
   
9,476
 
Newcastle Mortgage Securities Trust, Ser. 2006-1, Class M2, (1 month USD LIBOR + 0.37%), 2.88%, due 3/25/36
 
9,402
(c)
       
OCP CLO Ltd.
     
 
 
3,000
 
Ser. 2015-8A, Class CR, (3 month USD LIBOR + 2.80%), 5.57%, due 4/17/27
 
2,933
(c)(l)
   
2,800
 
Ser. 2015-10A, Class CR, (3 month USD LIBOR + 2.60%), 5.36%, due 10/26/27
 
2,635
(c)(l)
   
3,800
 
Ser. 2017-14A, Class C, (3 month USD LIBOR + 2.60%), 5.24%, due 11/20/30
 
3,497
(c)(l)
   
1,800
 
Ser. 2017-14A, Class D, (3 month USD LIBOR + 5.80%), 8.44%, due 11/20/30
 
1,638
(c)(l)
   
1,000
 
Ser. 2018-15A, Class D, (3 month USD LIBOR + 5.85%), 8.32%, due 7/20/31
 
938
(c)(l)
   
800
 
Octagon Investment Partners 39 Ltd., Ser. 2018-3A, Class E, (3 month USD LIBOR + 5.75%), 8.21%, due 10/20/30
 
754
(c)(l)
   
750
 
OHA Credit Partners XV Ltd., Ser. 2017-15A, Class D, (3 month USD LIBOR + 2.45%), 5.21%, due 1/20/30
 
693
(c)(l)
       
Palmer Square CLO Ltd.
     
   
700
 
Ser. 2014-1A, Class DR2, (3 month USD LIBOR + 5.70%), 8.47%, due 1/17/31
 
645
(c)(l)
   
1,600
 
Ser. 2018-1A, Class D, (3 month USD LIBOR + 5.15%), 7.93%, due 4/18/31
 
1,429
(c)(l)
       
Residential Asset Mortgage Products, Inc.
     
   
1,008
 
Ser. 2005-RS4, Class M3, (1 month USD LIBOR + 0.48%), 2.99%, due 4/25/35
 
1,008
(c)
   
1,816
 
Ser. 2005-RZ2, Class M4, (1 month USD LIBOR + 0.56%), 3.07%, due 5/25/35
 
1,814
(c)
   
1,151
 
Saxon Asset Securities Trust, Ser. 2004-2, Class MV1, (1 month USD LIBOR + 0.87%), 3.38%, due 8/25/35
 
1,152
(c)
   
382
 
Securitized Asset Backed Receivables LLC Trust, Ser. 2004-DO1, Class M1, (1 month USD LIBOR + 0.98%), 3.49%, due 7/25/34
 
374
(c)
   
773
 
SoFi Consumer Loan Program Trust, Ser. 2018-1, Class A1, 2.55%, due 2/25/27
 
770
(l)
   
1,362
 
SoFi Professional Loan Program LLC, Ser. 2017-E, Class A1, (1 month USD LIBOR + 0.50%), 3.01%, due 11/26/40
 
1,362
(c)(l)
       
Structured Asset Securities Corp.
     
   
677
 
Ser. 2005-NC2, Class M3, (1 month USD LIBOR + 0.43%), 2.94%, due 5/25/35
 
677
(c)
   
170
 
Ser. 2006-AM1, Class A4, (1 month USD LIBOR + 0.16%), 2.67%, due 4/25/36
 
169
(c)
   
304
 
Ser. 2006-NC1, Class A4, (1 month USD LIBOR + 0.15%), 2.66%, due 5/25/36
 
303
(c)
   
1,000
 
TICP CLO X Ltd., Ser. 2018-10A, Class E, (3 month USD LIBOR + 5.50%), 8.26%, due 4/20/31
 
913
(c)(l)
   
505
 
Toyota Auto Receivables Owner Trust, Ser. 2017-B, Class A2A, 1.46%, due 1/15/20
 
505
 
   
1,300
 
Trestles CLO II Ltd., Ser. 2018-2A Class D, (3 month USD LIBOR + 5.75%), 8.08%, due 7/25/31
 
1,215
(c)(l)
   
1,200
 
Trestles CLO Ltd., Ser. 2017-1A, Class D, (3 month USD LIBOR + 6.68%), 9.45%, due 7/25/29
 
1,139
(c)(l)
   
9,800
 
Verizon Owner Trust, Ser. 2017-1A, Class A, 2.06%, due 9/20/21
 
9,751
(l)
       
Voya CLO Ltd.
     
   
250
 
Ser. 2018-3A, Class E, (3 month USD LIBOR + 5.75%), 8.21%, due 10/15/31
 
234
(c)(l)
   
350
 
Ser. 2016-3A, Class DR, (3 month USD LIBOR + 6.08%), 8.86%, due 10/18/31
 
331
(c)(l)
   
36,265
 
World Omni Auto Receivables Trust, Ser. 2019-A, Class A3, 3.04%, due 5/15/24
 
36,383
 
 
 
1,550
 
York CLO-2 Ltd., Ser. 2015-1A, Class DR, (3 month USD LIBOR + 2.60%), 5.36%, due 1/22/31
 
1,490
(c)(l)
 
 
Total Asset-Backed Securities (Cost $248,277)
 
255,048
 
 
Foreign Government Securities 9.2%
   
2,300
 
1MDB Global Investments Ltd., 4.40%, due 3/9/23
 
2,141
(n)(r)
   
270
 
Abu Dhabi Government International Bond, 2.50%, due 10/11/22
 
265
(r)
       
Angolan Government International Bond
     
   
610
 
9.38%, due 5/8/48
 
643
(r)
   
1,714
 
9.38%, due 5/8/48
 
1,808
(r)
       
Argentine Republic Government International Bond
     
   
830
 
6.88%, due 4/22/21
 
792
(n)
 
EUR
610
 
3.88%, due 1/15/22
 
626
(r)
 
$
202
 
4.63%, due 1/11/23
 
173
(n)
 
EUR
650
 
3.38%, due 1/15/23
 
631
 
 
EUR
3,619
 
7.82%, due 12/31/33
 
3,758
(n)
 
EUR
14,930
 
2.26%, due 12/31/38
 
10,159
(n)(u)
 
EUR
1,570
 
Banque Centrale de Tunisie International Bond, 5.63%, due 2/17/24
 
1,666
(r)
 
$
1,390
 
Bermuda Government International Bond, 4.75%, due 2/15/29
 
1,442
(r)
       
Brazil Notas do Tesouro Nacional
     
 
BRL
7,036
 
Ser. F, 10.00%, due 1/1/23
 
2,047
 
 
BRL
14,222
 
Ser. F, 10.00%, due 1/1/29
 
4,178
 
 
$
1,500
 
Brazilian Government International Bond, 5.63%, due 2/21/47
 
1,491
(n)
       
Colombia Government International Bond
     
   
1,445
 
4.00%, due 2/26/24
 
1,464
(n)
   
1,000
 
3.88%, due 4/25/27
 
987
 
   
241
 
4.50%, due 3/15/29
 
247
 
   
505
 
5.20%, due 5/15/49
 
522
 
       
Colombian TES
     
 
COP
5,030,500
 
Ser. B, 6.25%, due 11/26/25
 
1,613
 
 
COP
15,473,600
 
Ser. B, 6.00%, due 4/28/28
 
4,762
 
       
Costa Rica Government International Bond
     
 
$
535
 
7.00%, due 4/4/44
 
478
(r)
   
4,911
 
7.16%, due 3/12/45
 
4,438
(r)
       
Croatia Government International Bond
     
   
2,040
 
6.38%, due 3/24/21
 
2,152
(r)
 
EUR
5,840
 
3.00%, due 3/20/27
 
7,202
(n)(r)
 
EUR
1,394
 
2.75%, due 1/27/30
 
1,641
(r)
 
$
756
 
Development Bank of Mongolia LLC, 7.25%, due 10/23/23
 
756
(l)
       
Dominican Republic International Bond
     
   
2,100
 
5.88%, due 4/18/24
 
2,176
(l)
   
1,500
 
6.88%, due 1/29/26
 
1,620
(l)
   
850
 
6.00%, due 7/19/28
 
875
(r)
       
Egypt Government International Bond
     
   
430
 
6.13%, due 1/31/22
 
429
(r)
   
213
 
5.58%, due 2/21/23
 
207
(r)
 
EUR
287
 
4.75%, due 4/16/26
 
307
(r)
 
EUR
257
 
5.63%, due 4/16/30
 
266
(r)
 
$
2,900
 
8.50%, due 1/31/47
 
2,790
(r)
   
2,418
 
7.90%, due 2/21/48
 
2,227
(r)
       
Export Credit Bank of Turkey
     
   
530
 
5.88%, due 4/24/19
 
530
(r)
   
1,520
 
5.38%, due 2/8/21
 
1,488
(r)
   
600
 
5.38%, due 10/24/23
 
560
(r)
   
604
 
8.25%, due 1/24/24
 
624
(l)
   
720
 
Export-Import Bank of Korea, (3 month USD LIBOR + 0.88%), 3.65%, due 1/25/22
 
723
(c)
       
Ghana Government International Bond
     
 
 
2,690
 
10.75%, due 10/14/30
 
3,165
(r)
   
3,485
 
8.63%, due 6/16/49
 
3,239
(r)
   
2,700
 
Hungary Government International Bond, 7.63%, due 3/29/41
 
3,888
 
       
Indonesia Government International Bond
     
   
4,100
 
3.70%, due 1/8/22
 
4,118
(l)
   
1,000
 
4.35%, due 1/8/27
 
1,009
(l)
 
EUR
1,616
 
3.75%, due 6/14/28
 
2,086
(n)(r)
 
$
1,250
 
5.13%, due 1/15/45
 
1,296
(r)
 
IDR
168,000,000
 
Indonesia Treasury Bond, 6.13%, due 5/15/28
 
10,412
 
       
Ivory Coast Government International Bond
     
 
EUR
1,750
 
5.13%, due 6/15/25
 
1,979
(r)
 
EUR
221
 
5.25%, due 3/22/30
 
234
(r)
 
$
11,357
 
5.75%, due 12/31/32
 
10,460
(r)(u)
 
EUR
674
 
6.63%, due 3/22/48
 
688
(r)
 
EUR
413
 
Kazakhstan Government International Bond, 1.55%, due 11/9/23
 
481
(r)
 
$
507
 
Kenya Government International Bond, 8.25%, due 2/28/48
 
488
(r)
   
450
 
Korea Housing Finance Corp., 3.00%, due 10/31/22
 
443
(l)
   
250
 
Kuwait International Government Bond, 2.75%, due 3/20/22
 
247
(r)
       
Mexican Bonos
     
 
MXN
33,540
 
Ser. M20, 10.00%, due 12/5/24
 
1,893
 
 
MXN
91,759
 
Ser. M20, 7.50%, due 6/3/27
 
4,528
 
       
Mexico Government International Bond
     
 
$
851
 
4.50%, due 4/22/29
 
854
 
   
2,100
 
4.35%, due 1/15/47
 
1,869
 
   
6,160
 
5.75%, due 10/12/10
 
6,046
 
       
Mongolia Government International Bond
     
   
230
 
10.88%, due 4/6/21
 
255
(r)
   
1,160
 
5.63%, due 5/1/23
 
1,137
(r)
   
1,550
 
8.75%, due 3/9/24
 
1,698
(r)
 
EUR
348
 
Montenegro Government International Bond, 3.38%, due 4/21/25
 
401
(r)
       
Morocco Government International Bond
     
 
$
3,710
 
4.25%, due 12/11/22
 
3,746
(l)
   
1,000
 
5.50%, due 12/11/42
 
1,044
(l)
       
Namibia International Bonds
     
   
250
 
5.50%, due 11/3/21
 
252
(r)
   
2,600
 
5.25%, due 10/29/25
 
2,479
(l)
       
Nigeria Government International Bond
     
   
600
 
5.63%, due 6/27/22
 
600
 
   
240
 
7.63%, due 11/21/25
 
249
(r)
   
1,310
 
6.50%, due 11/28/27
 
1,252
(r)
   
1,041
 
7.14%, due 2/23/30
 
1,000
(r)
   
542
 
8.75%, due 1/21/31
 
573
(r)
   
3,230
 
7.88%, due 2/16/32
 
3,208
(r)
   
200
 
9.25%, due 1/21/49
 
212
(r)
       
Oman Government International Bond
     
   
220
 
3.63%, due 6/15/21
 
212
(r)
   
2,100
 
3.88%, due 3/8/22
 
2,005
(l)
   
406
 
4.13%, due 1/17/23
 
383
(r)
   
1,000
 
5.38%, due 3/8/27
 
904
(l)
   
1,000
 
6.50%, due 3/8/47
 
838
(l)
   
1,766
 
6.75%, due 1/17/48
 
1,505
(r)
   
300
 
6.75%, due 1/17/48
 
256
(r)
       
Panama Government International Bond
     
   
2,100
 
3.75%, due 3/16/25
 
2,130
 
   
1,000
 
4.50%, due 5/15/47
 
1,016
 
   
206
 
Papua New Guinea Government International Bond, 8.38%, due 10/4/28
 
220
(r)
       
Paraguay Government International Bond
     
 
 
2,100
 
4.70%, due 3/27/27
 
2,142
(l)
   
3,690
 
6.10%, due 8/11/44
 
4,022
(r)
       
Qatar Government International Bond
     
   
405
 
2.38%, due 6/2/21
 
397
(l)
   
2,140
 
2.38%, due 6/2/21
 
2,100
(r)
   
200
 
4.50%, due 1/20/22
 
207
(r)
   
670
 
3.88%, due 4/23/23
 
683
(r)
   
1,000
 
3.25%, due 6/2/26
 
979
(l)
   
544
 
4.50%, due 4/23/28
 
575
(r)
   
1,000
 
4.63%, due 6/2/46
 
1,030
(l)
   
357
 
5.10%, due 4/23/48
 
383
(r)
   
2,170
 
5.10%, due 4/23/48
 
2,328
(r)
   
260
 
Republic of Armenia International Bond, 6.00%, due 9/30/20
 
266
(r)
   
5,870
 
Republic of Azerbaijan International Bond, 4.75%, due 3/18/24
 
5,960
(r)
       
Republic of South Africa Government Bond
     
 
ZAR
44,413
 
10.50%, due 12/21/26
 
3,703
 
 
ZAR
21,986
 
9.00%, due 1/31/40
 
1,567
 
       
Republic of South Africa Government International Bond
     
 
$
660
 
4.67%, due 1/17/24
 
662
 
   
4,110
 
4.88%, due 4/14/26
 
4,068
 
   
1,000
 
4.30%, due 10/12/28
 
932
 
   
1,253
 
5.88%, due 6/22/30
 
1,286
 
   
1,000
 
5.00%, due 10/12/46
 
897
 
       
Russian Federal Bond - OFZ
     
 
RUB
373,045
 
7.05%, due 1/19/28
 
5,371
 
 
RUB
161,924
 
7.70%, due 3/23/33
 
2,403
 
 
$
508
 
Russian Federation Bond, 7.50%, due 3/31/30
 
563
(r)(u)
       
Saudi Government International Bond
     
   
1,000
 
2.38%, due 10/26/21
 
972
(r)
   
521
 
4.50%, due 4/17/30
 
531
(r)
   
1,000
 
4.50%, due 4/17/30
 
1,020
(r)
   
2,600
 
Serbia International Bond, 4.88%, due 2/25/20
 
2,632
(l)
       
Sri Lanka Government International Bond
     
   
420
 
6.25%, due 7/27/21
 
422
(r)
   
640
 
5.75%, due 1/18/22
 
632
(r)
   
419
 
5.75%, due 4/18/23
 
405
(r)
   
2,249
 
6.20%, due 5/11/27
 
2,095
(r)
   
4,908
 
6.75%, due 4/18/28
 
4,706
(r)
   
3,100
 
Trinidad & Tobago Government International Bond, 4.50%, due 8/4/26
 
2,883
(l)
 
TRY
35,364
 
Turkey Government Bond, 12.40%, due 3/8/28
 
6,336
 
       
Turkey Government International Bond
     
 
$
450
 
7.00%, due 3/11/19
 
451
 
   
550
 
7.50%, due 11/7/19
 
561
 
   
760
 
5.63%, due 3/30/21
 
768
 
   
883
 
7.25%, due 12/23/23
 
926
 
   
200
 
5.75%, due 3/22/24
 
197
 
 
EUR
667
 
4.63%, due 3/31/25
 
767
 
 
EUR
1,038
 
5.20%, due 2/16/26
 
1,219
 
 
$
5,198
 
6.13%, due 10/24/28
 
4,980
 
   
1,272
 
7.63%, due 4/26/29
 
1,336
 
   
4,278
 
6.00%, due 1/14/41
 
3,786
 
       
Ukraine Government International Bond
     
   
420
 
7.75%, due 9/1/20
 
416
(r)
   
1,940
 
7.75%, due 9/1/27
 
1,749
(r)
   
400
 
Ukreximbank Via Biz Finance PLC, 9.63%, due 4/27/22
 
399
(r)
       
Uruguay Government International Bond
     
 
 
345
 
4.38%, due 1/23/31
 
353
 
   
2,000
 
5.10%, due 6/18/50
 
2,062
 
   
424
 
Venezuela Government International Bond, 8.25%, due 10/13/24
 
132
(r)(u)
   
500
 
Zambia Government International Bond, 8.97%, due 7/30/27
 
411
(r)
   
1,120
 
ZAR Sovereign Capital Fund Pty Ltd., 3.90%, due 6/24/20
 
1,114
(r)
 
 
Total Foreign Government Securities (Cost $258,278)
 
246,687
 
 
Developed Markets Ex- U.S. 0.0%(a)
     
 
Regional (province) 0.0%(a)
   
200
 
Provincia de Cordoba, 7.13%, due 6/10/21 (Cost  $215)
 
188
(r)
           
NUMBER OF
SHARES 
         
 
Short-Term Investments 0.6%
 
Investment Companies 0.6%
               
   
15,992,537
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(w)  (Cost  $15,993)
 
15,993
(n)
             
       
Total Investments 126.4% (Cost $3,426,617)
 
3,380,879
 
               
        Liabilities Less Other Assets (26.4)%    (706,642) (x)
 
 
 
Net Assets 100.0%
$2,674,237
 
 
(a)
 
Represents less than 0.05% of net assets.
(b)
 
Principal amount is stated in the currency in which the security is denominated.
(c)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(d)
 
All or a portion of this security had not settled as of January 31, 2019 and thus may not have an interest rate in effect. Interest rates do not take effect until settlement.
(e)
 
All or a portion of this security was purchased on a delayed delivery basis.
(f)
 
Illiquid security.
(g)
 
The stated interest rate represents the weighted average interest rate at January 31, 2019 of the underlying contracts within the Loan Assignment. Interest rates on the underlying contracts are primarily determined by reference to the indicated base lending rate and spread, which are indicated in the security description, and the reset period, which is generally weekly, monthly or quarterly.
(h)
 
Value determined using significant unobservable inputs.
(i)
 
Rate shown was the discount rate at the date of purchase.
(j)
 
All or a portion of the security is pledged as collateral for futures.
(k)
 
Index-linked bond whose principal amount adjusts according to a government retail price index.
(l)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $352,913,000, which represents 13.2% of net assets of the Fund. Securities denoted with (l) but without (f) have been deemed by the investment manager to be liquid.
(m)
 
Variable or floating rate security where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of January 31, 2019.
(n)
 
All or a portion of this security is segregated in connection with obligations for to be announced securities, when-issued securities, futures, forward foreign currency contracts and/or delayed delivery securities with a total value of approximately $1,057,169,000.
(o)
 
Interest only security. These securities represent the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding.
(p)
 
TBA (To Be Announced) Securities are purchased/sold on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total value of all such securities (excluding forward sales contracts, if any) at January 31, 2019, amounted to approximately $735,773,000, which represents 27.5% of net assets of the Fund.
(q)
 
When-issued security. Total value of all such securities at January 31, 2019, amounted to approximately $4,680,000, which represents 0.2% of net assets of the Fund.
(r)
 
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. Total value of all such securities at January 31, 2019 amounted to approximately $413,822,000, which represents 15.5% of net assets of the Fund.
(s)
 
Perpetual Bond Security. The rate reflected was the rate in effect on January 31, 2019. The maturity date reflects the next call date.
(t)
 
Payment-in-kind (PIK) security.
(u)
 
Step Bond. Coupon 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 was the current rate as of January 31, 2019.
(v)
 
Defaulted security.
(w)
 
Represents 7-day effective yield as of January 31, 2019.
(x)
 
Includes the impact of the Fund's open positions in derivatives at January 31, 2019.
 
 
See Notes to Schedule of Investments

Schedule of Investments Strategic Income Fund
(Unaudited) (cont’d)
 
 
Derivative Instruments

Futures contracts ("futures")
 
   
 
At January 31, 2019, open positions in futures for the Fund were as follows:
   
Long Futures:
                   
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
   
3/2019
 
4
Australian Dollar
$
290,800
$
2,233
   
3/2019
 
25
Canadian Dollar
 
1,906,125
 
36,125
   
3/2019
 
21
Pound Sterling
 
1,724,756
 
72,713
   
3/2019
 
3,082
U.S. Treasury Note, 2 Year
 
654,395,284
 
4,141,444
   
3/2019
 
566
U.S. Treasury Note, 5 Year
 
65,010,406
 
973,547
   
3/2019
 
117
U.S. Treasury Note, 10 Year
 
14,328,844
 
392,001
   
Total Long Positions
$
737,656,215
$
5,618,063
   
                     
Short Futures:
                   
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
   
3/2019
 
668
Euro-Bobl
$
(101,637,281)
$
(530,192)
   
3/2019
 
114
Euro-Bund
 
(21,617,342)
 
(396,309)
   
3/2019
 
29
Euro-Buxl Bond, 30 Year
 
(6,169,323)
 
(290,111)
   
3/2019
 
565
Euro-OAT
 
(98,893,172)
 
(1,319,203)
   
3/2019
 
23
Euro
 
(3,302,369)
 
(21,557)
   
3/2019
 
175
United Kingdom Long Gilt Bond
 
(28,353,825)
 
(284,629)
   
3/2019
 
593
U.S. Treasury Long Bond
 
(86,985,688)
 
(3,784,120)
   
3/2019
 
514
U.S. Treasury Note, 10 Year
 
(62,948,938)
 
(1,492,837)
   
3/2019
 
1,003
U.S. Treasury Ultra Long Bond
 
(161,608,375)
 
(8,246,204)
   
3/2019
 
2,781
U.S. Treasury Ultra Note, 10 Year
 
(363,441,938)
 
(12,330,285)
   
Total Short Positions
$
(934,958,251)
$
(28,695,447)
   
Total Futures
$
(23,077,384)
   

At January  31, 2019, the Fund had $21,522,223 deposited in a segregated account to cover margin requirements on open futures.The Fund had securities pledged in the amount of $11,973,746 to cover collateral requirements on open futures.

Forward foreign currency contracts ("forward contracts")
           
             
 
At January 31, 2019, open forward contracts for the Fund were as follows:
         
                   
Currency Purchased
   
Currency Sold
 
Counterparty
 
Settlement
Date
     
Net
Unrealized
Appreciation/
(Depreciation)
30,412,495
 
ARS
 
770,912
 
USD
 
GSI
 
3/15/2019
   
$
11,549
10,103,384
 
BRL
 
2,721,230
 
USD
 
GSI
 
4/15/2019
     
35,663
847,390
 
BRL
 
226,957
 
USD
 
GSI
 
4/15/2019
     
4,269
1,081,088
 
BRL
 
284,357
 
USD
 
JPM
 
4/15/2019
     
10,638
9,188,311
 
CNY
 
1,361,326
 
USD
 
JPM
 
4/15/2019
     
8,510
4,607,785
 
CNY
 
666,158
 
USD
 
JPM
 
10/18/2019
     
18,938
1,738,553,391
 
COP
 
554,039
 
USD
 
GSI
 
2/15/2019
     
5,619
676,773,498
 
COP
 
213,443
 
USD
 
GSI
 
2/15/2019
     
4,417
459,297,187
 
COP
 
144,760
 
USD
 
GSI
 
2/15/2019
     
3,092
7,568,765,445
 
COP
 
2,384,877
 
USD
 
JPM
 
2/15/2019
     
51,589
799,944
 
EUR
 
20,755,633
 
CZK
 
JPM
 
3/22/2019
     
4,327
57,260,633
 
USD
 
369,703,275
 
DKK
 
GSI
 
4/16/2019
     
208,208
29,380,760
 
CZK
 
1,141,317
 
EUR
 
GSI
 
3/22/2019
     
4,162
1,789,547
 
EUR
 
2,044,222
 
USD
 
JPM
 
2/5/2019
     
4,264
237,205
 
EUR
 
269,644
 
USD
 
JPM
 
2/5/2019
     
1,883
144,337
 
EUR
 
164,547
 
USD
 
JPM
 
2/5/2019
     
674
160,990
 
EUR
 
184,232
 
USD
 
JPM
 
3/5/2019
     
488
144,337
 
EUR
 
165,413
 
USD
 
JPM
 
3/5/2019
     
199
2,660,478
 
EUR
 
3,059,510
 
USD
 
GSI
 
4/16/2019
     
4,440
780,741
 
EUR
 
897,653
 
USD
 
GSI
 
4/16/2019
     
1,490
5,913,853
 
RON
 
1,259,717
 
EUR
 
GSI
 
3/7/2019
     
17,711
1,937,700
 
RON
 
412,781
 
EUR
 
GSI
 
3/7/2019
     
5,836
550,926
 
RON
 
117,373
 
EUR
 
JPM
 
3/7/2019
     
1,673
269,177
 
USD
 
233,092
 
EUR
 
JPM
 
2/5/2019
     
2,358
665,669
 
USD
 
580,626
 
EUR
 
JPM
 
2/5/2019
     
1,029
159,955
 
USD
 
139,435
 
EUR
 
JPM
 
2/5/2019
     
344
15,395,541
 
USD
 
13,390,000
 
EUR
 
JPM
 
3/5/2019
     
31,826
25,992,602
 
USD
 
22,481,469
 
EUR
 
GSI
 
4/16/2019
     
101,732
24,383,607
 
USD
 
21,089,820
 
EUR
 
GSI
 
4/16/2019
     
95,435
550,452
 
USD
 
473,465
 
EUR
 
GSI
 
4/16/2019
     
5,185
570,799
 
USD
 
493,693
 
EUR
 
GSI
 
4/16/2019
     
2,236
485,008
 
USD
 
419,491
 
EUR
 
GSI
 
4/16/2019
     
1,900
472,470
 
USD
 
409,448
 
EUR
 
GSI
 
4/16/2019
     
928
17,387,683
 
USD
 
15,019,422
 
EUR
 
JPM
 
5/3/2019
     
65,674
17,387,683
 
USD
 
15,019,422
 
EUR
 
JPM
 
5/3/2019
     
65,674
826,685
 
USD
 
714,088
 
EUR
 
JPM
 
5/3/2019
     
3,122
826,685
 
USD
 
714,088
 
EUR
 
JPM
 
5/3/2019
     
3,122
2,642,716
 
EUR
 
2,394,501
 
GBP
 
GSI
 
4/16/2019
     
108,637
2,310,678
 
GBP
 
2,932,413
 
USD
 
GSI
 
4/16/2019
     
109,373
404,503
 
EUR
 
128,958,883
 
HUF
 
GSI
 
3/22/2019
     
3,954
1,189,420
 
EUR
 
381,600,146
 
HUF
 
JPM
 
3/22/2019
     
20,362
238,452
 
EUR
 
75,990,270
 
HUF
 
JPM
 
4/30/2019
     
2,120
100,816
 
EUR
 
32,046,628
 
HUF
 
JPM
 
4/30/2019
     
598
18,447,668,742
 
IDR
 
1,310,018
 
USD
 
GSI
 
2/4/2019
     
10,266
1,966,939,169
 
IDR
 
133,497
 
USD
 
GSI
 
2/4/2019
     
7,276
2,016,664,656
 
IDR
 
141,322
 
USD
 
GSI
 
2/4/2019
     
3,009
1,496,819,685
 
IDR
 
105,573
 
USD
 
GSI
 
2/4/2019
     
1,553
1,685,917,350
 
IDR
 
119,807
 
USD
 
GSI
 
2/4/2019
     
853
984,061,649
 
IDR
 
69,930
 
USD
 
GSI
 
2/4/2019
     
498
21,258,113,253
 
IDR
 
1,510,668
 
USD
 
JPM
 
2/4/2019
     
10,758
21,258,113,253
 
IDR
 
1,494,419
 
USD
 
JPM
 
4/15/2019
     
19,541
4,469,714,888
 
IDR
 
314,215
 
USD
 
JPM
 
4/15/2019
     
4,109
1,352,300
 
USD
 
96,374,356
 
INR
 
GSI
 
4/15/2019
     
6,034
22,147,709
 
MXN
 
1,085,108
 
USD
 
GSI
 
4/3/2019
     
63,081
9,918,324
 
MXN
 
476,894
 
USD
 
GSI
 
4/3/2019
     
37,295
17,366,070
 
MXN
 
870,049
 
USD
 
GSI
 
4/3/2019
     
30,249
14,185,063
 
MXN
 
720,462
 
USD
 
GSI
 
4/3/2019
     
14,924
15,126,433
 
MXN
 
769,283
 
USD
 
GSI
 
4/3/2019
     
14,907
4,270,630
 
MXN
 
212,532
 
USD
 
GSI
 
4/3/2019
     
8,867
2,223,503
 
MXN
 
107,359
 
USD
 
GSI
 
4/3/2019
     
7,912
2,105,267
 
MXN
 
102,569
 
USD
 
GSI
 
4/3/2019
     
6,573
3,655,384
 
MXN
 
187,414
 
USD
 
GSI
 
4/3/2019
     
2,090
3,078,331
 
MXN
 
157,531
 
USD
 
GSI
 
4/3/2019
     
2,057
20,957,814
 
MXN
 
1,007,412
 
USD
 
JPM
 
4/3/2019
     
79,090
17,859,347
 
MXN
 
922,930
 
USD
 
JPM
 
4/3/2019
     
2,941
271,300
 
USD
 
5,224,585
 
MXN
 
GSI
 
4/3/2019
     
445
416,108
 
USD
 
7,984,843
 
MXN
 
JPM
 
4/3/2019
     
2,155
4,334,780
 
PEN
 
1,276,550
 
USD
 
JPM
 
3/5/2019
     
24,946
1,515,853
 
PEN
 
451,214
 
USD
 
JPM
 
3/5/2019
     
3,913
380,481
 
PEN
 
113,286
 
USD
 
JPM
 
3/5/2019
     
952
1,292,053
 
PEN
 
387,678
 
USD
 
JPM
 
3/5/2019
     
255
1,113,447
 
EUR
 
4,775,270
 
PLN
 
GSI
 
2/7/2019
     
8,201
51,009,384
 
RUB
 
759,160
 
USD
 
GSI
 
3/6/2019
     
17,717
29,227,818
 
RUB
 
435,562
 
USD
 
GSI
 
3/6/2019
     
9,580
20,116,563
 
RUB
 
300,004
 
USD
 
GSI
 
3/6/2019
     
6,373
27,085,352
 
RUB
 
407,918
 
USD
 
GSI
 
3/6/2019
     
4,595
23,964,772
 
RUB
 
361,278
 
USD
 
GSI
 
3/6/2019
     
3,708
10,026,718
 
RUB
 
145,630
 
USD
 
JPM
 
3/6/2019
     
7,078
22,883,678
 
RUB
 
341,997
 
USD
 
JPM
 
3/6/2019
     
6,523
67,025,180
 
THB
 
2,105,265
 
USD
 
JPM
 
3/11/2019
     
41,868
15,649,463
 
TRY
 
2,816,494
 
USD
 
GSI
 
3/11/2019
     
148,800
435,241
 
TRY
 
76,823
 
USD
 
GSI
 
3/11/2019
     
5,647
3,792,894
 
TRY
 
682,095
 
USD
 
JPM
 
3/11/2019
     
36,591
1,997,914
 
TRY
 
356,992
 
USD
 
JPM
 
3/11/2019
     
21,577
2,139,634
 
TRY
 
395,835
 
USD
 
JPM
 
3/11/2019
     
9,588
648,177
 
TRY
 
115,573
 
USD
 
JPM
 
3/11/2019
     
7,245
726,627
 
TRY
 
130,823
 
USD
 
JPM
 
3/11/2019
     
6,860
1,625,445
 
TRY
 
301,140
 
USD
 
JPM
 
3/11/2019
     
6,852
28,980,295
 
ZAR
 
2,015,736
 
USD
 
GSI
 
2/11/2019
     
167,472
14,923,829
 
ZAR
 
1,082,449
 
USD
 
GSI
 
2/11/2019
     
41,826
3,164,332
 
ZAR
 
217,800
 
USD
 
GSI
 
2/11/2019
     
20,583
4,899,004
 
ZAR
 
355,389
 
USD
 
GSI
 
2/11/2019
     
13,673
1,717,683
 
ZAR
 
118,607
 
USD
 
JPM
 
2/11/2019
     
10,793
     
Total unrealized appreciation
$
2,004,947
   
362,725
 
USD
 
1,357,753
 
BRL
 
GSI
 
4/15/2019
     
(7,763)
90,143
 
USD
 
631,210
 
CNY
 
JPM
 
10/18/2019
     
(3,707)
568,137
 
USD
 
3,976,575
 
CNY
 
JPM
 
10/18/2019
     
(23,109)
134,696
 
USD
 
424,713,876
 
COP
 
GSI
 
2/15/2019
     
(2,024)
318,614
 
EUR
 
8,227,593
 
CZK
 
JPM
 
3/22/2019
     
(25)
93,325
 
EUR
 
107,260
 
USD
 
JPM
 
2/5/2019
     
(431)
464,838
 
EUR
 
533,308
 
USD
 
JPM
 
2/5/2019
     
(1,210)
15,019,422
 
EUR
 
17,259,569
 
USD
 
JPM
 
2/6/2019
     
(65,471)
15,019,422
 
EUR
 
17,259,569
 
USD
 
JPM
 
2/6/2019
     
(65,471)
143,922
 
EUR
 
165,660
 
USD
 
GSI
 
3/5/2019
     
(524)
9,369,570
 
HUF
 
29,407
 
EUR
 
JPM
 
4/30/2019
     
(255)
655,880
 
PLN
 
152,222
 
EUR
 
GSI
 
2/7/2019
     
(1,938)
1,916,769
 
PLN
 
445,983
 
EUR
 
JPM
 
2/7/2019
     
(4,377)
2,202,621
 
PLN
 
511,645
 
EUR
 
JPM
 
2/7/2019
     
(6,001)
4,775,270
 
PLN
 
1,107,800
 
EUR
 
GSI
 
5/7/2019
     
(8,204)
165,025
 
USD
 
144,337
 
EUR
 
JPM
 
2/5/2019
     
(197)
270,535
 
USD
 
238,343
 
EUR
 
JPM
 
2/5/2019
     
(2,295)
545,062
 
USD
 
479,608
 
EUR
 
JPM
 
2/5/2019
     
(3,943)
1,041,549
 
USD
 
913,811
 
EUR
 
JPM
 
2/5/2019
     
(4,486)
16,555,725
 
USD
 
14,551,000
 
EUR
 
GSI
 
2/6/2019
     
(102,128)
137,828
 
USD
 
120,209
 
EUR
 
JPM
 
3/5/2019
     
(100)
1,308,300
 
USD
 
1,140,395
 
EUR
 
JPM
 
3/5/2019
     
(192)
2,049,051
 
USD
 
1,789,547
 
EUR
 
JPM
 
3/5/2019
     
(4,279)
466,839
 
USD
 
405,897
 
EUR
 
GSI
 
4/16/2019
     
(614)
449,106
 
USD
 
392,323
 
EUR
 
GSI
 
4/16/2019
     
(2,714)
556,090
 
USD
 
485,897
 
EUR
 
GSI
 
4/16/2019
     
(3,495)
16,946,129
 
USD
 
14,735,956
 
EUR
 
GSI
 
4/16/2019
     
(24,592)
54,789,337
 
USD
 
47,643,523
 
EUR
 
GSI
 
4/16/2019
     
(79,509)
26,540
 
USD
 
20,691
 
GBP
 
GSI
 
4/16/2019
     
(698)
35,765
 
USD
 
27,720
 
GBP
 
GSI
 
4/16/2019
     
(726)
100,365
 
USD
 
77,914
 
GBP
 
GSI
 
4/16/2019
     
(2,201)
340,628
 
USD
 
263,874
 
GBP
 
GSI
 
4/16/2019
     
(6,736)
457,426
 
USD
 
353,416
 
GBP
 
GSI
 
4/16/2019
     
(7,812)
2,158,431
 
USD
 
1,700,798
 
GBP
 
GSI
 
4/16/2019
     
(80,505)
9,067,578
 
USD
 
7,065,691
 
GBP
 
GSI
 
4/16/2019
     
(233,725)
14,209,689
 
USD
 
11,196,931
 
GBP
 
GSI
 
4/16/2019
     
(529,994)
21,967,339
 
USD
 
17,117,518
 
GBP
 
GSI
 
4/16/2019
     
(566,229)
106,369
 
USD
 
1,496,819,685
 
IDR
 
GSI
 
2/4/2019
     
(757)
139,777
 
USD
 
1,966,939,169
 
IDR
 
GSI
 
2/4/2019
     
(995)
143,310
 
USD
 
2,016,664,656
 
IDR
 
GSI
 
2/4/2019
     
(1,021)
67,342
 
USD
 
984,061,649
 
IDR
 
GSI
 
2/4/2019
     
(3,087)
116,206
 
USD
 
1,685,917,350
 
IDR
 
GSI
 
2/4/2019
     
(4,454)
1,310,949
 
USD
 
18,447,668,742
 
IDR
 
GSI
 
2/4/2019
     
(9,335)
1,508,738
 
USD
 
21,258,113,253
 
IDR
 
JPM
 
2/4/2019
     
(12,688)
527,391
 
USD
 
57,476,472
 
JPY
 
GSI
 
3/18/2019
     
(2,083)
1,354,301
 
USD
 
1,508,103,995
 
KRW
 
GSI
 
4/15/2019
     
(4,187)
2,045,034
 
MXN
 
107,438
 
USD
 
GSI
 
4/3/2019
     
(1,419)
7,879,591
 
MXN
 
412,702
 
USD
 
JPM
 
4/3/2019
     
(4,205)
1,608,199
 
USD
 
31,033,563
 
MXN
 
GSI
 
4/3/2019
     
(653)
108,561
 
USD
 
2,139,842
 
MXN
 
GSI
 
4/3/2019
     
(2,373)
148,407
 
USD
 
2,959,444
 
MXN
 
GSI
 
4/3/2019
     
(5,017)
276,542
 
USD
 
5,448,408
 
MXN
 
GSI
 
4/3/2019
     
(5,916)
99,210
 
USD
 
2,047,055
 
MXN
 
GSI
 
4/3/2019
     
(6,914)
183,725
 
USD
 
3,725,825
 
MXN
 
GSI
 
4/3/2019
     
(9,431)
876,226
 
USD
 
17,254,143
 
MXN
 
GSI
 
4/3/2019
     
(18,269)
359,057
 
USD
 
7,325,206
 
MXN
 
GSI
 
4/3/2019
     
(20,699)
924,620
 
USD
 
18,806,720
 
MXN
 
GSI
 
4/3/2019
     
(50,365)
184,732
 
USD
 
3,633,716
 
MXN
 
JPM
 
4/3/2019
     
(3,648)
1,109,781
 
USD
 
22,101,063
 
MXN
 
JPM
 
4/3/2019
     
(35,990)
669,928
 
EUR
 
3,147,447
 
RON
 
GSI
 
3/7/2019
     
(8,837)
1,119,109
 
EUR
 
5,255,032
 
RON
 
GSI
 
3/7/2019
     
(15,426)
103,621
 
USD
 
6,944,719
 
RUB
 
GSI
 
3/6/2019
     
(2,148)
1,268,569
 
USD
 
86,026,649
 
RUB
 
GSI
 
3/6/2019
     
(41,624)
1,500,714
 
USD
 
102,162,353
 
RUB
 
GSI
 
3/6/2019
     
(55,227)
755,465
 
USD
 
23,814,213
 
THB
 
JPM
 
3/11/2019
     
(7,417)
341,463
 
USD
 
1,910,804
 
TRY
 
GSI
 
3/11/2019
     
(20,601)
449,850
 
USD
 
2,567,644
 
TRY
 
GSI
 
3/11/2019
     
(36,673)
117,625
 
USD
 
640,119
 
TRY
 
JPM
 
3/11/2019
     
(3,666)
326,252
 
USD
 
1,798,909
 
TRY
 
JPM
 
3/11/2019
     
(14,609)
269,133
 
USD
 
1,506,460
 
TRY
 
JPM
 
3/11/2019
     
(16,314)
536,400
 
USD
 
3,049,860
 
TRY
 
JPM
 
3/11/2019
     
(41,494)
696,206
 
USD
 
9,306,495
 
ZAR
 
GSI
 
2/11/2019
     
(4,893)
267,622
 
USD
 
3,750,242
 
ZAR
 
JPM
 
2/11/2019
     
(14,900)
279,585
 
USD
 
3,947,262
 
ZAR
 
JPM
 
2/11/2019
     
(17,779)
694,313
 
USD
 
9,674,179
 
ZAR
 
JPM
 
2/11/2019
     
(34,484)
1,126,666
 
USD
 
15,801,564
 
ZAR
 
JPM
 
2/11/2019
     
(63,733)
     
Total unrealized depreciation
$
(2,451,011)
     
Total net unrealized depreciation
$
(446,064)

At January  31, 2019, the Fund had cash collateral of $60,000 deposited in a segregated account for Goldman Sachs International and received cash collateral of $100,000 from JPMorgan Chase Bank N.A., respectively, to cover collateral requirements on over-the-counter derivatives.
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Strategic Income Fund
(Unaudited) (cont’d)
 

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3(b)
   
Total
 
Investments:
       
Common Stock(a)
 
$
53
   
$
   
$
   
$
53
 
Loan Assignments
                               
Steel
   
     
     
639
     
639
 
Other Loan Assignments(a)
   
     
41,480
     
     
41,480
 
Total Loan Assignments
   
     
41,480
     
639
     
42,119
 
U.S. Treasury Obligations
   
     
470,714
     
     
470,714
 
U.S. Government Agency Securities
   
     
2,682
     
     
2,682
 
Mortgage-Backed Securities(a)
   
     
974,851
     
     
974,851
 
Corporate Bonds(a)
   
     
1,345,679
     
     
1,345,679
 
Municipal Notes(a)
   
     
26,865
     
     
26,865
 
Asset-Backed Securities
   
     
255,048
     
     
255,048
 
Foreign Government Securities
   
     
246,687
     
     
246,687
 
Developed Markets Ex- U.S.(a)
   
     
188
     
     
188
 
Short-Term Investments
   
     
15,993
     
     
15,993
 
Total Investments
 
$
53
   
$
3,380,187
   
$
639
   
$
3,380,879
 
 
(a)
The Schedule of Investments provides information on the industry, state/territory or sector categorization for the portfolio.
   
(b)
The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

 
 
 
 
 
Beginning balance, as
of  11/1/2018
 
 
 
 
 
Accrued discounts/
(premiums)
 
 
 
 
 
Realized gain/
(loss)
 
 
 
 
Change in unrealized appreciation/
(depreciation)
 
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
Sales
 
 
 
 
 
Transfers
into
Level 3
 
 
 
 
 
Transfers
out of
Level 3
 
 
 
 
 
Balance,
as of
1/31/2019
Net change in unrealized appreciation/
(depreciation) from
investments
still held as of 1/31/2019
Investments in Securities:
                   
(000’s omitted)
                   
Loan Assignments(c)
                   
Building &      Development
$434
$-
$(11)
$-
$-
$(423)
$-
$-
$-
$-
Business Equipment & Services
621
-
-
-
-
-
-
(621)
-
-
Chemicals & Plastics
70
-
-
-
-
(70)
-
-
-
-
Electronics - Electrical
175
-
(1)
(1)
-
(173)
-
-
-
-
Food Products
209
-
-
-
-
(209)
-
-
-
-
Food Service
459
-
(6)
-
-
(453)
-
-
-
-
Health Care
103
                 -
              (6)
                 1
                 -
              (98)
               -
                -
                 -
                 -
Oil & Gas
511
                 -
         (24)
                 1
                 -
       (488)
               -
                -
                 -
                 -
Steel
1,195
                 -
        (16)
                 (7)
                 -
       (533)
                -
                -
            639
                 (6)
Total
 $3,777
 $-
 $(64)
 $(6)
 $-
 $(2,447)
 $-
 $(621)
 $639
 $(6)

(c)
Securities categorized as Level 3 are valued based on a single quotation obtained from a dealer. The Fund does not have access to unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.
 

 
See Notes to Schedule of Investments

Schedule of Investments Strategic Income Fund
(Unaudited) (cont’d)
 

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of January 31, 2019:
 
Other Financial Instruments
       
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Futures(a)
                       
Assets
 
$
5,618
   
$
   
$
   
$
5,618
 
Liabilities
   
(28,695
)
   
     
     
(28,695
)
Forward Contracts(a)
                               
Assets
   
     
2,005
     
     
2,005
 
Liabilities
   
     
(2,451
)
   
     
(2,451
)
Total
 
$
(23,077
)
 
$
(446
)
 
$
   
$
(23,523
)
 
(a)
Futures and forward contracts are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^
A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.
 
 
 
 
 
 
 
See Notes to Schedule of Investments

Schedule of Investments Unconstrained Bond Fund^
(Unaudited) January 31, 2019
 
 
PRINCIPAL
AMOUNT
(a)
   
VALUE
(000's omitted)
   
(000's omitted)
 
U.S. Treasury Obligations 11.5%
 
$
1,450
 
U.S. Treasury Bill, 2.33%, due 2/28/19
$
1,448
(b)(c)
       
U.S. Treasury Inflation-Indexed Bonds (d)
     
   
676
 
 0.25%, due 1/15/25
 
658
 
   
3,803
 
 2.00%, due 1/15/26
 
4,129
 
   
2,538
 
 3.88%, due 4/15/29
 
3,292
 
 
 
Total U.S. Treasury Obligations (Cost $9,544)
 
9,527
 
 
Mortgage-Backed Securities 10.4%
 
Collateralized Mortgage Obligations 8.0%
       
Fannie Mae Connecticut Avenue Securities
     
   
575
 
Ser. 2017-C02, Class 2M2, (1 month USD LIBOR + 3.65%), 6.16%, due 9/25/29
 
620
(e)
   
635
 
Ser. 2017-C03, Class 1M2, (1 month USD LIBOR + 3.00%), 5.51%, due 10/25/29
 
672
(e)
   
631
 
Ser. 2017-C04, Class 2M2, (1 month USD LIBOR + 2.85%), 5.36%, due 11/25/29
 
653
(e)
   
715
 
Ser. 2017-C05, Class 1M2, (1 month USD LIBOR + 2.20%), 4.71%, due 1/25/30
 
728
(e)
   
620
 
Ser. 2017-C06, Class 1M2, (1 month USD LIBOR + 2.65%), 5.16%, due 2/25/30
 
641
(e)
   
640
 
Ser. 2017-C06, Class 2M2, (1 month USD LIBOR + 2.80%), 5.31%, due 2/25/30
 
659
(e)
   
630
 
Ser. 2017-C07, Class 2M2, (1 month USD LIBOR + 2.50%), 5.01%, due 5/25/30
 
641
(e)
       
Freddie Mac Structured Agency Credit Risk Debt Notes
     
   
850
 
Ser. 2017-DNA2, Class M2, (1 month USD LIBOR + 3.45%), 5.96%, due 10/25/29
 
917
(e)
   
600
 
Ser. 2017-HQA2, Class M2, (1 month USD LIBOR + 2.65%), 5.16%, due 12/25/29
 
619
(e)
   
520
 
Ser. 2018-HQA1, Class M2, (1 month USD LIBOR + 2.30%), 4.81%, due 9/25/30
 
516
(e)
 
6,666
 
Commercial Mortgage-Backed 0.4%
   
956
 
Citigroup Commercial Mortgage Trust, Ser. 2015-GC27, Class XA, 1.38%, due 2/10/48
 
61
(f)(g)
       
Commercial Mortgage Trust
     
   
770
 
Ser. 2014-CR16, Class XA, 1.09%, due 4/10/47
 
29
(f)(g)
   
905
 
Ser. 2014-LC15, Class XA, 1.24%, due 4/10/47
 
35
(f)(g)
   
794
 
Morgan Stanley Bank of America Merrill Lynch Trust, Ser. 2014-C16, Class XA, 1.12%, due 6/15/47
 
30
(f)(g)
       
WF-RBS Commercial Mortgage Trust
     
   
919
 
Ser. 2014-LC14, Class XA, 1.27%, due 3/15/47
 
42
(f)(g)
   
4,065
 
Ser. 2014-C21, Class XA, 1.07%, due 8/15/47
 
170
(f)(g)
 
367
 
Fannie Mae 1.3%
   
1,035
 
Pass-Through Certificates, 4.00%, TBA, 30 Year Maturity
 
1,059
(h)
 
Freddie Mac 0.7%
 
 
555
 
Pass-Through Certificates, 4.00%, TBA, 30 Year Maturity
 
568
(h)
 
 
Total Mortgage-Backed Securities (Cost $8,678)
 
8,660
 
 
Corporate Bonds 46.5%
 
Aerospace & Defense 0.2%
 
EUR
127
 
Leonardo-Finmeccanica SpA, 4.50%, due 1/19/21
 
156
 
 
Agriculture 0.4%
 
GBP
265
 
BAT Capital Corp., 2.13%, due 8/15/25
 
330
(i)
 
Airlines 0.2%
 
$
174
 
American Airlines, Inc., 4.38%, due 10/1/22
 
173
 
 
Apparel 0.4%
 
EUR
200
 
Levi Strauss & Co., 3.38%, due 3/15/27
 
235
 
 
EUR
100
 
PVH Corp., 3.63%, due 7/15/24
 
123
(i)
 
358
 
Auto Manufacturers 1.4%
 
EUR
162
 
Fiat Chrysler Automobiles NV, 3.75%, due 3/29/24
 
197
(i)
 
EUR
455
 
Volkswagen Bank GmbH, 1.25%, due 12/15/25
 
492
(i)
 
EUR
400
 
Volkswagen Int'l Finance NV, (7 year EUR Swap + 2.20%), 2.50%, due 3/20/22
 
451
(e)(i)(j)
 
1,140
 
Auto Parts & Equipment 0.9%
 
EUR
100
 
Goodyear Dunlop Tires Europe BV, 3.75%, due 12/15/23
 
115
(i)
 
EUR
250
 
LKQ Italia Bondco SpA, 3.88%, due 4/1/24
 
296
(i)
 
EUR
100
 
Schaeffler Finance BV, 3.50%, due 5/15/22
 
116
(i)
 
EUR
182
 
Tenneco, Inc., 4.88%, due 4/15/22
 
213
(i)
 
740
 
Banks 4.8%
 
$
590
 
Barclays PLC, 4.34%, due 1/10/28
 
568
(k)
 
GBP
200
 
CYBG PLC, (6 month GBP LIBOR + 2.29%), 3.13%, due 6/22/25
 
245
(e)(i)
 
GBP
200
 
Deutsche Bank AG, 1.88%, due 2/28/20
 
260
(i)(k)
 
$
790
 
HSBC Holdings PLC, (5 year USD ICE Swap + 3.75%), 6.00%, due 5/22/27
 
760
(e)(j)(k)
 
EUR
750
 
Lloyds Banking Group PLC, 1.00%, due 11/9/23
 
845
(i)(k)
 
$
400
 
Morgan Stanley, Ser. H, (3 month USD LIBOR + 3.61%), 5.45%, due 7/15/19
 
401
(e)(j)
       
Royal Bank of Scotland Group PLC
     
 
EUR
100
 
(3 month EURIBOR + 2.04%), 2.00%, due 3/8/23
 
116
(e)(i)
 
EUR
500
 
(5 year EUR Swap + 2.65%), 3.63%, due 3/25/24
 
573
(e)(i)(k)
 
$
200
 
TC Ziraat Bankasi AS, 5.13%, due 5/3/22
 
186
(i)
 
3,954
 
Beverages 0.7%
   
545
 
Anheuser-Busch InBev Worldwide, Inc., 4.75%, due 1/23/29
 
566
 
 
Building Materials 0.3%
 
EUR
200
 
CEMEX Finance LLC, 4.63%, due 6/15/24
 
238
(i)
 
Chemicals 1.5%
 
EUR
100
 
Axalta Coating Systems Dutch Holding B BV, 3.75%, due 1/15/25
 
114
(i)
 
EUR
100
 
Axalta Coating Systems LLC, 4.25%, due 8/15/24
 
117
(i)
 
EUR
100
 
CeramTec BondCo GmbH, 5.25%, due 12/15/25
 
111
(i)
 
EUR
264
 
Huntsman Int'l LLC, 4.25%, due 4/1/25
 
332
 
 
EUR
250
 
Ineos Group Holdings SA, 5.38%, due 8/1/24
 
290
(i)
 
EUR
200
 
Solvay Finance SA, (5 year EUR Swap + 5.22%), 5.87%, due 6/3/24
 
255
(e)(i)(j)
 
1,219
 
Commercial Services 1.4%
 
EUR
200
 
Avis Budget Finance PLC, 4.50%, due 5/15/25
 
229
(i)
 
EUR
131
 
Blitz F18-674 GmbH, 6.00%, due 7/30/26
 
150
(i)
 
EUR
190
 
Europcar Mobility Group, 4.13%, due 11/15/24
 
213
(i)
       
Hertz Holdings Netherlands BV
     
 
EUR
100
 
4.13%, due 10/15/21
 
115
(i)
 
EUR
100
 
5.50%, due 3/30/23
 
113
(i)
 
EUR
132
 
Intertrust Group BV, 3.38%, due 11/15/25
 
151
(i)
 
EUR
200
 
Loxam SAS, 6.00%, due 4/15/25
 
235
(i)
 
1,206
 
Computers 1.1%
 
$
620
 
Diamond 1 Finance Corp./Diamond 2 Finance Corp., 6.02%, due 6/15/26
 
648
(k)(l)
   
290
 
HP Enterprise Co., 4.90%, due 10/15/25
 
303
 
 
951
 
Diversified Financial Services 0.1%
 
GBP
100
 
Vantiv LLC/Vantiv Issuer Corp., 3.88%, due 11/15/25
 
127
(i)
 
Electric 4.3%
 
GBP
100
 
Drax Finco PLC, 4.25%, due 5/1/22
 
131
(i)
       
EnBW Energie Baden-Wuerttemberg AG
     
 
EUR
100
 
(5 year EUR Swap + 2.34%), 3.63%, due 4/2/76
 
119
(e)(i)
 
EUR
340
 
(5 year EUR Swap + 3.63%), 3.38%, due 4/5/77
 
405
(e)(i)
 
$
200
 
Eskom Holdings SOC Ltd., 7.13%, due 2/11/25
 
197
(i)
 
GBP
200
 
Iberdrola Finanzas SA, 7.38%, due 1/29/24
 
326
 
 
GBP
470
 
innogy Finance BV, 5.63%, due 12/6/23
 
718
(i)(k)
 
GBP
417
 
NGG Finance PLC, (12 year GBP Swap + 3.48%), 5.63%, due 6/18/73
 
585
(e)(i)(k)
 
GBP
155
 
NWEN Finance PLC, 5.88%, due 6/21/21
 
207
(i)
       
Orano SA
     
 
EUR
50
 
3.50%, due 3/22/21
 
60
(i)
 
EUR
300
 
3.13%, due 3/20/23
 
344
(i)
 
$
525
 
SSE PLC, (5 year USD Swap + 2.57%), 4.75%, due 9/16/77
 
499
(e)(i)
 
3,591
 
Electrical Components & Equipment 0.4%
 
EUR
196
 
Belden, Inc., 3.38%, due 7/15/27
 
216
(i)
 
EUR
100
 
Energizer Gamma Acquisition BV, 4.63%, due 7/15/26
 
112
(i)
 
328
 
Engineering & Construction 0.1%
 
EUR
100
 
SPIE SA, 3.13%, due 3/22/24
 
115
(i)
 
Entertainment 1.4%
 
GBP
200
 
AMC Entertainment Holdings, Inc., 6.38%, due 11/15/24
 
248
 
 
EUR
100
 
Cirsa Finance Int'l S.a.r.l, 6.25%, due 12/20/23
 
119
(i)
 
EUR
201
 
Codere Finance 2 Luxembourg SA, 6.75%, due 11/1/21
 
214
(i)
 
EUR
170
 
Int'l Game Technology PLC, 4.75%, due 2/15/23
 
208
(i)
       
Scientific Games Int'l, Inc.
     
 
EUR
100
 
3.38%, due 2/15/26
 
107
(i)
 
EUR
100
 
5.50%, due 2/15/26
 
99
(i)
 
EUR
180
 
WMG Acquisition Corp., 4.13%, due 11/1/24
 
214
(i)
 
1,209
 
Environmental Control 0.5%
 
GBP
100
 
Kelda Finance No 3 PLC, 5.75%, due 2/17/20
 
131
(i)
 
EUR
285
 
Paprec Holding SA, 4.00%, due 3/31/25
 
277
(i)
 
408
 
Food 1.8%
 
EUR
200
 
Casino Guichard Perrachon SA, 4.50%, due 3/7/24
 
220
(i)
 
$
495
 
Conagra Brands, Inc., 4.85%, due 11/1/28
 
501
 
 
EUR
150
 
Darling Global Finance BV, 3.63%, due 5/15/26
 
176
(i)
 
EUR
215
 
Nomad Foods Bondco PLC, 3.25%, due 5/15/24
 
249
(i)
 
GBP
100
 
Premier Foods Finance PLC, 6.25%, due 10/15/23
 
130
(i)
 
GBP
146
 
Tesco PLC, 5.50%, due 1/13/33
 
223
 
 
1,499
 
Food Service 0.3%
 
EUR
200
 
Aramark Int'l Finance S.a.r.l., 3.13%, due 4/1/25
 
234
(i)
 
Forest Products & Paper 0.2%
 
EUR
155
 
Smurfit Kappa Acquisitions, 2.75%, due 2/1/25
 
184
(i)
 
Gas 0.6%
       
Centrica PLC
     
 
GBP
200
 
6.40%, due 9/4/26
 
335
(i)
 
GBP
100
 
4.38%, due 3/13/29
 
147
(i)
 
482
 
Healthcare - Services 0.4%
 
EUR
265
 
Catalent Pharma Solutions, Inc., 4.75%, due 12/15/24
 
315
(i)
 
Holding Companies - Diversified 0.4%
 
GBP
100
 
Co-operative Group Holdings 2011 Ltd., 7.50%, due 7/8/26
 
144
(i)
 
EUR
188
 
ProGroup AG, 3.00%, due 3/31/26
 
214
(i)
 
358
 
Home Builders 0.2%
 
GBP
145
 
Miller Homes Group Holdings PLC, 5.50%, due 10/15/24
 
180
(i)
 
Household Products - Wares 0.3%
 
EUR
200
 
Spectrum Brands, Inc., 4.00%, due 10/1/26
 
226
(i)
 
Insurance 0.6%
 
GBP
325
 
Phoenix Group Holdings, 5.75%, due 7/7/21
 
461
(i)
 
Internet 0.1%
 
EUR
100
 
Netflix, Inc., 3.63%, due 5/15/27
 
114
 
 
Iron - Steel 0.1%
 
$
100
 
CSN Resources SA, 6.50%, due 7/21/20
 
99
(i)
 
Leisure Time 0.3%
 
EUR
185
 
Piaggio & C SpA, 3.63%, due 4/30/25
 
216
(i)
 
Media 2.9%
 
EUR
115
 
Altice Finco SA, 4.75%, due 1/15/28
 
108
(i)
 
EUR
175
 
Altice Luxembourg SA, 6.25%, due 2/15/25
 
173
(i)
 
$
430
 
Charter Communications Operating LLC/Charter Communications Operating Capital, 4.20%, due 3/15/28
 
416
 
 
EUR
300
 
Numericable-SFR SA, 5.63%, due 5/15/24
 
354
(i)
 
EUR
90
 
Telenet Finance VI Luxembourg SCA, 4.88%, due 7/15/27
 
111
(i)
 
EUR
198
 
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 6.25%, due 1/15/29
 
249
(i)
 
EUR
180
 
UPCB Finance IV Ltd., 4.00%, due 1/15/27
 
212
(i)
       
Virgin Media Secured Finance PLC
     
 
GBP
100
 
5.13%, due 1/15/25
 
133
(i)
 
GBP
100
 
4.88%, due 1/15/27
 
126
(i)
 
GBP
325
 
6.25%, due 3/28/29
 
438
(i)
 
EUR
100
 
Ziggo Bond Co. BV, 7.13%, due 5/15/24
 
120
(i)
 
2,440
 
Mining 0.5%
 
$
200
 
China Minmetals Corp., (5 year CMT + 4.72%), 3.75%, due 11/13/22
 
188
(e)(i)(j)
 
EUR
190
 
Constellium NV, 4.25%, due 2/15/26
 
210
(i)
 
398
 
Miscellaneous Manufacturers 1.8%
 
EUR
300
 
Colfax Corp., 3.25%, due 5/15/25
 
331
(i)
       
General Electric Co.
     
 
$
980
 
Ser. D, (3 month USD LIBOR + 3.33%), 5.00%, due 1/21/21
 
863
(e)(j)(k)
 
EUR
325
 
2.13%, due 5/17/37
 
309
 
 
1,503
 
Multi-National 0.2%
 
$
200
 
Banque Ouest Africaine de Developpement, 5.50%, due 5/6/21
 
205
(i)
 
Oil & Gas 2.3%
   
460
 
Apache Corp., 4.38%, due 10/15/28
 
449
 
   
200
 
KazMunayGas National Co. JSC, 6.38%, due 10/24/48
 
214
(i)
       
Petrobras Global Finance BV
     
 
EUR
261
 
4.75%, due 1/14/25
 
326
 
 
$
50
 
7.38%, due 1/17/27
 
54
 
       
Petroleos de Venezuela SA
     
   
22
 
6.00%, due 5/16/24
 
5
(i)(m)
   
251
 
6.00%, due 11/15/26
 
55
(i)(m)
   
363
 
5.38%, due 4/12/27
 
91
(i)(m)
       
Petroleos Mexicanos
     
   
100
 
5.35%, due 2/12/28
 
88
 
   
16
 
6.50%, due 1/23/29
 
15
 
   
200
 
6.50%, due 6/2/41
 
174
 
 
EUR
170
 
Repsol Int'l Finance BV, (10 year EUR Swap + 4.20%), 4.50%, due 3/25/75
 
206
(e)(i)
 
EUR
172
 
UGI Int'l LLC, 3.25%, due 11/1/25
 
204
(i)
 
1,881
 
Packaging & Containers 2.1%
 
EUR
250
 
ARD Finance SA, ((Cash/17.38% PIK)), 6.63%, due 9/15/23
 
274
(n)
 
EUR
300
 
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 6.75%, due 5/15/24
 
363
(i)
 
EUR
520
 
Crown European Holdings SA, 3.38%, due 5/15/25
 
619
(i)
 
EUR
195
 
Guala Closures SpA, (3 month EURIBOR + 3.50%, Floor 3.50%), 3.50%, due 4/15/24
 
224
(e)(i)
 
EUR
200
 
Silgan Holdings, Inc., 3.25%, due 3/15/25
 
235
 
 
1,715
 
Pharmaceuticals 2.2%
 
$
465
 
CVS Health Corp., 4.30%, due 3/25/28
 
471
 
 
EUR
300
 
Grifols SA, 3.20%, due 5/1/25
 
343
(i)
 
EUR
200
 
Nidda BondCo GmbH, 5.00%, due 9/30/25
 
210
(i)
 
EUR
103
 
Rossini S.a.r.l., 6.75%, due 10/30/25
 
120
(i)
       
Teva Pharmaceutical Finance Netherlands II BV
     
 
EUR
225
 
3.25%, due 4/15/22
 
266
 
 
EUR
100
 
1.88%, due 3/31/27
 
99
(i)
 
EUR
310
 
Valeant Pharmaceuticals Int'l, Inc., 4.50%, due 5/15/23
 
351
(i)
 
1,860
 
Pipelines 1.4%
 
$
200
 
Abu Dhabi Crude Oil Pipeline LLC, 4.60%, due 11/2/47
 
202
(l)
   
735
 
Energy Transfer Partners L.P., Ser. B, (3 month USD LIBOR + 4.16%), 6.63%, due 2/15/28
 
655
(e)(j)(k)
   
280
 
Southern Gas Corridor CJSC, 6.88%, due 3/24/26
 
311
(i)
 
1,168
 
Real Estate 0.3%
 
EUR
200
 
Summit Germany Ltd., 2.00%, due 1/31/25
 
214
(i)
 
Real Estate Investment Trust 1.2%
 
EUR
390
 
Equinix, Inc., 2.88%, due 10/1/25
 
443
 
 
GBP
100
 
Iron Mountain UK PLC, 3.88%, due 11/15/25
 
125
(i)
 
EUR
200
 
Iron Mountain, Inc., 3.00%, due 1/15/25
 
227
(i)
 
EUR
200
 
MPT Operating Partnership L.P./MPT Finance Corp., 3.33%, due 3/24/25
 
233
 
 
1,028
 
Retail 1.6%
 
EUR
100
 
Dufry Finance SCA, 4.50%, due 8/1/23
 
118
(i)
 
EUR
200
 
Dufry One BV, 2.50%, due 10/15/24
 
229
(i)
 
GBP
155
 
Enterprise Inns PLC, 6.00%, due 10/6/23
 
215
(i)
 
GBP
550
 
Next PLC, 4.38%, due 10/2/26
 
775
(i)(k)
 
1,337
 
Semiconductors 0.6%
 
$
540
 
Broadcom Corp./Broadcom Cayman Finance Ltd., 3.88%, due 1/15/27
 
498
 
 
Software 0.9%
 
EUR
100
 
Infor U.S., Inc., 5.75%, due 5/15/22
 
118
 
 
EUR
190
 
InterXion Holding NV, 4.75%, due 6/15/25
 
228
(i)
 
EUR
200
 
IQVIA, Inc., 3.25%, due 3/15/25
 
231
(i)
 
EUR
134
 
Playtech PLC, 3.75%, due 10/12/23
 
151
(i)
 
728
 
Telecommunications 2.5%
 
EUR
300
 
Cellnex Telecom SA, 2.88%, due 4/18/25
 
346
(i)
 
EUR
123
 
DKT Finance ApS, 7.00%, due 6/17/23
 
152
(i)
 
$
200
 
GTH Finance BV, 6.25%, due 4/26/20
 
203
(i)
 
EUR
35
 
Olivetti Finance SA, Ser. 14, 7.75%, due 1/24/33
 
48
 
 
EUR
100
 
SoftBank Group Corp., 5.00%, due 4/15/28
 
116
(i)
       
Telecom Italia SpA
     
 
EUR
50
 
5.25%, due 2/10/22
 
62
(i)
 
EUR
350
 
3.63%, due 1/19/24
 
399
(i)
 
EUR
200
 
3.00%, due 9/30/25
 
215
(i)
       
Verizon Communications, Inc.
     
 
EUR
100
 
1.38%, due 11/2/28
 
112
 
 
EUR
100
 
1.88%, due 10/26/29
 
116
 
       
Wind Tre SpA
     
 
EUR
165
 
(3 month EURIBOR + 2.75%, Floor 2.75%), 2.75%, due 1/20/24
 
169
(e)(i)
 
EUR
111
 
3.13%, due 1/20/25
 
112
(i)
 
2,050
 
Transportation 0.1%
 
EUR
100
 
La Poste SA, (5 year EUR Swap + 2.44%), 3.13%, due 1/29/26
 
106
(e)(i)(j)
 
Water 0.5%
 
GBP
150
 
Anglian Water Osprey Financing PLC, 5.00%, due 4/30/23
 
191
(i)
 
GBP
150
 
Thames Water Utilities Cayman Finance Ltd., 1.88%, due 1/24/24
 
192
(i)
 
383
 
 
 
Total Corporate Bonds (Cost $39,860)
 
38,691
 
 
Asset-Backed Securities 7.9%
 
$
280
 
AM Capital Funding LLC, Ser. 2018-1, Class A, 4.98%, due 12/15/23
 
286
(l)
   
250
 
Ares XLV CLO Ltd., Ser. 2017-45A, Class E, (3 month USD LIBOR + 6.10%), 8.89%, due 10/15/30
 
243
(e)(l)
 
 
300
 
Assurant CLO I Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.46%), 9.22%, due 10/20/29
 
294
(e)(l)
       
Bear Stearns Asset-Backed Securities Trust
     
   
229
 
Ser. 2004-SD3, Class M2, (1 month USD LIBOR + 1.88%), 4.39%, due 9/25/34
 
230
(e)
   
483
 
Ser. 2005-SD2, Class 1M2, (1 month USD LIBOR + 1.00%), 3.51%, due 3/25/35
 
479
(e)
   
250
 
Benefit Street Partners CLO XII Ltd., Ser. 2017-12A, Class D, (3 month USD LIBOR + 6.41%), 9.20%, due 10/15/30
 
242
(e)(l)
   
314
 
Carrington Mortgage Loan Trust, Ser. 2006-RFC1, Class A4, (1 month USD LIBOR + 0.24%), 2.75%, due 3/25/36
 
312
(e)
   
500
 
Dewolf Park CLO Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.20%), 8.99%, due 10/15/30
 
483
(e)(l)
   
250
 
Dryden 54 Senior Loan Fund, Ser. 2017-54A, Class E, (3 month USD LIBOR + 6.20%), 8.96%, due 10/19/29
 
245
(e)(l)
   
300
 
Flatiron CLO Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.00%), 8.62%, due 5/15/30
 
284
(e)(l)
   
250
 
Gilbert Park CLO Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.40%), 9.19%, due 10/15/30
 
244
(e)(l)
   
250
 
Milos CLO Ltd., Ser. 2017-1A, Class E, (3 month USD LIBOR + 6.30%), 9.06%, due 10/20/30
 
240
(e)(l)
   
330
 
Newcastle Mortgage Securities Trust, Ser. 2006-1, Class M2, (1 month USD LIBOR + 0.37%), 2.88%, due 3/25/36
 
328
(e)
   
1,710
 
Residential Asset Mortgage Products, Inc., Ser. 2005-RZ4, Class M3, (1 month USD LIBOR + 0.52%), 3.03%, due 11/25/35
 
1,686
(e)
   
106
 
Securitized Asset Backed Receivables LLC Trust, Ser. 2004-DO1, Class M1, (1 month USD LIBOR + 0.98%), 3.49%, due 7/25/34
 
103
(e)
   
40
 
Structured Asset Securities Corp., Ser. 2006-AM1, Class A4, (1 month USD LIBOR + 0.16%), 2.67%, due 4/25/36
 
40
(e)
   
580
 
Trafigura Securitisation Finance PLC, Ser. 2017-1A, Class B, (1 month USD LIBOR + 1.70%), 4.21%, due 12/15/20
 
580
(e)(l)
   
250
 
TRESTLES CLO Ltd., Ser. 2017-1A, Class D, (3 month USD LIBOR + 6.68%), 9.45%, due 7/25/29
 
237
(e)(l)
 
 
Total Asset-Backed Securities (Cost $6,134)
 
6,556
 
 
Foreign Government Securities 17.0%
       
Argentine Republic Government International Bond
     
 
EUR
138
 
7.82%, due 12/31/33
 
143
 
 
EUR
780
 
2.26%, due 12/31/38
 
531
(o)
 
$
80
 
Belize Government International Bond, 4.94%, due 2/20/34
 
44
(i)
 
BRL
5,000
 
Brazil Letras do Tesouro Nacional, 7.16%, due 7/1/21
 
1,156
(b)
 
$
270
 
Brazil Minas SPE via State of Minas Gerais, 5.33%, due 2/15/28
 
274
(i)
   
40
 
Brazilian Government International Bond, 7.13%, due 1/20/37
 
47
 
       
Bundesrepublik Deutschland
     
 
EUR
270
 
0.25%, due 2/15/27
 
317
(i)
 
EUR
30
 
5.50%, due 1/4/31
 
56
(i)
 
$
200
 
Costa Rica Government International Bond, 7.16%, due 3/12/45
 
181
(i)
       
Croatia Government International Bond
     
 
EUR
120
 
3.00%, due 3/20/27
 
148
(i)
 
EUR
100
 
2.75%, due 1/27/30
 
118
(i)
 
$
200
 
Development Bank of Mongolia LLC, 7.25%, due 10/23/23
 
200
(l)
   
100
 
Dominican Republic International Bond, 6.85%, due 1/27/45
 
103
(i)
       
Egypt Government International Bond
     
 
EUR
100
 
4.75%, due 4/16/26
 
107
(i)
 
$
200
 
7.90%, due 2/21/48
 
184
(i)
   
70
 
El Salvador Government International Bond, 7.75%, due 1/24/23
 
74
(i)
   
200
 
Ghana Government International Bond, 10.75%, due 10/14/30
 
235
(i)
       
Indonesia Government International Bond
     
 
EUR
150
 
3.75%, due 6/14/28
 
194
(i)
 
$
200
 
5.13%, due 1/15/45
 
207
(i)
       
Ivory Coast Government International Bond
     
   
271
 
5.75%, due 12/31/32
 
250
(i)
   
190
 
5.75%, due 12/31/32
 
175
(i)
 
JPY
274,871
 
Japanese Government CPI Linked Bond, 0.10%, due 3/10/27
 
2,610
(d)
       
Lebanon Government International Bond
     
 
$
14
 
6.85%, due 3/23/27
 
12
(i)
   
44
 
6.65%, due 2/26/30
 
35
(i)
 
MXN
19,200
 
Mexican Bonos, 10.00%, due 12/5/24
 
1,083
 
 
$
220
 
Mexico Government International Bond, 5.75%, due 10/12/10
 
216
 
 
EUR
100
 
Montenegro Government International Bond, 3.38%, due 4/21/25
 
115
(i)
       
Nigeria Government International Bond
     
 
$
200
 
7.14%, due 2/23/30
 
192
(i)
   
270
 
7.88%, due 2/16/32
 
268
(i)
   
200
 
Oman Government International Bond, 6.75%, due 1/17/48
 
170
(i)
 
EUR
150
 
Peruvian Government International Bond, 3.75%, due 3/1/30
 
204
 
 
$
200
 
Republic of Azerbaijan International Bond, 4.75%, due 3/18/24
 
203
(i)
 
ZAR
16,635
 
Republic of South Africa Government Bond, 9.00%, due 1/31/40
 
1,186
 
 
$
200
 
Republic of South Africa Government International Bond, 4.85%, due 9/27/27
 
194
 
 
EUR
60
 
Romanian Government International Bond, 3.88%, due 10/29/35
 
67
(i)
 
RUB
73,700
 
Russian Federal Bond - OFZ, 7.70%, due 3/23/33
 
1,094
 
       
Russian Foreign Bond - Eurobond
     
 
$
200
 
4.25%, due 6/23/27
 
196
(i)
   
87
 
7.50%, due 3/31/30
 
96
(i)
       
Sri Lanka Government International Bond
     
   
200
 
5.88%, due 7/25/22
 
197
(i)
   
200
 
6.85%, due 11/3/25
 
198
(i)
       
Turkey Government International Bond
     
   
200
 
5.63%, due 3/30/21
 
202
 
   
200
 
4.88%, due 10/9/26
 
181
 
   
200
 
6.13%, due 10/24/28
 
192
 
       
Ukraine Government International Bond
     
   
200
 
7.75%, due 9/1/25
 
184
(i)
   
100
 
7.75%, due 9/1/26
 
91
(i)
   
100
 
7.75%, due 9/1/27
 
90
(i)
   
100
 
0.00%, due 5/31/40
 
61
(i)(p)
   
64
 
Venezuela Government International Bond, 8.25%, due 10/13/24
 
20
(i)(m)
 
 
Total Foreign Government Securities (Cost $14,762)
 
14,101
 
 
NUMBER OF
SHARES  
     
       
Exchange-Traded Funds 4.8%
     
   
114,167
 
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF   (Cost  $4,392)
 
3,970
 
 
Short-Term Investments 1.5%
 
Investment Companies 1.5%
   
1,265,417
 
State Street Institutional U.S. Government Money Market Fund Premier Class, 2.32%(q)  (Cost  $1,265)
 
1,265
(k)
       
 
Total Investments 99.6% (Cost $84,635)
82,770
 
       
 
Other Assets Less Liabilities 0.4%
369
(r)
       
 
Net Assets 100.0%
$83,139
 
 
(a)
 
Principal amount is stated in the currency in which the security is denominated.
(b)
 
Rate shown was the discount rate at the date of purchase.
(c)
 
All or a portion of the security is pledged as collateral for futures.
(d)
 
Index-linked bond whose principal amount adjusts according to a government retail price index.
(e)
 
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2019 and changes periodically.
(f)
 
Interest only security. These securities represent the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding.
(g)
 
Variable or floating rate security where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of January 31, 2019.
(h)
 
TBA (To Be Announced) Securities are purchased/sold on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total value of all such securities (excluding forward sales contracts, if any) at January 31, 2019, amounted to approximately $1,627,000, which represents 2.0% of net assets of the Fund.
(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 directed selling efforts in the United States and as such may have restrictions on resale. Total value of all such securities at January 31, 2019, amounted to approximately $31,634,000, which represents 38.1% of net assets of the Fund.
(j)
 
Perpetual Bond Security. The rate reflected was the rate in effect on January 31, 2019. The maturity date reflects the next call date.
(k)
 
All or a portion of this security is segregated in connection with obligations for to be announced securities, futures, forward foreign currency contracts and/or swaps with a total value of approximately $8,514,000.
(l)
 
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $4,428,000, which represents 5.3% of net assets of the Fund. These securities have been deemed by the investment manager to be liquid.
(m)
 
Defaulted security.
(n)
 
Payment-in-kind (PIK) security.
(o)
 
Step Bond. Coupon 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 was the current rate as of January 31, 2019.
(p)
 
Currently a zero coupon security; will convert to variable in 2021 where it will be linked to the IMF Ukraine GDP Index.
(q)
 
Rate represents 7-day effective yield as of January 31, 2019.
(r)
 
Includes the impact of the Fund's open positions in derivatives at January 31, 2019.
 
 
See Notes to Schedule of Investments

Schedule of Investments Unconstrained Bond Fund^
(Unaudited) (cont’d)
 
 
Derivative Instruments

Futures contracts ("futures")
 
 
 
At January 31, 2019, open positions in futures for the Fund were as follows:
 
Long Futures:
 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
 
3/2019
 
68
Euro-Bund
$
12,894,555
$
236,795
 
3/2019
 
145
Pound Sterling, 90 Day
 
23,561,159
 
26,147
 
3/2019
 
23
U.S. Treasury Ultra Long Bond
 
3,705,875
 
175,734
 
3/2019
 
319
U.S. Treasury Note, 2 Year
 
67,732,672
 
448,549
 
3/2019
 
197
U.S. Treasury Note, 5 Year
 
22,627,297
 
361,687
 
Total Long Positions
$
130,521,558
$
1,248,912
 
Short Futures:
                 
Expiration Date
 
Number of
Contracts
 
Notional
Amount
 
Value and
Unrealized Appreciation/ (Depreciation)
 
3/2019
 
77
Euro-Bobl
$
(11,715,675)
$
(63,458)
 
3/2019
 
104
Euro-Bund
 
(19,721,084)
 
(340,521)
 
3/2019
 
7
Euro-Buxl Bond, 30 Year
 
(1,489,147)
 
(70,027)
 
3/2019
 
25
Euro-OAT
 
(4,375,804)
 
(58,706)
 
3/2019
 
21
Mini JGB, 10 Year
 
(2,945,109)
 
(17,160)
 
3/2019
 
25
U.S. Treasury Long Bond
 
(3,667,188)
 
(181,230)
 
3/2019
 
286
U.S. Treasury Note, 10 Year
 
(35,026,063)
 
(958,547)
 
3/2019
 
41
U.S. Treasury Ultra Long Bond
 
(6,606,125)
 
(362,582)
 
3/2019
 
197
U.S. Treasury Note, Ultra 10 Year
 
(25,745,438)
 
(929,803)
 
3/2019
 
33
United Kingdom Long Gilt Bond
 
(5,346,721)
 
(53,673)
 
3/2020
 
145
Pound Sterling, 90 Day
 
(23,524,311)
 
(51,114)
 
Total Short Positions
$
(140,162,665)
$
(3,086,821)
 
Total Futures
$
(1,837,909)
 

At January 31, 2019, the Fund had $1,594,114 deposited in a segregated account to cover margin requirements on open futures.

The Fund had securities pledged in the amount of $1,437,448 to cover collateral requirements on open futures.
 
Forward foreign currency contracts ("forward contracts")
 
 
At January 31, 2019, open forward contracts for the Fund were as follows:

Currency Purchased
   
Currency Sold
  
Counterparty
 
Settlement
Date
     
Net
Unrealized
Appreciation/
(Depreciation)
             
3,434,916
 
AUD
 
2,461,873
 
USD
 
CITI
 
4/16/2019
   
$
37,462
9,649,512
 
AUD
 
6,925,744
 
USD
 
GSI
 
4/16/2019
     
95,494
8,485,338
 
AUD
 
6,090,182
 
USD
 
GSI
 
4/16/2019
     
83,973
2,444,098
 
AUD
 
1,757,820
 
USD
 
GSI
 
4/16/2019
     
20,570
671,057
 
AUD
 
476,984
 
USD
 
GSI
 
4/16/2019
     
11,295
332,640
 
AUD
 
237,510
 
USD
 
GSI
 
4/16/2019
     
4,527
656,332
 
AUD
 
474,527
 
USD
 
GSI
 
4/16/2019
     
3,037
173,782
 
AUD
 
124,986
 
USD
 
GSI
 
4/16/2019
     
1,463
145,544
 
AUD
 
104,461
 
USD
 
GSI
 
4/16/2019
     
1,440
47,114
 
AUD
 
33,815
 
USD
 
GSI
 
4/16/2019
     
466
136,580
 
AUD
 
97,922
 
USD
 
RBC
 
4/16/2019
     
1,456
797,251
 
AUD
 
571,641
 
USD
 
SG
 
4/16/2019
     
8,460
3,068,999
 
AUD
 
2,199,490
 
USD
 
SSB
 
4/16/2019
     
33,594
300,689
 
AUD
 
214,684
 
USD
 
SSB
 
4/16/2019
     
4,105
274,138
 
AUD
 
196,484
 
USD
 
SSB
 
4/16/2019
     
2,986
162,265
 
AUD
 
116,292
 
USD
 
SSB
 
4/16/2019
     
1,776
996,497
 
BRL
 
266,800
 
USD
 
GSI
 
4/16/2019
     
5,097
1,149,775
 
BRL
 
308,722
 
USD
 
GSI
 
4/16/2019
     
4,996
800,160
 
BRL
 
214,848
 
USD
 
GSI
 
4/16/2019
     
3,477
1,327,182
 
BRL
 
354,961
 
USD
 
SSB
 
4/16/2019
     
7,163
5,774,951
 
CAD
 
4,369,137
 
USD
 
CITI
 
4/16/2019
     
33,727
5,206,345
 
CAD
 
3,938,949
 
USD
 
CITI
 
4/16/2019
     
30,406
1,885,704
 
CAD
 
1,424,893
 
USD
 
CITI
 
4/16/2019
     
12,781
4,942,167
 
CAD
 
3,740,832
 
USD
 
GSI
 
4/16/2019
     
27,111
201,299
 
CAD
 
151,929
 
USD
 
GSI
 
4/16/2019
     
1,543
189,169
 
CAD
 
142,949
 
USD
 
GSI
 
4/16/2019
     
1,275
1,228,812
 
CAD
 
930,256
 
USD
 
JPM
 
4/16/2019
     
6,599
846,175
 
CAD
 
640,551
 
USD
 
RBC
 
4/16/2019
     
4,579
12,502
 
CAD
 
9,464
 
USD
 
RBC
 
4/16/2019
     
68
17,255,286
 
CAD
 
13,064,269
 
USD
 
SG
 
4/16/2019
     
91,286
544,980
 
CAD
 
412,604
 
USD
 
SCB
 
4/16/2019
     
2,892
1,718,612
 
CAD
 
1,300,727
 
USD
 
SSB
 
4/16/2019
     
9,555
711,821
 
CAD
 
536,737
 
USD
 
SSB
 
4/16/2019
     
5,961
721,571
 
CAD
 
547,066
 
USD
 
SSB
 
4/16/2019
     
3,065
656,780
 
CHF
 
663,588
 
USD
 
GSI
 
4/16/2019
     
1,437
308,094
 
CHF
 
311,939
 
USD
 
GSI
 
4/16/2019
     
23
964,627
 
USD
 
936,769
 
CHF
 
CITI
 
4/16/2019
     
16,098
975,448
 
USD
 
948,070
 
CHF
 
GSI
 
4/16/2019
     
15,475
984,622
 
USD
 
969,065
 
CHF
 
GSI
 
4/16/2019
     
3,391
646,843
 
USD
 
638,430
 
CHF
 
GSI
 
4/16/2019
     
398
1,126,745
 
USD
 
1,095,129
 
CHF
 
JPM
 
4/16/2019
     
17,868
328,946
 
USD
 
319,716
 
CHF
 
JPM
 
4/16/2019
     
5,216
3,764,770
 
USD
 
3,657,301
 
CHF
 
RBC
 
4/16/2019
     
61,554
296,139
 
USD
 
287,685
 
CHF
 
RBC
 
4/16/2019
     
4,842
8,556,809
 
USD
 
8,312,255
 
CHF
 
SG
 
4/16/2019
     
140,198
1,607,574
 
USD
 
1,561,887
 
CHF
 
SCB
 
4/16/2019
     
26,079
1,247,274
 
USD
 
1,211,826
 
CHF
 
SSB
 
4/16/2019
     
20,234
369,249
 
USD
 
358,975
 
CHF
 
SSB
 
4/16/2019
     
5,767
272,137
 
USD
 
268,373
 
CHF
 
SSB
 
4/16/2019
     
395
46,087
 
USD
 
1,027,186
 
CZK
 
SSB
 
4/16/2019
     
344
620,997
 
EUR
 
714,873
 
USD
 
CITI
 
4/16/2019
     
300
814,374
 
EUR
 
934,572
 
USD
 
GSI
 
4/16/2019
     
3,305
85,240
 
EUR
 
97,923
 
USD
 
GSI
 
4/16/2019
     
244
62,513
 
EUR
 
71,332
 
USD
 
RBC
 
4/16/2019
     
661
537,189
 
EUR
 
617,074
 
USD
 
SSB
 
4/16/2019
     
1,582
2,499,464
 
USD
 
2,163,626
 
EUR
 
CITI
 
4/16/2019
     
7,716
4,100,005
 
USD
 
3,551,202
 
EUR
 
GSI
 
4/16/2019
     
10,249
2,650,551
 
USD
 
2,295,764
 
EUR
 
GSI
 
4/16/2019
     
6,626
1,420,658
 
USD
 
1,230,497
 
EUR
 
GSI
 
4/16/2019
     
3,551
987,132
 
USD
 
855,000
 
EUR
 
GSI
 
4/16/2019
     
2,468
864,909
 
USD
 
749,137
 
EUR
 
GSI
 
4/16/2019
     
2,162
75,435
 
USD
 
65,281
 
EUR
 
GSI
 
4/16/2019
     
254
333,495
 
USD
 
289,573
 
EUR
 
GSI
 
4/16/2019
     
7
112,350
 
USD
 
97,185
 
EUR
 
JPM
 
4/16/2019
     
426
7,076,038
 
USD
 
6,122,215
 
EUR
 
RBC
 
4/16/2019
     
25,365
2,735,496
 
USD
 
2,366,762
 
EUR
 
RBC
 
4/16/2019
     
9,806
124,823
 
USD
 
107,997
 
EUR
 
RBC
 
4/16/2019
     
447
2,866,032
 
USD
 
2,478,623
 
EUR
 
SG
 
4/16/2019
     
11,516
527,753
 
USD
 
456,415
 
EUR
 
SG
 
4/16/2019
     
2,121
138,710
 
USD
 
119,965
 
EUR
 
SCB
 
4/16/2019
     
551
14,108,729
 
USD
 
12,212,336
 
EUR
 
SSB
 
4/16/2019
     
44,345
12,886,439
 
USD
 
11,154,338
 
EUR
 
SSB
 
4/16/2019
     
40,503
896,188
 
USD
 
771,009
 
EUR
 
SSB
 
4/16/2019
     
8,253
988,106
 
USD
 
854,440
 
EUR
 
SSB
 
4/16/2019
     
4,087
336,496
 
USD
 
291,493
 
EUR
 
SSB
 
4/16/2019
     
797
43,340
 
USD
 
37,286
 
EUR
 
SSB
 
4/16/2019
     
399
1,189,270
 
GBP
 
1,524,395
 
USD
 
CITI
 
4/16/2019
     
41,165
200,649
 
GBP
 
256,399
 
USD
 
CITI
 
4/16/2019
     
7,736
47,030
 
GBP
 
60,283
 
USD
 
CITI
 
4/16/2019
     
1,628
44,452
 
GBP
 
56,978
 
USD
 
CITI
 
4/16/2019
     
1,539
4,282,827
 
GBP
 
5,483,085
 
USD
 
GSI
 
4/16/2019
     
154,845
293,911
 
GBP
 
379,395
 
USD
 
GSI
 
4/16/2019
     
7,511
126,104
 
GBP
 
165,097
 
USD
 
GSI
 
4/16/2019
     
907
19,277
 
GBP
 
24,745
 
USD
 
GSI
 
4/16/2019
     
631
4,278,015
 
GBP
 
5,485,741
 
USD
 
JPM
 
4/16/2019
     
145,854
111,214
 
GBP
 
142,611
 
USD
 
JPM
 
4/16/2019
     
3,792
49,445
 
GBP
 
63,404
 
USD
 
JPM
 
4/16/2019
     
1,686
18,582
 
GBP
 
23,828
 
USD
 
JPM
 
4/16/2019
     
634
1,335,414
 
GBP
 
1,713,020
 
USD
 
RBC
 
4/16/2019
     
44,925
1,168,922
 
GBP
 
1,499,450
 
USD
 
RBC
 
4/16/2019
     
39,324
1,045,587
 
GBP
 
1,341,240
 
USD
 
RBC
 
4/16/2019
     
35,174
103,833
 
GBP
 
133,193
 
USD
 
RBC
 
4/16/2019
     
3,493
49,175
 
GBP
 
63,107
 
USD
 
SG
 
4/16/2019
     
1,627
57,894
 
GBP
 
74,284
 
USD
 
SCB
 
4/16/2019
     
1,928
473,169
 
GBP
 
605,388
 
USD
 
SSB
 
4/16/2019
     
17,494
502,726
 
GBP
 
649,185
 
USD
 
SSB
 
4/16/2019
     
12,605
245,910
 
GBP
 
315,439
 
USD
 
SSB
 
4/16/2019
     
8,278
217,688
 
GBP
 
278,935
 
USD
 
SSB
 
4/16/2019
     
7,630
78,845
 
GBP
 
101,138
 
USD
 
SSB
 
4/16/2019
     
2,654
147,963
 
USD
 
111,924
 
GBP
 
GSI
 
4/16/2019
     
626
100,266,828
 
JPY
 
919,735
 
USD
 
GSI
 
4/16/2019
     
6,208
68,490,267
 
JPY
 
630,015
 
USD
 
GSI
 
4/16/2019
     
2,478
70,650,400
 
JPY
 
651,366
 
USD
 
GSI
 
4/16/2019
     
1,075
32,927,809
 
JPY
 
301,827
 
USD
 
RBC
 
4/16/2019
     
2,254
65,164,910
 
JPY
 
599,631
 
USD
 
SSB
 
4/16/2019
     
2,154
325,632
 
USD
 
34,969,606
 
JPY
 
CITI
 
4/16/2019
     
2,695
855,002
 
USD
 
92,370,260
 
JPY
 
CITI
 
4/16/2019
     
1,981
1,157,364
 
USD
 
125,137,630
 
JPY
 
CITI
 
4/16/2019
     
1,744
72,383
 
USD
 
7,826,313
 
JPY
 
CITI
 
4/16/2019
     
109
61,312
 
USD
 
6,629,223
 
JPY
 
CITI
 
4/16/2019
     
92
349,163
 
USD
 
37,727,990
 
JPY
 
GSI
 
4/16/2019
     
753
1,494,484
 
USD
 
161,508,908
 
JPY
 
JPM
 
4/16/2019
     
2,983
626,012
 
USD
 
67,653,119
 
JPY
 
JPM
 
4/16/2019
     
1,250
237,410
 
USD
 
25,651,052
 
JPY
 
JPM
 
4/16/2019
     
528
2,650,694
 
USD
 
286,363,438
 
JPY
 
RBC
 
4/16/2019
     
6,187
1,964,991
 
USD
 
212,284,687
 
JPY
 
RBC
 
4/16/2019
     
4,586
2,551,534
 
USD
 
275,597,827
 
JPY
 
SG
 
4/16/2019
     
6,446
519,416
 
USD
 
56,119,171
 
JPY
 
SCB
 
4/16/2019
     
1,167
3,763,309
 
USD
 
406,678,193
 
JPY
 
SSB
 
4/16/2019
     
7,720
828,271
 
USD
 
88,869,164
 
JPY
 
SSB
 
4/16/2019
     
7,583
1,777,164
 
USD
 
192,047,414
 
JPY
 
SSB
 
4/16/2019
     
3,646
72,128,152
 
KRW
 
64,499
 
USD
 
GSI
 
4/16/2019
     
476
14,998,911
 
MXN
 
764,974
 
USD
 
GSI
 
4/16/2019
     
11,067
17,332,764
 
MXN
 
884,214
 
USD
 
RBC
 
4/16/2019
     
12,580
15,523,927
 
MXN
 
791,938
 
USD
 
RBC
 
4/16/2019
     
11,267
1,300,921
 
MXN
 
66,365
 
USD
 
RBC
 
4/16/2019
     
944
7,686,764
 
MXN
 
391,788
 
USD
 
SSB
 
4/16/2019
     
5,924
32,436,835
 
NOK
 
3,820,683
 
USD
 
CITI
 
4/16/2019
     
37,443
6,848,208
 
NOK
 
806,640
 
USD
 
CITI
 
4/16/2019
     
7,905
7,283,294
 
NOK
 
850,877
 
USD
 
GSI
 
4/16/2019
     
15,418
3,859,033
 
NOK
 
453,648
 
USD
 
GSI
 
4/16/2019
     
5,356
4,560,758
 
NOK
 
537,251
 
USD
 
GSI
 
4/16/2019
     
5,218
5,999,358
 
NOK
 
710,118
 
USD
 
GSI
 
4/16/2019
     
3,462
1,716,657
 
NOK
 
202,126
 
USD
 
GSI
 
4/16/2019
     
2,058
728,634
 
NOK
 
85,410
 
USD
 
GSI
 
4/16/2019
     
1,256
688,524
 
NOK
 
81,070
 
USD
 
GSI
 
4/16/2019
     
825
5,610,890
 
NOK
 
661,771
 
USD
 
JPM
 
4/16/2019
     
5,604
16,091,527
 
NOK
 
1,898,022
 
USD
 
RBC
 
4/16/2019
     
15,948
4,780,164
 
NOK
 
560,558
 
USD
 
RBC
 
4/16/2019
     
8,008
27,419,673
 
NOK
 
3,234,682
 
USD
 
SG
 
4/16/2019
     
26,689
19,015,153
 
NOK
 
2,239,684
 
USD
 
SSB
 
4/16/2019
     
22,031
9,927,024
 
NOK
 
1,178,127
 
USD
 
SSB
 
4/16/2019
     
2,620
713,266
 
NOK
 
83,637
 
USD
 
SSB
 
4/16/2019
     
1,201
663,497
 
NOK
 
78,058
 
USD
 
SSB
 
4/16/2019
     
860
431,483
 
USD
 
3,616,639
 
NOK
 
JPM
 
4/16/2019
     
1,310
3,571,174
 
NZD
 
2,417,256
 
USD
 
CITI
 
4/16/2019
     
54,706
993,342
 
NZD
 
672,373
 
USD
 
CITI
 
4/16/2019
     
15,217
887,503
 
NZD
 
599,504
 
USD
 
CITI
 
4/16/2019
     
14,825
189,201
 
NZD
 
128,066
 
USD
 
CITI
 
4/16/2019
     
2,898
10,826,017
 
NZD
 
7,350,324
 
USD
 
GSI
 
4/16/2019
     
143,432
2,484,105
 
NZD
 
1,686,583
 
USD
 
GSI
 
4/16/2019
     
32,911
2,679,240
 
NZD
 
1,824,557
 
USD
 
GSI
 
4/16/2019
     
30,010
4,392,693
 
NZD
 
2,974,899
 
USD
 
RBC
 
4/16/2019
     
65,718
100,252
 
NZD
 
67,894
 
USD
 
RBC
 
4/16/2019
     
1,500
2,427,553
 
NZD
 
1,644,138
 
USD
 
SG
 
4/16/2019
     
36,211
656,855
 
NZD
 
445,159
 
USD
 
SSB
 
4/16/2019
     
9,516
426,500
 
NZD
 
287,690
 
USD
 
SSB
 
4/16/2019
     
7,532
189,802
 
NZD
 
127,911
 
USD
 
SSB
 
4/16/2019
     
3,470
99,165
 
NZD
 
67,162
 
USD
 
SSB
 
4/16/2019
     
1,479
7,495,578
 
RUB
 
110,325
 
USD
 
GSI
 
4/16/2019
     
2,851
6,929,099
 
RUB
 
101,987
 
USD
 
GSI
 
4/16/2019
     
2,636
5,962,134
 
SEK
 
661,313
 
USD
 
RBC
 
4/16/2019
     
1,375
3,784,795
 
USD
 
33,522,687
 
SEK
 
CITI
 
4/16/2019
     
58,765
2,914,865
 
USD
 
25,817,543
 
SEK
 
CITI
 
4/16/2019
     
45,258
4,791,954
 
USD
 
42,514,691
 
SEK
 
GSI
 
4/16/2019
     
66,466
3,924,381
 
USD
 
34,817,505
 
SEK
 
GSI
 
4/16/2019
     
54,433
285,890
 
USD
 
2,547,019
 
SEK
 
GSI
 
4/16/2019
     
2,790
170,479
 
USD
 
1,514,445
 
SEK
 
GSI
 
4/16/2019
     
2,149
53,280
 
USD
 
472,703
 
SEK
 
GSI
 
4/16/2019
     
739
663,839
 
USD
 
5,868,865
 
SEK
 
JPM
 
4/16/2019
     
11,517
116,187
 
USD
 
1,027,184
 
SEK
 
JPM
 
4/16/2019
     
2,016
274,950
 
USD
 
2,467,552
 
SEK
 
JPM
 
4/16/2019
     
683
2,814,447
 
USD
 
24,853,945
 
SEK
 
SG
 
4/16/2019
     
51,943
1,778
 
USD
 
15,705
 
SEK
 
SG
 
4/16/2019
     
33
406,367
 
USD
 
3,587,242
 
SEK
 
SSB
 
4/16/2019
     
7,647
355,840
 
USD
 
3,187,725
 
SEK
 
SSB
 
4/16/2019
     
1,526
1,277,051
 
ZAR
 
90,277
 
USD
 
GSI
 
4/16/2019
     
5,211
554,070
 
ZAR
 
39,168
 
USD
 
GSI
 
4/16/2019
     
2,261
31,966,871
 
ZAR
 
2,265,531
 
USD
 
RBC
 
4/16/2019
     
124,676
1,233,345
 
ZAR
 
87,457
 
USD
 
SG
 
4/16/2019
     
4,762
     
Total unrealized appreciation
$
2,752,702
 
426,104
 
AUD
 
310,331
 
USD
 
JPM
 
4/16/2019
     
(287)
77,311
 
USD
 
107,868
 
AUD
 
CITI
 
4/16/2019
     
(1,176)
857,435
 
USD
 
1,190,303
 
AUD
 
CITI
 
4/16/2019
     
(8,661)
1,522,348
 
USD
 
2,124,048
 
AUD
 
CITI
 
4/16/2019
     
(23,165)
46,792
 
USD
 
65,195
 
AUD
 
GSI
 
4/16/2019
     
(645)
279,394
 
USD
 
389,389
 
AUD
 
GSI
 
4/16/2019
     
(3,935)
707,062
 
USD
 
985,981
 
AUD
 
GSI
 
4/16/2019
     
(10,364)
909,733
 
USD
 
1,267,797
 
AUD
 
GSI
 
4/16/2019
     
(12,749)
939,135
 
USD
 
1,309,775
 
AUD
 
JPM
 
4/16/2019
     
(13,892)
2,222,642
 
USD
 
3,099,832
 
AUD
 
JPM
 
4/16/2019
     
(32,878)
181,214
 
USD
 
252,754
 
AUD
 
RBC
 
4/16/2019
     
(2,696)
669,715
 
USD
 
941,551
 
AUD
 
RBC
 
4/16/2019
     
(15,382)
1,621,125
 
USD
 
2,261,112
 
AUD
 
RBC
 
4/16/2019
     
(24,120)
1,812,029
 
USD
 
2,527,381
 
AUD
 
RBC
 
4/16/2019
     
(26,960)
71,443
 
USD
 
99,640
 
AUD
 
SG
 
4/16/2019
     
(1,057)
115,655
 
USD
 
161,277
 
AUD
 
SCB
 
4/16/2019
     
(1,694)
1,266,361
 
USD
 
1,765,898
 
AUD
 
SCB
 
4/16/2019
     
(18,553)
97
 
USD
 
135
 
AUD
 
SSB
 
4/16/2019
     
(1)
648,657
 
USD
 
900,985
 
AUD
 
SSB
 
4/16/2019
     
(6,923)
1,292,566
 
USD
 
1,796,133
 
AUD
 
SSB
 
4/16/2019
     
(14,348)
5,070,956
 
USD
 
7,075,621
 
AUD
 
SSB
 
4/16/2019
     
(77,451)
1,260,995
 
USD
 
4,696,325
 
BRL
 
GSI
 
4/16/2019
     
(20,407)
57,513
 
USD
 
215,156
 
BRL
 
RBC
 
4/16/2019
     
(1,193)
312,164
 
USD
 
413,347
 
CAD
 
CITI
 
4/16/2019
     
(2,975)
977,270
 
USD
 
1,291,717
 
CAD
 
CITI
 
4/16/2019
     
(7,544)
311,465
 
USD
 
413,874
 
CAD
 
GSI
 
4/16/2019
     
(4,075)
474,566
 
USD
 
627,815
 
CAD
 
GSI
 
4/16/2019
     
(4,085)
698,728
 
USD
 
922,992
 
CAD
 
GSI
 
4/16/2019
     
(4,968)
4,165,147
 
USD
 
5,502,747
 
CAD
 
GSI
 
4/16/2019
     
(30,187)
379,278
 
USD
 
497,725
 
CAD
 
JPM
 
4/16/2019
     
(191)
3,316,428
 
USD
 
4,380,802
 
CAD
 
JPM
 
4/16/2019
     
(23,527)
298,591
 
USD
 
397,024
 
CAD
 
RBC
 
4/16/2019
     
(4,103)
638,722
 
USD
 
843,759
 
CAD
 
RBC
 
4/16/2019
     
(4,566)
10,514,434
 
USD
 
13,889,693
 
CAD
 
RBC
 
4/16/2019
     
(75,169)
34,583
 
USD
 
45,677
 
CAD
 
SG
 
4/16/2019
     
(242)
785,798
 
USD
 
1,037,905
 
CAD
 
SCB
 
4/16/2019
     
(5,509)
634,230
 
USD
 
839,467
 
CAD
 
SSB
 
4/16/2019
     
(5,786)
647,503
 
USD
 
858,368
 
CAD
 
SSB
 
4/16/2019
     
(6,923)
4,608,232
 
USD
 
6,088,719
 
CAD
 
SSB
 
4/16/2019
     
(33,851)
5,350,852
 
USD
 
7,069,920
 
CAD
 
SSB
 
4/16/2019
     
(39,306)
307,617
 
CHF
 
311,700
 
USD
 
CITI
 
4/16/2019
     
(221)
480,350
 
CHF
 
486,688
 
USD
 
CITI
 
4/16/2019
     
(308)
1,633,246
 
CHF
 
1,681,817
 
USD
 
CITI
 
4/16/2019
     
(28,066)
790,608
 
CHF
 
800,614
 
USD
 
GSI
 
4/16/2019
     
(80)
225,082
 
CHF
 
228,670
 
USD
 
GSI
 
4/16/2019
     
(762)
104,125
 
CHF
 
106,310
 
USD
 
GSI
 
4/16/2019
     
(878)
687,299
 
CHF
 
698,691
 
USD
 
GSI
 
4/16/2019
     
(2,764)
197,226
 
CHF
 
202,665
 
USD
 
GSI
 
4/16/2019
     
(2,962)
447,671
 
CHF
 
459,681
 
USD
 
GSI
 
4/16/2019
     
(6,389)
2,195,464
 
CHF
 
2,258,864
 
USD
 
GSI
 
4/16/2019
     
(35,837)
553,487
 
CHF
 
561,216
 
USD
 
JPM
 
4/16/2019
     
(780)
1,069,649
 
CHF
 
1,100,938
 
USD
 
SCB
 
4/16/2019
     
(17,860)
9,210,754
 
CHF
 
9,480,181
 
USD
 
SSB
 
4/16/2019
     
(153,791)
750,179
 
USD
 
742,434
 
CHF
 
GSI
 
4/16/2019
     
(1,576)
812,395
 
USD
 
803,328
 
CHF
 
RBC
 
4/16/2019
     
(1,018)
307,761
 
USD
 
304,537
 
CHF
 
SSB
 
4/16/2019
     
(599)
1,007,217
 
CZK
 
45,103
 
USD
 
GSI
 
4/16/2019
     
(250)
16,755
 
EUR
 
19,356
 
USD
 
CITI
 
4/16/2019
     
(60)
22,792
 
EUR
 
26,330
 
USD
 
CITI
 
4/16/2019
     
(81)
434,048
 
EUR
 
501,421
 
USD
 
CITI
 
4/16/2019
     
(1,548)
654,577
 
EUR
 
755,428
 
USD
 
CITI
 
4/16/2019
     
(1,582)
1,882,122
 
EUR
 
2,174,265
 
USD
 
CITI
 
4/16/2019
     
(6,712)
2,542,031
 
EUR
 
2,936,605
 
USD
 
CITI
 
4/16/2019
     
(9,065)
530,097
 
EUR
 
610,869
 
USD
 
GSI
 
4/16/2019
     
(381)
44,745
 
EUR
 
52,027
 
USD
 
GSI
 
4/16/2019
     
(497)
638,553
 
EUR
 
737,235
 
USD
 
GSI
 
4/16/2019
     
(1,843)
599,448
 
EUR
 
696,468
 
USD
 
GSI
 
4/16/2019
     
(6,111)
3,070,336
 
EUR
 
3,544,826
 
USD
 
GSI
 
4/16/2019
     
(8,862)
1,370,054
 
EUR
 
1,593,037
 
USD
 
GSI
 
4/16/2019
     
(15,209)
16,594
 
EUR
 
19,183
 
USD
 
JPM
 
4/16/2019
     
(73)
238,359
 
EUR
 
275,553
 
USD
 
JPM
 
4/16/2019
     
(1,045)
1,606,574
 
EUR
 
1,857,264
 
USD
 
JPM
 
4/16/2019
     
(7,047)
8,197,367
 
EUR
 
9,476,484
 
USD
 
JPM
 
4/16/2019
     
(35,955)
6,147
 
EUR
 
7,105
 
USD
 
RBC
 
4/16/2019
     
(25)
63,805
 
EUR
 
73,746
 
USD
 
RBC
 
4/16/2019
     
(264)
267,690
 
EUR
 
309,395
 
USD
 
RBC
 
4/16/2019
     
(1,109)
477,365
 
EUR
 
551,737
 
USD
 
RBC
 
4/16/2019
     
(1,978)
1,698,618
 
EUR
 
1,963,258
 
USD
 
RBC
 
4/16/2019
     
(7,038)
77,624
 
EUR
 
89,757
 
USD
 
SG
 
4/16/2019
     
(361)
426,929
 
EUR
 
493,658
 
USD
 
SG
 
4/16/2019
     
(1,984)
260,155
 
EUR
 
300,804
 
USD
 
SCB
 
4/16/2019
     
(1,196)
370,801
 
EUR
 
428,739
 
USD
 
SCB
 
4/16/2019
     
(1,704)
1,188,972
 
EUR
 
1,374,749
 
USD
 
SCB
 
4/16/2019
     
(5,465)
67,677
 
EUR
 
78,186
 
USD
 
SSB
 
4/16/2019
     
(246)
698,577
 
EUR
 
807,055
 
USD
 
SSB
 
4/16/2019
     
(2,537)
746,018
 
EUR
 
861,863
 
USD
 
SSB
 
4/16/2019
     
(2,709)
1,257,007
 
EUR
 
1,452,201
 
USD
 
SSB
 
4/16/2019
     
(4,564)
635,514
 
USD
 
554,241
 
EUR
 
CITI
 
4/16/2019
     
(2,780)
475,309
 
USD
 
415,582
 
EUR
 
CITI
 
4/16/2019
     
(3,298)
31,908
 
USD
 
27,876
 
EUR
 
GSI
 
4/16/2019
     
(195)
72,634
 
USD
 
63,455
 
EUR
 
GSI
 
4/16/2019
     
(444)
476,171
 
USD
 
416,434
 
EUR
 
GSI
 
4/16/2019
     
(3,416)
776,185
 
USD
 
678,762
 
EUR
 
GSI
 
4/16/2019
     
(5,514)
97,713
 
USD
 
85,632
 
EUR
 
RBC
 
4/16/2019
     
(906)
193,991
 
USD
 
168,877
 
EUR
 
SSB
 
4/16/2019
     
(497)
184,470
 
USD
 
161,041
 
EUR
 
SSB
 
4/16/2019
     
(994)
470,514
 
GBP
 
619,741
 
USD
 
JPM
 
4/16/2019
     
(355)
21,755
 
USD
 
16,972
 
GBP
 
CITI
 
4/16/2019
     
(587)
428,419
 
USD
 
334,235
 
GBP
 
CITI
 
4/16/2019
     
(11,569)
2,245,024
 
USD
 
1,751,476
 
GBP
 
CITI
 
4/16/2019
     
(60,625)
56,749
 
USD
 
43,920
 
GBP
 
GSI
 
4/16/2019
     
(1,067)
166,546
 
USD
 
130,089
 
GBP
 
GSI
 
4/16/2019
     
(4,703)
250,982
 
USD
 
194,242
 
GBP
 
GSI
 
4/16/2019
     
(4,719)
176,148
 
USD
 
137,589
 
GBP
 
GSI
 
4/16/2019
     
(4,975)
644,666
 
USD
 
495,223
 
GBP
 
GSI
 
4/16/2019
     
(7,247)
479,739
 
USD
 
370,919
 
GBP
 
GSI
 
4/16/2019
     
(8,540)
671,146
 
USD
 
521,777
 
GBP
 
GSI
 
4/16/2019
     
(15,723)
1,612,675
 
USD
 
1,259,657
 
GBP
 
GSI
 
4/16/2019
     
(45,543)
1,884,529
 
USD
 
1,472,002
 
GBP
 
GSI
 
4/16/2019
     
(53,220)
2,405,711
 
USD
 
1,879,096
 
GBP
 
GSI
 
4/16/2019
     
(67,939)
365,978
 
USD
 
278,761
 
GBP
 
RBC
 
4/16/2019
     
(985)
1,143,944
 
USD
 
891,781
 
GBP
 
RBC
 
4/16/2019
     
(30,000)
3,848,153
 
USD
 
2,999,894
 
GBP
 
RBC
 
4/16/2019
     
(100,919)
525,817
 
USD
 
409,733
 
GBP
 
SG
 
4/16/2019
     
(13,558)
715,795
 
USD
 
557,770
 
GBP
 
SG
 
4/16/2019
     
(18,456)
69,100
 
USD
 
53,854
 
GBP
 
SCB
 
4/16/2019
     
(1,793)
974,385
 
USD
 
759,396
 
GBP
 
SCB
 
4/16/2019
     
(25,287)
1,101,415
 
USD
 
858,398
 
GBP
 
SCB
 
4/16/2019
     
(28,584)
37,212
 
USD
 
29,085
 
GBP
 
SSB
 
4/16/2019
     
(1,075)
108,799
 
USD
 
84,170
 
GBP
 
SSB
 
4/16/2019
     
(2,003)
123,558
 
USD
 
95,640
 
GBP
 
SSB
 
4/16/2019
     
(2,343)
786,718
 
USD
 
605,230
 
GBP
 
SSB
 
4/16/2019
     
(10,009)
499,372
 
USD
 
389,301
 
GBP
 
SSB
 
4/16/2019
     
(13,105)
689,896
 
USD
 
537,830
 
GBP
 
SSB
 
4/16/2019
     
(18,105)
947,243
 
USD
 
738,453
 
GBP
 
SSB
 
4/16/2019
     
(24,859)
4,532,922
 
USD
 
3,533,781
 
GBP
 
SSB
 
4/16/2019
     
(118,961)
111,723,723
 
JPY
 
1,036,192
 
USD
 
CITI
 
4/16/2019
     
(4,446)
4,169,417
 
JPY
 
38,587
 
USD
 
GSI
 
4/16/2019
     
(83)
5,829,413
 
JPY
 
54,253
 
USD
 
GSI
 
4/16/2019
     
(420)
24,225,966
 
JPY
 
224,691
 
USD
 
GSI
 
4/16/2019
     
(969)
71,214,644
 
JPY
 
659,074
 
USD
 
GSI
 
4/16/2019
     
(1,421)
110,362,059
 
JPY
 
1,021,555
 
USD
 
RBC
 
4/16/2019
     
(2,384)
657,619,922
 
JPY
 
6,087,191
 
USD
 
RBC
 
4/16/2019
     
(14,208)
76,098,071
 
JPY
 
704,530
 
USD
 
SG
 
4/16/2019
     
(1,780)
325,786,775
 
JPY
 
3,015,346
 
USD
 
SCB
 
4/16/2019
     
(6,774)
6,834,505
 
JPY
 
63,245
 
USD
 
SSB
 
4/16/2019
     
(130)
245,736,291
 
JPY
 
2,273,988
 
USD
 
SSB
 
4/16/2019
     
(4,665)
797,049
 
USD
 
86,840,933
 
JPY
 
GSI
 
4/16/2019
     
(4,909)
405,345
 
USD
 
44,139,999
 
JPY
 
SSB
 
4/16/2019
     
(2,279)
64,661
 
USD
 
72,309,921
 
KRW
 
GSI
 
4/16/2019
     
(477)
354,104
 
USD
 
395,990,569
 
KRW
 
GSI
 
4/16/2019
     
(2,614)
677,904
 
USD
 
13,170,178
 
MXN
 
CITI
 
4/16/2019
     
(3,519)
764,393
 
USD
 
14,998,911
 
MXN
 
CITI
 
4/16/2019
     
(11,648)
83,920
 
USD
 
1,636,277
 
MXN
 
GSI
 
4/16/2019
     
(741)
206,327
 
USD
 
4,045,461
 
MXN
 
GSI
 
4/16/2019
     
(2,985)
969,541
 
USD
 
19,009,865
 
MXN
 
GSI
 
4/16/2019
     
(14,026)
76,144
 
USD
 
1,493,940
 
MXN
 
SG
 
4/16/2019
     
(1,152)
205,733
 
USD
 
4,036,479
 
MXN
 
SG
 
4/16/2019
     
(3,114)
203,877
 
USD
 
4,000,000
 
MXN
 
SSB
 
4/16/2019
     
(3,083)
677,243
 
USD
 
13,287,303
 
MXN
 
SSB
 
4/16/2019
     
(10,240)
513,117
 
USD
 
4,324,035
 
NOK
 
GSI
 
4/16/2019
     
(1,196)
961,834
 
USD
 
8,194,834
 
NOK
 
GSI
 
4/16/2019
     
(12,882)
3,171,149
 
USD
 
26,886,903
 
NOK
 
JPM
 
4/16/2019
     
(26,853)
42,488
 
USD
 
360,213
 
NOK
 
RBC
 
4/16/2019
     
(357)
376,003
 
USD
 
3,188,154
 
NOK
 
SCB
 
4/16/2019
     
(3,205)
1,538,270
 
USD
 
13,043,086
 
NOK
 
SCB
 
4/16/2019
     
(13,110)
266,921
 
USD
 
2,268,243
 
NOK
 
SSB
 
4/16/2019
     
(2,870)
4,039,990
 
USD
 
34,299,940
 
NOK
 
SSB
 
4/16/2019
     
(39,740)
672,254
 
NZD
 
465,764
 
USD
 
JPM
 
4/16/2019
     
(430)
25,860
 
USD
 
38,088
 
NZD
 
GSI
 
4/16/2019
     
(505)
51,047
 
USD
 
75,185
 
NZD
 
GSI
 
4/16/2019
     
(996)
221,305
 
USD
 
322,633
 
NZD
 
GSI
 
4/16/2019
     
(2,021)
311,723
 
USD
 
455,902
 
NZD
 
GSI
 
4/16/2019
     
(3,852)
490,016
 
USD
 
716,168
 
NZD
 
GSI
 
4/16/2019
     
(5,714)
755,081
 
USD
 
1,105,188
 
NZD
 
GSI
 
4/16/2019
     
(9,929)
667,369
 
USD
 
982,316
 
NZD
 
GSI
 
4/16/2019
     
(12,589)
83,659
 
USD
 
123,487
 
NZD
 
JPM
 
4/16/2019
     
(1,819)
931,827
 
USD
 
1,375,451
 
NZD
 
JPM
 
4/16/2019
     
(20,259)
3,243,941
 
USD
 
4,788,317
 
NZD
 
JPM
 
4/16/2019
     
(70,526)
107,127
 
USD
 
158,182
 
NZD
 
RBC
 
4/16/2019
     
(2,367)
250,220
 
USD
 
369,054
 
NZD
 
RBC
 
4/16/2019
     
(5,238)
1,896,383
 
USD
 
2,800,172
 
NZD
 
RBC
 
4/16/2019
     
(41,893)
3,180,119
 
USD
 
4,695,719
 
NZD
 
RBC
 
4/16/2019
     
(70,252)
90,603
 
USD
 
133,774
 
NZD
 
SG
 
4/16/2019
     
(1,995)
5,139,215
 
USD
 
7,587,999
 
NZD
 
SG
 
4/16/2019
     
(113,189)
70,925
 
USD
 
104,673
 
NZD
 
SCB
 
4/16/2019
     
(1,530)
182,186
 
USD
 
268,875
 
NZD
 
SCB
 
4/16/2019
     
(3,929)
3,313,378
 
USD
 
4,889,982
 
NZD
 
SCB
 
4/16/2019
     
(71,461)
113,908
 
USD
 
168,185
 
NZD
 
SSB
 
4/16/2019
     
(2,509)
425,401
 
USD
 
625,874
 
NZD
 
SSB
 
4/16/2019
     
(7,828)
715,663
 
USD
 
1,056,673
 
NZD
 
SSB
 
4/16/2019
     
(15,764)
3,233,554
 
USD
 
4,774,324
 
NZD
 
SSB
 
4/16/2019
     
(71,227)
68,380
 
USD
 
4,571,150
 
RUB
 
GSI
 
4/16/2019
     
(640)
77,987
 
USD
 
5,274,139
 
RUB
 
GSI
 
4/16/2019
     
(1,648)
383,597
 
USD
 
26,053,317
 
RUB
 
SSB
 
4/16/2019
     
(9,783)
13,332,080
 
SEK
 
1,490,051
 
USD
 
CITI
 
4/16/2019
     
(8,196)
2,067,448
 
SEK
 
230,796
 
USD
 
GSI
 
4/16/2019
     
(1,000)
6,240,639
 
SEK
 
694,666
 
USD
 
GSI
 
4/16/2019
     
(1,022)
520,028
 
SEK
 
58,821
 
USD
 
JPM
 
4/16/2019
     
(1,021)
343,270
 
SEK
 
38,858
 
USD
 
RBC
 
4/16/2019
     
(703)
7,468,311
 
SEK
 
845,401
 
USD
 
RBC
 
4/16/2019
     
(15,302)
29,993,034
 
SEK
 
3,395,164
 
USD
 
RBC
 
4/16/2019
     
(61,453)
7,764,706
 
SEK
 
878,383
 
USD
 
SCB
 
4/16/2019
     
(15,340)
11,672,165
 
SEK
 
1,320,415
 
USD
 
SCB
 
4/16/2019
     
(23,059)
347,384
 
SEK
 
39,265
 
USD
 
SSB
 
4/16/2019
     
(654)
8,173,195
 
SEK
 
914,678
 
USD
 
SSB
 
4/16/2019
     
(6,231)
4,047,998
 
SEK
 
459,725
 
USD
 
SSB
 
4/16/2019
     
(9,792)
18,810,960
 
SEK
 
2,126,230
 
USD
 
SSB
 
4/16/2019
     
(35,401)
104,073,636
 
SEK
 
11,763,593
 
USD
 
SSB
 
4/16/2019
     
(195,858)
213
 
USD
 
1,244
 
TRY
 
GSI
 
4/16/2019
     
(18)
59,410
 
USD
 
838,314
 
ZAR
 
CITI
 
4/16/2019
     
(3,273)
311,820
 
USD
 
4,400,000
 
ZAR
 
CITI
 
4/16/2019
     
(17,175)
77,880
 
USD
 
1,096,972
 
ZAR
 
JPM
 
4/16/2019
     
(4,142)
68,196
 
USD
 
962,256
 
ZAR
 
RBC
 
4/16/2019
     
(3,753)
2,057,921
 
USD
 
29,037,465
 
ZAR
 
RBC
 
4/16/2019
     
(113,251)
65,225
 
USD
 
910,147
 
ZAR
 
SSB
 
4/16/2019
     
(2,829)
69,274
 
USD
 
977,017
 
ZAR
 
SSB
 
4/16/2019
     
(3,779)
83,640
 
USD
 
1,179,631
 
ZAR
 
SSB
 
4/16/2019
     
(4,562)
     
Total unrealized depreciation
$
(2,943,821)
     
Total net unrealized depreciation
$
(191,119)
 
See Notes to Schedule of Investments

Schedule of Investments Unconstrained Bond Fund^
(Unaudited) (cont’d)
 
 
At January, 31, 2019, the Fund had cash collateral of $330,000 deposited in a segregated account for State Street Bank and Trust Company and received cash collateral of $360,000 and $120,000 from Goldman Sachs International and Societe General, respectively, to cover collateral requirements on over-the-counter derivatives.

Credit default swap contracts ("credit default swaps")
 
At January 31, 2019, the Fund had outstanding credit default swaps as follows:
 
Centrally Cleared Credit Default Swaps — Buy Protection
 
Clearinghouse
Reference
Entity
Notional
Amount
Financing
Rate
Paid by
the Fund
Payment Frequency
Maturity
Date
 
Upfront
Payments
(Receipts)
 
Unrealized
Appreciation/
(Depreciation)
Accrued
Net
Interest
Receivable/
(Payable)
 
Value
ICE CC
CDX Emerging Markets Index, Ser. 28 V.2
USD 5,034,000
1.00%
3M
12/20/2022
$
161,410
$
(106,339)
$
(6,013)
$
49,058
ICE CC
CDX North American High Yield Index, Ser. 30 V.3
USD 13,426,000
5.00%
3M
6/20/2023
 
(815,786)
 
(91,515)
 
(80,191)
 
(987,492)
Total
$
(654,376)
$
(197,854)
$
(86,204)
$
(938,434)
 
Interest rate swap contracts ("interest rate swaps")
 
At January 31, 2019, the Fund had outstanding interest rate swaps as follows:
 
Centrally cleared interest rate swaps
 
Clearinghouse
Notional
Amount
Fund
Receives/Pays
Floating Rate
Floating Rate
Index
Annual
Fixed-Rate
Frequency
of Fund Receipt/
Payment
Maturity
Date
Unrealized
Appreciation/
(Depreciation)
Accrued Net Interest Receivable/ (Payable)
Value
LCH
SEK 85,000,000
Receive
3-month Stockholm Interbank Offer Rate (STIBOR)
(0.17)%
3M/1Y
12/22/2019
$
7,196
$
(177)
$
7,020
LCH
SEK 30,000,000
Receive
3-month Stockholm Interbank Offer Rate (STIBOR)
(0.01)%
3M/1Y
7/18/2020
 
254
 
125
 
379
LCH
SEK 27,000,000
Receive
3-month Stockholm Interbank Offer Rate (STIBOR)
0.01%
3M/1Y
8/29/2020
 
(911)
 
(2,238)
 
(3,149)
LCH
SEK 9,000,000
Receive
3-month Stockholm Interbank Offer Rate (STIBOR)
0.15%
3M/1Y
1/15/2021
 
(2,017)
 
(107)
 
(2,124)
LCH
SEK 16,480,000
Receive
3-month Stockholm Interbank Offer Rate (STIBOR)
0.10%
3M/1Y
8/9/2021
 
490
 
(2,887)
 
(2,397)
CME
USD 550,000
Receive
3-month USD LIBOR
2.43%
3M/6M
12/7/2027
 
9,167
 
360
 
9,527
Total
$
14,179
$
(4,924)
$
9,255

At January, 31, 2019, the Fund had $1,448,551 deposited in a segregated account to cover margin requirements for
centrally cleared credit default swaps.
 
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
 
(000's omitted)
 
Level 1
   
Level 2
   
Level 3(b)
   
Total
 
Investments:
       
U.S. Treasury Obligations
 
$
   
$
9,527
   
$
   
$
9,527
 
Mortgage-Backed Securities(a)
   
     
8,660
     
     
8,660
 
Corporate Bonds(a)
   
     
38,691
     
     
38,691
 
Asset-Backed Securities
   
     
6,556
     
     
6,556
 
Foreign Government Securities
   
     
14,101
     
     
14,101
 
Exchange-Traded Funds
   
3,970
     
     
     
3,970
 
Short-Term Investments
   
     
1,265
     
     
1,265
 
Total Investments
 
$
3,970
   
$
78,800
   
$
   
$
82,770
 
 
(a)
The Schedule of Investments provides information on the industry or sector categorization for the portfolio.

(b)
The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining the value:

(000’s omitted)
 
 
 
 
Beginning balance, as of 11/1/2018
 
 
 
 
 
Accrued discounts/
(premiums)
 
 
 
 
 
 
Realized gain/(loss)
 
 
 
 
Change in unrealized appreciation/ (depreciation)
 
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
Sales
 
 
 
 
 
Transfers in
to Level 3
 
 
 
 
 
Transfers out of Level 3
 
 
 
 
 
Balance as of
1/31/2019
Net change in unrealized appreciation/
(depreciation) from
investments still held as of 1/31/2019
 
Investments in Securities:
                     
Corporate Bonds(c)
 
 
$173
 
 
$—
 
 
$—
 
 
$—
 
 
$—
 
 
$—
 
 
$—
 
 
$(173)
 
 
$—
 
 
$—
 
Total
$173
$
$
$
$—
$
$
$(173)
$—
$
 
 
(c)
At the beginning of the year, these investments were valued based on a single quotation obtained from a dealer. The Fund does not have access to unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of January 31, 2019:
 
Other Financial Instruments
(000's omitted)
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets
Futures(a)
                       
Assets
 
$
1,248
   
$
   
$
   
$
1,248
 
Liabilities
   
(3,086
)
   
     
     
(3,086
)
Forward Contracts(a)
                               
Assets
   
     
2,753
     
     
2,753
 
Liabilities
   
     
(2,944
)
   
     
(2,944
)
Swaps
                               
Assets
   
     
66
     
     
66
 
Liabilities
   
     
(995
)
   
     
(995
)
Total
 
$
(1,838
)
 
$
(1,120
)
 
$
   
$
(2,958
)
 
(a)
Futures and forward contracts are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^
A balance indicated with a “-“, either reflects a zero balance or an amount that rounds to less than 1.

 
 
See Notes to Schedule of Investments

Notes to Schedule of Investments (Unaudited)

 

In accordance with Accounting Standards Codification 820 "Fair Value Measurement" ("ASC 820"), all investments held by each of Neuberger Berman Core Bond Fund, Neuberger Berman Core Plus Fund, Neuberger Berman Emerging Markets Debt Fund, Neuberger Berman Floating Rate Income Fund (“Floating Rate Income”), Neuberger Berman High Income Bond Fund, Neuberger Berman Municipal High Income Fund, Neuberger Berman Municipal Intermediate Bond Fund, Neuberger Berman Municipal Impact Fund, Neuberger Berman Short Duration Bond Fund, Neuberger Berman Short Duration High Income Fund, Neuberger Berman Strategic Income Fund (“Strategic Income”) and Neuberger Berman Unconstrained Bond Fund, (each individually a “Fund,” and collectively, the “Funds”) are carried at the value that Neuberger Berman Investment Advisers LLC (“Management”) believes a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Funds' investments, some of which are discussed below. Significant Management judgment may be necessary to value investments in accordance with ASC 820.
ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.
•  
Level 1 – quoted prices in active markets for identical investments
•  
Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)
•  
Level 3 – unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.
The value of the Funds’ investments in equity securities and exchange-traded funds, for which market quotations are readily available, is generally determined by Management by obtaining valuations from independent pricing services based on the latest sale price quoted on a principal exchange or market for that security (Level 1 inputs). Securities traded primarily on the NASDAQ Stock Market are normally valued at the NASDAQ Official Closing Price (“NOCP”) provided by NASDAQ each business day. The NOCP is the most recently reported price as of 4:00:02 p.m., Eastern Time, unless that price is outside the range of the “inside” bid and asked prices (i.e., the bid and asked prices that dealers quote to each other when trading for their own accounts); in that case, NASDAQ will adjust the price to equal the inside bid or asked price, whichever is closer. Because of delays in reporting trades, the NOCP may not be based on the price of the last trade to occur before the market closes. If there is no sale of a security on a particular day, the independent pricing services may value the security based on market quotations.
The value of the Funds' investments in debt securities is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid quotations, or if quotations are not available, by methods which include various considerations based on security type (generally Level 2 inputs). In addition to the consideration of yields or prices of securities of comparable quality, coupon, maturity and type, indications as to values from dealers, and general market conditions, the following is a description of other Level 2 inputs and related valuation techniques used by independent pricing services to value certain types of debt securities held by the Funds:
Corporate Bonds. Inputs used to value corporate debt securities generally include relative credit information, observed market movements, sector news, U.S. Treasury yield curve or relevant benchmark curve, and other market information, which may include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, benchmark securities, bids, offers, and reference data, such as market research publications, when available ("Other Market Information").
U.S. Treasury Obligations. Inputs used to value U.S. Treasury securities generally include quotes from several inter-dealer brokers and Other Market Information.
U.S. Government Agency Securities. Inputs used to value U.S. Government Agency securities generally include obtaining benchmark quotes and Other Market Information.
Asset-Backed Securities and Mortgage-Backed Securities. Inputs used to value asset-backed securities and mortgage-backed securities generally include models that consider a number of factors, which may include the following: prepayment speeds, cash flows, spread adjustments and Other Market Information.
 
For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

Notes to Schedule of Investments (Unaudited)(cont’d)
 
 
High Yield Securities. Inputs used to value high yield securities generally include a number of observations of equity and credit default swap curves related to the issuer and Other Market Information.
Municipal Debt Securities. Inputs used to value municipal debt securities include current trades, bid-wanted lists (which informs the market that a holder is interested in selling a position and that offers will be considered), offerings, general information on market movement, direction, trends, and specific data on specialty issues.
Emerging Markets Debt, Sovereign Debt, and Quasi-Sovereign Debt. Inputs used to value emerging markets debt, sovereign debt and quasi-sovereign debt generally include dealer quotes, bond market activity, discounted cash flow models, and other relevant information such as credit spreads, benchmark curves and Other Market Information.
Convertible Bonds. Inputs used to value convertible bonds generally include underlying stock data, dealer  quotes, conversion premiums, listed bond and preferred stock prices and other market information, which may include benchmark curves, trade execution data, and sensitivity analysis, when available.
The value of forward contracts is determined by Management by obtaining valuations from independent pricing services based on actual traded currency rates on independent pricing services' networks, along with other traded and quoted currency rates provided to the pricing services by leading market participants (Level 2 inputs).
The value of loan assignments is determined by Management primarily by obtaining valuations from independent pricing services based on broker quotes (generally Level 2 or Level 3 inputs depending on the number of quotes available).
The value of futures is determined by Management by obtaining valuations from independent pricing services at the settlement price at the market close (Level 1 inputs).
The value of interest rate swaps is determined by Management primarily by obtaining valuations from independent pricing services based on references to the underlying rates including the local overnight index swap rate and the respective interbank offered forward rate to produce the daily price. The present value is calculated based off of expected cash flows based on swap parameters along with reference to the underlying yield curve and reference rate (generally Level 2 inputs).
The value of credit default swaps is determined by Management by obtaining valuations from independent pricing services using a model that considers a number of factors, which may include default probabilities, credit curves, recovery rates and cash flows (Level 2 inputs).
The value of cross currency swaps is determined by Management by obtaining valuations from independent pricing services based on present value of expected cash flows based on swap parameters along with reference to the underlying yield curve and reference rate (Level 2 inputs).
Management has developed a process to periodically review information provided by independent pricing services for all types of securities.
Investments in non-exchange traded investment companies are valued using the respective fund's daily calculated net asset value (“NAV”) per share (Level 2 inputs).
If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount a Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not readily available, the security is valued using methods the Neuberger Berman Income Funds Board of Trustees (the “Board”) has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Numerous factors may be considered when determining the fair value of a security based on Level 2 or Level 3 inputs, including available analyst, media or other reports, securities within the same industry with recent highly correlated performance, trading in futures or American Depositary Receipts and whether the issuer of the security being fair valued has other securities outstanding.
The value of the Funds’ investments in foreign securities is generally determined using the same valuation methods and inputs as other Fund investments, as discussed above. Foreign security prices expressed in local currency values are normally translated from the local currency into U.S. dollars using the exchange rates as of 4:00 p.m., Eastern Time on days the New York Stock Exchange is open for business. The Board has approved the use of ICE Data Pricing and Reference Data LLC (“ICE”) to evaluate the prices of foreign debt securities as of the time as of which a Fund’s share price is calculated. ICE utilizes benchmark spread and yield curves and evaluates available market
 
For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

Notes to Schedule of Investments (Unaudited)(cont’d)
 
 
activity from the local close to the time as of which a Fund’s share price is calculated (Level 2 inputs) to assist in determining prices for certain foreign debt securities. In the absence of precise information about the market values of these foreign securities as of the time as of which a Fund’s share price is calculated, the Board has determined on the basis of available data that prices evaluated in this way are likely to be closer to the prices a Fund could realize on a current sale than are the prices of those securities established at the close of the foreign markets in which the securities primarily trade.
Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.
The Funds may enter into certain credit agreements all or a portion of which may be unfunded. The Funds are obligated to fund these commitments at the borrower’s discretion. As of January 31, 2019, the value of unfunded loan commitments was approximately $191,000 and $55,000 for Floating Rate Income and Short Duration High Income, respectively, pursuant to the following loan agreements:

Floating Rate Income
(000’s omitted)
 
Borrower
 
 
Principal
Amount
 
 
 
Value
Pearl Intermediate Parent LLC, Term Loan, 4.25%, due 2/14/25
$45
$43
PG&E Corp., Term Loan, due 12/31/20
149
148
 
Short Duration High Income
(000’s omitted)
 
Borrower
 
 
Principal
Amount
 
 
 
Value
Agiliti Health, Inc., Term Loan, 1.50%, due 1/4/26
$55
$55

In August 2018, FASB issued Accounting Standards Update No. 2018-13, “Fair Value Measurement (Topic 820: Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”).  ASU 2018-13 eliminates the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the timing of transfers between levels of the fair value hierarchy and the valuation processes for Level 3 fair value measurements. ASU 2018-13 will require the need to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements and the changes in unrealized gains and losses for recurring Level 3 fair value measurements. ASU 2018-13 will also require that information is provided about the measurement uncertainty of Level 3 fair value measurements as of the reporting date. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and allows for early adoption of either the entire standard or only the provisions that eliminate or modify the requirements. Management has elected to adopt early the provisions that eliminate the disclosure requirements. Management is still currently evaluating the impact of applying the rest of the guidance.
The Core Plus Fund was liquidated effective February 27, 2019, pursuant to a Plan of Liquidation approved by the Board.
 
 
For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

Notes to Schedule of Investments (Unaudited)(cont’d)
 
 
Legend
Benchmarks:
BADLARPP =  Argentina Deposit Rates Badlar Private Banks
CMT =  Constant Maturity Treasury
EURIBOR =  Euro Interbank Offered Rate
ICE =  Intercontinental Exchange
LIBOR =  London Interbank Offered Rate
 
Currency Abbreviations:
ARS
=
 Argentine Peso
AUD
=
 Australian Dollar
BRL
=
 Brazilian Real
CAD
=
 Canadian Dollar
CHF
=
 Swiss Franc
CLP
=
 Chilean Peso
CNY
=
 Chinese Yuan Renminbi
COP
=
 Colombian Peso
CZK
=
 Czech Koruna
DKK
=
 Danish Krone
DOP
=
 Dominican Peso
EGP
=
 Egyptian Pound
EUR
=
 Euro
GBP
=
 Pound Sterling
GHS
=
 Ghanaian Cedi
HUF
=
 Hungarian Forint
IDR
=
 Indonesian Rupiah
ILS
=
 Israeli Shekel
INR
=
 Indian Rupee
JPY
=
 Japanese Yen
KRW
=
 South Korean Won
KZT
=
 Kazakhstani Tenge
LKR
=
 Sri Lanka Rupee
MXN
=
 Mexican Peso
MYR
=
 Malaysian Ringgit
NOK
=
 Norwegian Krone
NZD
=
 New Zealand Dollar
PEN
=
 Peruvian Nuevo Sol
PHP
=
 Philippine Peso
PLN
=
 Polish Zloty
RON
=
 New Romanian Leu
RUB
=
 Russian Ruble
SEK
=
 Swedish Krona
THB
=
 Thai Baht
TRY
=
 Turkish Lira
USD
=
 United States Dollar
UYU
=
 Uruguayan Peso
ZAR
=
 South African Rand
 
Non-deliverable forward contracts:
 
ARS
=
 Argentine Peso
BRL
=
 Brazilian Real
CLP
=
 Chilean Peso
CNY
=
 Chinese Yuan Renminbi
COP
=
 Colombian Peso
EGP
=
 Egyptian Pound
IDR
=
 Indonesian Rupiah
INR
=
 Indian Rupee
KRW
=
 South Korean Won
KZT
=
 Kazakhstani Tenge
MYR
=
 Malaysian Ringgit
PEN
=
 Peruvian Nuevo Sol
PHP
=
 Philippine Peso
RUB
=
 Russian Ruble
 
Counterparties:
CITI =  Citibank, N.A.
GSI =  Goldman Sachs International
 
For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

Notes to Schedule of Investments (Unaudited)(cont’d)
 
 
JPM =  JPMorgan Chase Bank N.A.
RBC = Royal Bank of Canada
SCB =  Standard Chartered Bank
SG =  Societe Generale
SSB =  State Street Bank and Trust Company
 
Clearinghouses:
CME = CME Group, Inc.
ICE CC = ICE Clear Credit LLC
LCH = LCH. Clearnet Limited

Payment Frequencies:
28D = 28 Days
3M =  3 Months
6M =  6 Months
1Y =  1 Year
T = Upon Termination

 
 
 
 
 
 
 
 
 

For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.


Item 2. Controls and Procedures.
(a)
Based on an evaluation of the disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act), as of a date within 90 days of the filing date of this report, the Chief Executive Officer and President and the Treasurer and Principal Financial and Accounting Officer of the Registrant have concluded that such disclosure controls and procedures are effectively designed to ensure that information required to be disclosed by the Registrant on Form N-Q is accumulated and communicated to the Registrant’s management to allow timely decisions regarding required disclosure.
 (b)
There were no significant changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 3. Exhibits.
The certifications required by Rule 30a-2(a) of the 1940 Act are filed herewith.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Neuberger Berman Income Funds
By:
 
 
 
Chief Executive Officer and President
   
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
   
   
By:
 
 
 
Chief Executive Officer and President
   
   
By:
 
 
 
Treasurer and Principal Financial
 
and Accounting Officer

Date:  March 27, 2019
 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘N-Q’ Filing    Date    Other Filings
8/1/26
12/15/19
Filed on / Effective on:3/27/19
2/27/19497K
For Period End:1/31/19
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