Six Circles Trust

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Investments in a Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money if you sell when a Fund’s share price is lower than when you invested.

Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets. References to specific securities and their issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. Such views are not meant as investment advice and may not be relied on as an indication of trading intent on behalf of any Fund.

For more complete information about the Funds, including the Funds’ objectives, risks, charges and expenses, call your J.P. Morgan representative or call 1-212-464-2070 or go to www.sixcirclesfunds.com for a prospectus. Read the prospectus carefully. An investment in these Funds and any other Fund is not designed to be a complete investment program. The Funds are NOT designed to be used as stand-alone investments.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Ultra Short Duration Fund (the “Fund”) seeks to generate current income consistent with capital preservation. The Fund mainly invests in U.S. dollar and non-U.S. dollar denominated investment grade short-term fixed and floating rate debt securities. The Fund allocates assets among securities with various maturities which, under normal market conditions, will not exceed an average effective portfolio duration of two years.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”) constructs the Fund’s portfolios by allocating the Fund’s assets among investment strategies managed by one or more sub-advisers retained by the Adviser (each a “Sub-Adviser”).

The Adviser currently engages the following Sub-Advisers:

•

Goldman Sachs Asset Management, L.P. (“Goldman”)(a)

•

BlackRock Investment Management, LLC (“BlackRock”)

•

Pacific Investment Management Company LLC (“PIMCO”)

(a)	During the reporting period, the Adviser did not allocate Fund assets to Goldman.

The Adviser may adjust allocations to the Sub-Advisers at any time or make recommendations to the Board of Trustees of the Six Circles Trust (the “Board”) with respect to the hiring, termination or replacement of a Sub-Adviser. As such, the identity of the Fund’s Sub-Advisers, the investment strategies they pursue and the portion of the Fund allocated to them, may change over time.

The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the broader Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2023 through December 31, 2023 (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed relative to the Bloomberg

1-3 Month U.S. Treasury Bill Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Investment Grade Credit and Securitized Credit comprised approximately 75% of the Fund’s exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector overweights relative to the Index. During the reporting period, both sectors contributed to the Fund’s performance on an absolute basis, as well as relative to the Index.

The Fund’s exposure to Government Bonds was the Fund’s largest sector underweight relative to the Index and comprised approximately 17% of the Fund’s exposure on a look-through basis at the end of the reporting period. During the reporting period, this sector contributed to the Fund’s performance on an absolute basis as well as relative to the Index.

On an allocation level, the Fund’s allocations to Core Ultra Short and Global Markets strategies contributed to the Fund’s return on an absolute basis.

During the reporting period, the use of fixed income futures contracts detracted from the Fund’s performance.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period the Fund was allocated to two Sub-Advisers as follows.


PORTFOLIO ALLOCATION***
Core Ultra Short (BlackRock)	70	%
Global Markets (PIMCO)	30

The return shown is based on the net asset value calculated for shareholder transactions. Certain adjustments were made to the net assets of the Fund at December 31, 2023 for financial reporting purposes, and as a result, the net asset value for shareholder transactions and the total return based on that net asset value may differ from the adjusted net assets and the total return for financial reporting.

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Within the fixed income allocation on the broader Portfolio level, the Adviser prefers high-quality liquid investments combined with flexibility to implement opportunistic ideas across fixed income markets. The majority of the Fund’s assets were invested into the more liquid segments of the fixed income market, with approximately 100% of the Fund invested in instruments with maturities of three years and under as of December 31, 2023.

The Adviser allocates to the two Sub-Advisers, with the expectation that the Sub-Advisers will capitalize on the opportunities present in the segment of the fixed income market that their specific mandate is focused on.

The Core Ultra Short allocation, which comprised approximately 70% of the Fund as of December 31, 2023, invests in a diversified fixed income portfolio on the shorter end of the U.S. fixed income market, balancing income against credit quality, within the context of the broader portfolios.

The Global Markets allocation, which comprised approximately 30% of the Fund as of December 31, 2023, has a broad investment universe, seeking total return opportunities within the global fixed income markets.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			5 Year			Since Inception (July 9, 2018)
Six Circles Ultra Short Duration Fund		5.92	%		2.18	%		2.11	%

GROWTH OF $10,000 REPORT (07/9/2018 TO 12/31/2023)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

²⁾	(0.19)% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Fund’s derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.32% and 0.19% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Ultra Short Duration Fund and the Bloomberg 1-3 Month U.S. Treasury Bill Index from July 9, 2018 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg 1-3 Month U.S. Treasury Bill Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The Bloomberg 1-3 Month U.S. Treasury Bill Index measures the performance of public obligations of the U.S. Treasury that have a remaining maturity of greater than or equal to 1 month and less than 3 months. Investors cannot invest directly in an index.

Fund performance may reflect the waiver of the Fund’s fees and/or reimbursement of expenses for certain periods since the inception date. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or redemptions or sales of Fund shares.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) and is licensed for use by JP MORGAN CHASE BANK NA. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Tax Aware Ultra Short Duration Fund (the “Fund”) seeks to generate current income consistent with capital preservation. The Fund invests at least 50% of its net assets in municipal securities, the income from which is exempt from federal income tax¹⁾. The Fund also may invest in taxable instruments. The Fund allocates assets among securities with various maturities which, under normal market conditions, will not exceed an average effective portfolio duration of two years.

INVESTMENT APPROACH

The Adviser currently engages the following Sub-Advisers:

•

Goldman Sachs Asset Management, L.P. (“Goldman”)(a)

•

Insight North America LLC (“Insight”)

•

Pacific Investment Management Company LLC (“PIMCO”)

(a)	During the reporting period, the Adviser did not allocate Fund assets to Goldman.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2023 through December 31, 2023 (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed relative to the iMoneyNet

Tax-Free National Institutional Money Market Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Municipal Bonds and Investment Grade Credit were the largest sector exposures in the Fund on a look-through basis and comprised approximately 54% and 14% of the Fund, respectively, at the end of the reporting period. Exposure to both Investment Grade Credit and Municipals contributed to the Fund’s performance on an absolute basis and relative to the Index.

On an allocation level, the Fund’s allocations to both Core Municipal Ultra Short and Global Markets strategies contributed to the Fund’s return on an absolute basis.

During the reporting period, the use of fixed income futures contracts detracted from the Fund’s performance.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period the Fund was allocated to two Sub-Advisers as follows.


PORTFOLIO ALLOCATION***
Core Municipal Ultra Short (Insight)	70	%
Global Markets (PIMCO)	30

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

¹⁾

Interest on Municipal securities is exempt from federal income tax however interest on certain bonds may be subject to the federal alternative minimum tax for individuals.

Within the fixed income allocation on the broader Portfolio level, the Adviser prefers high-quality liquid investments combined with flexibility to implement opportunistic ideas across fixed income markets. The majority of the Fund’s assets were invested into the more liquid segments of the fixed income market, with approximately 98% of the Fund invested in instruments with maturities of three years and under as of December 31, 2023.

The Core Municipal Ultra Short allocation, which comprised approximately 70% of the Fund as of December 31, 2023, invests in a diversified fixed income portfolio on the shorter end of the U.S. municipal fixed income market, balancing income against credit quality, within the context of the broader Portfolio.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			5 Year			Since Inception (July 9, 2018)
Six Circles Tax Aware Ultra Short Duration Fund		3.84	%		1.46	%		1.42	%

GROWTH OF $10,000 REPORT (07/9/2018 TO 12/31/2023)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS®) and may differ from categories listed within the Schedule of Investments.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.31% and 0.15% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Tax Aware Ultra Short Duration Fund and the iMoneyNet Tax-Free National Institutional Money Market Index from July 9, 2018 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. Although the performance of the iMoneyNet Tax-Free National Institutional Money Market Index reflects returns of constituent mutual funds net of expenses, the index itself is unmanaged and no expenses are deducted at the index level. The performance of the Index has also been adjusted to reflect reinvestment of all dividends and capital gain distributions of the mutual funds included in the Index, if applicable.

The iMoneyNet Tax-Free National Institutional Money Market Index is an average of all tax-free and municipal, U.S.-domiciled institutional and retail money market funds. Investors cannot invest directly in an index.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles U.S. Unconstrained Equity Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests at least 80% of its net assets in equity securities issued by U.S. companies and other instruments with economic characteristics similar to equity securities issued by U.S. companies. The Fund is generally unconstrained by any particular capitalization, style or industry sector.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. In addition to allocating and reallocating the Fund’s assets among one or more indexed investment strategies, the Adviser may also select securities of specific individual companies for the Fund to purchase or sell on an ongoing basis and the amount of the Fund’s assets to allocate to such securities. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the broader Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2023 through December 31, 2023 (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed relative to the MSCI USA Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Energy, Financials and HealthCare sectors comprised approximately 39% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector overweights relative to the Index. On an absolute

basis, Energy and Financials contributed to performance while HealthCare detracted. Relative to the Index, Energy contributed to the Fund’s performance, whereas Financials and HealthCare detracted.

Consumer Staples, Consumer Discretionary and Materials sectors comprised approximately 12% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector underweights relative to the Index. On an absolute basis and relative to the Index, all three sectors contributed to the Fund’s performance.

Additionally, the Fund’s exposure to Communication Services and Information Technology sectors comprised approximately 37% of the Fund’s exposure on a look-through basis at the end of the reporting period and were slight underweights relative to the Index. Information Technology was the largest contributor to the Fund’s performance on an absolute basis and Communication Services was the largest contributor relative to the Index.

On an allocation level, the Fund’s allocation to U.S. Software was the largest contributor to the Fund’s return on an absolute basis, whereas Life Sciences Tools & Services was the largest detractor to the Fund’s return on an absolute basis during the reporting period.

The Fund employed equity futures in order to maintain market exposures during the reporting period. The use of equity futures contributed to the Fund’s performance during the year.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to eleven strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
USA	33	%
U.S. Custom Equity Sleeve (JPMPI)	27
U.S. Financials	10
U.S. Software	8
U.S. Technology, Hardware & Equipment	6
U.S. Pharmaceuticals	6
U.S. Semiconductors & Semiconductor Equipment	4
US Interactive Media & Services	2
U.S. Energy	2
Life Sciences Tools & Services	1
U.S. Beverages	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Allocation to Broad USA comprised approximately 33% of the Fund as of December 31, 2023. Within the context of the broader Portfolios, the Adviser believes that an allocation to Broad USA provides the ability to tactically allocate to broad U.S. large cap exposure and use as a potential funding source for future targeted allocations.

Allocation to the Custom Equity Sleeve was approximately 27% of the Fund as of December 31, 2023. This portion of the Fund’s investments is allocated to individual publicly traded large capitalization U.S. equity securities selected by the Adviser. Securities included in the U.S. Custom Equity Sleeve may be represented by a variety of U.S. sectors, sub-sectors or industries and are selected for inclusion by the Adviser based on its investment analysis in order to assist with either portfolio construction, risk management, liquidity considerations, or a combination thereof.

Allocation to U.S. Software provides what the Adviser believes is a multi-year opportunity for the leaders in this space to take advantage of businesses shifting workloads onto Cloud-based platforms. This exposure comprised approximately 8% of the Fund as of December 31, 2023.

Allocation to U.S. Financials comprised approximately 10% of the Fund as of December 31, 2023. The Adviser believes in capital adequacy and dividend sustainability in the sector and has conviction in the sector given compelling valuations and more realistic market expectations about potential credit costs and buybacks.

Allocation to U.S. Pharmaceuticals comprised approximately 6% of the Fund, as of December 31, 2023. The Adviser believes that pharmaceutical companies have strong fundamentals with attractive valuations in the current market.

Allocation to U.S. Technology, Hardware & Equipment allows the Adviser to access specific exposures within the Technology sector. The allocation comprised approximately 6% of the Fund as of December 31, 2023.

Allocation to U.S. Interactive Media & Services focuses on companies engaged in content and information creation or

distribution through proprietary platforms, where revenues are derived primarily through pay-per-click advertisements. This allocation was approximately 2% of the Fund as of December 31, 2023. The Adviser believes in the opportunities available in the cloud market and views this exposure as potential for continued strength in earnings growth.

Allocation to Life Sciences Tools & Services was approximately 1% of the Fund as of December 31, 2023. The Adviser believes that the sector is comprised of high quality and large cap companies with potential for double digit earnings growth.

The Adviser believes that valuations for U.S. Semiconductors & Semiconductor Equipment companies are now more reasonable and provide an attractive entry point. This allocation comprised approximately 4% of the Fund as of December 31, 2023.

Allocation to U.S. Beverages was approximately 1% of the Fund’s exposure as of December 31, 2023, and reflects the Adviser’s belief that this industry is relatively defensive relative to the market. The Adviser currently believes that certain companies in this sector are going through structural changes and may have the potential to improve free cash flow conversion.

Allocation to U.S. Energy was approximately 2% of the Fund’s exposure as of December 31, 2023. The Adviser added to this allocation as a portfolio construction trade, aiming to rebalance risks within the Portfolio.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			5 Year			Since Inception (July 9, 2018)
Six Circles U.S. Unconstrained Equity Fund		30.43	%		16.41	%		12.89	%

GROWTH OF $10,000 REPORT (07/9/2018 TO 12/31/2023)

LOGO

¹⁾

Presented percentages may not sum to 100% due to rounding to the nearest percent. Cash and mark-to-market value on derivatives contracts represent less than 0.5%. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.27% and 0.06% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles U.S. Unconstrained Equity Fund and the MSCI USA Index from July 9, 2018 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The MSCI USA Index is designed to measure the performance of the large and mid-cap segments of the U.S. market. With 609 constituents, the Index covers approximately 85% of the free float-adjusted market capitalization in the United States. Investors cannot invest directly in an index.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles International Unconstrained Equity Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests

at least 80% of its net assets in equity securities and other instruments with economic characteristics similar to equity

securities. The Fund primarily invests in the equity securities of non-U.S. companies and is generally unconstrained by any particular capitalization, style or sector or non-U.S. country.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2023 through December 31, 2023 (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed the MSCI World ex-USA Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Information Technology, Consumer Staples and Materials sectors comprised approximately 39% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector overweights relative to the Index. Information Technology and Materials contributed to the Fund’s performance on an absolute basis, whereas Consumer Staples detracted. Relative to the Index, Consumer

Staples and Materials detracted from performance while Information Technology contributed to the Fund’s performance.

Consumer Discretionary, Communication Services and Industrials sectors comprised approximately 18% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector underweights relative to the Index. All three sectors contributed to the Fund’s performance on an absolute basis. Relative to the Index, Consumer Discretionary and Communication Services contributed to the Fund’s performance, while Industrials detracted.

On an allocation level, Europe Financials was the largest contributor to the Fund’s performance on an absolute basis, while the allocation to Europe Beverages was the largest detractor from the Fund’s return on an absolute basis during the reporting period.

The Fund employed equity futures in order to maintain market exposures during the reporting period. The use of equity futures contributed to the Fund’s performance during the year.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to seventeen strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
Europe ex-UK	15	%
Europe Financials	13
Europe Materials	9
Broad UK	8
Europe Semiconductor & Semiconductor Equipment	7
Europe Pharmaceuticals	6
Europe Industrials	6
Europe Beverage	6
Japan	5
Switzerland Food Products	4
German Application Software	4
Europe Insurance	4
Denmark Pharmaceuticals Biotechnology & Life Sciences	4
Europe Textile Luxury Goods	3
Europe Integrated Oil & Gas	3
Taiwan Semiconductor & Semiconductor Equipment	2
Europe ex-UK Utilities	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Allocation to Europe ex-UK comprised approximately 15% of the Fund as of December 31, 2023. Within the context of the broader Portfolios, the Adviser believes that this is a defensive position, and the exposure to renewable energy helps diversify against European Energy positions and provides a growth dynamic to the sector, while trading at reasonable valuations.

Allocation to Europe Financials was approximately 13% of the Fund as of December 31, 2023. The Adviser has conviction in this sector due to improved capital levels and currently believes that Financials can directly benefit from higher inflation and interest rates through higher lending costs and better net interest margin.

Allocation to Broad UK comprised approximately 8% of the Fund as of December 31, 2023. Within the context of the broader Portfolios, the Adviser believes that the allocation provides exposure to a more cyclical European market that has clarity as COVID-19 subsides.

Allocation to Switzerland Food Products was approximately 4% of the Fund as of December 31, 2023, and serves as a defensive position, allowing the Adviser access to mainly large cap companies.

Allocation to Europe Integrated Oil & Gas was approximately 3% of the Fund as of December 31, 2023. The Adviser believes that the sector provides exposure to a cyclical industry that can take advantage of the early cycle environment.

The Adviser believes that companies within the Europe Semiconductors sector have reasonable valuations making the exposure very attractive with potential demand for semiconductors and semiconductor equipment following the theme of electrification. The sector comprised approximately 7% of the Fund as of December 31, 2023.

Allocation to Europe Beverages was approximately 6% of the Fund as of December 31, 2023. Europe accounts for a large portion of the industry’s demand. Although many European Beverage companies struggled in 2022, the Adviser believes that allocation to Europe Beverage could perform well as the China reopening provides strong headwinds to the demand.

Allocation to Europe Industrials was approximately 6% of the Fund as of December 31, 2023. The Adviser believes that the Industrials sector is built on cyclical exposures that benefit from economic recovery and growth.

Allocation to Europe Textile Luxury Goods was approximately 3% of the Fund as of December 31, 2023. The Adviser believes that the sector provides cyclical exposures in Europe that benefit from economic recovery and growth.

Allocation to Europe Pharmaceuticals comprised approximately 6% of the Fund as of December 31, 2023, and provides what the Adviser believes to be a defensive exposure with attractive fundamentals and valuations, within the context of the broader Portfolios.

The Adviser believes that the allocation to Broad Japan provides exposure to high quality Japanese companies with evolving business models. The allocation was approximately 5% of the Fund as of December 31, 2023.

Allocation to German Application Software was approximately 4% of the Fund as of December 31, 2023. German Investable Markets Index is primarily made up of SAP, a company the Advisor believes that the market is currently underappreciating given its cloud transition, value of defensive cashflows, and positive business model changes.

The Adviser believes that allocation to Europe ex-UK Utilities serves as a defensive position with exposure to renewable energy, which helps diversify against European Energy positions and provides a growth dynamic to the sector. This allocation was approximately 1% of the Fund as of December 31, 2023.

Allocation to Taiwan Semiconductors was approximately 2% of the Fund as of December 31, 2023. The Adviser believes that the allocation helps build out full international semiconductor exposure within the broader Portfolios.

Allocation to Europe Materials was approximately 9% of the Fund’s exposure as of December 31, 2023. The Adviser believes that the sector is currently undervalued due to poor operating environments, and views this exposure as potential for continued strength in earnings growth.

The Adviser believes that European Insurance is currently operating in a favorable environment given current interest rates and continued strength in the operating environment, where demand is greater than supply. Allocation to European Insurance was approximately 4% of the Fund’s exposure as of December 31, 2023.

Allocation to Denmark Pharmaceuticals Biotechnology & Life Sciences was approximately 4% of the Fund’s exposure as of December 31, 2023. The Adviser believes that the opportunity

that exists in this space is currently undervalued by the market, and currently believes that the growth potential in the industry could be significant over the next 10 years.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			5 Year			Since Inception (July 9, 2018)
Six Circles International Unconstrained Equity Fund		18.96	%		8.15	%		3.86	%

GROWTH OF $10,000 REPORT (07/9/2018 TO 12/31/2023)

LOGO

¹⁾

0.28% and 0.08% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles International Unconstrained Equity Fund and the MSCI World ex-USA Index from July 9, 2018 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI World ex-USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The MSCI World ex-USA Index captures large and mid-cap representation across 22 of 23 Developed Markets (DM) countries—excluding the United States. With 871 constituents, the Index covers approximately 85% of the free float-adjusted market capitalization in each country. Investors cannot invest directly in an index.

The MSCI Emerging Markets Index captures large and mid cap representation across 24 Emerging Markets (EM) countries. With 1,441 constituents, the Index covers approximately 85% of the free float-adjusted market capitalization in each country.

International investing has a greater degree of risk and increased volatility due to political and economic instability of some overseas markets. Changes in currency exchange rates and different accounting and taxation policies outside the U.S. can affect returns.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Global Bond Fund (the “Fund”) seeks to provide total return. The Fund invests mainly in a global portfolio of investment grade fixed income securities with varying maturities across government, corporate, and securitized fixed income sectors. The Fund will also allocate across a number of different countries around the World.

INVESTMENT APPROACH

The Adviser currently engages the following Sub-Advisers:

•

BlackRock Investment Management, LLC (“BlackRock”)

•

Pacific Investment Management Company LLC (“PIMCO”)

•

PGIM, Inc. (“PGIM”)

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2023 through December 31, 2023, (the “reporting period”) the Fund posted a positive return on an absolute basis and outperformed relative to the Bloomberg Global-Aggregate Index – Hedged USD (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the

Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Investment Grade Credit was the largest sector exposure in the Fund on a look-through basis and comprised approximately 37% of the Fund at the end of the reporting period, with the Fund being overweight this sector relative to the Index. Investment Grade Credit contributed to the Fund’s performance both on an absolute basis as well as relative to the Index during the reporting period.

Government Bonds comprised approximately 37% of the Fund’s exposure on a look-through basis at the end of the reporting period, with the Fund being underweight this sector relative to the Index. During the reporting period, exposure to Government Bonds contributed to the Fund’s performance on an absolute basis and relative to the Index.

On an allocation level, the Fund’s allocation to Pan European Credit was the largest contributor to the Fund’s performance on an absolute basis during the reporting period.

The Fund employed currency forwards to seek to minimize active currency risk from investments in non-dollar denominated securities. The currency forwards detracted from the Fund’s performance during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to twelve strategies across various sectors, credit ratings, maturity buckets, and regional exposures.


PORTFOLIO ALLOCATION***
Pan-European Credit (BlackRock)	40	%
Pan-European Government (BlackRock)	11
China Treasury & Policy Bank (BlackRock)	10
U.S. Treasury 10-20 Year (BlackRock)	9
Global Credit (PGIM)	7
Global Securitized (PIMCO)	7
U.S. Securitized (BlackRock)	6
Global Government (PGIM)	3
U.S. Credit (BlackRock)	3
U.S. Government (BlackRock)	2
Asia Pacific Government ex-China (BlackRock)	1
Pan European Securitized (BlackRock)	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Allocation to Global Credit and Pan European Credit comprised approximately 47% of the Fund as of December 31, 2023, and provides what the Adviser believes to be a full tracking error, flexible access point to a broad range of global corporate bonds across different regions, sectors, and credit qualities.

Allocations to Asia Pacific Government ex-China and Pan-European Government comprised approximately 12% of the Fund as of December 31, 2023, and provide what the Adviser believes is a low tracking error, tactical way to allocate to government bonds within these regions.

Allocation to Global Securitized and Pan European Securitized comprised approximately 8% of the Fund as of December 31, 2023, and provides what the Adviser believes to be full tracking error, flexible access to a broad range of securitized debt across different regions, sectors, and credit qualities.

The Adviser believes that the allocation to Global Government provides full tracking error access to a broad range of government bonds across different regions. The allocation was approximately 3% of the Fund as of December 31, 2023.

Allocations to U.S. Treasury, U.S. Credit, U.S. Government, and U.S. Securitized comprised approximately 20% of the Fund as of December 31, 2023. These allocations provide what the Adviser believes is a low tracking error, tactical way to allocate within these sectors.

Allocations to China Treasury & Policy Bank comprised approximately 10% of the Fund as of December 31, 2023. This exposure allows the portfolio to tactically allocate to Chinese government bonds.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			Since Inception (May 19, 2020)
Six Circles Global Bond Fund		8.16	%		0.10	%

GROWTH OF $10,000 REPORT (05/19/2020 TO 12/31/2023)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

²⁾	(0.76)% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Funds derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.31% and 0.12% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on May 19, 2020.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Global Bond Fund and the Bloomberg Global-Aggregate Index - Hedged USD from May 19, 2020 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Global-Aggregate Index - Hedged USD does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Tax Aware Bond Fund (the “Fund”) seeks to provide after-tax total return. The Fund invests at least 50% in municipal securities across varying maturity ranges, the income from which is exempt from federal income tax¹⁾. The Fund also may invest in taxable instruments.

INVESTMENT APPROACH

The Adviser currently engages the following Sub-Advisers:

•

Allspring Global Investments, LLC (“Allspring”)

•

BlackRock Investment Management, LLC (“BlackRock”)(a)

•

Capital International Inc. (“Capital Group”)

•

Nuveen Asset Management, LLC (“Nuveen”)

(a)	During the reporting period, the Adviser did not allocate Fund assets to this Sub-Adviser.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2023 through December 31, 2023, (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed relative to the Bloomberg 1-15 Year Municipal Bond Index (the “Index”). References to the

Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Investment Grade Rated Municipal Bonds were the largest sector exposure in the Fund on a look-through basis and comprised approximately 73% of the Fund at the end of the reporting period, with the Fund being underweight this sector relative to the Index. This sector contributed to the Fund’s performance both on an absolute basis as well as relative to the Index during the reporting period.

High Yield Municipal Bonds were approximately 25% of the Fund’s exposure on a look-through basis at the end of the reporting period, with the Fund being overweight to this sector relative to the Index. During the reporting period, exposure to High Yield Municipal Bonds contributed to the Fund’s performance on an absolute basis and relative to the Index.

On an allocation level, the full tracking error Municipal allocation managed by Nuveen was the largest contributor to the Fund’s return.

The Fund employed interest rate futures in order to manage interest rate risk and duration during the reporting period. The use of derivatives detracted from the Fund’s performance.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to three strategies across various sectors, credit ratings, maturity buckets, and regional exposures.


PORTFOLIO ALLOCATION***
Municipals (Allspring)	35	%
Municipals (Nuveen)	35
1-17 Year Municipal (Capital Group)	30

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

¹⁾

Interest on Municipal securities is exempt from federal income tax however interest on certain bonds may be subject to the federal alternative minimum tax for individuals.

An allocation to Capital Group 1-17 Year Municipal strategy comprised approximately 30% as of December 31, 2023. This allocation provides what the Adviser believes to be low tracking error, flexible access points to municipal debt within short, intermediate and long maturity ranges.

The Adviser believes that the allocations to Municipal strategies sub-advised by Nuveen and Allspring provide full tracking error, flexible access to a broad range of municipals across different sectors and credit qualities. Each of these allocations were approximately 35% of the Fund as of December 31, 2023.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			Since Inception (May 19, 2020)
Six Circles Tax Aware Bond Fund		6.37	%		1.26	%

GROWTH OF $10,000 REPORT (05/19/2020 TO 12/31/2023)

LOGO

²⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.28% and 0.14% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on May 19, 2020.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Tax Aware Bond Fund and the Bloomberg 1-15 Year Municipal Bond Index from May 19, 2020 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg 1-15 Year Municipal Bond Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The Bloomberg 1-15 Year Municipal Bond Index consists of a broad selection of investment grade general obligation and revenue bonds of maturities ranging from one year to 17 years. Investors cannot invest directly in an index.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Credit Opportunities Fund (the “Fund”) seeks to provide total return. The Fund invests mainly in global fixed income opportunities, including below investment-grade debt, as well as other tactical credit opportunities.

INVESTMENT APPROACH

The Adviser currently engages the following Sub-Advisers:

•

BlackRock Investment Management, LLC (“BlackRock”)

•

Royal Bank of Canada Global Asset Management (UK) (“RBC GAM (UK)”)(a)

•

Lord Abbett & Co, LLC (“Lord Abbett”)

•

Muzinich & Co., Inc. (“Muzinich”)(a)

•

Pacific Investment Management Company LLC (“PIMCO”)

•

PGIM, Inc. (“PGIM”)

(a)	During the reporting period, the Fund has not allocated assets to these Sub-Advisers.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2023 through December 31, 2023, (the “reporting period”) the Fund posted a positive return on an

absolute basis, and outperformed relative to the Bloomberg U.S. Intermediate Corporate Bond Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, High Yield was the largest sector exposure in the Fund on a look-through basis and comprised approximately 85% of the Fund at the end of the reporting period. During the reporting period, this sector contributed to the Fund’s performance both on an absolute basis as well as relative to the Index.

Investment Grade Corporate Bonds was the largest sector underweight, with approximately 7% of the Fund’s exposure on a look-through basis at the end of the reporting period. During the reporting period, exposure to Investment Grade Corporate Bonds contributed to the Fund’s performance both on an absolute basis as well as relative to the Index.

On an allocation level, High Yield allocation managed by BlackRock was the largest contributor to the Fund’s return on an absolute basis during the reporting period.

During the reporting period, the Fund employed the tactical use of interest rate futures and credit default swaps to hedge exposure. The use of these derivatives detracted from the Fund’s performance.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to four Sub-Advisers across various sectors, credit ratings, maturity buckets, and regional exposures.


PORTFOLIO ALLOCATION***
High Yield (BlackRock)	47	%
High Yield (PGIM)	26
Asia High Yield (PIMCO)	21
Short Duration (Lord Abbett)	6

may differ from the adjusted net assets and the total return for financial reporting.

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Allocation to High Yield managed by BlackRock comprised approximately 47% of the Fund as of December 31, 2023. The Adviser believes that the allocation provides flexibility in the portfolio construction process for adjusting credit quality and sector allocations in response to market movements.

Allocation to High Yield managed by PGIM comprised approximately 26% of the Fund as of December 31, 2023. This allocation provides what the Adviser believes to be a broader market exposure, with potential ability to offer excess returns without taking large sector or credit rating bets.

Allocation to Asia High Yield managed by PIMCO comprised approximately 21% of the Fund as of December 31, 2023, and provides what the Adviser believes to be a more focused exposure to CCC or B-rated names.

Allocation to Short Duration managed by Lord Abbett comprised approximately 6% of the Fund as of December 31, 2023. The Adviser believes that this allocation provides a higher quality, shorter duration exposure and consists of investment grade and securitized bonds.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			Since Inception (August 19, 2020)
Six Circles Credit Opportunities Fund		9.56	%		1.79	%

GROWTH OF $10,000 REPORT (08/19/2020 TO 12/31/2023)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

²⁾	(0.06)% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Fund’s derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.80% and 0.29% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on August 19, 2020.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Credit Opportunities Fund and the Bloomberg U.S. Intermediate Corporate Bond Index from August 19, 2020 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. Intermediate Corporate Bond Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The Bloomberg U.S. Intermediate Corporate Total Return Bond Index measures the investment grade, fixed-rate, taxable corporate bond market whose maturity ranges between 1 to 9.9999 years. It includes USD denominated securities publicly issued by U.S. and non-U.S. industrial, utility and financial issuers. Investors cannot invest directly in an index.


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — 21.3%
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,200		1,176
AmeriCredit Automobile Receivables Trust, Series 2023-1, Class A2B, (United States 30 Day Average SOFR + 0.73%), 6.07%, 10/19/2026 (aa)		981		982
Anchorage Capital CLO Ltd., (Cayman Islands),
Series 2014-3RA, Class A, (CME Term SOFR 3 Month + 1.31%), 6.70%, 01/28/2031 (e) (aa)		943		942
Series 2015-7A, Class AR2, (CME Term SOFR 3 Month + 1.35%), 6.74%, 01/28/2031 (e) (aa)		1,389		1,372
AutoFlorence Srl, (Italy),
Series 2, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.58%, 12/24/2044 (aa)	EUR	456		503
Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 4.63%, 12/24/2044 (aa)	EUR	94		103
Series 3, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.95%), 4.83%, 12/25/2046 (aa)	EUR	1,000		1,108
Series 3, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 2.35%), 6.23%, 12/25/2046 (aa)	EUR	100		112
Autonoria Spain 2022 FT, (Spain),
Series 2022-SP, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.84%), 4.72%, 01/25/2040 (aa)	EUR	646		716
Series 2022-SP, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 2.00%), 5.88%, 01/26/2040 (aa)	EUR	81		90
Autonoria Spain 2023 FT, (Spain),
Series 2023-SP, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.58%, 09/30/2041 (aa)	EUR	700		774
Series 2023-SP, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.15%), 5.03%, 09/30/2041 (aa)	EUR	100		111
Azure Finance No. 3 plc, (United Kingdom), Series 3, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.80%), 6.00%, 06/20/2034 (aa)	GBP	327		418
BA Credit Card Trust,
Series 2021-A1, Class A1, 0.44%, 09/15/2026		2,180		2,148
Series 2022-A2, Class A2, 5.00%, 04/15/2028		1,485		1,494
Bank of America Auto Trust,
Series 2023-1A, Class A2, 5.83%, 05/15/2026 (e)		1,000		1,002
Series 2023-2A, Class A2, 5.85%, 08/17/2026 (e)		1,600		1,609


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Barings CLO Ltd. 2019-III, (Cayman Islands), Series 2019-3A, Class A1R, (CME Term SOFR 3 Month + 1.33%), 6.75%, 04/20/2031 (e) (aa)		250		250
Battalion CLO 18 Ltd., (Cayman Islands), Series 2020-18A, Class AR, (CME Term SOFR 3 Month + 1.46%), 6.86%, 10/15/2036 (e) (aa)		1,000		994
Bavarian Sky 5 plc, (United Kingdom), Series UK5, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.62%), 5.82%, 04/20/2031 (aa)	GBP	1,215		1,552
Benefit Street Partners CLO Ltd., (Cayman Islands), Series 2015-6BR, Class A, (CME Term SOFR 3 Month + 1.45%), 6.87%, 07/20/2034 (e) (aa)		1,000		998
Benefit Street Partners CLO VIII Ltd., (Cayman Islands), Series 2015-8A, Class A1AR, (CME Term SOFR 3 Month + 1.36%), 6.78%, 01/20/2031 (e) (aa)		845		845
BHG Securitization Trust, Series 2022-B, Class A, 3.75%, 06/18/2035 (e)		27		26
Birch Grove CLO Ltd., (Cayman Islands), Series 19A, Class AR, (CME Term SOFR 3 Month + 1.39%), 6.78%, 06/15/2031 (e) (aa)		1,659		1,655
BMW Canada Auto Trust, (Canada), Series 2023-1A, Class A1, 5.43%, 01/20/2026 (e)	CAD	560		422
BMW Vehicle Lease Trust, Series 2023-1, Class A2, 5.27%, 02/25/2025		260		259
BMW Vehicle Owner Trust, Series 2023-A, Class A2B, (United States 30 Day Average SOFR + 0.43%), 5.77%, 04/27/2026 (aa)		3,449		3,449
Bumper De SA, (Luxembourg), Series 2023-DE1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.58%), 4.46%, 08/23/2032 (aa)	EUR	600		663
Burnham Park CLO Ltd., (Cayman Islands), Series 2016-1A, Class AR, (CME Term SOFR 3 Month + 1.41%), 6.83%, 10/20/2029 (e) (aa)		244		244
Capital One Multi-Asset Execution Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.69%), 6.06%, 07/15/2027 (aa)		900		901
Series 2022-A1, Class A1, 2.80%, 03/15/2027		1,700		1,657
Series 2022-A2, Class A, 3.49%, 05/15/2027		500		491
CARDS II Trust, (Canada), Series 2023-2A, Class A, (United States SOFR + 0.85%), 6.21%, 07/15/2028 (e) (aa)		1,100		1,103


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — continued
CarMax Auto Owner Trust,
Series 2021-2, Class A3, 0.52%, 02/17/2026		424		415
Series 2022-4, Class A2A, 5.34%, 12/15/2025		308		308
Series 2022-4, Class A2B, (United States 30 Day Average SOFR + 0.90%), 6.24%, 12/15/2025 (aa)		440		441
Series 2023-4, Class A2A, 6.08%, 12/15/2026		1,300		1,310
Cars Alliance Auto Leases France V 2023-1, (France),
Series 2023-1FRV, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.65%), 4.50%, 10/21/2038 (aa)	EUR	900		996
Series 2023-1FRV, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.30%), 5.15%, 10/21/2038 (aa)	EUR	400		443
Carvana Auto Receivables Trust,
Series 2023-P4, Class A2, 6.23%, 01/11/2027 (e)		600		602
Series 2023-P5, Class A2, 5.77%, 04/12/2027 (e)		1,000		1,004
Chesapeake Funding II LLC, Series 2020-1A, Class A2, (United States 30 Day Average SOFR + 0.76%), 6.10%, 08/15/2032 (e) (aa)		96		96
CIFC Funding Ltd., (Cayman Islands), Series 2014-5A, Class A1R2, (CME Term SOFR 3 Month + 1.46%), 6.86%, 10/17/2031 (e) (aa)		1,000		999
Citibank Credit Card Issuance Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.73%), 6.09%, 04/22/2026 (aa)		900		901
Series 2018-A5, Class A5, (CME Term SOFR 1 Month + 0.72%), 6.08%, 08/07/2027 (aa)		900		903
Series 2023-A1, Class A1, 5.23%, 12/08/2027		1,600		1,612
Citizen Irish Auto Receivables Trust, (Ireland),
Series 2023-1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.77%), 4.62%, 12/15/2032 (aa)	EUR	655		725
Series 2023-1, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.40%), 5.25%, 12/15/2032 (aa)	EUR	121		134
CNH Equipment Trust, Series 2023-B, Class A2, 5.90%, 02/16/2027		600		604
Daimler Trucks Retail Trust, Series 2023-1, Class A2, 6.03%, 09/15/2025		500		501
Dell Equipment Finance Trust,
Series 2021-2, Class A3, 0.53%, 12/22/2026 (e)		139		138
Series 2023-2, Class A2, 5.84%, 01/22/2029 (e)		500		501


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Discover Card Execution Note Trust, Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.71%), 6.08%, 12/15/2026 (aa)		900		901
Dowson plc, (United Kingdom),
Series 2021-2, Class B, Reg. S, (SONIA Interest Rate Benchmark + 1.20%), 6.40%, 10/20/2028 (aa)	GBP	75		96
Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.92%), 6.12%, 01/20/2029 (aa)	GBP	72		92
Series 2022-2, Class B, Reg. S, (SONIA Interest Rate Benchmark + 2.70%), 7.90%, 08/20/2029 (aa)	GBP	500		641
Dryden 49 Senior Loan Fund, (Cayman Islands), Series 2017-49A, Class AR, (CME Term SOFR 3 Month + 1.21%), 6.61%, 07/18/2030 (e) (aa)		1,352		1,349
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e)		707		615
Enterprise Fleet Financing LLC, Series 2023-1, Class A2, 5.51%, 01/22/2029 (e)		795		796
FCT Autonoria DE 2023, (France),
Series 2023-DE, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.47%), 4.35%, 01/26/2043 (aa)	EUR	1,078		1,190
Series 2023-DE, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.15%), 5.03%, 01/26/2043 (aa)	EUR	270		298
Ford Auto Securitization Trust, (Canada), Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e)	CAD	348		259
Ford Credit Auto Lease Trust, Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.59%), 5.93%, 02/15/2026 (aa)		1,000		1,000
Ford Credit Auto Owner Trust,
Series 2022-B, Class A2A, 3.44%, 02/15/2025		214		213
Series 2022-D, Class A3, 5.27%, 05/17/2027		110		110
Series 2023-A, Class A2B, (United States 30 Day Average SOFR + 0.72%), 6.06%, 03/15/2026 (aa)		1,578		1,581
Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class A2, (United States 30 Day Average SOFR + 1.25%), 6.59%, 05/15/2028 (e) (aa)		1,290		1,299
FS Rialto Issuer LLC,
Series 2022-FL4, Class A, (United States 30 Day Average SOFR + 1.90%), 7.24%, 01/19/2039 (e) (aa)		483		474
Series 2022-FL6, Class A, (CME Term SOFR 1 Month + 2.58%), 7.94%, 08/17/2037 (e) (aa)		640		641


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — continued
Gilbert Park CLO Ltd., (Cayman Islands), Series 2017-1A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.85%, 10/15/2030 (e) (aa)		1,402		1,399
GM Financial Automobile Leasing Trust,
Series 2023-1, Class A2A, 5.27%, 06/20/2025		589		589
Series 2023-2, Class A2A, 5.44%, 10/20/2025		842		841
GM Financial Consumer Automobile Receivables Trust,
Series 2022-3, Class A2A, 3.50%, 09/16/2025		1,251		1,245
Series 2022-3, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.94%, 09/16/2025 (aa)		500		500
Series 2023-2, Class A2A, 5.10%, 05/18/2026		733		732
Series 2023-2, Class A2B, (United States 30 Day Average SOFR + 0.75%), 6.09%, 05/18/2026 (aa)		815		816
Series 2023-2, Class A3, 4.47%, 02/16/2028		429		426
Series 2023-3, Class A2B, (United States 30 Day Average SOFR + 0.47%), 5.81%, 09/16/2026 (aa)		2,928		2,930
Series 2023-4, Class A2A, 5.89%, 11/16/2026		900		905
GMF Canada Leasing Trust, (Canada), Series 2023-1A, Class A1, 5.46%, 04/21/2025 (e)	CAD	620		468
GMF Floorplan Owner Revolving Trust, Series 2019-2, Class A, 2.90%, 04/15/2026 (e)		1,700		1,686
Golden Bar Securitisation Srl, (Italy), Series 2023-2, Class B, Reg. S, (ICE LIBOR EUR 3 Month + 2.90%), 6.82%, 09/22/2043 (aa)	EUR	328		366
Hertz Vehicle Financing III LLC,
Series 2022-3A, Class A, 3.37%, 03/25/2025 (e)		50		50
Series 2023-1A, Class A, 5.49%, 06/25/2027 (e)		1,700		1,706
Honda Auto Receivables Owner Trust, Series 2022-2, Class A2, 3.81%, 03/18/2025		977		974
Hyundai Auto Lease Securitization Trust,
Series 2021-C, Class A3, 0.38%, 09/16/2024 (e)		99		98
Series 2023-A, Class A2A, 5.20%, 04/15/2025 (e)		571		571
Hyundai Auto Receivables Trust,
Series 2022-B, Class A2A, 3.64%, 05/15/2025		248		247
Series 2023-A, Class A2A, 5.19%, 12/15/2025		647		646
Series 2023-A, Class A3, 4.58%, 04/15/2027		500		497


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.48%), 5.82%, 05/15/2026 (aa)		1,987		1,990
John Deere Owner Trust, Series 2022-B, Class A2, 3.73%, 06/16/2025		248		247
Koromo Italy Srl, (Italy), Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.80%), 4.68%, 02/26/2035 (aa)	EUR	404		447
KREF Ltd., (Cayman Islands), Series 2022-FL3, Class A, (CME Term SOFR 1 Month + 1.45%), 6.81%, 02/17/2039 (e) (aa)		395		390
Lt Autorahoitus IV DAC, (Ireland), Series 4, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.69%), 4.53%, 07/18/2033 (aa)	EUR	504		558
M&T Equipment Notes, Series 2023-1A, Class A2, 6.09%, 07/15/2030 (e)		700		702
Madison Park Funding XXXIII Ltd., (Cayman Islands), Series 2019-33A, Class AR, (CME Term SOFR 3 Month + 1.29%), 6.68%, 10/15/2032 (e) (aa)		250		249
Master Credit Card Trust II, (Canada), Series 2023-1A, Class A, 4.70%, 06/21/2027 (e)		600		598
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e)		1,500		1,471
Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A2, 5.92%, 11/16/2026		1,200		1,209
Navient Private Education Loan Trust,
Series 2017-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.38%, 12/16/2058 (e) (aa)		14		15
Series 2018-BX, Class A2B, Reg. S, (CME Term SOFR 1 Month + 0.83%), 6.20%, 12/15/2059 (aa)		394		391
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.38%, 11/15/2068 (e) (aa)		584		575
Navient Private Education Refi Loan Trust,
Series 2019-D, Class A2B, (CME Term SOFR 1 Month + 1.16%), 6.53%, 12/15/2059 (e) (aa)		276		274
Series 2019-GA, Class A, 2.40%, 10/15/2068 (e)		140		131
Series 2021-DA, Class A, (Prime Rate -1.99%), 6.51%, 04/15/2060 (e) (aa)		336		323
Navient Student Loan Trust, Series 2019-BA, Class A2B, (CME Term SOFR 1 Month + 1.09%), 6.46%, 12/15/2059 (e) (aa)		197		195
Nelnet Student Loan Trust,
Series 2019-2A, Class A, (United States 30 Day Average SOFR + 1.01%), 6.35%, 06/27/2067 (e) (aa)		669		663
Series 2021-CA, Class AFL, (CME Term SOFR 1 Month + 0.85%), 6.21%, 04/20/2062 (e) (aa)		828		814


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — continued
Neuberger Berman Loan Advisers CLO 26 Ltd., (Cayman Islands), Series 2017-26A, Class AR, (CME Term SOFR 3 Month + 1.18%), 6.58%, 10/18/2030 (e) (aa)		1,828		1,822
OneMain Direct Auto Receivables Trust, Series 2022-1A, Class A2, (United States 30 Day Average SOFR + 1.60%), 6.94%, 03/14/2029 (e) (aa)		835		838
OneMain Financial Issuance Trust, Series 2023-2A, Class A2, (United States 30 Day Average SOFR + 1.50%), 6.84%, 09/15/2036 (e) (aa)		1,652		1,660
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e)		57		57
Palmer Square CLO 2018-3 Ltd., (Cayman Islands), Series 2013-2A, Class A1A3, (CME Term SOFR 3 Month + 1.26%), 6.66%, 10/17/2031 (e) (aa)		250		249
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (CME Term SOFR 1 Month + 0.91%), 6.27%, 07/25/2035 (aa)		360		355
Pawnee Equipment Receivables LLC,
Series 2021-1, Class A2, 1.10%, 07/15/2027 (e)		315		307
Series 2022-1, Class A2, 4.84%, 02/15/2028 (e)		168		168
PCL Funding VI plc, (United Kingdom), Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.40%), 6.60%, 07/15/2026 (aa)	GBP	723		923
PRET LLC,
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e)		601		579
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e)		287		283
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e)		203		199
Prodigy Finance DAC, (Ireland), Series 2021-1A, Class A, (CME Term SOFR 1 Month + 1.36%), 6.72%, 07/25/2051 (e) (aa)		63		63
Red & Black Auto Germany UG, (Germany),
Series 8, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 4.58%, 09/15/2030 (aa)	EUR	133		146
Series 10, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.20%), 5.03%, 09/15/2032 (aa)	EUR	100		111
Red & Black Auto Italy Srl, (Italy),
Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.57%, 12/28/2031 (aa)	EUR	582		642
Series 2, Class A1, Reg. S, (ICE LIBOR EUR 1 Month + 1.00%), 4.87%, 07/28/2034 (aa)	EUR	798		884


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.80%), 5.67%, 07/28/2034 (aa)	EUR	112		124
Rockford Tower CLO 2017-3 Ltd., (Cayman Islands), Series 2017-3A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.87%, 10/20/2030 (e) (aa)		217		217
RR 3 Ltd., (Cayman Islands), Series 2018-3A, Class A1R2, (CME Term SOFR 3 Month + 1.35%), 6.75%, 01/15/2030 (e) (aa)		804		803
Santander Drive Auto Receivables Trust, Series 2023-4, Class A2, 6.18%, 02/16/2027		3,869		3,879
SC Germany SA Compartment Consumer, (Luxembourg), Series 2020-1, Class C, Reg. S, (ICE LIBOR EUR 1 Month + 1.75%), 5.61%, 11/14/2034 (aa)	EUR	170		188
SLM Student Loan Trust, Series 2004-10, Class A7B, (United States 90 Day Average SOFR + 0.86%), 6.20%, 10/25/2029 (e) (aa)		382		382
SMB Private Education Loan Trust,
Series 2016-B, Class A2B, (CME Term SOFR 1 Month + 1.56%), 6.93%, 02/17/2032 (e) (aa)		247		247
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e)		169		166
Series 2017-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.38%, 09/15/2034 (e) (aa)		658		656
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 0.94%), 6.31%, 09/15/2037 (e) (aa)		461		455
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e)		351		316
Series 2021-A, Class A2A1, (CME Term SOFR 1 Month + 0.84%), 6.21%, 01/15/2053 (e) (aa)		1,606		1,578
Series 2021-D, Class A1B, (CME Term SOFR 1 Month + 0.71%), 6.08%, 03/17/2053 (e) (aa)		172		168
Series 2022-B, Class A1B, (United States 30 Day Average SOFR + 1.45%), 6.79%, 02/16/2055 (e) (aa)		1,532		1,529
Series 2022-C, Class A1B, (United States 30 Day Average SOFR + 1.85%), 7.19%, 05/16/2050 (e) (aa)		224		225
Series 2022-D, Class A1B, (United States 30 Day Average SOFR + 1.80%), 7.14%, 10/15/2058 (e) (aa)		2,290		2,307
Series 2023-A, Class A1A, 5.38%, 01/15/2053 (e)		174		174
Symphony CLO XXIV Ltd., (Cayman Islands), Series 2020-24A, Class A, (CME Term SOFR 3 Month + 1.46%), 6.87%, 01/23/2032 (e) (aa)		700		698


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — continued
Synchrony Card Funding LLC, Series 2023-A1, Class A, 5.54%, 07/15/2029		1,000		1,019
TAGUS — Sociedade de Titularizacao de Creditos SA / Viriato Finance No. 1, (Portugal), Series 1, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.95%), 4.83%, 10/28/2040 (aa)	EUR	316		340
TCI-Symphony CLO 2016-1 Ltd., (Cayman Islands), Series 2016-1A, Class AR2, (CME Term SOFR 3 Month + 1.28%), 6.68%, 10/13/2032 (e) (aa)		265		264
Tesla Auto Lease Trust, Series 2023-B, Class A2, 6.02%, 09/22/2025 (e)		500		502
Towd Point Asset Trust, Series 2021-SL1, Class A2, (CME Term SOFR 1 Month + 0.81%), 6.17%, 11/20/2061 (e) (aa)		143		140
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e)		1,500		1,424
Toyota Auto Receivables Owner Trust,
Series 2022-C, Class A2A, 3.83%, 08/15/2025		586		584
Series 2022-C, Class A2B, (United States 30 Day Average SOFR + 0.57%), 5.91%, 08/15/2025 (aa)		782		782
Series 2022-C, Class A3, 3.76%, 04/15/2027		800		786
Series 2023-C, Class A2A, 5.60%, 08/17/2026		500		501
Toyota Lease Owner Trust, Series 2023-B, Class A2A, 5.73%, 04/20/2026 (e)		1,100		1,105
Trillium Credit Card Trust II, (Canada), Series 2023-3A, Class A, (United States SOFR + 0.85%), 6.24%, 08/26/2028 (e) (aa)		1,700		1,706
Venture XVIII CLO Ltd., (Cayman Islands), Series 2014-18A, Class AR, (CME Term SOFR 3 Month + 1.48%), 6.88%, 10/15/2029 (e) (aa)		764		763
Volkswagen Auto Lease Trust,
Series 2022-A, Class A2, 3.02%, 10/21/2024		25		25
Series 2023-A, Class A2A, 5.87%, 01/20/2026		800		804
Volkswagen Auto Loan Enhanced Trust,
Series 2023-1, Class A2A, 5.50%, 12/21/2026		988		989
Series 2023-2, Class A2A, 5.72%, 03/22/2027		1,500		1,509
Series 2023-2, Class A2B, (United States 30 Day Average SOFR + 0.63%), 5.97%, 03/22/2027 (aa)		4,110		4,117
Voya CLO 2018-3 Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (CME Term SOFR 3 Month + 1.41%), 6.81%, 10/15/2031 (e) (aa)		1,150		1,146


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

VOYA CLO 2017-2, (Cayman Islands), Series 2017-2A, Class A1R, (CME Term SOFR 3 Month + 1.24%), 6.64%, 06/07/2030 (e) (aa)		190		190
Wind River CLO Ltd., (Cayman Islands), Series 2013-1A, Class A1RR, (CME Term SOFR 3 Month + 1.24%), 6.66%, 07/20/2030 (e) (aa)		114		114
World Omni Auto Receivables Trust,
Series 2023-A, Class A2A, 5.18%, 07/15/2026		491		490
Series 2023-B, Class A2A, 5.25%, 11/16/2026		858		856

Total Asset-Backed Securities (Cost $126,578)				126,845

Collateralized Mortgage Obligations — 3.6%
Avon Finance, (United Kingdom), Series 4A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 12/28/2049 (e) (aa)	GBP	757		963
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 08/20/2045 (aa)	GBP	372		473
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z)		286		278
Dutch Property Finance BV, (Netherlands), Series 2022-1, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 4.70%, 10/28/2059 (aa)	EUR	747		823
Economic Master Issuer plc, (United Kingdom), Series 2023-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.56%), 5.76%, 06/25/2074 (aa)	GBP	273		349
FNMA REMICS,
Series 2020-29, Class FC, (United States 30 Day Average SOFR + 0.91%), 5.48%, 05/25/2050 (aa)		1,310		1,297
Series 2022-8, Class D, 2.00%, 08/25/2038		1,243		1,134
Friary No. 7 plc, (United Kingdom), Series 7, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.67%), 5.89%, 10/21/2070 (aa)	GBP	212		272
GNMA,
Series 2015-H04, Class FA, (CME Term SOFR 1 Month + 0.76%), 6.09%, 12/20/2064 (aa)		984		976
Series 2017-121, Class PE, 3.00%, 07/20/2046		135		128
Series 2018-H18, Class FC, (CME Term SOFR 1 Month + 0.46%), 5.79%, 08/20/2065 (aa)		536		533
Series 2019-54, Class KF, (CME Term SOFR 1 Month + 0.53%), 5.88%, 05/20/2044 (aa)		305		292


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Collateralized Mortgage Obligations — continued
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 6.84%, 06/20/2071 (aa)		1,389		1,388
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 3.50%, 01/20/2052 (aa)		872		767
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 5.69%, 01/20/2072 (aa)		687		657
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.24%, 01/20/2073 (aa)		513		510
Series 2023-H12, Class FA, (United States 30 Day Average SOFR + 1.00%), 6.34%, 05/20/2073 (aa)		1,718		1,718
Series 2023-H26, Class DF, (United States 30 Day Average SOFR + 0.30%), 5.64%, 09/20/2073 (aa)		1,662		1,645
Series 2023-H27, Class FD, (United States 30 Day Average SOFR + 1.10%), 6.44%, 11/20/2073 (aa)		502		506
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z)		280		256
Holmes Master Issuer plc, (United Kingdom), Series 2023-1X, Class A1, Reg. S, (SONIA Interest Rate Benchmark + 0.58%), 5.80%, 10/15/2072 (aa)	GBP	666		852
Hops Hill No. 1 plc, (United Kingdom), Series 1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.95%), 6.15%, 05/27/2054 (aa)	GBP	378		482
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e)		1,106		1,064
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z)		325		287
New Residential Mortgage Loan Trust,
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z)		99		96
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z)		272		248
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z)		441		401
Resimac Bastille Trust, (Australia), Series 2021-2NCA, Class A1A, (CME Term SOFR 1 Month + 0.76%), 6.11%, 02/03/2053 (e) (aa)		161		160
Silverstone Master Issuer plc, (United Kingdom),
Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 5.75%, 01/21/2070 (e) (aa)		480		479
Series 2022-1X, Class 2A, Reg. S, (SONIA Interest Rate Benchmark + 0.29%), 5.51%, 01/21/2070 (aa)	GBP	550		699


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Starwood Mortgage Residential Trust,
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z)		171		159
Series 2020-INV1, Class A1, 1.03%, 11/25/2055 (e) (z)		104		94
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z)		229		206
Stratton Mortgage Funding, (United Kingdom), Series 2021-2A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 07/20/2060 (e) (aa)	GBP	116		148
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 1.35%), 6.57%, 07/20/2045 (e) (aa)	GBP	468		597
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (CME Term SOFR 1 Month + 1.11%), 6.47%, 05/25/2058 (e) (aa)		232		236

Total Collateralized Mortgage Obligations (Cost $21,700)				21,173

Commercial Mortgage-Backed Securities — 4.0%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (CME Term SOFR 1 Month + 1.18%), 6.54%, 09/15/2034 (e) (aa)		500		480
AREIT Trust, (Cayman Islands), Series 2021-CRE5, Class A, (CME Term SOFR 1 Month + 1.19%), 6.55%, 11/17/2038 (e) (aa)		465		452
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (CME Term SOFR 1 Month + 1.17%), 6.53%, 06/15/2035 (e) (aa)		211		208
BAMLL Commercial Mortgage Securities Trust,
Series 2018-DSNY, Class A, (CME Term SOFR 1 Month + 1.15%), 6.51%, 09/15/2034 (e) (aa)		853		849
Series 2019-RLJ, Class A, (CME Term SOFR 1 Month + 1.10%), 6.46%, 04/15/2036 (e) (aa)		400		398
BDS LLC, Series 2022-FL12, Class A, (CME Term SOFR 1 Month + 2.14%), 7.49%, 08/19/2038 (e) (aa)		700		696
Beast Mortgage Trust, Series 2021-SSCP, Class A, (CME Term SOFR 1 Month + 0.86%), 6.23%, 04/15/2036 (e) (aa)		600		588
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.73%, 09/15/2036 (e) (aa)		500		466
BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, (CME Term SOFR 1 Month + 2.11%), 7.48%, 06/15/2027 (e) (aa)		800		802
CEDR Commercial Mortgage Trust, Series 2022-SNAI, Class A, (CME Term SOFR 1 Month + 0.99%), 6.35%, 02/15/2039 (e) (aa)		530		489
CENT Trust, Series 2023-CITY, Class A, (CME Term SOFR 1 Month + 2.62%), 7.98%, 09/15/2038 (e) (aa)		410		412


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Commercial Mortgage-Backed Securities — continued
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058		506		493
Citigroup Commercial Mortgage Trust,
Series 2019-SMRT, Class A, 4.15%, 01/10/2036 (e)		1,595		1,592
Series 2021-KEYS, Class A, (CME Term SOFR 1 Month + 1.29%), 6.66%, 10/15/2036 (e) (aa)		900		884
COMM Mortgage Trust,
Series 2014-UBS3, Class A4, 3.82%, 06/10/2047		1,600		1,583
Series 2015-LC19, Class ASB, 3.04%, 02/10/2048		109		107
CSMC,
Series 2021-BHAR, Class A, (CME Term SOFR 1 Month + 1.26%), 6.63%, 11/15/2038 (e) (aa)		974		962
Series 2022-NWPT, Class A, (CME Term SOFR 1 Month + 3.14%), 8.50%, 09/09/2024 (e) (aa)		116		118
DBGS Mortgage Trust, Series 2018-BIOD, Class A, (CME Term SOFR 1 Month + 1.10%), 6.46%, 05/15/2035 (e) (aa)		1,188		1,179
ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class A, (CME Term SOFR 1 Month + 2.25%), 7.61%, 10/15/2039 (e) (aa)		480		478
INTOWN Mortgage Trust, Series 2022-STAY, Class A, (CME Term SOFR 1 Month + 2.49%), 7.85%, 08/15/2039 (e) (aa)		1,250		1,254
Life Mortgage Trust, Series 2021-BMR, Class A, (CME Term SOFR 1 Month + 0.81%), 6.18%, 03/15/2038 (e) (aa)		295		288
LUX, Series 2023-LION, Class A, (CME Term SOFR 1 Month + 2.69%), 8.05%, 08/15/2040 (e) (aa)		185		187
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 6.43%, 12/15/2034 (e) (aa)		1,130		1,102
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (CME Term SOFR 1 Month + 1.11%), 6.48%, 05/15/2036 (e) (aa)		700		643
MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, (CME Term SOFR 1 Month + 1.40%), 6.77%, 03/15/2039 (e) (aa)		1,100		1,072
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 7.19%, 03/15/2035 (e) (aa)		719		712
Sage AR Funding No. 1 plc, (United Kingdom), Series 1A, Class A, (SONIA Interest Rate Benchmark + 1.25%), 6.47%, 11/17/2030 (e) (aa)	GBP	800		1,009
SMRT, Series 2022-MINI, Class A, (CME Term SOFR 1 Month + 1.00%), 6.36%, 01/15/2039 (e) (aa)		350		343


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

SREIT Trust, Series 2021-IND, Class A, (CME Term SOFR 1 Month + 0.81%), 6.18%, 10/15/2038 (e) (aa)		900		882
Taubman Centers Commercial Mortgage Trust, Series 2022-DPM, Class A, (CME Term SOFR 1 Month + 2.19%), 7.55%, 05/15/2037 (e) (aa)		745		741
Taurus DAC, (Ireland), Series 2019-UK2, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.32%), 6.54%, 11/17/2029 (aa)	GBP	950		1,201
Vita Scientia DAC, (Ireland), Series 2022-1X, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 1.30%), 5.26%, 02/27/2033 (aa)	EUR	1,000		1,073
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS2, Class A2, 3.02%, 07/15/2058		98		95

Total Commercial Mortgage-Backed Securities (Cost $24,222)				23,838

Corporate Bonds — 47.9%
Communications — 4.3%
Media — 1.0%
Charter Communications Operating LLC / Charter Communications Operating Capital, 4.50%, 02/01/2024		2,000		1,997
(CME Term SOFR 3 Month + 1.91%), 7.29%, 02/01/2024 (aa)		4,000		4,000


				5,997

Telecommunications — 3.3%
AT&T, Inc., (CME Term SOFR 3 Month + 1.44%), 6.81%, 06/12/2024 (aa)		4,000		4,014
NTT Finance Corp., (Japan),
1.16%, 04/03/2026 (e)		2,345		2,164
4.14%, 07/26/2024 (e)		370		367
Rogers Communications, Inc., (Canada), 2.95%, 03/15/2025		3,750		3,639
Sprint LLC, 7.63%, 03/01/2026		2,000		2,088
T-Mobile USA, Inc., 2.63%, 04/15/2026		2,300		2,188
Verizon Communications, Inc., (SOFR Compounded Index + 0.50%), 5.93%, 03/22/2024 (aa)		5,000		5,002


				19,462

Total Communications				25,459

Consumer Cyclical — 5.8%
Auto Manufacturers — 5.0%
American Honda Finance Corp.,
0.55%, 07/12/2024		1,070		1,043
(SOFR Compounded Index + 0.78%), 6.16%, 04/23/2025 (aa)		2,724		2,730
BMW US Capital LLC,
(SOFR Compounded Index + 0.38%), 5.78%, 08/12/2024 (e) (aa)		2,130		2,132
(SOFR Compounded Index + 0.84%), 6.28%, 04/01/2025 (e) (aa)		1,100		1,105


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Auto Manufacturers — continued
Daimler Truck Finance North America LLC, 5.20%, 01/17/2025 (e)		2,000		1,999
Ford Motor Credit Co. LLC,
2.30%, 02/10/2025		400		385
2.70%, 08/10/2026		1,150		1,065
General Motors Financial Co., Inc.,
1.05%, 03/08/2024		2,059		2,041
3.50%, 11/07/2024		2,000		1,963
(United States SOFR + 0.76%), 6.18%, 03/08/2024 (aa)		1,000		1,000
Hyundai Capital America,
1.00%, 09/17/2024 (e)		3,025		2,928
(United States SOFR + 1.15%), 6.54%, 08/04/2025 (e) (aa)		1,100		1,099
Mercedes-Benz Finance North America LLC, 0.75%, 03/01/2024 (e)		3,750		3,720
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e)		2,600		2,508
Toyota Motor Credit Corp.,
(SOFR Compounded Index + 0.33%), 5.70%, 01/11/2024 (aa)		2,000		2,000
(United States SOFR + 0.65%), 6.07%, 09/11/2025 (aa)		1,000		1,002
Volkswagen Group of America Finance LLC,
5.80%, 09/12/2025 (e)		221		223
(United States SOFR + 0.93%), 6.35%, 09/12/2025 (e) (aa)		1,000		1,002


				29,945

Home Builders — 0.1%
Lennar Corp., 4.50%, 04/30/2024		500		497

Lodging — 0.1%
Hyatt Hotels Corp., 1.80%, 10/01/2024		500		485

Retail — 0.6%
7-Eleven, Inc., 0.80%, 02/10/2024 (e)		3,674		3,653

Total Consumer Cyclical				34,580

Consumer Non-cyclical — 6.0%
Agriculture — 0.5%
Altria Group, Inc., 3.80%, 02/14/2024		1,500		1,495
BAT Capital Corp., 3.22%, 08/15/2024		580		571
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e)		1,100		1,082


				3,148

Beverages — 0.2%
JDE Peet’s NV, (Netherlands), 0.80%, 09/24/2024 (e)		400		385
Keurig Dr Pepper, Inc., 0.75%, 03/15/2024		1,000		990


				1,375

Biotechnology — 1.1%
Amgen, Inc., 5.25%, 03/02/2025		2,935		2,942
Gilead Sciences, Inc., 3.70%, 04/01/2024		3,500		3,483


				6,425


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Commercial Services — 0.7%
Global Payments, Inc.,
1.20%, 03/01/2026		2,500		2,298
1.50%, 11/15/2024		1,500		1,446
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 6.41%, 12/16/2024 (aa)	AUD	700		480


				4,224

Cosmetics/Personal Care — 0.3%
Haleon US Capital LLC, 3.02%, 03/24/2024		1,800		1,789


Food — 0.6%
General Mills, Inc., 3.65%, 02/15/2024		2,345		2,338
J M Smucker Co. (The), 3.50%, 03/15/2025		1,000		981


				3,319

Healthcare — Products — 0.3%
Baxter International, Inc., 1.32%, 11/29/2024		800		770
Thermo Fisher Scientific, Inc., 1.22%, 10/18/2024		850		823


				1,593

Healthcare — Services — 0.9%
HCA, Inc., 5.00%, 03/15/2024		3,800		3,793
Roche Holdings, Inc., 2.63%, 05/15/2026 (e)		1,866		1,789


				5,582

Pharmaceuticals — 1.4%
AbbVie, Inc.,
2.60%, 11/21/2024		6,000		5,861
3.60%, 05/14/2025		1,000		981
Pfizer Investment Enterprises Pte Ltd., (Singapore), 4.65%, 05/19/2025		1,600		1,595


				8,437

Total Consumer Non-cyclical				35,892

Energy — 1.8%
Oil & Gas — 0.3%
Phillips 66, 0.90%, 02/15/2024		1,800		1,789


Pipelines — 1.5%
Enbridge, Inc., (Canada), 2.15%, 02/16/2024		720		717
ONEOK, Inc., 5.55%, 11/01/2026		1,500		1,526
Sabine Pass Liquefaction LLC, 5.63%, 03/01/2025		2,900		2,906
Williams Cos., Inc. (The),
4.30%, 03/04/2024		1,500		1,496
4.55%, 06/24/2024		2,000		1,989


				8,634

Total Energy				10,423


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Financial — 19.2%
Banks — 16.1%
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024		1,000		967
Australia & New Zealand Banking Group Ltd., (Australia), 5.67%, 10/03/2025		2,067		2,101
Banco Santander SA, (Spain), 3.89%, 05/24/2024		500		496
(CMT Index 1 Year + 0.45%), 5.74%, 06/30/2024 (aa)		400		400
Bank of America Corp.,
(Canada Bankers Acceptances 3 Month + 0.90%), 2.93%, 04/25/2025 (aa)	CAD	1,400		1,047
(United States SOFR + 1.75%), 4.83%, 07/22/2026 (aa)		4,000		3,970
(United States SOFR + 1.29%), 5.08%, 01/20/2027 (aa)		1,300		1,298
(United States SOFR + 1.10%), 6.48%, 04/25/2025 (aa)		600		601
Bank of Montreal, (Canada), Series H, 4.25%, 09/14/2024		2,000		1,981
Bank of Nova Scotia (The), (Canada), Series FRN, (SOFR Compounded Index + 0.45%), 5.81%, 04/15/2024 (aa)		500		500
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 1.00%, 02/04/2025		500		477
5.90%, 07/13/2026 (e)		1,300		1,328
Barclays plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		700		695
BNP Paribas SA, (France), (CME Term SOFR 3 Month + 2.50%), 4.71%, 01/10/2025 (e) (aa)		800		800
BPCE SA, (France), 4.00%, 04/15/2024		700		697
Reg. S, (United States SOFR + 0.57%), 5.94%, 01/14/2025 (aa)		700		698
(United States SOFR + 0.96%), 6.39%, 09/25/2025 (e) (aa)		2,140		2,144
Citibank NA, 5.86%, 09/29/2025		2,068		2,103
(SOFR Compounded Index + 1.06%), 6.47%, 12/04/2026 (aa)		800		801
Citigroup, Inc.,
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa)		4,250		4,084
(United States SOFR + 1.37%), 6.78%, 05/24/2025 (aa)		2,000		2,005
Credit Suisse AG, (Switzerland),
0.50%, 02/02/2024		2,700		2,688
3.63%, 09/09/2024		300		296
3.70%, 02/21/2025		1,500		1,469
(SOFR Compounded Index + 0.39%), 5.78%, 02/02/2024 (aa)		500		500
Danske Bank A / S, (Denmark), Reg. S, 5.38%, 01/12/2024		1,200		1,200


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Banks — continued
Deutsche Bank AG, (Germany),
0.90%, 05/28/2024		2,100		2,062
(United States SOFR + 1.13%), 1.45%, 04/01/2025 (aa)		1,700		1,680
3.70%, 05/30/2024		1,700		1,682
DNB Bank ASA, (Norway), (SOFR Compounded Index + 0.83%), 6.27%, 03/28/2025 (e) (aa)		1,295		1,296
Federation des Caisses Desjardins du Quebec, (Canada),
0.70%, 05/21/2024 (e)		1,000		981
2.05%, 02/10/2025 (e)		500		482
(United States SOFR + 0.43%), 5.83%, 05/21/2024 (e) (aa)		1,900		1,900
First Abu Dhabi Bank PJSC, (United Arab Emirates), (BBSW ASX Australian 3 Month + 1.10%), 5.48%, 02/18/2025 (aa)	AUD	700		476
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.73%), 1.76%, 01/24/2025 (aa)		2,000		1,993
5.70%, 11/01/2024		2,000		2,005
(United States SOFR + 0.49%), 5.87%, 10/21/2024 (aa)		900		899
(United States SOFR + 0.50%), 5.92%, 09/10/2024 (aa)		2,500		2,497
(United States SOFR + 1.39%), 6.81%, 03/15/2024 (aa)		800		801
HSBC Holdings plc, (United Kingdom),
(CME Term SOFR 3 Month + 1.47%), 3.80%, 03/11/2025 (aa)		400		398
(CME Term SOFR 3 Month + 1.49%), 6.86%, 03/11/2025 (aa)		1,000		1,002
HSBC USA, Inc., 5.63%, 03/17/2025		1,500		1,507
ING Groep NV, (Netherlands),
3.55%, 04/09/2024		700		696
(SOFR Compounded Index + 1.64%), 7.08%, 03/28/2026 (aa)		1,000		1,006
Lloyds Banking Group plc, (United Kingdom), 4.45%, 05/08/2025		1,800		1,778
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		700		698
(United States SOFR + 0.94%), 6.34%, 02/20/2026 (aa)		1,000		1,000
(United States SOFR + 1.65%), 7.02%, 07/18/2025 (aa)		1,300		1,305
Mizuho Financial Group, Inc., (Japan), (CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa)		800		788
Morgan Stanley,
(United States SOFR + 0.51%), 0.79%, 01/22/2025 (aa)		500		499
(United States SOFR + 0.56%), 1.16%, 10/21/2025 (aa)		1,400		1,347
Morgan Stanley Bank NA, 5.88%, 10/30/2026		1,465		1,507


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Banks — continued
NatWest Group plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.76%), 4.27%, 03/22/2025 (aa)		725		723
NatWest Markets plc, (United Kingdom), 3.48%, 03/22/2025 (e)		1,825		1,788
Nordea Bank Abp, (Finland), (United States SOFR + 0.96%), 6.38%, 06/06/2025 (e) (aa)		500		502
Oversea-Chinese Banking Corp. Ltd., (Singapore),
(BBSW ASX Australian 3 Month + 0.26%), 4.68%, 08/12/2024 (aa)	AUD	1,000		681
(BBSW ASX Australian 3 Month + 0.35%), 4.71%, 03/18/2024 (f) (aa)	AUD	1,000		681
Royal Bank of Canada, (Canada),
5.66%, 10/25/2024		980		982
(SOFR Compounded Index + 1.08%), 6.46%, 07/20/2026 (aa)		2,000		2,000
Skandinaviska Enskilda Banken AB, (Sweden), 1.40%, 11/19/2025 (e)		1,900		1,777
Societe Generale SA, (France),
2.63%, 01/22/2025 (e)		800		775
3.88%, 03/28/2024 (e)		700		697
Standard Chartered plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa)		1,600		1,586
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 5.40%, 10/16/2024 (aa)	AUD	2,300		1,570
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e)		200		193
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e)		2,400		2,447
Toronto-Dominion Bank (The), (Canada),
3.25%, 03/11/2024		1,200		1,195
4.29%, 09/13/2024		2,000		1,983
UBS AG, (Switzerland),
Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 5.21%, 07/30/2025 (aa)	AUD	2,100		1,427
(United States SOFR + 0.36%), 5.75%, 02/09/2024 (e) (aa)		1,000		1,000
(United States SOFR + 0.45%), 5.84%, 08/09/2024 (e) (aa)		1,615		1,618
Wells Fargo & Co., (CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa)		1,500		1,459
Wells Fargo Bank NA, (United States SOFR + 0.80%), 6.19%, 08/01/2025 (aa)		2,620		2,627


				95,342

Diversified Financial Services — 2.6%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
1.65%, 10/29/2024		200		193
4.88%, 01/16/2024		3,500		3,498
American Express Co.,
3.40%, 02/22/2024		2,000		1,998


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Diversified Financial Services — continued
(United States SOFR + 0.93%), 6.34%, 03/04/2025 (aa)		1,120		1,123
Avolon Holdings Funding Ltd., (Cayman Islands),
3.95%, 07/01/2024 (e)		500		493
5.25%, 05/15/2024 (e)		400		398
Capital One Financial Corp., (United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa)		2,700		2,680
Mitsubishi HC Capital, Inc., (Japan), 3.64%, 04/13/2025 (e)		300		293
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025		1,900		1,799
ORIX Corp., (Japan), 3.25%, 12/04/2024		400		392
Synchrony Financial, 4.38%, 03/19/2024		2,750		2,740


				15,607

Insurance — 0.4%
Marsh & McLennan Cos., Inc., 3.88%, 03/15/2024		713		710
New York Life Global Funding, 5.45%, 09/18/2026 (e)		2,000		2,045


				2,755

Savings & Loans — 0.1%
Nationwide Building Society, (United Kingdom), 0.55%, 01/22/2024 (e)		400		399

Total Financial				114,103

Industrial — 5.2%
Aerospace/Defense — 1.8%
Boeing Co. (The),
1.43%, 02/04/2024		3,600		3,585
1.95%, 02/01/2024		3,000		2,990
Northrop Grumman Corp., 2.93%, 01/15/2025		2,000		1,954
RTX Corp., 2.65%, 11/01/2026		2,000		1,893


				10,422

Electronics — 0.3%
Arrow Electronics, Inc., 3.25%, 09/08/2024		1,800		1,768

Machinery — Construction & Mining — 0.3%
Caterpillar Financial Services Corp., (United States SOFR + 0.52%), 5.94%, 06/13/2025 (aa)		2,000		2,004


Machinery — Diversified — 0.4%
John Deere Capital Corp., 5.15%, 03/03/2025		2,600		2,614

Miscellaneous Manufacturers — 1.0%
3M Co., (CME Term SOFR 3 Month + 0.56%), 5.94%, 02/14/2024 (aa)		700		700
Parker-Hannifin Corp., 3.65%, 06/15/2024		5,100		5,051


				5,751


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Transportation — 1.1%
Canadian Pacific Railway Co., (Canada), 1.35%, 12/02/2024		3,540		3,410
Ryder System, Inc., 3.65%, 03/18/2024		1,000		995
Union Pacific Corp., 3.15%, 03/01/2024		2,000		1,991


				6,396

Trucking & Leasing — 0.3%
Penske Truck Leasing Co. LP / PTL Finance Corp., 3.90%, 02/01/2024 (e)		2,000		1,996

Total Industrial				30,951

Technology — 3.1%
Semiconductors — 1.5%
Broadcom Corp. / Broadcom Cayman Finance Ltd., (Multinational), 3.63%, 01/15/2024		2,000		1,998
Broadcom, Inc., 3.63%, 10/15/2024		1,000		986
NXP BV / NXP Funding LLC, (Multinational), 4.88%, 03/01/2024		4,600		4,591
SK Hynix, Inc., (South Korea),
1.00%, 01/19/2024 (e)		400		399
Reg. S, 1.00%, 01/19/2024		1,300		1,298


				9,272

Software — 1.6%
Fidelity National Information Services, Inc., 0.60%, 03/01/2024		2,865		2,840
Fiserv, Inc., 2.75%, 07/01/2024		1,500		1,477
Oracle Corp.,
2.95%, 11/15/2024		1,000		977
2.95%, 05/15/2025		1,000		971
3.40%, 07/08/2024		1,625		1,606
VMware LLC, 1.00%, 08/15/2024		1,500		1,457


				9,328

Total Technology				18,600

Utilities — 2.5%
Electric — 2.5%
American Electric Power Co., Inc., 2.03%, 03/15/2024		600		595
Ausgrid Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 1.22%), 5.56%, 10/30/2024 (aa)	AUD	1,500		1,024
Black Hills Corp., 1.04%, 08/23/2024		1,500		1,456
Enel Finance International NV, (Netherlands),
2.65%, 09/10/2024 (e)		1,500		1,464
4.25%, 06/15/2025 (e)		300		296
Israel Electric Corp. Ltd., (Israel), Series 6, Reg. S, 5.00%, 11/12/2024 (e)		800		788
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024		1,740		1,703
NextEra Energy Capital Holdings, Inc.,
2.94%, 03/21/2024		4,000		3,974
4.26%, 09/01/2024		1,175		1,163
Pacific Gas and Electric Co.,
3.40%, 08/15/2024		100		98
3.75%, 02/15/2024		100		100


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Electric — continued
WEC Energy Group, Inc., 0.80%, 03/15/2024		2,000		1,980

Total Utilities				14,641

Total Corporate Bonds (Cost $284,924)				284,649

Foreign Government Securities — 0.6%
Export-Import Bank of Korea, (South Korea), 4.88%, 01/11/2026		500		501
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026		3,100		2,867

Total Foreign Government Securities (Cost $3,599)				3,368

Municipal Bond — 0.3% (t)
Pennsylvania — 0.3%
Philadelphia Authority for Industrial Development, Taxable, Rev., 0.94%, 04/15/2024
(Cost $1,555)		1,555		1,535

U.S. Government Agency Securities — 5.1%
FHLBs,
0.38%, 05/17/2024		1,500		1,472
0.46%, 09/10/2024		2,500		2,423
1.04%, 06/14/2024		2,000		1,962
3.63%, 02/28/2024		1,000		997
5.17%, 03/08/2024		2,000		1,999
5.30%, 12/06/2024		1,000		1,000
5.51%, 04/01/2024		2,000		1,999
5.64%, 04/02/2025		1,000		1,000
5.65%, 05/28/2025		1,700		1,700
0.40%, 05/24/2024		1,360		1,334
FHLMC,
4.05%, 08/28/2025		2,500		2,484
5.05%, 01/28/2025		1,000		998
5.08%, 10/25/2024		1,000		999
5.52%, 05/28/2025		1,700		1,699
5.55%, 05/09/2025		1,700		1,690
5.68%, 04/03/2025		1,700		1,700
5.73%, 04/03/2025		1,700		1,700
5.85%, 08/23/2027		2,000		1,999
FNMA, 4.00%, 02/28/2025		1,000		996

Total U.S. Government Agency Securities (Cost $30,200)				30,151

U.S. Treasury Obligations — 4.9%
U.S. Treasury Notes,
0.38%, 07/15/2024		2,000		1,951
0.38%, 09/15/2024		9,000		8,716
1.88%, 08/31/2024		14,000		13,713
2.00%, 04/30/2024		2,250		2,226
2.25%, 04/30/2024		2,800		2,772

Total U.S. Treasury Obligations (Cost $29,352)				29,378


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Short-Term Investments — 14.0%
Banker’s Acceptance Bill — 0.5%
Bank of Nova Scotia (The), (Canada), 5.34%, 02/05/2024 (n)	CAD	3,900		2,927

Certificates of Deposit — 0.7%
Citibank NA, 5.97%, 05/10/2024 (n)		2,000		2,002
Royal Bank of Canada, (Canada), 5.97%, 06/27/2024 (n)		2,000		2,003

Total Certificates of Deposit				4,005

Commercial Papers — 1.7%
BPCE SA, (France), 5.93%, 06/04/2024 (n)		2,000		1,953
HSBC USA, Inc.,
6.46%, 08/22/2024 (n)		1,000		964
6.46%, 09/09/2024 (e) (n)		2,200		2,115
6.52%, 10/11/2024 (e) (n)		2,000		1,913
6.55%, 06/24/2024 (n)		750		730
Quanta Services, Inc.,
5.93%, 01/18/2024 (e) (n)		600		598
5.93%, 01/17/2024 (e) (n)		1,700		1,695

Total Commercial Papers				9,968

Foreign Government Securities — 5.3%
Canadian Treasury Bill, (Canada), Zero Coupon, 02/15/2024	CAD	10,000		7,497
Japan Treasury Discount Bills, (Japan),
Series 1188, Zero Coupon, 01/22/2024	JPY	1,234,600		8,757
Series 1190, Reg. S, Zero Coupon, 01/29/2024	JPY	260,000		1,844
Series 1201, Zero Coupon, 03/25/2024	JPY	1,800,000		12,771
National Bank of Hungary Bill, (Hungary), Series 7D, Zero Coupon, 01/04/2024	HUF	211,000		608

Total Foreign Government Securities				31,477


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)			VALUE ($)

Time Deposits — 2.4%
Australia & New Zealand Banking Group Ltd.,
2.77%, 01/02/2024	AUD	192			131
3.06%, 01/03/2024	NZD	—	(h)		—	(h)
Citibank NA,
2.71%, 01/02/2024	EUR	233			258
4.68%, 01/02/2024		288			288
Royal Bank of Canada,
3.79%, 01/02/2024	CAD	135			102
4.16%, 01/02/2024	GBP	149			190
4.68%, 01/02/2024		9,135			9,135
Sumitomo Mitsui Banking Corp., 4.68%, 01/02/2024		4,213			4,213

Total Time Deposits					14,317

U.S. Treasury Obligations — 3.4%
U.S. Treasury Bills,
Zero Coupon, 02/29/2024 (ii)		205			203
Zero Coupon, 06/06/2024		11,000			10,759
Zero Coupon, 03/28/2024 (ii)		72			71
Zero Coupon, 04/09/2024		9,000			8,873
Zero Coupon, 02/08/2024		500			498

Total U.S. Treasury Obligations					20,404

Total Short-Term Investments (Cost $81,803)					83,098

Total Investments — 101.7% (Cost — $603,933)					604,035
Liabilities in Excess of Other Assets — (1.7)%					(10,325	)

NET ASSETS — 100.0%				$	593,710

Percentages indicated are based on net assets.


ASX		— Australian Stock Exchange
BBSW		— Bank Bill Swap Rate
CLO		— Collateralized Loan Obligations
CMT		— Constant Maturity Treasury
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
Reg. S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Interbank Average Rate
SUB		— Step-Up Bond. The interest rate shown is the rate in effect as of December 31, 2023.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in


		transactions exempt from registration, normally to qualified institutional buyers.
(f)		— Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(n)		— The rate shown is the effective yield as of December 31, 2023.
(t)		— The date shown represents the earliest of the next put date, next demand date or final maturity date.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of December 31, 2023.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of December 31, 2023.
(ii)		— Approximately $274 of these investments are restricted as collateral for forwards to various brokers.
AUD		— Australian Dollar
CAD		— Canadian Dollar
EUR		— Euro
GBP		— British Pound
HUF		— Hungarian Forint
JPY		— Japanese Yen
NZD		— New Zealand Dollar
USD		— United States Dollar


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — 8.4%
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,200		1,175
Bank of America Auto Trust,
Series 2023-1A, Class A2, 5.83%, 05/15/2026 (e)		1,000		1,001
Series 2023-2A, Class A2, 5.85%, 08/17/2026 (e)		2,400		2,414
BMW Canada Auto Trust, (Canada), Series 2023-1A, Class A1, 5.43%, 01/20/2026 (e)	CAD	623		469
BMW Vehicle Lease Trust, Series 2023-1, Class A2, 5.27%, 02/25/2025		519		519
Capital One Multi-Asset Execution Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.69%), 6.06%, 07/15/2027 (aa)		1,000		1,002
Series 2022-A1, Class A1, 2.80%, 03/15/2027		2,400		2,339
Series 2022-A2, Class A, 3.49%, 05/15/2027		500		491
Capital One Prime Auto Receivables Trust, Series 2022-2, Class A2B, (United States 30 Day Average SOFR + 0.65%), 5.99%, 09/15/2025 (aa)		696		696
CARDS II Trust, (Canada), Series 2023-2A, Class A, (United States SOFR + 0.85%), 6.21%, 07/15/2028 (e) (aa)		1,500		1,504
CarMax Auto Owner Trust,
Series 2022-4, Class A2A, 5.34%, 12/15/2025		308		308
Series 2022-4, Class A2B, (United States 30 Day Average SOFR + 0.90%), 6.24%, 12/15/2025 (aa)		572		573
Series 2023-4, Class A2A, 6.08%, 12/15/2026		1,300		1,310
Carvana Auto Receivables Trust, Series 2023-P4, Class A2, 6.23%, 01/11/2027 (e)		600		602
Citibank Credit Card Issuance Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.73%), 6.09%, 04/22/2026 (aa)		1,000		1,001
Series 2017-A6, Class A6, (CME Term SOFR 1 Month + 0.88%), 6.25%, 05/14/2029 (aa)		2,000		2,008
Series 2018-A5, Class A5, (CME Term SOFR 1 Month + 0.72%), 6.08%, 08/07/2027 (aa)		1,000		1,003
Series 2023-A1, Class A1, 5.23%, 12/08/2027		2,300		2,318
CNH Equipment Trust, Series 2023-B, Class A2, 5.90%, 02/16/2027		700		704
Daimler Trucks Retail Trust, Series 2023-1, Class A2, 6.03%, 09/15/2025		600		601
Dell Equipment Finance Trust,
Series 2021-2, Class A3, 0.53%, 12/22/2026 (e)		139		138
Series 2023-2, Class A2, 5.84%, 01/22/2029 (e)		500		501


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Discover Card Execution Note Trust, Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.71%), 6.08%, 12/15/2026 (aa)		1,000		1,002
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e)		772		671
Enterprise Fleet Financing LLC, Series 2022-1, Class A2, 3.03%, 01/20/2028 (e)		512		504
Ford Auto Securitization Trust, (Canada), Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e)	CAD	187		140
Ford Credit Auto Lease Trust, Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.59%), 5.93%, 02/15/2026 (aa)		1,200		1,200
GM Financial Automobile Leasing Trust,
Series 2023-1, Class A2A, 5.27%, 06/20/2025		766		766
Series 2023-2, Class A2A, 5.44%, 10/20/2025		842		841
GM Financial Consumer Automobile Receivables Trust,
Series 2022-3, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.94%, 09/16/2025 (aa)		588		588
Series 2023-2, Class A2A, 5.10%, 05/18/2026		815		813
Series 2023-2, Class A2B, (United States 30 Day Average SOFR + 0.75%), 6.09%, 05/18/2026 (aa)		815		816
Series 2023-4, Class A2A, 5.89%, 11/16/2026		900		905
GMF Canada Leasing Trust, (Canada), Series 2023-1A, Class A1, 5.46%, 04/21/2025 (e)	CAD	668		504
GMF Floorplan Owner Revolving Trust, Series 2019-2, Class A, 2.90%, 04/15/2026 (e)		2,500		2,479
Hertz Vehicle Financing III LLC,
Series 2022-3A, Class A, 3.37%, 03/25/2025 (e)		50		50
Series 2023-1A, Class A, 5.49%, 06/25/2027 (e)		2,000		2,007
Hyundai Auto Lease Securitization Trust,
Series 2021-C, Class A3, 0.38%, 09/16/2024 (e)		116		116
Series 2023-A, Class A2A, 5.20%, 04/15/2025 (e)		571		570
Hyundai Auto Receivables Trust, Series 2023-A, Class A2A, 5.19%, 12/15/2025		808		807
M&T Equipment Notes, Series 2023-1A, Class A2, 6.09%, 07/15/2030 (e)		700		702
Master Credit Card Trust II, (Canada), Series 2023-1A, Class A, 4.70%, 06/21/2027 (e)		600		598
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e)		900		882
Navient Private Education Loan Trust, Series 2018-BX, Class A2B, Reg. S, (CME Term SOFR 1 Month + 0.83%), 6.20%, 12/15/2059 (aa)		657		652
Nelnet Student Loan Trust, Series 2019-2A, Class A, (United States 30 Day Average SOFR + 1.01%), 6.35%, 06/27/2067 (e) (aa)		758		752


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Asset-Backed Securities — continued
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e)		67		66
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (CME Term SOFR 1 Month + 0.91%), 6.27%, 07/25/2035 (aa)		467		460
Pawnee Equipment Receivables LLC,
Series 2022-1, Class A2, 4.84%, 02/15/2028 (e)		168		168
Series 2021-1, Class A2, 1.10%, 07/15/2027 (e)		346		338
PRET LLC,
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e)		676		651
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e)		287		283
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e)		203		199
SLM Student Loan Trust, Series 2004-10, Class A7B, (United States 90 Day Average SOFR + 0.86%), 6.20%, 10/25/2029 (e) (aa)		424		424
SMB Private Education Loan Trust,
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e)		180		176
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e)		401		361
Series 2022-C, Class A1B, (United States 30 Day Average SOFR + 1.85%), 7.19%, 05/16/2050 (e) (aa)		299		300
Series 2023-A, Class A1A, 5.38%, 01/15/2053 (e)		174		174
Synchrony Card Funding LLC, Series 2023-A1, Class A, 5.54%, 07/15/2029		1,000		1,019
Tesla Auto Lease Trust, Series 2023-B, Class A2, 6.02%, 09/22/2025 (e)		600		602
Towd Point Asset Trust, Series 2021-SL1, Class A2, (CME Term SOFR 1 Month + 0.81%), 6.17%, 11/20/2061 (e) (aa)		143		140
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e)		1,800		1,709
Toyota Auto Receivables Owner Trust,
Series 2022-C, Class A3, 3.76%, 04/15/2027		1,000		983
Series 2023-C, Class A2A, 5.60%, 08/17/2026		500		501
Toyota Lease Owner Trust, Series 2023-B, Class A2A, 5.73%, 04/20/2026 (e)		1,200		1,206
Trillium Credit Card Trust II, (Canada), Series 2023-3A, Class A, (United States SOFR + 0.85%), 6.24%, 08/26/2028 (e) (aa)		2,000		2,007
Volkswagen Auto Lease Trust, Series 2023-A, Class A2A, 5.87%, 01/20/2026		900		904
Volkswagen Auto Loan Enhanced Trust,
Series 2023-1, Class A2A, 5.50%, 12/21/2026		988		989


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Series 2023-2, Class A2A, 5.72%, 03/22/2027		2,300		2,314
World Omni Auto Receivables Trust,
Series 2023-A, Class A2A, 5.18%, 07/15/2026		701		700
Series 2023-B, Class A2A, 5.25%, 11/16/2026		858		856

Total Asset-Backed Securities (Cost $58,679)				58,572

Collateralized Mortgage Obligations — 2.8%
Avon Finance, (United Kingdom), Series 4A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 12/28/2049 (e) (aa)	GBP	1,135		1,444
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 08/20/2045 (aa)	GBP	372		473
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z)		286		278
FNMA REMICS,
Series 2020-29, Class FC, (United States 30 Day Average SOFR + 0.91%), 5.48%, 05/25/2050 (aa)		1,460		1,445
Series 2022-8, Class D, 2.00%, 08/25/2038		1,312		1,197
GNMA,
Series 2015-H04, Class FA, (CME Term SOFR 1 Month + 0.76%), 6.09%, 12/20/2064 (aa)		984		976
Series 2017-121, Class PE, 3.00%, 07/20/2046		160		152
Series 2018-H18, Class FC, (CME Term SOFR 1 Month + 0.46%), 5.79%, 08/20/2065 (aa)		536		533
Series 2019-54, Class KF, (CME Term SOFR 1 Month + 0.53%), 5.88%, 05/20/2044 (aa)		358		343
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 6.84%, 06/20/2071 (aa)		1,476		1,474
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 3.50%, 01/20/2052 (aa)		872		767
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 5.69%, 01/20/2072 (aa)		785		751
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.24%, 01/20/2073 (aa)		410		408
Series 2023-H12, Class FA, (United States 30 Day Average SOFR + 1.00%), 6.34%, 05/20/2073 (aa)		2,022		2,022
Series 2023-H26, Class DF, (United States 30 Day Average SOFR + 0.30%), 5.64%, 09/20/2073 (aa)		2,347		2,323
Series 2023-H27, Class FD, (United States 30 Day Average SOFR + 1.10%), 6.44%, 11/20/2073 (aa)		502		505


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Collateralized Mortgage Obligations — continued
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z)		224		205
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e)		1,179		1,135
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z)		379		335
New Residential Mortgage Loan Trust,
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z)		99		96
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z)		243		222
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z)		468		426
Silverstone Master Issuer plc, (United Kingdom), Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 5.75%, 01/21/2070 (e) (aa)		480		479
Starwood Mortgage Residential Trust,
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z)		205		191
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z)		257		232
Stratton Mortgage Funding, (United Kingdom), Series 2021-2A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 07/20/2060 (e) (aa)	GBP	116		148
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 1.35%), 6.57%, 07/20/2045 (e) (aa)	GBP	468		597
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (CME Term SOFR 1 Month + 1.11%), 6.47%, 05/25/2058 (e) (aa)		232		236

Total Collateralized Mortgage Obligations (Cost $20,052)				19,393

Commercial Mortgage-Backed Securities — 1.2%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (CME Term SOFR 1 Month + 1.18%), 6.54%, 09/15/2034 (e) (aa)		500		480
AREIT Trust, (Cayman Islands),
Series 2021-CRE5, Class A, (CME Term SOFR 1 Month + 1.19%), 6.55%, 11/17/2038 (e) (aa)		399		387
Series 2022-CRE6, Class A, (United States 30 Day Average SOFR + 1.25%), 6.59%, 01/20/2037 (e) (aa)		805		789
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (CME Term SOFR 1 Month + 1.17%), 6.53%, 06/15/2035 (e) (aa)		234		231
BAMLL Commercial Mortgage Securities Trust, Series 2019-RLJ, Class A, (CME Term SOFR 1 Month + 1.10%), 6.46%, 04/15/2036 (e) (aa)		400		398
BDS LLC, Series 2022-FL12, Class A, (CME Term SOFR 1 Month + 2.14%), 7.49%, 08/19/2038 (e) (aa)		900		895


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.73%, 09/15/2036 (e) (aa)		500		466
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058		422		411
Citigroup Commercial Mortgage Trust, Series 2021-KEYS, Class A, (CME Term SOFR 1 Month + 1.29%), 6.66%, 10/15/2036 (e) (aa)		900		884
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 6.43%, 12/15/2034 (e) (aa)		900		878
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (CME Term SOFR 1 Month + 1.11%), 6.48%, 05/15/2036 (e) (aa)		700		643
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 7.19%, 03/15/2035 (e) (aa)		719		712
Sage AR Funding No. 1 plc, (United Kingdom), Series 1A, Class A, (SONIA Interest Rate Benchmark + 1.25%), 6.47%, 11/17/2030 (e) (aa)	GBP	800		1,009
SREIT Trust, Series 2021-IND, Class A, (CME Term SOFR 1 Month + 0.81%), 6.18%, 10/15/2038 (e) (aa)		100		98
VMC Finance LLC, Series 2021-FL4, Class A, (CME Term SOFR 1 Month + 1.21%), 6.57%, 06/16/2036 (e) (aa)		277		270

Total Commercial Mortgage-Backed Securities
(Cost $8,813)				8,551

Corporate Bonds — 14.4%
Communications — 0.3%
Media — 0.3%
Charter Communications Operating LLC / Charter Communications Operating Capital, 4.50%, 02/01/2024		300		299
(CME Term SOFR 3 Month + 1.91%), 7.29%, 02/01/2024 (aa)		1,700		1,700

Total Communications				1,999

Consumer Cyclical — 1.5%
Auto Manufacturers — 1.0%
Ford Motor Credit Co. LLC, 2.30%, 02/10/2025		600		577
General Motors Financial Co., Inc., 3.50%, 11/07/2024		2,500		2,454
Hyundai Capital America,
0.80%, 01/08/2024 (e)		1,200		1,199
1.00%, 09/17/2024 (e)		1,100		1,065
(United States SOFR + 1.15%), 6.54%, 08/04/2025 (e) (aa)		200		200
Volkswagen Group of America Finance LLC, (United States SOFR + 0.93%), 6.35%, 09/12/2025 (e) (aa)		1,500		1,503


				6,998


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Lodging — 0.1%
Hyatt Hotels Corp., 1.80%, 10/01/2024		600		582

Retail — 0.4%
7-Eleven, Inc., 0.80%, 02/10/2024 (e)		2,400		2,386
McDonald’s Corp., Reg. S, (BBSW ASX Australian 3 Month + 1.13%),
5.47%, 03/08/2024 (aa)	AUD	600		409


				2,795

Total Consumer Cyclical				10,375

Consumer Non-cyclical — 2.0%
Agriculture — 0.4%
BAT Capital Corp., 3.22%, 08/15/2024		696		685
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e)		2,400		2,360


				3,045

Beverages — 0.2%
JDE Peet’s NV, (Netherlands), 0.80%, 09/24/2024 (e)		400		385
Keurig Dr Pepper, Inc., 0.75%, 03/15/2024		1,200		1,188


				1,573

Commercial Services — 0.4%
Global Payments, Inc., 1.50%, 11/15/2024		2,000		1,929
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 6.41%, 12/16/2024 (aa)	AUD	1,000		686


				2,615

Cosmetics/Personal Care — 0.3%
Haleon US Capital LLC, 3.02%, 03/24/2024		2,100		2,087

Healthcare — Products — 0.3%
Baxter International, Inc.,
1.32%, 11/29/2024		500		482
(SOFR Compounded Index + 0.44%), 5.85%, 11/29/2024 (aa)		1,900		1,895


				2,377


Healthcare — Services — 0.3%
HCA, Inc., 5.00%, 03/15/2024		2,000		1,996

Pharmaceuticals — 0.1%
AbbVie, Inc., 3.85%, 06/15/2024		1,000		992

Total Consumer Non-cyclical				14,685

Financial — 8.4%
Banks — 7.0%
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024		1,100		1,064
Banco Santander SA, (Spain), 3.89%, 05/24/2024		453		450
Bank of America Corp.,
(Canada Bankers Acceptances 3 Month + 0.90%), 2.93%, 04/25/2025 (aa)	CAD	1,200		898


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Banks — continued
(CME Term SOFR 3 Month + 1.23%), 3.46%, 03/15/2025 (aa)		800		796
(United States SOFR + 1.10%), 6.48%, 04/25/2025 (aa)		600		601
Series 2025, (United States SOFR + 0.66%), 6.05%, 02/04/2025 (aa)		500		499
Bank of Nova Scotia (The), (Canada), Series FRN, (SOFR Compounded Index + 0.45%), 5.81%, 04/15/2024 (aa)		500		500
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 1.00%, 02/04/2025		600		572
Reg. S, (SOFR Compounded Index + 0.41%), 5.80%, 02/04/2025 (aa)		500		498
5.90%, 07/13/2026 (e)		1,500		1,532
Barclays plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		1,800		1,788
BNP Paribas SA, (France), (CME Term SOFR 3 Month + 2.50%), 4.71%, 01/10/2025 (e) (aa)		1,900		1,900
BPCE SA, (France), Reg. S, (United States SOFR + 0.57%), 5.94%, 01/14/2025 (aa)		800		798
Citibank NA, (SOFR Compounded Index + 1.06%), 6.47%, 12/04/2026 (aa)		1,200		1,202
Credit Suisse AG, (Switzerland),
3.63%, 09/09/2024		600		591
(SOFR Compounded Index + 0.39%), 5.78%, 02/02/2024 (aa)		950		950
Danske Bank A / S, (Denmark), Reg. S, 5.38%, 01/12/2024		1,400		1,400
Deutsche Bank AG, (Germany),
3.70%, 05/30/2024		2,000		1,979
(United States SOFR + 2.58%), 3.96%, 11/26/2025 (aa)		500		492
Federation des Caisses Desjardins du Quebec, (Canada),
0.70%, 05/21/2024 (e)		1,100		1,079
2.05%, 02/10/2025 (e)		500		482
First Abu Dhabi Bank PJSC, (United Arab Emirates), (BBSW ASX Australian 3 Month + 1.10%), 5.48%, 02/18/2025 (aa)	AUD	700		476
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.49%), 5.86%, 10/21/2024 (aa)		300		300
Reg. S, (BBSW ASX Australian 3 Month + 1.55%), 5.90%, 05/02/2024 (aa)	AUD	500		341
HSBC Holdings plc, (United Kingdom),
(CME Term SOFR 3 Month + 1.47%), 3.80%, 03/11/2025 (aa)		1,400		1,394
(CME Term SOFR 3 Month + 1.49%), 6.86%, 03/11/2025 (aa)		1,000		1,002
ING Groep NV, (Netherlands), 3.55%, 04/09/2024		700		696
Lloyds Banking Group plc, (United Kingdom), 4.45%, 05/08/2025		2,100		2,075


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Banks — continued
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		1,000		997
(United States SOFR + 0.94%), 6.34%, 02/20/2026 (aa)		530		530
(United States SOFR + 1.39%), 6.80%, 09/12/2025 (aa)		400		401
(United States SOFR + 1.44%), 6.81%, 04/17/2026 (aa)		500		503
Mizuho Financial Group, Inc., (Japan), (CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa)		1,000		985
NatWest Group plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.76%), 4.27%, 03/22/2025 (aa)		1,500		1,495
NatWest Markets plc, (United Kingdom), 3.48%, 03/22/2025 (e)		1,000		979
Nordea Bank Abp, (Finland), (United States SOFR + 0.96%), 6.38%, 06/06/2025 (e) (aa)		725		728
Oversea-Chinese Banking Corp. Ltd., (Singapore),
(BBSW ASX Australian 3 Month + 0.26%), 4.68%, 08/12/2024 (aa)	AUD	1,000		680
(BBSW ASX Australian 3 Month + 0.35%), 4.71%, 03/18/2024 (f) (aa)	AUD	500		341
Skandinaviska Enskilda Banken AB, (Sweden), 1.40%, 11/19/2025 (e)		2,100		1,964
Societe Generale SA, (France),
2.63%, 10/16/2024 (e)		300		293
2.63%, 01/22/2025 (e)		800		775
3.88%, 03/28/2024 (e)		500		498
Standard Chartered plc, (United Kingdom),
Reg. S, (CMT Index 1 Year + 0.88%), 1.21%, 03/23/2025 (f) (aa)		300		296
(ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa)		1,700		1,685
Reg. S, (United States SOFR + 0.93%), 6.34%, 11/23/2025 (aa)		400		398
(CMT Index 1 Year + 3.10%), 7.78%, 11/16/2025 (e) (aa)		400		408
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 5.40%, 10/16/2024 (aa)	AUD	2,400		1,638
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e)		400		387
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e)		2,900		2,957
UBS AG, (Switzerland), Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 5.21%, 07/30/2025 (aa)	AUD	2,200		1,495
Wells Fargo & Co.,
(CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa)		500		486
3.18%, 02/08/2024 (f)	CAD	1,000		753
(United States SOFR + 1.32%), 6.70%, 04/25/2026 (aa)		1,200		1,209


				49,236


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Diversified Financial Services — 1.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
1.65%, 10/29/2024		1,200		1,158
4.88%, 01/16/2024		1,800		1,799
Ally Financial, Inc., 5.13%, 09/30/2024		1,000		992
Avolon Holdings Funding Ltd., (Cayman Islands),
3.95%, 07/01/2024 (e)		600		592
5.25%, 05/15/2024 (e)		500		497
Mitsubishi HC Capital, Inc., (Japan),
3.56%, 02/28/2024 (e)		350		349
3.64%, 04/13/2025 (e)		570		557
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025		2,300		2,178
ORIX Corp., (Japan), 3.25%, 12/04/2024		400		392


				8,514

Insurance — 0.1%
Jackson National Life Global Funding, (United States SOFR + 1.15%), 6.59%, 06/28/2024 (e) (aa)		500		501


Savings & Loans — 0.1%
Nationwide Building Society, (United Kingdom), 0.55%, 01/22/2024 (e)		400		399


Total Financial				58,650

Industrial — 0.8%
Aerospace/Defense — 0.4%
Boeing Co. (The), 1.43%, 02/04/2024		2,510		2,499


Electronics — 0.3%
Arrow Electronics, Inc., 3.25%, 09/08/2024		1,843		1,810

Miscellaneous Manufacturers — 0.1%
3M Co., (CME Term SOFR 3 Month + 0.56%), 5.94%, 02/14/2024 (aa)		1,000		1,000

Total Industrial				5,309

Technology — 0.6%
Semiconductors — 0.5%
Broadcom, Inc., 3.63%, 10/15/2024		1,100		1,084
SK Hynix, Inc., (South Korea),
1.00%, 01/19/2024 (e)		300		300
Reg. S, 1.00%, 01/19/2024		1,800		1,796


				3,180

Software — 0.1%
VMware LLC, 1.00%, 08/15/2024		800		777

Total Technology				3,957

Utilities — 0.8%
Electric — 0.8%
Black Hills Corp., 1.04%, 08/23/2024		1,500		1,455


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bonds — continued
Electric — continued
Enel Finance International NV, (Netherlands),
2.65%, 09/10/2024 (e)		1,800		1,757
4.25%, 06/15/2025 (e)		300		296
Israel Electric Corp. Ltd., (Israel), Series 6, Reg. S, 5.00%, 11/12/2024 (e)		300		295
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024		1,800		1,762
Niagara Mohawk Power Corp., 3.51%, 10/01/2024 (e)		129		127
Pacific Gas and Electric Co., 3.75%, 02/15/2024		100		100

Total Utilities				5,792

Total Corporate Bonds
(Cost $101,316)				100,767

Foreign Government Securities — 0.6%
Export-Import Bank of Korea, (South Korea), 4.88%, 01/11/2026		800		802
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026		3,400		3,144

Total Foreign Government Securities
(Cost $4,198)				3,946

Municipal Bonds — 69.7% (t)
Alaska — 0.5%
Alaska Housing Finance Corp., Home Mortgage, Series B, Rev., VRDO, 3.85%, 01/05/2024 (z)		2,300		2,300
Alaska Municipal Bond Bank Authority, Series 4, Rev., AMT, 5.00%, 12/01/2024		1,215		1,230


				3,530


Arizona — 2.1%
Arizona State University, Series A, Rev., VRDO, 3.85%, 01/05/2024 (z)		12,475		12,475
City of Phoenix, GO, 5.00%, 07/01/2026		2,000		2,118


				14,593

California — 2.2%
California State Public Works Board, Various Capital Projects, Rev., 5.00%, 12/01/2025		8,400		8,772
City of Los Angeles Department of Airports, Green Bonds Subordinated, Rev., AMT, 5.00%, 05/15/2025		750		767
City of Los Angeles Department of Airports, Senior Bonds Green Bond Project, Rev., AMT, 5.00%, 05/15/2025		2,475		2,533
San Francisco City & County Airport Commission International Airport, Revenue Refunding, Second Series, Series A, Rev., AMT, 5.00%, 05/01/2025		3,000		3,076


				15,148


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Connecticut — 1.0%
Connecticut Housing Finance Authority, Series B3, Rev., VRDO, 3.78%, 01/05/2024 (z)		5,680		5,680
State of Connecticut Special Tax Revenue, Series D, Rev., 5.00%, 11/01/2025		1,250		1,301


				6,981

District of Columbia — 2.9%
District of Columbia, Rev., VRDO, LOC: Wells Fargo Bank NA, 3.86%, 01/05/2024 (z)		2,325		2,325
Metropolitan Washington Airports Authority Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2025		9,425		9,686
Series A, Rev., AMT, 5.00%, 10/01/2025		1,665		1,711
Series A, Rev., AMT, 5.00%, 10/01/2026		2,805		2,941
Series B, Rev., 5.00%, 10/01/2025		1,030		1,071
Washington Metropolitan Area Transit Authority Dedicated Revenue, Sustainability Financed Bond,
Rev., 5.00%, 07/15/2025		1,250		1,293
Rev., 5.00%, 07/15/2026		1,250		1,325


				20,352

Florida — 7.3%
Citizens Property Insurance, Inc., Series A1, Rev., 5.00%, 06/01/2025 (p)		1,000		1,015
City of Jacksonville, Series B, Rev., 5.00%, 10/01/2025		1,250		1,300
County of Miami-Dade Seaport Department, Senior Bonds, Series A, Rev., AMT, 5.00%, 10/01/2025		1,500		1,544
Highlands County Health Facilities Authority, Adventist Health System/Sunbelt Obligated Group, Series A, Rev., VRDO, 3.87%, 01/05/2024 (z)		2,800		2,800
JEA Water & Sewer System Revenue, Series B1, Rev., VRDO, 3.85%, 01/05/2024 (z)		8,385		8,385
JEA Water & Sewer System Revenue, Subordinate, Series A1, Rev., VRDO, 3.85%, 01/02/2024 (z)		1,385		1,385
Orange County Health Facilities Authority, Nemours Foundation, Series B, Rev., VRDO, LOC: Northern Trust Co., 3.75%, 01/05/2024 (z)		15,545		15,545
Orlando Utilities Commission, Series 1, Rev., VRDO, 3.93%, 01/05/2024 (z)		15,500		15,500
Sarasota County School Board, Master Lease Program, COP, 5.00%, 07/01/2026		1,250		1,322
State of Florida Lottery Revenue, Lottery, Series A, Rev., 5.00%, 07/01/2025		2,000		2,069


				50,865

Georgia — 0.4%
City of Atlanta, Department of Aviation, Series C, Rev., AMT, 5.00%, 07/01/2024		615		619


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Georgia — continued
Main Street Natural Gas, Inc., Series A, Rev., 5.00%, 06/01/2025		700		710
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project,
Rev., AGM, 5.00%, 07/01/2025		550		566
Private Colleges & Universities Authority, Emory University, Series B, Rev., 5.00%, 09/01/2025		1,020		1,060


				2,955

Illinois — 2.8%
Chicago Midway International Airport, Senior, Series C, Rev., AMT, 5.00%, 01/01/2026 (w)		3,000		3,085
Chicago O’Hare International Airport, Senior Lien O’Hare International, Rev., AMT, 5.00%, 01/01/2026		3,500		3,608
County of Cook, Series A, GO, 5.00%, 11/15/2024		5,000		5,084
Illinois Finance Authority, The Catherine Cook School Project, Rev., VRDO, LOC: Northern Trust Co., 3.65%, 01/05/2024 (z)		1,770		1,770
Sales Tax Securitization Corp., Rev., 5.00%, 01/01/2025		3,250		3,314
State of Illinois, Series D, GO, 5.00%, 07/01/2025		2,600		2,671


				19,532

Indiana — 1.0%
Indiana Finance Authority, Health Systems, Sisters of St. Francis, Series I, Rev., VRDO, LOC: Barclays Bank plc, 4.10%, 01/02/2024 (z)		6,000		6,000
Indiana Municipal Power Agency, Series B, Rev., VRDO, LOC: U.S. Bank NA, 3.85%, 01/02/2024 (z)		1,300		1,300


				7,300

Kansas — 0.3%
Johnson County Unified School District No. 512 Shawnee Mission, Series A, GO, 5.00%, 10/01/2025		1,935		2,009

Corporate Bonds — continued
Louisiana — 2.4%
Louisiana State Citizens Property Insurance Corp., Series A, Rev., 5.00%, 06/01/2026		16,000		16,819


Massachusetts — 1.7%
Commonwealth of Massachusetts, Series A, GO, 5.00%, 01/01/2025		2,000		2,044
Massachusetts Development Finance Agency, Partners Healthcare System, Inc., Series K1, Rev., VRDO, 3.80%, 01/05/2024 (z)		5,700		5,700
Massachusetts Educational Financing Authority, Senior Issue M, Series B, Rev., AMT, 5.00%, 07/01/2026		4,000		4,136


				11,880


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Michigan — 0.8%
Michigan State Building Authority, Facilities Program, Series II, Rev., 5.00%, 10/15/2025		5,500		5,729

Minnesota — 2.4%
City of Rochester MN,
Series A, Rev., VRDO, 3.80%, 01/05/2024 (z)		13,000		13,000
Series B, Rev., VRDO, 3.80%, 01/05/2024 (z)		3,900		3,900


				16,900

Missouri — 1.4%
City of Kansas City, Series A, GO, 5.00%, 02/01/2026		900		943
City of St. Louis, Airport Revenue, Series A, Rev., AGM, 5.00%, 07/01/2024		2,000		2,019
Health & Educational Facilities Authority of the State of Missouri, Series F, Rev., VRDO, 4.10%, 01/02/2024 (z)		7,000		7,000


				9,962

New Hampshire — 0.3%
New Hampshire Health and Education Facilities Authority Act, Bishop Guertin High School, Rev., VRDO, LOC: TD Bank NA, 3.80%, 01/05/2024 (z)		1,730		1,730

New Jersey — 3.0%
Jersey City Redevelopment Agency, Bayfront Redevelopment Project, Rev., 4.00%, 12/15/2024		5,350		5,402
New Jersey Economic Development Authority, Rev., 5.00%, 03/01/2026		500		523
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group, Rev., 5.00%, 07/01/2024		6,930		6,997
New Jersey Higher Education Student Assistance Authority, Senior, Series A, Rev., AMT, 5.00%, 12/01/2025		575		591
New Jersey Transportation Trust Fund Authority, Series A, Rev., 5.00%, 06/15/2025		2,025		2,087
State of New Jersey, Covid 19 Go Emergency Bonds, GO, 5.00%, 06/01/2025		5,320		5,489


				21,089

New Mexico — 2.2%
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 5.00%, 09/01/2024		6,750		6,815
New Mexico Finance Authority, Subordinate, Series A, Rev., 5.00%, 06/15/2025		2,795		2,885
University of New Mexico (The), System Improvement, Rev., VRDO, 3.75%, 01/05/2024 (z)		5,435		5,435


				15,135

New York — 7.6%
City of New York, Fiscal 2018, Series B, GO, VRDO, 4.10%, 01/02/2024 (z)		10,500		10,500


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
City of New York, Fiscal Year 2017, Series A4, GO, VRDO, LOC: Citibank NA, 3.76%, 01/05/2024 (z)		1,090		1,090
City of New York, Fiscal Year 2018, Series B5, GO, VRDO, 4.10%, 01/02/2024 (z)		7,500		7,500
New York City Municipal Water Finance Authority, Second General Resolution, Rev., VRDO, 4.00%, 01/02/2024 (z)		1,225		1,225
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated, Series E1, Rev., 5.00%, 11/01/2025		7,000		7,300
New York State Dormitory Authority, Unrefunded General Purpose, Rev., 5.00%, 02/15/2026 (p)		6,590		6,909
New York State Environmental Facilities Corp., Subordinate New York City Municipal Water Finance, Rev., 5.00%, 06/15/2026		3,500		3,718
Port Authority of New York & New Jersey,
Series 207, Rev., AMT, 5.00%, 09/15/2024		3,000		3,035
Series 242, Rev., AMT, 5.00%, 12/01/2025		5,000		5,155
Triborough Bridge & Tunnel Authority, MTA Bridges And Tunnels, Rev., 5.00%, 11/15/2025		6,455		6,744


				53,176

Ohio — 7.6%
County of Franklin, Facilities, OhioHealth Corp., Series D, Rev., VRDO, LOC: Northern Trust Co., 3.80%, 01/05/2024 (z)		1,900		1,900
Ohio Higher Educational Facility Commission, Hospital, Cleveland Clinic Health System Obligated Group, Series B3, Rev., VRDO, 3.85%, 01/02/2024 (z)		5,000		5,000
Ohio State University (The), Multiyear Debt Issuance,
Rev., VRDO, 3.75%, 01/05/2024 (z)		10,000		10,000
Rev., VRDO, 3.80%, 01/05/2024 (z)		11,600		11,600
Ohio Water Development Authority, Water Pollution Control Loan Fund, Series A, Rev., VRDO, 3.75%, 01/05/2024 (z)		10,000		10,000
State of Ohio, Cleveland Clinic Health System, Rev., VRDO, 3.75%, 01/05/2024 (z)		14,000		14,000
State of Ohio, Mental Health Facilities Improvement, Series A, Rev., 5.00%, 02/01/2024		500		501


				53,001

Oklahoma — 0.5%
Oklahoma Municipal Power Authority, Power Supply System, Series A, Rev., AGM, 5.00%, 01/01/2026		3,500		3,650


Oregon — 0.5%
Portland Community College District, GO, 5.00%, 06/15/2025		3,235		3,340


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Pennsylvania — 2.4%
City of Philadelphia Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2026		2,500		2,602
City of Philadelphia Airport Revenue, Private Activity, Rev., AMT, 5.00%, 07/01/2026		9,755		10,126
City of Philadelphia Water & Wastewater Revenue,
Series B, Rev., AGM, 5.00%, 09/01/2026		2,550		2,708
Series C, Rev., 5.00%, 06/01/2025		1,355		1,396


				16,832

Texas — 8.7%
Austin Independent School District, GO, 5.00%, 08/01/2025		4,500		4,657
Board of Regents of the University of Texas System, Financing System, Series B, Rev., VRDO, LIQ: University of Texas Investment Management Co. (The), 3.71%, 01/05/2024 (z)		16,000		16,000
City of Garland Electric Utility System Revenue, Series A, Rev., 5.00%, 03/01/2025		2,190		2,239
City of Houston Combined Utility System Revenue, Combined First Lien, Rev., VRDO, 3.87%, 01/05/2024 (z)		12,380		12,380
City of Houston Combined Utility System Revenue, Rev., VRDO, (SIFMA Municipal Swap Index + 0.01%), 3.87%, 01/05/2024 (aa)		6,000		6,000
City of Wichita Falls Water & Sewer System Revenue, Rev., 5.00%, 08/01/2024		1,540		1,558
Cypress-Fairbanks Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2025		2,140		2,191
Fort Worth Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2025		1,150		1,178
Plano Independent School District, GO, 5.00%, 02/15/2025		3,600		3,689
San Antonio Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024		1,375		1,393
State of Texas, Transportation Commission Highway, GO, 5.00%, 04/01/2025		3,000		3,082
Texas A&M University, Financing System, Series E, Rev., 5.00%, 05/15/2025		3,000		3,092
Texas Public Finance Authority, Rev., 5.00%, 02/01/2025		2,980		3,045


				60,504

Utah — 1.6%
Central Valley Water Reclamation Facility, Green Bond, Series C, Rev., 5.00%, 03/01/2024		500		501
City of Salt Lake City Public Utilities Revenue, Rev., 5.00%, 02/01/2025		1,550		1,586
Intermountain Power Agency, Series A, Rev., 5.00%, 07/01/2026		2,500		2,649
State of Utah, GO, 5.00%, 07/01/2026		5,000		5,305
University of Utah, Green Bonds, Series A, Rev., 5.00%, 08/01/2025		925		958


				10,999


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Virginia — 2.2%
Norfolk Economic Development Authority, Sentara Healthcare Obligated Group,
Series A, Rev., VRDO, 3.83%, 01/05/2024 (z)		6,300		6,300
Series B, Rev., VRDO, 3.70%, 01/05/2024 (z)		8,835		8,835


				15,135

Washington — 3.9%
Central Puget Sound Regional Transit Authority, Green Bonds, Series S1, Rev., 5.00%, 11/01/2025		5,000		5,210
Chelan County Public Utility District No. 1, Series B, Rev., VRDO, 3.80%, 01/05/2024 (z)		13,160		13,160
Port of Seattle, Intermediate Lien, Rev., AMT, 5.00%, 08/01/2025		1,735		1,781
Port of Seattle, Private Activity, Rev., AMT, 5.00%, 09/01/2025		6,885		7,070


				27,221

Total Municipal Bonds (Cost $485,969)				486,367

Short-Term Investments — 2.5%
Banker’s Acceptance Bill — 0.5%
Bank of Nova Scotia (The), (Canada), 5.34%, 02/05/2024 (n)	CAD	4,900		3,677


Commercial Papers — 1.0%
Arrow Electronics, Inc.,
5.87%, 01/02/2024 (e) (n)		300		300
5.88%, 01/04/2024 (e) (n)		300		300
5.93%, 01/24/2024 (e) (n)		300		299
Constellation Brands, Inc.,
5.76%, 01/05/2024 (e) (n)		600		599
5.82%, 01/08/2024 (e) (n)		1,350		1,348
L3Harris Technologies, Inc., 5.84%, 02/20/2024 (e) (n)		1,200		1,190
Quanta Services, Inc., 5.93%, 01/10/2024 (e) (n)		1,500		1,497
VF Corp., 6.15%, 01/17/2024 (e) (n)		1,400		1,396

Total Commercial Papers				6,929


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Foreign Government Securities — 0.8%
Japan Treasury Discount Bills, (Japan),
Series 1190, Reg. S, Zero Coupon, 01/29/2024	JPY	300,000		2,128
Series 1191, Reg. S, Zero Coupon, 02/05/2024	JPY	360,000		2,553
National Bank of Hungary Bill, (Hungary), Series 7D, Zero Coupon, 01/04/2024	HUF	317,000		914

Total Foreign Government Securities				5,595

Time Deposits — 0.2%
Australia & New Zealand Banking Group Ltd., 2.77%, 01/02/2024	AUD	14		10
Brown Brothers Harriman, 4.16%, 01/02/2024	GBP	80		101
Royal Bank of Canada,
2.71%, 01/02/2024	EUR	8		9
3.79%, 01/02/2024	CAD	146		110
4.68%, 01/02/2024		1,218		1,218
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 01/02/2024		129		129

Total Time Deposits				1,577

U.S. Treasury Obligations — 0.0% (g)
U.S. Treasury Bills,
Zero Coupon, 02/29/2024 (ii)		195		194
Zero Coupon, 03/28/2024 (ii)		72		71

Total U.S. Treasury Obligations				265

Total Short-Term Investments (Cost $17,635)				18,043


Total Investments — 99.6% (Cost—$696,662)				695,639
Total Investments — 99.6% (Cost—$696,662)				695,639

Other Assets in Excess of Liabilities — 0.4%				2,547


NET ASSETS — 100.0%			$	698,186

Percentages indicated are based on net assets.


REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SIFMA		— Securities Industry and Financial Markets Association
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Interbank Average Rate
SUB		— Step-Up Bond. The interest rate shown is the rate in effect as of December 31, 2023.
VRDO		— Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of December 31, 2023.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(f)		— Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(n)		— The rate shown is the effective yield as of December 31, 2023.
(p)		— Security is prerefunded or escrowed to maturity.


(t)		— The date shown represents the earliest of the prerefunded date, next put date or final maturity date.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of December 31, 2023.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of December 31, 2023.
(ii)		— Approximately $265 of these investments are restricted as collateral for forwards to various brokers.
AUD		— Australian Dollar
CAD		— Canadian Dollar
EUR		— Euro
GBP		— British Pound
HUF		— Hungarian Forint
JPY		— Japanese Yen
USD		— United States Dollar


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — 99.2%
Basic Materials — 0.7%
Chemicals — 0.5%
Air Products & Chemicals, Inc.		35		9,466
Albemarle Corp.		19		2,679
Celanese Corp., Class A		12		1,869
CF Industries Holdings, Inc.		32		2,562
Dow, Inc.		143		7,856
DuPont de Nemours, Inc.		89		6,857
Eastman Chemical Co.		17		1,495
Ecolab, Inc.		43		8,495
FMC Corp.		16		1,040
International Flavors & Fragrances, Inc.		42		3,433
Linde plc		80		32,907
LyondellBasell Industries NV, Class A		57		5,458
Mosaic Co. (The)		64		2,283
PPG Industries, Inc.		36		5,439
RPM International, Inc.		17		1,915
Sherwin-Williams Co. (The)		41		12,730
Westlake Corp.		8		1,107


				107,591

Forest Products & Paper — 0.0% (g)
International Paper Co.		90		3,244

Iron/Steel — 0.1%
Cleveland-Cliffs, Inc. (a)		77		1,578
Nucor Corp.		42		7,231
Reliance Steel & Aluminum Co.		8		2,365
Steel Dynamics, Inc.		27		3,204


				14,378

Mining — 0.1%
Freeport-McMoRan, Inc.		239		10,187
Newmont Corp.		192		7,960


				18,147

Total Basic Materials				143,360

Communications — 17.0%
Advertising — 0.1%
Interpublic Group of Cos., Inc. (The)		93		3,042
Omnicom Group, Inc.		45		3,885
Trade Desk, Inc. (The), Class A (a)		73		5,235


				12,162

Internet — 15.4%
Airbnb, Inc., Class A (a)		66		8,968
Alphabet, Inc., Class A (a)		2,786		389,201
Alphabet, Inc., Class C (a)		2,527		356,131
Amazon.com, Inc. (a)		8,144		1,237,417
Booking Holdings, Inc. (a)		6		22,344
CDW Corp.		71		16,170
DoorDash, Inc., Class A (a)		39		3,815
eBay, Inc.		74		3,210
Etsy, Inc. (a)		24		1,913
Expedia Group, Inc. (a)		31		4,726
F5, Inc. (a)		27		4,871
Gen Digital, Inc.		307		7,001
GoDaddy, Inc., Class A (a)		18		1,928


SECURITY DESCRIPTION	SHARES		VALUE ($)

Internet — continued
Match Group, Inc. (a)		89		3,264
MercadoLibre, Inc., (Uruguay) (a)		7		11,633
Meta Platforms, Inc., Class A (a)		2,125		752,083
Netflix, Inc. (a)		75		36,578
Okta, Inc., Class A (a)		24		2,213
Palo Alto Networks, Inc. (a)		170		50,147
Pinterest, Inc., Class A (a)		204		7,543
Robinhood Markets, Inc., Class A (a)		180		2,296
Roku, Inc., Class A (a)		20		1,797
Snap, Inc., Class A (a)		365		6,178
Uber Technologies, Inc. (a)		7,456		459,067
VeriSign, Inc. (a)		11		2,334
Zillow Group, Inc., Class C (a)		30		1,719


				3,394,547

Media — 0.4%
Charter Communications, Inc., Class A (a)		14		5,482
Comcast Corp., Class A		688		30,179
FactSet Research Systems, Inc.		25		11,779
Fox Corp., Class A		81		2,400
Fox Corp., Class B		31		853
Liberty Broadband Corp., Class C (a)		17		1,408
Liberty Global Ltd., (Bermuda), Class C (a)		38		708
Liberty Media Corp-Liberty Formula One, Class C (a)		35		2,221
Liberty Media Corp-Liberty SiriusXM (a)		28		796
News Corp., Class A		85		2,083
Paramount Global, Class B		150		2,214
Sirius XM Holdings, Inc.		128		700
Walt Disney Co. (The)		319		28,809
Warner Bros Discovery, Inc. (a)		395		4,499


				94,131

Telecommunications — 1.1%
Arista Networks, Inc. (a)		137		32,157
AT&T, Inc.		1,195		20,056
Cisco Systems, Inc.		2,141		108,141
Corning, Inc.		417		12,698
Juniper Networks, Inc.		144		4,258
Motorola Solutions, Inc.		88		27,478
T-Mobile US, Inc.		88		14,183
Verizon Communications, Inc.		703		26,502


				245,473

Total Communications				3,746,313

Consumer Cyclical — 2.9%
Airlines — 0.0% (g)
Delta Air Lines, Inc.		25		1,011
Southwest Airlines Co.		14		409


				1,420

Apparel — 0.1%
Deckers Outdoor Corp. (a)		4		2,770
NIKE, Inc., Class B		207		22,468
VF Corp.		46		869


				26,107


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Auto Manufacturers — 0.7%
Cummins, Inc.		25		6,060
Ford Motor Co.		698		8,509
General Motors Co.		268		9,626
Lucid Group, Inc. (a)		37		156
PACCAR, Inc.		100		9,722
Rivian Automotive, Inc., Class A (a)		105		2,459
Tesla, Inc. (a)		478		118,756


				155,288

Auto Parts & Equipment — 0.0% (g)
Aptiv plc, (Ireland) (a)		49		4,400
BorgWarner, Inc.		57		2,048
Lear Corp.		17		2,337


				8,785

Distribution/Wholesale — 0.2%
Copart, Inc. (a)		131		6,412
Fastenal Co.		98		6,350
Ferguson plc, (United Kingdom)		40		7,790
LKQ Corp.		45		2,145
Pool Corp.		5		2,017
Watsco, Inc.		7		2,900
WW Grainger, Inc.		8		6,561


				34,175

Entertainment — 0.0% (g)
Caesars Entertainment, Inc. (a)		19		898
DraftKings, Inc., Class A (a)		61		2,162
Live Nation Entertainment, Inc. (a)		26		2,480
Vail Resorts, Inc.		7		1,409


				6,949

Home Builders — 0.1%
D.R. Horton, Inc.		46		6,949
Lennar Corp., Class A		37		5,505
NVR, Inc. (a)		— (h)		3,164
PulteGroup, Inc.		30		3,119


				18,737

Leisure Time — 0.1%
Carnival Corp. (a)		179		3,320
Royal Caribbean Cruises Ltd. (a)		41		5,288


				8,608

Lodging — 0.1%
Hilton Worldwide Holdings, Inc.		48		8,739
Hyatt Hotels Corp., Class A		14		1,883
Las Vegas Sands Corp.		47		2,318
Marriott International, Inc., Class A		47		10,634
MGM Resorts International (a)		64		2,862
Wynn Resorts Ltd.		10		878


				27,314

Retail — 1.6%
AutoZone, Inc. (a)		3		7,705
Bath & Body Works, Inc.		34		1,453
Best Buy Co., Inc.		42		3,250


SECURITY DESCRIPTION	SHARES		VALUE ($)

Retail — continued
Burlington Stores, Inc. (a)		10		2,021
CarMax, Inc. (a)		29		2,204
Chipotle Mexican Grill, Inc., Class A (a)		5		10,301
Costco Wholesale Corp.		74		49,073
Darden Restaurants, Inc.		28		4,519
Dick’s Sporting Goods, Inc.		12		1,798
Dollar General Corp.		37		5,029
Dollar Tree, Inc. (a)		37		5,207
Domino’s Pizza, Inc.		5		1,990
Genuine Parts Co.		22		3,111
Home Depot, Inc. (The)		167		57,967
Lowe’s Cos., Inc.		93		20,721
Lululemon Athletica, Inc., (Canada) (a)		19		9,558
McDonald’s Corp.		121		35,819
O’Reilly Automotive, Inc. (a)		9		8,987
Ross Stores, Inc.		53		7,400
Starbucks Corp.		190		18,229
Target Corp.		77		10,968
TJX Cos., Inc. (The)		191		17,944
Tractor Supply Co.		15		3,205
Ulta Beauty, Inc. (a)		8		3,853
Walgreens Boots Alliance, Inc.		123		3,218
Walmart, Inc.		253		39,957
Yum! Brands, Inc.		42		5,534


				341,021

Toys/Games/Hobbies — 0.0% (g)
Hasbro, Inc.		21		1,049

Total Consumer Cyclical				629,453

Consumer Non-cyclical — 19.4%
Agriculture — 0.2%
Altria Group, Inc.		291		11,732
Archer-Daniels-Midland Co.		102		7,379
Bunge Global SA		33		3,305
Darling Ingredients, Inc. (a)		26		1,314
Philip Morris International, Inc.		253		23,798


				47,528

Beverages — 2.0%
Brown-Forman Corp., Class B		123		7,042
Celsius Holdings, Inc. (a)		62		3,383
Coca-Cola Co. (The)		4,862		286,521
Constellation Brands, Inc., Class A		72		17,514
Keurig Dr Pepper, Inc.		447		14,898
Molson Coors Beverage Co., Class B		86		5,292
Monster Beverage Corp. (a)		342		19,721
PepsiCo., Inc.		615		104,445


				458,816

Biotechnology — 0.6%
Alnylam Pharmaceuticals, Inc. (a)		19		3,649
Amgen, Inc.		89		25,730
Biogen, Inc. (a)		25		6,503
BioMarin Pharmaceutical, Inc. (a)		29		2,829
Bio-Rad Laboratories, Inc., Class A (a)		12		4,024
Corteva, Inc.		112		5,388


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Biotechnology — continued
Gilead Sciences, Inc.		213		17,243
Illumina, Inc. (a)		97		13,459
Incyte Corp. (a)		29		1,800
Moderna, Inc. (a)		54		5,350
Regeneron Pharmaceuticals, Inc. (a)		18		15,736
Royalty Pharma plc, Class A		31		865
United Therapeutics Corp. (a)		9		1,890
Vertex Pharmaceuticals, Inc. (a)		43		17,538


				122,004

Commercial Services — 1.4%
Automatic Data Processing, Inc.		71		16,640
Block, Inc., Class A (a)		319		24,676
Booz Allen Hamilton Holding Corp., Class A		25		3,200
Cintas Corp.		17		10,417
CoStar Group, Inc. (a)		61		5,301
Equifax, Inc.		27		6,603
FleetCor Technologies, Inc. (a)		40		11,175
Gartner, Inc. (a)		12		5,461
Global Payments, Inc.		150		19,014
MarketAxess Holdings, Inc.		25		7,355
Moody’s Corp.		103		40,192
Paylocity Holding Corp. (a)		7		1,205
PayPal Holdings, Inc. (a)		612		37,595
Quanta Services, Inc.		26		5,509
Robert Half, Inc.		23		2,059
Rollins, Inc.		53		2,330
S&P Global, Inc.		209		92,239
Toast, Inc., Class A (a)		156		2,841
TransUnion		33		2,258
U-Haul Holding Co., Class B		23		1,654
United Rentals, Inc.		13		7,239
Verisk Analytics, Inc., Class A		25		5,990


				310,953

Cosmetics/Personal Care — 0.4%
Colgate-Palmolive Co.		123		9,828
Estee Lauder Cos., Inc. (The), Class A		38		5,619
Kenvue, Inc.		274		5,897
Procter & Gamble Co. (The)		399		58,539


				79,883

Food — 0.3%
Albertsons Cos., Inc., Class A		50		1,140
Campbell Soup Co.		32		1,365
Conagra Brands, Inc.		92		2,650
General Mills, Inc.		106		6,900
Hershey Co. (The)		23		4,379
Hormel Foods Corp.		52		1,671
J M Smucker Co. (The)		22		2,728
Kellanova		49		2,752
Kraft Heinz Co. (The)		172		6,346
Kroger Co. (The)		124		5,677
Lamb Weston Holdings, Inc.		18		1,989
McCormick & Co., Inc.		42		2,907


SECURITY DESCRIPTION	SHARES		VALUE ($)

Food — continued
Mondelez International, Inc., Class A		242		17,562
Sysco Corp.		75		5,480
Tyson Foods, Inc., Class A		67		3,591


				67,137

Healthcare — Products — 3.8%
Abbott Laboratories		291		32,083
Agilent Technologies, Inc.		183		25,376
Align Technology, Inc. (a)		12		3,335
Avantor, Inc. (a)		399		9,120
Baxter International, Inc.		73		2,823
Bio-Techne Corp.		98		7,537
Boston Scientific Corp. (a)		245		14,149
Cooper Cos., Inc. (The)		7		2,557
Danaher Corp.		1,238		286,459
Edwards Lifesciences Corp. (a)		91		6,917
Exact Sciences Corp. (a)		31		2,314
GE HealthCare Technologies, Inc.		73		5,637
Hologic, Inc. (a)		37		2,624
IDEXX Laboratories, Inc. (a)		14		7,684
Insulet Corp. (a)		11		2,361
Intuitive Surgical, Inc. (a)		59		20,023
Medtronic plc, (Ireland)		222		18,293
Repligen Corp. (a)		32		5,691
ResMed, Inc.		24		4,147
Revvity, Inc.		76		8,358
STERIS plc		15		3,309
Stryker Corp.		57		17,161
Teleflex, Inc.		7		1,701
Thermo Fisher Scientific, Inc.		596		316,165
Waters Corp. (a)		36		11,905
West Pharmaceutical Services, Inc.		43		15,311
Zimmer Biomet Holdings, Inc.		34		4,166


				837,206

Healthcare — Services — 3.1%
Catalent, Inc. (a)		181		8,136
Centene Corp. (a)		87		6,452
Charles River Laboratories International, Inc. (a)		31		7,442
DaVita, Inc. (a)		8		820
Elevance Health, Inc.		41		19,401
HCA Healthcare, Inc.		34		9,300
Humana, Inc.		21		9,589
IQVIA Holdings, Inc. (a)		112		26,024
Laboratory Corp. of America Holdings		15		3,343
Molina Healthcare, Inc. (a)		8		2,886
Quest Diagnostics, Inc.		16		2,227
UnitedHealth Group, Inc.		1,120		589,748
Universal Health Services, Inc., Class B		10		1,559


				686,927

Household Products/Wares — 0.1%
Avery Dennison Corp.		14		2,761
Church & Dwight Co., Inc.		36		3,409


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Household Products/Wares — continued
Clorox Co. (The)		19		2,710
Kimberly-Clark Corp.		51		6,141


				15,021

Pharmaceuticals — 7.5%
AbbVie, Inc.		296		45,934
Becton Dickinson & Co.		48		11,753
Bristol-Myers Squibb Co.		2,081		106,802
Cardinal Health, Inc.		47		4,764
Cencora, Inc.		32		6,615
Cigna Group (The)		51		15,255
CVS Health Corp.		216		17,079
Dexcom, Inc. (a)		63		7,866
Eli Lilly & Co.		812		473,443
Henry Schein, Inc. (a)		21		1,576
Jazz Pharmaceuticals plc (a)		3		394
Johnson & Johnson		2,452		384,267
McKesson Corp.		23		10,720
Merck & Co., Inc.		2,578		281,095
Neurocrine Biosciences, Inc. (a)		11		1,494
Pfizer, Inc.		5,748		165,498
Viatris, Inc.		1,220		13,214
Zoetis, Inc., Class A		467		92,146


				1,639,915

Total Consumer Non-cyclical				4,265,390

Energy — 5.1%
Energy — Alternate Sources — 0.1%
Enphase Energy, Inc. (a)		60		7,969
First Solar, Inc. (a)		46		7,949


				15,918

Oil & Gas — 2.7%
APA Corp.		130		4,664
Chesapeake Energy Corp.		50		3,885
Chevron Corp.		804		119,956
ConocoPhillips		540		62,654
Coterra Energy, Inc.		346		8,836
Devon Energy Corp.		290		13,133
Diamondback Energy, Inc.		77		11,893
EOG Resources, Inc.		259		31,359
EQT Corp.		169		6,515
Exxon Mobil Corp.		1,780		177,927
Hess Corp.		118		17,049
HF Sinclair Corp.		94		5,217
Marathon Oil Corp.		284		6,852
Marathon Petroleum Corp.		180		26,681
Occidental Petroleum Corp.		295		17,630
Ovintiv, Inc.		113		4,973
Phillips 66		201		26,754
Pioneer Natural Resources Co.		106		23,725
Texas Pacific Land Corp.		2		3,750
Valero Energy Corp.		159		20,716


				594,169


SECURITY DESCRIPTION	SHARES		VALUE ($)

Oil & Gas Services — 2.0%
Baker Hughes Co., Class A		444		15,160
Halliburton Co.		393		14,205
Schlumberger NV		7,871		409,590


				438,955

Pipelines — 0.3%
Cheniere Energy, Inc.		102		17,339
Kinder Morgan, Inc.		890		15,694
ONEOK, Inc.		258		18,148
Targa Resources Corp.		84		7,256
Williams Cos., Inc. (The)		540		18,803


				77,240

Total Energy				1,126,282

Financial — 19.1%
Banks — 7.6%
Bank of America Corp.		18,699		629,599
Bank of New York Mellon Corp. (The)		608		31,657
Citigroup, Inc.		1,266		65,111
Citizens Financial Group, Inc.		496		16,443
Fifth Third Bancorp		613		21,156
First Citizens BancShares, Inc., Class A		10		14,120
Goldman Sachs Group, Inc. (The)		214		82,735
Huntington Bancshares, Inc.		1,413		17,978
KeyCorp.		1,052		15,154
M&T Bank Corp.		151		20,727
Morgan Stanley		5,111		476,643
Northern Trust Corp.		128		10,815
PNC Financial Services Group, Inc. (The)		283		43,887
Regions Financial Corp.		948		18,381
State Street Corp.		243		18,848
Truist Financial Corp.		996		36,754
US Bancorp		1,070		46,331
Wells Fargo & Co.		2,322		114,269


				1,680,608

Diversified Financial Services — 4.6%
Ally Financial, Inc.		192		6,710
American Express Co.		412		77,132
Ameriprise Financial, Inc.		61		23,306
Apollo Global Management, Inc.		244		22,696
Ares Management Corp., Class A		99		11,805
BlackRock, Inc., Class A		65		52,945
Capital One Financial Corp.		275		36,009
Cboe Global Markets, Inc.		92		16,472
Charles Schwab Corp. (The)		907		62,432
CME Group, Inc., Class A		248		52,255
Coinbase Global, Inc., Class A (a)		97		16,850
Discover Financial Services		220		24,736
Franklin Resources, Inc.		192		5,732
Intercontinental Exchange, Inc.		400		51,402
LPL Financial Holdings, Inc.		51		11,554
Mastercard, Inc., Class A		512		218,420
Nasdaq, Inc.		217		12,597
Raymond James Financial, Inc.		159		17,775


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Diversified Financial Services — continued
SEI Investments Co.		80		5,060
Synchrony Financial		319		12,173
T Rowe Price Group, Inc.		140		15,033
Tradeweb Markets, Inc., Class A		80		7,309
Visa, Inc., Class A		981		255,406


				1,015,809

Insurance — 4.9%
Aflac, Inc.		422		34,832
Allstate Corp. (The)		162		22,742
American Financial Group, Inc.		49		5,833
American International Group, Inc.		523		35,440
Aon plc, Class A		122		35,441
Arch Capital Group Ltd., (Bermuda) (a)		284		21,124
Arthur J Gallagher & Co.		143		32,242
Assurant, Inc.		38		6,443
Berkshire Hathaway, Inc., Class B (a)		797		284,158
Brown & Brown, Inc.		131		9,323
Chubb Ltd., (Switzerland)		267		60,247
Cincinnati Financial Corp.		90		9,348
Equitable Holdings, Inc.		218		7,254
Erie Indemnity Co., Class A		13		4,377
Everest Group Ltd., (Bermuda)		34		12,102
Fidelity National Financial, Inc.		150		7,632
Globe Life, Inc.		110		13,373
Hartford Financial Services Group, Inc. (The)		270		21,694
Loews Corp.		138		9,606
Markel Group, Inc. (a)		8		10,950
Marsh & McLennan Cos., Inc.		305		57,706
MetLife, Inc.		492		32,515
Principal Financial Group, Inc.		224		17,605
Progressive Corp. (The)		1,465		233,383
Prudential Financial, Inc.		287		29,726
Travelers Cos., Inc. (The)		143		27,149
Willis Towers Watson plc, (United Kingdom)		62		14,919
WR Berkley Corp.		127		9,012


				1,066,176

Private Equity — 0.4%
Blackstone, Inc.		437		57,240
Carlyle Group, Inc. (The)		141		5,733
KKR & Co., Inc.		341		28,235


				91,208

Real Estate — 0.0% (g)
CBRE Group, Inc., Class A (a)		58		5,381

REITS — 1.6%
Alexandria Real Estate Equities, Inc.		27		3,374
American Homes 4 Rent, Class A		35		1,244
American Tower Corp.		932		201,111
Annaly Capital Management, Inc.		273		5,289
AvalonBay Communities, Inc.		24		4,482
Boston Properties, Inc.		27		1,892
Camden Property Trust		12		1,233


SECURITY DESCRIPTION	SHARES		VALUE ($)

REITS — continued
Crown Castle, Inc.		71		8,177
Digital Realty Trust, Inc.		48		6,472
Equinix, Inc.		15		12,260
Equity LifeStyle Properties, Inc.		29		2,068
Equity Residential		63		3,843
Essex Property Trust, Inc.		10		2,489
Extra Space Storage, Inc.		34		5,377
Gaming and Leisure Properties, Inc.		39		1,904
Healthpeak Properties, Inc.		115		2,267
Host Hotels & Resorts, Inc.		119		2,326
Invitation Homes, Inc.		87		2,970
Iron Mountain, Inc.		41		2,871
Kimco Realty Corp.		100		2,121
Mid-America Apartment Communities, Inc.		18		2,389
Prologis, Inc.		155		20,722
Public Storage		26		7,845
Realty Income Corp.		121		6,943
Regency Centers Corp.		22		1,485
SBA Communications Corp., Class A		16		4,084
Simon Property Group, Inc.		56		7,962
Sun Communities, Inc.		17		2,291
UDR, Inc.		31		1,192
Ventas, Inc.		67		3,321
VICI Properties, Inc., Class A		153		4,874
Welltower, Inc.		86		7,755
Weyerhaeuser Co.		128		4,447
WP Carey, Inc.		34		2,173


				351,253

Total Financial				4,210,435

Industrial — 6.6%
Aerospace/Defense — 0.5%
Boeing Co. (The) (a)		96		24,936
General Dynamics Corp.		44		11,448
HEICO Corp.		4		678
HEICO Corp., Class A		9		1,308
Howmet Aerospace, Inc.		65		3,518
L3Harris Technologies, Inc.		32		6,835
Lockheed Martin Corp.		39		17,505
Northrop Grumman Corp.		24		11,074
RTX Corp.		253		21,317
TransDigm Group, Inc.		8		8,480


				107,099

Building Materials — 0.2%
Builders FirstSource, Inc. (a)		25		4,104
Carrier Global Corp.		141		8,124
Fortune Brands Innovations, Inc.		27		2,057
Johnson Controls International plc		128		7,359
Lennox International, Inc.		4		1,911
Martin Marietta Materials, Inc.		12		5,978
Masco Corp.		36		2,443
Owens Corning		18		2,634
Trane Technologies plc, (Ireland)		39		9,432
Vulcan Materials Co.		25		5,769


				49,811


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Electrical Components & Equipment — 0.2%
AMETEK, Inc.		43		7,059
Eaton Corp. plc		71		17,033
Emerson Electric Co.		97		9,486


				33,578

Electronics — 0.6%
Allegion plc, (Ireland)		7		941
Amphenol Corp., Class A		306		30,382
Fortive Corp.		62		4,575
Garmin Ltd., (Switzerland)		24		3,058
Honeywell International, Inc.		111		23,368
Hubbell, Inc., Class B		9		3,063
Jabil, Inc.		71		9,071
Keysight Technologies, Inc. (a)		90		14,343
Mettler-Toledo International, Inc. (a)		13		15,415
TE Connectivity Ltd.		163		22,843
Trimble, Inc. (a)		117		6,225


				133,284

Engineering & Construction — 0.0% (g)
AECOM		25		2,295
Jacobs Solutions, Inc.		26		3,381


				5,676

Environmental Control — 0.1%
Pentair plc, (United Kingdom)		24		1,724
Republic Services, Inc., Class A		45		7,424
Veralto Corp.		38		3,166
Waste Connections, Inc., (Canada)		43		6,416
Waste Management, Inc.		71		12,756


				31,486

Hand/Machine Tools — 0.0% (g)
Snap-on, Inc.		10		2,749
Stanley Black & Decker, Inc.		30		2,915


				5,664

Machinery — Construction & Mining — 0.1%
Caterpillar, Inc.		87		25,829
Vertiv Holdings Co., Class A		51		2,474


				28,303

Machinery — Diversified — 0.3%
CNH Industrial NV, (United Kingdom)		180		2,190
Deere & Co.		47		18,851
Dover Corp.		22		3,314
Graco, Inc.		20		1,777
IDEX Corp.		9		2,016
Ingersoll Rand, Inc.		67		5,196
Nordson Corp.		5		1,306
Otis Worldwide Corp.		69		6,143
Rockwell Automation, Inc.		20		6,236
Toro Co. (The)		18		1,700
Westinghouse Air Brake Technologies Corp.		31		3,981


SECURITY DESCRIPTION	SHARES		VALUE ($)

Machinery — Diversified — continued
Xylem, Inc.		39		4,463


				57,173

Miscellaneous Manufacturers — 0.4%
3M Co.		103		11,283
AO Smith Corp.		19		1,583
Axon Enterprise, Inc. (a)		11		2,818
Carlisle Cos., Inc.		8		2,569
General Electric Co.		190		24,213
Illinois Tool Works, Inc.		51		13,236
Parker-Hannifin Corp.		22		10,209
Teledyne Technologies, Inc. (a)		23		10,214
Textron, Inc.		33		2,692


				78,817

Packaging & Containers — 0.1%
Amcor plc, (United Kingdom)		384		3,706
Ball Corp.		55		3,184
Crown Holdings, Inc.		19		1,775
Packaging Corp. of America		20		3,233
Westrock Co.		71		2,963


				14,861

Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc.		8		2,113

Transportation — 4.1%
CH Robinson Worldwide, Inc.		24		2,077
CSX Corp.		8,385		290,720
Expeditors International of Washington, Inc.		28		3,616
FedEx Corp.		43		10,970
JB Hunt Transport Services, Inc.		17		3,443
Knight-Swift Transportation Holdings, Inc., Class A		38		2,194
Norfolk Southern Corp.		42		10,001
Old Dominion Freight Line, Inc.		17		6,744
Union Pacific Corp.		104		25,577
United Parcel Service, Inc., Class B		3,520		553,507


				908,849

Total Industrial				1,456,714

Technology — 27.7%
Computers — 8.1%
Accenture plc, (Ireland), Class A		108		38,013
Apple, Inc.		8,221		1,582,808
Cognizant Technology Solutions Corp., Class A		97		7,322
Crowdstrike Holdings, Inc., Class A (a)		124		31,570
Dell Technologies, Inc., Class C		137		10,463
EPAM Systems, Inc. (a)		9		2,717
Fortinet, Inc. (a)		364		21,277
Hewlett Packard Enterprise Co.		718		12,186
HP, Inc.		487		14,662
International Business Machines Corp.		159		26,062
Leidos Holdings, Inc.		25		2,715
NetApp, Inc.		108		9,490


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Computers — continued
Seagate Technology Holdings plc		104		8,854
Super Micro Computer, Inc. (a)		25		7,204
Western Digital Corp. (a)		171		8,972
Zscaler, Inc. (a)		48		10,525


				1,794,840

Office/Business Equipment — 0.0% (g)
Zebra Technologies Corp., Class A (a)		25		6,951

Semiconductors — 6.7%
Advanced Micro Devices, Inc. (a)		728		107,257
Analog Devices, Inc.		225		44,614
Applied Materials, Inc.		375		60,745
Broadcom, Inc.		200		222,835
Entegris, Inc.		65		7,736
Intel Corp.		1,894		95,157
KLA Corp.		61		35,733
Lam Research Corp.		60		46,703
Lattice Semiconductor Corp. (a)		58		3,984
Marvell Technology, Inc.		387		23,334
Microchip Technology, Inc.		244		22,002
Micron Technology, Inc.		500		42,697
Monolithic Power Systems, Inc.		20		12,630
NVIDIA Corp.		1,110		549,635
NXP Semiconductors NV, (Netherlands)		116		26,635
ON Semiconductor Corp. (a)		194		16,182
Qorvo, Inc. (a)		42		4,773
QUALCOMM, Inc.		503		72,764
Skyworks Solutions, Inc.		70		7,851
Teradyne, Inc.		61		6,627
Texas Instruments, Inc.		403		68,772


				1,478,666

Software — 12.9%
Adobe, Inc. (a)		251		149,936
Akamai Technologies, Inc. (a)		28		3,279
ANSYS, Inc. (a)		48		17,307
Aspen Technology, Inc. (a)		16		3,430
Atlassian Corp., (Australia), Class A (a)		85		20,108
Autodesk, Inc. (a)		116		28,273
Bentley Systems, Inc., Class B		109		5,664
BILL Holdings, Inc. (a)		51		4,169
Broadridge Financial Solutions, Inc.		27		5,504
Cadence Design Systems, Inc. (a)		150		40,757
Ceridian HCM Holding, Inc. (a)		23		1,560
Cloudflare, Inc., Class A (a)		45		3,766
Confluent, Inc., Class A (a)		91		2,139
Datadog, Inc., Class A (a)		139		16,850
DocuSign, Inc., Class A (a)		111		6,603
Dropbox, Inc., Class A (a)		132		3,885
Dynatrace, Inc. (a)		137		7,469
Electronic Arts, Inc.		45		6,164
Fair Isaac Corp. (a)		14		15,781
Fidelity National Information Services, Inc.		339		20,364
Fiserv, Inc. (a)		377		50,034
HubSpot, Inc. (a)		27		15,541
Intuit, Inc.		154		96,393


SECURITY DESCRIPTION	SHARES		VALUE ($)

Software — continued
Jack Henry & Associates, Inc.		39		6,433
Manhattan Associates, Inc. (a)		30		6,446
Microsoft Corp.		4,595		1,727,796
MongoDB, Inc., Class A (a)		12		4,842
MSCI, Inc., Class A		48		27,312
Oracle Corp.		908		95,702
Palantir Technologies, Inc., Class A (a)		1,014		17,414
Paychex, Inc.		62		7,327
Paycom Software, Inc.		9		1,763
PTC, Inc. (a)		65		11,360
ROBLOX Corp., Class A (a)		69		3,165
Roper Technologies, Inc.		59		32,193
Salesforce, Inc. (a)		540		142,160
ServiceNow, Inc. (a)		113		79,788
Snowflake, Inc., Class A (a)		47		9,423
Splunk, Inc. (a)		86		13,106
SS&C Technologies Holdings, Inc.		46		2,833
Synopsys, Inc. (a)		84		43,101
Take-Two Interactive Software, Inc. (a)		29		4,747
Twilio, Inc., Class A (a)		27		2,068
Tyler Technologies, Inc. (a)		23		9,681
UiPath, Inc., Class A (a)		197		4,885
Unity Software, Inc. (a)		132		5,384
Veeva Systems, Inc., Class A (a)		22		4,287
Workday, Inc., Class A (a)		116		32,144
Zoom Video Communications, Inc., Class A (a)		127		9,167


				2,829,503

Total Technology				6,109,960

Utilities — 0.7%
Electric — 0.7%
AES Corp. (The)		91		1,745
Alliant Energy Corp.		22		1,154
Ameren Corp.		37		2,679
American Electric Power Co., Inc.		97		7,904
CenterPoint Energy, Inc.		86		2,460
CMS Energy Corp.		39		2,263
Consolidated Edison, Inc.		65		5,879
Constellation Energy Corp.		58		6,755
Dominion Energy, Inc.		147		6,887
DTE Energy Co.		36		3,930
Duke Energy Corp.		142		13,786
Edison International		68		4,871
Entergy Corp.		37		3,706
Evergy, Inc.		39		2,026
Eversource Energy		61		3,754
Exelon Corp.		187		6,698
FirstEnergy Corp.		85		3,112
NextEra Energy, Inc.		340		20,676
NRG Energy, Inc.		41		2,094
PG&E Corp.		342		6,174
PPL Corp.		85		2,296
Public Service Enterprise Group, Inc.		86		5,288
Sempra		104		7,784
Southern Co. (The)		200		13,992
Vistra Corp.		49		1,905


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Electric — continued
WEC Energy Group, Inc.		51		4,298
Xcel Energy, Inc.		102		6,326


				150,442

Gas — 0.0% (g)
Atmos Energy Corp.		23		2,661
NiSource, Inc.		33		863


				3,524

Water — 0.0% (g)
American Water Works Co., Inc.		28		3,734
Essential Utilities, Inc.		19		728


				4,462

Total Utilities				158,428

Total Common Stocks (Cost $16,571,609)				21,846,335


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Short-Term Investments — 0.7%
Time Deposits — 0.7%
Australia & New Zealand Banking Group Ltd., 4.68%, 01/02/2024		6,727		6,727
Citibank NA, 4.68%, 01/02/2024		51,940		51,940
Royal Bank of Canada, 4.68%, 01/02/2024		77,523		77,523
Sumitomo Mitsui Banking Corp., 4.68%, 01/02/2024		5		5
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 01/02/2024		16,891		16,891

Total Short-Term Investments (Cost $153,086)				153,086


Total Investments — 99.9% (Cost — $16,724,695)				21,999,421

Other Assets in Excess of Liabilities — 0.1%				25,348


NET ASSETS — 100.0%				$22,024,769

Percentages indicated are based on net assets.

Summary of Investments by Industry, December 31, 2023

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Internet		15.4	%

Software		12.9	%

Computers		8.2	%

Banks		7.6	%

Pharmaceuticals		7.5	%

Semiconductors		6.7	%

Insurance		4.8	%

Diversified Financial Services		4.6	%

Transportation		4.1	%

Healthcare — Products		3.8	%

Healthcare — Services		3.1	%

Oil & Gas		2.6	%

Beverages		2.1	%

Oil & Gas Services		2.0	%

REITS		1.6	%

Retail		1.6	%

Commercial Services		1.4	%

Telecommunications		1.1	%

Others (Each less than 1.0%)		8.2	%

Short-Term Investments		0.7	%


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — 98.3%
Austria — 0.3%
Erste Group Bank AG		402		16,268
OMV AG		121		5,325
Verbund AG		47		4,365
voestalpine AG		209		6,578


				32,536

Belgium — 1.9%
Ageas SA		351		15,266
Anheuser-Busch InBev SA		2,736		176,620
D’ieteren Group		5		1,000
Elia Group SA		20		2,511
Groupe Bruxelles Lambert NV		103		8,076
KBC Group NV		292		18,966
Lotus Bakeries NV		— (h)		890
Sofina SA		18		4,438
Syensqo SA (a)		139		14,418
UCB SA		115		10,053
Umicore SA		378		10,401
Warehouses De Pauw CVA		40		1,252


				263,891

Chile — 0.1%
Antofagasta plc		804		17,198

China — 0.0% (g)
Silergy Corp.		137		2,224

Denmark — 7.6%
AP Moller — Maersk A/S, Class A		2		4,133
AP Moller — Maersk A/S, Class B		3		6,230
Carlsberg A/S, Class B		311		38,979
Chr Hansen Holding A/S		191		16,012
Coloplast A/S, Class B		31		3,582
Danske Bank A/S		806		21,555
Demant A/S (a)		23		1,020
DSV A/S		137		24,038
Genmab A/S (a)		112		35,809
Novo Nordisk A/S, Class B		7,756		803,759
Novozymes A/S, Class B		370		20,351
Orsted A/S (e)		130		7,234
Pandora A/S		92		12,747
ROCKWOOL A/S, Class B		7		1,956
Tryg A/S		768		16,705
Vestas Wind Systems A/S (a)		742		23,493


				1,037,603

Finland — 1.3%
Elisa OYJ		34		1,583
Fortum OYJ		309		4,463
Kesko OYJ, Class B		65		1,298
Kone OYJ, Class B		250		12,501
Metso OYJ		482		4,895
Neste OYJ		100		3,555
Nokia OYJ		1,234		4,204
Nordea Bank Abp		3,741		46,592
Orion OYJ, Class B		97		4,221


SECURITY DESCRIPTION	SHARES		VALUE ($)

Finland — continued
Sampo OYJ, Class A		991		43,425
Stora Enso OYJ, Class R		1,053		14,585
UPM-Kymmene OYJ		967		36,489
Wartsila OYJ Abp		346		5,034


				182,845

France — 12.7%
Accor SA		46		1,744
Aeroports de Paris SA		25		3,308
Air Liquide SA		949		184,849
Airbus SE		436		67,366
Alstom SA		212		2,855
Amundi SA (e)		72		4,939
Arkema SA		109		12,369
AXA SA		3,957		129,226
BioMerieux		9		1,026
BNP Paribas SA		1,227		85,180
Bollore SE		170		1,063
Bouygues SA		140		5,279
Bureau Veritas SA		215		5,440
Capgemini SE		36		7,526
Carrefour SA		131		2,394
Cie de Saint-Gobain SA		335		24,714
Cie Generale des Etablissements Michelin SCA		155		5,579
Covivio SA		13		712
Credit Agricole SA		1,249		17,762
Danone SA		148		9,615
Dassault Aviation SA		15		3,003
Dassault Systemes SE		154		7,551
Edenred SE		291		17,387
Eiffage SA		54		5,783
Engie SA		1,267		22,324
EssilorLuxottica SA		68		13,650
Eurazeo SE		51		4,036
Gecina SA		12		1,425
Getlink SE		262		4,799
Hermes International SCA		35		73,553
Ipsen SA		34		4,087
Kering SA		81		35,995
Klepierre SA		52		1,410
La Francaise des Jeux SAEM (e)		24		865
Legrand SA		194		20,254
L’Oreal SA		56		27,735
LVMH Moet Hennessy Louis Vuitton SE		302		245,267
Orange SA		428		4,883
Pernod Ricard SA		644		113,888
Publicis Groupe SA		53		4,936
Remy Cointreau SA		73		9,281
Renault SA		44		1,791
Safran SA		252		44,504
Sanofi SA		1,034		102,762
Sartorius Stedim Biotech		6		1,695
Schneider Electric SE		400		80,438
SEB SA		6		753


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
France — continued
Societe Generale SA		864		22,980
Sodexo SA		20		2,252
STMicroelectronics NV		1,673		83,919
Teleperformance SE		44		6,392
Thales SA		78		11,498
TotalEnergies SE		1,880		127,855
Unibail—Rodamco-Westfield (a)		27		2,007
Veolia Environnement SA		469		14,810
Vinci SA		373		46,908
Vivendi SE		152		1,622
Worldline SA (a) (e)		280		4,872


				1,752,116

Germany — 13.5%
adidas AG		177		36,000
Allianz SE (Registered)		885		236,455
BASF SE		1,618		87,116
Bayer AG (Registered)		893		33,151
Bayerische Motoren Werke AG		71		7,878
Bechtle AG		19		938
Beiersdorf AG		23		3,512
Brenntag SE		103		9,453
Carl Zeiss Meditec AG		9		1,029
Commerzbank AG		1,227		14,588
Continental AG		26		2,199
Covestro AG (a) (e)		350		20,395
Daimler Truck Holding AG		393		14,777
Delivery Hero SE (a) (e)		40		1,106
Deutsche Bank AG (Registered)		2,266		30,928
Deutsche Boerse AG		222		45,683
Deutsche Lufthansa AG (Registered) (a)		437		3,886
Deutsche Post AG		729		36,076
Deutsche Telekom AG (Registered)		750		18,030
E.ON SE		1,557		20,914
Evonik Industries AG		421		8,610
Fresenius Medical Care AG		47		1,961
Fresenius SE & Co. KGaA		99		3,071
GEA Group AG		121		5,043
Hannover Rueck SE		132		31,599
Heidelberg Materials AG		253		22,609
HelloFresh SE (a)		36		564
Henkel AG & Co. KGaA		27		1,957
Infineon Technologies AG		3,198		133,570
Knorr-Bremse AG		53		3,405
LEG Immobilien SE (a)		17		1,492
Mercedes-Benz Group AG		186		12,824
Merck KGaA		118		18,742
MTU Aero Engines AG		40		8,528
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		300		124,237
Nemetschek SE		225		19,461
Puma SE		115		6,410
Rational AG		4		2,882
Rheinmetall AG		32		10,148


SECURITY DESCRIPTION	SHARES		VALUE ($)

Germany — continued
RWE AG		438		19,918
SAP SE		4,081		628,091
Scout24 SE (e)		17		1,185
Siemens AG (Registered)		558		104,710
Siemens Energy AG (a)		380		5,027
Siemens Healthineers AG (e)		66		3,827
Symrise AG, Class A		241		26,496
Talanx AG		142		10,122
Volkswagen AG		10		1,248
Vonovia SE		171		5,362
Wacker Chemie AG		33		4,174
Zalando SE (a) (e)		51		1,211


				1,852,598

Hong Kong — 0.5%
Prudential plc		6,657		75,108

Ireland — 1.5%
AerCap Holdings NV (a)		148		10,980
AIB Group plc		1,835		7,860
Bank of Ireland Group plc		1,233		11,192
CRH plc		1,441		99,199
DCC plc		94		6,952
Experian plc		881		35,952
Flutter Entertainment plc (a)		41		7,161
Kerry Group plc, Class A		37		3,223
Kingspan Group plc		114		9,848
Smurfit Kappa Group plc		472		18,702


				211,069

Italy — 2.6%
Amplifon SpA		30		1,030
Assicurazioni Generali SpA		2,224		46,989
Banco BPM SpA		1,410		7,470
Davide Campari-Milano NV		1,647		18,594
DiaSorin SpA		5		545
Enel SpA		5,629		41,876
Eni SpA		1,945		32,987
Ferrari NV		29		9,814
FinecoBank Banca Fineco SpA		712		10,717
Infrastrutture Wireless Italiane SpA (e)		78		991
Intesa Sanpaolo SpA		18,124		53,038
Leonardo SpA		237		3,914
Mediobanca Banca di Credito Finanziario SpA		643		7,967
Moncler SpA		225		13,872
Nexi SpA (a) (e)		685		5,613
Poste Italiane SpA (e)		1,151		13,087
Prysmian SpA		196		8,931
Recordati Industria Chimica e Farmaceutica SpA		95		5,149
Snam SpA		1,447		7,447
Telecom Italia SpA (a)		2,262		735
Terna — Rete Elettrica Nazionale		986		8,225
UniCredit SpA		1,874		51,040


				350,031


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Japan — 5.0%
Advantest Corp.		146		4,920
Aeon Co. Ltd.		124		2,758
AGC, Inc.		38		1,405
Aisin Corp.		28		990
Ajinomoto Co., Inc.		84		3,241
ANA Holdings, Inc. (a)		30		643
Asahi Group Holdings Ltd.		91		3,400
Asahi Intecc Co. Ltd.		40		817
Asahi Kasei Corp.		236		1,743
Astellas Pharma, Inc.		345		4,101
Azbil Corp.		21		706
Bandai Namco Holdings, Inc.		114		2,284
BayCurrent Consulting, Inc.		25		858
Bridgestone Corp.		109		4,489
Brother Industries Ltd.		43		686
Canon, Inc.		190		4,882
Capcom Co. Ltd.		33		1,068
Central Japan Railway Co.		138		3,495
Chiba Bank Ltd. (The)		98		708
Chubu Electric Power Co., Inc.		121		1,565
Chugai Pharmaceutical Co. Ltd.		128		4,832
Concordia Financial Group Ltd.		203		927
Dai Nippon Printing Co. Ltd.		41		1,199
Daifuku Co. Ltd.		58		1,172
Dai-ichi Life Holdings, Inc.		179		3,804
Daiichi Sankyo Co. Ltd.		352		9,628
Daikin Industries Ltd.		50		8,143
Daito Trust Construction Co. Ltd.		12		1,354
Daiwa House Industry Co. Ltd.		112		3,398
Daiwa House REIT Investment Corp.		— (h)		781
Daiwa Securities Group, Inc.		252		1,691
Denso Corp.		359		5,394
Dentsu Group, Inc.		39		993
Disco Corp.		18		4,322
East Japan Railway Co.		57		3,298
Eisai Co. Ltd.		48		2,395
ENEOS Holdings, Inc.		545		2,160
FANUC Corp.		181		5,321
Fast Retailing Co. Ltd.		33		8,234
Fuji Electric Co. Ltd.		24		1,033
FUJIFILM Holdings Corp.		71		4,261
Fujitsu Ltd.		34		5,057
GLP J-Reit		1		870
Hamamatsu Photonics KK		27		1,104
Hankyu Hanshin Holdings, Inc.		44		1,389
Hikari Tsushin, Inc.		4		628
Hirose Electric Co. Ltd.		6		678
Hitachi Construction Machinery Co. Ltd.		20		526
Hitachi Ltd.		176		12,681
Honda Motor Co. Ltd.		878		9,061
Hoshizaki Corp.		20		734
Hoya Corp.		67		8,382
Hulic Co. Ltd.		75		779
Ibiden Co. Ltd.		21		1,159
Idemitsu Kosan Co. Ltd.		193		1,048


SECURITY DESCRIPTION	SHARES		VALUE ($)

Japan — continued
Iida Group Holdings Co. Ltd.		31		463
Inpex Corp.		183		2,454
Isuzu Motors Ltd.		111		1,420
ITOCHU Corp.		226		9,207
Japan Airlines Co. Ltd.		27		527
Japan Exchange Group, Inc.		95		1,999
Japan Metropolitan Fund Invest		1		972
Japan Post Bank Co. Ltd.		277		2,817
Japan Post Holdings Co. Ltd.		396		3,539
Japan Post Insurance Co. Ltd.		37		657
Japan Real Estate Investment Corp.		— (h)		1,005
Japan Tobacco, Inc.		228		5,893
JFE Holdings, Inc.		109		1,683
JSR Corp.		34		970
Kajima Corp.		81		1,342
Kansai Electric Power Co., Inc. (The)		132		1,757
KAO Corp.		89		3,654
Kawasaki Kisen Kaisha Ltd.		27		1,134
KDDI Corp.		285		9,027
KDX Realty Investment Corp., Class A		1		882
Keisei Electric Railway Co. Ltd.		25		1,166
Keyence Corp.		37		16,256
Kikkoman Corp.		26		1,577
Kintetsu Group Holdings Co. Ltd.		35		1,103
Kirin Holdings Co. Ltd.		147		2,149
Kobe Bussan Co. Ltd.		29		860
Koei Tecmo Holdings Co. Ltd.		22		248
Koito Manufacturing Co. Ltd.		39		604
Komatsu Ltd.		176		4,585
Konami Group Corp.		19		1,008
Kose Corp.		6		456
Kubota Corp.		192		2,877
Kyocera Corp.		244		3,547
Kyowa Kirin Co. Ltd.		50		842
Lasertec Corp.		14		3,754
LY Corp.		507		1,791
M3, Inc.		83		1,368
Makita Corp.		43		1,180
Marubeni Corp.		272		4,287
MatsukiyoCocokara & Co.		66		1,165
Mazda Motor Corp.		109		1,163
McDonald’s Holdings Co. Japan Ltd.		16		693
MEIJI Holdings Co. Ltd.		44		1,043
MINEBEA MITSUMI, Inc.		69		1,418
MISUMI Group, Inc.		55		925
Mitsubishi Chemical Group Corp.		243		1,483
Mitsubishi Corp.		656		10,451
Mitsubishi Electric Corp.		368		5,201
Mitsubishi Estate Co. Ltd.		213		2,921
Mitsubishi HC Capital, Inc.		151		1,010
Mitsubishi Heavy Industries Ltd.		61		3,528
Mitsubishi UFJ Financial Group, Inc.		2,171		18,635
Mitsui & Co. Ltd.		246		9,201
Mitsui Chemicals, Inc.		33		976
Mitsui Fudosan Co. Ltd.		169		4,122


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Japan — continued
Mitsui OSK Lines Ltd.		65		2,072
Mizuho Financial Group, Inc.		459		7,824
MonotaRO Co. Ltd.		47		506
MS&AD Insurance Group Holdings, Inc.		81		3,189
Murata Manufacturing Co. Ltd.		328		6,925
NEC Corp.		47		2,759
Nexon Co. Ltd.		65		1,190
Nidec Corp.		80		3,217
Nintendo Co. Ltd.		198		10,282
Nippon Building Fund, Inc.		— (h)		1,268
NIPPON EXPRESS HOLDINGS, Inc.		14		794
Nippon Paint Holdings Co. Ltd.		180		1,454
Nippon Prologis REIT, Inc.		— (h)		844
Nippon Sanso Holdings Corp.		33		892
Nippon Steel Corp.		163		3,726
Nippon Telegraph & Telephone Corp.		5,682		6,939
Nippon Yusen KK		92		2,829
Nissan Chemical Corp.		24		919
Nissan Motor Co. Ltd.		439		1,716
Nissin Foods Holdings Co. Ltd.		38		1,320
Nitori Holdings Co. Ltd.		15		2,054
Nitto Denko Corp.		27		2,022
Nomura Holdings, Inc.		570		2,566
Nomura Real Estate Holdings, Inc.		20		535
Nomura Real Estate Master Fund, Inc.		1		956
Nomura Research Institute Ltd.		73		2,120
NTT Data Group Corp.		119		1,677
Obayashi Corp.		124		1,073
Obic Co. Ltd.		13		2,306
Odakyu Electric Railway Co. Ltd.		59		891
Oji Holdings Corp.		160		614
Olympus Corp.		230		3,314
Omron Corp.		33		1,550
Ono Pharmaceutical Co. Ltd.		74		1,316
Open House Group Co. Ltd.		15		432
Oracle Corp. Japan		7		547
Oriental Land Co. Ltd.		208		7,712
ORIX Corp.		224		4,198
Osaka Gas Co. Ltd.		72		1,495
Otsuka Corp.		21		877
Otsuka Holdings Co. Ltd.		80		2,992
Pan Pacific International Holdings Corp.		72		1,721
Panasonic Holdings Corp.		421		4,144
Rakuten Group, Inc.		286		1,274
Recruit Holdings Co. Ltd.		274		11,460
Renesas Electronics Corp. (a)		280		5,001
Resona Holdings, Inc.		403		2,043
Ricoh Co. Ltd.		106		811
Rohm Co. Ltd.		65		1,245
SBI Holdings, Inc.		47		1,059
SCSK Corp.		29		574
Secom Co. Ltd.		40		2,856
Seiko Epson Corp.		55		826
Sekisui Chemical Co. Ltd.		72		1,034
Sekisui House Ltd.		114		2,529


SECURITY DESCRIPTION	SHARES		VALUE ($)

Japan — continued
Seven & i Holdings Co. Ltd.		143		5,667
SG Holdings Co. Ltd.		62		883
Sharp Corp.		49		346
Shimadzu Corp.		45		1,249
Shimano, Inc.		15		2,264
Shimizu Corp.		107		710
Shin-Etsu Chemical Co. Ltd.		346		14,488
Shionogi & Co. Ltd.		49		2,378
Shiseido Co. Ltd.		76		2,300
Shizuoka Financial Group, Inc.		88		740
SMC Corp.		11		5,831
SoftBank Corp.		547		6,813
SoftBank Group Corp.		196		8,638
Sompo Holdings, Inc.		56		2,740
Sony Group Corp.		240		22,693
Square Enix Holdings Co. Ltd.		16		570
Subaru Corp.		117		2,138
SUMCO Corp.		67		1,008
Sumitomo Chemical Co. Ltd.		261		635
Sumitomo Corp.		197		4,287
Sumitomo Electric Industries Ltd.		134		1,705
Sumitomo Metal Mining Co. Ltd.		47		1,384
Sumitomo Mitsui Financial Group, Inc.		242		11,756
Sumitomo Mitsui Trust Holdings, Inc.		125		2,390
Sumitomo Realty & Development Co. Ltd.		54		1,606
Suntory Beverage & Food Ltd.		26		852
Suzuki Motor Corp.		70		2,987
Sysmex Corp.		32		1,779
T&D Holdings, Inc.		95		1,511
Taisei Corp.		33		1,117
Takeda Pharmaceutical Co. Ltd.		301		8,629
TDK Corp.		74		3,505
Terumo Corp.		128		4,196
TIS, Inc.		43		934
Tobu Railway Co. Ltd.		36		963
Toho Co. Ltd.		21		702
Tokio Marine Holdings, Inc.		343		8,534
Tokyo Electric Power Co. Holdings, Inc. (a)		291		1,522
Tokyo Electron Ltd.		90		15,943
Tokyo Gas Co. Ltd.		73		1,668
Tokyu Corp.		96		1,174
TOPPAN Holdings, Inc.		47		1,309
Toray Industries, Inc.		264		1,366
Tosoh Corp.		48		617
TOTO Ltd.		25		646
Toyota Industries Corp.		28		2,276
Toyota Motor Corp.		2,017		36,952
Toyota Tsusho Corp.		41		2,388
Trend Micro, Inc.		26		1,361
Unicharm Corp.		76		2,760
USS Co. Ltd.		38		767
West Japan Railway Co.		41		1,721
Yakult Honsha Co. Ltd.		49		1,102


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Japan — continued
Yamaha Corp.		26		601
Yamaha Motor Co. Ltd.		168		1,495
Yamato Holdings Co. Ltd.		53		978
Yaskawa Electric Corp.		45		1,881
Yokogawa Electric Corp.		44		840
Zensho Holdings Co. Ltd.		17		910
ZOZO, Inc.		26		591


				688,475

Jordan — 0.0% (g)
Hikma Pharmaceuticals plc		187		4,265

Luxembourg — 0.2%
ArcelorMittal SA		928		26,324
Eurofins Scientific SE		31		2,031
Tenaris SA		108		1,881


				30,236

Netherlands — 9.2%
ABN AMRO Bank NV, CVA (e)		554		8,335
Adyen NV (a) (e)		25		32,753
Aegon Ltd.		3,557		20,682
Akzo Nobel NV		310		25,637
Argenx SE (a)		14		5,201
ASM International NV		115		59,778
ASML Holding NV		987		745,173
ASR Nederland NV		348		16,418
BE Semiconductor Industries NV		189		28,462
Euronext NV (e)		100		8,656
EXOR NV		109		10,902
Heineken Holding NV		409		34,625
Heineken NV		908		92,235
IMCD NV		42		7,230
ING Groep NV		4,224		63,342
JDE Peet’s NV		23		606
Koninklijke Ahold Delhaize NV		223		6,424
Koninklijke KPN NV		791		2,725
Koninklijke Philips NV		181		4,238
NN Group NV		594		23,462
OCI NV		192		5,560
Prosus NV (a)		339		10,102
QIAGEN NV (a)		54		2,339
Randstad NV		82		5,115
Stellantis NV		511		11,980
Universal Music Group NV		190		5,435
Wolters Kluwer NV		183		25,987


				1,263,402

Norway — 0.7%
Adevinta ASA, Class B (a)		79		870
Aker BP ASA		73		2,122
DNB Bank ASA		1,082		22,995
Equinor ASA		742		23,512
Gjensidige Forsikring ASA		439		8,097
Kongsberg Gruppen ASA		66		3,043


SECURITY DESCRIPTION	SHARES		VALUE ($)

Norway — continued
Mowi ASA		106		1,895
Norsk Hydro ASA		2,400		16,129
Orkla ASA		159		1,236
Salmar ASA		16		914
Telenor ASA		145		1,660
Yara International ASA		300		10,661


				93,134

Portugal — 0.1%
EDP—Energias de Portugal SA		2,195		11,049
Galp Energia SGPS SA		380		5,587
Jeronimo Martins SGPS SA		64		1,630


				18,266

Spain — 2.3%
Acciona SA		18		2,587
ACS Actividades de Construccion y Servicios SA		155		6,882
Aena SME SA (e)		56		10,127
Amadeus IT Group SA		104		7,485
Banco Bilbao Vizcaya Argentaria SA		6,975		63,573
Banco Santander SA		18,914		79,110
CaixaBank SA		4,831		19,896
Cellnex Telecom SA (e)		132		5,181
Corp. ACCIONA Energias Renovables SA		47		1,468
EDP Renovaveis SA		213		4,358
Enagas SA		100		1,682
Endesa SA		231		4,721
Ferrovial SE		380		13,876
Grifols SA (a)		69		1,173
Iberdrola SA		4,207		55,182
Industria de Diseno Textil SA		252		11,005
Naturgy Energy Group SA		92		2,759
Redeia Corp. SA		224		3,692
Repsol SA		1,060		15,731
Telefonica SA		1,119		4,376


				314,864

Sweden — 2.9%
Alfa Laval AB		212		8,507
Assa Abloy AB, Class B		734		21,194
Atlas Copco AB, Class A		1,972		34,022
Atlas Copco AB, Class B		1,144		17,007
Beijer Ref AB, Class B		284		3,821
Boliden AB		495		15,480
Epiroc AB, Class A		471		9,481
Epiroc AB, Class B		300		5,259
EQT AB		415		11,743
Essity AB, Class B		139		3,451
Evolution AB (e)		42		5,005
Fastighets AB Balder, Class B (a)		151		1,075
Getinge AB, Class B		53		1,173
H & M Hennes & Mauritz AB, Class B		148		2,591
Hexagon AB, Class B		478		5,738
Holmen AB, Class B		137		5,808


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Sweden — continued
Husqvarna AB, Class B		260		2,152
Industrivarden AB, Class A		155		5,060
Industrivarden AB, Class C		169		5,511
Indutrade AB		201		5,245
Investment AB Latour, Class B		109		2,851
Investor AB, Class B		2,023		46,909
L E Lundbergforetagen AB, Class B		88		4,812
Lifco AB, Class B		172		4,236
Nibe Industrier AB, Class B		1,113		7,819
Saab AB, Class B		59		3,586
Sagax AB, Class B		47		1,295
Sandvik AB		780		16,942
Securitas AB, Class B		362		3,558
Skandinaviska Enskilda Banken AB, Class A		1,857		25,679
Skanska AB, Class B		249		4,536
SKF AB, Class B		253		5,088
Svenska Cellulosa AB SCA, Class B		1,096		16,424
Svenska Handelsbanken AB, Class A		1,701		18,497
Swedbank AB, Class A		994		20,108
Swedish Orphan Biovitrum AB (a)		44		1,159
Tele2 AB, Class B		124		1,063
Telefonaktiebolaget LM Ericsson, Class B		683		4,301
Telia Co. AB		540		1,375
Volvo AB, Class A		132		3,493
Volvo AB, Class B		1,127		29,276
Volvo Car AB, Class B (a)		139		449


				392,779

Switzerland — 16.3%
ABB Ltd. (Registered)		1,175		52,179
Adecco Group AG (Registered)		117		5,749
Alcon, Inc.		116		9,041
Avolta AG (a)		23		888
Bachem Holding AG, Class B		8		604
Baloise Holding AG (Registered)		100		15,754
Banque Cantonale Vaudoise (Registered)		35		4,524
Barry Callebaut AG (Registered)		7		11,794
BKW AG		15		2,601
Chocoladefabriken Lindt & Spruengli AG		2		22,339
Chocoladefabriken Lindt & Spruengli AG (Registered)		— (h)		26,690
Cie Financiere Richemont SA, Class A (Registered)		571		78,846
Clariant AG (Registered) (a)		390		5,756
Coca-Cola HBC AG (a)		745		21,873
DSM-Firmenich AG		337		34,262
EMS-Chemie Holding AG (Registered)		13		10,353
Geberit AG (Registered)		25		15,746
Givaudan SA (Registered)		17		69,420
Glencore plc		21,326		128,189
Helvetia Holding AG (Registered)		82		11,242
Holcim AG (a)		945		74,185
Julius Baer Group Ltd.		240		13,488


SECURITY DESCRIPTION	SHARES		VALUE ($)

Switzerland — continued
Kuehne + Nagel International AG (Registered)		40		13,762
Logitech International SA (Registered)		38		3,621
Lonza Group AG (Registered)		17		7,261
Nestle SA (Registered)		5,225		605,628
Novartis AG (Registered)		1,862		188,106
Partners Group Holding AG		27		38,342
Roche Holding AG		667		194,603
Sandoz Group AG (a)		373		12,002
Schindler Holding AG		30		7,606
Schindler Holding AG (Registered)		17		3,947
SGS SA (Registered)		110		9,470
SIG Group AG (a)		553		12,746
Sika AG (Registered)		277		90,183
Sonova Holding AG (Registered)		12		3,874
Straumann Holding AG (Registered)		26		4,141
Swatch Group AG (The)		32		8,725
Swatch Group AG (The) (Registered)		56		2,931
Swiss Life Holding AG (Registered)		65		44,949
Swiss Prime Site AG (Registered)		18		1,925
Swiss Re AG		662		74,447
Swisscom AG (Registered)		6		3,612
Temenos AG (Registered)		14		1,342
UBS Group AG (Registered)		3,841		119,297
VAT Group AG (e)		20		10,021
Zurich Insurance Group AG		321		167,868


				2,245,932

Taiwan — 1.9%
Alchip Technologies Ltd.		31		3,326
ASE Technology Holding Co. Ltd.		1,287		5,640
eMemory Technology, Inc.		27		2,147
Global Unichip Corp.		37		2,091
Globalwafers Co. Ltd.		91		1,737
MediaTek, Inc.		638		21,067
Nanya Technology Corp.		521		1,322
Novatek Microelectronics Corp.		243		4,087
Powerchip Semiconductor Manufacturing Corp.		1,282		1,228
Realtek Semiconductor Corp.		205		3,144
Taiwan Semiconductor Manufacturing Co. Ltd.		10,349		198,406
United Microelectronics Corp.		4,727		8,054
Vanguard International Semiconductor Corp.		379		1,005
Winbond Electronics Corp.		1,317		1,304


				254,558

United Arab Emirates — 0.0%
NMC Health plc (a) (bb) (cc)		116		—

United Kingdom — 17.7%
3i Group plc		1,355		41,700
abrdn plc		2,619		5,954
Admiral Group plc		630		21,541


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
United Kingdom — continued
Anglo American plc		2,589		64,790
Ashtead Group plc		420		29,184
Associated British Foods plc		157		4,739
AstraZeneca plc		1,756		236,818
Auto Trader Group plc (e)		419		3,845
Aviva plc		6,621		36,638
BAE Systems plc		2,921		41,351
Barclays plc		21,026		41,171
Barratt Developments plc		447		3,203
Berkeley Group Holdings plc		48		2,865
BP plc		17,814		105,603
British American Tobacco plc		967		28,282
BT Group plc, Class A		2,948		4,646
Bunzl plc		324		13,156
Burberry Group plc		477		8,610
Centrica plc		2,471		4,431
Coca-Cola Europacific Partners plc		651		43,425
Compass Group plc		780		21,339
Croda International plc		285		18,318
Diageo plc		7,586		275,343
Endeavour Mining plc		375		8,400
Entain plc		292		3,688
GSK plc		4,639		85,671
Haleon plc		2,521		10,321
Halma plc		173		5,033
Hargreaves Lansdown plc		499		4,660
HSBC Holdings plc		27,122		219,418
Imperial Brands plc		387		8,922
Informa plc		630		6,262
InterContinental Hotels Group plc		75		6,783
Intertek Group plc		155		8,377
J Sainsbury plc		748		2,883
JD Sports Fashion plc		1,169		2,467
Kingfisher plc		853		2,644
Land Securities Group plc		319		2,864
Legal & General Group plc		14,455		46,195
Lloyds Banking Group plc		88,451		53,649
London Stock Exchange Group plc		580		68,526
M&G plc		3,113		8,811
Melrose Industries plc		1,296		9,366
Mondi plc		990		19,371
National Grid plc		1,678		22,605
NatWest Group plc		8,019		22,335
Next plc		55		5,670
Ocado Group plc (a)		261		2,524
Pearson plc		293		3,596
Persimmon plc		144		2,547
Phoenix Group Holdings plc		1,813		12,346
Reckitt Benckiser Group plc		326		22,529
RELX plc		1,811		71,858
Rentokil Initial plc		2,418		13,629
Rio Tinto plc		2,294		170,632
Rolls-Royce Holdings plc (a)		8,072		30,791
Sage Group plc (The)		467		6,975
Schroders plc		1,119		6,118


SECURITY DESCRIPTION	SHARES		VALUE ($)

United Kingdom — continued
Segro plc		531		5,986
Severn Trent plc		123		4,045
Shell plc		6,907		226,097
Smith & Nephew plc		398		5,466
Smiths Group plc		334		7,504
Spirax-Sarco Engineering plc		71		9,448
SSE plc		497		11,730
St James’s Place plc		761		6,623
Standard Chartered plc		3,190		27,070
Taylor Wimpey plc		1,593		2,983
Tesco plc		3,233		11,978
Unilever plc		1,138		55,073
United Utilities Group plc		312		4,208
Vodafone Group plc		10,471		9,145
Whitbread plc		88		4,112
Wise plc, Class A (a)		858		9,546
WPP plc		490		4,685


				2,441,117

United States — 0.0% (g)
Parade Technologies Ltd.		32		1,247

Total Common Stocks (Cost $11,451,743)				13,525,494

Preferred Stocks — 0.1%
Germany — 0.1%
Bayerische Motoren Werke AG		16		1,623
Dr Ing hc F Porsche AG (e)		26		2,307
Henkel AG & Co. KGaA		37		2,949
Porsche Automobil Holding SE		36		1,861
Sartorius AG		6		2,206
Volkswagen AG		44		5,468

Total Preferred Stocks (Cost $14,745)				16,414


	PRINCIPAL AMOUNT ($)
Short-Term Investments — 1.0%
Time Deposits — 1.0%
Australia & New Zealand Banking Group Ltd., 4.68%, 01/02/2024		78		78
BNP Paribas SA, 0.55%, 01/03/2024	CHF	8,007		9,520
Brown Brothers Harriman, 2.13%, 01/02/2024	DKK	10,571		1,565
3.19%, 01/02/2024	NOK	13,411		1,320
4.16%, 01/02/2024	GBP	3,027		3,859
Citibank NA, 2.71%, 01/02/2024	EUR	6,944		7,666
4.68%, 01/02/2024		11,264		11,264
Royal Bank of Canada, 2.71%, 01/02/2024	EUR	52,085		57,500
4.16%, 01/02/2024	GBP	24,628		31,392
4.68%, 01/02/2024		2,771		2,771



SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Short-Term Investments — continued
Time Deposits — continued
Skandinaviska Enskilda Banken AB, (1.49%), 01/02/2024	SEK	7,850		778
Sumitomo Mitsui Banking Corp.,
(0.34%), 01/04/2024	JPY	133,157		944
4.68%, 01/02/2024		5,367		5,367
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 01/02/2024		2,932		2,932

Total Short-Term Investments (Cost $136,956)				136,956


Total Investments — 99.4% (Cost—$11,603,444)				13,678,864

Other Assets in Excess of Liabilities — 0.6%				85,565


NET ASSETS — 100.0%				$13,764,429

Percentages indicated are based on net assets.

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF DECEMBER 31, 2023


CVA		— Dutch Certification
OYJ		— Public Limited Company
REIT		— Real Estate Investment Trust
(a)		— Non-income producing security.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
CHF		— Swiss Franc
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
JPY		— Japanese Yen
NOK		— Norwegian Krone
SEK		— Swedish Krona
USD		— United States Dollar

Summary of Investments by Industry, December 31, 2023

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Pharmaceuticals		12.7	%

Semiconductors		9.8	%

Banks		9.4	%

Insurance		9.2	%

Beverages		6.1	%

Food		5.4	%

Software		4.9	%

Chemicals		4.5	%

Oil & Gas		4.1	%

Mining		3.1	%

Apparel		3.0	%

Building Materials		2.7	%

Commercial Services		2.1	%

Electric		1.8	%

Aerospace/Defense		1.7	%

Diversified Financial Services		1.4	%

Retail		1.2	%

Auto Manufacturers		1.2	%

Others (Each less than 1.0%)		14.7	%

Short-Term Investments		1.0	%


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — 108.3%
Asset-Backed Securities — 0.6%
American Express Credit Account Master Trust, Series 2023-1, Class A, 4.87%, 05/15/2028		2,200		2,217
Anchorage Capital CLO 11 Ltd., (Cayman Islands), Series 2019-11A, Class AR, (CME Term SOFR 3 Month + 1.40%), 6.81%, 07/22/2032 (e) (aa)		1,900		1,891
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (CME Term SOFR 3 Month + 1.31%), 6.71%, 01/15/2032 (e) (aa)		3,300		3,298
Atlas Senior Loan Fund Ltd., (Cayman Islands), Series 2017-8A, Class A, (CME Term SOFR 3 Month + 1.41%), 6.81%, 01/16/2030 (e) (aa)		2,431		2,425
Benefit Street Partners CLO XVII Ltd., (Cayman Islands), Series 2019-17A, Class AR, (CME Term SOFR 3 Month + 1.34%), 6.74%, 07/15/2032 (e) (aa)		4,300		4,276
CARLYLE US CLO 2017-1 Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (CME Term SOFR 3 Month + 1.26%), 6.68%, 04/20/2031 (e) (aa)		1,728		1,728
CIFC Funding Ltd., (Cayman Islands), Series 2017-4A, Class A1R, (CME Term SOFR 3 Month + 1.21%), 6.61%, 10/24/2030 (e) (aa)		2,700		2,695
Crestline Denali CLO XV Ltd., (Cayman Islands), Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.29%), 6.71%, 04/20/2030 (e) (aa)		3,516		3,509
Dryden 27 R Euro CLO 2017 DAC, (Ireland), Series 2017-27A, Class AR, (ICE LIBOR EUR 3 Month + 0.66%), 4.60%, 04/15/2033 (e) (aa)	EUR	7,561		8,204
Dryden Senior Loan Fund, (Cayman Islands), Series 2014-36A, Class AR3, (CME Term SOFR 3 Month + 1.28%), 6.68%, 04/15/2029 (e) (aa)		4,295		4,285
Ford Credit Auto Owner Trust, Series 2020-B, Class A4, 0.79%, 11/15/2025		459		455
Generate CLO 3 Ltd., (Cayman Islands), Series 3A, Class A2R, (CME Term SOFR 3 Month + 1.83%), 0.00%, 10/20/2036 (e) (aa)		2,400		2,400
GM Financial Consumer Automobile Receivables Trust,
Series 2020-2, Class A4, 1.74%, 08/18/2025		312		311
Series 2023-1, Class A3, 4.66%, 02/16/2028		1,850		1,844
Series 2023-1, Class A4, 4.59%, 07/17/2028		230		229


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Asset-Backed Securities — continued
KKR CLO Trust, (Cayman Islands), Series 39A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.85%, 10/15/2034 (e) (aa)		600		600
Madison Park Funding XXVI Ltd., (Cayman Islands), Series 2017-26A, Class AR, (CME Term SOFR 3 Month + 1.46%), 6.85%, 07/29/2030 (e) (aa)		2,276		2,276
Magnetite XVIII Ltd., (Cayman Islands), Series 2016-18A, Class AR2, (CME Term SOFR 3 Month + 1.14%), 6.52%, 11/15/2028 (e) (aa)		4,122		4,118
Marathon CLO IX Ltd., (Cayman Islands), Series 2017-9A, Class A1AR, (CME Term SOFR 3 Month + 1.41%), 6.81%, 04/15/2029 (e) (aa)		103		103
Marble Point CLO X Ltd., (Cayman Islands), Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.30%), 6.70%, 10/15/2030 (e) (aa)		1,250		1,249
Mountain View CLO 2017-1 LLC, (Cayman Islands),
Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.35%), 6.75%, 10/16/2029 (e) (aa)		695		695
Series 2017-2A, Class AR, (CME Term SOFR 3 Month + 1.30%), 6.70%, 01/16/2031 (e) (aa)		2,511		2,507
OCP CLO 2017-14 Ltd., (Cayman Islands), Series 2017-14A, Class A1A, (CME Term SOFR 3 Month + 1.41%), 6.78%, 11/20/2030 (e) (aa)		4,121		4,114
Palmer Square CLO 2022-1 Ltd., (Cayman Islands), Series 2022-1A, Class A, (CME Term SOFR 3 Month + 1.32%), 6.74%, 04/20/2035 (e) (aa)		600		596
Venture 33 CLO Ltd., (Cayman Islands), Series 2018-33A, Class A1LR, (CME Term SOFR 3 Month + 1.32%), 6.72%, 07/15/2031 (e) (aa)		689		689
Vibrant CLO VI Ltd., (Cayman Islands), Series 2017-6A, Class AR, (CME Term SOFR 3 Month + 1.21%), 6.58%, 06/20/2029 (e) (aa)		630		629
Voya CLO 2017-1 Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (CME Term SOFR 3 Month + 1.21%), 6.61%, 04/17/2030 (e) (aa)		3,569		3,562
Wellfleet CLO 2015-1 Ltd., (Cayman Islands), Series 2015-1A, Class AR4, (CME Term SOFR 3 Month + 1.15%), 6.57%, 07/20/2029 (e) (aa)		392		391

Total Asset-Backed Securities (Cost $62,318)				61,296


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Collateralized Mortgage Obligations — 2.3%
Citigroup Mortgage Loan Trust,
Series 2021-INV1, Class A3A, 2.50%, 05/25/2051 (e) (z)		5,746		4,710
Series 2021-INV3, Class A11, (United States 30 Day Average SOFR + 0.85%), 5.00%, 05/25/2051 (e) (aa)		415		382
FHLMC REMICS,
Series 3404, Class SA, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.55%, 01/15/2038 (aa)		1,091		99
Series 3680, Class SA, IF, IO, (4.89% - United States 30 Day Average SOFR), 0.00%, 06/15/2040 (aa)		2,096		115
Series 4023, Class S, IF, IO, (6.14% - United States 30 Day Average SOFR), 0.80%, 03/15/2042 (aa)		1,012		92
Series 4056, Class GS, IF, IO, (6.54% - United States 30 Day Average SOFR), 1.20%, 12/15/2041 (aa)		453		41
Series 4134, Class PI, IO, 3.00%, 11/15/2042		442		49
Series 4147, Class JI, IO, 3.50%, 12/15/2032		4,096		347
Series 4165, Class TI, IO, 3.00%, 12/15/2042		459		30
Series 4479, Class AI, IO, 3.50%, 09/15/2025		2,151		42
Series 4598, Class IK, IO, 3.50%, 03/15/2046		583		100
Series 4710, Class EI, IO, 3.50%, 11/15/2031		2,913		203
Series 4751, Class EF, (United States 30 Day Average SOFR + 0.36%), 5.70%, 05/15/2041 (aa)		2,577		2,497
Series 4764, Class WF, (United States 30 Day Average SOFR + 0.41%), 5.75%, 02/15/2048 (aa)		4,586		4,414
Series 4790, Class F, (United States 30 Day Average SOFR + 0.30%), 5.64%, 10/15/2043 (aa)		1,756		1,711
Series 4825, Class SE, IF, IO, (6.09% - United States 30 Day Average SOFR), 0.75%, 09/15/2048 (aa)		3,962		500
Series 4830, Class IL, IO, 4.50%, 04/15/2048		1,673		317
Series 4888, Class IB, IO, 4.00%, 03/15/2047		322		49
Series 4930, Class IP, IO, 3.50%, 09/25/2048		5,124		608
Series 4990, Class MI, IO, 4.00%, 07/25/2050		4,125		927


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Collateralized Mortgage Obligations — continued
Series 5003, Class AS, IF, IO, (5.99% - United States 30 Day Average SOFR), 0.65%, 08/25/2050 (aa)		6,971		978
Series 5013, Class IQ, IO, 3.50%, 09/25/2050		4,954		769
Series 5016, Class PI, IO, 3.00%, 09/25/2050		10,615		1,710
Series 5023, Class BI, IO, 2.00%, 10/25/2050		21,687		2,559
Series 5034, Class MI, IO, 2.00%, 11/25/2050		1,928		238
Series 5034, Class YI, IO, 4.00%, 11/25/2050		2,655		482
Series 5045, Class DI, IO, 2.50%, 11/25/2050		2,738		372
Series 5047, Class CI, IO, 2.00%, 12/25/2050		1,694		217
Series 5056, Class PI, IO, 2.50%, 12/25/2050		8,304		1,020
Series 5062, Class EI, IO, 2.00%, 01/25/2051		3,640		470
Series 5065, Class IG, IO, 3.00%, 01/25/2051		3,197		468
Series 5069, Class DI, IO, 3.50%, 02/25/2041		1,271		155
Series 5069, Class LI, IO, 2.50%, 02/25/2051		14,458		2,021
Series 5071, Class IN, IO, 4.00%, 08/25/2050		5,378		1,167
Series 5081, Class EI, IO, 2.50%, 03/25/2051		20,105		2,901
Series 5087, Class IL, IO, 3.00%, 03/25/2051		1,942		294
Series 5109, Class IE, IO, 2.50%, 05/25/2051		1,007		139
Series 5124, Class LI, IO, 4.50%, 07/25/2051		11,229		2,424
Series 5157, Class IA, IO, 3.00%, 10/25/2051		48,683		7,731
Series 5202, Class UI, IO, 3.50%, 01/25/2052		4,132		714
Series 5210, Class AI, IO, 3.50%, 01/25/2042		4,080		534
Series 5227, Class EI, IO, 4.00%, 04/25/2050		4,339		445
FHLMC STRIPs, Series 365, Class C2, IO, 4.00%, 06/15/2049		3,802		699
FNMA Interest Strip,
Series 413, Class C32, IO, 4.00%, 01/25/2039		1,367		216
Series 427, Class C77, IO, 2.50%, 09/25/2051		45,728		6,559
Series 429, Class 161, IO, 2.00%, 03/25/2051		2,982		272


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Collateralized Mortgage Obligations — continued
Series 429, Class 162, IO, 2.00%, 03/25/2051		2,323		212
Series 429, Class 163, IO, 2.00%, 02/25/2051		550		51
Series 429, Class 164, IO, 2.00%, 03/25/2051		1,021		93
FNMA Interest STRIP,
Series 379, Class S56, IF, IO, (7.79% -United States 30 Day Average SOFR), 2.45%, 05/25/2037 (aa)		356		49
Series 405, Class 1, PO, Zero Coupon, 10/25/2040		290		227
Series 406, Class 23, IO, 6.00%, 11/25/2040 (z)		135		30
FNMA REMICS,
Series 2007-30, Class JS, IF, IO, (6.33% - United States 30 Day Average SOFR), 0.99%, 04/25/2037 (aa)		1,489		154
Series 2012-53, Class IO, IO, 3.50%, 05/25/2027		336		11
Series 2012-98, Class JI, IO, 3.00%, 04/25/2027		461		5
Series 2012-135, Class SB, IF, IO, (5.99% - United States 30 Day Average SOFR), 0.65%, 12/25/2042 (aa)		917		105
Series 2013-30, Class CA, 1.50%, 04/25/2043		1,186		991
Series 2013-109, Class BO, PO, Zero Coupon, 07/25/2043		411		245
Series 2014-34, Class US, IF, (8.37% - United States 30 Day Average SOFR), 0.00%, 06/25/2044 (aa)		67		56
Series 2014-47, Class FB, (United States 30 Day Average SOFR + 0.46%), 5.62%, 08/25/2054 (aa)		2,575		2,513
Series 2016-26, Class SY, IF, (6.77% - United States 30 Day Average SOFR), 0.00%, 11/25/2042 (aa)		514		333
Series 2016-40, Class EF, (United States 30 Day Average SOFR + 0.56%), 5.37%, 07/25/2046 (aa)		655		651
Series 2016-63, Class AS, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.55%, 09/25/2046 (aa)		1,488		182
Series 2016-71, Class NI, IO, 3.50%, 04/25/2046		752		96
Series 2017-97, Class BF, (United States 30 Day Average SOFR + 0.41%), 5.75%, 12/25/2047 (aa)		4,553		4,403


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Collateralized Mortgage Obligations — continued
Series 2018-67, Class HF, (United States 30 Day Average SOFR + 0.41%), 5.75%, 09/25/2048 (aa)		2,417		2,332
Series 2018-67, Class SH, IF, IO, (6.09% - United States 30 Day Average SOFR), 0.75%, 09/25/2048 (aa)		3,032		361
Series 2018-77, Class PF, (United States 30 Day Average SOFR + 0.41%), 5.75%, 10/25/2048 (aa)		1,955		1,885
Series 2019-48, Class IB, IO, 0.66%, 06/25/2039 (z)		20,551		418
Series 2019-68, Class US, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.55%, 11/25/2049 (aa)		6,005		751
Series 2019-78, Class DI, IO, 4.50%, 11/25/2049		591		89
Series 2020-42, Class CI, IO, 3.00%, 06/25/2050		12,224		1,899
Series 2020-60, Class BI, IO, 3.50%, 09/25/2050		11,047		2,012
Series 2020-68, Class CI, IO, 3.00%, 10/25/2050		8,370		1,383
Series 2020-74, Class PI, IO, 2.00%, 12/25/2049		10,149		1,037
Series 2020-86, Class PI, IO, 2.50%, 12/25/2050		3,215		489
Series 2020-89, Class IM, IO, 2.00%, 12/25/2050		9,609		1,192
Series 2020-89, Class LI, IO, 3.00%, 12/25/2050		11,126		1,835
Series 2020-99, Class IQ, IO, 3.00%, 01/25/2051		920		162
Series 2021-3, Class TI, IO, 2.50%, 02/25/2051		2,569		413
Series 2021-8, Class YF, (United States 30 Day Average SOFR + 0.20%), 5.47%, 03/25/2061 (aa)		8,700		8,472
Series 2021-47, Class PI, IO, 2.50%, 07/25/2051		645		81
Series 2022-52, Class IH, IO, 3.00%, 03/25/2051		10,754		1,991
GNMA,
Series 2015-H03, Class FA, (CME Term SOFR 1 Month + 0.61%), 5.94%, 12/20/2064 (aa)		35		35
Series 2015-H33, Class FA, (CME Term SOFR 1 Month + 0.77%), 6.10%, 12/20/2065 (aa)		8,572		8,504
Series 2017-H03, Class HA, 3.00%, 01/20/2067		4,055		3,921


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Collateralized Mortgage Obligations — continued
Series 2019-65, Class ID, IO, 4.00%, 02/20/2049		1,355		174
Series 2019-H08, Class FE, (CME Term SOFR 1 Month + 0.76%), 6.09%, 01/20/2069 (aa)		4,024		3,936
Series 2019-H16, Class FD, (CME Term SOFR 1 Month + 0.91%), 6.24%, 10/20/2069 (aa)		2,274		2,266
Series 2020-142, Class LI, IO, 2.50%, 09/20/2050		10,660		1,415
Series 2020-142, Class MT, IF, IO, (6.04% - CME Term SOFR 1 Month), 0.05%, 07/20/2047 (aa)		12,819		23
Series 2020-142, Class TN, IF, IO, (6.09% - CME Term SOFR 1 Month), 0.10%, 09/20/2047 (aa)		17,049		69
Series 2020-H12, Class F, (CME Term SOFR 1 Month + 0.61%), 5.94%, 07/20/2070 (aa)		587		571
Series 2020-H13, Class FA, (CME Term SOFR 1 Month + 0.56%), 5.89%, 07/20/2070 (aa)		8,115		7,857
Series 2020-H14, Class FH, (CME Term SOFR 1 Month + 1.36%), 6.69%, 08/20/2070 (aa)		6,670		6,774
Series 2020-H15, Class FH, (CME Term SOFR 1 Month + 1.16%), 6.49%, 07/20/2070 (aa)		2,752		2,734
Series 2020-H15, Class FK, (CME Term SOFR 1 Month + 1.36%), 6.69%, 04/20/2070 (aa)		4,892		4,895
Series 2020-H16, Class FN, (CME Term SOFR 1 Month + 1.36%), 6.69%, 09/20/2070 (aa)		1,823		1,851
Series 2021-23, Class GI, IO, 2.00%, 02/20/2051		11,400		1,226
Series 2021-122, Class IT, IO, 2.50%, 07/20/2051		11,631		1,567
Series 2021-206, Class IG, IO, 2.50%, 09/20/2051		10,076		1,168
Series 2021-223, Class QI, IO, 2.50%, 10/20/2051		10,591		1,143
Series 2021-H03, Class ML, 7.54%, 01/20/2071 (z)		8,637		8,771
Series 2021-H05, Class FJ, (United States 30 Day Average SOFR + 0.75%), 6.09%, 03/20/2071 (aa)		301		296
Series 2021-H12, Class DF, (United States 30 Day Average SOFR + 1.50%), 6.84%, 08/20/2071 (aa)		2,006		2,016
Series 2021-H14, Class HF, (United States 30 Day Average SOFR + 1.50%), 6.84%, 09/20/2071 (aa)		7,840		7,981


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Collateralized Mortgage Obligations — continued
Series 2021-H16, Class F, (United States 30 Day Average SOFR + 1.50%), 6.84%, 09/20/2071 (aa)		9,609		9,805
Series 2022-H09, Class FA, (United States 30 Day Average SOFR + 0.67%), 6.01%, 04/20/2072 (aa)		556		539
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.24%, 01/20/2073 (aa)		2,952		2,935
Series 2023-H02, Class FL, (United States 30 Day Average SOFR + 0.90%), 6.24%, 01/20/2073 (aa)		8,563		8,515
Series 2023-H02, Class JF, (United States 30 Day Average SOFR + 0.90%), 6.24%, 01/20/2073 (aa)		6,610		6,572
Series 2023-H03, Class FA, (United States 30 Day Average SOFR + 0.87%), 6.21%, 02/20/2073 (aa)		11,789		11,700
Series 2023-H09, Class FA, (United States 30 Day Average SOFR + 0.80%), 6.14%, 04/20/2073 (aa)		1,994		1,970
Series 2023-H11, Class FC, (United States 30 Day Average SOFR + 1.10%), 6.44%, 05/20/2073 (aa)		8,739		8,712
Series 2023-H11, Class FD, (United States 30 Day Average SOFR + 1.15%), 6.49%, 05/20/2073 (aa)		1,496		1,498
Series 2023-H15, Class FB, (United States 30 Day Average SOFR + 1.00%), 6.34%, 03/20/2073 (aa)		2,004		1,974
Series 2023-H27, Class FD, (United States 30 Day Average SOFR + 1.10%), 6.44%, 11/20/2073 (aa)		5,022		5,055
GS Mortgage-Backed Securities Trust, Series 2021-GR2, Class A2, 2.50%, 02/25/2052 (e) (z)		1,071		876
IMS Ecuadorian Mortgage Trust, Series 2021-1, Class GA, 3.40%, 08/18/2043 (e)		1,840		1,710
MFA Trust, Series 2020-NQM2, Class A1, 1.38%, 04/25/2065 (e) (z)		2,918		2,689
Morgan Stanley Residential Mortgage Loan Trust, Series 2021-6, Class A6, (United States 30 Day Average SOFR + 0.85%), 5.00%, 09/25/2051 (e) (aa)		1,818		1,674
OBX Trust, Series 2021-INV2, Class A11, (United States 30 Day Average SOFR + 0.90%), 5.00%, 10/25/2051 (e) (aa)		424		390
PMT Loan Trust,
Series 2021-INV1, Class A11, (United States 30 Day Average SOFR + 0.90%), 5.00%, 07/25/2051 (e) (aa)		8,439		7,782
Series 2021-INV1, Class A3, 2.50%, 07/25/2051 (e) (z)		4,011		3,287

Total Collateralized Mortgage Obligations (Cost $254,904)				236,872


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Commercial Mortgage-Backed Securities — 0.5%
AREIT LLC, (Bermuda), Series 2023-CRE8, Class A, (CME Term SOFR 1 Month + 2.11%), 7.47%, 02/17/2028 (e) (aa)		1,700		1,681
Banc of America Commercial Mortgage Trust, Series 2015-UBS7, Class ASB, 3.43%, 09/15/2048		244		239
BANK,
Series 2017-BNK7, Class AS, 3.75%, 09/15/2060		750		696
Series 2018-BN13, Class A5, 4.22%, 08/15/2061 (z)		500		480
Series 2018-BN15, Class A4, 4.41%, 11/15/2061 (z)		1,235		1,200
Barclays Commercial Mortgage Trust,
Series 2019-C5, Class A4, 3.06%, 11/15/2052		1,000		900
Series 2019-C5, Class ASB, 2.99%, 11/15/2052		500		474
BBCMS Mortgage Trust,
Series 2020-C6, Class ASB, 2.60%, 02/15/2053		600		555
Series 2020-C7, Class A5, 2.04%, 04/15/2053		210		177
BCP Trust, Series 2021-330N, Class A, (CME Term SOFR 1 Month + 0.91%), 6.28%, 06/15/2038 (e) (aa)		2,800		2,512
Benchmark Mortgage Trust,
Series 2020-B16, Class AM, 2.94%, 02/15/2053 (z)		350		296
Series 2020-B17, Class A5, 2.29%, 03/15/2053		500		417
Series 2020-B20, Class A5, 2.03%, 10/15/2053		750		594
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.73%, 09/15/2036 (e) (aa)		4,600		4,287
BX Commercial Mortgage Trust, Series 2021-21M, Class A, (CME Term SOFR 1 Month + 0.84%), 6.21%, 10/15/2036 (e) (aa)		2,025		1,985
CD Mortgage Trust, Series 2017-CD5, Class AAB, 3.22%, 08/15/2050		717		692
CGMS Commercial Mortgage Trust, Series 2017-B1, Class A4, 3.46%, 08/15/2050		1,100		1,029
Citigroup Commercial Mortgage Trust,
Series 2014-GC23, Class AS, 3.86%, 07/10/2047		250		241
Series 2014-GC25, Class A4, 3.64%, 10/10/2047		500		490
Series 2015-GC33, Class AS, 4.11%, 09/10/2058		500		463


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Commercial Mortgage-Backed Securities — continued
Series 2019-GC41, Class AS, 3.02%, 08/10/2056		250		214
COMM Mortgage Trust, Series 2016-CR28, Class ASB, 3.53%, 02/10/2049		199		195
CSAIL Commercial Mortgage Trust, Series 2016-C7, Class ASB, 3.31%, 11/15/2049		182		178
CSMC, Series 2020-FACT, Class A, (CME Term SOFR 1 Month + 1.71%), 7.08%, 10/15/2037 (e) (aa)		2,100		2,016
FHLMC Multifamily Structured Pass Through Certificates,
Series K047, Class A2, 3.33%, 05/25/2025 (z)		1,000		979
Series K049, Class A2, 3.01%, 07/25/2025		250		243
Series K057, Class A2, 2.57%, 07/25/2026		850		812
Series K063, Class A2, 3.43%, 01/25/2027 (z)		1,000		972
Series K071, Class A2, 3.29%, 11/25/2027		500		481
Series K073, Class A2, 3.35%, 01/25/2028		1,000		963
Series K075, Class A2, 3.65%, 02/25/2028 (z)		500		487
Series K094, Class A2, 2.90%, 06/25/2029		112		104
Series K103, Class A2, 2.65%, 11/25/2029		500		456
Series K108, Class A2, 1.52%, 03/25/2030		304		258
Series K117, Class A2, 1.41%, 08/25/2030		1,500		1,246
Series K118, Class A2, 1.49%, 09/25/2030		500		417
Series K725, Class A2, 3.00%, 01/25/2024		104		104
Series K726, Class A2, 2.91%, 04/25/2024		525		520
Series K729, Class A2, 3.14%, 10/25/2024		200		197
Series K737, Class A2, 2.53%, 10/25/2026		650		618
Series K-152, Class A2, 3.78%, 11/25/2032 (z)		2,500		2,384
Series K-161, Class A2, 4.90%, 10/25/2033		1,500		1,554
FNMA-ACES,
Series 2015-M10, Class A2, 3.09%, 04/25/2027 (z)		447		431


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Commercial Mortgage-Backed Securities — continued
Series 2016-M5, Class A2, 2.47%, 04/25/2026		441		421
Series 2017-M11, Class A2, 2.98%, 08/25/2029		961		897
Series 2017-M12, Class A2, 3.06%, 06/25/2027 (z)		90		86
Series 2017-M13, Class A2, 2.93%, 09/25/2027 (z)		506		482
Series 2018-M8, Class A2, 3.30%, 06/25/2028 (z)		905		871
Series 2020-M46, Class A2, 1.32%, 05/25/2030		1,000		840
GS Mortgage Securities Trust, Series 2019-GSA1, Class A4, 3.05%, 11/10/2052		250		223
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2016-C29, Class A4, 3.33%, 05/15/2049		500		475
Series 2016-C31, Class A5, 3.10%, 11/15/2049		500		466
Series 2016-C32, Class A4, 3.72%, 12/15/2049		1,000		950
UBS Commercial Mortgage Trust,
Series 2018-C11, Class ASB, 4.12%, 06/15/2051		627		612
Series 2018-C12, Class A5, 4.30%, 08/15/2051		1,380		1,312
Wells Fargo Commercial Mortgage Trust,
Series 2014-LC18, Class A5, 3.41%, 12/15/2047		420		409
Series 2015-C27, Class A5, 3.45%, 02/15/2048		918		887
Series 2015-LC20, Class A5, 3.18%, 04/15/2050		500		483
Series 2017-C39, Class A5, 3.42%, 09/15/2050		1,000		936
Series 2017-C40, Class A4, 3.58%, 10/15/2050		550		520
Series 2018-C44, Class A5, 4.21%, 05/15/2051		1,000		961
Series 2021-C60, Class A4, 2.34%, 08/15/2054		550		457

Total Commercial Mortgage-Backed Securities (Cost $52,559)				47,525

Corporate Bonds — 42.4%
Basic Materials — 1.1%
Chemicals — 0.5%
Air Liquide Finance SA, (France),
Reg. S, 0.63%, 06/20/2030	EUR	800		773
Reg. S, 0.75%, 06/13/2024	EUR	1,200		1,308


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Chemicals — continued
Air Products and Chemicals, Inc.,
0.50%, 05/05/2028	EUR	1,000		997
0.80%, 05/05/2032	EUR	2,000		1,835
1.00%, 02/12/2025	EUR	4,450		4,789
2.80%, 05/15/2050		15		11
4.00%, 03/03/2035	EUR	1,600		1,863
Akzo Nobel NV, (Netherlands),
Reg. S, 1.50%, 03/28/2028	EUR	1,000		1,037
Reg. S, 2.00%, 03/28/2032	EUR	1,000		991
Argentum Netherlands BV for Givaudan SA, (Netherlands),
Reg. S, 1.13%, 09/17/2025	EUR	800		851
Reg. S, 2.00%, 09/17/2030	EUR	1,000		1,042
Arkema SA, (France),
Reg. S, 0.75%, 12/03/2029	EUR	1,000		964
Reg. S, (EUR Swap Rate 5 Year + 1.57%), 1.50%, 10/21/2025 (x) (aa)	EUR	1,000		1,021
Reg. S, 1.50%, 04/20/2027	EUR	1,000		1,051
Brenntag Finance BV, (Netherlands),
Reg. S, 0.50%, 10/06/2029	EUR	500		472
Reg. S, 1.13%, 09/27/2025	EUR	1,000		1,062
Celanese US Holdings LLC, 6.35%, 11/15/2028		130		137
6.70%, 11/15/2033		15		16
CF Industries, Inc., 4.50%, 12/01/2026 (e)		1,800		1,761
Covestro AG, (Germany), Reg. S, 0.88%, 02/03/2026	EUR	1,875		1,981
Dow Chemical Co. (The), 4.55%, 11/30/2025		118		116
5.25%, 11/15/2041		600		591
6.90%, 05/15/2053		960		1,158
Ecolab, Inc., 1.00%, 01/15/2024	EUR	1,950		2,150
1.30%, 01/30/2031		266		218
1.65%, 02/01/2027		68		62
2.13%, 02/01/2032		458		391
2.70%, 12/15/2051		2		1
FMC Corp., 5.15%, 05/18/2026		675		674
5.65%, 05/18/2033		2,485		2,473
Givaudan Finance Europe BV, (Netherlands),
Reg. S, 1.00%, 04/22/2027	EUR	100		105
Reg. S, 4.13%, 11/28/2033	EUR	3,450		4,052
Huntsman International LLC, 4.50%, 05/01/2029		975		939
LANXESS AG, (Germany), Reg. S, 0.63%, 12/01/2029	EUR	500		449
Linde Finance BV, (Netherlands),
Reg. S, 0.25%, 05/19/2027	EUR	1,000		1,014
Reg. S, 0.55%, 05/19/2032	EUR	800		732
Reg. S, 1.00%, 04/20/2028	EUR	1,005		1,043
Linde plc, (Ireland),
Reg. S, 0.00%, 09/30/2026	EUR	500		509
Reg. S, 1.00%, 09/30/2051	EUR	1,500		1,003


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Chemicals — continued
Linde, Inc., 1.63%, 12/01/2025	EUR	350		375
LYB International Finance BV, (Netherlands), 4.88%, 03/15/2044		550		508
LYB International Finance II BV, (Netherlands), 0.88%, 09/17/2026	EUR	1,000		1,034
1.63%, 09/17/2031	EUR	1,000		959
3.50%, 03/02/2027		100		96
LYB International Finance III LLC, 3.38%, 10/01/2040		290		223
3.63%, 04/01/2051		217		158
PPG Industries, Inc., 0.88%, 11/03/2025	EUR	1,000		1,055
1.20%, 03/15/2026		35		32
1.40%, 03/13/2027	EUR	1,000		1,040
2.75%, 06/01/2029	EUR	1,000		1,079
RPM International, Inc., 2.95%, 01/15/2032		180		152
Syensqo SA, (Belgium), Reg. S, 2.75%, 12/02/2027	EUR	1,000		1,082
Westlake Corp., 1.63%, 07/17/2029	EUR	3,000		2,965
Yara International ASA, (Norway), 3.15%, 06/04/2030 (e)		1,000		871

				53,271

Forest Products & Paper — 0.0% (g)
Georgia-Pacific LLC, 8.88%, 05/15/2031		100		125
Mondi Finance Europe GmbH, (Austria), Reg. S, 2.38%, 04/01/2028	EUR	500		543
Mondi Finance plc, (United Kingdom),
Reg. S, 1.50%, 04/15/2024	EUR	500		548
Reg. S, 1.63%, 04/27/2026	EUR	1,000		1,065

				2,281

Iron/Steel — 0.1%
ArcelorMittal SA, (Luxembourg), Reg. S, 4.88%, 09/26/2026	EUR	1,500		1,707
Nucor Corp., 2.70%, 06/01/2030		63		57
2.98%, 12/15/2055		28		19
Reliance Steel & Aluminum Co., 1.30%, 08/15/2025		320		300
2.15%, 08/15/2030		1,395		1,184
Steel Dynamics, Inc., 3.25%, 01/15/2031		4,050		3,654

				6,921

Mining — 0.5%
Anglo American Capital plc, (United Kingdom),
Reg. S, 1.63%, 09/18/2025	EUR	1,000		1,071
Reg. S, 1.63%, 03/11/2026	EUR	1,000		1,061


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Mining — continued
Barrick PD Australia Finance Pty Ltd., (Australia), 5.95%, 10/15/2039		920		987
BHP Billiton Finance Ltd., (Australia),
Series 10, Reg. S, 3.25%, 09/24/2027	EUR	1,898		2,113
Series 12, Reg. S, 4.30%, 09/25/2042	GBP	3,000		3,514
Series 13, Reg. S, 3.13%, 04/29/2033	EUR	5,991		6,437
Series 17, Reg. S, 1.50%, 04/29/2030	EUR	2,175		2,147
BHP Billiton Finance USA Ltd., (Australia), 4.75%, 02/28/2028		600		607
4.88%, 02/27/2026		13		13
4.90%, 02/28/2033		275		282
5.00%, 09/30/2043		143		144
5.25%, 09/08/2030		89		92
5.25%, 09/08/2033		231		240
5.50%, 09/08/2053		735		804
Freeport-McMoRan, Inc., 4.13%, 03/01/2028		1,500		1,435
5.40%, 11/14/2034		24		24
Glencore Capital Finance DAC, (Ireland), Reg. S, 0.75%, 03/01/2029	EUR	1,900		1,834
Glencore Finance Europe Ltd., (Jersey),
Reg. S, 0.63%, 09/11/2024	EUR	7,500		8,082
Reg. S, 1.50%, 10/15/2026	EUR	3,500		3,675
Reg. S, 3.75%, 04/01/2026	EUR	1,500		1,666
Kinross Gold Corp., (Canada), 4.50%, 07/15/2027		2,514		2,460
6.25%, 07/15/2033 (e)		1,486		1,560
Norsk Hydro ASA, (Norway),
Reg. S, 1.13%, 04/11/2025	EUR	2,700		2,879
Reg. S, 2.00%, 04/11/2029	EUR	800		814
Orano SA, (France),
Reg. S, 2.75%, 03/08/2028	EUR	100		107
Reg. S, 5.38%, 05/15/2027	EUR	200		230
Rio Tinto Finance plc, (United Kingdom), Reg. S, 4.00%, 12/11/2029	GBP	2,000		2,508
Rio Tinto Finance USA Ltd., (Australia), 2.75%, 11/02/2051		246		169
Rio Tinto Finance USA plc, (United Kingdom), 5.13%, 03/09/2053		315		329
Southern Copper Corp., 3.88%, 04/23/2025		140		138
5.25%, 11/08/2042		567		550
5.88%, 04/23/2045		9		9
6.75%, 04/16/2040		10		11
7.50%, 07/27/2035		300		348
Yamana Gold, Inc., (Canada), 2.63%, 08/15/2031		2,705		2,283

				50,623

Total Basic Materials				113,096


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Communications — 2.6%
Advertising — 0.2%
Interpublic Group of Cos., Inc. (The), 3.38%, 03/01/2041		64		49
JCDecaux SE, (France),
Reg. S, 1.63%, 02/07/2030	EUR	1,000		961
Reg. S, 2.63%, 04/24/2028	EUR	1,000		1,080
Reg. S, 5.00%, 01/11/2029	EUR	4,500		5,218
MMS USA Holdings, Inc.,
Reg. S, 0.63%, 06/13/2025	EUR	2,900		3,067
Reg. S, 1.25%, 06/13/2028	EUR	3,700		3,770
Reg. S, 1.75%, 06/13/2031	EUR	5,000		4,988

				19,133

Internet — 0.7%
Alphabet, Inc.,
1.90%, 08/15/2040		700		487
2.25%, 08/15/2060		265		165
Amazon.com, Inc.,
3.10%, 05/12/2051		75		56
3.25%, 05/12/2061		15		11
3.45%, 04/13/2029		885		858
Booking Holdings, Inc.,
0.10%, 03/08/2025	EUR	1,500		1,591
0.50%, 03/08/2028	EUR	4,500		4,504
1.80%, 03/03/2027	EUR	1,500		1,593
2.38%, 09/23/2024	EUR	1,000		1,092
3.60%, 06/01/2026		50		49
3.63%, 11/12/2028	EUR	6,000		6,806
4.50%, 11/15/2031	EUR	3,987		4,788
4.63%, 04/13/2030		315		318
Expedia Group, Inc., 4.63%, 08/01/2027		700		697
Meta Platforms, Inc.,
3.50%, 08/15/2027		240		234
4.45%, 08/15/2052		410		378
4.65%, 08/15/2062		150		140
5.60%, 05/15/2053		500		545
5.75%, 05/15/2063		455		500
Netflix, Inc.,
Reg. S, 3.00%, 06/15/2025	EUR	1,200		1,316
4.63%, 05/15/2029	EUR	15,000		17,669
Prosus NV, (Netherlands),
Reg. S, 1.21%, 01/19/2026	EUR	4,000		4,148
Reg. S, 1.29%, 07/13/2029	EUR	9,000		8,054
Reg. S, 1.54%, 08/03/2028	EUR	1,000		951
Reg. S, 1.99%, 07/13/2033	EUR	5,937		4,827
Reg. S, 2.03%, 08/03/2032	EUR	3,900		3,285
Reg. S, 2.09%, 01/19/2030	EUR	1,000		921
Reg. S, 2.78%, 01/19/2034	EUR	2,700		2,317
VeriSign, Inc., 2.70%, 06/15/2031		1,128		969
4.75%, 07/15/2027		277		275
5.25%, 04/01/2025		267		267


				69,811


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)



Media — 0.7%
Charter Communications Operating LLC / Charter Communications Operating Capital,
2.25%, 01/15/2029		3		3
3.70%, 04/01/2051		2,682		1,751
3.95%, 06/30/2062		330		209
4.80%, 03/01/2050		946		733
5.38%, 05/01/2047		317		270
5.50%, 04/01/2063		35		29
6.48%, 10/23/2045		302		298
Comcast Corp.,
0.25%, 09/14/2029	EUR	3,100		2,957
1.88%, 02/20/2036	GBP	575		552
1.95%, 01/15/2031		2,875		2,429
2.35%, 01/15/2027		57		53
2.65%, 02/01/2030		440		397
2.65%, 08/15/2062		50		31
2.89%, 11/01/2051		190		129
2.99%, 11/01/2063		480		311
3.15%, 02/15/2028		581		554
3.20%, 07/15/2036		25		21
3.40%, 07/15/2046		420		327
3.75%, 04/01/2040		300		259
3.97%, 11/01/2047		140		118
4.25%, 10/15/2030		900		888
4.60%, 10/15/2038		120		116
Cox Communications, Inc.,
3.50%, 08/15/2027 (e)		3,180		3,029
3.85%, 02/01/2025 (e)		1,500		1,474
5.45%, 09/15/2028 (e)		700		715
Discovery Communications LLC,
4.13%, 05/15/2029		940		891
5.20%, 09/20/2047		1,100		951
FactSet Research Systems, Inc.,
2.90%, 03/01/2027		965		905
3.45%, 03/01/2032		407		365
Fox Corp., 6.50%, 10/13/2033		1,356		1,470
Informa plc, (United Kingdom),
Reg. S, 1.25%, 04/22/2028	EUR	13,100		13,193
Reg. S, 2.13%, 10/06/2025	EUR	16,250		17,424
Reg. S, 3.13%, 07/05/2026	GBP	1,100		1,341
ITV plc, (United Kingdom), Reg. S, 1.38%, 09/26/2026	EUR	1,500		1,558
Paramount Global,
4.20%, 05/19/2032		95		85
4.60%, 01/15/2045		110		84
4.85%, 07/01/2042		1,580		1,271
4.95%, 05/19/2050		160		130
Pearson Funding plc, (United Kingdom), Reg. S, 3.75%, 06/04/2030	GBP	2,475		2,938
TDF Infrastructure SASU, (France), Reg. S, 1.75%, 12/01/2029	EUR	4,500		4,325


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Media — continued
Time Warner Cable LLC,
4.50%, 09/15/2042		300		236
5.50%, 09/01/2041		800		694
Vivendi SE, (France), Reg. S, 1.13%, 12/11/2028	EUR	1,200		1,254
Walt Disney Co. (The),
1.75%, 01/13/2026		45		43
2.00%, 09/01/2029		790		701
Wolters Kluwer NV, (Netherlands),
Reg. S, 0.25%, 03/30/2028	EUR	1,500		1,485
Reg. S, 0.75%, 07/03/2030	EUR	1,475		1,414
Reg. S, 1.50%, 03/22/2027	EUR	4,375		4,618


				75,029

Telecommunications — 1.0%
A1 Towers Holding GmbH, (Austria), Reg. S, 5.25%, 07/13/2028	EUR	10,000		11,679
America Movil SAB de CV, (Mexico),
2.13%, 03/10/2028	EUR	1,300		1,372
4.38%, 08/07/2041	GBP	1,500		1,775
5.00%, 10/27/2026	GBP	1,200		1,548
AT&T, Inc.,
1.65%, 02/01/2028		21		19
1.70%, 03/25/2026		1,399		1,309
1.80%, 09/05/2026	EUR	2,250		2,398
2.05%, 05/19/2032	EUR	200		200
2.45%, 03/15/2035	EUR	825		810
3.50%, 06/01/2041		2,155		1,717
3.65%, 06/01/2051		1,800		1,362
3.65%, 09/15/2059		360		259
3.80%, 02/15/2027		38		37
3.85%, 06/01/2060		70		52
4.25%, 06/01/2043	GBP	200		220
4.30%, 12/15/2042		32		28
4.85%, 03/01/2039		342		328
5.40%, 02/15/2034		310		320
7.00%, 04/30/2040	GBP	400		594
Chorus Ltd., (New Zealand), Reg. S, 3.63%, 09/07/2029	EUR	2,650		2,972
Corning, Inc., 5.45%, 11/15/2079		115		111
Emirates Telecommunications Group Co. PJSC, (United Arab Emirates), Reg. S, 0.88%, 05/17/2033	EUR	1,600		1,408
Juniper Networks, Inc., 2.00%, 12/10/2030		331		268
3.75%, 08/15/2029		72		68
Koninklijke KPN NV, (Netherlands),
Reg. S, 3.88%, 07/03/2031	EUR	6,200		7,097
Reg. S, 5.75%, 09/17/2029	GBP	5,000		6,698
Motorola Solutions, Inc., 2.30%, 11/15/2030		137		116


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Telecommunications — continued
2.75%, 05/24/2031		1,570		1,344
4.60%, 05/23/2029		40		40
5.50%, 09/01/2044		975		971
NBN Co. Ltd., (Australia),
Reg. S, 4.13%, 03/15/2029	EUR	2,000		2,300
5.75%, 10/06/2028 (e)		765		796
NTT Finance Corp., (Japan),
Reg. S, 0.01%, 03/03/2025	EUR	500		529
Reg. S, 0.08%, 12/13/2025	EUR	1,000		1,039
Reg. S, 0.34%, 03/03/2030	EUR	500		474
Reg. S, 0.40%, 12/13/2028	EUR	1,000		981
O2 Telefonica Deutschland Finanzierungs GmbH, (Germany), Reg. S, 1.75%, 07/05/2025	EUR	1,000		1,073
Optus Finance Pty Ltd., (Australia), Reg. S, 1.00%, 06/20/2029	EUR	1,400		1,350
Orange SA, (France),
Reg. S, 0.00%, 09/04/2026	EUR	2,000		2,046
Reg. S, 0.50%, 09/04/2032	EUR	2,000		1,801
Reg. S, 3.25%, 01/15/2032	GBP	1,100		1,303
OTE plc, (United Kingdom), Reg. S, 0.88%, 09/24/2026	EUR	100		104
Proximus SADP, (Belgium),
Reg. S, 0.75%, 11/17/2036	EUR	100		80
Reg. S, 1.88%, 10/01/2025	EUR	100		108
SES SA, (Luxembourg), Reg. S, 3.50%, 01/14/2029	EUR	2,300		2,495
Sprint Capital Corp., 6.88%, 11/15/2028		2,861		3,098
Sprint LLC, 7.63%, 02/15/2025		2,800		2,849
Telefonaktiebolaget LM Ericsson, (Sweden), Reg. S, 1.00%, 05/26/2029	EUR	2,715		2,535
Telekom Finanzmanagement GmbH, (Austria), Reg. S, 1.50%, 12/07/2026	EUR	200		213
Telenor ASA, (Norway), Reg. S, 0.25%, 02/14/2028	EUR	1,300		1,286
Telia Co. AB, (Sweden), Reg. S, 2.13%, 02/20/2034	EUR	700		697
Telstra Group Ltd., (Australia),
Reg. S, 1.00%, 04/23/2030	EUR	3,500		3,442
Reg. S, 3.75%, 05/04/2031	EUR	8,425		9,756
T-Mobile USA, Inc., 1.50%, 02/15/2026		10		9
2.05%, 02/15/2028		400		361
2.63%, 04/15/2026		510		485
3.30%, 02/15/2051		120		87
3.60%, 11/15/2060		339		247
3.75%, 04/15/2027		291		283
3.88%, 04/15/2030		3,420		3,246
4.38%, 04/15/2040		92		83
5.80%, 09/15/2062		60		64
Verizon Communications, Inc., 0.88%, 04/02/2025	EUR	750		802


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Telecommunications — continued
0.88%, 04/08/2027	EUR	475		490
1.68%, 10/30/2030		78		64
2.10%, 03/22/2028		294		266
2.50%, 04/08/2031	GBP	1,000		1,109
2.55%, 03/21/2031		437		377
2.65%, 11/20/2040		950		687
3.25%, 02/17/2026	EUR	200		221
3.38%, 02/15/2025		82		81
3.55%, 03/22/2051		70		54
3.88%, 03/01/2052		370		301
4.02%, 12/03/2029		12		12
4.13%, 08/15/2046		18		15
4.27%, 01/15/2036		418		395
4.33%, 09/21/2028		640		634
4.75%, 10/31/2034	EUR	1,000		1,223


				99,071

Total Communications				263,044

Consumer Cyclical — 2.5%
Airlines — 0.1%
easyJet FinCo. BV, (Netherlands), Reg. S, 1.88%, 03/03/2028		EUR 8,600		8,862
Ryanair DAC, (Ireland),
Reg. S, 0.88%, 05/25/2026	EUR	1,500		1,563
Reg. S, 2.88%, 09/15/2025	EUR	1,000		1,093
Southwest Airlines Co., 5.13%, 06/15/2027		1,150		1,156
United Airlines, Inc., 4.38%, 04/15/2026 (e)		525		512
4.63%, 04/15/2029 (e)		360		336


				13,522

Apparel — 0.1%
Burberry Group plc, (United Kingdom), Reg. S, 1.13%, 09/21/2025	GBP	825		984
LVMH Moet Hennessy Louis Vuitton SE, (France),
Reg. S, 0.13%, 02/11/2028	EUR	800		798
Reg. S, 0.75%, 04/07/2025	EUR	300		321
Reg. S, 1.13%, 02/11/2027	GBP	1,200		1,406
Tapestry, Inc., 3.05%, 03/15/2032		955		777
4.13%, 07/15/2027		1,895		1,802
7.05%, 11/27/2025		70		72
7.35%, 11/27/2028		310		326
7.70%, 11/27/2030		130		137
7.85%, 11/27/2033		366		391


				7,014

Auto Manufacturers — 1.1%
American Honda Finance Corp.,
0.75%, 11/25/2026	GBP	4,800		5,527
1.50%, 10/19/2027	GBP	2,300		2,659


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Auto Manufacturers — continued
3.75%, 10/25/2027	EUR	3,300		3,736
5.60%, 09/06/2030	GBP	4,875		6,594
Dongfeng Motor Hong Kong International Co. Ltd., (Hong Kong), Reg. S, 0.43%, 10/19/2024	EUR	600		638
Ford Motor Co., 3.25%, 02/12/2032		700		583
Ford Motor Credit Co. LLC, 4.00%, 11/13/2030		545		490
4.95%, 05/28/2027		3,065		2,992
6.80%, 11/07/2028		1,310		1,372
7.12%, 11/07/2033		300		324
General Motors Co.,
5.20%, 04/01/2045		560		505
6.25%, 10/02/2043		170		174
6.60%, 04/01/2036		520		558
General Motors Financial Co., Inc.,
Reg. S, 1.69%, 03/26/2025	EUR	1,475		1,587
Reg. S, 2.35%, 09/03/2025	GBP	8,725		10,604
2.35%, 02/26/2027		110		101
2.70%, 08/20/2027		1,450		1,338
2.70%, 06/10/2031		585		491
2.75%, 06/20/2025		980		942
2.90%, 02/26/2025		45		44
5.00%, 04/09/2027		1,120		1,118
Honda Motor Co. Ltd., (Japan), 2.53%, 03/10/2027		410		386
Hyundai Capital America, 6.50%, 01/16/2029 (e)		1,085		1,146
Mercedes-Benz Group AG, (Germany), Reg. S, 1.13%, 11/06/2031	EUR	15		14
Mercedes-Benz International Finance BV, (Netherlands), Reg. S, 1.63%, 11/11/2024	GBP	5,000		6,184
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e)		1,600		1,543
Nissan Motor Co. Ltd., (Japan),
Reg. S, 2.65%, 03/17/2026	EUR	4,800		5,170
3.52%, 09/17/2025 (e)		3,000		2,889
PACCAR Financial Europe BV, (Netherlands), Reg. S, 3.25%, 11/29/2025	EUR	8,750		9,672
RCI Banque SA, (France),
Reg. S, 1.13%, 01/15/2027	EUR	5,000		5,163
Reg. S, 4.75%, 07/06/2027	EUR	2,100		2,418
Stellantis Finance US, Inc., 2.69%, 09/15/2031 (e)		460		386
Stellantis NV, (Netherlands), Reg. S, 4.38%, 03/14/2030	EUR	2,075		2,419
Toyota Motor Credit Corp.,
0.80%, 01/09/2026		200		186
3.65%, 08/18/2025		580		571
3.95%, 06/30/2025		175		173


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Auto Manufacturers — continued
4.80%, 01/10/2025		25		25
5.00%, 08/14/2026		40		40
Toyota Motor Finance Netherlands BV, (Netherlands), Reg. S, 4.00%, 04/02/2027	EUR	10,525		11,974
Volkswagen Bank GmbH, (Germany), Reg. S, 1.25%, 12/15/2025	EUR	1,000		1,060
Volkswagen Financial Services AG, (Germany),
Reg. S, 1.50%, 10/01/2024	EUR	1,000		1,084
Reg. S, 2.25%, 10/16/2026	EUR	10		11
Reg. S, 3.00%, 04/06/2025	EUR	20		22
Reg. S, 3.38%, 04/06/2028	EUR	1,450		1,613
Volkswagen Financial Services NV, (Netherlands), Reg. S, 1.13%, 07/05/2026	GBP	1,000		1,162
Volkswagen Group of America Finance LLC, 4.35%, 06/08/2027 (e)		1,540		1,510
Volkswagen International Finance NV, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 3.75%), 3.50%, 06/17/2025 (x) (aa)	EUR	1,000		1,072
Reg. S, (EUR Swap Rate 9 Year + 3.96%), 3.88%, 06/17/2029 (x) (aa)	EUR	2,000		2,021
Reg. S, (EUR Swap Rate 12 Year + 2.97%), 4.63%, 03/24/2026 (x) (aa)	EUR	210		230
Volkswagen Leasing GmbH, (Germany),
Reg. S, 0.38%, 07/20/2026	EUR	1,500		1,535
Reg. S, 1.50%, 06/19/2026	EUR	5,000		5,279


				109,335

Auto Parts & Equipment — 0.2%
Autoliv, Inc., Reg. S, 4.25%, 03/15/2028	EUR	2,125		2,407
BorgWarner, Inc., 1.00%, 05/19/2031	EUR	1,500		1,362
Cie Generale des Etablissements Michelin SCA, (France), Reg. S, 0.63%, 11/02/2040	EUR	300		224
Hella GmbH & Co. KGaA, (Germany), Reg. S, 0.50%, 01/26/2027	EUR	4,345		4,362
Magna International, Inc., (Canada),
2.45%, 06/15/2030		1,000		877
4.15%, 10/01/2025		2,000		1,968
Pirelli & C SpA, (Italy), Reg. S, 4.25%, 01/18/2028	EUR	2,925		3,351
Robert Bosch GmbH, (Germany), Reg. S, 4.00%, 06/02/2035	EUR	4,500		5,261


				19,812


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Distribution/Wholesale — 0.2%
Bunzl Finance plc, (United Kingdom), Reg. S, 1.50%, 10/30/2030	GBP	1,050		1,096
IMCD NV, (Netherlands),
Reg. S, 2.13%, 03/31/2027	EUR	4,100		4,321
Reg. S, 4.88%, 09/18/2028	EUR	14,250		16,472
LKQ Corp., 5.75%, 06/15/2028		70		72


				21,961

Entertainment — 0.0% (g)
Smithsonian Institution, 1.87%, 09/01/2029		1,000		870
Warnermedia Holdings, Inc.,
5.05%, 03/15/2042		705		624
5.14%, 03/15/2052		1,140		983


				2,477

Food Service — 0.1%
Compass Group plc, (United Kingdom),
Reg. S, 2.00%, 07/03/2029	GBP	2,500		2,871
Reg. S, 3.85%, 06/26/2026	GBP	5,000		6,308
Sodexo SA, (France),
Reg. S, 0.75%, 04/27/2025	EUR	1,000		1,067
Reg. S, 1.00%, 07/17/2028	EUR	500		507
Reg. S, 1.00%, 04/27/2029	EUR	1,000		1,002
Reg. S, 2.50%, 06/24/2026	EUR	500		543


				12,298

Home Builders — 0.0% (g)
Berkeley Group plc (The), (United Kingdom), Reg. S, 2.50%, 08/11/2031	GBP	172		169
Lennar Corp., 5.00%, 06/15/2027		100		100
MDC Holdings, Inc.,
2.50%, 01/15/2031		340		280
6.00%, 01/15/2043		190		177
Meritage Homes Corp., 3.88%, 04/15/2029 (e)		140		129
NVR, Inc., 3.00%, 05/15/2030		1,082		965
PulteGroup, Inc.,
6.38%, 05/15/2033		174		191
7.88%, 06/15/2032		290		341
Toll Brothers Finance Corp., 3.80%, 11/01/2029		670		628


				2,980

Leisure Time — 0.0% (g)
Brunswick Corp.,
4.40%, 09/15/2032		22		20
5.10%, 04/01/2052		65		51


				71


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Lodging — 0.4%
Choice Hotels International, Inc., 3.70%, 12/01/2029		52		46
Hyatt Hotels Corp.,
1.80%, 10/01/2024		400		388
4.38%, 09/15/2028		100		97
IHG Finance LLC, Reg. S, 4.38%, 11/28/2029	EUR	15,925		18,220
InterContinental Hotels Group plc, (United Kingdom),
Reg. S, 1.63%, 10/08/2024	EUR	1,500		1,627
Reg. S, 2.13%, 08/24/2026	GBP	600		711
Reg. S, 2.13%, 05/15/2027	EUR	4,933		5,246
Reg. S, 3.38%, 10/08/2028	GBP	450		534
Reg. S, 3.75%, 08/14/2025	GBP	2,100		2,607
Marriott International, Inc.,
5.00%, 10/15/2027		995		1,008
5.45%, 09/15/2026		777		791
Series HH, 2.85%, 04/15/2031		1,244		1,078
Whitbread Group plc, (United Kingdom),
Reg. S, 2.38%, 05/31/2027	GBP	1,000		1,161
Reg. S, 3.00%, 05/31/2031	GBP	7,000		7,663


				41,177

Retail — 0.3%
AutoNation, Inc., 4.75%, 06/01/2030		1,300		1,256
AutoZone, Inc.,
1.65%, 01/15/2031		2,595		2,109
4.75%, 02/01/2033		850		839
5.05%, 07/15/2026		70		71
5.20%, 08/01/2033		215		219
6.25%, 11/01/2028		240		255
Costco Wholesale Corp., 1.60%, 04/20/2030		40		34
Darden Restaurants, Inc., 6.30%, 10/10/2033		120		129
Dick’s Sporting Goods, Inc., 4.10%, 01/15/2052		240		172
Genuine Parts Co.,
1.75%, 02/01/2025		35		34
1.88%, 11/01/2030		252		205
2.75%, 02/01/2032		145		121
Greene King Finance plc, (United Kingdom), Series A2, 5.32%, 09/15/2031	GBP	27		33
H&M Finance BV, (Netherlands), Reg. S, 0.25%, 08/25/2029	EUR	1,500		1,383
Home Depot, Inc. (The),
2.50%, 04/15/2027		100		94
4.20%, 04/01/2043		948		865
Lowe’s Cos., Inc.,
3.00%, 10/15/2050		50		34
3.35%, 04/01/2027		40		38
4.50%, 04/15/2030		100		100


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Retail — continued
McDonald’s Corp.,
Reg. S, 0.90%, 06/15/2026	EUR	1,500		1,575
Reg. S, 1.75%, 05/03/2028	EUR	1,000		1,048
Reg. S, 1.88%, 05/26/2027	EUR	1,000		1,061
Reg. S, 2.38%, 11/27/2024	EUR	1,500		1,635
Reg. S, 2.38%, 05/31/2029	EUR	200		214
3.38%, 05/26/2025		50		49
3.63%, 09/01/2049		528		425
4.60%, 05/26/2045		150		141
O’Reilly Automotive, Inc.,
3.60%, 09/01/2027		66		64
3.90%, 06/01/2029		2		2
4.20%, 04/01/2030		78		75
4.70%, 06/15/2032		16		16
5.75%, 11/20/2026		170		174
Pandora A/S, (Denmark), Reg. S, 4.50%, 04/10/2028	EUR	6,225		7,125
Roadster Finance DAC, (Ireland),
Reg. S, 1.63%, 12/09/2024	EUR	500		534
Reg. S, 2.38%, 12/08/2027	EUR	500		476
Starbucks Corp., 4.75%, 02/15/2026		245		246
Walmart, Inc.,
2.55%, 04/08/2026	EUR	2,550		2,792
2.65%, 09/22/2051		20		14
4.10%, 04/15/2033		180		179
4.50%, 09/09/2052		145		141
4.50%, 04/15/2053		179		175
Wesfarmers Ltd., (Australia), Reg. S, 0.95%, 10/21/2033	EUR	2,381		2,114


				28,266

Total Consumer Cyclical				258,913

Consumer Non-cyclical — 5.5%
Agriculture — 0.9%
Altria Group, Inc.,
1.70%, 06/15/2025	EUR	2,000		2,145
2.20%, 06/15/2027	EUR	2,100		2,231
3.13%, 06/15/2031	EUR	2,000		2,001
3.40%, 02/04/2041		615		452
3.70%, 02/04/2051		470		332
3.88%, 09/16/2046		885		667
4.00%, 02/04/2061		550		403
5.80%, 02/14/2039		16		16
5.95%, 02/14/2049		10		10
6.20%, 11/01/2028		725		761
6.20%, 02/14/2059		28		30
Archer-Daniels-Midland Co., 1.00%, 09/12/2025	EUR	1,500		1,595
BAT Capital Corp.,
2.26%, 03/25/2028		100		89
2.79%, 09/06/2024		485		475
3.22%, 08/15/2024		58		57


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Agriculture — continued
3.56%, 08/15/2027		646		617
3.73%, 09/25/2040		45		33
4.54%, 08/15/2047		110		85
4.76%, 09/06/2049		85		67
7.08%, 08/02/2043		120		128
7.08%, 08/02/2053		105		113
BAT International Finance plc, (United Kingdom),
Reg. S, 1.25%, 03/13/2027	EUR	625		643
Reg. S, 2.00%, 03/13/2045	EUR	800		559
Reg. S, 2.25%, 06/26/2028	GBP	2,000		2,271
Reg. S, 2.25%, 01/16/2030	EUR	2,500		2,453
Reg. S, 2.25%, 09/09/2052	GBP	1,500		854
Reg. S, 3.13%, 03/06/2029	EUR	5,959		6,369
Reg. S, 4.00%, 09/04/2026	GBP	3,450		4,298
4.45%, 03/16/2028		150		147
5.93%, 02/02/2029		1,825		1,898
Reg. S, 6.00%, 11/24/2034	GBP	600		753
Cargill, Inc., 1.70%, 02/02/2031 (e)		750		616
2.13%, 04/23/2030 (e)		1,500		1,306
Imperial Brands Finance plc, (United Kingdom),
Reg. S, 3.38%, 02/26/2026	EUR	1,161		1,267
Reg. S, 5.50%, 09/28/2026	GBP	4,000		5,137
JT International Financial Services BV, (Netherlands),
Reg. S, 1.00%, 11/26/2029	EUR	9,700		9,480
Reg. S, 1.13%, 09/28/2025	EUR	6,600		6,972
Reg. S, (EUR Swap Rate 5 Year + 2.79%), 2.38%, 04/07/2081 (aa)	EUR	3,000		3,155
Reg. S, 2.75%, 09/28/2033	GBP	9,475		9,905
Reg. S, (EUR Swap Rate 5 Year + 3.18%), 2.88%, 10/07/2083 (aa)	EUR	2,500		2,520
Philip Morris International, Inc.,
0.13%, 08/03/2026	EUR	1,000		1,020
0.80%, 08/01/2031	EUR	1,000		900
0.88%, 05/01/2026		100		92
1.50%, 05/01/2025		34		33
1.75%, 11/01/2030		70		58
2.88%, 05/14/2029	EUR	1,250		1,343
3.13%, 06/03/2033	EUR	1,000		1,071
4.25%, 11/10/2044		1,545		1,326
4.88%, 11/15/2043		105		99
5.38%, 02/15/2033		910		934
6.38%, 05/16/2038		655		734
STG Global Finance BV, (Netherlands), Reg. S, 1.38%, 09/24/2025	EUR	344		355
Sudzucker International Finance BV, (Netherlands),
Reg. S, 1.00%, 11/28/2025	EUR	2,500		2,627
Reg. S, 5.13%, 10/31/2027		EUR 500		582


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Agriculture — continued
Viterra Finance BV, (Netherlands),
Reg. S, 0.38%, 09/24/2025	EUR	1,000		1,042
Reg. S, 1.00%, 09/24/2028	EUR	2,050		2,008


				87,134

Beverages — 0.5%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.,
3.65%, 02/01/2026		50		49
4.70%, 02/01/2036		1,700		1,701
4.90%, 02/01/2046		1,655		1,623
Anheuser-Busch InBev SA, (Belgium), Reg. S, 2.75%, 03/17/2036	EUR	10		11
Anheuser-Busch InBev Worldwide, Inc.,
4.00%, 04/13/2028		328		324
4.35%, 06/01/2040		55		52
Carlsberg Breweries A/S, (Denmark), Reg. S, 3.50%, 11/26/2026	EUR	4,100		4,582
CCEP Finance Ireland DAC, (Ireland),
Reg. S, 0.00%, 09/06/2025	EUR	3,000		3,131
Reg. S, 0.50%, 09/06/2029	EUR	2,400		2,295
Coca-Cola Co. (The),
0.13%, 03/09/2029	EUR	4,800		4,615
0.50%, 03/09/2033	EUR	3,000		2,662
1.25%, 03/08/2031	EUR	1,000		989
2.75%, 06/01/2060		175		122
3.00%, 03/05/2051		230		174
3.45%, 03/25/2030		640		615
Coca-Cola Europacific Partners plc, (United Kingdom),
Reg. S, 1.13%, 04/12/2029	EUR	1,000		1,001
Reg. S, 1.75%, 03/27/2026	EUR	2,000		2,146
Reg. S, 2.38%, 05/07/2025	EUR	3,900		4,245
Coca-Cola HBC Finance BV, (Netherlands), Reg. S, 1.63%, 05/14/2031	EUR	1,900		1,885
Constellation Brands, Inc.,
2.25%, 08/01/2031		50		42
4.35%, 05/09/2027		285		283
Diageo Capital plc, (United Kingdom),
2.13%, 04/29/2032		970		811
5.30%, 10/24/2027		630		649
Diageo Finance plc, (United Kingdom),
Reg. S, 1.25%, 03/28/2033	GBP	3,000		2,988
Reg. S, 2.50%, 03/27/2032	EUR	600		636
Reg. S, 2.75%, 06/08/2038	GBP	625		644
Heineken NV, (Netherlands), Reg. S, 2.88%, 08/04/2025	EUR	1,300		1,427
PepsiCo., Inc.,
0.40%, 10/09/2032	EUR	3,750		3,346
0.50%, 05/06/2028	EUR	583		585
0.75%, 10/14/2033	EUR	2,950		2,664
1.13%, 03/18/2031	EUR	1,000		984
4.20%, 07/18/2052		425		395
4.65%, 02/15/2053		15		15


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Beverages — continued
Pernod Ricard SA, (France), Reg. S, 1.13%, 04/07/2025	EUR	3,100		3,325


				51,016

Biotechnology — 0.1%
Amgen, Inc.,
1.90%, 02/21/2025		130		125
4.05%, 08/18/2029		339		332
4.40%, 05/01/2045		640		570
5.15%, 03/02/2028		110		113
5.25%, 03/02/2033		1,505		1,545
5.60%, 03/02/2043		615		637
5.65%, 03/02/2053		450		476
Biogen, Inc.,
3.15%, 05/01/2050		20		14
3.25%, 02/15/2051		135		97
Gilead Sciences, Inc.,
3.65%, 03/01/2026		680		666
5.55%, 10/15/2053		385		418
H Lundbeck A/S, (Denmark), Reg. S, 0.88%, 10/14/2027	EUR	8,200		8,199
Regeneron Pharmaceuticals, Inc.,
1.75%, 09/15/2030		840		692
2.80%, 09/15/2050		255		169


				14,053

Commercial Services — 1.6%
Abertis Infraestructuras SA, (Spain), Reg. S, 3.38%, 11/27/2026	GBP	10,400		12,645
ALD SA, (France), Reg. S, 1.25%, 03/02/2026	EUR	3,000		3,160
Amadeus IT Group SA, (Spain),
Reg. S, 1.50%, 09/18/2026	EUR	1,000		1,071
Reg. S, 2.50%, 05/20/2024	EUR	1,000		1,097
Reg. S, 2.88%, 05/20/2027	EUR	500		547
American University (The), Series 2019, 3.67%, 04/01/2049		80		65
APRR SA, (France), Reg. S, 1.88%, 01/03/2029	EUR	4,000		4,205
ASTM SpA, (Italy),
Reg. S, 1.00%, 11/25/2026	EUR	1,000		1,028
Reg. S, 1.50%, 01/25/2030	EUR	1,000		959
Reg. S, 1.63%, 02/08/2028	EUR	500		517
Automatic Data Processing, Inc.,
1.25%, 09/01/2030		90		75
1.70%, 05/15/2028		630		569
Autoroutes du Sud de la France SA, (France), Reg. S, 1.25%, 01/18/2027	EUR	3,900		4,108
Autostrade per l’Italia SpA, (Italy),
Reg. S, 1.63%, 01/25/2028	EUR	7,000		7,096
Reg. S, 1.75%, 06/26/2026	EUR	7,000		7,355
Reg. S, 2.25%, 01/25/2032	EUR	7,000		6,630


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Commercial Services — continued
Babcock International Group plc, (United Kingdom), Reg. S, 1.38%, 09/13/2027	EUR	16,627		16,875
California Institute of Technology, 4.70%, 11/01/2111		25		22
Case Western Reserve University, Series 22-C, 5.41%, 06/01/2122		50		50
Central Nippon Expressway Co. Ltd., (Japan),
Reg. S, 0.89%, 09/29/2025		1,500		1,392
Reg. S, 0.89%, 12/10/2025		200		185
Reg. S, 1.87%, 09/26/2024	AUD	1,000		664
Channel Link Enterprises Finance plc, (United Kingdom), Series A8, Reg. S, (ICE LIBOR EUR 6 Month + 5.90%), 2.71%, 06/30/2050 (aa)	EUR	100		104
Cintas Corp. No. 2,
3.70%, 04/01/2027		30		29
4.00%, 05/01/2032		280		271
Claremont Mckenna College, 3.78%, 01/01/2122		50		34
Duke University, Series 2020, 2.68%, 10/01/2044		20		15
East Nippon Expressway Co. Ltd., (Japan), Series 66, 0.10%, 12/18/2026	JPY	100,000		705
Edenred SE, (France),
Reg. S, 1.38%, 03/10/2025	EUR	1,000		1,076
Reg. S, 1.38%, 06/18/2029	EUR	1,000		1,015
Reg. S, 1.88%, 03/06/2026	EUR	500		537
Equifax, Inc., 3.10%, 05/15/2030		1,800		1,612
ERAC USA Finance LLC,
3.85%, 11/15/2024 (e)		160		158
4.50%, 02/15/2045 (e)		400		363
4.60%, 05/01/2028 (e)		1,100		1,094
4.90%, 05/01/2033 (e)		865		866
7.00%, 10/15/2037 (e)		800		937
Experian Finance plc, (United Kingdom),
Reg. S, 0.74%, 10/29/2025	GBP	600		713
Reg. S, 1.38%, 06/25/2026	EUR	2,625		2,770
Reg. S, 3.25%, 04/07/2032	GBP	425		502
George Washington University (The), Series 2014, 4.30%, 09/15/2044		30		26
Global Payments, Inc., 4.88%, 03/17/2031	EUR	2,050		2,373
Holding d’Infrastructures de Transport SASU, (France),
Reg. S, 0.63%, 09/14/2028	EUR	300		292
Reg. S, 2.50%, 05/04/2027	EUR	1,600		1,714
Johns Hopkins University, Series A, 2.81%, 01/01/2060		600		395
ManpowerGroup, Inc.,
Reg. S, 1.75%, 06/22/2026	EUR	1,000		1,068
Reg. S, 3.50%, 06/30/2027	EUR	500		552


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Commercial Services — continued
Massachusetts Institute of Technology,
3.89%, 07/01/2116		663		523
4.68%, 07/01/2114		650		620
Series F, 2.99%, 07/01/2050		20		15
Moody’s Corp., 1.75%, 03/09/2027	EUR	1,125		1,195
Northwestern University, Series 2020, 2.64%, 12/01/2050		10		7
President and Fellows of Harvard College, 2.52%, 10/15/2050		10		7
Prosegur Cash SA, (Spain), Reg. S, 1.38%, 02/04/2026	EUR	1,500		1,585
Quanta Services, Inc.,
2.35%, 01/15/2032		520		429
3.05%, 10/01/2041		150		110
RELX Capital, Inc.,
1.30%, 05/12/2025	EUR	500		536
4.75%, 05/20/2032		610		617
RELX Finance BV, (Netherlands),
Reg. S, 0.00%, 03/18/2024	EUR	100		110
Reg. S, 0.50%, 03/10/2028	EUR	500		500
Reg. S, 0.88%, 03/10/2032	EUR	15,400		14,349
Reg. S, 1.38%, 05/12/2026	EUR	1,000		1,066
Reg. S, 1.50%, 05/13/2027	EUR	4,500		4,754
Reg. S, 3.75%, 06/12/2031	EUR	12,000		13,775
Rentokil Initial Finance BV, (Netherlands), Reg. S, 4.38%, 06/27/2030	EUR	842		983
Rentokil Initial plc, (United Kingdom),
Reg. S, 0.50%, 10/14/2028	EUR	1,000		977
Reg. S, 5.00%, 06/27/2032	GBP	4,000		5,120
Rockefeller Foundation (The), Series 2020, 2.49%, 10/01/2050		5		3
S&P Global, Inc.,
2.30%, 08/15/2060		351		211
2.45%, 03/01/2027		335		316
5.25%, 09/15/2033 (e)		325		341
SGS Nederland Holding BV, (Netherlands), Reg. S, 0.13%, 04/21/2027	EUR	2,500		2,504
Thomas Jefferson University, 3.85%, 11/01/2057		50		38
Transurban Finance Co. Pty Ltd., (Australia),
Reg. S, 1.45%, 05/16/2029	EUR	2,000		2,010
Reg. S, 2.00%, 08/28/2025	EUR	3,000		3,234
Reg. S, 3.00%, 04/08/2030	EUR	3,100		3,348
Reg. S, 4.23%, 04/26/2033	EUR	4,050		4,706
Triton Container International Ltd. / TAL International Container Corp., (Bermuda), 3.25%, 03/15/2032		411		329
Trustees of Princeton University (The),
4.20%, 03/01/2052		1,295		1,199
Series 2020, 2.52%, 07/01/2050		20		14


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Commercial Services — continued
University of Oxford, (United Kingdom), Reg. S, 2.54%, 12/08/2117	GBP	1,500		1,119
University of Southern California,
2.81%, 10/01/2050		20		14
4.98%, 10/01/2053		706		732
Series 21A, 2.95%, 10/01/2051		10		7
Verisk Analytics, Inc.,
5.50%, 06/15/2045		278		275
5.75%, 04/01/2033		117		126
Washington University (The),
4.35%, 04/15/2122		255		217
Series 2022, 3.52%, 04/15/2054		900		720
Wellcome Trust Ltd. (The), (United Kingdom),
Reg. S, 1.50%, 07/14/2071	GBP	1,500		855
Reg. S, 2.52%, 02/07/2118	GBP	200		150
West Nippon Expressway Co. Ltd., (Japan), Series 29, 0.31%, 02/12/2026	JPY	200,000		1,421
Worldline SA, (France), Reg. S, 0.25%, 09/18/2024	EUR	500		531


				161,234

Cosmetics/Personal Care — 0.3%
Colgate-Palmolive Co., 3.70%, 08/01/2047		170		149
Procter & Gamble Co. (The),
0.35%, 05/05/2030	EUR	2,800		2,664
0.63%, 10/30/2024	EUR	1,450		1,560
1.88%, 10/30/2038	EUR	1,125		1,089
4.88%, 05/11/2027	EUR	425		499
Reckitt Benckiser Treasury Services Nederland BV, (Netherlands), Reg. S,0.75%, 05/19/2030	EUR	200		194
Unilever Capital Corp., 5.00%, 12/08/2033		960		998
Unilever Finance Netherlands BV, (Netherlands),
Reg. S, 0.75%, 02/28/2026	EUR	2,475		2,610
Reg. S, 1.13%, 02/12/2027	EUR	825		866
Reg. S, 1.13%, 04/29/2028	EUR	1,000		1,031
Reg. S, 1.25%, 02/28/2031	EUR	1,500		1,479
Reg. S, 1.75%, 11/16/2028	EUR	6,000		6,326
Reg. S, 1.75%, 03/25/2030	EUR	6,000		6,213
Reg. S, 3.50%, 02/23/2035	EUR	7,150		8,238


				33,916

Food — 0.4%
General Mills, Inc.,
0.13%, 11/15/2025	EUR	1,000		1,042
0.45%, 01/15/2026	EUR	3,000		3,124
2.88%, 04/15/2030		446		403
Hershey Co. (The),
0.90%, 06/01/2025		255		242
1.70%, 06/01/2030		285		243


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Food — continued
2.30%, 08/15/2026		70		66
2.65%, 06/01/2050		8		5
4.50%, 05/04/2033		333		336
Hormel Foods Corp., 1.70%, 06/03/2028		281		253
JBS USA LUX SA / JBS USA Food Co. / JBS Luxembourg Sarl, (Multinational), 7.25%, 11/15/2053 (e)		70		76
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., (Multinational),
3.00%, 05/15/2032		575		468
4.38%, 02/02/2052		43		32
5.75%, 04/01/2033		1,054		1,049
6.50%, 12/01/2052		350		353
Kellanova,
0.50%, 05/20/2029	EUR	1,500		1,435
1.00%, 05/17/2024	EUR	500		546
1.25%, 03/10/2025	EUR	500		538
Kerry Group Financial Services Unlimited Co., (Ireland), Reg. S, 2.38%, 09/10/2025	EUR	2,700		2,939
Kraft Heinz Foods Co.,
Reg. S, 1.50%, 05/24/2024	EUR	1,000		1,093
Reg. S, 2.25%, 05/25/2028	EUR	1,000		1,066
Reg. S, 4.13%, 07/01/2027	GBP	5,000		6,299
Kroger Co. (The), 3.95%, 01/15/2050		5		4
Mars, Inc., 2.38%, 07/16/2040 (e)		1,200		864
Mondelez International Holdings Netherlands BV, (Netherlands),
Reg. S, 0.25%, 09/09/2029	EUR	1,000		951
Reg. S, 0.38%, 09/22/2029	EUR	200		190
Reg. S, 0.63%, 09/09/2032	EUR	1,000		892
Mondelez International, Inc.,
0.25%, 03/17/2028	EUR	1,000		987
0.75%, 03/17/2033	EUR	500		446
1.50%, 02/04/2031		1,000		816
Nestle Finance International Ltd., (Luxembourg),
Reg. S, 0.00%, 06/14/2026	EUR	1,500		1,553
Reg. S, 0.38%, 05/12/2032	EUR	936		854
Reg. S, 1.25%, 03/29/2031	EUR	1,200		1,191
Reg. S, 3.00%, 03/15/2028	EUR	15		17
Nestle Holdings, Inc., Reg. S, 0.88%, 07/18/2025	EUR	50		53
REWE International Finance BV, (Netherlands), Reg. S, 4.88%, 09/13/2030	EUR	5,400		6,314
Tesco Corporate Treasury Services plc, (United Kingdom),
Reg. S, 0.88%, 05/29/2026	EUR	1,500		1,568
Reg. S, 1.88%, 11/02/2028	GBP	1,300		1,459
Reg. S, 2.75%, 04/27/2030	GBP	825		929
Woolworths Group Ltd., (Australia), Reg. S, 0.38%, 11/15/2028	EUR	1,500		1,422


				42,118


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Healthcare — Products — 0.4%
Abbott Laboratories, 4.90%, 11/30/2046		255		262
Agilent Technologies, Inc.,
2.30%, 03/12/2031		425		369
2.75%, 09/15/2029		32		29
3.05%, 09/22/2026		275		263
Alcon Finance BV, (Netherlands), Reg. S, 2.38%, 05/31/2028	EUR	200		213
American Medical Systems Europe BV, (Netherlands), 0.75%, 03/08/2025	EUR	1,300		1,387
Becton Dickinson Euro Finance Sarl, (Luxembourg),
1.21%, 06/04/2026	EUR	825		869
1.34%, 08/13/2041	EUR	2,000		1,519
Boston Scientific Corp.,
0.63%, 12/01/2027	EUR	800		807
3.45%, 03/01/2024		44		44
6.50%, 11/15/2035		75		85
Danaher Corp., 2.80%, 12/10/2051		105		73
DH Europe Finance II Sarl, (Luxembourg),
0.20%, 03/18/2026	EUR	3,775		3,912
3.40%, 11/15/2049		30		24
Edwards Lifesciences Corp., 4.30%, 06/15/2028		705		695
EssilorLuxottica SA, (France), Reg. S, 0.38%, 01/05/2026	EUR	600		629
Medtronic Global Holdings SCA, (Luxembourg),
1.13%, 03/07/2027	EUR	4,000		4,173
1.63%, 10/15/2050	EUR	900		675
1.75%, 07/02/2049	EUR	900		697
3.00%, 10/15/2028	EUR	3,400		3,761
3.38%, 10/15/2034	EUR	4,200		4,676
Molnlycke Holding AB, (Sweden), Reg. S, 1.88%, 02/28/2025	EUR	1,900		2,048
Smith & Nephew plc, (United Kingdom), 4.57%, 10/11/2029	EUR	1,500		1,756
Stryker Corp.,
1.00%, 12/03/2031	EUR	1,300		1,213
3.38%, 12/11/2028	EUR	2,200		2,462
4.85%, 12/08/2028		330		334
Thermo Fisher Scientific Finance I BV, (Netherlands), 1.13%, 10/18/2033	EUR	1,000		917
Thermo Fisher Scientific, Inc.,
1.22%, 10/18/2024		80		77
1.88%, 10/01/2049	EUR	900		710
5.00%, 01/31/2029		215		221
Werfen SA, (Spain), Reg. S, 0.50%, 10/28/2026	EUR	1,200		1,215
Zimmer Biomet Holdings, Inc.,
1.16%, 11/15/2027	EUR	1,000		1,023
2.43%, 12/13/2026	EUR	500		541


				37,679


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Healthcare — Services — 0.3%
Advocate Health & Hospitals Corp., 3.39%, 10/15/2049		35		27
Aetna, Inc., 3.50%, 11/15/2024		58		57
AHS Hospital Corp., Series 2021, 2.78%, 07/01/2051		755		506
Allina Health System, Series 2019, 3.89%, 04/15/2049		40		34
Ascension Health, 3.95%, 11/15/2046		140		121
Banner Health, 2.91%, 01/01/2042		100		74
Beth Israel Lahey Health, Inc., Series L, 3.08%, 07/01/2051		7		4
City of Hope, Series 2013, 5.62%, 11/15/2043		35		35
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114		1,000		944
CommonSpirit Health, 3.91%, 10/01/2050		368		291
Duke University Health System, Inc., Series 2017, 3.92%, 06/01/2047		50		43
Elevance Health, Inc.,
3.35%, 12/01/2024		100		98
4.90%, 02/08/2026		130		130
Eurofins Scientific SE, (Luxembourg), Reg. S, 2.13%, 07/25/2024	EUR	796		868
Hackensack Meridian Health, Inc.,
Series 2020, 2.68%, 09/01/2041		1,385		990
Series 2020, 2.88%, 09/01/2050		35		24
HCA, Inc.,
3.13%, 03/15/2027		2,560		2,428
4.63%, 03/15/2052		755		645
5.13%, 06/15/2039		355		339
5.25%, 06/15/2049		285		266
5.38%, 02/01/2025		375		374
Health Care Service Corp. A Mutual Legal Reserve Co., 2.20%, 06/01/2030 (e)		1,400		1,194
Humana, Inc.,
3.70%, 03/23/2029		80		77
5.75%, 03/01/2028		409		425
5.75%, 12/01/2028		495		517
IQVIA, Inc.,
5.70%, 05/15/2028 (e)		580		589
6.25%, 02/01/2029 (e)		1,117		1,167
Kaiser Foundation Hospitals,
4.15%, 05/01/2047		1,200		1,064
Series 2021, 3.00%, 06/01/2051		250		179
Lonza Finance International NV, (Belgium), Reg. S, 1.63%, 04/21/2027	EUR	2,800		2,961
Mayo Clinic,
3.77%, 11/15/2043		30		26
Series 2013, 4.00%, 11/15/2047		25		22
Series 2021, 3.20%, 11/15/2061		440		304
Memorial Health Services, 3.45%, 11/01/2049		10		8


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Healthcare — Services — continued
Memorial Sloan-Kettering Cancer Center, 4.13%, 07/01/2052		50		44
Methodist Hospital (The), Series 20A, 2.71%, 12/01/2050		1,500		999
MultiCare Health System, 2.80%, 08/15/2050		1,000		635
MyMichigan Health, Series 2020, 3.41%, 06/01/2050		1,498		1,107
New York and Presbyterian Hospital (The),
2.26%, 08/01/2040		1,090		754
4.02%, 08/01/2045		70		60
Northwell Healthcare, Inc., 4.26%, 11/01/2047		25		21
OhioHealth Corp.,
2.30%, 11/15/2031		830		700
2.83%, 11/15/2041		370		276
Series 2020, 3.04%, 11/15/2050		535		394
PeaceHealth Obligated Group,
Series 2020, 1.38%, 11/15/2025		700		650
Series 2020, 3.22%, 11/15/2050		749		492
Piedmont Healthcare, Inc.,
2.86%, 01/01/2052		3		2
Series 2032, 2.04%, 01/01/2032		470		378
Series 2042, 2.72%, 01/01/2042		453		328
Presbyterian Healthcare Services, 4.88%, 08/01/2052		100		100
Providence St Joseph Health Obligated Group, Series 21A, 2.70%, 10/01/2051		150		91
Roche Holdings, Inc., 5.59%, 11/13/2033 (e) (jj)		1,650		1,783
Sentara Healthcare, Series 2021, 2.93%, 11/01/2051		2,365		1,636
Texas Health Resources, 2.33%, 11/15/2050		750		459
Trinity Health Corp., Series 2021, 2.63%, 12/01/2040		233		169
UMass Memorial Health Care Obligated Group, 5.36%, 07/01/2052		5		5
UnitedHealth Group, Inc.,
2.00%, 05/15/2030		160		138
2.95%, 10/15/2027		130		123
3.13%, 05/15/2060		160		114
3.45%, 01/15/2027		70		68
3.70%, 05/15/2027		75		73
3.70%, 08/15/2049		1,100		896
3.75%, 07/15/2025		20		20
3.85%, 06/15/2028		70		69
3.88%, 08/15/2059		50		41
4.25%, 01/15/2029		370		370
4.50%, 04/15/2033		150		149
5.00%, 10/15/2024		30		30
5.20%, 04/15/2063		1,350		1,384


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Healthcare — Services — continued
5.25%, 02/15/2028		320		331
5.30%, 02/15/2030		209		219
5.35%, 02/15/2033		330		350
5.88%, 02/15/2053		130		148
6.05%, 02/15/2063		520		602
Universal Health Services, Inc.,
2.65%, 10/15/2030		1,423		1,209
2.65%, 01/15/2032		257		211
West Virginia United Health System Obligated Group, Series 2020, 3.13%, 06/01/2050		50		34
Yale-New Haven Health Services Corp., Series 2020, 2.50%, 07/01/2050		50		31


				34,524

Household Products/Wares — 0.1%
Clorox Co. (The), 1.80%, 05/15/2030		10		8
Henkel AG & Co. KGaA, (Germany), Reg. S, 0.50%, 11/17/2032	EUR	1,000		916
Kimberly-Clark Corp.,	EUR	1,500		1,619
0.63%, 09/07/2024
2.88%, 02/07/2050		165		119
3.10%, 03/26/2030		48		45
3.20%, 04/25/2029		55		52
Reckitt Benckiser Treasury Services plc, (United Kingdom), Reg. S, 1.75%, 05/19/2032	GBP	2,175		2,322


				5,081

Pharmaceuticals — 0.9%
AbbVie, Inc.,
3.20%, 11/21/2029 (jj)		4,960		4,642
4.05%, 11/21/2039		195		177
4.25%, 11/21/2049		99		89
4.40%, 11/06/2042		25		23
AstraZeneca Finance LLC,
0.70%, 05/28/2024		105		103
1.75%, 05/28/2028		480		430
AstraZeneca plc, (United Kingdom),
Reg. S, 0.38%, 06/03/2029	EUR	1,500		1,457
Reg. S, 1.25%, 05/12/2028	EUR	1,000		1,038
1.38%, 08/06/2030		300		249
4.38%, 11/16/2045		90		85
Bayer AG, (Germany),
Reg. S, 0.63%, 07/12/2031	EUR	1,200		1,046
Reg. S, 1.13%, 01/06/2030	EUR	1,000		950
Bayer Capital Corp. BV, (Netherlands), Reg. S, 2.13%, 12/15/2029	EUR	600		607
Becton Dickinson & Co.,
3.79%, 05/20/2050		100		82
4.30%, 08/22/2032		35		34
Bristol-Myers Squibb Co.,
1.45%, 11/13/2030		187		154


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Pharmaceuticals — continued
2.35%, 11/13/2040		75		52
2.55%, 11/13/2050		138		88
3.40%, 07/26/2029		695		660
3.45%, 11/15/2027		53		51
3.70%, 03/15/2052		340		268
3.90%, 03/15/2062		223		175
4.13%, 06/15/2039		511		462
4.55%, 02/20/2048		4		4
6.40%, 11/15/2063		820		954
Cardinal Health, Inc.,
3.08%, 06/15/2024		10		10
4.37%, 06/15/2047		175		150
4.50%, 11/15/2044		45		39
Cencora, Inc.,
2.70%, 03/15/2031		455		400
3.25%, 03/01/2025		640		626
3.45%, 12/15/2027		5		5
4.25%, 03/01/2045		211		185
4.30%, 12/15/2047		42		38
Cigna Group (The),
2.40%, 03/15/2030		75		66
4.90%, 12/15/2048		800		761
CVS Health Corp., 5.05%, 03/25/2048		1,200		1,127
Eli Lilly & Co.,
0.50%, 09/14/2033	EUR	1,500		1,348
0.63%, 11/01/2031	EUR	4,800		4,540
1.13%, 09/14/2051	EUR	2,717		1,948
1.38%, 09/14/2061	EUR	420		289
1.63%, 06/02/2026	EUR	1,500		1,607
1.70%, 11/01/2049	EUR	2,500		2,081
2.13%, 06/03/2030	EUR	3,500		3,745
4.88%, 02/27/2053		260		271
4.95%, 02/27/2063		100		104
GlaxoSmithKline Capital plc, (United Kingdom),
5.25%, 12/19/2033	GBP	640		891
Reg. S, 5.25%, 04/10/2042	GBP	150		204
Johnson & Johnson,
0.95%, 09/01/2027		105		94
1.15%, 11/20/2028	EUR	1,000		1,038
2.45%, 09/01/2060		290		187
McKesson Corp.,
0.90%, 12/03/2025		70		65
1.50%, 11/17/2025	EUR	1,000		1,069
1.63%, 10/30/2026	EUR	2,000		2,126
3.13%, 02/17/2029	GBP	1,925		2,321
Merck & Co., Inc.,
0.50%, 11/02/2024	EUR	1,000		1,075
1.38%, 11/02/2036	EUR	1,000		916
1.88%, 10/15/2026	EUR	1,900		2,039
2.35%, 06/24/2040		50		36
2.50%, 10/15/2034	EUR	500		535


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Pharmaceuticals — continued
2.75%, 12/10/2051		30		21
2.90%, 12/10/2061		355		239
3.40%, 03/07/2029		280		269
3.70%, 02/10/2045		60		51
3.90%, 03/07/2039		150		137
4.00%, 03/07/2049		40		35
4.30%, 05/17/2030		200		200
4.90%, 05/17/2044		485		492
5.00%, 05/17/2053		120		124
5.15%, 05/17/2063		275		288
Merck Financial Services GmbH, (Germany), Reg. S, 0.13%, 07/16/2025	EUR	1,000		1,050
Mylan, Inc., 5.20%, 04/15/2048		30		25
Novartis Capital Corp.,
2.75%, 08/14/2050		405		294
3.10%, 05/17/2027		37		36
Novartis Finance SA, (Luxembourg),
Reg. S, 0.00%, 09/23/2028	EUR	7,000		6,834
Reg. S, 0.63%, 09/20/2028	EUR	1,000		1,014
Reg. S, 1.13%, 09/30/2027	EUR	1,000		1,053
Reg. S, 1.38%, 08/14/2030	EUR	1,000		1,013
Reg. S, 1.70%, 08/14/2038	EUR	1,000		950
Novo Nordisk Finance Netherlands BV, (Netherlands),
Reg. S, 0.75%, 03/31/2025	EUR	1,000		1,070
Reg. S, 1.13%, 09/30/2027	EUR	1,000		1,046
Reg. S, 1.38%, 03/31/2030	EUR	1,000		1,026
Pfizer Investment Enterprises Pte Ltd., (Singapore), 5.34%, 05/19/2063		46		47
Pfizer, Inc.,
2.75%, 06/03/2026		145		139
3.00%, 12/15/2026		533		514
5.60%, 09/15/2040		30		32
Roche Finance Europe BV, (Netherlands), Reg. S, 0.88%, 02/25/2025	EUR	1,600		1,722
Sandoz Finance BV, (Netherlands), Reg. S, 4.50%, 11/17/2033	EUR	20,000		23,421
Sanofi SA, (France), Series 20FX, Reg. S, 1.88%, 03/21/2038	EUR	800		778
Upjohn Finance BV, (Netherlands),
Reg. S, 1.02%, 06/23/2024	EUR	1,000		1,087
Reg. S, 1.36%, 06/23/2027	EUR	1,000		1,024
Utah Acquisition Sub, Inc., Reg. S, 2.25%, 11/22/2024	EUR	1,000		1,085
Viatris, Inc.,
3.85%, 06/22/2040		2,200		1,641
4.00%, 06/22/2050		140		99
Zoetis, Inc.,
3.90%, 08/20/2028		40		39
4.70%, 02/01/2043		188		180
5.40%, 11/14/2025		330		333


				95,224

Total Consumer Non-cyclical				561,979


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Energy — 1.6%
Coal — 0.0% (g)
Teck Resources Ltd., (Canada), 5.40%, 02/01/2043		1,100		1,052

Energy — Alternate Sources — 0.1%
ERG SpA, (Italy),
Reg. S, 0.50%, 09/11/2027	EUR	5,000		4,982
Reg. S, 0.88%, 09/15/2031	EUR	1,300		1,152


				6,134

Oil & Gas — 1.0%
Aker BP ASA, (Norway),
2.00%, 07/15/2026 (e)		915		844
3.10%, 07/15/2031 (e)		1,585		1,358
5.60%, 06/13/2028 (e)		795		811
6.00%, 06/13/2033 (e)		715		744
Apache Corp., 5.10%, 09/01/2040		220		188
BP Capital Markets BV, (Netherlands), Reg. S, 4.32%, 05/12/2035	EUR	4,150		4,858
BP Capital Markets plc, (United Kingdom),
Reg. S, 1.64%, 06/26/2029	EUR	1,000		1,024
Reg. S, 2.27%, 07/03/2026	GBP	2,000		2,438
Reg. S, (EUR Swap Rate 5 Year + 3.52%), 3.25%, 03/22/2026 (x) (aa)	EUR	1,500		1,598
Reg. S, (EUR Swap Rate 5 Year + 3.78%), 3.63%, 03/22/2029 (x) (aa)	EUR	1,300		1,343
Reg. S, (UK Gilts 5 Year + 3.89%), 4.25%, 03/22/2027 (x) (aa)	GBP	7,900		9,441
Canadian Natural Resources Ltd., (Canada),
3.85%, 06/01/2027		39		38
6.50%, 02/15/2037		410		437
Cepsa Finance SA, (Spain), Reg. S, 2.25%, 02/13/2026	EUR	100		107
Chevron Corp., 1.55%, 05/11/2025		75		72
Chevron USA, Inc.,
1.02%, 08/12/2027		100		89
2.34%, 08/12/2050		244		156
CNOOC Petroleum North America ULC, (Canada), 6.40%, 05/15/2037		60		67
ConocoPhillips Co.,
5.55%, 03/15/2054		50		53
5.70%, 09/15/2063		635		691
Continental Resources, Inc., 4.90%, 06/01/2044		35		28
Devon Energy Corp., 5.88%, 06/15/2028		1,750		1,769
Diamondback Energy, Inc.,
3.13%, 03/24/2031		2,400		2,136
6.25%, 03/15/2033		350		374
Eni SpA, (Italy),
Reg. S, 0.63%, 01/23/2030	EUR	500		475
Reg. S, 1.00%, 03/14/2025	EUR	443		475
Reg. S, 1.00%, 10/11/2034	EUR	1,900		1,623
Reg. S, 1.25%, 05/18/2026	EUR	9,200		9,729


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Oil & Gas — continued
Reg. S, 1.50%, 02/02/2026	EUR	1,000		1,062
Reg. S, 1.50%, 01/17/2027	EUR	2,700		2,846
Reg. S, 1.63%, 05/17/2028	EUR	1,000		1,039
Reg. S, 2.00%, 05/18/2031	EUR	500		506
EOG Resources, Inc., 4.38%, 04/15/2030		110		110
EQT Corp., 5.70%, 04/01/2028		95		97
7.00%, 02/01/2030		3		3
Equinor ASA, (Norway),
Reg. S, 0.75%, 11/09/2026	EUR	1,000		1,040
Reg. S, 1.38%, 05/22/2032	EUR	825		803
1.75%, 01/22/2026		200		189
2.38%, 05/22/2030		260		233
3.25%, 11/18/2049		30		23
3.63%, 04/06/2040		1,800		1,559
3.70%, 04/06/2050		165		137
Reg. S, 6.88%, 03/11/2031	GBP	150		223
Exxon Mobil Corp.,
0.14%, 06/26/2024	EUR	1,500		1,626
0.84%, 06/26/2032	EUR	1,050		960
1.41%, 06/26/2039	EUR	1,205		985
3.45%, 04/15/2051		484		381
Helmerich & Payne, Inc., 2.90%, 09/29/2031		700		590
Hess Corp.,
3.50%, 07/15/2024		10		10
5.60%, 02/15/2041		120		127
5.80%, 04/01/2047		16		17
Marathon Petroleum Corp.,
3.80%, 04/01/2028		250		239
4.50%, 04/01/2048		115		96
5.00%, 09/15/2054		125		111
MOL Hungarian Oil & Gas plc, (Hungary), Reg. S, 1.50%, 10/08/2027	EUR	7,200		7,186
ORLEN SA, (Poland), Reg. S, 1.13%, 05/27/2028	EUR	1,300		1,293
Ovintiv, Inc.,
5.65%, 05/15/2025		735		738
5.65%, 05/15/2028		715		730
Petroleos Mexicanos, (Mexico), (CME Term SOFR 3 Month + 0.69%), 6.07%, 02/15/2024 (aa)		75		75
Pioneer Natural Resources Co.,
1.90%, 08/15/2030		1,050		893
5.10%, 03/29/2026		820		826
Santos Finance Ltd., (Australia), 6.88%, 09/19/2033 (e)		700		742
Shell International Finance BV, (Netherlands),
Reg. S, 1.63%, 01/20/2027	EUR	3,900		4,142
Reg. S, 1.88%, 09/15/2025	EUR	1,000		1,081
Reg. S, 1.88%, 04/07/2032	EUR	1,000		1,011


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Oil & Gas — continued
3.00%, 11/26/2051		78		56
6.38%, 12/15/2038		115		133
TotalEnergies Capital International SA, (France),
Reg. S, 0.95%, 05/18/2031	EUR	1,000		961
Reg. S, 1.38%, 10/04/2029	EUR	2,000		2,029
Reg. S, 1.49%, 09/04/2030	EUR	1,000		1,008
Reg. S, 1.54%, 05/31/2039	EUR	1,000		876
Reg. S, 1.62%, 05/18/2040	EUR	1,000		867
TotalEnergies SE, (France),
Reg. S, (EUR Swap Rate 5 Year + 1.90%), 2.00%, 01/17/2027 (x) (aa)	EUR	2,000		2,034
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.00%, 06/04/2030 (x) (aa)	EUR	1,900		1,770
Reg. S, (EUR Swap Rate 5 Year + 2.94%), 3.25%, 07/17/2036 (x) (aa)	EUR	500		456
Reg. S, (EUR Swap Rate 5 Year + 3.35%), 3.37%, 10/06/2026 (x) (aa)	EUR	3,500		3,761
Series NC7, Reg. S, (EUR Swap Rate 5 Year + 1.99%), 1.63%, 10/25/2027 (x) (aa)	EUR	1,000		987
Series NC12, Reg. S, (EUR Swap Rate 5 Year + 2.51%), 2.13%, 07/25/2032 (x) (aa)	EUR	3,550		3,131
Var Energi ASA, (Norway),
5.00%, 05/18/2027 (e)		1,600		1,561
Reg. S, 5.50%, 05/04/2029	EUR	4,175		4,930


				101,255

Oil & Gas Services — 0.0% (g)
Schlumberger Finance BV, (Netherlands),
Reg. S, 0.00%, 10/15/2024	EUR	1,000		1,071
Reg. S, 0.25%, 10/15/2027	EUR	1,500		1,497
Reg. S, 0.50%, 10/15/2031	EUR	500		456
Schlumberger Finance Canada Ltd., (Canada), 1.40%, 09/17/2025		30		29
Schlumberger Finance France SAS, (France), Reg. S, 1.00%, 02/18/2026	EUR	500		528


				3,581

Pipelines — 0.5%
Cheniere Corpus Christi Holdings LLC,
3.70%, 11/15/2029		88		83
5.88%, 03/31/2025		485		486
Cheniere Energy, Inc., 4.63%, 10/15/2028		860		839
Colonial Enterprises, Inc., 3.25%, 05/15/2030 (e)		1,330		1,209


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE ($)
Long Positions — continued
Corporate Bonds — continued
Pipelines — continued
Columbia Pipeline Group, Inc., 4.50%, 06/01/2025		20		20
Columbia Pipelines Operating Co. LLC,
5.93%, 08/15/2030 (e)		185		192
6.04%, 11/15/2033 (e)		280		294
6.50%, 08/15/2043 (e)		490		526
DCP Midstream Operating LP,
3.25%, 02/15/2032		15		13
5.13%, 05/15/2029		1,500		1,498
5.38%, 07/15/2025		70		70
Enbridge, Inc., (Canada), 5.97%, 03/08/2026		165		165
Energy Transfer LP,
4.20%, 04/15/2027		5,830		5,667
5.55%, 02/15/2028		1,210		1,234
5.75%, 02/15/2033		1,455		1,501
6.05%, 12/01/2026		1,710		1,758
6.40%, 12/01/2030		620		663
6.55%, 12/01/2033		230		250
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa)		1,490		1,416
Enterprise Products Operating LLC, 3.75%, 02/15/2025		50		49
3.90%, 02/15/2024		50		50
4.15%, 10/16/2028		150		148
4.20%, 01/31/2050		40		35
5.10%, 02/15/2045		1,700		1,674
(CME Term SOFR 3 Month + 2.83%), 5.38%, 02/15/2078 (aa)		600		538
Kinder Morgan Energy Partners LP, 4.70%, 11/01/2042		850		731
Kinder Morgan, Inc.,
1.75%, 11/15/2026		390		359
2.25%, 03/16/2027	EUR	1,500		1,590
Magellan Midstream Partners LP,
3.95%, 03/01/2050		105		81
5.00%, 03/01/2026		410		409
MPLX LP,
1.75%, 03/01/2026		400		374
2.65%, 08/15/2030		2,495		2,156
4.13%, 03/01/2027		438		429
4.50%, 04/15/2038		75		67
4.70%, 04/15/2048		1,652		1,427
4.88%, 06/01/2025		2,340		2,325
4.90%, 04/15/2058		90		77
4.95%, 03/14/2052		1,395		1,246
5.20%, 03/01/2047		10		9
5.50%, 02/15/2049		520		505
5.65%, 03/01/2053		65		65
ONEOK, Inc.,
2.20%, 09/15/2025		1,100		1,045
3.40%, 09/01/2029		1,510		1,393
4.45%, 09/01/2049		2,662		2,240
5.65%, 11/01/2028		295		305


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Pipelines — continued
5.85%, 01/15/2026		245		249
6.05%, 09/01/2033		1,100		1,166
6.10%, 11/15/2032		241		257
6.35%, 01/15/2031		90		96
7.15%, 01/15/2051		67		77
Plains All American Pipeline LP / PAA Finance Corp.,
3.55%, 12/15/2029		340		313
4.70%, 06/15/2044		58		49
4.90%, 02/15/2045		172		149
Sabine Pass Liquefaction LLC, 4.50%, 05/15/2030		300		293
Targa Resources Corp., 4.95%, 04/15/2052		835		735
5.20%, 07/01/2027		965		970
6.13%, 03/15/2033		380		401
6.50%, 02/15/2053		520		564
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.00%, 01/15/2028		599		592
Transcontinental Gas Pipe Line Co. LLC,
3.25%, 05/15/2030		80		73
4.00%, 03/15/2028		20		19
7.85%, 02/01/2026		428		448
Western Midstream Operating LP,
4.05%, 02/01/2030		585		549
4.50%, 03/01/2028		1,200		1,161
4.65%, 07/01/2026		480		471
6.15%, 04/01/2033		330		343
6.35%, 01/15/2029		30		31
Williams Cos., Inc. (The),
3.50%, 11/15/2030		1,900		1,743
5.30%, 08/15/2028		2,350		2,407
5.30%, 08/15/2052		40		39
5.80%, 11/15/2043		15		15


				50,421

Total Energy				162,443

Financial — 17.9%
Banks — 12.8%
ABN AMRO Bank NV, (Netherlands),
Reg. S, 0.40%, 09/17/2041	EUR	100		69
Reg. S, 0.60%, 01/15/2027	EUR	10,000		10,185
Reg. S, 1.25%, 01/10/2033	EUR	100		97
Reg. S, 1.38%, 01/16/2025	GBP	1,500		1,836
Reg. S, 1.38%, 01/12/2037	EUR	100		91
Reg. S, 1.45%, 04/12/2038	EUR	100		90
Reg. S, 4.38%, 10/20/2028	EUR	12,700		14,533
(CMT Index 1 Year + 1.65%), 6.34%, 09/18/2027 (e) (aa)		1,100		1,125
(CMT Index 1 Year + 1.55%), 6.58%, 10/13/2026 (e) (aa)		2,100		2,132
Achmea Bank NV, (Netherlands), Reg. S, 0.50%, 02/20/2026	EUR	100		105


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Aegon Bank NV, (Netherlands), Reg. S, 0.01%, 11/16/2025	EUR	100		104
AIB Group plc, (Ireland),
Reg. S, (EUR Swap Rate 1 Year + 1.30%), 2.25%, 04/04/2028 (aa)	EUR	1,000		1,058
Reg. S, (EUR Swap Rate 1 Year + 2.00%), 3.63%, 07/04/2026 (aa)	EUR	1,500		1,656
AMCO—Asset Management Co. SpA, (Italy),
Reg. S, 0.75%, 04/20/2028	EUR	163		158
Reg. S, 1.38%, 01/27/2025	EUR	100		107
ANZ New Zealand Int’l Ltd., (New Zealand), Reg. S, 0.20%, 09/23/2027	EUR	6,000		5,921
Argenta Spaarbank NV, (Belgium), Reg. S, 3.38%, 06/22/2028	EUR	100		113
Arion Banki HF, (Iceland),
Reg. S, 0.05%, 10/05/2026	EUR	100		101
Reg. S, 0.38%, 07/14/2025	EUR	2,950		3,052
ASB Bank Ltd., (New Zealand),
Reg. S, 0.25%, 09/08/2028	EUR	1,000		960
Reg. S, 0.50%, 09/24/2029	EUR	1,000		950
Australia & New Zealand Banking Group Ltd., (Australia),
Reg. S, 0.25%, 03/17/2025	EUR	100		106
Reg. S, (EUR Swap Rate 5 Year + 1.12%), 0.67%, 05/05/2031 (aa)	EUR	2,925		2,958
Banca Monte dei Paschi di Siena SpA, (Italy), Reg. S, 0.88%, 10/08/2026	EUR	3,504		3,606
Banco Bilbao Vizcaya Argentaria SA, (Spain),
Reg. S, (ICE LIBOR EUR 3 Month + 0.52%), 0.13%, 03/24/2027 (aa)	EUR	6,700		6,885
Reg. S, 0.38%, 10/02/2024	EUR	1,000		1,076
Reg. S, 0.38%, 11/15/2026	EUR	1,000		1,022
Reg. S, 0.50%, 01/14/2027	EUR	1,000		1,018
Reg. S, 1.00%, 06/21/2026	EUR	1,000		1,048
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.00%, 01/16/2030 (aa)	EUR	1,000		1,061
Reg. S, 1.38%, 05/14/2025	EUR	1,000		1,070
Reg. S, 1.75%, 11/26/2025	EUR	10,900		11,701
Reg. S, 3.38%, 09/20/2027	EUR	6,800		7,572
Reg. S, 3.50%, 02/10/2027	EUR	500		552
Reg. S, (UK Gilts 5 Year + 3.60%), 8.25%, 11/30/2033 (aa)	GBP	10,000		13,702
Banco BPI SA, (Portugal), Reg. S, 3.63%, 07/04/2028	EUR	1,600		1,810
Banco de Sabadell SA, (Spain),
Reg. S, (EUR Swap Rate 1 Year + 0.97%), 0.63%, 11/07/2025 (aa)	EUR	3,700		3,968
Reg. S, 0.88%, 07/22/2025	EUR	7,500		7,964
Reg. S, (EUR Swap Rate 1 Year + 1.55%), 1.13%, 03/11/2027 (aa)	EUR	2,900		3,037
Reg. S, 1.75%, 05/30/2029	EUR	100		103


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, (EUR Swap Rate 1 Year + 2.20%), 2.63%, 03/24/2026 (aa)	EUR	1,500		1,623
Banco Santander SA, (Spain),
Reg. S, 0.01%, 02/27/2025	EUR	100		106
Reg. S, 0.10%, 02/27/2032	EUR	200		175
Reg. S, 0.20%, 02/11/2028	EUR	5,900		5,759
Reg. S, 1.00%, 04/07/2025	EUR	100		107
Reg. S, 1.13%, 10/25/2028	EUR	100		102
Reg. S, 1.38%, 01/05/2026	EUR	200		212
Reg. S, 1.63%, 10/22/2030	EUR	1,900		1,805
Reg. S, 2.38%, 09/08/2027	EUR	100		108
2.75%, 05/28/2025		200		193
Reg. S, (EUR Swap Rate 1 Year + 1.05%), 3.63%, 09/27/2026 (aa)	EUR	2,000		2,211
Reg. S, 3.88%, 01/16/2028	EUR	10,000		11,297
Reg. S, 5.13%, 01/25/2030	GBP	1,000		1,294
5.29%, 08/18/2027		200		201
5.59%, 08/08/2028		800		816
6.92%, 08/08/2033		1,000		1,068
6.94%, 11/07/2033		2,400		2,668
Series DIP, Reg. S, 3.25%, 04/04/2026	EUR	10,000		10,962
Bank of America Corp.,
Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.81%, 05/09/2026 (aa)	EUR	1,900		2,015
(United States SOFR + 0.65%), 1.53%, 12/06/2025 (aa)		25		24
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 1.66%, 04/25/2028 (aa)	EUR	2,340		2,441
Reg. S, (UK Gilts 1 Year + 1.10%), 1.67%, 06/02/2029 (aa)	GBP	2,000		2,239
(United States SOFR + 0.96%), 1.73%, 07/22/2027 (aa)		1,465		1,343
Reg. S, (ICE LIBOR EUR 3 Month + 0.91%), 1.95%, 10/27/2026 (aa)	EUR	2,000		2,142
(United States SOFR + 1.06%), 2.09%, 06/14/2029 (aa)		1,500		1,323
(United States SOFR + 1.22%), 2.30%, 07/21/2032 (aa)		1,000		818
Reg. S, 2.30%, 07/25/2025	GBP	1,000		1,222
(CME Term SOFR 3 Month + 1.25%), 2.50%, 02/13/2031 (aa)		3,300		2,838
(United States SOFR + 1.21%), 2.57%, 10/20/2032 (aa)		2,605		2,164
(United States SOFR + 1.93%), 2.68%, 06/19/2041 (aa)		1,920		1,380
(United States SOFR + 1.32%), 2.69%, 04/22/2032 (aa)		2,150		1,819
(CME Term SOFR 3 Month + 1.45%), 2.88%, 10/22/2030 (aa)		65		58
(CME Term SOFR 3 Month + 1.35%), 3.09%, 10/01/2025 (aa)		10		10
(United States SOFR + 1.58%), 3.31%, 04/22/2042 (aa)		60		47
(United States SOFR + 1.33%), 3.38%, 04/02/2026 (aa)		1,000		973


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
(CME Term SOFR 3 Month + 1.30%), 3.42%, 12/20/2028 (aa)		350		329
Reg. S, (UK Gilts 1 Year + 1.75%), 3.58%, 04/27/2031 (aa)	GBP	1,500		1,787
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa)		1,235		1,227
(CME Term SOFR 3 Month + 1.33%), 3.97%, 03/05/2029 (aa)		1,140		1,089
4.00%, 01/22/2025		4,200		4,144
(CME Term SOFR 3 Month + 1.58%), 4.08%, 04/23/2040 (aa)		100		88
(CME Term SOFR 3 Month + 3.41%), 4.08%, 03/20/2051 (aa)		50		42
(United States SOFR + 1.58%), 4.38%, 04/27/2028 (aa)		1,340		1,310
(United States SOFR + 1.75%), 4.83%, 07/22/2026 (aa)		115		114
4.88%, 04/01/2044		25		24
(United States SOFR + 2.04%), 4.95%, 07/22/2028 (aa)		1,720		1,721
5.00%, 01/21/2044		20		20
(United States SOFR + 2.16%), 5.02%, 07/22/2033 (aa)		470		466
(United States SOFR + 1.63%), 5.20%, 04/25/2029 (aa)		250		252
(United States SOFR + 1.91%), 5.29%, 04/25/2034 (aa)		1,351		1,358
(United States SOFR + 1.99%), 6.20%, 11/10/2028 (aa)		205		214
Reg. S, 7.00%, 07/31/2028	GBP	650		914
Series N, (United States SOFR + 1.22%), 2.65%, 03/11/2032 (aa)		1,000		846
Series N, (United States SOFR + 1.65%), 3.48%, 03/13/2052 (aa)		180		139
Bank of Montreal, (Canada),
Reg. S, 0.05%, 06/08/2029	EUR	100		95
Reg. S, 0.13%, 01/26/2027	EUR	1,800		1,823
Reg. S, 1.00%, 04/05/2026	EUR	100		106
2.65%, 03/08/2027		30		28
3.70%, 06/07/2025		370		363
5.30%, 06/05/2026		130		131
5.72%, 09/25/2028		230		238
5.92%, 09/25/2025		180		183
Bank of New York Mellon Corp. (The),
2.05%, 01/26/2027		3		3
3.00%, 10/30/2028		29		27
(United States SOFR + 1.15%), 3.99%, 06/13/2028 (aa)		6		6
(United States SOFR + 1.35%), 4.41%, 07/24/2026 (aa)		163		161
(United States SOFR + 1.17%), 4.54%, 02/01/2029 (aa)		210		209
(United States SOFR + 1.51%), 4.71%, 02/01/2034 (aa)		100		98


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
(SOFR Compounded Index + 1.80%), 5.80%, 10/25/2028 (aa)		37		38
Bank of New Zealand, (New Zealand), Reg. S, 2.55%, 06/29/2027	EUR	100		109
Bank of Nova Scotia (The), (Canada),
Reg. S, 0.01%, 01/14/2027	EUR	1,900		1,922
Reg. S, 0.38%, 03/26/2030	EUR	100		94
1.05%, 03/02/2026		170		157
3.45%, 04/11/2025		510		499
Bankinter SA, (Spain),
Reg. S, 0.88%, 07/08/2026	EUR	3,000		3,113
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.25%, 12/23/2032 (aa)		EUR 3,600		3,539
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 0.01%, 03/07/2025	EUR	1,000		1,057
Reg. S, 0.01%, 05/11/2026	EUR	1,000		1,026
Reg. S, 0.63%, 11/03/2028	EUR	1,000		965
Reg. S, 0.75%, 06/08/2026	EUR	1,000		1,039
Reg. S, 0.75%, 01/17/2030	EUR	1,000		933
Reg. S, 1.00%, 05/23/2025	EUR	4,000		4,266
Reg. S, 1.13%, 11/19/2031	EUR	600		535
Reg. S, 1.25%, 05/26/2027	EUR	1,000		1,035
Reg. S, 1.25%, 06/03/2030	EUR	1,000		955
Reg. S, 1.38%, 07/16/2028	EUR	3,000		3,076
Reg. S, 1.88%, 11/04/2026	EUR	1,200		1,268
Reg. S, 1.88%, 06/18/2029	EUR	1,000		1,007
Reg. S, 2.50%, 05/25/2028	EUR	1,500		1,586
Reg. S, 2.63%, 11/06/2029	EUR	500		524
Reg. S, 3.00%, 05/21/2024	EUR	2,000		2,197
Reg. S, 3.00%, 09/11/2025	EUR	7,000		7,666
Reg. S, 3.13%, 09/14/2027	EUR	3,400		3,739
Reg. S, 3.63%, 09/14/2032	EUR	3,000		3,353
Reg. S, (EUR Swap Rate 5 Year + 2.20%), 3.88%, 06/16/2032 (aa)	EUR	1,000		1,090
4.94%, 01/26/2026 (e)		2,000		1,993
Reg. S, 5.00%, 01/19/2026	GBP	10,000		12,776
5.90%, 07/13/2026 (e)		2,800		2,860
Barclays Bank plc, (United Kingdom), Reg. S, 5.75%, 09/14/2026	GBP	90		117
Barclays plc, (United Kingdom),
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.85%), 0.88%, 01/28/2028 (aa)	EUR	2,000		2,026
Reg. S, 3.00%, 05/08/2026	GBP	100		121
Reg. S, 3.25%, 02/12/2027	GBP	1,200		1,444
Reg. S, (UK Gilts 5 Year + 3.75%), 3.75%, 11/22/2030 (aa)	GBP	825		1,000
Reg. S, (EUR Swap Rate 1 Year + 1.75%), 4.92%, 08/08/2030 (aa)	EUR	2,000		2,299
(United States SOFR + 1.88%), 6.50%, 09/13/2027 (aa)		1,705		1,755
(CMT Index 1 Year + 3.50%), 7.44%, 11/02/2033 (aa)		855		959


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Basellandschaftliche Kantonalbank, (Switzerland), Reg. S, 0.38%, 05/13/2030	CHF	100		111
Bausparkasse Schwaebisch Hall AG, (Germany), Reg. S, 2.00%, 05/17/2034	EUR	100		102
BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG, (Austria),
Reg. S, 0.10%, 05/12/2031	EUR	100		90
Reg. S, 2.00%, 08/25/2032	EUR	100		102
Bayerische Landesbank, (Germany),
Reg. S, 0.13%, 11/02/2029	EUR	50		48
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.38%, 11/22/2032 (aa)	EUR	100		90
Reg. S, 2.13%, 09/01/2031	EUR	50		53
Reg. S, 3.75%, 02/07/2029	EUR	200		223
Belfius Bank SA, (Belgium),
Reg. S, 1.00%, 10/26/2024	EUR	5,000		5,388
Reg. S, 3.25%, 10/18/2027	EUR	100		112
Bendigo & Adelaide Bank Ltd., (Australia), Reg. S, 4.02%, 10/04/2026	EUR	100		113
Berlin Hyp AG, (Germany),
Reg. S, 0.01%, 08/24/2026	EUR	100		103
Reg. S, 0.01%, 07/07/2028	EUR	100		98
Reg. S, 1.75%, 05/10/2032	EUR	50		51
Series 200, Reg. S, 0.38%, 02/21/2025	EUR	100		107
BNP Paribas SA, (France),
Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.50%, 07/15/2025 (aa)	EUR	500		542
Reg. S, (ICE LIBOR EUR 3 Month + 0.73%), 0.50%, 02/19/2028 (aa)	EUR	1,000		1,004
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 0.50%, 09/01/2028 (aa)	EUR	3,900		3,861
Reg. S, (ICE LIBOR EUR 3 Month + 0.83%), 0.50%, 01/19/2030 (aa)	EUR	3,500		3,311
Reg. S, 0.63%, 12/03/2032	EUR	1,400		1,203
Reg. S, (ICE LIBOR EUR 3 Month + 0.83%), 0.88%, 07/11/2030 (aa)	EUR	3,000		2,853
Reg. S, (EUR Swap Rate 5 Year + 1.17%), 0.88%, 08/31/2033 (aa)	EUR	1,000		947
Reg. S, 1.13%, 08/28/2024	EUR	500		542
Reg. S, 1.13%, 06/11/2026	EUR	1,000		1,051
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.13%, 01/15/2032 (aa)	EUR	1,500		1,509
Reg. S, 1.38%, 05/28/2029	EUR	200		198
Reg. S, 1.50%, 05/23/2028	EUR	500		517
Reg. S, 1.50%, 05/25/2028	EUR	1,500		1,566
(United States SOFR + 0.91%), 1.68%, 06/30/2027 (e) (aa)		1,250		1,145
Reg. S, 1.88%, 12/14/2027	GBP	2,000		2,294
Reg. S, (UK Gilts 5 Year + 1.65%), 2.00%, 05/24/2031 (aa)	GBP	2,500		2,888


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, 2.10%, 04/07/2032	EUR	1,500		1,478
Reg. S, 2.25%, 01/11/2027	EUR	500		536
Reg. S, 2.38%, 02/17/2025	EUR	1,000		1,088
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.60%), 2.50%, 03/31/2032 (aa)	EUR	4,300		4,489
Reg. S, 2.88%, 02/24/2029	GBP	2,000		2,324
Reg. S, 3.38%, 01/23/2026	GBP	600		741
Reg. S, (ICE LIBOR EUR 3 Month + 0.92%), 3.88%, 01/10/2031 (aa)	EUR	3,400		3,862
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 4.13%, 09/26/2032 (aa)	EUR	16,300		18,843
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 4.38%, 01/13/2029 (aa)	EUR	5,900		6,742
Reg. S, 5.75%, 06/13/2032	GBP	4,500		6,040
BPCE SA, (France),
Reg. S, 0.25%, 01/15/2026	EUR	6,200		6,432
Reg. S, 0.25%, 01/14/2031	EUR	1,900		1,687
Reg. S, 0.63%, 09/26/2024	EUR	1,500		1,616
Reg. S, 0.63%, 04/28/2025	EUR	1,000		1,063
Reg. S, 0.88%, 01/31/2024	EUR	1,200		1,321
Reg. S, 1.00%, 12/22/2025	GBP	2,000		2,377
Reg. S, 1.00%, 10/05/2028	EUR	500		504
Reg. S, 3.50%, 01/25/2028	EUR	10,000		11,157
Reg. S, 4.00%, 11/29/2032	EUR	4,300		4,957
4.63%, 07/11/2024 (e)		1,200		1,187
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.65%), 5.75%, 06/01/2033 (aa)	EUR	2,900		3,382
(United States SOFR + 2.10%), 5.98%, 01/18/2027 (e) (aa)		1,700		1,714
Caixa Geral de Depositos SA, (Portugal), Reg. S, (EUR Swap Rate 1 Year + 2.75%), 5.75%, 10/31/2028 (aa)	EUR	100		119
CaixaBank SA, (Spain),
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 0.50%, 02/09/2029 (aa)	EUR	1,500		1,459
Reg. S, (ICE LIBOR EUR 3 Month + 1.00%), 0.75%, 05/26/2028 (aa)	EUR	2,100		2,112
Reg. S, 1.00%, 09/25/2025	EUR	200		213
Reg. S, 1.25%, 01/11/2027	EUR	200		210
Reg. S, (EUR Swap Rate 5 Year + 1.63%), 1.25%, 06/18/2031 (aa)	EUR	500		514
Reg. S, 1.38%, 06/19/2026	EUR	2,300		2,410
Reg. S, (EUR Swap Rate 5 Year + 1.68%), 2.25%, 04/17/2030 (aa)	EUR	1,000		1,065
Reg. S, 3.75%, 09/07/2029	EUR	2,500		2,829
Reg. S, (EUR Swap Rate 5 Year + 3.55%), 6.25%, 02/23/2033 (aa)	EUR	1,400		1,630
(United States SOFR + 2.08%), 6.68%, 09/13/2027 (e) (aa)		1,750		1,795
Caja Rural de Navarra SCC, (Spain), Reg. S, 3.00%, 04/26/2027	EUR	100		110
Canadian Imperial Bank of Commerce, (Canada),
Reg. S, 0.04%, 07/09/2027	EUR	100		100
3.95%, 08/04/2025		350		344


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Cie de Financement Foncier SA, (France),
Reg. S, 0.60%, 10/25/2041	EUR	100		73
Reg. S, 0.75%, 01/21/2025	EUR	100		107
Reg. S, 0.75%, 05/29/2026	EUR	100		105
Reg. S, 2.38%, 03/15/2030	EUR	100		108
Reg. S, 3.38%, 09/16/2031	EUR	100		114
Reg. S, 3.88%, 04/25/2055	EUR	20		26
Citigroup, Inc.,
(United States SOFR + 0.67%), 0.98%, 05/01/2025 (aa)		640		629
(United States SOFR + 0.77%), 1.12%, 01/28/2027 (aa)		130		119
Reg. S, (ICE LIBOR EUR 3 Month + 1.66%), 1.25%, 07/06/2026 (aa)	EUR	2,000		2,125
(United States SOFR + 0.77%), 1.46%, 06/09/2027 (aa)		3,250		2,975
1.75%, 01/28/2025	EUR	700		756
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa)		90		86
(United States SOFR + 1.18%), 2.52%, 11/03/2032 (aa)		465		384
(United States SOFR + 1.17%), 2.56%, 05/01/2032 (aa)		1,060		886
(United States SOFR + 2.11%), 2.57%, 06/03/2031 (aa)		3,600		3,080
(United States SOFR + 1.38%), 2.90%, 11/03/2042 (aa)		75		54
(United States SOFR + 1.42%), 2.98%, 11/05/2030 (aa)		500		446
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa)		155		151
(United States SOFR + 1.53%), 3.29%, 03/17/2026 (aa)		1,000		974
(CME Term SOFR 3 Month + 1.16%), 3.35%, 04/24/2025 (aa)		65		64
(CME Term SOFR 3 Month + 1.65%), 3.67%, 07/24/2028 (aa)		700		668
(United States SOFR + 1.94%), 3.79%, 03/17/2033 (aa)		100		90
(CME Term SOFR 3 Month + 1.45%), 4.08%, 04/23/2029 (aa)		1,695		1,633
(CME Term SOFR 3 Month + 2.10%), 4.28%, 04/24/2048 (aa)		160		140
4.40%, 06/10/2025		3,500		3,455
4.65%, 07/30/2045		10		9
4.65%, 07/23/2048		25		23
(United States SOFR + 4.55%), 5.32%, 03/26/2041 (aa)		100		101
6.00%, 10/31/2033		50		53
(United States SOFR + 2.66%), 6.17%, 05/25/2034 (aa)		2,260		2,343
Clydesdale Bank plc, (United Kingdom),
Reg. S, 2.50%, 06/22/2027	EUR	5,000		5,424


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Commerzbank AG, (Germany),
Reg. S, 0.01%, 03/11/2030	EUR	100		94
Reg. S, 0.10%, 09/11/2025	EUR	939		982
Reg. S, 0.25%, 01/12/2032	EUR	100		90
Reg. S, 0.88%, 09/08/2025	EUR	100		107
Reg. S, 1.00%, 03/04/2026	EUR	1,500		1,581
Reg. S, 1.13%, 06/22/2026	EUR	1,100		1,151
Reg. S, 2.88%, 04/28/2026	EUR	100		111
Reg. S, (ICE LIBOR EUR 3 Month + 1.50%), 3.00%, 09/14/2027 (aa)	EUR	1,000		1,080
Reg. S, 3.13%, 04/20/2029	EUR	100		113
Reg. S, (ICE LIBOR EUR 3 Month + 2.20%), 4.63%, 03/21/2028 (aa)	EUR	4,000		4,517
Reg. S, (ICE LIBOR EUR 3 Month + 1.95%), 5.25%, 03/25/2029 (aa)	EUR	1,400		1,622
Commonwealth Bank of Australia, (Australia),
Reg. S, 0.75%, 02/28/2028	EUR	100		101
Reg. S, 1.13%, 01/18/2028	EUR	1,000		1,034
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.94%, 10/03/2029 (aa)		EUR 1,825		1,963
Reg. S, 3.25%, 10/24/2025	EUR	100		111
Cooperatieve Rabobank UA, (Netherlands),
Reg. S, 0.01%, 11/27/2040	EUR	100		66
Reg. S, 0.75%, 03/02/2032	EUR	100		94
Reg. S, 0.88%, 02/08/2028	EUR	200		206
Reg. S, (ICE LIBOR EUR 3 Month + 1.18%), 0.88%, 05/05/2028 (aa)	EUR	700		712
Reg. S, 0.88%, 02/01/2029	EUR	100		101
Reg. S, 1.25%, 03/23/2026	EUR	1,475		1,569
Reg. S, 1.38%, 02/03/2027	EUR	25		26
Reg. S, (EUR Swap Rate 5 Year + 1.95%), 3.88%, 11/30/2032 (aa)	EUR	2,100		2,317
4.38%, 08/04/2025		890		874
Reg. S, (ICE LIBOR EUR 3 Month + 1.55%), 4.63%, 01/27/2028 (aa)	EUR	15,700		17,941
Reg. S, 5.25%, 05/23/2041	GBP	50		70
Credit Agricole Italia SpA, (Italy),
Reg. S, 0.13%, 03/15/2033	EUR	100		83
Reg. S, 3.50%, 01/15/2030	EUR	100		113
Credit Agricole SA, (France),
Reg. S, 0.38%, 10/21/2025	EUR	7,000		7,364
Reg. S, 1.00%, 09/18/2025	EUR	15,000		15,988
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 1.00%, 04/22/2026 (aa)	EUR	3,000		3,194
Reg. S, 1.75%, 03/05/2029	EUR	1,100		1,121
Reg. S, (UK Gilts 5 Year + 1.50%), 1.87%, 12/09/2031 (aa)	GBP	600		682
Reg. S, 1.88%, 12/20/2026	EUR	1,000		1,062
Reg. S, (ICE LIBOR EUR 3 Month + 0.77%), 1.88%, 04/22/2027 (aa)	EUR	1,000		1,064
Reg. S, 2.38%, 05/20/2024	EUR	600		658
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 4.00%, 10/12/2026 (aa)	EUR	2,000		2,225
Reg. S, 4.00%, 01/18/2033	EUR	5,500		6,378


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Reg. S, (UK Gilts 1 Year + 2.18%), 6.38%, 06/14/2031 (aa)	GBP	7,300		10,016
Credit Mutuel Arkea SA, (France),
Reg. S, 3.25%, 06/01/2026	EUR	500		553
Reg. S, 3.38%, 09/19/2027	EUR	3,000		3,322
Reg. S, 4.25%, 12/01/2032	EUR	3,600		4,176
Credit Suisse AG, (Switzerland),
Reg. S, 0.25%, 01/05/2026	EUR	1,300		1,346
Reg. S, 0.25%, 09/01/2028	EUR	1,200		1,150
Reg. S, 1.50%, 04/10/2026	EUR	400		422
Reg. S, 5.50%, 08/20/2026	EUR	2,000		2,319
7.95%, 01/09/2025		1,700		1,738
Credit Suisse Schweiz AG, (Switzerland),
Reg. S, 0.00%, 10/31/2030	CHF	25		27
Reg. S, 3.39%, 12/05/2025	EUR	100		110
Credito Emiliano SpA, (Italy),
Reg. S, 0.01%, 07/07/2028	EUR	100		97
Reg. S, (ICE LIBOR EUR 3 Month + 1.05%), 1.13%, 01/19/2028 (aa)	EUR	2,000		2,043
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 4.88%, 03/26/2030 (aa)	EUR	12,900		14,687
Crelan SA, (Belgium),
Reg. S, 5.38%, 10/31/2025	EUR	1,200		1,360
Reg. S, 5.75%, 01/26/2028	EUR	1,100		1,270
Danske Bank A/S, (Denmark),
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 0.50%, 08/27/2025 (aa)	EUR	425		459
Reg. S, 0.63%, 05/26/2025	EUR	3,000		3,183
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.88%), 0.75%, 06/09/2029 (aa)	EUR	3,500		3,420
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.00%, 05/15/2031 (aa)	EUR	1,000		1,030
Reg. S, (EUR Swap Rate 1 Year + 0.85%), 1.38%, 02/17/2027 (aa)	EUR	1,000		1,051
Reg. S, (UK Gilts 1 Year + 1.65%), 2.25%, 01/14/2028 (aa)	GBP	5,000		5,815
(CMT Index 1 Year + 1.18%), 6.26%, 09/22/2026 (e) (aa)		1,480		1,506
(CMT Index 1 Year + 2.10%), 6.47%, 01/09/2026 (e) (aa)		1,175		1,183
Danske Hypotek AB, (Sweden),
Series 2512, Reg. S, 1.00%, 12/17/2025	SEK	2,000		190
Series 2812, Reg. S, 3.50%, 12/20/2028	SEK	2,000		204
Danske Mortgage Bank plc, (Finland), Reg. S, 0.01%, 11/24/2026	EUR	100		102
DBS Bank Ltd., (Singapore), Reg. S, 2.81%, 10/13/2025	EUR	100		110
de Volksbank NV, (Netherlands), Reg. S, 1.00%, 03/08/2028	EUR	100		103
Deutsche Apotheker-und Aerztebank eG, (Germany), Reg. S, 0.01%, 02/06/2029	EUR	100		97


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Deutsche Bank AG, (Germany),
Reg. S, 0.13%, 01/21/2030	EUR	75		71
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 1.00%, 11/19/2025 (aa)	EUR	200		215
Reg. S, (ICE LIBOR EUR 3 Month + 1.67%), 1.38%, 06/10/2026 (aa)	EUR	1,000		1,070
Reg. S, 1.63%, 01/20/2027	EUR	2,100		2,176
Reg. S, (ICE LIBOR EUR 3 Month + 1.38%), 1.88%, 02/23/2028 (aa)	EUR	2,900		3,007
(United States SOFR + 1.87%), 2.13%, 11/24/2026 (aa)		2,950		2,766
Reg. S, 2.25%, 09/20/2027	EUR	100		109
Reg. S, 2.63%, 12/16/2024	GBP	1,500		1,852
Reg. S, 3.13%, 10/19/2026	EUR	100		112
(United States SOFR + 2.26%), 3.74%, 01/07/2033 (aa)		200		164
Reg. S, (SONIA Interest Rate Benchmark + 1.94%), 4.00%, 06/24/2026 (aa)	GBP	2,000		2,477
Reg. S, 4.00%, 11/29/2027	EUR	4,100		4,649
Reg. S, (ICE LIBOR EUR 3 Month + 2.95%), 5.00%, 09/05/2030 (aa)	EUR	800		911
Reg. S, (ICE LIBOR EUR 3 Month + 2.50%), 5.38%, 01/11/2029 (aa)	EUR	1,300		1,501
(United States SOFR + 3.18%), 6.72%, 01/18/2029 (aa)		1,575		1,651
(United States SOFR + 3.65%), 7.08%, 02/10/2034 (aa)		2,160		2,224
(United States SOFR + 2.52%), 7.15%, 07/13/2027 (aa)		780		810
Deutsche Kreditbank AG, (Germany), Reg. S, 1.63%, 05/05/2032	EUR	50		51
Deutsche Pfandbriefbank AG, (Germany),
Reg. S, 0.63%, 08/30/2027	EUR	100		102
Reg. S, 1.00%, 04/13/2026	EUR	100		105
Dexia Credit Local SA, (France),
Reg. S, 0.00%, 01/21/2028	EUR	700		698
Reg. S, 0.01%, 01/22/2027	EUR	500		510
Reg. S, 0.63%, 01/17/2026	EUR	600		634
Reg. S, 2.13%, 02/12/2025	GBP	400		494
Reg. S, 3.13%, 06/01/2028	EUR	200		226
DNB Bank ASA, (Norway), Reg. S, (EUR Swap Rate 5 Year + 2.00%), 4.63%, 02/28/2033 (aa)	EUR	5,425		6,130
DNB Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 05/12/2028	EUR	5,000		4,896
Reg. S, 0.01%, 01/21/2031	EUR	100		91
Reg. S, 0.38%, 11/20/2024	EUR	100		107
DZ HYP AG, (Germany),
Reg. S, 0.01%, 06/23/2028	EUR	100		98
Reg. S, 0.01%, 10/27/2028	EUR	25		24
Reg. S, 0.38%, 06/06/2025	EUR	100		106
Reg. S, 0.38%, 03/31/2026	EUR	100		105
Reg. S, 0.88%, 04/17/2034	EUR	100		91
Reg. S, 3.00%, 10/29/2027	EUR	50		56
Reg. S, 3.00%, 11/30/2032	EUR	100		113


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Eika Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 03/12/2027	EUR	100		101
Reg. S, 0.38%, 02/26/2025	EUR	100		107
Erste Group Bank AG, (Austria),
Reg. S, (ICE LIBOR EUR 3 Month + 0.52%), 0.10%, 11/16/2028 (aa)	EUR	1,000		974
Reg. S, 0.13%, 05/17/2028	EU	R 1,000		968
Reg. S, 0.50%, 01/12/2037	EUR	100		80
Reg. S, 0.75%, 02/05/2025	EUR	100		107
Reg. S, 0.88%, 05/22/2026	EUR	1,000		1,045
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.10%), 0.88%, 11/15/2032 (aa)	EUR	4,500		4,335
Reg. S, 1.50%, 04/07/2026	EUR	1,000		1,062
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.10%), 1.63%, 09/08/2031 (aa)	EUR	1,000		1,030
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 4.00%, 01/16/2031 (aa)	EUR	1,500		1,712
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 4.25%, 05/30/2030 (aa)	EUR	9,800		11,224
Federation des Caisses Desjardins du Quebec, (Canada), Reg. S, 0.01%, 04/08/2026	EUR	100		103
Fifth Third Bancorp, (United States SOFR + 2.34%), 6.34%, 07/27/2029 (aa)		1,525		1,589
First Abu Dhabi Bank PJSC, (United Arab Emirates), Reg. S, 0.13%, 02/16/2026	EUR	1,000		1,019
Goldman Sachs Group, Inc. (The),
Reg. S, 0.13%, 08/19/2024	EUR	1,000		1,078
Reg. S, 0.25%, 01/26/2028	EUR	1,000		977
Reg. S, 0.88%, 05/09/2029	EUR	1,000		959
Reg. S, 1.00%, 03/18/2033	EUR	1,000		877
Reg. S, 1.50%, 12/07/2027	GBP	3,000		3,415
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa)		1,815		1,661
2.60%, 02/07/2030		1,895		1,667
(United States SOFR + 1.28%), 2.62%, 04/22/2032 (aa)		2,715		2,283
(United States SOFR + 1.26%), 2.65%, 10/21/2032 (aa)		600		501
(United States SOFR + 1.47%), 2.91%, 07/21/2042 (aa)		865		633
(United States SOFR + 1.41%), 3.10%, 02/24/2033 (aa)		141		121
Reg. S, 3.13%, 07/25/2029	GBP	1,500		1,769
Reg. S, 3.38%, 03/27/2025	EUR	4,000		4,406
(United States SOFR + 1.85%), 3.62%, 03/15/2028 (aa)		480		461
Reg. S, (UK Gilts 1 Year + 1.95%), 3.63%, 10/29/2029 (aa)	GBP	2,000		2,410
(CME Term SOFR 3 Month + 1.63%), 4.02%, 10/31/2038 (aa)		60		52
Reg. S, 4.25%, 01/29/2026	GBP	2,000		2,524
(United States SOFR + 1.51%), 4.39%, 06/15/2027 (aa)		1,360		1,339


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
(United States SOFR + 1.73%), 4.48%, 08/23/2028 (aa)		495		487
6.75%, 10/01/2037		170		188
6.88%, 01/18/2038	GBP	825		1,156
Groupe des Assurances du Credit Mutuel SADIR, (France), Reg. S, (ICE LIBOR EUR 3 Month + 2.65%), 1.85%, 04/21/2042 (aa)	EUR	2,200		1,960
Hamburg Commercial Bank AG, (Germany), Reg. S, 3.38%, 02/01/2028	EUR	50		56
HSBC Bank Canada, (Canada), Reg. S, 1.50%, 09/15/2027	EUR	100		105
HSBC Holdings plc, (United Kingdom),
(United States SOFR + 1.29%), 2.21%, 08/17/2029 (aa)		945		826
Reg. S, 2.50%, 03/15/2027	EUR	2,000		2,164
(United States SOFR + 1.43%), 3.00%, 03/10/2026 (aa)		400		388
Reg. S, 3.00%, 06/30/2025	EUR	5,000		5,461
(GBP Swap Rate 1 Year + 1.77%), 3.00%, 05/29/2030 (aa)	GBP	225		258
Reg. S, 3.13%, 06/07/2028	EUR	11,000		11,923
(CME Term SOFR 3 Month + 1.87%), 3.97%, 05/22/2030 (aa)		900		841
(United States SOFR + 2.53%), 4.76%, 03/29/2033 (aa)		430		401
Reg. S, (ICE LIBOR EUR 3 Month + 1.94%), 4.86%, 05/23/2033 (aa)	EUR	11,600		13,583
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa)		1,720		1,745
Reg. S, 6.00%, 03/29/2040	GBP	5,000		6,389
(United States SOFR + 1.97%), 6.16%, 03/09/2029 (aa)		350		362
(United States SOFR + 2.65%), 6.33%, 03/09/2044 (aa)		1,055		1,140
6.50%, 09/15/2037		400		420
(United States SOFR + 2.98%), 6.55%, 06/20/2034 (aa)		280		293
(SONIA Interest Rate Benchmark + 2.12%), 6.80%, 09/14/2031 (aa)	GBP	4,500		6,180
Reg. S, 7.00%, 04/07/2038	GBP	300		419
Huntington Bancshares, Inc., (United States SOFR + 2.02%), 6.21%, 08/21/2029 (aa)		365		377
HYPO NOE Landesbank fuer Niederoesterreich und Wien AG, (Austria),
Reg. S, 0.13%, 06/30/2026	EUR	200		202
Reg. S, 3.25%, 04/19/2028	EUR	100		112
Hypo Vorarlberg Bank AG, (Austria),
Reg. S, 0.75%, 02/11/2025	EUR	100		107
Reg. S, 4.13%, 02/16/2026	EUR	100		110
Iccrea Banca SpA, (Italy), Reg. S, 3.88%, 01/12/2029	EUR	100		114


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Industrial & Commercial Bank of China Ltd., (China), Reg. S, 0.13%, 10/28/2024	EUR	2,500		2,664
ING Bank NV, (Netherlands),
Reg. S, 0.13%, 12/08/2031	EUR	100		90
Reg. S, 0.75%, 02/18/2029	EUR	100		101
Reg. S, 2.50%, 02/21/2030	EUR	100		109
ING Belgium SA, (Belgium), Reg. S, 0.01%, 02/20/2030	EUR	100		93
ING Groep NV, (Netherlands),
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 0.10%, 09/03/2025 (aa)	EUR	1,000		1,076
Reg. S, (ICE LIBOR EUR 3 Month + 0.43%), 0.13%, 11/29/2025 (aa)	EUR	1,500		1,599
Reg. S, (ICE LIBOR EUR 3 Month + 0.70%), 0.38%, 09/29/2028 (aa)	EUR	1,000		979
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.15%), 0.88%, 06/09/2032 (aa)	EUR	1,000		991
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.00%, 11/13/2030 (aa)	EUR	1,000		1,034
Reg. S, (EUR Swap Rate 5 Year + 1.15%), 1.00%, 11/16/2032 (aa)	EUR	1,500		1,463
Reg. S, 1.13%, 02/14/2025	EUR	3,200		3,439
Reg. S, (SONIA Interest Rate Benchmark + 0.91%), 1.13%, 12/07/2028 (aa)	GBP	1,900		2,125
Reg. S, 1.38%, 01/11/2028	EUR	1,000		1,038
(United States SOFR + 1.01%), 1.73%, 04/01/2027 (aa)		1,465		1,356
Reg. S, 2.00%, 09/20/2028	EUR	800		839
Reg. S, (EUR Swap Rate 5 Year + 1.35%), 2.00%, 03/22/2030 (aa)	EUR	3,000		3,202
Reg. S, (ICE LIBOR EUR 3 Month + 1.10%), 2.13%, 05/23/2026 (aa)	EUR	3,000		3,239
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.13%, 05/26/2031 (aa)	EUR	1,300		1,368
Reg. S, 3.00%, 02/18/2026	GBP	2,000		2,457
(United States SOFR + 1.64%), 3.87%, 03/28/2026 (aa)		200		196
Reg. S, (ICE LIBOR EUR 3 Month + 1.85%), 4.88%, 11/14/2027 (aa)	EUR	5,300		6,066
(United States SOFR + 1.56%), 6.08%, 09/11/2027 (aa)		510		521
ING-DiBa AG, (Germany), Reg. S, 0.01%, 10/07/2028	EUR	200		195
Intesa Sanpaolo SpA, (Italy),
Reg. S, 0.38%, 09/14/2026	EUR	100		103
Reg. S, 0.63%, 02/24/2026	EUR	1,000		1,037
Reg. S, 0.75%, 12/04/2024	EUR	500		537
Reg. S, 0.75%, 03/16/2028	EUR	4,373		4,342
Reg. S, 1.00%, 07/04/2024	EUR	1,500		1,631
Reg. S, 1.00%, 09/25/2025	EUR	100		106
Reg. S, 1.35%, 02/24/2031	EUR	1,500		1,356
Reg. S, 1.75%, 03/20/2028	EUR	4,000		4,121
Reg. S, 2.13%, 05/26/2025	EUR	4,375		4,732


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, 2.50%, 01/15/2030	GBP	3,000		3,230
Reg. S, 3.38%, 01/24/2025	EUR	100		110
Reg. S, 4.75%, 09/06/2027	EUR	1,000		1,144
Reg. S, 5.25%, 01/13/2030	EUR	1,458		1,724
7.00%, 11/21/2025 (e)		1,060		1,086
7.20%, 11/28/2033 (e)		225		240
(CMT Index 1 Year + 3.90%), 7.78%, 06/20/2054 (e) (aa)		650		676
7.80%, 11/28/2053 (e)		850		937
(CMT Index 1 Year + 4.40%), 8.25%, 11/21/2033 (e) (aa)		640		696
Series XR, 3.25%, 09/23/2024 (e)		2,900		2,847
Investec plc, (United Kingdom),
Reg. S, (UK Gilts 1 Year + 1.50%), 1.88%, 07/16/2028 (aa)	GBP	1,500		1,637
Reg. S, (UK Gilts 5 Year + 2.05%), 2.63%, 01/04/2032 (aa)	GBP	1,000		1,082
Investitionsbank Berlin, (Germany),
Reg. S, 2.75%, 10/04/2027	EUR	300		334
Series 208, 0.05%, 03/02/2035	EUR	100		82
Jyske Bank A/S, (Denmark), Reg. S, (EUR Swap Rate 1 Year + 2.10%), 4.63%, 04/11/2026 (aa)	EUR	6,400		7,128
KBC Bank NV, (Belgium), Reg. S, 3.75%, 09/28/2026	EUR	100		113
KBC Group NV, (Belgium),
Reg. S, 0.63%, 04/10/2025	EUR	8,000		8,524
Reg. S, (UK Gilts 1 Year + 0.92%), 1.25%, 09/21/2027 (aa)	GBP	5,000		5,795
Kookmin Bank, (South Korea), Reg. S, 0.05%, 10/19/2026	EUR	1,800		1,825
Kreditanstalt fuer Wiederaufbau, (Germany),
Reg. S, 0.00%, 02/18/2025	EUR	120		128
Reg. S, 0.00%, 06/15/2026	EUR	500		520
Reg. S, 0.00%, 03/31/2027	EUR	500		511
Reg. S, 0.00%, 04/30/2027	EUR	1,230		1,254
Reg. S, 0.00%, 12/15/2027	EUR	1,140		1,146
Reg. S, 0.00%, 09/15/2028	EUR	1,325		1,308
Reg. S, 0.00%, 11/09/2028	EUR	1,490		1,465
Reg. S, 0.00%, 06/15/2029	EUR	254		246
Reg. S, 0.00%, 09/17/2030	EUR	3,108		2,913
Reg. S, 0.00%, 01/10/2031	EUR	670		622
Reg. S, 0.01%, 05/05/2027	EUR	520		531
Reg. S, 0.05%, 09/29/2034	EUR	780		654
Reg. S, 0.13%, 01/09/2032	EUR	830		759
0.25%, 09/15/2025	EUR	1,100		1,166
0.38%, 07/18/2025		1,400		1,314
Reg. S, 0.38%, 04/23/2030	EUR	360		350
Reg. S, 0.38%, 05/20/2036	EUR	548		458
Reg. S, 0.50%, 09/28/2026	EUR	2,520		2,644
0.50%, 09/15/2027	EUR	500		515
0.63%, 01/07/2028	EUR	720		741
Reg. S, 0.88%, 09/15/2026	GBP	5,000		5,881


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Reg. S, 0.88%, 07/04/2039	EUR	400		335
Reg. S, 1.13%, 05/09/2033	EUR	550		535
Reg. S, 1.13%, 03/31/2037	EUR	700		635
Reg. S, 1.38%, 12/15/2025	GBP	425		514
Reg. S, 1.38%, 07/31/2035	EUR	202		194
2.00%, 05/02/2025		195		188
Reg. S, 2.00%, 11/15/2029	EUR	500		539
2.50%, 11/20/2024		750		734
Reg. S, 2.50%, 11/19/2025	EUR	2,450		2,700
Reg. S, 2.75%, 05/15/2030	EUR	525		591
Reg. S, 2.75%, 02/14/2033	EUR	700		786
Reg. S, 3.13%, 10/10/2028	EUR	1,000		1,140
Reg. S, 4.13%, 02/18/2026	GBP	10,000		12,737
4.63%, 08/07/2026		120		121
4.70%, 06/02/2037	CAD	100		80
Reg. S, 4.88%, 03/15/2037	GBP	825		1,141
5.75%, 06/07/2032	GBP	1,300		1,900
6.00%, 12/07/2028	GBP	2,500		3,507
Kutxabank SA, (Spain), Reg. S, 1.25%, 09/22/2025	EUR	100		107
La Banque Postale SA, (France),
Reg. S, 0.25%, 07/12/2026	EUR	200		205
Reg. S, 0.75%, 06/23/2031	EUR	100		91
Reg. S, (ICE LIBOR EUR 3 Month + 0.78%), 1.00%, 02/09/2028 (aa)	EUR	400		406
Reg. S, 1.38%, 04/24/2029	EUR	200		200
Reg. S, 4.00%, 05/03/2028	EUR	200		227
Reg. S, (EUR Swap Rate 5 Year + 2.85%), 5.50%, 03/05/2034 (aa)	EUR	100		115
Landesbank Baden-Wuerttemberg, (Germany),
Reg. S, 0.25%, 07/21/2028	EUR	200		189
Reg. S, 0.38%, 02/18/2027	EUR	200		200
Reg. S, 0.38%, 02/28/2028	EUR	200		194
Reg. S, 0.38%, 05/07/2029	EUR	100		92
Reg. S, 0.88%, 09/15/2025	EUR	100		107
Reg. S, 3.25%, 09/27/2027	EUR	50		56
Series 809, Reg. S, 0.38%, 07/29/2026	EUR	100		101
Series 829, Reg. S, 1.75%, 02/28/2028	EUR	100		107
Landesbank Hessen-Thueringen Girozentrale, (Germany),
Reg. S, 0.01%, 07/19/2027	EUR	100		101
Reg. S, 0.38%, 06/04/2029	EUR	100		94
Reg. S, 0.63%, 01/12/2027	EUR	100		104
Reg. S, 4.00%, 02/04/2030	EUR	100		114
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.75%), 4.50%, 09/15/2032 (aa)	EUR	100		105
Landeskreditbank Baden-Wuerttemberg Foerderbank, (Germany),
Reg. S, 0.38%, 02/25/2027	EUR	400		413
Reg. S, 0.63%, 12/15/2025	GBP	2,000		2,375
Landwirtschaftliche Rentenbank, (Germany),
Reg. S, 0.00%, 09/28/2026	EUR	535		552
Reg. S, 0.00%, 07/19/2028	EUR	1,700		1,683


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, 0.00%, 12/13/2028	EUR	720		706
Reg. S, 0.00%, 11/27/2029	EUR	120		115
Reg. S, 0.01%, 11/26/2040	EUR	200		136
Reg. S, 0.05%, 12/18/2029	EUR	180		173
Reg. S, 0.10%, 03/08/2027	EUR	200		205
Reg. S, 0.25%, 08/29/2025	EUR	300		318
Reg. S, 0.38%, 02/14/2028	EUR	1,140		1,158
Reg. S, 0.50%, 02/28/2029	EUR	400		401
Reg. S, 0.63%, 02/20/2030	EUR	140		139
Reg. S, 0.63%, 10/31/2036	EUR	75		64
Reg. S, 0.88%, 12/15/2026	GBP	2,000		2,337
Reg. S, 2.75%, 02/16/2032	EUR	200		224
Reg. S, 3.25%, 09/06/2030	EUR	300		347
Lloyds Bank plc, (United Kingdom),
Reg. S, 0.13%, 06/18/2026	EUR	100		103
Reg. S, 6.00%, 02/08/2029	GBP	100		139
Reg. S, 6.50%, 09/17/2040	GBP	300		456
Lloyds Banking Group plc, (United Kingdom),
(UK Gilts 5 Year + 1.60%), 1.99%, 12/15/2031 (aa)	GBP	1,900		2,173
Reg. S, (UK Gilts 5 Year + 2.40%), 2.71%, 12/03/2035 (aa)	GBP	600		615
Reg. S, (ICE LIBOR EUR 3 Month + 1.72%), 4.50%, 03/18/2030 (aa)	EUR	4,000		4,406
(CMT Index 1 Year + 1.48%), 5.99%, 08/07/2027 (aa)		2,150		2,189
Macquarie Group Ltd., (Australia),
Reg. S, 2.13%, 10/01/2031	GBP	1,500		1,580
Reg. S, 4.08%, 05/31/2029	GBP	2,000		2,452
Mediobanca Banca di Credito Finanziario SpA, (Italy),
Reg. S, 0.75%, 07/15/2027	EUR	425		427
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 1.00%, 07/17/2029 (aa)	EUR	10,000		9,844
Reg. S, 1.13%, 07/15/2025	EUR	975		1,036
Reg. S, 2.38%, 06/30/2027	EUR	100		108
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 4.88%, 09/13/2027 (aa)	EUR	8,050		9,135
Series 4, Reg. S, 1.38%, 11/10/2025	EUR	100		107
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 0.55%), 0.95%, 07/19/2025 (aa)		400		390
(CMT Index 1 Year + 0.75%), 1.54%, 07/20/2027 (aa)		2,000		1,828
Reg. S, (ICE LIBOR EUR 3 Month + 0.94%), 2.26%, 06/14/2025 (aa)	EUR	2,275		2,489
(CMT Index 1 Year + 0.83%), 2.34%, 01/19/2028 (aa)		640		593
Reg. S, 3.56%, 06/15/2032	EUR	10,000		11,273
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		1,000		996
(CMT Index 1 Year + 1.90%), 5.35%, 09/13/2028 (aa)		3,450		3,499


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Mizuho Financial Group, Inc., (Japan),
Reg. S, 0.12%, 09/06/2024	EUR	1,000		1,076
Reg. S, 0.21%, 10/07/2025	EUR	2,000		2,094
Reg. S, 2.10%, 04/08/2032	EUR	1,000		989
(CME Term SOFR 3 Month + 1.09%), 2.23%, 05/25/2026 (aa)		3,000		2,867
(CMT Index 1 Year + 0.90%), 2.65%, 05/22/2026 (aa)		1,000		962
Reg. S, 4.42%, 05/20/2033	EUR	20,000		23,215
(CMT Index 1 Year + 2.05%), 5.41%, 09/13/2028 (aa)		1,400		1,420
Reg. S, 5.63%, 06/13/2028	GBP	3,150		4,163
(CMT Index 1 Year + 1.90%), 5.75%, 07/06/2034 (aa)		780		809
Morgan Stanley,
(ICE LIBOR EUR 3 Month + 0.70%), 0.41%, 10/29/2027 (aa)	EUR	4,350		4,408
(United States SOFR + 0.56%), 1.16%, 10/21/2025 (aa)		1,240		1,194
(United States SOFR + 0.86%), 1.51%, 07/20/2027 (aa)		779		712
(United States SOFR + 0.88%), 1.59%, 05/04/2027 (aa)		90		83
(ICE LIBOR EUR 3 Month + 0.90%), 2.10%, 05/08/2026 (aa)	EUR	900		971
(United States SOFR + 1.18%), 2.24%, 07/21/2032 (aa)		110		90
(United States SOFR + 1.00%), 2.48%, 01/21/2028 (aa)		2		2
2.63%, 03/09/2027	GBP	1,425		1,716
(United States SOFR + 1.14%), 2.70%, 01/22/2031 (aa)		1,000		875
(United States SOFR + 1.43%), 2.80%, 01/25/2052 (aa)		45		30
(ICE LIBOR EUR 3 Month + 1.25%), 2.95%, 05/07/2032 (aa)	EUR	2,200		2,297
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		120		119
(United States SOFR + 3.12%), 3.62%, 04/01/2031 (aa)		8		7
(CME Term SOFR 3 Month + 1.40%), 3.77%, 01/24/2029 (aa)		6		6
3.95%, 04/23/2027		117		114
(United States SOFR + 1.61%), 4.21%, 04/20/2028 (aa)		3		3
(CME Term SOFR 3 Month + 1.89%), 4.43%, 01/23/2030 (aa)		104		101
(CME Term SOFR 3 Month + 1.69%), 4.46%, 04/22/2039 (aa)		10		9
(United States SOFR + 1.67%), 4.68%, 07/17/2026 (aa)		918		909
(United States SOFR + 1.73%), 5.12%, 02/01/2029 (aa)		78		78
(United States SOFR + 1.59%), 5.16%, 04/20/2029 (aa)		110		111


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
(United States SOFR + 1.87%), 5.25%, 04/21/2034 (aa)		385		386
(United States SOFR + 1.88%), 5.42%, 07/21/2034 (aa)		795		808
(United States SOFR + 1.63%), 5.45%, 07/20/2029 (aa)		668		681
(SONIA Interest Rate Benchmark + 2.25%), 5.79%, 11/18/2033 (aa)	GBP	4,300		5,829
(CMT Index 5 Year + 2.43%), 5.95%, 01/19/2038 (aa)		135		137
(United States SOFR + 2.24%), 6.30%, 10/18/2028 (aa)		1,020		1,069
(United States SOFR + 2.56%), 6.34%, 10/18/2033 (aa)		300		324
Muenchener Hypothekenbank eG, (Germany),
Reg. S, 0.01%, 11/02/2040	EUR	50		33
Reg. S, 0.13%, 02/01/2029	EUR	50		49
Reg. S, 1.00%, 04/18/2039	EUR	50		42
Reg. S, 1.50%, 06/25/2024	EUR	100		109
Reg. S, 2.50%, 07/04/2028	EUR	50		55
National Australia Bank Ltd., (Australia),
Reg. S, 0.25%, 05/20/2024	EUR	1,000		1,088
Reg. S, 0.63%, 09/18/2024	EUR	1,000		1,079
Reg. S, 1.25%, 05/18/2026	EUR	1,000		1,064
Reg. S, (UK Gilts 5 Year + 1.40%), 1.70%, 09/15/2031 (aa)	GBP	1,425		1,618
Reg. S, 2.13%, 05/24/2028	EUR	500		533
Reg. S, 2.35%, 08/30/2029	EUR	100		107
National Bank of Canada, (Canada),
Reg. S, 0.75%, 03/13/2025	EUR	100		107
5.25%, 01/17/2025		250		250
Nationale-Nederlanden Bank NV (The), (Netherlands), Reg. S, 0.01%, 07/08/2030	EUR	100		92
NatWest Group plc, (United Kingdom),
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 0.67%, 09/14/2029 (aa)	EUR	2,000		1,918
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.04%, 09/14/2032 (aa)	EUR	2,375		2,315
Reg. S, (ICE LIBOR EUR 3 Month + 1.74%), 2.00%, 03/04/2025 (aa)	EUR	100		110
Reg. S, (UK Gilts 5 Year + 1.75%), 2.11%, 11/28/2031 (aa)	GBP	600		681
Reg. S, (GBP Swap Rate 1 Year + 1.49%), 2.88%, 09/19/2026 (aa)	GBP	2,000		2,441
Reg. S, (UK Gilts 1 Year + 2.10%), 3.62%, 03/29/2029 (aa)	GBP	4,000		4,775
Reg. S, (ICE LIBOR EUR 3 Month + 1.83%), 4.77%, 02/16/2029 (aa)	EUR	2,000		2,294
NatWest Markets plc, (United Kingdom),
Reg. S, 0.13%, 06/18/2026	EUR	1,000		1,023
Reg. S, 2.00%, 08/27/2025	EUR	1,000		1,076
NIBC Bank NV, (Netherlands), Reg. S, 0.63%, 06/01/2026	EUR	100		105


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
NORD / LB Luxembourg SA Covered Bond Bank, (Luxembourg), Reg. S, 0.01%, 06/10/2027	EUR	100		100
Norddeutsche Landesbank-Girozentrale, (Germany),
Reg. S, 0.01%, 09/23/2026	EUR	100		103
Reg. S, 0.25%, 10/28/2026	EUR	20		21
Reg. S, 0.50%, 06/29/2026	EUR	50		52
Reg. S, 3.13%, 02/20/2026	EUR	50		55
Nordea Bank Abp, (Finland),
Reg. S, 4.13%, 05/05/2028	EUR	6,025		6,866
Reg. S, (EUR Swap Rate 5 Year + 1.85%), 4.88%, 02/23/2034 (aa)	EUR	2,825		3,241
Nordea Hypotek AB, (Sweden),
Series 5535, Reg. S, 1.00%, 09/17/2025	SEK	1,900		182
Series 5536, Reg. S, 0.50%, 09/16/2026	SEK	1,200		111
Series 5537, Reg. S, 1.00%, 06/16/2027	SEK	2,000		185
Nordea Kiinnitysluottopankki OYJ, (Finland),
Reg. S, 0.13%, 06/18/2027	EUR	100		101
Reg. S, 2.50%, 09/14/2032	EUR	100		108
NRW Bank, (Germany),
Reg. S, 0.00%, 07/28/2031	EUR	138		126
Reg. S, 0.10%, 07/09/2035	EUR	300		244
Reg. S, 0.25%, 03/10/2025	EUR	120		128
Reg. S, 0.38%, 12/16/2024	GBP	2,000		2,440
Reg. S, 0.38%, 05/16/2029	EUR	550		543
Reg. S, 0.50%, 05/26/2025	EUR	320		341
Reg. S, 0.50%, 06/17/2041	EUR	100		73
Reg. S, 0.75%, 06/30/2028	EUR	260		266
1.20%, 03/28/2039	EUR	100		86
1.25%, 05/13/2049	EUR	87		65
2.75%, 02/21/2029	EUR	500		559
Reg. S, 3.00%, 05/31/2030	EUR	173		196
Nykredit Realkredit A/S, (Denmark),
Reg. S, (EUR Swap Rate 5 Year + 1.18%), 0.88%, 07/28/2031 (aa)	EUR	5,000		5,032
Series 13G, Reg. S, 1.00%, 04/01/2026	DKK	300		43
Series 13H, Reg. S, 1.00%, 07/01/2026	DKK	600		85
Series 13H, Reg. S, 1.00%, 01/01/2027	DKK	1,000		141
Series 13H, Reg. S, 1.00%, 07/01/2027	DKK	800		112
Series 13H, Reg. S, 1.00%, 01/01/2028	DKK	200		28
Series 13H, Reg. S, 2.00%, 01/01/2025	DKK	300		44
Series 13H, Reg. S, 2.00%, 01/01/2026	DKK	1,000		146
Series SDO, Reg. S, 1.00%, 01/01/2029	DKK	300		41
Oesterreichische Kontrollbank AG, (Austria),
Reg. S, 0.00%, 10/08/2026	EUR	150		155
Reg. S, 0.25%, 09/26/2024	EUR	300		323
OP Corporate Bank plc, (Finland), Reg. S, 4.13%, 04/18/2027	EUR	3,000		3,405


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
OP Mortgage Bank, (Finland),
Reg. S, 0.63%, 02/15/2029	EUR	100		99
Reg. S, 1.00%, 10/05/2027	EUR	100		104
Reg. S, 2.75%, 06/22/2026	EUR	100		110
Pfandbriefbank Schweizerischer Hypothekarinstitute AG, (Switzerland),
Reg. S, 0.00%, 02/26/2030	CHF	800		873
Series 678, Reg. S, 0.00%, 08/26/2049	CHF	40		34
Series 682, Reg. S, 0.00%, 04/06/2027	CHF	100		114
Series 683, Reg. S, 0.00%, 02/25/2028	CHF	200		225
Series 684, Reg. S, 0.00%, 05/10/2045	CHF	125		112
Series 695, Reg. S, 0.00%, 10/26/2029	CHF	200		220
Series 697, Reg. S, 0.00%, 05/20/2041	CHF	200		186
Series 706, Reg. S, 0.13%, 08/19/2031	CHF	200		216
Series 743, Reg. S, 1.75%, 07/09/2038	CHF	50		62
Pfandbriefzentrale der schweizerischen Kantonalbanken AG, (Switzerland),
Series 483, Reg. S, 0.00%, 01/27/2027	CHF	600		684
Series 517, Reg. S, 0.00%, 04/02/2031	CHF	100		107
Series 524, Reg. S, 0.00%, 06/21/2028	CHF	200		224
Series 528, Reg. S, 0.00%, 03/15/2030	CHF	50		55
Series 530, Reg. S, 0.00%, 03/18/2033	CHF	220		229
Series 531, Reg. S, 0.00%, 02/15/2036	CHF	205		205
Series 534, Reg. S, 0.00%, 03/13/2028	CHF	50		56
Series 538, Reg. S, 0.00%, 07/25/2031	CHF	80		86
Series 576, Reg. S, 1.85%, 07/19/2038	CHF	50		63
PNC Financial Services Group, Inc. (The),
(United States SOFR + 1.84%), 5.58%, 06/12/2029 (aa)		505		516
(SOFR Compounded Index + 1.09%), 5.67%, 10/28/2025 (aa)		580		580
(United States SOFR + 1.32%), 5.81%, 06/12/2026 (aa)		180		181
(SOFR Compounded Index + 1.73%), 6.62%, 10/20/2027 (aa)		80		83
(United States SOFR + 2.28%), 6.88%, 10/20/2034 (aa)		760		845
Raiffeisen Bank International AG, (Austria),
Reg. S, 0.25%, 01/22/2025	EUR	3,600		3,819
Reg. S, 3.88%, 03/16/2026	EUR	100		112
Reg. S, (ICE LIBOR EUR 3 Month + 1.95%), 4.75%, 01/26/2027 (aa)	EUR	700		780
Raiffeisenlandesbank Niederoesterreich-Wien AG, (Austria), Reg. S, 0.63%, 08/28/2026	EUR	200		208
Raiffeisenlandesbank Oberoesterreich AG, (Austria), Reg. S, 1.25%, 04/26/2027	EUR	100		105
Raiffeisen-Landesbank Steiermark AG, (Austria), Reg. S, 2.38%, 06/14/2028	EUR	100		108
Raiffeisen-Landesbank Tirol AG, (Austria), Reg. S, 3.00%, 01/24/2028	EUR	100		111


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Rheinland-Pfalz Bank, (Germany), SUB, 6.88%, 02/23/2028 (e)		200		216
Royal Bank of Canada, (Canada),
Reg. S, 0.01%, 10/05/2028	EUR	100		97
Reg. S, 0.13%, 04/26/2027	EUR	700		706
Reg. S, 0.63%, 09/10/2025	EUR	100		106
1.15%, 06/10/2025		100		95
Reg. S, 2.38%, 09/13/2027	EUR	150		163
3.63%, 05/04/2027		90		87
5.20%, 08/01/2028		496		506
6.00%, 11/01/2027		30		31
Santander Consumer Bank A/S, (Norway), Reg. S, 0.13%, 02/25/2025	EUR	5,200		5,507
Santander Holdings USA, Inc., 3.45%, 06/02/2025		45		44
(United States SOFR + 2.36%), 6.50%, 03/09/2029 (aa)		190		196
Santander UK Group Holdings plc, (United Kingdom),
(United States SOFR + 0.79%), 1.09%, 03/15/2025 (aa)		600		593
(United States SOFR + 1.22%), 2.47%, 01/11/2028 (aa)		480		438
(United States SOFR + 2.75%), 6.83%, 11/21/2026 (aa)		2,200		2,241
Santander UK plc, (United Kingdom), Reg. S, 0.05%, 01/12/2027	EUR	100		101
Skandinaviska Enskilda Banken AB, (Sweden),
Reg. S, 0.05%, 07/01/2024	EUR	1,475		1,596
Reg. S, 3.25%, 11/24/2025	EUR	6,825		7,537
Reg. S, 3.25%, 05/04/2028	EUR	100		113
Series 581, Reg. S, 0.50%, 12/16/2026	SEK	2,000		184
Series 601, Reg. S, 3.00%, 12/06/2027	SEK	2,000		198
Societe Generale SA, (France),
Reg. S, 0.13%, 02/24/2026	EUR	1,000		1,034
(EUR Swap Rate 5 Year + 1.55%), 1.00%, 11/24/2030 (aa)	EUR	1,000		1,035
Reg. S, 1.13%, 01/23/2025	EUR	200		214
Reg. S, (ICE LIBOR EUR 3 Month + 1.50%), 1.13%, 04/21/2026 (aa)	EUR	1,700		1,811
Reg. S, 1.25%, 12/07/2027	GBP	3,000		3,318
Reg. S, 1.25%, 06/12/2030	EUR	2,000		1,899
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 1.50%, 05/30/2025 (aa)	EUR	500		546
(CMT Index 1 Year + 1.05%), 2.23%, 01/21/2026 (e) (aa)		2,850		2,738
Reg. S, 2.63%, 05/30/2029	EUR	1,000		1,073
(CMT Index 1 Year + 1.30%), 2.80%, 01/19/2028 (e) (aa)		2,595		2,393
Reg. S, 4.00%, 11/16/2027	EUR	3,000		3,389
Reg. S, (ICE LIBOR EUR 3 Month + 1.80%), 4.25%, 12/06/2030 (aa)	EUR	1,500		1,682
Reg. S, 6.25%, 06/22/2033	GBP	2,000		2,815


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
SpareBank 1 Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 09/22/2027	EUR	5,000		4,971
Reg. S, 0.13%, 05/14/2026	EUR	100		104
Reg. S, 0.13%, 05/12/2031	EUR	100		90
Reg. S, 1.00%, 01/30/2029	EUR	100		101
SpareBank 1 Oestlandet, (Norway),
Reg. S, 0.25%, 09/30/2024	EUR	600		644
Reg. S, 1.75%, 04/27/2027	EUR	1,000		1,050
SpareBank 1 SR-Bank ASA, (Norway), Reg. S, 0.63%, 03/25/2024	EUR	700		767
Sparebanken Soer Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 09/25/2028	EUR	5,000		4,838
Reg. S, 0.50%, 02/06/2026	EUR	100		105
SR-Boligkreditt A/S, (Norway), Reg. S, 0.01%, 03/10/2031	EUR	100		90
Stadshypotek AB, (Sweden),
Reg. S, 0.01%, 11/24/2028	EUR	100		96
Reg. S, 0.50%, 07/11/2025	EUR	100		106
Reg. S, 3.63%, 06/20/2028	SEK	2,000		205
Series 1590, Reg. S, 1.00%, 09/03/2025	SEK	2,000		191
Series 1591, Reg. S, 0.50%, 06/01/2026	SEK	2,000		187
Series 1592, Reg. S, 1.00%, 03/01/2027	SEK	2,000		187
Series 1594, Reg. S, 2.00%, 09/01/2028	SEK	2,000		190
Standard Chartered plc, (United Kingdom), (CMT Index 1 Year + 1.00%), 1.46%, 01/14/2027 (e) (aa)		1,200		1,099
Sumitomo Mitsui Financial Group, Inc., (Japan),
Reg. S, 1.55%, 06/15/2026	EUR	6,000		6,348
5.46%, 01/13/2026		200		202
5.52%, 01/13/2028		200		205
5.71%, 01/13/2030		200		208
5.77%, 01/13/2033		200		212
5.78%, 07/13/2033		720		764
Sumitomo Mitsui Trust Bank Ltd., (Japan), Reg. S, 0.01%, 10/15/2027	EUR	2,000		1,965
Svenska Handelsbanken AB, (Sweden),
Reg. S, 0.05%, 09/06/2028	EUR	1,000		960
Reg. S, 0.13%, 11/03/2026	EUR	3,200		3,246
Reg. S, 0.50%, 02/18/2030	EUR	1,875		1,752
Reg. S, 1.00%, 04/15/2025	EUR	2,000		2,142
Reg. S, (EUR Swap Rate 5 Year + 1.80%), 3.25%, 06/01/2033 (aa)	EUR	1,500		1,614
Reg. S, 3.75%, 11/01/2027	EUR	1,200		1,358
Sveriges Sakerstallda Obligationer AB, (Sweden),
Reg. S, 0.01%, 03/14/2030	EUR	100		93
Reg. S, 0.63%, 10/30/2025	EUR	100		106
Series 146, Reg. S, 0.50%, 06/11/2025	SEK	2,000		190
Series 147, Reg. S, 2.00%, 06/17/2026	SEK	1,000		97


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Series 148, Reg. S, 0.25%, 06/09/2027	SEK	2,000		180
Swedbank AB, (Sweden),
Reg. S, (EUR Swap Rate 1 Year + 0.57%), 0.30%, 05/20/2027 (aa)	EUR	1,500		1,529
Reg. S, 0.75%, 05/05/2025	EUR	1,300		1,383
Reg. S, 1.30%, 02/17/2027	EUR	1,000		1,028
Reg. S, (UK Gilts 1 Year + 1.00%), 1.38%, 12/08/2027 (aa)	GBP	1,500		1,726
Reg. S, 2.10%, 05/25/2027	EUR	1,000		1,062
Reg. S, (EUR Swap Rate 5 Year + 2.15%), 3.63%, 08/23/2032 (aa)	EUR	1,500		1,618
Reg. S, 4.38%, 09/05/2030	EUR	10,000		11,437
Reg. S, (UK Gilts 5 Year + 3.80%), 7.27%, 11/15/2032 (aa)	GBP	6,000		7,890
Toronto-Dominion Bank (The), (Canada),
Reg. S, 0.86%, 03/24/2027	EUR	1,800		1,863
1.25%, 09/10/2026		20		18
Reg. S, 1.71%, 07/28/2025	EUR	100		108
Reg. S, 2.88%, 04/05/2027	GBP	5,000		6,042
Reg. S, 3.72%, 03/13/2030	EUR	100		115
Reg. S, 3.77%, 09/08/2026	EUR	100		113
4.69%, 09/15/2027		515		514
5.26%, 12/11/2026		1,775		1,811
Truist Financial Corp., 1.20%, 08/05/2025		460		432
3.88%, 03/19/2029		1,400		1,311
(United States SOFR + 2.36%), 5.87%, 06/08/2034 (aa)		370		378
(United States SOFR + 2.05%), 6.05%, 06/08/2027 (aa)		220		224
(United States SOFR + 2.45%), 7.16%, 10/30/2029 (aa)		620		670
UBS AG, (Switzerland),
Reg. S, 0.50%, 03/31/2031	EUR	9,000		8,118
5.65%, 09/11/2028		589		612
UBS Group AG, (Switzerland),
Reg. S, 0.25%, 02/24/2028	EUR	1,000		970
Reg. S, (EUR Swap Rate 1 Year + 0.77%), 0.25%, 11/05/2028 (aa)	EUR	1,200		1,165
Reg. S, 0.63%, 01/18/2033	EUR	10,584		8,811
Reg. S, 0.63%, 02/24/2033	EUR	1,000		846
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.80%), 1.00%, 03/21/2025 (aa)	EUR	3,000		3,288
Reg. S, (EUR Swap Rate 1 Year + 0.75%), 1.25%, 04/17/2025 (aa)	EUR	200		219
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.75%), 1.25%, 07/17/2025 (aa)	EUR	1,400		1,519
Reg. S, 1.25%, 09/01/2026	EUR	1,000		1,049
Reg. S, (EUR Swap Rate 1 Year + 1.60%), 2.13%, 10/13/2026 (aa)	EUR	700		751
(CMT Index 1 Year + 1.10%), 2.75%, 02/11/2033 (e) (aa)		1,000		822
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 2.75%, 06/15/2027 (aa)	EUR	5,000		5,406


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, (EUR Swap Rate 1 Year + 1.95%), 2.88%, 04/02/2032 (aa)	EUR	2,600		2,680
(United States SOFR + 1.73%), 3.09%, 05/14/2032 (e) (aa)		755		644
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.35%), 3.13%, 06/15/2030 (aa)	EUR	1,500		1,610
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.55%), 4.38%, 01/11/2031 (aa)	EUR	2,000		2,277
UniCredit Bank Austria AG, (Austria), Reg. S, 0.05%, 09/21/2035	EUR	100		78
UniCredit Bank GmbH, (Germany),
Reg. S, 0.01%, 09/15/2028	EUR	50		49
Reg. S, 0.01%, 03/10/2031	EUR	125		114
Reg. S, 0.85%, 05/22/2034	EUR	50		45
Reg. S, 0.88%, 01/11/2029	EUR	100		101
UniCredit SpA, (Italy),
Reg. S, 0.33%, 01/19/2026	EUR	1,000		1,039
Reg. S, 0.38%, 10/31/2026	EUR	100		103
Reg. S, 0.50%, 04/09/2025	EUR	1,000		1,061
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 0.80%, 07/05/2029 (aa)	EUR	1,000		981
Reg. S, 0.85%, 01/19/2031	EUR	1,000		909
Reg. S, (ICE LIBOR EUR 3 Month + 0.85%), 0.93%, 01/18/2028 (aa)	EUR	1,000		1,024
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 1.20%, 01/20/2026 (aa)	EUR	3,275		3,508
Reg. S, (ICE LIBOR EUR 3 Month + 1.55%), 1.25%, 06/25/2025 (aa)	EUR	1,000		1,087
Reg. S, (ICE LIBOR EUR 3 Month + 1.90%), 1.63%, 07/03/2025 (aa)	EUR	500		544
Reg. S, 1.63%, 01/18/2032	EUR	1,000		944
Reg. S, 1.80%, 01/20/2030	EUR	1,000		990
Reg. S, 2.13%, 10/24/2026	EUR	1,000		1,075
Reg. S, (ICE LIBOR EUR 3 Month + 2.55%), 2.20%, 07/22/2027 (aa)	EUR	1,000		1,066
(CMT Index 1 Year + 2.30%), 2.57%, 09/22/2026 (e) (aa)		3,000		2,821
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 4.45%, 02/16/2029 (aa)	EUR	9,350		10,551
Reg. S, (ICE LIBOR EUR 3 Month + 1.90%), 4.80%, 01/17/2029 (aa)	EUR	5,000		5,769
Reg. S, (ICE LIBOR EUR 3 Month + 2.85%), 5.85%, 11/15/2027 (aa)	EUR	6,500		7,596
United Overseas Bank Ltd., (Singapore), Reg. S, 0.01%, 12/01/2027	EUR	100		99
US Bancorp,
(CMT Index 5 Year + 2.54%), 3.70%, 01/15/2027 (x) (aa)		2,300		1,806
(United States SOFR + 1.66%), 4.55%, 07/22/2028 (aa)		20		20
(United States SOFR + 1.23%), 4.65%, 02/01/2029 (aa)		45		44
(United States SOFR + 1.43%), 5.73%, 10/21/2026 (aa)		280		282


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
(United States SOFR + 2.26%), 5.84%, 06/12/2034 (aa)		725		749
Valiant Bank AG, (Switzerland), Reg. S, 0.00%, 07/31/2029	CHF	50		54
Virgin Money UK plc, (United Kingdom),
Reg. S, (SONIA Interest Rate Benchmark + 2.57%), 3.13%, 06/22/2025 (aa)	GBP	1,000		1,248
Reg. S, (UK Gilts 1 Year + 2.80%), 4.00%, 09/25/2026 (aa)	GBP	200		245
Reg. S, (UK Gilts 5 Year + 5.25%), 5.13%, 12/11/2030 (aa)	GBP	1,000		1,221
Vseobecna Uverova Banka AS, (Slovakia), Reg. S, 0.01%, 06/23/2025	EUR	1,700		1,782
Wells Fargo & Co.,
Reg. S, 1.00%, 02/02/2027	EUR	1,000		1,024
Reg. S, 1.38%, 10/26/2026	EUR	1,000		1,042
Reg. S, 2.00%, 04/27/2026	EUR	1,000		1,066
Reg. S, 2.13%, 09/24/2031	GBP	1,000		1,043
Reg. S, 2.50%, 05/02/2029	GBP	1,500		1,712
(CME Term SOFR 3 Month + 1.43%), 2.88%, 10/30/2030 (aa)		6		5
(United States SOFR + 2.53%), 3.07%, 04/30/2041 (aa)		2,440		1,850
(CME Term SOFR 3 Month + 1.43%), 3.20%, 06/17/2027 (aa)		1,590		1,520
Reg. S, (SONIA Interest Rate Benchmark + 1.28%), 3.47%, 04/26/2028 (aa)	GBP	1,000		1,216
Reg. S, 3.50%, 09/12/2029	GBP	1,500		1,798
(United States SOFR + 1.51%), 3.53%, 03/24/2028 (aa)		377		360
(CME Term SOFR 3 Month + 1.57%), 3.58%, 05/22/2028 (aa)		3		3
3.90%, 05/01/2045		20		17
(United States SOFR + 1.32%), 3.91%, 04/25/2026 (aa)		1,272		1,247
(United States SOFR + 1.56%), 4.54%, 08/15/2026 (aa)		58		57
(United States SOFR + 2.13%), 4.61%, 04/25/2053 (aa)		820		741
4.63%, 11/02/2035	GBP	1,500		1,862
4.75%, 12/07/2046		95		84
(United States SOFR + 1.98%), 4.81%, 07/25/2028 (aa)		1,366		1,357
Reg. S, 4.88%, 11/29/2035	GBP	1,000		1,199
(United States SOFR + 2.02%), 5.39%, 04/24/2034 (aa)		940		946
(United States SOFR + 1.99%), 5.56%, 07/25/2034 (aa)		2,745		2,801
(United States SOFR + 1.74%), 5.57%, 07/25/2029 (aa)		1,590		1,625
5.61%, 01/15/2044		24		24
(United States SOFR + 1.79%), 6.30%, 10/23/2029 (aa)		124		131
(United States SOFR + 2.06%), 6.49%, 10/23/2034 (aa)		2,040		2,224


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Wells Fargo Bank NA, 5.25%, 12/11/2026		2,050		2,076
Westpac Banking Corp., (Australia),
Reg. S, 0.01%, 09/22/2028	EUR	100		96
Reg. S, 0.88%, 04/17/2027	EUR	1,000		1,024
Reg. S, 1.08%, 04/05/2027	EUR	100		104
2.96%, 11/16/2040		290		201
Westpac Securities NZ Ltd., (New Zealand),
Reg. S, 0.43%, 12/14/2026	EUR	2,500		2,534
Reg. S, 3.75%, 04/20/2028	EUR	100		114
Wirtschafts- und Infrastrukturbank Hessen, (Germany), 0.88%, 06/14/2028	EUR	100		103
Zuercher Kantonalbank, (Switzerland), Series 150, Reg. S, 0.10%, 03/31/2031	CHF	240		259


				1,306,041

Diversified Financial Services — 0.9%
Aareal Bank AG, (Germany),
Reg. S, 3.13%, 02/13/2026	EUR	100		111
Reg. S, 4.50%, 07/25/2025	EUR	2,300		2,544
Series 236, Reg. S, 0.01%, 02/01/2028	EUR	100		99
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 2.45%, 10/29/2026		350		324
4.63%, 10/15/2027		190		186
Affordable Housing Finance plc, (United Kingdom), Reg. S, 2.89%, 08/11/2043	GBP	100		102
Ally Financial, Inc., (United States SOFR + 2.82%), 6.85%, 01/03/2030 (aa)		600		617
American Express Co., 2.25%, 03/04/2025		16		16
3.95%, 08/01/2025		370		364
4.90%, 02/13/2026		120		121
(United States SOFR + 1.00%), 4.99%, 05/01/2026 (aa)		250		249
(United States SOFR + 1.84%), 5.04%, 05/01/2034 (aa)		550		550
(United States SOFR + 1.28%), 5.28%, 07/27/2029 (aa)		3,500		3,576
(United States SOFR + 1.93%), 5.63%, 07/28/2034 (aa)		145		150
Ameriprise Financial, Inc., 5.15%, 05/15/2033		504		520
Apollo Global Management, Inc., 6.38%, 11/15/2033		158		170
Ares Management Corp., 6.38%, 11/10/2028		395		415
Arkea Home Loans SFH SA, (France), Reg. S, 3.25%, 08/01/2033	EUR	100		113
Artesian Finance II plc, (United Kingdom), 6.00%, 09/30/2033	GBP	30		41
Aspire Defence Finance plc, (United Kingdom), Series B, 4.67%, 03/31/2040	GBP	40		50
AXA Bank Europe SCF, (France), Reg. S, 0.50%, 04/18/2025	EUR	100		106


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Diversified Financial Services — continued
AXA Home Loan SFH SA, (France), Reg. S, 0.01%, 10/16/2029	EUR	100		94
AyT Cedulas Cajas X Fondo de Titulizacion de Activos, (Spain), Series X, 3.75%, 06/30/2025	EUR	100		111

BNP Paribas Home Loan SFH SA, (France),
Reg. S, 3.00%, 05/25/2028	EUR	100		112
Reg. S, 3.00%, 01/31/2030	EUR	100		112
BPCE SFH SA, (France),
Reg. S, 0.01%, 11/08/2026	EUR	100		102
Reg. S, 0.01%, 01/21/2027	EUR	100		102
Reg. S, 0.01%, 01/29/2036	EUR	100		78
Reg. S, 0.13%, 12/03/2030	EUR	100		92
Reg. S, 0.63%, 09/22/2027	EUR	100		102
Reg. S, 0.75%, 09/02/2025	EUR	100		106
Reg. S, 1.13%, 04/12/2030	EUR	100		100
Reg. S, 1.75%, 05/27/2032	EUR	100		101
Caisse de Refinancement de l’Habitat SA, (France),
Reg. S, 0.01%, 10/08/2029	EUR	100		94
Reg. S, 3.38%, 06/28/2032	EUR	100		115
Cantor Fitzgerald LP, 4.50%, 04/14/2027 (e)		2,055		1,974
Capital One Financial Corp.,
0.80%, 06/12/2024	EUR	825		895
(United States SOFR + 2.06%), 4.93%, 05/10/2028 (aa)		349		343
(United States SOFR + 2.64%), 6.31%, 06/08/2029 (aa)		435		447
(United States SOFR + 3.07%), 7.62%, 10/30/2031 (aa)		730		804
Cboe Global Markets, Inc.,
1.63%, 12/15/2030		424		350
3.65%, 01/12/2027		505		490
Cedulas TDA 6 Fondo de Titulizacion de Activos, (Spain), Series A6, 3.88%, 05/23/2025	EUR	100		111
Charles Schwab Corp. (The),
1.15%, 05/13/2026		390		357
(United States SOFR + 1.88%), 6.20%, 11/17/2029 (aa)		365		383
CI Financial Corp., (Canada), 4.10%, 06/15/2051		305		181
CME Group, Inc., 2.65%, 03/15/2032		203		181

Credit Agricole Home Loan SFH SA, (France),
Reg. S, 0.01%, 04/12/2028	EUR	4,200		4,130
Reg. S, 0.01%, 11/03/2031	EUR	100		89
Reg. S, 0.88%, 08/11/2028	EUR	100		102
Reg. S, 0.88%, 05/06/2034	EUR	100		90
Reg. S, 2.13%, 01/07/2030	EUR	100		106
Credit Agricole Public Sector SCF SA, (France), Reg. S, 0.88%, 08/02/2027	EUR	100		103


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Diversified Financial Services — continued
Credit Mutuel Home Loan SFH SA, (France),
Reg. S, 0.01%, 07/20/2028	EUR	5,000		4,883
Reg. S, 0.75%, 09/15/2027	EUR	100		103
Reg. S, 0.88%, 03/04/2032	EUR	100		94
Reg. S, 1.00%, 01/30/2029	EUR	100		101
Reg. S, 2.38%, 02/08/2028	EUR	100		109
Discover Financial Services, (SOFR Compounded Index + 3.37%), 7.96%, 11/02/2034 (aa)		110		123
IG Group Holdings plc, (United Kingdom), Reg. S, 3.13%, 11/18/2028	GBP	4,000		4,441
Intercontinental Exchange, Inc.,
3.65%, 05/23/2025		20		20
5.20%, 06/15/2062		140		143
Jefferies Financial Group, Inc.,
2.63%, 10/15/2031		1,250		1,037
2.75%, 10/15/2032		1,420		1,162
5.88%, 07/21/2028		1,350		1,386
Jyske Realkredit A/S, (Denmark),
Reg. S, 0.50%, 10/01/2026	EUR	100		104
Series 32IE, Reg. S, 1.00%, 04/01/2025	DKK	400		58
Series CCE, Reg. S, 1.00%, 10/01/2024	DKK	100		14
La Banque Postale Home Loan SFH SA, (France),
Reg. S, 1.00%, 10/04/2028	EUR	100		102
Reg. S, 3.00%, 01/31/2031	EUR	100		112
Lansforsakringar Hypotek AB, (Sweden),
Reg. S, 1.38%, 05/31/2027	EUR	100		105
Series 519, Reg. S, 1.50%, 09/16/2026	SEK	900		86
Series 520, Reg. S, 1.00%, 09/15/2027	SEK	1,000		93
Series 521, Reg. S, 0.50%, 09/20/2028	SEK	700		62
LeasePlan Corp. NV, (Netherlands), Reg. S, 2.13%, 05/06/2025	EUR	3,000		3,249
London Stock Exchange Group plc, (United Kingdom),
Reg. S, 1.63%, 04/06/2030	GBP	2,000		2,203
Reg. S, 1.75%, 12/06/2027	EUR	800		845
LPL Holdings, Inc., 6.75%, 11/17/2028		1,117		1,191
Lseg Netherlands BV, (Netherlands),
Reg. S, 0.00%, 04/06/2025	EUR	1,500		1,587
Reg. S, 0.75%, 04/06/2033	EUR	1,000		887
Mastercard, Inc.,
1.00%, 02/22/2029	EUR	6,200		6,286
2.10%, 12/01/2027	EUR	8,225		8,831
2.95%, 06/01/2029		710		667
3.30%, 03/26/2027		80		78
3.35%, 03/26/2030		244		233
3.85%, 03/26/2050		160		140
4.88%, 03/09/2028		190		196
Nasdaq, Inc.,
1.75%, 03/28/2029	EUR	2,300		2,355
5.35%, 06/28/2028		100		103


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Diversified Financial Services — continued
Nomura Holdings, Inc., (Japan),
1.85%, 07/16/2025		1,955		1,851
2.17%, 07/14/2028		1,500		1,318
2.61%, 07/14/2031		730		608
3.00%, 01/22/2032		320		270
5.10%, 07/03/2025		2,700		2,682
6.07%, 07/12/2028		1,625		1,679
Nordea Kredit Realkreditaktieselskab, (Denmark),
Reg. S, 1.00%, 10/01/2024 (e)	DKK	300		44
Reg. S, 1.00%, 04/01/2026 (e)	DKK	250		35
1.00%, 10/01/2026	DKK	500		71
Reg. S, 1.00%, 10/01/2027 (e)	DKK	200		28
Series CC2, Reg. S, 1.00%, 04/01/2025 (e)	DKK	200		29
Series CC2, Reg. S, 1.00%, 04/01/2027 (e)	DKK	500		70
OSB Group plc, (United Kingdom), Reg. S, (UK Gilts 1 Year + 4.99%), 9.50%, 09/07/2028 (aa)	GBP	3,400		4,454
Private Export Funding Corp., 0.55%, 07/30/2024 (e)		300		293
Series PP, 1.40%, 07/15/2028		775		692
Programa Cedulas TDA Fondo de Titulizacion de Activos, (Spain), Series A6, 4.25%, 04/10/2031	EUR	100		120
Prs Finance plc, (United Kingdom),
Reg. S, 1.75%, 11/24/2026	GBP	178		213
Reg. S, 2.00%, 01/23/2029	GBP	500		583
Realkredit Danmark A/S, (Denmark),
Series 10f, Reg. S, 1.00%, 01/01/2025 (e)	DKK	700		101
Series 10F, Reg. S, 1.00%, 01/01/2026 (e)	DKK	1,000		143
Series 22S, Reg. S, 0.00%, 10/01/2040 (e)	DKK	41		5
Societe Generale SFH SA, (France),
Reg. S, 0.50%, 06/02/2025	EUR	100		106
Reg. S, 0.50%, 01/28/2026	EUR	100		105
Reg. S, 1.75%, 05/05/2034	EUR	200		198
Sparebanken Vest Boligkreditt A/S, (Norway), Reg. S, 2.50%, 09/22/2027	EUR	100		109
Swedbank Hypotek AB, (Sweden),
Reg. S, 0.05%, 05/28/2025	EUR	100		106
Series 195, Reg. S, 1.00%, 06/18/2025	SEK	800		77
Series 196, Reg. S, 1.00%, 03/18/2026	SEK	1,000		95
Series 197, Reg. S, 1.00%, 03/17/2027	SEK	700		65
THFC Funding No. 1 plc, (United Kingdom), Reg. S, 5.13%, 12/21/2035	GBP	1,370		1,798
TP ICAP Finance plc, (United Kingdom), Reg. S, 5.25%, 05/29/2026	GBP	2,000		2,468
Visa, Inc.,
2.00%, 06/15/2029	EUR	4,100		4,349
2.70%, 04/15/2040		130		101
3.65%, 09/15/2047		200		169


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Diversified Financial Services — continued
Wellcome Trust Finance plc, (United Kingdom), Reg. S, 4.63%, 07/25/2036	GBP	225		297
Western Union Co. (The), 1.35%, 03/15/2026		620		569


				92,071

Insurance — 1.9%
Aflac, Inc., 4.75%, 01/15/2049		40		38
AIA Group Ltd., (Hong Kong), Reg. S, (EUR Swap Rate 5 Year + 1.10%), 0.88%, 09/09/2033 (aa)	EUR	1,800		1,693
Alleghany Corp.,
3.25%, 08/15/2051		135		103
3.63%, 05/15/2030		15		14
Allianz Finance II BV, (Netherlands),
Reg. S, 0.50%, 11/22/2033	EUR	200		177
Series 62, Reg. S, 4.50%, 03/13/2043	GBP	1,500		1,910
Allianz SE, (Germany),
Reg. S, (ICE LIBOR EUR 3 Month + 2.65%), 2.24%, 07/07/2045 (aa)	EUR	5,000		5,352
Reg. S, (ICE EURIBOR Swap Rate 10 Year + 3.20%), 3.38%, 09/18/2024 (x) (aa)	EUR	2,300		2,510
Reg. S, (ICE LIBOR EUR 3 Month + 3.55%), 4.25%, 07/05/2052 (aa)	EUR	6,000		6,555
Reg. S, (ICE LIBOR EUR 3 Month + 3.65%), 5.82%, 07/25/2053 (aa)	EUR	1,900		2,295
American International Group, Inc., 1.88%, 06/21/2027	EUR	1,000		1,055
Aon Corp., 2.80%, 05/15/2030		50		44
Aon Corp. / Aon Global Holdings PLC, 2.90%, 08/23/2051		20		13
3.90%, 02/28/2052		108		86
Aon Global Ltd., (United Kingdom), 4.60%, 06/14/2044		10		9
Argentum Netherlands BV for Zurich Insurance Co. Ltd., (Netherlands), Reg. S, (ICE LIBOR EUR 3 Month + 3.20%), 2.75%, 02/19/2049 (aa)	EUR	500		517
Arthur J Gallagher & Co., 2.40%, 11/09/2031		620		511
3.05%, 03/09/2052		70		47
3.50%, 05/20/2051		150		112
5.75%, 03/02/2053		240		245
6.50%, 02/15/2034		245		268
6.75%, 02/15/2054		1,050		1,227
ASR Nederland NV, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 4.00%), 3.38%, 05/02/2049 (aa)	EUR	1,000		1,023
Reg. S, (EUR Swap Rate 5 Year + 4.95%), 5.00%, 09/30/2024 (x) (aa)	EUR	1,000		1,103
Reg. S, (EUR Swap Rate 5 Year + 5.20%), 5.13%, 09/29/2045 (aa)	EUR	1,000		1,115


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Insurance — continued
Assicurazioni Generali SpA, (Italy),
Reg. S, 1.71%, 06/30/2032	EUR	1,000		887
Reg. S, 2.43%, 07/14/2031	EUR	1,000		963
Reg. S, 4.13%, 05/04/2026	EUR	100		111
Reg. S, (ICE LIBOR EUR 3 Month + 4.50%), 4.60%, 11/21/2025 (x) (aa)	EUR	770		846
Assurant, Inc.,
2.65%, 01/15/2032		216		175
3.70%, 02/22/2030		290		261
4.90%, 03/27/2028		87		86
Assured Guaranty US Holdings, Inc., 6.13%, 09/15/2028		500		525
Athene Global Funding,
Reg. S, 1.24%, 04/08/2024	EUR	1,300		1,423
2.50%, 01/14/2025 (e)		20		19
Athene Holding Ltd., (Bermuda), 3.95%, 05/25/2051		55		41
Aviva plc, (United Kingdom),
Reg. S, 1.88%, 11/13/2027	EUR	500		538
Reg. S, (ICE LIBOR EUR 3 Month + 3.55%), 3.38%, 12/04/2045 (aa)	EUR	1,000		1,076
Reg. S, (UK Gilts 5 Year + 4.70%), 4.00%, 06/03/2055 (aa)	GBP	825		864
Reg. S, (UK Gilts 5 Year + 2.85%), 6.13%, 11/14/2036 (aa)	GBP	430		560
AXA SA, (France),
Reg. S, (ICE LIBOR EUR 3 Month + 2.40%), 1.38%, 10/07/2041 (aa)	EUR	1,225		1,116
Reg. S, (ICE LIBOR EUR 3 Month + 3.75%), 3.38%, 07/06/2047 (aa)	EUR	1,900		2,049
Reg. S, (EUR Swap Rate 11 Year + 3.25%), 3.88%, 10/08/2025 (x) (aa)	EUR	5,000		5,444
Reg. S, (ICE LIBOR EUR 3 Month + 3.60%), 4.25%, 03/10/2043 (aa)	EUR	1,200		1,306
Reg. S, (SONIA Interest Rate Benchmark + 2.87%), 6.69%, 07/06/2026 (x) (aa)	GBP	375		484
Berkshire Hathaway Finance Corp.,
1.50%, 03/18/2030	EUR	2,200		2,203
2.38%, 06/19/2039	GBP	825		781
2.85%, 10/15/2050		15		10
3.85%, 03/15/2052		395		332
4.20%, 08/15/2048		25		23
Berkshire Hathaway, Inc.,
0.00%, 03/12/2025	EUR	1,900		2,017
2.15%, 03/15/2028	EUR	1,000		1,073
BNP Paribas Cardif SA, (France),
Reg. S, 1.00%, 11/29/2024	EUR	1,000		1,072
Reg. S, (ICE LIBOR EUR 3 Month + 3.93%), 4.03%, 11/25/2025 (x) (aa)	EUR	6,000		6,524


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Insurance — continued
Brown & Brown, Inc.,
2.38%, 03/15/2031		89		73
4.20%, 03/17/2032		48		44
4.95%, 03/17/2052		220		196
BUPA Finance plc, (United Kingdom), Reg. S, 5.00%, 10/12/2030	EUR	1,700		2,015
Caisse Nationale de Reassurance Mutuelle Agricole Groupama, (France), Reg. S, 0.75%, 07/07/2028	EUR	4,900		4,796
Chubb INA Holdings, Inc.,
0.88%, 12/15/2029	EUR	1,000		977
1.55%, 03/15/2028	EUR	3,000		3,122
Cloverie PLC for Zurich Insurance Co. Ltd., (Ireland),
Reg. S, 1.50%, 12/15/2028	EUR	1,000		1,035
Reg. S, 1.75%, 09/16/2024	EUR	500		544
CNA Financial Corp., 2.05%, 08/15/2030		2,500		2,083
CNP Assurances SACA, (France),
Reg. S, 0.38%, 03/08/2028	EUR	100		97
Reg. S, 1.25%, 01/27/2029	EUR	700		682
Reg. S, (ICE LIBOR EUR 3 Month + 3.65%), 2.50%, 06/30/2051 (aa)	EUR	1,000		962
Corebridge Financial, Inc.,
3.50%, 04/04/2025		40		39
4.35%, 04/05/2042		155		132
Credit Agricole Assurances SA, (France),
Reg. S, 2.00%, 07/17/2030	EUR	600		580
Reg. S, (EUR Swap Rate 5 Year + 4.50%), 4.25%, 01/13/2025 (x) (aa)	EUR	800		878
Reg. S, (EUR Swap Rate 5 Year + 4.35%), 4.50%, 10/14/2025 (x) (aa)	EUR	100		110
Enstar Group Ltd., (Bermuda),
3.10%, 09/01/2031		901		736
4.95%, 06/01/2029		270		264
Everest Reinsurance Holdings, Inc.,
3.13%, 10/15/2052		82		56
3.50%, 10/15/2050		745		550
Fairfax Financial Holdings Ltd., (Canada),
3.38%, 03/03/2031		2,000		1,760
4.85%, 04/17/2028		375		369
5.63%, 08/16/2032		1,440		1,440
Hannover Rueck SE, (Germany),
Reg. S, (ICE LIBOR EUR 3 Month + 2.38%), 1.13%, 10/09/2039 (aa)	EUR	1,000		938
Reg. S, (ICE LIBOR EUR 3 Month + 3.75%), 5.88%, 08/26/2043 (aa)	EUR	2,000		2,462
Jackson Financial, Inc., 4.00%, 11/23/2051		5		4
Legal & General Finance plc, (United Kingdom), Reg. S, 5.88%, 04/05/2033	GBP	425		588


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Insurance — continued
Legal & General Group plc, (United Kingdom),
Reg. S, (UK Gilts 5 Year + 5.25%), 4.50%, 11/01/2050 (aa)	GBP	825		966
Reg. S, (UK Gilts 5 Year + 4.65%), 5.13%, 11/14/2048 (aa)	GBP	600		747
Liberty Mutual Group, Inc.,
3.95%, 10/15/2050 (e)		830		630
5.50%, 06/15/2052 (e)		495		489
Loews Corp., 3.20%, 05/15/2030		10		9
M&G plc, (United Kingdom), Reg. S, (UK Gilts 5 Year + 4.16%), 5.56%, 07/20/2055 (aa)	GBP	825		960
Markel Group, Inc., 3.45%, 05/07/2052		1,000		715
Marsh & McLennan Cos., Inc.,
1.98%, 03/21/2030	EUR	5,050		5,246
2.90%, 12/15/2051		780		527
4.20%, 03/01/2048		850		739
4.75%, 03/15/2039		179		174
4.90%, 03/15/2049		290		282
5.45%, 03/15/2053		219		230
MetLife, Inc.,
Reg. S, 5.38%, 12/09/2024	GBP	1,000		1,273
5.38%, 07/15/2033		429		448
Metropolitan Life Global Funding I,
Reg. S, 0.50%, 05/25/2029	EUR	500		480
Reg. S, 0.55%, 06/16/2027	EUR	1,475		1,493
Reg. S, 0.63%, 12/08/2027	GBP	1,000		1,109
Reg. S, 1.63%, 10/12/2028	GBP	1,000		1,132
Reg. S, 1.63%, 09/21/2029	GBP	2,125		2,346
Reg. S, 1.75%, 05/25/2025	EUR	1,000		1,078
Reg. S, 3.50%, 09/30/2026	GBP	2,000		2,491
Reg. S, 4.13%, 09/02/2025	GBP	1,000		1,262
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, (Germany),
Reg. S, (ICE LIBOR EUR 3 Month + 2.10%), 1.00%, 05/26/2042 (aa)	EUR	15,800		13,735
Reg. S, (ICE LIBOR EUR 3 Month + 2.55%), 1.25%, 05/26/2041 (aa)	EUR	5,000		4,578
Reg. S, (ICE LIBOR EUR 3 Month + 3.40%), 3.25%, 05/26/2049 (aa)	EUR	2,000		2,136
Mutuelle Assurance Des Commercants et Industriels de France et Des Cadres et Sal, (France), Reg. S, 0.63%, 06/21/2027	EUR	1,900		1,898
New York Life Global Funding, Reg. S, 3.63%, 01/09/2030	EUR	9,625		10,925
NN Group NV, (Netherlands), Reg. S, (ICE LIBOR EUR 3 Month + 4.00%), 4.50%, 01/15/2026 (x) (aa)	EUR	1,350		1,483
Old Republic International Corp., 3.85%, 06/11/2051		85		62
Pension Insurance Corp. plc, (United Kingdom), Reg. S, 5.63%, 09/20/2030	GBP	1,121		1,363


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Insurance — continued
Phoenix Group Holdings plc, (United Kingdom), Reg. S, 6.63%, 12/18/2025	GBP	425		553
Primerica, Inc., 2.80%, 11/19/2031		315		267
Principal Financial Group, Inc., 5.50%, 03/15/2053		101		102
Progressive Corp. (The),
3.70%, 03/15/2052		150		122
3.95%, 03/26/2050		44		37
4.13%, 04/15/2047		20		18
4.95%, 06/15/2033		28		29
Prudential Funding Asia plc, (United Kingdom), 5.88%, 05/11/2029	GBP	1,500		2,024
RenaissanceRe Holdings Ltd., (Bermuda), 5.75%, 06/05/2033		882		890
Sampo OYJ, (Finland), Reg. S, 2.25%, 09/27/2030	EUR	1,000		1,084
SCOR SE, (France), Reg. S, (EUR Swap Rate 10 Year + 3.25%), 3.00%, 06/08/2046 (aa)	EUR	5,600		6,003
Sogecap SA, (France), Reg. S, (EUR Swap Rate 5 Year + 4.15%), 4.13%, 02/18/2026 (x) (aa)	EUR	1,700		1,849
Talanx AG, (Germany), Reg. S, 4.00%, 10/25/2029	EUR	12,500		14,366
Travelers Cos., Inc. (The), 5.45%, 05/25/2053		140		152
UNIQA Insurance Group AG, (Austria),
Reg. S, 1.38%, 07/09/2030	EUR	500		478
Reg. S, (ICE LIBOR EUR 3 Month + 3.35%), 2.38%, 12/09/2041 (aa)	EUR	500		448
Reg. S, (ICE LIBOR EUR 3 Month + 5.82%), 6.00%, 07/27/2046 (aa)	EUR	500		566
Unum Group,
4.00%, 06/15/2029		1,894		1,799
4.13%, 06/15/2051		914		687
5.75%, 08/15/2042		25		24
W R Berkley Corp., 4.00%, 05/12/2050		700		559
Zurich Finance Ireland Designated Activity Co., (Ireland),
Reg. S, 1.63%, 06/17/2039	EUR	500		446
Reg. S, (UK Gilts 5 Year + 4.10%), 5.13%, 11/23/2052 (aa)	GBP	5,625		6,897


				188,769

Investment Companies — 0.2%
Ares Capital Corp.,
2.15%, 07/15/2026		385		351
3.88%, 01/15/2026		310		298
7.00%, 01/15/2027		490		504
Barings BDC, Inc., 3.30%, 11/23/2026		20		18
Blackstone Private Credit Fund, 3.25%, 03/15/2027		195		179
Blackstone Secured Lending Fund, 2.85%, 09/30/2028		23		20


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Investment Companies — continued
Blue Owl Capital Corp., 2.88%, 06/11/2028		265		233
FS KKR Capital Corp.,
2.63%, 01/15/2027		275		247
3.13%, 10/12/2028		255		223
7.88%, 01/15/2029		270		286
Golub Capital BDC, Inc., 2.50%, 08/24/2026		5		5
Investor AB, (Sweden),
Reg. S, 0.38%, 10/29/2035	EUR	425		340
Reg. S, 1.50%, 09/12/2030	EUR	700		702
Reg. S, 2.75%, 06/10/2032	EUR	1,000		1,071
Main Street Capital Corp., 3.00%, 07/14/2026		165		151
MDGH GMTN RSC Ltd., (United Arab Emirates),
Reg. S, 0.38%, 03/10/2027	EUR	1,000		999
Reg. S, 1.00%, 03/10/2034	EUR	600		522
Temasek Financial I Ltd., (Singapore),
Reg. S, 1.50%, 03/01/2028	EUR	4,300		4,468
Reg. S, 3.25%, 02/15/2027	EUR	1,000		1,115
Wendel SE, (France), Reg. S, 1.00%, 06/01/2031	EUR	4,400		4,045


				15,777

Private Equity — 0.2%
3i Group plc, (United Kingdom),
Reg. S, 4.88%, 06/14/2029	EUR	16,925		19,491
Reg. S, 5.75%, 12/03/2032	GBP	350		477
Intermediate Capital Group plc, (United Kingdom), Reg. S, 1.63%, 02/17/2027	EUR	1,000		1,016


				20,984

Real Estate — 0.9%
Affinity Sutton Capital Markets plc, (United Kingdom), Reg. S, 5.98%, 09/17/2038	GBP	1,000		1,389
Akelius Residential Property Financing BV, (Netherlands), Reg. S, 1.00%, 01/17/2028	EUR	1,000		947
Aroundtown SA, (Luxembourg),
Reg. S, 0.00%, 07/16/2026	EUR	3,800		3,514
Reg. S, 1.45%, 07/09/2028	EUR	4,000		3,436
Reg. S, (EUR Swap Rate 5 Year + 2.42%), 1.63%, 04/15/2026 (x) (aa)	EUR	3,000		1,027
Balder Finland OYJ, (Finland),
Reg. S, 1.00%, 01/18/2027	EUR	2,000		1,867
Reg. S, 1.00%, 01/20/2029	EUR	1,000		840
Reg. S, 2.00%, 01/18/2031	EUR	9,400		7,567
Blackstone Property Partners Europe Holdings Sarl, (Luxembourg),
Reg. S, 1.63%, 04/20/2030	EUR	1,000		882
Reg. S, 1.75%, 03/12/2029	EUR	2,500		2,319
Reg. S, 2.00%, 02/15/2024	EUR	500		550
Reg. S, 2.63%, 10/20/2028	GBP	1,075		1,168
Broadgate Financing plc, (United Kingdom), Series A4, Reg. S, 4.82%, 07/05/2033	GBP	50		64


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Real Estate — continued
CBRE Services, Inc.,
2.50%, 04/01/2031		15		13
4.88%, 03/01/2026		20		20
Clarion Funding plc, (United Kingdom),
Reg. S, 1.25%, 11/13/2032	GBP	1,000		960
Reg. S, 1.88%, 09/07/2051	GBP	500		335
Reg. S, 2.63%, 01/18/2029	GBP	200		233
CPI Property Group SA, (Luxembourg),
Reg. S, 1.50%, 01/27/2031	EUR	2,000		1,148
Reg. S, 1.75%, 01/14/2030	EUR	1,000		624
Reg. S, 2.75%, 01/22/2028	GBP	1,800		1,604
CTP NV, (Netherlands),
Reg. S, 0.50%, 06/21/2025		EUR 2,865		2,976
Reg. S, 0.63%, 09/27/2026	EUR	3,500		3,470
Reg. S, 0.88%, 01/20/2026	EUR	1,000		1,022
Reg. S, 1.25%, 06/21/2029	EUR	600		546
Reg. S, 1.50%, 09/27/2031	EUR	2,500		2,136
Deutsche Wohnen SE, (Germany),
Reg. S, 0.50%, 04/07/2031	EUR	500		451
Reg. S, 1.00%, 04/30/2025	EUR	2,000		2,113
Reg. S, 1.30%, 04/07/2041	EUR	500		358
Reg. S, 1.50%, 04/30/2030	EUR	2,000		1,925
Fastighets AB Balder, (Sweden),
Reg. S, 1.13%, 01/29/2027	EUR	4,000		3,771
Reg. S, 1.88%, 03/14/2025	EUR	400		422
Reg. S, 1.88%, 01/23/2026	EUR	2,000		2,010
Heimstaden Bostad AB, (Sweden), Reg. S, 1.13%, 01/21/2026	EUR	1,200		1,131
Hexagon Housing Association Ltd., (United Kingdom), Reg. S, 3.63%, 04/22/2048	GBP	1,000		953
HOWOGE Wohnungsbaugesellschaft mbH, (Germany), Reg. S, 1.13%, 11/01/2033	EUR	100		87
Logicor 2019-1 UK plc, (United Kingdom), Reg. S, 1.88%, 11/17/2026	GBP	825		965
Logicor Financing Sarl, (Luxembourg),
Reg. S, 0.75%, 07/15/2024	EUR	1,500		1,616
Reg. S, 0.88%, 01/14/2031	EUR	400		339
Reg. S, 1.50%, 07/13/2026	EUR	1,200		1,240
Reg. S, 2.25%, 05/13/2025	EUR	2,000		2,137
London & Quadrant Housing Trust, (United Kingdom),
Reg. S, 2.00%, 03/31/2032	GBP	1,000		1,037
Reg. S, 2.00%, 10/20/2038	GBP	425		369
Reg. S, 2.63%, 02/28/2028	GBP	1,225		1,438
Reg. S, 2.75%, 07/20/2057	GBP	425		338
Reg. S, 3.13%, 02/28/2053	GBP	500		447
Meadowhall Finance plc, (United Kingdom), Series A1, Reg. S, 4.99%, 01/12/2032	GBP	25		30
NE Property BV, (Netherlands),
Reg. S, 1.75%, 11/23/2024	EUR	500		533
Reg. S, 1.88%, 10/09/2026	EUR	1,000		1,008
Reg. S, 2.00%, 01/20/2030	EUR	500		441
Reg. S, 3.38%, 07/14/2027	EUR	500		520


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Real Estate — continued
Notting Hill Genesis, (United Kingdom),
Reg. S, 2.00%, 06/03/2036	GBP	2,800		2,589
Reg. S, 3.25%, 10/12/2048	GBP	1,000		932
Reg. S, 4.38%, 02/20/2054	GBP	500		567
Reg. S, 5.25%, 07/07/2042	GBP	1,000		1,273
Ontario Teachers’ Cadillac Fairview Properties Trust, (Canada),
2.50%, 10/15/2031 (e)		580		471
4.13%, 02/01/2029 (e)		2,100		1,979
Optivo Finance plc, (United Kingdom),
Reg. S, 3.28%, 03/22/2048	GBP	2,000		1,850
Reg. S, 5.25%, 03/13/2043	GBP	1,000		1,262
Orbit Capital plc, (United Kingdom), Reg. S, 3.38%, 06/14/2048	GBP	1,325		1,273
P3 Group Sarl, (Luxembourg), Reg. S, 0.88%, 01/26/2026	EUR	490		504
Sagax AB, (Sweden), Reg. S, 2.25%, 03/13/2025	EUR	1,000		1,073
Sagax Euro Mtn NL BV, (Netherlands), Reg. S, 1.63%, 02/24/2026	EUR	1,000		1,045
Sinochem Offshore Capital Co. Ltd., (British Virgin Islands), Reg. S, 0.75%, 11/25/2025	EUR	1,000		1,025
Telereal Securitisation plc, (United Kingdom), Series B4, 6.16%, 12/10/2031	GBP	41		53
Tesco Property Finance 1 plc, (United Kingdom), Reg. S, 7.62%, 07/13/2039	GBP	78		113
Trafford Centre Finance Ltd. (The), (Cayman Islands), Series A2, Reg. S, 6.50%, 07/28/2033	GBP	32		41
Vonovia Finance BV, (Netherlands),
Reg. S, 0.63%, 07/09/2026	EUR	300		309
Reg. S, 1.00%, 01/28/2041	EUR	1,100		723
Series DIP, Reg. S, 1.50%, 03/31/2025	EUR	2,000		2,145
Vonovia SE, (Germany), Reg. S, 0.75%, 09/01/2032	EUR	1,700		1,422


				86,985

REITS — 0.9%
Aedifica SA, (Belgium), Reg. S, 0.75%, 09/09/2031	EUR	1,200		1,052
Altarea SCA, (France), Reg. S, 1.75%, 01/16/2030	EUR	400		339
American Tower Corp.,
0.88%, 05/21/2029	EUR	5,973		5,745
1.38%, 04/04/2025	EUR	2,050		2,196
1.95%, 05/22/2026	EUR	1,000		1,064
2.95%, 01/15/2025		405		395
5.80%, 11/15/2028		300		312
Brixmor Operating Partnership LP,
4.05%, 07/01/2030		1,175		1,100
4.13%, 06/15/2026		2,300		2,228
4.13%, 05/15/2029		875		834


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


REITS — continued
Carmila SA, (France),
Reg. S, 1.63%, 05/30/2027	EUR	1,000		1,018
Reg. S, 2.38%, 09/16/2024		EUR 1,000		1,087
Crown Castle, Inc.,
5.60%, 06/01/2029		530		543
5.80%, 03/01/2034		350		363
Digital Realty Trust LP,
3.70%, 08/15/2027		393		379
5.55%, 01/15/2028		24		24
EPR Properties,
3.60%, 11/15/2031		790		656
3.75%, 08/15/2029		160		141
Equinix, Inc.,
0.25%, 03/15/2027		EUR 3,900		3,915
1.00%, 03/15/2033		EUR 3,500		3,119
1.45%, 05/15/2026		200		185
2.63%, 11/18/2024		85		83
2.90%, 11/18/2026		200		190
Extra Space Storage LP,
3.50%, 07/01/2026		153		147
5.70%, 04/01/2028		19		19
GLP Capital LP / GLP Financing II, Inc.,
3.25%, 01/15/2032		780		658
5.38%, 04/15/2026		1,500		1,491
Goodman Australia Finance Pty Ltd., (Australia), Reg. S, 1.38%, 09/27/2025		EUR 2,758		2,941
Hammerson Ireland Finance DAC, (Ireland), Reg. S, 1.75%, 06/03/2027		EUR 9,733		9,818
Hammerson plc, (United Kingdom), Reg. S, 7.25%, 04/21/2028		GBP 1,400		1,849
Healthpeak OP LLC, 3.00%, 01/15/2030		1,400		1,247
Host Hotels & Resorts LP,
Series I, 3.50%, 09/15/2030		785		701
Series J, 2.90%, 12/15/2031		415		349
Invitation Homes Operating Partnership LP,
2.30%, 11/15/2028		2		2
5.45%, 08/15/2030		90		91
Kimco Realty OP LLC, 2.70%, 10/01/2030		1,900		1,645
Klepierre SA, (France),
Reg. S, 0.88%, 02/17/2031	EUR	1,000		916
Reg. S, 1.63%, 12/13/2032	EUR	1,000		942
Reg. S, 2.00%, 05/12/2029	EUR	1,000		1,034
Mercialys SA, (France),
Reg. S, 1.80%, 02/27/2026		EUR 1,000		1,053
Reg. S, 2.50%, 02/28/2029	EUR	300		302
Merlin Properties Socimi SA, (Spain), Reg. S, 2.38%, 07/13/2027	EUR	1,000		1,062
National Health Investors, Inc., 3.00%, 02/01/2031		290		232
Omega Healthcare Investors, Inc., 3.25%, 04/15/2033		155		126
4.50%, 04/01/2027		142		136
4.75%, 01/15/2028		48		46


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
REITS — continued
Praemia Healthcare SACA, (France), Reg. S, 5.50%, 09/19/2028	EUR	3,600		4,159
Prologis Euro Finance LLC,
0.25%, 09/10/2027	EUR	2,725		2,704
Prologis LP, 2.25%, 06/30/2029	GBP	1,600		1,822
4.88%, 06/15/2028		150		152
5.25%, 06/15/2053		86		90
Public Storage Operating Co.,
0.50%, 09/09/2030	EUR	1,500		1,368
0.88%, 02/15/2026		45		42
1.50%, 11/09/2026		119		109
1.85%, 05/01/2028		250		225
1.95%, 11/09/2028		828		739
2.25%, 11/09/2031		165		141
3.09%, 09/15/2027		100		95
3.39%, 05/01/2029		145		138
5.35%, 08/01/2053		27		28
Realty Income Corp.,
1.63%, 12/15/2030	GBP	200		206
1.75%, 07/13/2033	GBP	1,100		1,063
3.10%, 12/15/2029		800		734
5.13%, 07/06/2034	EUR	1,700		2,071
Sabra Health Care LP, 3.20%, 12/01/2031		320		262
Scentre Group Trust 1 / Scentre Group Trust 2, (Australia),
Reg. S, 1.45%, 03/28/2029	EUR	2,000		1,943
Reg. S, 1.75%, 04/11/2028	EUR	2,000		2,009
Scentre Group Trust 1, (Australia),
Reg. S, 2.25%, 07/16/2024	EUR	2,000		2,179
Reg. S, 3.88%, 07/16/2026	GBP	554		685
Simon International Finance SCA, (Luxembourg), Reg. S, 1.25%, 05/13/2025	EUR	2,325		2,475
Simon Property Group LP,
1.38%, 01/15/2027		70		64
2.45%, 09/13/2029		125		111
3.50%, 09/01/2025		50		49
4.25%, 10/01/2044		2		2
4.25%, 11/30/2046		65		55
5.85%, 03/08/2053		389		415
6.65%, 01/15/2054		90		106
Tanger Properties LP, 2.75%, 09/01/2031		350		282
Ventas Realty LP,
4.00%, 03/01/2028		251		240
4.13%, 01/15/2026		2,300		2,243
4.40%, 01/15/2029		262		255
VICI Properties LP,
4.75%, 02/15/2028		485		475
4.95%, 02/15/2030		1,645		1,592
Welltower OP LLC,
2.75%, 01/15/2031		50		44
3.10%, 01/15/2030		2,567		2,319


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


REITS — continued
4.00%, 06/01/2025		67		66
4.25%, 04/15/2028		44		43
4.50%, 12/01/2034	GBP	300		361
4.80%, 11/20/2028	GBP	1,650		2,110
Weyerhaeuser Co., 4.00%, 04/15/2030		1,500		1,431
WP Carey, Inc., 2.25%, 04/01/2033		1,000		780
WPC Eurobond BV, (Netherlands),
0.95%, 06/01/2030	EUR	1,800		1,650
2.13%, 04/15/2027	EUR	1,800		1,884


				95,791

Savings & Loans — 0.1%
Coventry Building Society, (United Kingdom), Reg. S, 2.63%, 12/07/2026	EUR	5,000		5,458
Nationwide Building Society, (United Kingdom),
Reg. S, 0.25%, 07/22/2025	EUR	2,000		2,101
Reg. S, 0.63%, 03/25/2027	EUR	100		103
Reg. S, 5.63%, 01/28/2026	GBP	100		130
Yorkshire Building Society, (United Kingdom),
Reg. S, 0.01%, 10/13/2027	EUR	100		99
Reg. S, 0.01%, 11/16/2028	EUR	5,000		4,790


				12,681

Total Financial				1,819,099

Government — 2.7%
Multi-National — 2.7%
African Development Bank, (Supranational),
0.25%, 11/21/2024	EUR	925		993
0.50%, 03/22/2027	EUR	1,000		1,036
0.50%, 03/21/2029	EUR	3,500		3,492
0.88%, 05/24/2028	EUR	400		412
2.25%, 09/14/2029	EUR	2,000		2,178
Asian Development Bank, (Supranational),
Reg. S, 0.03%, 01/31/2030	EUR	3,550		3,380
0.35%, 07/16/2025	EUR	700		743
0.75%, 12/07/2027	GBP	5,000		5,673
1.40%, 02/06/2037	EUR	7,000		6,528
1.63%, 03/15/2024		100		99
1.95%, 07/22/2032	EUR	10,000		10,473
2.00%, 01/22/2025		300		292
2.50%, 12/19/2024	GBP	2,000		2,490
4.13%, 09/27/2024		1,540		1,529
6.22%, 08/15/2027		100		106
Asian Infrastructure Investment Bank (The), (Supranational),
0.50%, 10/30/2024		495		477
4.88%, 09/14/2026		620		630
Corp. Andina de Fomento, (Supranational),
Reg. S, 0.25%, 02/04/2026	EUR	2,000		2,062
Reg. S, 1.13%, 02/13/2025	EUR	10,000		10,708


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Multi-National — continued
Council Of Europe Development Bank, (Supranational),
Reg. S, 0.00%, 04/09/2027	EUR	2,000		2,038
Reg. S, 0.00%, 01/20/2031	EUR	5,000		4,642
Reg. S, 0.25%, 01/19/2032	EUR	3,000		2,771
Reg. S, 0.38%, 03/27/2025	EUR	175		187
Reg. S, 0.63%, 01/30/2029	EUR	1,500		1,515
Reg. S, 0.75%, 06/09/2025	EUR	50		54
Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial, (Supranational),
4.55%, 03/30/2027	CAD	300		230
5.50%, 06/07/2032	GBP	300		420
European Bank for Reconstruction & Development, (Supranational), 0.50%, 05/19/2025		135		128
European Investment Bank, (Supranational),
0.00%, 03/15/2024	EUR	300		329
Reg. S, 0.00%, 03/25/2025	EUR	5,000		5,327
Reg. S, 0.00%, 03/13/2026	EUR	700		733
Reg. S, 0.00%, 06/17/2027	EUR	1,500		1,527
Reg. S, 0.00%, 09/28/2028	EUR	1,000		988
Zero Coupon, 05/28/2037 (e)	CAD	150		66
Reg. S, 0.01%, 11/15/2035	EUR	4,200		3,364
Reg. S, 0.01%, 05/15/2041	EUR	5,000		3,355
Reg. S, 0.05%, 11/15/2029	EUR	10,000		9,634
0.05%, 01/16/2030	EUR	17,900		17,172
Reg. S, 0.05%, 10/13/2034	EUR	19,000		15,839
Reg. S, 0.10%, 10/15/2026	EUR	5,000		5,185
Reg. S, 0.13%, 12/14/2026	GBP	1,875		2,144
Reg. S, 0.13%, 06/20/2029	EUR	6,000		5,861
Reg. S, 0.25%, 06/15/2040	EUR	3,950		2,854
0.38%, 03/26/2026		1,300		1,195
Reg. S, 0.38%, 04/14/2026	EUR	3,000		3,159
0.50%, 01/15/2027	EUR	2,000		2,090
Reg. S, 0.50%, 11/13/2037	EUR	2,000		1,627
Reg. S, 0.88%, 05/15/2026	GBP	2,000		2,367
0.88%, 09/13/2047	EUR	200		144
Reg. S, 1.00%, 03/14/2031	EUR	20,000		19,940
Reg. S, 1.00%, 04/14/2032	EUR	3,275		3,207
Reg. S, 1.38%, 03/07/2025	GBP	100		123
Reg. S, 2.75%, 09/15/2025	EUR	10,000		11,059
Reg. S, 2.75%, 07/30/2030	EUR	30,000		33,655
2.75%, 09/13/2030	EUR	230		259
Reg. S, 3.63%, 03/14/2042	EUR	2,025		2,435
Reg. S, 3.88%, 06/08/2037	GBP	3,000		3,764
4.50%, 10/15/2025	EUR	10,000		11,394
4.50%, 10/16/2028		720		737
Reg. S, 4.50%, 03/07/2044	GBP	3,000		3,931
5.00%, 04/15/2039	GBP	3,500		4,892
Reg. S, 6.27%, 08/28/2024	IDR	10,000,000		649
Series 1981, 2.63%, 03/15/2035	EUR	40		44
Series DIP, Reg. S, 4.63%, 10/12/2054	GBP	3,055		4,116


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Multi-National — continued
FMS Wertmanagement, (Germany), Reg. S, 0.38%, 04/29/2030	EUR	1,600		1,548
Inter-American Development Bank, (Supranational),
0.50%, 09/23/2024		750		726
0.88%, 04/20/2026		400		371
1.25%, 12/15/2025	GBP	2,000		2,409
1.50%, 01/13/2027		1,000		926
2.13%, 01/15/2025		290		282
2.38%, 08/03/2029	GBP	1,000		1,193
3.00%, 02/21/2024		100		100
6.75%, 07/15/2027		700		753
International Development Association, (Supranational),
Reg. S, 0.00%, 10/19/2026	EUR	1,000		1,027
Reg. S, 0.35%, 04/22/2036	EUR	3,500		2,917
Reg. S, 0.38%, 09/22/2027	GBP	2,000		2,244
Reg. S, 0.70%, 01/17/2042	EUR	1,000		751
Reg. S, 2.50%, 01/15/2038	EUR	4,000		4,220
International Finance Corp., (Supranational),
0.25%, 12/15/2025	GBP	1,000		1,182
Reg. S, 1.38%, 03/07/2025	GBP	1,000		1,227
3.63%, 09/15/2025		920		907
North American Development Bank, (Supranational), Reg. S, 0.20%, 11/28/2028	CHF	200		224


				273,458

Municipal — 0.0% (g)
Transport for London, (United Kingdom),
Reg. S, 3.88%, 07/23/2042	GBP	140		156
Reg. S, 4.00%, 09/12/2033	GBP	300		361


				517

Regional (State/Province) — 0.0% (g)
KAF Kaerntner Ausgleichszahlungs-Fonds, (Austria), Reg. S, Zero Coupon, 01/14/2032	EUR	860		752
UK Municipal Bonds Agency Finance Co. Designated Activity Co., (Ireland), Reg. S, 1.63%, 08/26/2060	GBP	100		56


				808

Total Government				274,783

Industrial — 3.2%
Aerospace/Defense — 0.4%
Airbus SE, (Netherlands),
Reg. S, 1.63%, 06/09/2030	EUR	7,050		7,188
Reg. S, 2.00%, 04/07/2028	EUR	1,715		1,828
Reg. S, 2.38%, 04/07/2032	EUR	1,000		1,052
BAE Systems plc, (United Kingdom),
1.90%, 02/15/2031 (e)		1,350		1,111
Boeing Co. (The),
3.45%, 11/01/2028		100		94
4.88%, 05/01/2025		922		918


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Aerospace/Defense — continued
5.71%, 05/01/2040		2,300		2,387
5.81%, 05/01/2050		50		52
General Dynamics Corp.,
2.25%, 06/01/2031		341		297
3.60%, 11/15/2042		18		15
3.75%, 05/15/2028		375		368
4.25%, 04/01/2040		22		21
Hexcel Corp., 4.20%, 02/15/2027		520		501
L3Harris Technologies, Inc., 5.40%, 07/31/2033		1,600		1,667
Leonardo SpA, (Italy), Reg. S, 4.88%, 03/24/2025	EUR	1,600		1,787
Lockheed Martin Corp.,
3.80%, 03/01/2045		300		259
4.09%, 09/15/2052		35		31
4.15%, 06/15/2053		400		359
4.30%, 06/15/2062		324		292
4.70%, 05/15/2046		360		353
4.75%, 02/15/2034		300		307
5.10%, 11/15/2027		400		413
5.20%, 02/15/2055		120		127
5.70%, 11/15/2054		290		328
5.90%, 11/15/2063		185		217
RTX Corp.,
2.15%, 05/18/2030	EUR	1,500		1,518
2.82%, 09/01/2051		200		133
3.20%, 03/15/2024		30		30
3.95%, 08/16/2025		96		95
6.40%, 03/15/2054		299		347
7.20%, 08/15/2027		20		21
Safran SA, (France),
Reg. S, 0.13%, 03/16/2026	EUR	1,000		1,034
Reg. S, 0.75%, 03/17/2031	EUR	5,500		5,283
Thales SA, (France),
Reg. S, 0.00%, 03/26/2026	EUR	4,100		4,219
Reg. S, 0.75%, 01/23/2025	EUR	1,000		1,072
Reg. S, 1.00%, 05/15/2028	EUR	1,900		1,920
Reg. S, 4.13%, 10/18/2028	EUR	800		923


				38,567

Building Materials — 0.5%
Carrier Global Corp.,
2.24%, 02/15/2025		20		19
2.49%, 02/15/2027		10		9
3.38%, 04/05/2040		100		81
4.13%, 05/29/2028 (e)	EUR	1,600		1,819
4.38%, 05/29/2025 (e)	EUR	900		1,002
4.50%, 11/29/2032 (e)	EUR	1,000		1,181
5.90%, 03/15/2034 (e)		131		142
6.20%, 03/15/2054 (e)		85		99
CRH Finance DAC, (Ireland), Reg. S, 1.38%, 10/18/2028	EUR	1,164		1,187
Crh Finance UK plc, (United Kingdom), Reg. S, 4.13%, 12/02/2029	GBP	1,500		1,856


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Building Materials — continued
CRH Funding BV, (Netherlands), Reg. S, 1.63%, 05/05/2030	EUR	800		804
CRH SMW Finance DAC, (Ireland),
Reg. S, 1.25%, 11/05/2026	EUR	1,000		1,052
Reg. S, 4.00%, 07/11/2027	EUR	5,000		5,669
Reg. S, 4.25%, 07/11/2035	EUR	7,600		8,819
Eagle Materials, Inc., 2.50%, 07/01/2031		461		392
Fortune Brands Innovations, Inc., 4.50%, 03/25/2052		30		25
Heidelberg Materials AG, (Germany), Reg. S, 3.75%, 05/31/2032	EUR	3,825		4,267
Holcim Finance Luxembourg SA, (Luxembourg),
Reg. S, 0.50%, 11/29/2026	EUR	500		515
Reg. S, 0.50%, 09/03/2030	EUR	500		458
Reg. S, 0.50%, 04/23/2031	EUR	1,000		898
Reg. S, 0.63%, 04/06/2030	EUR	4,350		4,074
Reg. S, 0.63%, 01/19/2033	EUR	500		431
Reg. S, 1.50%, 04/06/2025	EUR	5,000		5,374
Holcim Sterling Finance Netherlands BV, (Netherlands), Reg. S, 3.00%, 05/12/2032	GBP	3,500		3,866
Johnson Controls International plc / Tyco Fire & Security Finance SCA, (Ireland),
1.00%, 09/15/2032	EUR	1,000		920
3.00%, 09/15/2028	EUR	1,000		1,098
Lennox International, Inc.,
1.35%, 08/01/2025		12		11
5.50%, 09/15/2028		265		273
Martin Marietta Materials, Inc.,
3.20%, 07/15/2051		96		72
4.25%, 07/02/2024		40		40
Owens Corning,
3.95%, 08/15/2029		567		541
4.40%, 01/30/2048		18		16
Trane Technologies Financing Ltd., (Ireland), 4.50%, 03/21/2049		15		14
Vulcan Materials Co.,
3.50%, 06/01/2030		60		56
5.80%, 03/01/2026		240		240


				47,320

Electrical Components & Equipment — 0.2%
Eaton Capital Unlimited Co., (Ireland),
Reg. S, 0.13%, 03/08/2026	EUR	10,000		10,360
Reg. S, 0.58%, 03/08/2030	EUR	1,500		1,430
Reg. S, 0.70%, 05/14/2025	EUR	2,525		2,684
Reg. S, 0.75%, 09/20/2024	EUR	1,000		1,080
Emerson Electric Co.,
1.25%, 10/15/2025	EUR	1,000		1,067
1.95%, 10/15/2030		200		173
2.00%, 10/15/2029	EUR	1,500		1,574
2.80%, 12/21/2051		67		46


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electrical Components & Equipment — continued
Legrand SA, (France),
Reg. S, 0.63%, 06/24/2028	EUR	1,000		1,009
Reg. S, 1.00%, 03/06/2026	EUR	1,000		1,062
Reg. S, 1.88%, 07/06/2032	EUR	1,000		1,031
Signify NV, (Netherlands),
Reg. S, 2.00%, 05/11/2024	EUR	550		602
Reg. S, 2.38%, 05/11/2027	EUR	175		187


				22,305

Electronics — 0.3%
Allegion US Holding Co., Inc., 3.20%, 10/01/2024		20		20
Amphenol Technologies Holding GmbH, (Germany), Reg. S, 0.75%, 05/04/2026	EUR	2,525		2,643
Arrow Electronics, Inc., 6.13%, 03/01/2026		180		180
Assa Abloy AB, (Sweden),
Reg. S, 3.88%, 09/13/2030	EUR	4,550		5,271
Reg. S, 4.13%, 09/13/2035	EUR	5,575		6,743
Avnet, Inc., 5.50%, 06/01/2032		60		59
Flex Ltd., (Singapore),
3.75%, 02/01/2026		220		213
4.88%, 06/15/2029		431		423
4.88%, 05/12/2030		175		172
6.00%, 01/15/2028		21		22
Honeywell International, Inc.,
0.75%, 03/10/2032	EUR	2,500		2,280
2.25%, 02/22/2028	EUR	1,500		1,615
4.13%, 11/02/2034	EUR	3,700		4,336
4.50%, 01/15/2034		581		586
Hubbell, Inc., 2.30%, 03/15/2031		399		336
Jabil, Inc.,
1.70%, 04/15/2026		150		139
5.45%, 02/01/2029		350		358
Keysight Technologies, Inc., 3.00%, 10/30/2029		245		223
4.55%, 10/30/2024		250		247
4.60%, 04/06/2027		55		55
TD SYNNEX Corp., 2.38%, 08/09/2028		5		4
Tyco Electronics Group SA, (Luxembourg),
0.00%, 02/14/2025	EUR	1,000		1,061
0.00%, 02/16/2029	EUR	1,000		954
Vontier Corp.,
2.40%, 04/01/2028		143		125
2.95%, 04/01/2031		485		409


				28,474

Engineering & Construction — 0.6%
ABB Finance BV, (Netherlands),
Reg. S, 0.00%, 01/19/2030	EUR	2,000		1,859
Reg. S, 3.38%, 01/16/2031	EUR	10,000		11,311


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Engineering & Construction — continued
Aeroports de Paris SA, (France),
Reg. S, 1.00%, 01/05/2029	EUR	500		500
Reg. S, 1.50%, 07/02/2032	EUR	200		194
Reg. S, 2.13%, 10/02/2026	EUR	200		216
Reg. S, 2.75%, 06/05/2028	EUR	100		110
Reg. S, 2.75%, 04/02/2030	EUR	2,500		2,718
Cellnex Finance Co. SA, (Spain),
Reg. S, 2.00%, 02/15/2033	EUR	1,200		1,128
Reg. S, 2.25%, 04/12/2026	EUR	2,000		2,142
CRCC Hean Ltd., (Hong Kong), Reg. S, 0.88%, 05/20/2026	EUR	300		309
DAA Finance plc, (Ireland), Reg. S, 1.60%, 11/05/2032	EUR	100		95
Ferrovial Emisiones SA, (Spain),
Reg. S, 0.54%, 11/12/2028	EUR	1,000		979
Reg. S, 1.38%, 03/31/2025	EUR	1,000		1,074
Reg. S, 1.38%, 05/14/2026	EUR	1,000		1,063
Heathrow Funding Ltd., (Jersey),
Reg. S, 4.63%, 10/31/2046	GBP	325		380
Reg. S, 6.45%, 12/10/2031	GBP	225		318
Reg. S, 6.75%, 12/03/2026	GBP	150		201
HOCHTIEF AG, (Germany),
Reg. S, 0.50%, 09/03/2027	EUR	3,500		3,507
Reg. S, 0.63%, 04/26/2029	EUR	17,548		16,730
Reg. S, 1.75%, 07/03/2025	EUR	2,107		2,262
Jacobs Engineering Group, Inc., 6.35%, 08/18/2028		950		992
Royal Schiphol Group NV, (Netherlands),
Reg. S, 0.38%, 09/08/2027	EUR	300		302
Reg. S, 0.75%, 04/22/2033	EUR	200		178
Sydney Airport Finance Co. Pty Ltd., (Australia),
Reg. S, 1.75%, 04/26/2028	EUR	1,000		1,038
Reg. S, 2.75%, 04/23/2024	EUR	500		549
Technip Energies NV, (Netherlands), Reg. S, 1.13%, 05/28/2028	EUR	9,169		9,124
Vinci SA, (France), Reg. S, 3.38%, 10/17/2032	EUR	2,000		2,247
Worley US Finance Sub Ltd., Reg. S, 0.88%, 06/09/2026	EUR	3,075		3,168


				64,694

Environmental Control — 0.0% (g)
Waste Connections, Inc., (Canada),
2.60%, 02/01/2030		200		180
3.20%, 06/01/2032		50		45
4.25%, 12/01/2028		250		248
Waste Management, Inc.,
2.00%, 06/01/2029		14		13
4.63%, 02/15/2033		169		170


				656


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Hand/Machine Tools — 0.0% (g)
Regal Rexnord Corp., 6.05%, 02/15/2026 (e)		620		627
Snap-on, Inc., 3.10%, 05/01/2050		30		23


				650

Machinery — Construction & Mining — 0.1%
Oshkosh Corp., 3.10%, 03/01/2030		268		242
Sandvik AB, (Sweden),
Reg. S, 2.13%, 06/07/2027	EUR	1,000		1,070
Reg. S, 3.75%, 09/27/2029	EUR	1,000		1,141
Siemens Energy Finance BV, (Netherlands), Reg. S, 4.25%, 04/05/2029	EUR	2,000		2,147


				4,600

Machinery — Diversified — 0.2%
AGCO International Holdings BV, (Netherlands), Reg. S, 0.80%, 10/06/2028	EUR	6,200		5,991
Atlas Copco AB, (Sweden), Reg. S, 0.63%, 08/30/2026	EUR	1,325		1,379
Atlas Copco Finance DAC, (Ireland),
Reg. S, 0.13%, 09/03/2029	EUR	500		474
Reg. S, 0.75%, 02/08/2032	EUR	500		463
Dover Corp.,
0.75%, 11/04/2027	EUR	1,000		1,011
1.25%, 11/09/2026	EUR	1,000		1,051
Flowserve Corp., 3.50%, 10/01/2030		92		82
Highland Holdings Sarl, (Luxembourg),
0.32%, 12/15/2026	EUR	1,500		1,526
0.93%, 12/15/2031	EUR	2,050		1,871
IDEX Corp.,
2.63%, 06/15/2031		1,445		1,232
3.00%, 05/01/2030		332		296
Ingersoll Rand, Inc.,
5.40%, 08/14/2028		430		443
5.70%, 08/14/2033		545		577
Nordson Corp.,
5.60%, 09/15/2028		505		525
5.80%, 09/15/2033		591		629
nVent Finance Sarl, (Luxembourg), 5.65%, 05/15/2033		655		666
Otis Worldwide Corp.,
2.06%, 04/05/2025		20		19
2.29%, 04/05/2027		200		186
3.36%, 02/15/2050		10		8
Westinghouse Air Brake Technologies Corp.,
3.20%, 06/15/2025		350		339
4.15%, 03/15/2024		1,800		1,792


				20,560

Miscellaneous Manufacturers — 0.5%
Alfa Laval Treasury International AB, (Sweden), Reg. S, 0.88%, 02/18/2026	EUR	4,681		4,934


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Miscellaneous Manufacturers — continued
Carlisle Cos., Inc.,
2.20%, 03/01/2032		74		60
2.75%, 03/01/2030		50		45
Eaton Corp.,
4.15%, 11/02/2042		145		134
4.35%, 05/18/2028		70		70
GE Capital UK Funding Unlimited Co., (Ireland), Reg. S, 5.88%, 01/18/2033	GBP	2,950		4,030
General Electric Co.,
1.50%, 05/17/2029	EUR	1,000		1,020
1.88%, 05/28/2027	EUR	1,000		1,057
2.13%, 05/17/2037	EUR	488		470
Reg. S, 4.13%, 09/19/2035	EUR	1,000		1,179
Reg. S, 4.88%, 09/18/2037	GBP	4,000		4,760
Illinois Tool Works, Inc.,
0.63%, 12/05/2027	EUR	1,000		1,015
1.00%, 06/05/2031	EUR	500		486
Parker-Hannifin Corp., 1.13%, 03/01/2025	EUR	1,650		1,766
Pentair Finance Sarl, (Luxembourg), 4.50%, 07/01/2029		2,202		2,119
Siemens Financieringsmaatschappij NV, (Netherlands), Reg. S, 0.30%, 02/28/2024	EUR	20		22
Smiths Group plc, (United Kingdom), Reg. S, 2.00%, 02/23/2027	EUR	20,602		21,995
Teledyne Technologies, Inc., 1.60%, 04/01/2026		170		158
Textron, Inc., 2.45%, 03/15/2031		1,000		854
Wabtec Transportation Netherlands BV, (Netherlands), 1.25%, 12/03/2027	EUR	1,500		1,524


				47,698

Packaging & Containers — 0.1%
Amcor UK Finance plc, (United Kingdom), 1.13%, 06/23/2027	EUR	1,500		1,542
Ball Corp., 0.88%, 03/15/2024	EUR	1,200		1,313
Berry Global, Inc., 5.50%, 04/15/2028 (e)		615		623
DS Smith plc, (United Kingdom), Reg. S, 0.88%, 09/12/2026	EUR	4,300		4,428
Packaging Corp. of America, 5.70%, 12/01/2033		1,146		1,206
Sealed Air Corp., 5.50%, 09/15/2025 (e)		1,460		1,460


				10,572

Transportation — 0.3%
Aurizon Network Pty Ltd., (Australia),
Reg. S, 2.00%, 09/18/2024	EUR	1,000		1,087
Reg. S, 3.13%, 06/01/2026	EUR	1,000		1,093
Brambles Finance plc, (United Kingdom), Reg. S, 1.50%, 10/04/2027	EUR	1,000		1,039


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Transportation — continued
Burlington Northern Santa Fe LLC,
2.88%, 06/15/2052		380		267
3.00%, 04/01/2025		160		156
3.30%, 09/15/2051		20		15
4.15%, 04/01/2045		50		45
4.45%, 01/15/2053		75		71
4.55%, 09/01/2044		170		159
4.95%, 09/15/2041		700		697
5.20%, 04/15/2054		900		941
5.40%, 06/01/2041		70		73
Canadian National Railway Co., (Canada),
4.40%, 08/05/2052		160		151
6.13%, 11/01/2053		600		719
Canadian Pacific Railway Co., (Canada), 3.10%, 12/02/2051		210		153
4.20%, 11/15/2069		10		8
Deutsche Bahn Finance GMBH, (Germany),
Reg. S, 0.10%, 01/28/2036	CHF	150		153
Reg. S, 0.35%, 09/29/2031	EUR	100		92
Reg. S, 0.50%, 04/09/2027	EUR	140		144
Reg. S, 1.00%, 12/17/2027	EUR	300		310
Reg. S, 1.13%, 12/18/2028	EUR	300		307
Reg. S, 1.13%, 05/29/2051	EUR	112		78
Reg. S, 1.38%, 03/28/2031	EUR	2,000		2,007
Reg. S, 1.38%, 04/16/2040	EUR	50		42
Reg. S, 1.50%, 08/26/2024	CHF	500		594
Reg. S, 1.63%, 08/16/2033	EUR	189		185
Reg. S, 1.88%, 02/13/2026	GBP	6,000		7,290
Reg. S, 1.88%, 05/24/2030	EUR	300		312
1.99%, 07/08/2030	AUD	200		113
Reg. S, 3.25%, 05/19/2033	EUR	300		341
Reg. S, 3.50%, 09/27/2024	AUD	300		203
Reg. S, 3.63%, 12/18/2037	EUR	193		222
Reg. S, 3.75%, 10/29/2025	AUD	1,000		669
Series CB, Reg. S, (EUR Swap Rate 5 Year + 1.89%), 1.60%, 07/18/2029 (x) (aa)	EUR	1,700		1,581
East Japan Railway Co., (Japan), Reg. S, 4.50%, 01/25/2036	GBP	2,000		2,503
Ferrovie dello Stato Italiane SpA, (Italy),
Reg. S, 1.50%, 06/27/2025	EUR	510		547
Reg. S, 4.50%, 05/23/2033	EUR	200		231
La Poste SA, (France),
Reg. S, 0.00%, 07/18/2029	EUR	200		187
Reg. S, 0.38%, 09/17/2027	EUR	100		100
Reg. S, 0.63%, 10/21/2026	EUR	1,300		1,345
Reg. S, 1.00%, 09/17/2034	EUR	200		176
Reg. S, 1.38%, 04/21/2032	EUR	1,000		958
Reg. S, 2.63%, 09/14/2028	EUR	100		109
Reg. S, 4.00%, 06/12/2035	EUR	200		236
Network Rail Infrastructure Finance plc, (United Kingdom), Reg. S, 4.38%, 12/09/2030	GBP	190		250


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Transportation — continued
Norfolk Southern Corp., 5.95%, 03/15/2064		815		914
OeBB-Infrastruktur AG, (Austria),
2.25%, 05/28/2029	EUR	325		354
3.00%, 10/24/2033	EUR	200		227
Reg. S, 3.38%, 05/18/2032	EUR	4		5
Reg. S, 3.88%, 06/30/2025	EUR	80		89
Ryder System, Inc.,
5.65%, 03/01/2028		110		114
6.60%, 12/01/2033		371		412
United Parcel Service, Inc., 1.50%, 11/15/2032	EUR	1,125		1,089


				31,163

Trucking & Leasing — 0.0% (g)
Penske Truck Leasing Co. LP / PTL Finance Corp.,
4.40%, 07/01/2027 (e)		730		712
5.55%, 05/01/2028 (e)		1,135		1,154
5.75%, 05/24/2026 (e)		860		867
6.05%, 08/01/2028 (e)		660		685


				3,418

Total Industrial				320,677

Technology — 1.6%
Computers — 0.3%
Amdocs Ltd., (Guernsey), 2.54%, 06/15/2030		1,135		982
Apple, Inc.,
0.50%, 11/15/2031	EUR	6,000		5,642
1.38%, 05/24/2029	EUR	8,100		8,395
1.40%, 08/05/2028		830		736
1.63%, 11/10/2026	EUR	1,125		1,206
2.55%, 08/20/2060		15		10
2.65%, 05/11/2050		25		17
2.65%, 02/08/2051		30		21
2.85%, 08/05/2061		40		27
3.05%, 07/31/2029	GBP	425		525
3.75%, 09/12/2047		1,000		857
3.95%, 08/08/2052		98		86
4.10%, 08/08/2062		425		381
Capgemini SE, (France), Reg. S, 0.63%, 06/23/2025	EUR	100		106
CGI, Inc., (Canada),
1.45%, 09/14/2026		60		54
2.30%, 09/14/2031		580		475
Dell Bank International DAC, (Ireland),
Reg. S, 0.50%, 10/27/2026	EUR	1,000		1,021
Reg. S, 4.50%, 10/18/2027	EUR	1,000		1,151
Fortinet, Inc., 2.20%, 03/15/2031		190		159


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Computers — continued
Genpact Luxembourg Sarl, (Luxembourg), 3.38%, 12/01/2024		1,400		1,364
Hewlett Packard Enterprise Co., 6.10%, 04/01/2026		220		220
International Business Machines Corp.,
1.25%, 02/09/2034	EUR	1,000		924
2.20%, 02/09/2027		200		186
2.72%, 02/09/2032		100		88
3.30%, 05/15/2026		260		252
3.43%, 02/09/2052		200		149
3.50%, 05/15/2029		300		287
4.00%, 07/27/2025		300		297
4.50%, 02/06/2028		400		402
4.88%, 02/06/2038	GBP	1,000		1,262
4.90%, 07/27/2052		250		242
Kyndryl Holdings, Inc.,
2.05%, 10/15/2026		20		18
2.70%, 10/15/2028		51		45
4.10%, 10/15/2041		160		121
NetApp, Inc., 1.88%, 06/22/2025		1,700		1,617
Teledyne FLIR LLC, 2.50%, 08/01/2030		510		439
Western Digital Corp., 3.10%, 02/01/2032		74		59


				29,823

Office/Business & Equipment — 0.0% (g)
CDW LLC / CDW Finance Corp.,
2.67%, 12/01/2026		1,039		972
3.25%, 02/15/2029		329		301
3.28%, 12/01/2028		703		642
3.57%, 12/01/2031		742		657
4.13%, 05/01/2025		1,915		1,874
4.25%, 04/01/2028		12		12


				4,458

Semiconductors — 0.3%
Analog Devices, Inc.,
1.70%, 10/01/2028		200		178
3.45%, 06/15/2027		270		262
Applied Materials, Inc., 3.30%, 04/01/2027		55		53
ASML Holding NV, (Netherlands),
Reg. S, 0.25%, 02/25/2030	EUR	1,000		947
Reg. S, 0.63%, 05/07/2029	EUR	1,200		1,186
Reg. S, 1.38%, 07/07/2026	EUR	2,000		2,128
Reg. S, 1.63%, 05/28/2027	EUR	2,750		2,916
Reg. S, 2.25%, 05/17/2032	EUR	5,000		5,339
Broadcom, Inc.,
3.14%, 11/15/2035 (e)		4,085		3,362
3.19%, 11/15/2036 (e)		2,170		1,761
3.42%, 04/15/2033 (e)		293		258
3.47%, 04/15/2034 (e)		100		87


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Semiconductors — continued
3.50%, 02/15/2041 (e)		635		505
3.75%, 02/15/2051 (e)		65		51
4.00%, 04/15/2029 (e)		475		459
4.11%, 09/15/2028		410		401
4.93%, 05/15/2037 (e)		400		388
Infineon Technologies AG, (Germany),
Reg. S, 0.63%, 02/17/2025	EUR	2,000		2,133
Reg. S, 1.13%, 06/24/2026	EUR	1,400		1,469
Reg. S, 1.63%, 06/24/2029	EUR	1,000		1,023
Intel Corp.,
4.88%, 02/10/2028		300		305
5.63%, 02/10/2043		225		241
5.70%, 02/10/2053		615		667
5.90%, 02/10/2063		295		331
Marvell Technology, Inc.,
5.75%, 02/15/2029		277		287
5.95%, 09/15/2033		129		137
Microchip Technology, Inc., 4.25%, 09/01/2025		3,680		3,625
Micron Technology, Inc., 6.75%, 11/01/2029		100		108
NVIDIA Corp., 3.70%, 04/01/2060		10		8
NXP BV / NXP Funding LLC / NXP USA, Inc., (Multinational),
3.40%, 05/01/2030		1,000		920
3.88%, 06/18/2026		590		575
NXP BV / NXP Funding LLC, (Multinational), 4.88%, 03/01/2024		95		95
Skyworks Solutions, Inc., 3.00%, 06/01/2031		340		292
Texas Instruments, Inc.,
1.75%, 05/04/2030		59		51
2.70%, 09/15/2051		260		177
4.15%, 05/15/2048		17		16


				32,741

Software — 1.0%
Adobe, Inc., 2.30%, 02/01/2030		288		258
Electronic Arts, Inc.,
1.85%, 02/15/2031		277		231
2.95%, 02/15/2051		301		214
Fidelity National Information Services, Inc.,
3.10%, 03/01/2041		180		134
3.36%, 05/21/2031	GBP	100		116
Fiserv, Inc.,
3.00%, 07/01/2031	GBP	8,000		9,138
3.50%, 07/01/2029		170		160
4.40%, 07/01/2049		87		77
5.38%, 08/21/2028		1,805		1,859
5.45%, 03/02/2028		360		371
5.60%, 03/02/2033		415		433
5.63%, 08/21/2033		2,327		2,442


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Software — continued
Intuit, Inc.,
1.65%, 07/15/2030		1,258		1,058
5.20%, 09/15/2033		100		105
5.50%, 09/15/2053		200		219
Microsoft Corp.,
2.50%, 09/15/2050 (e)		70		48
2.53%, 06/01/2050		1,265		868
2.68%, 06/01/2060		535		358
3.04%, 03/17/2062		30		22
3.13%, 12/06/2028	EUR	10,005		11,351
Oracle Corp.,
1.65%, 03/25/2026		155		145
2.30%, 03/25/2028		900		821
2.65%, 07/15/2026		250		237
2.95%, 04/01/2030		495		447
3.60%, 04/01/2050		1,365		1,015
3.65%, 03/25/2041		500		399
3.85%, 04/01/2060		51		37
3.90%, 05/15/2035		285		255
3.95%, 03/25/2051		270		212
4.00%, 07/15/2046		475		382
4.10%, 03/25/2061		490		375
4.30%, 07/08/2034		309		289
4.65%, 05/06/2030		115		115
5.55%, 02/06/2053		670		673
6.90%, 11/09/2052		745		875
Roper Technologies, Inc.,
1.75%, 02/15/2031		137		113
2.00%, 06/30/2030		77		66
2.95%, 09/15/2029		2		2
4.20%, 09/15/2028		347		341
Sage Group plc (The), (United Kingdom),
Reg. S, 1.63%, 02/25/2031	GBP	2,000		2,087
Reg. S, 2.88%, 02/08/2034	GBP	2,500		2,680
Reg. S, 3.82%, 02/15/2028	EUR	35,200		39,954
SAP SE, (Germany),
Reg. S, 0.38%, 05/18/2029	EUR	7,000		6,869
Reg. S, 1.00%, 04/01/2025	EUR	50		54
Reg. S, 1.38%, 03/13/2030	EUR	7,500		7,661
Reg. S, 1.63%, 03/10/2031	EUR	5,000		5,150
ServiceNow, Inc., 1.40%, 09/01/2030		15		12
VMware LLC, 4.50%, 05/15/2025		235		233


				100,961

Total Technology				167,983

Utilities — 3.7%
Electric — 3.1%
A2A SpA, (Italy),
Reg. S, 1.00%, 07/16/2029	EUR	100		97
Reg. S, 1.00%, 11/02/2033	EUR	100		85
Reg. S, 1.63%, 10/19/2027	EUR	200		209
Reg. S, 4.38%, 02/03/2034	EUR	100		115


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
ACEA SpA, (Italy),
Reg. S, 0.50%, 04/06/2029	EUR	100		96
Reg. S, 1.75%, 05/23/2028	EUR	130		135
Reg. S, 3.88%, 01/24/2031	EUR	200		227
AEP Texas, Inc.,
3.45%, 05/15/2051		10		7
4.70%, 05/15/2032		885		866
5.25%, 05/15/2052		10		10
Series I, 2.10%, 07/01/2030		2,600		2,185
AES Corp. (The), 2.45%, 01/15/2031		125		105
Alabama Power Co.,
3.00%, 03/15/2052		60		42
3.75%, 09/01/2027		310		304
Alliander NV, (Netherlands), Reg. S, 2.63%, 09/09/2027	EUR	400		439
Ameren Corp.,
2.50%, 09/15/2024		30		29
3.50%, 01/15/2031		10		9
Ameren Illinois Co.,
1.55%, 11/15/2030		30		24
3.25%, 03/15/2050		1,200		888
4.95%, 06/01/2033		10		10
5.90%, 12/01/2052		20		23
American Electric Power Co., Inc.,
2.03%, 03/15/2024		90		89
2.30%, 03/01/2030		25		22
3.25%, 03/01/2050		20		14
5.95%, 11/01/2032		120		128
Amprion GmbH, (Germany),
Reg. S, 0.63%, 09/23/2033	EUR	1,500		1,281
Reg. S, 3.97%, 09/22/2032	EUR	800		920
Appalachian Power Co.,
Series BB, 4.50%, 08/01/2032		150		144
Series Y, 4.50%, 03/01/2049		20		17
Series Z, 3.70%, 05/01/2050		45		34
Arizona Public Service Co.,
2.20%, 12/15/2031		100		81
2.60%, 08/15/2029		84		75
3.35%, 05/15/2050		60		43
4.25%, 03/01/2049		10		8
5.55%, 08/01/2033		1,375		1,423
Atlantic City Electric Co., 4.00%, 10/15/2028		50		49
Baltimore Gas and Electric Co.,
2.90%, 06/15/2050		50		34
4.55%, 06/01/2052		300		276
5.40%, 06/01/2053		50		52
Berkshire Hathaway Energy Co.,
1.65%, 05/15/2031		400		321
2.85%, 05/15/2051		420		285
3.70%, 07/15/2030		20		19
4.25%, 10/15/2050		15		13
4.60%, 05/01/2053		55		49
5.15%, 11/15/2043		60		59


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
Black Hills Corp.,
2.50%, 06/15/2030		100		84
3.05%, 10/15/2029		20		18
3.88%, 10/15/2049		10		7
CenterPoint Energy Houston Electric LLC,
5.20%, 10/01/2028		40		41
5.30%, 04/01/2053		50		53
Series AD, 2.90%, 07/01/2050		45		32
Series AF, 3.35%, 04/01/2051		10		7
Series AH, 3.60%, 03/01/2052		10		8
Series AJ, 4.85%, 10/01/2052		100		98
CenterPoint Energy, Inc.,
2.95%, 03/01/2030		45		40
4.25%, 11/01/2028		3		3
CEZ A/S, (Czech Republic), Reg. S, 2.38%, 04/06/2027	EUR	1,425		1,511
Coentreprise de Transport d’Electricite SA, (France),
Reg. S, 1.50%, 07/29/2028	EUR	100		103
Reg. S, 2.13%, 07/29/2032	EUR	100		100
Commonwealth Edison Co.,
3.00%, 03/01/2050		55		39
3.70%, 08/15/2028		10		10
4.00%, 03/01/2048		25		21
4.00%, 03/01/2049		10		8
4.35%, 11/15/2045		980		860
5.30%, 02/01/2053		10		10
Series 131, 2.75%, 09/01/2051		440		285
Series 132, 3.15%, 03/15/2032		200		178
Connecticut Light and Power Co. (The), Series A, 2.05%, 07/01/2031		905		752
Consolidated Edison Co. of New York Inc, 5.90%, 11/15/2053		600		662
Consolidated Edison Co. of New York, Inc.,
3.20%, 12/01/2051		100		71
3.60%, 06/15/2061		210		158
3.85%, 06/15/2046		10		8
5.20%, 03/01/2033		100		104
6.15%, 11/15/2052		60		68
Series 09-C, 5.50%, 12/01/2039		10		10
Series 20A, 3.35%, 04/01/2030		70		66
Series 20B, 3.95%, 04/01/2050		55		46
Series A, 4.13%, 05/15/2049		20		17
Series C, 3.00%, 12/01/2060		20		13
Series E, 4.65%, 12/01/2048		10		9
Constellation Energy Generation LLC,
5.60%, 06/15/2042		70		70
5.80%, 03/01/2033		20		21
6.50%, 10/01/2053		50		57
Consumers Energy Co.,
2.50%, 05/01/2060		10		6
3.10%, 08/15/2050		30		22
3.25%, 08/15/2046		1,100		868
3.75%, 02/15/2050		25		21
4.20%, 09/01/2052		200		177


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
Dominion Energy South Carolina, Inc.,
4.60%, 06/15/2043		1,400		1,281
6.25%, 10/15/2053		535		618
Dominion Energy, Inc.,
3.90%, 10/01/2025		220		216
4.25%, 06/01/2028		20		20
Series A, 4.35%, 08/15/2032		200		193
Series A, 4.60%, 03/15/2049		10		9
Series B, 4.85%, 08/15/2052		245		226
Series C, 3.38%, 04/01/2030		20		18
DTE Electric Co.,
2.95%, 03/01/2050		25		17
3.70%, 03/15/2045		1,100		899
3.95%, 03/01/2049		10		8
Series B, 3.25%, 04/01/2051		130		96
DTE Energy Co.,
2.85%, 10/01/2026		250		236
Series C, 3.40%, 06/15/2029		19		18
Duke Energy Carolinas LLC,
3.55%, 03/15/2052		60		46
3.95%, 11/15/2028		40		39
4.95%, 01/15/2033		130		133
5.30%, 02/15/2040		10		10
5.35%, 01/15/2053		65		67
5.40%, 01/15/2054		20		21
Duke Energy Corp.,
0.90%, 09/15/2025		40		37
2.45%, 06/01/2030		110		96
2.55%, 06/15/2031		10		9
2.65%, 09/01/2026		30		29
3.10%, 06/15/2028	EUR	2,150		2,338
3.50%, 06/15/2051		10		7
3.75%, 09/01/2046		10		8
3.85%, 06/15/2034	EUR	2,200		2,400
4.20%, 06/15/2049		20		16
4.30%, 03/15/2028		100		99
4.50%, 08/15/2032		450		436
5.00%, 08/15/2052		170		159
6.10%, 09/15/2053		30		33
Duke Energy Florida LLC,
3.00%, 12/15/2051		20		14
4.20%, 07/15/2048		10		8
Duke Energy Indiana LLC,
2.75%, 04/01/2050		20		13
5.40%, 04/01/2053		20		21
Series YYY, 3.25%, 10/01/2049		40		29
Duke Energy Ohio, Inc.,
2.13%, 06/01/2030		30		26
3.65%, 02/01/2029		10		10
4.30%, 02/01/2049		80		68
Duke Energy Progress LLC,
3.40%, 04/01/2032		290		262
4.00%, 04/01/2052		150		124


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
E.ON International Finance BV, (Netherlands),
Reg. S, 5.88%, 10/30/2037	GBP	1,000		1,361
Reg. S, 6.13%, 07/06/2039	GBP	650		904
E.ON SE, (Germany),
Reg. S, 1.00%, 10/07/2025	EUR	100		106
Reg. S, 3.50%, 01/12/2028	EUR	11,000		12,419
EDP — Energias de Portugal SA, (Portugal), Reg. S, 1.63%, 04/15/2027	EUR	200		211
EDP Finance BV, (Netherlands), Reg. S, 2.00%, 04/22/2025	EUR	1,300		1,408
Electricite de France SA, (France),
Reg. S, 1.00%, 10/13/2026	EUR	600		627
Reg. S, 1.00%, 11/29/2033	EUR	100		87
Reg. S, 1.88%, 10/13/2036	EUR	200		177
Reg. S, 2.00%, 12/09/2049	EUR	700		512
Reg. S, 4.25%, 01/25/2032	EUR	400		463
Reg. S, 4.63%, 01/25/2043	EUR	100		116
Reg. S, 4.75%, 10/12/2034	EUR	1,600		1,905
Reg. S, 5.13%, 09/22/2050	GBP	800		944
Reg. S, 5.50%, 03/27/2037	GBP	500		631
Reg. S, 5.50%, 10/17/2041	GBP	1,000		1,249
5.88%, 07/18/2031	GBP	465		626
Reg. S, 6.00%, 01/23/2114	GBP	600		745
Reg. S, 6.13%, 06/02/2034	GBP	600		814
Reg. S, 6.25%, 05/30/2028	GBP	3,000		4,060
Elia Transmission Belgium SA, (Belgium), Reg. S, 3.63%, 01/18/2033	EUR	5,400		6,155
Emera US Finance LP, 2.64%, 06/15/2031		110		90
EnBW Energie Baden-Wuerttemberg AG, (Germany),
Reg. S, (EUR Swap Rate 5 Year + 1.65%), 1.38%, 08/31/2081 (aa)	EUR	100		94
Reg. S, (ICE EUR IBOR Swap Rate 5 Year + 1.73%), 1.63%, 08/05/2079 (aa)	EUR	100		99
Reg. S, (EUR Swap Rate 5 Year + 2.32%), 1.88%, 06/29/2080 (aa)	EUR	100		103
EnBW International Finance BV, (Netherlands),
Reg. S, 0.13%, 03/01/2028	EUR	182		181
Reg. S, 0.50%, 03/01/2033	EUR	97		83
Reg. S, 0.63%, 04/17/2025	EUR	200		213
Reg. S, 3.50%, 07/24/2028	EUR	120		135
Reg. S, 4.00%, 01/24/2035	EUR	100		114
Reg. S, 4.05%, 11/22/2029	EUR	200		231
Reg. S, 6.13%, 07/07/2039	EUR	40		57
Enel Finance International NV, (Netherlands),
Reg. S, 0.00%, 05/28/2026	EUR	3,000		3,071
Reg. S, 0.00%, 06/17/2027	EUR	627		624
Reg. S, 0.25%, 11/17/2025	EUR	2,000		2,089
Reg. S, 0.38%, 06/17/2027	EUR	1,000		1,005


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
Reg. S, 0.38%, 05/28/2029	EUR	10,000		9,503
Reg. S, 0.50%, 06/17/2030	EUR	3,000		2,773
Reg. S, 0.88%, 01/17/2031	EUR	8,500		7,913
Reg. S, 0.88%, 09/28/2034	EUR	5,000		4,151
Reg. S, 0.88%, 06/17/2036	EUR	8,700		6,858
Reg. S, 1.00%, 09/16/2024	EUR	1,000		1,082
Reg. S, 1.25%, 01/17/2035	EUR	741		642
Reg. S, 1.50%, 07/21/2025	EUR	2,980		3,194
2.65%, 09/10/2024 (e)		3,500		3,417
3.50%, 04/06/2028 (e)		1,300		1,219
Reg. S, 3.88%, 03/09/2029	EUR	422		481
Reg. S, 4.50%, 02/20/2043	EUR	4,000		4,544
Enel SpA, (Italy),
Reg. S, 5.63%, 06/21/2027	EUR	2,000		2,379
Series 635, Reg. S, (EUR Swap Rate 5 Year + 2.58%), 3.38%, 08/24/2026 (x) (aa)	EUR	5,000		5,251
e-netz Suedhessen AG, (Germany), 6.13%, 04/23/2041	EUR	20		28
Enexis Holding NV, (Netherlands),
Reg. S, 0.38%, 04/14/2033	EUR	200		176
Reg. S, 0.75%, 07/02/2031	EUR	134		127
Reg. S, 0.88%, 04/28/2026	EUR	100		105
Engie SA, (France),
Reg. S, 0.38%, 06/21/2027	EUR	1,000		1,008
Reg. S, 0.38%, 10/26/2029	EUR	1,000		944
Reg. S, 0.50%, 10/24/2030	EUR	2,000		1,844
Reg. S, 1.00%, 10/26/2036	EUR	1,000		821
Reg. S, 1.38%, 03/27/2025	EUR	1,000		1,077
Reg. S, (EUR Swap Rate 5 Year + 1.88%), 1.50%, 05/30/2028 (x) (aa)	EUR	3,000		2,915
Reg. S, (EUR Swap Rate 5 Year + 1.84%), 1.63%, 04/08/2025 (x) (aa)	EUR	1,000		1,060
Reg. S, 1.75%, 03/27/2028	EUR	3,000		3,142
Reg. S, 1.88%, 09/19/2033	EUR	2,600		2,535
Reg. S, 2.00%, 09/28/2037	EUR	1,000		918
Reg. S, 2.38%, 05/19/2026	EUR	3,000		3,245
Reg. S, (EUR Swap Rate 5 Year + 3.17%), 3.25%, 11/28/2024 (x) (aa)	EUR	1,800		1,957
Reg. S, 3.75%, 09/06/2027	EUR	2,000		2,252
Reg. S, 5.00%, 10/01/2060	GBP	4,000		5,024
Reg. S, 7.00%, 10/30/2028	GBP	2,000		2,832
Entergy Arkansas LLC, 4.20%, 04/01/2049		10		9
Entergy Corp., 0.90%, 09/15/2025		230		214
3.75%, 06/15/2050		30		23
Entergy Louisiana LLC, 1.60%, 12/15/2030		2,300		1,847
2.35%, 06/15/2032		30		25
2.90%, 03/15/2051		30		20


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
3.12%, 09/01/2027		2,500		2,359
3.25%, 04/01/2028		10		9
4.20%, 09/01/2048		10		8
Entergy Texas, Inc., 4.00%, 03/30/2029		15		14
5.00%, 09/15/2052		200		191
5.80%, 09/01/2053		10		11
ESB Finance DAC, (Ireland),
Reg. S, 1.13%, 06/11/2030	EUR	100		98
Reg. S, 1.88%, 06/14/2031	EUR	224		227
Reg. S, 2.13%, 06/08/2027	EUR	100		106
Reg. S, 3.75%, 01/25/2043	EUR	100		109
Evergy Kansas Central, Inc.,
3.45%, 04/15/2050		55		40
5.90%, 11/15/2033		40		43
Evergy Metro, Inc., 4.20%, 03/15/2048		10		8
Series 2019, 4.13%, 04/01/2049		20		17
Series 2020, 2.25%, 06/01/2030		150		128
Evergy, Inc., 2.45%, 09/15/2024		3,000		2,932
Eversource Energy, 3.38%, 03/01/2032		300		266
3.45%, 01/15/2050		30		22
4.20%, 06/27/2024		85		84
4.60%, 07/01/2027		100		99
Series R, 1.65%, 08/15/2030		1,410		1,146
EWE AG, (Germany), Reg. S, 0.38%, 10/22/2032	EUR	90		77
Exelon Corp., 2.75%, 03/15/2027		200		188
4.05%, 04/15/2030		10		10
4.10%, 03/15/2052		20		16
4.45%, 04/15/2046		10		9
4.70%, 04/15/2050		10		9
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e)		1,100		1,082
Florida Power & Light Co., 2.45%, 02/03/2032		200		172
2.88%, 12/04/2051		295		205
3.15%, 10/01/2049		20		15
3.95%, 03/01/2048		500		426
4.13%, 06/01/2048		20		18
5.30%, 04/01/2053		120		126
FLUVIUS System Operator CVBA, (Belgium),
Reg. S, 0.63%, 11/24/2031	EUR	100		90
Reg. S, 3.88%, 05/09/2033	EUR	3,500		3,993
Reg. S, 4.00%, 07/06/2032	EUR	200		230
Fortum OYJ, (Finland),
Reg. S, 2.13%, 02/27/2029	EUR	100		104
Reg. S, 4.50%, 05/26/2033	EUR	200		234
Georgia Power Co., 4.70%, 05/15/2032		2,350		2,344
5.13%, 05/15/2052		162		161
Series A, 3.25%, 03/15/2051		20		15
Series B, 3.70%, 01/30/2050		60		47
Hera SpA, (Italy),
Reg. S, 0.25%, 12/03/2030	EUR	160		142
Reg. S, 1.00%, 04/25/2034	EUR	200		172


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
Iberdrola Finanzas SA, (Spain),
Reg. S, 1.25%, 10/28/2026	EUR	2,000		2,119
Reg. S, 3.63%, 07/13/2033	EUR	7,500		8,573
Iberdrola International BV, (Netherlands),
Series NC5, Reg. S, (EUR Swap Rate 5 Year + 2.32%), 1.87%, 01/28/2026 (x) (aa)	EUR	3,000		3,117
Series NC8, Reg. S, (EUR Swap Rate 5 Year + 2.57%), 2.25%, 01/28/2029 (x) (aa)	EUR	2,000		1,967
Idaho Power Co., 5.80%, 04/01/2054		75		80
Ignitis Grupe AB, (Lithuania), Reg. S, 2.00%, 05/21/2030	EUR	110		106
Interstate Power and Light Co., 3.50%, 09/30/2049		110		82
Iren SpA, (Italy), Reg. S, 1.00%, 07/01/2030	EUR	550		517
ITC Holdings Corp., 4.95%, 09/22/2027 (e)		1,170		1,177
Kentucky Utilities Co., 3.30%, 06/01/2050		25		18
MidAmerican Energy Co., 2.70%, 08/01/2052		15		10
3.10%, 05/01/2027		10		10
5.85%, 09/15/2054		30		33
6.75%, 12/30/2031		10		11
Mississippi Power Co., Series B, 3.10%, 07/30/2051		40		27
National Grid Electricity Distribution East Midlands plc, (United Kingdom),
Reg. S, 3.53%, 09/20/2028	EUR	3,000		3,361
Reg. S, 3.95%, 09/20/2032	EUR	2,000		2,270
Reg. S, 6.25%, 12/10/2040	GBP	1,000		1,428
National Grid Electricity Distribution South Wales plc, (United Kingdom), Series WALE, 5.75%, 03/23/2040	GBP	2,000		2,711
National Grid Electricity Distribution South West plc, (United Kingdom), Reg. S, 5.88%, 03/25/2027	GBP	20		26
National Grid Electricity Transmission plc, (United Kingdom),
Reg. S, 0.19%, 01/20/2025	EUR	1,000		1,065
Reg. S, 2.00%, 04/17/2040	GBP	425		357
National Grid plc, (United Kingdom),
Reg. S, 0.25%, 09/01/2028	EUR	1,000		963
Reg. S, 0.55%, 09/18/2029	EUR	3,075		2,916
Reg. S, 2.18%, 06/30/2026	EUR	3,925		4,212
National Rural Utilities Cooperative Finance Corp., 1.00%, 06/15/2026		200		183
1.35%, 03/15/2031		230		181
3.45%, 06/15/2025		110		108
4.30%, 03/15/2049		20		17
5.80%, 01/15/2033		30		32


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
Naturgy Finance BV, (Netherlands),
Reg. S, 0.75%, 11/28/2029	EUR	1,200		1,166
Reg. S, 0.88%, 05/15/2025	EUR	1,000		1,064
Reg. S, 1.25%, 01/15/2026	EUR	3,900		4,126
Reg. S, 1.25%, 04/19/2026	EUR	1,000		1,057
Reg. S, 1.38%, 01/19/2027	EUR	1,200		1,256
Reg. S, 1.50%, 01/29/2028	EUR	1,200		1,246
Reg. S, 1.88%, 10/05/2029	EUR	1,000		1,026
Nevada Power Co., 6.00%, 03/15/2054		35		39
Series DD, 2.40%, 05/01/2030		30		26
Series EE, 3.13%, 08/01/2050		30		21
NextEra Energy Capital Holdings, Inc., 2.25%, 06/01/2030		1,280		1,096
2.75%, 11/01/2029		35		31
3.00%, 01/15/2052		100		67
4.26%, 09/01/2024		230		228
4.63%, 07/15/2027		200		200
5.25%, 02/28/2053		850		838
5.75%, 09/01/2025		60		61
6.05%, 03/01/2025		610		615
NIE Finance plc, (United Kingdom), Reg. S, 5.88%, 12/01/2032	GBP	100		138
Northern Powergrid Yorkshire plc, (United Kingdom), Reg. S, 5.13%, 05/04/2035	GBP	150		195
Northern States Power Co., 2.25%, 04/01/2031		1,450		1,247
2.60%, 06/01/2051		35		23
3.20%, 04/01/2052		30		22
4.50%, 06/01/2052		10		9
5.10%, 05/15/2053		40		40
NRG Energy, Inc., 2.00%, 12/02/2025 (e)		2,150		2,014
2.45%, 12/02/2027 (e)		2,275		2,052
NSTAR Electric Co., 3.10%, 06/01/2051		30		21
4.55%, 06/01/2052		470		429
4.95%, 09/15/2052		60		59
Oglethorpe Power Corp., 5.05%, 10/01/2048		90		83
Ohio Power Co., Series R, 2.90%, 10/01/2051		15		10
Oklahoma Gas and Electric Co., 4.15%, 04/01/2047		920		767
5.60%, 04/01/2053		10		11
Oncor Electric Delivery Co. LLC, 3.10%, 09/15/2049		50		36
3.70%, 05/15/2050		5		4
4.30%, 05/15/2028 (e)		140		138
4.60%, 06/01/2052		15		14
4.95%, 09/15/2052		150		148
5.65%, 11/15/2033 (e)		10		11
Origin Energy Finance Ltd., (Australia), Reg. S, 1.00%, 09/17/2029	EUR	2,460		2,363


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALU($)


Electric — continued
Orsted A/S, (Denmark),
Reg. S, 2.13%, 05/17/2027	GBP	5,000		5,877
Reg. S, 2.25%, 06/14/2028	EUR	1,000		1,060
Reg. S, 5.75%, 04/09/2040	GBP	425		565
Pacific Gas and Electric Co., 3.15%, 01/01/2026		335		321
3.25%, 06/01/2031		40		35
3.50%, 08/01/2050		40		28
3.75%, 07/01/2028		10		9
3.95%, 12/01/2047		900		663
4.50%, 07/01/2040		230		195
4.55%, 07/01/2030		30		29
4.95%, 07/01/2050		420		360
5.25%, 03/01/2052		100		89
6.70%, 04/01/2053		20		22
6.75%, 01/15/2053		50		55
6.95%, 03/15/2034		90		99
PacifiCorp., 2.90%, 06/15/2052		740		478
3.30%, 03/15/2051		1,750		1,214
4.13%, 01/15/2049		165		134
4.15%, 02/15/2050		120		97
5.35%, 12/01/2053		5		5
5.50%, 05/15/2054		110		108
PECO Energy Co., 2.80%, 06/15/2050		50		34
3.05%, 03/15/2051		435		309
4.60%, 05/15/2052		385		363
4.90%, 06/15/2033		1,680		1,706
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, (Indonesia), Reg. S, 1.88%, 11/05/2031	EUR	1,000		897
PPL Capital Funding, Inc., 4.13%, 04/15/2030		330		315
PPL Electric Utilities Corp., 5.25%, 05/15/2053		80		83
Public Service Co. of Colorado, 5.25%, 04/01/2053		50		50
Series 36, 2.70%, 01/15/2051		10		6
Series 38, 4.10%, 06/01/2032		200		192
Series 39, 4.50%, 06/01/2052		160		141
Public Service Electric and Gas Co., 1.90%, 08/15/2031		35		29
2.05%, 08/01/2050		60		35
2.45%, 01/15/2030		20		18
3.10%, 03/15/2032		300		268
3.65%, 09/01/2028		120		116
3.85%, 05/01/2049		10		8
4.65%, 03/15/2033		100		100
Puget Energy, Inc., 2.38%, 06/15/2028		1,040		931
4.10%, 06/15/2030		10		9
4.22%, 03/15/2032		200		181


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
Puget Sound Energy, Inc., 2.89%, 09/15/2051		10		7
3.25%, 09/15/2049		20		14
Red Electrica Financiaciones SAU, (Spain), Reg. S, 1.13%, 04/24/2025	EUR	200		215
Ren Finance BV, (Netherlands),
Reg. S, 0.50%, 04/16/2029	EUR	1,000		968
Reg. S, 1.75%, 01/18/2028		EUR 1,000		1,047
RTE Reseau de Transport d’Electricite SADIR, (France),
Reg. S, 0.75%, 01/12/2034	EUR	100		89
Reg. S, 1.13%, 07/08/2040	EUR	200		160
Reg. S, 1.13%, 09/09/2049	EUR	100		72
Reg. S, 1.50%, 09/27/2030	EUR	100		101
Reg. S, 1.63%, 11/27/2025	EUR	300		322
Reg. S, 2.00%, 04/18/2036	EUR	100		95
Reg. S, 3.75%, 07/04/2035	EUR	100		115
RWE AG, (Germany),
Reg. S, 2.13%, 05/24/2026	EUR	2,000		2,159
Reg. S, 2.75%, 05/24/2030	EUR	2,000		2,136
Reg. S, 4.13%, 02/13/2035	EUR	2,225		2,551
San Diego Gas & Electric Co., 4.15%, 05/15/2048		820		702
Series WWW, 2.95%, 08/15/2051		25		18
Series XXX, 3.00%, 03/15/2032		310		275
Scottish Hydro Electric Transmission plc, (United Kingdom), Reg. S, 2.13%, 03/24/2036	GBP	1,500		1,442
Sempra, 3.40%, 02/01/2028		10		10
3.70%, 04/01/2029		100		95
4.00%, 02/01/2048		10		8
5.50%, 08/01/2033		70		73
Sierra Pacific Power Co., 2.60%, 05/01/2026		100		95
Southern California Edison Co., 2.75%, 02/01/2032		100		86
2.85%, 08/01/2029		10		9
3.45%, 02/01/2052		310		227
3.65%, 02/01/2050		80		62
4.00%, 04/01/2047		20		16
4.05%, 03/15/2042		900		762
5.88%, 12/01/2053		50		54
6.05%, 03/15/2039		10		11
Series 20A, 2.95%, 02/01/2051		6		4
Series B, 3.65%, 03/01/2028		25		24
Series E, 3.70%, 08/01/2025		10		10
Series H, 3.65%, 06/01/2051		10		8
Southern Co. (The), 5.20%, 06/15/2033		170		174
5.70%, 10/15/2032		100		105
5.70%, 03/15/2034		5		5
Series 21-A, 0.60%, 02/26/2024		60		59


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
Series 21-A, (CMT Index 5 Year + 2.92%), 3.75%, 09/15/2051 (aa)		90		82
Series A, 3.70%, 04/30/2030		95		90
Southwestern Electric Power Co., 3.25%, 11/01/2051		325		220
5.30%, 04/01/2033		90		90
Series N, 1.65%, 03/15/2026		50		47
Southwestern Public Service Co., 3.70%, 08/15/2047		1,000		763
Series 8, 3.15%, 05/01/2050		60		41
SP Transmission plc, (United Kingdom), Reg. S, 2.00%, 11/13/2031	GBP	100		109
SSE plc, (United Kingdom),
Reg. S, 0.88%, 09/06/2025	EUR	2,000		2,120
Reg. S, 1.25%, 04/16/2025	EUR	1,000		1,071
Reg. S, 1.38%, 09/04/2027	EUR	3,000		3,130
Reg. S, 6.25%, 08/27/2038	GBP	3,000		4,283
State Grid Overseas Investment BVI Ltd., (British Virgin Islands), Reg. S, 1.30%, 08/05/2032	EUR	500		440
Statkraft A/S, (Norway), Reg. S, 1.50%, 03/26/2030	EUR	5,000		5,065
Stedin Holding NV, (Netherlands),
Reg. S, 0.88%, 10/24/2025	EUR	100		106
Reg. S, 1.38%, 09/19/2028	EUR	200		204
Reg. S, 2.38%, 06/03/2030	EUR	200		210
System Energy Resources, Inc., 6.00%, 04/15/2028		270		276
Tampa Electric Co., 4.30%, 06/15/2048		120		101
Tauron Polska Energia SA, (Poland), Reg. S, 2.38%, 07/05/2027	EUR	3,550		3,636
TenneT Holding BV, (Netherlands),
Reg. S, 0.88%, 06/03/2030	EUR	120		122
Reg. S, 1.00%, 06/13/2026	EUR	200		213
Reg. S, 1.13%, 06/09/2041	EUR	100		90
Reg. S, 1.38%, 06/26/2029	EUR	100		104
Reg. S, 1.63%, 11/17/2026	EUR	450		485
Reg. S, 2.00%, 06/05/2034	EUR	100		100
Reg. S, 2.75%, 05/17/2042	EUR	100		102
Reg. S, 4.50%, 10/28/2034	EUR	500		612
Reg. S, 4.75%, 10/28/2042	EUR	100		127
Terna—Rete Elettrica Nazionale, (Italy),
Reg. S, 0.13%, 07/25/2025	EUR	3,900		4,084
Reg. S, 0.38%, 09/25/2030	EUR	825		753
Reg. S, 0.75%, 07/24/2032	EUR	200		180
Reg. S, 1.00%, 04/10/2026	EUR	4,000		4,209
Reg. S, 1.00%, 10/11/2028	EUR	1,000		1,006
Reg. S, 1.38%, 07/26/2027	EUR	2,125		2,209
Tucson Electric Power Co., 1.50%, 08/01/2030		30		24
3.25%, 05/01/2051		10		7
4.00%, 06/15/2050		10		8
5.50%, 04/15/2053		30		31


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
Union Electric Co., 2.15%, 03/15/2032		50		42
2.63%, 03/15/2051		10		6
3.25%, 10/01/2049		40		28
3.90%, 04/01/2052		250		207
Vattenfall AB, (Sweden), Reg. S, 3.75%, 10/18/2026	EUR	6,000		6,733
Verbund AG, (Austria), Reg. S, 0.90%, 04/01/2041	EUR	100		79
Virginia Electric and Power Co., 3.30%, 12/01/2049		50		37
5.45%, 04/01/2053		50		52
Series B, 3.80%, 09/15/2047		60		48
Series C, 4.63%, 05/15/2052		60		54
Vistra Operations Co. LLC, 3.55%, 07/15/2024 (e)		1,400		1,380
WEC Energy Group, Inc., 3.55%, 06/15/2025		47		46
5.00%, 09/27/2025		300		299
Wisconsin Electric Power Co., 1.70%, 06/15/2028		10		9
Wisconsin Power and Light Co., 3.00%, 07/01/2029		50		46
Wisconsin Public Service Corp., 2.85%, 12/01/2051		20		14
3.30%, 09/01/2049		55		40
Xcel Energy, Inc., 1.75%, 03/15/2027		100		91
3.40%, 06/01/2030		20		19
3.50%, 12/01/2049		20		15
4.60%, 06/01/2032		165		161

				316,811

Gas — 0.5%
APA Infrastructure Ltd., (Australia),
Reg. S, 0.75%, 03/15/2029	EUR	4,800		4,608
Reg. S, 1.25%, 03/15/2033	EUR	3,900		3,470
Reg. S, 2.00%, 03/22/2027	EUR	2,000		2,108
Reg. S, 2.00%, 07/15/2030	EUR	1,000		994
Reg. S, 3.50%, 03/22/2030	GBP	2,430		2,820
Atmos Energy Corp., 1.50%, 01/15/2031		1,630		1,328
2.63%, 09/15/2029		15		14
2.85%, 02/15/2052		5		3
3.38%, 09/15/2049		210		161
4.15%, 01/15/2043		10		9
5.75%, 10/15/2052		100		110
6.20%, 11/15/2053		20		23
Cadent Finance plc, (United Kingdom), Reg. S, 2.63%, 09/22/2038	GBP	1,725		1,589
CenterPoint Energy Resources Corp.,
4.40%, 07/01/2032		30		29
5.25%, 03/01/2028		150		154
Centrica plc, (United Kingdom), Reg. S, 4.25%, 09/12/2044	GBP	3,000		3,323


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Gas — continued
Italgas SpA, (Italy),
Reg. S, 1.00%, 12/11/2031	EUR	1,125		1,031
Reg. S, 1.13%, 03/14/2024	EUR	850		933
National Gas Transmission plc, (United Kingdom), Reg. S, 1.38%, 02/07/2031	GBP	1,600		1,613
National Grid North America, Inc.,
Reg. S, 0.41%, 01/20/2026	EUR	2,500		2,602
Reg. S, 1.00%, 07/12/2024	EUR	1,000		1,086
Nederlandse Gasunie NV, (Netherlands),
Reg. S, 0.75%, 10/13/2036	EUR	100		82
Reg. S, 3.38%, 07/11/2034	EUR	100		113
NiSource, Inc.,
0.95%, 08/15/2025		3,000		2,804
3.49%, 05/15/2027		130		125
3.60%, 05/01/2030		25		24
4.38%, 05/15/2047		15		13
4.80%, 02/15/2044		10		9
5.00%, 06/15/2052		110		103
5.40%, 06/30/2033		50		52
ONE Gas, Inc., 4.25%, 09/01/2032		120		115
Piedmont Natural Gas Co., Inc.,
2.50%, 03/15/2031		1,550		1,325
3.35%, 06/01/2050		15		11
5.05%, 05/15/2052		610		568
Redexis Gas Finance BV, (Netherlands), Reg. S, 1.88%, 05/28/2025	EUR	1,300		1,398
Snam SpA, (Italy),
Reg. S, 0.00%, 08/15/2025	EUR	2,000		2,094
Reg. S, 0.00%, 12/07/2028	EUR	500		473
Reg. S, 0.75%, 06/20/2029	EUR	3,175		3,057
Reg. S, 0.75%, 06/17/2030	EUR	1,500		1,406
Southern California Gas Co.,
Series VV, 4.30%, 01/15/2049		20		17
Series WW, 3.95%, 02/15/2050		200		159
Southern Co. Gas Capital Corp.,
3.95%, 10/01/2046		20		15
5.15%, 09/15/2032		100		102
5.75%, 09/15/2033		50		53
Series 20-A, 1.75%, 01/15/2031		3,700		3,029
Series 21A, 3.15%, 09/30/2051		15		10
Southern Gas Networks plc, (United Kingdom),
Reg. S, 2.50%, 02/03/2025	GBP	825		1,020
6.38%, 05/15/2040	GBP	825		1,142
Southwest Gas Corp.,
4.05%, 03/15/2032		125		117
4.15%, 06/01/2049		10		8
SPP-Distribucia A/S, (Slovakia), Reg. S, 1.00%, 06/09/2031	EUR	100		81
Vier Gas Transport GmbH, (Germany), Reg. S, 0.50%, 09/10/2034	EUR	1,200		975


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Gas — continued
Wales & West Utilities Finance plc, (United Kingdom), Reg. S, 1.88%, 05/28/2041	GBP	825		663
Washington Gas Light Co., 3.65%, 09/15/2049		10		8


				49,179

Water — 0.1%
Affinity Water Finance 2004 plc, (United Kingdom), 5.88%, 07/13/2026	GBP	30		39
American Water Capital Corp.,
4.15%, 06/01/2049		60		52
4.45%, 06/01/2032		330		327
Essential Utilities, Inc.,
2.40%, 05/01/2031		100		83
2.70%, 04/15/2030		40		35
5.30%, 05/01/2052		10		10
Northumbrian Water Finance plc, (United Kingdom),
Reg. S, 1.63%, 10/11/2026	GBP	825		961
Reg. S, 5.13%, 01/23/2042	GBP	1,000		1,211
Reg. S, 5.63%, 04/29/2033	GBP	425		556
Thames Water Utilities Finance plc, (United Kingdom),
Reg. S, 2.38%, 04/22/2040	GBP	300		234
Reg. S, 5.50%, 02/11/2041	GBP	1,050		1,187
6.75%, 11/16/2028	GBP	380		491
United Utilities Water Finance plc, (United Kingdom), Reg. S, 2.00%, 07/03/2033	GBP	900		913
Wessex Water Services Finance plc, (United Kingdom),
Reg. S, 1.50%, 09/17/2029	GBP	2,700		2,850
Reg. S, 5.38%, 03/10/2028	GBP	2,425		3,129


				12,078

Total Utilities				378,068

Total Corporate Bonds (Cost $4,208,151)				4,320,085

Foreign Government Securities — 31.6%
Action Logement Services, (France),
Reg. S, 0.38%, 10/05/2031	EUR	100		93
Reg. S, 3.13%, 09/28/2037	EUR	300		325
Reg. S, 3.63%, 05/25/2043	EUR	100		113
Reg. S, 4.13%, 10/03/2038	EUR	100		120
Adif Alta Velocidad, (Spain),
Reg. S, 0.55%, 04/30/2030	EUR	100		94
Reg. S, 0.95%, 04/30/2027	EUR	200		208
Reg. S, 1.88%, 01/28/2025	EUR	100		109
Reg. S, 3.50%, 07/30/2029	EUR	200		225


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)



Agence Francaise de Developpement EPIC, (France),
Reg. S, 0.13%, 09/29/2031	EUR	300		270
Reg. S, 0.25%, 07/21/2026	EUR	500		518
Reg. S, 0.25%, 06/29/2029	EUR	400		387
Reg. S, 0.38%, 05/25/2036	EUR	100		80
Reg. S, 0.50%, 05/25/2030	EUR	200		192
Reg. S, 0.50%, 05/31/2035	EUR	500		422
Reg. S, 1.50%, 10/31/2034	EUR	900		868
Reg. S, 1.63%, 05/25/2032	EUR	200		202
Reg. S, 3.38%, 05/25/2033	EUR	500		573
Reg. S, 3.50%, 02/25/2033	EUR	100		116
Agence France Locale, (France),
Reg. S, 0.00%, 09/20/2027	EUR	500		500
Reg. S, 0.00%, 03/20/2031	EUR	100		90
Reg. S, 0.13%, 06/20/2026	EUR	400		414
Reg. S, 1.13%, 06/20/2028	EUR	1,000		1,031
Reg. S, 3.63%, 06/20/2038	EUR	100		115
Agricultural Development Bank of China, (China),
2.91%, 02/21/2029	CNY	18,000		2,575
Reg. S, 3.40%, 11/06/2024	CNH	56,000		7,881
Reg. S, 3.80%, 10/27/2030	CNH	14,350		2,119
Series 1618, 3.58%, 04/22/2026	CNY	24,000		3,483
Series 1705, 3.85%, 01/06/2027	CNY	7,500		1,103
Series 1806, 4.65%, 05/11/2028	CNY	8,100		1,241
Series 1901, 3.75%, 01/25/2029	CNY	90,700		13,493
Series 1906, 3.74%, 07/12/2029	CNY	46,100		6,870
Series 1908, 3.63%, 07/19/2026	CNY	183,200		26,685
Series 2004, 2.96%, 04/17/2030	CNY	99,400		14,237
Series 2005, 2.25%, 04/22/2025	CNY	120,800		17,025
Series 2008, 3.45%, 09/23/2025	CNY	17,000		2,445
Series 2010, 3.79%, 10/26/2030	CNY	5,000		752
Series 2105, 3.52%, 05/24/2031	CNY	38,600		5,733
Series 2108, 2.99%, 08/11/2026	CNY	66,000		9,448
Series 2110, 3.30%, 11/05/2031	CNY	65,700		9,614
Series 2203, 2.61%, 03/09/2025	CNY	5,000		708
Series 2205, 3.06%, 06/06/2032	CNY	61,400		8,833
Series 2206, 2.46%, 07/27/2025	CNY	6,000		849
Series 2207, 2.50%, 08/24/2027	CNY	60,000		8,466
Series 2210, 2.97%, 10/14/2032	CNY	56,500		8,074
Series 2212, 2.60%, 12/01/2025	CNY	7,200		1,022
Series 2302, 2.58%, 03/23/2025	CNY	8,000		1,132
Series 2302, 3.10%, 02/27/2033	CNY	24,000		3,466
Series 2304, 2.72%, 03/16/2026	CNY	3,200		456
Series 2320, 2.85%, 10/20/2033	CNY	7,000		991
Andorra International Bond, (Andorra),
Reg. S, 1.25%, 02/23/2027	EUR	800		824
Reg. S, 1.25%, 05/06/2031	EUR	1,000		943
Auckland Council, (New Zealand),
Reg. S, 0.13%, 09/26/2029	EUR	200		191
Reg. S, 0.25%, 11/17/2031	EUR	200		181
Reg. S, 1.00%, 01/19/2027	EUR	300		315
Reg. S, 1.50%, 11/28/2025	CHF	300		357


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Australia Government Bond, (Australia),
Series 138, Reg. S, 3.25%, 04/21/2029	AUD	200		133
Series 139, Reg. S, 3.25%, 04/21/2025	AUD	1,475		997
Series 144, Reg. S, 3.75%, 04/21/2037	AUD	60		40
Series 149, Reg. S, 2.25%, 05/21/2028	AUD	1,340		863
Series 150, Reg. S, 3.00%, 03/21/2047	AUD	46		25
Series 152, Reg. S, 2.75%, 11/21/2028	AUD	428		280
Series 154, Reg. S, 2.75%, 11/21/2029	AUD	105		68
Series 155, Reg. S, 2.50%, 05/21/2030	AUD	3,465		2,193
Series 156, Reg. S, 2.75%, 05/21/2041	AUD	450		250
Series 157, Reg. S, 1.50%, 06/21/2031	AUD	50		29
Series 158, 1.25%, 05/21/2032	AUD	290		160
Series 160, Reg. S, 1.00%, 12/21/2030	AUD	200		113
Series 161, Reg. S, 0.25%, 11/21/2025	AUD	490		313
Series 162, Reg. S, 1.75%, 06/21/2051	AUD	360		145
Series 164, Reg. S, 0.50%, 09/21/2026	AUD	100		63
Series 165, Reg. S, 1.75%, 11/21/2032	AUD	220		126
Series 166, Reg. S, 3.00%, 11/21/2033	AUD	170		107
Series 167, Reg. S, 3.75%, 05/21/2034	AUD	40		27
Series 168, Reg. S, 3.50%, 12/21/2034	AUD	60		39
Series 169, Reg. S, 4.75%, 06/21/2054	AUD	30		22
Autobahnen- und Schnell- strassen-Finanzierungs AG, (Austria),
Reg. S, 0.10%, 07/09/2029	EUR	500		485
Reg. S, 2.75%, 06/11/2032	EUR	100		111
Reg. S, 2.75%, 06/20/2033	EUR	130		144
Autonomous Community of Andalusia Spain, (Spain),
Reg. S, 0.50%, 04/30/2031	EUR	363		333
Reg. S, 1.38%, 04/30/2029	EUR	30		31
Autonomous Community of Catalonia, (Spain), 4.22%, 04/26/2035	EUR	100		113
Autonomous Community of Madrid Spain, (Spain),
Reg. S, 0.42%, 04/30/2030	EUR	161		152
Reg. S, 1.57%, 04/30/2029	EUR	200		207
Reg. S, 1.72%, 04/30/2032	EUR	110		109
Reg. S, 1.77%, 04/30/2028	EUR	200		212
Reg. S, 1.83%, 04/30/2025	EUR	270		292
Reg. S, 2.82%, 10/31/2029	EUR	100		110
Reg. S, 3.60%, 04/30/2033	EUR	200		229
4.30%, 09/15/2026	EUR	500		572
Bangko Sentral ng Pilipinas International Bond, (Philippines), Series A, 8.60%, 06/15/2027		300		330
Basque Government, (Spain),
Reg. S, 0.25%, 04/30/2031	EUR	100		91
Reg. S, 0.45%, 04/30/2032	EUR	200		180
Reg. S, 0.85%, 04/30/2030	EUR	50		49
Reg. S, 1.75%, 03/16/2026	EUR	170		183
Reg. S, 3.50%, 04/30/2033	EUR	100		114
Bermuda Government International Bond, (Bermuda), 2.38%, 08/20/2030 (e)		670		573


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


BNG Bank NV, (Netherlands),
Reg. S, 0.00%, 01/20/2031	EUR	200		184
Reg. S, 0.10%, 01/15/2030	EUR	320		305
Reg. S, 0.13%, 04/11/2026	EUR	530		554
Reg. S, 0.13%, 04/19/2033	EUR	700		611
Reg. S, 0.13%, 07/09/2035	EUR	230		188
Reg. S, 0.38%, 12/15/2025	GBP	1,900		2,244
Reg. S, 0.75%, 01/11/2028	EUR	500		516
Reg. S, 0.81%, 06/28/2049	EUR	200		130
Reg. S, 0.88%, 10/17/2035	EUR	100		89
Reg. S, 0.88%, 10/24/2036	EUR	160		139
Reg. S, 1.25%, 03/30/2037	EUR	100		90
Reg. S, 1.50%, 03/29/2038	EUR	190		174
Reg. S, 1.50%, 07/15/2039	EUR	170		153
Reg. S, 1.88%, 07/13/2032	EUR	320		332
Reg. S, 2.75%, 10/04/2027	EUR	1,910		2,132
Reg. S, 3.00%, 02/23/2028	EUR	600		676
Reg. S, 3.00%, 01/11/2033	EUR	500		564
Reg. S, 3.50%, 09/27/2038	EUR	100		117
Bonos de la Tesoreria de la Republica en pesos, (Chile), Reg. S, 4.70%, 09/01/2030 (e)	CLP	300,000		334
Bpifrance SACA, (France),
Reg. S, 0.13%, 03/25/2025	EUR	400		425
Reg. S, 0.25%, 03/29/2030	EUR	200		190
Reg. S, 0.25%, 06/04/2031	EUR	200		185
Reg. S, 0.63%, 05/25/2026	EUR	500		526
Reg. S, 0.88%, 09/26/2028	EUR	200		204
Reg. S, 2.13%, 11/29/2027	EUR	200		217
Reg. S, 2.88%, 11/25/2029	EUR	500		559
Reg. S, 3.00%, 09/10/2026	EUR	200		223
Reg. S, 3.38%, 11/25/2032	EUR	200		232
Reg. S, 3.50%, 09/27/2027	EUR	200		227
Bulgaria Government International Bond, (Bulgaria),
Reg. S, 1.38%, 09/23/2050	EUR	1,300		870
Reg. S, 2.95%, 09/03/2024	EUR	800		877
Reg. S, 4.13%, 09/23/2029	EUR	1,000		1,134
Reg. S, 4.50%, 01/27/2033	EUR	6,000		6,947
Reg. S, 4.63%, 09/23/2034	EUR	1,000		1,171
Series 12YR, Reg. S, 3.00%, 03/21/2028	EUR	800		872
Bundesobligation, (Germany),
Series 181, Reg. S, 0.00%, 04/11/2025	EUR	3,890		4,147
Series 183, Reg. S, 0.00%, 04/10/2026	EUR	10,266		10,782
Series 184, Reg. S, 0.00%, 10/09/2026	EUR	500		521
Series 185, Reg. S, 0.00%, 04/16/2027	EUR	2,083		2,153
Series 186, Reg. S, 1.30%, 10/15/2027	EUR	250		269


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 187, Reg. S, 2.20%, 04/13/2028	EUR	3,120		3,477
Series 188, Reg. S, 2.40%, 10/19/2028	EUR	650		732
Bundesrepublik Deutschland Bundesanleihe, (Germany),
Reg. S, 0.00%, 08/15/2026	EUR	3,270		3,416
Reg. S, 0.00%, 11/15/2027	EUR	7,381		7,555
Reg. S, 0.00%, 11/15/2028	EUR	1,385		1,395
Reg. S, 0.00%, 08/15/2029	EUR	3,032		3,015
Reg. S, 0.00%, 02/15/2030	EUR	8,543		8,416
Reg. S, 0.00%, 08/15/2030	EUR	1,540		1,502
Reg. S, 0.00%, 02/15/2031	EUR	1,189		1,148
Reg. S, 0.00%, 08/15/2031	EUR	2,260		2,160
Reg. S, 0.00%, 02/15/2032	EUR	4,944		4,669
Reg. S, 0.00%, 05/15/2035	EUR	2,559		2,225
Reg. S, 0.00%, 05/15/2036	EUR	2,870		2,429
Reg. S, 0.00%, 08/15/2050	EUR	3,101		1,907
Reg. S, 0.00%, 08/15/2052	EUR	2,115		1,244
Reg. S, 0.25%, 02/15/2027	EUR	3,310		3,459
Reg. S, 0.25%, 08/15/2028	EUR	2,899		2,970
Reg. S, 0.25%, 02/15/2029	EUR	670		681
Reg. S, 0.50%, 02/15/2025	EUR	7,959		8,556
Reg. S, 0.50%, 02/15/2026	EUR	2,447		2,602
Reg. S, 0.50%, 08/15/2027	EUR	2,810		2,944
Reg. S, 0.50%, 02/15/2028	EUR	5,790		6,034
Reg. S, 1.00%, 08/15/2025	EUR	4,291		4,621
Reg. S, 1.00%, 05/15/2038	EUR	3,102		2,911
Reg. S, 1.25%, 08/15/2048	EUR	5,028		4,509
Reg. S, 1.70%, 08/15/2032	EUR	2,310		2,497
Reg. S, 1.80%, 08/15/2053	EUR	2,710		2,698
Reg. S, 2.10%, 11/15/2029	EUR	180		201
Reg. S, 2.30%, 02/15/2033	EUR	7,860		8,899
Reg. S, 2.50%, 07/04/2044	EUR	1,585		1,807
Reg. S, 2.50%, 08/15/2046	EUR	3,996		4,580
Reg. S, 3.25%, 07/04/2042	EUR	3,176		4,004
Reg. S, 4.00%, 01/04/2037	EUR	1,493		1,983
Reg. S, 4.25%, 07/04/2039	EUR	1,434		1,992
Reg. S, 4.75%, 07/04/2034	EUR	2,531		3,495
Reg. S, 4.75%, 07/04/2040	EUR	2,014		2,974
Reg. S, 5.50%, 01/04/2031	EUR	300		408
Reg. S, 5.63%, 01/04/2028	EUR	780		980
Reg. S, 6.25%, 01/04/2030	EUR	1,025		1,405
Reg. S, 6.50%, 07/04/2027	EUR	1,410		1,787
Series 7Y, Reg. S, 2.40%, 11/15/2030	EUR	1,660		1,887
Series 10Y, Reg. S, 2.60%, 08/15/2033	EUR	690		800
Series G, Reg. S, 0.00%, 08/15/2030	EUR	1,320		1,288
Series G, Reg. S, 0.00%, 08/15/2031	EUR	2,910		2,781
Series G, Reg. S, 0.00%, 08/15/2050	EUR	852		526
Series G, Reg. S, 1.80%, 08/15/2053	EUR	1,828		1,824
Series G, Reg. S, 2.30%, 02/15/2033	EUR	1,850		2,095
Bundesschatzanweisungen, (Germany), Reg. S, 2.20%, 12/12/2024	EUR	2,340		2,562


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Caisse d’Amortissement de la Dette Sociale, (France),
Reg. S, 0.00%, 02/25/2028	EUR	200		199
Reg. S, 0.00%, 05/25/2029	EUR	500		483
Reg. S, 0.00%, 11/25/2030	EUR	400		371
Reg. S, 0.00%, 05/25/2031	EUR	400		365
Reg. S, 0.13%, 09/15/2031	EUR	300		275
Reg. S, 0.45%, 01/19/2032	EUR	400		373
Reg. S, 0.60%, 11/25/2029	EUR	600		593
Reg. S, 1.50%, 05/25/2032	EUR	400		404
Reg. S, 1.75%, 11/25/2027	EUR	700		751
Reg. S, 2.75%, 11/25/2032	EUR	400		445
Reg. S, 2.88%, 05/25/2027	EUR	700		781
Reg. S, 3.00%, 05/25/2028	EUR	800		900
Reg. S, 3.00%, 11/25/2031	EUR	300		340
Reg. S, 3.13%, 03/01/2030	EUR	700		799
Reg. S, 4.00%, 12/15/2025	EUR	1,383		1,561
Caisse des Depots et Consignations, (France),
Reg. S, 3.00%, 05/25/2028	EUR	100		113
Reg. S, 3.13%, 05/25/2033	EUR	200		228
Caisse Francaise de Financement Local, (France),
Reg. S, 0.01%, 05/07/2025	EUR	100		106
Reg. S, 0.13%, 06/30/2031	EUR	100		91
Reg. S, 0.38%, 06/23/2025	EUR	100		106
Reg. S, 0.50%, 01/19/2026	EUR	100		105
Reg. S, 0.50%, 10/01/2046	EUR	100		65
Reg. S, 1.00%, 04/25/2028	EUR	100		102
Reg. S, 1.25%, 05/11/2032	EUR	100		97
Reg. S, 1.50%, 06/28/2038	EUR	100		90
Reg. S, 3.00%, 10/02/2028	EUR	5,000		5,573
Canadian Government Bond, (Canada), 1.00%, 06/01/2027	CAD	200		140
1.25%, 03/01/2025	CAD	1,115		812
1.50%, 06/01/2031	CAD	600		405
1.75%, 12/01/2053	CAD	400		227
2.00%, 06/01/2032	CAD	600		416
2.00%, 12/01/2051	CAD	530		322
3.50%, 03/01/2028	CAD	500		381
3.50%, 12/01/2045	CAD	2,090		1,683
4.00%, 06/01/2041	CAD	150		127
Canton of Zurich, (Switzerland), Reg. S, 0.10%, 06/23/2045	CHF	50		48
Cassa Depositi e Prestiti SpA, (Italy),
Reg. S, 1.00%, 09/21/2028	EUR	300		297
Reg. S, 2.00%, 04/20/2027	EUR	100		107
Reg. S, 3.88%, 02/13/2029	EUR	200		225
CDP Financial, Inc., (Canada),
Reg. S, 1.13%, 04/06/2027	EUR	6,000		6,297
5.60%, 11/25/2039 (e)		250		268


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Chile Government International Bond, (Chile), 0.10%, 01/26/2027	EUR	5,000		5,002
0.83%, 07/02/2031	EUR	1,050		956
1.25%, 01/22/2051	EUR	6,900		4,255
1.30%, 07/26/2036	EUR	1,000		837
2.55%, 01/27/2032		200		172
2.55%, 07/27/2033		200		165
3.10%, 01/22/2061		510		342
3.50%, 01/31/2034		200		178
4.13%, 07/05/2034	EUR	4,047		4,557
China Development Bank, (China),
Reg. S, 2.95%, 07/19/2027	CNH	15,000		2,106
Reg. S, 3.23%, 11/27/2025	CNH	10,000		1,411
Reg. S, 4.20%, 01/19/2027	CNH	13,000		1,895
Reg. S, 4.30%, 08/02/2032	CNH	7,000		1,082
Reg. S, 4.35%, 08/06/2024	CNH	7,000		990
Reg. S, 4.35%, 09/19/2024	CNH	1,000		142
Reg. S, 4.50%, 11/13/2028	CNH	2,500		376
Series 1510, 4.21%, 04/13/2025	CNY	73,000		10,547
Series 1518, 3.74%, 09/10/2025	CNY	62,700		9,059
Series 1605, 3.80%, 01/25/2036	CNY	98,000		15,137
Series 1710, 4.04%, 04/10/2027	CNY	114,900		17,031
Series 1814, 4.15%, 10/26/2025	CNY	7,200		1,050
Series 1904, 3.68%, 02/26/2026	CNY	63,500		9,218
Series 1905, 3.48%, 01/08/2029	CNY	202,200		29,713
Series 1909, 3.50%, 08/13/2026	CNY	86,100		12,498
Series 1910, 3.65%, 05/21/2029	CNY	181,900		26,975
Series 1915, 3.45%, 09/20/2029	CNY	40,000		5,889
Series 2003, 3.23%, 01/10/2025	CNY	129,300		18,420
Series 2005, 3.07%, 03/10/2030	CNY	38,800		5,597
Series 2008, 2.89%, 06/22/2025	CNY	20,000		2,843
Series 2010, 3.09%, 06/18/2030	CNY	9,000		1,299
Series 2015, 3.70%, 10/20/2030	CNY	18,000		2,697
Series 2105, 3.66%, 03/01/2031	CNY	64,700		9,682
Series 2108, 2.83%, 09/10/2026	CNY	4,500		643
Series 2110, 3.41%, 06/07/2031	CNY	90,400		13,334
Series 2115, 3.12%, 09/13/2031	CNY	61,600		8,900
Series 2202, 2.59%, 03/17/2025	CNY	7,500		1,062
Series 2204, 2.99%, 03/01/2029	CNY	4,000		575
Series 2205, 3.00%, 01/17/2032	CNY	190,200		27,310
Series 2210, 2.98%, 04/22/2032	CNY	32,200		4,617
Series 2215, 2.96%, 07/18/2032	CNY	11,000		1,571
Series 2220, 2.77%, 10/24/2032	CNY	64,000		9,010
Series 2318, 2.35%, 10/16/2025	CNY	16,200		2,284
China Government Bond, (China), 2.24%, 05/25/2025	CNY	25,000		3,525
2.28%, 11/25/2025	CNY	45,700		6,450
2.37%, 01/20/2027	CNY	250,000		35,263
2.44%, 10/15/2027	CNY	8,000		1,131
2.48%, 04/15/2027	CNY	148,300		20,981
2.60%, 09/01/2032	CNY	88,800		12,518
2.62%, 09/25/2029	CNY	44,000		6,244
2.68%, 05/21/2030	CNY	520,900		73,962


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


2.69%, 08/12/2026	CNY	190,500		27,149
2.69%, 08/15/2032	CNY	16,400		2,328
Reg. S, 2.71%, 06/16/2033	CNH	11,000		1,513
2.75%, 06/15/2029	CNY	132,500		18,935
2.75%, 02/17/2032	CNY	169,900		24,252
2.76%, 05/15/2032	CNY	6,600		942
2.80%, 03/24/2029	CNY	250,300		35,864
2.80%, 11/15/2032	CNY	56,600		8,111
Reg. S, 2.82%, 08/12/2032	CNY	10,000		1,401
2.85%, 06/04/2027	CNY	272,800		39,078
2.89%, 11/18/2031	CNY	204,100		29,429
3.12%, 10/25/2052	CNY	20,600		3,021
3.19%, 04/15/2053	CNY	5,000		752
3.27%, 03/25/2073	CNY	109,170		16,731
Reg. S, 3.31%, 11/30/2025	CNH	2,000		284
3.32%, 04/15/2052	CNY	61,930		9,395
Reg. S, 3.38%, 11/21/2024	CNH	3,000		423
Reg. S, 3.38%, 07/04/2026	CNH	24,000		3,419
3.39%, 03/16/2050	CNY	117,240		17,962
3.53%, 10/18/2051	CNY	133,600		20,996
Reg. S, 3.60%, 06/27/2028	CNH	26,500		3,843
Reg. S, 3.60%, 05/21/2030	CNH	8,500		1,245
3.72%, 04/12/2051	CNY	106,000		17,229
3.73%, 05/25/2070	CNY	18,670		3,168
3.81%, 09/14/2050	CNY	89,100		14,651
Reg. S, 3.85%, 12/12/2026	CNH	19,000		2,751
Reg. S, 3.90%, 07/04/2036	CNH	13,500		2,025
Reg. S, 4.00%, 05/22/2024	CNH	8,500		1,198
Reg. S, 4.00%, 11/30/2035	CNH	30,500		4,602
Reg. S, 4.15%, 12/04/2027	CNH	20,000		2,950
Reg. S, 4.15%, 12/12/2031	CNH	3,000		459
Reg. S, 4.29%, 05/22/2029	CNH	3,000		451
Reg. S, 4.40%, 12/12/2046	CNH	26,000		4,158
Series 1908, 4.00%, 06/24/2069	CNY	5,000		893
Series 2216, 2.50%, 07/25/2027	CNY	25,000		3,539
Series INBK, 1.99%, 04/09/2025	CNY	375,700		52,812
Series INBK, 2.88%, 02/25/2033	CNY	19,000		2,742
China Government International Bond, (China),
Reg. S, 0.13%, 11/12/2026	EUR	3,700		3,748
Reg. S, 0.50%, 11/12/2031	EUR	3,250		2,967
City of Milan Italy, (Italy), 4.02%, 06/29/2035	EUR	40		44
City of Montreal Canada, (Canada), 2.30%, 09/01/2029	CAD	600		421
City of Quebec Canada, (Canada),
2.10%, 07/06/2031	CAD	300		198
2.65%, 12/20/2027	CAD	565		408
City of Toronto Canada, (Canada),
2.60%, 09/24/2039	CAD	300		185
2.95%, 04/28/2035	CAD	200		136
Colombia Government International Bond, (Colombia), 9.85%, 06/28/2027	COP	500,000		121


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Communaute Francaise de Belgique, (Belgium),
Reg. S, 1.63%, 05/03/2032	EUR	200		201
Reg. S, 3.75%, 06/22/2033	EUR	100		117
CPPIB Capital, Inc., (Canada),
Reg. S, 0.25%, 04/06/2027	EUR	2,550		2,608
Reg. S, 0.25%, 01/18/2041	EUR	2,500		1,712
Reg. S, 0.38%, 06/20/2024	EUR	300		326
Reg. S, 0.75%, 07/15/2049	EUR	600		395
Reg. S, 1.63%, 10/22/2071	GBP	2,000		1,134
Croatia Government International Bond, (Croatia),
Reg. S, 1.13%, 06/19/2029	EUR	300		300
Reg. S, 1.50%, 06/17/2031	EUR	770		760
Reg. S, 1.75%, 03/04/2041	EUR	500		417
Reg. S, 3.00%, 03/20/2027	EUR	300		331
Cyprus Government International Bond, (Cyprus),
Reg. S, 0.63%, 12/03/2024	EUR	347		373
Reg. S, 0.63%, 01/21/2030	EUR	235		228
Reg. S, 0.95%, 01/20/2032	EUR	300		284
Reg. S, 1.25%, 01/21/2040	EUR	720		573
Reg. S, 2.25%, 04/16/2050	EUR	10		8
Reg. S, 4.13%, 04/13/2033	EUR	360		430
Czech Republic Government Bond, (Czech Republic),
Series 49, Reg. S, 4.20%, 12/04/2036	CZK	5,390		250
Series 53, Reg. S, 4.85%, 11/26/2057	CZK	2,340		118
Series 78, Reg. S, 2.50%, 08/25/2028	CZK	16,760		710
Series 89, Reg. S, 2.40%, 09/17/2025	CZK	16,910		730
Series 94, Reg. S, 0.95%, 05/15/2030	CZK	17,380		656
Series 95, Reg. S, 1.00%, 06/26/2026	CZK	6,860		284
Series 100, 0.25%, 02/10/2027	CZK	60,340		2,406
Series 103, 2.00%, 10/13/2033	CZK	20,000		767
Series 105, 2.75%, 07/23/2029	CZK	5,810		246
Series 120, 1.25%, 02/14/2025	CZK	11,950		514
Series 121, 1.20%, 03/13/2031	CZK	27,250		1,024
Series 125, 1.50%, 04/24/2040	CZK	8,640		277
Series 130, 0.05%, 11/29/2029	CZK	13,030		470
Series 138, 1.75%, 06/23/2032	CZK	20,400		784
Series 142, 1.95%, 07/30/2037	CZK	12,960		464
Series 148, 6.00%, 02/26/2026	CZK	5,910		275
Series 149, 5.50%, 12/12/2028	CZK	10,640		515
Series 150, 5.00%, 09/30/2030	CZK	4,140		199
Denmark Government Bond, (Denmark), 0.25%, 11/15/2052	DKK	5,921		498
0.50%, 11/15/2027	DKK	5,478		764
0.50%, 11/15/2029	DKK	13,494		1,825
1.75%, 11/15/2025	DKK	5,460		798
4.50%, 11/15/2039	DKK	10,830		2,047
7.00%, 11/10/2024	DKK	1,470		225
Series G, 0.00%, 11/15/2031	DKK	960		120
Series TWIN, 0.00%, 11/15/2031	DKK	8,157		1,022


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Development Bank of Japan, Inc., (Japan),
Reg. S, 0.88%, 10/10/2025	EUR	1,000		1,063
Reg. S, 2.13%, 09/01/2026	EUR	1,000		1,084
4.75%, 11/26/2027	EUR	900		1,067
Series 86, 0.24%, 10/13/2027	JPY	100,000		708
Estonia Government International Bond, (Estonia), Reg. S, 0.13%, 06/10/2030	EUR	200		183
European Financial Stability Facility, (Luxembourg),
Reg. S, 0.00%, 10/13/2027	EUR	4,325		4,360
Reg. S, 0.00%, 01/20/2031	EUR	9,600		8,882
Reg. S, 0.05%, 10/17/2029	EUR	9,000		8,655
Reg. S, 0.05%, 01/18/2052	EUR	1,000		487
Reg. S, 0.40%, 02/17/2025	EUR	1,000		1,073
Reg. S, 0.50%, 07/11/2025	EUR	8,000		8,534
Reg. S, 0.63%, 10/16/2026	EUR	100		105
Reg. S, 0.70%, 01/20/2050	EUR	2,500		1,624
Reg. S, 0.70%, 01/17/2053	EUR	10,000		6,094
Reg. S, 0.75%, 05/03/2027	EUR	15,000		15,699
Reg. S, 0.88%, 04/10/2035	EUR	15,900		14,368
Reg. S, 1.20%, 02/17/2045	EUR	2,325		1,863
Reg. S, 1.38%, 05/31/2047	EUR	10,000		8,103
Reg. S, 1.45%, 09/05/2040	EUR	10,370		9,200
Reg. S, 1.50%, 12/15/2025	EUR	13,000		14,047
Reg. S, 1.70%, 02/13/2043	EUR	1,900		1,712
Reg. S, 1.75%, 07/17/2053	EUR	2,050		1,686
Reg. S, 2.00%, 02/28/2056	EUR	2,000		1,734
Reg. S, 2.38%, 04/11/2028	EUR	15,000		16,529
Reg. S, 2.38%, 06/21/2032	EUR	5,000		5,418
Reg. S, 2.75%, 08/17/2026	EUR	15,000		16,657
Reg. S, 2.75%, 12/03/2029	EUR	1,020		1,143
Reg. S, 3.00%, 12/15/2028	EUR	1,000		1,132
Reg. S, 3.38%, 04/03/2037	EUR	3,000		3,494
European Stability Mechanism, (Supranational),
Reg. S, 0.00%, 12/15/2026	EUR	10,000		10,283
Reg. S, 0.01%, 03/04/2030	EUR	1,900		1,806
Reg. S, 0.01%, 10/15/2031	EUR	8,900		8,110
Reg. S, 0.50%, 03/02/2026	EUR	5,600		5,922
Reg. S, 0.50%, 03/05/2029	EUR	6,000		6,010
Reg. S, 0.75%, 09/05/2028	EUR	2,750		2,813
Reg. S, 0.88%, 07/18/2042	EUR	1,020		782
Reg. S, 1.00%, 09/23/2025	EUR	15,000		16,097
Reg. S, 1.00%, 06/23/2027	EUR	5,000		5,257
Reg. S, 1.75%, 10/20/2045	EUR	1,050		931
Reg. S, 1.80%, 11/02/2046	EUR	10,420		9,298
Reg. S, 1.85%, 12/01/2055	EUR	180		148
European Union, (Supranational),
Reg. S, 0.00%, 07/06/2026	EUR	10,350		10,742
Reg. S, 0.00%, 10/04/2028	EUR	1,800		1,773
Reg. S, 0.00%, 04/22/2031	EUR	5,800		5,351
Reg. S, 0.00%, 07/04/2031	EUR	20,000		18,305
Reg. S, 0.25%, 04/22/2036	EUR	12,900		10,489


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 0.40%, 02/04/2037	EUR	10,000		8,168
Reg. S, 0.45%, 07/04/2041	EUR	19,800		14,328
Reg. S, 0.50%, 04/04/2025	EUR	3,575		3,834
Reg. S, 0.70%, 07/06/2051	EUR	5,900		3,710
Reg. S, 0.75%, 04/04/2031	EUR	3,925		3,832
Reg. S, 0.80%, 07/04/2025	EUR	10,700		11,460
Reg. S, 1.00%, 07/06/2032	EUR	5,800		5,638
Reg. S, 1.13%, 04/04/2036	EUR	1,265		1,157
Reg. S, 1.38%, 10/04/2029	EUR	8,000		8,325
Reg. S, 1.50%, 10/04/2035	EUR	5,000		4,818
Reg. S, 1.63%, 12/04/2029	EUR	31,600		33,291
Reg. S, 2.50%, 10/04/2052	EUR	26,000		25,476
Reg. S, 2.63%, 02/04/2048	EUR	16,000		16,428
Reg. S, 2.75%, 10/05/2026	EUR	20,000		22,245
Reg. S, 3.38%, 04/04/2032	EUR	1,200		1,405
Reg. S, 3.38%, 04/04/2038	EUR	4,000		4,641
Reg. S, 3.38%, 10/04/2038	EUR	10,000		11,597
Reg. S, 3.38%, 11/04/2042	EUR	20,000		23,032
Reg. S, 3.75%, 04/04/2042	EUR	5,015		6,076
Series MFA, Reg. S, 3.00%, 03/04/2053	EUR	8,000		8,664
Series SURE, Reg. S, 0.00%, 11/04/2025	EUR	5,198		5,482
Series SURE, Reg. S, 0.00%, 06/02/2028	EUR	5,500		5,479
Series SURE, Reg. S, 0.00%, 10/04/2030	EUR	10,000		9,374
Series SURE, Reg. S, 0.00%, 07/04/2035	EUR	10,800		8,694
Series SURE, Reg. S, 0.10%, 10/04/2040	EUR	7,675		5,332
Series SURE, Reg. S, 0.20%, 06/04/2036	EUR	9,600		7,712
Series SURE, Reg. S, 0.30%, 11/04/2050	EUR	1,220		689
Series SURE, Reg. S, 0.45%, 05/02/2046	EUR	5,000		3,265
Series SURE, Reg. S, 0.75%, 01/04/2047	EUR	5,000		3,492
Series SURE, Reg. S, 1.13%, 06/04/2037	EUR	5,000		4,440
Export Development Canada, (Canada),
Reg. S, 0.50%, 02/25/2027	EUR	2,000		2,075
Reg. S, 2.88%, 01/19/2028	EUR	10,000		11,209
Export-Import Bank of China (The), (China),
Series 1514, 3.87%, 09/14/2025	CNY	29,000		4,186
Series 1603, 3.33%, 02/22/2026	CNY	15,000		2,161
Series 1703, 4.11%, 03/20/2027	CNY	20,000		2,959
Series 1910, 3.86%, 05/20/2029	CNY	97,800		14,636
Series 2005, 2.93%, 03/02/2025	CNY	75,600		10,738
Series 2007, 3.26%, 02/24/2027	CNY	83,600		12,096
Series 2010, 3.23%, 03/23/2030	CNY	39,400		5,724
Series 2011, 3.74%, 11/16/2030	CNY	10,000		1,500
Series 2015, 3.43%, 10/23/2025	CNY	71,000		10,210


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 2110, 3.38%, 07/16/2031	CNY	4,000		588
Series 2203, 2.57%, 06/10/2025	CNY	13,000		1,840
Series 2207, 2.74%, 09/05/2029	CNY	8,200		1,162
Series 2210, 3.18%, 03/11/2032		CNY 123,600		17,925
Series 2211, 2.90%, 08/19/2032	CNY	63,000		8,958
Series 2215, 2.82%, 06/17/2027	CNY	27,300		3,897
Series 2310, 3.10%, 02/13/2033	CNY	13,900		2,007
Export-Import Bank of Korea, (South Korea),
3.63%, 09/18/2027	EUR	500		565
5.13%, 09/18/2033		230		239
Reg. S, 8.00%, 05/15/2024	IDR	400,000		26
Finland Government Bond, (Finland),
Reg. S, 0.00%, 09/15/2026 (e)	EUR	350		362
Reg. S, 0.00%, 09/15/2030 (e)	EUR	130		122
Reg. S, 0.13%, 09/15/2031 (e)	EUR	755		698
Reg. S, 0.13%, 04/15/2052 (e)	EUR	450		244
Reg. S, 0.25%, 09/15/2040 (e)	EUR	384		281
Reg. S, 0.50%, 04/15/2026 (e)	EUR	1,440		1,521
Reg. S, 0.50%, 09/15/2027 (e)	EUR	660		683
Reg. S, 0.50%, 09/15/2028 (e)	EUR	484		491
Reg. S, 0.50%, 09/15/2029 (e)	EUR	80		80
Reg. S, 0.50%, 04/15/2043 (e)	EUR	450		325
Reg. S, 0.75%, 04/15/2031 (e)	EUR	321		315
Reg. S, 0.88%, 09/15/2025 (e)	EUR	430		461
Reg. S, 1.13%, 04/15/2034 (e)	EUR	421		403
Reg. S, 1.38%, 04/15/2027 (e)	EUR	160		171
Reg. S, 1.50%, 09/15/2032 (e)	EUR	1,300		1,322
Reg. S, 2.63%, 07/04/2042 (e)	EUR	675		724
Reg. S, 2.75%, 07/04/2028 (e)	EUR	960		1,079
Reg. S, 2.75%, 04/15/2038 (e)	EUR	540		593
Reg. S, 3.00%, 09/15/2033 (e)	EUR	620		709
Reg. S, 4.00%, 07/04/2025 (e)	EUR	780		877
Series 30Y, Reg. S, 1.38%, 04/15/2047 (e)	EUR	717		600
Finnvera OYJ, (Finland),
Reg. S, 0.38%, 04/09/2029	EUR	300		297
Reg. S, 0.75%, 08/07/2028	EUR	1,000		1,025
Reg. S, 2.13%, 03/08/2028	EUR	300		327
Fondo De Titulizacion Del Deficit Del Sistema Electrico FTA, (Spain), Reg. S, 0.01%, 09/17/2025	EUR	100		105
Free and Hanseatic City of Hamburg, (Germany),
Reg. S, 0.00%, 04/07/2026	EUR	280		292
Reg. S, 0.01%, 06/30/2028	EUR	180		178
0.01%, 11/05/2035	EUR	70		56
Reg. S, 0.20%, 09/03/2049	EUR	70		39
Reg. S, 0.25%, 02/18/2041	EUR	394		279
Free State of Bavaria, (Germany), Reg. S, 0.01%, 01/18/2035	EUR	352		292
Free State of Saxony, (Germany),
Reg. S, 0.01%, 11/05/2029	EUR	197		189
Series 132, Reg. S, 0.01%, 12/17/2035	EUR	210		168


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
French Republic Government Bond OAT, (France),
Reg. S, 0.00%, 02/25/2025	EUR	2,820		3,012
Reg. S, 0.00%, 03/25/2025	EUR	5,030		5,362
Reg. S, 0.00%, 02/25/2026	EUR	7,430		7,799
Reg. S, 0.00%, 02/25/2027	EUR	4,305		4,430
Reg. S, 0.00%, 11/25/2029	EUR	9,655		9,349
Reg. S, 0.00%, 11/25/2030	EUR	3,660		3,454
Reg. S, 0.00%, 11/25/2031	EUR	5,604		5,139
Reg. S, 0.00%, 05/25/2032	EUR	3,340		3,018
Reg. S, 0.25%, 11/25/2026	EUR	4,076		4,248
Reg. S, 0.50%, 05/25/2025	EUR	6,943		7,434
Reg. S, 0.50%, 05/25/2026	EUR	3,759		3,973
Reg. S, 0.50%, 05/25/2029	EUR	3,547		3,573
Reg. S, 0.50%, 05/25/2040 (e)	EUR	5,014		3,833
Reg. S, 0.50%, 06/25/2044 (e)	EUR	1,245		861
Reg. S, 0.50%, 05/25/2072 (e)	EUR	1,203		555
Reg. S, 0.75%, 02/25/2028	EUR	9,480		9,861
Reg. S, 0.75%, 05/25/2028	EUR	7,363		7,633
Reg. S, 0.75%, 11/25/2028	EUR	3,737		3,847
Reg. S, 0.75%, 05/25/2052 (e)	EUR	4,457		2,820
Reg. S, 0.75%, 05/25/2053 (e)	EUR	5,058		3,136
Reg. S, 1.00%, 11/25/2025	EUR	5,760		6,188
Reg. S, 1.00%, 05/25/2027	EUR	3,898		4,129
Reg. S, 1.25%, 05/25/2034	EUR	5,216		5,059
Reg. S, 1.25%, 05/25/2036 (e)	EUR	6,764		6,318
Reg. S, 1.25%, 05/25/2038	EUR	3,740		3,362
Reg. S, 1.50%, 05/25/2031	EUR	4,223		4,401
Reg. S, 1.50%, 05/25/2050 (e)	EUR	3,610		2,895
Reg. S, 1.75%, 06/25/2039 (e)	EUR	1,847		1,773
Reg. S, 1.75%, 05/25/2066 (e)	EUR	2,216		1,745
Reg. S, 2.00%, 11/25/2032	EUR	8,910		9,485
Reg. S, 2.00%, 05/25/2048 (e)	EUR	2,877		2,626
Reg. S, 2.50%, 09/24/2026	EUR	1,838		2,037
Reg. S, 2.50%, 05/25/2030	EUR	10,991		12,295
Reg. S, 2.50%, 05/25/2043 (e)	EUR	3,240		3,327
Reg. S, 2.75%, 10/25/2027	EUR	5,509		6,193
Reg. S, 2.75%, 02/25/2029	EUR	850		961
Reg. S, 3.00%, 05/25/2033	EUR	2,080		2,389
Reg. S, 3.00%, 05/25/2054 (e)	EUR	1,810		1,962
Reg. S, 3.25%, 05/25/2045	EUR	3,425		3,944
Reg. S, 3.50%, 04/25/2026	EUR	536		606
Reg. S, 4.00%, 10/25/2038	EUR	2,299		2,902
Reg. S, 4.00%, 04/25/2055 (e)	EUR	1,031		1,342
Reg. S, 4.00%, 04/25/2060	EUR	1,577		2,080
Reg. S, 4.50%, 04/25/2041	EUR	2,492		3,353
Reg. S, 4.75%, 04/25/2035	EUR	1,467		1,949
Reg. S, 5.50%, 04/25/2029	EUR	2,437		3,118
Reg. S, 5.75%, 10/25/2032	EUR	1,029		1,427
Reg. S, 6.00%, 10/25/2025	EUR	1,290		1,511
Gemeinsame Deutsche Bundeslaender, (Germany),
Series 58, Reg. S, 0.00%, 02/19/2027	EUR	220		225
Series 60, Reg. S, 0.01%, 02/04/2031	EUR	146		135
Series 62, Reg. S, 1.25%, 05/04/2029	EUR	580		602


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Gestion Securite de Stocks Securite SA, (France),
Reg. S, 1.50%, 10/25/2027	EUR	1,000		1,055
Reg. S, 3.38%, 06/29/2030	EUR	300		343
HM Treasury UK Sovereign Sukuk plc, (United Kingdom), Reg. S, 0.33%, 07/22/2026	GBP	900		1,052
Hong Kong Government Bond Programme, (Hong Kong), 1.97%, 01/17/2029	HKD	200		24
Hong Kong Government International Bond, (Hong Kong),
Reg. S, 2.80%, 11/30/2024	CNH	5,000		701
Reg. S, 2.95%, 06/07/2028	CNH	8,500		1,197
Reg. S, 3.00%, 11/30/2026	CNH	10,000		1,406
Hungary Government Bond, (Hungary),
Series 26/E, 1.50%, 04/22/2026	HUF	739,160		1,920
Series 26/D, 2.75%, 12/22/2026	HUF	80,210		210
Series 27/A, 3.00%, 10/27/2027	HUF	194,780		511
Series 28/B, 4.50%, 03/23/2028	HUF	73,760		202
Series 28/A, 6.75%, 10/22/2028	HUF	75,000		224
Series 29/A, 2.00%, 05/23/2029	HUF	200,000		481
Series 30/A, 3.00%, 08/21/2030	HUF	297,350		735
Series 32/A, 4.75%, 11/24/2032	HUF	58,400		155
Series 33/A, 2.25%, 04/20/2033	HUF	194,590		424
Series 34/A, 2.25%, 06/22/2034	HUF	100,520		210
Series 38/A, 3.00%, 10/27/2038	HUF	82,470		166
Series 41/A, 3.00%, 04/25/2041	HUF	27,170		52
Hungary Government International Bond, (Hungary),
Reg. S, 0.50%, 11/18/2030	EUR	1,000		864
Reg. S, 1.63%, 04/28/2032	EUR	1,000		895
Reg. S, 1.75%, 10/10/2027	EUR	825		852
Reg. S, 1.75%, 06/05/2035	EUR	5,000		4,224
Hydro-Quebec, (Canada), 6.00%, 02/15/2040	CAD	300		280
SUB, 8.40%, 03/28/2025		600		623
SUB, 8.91%, 11/18/2024		800		826
Series HK, 9.38%, 04/15/2030		500		625
Ile-de-France Mobilites, (France),
Reg. S, 0.40%, 05/28/2031	EUR	300		281
Reg. S, 0.68%, 11/24/2036	EUR	100		82
Reg. S, 1.00%, 05/25/2034	EUR	300		275
Reg. S, 1.28%, 02/14/2042	EUR	100		80
Reg. S, 3.05%, 02/03/2033	EUR	100		112
Reg. S, 3.40%, 05/25/2043	EUR	100		111
Indonesia Government International Bond, (Indonesia),
0.90%, 02/14/2027	EUR	3,102		3,138
1.10%, 03/12/2033	EUR	1,000		871
1.85%, 03/12/2031		234		194
Reg. S, 2.15%, 07/18/2024	EUR	2,050		2,233
3.35%, 03/12/2071		200		147
Reg. S, 3.38%, 07/30/2025	EUR	7,000		7,670
Reg. S, 3.75%, 06/14/2028	EUR	1,000		1,110
4.65%, 09/20/2032		600		600


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Indonesia Treasury Bond, (Indonesia),
Series FR56, 8.38%, 09/15/2026	IDR	3,269,000		222
Series FR65, 6.63%, 05/15/2033	IDR	400,000		26
Series FR67, 8.75%, 02/15/2044	IDR	2,074,000		161
Series FR75, 7.50%, 05/15/2038	IDR	1,300,000		90
Series FR82, 7.00%, 09/15/2030	IDR	229,000		15
Series FR86, 5.50%, 04/15/2026	IDR	600,000		38
Series FR87, 6.50%, 02/15/2031	IDR	800,000		52
Series FR91, 6.38%, 04/15/2032	IDR	3,200,000		206
Series FR95, 6.38%, 08/15/2028	IDR	1,000,000		65
Series FR96, 7.00%, 02/15/2033	IDR	1,000,000		67
Industrial Bank of Korea, (South Korea), Reg. S, 0.02%, 07/16/2025	CHF	300		346
Instituto de Credito Oficial, (Spain),
Reg. S, 0.00%, 04/30/2027	EUR	1,000		1,009
Reg. S, 2.65%, 01/31/2028	EUR	100		110
International Bank for Reconstruction & Development, (Supranational),
0.00%, 01/15/2027	EUR	2,125		2,180
Zero Coupon, 07/15/2029		38		30
Zero Coupon, 10/31/2030		1,000		732
0.10%, 09/17/2035	EUR	1,475		1,202
Reg. S, 0.20%, 01/21/2061	EUR	1,000		421
0.25%, 09/23/2027	GBP	2,900		3,246
0.25%, 05/21/2029	EUR	5,000		4,919
0.38%, 07/28/2025		50		47
0.50%, 10/28/2025		2,100		1,957
0.50%, 06/21/2035	EUR	50		43
0.65%, 02/10/2026		750		694
Reg. S, 0.70%, 10/22/2046	EUR	2,000		1,393
0.88%, 12/13/2024	GBP	2,050		2,516
1.00%, 12/21/2029	GBP	2,000		2,194
1.20%, 08/08/2034	EUR	9,000		8,607
1.63%, 01/15/2025		475		460
(SOFR Compounded Index + 0.26%), 2.33%, 05/31/2026 (aa)		1,000		947
2.50%, 03/19/2024		465		462
2.90%, 01/19/2033	EUR	7,000		7,911
Investitionsbank Schleswig-Holstein, (Germany),
Reg. S, 0.01%, 05/15/2026	EUR	100		104
Reg. S, 3.25%, 03/10/2031	EUR	300		346
Ireland Government Bond, (Ireland),
Reg. S, 0.00%, 10/18/2031	EUR	1,577		1,457
Reg. S, 0.20%, 05/15/2027	EUR	1,290		1,331
Reg. S, 0.20%, 10/18/2030	EUR	1,111		1,066
Reg. S, 0.35%, 10/18/2032	EUR	290		269
Reg. S, 0.40%, 05/15/2035	EUR	300		262
Reg. S, 0.55%, 04/22/2041	EUR	385		297
Reg. S, 0.90%, 05/15/2028	EUR	412		431
Reg. S, 1.00%, 05/15/2026	EUR	720		771
Reg. S, 1.10%, 05/15/2029	EUR	957		997
Reg. S, 1.30%, 05/15/2033	EUR	1,230		1,232
Reg. S, 1.35%, 03/18/2031	EUR	365		379


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 1.50%, 05/15/2050	EUR	1,163		963
Reg. S, 1.70%, 05/15/2037	EUR	800		787
Reg. S, 2.00%, 02/18/2045	EUR	685		652
Reg. S, 2.40%, 05/15/2030	EUR	1,000		1,113
Reg. S, 3.00%, 10/18/2043	EUR	600		687
5.40%, 03/13/2025	EUR	790		895
Israel Government AID Bond, (Israel),
5.50%, 09/18/2033		200		220
Series 2, Zero Coupon, 11/01/2024		749		717
Israel Government Bond—Fixed, (Israel),
Series 142, 5.50%, 01/31/2042	ILS	290		95
Series 327, 2.00%, 03/31/2027	ILS	800		214
Series 330, 1.00%, 03/31/2030	ILS	1,200		283
Series 537, 1.50%, 05/31/2037	ILS	305		61
Israel Government International Bond, (Israel),
Reg. S, 0.63%, 01/18/2032	EUR	3,000		2,543
Reg. S, 1.50%, 01/18/2027	EUR	2,000		2,044
Reg. S, 2.50%, 01/16/2049	EUR	825		684
2.75%, 07/03/2030		400		353
Italy Buoni Poliennali Del Tesoro, (Italy),
Series 2Y, Reg. S, 3.60%, 09/29/2025	EUR	530		591
Series 3Y, Reg. S, 1.20%, 08/15/2025	EUR	500		537
Series 3Y, Reg. S, 3.50%, 01/15/2026	EUR	470		525
Series 3Y, Reg. S, 3.80%, 04/15/2026	EUR	3,000		3,384
Series 5Y, Reg. S, 0.00%, 04/01/2026	EUR	4,060		4,208
Series 5Y, Reg. S, 0.00%, 08/01/2026	EUR	3,447		3,545
Series 5Y, Reg. S, 0.50%, 02/01/2026	EUR	5,270		5,543
Series 5Y, Reg. S, 1.10%, 04/01/2027	EUR	2,370		2,480
Series 5Y, Reg. S, 1.85%, 07/01/2025 (e)	EUR	2,080		2,257
Series 5Y, Reg. S, 2.65%, 12/01/2027	EUR	660		723
Series 5Y, Reg. S, 3.80%, 08/01/2028	EUR	450		514
Series 6Y, Reg. S, 0.35%, 02/01/2025	EUR	2,780		2,976
Series 7Y, Reg. S, 0.25%, 03/15/2028	EUR	7,600		7,520
Series 7Y, Reg. S, 0.45%, 02/15/2029	EUR	1,610		1,562
Series 7Y, Reg. S, 0.50%, 07/15/2028	EUR	4,074		4,037
Series 7Y, Reg. S, 0.95%, 09/15/2027	EUR	1,440		1,486
Series 7Y, Reg. S, 1.45%, 05/15/2025	EUR	2,813		3,040
Series 7Y, Reg. S, 2.50%, 11/15/2025	EUR	545		598
Series 7Y, Reg. S, 3.70%, 06/15/2030	EUR	1,800		2,038
Series 7Y, Reg. S, 3.85%, 12/15/2029	EUR	1,500		1,716
Series 7Y, Reg. S, 4.00%, 11/15/2030	EUR	1,550		1,784
Series 8Y, Reg. S, 0.85%, 01/15/2027	EUR	1,460		1,522
Series 8Y, Reg. S, 0.85%, 01/15/2027 (e)	EUR	4,975		5,187
Series 8Y, Reg. S, 4.00%, 10/30/2031 (e)	EUR	2,470		2,841
Series 10Y, Reg. S, 0.60%, 08/01/2031 (e)	EUR	2,294		2,069
Series 10Y, Reg. S, 0.95%, 08/01/2030	EUR	910		869
Series 10Y, Reg. S, 0.95%, 12/01/2031 (e)	EUR	2,855		2,621
Series 10Y, Reg. S, 0.95%, 06/01/2032	EUR	3,305		2,988


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 10Y, Reg. S, 1.25%, 12/01/2026	EUR	1,457		1,540
Series 10Y, Reg. S, 1.50%, 06/01/2025	EUR	1,620		1,750
Series 10Y, Reg. S, 1.60%, 06/01/2026	EUR	1,820		1,954
Series 10Y, Reg. S, 1.65%, 12/01/2030 (e)	EUR	124		123
Series 10Y, Reg. S, 2.00%, 02/01/2028	EUR	1,402		1,496
Series 10Y, Reg. S, 2.05%, 08/01/2027	EUR	3,580		3,849
Series 10Y, Reg. S, 2.20%, 06/01/2027	EUR	1,977		2,140
Series 10Y, Reg. S, 2.50%, 12/01/2032	EUR	5,610		5,720
Series 10Y, Reg. S, 2.80%, 12/01/2028	EUR	3,430		3,758
Series 10Y, Reg. S, 3.00%, 08/01/2029	EUR	1,946		2,140
Series 10Y, Reg. S, 4.35%, 11/01/2033	EUR	550		643
Series 10Y, Reg. S, 4.40%, 05/01/2033	EUR	3,290		3,870
Series 11Y, Reg. S, 0.90%, 04/01/2031	EUR	1,957		1,827
Series 11Y, Reg. S, 1.35%, 04/01/2030	EUR	2,100		2,078
Series 13Y, Reg. S, 4.00%, 04/30/2035 (e)	EUR	800		902
Series 15Y, Reg. S, 2.45%, 09/01/2033 (e)	EUR	3,720		3,729
Series 15Y, Reg. S, 4.75%, 09/01/2028 (e)	EUR	1,720		2,044
Series 16Y, Reg. S, 0.95%, 03/01/2037 (e)	EUR	3,214		2,485
Series 16Y, Reg. S, 1.45%, 03/01/2036 (e)	EUR	1,229		1,044
Series 16Y, Reg. S, 3.25%, 03/01/2038 (e)	EUR	3,490		3,538
Series 16Y, Reg. S, 3.50%, 03/01/2030 (e)	EUR	6,136		6,901
Series 16Y, Reg. S, 4.50%, 03/01/2026 (e)	EUR	2,853		3,257
Series 16Y, Reg. S, 5.00%, 03/01/2025 (e)	EUR	4,570		5,147
Series 17Y, Reg. S, 1.65%, 03/01/2032 (e)	EUR	2,246		2,168
Series 20Y, Reg. S, 2.25%, 09/01/2036 (e)	EUR	2,134		1,976
Series 20Y, Reg. S, 2.95%, 09/01/2038 (e)	EUR	2,612		2,555
Series 20Y, Reg. S, 4.45%, 09/01/2043 (e)	EUR	2,450		2,788
Series 21Y, Reg. S, 1.80%, 03/01/2041 (e)	EUR	3,104		2,471
Series 21Y, Reg. S, 3.10%, 03/01/2040 (e)	EUR	1,112		1,087
Series 26Y, Reg. S, 3.35%, 03/01/2035 (e)	EUR	2,660		2,825
Series 30Y, Reg. S, 2.15%, 09/01/2052 (e)	EUR	1,271		932
Series 30Y, Reg. S, 3.85%, 09/01/2049 (e)	EUR	1,230		1,284
Series 30Y, Reg. S, 4.50%, 10/01/2053 (e)	EUR	775		883
Series 30Y, Reg. S, 6.50%, 11/01/2027	EUR	890		1,111


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 30Y, Reg. S, 7.25%, 11/01/2026	EUR	1,355		1,676
Series 31Y, Reg. S, 1.70%, 09/01/2051 (e)	EUR	2,267		1,538
Series 31Y, Reg. S, 2.70%, 03/01/2047 (e)	EUR	1,350		1,175
Series 31Y, Reg. S, 3.25%, 09/01/2046 (e)	EUR	2,226		2,133
Series 31Y, Reg. S, 3.45%, 03/01/2048 (e)	EUR	2,815		2,779
Series 31Y, Reg. S, 4.00%, 02/01/2037 (e)	EUR	1,310		1,464
Series 31Y, Reg. S, 4.75%, 09/01/2044 (e)	EUR	1,955		2,323
Series 31Y, Reg. S, 5.00%, 08/01/2034 (e)	EUR	966		1,187
Series 31Y, Reg. S, 5.00%, 09/01/2040 (e)	EUR	560		683
Series 31Y, Reg. S, 5.25%, 11/01/2029	EUR	1,777		2,185
Series 31Y, Reg. S, 5.75%, 02/01/2033	EUR	1,260		1,624
Series 31Y, Reg. S, 6.00%, 05/01/2031	EUR	1,753		2,276
Series 32Y, Reg. S, 5.00%, 08/01/2039 (e)	EUR	1,323		1,613
Series 34Y, Reg. S, 1.50%, 04/30/2045 (e)	EUR	1,311		917
Series 50Y, Reg. S, 2.15%, 03/01/2072 (e)	EUR	530		356
Series 50Y, Reg. S, 2.80%, 03/01/2067 (e)	EUR	1,055		855
Series CAC, Reg. S, 2.45%, 09/01/2050 (e)	EUR	1,442		1,163
Japan Bank for International Cooperation, (Japan),
0.63%, 07/15/2025		500		469
3.13%, 02/15/2028	EUR	1,000		1,122
Japan Expressway Holding and Debt Repayment Agency, (Japan),
Series 37, 2.42%, 06/20/2028	JPY	100,000		774
Series 75, 1.96%, 09/19/2031	JPY	100,000		780
Series 271, 0.02%, 03/31/2026	JPY	30,000		212
Japan Finance Corp., (Japan), Series 57, 0.00%, 10/17/2025	JPY	20,000		142
Japan Finance Organization for Municipalities, (Japan),
Reg. S, 0.05%, 02/12/2027	EUR	500		507
Reg. S, 0.63%, 09/02/2025		1,000		932
Series 69, 0.48%, 02/28/2025	JPY	100,000		712
Series 2022, 2.32%, 06/18/2027	JPY	20,000		152
Japan Government Five Year Bond, (Japan),
Series 143, 0.10%, 03/20/2025	JPY	15,700		111
Series 144, 0.10%, 06/20/2025	JPY	347,000		2,465


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 146, 0.10%, 12/20/2025	JPY	122,000		867
Series 148, 0.01%, 06/20/2026	JPY	459,750		3,258
Series 149, 0.01%, 09/20/2026	JPY	10,000		71
Series 150, 0.01%, 12/20/2026	JPY	77,150		546
Series 151, 0.01%, 03/20/2027	JPY	173,000		1,224
Series 153, 0.01%, 06/20/2027	JPY	459,600		3,250
Japan Government Forty Year Bond, (Japan),
Series 1, 2.40%, 03/20/2048	JPY	100,000		831
Series 3, 2.20%, 03/20/2050	JPY	505,350		4,034
Series 6, 1.90%, 03/20/2053	JPY	650		5
Series 7, 1.70%, 03/20/2054	JPY	7,050		51
Series 8, 1.40%, 03/20/2055	JPY	14,350		95
Series 9, 0.40%, 03/20/2056	JPY	17,800		86
Series 10, 0.90%, 03/20/2057	JPY	7,050		40
Series 11, 0.80%, 03/20/2058	JPY	5,000		27
Series 12, 0.50%, 03/20/2059	JPY	10,000		48
Series 15, 1.00%, 03/20/2062	JPY	44,850		252
Series 16, 1.30%, 03/20/2063	JPY	3,700		23
Japan Government Ten Year Bond, (Japan),
Series 343, 0.10%, 06/20/2026	JPY	202,900		1,441
Series 344, 0.10%, 09/20/2026	JPY	131,500		934
Series 345, 0.10%, 12/20/2026	JPY	6,500		46
Series 349, 0.10%, 12/20/2027	JPY	59,700		423
Series 357, 0.10%, 12/20/2029	JPY	266,250		1,870
Series 358, 0.10%, 03/20/2030	JPY	90,300		633
Series 359, 0.10%, 06/20/2030	JPY	35,000		245
Series 360, 0.10%, 09/20/2030	JPY	35,450		248
Series 361, 0.10%, 12/20/2030	JPY	196,550		1,369
Series 362, 0.10%, 03/20/2031	JP	Y10,000		70
Series 363, 0.10%, 06/20/2031	JPY	310,050		2,147
Series 364, 0.10%, 09/20/2031	JPY	265,000		1,830
Series 365, 0.10%, 12/20/2031	JPY	45,000		310
Series 366, 0.20%, 03/20/2032	JPY	454,100		3,144
Series 367, 0.20%, 06/20/2032	JPY	6,000		41
Series 368, 0.20%, 09/20/2032	JPY	25,000		172
Series 370, 0.50%, 03/20/2033	JPY	16,250		114
Series 371, 0.40%, 06/20/2033	JPY	30,000		209
Japan Government Thirty Year Bond, (Japan),
Series 11, 1.70%, 06/20/2033	JPY	100,000		781
Series 21, 2.30%, 12/20/2035	JPY	704,850		5,834
Series 22, 2.50%, 03/20/2036	JPY	116,250		982
Series 24, 2.50%, 09/20/2036	JPY	46,950		397
Series 33, 2.00%, 09/20/2040	JPY	333,000		2,636
Series 34, 2.20%, 03/20/2041	JPY	23,000		187
Series 40, 1.80%, 09/20/2043	JPY	5,450		41
Series 47, 1.60%, 06/20/2045	JPY	10,000		73
Series 66, 0.40%, 03/20/2050	JPY	302,300		1,593
Series 67, 0.60%, 06/20/2050	JPY	50,000		278
Series 68, 0.60%, 09/20/2050	JPY	126,500		700
Series 71, 0.70%, 06/20/2051	JPY	118,600		669
Series 73, 0.70%, 12/20/2051	JPY	8,000		45
Series 74, 1.00%, 03/20/2052	JPY	104,000		631


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 75, 1.30%, 06/20/2052	JPY	10,000		65
Series 76, 1.40%, 09/20/2052	JPY	3,000		20
Series 77, 1.60%, 12/20/2052	JPY	41,500		291
Series 78, 1.40%, 03/20/2053	JPY	1,000		7
Series 80, 1.80%, 09/20/2053	JPY	8,800		64
Japan Government Twenty Year Bond, (Japan),
Series 80, 2.10%, 06/20/2025	JPY	517,000		3,779
Series 81, 2.00%, 09/20/2025	JPY	10,100		74
Series 105, 2.10%, 09/20/2028	JPY	214,950		1,659
Series 118, 2.00%, 06/20/2030	JPY	6,800		53
Series 122, 1.80%, 09/20/2030	JPY	924,000		7,191
Series 140, 1.70%, 09/20/2032	JPY	188,950		1,473
Series 142, 1.80%, 12/20/2032	JPY	10,900		86
Series 143, 1.60%, 03/20/2033	JPY	4,800		37
Series 148, 1.50%, 03/20/2034	JPY	55,550		426
Series 151, 1.20%, 12/20/2034	JPY	6,500		48
Series 153, 1.30%, 06/20/2035	JPY	10,000		75
Series 164, 0.50%, 03/20/2038	JPY	4,500		30
Series 165, 0.50%, 06/20/2038	JPY	3,450		23
Series 167, 0.50%, 12/20/2038	JPY	12,050		79
Series 172, 0.40%, 03/20/2040	JPY	145,000		910
Series 173, 0.40%, 06/20/2040	JPY	125,000		781
Series 175, 0.50%, 12/20/2040	JPY	80,000		503
Series 176, 0.50%, 03/20/2041	JPY	173,050		1,083
Series 177, 0.40%, 06/20/2041	JPY	40,000		245
Series 178, 0.50%, 09/20/2041	JPY	410,950		2,551
Series 179, 0.50%, 12/20/2041	JPY	55,000		340
Series 180, 0.80%, 03/20/2042	JPY	133,000		865
Series 183, 1.40%, 12/20/2042	JPY	10,000		71
Series 184, 1.10%, 03/20/2043	JPY	13,650		93
Series 185, 1.10%, 06/20/2043	JPY	9,000		61
Series 186, 1.50%, 09/20/2043	JPY	26,500		191
Japan Government Two Year Bond, (Japan),
Series 449, 0.01%, 06/01/2025	JPY	25,000		177
Series 450, 0.01%, 07/01/2025	JPY	32,250		229
Japan Housing Finance Agency, (Japan),
Series 71, 1.75%, 03/19/2026	JPY	200,000		1,467
Series 108, 1.43%, 06/18/2027	JPY	100,000		738
Japan International Cooperation Agency, (Japan), Series 35, 0.08%, 06/19/2026	JPY	200,000		1,414
Japanese Government CPI Linked Bond, (Japan), Series 25, 0.20%, 03/10/2030	JPY	106,412		831
Jersey International Bond, (Jersey), Reg. S, 3.75%, 06/09/2054	GBP	400		430
Junta de Castilla y Leon, (Spain), Reg. S, 0.43%, 04/30/2030	EUR	62		58
Kazakhstan Government International Bond, (Kazakhstan), Reg. S, 1.50%, 09/30/2034	EUR	400		352


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Kingdom of Belgium Government Bond, (Belgium),
Series 44, Reg. S, 5.00%, 03/28/2035 (e)	EUR	580		779
Series 60, Reg. S, 4.25%, 03/28/2041 (e)	EUR	1,580		2,037
Series 64, Reg. S, 4.50%, 03/28/2026 (e)	EUR	1,865		2,151
Series 66, Reg. S, 4.00%, 03/28/2032	EUR	342		420
Series 71, Reg. S, 3.75%, 06/22/2045	EUR	663		809
Series 73, Reg. S, 3.00%, 06/22/2034 (e)	EUR	2,988		3,395
Series 74, Reg. S, 0.80%, 06/22/2025 (e)	EUR	2,159		2,319
Series 75, Reg. S, 1.00%, 06/22/2031 (e)	EUR	997		994
Series 76, Reg. S, 1.90%, 06/22/2038 (e)	EUR	1,740		1,695
Series 77, Reg. S, 1.00%, 06/22/2026 (e)	EUR	1,412		1,509
Series 78, Reg. S, 1.60%, 06/22/2047 (e)	EUR	1,967		1,633
Series 80, Reg. S, 2.15%, 06/22/2066 (e)	EUR	1,021		890
Series 81, Reg. S, 0.80%, 06/22/2027 (e)	EUR	970		1,020
Series 83, Reg. S, 2.25%, 06/22/2057 (e)	EUR	617		558
Series 84, Reg. S, 1.45%, 06/22/2037 (e)	EUR	300		280
Series 85, Reg. S, 0.80%, 06/22/2028 (e)	EUR	2,312		2,400
Series 86, Reg. S, 1.25%, 04/22/2033 (e)	EUR	2,674		2,642
Series 87, Reg. S, 0.90%, 06/22/2029 (e)	EUR	2,254		2,314
Series 88, Reg. S, 1.70%, 06/22/2050 (e)	EUR	706		580
Series 89, Reg. S, 0.10%, 06/22/2030 (e)	EUR	1,501		1,437
Series 90, Reg. S, 0.40%, 06/22/2040 (e)	EUR	1,285		945
Series 91, Reg. S, 0.00%, 10/22/2027 (e)	EUR	3,496		3,549
Series 92, Reg. S, 0.00%, 10/22/2031 (e)	EUR	2,227		2,034
Series 93, Reg. S, 0.65%, 06/22/2071 (e)	EUR	628		311
Series 94, Reg. S, 0.35%, 06/22/2032 (e)	EUR	1,880		1,736
Series 95, Reg. S, 1.40%, 06/22/2053 (e)	EUR	2,045		1,513
Series 96, Reg. S, 2.75%, 04/22/2039 (e)	EUR	200		216


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 97, Reg. S, 3.00%, 06/22/2033 (e)	EUR	800		912
Series 98, Reg. S, 3.30%, 06/22/2054 (e)	EUR	280		315
Series 99, Reg. S, 3.45%, 06/22/2043 (e)	EUR	379		441
Kommunalbanken A/S, (Norway),
Reg. S, 0.05%, 10/24/2029	EUR	7,200		6,896
Reg. S, 0.63%, 04/20/2026	EUR	1,200		1,263
Reg. S, 0.88%, 05/24/2027	EUR	500		522
Kommunekredit, (Denmark), 0.00%, 11/17/2029	EUR	800		765
Reg. S, 0.01%, 05/04/2034	EUR	500		419
Reg. S, 0.50%, 01/24/2025	EUR	460		493
Reg. S, 2.38%, 09/15/2032	EUR	4,000		4,344
Reg. S, 2.88%, 01/19/2035	EUR	7,000		7,796
Kommuninvest I Sverige AB, (Sweden),
Reg. S, 1.50%, 05/12/2025	SEK	3,000		290
Reg. S, 3.38%, 03/15/2027	EUR	500		568
Series 2505, Reg. S, 1.00%, 05/12/2025	SEK	5,000		480
Series 2602, Reg. S, 0.75%, 02/04/2026	SEK	2,880		272
Series 2611, Reg. S, 1.00%, 11/12/2026	SEK	4,000		377
Korea Development Bank (The), (South Korea),
Reg. S, 1.83%, 08/10/2027	SEK	2,000		189
2.63%, 09/08/2027	EUR	6,500		7,106
6.00%, 01/22/2025	IDR	15,000,000		969
Korea Expressway Corp., (South Korea), Reg. S, 3.10%, 06/08/2026		800		752
Korea Housing Finance Corp., (South Korea),
Reg. S, 0.26%, 10/27/2028	EUR	1,900		1,840
Reg. S, 1.96%, 07/19/2026	EUR	1,800		1,928
Korea Hydro & Nuclear Power Co. Ltd., (South Korea), Reg. S, 0.00%, 07/19/2024	CHF	300		353
Korea National Oil Corp., (South Korea),
Reg. S, 0.00%, 10/04/2024	CHF	300		351
Reg. S, 0.26%, 07/30/2027	CHF	300		340
Korea Treasury Bond, (South Korea),
Series 2409, 1.38%, 09/10/2024	KRW	700,550		537
Series 2612, 1.50%, 12/10/2026	KRW	569,490		422
Series 2803, 3.25%, 03/10/2028	KRW	110,000		86
Series 2806, 2.63%, 06/10/2028	KRW	50,000		38
Series 3006, 1.38%, 06/10/2030	KRW	160,000		111
Series 3106, 2.00%, 06/10/2031	KRW	491,310		351
Series 3112, 2.38%, 12/10/2031	KRW	60,920		45
Series 3212, 4.25%, 12/10/2032	KRW	100,000		84
Series 3312, 4.13%, 12/10/2033	KRW	24,390		20


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 4009, 1.50%, 09/10/2040	KRW	277,980		169
Series 4209, 3.25%, 09/10/2042	KRW	135,980		107
Series 4212, 3.00%, 12/10/2042	KRW	70,000		53
Series 4903, 2.00%, 03/10/2049	KRW	14,620		9
Series 5003, 1.50%, 03/10/2050	KRW	587,880		327
Series 5103, 1.88%, 03/10/2051	KRW	60,000		36
Series 5303, 3.25%, 03/10/2053	KRW	151,170		122
Series 5309, 3.63%, 09/10/2053	KRW	29,440		25
Series 7009, 1.63%, 09/10/2070	KRW	72,350		37
Kuntarahoitus OYJ, (Finland),
Reg. S, 0.00%, 10/14/2030	EUR	500		466
Reg. S, 0.05%, 09/06/2029	EUR	400		386
Reg. S, 0.25%, 02/25/2032	EUR	100		92
Reg. S, 0.38%, 12/17/2025	GBP	5,000		5,907
Reg. S, 1.25%, 02/23/2033	EUR	200		196
Reg. S, 3.00%, 09/25/2028	EUR	200		226
Land Baden-Wuerttemberg, (Germany),
Reg. S, 0.01%, 09/02/2030	EUR	218		205
Reg. S, 0.13%, 11/19/2040	EUR	100		70
Reg. S, 0.63%, 01/27/2026	EUR	380		402
Reg. S, 3.00%, 06/27/2033	EUR	200		229
Land Berlin, (Germany),
Reg. S, 0.01%, 07/02/2030	EUR	490		461
Reg. S, 0.05%, 08/06/2040	EUR	200		138
Reg. S, 0.10%, 01/18/2030	EUR	635		608
Reg. S, 0.13%, 11/24/2045	EUR	90		54
Reg. S, 0.15%, 02/22/2036	EUR	100		81
Reg. S, 0.63%, 02/05/2029	EUR	800		807
Reg. S, 0.63%, 01/26/2052	EUR	200		121
Reg. S, 1.63%, 08/02/2032	EUR	180		184
Series 493, Reg. S, 0.63%, 02/08/2027	EUR	220		229
Series 495, Reg. S, 1.38%, 06/05/2037	EUR	260		241
Series 506, Reg. S, 1.38%, 08/27/2038	EUR	115		105
Series 530, Reg. S, 0.10%, 01/18/2041	EUR	80		55
Land Thueringen, (Germany),
Reg. S, 0.05%, 05/06/2030	EUR	260		246
Reg. S, 0.13%, 01/13/2051	EUR	100		52
0.50%, 03/02/2029	EUR	500		500
Latvia Government International Bond, (Latvia),
Reg. S, 0.00%, 03/17/2031	EUR	100		88
Reg. S, 1.13%, 05/30/2028	EUR	390		397
Reg. S, 1.38%, 05/16/2036	EUR	110		96
Reg. S, 1.88%, 02/19/2049	EUR	100		79
Reg. S, 3.50%, 01/17/2028	EUR	650		731
LCR Finance plc, (United Kingdom),
Reg. S, 4.50%, 12/07/2028	GBP	400		526
Reg. S, 4.50%, 12/07/2038	GBP	110		144
5.10%, 03/07/2051	GBP	50		72


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Lithuania Government International Bond, (Lithuania),
Reg. S, 0.25%, 05/06/2025	EUR	70		74
Reg. S, 0.50%, 07/28/2050	EUR	210		115
Reg. S, 0.75%, 05/06/2030	EUR	440		416
Reg. S, 0.95%, 05/26/2027	EUR	500		511
Reg. S, 2.13%, 06/01/2032	EUR	210		212
Reg. S, 3.88%, 06/14/2033	EUR	350		404
Luxembourg Government Bond, (Luxembourg),
Reg. S, 0.00%, 04/28/2025	EUR	110		116
Reg. S, 0.00%, 11/13/2026	EUR	400		413
Reg. S, 0.00%, 04/28/2030	EUR	150		143
Malaysia Government Bond, (Malaysia),
Series 119, 3.91%, 07/15/2026	MYR	500		110
Series 120, 4.07%, 06/15/2050	MYR	100		21
Series 123, 4.46%, 03/31/2053	MYR	100		23
Series 219, 3.89%, 08/15/2029	MYR	6,600		1,447
Series 519, 3.76%, 05/22/2040	MYR	640		133
Malaysia Government Investment Issue, (Malaysia),
Series 119, 4.13%, 07/09/2029	MYR	810		180
Series 122, 4.19%, 10/07/2032	MYR	140		31
Series 222, 5.36%, 05/15/2052	MYR	20		5
Series 417, 4.90%, 05/08/2047	MYR	271		64
Series 617, 4.72%, 06/15/2033	MYR	505		117
Metropolitano de Lisboa EPE, (Portugal),
4.80%, 12/ 07/2027	EUR	700		832
7.30%, 12/23/2025	EUR	500		600
Mexican Bonos, (Mexico),
Series M, 7.50%, 06/03/2027	MXN	17,000		948
Series M, 7.75%, 05/29/2031	MXN	12,000		659
Series M, 7.75%, 11/13/2042	MXN	2,000		103
Series M, 8.50%, 05/31/2029	MXN	1,000		58
Series M, 8.50%, 11/18/2038	MXN	2,000		112
Mexico Government International Bond, (Mexico), 1.13%, 01/17/2030	EUR	1,200		1,135
1.35%, 09/18/2027	EUR	3,075		3,168
1.45%, 10/25/2033	EUR	7,000		6,016
1.63%, 04/08/2026	EUR	200		212
2.13%, 10/25/2051	EUR	2,200		1,466
3.00%, 03/06/2045	EUR	825		705
Reg. S, 3.38%, 02/23/2031	EUR	3,000		3,201
3.50%, 02/12/2034		850		719
3.75%, 04/19/2071		200		133
Reg. S, 4.00%, 03/15/2115		EUR 3,500		2,965
4.40%, 02/12/2052		400		316
4.50%, 04/22/2029		200		197
4.60%, 02/10/2048		250		206
Reg. S, 5.63%, 03/19/2114	GBP	800		785
5.75%, 10/12/2110		80		72
6.75%, 02/06/2024	GBP	100		127


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Ministeries Van de Vlaamse Gemeenschap, (Belgium),
Reg. S, 0.30%, 10/20/2031	EUR	900		823
Reg. S, 1.00%, 01/23/2051	EUR	100		65
Reg. S, 1.38%, 11/21/2033	EUR	500		480
Reg. S, 1.50%, 07/12/2038	EUR	100		89
Reg. S, 1.50%, 04/11/2044	EUR	100		81
Reg. S, 3.00%, 10/12/2032	EUR	100		111
Reg. S, 3.25%, 01/12/2043	EUR	200		218
Reg. S, 4.00%, 09/26/2042	EUR	300		363
Municipal Finance Authority of British Columbia, (Canada),
1.10%, 06/01/2025	CAD	200		144
2.55%, 10/09/2029	CAD	300		215
Nederlandse Waterschapsbank NV, (Netherlands),
Reg. S, 0.00%, 09/08/2031	EUR	930		845
Reg. S, 0.05%, 01/28/2030	EUR	374		356
Reg. S, 0.38%, 09/28/2046	EUR	269		169
Reg. S, 0.75%, 10/04/2041	EUR	200		151
Reg. S, 1.00%, 03/01/2028	EUR	300		312
Reg. S, 1.25%, 05/27/2036	EUR	140		129
Reg. S, 1.50%, 04/27/2038	EUR	440		408
Reg. S, 1.50%, 06/15/2039	EUR	160		145
Reg. S, 2.75%, 12/17/2029	EUR	1,000		1,116
5.20%, 03/31/2025	CAD	1,000		762
Netherlands Government Bond, (Netherlands),
Reg. S, 0.00%, 01/15/2026 (e)	EUR	1,100		1,156
Reg. S, 0.00%, 01/15/2027 (e)	EUR	740		765
Reg. S, 0.00%, 01/15/2029 (e)	EUR	1,980		1,964
Reg. S, 0.00%, 07/15/2030 (e)	EUR	1,014		974
Reg. S, 0.00%, 07/15/2031 (e)	EUR	1,827		1,712
Reg. S, 0.00%, 01/15/2038 (e)	EUR	1,332		1,039
Reg. S, 0.00%, 01/15/2052 (e)	EUR	1,594		903
Reg. S, 0.25%, 07/15/2025 (e)	EUR	2,884		3,074
Reg. S, 0.25%, 07/15/2029 (e)	EUR	799		796
Reg. S, 0.50%, 07/15/2026 (e)	EUR	1,140		1,205
Reg. S, 0.50%, 07/15/2032 (e)	EUR	2,160		2,059
Reg. S, 0.50%, 01/15/2040 (e)	EUR	1,720		1,405
Reg. S, 0.75%, 07/15/2027 (e)	EUR	1,913		2,013
Reg. S, 0.75%, 07/15/2028 (e)	EUR	2,880		2,991
Reg. S, 2.00%, 01/15/2054 (e)	EUR	770		766
Reg. S, 2.50%, 01/15/2033 (e)	EUR	2,288		2,571
Reg. S, 2.50%, 07/15/2033 (e)	EUR	899		1,007
Reg. S, 2.75%, 01/15/2047 (e)	EUR	1,877		2,167
Reg. S, 3.25%, 01/15/2044 (e)	EUR	500		614
Reg. S, 3.75%, 01/15/2042 (e)	EUR	1,842		2,396
Reg. S, 4.00%, 01/15/2037 (e)	EUR	974		1,254
Reg. S, 5.50%, 01/15/2028 (e)	EUR	1,366		1,700
New South Wales Treasury Corp., (Australia),
Reg. S, 2.00%, 03/20/2031	AUD	200		117


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 2.00%, 03/08/2033	AUD	100		55
Reg. S, 2.50%, 11/22/2032	AUD	50		29
Reg. S, 3.00%, 02/20/2030	AUD	270		173
New Zealand Government Bond, (New Zealand),
Series 425, Reg. S, 2.75%, 04/15/2025	NZD	170		105
Series 429, 3.00%, 04/20/2029	NZD	110		66
Series 528, 0.25%, 05/15/2028	NZD	700		374
Series 530, 4.50%, 05/15/2030	NZD	30		19
Series 531, 1.50%, 05/15/2031	NZD	20		10
Series 532, 2.00%, 05/15/2032	NZD	80		42
Series 534, 4.25%, 05/15/2034	NZD	50		31
Series 551, 2.75%, 05/15/2051	NZD	40		18
New Zealand Local Government Funding Agency Bond, (New Zealand),
Reg. S, 2.00%, 04/15/2037	NZD	250		110
3.50%, 04/14/2033	NZD	300		170
Northern Territory Treasury Corp., (Australia), Reg. S, 2.00%, 04/21/2031	AUD	300		174
Norway Government Bond, (Norway),
Series 477, Reg. S, 1.75%, 03/13/2025 (e)	NOK	6,500		624
Series 478, Reg. S, 1.50%, 02/19/2026 (e)	NOK	4,500		424
Series 479, Reg. S, 1.75%, 02/17/2027 (e)	NOK	3,070		288
Series 480, Reg. S, 2.00%, 04/26/2028 (e)	NOK	6,510		609
Series 481, Reg. S, 1.75%, 09/06/2029 (e)	NOK	3,040		276
Series 482, Reg. S, 1.38%, 08/19/2030 (e)	NOK	7,050		615
Series 483, Reg. S, 1.25%, 09/17/2031 (e)	NOK	7,444		634
Series 484, Reg. S, 2.13%, 05/18/2032 (e)	NOK	5,867		529
Series 485, Reg. S, 3.50%, 10/06/2042 (e)	NOK	1,280		133
Series 486, Reg. S, 3.00%, 08/15/2033 (e)	NOK	6,100		587
OMERS Finance Trust, (Canada),
0.45%, 05/13/2025 (e)	EUR	250		266
Reg. S, 0.45%, 05/13/2025	EUR	3,200		3,402
5.50%, 11/15/2033 (e)		700		742
Ontario Electricity Financial Corp., (Canada), Series 40, Zero Coupon, 04/11/2031	CAD	1,500		856
Ontario Teachers’ Finance Trust, (Canada),
Reg. S, 0.10%, 05/19/2028	EUR	100		98
Reg. S, 0.50%, 05/06/2025	EUR	6,700		7,128
Reg. S, 0.90%, 05/20/2041	EUR	1,650		1,255
Reg. S, 1.85%, 05/03/2032	EUR	10,000		10,073
Reg. S, 3.30%, 10/05/2029	EUR	800		900


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Panama Government International Bond, (Panama),
3.30%, 01/19/2033		200		158
4.50%, 01/19/2063		400		261
Peruvian Government International Bond, (Peru),
1.25%, 03/11/2033	EUR	2,000		1,730
Reg. S, 1.95%, 11/17/2036	EUR	1,000		829
Reg. S, 2.75%, 01/30/2026	EUR	825		891
2.78%, 01/23/2031		110		96
3.00%, 01/15/2034		570		481
3.23%, 07/28/2121		25		16
3.55%, 03/10/2051		75		57
Reg. S, 6.90%, 08/12/2037	PEN	1,000		272
Philippine Government International Bond, (Philippines),
1.20%, 04/28/2033	EUR	5,000		4,418
1.65%, 06/10/2031		200		164
1.75%, 04/28/2041	EUR	1,000		770
3.20%, 07/06/2046		200		154
5.61%, 04/13/2033		700		747
9.50%, 02/02/2030		100		126
Portugal Obrigacoes do Tesouro OT, (Portugal),
Reg. S, 0.30%, 10/17/2031 (e)	EUR	1,092		1,015
Reg. S, 0.48%, 10/18/2030 (e)	EUR	182		176
Reg. S, 0.70%, 10/15/2027 (e)	EUR	1,675		1,745
Reg. S, 0.90%, 10/12/2035 (e)	EUR	861		760
Reg. S, 1.00%, 04/12/2052 (e)	EUR	530		338
Reg. S, 1.15%, 04/11/2042 (e)	EUR	395		314
Reg. S, 1.65%, 07/16/2032 (e)	EUR	1,210		1,234
Reg. S, 1.95%, 06/15/2029 (e)	EUR	1,803		1,951
Reg. S, 2.13%, 10/17/2028 (e)	EUR	1,047		1,148
Reg. S, 2.88%, 10/15/2025 (e)	EUR	1,500		1,665
Reg. S, 2.88%, 07/21/2026 (e)	EUR	1,710		1,920
Reg. S, 3.50%, 06/18/2038 (e)	EUR	450		519
Reg. S, 3.88%, 02/15/2030 (e)	EUR	1,020		1,219
Reg. S, 4.10%, 04/15/2037 (e)	EUR	837		1,029
Reg. S, 4.10%, 02/15/2045 (e)	EUR	770		963
Reg. S, 4.13%, 04/14/2027 (e)	EUR	480		560
Series 15Y, Reg. S, 2.25%, 04/18/2034 (e)	EUR	656		690
Province of Alberta Canada, (Canada),
Reg. S, 1.40%, 02/20/2029	SEK	2,000		180
2.20%, 06/01/2026	CAD	600		436
Province of British Columbia Canada, (Canada),
2.80%, 06/18/2048	CAD	400		245
7.25%, 09/01/2036		300		379
Province of Manitoba Canada, (Canada), 2.75%, 06/02/2029	CAD	500		363
Province of Nova Scotia Canada, (Canada), 3.45%, 06/01/2045	CAD	200		136


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Province of Ontario Canada, (Canada),
Reg. S, 0.01%, 11/25/2030	EUR	3,000		2,747
Reg. S, 0.25%, 12/15/2026	GBP	1,900		2,164
Reg. S, 0.25%, 06/09/2031	EUR	3,000		2,748
Reg. S, 0.38%, 04/08/2027	EUR	1,000		1,027
Reg. S, 0.63%, 04/17/2025	EUR	400		428
Reg. S, 0.88%, 01/21/2025	EUR	1,000		1,076
5.60%, 06/02/2035	CAD	300		262
Province of Quebec Canada, (Canada),
Reg. S, 0.00%, 10/15/2029	EUR	1,000		947
Reg. S, 0.25%, 05/05/2031	EUR	8,000		7,375
Reg. S, 0.50%, 01/25/2032	EUR	3,000		2,765
Reg. S, 0.88%, 05/04/2027	EUR	3,500		3,647
Reg. S, 0.88%, 07/05/2028	EUR	1,025		1,047
Reg. S, 2.38%, 01/22/2024	EUR	425		469
3.50%, 12/01/2045	CAD	200		139
4.50%, 09/08/2033		610		618
Series PD, 7.50%, 09/15/2029		100		117
Province of Saskatchewan Canada, (Canada), 3.30%, 06/02/2048	CAD	400		267
Queensland Treasury Corp., (Australia),
Reg. S, 1.75%, 08/21/2031 (e)	AUD	600		343
Reg. S, 2.00%, 08/22/2033 (e)	AUD	70		38
Series 27, Reg. S, 2.75%, 08/20/2027 (e)	AUD	400		262
Regiao Autonoma Madeira, (Portugal), 0.94%, 05/29/2032	EUR	200		188
Regie Autonome des Transports Parisiens EPIC, (France),
Reg. S, 0.38%, 06/15/2024	EUR	300		326
Reg. S, 0.40%, 12/19/2036	EUR	1,006		927
Reg. S, 0.88%, 05/25/2027	EUR	100		104
Reg. S, 1.88%, 05/25/2032	EUR	100		102
Reg. S, 3.25%, 04/11/2033	EUR	100		113
Region of Ile de France, (France),
Reg. S, 0.00%, 04/20/2028	EUR	200		197
Reg. S, 0.50%, 06/14/2025	EUR	200		213
Reg. S, 0.63%, 04/23/2027	EUR	200		206
Reg. S, 2.23%, 07/19/2032	EUR	200		210
Region Wallonne Belgium, (Belgium),
Reg. S, 0.25%, 05/03/2026	EUR	300		312
Reg. S, 0.38%, 10/22/2031	EUR	100		91
Reg. S, 0.50%, 06/22/2037	EUR	100		78
Reg. S, 1.05%, 06/22/2040	EUR	100		78
Reg. S, 1.25%, 05/03/2034	EUR	200		185
Reg. S, 1.38%, 04/06/2032	EUR	200		196
Reg. S, 3.25%, 06/22/2033	EUR	400		449
Reg. S, 3.50%, 03/15/2043	EUR	100		111
Republic of Austria Government Bond, (Austria),
Reg. S, 0.00%, 04/20/2025 (e)	EUR	1,300		1,384
Reg. S, 0.00%, 10/20/2028 (e)	EUR	490		484
Reg. S, 0.00%, 02/20/2030 (e)	EUR	1,178		1,124


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 0.00%, 02/20/2031 (e)		EUR 2,094		1,941
Reg. S, 0.00%, 10/20/2040 (e)		EUR 460		317
Reg. S, 0.25%, 10/20/2036 (e)		EUR 1,450		1,173
Reg. S, 0.50%, 04/20/2027 (e)		EUR 1,100		1,145
Reg. S, 0.50%, 02/20/2029 (e)		EUR 1,219		1,227
Reg. S, 0.70%, 04/20/2071 (e)		EUR 601		315
Reg. S, 0.75%, 10/20/2026 (e)		EUR 1,000		1,056
Reg. S, 0.75%, 02/20/2028 (e)		EUR 2,740		2,839
Reg. S, 0.75%, 03/20/2051 (e)		EUR 1,362		914
Reg. S, 0.85%, 06/30/2120 (e)		EUR 300		154
Reg. S, 0.90%, 02/20/2032 (e)		EUR 1,890		1,835
Reg. S, 1.20%, 10/20/2025 (e)		EUR 1,760		1,899
Reg. S, 1.50%, 02/20/2047 (e)		EUR 895		757
Reg. S, 1.50%, 11/02/2086 (e)		EUR 190		131
Reg. S, 1.85%, 05/23/2049 (e)		EUR 570		513
Reg. S, 2.00%, 07/15/2026 (e)		EUR 270		295
Reg. S, 2.10%, 09/20/2117 (e)		EUR 756		660
Reg. S, 2.40%, 05/23/2034 (e)		EUR 1,023		1,105
Reg. S, 2.90%, 02/20/2033 (e)		EUR 930		1,052
Reg. S, 3.15%, 06/20/2044 (e)		EUR 1,048		1,204
Reg. S, 3.15%, 10/20/2053 (e)		EUR 300		346
Reg. S, 3.80%, 01/26/2062 (e)		EUR 290		383
Reg. S, 4.15%, 03/15/2037 (e)	EUR	1,445		1,827
Reg. S, 4.85%, 03/15/2026 (e)		EUR 461		534
Reg. S, 6.25%, 07/15/2027	EUR	783		977
Republic of Austria Government International Bond, (Austria), Reg. S, 5.38%, 12/01/2034 (e)	CAD	200		170
Republic of Italy Government International Bond, (Italy), 1.25%, 02/17/2026		2,000		1,849
2.88%, 10/17/2029		200		179
3.88%, 05/06/2051		200		143
Reg. S, (ICE EURIBOR Swap Rate 30 Year + 0.00%), 4.25%, 06/28/2029 (aa)	EUR	1,000		1,162
Reg. S, 5.13%, 07/31/2024	EUR	400		444
5.20%, 07/31/2034	EUR	200		245
Reg. S, 6.00%, 08/04/2028	GBP	1,050		1,403
Republic of Poland Government Bond, (Poland),
Series 425, 0.75%, 04/25/2025	PLN	1,810		435
Series 428, 2.75%, 04/25/2028	PLN	6,310		1,470
Series 429, 5.75%, 04/25/2029	PLN	530		139
Series 432, 1.75%, 04/25/2032	PLN	4,323		854
Series 447, 4.00%, 04/25/2047	PLN	373		77
Series 725, 3.25%, 07/25/2025	PLN	4,160		1,029
Series 726, 2.50%, 07/25/2026	PLN	4,870		1,165
Series 727, 2.50%, 07/25/2027	PLN	8,450		1,985
Series 728, 7.50%, 07/25/2028	PLN	6,150		1,720
Series 1026, 0.25%, 10/25/2026	PLN	6,040		1,349
Series 1029, 2.75%, 10/25/2029	PLN	3,773		856
Series 1030, 1.25%, 10/25/2030	PLN	5,923		1,191
Series 1033, 6.00%, 10/25/2033	PLN	1,730		466


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Republic of Poland Government International Bond, (Poland),
Reg. S, 0.00%, 02/10/2025	EUR	160		170
Reg. S, 0.88%, 05/10/2027	EUR	1,900		1,974
Reg. S, 1.13%, 08/07/2026	EUR	1,825		1,913
Reg. S, 1.38%, 10/22/2027	EUR	6,000		6,282
Reg. S, 2.00%, 03/08/2049	EUR	53		41
Reg. S, 2.38%, 01/18/2036	EUR	1,000		965
Reg. S, 2.75%, 05/25/2032	EUR	3,000		3,196
Reg. S, 4.25%, 02/14/2043	EUR	5,000		5,803
Reg. S, 5.25%, 01/20/2025	EUR	1,000		1,123
Romania Government Bond, (Romania),
Series 5Y, 3.25%, 06/24/2026	RON	2,215		459
Series 5Y, 3.65%, 07/28/2025	RON	9,970		2,133
Series 5Y, 4.25%, 04/28/2036	RON	1,215		223
Series 6Y, 8.75%, 10/30/2028	RON	2,100		513
Series 7Y, 2.50%, 10/25/2027	RON	1,350		262
Series 8Y, 4.15%, 01/26/2028	RON	1,930		398
Series 10YR, 4.15%, 10/24/2030	RON	3,055		600
Series 10Y, 6.70%, 02/25/2032	RON	3,130		711
Series 10Y, 8.25%, 09/29/2032	RON	3,330		831
Series 15Y, 7.90%, 02/24/2038	RON	1,650		421
Romanian Government International Bond, (Romania),
Reg. S, 1.38%, 12/02/2029	EUR	2,000		1,816
Reg. S, 1.75%, 07/13/2030	EUR	1,000		890
Reg. S, 2.00%, 04/14/2033	EUR	1,500		1,236
Reg. S, 2.12%, 07/16/2031	EUR	3,000		2,633
Reg. S, 2.13%, 03/07/2028	EUR	3,000		3,001
Reg. S, 2.38%, 04/19/2027	EUR	2,000		2,080
Reg. S, 2.63%, 12/02/2040	EUR	1,000		740
Reg. S, 2.75%, 10/29/2025	EUR	6,000		6,472
Reg. S, 2.75%, 02/26/2026	EUR	15		16
Reg. S, 2.75%, 04/14/2041	EUR	800		592
Reg. S, 2.88%, 10/28/2024	EUR	1,475		1,619
Reg. S, 2.88%, 04/13/2042	EUR	1,000		743
Reg. S, 3.38%, 02/08/2038	EUR	1,425		1,229
Reg. S, 3.38%, 01/28/2050	EUR	1,265		950
Reg. S, 3.62%, 05/26/2030	EUR	1,875		1,899
Reg. S, 3.75%, 02/07/2034	EUR	1,000		949
Reg. S, 3.88%, 10/29/2035	EUR	5,000		4,696
Reg. S, 4.63%, 04/03/2049	EUR	2,000		1,849
Reg. S, 5.00%, 09/27/2026	EUR	1,000		1,132
Reg. S, 6.63%, 09/27/2029	EUR	2,000		2,357
Saudi Government International Bond, (Saudi Arabia),
Reg. S, 0.75%, 07/09/2027	EUR	2,200		2,226
Reg. S, 2.00%, 07/09/2039	EUR	1,200		1,023
SFIL SA, (France),
Reg. S, 0.05%, 06/04/2029	EUR	1,300		1,248
Reg. S, 1.50%, 03/05/2032	EUR	300		301
Reg. S, 2.88%, 01/18/2028	EUR	1,000		1,113


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Singapore Government Bond, (Singapore), 1.88%, 03/01/2050	SGD	53		34
2.13%, 06/01/2026	SGD	134		99
2.38%, 07/01/2039	SGD	40		29
2.75%, 04/01/2042	SGD	30		23
2.75%, 03/01/2046	SGD	60		45
2.88%, 07/01/2029	SGD	150		114
2.88%, 09/01/2030	SGD	1,215		928
Reg. S, 3.00%, 08/01/2072	SGD	20		16
3.38%, 09/01/2033	SGD	340		272
Slovakia Government Bond, (Slovakia),
Series 231, 0.63%, 05/22/2026	EUR	860		900
Series 232, Reg. S, 1.88%, 03/09/2037	EUR	160		145
Series 233, Reg. S, 2.00%, 10/17/2047	EUR	280		228
Series 234, Reg. S, 1.00%, 06/12/2028	EUR	700		713
Series 235, Reg. S, 2.25%, 06/12/2068	EUR	99		78
Series 236, Reg. S, 0.75%, 04/09/2030	EUR	420		406
Series 238, Reg. S, 0.25%, 05/14/2025	EUR	690		731
Series 239, Reg. S, 1.00%, 05/14/2032	EUR	718		668
Series 241, Reg. S, 0.13%, 06/17/2027	EUR	162		163
Series 242, Reg. S, 0.38%, 04/21/2036	EUR	379		289
Series 243, Reg. S, 1.00%, 10/13/2051	EUR	280		161
Series 244, Reg. S, 4.00%, 10/19/2032	EUR	80		94
Series 245, Reg. S, 3.75%, 02/23/2035	EUR	840		953
Series 246, Reg. S, 4.00%, 02/23/2043	EUR	160		183
Slovenia Government Bond, (Slovenia),
Series RS70, Reg. S, 5.13%, 03/30/2026	EUR	470		543
Series RS74, Reg. S, 1.50%, 03/25/2035	EUR	120		112
Series RS76, Reg. S, 3.13%, 08/07/2045	EUR	160		174
Series RS77, Reg. S, 2.25%, 03/03/2032	EUR	130		137
Series RS78, Reg. S, 1.75%, 11/03/2040	EUR	212		189
Series RS80, Reg. S, 1.00%, 03/06/2028	EUR	500		516
Series RS82, Reg. S, 0.28%, 01/14/2030	EUR	586		558
Series RS84, Reg. S, 0.88%, 07/15/2030	EUR	190		186
Series RS85, Reg. S, 0.49%, 10/20/2050	EUR	190		108
Series RS87, Reg. S, 0.69%, 03/03/2081	EUR	121		64
Series RS91, Reg. S, 3.63%, 03/11/2033	EUR	760		886
SNCF Reseau, (France),
Reg. S, 0.88%, 01/22/2029	EUR	200		202
Reg. S, 1.00%, 11/09/2031	EUR	300		290
Reg. S, 1.13%, 05/19/2027	EUR	500		525
Reg. S, 1.13%, 05/25/2030	EUR	500		501
Reg. S, 1.50%, 05/29/2037	EUR	300		272


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 2.00%, 11/12/2026	CHF	300		363
Reg. S, 2.00%, 02/05/2048	EUR	100		83
Reg. S, 2.25%, 12/20/2047	EUR	100		89
4.70%, 06/01/2035	CAD	100		79
Reg. S, 4.83%, 03/25/2060	GBP	2,000		2,566
Reg. S, 5.00%, 10/10/2033	EUR	200		258
Reg. S, 5.00%, 03/11/2052	GBP	145		190
Reg. S, 5.25%, 12/07/2028	GBP	300		404
Societe Du Grand Paris EPIC, (France),
Reg. S, 0.00%, 11/25/2030	EUR	400		367
Reg. S, 0.30%, 09/02/2036	EUR	200		156
Reg. S, 0.70%, 10/15/2060	EUR	300		140
Reg. S, 0.88%, 05/10/2046	EUR	100		67
Reg. S, 1.00%, 11/26/2051	EUR	200		124
Reg. S, 1.13%, 10/22/2028	EUR	700		722
Reg. S, 1.13%, 05/25/2034	EUR	200		184
Reg. S, 1.70%, 05/25/2050	EUR	300		233
Reg. S, 3.50%, 05/25/2043	EUR	400		449
Reg. S, 3.70%, 05/25/2053	EUR	200		230
Societe Nationale SNCF SACA, (France),
Reg. S, 0.63%, 04/17/2030	EUR	500		483
Reg. S, 1.00%, 05/25/2040	EUR	100		77
Reg. S, 1.00%, 01/19/2061	EUR	100		50
Reg. S, 1.50%, 02/02/2029	EUR	300		312
Reg. S, 3.38%, 05/25/2033	EUR	400		458
Reg. S, 5.38%, 03/18/2027	GBP	400		525
South Australian Government Financing Authority, (Australia), Reg. S, 2.00%, 05/23/2036	AUD	89		45
Spain Government Bond, (Spain), 0.00%, 01/31/2025	EUR	2,499		2,670
0.00%, 05/31/2025	EUR	2,600		2,754
0.00%, 01/31/2026	EUR	3,200		3,342
Reg. S, 0.00%, 01/31/2028 (e)	EUR	3,878		3,866
Reg. S, 0.10%, 04/30/2031 (e)	EUR	1,030		940
Reg. S, 0.50%, 04/30/2030 (e)	EUR	6,473		6,254
Reg. S, 0.50%, 10/31/2031 (e)	EUR	4,438		4,122
Reg. S, 0.60%, 10/31/2029 (e)	EUR	980		965
Reg. S, 0.70%, 04/30/2032 (e)	EUR	3,110		2,897
Reg. S, 0.80%, 07/30/2027 (e)	EUR	3,441		3,575
0.80%, 07/30/2029	EUR	1,100		1,101
Reg. S, 0.85%, 07/30/2037 (e)	EUR	4,393		3,569
Reg. S, 1.00%, 07/30/2042 (e)	EUR	1,293		955
Reg. S, 1.00%, 10/31/2050 (e)	EUR	3,300		2,056
Reg. S, 1.20%, 10/31/2040 (e)	EUR	2,511		1,984
Reg. S, 1.25%, 10/31/2030 (e)	EUR	1,058		1,063
Reg. S, 1.30%, 10/31/2026 (e)	EUR	2,251		2,400
Reg. S, 1.40%, 04/30/2028 (e)	EUR	3,456		3,639
Reg. S, 1.40%, 07/30/2028 (e)	EUR	2,991		3,141
Reg. S, 1.45%, 10/31/2027 (e)	EUR	4,440		4,711
Reg. S, 1.45%, 04/30/2029 (e)	EUR	5,130		5,349
Reg. S, 1.45%, 10/31/2071 (e)	EUR	599		335
Reg. S, 1.50%, 04/30/2027 (e)	EUR	1,325		1,414
Reg. S, 1.60%, 04/30/2025 (e)	EUR	2,810		3,045


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 1.85%, 07/30/2035 (e)	EUR	2,233		2,163
Reg. S, 1.90%, 10/31/2052 (e)	EUR	1,512		1,153
Reg. S, 1.95%, 04/30/2026 (e)	EUR	2,228		2,421
Reg. S, 1.95%, 07/30/2030 (e)	EUR	1,244		1,313
Reg. S, 2.15%, 10/31/2025 (e)	EUR	3,525		3,852
Reg. S, 2.35%, 07/30/2033 (e)	EUR	2,341		2,456
Reg. S, 2.55%, 10/31/2032 (e)	EUR	3,290		3,543
2.80%, 05/31/2026	EUR	1,600		1,773
Reg. S, 2.90%, 10/31/2046 (e)	EUR	1,463		1,459
Reg. S, 3.15%, 04/30/2033 (e)	EUR	4,020		4,511
Reg. S, 3.45%, 07/30/2043 (e)	EUR	1,483		1,622
Reg. S, 3.45%, 07/30/2066 (e)	EUR	1,660		1,709
Reg. S, 3.55%, 10/31/2033 (e)	EUR	615		711
Reg. S, 4.20%, 01/31/2037 (e)	EUR	773		943
Reg. S, 4.65%, 07/30/2025 (e)	EUR	1,956		2,216
Reg. S, 4.70%, 07/30/2041 (e)	EUR	1,404		1,812
Reg. S, 4.90%, 07/30/2040 (e)	EUR	2,689		3,514
Reg. S, 5.15%, 10/31/2028 (e)	EUR	2,576		3,177
Reg. S, 5.15%, 10/31/2044 (e)	EUR	1,721		2,362
5.75%, 07/30/2032	EUR	1,706		2,298
Reg. S, 5.90%, 07/30/2026 (e)	EUR	2,920		3,482
6.00%, 01/31/2029	EUR	1,180		1,514
Series 30Y, Reg. S, 2.70%, 10/31/2048 (e)	EUR	2,141		2,030
State of Brandenburg, (Germany),
Reg. S, 0.13%, 01/26/2046	EUR	259		155
Reg. S, 1.45%, 11/26/2038	EUR	180		164
Reg. S, 2.50%, 01/25/2029	EUR	200		221
Reg. S, 3.00%, 02/27/2032	EUR	200		228
State of Bremen, (Germany),
Series 215, Reg. S, 1.20%, 01/30/2034	EUR	40		39
Series 224, Reg. S, 0.40%, 08/20/2049	EUR	30		18
Series 232, Reg. S, 0.55%, 02/04/2050	EUR	30		18
Series 247, Reg. S, 0.15%, 09/14/2040	EUR	310		217
Series 250, Reg. S, 0.01%, 10/06/2028	EUR	640		629
Series 258, Reg. S, 0.50%, 05/06/2041	EUR	138		101
State of Hesse, (Germany),
Reg. S, 0.13%, 10/10/2031	EUR	203		186
Reg. S, 0.88%, 12/10/2024	EUR	600		648
Series 1801, Reg. S, 0.63%, 08/02/2028	EUR	230		234
Series 2006, Reg. S, 0.01%, 03/11/2030	EUR	100		95
Series 2301, 2.88%, 01/10/2033	EUR	800		906
State of Israel, (Israel), 3.38%, 01/15/2050		200		142
State of Lower Austria, (Austria), Reg. S, 3.63%, 10/04/2033	EUR	100		118
State of Lower Saxony, (Germany),
Reg. S, 0.00%, 02/11/2027	EUR	1,310		1,339
Reg. S, 0.01%, 01/10/2031	EUR	479		445
Reg. S, 0.05%, 03/09/2035	EUR	277		228
Reg. S, 0.38%, 05/14/2029	EUR	500		495
Reg. S, 1.50%, 10/17/2029	EUR	200		209


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 884, Reg. S, 0.88%, 10/25/2028	EUR	320		328
Series 898, Reg. S, 0.01%, 08/13/2030	EUR	149		140
State of North Rhine-Westphalia Germany, (Germany),
Reg. S, 0.00%, 01/15/2029	EUR	161		157
Reg. S, 0.20%, 04/09/2030	EUR	694		666
Reg. S, 0.20%, 01/27/2051	EUR	270		143
Reg. S, 0.38%, 09/02/2050	EUR	385		219
Reg. S, 0.50%, 11/25/2039	EUR	110		84
Reg. S, 0.60%, 06/04/2041	EUR	300		225
Reg. S, 0.75%, 08/16/2041	EUR	360		276
Reg. S, 0.80%, 07/30/2049	EUR	100		67
Reg. S, 0.90%, 11/15/2028	EUR	600		616
Reg. S, 0.95%, 03/13/2028	EUR	144		150
Reg. S, 0.95%, 01/10/2121	EUR	195		98
Reg. S, 1.00%, 10/16/2046	EUR	300		223
Reg. S, 1.38%, 01/15/2120	EUR	434		250
Reg. S, 1.45%, 02/16/2043	EUR	100		85
Reg. S, 1.45%, 01/19/2122	EUR	150		87
Reg. S, 1.65%, 02/22/2038	EUR	480		456
Reg. S, 1.65%, 05/16/2047	EUR	220		188
Reg. S, 1.75%, 10/26/2057	EUR	172		137
Reg. S, 1.75%, 07/11/2068	EUR	104		79
Reg. S, 1.95%, 09/26/2078	EUR	254		199
Reg. S, 2.13%, 06/13/2025	GBP	1,000		1,228
Reg. S, 2.15%, 03/21/2119	EUR	376		303
Reg. S, 2.75%, 01/15/2032	EUR	430		482
Reg. S, 2.90%, 01/15/2053	EUR	390		417
Reg. S, 3.40%, 03/07/2073	EUR	180		215
Series 15YR, Reg. S, 0.00%, 10/12/2035	EUR	654		524
Series 15YR, Reg. S, 1.10%, 03/13/2034	EUR	240		229
Series 1250, Reg. S, 2.38%, 05/13/2033	EUR	350		380
Series 1409, Reg. S, 0.50%, 04/16/2026	EUR	980		1,031
Series 1439, Reg. S, 1.55%, 06/16/2048	EUR	200		165
State of Rhineland-Palatinate, (Germany),
Reg. S, 0.01%, 01/21/2031	EUR	410		381
Reg. S, 0.38%, 01/26/2027	EUR	220		228
Reg. S, 0.38%, 03/10/2051	EUR	200		113
Reg. S, 0.75%, 01/19/2026	EUR	725		770
State of Saarland, (Germany), Reg. S, 0.05%, 11/05/2040	EUR	68		47
State of Saxony-Anhalt, (Germany),
Reg. S, 0.00%, 03/10/2031	EUR	280		259
0.35%, 02/09/2032	EUR	100		93
Reg. S, 0.50%, 03/24/2051	EUR	123		73
Series 10Y, Reg. S, 0.75%, 01/29/2029	EUR	200		203
State of Schleswig-Holstein Germany, (Germany),
Reg. S, 0.05%, 07/08/2031	EUR	400		368
Reg. S, 0.13%, 06/12/2029	EUR	331		322


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 0.38%, 02/08/2027	EUR	310		321
Reg. S, 0.50%, 03/22/2029	EUR	140		140
Reg. S, 0.63%, 08/31/2028	EUR	140		142
State of the Grand-Duchy of Luxembourg, (Luxembourg),
Reg. S, 0.00%, 03/24/2031	EUR	103		96
Reg. S, 0.00%, 09/14/2032	EUR	400		359
Reg. S, 1.38%, 05/25/2029	EUR	380		399
Reg. S, 1.75%, 05/25/2042	EUR	360		337
States of Guernsey Bond, (Guernsey), Reg. S, 3.38%, 12/12/2046	GBP	200		205
Svensk Exportkredit AB, (Sweden),
Zero Coupon, 05/11/2037		224		115
Reg. S, 2.00%, 06/30/2027	EUR	1,000		1,079
Sweden Government Bond, (Sweden),
Series 1053, Reg. S, 3.50%, 03/30/2039	SEK	5,820		674
Series 1056, Reg. S, 2.25%, 06/01/2032	SEK	9,200		930
Series 1058, Reg. S, 2.50%, 05/12/2025 (e)	SEK	5,100		503
Series 1059, Reg. S, 1.00%, 11/12/2026	SEK	17,300		1,655
Series 1060, Reg. S, 0.75%, 05/12/2028 (e)	SEK	16,175		1,517
Series 1061, Reg. S, 0.75%, 11/12/2029 (e)	SEK	7,090		655
Series 1062, Reg. S, 0.13%, 05/12/2031 (e)	SEK	5,705		494
Series 1063, Reg. S, 0.50%, 11/24/2045	SEK	2,100		147
Series 1064, Reg. S, 1.38%, 06/23/2071 (e)	SEK	570		38
Series 1065, Reg. S, 1.75%, 11/11/2033	SEK	2,830		273
Swiss Confederation Government Bond, (Switzerland),
Reg. S, 0.00%, 06/22/2029	CHF	670		765
Reg. S, 0.00%, 06/26/2034	CHF	1,429		1,580
Reg. S, 0.00%, 07/24/2039	CHF	1,059		1,132
Reg. S, 0.50%, 05/27/2030	CHF	540		633
Reg. S, 0.50%, 06/27/2032	CHF	990		1,157
Reg. S, 0.50%, 06/28/2045	CHF	570		659
Reg. S, 0.50%, 05/24/2055	CHF	372		436
Reg. S, 0.50%, 05/30/2058	CHF	160		190
Reg. S, 1.25%, 05/28/2026	CHF	550		658
Reg. S, 1.25%, 06/27/2037	CHF	330		422
Reg. S, 1.50%, 07/24/2025	CHF	190		227
Reg. S, 1.50%, 04/30/2042	CHF	240		326
Reg. S, 2.00%, 06/25/2064	CHF	361		673
Reg. S, 2.25%, 06/22/2031	CHF	52		69
Reg. S, 3.25%, 06/27/2027	CHF	510		656
Reg. S, 4.00%, 04/08/2028	CHF	663		894
Reg. S, 4.00%, 01/06/2049	CHF	210		445


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE$)


Thailand Government Bond, (Thailand), 1.45%, 12/17/2024	THB	2,270		66
1.59%, 12/17/2035	THB	1,400		36
1.60%, 12/17/2029	THB	54,000		1,500
2.13%, 12/17/2026	THB	3,024		88
2.40%, 03/17/2029	THB	2,000		58
2.65%, 06/17/2028	THB	1,000		30
2.88%, 06/17/2046	THB	1,430		38
3.40%, 06/17/2036	THB	4,000		124
3.45%, 06/17/2043	THB	980		30
3.65%, 06/20/2031	THB	3,480		109
4.00%, 06/17/2066	THB	1,620		49
Series THAI, 2.75%, 06/17/2052	THB	740		19
Tokyo Metropolitan Government, (Japan), Reg. S, 0.75%, 07/16/2025		1,000		937
Treasury Corp. of Victoria, (Australia),
Reg. S, 2.25%, 09/15/2033	AUD	40		22
2.25%, 11/20/2034	AUD	500		267
2.25%, 11/20/2041	AUD	500		227
Reg. S, 2.50%, 10/22/2029	AUD	200		125
Reg. S, 4.75%, 09/15/2036	AUD	100		67
5.50%, 11/17/2026	AUD	100		71
Tyollisyysrahasto, (Finland), 0.01%, 06/16/2027	EUR	200		203
UNEDIC ASSEO, (France),
Reg. S, 0.00%, 03/05/2030	EUR	100		95
Reg. S, 0.00%, 11/19/2030	EUR	200		186
Reg. S, 0.01%, 05/25/2031	EUR	1,000		918
Reg. S, 0.10%, 11/25/2026	EUR	600		617
Reg. S, 0.25%, 11/25/2029	EUR	1,000		971
Reg. S, 0.25%, 07/16/2035	EUR	300		250
Reg. S, 0.50%, 05/25/2036	EUR	300		249
Reg. S, 0.63%, 03/03/2026	EUR	100		106
Reg. S, 1.25%, 10/21/2027	EUR	200		211
Reg. S, 1.25%, 05/25/2033	EUR	200		196
Reg. S, 1.75%, 11/25/2032	EUR	300		309
United Kingdom Gilt, (United Kingdom),
Reg. S, 0.13%, 01/30/2026	GBP	5,130		6,081
Reg. S, 0.13%, 01/31/2028	GBP	6,677		7,468
Reg. S, 0.25%, 01/31/2025	GBP	3,550		4,330
Reg. S, 0.25%, 07/31/2031	GBP	5,596		5,639
Reg. S, 0.38%, 10/22/2026	GBP	2,207		2,578
Reg. S, 0.38%, 10/22/2030	GBP	5,949		6,213
Reg. S, 0.50%, 01/31/2029	GBP	4,670		5,167
Reg. S, 0.50%, 10/22/2061	GBP	3,012		1,299
Reg. S, 0.63%, 06/07/2025	GBP	4,858		5,897
Reg. S, 0.63%, 07/31/2035	GBP	6,684		6,058
Reg. S, 0.63%, 10/22/2050	GBP	3,556		1,999
Reg. S, 0.88%, 10/22/2029	GBP	2,150		2,392
Reg. S, 0.88%, 07/31/2033	GBP	5,801		5,788
Reg. S, 0.88%, 01/31/2046	GBP	2,859		1,947
Reg. S, 1.00%, 01/31/2032	GBP	3,752		3,963
Reg. S, 1.13%, 01/31/2039	GBP	2,696		2,336
Reg. S, 1.13%, 10/22/2073	GBP	1,127		601


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 1.25%, 07/22/2027	GBP	3,271		3,871
Reg. S, 1.25%, 10/22/2041	GBP	3,291		2,723
Reg. S, 1.25%, 07/31/2051	GBP	3,396		2,304
Reg. S, 1.50%, 07/22/2026	GBP	6,780		8,216
Reg. S, 1.50%, 07/22/2047	GBP	2,153		1,664
Reg. S, 1.50%, 07/31/2053	GBP	2,490		1,768
Reg. S, 1.63%, 10/22/2028	GBP	4,345		5,127
Reg. S, 1.63%, 10/22/2054	GBP	2,701		1,968
Reg. S, 1.63%, 10/22/2071	GBP	2,260		1,492
Reg. S, 1.75%, 09/07/2037	GBP	1,989		1,966
Reg. S, 1.75%, 01/22/2049	GBP	4,899		3,947
Reg. S, 1.75%, 07/22/2057	GBP	3,034		2,253
Reg. S, 2.00%, 09/07/2025	GBP	5,323		6,579
Reg. S, 2.50%, 07/22/2065	GBP	1,612		1,436
Reg. S, 3.25%, 01/31/2033	GBP	3,560		4,438
Reg. S, 3.25%, 01/22/2044	GBP	7,340		8,242
Reg. S, 3.50%, 01/22/2045	GBP	3,387		3,932
Reg. S, 3.50%, 07/22/2068	GBP	2,089		2,393
Reg. S, 3.75%, 01/29/2038	GBP	6,500		8,129
Reg. S, 3.75%, 07/22/2052	GBP	1,027		1,229
Reg. S, 3.75%, 10/22/2053	GBP	3,701		4,405
Reg. S, 4.00%, 01/22/2060	GBP	1,478		1,864
Reg. S, 4.00%, 10/22/2063	GBP	1,585		2,001
Reg. S, 4.13%, 01/29/2027	GBP	3,270		4,231
Reg. S, 4.25%, 12/07/2027	GBP	2,300		3,022
Reg. S, 4.25%, 06/07/2032	GBP	1,620		2,186
Reg. S, 4.25%, 03/07/2036	GBP	999		1,336
Reg. S, 4.25%, 09/07/2039	GBP	1,194		1,569
Reg. S, 4.25%, 12/07/2040	GBP	2,985		3,909
Reg. S, 4.25%, 12/07/2046	GBP	3,948		5,113
Reg. S, 4.25%, 12/07/2049 (ff)	GBP	1,237		1,603
Reg. S, 4.25%, 12/07/2055	GBP	1,389		1,815
Reg. S, 4.50%, 06/07/2028	GBP	1,150		1,528
Reg. S, 4.50%, 09/07/2034	GBP	720		986
Reg. S, 4.50%, 12/07/2042	GBP	1,115		1,499
Reg. S, 4.63%, 01/31/2034	GBP	340		470
Reg. S, 4.75%, 12/07/2030	GBP	2,976		4,107
Reg. S, 4.75%, 12/07/2038	GBP	1,379		1,917
Reg. S, 5.00%, 03/07/2025	GBP	1,928		2,479
Reg. S, 6.00%, 12/07/2028	GBP	912		1,301
Ville de Paris, (France),
Reg. S, 1.38%, 11/20/2034	EUR	100		94
Reg. S, 1.63%, 02/02/2033	EUR	200		198
Reg. S, 1.75%, 05/25/2031	EUR	200		206
3.88%, 12/29/2025	EUR	500		561
Western Australian Treasury Corp., (Australia), Reg. S, 2.25%, 07/23/2041	AUD	50		24
Xunta de Galicia, (Spain), Reg. S, 0.27%, 07/30/2028	EUR	300		295

Total Foreign Government Securities (Cost $3,289,320)				3,220,081


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Mortgage-Backed Securities — 17.4%
FHLMC Gold Pool, 3.00%, 10/01/2046		172		154
3.50%, 12/01/2044		400		370
3.50%, 06/01/2045		806		737
3.50%, 05/01/2046		129		118
3.50%, 10/01/2046		182		166
FHLMC Gold Pool, Single Family, 15 years, 3.00%, 10/01/2026		39		39
3.00%, 11/01/2026		238		232
3.00%, 01/01/2027		1,160		1,130
3.00%, 05/01/2029		4,235		4,106
3.00%, 02/01/2032		338		324
3.00%, 04/01/2032		1,740		1,664
3.00%, 05/01/2032		1,177		1,127
3.00%, 07/01/2032		639		612
3.00%, 10/01/2032		666		638
3.00%, 11/01/2032		1,170		1,119
FHLMC Gold Pool, Single Family, 30 years, 3.00%, 03/01/2046		17		15
3.00%, 12/01/2046		28		25
4.00%, 08/01/2040		265		258
4.00%, 10/01/2040		2,219		2,170
4.00%, 11/01/2040		540		528
4.00%, 11/01/2047		1,631		1,580
4.00%, 01/01/2048		35		34
FHLMC Non Gold Pool, ARM, (USD IBOR Consumer Cash Fallbacks 1 Year + 1.64%), 3.62%, 01/01/2050 (aa)		53		51
FHLMC Pool, 3.05%, 03/01/2032		885		788
3.50%, 02/01/2043		53		50
3.50%, 02/01/2044		78		73
6.00%, 08/01/2035		52		52
FHLMC Pool, Single Family, 15 years,
1.50%, 12/01/2035		350		307
1.50%, 03/01/2036		535		468
1.50%, 02/01/2037		773		672
1.50%, 03/01/2037		803		698
2.00%, 12/01/2035		692		625
2.00%, 02/01/2036		4,733		4,279
2.00%, 03/01/2036		394		356
2.00%, 05/01/2036		2,398		2,167
2.00%, 08/01/2036		1,137		1,028
2.00%, 10/01/2036		608		548
2.00%, 11/01/2036		3,440		3,102
2.00%, 12/01/2036		349		315
2.00%, 01/01/2037		4,177		3,764
2.00%, 04/01/2037		1,564		1,404
2.00%, 05/01/2037		967		868
2.00%, 06/01/2037		1,848		1,659
2.50%, 07/01/2032		1,937		1,827
2.50%, 10/01/2035		7,774		7,206
2.50%, 07/01/2036		1,221		1,125
2.50%, 04/01/2037		145		133


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
2.50%, 05/01/2037		361		332
3.00%, 04/01/2028		30		29
3.00%, 10/01/2028		1,068		1,033
3.00%, 04/01/2029		30		29
3.00%, 05/01/2030		5		4
3.00%, 06/01/2030		523		504
3.00%, 11/01/2030		98		94
3.00%, 11/01/2031		30		29
3.00%, 11/01/2032		101		96
3.00%, 01/01/2033		48		46
3.50%, 11/01/2025		207		203
3.50%, 09/01/2033		269		264
3.50%, 02/01/2034		663		650
3.50%, 05/01/2035		568		549
3.50%, 12/01/2035		50		48
3.50%, 02/01/2036		173		167
4.00%, 07/01/2025		11		11
4.00%, 05/01/2026		9		9
4.00%, 07/01/2029		202		199
4.00%, 11/01/2033		125		123
4.00%, 01/01/2034		14		14
FHLMC Pool, Single Family, 20 years,
3.00%, 07/01/2042		345		315
3.00%, 08/01/2042		124		113
3.50%, 06/01/2039		249		236
3.50%, 07/01/2039		147		139
3.50%, 08/01/2039		550		527
3.50%, 09/01/2039		342		328
FHLMC Pool, Single Family, 30 years,
1.50%, 02/01/2051		26		20
1.50%, 04/01/2051		48		38
1.50%, 05/01/2051		5,361		4,188
1.50%, 07/01/2051		897		700
2.00%, 09/01/2050		700		575
2.00%, 10/01/2050		4,309		3,547
2.00%, 02/01/2051		3,909		3,216
2.00%, 03/01/2051		2,842		2,336
2.00%, 05/01/2051		11,089		9,099
2.00%, 06/01/2051		1,320		1,084
2.00%, 07/01/2051		1,347		1,113
2.00%, 10/01/2051		1,725		1,424
2.00%, 11/01/2051		5,626		4,612
2.00%, 12/01/2051		4,404		3,602
2.00%, 01/01/2052		477		391
2.00%, 02/01/2052		2,136		1,748
2.00%, 03/01/2052		5,406		4,419
2.50%, 11/01/2050		22,203		18,976
2.50%, 12/01/2050		768		656
2.50%, 02/01/2051 (gg)		12,248		10,495
2.50%, 04/01/2051		398		338
2.50%, 08/01/2051		14,884		12,829
2.50%, 11/01/2051		782		670
2.50%, 02/01/2052		2,273		1,936
2.50%, 03/01/2052		1,706		1,461


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


2.50%, 04/01/2052		204		174
3.00%, 02/01/2049		2,119		1,940
3.00%, 11/01/2049		1,563		1,410
3.00%, 05/01/2050		3,451		3,116
3.00%, 07/01/2050		1,867		1,668
3.00%, 08/01/2050		3,834		3,447
3.00%, 10/01/2050		783		697
3.00%, 12/01/2050		253		225
3.00%, 06/01/2051		3,160		2,799
3.00%, 07/01/2051		5,971		5,367
3.00%, 11/01/2051		9,217		8,171
3.00%, 12/01/2051		8,783		7,783
3.00%, 02/01/2052		2,491		2,207
3.00%, 03/01/2052		3,472		3,081
3.00%, 04/01/2052		6,406		5,691
3.50%, 03/01/2042		2		2
3.50%, 09/01/2042		2,200		2,082
3.50%, 07/01/2043		2		2
3.50%, 11/01/2047		320		299
3.50%, 02/01/2048		1,666		1,557
3.50%, 03/01/2048		282		265
3.50%, 05/01/2048		3,584		3,349
3.50%, 06/01/2048		4		4
3.50%, 01/01/2049		38		36
3.50%, 02/01/2049		521		490
3.50%, 09/01/2049		2,135		1,992
3.50%, 10/01/2049		1,957		1,825
3.50%, 04/01/2050		2,861		2,676
3.50%, 11/01/2051		465		427
3.50%, 01/01/2052		402		370
3.50%, 04/01/2052		1,732		1,591
3.50%, 06/01/2052 (gg)		7,450		6,839
3.50%, 07/01/2052		1,836		1,686
4.00%, 10/01/2048		2,628		2,532
4.00%, 04/01/2049		2,179		2,096
4.00%, 09/01/2049		1,380		1,333
4.00%, 05/01/2050		995		950
4.00%, 08/01/2050		1,103		1,056
4.00%, 09/01/2050		9,319		8,930
4.00%, 04/01/2052		54		51
4.00%, 06/01/2052		926		877
4.00%, 07/01/2052		946		896
4.00%, 08/01/2052		1,681		1,592
4.00%, 09/01/2052		566		536
4.00%, 10/01/2052		570		544
4.00%, 02/01/2053		470		451
4.50%, 12/01/2047		166		164
4.50%, 04/01/2048		394		389
4.50%, 08/01/2048		20		20
4.50%, 09/01/2048		667		655
4.50%, 08/01/2049		1,275		1,263
4.50%, 09/01/2050		878		864
4.50%, 10/01/2050		3,400		3,321
4.50%, 07/01/2052		212		206


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
4.50%, 08/01/2052		139		135
4.50%, 09/01/2052		2,676		2,598
4.50%, 12/01/2052		1,763		1,724
4.50%, 08/01/2053		96		93
5.00%, 12/01/2049		376		380
5.00%, 08/01/2052		258		256
5.00%, 09/01/2052		599		599
5.00%, 10/01/2052		296		294
5.00%, 11/01/2052		252		250
5.00%, 01/01/2053		440		437
5.00%, 04/01/2053		1,297		1,284
5.00%, 06/01/2053		194		194
5.50%, 11/01/2052		398		404
5.50%, 12/01/2052		1,231		1,251
5.50%, 01/01/2053		872		883
5.50%, 02/01/2053		570		579
5.50%, 04/01/2053		400		403
5.50%, 05/01/2053		1,987		2,002
5.50%, 06/01/2053		106		107
6.00%, 08/01/2053		2,948		3,028
6.00%, 09/01/2053		897		914
6.50%, 10/01/2053		90		92
6.50%, 12/01/2053		250		257
FNMA or FHLMC, Single Family, 15 years,
TBA, 1.50%, 01/01/2036 (w)		741		645
TBA, 2.50%, 01/01/2039 (w)		875		805
TBA, 3.00%, 01/01/2038 (w)		3,175		2,994
TBA, 3.50%, 01/01/2039 (w)		4,250		4,084
TBA, 4.00%, 01/15/2027 (w)		3,025		2,966
TBA, 4.50%, 01/01/2039 (w)		6,800		6,767
FNMA or FHLMC, Single Family, 30 years,
TBA, 1.50%, 01/01/2054 (w)		7,300		5,687
TBA, 2.00%, 01/01/2054 (w)		12,050		9,851
TBA, 2.00%, 02/01/2054 (w)		99,000		81,025
TBA, 2.50%, 01/01/2054 (w)		2,550		2,171
TBA, 2.50%, 02/01/2054 (w)		3,200		2,728
TBA, 3.00%, 01/01/2054 (w)		94,753		83,948
TBA, 3.50%, 01/01/2054 (w)		69,579		63,909
TBA, 4.00%, 02/01/2053 (w)		10,000		9,479
TBA, 4.00%, 01/01/2054 (w)		2,500		2,367
TBA, 4.50%, 01/01/2054 (w)		26,493		25,710
TBA, 5.00%, 01/01/2054 (w)		14,279		14,142
TBA, 5.00%, 02/01/2054 (w)		107,200		106,220
TBA, 5.50%, 01/01/2054 (w)		69,143		69,494
TBA, 5.50%, 02/01/2054 (w)		75,600		76,002
TBA, 6.00%, 01/01/2054 (w)		5,725		5,817
TBA, 6.00%, 02/01/2054 (w)		3,700		3,760
TBA, 6.50%, 01/01/2054 (w)		37,950		38,891
TBA, 6.50%, 02/01/2054 (w)		76,800		78,699
FNMA Pool,
2.00%, 11/01/2027		291		278
2.32%, 01/01/2026		2,070		1,975
2.92%, 10/01/2025 (z)		6,726		6,518
3.00%, 12/01/2042		237		215


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.00%, 06/01/2043		984		889
3.00%, 05/01/2045		313		283
3.00%, 07/01/2045		33		29
3.00%, 11/01/2046		30		27
3.00%, 03/01/2060		16,918		14,916
3.01%, 04/01/2032		4,088		3,656
3.02%, 03/01/2028		400		379
3.29%, 04/01/2027		2,600		2,506
3.29%, 03/01/2028		1,400		1,340
3.43%, 05/01/2028		500		481
3.44%, 01/01/2037		315		286
3.50%, 07/01/2024		22		21
3.50%, 09/01/2027		110		108
3.50%, 12/01/2028		52		51
3.50%, 08/01/2032		56		54
3.50%, 12/01/2042		141		132
3.50%, 04/01/2043		205		193
3.50%, 11/01/2043		100		94
3.50%, 02/01/2045		246		231
3.50%, 02/01/2048		736		672
3.50%, 09/01/2048		72		66
3.50%, 07/01/2049		285		259
4.00%, 04/01/2041		113		112
4.00%, 08/01/2046		98		96
4.13%, 08/01/2031		2,291		2,237
4.14%, 04/01/2028		521		517
4.25%, 01/01/2033		3,861		3,803
4.39%, 04/01/2033		552		549
4.50%, 06/01/2030		100		100
4.55%, 05/01/2028		100		101
4.59%, 06/01/2033		1,173		1,184
4.64%, 09/01/2028		229		232
4.79%, 06/01/2033		1,292		1,322
4.82%, 09/01/2028		700		712
4.83%, 12/01/2032		3,282		3,364
4.88%, 09/01/2028		1,101		1,126
4.90%, 10/01/2028		355		363
4.99%, 03/01/2031		499		513
5.09%, 02/01/2031		1,751		1,813
5.17%, 08/01/2034		747		784
5.24%, 11/01/2031 (w)		1,143		1,195
5.26%, 12/01/2029		1,250		1,300
5.57%, 10/01/2028		435		449
5.73%, 12/01/2033		700		769
FNMA Pool, 30 years, FHA/VA, 3.00%, 01/01/2047		819		743
FNMA Pool, Single Family, 15 years,
1.50%, 10/01/2036		511		446
1.50%, 11/01/2036		457		400
1.50%, 03/01/2037		448		390
1.50%, 05/01/2037		181		157
1.50%, 08/01/2037		499		434
2.00%, 02/01/2028		12		11
2.00%, 09/01/2028		100		95


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
2.00%, 11/01/2028		98		93
2.00%, 07/01/2032		9		8
2.00%, 12/01/2035		777		702
2.00%, 02/01/2036		5,747		5,193
2.00%, 03/01/2036		438		396
2.00%, 08/01/2036		1,105		998
2.00%, 11/01/2036		2,238		2,022
2.00%, 12/01/2036		1,139		1,025
2.00%, 01/01/2037		552		497
2.00%, 02/01/2037		936		840
2.00%, 04/01/2037		1,111		1,001
2.00%, 05/01/2037		669		600
2.50%, 08/01/2035		225		209
2.50%, 03/01/2036		2,064		1,913
2.50%, 07/01/2036		834		768
2.50%, 08/01/2036		126		116
2.50%, 03/01/2037		239		220
2.50%, 04/01/2037		487		448
2.50%, 05/01/2037		126		116
3.00%, 10/01/2026		54		53
3.00%, 11/01/2026		816		794
3.00%, 12/01/2026		97		95
3.00%, 01/01/2027		1,091		1,061
3.00%, 02/01/2027		209		203
3.00%, 04/01/2027		400		389
3.00%, 11/01/2027		27		27
3.00%, 02/01/2028		183		178
3.00%, 10/01/2029		51		49
3.00%, 03/01/2030		35		34
3.00%, 05/01/2030		17		17
3.00%, 07/01/2030		18		17
3.00%, 09/01/2030		551		531
3.00%, 12/01/2030		26		25
3.00%, 04/01/2031		93		89
3.00%, 12/01/2031		208		199
3.00%, 02/01/2032		331		317
3.00%, 03/01/2032		323		308
3.00%, 04/01/2032		1,605		1,533
3.00%, 05/01/2032		482		460
3.00%, 07/01/2032		1,041		995
3.00%, 08/01/2032		412		394
3.00%, 11/01/2032		827		790
3.00%, 01/01/2033		61		59
3.00%, 07/01/2033		102		97
3.00%, 02/01/2034		1,209		1,155
3.00%, 09/01/2034		457		432
3.00%, 12/01/2035		481		460
3.50%, 12/01/2025		105		103
3.50%, 01/01/2026		322		316
3.50%, 07/01/2031		58		57
3.50%, 07/01/2034		360		351
3.50%, 03/01/2035		1,291		1,265
3.50%, 04/01/2035		816		787
3.50%, 05/01/2035		75		73


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.50%, 06/01/2035		263		257
4.00%, 03/01/2025		29		29
4.00%, 06/01/2026		50		50
4.00%, 08/01/2026		30		29
4.00%, 08/01/2027		32		31
4.00%, 12/01/2028		18		18
4.00%, 04/01/2033		484		479
4.00%, 10/01/2033		75		74
4.00%, 11/01/2033		151		150
4.00%, 12/01/2033		18		18
4.00%, 03/01/2035		745		733
FNMA Pool, Single Family, 20 years,
3.00%, 05/01/2042		719		655
3.00%, 06/01/2042		368		337
3.00%, 07/01/2042		1,361		1,244
3.50%, 03/01/2037		450		430
3.50%, 08/01/2038		99		94
3.50%, 04/01/2039		13		12
3.50%, 08/01/2039		155		147
4.50%, 06/01/2039		30		29
4.50%, 07/01/2043		995		981
FNMA Pool, Single Family, 30 years,
1.50%, 11/01/2050		1,316		1,030
1.50%, 06/01/2051		1,981		1,548
1.50%, 07/01/2051		1,210		945
1.50%, 04/01/2052		920		718
2.00%, 07/01/2050		1,402		1,155
2.00%, 09/01/2050		1,216		1,002
2.00%, 10/01/2050		931		766
2.00%, 12/01/2050		7,743		6,374
2.00%, 01/01/2051		3,967		3,278
2.00%, 02/01/2051		1,324		1,086
2.00%, 03/01/2051		1,979		1,625
2.00%, 04/01/2051		3,583		2,947
2.00%, 05/01/2051		1,778		1,459
2.00%, 06/01/2051		5,820		4,797
2.00%, 07/01/2051		3,046		2,497
2.00%, 10/01/2051		18,544		15,193
2.00%, 11/01/2051		2,223		1,824
2.00%, 12/01/2051		15,707		12,860
2.00%, 05/01/2052		3,523		2,884
2.50%, 08/01/2046		5,106		4,449
2.50%, 08/01/2050		17		15
2.50%, 10/01/2050		11,289		9,664
2.50%, 12/01/2050		13,301		11,344
2.50%, 02/01/2051		1,876		1,603
2.50%, 03/01/2051		5,126		4,391
2.50%, 04/01/2051		6,365		5,420
2.50%, 07/01/2051		1,695		1,452
2.50%, 08/01/2051		3,725		3,199
2.50%, 09/01/2051		501		427
2.50%, 10/01/2051		899		767
2.50%, 11/01/2051		5,118		4,361
2.50%, 12/01/2051		13,665		11,674


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
2.50%, 01/01/2052		18,263		15,554
2.50%, 02/01/2052		1,051		895
2.50%, 03/01/2052		15,686		13,365
2.50%, 04/01/2052		4,659		3,983
2.50%, 05/01/2052		890		758
2.50%, 07/01/2052		487		415
3.00%, 08/01/2046		1,119		1,021
3.00%, 11/01/2046		2,993		2,755
3.00%, 02/01/2047		576		530
3.00%, 04/01/2048		5,868		5,402
3.00%, 01/01/2050		2,822		2,552
3.00%, 03/01/2050		1,477		1,332
3.00%, 06/01/2050		269		240
3.00%, 07/01/2050		12,001		10,696
3.00%, 08/01/2050		3,339		3,000
3.00%, 09/01/2050		297		264
3.00%, 11/01/2050		534		476
3.00%, 12/01/2050		3,816		3,434
3.00%, 01/01/2051		1,665		1,484
3.00%, 05/01/2051		10,674		9,463
3.00%, 06/01/2051		6,703		5,951
3.00%, 07/01/2051		1,841		1,645
3.00%, 08/01/2051		1,240		1,113
3.00%, 10/01/2051		3,163		2,805
3.00%, 11/01/2051		4,306		3,827
3.00%, 12/01/2051		2,591		2,295
3.00%, 01/01/2052		5,329		4,723
3.00%, 02/01/2052		929		828
3.00%, 03/01/2052		2,591		2,297
3.00%, 04/01/2052		7,226		6,403
3.00%, 05/01/2052		1,370		1,214
3.00%, 07/01/2052		1,426		1,268
3.50%, 07/01/2042		1		1
3.50%, 09/01/2042		154		146
3.50%, 05/01/2043		5		4
3.50%, 07/01/2043 (gg)		6,740		6,386
3.50%, 08/01/2043 (gg)		17,094		16,142
3.50%, 01/01/2044		209		198
3.50%, 10/01/2045		20		18
3.50%, 12/01/2045		1,894		1,767
3.50%, 07/01/2046		3,545		3,329
3.50%, 02/01/2047		3,889		3,669
3.50%, 07/01/2047		853		801
3.50%, 09/01/2047		60		56
3.50%, 10/01/2047		1,293		1,208
3.50%, 02/01/2048		2,026		1,893
3.50%, 03/01/2048		177		167
3.50%, 03/01/2049		328		306
3.50%, 06/01/2049		3,556		3,321
3.50%, 08/01/2049		557		521
3.50%, 04/01/2050		168		156
3.50%, 05/01/2050		3,819		3,557
3.50%, 07/01/2050		9,454		8,714
3.50%, 01/01/2051		714		664


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.50%, 03/01/2052		12,513		11,676
3.50%, 04/01/2052		309		284
3.50%, 05/01/2052 (gg)		19,344		17,823
3.50%, 06/01/2052		8,155		7,500
3.50%, 07/01/2052		3,168		2,910
4.00%, 04/01/2039		1,224		1,197
4.00%, 03/01/2042		543		531
4.00%, 04/01/2043		209		203
4.00%, 02/01/2045		228		222
4.00%, 09/01/2046		128		124
4.00%, 09/01/2047		38		37
4.00%, 10/01/2047		473		454
4.00%, 03/01/2048		72		70
4.00%, 04/01/2048		411		396
4.00%, 06/01/2048		28		27
4.00%, 08/01/2048		119		115
4.00%, 09/01/2048		280		270
4.00%, 03/01/2049		1,123		1,082
4.00%, 06/01/2049		1,107		1,069
4.00%, 11/01/2049		466		449
4.00%, 05/01/2050		902		864
4.00%, 03/01/2051		2,388		2,296
4.00%, 05/01/2051		234		224
4.00%, 04/01/2052		55		52
4.00%, 05/01/2052		1,821		1,725
4.00%, 06/01/2052		637		604
4.00%, 07/01/2052		458		434
4.00%, 08/01/2052		2,007		1,901
4.00%, 09/01/2052		305		289
4.00%, 07/01/2053		464		442
4.50%, 05/01/2047		2		2
4.50%, 11/01/2047		591		585
4.50%, 01/01/2048		548		542
4.50%, 04/01/2048		29		29
4.50%, 08/01/2048		15		15
4.50%, 09/01/2048		414		409
4.50%, 02/01/2049		4,943		4,849
4.50%, 05/01/2049		439		432
4.50%, 08/01/2049		7		7
4.50%, 01/01/2050		151		149
4.50%, 04/01/2050 (gg)		7,089		6,976
4.50%, 05/01/2052		21		20
4.50%, 06/01/2052		1,340		1,301
4.50%, 07/01/2052		8,931		8,670
4.50%, 08/01/2052		379		368
4.50%, 09/01/2052		2,225		2,160
4.50%, 10/01/2052		936		908
4.50%, 11/01/2052		3,235		3,140
4.50%, 12/01/2052		476		462
4.50%, 08/01/2053		277		269
5.00%, 09/01/2049		969		975
5.00%, 10/01/2052		557		556
5.00%, 11/01/2052		1,078		1,074


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
5.00%, 12/01/2052		561		561
5.00%, 01/01/2053		2,310		2,293
5.00%, 03/01/2053		356		356
5.00%, 04/01/2053		958		948
5.00%, 06/01/2053		283		283
5.00%, 08/01/2053		1,144		1,133
5.50%, 09/01/2052		319		327
5.50%, 01/01/2053		460		470
5.50%, 02/01/2053		1,937		1,950
5.50%, 03/01/2053		1,466		1,493
5.50%, 04/01/2053		1,868		1,902
5.50%, 05/01/2053		1,807		1,825
5.50%, 06/01/2053		4,058		4,128
6.00%, 07/01/2053		1,333		1,355
6.00%, 08/01/2053		499		517
6.00%, 09/01/2053		1,379		1,421
6.50%, 10/01/2053		818		848
6.50%, 11/01/2053		110		112
6.50%, 12/01/2053		971		1,004
GNMA I Pool, Single Family, 30 years,
3.00%, 10/15/2049		188		168
3.00%, 03/15/2050		15		14
GNMA II Pool,
2.50%, 12/20/2049		253		218
3.00%, 01/20/2047 (gg)		1,223		1,114
3.00%, 02/20/2047		438		400
3.00%, 06/20/2047		507		463
3.00%, 07/20/2047 (gg)		1,220		1,113
3.00%, 08/20/2047		523		477
3.00%, 09/20/2047		398		364
3.00%, 10/20/2047		414		378
3.00%, 12/20/2047 (gg)		604		551
3.00%, 01/20/2048 (gg)		584		533
3.00%, 08/20/2050 (gg)		636		568
3.50%, 09/20/2042 (gg)		2,369		2,196
3.50%, 08/20/2045 (gg)		2,296		2,129
3.50%, 09/20/2045 (gg)		714		663
3.50%, 12/20/2047 (gg)		3,483		3,230
3.50%, 06/20/2048		47		43
3.50%, 07/20/2048		36		33
3.50%, 08/20/2049		93		86
3.50%, 11/20/2049		155		143
3.50%, 07/20/2050		150		139
4.00%, 11/20/2041		21		20
4.00%, 10/20/2050		334		314
4.50%, 08/20/2040		17		17
4.50%, 10/20/2040		37		37
ARM, (CMT Index 1 Year + 1.84%), 7.11%, 07/20/2072 (aa) (gg)		19,209		19,840
ARM, (USD IBOR Consumer Cash Fallbacks 1 Month + 2.21%), 7.61%, 10/20/2071 (aa)		9,169		9,407
ARM, (USD IBOR Consumer Cash Fallbacks 1 Month + 2.22%), 7.62%, 02/20/2071 (aa)		2,935		3,013


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


GNMA II Pool, Single Family, 15 years, 2.00%, 12/20/2035 (gg)		2,892		2,624
GNMA II Pool, Single Family, 30 years,
1.50%, 10/20/2051		297		243
2.00%, 07/20/2050		146		124
2.00%, 08/20/2050		4,758		4,033
2.00%, 11/20/2050		1,663		1,410
2.00%, 12/20/2050		2,769		2,347
2.00%, 02/20/2051		1,013		859
2.00%, 10/20/2051		5,464		4,631
2.00%, 12/20/2051		5,398		4,573
2.00%, 01/20/2052		499		423
2.00%, 03/20/2052		1,364		1,155
2.00%, 04/20/2052		3,179		2,692
2.50%, 01/20/2051		301		264
2.50%, 02/20/2051		4,299		3,765
2.50%, 05/20/2051		6,273		5,496
2.50%, 07/20/2051		8,038		7,041
2.50%, 09/20/2051 (gg)		11,525		10,090
2.50%, 11/20/2051		3,435		3,007
2.50%, 12/20/2051		3,777		3,307
2.50%, 03/20/2052		905		792
2.50%, 04/20/2052		454		397
2.50%, 05/20/2052		803		703
2.50%, 07/20/2052		267		233
2.50%, 08/20/2052		442		387
3.00%, 01/20/2043		432		398
3.00%, 11/20/2043		89		82
3.00%, 03/20/2045		94		87
3.00%, 09/20/2046		2,043		1,879
3.00%, 11/20/2046		1,254		1,152
3.00%, 10/20/2047		410		376
3.00%, 04/20/2049		31		28
3.00%, 04/20/2050 (gg)		7,425		6,773
3.00%, 07/20/2050		6,285		5,726
3.00%, 08/20/2050		3,418		3,112
3.00%, 08/20/2051		622		565
3.00%, 10/20/2051 (gg)		2,813		2,550
3.00%, 11/20/2051		3,515		3,187
3.00%, 12/20/2051		857		777
3.00%, 01/20/2052 (gg)		8,059		7,301
3.00%, 02/20/2052		347		314
3.00%, 03/20/2052		1,159		1,043
3.00%, 09/20/2052		458		415
3.00%, 02/20/2053 (gg)		3,274		2,978
3.50%, 09/20/2045		2,549		2,410
3.50%, 09/20/2047		3,271		3,083
3.50%, 08/20/2048		167		157
3.50%, 11/20/2048		199		187
3.50%, 12/20/2048		5		5
3.50%, 03/20/2049		962		905
3.50%, 07/20/2049		939		884
3.50%, 09/20/2049		1,186		1,116
3.50%, 10/20/2049		501		472


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
3.50%, 12/20/2049		396		373
3.50%, 01/20/2050		594		559
3.50%, 04/20/2050		118		111
3.50%, 01/20/2052 (gg)		4,236		3,945
3.50%, 02/20/2052 (gg)		2,520		2,347
3.50%, 02/20/2053 (gg)		3,282		3,072
4.00%, 07/20/2048		967		930
4.00%, 09/20/2048		1,644		1,582
4.00%, 11/20/2048		29		28
4.00%, 12/20/2048		828		797
4.00%, 05/20/2049		512		494
4.00%, 01/20/2050		921		888
4.00%, 03/20/2050		199		192
4.00%, 12/20/2050		2,379		2,295
4.00%, 07/20/2052		200		191
4.00%, 09/20/2052		1,800		1,719
4.00%, 12/20/2052		408		390
4.50%, 03/20/2047		428		423
4.50%, 06/20/2047 (gg)		778		769
4.50%, 07/20/2047		1,436		1,425
4.50%, 10/20/2047		323		318
4.50%, 11/20/2047 (gg)		998		985
4.50%, 05/20/2048 (gg)		7,336		7,206
4.50%, 09/20/2048		625		602
4.50%, 11/20/2048		750		736
4.50%, 01/20/2049		1,780		1,759
4.50%, 03/20/2049		450		445
4.50%, 05/20/2049		235		223
4.50%, 10/20/2049		645		637
4.50%, 08/20/2052		1,590		1,553
4.50%, 12/20/2053		400		390
5.00%, 12/20/2048		152		154
5.00%, 06/20/2049		330		332
5.00%, 07/20/2052		116		115
5.00%, 09/20/2052		881		877
5.00%, 12/20/2052		1,277		1,270
5.00%, 04/20/2053		1,189		1,182
5.50%, 12/20/2052		1,212		1,221
5.50%, 01/20/2053		149		150
5.50%, 03/20/2053		546		549
5.50%, 04/20/2053		1,403		1,413
5.50%, 06/20/2053		1,190		1,198
5.50%, 07/20/2053		421		424
6.00%, 09/20/2053		682		693
6.00%, 10/20/2053		1,028		1,046
GNMA, Single Family, 30 years,
TBA, 2.50%, 01/01/2054 (w)		661		579
TBA, 3.00%, 01/01/2054 (w)		2,162		1,959
TBA, 3.00%, 02/01/2054 (w)		60,450		54,822
TBA, 3.50%, 01/01/2053 (w)		5,570		5,191
TBA, 4.00%, 01/01/2054 (w)		3,110		2,971
TBA, 4.00%, 02/01/2054 (w)		8,700		8,319
TBA, 4.50%, 01/01/2054 (w)		2,950		2,881
TBA, 4.50%, 02/01/2054 (w)		6,000		5,865


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


TBA, 5.00%, 01/01/2054 (w)		15,405		15,314
TBA, 5.50%, 01/01/2054 (w)		3,939		3,965
TBA, 6.00%, 01/01/2054 (w)		3,400		3,457
TBA, 6.50%, 01/01/2054 (w)		2,600		2,662

Total Mortgage-Backed Securities (Cost $1,861,027)				1,774,327

Municipal Bonds — 0.1% (t)
Arizona — 0.0% (g)
Salt River Project Agricultural Improvement & Power District, Series A, Rev., 4.84%, 01/01/2041		150		148

California — 0.1%
Bay Area Toll Authority, Build America Bonds, Series S1, Rev., 6.92%, 04/01/2040		115		134
California Health Facilities Financing Authority, Taxable, Social Bonds,
Rev., 4.19%, 06/01/2037		5		5
Rev., 4.35%, 06/01/2041		5		4
California State University, Taxable Systemwide, Series E, Rev., 2.90%, 11/01/2051		15		11
City of San Francisco CA Public Utilities Commission Water Revenue, Rev., 6.95%, 11/01/2050		70		87
Los Angeles Community College District, Taxable, GO, 2.11%, 08/01/2032		150		124
Los Angeles County Metropolitan Transportation Authority, Build America Bonds, Rev., 5.74%, 06/01/2039		50		53
Los Angeles Department of Water & Power,
Rev., 6.57%, 07/01/2045		50		59
Rev., 6.60%, 07/01/2050		30		37
Los Angeles Unified School District, Build America Bond, GO, 5.75%, 07/01/2034		25		27
Regents of the University of California Medical Center Pooled Revenue, Build America Bonds, Series F, Rev., 6.58%, 05/15/2049		200		234
Regents of the University of California Medical Center Pooled Revenue, Taxable, Series N, Rev., 3.26%, 05/15/2060		50		35
State of California, GO, 7.55%, 04/01/2039		150		189
State of California, Build America Bonds,
GO, 7.35%, 11/01/2039		100		121
GO, 7.50%, 04/01/2034		50		61
GO, 7.60%, 11/01/2040		50		64
State of California, Taxable Construction Bond Bidding Group, GO, 1.75%, 11/01/2030		350		293
University of California, Rev., 5.95%, 05/15/2045		35		38


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Municipal Bonds — continued
California — continued
University of California, Taxable,
Series AQ, Rev., 4.77%, 05/15/2115		20		18
Series BJ, Rev., 3.07%, 05/15/2051		5		4


				1,598

District of Columbia — 0.0% (g)
District of Columbia, Water & Sewer Authority, Senior Lien, Green Bonds, Series A, Rev., 4.81%, 10/01/2114		895		889

Florida — 0.0% (g)
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.26%, 07/01/2025		100		95

Illinois — 0.0% (g)
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, Series B, Rev., 6.90%, 12/01/2040		97		111
Sales Tax Securitization Corp., Taxable, Second Lien, Series B, Rev., 3.24%, 01/01/2042		40		32
State of Illinois, Taxable Pension, GO, 5.10%, 06/01/2033		350		346


				489

Louisiana — 0.0% (g)
State of Louisiana Gasoline & Fuels Tax Revenue, Taxable, Series A, Rev., 2.95%, 05/01/2041		1,450		1,141

Massachusetts — 0.0% (g)
Commonwealth of Massachusetts, Series H, GO, 2.90%, 09/01/2049		15		11
Commonwealth of Massachusetts, Build America Bonds, GO, 4.91%, 05/01/2029		100		102
Commonwealth of Massachusetts, Taxable, Series D, GO, 2.66%, 09/01/2039		147		119


				232

Michigan — 0.0% (g)
Michigan State University, Taxable, Series A, Rev., 4.17%, 08/15/2122		115		93
University of Michigan, Taxable,
Series B, Rev., 2.56%, 04/01/2050		25		17
Series C, Rev., 3.60%, 04/01/2047		14		12


				122

Missouri — 0.0% (g)
Health & Educational Facilities Authority of the State of Missouri, Washington University, Series A, Rev., 3.23%, 05/15/2050		35		27


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


New Jersey — 0.0% (g)
New Jersey Transportation Trust Fund Authority, Build America Bonds, Series B, Rev., 6.56%, 12/15/2040		125		141
New Jersey Turnpike Authority, Build America Bonds, Series F, Rev., 7.41%, 01/01/2040		230		287


				428

New York — 0.0% (g)
City of New York, Build America Bonds, GO, 5.52%, 10/01/2037		25		26
Metropolitan Transportation Authority, Taxable Green Bond, Series C2, Rev., 5.18%, 11/15/2049		100		97
New York City Municipal Water Finance Authority, Second General Resolution, Rev., 5.95%, 06/15/2042		200		224
New York City Water & Sewer System, Build America Bonds, Second General Resolution, Rev., 5.44%, 06/15/2043		30		32
Port Authority of New York & New Jersey,
Rev., 4.46%, 10/01/2062		50		46
Series 21, Rev., 3.29%, 08/01/2069		40		28
Port Authority of New York & New Jersey, Taxable Consolidated 160, Rev., 5.65%, 11/01/2040		250		266


				719

Ohio — 0.0% (g)
Ohio State University (The), Taxable, Series A, Rev., 4.80%, 06/01/2111		130		124

Oklahoma — 0.0% (g)
Oklahoma Development Finance Authority, Rev., 4.62%, 06/01/2044		10		10

Oregon — 0.0% (g)
Oregon State University, Rev., BAM, 3.42%, 03/01/2060		10		8
State of Oregon Department of Transportation, Taxable Subordinated, Build America Bonds, Series A, Rev., 5.83%, 11/15/2034		50		54


				62

Pennsylvania — 0.0% (g)
City of Philadelphia PA Water & Wastewater Revenue, Rev., 2.93%, 07/01/2045		10		8

Texas — 0.0% (g)
Board of Regents of the University of Texas System, Series C, Rev., 4.79%, 08/15/2046		110		109
City of San Antonio, Electric & Gas Systems Revenue, Build America Bonds, Rev., 5.99%, 02/01/2039		20		22


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Municipal Bonds — continued
Texas — continued
Dallas Area Rapid Transit, Build America Bonds, Rev., 5.02%, 12/01/2048		30		30
Dallas Area Rapid Transit, Taxable, Senior Lien, Series A, Rev., 2.61%, 12/01/2048		130		91
Dallas Fort Worth International Airport, Taxable,
Series A, Rev., 4.09%, 11/01/2051		425		371
Series A, Rev., 4.51%, 11/01/2051		100		94
Series C, Rev., 3.09%, 11/01/2040		100		80
North Texas Tollway Authority, Build America Bonds, Series B, Rev., 6.72%, 01/01/2049		65		80
State of Texas, Build America Bonds Taxable, GO, 5.52%, 04/01/2039		150		161
Texas Transportation Commission, Taxable Mobility Fund, GO, 2.47%, 10/01/2044		10		7


				1,045

Virginia — 0.0% (g)
University of Virginia, Taxable, Series C, Rev., 4.18%, 09/01/2117		40		34

Total Municipal Bonds (Cost $8,240)				7,171

U.S. Government Agency Securities — 0.1%
Federal Farm Credit Banks Funding Corp.,
1.57%, 09/23/2030		490		411
2.20%, 12/09/2031		1,030		880
5.48%, 06/27/2042		1,000		980
FHLBs,
0.50%, 04/14/2025		2,000		1,900
3.25%, 11/16/2028		650		631
FHLMC,
Zero Coupon, 12/14/2029		710		557
0.38%, 07/21/2025		1,000		940
1.22%, 08/19/2030		215		177
1.50%, 02/12/2025		107		103
6.25%, 07/15/2032		124		144
6.75%, 03/15/2031		400		466
FHLMC Coupon STRIPs, Zero Coupon, 07/15/2031		85		63
FHLMC STRIPs, Zero Coupon, 03/15/2031		542		398
FNMA,
Zero Coupon, 11/15/2030		445		332
0.88%, 08/05/2030		810		661
5.38%, 12/07/2028	GBP	460		621
Resolution Funding Corp. Interest STRIP,
Zero Coupon, 07/15/2027		53		46
Zero Coupon, 07/15/2028		143		119
Zero Coupon, 10/15/2028		745		612
Zero Coupon, 10/15/2029		205		161
Zero Coupon, 01/15/2030		1,230		947
Zero Coupon, 04/15/2030		2,260		1,724


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)



Resolution Funding Corp. Principal STRIP,
Zero Coupon, 01/15/2030		1,050		809
Zero Coupon, 04/15/2030		145		110
Tennessee Valley Authority, 4.63%, 06/07/2043	GBP	200		247
United States International Development Finance Corp., 3.37%, 10/05/2034		83		78

Total U.S. Government Agency Securities (Cost $15,268)				14,117

U.S. Treasury Obligations — 11.7%
U.S. Treasury Bonds,
1.13%, 05/15/2040		34,782		22,511
1.13%, 08/15/2040		45,525		29,180
1.25%, 05/15/2050 (jj)		7,480		4,054
1.38%, 11/15/2040		63,370		42,220
1.38%, 08/15/2050		1,626		911
1.63%, 11/15/2050		1,600		959
1.75%, 08/15/2041		89,850		62,744
1.88%, 02/15/2041		75,400		54,426
1.88%, 02/15/2051		1,100		701
1.88%, 11/15/2051		2,030		1,290
2.00%, 11/15/2041		61,400		44,594
2.00%, 02/15/2050		2,169		1,435
2.00%, 08/15/2051		2,450		1,608
2.25%, 05/15/2041		74,000		56,587
2.25%, 08/15/2046		940		671
2.25%, 08/15/2049		1,000		702
2.25%, 02/15/2052		700		488
2.38%, 02/15/2042		74,550		57,427
2.38%, 11/15/2049		700		505
2.38%, 05/15/2051		1,800		1,291
2.50%, 02/15/2045		1,420		1,080
2.50%, 02/15/2046		700		528
2.50%, 05/15/2046		970		729
2.75%, 08/15/2042		14,900		12,132
2.75%, 11/15/2042		15,750		12,786
2.75%, 08/15/2047		700		548
2.75%, 11/15/2047		1,575		1,232
2.88%, 05/15/2043		23,920		19,713
2.88%, 08/15/2045		1,435		1,162
2.88%, 11/15/2046		500		402
2.88%, 05/15/2049		1,500		1,198
2.88%, 05/15/2052		940		752
3.00%, 05/15/2042		11,500		9,766
3.00%, 11/15/2044		900		748
3.00%, 05/15/2045		1,730		1,433
3.00%, 11/15/2045		229		189
3.00%, 02/15/2047		338		278
3.00%, 05/15/2047		500		410
3.00%, 02/15/2048		250		205
3.00%, 08/15/2048		620		507
3.00%, 02/15/2049		3,045		2,489
3.00%, 08/15/2052		850		699


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
U.S. Treasury Obligations — continued
3.13%, 11/15/2041		12,500		10,910
3.13%, 02/15/2042		12,650		11,005
3.13%, 02/15/2043		16,060		13,780
3.13%, 08/15/2044		350		298
3.13%, 05/15/2048		320		268
3.25%, 05/15/2042		57,100		50,286
3.38%, 08/15/2042		46,750		41,843
3.38%, 11/15/2048		800		700
3.50%, 02/15/2039		2,200		2,091
3.63%, 08/15/2043		16,390		15,124
3.63%, 02/15/2044		1,500		1,380
3.63%, 02/15/2053		1,070		993
3.63%, 05/15/2053		4,490		4,171
3.75%, 08/15/2041		9,300		8,881
3.75%, 11/15/2043		12,815		12,021
3.88%, 08/15/2040		23,300		22,790
3.88%, 02/15/2043		33,930		32,469
3.88%, 05/15/2043		38,385		36,730
4.00%, 11/15/2042		35,930		35,046
4.00%, 11/15/2052		1,075		1,066
4.13%, 08/15/2053		768		780
4.25%, 05/15/2039		4,239		4,381
4.25%, 11/15/2040		18,269		18,687
4.38%, 02/15/2038		4,000		4,216
4.38%, 11/15/2039		12,100		12,647
4.38%, 05/15/2040		17,500		18,233
4.38%, 05/15/2041		9,810		10,148
4.38%, 08/15/2043 (jj)		52,110		53,388
4.50%, 02/15/2036		6,305		6,742
4.50%, 05/15/2038		8,090		8,623
4.50%, 08/15/2039		5,900		6,264
4.63%, 02/15/2040		13,200		14,182
4.75%, 02/15/2037		1,500		1,646
4.75%, 02/15/2041		14,400		15,622
4.75%, 11/15/2043		13,300		14,316
4.75%, 11/15/2053		1,015		1,144
5.00%, 05/15/2037		1,500		1,682
5.25%, 02/15/2029		365		388
U.S. Treasury Inflation Indexed Bond, 2.38%, 01/15/2025 (hh) (ii)		816		810
U.S. Treasury Inflation Indexed Notes,
0.13%, 10/15/2024 (ee)		959		938
0.13%, 04/15/2025		48		46
0.25%, 01/15/2025 (ee)		3,767		3,657
U.S. Treasury Notes,
0.25%, 05/31/2025		1,000		942
0.25%, 06/30/2025		1,500		1,409
0.25%, 07/31/2025		490		459
0.25%, 08/31/2025		500		467
0.25%, 09/30/2025		500		466
0.38%, 04/30/2025		1,195		1,131
0.38%, 11/30/2025		500		464
0.38%, 12/31/2025		900		834
0.38%, 01/31/2026		600		554


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


0.38%, 07/31/2027		315		278
0.38%, 09/30/2027		500		439
0.50%, 03/31/2025		500		475
0.50%, 04/30/2027		532		475
0.50%, 05/31/2027		500		446
0.50%, 08/31/2027		400		354
0.50%, 10/31/2027		700		616
0.63%, 07/31/2026		2,350		2,153
0.63%, 03/31/2027		1,000		899
0.63%, 11/30/2027		200		176
0.63%, 12/31/2027		500		440
0.63%, 05/15/2030		1,693		1,386
0.63%, 08/15/2030		2,550		2,072
0.75%, 03/31/2026		1,500		1,392
0.75%, 04/30/2026		1,500		1,388
0.75%, 05/31/2026		1,900		1,755
0.75%, 08/31/2026		2,000		1,834
0.75%, 01/31/2028		1,000		882
0.88%, 06/30/2026		1,000		925
0.88%, 09/30/2026		2,300		2,113
0.88%, 11/15/2030		2,200		1,810
1.00%, 07/31/2028		1,095		964
1.13%, 10/31/2026		500		462
1.13%, 02/28/2027		1,000		917
1.13%, 02/29/2028		1,300		1,163
1.13%, 08/31/2028		2,990		2,643
1.13%, 02/15/2031		2,600		2,174
1.25%, 11/30/2026		1,500		1,388
1.25%, 12/31/2026		1,700		1,570
1.25%, 03/31/2028		500		449
1.25%, 04/30/2028		2,100		1,882
1.25%, 05/31/2028		1,750		1,565
1.25%, 06/30/2028		390		348
1.25%, 09/30/2028		1,800		1,597
1.25%, 08/15/2031		1,350		1,119
1.38%, 08/31/2026		110		103
1.38%, 10/31/2028		4,300		3,831
1.38%, 12/31/2028		2,500		2,220
1.38%, 11/15/2031		1,700		1,414
1.50%, 08/15/2026		1,000		936
1.50%, 01/31/2027		500		464
1.50%, 11/30/2028		500		448
1.50%, 02/15/2030		1,149		1,002
1.63%, 02/15/2026		500		474
1.63%, 05/15/2026		1,500		1,416
1.63%, 10/31/2026		600		562
1.63%, 11/30/2026		400		374
1.63%, 08/15/2029		500		445
1.63%, 05/15/2031		1,800		1,547
1.75%, 03/15/2025		4,800		4,639
1.75%, 12/31/2026		840		787
1.75%, 01/31/2029		500		451
1.75%, 11/15/2029		500		447
1.88%, 02/28/2027		1,500		1,407


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
U.S. Treasury Obligations — continued
1.88%, 02/28/2029		500		454
1.88%, 02/15/2032		1,550		1,335
2.00%, 08/15/2025		1,000		962
2.00%, 11/15/2026		700		662
2.13%, 05/15/2025		1,000		968
2.13%, 05/31/2026		200		191
2.25%, 11/15/2025		538		518
2.25%, 03/31/2026		400		384
2.25%, 02/15/2027		1,200		1,140
2.25%, 08/15/2027		200		189
2.25%, 11/15/2027		250		235
2.38%, 04/30/2026		500		481
2.38%, 05/15/2027		1,000		950
2.38%, 03/31/2029		1,100		1,022
2.38%, 05/15/2029		600		557
2.50%, 01/31/2025		500		488
2.50%, 03/31/2027		1,000		956
2.63%, 04/15/2025		2,000		1,951
2.63%, 02/15/2029		500		471
2.63%, 07/31/2029		500		469
2.75%, 06/30/2025		800		781
2.75%, 04/30/2027		1,500		1,444
2.75%, 07/31/2027		900		864
2.75%, 02/15/2028		1,980		1,894
2.75%, 05/31/2029		1,000		945
2.75%, 08/15/2032		1,600		1,468
2.88%, 04/30/2025		900		880
2.88%, 06/15/2025		2,500		2,444
2.88%, 07/31/2025		1,000		976
2.88%, 11/30/2025		1,300		1,267
2.88%, 05/15/2028		1,500		1,440
2.88%, 08/15/2028		1,800		1,724
2.88%, 04/30/2029		1,000		952
2.88%, 05/15/2032		3,085		2,864
3.00%, 07/15/2025		5,000		4,892
3.00%, 09/30/2025		60		59
3.00%, 10/31/2025		1,185		1,158
3.13%, 08/15/2025		1,000		980
3.13%, 08/31/2027		1,000		973
3.13%, 11/15/2028		4,990		4,825
3.13%, 08/31/2029		300		288
3.25%, 06/30/2027		500		489
3.25%, 06/30/2029		1,000		969
3.38%, 05/15/2033		1,900		1,827
3.50%, 09/15/2025		700		690
3.50%, 01/31/2028		500		493
3.50%, 04/30/2028		500		492
3.50%, 01/31/2030		600		588
3.50%, 04/30/2030		750		734
3.50%, 02/15/2033		13,270		12,894
3.63%, 05/15/2026		1,500		1,483
3.63%, 03/31/2028		700		693
3.63%, 05/31/2028		2,905		2,877
3.63%, 03/31/2030		550		542


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.75%, 04/15/2026		900		892
3.75%, 12/31/2028 (w)		900		896
3.75%, 05/31/2030		1,000		993
3.75%, 06/30/2030		800		794
3.75%, 12/31/2030 (w)		800		795
3.88%, 01/15/2026		1,000		993
3.88%, 11/30/2027		985		984
3.88%, 12/31/2027		850		849
3.88%, 09/30/2029		300		300
3.88%, 11/30/2029		990		989
3.88%, 12/31/2029		1,210		1,209
3.88%, 08/15/2033		2,445		2,447
4.00%, 12/15/2025		1,700		1,691
4.00%, 02/15/2026		1,500		1,494
4.00%, 02/29/2028		900		904
4.00%, 06/30/2028		900		905
4.00%, 10/31/2029		1,000		1,006
4.00%, 02/28/2030		700		704
4.00%, 07/31/2030		1,200		1,208
4.13%, 01/31/2025		500		497
4.13%, 06/15/2026		2,000		2,000
4.13%, 09/30/2027		507		510
4.13%, 10/31/2027		700		705
4.13%, 07/31/2028		4,497		4,548
4.13%, 08/31/2030		550		558
4.13%, 11/15/2032 (jj)		7,840		7,984
4.25%, 05/31/2025		5,815		5,794
4.25%, 10/15/2025		1,450		1,448
4.38%, 08/15/2026		1,500		1,511
4.38%, 12/15/2026		1,500		1,515
4.38%, 08/31/2028		395		404
4.38%, 11/30/2028		1,205		1,234
4.38%, 11/30/2030		4,125		4,248
4.50%, 11/15/2025		1,000		1,004
4.50%, 07/15/2026		1,500		1,514
4.50%, 11/15/2033		1,415		1,489
4.63%, 06/30/2025		1,840		1,845
4.63%, 03/15/2026		2,000		2,018
4.63%, 09/15/2026		300		304
4.63%, 10/15/2026		700		711
4.63%, 11/15/2026		600		610
4.63%, 09/30/2028		200		207
4.63%, 09/30/2030		360		376
4.75%, 07/31/2025		1,700		1,708
4.88%, 11/30/2025		1,390		1,405
4.88%, 10/31/2028		200		209
4.88%, 10/31/2030		700		741
5.00%, 08/31/2025		5,340		5,390
U.S. Treasury STRIP Coupon Bonds,
Zero Coupon, 05/15/2024		800		785
Zero Coupon, 05/15/2026		5,000		4,532
Zero Coupon, 11/15/2026		5,000		4,457
Zero Coupon, 11/15/2028 (ee) (ff)		12,000		9,938
Zero Coupon, 11/15/2038 (ee) (jj)		6,250		3,363


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
U.S. Treasury Obligations — continued
Zero Coupon, 11/15/2041 (jj)		200		92
Zero Coupon, 08/15/2045 (jj)		600		233

Total U.S. Treasury Obligations (Cost $1,222,337)				1,192,136

Short-Term Investments — 1.6%
Time Deposits — 1.5%
Australia & New Zealand Banking Group Ltd.,
2.77%, 01/02/2024	AUD	104		71
3.06%, 01/03/2024	NZD	29		18
BNP Paribas SA, 0.55%, 01/03/2024	CHF	561		667
Brown Brothers Harriman & Co.,
0.55%, 01/03/2024	CHF	19		23
2.13%, 01/02/2024	DKK	5,452		807
2.45%, 01/02/2024	SGD	31		24
3.19%, 01/02/2024	NOK	1,056		104
4.16%, 01/02/2024	GBP	584		745
4.25%, 01/02/2024	HKD	4		—	(h)
Citibank NA,
2.71%, 01/02/2024	EUR	1,721		1,900
4.68%, 01/02/2024		32,159		32,159
Royal Bank of Canada,
2.71%, 01/02/2024	EUR	3,119		3,443
3.79%, 01/02/2024	CAD	13		10
4.16%, 01/02/2024	GBP	8,696		11,084
4.68%, 01/02/2024		24,021		24,021
Skandinaviska Enskilda Banken AB, (1.49%), 01/02/2024	SEK	3,821		379
Sumitomo Mitsui Banking Corp.,
(0.34%), 01/04/2024	JPY	117,121		831
4.68%, 01/02/2024		77,403		77,403

Total Time Deposits				153,689

U.S. Treasury Obligations — 0.1%
U.S. Treasury Bills,
Zero Coupon, 02/29/2024 (hh) (ii)		4,598		4,559
Zero Coupon, 03/28/2024 (hh) (ii)		562		555
Zero Coupon, 02/15/2024 (ii)		3		3
Zero Coupon, 01/11/2024		1,691		1,689
Zero Coupon, 01/25/2024 (ii)		3		3
Zero Coupon, 01/04/2024		66		66
Zero Coupon, 04/18/2024		3,000		2,954


Total U.S. Treasury Obligations				9,829

Total Short-Term Investments (Cost $163,515)				163,518


Total Investments, Before Short Positions — 108.3% (Cost — $11,137,639)				11,037,128

Liabilities in Excess of Other Assets — (8.3)%				(844,038	)


NET ASSETS — 100.0%			$	10,193,090


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Short Positions — 4.1%
Mortgage-Backed Securities — 4.1%
FHLMC Pool, Single Family, 15 years,
3.50%, 12/01/2035		50		48
3.50%, 02/01/2036		173		167
FNMA or FHLMC, Single Family, 15 years,
TBA, 2.00%, 01/01/2039 (w)		200		180
TBA, 3.00%, 01/01/2038 (w)		4,500		4,243
TBA, 3.50%, 01/01/2039 (w)		100		96
TBA, 4.00%, 01/15/2027 (w)		1,900		1,863
FNMA or FHLMC, Single Family, 30 years,
TBA, 2.50%, 01/01/2054 (w)		12,000		10,217
TBA, 3.00%, 01/01/2054 (w)		94,300		83,547
TBA, 3.00%, 02/01/2054 (w)		70,300		62,349
TBA, 3.50%, 01/01/2054 (w)		68,065		62,519
TBA, 3.50%, 02/01/2054 (w)		66,065		60,744
TBA, 4.00%, 01/01/2054 (w)		50		47
TBA, 4.50%, 01/01/2054 (w)		9,900		9,607
TBA, 4.50%, 02/01/2054 (w)		6,600		6,409
TBA, 5.50%, 01/01/2054 (w)		67,600		67,943
TBA, 6.50%, 01/01/2054 (w)		33,200		34,024
FNMA Pool, Single Family, 15 years,
3.50%, 06/01/2035		263		257
3.50%, 04/01/2035		816		787
GNMA II Pool, Single Family, 30 years, 4.00%, 12/20/2050		2,379		2,295
GNMA, Single Family, 30 years, TBA, 2.50%, 01/01/2054 (w)		11,500		10,070


Total Mortgage-Backed Securities (Proceeds $404,426)				417,412


Total Securities Sold Short— 4.1% (Proceeds $404,426)				417,412

Percentages indicated are based on net assets.


ACES		— Alternative Credit Enhancement Securities
ARM		— Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of December 31, 2023.
ASX		— Australian Stock Exchange
BAM		— Insured by Build America Mutual
BBSW		— Bank Bill Swap Rate
CDX		— Credit Default Swap Index
CFETS		— China Foreign Exchange Trade System
CLO		— Collateralized Loan Obligations
CMT		— Constant Maturity Treasury
CPI		— Consumer Price Index
EURIBOR		— Euro Interbank Offered Rate
ESTR		— Euro short-term rate
FHA		— Federal Housing Administration
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
IBR		— Indicador Bancario de Referencia
ICE		— Intercontinental Exchange
IF		— Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of December 31, 2023. The rate may be subject to a cap and floor.
IO		— Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.


KLIBOR		— Kuala Lumpur Interbank Offered Rate
LIBOR		— London Interbank Offered Rate
OYJ		— Public Limited Company
PO		— Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
REIT		— Real Estate Investment Trust
Reg. S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Interbank Average Rate
STRIP		— Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB		— Step-Up Bond. The interest rate shown is the rate in effect as of December 31, 2023.
TBA		— To Be Announced
TONAR		— Tokyo Overnight Average Rate
VA		— Veterans Administration


(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(t)		— The date shown represents the earliest of the next put date or final maturity date.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(x)		— Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of December 31, 2023.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of December 31, 2023.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of December 31, 2023.
(ee)		— Approximately $2,525 of these investments are restricted as collateral for swaps to various brokers.
(ff)		— Approximately $494 of these investments are restricted as collateral for futures to Citigroup Global Markets, Inc.
(gg)		— Position, or portion thereof, has been segregated to collateralize reverse repurchase agreements.
(hh)		— Approximately $4,800 of these investments are restricted as collateral for TBAs to various brokers.


(ii)		— Approximately $1,130 of these investments are restricted as collateral for forwards to various brokers.
(jj)		— Approximately $10,200 of these investments are restricted as collateral for bi-lateral derivatives to various brokers.
AUD		— Australian Dollar
CAD		— Canadian Dollar
CHF		— Swiss Franc
CLP		— Chilean Peso
CNH		— Chinese Yuan
CNY		— Chinese Yuan
COP		— Colombian Peso
CZK		— Czech Koruna
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
HKD		— Hong Kong Dollar
HUF		— Hungarian Forint
IDR		— Indonesian Rupiah
ILS		— Israeli New Shekel
JPY		— Japanese Yen
KRW		— Korean Won
MXN		— Mexican Peso
MYR		— Malaysian Ringgit
NOK		— Norwegian Krone
NZD		— New Zealand Dollar
PEN		— Peruvian Nuevo Sol
PLN		— Polish Zloty
RON		— Romanian Leu
SEK		— Swedish Krona
SGD		— Singapore Dollar
THB		— Thai Baht
USD		— United States Dollar


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Corporate Bond — 0.0% (g)
Consumer Non-cyclical — 0.0% (g)
Healthcare — Services — 0.0% (g)
Tower Health, Series 2020, 4.45%, 02/01/2050 (Cost $866)		1,000		472

Municipal Bonds — 97.2% (t)
Alabama — 3.2%
Alabama Economic Settlement Authority, BP Settlement, Series A, Rev., 4.00%, 09/15/2033		1,000		1,003
Alabama Federal Aid Highway Finance Authority, Garvee,
Series A, Rev., 5.00%, 09/01/2032 (p)		1,160		1,264
Series A, Rev., 5.00%, 09/01/2035 (p)		1,000		1,089
Series A, Rev., 5.00%, 09/01/2036 (p)		2,000		2,131
Alabama Housing Finance Authority, South Oak Residence Project, Rev., 1.25%, 12/01/2025 (z)		4,270		4,169
Alabama Public School and College Authority, Social Bonds,
Series A, Rev., 5.00%, 11/01/2037		6,400		7,267
Series A, Rev., 5.00%, 11/01/2039		10,000		11,221
Alabama Special Care Facilities Financing Authority, Ascension Senior Credit Group, Series C, Rev., 5.00%, 11/15/2046		5,000		5,071
Black Belt Energy Gas District,
Rev., 4.00%, 06/01/2051 (z)		23,030		23,192
Series B1, Rev., 4.00%, 04/01/2053 (z)		2,000		2,004
Series B2, Rev., (SIFMA Municipal Swap Index + 0.65%), 4.52%, 04/01/2053 (aa)		9,250		9,083
Series B, Rev., LIQ: Royal Bank of Canada, 5.25%, 12/01/2053 (z)		4,845		5,271
Series C1, Rev., 5.25%, 02/01/2053 (z)		12,245		13,076
Series C, Rev., 5.50%, 10/01/2054 (z)		5,000		5,524
Series D1, Rev., LIQ: Royal Bank of Canada, 4.00%, 07/01/2052 (z)		3,930		3,952
Black Belt Energy Gas District, Gas Project,
Series D1, Rev., 5.50%, 06/01/2049 (z)		7,100		7,598
Series F, Rev., 5.50%, 11/01/2053 (z)		10,625		11,344
Black Belt Energy Gas District, Gas Project Bonds Project No. 7, Rev., 4.00%, 10/01/2052 (z)		13,120		13,179
Black Belt Energy Gas District, Gas Project No. 8, Series A, Rev., 4.00%, 12/01/2052 (z)		4,910		4,840
Black Belt Energy Gas District, Project No. 4, Series A1, Rev., 4.00%, 12/01/2049 (z)		6,810		6,826
Black Belt Energy Gas District, Project No. 5, Series A1, Rev., 4.00%, 10/01/2049 (z)		5,000		5,017
Black Belt Energy Gas District, Project No. 6, Series B, Rev., 4.00%, 10/01/2052 (z)		9,005		9,045
City of Birmingham, Warrants, Series A, GO, 4.00%, 06/01/2032		4,075		4,344
County of Jefferson, Sewer Revenue, Senior Lien, Warrants, Series A, Rev., AGM, 5.50%, 10/01/2053		500		510


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Alabama — continued
County of Jefferson, Sewer Revenue, Subordinated Lien, Series D, Rev., 6.50%, 10/01/2053		220		231
Energy Southeast A Cooperative District,
Series A1, Rev., 5.50%, 11/01/2053 (z)		1,500		1,642
Series B1, Rev., 5.75%, 04/01/2054 (z)		650		728
Health Care Authority for Baptist Health, Affiliate Of UAB Health System Community, Rev., 5.00%, 11/15/2032		10,495		11,927
Health Care Authority of the City of Huntsville, Health System,
Series B1, Rev., 4.00%, 06/01/2045		1,750		1,717
Series B1, Rev., 5.00%, 06/01/2038		1,000		1,066
Hoover Industrial Development Board, Green Bonds, Rev., AMT, 6.38%, 11/01/2050 (z)		2,375		2,563
Hoover Industrial Development Board, United States Steel Corporation, Rev., AMT, 5.75%, 10/01/2049		3,500		3,556
Huntsville Public Building Authority, Rev., 5.00%, 02/01/2052		3,000		3,204
Industrial Development Board of the City of Mobile Alabama, Alabama Power Co. Barry Plant, Rev., 3.65%, 07/15/2034 (z)		8,795		8,810
Lower Alabama Gas District (The), Gas Project Revenue Bonds, Rev., 4.00%, 12/01/2050 (z)		3,250		3,262
Madison Water & Wastewater Board, Rev., 5.25%, 12/01/2048		1,700		1,931
Selma Industrial Development Board, International Paper Co. Project, Rev., 1.38%, 05/01/2034 (z)		1,000		959
Southeast Alabama Gas Supply District (The), Project No. 2, Series A, Rev., 4.00%, 06/01/2049 (z)		3,765		3,767
Southeast Energy Authority A Cooperative District, Project #4, Series B1, Rev., 5.00%, 05/01/2053 (z)		5,825		6,088
Southeast Energy Authority A Cooperative District, Project #6,
Series B, Rev., LIQ: Royal Bank of Canada, 5.00%, 06/01/2030		2,225		2,400
Series B, Rev., LIQ: Royal Bank of Canada, 5.00%, 01/01/2054 (z)		10,000		10,673
Southeast Energy Authority A Cooperative District, Project 1, Series A, Rev., 4.00%, 11/01/2051 (z)		4,580		4,581
Southeast Energy Authority A Cooperative District, Project 2, Series B, Rev., 4.00%, 12/01/2051 (z)		6,000		5,990
Southeast Energy Authority A Cooperative District, Project No. 3, Series A1, Rev., 5.50%, 01/01/2053 (z)		1,820		1,976
Southeast Energy Authority A Cooperative District, Project No. 5, Series A, Rev., 5.25%, 01/01/2054 (z)		15,000		15,963


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Alabama — continued
State of Alabama Docks Department, Docks,
Series A, Rev., AGM, AMT, 5.00%, 10/01/2025		1,750		1,795
Series A, Rev., AGM, AMT, 5.00%, 10/01/2026		1,890		1,968
Tuscaloosa City Board of Education, Warrants, Rev., 5.00%, 08/01/2041 (p)		2,525		2,675
Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A, Rev., 4.50%, 05/01/2032 (e)		777		740
UAB Medicine Finance Authority, Series B, Rev., 5.00%, 09/01/2041		1,750		1,788
University of South Alabama, Rev., AGM, 4.00%, 11/01/2035		2,000		2,023


				262,043

Alaska — 0.2%
Alaska Housing Finance Corp., General Mortgage, Series B, Rev., 3.25%, 12/01/2044		1,475		1,440
Alaska Housing Finance Corp., Social Bonds State Capital,
Rev., 5.00%, 06/01/2032		920		1,060
Rev., 5.00%, 12/01/2032		945		1,085
City of Anchorage Electric Revenue, Senior Lien, Series A, Rev., 5.00%, 12/01/2041 (p)		1,000		1,017
Northern Tobacco Securitization Corp., Senior, Series B2, Rev., Zero Coupon, 06/01/2066		9,475		1,247
State of Alaska International Airports System,
Series C, Rev., AMT, 5.00%, 10/01/2025		1,000		1,027
Series C, Rev., AMT, 5.00%, 10/01/2027		2,000		2,125
Series C, Rev., AMT, 5.00%, 10/01/2030		5,000		5,554


				14,555

Arizona — 1.5%
Arizona Board of Regents, Series A, Rev., 5.00%, 07/01/2043		2,480		2,719
Arizona Health Facilities Authority, Banner Health, Series A, Rev., 5.00%, 01/01/2044 (p)		1,055		1,055
Arizona Health Facilities Authority, Scottsdale Lincoln Hospital Project, Rev., 5.00%, 12/01/2029		2,705		2,740
Arizona Industrial Development Authority,
Series 2019-2, Rev., 3.63%, 05/20/2033		1,156		1,094
Series A, Rev., 4.00%, 09/01/2035		225		229
Series A, Rev., 4.00%, 09/01/2036		250		253
Arizona Industrial Development Authority, GreatHearts Arizona Project,
Series A, Rev., 5.00%, 07/01/2024		125		126
Series A, Rev., 5.00%, 07/01/2026		125		130


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Arizona — continued
Arizona Industrial Development Authority, Jerome Facilities Project, Series B, Rev., 4.00%, 07/01/2051		2,000		1,778
Arizona Industrial Development Authority, Phoenix Children’s Hospital, Rev., 5.00%, 02/01/2033		2,000		2,327
Arizona Industrial Development Authority, Somerset Academy of Las Vegas, Aliante,
Rev., 3.00%, 12/15/2031 (e)		475		417
Rev., 4.00%, 12/15/2041 (e)		500		416
Rev., 4.00%, 12/15/2051 (e)		700		527
Arizona Industrial Development Authority, Sustainable Bonds Equitable, Rev., 5.00%, 11/01/2028		2,870		3,109
Arizona State University,
Series A, Rev., 5.00%, 07/01/2043		1,105		1,197
Series C, Rev., 5.00%, 07/01/2042		2,000		2,068
Arizona State University, Board of Regents,
Series B, Rev., 5.00%, 07/01/2026		100		106
Series B, Rev., 5.00%, 07/01/2042		2,000		2,112
Chandler Industrial Development Authority, Intel Corp. Project,
Rev., AMT, 5.00%, 09/01/2042 (z)		3,000		3,120
Rev., AMT, 5.00%, 09/01/2052 (z)		2,860		2,974
City of Bullhead Excise Taxes Revenue, Second Series, Rev., 0.60%, 07/01/2024		250		245
City of Mesa, GO, 5.00%, 07/01/2042		5,330		6,179
City of Mesa Utility System Revenue, Rev., 5.00%, 07/01/2032		1,000		1,107
City of Phoenix, Civic Improvement Corp.,
Series A, Rev., 5.00%, 07/01/2029		1,000		1,109
Series A, Rev., 5.00%, 07/01/2031		2,000		2,209
Series A, Rev., 5.00%, 07/01/2032		1,000		1,104
Series A, Rev., 5.00%, 07/01/2034		3,785		4,284
Series B, Rev., 5.00%, 07/01/2024		130		131
City of Phoenix, Civic Improvement Corp., Airport Revenue, Junior Lien,
Series A, Rev., 5.00%, 07/01/2044		1,000		1,082
Series B, Rev., AMT, 5.00%, 07/01/2027		1,500		1,596
Series B, Rev., AMT, 5.00%, 07/01/2033		2,000		2,186
City of Phoenix, Civic Improvement Corp., Junior Lien, Series A, Rev., 5.00%, 07/01/2029		1,515		1,725
City of Phoenix, Civic Improvement Corp., Junior Lien Airport Special Obligation, Rev., 4.00%, 07/01/2040		3,555		3,597
County of Pima Sewer System Revenue, Rev., 5.00%, 07/01/2028		500		556
Gilbert Public Facilities Municipal Property Corp., Rev., 5.00%, 07/01/2026		1,025		1,086
Gilbert Water Resource Municipal Property Corp., Green Bond Senior Lien, Rev., 4.00%, 07/15/2047		1,000		1,013


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Arizona — continued
Industrial Development Authority of the County of Pima (The), American Leadership Academy,
Rev., 4.00%, 06/15/2025 (e)		2,555		2,524
Rev., 4.00%, 06/15/2027 (e)		2,680		2,623
Rev., 4.00%, 06/15/2030 (e)		1,510		1,453
Industrial Development Authority of the County of Pima (The), Tucson Medical Center, Rev., 4.00%, 04/01/2035		825		841
Industrial Development Authority of the County of Yavapai, Waste Management, Inc. Project, Rev., AMT, 1.30%, 06/01/2027		3,260		2,900
Maricopa County Industrial Development Authority, Banner Health,
Rev., 5.00%, 01/01/2053 (z)		2,925		3,165
Series A3, Rev., 5.00%, 01/01/2053 (z)		3,000		3,344
Series A, Rev., 4.00%, 01/01/2041		4,000		4,006
Maricopa County Pollution Control Corp., Southern California Edison, Rev., 2.40%, 06/01/2035		4,280		3,483
Maricopa County Special Health Care District, Series C, GO, 4.00%, 07/01/2037		21,910		22,518
Maricopa County Unified School District No. 69 Paradise Valley, GO, 4.00%, 07/01/2036		1,170		1,215
Maricopa County Unified School District No. 97-Deer Valley, Series E, GO, 5.00%, 07/01/2025		500		516
Salt River Project Agricultural Improvement & Power District, Series A, Rev., 5.00%, 12/01/2045		8,300		8,537
Salt River Project Agricultural Improvement & Power District, Salt River Project,
Series A, Rev., 5.00%, 01/01/2026		3,000		3,142
Series B, Rev., 5.00%, 01/01/2044		3,325		3,802
Salt Verde Financial Corp., Rev., 5.00%, 12/01/2032		420		459
Tempe Industrial Development Authority, Friendship Village of Tempe, Rev., 1.13%, 12/01/2026		170		170


				122,404

Arkansas — 0.2%
Arkansas Development Finance Authority, Rev., 5.00%, 06/01/2027		535		580
Arkansas Development Finance Authority Public Safety Charges Revenue, Division of Emergency Management Project, Rev., 5.00%, 06/01/2024		1,000		1,008
Arkansas Development Finance Authority, Big River Steel Project,
Rev., AMT, 4.50%, 09/01/2049 (e)		3,130		3,106
Rev., AMT, 4.75%, 09/01/2049 (e)		7,000		7,000


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Arkansas — continued
Arkansas Development Finance Authority, Green Bond United States, Rev., AMT, 5.45%, 09/01/2052		3,000		2,999


				14,693

California — 9.5%
Alameda County, Oakland Unified School District, GO, 5.00%, 08/01/2027		65		69
Anaheim City School District, Election 2016, Series A, GO, 4.00%, 08/01/2048		4,000		4,012
Anaheim Housing & Public Improvements Authority, Series A, Rev., 5.00%, 10/01/2050		1,780		1,827
Anaheim Public Financing Authority, Senior Public Improvement Project, Series A, Rev., BAM, 5.00%, 09/01/2036		2,250		2,380
Anaheim Union High School District, Capital Appreciation Election 2002, GO, NATL, Zero Coupon, 08/01/2028		2,175		1,910
Bay Area Toll Authority, San Francisco Bay Area,
Rev., 2.00%, 04/01/2053 (z)		2,200		2,191
Series C, Rev., (SIFMA Municipal Swap Index + 0.45%), 4.32%, 04/01/2056 (aa)		2,675		2,640
Bay Area Toll Authority, San Francisco Bay Area Toll, Rev., (SIFMA Municipal Swap Index + 0.41%), 4.28%, 04/01/2056 (aa)		5,000		4,859
Cabrillo Unified School District, Election 2018, Series B, GO, 5.00%, 08/01/2050		5,000		5,306
California Community Choice Financing Authority, Series B1, Rev., 4.00%, 02/01/2052 (z)		9,655		9,720
California Community Choice Financing Authority, Green Bond, Series A1, Rev., 4.00%, 05/01/2053 (z)		6,860		6,961
California Community Choice Financing Authority, Green Bonds Clean Energy Project,
Rev., 5.00%, 07/01/2053 (z)		12,050		12,800
Rev., 5.00%, 12/01/2053 (z)		6,160		6,546
Rev., 5.00%, 02/01/2054 (z)		3,245		3,503
Rev., 5.25%, 01/01/2054 (z)		14,375		15,206
California Community Choice Financing Authority, Sustainability Bonds Clean Energy, Rev., 5.25%, 11/01/2054 (z)		17,825		19,301
California Community Choice Financing Authority, Sustainable Bond Clean Energy, Rev., 5.50%, 10/01/2054 (z)		2,220		2,463
California County, Tobacco Securitization Agency, Series A, Rev., 5.00%, 06/01/2027		10		11
California County, Tobacco Securitization Agency, Senior Bonds, Merced County Tobacco Funding Corporation, Rev., 5.00%, 06/01/2032		340		377


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
California — continued
California County, Tobacco Securitization Agency, Sonoma County Securitization,
Rev., 5.00%, 06/01/2031		255		283
Rev., 5.00%, 06/01/2032		250		277
Rev., 5.00%, 06/01/2033		300		332
Rev., 5.00%, 06/01/2049		250		258
California Educational Facilities Authority, Loyola Marymount University, Series A, Rev., NATL, Zero Coupon, 10/01/2037		340		203
California Educational Facilities Authority, University Southern California, Series C, Rev., 5.25%, 10/01/2024 (p)		210		214
California Health Facilities Financing Authority, Rev., 5.00%, 10/01/2039 (p) (z)		945		982
California Health Facilities Financing Authority, Adventist Health System, Rev., 3.00%, 03/01/2041 (z)		1,815		1,813
California Health Facilities Financing Authority, Cedars Sinai Health System, Rev., 4.00%, 08/15/2040		4,050		4,173
California Health Facilities Financing Authority, Children’s Hospital,
Rev., 3.00%, 11/01/2039		3,765		3,400
Rev., 4.00%, 11/01/2035		1,460		1,564
California Health Facilities Financing Authority, City of Hope, Rev., 5.00%, 11/15/2049		3,000		3,058
California Health Facilities Financing Authority, Commonspirit Health,
Series A, Rev., 4.00%, 04/01/2037		3,000		3,072
Series A, Rev., 4.00%, 04/01/2038		3,500		3,547
Series A, Rev., 5.00%, 04/01/2033		3,000		3,335
California Health Facilities Financing Authority, Kaiser Permanente,
Series A2, Rev., 4.00%, 11/01/2044		3,000		2,999
Series A-1-S, Rev., 5.00%, 11/01/2027		2,500		2,746
Series A-2, Rev., 4.00%, 11/01/2038		6,270		6,380
California Health Facilities Financing Authority, PIH Health, Series A, Rev., 5.00%, 06/01/2035		3,010		3,310
California Health Facilities Financing Authority, Stanford Health Care, Series A, Rev., 5.00%, 11/15/2030		2,000		2,195
California Health Facilities Financing Authority, Sutter Health,
Series A, Rev., 4.00%, 11/15/2048		2,240		2,212
Series A, Rev., 5.00%, 08/15/2043 (p)		465		482
California Health Facilities Financing Authority, Unrefunded, Rev., 5.00%, 10/01/2039 (z)		1,055		1,083
California Housing Finance Agency, Series 2021-1, Rev., 3.50%, 11/20/2035		959		934
California Housing Finance Agency, Sustainable Certificates, Series A, Rev., 3.25%, 08/20/2036		6,659		6,263


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

California — continued
California Housing Finance Agency, Symphony at Del Sur, Rev., 5.00%, 05/01/2054 (z)		425		445
California Infrastructure & Economic Development Bank, Brightline West Passenger, Rev., AMT, 3.65%, 01/01/2050 (e) (z)		11,995		11,982
California Infrastructure & Economic Development Bank, J. Paul Getty Trust, Rev., 3.00%, 10/01/2047 (z)		1,000		1,003
California Infrastructure & Economic Development Bank, Los Angeles County, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 4.57%, 12/01/2050 (aa)		1,370		1,335
California Infrastructure & Economic Development Bank, Sanford Consortium Project, Series A, Rev., 5.00%, 05/15/2031		1,230		1,310
California Municipal Finance Authority, Community Facilities No. 2023-5 Improvement, Special Tax, 5.50%, 09/01/2048		600		624
California Municipal Finance Authority, Draw Down Waste Management, Rev., AMT, 4.80%, 11/01/2041 (z)		1,460		1,470
California Municipal Finance Authority, Open Door Community Health Center,
Rev., 4.00%, 09/15/2034		920		990
Rev., 4.00%, 09/15/2035		960		1,022
Rev., 4.00%, 09/15/2036		1,000		1,048
California Municipal Finance Authority, Republic Services, Rev., AMT, 4.38%, 09/01/2053 (z)		4,350		4,470
California Municipal Finance Authority, Simpson University, Series A, Rev., 6.00%, 10/01/2050 (e)		2,000		2,018
California Municipal Finance Authority, Southern California Institute, Rev., 5.00%, 12/01/2037		745		777
California Municipal Finance Authority, Subordinate Caritas Project, Series B, Rev., 4.00%, 08/15/2041		300		286
California Municipal Finance Authority, Sustainable Bond, Rev., AMT, 4.00%, 12/15/2042 (e) (z)		5,000		5,000
California Municipal Finance Authority, Taxable Virginia Oceanside Health Care Center, Rev., 3.64%, 07/01/2030 (e)		2,985		2,655
California Municipal Finance Authority, Waste Management, Inc. Project,
Rev., AMT, 4.50%, 10/01/2045 (z)		5,000		5,001
Series A, Rev., AMT, 2.40%, 10/01/2044 (z)		4,960		4,592


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
California — continued
California Pollution Control Financing Authority, Plant Bonds,
Rev., AMT, 5.00%, 07/01/2037 (e)		1,500		1,501
Rev., AMT, 5.00%, 11/21/2045 (e)		5,000		5,000
California Pollution Control Financing Authority, Poseidon Resources, Rev., AMT, 5.00%, 07/01/2037 (e)		2,200		2,328
California Public Finance Authority, Enso Village Project, Rev., 2.13%, 11/15/2027 (e)		855		854
California Public Finance Authority, Enso Village Project, Green Bond, Rev., 5.00%, 11/15/2036 (e)		325		326
California Public Finance Authority, Henry Mayo Newhall Hospital, Rev., 5.00%, 10/15/2032		1,000		1,027
California Public Finance Authority, Sharp Healthcare,
Series A, Rev., 5.00%, 08/01/2028 (w)		4,970		5,545
Series A, Rev., 5.00%, 08/01/2030 (w)		2,040		2,373
California School Finance Authority, Rocketship Education Obligated, Series A, Rev., 5.00%, 06/01/2034 (e)		1,230		1,249
California State Public Works Board, Series H, Rev., 5.00%, 12/01/2026		1,000		1,044
California State Public Works Board, Corrections Facilities, Series A, Rev., 5.00%, 09/01/2039		7,560		7,630
California State Public Works Board, Forward Delivery, Series A, Rev., 5.00%, 02/01/2030		2,500		2,888
California State Public Works Board, Various Capital Projects,
Rev., 4.00%, 11/01/2030		1,245		1,293
Rev., 4.00%, 11/01/2031		1,000		1,036
Rev., 5.00%, 11/01/2026		565		605
Rev., 5.00%, 09/01/2028		1,810		2,028
Series D, Rev., 4.00%, 11/01/2037		1,000		1,065
California State Public Works Board, Various Corrections Facilities, Series A, Rev., 5.00%, 09/01/2031		4,560		4,615
California State University, Series A, Rev., 5.00%, 11/01/2044		2,640		2,897
California State University, Systemwide, Series A, Rev., 4.00%, 11/01/2035		1,000		1,022
California Statewide Communities Development Authority, Series B, Special Assessment, 4.00%, 09/02/2040		570		552
California Statewide Communities Development Authority, Enloe Medical Center, Series A, Rev., AGM, 5.13%, 08/15/2047		500		554
California Statewide Communities Development Authority, Green Bond, Marin General Hospital, Rev., 4.00%, 08/01/2045		3,000		2,760


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

California — continued
California Statewide Communities Development Authority, Loma Linda University Medical, Rev., 5.50%, 12/01/2058 (e)		2,000		2,045
California Statewide Communities Development Authority, Loma Linda University Medical Center,
Rev., 5.25%, 12/01/2044		6,065		6,080
Rev., 5.50%, 12/01/2054		1,100		1,098
Series A, Rev., 5.00%, 12/01/2026 (e)		300		310
Series A, Rev., 5.00%, 12/01/2041 (e)		2,000		1,996
Series A, Rev., 5.25%, 12/01/2056 (e)		3,000		3,009
California Statewide Communities Development Authority, Montage Health, Series A, Rev., 4.00%, 06/01/2028		435		463
California Statewide Communities Development Authority, Southern California Edison, Rev., 4.50%, 11/01/2033		1,000		1,089
Chino Valley Unified School District, Election of 2016, Series C, GO, Zero Coupon, 08/01/2034		125		88
City & County of San Francisco Special Tax District No. 2020-1, Mission Rock Facilities and Services,
Special Tax, 4.00%, 09/01/2031 (e)		300		304
Special Tax, 4.00%, 09/01/2036 (e)		155		154
City & County of San Francisco Special Tax District No. 2020-1, Special Tax,
Special Tax, 5.50%, 09/01/2043 (e)		2,060		2,153
City of Dixon, Community Facilities District Improvement, Special Tax, 4.00%, 09/01/2036		200		202
City of Fresno, Airport Revenue, Series A, Rev., BAM, AMT, 5.00%, 07/01/2048		1,000		1,072
City of Long Beach Airport System Revenue,
Series C, Rev., AGM, AMT, 5.00%, 06/01/2042		1,000		1,085
Series C, Rev., AGM, AMT, 5.25%, 06/01/2047		1,000		1,086
City of Los Angeles Department of Airports,
Rev., AMT, 5.00%, 05/15/2026		1,500		1,561
Series B, Rev., AMT, 5.00%, 05/15/2027		1,000		1,061
Series B, Rev., AMT, 5.00%, 05/15/2046		21,965		22,261
City of Los Angeles Department of Airports, Los Angeles International Airport, Rev., AMT, 5.00%, 05/15/2032		1,000		1,092
City of Los Angeles Department of Airports, Senior,
Series A, Rev., AMT, 4.75%, 05/15/2040		2,415		2,443
Series B, Rev., 5.00%, 05/15/2034		1,600		1,868
Series C, Rev., AMT, 5.00%, 05/15/2036		4,090		4,494
City of Los Angeles Department of Airports, Senior Bonds Green Bond Project,
Rev., AMT, 5.00%, 05/15/2029		4,000		4,394
Rev., AMT, 5.25%, 05/15/2047		4,000		4,351


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
California — continued
City of Los Angeles Department of Airports, Subordinate,
Series B, Rev., 5.00%, 05/15/2040		900		1,024
Series C, Rev., AMT, 5.00%, 05/15/2033		1,330		1,415
Series C, Rev., 5.00%, 05/15/2038		2,000		2,048
Series D, Rev., AMT, 5.00%, 05/15/2027		2,605		2,765
Series D, Rev., AMT, 5.00%, 05/15/2028		500		540
Series D, Rev., AMT, 5.00%, 05/15/2029		4,485		4,924
Series E, Rev., 5.00%, 05/15/2039		1,510		1,656
Series E, Rev., 5.00%, 05/15/2044		1,000		1,080
City of Los Angeles Department of Airports, Subordinate Los Angeles International Airport,
Rev., AMT, 5.00%, 05/15/2027		1,235		1,311
Rev., AMT, 5.00%, 05/15/2029		1,000		1,098
Rev., 5.00%, 05/15/2036		1,000		1,131
Rev., AMT, 5.25%, 05/15/2038		1,735		1,848
City of Los Angeles Department of Airports, Subordinate P3 Project,
Series A, Rev., AMT, 5.00%, 05/15/2026		1,180		1,228
Series A, Rev., AMT, 5.00%, 05/15/2046		8,000		8,504
City of Los Angeles Department of Airports, Sustainable Bond Subordinate, Rev., AMT, 5.00%, 05/15/2036		1,650		1,885
City of Los Angeles Department of Airports, Unrefunded Subordinate, Rev., AMT, 4.00%, 05/15/2038		1,995		2,026
City of Los Angeles Wastewater System Revenue, Subordinate, Series C, Rev., 5.00%, 06/01/2026		500		531
City of Roseville, Special Tax,
5.00%, 09/01/2035		1,160		1,243
4.00%, 09/01/2040		1,000		960
City of San Francisco, Public Utilities Commission Water Revenue, Regional Water, Series B, Rev., 5.00%, 11/01/2050		4,235		4,460
City of Santa Rosa Wastewater Revenue, Series A, Rev., 5.00%, 09/01/2033		1,770		2,063
City of Victorville Electric Revenue,
Series A, Rev., 5.00%, 05/01/2038		1,055		1,185
Series A, Rev., 5.00%, 05/01/2039		1,110		1,241
City of Woodland, Facilities District Number 2004 1 Capital Project, Special Tax, 4.00%, 09/01/2041		500		501
Coachella Valley Water District Drinking Water System Revenue, Notes, Series A, Rev., 1.38%, 06/01/2025		2,000		1,940
Coast Community College District, Election of 2012, Series F, GO, Zero Coupon, 08/01/2040		3,020		1,559
Compton Community Redevelopment Agency Successor Agency, Series A, Tax Allocation, AGM, 5.00%, 08/01/2042		750		834


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

California — continued
Compton Unified School District, Series B, GO, BAM, Zero Coupon, 06/01/2036		1,400		861
County of Los Angeles Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2033		105		116
County of Los Angeles, Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2042		540		569
County of Sacramento, Community Facilities District #2004-1, Special Tax, 5.00%, 09/01/2035		1,335		1,386
CSCDA Community Improvement Authority, Series A, Rev., 5.00%, 01/01/2054 (e)		3,295		2,632
CSCDA Community Improvement Authority, Renaissance at City Center, Series A, Rev., 5.00%, 07/01/2051 (e)		215		201
CSCDA Community Improvement Authority, Social Bonds, Rev., 4.00%, 08/01/2056 (e)		410		308
CSCDA Community Improvement Authority, Union South Bay, Social Bonds, Rev., 4.00%, 07/01/2056 (e)		2,000		1,451
Department of Veterans Affairs, Veteran’s Farm & Home Purchase Program, Series A, Rev., 3.00%, 12/01/2050		750		737
East Bay Municipal Utility District Water System Revenue, Green Bond, Series A, Rev., 5.00%, 06/01/2035		1,200		1,306
East Side Union High School District, 2014 Election Education Tech,
Series D, GO, 5.00%, 08/01/2024		300		304
Series D, GO, 5.00%, 08/01/2025		400		414
Eastern Municipal Water District, Series A, Rev., 3.00%, 07/01/2024		30		30
Elk Grove Finance Authority, Special Tax, 4.00%, 09/01/2040		1,280		1,230
FHLMC Multifamily ML Certificates, Series 2021-ML10, Class A, Rev., 2.03%, 01/25/2038 (e)		335		260
Foothill-De Anza Community College District, Capital Appreciation, Series B, GO, AMBAC, Zero Coupon, 08/01/2032		7,930		6,319
Fremont Unified School District, Series D, GO, 3.00%, 08/01/2033		1,205		1,202
Fremont Unified School District, Election 2014, Series E, GO, 4.00%, 08/01/2042		2,230		2,295
Fresno Unified School District, Series D, GO, 2.00%, 08/01/2024		100		99
Golden State Tobacco Securitization Corp., Subordinated, Series B2, Rev., Zero Coupon, 06/01/2066		15,000		1,765
Golden State Tobacco Securitization Corp., Taxable Tobacco Settlement Asset Backed Bonds, Series C, Rev., 2.75%, 06/01/2034		1,900		1,599


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
California — continued
Golden State Tobacco Securitization Corp., Tobacco Settlement Asset Backed Bonds, Rev., 5.00%, 06/01/2051		2,235		2,342
Hayward Unified School District, COP, 5.25%, 08/01/2047		3,000		3,146
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Green Bond Measure R, Rev., 5.00%, 06/01/2027		1,000		1,092
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Proposition C, Series A, Rev., 5.00%, 07/01/2027		1,255		1,375
Los Angeles County Metropolitan Transportation Authority, Measure R Junior Subordinated, Green Bonds, Series A, Rev., 5.00%, 06/01/2034		7,000		7,607
Los Angeles County Sanitation Districts Financing Authority, Series A, Rev., 4.00%, 10/01/2033		1,000		1,033
Los Angeles County, Metropolitan Transportation Authority, Green Bond, Measure R Junior Subordinated, Series A, Rev., 5.00%, 06/01/2030		1,500		1,762
Los Angeles Department of Water,
Series B, Rev., 4.00%, 07/01/2027		1,500		1,591
Series B, Rev., 4.00%, 07/01/2029		1,000		1,095
Series B, Rev., 5.00%, 07/01/2037		740		815
Los Angeles Department of Water & Power,
Series A, Rev., 5.00%, 07/01/2029		3,000		3,456
Series B, Rev., 5.00%, 07/01/2039		500		584
Series C, Rev., 5.00%, 07/01/2038		275		321
Series E, Rev., 5.00%, 07/01/2044		2,000		2,011
Los Angeles Department of Water & Power Water System Revenue,
Series A, Rev., 4.00%, 07/01/2047		8,000		8,033
Series A, Rev., 5.00%, 07/01/2044		1,000		1,006
Los Angeles Department of Water & Power, Power System Bonds, Series C, Rev., 5.00%, 07/01/2037		1,000		1,129
Los Angeles Department of Water & Power, Power System Revenue,
Series A, Rev., 5.25%, 07/01/2049		9,500		10,311
Series B, Rev., 5.00%, 07/01/2038		1,000		1,061
Los Angeles Unified School District,
Series A, GO, 3.00%, 01/01/2034		2,000		1,989
Series C, GO, 4.00%, 07/01/2036		1,000		1,077
Series C, GO, 4.00%, 07/01/2038		2,860		3,018
Series C, GO, 5.00%, 07/01/2026		2,285		2,431
Series RYQ, GO, 5.00%, 07/01/2035		1,280		1,490
Los Angeles Unified School District, Election 2008, Series B1, GO, BAM, 5.00%, 07/01/2029		100		111


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

California — continued
Los Angeles Unified School District, Sustainability Bonds, Series QRR, GO, 5.00%, 07/01/2026		550		585
Marin Municipal Water District, Subordinate, Rev., 4.00%, 06/15/2045		3,500		3,598
Metropolitan Water District of Southern California, Rev., 5.00%, 01/01/2038		3,015		3,300
Municipal Improvement Corp. of Los Angeles, Real Property, Series B, Rev., 5.00%, 11/01/2039		2,535		2,886
Natomas Unified School District,
Series A, GO, AGM, 4.00%, 08/01/2045		7,740		7,663
Series A, GO, AGM, 4.00%, 08/01/2049		2,655		2,607
Norman Y Mineta San Jose International Airport SJC,
Series A, Rev., AMT, 5.00%, 03/01/2027		1,480		1,559
Series A, Rev., AMT, 5.00%, 03/01/2031		1,000		1,115
Series A, Rev., AMT, 5.00%, 03/01/2032		2,000		2,226
Series A, Rev., AMT, 5.00%, 03/01/2036		1,160		1,207
Northern California Energy Authority, Series A, Rev., 4.00%, 07/01/2049 (z)		2,000		2,002
Norwalk-La Mirada Unified School District, Series D, GO, 3.00%, 08/01/2043		2,000		1,755
Norwalk-La Mirada Unified School District, Election 2014, Series E, GO, 3.00%, 08/01/2050		10,000		8,103
Oakland Unified School District, Election Of 2020,
Series A, GO, AGM, 5.00%, 08/01/2037		1,850		2,208
Series A, GO, AGM, 5.25%, 08/01/2041		1,410		1,673
Oakland Unified School District/Alameda County, Election Of 2012, Series A, GO, AGM, 4.00%, 08/01/2034		1,000		1,039
Ontario International Airport Authority, Series A, Rev., AGM, 5.00%, 05/15/2046		1,500		1,650
Orange County Community Facilities District, District No. 2021-1 Rienda, Series A, Special Tax, 5.00%, 08/15/2033		300		331
Orange County Transportation Authority, 405 Improvement Project, Rev., BAN, 5.00%, 10/15/2024 (p)		3,230		3,287
Oxnard Union High School District, Series B, GO, 5.00%, 08/01/2045		3,000		3,213
Palo Alto Unified School District, Capital Appreciation Election Of 2008, GO, Zero Coupon, 08/01/2032		15,385		12,135
Palomar Health, Rev., 5.00%, 11/01/2039		4,000		4,065
Palomar Health, Capital Appreciation, Electric of 2004,
Series A, GO, AGC, Zero Coupon, 08/01/2028		500		435
Series A, GO, AGC, Zero Coupon, 08/01/2031		330		261
Peralta Community College District, GO, 5.25%, 08/01/2037		2,000		2,417


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
California — continued
Pittsburg Public Financing Authority, Series A, Rev., AGM, 4.13%, 08/01/2047		1,400		1,442
Port of Oakland, Intermediate Lien,
Series H, Rev., AMT, 5.00%, 05/01/2027		2,500		2,658
Series H, Rev., AMT, 5.00%, 05/01/2028		4,275		4,615
Series H, Rev., AMT, 5.00%, 05/01/2029		980		1,072
River Islands Public Financing Authority, Community Facilities District No. 2003-1, Special Tax, AGM, 5.25%, 09/01/2052		1,085		1,194
Sacramento City Unified School District, GO, BAM, 5.00%, 07/01/2031		525		620
Sacramento City Unified School District, Election of 2020 Measure,
GO, BAM, 5.00%, 08/01/2024		860		870
GO, BAM, 5.00%, 08/01/2038		500		565
Sacramento County Sanitation Districts Financing Authority, Series A, Rev., 5.00%, 12/01/2044		4,250		4,265
Sacramento Municipal Utility District, Electric, Series H, Rev., 4.00%, 08/15/2040		2,000		2,073
San Bernardino Community College District, Election of 2018, Series A, GO, 3.00%, 08/01/2041 (p)		2,000		2,055
San Diego Community College District, GO, 4.00%, 08/01/2032 (p)		2,910		3,029
San Diego County Regional Airport Authority, Subordinate, Series B, Rev., AMT, 4.00%, 07/01/2036		1,090		1,121
San Diego County Regional Airport Authority, Subordinated,
Rev., 5.00%, 07/01/2034		1,000		1,157
Series B, Rev., AMT, 5.00%, 07/01/2031		775		817
San Diego Public Facilities Financing Authority, Series A, Rev., 5.00%, 05/15/2039		1,565		1,633
San Diego Unified School District, Series K2, GO, Zero Coupon, 07/01/2038		2,045		1,163
San Diego Unified School District, Election 2008, Series E, GO, Zero Coupon, 07/01/2034		1,250		894
San Diego Unified School District, Election 2012, Series I, GO, 4.00%, 07/01/2047		8,000		8,041
San Diego Unified School District, Election Of 2008,
Series SR-3A, GO, 5.00%, 07/01/2034		500		621
Series SR-3A, GO, 5.00%, 07/01/2035		500		618
San Dieguito School Facilities Financing Authority, Special Tax, 5.00%, 03/01/2031		1,030		1,135
San Francisco Bay Area Rapid Transit District Sales Tax Revenue, Series A, Rev., 4.00%, 07/01/2037		2,350		2,430
San Francisco Bay Area Rapid Transit District, Election 2004, Green Bond, GO, 5.00%, 08/01/2036		1,875		2,019


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

California — continued
San Francisco Bay Area Rapid Transit District, Green Bonds, Series C1, GO, 4.00%, 08/01/2032		1,000		1,086
San Francisco Bay Area Rapid Transit District, Sustainable Bond Transit District, GO, 3.00%, 08/01/2037		2,495		2,320
San Francisco City & County Airport Commission-San Francisco International Airport,
Series H, Rev., AMT, 5.00%, 05/01/2025		1,500		1,538
Series H, Rev., AMT, 5.00%, 05/01/2028		3,000		3,226
San Francisco City & County Airport Commission-San Francisco International Airport, Unrefunded,
Rev., AMT, 5.00%, 05/01/2027		775		819
Series A, Rev., AMT, 5.00%, 05/01/2044		1,495		1,496
San Francisco City & County Airport Comm-San Francisco International Airport,
Series A, Rev., AMT, 5.00%, 05/01/2025		2,000		2,051
Series A, Rev., AMT, 5.00%, 05/01/2027		3,000		3,170
Series A, Rev., AMT, 5.00%, 05/01/2030		2,000		2,217
Series A, Rev., AMT, 5.00%, 05/01/2032		2,000		2,244
Series C, Rev., 5.00%, 05/01/2046		1,920		1,979
Series H, Rev., AMT, 5.00%, 05/01/2027		5,500		5,815
San Francisco City & County Public Utilities Commission Wastewater Revenue, Green Bonds, Series C, Rev., 4.00%, 10/01/2048 (z)		2,290		2,422
San Francisco City & County Redevelopment Agency Successor Agency, Community Facilities No. 6 Mission Bay,
Special Tax, AGM, 5.00%, 08/01/2036		1,000		1,182
Special Tax, AGM, 5.25%, 08/01/2037		1,000		1,192
Special Tax, AGM, 5.25%, 08/01/2038		1,000		1,182
San Jacinto Unified School District, Election 2016, GO, 4.00%, 08/01/2042		3,870		4,027
San Joaquin Hills Transportation Corridor Agency, Junior Lien,
Series B, Rev., 5.25%, 01/15/2044		8,020		8,067
Series B, Rev., 5.25%, 01/15/2049		8,000		8,030
San Joaquin Hills Transportation Corridor Agency, Senior Lien Toll Road, Rev., 4.00%, 01/15/2034		3,000		3,229
San Jose Unified School District, Taxable, GO, 1.01%, 08/01/2027		1,700		1,517
San Mateo County Community College District, Capital Appreciation Election 2005, Series B, GO, NATL, Zero Coupon, 09/01/2035		1,955		1,380
Santa Clara Valley Water District, Water System Utility Improvement, COP, 5.00%, 06/01/2038		2,495		2,847
Santaluz Community Facilities District No. 2, Special Tax, 3.00%, 09/01/2024		95		95


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
California — continued
Sierra View Local Health Care District, Tulare Co., Rev., 4.00%, 07/01/2024		475		476
South San Francisco Public Facilities Financing Authority, Multiple Capital Projects at Orange Memorial Park, Rev., 5.25%, 06/01/2046		1,000		1,105
Southern California Public Power Authority, Green Bond Milford Wind Co.,
Rev., 5.00%, 07/01/2024		40		41
Rev., 5.00%, 07/01/2025		250		259
State of California,
GO, 3.00%, 11/01/2040		500		459
GO, 4.00%, 11/01/2041		1,000		1,010
GO, 5.00%, 09/01/2024		1,670		1,695
GO, 5.00%, 10/01/2026		2,000		2,134
GO, 5.00%, 04/01/2027		145		157
GO, 5.00%, 09/01/2027		2,000		2,184
GO, 5.00%, 04/01/2028		1,000		1,107
GO, 5.00%, 09/01/2028		3,160		3,534
GO, 5.00%, 04/01/2029		80		91
GO, 5.00%, 09/01/2029		2,005		2,294
GO, 5.00%, 11/01/2029		8,215		9,431
GO, 5.00%, 09/01/2034		6,000		7,020
GO, 5.00%, 10/01/2047		1,500		1,554
Series CU, GO, 5.50%, 12/01/2052		240		266
State of California, Bidding Group A, GO, 5.00%, 09/01/2027		3,000		3,277
State of California, Taxable, GO, 4.60%, 04/01/2038		11,000		10,605
State of California, Taxable Bidding Group A, GO, 1.75%, 10/01/2028		5,000		4,434
State of California, Taxable Group B, GO, 5.50%, 10/01/2025		9,000		9,109
State of California, Various Purpose,
GO, 4.00%, 09/01/2031		1,000		1,026
GO, 4.00%, 11/01/2033		3,550		3,710
GO, 4.00%, 10/01/2035		2,825		3,074
GO, 4.00%, 10/01/2036		8,850		9,559
GO, 4.00%, 10/01/2037		6,000		6,427
GO, 5.00%, 10/01/2029		1,000		1,146
GO, 5.00%, 04/01/2031		1,000		1,181
GO, 5.00%, 03/01/2034		2,180		2,511
GO, 5.00%, 03/01/2035		505		581
GO, 5.00%, 04/01/2035		1,000		1,126
State of California, Veterans Bonds, GO, 5.00%, 12/01/2031		5,500		5,597
Stockton Unified School District, Series B, GO, AGM, 5.00%, 08/01/2031		5,000		5,936
Tobacco Securitization Authority of Southern California, San Diego County Tobacco Asset Securitization,
Rev., 5.00%, 06/01/2027		750		790
Rev., 5.00%, 06/01/2028		750		803
University of California,
Series AR, Rev., 5.00%, 05/15/2041		2,000		2,087


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

California — continued
Series BM, Rev., 5.00%, 05/15/2029		5,000		5,746
Series BN, Rev., 5.00%, 05/15/2037		1,000		1,219
Series BN, Rev., 5.00%, 05/15/2038		5,000		6,019
Series S, Rev., 5.00%, 05/15/2031		1,500		1,796
University of California, Limited Project,
Series K, Rev., 5.00%, 05/15/2035		1,980		2,080
Series M, Rev., 4.00%, 05/15/2047		1,300		1,307
Series M, Rev., 5.00%, 05/15/2034		1,500		1,626
University of California, Limited Project Bonds, Series Q, Rev., 4.00%, 05/15/2040		1,000		1,034
University of California, Limited Project Revenue Bonds, Series Q, Rev., 5.00%, 05/15/2032		350		419
Upper Santa Clara Valley Joint Powers Authority,
Series A, Rev., 4.00%, 08/01/2045		1,500		1,503
Series A, Rev., 4.00%, 08/01/2050		2,000		1,988
Victor Valley Union High School District, Series B, GO, AGM, 4.00%, 08/01/2036		1,270		1,298
West Contra Costa Healthcare District, Special Tax, 5.00%, 07/01/2027		805		876
William S Hart Union High School District, Capital Appreciation Election 2001, Series B, GO, AGM, Zero Coupon, 09/01/2025		1,960		1,861


				772,272

Colorado — 3.0%
Adams & Weld Counties School District No. 27J Brighton, GO, 5.00%, 12/01/2042		1,000		1,060
Aerotropolis Regional Transportation Authority, Rev., 4.25%, 12/01/2041		500		426
Alpine Mountain Ranch Metropolitan District Special Improvement District No. 1, Special Assessment, 4.00%, 12/01/2040		500		428
Board of Water Commissioners City & County of Denver, Green Bond, Series A, Rev., 4.00%, 09/15/2042		2,180		2,199
Brighton Crossing Metropolitan District No. 6, Series A, GO, 5.00%, 12/01/2035		525		504
Castle Oaks Metropolitan District No. 3, GO, AGM, 4.00%, 12/01/2026		220		227
Centerra Metropolitan District No. 1, Rev., 6.50%, 12/01/2053		500		508
City & County of Denver Airport System Revenue,
Series A, Rev., AMT, 4.00%, 11/15/2041		3,000		3,025
Series A, Rev., AMT, 5.00%, 11/15/2026		3,500		3,679
Series A, Rev., AMT, 5.00%, 11/15/2027		3,000		3,214
Series A, Rev., AMT, 5.00%, 11/15/2028		1,000		1,087
Series A, Rev., AMT, 5.00%, 11/15/2029		1,000		1,103
Series A, Rev., AMT, 5.00%, 12/01/2030		3,000		3,339
Series A, Rev., AMT, 5.00%, 11/15/2047		5,000		5,351
Series A, Rev., AMT, 5.50%, 11/15/2053		4,000		4,396
Series B2, Rev., AMT, 5.00%, 11/15/2031 (z)		1,000		1,028


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Colorado — continued
Series B, Rev., 5.25%, 11/15/2053		4,775		5,340
Series D, Rev., AMT, 5.75%, 11/15/2040		4,750		5,528
Series D, Rev., AMT, 5.75%, 11/15/2041		3,000		3,476
Series D, Rev., AMT, 5.75%, 11/15/2045		11,050		12,615
City & County of Denver Airport System Revenue, Subordinate,
Series B, Rev., AMT, 5.00%, 11/15/2029		3,250		3,569
Series B, Rev., AMT, 5.00%, 11/15/2030		6,215		6,914
Series B, Rev., AMT, 5.00%, 11/15/2031		4,250		4,763
Series B, Rev., AMT, 5.50%, 11/15/2037		700		822
City & County of Denver Airport System Revenue, Subordinated,
Series A, Rev., AMT, 5.00%, 12/01/2027		5,840		6,240
Series A, Rev., AMT, 5.00%, 12/01/2034		2,510		2,686
Series A, Rev., AMT, 5.00%, 12/01/2043		3,000		3,115
City & County of Denver Dedicated Excise Tax Revenue, Series A, Rev., 4.00%, 08/01/2051		9,925		9,689
Colorado Bridge Enterprise, Central 70 Project,
Rev., AMT, 4.00%, 12/31/2025		1,000		1,011
Rev., AMT, 4.00%, 12/31/2030		1,505		1,515
Colorado Educational & Cultural Facilities Authority, Aspen View Academy Project,
Rev., 4.00%, 05/01/2036		175		171
Rev., 4.00%, 05/01/2041		175		160
Colorado Health Facilities Authority, AdventHealth Obligated Group,
Rev., 3.00%, 11/15/2051		9,790		7,339
Rev., 4.00%, 11/15/2038		2,000		2,039
Rev., 5.00%, 11/15/2038		1,000		1,122
Colorado Health Facilities Authority, Adventist Health System, Rev., 5.00%, 11/15/2036 (z)		1,295		1,368
Colorado Health Facilities Authority, Children’s Hospital, Series C, Rev., 5.00%, 12/01/2030		1,000		1,047
Colorado Health Facilities Authority, Commonspirit Health,
Rev., 5.25%, 11/01/2052		2,710		2,876
Series A1, Rev., 5.00%, 08/01/2027		1,025		1,087
Series A1, Rev., 5.00%, 08/01/2034		1,240		1,355
Series A2, Rev., 5.00%, 08/01/2028		2,215		2,390
Series A2, Rev., 5.00%, 08/01/2044		18,440		19,203
Colorado Health Facilities Authority, Improvement Bonds Christian Living Communities, Rev., 4.00%, 01/01/2042		500		422
Colorado Health Facilities Authority, Intermountain Healthcare, Rev., 5.00%, 05/15/2052		2,500		2,700
Colorado Health Facilities Authority, Sanford Health, Series A, Rev., 4.00%, 11/01/2039		1,020		1,041
Colorado Health Facilities Authority, SCL Health System, Series A, Rev., 5.00%, 01/01/2030		1,175		1,344


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Colorado — continued
Colorado Housing and Finance Authority, Series H, Rev., GNMA COLL, 3.00%, 05/01/2050		1,750		1,709
Colorado Housing and Finance Authority, Class III Bonds Sustainable Bond, Rev., GNMA COLL, 6.50%, 05/01/2054		700		789
Colorado Housing and Finance Authority, Social Bonds,
Series E, Rev., GNMA, 3.00%, 11/01/2051		2,535		2,461
Series H, Rev., GNMA, 3.00%, 11/01/2051		1,120		1,084
Series I, Rev., GNMA COLL, 6.00%, 05/01/2053		1,380		1,527
Series L, Rev., GNMA COLL, 3.25%, 11/01/2051		1,545		1,509
Colorado Housing and Finance Authority, Wintergreen Ridge Apartments Project, Rev., 4.00%, 05/01/2041 (z)		80		80
Copperleaf Metropolitan District No. 2, GO, BAM, 4.00%, 12/01/2025		470		480
Crystal Valley, Metropolitan District No. 2,
Series A, GO, AGM, 5.00%, 12/01/2028		500		556
Series A, GO, AGM, 5.00%, 12/01/2030		360		415
Denver City & County, School District No. 1, GO, 5.00%, 12/01/2029		1,000		1,067
Denver Convention Center Hotel Authority, Senior, Rev., 5.00%, 12/01/2036		1,320		1,342
Denver Urban Renewal Authority, Senior Subordinated Stapleton, Series B, Tax Allocation, 5.00%, 12/01/2025		500		520
E-470 Public Highway Authority, Series B, Rev., (United States SOFR * 0.67 + 0.35%), 3.96%, 09/01/2039 (aa)		1,485		1,481
E-470 Public Highway Authority, Capital Appreciation, Series A, Rev., NATL, Zero Coupon, 09/01/2027		1,250		1,121
E-470 Public Highway Authority, Capital Appreciation School Reform, Series B, Rev., NATL, Zero Coupon, 09/01/2030		290		237
E-470 Public Highway Authority, Senior,
Series A, Rev., 5.00%, 09/01/2027		1,000		1,084
Series A, Rev., 5.00%, 09/01/2028		1,000		1,104
Series A, Rev., 5.00%, 09/01/2040		2,775		2,799
Falcon Area Water & Wastewater Authority, Series A, Rev., 6.75%, 12/01/2034 (e)		3,000		3,049
Garfield Pitkin & Eagle Counties School District No. RE-1 Roaring Fork, GO, 4.00%, 12/15/2034 (p)		2,000		2,054
Jefferson Center Metropolitan District No. 1,
Series A2, Rev., 4.13%, 12/01/2040		575		503
Series A2, Rev., 4.38%, 12/01/2047		795		672
Jefferson County School District, Series R1, GO, 5.00%, 12/15/2031		2,000		2,233


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Colorado — continued
Jefferson County School District No. R-1, GO, 4.00%, 12/15/2032		1,500		1,635
Peak Metropolitan District No. 3, GO, 0.00%, 12/01/2042		3,950		2,317
Public Authority for Colorado Energy, Rev., 6.50%, 11/15/2038		6,000		7,560
Pueblo Urban Renewal Authority, EVRAZ Project Tax Increment, Tax Allocation, 4.75%, 12/01/2045 (e)		635		432
Regional Transportation District Sales Tax Revenue, Fastracks Project, Series A, Rev., 5.00%, 11/01/2033		1,000		1,221
Regional Transportation District, Denver Transit Partners Eagle,
Series A, Rev., 5.00%, 07/15/2026		575		595
Series A, Rev., 5.00%, 01/15/2027		1,000		1,043
Series A, Rev., 5.00%, 01/15/2032		1,470		1,610
Siena Lake Metropolitan District, GO, 3.75%, 12/01/2041		500		392
South Suburban Park & Recreation District, COP, 4.00%, 12/15/2036		1,350		1,392
Spring Valley Metropolitan District No. 3, Series A, GO, 5.00%, 12/01/2049		1,360		1,268
State of Colorado,
COP, 6.00%, 12/15/2041		15,000		18,394
Series A, COP, 4.00%, 12/15/2039		1,500		1,552
Series A, COP, 5.00%, 12/15/2029		1,000		1,140
Series L, COP, 5.00%, 03/15/2028		1,000		1,097
Sterling Ranch Metropolitan District No. 1, GO, 5.00%, 12/01/2040		500		478
University of Colorado, Series B1, Rev., 4.00%, 06/01/2034 (p)		4,000		4,137
University of Colorado, University Enterprise,
Rev., 2.00%, 06/01/2051 (z)		4,000		3,880
Verve Metropolitan District No. 1, GO, 5.00%, 12/01/2036		1,500		1,293
Village Metropolitan District (The), GO, 4.15%, 12/01/2030		425		410
Villages at Johnstown Metropolitan District No. 3, Senior Bond, Series A, GO, 5.00%, 12/01/2040		585		551
Weld County School District No. RE-4,
GO, 5.00%, 12/01/2029		1,100		1,260
GO, 5.00%, 12/01/2031		1,000		1,188
GO, 5.25%, 12/01/2047		5,000		5,678
Windler Public Improvement Authority, Series A1, Rev., 4.00%, 12/01/2036		2,565		1,986
Windy Gap Firming Project Water Activity Enterprise, Windy Gap Firming Project, Rev., 5.00%, 07/15/2051		5,000		5,408


				242,314

Connecticut — 1.3%
City of Bridgeport, Series A, GO, 4.00%, 06/01/2039		250		255


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Connecticut — continued
Connecticut Housing Finance Authority, Social Bonds,
Series A1, Rev., 3.50%, 11/15/2051		65		64
Series B, Rev., 4.50%, 11/15/2043		2,725		2,789
Connecticut Housing Finance Authority, Sustainable Bond, Housing Mortgage Finance,
Rev., 5.13%, 11/15/2043		5,000		5,455
Rev., 6.25%, 05/15/2054		5,000		5,531
Connecticut State Health & Educational Facilities Authority,
Series 2017 B1, Rev., 5.00%, 07/01/2029		4,845		5,549
Series A, Rev., 2.80%, 07/01/2048 (z)		2,000		2,001
Connecticut State Health & Educational Facilities Authority, Connecticut Children’s Medical Center, Rev., 5.25%, 07/15/2048		4,575		5,002
Connecticut State Health & Educational Facilities Authority, Hartford Healthcare Project,
Series A, Rev., 5.00%, 07/01/2026		555		580
Series A, Rev., 5.00%, 07/01/2033		565		627
Connecticut State Health & Educational Facilities Authority, Quinnipiac University Issue, Rev., 5.00%, 07/01/2048		3,000		3,206
Connecticut State Health & Educational Facilities Authority, Stamford Hospital Issue,
Rev., 4.00%, 07/01/2035		1,000		1,017
Rev., 4.00%, 07/01/2038		2,500		2,514
Rev., 4.00%, 07/01/2041		2,250		2,204
Rev., 5.00%, 07/01/2024		175		176
Rev., 5.00%, 07/01/2030		865		951
Connecticut State Health & Educational Facilities Authority, Yale New Haven, Series B, Rev., 1.80%, 07/01/2049 (z)		4,000		3,956
Connecticut State Higher Education Supplement Loan Authority, CHESLA Loan Program, Series B, Rev., AMT, 5.00%, 11/15/2030		500		547
Connecticut State, Health & Educational Facilities Authority, Sacred Heart University,
Series K, Rev., 4.00%, 07/01/2045		2,625		2,630
Series K, Rev., 5.00%, 07/01/2037		950		1,035
Connecticut State, Health & Educational Facilities Authority, Yale University, Series C1, Rev., 5.00%, 07/01/2040 (z)		3,220		3,558
State of Connecticut,
Series 2021A, GO, 3.00%, 01/15/2026		5,000		5,020
Series 2021A, GO, 3.00%, 01/15/2032		2,250		2,253
Series 2021A, GO, 3.00%, 01/15/2033		500		498
Series 2021A, GO, 4.00%, 01/15/2028		3,500		3,699
Series A, GO, 4.00%, 03/15/2032		850		855


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Connecticut — continued
Series B, GO, 5.00%, 08/01/2033		1,750		2,134
Series C, GO, 5.00%, 06/15/2037		40		47
State of Connecticut Special Tax Revenue,
Series A, Rev., 5.00%, 07/01/2028		500		556
Series A, Rev., 5.00%, 05/01/2035		500		584
Series A, Rev., 5.25%, 07/01/2042		10,000		11,588
Series D, Rev., 4.00%, 11/01/2038		3,500		3,662
Series D, Rev., 5.00%, 11/01/2028		1,480		1,657
Series D, Rev., 5.00%, 11/01/2033		1,675		1,980
State of Connecticut, Social Bonds,
Series B, GO, 4.00%, 01/15/2038		500		524
Series F, GO, 5.00%, 11/15/2041		1,525		1,734
State of Connecticut, Special Tax Obligation Bonds, Rev., 5.00%, 05/01/2040		300		332
State of Connecticut, Special Tax Revenue, Transportation Infrastructure, Series A, Rev., 5.00%, 09/01/2031		1,220		1,233
State of Connecticut, Sustainable Bond,
Series B, GO, 4.00%, 01/15/2041 (w)		1,000		1,030
Series B, GO, 5.00%, 01/15/2040 (w)		1,000		1,158
Steel Point Infrastructure Improvement District, Steelpointe Harbor Project, Tax Allocation, 4.00%, 04/01/2036 (e)		195		176
Town of Hamden,
GO, BAM, 4.00%, 08/15/2027		535		551
GO, BAM, 5.00%, 08/15/2029		575		642
GO, BAM, 5.00%, 08/15/2031		500		577
Series A, GO, BAM, 5.00%, 08/01/2032		2,255		2,560
University of Connecticut,
Series A, Rev., 5.00%, 02/15/2025		1,200		1,228
Series A, Rev., 5.00%, 08/15/2026		1,400		1,403
Series A, Rev., 5.00%, 01/15/2037		3,000		3,156
Series A, Rev., 5.00%, 08/15/2039		650		757
Series A, Rev., 5.00%, 08/15/2040		860		995


				102,236

Delaware — 0.3%
Delaware State Economic Development Authority, NRG Energy Project, Rev., 1.25%, 10/01/2045 (z)		4,065		3,806
Delaware State Health Facilities Authority, Christiana Health Care System, Rev., 5.00%, 10/01/2039		5,345		5,774
Delaware Transportation Authority,
Rev., 5.00%, 07/01/2027		1,000		1,088
Rev., 5.00%, 07/01/2033		2,265		2,630
Delaware Transportation Authority, Garvee, Rev., 5.00%, 09/01/2025		1,000		1,037
State of Delaware,
GO, 2.00%, 02/01/2036		5,910		4,962
GO, 4.00%, 02/01/2031		1,000		1,067
GO, 5.00%, 02/01/2028		6,520		7,208
GO, 5.00%, 02/01/2031		85		100


				27,672


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

District of Columbia — 1.5%
District of Columbia,
Rev., 5.00%, 06/01/2040		1,725		1,704
Series A, Rev., 4.00%, 03/01/2037		2,000		2,093
Series A, Rev., 4.00%, 03/01/2040		10,000		10,295
Series A, GO, 5.00%, 01/01/2027		475		511
Series A, Rev., 5.00%, 03/01/2031		1,500		1,712
Series A, GO, 5.00%, 01/01/2038		1,000		1,173
Series A, GO, 5.00%, 01/01/2040		2,400		2,776
Series B, GO, 5.00%, 06/01/2025		1,000		1,032
Series C, Rev., 4.00%, 05/01/2039		2,500		2,593
Series C, Rev., 4.00%, 05/01/2045		5,000		5,056
Series D, GO, 5.00%, 02/01/2028		820		905
Series D, GO, 5.00%, 02/01/2029		70		79
Series D, GO, 5.00%, 02/01/2034		5,000		5,864
Series E, GO, 5.00%, 06/01/2025		2,000		2,065
Series E, GO, 5.00%, 02/01/2028		110		122
District of Columbia Housing Finance Agency, Kenilworth 166 Apartments, Rev., HUD, 1.25%, 06/01/2025 (z)		3,225		3,149
District of Columbia Income Tax Revenue,
Series A, Rev., 5.00%, 10/01/2035 (w)		1,570		1,918
Series A, Rev., 5.00%, 10/01/2037 (w)		1,230		1,473
Series A, Rev., 5.00%, 05/01/2038		1,450		1,707
Series A, Rev., 5.00%, 05/01/2039		2,000		2,340
District of Columbia Water & Sewer Authority, Green Bond Subordinate, Series A, Rev., 5.00%, 10/01/2038		1,010		1,122
District of Columbia Water & Sewer Authority, Subordinate, Series C1, Rev., 5.00%, 10/01/2031		2,000		2,375
District of Columbia, Latin American Montessori, Rev., 4.00%, 06/01/2030		745		715
District of Columbia, National Public Radio,
Rev., 4.00%, 04/01/2032 (p)		1,500		1,547
Rev., 5.00%, 04/01/2028 (p)		270		284
Rev., 5.00%, 04/01/2029 (p)		275		290
Metropolitan Washington Airports Authority,
Rev., AMT, 5.00%, 10/01/2026		1,335		1,400
Rev., AMT, 5.00%, 10/01/2029		2,000		2,132
Series A, Rev., AMT, 5.00%, 10/01/2027		1,515		1,619
Metropolitan Washington Airports Authority Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2027		1,000		1,069
Series A, Rev., AMT, 5.00%, 10/01/2025		450		463
Series A, Rev., AMT, 5.00%, 10/01/2028		4,880		5,304
Series A, Rev., AMT, 5.00%, 10/01/2030		1,000		1,120
Series A, Rev., AMT, 5.00%, 10/01/2032		5,000		5,608
Series A, Rev., NATL, AMT, 5.00%, 10/01/2034		8,000		8,016
Series A, Rev., AMT, 5.00%, 10/01/2044		3,890		3,899
Series A, Rev., AMT, 5.25%, 10/01/2039		1,135		1,269
Metropolitan Washington Airports Authority Aviation Revenue, Airport System, Series A, Rev., AMT, 5.00%, 10/01/2033		3,000		3,289


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
District of Columbia — continued
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Dulles Metrorail & Capital, Rev., AGM, 4.00%, 10/01/2052		8,000		7,746
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Subordinated Dulles Metrorail, Rev., AGM, 4.00%, 10/01/2053		1,965		1,889
Metropolitan Washington Airports Authority, Dulles Toll Road Revenue, Second Lien, Series C, Rev., AGC, 6.50%, 10/01/2041 (p)		350		386
Washington Convention & Sports Authority,
Series A, Rev., 4.00%, 10/01/2034		1,015		1,073
Series A, Rev., 5.00%, 10/01/2033		1,000		1,141
Washington Convention & Sports Authority, Senior Lien,
Series B, Tax Allocation, 5.00%, 10/01/2029		1,000		1,133
Series B, Tax Allocation, 5.00%, 10/01/2030		1,500		1,727
Washington Metropolitan Area Transit Authority,
Series A, Rev., 5.00%, 07/15/2026		1,650		1,749
Series A, Rev., 5.00%, 07/15/2037		2,000		2,265
Series B, Rev., 5.00%, 07/01/2032		1,115		1,199
Washington Metropolitan Area Transit Authority Dedicated Revenue, Series A, Rev., 5.00%, 07/15/2025		1,990		2,058
Washington Metropolitan Area Transit Authority Dedicated Revenue, Sustainability Financed Bond, Rev., 5.00%, 07/15/2029		3,000		3,415
Washington Metropolitan Area Transit Authority, Green Bond, Series A, Rev., 5.00%, 07/15/2029		1,540		1,753


				117,622

Florida — 4.6%
Alachua County Health Facilities Authority, Oak Hammock at The University of Florida, Inc. Project, Rev., 4.00%, 10/01/2031		615		587
Alachua County Health Facilities Authority, Shands Teaching Hospital & Clinics, Rev., 5.00%, 12/01/2034		2,570		2,772
Ave Maria Stewardship Community District, Phase 3 Master Improvements Project,
Special Assessment, 2.75%, 05/01/2031		420		375
Special Assessment, 3.13%, 05/01/2041		1,775		1,368
Belmond Reserve Community Development District, 202 Project, Special Assessment, 4.00%, 05/01/2040		345		320
Belmont II Community Development District, 2020 Assessment Area,
Special Assessment, 2.50%, 12/15/2025		10		10


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Florida — continued
Special Assessment, 3.13%, 12/15/2030		125		116
Boggy Branch Community Development District, Special Assessment, 2.50%, 05/01/2026		195		186
Brevard County Health Facilities Authority, Health First Obligated Group, Rev., 5.00%, 04/01/2052		3,235		3,434
Brevard County Health Facilities Authority, Health First, Inc.,
Rev., 4.00%, 04/01/2036		1,790		1,791
Rev., 5.00%, 04/01/2025		1,600		1,605
Brevard County Housing Finance Authority, Wickham Club Apartments, Series A, Rev., AMT, VRDO, LIQ: FNMA, 3.78%, 01/05/2024 (z)		4,695		4,695
Broward County Housing Finance Authority, Pinnacle 441 Phase 2, Rev., 4.05%, 09/01/2056 (z)		990		1,003
Broward County Housing Finance Authority, Solaris Apartments, Series B, Rev., 0.70%, 01/01/2025 (z)		1,470		1,441
Broward County Water & Sewer Utility Revenue, Series A, Rev., 4.00%, 10/01/2038		675		715
Capital Projects Finance Authority, Florida University Project, Series A1, Rev., 5.00%, 10/01/2032		1,350		1,419
Capital Projects Finance Authority, IPS Enterprises, Inc. Projects, Rev., 7.00%, 06/15/2030 (e)		4,000		4,167
Capital Trust Agency, Inc., Council Towers Apartments Project, Series A, Rev., 5.00%, 02/01/2024		650		652
Capital Trust Agency, Inc., Imagine School at North Manatee, Rev., 5.00%, 06/01/2041 (e)		325		296
Capital Trust Agency, Inc., Lutz Preparatory School, Inc. Project, Series A, Rev., 4.00%, 06/01/2041		300		288
Capital Trust Agency, Inc., Tallahassee Classical School, Rev., 4.00%, 07/01/2036 (e)		1,370		1,114
Capital Trust Authority, Ips Enterprises, Inc., Series A, Rev., 6.00%, 06/15/2043 (e)		4,350		4,403
Central Florida Expressway Authority,
Series D, Rev., 5.00%, 07/01/2029		565		635
Series D, Rev., AGM, 5.00%, 07/01/2034		3,000		3,498
Series D, Rev., AGM, 5.00%, 07/01/2035		10,000		11,617
Central Florida Expressway Authority, Senior Lien,
Rev., AGM, 4.00%, 07/01/2038		3,625		3,783
Rev., AGM, 4.00%, 07/01/2039		1,260		1,304
Centre Lake Community Development District, Special Assessment, 3.00%, 05/01/2042		605		458


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Florida — continued
Chapel Creek Community Development District, Special Assessment, 3.00%, 05/01/2031 (e)		220		197
City of Jacksonville, Series A, Rev., 5.00%, 10/01/2034		1,250		1,434
City of Jacksonville, Brooks Rehabilitation Project,
Rev., 4.00%, 11/01/2034		500		508
Rev., 4.00%, 11/01/2045		1,500		1,382
City of Miami Beach, Arts and Cultural Facilities, Series A, GO, 5.25%, 05/01/2053		5,000		5,565
City of Pompano Beach, John Knox Village Project, Series A, Rev., 4.00%, 09/01/2036		175		160
City of Port St. Lucie Stormwater Utility Revenue, Rev., 4.00%, 05/01/2039		1,075		1,098
City of Tallahassee, Energy System Revenue, Rev., 5.00%, 10/01/2028		2,000		2,217
City of Tampa, Baycare, Series A, Rev., 5.00%, 11/15/2046		10,000		10,208
Collier County Health Facilities Authority, The Moorings, Inc., Rev., 4.00%, 05/01/2052		145		134
County of Broward Port Facilities Revenue, Rev., AMT, 5.50%, 09/01/2052		3,675		3,986
County of Broward Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 5.00%, 09/01/2031		3,000		3,507
County of Broward, Airport System Revenue,
Rev., AMT, 5.00%, 10/01/2033		655		692
Series A, Rev., AMT, 5.00%, 10/01/2028		800		865
Series A, Rev., AMT, 5.00%, 10/01/2036		2,000		2,153
County of Broward, Port Facilities Revenue, Senior Bond, Series B, Rev., AMT, 4.00%, 09/01/2044		3,000		3,005
County of Broward, Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 4.00%, 09/01/2047		3,000		2,951
County of Hillsborough, Rev., 4.00%, 08/01/2034		4,370		4,679
County of Lee Airport Revenue,
Series B, Rev., AMT, 5.00%, 10/01/2029		180		197
Series B, Rev., AMT, 5.00%, 10/01/2032		2,000		2,232
County of Lee Local Option Gas Tax Revenue, Rev., 5.25%, 08/01/2049		13,000		14,039
County of Miami-Dade Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2028		7,000		7,033
Rev., 5.00%, 10/01/2041		6,000		6,156
Series A, Rev., 5.00%, 10/01/2025		1,250		1,294
Series A, Rev., AMT, 5.00%, 10/01/2027		1,325		1,332
Series A, Rev., AMT, 5.00%, 10/01/2030		2,000		2,025
Series A, Rev., 5.00%, 10/01/2031		2,000		2,292
Series A, Rev., AMT, 5.00%, 10/01/2044		2,200		2,294
Series A, Rev., AMT, 5.00%, 10/01/2049		3,250		3,353
Series B, Rev., AMT, 5.00%, 10/01/2040		7,000		7,217


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Florida — continued
County of Miami-Dade Seaport Department, Senior Bonds,
Series A, Rev., AMT, 5.00%, 10/01/2030		1,970		2,184
Series A, Rev., AMT, 5.00%, 10/01/2031		2,975		3,349
Series A, Rev., AMT, 5.00%, 10/01/2033		3,500		3,946
Series A, Rev., AMT, 5.25%, 10/01/2052		2,000		2,175
County of Miami-Dade Seaport Department, Subordinate, Series A1, Rev., AGM, AMT, 4.00%, 10/01/2040		2,675		2,697
County of Miami-Dade Transit System, Rev., 4.00%, 07/01/2048		5,000		5,005
County of Miami-Dade, Building Better Communities Project, Series A, GO, 4.00%, 07/01/2044		350		355
County of Miami-Dade, Public Health Trust Program, GO, 4.00%, 07/01/2042		3,000		3,026
County of Miami-Dade, Water & Sewer System Revenue,
Series B, Rev., 5.00%, 10/01/2031		500		515
Series B, Rev., 5.00%, 10/01/2033		1,000		1,030
County of Monroe Airport Revenue, Key West International Airport, Series 202, Rev., AMT, 5.00%, 10/01/2052		2,450		2,519
County of Orange Water Utility System Revenue, Rev., 5.00%, 10/01/2028		2,040		2,290
Cypress Mill Community Development District, 2023 Project, Special Assessment, 5.00%, 05/01/2053		1,025		1,026
Daytona Beach Housing Authority, The WM at River Project, Rev., 1.25%, 12/01/2025 (z)		115		112
DG Farms Community Development District, Special Assessment, 3.75%, 05/01/2040		400		344
Duval County Public Schools, Series A, COP, AGM, 5.00%, 07/01/2032		4,750		5,392
Eden Hills Community Development District, Special Assessment, 4.00%, 05/01/2040		300		279
Epperson North Community Development District, Assessment Area, Special Assessment, 2.50%, 05/01/2026		130		124
Florida Development Finance Corp., Series A, Rev., 4.00%, 06/01/2030		500		467
Florida Development Finance Corp., Brightline Florida Passenger, Rev., AMT, 8.00%, 07/01/2057 (e)		8,500		8,677
Florida Development Finance Corp., Brightline Florida Passenger Rail, Series B, Rev., AMT, 7.38%, 01/01/2049 (e)		9,500		9,556
Florida Development Finance Corp., Brightline Passenger Rail, Rev., AMT, 7.50%, 07/01/2057 (e)		6,500		6,472
Florida Development Finance Corp., Discovery High School Project, Series A, Rev., 4.00%, 06/01/2030 (e)		1,400		1,306


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Florida — continued
Florida Development Finance Corp., Lakeland Regional Health System, Rev., 4.00%, 11/15/2037		2,400		2,469
Florida Development Finance Corp., Mater Academy Project, Series A, Rev., 5.00%, 06/15/2040		400		408
Florida Development Finance Corp., UF Health Jacksonville Project, Rev., 5.00%, 02/01/2035		1,200		1,226
Florida Development Finance Corp., Virgin Trains USA Passenger,
Series A, Rev., AMT, 6.38%, 01/01/2049 (e) (z)		3,225		3,127
Series A, Rev., AMT, 6.50%, 01/01/2049 (e) (z)		2,475		2,423
Florida Housing Finance Corp.,
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		555		538
Series 3, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 01/01/2054		650		715
Florida Housing Finance Corp., Social Bond, Social Bond, Series 1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,300		1,267
Florida Housing Finance Corp., Social Bonds,
Series 1, Rev., GNMA/FNMA/FHLMC, 3.50%, 07/01/2052		985		970
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		5,910		5,766
Florida State Board of Governors Florida International University Dormitory Rev, Series A, Rev., BAM, 5.00%, 07/01/2029		1,900		2,137
Florida State Board of Governors University of North Florida Dormitory Revenue, Series A, Rev., BAM, 5.00%, 11/01/2053		6,375		6,872
Fort Pierce Utilities Authority, Series A, Rev., AGM, 5.00%, 10/01/2039		925		1,039
Greater Orlando Aviation Authority,
Series A, Rev., AMT, 5.00%, 10/01/2026 (p)		1,785		1,837
Series A, Rev., AMT, 5.00%, 10/01/2027 (p)		1,875		1,930
Series A, Rev., AMT, 5.00%, 10/01/2030 (p)		1,005		1,035
Series A, Rev., AMT, 5.00%, 10/01/2032		1,500		1,646
Greater Orlando Aviation Authority, Priority Subordinated,
Series A, Rev., AMT, 5.00%, 10/01/2033		1,500		1,583
Series A, Rev., AMT, 5.00%, 10/01/2036		2,230		2,332
Hammock Reserve Community Development District, Assessment Area One Project, Special Assessment, 4.00%, 05/01/2040		545		493
Hillsborough County Aviation Authority, Tampa, Rev., AMT, 5.00%, 10/01/2040 (p)		750		758


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Florida — continued
Hillsborough County Industrial Development Authority, Tampa General Hospital Project,
Rev., 4.00%, 08/01/2050		5,000		4,669
Series A, Rev., 4.00%, 08/01/2045		3,275		3,125
JEA Electric System Revenue,
Series 3A, Rev., 5.00%, 10/01/2035		5,000		5,597
Series IIIB, Rev., 5.00%, 10/01/2032		1,295		1,389
JEA Electric System Revenue, Subordinate, Series A, Rev., 5.00%, 10/01/2031		1,795		2,107
JEA Water & Sewer System Revenue, Series A, Rev., 4.00%, 10/01/2037		750		789
JEA Water & Sewer System Revenue, Subordinated, Series A, Rev., 5.00%, 10/01/2031		885		959
Julington Creek Plantation Community Development District, Special Assessment, Special Assessment, AGM, 5.50%, 05/01/2043		1,500		1,681
Lakewood Ranch Stewardship District, Del Webb Project, Special Assessment, 5.00%, 05/01/2037 (e)		1,655		1,665
Lakewood Ranch Stewardship District, Lorraine Lakes Project, Special Assessment, 3.13%, 05/01/2030 (e)		315		289
Lakewood Ranch Stewardship District, Northeast Sector Project,
Special Assessment, 2.50%, 05/01/2025 (e)		605		590
Special Assessment, 3.20%, 05/01/2030 (e)		545		501
Special Assessment, 3.50%, 05/01/2040		925		752
Lakewood Ranch Stewardship District, Zario Project, Special Assessment, 2.63%, 05/01/2025		285		278
Lee County Industrial Development Authority, Shell Point/Waterside Health,
Rev., 5.00%, 11/15/2044		3,000		2,935
Rev., 5.00%, 11/15/2049		2,550		2,446
Lee Memorial Health System, Series A1, Rev., 4.00%, 04/01/2037		3,000		3,034
Miami Beach Health Facilities Authority, Mount Sinai Medical Center,
Rev., 5.00%, 11/15/2039		2,000		2,015
Rev., 5.00%, 11/15/2044		5,000		5,037
Miami Beach Redevelopment Agency, Tax Increment Revenue, Tax Allocation, 5.00%, 02/01/2028		1,000		1,004
Miami-Dade County Housing Finance Authority, Cutler Vista, Rev., 5.00%, 03/01/2027 (z)		2,445		2,505
Midtown Miami Community Development District, Series A, Special Assessment, 5.00%, 05/01/2037		350		348
North Loop Community Development District, Special Assessment, 6.38%, 05/01/2043		1,000		1,054


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Florida — continued
North Powerline Road Community Development District, Special Assessment, 3.63%, 05/01/2040		1,345		1,112
Old Hickory Community Development District, Special Assessment, 2.50%, 06/15/2025		110		107
Orange County Health Facilities Authority, Orlando Health Obligated Group, Rev., 4.00%, 10/01/2052		5,000		4,905
Orange County Health Facilities Authority, Presbyterian Retirement Communities, Rev., 4.00%, 08/01/2036		295		290
Orange County Housing Finance Authority, Stratford Point Apartments, Rev., 0.55%, 01/01/2025 (z)		885		866
Orlando Utilities Commission,
Series 2018A, Rev., 5.00%, 10/01/2035		2,480		2,680
Series A, Rev., 5.00%, 10/01/2027		500		546
Series A, Rev., 5.00%, 10/01/2028		1,125		1,262
Palm Beach County Health Facilities Authority, BRRH Corporation Obligated Group, Rev., 5.00%, 12/01/2024 (p)		1,910		1,942
Palm Beach County Health Facilities Authority, Retirement Life Communities, Rev., 5.00%, 11/15/2032		2,270		2,344
Palm Beach County Housing Finance Authority, Christian Manor, Rev., 1.25%, 02/15/2025 (z)		1,985		1,979
Parkview at Long Lake Ranch Community Development District, Special Assessment, 4.00%, 05/01/2051		800		632
Pasco County School Board, Series A, COP, BAM, 5.00%, 08/01/2036		1,720		1,884
Pine Island Community Development District, Special Assessment, 5.75%, 05/01/2035		1,900		1,906
Pinellas County Housing Finance Authority, Jordan Park Apartments, Rev., HUD, 0.65%, 01/01/2025 (z)		1,135		1,112
Reunion East Community Development District,
Special Assessment, 2.40%, 05/01/2026		75		72
Special Assessment, 2.85%, 05/01/2031		25		22
Saddle Creek Preserve of Polk County Community Development District, Special Assessment, 4.00%, 06/15/2040		500		462
Sarasota County Health Facilities Authority, Sunnyside Village Project, Rev., 5.00%, 05/15/2048		425		384
Sarasota County Public Hospital District, Sarasota Memorial Hospital Project,
Rev., 4.00%, 07/01/2052		6,000		5,801
Rev., 5.00%, 07/01/2052		1,175		1,246
Sarasota County School Board, Series A, COP, 5.00%, 07/01/2033		1,000		1,201


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Florida — continued
Sarasota National Community Development District, Special Assessment, 4.00%, 05/01/2039		615		576
Sawyers Landing Community Development District, Special Assessment, 3.75%, 05/01/2031		400		359
School District of Broward County, Series A, COP, 5.00%, 07/01/2027		1,500		1,631
Somerset Community Development District, Special Assessment, 4.00%, 05/01/2032		845		801
South Broward Hospital District, Series A, Rev., 4.00%, 05/01/2044		2,000		1,960
South Kendall Community Development District, Special Assessment, 4.25%, 11/01/2037		1,575		1,550
St. John’s County School Board, Series A, COP, AGM, 5.25%, 07/01/2047		3,000		3,350
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.71%, 07/01/2027		4,000		3,622
State of Florida, Series B, GO, 5.00%, 06/01/2028		2,000		2,227
State of Florida Department of Transportation Turnpike System Revenue, Series B, Rev., 5.00%, 07/01/2033		1,000		1,178
State of Florida Department of Transportation Turnpike System Revenue, Department Of Transportation, Rev., 4.00%, 07/01/2041		1,000		1,028
State of Florida Department of Transportation Turnpike System Revenue, Turnpike Revenue, Series B, Rev., 3.00%, 07/01/2033		2,390		2,355
State of Florida Department of Transportation Turnpike System, Revenue Refunding, Series A, Rev., 5.00%, 07/01/2026		1,000		1,059
State of Florida, Capital Outlay, Series C, GO, 5.00%, 06/01/2027		1,060		1,118
State of Florida, Department of Transportation, Turnpike System Revenue, Series A, Rev., 5.00%, 07/01/2029		500		568
Stillwater Community Development District, Project 2021, Special Assessment, 3.00%, 06/15/2031 (e)		225		201
Stonegate Preserve Community Development District, 2023 Project Area, Special Assessment, 5.88%, 12/15/2043		1,000		1,029
Stoneybrook South Community Development District, Fox South Assessment Area,
Special Assessment, 2.50%, 12/15/2025 (e)		280		271
Special Assessment, 3.00%, 12/15/2030 (e)		475		445


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Florida — continued
Special Assessment, 3.50%, 12/15/2040 (e)		1,030		882
Storey Park Community Development District, Assessment Area Four Project,
Special Assessment, 2.38%, 06/15/2026 (e)		30		29
Special Assessment, 2.88%, 06/15/2031 (e)		60		55
Touchstone Community Development District, Senior Lien, Series A1, Special Assessment, 5.38%, 05/01/2042		1,000		1,061
Towne Park Community Development District, Assessment Area 3D Project, Special Assessment, 2.63%, 05/01/2025 (e)		255		249
Tradition Community Development District No. 9, Special Assessment, 3.00%, 05/01/2041		130		97
Turtle Run Community Development District, Special Assessment, Series 2, Special Assessment, 5.00%, 05/01/2047		1,500		1,456
Village Community Development District No. 13,
Special Assessment, 1.88%, 05/01/2025 (e)		485		471
Special Assessment, 2.63%, 05/01/2030 (e)		1,455		1,321
Villamar Community Development District, Special Assessment, 3.75%, 05/01/2040		655		585
Volusia County Educational Facility Authority, Educational Facilities Embry Riddle, Rev., 5.00%, 10/15/2029		1,000		1,072
West Hillcrest Community Development District, Series 2023, Special Assessment, 5.50%, 06/15/2053		1,250		1,262
West Villages Improvement District, Special Assessment, Unit Of Development #8, Special Assessment, 5.38%, 05/01/2042		1,875		1,892
Wildwood Utility Dependent District, Senior South Sumter Utilities Project,
Rev., BAM, 5.00%, 10/01/2031		1,300		1,515
Rev., BAM, 5.00%, 10/01/2033		1,150		1,340
Rev., BAM, 5.00%, 10/01/2039		1,490		1,656
Rev., BAM, 5.00%, 10/01/2040		1,610		1,782
Wildwood Utility Dependent District, Senior South Sumter Utility Project, Rev., BAM, 5.00%, 10/01/2052		1,640		1,748
Wildwood Utility Dependent District, Subordinate South Sumter Utilities Project, Rev., BAM, 5.00%, 10/01/2041		650		717


				373,716


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Georgia — 3.3%
Bartow County Development Authority, Georgia Power Co. Pollution Bowen Project, Rev., 1.80%, 09/01/2029 (z)		4,425		3,821
Board of Water Light & Sinking Fund Commissioners of The City of Dalton, Combined Utilities Revenue Bonds,
Rev., 4.00%, 03/01/2035		1,100		1,146
Rev., 4.00%, 03/01/2036		1,000		1,036
Rev., 4.00%, 03/01/2037		1,135		1,168
Rev., 4.00%, 03/01/2038		1,000		1,018
Brookhaven Development Authority, Children’s Healthcare of Atlanta,
Rev., 5.00%, 07/01/2036		2,425		2,694
Rev., 5.00%, 07/01/2037		2,400		2,652
Series A, Rev., 4.00%, 07/01/2044		3,000		3,018
Brookhaven Urban Redevelopment Agency, Series A, Rev., 4.00%, 07/01/2045		3,260		3,351
Carroll County, School District, GO, 5.00%, 04/01/2024		1,000		1,005
City of Atlanta Airport Passenger Facility Charge, Airport Revenue Subordinated, Rev., AMT, 4.00%, 07/01/2038		2,825		2,843
City of Atlanta Department of Aviation,
Series B, Rev., AMT, 5.00%, 07/01/2028		3,300		3,571
Series C, Rev., AMT, 5.00%, 07/01/2026		960		1,001
Series C, Rev., AMT, 5.00%, 07/01/2034		540		607
Series G, Rev., AMT, 5.00%, 07/01/2025		750		768
Series G, Rev., AMT, 5.00%, 07/01/2027		230		245
Series G, Rev., AMT, 5.00%, 07/01/2028		2,500		2,705
City of Atlanta Water & Wastewater Revenue, Series B, Rev., 4.00%, 11/01/2037		1,000		1,023
City of Atlanta, Airport Passenger Facility, Subordinated Lien, Series C, Rev., 5.00%, 07/01/2040		2,000		2,188
City of Atlanta, Department of Aviation, Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2031		1,155		1,264
Cobb County Kennestone Hospital Authority, Revenue Anticipation Certificates, Rev., 5.00%, 04/01/2036		500		525
Cobb County Kennestone Hospital Authority, Wellstar Health System, Inc., Rev., 3.00%, 04/01/2037		700		619
Columbia County Hospital Authority, Anticipation Certificate Wellstar, Rev., 5.13%, 04/01/2053		3,625		3,891
DeKalb County Housing Authority, Kensington Station Project, Series A, Rev., 4.00%, 12/01/2033		10,000		9,968
Development Authority for Fulton County, Jonesboro Road Senior Village, Rev., 3.00%, 10/01/2025 (z)		2,020		2,012


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Georgia — continued
Development Authority of Burke County (The), Oglethorpe Power Corp. Scherer Project, Series A, Rev., 1.50%, 01/01/2040 (z)		250		240
Development Authority of Cobb County, The Northwest Classical Academy Project, Rev., 5.70%, 06/15/2038 (e)		605		607
Development Authority of Monroe County (The), Oglethorpe Power Corporation Scherer Project, Series A, Rev., 1.50%, 01/01/2039 (z)		125		120
Development Authority of Monroe County, Georgia Power Company Plant Scherer, Rev., 3.88%, 06/01/2042 (z)		1,250		1,260
Development Authority of Monroe County (The), Georgia Power Co. Plant Scherer, Rev., 1.00%, 07/01/2049 (z)		1,785		1,620
Development Authority of Rockdale County, Arbours at Conyers Project, Rev., 3.63%, 02/01/2026 (z)		1,085		1,082
George L Smith II Congress Center Authority, Convention Center Hotel, Series 2, Rev., 5.00%, 01/01/2054 (e)		1,000		871
George L Smith II Congress Center Authority, Convention Center Hotel First,
Rev., 4.00%, 01/01/2036		2,750		2,766
Rev., 4.00%, 01/01/2054		1,600		1,404
Georgia Housing & Finance Authority, Series A, Rev., 2.75%, 12/01/2035		500		458
Georgia Ports Authority, Rev., 5.25%, 07/01/2043		2,705		3,115
Georgia State Road & Tollway Authority,
Rev., 5.00%, 06/01/2027		5,250		5,697
Rev., 5.00%, 06/01/2028		5,500		6,100
Rev., 5.00%, 06/01/2030		6,205		7,155
Main Street Natural Gas, Inc.,
Series A, Rev., 4.00%, 07/01/2052 (z)		14,500		14,585
Series A, Rev., 5.00%, 05/15/2033		4,950		5,274
Series A, Rev., 5.00%, 06/01/2053 (z)		15,000		15,906
Series A, Rev., 5.50%, 09/15/2028		1,000		1,082
Series B, Rev., 5.00%, 06/01/2028		2,500		2,616
Series B, Rev., 5.00%, 06/01/2029		1,500		1,584
Series B, Rev., 5.00%, 12/01/2052 (z)		5,000		5,277
Series B, Rev., 5.00%, 07/01/2053 (z)		8,730		9,308
Series C, Rev., 4.00%, 03/01/2050 (z)		6,350		6,380
Series C, Rev., 4.00%, 05/01/2052 (z)		15,310		15,414
Series C, Rev., 5.00%, 09/01/2053 (z)		11,285		12,073
Series D, Rev., 5.00%, 05/01/2054 (z)		9,500		10,104
Series E1, Rev., 5.00%, 12/01/2053 (z)		3,000		3,229
Main Street Natural Gas, Inc., Gas Supply, Series C, Rev., 4.00%, 08/01/2052 (e) (z)		11,000		10,585
Metropolitan Atlanta Rapid Transit Authority, Series B, Rev., 5.00%, 07/01/2045		10,000		10,334


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Georgia — continued
Milledgeville & Baldwin County Development Authority, Georgia College & State University Projects,
Rev., 4.00%, 06/15/2037		500		519
Rev., 5.00%, 06/15/2024		470		474
Rev., 5.00%, 06/15/2025		360		370
Municipal Electric Authority of Georgia, Combined Cycle Project,
Series A, Rev., 5.00%, 11/01/2027		250		270
Series A, Rev., 5.00%, 11/01/2029		250		277
Municipal Electric Authority of Georgia, General Resolution Project, Series A, Rev., 4.00%, 01/01/2037		1,125		1,164
Municipal Electric Authority of Georgia, Plant Vogtle Unis 3&4 Project, Rev., 5.00%, 01/01/2059		3,000		3,050
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 and 4 Project,
Series A, Rev., AGM, 5.00%, 07/01/2033		1,610		1,863
Series A, Rev., AGM, 5.00%, 07/01/2035		1,300		1,490
Series A, Rev., AGM, 5.00%, 07/01/2036		2,795		3,182
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project,
Rev., AGM, 4.00%, 01/01/2036		330		346
Rev., AGM, 4.00%, 01/01/2041		1,000		1,014
Rev., AGM, 5.00%, 01/01/2025		200		204
Rev., AGM, 5.00%, 01/01/2027		125		133
Rev., AGM, 5.00%, 07/01/2027		500		538
Rev., 5.00%, 01/01/2039		1,310		1,366
Rev., BAM, 5.00%, 01/01/2049		2,000		2,057
Rev., AGM, 5.00%, 07/01/2053		3,675		3,898
Rev., AGM, 5.00%, 07/01/2055		4,615		4,824
Municipal Electric Authority of Georgia, Power Revenue,
Series HH, Rev., 5.00%, 01/01/2033		1,000		1,067
Series HH, Rev., 5.00%, 01/01/2034		1,000		1,067
Municipal Electric Authority of Georgia, Project One Subordinated,
Rev., 5.00%, 01/01/2029		1,110		1,214
Rev., 5.00%, 01/01/2037		1,250		1,391
Series A, Rev., 5.00%, 01/01/2035		2,245		2,275
Municipal Electric Authority of Georgia, Project One, Subordinated, Series B, Rev., 4.00%, 01/01/2039		1,400		1,422
Municipal Electric Authority of Georgia, Subordinate General Resolution, Rev., 5.00%, 01/01/2033		1,010		1,160
Municipal Electric Authority of Georgia, Subordinate Project One,
Series A, Rev., 5.00%, 01/01/2030		705		787
Series A, Rev., 5.00%, 01/01/2031		1,715		1,943
Paulding County Hospital Authority, Anticipation Certificates Wellstar Health,
Rev., 5.00%, 04/01/2036		325		368
Rev., 5.00%, 04/01/2038		500		554


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Georgia — continued
Private Colleges & Universities Authority, Emory University, Series B, Rev., 4.00%, 09/01/2039		1,420		1,480
Private Colleges & Universities Authority, Savannah College of Art and Design,
Rev., 4.00%, 04/01/2038		1,400		1,438
Rev., 5.00%, 04/01/2027		400		428
Savannah Economic Development Authority, International Paper Company Project, Rev., 1.90%, 08/01/2024		150		147
State of Georgia,
Series A1, GO, 5.00%, 02/01/2024		100		100
Series C, GO, 4.00%, 07/01/2027		1,000		1,055
Series E, GO, 5.00%, 12/01/2027		1,570		1,686
Series F, GO, 5.00%, 01/01/2025		2,000		2,046
State of Georgia, Bidding Group 1, Series A, GO, 5.00%, 07/01/2033		2,000		2,372
State of Georgia, Bidding Group 2, Series A, GO, 4.00%, 07/01/2035		750		821
State of Georgia, Group 2, Series A, GO, 4.00%, 08/01/2034		1,000		1,088
State of Georgia, Tranche 2, Series A, GO, 5.00%, 07/01/2030		2,000		2,283
Valdosta Housing Authority, Tishco Rural Rental Housing, Rev., 1.25%, 02/01/2025 (z)		375		374
Villa Rica Downtown Development Authority, Arbours at Villa Rica Project, Rev., 1.25%, 08/01/2025 (z)		4,415		4,347


				270,337

Guam — 0.0% (g)
Antonio B. Won Pat International Airport Authority, Rev., AMT, 5.25%, 10/01/2030		750		782
Territory of Guam, Series F, Rev., 4.00%, 01/01/2042		1,000		957


				1,739

Hawaii — 0.4%
City & County Honolulu Wastewater System Revenue, Green Bonds Senior Lien, Rev., 5.00%, 07/01/2040		540		618
City & County Honolulu Wastewater System Revenue, Senior First Bond Resolution, Series A, Rev., 5.00%, 07/01/2035		2,110		2,302
City & County of Honolulu,
Series A, GO, 5.00%, 10/01/2025		15		15
Series A, GO, 5.00%, 09/01/2027		30		33
Series C, GO, 5.00%, 10/01/2028		1,450		1,622
Series C, GO, 5.00%, 10/01/2029		1,000		1,143
City & County of Honolulu, Rail Transit Project,
GO, 3.00%, 07/01/2032		430		430
GO, 3.00%, 07/01/2035		1,000		985


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Hawaii — continued
State of Hawaii,
Series FG, GO, 4.00%, 10/01/2032		2,000		2,056
Series FG, GO, 4.00%, 10/01/2033		3,000		3,076
State of Hawaii Airports System Revenue,
Series A, Rev., AMT, 5.00%, 07/01/2032		1,500		1,607
Series A, Rev., AMT, 5.00%, 07/01/2033		1,630		1,745
Series A, Rev., AMT, 5.00%, 07/01/2034		2,000		2,207
Series A, Rev., AMT, 5.00%, 07/01/2035		1,000		1,065
Series B, Rev., 5.00%, 07/01/2026		1,250		1,323
State of Hawaii Department of Budget & Finance, Rev., 3.20%, 07/01/2039		3,000		2,007
State of Hawaii Harbor System Revenue,
Series A, Rev., AMT, 4.00%, 07/01/2031		250		262
Series A, Rev., AMT, 4.00%, 07/01/2032		500		521
Series A, Rev., AMT, 4.00%, 07/01/2033		750		782
Series A, Rev., AMT, 4.00%, 07/01/2034		3,555		3,699
Series A, Rev., AMT, 5.00%, 07/01/2027		250		266
Series A, Rev., AMT, 5.00%, 07/01/2028		500		540
Series A, Rev., AMT, 5.00%, 07/01/2029		250		274
Series C, Rev., 4.00%, 07/01/2032		200		213
State of Hawaii State Highway Fund, Rev., 5.00%, 01/01/2029		1,000		1,122
State of Hawaii, Airports System Revenue, Series D, Rev., 5.00%, 07/01/2030		1,000		1,151


				31,064

Idaho — 0.1%
Idaho Health Facilities Authority, Trinity Health Credit Group, Series A, Rev., 5.00%, 12/01/2047		1,715		1,758
Idaho Housing & Finance Association,
Series A, Rev., 5.00%, 08/15/2029		1,000		1,134
Series A, Rev., 5.00%, 08/15/2034		1,130		1,368
Idaho Housing & Finance Association, Garvee,
Series A, Rev., 4.00%, 07/15/2039		1,440		1,469
Series A, Rev., 5.00%, 07/15/2030		1,250		1,428
Idaho Housing & Finance Association, Transportation Expansion & Mitigation, Rev., 5.00%, 08/15/2037		165		192


				7,349

Illinois — 7.8%
Champaign County Community Unit School District No. 4 Champaign, GO, 5.00%, 01/01/2029		1,765		1,839
Chicago Board of Education,
Series A, GO, AGM, 5.00%, 12/01/2026		10		11
Series A, GO, 5.00%, 12/01/2033		2,000		2,052
Series A, GO, 5.00%, 12/01/2041		1,000		1,014
Series A, GO, 5.00%, 12/01/2042		10,000		9,872
Series A, GO, 5.25%, 12/01/2036		5,500		5,914
Series D, GO, 5.00%, 12/01/2046		7,500		7,323


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Illinois — continued
Chicago Board of Education Dedicated Capital Improvement Tax,
Rev., 5.25%, 04/01/2039		3,125		3,387
Rev., 5.75%, 04/01/2048		4,000		4,374
Chicago Board of Education, Capital Appreciation School Reform,
Series A, GO, NATL, Zero Coupon, 12/01/2024		500		482
Series A, GO, NATL, Zero Coupon, 12/01/2025		255		237
Series A, GO, NATL, Zero Coupon, 12/01/2029		1,220		970
Series B1, GO, NATL, Zero Coupon, 12/01/2028		500		414
Series B1, GO, NATL, Zero Coupon, 12/01/2029		1,105		879
Chicago Board of Education, Dedicated,
Series C, GO, 5.00%, 12/01/2034		2,000		2,038
Series G, GO, 5.00%, 12/01/2034		1,000		1,019
Series H, GO, 5.00%, 12/01/2036		2,000		2,023
Series H, GO, 5.00%, 12/01/2046		1,000		988
Chicago Midway International Airport, Series B, Rev., 5.00%, 01/01/2046		10,000		10,130
Chicago Midway International Airport, Second Lien, Series A, Rev., AMT, 5.00%, 01/01/2041		3,000		3,014
Chicago Midway International Airport, Senior,
Series C, Rev., AMT, 5.00%, 01/01/2028 (w)		2,825		2,998
Series C, Rev., AMT, 5.00%, 01/01/2034 (w)		6,000		6,833
Series C, Rev., AMT, 5.00%, 01/01/2040 (w)		2,610		2,855
Chicago Midway International Airport, Senior Lien, Series A, Rev., BAM, AMT, 5.00%, 01/01/2033		2,400		2,727
Chicago O’Hare International Airport,
Rev., AMT, 5.00%, 01/01/2030		3,400		3,431
Rev., AMT, 5.00%, 01/01/2032		2,000		2,017
Chicago O’Hare International Airport, Passenger Facility Charge, Rev., AMT, 5.00%, 01/01/2032		3,500		3,500
Chicago O’Hare International Airport, Senior Lien,
Series A, Rev., 4.00%, 01/01/2035		3,500		3,681
Series A, Rev., 5.00%, 01/01/2035		6,000		6,799
Chicago O’Hare International Airport, Senior Lien Customer Facility, Rev., BAM, 5.25%, 01/01/2042		1,465		1,629
Chicago Transit Authority Capital Grant Receipts Revenue, Section 5357, Rev., 5.00%, 06/01/2028		1,000		1,078
Chicago Transit Authority Sales Tax Receipts Fund,
Rev., 5.00%, 12/01/2044		5,000		5,017


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Illinois — continued
Rev., AGM, 5.00%, 12/01/2044		1,000		1,003
Rev., 5.25%, 12/01/2049		13,000		13,069
Series A, Rev., 5.00%, 12/01/2045		6,500		6,764
Series A, Rev., BAM, 5.00%, 12/01/2046		4,500		4,844
Chicago Transit Authority Sales Tax Receipts Fund, Second Lien,
Rev., 5.00%, 12/01/2051		4,750		4,811
Series A, Rev., 4.00%, 12/01/2049		4,000		3,884
Series A, Rev., 5.00%, 12/01/2052		5,000		5,106
Series A, Rev., 5.00%, 12/01/2055		2,000		2,076
City of Aurora Waterworks & Sewerage Revenue, Series B, Rev., 4.00%, 12/01/2034		1,565		1,566
City of Berwyn, Series A, GO, 5.00%, 12/01/2029		1,000		1,015
City of Chicago,
Series A, GO, 5.00%, 01/01/2027		5,500		5,758
Series A, GO, 5.00%, 01/01/2033		1,000		1,093
Series A, GO, 5.00%, 01/01/2034		4,500		4,913
Series A, GO, 5.50%, 01/01/2049		6,325		6,588
Series A, GO, 6.00%, 01/01/2038		8,775		9,212
Series B, GO, 4.00%, 01/01/2038 (e)		521		508
Series C, GO, Zero Coupon, 01/01/2027 (p)		500		457
Series C, GO, 5.00%, 01/01/2025		45		46
Series C, GO, 5.00%, 01/01/2028		1,450		1,482
City of Chicago Special Assessment Revenue, Lakeshore East Project,
Special Assessment, 2.69%, 12/01/2026 (e)		305		294
Special Assessment, 3.04%, 12/01/2028 (e)		270		255
City of Chicago Wastewater Transmission Revenue, Second Lien,
Series B, Rev., AGM, 5.00%, 01/01/2037		1,050		1,223
Series B, Rev., AGM, 5.00%, 01/01/2039		2,000		2,282
Series C, Rev., 5.00%, 01/01/2034		1,950		1,980
City of Chicago Waterworks Revenue, Second Lien,
Series 2017-2, Rev., AGM, 5.00%, 11/01/2038		3,500		3,677
Series B, Rev., AGM, 5.00%, 11/01/2038		1,000		1,144
Series B, Rev., AGM, 5.00%, 11/01/2039		1,000		1,138
City of Chicago Waterworks Revenue, Second Lien Project,
Rev., 4.00%, 11/01/2037		215		215
Rev., 5.00%, 11/01/2044		2,410		2,425
City of Chicago, Chicago Works,
Series A, GO, 5.25%, 01/01/2038		2,680		2,913
Series A, GO, 5.50%, 01/01/2039		1,180		1,295
Series A, GO, 5.50%, 01/01/2040		1,000		1,093
Series A, GO, 5.50%, 01/01/2041		1,000		1,069
Series A, GO, 5.50%, 01/01/2043		1,500		1,594


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Illinois — continued
City of Chicago, Wastewater Transmission Revenue, Second Lien,
Rev., 5.00%, 01/01/2039		4,005		4,007
Series A, Rev., AGM, 5.25%, 01/01/2048		5,000		5,557
Series B, Rev., AGM-CR, 5.00%, 01/01/2027		1,000		1,066
Series B, Rev., AGM, 5.00%, 01/01/2029		300		335
Series B, Rev., AGM, 5.00%, 01/01/2038		1,940		2,223
City of Chicago, Waterworks Revenue, Second Lien,
Rev., 5.00%, 11/01/2034		7,000		7,089
Series A, Rev., AGM, 5.25%, 11/01/2048		1,500		1,679
Series B, Rev., AGM, 4.00%, 11/01/2040		4,320		4,424
Series B, Rev., AGM, 5.00%, 11/01/2028		300		334
Series B, Rev., AGM, 5.00%, 11/01/2031		400		470
Series B, Rev., AGM, 5.00%, 11/01/2033		2,350		2,775
City of Granite City, Waste Management, Inc., Rev., AMT, 1.25%, 05/01/2027		5,000		4,453
Cook County Community College District No. 508, City Colleges Chicago,
GO, 5.13%, 12/01/2038		1,000		1,000
GO, 5.25%, 12/01/2030		1,000		1,000
Cook County Community Consolidated School District No. 34 Glenview, GO, 4.00%, 12/01/2029		2,000		2,173
Cook County High School District No. 214 Arlington Heights, GO, 4.00%, 12/01/2026		1,910		1,990
Cook County School District No. 87 Berkeley, GO, AGM, 3.00%, 12/01/2034		1,500		1,403
Cook County, Community School District No. 97, Oak Park, GO, 4.00%, 01/01/2034		2,000		2,097
County of Cook,
Series A, GO, 5.00%, 11/15/2025		960		998
Series A, GO, AGM, 5.00%, 11/15/2026		1,000		1,066
Series A, GO, 5.00%, 11/15/2026		3,900		4,151
Series A, GO, 5.00%, 11/15/2033		250		287
County of Cook Sales Tax Revenue,
Rev., 4.00%, 11/15/2037		3,500		3,588
Rev., 4.00%, 11/15/2038		1,545		1,565
Series A, Rev., 4.00%, 11/15/2039		2,000		2,029
Series A, Rev., 4.00%, 11/15/2040		5,250		5,286
Series A, Rev., 5.00%, 11/15/2025		690		717
Series A, Rev., 5.25%, 11/15/2045		2,500		2,754
County of Cook, Sales Tax Revenue, Series A, Rev., 5.00%, 11/15/2038		1,240		1,358
Illinois Finance Authority,
Series A, Rev., 4.00%, 07/15/2036		710		747
Series A, Rev., 4.00%, 07/15/2039		3,000		3,067
Series B2, Rev., 5.00%, 05/15/2050 (z)		4,800		4,995
Illinois Finance Authority, Acero Charter Schools, Inc., Rev., 4.00%, 10/01/2042 (e)		500		412
Illinois Finance Authority, Advocate Health Care Network Project, Rev., 4.00%, 11/01/2030		2,165		2,215


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Illinois — continued
Illinois Finance Authority, Ann & Robert H. Lurie Child, Rev., 4.00%, 08/15/2037		500		508
Illinois Finance Authority, Ann & Robert H. Lurie Children’s Hospital of Chicago, Rev., 5.00%, 08/15/2035		1,610		1,709
Illinois Finance Authority, Carle Foundation, Series A, Rev., 5.00%, 02/15/2045		19,250		19,633
Illinois Finance Authority, Centegra Health System, Series A, Rev., 5.00%, 09/01/2025 (p)		130		132
Illinois Finance Authority, Depaul College Prep Foundation, Rev., 5.50%, 08/01/2043 (e)		1,360		1,390
Illinois Finance Authority, Green Bond, Rev., 4.00%, 07/01/2038		4,160		4,318
Illinois Finance Authority, Green Bonds,
Rev., 4.00%, 01/01/2033		8,190		8,897
Rev., 4.00%, 07/01/2040		1,500		1,546
Illinois Finance Authority, Health Services Facility Lease Revenue, Provident Group UIC Surgery,
Rev., 4.00%, 10/01/2040		1,750		1,666
Rev., 5.00%, 10/01/2032		750		814
Illinois Finance Authority, Illinois State Clean Water Initiative, Green Bond, Rev., 5.00%, 01/01/2028		100		110
Illinois Finance Authority, Mercy Health Corp., Rev., 5.00%, 12/01/2040		1,080		1,105
Illinois Finance Authority, Northshore University Health System, Rev., 5.00%, 08/15/2035		750		846
Illinois Finance Authority, Northwestern Memorial HealthCare, Rev., 4.00%, 07/15/2047		4,000		3,874
Illinois Finance Authority, OSF Healthcare System,
Rev., 4.00%, 05/15/2050		1,000		927
Series A, Rev., 5.00%, 11/15/2045		10,900		11,048
Series B1, Rev., 5.00%, 05/15/2050 (z)		2,250		2,258
Illinois Finance Authority, Plymouth Place, Inc., Rev., 5.00%, 05/15/2041		400		343
Illinois Finance Authority, Presbyterian Homes, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 4.57%, 05/01/2042 (aa)		180		176
Illinois Finance Authority, Rush University Medical Center, Series A, Rev., 4.00%, 11/15/2039		1,320		1,261
Illinois Finance Authority, Southern Illinois Healthcare, Rev., 5.00%, 03/01/2031		2,135		2,228
Illinois Finance Authority, State Clean Water Initiative, Rev., 4.00%, 07/01/2026		2,100		2,156
Illinois Finance Authority, Sustainable Bond, Illinois State Clean Water, Rev., 5.00%, 01/01/2024		1,030		1,030


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Illinois — continued
Illinois Finance Authority, Swedish Covenant Hospital, Rev., 5.00%, 08/15/2032 (p)		4,000		4,215
Illinois Finance Authority, The Carle Foundation,
Series A, Rev., 3.00%, 08/15/2048		2,850		2,249
Series A, Rev., 4.00%, 08/15/2038		1,615		1,655
Series A, Rev., 5.00%, 08/15/2031		2,530		2,905
Series B, Rev., 5.00%, 08/15/2053 (z)		285		320
Illinois Finance Authority, UChicago Medicine,
Rev., 5.00%, 08/15/2052 (z)		1,710		1,828
Series A, Rev., 5.00%, 08/15/2047		17,000		18,182
Illinois Finance Authority, University of Chicago,
Series A, Rev., 5.00%, 10/01/2028		3,000		3,337
Series A, Rev., 5.00%, 10/01/2030		3,000		3,032
Series A, Rev., 5.00%, 10/01/2034		1,750		2,153
Series A, Rev., 5.00%, 10/01/2035		1,400		1,736
Series A, Rev., 5.00%, 10/01/2038		11,600		11,920
Series A, Rev., 5.25%, 05/15/2048		2,000		2,246
Illinois Housing Development Authority,
Series C, Rev., FHA, 0.80%, 07/01/2026		270		247
Series D, Rev., GNMA/FNMA/FHLMC, 3.75%, 04/01/2050		1,215		1,208
Illinois Housing Development Authority, 6900 Crandon, Rev., FHA HUD, 5.00%, 02/01/2027 (z)		1,700		1,750
Illinois Housing Development Authority, Social Bonds,
Series A, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051		3,475		3,375
Series B, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051		370		358
Series H, Rev., GNMA FNMA FHLMC COLL, 5.75%, 10/01/2053		695		751
Illinois Housing Development Authority, South Shore HHDC, Rev., HUD, 5.00%, 02/01/2027 (z)		1,520		1,564
Illinois Housing Development Authority, Sustainable Bonds, Series N, Rev., GNMA/FNMA/FHLMC, 6.25%, 04/01/2054		9,955		11,032
Illinois Sports Facilities Authority (The), State Tax Supported,
Rev., 5.00%, 06/15/2030		500		533
Rev., AGM, 5.25%, 06/15/2031		225		227
Rev., AGM, 5.25%, 06/15/2032		5,000		5,022
Illinois State Toll Highway Authority,
Series A, Rev., 4.00%, 01/01/2046		14,950		14,822
Series A, Rev., 5.00%, 01/01/2028		185		195
Series A, Rev., 5.00%, 01/01/2041		3,300		3,712
Series A, Rev., 5.00%, 01/01/2044		6,580		7,121
Series B, Rev., 5.00%, 01/01/2029		100		104
Series B, Rev., 5.00%, 01/01/2037		5,000		5,024
Series B, Rev., 5.00%, 01/01/2040		5,500		5,649


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Illinois — continued
Illinois State Toll Highway Authority, Senior,
Series A, Rev., 5.00%, 01/01/2029 (w)		800		896
Series A, Rev., 5.00%, 12/01/2031		5,115		5,330
Series A, Rev., 5.00%, 01/01/2036 (w)		1,300		1,580
Series A, Rev., 5.00%, 01/01/2037 (w)		1,500		1,795
Series A, Rev., 5.25%, 01/01/2043		2,315		2,664
Series B, Rev., 5.00%, 01/01/2028		4,000		4,384
Series B, Rev., 5.00%, 01/01/2041		2,190		2,253
Illinois State Toll Highway Authority, Toll Highway Revenue,
Series A, Rev., 5.00%, 01/01/2036		1,000		1,155
Series A, Rev., 5.00%, 01/01/2037		1,555		1,779
Macon County, School District No. 61 Decatur,
GO, AGM, 4.00%, 01/01/2040		1,420		1,426
GO, AGM, 4.00%, 01/01/2045		3,000		2,949
Metropolitan Pier & Exposition Authority, Rev., NATL, Zero Coupon, 12/15/2034		500		345
Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion, Rev., 5.00%, 06/15/2042		5,645		5,972
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick,
Rev., NATL, Zero Coupon, 12/15/2035		500		331
Rev., NATL, Zero Coupon, 06/15/2036		6,000		3,859
Rev., NATL, Zero Coupon, 06/15/2037		500		305
Rev., AGM, Zero Coupon, 06/15/2044		500		211
Series B, Rev., AGM, Zero Coupon, 06/15/2027		4,310		3,864
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick Project, Rev., NATL, Zero Coupon, 06/15/2028		250		216
Metropolitan Pier & Exposition Authority, McCormick Expansion Project, Series B, Rev., 5.00%, 12/15/2027		125		128
Metropolitan Pier & Exposition Authority, McCormick Place,
Rev., Zero Coupon, 06/15/2037		1,175		708
Rev., Zero Coupon, 06/15/2041		1,750		837
Metropolitan Pier & Exposition Authority, McCormick Place Expansion,
Rev., Zero Coupon, 12/15/2035		3,200		2,092
Rev., 3.00%, 06/15/2025		150		149
Rev., 4.00%, 12/15/2042		5,990		5,986
Rev., 4.00%, 06/15/2050		1,000		949
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Rev., 5.00%, 06/15/2057		1,760		1,796
Metropolitan Water Reclamation District of Greater Chicago, Green Bond, Series C, GO, 5.00%, 12/01/2045		3,000		3,076
Metropolitan Water Reclamation District of Greater Chicago, Green Bonds, Series E, GO, 5.00%, 12/01/2036		2,065		2,169


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Illinois — continued
Northern Illinois University, Board of Trustees Auxiliary Facilities, Rev., BAM, 4.00%, 10/01/2033		1,000		1,040
Regional Transportation Authority, Series A, Rev., NATL, 6.00%, 07/01/2025		25		26
Sales Tax Securitization Corp., Series A, Rev., 5.00%, 01/01/2048		2,000		2,066
Sales Tax Securitization Corp., Second Lien,
Series A, Rev., 4.00%, 01/01/2039		3,000		3,040
Series A, Rev., BAM, 5.00%, 01/01/2037		750		819
Series C, Rev., 5.00%, 01/01/2029		850		934
Series C, Rev., 5.00%, 01/01/2032		1,400		1,608
Southwestern Illinois Development Authority, Southwestern Il Flood Prevention, Rev., 4.00%, 10/15/2035		1,215		1,265
State of Illinois,
GO, 4.00%, 06/01/2032		1,980		2,012
GO, 4.00%, 06/01/2034		4,485		4,529
GO, 4.00%, 06/01/2036		485		489
GO, 5.00%, 01/01/2028		6,810		7,031
GO, 5.00%, 02/01/2028		3,050		3,232
GO, 5.00%, 01/01/2029		2,085		2,153
GO, 5.00%, 02/01/2029		1,000		1,058
GO, 5.25%, 02/01/2030		2,000		2,003
GO, 5.50%, 05/01/2030		2,000		2,242
Series A, GO, 4.00%, 03/01/2041		250		250
Series A, GO, 5.00%, 03/01/2024		80		80
Series A, GO, 5.00%, 11/01/2026		1,360		1,433
Series A, GO, 5.00%, 03/01/2027		2,355		2,497
Series A, GO, 5.00%, 03/01/2028		1,500		1,619
Series A, GO, 5.00%, 03/01/2030		1,000		1,112
Series A, GO, 5.00%, 03/01/2046		1,000		1,059
Series A, GO, 5.50%, 03/01/2042		1,500		1,678
Series A, GO, 5.50%, 03/01/2047		2,690		2,952
Series A, GO, 6.00%, 05/01/2025		500		518
Series B, GO, 4.00%, 10/01/2033		2,000		2,075
Series B, GO, 5.00%, 10/01/2029		1,000		1,106
Series B, GO, 5.00%, 10/01/2031		5,000		5,587
Series B, GO, 5.50%, 05/01/2039		250		277
Series B, GO, 5.50%, 05/01/2047		2,500		2,746
Series C, GO, 4.00%, 10/01/2037		2,000		2,029
Series C, GO, 5.00%, 11/01/2029		4,200		4,497
Series C, GO, 5.25%, 10/01/2047		3,000		3,249
Series D, GO, 5.00%, 11/01/2024		1,000		1,015
Series D, GO, 5.00%, 11/01/2026		1,980		2,088
Series D, GO, 5.00%, 11/01/2027		6,080		6,535
Series D, GO, 5.00%, 11/01/2028		2,500		2,684
State of Illinois Sales Tax Revenue, Series A, Rev., BAM, 4.00%, 06/15/2029		2,250		2,334
State of Illinois Sales Tax Revenue, Junior Obligation,
Series A, Rev., BAM, 4.00%, 06/15/2026		505		514
Series A, Rev., BAM, 4.00%, 06/15/2031		1,500		1,565
State of Illinois, Build America Bonds,
GO, 6.90%, 03/01/2035		1,000		1,068


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Illinois — continued
GO, 7.35%, 07/01/2035		3,429		3,724
State of Illinois, Rebuild Illinois Program, Series B, GO, 4.00%, 11/01/2039		1,500		1,507
University of Illinois, Auxiliary Facilities System, Series A, Rev., 5.00%, 04/01/2025		140		141
University of Illinois, Auxiliary Facility, Series A, Rev., AGM-CR, 4.00%, 04/01/2036		4,730		4,766
Village of Rosemont, Series A, GO, BAM, 5.00%, 12/01/2042		10,000		11,037
Will County Community Unit School District No. 209-U Wilmington, GO, AGM, 5.50%, 02/01/2038		1,195		1,342


				632,929

Indiana — 1.7%
City of Fishers Sewage Works Revenue, Rev., BAM, 4.00%, 07/01/2047		1,000		992
City of Kokomo, KHA RAD I Apartments, Rev., HUD, 0.56%, 02/01/2025 (z)		2,175		2,168
City of Rockport, Industry Pollution Control, Michigan Power Company Project, Rev., 2.75%, 06/01/2025		100		99
City of Whiting, BP Products North America,
Rev., AMT, 4.40%, 11/01/2045 (z)		6,000		6,167
Rev., AMT, 4.40%, 03/01/2046 (z)		2,500		2,562
City of Whiting, BP Products North America, Inc. Project, Rev., AMT, 5.00%, 11/01/2047 (z)		5,000		5,026
Evansville Waterworks District, Series A, Rev., BAM, 5.00%, 07/01/2042		925		1,018
Indiana Finance Authority, Citizens Water Westfield Project, Series A, Rev., 4.00%, 10/01/2048		1,500		1,446
Indiana Finance Authority, Community Foundation of Northwest Industry, Rev., 5.00%, 09/01/2036		1,000		1,046
Indiana Finance Authority, DePauw University Project, Series A, Rev., 5.00%, 07/01/2047		8,000		8,161
Indiana Finance Authority, Duke Energy Indian, Rev., AMT, 4.50%, 05/01/2035 (z)		3,305		3,379
Indiana Finance Authority, First Lien CWA Authority Project,
Rev., 5.00%, 10/01/2040 (w)		1,250		1,384
Rev., 5.00%, 10/01/2041 (w)		500		551
Indiana Finance Authority, Green Bonds CWA Authority Project, Rev., 4.00%, 10/01/2037		1,440		1,492
Indiana Finance Authority, IN University Health Obligation Group, Rev., 4.00%, 12/01/2040		1,000		983


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Indiana — continued
Indiana Finance Authority, Indianapolis Power,
Series A, Rev., 0.75%, 12/01/2038 (z)		4,875		4,472
Series B, Rev., AMT, 0.95%, 12/01/2038 (z)		7,025		6,488
Indiana Finance Authority, Marion General Hospital, Series A, Rev., 4.00%, 07/01/2040		5,060		4,956
Indiana Finance Authority, Ohio Valley Electric Corp., Rev., 3.00%, 11/01/2030		1,230		1,155
Indiana Finance Authority, Ohio Valley Electric Corp. Project,
Series A, Rev., 4.25%, 11/01/2030		2,000		2,026
Series B, Rev., 2.50%, 11/01/2030		1,000		909
Indiana Finance Authority, Second Lien, CWA Authority Project, Rev., 5.00%, 10/01/2035		3,000		3,490
Indiana Finance Authority, United States Steel Corp., Series A, Rev., 4.13%, 12/01/2026		145		143
Indiana Finance Authority, University of Evansville, Rev., 5.25%, 09/01/2037		1,150		1,206
Indiana Finance Authority, Valley Electric Corporation Project, Series B, Rev., 3.00%, 11/01/2030		1,000		939
Indiana Finance Authority, Valparaiso University Project, Rev., 4.00%, 10/01/2034		1,315		1,309
Indiana Housing & Community Development Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		750		731
Indiana Housing & Community Development Authority, Social Bonds,
Series A1, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 07/01/2053		250		268
Series A, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2052		965		933
Series C1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		45		43
Indiana Municipal Power Agency, Series A, Rev., 5.00%, 01/01/2029		400		446
Indianapolis Local Public Improvement Bond Bank,
Series A, Rev., AGM, 4.00%, 06/01/2036		5,000		5,351
Series A, Rev., AGM, 4.00%, 06/01/2041		9,000		9,126
Series A, Rev., 5.00%, 06/01/2024		15		15
Series A, Rev., 5.00%, 06/01/2025		500		514
Indianapolis Local Public Improvement Bond Bank, Airport Authority, Series A1, Rev., AMT, 5.00%, 01/01/2028		200		207
Indianapolis Local Public Improvement Bond Bank, CityWay 1 Project, Series B, Rev., 5.00%, 02/01/2024		175		175
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport, Rev., AMT, 5.00%, 01/01/2029		2,855		3,093


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Indiana — continued
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport Authority,
Rev., AMT, 5.00%, 01/01/2026		1,500		1,546
Rev., AMT, 5.00%, 01/01/2029		4,245		4,585
Rev., AMT, 5.00%, 01/01/2031		3,500		3,877
Series D, Rev., AMT, 5.00%, 01/01/2029		3,000		3,011
Series D, Rev., AMT, 5.00%, 01/01/2030		2,000		2,008
Series D, Rev., AMT, 5.00%, 01/01/2031		4,000		4,015
Series D, Rev., AMT, 5.00%, 01/01/2032		4,500		4,517
Series D, Rev., AMT, 5.00%, 01/01/2033		3,500		3,513
Series I, Rev., AMT, 5.00%, 01/01/2032		4,885		4,926
Series I, Rev., AMT, 5.00%, 01/01/2033		5,000		5,042
Indianapolis Local Public Improvement Bond Bank, Metropolitan Thoroughfare District, Series D, Rev., 4.00%, 01/01/2041		10,000		10,222
Indianapolis Local Public Improvement Bond Bank, Senior, Convention Center Hotel,
Rev., 5.50%, 03/01/2038		2,150		2,374
Rev., 6.00%, 03/01/2053		2,050		2,236
Northwestern School Building Corp.,
Rev., 6.00%, 07/15/2040		700		815
Rev., 6.00%, 07/15/2041		900		1,044
Purdue University, Series A, Rev., 5.00%, 07/01/2027		1,500		1,633


				139,833

Iowa — 0.6%
Iowa Finance Authority,
Series A, Rev., 5.00%, 08/01/2034		1,030		1,216
Series D, Rev., GNMA/FNMA/FHLMC, 3.50%, 01/01/2049		300		295
Iowa Finance Authority, Ahepa 192, IV Apartments Project, Rev., HUD, 5.00%, 11/01/2026 (z)		3,040		3,109
Iowa Finance Authority, Alcoa, Inc. Project, Rev., 4.75%, 08/01/2042		5,000		4,909
Iowa Finance Authority, Iowa Fertilizer Company Project,
Rev., 4.00%, 12/01/2050 (z)		5,905		5,980
Rev., 5.00%, 12/01/2050		5,255		5,479
Iowa Finance Authority, Social Bond, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		2,000		1,933
Iowa Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2047		1,840		1,786
Iowa Student Loan Liquidity Corp., Series B, Rev., AMT, 5.00%, 12/01/2030		1,000		1,087
Iowa Tobacco Settlement Authority, Subordinate,
Series B1, Rev., 4.00%, 06/01/2049		6,670		6,706
Series B, Rev., Zero Coupon, 06/01/2065		15,345		2,009
PEFA, Inc., Rev., 5.00%, 09/01/2049 (z)		2,745		2,812
Sioux City Community School District, Rev., BAM, 3.00%, 10/01/2025		3,625		3,625


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Iowa — continued
Southeast Polk Community School District, Series A, GO, 5.00%, 05/01/2028		5,185		5,719


				46,665

Kansas — 0.3%
Butler County Unified School District No. 385 Andover, Refunding and School Building, GO, 5.00%, 09/01/2032 (p)		1,000		1,088
City of Manhattan, Meadowlark Hills, Series A, Rev., 4.00%, 06/01/2036		1,000		907
Johnson County Unified School District No. 512 Shawnee Mission, Series A, GO, 4.00%, 10/01/2043		2,000		2,031
Kansas Development Finance Authority, Unrefunded, Rev., 5.00%, 11/15/2054 (z)		1,500		1,640
Riley County Unified School District No. 383 Manhattan-Ogden, Series A, GO, 5.00%, 09/01/2034 (p)		1,000		1,092
University of Kansas Hospital Authority, Improvement Ku Health System, Rev., 5.00%, 09/01/2045		3,800		3,859
University of Kansas Hospital Authority, University Kansas Health System, Rev., 5.00%, 03/01/2047 (p)		3,865		4,143
University of Kansas Hospital Authority, Unrefunded University Kansas Health System, Rev., 5.00%, 03/01/2047		7,350		7,548
Wyandotte County Unified School District No. 203 Piper,
Series A, GO, AGM, 5.00%, 09/01/2040		900		1,000
Series A, GO, AGM, 5.25%, 09/01/2052		1,000		1,102


				24,410

Kentucky — 1.8%
City of Henderson, Pratt Paper LLC Project, Rev., AMT, 4.45%, 01/01/2042 (e)		1,685		1,603
County of Carroll, Utilities Company Project, Rev., AMT, 2.00%, 02/01/2032		8,620		7,249
County of Meade, Nucor Steel Brandenbur, Rev., VRDO, AMT, 5.05%, 01/02/2024 (z)		14,600		14,600
County of Trimble, Kentucky Utilities Co., Rev., AMT, 4.70%, 06/01/2054 (z)		8,000		8,123
County of Trimble, Louisville Gas & Electric, Rev., 0.63%, 09/01/2026		605		559
County of Trimble, Louisville Gas & Electricity, Rev., AMT, 1.35%, 11/01/2027		8,100		7,479
County of Trimble, Louisville Gas and Electric, Rev., AMT, 4.70%, 06/01/2054 (z)		6,665		6,767
County of Trimble, Louisville Gas and Electric Company, Rev., AMT, 1.30%, 09/01/2044 (z)		1,000		884


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Kentucky — continued
Fayette County School District Finance Corp., Series A, Rev., 4.00%, 05/01/2038		3,000		3,014
Kentucky Bond Development Corp., Centre College, Rev., 4.00%, 06/01/2040		420		431
Kentucky Economic Development Finance Authority, Baptist Healthcare System, Series B, Rev., 5.00%, 08/15/2041		9,550		9,818
Kentucky Economic Development Finance Authority, Commonspirit Health, Series A, Rev., 5.00%, 08/01/2044		3,500		3,645
Kentucky Economic Development Finance Authority, Norton Healthcare, Inc.,
Series B, Rev., NATL, Zero Coupon, 10/01/2026		3,930		3,552
Series B, Rev., NATL, Zero Coupon, 10/01/2027		1,995		1,741
Kentucky Economic Development Finance Authority, Senior Next Generation Information,
Rev., 5.00%, 07/01/2040		5,000		5,038
Rev., 5.00%, 01/01/2045		3,295		3,309
Kentucky Housing Corp., Beecher Terrace Phase IV, Rev., HUD, 5.00%, 09/01/2043 (z)		1,015		1,046
Kentucky Housing Corp., Cambridge Square Project, Rev., 0.30%, 08/01/2024 (z)		575		573
Kentucky Public Energy Authority,
Series A1, Rev., 4.00%, 08/01/2052 (z)		1,000		1,004
Series A1, Rev., 5.25%, 04/01/2054 (z)		24,200		26,374
Series A2, Rev., (ICE LIBOR USD 1 Month * 0.67 + 1.12%), 4.78%, 12/01/2049 (aa)		1,000		998
Series A2, Rev., (United States SOFR * 0.67 + 1.20%), 4.81%, 08/01/2052 (aa)		2,500		2,425
Series C, Rev., 4.00%, 02/01/2050 (z)		10,885		10,915
Kentucky Public Energy Authority, Gas Supply,
Series B, Rev., 4.00%, 07/01/2024		1,320		1,321
Series B, Rev., 4.00%, 01/01/2049 (z)		12,385		12,387
Kentucky State University, Kentucky State University Project,
COP, BAM, 4.00%, 11/01/2033		145		156
COP, BAM, 4.00%, 11/01/2035		135		145
COP, BAM, 4.00%, 11/01/2036		155		164
COP, BAM, 4.00%, 11/01/2038		650		674
Louisville and Jefferson County Metropolitan Government, Louisville Gas and Electric Co. Project, Series A, Rev., 0.90%, 09/01/2026		2,750		2,569
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc., Rev., 5.00%, 10/01/2031		670		697


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Kentucky — continued
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric, Rev., 2.00%, 10/01/2033		1,000		856
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric Co. Project, Rev., AMT, 1.35%, 11/01/2027		2,000		1,837
Louisville/Jefferson County Metropolitan Government, UofL Health Project, Series A, Rev., 5.00%, 05/15/2047		3,180		3,351


				145,304

Louisiana — 1.3%
City of New Orleans Sewerage Service Revenue, Rev., 5.00%, 06/01/2045 (p)		2,000		2,063
City of Shreveport, Water & Sewer Improvement, GO, 5.00%, 09/01/2032 (p)		4,390		4,448
Consolidated Government of the City of Baton Rouge & Parish of East Baton Rouge, Sales Tax, Rev., AGM, 5.00%, 08/01/2027		1,400		1,513
East Baton Rouge Sewerage Commission, Series A, Rev., 1.30%, 02/01/2041 (z)		4,500		4,010
Ernest N Morial New Orleans Exhibition Hall Authority, Special Tax, 5.25%, 07/15/2048		6,000		6,572
Lakeshore Villages Master Community Development District, Parish of St. Tammany, Special Assessment, 3.20%, 06/01/2041 (e)		630		509
Louisiana Housing Corp., Home Ownership Program, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 06/01/2054		400		437
Louisiana Housing Corp., Social Bonds Home Ownership Project, Rev., GNMA/FNMA/FHLMC, 5.00%, 06/01/2052		1,195		1,240
Louisiana Local Government Environmental Facilities & Community Development Authority, Entergy Louisiana LLC Project,
Rev., 2.00%, 06/01/2030		2,755		2,435
Rev., 2.50%, 04/01/2036		1,185		987
Louisiana Local Government Environmental Facilities & Community Development Authority, Subordinate, East Baton Rouge,
Rev., 5.00%, 02/01/2036		640		736
Rev., 5.00%, 02/01/2041		1,560		1,733
Louisiana Public Facilities Authority, Children’s Medical Center Project, Rev., 5.00%, 06/01/2045 (z)		450		483
Louisiana Public Facilities Authority, Elementus Minerals LLC Project, Rev., AMT, 5.00%, 10/01/2043 (e) (z)		6,365		6,486
Louisiana Public Facilities Authority, Loyola University Project, Rev., 4.00%, 10/01/2038		2,560		2,578


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Louisiana — continued
Louisiana Public Facilities Authority, Ochsner Clinic Foundation, Series B, Rev., 5.00%, 05/15/2050 (z)		1,100		1,122
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Rev., 5.00%, 05/15/2042		1,480		1,524
Louisiana Stadium & Exposition District, Senior Bonds,
Series A, Rev., 5.00%, 07/01/2042		5,460		6,079
Series A, Rev., 5.00%, 07/01/2048		2,500		2,729
Series A, Rev., 5.25%, 07/01/2053		7,500		8,288
New Orleans Aviation Board,
Series B, Rev., AMT, 5.00%, 01/01/2040		14,500		14,531
Series B, Rev., AMT, 5.00%, 01/01/2045		4,000		4,004
New Orleans Aviation Board, General Airport, Series D2, Rev., AMT, 5.00%, 01/01/2033		1,100		1,148
New Orleans Aviation Board, General Airport North Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2038		1,000		1,030
Series B, Rev., AMT, 5.00%, 01/01/2048		5,000		5,053
Parish of St John the Baptist, Marathon Oil Corporation Project, Rev., 4.05%, 06/01/2037 (z)		2,625		2,596
Parish of St. John the Baptist, Marathon Oil Corp. Project, Series B1, Rev., 2.13%, 06/01/2037 (z)		875		863
Port New Orleans Board of Commissioners, Series E, Rev., AMT, 5.00%, 04/01/2039		1,170		1,219
St. Tammany Parish Hospital Service District No. 1,
Series A, Rev., 5.00%, 07/01/2032		1,615		1,746
Series A, Rev., 5.00%, 07/01/2034		1,655		1,784
State of Louisiana, Series A, GO, 5.00%, 03/01/2037		9,555		10,604
State of Louisiana Gasoline & Fuels Tax Revenue, Second Lien, Series A, Rev., (United States SOFR * 0.70 + 0.50%), 4.27%, 05/01/2043 (aa)		1,130		1,108


				101,658

Maine — 0.2%
Finance Authority of Maine, Supplemental Educational Loan Program,
Series A1, Rev., AGM, AMT, 2.38%, 12/01/2033		705		636
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2024		75		76
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2025		85		88
Maine Health & Higher Educational Facilities Authority, Series A, Rev., AGM, 4.38%, 07/01/2048		2,100		2,127
Maine State Housing Authority, Social Bonds, Series D, Rev., 3.00%, 11/15/2051		870		844


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Maine — continued
Maine Turnpike Authority,
Rev., 4.00%, 07/01/2045		9,000		9,020
Rev., 5.00%, 07/01/2028		2,000		2,223


				15,014

Maryland — 1.4%
City of Baltimore, Water Project, Series A, Rev., 5.00%, 07/01/2050		3,200		3,439
City of Brunswick, Brunswick Crossing Special Tax, Special Tax, 4.00%, 07/01/2029		500		493
County of Baltimore, Series 83, GO, 5.00%, 03/01/2024		50		50
County of Howard, Series D, GO, 5.00%, 02/15/2030		3,000		3,314
County of Montgomery, Series B, GO, 4.00%, 11/01/2028		1,500		1,620
County of Montgomery, Trinity Health Credit Group, Rev., 4.00%, 12/01/2044		3,000		2,980
County of Prince George’s, Series A, GO, 5.00%, 07/01/2029		1,250		1,427
County of Prince George’s, Chesapeake Lighthouse Obligations, Series A, Rev., 6.50%, 08/01/2035 (e) (p)		750		798
Maryland Community Development Administration,
Series B, Rev., 3.00%, 09/01/2051		145		141
Series D, Rev., 3.25%, 09/01/2050		2,265		2,225
Maryland Community Development Administration, Community Dev Admin Social Bonds, Rev., GNMA/FNMA/FHLMC COLL, 4.95%, 09/01/2042		1,430		1,529
Maryland Community Development Administration, Park Heights Senior, Series C, Rev., 5.25%, 11/01/2025		4,880		4,974
Maryland Community Development Administration, Residential,
Series A, Rev., 3.75%, 03/01/2050		1,200		1,193
Series B, Rev., AMT, 4.50%, 09/01/2048		1,375		1,383
Maryland Community Development Administration, Social Bonds,
Series C, Rev., 3.00%, 09/01/2051		2,366		2,294
Series C, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 09/01/2054		450		487
Maryland Community Development Administration, Sustainable Bonds, Series E, Rev., GNMA/FNMA/FHLMC, 6.25%, 03/01/2054		5,000		5,522
Maryland Economic Development Corp., Green Bond Purple Line Light, Rev., AMT, 5.25%, 06/30/2052		2,000		2,067
Maryland Economic Development Corp., Green Bond, Purple Line, Rev., AMT, 5.25%, 06/30/2047		1,300		1,352


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Maryland — continued
Maryland Economic Development Corp., Morgan State University Project,
Rev., 4.00%, 07/01/2040		665		628
Rev., 5.38%, 07/01/2038		1,250		1,351
Maryland Economic Development Corp., Port Covington Project,
Tax Allocation, 3.25%, 09/01/2030		1,405		1,328
Tax Allocation, 4.00%, 09/01/2040		2,280		2,060
Maryland Economic Development Corp., Transportation Facilities Project, Series A, Rev., 5.00%, 06/01/2035		1,000		1,058
Maryland Health & Higher Educational Facilities Authority, Adventist Healthcare,
Rev., 4.00%, 01/01/2038		2,020		1,924
Rev., 5.00%, 01/01/2025		470		475
Rev., 5.00%, 01/01/2036		4,580		4,880
Maryland Health & Higher Educational Facilities Authority, Doctors Community Hospital, Rev., 5.00%, 07/01/2034		2,000		2,081
Maryland Health & Higher Educational Facilities Authority, Lifebridge Health, Rev., 4.00%, 07/01/2041		2,315		2,321
Maryland Health & Higher Educational Facilities Authority, Medstar Health Issue,
Series A, Rev., 5.00%, 05/15/2042		3,000		3,092
Series A, Rev., 5.00%, 05/15/2045		9,565		9,782
Series B, Rev., 5.00%, 08/15/2038		1,000		1,000
Maryland Health & Higher Educational Facilities Authority, Meritus Medical Center, Rev., 5.00%, 07/01/2028		1,300		1,331
Maryland Stadium Authority Built to Learn Revenue,
Rev., 4.00%, 06/01/2035		2,000		2,115
Rev., 4.00%, 06/01/2036		2,125		2,232
Series A, Rev., 5.00%, 06/01/2033		1,375		1,615
State of Maryland, Series B, GO, 5.00%, 08/01/2026		1,000		1,064
State of Maryland Department of Transportation, Rev., 3.00%, 10/01/2030		1,500		1,494
State of Maryland Department of Transportation, Baltimore Washington International,
Rev., AMT, 4.00%, 08/01/2038		965		979
Rev., AMT, 4.00%, 08/01/2039		1,160		1,168
State of Maryland, Bidding Group 1, Series A, GO, 5.00%, 03/15/2030		1,495		1,732
State of Maryland, Group 1, Series A, GO, 5.00%, 08/01/2028		1,500		1,678
State of Maryland, Local Facilities Loan, Series A, GO, 5.00%, 08/01/2028		5,000		5,593
State of Maryland, State & Local Facilities Loan of 2022, GO, 5.00%, 06/01/2033		1,000		1,205


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Maryland — continued
State of Maryland, State and Local Facilities Loan, Series A, GO, 5.00%, 06/01/2036		1,500		1,783
Washington Suburban Sanitary Commission,
Rev., CNTY GTD, 2.13%, 06/01/2036		7,885		6,598
Rev., CNTY GTD, 5.00%, 06/01/2029		2,000		2,280
Rev., CNTY GTD, 5.00%, 06/01/2039		9,080		10,642
Washington Suburban Sanitary Commission, Consolidated Public Improvement, Rev., CNTY GTD, 5.00%, 06/01/2029		1,500		1,672


				114,449

Massachusetts — 1.3%
Boston Water & Sewer Commission, Senior Bonds, Series B, Rev., 4.00%, 11/01/2039		1,570		1,672
Collegiate Charter School of Lowell, Rev., 5.00%, 06/15/2049		1,250		1,165
Commonwealth of Massachusetts,
GO, 4.00%, 05/01/2035		2,950		2,950
Rev., NATL, 5.50%, 01/01/2034		1,500		1,774
Series C, GO, 5.00%, 10/01/2049		10,000		11,136
Series E, GO, 5.00%, 11/01/2047		5,000		5,557
Commonwealth of Massachusetts Transportation Fund Revenue, Rail Enhancement Project, Series B, Rev., 5.00%, 06/01/2025		375		387
Commonwealth of Massachusetts, Consolidated Loans, Series E, GO, 5.00%, 11/01/2050		2,175		2,350
Massachusetts Clean Water Trust (The), Sustainable Bonds,
Rev., 5.00%, 02/01/2033		1,000		1,224
Rev., 5.00%, 02/01/2035		3,760		4,568
Rev., 5.00%, 02/01/2038		250		294
Massachusetts Development Finance Agency, Beth Israel Lahey Health Issue, Rev., 5.00%, 07/01/2032		4,385		5,079
Massachusetts Development Finance Agency, Emerson College, Series A, Rev., 5.00%, 01/01/2047		3,075		3,100
Massachusetts Development Finance Agency, Green Bond, Boston Medical Center, Rev., 5.00%, 07/01/2044		2,840		2,855
Massachusetts Development Finance Agency, Harvard University Issue, Series A, Rev., 5.00%, 10/15/2030		1,000		1,179
Massachusetts Development Finance Agency, Lahey Health System, Series F, Rev., 5.00%, 08/15/2045		10,000		10,100
Massachusetts Development Finance Agency, Milford Regional Medical Center, Rev., 5.00%, 07/15/2046 (e)		1,000		915
Massachusetts Development Finance Agency, Northeastern University Issue, Rev., 5.00%, 10/01/2044		2,000		2,247


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Massachusetts — continued
Massachusetts Development Finance Agency, Partners Healthcare System, Rev., (SIFMA Municipal Swap Index + 0.60%), 4.47%, 07/01/2049 (e) (aa)		100		99
Massachusetts Development Finance Agency, Suffolk University Project, Rev., 4.00%, 07/01/2051		1,250		1,051
Massachusetts Development Finance Agency, Umass Memorial Health Care, Rev., 5.00%, 07/01/2044		1,000		1,019
Massachusetts Educational Financing Authority,
Series B, Rev., AMT, 2.63%, 07/01/2036		300		294
Series B, Rev., AMT, 5.00%, 07/01/2024		615		619
Series I, Rev., AMT, 5.00%, 01/01/2025		3,000		3,044
Massachusetts Educational Financing Authority, Educational Loan Revenue Bonds, Rev., AMT, 2.00%, 07/01/2037		180		158
Massachusetts Educational Financing Authority, Senior, Series B, Rev., AMT, 5.00%, 07/01/2029		1,400		1,505
Massachusetts Educational Financing Authority, Senior Bonds,
Series B, Rev., AMT, 4.25%, 07/01/2044		305		307
Series B, Rev., AMT, 5.00%, 07/01/2029		2,650		2,848
Massachusetts Educational Financing Authority, Senior Issue M, Series B, Rev., AMT, 3.63%, 07/01/2038		1,030		980
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute Technology, Series J2, Rev., VRDO, 3.40%, 01/05/2024 (z)		4,015		4,015
Massachusetts Housing Finance Agency, Social Bond, Series 220, Rev., GNMA/FNMA/FHLMC, 3.00%, 12/01/2050		2,870		2,798
Massachusetts Housing Finance Agency, Social Bonds,
Series 223, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2047		900		876
Series 227, Rev., GNMA/FNMA/FHLMC COLL, 4.70%, 12/01/2043		2,250		2,322
Massachusetts Housing Finance Agency, Sustainability Bond,
Series B2, Rev., 0.75%, 06/01/2025		115		109
Series C1, Rev., 2.65%, 12/01/2034		1,000		890
Series D3, Rev., FHA HUD, 3.35%, 06/01/2027		650		652
Massachusetts Housing Finance Agency, Sustainability Bonds, Series A2, Rev., HUD, 0.40%, 06/01/2024		140		138
Massachusetts Port Authority,
Series E, Rev., AMT, 5.00%, 07/01/2031		1,495		1,692
Series E, Rev., AMT, 5.00%, 07/01/2032		2,000		2,262
Massachusetts Port Authority, Green Bonds,
Series A, Rev., AMT, 5.00%, 07/01/2031		925		1,047


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Massachusetts — continued
Series A, Rev., AMT, 5.00%, 07/01/2038		2,580		2,848
Series A, Rev., AMT, 5.00%, 07/01/2040		3,500		3,822
Massachusetts School Building Authority, Sales Tax, Series A, Rev., 5.00%, 11/15/2027		1,105		1,154
Massachusetts School Building Authority, Subordinated, Series A, Rev., 5.00%, 02/15/2036 (p)		7,190		7,206
Massachusetts Water Resources Authority, Green Bond, Series B, Rev., 5.00%, 08/01/2026		1,000		1,065
University of Massachusetts Building Authority, Series 2021, Rev., 5.00%, 11/01/2026		5,000		5,358


				108,730

Michigan — 1.7%
City of Detroit Sewage Disposal System Revenue, Floating Rate Notes Refunding System Libor D, Rev., AGM, (CME Term SOFR 3 Month * 0.67 + 0.60%), 4.39%, 07/01/2032 (aa)		1,000		951
City of Detroit, Social Bonds,
Series A, GO, 4.00%, 04/01/2041		500		472
Series A, GO, 5.00%, 04/01/2039		115		121
Series A, GO, 5.00%, 04/01/2046		35		36
Series A, GO, 5.00%, 04/01/2050		30		31
Detroit Downtown Development Authority, Catalyst Development Project,
Series A, Tax Allocation, AGM, 5.00%, 07/01/2043		1,000		1,003
Series A, Tax Allocation, AGM, 5.00%, 07/01/2048		2,500		2,506
Gerald R Ford International Airport Authority,
Rev., CNTY GTD, AMT, 5.00%, 01/01/2026		225		234
Rev., CNTY GTD, AMT, 5.00%, 01/01/2027		350		371
Rev., CNTY GTD, AMT, 5.00%, 01/01/2028		275		297
Rev., CNTY GTD, AMT, 5.00%, 01/01/2029		600		658
Rev., CNTY GTD, AMT, 5.00%, 01/01/2034		1,140		1,298
Rev., CNTY GTD, AMT, 5.00%, 01/01/2038		1,300		1,435
Rev., CNTY GTD, AMT, 5.00%, 01/01/2039		1,000		1,099
Rev., CNTY GTD, AMT, 5.00%, 01/01/2040		1,125		1,231
Great Lakes Water Authority Sewage Disposal System Revenue, Senior Lien,
Series A, Rev., 5.00%, 07/01/2037		3,000		3,555
Series A, Rev., 5.00%, 07/01/2038		645		761
Series B, Rev., 5.00%, 07/01/2025		1,115		1,150


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Michigan — continued
Series B, Rev., 5.00%, 07/01/2028		140		155
Series C, Rev., 5.00%, 07/01/2037		850		1,007
Series C, Rev., 5.00%, 07/01/2038		725		855
Series C, Rev., 5.00%, 07/01/2040		1,150		1,332
Series C, Rev., 5.00%, 07/01/2041		1,140		1,310
Series C, Rev., 5.00%, 07/01/2042		1,200		1,372
Series C, Rev., 5.00%, 07/01/2043		875		997
Great Lakes Water Authority Water Supply System Revenue, Senior Lien, Series C, Rev., 5.25%, 07/01/2033		2,515		2,643
Great Lakes Water Authority Water Supply System Revenue, Senior Lien Bonds,
Series A, Rev., 5.00%, 07/01/2037		2,510		2,993
Series A, Rev., 5.00%, 07/01/2038		2,000		2,375
Series B, Rev., 5.00%, 07/01/2037		550		656
Series B, Rev., 5.00%, 07/01/2038		500		594
Great Lakes Water Authority, Sewage Disposal System, Second Lien, Series C, Rev., 5.00%, 07/01/2032		75		79
Great Lakes Water Authority, Sewage Disposal System, Senior Lien, Series B, Rev., 5.00%, 07/01/2030		3,200		3,345
Lansing Board of Water & Light, Series A, Rev., 5.00%, 07/01/2048		1,675		1,772
Michigan Finance Authority, Series A, Rev., 4.00%, 12/01/2049		1,000		954
Michigan Finance Authority, Aquinas College Project,
Rev., 5.00%, 05/01/2036		300		279
Rev., 5.00%, 05/01/2046		2,000		1,669
Michigan Finance Authority, Beaumont Health Credit Group, Rev., 5.00%, 11/01/2044		8,090		8,157
Michigan Finance Authority, Beaumont Spectrum,
Rev., 4.00%, 04/15/2042		2,500		2,493
Rev., 5.00%, 04/15/2030		3,000		3,380
Michigan Finance Authority, Beaumont Spectrum Consolidated, Rev., 4.00%, 04/15/2038		1,175		1,208
Michigan Finance Authority, Che Trinity Health, Rev., 4.00%, 12/01/2040 (p)		95		104
Michigan Finance Authority, Henry Ford Health System,
Rev., 5.00%, 11/15/2041		3,145		3,215
Series A, Rev., 5.00%, 11/15/2048		5,000		5,194
Michigan Finance Authority, Higher Educational Facilities Authority,
Rev., 5.00%, 09/01/2032		690		771
Rev., 5.00%, 09/01/2033		800		889
Rev., 5.00%, 09/01/2034		570		632
Rev., 5.00%, 09/01/2035		1,200		1,326
Michigan Finance Authority, Local Government Loan Program, Rev., 5.00%, 07/01/2044		4,000		4,005


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Michigan — continued
Michigan Finance Authority, Multi Modal McLaren Health Care,
Rev., 4.00%, 02/15/2044		9,625		9,421
Rev., 4.00%, 02/15/2047		3,000		2,886
Rev., 4.00%, 02/15/2050		2,500		2,361
Michigan Finance Authority, Senior Lien Great Lakes, Rev., 5.00%, 07/01/2033		5,000		5,027
Michigan Finance Authority, Senior Turbo, Series A2, Rev., 5.00%, 06/01/2040		1,655		1,744
Michigan Finance Authority, Sparrow Obligated Group, Rev., 5.00%, 11/15/2045 (p)		2,250		2,310
Michigan Finance Authority, Sparrow Obligation Group, Rev., 5.00%, 11/15/2045 (p)		2,750		2,824
Michigan Finance Authority, Trinity Health Credit Group, Rev., 5.00%, 12/01/2036		1,000		1,128
Michigan Finance Authority, Unrefunded Trinity Health Co., Rev., 5.00%, 12/01/2045		2,250		2,300
Michigan State Building Authority, Series I, Rev., 5.00%, 10/15/2027		2,500		2,736
Michigan State Building Authority, Facilities Program,
Series II, Rev., 4.00%, 10/15/2043		1,000		1,029
Series II, Rev., 5.00%, 10/15/2026		3,500		3,736
Series II, Rev., 5.00%, 10/15/2042		1,350		1,540
Michigan State Hospital Finance Authority, Hospital Trinity Health Credit, Series C, Rev., 5.00%, 12/01/2027		100		108
Michigan State Housing Development Authority,
Series A, Rev., 0.55%, 04/01/2025		375		357
Series C, Rev., 3.00%, 06/01/2051		2,010		1,958
Michigan State Housing Development Authority, Social Bond,
Series A, Rev., 3.00%, 06/01/2052		3,355		3,257
Series A, Rev., 5.00%, 06/01/2053		2,230		2,324
Michigan State Housing Development Authority, Social Bonds,
Series A, Rev., 5.50%, 12/01/2053		1,290		1,396
Series D, Rev., 5.50%, 06/01/2053		345		366
Michigan State University, Series C, Rev., 4.00%, 02/15/2039		2,000		2,045
Michigan Strategic Fund, Consumers Energy Co. Project, Rev., AMT, 0.88%, 04/01/2035 (z)		1,620		1,450
Michigan Strategic Fund, Detroit Edison Co. Exempt, Rev., 1.35%, 08/01/2029		3,450		3,036
Michigan Strategic Fund, Detroit Edison Company, Rev., 1.45%, 09/01/2030		810		698
Michigan Strategic Fund, Green Bond Recycling, Rev., AMT, 4.00%, 10/01/2061 (z)		1,685		1,662


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Michigan — continued
State of Michigan Trunk Line Revenue, State Trunk Line Fund Bonds, Rev., 4.00%, 11/15/2037		2,015		2,138
State of Michigan, Environmental Program Bonds, Series A, GO, 5.00%, 05/15/2030		400		463
State of Michigan, Gans Garvee, Rev., GAN, 5.00%, 03/15/2027		2,000		2,157
Troy School District, GO, Q-SBLF, 5.00%, 05/01/2039		1,025		1,185
Wayne County Airport Authority, Series F, Rev., AMT, 5.00%, 12/01/2034		1,470		1,493
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Series B, Rev., BAM, 5.00%, 12/01/2039		3,000		3,030


				141,135

Minnesota — 0.8%
City of Minneapolis, Allina Health System,
Series A, Rev., 5.00%, 11/15/2052 (z)		1,000		1,085
Series B, Rev., 5.00%, 11/15/2053 (z)		2,650		2,940
City of Minneapolis, St. Paul Housing & Redevelopment Authority, Allina Health System, Rev., 5.00%, 11/15/2026		2,000		2,124
County of Hennepin, Series C, GO, 5.00%, 12/15/2032		1,500		1,717
Duluth Economic Development Authority, Essentia Health Obligation Group, Rev., 5.25%, 02/15/2058		1,000		1,030
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Fairview Health Services, Series A, Rev., 5.00%, 11/15/2047		9,000		9,190
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Hope Community Academy Project, Series A, Rev., 5.00%, 12/01/2043		1,000		806
Housing & Redevelopment Authority of The City of St. Paul Minnesota, System Fairview Health Services, Series 2015, Rev., AGM-CR, 5.00%, 11/15/2047		4,500		4,650
Minneapolis St. Paul Metropolitan Airports Commission, Subordinate,
Series B, Rev., AMT, 5.00%, 01/01/2034		1,345		1,514
Series B, Rev., AMT, 5.25%, 01/01/2047		1,845		1,977
Minnesota Housing Finance Agency,
Series B, Rev., GNMA/FNMA/FHLMC, 2.63%, 01/01/2040		1,920		1,632
Series B, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		1,015		988
Series C, Rev., 5.00%, 08/01/2032		2,365		2,732
Series D, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,615		1,568
Series G, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2051		3,020		2,944


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Minnesota — continued
Series I, Rev., GNMA/FNMA/FHLMC, 2.80%, 12/01/2047		316		283
Series I, Rev., 3.00%, 01/01/2051		1,620		1,579
Minnesota Housing Finance Agency, Social Bond, Series H, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		390		378
Minnesota Housing Finance Agency, Social Bonds,
Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		1,095		1,058
Series F, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		240		233
Series F, Rev., GNMA/FNMA/FHLMC, 5.75%, 07/01/2053		405		437
Minnesota Housing Finance Agency, State Appropriation Bond Housing, Rev., 5.00%, 08/01/2029		1,245		1,397
Minnesota Housing Finance Agency, Sustainable Bonds, Series R, Rev., GNMA/FNMA/FHLMC, 6.25%, 07/01/2054		5,000		5,536
Minnesota Municipal Gas Agency, Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2052 (z)		4,370		4,397
Minnesota Office of Higher Education, Supplemental Student Loan, Rev., AMT, 4.00%, 11/01/2037		665		649
St. Paul Port Authority, Solid Gerdau St. Paul Steel Mill Project, Rev., AMT, 4.50%, 10/01/2037 (e)		4,500		4,330
State of Minnesota,
Series A, GO, 4.00%, 09/01/2037		690		729
Series A, GO, 5.00%, 08/01/2026		250		266
Series A, GO, 5.00%, 08/01/2028		1,000		1,117
Series A, GO, 5.00%, 10/01/2029		45		49
Series A, GO, 5.00%, 10/01/2032		1,000		1,095
Series A, GO, 5.00%, 08/01/2033		2,000		2,132
Series A, GO, 5.00%, 08/01/2034		2,000		2,228
Series E, GO, 3.00%, 08/01/2026		710		713


				65,503

Mississippi — 0.1%
Mississippi Business Finance Corp., System Energy Resources, Inc. Project, Rev., 2.38%, 06/01/2044		175		109
Mississippi Development Bank, Hinds County School District Project, Rev., 5.00%, 03/01/2048		1,360		1,416
Mississippi Home Corp., Social Bond, Series C, Rev., GNMA/FNMA/FHLMC COLL, 5.00%, 12/01/2052		175		182
Mississippi Home Corp., Southwest Village Apartments Project, Rev., HUD, 2.00%, 02/01/2025 (z)		2,970		2,964


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Mississippi — continued
Mississippi Hospital Equipment & Facilities Authority, Baptist Memorial Health Care, Rev., 5.00%, 09/01/2044 (z)		250		255


				4,926

Missouri — 0.6%
Cape Girardeau County Industrial Development Authority, Southeasthealth, Rev., 4.00%, 03/01/2041		870		873
Curators of the University of Missouri (The),
Series A, Rev., 4.00%, 11/01/2034		2,500		2,511
Series A, Rev., 4.00%, 11/01/2035		1,000		1,004
Health & Educational Facilities Authority of the State of Missouri, Series C, Rev., 5.00%, 05/01/2052 (z)		2,695		2,921
Health & Educational Facilities Authority of the State of Missouri, Luke’s Health System, Rev., 4.00%, 11/15/2038		2,000		2,030
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Service Projects, Series A, Rev., 5.00%, 02/01/2029		1,410		1,426
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Services, Rev., 4.00%, 02/01/2034		500		469
Kansas City Industrial Development Authority, Rev., AMT, 5.00%, 03/01/2032		900		970
Kansas City Industrial Development Authority, Kansas City International Airport,
Rev., AMT, 4.00%, 03/01/2036		1,250		1,268
Rev., AMT, 4.00%, 03/01/2040		2,500		2,489
Rev., AMT, 5.00%, 03/01/2029		3,050		3,279
Rev., AMT, 5.00%, 03/01/2038		2,480		2,586
Kansas City Industrial Development Authority, Kansas City International Airport, Rev., AMT, 5.00%, 03/01/2044		5,000		5,160
Kansas City Planned Industrial Expansion Authority, The Depot On Old Santa Fe, Rev., 5.00%, 07/01/2045 (z)		5,722		5,997
Missouri Development Finance Board, Procter & Gamble Paper Products, Rev., AMT, 5.20%, 03/15/2029		370		415
Missouri Housing Development Commission, First Place Homeownership Loan,
Rev., GNMA/FNMA/FHLMC, 3.00%, 05/01/2052		3,575		3,471
Rev., GNMA/FNMA/FHLMC, 3.25%, 11/01/2052		395		386
Rev., GNMA/FNMA/FHLMC, 6.50%, 05/01/2054		2,695		3,079
Series D, Rev., GNMA/FNMA/FHLMC, 3.25%, 05/01/2051		5		5


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Missouri — continued
Missouri State Environmental Improvement & Energy Resources Authority, Union Electric Company Project, Series AR, Rev., 2.90%, 09/01/2033		2,000		1,898
Plaza at Noah’s Ark Community Improvement District, Rev., 3.00%, 05/01/2030		575		521
St. Louis Municipal Finance Corp., Convention Center Expansion, Rev., AGM, 5.00%, 10/01/2045		3,215		3,438


				46,196

Montana — 0.1%
City of Forsyth, Northwestern Corp. Colstrip, Rev., 3.88%, 07/01/2028		3,275		3,343
Montana Board of Housing,
Rev., 3.00%, 12/01/2050		2,595		2,532
Series A, Rev., 3.00%, 06/01/2052		340		329
Series B2, Rev., AMT, 3.50%, 12/01/2042		205		203
Series B, Rev., 3.00%, 12/01/2051		1,110		1,081
Series C, Rev., 6.25%, 06/01/2054		1,440		1,594
Montana Facility Finance Authority, Rev., 5.00%, 02/15/2033		1,000		1,044


				10,126

Nebraska — 0.5%
Central Plains Energy Project,
Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2049 (z)		15,845		15,932
Series 1, Rev., 5.00%, 05/01/2053 (z)		3,915		4,126
Central Plains Energy Project, Project #4, Series A1, Rev., 5.00%, 05/01/2054 (z)		2,675		2,836
County of Douglas, Creighton University Project, Rev., (SIFMA Municipal Swap Index + 0.53%), 4.40%, 07/01/2035 (aa)		2,210		2,174
County of Washington, Cargill, Inc. Project, Rev., AMT, 0.90%, 09/01/2030 (z)		350		337
Douglas County Hospital Authority No. 2, Children’s Hospital Obligation, Rev., 4.00%, 11/15/2038		1,125		1,143
Douglas County Hospital Authority No. 2, Health Facilities Children’s Hospital, Rev., 5.00%, 11/15/2047		3,000		3,087
Douglas County Hospital Authority No. 2, Madonna Rehabilitation Hospital, Rev., 4.00%, 05/15/2033		2,100		2,073
Douglas County, Hospital Authority No. 2, Children’s Hospital Obligated Group, Rev., 5.00%, 11/15/2053 (z)		2,190		2,245
Nebraska Educational Health Cultural & Social Services Finance Authority, Immanuel Obligated Group, Rev., 4.00%, 01/01/2037		1,000		1,022


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Nebraska — continued
Nebraska Public Power District, Series A, Rev., 5.00%, 07/01/2028		300		329
University of Nebraska, University of Nebraska Lincoln Student, Rev., 3.00%, 07/01/2035 (p)		1,030		1,040


				36,344

Nevada — 1.0%
City of Carson City, Carson Tahoe Regional Medical Center, Rev., 5.00%, 09/01/2047		1,000		1,015
City of Las Vegas Special Improvement District No. 612 Skye Hills, Special Assessment, 3.50%, 06/01/2035		205		173
City of Las Vegas Special Improvement District No. 817 Summerlin Village 29, Special Improvement No. 817, Summerlin Village,
Special Assessment, 5.50%, 06/01/2038		400		414
Special Assessment, 5.75%, 06/01/2043		500		518
City of North Las Vegas, GO, BAM, 5.00%, 06/01/2027		2,000		2,159
Clark County School District,
Series A, GO, AGM, 4.00%, 06/15/2040		1,375		1,406
Series B, GO, 5.00%, 06/15/2030		1,445		1,649
Series C, GO, 5.00%, 06/15/2026		1,250		1,317
Clark County School District, Building,
Series A, GO, 5.00%, 06/15/2029		500		549
Series B, GO, AGM-CR, 5.00%, 06/15/2033		3,000		3,314
County of Clark, GO, 4.00%, 06/01/2038		4,300		4,384
County of Clark Department of Aviation, Airport Systems, Subordinate, Rev., 5.00%, 07/01/2033		1,010		1,186
County of Clark Department of Aviation, Jet Aviation Fuel Tax, Rev., AMT, 5.00%, 07/01/2025		1,625		1,665
County of Clark Department of Aviation, Subordinate, Series B, Rev., AMT, 5.00%, 07/01/2027		6,000		6,349
County of Clark Department of Aviation, System Senior, Series A, Rev., 5.00%, 07/01/2040		2,000		2,031
County of Clark Passenger Facility Charge Revenue, McCarran International,
Rev., 5.00%, 07/01/2029		5,000		5,660
Rev., 5.00%, 07/01/2031		1,950		2,205
Rev., 5.00%, 07/01/2032		2,385		2,695
County of Clark, Detention Center, GO, 4.00%, 06/01/2034		3,335		3,522
County of Clark, Passenger Facility Charge Revenue, Las Vegas McCarran International Airport, Rev., 5.00%, 07/01/2030		1,425		1,612


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Nevada — continued
County of Clark, Southern CA Edison Company, Rev., 2.10%, 06/01/2031		1,000		861
County of Clark, Streets and Highway Project, Rev., 4.00%, 07/01/2043		4,465		4,549
Las Vegas Convention & Visitors Authority,
Series A, Rev., 5.00%, 07/01/2027		900		970
Series A, Rev., 5.00%, 07/01/2028		1,250		1,375
Series A, Rev., 5.00%, 07/01/2040		250		284
Series B, Rev., 5.00%, 07/01/2029		1,345		1,506
Series B, Rev., 5.00%, 07/01/2034		1,275		1,494
Series B, Rev., 5.00%, 07/01/2038		1,000		1,135
Series B, Rev., 5.00%, 07/01/2043		5,150		5,474
Las Vegas Valley Water District,
Series A, GO, 5.00%, 06/01/2026		1,500		1,586
Series C, GO, 5.00%, 06/01/2032		1,560		1,863
Series D, GO, 5.00%, 06/01/2027		2,025		2,195
Las Vegas Valley Water District, Water Improvement, Series A, GO, 5.00%, 06/01/2046		5,000		5,144
State of Nevada Department of Business & Industry, Brightline West Passenger Rail, Rev., AMT, 3.70%, 01/01/2050 (e) (z)		915		914
State of Nevada Department of Business & Industry, Republic Services Project, Rev., AMT, 4.50%, 12/01/2026 (e) (z)		4,300		4,303


				77,476

New Hampshire — 0.3%
New Hampshire Business Finance Authority, Municipal Certificates, Series 1A, Rev., 4.13%, 01/20/2034		941		931
New Hampshire Business Finance Authority, Sustainable Bond, Series 2022-1, Rev., 4.38%, 09/20/2036		651		658
New Hampshire Business Finance Authority, Caritas Oregon Project, Series A, Rev., 4.13%, 08/15/2040 (e)		2,000		1,730
New Hampshire Business Finance Authority, Presbyterian Senior Living Project, Rev., 5.25%, 07/01/2048		750		767
New Hampshire Business Finance Authority, Saint Luke’s University Health, Rev., 4.00%, 08/15/2036		720		730
New Hampshire Business Finance Authority, Springpoint Senior Living,
Rev., 4.00%, 01/01/2026		270		266
Rev., 4.00%, 01/01/2027		250		244
Rev., 4.00%, 01/01/2028		290		281
Rev., 4.00%, 01/01/2029		300		288
Rev., 4.00%, 01/01/2030		280		266
Rev., 4.00%, 01/01/2031		290		272
New Hampshire Business Finance Authority, Taxable Virginia Birmingham Care Center, Rev., 3.78%, 01/01/2036		2,000		1,568


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New Hampshire — continued
New Hampshire Business Finance Authority, University of Nevada, Reno Project, Rev., BAM, 5.25%, 06/01/2051		1,875		2,078
New Hampshire Business Finance Authority, Waste Management, Inc. Project, Rev., AMT, (SIFMA Municipal Swap Index + 0.38%), 4.25%, 10/01/2033 (aa)		4,170		4,148
New Hampshire Health and Education Facilities Authority Act, Series B, Rev., AMT, 5.00%, 11/01/2043		1,430		1,560
New Hampshire Health and Education Facilities Authority Act, Dartmouth Hitchcock Obligation, Rev., BAM, 4.00%, 08/01/2033		5,000		5,007
New Hampshire Housing Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC COLL, 6.00%, 07/01/2053		435		470
New Hampshire Housing Finance Authority, Sustainable Bonds, Series D, Rev., GNMA/FNMA/FHLMC, 6.50%, 07/01/2055		2,090		2,336


				23,600

New Jersey — 2.7%
Camden County Improvement Authority, Social Bonds, KIPP Cooper Norcross Academy,
Rev., 6.00%, 06/15/2042		530		591
Rev., 6.00%, 06/15/2047		1,000		1,099
City of Bayonne, Qualified General Improvement, GO, BAM, 5.00%, 07/01/2034 (p)		1,000		1,057
City of Newark, Series A, GO, AGM, 5.00%, 10/01/2028		750		822
Garden State Preservation Trust, Capital Appreciation, Series B, Rev., AGM, Zero Coupon, 11/01/2026		1,000		919
Gloucester County Improvement Authority, The Rowan University Fossil Park,
Rev., BAM, 4.00%, 07/01/2046		725		726
Rev., BAM, 4.00%, 07/01/2051		1,000		981
New Brunswick Parking Authority, City Guaranteed Parking, Series A, Rev., BAM, 5.00%, 09/01/2026		1,000		1,057
New Jersey Economic Development Authority,
Rev., 5.00%, 03/01/2028		785		858
Series A, Rev., 5.00%, 11/01/2027		2,500		2,713
Series AAA, Rev., 5.00%, 06/15/2036		1,000		1,044
Series AAA, Rev., 5.00%, 06/15/2041 (p)		500		536
Series AAA, Rev., 5.50%, 06/15/2028		5,000		5,349
Series AAA, Rev., 5.50%, 06/15/2032 (p)		2,000		2,173
Series BBB, Rev., 5.50%, 06/15/2030 (p)		1,225		1,331


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New Jersey — continued
Series DDD, Rev., 5.00%, 06/15/2031 (p)		2,000		2,165
Series WW, Rev., 5.00%, 06/15/2034 (p)		1,500		1,547
Series WW, Rev., 5.25%, 06/15/2030 (p)		1,000		1,035
New Jersey Economic Development Authority, Higher Education Capital Improvement Fund, Series A, Rev., 5.00%, 09/01/2025		245		248
New Jersey Economic Development Authority, New Jersey American Water Company, Inc.,
Rev., AMT, 1.10%, 11/01/2029 (z)		2,610		2,313
Series E, Rev., AMT, 0.85%, 12/01/2025		1,940		1,805
New Jersey Economic Development Authority, Port Newark Container, Rev., AMT, 5.00%, 10/01/2037		1,000		1,019
New Jersey Economic Development Authority, Portal North Bridge NJ Transit,
Rev., 5.00%, 11/01/2038		5,345		6,055
Rev., 5.00%, 11/01/2052		6,190		6,650
Rev., 5.25%, 11/01/2041		6,000		6,822
New Jersey Economic Development Authority, School Facilities Construction,
Series EEE, Rev., 5.00%, 06/15/2032		1,500		1,648
Series GGG, Rev., 5.25%, 09/01/2026 (e)		8,000		8,512
New Jersey Economic Development Authority, Self Designated Social Bonds,
Series QQQ, Rev., 5.00%, 06/15/2026		555		584
Series QQQ, Rev., 5.00%, 06/15/2027		410		441
Series QQQ, Rev., 5.00%, 06/15/2028		400		440
New Jersey Economic Development Authority, State House Project,
Series B, Rev., 5.00%, 06/15/2027		10,690		11,507
Series B, Rev., 5.00%, 06/15/2028		8,635		9,496
New Jersey Economic Development Authority, Sustainable Bonds, Series QQQ, Rev., 4.00%, 06/15/2037		2,400		2,478
New Jersey Educational Facilities Authority, Higher Education Capital Improvement Fund Issue,
Rev., 5.00%, 09/01/2038		1,000		1,138
Rev., 5.00%, 09/01/2040		2,200		2,481
New Jersey Educational Facilities Authority, Montclair State University, Series D, Rev., 5.00%, 07/01/2028		2,000		2,055
New Jersey Educational Facilities Authority, Princeton University,
Series A, Rev., 4.00%, 07/01/2028		1,860		1,866
Series I, Rev., 5.00%, 07/01/2036		1,015		1,100
New Jersey Educational Facilities Authority, Ramapo College of New Jersey, Series A, Rev., AGM, 5.00%, 07/01/2035		200		233
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligated, Rev., 5.00%, 07/01/2032		2,070		2,370


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New Jersey — continued
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligation, Rev., 3.00%, 07/01/2051		1,715		1,328
New Jersey Higher Education Student Assistance Authority,
Series B, Rev., AMT, 5.00%, 12/01/2024		570		577
Series B, Rev., AMT, 5.00%, 12/01/2027		1,340		1,415
Series B, Rev., AMT, 5.00%, 12/01/2028		1,480		1,585
Series B, Rev., AMT, 5.00%, 12/01/2029		1,440		1,558
New Jersey Higher Education Student Assistance Authority, Senior,
Series 2015-1A, Rev., AMT, 4.00%, 12/01/2030		800		791
Series A, Rev., AMT, 3.50%, 12/01/2039		105		101
Series B, Rev., AMT, 4.00%, 12/01/2041		250		247
Series B, Rev., AMT, 4.00%, 12/01/2044		2,200		2,198
New Jersey Higher Education Student Assistance Authority, Senior Bonds, Series B, Rev., AMT, 5.00%, 12/01/2024		300		304
New Jersey Higher Education Student Assistance Authority, Subordinated, Series C, Rev., AMT, 4.00%, 12/01/2048		1,195		1,122
New Jersey Housing & Mortgage Finance Agency, Series E, Rev., 3.50%, 04/01/2051		2,165		2,133
New Jersey Housing & Mortgage Finance Agency, Social Bond, Rev., 5.00%, 10/01/2053		195		203
New Jersey Housing & Mortgage Finance Agency, Social Bonds, Series H, Rev., 3.00%, 10/01/2052		770		743
New Jersey Transportation Trust Fund Authority,
Series A, Rev., 5.00%, 06/15/2029		1,550		1,738
Series A, Rev., 5.00%, 06/15/2030		3,000		3,427
Series AA, Rev., 4.00%, 06/15/2040		3,750		3,810
Series AA, Rev., 5.00%, 06/15/2029		1,000		1,123
Series AA, Rev., 5.00%, 06/15/2035		3,000		3,475
Series AA, Rev., 5.00%, 06/15/2045		660		712
Series BB, Rev., 5.00%, 06/15/2032		2,000		2,207
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Series A, Rev., BAM, Zero Coupon, 12/15/2038		1,000		585
New Jersey Transportation Trust Fund Authority, Program B,
Rev., 5.00%, 06/15/2037		2,000		2,302
Rev., 5.25%, 06/15/2046		14,455		16,067
New Jersey Transportation Trust Fund Authority, Transportation Program,
Series BB, Rev., 5.00%, 06/15/2036		3,000		3,522
Series BB, Rev., 5.00%, 06/15/2037		2,745		3,198
Series BB, Rev., 5.00%, 06/15/2038		4,000		4,620
Series BB, Rev., 5.00%, 06/15/2040		8,120		9,247


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New Jersey — continued
New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Rev., 5.00%, 06/15/2035		500		575
New Jersey Transportation Trust Fund Authority, Transportation System, Series A, Rev., 5.00%, 06/15/2038		500		574
New Jersey Transportation Trust Fund Authority, Transportation System Bond,
Rev., 4.00%, 12/15/2039		2,000		2,031
Rev., 5.00%, 12/15/2028		1,000		1,113
Rev., 5.00%, 12/15/2031		1,560		1,758
New Jersey Turnpike Authority,
Series A, Rev., 4.00%, 01/01/2042		1,000		1,013
Series B, Rev., 4.50%, 01/01/2048		1,750		1,812
Series D, Rev., 5.00%, 01/01/2028		2,400		2,531
Series E, Rev., 5.00%, 01/01/2032		7,000		7,133
Newark Board of Education, Sustainability Bonds,
GO, BAM, 4.00%, 07/15/2034		400		425
GO, BAM, 4.00%, 07/15/2035		410		434
GO, BAM, 4.00%, 07/15/2036		425		446
GO, BAM, 4.00%, 07/15/2037		430		448
North Hudson Sewerage Authority, Senior Lien Lease Certificates,
Rev., AGM, 5.00%, 06/01/2039		1,100		1,293
Rev., AGM, 5.00%, 06/01/2040		1,100		1,285
Rev., AGM, 5.00%, 06/01/2041		1,000		1,173
Rev., AGM, 5.00%, 06/01/2042		1,000		1,179
South Jersey Port Corp., Marine Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2025		500		507
Series B, Rev., AMT, 5.00%, 01/01/2026		1,015		1,047
South Jersey Port Corp., Marine Terminal, Subordinated, Series B, Rev., AMT, 5.00%, 01/01/2037		1,000		1,049
South Jersey Port Corp., Subordinate Marine Term, Series B, Rev., AMT, 5.00%, 01/01/2032		2,140		2,277
South Jersey Port Corp., Subordinate, Marine Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2033		1,220		1,296
Series B, Rev., AMT, 5.00%, 01/01/2034		1,250		1,325
Series B, Rev., AMT, 5.00%, 01/01/2036		1,000		1,052
South Jersey Transportation Authority,
Series A, Rev., AGM, 5.00%, 11/01/2030		500		553
Series A, Rev., AGM, 5.00%, 11/01/2033		1,215		1,343
Series A, Rev., BAM, 5.00%, 11/01/2041		2,925		3,146
South Jersey Transportation Authority, Transportation System, Rev., BAM, 5.25%, 11/01/2052		3,100		3,380
State of New Jersey, Covid-19 Emergency Bonds, General Obligations,
Series A, GO, 4.00%, 06/01/2030		2,000		2,164
Series A, GO, 5.00%, 06/01/2028		4,245		4,695


				216,659


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New Mexico — 0.3%
Albuquerque Municipal School District No. 12, Series A, GO, 5.00%, 08/01/2024		250		253
City of Farmington, Four Corners Project, Rev., 1.80%, 04/01/2029		3,000		2,684
City of Farmington, Pollution Control Revenue, Public Service Company, New Mexico Sanitary, Series E, Rev., 1.15%, 06/01/2040 (z)		1,000		986
City of Farmington, Public Service Company, San Juan, Rev., 3.90%, 06/01/2040 (z)		1,000		1,013
City of Farmington, San Juan and Four Corners, Rev., 2.15%, 04/01/2033		4,890		4,041
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 2.05%, 09/01/2051		580		522
New Mexico Finance Authority, Senior Lien Public Project, Series C, Rev., 4.00%, 06/01/2028		1,070		1,102
New Mexico Finance Authority, Subordinated Lien, Public Project Revolving Fund, Rev., 5.00%, 06/15/2024		1,000		1,009
New Mexico Hospital Equipment Loan Council,
Rev., 5.00%, 06/01/2030		1,050		1,148
Rev., 5.00%, 06/01/2032		1,000		1,080
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare, Rev., 4.00%, 08/01/2037		500		509
New Mexico Mortgage Finance Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,190		1,154
New Mexico Mortgage Finance Authority, Single Family Mortgage Program,
Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 03/01/2054		615		670
Series C, Rev., GNMA/FNMA/FHLMC, 4.00%, 01/01/2049		170		170
New Mexico Municipal Energy Acquisition Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 11/01/2039 (z)		3,500		3,558
Santa Fe Public School District, GO, 5.00%, 08/01/2029		1,375		1,516
Winrock Town Center Tax Increment Development District No 1, Senior Lien, Tax Allocation, 4.25%, 05/01/2040 (e)		1,750		1,509


				22,924

New York — 11.4%
Battery Park City Authority, Series B, Rev., 5.00%, 11/01/2036		2,000		2,417
Broome County, Local Development Corp., United Health Services Hospital,
Rev., AGM, 4.00%, 04/01/2039		2,750		2,779


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
Rev., AGM, 5.00%, 04/01/2026		500		520
Build NYC Resource Corp., Family Life Academy Charter Project, Rev., 7.25%, 06/01/2055 (e)		250		264
Build NYC Resource Corp., Rev., 5.00%, 07/01/2026		325		332
Build NYC Resource Corp., Academic Leadership Charter School, Rev., 4.00%, 06/15/2024		70		70
Build NYC Resource Corp., Family Life Academy Charter, Series A1, Rev., 5.25%, 06/01/2040 (e)		1,220		1,154
Build NYC Resource Corp., Friends of Hellenic Classical, Series A, Rev., 4.00%, 12/01/2031 (e)		700		645
Build NYC Resource Corp., Grand Concourse Academy Charter School,
Rev., 5.00%, 07/01/2042		555		572
Rev., 5.00%, 07/01/2052		700		708
City of Long Beach,
Series A, GO, 5.00%, 09/01/2025		1,990		2,038
Series A, GO, 5.00%, 09/01/2027		1,500		1,580
City of New York,
Series 1I, GO, 5.00%, 03/01/2026		360		361
Series A1, GO, 4.00%, 08/01/2034		3,000		3,233
Series A1, GO, 4.00%, 08/01/2036		1,000		1,071
Series A1, GO, 5.00%, 08/01/2029		2,900		3,302
Series A1, GO, 5.00%, 09/01/2034		2,000		2,395
Series A1, GO, 5.00%, 08/01/2041		3,000		3,269
Series A1, GO, 5.25%, 09/01/2042		8,715		10,047
Series B1, GO, 5.00%, 08/01/2031		1,000		1,181
Series B1, GO, 5.00%, 10/01/2031		500		592
Series B1, GO, 5.00%, 08/01/2035		90		107
Series C1, GO, 5.00%, 08/01/2031		500		580
Series C, GO, 5.00%, 08/01/2027		2,000		2,176
Series D1, GO, 5.00%, 12/01/2024		150		153
Series D1, GO, 5.00%, 12/01/2031		1,380		1,534
Series D1, GO, 5.00%, 12/01/2036		11,955		13,107
Series D1, GO, 5.00%, 12/01/2044		2,560		2,745
Series E, GO, 5.00%, 08/01/2028		1,625		1,812
Series E, GO, 5.00%, 08/01/2033		2,000		2,241
Series F1, GO, 3.00%, 03/01/2035		2,135		2,105
Series F1, GO, 5.00%, 03/01/2043		1,000		1,108
City of New York, Fiscal 2001,
Series 2, GO, VRDO, 4.15%, 01/05/2024 (z)		7,045		7,045
Series 3, GO, VRDO, 4.15%, 01/05/2024 (z)		1,590		1,590
City of New York, Fiscal 2015, Series F4, GO, 5.00%, 06/01/2044 (z)		125		128
City of New York, Fiscal 2020, Series B1, GO, 5.00%, 10/01/2038		5,000		5,526
City of New York, Fiscal 2021,
Series C, GO, 4.00%, 08/01/2037		450		474
Series C, GO, 5.00%, 08/01/2033		2,000		2,312


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New York — continued
Series C, GO, 5.00%, 08/01/2035		4,740		5,449
City of New York, Fiscal 2022,
GO, 5.25%, 05/01/2039		200		233
GO, 5.25%, 05/01/2041		2,000		2,306
GO, 5.50%, 05/01/2044		1,000		1,165
City of New York, Fiscal 2022 Subordinated, Series D3, GO, VRDO, 4.00%, 01/02/2024 (z)		10,000		10,000
City of New York, Fiscal 2023, Series A3, GO, VRDO, 4.00%, 01/02/2024 (z)		12,900		12,900
City of New York, Fiscal 2024, Series A, GO, 5.00%, 08/01/2028		360		401
City of New York, Subordinated,
Series E1, GO, 4.00%, 04/01/2050		8,500		8,515
Series F1, GO, 5.00%, 08/01/2025		390		404
Series F1, GO, 5.00%, 08/01/2027		1,750		1,905
Series F1, GO, 5.00%, 08/01/2028		350		390
City of Yonkers,
Series F, GO, BAM, 5.00%, 11/15/2038		500		579
Series F, GO, BAM, 5.00%, 11/15/2039		1,000		1,149
County of Nassau,
Series A, GO, AGM, 4.00%, 04/01/2046		1,300		1,317
Series B, GO, BAM, 5.00%, 10/01/2027		1,450		1,543
Dutchess County, Local Development Corp., Health Quest System, Inc. Project, Series B, Rev., 5.00%, 07/01/2046		1,250		1,251
Genesee County Funding Corp. (The), Rochester Regional Health Obligation, Rev., 5.25%, 12/01/2052		2,000		2,113
Hempstead Town Local Development Corp., Evergreen Charter School Project, Series A, Rev., 5.25%, 06/15/2042		4,000		3,991
Hudson Yards Infrastructure Corp.,
Series A, Rev., AGM, 4.00%, 02/15/2047		9,335		9,346
Series A, Rev., 5.00%, 02/15/2045		2,210		2,303
Long Island Power Authority,
Rev., 5.00%, 09/01/2042		2,070		2,178
Series A, Rev., 5.00%, 09/01/2037		1,250		1,424
Series B, Rev., 1.50%, 09/01/2051 (z)		5,700		5,385
Long Island Power Authority, Green Bond, Series E, Rev., 5.00%, 09/01/2048		2,440		2,737
Long Island Power Authority, Notes, Rev., 1.00%, 09/01/2025		2,680		2,549
Metropolitan Transportation Authority,
Rev., AGM, (United States SOFR * 0.67 + 0.55%), 4.16%, 11/01/2032 (aa)		1,770		1,770
Rev., AGM, (United States SOFR * 0.67 + 0.80%), 4.41%, 11/01/2032 (aa)		430		428
Series A1, Rev., 5.00%, 11/15/2044		4,500		4,501
Series A, Rev., 5.25%, 11/15/2030		3,025		3,205
Series A, Rev., 5.25%, 11/15/2034		8,000		8,465
Series B, Rev., 5.00%, 11/15/2024		340		346
Series B, Rev., 5.00%, 11/15/2025		540		561
Series B, Rev., 5.00%, 11/15/2040		2,450		2,474
Series C1, Rev., 5.00%, 11/15/2056		3,100		3,131


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
Series D, Rev., 5.00%, 11/15/2027		1,200		1,254
Series D, Rev., 5.00%, 11/15/2038		600		600
Metropolitan Transportation Authority, Build America Bonds, Rev., 6.67%, 11/15/2039		2,500		2,755
Metropolitan Transportation Authority, Green Bond,
Series A1, Rev., AGM, 4.00%, 11/15/2054		2,000		1,928
Series A2, Rev., 5.00%, 11/15/2027		1,085		1,134
Series C2, Rev., Zero Coupon, 11/15/2032		500		375
Series C, Rev., 5.00%, 11/15/2040		2,465		2,621
Series D, Rev., 5.00%, 11/15/2034 (z)		5,000		5,059
Series E, Rev., 4.00%, 11/15/2045		60		59
Series E, Rev., 5.00%, 11/15/2029		250		278
Metropolitan Transportation Authority, Green Bonds,
Series A2, Rev., 5.00%, 11/15/2025		1,000		1,039
Series B1, Rev., 5.00%, 11/15/2046		2,000		2,051
Series D1, Rev., 5.00%, 11/15/2043		2,000		2,128
Series D3, Rev., 4.00%, 11/15/2049		1,000		955
Metropolitan Transportation Authority, Green Bonds, Subordinated, Series B1, Rev., 5.00%, 11/15/2036		10,000		10,447
Metropolitan Transportation Authority, Sustainable Bond, Series E, Rev., 5.00%, 11/15/2033		2,400		2,694
Metropolitan Transportation Authority, Transportation,
Series A1, Rev., 5.25%, 11/15/2039		1,000		1,001
Series B, Rev., 5.25%, 11/15/2037		4,795		4,810
Series C1, Rev., 5.00%, 11/15/2026		305		314
Metropolitan Transportation Authority, Transportation Green Bonds, Series B, Rev., 5.00%, 11/15/2026		1,720		1,821
Monroe County Industrial Development Corp., Andrews Terrace Community,
Rev., HUD, 5.00%, 07/01/2028 (z)		2,825		2,972
Rev., HUD, 5.00%, 07/01/2028 (w) (z)		1,090		1,134
Monroe County Industrial Development Corp., Rochester Regional Health Project,
Rev., 5.00%, 12/01/2027		1,000		1,052
Rev., 5.00%, 12/01/2028		1,700		1,812
Rev., 5.00%, 12/01/2029		1,900		2,038
Monroe County Industrial Development Corp., University of Rochester Project, Series A, Rev., 5.00%, 07/01/2053		13,650		15,066
MTA Hudson Rail Yards Trust Obligations,
Series A, Rev., 5.00%, 11/15/2051		5,000		5,000
Series A, Rev., 5.00%, 11/15/2056		2,000		2,000
New York City Health and Hospitals Corp.,
Series A, Rev., 5.00%, 02/15/2024		270		271
Series A, Rev., 5.00%, 02/15/2026		6,055		6,333
Series A, Rev., 5.00%, 02/15/2027		5,360		5,745


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New York — continued
Series A, Rev., 5.00%, 02/15/2029		2,485		2,785
New York City Housing Development Corp., Sustainability Bonds,
Rev., 0.70%, 11/01/2060 (z)		2,500		2,386
Series C2, Rev., 0.70%, 11/01/2060 (z)		1,790		1,698
New York City Housing Development Corp., Sustainable Bond, Series E2, Rev., 3.80%, 11/01/2063 (z)		1,300		1,308
New York City Housing Development Corp., Sustainable Development Bonds, Series D2, Rev., FHA, 0.70%, 05/01/2060 (z)		1,000		967
New York City Industrial Development Agency, Queens Baseball Stadium Project,
Rev., AGM, 3.00%, 01/01/2040		250		218
Series A, Rev., AGM, 4.00%, 01/01/2032		1,000		1,059
Series A, Rev., AGM, 5.00%, 01/01/2025		250		255
Series A, Rev., AGM, 5.00%, 01/01/2027		625		661
Series A, Rev., AGM, 5.00%, 01/01/2029		1,000		1,097
Series A, Rev., AGM, 5.00%, 01/01/2030		1,500		1,671
New York City Industrial Development Agency, Yankee Stadium Project Pilot,
Rev., AGM, 4.00%, 03/01/2045		8,825		8,760
Rev., AGM, 5.00%, 03/01/2028		1,250		1,353
Rev., AGM, 5.00%, 03/01/2029		1,500		1,654
Rev., AGM, 5.00%, 03/01/2030		3,900		4,360
New York City Municipal Water Finance Authority,
Series CC1, Rev., 4.00%, 06/15/2052		5,000		4,954
Series DD, Rev., 5.00%, 06/15/2034		1,920		2,354
New York City Municipal Water Finance Authority, Second General Resolution,
Rev., VRDO, 4.00%, 01/02/2024 (z)		8,000		8,000
Rev., VRDO, 4.05%, 01/02/2024 (z)		15,700		15,700
Series CC1, Rev., 5.00%, 06/15/2049		5,000		5,372
Series DD, Rev., 5.00%, 06/15/2036		665		668
New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2015, Subordinate, Series S, Rev., 5.00%, 07/15/2040		17,800		18,139
New York City Transitional Finance Authority Building Aid Revenue, Fiscal Year 2015, Series S1, Rev., 5.00%, 07/15/2035		585		594
New York City Transitional Finance Authority Building Aid Revenue, Subordinate,
Series S1, Rev., 4.00%, 07/15/2034		1,000		1,097
Series S1, Rev., 5.00%, 07/15/2031		1,590		1,875
Series S1, Rev., 5.00%, 07/15/2043		1,505		1,536
New York City Transitional Finance Authority Building Aid Revenue, Subordinate Fiscal 2015, Series S, Rev., 5.00%, 07/15/2028		2,060		2,104
New York City Transitional Finance Authority Future Tax Secured, Rev., 5.00%, 08/01/2029		1,000		1,139


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
New York City Transitional Finance Authority Future Tax Secured Revenue,
Rev., 5.00%, 11/01/2028		600		673
Series A1, Rev., 5.00%, 11/01/2031		1,725		2,050
Series E1, Rev., 3.00%, 02/01/2028		730		743
Series F1, Rev., 5.00%, 02/01/2039		3,000		3,440
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured, Rev., 4.00%, 11/01/2035		7,000		7,530
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured Subordinate, Series B1, Rev., 5.00%, 08/01/2038		1,000		1,039
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Subordinated, Series A3, Rev., 4.00%, 08/01/2042		2,500		2,488
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate,
Rev., 4.00%, 05/01/2038		2,000		2,106
Rev., 5.00%, 11/01/2025		255		266
Series B1, Rev., 4.00%, 08/01/2036		7,415		7,966
Series DS, Rev., 4.00%, 11/01/2038		4,000		4,209
Series E1, Rev., 4.00%, 02/01/2046		2,000		2,003
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate Future Tax Secured, Rev., 4.00%, 11/01/2040		5,000		5,095
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate Multi Modal, Series A, Rev., 5.00%, 05/01/2040		1,000		1,159
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate, Future Tax Secured, Rev., 3.75%, 11/01/2025		8,000		7,851
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated,
Rev., 5.00%, 11/01/2026		1,000		1,069
Rev., 5.00%, 05/01/2031		1,000		1,169
Rev., 5.25%, 08/01/2042		3,000		3,464
Series A3, Rev., 4.00%, 05/01/2042		2,000		2,024
Series A3, Rev., 5.00%, 08/01/2040		1,720		1,818
New York City Transitional Finance Authority Future Tax Secured Revenue, Taxable Subordinate, Series F2, Rev., 2.85%, 05/01/2025		6,600		6,437
New York City Transitional Finance Authority, Multi Modal Bonds Subordinate, Rev., 5.00%, 05/01/2039		1,500		1,761
New York City Transitional Finance Authority, Subordinate,
Series D1, Rev., 5.00%, 11/01/2034 (w)		4,410		5,466


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New York — continued
Series D1, Rev., 5.00%, 11/01/2037 (w)		715		860
Series D1, Rev., 5.00%, 11/01/2039 (w)		3,000		3,544
New York City Trust for Cultural Resources, Refunding Lincoln Center, Series A, Rev., 5.00%, 12/01/2032		500		571
New York City Water & Sewer System,
Series AA2, Rev., 5.00%, 06/15/2029		1,350		1,542
Series BB1, Rev., 5.00%, 06/15/2049		500		537
Series FF, Rev., 5.00%, 06/15/2041		2,000		2,220
Series GG1, Rev., 5.00%, 06/15/2030		1,000		1,166
Series GG, Rev., 5.00%, 06/15/2039		2,660		2,707
New York City Water & Sewer System, Second General Resolution,
Rev., 5.00%, 06/15/2026		1,005		1,067
Rev., 5.00%, 06/15/2029		535		611
Series CC1, Rev., 5.00%, 06/15/2048		2,730		2,855
Series CC1, Rev., 5.25%, 06/15/2037		2,345		2,501
Series DD1, Rev., 5.00%, 06/15/2048		3,115		3,281
Series DD2, Rev., 5.00%, 06/15/2040		2,000		2,134
Series DD, Rev., 5.00%, 06/15/2047		6,680		6,937
New York City Water & Sewer System, Various Second General Resolution, Series BB4, Rev., VRDO, 4.10%, 01/02/2024 (z)		2,000		2,000
New York City Water & Sewer System, Water and Sewer System Revenue Second General Resolution, Series BB2, Rev., 4.00%, 06/15/2042		1,180		1,198
New York Liberty Development Corp.,
Series 1WTC, Rev., 3.00%, 02/15/2042		1,755		1,537
Series 1WTC, Rev., 4.00%, 02/15/2043		1,000		1,007
New York Liberty Development Corp., 3 World Trade Center, Rev., 5.38%, 11/15/2040 (e)		500		501
New York Liberty Development Corp., 7 World Trade Center Project, Rev., 3.13%, 09/15/2050		3,000		2,418
New York Liberty Development Corp., World Trade Center Project, Series 1, Rev., 5.00%, 11/15/2044 (e)		17,400		17,243
New York Power Authority, Green Transmission Project,
Rev., AGM, 4.00%, 11/15/2036		145		153
Rev., AGM, 5.00%, 11/15/2028		1,000		1,116
Rev., AGM, 5.00%, 11/15/2034		635		748
Rev., AGM, 5.00%, 11/15/2035		1,250		1,466
New York State Dormitory Authority,
Series A1, Rev., 5.00%, 03/15/2036		2,500		3,007
Series A, Rev., 4.00%, 03/15/2039		1,000		1,039
Series A, Rev., 5.00%, 03/15/2024 (p)		100		101
Series A, Rev., 5.00%, 03/15/2029		3,000		3,393
Series A, Rev., 5.00%, 03/15/2034		2,000		2,107
Series A, Rev., 5.00%, 03/15/2040		1,000		1,087
Series A, Rev., 5.00%, 03/15/2044		1,515		1,665


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
New York State Dormitory Authority, Bidding Group 1, Series E, Rev., 5.00%, 03/15/2029		3,000		3,393
New York State Dormitory Authority, Cornell University, Series A, Rev., 5.00%, 07/01/2031		1,000		1,190
New York State Dormitory Authority, Exchange Bonds, Series C, Rev., 5.00%, 07/01/2031		1,227		1,444
New York State Dormitory Authority, General Purpose, Series D, Rev., 5.00%, 02/15/2026 (p)		95		99
New York State Dormitory Authority, Green Bond, Cornell University, Rev., 5.00%, 07/01/2034		1,100		1,373
New York State Dormitory Authority, Group 1, Series A, Rev., 5.00%, 03/15/2024 (p)		2,000		2,008
New York State Dormitory Authority, Group 2,
Series A, Rev., 5.00%, 03/15/2033		2,000		2,326
Series A, Rev., 5.00%, 03/15/2036		2,015		2,234
New York State Dormitory Authority, Group 3, Series A, Rev., 5.00%, 03/15/2037		5,000		5,513
New York State Dormitory Authority, Montefiore Obligated Group,
Series A, Rev., 5.00%, 08/01/2025		1,000		1,006
Series A, Rev., 5.00%, 08/01/2026		900		923
Series A, Rev., 5.00%, 08/01/2031		1,010		1,060
New York State Dormitory Authority, Northwell Health Obligated Group,
Rev., 4.00%, 05/01/2045		6,500		6,374
Rev., 4.25%, 05/01/2052		4,930		4,930
Rev., 5.00%, 05/01/2052		3,000		3,201
New York State Dormitory Authority, Refunded General Purpose, Series B, Rev., 5.00%, 02/15/2026 (p)		2,835		2,964
New York State Dormitory Authority, Second Bond Financing Program,
Rev., AGM, 5.00%, 10/01/2029		3,000		3,421
Rev., AGM, 5.00%, 10/01/2030		4,000		4,643
Rev., AGM, 5.00%, 10/01/2036		260		304
New York State Dormitory Authority, St John’s University, Series A, Rev., 4.00%, 07/01/2048		1,000		976
New York State Dormitory Authority, Unrefunded General Purpose, Series D, Rev., 5.00%, 02/15/2026		5		5
New York State Dormitory Authority, Unrefunded Group 2, Series E, Rev., 5.00%, 03/15/2028		1,000		1,105
New York State Dormitory Authority, Yeshiva University, Series A, Rev., 5.00%, 07/15/2037		2,500		2,671


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New York — continued
New York State Environmental Facilities Corp., Green Bond 2010 Master Financing Project,
Rev., 5.00%, 09/15/2028		575		647
Rev., 5.00%, 09/15/2031		250		299
New York State Environmental Facilities Corp., Municipal Water, Subordinated, Rev., 5.00%, 06/15/2042		2,655		2,814
New York State Environmental Facilities Corp., Solid Waste Disposal Revenue, Casella Waste System, Inc. Project, Rev., AMT, 2.75%, 09/01/2050 (e) (z)		250		241
New York State Housing Finance Agency, Sustainability Bonds,
Series B, Rev., HUD, SONYMA, 3.60%, 11/01/2062 (z)		1,705		1,712
Series I, Rev., SONYMA, 0.70%, 11/01/2056 (z)		2,375		2,231
Series J, Rev., HUD, SONYMA, 1.10%, 11/01/2061 (z)		4,170		3,806
Series K2, Rev., HUD, SONYMA, 1.00%, 11/01/2061 (z)		2,320		2,162
Series K, Rev., SONYMA, 0.70%, 11/01/2024		1,085		1,049
New York State Thruway Authority,
Series A1, Rev., 4.00%, 03/15/2041		500		509
Series A1, Rev., 5.00%, 03/15/2033		1,000		1,173
Series A, Rev., 5.00%, 03/15/2027 (p)		1,000		1,078
Series L, Rev., 5.00%, 01/01/2024		75		75
New York State Thruway Authority, Group 2, Series N, Rev., 4.00%, 01/01/2041		3,120		3,165
New York State Urban Development Corp., Series A, Rev., 4.00%, 03/15/2042		2,000		2,031
New York State Urban Development Corp., Bidding Group 1, Series A, Rev., 5.00%, 03/15/2034		1,690		1,995
New York State Urban Development Corp., Bidding Group 4, Series A, Rev., 3.00%, 03/15/2050		4,000		3,189
New York State Urban Development Corp., Group 2, Series E, Rev., 4.00%, 03/15/2038		1,000		1,044
New York State Urban Development Corp., Personal Income Tax,
Rev., 4.00%, 03/15/2037		2,000		2,097
Rev., 4.00%, 03/15/2041		5,000		5,135
Rev., 5.00%, 03/15/2030		500		576
Series C3, Rev., 5.00%, 03/15/2038		1,860		1,975
New York State Urban Development Corp., State Personal Income Tax,
Rev., 4.00%, 03/15/2042		2,000		2,042
Rev., 5.00%, 03/15/2034		3,000		3,011
Series A, Rev., 5.00%, 03/15/2024		1,000		1,005
Series AG, Rev., 5.00%, 03/15/2038		5,000		5,268


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
New York State Urban Development Corp., State Personal Income Tax, General Purpose,
Series A, Rev., 5.00%, 03/15/2042		5,000		5,355
Series B, Rev., 3.54%, 03/15/2028 (p)		7,000		6,699
New York Transportation Development Corp., American Airlines, Inc.,
Rev., AMT, 2.25%, 08/01/2026		585		559
Rev., AMT, 5.00%, 08/01/2026		5,375		5,376
New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia,
Rev., AMT, 4.38%, 10/01/2045		2,000		1,901
Rev., AMT, 5.00%, 01/01/2032		3,000		3,068
New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia, Rev., AMT, 5.00%, 10/01/2035		11,000		11,424
New York Transportation Development Corp., LaGuardia Airport Terminal,
Rev., AMT, 5.63%, 04/01/2040		15,355		16,519
Rev., AMT, 6.00%, 04/01/2035		5,000		5,570
New York Transportation Development Corp., LaGuardia Airport Terminal B,
Rev., AMT, 5.00%, 07/01/2046		15,180		15,154
Rev., AMT, 5.25%, 01/01/2050		8,425		8,434
New York Transportation Development Corp., LaGuardia Airport Terminal B Redevelopment,
Rev., AMT, 4.00%, 07/01/2031		4,500		4,503
Rev., AGM, AMT, 4.00%, 07/01/2035		5,080		5,084
Rev., AMT, 5.00%, 07/01/2041		1,000		1,001
New York Transportation Development Corp., New York State Thruway, Rev., AMT, 4.00%, 10/31/2034		600		610
New York Transportation Development Corp., Sustainable Bond, JFK International Airport,
Rev., AGM, AMT, 5.00%, 06/30/2049		9,750		10,185
Rev., AGM, AMT, 5.50%, 06/30/2043		1,585		1,754
Rev., AMT, 6.00%, 06/30/2054		8,970		9,905
New York Transportation Development Corp., Terminal 4 JFK International,
Rev., AMT, 5.00%, 12/01/2030		1,710		1,876
Rev., AMT, 5.00%, 12/01/2032		2,005		2,243
Rev., AMT, 5.00%, 12/01/2033		1,000		1,094
Rev., AMT, 5.00%, 12/01/2037		3,500		3,810
Rev., AMT, 5.00%, 12/01/2038		1,000		1,081
New York Transportation Development Corp., Terminal 4 JFK International Airport, Rev., AMT, 5.00%, 12/01/2030		4,160		4,563
New York Transportation Development Corp., Terminal 4 John F Kennedy International,
Rev., AMT, 4.00%, 12/01/2038		300		296
Rev., AMT, 4.00%, 12/01/2039		300		293
Rev., AMT, 4.00%, 12/01/2040		1,475		1,426
Rev., AMT, 4.00%, 12/01/2041		300		288


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New York — continued
Rev., AMT, 4.00%, 12/01/2042		300		284
Rev., 5.00%, 12/01/2024		200		203
Rev., 5.00%, 12/01/2025		200		207
Rev., 5.00%, 12/01/2026		995		1,049
Rev., 5.00%, 12/01/2027		200		215
Rev., 5.00%, 12/01/2028		200		218
Rev., 5.00%, 12/01/2037		250		269
Rev., 5.00%, 12/01/2038		2,250		2,417
Port Authority of New York & New Jersey,
Series 207, Rev., AMT, 5.00%, 09/15/2028		1,080		1,158
Series 207, Rev., AMT, 5.00%, 09/15/2031		5,000		5,352
Series 226, Rev., AMT, 5.00%, 10/15/2031		4,500		5,078
Series 226, Rev., AMT, 5.00%, 10/15/2032		1,250		1,421
Series 226, Rev., AMT, 5.00%, 10/15/2036		2,040		2,274
Series 242, Rev., AMT, 5.00%, 12/01/2042		7,000		7,655
Port Authority of New York & New Jersey, Consolidated,
Series 197, Rev., AMT, 5.00%, 11/15/2032		3,000		3,122
Series 206, Rev., AMT, 5.00%, 11/15/2032		3,000		3,184
Series 221, Rev., AMT, 5.00%, 07/15/2031		1,620		1,812
Series 221, Rev., AMT, 5.00%, 07/15/2032		1,500		1,675
Port Authority of New York & New Jersey, Consolidated 211, Rev., 4.00%, 09/01/2043		5,000		5,048
Port Authority of New York & New Jersey, Consolidated Bond 233, Rev., 5.00%, 08/01/2038		670		773
Port Authority of New York & New Jersey, Consolidated Bond Two Hund, Rev., AMT, 5.00%, 01/15/2039		1,250		1,376
Port Authority of New York & New Jersey, Consolidated Bonds,
Series 221, Rev., AMT, 4.00%, 07/15/2039		5,000		5,003
Series 221, Rev., AMT, 4.00%, 07/15/2040		3,715		3,705
Port Authority of New York & New Jersey, Consolidated One Hundred Eighty,
Rev., AMT, 5.00%, 09/01/2026		3,000		3,021
Series 222, Rev., 4.00%, 07/15/2036		10,250		10,955
State of New York Mortgage Agency Homeowner Mortgage Revenue, Social Bonds, Series 253, Rev., SONYMA, AMT, 4.70%, 10/01/2038		2,090		2,165


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
New York — continued
State of New York Mortgage Agency, Social Bond, Series 239, Rev., SONYMA, 3.25%, 10/01/2051		280		273
State of New York Mortgage Agency, Social Bonds, Series 233, Rev., 3.00%, 10/01/2045		2,140		2,077
State of New York Mortgage Agency, Social Bonds 242, Rev., SONYMA, 3.50%, 10/01/2052		105		103
Tender Option Bond Trust Receipts/Certificates, Floaters, Series 2023-XF1682, Rev., VRDO, LIQ: Toronto Dominion Bank, 3.90%, 01/05/2024 (e) (z)		10,000		10,000
Triborough Bridge & Tunnel Authority,
Series A2, Rev., 2.00%, 05/15/2045 (z)		4,250		3,977
Series A, Rev., BAN, 5.00%, 08/15/2024		3,000		3,035
Series A, Rev., 5.00%, 11/15/2041		1,975		2,035
Series A, Rev., 5.00%, 11/15/2047		2,500		2,766
Series A, Rev., 5.00%, 11/15/2049		3,040		3,286
Triborough Bridge & Tunnel Authority, Green Bond,
Series E1, Rev., 5.00%, 11/15/2027		1,155		1,258
Series E-2B, Rev., 5.00%, 11/15/2032		575		692
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Rev., 5.00%, 05/15/2047		5,250		5,781
Triborough Bridge & Tunnel Authority, MTA Bridges and Tunnels, Rev., 5.00%, 11/15/2026		2,440		2,616
Triborough Bridge & Tunnel Authority, MTA Bridges and Tunnels, Green Bonds, Rev., 5.00%, 11/15/2029		1,615		1,860
Triborough Bridge & Tunnel Authority, Senior, Series C, Rev., 5.00%, 05/15/2040		5,000		5,684
Triborough Bridge & Tunnel Authority, Senior Lien,
Rev., 5.00%, 05/15/2050 (z)		7,000		7,300
Series C, Rev., 5.25%, 05/15/2052		10,000		11,133
Series C1-A, Rev., 5.00%, 05/15/2038		2,000		2,290
Triborough Bridge & Tunnel Authority, Senior Lien MTA Bridges & Tunnels,
Rev., 5.00%, 05/15/2035		2,000		2,389
Rev., 5.00%, 05/15/2036		2,000		2,367
Rev., 5.00%, 05/15/2038		4,240		4,890
Troy Capital Resource Corp., Rensselaer Polytechnic Institute, Rev., 4.00%, 09/01/2036		750		769
TSASC, Inc., Series B, Rev., 5.00%, 06/01/2048		6,780		6,108
Utility Debt Securitization Authority,
Series 1, Rev., 5.00%, 12/15/2031		3,000		3,454
Series 1, Rev., 5.00%, 12/15/2039		1,000		1,191
Series 1, Rev., 5.00%, 12/15/2040		1,420		1,680


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

New York — continued
Utility Debt Securitization Authority, Restructuring Bonds,
Rev., 5.00%, 12/15/2033		1,500		1,561
Series TE, Rev., 5.00%, 12/15/2029		1,500		1,651
Westchester County Local Development Corp., Purchase Senior Learning, Rev., 2.88%, 07/01/2026 (e)		500		491
Westchester County Local Development Corp., Westchester Med. Ctr. Obligated,
Rev., AGM, 5.00%, 11/01/2047		5,610		6,006
Rev., AGM, 5.75%, 11/01/2048		1,400		1,593
Rev., AGM, 5.75%, 11/01/2049		2,000		2,270
Rev., 6.25%, 11/01/2052		420		480
Western Regional Off-Track Betting Corp., Rev., 3.00%, 12/01/2026 (e)		240		225


				922,835

North Carolina — 0.9%
Charlotte-Mecklenburg Hospital Authority, Atrium Health, Series B, Rev., 1.95%, 01/15/2048 (z)		2,285		2,090
Charlotte-Mecklenburg Hospital Authority, The Atrium Health, Series D, Rev., 3.63%, 01/15/2048 (z)		2,200		2,223
City of Charlotte Airport Revenue, Rev., 5.00%, 07/01/2040		2,375		2,738
City of Charlotte Airport Revenue, Airport, Series A, Rev., 4.00%, 07/01/2036		1,520		1,617
City of Charlotte Airport Revenue, Charlotte Douglas International, Rev., AMT, 5.00%, 07/01/2026		1,315		1,372
City of Charlotte Airport Special Facilities Revenue, Charlotte Douglas International,
Rev., 5.00%, 07/01/2049		5,000		5,347
Rev., AMT, 5.00%, 07/01/2049		5,000		5,205
City of Charlotte, Airport Special Facilities Revenue, Series B, Rev., AMT, 5.00%, 07/01/2027		1,315		1,399
County of Cumberland, Qualified School Construction Bonds, COP, 1.25%, 12/15/2025		4,000		3,754
Greater Asheville Regional Airport Authority,
Rev., AGM, AMT, 5.25%, 07/01/2040		500		562
Rev., AGM, AMT, 5.25%, 07/01/2041		415		465
Rev., AGM, AMT, 5.25%, 07/01/2048		1,750		1,903
North Carolina Department of Transportation, I-77 Hot Lanes Project, Rev., AMT, 5.00%, 06/30/2054		2,000		2,008
North Carolina Housing Finance Agency,
Series 37A, Rev., AMT, 3.50%, 07/01/2039		45		45
Series 44, Rev., 2.30%, 01/01/2031		1,030		941
Series 44, Rev., 4.00%, 07/01/2050		310		310
Series 45, Rev., GNMA/FNMA/FHLMC, 1.90%, 01/01/2032		1,525		1,298


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
North Carolina — continued
North Carolina Housing Finance Agency, Home Ownership, Series 47, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2051		910		884
North Carolina Housing Finance Agency, Sustainable Bonds 1998 Trust,
Rev., GNMA/FNMA/FHLMC, 4.90%, 07/01/2043		5,000		5,267
Rev., GNMA/FNMA/FHLMC, 6.25%, 01/01/2055		4,925		5,450
North Carolina Medical Care Commission, CaroMont Health, Series A, Rev., 4.00%, 02/01/2036		1,875		1,966
North Carolina Medical Care Commission, Lutheran Services for the Aging, Rev., 4.00%, 03/01/2041		1,050		843
North Carolina Medical Care Commission, Presbyterian Homes Obligations,
Series A, Rev., 4.00%, 10/01/2027		600		602
Series A, Rev., 4.00%, 10/01/2040		1,200		1,127
Series A, Rev., 4.00%, 10/01/2045		2,250		2,011
North Carolina Medical Care Commission, Rex Healthcare, Series A, Rev., 5.00%, 07/01/2031		1,760		1,963
North Carolina Medical Care Commission, The Forest at Duke Project, Rev., 4.00%, 09/01/2041		830		695
North Carolina State Education Assistance Authority, Senior Bonds, Series A, Rev., AMT, 5.00%, 06/01/2043		1,260		1,304
North Carolina Turnpike Authority, Rev., BAN, 5.00%, 02/01/2024 (p)		7,130		7,137
North Carolina Turnpike Authority, Senior Lien, Rev., AGM, 5.00%, 01/01/2038		2,375		2,558
North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien, Rev., AGM, 5.00%, 01/01/2049		1,000		1,059
Raleigh Durham Airport Authority, Series A, Rev., AMT, 5.00%, 05/01/2032		505		534
State of North Carolina, Build Nc Programs, Series B, Rev., 5.00%, 05/01/2027		2,750		2,977
State of North Carolina, Grant Anticipation Revenue, Rev., 5.00%, 03/01/2029		1,000		1,126
Western Carolina University, Series B, Rev., 5.00%, 04/01/2031		2,120		2,424


				73,204

North Dakota — 0.3%
Cass County Joint Water Resource District, Series A, GO, 0.48%, 05/01/2024		3,635		3,571
City of Grand Forks, Altru Health System,
Rev., 5.00%, 12/01/2031		1,500		1,598
Series A, Rev., AGM, 5.00%, 12/01/2041		1,000		1,099
County of Ward, Trinity Obligation Group, Series C, Rev., 5.00%, 06/01/2043		2,500		2,218


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

North Dakota — continued
North Dakota Housing Finance Agency,
Series B, Rev., 3.00%, 07/01/2051		1,970		1,921
Series C, Rev., 4.00%, 01/01/2050		705		705
North Dakota Housing Finance Agency, Home Mortgage Financing Program, Series A, Rev., 3.00%, 01/01/2052		45		44
North Dakota Housing Finance Agency, Housing Finance Program, Home Mortgage Finance, Series D, Rev., 4.25%, 01/01/2049		2,335		2,338
North Dakota Housing Finance Agency, Social Bonds, Series B, Rev., 3.00%, 07/01/2052		1,025		991
North Dakota Housing Finance Agency, Social Bonds Home Mortgage Finance Program, Rev., 5.75%, 01/01/2054		500		541
North Dakota Housing Finance Agency, Social Bonds Home Mortgage Financing, Rev., 5.75%, 07/01/2053		1,315		1,410
North Dakota Housing Finance Agency, Sustainable Bonds Home Mortgage, Rev., 6.25%, 01/01/2054		3,750		4,153
University of North Dakota, Series A, COP, AGM, 4.00%, 06/01/2046		1,480		1,443
West Fargo Public School District No. 6, Series C, GO, 4.00%, 08/01/2026		300		310


				22,342

Ohio — 2.0%
Akron Bath Copley Joint Township Hospital District, Rev., 5.25%, 11/15/2046		5,775		5,862
Akron Bath Copley Joint Township Hospital District, Children’s Hospital Medical, Rev., 4.00%, 11/15/2042		1,265		1,251
Akron Bath Copley Joint Township Hospital District, Summa Health Obligations,
Rev., 4.00%, 11/15/2034		500		502
Rev., 4.00%, 11/15/2035		1,000		994
Rev., 4.00%, 11/15/2038		750		718
American Municipal Power, Inc., Fremont Energy Center Project,
Rev., 4.00%, 02/15/2036		1,750		1,833
Rev., 5.00%, 02/15/2026		600		625
American Municipal Power, Inc., Prairie State Energy Campus, Rev., 5.00%, 02/15/2026		2,500		2,605
Buckeye Tobacco Settlement Financing Authority, Series B2, Rev., 5.00%, 06/01/2055		13,690		12,865
Buckeye Tobacco Settlement Financing Authority, Senior, Series A2, Rev., 4.00%, 06/01/2048		2,210		2,041
City of Cincinnati, Mercer Commons Phase 2 Project, Rev., 5.00%, 11/01/2035		1,085		1,120


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Ohio — continued
Columbus-Franklin County Finance Authority, Bridge Park D Block Project, Series A, Rev., 5.00%, 12/01/2051		1,750		1,696
Columbus-Franklin County Finance Authority, Dering Family Homes Project, Rev., HUD, 5.00%, 07/01/2045 (z)		2,200		2,291
County of Allen, Hospital Facilities Revenue, Series A, Rev., 5.00%, 08/01/2027		50		54
County of Butler, UC Health, Rev., 5.00%, 11/15/2030		1,300		1,349
County of Franklin, Nationwide Children’s Hospital,
Rev., 4.00%, 11/01/2040		2,000		2,010
Rev., 5.00%, 11/01/2031		1,000		1,154
County of Hamilton, Trihealth, Inc. Obligated Group, Rev., 5.00%, 08/15/2040		1,510		1,603
County of Miami, Improvement, Kettering Health Network, Rev., 5.00%, 08/01/2049		2,000		2,050
County of Montgomery, Dayton Children’s Hospital,
Rev., 5.00%, 08/01/2027		725		777
Rev., 5.00%, 08/01/2029		145		161
Rev., 5.00%, 08/01/2033		230		260
County of Montgomery, Kettering Health Network Obligations, Rev., 4.00%, 08/01/2041		1,200		1,205
County of Van Wert, Van Wert Health Obligated, Rev., 6.13%, 12/01/2049 (p)		1,900		2,209
Franklin County Convention Facilities Authority, Greater Columbus Convention Center, Rev., 5.00%, 12/01/2044		1,000		954
Hamilton City School District, Various Purpose, GO, 5.00%, 12/01/2034 (p)		1,500		1,529
Jefferson County Port Authority, JSW Steel USA Ohio, Rev., AMT, 5.00%, 12/01/2053 (e) (z)		5,835		5,888
Lancaster Port Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 08/01/2049 (z)		5,000		5,064
Miami University,
Series A, Rev., 5.00%, 09/01/2028		515		571
Series A, Rev., 5.00%, 09/01/2030		1,005		1,158
Northeast Ohio Medical University, Rev., BAM, 5.00%, 12/01/2043		1,475		1,579
Ohio Air Quality Development Authority, American Electric Power Co. Project, Rev., AMT, 2.50%, 08/01/2040 (z)		2,500		2,224
Ohio Air Quality Development Authority, American Electric Power Company, Series A, Rev., AMT, 2.10%, 01/01/2029 (z)		1,250		1,220
Ohio Air Quality Development Authority, Dayton Power & Light, Rev., AMT, 4.25%, 11/01/2040 (z)		7,000		7,058


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Ohio — continued
Ohio Air Quality Development Authority, Duke Energy, Rev., AMT, 4.25%, 11/01/2039 (z)		7,205		7,346
Ohio Air Quality Development Authority, Ohio Valley Electric Corp., Rev., AMT, 2.50%, 11/01/2042 (z)		1,000		890
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project,
Rev., 1.38%, 02/01/2026 (z)		1,875		1,811
Rev., 1.50%, 02/01/2026 (z)		120		112
Ohio Higher Educational Facility Commission, Case Western Reserve, Rev., (SIFMA Municipal Swap Index + 0.23%), 4.10%, 12/01/2042 (aa)		155		152
Ohio Higher Educational Facility Commission, Case Western Reserve University, Rev., 5.00%, 12/01/2040		1,065		1,109
Ohio Higher Educational Facility Commission, University of Dayton, Rev., 5.00%, 02/01/2034		1,125		1,248
Ohio Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.50%, 09/01/2048		880		886
Ohio Housing Finance Agency, Marianna Terrace Apartments, Rev., HUD, 1.30%, 03/01/2025 (z)		330		328
Ohio Housing Finance Agency, Mortgage Backed Securities Program, Rev., GNMA/FNMA/FHLMC, 3.25%, 09/01/2052		6,335		6,187
Ohio Housing Finance Agency, Post Oak Station, Rev., HUD, 3.35%, 07/01/2025 (z)		295		294
Ohio Housing Finance Agency, Robert Cassidy Manor Apartments, Rev., FHA HUD, 5.00%, 04/01/2026 (z)		3,060		3,110
Ohio Housing Finance Agency, Thornwood Commons, Rev., FHA HUD, 5.00%, 12/01/2026 (z)		2,000		2,053
Ohio State University (The), Sustainable Bonds Multiyear Debt, Rev., 4.00%, 12/01/2041		2,060		2,109
Ohio Turnpike & Infrastructure Commission, Infrastructure Projects, Series A, Rev., 4.00%, 02/15/2038		1,500		1,531
Ohio Turnpike & Infrastructure Commission, Junior Lien Infrastructure,
Rev., 5.00%, 02/15/2028		500		551
Rev., 5.00%, 02/15/2033		365		440
Ohio Water Development Authority, Series A, Rev., 5.00%, 06/01/2029		500		566
Ohio Water Development Authority Water Pollution Control Loan Fund,
Series A, Rev., 5.00%, 12/01/2030		4,500		5,268
Series B, Rev., 3.00%, 12/01/2034		125		122


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Ohio — continued
Ohio Water Development Authority Water Pollution Control Loan Fund, Loan Fund, Series A, Rev., 5.00%, 12/01/2031		1,000		1,078
Ohio Water Development Authority Water Pollution Control Loan Fund, Sustainable Bonds Water Pollution, Rev., 5.00%, 12/01/2033		4,420		5,439
Ohio Water Development Authority, Sustainability Bond, Series A, Rev., 5.00%, 06/01/2031		300		354
State of Ohio,
Series A2, Rev., 4.00%, 04/01/2033		3,000		3,031
Series A, GO, 5.00%, 09/01/2024		130		132
Series A, GO, 5.00%, 03/01/2034		1,000		1,216
Series X, GO, 5.00%, 05/01/2035		300		355
State of Ohio, Cleveland Clinic Health System,
Rev., 5.00%, 01/01/2033		2,410		2,835
Rev., 5.00%, 01/01/2034		2,425		2,853
Rev., 5.00%, 01/01/2039		570		645
Series A, Rev., 5.00%, 01/01/2027		940		1,008
State of Ohio, Common Schools, Series C, GO, 5.00%, 03/15/2030		125		144
State of Ohio, Garvee,
Series 1A, Rev., 5.00%, 12/15/2025		800		835
Series 1A, Rev., 5.00%, 12/15/2028		1,000		1,123
Series 2022-1, Rev., 5.00%, 12/15/2028		1,000		1,123
Series 2022-1, Rev., 5.00%, 12/15/2031		1,000		1,164
State of Ohio, Higher Education,
Series A, GO, 5.00%, 05/01/2032		10,000		10,762
Series C, GO, 5.00%, 08/01/2028 (p)		350		390
State of Ohio, Infrastructure Improvement,
GO, 4.00%, 09/01/2025		1,075		1,100
GO, 4.00%, 09/01/2027		1,690		1,783
GO, 5.00%, 03/01/2034		1,000		1,195
State of Ohio, Premier Health Partners,
Rev., 4.00%, 11/15/2039		1,320		1,247
Rev., 4.00%, 11/15/2041		1,450		1,333
Rev., 5.00%, 11/15/2028		680		724
State of Ohio, University Hospital Health, Rev., VRDO, 4.25%, 01/02/2024 (z)		1,500		1,500
State of Ohio, University Hospitals Health, Rev., 4.00%, 01/15/2037		1,000		1,023
State of Ohio, University Hospitals Health System, Series A, Rev., 5.00%, 01/15/2041		1,000		1,017
Summit County Development Finance Authority, University of Akron Parking Project, Rev., 5.63%, 12/01/2048		3,000		3,091


				159,093

Oklahoma — 0.5%
Grand River Dam Authority, Rev., 5.00%, 06/01/2037		1,850		2,161


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Oklahoma — continued
Oklahoma City Economic Development Trust, Increment District #8 Project,
Rev., 4.00%, 03/01/2032		1,640		1,772
Rev., 4.00%, 03/01/2033		5,000		5,405
Rev., 4.00%, 03/01/2034		4,440		4,794
Oklahoma Development Finance Authority, Integris, Series A, Rev., 4.00%, 08/15/2038		2,000		2,004
Oklahoma Development Finance Authority, Integris Obligated Group, Rev., VRDO, 4.35%, 01/05/2024 (z)		1,910		1,910
Oklahoma Development Finance Authority, OU Health Project, Series A, Rev., 5.50%, 08/15/2037		1,110		1,139
Oklahoma Development Finance Authority, OU Medicine Project, Series B, Rev., 5.50%, 08/15/2057		6,000		6,013
Oklahoma Housing Finance Agency, Home Ownership Loan Program, Rev., GNMA/FNMA/FHLMC, 6.50%, 09/01/2054		2,700		3,081
Oklahoma Turnpike Authority,
Series A, Rev., 3.75%, 01/01/2033		1,000		1,007
Series A, Rev., 5.00%, 01/01/2037		1,665		1,710
Oklahoma Water Resources Board, Series B, Rev., 5.00%, 10/01/2026		1,255		1,340
Oklahoma Water Resources Board, Drinking Water Program 2019 Master, Rev., 4.00%, 04/01/2048		3,000		3,042
Osage County Industrial Authority, Rev., 5.75%, 09/01/2053		1,000		1,004
Tulsa County Independent School District No. 1 Tulsa, Series B, GO, 2.00%, 09/01/2026		1,500		1,456


				37,838

Other — 0.1%
FHLMC Multifamily ML Certificates,
Rev., 4.00%, 12/25/2036 (z)		1,793		1,736
Rev., 4.55%, 08/25/2040		3,615		3,575


				5,311

Oregon — 0.8%
City of Portland Sewer System Revenue, Second Lien, Series A, Rev., 5.00%, 12/01/2031		2,670		3,172
City of Portland Water System Revenue, Second Lien,
Series A, Rev., 4.00%, 05/01/2039		500		514
Series A, Rev., 5.00%, 05/01/2033		1,825		2,077
County of Gilliam, Waste Management, Rev., AMT, 3.95%, 07/01/2038 (z)		1,000		998
Hospital Facilities Authority of Multnomah County Oregon, Green Bond Terwilliger, Rev., 0.95%, 06/01/2027		1,200		1,074
Jackson County School District No. 5 Ashland, GO, SCH BD GTY, 5.00%, 06/15/2030		1,000		1,132


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Oregon — continued
Medford Hospital Facilities Authority, Asante Project, Series A, Rev., AGM, 4.00%, 08/15/2045		1,330		1,313
Multnomah County School District No. 1 Portland, GO, SCH BD GTY, 5.00%, 06/15/2028		1,850		2,054
Oregon Health & Science University, Series B1, Rev., 5.00%, 07/01/2046 (z)		1,500		1,669
Oregon State Facilities Authority, Samaritan Health Services, Rev., 5.00%, 10/01/2040		1,750		1,846
Oregon State Facilities Authority, Samaritan Health Services Project, Rev., 5.00%, 10/01/2031		1,740		1,806
Port of Portland Airport Revenue,
Series 27A, Rev., AMT, 5.00%, 07/01/2028		1,595		1,717
Series 27A, Rev., AMT, 5.00%, 07/01/2034		1,455		1,606
Series 27A, Rev., AMT, 5.00%, 07/01/2036		1,000		1,093
Port of Portland Airport Revenue, Green Bonds, Rev., AMT, 5.00%, 07/01/2036		500		565
Port of Portland Airport Revenue, Portland International Air, Rev., AMT, 5.00%, 07/01/2035		1,270		1,372
Port of Portland Airport Revenue, Portland International Airport,
Rev., AMT, 5.00%, 07/01/2026		1,145		1,192
Rev., AMT, 5.00%, 07/01/2031		2,230		2,435
Series 25B, Rev., AMT, 5.00%, 07/01/2039		1,020		1,077
Salem Hospital Facility Authority, Capital Manor Project,
Rev., 4.00%, 05/15/2032		185		175
Rev., 4.00%, 05/15/2040		750		644
Salem Hospital Facility Authority, Salem Health Projects, Series A, Rev., 5.00%, 05/15/2046		3,000		3,058
State of Oregon Department of Transportation, Subordinate, Series A, Rev., 5.00%, 11/15/2036		9,095		10,262
State of Oregon Housing & Community Services Department, Series C, Rev., 3.00%, 01/01/2052		3,205		3,125
State of Oregon Housing & Community Services Department, Single Family Mortgage Program, Series A, Rev., 3.00%, 07/01/2052		615		599
State of Oregon Housing & Community Services Department, The Susan Emmons Apartments Project, Rev., HUD, 4.35%, 06/01/2024		2,115		2,120
State of Oregon, Article XI Q, Series F, GO, 5.00%, 05/01/2030		100		105
State of Oregon, Article XI Q State Project,
GO, 5.00%, 05/01/2025		500		515
GO, 5.00%, 05/01/2030		405		469


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Oregon — continued
State of Oregon, Article XI Q State Projects, GO, 5.00%, 05/01/2028		1,000		1,111
State of Oregon, Article Xi-M & Xi-N Seismic, GO, 5.00%, 06/01/2030		1,995		2,313
State of Oregon, Article XI-Q State Project, Series A, GO, 5.00%, 05/01/2027		1,220		1,323
State of Oregon, Veterans Welfare Bonds, GO, 5.50%, 12/01/2053		265		287
State of Oregon, Veterans Welfare Bonds Series, GO, 3.00%, 12/01/2051		1,295		1,252
University of Oregon, Series A, Rev., 5.00%, 04/01/2048		1,000		1,045
Yamhill Clackamas & Washington Counties School District No. 29J Newberg, Series B, GO, SCH BD GTY, 4.00%, 06/15/2039		3,620		3,762


				60,877

Pennsylvania — 5.0%
Allegheny County Airport Authority,
Series A, Rev., AGM, AMT, 4.00%, 01/01/2046		11,800		11,508
Series A, Rev., AGM-CR, AMT, 4.00%, 01/01/2056		8,920		8,276
Series B, Rev., AGM, 4.00%, 01/01/2039		2,635		2,695
Allegheny County Hospital Development Authority, Health Network Obligations,
Rev., 5.00%, 04/01/2033		1,000		1,073
Series A, Rev., 5.00%, 04/01/2047		1,560		1,600
Allegheny County Hospital Development Authority, University of Pittsburgh Medical Center,
Rev., 4.00%, 07/15/2038		2,185		2,205
Rev., 5.00%, 07/15/2030		1,000		1,111
Allegheny County Industrial Development Authority, United States Steel Corp., Rev., 4.88%, 11/01/2024		1,500		1,498
Allegheny County Sanitary Authority, Rev., 5.75%, 06/01/2047		2,250		2,618
Allegheny County, Hospital Development Authority, Pittsburg University Medical Center,
Series A, Rev., 4.00%, 07/15/2036		2,200		2,259
Series A, Rev., 5.00%, 07/15/2027		765		822
Allegheny County, Sanitary Authority,
Series B, Rev., 4.00%, 06/01/2035		400		425
Series B, Rev., 4.00%, 06/01/2036		675		718
Series B, Rev., 5.00%, 06/01/2030		500		577
Allentown Neighborhood Improvement Zone Development Authority, Forward Delivery, Rev., 5.00%, 05/01/2042		1,000		1,028
Allentown Neighborhood Improvement Zone Development Authority, Neuweiler Lofts Project, Rev., 6.25%, 05/01/2042 (e)		2,010		2,004


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Pennsylvania — continued
Allentown Neighborhood Improvement Zone Development Authority, Senior Tax Revenue, Rev., 6.00%, 05/01/2042 (e)		180		186
Altoona Area School District, GO, BAM, 5.00%, 12/01/2048 (p)		1,000		1,043
Bentworth School District, Series A, GO, BAM, 4.00%, 03/15/2025		1,380		1,397
Berks County Industrial Development Authority, Tower Health Project,
Rev., 4.00%, 11/01/2050		1,500		781
Rev., 5.00%, 11/01/2047		2,155		1,123
Bethlehem Area School District Authority, Bethlehem Area School District,
Rev., (United States SOFR * 0.67 + 0.35%), 3.96%, 01/01/2030 (aa)		230		226
Rev., (United States SOFR * 0.67 + 0.35%), 3.96%, 07/01/2031 (aa)		290		286
Rev., (United States SOFR * 0.67 + 0.35%), 3.96%, 01/01/2032 (aa)		240		236
Capital Region Water, Water Revenue, Rev., 5.00%, 07/15/2032		1,000		1,093
Central Bradford Progress Authority, Guthrie Clinic, Rev., VRDO, 4.41%, 01/05/2024 (z)		400		400
Chartiers Valley School District, Series B, GO, 5.00%, 10/15/2040 (p)		1,000		1,028
City of Lancaster, GO, BAM, 5.00%, 11/01/2047		6,665		7,159
City of Philadelphia,
GO, AGM, 5.00%, 08/01/2031		1,795		1,932
Series A, GO, 5.00%, 08/01/2030		4,000		4,087
City of Philadelphia Airport Revenue,
Series A, Rev., 5.00%, 07/01/2047		5,000		5,180
Series B, Rev., AMT, 5.00%, 07/01/2035		2,235		2,341
Series C, Rev., AMT, 4.00%, 07/01/2050		1,500		1,414
Series C, Rev., AMT, 5.00%, 07/01/2028		10,000		10,733
City of Philadelphia Airport Revenue, Private Activity,
Rev., AGM, AMT, 4.00%, 07/01/2041		1,100		1,107
Rev., AGM, AMT, 4.00%, 07/01/2046		3,750		3,656
City of Philadelphia Water & Wastewater Revenue,
Series A, Rev., 5.00%, 11/01/2040		2,790		3,030
Series A, Rev., 5.00%, 11/01/2045		7,000		7,557
Series C, Rev., 5.00%, 06/01/2042		1,000		1,101
Commonwealth Financing Authority, Tobacco Master Settlement Payment,
Rev., AGM, 4.00%, 06/01/2039		6,340		6,386
Rev., 5.00%, 06/01/2025		1,820		1,862
Commonwealth of Pennsylvania,
Series 1, GO, 4.00%, 04/01/2029		3,000		3,006
Series 1, GO, 4.00%, 03/15/2034		5,000		5,042
Series 1, GO, 4.00%, 03/01/2035		3,650		3,794
Series 1, GO, 4.00%, 03/15/2035		2,000		2,015


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Pennsylvania — continued
Commonwealth of Pennsylvania, Bidding Group C First Series, Series 1, GO, 4.00%, 09/01/2040		5,000		5,186
County of Allegheny, Series C75, GO, 5.00%, 11/01/2028		2,305		2,441
County of Lehigh, St. Luke’s Hospital Project, Rev., (SIFMA Municipal Swap Index + 1.10%), 4.97%, 08/15/2038 (aa)		355		351
Cumberland County Municipal Authority, Rev., 5.00%, 05/01/2030		1,000		1,038
Delaware River Port Authority,
Rev., 5.00%, 01/01/2037		3,000		3,008
Rev., 5.00%, 01/01/2040		10,000		10,013
Delaware Valley Regional Finance Authority,
Series A, Rev., AMBAC, 5.50%, 08/01/2028		4,390		4,892
Series C, Rev., (ICE LIBOR USD 3 Month * 0.67 + 0.75%), 4.53%, 06/01/2037 (aa)		250		215
Geisinger Authority, Geisinger Health System Obligation Group, Rev., 4.00%, 04/01/2039		1,000		1,009
Geisinger Authority, Geisinger Health System Se, Rev., 5.00%, 02/15/2045		5,560		5,671
Lancaster County Hospital Authority, Auth Masonic Villages Project, Rev., 5.13%, 11/01/2038		1,675		1,784
Lancaster County Hospital Authority, Penn State Health, Rev., 5.00%, 11/01/2037		600		646
Lancaster Industrial Development Authority, Landis Homes Retirement Community, Rev., 4.00%, 07/01/2056		765		546
Lehigh County Industrial Development Authority, PPL Electric Utilities Project, Series A, Rev., 3.00%, 09/01/2029		3,455		3,419
Monroeville Finance Authority,
Series B, Rev., 5.00%, 02/15/2029		1,425		1,578
Series B, Rev., 5.00%, 02/15/2038		1,200		1,331
Series B, Rev., 5.00%, 02/15/2039		2,000		2,207
Montgomery County Higher Education and Health Authority, Thomas Jefferson University,
Rev., 4.00%, 05/01/2038		250		255
Rev., VRDO, 4.42%, 01/05/2024 (z)		11,000		11,000
Montgomery County Higher Education and Health Authority, Thomas Jefferson University Project, Rev., 4.00%, 09/01/2044		1,610		1,573
Montgomery County Industrial Development Authority, Constellation Energy, Rev., 4.10%, 04/01/2053 (z)		3,335		3,399
Montgomery County Industrial Development Authority, Retirement Life Communities,
Rev., 5.00%, 11/15/2033		1,500		1,548
Series C, Rev., 5.00%, 11/15/2045		2,585		2,631


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Pennsylvania — continued
New Castle Sanitation Authority, Series A, Rev., AGM, 3.00%, 06/01/2029		500		504
Norristown Area School District, GO, 5.00%, 09/01/2026		1,500		1,584
Pennsylvania Economic Development Financing Authority,
Rev., 4.00%, 05/15/2048		2,055		1,995
Rev., 5.00%, 05/15/2031		2,385		2,721
Pennsylvania Economic Development Financing Authority, Pennsylvania Bridges Finco LP P3 Project,
Rev., AMT, 5.00%, 12/31/2030		3,460		3,554
Rev., AMT, 5.00%, 12/31/2034		2,000		2,051
Rev., AMT, 5.00%, 06/30/2042		1,250		1,259
Pennsylvania Economic Development Financing Authority, Philadelphia Biosolids Facility,
Rev., 4.00%, 01/01/2028		1,590		1,600
Rev., 4.00%, 01/01/2029		450		453
Rev., 4.00%, 01/01/2031		800		808
Pennsylvania Economic Development Financing Authority, Republic Services, Inc. Project, Series B1, Rev., AMT, 4.60%, 04/01/2049 (z)		545		545
Pennsylvania Economic Development Financing Authority, The Penndot Major Bridges,
Rev., AGM, AMT, 5.00%, 12/31/2057		6,730		6,946
Rev., AMT, 5.25%, 06/30/2035		1,500		1,684
Rev., AGM, AMT, 5.50%, 06/30/2042		5,640		6,223
Rev., AMT, 5.75%, 06/30/2048		3,750		4,113
Rev., AGM, AMT, 5.75%, 12/31/2062		2,500		2,762
Rev., AMT, 6.00%, 06/30/2061		1,500		1,663
Pennsylvania Economic Development Financing Authority, UPMC,
Series A1, Rev., 4.00%, 04/15/2045		5,440		5,404
Series A, Rev., 4.00%, 02/15/2042		1,330		1,334
Series A, Rev., 5.00%, 02/01/2030		4,960		5,004
Pennsylvania Economic Development Financing Authority, Waste Management Project, Rev., 0.95%, 12/01/2033 (z)		2,000		1,826
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Rev., AMT, 1.10%, 06/01/2031 (z)		2,000		1,839
Pennsylvania Economic Development Financing Authority, Waste Management, Inc. Project,
Rev., AMT, 1.75%, 08/01/2038 (z)		5,000		4,931
Rev., AMT, (SIFMA Municipal Swap Index + 0.40%), 4.27%, 06/01/2041 (aa)		805		801
Rev., AMT, 4.60%, 10/01/2046 (z)		9,000		9,095
Rev., AMT, 4.88%, 08/01/2045 (z)		4,250		4,251
Series A, Rev., AMT, 0.58%, 08/01/2037 (z)		2,610		2,557


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Pennsylvania — continued
Pennsylvania Higher Education Assistance Agency, Series A, Rev., AMT, 5.00%, 06/01/2026		95		98
Pennsylvania Higher Education Assistance Agency, Senior, Series A, Rev., AMT, 5.00%, 06/01/2028		3,775		3,984
Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University,
Rev., 5.25%, 09/01/2050		1,345		1,356
Rev., AGM-CR, 5.25%, 09/01/2050		7,000		7,080
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Rev., 5.00%, 08/15/2042		1,250		1,304
Pennsylvania Higher Educational Facilities Authority, University Pennsylvania Health System, Series A, Rev., 4.00%, 08/15/2035		1,170		1,200
Pennsylvania Housing Finance Agency, Series 133, Rev., 3.00%, 10/01/2050		2,855		2,783
Pennsylvania Housing Finance Agency, Social Bond,
Series A, Rev., 4.85%, 10/01/2043		4,000		4,171
Series A, Rev., 5.50%, 10/01/2053		1,500		1,603
Pennsylvania Housing Finance Agency, Social Bonds, Series 141A, Rev., 5.75%, 10/01/2053		3,050		3,270
Pennsylvania Housing Finance Agency, Sustainable Bonds, Series 2022, Rev., 4.25%, 10/01/2052		2,000		2,021
Pennsylvania Turnpike Commission,
Series A1, Rev., 5.00%, 12/01/2027		1,000		1,094
Series A1, Rev., 5.00%, 12/01/2034		1,000		1,083
Series A1, Rev., 5.00%, 12/01/2045		7,685		7,791
Series A1, Rev., 5.00%, 12/01/2046		1,000		1,020
Series A2, Rev., 5.00%, 12/01/2024		100		102
Series A, Rev., 4.00%, 12/01/2041		1,250		1,273
Series A, Rev., 5.25%, 12/01/2044		2,500		2,679
Series B, Rev., 4.00%, 12/01/2039		3,000		3,082
Series B, Rev., 5.00%, 12/01/2026		400		427
Series B, Rev., 5.00%, 12/01/2027		500		547
Series B, Rev., 5.00%, 12/01/2039		1,305		1,490
Series B, Rev., 5.25%, 12/01/2047		3,000		3,361
Series C, Rev., 4.00%, 12/01/2040		1,400		1,435
Series C, Rev., 4.00%, 12/01/2042		1,555		1,580
Series C, Rev., 5.00%, 12/01/2027		345		377
Series C, Rev., 5.00%, 12/01/2041		1,560		1,753
Series C, Rev., 5.00%, 12/01/2046		1,350		1,462
Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Subordinate, Series B, Rev., 5.00%, 12/01/2038		1,500		1,589
Pennsylvania Turnpike Commission, Motor License, Rev., 5.00%, 12/01/2040		1,000		1,059
Pennsylvania Turnpike Commission, Subordinate,
Rev., 5.00%, 12/01/2030		1,750		1,885


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Pennsylvania — continued
Series A, Rev., 4.00%, 12/01/2043		2,135		2,151
Pennsylvania Turnpike Commission, Subordinated,
Rev., 5.00%, 06/01/2026		2,000		2,073
Series A, Rev., 5.00%, 12/01/2036		2,775		2,907
Series B2, Rev., 5.00%, 06/01/2027		2,480		2,664
Philadelphia Authority for Industrial Development, Rev., 5.00%, 05/01/2033		1,250		1,349
Philadelphia Authority for Industrial Development, String Theory Charter School, Rev., 5.00%, 06/15/2040 (e)		900		901
Philadelphia Authority for Industrial Development, Thomas Jefferson University,
Series A, Rev., 5.00%, 09/01/2032		1,110		1,157
Series A, Rev., 5.00%, 09/01/2035		1,105		1,147
Series A, Rev., 5.00%, 09/01/2047		1,000		1,018
Philadelphia Gas Works Co., Series A, Rev., AGM, 4.00%, 08/01/2045		5,000		5,024
Pittsburgh Water & Sewer Authority,
Series B, Rev., AGM, 4.00%, 09/01/2036		500		522
Series B, Rev., AGM, 4.00%, 09/01/2038		500		513
Series B, Rev., AGM, 4.00%, 09/01/2045		2,250		2,252
Pittsburgh Water & Sewer Authority, First Lien, Series A, Rev., AGM, 5.00%, 09/01/2048		1,000		1,097
Ridley School District, GO, BAM, 5.25%, 11/15/2039		4,545		5,042
School District of Philadelphia (The),
Series A, GO, 5.00%, 09/01/2027		610		651
Series A, GO, 5.00%, 09/01/2031		245		279
Series A, GO, 5.00%, 09/01/2035		3,000		3,211
Series F, GO, 5.00%, 09/01/2035		5,000		5,182
Series F, GO, 5.00%, 09/01/2037		2,000		2,060
School District of Philadelphia (The), Green Bond,
Series B, GO, 5.00%, 09/01/2027		895		955
Series B, GO, 5.00%, 09/01/2028		1,485		1,629
Series B, GO, 5.00%, 09/01/2029		450		501
Scranton School District, Series E, GO, BAM, 4.00%, 12/01/2037		1,025		1,029
Southeastern Pennsylvania Transportation Authority, Asset Improvement Program,
Rev., 5.25%, 06/01/2041		3,000		3,453
Rev., 5.25%, 06/01/2042		1,500		1,714
Rev., 5.25%, 06/01/2047		7,750		8,678
Sports & Exhibition Authority of Pittsburgh and Allegheny County,
Rev., AGM, 5.00%, 02/01/2027		2,250		2,402
Rev., AGM, 5.00%, 02/01/2028		2,590		2,841
State Public School Building Authority, Northampton County Area Community,
Rev., BAM, 4.00%, 03/01/2029		1,000		1,048


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Pennsylvania — continued
Rev., BAM, 4.00%, 03/01/2030		640		668
Rev., BAM, 4.00%, 03/01/2031		500		521
Rev., BAM, 5.00%, 03/01/2027		715		761
Rev., BAM, 5.00%, 03/01/2028		755		820
State Public School Building Authority, Philadelphia School District, Rev., AGM, 5.00%, 06/01/2030		3,480		3,689
University of Pittsburgh-of the Commonwealth System of Higher Education, University Capital Project, Rev., 5.00%, 02/15/2034		4,250		5,206
Westmoreland County Industrial Development Authority, Excela Health Project,
Series A, Rev., 4.00%, 07/01/2025		575		574
Series A, Rev., 5.00%, 07/01/2028		1,400		1,479


				405,993

Puerto Rico — 0.7%
Commonwealth of Puerto Rico, Restructured,
Series A1, GO, 4.00%, 07/01/2033		481		471
Series A1, GO, 4.00%, 07/01/2041		505		463
Series A1, GO, 4.00%, 07/01/2046		525		468
Series A1, GO, 5.38%, 07/01/2025		1,917		1,959
Series A1, GO, 5.63%, 07/01/2027		4,045		4,278
Series A1, GO, 5.63%, 07/01/2029		2,000		2,169
Series A1, GO, 5.75%, 07/01/2031		2,008		2,233
Series A, GO, Zero Coupon, 07/01/2024		78		77
Series A, GO, Zero Coupon, 07/01/2033		7,410		4,620
Commonwealth of Puerto Rico, Subordinate, Note Claims, Series CW, 0.00%, 11/01/2043 (z)		2,134		1,163
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Senior Lien, Series A, Rev., 5.00%, 07/01/2047 (e)		1,000		982
Puerto Rico Electric Power Authority,
Series AAA, Rev., 5.25%, 07/01/2023 (d)		100		26
Series CCC, Rev., 4.63%, 07/01/2025 (d)		100		26
Series DDD, Rev., 5.00%, 07/01/2020 (d)		570		148
Series NN, Rev., NATL, 4.75%, 07/01/2033		30		29
Series TT, Rev., 5.00%, 07/01/2020 (d)		285		74
Series TT, Rev., 5.00%, 07/01/2021 (d)		100		26
Series TT, Rev., 5.00%, 07/01/2037 (d)		1,200		312
Series XX, Rev., 4.63%, 07/01/2025 (d)		100		26
Series XX, Rev., 4.75%, 07/01/2026 (d)		295		77
Series ZZ, Rev., 4.25%, 07/01/2020 (d)		470		122
Series ZZ, Rev., 5.25%, 07/01/2019 (d)		580		151
Series ZZ, Rev., 5.25%, 07/01/2023 (d)		500		130
Puerto Rico Electric Power Authority, Libor, Series UU, Rev., AGM, (CME Term SOFR 3 Month * 0.67 + 0.52%), 4.31%, 07/01/2029 (aa)		500		465


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Puerto Rico — continued
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Restructured,
Series A1, Rev., Zero Coupon, 07/01/2031		2,925		2,141
Series A1, Rev., 4.75%, 07/01/2053		3,000		2,969
Series A1, Rev., 5.00%, 07/01/2058		18,250		18,314
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Restructured,
Series A1, Rev., 4.55%, 07/01/2040		1,385		1,392
Series A2, Rev., 4.33%, 07/01/2040		13,000		12,905


				58,216

Rhode Island — 0.1%
Rhode Island Health and Educational Building Corp., Brown University, Series A, Rev., 4.00%, 09/01/2037		1,000		1,027
Rhode Island Housing and Mortgage Finance Corp., Series 71, Rev., GNMA COLL, 3.75%, 10/01/2049		290		289
Rhode Island Housing and Mortgage Finance Corp., Homeownership Opportunity,
Series 73A, Rev., 0.95%, 04/01/2026		500		461
Series 73A, Rev., 1.10%, 04/01/2027		300		271
Series 73A, Rev., 1.65%, 10/01/2029		715		634
Series 73A, Rev., 3.00%, 10/01/2050		980		954
Rhode Island Housing and Mortgage Finance Corp., Social Bonds, Series 75A, Rev., 3.00%, 10/01/2051		2,340		2,270
Rhode Island Student Loan Authority, Senior Bond, Series A, Rev., AMT, 5.00%, 12/01/2029		370		405
Tobacco Settlement Financing Corp., Series B, Rev., 4.50%, 06/01/2045		3,165		3,167


				9,478

South Carolina — 1.2%
City of Columbia Waterworks & Sewer System Revenue,
Rev., 5.00%, 02/01/2047		2,625		2,931
Series B, Rev., 5.00%, 02/01/2036		1,085		1,301
Series B, Rev., 5.00%, 02/01/2037		1,500		1,782
Series B, Rev., 5.00%, 02/01/2038		1,500		1,754
Columbia Housing Authority, Colonial Bluffs Apartments, Rev., 1.25%, 08/01/2025 (z)		770		758
Lexington County Health Services District, Inc., Lexmed Obligated Group,
Rev., 4.00%, 11/01/2030		1,000		1,030
Rev., 4.00%, 11/01/2031		1,000		1,031
Patriots Energy Group Financing Agency,
Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 10/01/2048 (z)		40		40
Series B1, Rev., 5.25%, 02/01/2054 (z)		14,400		15,681


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

South Carolina — continued
South Carolina Jobs-Economic Development Authority, Bon Secours Mercy Health, Series S, Rev., 5.00%, 12/01/2048 (z)		1,000		1,029
South Carolina Jobs-Economic Development Authority, McLeod Health Projects, Rev., 5.00%, 11/01/2048		1,000		1,034
South Carolina Jobs-Economic Development Authority, Prisma Health Obligated Group, Series A, Rev., 5.00%, 05/01/2030		1,500		1,598
South Carolina Jobs-Economic Development Authority, Prisma Health Obligation Group, Rev., VRDO, 4.45%, 01/05/2024 (z)		4,800		4,800
South Carolina Ports Authority, Rev., AMT, 5.00%, 07/01/2043		5,680		5,865
South Carolina Public Service Authority,
Series A, Rev., 4.00%, 12/01/2033		1,000		1,035
Series A, Rev., 4.00%, 12/01/2034		2,000		2,067
Series A, Rev., 4.00%, 12/01/2037		2,000		2,045
Series A, Rev., 4.00%, 12/01/2038		520		529
Series A, Rev., 5.00%, 12/01/2024		500		507
Series A, Rev., 5.00%, 12/01/2027		1,525		1,633
Series A, Rev., 5.00%, 12/01/2028		1,700		1,738
Series A, Rev., 5.00%, 12/01/2029		85		94
Series A, Rev., 5.00%, 12/01/2031		4,500		5,043
Series A, Rev., 5.00%, 12/01/2032		1,000		1,120
Series B, Rev., 5.00%, 12/01/2040		1,000		1,089
Series B, Rev., 5.00%, 12/01/2041		1,000		1,021
South Carolina Public Service Authority, Bond Exchange, Series A, Rev., 5.00%, 12/01/2050		5,000		5,013
South Carolina Public Service Authority, Obligations, Series C, Rev., 5.00%, 12/01/2027		1,600		1,681
South Carolina Public Service Authority, Unrefunded Obligations,
Series A, Rev., 5.50%, 12/01/2054		15,000		15,041
Series C, Rev., 5.00%, 12/01/2046		3,000		3,008
South Carolina State Housing Finance & Development Authority,
Series A, Rev., 3.00%, 01/01/2052		685		665
Series A, Rev., 4.00%, 01/01/2052		860		862
Series B, Rev., 3.25%, 01/01/2052		6,575		6,460
South Carolina State Housing Finance & Development Authority, James Lewis Jr. Eastside, Rev., FNMA COLL, 0.30%, 09/01/2024 (z)		2,190		2,175
South Carolina State Housing Finance & Development Authority, Villages at Congaree, Rev., 1.25%, 06/01/2025 (z)		895		885
Spartanburg Regional Health Services District, Services District, Inc.,
Rev., 5.00%, 04/15/2026		565		587
Rev., 5.00%, 04/15/2028		500		540


				95,472


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
South Dakota — 0.2%
County of Lincoln, GO, 5.00%, 12/01/2048		3,000		3,250
County of Lincoln, Augustana College Association, Rev., 4.00%, 08/01/2041		250		231
South Dakota Housing Development Authority,
Series C, Rev., GNMA/FNMA/FHLMC, 3.50%, 05/01/2051		905		894
Series G, Rev., GNMA/FNMA/FHLMC, 6.25%, 05/01/2055		4,270		4,731
South Dakota Housing Development Authority, Homeownership Mortgage, Series B, Rev., 3.00%, 11/01/2051		2,610		2,532


				11,638

Tennessee — 1.2%
Chattanooga Health Educational & Housing Facility Board, Commonspirit Health, Series A1, Rev., 5.00%, 08/01/2028		305		329
City of Clarksville Water Sewer & Gas Revenue, Rev., 5.00%, 02/01/2041 (p)		965		1,011
City of Memphis Storm Water System Revenue, Rev., 5.00%, 10/01/2044		3,365		3,539
County of Coffee, GO, 5.00%, 06/01/2026		250		264
Health Educational and Housing Facility Board of the City of Memphis (The), Tillman Cove Apartments, Rev., HUD, 0.55%, 12/01/2024 (z)		2,275		2,235
Johnson City Health & Educational Facilities Board, Tapestry at Roan Hill, Rev., HUD, 3.60%, 12/01/2027 (z)		3,000		3,014
Knox County Health Educational & Housing Facility Board, Westview Towers Project, Rev., HUD, 3.95%, 12/01/2027 (z)		410		412
Knoxville’s Community Development Corp., Willow Place Project, Rev., HUD, 3.75%, 12/01/2027 (z)		1,800		1,811
Memphis-Shelby County Airport Authority,
Rev., AMT, 5.00%, 07/01/2032		270		289
Rev., AMT, 5.00%, 07/01/2043		2,055		2,131
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Belmont University, Rev., 5.25%, 05/01/2048		1,250		1,367
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Vanderbilt University Medical Center, Rev., 5.00%, 07/01/2046		1,285		1,297
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bond, Vanderbilt University Medical Center, Series A, Rev., 5.00%, 07/01/2040		7,555		7,682


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Tennessee — continued
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds, Vanderbilt University Medical, Rev., 5.00%, 07/01/2031		2,785		3,129
Metropolitan Government Nashville & Davidson County Industrial Development Board, Waste Management, Inc. Tenn Project, Rev., AMT, 0.58%, 08/01/2031 (z)		600		588
Metropolitan Government Nashville & Davidson County Sports Authority, Stadium Project Senior Lien, Series A, Rev., AGM, 5.25%, 07/01/2048		2,925		3,274
Metropolitan Government of Nashville & Davidson County, Water & Sewer Revenue, Subordinate, Series B, Rev., 5.00%, 07/01/2035		1,500		1,612
Metropolitan Nashville Airport Authority (The),
Series B, Rev., AMT, 5.00%, 07/01/2026		70		73
Series B, Rev., AMT, 5.00%, 07/01/2027		170		180
Series B, Rev., AMT, 5.25%, 07/01/2033		270		313
Series B, Rev., AMT, 5.25%, 07/01/2047		3,500		3,752
Series B, Rev., AMT, 5.50%, 07/01/2038		1,625		1,857
State of Tennessee, GO, 5.00%, 05/01/2041		7,470		8,659
Tennergy Corp., Series A, Rev., 4.00%, 12/01/2051 (z)		6,500		6,517
Tennergy Corp., Gas Supply Bonds, Series A, Rev., 5.50%, 10/01/2053 (z)		5,000		5,337
Tennessee Energy Acquisition Corp.,
Rev., 4.00%, 11/01/2049 (z)		4,480		4,498
Rev., 5.00%, 05/01/2052 (z)		18,000		19,254
Tennessee Energy Acquisition Corp., Gas Project, Series A1, Rev., 5.00%, 05/01/2053 (z)		9,000		9,396
Tennessee Housing Development Agency, Residential Finance Program I, Rev., 3.75%, 01/01/2050		225		224
Williamson County Industrial Development Board, Wood Duck Court Apartments, Rev., HUD, 5.00%, 05/01/2042 (z)		1,460		1,526


				95,570

Texas — 10.8%
Anson Education Facilities Corp., Arlington Classics Academy, Rev., 5.00%, 08/15/2045		1,370		1,383
Arlington Higher Education Finance Corp.,
Series A, Rev., PSF-GTD, 4.00%, 08/15/2024		200		201
Series A, Rev., PSF-GTD, 4.00%, 08/15/2025		445		452
Series A, Rev., PSF-GTD, 4.00%, 08/15/2026		265		271


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Series A, Rev., PSF-GTD, 4.00%, 08/15/2030		425		449
Series A, Rev., PSF-GTD, 5.00%, 08/15/2031		555		640
Arlington Higher Education Finance Corp., Legacy Traditional Schools,
Rev., 4.13%, 02/15/2041		815		598
Rev., 6.00%, 02/15/2042 (e)		250		231
Arlington Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		775		812
Austin Community College District,
GO, 5.00%, 08/01/2048		3,500		3,892
GO, 5.25%, 08/01/2053		1,500		1,688
Austin Convention Enterprises, Inc., First Tier Convention Center, Rev., 5.00%, 01/01/2033		1,125		1,157
Austin Independent School District,
GO, 5.00%, 08/01/2026		1,000		1,062
GO, 5.00%, 08/01/2038		500		583
Series A, GO, PSF-GTD, 4.00%, 08/01/2032 (p)		1,000		1,019
Barbers Hill Independent School District, GO, PSF-GTD, 5.00%, 02/15/2035		3,000		3,529
Bastrop Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040		2,000		2,280
Beaumont Independent School District,
GO, PSF-GTD, 3.00%, 02/15/2033		2,500		2,403
GO, PSF-GTD, 5.00%, 02/15/2028		1,535		1,606
Bells Independent School District, GO, PSF-GTD, 4.25%, 02/15/2053		2,310		2,347
Bexar County Hospital District, Certificate Obligation, GO, 5.00%, 02/15/2043		2,750		3,033
Bexar County Hospital District, Certificates Obligation, GO, 4.00%, 02/15/2039		1,090		1,128
Bexar County Hospital District, Certificates of Obligation,
GO, 5.00%, 02/15/2036		370		425
GO, 5.00%, 02/15/2037		230		262
Board of Regents of the University of Texas System,
Series A, Rev., 5.00%, 08/15/2030		1,000		1,162
Series E, Rev., 5.00%, 08/15/2027		1,000		1,092
Board of Regents of the University of Texas System, Financing System, Series A, Rev., 4.00%, 08/15/2036		1,000		1,001
Boerne Independent School District, GO, PSF-GTD, 3.13%, 02/01/2053 (z)		1,775		1,779
Brazoria County Toll Road Authority, Subordinated Lien, Series A, Rev., CNTY GTD, 5.00%, 03/01/2033		1,670		1,796
Brazosport Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2029		2,000		2,235
GO, PSF-GTD, 5.00%, 02/15/2030		1,925		2,147


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
Cameron County Housing Finance Corp., Sunland Country Apartments, Rev., 3.95%, 02/01/2024		715		715
Capital Area Housing Finance Corp., Redwood Apartments, Rev., 3.50%, 01/01/2041 (w) (z)		6,605		6,605
Carrollton-Farmers Branch Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		2,500		2,623
Central Texas Regional Mobility Authority,
Series B, Rev., 4.00%, 01/01/2040		800		814
Series B, Rev., 4.00%, 01/01/2051		1,250		1,229
Series B, Rev., 5.00%, 01/01/2037		1,000		1,117
Series B, Rev., 5.00%, 01/01/2046		1,500		1,609
Series C, Rev., 5.00%, 01/01/2027		2,000		2,072
Central Texas Regional Mobility Authority, Senior Lien,
Series B, Rev., 4.00%, 01/01/2039		600		612
Series B, Rev., 4.00%, 01/01/2040		500		508
Series B, Rev., 5.00%, 01/01/2024		230		230
Series B, Rev., 5.00%, 01/01/2045		3,595		3,832
Series D, Rev., 5.00%, 01/01/2033		480		550
Series E, Rev., 5.00%, 01/01/2045		2,665		2,841
Central Texas Regional Mobility Authority, Subordinated, Series F, Rev., BAN, 5.00%, 01/01/2025		4,770		4,809
Central Texas Turnpike System, Subordinate,
Series C, Rev., 5.00%, 08/15/2031		1,000		1,004
Series C, Rev., 5.00%, 08/15/2042		5,000		5,005
Chapel Hill Independent School District/Smith County, GO, PSF-GTD, 5.00%, 02/15/2039		700		803
City Austin, Certificates Obligation,
GO, 5.00%, 09/01/2032		1,750		2,030
GO, 5.00%, 09/01/2033		1,100		1,275
GO, 5.00%, 09/01/2034		1,750		2,026
City of Arlington, Tax Increment Reinvestment Zone, Tax Allocation, 4.00%, 08/15/2041		1,000		939
City of Austin Electric Utility Revenue, Series A, Rev., 5.00%, 11/15/2031		1,595		1,646
City of Austin Water & Wastewater System Revenue,
Rev., 4.00%, 11/15/2036		185		197
Rev., 4.00%, 11/15/2041		1,510		1,542
Rev., 5.00%, 11/15/2039		500		501
Rev., 5.00%, 11/15/2041		7,000		7,270
Series C, Rev., 5.00%, 11/15/2025 (p)		510		531
Series C, Rev., 5.00%, 11/15/2032		1,000		1,151
City of Austin, Airport System Revenue,
Rev., AMT, 5.00%, 11/15/2029		1,400		1,535
Rev., AMT, 5.00%, 11/15/2040		1,500		1,631
Series B, Rev., AMT, 5.00%, 11/15/2030		1,000		1,092
Series B, Rev., AMT, 5.00%, 11/15/2033		1,130		1,170
Series B, Rev., AMT, 5.00%, 11/15/2036		3,335		3,492


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
City of Austin, Electric Utility Revenue,
Series A, Rev., 5.00%, 11/15/2038		1,265		1,290
Series B, Rev., 5.00%, 11/15/2037		1,505		1,670
Series B, Rev., 5.00%, 11/15/2038		1,340		1,482
City of Austin, Refunding & Public Improvement, GO, 5.00%, 09/01/2033		620		719
City of Corpus Christi, Utility System Revenue,
Rev., 5.00%, 07/15/2028		1,885		2,083
Rev., 5.00%, 07/15/2039		1,000		1,142
City of Dallas Housing Finance Corp., Estates at Ferguson, Rev., 5.00%, 07/01/2042 (z)		1,010		1,059
City of Dallas Waterworks & Sewer System Revenue,
Series A, Rev., 5.00%, 10/01/2032		1,250		1,318
Series A, Rev., 5.00%, 10/01/2047		5,000		5,619
Series C, Rev., 4.00%, 10/01/2031		2,000		2,112
City of Dallas, Fair Park Venue Project Senior, Special Tax, 6.25%, 08/15/2053 (e) (z)		3,500		3,554
City of Dallas, Hutchison Convention Center, Special Tax, 6.00%, 08/15/2053 (e) (z)		9,720		9,876
City of Dallas, Waterworks & Sewer System Revenue,
Series C, Rev., 4.00%, 10/01/2039		7,470		7,747
Series C, Rev., 4.00%, 10/01/2040		1,000		1,031
Series C, Rev., 5.00%, 10/01/2029		1,125		1,287
City of Denton, GO, 2.00%, 02/15/2032		1,345		1,195
City of Denton, Certificates Obligation,
GO, 2.00%, 02/15/2034		2,565		2,199
GO, 2.00%, 02/15/2035		2,625		2,212
City of Eagle Pass, Certificates Obligation,
GO, AGM, 4.00%, 03/01/2039		500		510
GO, AGM, 4.00%, 03/01/2041		680		693
City of Fort Worth, GO, 4.00%, 03/01/2030		1,150		1,210
City of Haslet, Improvement Area Second Project, Special Assessment, 3.25%, 09/01/2031 (e)		500		436
City of Houston Airport System Revenue, Series C, Rev., AMT, 5.00%, 07/01/2028		470		506
City of Houston Airport System Revenue, Subordinated Lien,
Series A, Rev., AMT, 4.00%, 07/01/2035		1,000		1,029
Series A, Rev., AMT, 4.00%, 07/01/2040		3,570		3,585
Series A, Rev., AMT, 5.00%, 07/01/2024		1,000		1,006
Series A, Rev., AMT, 5.00%, 07/01/2028		1,890		2,035
Series A, Rev., AGM, AMT, 5.00%, 07/01/2028		550		593
Series A, Rev., AGM, AMT, 5.00%, 07/01/2029		1,580		1,731
Series A, Rev., AMT, 5.00%, 07/01/2034		2,500		2,759
Series A, Rev., AGM, AMT, 5.00%, 07/01/2037		2,000		2,247
Series B, Rev., 5.00%, 07/01/2026		1,000		1,058
Series B, Rev., 5.00%, 07/01/2027		1,995		2,158


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
City of Houston Airport System Revenue, United Airlines, Inc. Terminal, Rev., AMT, 4.00%, 07/15/2041		4,365		3,887
City of Houston Combined Utility System Revenue, First Lien, Series A, Rev., 4.00%, 11/15/2033		1,200		1,298
City of Houston Combined Utility System Revenue, Subordinate First Lien, Rev., 5.00%, 11/15/2034		1,000		1,049
City of Houston Hotel Occupancy Tax & Special Revenue, Convention & Entertainment,
Rev., 4.00%, 09/01/2024		150		151
Rev., 4.00%, 09/01/2025		45		45
Rev., 4.00%, 09/01/2029		280		298
City of Houston, Airport System Revenue, Special Facilities, United Airlines, Inc., Rev., AMT, 5.00%, 07/15/2028		600		604
City of Houston, Combined Utility System Revenue, First Lien,
Series A, Rev., 5.00%, 11/15/2029		1,100		1,247
Series C, Rev., 5.00%, 11/15/2029		3,100		3,523
City of Justin, Timberbrook Public Improvement, Special Assessment, 3.00%, 09/01/2031 (e)		315		279
City of Kyle, 6 Creeks Public Improvement, Special Assessment, 2.63%, 09/01/2025 (e)		242		232
City of Lewisville, Waterworks & Sewer System Revenue, Rev., 5.00%, 02/15/2038		1,015		1,171
City of Lubbock Electric Light & Power System Revenue,
Rev., 5.00%, 04/15/2026		800		840
Rev., 5.00%, 04/15/2027		785		842
Rev., 5.00%, 04/15/2028		900		985
Rev., AGM, 5.00%, 04/15/2035		1,345		1,596
Rev., AGM, 5.00%, 04/15/2038		1,045		1,202
Rev., AGM, 5.00%, 04/15/2040		1,200		1,361
City of McKinney Waterworks & Sewer System Revenue, Rev., 5.00%, 03/15/2026		350		367
City of Palestine, Certificates Obligation, GO, AGM, 4.00%, 02/15/2046		5,000		4,888
City of San Antonio Electric & Gas Systems Revenue,
Rev., 4.00%, 02/01/2030		1,660		1,774
Rev., 5.00%, 02/01/2025		3,000		3,067
Rev., 5.00%, 02/01/2033		1,795		1,907
Rev., 5.00%, 02/01/2035		1,650		1,747
Series B, Rev., 5.25%, 02/01/2040		3,000		3,507
City of San Antonio Electric & Gas Systems Revenue, Junior Lien,
Rev., 4.00%, 02/01/2037		1,000		1,047


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Rev., (SIFMA Municipal Swap Index + 0.87%), 4.74%, 02/01/2048 (aa)		3,000		2,995
Series D, Rev., 1.13%, 12/01/2045 (z)		6,510		5,930
City of San Antonio, Electric & Gas Systems Revenue, Rev., 4.00%, 02/01/2027		2,000		2,074
Cleburne Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2036		1,065		1,103
Clifton Higher Education Finance Corp., Idea Public School,
Rev., PSF-GTD, 5.00%, 08/15/2026		1,840		1,939
Series A, Rev., 4.00%, 08/15/2035		415		413
Series A, Rev., 4.00%, 08/15/2047		1,300		1,146
Series T, Rev., PSF-GTD, 4.00%, 08/15/2036		700		739
Series T, Rev., PSF-GTD, 4.00%, 08/15/2047		1,175		1,176
Series T, Rev., PSF-GTD, 5.00%, 08/15/2024		65		66
Series T, Rev., PSF-GTD, 5.00%, 08/15/2025		70		72
Series T, Rev., PSF-GTD, 5.00%, 08/15/2026		55		58
Series T, Rev., PSF-GTD, 5.00%, 08/15/2027		30		32
Series T, Rev., PSF-GTD, 5.00%, 08/15/2028		40		44
Series T, Rev., PSF-GTD, 5.00%, 08/15/2030		215		246
Clifton Higher Education Finance Corp., International Leadership of Texas,
Rev., PSF-GTD, 4.00%, 08/15/2024		115		116
Rev., PSF-GTD, 4.00%, 08/15/2025		145		147
Collin County Community College District, Series A, GO, 4.00%, 08/15/2035		1,600		1,680
Conroe Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2024		750		752
County of Bexar,
GO, 4.00%, 06/15/2040		11,085		11,026
GO, 5.00%, 06/15/2043 (p)		2,000		2,104
County of Collin, GO, 5.00%, 02/15/2029		2,000		2,246
County of Dallas, Certificates of Obligation, GO, 5.00%, 08/15/2041		2,550		2,888
County of Denton, GO, 5.00%, 07/15/2027		1,000		1,087
County of El Paso, Series A, GO, 5.00%, 02/15/2027		1,430		1,498
County of Harris, Series A, GO, 5.00%, 10/01/2029		1,150		1,313
County of Harris, Subordinate, Series A, GO, 5.00%, 08/15/2026		1,750		1,859
County of Nueces, GO, 5.00%, 02/15/2029		460		511
County of Williamson,
GO, 5.00%, 02/15/2030 (p)		3,845		3,940
GO, 5.00%, 02/15/2031 (p)		4,045		4,144
GO, 5.00%, 02/15/2032 (p)		2,125		2,177


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
Cypress-Fairbanks Independent School District, School Building, Series B2, GO, PSF-GTD, 0.28%, 02/15/2040 (z)		1,350		1,324
Dallas Area Rapid Transit,
Series A, Rev., 5.00%, 12/01/2029 (p)		1,890		1,970
Series A, Rev., 5.00%, 12/01/2046 (p)		2,000		2,084
Dallas Area Rapid Transit, Senior Lien,
Rev., 5.00%, 12/01/2032		1,000		1,140
Series B, Rev., 4.00%, 12/01/2051		2,000		1,969
Dallas Fort Worth International Airport,
Series B, Rev., 5.00%, 11/01/2050		4,000		4,367
Series C, Rev., AMT, 5.00%, 11/01/2030		5,000		5,560
Dallas Fort Worth International Airport, Dallas Fort Worth International,
Rev., 5.00%, 11/01/2025		1,825		1,897
Rev., 5.00%, 11/01/2026		2,850		3,043
Dallas Independent School District, Series B, GO, PSF-GTD, 3.00%, 02/15/2034		1,370		1,346
Del Valle Independent School District,
GO, PSF-GTD, 4.00%, 06/15/2031		3,085		3,326
GO, PSF-GTD, 4.00%, 06/15/2032		3,405		3,656
GO, PSF-GTD, 4.00%, 06/15/2033		5,740		6,142
GO, PSF-GTD, 4.00%, 06/15/2034		3,280		3,499
Denton Independent School District,
GO, PSF-GTD, 5.00%, 08/15/2027		600		653
GO, PSF-GTD, 5.00%, 08/15/2034		950		1,156
GO, PSF-GTD, 5.00%, 08/15/2053		13,130		14,529
Forney Independent School District,
GO, PSF-GTD, 5.00%, 08/15/2040		600		679
GO, PSF-GTD, 5.00%, 08/15/2043		2,075		2,322
Series A, GO, PSF-GTD, 3.00%, 08/15/2037		3,585		3,472
Series A, GO, PSF-GTD, 3.00%, 08/15/2038		4,950		4,664
Fort Bend Grand Parkway Toll Road Authority,
Series A, Rev., CNTY GTD, 5.00%, 03/01/2026		750		786
Series A, Rev., CNTY GTD, 5.00%, 03/01/2027		285		306
Series A, Rev., CNTY GTD, 5.00%, 03/01/2029		390		437
Series A, Rev., CNTY GTD, 5.00%, 03/01/2030		1,000		1,141
Fort Bend Independent School District,
Series B, GO, PSF-GTD, 0.72%, 08/01/2051 (z)		625		590
Series B, GO, PSF-GTD, 0.88%, 08/01/2050 (z)		845		808
Series B, GO, PSF-GTD, 3.65%, 08/01/2052 (z)		4,000		3,994
Fort Worth Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040		1,750		2,007


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Frisco Independent School District, school Building, Series A, GO, PSF-GTD, 4.00%, 08/15/2032		2,140		2,184
Galveston Public Facility Corp., The Oleanders at Broadway, Rev., HUD, 0.47%, 08/01/2025 (z)		560		546
Garland Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2037		500		595
Series A, GO, PSF-GTD, 5.00%, 02/15/2037		3,500		4,162
Georgetown Independent School District, GO, PSF-GTD, 2.00%, 08/15/2034		6,155		5,326
Goose Creek Consolidated Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		900		943
Grand Parkway Transportation Corp., Grand Parkway System, Rev., 4.00%, 10/01/2045		10,125		10,126
Greater Texoma Utility Authority, City of Sherman Project,
Rev., BAM, 5.00%, 10/01/2037 (w)		3,060		3,567
Rev., BAM, 5.00%, 10/01/2038 (w)		1,450		1,674
Rev., BAM, 5.00%, 10/01/2049 (w)		10,000		10,933
Series A, Rev., BAM, 4.00%, 10/01/2043		1,940		1,947
Gregory-Portland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2025		1,000		1,024
Hale Center Education Facilities Corp., Wayland Baptist University Project, Rev., 5.00%, 03/01/2034		1,265		1,365
Harlandale Independent School District, GO, PSF-GTD, 0.75%, 08/15/2045 (z)		465		448
Harlandale Independent School District, Variable Maintenance Tax Notes, GO, BAM, 2.00%, 08/15/2040 (z)		350		347
Harris County Cultural Education Facilities Finance Corp., Medical Facilities Mortgage Revenue, Rev., (United States SOFR * 0.70 + 0.73%), 4.45%, 11/15/2046 (aa)		1,130		1,130
Harris County Cultural Education Facilities Finance Corp., Texas Children’s Hospital,
Rev., 4.00%, 10/01/2041		4,205		4,190
Rev., 5.00%, 10/01/2051 (z)		3,000		3,464
Harris County Cultural Education Facilities Finance Corp., Texas Children’s Hospital,
Rev., BAM, 4.00%, 10/01/2037		1,790		1,825
Rev., 4.00%, 10/01/2038		1,000		1,006
Rev., BAM, 4.00%, 10/01/2038		1,000		1,015
Harris County Cultural Education Facilities Finance Corp., Texas Medical Center, Series A, Rev., 0.90%, 05/15/2050 (z)		6,315		6,060
Harris County Flood Control District, Series A, GO, 5.00%, 10/01/2029		1,700		1,939


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
Harris County Flood Control District, Sustainability Bond,
Series A, GO, 4.00%, 09/15/2041		2,500		2,586
Series A, GO, 4.00%, 09/15/2048		9,000		8,978
Harris County Industrial Development Corp., Energy Transfer, Rev., 4.05%, 11/01/2050 (z)		2,000		2,044
Harris County, Toll Road Authority, First Lien, Rev., 5.00%, 08/15/2030		1,200		1,387
Harris County, Toll Road Authority, Senior Lien, Series A, Rev., 5.00%, 08/15/2024		100		101
Hays Consolidated Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2025		480		491
GO, PSF-GTD, 5.00%, 02/15/2038		1,000		1,145
GO, PSF-GTD, 5.00%, 02/15/2040		1,305		1,478
Hidalgo County Regional Mobility Authority, Senior Lien,
Series A, Rev., 5.00%, 12/01/2032		1,000		1,061
Series A, Rev., 5.00%, 12/01/2033		575		608
Series A, Rev., 5.00%, 12/01/2034		750		787
Housing Options, Inc., The Oaks Project, Rev., 0.50%, 08/01/2041 (z)		240		228
Houston Higher Education Finance Corp., Houston Baptist University, Rev., 4.00%, 10/01/2051		1,100		880
Houston Higher Education Finance Corp., Kipp Inc, Rev., PSF-GTD, 4.00%, 08/15/2040		2,500		2,509
Houston Housing Finance Corp., Summerdale Apartments, Rev., 5.00%, 08/01/2041 (z)		315		325
Houston Independent School District, Series C, GO, PSF-GTD, 4.00%, 06/01/2039 (z)		4,350		4,406
Hutto Independent School District, GO, PSF-GTD, 5.00%, 08/01/2048		2,400		2,661
Irving Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2028		500		550
GO, PSF-GTD, 5.00%, 02/15/2035		2,300		2,739
GO, PSF-GTD, 5.00%, 02/15/2038		4,375		5,049
GO, PSF-GTD, 5.00%, 02/15/2041		250		284
Jarrell Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037		725		834
Katy Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2036		1,340		1,540
Series B, GO, PSF-GTD, 5.00%, 02/15/2036		2,475		2,576
Kilgore Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		450		471
Klein Independent School District, GO, PSF-GTD, 4.00%, 08/01/2046		4,000		4,073
Lake Houston Redevelopment Authority, Rev., 4.00%, 09/01/2035		250		246


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Lake Travis Independent School District, School Building, Series A, GO, PSF-GTD, 5.00%, 02/15/2043 (p)		1,090		1,170
Lamar Consolidated Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2029		150		168
Series A, GO, PSF-GTD, 5.00%, 02/15/2058		4,335		4,759
Leander Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		1,430		1,500
Leander Independent School District, School Building, Series C, GO, PSF-GTD, Zero Coupon, 08/15/2049 (p)		3,930		973
Lewisville Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024		4,000		4,053
Llano Independent School District, GO, PSF-GTD, 5.00%, 02/15/2032		1,350		1,403
Love Field Airport Modernization Corp., Southwest Airlines Co Project, Rev., AMT, 5.00%, 11/01/2028		1,710		1,710
Lower Colorado River Authority,
Rev., AGM, 4.00%, 05/15/2033		500		504
Rev., AGM, 5.00%, 05/15/2031		4,795		5,586
Rev., AGM, 5.00%, 05/15/2032		5,000		5,812
Series A, Rev., 5.00%, 05/15/2027		420		453
Series B, Rev., 5.00%, 05/15/2039 (z)		3,000		3,199
Lower Colorado River Authority, LCRA Transmission Services,
Rev., 5.00%, 05/15/2027		700		755
Rev., 5.00%, 05/15/2030		1,000		1,142
Lower Colorado, River Authority, Transmission Services Contract, Rev., 5.00%, 05/15/2029		100		112
Mansfield Independent School District, GO, PSF-GTD, 3.00%, 08/01/2036		1,000		975
Matagorda County Navigation District No. 1, Central Power & Light, Rev., AMT, 4.25%, 05/01/2030		825		826
Matagorda County Navigation District No. 1, Central Power & Light Co., Rev., 2.60%, 11/01/2029		3,500		3,211
Medina Valley Independent School District,
GO, PSF-GTD, 0.82%, 02/15/2051 (z)		445		417
GO, PSF-GTD, 5.00%, 02/15/2040		3,000		3,415
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Contractual Obligation, Series B, Rev., 5.00%, 11/01/2025		435		453
Mission Economic Development Corp., Waste Management, Rev., AMT, 4.50%, 05/01/2046 (z)		4,385		4,386
New Caney Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037		625		737


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
New Hope Cultural Education Facilities Finance Corp., Children’s Health System, Series A, Rev., 5.00%, 08/15/2047		1,000		1,033
New Hope Cultural Education Facilities Finance Corp., NCCD College Station Project, Series A, Rev., 5.00%, 07/01/2035		1,500		1,361
New Hope Cultural Education Facilities Finance Corp., Westminster Project, Rev., 4.00%, 11/01/2049		100		85
Newark Higher Education Finance Corp., Austin Achieve Public Schools, Rev., PSF-GTD, 5.00%, 06/15/2038		1,365		1,556
North Central Texas Housing Finance Corp., Bluebonnet Ridge Apartment, Rev., 0.38%, 08/01/2040 (z)		505		493
North Fort Bend Water Authority, Rev., BAM, 5.00%, 12/15/2026		1,520		1,622
North Texas Municipal Water District Water System Revenue, Rev., 3.00%, 09/01/2041		575		492
North Texas Tollway Authority,
Series A, Rev., 5.00%, 01/01/2029		1,800		1,882
Series B, Rev., 5.00%, 01/01/2027		1,150		1,173
North Texas Tollway Authority, Capital Appreciation, First Tier, Rev., AGC, Zero Coupon, 01/01/2030		1,500		1,249
North Texas Tollway Authority, First Tier Bonds,
Series A, Rev., 4.00%, 01/01/2035		2,000		2,092
Series A, Rev., 5.00%, 01/01/2037		1,500		1,714
Series A, Rev., 5.00%, 01/01/2040		4,000		4,505
North Texas Tollway Authority, Second Tier,
Rev., 4.25%, 01/01/2049		4,000		4,011
Rev., 5.00%, 01/01/2048		2,335		2,441
Series B, Rev., 4.00%, 01/01/2035		2,100		2,210
Series B, Rev., 4.00%, 01/01/2036		1,000		1,044
Series B, Rev., 4.00%, 01/01/2037		1,000		1,036
Series B, Rev., 5.00%, 01/01/2027		215		223
Series B, Rev., 5.00%, 01/01/2033		1,000		1,064
North Texas Tollway Authority, Unrefunded First Tier, Series A, Rev., 5.00%, 01/01/2025		45		45
Northside Independent School District, GO, PSF-GTD, 0.70%, 06/01/2050 (z)		13,550		13,112
Northwest Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040		1,000		1,131
Northwest Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2042 (p)		4,515		4,733
Odessa Housing Finance Corp., Cove in Odessa Apartments, Rev., 4.20%, 03/01/2024 (z)		5,500		5,501
Odessa Junior College District, Consolidated Fund, Rev., AGM, 4.00%, 07/01/2026		1,015		1,045


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Pasadena Independent School District, GO, PSF-GTD, 5.00%, 02/15/2047		2,000		2,221
Pearland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		1,075		1,127
Pecos Barstow Toyah Independent School District, GO, PSF-GTD, 5.00%, 02/15/2027		300		322
Permanent University Fund—Texas A&M University System, Board Of Regents, Rev., 5.00%, 07/01/2039		1,500		1,707
Permanent University Fund—University of Texas System, Permanent University Fund Bonds, Rev., 5.00%, 07/01/2033		1,090		1,121
Plano Independent School District, GO, 5.00%, 02/15/2027		650		701
Port Authority of Houston of Harris County Texas,
Rev., 5.00%, 10/01/2026		850		906
Rev., 5.00%, 10/01/2028		1,250		1,392
Rev., 5.00%, 10/01/2029		1,250		1,420
Port Authority of Houston of Harris County Texas, First Lien,
Rev., 5.00%, 10/01/2025		950		987
Rev., 5.00%, 10/01/2048		8,500		9,415
Port Beaumont Navigation District, Jefferson Gulf Coast Energy,
Rev., AMT, 2.00%, 01/01/2027 (e)		550		498
Rev., AMT, 2.25%, 01/01/2029 (e)		800		685
Rev., AMT, 2.88%, 01/01/2041 (e)		120		79
Port of Beaumont Industrial Development Authority, Taxable Jefferson Gulf Coast Energy, Rev., 4.10%, 01/01/2028 (e)		3,000		2,494
Port of Corpus Christi Authority of Nueces County, Flint Hills Resources, Series A, Rev., VRDO, AMT, 4.65%, 01/02/2024 (e) (z)		16,200		16,200
Port of Port Arthur Navigation District, Motiva Enterprises, Rev., VRDO, 4.88%, 01/05/2024 (z)		13,600		13,600
Prosper Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2030		25		29
Rockwall Independent School District, GO, PSF-GTD, 5.00%, 02/15/2027		1,335		1,433
Royse City Independent School District, GO, PSF-GTD, 5.00%, 02/15/2039		1,000		1,155
San Antonio Education Facilities Corp., University of The Incarnate Word,
Rev., 4.00%, 04/01/2038		2,065		1,966
Rev., 4.00%, 04/01/2041		1,000		920
San Antonio Housing Trust Finance Corp., The Arbors at West Avenue, Rev., HUD, 1.45%, 03/01/2026 (z)		805		777
San Antonio Water System,
Series 2013F, Rev., 1.00%, 05/01/2043 (z)		6,000		5,462


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
Series C, Rev., 5.00%, 05/15/2046		6,670		7,231
San Antonio Water System, Junior Lien, Series A, Rev., 5.00%, 05/15/2043		3,500		3,732
San Marcos Consolidated Independent School District,
GO, PSF-GTD, 5.00%, 08/15/2027		1,830		1,987
GO, PSF-GTD, 5.00%, 08/15/2040		2,000		2,291
Socorro Independent School District, GO, PSF-GTD, 4.00%, 08/15/2040		2,575		2,596
Southwest Independent School District, GO, PSF-GTD, 5.00%, 02/01/2027		410		440
State of Texas, Series B, GO, 4.00%, 08/01/2030		60		61
State of Texas, Mobility Fund, Series B, GO, 5.00%, 10/01/2032		14,655		15,154
State of Texas, Public Finance Authority, GO, 5.00%, 10/01/2026		1,000		1,064
State of Texas, Water Financial Assistance,
GO, 5.00%, 08/01/2024		125		127
Series B, GO, 5.00%, 08/01/2037		1,000		1,023
Strategic Housing Finance Corp. of Travis County, ECG Yager LP, Rev., 0.46%, 09/01/2041 (z)		2,500		2,385
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health,
Rev., 4.00%, 11/15/2042		15,000		14,872
Series A, Rev., 5.00%, 11/15/2045		4,195		4,291
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health Project, Rev., 5.50%, 11/15/2047		12,415		13,798
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott and White Health,
Rev., 5.00%, 11/15/2052 (z)		4,455		4,879
Tarrant County Cultural Education Facilities Finance Corp., Christus Health, Series B, Rev., 5.00%, 07/01/2035		1,110		1,204
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center, Taxable,
Rev., AGM, 1.36%, 09/01/2024		800		780
Rev., AGM, 1.39%, 09/01/2025		600		565
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals of Dallas,
Rev., 5.00%, 10/01/2030		1,000		1,149
Rev., 5.00%, 10/01/2037		1,000		1,128
Texas Department of Housing & Community Affairs,
Series A, Rev., GNMA COLL, 4.00%, 03/01/2050		360		360
Series B, Rev., GNMA COLL, 6.00%, 03/01/2053		585		644


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Series C, Rev., GNMA COLL, 6.00%, 03/01/2054		1,825		2,025
Texas Department of Housing & Community Affairs, Aspen Park, Rev., 5.00%, 03/01/2041 (z)		1,225		1,246
Texas Department of Housing & Community Affairs, Palladium Simpson Stuart Apartments, Rev., 0.35%, 01/01/2025 (z)		1,290		1,290
Texas Department of Housing & Community Affairs, Social Bond, Series A, Rev., GNMA, 3.50%, 07/01/2052		1,110		1,091
Texas Department of Housing & Community Affairs, Social Bonds, Series A, Rev., GNMA, 3.00%, 01/01/2052		2,025		1,962
Texas Department of Housing & Community Affairs, Sustainable Bond, Series B, Rev., GNMA COLL, 5.75%, 01/01/2053		1,000		1,076
Texas Municipal Gas Acquisition & Supply Corp. III,
Rev., 5.00%, 12/15/2025		1,305		1,333
Rev., 5.00%, 12/15/2030		3,300		3,522
Rev., 5.00%, 12/15/2031		2,000		2,150
Texas Municipal Gas Acquisition & Supply Corp. IV,
Series A, Rev., 5.50%, 01/01/2054 (z)		10,560		11,386
Series B, Rev., 5.50%, 01/01/2054 (z)		8,655		9,619
Texas Municipal Gas Acquisition and Supply Corp. I, Series D, Rev., 6.25%, 12/15/2026		3,765		3,940
Texas Municipal Power Agency, Rev., AGM, 3.00%, 09/01/2038		500		447
Texas Private Activity Bond Surface Transportation Corp., Rev., AMT, 5.00%, 06/30/2058		20,555		20,771
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group,
Rev., 4.00%, 12/31/2030		3,970		4,121
Rev., 4.00%, 06/30/2033		1,000		1,033
Texas Private Activity Bond Surface Transportation Corp., Senior Lien Blueridge Transport,
Rev., AMT, 5.00%, 12/31/2045		3,000		3,018
Rev., AMT, 5.00%, 12/31/2050		2,000		2,007
Texas Private Activity Bond Surface Transportation Corp., Senior Lien Bond,
Rev., AMT, 5.38%, 06/30/2037		1,750		1,878
Rev., AMT, 5.38%, 06/30/2038		3,955		4,240
Rev., AMT, 5.50%, 06/30/2041		1,425		1,531
Rev., AMT, 5.50%, 06/30/2043		2,750		2,949
Texas State Affordable Housing Corp., Juniper Creek Apartments, Rev., 3.75%, 07/01/2044 (z)		485		487


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Texas — continued
Texas State Affordable Housing Corp., Norman Commons, Rev., 3.63%, 01/01/2045 (z)		565		568
Texas Transportation Commission, Transportation Commission Mobility, GO, 0.65%, 10/01/2041 (z)		4,500		4,184
Texas Water Development Board,
Rev., 5.00%, 08/01/2025		1,300		1,347
Rev., 5.00%, 08/01/2026		2,250		2,390
Series A, Rev., 5.00%, 10/15/2028		115		129
Texas Water Development Board, Master Trust, Rev., 4.00%, 10/15/2033		1,000		1,082
Texas Water Development Board, Revolving Fund,
Rev., 4.00%, 08/01/2038		500		521
Rev., 5.00%, 08/01/2024		250		253
Rev., 5.00%, 08/01/2028		625		696
Series A, Rev., 5.00%, 10/15/2028		100		111
Texas Water Development Board, State Revolving Fund,
Rev., 4.00%, 08/01/2037		2,015		2,119
Rev., 5.00%, 08/01/2027		2,835		3,085
Texas Water Development Board, State Water Implementation Fund,
Rev., 3.00%, 10/15/2033		2,000		1,992
Series A, Rev., 4.00%, 10/15/2033		1,900		1,969
Series A, Rev., 5.00%, 04/15/2026		100		106
Series A, Rev., 5.00%, 10/15/2030		500		519
Series A, Rev., 5.00%, 10/15/2047		2,480		2,594
Series B, Rev., 5.00%, 04/15/2049		11,535		12,255
Texas Water Development Board, State Water Implementation Revenue, Rev., 5.25%, 10/15/2046		2,000		2,091
Tomball Independent School District, School Building, Series B2, GO, PSF-GTD, 0.26%, 02/15/2039 (z)		3,055		2,996
Travis County Housing Finance Corp., Airport Gateway Apartments, Rev., 4.13%, 06/01/2045 (z)		190		192
Trinity River Authority Central Regional Wastewater System Revenue, Rev., 5.00%, 08/01/2029		1,500		1,701
University of Houston,
Series A, Rev., 5.00%, 02/15/2034		2,000		2,356
Series A, Rev., 5.00%, 02/15/2041		2,000		2,248
University of Texas, Series C, Rev., 5.00%, 08/15/2028		100		112
Uptown Development Authority,
Tax Allocation, 4.00%, 09/01/2033		400		401
Tax Allocation, 4.00%, 09/01/2035		995		983
Waco Educational Finance Corp., Baylor University Issue,
Rev., 5.00%, 03/01/2035		1,500		1,713
Series A, Rev., 4.00%, 03/01/2036		750		778


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Texas — continued
Waller Consolidated Independent School District,
GO, BAM, 5.00%, 02/15/2040		2,800		3,173
GO, BAM, 5.00%, 02/15/2042		6,550		7,344
Waxahachie Independent School District,
GO, PSF-GTD, 4.25%, 02/15/2053		1,670		1,701
GO, PSF-GTD, 5.00%, 02/15/2028		1,250		1,369
GO, PSF-GTD, 5.00%, 02/15/2029		1,370		1,534
GO, PSF-GTD, 5.00%, 02/15/2035		1,135		1,360


				870,019

Utah — 0.5%
Canyons School District, Series B, GO, SCH BD GTY, 5.00%, 06/15/2027		1,000		1,086
City of Salt Lake City Airport Revenue,
Series A, Rev., AMT, 5.00%, 07/01/2028		1,875		2,019
Series A, Rev., AMT, 5.00%, 07/01/2037		5,000		5,487
Series A, Rev., AMT, 5.00%, 07/01/2047		2,560		2,609
Series A, Rev., AMT, 5.25%, 07/01/2040		2,400		2,672
Series A, Rev., AMT, 5.25%, 07/01/2041		1,000		1,107
Series A, Rev., AMT, 5.25%, 07/01/2042		2,750		3,030
Series A, Rev., AMT, 5.25%, 07/01/2048		2,750		2,964
County of Utah, IHC Health Services, Inc., Series B, Rev., 5.00%, 05/15/2060 (z)		625		654
Downtown East Streetcar Sewer Public Infrastructure District, Senior Lien, Series A, GO, 6.00%, 03/01/2053 (e)		1,415		1,421
Intermountain Power Agency, Series A, Rev., 5.00%, 07/01/2030		500		579
Provo School District, GO, SCH BD GTY, 5.00%, 06/15/2028		2,000		2,220
Red Bridge Public Infrastructure District No. 1, Senior Infrastructure District, Series 1A, GO, 3.63%, 02/01/2035 (e)		600		500
State of Utah,
GO, 3.00%, 07/01/2034		2,000		1,966
GO, 5.00%, 07/01/2024		100		101
GO, 5.00%, 07/01/2030		1,000		1,129
Series B, GO, 5.00%, 07/01/2029		100		113
University of Utah (The), Series A, Rev., 5.00%, 08/01/2039		1,505		1,594
University of Utah, Board of Regents, Series A, Rev., 4.00%, 08/01/2040		1,750		1,804
Utah Housing Corp., Series A, Rev., GNMA/FNMA/FHLMC, 6.50%, 01/01/2054 (w)		1,445		1,613
Utah Housing Corp., Drawdown New City, Rev., HUD, 3.50%, 08/01/2025 (z)		900		898
Utah Telecommunication Open Infrastructure Agency,
Rev., 5.00%, 06/01/2025		115		118
Rev., 5.00%, 06/01/2027		130		139
Rev., 5.00%, 06/01/2031		210		241
Rev., 5.25%, 06/01/2035		700		827
Rev., 5.25%, 06/01/2037		2,250		2,627


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Utah — continued
Utah Transit Authority, Series A, Rev., 4.00%, 06/15/2036 (p)		1,500		1,527
Vineyard Redevelopment Agency, Tax Allocation, AGM, 5.00%, 05/01/2024		190		191


				41,236

Vermont — 0.0% (g)
Vermont Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.00%, 11/01/2049		250		250
Vermont Municipal Bond Bank, Vermont State Colleges System, Series A, Rev., 4.00%, 10/01/2034		250		265
Vermont Student Assistance Corp., Series A, Rev., AMT, 2.38%, 06/15/2039		475		433


				948

Virginia — 1.8%
Albemarle County Economic Development Authority, Westminster Canterbury of the Blue Ridge, Rev., 4.00%, 06/01/2035		1,365		1,345
Chesapeake Bay Bridge & Tunnel District, First Tier General Resolution, Rev., 5.00%, 07/01/2051		4,000		4,038
Commonwealth of Virginia, Series B, GO, 5.00%, 06/01/2027		2,000		2,123
County of Fairfax, Public Improvement, Series A, GO, 5.00%, 10/01/2031 (p)		945		995
County of Henrico Water & Sewer Revenue, Rev., 5.00%, 05/01/2046 (p)		1,000		1,055
Fairfax County Industrial Development Authority, Inova Health System Project, Rev., 5.00%, 05/15/2029		2,000		2,260
Fairfax County Redevelopment & Housing Authority, Arrowbrook Apartments Project, Rev., 0.41%, 01/01/2041 (w) (z)		225		225
Fairfax County Redevelopment & Housing Authority, Dominion Square North Project, Rev., 5.00%, 01/01/2045 (z)		2,250		2,380
Fairfax County Redevelopment & Housing Authority, One University Senior Apartments, Rev., 1.25%, 12/01/2025 (z)		4,680		4,570
FHLMC Multifamily VRD Certificates, Series A, Rev., 2.25%, 12/15/2037		965		765
Gloucester County Economic Development Authority, Waste Management Services, Rev., AMT, 3.95%, 09/01/2038 (z)		1,970		1,969
Hampton Roads Transportation Accountability Commission, Series A, Rev., BAN, 5.00%, 07/01/2027		6,310		6,817
Hampton Roads Transportation Accountability Commission, Senior Lien,
Series A, Rev., 5.00%, 07/01/2031		1,500		1,736


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Virginia — continued
Series A, Rev., 5.00%, 07/01/2038 (p)		1,000		1,101
Series A, Rev., 5.00%, 07/01/2039		2,100		2,351
Henrico County Economic Development Authority, Westminster Canterbury Richmond, Rev., 5.00%, 10/01/2042		100		105
Isle of Wight County Economic Development Authority, Riverside Health System,
Rev., AGM, 5.00%, 07/01/2036		750		847
Rev., AGM, 5.00%, 07/01/2037		500		558
Rev., AGM, 5.25%, 07/01/2043		1,620		1,810
Rev., AGM, 5.25%, 07/01/2053		5,000		5,463
James City County Economic Development Authority, Williamsburg Landing, Series A, Rev., 4.00%, 12/01/2035		150		136
Louisa Industrial Development Authority, Virginia Electric and Power Co. Project, Series B, Rev., 0.75%, 11/01/2035 (z)		2,125		1,978
Lynchburg Economic Development Authority, Centra Health Obligation Group,
Rev., 3.00%, 01/01/2051		4,750		3,537
Rev., 5.00%, 01/01/2029		700		757
Norfolk Airport Authority, Rev., 5.00%, 07/01/2038		1,175		1,270
Norfolk Redevelopment & Housing Authority, Braywood Manor Apartments Project, Rev., HUD, 5.00%, 05/01/2043 (z)		350		361
Norfolk Redevelopment & Housing Authority, Fort Norfolk Retirement Community Harbor, Rev., 4.38%, 01/01/2039		1,400		1,140
Southampton County Industrial Development Authority, PRTI-Virginia One LLC, Rev., AMT, 4.88%, 11/01/2053 (z)		4,940		4,952
Upper Occoquan Sewage Authority,
Rev., 4.00%, 07/01/2033 (p)		2,630		2,681
Rev., 5.00%, 07/01/2027 (p)		2,485		2,570
Virginia Beach Development Authority, Temps 50Sm Westminster Canterbury, Rev., 5.38%, 09/01/2029		2,000		2,051
Virginia Beach Development Authority, Westminster Canterbury, Rev., 5.00%, 09/01/2044		2,215		2,016
Virginia Beach Development Authority, Westminster Canterbury on Chesapeake Bay, Rev., 6.50%, 09/01/2043		3,300		3,514
Virginia College Building Authority, Series A, Rev., 4.00%, 02/01/2034		3,500		3,704
Virginia College Building Authority, 21st Century College & Equipment, Rev., 5.00%, 02/01/2028		1,000		1,105
Virginia College Building Authority, 21st Century College and Equipment,
Rev., 4.00%, 02/01/2040		1,815		1,870
Rev., 5.00%, 02/01/2029		1,000		1,130


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Virginia — continued
Virginia College Building Authority, 21st Century College and Equipment, Rev., 5.00%, 02/01/2033		3,750		4,307
Virginia College Building Authority, Marymount University Project, Series A, Rev., 5.00%, 07/01/2045 (e)		1,000		923
Virginia Housing Development Authority, Series G, Rev., 5.05%, 11/01/2047		1,750		1,884
Virginia Port Authority, Series B, Rev., AMT, 5.00%, 07/01/2045		5,000		5,090
Virginia Port Authority Commonwealth Port Fund, Rev., AMT, 5.00%, 07/01/2039 (p)		1,955		2,012
Virginia Public Building Authority, Bidding Group 1, Series A, Rev., 5.00%, 08/01/2033		1,000		1,203
Virginia Resources Authority, Virginia Pooled Financing, Rev., 5.00%, 11/01/2028		1,510		1,689
Virginia Resources Authority, Virginia Pooled Financing Program, Rev., 5.00%, 11/01/2028		1,000		1,123
Virginia Small Business Financing Authority, National Senior Campuses,
Series A, Rev., 5.00%, 01/01/2025		700		707
Series A, Rev., 5.00%, 01/01/2032		1,500		1,602
Virginia Small Business Financing Authority, Senior Lien 95 Express,
Rev., AMT, 5.00%, 07/01/2032		400		439
Rev., AMT, 5.00%, 07/01/2033		2,320		2,545
Rev., AMT, 5.00%, 01/01/2036		200		217
Rev., AMT, 5.00%, 07/01/2037		1,000		1,073
Virginia Small Business Financing Authority, Senior Lien, 495 Hot,
Rev., AMT, 5.00%, 06/30/2040		3,735		4,030
Rev., AMT, 5.00%, 06/30/2041		3,470		3,736
Rev., AMT, 5.00%, 12/31/2047		1,000		1,052
Virginia Small Business Financing Authority, Senior Lien, Elizabeth River,
Rev., AMT, 3.00%, 01/01/2041		8,740		7,169
Rev., AMT, 4.00%, 01/01/2030		3,125		3,178
Rev., AMT, 4.00%, 01/01/2033		1,500		1,528
Rev., AMT, 4.00%, 01/01/2034		2,250		2,289
Virginia Small Business Financing Authority, Transform 66 P3 Project,
Rev., AMT, 5.00%, 12/31/2047		1,800		1,809
Rev., AMT, 5.00%, 12/31/2052		8,425		8,452
Rev., AMT, 5.00%, 12/31/2056		3,000		3,005
Williamsburg Economic Development Authority, Williamsburg Properties LLC,
Rev., AGM, 4.00%, 07/01/2048		1,245		1,244
Rev., AGM, 5.25%, 07/01/2053		2,600		2,891
Wise County Industrial Development Authority, Electric and Power Company Project, Series A, Rev., 0.75%, 10/01/2040 (z)		4,500		4,189


				146,671


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Washington — 3.1%
Central Puget Sound Regional Transit Authority, Sustainable Bond, Series S1, Rev., 5.00%, 11/01/2035 (p)		1,085		1,129
Chelan County Public Utility District No. 1, Series C, Rev., AMT, 5.00%, 07/01/2026		1,285		1,349
City of Seattle Municipal Light & Power Revenue,
Rev., 4.00%, 09/01/2040		1,000		1,003
Series B, Rev., (SIFMA Municipal Swap Index + 0.25%), 4.12%, 05/01/2045 (aa)		2,000		1,945
City of Seattle Municipal Light & Power Revenue, Green Bond, Series A, Rev., 4.00%, 07/01/2040		1,300		1,335
City of Seattle, Drainage & Wastewater Revenue, Rev., 4.00%, 05/01/2044		945		946
City of Tacoma, Electric System Revenue, Series A, Rev., 4.00%, 01/01/2042		5,460		5,460
Clark County Public Utility District No. 1, Rev., 4.00%, 01/01/2034		665		714
County of Grant, GO, 5.25%, 12/01/2047		1,000		1,116
County of King,
GO, 5.00%, 12/01/2042		5,155		5,959
Series A, GO, 5.00%, 12/01/2034		1,335		1,557
County of King, Sewer Revenue, Rev., AGM, 5.00%, 01/01/2047 (p)		5,000		5,049
Energy Northwest Washington, Project 3 Electric Revenue, Series C, Rev., 5.00%, 07/01/2027		100		109
Energy Northwest, Columbia Generating Station, Rev., 4.00%, 07/01/2042		1,625		1,662
Energy Northwest, Project 1, Series A, Rev., 5.00%, 07/01/2028		4,550		4,697
Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project,
Rev., 5.00%, 01/01/2040		1,250		1,423
Series A, Rev., 5.00%, 01/01/2043 (p)		1,555		1,627
Grant County, Public Utility District No. 2, Electric Revenue,
Series 2017-O, Rev., 5.00%, 01/01/2047		4,950		5,220
Series R, Rev., 2.00%, 01/01/2044 (z)		1,500		1,473
HopeSource III Portfolio Projects, Rev., 1.25%, 01/01/2025 (z)		2,765		2,765
Jefferson County Public Hospital District No. 2, Jefferson Healthcare, Series A, Rev., 6.63%, 12/01/2043		7,500		7,829
King & Snohomish Counties School District No. 417 Northshore, GO, SCH BD GTY, 4.00%, 12/01/2032		1,000		1,004
King County Housing Authority, Rev., 5.00%, 11/01/2029		1,325		1,454
King County Public Hospital District No. 4, GO, 5.00%, 12/01/2038		1,000		1,006


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Washington — continued
King County School District No. 401 Highline, GO, SCH BD GTY, 5.00%, 12/01/2041		5,030		5,768
King County School District No. 405 Bellevue,
GO, SCH BD GTY, 3.00%, 12/01/2037		5,385		5,108
GO, SCH BD GTY, 3.00%, 12/01/2038		1,925		1,811
Pierce County School District No. 10 Tacoma, Social Bonds, Series B, GO, SCH BD GTY, 4.00%, 12/01/2042		10,000		10,200
Port of Seattle,
Series A, Rev., AMT, 5.00%, 05/01/2036		2,000		2,089
Series B, Rev., AMT, 5.00%, 05/01/2028		4,000		4,292
Port of Seattle Industrial Development Corp., Special Facilities Delta Airline, Rev., AMT, 5.00%, 04/01/2030		2,000		2,000
Port of Seattle, Intermediate Lien,
Rev., AMT, 5.00%, 08/01/2026		1,000		1,043
Rev., 5.00%, 02/01/2028		900		938
Rev., AMT, 5.00%, 04/01/2028		2,250		2,411
Rev., AMT, 5.00%, 08/01/2028		1,000		1,077
Rev., AMT, 5.00%, 04/01/2030		4,000		4,355
Rev., AMT, 5.00%, 04/01/2032		2,110		2,292
Rev., AMT, 5.00%, 04/01/2044		2,000		2,094
Rev., AMT, 5.00%, 08/01/2046		3,500		3,706
Rev., AMT, 5.00%, 08/01/2047		1,250		1,329
Rev., AMT, 5.50%, 08/01/2047		1,000		1,099
Series C, Rev., AMT, 5.00%, 05/01/2026		1,000		1,038
Series C, Rev., AMT, 5.00%, 05/01/2034		3,455		3,625
Series C, Rev., AMT, 5.00%, 08/01/2034		5,000		5,540
Seattle Housing Authority, Lam Bow Apartments Project, Rev., 1.25%, 06/01/2024		120		119
Seattle Housing Authority, Northgate Plaza Project, Rev., 1.00%, 06/01/2026		2,045		1,915
Skagit County Public Hospital District No. 1, Improvement Skagit Regional Health, Rev., 5.00%, 12/01/2031		2,145		2,185
Snohomish County School District No. 201 Snohomish, GO, SCH BD GTY, 5.00%, 12/01/2028		1,500		1,682
Spokane County School District No. 81 Spokane, Series C, GO, SCH BD GTY, 5.00%, 12/01/2034		2,000		2,177
State of Washington,
Series 2020A, GO, 5.00%, 08/01/2038		1,500		1,656
Series 2021A, GO, 5.00%, 06/01/2034		1,000		1,149
Series A1, GO, 5.00%, 08/01/2040		13,645		13,919
Series A3, GO, 5.00%, 08/01/2044		1,000		1,123
Series A, GO, 5.00%, 08/01/2036		1,475		1,684
Series A, GO, 5.00%, 08/01/2040		3,890		4,336
Series B, GO, 5.00%, 07/01/2025		75		77
Series B, GO, 5.00%, 07/01/2027		1,000		1,046
Series B, GO, 5.00%, 06/01/2035		4,760		5,454
Series B, GO, 5.00%, 02/01/2044		3,000		3,399
Series B, GO, 5.00%, 06/01/2045		2,900		3,276


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Washington — continued
Series D, GO, 4.00%, 07/01/2033		2,000		2,185
Series R, GO, 5.00%, 02/01/2031		1,000		1,173
Series R, GO, 5.00%, 08/01/2031		750		887
Series RC, GO, 5.00%, 08/01/2029		100		108
Series R-2015E, GO, 5.00%, 07/01/2025		1,000		1,023
Series R-2017A, GO, 5.00%, 08/01/2027		1,000		1,059
Series R-2017A, GO, 5.00%, 08/01/2034		1,840		1,939
Series R-2022B, GO, 4.00%, 02/01/2035		500		543
Series R-2022D, GO, 4.00%, 07/01/2028		3,140		3,356
State of Washington, Bid Group, Series C, GO, 5.00%, 02/01/2024		1,000		1,002
State of Washington, Bid Group 1, Series C, GO, 5.00%, 02/01/2028		1,490		1,643
State of Washington, MVFT/VRF GO Bonds,
Series F, GO, 5.00%, 06/01/2034		4,080		4,776
Series F, GO, 5.00%, 06/01/2038		2,775		3,155
State of Washington, Various Purpose,
Series 2015A1, GO, 5.00%, 08/01/2036		11,200		11,300
Series A, GO, 5.00%, 08/01/2041		10,000		10,777
Thurston County School District No. 111 Olympia, GO, SCH BD GTY, 5.00%, 12/01/2026		1,275		1,364
University of Washington,
Series B, Rev., 4.00%, 06/01/2035		3,075		3,099
Series C, Rev., 5.00%, 04/01/2026		1,500		1,583
Washington Health Care Facilities Authority, Multicare Health System, Series B, Rev., 5.00%, 08/15/2037		1,200		1,247
Washington Health Care Facilities Authority, Seattle Cancer Care Alliance,
Rev., 4.00%, 12/01/2040 (e)		860		850
Rev., 5.00%, 09/01/2045		1,000		1,062
Washington Health Care Facilities Authority, Unrefunded Providence Health, Rev., 5.00%, 10/01/2041		8,000		7,932
Washington Health Care Facilities Authority, Unrefunded Providence Health & Services, Rev., 5.00%, 10/01/2044		4,365		4,389
Washington Health Care Facilities Authority, Virginia Mason Medical Center, Rev., 5.00%, 08/15/2036		5,500		5,654
Washington State Housing Finance Commission,
Rev., 3.38%, 04/20/2037		1,423		1,286
Series A1, Rev., 3.50%, 12/20/2035		1,890		1,803
Series 2N, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 12/01/2050		685		668
Washington State Housing Finance Commission, Ardea at Totem Lake Apartments, Rev., 5.00%, 12/01/2043 (z)		4,900		5,088


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Washington — continued
Washington State Housing Finance Commission, Downtowner Apartments Project, Rev., LIQ: FHLMC, 3.70%, 07/01/2030		2,000		2,045
Washington State Housing Finance Commission, Social Bond, Series 2N, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2051		935		903


				248,742

West Virginia — 0.1%
Monongalia County Commission Excise Tax District, Series A, Rev., 4.13%, 06/01/2043 (e)		470		432
Monongalia County Commission Special District, Refunding and Improvement, University Town Center, Series A, Rev., 5.50%, 06/01/2037 (e)		1,050		1,080
Monongalia County Commission Special District, University Town Center, Series A, Rev., 5.75%, 06/01/2043 (e)		500		515
West Virginia Economic Development Authority, Appalachian Power Company Amos Project, Rev., AMT, 1.00%, 01/01/2041 (z)		2,765		2,589
West Virginia Hospital Finance Authority, Improvement, University Health System Obligation, Rev., 5.00%, 06/01/2052		2,000		2,068
West Virginia Parkways Authority, Senior Lien, Rev., 5.00%, 06/01/2038		1,000		1,133


				7,817

Wisconsin — 2.6%
City of Milwaukee, Promissory Notes,
Series N3, GO, AGM, 5.00%, 04/01/2031		5,500		6,246
Series N4, GO, 5.00%, 04/01/2030		10,150		11,251
City of Milwaukee, Sewerage System Revenue, Series S7, Rev., 5.00%, 06/01/2026		2,665		2,783
Milwaukee Metropolitan Sewerage District, Green Bond, Series A, GO, 3.00%, 10/01/2031		1,700		1,656
Milwaukee Metropolitan Sewerage District, Green Bond Climate Bond Certificate, GO, 4.00%, 10/01/2043		6,150		6,258
Public Finance Authority, A Challenge Foundation Academy,
Rev., 6.63%, 07/01/2043 (e)		700		719
Rev., 6.88%, 07/01/2053 (e)		1,650		1,694
Public Finance Authority, Carmelite System, Social Bonds, Rev., 5.00%, 01/01/2045		1,105		1,061
Public Finance Authority, Celanese Project, Series C, Rev., AMT, 4.30%, 11/01/2030		3,000		2,913


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Wisconsin — continued
Public Finance Authority, CFP3 Eastern Michigan University,
Rev., BAM, 5.00%, 07/01/2029		500		557
Rev., BAM, 5.25%, 07/01/2034		260		305
Rev., BAM, 5.25%, 07/01/2042		5,625		6,276
Rev., BAM, 5.38%, 07/01/2047		8,025		8,880
Rev., BAM, 5.50%, 07/01/2052		6,005		6,664
Public Finance Authority, CHF Wilmington LLC University, Rev., AGM, 5.00%, 07/01/2053		3,970		4,096
Public Finance Authority, Duke Energy Progress, Rev., 3.70%, 10/01/2046 (z)		1,500		1,533
Public Finance Authority, Ku Campus Development Corp. Project, Rev., 5.00%, 03/01/2041		3,000		3,058
Public Finance Authority, KU Campus Development Corp. Project, Rev., 5.00%, 03/01/2046		6,495		6,587
Public Finance Authority, Lenoir Rhyne University,
Rev., 5.00%, 04/01/2036		1,625		1,639
Rev., 5.00%, 04/01/2037		1,705		1,706
Public Finance Authority, Point College Prep Project,
Rev., 4.00%, 06/15/2030 (e)		200		187
Rev., 5.00%, 06/15/2041 (e)		250		226
Public Finance Authority, Renown Regional Medical Center Project,
Rev., 5.00%, 06/01/2026		500		517
Rev., 5.00%, 06/01/2027		425		447
Rev., 5.00%, 06/01/2028		600		640
Rev., 5.00%, 06/01/2034		1,000		1,087
Public Finance Authority, Senior Lien, Grand Hyatt San Antonio Hotel Acquisition Project, Rev., 5.00%, 02/01/2042		4,000		4,183
Public Finance Authority, Sky Harbour Capital LLC, Rev., AMT, 4.00%, 07/01/2036		815		705
Public Finance Authority, United Methodist Retirement, Rev., 4.00%, 10/01/2026		60		59
Public Finance Authority, Waste Management, Inc. Project,
Rev., AMT, 1.10%, 07/01/2029 (z)		1,445		1,345
Rev., AMT, 2.63%, 11/01/2025		5,000		4,887
State of Wisconsin,
Series 1, GO, 5.00%, 05/01/2027		2,400		2,602
Series 2, GO, 5.00%, 05/01/2034		1,000		1,218
Series 3, GO, 5.00%, 11/01/2027		1,000		1,082
Series 20212, GO, 5.00%, 05/01/2026		5,850		6,179
Series B, GO, 4.00%, 05/01/2039		500		516
Series B, GO, 5.00%, 05/01/2035		10,580		11,937
University of Wisconsin Hospitals & Clinics, Green Bond University of Wisconsin Hospital, Rev., 4.00%, 04/01/2035		440		465


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Wisconsin — continued
University of Wisconsin Hospitals & Clinics, Green Bonds, Rev., 4.00%, 04/01/2046		4,120		3,983
Wisconsin Center District, Capital Appreciation Senior Dedicated,
Series C, Rev., AGM, Zero Coupon, 12/15/2036		1,550		963
Series C, Rev., AGM, Zero Coupon, 12/15/2039		1,750		927
Series C, Rev., AGM, Zero Coupon, 12/15/2040		1,650		830
Series D, Rev., AGM, Zero Coupon, 12/15/2028		545		467
Wisconsin Center District, Junior Dedicated, Series D, Rev., AGM, Zero Coupon, 12/15/2045		8,500		3,292
Wisconsin Department of Transportation, Series A, Rev., 5.00%, 07/01/2027		1,675		1,822
Wisconsin Health & Educational Facilities Authority,
Rev., 5.00%, 10/01/2029		5,940		6,645
Rev., 5.00%, 10/01/2030		6,355		7,220
Wisconsin Health & Educational Facilities Authority Revenue, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2027		500		542
Wisconsin Health & Educational Facilities Authority Revenue, Marshfield Clinic Health System, Series B1, Rev., 5.00%, 02/15/2052 (z)		2,000		2,010
Wisconsin Health & Educational Facilities Authority, Advocate Aurora Health Care,
Rev., 4.00%, 08/15/2035		1,250		1,280
Rev., 4.00%, 08/15/2037		1,605		1,639
Rev., 4.00%, 08/15/2038		1,680		1,706
Wisconsin Health & Educational Facilities Authority, Advocate Aurora Healthcare, Rev., 5.00%, 08/15/2054 (z)		2,590		2,702
Wisconsin Health & Educational Facilities Authority, Ascension Health Alliance Senor, Rev., 4.00%, 11/15/2043		2,045		2,000
Wisconsin Health & Educational Facilities Authority, Ascension Health Credit Group,
Rev., 4.00%, 11/15/2039		10,500		10,538
Rev., 5.00%, 11/15/2035		4,500		4,678
Wisconsin Health & Educational Facilities Authority, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2036		1,500		1,553
Wisconsin Health & Educational Facilities Authority, Aspirus, Inc. Obligated Group, Rev., 5.00%, 08/15/2038		1,000		1,084
Wisconsin Health & Educational Facilities Authority, Bellin Memorial Hospital, Inc.,
Rev., 5.00%, 12/01/2045		2,500		2,675
Series B, Rev., 5.25%, 12/01/2048		3,000		3,206


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)
Municipal Bonds — continued
Wisconsin — continued
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Series A, Rev., 4.00%, 04/01/2039		2,710		2,757
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc.,
Series A, Rev., 5.00%, 04/01/2030		1,280		1,440
Series A, Rev., 5.00%, 04/01/2033		1,010		1,163
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc. Obligated,
Rev., 4.00%, 04/01/2039		5,000		4,978
Rev., 5.00%, 04/01/2035		1,325		1,399
Wisconsin Health & Educational Facilities Authority, Gundersen Health System,
Rev., 4.00%, 10/15/2035		545		574
Rev., 4.00%, 10/15/2036		2,100		2,193
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System,
Rev., 5.00%, 02/15/2051 (z)		2,600		2,694
Series B, Rev., 5.00%, 02/15/2042		1,000		1,012
Series B, Rev., 5.00%, 02/15/2046		4,550		4,581
Wisconsin Health & Educational Facilities Authority, ProHealth Care Obligation Group, Rev., 5.00%, 08/15/2039		1,000		1,000
Wisconsin Health & Educational Facilities Authority, The Medical College of Wisconsin, Rev., 4.00%, 12/01/2046		3,000		2,943
Wisconsin Health & Educational Facilities Authority, The Milwaukee Regional Medical Center, Rev., 5.00%, 04/01/2044		2,500		2,610
Wisconsin Housing & Economic Development Authority,
Series B, Rev., HUD, 0.50%, 11/01/2050 (z)		245		236
Series D, Rev., 4.00%, 03/01/2047		90		90
Wisconsin Housing & Economic Development Authority Housing Revenue, Series E, Rev., HUD, 3.88%, 11/01/2054 (z)		830		834
Wisconsin Housing & Economic Development Authority, Social Bond, Series A, Rev., 3.00%, 03/01/2052		810		782
Wisconsin Housing & Economic Development Authority, Social Bonds, Series C, Rev., GNMA/FHLMC/FNMA COLL, 3.00%, 09/01/2052		1,245		1,206


				208,418

Wyoming — 0.3%
Consolidated Municipalities Electric Power Systems Joint Powers Board, Rev., 5.25%, 06/01/2039		1,000		1,137
County of Laramie, Cheyenne Regional Medical Center, Rev., 4.00%, 05/01/2026		615		629


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)		VALUE ($)

Wyoming — continued
County of Lincoln, Pacificorp, Rev., VRDO, 5.55%, 01/05/2024 (z)		10,000		10,000
County of Sweetwater, Idaho Power Company Project, Rev., 1.70%, 07/15/2026		1,045		996
Wyoming Community Development Authority,
Series 2, Rev., 3.00%, 06/01/2049		1,050		1,022
Series 2, Rev., VRDO, LIQ: Royal Bank of Canada, 3.82%, 01/05/2024 (z)		3,000		3,000
Series 3, Rev., GNMA/FHLMC/FNMA COLL, 3.00%, 06/01/2050		1,350		1,320
Series 3, Rev., GNMA/FNMA/FHLMC, 4.70%, 12/01/2043		5,000		5,158


				23,262

Total Municipal Bonds (Cost $7,937,412)				7,838,877

Short-Term Investments — 2.5%
Municipal Bonds — 0.1% (t)
Chicago Midway International Airport, Senior, Series C, Rev., AMT, 5.00%, 01/01/2025 (w)		3,000		3,040
Miami-Dade County Housing Finance Authority, Council Towers Seniors Apartment, Rev., HUD, 5.00%, 02/01/2024		950		951
Puerto Rico Electric Power Authority, Series AAA, Rev., 5.25%, 07/01/2024 (d)		2,450		637
The School District of Philadelphia, Series A, Rev., TRAN, 5.00%, 06/28/2024		5,000		5,033

Total Municipal Bonds				9,661

Time Deposits — 2.4%
Citibank NA, 4.68%, 01/02/2024		1,883		1,883
Royal Bank of Canada, 4.68%, 01/02/2024		25,252		25,252
Sumitomo Mitsui Banking Corp., 4.68%, 01/02/2024		162,589		162,589

Total Time Deposits				189,724

Total Short-Term Investments (Cost $201,183)				199,385


Total Investments — 99.7% (Cost — $8,139,461)				8,038,734

Other Assets in Excess of Liabilities — 0.3%				26,896


NET ASSETS — 100.0%			$	8,065,630

Percentages indicated are based on net assets.


AGC		— Insured by Assured Guaranty Corp.
AGM		— Insured by Assured Guaranty Municipal Corp.
AMBAC		— Insured by American Municipal Bond Assurance Corp.
AMT		— Alternative Minimum Tax
BAM		— Insured by Build America Mutual
BAN		— Bond Anticipation Note
CNTY		— County
COLL		— Collateral
COP		— Certificate of Participation
CR		— Custodial Receipts
FHA		— Federal Housing Administration
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GAN		— Grant Anticipation Note
GNMA		— Government National Mortgage Association
GO		— General Obligation
GTD		— Guaranteed
HUD		— U.S. Department of Housing and Urban Development
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
LIQ		— Liquidity Agreement
NATL		— Insured by National Public Finance Guarantee Corp.
PSF		— Permanent School Fund
Q-SBLF		— Qualified School Bond Loan Fund
Rev.		— Revenue
SCH BD GTY		— School Bond Guaranty
SIFMA		— Securities Industry and Financial Markets Association


SOFR		— Secured Overnight Financing Rate
SONYMA		— State of New York Mortgage Agency
TRAN		— Tax & Revenue Anticipation Note
VRDO		— Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of December 31, 2023.
(d)		— Defaulted Security. Security has not paid its last interest payment and/or interest is not being accrued.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(p)		— Security is prerefunded or escrowed to maturity.
(t)		— The date shown represents the earliest of the next put date or final maturity date.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of December 31, 2023.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of December 31, 2023.
USD		— United States Dollar


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — 3.2%
Affirm Asset Securitization Trust, Series 2023-B, Class A, 6.82%, 09/15/2028 (e)		500		508
American Express Credit Account Master Trust,
Series 2022-2, Class A, 3.39%, 05/15/2027		1,350		1,322
Series 2022-3, Class A, 3.75%, 08/15/2027		1,005		988
AmeriCredit Automobile Receivables Trust,
Series 2023-1, Class A2A, 5.84%, 10/19/2026		263		263
Series 2023-1, Class A3, 5.62%, 11/18/2027		225		226
Series 2023-1, Class B, 5.57%, 03/20/2028		100		101
Series 2023-1, Class C, 5.80%, 12/18/2028		100		101
Series 2022-2, Class C, 5.32%, 04/18/2028		100		100
AMMC CLO 23 Ltd., (Cayman Islands), Series 2020-23A, Class A1R, (CME Term SOFR 3 Month + 1.30%), 6.70%, 10/17/2031 (e) (aa)		1,740		1,736
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (CME Term SOFR 3 Month + 1.31%), 6.71%, 01/15/2032 (e) (aa)		300		300
Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class A, 2.02%, 02/20/2027 (e)		1,150		1,073
BA Credit Card Trust, Series 2023-A2, Class A2, 4.98%, 11/15/2028		175		177
BlueMountain CLO 2016-2 Ltd., (Cayman Islands), Series 2016-2A, Class A1R2, (CME Term SOFR 3 Month + 1.38%), 6.75%, 08/20/2032 (e) (aa)		14,500		14,457
BMW Vehicle Lease Trust,
Series 2023-1, Class A2, 5.27%, 02/25/2025		205		205
Series 2023-1, Class A3, 5.16%, 11/25/2025		775		774
BSPRT Issuer Ltd., (Cayman Islands), Series 2021-FL7, Class A, (CME Term SOFR 1 Month + 1.43%), 6.80%, 12/15/2038 (e) (aa)		520		510
Capital One Multi-Asset Execution Trust,
Series 2022-A1, Class A1, 2.80%, 03/15/2027		380		370
Series 2022-A2, Class A, 3.49%, 05/15/2027		1,710		1,678
Carlyle Global Market Strategies CLO 2015-5 Ltd., (Cayman Islands), Series 2015-5A, Class A1RR, (CME Term SOFR 3 Month + 1.34%), 6.76%, 01/20/2032 (e) (aa)		3,737		3,732


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

CarMax Auto Owner Trust,
Series 2021-4, Class D, 1.48%, 03/15/2028		735		670
Series 2023-1, Class A3, 4.75%, 10/15/2027		200		199
Carvana Auto Receivables Trust,
Series 2021-N1, Class A, 0.70%, 01/10/2028		123		117
Series 2022-P1, Class A3, 3.35%, 02/10/2027		537		527
Cedar Funding IX CLO Ltd., (Cayman Islands), Series 2018-9A, Class A1, (CME Term SOFR 3 Month + 1.24%), 6.66%, 04/20/2031 (e) (aa)		256		256
CIFC Funding Ltd., (Cayman Islands), Series 2013-2A, Class A1L2, (CME Term SOFR 3 Month + 1.26%), 6.66%, 10/18/2030 (e) (aa)		373		372
Credit Acceptance Auto Loan Trust,
Series 2021-3A, Class A, 1.00%, 05/15/2030 (e)		298		294
Series 2023-1A, Class A, 6.48%, 03/15/2033 (e)		810		819
Discover Card Execution Note Trust,
Series 2022-A3, Class A3, 3.56%, 07/15/2027		1,410		1,382
Series 2023-A2, Class A, 4.93%, 06/15/2028		205		207
Dryden CLO Ltd., (Jersey), Series 2022-113A, Class A1R, (CME Term SOFR 3 Month + 1.63%), 7.05%, 10/20/2035 (e) (aa)		500		499
Elmwood CLO 18 Ltd., (Cayman Islands), Series 2022-5A, Class AR, (CME Term SOFR 3 Month + 1.65%), 7.05%, 07/17/2033 (e) (aa)		250		250
Elmwood CLO VII Ltd., (Cayman Islands), Series 2020-4A, Class AR, (CME Term SOFR 3 Month + 1.63%), 7.05%, 01/17/2034 (e) (aa)		250		250
Exeter Automobile Receivables Trust, Series 2021-2A, Class C, 0.98%, 06/15/2026		162		160
First Investors Auto Owner Trust, Series 2022-2A, Class A, 6.26%, 07/15/2027 (e)		176		176
Flagship Credit Auto Trust, Series 2023-1, Class A3, 5.01%, 08/16/2027 (e)		350		348
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19%, 07/15/2031 (e)		850		832
Generate CLO 2 Ltd., (Cayman Islands), Series 2A, Class AR, (CME Term SOFR 3 Month + 1.41%), 6.82%, 01/22/2031 (e) (aa)		2,017		2,018
GM Financial Automobile Leasing Trust,
Series 2022-2, Class A3, 3.42%, 06/20/2025		840		835


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — continued
Series 2022-3, Class A3, 4.01%, 09/22/2025		514		511
Series 2023-1, Class A3, 5.16%, 04/20/2026		780		780
GREYWOLF CLO VI Ltd., (Cayman Islands), Series 2018-1A, Class A1, (CME Term SOFR 3 Month + 1.29%), 6.67%, 04/26/2031 (e) (aa)		2,457		2,455
Honda Auto Receivables Owner Trust, Series 2023-1, Class A2, 5.22%, 10/21/2025		611		610
Jamestown CLO VI-R Ltd., (Cayman Islands), Series 2018-6RA, Class A1, (CME Term SOFR 3 Month + 1.41%), 6.79%, 04/25/2030 (e) (aa)		786		784
KKR Static CLO 2 Ltd., (Cayman Islands), Series 2022-2A, Class A1, (CME Term SOFR 3 Month + 2.22%), 7.64%, 10/20/2031 (e) (aa)		9,905		9,912
Lendmark Funding Trust 2021-2, Series 2021-2A, Class A, 2.00%, 04/20/2032 (e)		915		816
Madison Park Funding XVII Ltd., (Cayman Islands), Series 2015-17A, Class AR2, (CME Term SOFR 3 Month + 1.26%), 6.67%, 07/21/2030 (e) (aa)		239		239
Madison Park Funding XVIII Ltd., (Cayman Islands), Series 2015-18A, Class ARR, (CME Term SOFR 3 Month + 1.20%), 6.61%, 10/21/2030 (e) (aa)		8,797		8,775
Magnetite VII Ltd., (Cayman Islands), Series 2012-7A, Class A1R2, (CME Term SOFR 3 Month + 1.06%), 6.46%, 01/15/2028 (e) (aa)		135		134
Mariner Finance Issuance Trust,
Series 2021-BA, Class A, 2.10%, 11/20/2036 (e)		895		808
Series 2022-AA, Class A, 6.45%, 10/20/2037 (e)		440		443
MF1 Ltd., (Cayman Islands), Series 2021-FL7, Class A, (CME Term SOFR 1 Month + 1.19%), 6.55%, 10/16/2036 (e) (aa)		248		243
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36%, 04/20/2062 (e)		487		441
Newark BSL CLO 1 Ltd., (Cayman Islands), Series 2016-1A, Class A1R, (CME Term SOFR 3 Month + 1.36%), 6.75%, 12/21/2029 (e) (aa)		594		593
NextGear Floorplan Master Owner Trust, Series 2023-1A, Class A2, 5.74%, 03/15/2028 (e)		310		315
OneMain Financial Issuance Trust,
Series 2019-2A, Class A, 3.14%, 10/14/2036 (e)		535		501
Series 2021-1A, Class A1, 1.55%, 06/16/2036 (e)		290		260


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Series 2022-3A, Class A, 5.94%, 05/15/2034 (e)		650		652
Pagaya AI Debt Trust, Series 2022-1, Class A, 2.03%, 10/15/2029 (e)		232		228
Palmer Square Loan Funding Ltd., (Cayman Islands), Series 2022-3A, Class A1A, (CME Term SOFR 3 Month + 1.82%), 7.21%, 04/15/2031 (e) (aa)		8,545		8,566
PenFed Auto Receivables Owner Trust, Series 2022-A, Class A3, 3.96%, 04/15/2026 (e)		779		773
Race Point VIII CLO Ltd., (Cayman Islands), Series 2013-8A, Class AR2, (CME Term SOFR 3 Month + 1.30%), 6.67%, 02/20/2030 (e) (aa)		3,698		3,691
Rad CLO 1 Ltd., (Cayman Islands), Series 2018-1A, Class AR, (CME Term SOFR 3 Month + 1.24%), 6.64%, 07/15/2031 (e) (aa)		313		312
Rad CLO 2 Ltd., (Cayman Islands), Series 2018-2A, Class AR, (CME Term SOFR 3 Month + 1.34%), 6.74%, 10/15/2031 (e) (aa)		250		250
Rad CLO 6 Ltd., (Cayman Islands), Series 2019-6A, Class A1, (CME Term SOFR 3 Month + 1.64%), 7.06%, 01/20/2033 (e) (aa)		440		440
Rad CLO 7 Ltd., (Cayman Islands), Series 2020-7A, Class A1, (CME Term SOFR 3 Month + 1.46%), 6.86%, 04/17/2033 (e) (aa)		250		250
RR 24 Ltd., (Bermuda), Series 2022-24A, Class A1AR, (CME Term SOFR 3 Month + 1.73%), 7.08%, 01/15/2036 (e) (aa)		450		449
Santander Consumer Auto Receivables Trust, Series 2020-BA, Class C, 1.29%, 04/15/2026 (e)		680		675
Santander Drive Auto Receivables Trust,
Series 2022-7, Class C, 6.69%, 03/17/2031		930		948
Series 2023-3, Class A2, 6.08%, 08/17/2026		248		249
Series 2023-3, Class A3, 5.61%, 10/15/2027		700		703
SCF Equipment Leasing LLC,
Series 2021-1A, Class A3, 0.83%, 08/21/2028 (e)		120		118
Series 2021-1A, Class B, 1.37%, 08/20/2029 (e)		1,000		955
Summer BidCo. BV, (Netherlands), Reg. S, 9.00% (cash), 11/15/2025 (v)	EUR	294		322
TCW CLO 2022-1 Ltd., (Cayman Islands), Series 2022-1A, Class A1, (CME Term SOFR 3 Month + 1.34%), 6.75%, 04/22/2033 (e) (aa)		500		498


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — continued
Tesla Auto Lease Trust,
Series 2023-A, Class A2, 5.86%, 08/20/2025 (e)		295		296
Series 2023-A, Class A3, 5.89%, 06/22/2026 (e)		255		256
TICP CLO IX Ltd., (Cayman Islands), Series 2017-9A, Class A, (CME Term SOFR 3 Month + 1.40%), 6.82%, 01/20/2031 (e) (aa)		744		744
Upstart Securitization Trust, Series 2021-5, Class A, 1.31%, 11/20/2031 (e)		147		146
Verizon Master Trust, Series 2022-7, Class A1A, 5.23%, 11/22/2027		265		265
Voya CLO 2014-2 Ltd., (Cayman Islands),
Series 2014-2A, Class A1RR, (CME Term SOFR 3 Month + 1.28%), 6.68%, 04/17/2030 (e) (aa)		3,167		3,160
Series 2016-1A, Class A1R, (CME Term SOFR 3 Month + 1.33%), 6.75%, 01/20/2031 (e) (aa)		7,212		7,205
Wellfleet CLO 2018-3 Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (CME Term SOFR 3 Month + 1.51%), 6.93%, 01/20/2032 (e) (aa)		7,600		7,571
Westlake Automobile Receivables Trust, Series 2022-2A, Class C, 4.85%, 09/15/2027 (e)		75		74

Total Asset-Backed Securities (Cost $106,818)				107,248

Collateralized Mortgage Obligations — 0.1%
Connecticut Avenue Securities Trust,
Series 2023-R01, Class 1M1, (United States 30 Day Average SOFR + 2.40%), 7.74%, 12/25/2042 (e) (aa)		322		328
Series 2023-R03, Class 2M1, (United States 30 Day Average SOFR + 2.50%), 7.84%, 04/25/2043 (e) (aa)		127		129
FHLMC Structured Agency Credit Risk Debt Notes, Series 2023-DNA2, Class M1A, (United States 30 Day Average SOFR + 2.10%), 7.44%, 04/25/2043 (e) (aa)		443		450
Verus Securitization Trust,
Series 2021-1, Class A1, 0.82%, 01/25/2066 (e) (z)		175		149
Series 2021-3, Class A1, 1.05%, 06/25/2066 (e) (z)		486		405
Series 2021-R2, Class A1, 0.92%, 02/25/2064 (e) (z)		614		540
Series 2021-R3, Class A1, 1.02%, 04/25/2064 (e) (z)		301		268

Total Collateralized Mortgage Obligations (Cost $2,468)				2,269


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Commercial Mortgage-Backed Securities — 0.1%
BANK5, Series 2023-5YR4, Class A3, 6.50%, 12/15/2056		370		392
BWAY Mortgage Trust, Series 2015-1740, Class C, 3.34%, 01/10/2035 (d) (e)		2,750		103
BX Commercial Mortgage Trust, Series 2021-XL2, Class A, (CME Term SOFR 1 Month + 0.80%), 6.16%, 10/15/2038 (e) (aa)		704		690
Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.62%, 02/10/2049		430		410
Great Wolf Trust, Series 2019-WOLF, Class A, (CME Term SOFR 1 Month + 1.15%), 6.71%, 12/15/2036 (e) (aa)		550		548
GS Mortgage Securities Corp. Trust,
Series 2021-ROSS, Class A, (CME Term SOFR 1 Month + 1.26%), 6.63%, 05/15/2026 (e) (aa)		720		642
Series 2021-ROSS, Class H, (CME Term SOFR 1 Month + 6.01%), 11.38%, 05/15/2026 (e) (aa)		270		117
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C29, Class A4, 3.33%, 05/15/2049		900		855
WFRBS Commercial Mortgage Trust,
Series 2013-C15, Class AS, 4.36%, 08/15/2046 (z)		460		427
Series 2014-C19, Class A5, 4.10%, 03/15/2047		388		387

Total Commercial Mortgage-Backed Securities (Cost $7,676)				4,571

Convertible Bonds — 0.6%
Communications — 0.2%
Internet — 0.2%
Meituan, (Cayman Islands), Reg. S, Zero Coupon, 04/27/2028		5,100		4,396
Uber Technologies, Inc., Zero Coupon, 12/15/2025		2,600		2,644


				7,040

Media — 0.0% (g)
Cable One, Inc.,
Zero Coupon, 03/15/2026		623		529
1.13%, 03/15/2028		986		747


				1,276

Total Communications				8,316

Consumer Cyclical — 0.1%
Lodging — 0.1%
Wynn Macau Ltd., (Cayman Islands), 4.50%, 03/07/2029 (e)		3,200		3,262

Consumer Non-cyclical — 0.0% (g)
Commercial Services — 0.0% (g)
Nexi SpA, (Italy), Reg. S, Zero Coupon, 02/24/2028	EUR	300		287


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Convertible Bonds — continued
Commercial Services — continued
Shift4 Payments, Inc., Zero Coupon, 12/15/2025		292		324
Worldline SA, (France), Reg. S, Zero Coupon, 07/30/2026	EUR	192		189

Total Consumer Non-cyclical				800

Energy — 0.1%
Energy—Alternate Sources — 0.1%
NextEra Energy Partners LP,
Zero Coupon, 11/15/2025 (e)		894		781
2.50%, 06/15/2026 (e)		894		801

Total Energy				1,582

Financial — 0.0% (g)
Diversified Financial Services — 0.0% (g)
Universe Trek Ltd., (British Virgin Islands), Reg. S, Zero Coupon, 06/15/2026		800		810

Real Estate — 0.0% (g)
Sunac China Holdings Ltd., (Cayman Islands), 1.00% (PIK), 09/30/2032 (e) (v)		2,164		162

Total Financial				972

Industrial — 0.0% (g)
Engineering & Construction — 0.0% (g)
Cellnex Telecom SA, (Spain),
Reg. S, 0.75%, 11/20/2031	EUR	100		92
Reg. S, 2.13%, 08/11/2030	EUR	300		340

Total Industrial				432

Technology — 0.0% (g)
Computers — 0.0% (g)
Atos SE, (France), Reg. S, Zero Coupon, 11/06/2024	EUR	100		88

Semiconductors — 0.0% (g)
ams-OSRAM AG, (Austria), Reg. S, 2.13%, 11/03/2027	EUR	100		87

Total Technology				175

Utilities — 0.2%
Electric — 0.2%
PG&E Corp., 4.25%, 12/01/2027 (e)		4,858		5,091

Total Convertible Bonds (Cost $20,349)				20,630

Corporate Bonds — 84.7%
Basic Materials — 4.5%
Chemicals — 1.4%
Ashland, Inc.,
3.38%, 09/01/2031 (e)		1,359		1,172
6.88%, 05/15/2043		900		882
Avient Corp., 7.13%, 08/01/2030 (e)		581		605
Axalta Coating Systems Dutch Holding B BV, (Netherlands), 7.25%, 02/15/2031 (e)		551		580
Axalta Coating Systems LLC, 3.38%, 02/15/2029 (e)		1,806		1,622


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Chemicals — continued
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV, (Multinational), 4.75%, 06/15/2027 (e)		774		752
Celanese US Holdings LLC,
6.17%, 07/15/2027		438		449
6.70%, 11/15/2033		369		402
Chemours Co. (The),
4.63%, 11/15/2029 (e)		1,167		1,025
5.75%, 11/15/2028 (e)		1,828		1,741
Element Solutions, Inc., 3.88%, 09/01/2028 (e)		7,253		6,678
FIS Fabbrica Italiana Sintetici SpA, (Italy), Reg. S, 5.63%, 08/01/2027	EUR	200		205
Herens Holdco Sarl, (Luxembourg), 4.75%, 05/15/2028 (e)		1,187		974
Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.00%, 07/01/2028 (e)		2,042		1,953
INEOS Quattro Finance 2 Plc, (United Kingdom), Reg. S, 2.50%, 01/15/2026	EUR	194		207
International Flavors & Fragrances, Inc., 1.23%, 10/01/2025 (e)		406		376
Iris Holding, Inc., 10.00%, 12/15/2028 (e)		1,639		1,426
Kobe US Midco 2, Inc., 9.25% (cash), 11/01/2026 (e) (v)		1,508		1,123
Kronos International, Inc., Reg. S, 3.75%, 09/15/2025	EUR	183		193
LSF11 A5 HoldCo. LLC, 6.63%, 10/15/2029 (e)		662		560
Monitchem HoldCo. 3 SA, (Luxembourg), Reg. S, 8.75%, 05/01/2028	EUR	100		112
Nobian Finance BV, (Netherlands), Reg. S, 3.63%, 07/15/2026	EUR	218		230
Olympus Water US Holding Corp., 4.25%, 10/01/2028 (e)		1,125		1,012
Reg. S, 9.63%, 11/15/2028	EUR	198		234
9.75%, 11/15/2028 (e)		6,718		7,126
Orbia Advance Corp. SAB de CV, (Mexico), 1.88%, 05/11/2026 (e)		249		229
Rain Carbon, Inc., 12.25%, 09/01/2029 (e)		1,025		1,002
Rain CII Carbon LLC / CII Carbon Corp., 7.25%, 04/01/2025 (e)		47		45
Sasol Financing USA LLC, 5.88%, 03/27/2024		200		199
SCIL IV LLC / SCIL USA Holdings LLC, 5.38%, 11/01/2026 (e)		982		943
Reg. S, (ICE LIBOR EUR 3 Month + 4.38%), 8.34%, 11/01/2026 (aa)	EUR	100		110
Reg. S, 9.50%, 07/15/2028	EUR	101		119
SK Invictus Intermediate II Sarl, (Luxembourg), 5.00%, 10/30/2029 (e)		5,267		4,569
SNF Group SACA, (France), 3.13%, 03/15/2027 (e)		387		352
Synthomer plc, (United Kingdom), Reg. S, 3.88%, 07/01/2025	EUR	147		160


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Chemicals — continued
Tronox, Inc., 4.63%, 03/15/2029 (e)		665		589
Valvoline, Inc., 3.63%, 06/15/2031 (e)		1,325		1,131
WR Grace Holdings LLC,
4.88%, 06/15/2027 (e)		858		825
5.63%, 08/15/2029 (e)		5,860		5,177
7.38%, 03/01/2031 (e)		2,003		2,004


				49,093

Forest Products & Paper — 0.0% (g)
Ahlstrom Holding 3 Oy, (Finland), Reg. S, 3.63%, 02/04/2028	EUR	100		99

Iron/Steel — 1.2%
ABJA Investment Co. Pte Ltd., (Singapore), Reg. S, 5.95%, 07/31/2024		2,000		1,994
ATI, Inc.,
4.88%, 10/01/2029		816		759
5.13%, 10/01/2031		895		832
5.88%, 12/01/2027		1,002		988
7.25%, 08/15/2030		2,740		2,849
Baffinland Iron Mines Corp. / Baffinland Iron Mines LP, (Canada), 8.75%, 07/15/2026 (e)		162		152
Big River Steel LLC / BRS Finance Corp., 6.63%, 01/31/2029 (e)		8,245		8,406
Carpenter Technology Corp.,
6.38%, 07/15/2028		2,163		2,172
7.63%, 03/15/2030		1,247		1,285
Cleveland-Cliffs, Inc., 6.75%, 04/15/2030 (e)		1,225		1,243
Commercial Metals Co., 4.38%, 03/15/2032		325		292
JSW Steel Ltd., (India), Reg. S, 5.05%, 04/05/2032		1,100		948
Mineral Resources Ltd., (Australia), 8.13%, 05/01/2027 (e)		1,837		1,869
Periama Holdings LLC, Reg. S, 5.95%, 04/19/2026		15,750		15,492

				39,281

Mining — 1.9%
Anglo American Capital plc, (United Kingdom),
4.75%, 04/10/2027 (e)		400		395
4.88%, 05/14/2025 (e)		344		341
Arsenal AIC Parent LLC, 8.00%, 10/01/2030 (e)		1,499		1,564
Bukit Makmur Mandiri Utama PT, (Indonesia), Reg. S, 7.75%, 02/10/2026		4,600		4,342
China Hongqiao Group Ltd., (Cayman Islands), Reg. S, 6.25%, 06/08/2024		2,900		2,873
Constellium SE, (France),
3.75%, 04/15/2029 (e)		4,121		3,738
Reg. S, 4.25%, 02/15/2026	EUR	400		439
5.63%, 06/15/2028 (e)		1,126		1,099
5.88%, 02/15/2026 (e)		976		969


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Mining — continued
Eldorado Gold Corp., (Canada), 6.25%, 09/01/2029 (e)		575		542
ERO Copper Corp., (Canada), 6.50%, 02/15/2030 (e)		1,107		977
First Quantum Minerals Ltd., (Canada),
6.88%, 10/15/2027 (e)		1,312		1,115
7.50%, 04/01/2025 (e)		659		630
8.63%, 06/01/2031 (e)		2,300		1,950
Freeport-McMoRan, Inc., 4.55%, 11/14/2024		400		396
Glencore Funding LLC,
1.63%, 04/27/2026 (e)		235		218
4.00%, 04/16/2025 (e)		164		161
4.00%, 03/27/2027 (e)		306		297
4.63%, 04/29/2024 (e)		558		556
6.13%, 10/06/2028 (e)		116		122
Hecla Mining Co., 7.25%, 02/15/2028		1,083		1,090
Hudbay Minerals, Inc., (Canada),
4.50%, 04/01/2026 (e)		525		508
6.13%, 04/01/2029 (e)		2,181		2,137
Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT, (Indonesia), Reg. S, 5.80%, 05/15/2050		3,000		2,910
Kaiser Aluminum Corp.,
4.50%, 06/01/2031 (e)		4,184		3,607
4.63%, 03/01/2028 (e)		931		861
New Gold, Inc., (Canada), 7.50%, 07/15/2027 (e)		5,801		5,853
Northern Star Resources Ltd., (Australia), Reg. S, 6.13%, 04/11/2033		4,000		4,026
Novelis Corp.,
3.25%, 11/15/2026 (e)		4,560		4,293
3.88%, 08/15/2031 (e)		2,997		2,641
4.75%, 01/30/2030 (e)		4,329		4,071
Novelis Sheet Ingot GmbH, (Germany), Reg. S, 3.38%, 04/15/2029	EUR	900		937
Vedanta Resources Finance II plc, (United Kingdom), Reg. S, 8.95%, 03/11/2025		11,200		8,330


				63,988

Total Basic Materials				152,461

Communications — 9.5%
Advertising — 0.7%
Clear Channel International BV, (Netherlands), 6.63%, 08/01/2025 (e)		1,928		1,937
Clear Channel Outdoor Holdings, Inc.,
5.13%, 08/15/2027 (e)		4,109		3,922
7.50%, 06/01/2029 (e)		3,885		3,229
7.75%, 04/15/2028 (e)		584		503
9.00%, 09/15/2028 (e)		4,851		5,062
CMG Media Corp., 8.88%, 12/15/2027 (e)		4,255		3,375
Lamar Media Corp., 4.00%, 02/15/2030		113		104
Outfront Media Capital LLC / Outfront Media Capital Corp.,
4.25%, 01/15/2029 (e)		2,597		2,344


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Advertising — continued
4.63%, 03/15/2030 (e)		348		310
5.00%, 08/15/2027 (e)		1,809		1,750
7.38%, 02/15/2031 (e)		1,324		1,392
Summer BC Holdco B Sarl, (Luxembourg), Reg. S, 5.75%, 10/31/2026	EUR	100		106


				24,034

Internet — 0.8%
Acuris Finance US, Inc. / Acuris Finance Sarl, 5.00%, 05/01/2028 (e)		3,167		2,581
ANGI Group LLC, 3.88%, 08/15/2028 (e)		835		706
Arches Buyer, Inc., 4.25%, 06/01/2028 (e)		115		104
Cablevision Lightpath LLC,
3.88%, 09/15/2027 (e)		3,963		3,480
5.63%, 09/15/2028 (e)		1,050		828
Engineering—Ingegneria Informatica—SpA, (Italy), Reg. S, 11.13%, 05/15/2028	EUR	204		240
Gen Digital, Inc., 5.00%, 04/15/2025 (e)		1,185		1,173
Go Daddy Operating Co. LLC / GD Finance Co., Inc., 3.50%, 03/01/2029 (e)		1,314		1,195
iliad SA, (France), Reg. S, 5.38%, 06/14/2027	EUR	300		340
ION Trading Technologies Sarl, (Luxembourg), 5.75%, 05/15/2028 (e)		1,008		889
Match Group Holdings II LLC,
3.63%, 10/01/2031 (e)		1,312		1,134
4.63%, 06/01/2028 (e)		788		754
Netflix, Inc., 4.88%, 04/15/2028		175		177
Newfold Digital Holdings Group, Inc., 11.75%, 10/15/2028 (e)		217		234
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/2027 (e)		735		702
Prosus NV, (Netherlands),
Reg. S, 3.06%, 07/13/2031		1,800		1,456
Reg. S, 4.99%, 01/19/2052		5,200		3,913
Uber Technologies, Inc., 4.50%, 08/15/2029 (e)		6,578		6,274
United Group BV, (Netherlands), Reg. S, 4.00%, 11/15/2027	EUR	100		104


				26,284

Media — 4.4%
Altice Financing SA, (Luxembourg),
Reg. S, 3.00%, 01/15/2028	EUR	100		98
Reg. S, 4.25%, 08/15/2029	EUR	207		202
5.00%, 01/15/2028 (e)		200		181
5.75%, 08/15/2029 (e)		5,590		4,966
AMC Networks, Inc., 4.75%, 08/01/2025		31		30
Cable One, Inc., 4.00%, 11/15/2030 (e)		2,158		1,747
CCO Holdings LLC / CCO Holdings Capital Corp.,
4.25%, 02/01/2031 (e)		9,971		8,715
4.25%, 01/15/2034 (e)		8,397		6,826
4.50%, 08/15/2030 (e)		528		476


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Media — continued
4.50%, 05/01/2032		4,947		4,235
4.50%, 06/01/2033 (e)		2,550		2,159
4.75%, 03/01/2030 (e)		2,271		2,075
4.75%, 02/01/2032 (e)		1,509		1,331
5.00%, 02/01/2028 (e)		8,933		8,550
5.13%, 05/01/2027 (e)		4,319		4,168
5.38%, 06/01/2029 (e)		450		424
6.38%, 09/01/2029 (e)		4,241		4,183
7.38%, 03/01/2031 (e)		4,395		4,508
Charter Communications Operating LLC / Charter Communications Operating Capital,
4.50%, 02/01/2024		207		207
6.15%, 11/10/2026		201		205
CSC Holdings LLC,
3.38%, 02/15/2031 (e)		900		657
4.13%, 12/01/2030 (e)		2,783		2,117
4.50%, 11/15/2031 (e)		1,440		1,089
4.63%, 12/01/2030 (e)		7,010		4,223
5.00%, 11/15/2031 (e)		2,100		1,270
5.38%, 02/01/2028 (e)		825		728
5.50%, 04/15/2027 (e)		2,346		2,170
5.75%, 01/15/2030 (e)		2,000		1,245
6.50%, 02/01/2029 (e)		1,705		1,505
7.50%, 04/01/2028 (e)		500		374
11.25%, 05/15/2028 (e)		10,343		10,657
Diamond Sports Group LLC / Diamond Sports Finance Co.,
5.38%, 08/15/2026 (d) (e)		17,957		898
6.63%, 08/15/2027 (d) (e)		10,954		548
DIRECTV Financing LLC / DIRECTV Financing Co-Obligor, Inc., 5.88%, 08/15/2027 (e)		2,148		2,020
DISH DBS Corp.,
5.13%, 06/01/2029		1,344		693
5.25%, 12/01/2026 (e)		939		804
5.75%, 12/01/2028 (e)		865		690
7.38%, 07/01/2028		5,423		3,242
7.75%, 07/01/2026		4,515		3,145
DISH Network Corp., 11.75%, 11/15/2027 (e)		10,309		10,793
FactSet Research Systems, Inc., 2.90%, 03/01/2027		120		112
GCI LLC, 4.75%, 10/15/2028 (e)		182		168
Gray Television, Inc.,
5.88%, 07/15/2026 (e)		3,290		3,208
7.00%, 05/15/2027 (e)		1,252		1,190
iHeartCommunications, Inc., 6.38%, 05/01/2026		400		341
LCPR Senior Secured Financing DAC, (Ireland), 6.75%, 10/15/2027 (e)		2,412		2,362
Midcontinent Communications / Midcontinent Finance Corp., 5.38%, 08/15/2027 (e)		575		560
News Corp., 3.88%, 05/15/2029 (e)		250		230


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Media — continued
Nexstar Media, Inc.,
4.75%, 11/01/2028 (e)		590		544
5.63%, 07/15/2027 (e)		921		890
Radiate Holdco LLC / Radiate Finance, Inc.,
4.50%, 09/15/2026 (e)		3,018		2,302
6.50%, 09/15/2028 (e)		8,380		4,106
RCS & RDS SA, (Romania), Reg. S, 2.50%, 02/05/2025	EUR	200		216
Sinclair Television Group, Inc.,
4.13%, 12/01/2030 (e)		276		195
5.13%, 02/15/2027 (e)		2,190		1,954
Sirius XM Radio, Inc.,
3.13%, 09/01/2026 (e)		2,201		2,069
4.00%, 07/15/2028 (e)		371		343
5.00%, 08/01/2027 (e)		3,234		3,122
TEGNA, Inc., 4.75%, 03/15/2026 (e)		202		197
Tele Columbus AG, (Germany), Reg. S, 3.88%, 05/02/2025	EUR	344		240
Telenet Finance Luxembourg Notes Sarl, (Luxembourg), 5.50%, 03/01/2028 (e)		1,200		1,122
Univision Communications, Inc.,
5.13%, 02/15/2025 (e)		341		340
6.63%, 06/01/2027 (e)		5,067		5,053
7.38%, 06/30/2030 (e)		849		846
8.00%, 08/15/2028 (e)		4,255		4,390
UPC Broadband Finco BV, (Netherlands), 4.88%, 07/15/2031 (e)		2,152		1,894
Videotron Ltd., (Canada), 3.63%, 06/15/2029 (e)		383		348
Virgin Media Secured Finance plc, (United Kingdom), 4.50%, 08/15/2030 (e)		600		534
Virgin Media Vendor Financing Notes III DAC, (Ireland), Reg. S, 4.88%, 07/15/2028	GBP	300		351
Virgin Media Vendor Financing Notes IV DAC, (Ireland), 5.00%, 07/15/2028 (e)		2,389		2,244
VZ Secured Financing BV, (Netherlands),
Reg. S, 3.50%, 01/15/2032	EUR	100		97
5.00%, 01/15/2032 (e)		2,150		1,830
VZ Vendor Financing II BV, (Netherlands), Reg. S, 2.88%, 01/15/2029		EUR100		97
Ziggo Bond Co. BV, (Netherlands), 5.13%, 02/28/2030 (e)		1,072		896
Ziggo BV, (Netherlands), 4.88%, 01/15/2030 (e)		152		136


				148,681

Telecommunications — 3.6%
Altice France SA, (France),
Reg. S, 2.13%, 02/15/2025	EUR	100		106
Reg. S, 3.38%, 01/15/2028	EUR	100		87
5.13%, 01/15/2029 (e)		1,276		992
5.13%, 07/15/2029 (e)		3,254		2,527
5.50%, 01/15/2028 (e)		155		128
5.50%, 10/15/2029 (e)		3,272		2,564


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Telecommunications — continued
8.13%, 02/01/2027 (e)		4,318		3,980
Reg. S, 11.50%, 02/01/2027 (w)	EUR	100		111
AT&T, Inc., 5.54%, 02/20/2026		386		386
Bharti Airtel International Netherlands BV, (Netherlands), Reg. S, 5.35%, 05/20/2024		2,000		1,998
CommScope Technologies LLC, 6.00%, 06/15/2025 (e)		1,642		1,338
CommScope, Inc.,
4.75%, 09/01/2029 (e)		1,132		760
6.00%, 03/01/2026 (e)		1,204		1,073
Connect Finco Sarl / Connect US Finco LLC, (Multinational), 6.75%, 10/01/2026 (e)		5,057		5,027
Digicel Group Holdings Ltd., (Bermuda),
Series 1A14, Zero Coupon, 12/31/2030 (d) (e) (bb) (cc)		35		39
Series 1B14, Zero Coupon, 12/31/2030 (d) (e) (bb) (cc)		108		— (h)
Series 3A14, Zero Coupon, 12/31/2030 (d) (e) (bb) (cc)		1		3
Series 3B14, Zero Coupon, 12/31/2030 (d) (e) (bb) (cc)		64		— (h)
Digicel International Finance Ltd. / Digicel international Holdings Ltd., (Multinational),
8.00%, 12/31/2026 (d) (e)		6,725		135
13.00% (blend (cash 6% + PIK 7%)), 12/31/2025 (d) (e) (v)		2,651		1,789
Series 1441, 8.75%, 05/25/2024 (d) (e)		1,000		935
Digicel Ltd., (Bermuda), 6.75%, 03/01/2023 (d) (e)		19,230		385
Eutelsat SA, (France), Reg. S, 1.50%, 10/13/2028	EUR	200		166
Frontier Communications Holdings LLC,
5.00%, 05/01/2028 (e)		2,419		2,235
5.88%, 10/15/2027 (e)		791		764
6.75%, 05/01/2029 (e)		860		769
8.63%, 03/15/2031 (e)		421		429
8.75%, 05/15/2030 (e)		7,433		7,647
Global Switch Finance BV, (Netherlands), Reg. S, 1.38%, 10/07/2030	EUR	179		178
Globe Telecom, Inc., (Philippines),
Reg. S, 3.00%, 07/23/2035		1,300		967
Reg. S, (CMT Index 5 Year + 5.53%), 4.20%, 08/02/2026 (x) (aa)		7,384		6,948
Hughes Satellite Systems Corp., 5.25%, 08/01/2026		515		453
Iliad Holding SASU, (France),
6.50%, 10/15/2026 (e)		7,141		7,127
7.00%, 10/15/2028 (e)		2,509		2,497
Intelsat Jackson Holdings SA, (Luxembourg), 6.50%, 03/15/2030 (e)		3,645		3,473
Kaixo Bondco Telecom SA, (Spain), Reg. S, 5.13%, 09/30/2029	EUR	100		103


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Telecommunications — continued
Level 3 Financing, Inc.,
3.40%, 03/01/2027 (e)		6,925		6,648
3.63%, 01/15/2029 (e)		446		227
3.75%, 07/15/2029 (e)		255		128
4.25%, 07/01/2028 (e)		210		104
4.63%, 09/15/2027 (e)		4,963		2,978
10.50%, 05/15/2030 (e)		4,049		3,926
Level 3 New Money TSA, 11.00%, 11/15/2029 (e)		2,648		2,648
Liberty Costa Rica Senior Secured Finance, (Cayman Islands), 10.88%, 01/15/2031 (e)		832		851
Lorca Telecom Bondco SA, (Spain), Reg. S, 4.00%, 09/18/2027	EUR	319		343
Lumen Technologies, Inc., 4.00%, 02/15/2027 (e)		2,128		1,373
Network i2i Ltd., (Mauritius),
Reg. S, (CMT Index 5 Year + 3.39%), 3.98%, 03/03/2026 (x) (aa)		2,600		2,412
Reg. S, (CMT Index 5 Year + 4.27%), 5.65%, 01/15/2025 (x) (aa)		2,400		2,365
SES SA, (Luxembourg), Reg. S, (EUR Swap Rate 5 Year + 5.40%), 5.63%, 01/29/2024 (x) (aa)	EUR	100		110
SoftBank Group Corp., (Japan),
Reg. S, 3.13%, 09/19/2025	EUR	482		513
Reg. S, 3.88%, 07/06/2032	EUR	100		94
Reg. S, 4.00%, 09/19/2029	EUR	100		101
Reg. S, 4.50%, 04/20/2025	EUR	100		110
Sprint Capital Corp.,
6.88%, 11/15/2028		743		804
8.75%, 03/15/2032		575		710
Sprint LLC,
7.13%, 06/15/2024		2,584		2,595
7.63%, 02/15/2025		1,390		1,414
Telecom Italia Capital SA, (Luxembourg),
6.00%, 09/30/2034		953		905
6.38%, 11/15/2033		447		437
7.20%, 07/18/2036		2,702		2,717
7.72%, 06/04/2038		311		317
Telecom Italia SpA, (Italy),
Reg. S, 1.63%, 01/18/2029	EUR	342		326
5.30%, 05/30/2024 (e)		600		597
Reg. S, 6.88%, 02/15/2028	EUR	127		149
Reg. S, 7.88%, 07/31/2028	EUR	228		279
Telefonica Europe BV, (Netherlands),
Reg. S, (EUR Swap Rate 8 Year + 3.62%), 6.75%, 06/07/2031 (x) (aa)	EUR	200		236
Reg. S, (EUR Swap Rate 6 Year + 4.32%), 7.13%, 08/23/2028 (x) (aa)	EUR	200		238
T-Mobile USA, Inc.,
2.25%, 02/15/2026		160		152
2.63%, 04/15/2026		36		34
3.75%, 04/15/2027		90		87
Viasat, Inc.,
5.63%, 09/15/2025 (e)		8,700		8,483


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Telecommunications — continued
5.63%, 04/15/2027 (e)		911		882
7.50%, 05/30/2031 (e)		152		119
Viavi Solutions, Inc., 3.75%, 10/01/2029 (e)		1,048		918
Vmed O2 UK Financing I plc, (United Kingdom),
Reg. S, 4.00%, 01/31/2029	GBP	100		113
4.25%, 01/31/2031 (e)		303		265
4.75%, 07/15/2031 (e)		765		683
Vodafone Group plc, (United Kingdom),
Reg. S, (EUR Swap Rate 5 Year + 3.48%), 3.00%, 08/27/2080 (aa)	EUR	100		99
Reg. S, (GBP Swap Rate 5 Year + 3.27%), 4.88%, 10/03/2078 (aa)	GBP	200		247
Reg. S, (EUR Swap Rate 5 Year + 3.49%), 6.50%, 08/30/2084 (aa)	EUR	100		118
Xiaomi Best Time International Ltd., (Hong Kong), Reg. S, 4.10%, 07/14/2051		3,100		2,210
Zayo Group Holdings, Inc.,
4.00%, 03/01/2027 (e)		13,106		10,509
6.13%, 03/01/2028 (e)		4,552		3,343


				123,036

Total Communications				322,035

Consumer Cyclical — 16.1%
Airlines — 0.7%
Air Canada, (Canada), 3.88%, 08/15/2026 (e)		1,285		1,228
Air France-KLM, (France), Reg. S, 8.13%, 05/31/2028	EUR	100		125
American Airlines, Inc.,
7.25%, 02/15/2028 (e)		850		858
8.50%, 05/15/2029 (e)		2,206		2,329
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., (Multinational),
5.50%, 04/20/2026 (e)		83		83
5.75%, 04/20/2029 (e)		4,648		4,529
British Airways 2013-1 Class A Pass Through Trust, 4.63%, 06/20/2024 (e)		77		77
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., (Cayman Islands), 5.75%, 01/20/2026 (e)		375		353
International Consolidated Airlines Group SA, (Spain), Reg. S, 3.75%, 03/25/2029	EUR	100		107
Singapore Airlines Ltd., (Singapore), Reg. S, 3.00%, 07/20/2026		2,350		2,236
Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd., (Cayman Islands),
8.00%, 09/20/2025 (e)		632		450
United Airlines Pass Through Trust,
Series 20-1, Class A, 5.88%, 10/15/2027		187		189
Series 20-1, Class B, 4.88%, 01/15/2026		36		36


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Airlines — continued
United Airlines, Inc.,
4.38%, 04/15/2026 (e)		1,215		1,184
4.63%, 04/15/2029 (e)		6,111		5,716
VistaJet Malta Finance plc / Vista Management Holding, Inc., (Multinational),
6.38%, 02/01/2030 (e)		1,775		1,239
7.88%, 05/01/2027 (e)		1,929		1,660
9.50%, 06/01/2028 (e)		575		487


				22,886

Apparel — 0.2%
Crocs, Inc.,
4.13%, 08/15/2031 (e)		163		138
4.25%, 03/15/2029 (e)		1,111		992
Hanesbrands, Inc., 4.88%, 05/15/2026 (e)		445		429
Kontoor Brands, Inc., 4.13%, 11/15/2029 (e)		500		451
Levi Strauss & Co., 3.50%, 03/01/2031 (e)		1,480		1,281
PVH Corp., 4.63%, 07/10/2025		190		186
Tapestry, Inc., 7.05%, 11/27/2025		213		218
Wolverine World Wide, Inc., 4.00%, 08/15/2029 (e)		2,875		2,257


				5,952

Auto Manufacturers — 1.1%
Daimler Truck Finance North America LLC, 5.60%, 08/08/2025 (e)		503		506
Ford Motor Co.,
3.25%, 02/12/2032		1,401		1,166
4.75%, 01/15/2043		498		413
6.10%, 08/19/2032		702		709
Ford Motor Credit Co. LLC,
2.30%, 02/10/2025		400		385
3.38%, 11/13/2025		400		383
3.66%, 09/08/2024		1,000		984
4.13%, 08/04/2025		200		195
4.27%, 01/09/2027		2,500		2,399
4.39%, 01/08/2026		908		883
4.69%, 06/09/2025		200		196
5.13%, 06/16/2025		3,077		3,037
5.58%, 03/18/2024		1,079		1,078
7.20%, 06/10/2030		2,173		2,317
7.35%, 03/06/2030		1,545		1,662
General Motors Financial Co., Inc.,
2.75%, 06/20/2025		1,000		962
4.35%, 01/17/2027		80		78
5.10%, 01/17/2024		1,000		1,000
5.40%, 04/06/2026		95		96
Series C, (CMT Index 5 Year + 5.00%), 5.70%, 09/30/2030 (x) (aa)		5		4
Hyundai Capital America,
0.80%, 01/08/2024 (e)		500		500
5.65%, 06/26/2026 (e)		156		157
5.95%, 09/21/2026 (e)		4,078		4,149
6.10%, 09/21/2028 (e)		178		185


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Auto Manufacturers — continued
JB Poindexter & Co., Inc., 8.75%, 12/15/2031 (e)		795		811
Nissan Motor Acceptance Co. LLC, 6.95%, 09/15/2026 (e)		300		310
Nissan Motor Co. Ltd., (Japan), 4.81%, 09/17/2030 (e)		700		655
PM General Purchaser LLC, 9.50%, 10/01/2028 (e)		2,510		2,545
RCI Banque SA, (France), Reg. S, (EUR Swap Rate 5 Year + 2.85%), 2.63%, 02/18/2030 (aa)	EUR	600		641
TML Holdings Pte Ltd., (Singapore),
Reg. S, 4.35%, 06/09/2026		6,650		6,287
Reg. S, 5.50%, 06/03/2024		3,200		3,173
Volkswagen Group of America Finance LLC,
5.70%, 09/12/2026 (e)		222		225
5.80%, 09/12/2025 (e)		281		283
6.00%, 11/16/2026 (e)		200		205
Volkswagen International Finance NV, (Netherlands), Reg. S, (EUR Swap Rate 9 Year + 3.96%), 3.88%, 06/17/2029 (x) (aa)	EUR	200		202
Wabash National Corp., 4.50%, 10/15/2028 (e)		76		69


				38,850

Auto Parts & Equipment — 0.7%
Adient Global Holdings Ltd., (Jersey),
Reg. S, 3.50%, 08/15/2024	EUR	15		16
4.88%, 08/15/2026 (e)		925		905
7.00%, 04/15/2028 (e)		575		594
American Axle & Manufacturing, Inc., 6.50%, 04/01/2027		775		778
Clarios Global LP / Clarios US Finance Co., (Multinational),
Reg. S, 4.38%, 05/15/2026	EUR	1,262		1,382
6.75%, 05/15/2028 (e)		2,433		2,482
8.50%, 05/15/2027 (e)		10,505		10,541
Dana Financing Luxembourg Sarl, (Luxembourg),
5.75%, 04/15/2025 (e)		74		74
Reg. S, 8.50%, 07/15/2031	EUR	137		165
Dana, Inc.,
4.25%, 09/01/2030		500		443
4.50%, 02/15/2032		575		501
5.38%, 11/15/2027		275		273
5.63%, 06/15/2028		700		690
Forvia SE, (France), Reg. S, 2.75%, 02/15/2027	EUR	185		195
Goodyear Tire & Rubber Co. (The),
5.00%, 07/15/2029		678		641
5.63%, 04/30/2033		406		364
9.50%, 05/31/2025		167		169
Grupo Antolin-Irausa SA, (Spain), Reg. S, 3.50%, 04/30/2028	EUR	100		84


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Auto Parts & Equipment — continued
IHO Verwaltungs GmbH, (Germany), Reg. S, 8.75% (cash), 05/15/2028 (v)	EUR	128		154
Tenneco, Inc., 8.00%, 11/17/2028 (e)		1,859		1,587
Titan International, Inc., 7.00%, 04/30/2028		1,025		1,025
ZF Europe Finance BV, (Netherlands),
Reg. S, 2.00%, 02/23/2026	EUR	300		316
Reg. S, 6.13%, 03/13/2029	EUR	200		234
ZF Finance GmbH, (Germany), Reg. S, 5.75%, 08/03/2026	EUR	100		114


				23,727

Distribution/Wholesale — 0.2%
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/2029 (e)		45		40
BCPE Empire Holdings, Inc., 7.63%, 05/01/2027 (e)		1,763		1,701
Dealer Tire LLC / DT Issuer LLC, 8.00%, 02/01/2028 (e)		186		184
H&E Equipment Services, Inc., 3.88%, 12/15/2028 (e)		3,250		2,954
Resideo Funding, Inc., 4.00%, 09/01/2029 (e)		218		190
Ritchie Bros Holdings, Inc.,
6.75%, 03/15/2028 (e)		200		206
7.75%, 03/15/2031 (e)		650		693
Windsor Holdings III LLC, 8.50%, 06/15/2030 (e)		1,100		1,150


				7,118

Entertainment — 2.3%
Allwyn Entertainment Financing UK plc, (United Kingdom),
Reg. S, 7.25%, 04/30/2030	EUR	132		153
7.88%, 04/30/2029 (e)		666		678
Banijay Entertainment SASU, (France),
Reg. S, 7.00%, 05/01/2029	EUR	125		145
8.13%, 05/01/2029 (e)		410		423
Boyne USA, Inc., 4.75%, 05/15/2029 (e)		2,344		2,204
Caesars Entertainment, Inc.,
4.63%, 10/15/2029 (e)		7,370		6,646
6.25%, 07/01/2025 (e)		860		862
7.00%, 02/15/2030 (e)		7,534		7,723
8.13%, 07/01/2027 (e)		3,594		3,685
CCM Merger, Inc., 6.38%, 05/01/2026 (e)		1,245		1,214
Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op,
5.38%, 04/15/2027		242		237
5.50%, 05/01/2025 (e)		1,811		1,802
6.50%, 10/01/2028		3		3
Churchill Downs, Inc.,
4.75%, 01/15/2028 (e)		2,222		2,131
5.50%, 04/01/2027 (e)		387		383
5.75%, 04/01/2030 (e)		5,826		5,680
6.75%, 05/01/2031 (e)		1,919		1,948


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Entertainment — continued
Cirsa Finance International Sarl, (Luxembourg),
Reg. S, 4.75%, 05/22/2025	EUR	100		110
Reg. S, (ICE LIBOR EUR 3 Month + 4.50%), 8.45%, 07/31/2028 (aa)	EUR	100		112
CPUK Finance Ltd., (Jersey), Reg. S, 4.88%, 08/28/2025	GBP	100		123
Everi Holdings, Inc., 5.00%, 07/15/2029 (e)		100		91
Golden Entertainment, Inc., 7.63%, 04/15/2026 (e)		1,829		1,834
Inter Media and Communication SpA, (Italy), Reg. S, 6.75%, 02/09/2027	EUR	200		212
International Game Technology plc, (United Kingdom), 5.25%, 01/15/2029 (e)		855		838
Jacobs Entertainment, Inc., 6.75%, 02/15/2029 (e)		1,775		1,668
LHMC Finco 2 Sarl, (Luxembourg), Reg. S, 7.25% (cash), 10/02/2025 (v)	EUR	100		110
Light & Wonder International, Inc.,
7.25%, 11/15/2029 (e)		500		512
7.50%, 09/01/2031 (e)		1,949		2,032
Lions Gate Capital Holdings LLC, 5.50%, 04/15/2029 (e)		1,573		1,177
Live Nation Entertainment, Inc.,
3.75%, 01/15/2028 (e)		410		382
4.75%, 10/15/2027 (e)		2,153		2,065
5.63%, 03/15/2026 (e)		216		214
6.50%, 05/15/2027 (e)		2,250		2,289
Lottomatica SpA, (Italy), Reg. S, 9.75%, 09/30/2027	EUR	123		147
Merlin Entertainments Ltd., (United Kingdom), 5.75%, 06/15/2026 (e)		1,555		1,539
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp., 4.88%, 05/01/2029 (e)		1,456		1,354
Motion Bondco DAC, (Ireland), 6.63%, 11/15/2027 (e)		1,347		1,245
Odeon Finco plc, (United Kingdom), 12.75%, 11/01/2027 (e)		313		318
Ontario Gaming GTA LP, (Canada), 8.00%, 08/01/2030 (e)		1,265		1,305
Penn Entertainment, Inc.,
4.13%, 07/01/2029 (e)		2,200		1,887
5.63%, 01/15/2027 (e)		2,264		2,197
Pinewood Finance Co. Ltd., (United Kingdom), Reg. S, 3.63%, 11/15/2027	GBP	100		117
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.88%, 09/01/2031 (e)		1,591		1,230
Scientific Games Holdings LP / Scientific Games US FinCo., Inc., 6.63%, 03/01/2030 (e)		2,284		2,159
SeaWorld Parks & Entertainment, Inc., 8.75%, 05/01/2025 (e)		165		166


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Entertainment — continued
Six Flags Entertainment Corp., 7.25%, 05/15/2031 (e)		5,423		5,440
Warnermedia Holdings, Inc.,
3.79%, 03/15/2025		112		110
5.14%, 03/15/2052		2,847		2,457
5.39%, 03/15/2062		1,168		1,006
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.,
5.13%, 10/01/2029 (e)		4,872		4,599
7.13%, 02/15/2031 (e)		2,055		2,138


				79,100

Food Service — 0.1%
Aramark International Finance Sarl, (Luxembourg), Reg. S, 3.13%, 04/01/2025	EUR	693		758
Aramark Services, Inc., 5.00%, 02/01/2028 (e)		3,047		2,956
Elior Group SA, (France), Reg. S, 3.75%, 07/15/2026	EUR	100		102


				3,816

Home Builders — 1.3%
Adams Homes, Inc., 9.25%, 10/15/2028 (e)		350		355
Ashton Woods USA LLC / Ashton Woods Finance Co.,
4.63%, 08/01/2029 (e)		1,383		1,230
4.63%, 04/01/2030 (e)		500		446
6.63%, 01/15/2028 (e)		950		921
Beazer Homes USA, Inc.,
5.88%, 10/15/2027		5,850		5,714
6.75%, 03/15/2025		1,330		1,323
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, (Canada),
4.88%, 02/15/2030 (e)		4,143		3,643
5.00%, 06/15/2029 (e)		1,586		1,408
6.25%, 09/15/2027 (e)		1,550		1,502
Century Communities, Inc., 6.75%, 06/01/2027		1,125		1,138
Dream Finders Homes, Inc., 8.25%, 08/15/2028 (e)		517		547
Empire Communities Corp., (Canada), 7.00%, 12/15/2025 (e)		225		222
Forestar Group, Inc.,
3.85%, 05/15/2026 (e)		650		618
5.00%, 03/01/2028 (e)		1,475		1,420
KB Home,
4.00%, 06/15/2031		500		448
4.80%, 11/15/2029		2,000		1,911
6.88%, 06/15/2027		698		725
7.25%, 07/15/2030		600		621
LGI Homes, Inc., 8.75%, 12/15/2028 (e)		585		622
M/I Homes, Inc., 4.95%, 02/01/2028		1,218		1,172


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Home Builders — continued
Mattamy Group Corp., (Canada),
4.63%, 03/01/2030 (e)		1,580		1,464
5.25%, 12/15/2027 (e)		4,422		4,295
Meritage Homes Corp., 5.13%, 06/06/2027		653		643
Shea Homes LP / Shea Homes Funding Corp.,
4.75%, 02/15/2028		2,400		2,256
4.75%, 04/01/2029		450		414
STL Holding Co. LLC, 7.50%, 02/15/2026 (e)		1,715		1,666
Taylor Morrison Communities, Inc.,
5.13%, 08/01/2030 (e)		1,421		1,375
5.75%, 01/15/2028 (e)		700		702
5.88%, 06/15/2027 (e)		1,890		1,900
Tri Pointe Homes, Inc.,
5.25%, 06/01/2027		450		442
5.70%, 06/15/2028		1,601		1,579


				42,722

Home Furnishings — 0.1%
Leggett & Platt, Inc., 3.50%, 11/15/2027		87		82
Tempur Sealy International, Inc.,
3.88%, 10/15/2031 (e)		135		114
4.00%, 04/15/2029 (e)		2,325		2,100


				2,296

Housewares — 0.3%
CD&R Smokey Buyer, Inc., 6.75%, 07/15/2025 (e)		1,230		1,217
Scotts Miracle-Gro Co. (The),
4.00%, 04/01/2031		2,341		1,989
4.38%, 02/01/2032		1,871		1,585
4.50%, 10/15/2029		1,948		1,734
SWF Escrow Issuer Corp., 6.50%, 10/01/2029 (e)		4,655		3,346


				9,871

Leisure Time — 2.2%
Acushnet Co., 7.38%, 10/15/2028 (e)		396		413
Carnival Corp., (Panama),
4.00%, 08/01/2028 (e)		2,164		2,011
5.75%, 03/01/2027 (e)		9,552		9,328
6.00%, 05/01/2029 (e)		7,397		7,115
7.00%, 08/15/2029 (e)		744		777
7.63%, 03/01/2026 (e)		811		826
Reg. S, 7.63%, 03/01/2026	EUR	203		227
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/2028 (e)		11,670		12,697
Carnival plc, (United Kingdom), 1.00%, 10/28/2029	EUR	100		79
Life Time, Inc.,
5.75%, 01/15/2026 (e)		2,136		2,120
8.00%, 04/15/2026 (e)		897		906
Lindblad Expeditions Holdings, Inc., 9.00%, 05/15/2028 (e)		2,767		2,858


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Leisure Time — continued
Lindblad Expeditions LLC, 6.75%, 02/15/2027 (e)		1,385		1,378
MajorDrive Holdings IV LLC, 6.38%, 06/01/2029 (e)		74		64
NCL Corp. Ltd., (Bermuda),
3.63%, 12/15/2024 (e)		261		254
5.88%, 03/15/2026 (e)		2,830		2,763
5.88%, 02/15/2027 (e)		1,175		1,165
7.75%, 02/15/2029 (e)		2,937		2,951
8.13%, 01/15/2029 (e)		557		581
8.38%, 02/01/2028 (e)		2,042		2,164
NCL Finance Ltd., (Bermuda), 6.13%, 03/15/2028 (e)		2,308		2,204
Royal Caribbean Cruises Ltd., (Liberia),
4.25%, 07/01/2026 (e)		589		569
5.38%, 07/15/2027 (e)		1,235		1,223
5.50%, 08/31/2026 (e)		949		940
5.50%, 04/01/2028 (e)		341		337
7.25%, 01/15/2030 (e)		3,994		4,172
8.25%, 01/15/2029 (e)		1,375		1,461
9.25%, 01/15/2029 (e)		900		968
11.63%, 08/15/2027 (e)		450		490
TUI Cruises GmbH, (Germany), Reg. S, 6.50%, 05/15/2026	EUR	100		109
Viking Cruises Ltd., (Bermuda),
5.88%, 09/15/2027 (e)		2,488		2,401
6.25%, 05/15/2025 (e)		500		498
7.00%, 02/15/2029 (e)		705		699
9.13%, 07/15/2031 (e)		6,546		6,976
Viking Ocean Cruises Ship VII Ltd., (Bermuda), 5.63%, 02/15/2029 (e)		2,359		2,300


				76,024

Lodging — 4.2%
Accor SA, (France), Reg. S, (EUR Swap Rate 5 Year + 3.25%), 2.63%, 01/30/2025 (x) (aa)	EUR	100		107
Boyd Gaming Corp., 4.75%, 06/15/2031 (e)		2,046		1,879
Champion Path Holdings Ltd., (British Virgin Islands),
Reg. S, 4.50%, 01/27/2026		6,752		6,279
Reg. S, 4.85%, 01/27/2028		2,900		2,478
Fortune Star BVI Ltd., (British Virgin Islands),
Reg. S, 5.00%, 05/18/2026		5,000		3,611
Reg. S, 5.05%, 01/27/2027		3,100		2,039
Reg. S, 5.95%, 10/19/2025		8,300		6,847
Reg. S, 6.85%, 07/02/2024		3,000		2,883
Genting New York LLC / GENNY Capital, Inc., 3.30%, 02/15/2026 (e)		270		246
Hilton Domestic Operating Co., Inc.,
3.63%, 02/15/2032 (e)		1,973		1,723
3.75%, 05/01/2029 (e)		835		774
4.00%, 05/01/2031 (e)		245		224
4.88%, 01/15/2030		949		920


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Lodging — continued
Las Vegas Sands Corp., 3.90%, 08/08/2029		18		17
Melco Resorts Finance Ltd., (Cayman Islands),
4.88%, 06/06/2025 (e)		1,100		1,067
Reg. S, 4.88%, 06/06/2025		3,280		3,182
5.38%, 12/04/2029 (e)		3,120		2,747
Reg. S, 5.38%, 12/04/2029		2,000		1,761
5.63%, 07/17/2027 (e)		200		185
Reg. S, 5.63%, 07/17/2027		1,800		1,669
5.75%, 07/21/2028 (e)		600		550
Reg. S, 5.75%, 07/21/2028		18,950		17,384
MGM China Holdings Ltd., (Cayman Islands),
4.75%, 02/01/2027 (e)		350		333
Reg. S, 4.75%, 02/01/2027		2,800		2,664
5.25%, 06/18/2025 (e)		2,200		2,159
Reg. S, 5.25%, 06/18/2025		6,170		6,054
5.38%, 05/15/2024 (e)		200		199
5.88%, 05/15/2026 (e)		200		195
Reg. S, 5.88%, 05/15/2026		3,600		3,519
MGM Resorts International,
4.63%, 09/01/2026		625		610
4.75%, 10/15/2028		3,876		3,693
5.50%, 04/15/2027		775		769
5.75%, 06/15/2025		475		473
6.75%, 05/01/2025		350		351
Sands China Ltd., (Cayman Islands),
2.55%, 03/08/2027		3,700		3,368
5.65%, 08/08/2028		6,000		5,953
Station Casinos LLC,
4.50%, 02/15/2028 (e)		1,578		1,487
4.63%, 12/01/2031 (e)		1,170		1,055
Studio City Co. Ltd., (British Virgin Islands), Reg. S, 7.00%, 02/15/2027		3,300		3,247
Studio City Finance Ltd., (British Virgin Islands),
Reg. S, 5.00%, 01/15/2029		1,200		1,008
Reg. S, 6.00%, 07/15/2025		6,191		6,067
Reg. S, 6.50%, 01/15/2028		1,100		1,016
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp., 5.88%, 05/15/2025 (e)		1,300		1,289
Wynn Macau Ltd., (Cayman Islands),
Reg. S, 4.88%, 10/01/2024		2,000		1,973
5.13%, 12/15/2029 (e)		729		647
Reg. S, 5.13%, 12/15/2029		650		577
5.50%, 01/15/2026 (e)		1,214		1,185
Reg. S, 5.50%, 01/15/2026		18,150		17,712
5.50%, 10/01/2027 (e)		2,130		2,011
Reg. S, 5.50%, 10/01/2027		3,400		3,210
5.63%, 08/26/2028 (e)		6,960		6,450
Reg. S, 5.63%, 08/26/2028		3,900		3,614


				141,460


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Retail — 2.5%
1011778 BC ULC / New Red Finance, Inc., (Canada),
3.50%, 02/15/2029 (e)		2,900		2,662
3.88%, 01/15/2028 (e)		240		227
4.00%, 10/15/2030 (e)		2,156		1,933
4.38%, 01/15/2028 (e)		767		733
7-Eleven, Inc., 0.80%, 02/10/2024 (e)		425		423
Arko Corp., 5.13%, 11/15/2029 (e)		1,799		1,552
Asbury Automotive Group, Inc.,
4.75%, 03/01/2030		3		3
5.00%, 02/15/2032 (e)		793		721
BCPE Ulysses Intermediate, Inc., 7.75% (cash), 04/01/2027 (e) (v)		275		256
Beacon Roofing Supply, Inc.,
4.13%, 05/15/2029 (e)		935		850
6.50%, 08/01/2030 (e)		1,446		1,479
Brinker International, Inc.,
5.00%, 10/01/2024 (e)		643		638
8.25%, 07/15/2030 (e)		1,675		1,752
Burger King France SAS, (France), Reg. S, (ICE LIBOR EUR 3 Month + 4.75%), 8.72%, 11/01/2026 (aa)	EUR	300		333
Carrols Restaurant Group, Inc., 5.88%, 07/01/2029 (e)		975		861
Constellation Automotive Financing plc, (United Kingdom), Reg. S, 4.88%, 07/15/2027	GBP	100		104
eG Global Finance plc, (United Kingdom), 12.00%, 11/30/2028 (e)		4,973		5,296
Ferrellgas LP / Ferrellgas Finance Corp.,
5.38%, 04/01/2026 (e)		300		294
5.88%, 04/01/2029 (e)		335		316
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.,
4.63%, 01/15/2029 (e)		3,274		2,971
6.75%, 01/15/2030 (e)		3,962		3,483
Foundation Building Materials, Inc., 6.00%, 03/01/2029 (e)		2,684		2,413
Gap, Inc. (The),
3.63%, 10/01/2029 (e)		875		748
3.88%, 10/01/2031 (e)		1,555		1,280
Goldstory SAS, (France), Reg. S, 5.38%, 03/01/2026	EUR	100		110
GYP Holdings III Corp., 4.63%, 05/01/2029 (e)		1,502		1,371
Jollibee Worldwide Pte Ltd., (Singapore), Reg. S, 4.13%, 01/24/2026		4,200		4,023
Ken Garff Automotive LLC, 4.88%, 09/15/2028 (e)		3		3
LBM Acquisition LLC, 6.25%, 01/15/2029 (e)		2,100		1,875
LCM Investments Holdings II LLC,
4.88%, 05/01/2029 (e)		5,117		4,753
8.25%, 08/01/2031 (e)		1,764		1,841


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Retail — continued
LS Finance 2017 Ltd., (British Virgin Islands), Reg. S, 4.80%, 06/18/2026		200		151
NMG Holding Co., Inc. / Neiman Marcus Group LLC, 7.13%, 04/01/2026 (e)		579		557
Park River Holdings, Inc.,
5.63%, 02/01/2029 (e)		2,900		2,317
6.75%, 08/01/2029 (e)		550		449
Patrick Industries, Inc.,
4.75%, 05/01/2029 (e)		825		751
7.50%, 10/15/2027 (e)		60		60
PetSmart, Inc. / PetSmart Finance Corp.,
4.75%, 02/15/2028 (e)		250		236
7.75%, 02/15/2029 (e)		3,789		3,685
Raising Cane's Restaurants LLC, 9.38%, 05/01/2029 (e)		646		689
Sally Holdings LLC / Sally Capital, Inc., 5.63%, 12/01/2025		2,675		2,675
Sizzling Platter LLC / Sizzling Platter Finance Corp., 8.50%, 11/28/2025 (e)		225		225
SRS Distribution, Inc.,
4.63%, 07/01/2028 (e)		3,139		2,978
6.00%, 12/01/2029 (e)		4,909		4,577
6.13%, 07/01/2029 (e)		4,542		4,306
Stonegate Pub Co. Financing 2019 plc, (United Kingdom), Reg. S, 8.00%, 07/13/2025	GBP	150		186
Suburban Propane Partners LP / Suburban Energy Finance Corp.,
5.00%, 06/01/2031 (e)		2,950		2,696
5.88%, 03/01/2027		725		722
Superior Plus LP / Superior General Partner, Inc., (Canada), 4.50%, 03/15/2029 (e)		2,006		1,860
Walgreens Boots Alliance, Inc.,
3.20%, 04/15/2030		138		122
3.45%, 06/01/2026		209		198
4.10%, 04/15/2050		659		479
4.80%, 11/18/2044		440		366
White Cap Buyer LLC, 6.88%, 10/15/2028 (e)		7,244		7,012
White Cap Parent LLC, 8.25% (cash), 03/15/2026 (e) (v)		1,350		1,344
Yum! Brands, Inc., 4.75%, 01/15/2030 (e)		752		729


				84,674

Storage/Warehousing — 0.1%
GLP China Holdings Ltd., (Hong Kong),
Reg. S, 2.95%, 03/29/2026		3,850		2,235
Reg. S, 4.97%, 02/26/2024		800		746


				2,981

Toys/Games/Hobbies — 0.1%
Mattel, Inc., 5.45%, 11/01/2041		1,867		1,672

Total Consumer Cyclical				543,149


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Consumer Non-cyclical — 11.2%
Agriculture — 0.3%
BAT Capital Corp.,
3.22%, 08/15/2024		190		187
3.56%, 08/15/2027		68		65
4.70%, 04/02/2027		274		271
BAT International Finance plc, (United Kingdom), 5.93%, 02/02/2029		142		148
Darling Ingredients, Inc., 6.00%, 06/15/2030 (e)		2,720		2,722
Imperial Brands Finance plc, (United Kingdom),
3.13%, 07/26/2024 (e)		643		632
6.13%, 07/27/2027 (e)		855		879
Philip Morris International, Inc., 5.13%, 11/17/2027		193		197
Reynolds American, Inc., 4.45%, 06/12/2025		175		173
Tereos Finance Groupe I SA, (France), Reg. S, 7.25%, 04/15/2028	EUR	175		204
Vector Group Ltd., 5.75%, 02/01/2029 (e)		2,325		2,129
Viterra Finance BV, (Netherlands), 2.00%, 04/21/2026 (e)		700		650


				8,257

Beverages — 0.0% (g)
Bacardi Ltd. / Bacardi-Martini BV, (Multinational), 5.25%, 01/15/2029 (e)		179		179

Biotechnology — 0.0% (g)
Amgen, Inc.,
5.15%, 03/02/2028		241		247
5.25%, 03/02/2025		123		123
5.51%, 03/02/2026		241		241
Cidron Aida Finco Sarl, (Luxembourg), Reg. S, 6.25%, 04/01/2028	GBP	100		120
Illumina, Inc.,
5.75%, 12/13/2027		151		155
5.80%, 12/12/2025		38		38


				924

Commercial Services — 4.2%
ADT Security Corp. (The),
4.13%, 08/01/2029 (e)		1,209		1,112
4.88%, 07/15/2032 (e)		1,211		1,120
Adtalem Global Education, Inc., 5.50%, 03/01/2028 (e)		1,250		1,202
Albion Financing 1 Sarl / Aggreko Holdings, Inc., (Luxembourg), 6.13%, 10/15/2026 (e)		200		198
Allied Universal Holdco LLC / Allied Universal Finance Corp.,
6.00%, 06/01/2029 (e)		8,124		6,622
6.63%, 07/15/2026 (e)		5,713		5,683
9.75%, 07/15/2027 (e)		8,496		8,325


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Commercial Services — continued
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 Sarl, (Multinational),
Reg. S, 3.63%, 06/01/2028	EUR	160		155
4.63%, 06/01/2028 (e)		9,970		9,087
Reg. S, 4.88%, 06/01/2028	GBP	100		107
Alta Equipment Group, Inc., 5.63%, 04/15/2026 (e)		900		868
AMN Healthcare, Inc.,
4.00%, 04/15/2029 (e)		750		676
4.63%, 10/01/2027 (e)		874		827
APi Group DE, Inc.,
4.13%, 07/15/2029 (e)		1,730		1,574
4.75%, 10/15/2029 (e)		450		423
APX Group, Inc.,
5.75%, 07/15/2029 (e)		1,909		1,780
6.75%, 02/15/2027 (e)		154		154
Ashtead Capital, Inc., 5.95%, 10/15/2033 (e)		1,052		1,074
Avis Budget Car Rental LLC / Avis Budget Finance, Inc.,
4.75%, 04/01/2028 (e)		1,450		1,335
8.00%, 02/15/2031 (e)		1,357		1,355
Avis Budget Finance plc, (Jersey), Reg. S, 4.75%, 01/30/2026	EUR	300		330
BCP V Modular Services Finance II plc, (United Kingdom),
Reg. S, 4.75%, 11/30/2028	EUR	100		102
Reg. S, 6.13%, 11/30/2028	GBP	100		114
Block, Inc.,
2.75%, 06/01/2026		1,313		1,238
3.50%, 06/01/2031		6,234		5,536
Brink's Co. (The),
4.63%, 10/15/2027 (e)		1,738		1,658
5.50%, 07/15/2025 (e)		625		622
Carriage Services, Inc., 4.25%, 05/15/2029 (e)		400		355
CoreLogic, Inc., 4.50%, 05/01/2028 (e)		3,592		3,147
eHi Car Services Ltd., (Cayman Islands), Reg. S, 7.00%, 09/21/2026		2,550		1,690
Garda World Security Corp., (Canada),
4.63%, 02/15/2027 (e)		904		870
6.00%, 06/01/2029 (e)		117		105
7.75%, 02/15/2028 (e)		2,697		2,790
9.50%, 11/01/2027 (e)		791		798
Gartner, Inc.,
3.75%, 10/01/2030 (e)		749		662
4.50%, 07/01/2028 (e)		664		630
Global Payments, Inc.,
2.65%, 02/15/2025		47		46
4.45%, 06/01/2028		155		151
GTCR W-2 Merger Sub LLC, 7.50%, 01/15/2031 (e)		7,614		8,046
Herc Holdings, Inc., 5.50%, 07/15/2027 (e)		2,927		2,889


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Commercial Services — continued
Hertz Corp. (The),
4.63%, 12/01/2026 (e)		400		359
5.00%, 12/01/2029 (e)		825		677
India Toll Roads, (Mauritius), Reg. S, 5.50%, 08/19/2024		7,300		7,156
La Financiere Atalian SASU, (France), Reg. S, 5.13%, 05/15/2025	EUR	200		162
Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc., 5.00%, 02/01/2026 (e)		41		41
Mersin Uluslararasi Liman Isletmeciligi A/S, (Turkey), 8.25%, 11/15/2028 (e)		1,900		1,978
Metis Merger Sub LLC, 6.50%, 05/15/2029 (e)		4,385		3,965
MPH Acquisition Holdings LLC, 5.50%, 09/01/2028 (e)		2,000		1,791
Neptune Bidco US, Inc., 9.29%, 04/15/2029 (e)		1,701		1,586
NESCO Holdings II, Inc., 5.50%, 04/15/2029 (e)		2,261		2,091
Prime Security Services Borrower LLC / Prime Finance, Inc., 6.25%, 01/15/2028 (e)		2,319		2,307
Q-Park Holding I BV, (Netherlands), Reg. S, 1.50%, 03/01/2025	EUR	100		108
Rekeep SpA, (Italy), Reg. S, 7.25%, 02/01/2026	EUR	200		197
Royal Capital BV, (Netherlands),
Reg. S, (CMT Index 5 Year + 5.93%), 4.88%, 05/05/2024 (x) (aa)		1,131		1,121
Reg. S, (CMT Index 5 Year + 7.40%), 5.00%, 02/05/2026 (x) (aa)		6,150		5,996
Sabre GLBL, Inc., 8.63%, 06/01/2027 (e)		2,344		2,129
Service Corp. International,
3.38%, 08/15/2030		770		671
4.00%, 05/15/2031		3,102		2,778
Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/2026 (e)		2,480		2,412
Sotheby's, 7.38%, 10/15/2027 (e)		5,938		5,725
Sotheby's / Bidfair Holdings, Inc., 5.88%, 06/01/2029 (e)		299		261
Techem Verwaltungsgesellschaft 674 mbH, (Germany), Reg. S, 6.00%, 07/30/2026	EUR	176		193
Techem Verwaltungsgesellschaft 675 mbH, (Germany), Reg. S, 2.00%, 07/15/2025	EUR	200		216
Triton Container International Ltd., (Bermuda),
1.15%, 06/07/2024 (e)		448		437
2.05%, 04/15/2026 (e)		400		366
United Rentals North America, Inc.,
3.75%, 01/15/2032		1,750		1,554
3.88%, 02/15/2031		895		813
4.88%, 01/15/2028		2,025		1,975


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Commercial Services — continued
5.25%, 01/15/2030		425		420
6.00%, 12/15/2029 (e)		7,690		7,808
Verisure Holding AB, (Sweden), Reg. S, 9.25%, 10/15/2027	EUR	316		374
Verscend Escrow Corp., 9.75%, 08/15/2026 (e)		6,775		6,821
VT Topco, Inc., 8.50%, 08/15/2030 (e)		525		546
Williams Scotsman, Inc., 4.63%, 08/15/2028 (e)		1,309		1,235


				141,725

Cosmetics/Personal Care — 0.0% (g)
Coty, Inc., Reg. S, 5.75%, 09/15/2028	EUR	100		116
Coty, Inc. / HFC Prestige Products, Inc. / HFC Prestige International US LLC,
4.75%, 01/15/2029 (e)		62		59
6.63%, 07/15/2030 (e)		1,167		1,201


				1,376

Food — 1.8%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC,
3.25%, 03/15/2026 (e)		195		184
3.50%, 03/15/2029 (e)		2,702		2,455
4.63%, 01/15/2027 (e)		453		440
4.88%, 02/15/2030 (e)		1,478		1,416
6.50%, 02/15/2028 (e)		1,252		1,265
B&G Foods, Inc.,
5.25%, 04/01/2025		623		613
5.25%, 09/15/2027		3,271		2,969
8.00%, 09/15/2028 (e)		1,305		1,370
Bellis Acquisition Co. plc, (United Kingdom),
Reg. S, 3.25%, 02/16/2026	GBP	300		354
Reg. S, 4.50%, 02/16/2026	GBP	263		317
C&S Group Enterprises LLC, 5.00%, 12/15/2028 (e)		550		442
China Modern Dairy Holdings Ltd., (Cayman Islands), Reg. S, 2.13%, 07/14/2026		6,300		5,582
Chobani LLC / Chobani Finance Corp., Inc.,
4.63%, 11/15/2028 (e)		4,457		4,166
7.50%, 04/15/2025 (e)		5,873		5,844
Conagra Brands, Inc., 5.30%, 10/01/2026		134		136
Darling Global Finance BV, (Netherlands), Reg. S, 3.63%, 05/15/2026	EUR	300		327
FPC Resources Ltd., (British Virgin Islands), Reg. S, 4.38%, 09/11/2027		300		287
Indofood CBP Sukses Makmur Tbk. PT, (Indonesia), Reg. S, 4.75%, 06/09/2051		3,300		2,666
JGSH Philippines Ltd., (British Virgin Islands), Reg. S, 4.13%, 07/09/2030		6,350		5,912
Kraft Heinz Foods Co., 7.13%, 08/01/2039 (e)		500		594
Lamb Weston Holdings, Inc.,
4.13%, 01/31/2030 (e)		413		381
4.38%, 01/31/2032 (e)		4,171		3,806
4.88%, 05/15/2028 (e)		72		71


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Food — continued
Market Bidco Finco plc, (United Kingdom), Reg. S, 5.50%, 11/04/2027	GBP	177		199
Performance Food Group, Inc.,
4.25%, 08/01/2029 (e)		666		611
5.50%, 10/15/2027 (e)		1,895		1,867
Picard Groupe SAS, (France), Reg. S, 3.88%, 07/01/2026	EUR	100		107
Pilgrim's Pride Corp.,
3.50%, 03/01/2032		2,600		2,198
4.25%, 04/15/2031		8,148		7,360
Post Holdings, Inc.,
4.50%, 09/15/2031 (e)		1,905		1,708
4.63%, 04/15/2030 (e)		1,405		1,293
5.50%, 12/15/2029 (e)		950		915
Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 4.63%, 03/01/2029 (e)		1,139		986
United Natural Foods, Inc., 6.75%, 10/15/2028 (e)		123		100
US Foods, Inc.,
4.75%, 02/15/2029 (e)		1,879		1,785
7.25%, 01/15/2032 (e)		1,051		1,096


				61,822

Healthcare — Products — 1.0%
Avantor Funding, Inc.,
Reg. S, 2.63%, 11/01/2025	EUR	1,081		1,166
Reg. S, 3.88%, 07/15/2028	EUR	100		108
3.88%, 11/01/2029 (e)		983		892
4.63%, 07/15/2028 (e)		1,663		1,607
Bausch & Lomb Escrow Corp., (Canada), 8.38%, 10/01/2028 (e)		8,039		8,480
Baxter International, Inc., 1.32%, 11/29/2024		173		166
Embecta Corp.,
5.00%, 02/15/2030 (e)		850		721
6.75%, 02/15/2030 (e)		625		544
Garden Spinco Corp., 8.63%, 07/20/2030 (e)		942		1,008
GE HealthCare Technologies, Inc., 5.60%, 11/15/2025		125		126
Medline Borrower LP,
3.88%, 04/01/2029 (e)		5,608		5,070
5.25%, 10/01/2029 (e)		11,762		11,084
Stryker Corp., 4.85%, 12/08/2028		68		69
Teleflex, Inc., 4.25%, 06/01/2028 (e)		1,284		1,218


				32,259

Healthcare — Services — 2.5%
Acadia Healthcare Co., Inc., 5.00%, 04/15/2029 (e)		126		121
AHP Health Partners, Inc., 5.75%, 07/15/2029 (e)		2,642		2,289
Catalent Pharma Solutions, Inc.,
Reg. S, 2.38%, 03/01/2028	EUR	200		192
3.13%, 02/15/2029 (e)		848		742


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Healthcare — Services — continued
3.50%, 04/01/2030 (e)		2,525		2,198
5.00%, 07/15/2027 (e)		1,103		1,069
Centene Corp.,
2.45%, 07/15/2028		159		142
4.25%, 12/15/2027		666		642
Charles River Laboratories International, Inc.,
4.00%, 03/15/2031 (e)		15		13
4.25%, 05/01/2028 (e)		1,363		1,296
CHS / Community Health Systems, Inc.,
4.75%, 02/15/2031 (e)		4,023		3,175
5.25%, 05/15/2030 (e)		3,556		2,982
5.63%, 03/15/2027 (e)		700		651
6.00%, 01/15/2029 (e)		561		505
Clariane SE, (France), Reg. S, (UK Gilts 5 Year + 9.08%), 4.13%, 03/15/2024 (x) (aa)	GBP	200		135
DaVita, Inc.,
3.75%, 02/15/2031 (e)		4,982		4,091
4.63%, 06/01/2030 (e)		3,475		3,031
Encompass Health Corp.,
4.50%, 02/01/2028		55		53
4.63%, 04/01/2031		1,271		1,169
4.75%, 02/01/2030		984		927
Ephios Subco 3 Sarl, (Luxembourg), Reg. S, 7.88%, 01/31/2031	EUR	134		153
Fortrea Holdings, Inc., 7.50%, 07/01/2030 (e)		876		900
HCA, Inc.,
5.25%, 04/15/2025		500		500
7.05%, 12/01/2027		950		1,012
7.50%, 11/06/2033		1,650		1,860
HealthEquity, Inc., 4.50%, 10/01/2029 (e)		3,394		3,153
Humana, Inc., 5.70%, 03/13/2026		102		102
IQVIA, Inc.,
Reg. S, 1.75%, 03/15/2026	EUR	200		212
Reg. S, 2.25%, 03/15/2029	EUR	100		101
5.00%, 10/15/2026 (e)		397		393
5.00%, 05/15/2027 (e)		200		196
6.25%, 02/01/2029 (e)		1,776		1,856
6.50%, 05/15/2030 (e)		778		800
Legacy LifePoint Health LLC, 4.38%, 02/15/2027 (e)		620		573
LifePoint Health, Inc.,
5.38%, 01/15/2029 (e)		2,650		1,964
9.88%, 08/15/2030 (e)		1,463		1,478
11.00%, 10/15/2030 (e)		2,693		2,836
ModivCare, Inc., 5.88%, 11/15/2025 (e)		1,664		1,643
Molina Healthcare, Inc.,
3.88%, 11/15/2030 (e)		334		300
3.88%, 05/15/2032 (e)		966		845
4.38%, 06/15/2028 (e)		217		205
Prime Healthcare Services, Inc., 7.25%, 11/01/2025 (e)		2,640		2,574
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 9.75%, 12/01/2026 (e)		4,621		4,593


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Healthcare — Services — continued
Star Parent, Inc., 9.00%, 10/01/2030 (e)		4,547		4,792
Surgery Center Holdings, Inc.,
6.75%, 07/01/2025 (e)		427		426
10.00%, 04/15/2027 (e)		2,518		2,543
Tenet Healthcare Corp.,
4.25%, 06/01/2029		3,279		3,055
4.38%, 01/15/2030		9,955		9,227
4.88%, 01/01/2026		376		372
5.13%, 11/01/2027		4,525		4,423
6.13%, 10/01/2028		2,022		2,016
6.13%, 06/15/2030		439		444
6.75%, 05/15/2031 (e)		3,715		3,797


				84,767

Household Products/Wares — 0.2%
ACCO Brands Corp., 4.25%, 03/15/2029 (e)		1,915		1,727
Central Garden & Pet Co.,
4.13%, 10/15/2030		79		72
5.13%, 02/01/2028		360		350
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.,
5.00%, 12/31/2026 (e)		450		439
7.00%, 12/31/2027 (e)		1,625		1,552
Spectrum Brands, Inc., 3.88%, 03/15/2031 (e)		1,691		1,540


				5,680

Pharmaceuticals — 1.2%
1375209 BC Ltd., (Canada), 9.00%, 01/30/2028 (e)		1,308		1,275
AdaptHealth LLC,
4.63%, 08/01/2029 (e)		2,375		1,832
5.13%, 03/01/2030 (e)		1,200		937
6.13%, 08/01/2028 (e)		965		833
Bausch Health Americas, Inc., 8.50%, 01/31/2027 (e)		125		69
Bausch Health Cos., Inc., (Canada),
5.00%, 01/30/2028 (e)		2,125		967
5.00%, 02/15/2029 (e)		3,800		1,651
5.25%, 01/30/2030 (e)		4,610		2,125
5.25%, 02/15/2031 (e)		2,370		1,021
6.25%, 02/15/2029 (e)		6,918		3,062
7.00%, 01/15/2028 (e)		450		196
Bayer AG, (Germany), Reg. S, (EUR Swap Rate 5 Year + 3.75%), 4.50%, 03/25/2082 (aa)	EUR	200		210
Bayer US Finance II LLC,
4.25%, 12/15/2025 (e)		300		292
4.38%, 12/15/2028 (e)		311		296
Bayer US Finance LLC, 6.25%, 01/21/2029 (e)		400		409
Cheplapharm Arzneimittel GmbH, (Germany),
5.50%, 01/15/2028 (e)		2,033		1,924
Reg. S, 7.50%, 05/15/2030	EUR	339		398


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Healthcare — Services — continued
Grifols SA, (Spain), Reg. S, 3.88%, 10/15/2028	EUR	100		101
Gruenenthal GmbH, (Germany), Reg. S, 4.13%, 05/15/2028	EUR	100		109
Health & Happiness H&H International Holdings Ltd., (Cayman Islands),
Reg. S, 5.63%, 10/24/2024		5,250		5,060
Reg. S, 13.50%, 06/26/2026		600		576
Jazz Securities DAC, (Ireland), 4.38%, 01/15/2029 (e)		1,678		1,563
Option Care Health, Inc., 4.38%, 10/31/2029 (e)		957		865
Organon & Co. / Organon Foreign Debt Co-Issuer BV,
4.13%, 04/30/2028 (e)		1,798		1,655
5.13%, 04/30/2031 (e)		5,133		4,389
P&L Development LLC / PLD Finance Corp., 7.75%, 11/15/2025 (e)		1,633		1,327
PRA Health Sciences, Inc., 2.88%, 07/15/2026 (e)		1,242		1,165
Teva Pharmaceutical Finance Netherlands II BV, (Netherlands),
4.38%, 05/09/2030	EUR	283		293
7.38%, 09/15/2029	EUR	200		241
Teva Pharmaceutical Finance Netherlands III BV, (Netherlands),
3.15%, 10/01/2026		3,005		2,782
7.13%, 01/31/2025		200		202
7.88%, 09/15/2029		1,962		2,113
8.13%, 09/15/2031		1,248		1,363

				41,301

Total Consumer Non-cyclical				378,290

Diversified — 0.1%
Holding Companies — Diversified — 0.1%
San Miguel Corp., (Philippines), Reg. S, (CMT Index 5 Year + 10.24%), 5.50%, 07/29/2025 (x) (aa)		3,350		3,099

Energy — 11.1%
Coal — 0.3%
Adaro Indonesia PT, (Indonesia), Reg. S, 4.25%, 10/31/2024		6,150		5,988
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp., 7.50%, 05/01/2025 (e)		290		289
Conuma Resources Ltd., (Canada), 13.13%, 05/01/2028 (e)		784		754
Coronado Finance Pty Ltd., (Australia), 10.75%, 05/15/2026 (e)		804		838
Indika Energy Capital IV Pte Ltd., (Singapore), Reg. S, 8.25%, 10/22/2025		3,350		3,353

				11,222


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Energy—Alternate Sources — 1.3%
Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energ, (India), Reg. S, 6.25%, 12/10/2024		4,300		4,246
Continuum Energy Levanter Pte Ltd., (Singapore), Reg. S, 4.50%, 02/09/2027		2,050		1,923
Cullinan Holdco Scsp, (Luxembourg), Reg. S, 4.63%, 10/15/2026	EUR	101		87
Greenko Dutch BV, (Netherlands),
3.85%, 03/29/2026 (e)		185		172
Reg. S, 3.85%, 03/29/2026		11,840		11,012
Greenko Solar Mauritius Ltd., (Mauritius), Reg. S, 5.55%, 01/29/2025		5,850		5,701
Greenko Wind Projects Mauritius Ltd., (Mauritius),
5.50%, 04/06/2025 (e)		7,200		7,024
Reg. S, 5.50%, 04/06/2025		1,300		1,268
India Cleantech Energy, (Mauritius), Reg. S, 4.70%, 08/10/2026		4,420		4,011
India Green Energy Holdings, (Mauritius), Reg. S, 5.38%, 04/29/2024		6,000		5,940
India Green Power Holdings, (Mauritius), Reg. S, 4.00%, 02/22/2027		1,000		914

				42,298

Oil & Gas — 6.0%
Aethon United BR LP / Aethon United Finance Corp., 8.25%, 02/15/2026 (e)		3,772		3,791
Aker BP ASA, (Norway), 2.00%, 07/15/2026 (e)		212		195
Antero Resources Corp.,
5.38%, 03/01/2030 (e)		2,520		2,415
7.63%, 02/01/2029 (e)		375		385
Apache Corp.,
4.38%, 10/15/2028		450		426
5.35%, 07/01/2049		603		502
Ascent Resources Utica Holdings LLC / ARU Finance Corp.,
5.88%, 06/30/2029 (e)		3,682		3,420
7.00%, 11/01/2026 (e)		1,025		1,032
8.25%, 12/31/2028 (e)		5,073		5,101
9.00%, 11/01/2027 (e)		1,629		2,052
Athabasca Oil Corp., (Canada), 9.75%, 11/01/2026 (e)		2,469		2,595
Baytex Energy Corp., (Canada), 8.50%, 04/30/2030 (e)		1,589		1,644
Borr IHC Ltd. / Borr Finance LLC, (Multinational),
10.00%, 11/15/2028 (e)		1,686		1,754
10.38%, 11/15/2030 (e)		877		903
California Resources Corp., 7.13%, 02/01/2026 (e)		236		239


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Oil & Gas — continued
Callon Petroleum Co.,
6.38%, 07/01/2026		1,716		1,708
7.50%, 06/15/2030 (e)		1,499		1,512
8.00%, 08/01/2028 (e)		3,043		3,110
Canadian Natural Resources Ltd., (Canada), 3.85%, 06/01/2027		100		97
Chesapeake Energy Corp.,
5.50%, 02/01/2026 (e)		500		496
5.88%, 02/01/2029 (e)		835		818
6.75%, 04/15/2029 (e)		2,650		2,675
Chord Energy Corp., 6.38%, 06/01/2026 (e)		156		156
CITGO Petroleum Corp.,
6.38%, 06/15/2026 (e)		425		424
7.00%, 06/15/2025 (e)		3,414		3,407
8.38%, 01/15/2029 (e)		2,286		2,351
Civitas Resources, Inc.,
5.00%, 10/15/2026 (e)		250		242
8.38%, 07/01/2028 (e)		5,032		5,254
8.63%, 11/01/2030 (e)		2,366		2,509
8.75%, 07/01/2031 (e)		4,843		5,157
CNX Resources Corp.,
7.25%, 03/14/2027 (e)		2,089		2,108
7.38%, 01/15/2031 (e)		746		751
Comstock Resources, Inc.,
5.88%, 01/15/2030 (e)		4,383		3,800
6.75%, 03/01/2029 (e)		3,889		3,557
Continental Resources, Inc.,
2.27%, 11/15/2026 (e)		665		612
3.80%, 06/01/2024		450		446
4.38%, 01/15/2028		275		267
Crescent Energy Finance LLC,
7.25%, 05/01/2026 (e)		4,138		4,162
9.25%, 02/15/2028 (e)		4,435		4,601
CrownRock LP / CrownRock Finance, Inc.,
5.00%, 05/01/2029 (e)		206		201
5.63%, 10/15/2025 (e)		678		677
Devon Energy Corp., 5.25%, 10/15/2027		415		417
Diamond Foreign Asset Co. / Diamond Finance LLC, (Cayman Islands), 8.50%, 10/01/2030 (e)		1,445		1,476
Endeavor Energy Resources LP / EER Finance, Inc., 5.75%, 01/30/2028 (e)		1,765		1,767
EnQuest plc, (United Kingdom), 11.63%, 11/01/2027 (e)		200		191
EQT Corp.,
3.13%, 05/15/2026 (e)		353		335
3.90%, 10/01/2027		326		312
6.13%, 02/01/2025		208		209
Gulfport Energy Corp., 8.00%, 05/17/2026 (e)		371		375
Harbour Energy plc, (United Kingdom), 5.50%, 10/15/2026 (e)		264		258


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Oil & Gas — continued
HF Sinclair Corp., 5.00%, 02/01/2028 (e)		424		409
Hilcorp Energy I LP / Hilcorp Finance Co.,
5.75%, 02/01/2029 (e)		2,067		1,998
6.00%, 04/15/2030 (e)		350		339
6.00%, 02/01/2031 (e)		3,913		3,774
6.25%, 11/01/2028 (e)		786		783
6.25%, 04/15/2032 (e)		1,150		1,106
8.38%, 11/01/2033 (e)		4,319		4,576
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/2026 (e)		243		237
Matador Resources Co.,
5.88%, 09/15/2026		1,218		1,209
6.88%, 04/15/2028 (e)		1,568		1,591
Medco Maple Tree Pte Ltd., (Singapore), 8.96%, 04/27/2029 (e)		4,400		4,462
Medco Oak Tree Pte Ltd., (Singapore), Reg. S, 7.38%, 05/14/2026		7,719		7,648
MEG Energy Corp., (Canada), 5.88%, 02/01/2029 (e)		925		899
Nabors Industries Ltd., (Bermuda),
7.25%, 01/15/2026 (e)		415		399
7.50%, 01/15/2028 (e)		5,267		4,576
Nabors Industries, Inc.,
5.75%, 02/01/2025		3,991		3,990
7.38%, 05/15/2027 (e)		2,313		2,266
9.13%, 01/31/2030 (e)		2,845		2,856
Noble Finance II LLC, 8.00%, 04/15/2030 (e)		1,770		1,847
Northern Oil and Gas, Inc.,
8.13%, 03/01/2028 (e)		6,188		6,265
8.75%, 06/15/2031 (e)		1,376		1,432
Occidental Petroleum Corp.,
5.88%, 09/01/2025		715		719
6.38%, 09/01/2028		510		537
7.88%, 09/15/2031		500		569
Ovintiv, Inc.,
5.38%, 01/01/2026		250		250
5.65%, 05/15/2028		250		255
Parkland Corp., (Canada),
4.50%, 10/01/2029 (e)		2,300		2,108
4.63%, 05/01/2030 (e)		700		644
Patterson-UTI Energy, Inc.,
3.95%, 02/01/2028		431		402
7.15%, 10/01/2033		465		494
PBF Holding Co. LLC / PBF Finance Corp., 7.88%, 09/15/2030 (e)		1,065		1,085
PDC Energy, Inc., 5.75%, 05/15/2026		830		829
Permian Resources Operating LLC,
5.38%, 01/15/2026 (e)		54		53
5.88%, 07/01/2029 (e)		4,332		4,224
6.88%, 04/01/2027 (e)		1,135		1,134
7.00%, 01/15/2032 (e)		2,666		2,748
7.75%, 02/15/2026 (e)		1,286		1,309


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Oil & Gas — continued
8.00%, 04/15/2027 (e)		1,727		1,788
9.88%, 07/15/2031 (e)		1,357		1,508
Petroleos Mexicanos, (Mexico), 6.49%, 01/23/2027		549		515
Petron Corp., (Philippines), Reg. S, (CMT Index 5 Year + 7.57%), 5.95%, 04/19/2026 (x) (aa)		3,500		3,256
Precision Drilling Corp., (Canada), 6.88%, 01/15/2029 (e)		1,935		1,866
Range Resources Corp.,
4.75%, 02/15/2030 (e)		150		139
4.88%, 05/15/2025		801		791
Repsol International Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.41%), 4.25%, 09/11/2028 (x) (aa)	EUR	185		199
Rockcliff Energy II LLC, 5.50%, 10/15/2029 (e)		2,071		1,957
Saka Energi Indonesia PT, (Indonesia), Reg. S, 4.45%, 05/05/2024		797		789
Santos Finance Ltd., (Australia), 6.88%, 09/19/2033 (e)		200		212
Seadrill Finance Ltd., (Bermuda), 8.38%, 08/01/2030 (e)		910		949
Sitio Royalties Operating Partnership LP / Sitio Finance Corp., 7.88%, 11/01/2028 (e)		1,918		1,988
SM Energy Co.,
5.63%, 06/01/2025		415		409
6.50%, 07/15/2028		782		782
6.63%, 01/15/2027		25		25
Southwestern Energy Co.,
4.75%, 02/01/2032		2,392		2,213
5.38%, 02/01/2029		1,422		1,388
5.38%, 03/15/2030		3,054		2,984
8.38%, 09/15/2028		250		259
Suncor Energy, Inc., (Canada), 7.88%, 06/15/2026		145		154
Sunoco LP / Sunoco Finance Corp.,
4.50%, 05/15/2029		1,375		1,276
4.50%, 04/30/2030		775		717
5.88%, 03/15/2028		320		320
7.00%, 09/15/2028 (e)		876		904
Tengizchevroil Finance Co. International Ltd., (Bermuda), 2.63%, 08/15/2025 (e)		200		188
Transocean Aquila Ltd., (Cayman Islands), 8.00%, 09/30/2028 (e)		581		590
Transocean Titan Financing Ltd., (Cayman Islands), 8.38%, 02/01/2028 (e)		1,225		1,271
Transocean, Inc., (Cayman Islands),
7.25%, 11/01/2025 (e)		150		148
7.50%, 01/15/2026 (e)		2,425		2,383
8.00%, 02/01/2027 (e)		1,707		1,664
8.75%, 02/15/2030 (e)		4,153		4,340
11.50%, 01/30/2027 (e)		3,505		3,663


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Oil & Gas — continued
Valaris Ltd., (Bermuda), 8.38%, 04/30/2030 (e)		4,761		4,878
Vermilion Energy, Inc., (Canada), 6.88%, 05/01/2030 (e)		197		189
Vital Energy, Inc.,
9.50%, 01/15/2025		46		46
9.75%, 10/15/2030		1,870		1,941
10.13%, 01/15/2028		1,472		1,512

				203,115

Oil & Gas Services — 0.5%
Archrock Partners LP / Archrock Partners Finance Corp.,
6.25%, 04/01/2028 (e)		4,192		4,129
6.88%, 04/01/2027 (e)		1,935		1,940
Enerflex Ltd., (Canada), 9.00%, 10/15/2027 (e)		786		764
Oceaneering International, Inc., 6.00%, 02/01/2028 (e)		295		286
USA Compression Partners LP / USA Compression Finance Corp.,
6.88%, 04/01/2026		1,967		1,958
6.88%, 09/01/2027		2,402		2,374
Weatherford International Ltd., (Bermuda),
6.50%, 09/15/2028 (e)		972		1,002
8.63%, 04/30/2030 (e)		2,126		2,219
Welltec International ApS, (Denmark), 8.25%, 10/15/2026 (e)		200		203

				14,875

Pipelines — 3.0%
Antero Midstream Partners LP / Antero Midstream Finance Corp.,
5.38%, 06/15/2029 (e)		2,512		2,418
5.75%, 03/01/2027 (e)		1,531		1,519
5.75%, 01/15/2028 (e)		2,146		2,124
7.88%, 05/15/2026 (e)		450		461
Buckeye Partners LP,
3.95%, 12/01/2026		88		83
5.60%, 10/15/2044		46		35
5.85%, 11/15/2043		17		14
Cheniere Corpus Christi Holdings LLC, 5.88%, 03/31/2025		1,019		1,021
Cheniere Energy Partners LP, 4.00%, 03/01/2031		1,550		1,407
Cheniere Energy, Inc., 4.63%, 10/15/2028		1,758		1,714
CNX Midstream Partners LP, 4.75%, 04/15/2030 (e)		1,355		1,218
Columbia Pipelines Holding Co. LLC, 6.06%, 08/15/2026 (e)		500		512
CQP Holdco LP / BIP-V Chinook Holdco LLC, 5.50%, 06/15/2031 (e)		4,660		4,415
DCP Midstream Operating LP, 5.38%, 07/15/2025		161		161


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Pipelines — continued
DT Midstream, Inc.,
4.13%, 06/15/2029 (e)		2,466		2,269
4.38%, 06/15/2031 (e)		171		154
Enbridge, Inc., (Canada),
5.90%, 11/15/2026		96		98
6.00%, 11/15/2028		80		84
(CMT Index 5 Year + 4.43%), 8.50%, 01/15/2084 (aa)		891		948
Energy Transfer LP,
5.63%, 05/01/2027 (e)		161		161
6.00%, 02/01/2029 (e)		1,717		1,732
7.38%, 02/01/2031 (e)		674		708
8.00%, 04/01/2029 (e)		450		468
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa)		2,073		1,970
EnLink Midstream LLC,
5.38%, 06/01/2029		260		254
5.63%, 01/15/2028 (e)		2,961		2,928
6.50%, 09/01/2030 (e)		512		523
EnLink Midstream Partners LP, 5.60%, 04/01/2044		103		90
EQM Midstream Partners LP,
4.50%, 01/15/2029 (e)		11		10
4.75%, 01/15/2031 (e)		248		231
6.00%, 07/01/2025 (e)		74		74
7.50%, 06/01/2027 (e)		1,225		1,260
7.50%, 06/01/2030 (e)		1,333		1,433
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/2027 (e)		680		706
Genesis Energy LP / Genesis Energy Finance Corp.,
7.75%, 02/01/2028		339		340
8.25%, 01/15/2029		815		838
8.88%, 04/15/2030		879		908
Global Partners LP / GLP Finance Corp., 7.00%, 08/01/2027		600		587
Hess Midstream Operations LP, 4.25%, 02/15/2030 (e)		1,480		1,362
Howard Midstream Energy Partners LLC, 8.88%, 07/15/2028 (e)		1,535		1,611
ITT Holdings LLC, 6.50%, 08/01/2029 (e)		2,449		2,167
Kinetik Holdings LP,
5.88%, 06/15/2030 (e)		1,355		1,329
6.63%, 12/15/2028 (e)		415		423
New Fortress Energy, Inc., 6.75%, 09/15/2025 (e)		823		816
NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 02/01/2026 (e)		1,718		1,735
NuStar Logistics LP,
6.00%, 06/01/2026		625		624
6.38%, 10/01/2030		13		13
Plains All American Pipeline LP / PAA Finance Corp., 3.60%, 11/01/2024		121		119


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Pipelines — continued
Rockies Express Pipeline LLC,
3.60%, 05/15/2025 (e)		1,000		968
4.95%, 07/15/2029 (e)		183		175
7.50%, 07/15/2038 (e)		2,825		2,852
Sabal Trail Transmission LLC, 4.25%, 05/01/2028 (e)		425		412
Sabine Pass Liquefaction LLC,
5.75%, 05/15/2024		100		100
5.88%, 06/30/2026		250		255
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp.,
5.50%, 01/15/2028 (e)		3,492		3,300
6.00%, 03/01/2027 (e)		836		818
6.00%, 12/31/2030 (e)		3		3
6.00%, 09/01/2031 (e)		2,414		2,230
7.50%, 10/01/2025 (e)		250		251
Targa Resources Partners LP / Targa Resources Partners Finance Corp.,
6.50%, 07/15/2027		244		247
6.88%, 01/15/2029		304		314
Venture Global Calcasieu Pass LLC,
3.88%, 08/15/2029 (e)		3,023		2,745
3.88%, 11/01/2033 (e)		3,013		2,556
4.13%, 08/15/2031 (e)		1,650		1,453
6.25%, 01/15/2030 (e)		450		448
Venture Global LNG, Inc.,
8.13%, 06/01/2028 (e)		3,459		3,493
8.38%, 06/01/2031 (e)		6,770		6,772
9.50%, 02/01/2029 (e)		13,292		14,062
9.88%, 02/01/2032 (e)		7,793		8,118
Western Midstream Operating LP,
4.65%, 07/01/2026		360		354
5.25%, 02/01/2050		3,552		3,186
5.30%, 03/01/2048		624		544
5.45%, 04/01/2044		53		48
5.50%, 08/15/2048		463		412


				102,191

Total Energy				373,701

Financial — 14.4%
Banks — 4.3%
ABN AMRO Bank NV, (Netherlands),
4.75%, 07/28/2025 (e)		700		686
(CMT Index 1 Year + 1.65%), 6.34%, 09/18/2027 (e) (aa)		200		204
AIB Group plc, (Ireland),
(ICE LIBOR USD 3 Month + 1.87%), 4.26%, 04/10/2025 (e) (aa)		683		679
Reg. S, (EUR Swap Rate 5 Year + 5.70%), 5.25%, 10/09/2024 (x) (aa)	EUR	359		391
(United States SOFR + 2.33%), 6.61%, 09/13/2029 (e) (aa)		200		211
Banca Monte dei Paschi di Siena SpA, (Italy), Reg. S, (ICE LIBOR EUR 3 Month + 3.21%), 6.75%, 03/02/2026 (aa)	EUR	100		113


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
Banco Bilbao Vizcaya Argentaria SA, (Spain), Reg. S, (EUR Swap Rate 5 Year + 6.04%), 6.00%, 03/29/2024 (x) (aa)	EUR	400		440
Banco BPM SpA, (Italy),
Reg. S, (EUR Swap Rate 5 Year + 3.40%), 3.38%, 01/19/2032 (aa)	EUR	214		223
Reg. S, (EUR Swap Rate 5 Year + 4.67%), 4.25%, 10/01/2029 (aa)	EUR	100		110
Reg. S, (ICE LIBOR EUR 3 Month + 2.80%), 6.00%, 06/14/2028 (aa)	EUR	200		231
Banco de Credito Social Cooperativo SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 1 Year + 4.27%), 7.50%, 09/14/2029 (aa)	EUR	200		231
Banco de Sabadell SA, (Spain),
Reg. S, (EUR Swap Rate 5 Year + 2.95%), 2.50%, 04/15/2031 (aa)	EUR	200		208
Reg. S, (EUR Swap Rate 1 Year + 2.40%), 5.25%, 02/07/2029 (aa)	EUR	100		114
Reg. S, (EUR Swap Rate 5 Year + 3.15%), 6.00%, 08/16/2033 (aa)	EUR	100		112
Banco Santander SA, (Spain), 6.92%, 08/08/2033		1,000		1,068
Bangkok Bank PCL, (Thailand),
Reg. S, (CMT Index 5 Year + 1.90%), 3.73%, 09/25/2034 (aa)		3,550		3,147
Reg. S, (CMT Index 5 Year + 4.73%), 5.00%, 09/23/2025 (x) (aa)		3,400		3,249
Bank Negara Indonesia Persero Tbk. PT, (Indonesia),
Reg. S, 3.75%, 03/30/2026		7,650		7,275
Reg. S, (CMT Index 5 Year + 3.47%), 4.30%, 03/24/2027 (x) (aa)		2,400		2,108
Bank of America Corp.,
(United States SOFR + 0.96%), 1.73%, 07/22/2027 (aa)		98		90
(CME Term SOFR 3 Month + 1.13%), 2.46%, 10/22/2025 (aa)		80		78
(CME Term SOFR 3 Month + 1.35%), 3.09%, 10/01/2025 (aa)		18		17
(United States SOFR + 1.33%), 3.38%, 04/02/2026 (aa)		672		654
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa)		1,045		1,038
(United States SOFR + 2.04%), 4.95%, 07/22/2028 (aa)		230		230
Series L, 3.95%, 04/21/2025		552		543
Bank of East Asia Ltd. (The), (Hong Kong),
Reg. S, (CMT Index 5 Year + 3.75%), 4.00%, 05/29/2030 (aa)		5,000		4,709
Reg. S, (CMT Index 5 Year + 5.53%), 5.83%, 10/21/2025 (x) (aa)		900		783
Reg. S, (CMT Index 5 Year + 4.26%), 5.88%, 09/19/2024 (x) (aa)		1,000		933


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Banks — continued
Bank of Ireland Group plc, (Ireland),
(CMT Index 1 Year + 1.10%), 2.03%, 09/30/2027 (e) (aa)		400		365
(CMT Index 1 Year + 2.65%), 6.25%, 09/16/2026 (e) (aa)		200		202
Reg. S, (EUR Swap Rate 5 Year + 7.92%), 7.50%, 05/19/2025 (x) (aa)	EUR	200		223
Bank of Montreal, (Canada),
3.70%, 06/07/2025		141		138
5.27%, 12/11/2026		327		332
5.30%, 06/05/2026		197		199
Bank of New York Mellon Corp. (The), (United States SOFR + 1.17%), 4.54%, 02/01/2029 (aa)		99		98
Bank of Nova Scotia (The), (Canada),
4.75%, 02/02/2026		124		124
5.45%, 06/12/2025		158		159
Bankinter SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.71%), 7.38%, 08/15/2028 (x) (aa)	EUR	200		224
BankUnited, Inc., 4.88%, 11/17/2025		544		531
Barclays plc, (United Kingdom),
(United States SOFR + 2.71%), 2.85%, 05/07/2026 (aa)		376		363
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		1,000		993
(CMT Index 5 Year + 3.41%), 4.38%, 03/15/2028 (x) (aa)		465		362
(United States SOFR + 2.21%), 5.83%, 05/09/2027 (aa)		252		254
(United States SOFR + 1.88%), 6.50%, 09/13/2027 (aa)		209		215
(CMT Index 1 Year + 3.05%), 7.33%, 11/02/2026 (aa)		356		368
(CMT Index 5 Year + 5.67%), 8.00%, 06/15/2024 (x) (aa)		200		199
(CMT Index 5 Year + 5.43%), 8.00%, 03/15/2029 (x) (aa)		794		779
(USD SOFR ICE Swap Rate 5 Year + 5.78%), 9.63%, 12/15/2029 (x) (aa)		4,694		4,895
BNP Paribas SA, (France),
(United States SOFR + 1.61%), 1.90%, 09/30/2028 (e) (aa)		400		355
(United States SOFR + 2.07%), 2.22%, 06/09/2026 (e) (aa)		711		679
(CME Term SOFR 3 Month + 1.37%), 2.82%, 11/19/2025 (e) (aa)		200		195
(USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 4.15%), 6.63%, 03/25/2024 (e) (x) (aa)		200		198
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.63%), 7.38%, 06/11/2030 (x) (aa)	EUR	200		235
(CMT Index 5 Year + 4.35%), 8.50%, 08/14/2028 (e) (x) (aa)		1,875		1,964


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
BPCE SA, (France),
4.50%, 03/15/2025 (e)		500		490
4.88%, 04/01/2026 (e)		200		196
5.15%, 07/21/2024 (e)		235		233
CaixaBank SA, (Spain),
Reg. S, (EUR Swap Rate 5 Year + 6.35%), 5.88%, 10/09/2027 (x) (aa)	EUR	200		214
Reg. S, (EUR Swap Rate 5 Year + 6.50%), 6.75%, 06/13/2024 (x) (aa)	EUR	200		220
Canadian Imperial Bank of Commerce, (Canada),
3.95%, 08/04/2025		231		228
5.00%, 04/28/2028		204		205
5.14%, 04/28/2025		252		252
Citigroup, Inc.,
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa)		382		371
(CME Term SOFR 3 Month + 1.16%), 3.35%, 04/24/2025 (aa)		935		928
(CMT Index 5 Year + 3.42%), 3.88%, 02/18/2026 (x) (aa)		1,600		1,416
(United States SOFR + 1.37%), 4.14%, 05/24/2025 (aa)		402		400
(United States SOFR + 2.66%), 6.17%, 05/25/2034 (aa)		1,930		2,001
(CMT Index 5 Year + 3.21%), 7.63%, 11/15/2028 (x) (aa)		1,455		1,483
Series Y, (CMT Index 5 Year + 3.00%), 4.15%, 11/15/2026 (x) (aa)		15		13
Citizens Bank NA, (United States SOFR + 1.45%), 6.06%, 10/24/2025 (aa)		250		244
Commerzbank AG, (Germany), Reg. S, (EUR Swap Rate 5 Year + 6.36%), 6.13%, 10/09/2025 (x) (aa)	EUR	400		426
Cooperatieve Rabobank UA, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.68%), 4.38%, 06/29/2027 (x) (aa)	EUR	200		206
Credit Agricole SA, (France),
4.38%, 03/17/2025 (e)		450		442
(CMT Index 5 Year + 3.24%), 4.75%, 03/23/2029 (e) (x) (aa)		261		222
Credit Suisse AG, (Switzerland),
3.63%, 09/09/2024		605		596
4.75%, 08/09/2024		250		249
Dah Sing Bank Ltd., (Hong Kong), Reg. S, (CMT Index 5 Year + 2.95%), 7.38%, 11/15/2033 (c) (aa)		3,800		3,957
Danske Bank A/S, (Denmark),
(ICE LIBOR USD 3 Month + 1.59%), 3.24%, 12/20/2025 (e) (aa)		1,193		1,162
5.38%, 01/12/2024 (e)		325		325
(CMT Index 1 Year + 2.10%), 6.47%, 01/09/2026 (e) (aa)		815		821


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Banks — continued
Deutsche Bank AG, (Germany), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 6.94%), 10.00%, 12/01/2027 (x) (aa)	EUR	200		241
Discover Bank, 4.25%, 03/13/2026		250		242
Federation des Caisses Desjardins du Quebec, (Canada), 5.70%, 03/14/2028 (e)		200		206
First-Citizens Bank & Trust Co., (CME Term SOFR 3 Month + 1.72%), 2.97%, 09/27/2025 (aa)		250		244
Freedom Mortgage Corp.,
7.63%, 05/01/2026 (e)		883		873
12.00%, 10/01/2028 (e)		907		991
12.25%, 10/01/2030 (e)		1,033		1,132
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa)		200		183
(United States SOFR + 1.11%), 2.64%, 02/24/2028 (aa)		554		514
(CME Term SOFR 3 Month + 1.46%), 3.27%, 09/29/2025 (aa)		316		311
(CME Term SOFR 3 Month + 1.56%), 4.22%, 05/01/2029 (aa)		212		205
(United States SOFR + 1.08%), 5.80%, 08/10/2026 (aa)		170		172
Series R, (CMT Index 5 Year + 3.22%), 4.95%, 02/10/2025 (x) (aa)		441		421
HDFC Bank Ltd., (India), Reg. S, (CMT Index 5 Year + 2.93%), 3.70%, 08/25/2026 (x) (aa)		3,700		3,367
HSBC Holdings plc, (United Kingdom),
(CME Term SOFR 3 Month + 1.47%), 3.80%, 03/11/2025 (aa)		400		398
(CME Term SOFR 3 Month + 1.61%), 4.29%, 09/12/2026 (aa)		200		196
(CMT Index 5 Year + 3.65%), 4.60%, 12/17/2030 (x) (aa)		200		167
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa)		212		215
HSBC USA, Inc., 5.63%, 03/17/2025		200		201
Huntington Bancshares, Inc., (United States SOFR + 1.97%), 4.44%, 08/04/2028 (aa)		83		81
ING Groep NV, (Netherlands),
(CMT Index 5 Year + 2.86%), 3.88%, 05/16/2027 (x) (aa)		200		162
(CMT Index 5 Year + 4.34%), 5.75%, 11/16/2026 (x) (aa)		200		187
(United States SOFR + 1.56%), 6.08%, 09/11/2027 (aa)		332		339
Intesa Sanpaolo SpA, (Italy),
(CMT Index 1 Year + 2.60%), 4.20%, 06/01/2032 (e) (aa)		1,620		1,339
5.02%, 06/26/2024 (e)		1,072		1,061
Reg. S, 5.15%, 06/10/2030	GBP	247		285
5.71%, 01/15/2026 (e)		300		298


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
Kasikornbank PCL, (Thailand), Reg. S, (CMT Index 5 Year + 4.94%), 5.28%, 10/14/2025 (x) (aa)		10,400		9,925
KeyBank NA, (SOFR Compounded Index + 0.32%), 5.74%, 06/14/2024 (aa)		250		247
Lloyds Banking Group plc, (United Kingdom),
4.58%, 12/10/2025		200		196
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 5.29%), 4.95%, 06/27/2025 (x) (aa)	EUR	200		215
(CMT Index 1 Year + 1.48%), 5.99%, 08/07/2027 (aa)		200		203
(CMT Index 5 Year + 3.91%), 8.00%, 09/27/2029 (x) (aa)		1,225		1,228
Macquarie Bank Ltd., (Australia),
4.88%, 06/10/2025 (e)		284		280
6.80%, 01/18/2033 (e)		640		682
Macquarie Group Ltd., (Australia),
(United States SOFR + 1.07%), 1.34%, 01/12/2027 (e) (aa)		105		96
(ICE LIBOR USD 3 Month + 1.37%), 3.76%, 11/28/2028 (e) (aa)		722		676
6.21%, 11/22/2024 (e)		188		189
Manufacturers & Traders Trust Co., 4.65%, 01/27/2026		610		597
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 0.45%), 0.96%, 10/11/2025 (aa)		200		193
(CMT Index 1 Year + 1.70%), 4.79%, 07/18/2025 (aa)		295		294
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		400		398
Morgan Stanley,
(United States SOFR + 0.51%), 0.79%, 01/22/2025 (aa)		250		249
(United States SOFR + 1.99%), 2.19%, 04/28/2026 (aa)		323		310
(United States SOFR + 1.15%), 2.72%, 07/22/2025 (aa)		840		826
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		390		388
(United States SOFR + 1.67%), 4.68%, 07/17/2026 (aa)		37		37
(United States SOFR + 1.30%), 5.05%, 01/28/2027 (aa)		31		31
(United States SOFR + 1.73%), 5.12%, 02/01/2029 (aa)		99		99
(United States SOFR + 1.63%), 5.45%, 07/20/2029 (aa)		137		140
(United States SOFR + 1.77%), 6.14%, 10/16/2026 (aa)		104		106
Nanyang Commercial Bank Ltd., (Hong Kong), Reg. S, (CMT Index 5 Year + 2.18%), 3.80%, 11/20/2029 (aa)		300		293


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Banks — continued
NatWest Group plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.76%), 4.27%, 03/22/2025 (aa)		1,400		1,395
(CMT Index 1 Year + 1.95%), 5.81%, 09/13/2029 (aa)		413		424
(CMT Index 1 Year + 2.85%), 7.47%, 11/10/2026 (aa)		513		531
Northern Trust Corp., 6.13%, 11/02/2032		410		441
PNC Financial Services Group, Inc. (The),
Series V, (CMT Index 5 Year + 3.24%), 6.20%, 09/15/2027 (x) (aa)		654		635
Series W, (CMT Index 7 Year + 2.81%), 6.25%, 03/15/2030 (x) (aa)		1,234		1,150
Santander Holdings USA, Inc., (United States SOFR + 2.33%), 5.81%, 09/09/2026 (aa)		57		57
Santander UK Group Holdings plc, (United Kingdom),
(United States SOFR + 0.79%), 1.09%, 03/15/2025 (aa)		200		198
4.75%, 09/15/2025 (e)		200		196
Reg. S, (GBP Swap Rate 5 Year + 6.07%), 6.75%, 06/24/2024 (x) (aa)	GBP	200		254
Societe Generale SA, (France), Reg. S, (EUR Swap Rate 5 Year + 5.23%), 7.88%, 01/18/2029 (x) (aa)	EUR	100		114
Standard Chartered plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.21%), 2.82%, 01/30/2026 (e) (aa)		500		484
Reg. S, (CMT Index 5 Year + 3.81%), 4.75%, 01/14/2031 (x) (aa)		2,100		1,713
5.20%, 01/26/2024 (e)		785		784
Reg. S, (CMT Index 5 Year + 5.66%), 6.00%, 07/26/2025 (x) (aa)		3,100		3,041
(CMT Index 1 Year + 1.85%), 6.75%, 02/08/2028 (e) (aa)		600		618
Reg. S, (CMT Index 5 Year + 4.98%), 7.75%, 08/15/2027 (x) (aa)		21,800		22,262
State Street Corp., (United States SOFR + 1.13%), 5.10%, 05/18/2026 (aa)		112		112
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e)		400		408
Toronto-Dominion Bank (The), (Canada),
4.69%, 09/15/2027		173		173
5.26%, 12/11/2026		289		295
5.53%, 07/17/2026		263		268
Truist Financial Corp.,
(United States SOFR + 1.44%), 4.87%, 01/26/2029 (aa)		73		72
(United States SOFR + 0.40%), 5.82%, 06/09/2025 (aa)		344		339
UBS AG, (Switzerland), Reg. S, 5.13%, 05/15/2024		750		743


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
UBS Group AG, (Switzerland),
(SOFR Compounded Index + 0.98%), 1.31%, 02/02/2027 (e) (aa)		250		229
(CMT Index 1 Year + 0.85%), 1.49%, 08/10/2027 (e) (aa)		647		585
(United States SOFR + 1.56%), 2.59%, 09/11/2025 (e) (aa)		500		489
(ICE LIBOR USD 3 Month + 1.41%), 3.87%, 01/12/2029 (e) (aa)		900		849
4.28%, 01/09/2028 (e)		250		242
(CMT Index 5 Year + 3.31%), 4.38%, 02/10/2031 (e) (x) (aa)		200		158
(CMT Index 1 Year + 1.55%), 4.49%, 05/12/2026 (e) (aa)		504		496
Reg. S, (USD Semi-annual Swap Rate 5 Year + 4.59%), 6.88%, 08/07/2025 (x) (aa)		200		196
(USD Semi-annual Swap Rate 5 Year + 4.34%), 7.00%, 01/31/2024 (e) (x) (aa)		200		200
Reg. S, (USD Semi-annual Swap Rate 5 Year + 4.87%), 7.00%, 02/19/2025 (x) (aa)		200		199
(CMT Index 5 Year + 4.75%), 9.25%, 11/13/2028 (e) (x) (aa)		2,217		2,392
(CMT Index 5 Year + 4.76%), 9.25%, 11/13/2033 (e) (x) (aa)		2,204		2,443
UniCredit SpA, (Italy), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 7.33%), 7.50%, 06/03/2026 (x) (aa)	EUR	200		227
US Bancorp,
(United States SOFR + 2.02%), 5.78%, 06/12/2029 (aa)		160		164
(United States SOFR + 1.88%), 6.79%, 10/26/2027 (aa)		222		232
Wells Fargo & Co.,
(CME Term SOFR 3 Month + 1.01%), 2.16%, 02/11/2026 (aa)		1,109		1,067
(United States SOFR + 2.00%), 2.19%, 04/30/2026 (aa)		111		106
(CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa)		811		789
(United States SOFR + 1.56%), 4.54%, 08/15/2026 (aa)		223		221
(United States SOFR + 1.98%), 4.81%, 07/25/2028 (aa)		231		229
(United States SOFR + 1.74%), 5.57%, 07/25/2029 (aa)		252		258
(United States SOFR + 1.79%), 6.30%, 10/23/2029 (aa)		122		129
(CMT Index 5 Year + 3.61%), 7.63%, 09/15/2028 (x) (aa)		1,974		2,066


				144,426


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Diversified Financial Services — 2.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
2.88%, 08/14/2024		336		330
3.50%, 01/15/2025		347		339
Series 3NC1, 1.75%, 10/29/2024		1,100		1,062
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/2027 (e)		534		561
Aircastle Ltd., (Bermuda),
5.25%, 08/11/2025 (e)		607		598
6.50%, 07/18/2028 (e)		611		624
Ally Financial, Inc.,
5.13%, 09/30/2024		250		248
5.75%, 11/20/2025		329		328
American Express Co.,
3.95%, 08/01/2025		138		136
(United States SOFR + 1.00%), 4.99%, 05/01/2026 (aa)		312		311
(United States SOFR + 1.28%), 5.28%, 07/27/2029 (aa)		291		297
(United States SOFR + 0.97%), 5.39%, 07/28/2027 (aa)		53		54
(United States SOFR + 1.33%), 6.34%, 10/30/2026 (aa)		418		426
Ameriprise Financial, Inc., 5.70%, 12/15/2028		133		139
Aretec Group, Inc., 10.00%, 08/15/2030 (e)		440		468
Aviation Capital Group LLC,
1.95%, 01/30/2026 (e)		175		162
1.95%, 09/20/2026 (e)		389		352
4.38%, 01/30/2024 (e)		151		151
5.50%, 12/15/2024 (e)		300		298
Avolon Holdings Funding Ltd., (Cayman Islands),
3.25%, 02/15/2027 (e)		91		84
3.95%, 07/01/2024 (e)		361		356
4.25%, 04/15/2026 (e)		520		502
5.25%, 05/15/2024 (e)		1,000		995
5.50%, 01/15/2026 (e)		500		497
Bread Financial Holdings, Inc., 9.75%, 03/15/2029 (e)		975		1,007
Cantor Fitzgerald LP, 7.20%, 12/12/2028 (e)		3,800		3,900
Capital One Financial Corp.,
(United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa)		260		258
(United States SOFR + 2.86%), 6.38%, 06/08/2034 (aa)		434		447
Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin, 3.88%, 02/15/2026 (e)		250		230
Enact Holdings, Inc., 6.50%, 08/15/2025 (e)		1,187		1,183
Encore Capital Group, Inc., Reg. S, 5.38%, 02/15/2026	GBP	200		242


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Diversified Financial Services — continued
Garfunkelux Holdco 3 SA, (Luxembourg), Reg. S, 6.75%, 11/01/2025	EUR	200		174
GGAM Finance Ltd., (Cayman Islands),
7.75%, 05/15/2026 (e)		202		205
8.00%, 02/15/2027 (e)		3,187		3,259
8.00%, 06/15/2028 (e)		518		536
Global Aircraft Leasing Co. Ltd., (Cayman Islands), 6.50% (cash), 09/15/2024 (e) (v)		162		153
goeasy Ltd., (Canada), 9.25%, 12/01/2028 (e)		570		609
Intrum AB, (Sweden),
Reg. S, 3.50%, 07/15/2026	EUR	150		140
Reg. S, 4.88%, 08/15/2025	EUR	140		144
Jefferies Finance LLC / JFIN Co-Issuer Corp., 5.00%, 08/15/2028 (e)		3,731		3,343
LD Holdings Group LLC, 6.13%, 04/01/2028 (e)		1,328		1,132
LFS Topco LLC, 5.88%, 10/15/2026 (e)		625		574
LPL Holdings, Inc.,
4.00%, 03/15/2029 (e)		217		200
4.38%, 05/15/2031 (e)		225		204
4.63%, 11/15/2027 (e)		245		237
Macquarie Airfinance Holdings Ltd., (United Kingdom),
8.13%, 03/30/2029 (e)		2,607		2,725
8.38%, 05/01/2028 (e)		325		340
Nationstar Mortgage Holdings, Inc.,
5.00%, 02/01/2026 (e)		7,023		6,867
5.13%, 12/15/2030 (e)		2,751		2,494
5.50%, 08/15/2028 (e)		1,951		1,880
5.75%, 11/15/2031 (e)		509		475
6.00%, 01/15/2027 (e)		1,339		1,329
Navient Corp.,
5.50%, 03/15/2029		2,763		2,548
5.88%, 10/25/2024		190		190
6.75%, 06/25/2025		674		682
9.38%, 07/25/2030		2,520		2,641
NFP Corp.,
4.88%, 08/15/2028 (e)		3,176		3,143
6.88%, 08/15/2028 (e)		7,447		7,569
7.50%, 10/01/2030 (e)		1,134		1,206
8.50%, 10/01/2031 (e)		850		920
Nuveen Finance LLC, 4.13%, 11/01/2024 (e)		270		266
OneMain Finance Corp.,
3.50%, 01/15/2027		391		362
3.88%, 09/15/2028		1,100		973
4.00%, 09/15/2030		3,172		2,714
5.38%, 11/15/2029		301		282
6.63%, 01/15/2028		255		258
6.88%, 03/15/2025		2,950		2,986
7.13%, 03/15/2026		746		760
7.88%, 03/15/2030		2,551		2,626
9.00%, 01/15/2029		3,624		3,834


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Diversified Financial Services — continued
Park Aerospace Holdings Ltd., (Cayman Islands), 5.50%, 02/15/2024 (e)		250		250
PennyMac Financial Services, Inc.,
4.25%, 02/15/2029 (e)		925		833
5.38%, 10/15/2025 (e)		1,175		1,161
7.88%, 12/15/2029 (e)		1,673		1,722
Pingan Real Estate Capital Ltd., (Hong Kong), Reg. S, 3.45%, 07/29/2026		2,200		1,518
REC Ltd., (India), Reg. S, 3.50%, 12/12/2024		2,000		1,961
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc.,
2.88%, 10/15/2026 (e)		4,150		3,828
3.63%, 03/01/2029 (e)		695		629
3.88%, 03/01/2031 (e)		2,004		1,761
4.00%, 10/15/2033 (e)		1,112		946
Shriram Finance Ltd., (India), Reg. S, 4.40%, 03/13/2024		7,778		7,722
SLM Corp., 3.13%, 11/02/2026		61		57


				99,953

Insurance — 2.2%
Acrisure LLC / Acrisure Finance, Inc.,
6.00%, 08/01/2029 (e)		57		52
7.00%, 11/15/2025 (e)		2,025		2,020
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer,
4.25%, 10/15/2027 (e)		5,912		5,682
5.88%, 11/01/2029 (e)		6,373		6,038
6.75%, 10/15/2027 (e)		9,540		9,458
6.75%, 04/15/2028 (e)		1,793		1,834
7.00%, 01/15/2031 (e)		2,270		2,387
AmWINS Group, Inc., 4.88%, 06/30/2029 (e)		2,336		2,130
Aon Corp., 8.21%, 01/01/2027		269		287
Brighthouse Financial Global Funding, 1.55%, 05/24/2026 (e)		328		300
BroadStreet Partners, Inc., 5.88%, 04/15/2029 (e)		1,636		1,527
CNO Financial Group, Inc., 5.25%, 05/30/2025		250		248
CNO Global Funding, 1.75%, 10/07/2026 (e)		406		367
Corebridge Global Funding, 5.75%, 07/02/2026 (e)		66		67
Equitable Financial Life Global Funding,
1.40%, 07/07/2025 (e)		183		173
5.45%, 03/03/2028 (e)		182		183
F&G Annuities & Life, Inc., 7.40%, 01/13/2028		92		95
F&G Global Funding,
0.90%, 09/20/2024 (e)		400		385
1.75%, 06/30/2026 (e)		220		199
2.30%, 04/11/2027 (e)		444		399


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Insurance — continued
FWD Group Holdings Ltd., (Cayman Islands),
Reg. S, (CMT Index 5 Year + 4.88%), 6.38%, 09/13/2024 (x) (aa)		1,500		1,321
Reg. S, (CMT Index 5 Year + 4.87%), 8.05%, 06/15/2024 (x) (aa)		7,600		6,909
GA Global Funding Trust,
0.80%, 09/13/2024 (e)		674		648
3.85%, 04/11/2025 (e)		483		473
Galaxy Bidco Ltd., (Jersey), Reg. S, 6.50%, 07/31/2026	GBP	157		193
GTCR AP Finance, Inc., 8.00%, 05/15/2027 (e)		1,631		1,647
HUB International Ltd.,
7.00%, 05/01/2026 (e)		2,817		2,828
7.25%, 06/15/2030 (e)		7,399		7,815
Jackson National Life Global Funding,
3.05%, 04/29/2026 (e)		500		471
5.50%, 01/09/2026 (e)		500		500
Jones Deslauriers Insurance Management, Inc., (Canada),
8.50%, 03/15/2030 (e)		2,461		2,585
10.50%, 12/15/2030 (e)		1,119		1,179
Muang Thai Life Assurance PCL, (Thailand), Reg. S, (CMT Index 10 Year + 2.40%), 3.55%, 01/27/2037 (aa)		2,400		2,204
Mutual of Omaha Cos. Global Funding, 5.80%, 07/27/2026 (e)		65		66
Peak RE Bvi Holding Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 5.01%), 5.35%, 10/28/2025 (x) (aa)		2,200		1,828
Ryan Specialty LLC, 4.38%, 02/01/2030 (e)		776		720
Tongyang Life Insurance Co. Ltd., (South Korea), Reg. S, (CMT Index 5 Year + 4.98%), 5.25%, 09/22/2025 (x) (aa)		2,000		1,831
USI, Inc., 7.50%, 01/15/2032 (e)		2,096		2,140
ZhongAn Online P&C Insurance Co. Ltd., (China), Reg. S, 3.13%, 07/16/2025		4,750		4,375


				73,564

Investment Companies — 1.2%
Ares Capital Corp., 7.00%, 01/15/2027		630		648
Blackstone Private Credit Fund,
3.25%, 03/15/2027		498		457
7.05%, 09/29/2025		602		613
Blue Owl Capital Corp.,
3.40%, 07/15/2026		424		394
3.75%, 07/22/2025		529		507
Blue Owl Capital Corp. II, 8.45%, 11/15/2026 (e)		672		693
Blue Owl Credit Income Corp.,
3.13%, 09/23/2026		284		259
5.50%, 03/21/2025		195		192
7.75%, 09/16/2027		1,603		1,654
Compass Group Diversified Holdings LLC, 5.25%, 04/15/2029 (e)		1,450		1,370


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Investment Companies — continued
Huarong Finance 2017 Co. Ltd., (British Virgin Islands),
Reg. S, 4.25%, 11/07/2027		1,900		1,729
Reg. S, 4.75%, 04/27/2027		8,300		7,696
Huarong Finance 2019 Co. Ltd., (British Virgin Islands),
Reg. S, 3.25%, 11/13/2024		2,200		2,128
Reg. S, 3.75%, 05/29/2024		1,000		984
Reg. S, 4.50%, 05/29/2029		900		795
Reg. S, (SOFR Compounded Index + 1.51%), 6.91%, 02/24/2025 (aa)		1,400		1,391
Huarong Finance II Co. Ltd., (British Virgin Islands),
Reg. S, 4.63%, 06/03/2026		1,600		1,516
Reg. S, 5.00%, 11/19/2025		10,200		9,822
Icahn Enterprises LP / Icahn Enterprises Finance Corp.,
4.38%, 02/01/2029		2,177		1,818
5.25%, 05/15/2027		4,264		3,838
6.25%, 05/15/2026		252		240
9.75%, 01/15/2029 (e)		1,342		1,369
Oaktree Strategic Credit Fund, 8.40%, 11/14/2028 (e)		745		786


				40,899

Real Estate — 2.2%
ADLER Group SA, (Luxembourg), Reg. S, 21.00% (PIK), 07/31/2025 (v)	EUR	100		108
Agile Group Holdings Ltd., (Cayman Islands),
Reg. S, 5.50%, 04/21/2025		6,300		882
Reg. S, 5.50%, 05/17/2026		1,700		216
Reg. S, 5.75%, 01/02/2025		7,350		1,115
Reg. S, 6.05%, 10/13/2025		800		94
Agps Bondco plc, (United Kingdom),
Reg. S, 5.00%, 01/14/2029	EUR	100		35
Reg. S, 5.50%, 11/13/2026	EUR	200		76
Reg. S, 6.00%, 08/05/2025	EUR	100		40
Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp.,
7.00%, 04/15/2030 (e)		429		396
Series AI, 7.00%, 04/15/2030		2,090		1,927
Aroundtown SA, (Luxembourg), Reg. S, 0.38%, 04/15/2027	EUR	100		89
ATF Netherlands BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.38%), 7.08%, 01/20/2025 (x) (aa)	EUR	300		142
BRANICKS Group AG, (Germany), Reg. S, 2.25%, 09/22/2026	EUR	100		38
CIFI Holdings Group Co. Ltd., (Cayman Islands),
Reg. S, 4.45%, 08/17/2026 (d)		4,450		283
Reg. S, 6.00%, 07/16/2025 (d)		2,700		169
Country Garden Holdings Co. Ltd., (Cayman Islands),
Reg. S, 2.70%, 07/12/2026 (d)		5,900		431
Reg. S, 3.88%, 10/22/2030 (d)		4,773		352


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Real Estate — continued
Reg. S, 4.20%, 02/06/2026 (d)		6,700		543
Reg. S, 5.63%, 01/14/2030 (d)		200		15
Reg. S, 7.25%, 04/08/2026 (d)		5,300		421
Cushman & Wakefield US Borrower LLC,
6.75%, 05/15/2028 (e)		2,168		2,157
8.88%, 09/01/2031 (e)		218		231
DEMIRE Deutsche Mittelstand Real Estate AG, (Germany), Reg. S, 1.88%, 10/15/2024	EUR	100		66
Easy Tactic Ltd., (British Virgin Islands),
Reg. S, 7.50% (PIK), 07/11/2025 (v)		415		21
Reg. S, 7.50% (PIK), 07/11/2027 (v)		15,367		639
Reg. S, 7.50% (PIK), 07/11/2028 (v)		11,226		435
Five Point Operating Co. LP / Five Point Capital Corp., 7.88%, 11/15/2025 (e)		2,280		2,257
GLP Pte Ltd., (Singapore),
Reg. S, 3.88%, 06/04/2025		1,600		1,057
Reg. S, (CMT Index 5 Year + 3.74%), 4.50%, 05/17/2026 (x) (aa)		700		221
Reg. S, (CMT Index 5 Year + 3.73%), 4.60%, 06/29/2027 (x) (aa)		2,260		702
Greenland Global Investment Ltd., (British Virgin Islands), Reg. S, 8.25% (PIK), 01/22/2031 (v)		8,700		1,186
Greystar Real Estate Partners LLC, 7.75%, 09/01/2030 (e)		400		419
Heimstaden Bostad AB, (Sweden), Reg. S, (EUR Swap Rate 5 Year + 3.91%), 3.38%, 01/15/2026 (x) (aa)	EUR	150		68
Heimstaden Bostad Treasury BV, (Netherlands), Reg. S, 1.00%, 04/13/2028	EUR	100		79
Howard Hughes Corp. (The),
4.13%, 02/01/2029 (e)		206		184
4.38%, 02/01/2031 (e)		2,673		2,318
5.38%, 08/01/2028 (e)		2,500		2,403
Hunt Cos., Inc., 5.25%, 04/15/2029 (e)		2,740		2,443
KWG Group Holdings Ltd., (Cayman Islands), Reg. S, 5.95%, 08/10/2025 (d)		4,400		268
Longfor Group Holdings Ltd., (Cayman Islands),
Reg. S, 3.95%, 09/16/2029		8,700		3,925
Reg. S, 4.50%, 01/16/2028		1,200		608
New Metro Global Ltd., (British Virgin Islands),
Reg. S, 4.50%, 05/02/2026		1,100		264
Reg. S, 4.80%, 12/15/2024		3,700		1,443
NWD Finance BVI Ltd., (British Virgin Islands),
Reg. S, (CMT Index 5 Year + 5.86%), 4.13%, 03/10/2028 (x) (aa)		8,000		4,324
Reg. S, 4.80%, 01/29/2024 (x)		1,600		688
Reg. S, (CMT Index 5 Year + 7.89%), 5.25%, 03/22/2026 (x) (aa)		20,200		13,221
Reg. S, (CMT Index 3 Year + 6.20%), 6.15%, 03/16/2025 (x) (aa)		2,700		2,179


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Real Estate — continued
NWD MTN Ltd., (British Virgin Islands), Reg. S, 4.13%, 07/18/2029		600		454
Pakuwon Jati Tbk. PT, (Indonesia), Reg. S, 4.88%, 04/29/2028		1,000		927
PCPD Capital Ltd., (Cayman Islands), Reg. S, 5.13%, 06/18/2026		3,275		2,570
RKPF Overseas 2019 A Ltd., (British Virgin Islands), Reg. S, 6.00%, 09/04/2025		2,000		876
RKPF Overseas 2020 A Ltd., (British Virgin Islands),
Reg. S, 5.13%, 07/26/2026		12,450		2,860
Reg. S, 5.20%, 01/12/2026		1,000		253
Seazen Group Ltd., (Cayman Islands), Reg. S, 4.45%, 07/13/2025		3,248		926
Shui On Development Holding Ltd., (Cayman Islands),
Reg. S, 5.50%, 06/29/2026		3,800		1,788
Reg. S, 6.15%, 08/24/2024		600		459
Sunac China Holdings Ltd., (Cayman Islands),
6.00% (PIK), 09/30/2025 (e) (v)		719		83
6.25% (PIK), 09/30/2026 (e) (v)		719		65
6.50% (PIK), 09/30/2027 (e) (v)		1,438		130
6.75% (PIK), 09/30/2028 (e) (v)		2,156		124
7.00% (PIK), 09/30/2029 (e) (v)		2,156		144
7.25% (PIK), 09/30/2030 (e) (v)		1,013		53
Times China Holdings Ltd., (Cayman Islands),
Reg. S, 5.55%, 06/04/2024 (d)		8,800		183
Reg. S, 6.60%, 03/02/2023 (d)		1,200		23
Vanke Real Estate Hong Kong Co. Ltd., (Hong Kong), Reg. S, 3.98%, 11/09/2027		3,800		2,538
Vivion Investments Sarl, (Luxembourg), Reg. S, 3.00%, 08/08/2024	EUR	100		103
VLL International, Inc., (Cayman Islands), Reg. S, 5.75%, 11/28/2024		4,400		4,296
Yanlord Land HK Co. Ltd., (Hong Kong), Reg. S, 5.13%, 05/20/2026		6,200		3,549


				73,582

REITS — 1.6%
American Tower Corp.,
1.60%, 04/15/2026		28		26
2.75%, 01/15/2027		750		703
3.60%, 01/15/2028		240		229
3.65%, 03/15/2027		429		413
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 4.50%, 04/01/2027 (e)		65		59
Crown Castle, Inc.,
3.65%, 09/01/2027		544		517
4.80%, 09/01/2028		88		87
Diversified Healthcare Trust,
4.38%, 03/01/2031		1,950		1,462
4.75%, 05/01/2024		250		249
4.75%, 02/15/2028		3,620		2,780
9.75%, 06/15/2025		333		327


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

REITS — continued
EPR Properties, 4.75%, 12/15/2026		247		236
GLP Capital LP / GLP Financing II, Inc.,
3.25%, 01/15/2032		1,404		1,185
5.25%, 06/01/2025		139		139
6.75%, 12/01/2033		684		738
HAT Holdings I LLC / HAT Holdings II LLC,
3.38%, 06/15/2026 (e)		1,208		1,135
8.00%, 06/15/2027 (e)		499		520
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/2032 (e)		1,771		1,618
Iron Mountain UK plc, (United Kingdom), Reg. S, 3.88%, 11/15/2025	GBP	100		122
Iron Mountain, Inc., 7.00%, 02/15/2029 (e)		3,002		3,086
Kite Realty Group Trust, 4.00%, 03/15/2025		99		97
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.,
4.75%, 06/15/2029 (e)		19		17
5.25%, 10/01/2025 (e)		201		198
MPT Operating Partnership LP / MPT Finance Corp.,
2.50%, 03/24/2026	GBP	979		1,012
3.50%, 03/15/2031		2,854		1,784
4.63%, 08/01/2029		4,834		3,475
5.00%, 10/15/2027		937		765
RHP Hotel Properties LP / RHP Finance Corp.,
4.50%, 02/15/2029 (e)		2,165		2,014
4.75%, 10/15/2027		1,931		1,865
7.25%, 07/15/2028 (e)		885		920
RLJ Lodging Trust LP, 4.00%, 09/15/2029 (e)		159		143
Sabra Health Care LP, 5.13%, 08/15/2026		250		246
SBA Communications Corp.,
3.13%, 02/01/2029		3,431		3,083
3.88%, 02/15/2027		2,159		2,074
Service Properties Trust, 8.63%, 11/15/2031 (e)		6,170		6,464
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 10.50%, 02/15/2028 (e)		3,979		4,034
VICI Properties LP,
4.95%, 02/15/2030		1,318		1,275
5.63%, 05/15/2052		1,322		1,270
VICI Properties LP / VICI Note Co., Inc.,
3.50%, 02/15/2025 (e)		329		321
3.75%, 02/15/2027 (e)		105		99
4.13%, 08/15/2030 (e)		146		133
4.50%, 09/01/2026 (e)		115		111
4.50%, 01/15/2028 (e)		500		477
4.63%, 06/15/2025 (e)		385		378
4.63%, 12/01/2029 (e)		2,754		2,596
5.63%, 05/01/2024 (e)		230		229
5.75%, 02/01/2027 (e)		1,088		1,089


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
REITS — continued
Vornado Realty LP, 3.50%, 01/15/2025		219		212
WEA Finance LLC / Westfield UK & Europe Finance plc, 3.75%, 09/17/2024 (e)		500		491


				52,503

Total Financial				484,927

Industrial — 10.0%
Aerospace/Defense — 1.9%
Boeing Co. (The),
1.43%, 02/04/2024		800		797
5.81%, 05/01/2050		1,505		1,565
5.93%, 05/01/2060		4,120		4,284
Bombardier, Inc., (Canada),
6.00%, 02/15/2028 (e)		3,068		2,988
7.13%, 06/15/2026 (e)		6,133		6,105
7.45%, 05/01/2034 (e)		351		400
7.50%, 02/01/2029 (e)		3,782		3,843
7.88%, 04/15/2027 (e)		4,965		4,966
8.75%, 11/15/2030 (e)		3,473		3,699
Embraer Netherlands Finance BV, (Netherlands), 7.00%, 07/28/2030 (e)		1,743		1,828
F-Brasile SpA / F-Brasile US LLC, (Italy), Series XR, 7.38%, 08/15/2026 (e)		3,000		2,932
HEICO Corp., 5.25%, 08/01/2028		78		80
Hexcel Corp., 4.95%, 08/15/2025		136		135
Rolls-Royce plc, (United Kingdom),
3.63%, 10/14/2025 (e)		364		350
5.75%, 10/15/2027 (e)		2,702		2,707
Spirit AeroSystems, Inc.,
9.38%, 11/30/2029 (e)		2,925		3,200
9.75%, 11/15/2030 (e)		3,254		3,499
TransDigm, Inc.,
5.50%, 11/15/2027		400		392
6.25%, 03/15/2026 (e)		775		773
6.75%, 08/15/2028 (e)		7,119		7,283
7.13%, 12/01/2031 (e)		4,982		5,219
7.50%, 03/15/2027		500		502
Triumph Group, Inc., 9.00%, 03/15/2028 (e)		5,842		6,211


				63,758

Building Materials — 1.5%
Camelot Return Merger Sub, Inc., 8.75%, 08/01/2028 (e)		3,520		3,573
Carrier Global Corp., 5.80%, 11/30/2025 (e)		79		80
Cornerstone Building Brands, Inc., 6.13%, 01/15/2029 (e)		500		410
Eco Material Technologies, Inc., 7.88%, 01/31/2027 (e)		2,100		2,100
Emerald Debt Merger Sub LLC,
6.38%, 12/15/2030 (e)	EUR	731		862
6.63%, 12/15/2030 (e)		12,678		12,949
Griffon Corp., 5.75%, 03/01/2028		655		644


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Building Materials — continued
JELD-WEN, Inc., 4.63%, 12/15/2025 (e)		960		929
Knife River Corp., 7.75%, 05/01/2031 (e)		425		452
Masonite International Corp., (Canada),
3.50%, 02/15/2030 (e)		97		84
5.38%, 02/01/2028 (e)		588		564
MIWD Holdco II LLC / MIWD Finance Corp., 5.50%, 02/01/2030 (e)		1,150		1,018
New Enterprise Stone & Lime Co., Inc.,
5.25%, 07/15/2028 (e)		881		840
9.75%, 07/15/2028 (e)		1,023		1,023
PCF GmbH, (Germany), Reg. S, 4.75%, 04/15/2026	EUR	100		80
Smyrna Ready Mix Concrete LLC,
6.00%, 11/01/2028 (e)		4,969		4,893
8.88%, 11/15/2031 (e)		3,960		4,163
Standard Industries, Inc.,
Reg. S, 2.25%, 11/21/2026	EUR	467		486
3.38%, 01/15/2031 (e)		4,900		4,215
4.38%, 07/15/2030 (e)		2,135		1,965
4.75%, 01/15/2028 (e)		157		151
5.00%, 02/15/2027 (e)		701		683
Summit Materials LLC / Summit Materials Finance Corp.,
5.25%, 01/15/2029 (e)		38		37
7.25%, 01/15/2031 (e)		2,369		2,493
Vulcan Materials Co., 5.80%, 03/01/2026		191		191
West China Cement Ltd., (Jersey), Reg. S, 4.95%, 07/08/2026		9,200		6,637


				51,522

Electrical Components & Equipments — 0.2%
Energizer Holdings, Inc.,
4.38%, 03/31/2029 (e)		750		674
6.50%, 12/31/2027 (e)		1,050		1,050
EnerSys, 4.38%, 12/15/2027 (e)		560		532
WESCO Distribution, Inc.,
7.13%, 06/15/2025 (e)		607		612
7.25%, 06/15/2028 (e)		2,360		2,425

				5,293

Electronics — 0.6%
AAC Technologies Holdings, Inc., (Cayman Islands), Reg. S, 3.00%, 11/27/2024		7,350		7,048
Coherent Corp., 5.00%, 12/15/2029 (e)		1,775		1,686
Imola Merger Corp., 4.75%, 05/15/2029 (e)		1,957		1,860
Keysight Technologies, Inc., 4.60%, 04/06/2027		71		71
Likewize Corp., 9.75%, 10/15/2025 (e)		1,780		1,805
Sensata Technologies BV, (Netherlands),
4.00%, 04/15/2029 (e)		74		69
5.88%, 09/01/2030 (e)		464		461
Sensata Technologies, Inc.,
3.75%, 02/15/2031 (e)		990		872
4.38%, 02/15/2030 (e)		4,119		3,820
TD SYNNEX Corp., 1.25%, 08/09/2024		825		804

				18,496


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Engineering & Construction — 0.9%
Abertis Infraestructuras Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 3.69%), 3.25%, 11/24/2025 (x) (aa)	EUR	300		317
Arcosa, Inc., 4.38%, 04/15/2029 (e)		1,705		1,588
Azzurra Aeroporti SpA, (Italy), Reg. S, 2.13%, 05/30/2024	EUR	323		352
Brand Industrial Services, Inc., 10.38%, 08/01/2030 (e)		6,947		7,347
Celestial Miles Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 8.21%), 5.75%, 01/31/2024 (x) (aa)		11,050		11,011
Cellnex Finance Co. SA, (Spain),
Reg. S, 1.00%, 09/15/2027	EUR	100		101
Reg. S, 1.25%, 01/15/2029	EUR	300		296
Reg. S, 1.50%, 06/08/2028	EUR	100		101
Reg. S, 2.00%, 02/15/2033	EUR	100		94
Cellnex Telecom SA, (Spain), Reg. S, 1.75%, 10/23/2030	EUR	100		97
Dycom Industries, Inc., 4.50%, 04/15/2029 (e)		343		318
GMR Hyderabad International Airport Ltd., (India),
Reg. S, 4.25%, 10/27/2027		1,700		1,552
Reg. S, 4.75%, 02/02/2026		6,050		5,807
Heathrow Finance plc, (United Kingdom), Reg. S, 5.75%, 03/03/2025	GBP	200		253
India Airport Infra, (Mauritius), Reg. S, 6.25%, 10/25/2025		966		949
Infrastrutture Wireless Italiane SpA, (Italy), Reg. S, 1.63%, 10/21/2028	EUR	200		204
Jacobs Engineering Group, Inc., 6.35%, 08/18/2028		309		323
TopBuild Corp., 3.63%, 03/15/2029 (e)		500		453
Webuild SpA, (Italy), Reg. S, 7.00%, 09/27/2028	EUR	100		116


				31,279

Environmental Control — 0.7%
Clean Harbors, Inc.,
4.88%, 07/15/2027 (e)		252		247
5.13%, 07/15/2029 (e)		41		39
6.38%, 02/01/2031 (e)		774		788
Covanta Holding Corp.,
4.88%, 12/01/2029 (e)		1,590		1,389
5.00%, 09/01/2030		781		665
GFL Environmental, Inc., (Canada),
3.50%, 09/01/2028 (e)		185		171
4.00%, 08/01/2028 (e)		1,587		1,467
4.38%, 08/15/2029 (e)		1,962		1,812
4.75%, 06/15/2029 (e)		2,403		2,263
6.75%, 01/15/2031 (e)		4,024		4,147
Madison IAQ LLC,
4.13%, 06/30/2028 (e)		1,116		1,015
5.88%, 06/30/2029 (e)		1,456		1,283


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Environmental Control — continued
Paprec Holding SA, (France),
Reg. S, 3.50%, 07/01/2028	EUR	100		106
Reg. S, 7.25%, 11/17/2029	EUR	100		118
Veralto Corp.,
5.35%, 09/18/2028 (e)		188		192
5.50%, 09/18/2026 (e)		215		218
Waste Pro USA, Inc., 5.50%, 02/15/2026 (e)		8,410		8,095


				24,015

Hand/Machine Tools — 0.1%
Regal Rexnord Corp.,
6.05%, 02/15/2026 (e)		114		115
6.05%, 04/15/2028 (e)		471		477
6.30%, 02/15/2030 (e)		1,600		1,644
6.40%, 04/15/2033 (e)		1,490		1,555


				3,791

Machinery — Construction & Mining — 0.3%
BWX Technologies, Inc.,
4.13%, 06/30/2028 (e)		341		316
4.13%, 04/15/2029 (e)		2,058		1,878
Terex Corp., 5.00%, 05/15/2029 (e)		2,552		2,405
Vertiv Group Corp., 4.13%, 11/15/2028 (e)		3,151		2,957
Weir Group plc (The), (United Kingdom), 2.20%, 05/13/2026 (e)		925		860


				8,416

Machinery — Diversified — 0.9%
ATS Corp., (Canada), 4.13%, 12/15/2028 (e)		114		105
Chart Industries, Inc.,
7.50%, 01/01/2030 (e)		3,440		3,599
9.50%, 01/01/2031 (e)		1,618		1,758
GrafTech Finance, Inc., 4.63%, 12/15/2028 (e)		1,150		762
GrafTech Global Enterprises, Inc., 9.88%, 12/15/2028 (e)		580		447
Husky III Holding Ltd., (Canada), 13.00% (cash), 02/15/2025 (e) (v)		122		122
Maxim Crane Works Holdings Capital LLC, 11.50%, 09/01/2028 (e)		1,425		1,477
Mueller Water Products, Inc., 4.00%, 06/15/2029 (e)		1,088		991
Novafives SAS, (France), Reg. S, 5.00%, 06/15/2025	EUR	100		108
OT Merger Corp., 7.88%, 10/15/2029 (e)		394		236
Renk AG / Frankfurt am Main, (Germany), Reg. S, 5.75%, 07/15/2025	EUR	200		219
Titan Acquisition Ltd. / Titan Co-Borrower LLC, (Multinational), 7.75%, 04/15/2026 (e)		7,395		7,442
TK Elevator Holdco GmbH, (Germany),
Reg. S, 6.63%, 07/15/2028	EUR	577		586
7.63%, 07/15/2028 (e)		3,711		3,645


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Machinery — Diversified — continued
TK Elevator Midco GmbH, (Germany), Reg. S, 4.38%, 07/15/2027	EUR	953		1,017
TK Elevator US Newco, Inc., 5.25%, 07/15/2027 (e)		7,616		7,484


				29,998

Metal Fabricate/Hardware — 0.1%
Advanced Drainage Systems, Inc.,
5.00%, 09/30/2027 (e)		564		544
6.38%, 06/15/2030 (e)		2,049		2,065
Roller Bearing Co. of America, Inc., 4.38%, 10/15/2029 (e)		695		643
Vallourec SACA, (France), Reg. S, 8.50%, 06/30/2026	EUR	200		222


				3,474

Miscellaneous Manufacturers — 0.1%
Amsted Industries, Inc.,
4.63%, 05/15/2030 (e)		1,716		1,570
5.63%, 07/01/2027 (e)		297		296
Gates Global LLC / Gates Corp., 6.25%, 01/15/2026 (e)		1,252		1,246
Trinity Industries, Inc.,
4.55%, 10/01/2024		400		394
7.75%, 07/15/2028 (e)		775		801


				4,307

Packaging & Containers — 1.9%
ARD Finance SA, (Luxembourg), 6.50% (cash), 06/30/2027 (e) (v)		2,224		1,039
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc, (Multinational),
Reg. S, 2.00%, 09/01/2028	EUR	100		98
Reg. S, 3.00%, 09/01/2029	EUR	400		355
3.25%, 09/01/2028 (e)		926		810
4.00%, 09/01/2029 (e)		5,119		4,337
6.00%, 06/15/2027 (e)		824		821
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc., (Multinational),
Reg. S, 2.13%, 08/15/2026	EUR	938		921
4.13%, 08/15/2026 (e)		2,053		1,873
Reg. S, 4.75%, 07/15/2027	GBP	100		92
5.25%, 04/30/2025 (e)		1,916		1,863
5.25%, 08/15/2027 (e)		894		694
Ball Corp.,
3.13%, 09/15/2031		354		306
6.00%, 06/15/2029		864		882
Clydesdale Acquisition Holdings, Inc.,
6.63%, 04/15/2029 (e)		2,619		2,576
8.75%, 04/15/2030 (e)		2,719		2,535
Crown Americas LLC, 5.25%, 04/01/2030		488		480
Crown European Holdings SA, (France),
Reg. S, 3.38%, 05/15/2025	EUR	100		110
Reg. S, 5.00%, 05/15/2028	EUR	100		114


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Packaging & Containers — continued
Fiber Bidco Spa, (Italy), Reg. S, 11.00%, 10/25/2027	EUR	200		241
Graham Packaging Co., Inc., 7.13%, 08/15/2028 (e)		1,325		1,192
Graphic Packaging International LLC,
Reg. S, 2.63%, 02/01/2029	EUR	400		407
3.50%, 03/01/2029 (e)		825		742
4.13%, 08/15/2024		475		470
Intelligent Packaging Holdco Issuer LP, (Canada), 9.00% (cash), 01/15/2026 (e) (v)		1,775		1,514
Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, (Canada), 6.00%, 09/15/2028 (e)		1,539		1,434
Kleopatra Finco Sarl, (Luxembourg), Reg. S, 4.25%, 03/01/2026	EUR	140		127
LABL, Inc.,
5.88%, 11/01/2028 (e)		2,395		2,173
6.75%, 07/15/2026 (e)		2,525		2,455
8.25%, 11/01/2029 (e)		350		295
9.50%, 11/01/2028 (e)		2,510		2,535
10.50%, 07/15/2027 (e)		675		648
Mauser Packaging Solutions Holding Co.,
7.88%, 08/15/2026 (e)		16,075		16,358
9.25%, 04/15/2027 (e)		430		422
OI European Group BV, (Netherlands),
4.75%, 02/15/2030 (e)		250		234
6.25%, 05/15/2028 (e)	EUR	568		656
Owens-Brockway Glass Container, Inc.,
6.63%, 05/13/2027 (e)		354		354
7.25%, 05/15/2031 (e)		1,272		1,290
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc., 4.38%, 10/15/2028 (e)		875		815
Sealed Air Corp.,
4.00%, 12/01/2027 (e)		89		83
5.00%, 04/15/2029 (e)		267		257
Sealed Air Corp. / Sealed Air Corp. US, 6.13%, 02/01/2028 (e)		375		378
Trident TPI Holdings, Inc., 12.75%, 12/31/2028 (e)		2,570		2,750
TriMas Corp., 4.13%, 04/15/2029 (e)		525		472
Trivium Packaging Finance BV, (Netherlands),
5.50%, 08/15/2026 (e)		3,818		3,746
8.50%, 08/15/2027 (e)		800		784

				62,738

Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc., 2.04%, 08/16/2028		768		676

Transportation — 0.4%
GN Bondco LLC, 9.50%, 10/15/2031 (e)		4,019		3,924


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Transportation — continued
Mobico Group plc, (United Kingdom), Reg. S, (UK Gilts 5 Year + 4.14%), 4.25%, 11/26/2025 (x) (aa)	GBP	175		196
Poste Italiane SpA, (Italy), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.68%), 2.63%, 03/24/2029 (x) (aa)	EUR	200		181
RXO, Inc., 7.50%, 11/15/2027 (e)		883		911
Seaspan Corp., (Marshall Island), Reg. S, 5.50%, 08/01/2029		2,400		2,008
XPO, Inc.,
6.25%, 06/01/2028 (e)		650		658
7.13%, 06/01/2031 (e)		150		156
7.13%, 02/01/2032 (e)		800		825
Yunda Holding Investment Ltd., (British Virgin Islands), Reg. S, 2.25%, 08/19/2025		6,300		5,748


				14,607

Trucking & Leasing — 0.4%
Fortress Transportation and Infrastructure Investors LLC,
5.50%, 05/01/2028 (e)		4,194		4,036
6.50%, 10/01/2025 (e)		3,515		3,504
7.88%, 12/01/2030 (e)		4,338		4,519
9.75%, 08/01/2027 (e)		1,034		1,075
Penske Truck Leasing Co. LP / PTL Finance Corp.,
4.20%, 04/01/2027 (e)		697		674
6.05%, 08/01/2028 (e)		315		327


				14,135

Total Industrial				336,505

Technology — 3.9%
Computers — 1.0%
Atos SE, (France),
Reg. S, 1.75%, 05/07/2025	EUR	100		84
Reg. S, 2.50%, 11/07/2028	EUR	100		66
Banff Merger Sub, Inc., Reg. S, 8.38%, 09/01/2026	EUR	106		115
Booz Allen Hamilton, Inc.,
3.88%, 09/01/2028 (e)		173		163
4.00%, 07/01/2029 (e)		1,519		1,424
CA Magnum Holdings, (Mauritius),
5.38%, 10/31/2026 (e)		3,578		3,328
Reg. S, 5.38%, 10/31/2026		9,550		8,881
Dell International LLC / EMC Corp.,
4.90%, 10/01/2026		200		200
6.02%, 06/15/2026		196		201
KBR, Inc., 4.75%, 09/30/2028 (e)		438		406
Lenovo Group Ltd., (Hong Kong),
5.83%, 01/27/2028 (e)		1,600		1,631
Reg. S, 6.54%, 07/27/2032		1,700		1,812
McAfee Corp., 7.38%, 02/15/2030 (e)		8,135		7,432
NCR Atleos Corp., 9.50%, 04/01/2029 (e)		1,237		1,314


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Computers — continued
NCR Voyix Corp.,
5.13%, 04/15/2029 (e)		1,551		1,474
5.25%, 10/01/2030 (e)		1,052		966
Presidio Holdings, Inc., 4.88%, 02/01/2027 (e)		203		199
Seagate HDD Cayman, (Cayman Islands),
8.25%, 12/15/2029 (e)		2,242		2,418
8.50%, 07/15/2031 (e)		2,131		2,313
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 5.75%, 06/01/2025 (e)		949		951


				35,378

Semiconductors — 0.3%
ams-OSRAM AG, (Austria), Reg. S, 10.50%, 03/30/2029	EUR	163		195
Entegris Escrow Corp., 4.75%, 04/15/2029 (e)		8,287		7,981
Entegris, Inc., 4.38%, 04/15/2028 (e)		476		453
Microchip Technology, Inc., 4.25%, 09/01/2025		712		702
Micron Technology, Inc., 5.38%, 04/15/2028		44		45
Qorvo, Inc., 1.75%, 12/15/2024		137		131
Synaptics, Inc., 4.00%, 06/15/2029 (e)		882		791


				10,298

Software — 2.6%
Alteryx, Inc., 8.75%, 03/15/2028 (e)		2,353		2,505
AthenaHealth Group, Inc., 6.50%, 02/15/2030 (e)		11,728		10,647
Black Knight InfoServ LLC, 3.63%, 09/01/2028 (e)		3,990		3,785
Boxer Parent Co., Inc.,
Reg. S, 6.50%, 10/02/2025	EUR	300		330
7.13%, 10/02/2025 (e)		2,816		2,831
9.13%, 03/01/2026 (e)		2,719		2,717
Camelot Finance SA, (Luxembourg), 4.50%, 11/01/2026 (e)		279		273
Capstone Borrower, Inc., 8.00%, 06/15/2030 (e)		1,410		1,467
Cedacri Mergeco SPA, (Italy), Reg. S, (ICE LIBOR EUR 3 Month + 5.50%), 9.50%, 05/15/2028 (aa)	EUR	100		109
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc., 8.00%, 06/15/2029 (e)		2,035		2,124
Central Parent, Inc. / CDK Global, Inc., 7.25%, 06/15/2029 (e)		3,102		3,170
Clarivate Science Holdings Corp.,
3.88%, 07/01/2028 (e)		5,417		5,108
4.88%, 07/01/2029 (e)		5,403		5,070
Cloud Software Group, Inc.,
6.50%, 03/31/2029 (e)		16,396		15,622
9.00%, 09/30/2029 (e)		8,497		8,094


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Software — continued
Concentrix Corp., 6.65%, 08/02/2026		75		77
Consensus Cloud Solutions, Inc., 6.50%, 10/15/2028 (e)		60		54
Dun & Bradstreet Corp. (The), 5.00%, 12/15/2029 (e)		3,456		3,224
Elastic NV, (Netherlands), 4.13%, 07/15/2029 (e)		2,106		1,934
Fair Isaac Corp., 4.00%, 06/15/2028 (e)		1,912		1,808
MicroStrategy, Inc., 6.13%, 06/15/2028 (e)		3,392		3,291
Open Text Corp., (Canada), 6.90%, 12/01/2027 (e)		2,245		2,334
Oracle Corp., 2.30%, 03/25/2028		615		561
Playtika Holding Corp., 4.25%, 03/15/2029 (e)		348		304
SS&C Technologies, Inc., 5.50%, 09/30/2027 (e)		1,902		1,874
Twilio, Inc.,
3.63%, 03/15/2029		228		208
3.88%, 03/15/2031		2,281		2,032
Veritas US, Inc. / Veritas Bermuda Ltd., 7.50%, 09/01/2025 (e)		321		265
ZoomInfo Technologies LLC / ZoomInfo Finance Corp., 3.88%, 02/01/2029 (e)		4,546		4,125


				85,943

Total Technology				131,619

Utilities — 3.9%
Electric — 3.7%
ACEN Finance Ltd., (Cayman Islands), Reg. S, 4.00%, 03/08/2025 (x)		5,000		3,168
Adani Green Energy Ltd., (India), Reg. S, 4.38%, 09/08/2024		1,500		1,448
AES Corp. (The),
3.30%, 07/15/2025 (e)		527		507
5.45%, 06/01/2028		206		210
Alexander Funding Trust II, 7.47%, 07/31/2028 (e)		982		1,032
Alliant Energy Finance LLC, 5.95%, 03/30/2029 (e)		400		416
Ameren Corp., 5.70%, 12/01/2026		874		895
American Electric Power Co., Inc., 5.20%, 01/15/2029		350		355
Avangrid, Inc., 3.20%, 04/15/2025		537		522
Black Hills Corp., 5.95%, 03/15/2028		137		142
Calpine Corp.,
3.75%, 03/01/2031 (e)		2,605		2,288
4.50%, 02/15/2028 (e)		973		925
4.63%, 02/01/2029 (e)		2,735		2,537
5.00%, 02/01/2031 (e)		4,486		4,113
5.13%, 03/15/2028 (e)		8,223		7,885
Cikarang Listrindo Tbk. PT, (Indonesia), Reg. S, 4.95%, 09/14/2026		6,400		6,136
Clean Renewable Power Mauritius Pte Ltd., (Mauritius), Reg. S, 4.25%, 03/25/2027		3,465		3,157


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Electric — continued
Clearway Energy Operating LLC,
3.75%, 01/15/2032 (e)		977		849
4.75%, 03/15/2028 (e)		796		766
Cleco Corporate Holdings LLC, 3.74%, 05/01/2026		497		480
Constellation Energy Generation LLC, 5.60%, 03/01/2028		127		131
Diamond II Ltd., (Mauritius), 7.95%, 07/28/2026 (e)		1,000		1,001
Duke Energy Corp., 2.65%, 09/01/2026		66		63
Edison International,
Series A, (CMT Index 5 Year + 4.70%), 5.38%, 03/15/2026 (x) (aa)		792		749
Series B, (CMT Index 5 Year + 3.90%), 5.00%, 12/15/2026 (x) (aa)		697		649
EDP—Energias de Portugal SA, (Portugal),
Reg. S, (EUR Swap Rate 5 Year + 1.84%), 1.70%, 07/20/2080 (aa)	EUR	100		106
Reg. S, (EUR Swap Rate 5 Year + 2.38%), 1.88%, 08/02/2081 (aa)	EUR	200		205
Electricite de France SA, (France),
Reg. S, (EUR Swap Rate 5 Year + 3.97%), 3.38%, 06/15/2030 (x) (aa)	EUR	400		387
5.70%, 05/23/2028 (e)		260		269
Reg. S, (GBP Swap Rate 13 Year + 4.23%), 6.00%, 01/29/2026 (x) (aa)	GBP	300		371
Evergy Missouri West, Inc., 5.15%, 12/15/2027 (e)		234		236
Eversource Energy, 5.95%, 02/01/2029		300		314
Fells Point Funding Trust, 3.05%, 01/31/2027 (e)		524		494
FirstEnergy Corp.,
2.05%, 03/01/2025		330		318
2.65%, 03/01/2030		229		198
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e)		223		219
Jersey Central Power & Light Co., 4.70%, 04/01/2024 (e)		1,018		1,014
JSW Hydro Energy Ltd., (India), Reg. S, 4.13%, 05/18/2031		4,669		4,056
LLPL Capital Pte Ltd., (Singapore), Reg. S, 6.88%, 02/04/2039		2,253		2,171
Minejesa Capital BV, (Netherlands), Reg. S, 4.63%, 08/10/2030		4,700		4,459
Mong Duong Finance Holdings BV, (Netherlands),
Reg. S, 5.13%, 05/07/2029		7,507		6,953
National Grid plc, (United Kingdom), 5.60%, 06/12/2028		91		94
Naturgy Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 2.44%), 2.37%, 11/23/2026 (x) (aa)	EUR	300		301
NextEra Energy Capital Holdings, Inc., 5.75%, 09/01/2025		154		156


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Electric — continued
NextEra Energy Operating Partners LP,
3.88%, 10/15/2026 (e)		671		639
7.25%, 01/15/2029 (e)		753		788
NRG Energy, Inc.,
3.63%, 02/15/2031 (e)		1,885		1,620
3.75%, 06/15/2024 (e)		500		494
3.88%, 02/15/2032 (e)		2,300		1,969
5.25%, 06/15/2029 (e)		1,204		1,166
5.75%, 01/15/2028		1,325		1,320
6.63%, 01/15/2027		538		539
7.00%, 03/15/2033 (e)		920		973
(CMT Index 5 Year + 5.92%), 10.25%, 03/15/2028 (e) (x) (aa)		3,729		3,882
Pacific Gas and Electric Co.,
3.15%, 01/01/2026		529		508
3.30%, 12/01/2027		270		252
3.75%, 02/15/2024		232		231
5.45%, 06/15/2027		9		9
6.95%, 03/15/2034		2,155		2,372
Palomino Funding Trust I, 7.23%, 05/17/2028 (e)		698		735
Pattern Energy Operations LP / Pattern Energy Operations, Inc., 4.50%, 08/15/2028 (e)		462		437
PG&E Corp., 5.25%, 07/01/2030		926		894
Pike Corp., 8.63%, 01/31/2031 (e)		402		422
Public Service Enterprise Group, Inc., 5.85%, 11/15/2027		123		128
Puget Energy, Inc., 3.65%, 05/15/2025		300		292
ReNew Wind Energy AP2 / ReNew Power Pvt Ltd. other 9 Subsidiaries, (India), Reg. S, 4.50%, 07/14/2028		10,000		8,895
SMC Global Power Holdings Corp., (Philippines), Reg. S, (CMT Index 5 Year + 9.20%), 7.00%, 10/21/2025 (x) (aa)		10,150		8,954
Star Energy Geothermal Wayang Windu Ltd., (British Virgin Islands), Reg. S, 6.75%, 04/24/2033		4,703		4,688
System Energy Resources, Inc., 6.00%, 04/15/2028		832		850
Talen Energy Supply LLC, 8.63%, 06/01/2030 (e)		606		647
TransAlta Corp., (Canada), 7.75%, 11/15/2029		772		819
Vistra Corp.,
(CMT Index 5 Year + 5.74%), 7.00%, 12/15/2026 (e) (x) (aa)		2,549		2,511
(CMT Index 5 Year + 6.93%), 8.00%, 10/15/2026 (e) (x) (aa)		1,975		1,966
Vistra Operations Co. LLC,
3.55%, 07/15/2024 (e)		1,474		1,453
4.38%, 05/01/2029 (e)		6,750		6,300
4.88%, 05/13/2024 (e)		495		492
5.00%, 07/31/2027 (e)		90		88


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Electric — continued
5.50%, 09/01/2026 (e)		835		826
5.63%, 02/15/2027 (e)		2,553		2,518
6.95%, 10/15/2033 (e)		961		1,012
7.75%, 10/15/2031 (e)		1,839		1,909
WEC Energy Group, Inc., 5.60%, 09/12/2026		125		127


				126,470

Gas — 0.2%
AmeriGas Partners LP / AmeriGas Finance Corp.,
5.50%, 05/20/2025		1,280		1,262
5.88%, 08/20/2026		1,450		1,435
9.38%, 06/01/2028 (e)		1,344		1,388
Brooklyn Union Gas Co. (The), 4.63%, 08/05/2027 (e)		341		333
CenterPoint Energy Resources Corp., 5.25%, 03/01/2028		78		80
National Fuel Gas Co., 5.50%, 01/15/2026		289		289
NiSource, Inc., 5.25%, 03/30/2028		47		48
ONE Gas, Inc., 1.10%, 03/11/2024		125		124
Southwest Gas Corp., 5.45%, 03/23/2028		100		102
UGI International LLC, Reg. S, 2.50%, 12/01/2029	EUR	100		94


				5,155

Water — 0.0% (g)
Thames Water Utilities Finance plc, (United Kingdom), Reg. S, 4.00%, 04/18/2027	EUR	100		106

Total Utilities				131,731

Total Corporate Bonds
(Cost $2,876,758)				2,857,517

Foreign Government Securities — 2.1%
Mongolia Government International Bond, (Mongolia),
Reg. S, 3.50%, 07/07/2027		2,000		1,781
Reg. S, 4.45%, 07/07/2031		5,100		4,259
Reg. S, 5.13%, 04/07/2026		4,400		4,259
8.65%, 01/19/2028 (e)		4,200		4,390
Reg. S, 8.65%, 01/19/2028		1,400		1,463
Oman Government International Bond, (Oman), Reg. S, 7.00%, 01/25/2051		1,300		1,402
Pakistan Government International Bond, (Pakistan),
Reg. S, 6.00%, 04/08/2026		13,400		9,402
Reg. S, 6.88%, 12/05/2027		22,000		14,960
Reg. S, 7.38%, 04/08/2031		9,650		5,850
Reg. S, 8.25%, 04/15/2024		500		472
Reg. S, 8.25%, 09/30/2025		2,200		1,859
Sri Lanka Government International Bond, (Sri Lanka),
Reg. S, 5.75%, 04/18/2023 (d)		2,600		1,320
6.20%, 05/11/2027 (d) (e)		15,600		7,824
Reg. S, 6.20%, 05/11/2027 (d)		3,800		1,906


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Foreign Government Securities — continued
Reg. S, 6.75%, 04/18/2028 (d)		4,000		1,997
Reg. S, 6.85%, 03/14/2024 (d)		12,100		6,079
Reg. S, 7.55%, 03/28/2030 (d)		2,000		997
Vietnam Government International Bond, (Vietnam), Series 30YR, 5.50%, 03/12/2028		222		212

Total Foreign Government Securities
(Cost $68,169)				70,432

U.S. Treasury Obligations — 2.0%
U.S. Treasury Inflation Indexed Notes,
0.13%, 04/15/2025		834		804
0.25%, 01/15/2025		1,043		1,013
0.50%, 04/15/2024		933		921
U.S. Treasury Notes,
2.50%, 05/31/2024 (ee)		26,890		26,590
2.75%, 04/30/2027		740		712
4.25%, 05/31/2025		527		525
4.88%, 11/30/2025		5,748		5,809
5.00%, 09/30/2025		10,358		10,466
5.00%, 10/31/2025		20,500		20,738

Total U.S. Treasury Obligations
(Cost $67,620)				67,578

	SHARES
Common Stocks — 0.2%
Basic Materials — 0.1%
Chemicals — 0.1%
Venator Materials plc, (United Kingdom) (a) (bb) (cc)		483,919		2,507

Communications — 0.1%
Telecommunications — 0.1%
Intelsat SA, (Luxembourg) (a) (f) (bb) (cc)		87		2,414

Financial — 0.0% (g)
Real Estate — 0.0% (g)
Sunac Services Holdings Ltd., (China), Reg. S (e)		5,839		1,401

Utilities — 0.0% (g)
Electric — 0.0% (g)
Heritage Power LLC (a) (f) (bb) (cc)		47		296

Total Common Stocks
(Cost $11,193)				6,618

Preferred Stock — 0.2%
Consumer Cyclical — 0.2%
Retail — 0.2%
Ferrellgas Escrow LLC, expiring, 03/30/2031 (a) (f) (bb) (cc)
(Cost $6,490)		6		6,467


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — 3.0% (o)
Basic Materials — 0.1%
Chemicals — 0.1%
ARC Falcon I, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.96%, 09/30/2028 (aa)		251		248
Discovery Purchaser Corp., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.38%), 9.77%, 10/04/2029 (aa)		2,382		2,345
Herens Holdco Sarl, Facility B (USD), (Luxembourg), (CME Term SOFR 3 Month + 3.93%), 9.37%, 07/03/2028 (aa)		615		555
Nutrition & Biosciences, Inc., 3-Year Delayed Draw Term Loan, (CME Term SOFR 3 Month + 1.63%), 7.09%, 2/1/2024 (f) (aa)		103		102
Venator Materials LLC, Delayed Draw Term Loan, (CME Term SOFR 1 Month + 8.00% (PIK) + 2.00% (Cash)), 15.36%, 10/12/2028 (aa)		114		113
Venator Materials LLC, Initial Term Loan, (CME Term SOFR 3 Month + 8.00% (PIK) + 2.00% (Cash)), 15.43%, 10/12/2028 (aa)		1,078		1,073

Total Basic Materials				4,436

Communications — 0.6%
Advertising — 0.1%
Clear Channel Outdoor Holdings, Inc., Term B Loan, (CME Term SOFR 3 Month + 3.50%), 9.14%, 08/21/2026 (aa)		3,339		3,300

Internet — 0.1%
Acuris Finance US, Inc., Initial Dollar Term Loan, (CME Term SOFR 3 Month + 4.00%), 9.50%, 02/16/2028 (aa)		178		178
MH Sub I LLC, 2020 June New Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.22%, 09/13/2024 (aa)		148		148
MH Sub I LLC, 2021 Replacement Term Loan (Second Lien), (CME Term SOFR 1 Month + 6.25%), 11.61%, 02/23/2029 (aa)		758		704
MH Sub I LLC, 2023 May Incremental Term Loan (First Lien), (CME Term SOFR 1 Month + 4.25%), 9.61%, 05/03/2028 (aa)		2,854		2,801
MH Sub I LLC, Amendment No. 2 Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.22%, 09/13/2024 (aa)		70		70


				3,901

Media — 0.2%
Charter Communications Operating LLC, Term B-2 Loan, (CME Term SOFR 3 Month + 1.75%), 7.13%, 02/01/2027 (aa)		413		413


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Media — continued
Diamond Sports Group LLC, Term Loan (First Lien), (CME Term SOFR 3 Month + 8.00%), 15.46%, 05/25/2026 (d)		2,745		1,990
Diamond Sports Group LLC, Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.25%), 10.71%, 08/24/2026 (d) (aa)		4,720		186
DIRECTV Financing LLC, Closing Date Term Loan, (CME Term SOFR 3 Month + 5.00%), 10.65%, 08/02/2027 (u) (aa)		3,446		3,442
Radiate Holdco LLC, Amendment No. 6 Term B Loan, (CME Term SOFR 1 Month + 3.25%), 8.72%, 09/25/2026 (u) (aa)		1,292		1,030


				7,061

Telecommunications — 0.2%
Digicel International Finance Ltd., Initial Term B Loan (First Lien), (Saint Lucia), (ICE LIBOR USD 3 Month + 3.25%), 8.86%, 05/28/2024 (d) (aa)		1,585		1,468
Level 3 Financing, Inc., TSA Term Loan, (CME Term SOFR 1 Month + 1.75%), 7.22%, 03/01/2027 (aa)		120		114
Lumen Technologies, Inc., Term B Loan, (CME Term SOFR 1 Month + 2.25%), 7.72%, 03/15/2027 (aa)		30		20
ViaSat, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.96%, 05/30/2030 (aa)		1,014		993
Xplore, Inc., Initial Term Loan (Second Lien), (Canada), (CME Term SOFR 3 Month + 7.00%), 12.61%, 10/01/2029 (aa)		1,300		305
Xplore, Inc., Refinancing Term Loan (First Lien), (Canada), (CME Term SOFR 3 Month + 4.00%), 9.61%, 10/02/2028 (aa)		3,241		1,926
Zayo Group Holdings, Inc., Initial Dollar Term Loan, (CME Term SOFR 1 Month + 3.00%), 8.47%, 03/09/2027 (u) (aa)		390		334


				5,160

Total Communications				19,422

Consumer Cyclical — 0.2%
Airlines — 0.1%
AAdvantage Loyalty IP Ltd., Initial Term Loan, (Cayman Islands), (CME Term SOFR 3 Month + 4.75%), 10.43%, 04/20/2028 (u) (aa)		1,826		1,874
Mileage Plus Holdings LLC, Initial Term Loan, (CME Term SOFR 3 Month + 5.25%), 10.77%, 06/21/2027 (aa)		53		54


				1,928

Auto Parts & Equipment — 0.0% (g)
Tenneco, Inc., Term A Loan (First Lien), (CME Term SOFR 3 Month + 4.75%), 10.22%, 11/17/2028 (aa)		895		780


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Auto Parts & Equipment — continued
Tenneco, Inc., Term B Loan (First Lien), (CME Term SOFR 3 Month + 5.00%), 10.47%, 11/17/2028 (aa)		584		514


				1,294

Commercial Services — 0.0% (g)
OMNIA Partners LLC, Initial Term Loan, (CME Term SOFR 3 Month + 4.25%), 9.63%, 07/25/2030 (u) (aa)		6		6

Cosmetics/Personal Care — 0.0% (g)
KDC/ONE Development Corp., Inc., Dollar Tranche Term Loan, (Canada), (CME Term SOFR 1 Month + 5.00%), 10.36%, 08/15/2028 (aa)		838		828

Lodging — 0.0% (g)
Resorts World Las Vegas LLC, Term A Facility Loan, (CME Term SOFR 1 Month + 1.50%), 6.86%, 04/16/2024 (aa)		500		499
Wyndham Hotels & Resorts, Inc., 2022 Term A Loan, (CME Term SOFR 1 Month + 1.75%), 7.21%, 04/08/2027 (aa)		292		291


				790

Retail — 0.1%
Great Outdoors Group LLC, Term B-2 Loan, (CME Term SOFR 1 Month + 3.75%), 9.22%, 03/06/2028 (aa)		2,456		2,454
White Cap Supply Holdings LLC, Initial Closing Date Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.11%, 10/19/2027 (aa)		319		319


				2,773

Total Consumer Cyclical				7,619

Consumer Non-cyclical — 0.4%
Beverages — 0.0% (g)
Naked Juice LLC, Initial Loan (Second Lien), (CME Term SOFR 3 Month + 6.00%), 11.45%, 01/24/2030 (aa)		111		89
Naked Juice LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 3.25%), 8.70%, 01/24/2029 (aa)		802		773

				862

Commercial Services — 0.2%
CoreLogic, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.97%, 06/02/2028 (aa)		748		726
PECF USS Intermediate Holding III Corp., Initial Term Loan, (CME Term SOFR 3 Month + 4.25%), 9.89%, 12/15/2028 (aa)		426		330
Sabre GLBL, Inc., 2021 Other Term B-1 Loan, (CME Term SOFR 1 Month + 3.50%), 8.97%, 12/17/2027 (aa)		250		218


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Commercial Services — continued
Sabre GLBL, Inc., 2021 Other Term B-2 Loan, (CME Term SOFR 1 Month + 3.50%), 8.97%, 12/17/2027 (aa)		395		344
Verscend Holding Corp., Term B-1 Loan, (CME Term SOFR 1 Month + 4.00%), 9.47%, 08/27/2025 (aa)		4,158		4,162

				5,780

Food — 0.0% (g)
US Foods, Inc., Incremental B-2019 Term Loan, (CME Term SOFR 1 Month + 2.00%), 7.47%, 09/13/2026 (aa)		224		224

Healthcare — Products — 0.1%
Bausch + Lomb Corp., Initial Term Loan, (Canada), (CME Term SOFR 1 Month + 3.25%), 8.71%, 05/10/2027 (aa)		1,189		1,173

Healthcare — Services — 0.1%
LifePoint Health, Inc., 2023 Refinancing Term Loan, (CME Term SOFR 3 Month + 5.50%), 10.91%, 11/16/2028 (aa)		555		553
Quorum Health Corp., Term Loan (Exit), (CME Term SOFR 3 Month + 8.25%), 13.76%, 04/29/2025 (aa)		612		367
Star Parent, Inc., Term Loan, (CME Term SOFR 3 Month + 4.00%), 9.35%, 09/27/2030 (aa)		1,686		1,664
Surgery Center Holdings, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 3.75%),8.86%, 12/19/2030		449		451

				3,035

Pharmaceuticals — 0.0% (g)
Gainwell Acquisition Corp., Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.45%, 10/01/2027 (aa)		1,069		1,038

Total Consumer Non-cyclical				12,112

Diversified — 0.0% (g)
Holding Companies — 0.0% (g)
Clue Opco LLC, Term B Loan, (CME Term SOFR 1 Month + 8.99%), 4.25%, 12/19/2030 (u)		887		839

Energy — 0.1%
Pipelines — 0.1%
Buckeye Partners LP, 2023 Tranche B-2 Term Loan, (CME Term SOFR 3 Month + 2.50%), 7.87%, 11/22/2030 (u) (aa)		65		65
Buckeye Partners, L.P., 2021 TRANCHE B-1TL REFINANCING, (CME Term SOFR 1 Month + 2.25%), 7.71%, 11/01/2026		97		98
New Fortress Energy, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 5.00%), 10.39%, 10/30/2028 (aa)		4,261		4,186

Total Energy				4,349


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Financial — 0.2%
Banks — 0.0% (g)
Ascensus Group Holdings, Inc., Initial Term Loan (Second Lien), (CME Term SOFR 3 Month + 6.50%), 12.18%, 08/02/2029 (aa)		325		312

Diversified Financial Services — 0.1%
Deerfield Dakota Holding LLC, 2021 Replacement Term Loan (Second Lien), (CME Term SOFR 3 Month + 6.75%), 12.36%, 04/07/2028 (aa)		763		726
Deerfield Dakota Holding LLC, Initial Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 3.75%), 9.10%, 04/09/2027 (u) (aa)		317		313
Setanta Aircraft Leasing DAC, Loan, (Ireland), (CME Term SOFR 3 Month + 2.00%), 7.61%, 11/05/2028 (aa)		237		238

				1,277

Insurance — 0.1%
Acrisure LLC, 2021-1 Additional Term Loan (First Lien), (Syn LIBOR 3 Month + 3.75%), 9.40%, 02/15/2027 (aa)		972		971
Alliant Holdings Intermediate LLC, TLB-6 New Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.86%, 11/06/2030 (aa)		210		211
Asurion LLC, New B-4 Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.25%), 10.72%, 01/20/2029 (aa)		1,475		1,387

				2,569

REITS — 0.0% (g)
Invitation Homes Operating Partnership LP, Term Loan A, (CME Term SOFR 1 Month + 1.00%), 6.46%, 01/31/2025 (aa)		837		827

Total Financial				4,985

Industrial — 0.4%
Electronics — 0.0% (g)
Indicor LLC, Tranche B Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.35%, 11/22/2029 (aa)		237		237

Engineering & Construction — 0.1%
Apple Bidco LLC, Amendment No. 3 Term Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.86%, 09/22/2028 (u) (aa)		456		458
Brand Industrial Services, Inc., Tranche B Term Loan, (CME Term SOFR 3 Month + 5.50%), 10.88%, 08/01/2030 (u) (aa)		3,773		3,746

				4,204


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Machinery — Diversified — 0.2%
Husky Injection Molding Systems Ltd., Initial Term Loan, (Canada), (CME Term SOFR 1 Month + 3.00%), 8.47%, 03/28/2025 (u) (aa)		5,070		5,059
SPX Flow, Inc., Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.96%, 04/05/2029 (aa)		1,527		1,531

				6,590

Packaging & Containers — 0.1%
Iris Holding, Inc., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.75%), 5.38%, 06/28/2028 (u)		349		321
Trident TPI Holdings, Inc., Tranche B-5 Initial Term Loan, (CME Term SOFR 3 Month + 4.50%), 9.85%, 09/15/2028 (aa)		580		580

				901

Total Industrial				11,932

Technology — 1.0%
Computers — 0.3%
Magenta Buyer LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 5.00%), 10.64%, 07/27/2028 (aa)		4,076		2,863
Magenta Buyer LLC, Initial Term Loan (Second Lien), (CME Term SOFR 3 Month + 8.25%), 13.89%, 07/27/2029 (aa)		491		186
McAfee Corp., Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.19%, 03/01/2029 (aa)		3,148		3,126
NCR Atleos LLC, Term B Loan, (CME Term SOFR 1 Month + 4.75%), 10.21%, 03/27/2029 (aa)		1,600		1,589
Peraton Corp., Term B-1 Loan (Second Lien), (CME Term SOFR 3 Month + 7.75%), 13.22%, 02/01/2029 (aa)		1,199		1,190

				8,954

Software — 0.7%
Ascend Learning LLC, Initial Term Loan (2021) (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.96%, 12/11/2028 (aa)		1,353		1,328
Ascend Learning LLC, Initial Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.75%), 11.21%, 12/10/2029 (aa)		458		391
athenahealth Group, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.25%), 8.61%, 02/15/2029 (aa)		5,842		5,810
Banff Guarantor, Inc., Initial Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.50%), 10.97%, 02/27/2026 (aa)		1,992		1,983
Boxer Parent Co., Inc., 2028 Extended Dollar Term Loan, (CME Term SOFR 1 Month + 4.25%), 9.61%, 12/29/2028 (u) (aa)		736		740


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Software — continued
Boxer Parent Co. Inc., 2028 Extended Dollar Term Loan, (CME Term SOFR 3 Month + 3.75%), 9.61%, 12/29/2028		908		909
Cloud Software Group, Inc., Dollar Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.50%), 9.95%, 03/30/2029 (aa)		3,305		3,222
Planview Parent, Inc., Closing Date Loan (Second Lien), (CME Term SOFR 3 Month + 7.25%), 12.70%, 12/18/2028 (aa)		180		164
Polaris Newco LLC, Dollar Term Loan (First Lien), (CME Term SOFR 1 Month + 4.00%), 9.47%, 06/02/2028 (aa)		1,554		1,531
Project Alpha Intermediate Holding, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 4.75%), 10.11%, 10/28/2030 (aa)		183		184
RealPage, Inc., Initial Loan (Second Lien), (CME Term SOFR 1 Month + 6.50%), 11.97%, 04/23/2029 (aa)		918		916
RealPage, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.00%), 8.47%, 04/24/2028 (aa)		2,914		2,887
Skillsoft Finance II, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 5.25%), 10.72%, 07/14/2028 (aa)		1,836		1,714
Sovos Compliance LLC, Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 4.50%), 9.97%, 08/11/2028 (aa)		1,010		996
UKG, Inc., 2021 Incremental Term Loan (Second Lien), (CME Term SOFR 3 Month + 5.25%), 10.76%, 05/03/2027 (aa)		2,087		2,087

				24,862

Total Technology				33,816

Utilities — 0.0% (g)
Electric — 0.0% (g)
Calpine Corp., Term Loan, (CME Term SOFR 1 Month + 2.00%), 7.47%, 08/12/2026 (aa)		199		199
Heritage Power LLC, Term Loan, (CME Term SOFR 3 Month + 5.50%), 10.87%, 07/20/2028 (aa)		156		148

Total Utilities				347

Total Loan Assignments (Cost $102,979)				99,857

Short-Term Investments — 2.0%
Commercial Papers — 0.2%
Arizona Public Service Co., 5.39%, 01/02/2024 (n)		2,500		2,498
CommonSpirit Health, 6.38%, 01/04/2024 (n)		2,000		1,998


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Short-Term Investments — continued
Commercial Papers — continued
Energy Transfer LP, 5.75%, 01/02/2024 (n)		2,000		1,999
Western Midstream Operating LP, 6.14%, 01/05/2024 (e) (n)		1,783		1,781

Total Commercial Papers				8,276

Time Deposits — 1.1%
BNP Paribas SA, 0.55%, 01/03/2024	CHF	1		1
Brown Brothers Harriman,
4.16%, 01/02/2024	GBP	5		6
4.25%, 01/02/2024	HKD	181		23
Citibank NA,
2.71%, 01/02/2024	EUR	202		223
4.68%, 01/02/2024		14,498		14,498
Royal Bank of Canada,
2.71%, 01/02/2024	EUR	2,127		2,348
3.79%, 01/02/2024	CAD	1		1
4.68%, 01/02/2024 (c)		1,175		1,175


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Time Deposits — continued
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 01/02/2024		20,801		20,801

Total Time Deposits				39,076

U.S. Treasury Obligations — 0.7%
U.S. Treasury Bills,
Zero Coupon, 04/16/2024		5,900		5,810
Zero Coupon, 02/06/2024		12,200		12,138
Zero Coupon, 01/09/2024		4,694		4,689

Total U.S. Treasury Obligations				22,637

Total Short-Term Investments (Cost $69,989)				69,989


Total Investments — 98.2% (Cost — $3,340,509)				3,313,176

Other Assets in Excess of Liabilities — 1.8%				58,510


NET ASSETS — 100.0%			$	3,371,686

Percentages indicated are based on net assets.


CDX		— Credit Default Swap Index
CLO		— Collateralized Loan Obligations
CMT		— Constant Maturity Treasury
EURIBOR		— Euro Interbank Offered Rate
FHLMC		— Federal Home Loan Mortgage Corp.
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
PIK		— Payment in Kind
Reg.S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REIT		— Real Estate Investment Trust
SOFR		— Secured Overnight Financing Rate
TSA		— Transaction Support Agreement
(a)		— Non-income producing security.
(c)		— All or a portion of this security is held by the Six Circles Credit Opportunities Fund (Cayman) Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands.
(d)		— Defaulted Security. Security has not paid its last interest payment and/or interest is not being accrued.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(f)		— Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.


(n)		— The rate shown is the effective yield as of December 31, 2023.
(o)		— Loan assignments are presented by obligor. Each Series or loan tranche underlying each obligor may have varying terms.
(u)		— All or a portion of the security is unsettled as of December 31, 2023. Unless otherwise indicated, the coupon rate is undetermined.
(v)		— Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(x)		— Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of December 31, 2023.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of December 31, 2023.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of December 31, 2023.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
(ee)		— Approximately $3,812 of this investment is restricted as collateral for swaps to Citigroup Clearing.
CAD		— Canadian Dollar
CHF		— Swiss Franc
EUR		— Euro
GBP		— British Pound
HKD		— Hong Kong Dollar
USD		— United States Dollar

Six Circles Trust (the “Trust”) was formed on November 8, 2017, as a Delaware statutory trust, pursuant to a Declaration of Trust dated November 8, 2017, as amended and restated June 12, 2018, and further amended to add fund series on September 21, 2018, November 19, 2019, and April 13, 2020, and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

The following are seven separate series of the Trust (each, a “Fund” and collectively, the “Funds”) covered by this report. Each Fund currently offers one class of shares.

The investment objective of each of the Six Circles Ultra Short Duration Fund and the Six Circles Tax Aware Ultra Short Duration Fund is to generate current income consistent with capital preservation.

The investment objective of each of the Six Circles U.S. Unconstrained Equity Fund and the Six Circles International Unconstrained Equity Fund is to provide capital appreciation.

The investment objective of the Six Circles Global Bond Fund and the Six Circles Credit Opportunities Fund is to provide total return.

The investment objective of the Six Circles Tax Aware Bond Fund is to provide after-tax total return.

J.P. Morgan Private Investments Inc. (“JPMPI”), an indirect, wholly-owned subsidiary of JPMorgan Chase & Co. (“JPMorgan”), acts as the Funds’ investment adviser (the “Adviser”). The Adviser has engaged certain Sub-Advisers to manage the assets of the Funds.

Effective November 8, 2023, the Six Circles Credit Opportunities Fund launched the Six Circles Credit Opportunities Fund (Cayman) Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by JPMPI and sub-advised by Pacific Investment Management Company LLC (“PIMCO”).

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements. The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 — Investment Companies, which is part of U.S. generally accepted accounting principles (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

The Subsidiary’s investments, as well as any other assets and liabilities of the Subsidiary, are reflected in the Fund’s Consolidated Schedule of Portfolio Investments and Consolidated Statement of Assets and Liabilities. All intercompany accounts and transactions have been eliminated in consolidation.

A. Valuation of Investments — The valuation of investments is in accordance with GAAP and the Funds’ valuation policies set forth by and under the supervision and responsibility of the Board of Trustees (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at unadjusted quoted prices and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

The Board has designated the Adviser as the Valuation Designee, and the Adviser uses the Six Circles Funds Valuation Committee (“VC”), comprised of officers of the Funds and other personnel of the Adviser, to assist the Board with the oversight and monitoring of the valuation of the Funds’ investments with respect to Rule 2a-5 under the 1940 Act. The VC oversees and carries out policies and procedures for the valuation of investments held by the Funds. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events and pricing vendor due diligence. The VC, through the Adviser, is responsible for assessing the potential impacts to the fair values on an ongoing basis, and discussing this on at least a quarterly basis with the Board.

by the valuation policies approved by the Board. The valuation may include related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment in order to determine the fair value of the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based on current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used, had a ready market for the investments existed, and such differences could be material.

Equity securities listed on a North American, Central American, South American or Caribbean (“Americas”) securities exchange are generally valued at the last sale price or official market closing price on the primary exchange on which the security is principally traded that is reported before the time when the net assets values of the Funds are calculated on a valuation date. The Funds calculate their NAV as of 4 p.m. Eastern time each day the New York Stock Exchange (NYSE) is open for trading.

Foreign equity securities are valued as of the close of trading on the stock exchange on which the security is primarily traded, or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. Eastern time on the day that the value of the security is determined. Generally foreign equity securities, as well as certain derivatives with equity reference obligations, are valued by applying international fair value factors provided by approved Pricing Services.

The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAVs are calculated. The fair valued securities are converted at the exchange rates available at 4 p.m. Eastern time.

Fixed income securities are valued based on prices received from Pricing Services. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, Pricing Services may consider a variety of inputs and factors, including, but not limited to proprietary models that may take into account market transactions in securities with comparable characteristics, yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, underlying collateral and estimated cash flows.

Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots.

Shares of exchange-traded funds (“ETFs”) are generally valued at the last sale price on the exchange on which the ETF is principally traded. Shares of open-end investment companies are valued at their respective NAVs.

Exchange-traded futures contracts and options are generally valued on the basis of available market quotations. Swaps, forward foreign currency exchange contracts and over the counter options are valued utilizing market quotations from approved Pricing Services.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Funds’ investments are summarized into the three broad levels listed below.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following tables represent each valuation input as presented on the Schedules of Portfolio Investments (“SOIs”) (amounts in thousands):

There were no significant transfers into or out of level 3 for the year ended December 31, 2023 for the Funds.

B. Restricted Securities — Certain securities held by the Funds may be subject to legal or contractual restrictions on resale. Restricted securities generally are resold in transactions exempt from registration under the Securities Act of 1933 (the “Securities Act”). Disposal of these securities may involve time-consuming negotiations and expense. Prompt sale at the current valuation may be difficult and could adversely affect the net asset value of the Funds.

C. When-Issued Securities, Delayed Delivery Securities and Forward Commitments — The Funds may purchase when-issued securities, including To Be Announced (“TBA”) securities, and enter into contracts to purchase or sell securities for a fixed price that may be settled a month or more after the trade date, or purchase delayed delivery securities which generally settle seven days after the trade date. When-issued securities are securities that have been authorized, but not issued in the market. A forward commitment involves entering into a contract to purchase or sell securities for a fixed price at a future date that may be settled a month or more after the trade date. A delayed delivery security is agreed upon in advance between the buyer and the seller of the security and is generally delivered beyond seven days of the agreed upon date. The purchase of securities on a when-issued, delayed delivery or forward commitment basis involves the risk that the value of the security to be purchased declines before the settlement date. The sale of securities on a forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. The Funds may be exposed to credit risk if the counterparty fails to perform under the terms of the transaction. Interest income for securities purchased on a when-issued, delayed delivery or forward commitment basis is not accrued until the settlement date.

D. Investments in Cayman Subsidiary - The Six Circles Credit Opportunities Fund may seek to purchase certain newly-issued Regulation S securities in its Asia High Yield allocation through investments in Six Circles Credit Opportunities Fund (Cayman) Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). Regulation S securities are securities of U.S. and non-U.S. issuers that are issued through private offerings without registration with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to Regulation S under the Securities Act of 1933, as amended (the “1933 Act”). As of December 31, 2023, the net assets of the Subsidiary were $5,167,417 representing 0.15% of the Six Circles Credit Opportunities Fund’s consolidated net assets.

E. Loan Assignments — The Six Circles Credit Opportunities Fund invests in debt instruments that are interests in amounts owed to lenders or lending syndicates (a “Lender”) by corporate, governmental or other borrowers (a “Borrower”). A loan is typically originated, negotiated and structured by a U.S. or foreign bank, insurance company or other financial institution (the “Agent”) for a group of loan investors (“Loan Investors”). The Agent administers the terms of the loan, as specified in the loan agreement. When a Fund purchases a loan assignment, the Fund has direct rights against the Borrower on a loan, provided, however, the Fund’s rights may be more limited than the lender from which it acquired the assignment and the Fund may be able to enforce its rights only through the Agent. As a result, the Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower (“Intermediate Participants”). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, the Fund may incur certain costs and delays in realizing

payment or may suffer a loss of principal and/or interest. The Adviser or Sub-Advisers may have access to material non-public information regarding the Borrower.

Certain loan assignments are also subject to the risks associated with high yield securities described under Note 5.

Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. The unrealized appreciation/depreciation from unfunded commitments is reported on the Statements of Assets and Liabilities, if any. As of December 31, 2023 the Six Circles Credit Opportunities Fund had no loan commitments outstanding.

F. Derivatives — The Funds used derivative instruments including options, futures contracts, forward foreign currency exchange contracts and swaps, in connection with their respective investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures as well as credit and spread volatility.

The Funds may be subject to various risks from the use of derivatives including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties’ failure to perform under contract terms; liquidity risk related to the lack of a liquid market for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Funds’ risk of loss associated with these instruments may exceed their value, as recorded on the Statements of Assets and Liabilities.

The Funds are party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (“ISDA agreements”). The Funds’ ISDA agreements, which are separately negotiated by the Sub-Advisers, with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Funds in the event the Funds’ net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Funds to exercise rights, to the extent not otherwise waived, against a counterparty (e.g., decline in a counterparty’s credit rating below a specified level). Such rights for both a counterparty and the Funds often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty, which could have an adverse effect on the Funds. The ISDA agreements give the Funds and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable with collateral posted to a segregated account by one party to the other.

Counterparty credit risk may be mitigated to the extent a counterparty posts collateral for mark-to-market gains to the Fund.

(1) Options — The Six Circles Global Bond Fund purchased and sold (“wrote”) put and call options on securities to manage and hedge interest rate risks within its portfolio and also to gain long or short exposure to the underlying instrument. A purchaser of a put option has the right, but not the obligation, to sell the underlying instrument at an agreed upon price (“strike price”) to the option seller. A purchaser of a call option has the right, but not the obligation, to purchase the underlying instrument at the strike price from the option seller.

Options Purchased — Premiums paid by the Funds for options purchased are included on the Statements of Assets and Liabilities as Options purchased. The option is adjusted daily to reflect the current market value of the option and the change is recorded as Change in net unrealized appreciation/depreciation on options purchased on the Statements of Operations. If the option is allowed to expire, the Funds will lose the entire premium they paid and record a realized loss for the premium amount. Premiums paid for options purchased which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain (loss) or cost basis of the underlying investment.

Options Written — Premiums received by the Funds for options written are included on the Statements of Assets and Liabilities as a liability. The amount of the liability is adjusted daily to reflect the current market value of the option written and the change in market value is recorded as Change in net unrealized appreciation/depreciation on options written on the Statements of Operations. Premiums received from options written that expire are treated as realized gains. If a written option is closed, the Funds record a realized gain or loss on options written based on whether the cost of the closing transaction exceeds the premium received. If a call option is exercised by the option buyer, the premium received by the Funds is added to the proceeds from the sale of the underlying security to the option buyer and compared to the cost of the closing transaction to determine whether there has been a realized gain or loss. If a put option is exercised by an option buyer, the premium received by the option seller reduces the cost basis of the purchased security.

Written uncovered call options subject the Funds to unlimited risk of loss. Written covered call options limit the upside potential of a security above the strike price. Written put options subject the Funds to risk of loss if the value of the security declines below the exercise price minus the put premium.

The Funds are not subject to credit risk on options written as the counterparty has already performed its obligation by paying the premium at the inception of the contract.

(2) Futures Contracts — The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund used interest rate futures to manage interest rate risks associated with portfolio investments. The Six Circles U.S. Unconstrained Equity Fund and Six Circles International Unconstrained Equity Fund used index futures to gain or reduce exposure to certain countries or regions, to maintain liquidity or minimize transaction costs.

deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Change in net unrealized appreciation/depreciation on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the SOIs and cash deposited is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities. Futures contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The use of futures contracts may expose the Funds to interest rate and equity price risks. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Fund to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Fund to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent the liquidation of positions.

The Funds’ futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

(3) Forward Foreign Currency Exchange Contracts — The Six Circles International Unconstrained Equity Fund, Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund may be exposed to foreign currency risks associated with some or all of the portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. The Funds also bought forward foreign currency exchange contracts to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. Dollars without the delivery of foreign currency. Forward contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The values of the forward foreign currency exchange contracts are adjusted daily based on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation/depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed. The Fund also records a realized gain or loss when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty upon settlement.

The Funds’ forward foreign currency exchange contracts may be subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions). The Funds may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.

(4) Swaps — The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, and the Six Circles Credit Opportunities Fund engaged in various swap transactions, including interest swaps, to manage interest rate (e.g., duration, yield curve) risks within their respective portfolios. The Funds also used swaps as alternatives to direct investments. Swap transactions are negotiated contracts over the counter (“OTC swaps”) between a fund and a counterparty or centrally cleared (“centrally cleared swaps”) with a central clearinghouse through a Futures Commission Merchant (“FCM”), to exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap contracts outstanding at period end, if any, are listed after each Fund’s SOI.

Upfront payments made and/or received are recorded as assets or liabilities, respectively on the Statements of Assets and Liabilities and amortized over the term of the swap. The value of an OTC swap agreement is recorded as either an asset or a liability on the Statements of Assets and Liabilities at the beginning of the measurement period.

Upon entering into a centrally cleared swap, the Funds are required to deposit with the FCM cash or securities, which is referred to as initial margin deposit. Securities deposited as initial margin are designated on the SOIs and cash deposited is recorded on the Statements of Assets and Liabilities. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a variation margin receivable or payable on the Statements of Assets and Liabilities. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as Change in net unrealized appreciation/depreciation on the Statements of Operations. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.

The central clearing house acts as the counterparty to each centrally cleared swap transaction, therefore credit risk is limited to the failure of the clearing house.

The Funds may be required to post or receive collateral in the form of cash or securities based on the net value of the Fund’s outstanding OTC swap contracts with the counterparty. Daily movement of collateral is subject to minimum threshold amounts. Collateral posted by the Funds is held in a segregated account at the Funds’ custodian bank. Collateral received by the Funds is held in escrow in segregated accounts maintained by Brown Brothers Harriman & Co.

The Funds’ swap contracts (excluding centrally cleared swaps) are subject to master netting arrangements.

Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund entered into credit default swaps to simulate long and short bond positions or to take an active long or short position with respect to the likelihood of a default or credit event by the issuer of the underlying reference obligation.

The underlying reference obligation may be a single issuer of corporate or sovereign debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.

Credit default swaps involve one party, the protection buyer, making a stream of payments to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.

If a credit event occurs, the Funds, as protection sellers, would be obligated to make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively adds leverage to a Fund’s portfolio up to the notional amount of swap agreements. The notional amount represents the maximum potential liability under a contract and is not reflected on the Statements of Assets and Liabilities. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations; upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with the identical reference obligation.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund entered into interest rate swap contracts to manage fund exposure to interest rates and/or to preserve or generate a return on a particular investment or portion of its portfolio. These are agreements between counterparties to exchange periodic payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified interest rate while the other is typically a fixed interest rate.

The following tables present the value of derivatives held as of December 31, 2023, by their primary underlying risk exposure and respective location on the Statements of Assets and Liabilities (amounts in thousands):

The following tables present the Funds’ gross derivative assets and liabilities by counterparty net of amounts available for offset under netting arrangements and any related collateral received or posted by the Fund as of December 31, 2023 (amounts in thousands):

The following tables present the effect of derivatives on the Statements of Operations for the year ended December 31, 2023, by primary underlying risk exposure (amounts in thousands):

The table below discloses the volume of the Funds’ options, futures contracts, forward foreign currency exchange contracts and swaps activity during the year ended December 31, 2023 (amounts in thousands, except number of contracts). Please refer to the tables in the Summary of Derivative Information for derivative-related gains and losses associated with volume activity (amounts in thousands).

G. Foreign Currency Translation — The books and records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the prevailing exchange rates of such currencies against the U.S. dollar. The market value of investment securities and other assets and liabilities are translated at the exchange rate as of the valuation date. Purchases and sales of investment securities, income and expenses are translated at the exchange rate prevailing on the respective dates of such transactions.

The Funds do not isolate the effect of changes in foreign exchange rates from changes in market prices on securities held. Accordingly, such changes are included within the Change in net unrealized appreciation/depreciation on investments on the Statements of Operations.

reported realized foreign currency gains and losses are included in Net realized gain (loss) on foreign currency transactions on the Statements of Operations. Unrealized foreign currency gains and losses arise from changes (due to changes in exchange rates) in the value of foreign currency and other assets and liabilities denominated in foreign currencies, which are held at period end and are included in Change in net unrealized appreciation/depreciation on foreign currency translations on the Statements of Operations.

H. Short Sales — The Funds may engage in short sales as part of their normal investment activities. In a short sale, the Funds sell securities they do not own in anticipation of a decline in the market value of those securities. In order to deliver securities to the purchaser, the Funds borrow securities from a broker. To close out a short position, the Funds deliver the same securities to the broker.

The Funds are required to pledge cash or securities to the broker as collateral for the securities sold short. Collateral requirements are calculated daily based on the current market value of the short positions. Cash collateral deposited with the custodian is recorded as Restricted cash on the Statements of Assets and Liabilities. Securities segregated as collateral are denoted on the SOIs. The Funds may receive or pay the net of the following amounts: (i) a portion of the income from the investment of cash collateral; (ii) the broker’s fee on the borrowed securities (calculated daily based upon the market value of each borrowed security and a variable rate that is dependent on availability of the security); and (iii) a financing charge for the difference between the market value of the short position and cash collateral deposited with the broker. The net income or fee is reported as Interest income or Interest expense, respectively, on securities sold short on the Statements of Operations. The Funds are obligated to pay the broker dividends declared on short positions when a position is open on the record date. Dividends on short positions are reported on ex-dividend date on the Statements of Operations as Dividend expense on securities sold short.

Liabilities for securities sold short are reported at market value on the Statements of Assets and Liabilities and the change in market value is recorded as Change in net unrealized appreciation (depreciation) on the Statements of Operations. Short sale transactions may result in unlimited losses as the security’s price increases and the short position loses value. There is no upward limit on the price a borrowed security could attain. The Funds are also subject to risk of loss if the broker were to fail to perform its obligations under the contractual terms. The Funds will record a realized loss if the price of the borrowed security increases between the date of the short sale and the date on which the Funds replace the borrowed security. The Funds will record a realized gain if the price of the borrowed security declines between those dates.

I. Security Transactions, Investment Income and Expense Allocation — Securities transactions are recorded on a trade date basis. Realized gain and loss from securities transactions are recorded on an identified cost basis for financial reporting and federal income tax purposes. Interest income is determined on the basis of coupon interest accrued using the effective interest method which adjusts for amortization of premiums and accretion of discounts. Dividend income, net of foreign taxes withheld, if any, is recorded on the ex-dividend date or when the Fund first learns of the dividend. Non-cash dividends, if any, are recorded on the ex-dividend date or corporate action date at fair value. Six Circles Credit Opportunities Fund may receive income from investments in loan assignments and/or unfunded commitments, including amendment fees, consent fees and commitment fees. These fees are recorded as income when received by the Fund. These amounts are included in Interest income on the Statements of Operations.

Distributions received from certain investments held by the Funds may be comprised of dividends, realized gains and returns of capital. The Funds originally estimate the expected classification of such payments. The amounts may subsequently be reclassified upon receipt of information from the issuer.

The Funds are charged for those expenses of the Trust that are directly attributable to each Fund. Expenses that are not directly attributable to a Fund are typically allocated among the Funds in proportion to their respective net assets.

J. Repurchase Agreements — The Funds may invest in repurchase agreements, which are short term investments whereby the Funds acquire ownership of a debt security and the seller agrees to repurchase the security at a future date at a specified price. When entering into repurchase agreements, it is the Funds’ policy that their custodian take possession of the underlying collateral securities, the market value of which, at all times, shall equal at least 100% of the principal amount of the repurchase transaction. The repurchase agreements further authorize the Funds to demand additional collateral in the event that the dollar value of the collateral falls below 100%. The Funds will make payments for such securities only upon physical delivery or upon evidence of book entry transfer to the account of the custodian.

Repurchase Agreements outstanding at period end, if any, are listed after each Fund’s SOI.

The Funds’ repurchase agreements are not subject to master netting arrangements.

K. Reverse Repurchase Agreements — In a reverse repurchase agreement, a Fund delivers a security in exchange for cash to a financial institution, the counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed upon price and date. In an open maturity reverse repurchase agreement, there is no pre-determined repurchase date and the agreement can be terminated by the Fund or counterparty at any time. A Fund is entitled to receive principal and interest payments, if any, made on the security delivered to the counterparty during the term of the agreement. Cash received in exchange for securities delivered plus accrued interest payments to be made by a Fund to counterparties are reflected as a liability on the Statements of Assets and Liabilities. Interest payments made by a Fund to counterparties are recorded as a component of interest expense on the Statements of Operations. A Fund will segregate assets determined to be liquid by the Adviser or will otherwise cover its obligations under reverse repurchase agreements.

Reverse repurchase agreements outstanding at period end, if any, are listed after each Fund’s SOI.

Six Circles Global Bond Fund had an average amount of borrowings outstanding during the year ended December 31, 2023 of $94,268,267 at a weighted average interest rate of 5.239%.

L. Federal Income Tax — Each Fund is treated as a separate taxable entity for Federal income tax purposes. Each Fund’s policy is to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to regulated investment companies. Each Fund intends to distribute to shareholders, substantially all of its distributable net investment income and net realized capital gains on investments. Accordingly, no provision for Federal income tax is necessary.

The Funds follow the provisions of FASB Codification Section 740 (“ASC Section 740”) “Accounting for Uncertainty in Income Taxes” which clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return. ASC Section 740 sets forth a threshold for financial statement recognition, measurement and disclosure of tax positions taken or expected to be taken on a tax return. The Funds are required to recognize the tax effects of certain tax positions under a “more likely than not” standard, that based on their technical merits, have more than 50 percent likelihood of being sustained upon examination. Management has analyzed the tax positions taken on the Funds’ federal income tax returns for all open years, and has concluded that no provision for federal income tax is required in the Funds’ financial statements. At December 31, 2023 the Funds did not have any uncertain tax benefits that require recognition, de-recognition or disclosure. The Funds’ federal, state and local income and federal excise tax returns for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

M. Foreign Tax — The Funds may be subject to foreign taxes on income, gains on investments or currency purchases/repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests. When capital gain tax is determined to apply, the Funds record an estimated deferred tax liability in an amount that would be payable if the securities were disposed of on the valuation date.

N. Distributions to Shareholders — Distributions to shareholders are recorded on the ex-dividend date. Distributions from net investment income and net realized capital gains are generally declared and paid according to the following schedule:

Income and capital gain distributions will be determined in accordance with federal income tax regulations which may differ from GAAP. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character.

Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes. These differences will reverse at some time in the future. Differences in classification may also result from the treatment of short- term gains as ordinary income for tax purposes. As a result, income dividends and capital gain distributions declared during a fiscal period may differ significantly from the net investment income (loss) and realized gain (loss) reported on the Fund financial statements presented under GAAP.

Distributions classified as a tax basis return of capital, if any, are reflected on the Statement of Changes in Net Assets and have been recorded to paid-in capital.

O. Sale-buyback Transactions — A sale-buyback financing transaction consists of a sale of a security by a Fund to a counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed-upon price and date. The Fund is not entitled to receive principal and interest payments, if any, made on the security sold to the counterparty during the term of the agreement. The agreed-upon proceeds for securities to be repurchased by the Fund are reflected in the payable for investments purchased on the Statements of Assets and Liabilities. The Fund will recognize net income represented by the price differential between the price received for the transferred security and the agreed-upon repurchase price. This is commonly referred to as the ‘price drop’. A price drop consists of (i) the foregone interest and inflationary income adjustments, if any, the Fund would have otherwise received had the security not been sold and (ii) the negotiated financing terms between the Fund and counterparty. In periods of increased demand for the security, the Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund. The Fund will segregate assets determined to be liquid by the Sub-adviser or will otherwise cover its obligations under sale-buyback transactions. Sale-buyback transactions are governed by Master Securities Forward Transaction Agreements (“Master Forward Agreements”), which are agreements between the Fund and select counterparties. The Master Forward Agreements maintain provisions for, among other things, transaction initiation and confirmation, payment and transfer, events of default, termination and maintenance of collateral. The market value of sale-buyback transactions as of period end, if any, is disclosed in the Fund’s Schedule of Investments.

Six Circles Global Bond Fund had an average amount of borrowings outstanding during the year ended December 31, 2023 of $152,263 at a weighted average interest rate of 0.055%.

A. Investment Advisory Fees — The Adviser serves as the Funds’ investment adviser pursuant to an investment advisory agreement (the “Investment Advisory Agreement”). Under the terms of the Investment Advisory Agreement, the Adviser generally manages the Funds’ investments in accordance with the stated policies of each Fund, subject to the supervision of the Funds’ Board of Trustees. For the services provided to the Funds, the Adviser is entitled to a fee, accrued daily and paid monthly, at the annual rate of 0.25% of the average daily net assets of each Fund except Six Circles Credit Opportunities Fund. The fee for the Six Circles Credit Opportunities Fund is 0.75% of the average daily net assets.

The Adviser selects and oversees professional money managers (the “Sub-Advisers”) who are responsible for investing the assets of the Funds under sub-advisory agreements (the “Sub-Advisory Agreements”). Pursuant to each respective Sub-Advisory Agreement, the Adviser agrees to pay each Sub-Adviser a sub-advisory fee from its investment advisory fees. BlackRock Investment Management, LLC (“BlackRock”), Royal Bank of Canada Global Asset Management (UK) (“RBC GAM (UK)”), Insight North America LLC (“Insight”), Capital International, Inc. (“Capital Group”), Goldman Sachs Asset Management, L.P. (“Goldman”), Muzinich & Co. (“Muzinich”), Nuveen Asset Management, LLC (“Nuveen”) , Pacific Investment Management Company LLC (“PIMCO”), PGIM, Inc. (“PGIM”), Allspring Global Investments, LLC (“Allspring”), and Lord Abbett & Co. LLC (“Lord Abbett”) currently serve as the Sub-Advisers to the Funds. The Sub-Advisers are paid a management fee by the Adviser pursuant to their individually negotiated Sub-Advisory Agreements.

On October 5, 2018, the Adviser entered into an agreement to allow Russell Investments Implementation Services, LLC (“Russell”) to provide stand-by interim sub-advisory services, as well as transition management services, for each Fund, to be utilized as needed in certain transitional circumstances involving a Fund Sub-Adviser. During the reporting period, the Funds have not allocated assets to Russell.

The Adviser waived Investment Advisory fees and/or reimbursed expenses as outlined in Note 3F and reflected on the Statement of Operations.

B. Administration and Accounting Fees — Pursuant to an Administrative Agency Agreement, Brown Brothers Harriman & Co. (the “Administrator”) provides certain administration and fund accounting services to the Funds.

C. Distribution Fees — Pursuant to a Distribution Agreement, Foreside Fund Services, LLC (the “Distributor”), will serve as the Funds’ principal underwriter and acts as the agent of the Funds in connection with the continuous offering of shares of each Fund. The Distributor and its officers have no role in determining the investment policies or which securities are to be purchased or sold by the Funds. The Distributor does not receive compensation from the Funds, but instead is compensated by the Adviser for certain distribution-related expenses.

D. Custodian — Pursuant to a Custodian Agreement, Brown Brothers Harriman & Co. serves as the custodian (the “Custodian”) for each of the Funds and is responsible for holding portfolio securities and cash and maintaining the books of account and records of portfolio transactions.

E. Transfer Agent — Pursuant to a Transfer Agency and Service Agreement, DST Asset Manager Solutions, Inc. (the “Transfer Agent”) serves as each Fund’s transfer and dividend disbursing agent. The Transfer Agent is responsible for maintaining account records, detailing the ownership of Fund shares and for crediting income, capital gains and other changes in share ownership to shareholder accounts.

F. Waivers and Reimbursements — The Adviser has contractually agreed through at least April 30, 2024, to waive any management fees that exceed the aggregate management fees the Adviser is contractually required to pay the Fund’s Sub-Advisers. Thereafter, this waiver will continue for subsequent one year terms unless terminated in accordance with its terms. Such waivers are not subject to reimbursement by the Fund. The Adviser has also contractually agreed through at least April 30, 2024, to reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, if any, dividend and interest expenses related to short sales, brokerage fees, interest on borrowings, taxes, expenses related to litigation and potential litigation, and extraordinary expenses) exceed the following percentages of the average daily net assets of each Fund (the “Expense Cap”):

An expense reimbursement by the Fund’s Adviser is subject to repayment by the Fund only to the extent it can be made within thirty-six months following the date of such reimbursement by the Adviser. Repayment must be limited to amounts that would not cause the Fund’s operating expenses (taking into account any reimbursements or waiver by the Adviser and repayments by the Fund) to exceed the Expense Cap in effect at the time of the reimbursement by the Adviser or at the time of repayment by the Fund. This expense reimbursement is in effect through April 30, 2024, at which time the Adviser and/or its affiliates will determine whether to renew or revise it.

For the year ended December 31, 2023 there were no amounts reimbursed by the Adviser, nor were there amounts available for potential future recoupment by the Adviser.

G. Cross Trades — The Funds may participate in purchase and sale transactions with other Six Circles Funds. These cross trades are executed in accordance with procedures adopted by the Trust’s Board and comply with Rule 17a-7 of the 1940 Act, which require, among other things, that such

cross trades be effected at the independent current market price of the security. During the year ended December 31, 2023 the aggregate value of purchases and sale cross trades with other Six Circles Funds were as follows (amounts in thousands):

During the year ended December 31, 2023 purchases and sales of investments (excluding short-term investments) were as follows (amounts in thousands):

In the normal course of business, the Funds enter into contracts that contain a variety of representations which provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown. The amount of exposure would depend on future claims that may be made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

Since Six Circles U.S. Unconstrained Equity Fund, Six Circles International Unconstrained Equity Fund, and Six Circles Global Bond Fund are non-diversified, they may invest a greater percentage of their assets in a particular issuer or group of issuers than a diversified fund would. This increased investment in fewer issuers may result in the Funds’ shares being more sensitive to economic results among those issuing the securities.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund, invest in foreign issuers and foreign securities (including depositary receipts) which are subject to additional risks, including political and economic risks, unstable governments, civil conflicts and war, greater volatility, decreased market liquidity, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. The securities markets of many foreign countries are relatively small, with a limited number of companies representing a small number of industries. If foreign securities are denominated and traded in a foreign currency, the value of the Fund’s foreign holdings can be affected by currency exchange rates and exchange control regulations. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Foreign market trading hours, clearance and settlement procedures, and holiday schedules may limit the Fund’s ability to buy and sell securities.

Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile. These risks are magnified in countries in “emerging markets.” Emerging market countries typically have less-established economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. Additionally, investors may have substantial difficulties bringing legal actions to enforce or protect investors’ rights, which can increase the risks of loss.

Certain emerging market countries may be subject to less stringent requirements regarding accounting, auditing, financial reporting and record keeping and therefore, material information related to an investment may not be available or reliable. In addition, the Fund is limited in its ability to exercise its legal rights or enforce a counterparty’s legal obligations in certain jurisdictions outside of the United States, in particular, in emerging markets countries.

The Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund invest a portion of their assets in the Asia Pacific region. The small size of securities markets and the low trading volume in some countries in the Asia Pacific Region may lead to a lack of liquidity. Also, some Asia Pacific economies and financial markets have been extremely volatile in recent years. Many of the countries in the region are developing, both politically and economically. They may have relatively unstable governments and economies based on only a few commodities or industries. The share prices of companies in the region tend to be volatile and there is a significant possibility of loss.

Also, some companies in the region may have less established product markets or a small management group and they may be more vulnerable to political or economic conditions, like nationalization. In addition, some countries have restricted the flow of money in and out of the country.

Certain of the currencies in the Asia Pacific region have experienced extreme volatility relative to the U.S. dollar. For example, Thailand, Indonesia, the Philippines and South Korea have had currency crises and have sought help from the International Monetary Fund. Holding securities in currencies that are devalued (or in companies whose revenues are substantially in currencies that are devalued) will likely decrease the value of the Fund.

The trading volume on some Asia Pacific region stock exchanges is much lower than in the United States, and Asia Pacific region securities of some companies are less liquid and more volatile than similar U.S. securities. In addition, brokerage commissions on regional stock exchanges are fixed and are generally higher than the negotiated commissions in the United States. The imposition of tariffs or other trade barriers, or a downturn in the economy of a significant trading partner could adversely impact Asia Pacific companies. If the Fund concentrates in the Asia Pacific region, the Fund’s performance may be more volatile than that of a fund that invests globally. If Asia Pacific securities fall out of favor, it may cause a fund that concentrates in the Asia Pacific region to underperform funds that do not concentrate in the Asia Pacific region.

The Six Circles International Unconstrained Equity Fund performance may be affected by political, social and economic conditions in Europe, such as growth of the economic output (the gross national product), the rate of inflation, the rate at which capital is reinvested into European economies, the success of governmental actions to reduce budget deficits, the resource self sufficiency of European countries and interest and monetary exchange rates between European countries. European financial markets may experience volatility due to concerns about high government debt levels, credit rating downgrades, rising unemployment, the future of the euro as a common currency, possible restructuring of government debt and other government measures responding to those concerns, and fiscal and monetary controls imposed on member countries of the European Union.

The Six Circles International Unconstrained Equity Fund and Six Circles Credit Opportunities Fund may have investments in Mainland China, Hong Kong and Taiwan that are subject to significant legal, regulatory, monetary and economic risks, as well as the potential for regional and global conflicts, including actions that are contrary to the interests of the U.S.

As of December 31, 2023, the Six Circles International Unconstrained Equity Fund had non-U.S. country allocations representing greater than 10% of Net Assets allocated as follows:

As of December 31, 2023, the Six Circles Global Bond Fund had non-U.S. country allocations representing greater than 10% of Net Assets allocated as follows:

As of December 31, 2023 a significant portion of the Six Circles International Unconstrained Equity and Six Circles Global Bond Funds’ net assets consisted of securities that were denominated in foreign currencies. Changes in currency exchange rates will affect the value of, and investment income from, such securities.

Overnight bank deposits of foreign currency can result in negative interest rates based on monetary policies in that respective country.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund are subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities, including securities backed by sub-prime mortgage loans. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund may be subject to leveraging risk, which is the risk that certain transactions of the Fund, such as loans of portfolio securities, and the use of when-issued, delayed delivery or forward commitment transactions, or derivative instruments, may give rise to leverage, magnifying gains and losses and causing the Fund to be more volatile than if it had not been leveraged.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund may invest in high yield securities that are not rated or rated below investment grade (commonly known as “junk bonds”). These securities are considered to be high risk investments. Investments in lower-rated securities or unrated securities of comparable quality tend to be more sensitive to economic conditions than higher rated securities. Junk bonds involve a greater risk of default by the issuer because such securities are generally unsecured and are often subordinated to other creditors’ claims. The market price of these securities can change suddenly and unexpectedly. As a result, the Funds are intended for investors who are able and willing to assume a high degree of risk.

The Six Circles Credit Opportunities Fund may invest a substantial portion of the Fund’s total assets in below investment grade credit instruments including “high-yield” instruments (also known as “junk bonds”) and “distressed” debt instruments. Any investments in distressed or defaulted securities subject the Fund to even greater credit risk than investments in other below investment-grade instruments. Investments in obligations of restructured, distressed and bankrupt issuers, including debt obligations that are already in default, generally trade significantly below par and may

lack liquidity. Defaulted securities might be repaid only after which the issuer might not make any interest or other payments, and such proceedings may result in only partial recovery of principal or no recovery at all. Recovery could involve an exchange of the defaulted obligation for other debt instruments or equity securities of the issuer or its affiliates, each of which may in turn be illiquid or speculative and be valued by the Fund at significantly less than its original purchase price. In addition, investments in distressed issuers may subject the Fund to liability as a lender.

The Funds are subject to the risk that, should the Funds decide to sell an illiquid investment when a ready buyer is not available at a price the Funds deem to be representative of its value, the value of the Funds’ net assets could be adversely affected.

The Six Circles Credit Opportunities Fund invests in loan assignments. Loan assignments are vulnerable to market conditions such that economic conditions or other events may reduce the demand for assignments and certain assignments which were liquid, when purchased, may become illiquid and they may be difficult to value. In addition, the settlement period for loans is uncertain as there is no standardized settlement schedule applicable to such investments. Therefore, a Fund may not receive the proceeds from a sale of such investments for a period after the sale. Certain loan assignments are also subject to the risks associated with high yield securities described above.

The value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics. For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate preexisting political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations. In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.

The Funds may also invest in shares of other investment companies and ETFs. ETFs are ownership interests in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks many of which are designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. Shareholders bear both their proportionate share of the Fund’s expenses and similar expenses of the underlying investment company or ETF when the Fund invests in shares of another investment company or ETF. The Fund is subject to the risks associated with the ETF’s or investment company’s investments. ETFs, investment companies and other investment vehicles that invest in commodities or currencies are subject to the risks associated with direct investments in commodities or currencies. The price and movement of an ETF or closed-end fund designed to track an index may not track the index and may result in a loss. In addition, closed-end funds that trade on an exchange often trade at a price below their net asset value (also known as a discount). Certain ETFs or closed-end funds traded on exchanges may be thinly-traded and experience large spreads between the “ask” price quoted by a seller and the “bid” price offered by a buyer.

Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions than other types of investments and could result in losses that significantly exceed each Fund’s original investment. Many derivatives create leverage thereby causing the Funds to be more volatile than they would have been if they had not used derivatives. Derivatives also expose the Funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty.

The Funds are also subject to counterparty credit risk, which is the risk that a counterparty fails to perform on agreements with the Funds such as swap and option contracts and forward foreign currency exchange contracts.

The Six Circles U.S. Unconstrained Equity Fund may invest in companies in the healthcare sector which may be subject to extensive government regulation and their profitability can be significantly affected by restrictions on government reimbursement for medical expenses, rising costs of medical products and services, pricing pressure (including price discounting), limited product lines and an increased emphasis on the delivery of healthcare through outpatient services. Companies in the healthcare sector are heavily dependent on obtaining and defending patents, which may be time consuming and costly, and the expiration of patents may also adversely affect the profitability of these companies. Healthcare companies are also subject to extensive litigation based on product liability and similar claims. In addition, their products can become obsolete due to industry innovation, changes in technologies or other market developments. Many new products in the healthcare sector require significant research and development and may be subject to regulatory approvals, all of which may be time consuming and costly with no guarantee that any product will come to market. Several legislative proposals concerning healthcare have been considered by the U.S. Congress in recent years and it is unclear what proposals will ultimately be enacted, if any, and what effect they may have on companies in the healthcare sector.

The Six Circles U.S. Unconstrained Equity Fund may invest in Technology companies which may face intense competition, both domestically and internationally, which may have an adverse effect on their profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies.

The Six Circles Ultra Short Duration Fund, Six Circles U.S. Unconstrained Equity Fund, Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund may invest more heavily in the financial services sector at various times to ensure access to a reasonably large pool of eligible instruments. To the extent that the Fund invests more heavily in the financial services sector, developments affecting the financial services sector may have a disproportionate impact on the Fund. These risks generally include interest rate risk, credit risk and risk associated with regulatory changes in the financial services industry. The profitability of banks and other financial services firms depends largely on the availability and cost of funds, which can change depending on economic conditions.

The Funds are subject to interest rate and credit risk. The value of debt securities may decline as interest rates increase. The Funds could lose money if the issuer of a fixed income security is unable to pay interest or repay principal when it is due. The Fund may invest in variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than fixed rate instruments, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Many factors can cause interest rates to rise. Some examples include central bank monetary policy, rising inflation rates and general economic conditions. The ability of the issuers of debt to meet their obligations may be affected by the economic and political developments in a specific industry or region.

The Six Circles Tax Aware Ultra Short Duration Fund and Six Circles Tax Aware Bond Fund invest primarily in a portfolio of debt obligations issued by states, territories and possessions of the United States and by the District of Columbia, and by their political subdivisions and duly constituted authorities. These debt obligations may be insured by private insurers who guarantee the payment of principal and interest in the event of issuer default. The value of these investments may be impacted by changes to bond insurers’ ratings and the Fund’s ability to collect principal and interest in the event of an issuer’s default may be limited if the private insurer does not have the wherewithal to satisfy its obligation.

London Interbank Offered Rate (“LIBOR”) is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. On March 5, 2021, the U.K. Financial Conduct Authority (“FCA”) publicly announced that (i) immediately after December 31, 2021, publication of the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; (ii) immediately after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently cease; and (iii) immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and that representativeness will not be restored. There is no assurance that the dates announced by the FCA will not change or that the administrator of LIBOR and/or regulators will not take further action that could impact the availability, composition or characteristics of LIBOR or the currencies and/or tenors for which LIBOR is published, and we recommend that you consult your advisors to stay informed of any such developments. In addition, certain regulated entities ceased entering into most new LIBOR contracts in connection with regulatory guidance or prohibitions. Public and private sector industry initiatives are currently underway to implement new or alternative reference rates to be used in place of LIBOR. There is no assurance that any such alternative reference rate will be similar to or produce the same value or economic equivalence as LIBOR or that it will have the same volume or liquidity as did LIBOR prior to its discontinuance, unavailability or replacement, all of which may affect the value, volatility, liquidity or return on certain of a Fund’s loans, notes, derivatives and other instruments or investments comprising some or all of the Fund’s investments and result in costs incurred in connection with changing reference rates used for positions, closing out positions and entering into new trades. Certain of the Fund’s investments may transition from LIBOR prior to the dates announced by the FCA. The transition from LIBOR to alternative reference rates may result in operational issues for the Fund or its investments. No assurances can be given as to the impact of the LIBOR transition (and the timing of any such impact) on the Fund and its investments. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor) and a wide range of other index levels, rates and values that are treated as “benchmarks” and are the subject of recent regulatory reform.

The Six Circles Credit Opportunities Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. There can be no assurance that the investment objective of the Six Circles Credit Opportunities Fund or the Subsidiary will be achieved. The Subsidiary is not registered under the Investment Company Act, and is not subject to all the investor protections of the Investment Company Act.

GAAP requires that certain components of net assets be reclassified between financial and tax reporting. Temporary differences to no require reclassification. Temporary differences and permanent reclassifications have no effect on net assets. For the fiscal year ended December 31, 2023, the Funds made permanent book-to-tax reclassifications primarily related to investments in swap contracts, mark-to-market of forward foreign currency contracts, mark-to-market of futures contracts, real estate investment trusts (“REITs”), straddle loss deferrals, wash sale loss deferrals, contingent debt obligation investments, debt to equity perpetual bond investments, mark-to-market investments in passive foreign investment companies (“PFICs”) and net operating losses.

For the fiscal year ended December 31, 2023, the Funds made the following reclassifications between total distributable earnings and paid-in capital (amounts in thousands):

For Federal income tax purposes, the estimated cost and unrealized appreciation (depreciation) in value of investments held at December 31, 2023 were as follows (amounts in thousands):

The difference between book and tax basis appreciation (depreciation) on investments is primarily attributed to investments in swap contracts, mark-to-market of forward foreign currency contracts, mark-to-market of futures contracts, real estate investment trusts (“REITs”), straddle loss deferrals, wash sale loss deferrals, contingent debt obligation investments, debt to equity perpetual bond investments and mark-to-market investments in passive foreign investment companies (“PFICs”).

The tax character of distributions paid during the year ended December 31, 2023 was as follows (amounts in thousands):

The tax character of distributions paid during the year ended December 31, 2022 was as follows (amounts in thousands):

As of December 31, 2023, the estimated components of net assets (excluding paid-in-capital) on a tax basis were as follows (amounts in thousands):

For the Funds, the cumulative timing differences primarily consist of capital loss carryforwards, mark-to-market futures contracts, REITS, straddle loss deferrals, contingent debt obligation investments, debt to equity perpetual bond investments and, mark-to-market investments in passive foreign investment companies (“PFICs”) and wash sale loss deferrals.

As of December 31, 2023, the following Funds had the following post-enactment net capital loss carryforwards (amounts in thousands):

During the year ended December 31, 2023, the following Funds utilized capital loss carryforwards as follows (amounts in thousands):

Specified ordinary losses incurred after October 31 within the taxable year are deemed to arise on the first business day of the Funds’ next taxable year. For the year ended December 31, 2023, the Funds deferred to January 1, 2024 the following specified ordinary losses (amounts in thousands):

As of December 31, 2023, the Funds each had one affiliated omnibus account for the benefit of its clients which owned approximately 99% of its outstanding shares.

In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820) - Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in the ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, should not be considered in measuring fair value. The ASU is effective for interim and annual reporting periods beginning after December 15, 2023, with the option of early adoption. Management is currently evaluating the impact, if any, of applying this ASU.

In March 2020, the FASB issued Accounting Standard Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” This ASU provides optional exceptions for applying GAAP to contract modifications, hedging relationships and other transactions affected reference rate reform if certain criteria are met. ASU 2020-04 is elective and is effective on March 12, 2020 through December 31, 2024. Management expects that the adoption of this guidance will not have a material impact on the Funds’ financial statements.

Effective January 24, 2023, the Securities and Exchange Commission (“Commission”) has adpoted rule and form amendments that require open-end management investment companies to transmit concise and visually engaging annual and semi-annual reports to shareholders that highlight key information that is particularly important to assess and monitor their fund investments. These final rules are designed to modernize funds’ shareholder reports so these reports will better serve the needs of fund investors.

The Funds have evaluated subsequent events through the date of issuance of this report and have determined that there are no material events that require disclosure.

To the Board of Trustees of Six Circles Trust and Shareholders of Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles U.S. Unconstrained Equity Fund, Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund

We have audited the accompanying statements of assets and liabilities, including the schedules of portfolio investments, of each of the funds listed in the table below (constituting Six Circles Trust, hereafter collectively referred to as the “Funds”) as of December 31, 2023, the related statements of operations for the year ended December 31, 2023, the statement of changes in net assets for each of the two years in the period ended December 31, 2023, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of December 31, 2023, the results of each of their operations for the year ended December 31, 2023, the changes in each of their net assets for each of the two years in the period ended December 31, 2023, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2023 by correspondence with the custodian, transfer agent, agent banks and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

We have served as the auditor of one or more investment companies in the Six Circles Trust complex since 2018.

As a shareholder of the Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemption fees and (2) ongoing costs, including investment advisory fees, administration fees, distribution fees and other Fund expenses. The examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these ongoing costs with the ongoing costs of investing in other mutual funds. The examples assume that you had a $1,000 investment in each fund on July 1, 2023 and continued to hold your shares at the end of the reporting period, December 31, 2023

Actual Expenses

For each Fund in the table below, the first line provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line in the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales charges (loads) or redemption fees. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher. The examples also assume all dividends and distributions have been reinvested.

The following information is provided with respect to the distributions paid during the taxable year ended December 31, 2023:

The law varies in each state as to whether and what percentage of dividend income attributable to Federal obligations is exempt from state income tax. We recommend that you consult with your tax adviser to determine if any portion of the dividends you received is exempt from state income taxes.

The foreign taxes paid represent taxes incurred by the Fund on income received by the Fund from foreign sources. Foreign taxes paid may be included in taxable income with an offsetting deduction from gross income or may be taken as a credit for taxes paid to foreign governments. You should consult your tax adviser regarding the appropriate treatment of foreign taxes paid.

The names of the Trustees of the Trust, together with information regarding their year of birth, the year each Trustee first became a Board member of the Trust, principal occupations and other board memberships, including those in any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”) or subject to the requirements of Section 15(d) of the Securities Exchange Act or any company registered as an investment company under the 1940 Act, are shown below. The contact address for each of the Trustees is 383 Madison Avenue, New York, NY 10179. The Funds’ Statement of Additional Information includes additional information about the Trustees, and is available, without charge, by calling collect at 1-212-464-2070, or on the Six Circles Funds’ website at www.sixcirclesfunds.com.

The Trust’s executive officers (listed below) generally are employees of the Adviser or one of its affiliates. The officers conduct and supervise the business operations of the Trust. The officers hold office until a successor has been elected and duly qualified. The Trust has no employees. The names of the officers of the Funds, together with their year of birth, information regarding their positions held with the Trust and principal occupations are shown below. The contact address for each of the officers, unless otherwise noted, is 383 Madison Avenue, New York, NY 10179.

For more complete information about the Funds, including the Funds’ objectives, risks, charges and expenses, call your J.P. Morgan team or call 1-212-464-2070 or go to www.sixcirclesfunds.com for a prospectus. Read the prospectus carefully. An investment in these Funds and any other Fund is not designed to be a complete investment program. The Funds are NOT designed to be used as stand-alone investments. J.P. Morgan is committed to making our products and services accessible to meet the financial services needs of all our clients. If you are a person with a disability and need additional support accessing this material, please contact your J.P. Morgan team or email us at accessibility.support@jpmorgan.com for assistance.

The Six Circles Funds are distributed by Foreside Fund Services, LLC a member of FINRA.

Contact Six Circles Funds collect at 1-212-464-2070 for a fund prospectus. You can also visit us at www.sixcirclesfunds.com. Investors should carefully consider the investment objectives and risk as well as charges and expenses of the Six Circles Funds before investing. The prospectus contains this and other information about the Six Circles Funds. Read the prospectus carefully before investing.

The Six Circles Funds file complete schedules of their fund holdings for the first and third quarters of their fiscal year with the SEC on Form N-PORT. The Six Circles Funds’ Forms N-PORT are available on the SEC’s website at http://www.sec.gov. Each Fund’s quarterly holdings can be found by visiting the Six Circles Funds’ website at www.sixcirclesfunds.com/literature.

A description of the Six Circles Funds’ policies and procedures with respect to the disclosure of the Six Circles Funds’ holdings is available in the prospectuses and Statements of Additional Information.

A copy of proxy policies and procedures is available without charge upon request by calling collect 1-212-464-2070 or on the Six Circles Funds’ website at www.sixcirclesfunds.com. A description of such policies and procedures is in the Statement of Additional Information available on the SEC’s website at www.sec.gov. The Trustees have delegated the authority to vote proxies for securities owned by the Funds to the Adviser, and the Adviser in turn has delegated such authority to the Sub-Advisers. A copy of the Six Circles Funds’ voting record for the most recent 12-month period ended June 30 is available on the SEC’s website at www.sec.gov or at the Six Circles Funds’ website at www.sixcirclesfunds.com no later than August 31 of each year. The Six Circles Funds’ proxy voting record will include, among other things, a brief description of the matter voted on for each fund security, and will state how each vote was cast, for example, for or against the proposal.

Dear Shareholder,

We hope this letter finds you well.

In 2023, volatility in the financial markets dissipated as equity markets posted solid broad-based returns and indicators pointed to falling inflation rates. As the year ended, attention turned once more to the Federal Reserve as it signaled rate cuts to come in 2024.

The Six Circles Funds are designed to help our discretionary portfolios navigate through changing markets by giving us the flexibility to target key themes and our highest conviction ideas. On the following pages, we provide detailed discussions on the strategies we implemented in the Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and the Six Circles Managed Equity Portfolio International Unconstrained Fund during the 12-month period covered by this report and how they performed.

As a reminder, the Six Circles Funds are not meant to be standalone investments. They are purposefully constructed as completion funds and, as such, we believe they should be reviewed and evaluated within the context of your broader portfolio for a complete picture of their performance.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests at least 80% of its net assets in equity securities issued by U.S. companies and other instruments with economic characteristics similar to equity securities issued by U.S. companies. The Fund is generally unconstrained by any particular capitalization, style or industry sector.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. In addition to allocating and reallocating the Fund’s assets among one or more indexed investment strategies, the Adviser may also select securities of specific individual companies for the Fund to purchase or sell on an ongoing basis and the amount of the Fund’s assets to allocate to such securities. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary Managed Equity Portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the broader Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2023 through December 31, 2023 (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed relative to the MSCI USA Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Information Technology, Health Care and Energy sectors comprised approximately 54% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector overweights relative to the Index. During the reporting period, Information Technology contributed to the Fund’s performance on an absolute basis and relative to the Index, while Health Care and Energy detracted from the Fund’s performance both on an absolute basis as well as relative to the Index.

Financials, Materials and Consumer Staples sectors comprised approximately 14% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector underweights relative to the Index. During the reporting period, Financials and Materials contributed to the Fund’s performance on an absolute basis, whereas Consumer Staples detracted. Relative to the Index, Materials and Consumer Staples contributed to the Fund’s performance, while Financials detracted.

On an absolute basis, the Fund’s allocation to Broad USA was the largest contributor to the Fund’s performance, while allocation to U.S. Managed Health Care detracted, during the reporting period.

The Fund employed equity futures in order to maintain market exposures during the reporting period. The use of equity futures contributed to the Fund’s performance during the year.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to twenty strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
USA	34	%
U.S. Custom Equity Sleeve (JPMPI)	20
U.S. Information Technology	6
U.S. Software	5
U.S. Pharmaceuticals	5
U.S. Technology, Hardware & Equipment	4
U.S. Semiconductor & Semiconductor Equipment	4
USA Energy	3
U.S. Consumer Discretionary	3
U.S. Communication Services	3
US Interactive Media & Services	2
U.S. Utilities	2
U.S. Electronic Equipment	2
U.S. Biotechnology	1
Canada	1
U.S. Beverages	1
U.S. Managed Health Care	1
Life Sciences Tools & Services	1
U.S. Financials	1
U.S. Health Care Equipment	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Allocation to Broad USA, which was approximately 34% of the Fund as of December 31, 2023, provides what the Adviser believes to be an ability to tactically allocate to broad U.S. large cap exposure and use as a potential funding source for future targeted allocations.

Allocation to the Custom Equity Sleeve was approximately 20% of the Fund as of December 31, 2023. This portion of the Fund’s investments is allocated to individual publicly traded large capitalization U.S. equity securities, selected by the Adviser. Securities included in the U.S. Custom Equity Sleeve may be represented by a variety of U.S. sectors, sub-sectors or industries and are selected for inclusion by the Adviser based on its investment analysis in order to assist with either portfolio

construction, risk management, liquidity considerations, or a combination thereof.

Allocations to U.S. Software provide what the Adviser believes is a multi-year opportunity for the leaders in this space to take advantage of businesses shifting workloads onto Cloud platforms. This exposure comprised approximately 5% of the Fund as of December 31, 2023.

Allocations to U.S. Pharmaceuticals and U.S. Biotechnology comprised approximately 6% of the Fund as of December 31, 2023. The Adviser believes that pharmaceutical companies have strong fundamentals with attractive valuations in the current market. The Biotechnology sector focuses on companies primarily engaged in the research, development, manufacturing and / or marketing of products based on genetic analysis and genetic engineering.

Allocation to U.S. Information Technology, which allows the Adviser to access specific exposures within the Technology sector, was approximately 6% of the Fund as of December 31, 2023.

Allocation to U.S. Technology, Hardware & Equipment allows the Adviser to access specific exposures within the Technology sector. The allocation comprised approximately 4% of the Fund as of December 31, 2023.

Allocation to U.S. Communications Services allows the Adviser to gain specific exposures within the mega cap Technology sectors. The allocation was approximately 3% of the Fund as of December 31, 2023.

Allocation to U.S. Interactive Media & Services focuses on companies engaged in content and information creation or distribution through proprietary platforms, where revenues are derived primarily through pay-per-click advertisements. This allocation was approximately 2% of the Fund as of December 31, 2023. The Adviser believes in the opportunities available in the cloud market and views this exposure as potential for continued strength in earnings growth.

The Adviser believes that allocation to USA Energy serves as a cyclical exposure that may do well as rates rise. This allocation was approximately 3% of the Fund as of December 31, 2023.

Allocation to U.S. Consumer Discretionary comprised approximately 3% of the Fund as of December 31, 2023. The Adviser believes that due to growth sell-off through most of 2022, valuations in Consumer Discretionary now present an attractive entry point for the sector.

The Adviser believes that valuations for U.S. Semiconductors & Semiconductor Equipment companies are now more

reasonable and provide an attractive entry point. This allocation comprised approximately 4% of the Fund as of December 31, 2023.

The Adviser believes that allocation to the U.S. Electronic Equipment is attractive given its position within the broader Information Technology sector and structural change over the past decade. This allocation comprised approximately 2% of the Fund as of December 31, 2023.

The Adviser believes that U.S. Utilities have cheapened versus the market with no change to the underlying fundamentals (higher leverage, negative free-cash-flow coverage), making the sector incrementally more attractive as a defensive diversifier in the Portfolio. This allocation to U.S. Utilities was approximately 2% of the Fund’s exposure as of December 31, 2023.

Allocation to U.S. Beverages was approximately 1% of the Fund’s exposure as of December 31, 2023, and reflects the Adviser’s current belief that certain companies in this sector are going through structural changes and may have the potential to improve free cash flow conversion.

Allocation to U.S. Financials comprised approximately 1% of the Fund as of December 31, 2023. The Adviser believes in capital adequacy and dividend sustainability in the sector and has conviction in the sector given compelling valuations and more realistic market expectations about potential credit costs and buybacks.

Allocation to Canada comprised approximately 1% of the Fund, as of December 31, 2023. The Adviser believes that the allocation provides for the diversification of the regional exposures in the broader Portfolios.

Allocation to U.S. Managed Health Care comprised approximately 1% of the Fund, as of December 31, 2023. The Adviser believes this is a high conviction segment of the Health Care sector which provides a more defensive posture within the Portfolio’s U.S. equity allocation.

Allocation to U.S. Health Care Equipment comprised approximately 1% of the Fund, as of December 31, 2023. The Adviser views this as an opportunity to access specific exposures within the Health Care sector.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year			Since Inception (April 10, 2019)
Six Circles Managed Equity Portfolio U.S. Unconstrained Fund		29.09	%		14.34	%

GROWTH OF $10,000 REPORT (04/10/2019 to 12/31/2023)

LOGO

¹⁾

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.28% and 0.07% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on April 10, 2019.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and the MSCI USA Index from April 10, 2019 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The MSCI USA Index is designed to measure the performance of the large and mid-cap segments of the U.S. market. With 609 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in the United States. Investors cannot invest directly in an index.

cast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Managed Equity Portfolio International Unconstrained Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests at least 80% of its net assets in equity securities and other instruments with economic characteristics similar to equity securities. The Fund primarily invests in the equity securities of non-U.S. companies and is generally unconstrained by any particular capitalization, style or sector or non-U.S. country.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary Managed Equity Portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2023 through December 31, 2023 (the “reporting period”), the Fund posted a positive return on an absolute basis, and outperformed the MSCI World ex-USA Index (the “Index”) on a relative basis. References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index and is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Consumer Staples, Information Technology, and Materials sectors comprised approximately 38% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector overweights relative to the Index. All three sectors contributed to the Fund’s performance on an absolute basis. Relative to the Index, Information Technology contributed to the Fund’s performance, while Consumer Staples and Materials detracted from the Fund’s performance.

Consumer Discretionary, Communication Services, and Industrials comprised approximately 19% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector underweights relative to the Index. All three sectors contributed to the Fund’s performance on an absolute basis. Relative to the Index, Consumer Discretionary and Industrials contributed to the Fund’s performance, while Communication Services detracted.

On an allocation level, the Fund’s allocation to Europe Financials was the largest contributor to the Fund’s return, while the allocation to Europe Beverages was the largest detractor from the Fund’s return on an absolute basis during the reporting period.

The Fund employed equity futures in order to maintain market exposures during the reporting period. The use of equity futures contributed to the Fund’s performance during the year.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to twenty strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
Europe Financials	14	%
Europe Industrials	11
Europe Pharmaceuticals	9
Japan	9
Europe Semiconductors	7
Europe Materials	7
Europe Beverages	6
Europe Food Products	5
Pacific ex- Japan	5
Europe Integrated Oil & Gas	4
German Application Software	4
Europe Textiles Luxury Goods	3
Europe Insurance	3
Europe	3
Europe ex-UK Utilities	3
Denmark Pharmaceuticals Biotechnology & Life Sciences	2
Taiwan Semiconductor & Semiconductor Equipment	2
Canada	1
European Metals & Mining	1
Swiss Food Products	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of December 31, 2023. The portfolio allocation is subject to change.

Allocation to Europe Financials was approximately 14% of the Fund as of December 31, 2023. The Adviser has conviction in the sector due to improved capital levels, and believes Financials can directly benefit from higher inflation and interest rates through higher lending costs and better net interest margin.

Allocation to Europe Pharmaceuticals comprised approximately 9% of the Fund as of December 31, 2023, and provides what the Adviser believes to be a defensive exposure with attractive fundamentals and valuations, within the context of the broader Portfolios.

The Adviser believes that companies in the Europe Textiles Luxury Goods sector are high quality consumer-oriented companies within the Consumer Discretionary sector and provide for the cyclical exposure in Europe expected to perform well as the global economy continues to recover. This allocation comprised approximately 3% of the Fund as of December 31, 2023.

Allocation to Europe Industrials was approximately 11% of the Fund as of December 31, 2023, and provides an exposure that the Adviser believes may benefit from economic growth and recovery.

Broad European Equities sector has exposure to companies with secular tailwinds and a large concentration in semiconductors. This allocation comprised approximately 3% of the Fund as of December 31, 2023.

Allocation to Europe Food Products was approximately 5% of the Fund as of December 31, 2023, and serves as a defensive position, allowing the Adviser access to a concentrated index of high-quality European companies.

Allocation to Europe Integrated Oil & Gas provides exposure to a cyclical industry that the Adviser believes will take advantage of the early cycle environment and comprised approximately 4% of the Fund as of December 31, 2023.

Allocation to Pacific ex-Japan and Canada comprised approximately 5% and 1% of the Fund, respectively, as of December 31, 2023. The Adviser believes that the allocations provide for the diversification of the regional exposures in the broader Portfolios.

The Adviser believes that the allocation to Broad Japan provides exposure to high quality Japanese companies with evolving business models. The allocation was approximately 9% of the Fund as of December 31, 2023.

Allocation to German Application Software was approximately 4% of the Fund as of December 31, 2023. German Investable Markets Index is primarily made up of SAP, a company the Adviser believes the market is currently underappreciating given its cloud transition, value of defensive cashflows, and positive business model changes.

Allocation to European Metals and Mining provides what the Adviser believes is a cyclical exposure to companies with strong balance sheets. The allocation was approximately 1% of the Fund as of December 31, 2023.

The Adviser believes that the allocation to Europe ex-UK Utilities serves as a defensive position with exposure to renewable energy, which helps diversify against European Energy positions and provides a growth dynamic to the sector. This allocation was approximately 3% of the Fund as of December 31, 2023.

Allocation to Swiss Food Products was approximately 1% of the Fund as of December 31, 2023, and serves as a defensive position, allowing the Adviser access to a concentrated index of high-quality Swiss companies.

European Beverage companies struggled in 2022, however, the Adviser believes that allocation to Europe Beverages could perform well as the China reopening provides strong headwinds to the demand. This allocation comprised approximately 6% of the Fund as of December 31, 2023.

Allocation to Europe Materials was approximately 7% of the Fund’s exposure as of December 31, 2023. The Adviser believes that the sector is currently undervalued due to poor operating environments, and views this exposure as potential for continued strength in earnings growth.

The Adviser believes that European Insurance is currently operating in a favorable environment given current interest rates and continued strength in the operating environment, where demand is greater than supply. Allocation to European Insurance was approximately 3% of the Fund’s exposure as of December 31, 2023.

Allocation to Denmark Pharmaceuticals Biotechnology & Life Sciences was approximately 2% of the Fund’s exposure as of December 31, 2023. The Adviser believes that the opportunity that exists in this space is currently undervalued by the market, currently believes that the growth potential in the GLP-1 industry could be significant over the next 10 years.


AVERAGE ANNUAL TOTAL RETURNS AS OF DECEMBER 31, 2023
	1 Year		Since Inception (April 10, 2019)
Six Circles Managed Equity Portfolio International Unconstrained Fund		20.05%		7.93%

GROWTH OF $10,000 REPORT (04/10/2019 to 12/31/2023)

LOGO

¹⁾

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.34% and 0.14% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on April 10, 2019.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Managed Equity Portfolio International Unconstrained Fund and the MSCI World ex-USA Index from April 10, 2019 to December 31, 2023. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI World ex-USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The MSCI World ex-USA Index captures large and mid-cap representation across 22 of 23 Developed Markets (DM) countries—excluding the United States. With 871 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. Investors cannot invest directly in an index.

The MSCI Emerging Markets Index captures large and mid cap representation across 24 Emerging Markets (EM) countries. With 1,441 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a

component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — 99.2%
Basic Materials — 0.9%
Chemicals — 0.6%
Air Products & Chemicals, Inc.		19		5,088
Albemarle Corp.		12		1,712
Celanese Corp., Class A		9		1,427
CF Industries Holdings, Inc.		20		1,591
Dow, Inc.		61		3,369
DuPont de Nemours, Inc.		39		3,018
Eastman Chemical Co.		12		1,107
Ecolab, Inc.		23		4,483
FMC Corp.		14		855
International Flavors & Fragrances, Inc.		23		1,840
Linde plc		41		16,650
LyondellBasell Industries NV, Class A		23		2,172
Mosaic Co. (The)		34		1,209
Nutrien Ltd., (Canada)		36		2,036
PPG Industries, Inc.		20		3,003
RPM International, Inc.		10		1,147
Sherwin-Williams Co. (The)		21		6,526
Westlake Corp.		5		669


				57,902

Forest Products & Paper — 0.0% (g)
International Paper Co.		30		1,074


Iron/Steel — 0.1%
Cleveland-Cliffs, Inc. (a)		49		1,003
Nucor Corp.		22		3,823
Reliance Steel & Aluminum Co.		4		1,182
Steel Dynamics, Inc.		14		1,628


				7,636

Mining — 0.2%
Agnico Eagle Mines Ltd., (Canada)		36		1,983
Barrick Gold Corp., (Canada)		128		2,318
Cameco Corp., (Canada)		32		1,365
First Quantum Minerals Ltd., (Canada)		43		356
Franco-Nevada Corp., (Canada)		14		1,554
Freeport-McMoRan, Inc.		110		4,681
Ivanhoe Mines Ltd., (Canada), Class A (a)		44		429
Kinross Gold Corp., (Canada)		89		541
Lundin Mining Corp., (Canada)		48		389
Newmont Corp.		90		3,735
Pan American Silver Corp., (Canada)		26		431
Wheaton Precious Metals Corp., (Canada)		33		1,633


				19,415

Total Basic Materials				86,027

Communications — 17.6%
Advertising — 0.1%
Interpublic Group of Cos., Inc. (The)		68		2,220
Omnicom Group, Inc.		35		3,009
Trade Desk, Inc. (The), Class A (a)		75		5,366


				10,595


SECURITY DESCRIPTION	SHARES		VALUE ($)

Internet — 15.1%
Airbnb, Inc., Class A (a)		98		13,354
Alphabet, Inc., Class A (a)		1,576		220,087
Alphabet, Inc., Class C (a)		1,392		196,104
Amazon.com, Inc. (a)		3,326		505,327
Booking Holdings, Inc. (a)		5		18,953
CDW Corp.		110		24,968
DoorDash, Inc., Class A (a)		37		3,616
eBay, Inc.		74		3,211
Etsy, Inc. (a)		18		1,481
Expedia Group, Inc. (a)		22		3,290
F5, Inc. (a)		13		2,275
Gen Digital, Inc.		147		3,357
GoDaddy, Inc., Class A (a)		20		2,081
Match Group, Inc. (a)		63		2,305
MercadoLibre, Inc., (Uruguay) (a)		7		10,253
Meta Platforms, Inc., Class A (a)		898		317,954
Netflix, Inc. (a)		73		35,307
Okta, Inc., Class A (a)		22		2,009
Palo Alto Networks, Inc. (a)		77		22,767
Pinterest, Inc., Class A (a)		145		5,371
Robinhood Markets, Inc., Class A (a)		47		597
Roku, Inc., Class A (a)		23		2,102
Shopify, Inc., (Canada), Class A (a)		88		6,845
Snap, Inc., Class A (a)		257		4,356
Uber Technologies, Inc. (a)		2,141		131,807
VeriSign, Inc. (a)		11		2,337
Zillow Group, Inc., Class C (a)		17		961


				1,543,075

Media — 0.8%
Charter Communications, Inc., Class A (a)		15		5,967
Comcast Corp., Class A		664		29,124
FactSet Research Systems, Inc.		4		2,017
Fox Corp., Class A		45		1,328
Fox Corp., Class B		31		844
Liberty Broadband Corp., Class C (a)		20		1,608
Liberty Global Ltd., (Bermuda), Class C (a)		37		693
Liberty Media Corp-Liberty Formula One, Class C (a)		36		2,247
Liberty Media Corp-Liberty SiriusXM (a)		34		982
News Corp., Class A		75		1,847
Paramount Global, Class B		93		1,382
Quebecor, Inc., (Canada), Class B		11		270
Sirius XM Holdings, Inc.		153		836
Thomson Reuters Corp., (Canada)		12		1,702
Walt Disney Co. (The)		302		27,294
Warner Bros Discovery, Inc. (a)		389		4,428


				82,569

Telecommunications — 1.6%
Arista Networks, Inc. (a)		61		14,424
AT&T, Inc.		1,179		19,789
BCE, Inc., (Canada)		5		213
Cisco Systems, Inc.		968		48,913


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Telecommunications — continued
Corning, Inc.		673		20,483
Juniper Networks, Inc.		83		2,452
Motorola Solutions, Inc.		39		12,170
Rogers Communications, Inc., (Canada), Class B		26		1,214
TELUS Corp., (Canada)		35		623
T-Mobile US, Inc.		85		13,591
Verizon Communications, Inc.		695		26,201


				160,073

Total Communications				1,796,312

Consumer Cyclical — 5.0%
Airlines — 0.0% (g)
Air Canada, (Canada) (a)		13		182
Delta Air Lines, Inc.		18		734
Southwest Airlines Co.		24		697


				1,613

Apparel — 0.2%
Deckers Outdoor Corp. (a)		4		2,482
Gildan Activewear, Inc., (Canada), Class A		13		421
NIKE, Inc., Class B		183		19,814
VF Corp.		67		1,257


				23,974

Auto Manufacturers — 1.3%
Cummins, Inc.		12		2,901
Ford Motor Co.		592		7,212
General Motors Co.		209		7,494
Lucid Group, Inc. (a)		68		287
PACCAR, Inc.		44		4,327
Rivian Automotive, Inc., Class A (a)		97		2,286
Tesla, Inc. (a)		469		116,650


				141,157

Auto Parts & Equipment — 0.1%
Aptiv plc, (Ireland) (a)		45		4,061
BorgWarner, Inc.		41		1,454
Lear Corp.		11		1,498
Magna International, Inc., (Canada)		20		1,174


				8,187

Distribution/Wholesale — 0.2%
Copart, Inc. (a)		65		3,185
Fastenal Co.		50		3,242
Ferguson plc, (United Kingdom)		18		3,409
LKQ Corp.		37		1,752
Pool Corp.		5		2,132
Toromont Industries Ltd., (Canada)		6		524
Watsco, Inc.		3		1,373
WW Grainger, Inc.		4		3,348


				18,965


SECURITY DESCRIPTION	SHARES		VALUE ($)

Entertainment — 0.1%
Caesars Entertainment, Inc. (a)		29		1,359
DraftKings, Inc., Class A (a)		58		2,057
Live Nation Entertainment, Inc. (a)		27		2,563
Vail Resorts, Inc.		7		1,424


				7,403

Home Builders — 0.2%
DR Horton, Inc.		43		6,589
Lennar Corp., Class A		35		5,289
NVR, Inc. (a)		— (h)		3,171
PulteGroup, Inc.		31		3,185


				18,234

Leisure Time — 0.1%
BRP, Inc., (Canada)		3		181
Carnival Corp. (a)		157		2,905
Royal Caribbean Cruises Ltd. (a)		37		4,771


				7,857

Lodging — 0.2%
Hilton Worldwide Holdings, Inc.		40		7,321
Hyatt Hotels Corp., Class A		9		1,155
Las Vegas Sands Corp.		50		2,476
Marriott International, Inc., Class A		38		8,546
MGM Resorts International (a)		48		2,143
Wynn Resorts Ltd.		14		1,255


				22,896

Retail — 2.6%
Alimentation Couche-Tard, Inc., (Canada)		56		3,326
AutoZone, Inc. (a)		3		6,619
Bath & Body Works, Inc.		34		1,476
Best Buy Co., Inc.		32		2,491
Burlington Stores, Inc. (a)		10		1,940
Canadian Tire Corp. Ltd., (Canada), Class A		4		411
CarMax, Inc. (a)		26		2,016
Chipotle Mexican Grill, Inc., Class A (a)		4		9,280
Costco Wholesale Corp.		36		23,952
Darden Restaurants, Inc.		19		3,085
Dick’s Sporting Goods, Inc.		10		1,498
Dollar General Corp.		19		2,647
Dollar Tree, Inc. (a)		19		2,759
Dollarama, Inc., (Canada)		21		1,489
Domino’s Pizza, Inc.		5		1,991
Genuine Parts Co.		23		3,184
Home Depot, Inc. (The)		147		50,901
Lowe’s Cos., Inc.		85		18,845
Lululemon Athletica, Inc., (Canada) (a)		17		8,538
McDonald’s Corp.		108		31,989
O’Reilly Automotive, Inc. (a)		9		8,207
Restaurant Brands International, Inc., (Canada)		21		1,641
Ross Stores, Inc.		48		6,680
Starbucks Corp.		171		16,444


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Retail — continued
Target Corp.		40		5,658
TJX Cos., Inc. (The)		167		15,672
Tractor Supply Co.		15		3,288
Ulta Beauty, Inc. (a)		7		3,259
Walgreens Boots Alliance, Inc.		67		1,753
Walmart, Inc.		123		19,333
Yum! Brands, Inc.		40		5,194


				265,566

Toys/Games/Hobbies — 0.0% (g)
Hasbro, Inc.		25		1,290

Total Consumer Cyclical				517,142

Consumer Non-cyclical — 19.7%
Agriculture — 0.2%
Altria Group, Inc.		147		5,945
Archer-Daniels-Midland Co.		47		3,373
Bunge Global SA		14		1,451
Darling Ingredients, Inc. (a)		12		576
Philip Morris International, Inc.		124		11,630


				22,975

Beverages — 2.3%
Brown-Forman Corp., Class B		87		4,994
Celsius Holdings, Inc. (a)		38		2,045
Coca-Cola Co. (The)		2,063		121,566
Constellation Brands, Inc., Class A		47		11,385
Keurig Dr Pepper, Inc.		315		10,481
Molson Coors Beverage Co., Class B		57		3,513
Monster Beverage Corp. (a)		224		12,900
PepsiCo., Inc.		400		67,938


				234,822

Biotechnology — 1.5%
Alnylam Pharmaceuticals, Inc. (a)		29		5,627
Amgen, Inc.		130		37,469
Biogen, Inc. (a)		36		9,226
BioMarin Pharmaceutical, Inc. (a)		42		4,074
Bio-Rad Laboratories, Inc., Class A (a)		5		1,599
Corteva, Inc.		60		2,872
Gilead Sciences, Inc.		303		24,576
Illumina, Inc. (a)		41		5,698
Incyte Corp. (a)		41		2,590
Moderna, Inc. (a)		82		8,118
Regeneron Pharmaceuticals, Inc. (a)		26		22,726
Royalty Pharma plc, Class A		26		740
United Therapeutics Corp. (a)		11		2,357
Vertex Pharmaceuticals, Inc. (a)		62		25,207


				152,879

Commercial Services — 0.8%
Automatic Data Processing, Inc.		35		8,059
Block, Inc., Class A (a)		57		4,424
Booz Allen Hamilton Holding Corp., Class A		11		1,465


SECURITY DESCRIPTION	SHARES		VALUE ($)

Commercial Services — continued
Cadiz, Inc. (a)		6		18
Cintas Corp.		8		4,729
CoStar Group, Inc. (a)		31		2,689
Element Fleet Management Corp., (Canada)		28		461
Equifax, Inc.		11		2,629
FleetCor Technologies, Inc. (a)		8		2,158
Gartner, Inc. (a)		11		4,826
Global Payments, Inc.		28		3,564
MarketAxess Holdings, Inc.		4		1,218
Moody’s Corp.		17		6,707
Paylocity Holding Corp. (a)		4		617
PayPal Holdings, Inc. (a)		105		6,443
Quanta Services, Inc.		12		2,664
RB Global, Inc.		13		890
Robert Half, Inc.		11		951
Rollins, Inc.		25		1,097
S&P Global, Inc.		33		14,585
Toast, Inc., Class A (a)		33		609
TransUnion		19		1,298
U-Haul Holding Co., Class B		12		820
United Rentals, Inc.		6		3,460
Verisk Analytics, Inc., Class A		12		2,952


				79,333

Cosmetics/Personal Care — 0.4%
Colgate-Palmolive Co.		60		4,801
Estee Lauder Cos., Inc. (The), Class A		20		2,967
Kenvue, Inc.		155		3,341
Procter & Gamble Co. (The)		194		28,447


				39,556

Food — 0.4%
Albertsons Cos., Inc., Class A		34		777
Campbell Soup Co.		21		891
Conagra Brands, Inc.		44		1,263
Empire Co. Ltd., (Canada), Class A		11		281
General Mills, Inc.		50		3,262
George Weston Ltd., (Canada)		5		561
Hershey Co. (The)		11		2,062
Hormel Foods Corp.		26		830
J M Smucker Co. (The)		10		1,229
Kellanova		25		1,412
Kraft Heinz Co. (The)		79		2,933
Kroger Co. (The)		59		2,686
Lamb Weston Holdings, Inc.		11		1,136
Loblaw Cos. Ltd., (Canada)		11		1,112
McCormick & Co., Inc.		19		1,285
Metro, Inc., (Canada)		17		870
Mondelez International, Inc., Class A		114		8,252
Saputo, Inc., (Canada)		19		378
Sysco Corp.		44		3,190
Tyson Foods, Inc., Class A		27		1,454


				35,864


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Healthcare — Products — 3.6%
Abbott Laboratories		282		31,046
Agilent Technologies, Inc.		74		10,345
Align Technology, Inc. (a)		6		1,552
Avantor, Inc. (a)		162		3,688
Baxter International, Inc.		77		2,966
Bio-Techne Corp.		39		2,996
Boston Scientific Corp. (a)		233		13,468
Cooper Cos., Inc. (The)		3		1,271
Danaher Corp.		370		85,619
Edwards Lifesciences Corp. (a)		96		7,288
Exact Sciences Corp. (a)		41		3,062
GE HealthCare Technologies, Inc.		62		4,829
Hologic, Inc. (a)		38		2,696
IDEXX Laboratories, Inc. (a)		13		7,218
Insulet Corp. (a)		10		2,170
Intuitive Surgical, Inc. (a)		56		19,010
Medtronic plc, (Ireland)		219		18,005
Repligen Corp. (a)		12		2,246
ResMed, Inc.		23		3,934
Revvity, Inc.		33		3,586
STERIS plc		15		3,362
Stryker Corp.		55		16,325
Teleflex, Inc.		7		1,675
Thermo Fisher Scientific, Inc.		191		101,500
Waters Corp. (a)		14		4,672
West Pharmaceutical Services, Inc.		18		6,344
Zimmer Biomet Holdings, Inc.		33		3,992


				364,865

Healthcare — Services — 3.1%
Catalent, Inc. (a)		73		3,260
Centene Corp. (a)		138		10,258
Charles River Laboratories International, Inc. (a)		14		3,343
DaVita, Inc. (a)		5		572
Elevance Health, Inc.		59		27,628
HCA Healthcare, Inc.		16		4,244
Humana, Inc.		31		14,079
IQVIA Holdings, Inc. (a)		46		10,715
Laboratory Corp. of America Holdings		7		1,639
Molina Healthcare, Inc. (a)		14		5,139
Quest Diagnostics, Inc.		8		1,102
UnitedHealth Group, Inc.		449		236,311
Universal Health Services, Inc., Class B		6		860


				319,150

Household Products/Wares — 0.1%
Avery Dennison Corp.		8		1,590
Church & Dwight Co., Inc.		17		1,595
Clorox Co. (The)		11		1,537
Kimberly-Clark Corp.		26		3,109


				7,831


SECURITY DESCRIPTION	SHARES		VALUE ($)

Pharmaceuticals — 7.3%
AbbVie, Inc.		429		66,507
Becton Dickinson & Co.		47		11,427
Bristol-Myers Squibb Co.		862		44,228
Cardinal Health, Inc.		23		2,292
Cencora, Inc.		15		3,029
Cigna Group (The)		25		7,493
CVS Health Corp.		108		8,559
Dexcom, Inc. (a)		62		7,651
Eli Lilly & Co.		335		195,134
Henry Schein, Inc. (a)		9		689
Jazz Pharmaceuticals plc (a)		4		489
Johnson & Johnson		1,012		158,604
McKesson Corp.		12		5,346
Merck & Co., Inc.		1,066		116,242
Neurocrine Biosciences, Inc. (a)		21		2,782
Pfizer, Inc.		2,375		68,384
Viatris, Inc.		528		5,715
Zoetis, Inc., Class A		192		37,902


				742,473

Total Consumer Non-cyclical				1,999,748

Energy — 5.8%
Coal — 0.0% (g)
Teck Resources Ltd., (Canada), Class B		34		1,424

Energy — Alternate Sources — 0.1%
Enphase Energy, Inc. (a)		33		4,354
First Solar, Inc. (a)		25		4,366
Montauk Renewables, Inc. (a)		8		73
NextEra Energy Partners LP		15		446
Spruce Power Holding Corp. (a)		2		8
Sunnova Energy International, Inc. (a)		17		263


				9,510

Oil & Gas — 3.9%
APA Corp.		89		3,195
ARC Resources Ltd., (Canada)		44		656
Canadian Natural Resources Ltd., (Canada)		80		5,221
Cenovus Energy, Inc., (Canada)		104		1,732
Chesapeake Energy Corp.		34		2,652
Chevron Corp.		518		77,291
ConocoPhillips		342		39,727
Coterra Energy, Inc.		221		5,635
Devon Energy Corp.		189		8,559
Diamondback Energy, Inc.		49		7,561
EOG Resources, Inc.		168		20,300
EQT Corp.		110		4,266
Exxon Mobil Corp.		1,140		113,990
Hess Corp.		77		11,127
HF Sinclair Corp.		48		2,679
Imperial Oil Ltd., (Canada)		15		827
Marathon Oil Corp.		172		4,157
Marathon Petroleum Corp.		115		17,047


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Oil & Gas — continued
MEG Energy Corp., (Canada), Class Common S (a)		21		376
Occidental Petroleum Corp.		192		11,446
Ovintiv, Inc.		78		3,416
Parkland Corp., (Canada)		10		335
Phillips 66		128		16,987
Pioneer Natural Resources Co.		68		15,210
Suncor Energy, Inc., (Canada)		95		3,044
Texas Pacific Land Corp.		2		2,601
Tourmaline Oil Corp., (Canada)		24		1,061
Valero Energy Corp.		101		13,158


				394,256

Oil & Gas Services — 1.2%
Baker Hughes Co., Class A		294		10,061
Halliburton Co.		254		9,165
Schlumberger NV		1,956		101,767


				120,993

Pipelines — 0.6%
Cheniere Energy, Inc.		67		11,490
Enbridge, Inc., (Canada)		155		5,592
Keyera Corp., (Canada)		17		408
Kinder Morgan, Inc.		560		9,873
ONEOK, Inc.		164		11,506
Pembina Pipeline Corp., (Canada)		40		1,382
Targa Resources Corp.		59		5,102
TC Energy Corp., (Canada)		75		2,937
Williams Cos., Inc. (The)		340		11,825


				60,115

Total Energy				586,298

Financial — 10.4%
Banks — 3.9%
Bank of America Corp.		4,593		154,633
Bank of Montreal, (Canada)		53		5,212
Bank of New York Mellon Corp. (The)		87		4,511
Bank of Nova Scotia (The), (Canada)		88		4,288
Canadian Imperial Bank of Commerce, (Canada)		68		3,252
Citigroup, Inc.		195		10,030
Citizens Financial Group, Inc.		62		2,069
Fifth Third Bancorp		82		2,843
First Citizens BancShares, Inc., Class A		1		1,859
Goldman Sachs Group, Inc. (The)		34		13,101
Huntington Bancshares, Inc.		179		2,278
KeyCorp.		133		1,909
M&T Bank Corp.		20		2,681
Morgan Stanley		1,305		121,727
National Bank of Canada, (Canada)		25		1,883
Northern Trust Corp.		23		1,937
PNC Financial Services Group, Inc. (The)		42		6,501
Regions Financial Corp.		115		2,228
Royal Bank of Canada, (Canada)		102		10,311


SECURITY DESCRIPTION	SHARES		VALUE ($)

Banks — continued
State Street Corp.		36		2,791
Toronto-Dominion Bank (The), (Canada)		133		8,590
Truist Financial Corp.		143		5,283
US Bancorp		160		6,927
Wells Fargo & Co.		367		18,087


				394,931

Diversified Financial Services — 2.3%
Ally Financial, Inc.		33		1,159
American Express Co.		65		12,125
Ameriprise Financial, Inc.		11		4,153
Apollo Global Management, Inc.		43		3,981
Ares Management Corp., Class A		19		2,261
BlackRock, Inc., Class A		2		1,534
Brookfield Asset Management Ltd., (Canada), Class A		26		1,029
Capital One Financial Corp.		41		5,374
Cboe Global Markets, Inc.		13		2,410
Charles Schwab Corp. (The)		150		10,305
CME Group, Inc., Class A		38		8,042
Coinbase Global, Inc., Class A (a)		18		3,080
Discover Financial Services		29		3,289
Franklin Resources, Inc.		34		1,027
IGM Financial, Inc., (Canada)		6		157
Intercontinental Exchange, Inc.		59		7,600
LPL Financial Holdings, Inc.		9		2,041
Mastercard, Inc., Class A		167		71,081
Nasdaq, Inc.		37		2,137
Raymond James Financial, Inc.		24		2,703
SEI Investments Co.		18		1,138
Synchrony Financial		54		2,043
T Rowe Price Group, Inc.		25		2,653
TMX Group Ltd., (Canada)		20		489
Tradeweb Markets, Inc., Class A		14		1,302
Visa, Inc., Class A		324		84,445


				237,558

Insurance — 2.2%
Aflac, Inc.		62		5,152
Allstate Corp. (The)		29		3,998
American Financial Group, Inc.		8		1,009
American International Group, Inc.		74		4,994
Aon plc, Class A		20		5,940
Arch Capital Group Ltd., (Bermuda) (a)		41		3,059
Arthur J Gallagher & Co.		22		4,991
Assurant, Inc.		6		984
Berkshire Hathaway, Inc., Class B (a)		130		46,478
Brown & Brown, Inc.		27		1,912
Chubb Ltd., (Switzerland)		40		9,138
Cincinnati Financial Corp.		17		1,776
Equitable Holdings, Inc.		38		1,262
Erie Indemnity Co., Class A		3		1,053
Everest Group Ltd., (Bermuda)		5		1,795
Fairfax Financial Holdings Ltd., (Canada)		2		1,438
Fidelity National Financial, Inc.		27		1,381


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Insurance — continued
Globe Life, Inc.		13		1,611
Great-West Lifeco, Inc., (Canada)		20		674
Hartford Financial Services Group, Inc. (The)		37		2,978
iA Financial Corp., Inc., (Canada)		7		504
Intact Financial Corp., (Canada)		13		2,000
Loews Corp.		25		1,769
Manulife Financial Corp., (Canada)		133		2,935
Markel Group, Inc. (a)		1		1,940
Marsh & McLennan Cos., Inc.		50		9,512
MetLife, Inc.		68		4,512
Power Corp. of Canada, (Canada)		42		1,203
Principal Financial Group, Inc.		29		2,310
Progressive Corp. (The)		486		77,405
Prudential Financial, Inc.		37		3,883
Sun Life Financial, Inc., (Canada)		43		2,224
Travelers Cos., Inc. (The)		25		4,781
Willis Towers Watson plc, (United Kingdom)		10		2,444
WR Berkley Corp.		24		1,707


				220,752

Private Equity — 0.3%
Blackstone, Inc.		114		14,973
Brookfield Corp., (Canada)		102		4,083
Carlyle Group, Inc. (The)		30		1,223
KKR & Co., Inc.		59		4,854
Onex Corp., (Canada)		5		347


				25,480

Real Estate — 0.0% (g)
CBRE Group, Inc., Class A (a)		28		2,589
FirstService Corp., (Canada)		3		473


				3,062

REITS — 1.7%
Alexandria Real Estate Equities, Inc.		15		1,850
American Homes 4 Rent, Class A		23		820
American Tower Corp.		464		100,270
Annaly Capital Management, Inc.		54		1,053
AvalonBay Communities, Inc.		13		2,361
Boston Properties, Inc.		14		974
Camden Property Trust		5		529
Canadian Apartment Properties REIT, (Canada)		6		223
Crown Castle, Inc.		38		4,373
Digital Realty Trust, Inc.		25		3,389
Equinix, Inc.		7		6,023
Equity LifeStyle Properties, Inc.		12		867
Equity Residential		32		1,945
Essex Property Trust, Inc.		5		1,196
Extra Space Storage, Inc.		16		2,641
Gaming and Leisure Properties, Inc.		17		841
Healthpeak Properties, Inc.		54		1,063
Host Hotels & Resorts, Inc.		65		1,260


SECURITY DESCRIPTION	SHARES		VALUE ($)

REITS — continued
Invitation Homes, Inc.		42		1,420
Iron Mountain, Inc.		21		1,489
Kimco Realty Corp.		67		1,419
Mid-America Apartment Communities, Inc.		8		1,042
Prologis, Inc.		73		9,713
Public Storage		12		3,664
Realty Income Corp.		63		3,613
Regency Centers Corp.		11		755
RioCan Real Estate Investment Trust, (Canada)		11		153
SBA Communications Corp., Class A		8		2,025
Simon Property Group, Inc.		29		4,137
Sun Communities, Inc.		9		1,206
UDR, Inc.		23		862
Ventas, Inc.		34		1,719
VICI Properties, Inc., Class A		76		2,415
Welltower, Inc.		41		3,684
Weyerhaeuser Co.		60		2,075
WP Carey, Inc.		19		1,231


				174,300

Total Financial				1,056,083

Industrial — 7.8%
Aerospace/Defense — 0.5%
Boeing Co. (The) (a)		47		12,299
CAE, Inc., (Canada) (a)		23		499
General Dynamics Corp.		20		5,093
HEICO Corp.		2		389
HEICO Corp., Class A		4		549
Howmet Aerospace, Inc.		35		1,899
L3Harris Technologies, Inc.		16		3,412
Lockheed Martin Corp.		19		8,398
Northrop Grumman Corp.		12		5,678
RTX Corp.		121		10,218
TransDigm Group, Inc.		4		4,210


				52,644

Building Materials — 0.2%
Builders FirstSource, Inc. (a)		11		1,886
Carrier Global Corp.		71		4,069
Fortune Brands Innovations, Inc.		14		1,053
Johnson Controls International plc		59		3,374
Lennox International, Inc.		2		980
Martin Marietta Materials, Inc.		6		2,756
Masco Corp.		21		1,396
Owens Corning		9		1,321
Trane Technologies plc, (Ireland)		19		4,715
Vulcan Materials Co.		12		2,618
West Fraser Timber Co. Ltd., (Canada)		4		359


				24,527

Electrical Components & Equipment — 0.1%
AMETEK, Inc.		21		3,438
Eaton Corp. plc		34		8,098
Emerson Electric Co.		48		4,651


				16,187


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Electronics — 1.6%
Allegion plc, (Ireland)		5		608
Amphenol Corp., Class A		489		48,468
Fortive Corp.		30		2,236
Garmin Ltd., (Switzerland)		23		2,939
Honeywell International, Inc.		55		11,513
Hubbell, Inc., Class B		5		1,778
Jabil, Inc.		111		14,101
Keysight Technologies, Inc. (a)		145		23,063
Mettler-Toledo International, Inc. (a)		5		6,460
TE Connectivity Ltd.		260		36,509
Trimble, Inc. (a)		202		10,753


				158,428

Engineering & Construction — 0.1%
AECOM		14		1,257
Jacobs Solutions, Inc.		11		1,460
Stantec, Inc., (Canada)		8		649
Star Group LP		5		56
WSP Global, Inc., (Canada)		9		1,277


				4,699

Environmental Control — 0.2%
GFL Environmental, Inc., (Canada)		17		583
Pentair plc, (United Kingdom)		15		1,095
Pure Cycle Corp. (a)		3		32
Republic Services, Inc., Class A		20		3,230
Veralto Corp.		18		1,441
Waste Connections, Inc., (Canada)		23		3,402
Waste Management, Inc.		34		6,037


				15,820

Hand/Machine Tools — 0.0% (g)
Snap-on, Inc.		5		1,505
Stanley Black & Decker, Inc.		15		1,464


				2,969

Machinery — Construction & Mining — 0.1%
Caterpillar, Inc.		42		12,499
Vertiv Holdings Co., Class A		27		1,294


				13,793

Machinery — Diversified — 0.3%
CNH Industrial NV, (United Kingdom)		92		1,116
Deere & Co.		23		9,246
Dover Corp.		13		1,977
Graco, Inc.		12		1,030
IDEX Corp.		5		1,176
Ingersoll Rand, Inc.		35		2,714
Nordson Corp.		4		955
Otis Worldwide Corp.		35		3,128
Rockwell Automation, Inc.		10		3,066
Toro Co. (The)		12		1,146
Westinghouse Air Brake Technologies Corp.		17		2,136
Xylem, Inc.		21		2,402


				30,092


SECURITY DESCRIPTION	SHARES		VALUE ($)

Miscellaneous Manufacturers — 0.5%
3M Co.		46		5,042
AO Smith Corp.		12		951
Axon Enterprise, Inc. (a)		5		1,332
Carlisle Cos., Inc.		4		1,382
General Electric Co.		90		11,461
Illinois Tool Works, Inc.		25		6,555
Parker-Hannifin Corp.		11		5,054
Teledyne Technologies, Inc. (a)		38		17,168
Textron, Inc.		20		1,626


				50,571

Packaging & Containers — 0.1%
Amcor plc, (United Kingdom)		141		1,356
Ball Corp.		29		1,649
CCL Industries, Inc., (Canada), Class B		11		488
Crown Holdings, Inc.		12		1,069
Packaging Corp. of America		9		1,475
Westrock Co.		29		1,205


				7,242

Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc.		4		1,114

Transportation — 4.1%
Canadian National Railway Co., (Canada)		41		5,119
Canadian Pacific Kansas City Ltd., (Canada)		68		5,386
CH Robinson Worldwide, Inc.		12		1,038
CSX Corp.		4,171		144,609
Expeditors International of Washington, Inc.		14		1,833
FedEx Corp.		20		5,023
JB Hunt Transport Services, Inc.		8		1,606
Knight-Swift Transportation Holdings, Inc., Class A		17		985
Norfolk Southern Corp.		19		4,557
Old Dominion Freight Line, Inc.		8		3,399
TFI International, Inc., (Canada)		6		810
Union Pacific Corp.		50		12,331
United Parcel Service, Inc., Class B		1,478		232,378


				419,074

Total Industrial				797,160

Technology — 29.6%
Computers — 8.2%
Accenture plc, (Ireland), Class A		83		28,992
Apple, Inc.		3,721		716,481
CGI, Inc., (Canada), Class A (a)		15		1,636
Cognizant Technology Solutions Corp., Class A		70		5,268
Crowdstrike Holdings, Inc., Class A (a)		57		14,616
Dell Technologies, Inc., Class C		64		4,889
EPAM Systems, Inc. (a)		8		2,442
Fortinet, Inc. (a)		161		9,418
Hewlett Packard Enterprise Co.		315		5,355


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Computers — continued
HP, Inc.		216		6,498
International Business Machines Corp.		122		19,887
Leidos Holdings, Inc.		13		1,429
NetApp, Inc.		51		4,521
Seagate Technology Holdings plc		47		3,990
Super Micro Computer, Inc. (a)		11		3,115
Western Digital Corp. (a)		81		4,234
Zscaler, Inc. (a)		22		4,876


				837,647

Office/Business Equipment — 0.1%
Zebra Technologies Corp., Class A (a)		41		11,310

Semiconductors — 8.2%
Advanced Micro Devices, Inc. (a)		406		59,788
Analog Devices, Inc.		125		24,912
Applied Materials, Inc.		211		34,121
Broadcom, Inc.		111		124,429
Entegris, Inc.		36		4,335
Intel Corp.		1,054		52,950
KLA Corp.		34		19,511
Lam Research Corp.		33		26,085
Lattice Semiconductor Corp. (a)		31		2,125
Marvell Technology, Inc.		218		13,125
Microchip Technology, Inc.		138		12,435
Micron Technology, Inc.		279		23,775
Monolithic Power Systems, Inc.		11		6,949
NVIDIA Corp.		619		306,297
NXP Semiconductors NV, (Netherlands)		66		15,058
ON Semiconductor Corp. (a)		107		8,942
Qorvo, Inc. (a)		23		2,564
QUALCOMM, Inc.		281		40,693
Skyworks Solutions, Inc.		41		4,627
Teradyne, Inc.		37		4,038
Texas Instruments, Inc.		227		38,710


				825,469

Software — 13.1%
Adobe, Inc. (a)		113		67,678
Akamai Technologies, Inc. (a)		22		2,642
ANSYS, Inc. (a)		22		7,889
Aspen Technology, Inc. (a)		8		1,739
Atlassian Corp., (Australia), Class A (a)		39		9,322
Autodesk, Inc. (a)		53		13,007
Bentley Systems, Inc., Class B		47		2,443
BILL Holdings, Inc. (a)		23		1,857
Broadridge Financial Solutions, Inc.		11		2,211
Cadence Design Systems, Inc. (a)		68		18,438
Ceridian HCM Holding, Inc. (a)		9		630
Cloudflare, Inc., Class A (a)		37		3,096
Confluent, Inc., Class A (a)		41		957
Constellation Software, Inc., (Canada)		1		3,647
Datadog, Inc., Class A (a)		64		7,813
Descartes Systems Group, Inc. (The), (Canada) (a)		6		520


SECURITY DESCRIPTION	SHARES		VALUE ($)

Software — continued
DocuSign, Inc., Class A (a)		54		3,233
Dropbox, Inc., Class A (a)		60		1,777
Dynatrace, Inc. (a)		64		3,501
Electronic Arts, Inc.		43		5,876
Fair Isaac Corp. (a)		6		7,059
Fidelity National Information Services, Inc.		60		3,623
Fiserv, Inc. (a)		61		8,144
HubSpot, Inc. (a)		12		7,013
Intuit, Inc.		70		43,539
Jack Henry & Associates, Inc.		8		1,336
Manhattan Associates, Inc. (a)		14		3,116
Microsoft Corp.		2,240		842,406
MongoDB, Inc., Class A (a)		9		3,723
MSCI, Inc., Class A		8		4,648
Open Text Corp., (Canada)		20		833
Oracle Corp.		409		43,138
Palantir Technologies, Inc., Class A (a)		463		7,943
Paychex, Inc.		28		3,325
Paycom Software, Inc.		5		963
PTC, Inc. (a)		29		5,051
ROBLOX Corp., Class A (a)		67		3,079
Roper Technologies, Inc.		27		14,558
Salesforce, Inc. (a)		242		63,684
ServiceNow, Inc. (a)		51		35,883
Snowflake, Inc., Class A (a)		38		7,650
Splunk, Inc. (a)		40		6,052
SS&C Technologies Holdings, Inc.		22		1,348
Synopsys, Inc. (a)		38		19,571
Take-Two Interactive Software, Inc. (a)		30		4,775
Twilio, Inc., Class A (a)		24		1,838
Tyler Technologies, Inc. (a)		11		4,423
UiPath, Inc., Class A (a)		91		2,253
Unity Software, Inc. (a)		63		2,567
Veeva Systems, Inc., Class A (a)		11		2,106
Workday, Inc., Class A (a)		52		14,292
Zoom Video Communications, Inc., Class A (a)		59		4,233


				1,332,448

Total Technology				3,006,874

Utilities — 2.4%
Electric — 2.2%
AES Corp. (The)		153		2,946
Algonquin Power & Utilities Corp., (Canada)		48		304
ALLETE, Inc.		9		550
Alliant Energy Corp.		58		2,951
Altus Power, Inc., Class A (a)		10		72
Ameren Corp.		61		4,384
American Electric Power Co., Inc.		125		10,125
Avangrid, Inc.		12		397
Avista Corp.		12		422
Black Hills Corp.		11		570
Brookfield Renewable Corp., Class A		10		287
CenterPoint Energy, Inc.		144		4,108


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Electric — continued
Clearway Energy, Inc., Class A		5		130
Clearway Energy, Inc., Class C		12		337
CMS Energy Corp.		67		3,892
Consolidated Edison, Inc.		85		7,710
Constellation Energy Corp.		78		9,094
Dominion Energy, Inc.		203		9,524
DTE Energy Co.		50		5,549
Duke Energy Corp.		185		17,932
Edison International		96		6,874
Emera, Inc., (Canada)		20		757
Entergy Corp.		52		5,276
Evergy, Inc.		57		2,954
Eversource Energy		85		5,227
Exelon Corp.		243		8,717
FirstEnergy Corp.		125		4,597
Fortis, Inc., (Canada)		36		1,463
Genie Energy Ltd., Class B		3		86
Hawaiian Electric Industries, Inc.		17		242
Hydro One Ltd., (Canada) (e)		24		721
IDACORP, Inc.		8		784
MGE Energy, Inc.		6		411
NextEra Energy, Inc.		486		29,541
Northland Power, Inc., (Canada)		19		339
Northwestern Energy Group, Inc.		10		488
NRG Energy, Inc.		55		2,841
OGE Energy Corp.		32		1,100
Ormat Technologies, Inc.		9		645
Otter Tail Corp.		6		500
PG&E Corp.		500		9,008
Pinnacle West Capital Corp.		18		1,278
PNM Resources, Inc.		13		531
Portland General Electric Co.		16		682
PPL Corp.		167		4,538
Public Service Enterprise Group, Inc.		119		7,277
Sempra		149		11,148
Southern Co. (The)		263		18,433
Unitil Corp.		2		130
Via Renewables, Inc., Class A		1		5
Vistra Corp.		77		2,948
WEC Energy Group, Inc.		73		6,153
Xcel Energy, Inc.		133		8,221


				225,199

Gas — 0.1%
AltaGas Ltd., (Canada)		20		429
Atmos Energy Corp.		34		3,923
Canadian Utilities Ltd., (Canada), Class A		10		233
Chesapeake Utilities Corp.		3		363
National Fuel Gas Co.		14		691
New Jersey Resources Corp.		15		688
NiSource, Inc.		95		2,512
Northwest Natural Holding Co.		6		225
ONE Gas, Inc.		9		555
RGC Resources, Inc.		1		24
Southwest Gas Holdings, Inc.		11		715


SECURITY DESCRIPTION	SHARES		VALUE ($)

Gas — continued
Spire, Inc.		8		515
UGI Corp.		33		813


				11,686

Water — 0.1%
American States Water Co.		6		467
American Water Works Co., Inc.		45		5,962
Artesian Resources Corp., Class A		2		64
California Water Service Group		9		470
Consolidated Water Co. Ltd., (Cayman Islands)		2		87
Essential Utilities, Inc.		54		2,009
Middlesex Water Co.		3		183
SJW Group		5		312
York Water Co. (The)		2		83


				9,637

Total Utilities				246,522

Total Common Stocks (Cost $7,911,123)				10,092,166


	NUMBER OF WARRANTS
Warrant — 0.0%
Technology — 0.0%
Software — 0.0%
Constellation Software, Inc. (Canada), expiring 03/31/2040 (a) (bb) (cc) (Cost $—)		1		—


	PRINCIPAL AMOUNT ($)
Short-Term Investments — 0.9%
Time Deposits — 0.9%
Australia & New Zealand Banking Group Ltd., 4.68%, 01/02/2024		670		670
Citibank NA, 4.68%, 01/02/2024		65,896		65,896
Royal Bank of Canada,
3.79%, 01/02/2024	CAD	1,042		787
4.68%, 01/02/2024		19,562		19,562
Sumitomo Mitsui Banking Corp., 4.68%, 01/02/2024		4,566		4,566
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 01/02/2024		772		772

Total Short-Term Investments (Cost $92,253)				92,253


Total Investments — 100.1% (Cost — $8,003,376)				10,184,419

Liabilities in Excess of Other Assets — (0.1)%				(7,983)


NET ASSETS — 100.0%				$10,176,436

Percentages indicated are based on net assets.

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF DECEMBER 31, 2023


REIT		— Real Estate Investment Trust
(a)		— Non-income producing security.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
CAD		— Canadian Dollar
USD		— United States Dollar

Summary of Investments by Industry, December 31, 2023

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Internet		15.1	%

Software		13.1	%

Computers		8.2	%

Semiconductors		8.1	%

Pharmaceuticals		7.3	%

Transportation		4.1	%

Banks		3.9	%

Oil & Gas		3.9	%

Healthcare — Products		3.6	%

Healthcare — Services		3.1	%

Retail		2.6	%

Beverages		2.3	%

Diversified Financial Services		2.3	%

Electric		2.2	%

Insurance		2.2	%

REITS		1.7	%

Electronics		1.6	%

Telecommunications		1.6	%

Biotechnology		1.5	%

Auto Manufacturers		1.4	%

Oil & Gas Services		1.2	%

Others (Each less than 1.0%)		8.1	%

Short-Term Investments		0.9	%


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — 98.5%
Australia — 3.2%
Ampol Ltd.		31		757
ANZ Group Holdings Ltd.		393		6,945
APA Group		167		970
Aristocrat Leisure Ltd.		77		2,142
ASX Ltd.		27		1,150
Aurizon Holdings Ltd.		235		609
BHP Group Ltd.		665		22,725
BlueScope Steel Ltd.		58		931
Brambles Ltd.		183		1,697
CAR Group Ltd.		47		1,003
Cochlear Ltd.		9		1,751
Coles Group Ltd.		175		1,921
Commonwealth Bank of Australia		220		16,754
Computershare Ltd.		73		1,210
CSL Ltd.		63		12,374
Dexus		134		702
EBOS Group Ltd.		20		448
Endeavour Group Ltd.		185		659
Fortescue Ltd.		223		4,391
Goodman Group		225		3,867
GPT Group (The)		241		762
IDP Education Ltd.		36		486
IGO Ltd.		90		552
Insurance Australia Group Ltd.		323		1,249
Lottery Corp. Ltd (The)		285		940
Macquarie Group Ltd.		49		6,087
Medibank Pvt Ltd.		360		873
Mineral Resources Ltd.		23		1,103
Mirvac Group		499		710
National Australia Bank Ltd.		410		8,562
Northern Star Resources Ltd.		151		1,399
Orica Ltd.		60		656
Origin Energy Ltd.		227		1,311
Pilbara Minerals Ltd.		378		1,013
Qantas Airways Ltd. (a)		110		402
QBE Insurance Group Ltd.		197		1,999
Ramsay Health Care Ltd.		24		855
REA Group Ltd.		7		854
Reece Ltd.		29		446
Rio Tinto Ltd.		49		4,514
Santos Ltd.		423		2,198
Scentre Group		663		1,350
SEEK Ltd.		47		853
Sonic Healthcare Ltd.		60		1,307
South32 Ltd.		598		1,352
Stockland		302		917
Suncorp Group Ltd.		170		1,614
Telstra Group Ltd.		534		1,444
Transurban Group		404		3,772
Treasury Wine Estates Ltd.		104		764
Vicinity Ltd.		484		672
Washington H Soul Pattinson & Co. Ltd.		32		715
Wesfarmers Ltd.		149		5,793
Westpac Banking Corp.		459		7,165


SECURITY DESCRIPTION	SHARES		VALUE ($)

Australia — continued
WiseTech Global Ltd.		22		1,129
Woodside Energy Group Ltd.		249		5,255
Woolworths Group Ltd.		160		4,062


				158,141

Austria — 0.3%
Erste Group Bank AG		124		5,034
OMV AG		55		2,409
Verbund AG		27		2,510
voestalpine AG		85		2,683


				12,636

Belgium — 2.0%
Ageas SA		103		4,460
Anheuser-Busch InBev SA		1,029		66,439
D’ieteren Group		— (h)		62
Elia Group SA		12		1,471
Groupe Bruxelles Lambert NV		32		2,505
KBC Group NV		90		5,870
Lotus Bakeries NV		— (h)		2,144
Sofina SA		6		1,388
Syensqo SA (a)		41		4,291
UCB SA		43		3,715
Umicore SA		116		3,204
Warehouses De Pauw CVA		3		90


				95,639

Canada — 1.0%
Agnico Eagle Mines Ltd.		12		676
Air Canada (a)		4		62
Algonquin Power & Utilities Corp.		16		104
Alimentation Couche-Tard, Inc.		19		1,134
AltaGas Ltd.		7		147
ARC Resources Ltd.		15		223
Bank of Montreal		18		1,776
Bank of Nova Scotia (The)		30		1,461
Barrick Gold Corp.		44		790
BCE, Inc.		2		70
Brookfield Asset Management Ltd., Class A		9		351
Brookfield Corp.		35		1,392
BRP, Inc.		1		62
CAE, Inc. (a)		8		171
Cameco Corp.		11		465
Canadian Apartment Properties REIT		2		74
Canadian Imperial Bank of Commerce		23		1,108
Canadian National Railway Co.		14		1,744
Canadian Natural Resources Ltd.		27		1,779
Canadian Pacific Kansas City Ltd.		23		1,836
Canadian Tire Corp. Ltd., Class A		1		139
Canadian Utilities Ltd., Class A		3		77
CCL Industries, Inc., Class B		4		167
Cenovus Energy, Inc.		35		590
CGI, Inc. (a)		5		557
Constellation Software, Inc.		1		1,242
Descartes Systems Group, Inc. (The) (a)		2		178


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Canada — continued
Dollarama, Inc.		7		507
Element Fleet Management Corp.		10		158
Emera, Inc.		7		259
Empire Co. Ltd., Class A		4		96
Enbridge, Inc.		53		1,906
Fairfax Financial Holdings Ltd.		1		490
First Quantum Minerals Ltd.		15		121
FirstService Corp.		1		162
Fortis, Inc.		12		498
Franco-Nevada Corp.		5		530
George Weston Ltd.		2		191
GFL Environmental, Inc.		6		199
Gildan Activewear, Inc., Class A		4		145
Great-West Lifeco, Inc.		7		229
Hydro One Ltd. (e)		8		247
iA Financial Corp., Inc.		3		172
IGM Financial, Inc.		2		54
Imperial Oil Ltd.		5		282
Intact Financial Corp.		4		682
Ivanhoe Mines Ltd., Class A (a)		15		147
Keyera Corp.		6		138
Kinross Gold Corp.		30		184
Loblaw Cos. Ltd.		4		379
Lundin Mining Corp.		16		134
Magna International, Inc.		7		400
Manulife Financial Corp.		45		1,000
MEG Energy Corp. (a)		7		127
Metro, Inc.		6		297
National Bank of Canada		8		642
Northland Power, Inc.		6		115
Nutrien Ltd.		12		694
Onex Corp.		2		118
Open Text Corp.		7		284
Pan American Silver Corp.		9		148
Parkland Corp.		4		114
Pembina Pipeline Corp.		14		471
Power Corp. of Canada		14		410
Quebecor, Inc., Class B		4		92
Restaurant Brands International, Inc.		7		559
RioCan Real Estate Investment Trust		4		52
Rogers Communications, Inc., Class B		9		414
Royal Bank of Canada		35		3,514
Saputo, Inc.		6		128
Shopify, Inc., Class A (a)		30		2,333
Stantec, Inc.		3		221
Sun Life Financial, Inc.		15		758
Suncor Energy, Inc.		32		1,038
TC Energy Corp.		26		1,001
Teck Resources Ltd., Class B		11		485
TELUS Corp.		12		212
TFI International, Inc.		2		277
Thomson Reuters Corp.		4		580
TMX Group Ltd.		7		168
Toromont Industries Ltd.		2		179


SECURITY DESCRIPTION	SHARES		VALUE ($)

Canada — continued
Toronto-Dominion Bank (The)		45		2,928
Tourmaline Oil Corp.		8		362
West Fraser Timber Co. Ltd.		1		122
Wheaton Precious Metals Corp.		11		557
WSP Global, Inc.		3		435


				47,520

Chile — 0.1%
Antofagasta plc		290		6,192

China — 0.0% (g)
Silergy Corp.		46		747

Denmark — 6.2%
AP Moller - Maersk A/S, Class A		1		1,718
AP Moller - Maersk A/S, Class B		2		2,718
Carlsberg A/S, Class B		117		14,643
Chr Hansen Holding A/S		59		4,919
Coloplast A/S, Class B		2		233
Danske Bank A/S		249		6,663
Demant A/S (a)		1		65
DSV A/S		58		10,252
Genmab A/S (a)		22		6,885
Novo Nordisk A/S, Class B		2,119		219,566
Novozymes A/S, Class B		114		6,252
Orsted A/S (e)		76		4,191
Pandora A/S		30		4,200
ROCKWOOL A/S, Class B		3		856
Tryg A/S		224		4,879
Vestas Wind Systems A/S (a)		317		10,018


				298,058

Finland — 1.2%
Elisa OYJ		2		98
Fortum OYJ		179		2,583
Kesko OYJ, Class B		4		80
Kone OYJ, Class B		106		5,315
Metso OYJ		207		2,105
Neste OYJ		6		223
Nokia OYJ		81		275
Nordea Bank Abp		1,157		14,367
Orion OYJ, Class B		36		1,564
Sampo OYJ, Class A		290		12,711
Stora Enso OYJ, Class R		324		4,482
UPM-Kymmene OYJ		297		11,199
Wartsila OYJ Abp		150		2,177


				57,179

France — 13.0%
Accor SA		3		113
Aeroports de Paris SA		11		1,403
Air Liquide SA		291		56,703
Airbus SE		186		28,765
Alstom SA		90		1,215
Amundi SA (e)		22		1,513
Arkema SA		33		3,803


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
France — continued
AXA SA		1,159		37,839
BioMerieux		1		68
BNP Paribas SA		380		26,363
Bollore SE		11		68
Bouygues SA		60		2,278
Bureau Veritas SA		92		2,318
Capgemini SE		2		480
Carrefour SA		9		156
Cie de Saint-Gobain SA		143		10,557
Cie Generale des Etablissements Michelin SCA		10		360
Covivio SA		1		40
Credit Agricole SA		386		5,489
Danone SA		373		24,187
Dassault Aviation SA		6		1,283
Dassault Systemes SE		10		482
Edenred SE		90		5,397
Eiffage SA		23		2,503
Engie SA		734		12,930
EssilorLuxottica SA		4		880
Eurazeo SE		16		1,251
Gecina SA		1		83
Getlink SE		111		2,037
Hermes International SCA		11		24,190
Ipsen SA		13		1,509
Kering SA		27		11,851
Klepierre SA		3		87
La Francaise des Jeux SAEM (e)		2		57
Legrand SA		83		8,623
L’Oreal SA		4		1,781
LVMH Moet Hennessy Louis Vuitton SE		99		80,620
Orange SA		28		315
Pernod Ricard SA		242		42,823
Publicis Groupe SA		3		313
Remy Cointreau SA		27		3,485
Renault SA		3		117
Safran SA		108		18,996
Sanofi SA		384		38,130
Sartorius Stedim Biotech		— (h)		109
Schneider Electric SE		171		34,327
SEB SA		— (h)		46
Societe Generale SA		267		7,100
Sodexo SA		1		144
STMicroelectronics NV		546		27,407
Teleperformance SE		19		2,717
Thales SA		33		4,934
TotalEnergies SE		854		58,102
Unibail-Rodamco-Westfield (a)		2		130
Veolia Environnement SA		272		8,603
Vinci SA		159		20,011
Vivendi SE		10		106
Worldline SA (a) (e)		87		1,512


				628,709


SECURITY DESCRIPTION	SHARES		VALUE ($)

Germany — 12.2%
adidas AG		58		11,831
Allianz SE (Registered)		259		69,227
BASF SE		496		26,727
Bayer AG (Registered)		331		12,290
Bayerische Motoren Werke AG		5		528
Bechtle AG		1		61
Beiersdorf AG		1		224
Brenntag SE		44		4,028
Carl Zeiss Meditec AG		1		65
Commerzbank AG		381		4,528
Continental AG		2		139
Covestro AG (a) (e)		108		6,268
Daimler Truck Holding AG		168		6,308
Delivery Hero SE (a) (e)		3		72
Deutsche Bank AG (Registered)		701		9,564
Deutsche Boerse AG		69		14,141
Deutsche Lufthansa AG (Registered) (a)		188		1,667
Deutsche Post AG		311		15,389
Deutsche Telekom AG (Registered)		48		1,159
E.ON SE		899		12,080
Evonik Industries AG		130		2,647
Fresenius Medical Care AG		3		127
Fresenius SE & Co. KGaA		6		194
GEA Group AG		52		2,144
Hannover Rueck SE		39		9,259
Heidelberg Materials AG		78		6,945
HelloFresh SE (a)		2		36
Henkel AG & Co. KGaA		2		111
Infineon Technologies AG		1,044		43,610
KION Group AG		— (h)		— (h)
Knorr-Bremse AG		23		1,457
LEG Immobilien SE (a)		1		96
Mercedes-Benz Group AG		12		825
Merck KGaA		44		6,933
MTU Aero Engines AG		17		3,669
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		88		36,360
Nemetschek SE		71		6,097
Puma SE		38		2,110
Rational AG		2		1,227
Rheinmetall AG		14		4,352
RWE AG		253		11,514
SAP SE		1,277		196,541
Scout24 SE (e)		1		79
Siemens AG (Registered)		238		44,690
Siemens Energy AG (a)		162		2,142
Siemens Healthineers AG (e)		4		247
Symrise AG, Class A		74		8,112
Talanx AG		41		2,963
Volkswagen AG		— (h)		57
Vonovia SE		11		345
Wacker Chemie AG		10		1,280
Zalando SE (a) (e)		3		79


				592,544


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Hong Kong — 1.3%
AIA Group Ltd.		1,512		13,160
BOC Hong Kong Holdings Ltd.		503		1,366
Budweiser Brewing Co. APAC Ltd (e)		244		457
CK Asset Holdings Ltd.		260		1,305
CK Hutchison Holdings Ltd.		355		1,905
CK Infrastructure Holdings Ltd.		83		457
CLP Holdings Ltd.		217		1,789
ESR Group Ltd. (e)		298		413
Futu Holdings Ltd., ADR (a)		8		410
Galaxy Entertainment Group Ltd.		295		1,652
Hang Lung Properties Ltd.		248		345
Hang Seng Bank Ltd.		105		1,231
Henderson Land Development Co. Ltd.		191		588
HKT Trust & HKT Ltd.		490		585
Hong Kong & China Gas Co. Ltd.		1,471		1,128
Hong Kong Exchanges & Clearing Ltd.		140		4,809
Hongkong Land Holdings Ltd.		142		493
Jardine Matheson Holdings Ltd.		21		873
Link REIT		340		1,908
MTR Corp. Ltd.		220		852
New World Development Co. Ltd.		209		324
Power Assets Holdings Ltd.		182		1,055
Prudential plc		1,768		19,953
Sino Land Co. Ltd.		496		539
SITC International Holdings Co. Ltd.		185		319
Sun Hung Kai Properties Ltd.		191		2,067
Swire Pacific Ltd., Class A		57		478
Swire Properties Ltd.		163		330
Techtronic Industries Co. Ltd.		180		2,139
WH Group Ltd. (e)		1,106		714
Wharf Holdings Ltd. (The)		140		451
Wharf Real Estate Investment Co. Ltd.		225		761
Xinyi Glass Holdings Ltd.		250		281


				65,137

Ireland — 1.5%
AerCap Holdings NV (a)		63		4,688
AIB Group plc		568		2,432
Bank of Ireland Group plc		382		3,465
CRH plc		393		27,071
DCC plc		31		2,274
Experian plc		288		11,756
Flutter Entertainment plc (a)		3		461
James Hardie Industries plc (a)		58		2,230
Kerry Group plc, Class A		92		7,998
Kingspan Group plc		48		4,186
Smurfit Kappa Group plc		145		5,739


				72,300

Italy — 2.6%
Amplifon SpA		2		64
Assicurazioni Generali SpA		651		13,749
Banco BPM SpA		438		2,321
Bio On Spa (a) (bb) (cc)		1		—


SECURITY DESCRIPTION	SHARES		VALUE ($)

Italy — continued
Davide Campari-Milano NV		619		6,995
DiaSorin SpA		— (h)		34
Enel SpA		3,253		24,202
Eni SpA		881		14,946
Ferrari NV		2		626
FinecoBank Banca Fineco SpA		221		3,320
Infrastrutture Wireless Italiane SpA (e)		5		63
Intesa Sanpaolo SpA		5,616		16,435
Leonardo SpA		91		1,499
Mediobanca Banca di Credito Finanziario SpA		199		2,471
Moncler SpA		74		4,557
Nexi SpA (a) (e)		213		1,749
Poste Italiane SpA (e)		336		3,814
Prysmian SpA		83		3,805
Recordati Industria Chimica e Farmaceutica SpA		35		1,906
Snam SpA		858		4,416
Telecom Italia SpA (a)		148		48
Terna - Rete Elettrica Nazionale		569		4,750
UniCredit SpA		580		15,806


				127,576

Japan — 7.0%
Advantest Corp.		72		2,426
Aeon Co. Ltd.		62		1,372
AGC, Inc.		18		667
Aisin Corp.		14		485
Ajinomoto Co., Inc.		42		1,601
ANA Holdings, Inc. (a)		15		327
Asahi Group Holdings Ltd.		45		1,683
Asahi Intecc Co. Ltd.		20		410
Asahi Kasei Corp.		118		872
Astellas Pharma, Inc.		170		2,018
Azbil Corp.		11		359
Bandai Namco Holdings, Inc.		56		1,120
BayCurrent Consulting, Inc.		12		431
Bridgestone Corp.		54		2,222
Brother Industries Ltd.		22		349
Canon, Inc.		94		2,399
Capcom Co. Ltd.		16		516
Central Japan Railway Co.		68		1,716
Chiba Bank Ltd. (The)		49		356
Chubu Electric Power Co., Inc.		61		788
Chugai Pharmaceutical Co. Ltd.		63		2,372
Concordia Financial Group Ltd.		101		459
Dai Nippon Printing Co. Ltd.		19		558
Daifuku Co. Ltd.		28		573
Dai-ichi Life Holdings, Inc.		88		1,875
Daiichi Sankyo Co. Ltd.		173		4,747
Daikin Industries Ltd.		25		4,007
Daito Trust Construction Co. Ltd.		6		671
Daiwa House Industry Co. Ltd.		56		1,684
Daiwa House REIT Investment Corp., Class A		— (h)		394


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Japan — continued
Daiwa Securities Group, Inc.		125		842
Denso Corp.		178		2,666
Dentsu Group, Inc.		19		492
Disco Corp.		9		2,124
East Japan Railway Co.		28		1,635
Eisai Co. Ltd.		24		1,175
ENEOS Holdings, Inc.		269		1,068
FANUC Corp.		89		2,612
Fast Retailing Co. Ltd.		16		4,055
Fuji Electric Co. Ltd.		12		514
FUJIFILM Holdings Corp.		35		2,092
Fujitsu Ltd.		17		2,483
GLP J-Reit		— (h)		430
Hamamatsu Photonics KK		13		542
Hankyu Hanshin Holdings, Inc.		22		690
Hikari Tsushin, Inc.		2		331
Hirose Electric Co. Ltd.		3		339
Hitachi Construction Machinery Co. Ltd.		10		258
Hitachi Ltd.		87		6,251
Honda Motor Co. Ltd.		433		4,468
Hoshizaki Corp.		10		380
Hoya Corp.		33		4,135
Hulic Co. Ltd.		36		379
Ibiden Co. Ltd.		11		590
Idemitsu Kosan Co. Ltd.		90		489
Iida Group Holdings Co. Ltd.		14		215
Inpex Corp.		90		1,210
Isuzu Motors Ltd.		55		708
ITOCHU Corp.		111		4,538
Japan Airlines Co. Ltd.		13		257
Japan Exchange Group, Inc.		47		996
Japan Metropolitan Fund Invest		1		464
Japan Post Bank Co. Ltd.		136		1,388
Japan Post Holdings Co. Ltd.		196		1,745
Japan Post Insurance Co. Ltd.		18		325
Japan Real Estate Investment Corp.		— (h)		496
Japan Tobacco, Inc.		113		2,910
JFE Holdings, Inc.		54		842
JSR Corp.		17		478
Kajima Corp.		39		654
Kansai Electric Power Co., Inc. (The)		66		879
KAO Corp.		44		1,805
Kawasaki Kisen Kaisha Ltd.		13		544
KDDI Corp.		140		4,450
KDX Realty Investment Corp., Class A		— (h)		435
Keisei Electric Railway Co. Ltd.		12		580
Keyence Corp.		18		7,996
Kikkoman Corp.		13		782
Kintetsu Group Holdings Co. Ltd.		17		545
Kirin Holdings Co. Ltd.		73		1,064
Kobe Bussan Co. Ltd.		14		414
Koei Tecmo Holdings Co. Ltd.		11		129
Koito Manufacturing Co. Ltd.		18		275
Komatsu Ltd.		87		2,267


SECURITY DESCRIPTION	SHARES		VALUE ($)

Japan — continued
Konami Group Corp.		9		486
Kose Corp.		3		224
Kubota Corp.		94		1,417
Kyocera Corp.		121		1,759
Kyowa Kirin Co. Ltd.		26		435
Lasertec Corp.		7		1,864
LY Corp.		251		888
M3, Inc.		41		675
Makita Corp.		21		578
Marubeni Corp.		135		2,124
MatsukiyoCocokara & Co.		32		566
Mazda Motor Corp.		53		565
McDonald’s Holdings Co. Japan Ltd.		8		355
MEIJI Holdings Co. Ltd.		22		523
MINEBEA MITSUMI, Inc.		34		690
MISUMI Group, Inc.		26		444
Mitsubishi Chemical Group Corp.		121		740
Mitsubishi Corp.		323		5,152
Mitsubishi Electric Corp.		182		2,567
Mitsubishi Estate Co. Ltd.		106		1,452
Mitsubishi HC Capital, Inc.		75		505
Mitsubishi Heavy Industries Ltd.		30		1,753
Mitsubishi UFJ Financial Group, Inc.		1,071		9,188
Mitsui & Co. Ltd.		121		4,544
Mitsui Chemicals, Inc.		16		464
Mitsui Fudosan Co. Ltd.		83		2,037
Mitsui OSK Lines Ltd.		32		1,033
Mizuho Financial Group, Inc.		226		3,858
MonotaRO Co. Ltd.		23		252
MS&AD Insurance Group Holdings, Inc.		40		1,588
Murata Manufacturing Co. Ltd.		162		3,415
NEC Corp.		23		1,365
Nexon Co. Ltd.		32		577
NIDEC Corp.		39		1,580
Nintendo Co. Ltd.		97		5,068
Nippon Building Fund, Inc.		— (h)		615
NIPPON EXPRESS HOLDINGS, Inc.		7		386
Nippon Paint Holdings Co. Ltd.		90		722
Nippon Prologis REIT, Inc.		— (h)		406
Nippon Sanso Holdings Corp.		16		427
Nippon Steel Corp.		80		1,830
Nippon Telegraph & Telephone Corp.		2,802		3,421
Nippon Yusen KK		46		1,411
Nissan Chemical Corp.		12		456
Nissan Motor Co. Ltd.		218		853
Nissin Foods Holdings Co. Ltd.		19		656
Nitori Holdings Co. Ltd.		8		1,020
Nitto Denko Corp.		14		1,015
Nomura Holdings, Inc.		283		1,276
Nomura Real Estate Holdings, Inc.		10		262
Nomura Real Estate Master Fund, Inc.		— (h)		467
Nomura Research Institute Ltd.		36		1,046
NTT Data Group Corp.		60		841
Obayashi Corp.		61		524


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Japan — continued
Obic Co. Ltd.		7		1,118
Odakyu Electric Railway Co. Ltd.		29		439
Oji Holdings Corp.		81		313
Olympus Corp.		112		1,618
Omron Corp.		17		768
Ono Pharmaceutical Co. Ltd.		36		642
Open House Group Co. Ltd.		7		213
Oracle Corp. Japan		4		277
Oriental Land Co. Ltd.		102		3,802
ORIX Corp.		110		2,058
Osaka Gas Co. Ltd.		35		724
Otsuka Corp.		11		432
Otsuka Holdings Co. Ltd.		39		1,473
Pan Pacific International Holdings Corp.		36		857
Panasonic Holdings Corp.		207		2,039
Rakuten Group, Inc.		139		621
Recruit Holdings Co. Ltd.		135		5,653
Renesas Electronics Corp. (a)		137		2,455
Resona Holdings, Inc.		199		1,009
Ricoh Co. Ltd.		53		402
Rohm Co. Ltd.		31		596
SBI Holdings, Inc.		23		518
SCSK Corp.		15		297
Secom Co. Ltd.		20		1,410
Seiko Epson Corp.		27		399
Sekisui Chemical Co. Ltd.		36		516
Sekisui House Ltd.		56		1,232
Seven & i Holdings Co. Ltd.		70		2,784
SG Holdings Co. Ltd.		30		426
Sharp Corp		25		174
Shimadzu Corp.		22		613
Shimano, Inc.		7		1,109
Shimizu Corp.		50		330
Shin-Etsu Chemical Co. Ltd.		171		7,143
Shionogi & Co. Ltd.		24		1,174
Shiseido Co. Ltd.		37		1,124
Shizuoka Financial Group, Inc.		44		371
SMC Corp.		5		2,889
SoftBank Corp.		270		3,360
SoftBank Group Corp.		97		4,259
Sompo Holdings, Inc.		28		1,346
Sony Group Corp.		118		11,186
Square Enix Holdings Co. Ltd.		8		298
Subaru Corp.		57		1,047
SUMCO Corp.		33		498
Sumitomo Chemical Co. Ltd.		132		320
Sumitomo Corp.		97		2,115
Sumitomo Electric Industries Ltd.		67		855
Sumitomo Metal Mining Co. Ltd.		23		695
Sumitomo Mitsui Financial Group, Inc.		119		5,795
Sumitomo Mitsui Trust Holdings, Inc.		61		1,172
Sumitomo Realty & Development Co. Ltd.		27		800
Suntory Beverage & Food Ltd.		13		431
Suzuki Motor Corp.		35		1,483


SECURITY DESCRIPTION	SHARES		VALUE ($)

Japan — continued
Sysmex Corp.		16		884
T&D Holdings, Inc.		46		735
Taisei Corp.		16		543
Takeda Pharmaceutical Co. Ltd.		148		4,256
TDK Corp.		37		1,731
Terumo Corp.		63		2,060
TIS, Inc.		20		446
Tobu Railway Co. Ltd.		18		469
Toho Co. Ltd.		11		358
Tokio Marine Holdings, Inc.		169		4,208
Tokyo Electric Power Co. Holdings, Inc. (a)		141		739
Tokyo Electron Ltd.		44		7,856
Tokyo Gas Co. Ltd.		35		801
Tokyu Corp.		47		569
TOPPAN Holdings, Inc.		23		638
Toray Industries, Inc.		129		666
Tosoh Corp.		25		314
TOTO Ltd.		13		331
Toyota Industries Corp.		14		1,130
Toyota Motor Corp.		994		18,217
Toyota Tsusho Corp.		20		1,179
Trend Micro, Inc.		12		662
Unicharm Corp.		38		1,360
USS Co. Ltd.		19		389
West Japan Railway Co.		20		850
Yakult Honsha Co. Ltd.		24		539
Yamaha Corp.		13		293
Yamaha Motor Co. Ltd.		83		737
Yamato Holdings Co. Ltd.		25		452
Yaskawa Electric Corp.		23		945
Yokogawa Electric Corp.		21		405
Zensho Holdings Co. Ltd.		9		450
ZOZO, Inc.		14		305


				339,448

Jordan — 0.0% (g)
Hikma Pharmaceuticals plc		56		1,274

Luxembourg — 0.2%
ArcelorMittal SA		376		10,664
Eurofins Scientific SE		2		131
Tenaris SA		7		122


				10,917

Macau — 0.0% (g)
Sands China Ltd. (a)		318		931


Netherlands — 8.4%
ABN AMRO Bank NV, CVA GDR (e)		172		2,587
Adyen NV (a) (e)		8		10,133
Aegon Ltd.		1,043		6,064
Akzo Nobel NV		95		7,855
Argenx SE (a)		1		335
ASM International NV		37		19,423
ASML Holding NV		322		243,225


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Netherlands — continued
ASR Nederland NV		102		4,809
BE Semiconductor Industries NV		62		9,304
Euronext NV (e)		31		2,690
EXOR NV		34		3,386
Heineken Holding NV		154		13,005
Heineken NV		341		34,677
IMCD NV		18		3,106
ING Groep NV		1,308		19,613
JDE Peet’s NV		57		1,521
Koninklijke Ahold Delhaize NV		14		415
Koninklijke KPN NV		52		179
Koninklijke Philips NV		12		271
NN Group NV		174		6,872
OCI NV		59		1,700
Prosus NV (a)		22		648
QIAGEN NV (a)		3		147
Randstad NV		35		2,183
Stellantis NV		33		769
Universal Music Group NV		12		343
Wolters Kluwer NV		78		11,088


				406,348

New Zealand — 0.1%
Auckland International Airport Ltd.		170		948
Fisher & Paykel Healthcare Corp. Ltd.		77		1,154
Mercury NZ Ltd.		92		383
Meridian Energy Ltd.		171		599
Spark New Zealand Ltd.		244		798
Xero Ltd. (a)		19		1,449


				5,331

Norway — 0.9%
Adevinta ASA, Class B (a)		5		57
Aker BP ASA		5		136
DNB Bank ASA		335		7,113
Equinor ASA		336		10,649
Gjensidige Forsikring ASA		128		2,371
Kongsberg Gruppen ASA		29		1,322
Mowi ASA		270		4,828
Norsk Hydro ASA		974		6,549
Orkla ASA		406		3,154
Salmar ASA		42		2,354
Telenor ASA		9		107
Yara International ASA		92		3,271


				41,911

Portugal — 0.2%
EDP - Energias de Portugal SA		1,273		6,405
Galp Energia SGPS SA		170		2,499
Jeronimo Martins SGPS SA		4		107


				9,011

Singapore — 0.6%
CapitaLand Ascendas REIT		489		1,121
CapitaLand Integrated Commercial Trust		696		1,085
CapitaLand Investment Ltd.		343		820


SECURITY DESCRIPTION	SHARES		VALUE ($)

Singapore — continued
City Developments Ltd.		61		308
DBS Group Holdings Ltd.		238		6,006
Genting Singapore Ltd.		806		611
Grab Holdings Ltd., Class A (a)		256		861
Jardine Cycle & Carriage Ltd.		12		277
Keppel Corp. Ltd.		192		1,027
Mapletree Logistics Trust		448		590
Mapletree Pan Asia Commercial Trust		302		359
Oversea-Chinese Banking Corp. Ltd.		444		4,369
Sea Ltd., ADR (a)		48		1,954
Seatrium Ltd. (a)		5,850		522
Sembcorp Industries Ltd.		120		484
Singapore Airlines Ltd.		196		975
Singapore Exchange Ltd.		106		789
Singapore Technologies Engineering Ltd.		199		585
Singapore Telecommunications Ltd.		1,089		2,038
United Overseas Bank Ltd.		166		3,579
UOL Group Ltd.		63		300
Wilmar International Ltd.		260		702


				29,362

Spain — 2.4%
Acciona SA		10		1,499
ACS Actividades de Construccion y Servicios SA		67		2,959
Aena SME SA (e)		24		4,299
Amadeus IT Group SA		7		479
Banco Bilbao Vizcaya Argentaria SA		2,156		19,652
Banco Santander SA		5,849		24,466
CaixaBank SA		1,491		6,140
Cellnex Telecom SA (e)		8		329
Corp. ACCIONA Energias Renovables SA		27		847
EDP Renovaveis SA		122		2,493
Enagas SA		62		1,039
Endesa SA		137		2,800
Ferrovial SE		162		5,903
Grifols SA (a)		4		76
Iberdrola SA		2,431		31,890
Industria de Diseno Textil SA		16		712
Naturgy Energy Group SA		57		1,706
Redeia Corp. SA		126		2,071
Repsol SA		477		7,080
Telefonica SA		72		283


				116,723

Sweden — 2.9%
Alfa Laval AB		91		3,645
Assa Abloy AB, Class B		313		9,039
Atlas Copco AB, Class A		843		14,546
Atlas Copco AB, Class B		486		7,228
Beijer Ref AB, Class B		120		1,613
Boliden AB		201		6,284
Epiroc AB, Class A		207		4,171
Epiroc AB, Class B		120		2,114
EQT AB		129		3,639


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
Sweden — continued
Essity AB, Class B		9		224
Evolution AB (e)		3		328
Fastighets AB Balder, Class B (a)		10		69
Getinge AB, Class B		3		76
H & M Hennes & Mauritz AB, Class B		10		168
Hexagon AB, Class B		31		375
Holmen AB, Class B		42		1,792
Husqvarna AB, Class B		109		901
Industrivarden AB, Class A		47		1,536
Industrivarden AB, Class C		53		1,726
Indutrade AB		86		2,239
Investment AB Latour, Class B		46		1,202
Investor AB, Class B		626		14,504
L E Lundbergforetagen AB, Class B		27		1,496
Lifco AB, Class B		72		1,782
Nibe Industrier AB, Class B		475		3,336
Saab AB, Class B		25		1,526
Sagax AB, Class B		3		81
Sandvik AB		334		7,249
Securitas AB, Class B		156		1,538
Skandinaviska Enskilda Banken AB, Class A		574		7,935
Skanska AB, Class B		107		1,952
SKF AB, Class B		107		2,158
Svenska Cellulosa AB SCA, Class B		337		5,049
Svenska Handelsbanken AB, Class A		527		5,729
Swedbank AB, Class A		307		6,204
Swedish Orphan Biovitrum AB (a)		3		76
Tele2 AB, Class B		8		68
Telefonaktiebolaget LM Ericsson, Class B		43		274
Telia Co. AB		35		89
Volvo AB, Class A		62		1,631
Volvo AB, Class B		475		12,344
Volvo Car AB, Class B (a)		9		29


				137,965

Switzerland — 15.2%
ABB Ltd. (Registered)		501		22,252
Adecco Group AG (Registered)		51		2,485
Alcon, Inc.		7		581
Avolta AG (a)		1		57
Bachem Holding AG, Class B		1		39
Baloise Holding AG (Registered)		29		4,611
Banque Cantonale Vaudoise (Registered)		11		1,404
Barry Callebaut AG (Registered)		2		3,770
BKW AG		8		1,503
Chocoladefabriken Lindt & Spruengli AG		1		7,142
Chocoladefabriken Lindt & Spruengli AG (Registered)		— (h)		8,735
Cie Financiere Richemont SA, Class A (Registered)		188		25,906
Clariant AG (Registered) (a)		120		1,773
Coca-Cola HBC AG (a)		262		7,689
DSM-Firmenich AG		103		10,521


SECURITY DESCRIPTION	SHARES		VALUE ($)

Switzerland — continued
EMS-Chemie Holding AG (Registered)		4		3,163
Geberit AG (Registered)		10		6,711
Givaudan SA (Registered)		5		21,298
Glencore plc		7,687		46,209
Helvetia Holding AG (Registered)		24		3,287
Holcim AG (a)		290		22,764
Julius Baer Group Ltd.		74		4,176
Kuehne + Nagel International AG (Registered)		17		5,892
Logitech International SA (Registered)		2		232
Lonza Group AG (Registered)		1		470
Nestle SA (Registered)		1,670		193,586
Novartis AG (Registered)		691		69,793
Partners Group Holding AG		8		11,863
Roche Holding AG		248		72,202
Sandoz Group AG (a)		138		4,440
Schindler Holding AG		13		3,204
Schindler Holding AG (Registered)		7		1,723
SGS SA (Registered)		47		4,048
SIG Group AG (a)		170		3,917
Sika AG (Registered)		85		27,643
Sonova Holding AG (Registered)		1		243
Straumann Holding AG (Registered)		2		267
Swatch Group AG (The)		10		2,829
Swatch Group AG (The) (Registered)		19		985
Swiss Life Holding AG (Registered)		19		13,175
Swiss Prime Site AG (Registered)		1		122
Swiss Re AG		194		21,802
Swisscom AG (Registered)		— (h)		231
Temenos AG (Registered)		1		88
UBS Group AG (Registered)		1,188		36,914
VAT Group AG (e)		8		4,255
Zurich Insurance Group AG		94		49,145


				735,145

Taiwan — 1.8%
Alchip Technologies Ltd.		11		1,120
ASE Technology Holding Co. Ltd.		431		1,889
eMemory Technology, Inc.		9		716
Global Unichip Corp.		13		735
Globalwafers Co. Ltd.		31		592
MediaTek, Inc.		215		7,099
Nanya Technology Corp.		174		441
Novatek Microelectronics Corp.		81		1,362
Powerchip Semiconductor Manufacturing Corp.		431		413
Realtek Semiconductor Corp.		68		1,043
Taiwan Semiconductor Manufacturing Co. Ltd.		3,483		66,774
United Microelectronics Corp.		1,591		2,711
Vanguard International Semiconductor Corp.		127		337
Winbond Electronics Corp.		443		438


				85,670


SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — continued
United Arab Emirates — 0.0%
NMC Health plc (a) (bb) (cc)		16		—

United Kingdom — 14.2%
3i Group plc		352		10,823
abrdn plc		682		1,549
Admiral Group plc		167		5,717
Anglo American plc		933		23,351
Ashtead Group plc		137		9,538
Associated British Foods plc		199		6,012
AstraZeneca plc		522		70,472
Auto Trader Group plc (e)		14		125
Aviva plc		1,759		9,732
BAE Systems plc		957		13,539
Barclays plc		5,460		10,692
Barratt Developments plc		14		104
Berkeley Group Holdings plc		2		94
BP plc		6,363		37,720
British American Tobacco plc		32		925
BT Group plc, Class A		96		151
Bunzl plc		106		4,299
Burberry Group plc		131		2,356
Centrica plc		81		146
Coca-Cola Europacific Partners plc		245		16,330
Compass Group plc		25		696
Croda International plc		78		4,995
Diageo plc		2,664		96,684
Endeavour Mining plc		136		3,034
Entain plc		9		119
GSK plc		1,380		25,496
Haleon plc		82		334
Halma plc		6		163
Hargreaves Lansdown plc		129		1,202
HSBC Holdings plc		7,041		56,964
Imperial Brands plc		13		290
Informa plc		21		204
InterContinental Hotels Group plc		2		218
Intertek Group plc		50		2,712
J Sainsbury plc		25		95
JD Sports Fashion plc		38		81
Kingfisher plc		28		87
Land Securities Group plc		10		94
Legal & General Group plc		3,839		12,270
Lloyds Banking Group plc		22,956		13,923
London Stock Exchange Group plc		151		17,791
M&G plc		810		2,294
Melrose Industries plc		421		3,046
Mondi plc		270		5,282
National Grid plc		55		744
NatWest Group plc		2,081		5,797
Next plc		2		182
Ocado Group plc (a)		9		83
Pearson plc		9		116
Persimmon plc		5		84
Phoenix Group Holdings plc		482		3,285
Reckitt Benckiser Group plc		11		738


SECURITY DESCRIPTION	SHARES		VALUE ($)

United Kingdom — continued
RELX plc		592		23,476
Rentokil Initial plc		791		4,456
Rio Tinto plc		827		61,508
Rolls-Royce Holdings plc (a)		2,642		10,078
Sage Group plc (The)		15		227
Schroders plc		291		1,593
Segro plc		17		195
Severn Trent plc		4		131
Shell plc		2,467		80,758
Smith & Nephew plc		13		178
Smiths Group plc		108		2,433
Spirax-Sarco Engineering plc		23		3,058
SSE plc		16		381
St James’s Place plc		198		1,725
Standard Chartered plc		828		7,025
Taylor Wimpey plc		52		98
Tesco plc		105		390
Unilever plc		37		1,795
United Utilities Group plc		10		137
Vodafone Group plc		339		296
Whitbread plc		3		133
Wise plc, Class A (a)		222		2,471
WPP plc		16		152


				685,472

United States — 0.0% (g)
Brookfield Renewable Corp., Class A		3		98
Parade Technologies Ltd.		11		429
RB Global, Inc.		5		303


				830

Total Common Stocks (Cost $4,028,831)				4,768,716

Preferred Stocks — 0.0% (g)
Germany — 0.0% (g)
Bayerische Motoren Werke AG		1		87
Dr Ing hc F Porsche AG (e)		2		153
Henkel AG & Co. KGaA		3		202
Porsche Automobil Holding SE		2		116
Sartorius AG		— (h)		143
Volkswagen AG		3		381

Total Preferred Stocks (Cost $979)				1,082


	NUMBER OF WARRANTS
Warrant — 0.0%
Canada — 0.0%
Constellation Software, Inc. (Canada), expiring 03/31/2040 (a) (bb) (cc) (Cost $ —)		— (h)		—


	PRINCIPAL AMOUNT ($)		VALUE ($)
Short-Term Investments — 1.6%
Time Deposits — 1.6%
Australia & New Zealand Banking Group Ltd.,
2.77%, 01/02/2024	AUD	2,193		1,494
3.06%, 01/03/2024	NZD	65		41
4.68%, 01/02/2024		898		898
BNP Paribas SA, 0.55%, 01/03/2024	CHF	3,035		3,609
Brown Brothers Harriman,
0.55%, 01/03/2024	CHF	1,076		1,279
2.13%, 01/02/2024	DKK	9,606		1,423
2.45%, 01/02/2024	SGD	323		245
3.19%, 01/02/2024	NOK	1,753		172
4.16%, 01/02/2024	GBP	5,186		6,611
4.25%, 01/02/2024	HKD	3,266		418
Citibank NA,
2.71%, 01/02/2024	EUR	1,547		1,708
4.68%, 01/02/2024		16,453		16,453


	PRINCIPAL AMOUNT ($)		VALUE ($)
Royal Bank of Canada,
2.71%, 01/02/2024	EUR	15,696		17,327
3.79%, 01/02/2024	CAD	862		651
4.16%, 01/02/2024	GBP	3,796		4,838
4.68%, 01/02/2024		9,483		9,483
Skandinaviska Enskilda Banken AB, (1.49%), 01/02/2024	SEK	2,708		269
Sumitomo Mitsui Banking Corp.,
(0.34%), 01/04/2024	JPY	557,483		3,954
4.68%, 01/02/2024		2,820		2,820
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 01/02/2024		5,744		5,744

Total Short-Term Investments (Cost $79,437)				79,437


Total Investments — 100.1% (Cost — $4,109,247)				4,849,235

Liabilities in Excess of Other Assets — (0.1)%				(6,948)


NET ASSETS — 100.0%				$4,842,287

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF DECEMBER 31, 2023


ADR		— American Depositary Receipt
GDR		— Global Depositary Receipt
CVA		— Dutch Certification
OYJ		— Public Limited Company
REIT		— Real Estate Investment Trust
(a)		— Non-income producing security.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
AUD		— Australian Dollar
CAD		— Canadian Dollar
CHF		— Swiss Franc
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
HKD		— Hong Kong dollar
JPY		— Japanese Yen
NOK		— Norwegian Krone
NZD		— New Zealand Dollar
SEK		— Swedish Krona
SGD		— Singapore Dollar
USD		— United States Dollar

Summary of Investments by Industry, December 31, 2023

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE
Pharmaceuticals		11.3	%
Banks		9.5	%
Semiconductors		9.2	%
Insurance		8.1	%
Beverages		6.4	%
Food		5.7	%
Oil & Gas		4.8	%
Software		4.3	%
Chemicals		4.1	%
Mining		3.9	%
Electric		2.8	%
Apparel		2.7	%
Building Materials		2.6	%
Commercial Services		2.1	%
Aerospace/Defense		1.9	%
Diversified Financial Services		1.3	%
Retail		1.3	%
Transportation		1.2	%
Miscellaneous Manufacturers		1.2	%
Machinery — Diversified		1.1	%
Auto Manufacturers		1.1	%
Others (Each less than 1.0%)		11.8	%
Short-Term Investments		1.6	%

Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund are two separate series of the Trust (each, a “Fund” and collectively, the “Funds”) covered by this report. The Funds are classified as “non-diversified” funds. Each Fund currently offers one class of shares. The Funds commenced operations on April 10, 2019.

The investment objective of each of the Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund is to provide capital appreciation.

A market-based approach is primarily used to value the Funds’ investments for which market quotations are readily available and which are generally valued at their current market value. Other securities and assets, including securities for which market quotations are not readily available, market quotations are determined not to be reliable, or whose value has been materially affected by events occurring after the close of trading on the exchange or market on which the security is principally traded but before a Fund’s net asset value (“NAV”) is calculated, are valued by approved pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”) or may be internally fair valued using methods set forth by the valuation policies approved by the Board. The valuation may include related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment in order to determine the fair value of the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based on current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used, had a ready market for the investments existed, and such differences could be material.

Foreign equity securities are valued as of the close of trading on the stock exchange on which the security is primarily traded, or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. Eastern time on the day that the value of the security is determined. Generally, foreign equity securities, as well as certain derivatives with equity reference obligations, are valued by applying international fair value factors provided by approved Pricing Services.

instruments. In instances where sufficient market activity may not exist, Pricing Services may consider a variety of inputs and factors, including, but not limited to proprietary models that may take into account market transactions in securities with comparable characteristics, yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, underlying collateral and estimated cash flows.

Exchange-traded futures contracts are generally valued on the basis of available market quotations. Forward foreign currency exchange contracts are valued utilizing market quotations from approved Pricing Services.

The various inputs that are used in determining the valuation of the Funds’ investments are summarized into the three broad levels listed below.

The following tables represent each valuation input as presented on the Schedules of Portfolio Investments (“SOIs”) (amounts in thousands):

There were no significant transfers into or out of level 3 for the year ended December 31, 2023 for the Funds.

As of December 31, 2023, the Funds had no investments in restricted securities other than securities sold to the Funds under Rule 144A or Regulation S under the Securities Act.

C. Derivatives — The Funds used derivative instruments including futures, in connection with their respective investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures as well as credit and spread volatility.

terms; liquidity risk related to the lack of a liquid market for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Funds’ risk of loss associated with these instruments may exceed their value, as recorded on the Statements of Assets and Liabilities.

Counterparty credit risk may be mitigated to the extent a counterparty posts collateral for mark-to-market gains to the Fund.

(1) Futures Contracts — The Funds used index futures to gain or reduce exposure to certain countries or regions, to maintain liquidity or minimize transaction costs.

Futures contracts may provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Funds are required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Change in net unrealized appreciation/depreciation on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the SOIs and cash deposited is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities. Futures contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The use of futures contracts may expose the Funds to equity price risk. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Funds to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Funds to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent the liquidation of positions.

The Funds’ futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

(2) Forward Foreign Currency Exchange Contracts — The Funds may be exposed to foreign currency risks associated with some or all of the portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. The Funds also bought forward foreign currency exchange contracts to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. Dollars without the delivery of foreign currency. Forward contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The following tables present the value of derivatives held as of December 31, 2023 by their primary underlying risk exposure and respective location on the Statements of Assets and Liabilities (amounts in thousands):

The following tables present the effect of derivatives on the Statements of Operations for the year ended December 31, 2023 by primary underlying risk exposure (amounts in thousands):

The table below discloses the volume of the Funds’ futures contracts and forward foreign currency exchange contracts activity during the year ended December 31, 2023 (amounts in thousands, except number of contracts). Please refer to the tables in the Summary of Derivative Information for derivative-related gains and losses associated with volume activity (amounts in thousands).

D. Foreign Currency Translation — The books and records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the prevailing exchange rates of such currencies against the U.S. dollar. The market value of investment securities and other assets and liabilities are translated at the exchange rate as of the valuation date. Purchases and sales of investment securities, income and expenses are translated at the exchange rate prevailing on the respective dates of such transactions.

Reported realized foreign currency gains and losses arise from the disposition of foreign currency. Currency gains or losses may be realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on each Fund’s books on the transaction date and the U.S. dollar equivalent of the amounts actually received or paid. These reported realized foreign currency gains and losses are included in Net realized gain (loss) on foreign currency transactions on the Statements of Operations. Unrealized foreign currency gains and losses arise from changes (due to changes in exchange rates) in the value of foreign currency and other assets and liabilities denominated in foreign currencies, which are held at period end and are included in Change in net unrealized appreciation/depreciation on foreign currency translations on the Statements of Operations.

E. Security Transactions, Investment Income and Expense Allocation — Securities transactions are recorded on a trade date basis. Realized gain and loss from securities transactions are recorded on an identified cost basis for financial reporting and federal income tax purposes. Interest income is determined on the basis of coupon interest accrued using the effective interest method which adjusts for amortization of premiums and accretion of discounts. Dividend income, net of foreign taxes withheld, if any, is recorded on the ex-dividend date or when the Fund first learns of the dividend. Non-cash dividends, if any, are recorded on the ex-dividend date or corporate action date at fair value. Distributions received from certain investments held by the Funds may be comprised of dividends, realized gains and returns of capital. The Funds originally estimate the expected classification of such payments. The amounts may subsequently be reclassified upon receipt of information from the issuer.

F. Federal Income Tax — Each Fund is treated as a separate taxable entity for Federal income tax purposes. Each Fund’s policy is to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to regulated investment companies. Each Fund intends to distribute to shareholders, substantially all of its distributable net investment income and net realized capital gains on investments. Accordingly, no provision for Federal income tax is necessary.

The Funds follow the provisions of FASB Codification Section 740 (“ASC Section 740”) “Accounting for Uncertainty in Income Taxes” which clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return. ASC Section 740 sets forth a threshold for financial statement recognition, measurement and disclosure of tax positions taken or expected to be taken on a tax return. The Funds are required to recognize the tax effects of certain tax positions under a “more likely than not” standard, that based on their technical merits, have more than 50 percent likelihood of being sustained upon examination. Management has analyzed the tax positions taken on the Funds’ federal income tax returns for all open periods, and has concluded that no provision for federal income tax is required in the Funds’ financial statements. At December 31, 2023, the Funds did not have any uncertain tax benefits that require recognition, de-recognition or disclosure. The Funds’ federal, state and local income and federal excise tax returns for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

G. Foreign Tax — The Funds may be subject to foreign taxes on income, gains on investments or currency purchases/repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests. When capital gain tax is determined to apply, the Funds record an estimated deferred tax liability in an amount that would be payable if the securities were disposed of on the valuation date.

H. Distributions to Shareholders — Distributions to shareholders are recorded on the ex-dividend date. Distributions from net investment income and net realized capital gains are generally declared and paid according to the following schedule:

Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes. These differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes. As a result, income dividends and capital gain distributions declared during a fiscal period may differ significantly from the net investment income (loss) and realized gain (loss) reported on the Fund financial statements presented under GAAP.

Distributions classified as a tax basis return of capital, if any, are reflected on the Statement of Changes in Net Assets and have been recorded to paid-in capital.

The Adviser engaged Russell Investments Implementation Services, LLC (“Russell”) to provide stand-by interim sub-advisory services, as well as transition management services, for each Fund, to be utilized as needed in certain transitional circumstances involving a Fund Sub-Adviser. During the reporting period, the Funds have not allocated assets to Russell.

The Adviser waived Investment Advisory fees and/or reimbursed expenses as outlined in Note 3F and reflected on the Statement of Operations.

F. Waivers and Reimbursements — The Adviser has contractually agreed through at least April 30, 2024, to waive any management fees that exceed the aggregate management fees the Adviser is contractually required to pay the Fund’s Sub-Adviser. Thereafter, this waiver will continue for subsequent one year terms unless terminated in accordance with its terms. Such waivers are not subject to reimbursement by the Fund. The Adviser has also contractually agreed through at least April 30, 2024, to reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, if any, dividend and interest expenses related to short sales, brokerage fees, interest on borrowings, taxes, expenses related to litigation and potential litigation, and extraordinary expenses) exceed the following percentages of the average daily net assets of each Fund (the “Expense Cap”):

For the year ended December 31, 2023, there were no amounts reimbursed by the Adviser, nor were there amounts available for potential future recoupment by the Adviser.

During the year ended December 31, 2023, the aggregate value of purchase and sale cross trades with other Six Circles Funds were as follows (amounts in thousands):

During the year ended December 31, 2023, purchases and sales of investments (excluding short-term investments) were as follows (amounts in thousands):

Since the Funds are non-diversified, they may invest a greater percentage of their assets in a particular issuer or group of issuers than a diversified fund would. This increased investment in fewer issuers may result in the Funds` shares being more sensitive to economic results among those issuing the securities.

The Funds invest in foreign issuers and foreign securities (including depositary receipts) which are subject to additional risks, including political and economic risks, unstable governments, civil conflicts and war, greater volatility, decreased market liquidity, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, and less stringent investor protection and disclosure standards of foreign markets. The securities markets of many foreign countries are relatively small, with a limited number of companies representing a small number of industries. If foreign securities are denominated and traded in a foreign currency, the value of the Fund’s foreign holdings can be affected by currency exchange rates and exchange control regulations. In certain markets where securities and other instruments are not traded “delivery versus payment,” the Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely. Foreign market trading hours, clearance and settlement procedures, and holiday schedules may limit the Fund’s ability to buy and sell securities.

The Six Circles Managed Equity Portfolio International Unconstrained Fund performance may be affected by political, social and economic conditions in Europe, such as growth of the economic output (the gross national product), the rate of inflation, the rate at which capital is reinvested into European economies, the success of governmental actions to reduce budget deficits, the resource self sufficiency of European countries and interest and monetary exchange rates between European countries. European financial markets may experience volatility due to concerns about high government debt levels, credit rating downgrades, rising unemployment, the future of the euro as a common currency, possible restructuring of government debt and other government measures responding to those concerns, and fiscal and monetary controls imposed on member countries of the European Union.

As of December 31, 2023, the Six Circles Managed Equity Portfolio International Unconstrained Fund had non-U.S. country allocations representing greater than 10% of Net Assets allocated as follows:

As of December 31, 2023, a significant portion of the Six Circles Managed Equity Portfolio International Unconstrained Fund net assets consisted of securities that were denominated in foreign currencies. Changes in currency exchange rates will affect the value of, and investment income from, such securities.

The value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability and infectious disease epidemics or pandemics. For example, the outbreak of COVID-19 has negatively affected economies, markets and individual companies throughout the world, including those in which the Fund invests. The effects of this pandemic to public health and business and market conditions, including, among other things, reduced consumer demand and economic output, supply chain disruptions and increased government spending, may continue to have a significant negative impact on the performance of the Fund’s investments, increase the Fund’s volatility, exacerbate preexisting political, social and economic risks to the Fund, and negatively impact broad segments of businesses and populations. In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to the pandemic that affect the instruments in which the Fund invests, or the issuers of such instruments, in ways that could have a significant negative impact on the Fund’s investment performance. The duration and extent of COVID-19 and associated economic and market conditions and uncertainty over the long-term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which the associated conditions impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.

The Funds may also invest in shares of other investment companies and Exchange Traded Funds (ETFs). ETFs are ownership interests in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks many of which are designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. Shareholders bear both their proportionate share of the Fund’s expenses and similar expenses of the underlying investment company or ETF when the Fund invests in shares of another investment company or ETF. The Fund is subject to the risks associated with the ETF’s or investment company’s investments. ETFs, investment companies and other investment vehicles that invest in commodities or currencies are subject to the risks associated with direct investments in commodities or currencies. The price and movement of an ETF or closed-end fund designed to track an index may not track the index and may result in a loss. In addition, closed-end funds that trade on an exchange often trade at a price below their net asset value (also known as a discount). Certain ETFs or closed-end funds traded on exchanges may be thinly-traded and experience large spreads between the “ask” price quoted by a seller and the “bid” price offered by a buyer.

The Funds are also subject to counterparty credit risk, which is the risk that a counterparty fails to perform on agreements with the Funds such as swap contracts and forward foreign currency exchange contracts.

The Six Circles Managed Equity Portfolio U.S. Unconstrained Fund may invest in companies in the healthcare sector which may be subject to extensive government regulation and their profitability can be significantly affected by restrictions on government reimbursement for medical expenses, rising costs of medical products and services, pricing pressure (including price discounting), limited product lines and an increased emphasis on the delivery of healthcare through outpatient services. Companies in the healthcare sector are heavily dependent on obtaining and defending patents, which may be time consuming and costly, and the expiration of patents may also adversely affect the profitability of these companies. Healthcare companies are also subject to extensive litigation based on product liability and similar claims. In addition, their products can become obsolete due to industry innovation, changes in technologies or other market developments. Many new products in the healthcare sector require significant research and development and may be subject to regulatory approvals, all of which may be time consuming and costly with no guarantee that any product will come to market. Several legislative proposals concerning healthcare have been considered by the U.S. Congress in recent years and it is unclear what proposals will ultimately be enacted, if any, and what effect they may have on companies in the healthcare sector.

The Six Circles Managed Equity Portfolio U.S. Unconstrained Fund may invest in Technology companies which may face intense competition, both domestically and internationally, which may have an adverse effect on their profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies.

December 31, 2021, publication of the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; (ii) immediately after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently cease; and (iii) immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and that representativeness will not be restored. There is no assurance that the dates announced by the FCA will not change or that the administrator of LIBOR and/or regulators will not take further action that could impact the availability, composition or characteristics of LIBOR or the currencies and/or tenors for which LIBOR is published, and we recommend that you consult your advisors to stay informed of any such developments. In addition, certain regulated entities ceased entering into most new LIBOR contracts in connection with regulatory guidance or prohibitions. Public and private sector industry initiatives are currently underway to implement new or alternative reference rates to be used in place of LIBOR. There is no assurance that any such alternative reference rate will be similar to or produce the same value or economic equivalence as LIBOR or that it will have the same volume or liquidity as did LIBOR prior to its discontinuance, unavailability or replacement, all of which may affect the value, volatility, liquidity or return on certain of a Fund’s loans, notes, derivatives and other instruments or investments comprising some or all of the Fund’s investments and result in costs incurred in connection with changing reference rates used for positions, closing out positions and entering into new trades. Certain of the Fund’s investments may transition from LIBOR prior to the dates announced by the FCA. The transition from LIBOR to alternative reference rates may result in operational issues for the Fund or its investments. No assurances can be given as to the impact of the LIBOR transition (and the timing of any such impact) on the Fund and its investments. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor) and a wide range of other index levels, rates and values that are treated as “benchmarks” and are the subject of recent regulatory reform.

GAAP requires that certain components of net assets be reclassified between financial and tax reporting. Temporary differences to no require reclassification. Temporary differences and permanent reclassifications have no effect on net assets. For the fiscal year ended December 31, 2023, the Funds made permanent book-to-tax reclassifications primarily related to investments in swap contracts, mark-to-market of forward foreign currency contracts, mark-to-market of futures contracts, real estate investment trusts (“REITs”), straddle loss deferrals, wash sale loss deferrals, contingent debt obligation investments, debt to equity perpetual bond investments and mark-to-market investments in passive foreign investment companies (“PFICs”).

For the fiscal year ended December 31, 2023, the Funds made the following reclassifications between total distributable earnings and paid-in capital (amounts in thousands):

For Federal income tax purposes, the estimated cost and unrealized appreciation (depreciation) in value of investments held at December 31, 2023 were as follows (amounts in thousands):

The tax character of distributions paid during the year ended December 31, 2023 was as follows (amounts in thousands):

The tax character of distributions paid during the year ended December 31, 2022 was as follows (amounts in thousands):

As of December 31, 2023, the estimated components of net assets (excluding paid-in-capital) on a tax basis were as follows (amounts in thousands):

For the Funds, the cumulative timing differences primarily consist of capital loss carryforwards, mark-to-market futures contracts, REITS, straddle loss deferrals, contingent debt obligation investments, debt to equity perpetual bond investments and mark-to-market investments in PFICs and wash sale loss deferrals.

As of December 31, 2023, the following Funds had the following post-enactment net capital loss carryforwards (amounts in thousands):

During the year ended December 31, 2023, the following Funds utilized capital loss carryforwards as follows (amounts in thousands):

As of December 31, 2023, Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund each had one affiliated omnibus account for the benefit of its clients which owned approximately 99% of its outstanding shares.

Effective January 24, 2023, the Securities and Exchange Commission (“Commission”) has adopted rule and form amendments that require open-end management investment companies to transmit concise and visually engaging annual and semi-annual reports to shareholders that highlight key information that is particularly important to assess and monitor their fund investments. These final rules are designed to modernize funds’ shareholder reports so these reports will better serve the needs of fund investors.

The Funds have evaluated subsequent events through the date of issuance of this report and have determined that there are no material events that require disclosure.

To the Board of Trustees of Six Circles Trust and Shareholders of Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund

We have audited the accompanying statements of assets and liabilities, including the schedules of portfolio investments, of Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund (two of the funds constituting Six Circles Trust, hereafter collectively referred to as the “Funds”) as of December 31, 2023, the related statements of operations for the year ended December 31, 2023, the statements of changes in net assets for each of the two years in the period ended December 31, 2023, including the related notes, and the financial highlights for each of the four years in the period ended December 31, 2023 and for the period April 10, 2019 (commencement of operations) through December 31, 2019 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2023, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2023 and each of the financial highlights for each of the four years in the period ended December 31, 2023 and for the period April 10, 2019 (commencement of operations) through December 31, 2019 in conformity with accounting principles generally accepted in the United States of America.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2023 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

We have served as the auditor of one or more investment companies in the Six Circles Trust complex since 2018.

As a shareholder of the Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemption fees and (2) ongoing costs, including investment advisory fees, administration fees, distribution fees and other Fund expenses. The examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these ongoing costs with the ongoing costs of investing in other mutual funds. The examples assume that you had a $1,000 investment in each Fund on July 1, 2023, and continued to hold your shares at the end of the reporting period, December 31, 2023.

Actual Expenses

Hypothetical Example for Comparison Purposes

The following information is provided with respect to the distributions paid during the taxable year ended December 31, 2023:

The Six Circles Funds are distributed by Foreside Fund Services, LLC a member of FINRA.

As of the period ended December 31, 2023 (the “Reporting Period”), the Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer and principal financial officer, principal accounting officer or controller or persons performing similar functions. During the Reporting Period, there have been no changes to, amendments to or waivers from, any provision of the code of ethics. A copy of this code of ethics can be obtained upon request, free of charge, by calling (212) 464-2070.

The Board of Trustees of the Registrant has determined that Neil Medugno possesses the attributes identified in Instruction (b) of Item 3 to Form N-CSR to qualify as an “audit committee financial expert,” and has designated Neil Medugno as the Registrant’s audit committee financial expert. Neil Medugno is an “independent” Trustee pursuant to paragraph (a)(2) of Item 3 to Form N-CSR.

The following fees paid to PricewaterhouseCoopers, LLP, the Registrant’s principal accounting firm, are for services rendered for the fiscal years ended December 31, 2023 and December 31, 2022;

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $459,954 for the fiscal year ended December 31, 2023 and $497,257 for the fiscal year ended December 31, 2022.

The aggregate fees billed in each of the last two fiscal years for assurance and related services rendered to the Registrant by the principal accountant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item was $0 for the fiscal year ended December 31, 2023 and $0 for the fiscal year ended December 31, 2022.

The aggregate fees billed in each of the last two fiscal years for professional services rendered to the Registrant by the principal accountant for tax compliance, tax advice and tax planning was $100,996 for the fiscal year ended December 31, 2023 and $95,279 for the fiscal year ended December 31, 2022. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local entity tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification.

The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended December 31, 2023 and $0 for the fiscal year ended December 31, 2022.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that would require disclosure herein.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

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.

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.


President’s Letter			1

Market Overview			2

Fund Commentaries			3

Six Circles Ultra Short Duration Fund			3

Six Circles Tax Aware Ultra Short Duration Fund			5

Six Circles U.S. Unconstrained Equity Fund			7

Six Circles International Unconstrained Equity Fund			10

Six Circles Global Bond Fund			13

Six Circles Tax Aware Bond Fund			16

Six Circles Credit Opportunities Fund			18

Schedules of Portfolio Investments*			20

Financial Statements*			262

Financial Highlights*			284

Notes to Financial Statements			298

Report of Independent Registered Public Accounting Firm			328

Schedule of Shareholder Expenses			329

Tax information			330

Trustees and Officers			331

Privacy Policy — Located at the back of this Annual Report


REPORTING PERIOD RETURN
Fund*		5.92%
Bloomberg 1-3 Month U.S. Treasury Bill Index		5.14%

Net Assets as of 12/31/2023 (In Thousands)	$	593,710
Duration		0.50 years


REPORTING PERIOD RETURN
Fund*		3.84%
iMoneyNet Tax-Free National Institutional Money Market Index		2.64%

Net Assets as of 12/31/2023 (In Thousands)	$	698,186
Duration		0.73 years


REPORTING PERIOD RETURN
Fund*		30.43%
MSCI USA Index		27.10%

Net Assets as of 12/31/2023 (In Thousands)	$	22,024,769


REPORTING PERIOD RETURN
Fund*		18.96%
MSCI World ex-USA Index		17.94%

Net Assets as of 12/31/2023 (In Thousands)	$	13,764,429


REPORTING PERIOD RETURN
Fund*		8.16%
Bloomberg Global-Aggregate Index - Hedged USD		7.15%

Net Assets as of 12/31/2023 (In Thousands)	$	10,193,090
Duration		6.19 years


REPORTING PERIOD RETURN
Fund*		6.37%
Bloomberg 1-15 Year Municipal Bond Index		5.26%

Net Assets as of 12/31/2023 (In Thousands)	$	8,065,630
Duration		5.62 years


REPORTING PERIOD RETURN
Fund*		9.56%
Bloomberg U.S. Intermediate Corporate Bond Index		7.29%

Net Assets as of 12/31/2023 (In Thousands)	$	3,371,686
Duration		2.90 years


Futures contracts outstanding as of December 31, 2023:
Exchange Traded
DESCRIPTION	NUMBER OF CONTRACTS			EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)			VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
10 Year Commonwealth Treasury Bond		76			03/2024		AUD		5,893			149
U.S. Treasury 2 Year Note		174			03/2024		USD		35,455			374

												523


Short Contracts
SOFR 3 Month		(136	)		03/2025		USD		(32,582	)		(255	)
U.S. Treasury 10 Year Note		(29	)		03/2024		USD		(3,171	)		(103	)
U.S. Treasury 2 Year Note		(4	)		03/2024		USD		(815	)		(8	)
U.S. Treasury 5 Year Note		(68	)		03/2024		USD		(7,282	)		(114	)
U.S. Treasury Ultra Bond		(1	)		03/2024		USD		(122	)		(12	)
U.S. Ultra Treasury 10 Year Note		(37	)		03/2024		USD		(4,235	)		(132	)

												(624	)

Total unrealized appreciation (depreciation)												(101	)


Forward foreign currency exchange contracts outstanding as of December 31, 2023:
CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION) ($)
AUD	284	USD	193	Barclays Bank plc		01/09/2024		—	(h)

Total unrealized appreciation								—	(h)


HUF	937	USD	3	Morgan Stanley		01/04/2024		(—	)(h)
USD	600	HUF	211,110	Morgan Stanley		01/04/2024		(8	)
USD	6,215	AUD	9,396	Bank of America, NA		01/09/2024		(189	)
USD	1,454	CAD	1,967	Barclays Bank plc		01/09/2024		(31	)
USD	143	CAD	192	Barclays Bank plc		01/09/2024		(1	)
USD	663	CAD	900	Deutsche Bank AG		01/09/2024		(17	)
USD	183	GBP	144	Bank of America, NA		01/09/2024		(1	)
USD	14	GBP	11	Barclays Bank plc		01/09/2024		(—	)(h)
USD	3,043	GBP	2,406	Barclays Bank plc		01/09/2024		(24	)
USD	8,385	JPY	1,234,600	Nomura International plc		01/22/2024		(397	)
USD	1,763	JPY	260,000	Deutsche Bank AG		01/29/2024		(89	)
USD	2,831	CAD	3,900	Morgan Stanley & Co.		02/05/2024		(113	)
USD	181	CAD	245	Citibank, NA		02/15/2024		(4	)
USD	7,214	CAD	9,755	Citibank, NA		02/15/2024		(153	)
USD	13,467	EUR	12,273	UBS AG LONDON		03/20/2024		(124	)
USD	7,416	GBP	5,851	BNP Paribas		03/20/2024		(45	)
USD	12,798	JPY	1,800,000	BNP Paribas		03/25/2024		(134	)

Total unrealized depreciation								(1,330	)

Net unrealized appreciation (depreciation)								(1,330	)


Centrally Cleared Interest Rate Swap contracts outstanding as of December 31, 2023:
FLOATING RATE INDEX (a)	FIXED RATE	PAY/RECEIVE FLOATING RATE	MATURITY DATE		NOTIONAL AMOUNT			UPFRONT PAYMENTS (RECEIPTS)($)			UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE($)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Pay		07/08/2024		JPY	600,000		(11	)		9			(2	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.14% annually	Pay		12/06/2024		JPY	123,790		—	(h)		1			1
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.10% semi-annually	Pay		12/03/2025		JPY	140,000		(—	)(h)		(3	)		(3	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Pay		07/08/2027		JPY	400,000		(32	)		(8	)		(40	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Pay		07/08/2028		JPY	975,000		(162	)		13			(149	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Receive		07/08/2029		JPY	300,000		70			(4	)		66
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Receive		07/08/2030		JPY	780,000		257			(25	)		232
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.30% semi-annually	Pay		12/03/2030		JPY	143,500		(—	)(h)		(27	)		(27	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.05% annually	Pay		07/08/2032		JPY	120,000		(40	)		(10	)		(50	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.10% annually	Pay		07/08/2033		JPY	245,000		(98	)		(17	)		(115	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.15% annually	Pay		07/08/2037		JPY	135,000		(78	)		(30	)		(108	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.30% annually	Pay		07/08/2043		JPY	210,000		(225	)		(37	)		(262	)


FLOATING RATE INDEX
Bank Negara Malaysia KLIBOR Interbank Offered Rate Fixing 3 Month			3.77%
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR			(0.04)%
BBSW ASX Australian 6 Month			4.45%
Canadian Overnight Repo Rate Average			5.06%
CFETS China Fixing Repo Rates 7 Day			2.40%
Colombia IBR Overnight Nominal Interbank Reference Rate			12.05%
ESTR Volume Weighted Trimmed Mean Rate			3.88%
GPW Benchmark WIBID/WIBOR PLN 6 Months			5.72%
KRW Certificate of Deposit 3 Month			3.83%
SONIA Interest Rate Benchmark			5.19%
Swiss Average Rate ON Intraday Value			1.70%
Thailand Overnight Repo Rate ON			2.50%
United States SOFR			5.38%


Centrally Cleared Credit Default Swaps contracts outstanding — buy protection ⁽¹⁾ as of December 31, 2023:
REFERENCE OBLIGATION/INDEX	FINANCING RATE PAID BY THE FUND(%)		PAYMENT FREQUENCY		MATURITY DATE		IMPLIED CREDIT SPREAD (%) ⁽²⁾		NOTIONAL AMOUNT ⁽³⁾			UPFRONT PAYMENTS (RECEIPTS)($)⁽⁴⁾			UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE($)
CDX.NA.IG.41-V1		1.00		quarterly		12/20/2028		0.57		USD	5,090		(100	)		—	(h)		(100	)

Total													(100	)		—	(h)		(100	)


Written Put Option contracts on securities as of December 31, 2023:
DESCRIPTION	COUNTERPARTY		NUMBER OF CONTRACTS			NOTIONAL AMOUNT				EXERCISE PRICE			EXPIRATION DATE		VALUE
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 01/16/2054		Citigroup Global Markets, Inc.		(8,000	)		USD	(636	)		USD	97.95		01/09/2024	$	(7)
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 01/16/2054		BofA Securities, Inc.		(5,000	)		USD	(1,508	)		USD	98.81		01/09/2024		(15)
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 01/16/2054		Citigroup Global Markets, Inc.		(7,000	)		USD	(2,111	)		USD	98.81		01/09/2024		(21)
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 02/13/2054		BofA Securities, Inc.		(19,000	)		USD	(8,368	)		USD	98.13		02/04/2024		(85)
FNMA or FHLMC, Single Family, 30 years, TBA, 6.50%, 02/13/2054		Citigroup Global Markets, Inc.		(6,500	)		USD	(888	)		USD	101.38		02/06/2024		(9)

																(137	)


Written Call Option contracts on securities as of December 31, 2023:
DESCRIPTION	COUNTERPARTY		NUMBER OF CONTRACTS			NOTIONAL AMOUNT				EXERCISE PRICE			EXPIRATION DATE		VALUE
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 01/16/2054		Citigroup Global Markets, Inc.		(17,000	)		USD	(11,138	)		USD	98.47		01/09/2024		(113	)
FNMA or FHLMC, Single Family, 30 years, TBA, 6.00%, 02/13/2054		BofA Securities, Inc.		(18,000	)		USD	(14,716	)		USD	101.09		02/06/2024		(146	)

																(259	)

Total Written Options Contracts (Premiums Received $326)																(396	)



DECEMBER 31, 2023	SIX CIRCLES TRUST	1



2	SIX CIRCLES TRUST	DECEMBER 31, 2023



DECEMBER 31, 2023	SIX CIRCLES TRUST	3



4	SIX CIRCLES TRUST	DECEMBER 31, 2023


Reverse Repurchase Agreements
COUNTERPARTY	BORROWING RATE			SETTLEMENT DATE		MATURITY DATE		AMOUNT BORROWED			PAYABLE FOR REVERSE REPURCHASE AGREEMENTS			COLLATERAL PLEDGED/ (RECEIVED)		NET AMOUNT (DUE TO)/FROM COUNTERPATRY
BofA Securities, Inc.		5.58	%		12/14/2023		1/16/2024		(2,747	)		(2,755	)		2,755		—
Citigroup Global Markets Ltd.		5.52	%		12/13/2023		1/16/2024		(49,937	)		(50,083	)		50,083		—
Wells Fargo Bank NA		5.52	%		12/13/2023		1/16/2024		(53,897	)		(54,054	)		54,054		—
Wells Fargo Bank NA		5.49	%		11/13/2023		1/16/2024		(9,813	)		(9,886	)		9,886		—
Wells Fargo Bank NA		5.49	%		11/13/2023		1/16/2024		(864	)		(870	)		870		—

												(117,648	)


Accounted for as Secured Borrowings
Remaining Contractual Maturity of the Agreements
	OVERNIGHT AND CONTINUOUS		UP TO 30 DAYS			31-90 DAYS		GREATER THAN 90 DAYS		TOTAL
Reverse Repurchase Agreements
Mortgage Backed Securities		—		(117,648	)		—		—		(117,648	)

Payable for Reverse Repurchase Agreements											(117,648	)


Over the Counter (“OTC”) Credit Default Swaps contracts outstanding — buy protection ⁽¹⁾ as of December 31, 2023:
REFERENCE OBLIGATION/INDEX	FINANCING RATE PAID BY THE FUND(%)	PAYMENT FREQUENCY		COUNTERPARTY		MATURITY DATE		IMPLIED CREDIT SPREAD(%) ⁽³⁾		NOTIONAL AMOUNT ⁽⁴⁾			UPFRONT PAYMENTS (RECEIPTS)($) ⁽⁵⁾			UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE($)
Picard Bondco SA, 5.38%, 07/01/2027	5.00		quarterly		BNP Paribas		12/20/2028		3.96		EUR	37		(1	)		(1	)		(2	)

Total														(1	)		(1	)		(2	)


Over the Counter (“OTC”) Credit Default Swaps contracts outstanding — sell protection ⁽²⁾ as of December 31, 2023:
REFERENCE OBLIGATION/INDEX	FINANCING RATE RECEIVED BY THE FUND(%)	PAYMENT FREQUENCY		COUNTERPARTY	MATURITY DATE		IMPLIED CREDIT SPREAD(%) ⁽³⁾		NOTIONAL AMOUNT ⁽⁴⁾			UPFRONT PAYMENTS (RECEIPTS)($) ⁽⁵⁾			UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE($)
CMA CGM SA, 7.50%, 01/15/2026	5.00		quarterly	Goldman Sachs International		06/20/2026		1.13		EUR	10		1			—	(h)		1
Jaguar Land Rover Automotive, 2.20%, 01/15/2024	5.00		quarterly	Bank of America, NA		06/20/2026		1.88		EUR	68		(2	)		8			6
Jaguar Land Rover Automotive, 2.20%, 01/15/2024	5.00		quarterly	Barclays Bank plc		12/20/2026		2.24		EUR	30		1			2			3
Jaguar Land Rover Automotive, 2.20%, 01/15/2024	5.00		quarterly	Morgan Stanley		12/20/2026		2.24		EUR	10		1			—	(h)		1
Jaguar Land Rover Automotive, 2.20%, 01/15/2024	5.00		quarterly	Bank of America, NA		12/20/2026		2.24		EUR	20		(1	)		3			2
CMA CGM SA, 7.50%, 01/15/2026	5.00		quarterly	Goldman Sachs International		06/20/2027		1.45		EUR	70		2			7			9
CMA CGM SA, 7.50%, 01/15/2026	5.00		quarterly	Barclays Bank plc		06/20/2027		1.45		EUR	49		1			5			6
Vietnam Government International Bond, 4.80%, 11/19/2024	1.00		quarterly	Citibank, NA		12/20/2027		1.03		USD	4,300		(124	)		121			(3	)
Adler Real Estate AG, 2.13%, 02/06/2024	5.00		quarterly	Bank of America, NA		12/20/2027		13.04		EUR	200		(50	)		11			(39	)
United Group BV, 3.63%, 02/15/2028	5.00		quarterly	Bank of America, NA		12/20/2027		3.89		EUR	73		(11	)		14			3
Ladbrokers Group Finance plc, 5.13%, 09/08/2023	1.00		quarterly	Morgan Stanley		06/20/2028		1.51		EUR	100		(7	)		5			(2	)

Total													(189	)		176			(13	)


	Six Circles Ultra Short Duration Fund
ASSETS:
Investments in non-affiliates, at value	$	604,035
Cash		156
Foreign currency, at value		5
Deposits at broker for futures contracts		528
Receivables:
Investment securities sold		93
Fund shares sold		549
Interest and dividends from non-affiliates		3,746
Variation margin on futures contracts		298
Variation margin on centrally cleared swaps (net upfront payments of $–)		71
Unrealized appreciation on forward foreign currency exchange contracts		—	(a)

Total Assets		609,481


LIABILITIES:
Payables:
Investment securities purchased		13,801
Fund shares redeemed		266
Unrealized depreciation on forward foreign currency exchange contracts		1,330
Accrued liabilities:
Investment advisory fees		84
Administration fees		15
Custodian and accounting fees		36
Trustees’ fees		—	(a)
Registration and filing fees		1
Other		238

Total Liabilities		15,771

Commitments and contingent liabilities*		—

Net Assets	$	593,710


NET ASSETS:
Paid-in capital	$	603,926
Total distributable earnings (loss)		(10,216	)

Total Net Assets	$	593,710

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		60,023
Net Asset Value, offering and redemption price per share (b):	$	9.89
Cost of investments in non-affiliates	$	603,933
Cost of foreign currency		5


	Six Circles Tax Aware Ultra Short Duration Fund
ASSETS:
Investments in non-affiliates, at value	$	695,639
Foreign currency, at value		13
Deposits at broker for futures contracts		590
Receivables:
Investment securities sold		136
Fund shares sold		399
Interest and dividends from non-affiliates		5,222
Variation margin on futures contracts		458
Variation margin on centrally cleared swaps (net upfront payments of $–)		63
Unrealized appreciation on forward foreign currency exchange contracts		—	(a)
Other assets		145

Total Assets		702,665


LIABILITIES:
Payables:
Due to custodian — cash		10
Investment securities purchased		3,083
Fund shares redeemed		296
Unrealized depreciation on forward foreign currency exchange contracts		659
Accrued liabilities:
Investment advisory fees		62
Administration fees		16
Custodian and accounting fees		26
Registration and filing fees		10
Other		317

Total Liabilities		4,479

Commitments and contingent liabilities*		—

Net Assets	$	698,186


NET ASSETS:
Paid-in capital	$	707,426
Total distributable earnings (loss)		(9,240	)

Total Net Assets	$	698,186

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		70,735
Net Asset Value, offering and redemption price per share (b):	$	9.87
Cost of investments in non-affiliates	$	696,662
Cost of foreign currency		13


	Six Circles U.S. Unconstrained Equity Fund
ASSETS:
Investments in non-affiliates, at value	$	21,999,421
Deposits at broker for futures contracts		7,668
Prepaid expenses		68
Receivables:
Fund shares sold		9,327
Interest and dividends from non-affiliates		16,798
Tax reclaims		77

Total Assets		22,033,359


LIABILITIES:
Payables:
Due to custodian — cash		76
Fund shares redeemed		5,965
Variation margin on futures contracts		390
Accrued liabilities:
Investment advisory fees		1,423
Administration fees		98
Custodian and accounting fees		145
Trustees’ fees		9
Registration and filing fees		219
Other		265

Total Liabilities		8,590

Commitments and contingent liabilities*		—

Net Assets	$	22,024,769


NET ASSETS:
Paid-in capital	$	16,894,163
Total distributable earnings (loss)		5,130,606

Total Net Assets	$	22,024,769

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		1,484,457
Net Asset Value, offering and redemption price per share (a):	$	14.84
Cost of investments in non-affiliates	$	16,724,695


	Six Circles International Unconstrained Equity Fund
ASSETS:
Investments in non-affiliates, at value	$	13,678,864
Foreign currency, at value		412
Deposits at broker for futures contracts		8,618
Prepaid expenses		12
Receivables:
Investment securities sold		4,344
Fund shares sold		8,060
Interest and dividends from non-affiliates		6,862
Tax reclaims		75,507
Unrealized appreciation on forward foreign currency exchange contracts		8

Total Assets		13,782,687


LIABILITIES:
Payables:
Due to custodian — cash		144
Deposits from broker for futures contracts		288
Investment securities purchased		12,515
Fund shares redeemed		3,198
Variation margin on futures contracts		37
Unrealized depreciation on forward foreign currency exchange contracts		68
Accrued liabilities:
Investment advisory fees		1,111
Administration fees		98
Custodian and accounting fees		525
Trustees’ fees		6
Registration and filing fees		24
Other		244

Total Liabilities		18,258

Commitments and contingent liabilities*		—

Net Assets	$	13,764,429


NET ASSETS:
Paid-in capital	$	12,942,207
Total distributable earnings (loss)		822,222

Total Net Assets	$	13,764,429

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		1,279,997
Net Asset Value, offering and redemption price per share (a):	$	10.75
Cost of investments in non-affiliates	$	11,603,444
Cost of foreign currency		412


	Six Circles Global Bond Fund
ASSETS:
Investments in non-affiliates, at value	$	11,037,128
Foreign currency, at value		2,550
Deposits at broker for futures contracts		2,799
Deposits at broker for centrally cleared swaps		2,932
Deposits at broker for OTC contracts		80
Receivables:
Investment securities sold		71,376
Investment securities sold — delayed delivery securities		1,283,079
Fund shares sold		9,331
Interest and dividends from non-affiliates		100,090
Variation margin on futures contracts		130
Variation margin on centrally cleared swaps (net upfront payments of $26)		1,272
Unrealized appreciation on forward foreign currency exchange contracts		11,764
Outstanding OTC swap contracts, at value (net upfront payments of $–)		5

Total Assets		12,522,536


LIABILITIES:
Payable for reverse repurchase agreements		117,648
Payables:
Securities sold short, at value		417,412
Due to custodian — cash		489
Deposits from broker for delayed delivery securities		12,559
Deposits from broker for repurchase agreement		910
Interest expense		39
Investment securities purchased		32,744
Investment securities purchased — delayed delivery securities		1,667,915
Fund shares redeemed		4,357
Outstanding options written, at fair value		396
Unrealized depreciation on forward foreign currency exchange contracts		72,762
Outstanding OTC swap contracts, at value (net upfront payments of $–(a))		88
Accrued liabilities:
Investment advisory fees		969
Administration fees		104
Custodian and accounting fees		750
Trustees’ fees		6
Registration and filing fees		145
Other		153

Total Liabilities		2,329,446

Commitments and contingent liabilities*		—

Net Assets	$	10,193,090


NET ASSETS:
Paid-in capital	$	10,859,064
Total distributable earnings (loss)		(665,974	)

Total Net Assets	$	10,193,090

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		1,202,637
Net Asset Value, offering and redemption price per share (b):	$	8.48
Cost of investments in non-affiliates	$	11,137,639
Cost of foreign currency		2,550
Proceeds from securities sold short		(404,426	)
Premiums received from options written		(326	)


	Six Circles Tax Aware Bond Fund
ASSETS:
Investments in non-affiliates, at value	$	8,038,734
Deposits at broker for futures contracts		1
Receivables:
Investment securities sold		5
Fund shares sold		6,372
Interest and dividends from non-affiliates		89,310

Total Assets		8,134,422


LIABILITIES:
Payables:
Due to custodian — cash		300
Investment securities purchased		64,232
Fund shares redeemed		2,931
Accrued liabilities:
Investment advisory fees		767
Administration fees		99
Custodian and accounting fees		237
Trustees’ fees		5
Registration and filing fees		70
Other		151

Total Liabilities		68,792

Commitments and contingent liabilities*		—

Net Assets	$	8,065,630


NET ASSETS:
Paid-in capital	$	8,312,974
Total distributable earnings (loss)		(247,344	)

Total Net Assets	$	8,065,630

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		818,999
Net Asset Value, offering and redemption price per share (a):	$	9.85
Cost of investments in non-affiliates	$	8,139,461


	Six Circles Credit Opportunities Fund
ASSETS:
Investments in non-affiliates, at value	$	3,313,176
Deposits at broker for futures contracts		1,315
Deposits at broker for centrally cleared swaps		1,168
Deposits at broker for OTC contracts		30
Receivables:
Investment securities sold		12,233
Fund shares sold		2,369
Interest and dividends from non-affiliates		54,624
Variation margin on futures contracts		329
Variation margin on centrally cleared swaps (net upfront receipts of $2,479)		678
Unrealized appreciation on forward foreign currency exchange contracts		1
Outstanding OTC swap contracts, at value (net upfront receipts of $8)		31

Total Assets		3,385,954


LIABILITIES:
Payables:
Due to custodian — cash		17
Deposits from broker for OTC contracts		20
Investment securities purchased		11,281
Fund shares redeemed		934
Unrealized depreciation on forward foreign currency exchange contracts		358
Outstanding OTC swap contracts, at value (net upfront receipts of $182)		46
Accrued liabilities:
Investment advisory fees		958
Administration fees		58
Custodian and accounting fees		160
Trustees’ fees		3
Registration and filing fees		2
Other		431

Total Liabilities		14,268

Commitments and contingent liabilities*		—

Net Assets	$	3,371,686


NET ASSETS:
Paid-in capital	$	3,704,824
Total distributable earnings (loss)		(333,138	)

Total Net Assets	$	3,371,686

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		384,783
Net Asset Value, offering and redemption price per share (a):	$	8.76
Cost of investments in non-affiliates	$	3,340,509


	Six Circles Ultra Short Duration Fund
INVESTMENT INCOME:
Interest income from non-affiliates	$	25,653

Total investment income		25,653


EXPENSES:
Investment advisory fees		1,449
Administration fees		59
Custodian and accounting fees		148
Professional fees		70
Trustees’ fees		35
Printing and mailing costs		14
Registration and filing fees		26
Transfer agency fees		31
Interest expense		11
Other		13

Total expenses		1,856

Less advisory fees waived		(778	)

Net expenses		1,078

Net investment income (loss)		24,575


REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on:
Investments in non-affiliates		(1,523	)
Futures contracts		(224	)
Foreign currency transactions		(203	)
Forward foreign currency exchange contracts		87
Swaps		66

Net realized gain (loss)		(1,797	)

Change in net unrealized appreciation (depreciation) of:
Investments in non-affiliates		10,551
Futures contracts		(158	)
Foreign currency translations		3
Forward foreign currency exchange contracts		188
Swaps		(171	)

Change in net unrealized appreciation (depreciation)		10,413

Net realized/unrealized gains (losses)		8,616

Change in net assets resulting from operations	$	33,191


	Six Circles Tax Aware Ultra Short Duration Fund
INVESTMENT INCOME:
Interest income from non-affiliates	$	22,514

Total investment income		22,514


EXPENSES:
Investment advisory fees		1,739
Administration fees		62
Custodian and accounting fees		108
Professional fees		68
Trustees’ fees		37
Printing and mailing costs		8
Registration and filing fees		34
Transfer agency fees		29
Interest expense		20
Other		12

Total expenses		2,117

Less advisory fees waived		(1,080	)

Net expenses		1,037

Net investment income (loss)		21,477


REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on:
Investments in non-affiliates		(945	)
Futures contracts		(602	)
Foreign currency transactions		62
Forward foreign currency exchange contracts		26
Swaps		88

Net realized gain (loss)		(1,371	)

Change in net unrealized appreciation (depreciation) of:
Investments in non-affiliates		7,419
Futures contracts		(7	)
Foreign currency translations		3
Forward foreign currency exchange contracts		(209	)
Swaps		(155	)

Change in net unrealized appreciation (depreciation)		7,051

Net realized/unrealized gains (losses)		5,680

Change in net assets resulting from operations	$	27,157


	Six Circles International Unconstrained Equity Fund
INVESTMENT INCOME:
Interest income from non-affiliates	$	3,003
Dividend income from non-affiliates		405,659
Foreign taxes withheld		(43,551	)
Other Income		33

Total investment income		365,144


EXPENSES:
Investment advisory fees		32,017
Administration fees		392
Custodian and accounting fees		2,080
Professional fees		228
Trustees’ fees		302
Printing and mailing costs		111
Registration and filing fees		166
Transfer agency fees		37
Interest expense		200
Other		379

Total expenses		35,912

Less advisory fees waived		(25,614	)

Net expenses		10,298

Net investment income (loss)		354,846


REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on:
Investments in non-affiliates		254,707
Futures contracts		9,417
Foreign currency transactions		2,607
Forward foreign currency exchange contracts		(962	)

Net realized gain (loss)		265,769

Change in net unrealized appreciation (depreciation) of:
Investments in non-affiliates		1,567,588	(a)
Futures contracts		1,060
Foreign currency translations		3,801
Forward foreign currency exchange contracts		(60	)

Change in net unrealized appreciation (depreciation)		1,572,389

Net realized/unrealized gains (losses)		1,838,158

Change in net assets resulting from operations	$	2,193,004


	Six Circles Tax Aware Bond Fund
INVESTMENT INCOME:
Interest income from non-affiliates	$	188,418

Total investment income		188,418


EXPENSES:
Investment advisory fees		16,128
Administration fees		385
Custodian and accounting fees		813
Professional fees		146
Trustees’ fees		161
Printing and mailing costs		75
Registration and filing fees		141
Transfer agency fees		31
Interest expense		—	(a)
Other		51

Total expenses		17,931

Less advisory fees waived		(9,198	)

Net expenses		8,733

Net investment income (loss)		179,685


REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on:
Investments in non-affiliates		(23,556	)
Futures contracts		(1,182	)

Net realized gain (loss)		(24,738	)

Change in net unrealized appreciation (depreciation) of:
Investments in non-affiliates		291,370
Futures contracts		(146	)

Change in net unrealized appreciation (depreciation)		291,224

Net realized/unrealized gains (losses)		266,486

Change in net assets resulting from operations	$	446,171


	Six Circles Ultra Short Duration Fund
	Year Ended December 31, 2023			Year Ended December 31, 2022
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	24,575		$	8,550
Net realized gain (loss)		(1,797	)		527
Change in net unrealized appreciation (depreciation)		10,413			(9,738	)

Change in net assets resulting from operations		33,191			(661	)


DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income/realized gains		(22,451	)		(13,350	)
From return of capital		(876	)		—

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		16,424			(38,990	)


NET ASSETS:
Change in net assets		26,288			(53,001	)
Beginning of year		567,422			620,423

End of year	$	593,710		$	567,422


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	84,406		$	70,561
Distributions reinvested		23,323			13,348
Cost of shares redeemed		(91,305	)		(122,899	)

Total change in net assets resulting from capital transactions	$	16,424		$	(38,990	)


SHARE TRANSACTIONS:
Issued		8,606			7,166
Reinvested		2,382			1,367
Redeemed		(9,310	)		(12,514	)

Change in Shares		1,678			(3,981	)


	Six Circles Tax Aware Ultra Short Duration Fund
	Year Ended December 31, 2023			Year Ended December 31, 2022
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	21,477		$	6,466
Net realized gain (loss)		(1,371	)		(1,006	)
Change in net unrealized appreciation (depreciation)		7,051			(7,942	)

Change in net assets resulting from operations		27,157			(2,482	)


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(20,161	)		(9,164	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		126,900			(67,131	)


NET ASSETS:
Change in net assets		133,896			(78,777	)
Beginning of year		564,290			643,067

End of year	$	698,186		$	564,290


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	379,565		$	71,441
Distributions reinvested		20,142			9,157
Cost of shares redeemed		(272,807	)		(147,729	)

Total change in net assets resulting from capital transactions	$	126,900		$	(67,131	)


SHARE TRANSACTIONS:
Issued		38,720			7,231
Reinvested		2,056			934
Redeemed		(27,738	)		(14,993	)

Change in Shares		13,038			(6,828	)


	Six Circles U.S. Unconstrained Equity Fund
	Year Ended December 31, 2023			Year Ended December 31, 2022
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	257,596		$	201,435
Net realized gain (loss)		759,865			(702,559	)
Change in net unrealized appreciation (depreciation)		3,773,899			(3,550,492	)

Change in net assets resulting from operations		4,791,360			(4,051,616	)


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(270,952	)		(386,090	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		2,813,655			790,459


NET ASSETS:
Change in net assets		7,334,063			(3,647,247	)
Beginning of year		14,690,706			18,337,953

End of year	$	22,024,769		$	14,690,706


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	4,954,105		$	3,894,429
Distributions reinvested		270,423			385,573
Cost of shares redeemed		(2,410,873	)		(3,489,543	)

Total change in net assets resulting from capital transactions	$	2,813,655		$	790,459


SHARE TRANSACTIONS:
Issued		373,238			298,755
Reinvested		18,421			33,012
Redeemed		(182,529	)		(278,426	)

Change in Shares		209,130			53,341


	Six Circles International Unconstrained Equity Fund
	Year Ended December 31, 2023			Year Ended December 31, 2022
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	354,846		$	353,118
Net realized gain (loss)		265,769			(1,287,545	)
Change in net unrealized appreciation (depreciation)		1,572,389			(1,221,477	)

Change in net assets resulting from operations		2,193,004			(2,155,904	)


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(389,226	)		(353,505	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		580,025			(338,528	)


NET ASSETS:
Change in net assets		2,383,803			(2,847,937	)
Beginning of year		11,380,626			14,228,563

End of year	$	13,764,429		$	11,380,626


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	2,020,163		$	4,195,948
Distributions reinvested		388,666			353,267
Cost of shares redeemed		(1,828,804	)		(4,887,743	)

Total change in net assets resulting from capital transactions	$	580,025		$	(338,528	)


SHARE TRANSACTIONS:
Issued		196,734			441,008
Reinvested		36,563			37,782
Redeemed		(177,372	)		(536,770	)

Change in Shares		55,925			(57,980	)


	Six Circles Global Bond Fund
	Year Ended December 31, 2023			Year Ended December 31, 2022
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	302,138		$	117,891
Net realized gain (loss)		(278,229	)		(134,761	)
Change in net unrealized appreciation (depreciation)		702,880			(672,402	)

Change in net assets resulting from operations		726,789			(689,272	)


DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income/realized gains		—			(806,124	)
From return of capital		(296,396	)		—

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		1,852,802			1,601,228


NET ASSETS:
Change in net assets		2,283,195			105,832
Beginning of year		7,909,895			7,804,063

End of year	$	10,193,090		$	7,909,895


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	3,339,111		$	2,881,333
Distributions reinvested		296,374			806,107
Cost of shares redeemed		(1,782,683	)		(2,086,212	)

Total change in net assets resulting from capital transactions	$	1,852,802		$	1,601,228


SHARE TRANSACTIONS:
Issued		407,815			317,366
Reinvested		36,308			97,980
Redeemed		(218,384	)		(229,254	)

Change in Shares		225,739			186,092