❯	Large Cap Fund

❯	Large Cap Disciplined Equity Fund

❯	Large Cap Index Fund

❯	S&P 500 Index Fund

❯	Extended Market Index Fund

❯	Small Cap Fund

❯	Small Cap II Fund

❯	Small/Mid Cap Equity Fund

❯	U.S. Equity Factor Allocation Fund

❯	U.S. Managed Volatility Fund

❯	Global Managed Volatility Fund

❯	World Equity Ex-US Fund

❯	Screened World Equity Ex-US Fund

❯	World Select Equity Fund

❯	Emerging Markets Equity Fund

❯	Opportunistic Income Fund

❯	Core Fixed Income Fund

❯	High Yield Bond Fund

❯	Long Duration Fund

❯	Long Duration Credit Fund

❯	Ultra Short Duration Bond Fund

❯	Emerging Markets Debt Fund

❯	Real Return Fund

❯	Limited Duration Bond Fund

❯	Intermediate Duration Credit Fund

❯	Dynamic Asset Allocation Fund

❯	Multi-Asset Real Return Fund

Paper copies of the Funds’ shareholder reports are no longer sent by mail, unless you specifically request them from the Funds or from your financial intermediary, such as a broker-dealer or bank. Shareholder reports are available online and you will be notified by mail each time a report is posted on the Funds’ website and provided with a link to access the report online.

You may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to inform it that you wish to continue receiving paper copies of your shareholder reports. If you invest directly with the Funds, you can inform the Funds that you wish to continue receiving paper copies of your shareholder reports by calling 1-800-DIAL-SEI. Your election to receive reports in paper will apply to all funds held with the SEI Funds or your financial intermediary.

The Trust files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarter of each fiscal year on Form N-PORT. The Trust’s Forms N-PORT are available on the Commission’s website at http://www.sec.gov.

A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities, as well as information relating to how a Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-800-DIAL-SEI; and (ii) on the Commission’s website at https://www.sec.gov.

All eyes (and ears) were on the U.S. Federal Reserve (Fed) during the 12-month reporting period ending May 31, 2023. Later in the period, investors’ attention turned to the politically charged U.S. debt-ceiling standoff, as well as a crisis in the banking sector.

The U.S. equity market gyrated as the Fed began and then maintained its interest rate-hiking cycle in an effort to tame rising inflation. Headline inflation, as measured by the U.S. consumer-price index (CPI), peaked at a year-over-year rate of 9.1% in June 2022, before decelerating to 4.9% by April 2023–the smallest annual increase in two years–as energy prices declined. However, core inflation, as represented by the CPI for all items less food and energy, moderated at a relatively slower pace than that of the CPI, rising 5.5% year-over-year in April, down from an annual rate of 6.6% in September 2022 - the largest 12-month increase in 40 years. As inflationary pressures persisted, the Fed raised the federal funds rate seven times by an aggregate of 425 basis points (4.25%) over the reporting period to a range of 5.00% to 5.25%. However, the central bank slowed the pace of its 0.75% increases following its meeting in December 2022, raising the federal-funds rate by 0.50%, followed by 0.25% rate hikes in February, March, and May 2023.

In its announcement of the 0.25% increase in its benchmark interest rate in May, the Federal Open Market Committee (FOMC) commented, “We will closely monitor incoming information and assess the implications for monetary policy. In determining the extent to which additional policy firming may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” According to the minutes from the FOMC’s meeting in May, "Participants generally expressed uncertainty about how much more policy tightening may be appropriate." While some investors believe that the Fed was preparing to pause its rate-hiking cycle, the FOMC's meeting minutes stressed that "[m]any participants focused on the need to retain optionality," leaving the door open for further rate hikes.

In early March 2023, the financial markets’ focus turned to the banking sector as two U.S.-based regional banks–Silicon Valley Bank (SVB) and Signature Bank–failed after depositors withdrew funds on fears regarding the valuation of the institutions’ bond portfolios. The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver to SVB after the California Department of Financial Protection and Innovation– which oversees the operations of state-licensed financial institutions, including banks and credit unions–closed the bank. Occurring on the heels of the collapse of Silvergate Capital a few days earlier, SVB’s failure prompted investors to reconsider the safety of their positions across the banking industry. SVB is a unique entity, with a client base highly concentrated among startup, venture capital-backed companies. The deposits of the bank increased tremendously over the past few years and poor liquidity management of these assets appears to have been a significant contributor to the collapse. Both Silvergate Capital and Signature Bank, which was shut down by New York state regulators in mid-March, were closely aligned with the highly speculative cryptocurrency industry. In early May, U.S. regulators took control of California-based First Republic Bank. The California Department of Financial Protection and Innovation issued a statement announcing that it had taken over the bank and appointed the FDIC as receiver. The FDIC subsequently accepted J.P. Morgan Chase Bank’s bid “to assume all deposits, including all uninsured deposits, and substantially all assets of First Republic Bank."

During a news conference toward the end of the reporting period, Fed Chair Jerome Powell stated that the problems in the banking sector may eliminate the need for the central bank to maintain its interest rate-hiking cycle. He commented, “The risks of doing too much versus doing too little are becoming more balanced.” However, Powell cautioned that “failure to get inflation down would not only prolong the pain but also increase, ultimately, the social costs of getting back price stability, causing even greater harm for families and businesses.”

The administration of President Joe Biden and the Republican Party majority in the U.S. House of Representatives engaged in a heated debate about raising the U.S. government’s $31.4 trillion debt ceiling. The debt ceiling comprises the total amount of money that the U.S. government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. U.S. Treasury Secretary Janet Yellen had warned that the U.S. would no longer be able to meet its financial obligations as of early June. After numerous one-on-one discussions, Biden and Kevin McCarthy, who had been elected Speaker of the House of Representatives after the Republicans secured a majority

in the lower house of Congress following the national election in November 2022, reached an agreement on the debt ceiling during the last week of May. Both the U.S. House of Representatives and the Senate passed the legislation–the Fiscal Responsibility Act–by wide margins, with strong support from Republicans and Democrats. The bill suspends the debt ceiling through January 1, 2025, maintains non-military spending close to current levels for the 2024 fiscal year, which begins in October, and implements a 1% cap on increases in non-military spending for the 2025 fiscal year. The fast-track approval of the legislation enabled the government to avoid a potential default on its debt. Following the vote in the Senate, Biden said, “No one gets everything they want in a negotiation, but make no mistake: This bipartisan agreement is a big win for our economy and the American people.”

The ongoing Russia-Ukraine war dominated the geopolitical news during the reporting period. Ukraine’s president, Volodymyr Zelenskyy, traveled to Washington, D.C., to address a joint session of the U.S. Congress in late December 2022 in an effort to secure additional financial aid from the U.S. and its allies. President Biden reiterated the U.S. government’s support for Ukraine in its conflict with Russia. In late December, the U.S. Congress approved $45 billion in additional financial assistance to Ukraine. In February 2023, nearly a year after the conflict began, President Biden made an unannounced trip to Ukraine to meet with President Zelenskyy and to encourage ongoing support from U.S. allies. The visit occurred as Russian President Vladimir Putin increased military activity in eastern Ukraine. President Biden’s trip was particularly risky as there was no protection from U.S. military personnel on the ground in Ukraine. In March, President Xi Jinping of China met with Russian President Vladimir Putin in Moscow to discuss China’s proposal to end the conflict with Ukraine. The Biden administration criticized the plan as “the ratification of Russian conquest” as it proposed a ceasefire that would recognize Russia’s right to occupy territory in Ukraine and provide Putin with time to bolster the nation’s military forces.

Toward the end of the reporting period, the Wagner Group, a Russian paramilitary organization, began to retreat from the city of Bakhmut, Ukraine, in late May. The mercenaries were scheduled to complete their retreat by the beginning of June, and would be replaced by regular Russian troops. The Wagner Group had been fighting in Bakhmut since the summer of 2022. The withdrawal from the city occurred after the group’s leader, Yevgeny Prigozhin, claimed that Russian Defense Minister Sergei Shoigu and Valery Gerasimov, Chief of the General Staff, had intentionally withheld ammunition from Wagner Group fighters.

Liz Truss was elected U.K. Prime Minister in September 2022, but served just seven weeks before resigning. The disastrous reaction to her fiscal program sent gilt and sterling markets reeling, collapsing her support within the Conservative Party. Her departure cleared the way for Rishi Sunak to ascend as the Conservative Party leader and Prime Minister. Sunak’s administration was plagued by public-sector employee strikes and other job actions since late 2022, as pay increases have not kept up with the U.K.’s inflation rate, which stood at 7.8% year-over-year in April. In the spring of 2023, however, the labor tensions appeared to be easing. The GMB union, which represent National Health Service (NHS) workers, announced that its members voted to accept the U.K. government’s offer to resolve a labor dispute following five months of contentious negotiations and strikes.

Geopolitical tensions rose in the Asia-Pacific region toward the end of the reporting period in late May 2023. North Korea notified the International Maritime Organization, the United Nations’ specialized agency with responsibility for the security of shipping and the prevention of marine and atmospheric pollution by ships, of its intention to launch its first military reconnaissance satellite between May 31 and June 11. Japan’s Ministry of Defense subsequently announced that it had placed its ballistic missile defenses on alert and vowed to shoot down any North Korean missile or debris if it entered Japan’s territory. A reconnaissance satellite would enhance North Korea’s capability to carry out a preemptive military strike and monitor potential incoming threats from the U.S. and South Korea. Japan, the U.S. and South Korea issued a joint statement warning that, if North Korea proceeds with the satellite launch, “there will be a stern, unified response from the international community.”

U.S. inflation, as measured by the consumer-price index (CPI), peaked at an annual rate of 9.1% in June 2022, the largest year-over-year increase since December 1981, and then showed signs of cooling in the second half of the reporting period. The CPI posted a slightly lower-than-expected year-over-year gain of 4.9% in April 2023—the smallest annual increase since April 2021. Core inflation, as measured by the CPI for all items less food and energy, was up 5.5% over the previous 12 months—down marginally from the 5.6% annual rise in March. According to the

Department of Commerce, the personal-consumption-expenditures (PCE) price index rose 4.4% over the 12-month period ending in April 2023, fueling speculation over the possibility of further Fed rate hikes to combat inflation. Food prices rose 6.9% year-over-year, while energy prices fell 6.3% during the same period. The PCE price index is the Fed’s preferred gauge of inflation, as it tracks the change in prices paid by or on behalf of consumers for a more comprehensive set of goods and services than that of the CPI.

The Department of Commerce also reported that U.S. gross domestic product (GDP) expanded at an annualized rate of 1.3% in the first quarter of 2023, down from the 2.6% rise in the fourth quarter of 2022. The largest increases for the first quarter of the year included consumer spending, exports, and federal government spending. These gains offset reductions in private inventory investment (a measure of the changes in values of inventories from one time period to the next) and residential fixed investment (purchases of private residential structures and residential equipment that property owners use for rentals). The government attributed the slower GDP growth rate relative to the fourth quarter of 2022 to a downturn in private inventory investment and a decline in nonresidential fixed investment (purchases of both nonresidential structures and equipment and software).

According to the Department of Labor, U.S. payrolls expanded by a monthly average of 339,000 over the reporting period, and the unemployment rate remained in a narrow range, ticking up from 3.6% to 3.7%. The labor-force participation rate (the percentage of the U.S. population that is either working or actively looking for work) ended the period at 62.6%, edging up from 62.3% in May 2022. Average hourly earnings rose 4.3% over the 12-month period, suggesting that employers needed to increase compensation to find and retain workers.

Global equity markets saw varied performance amid numerous periods of volatility over the reporting period. Developed markets posted modest gains and outperformed their emerging-market counterparts, which lost ground during the period. The developed and emerging European markets garnered positive returns and were the top-performing regions in both asset classes. Developed markets in the Far East also performed well. No region within the developed markets ended the period in negative territory. Africa was the primary laggard among emerging markets. In the U.S., shares of large-cap companies, as measured by the Russell 1000^® Index, advanced 2.5% during the reporting period, while small-cap stocks, as represented by the Russell 2000^® Index, returned -4.7%. Large-cap growth stocks registered positive returns and significantly outperformed their value counterparts, which lost ground during the period.

A theme for U.S. fixed-income markets over the reporting period was the inversion of the U.S. Treasury yield curve beginning in early July 2022, when yields on shorter-term bonds exceeded those on longer-dated securities (bond prices move inversely to interest rates). The significant upturn in shorter-term bond yields reflected expectations for continued interest-rate hikes by the Fed; longer-term bonds showed signs of concerns regarding how monetary tightening might have a negative effect on economic growth. U.S. high-yield bonds ended the period with marginal gains, outperforming Treasurys, corporate bonds, and mortgage-backed securities (MBS).

U.S. Treasury yields moved sharply higher across the curve over the reporting period. Yields on 1-month U.S. Treasury bills (T-bills) with maturities close to the U.S. government’s “X-date” for the default on its financial obligations in early June 2023, surged 2.11% over a 30-day period between late April and late May to 6.02%–the highest level since the introduction of the 1-month T-bill in July 2001–before tumbling to 5.28% over the last two days of the month following the announcement of an agreement on raising the debt ceiling. Investors had demanded higher yields as compensation for the additional risk that the U.S. government could default on its debt. The yield on the 10-year U.S. Treasury note ended the 12-month reporting period up 0.79% to 3.64%, while the 2-year yield rose 1.87% to 4.40%. The spread between 10- and 2-year notes widened from +0.32% to -0.76% during the period, resulting in a significant inversion of the yield curve.

Commodity prices, as measured by the Bloomberg Commodity Total Return Index (which represents the broad commodity market), fell 11.4% during the reporting period. However, gold prices declined early in the period due mainly to notable strength in the U.S. dollar, but subsequently staged a rally and ended the period in positive territory as the greenback weakened and the Fed began to slow the pace of its interest-rate hikes. Prices for West Texas Intermediate crude oil and Brent crude oil declined sharply during the period amid concerns that additional interest-rate hikes from central banks will weigh on global economic growth and reduce demand. Wheat prices tumbled

after Russia renewed a deal with the UN, Ukraine, and Turkey that allows the shipment of Ukrainian grain through the Black Sea. Additionally, Egypt made a large purchase tender for Russian wheat at a relatively low price. Russia reduced its prices in a bid to undercut those of other wheat-exporting countries.

Political brinksmanship is back in full force thanks to the U.S. debt ceiling. Prior to the agreement between Biden and McCarthy and the subsequent vote in the U.S. Congress to suspend the debt ceiling until the beginning of 2025, yields on U.S. Treasury securities maturing this summer varied quite a bit by maturity, reflecting fluctuating degrees of confidence in whether holders will be made whole on schedule. There was near-universal acknowledgement that a default would have constituted a catastrophic policy error.

We believe that the tumult in the banking system isn’t over yet. Although it appears that the crisis stage has eased, smaller banks are facing ongoing pressure to raise deposit rates to more competitive levels, while borrowing from the Fed and U.S. government agencies to improve their liquidity. Smaller banks are struggling financially after the Fed's rate hikes over the past 15 months have significantly reduced the value of their bond holdings, resulting in estimated unrealized losses totalling $1.8 trillion. SEI views the situation as a crisis of confidence, not the credit crunch that occurred during the Global Financial Crisis of 2007-2008. Between the asset/liability mismatch and the downstream effects from 5.25% of Fed rate hikes in an incredibly short period of time, we think that the market will continue to judge and punish the “weak hands.”

Regarding Fed monetary policy, some interpreted the language in the FOMC’s statement following its 0.25% rate hike in May as an indication that the central bank was giving itself the flexibility to pause its rate-hiking cycle at its June meeting. We at SEI are in the “pause” camp. We don’t see a cut in 2023 unless there is a sudden extreme acceleration in the softening of prices and a dramatic deterioration in employment trends.

Labor input costs are one of the most prominent drivers of inflation and, with worker participation levels softening over time (particularly for the working-age male cohort) and the swift aging of populations in many major developed and emerging economies, we may see continued upward pressure on wages that help keep inflation higher for longer. The most recent reported unemployment rates are at or below long-term equilibrium levels for many countries. This implies that labor markets globally are extremely tight and wage growth is likely to remain higher-than-desired, putting continued upward pressure on inflation. SEI has consistently predicted that inflation would be higher for longer since the spring of 2021. Our out-of-consensus call is now the consensus view.

We remain cautious on equity markets from a top-down perspective. Within the equity asset class, we continue to focus on our core approach: favoring high-quality companies with positive earnings momentum at reasonable valuations.

Bloomberg A+ U.S. Credit Index: measures publicly issued U.S. corporate and specified foreign debentures and secured notes that have at least one year to final maturity regardless of call features, have at least $250 million par amount outstanding.

Bloomberg Commodity Index Total Return Index: is composed of futures contracts and reflects the returns on a fully collateralized investment in the Bloomberg Commodity Index.

Bloomberg Commodity Index: is a broadly diversified index that allows investors to track commodity futures through a single, simple measure.

Bloomberg Global Aggregate Index: is a broad-based benchmark that is considered representative of global investment-grade, fixed-income markets.

Bloomberg Long A+ U.S. Credit Index: measures the performance of the U.S. corporate and a non-corporate component with maturities of 10 years and greater that includes foreign agencies, sovereigns, supranationals, and local authorities.

Bloomberg Short U.S. Treasury 9-12 Month Index: measures the performance of U.S. Treasury securities that have a remaining maturity between nine and twelve months.

Bloomberg U.S. Aggregate Bond Index: is a benchmark index composed of U.S. securities in Treasury, government-related, corporate and securitized sectors. It includes securities that are of investment-grade quality or better, have at least one year to maturity and have an outstanding par value of at least $250 million.

Bloomberg U.S. Corporate Investment Grade Index: is a broad-based benchmark that measures the investment-grade, fixed-rate, taxable corporate bond market.

Bloomberg U.S. Long Credit Index: Unmanaged index measures the investment return of all medium and larger public issues of U.S. Treasury, agency, investment-grade corporate, and investment-grade international dollar-denominated bonds with maturities longer than 10 years. The average maturity is approximately 20 years.

Bloomberg U.S. Long Government/Credit Index: Unmanaged index measures the investment return of all medium and larger public issues of U.S. Treasury, agency, investment-grade corporate, and investment-grade international dollar-denominated bonds with maturities longer than 10 years. The average maturity is approximately 20 years.

Bloomberg 1-5 Year U.S. TIPS Index: measures the performance of the U.S. Treasury Inflation Protected Securities (TIPS) market.

Dow Jones Industrial Average: measures the stock performance of 30 large companies listed on stock exchanges in the United States.

FTSE UK Series All-Share Index: is a capitalization-weighted index, comprising around 600 of more than 2,000 companies traded on the London Stock Exchange.

ICE BofA U.S. High Yield Constrained Index: tracks the performance of below-investment-grade, U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market; exposure to individual issuers is capped at 2%.

ICE BofA 1-3 year U.S. Treasury Index: measures the performance of a single issue of outstanding treasury bill which matures closest to, but not beyond, three months from the rebalancing date. The issue is purchased at the beginning of the month and held for a full month; at the end of the month that issue is sold and rolled into a newly selected issue.

ICE BofA USD 3-Month Deposit Offered Rate Constant Maturity Index: is based on the assumed purchase of a synthetic instrument having 3 months to maturity and with a coupon equal to the closing quote for 3-Month LIBOR. That issue is sold the following day (priced at a yield equal to the current day closing 3-Month LIBOR rate) and is rolled into a new 3-Month instrument. The index, therefore, will always have a constant maturity equal to exactly 3 months.

JP Morgan EMBI Global Diversified Index: tracks the performance of external debt instruments (including U.S.-dollar-denominated and other external-currency-denominated Brady bonds, loans, Eurobonds and local-market instruments) in emerging markets.

JP Morgan GBI-EM Global Diversified Index: tracks the performance of debt instruments issued in local currencies by emerging-market governments.

MSCI All Country World Ex-U.S. Net Index: captures large and mid-cap representation across 22 of 23 Developed Markets (DM) countries (excluding the U.S.) and 24 Emerging Markets (EM) countries*. With 2,269 constituents, the index covers approximately 85% of the global equity opportunity set outside the U.S.

MSCI All Country World Net Index: is MSCI’s flagship global equity index, is designed to represent performance of the full opportunity set of large- and mid-cap stocks across 23 developed and 24 emerging markets. As of May 2022, it covers more than 2,933 constituents across 11 sectors and approximately 85% of the free float-adjusted market capitalization in each market. The index is built using MSCI’s Global Investable Market Index (GIMI) methodology, which is designed to take into account variations reflecting conditions across regions, market cap sizes, sectors, style segments and combinations.

MSCI Emerging + Frontier Markets Index (Net): captures large and mid-cap representation across 25 Emerging Markets (EM) countries and 28 Frontier Markets (FM) countries. With 1,481 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

MSCI Emerging Markets Index: is a free float-adjusted market-capitalization-weighted index designed to measure the performance of global emerging-market equities.

MSCI Europe Index: is a free float-adjusted market-capitalization-weighted index designed to measure the performance of large- and mid-capitalization stocks across developed-market countries in Europe.

MSCI World Minimum Volatility (USD) Index: aims to reflect the performance characteristics of a minimum variance strategy applied to the MSCI large and mid-cap equity universe across 23 Developed Markets countries.

MSCI USA Minimum Volatility Index: aims to reflect the performance characteristics of a minimum variance strategy applied to the large and mid cap USA equity universe. The index is calculated by optimizing the MSCI USA Index, its parent index, in USD for the lowest absolute risk (within a given set of constraints). Historically, the index has shown lower beta and volatility characteristics relative to the MSCI USA Index.

MSCI World Index: is a free float-adjusted market-capitalization-weighted index that is designed to measure the equity-market performance of developed markets. The Index consists of 24 developed-market country indexes.

Russell 1000^® Index: includes 1000 of the largest U.S. stocks based on market cap and current index membership; it is used to measure the activity of the U.S. large-cap equity market.

Russell 2000^® Index: measures the performance of the 2,000 smallest companies in the Russell 3000^® Index, which represents approximately 8% of the total market capitalization of the Russell 3000^® Index.

Russell 2500^® Index: measures the performance of the 2,500 smallest companies in the Russell 3000^® Index. This index is market cap-weighted and includes only common stocks incorporated in the U.S. and its territories.

Russell 3000^® Index: measures the performance of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity market.

Russell Small Cap Completeness Index: measures the performance of the Russell 3000^® Index companies excluding S&P 500 constituents.

S&P 500 Index: is an unmanaged, market-weighted index that consists of 500 of the largest publicly-traded U.S. companies and is considered representative of the broad U.S. stock market.

* DM countries include: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the UK. EM countries include: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.

I. Objective

The Large Cap Fund (the “Fund”) seeks long-term growth of capital and income.

II. Multi-Manager Approach Statement

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: Acadian Asset Management LLC (Acadian), Copeland Capital Management, LLC (Copeland), Fred Alger Management, LLC (Alger), LSV Asset Management (LSV), Mar Vista Investment Partners, LLC (Mar Vista), and Cullen Capital Management LLC (Cullen). Coho Partners, Ltd. (Coho) was removed and Copeland was added during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -0.74%. The Fund’s primary benchmark, the Russell 1000^® Index—which is used to measure the performance of the U.S. large-cap equity market—returned 2.45%.

IV. Fund Attribution

U.S. equities saw mixed performance during the 12-month reporting period due to investors’ concerns that rising interest rates, the Russia-Ukraine war, and high inflation could eventually lead to a U.S. recession. While most sectors within the benchmark Russell 1000^® Index posted negative returns for the period, the overall index performance was lifted by a several mega-cap growth stocks and the information technology sector, in particular.

Real estate was the weakest-performing sector within the Russell 1000^® Index for the reporting period as investors were concerned about the potential for unused space to hurt property prices, as well as the impact of higher interest rates. The materials sector also produced a double-digit negative return as most commodity-oriented stocks declined. The financials sector was hampered by the hit to confidence in the banking system due to several bank failures. The financials and materials sectors were key drivers of the underperformance of value stocks in general. The large-cap information technology sector produced a double-digit positive return for the period. Despite economic concerns, some traditional non-cyclical sectors, such as health care and utilities, underperformed the overall market.

Consequently, low-volatility stocks generated negative returns during the period.

In this environment, the Fund underperformed relative to its benchmark, the Russell 1000^® Index, due to the Fund’s value tilt, overweights to the health care and financials sectors, security selection within the financials sector, and underweights to mega-cap growth stocks and the information technology sector.

Among Fund managers, Cullen underperformed versus the benchmark Russell 1000^® Index due to its value orientation, underweight allocations to growth stocks, and holdings in the real estate, financials and consumer staples sectors. Coho, which was subsequently removed as a Fund sub-advisor in April 2023, performed in line with the benchmark as the headwind from its underweight to the information technology sector was offset by favorable security selection within the consumer discretionary sector. LSV underperformed due to its value orientation, underweight allocations to growth stocks, and its holdings in the financials and consumer staples sectors. Acadian performed in line with the benchmark for the period as the positive contribution of its holdings in the information technology sector was offset by negative security selection effects within the industrials sector. Mar Vista’s holdings within the financials sector weighed on the manager’s performance. Alger’s outperformance relative to the benchmark Russell 1000 Index for the period was attributable to its growth orientation and large allocation to the information technology sector.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Large Cap Fund, Class A	-0.74%	11.75	8.42%	9.99%	8.25%
Russell 1000^® Index	2.45%	12.45%	10.61%	11.76%	9.24%

Comparison of Change in the Value of a $100,000 Investment in the Large Cap Fund, Class A, versus the Russell 1000^® Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 6/14/96. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and reimbursements, performance would have been lower.

I. Objective

The Large Cap Disciplined Equity Fund (the “Fund”) seeks capital appreciation.

II. Multi-Manager Approach Statement

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 1.27%. The Fund’s primary benchmark, the S&P 500 Index —a capitalization-weighted index consisting of roughly 500 large U.S. companies that are considered representative of the broad U.S. stock market—returned 2.92%.

IV. Fund Attribution

U.S. equities saw mixed performance during the 12-month reporting period due to investors’ concerns that rising interest rates, the Russia-Ukraine war, and high inflation could eventually lead to a U.S. recession. While most sectors within the benchmark S&P 500 Index posted negative returns for the period, the overall index performance was lifted by a several mega-cap growth stocks and, in particular, the information technology sector.

Real estate was the weakest-performing sector within the S&P 500 Index for the reporting period as investors were concerned about the potential for unused space to hurt property prices, along with the impact of higher interest rates. The materials sector also produced a double-digit negative return as most commodity-oriented stocks declined. The financials sector was hampered by the hit to confidence in the banking system due to several bank failures. The financials and materials sectors were key drivers of the underperformance of value stocks in general. The large-cap information technology sector produced a double-digit positive return for the period. Despite economic concerns, some traditional non-cyclical sectors, such as health care and utilities, underperformed the overall market.

Consequently, low-volatility stocks generated negative returns during the period.

In this environment, the Fund underperformed relative to its benchmark, the S&P 500 Index, for the reporting period due to its value tilt, an overweight allocation to the financials sector, and underweight positions in mega-cap growth stocks and the information technology sector.

Among Fund managers, Acadian performed in line with the benchmark as the benefit from an overweight to the information technology sector was offset by negative stock selection effects within the industrials sector. Coho underperformed as a result of its low-volatility exposure, underweight to the information technology sector, and security selection within the health care sector. Ceredex’s underperformance was attributable to its value orientation, holdings in the real estate sector, and an underweight to the information technology sector. Copeland underperformed as a result of its low-volatility exposure, as well as security selection within the energy, consumer discretionary, and consumer staples sectors. Mackenzie outperformed due to favorable security selection within the health care, industrials, and consumer discretionary sectors.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Large Cap Disciplined Equity Fund, Class A	1.27%	13.02%	9.10%	10.72%	8.54%
S&P 500 Index	2.92%	12.92%	11.01%	11.99%	9.64%

I. Objective

The Large Cap Index Fund (the “Fund”) seeks investment results that correspond to the aggregate price and dividend performance of the securities in the Russell 1000^® Index.

II. Investment Approach

The Fund uses a sub-advisor to manage the Fund under the supervision of SEI Investments Management Corporation (SIMC). The sole sub-advisor as of May 31, 2023 was SSGA Funds Management, Inc. There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 2.39%. The Fund’s benchmark, the Russell 1000^® Index—which is used to measure the performance of the U.S. large-cap equity market—returned 2.45%.

IV. Fund Attribution

In general, the primary focus of the Fund is to track, before fees and expenses, the performance of the Russell 1000^® Index. As a result, through passive management, the Fund generally captured the broad performance of the U.S. large-cap equity market over the reporting period.

U.S. equities saw mixed performance during the 12-month reporting period due to investors’ concerns that rising interest rates, the Russia-Ukraine war, and high inflation could eventually lead to a U.S. recession. While most sectors within the benchmark Russell 1000^® Index posted negative returns for the period, the overall index performance was lifted by several mega-cap growth stocks and, in particular, the information technology sector.

care and utilities, underperformed the overall market. Consequently, low-volatility stocks generated negative returns during the period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Large Cap Index Fund, Class A	2.39%	12.39%	10.56%	11.71%	8.45%
Russell 1000^® Index	2.45%	12.45%	10.61%	11.76%	8.51%

Comparison of Change in the Value of a $100,000 Investment in the Large Cap Index Fund, Class A, versus the Russell 1000^® Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 4/1/02. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and reimbursements, performance would have been lower.

I. Objective

The S&P 500 Index Fund (the “Fund”) seeks investment results that correspond to the aggregate price and dividend performance of the securities in the S&P 500 Index.

II. Investment Approach

The Fund uses a sub-advisor to manage the Fund under the supervision of SEI Investments Management Corporation (SIMC). The sole sub-advisor as of May 31, 2023, was SSGA Funds Management, Inc. There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 2.82%. The Fund’s primary benchmark, the S&P 500 Index—a capitalization-weighted index consisting of roughly 500 large U.S. companies that are considered representative of the broad U.S. stock market—returned 2.92%.

IV. Fund Attribution

U.S. equities saw mixed performance during the 12-month reporting period due to investors’ concerns that rising interest rates, the Russia-Ukraine war, and high inflation could eventually lead to a U.S. recession. While most sectors within the benchmark S&P 500 Index posted negative returns for the period, but the overall index performance was lifted by a several mega-cap growth stocks and the information technology sector, in particular.

Real estate sector was the weakest-performing sector within the S&P 500 Index for the reporting period as investors were concerned about the potential for unused space to hurt property prices, along with the impact of higher interest rates. The materials sector also produced a double-digit negative return as most commodity-oriented stocks declined. The financials sector was hampered by the hit to confidence in the banking system due to several bank failures. The financials and materials sectors were key drivers of the underperformance of value stocks in general. The large-cap information technology sector produced a double-digit positive return for the period. Despite economic concerns, some traditional non-cyclical sectors, such as health care and utilities, underperformed the overall market. Consequently, low-volatility stocks generated negative returns during the period.

With passive management, the Fund generally captured the broad performance of the U.S. large-cap equity market over the reporting period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
S&P 500 Index Fund, Class A	2.82%	12.85%	10.96%	11.30%
S&P 500 Index	2.92%	12.92%	11.01%	11.35%

Comparison of Change in the Value of a $100,000 Investment in the S&P 500 Index Fund, Class A, versus the S&P 500 Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 12/18/13. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and reimbursements, performance would have been lower.

I. Objective

The Extended Market Index Fund (the “Fund”) seeks investment results that approximate, as closely as practicable and before expenses, the performance of the Russell Small Cap Completeness Index.

II. Multi-Manager Approach Statement

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -3.11%. The Fund’s primary benchmark, the Russell Small Cap Completeness Index—which measures the performance of the Russell 3000^® Index companies excluding S&P 500 Index constituents—returned -3.12%.

IV. Fund Attribution

The 12-month reporting period was a turbulent ride for investors. For the first nine months of the period, the market remained primarily focused on the U.S. Federal Reserve’s (Fed) interest-rate hiking regime; in March, however, this gave way to a worries about a regional banking crisis.

While the U.S. equity market had been selling off for the first half of 2022, this trend temporarily reversed in the third quarter of the year in what many described as a ”bear-market rally.” Better-than-expected inflation data, as measured by the consumer-price index (CPI) early in the third quarter triggered a wave of anticipation that the Fed might pivot on its hiking scheme earlier than expected. Until about mid-August 2022, markets rallied; the most speculative, least financially sound stocks were the strongest performers. When Fed Chair Jerome Powell reiterated the central bank’s dedication to bringing inflation under control and subsequent inflation statistics were not as promising, the market resumed its downward trend, resulting in a weak performance for equities in September. Quality, low-volatility, and value stocks all underperformed the overall market for the third quarter of 2022.

50 basis points (0.50%) in December 2002, after four 0.75% increases earlier in the year to a target range of 4.25%-4.50%, while also indicating its terminal rate may be higher than initially expected (landing just above 5%). The Fed also signaled that interest rates might remain higher for longer while the results of this monetary policy tightening cycle took effect. The equity markets reacted negatively to the higher peak interest rate before stabilizing, and still appeared to be pricing in a rate cut in late in 2023.

Early in the first quarter of 2023, many stocks that had been underperforming rallied, led by higher-risk assets. However, Silicon Valley Bank, a west coast regional bank with a large venture capital depositor base, collapsed in March 2023. The bank had underestimated the number of withdrawals it would face amid a rising-rate environment, and its investments in long-term bonds further strained its capital structure. When the bank announced that it was raising equity to address this shortfall, a bank run began, forcing the institution into insolvency. First Republic and Signature Bank also shut down, and for a time it seemed as if the entire financial system was in danger. The Federal Deposit Insurance Corporation (FDIC) stepped in to make uninsured depositors whole, while larger banks made strategic deposits in an attempt to maintain liquidity at other regional institutions. This stemmed the tide of failures, but it also forced investors to realign their expectations for both credit and economic conditions for the remainder of the year.

During this period, investors flocked to the perceived safety of shares of mega-cap tech companies at the expense of smaller-cap and financial stocks. This created a meaningful headwind for the value factor, which has large representation in the financials sector. Over the ensuing two months, the U.S. equity market moved sideways as recessionary expectations persisted in the wake of the banking crisis. The financials sector saw a moderate upturn in April, and in May the Fed raised the federal funds rate again, but only by 0.25%, with the caveat that it was prepared to halt further rate hikes depending on the market’s response to higher borrowing costs.

Industrials and information technology were the strongest-performing sectors within the benchmark Russell Small Cap Completeness Index for the reporting period. Health care also outperformed, led by biotechnology and pharmaceuticals stocks. While in the large-cap universe, health care is considered to be a defensive area of the market, small-cap biotechnology and pharmaceuticals are generally proxies for riskier,

more expensive companies. The energy, real estate and communication services sectors underperformed the Russell Small Cap Completeness Index during the reporting period. Small-cap growth stocks made a significant comeback versus their small-cap value counterparts, with the Russell 2000^® Growth index returning 2.7% for the period versus the -11.5% return of the Russell 2000^® Value Index.

From a factor perspective, quality moderately outperformed the benchmark Russell Small Cap Completeness Index over the reporting period, followed by momentum to a slightly lesser degree. Value and low-volatility factors performed in line with the benchmark, with value slightly outperforming and low-volatility slightly underperforming. The first several months of the 2023 calendar year were particularly challenging for the SEI alpha sources.

The Fund was passively managed and generally performed in line with its benchmark, the Russell Small Cap Completeness Index, for the reporting period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Extended Market Index Fund, Class A	-3.11%	8.56%	5.15%	8.70%	9.28%
Russell Small Cap Completeness Index	-3.12%	8.54%	5.10%	8.66%	9.25%

I. Objective

The Small Cap Fund (the “Fund”) seeks capital appreciation.

II. Investment Approach

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -6.73%. The Fund’s benchmark, the Russell 2000^® Index—which is used to measure the activity of the U.S. small-cap equity market—returned -4.68%.

IV. Fund Attribution

As noted in the shareholder letter, the 12-month reporting period was a turbulent ride for investors. For the first half of the period, the market remained primarily focused on the U.S. Federal Reserve’s (Fed) rate-hiking regime. In March, however, this gave way to a regional banking crisis.

The U.S. equity market sold off during the first month of the reporting period in June 2022. However, this trend temporarily reversed in the third quarter of the year in what many described as a ”bear-market rally.” Better-than-expected inflation data, as measured by the consumer-price index (CPI) early in the third quarter triggered a wave of anticipation that the Fed might pivot on its hiking scheme earlier than expected. Until about mid-August 2022, markets rallied; the most speculative, least financially sound stocks were the strongest performers. When Fed Chair Jerome Powell reiterated the central bank’s dedication to bringing inflation under control and subsequent inflation statistics were not as promising, the market resumed its downward trend, resulting in a weak performance for equities in September. Quality, low-volatility, and value stocks all underperformed the overall market for the third quarter of 2022.

In the fourth quarter of 2022, the market gained ground on investors’ hopes that the inflation had peaked. This upturn stemmed further losses in what ultimately proved to be the worst calendar year for U.S. equities since 2008. The Fed raised the federal funds rate by 50 basis points (0.50%) in December 2002, after four 0.75% increases earlier in the year to a target range of 4.25%-4.50%, while also indicating its terminal rate may be higher than initially expected (landing just above 5%). The Fed also signaled that interest rates might remain higher for longer while the results of this monetary policy tightening cycle took effect. The equity markets reacted negatively to the higher peak interest rate before stabilizing, and still appeared to be pricing in a rate cut in late in 2023.

During this period, investors flocked to the perceived safety of shares of mega-cap tech companies at the expense of smaller-cap and financial stocks. This created a meaningful headwind for the value factor, which has large representation in the financials sector. Over the ensuing two months, the U.S. equity market moved sideways as recessionary expectations persisted in the wake of the banking crisis. The financials sector saw a moderate upturn in April, and in May the Federal Reserve raised the federal funds rate again, but only by 0.25%, with the caveat that it was prepared to halt further rate hikes depending on the market’s response to higher borrowing costs.

Health care was the strongest-performing sector within the benchmark Russell 2000^® Index for the reporting period, led by shares of biotechnology

and pharmaceutical firms. While in the large-cap universe, health care is considered to be a defensive area of the market, small-cap biotechnology and pharmaceuticals are generally proxies for riskier, more expensive companies. This is indicative of a challenging environment for the Fund, which is tilted toward higher-quality, lower-valuation stocks. The consumer staples and information technology sectors also outperformed the benchmark, while communication services, financials and real estate underperformed. Shares of growth companies made a significant comeback versus value stocks, with the Russell 2000^® Growth Index returning 2.7% for the period versus the -11.5% return of the Russell 2000^® Value Index.

From a factor perspective, quality moderately outperformed the benchmark Russell 2000^® Index for the reporting period, followed by momentum, albeit to a lesser degree. The low-volatility factor slightly underperformed the index. The first several months of the 2023 calendar year were particularly challenging for the SEI alpha sources.

The value style headwind weighed on Fund performance for the reporting period. The Fund’s higher-quality exposure had a slightly positive impact on performance for the period. At the sector level, stock selection in financials and consumer discretionary were the top contributors to Fund performance. An underweight allocation to real estate and overweight to consumer staples also enhanced Fund performance. Overall sector allocation had a moderately positive impact on Fund performance, but stock selection was a detractor.

One of the Fund’s five sub-advisors outperformed the benchmark Russell 2000^® Index for the reporting period. Martingale was the top contributor to Fund performance due to strong selection. Axiom and EAM both struggled because of poor stock selection, and underperformed the benchmark. LA Capital’s performance lagged that of the benchmark amid small-cap (particularly micro-cap) headwinds. LSV was the weakest- performing manager as it was unable to overcome value headwinds.

At the end of the reporting period, the Fund had overweight allocations to value and quality, as we maintain a favorable view of both factors and do not expect significant allocation changes.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Small Cap Fund, Class A	-6.73%	11.26%	3.39%	6.87%	7.54%
Russell 2000^® Index	-4.68%	9.23%	2.74%	7.36%	7.51%

Comparison of Change in the Value of a $100,000 Investment in the Small Cap Fund, Class A, versus the Russell 2000^® Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 6/14/96. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Small Cap II Fund (the ”Fund”) seeks capital appreciation.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: ArrowMark Colorado Holdings, LLC (ArrowMark), Copeland Capital Management, LLC (Copeland), EAM Investors, LLC (EAM), Leeward Investments, LLC (Leeward), Los Angeles Capital Management LLC (LA Capital) and Easterly Investment Partners LLC (Easterly). There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -4.65%. The Fund’s primary benchmark, the Russell 2000^® Index—which is used to measure the activity of the U.S. small-cap equity market—returned -4.68%.

IV. Fund Attribution

In the fourth quarter of 2022, the market gained ground on investors’ hopes that the inflation had peaked. This upturn stemmed further losses in what ultimately proved to be the worst calendar year for U.S. equities since 2008. The Fed raised the federal funds rate by 50 basis points (0.50%) in December 2022, after four 0.75% increases earlier in the year to a target range of 4.25%-4.50%, while also indicating its terminal rate may be higher than initially expected (landing just above 5%). The Fed also signaled that interest rates might remain higher for longer while the results of this monetary policy tightening cycle took effect. The equity markets reacted negatively to the higher peak interest rate before stabilizing, and still appeared to be pricing in a rate cut in late in 2023.

Early in the first quarter of 2023, many stocks that had been underperforming rallied, led by higher-risk assets. However, Silicon Valley Bank, a west coast regional bank with a large venture capital depositor base, collapsed in March 2023. The bank had underestimated the number of withdrawals it would face amid a rising-rate environment, and its investments in long-term bonds further strained its capital structure. When the bank announced that it was raising equity to address this shortfall, a bank run began, forcing the institution into insolvency. First Republic and Signature Bank also shut down, and for a time it seemed as if the entire financial system was in danger. The Federal Deposit Insurance Corporation (FDIC) stepped in to make uninsured depositors whole, while larger banks made strategic deposits in an attempt to maintain liquidity at other regional institutions. The ripples were felt globally as Swiss financial services company UBS agreed to purchase Switzerland-based financial services company Credit Suisse. This stemmed the tide of failures, but it also forced investors to realign their expectations for both credit and economic conditions for the remainder of 2023.

Health care was the strongest-performing sector within the benchmark Russell 2000^® Index for the reporting period, led by shares of biotechnology and pharmaceutical firms. While in the large-cap universe, health care is considered to be a defensive area of the market, small-cap biotechnology and pharmaceuticals are generally proxies for riskier, more expensive companies. This is indicative of a challenging environment for the Fund, which is tilted toward higher-quality, lower-valuation stocks. The consumer staples and information technology sectors also outperformed the benchmark, while communication services, financials and real estate underperformed. Shares of growth companies made a significant comeback versus value stocks, with the Russell 2000^® Growth Index returning 2.7% for the period versus the -11.5% return of the Russell 2000^® Value Index.

While the quality factor tailwind bolstered Fund performance, stock selection had a greater impact over the reporting period. The Fund outperformed its benchmark, the Russell 2000^® Index, for the period. At the sector level, both an overweight and stock selection in consumer discretionary and information technology contributed positively to Fund performance. Three of the Fund’s six managers outperformed the Fund’s benchmark during the reporting period. Easterly was the largest contributor to performance, benefiting slightly from the value tailwind; however, selection was the main driver of performance. Copeland also had a positive impact on Fund performance due to its pure implementation of the quality alpha source. Arrowmark was a positive contributor to Fund performance, benefiting from recent growth-factor tailwinds. Leeward slightly detracted from Fund performance due to its low-volatility allocation. LA Capital also weighed on Fund performance, attributable to its smaller-cap (particularly the micro-cap strategy) orientation. EAM was the weakest performing manager, hampered by poor stock selection during the period.

At the end of the reporting period, the Fund had overweight allocations to value and quality, as we maintain a favorable view of both factors and do not expect significant allocation changes.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Small Cap II Fund, Class A	-4.65%	13.11%	5.00%	8.06%	9.26%
Russell 2000^® Index	-4.68%	9.23%	2.74%	7.36%	8.93%

Comparison of Change in the Value of a $100,000 Investment in the Small Cap II Fund, Class A, versus the Russell 2000^® Index

For the year ended May 31, 2023. Class A shares were offered beginning 4/10/12. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that period; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Small/Mid Cap Equity Fund (the “Fund”) seeks long-term capital appreciation.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: ArrowMark Colorado Holdings, LLC (ArrowMark), Axiom Investors LLC (Axiom), Cardinal Capital Management, L.L.C. (Cardinal), Copeland Capital Management, LLC (Copeland), Jackson Creek Investment Advisors LLC (Jackson Creek) and LSV Asset Management (LSV). There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -8.40%. The Fund’s primary benchmark, the Russell 2500^® Index—which measures the performance of the small- to mid-cap segment of the U.S. equity universe—returned -5.34%.

IV. Fund Attribution

Information technology was the strongest-performing sector within the benchmark Russell 2500^® Index over the 12-month reporting period, followed by industrials

and consumer staples. Health care, led by biotechnology and pharmaceuticals stocks, also outperformed. While in the large-cap universe, health care is considered to be a defensive area of the market, small-cap biotechnology and pharmaceuticals are generally proxies for riskier, more expensive companies. This is indicative of a challenging environment for the Fund, which is tilted toward higher-quality, lower-valuation stocks. The energy, real estate, and financials sectors underperformed the overall market for the reporting period. Shares of growth companies made a significant comeback versus value stocks, with the Russell 2500^® Growth Index gaining 2.3% for the reporting period versus the Russell 2500^® Value’s -9.7% return. Large-cap stocks, as represented by the Russell 1000^® Index, returned 2.5% for the period, outperforming the -4.7% return of their small-cap counterparts, as measured by the Russell 2000^® Index.

From a factor perspective, quality moderately outperformed the benchmark Russell 2500^® Index for the reporting period, followed by momentum, albeit to a lesser degree. The value and low-volatility factors performed in line with the Russell 2500^® Index, with value slightly outperforming and low-volatility modestly lagging. The first several months of the 2023 calendar year were particularly challenging for the SEI alpha sources.

The Fund underperformed its benchmark, the Russell 2500^® Index, for the reporting period as alpha sources struggled to find consistent and broad outperformance. From a sector perspective, stock selection within health care, industrials, and information technology were the largest detractors. Sector positioning contributed modestly to Fund performance due to an underweight allocation to real estate.

At the sub-advisor level, Copeland and ArrowMark outperformed the benchmark Russell 2500^® Index for the period, while Cardinal, LSV, Jackson Creek and Axiom detracted from Fund performance.

Copeland was the leading positive contributor to Fund performance for the reporting period. Copeland benefited from tailwinds for the quality factor, though low-volatility underperformed, which presented a mild headwind. Stock selection within the energy, materials, and consumer staples sectors bolstered Fund performance. ArrowMark contributed moderately to Fund performance due to underweight allocations to the financials, energy, and real estate sectors, as well as tailwinds for the growth factor.

Cardinal was the largest detractor from Fund performance for the reporting period. While the portfolio faced some moderate style headwinds, stock selection had a substantially negative impact on performance—primarily a position in PacWest Bancorp. Shares of the California-based bank sold off sharply amid collateral damage during the regional bank crisis, though it did not face the same risks as Silicon Valley Bank, which collapsed in March 2023. Stock selection within the consumer discretionary sector also weighed on Fund performance.

LSV underperformed the benchmark Russell 2500^® Index during the reporting period due to weakness from the value factor. Stock selection within the materials and real estate sectors, as well as an overweight to financials, were the leading detractors from Fund performance. Jackson Creek and Axiom also underperformed the benchmark despite modestly positive returns from the momentum factor. Jackson Creek faced a modest headwind as the portfolio’s average market capitalization is generally smaller than that of the Russell 2500^® Index, while Axiom’s performance lagged that of the benchmark on weak stock selection in the information technology and health care sectors.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Small/Mid Cap Equity Fund, Class A	-8.40%	10.85%	4.12%	7.61%	7.81%
Russell 2500^® Index	-5.34%	10.31%	4.97%	8.37%	8.67%

I. Objective

The U.S. Equity Factor Allocation Fund (the “Fund”) seeks the long-term growth of capital and income.

II. Investment Approach

The Fund is directly managed by SEI Investments Management Corporation (SIMC or the Investment Advisor). There were no manager changes made during the fiscal period. SIMC will invest directly in equity securities utilizing a quantitative style of investing which uses a model-based approach to facilitate investment decisions. The quantitative method used by the Fund categorizes and selects securities based on specific characteristics (factors) determined by SIMC. Such factors may include security characteristics such as volatility, value, size or share price performance. The Investment Advisor uses its judgment and model-based systems to assess the factors used and to determine the weights allotted to those factors in portfolio construction. Based on market opportunities, and at its discretion, SIMC may tilt the Fund’s factor exposures by changing its allocation to the factors. The Investment Advisor may add, remove or modify certain factors in its model depending on investment research or market conditions.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -0.57%. The Fund’s primary benchmark, the Russell 3000^® Index—which represents approximately 98% of the investable U.S. equity market and measures the equity performance of the 3000 largest U.S. companies—returned 2.03%.

IV. Fund Attribution

Inflation, the U.S. Federal Reserve’s (Fed) monetary policy tightening, and recession expectations drove investor sentiment over the 12-month reporting period. The popularity of Chat GPT also fueled a buying frenzy in artificial intelligence (AI)-related stocks and sectors, while the collapse of Silicon Valley Bank and Signature Bank in March 2023, sparked a selloff in the financials sector. Early signs of disinflation contributed to outperformance in sectors such as information technology and consumer discretionary. Furthermore, investors’ perception of the relative safety of “Big Tech” stocks in navigating potential recession resulted in significant headwinds to diversity factors.

The Fund underperformed its primary benchmark, the Russell 3000^® Index, over the reporting period due mainly to the negative impact of the value strategy, which was partially offset by relative strength in the

quality strategy. Within the value strategy, the financials sector was the largest detractor from Fund performance, particularly in financial services and banks. Similarly, the strategy’s performance lagged within the information technology sector, due to holdings in struggling semiconductor companies and underweight allocations to profitable mega-cap technology stocks.

In contrast, the Fund’s quality strategy benefited from the favorable environment for quality investing. The strategy’s performance was bolstered by overweight allocations and security selection in communication services, particularly media and entertainment, as well as an underweight to financials, specifically financial services and insurance. The momentum and low- volatility strategies saw relatively flat performance over the reporting period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
U.S. Equity Factor Allocation Fund, Class A	-0.57%	13.41%	9.73%	9.90%
Russell 3000^® Index	2.03%	12.25%	10.07%	10.31%

Comparison of Change in the Value of a $100,000 Investment in the U.S. Equity Factor Allocation Fund, Class A, versus the Russell 3000^® Index

For the year ended May 31, 2023. Class A shares were offered beginning 4/26/18. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that

I. Objective

The U.S. Managed Volatility Fund (the “Fund”) seeks capital appreciation with less volatility than the broad U.S. equity markets.

II. Investment Approach

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -3.75%. The Fund’s primary benchmark—the Russell 3000^® Index—which represents approximately 98% of the investable U.S. equity market and measures the equity performance of the 3000 largest U.S. companies—returned 2.03%.

IV. Fund Attribution

The 12-month reporting period was unfavorable for low-volatility investing as the global equity markets gained ground through the end of 2022 and into 2023. Implied equity market volatility generally declined over the period, as developed economies have showed signs of emerging from a period of hawkish posturing to fight inflation risk, to one where expectations of rate hikes have begun to taper off. Geopolitical tensions from the ongoing war between Russia and Ukraine remained mostly in the backdrop for global equity market performance. Risk-taking appetite instead has increased over the year. On several occasions in 2022 and more notably in 2023, investors quickly rotated back into mega-cap growth stocks and riskier high-beta (a measure of a security’s volatility relative to a benchmark) securities, driving the majority of the gains of the benchmark Russell 3000^® Index.

The Fund posted a negative total return in the choppy environment for U.S. equities over the reporting period, while continuing to deliver a meaningful risk reduction (as indicated by the standard deviation, a statistical measure of the historical volatility of an investment) compared to its benchmark. Low-volatility strategies run a below-market beta of approximately 0.70, and by design lag behind capitalization- weighted benchmarks during market upturns. Low-volatility stocks modestly

underperformed riskier stocks over the period. The Fund’s allocations to defensive sectors such as consumer staples and utilities provided relatively muted returns amid an environment in which the volatile technology sector led the market.

The Fund’s overall performance was further hampered by the focus on attractively valued securities, which lagged the performance of stocks with high valuation and growth characteristics. Low-volatility and portfolio diversification objectives translated into an underweight to relatively riskier growth stocks, which proved to be a resilient segment of the market into which investors rotated. Consequently, the Fund’s lack of exposure to growth stocks detracted from performance for the period.

Both of the Fund’s subadvisors faced similar headwinds during the reporting period from low-volatility and defensive sector allocations, as well as tilts toward value and away from large-/mega-cap growth. LSV underperformed the benchmark to the greatest extent, as it held more concentrated exposure to value within the low-volatility segment of the market. Allspring was also challenged from exposure to value through its deeper defensive sector allocations; market-cap size diversification detracted from Fund performance to a larger extent over the period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
U.S. Managed Volatility Fund, Class A	-3.75%	9.03%	6.71%	9.26%	11.21%
Russell 3000^® Index	2.03%	12.25%	10.07%	11.45%	13.27%
75/25 Blended Benchmark of MSCI USA Minimum Volatility Index & Russell 3000^® Value Index²	-1.87%	8.20%	8.03%	9.92%	11.78%

Comparison of Change in the Value of a $100,000 Investment in the U.S. Managed Volatility Fund, Class A, versus the Russell 3000^® Index and the 75/25 Blended Benchmark of the MSCI USA Minimum Volatility Index and the Russell 3000^® Value Index ("Secondary Benchmark")

For the year ended May 31, 2023. Class A shares were offered beginning 12/31/08. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

This table compares the Fund’s average annual total returns to those of a broad-based index and the Fund's 75/25 Blended Benchmark, which consists of the MSCI USA Minimum Volatility Index and the Russell 3000^® Value Index. The Fund's Blended Benchmark is designed to provide a useful comparison to the Fund's overall performance and more accurately reflect the Fund's investment strategy than the broad-based index.

I. Objective

The Global Managed Volatility Fund (the “Fund”) seeks capital appreciation with less volatility than the broad global equity markets.

II. Investment Approach

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -0.62%. The Fund’s primary benchmark, the MSCI World Index (Net)—a capitalization-weighted index that is designed to measure the equity market performance of developed markets—returned 2.07%.

IV. Fund Attribution

The 12-month reporting period was unfavorable for low-volatility investing as the global equity markets gained ground through the end of 2022 and into 2023. Implied equity market volatility generally declined over the period, as developed economies have showed signs of emerging from a period of hawkish posturing to fight inflation risk, to one where expectations of rate hikes have begun to taper off. Geopolitical tensions from the ongoing war between Russia and Ukraine remained mostly in the backdrop for global equity market performance. Risk taking appetite instead has increased over the year. On several occasions in 2022 and more notably in 2023, investors quickly rotated back into mega-cap growth stocks and riskier high-beta (a measure of a security’s volatility relative to a benchmark) securities, driving the majority of the gains of the benchmark MSCI World Index.

The Fund posted a slightly negative total return during the reporting period in the choppy environment for global equities, while it continued to deliver meaningful risk reduction (as indicated by the standard deviation, a statistical measure of the historical volatility of an investment) compared to its benchmark, the MSCI World Index. Low-volatility strategies run a below-market beta of approximately 0.70, and by design lag

the performance of capitalization-weighted benchmark indexes during market upturns. Low-volatility stocks modestly underperformed riskier stocks over the reporting period. Fund performance for the period was further hampered by its additional focus on attractively valued securities, which underperformed those with high valuation and growth characteristics. Low-volatility and portfolio diversification objectives resulted in an underweight allocation to riskier growth stocks, which proved to be a resilient area of the market into which investors rotated. The Fund’s underweight positioning in growth stocks detracted from performance for the period.

The Fund’s three sub-advisors underperformed the benchmark MSCI World Index as the strategies all faced similar headwinds from low-volatility and defensive sector allocations, as well as tilts toward value and away from large- and mega-cap growth stocks. LSV was the most notable laggard, the sub-advisor held the most concentrated exposure to value within the low-volatility segment of the market. Allspring also underperformed due to the exposure to value stocks as their trend-following inputs shifted systematically towards those themes over the reporting period. Acadian held the least concentrated exposure to value stocks compared to the other Fund managers, though its diversified multifactor alpha model (which tracks the return on an asset in terms of the asset’s risk with respect to a set of factors) proved more effective over the reporting period, by allowing for greater allocation to quality stocks and shares of select mega-cap tech companies.

During the reporting period, the Fund used derivatives to hedge currency risk. Hedging currency risk had a positive effect in the environment of a strengthening U.S. dollar against major currencies globally.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
Global Managed Volatility Fund, Class A	-0.62%	8.69%	5.55%	7.68%
MSCI World Index (Net)	2.07%	10.96%	7.79%	10.25%
MSCI World Minimum Volatility Index (Net)	-0.96%	4.60%	5.35%	7.03%

I. Objective

The objective of the World Equity Ex-US Fund (the “Fund”) is to provide capital appreciation.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: Acadian Asset Management LLC (Acadian), Delaware Investments Fund Advisers, a series of Macquarie Asset Management Business Trust (Macquarie), Lazard Asset Management LLC (Lazard), Pzena Investment Management, LLC (Pzena), Jupiter Asset Management Ltd. (Jupiter), and Allspring Global Investments, LLC (Allspring). Pzena and Jupiter were hired and AllianceBernstein L.P. (AllianceBernstein), JOHCM (USA) Inc. (JO Hambro) and McKinley Capital Management, LLC (McKinley) were terminated during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -3.47%. The Fund’s primary benchmark—the MSCI All Country World Ex-US Net—returned -1.41%.

IV. Fund Attribution

Global equity markets outside of the U.S., as represented by the MSCI All Country World Ex-US Net, posted modestly negative returns over the 12-month reporting period, with most of the decline coming in the summer and early autumn of 2022. Following a downturn for much of the 2022 calendar year, equity markets experienced a change in sentiment starting in October of last year. Inflationary pressures, or at least the market’s expectations of future inflation, began to ease. While central banks globally continued to raise short- term interest rates over the past 12 months, longer-term rates have not moved much higher. Breakeven inflation rates (nominal U.S. Treasury yields minus TIPS yields), which generally serve as a gauge of forward inflation expectations, also continued to decline over the reporting period, Energy prices, particularly oil, fell sharply over the period. In October 2022, China began to loosen its COVID-induced lockdown policy and focus on reopening its economy, which propelled global equity markets higher as China is the second-largest economy in the world.

European equities were the strongest performing region within the MSCI All Country World Ex-US Net over the 12-month reporting period, followed by Japan. Both the emerging and developed markets in the Asia ex-Japan region, along with Latin America, were the primary market laggards for the period.

Sector performance was divergent during the reporting period. The materials (especially large mining stocks), real estate and communication services sectors underperformed the overall MSCI All Country World Ex-US Net. Mega-cap stocks in Europe generally performed well, especially the large bellwether consumer staples and health care companies. The energy and financials (especially banks) sectors underperformed the broader benchmark index. Information technology (semiconductor manufacturers and software companies) also performed well as growth investing came back in vogue in 2023.

From an alpha source perspective, the value factor underperformed the MSCI All Country World Ex-US Net in developed markets but outperformed in emerging markets over the reporting period, as its preference for energy and material stocks was a detractor. The momentum factor underperformed by the widest margin during the period as the volatile markets and investors’ shifting preferences made it difficult for trends to be sustained for a period of time. The quality factor was the strongest performing alpha source, benefiting from its preference for large-cap pharmaceutical stocks and consumer luxury brands. Low-volatility performed in line with the MSCI All Country World Ex-US Net – outperforming in emerging markets, but underperforming in developed markets.

The Fund underperformed its benchmark, the MSCI All Country World Ex-US Net, over the 12-month reporting period. Fund performance was hampered by overweight allocations to value and momentum factors. While the Fund also was positioned with an overweight to quality, this was not enough to offset the underperformance from value and momentum. At the regional level, the Fund’s overweight allocation to Europe bolstered performance, but was offset by an underweight to Japan.

The performance of the Fund’s sub-advisors was slightly below our expectations during the reporting period, particularly JO Hambro, which was removed as a Fund manager in April 2023. JO Hambro’s momentum growth had not performed well over the previous year. Acadian’s performance also lagged that of the benchmark MSCI All Country World Ex-US Net due to its momentum bias. Macquarie (low-volatility), Pzena (value), and Lazard

International Quality Growth (quality) were the top contributors to Fund performance for the period; Pzena has been a Fund manager since October 2022.

Overall, we believe that the factor environment has been difficult, but we have conviction in the Fund’s positioning going forward. Valuation spreads are still historically wide, so we maintain our preference for value. We believe that quality stocks also have become incrementally more attractive over the past several years. We feel that the Fund’s momentum position is diversified and currently does not appear to be concentrated or risky. Given the Fund’s sub-advisor changes over the past year into managers in which we have higher conviction and the overweight to all three alpha sources, we believe that the Fund is well positioned going forward.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
World Equity Ex-US Fund, Class A	-3.47%	6.83%	2.26%	4.25%	4.41%
MSCI All Country World Ex-US Net Index	-1.41%	7.23%	2.22%	3.83%	4.61%

Comparison of Change in the Value of a $100,000 Investment in the World Equity Ex-US Fund, Class A, versus the MSCI All Country World Ex-US Net Index

I. Objective

The Screened World Equity Ex-US Fund (the “Fund”) seeks capital appreciation.

II. Investment Approach

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -2.55%. The Fund’s primary benchmark—the MSCI All Country World Ex-US Net Index returned -1.41%.

IV. Fund Attribution

Global equity markets outside of the U.S., as represented by MSCI All Country World Ex-US Net Index, posted modestly negative returns over the 12-month reporting, with most of the decline coming in the summer and early autumn of 2022. Following a downturn for much of 2022, equity markets experienced a change in sentiment starting in October of last year. Inflationary pressures, or at least the market’s expectations of future inflation, began to ease. While central banks globally continued to raise short- term interest rates over the past 12 months, longer-term rates have not moved much higher. Breakeven inflation rates (nominal U.S. Treasury yields minus TIPS yields), which generally serve as a gauge of forward inflation expectations, also continued to decline over the reporting period, Energy prices, particularly oil, fell sharply over the period. In October 2022, China began to loosen its COVID-induced lockdown policy and focus on reopening its economy, which propelled global equity markets higher as China is the second-largest economy in the world.

European equities were the strongest performing region within the MSCI All Country World Ex-US Net Index over the 12-month reporting period, followed by Japan. Both the emerging and developed markets in the Asia ex-Japan region, along with Latin America, were the primary market laggards for the period.

Sector performance was divergent during the reporting period. The materials (especially large mining stocks), real estate and communication services sectors underperformed the overall MSCI All Country World Ex-US Net Index. Mega-cap stocks in Europe generally performed well, especially the large bellwether consumer staples and health care companies. The energy and financials (especially banks) sectors underperformed the broader benchmark index. Shares of information technology (particularly semiconductor manufacturers and software companies) also performed well as growth investing come back in vogue in 2023.

From an alpha source perspective, the value factor underperformed the MSCI All Country World Ex-US Net Index in developed markets but outperformed in emerging markets over the reporting period, as its preference for energy and material stocks was a detractor. The momentum factor underperformed by the widest margin during the period as the volatile markets and investors’ shifting preferences made it difficult for trends to be sustained for a period of time. The quality factor was the strongest-performing alpha source, benefiting from its preference for large-cap pharmaceutical stocks and consumer luxury brands. Low-volatility performed in line with the MSCI All Country World Ex-US Net Index —outperforming in emerging markets, but underperforming in developed markets.

The Fund underperformed its benchmark, the MSCI All Country World Ex-US Net Index, over the 12-month reporting period. Fund performance was hampered by overweight allocations to value and momentum factors. While the Fund also was positioned with an overweight to quality, this was not enough to offset the underperformance from value and momentum. At the regional level, the Fund’s overweight allocation to Europe bolstered performance, but was offset by an underweight to Japan.

The Fund’s sub-advisors posted negative returns during the reporting period, though within our expectations. Acadian is one of the larger manager weights in the Fund and it lagged due to its momentum bias. Allspring (value) outperformed despite the lagging performance of the value factor. Lazard (quality) was the best performing manager over the reporting period, consistent with the outperformance of the quality factor.

incrementally more attractive over the past several years. We feel that the Fund’s momentum position is diversified and currently does not appear to be concentrated or risky. Given the Fund’s sub-advisor changes over the past year into managers in which we have higher conviction and the overweight to all three alpha sources, we believe that the Fund is well positioned going forward.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Screened World Equity Ex-US Fund, Class A	-2.55%	8.81%	3.81%	5.80%	3.39%
MSCI All Country World Ex-US Net Index	-1.41%	7.23%	2.22%	3.83%	2.58%

Comparison of Change in the Value of a $100,000 Investment in the Screened World Ex-US Equity Fund, Class A, versus the MSCI All Country World Ex-US Net Index

For the year ended May 31, 2023. Class A shares were offered beginning 6/30/08. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The objective of the World Select Equity Fund (the “Fund”) is to provide capital appreciation.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: AS Trigon Asset Management, LSV Asset Management (LSV), Mackenzie Investments Corporation, Metropole Gestion SA, Poplar Forest Capital LLC (Poplar), Rhicon Currency Management Pte Ltd (Rhicon), Sompo Asset Management Co., Ltd., StonePine Asset Management, Inc. (StonePine) and Towle & Co (Towle). SIMC also directly manages a portion of the Fund’s assets. PineStone was added during the fiscal year. Fiera Capital Inc. (Fiera), Fondmaeglerselskabet Maj Invest A/S (Maj Invest), and INTECH Investment Management LLC (INTECH) were terminated during the fiscal year.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -0.51%. The Fund’s primary benchmark, the MSCI All Country World Index Net Index —a capitalization-weighted index that measures the equity performance of large- and mid-cap securities in developed and emerging markets—returned 0.85%.

IV. Fund Attribution

Inflation expectations and the pace of monetary-policy tightening drove the market sentiment over the 12-month reporting period, as investors feared recession in the environment of slowing global economic growth and record-low unemployment rates. Market participants sought relative safety in higher-quality, profitable businesses with strong competitive advantages, and favored risk-averse trades, when central banks globally reaffirmed their commitment to proceed with interest-rate hikes despite early signs of moderating inflation. The Silicon Valley Bank collapse rippled through the markets in March 2023, and prompted monetary policymakers to reconsider the path of interest rates, which changed the investment landscape. As inflation peaked and the pace of interest-rate increases moderated, growth stocks stepped into the spotlight, with shares of mega-cap technology companies leading a strong “risk-on” rally.

During the first half of the reporting period, emerging markets underperformed the rest of the world equity markets as China's zero-COVID policy hampered the country’s economic development and weighed on regional stock markets. In October 2022, China began to loosen its COVID-induced lockdown policy and focus on reopening its economy. While the performance of U.S. equities was supported by mega-cap quality-growth companies, emerging-market investors focused on less- volatile shares amid geopolitical tensions and economic uncertainty, and favored value over growth.

The Fund underperformed its benchmark, the MSCI ACWI (Net), for the reporting period amid a challenging environment for most actively managed strategies. The Fund’s diversified positions implemented through regional fundamental value managers and a global managed volatility specialist comprised most of the Fund’s underperformance in a “big tech” rally. On the positive side, the Fund’s exposure to high-quality stocks within the U.S. and an allocation to an Emerging Europe specialist contributed to performance. Regarding sector allocation, an underweight to richly valued technology shares and semiconductor businesses was the main detractor from Fund performance for the period, whereas good stock selection within banking sector was a contributor.

Among regional sub-advisors, Poplar and Towle (U.S. Value) experienced the strongest style headwinds due to the positioning against the crowded technology trade. Negative stock-specific factors in financial services further weighed on Poplar’s performance, while Towle’s smaller-size, deeper-value implementation resulted in negative stock selection in the consumer discretionary and materials sectors.

Conversely, Trigon (Emerging Europe Value) benefited from strong performance to regional equities underpinned by strong corporate earnings and double-digit returns from the profitable and well-capitalized banking sector. Underweight positions in Polish energy and materials stocks, along with stock selection in Kazakhstan, Hungary and Turkey, also enhanced the Fund’s performance relative to the benchmark MSCI ACWI Index. StonePine (U.S. Quality) contributed positively to Fund performance, supported by investing-style tailwinds and stock selection in the retail and financials sectors.

Regarding global specialists, LSV (Global Managed Volatility) posted negative returns for the reporting period. The manager surrendered gains from early in the reporting period in the market rally in the beginning of

2023. LSV’s secondary exposure to attractively valued areas within the low-volatility space also weighed on Fund performance. Finally, SIMC (Global Momentum) was a detractor from Fund performance for the period as the manager encountered difficulty navigating the market’s rotation away from value stocks into growth companies

Any frictional cash positions in the portfolio were equitized through index futures to be fully invested in the market at all times.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
World Select Equity Fund, Class A	-0.51%	13.69%	5.20%	6.85%
MSCI All Country World Net Index	0.85%	10.07%	6.77%	7.62%

Comparison of Change in the Value of a $100,000 Investment in the World Select Equity Fund, Class A, versus the MSCI All Country World Net Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 6/30/17. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Emerging Markets Equity Fund (the “Fund”) seeks capital appreciation.

II. Multi-Manager Approach Statement

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation. The Fund utilized the following sub-advisors as of May 31, 2023: Causeway Capital Management LLC (Causeway), JOHCM (USA) Inc. (JO Hambro), KBI Global Investors (North America) Ltd. (KBI), Robeco Institutional Asset Management US Inc. (Robeco), RWC Asset Advisers (US) LLC (RWC) and WCM Investment Management, LLC (WCM). There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -4.83%. The Fund’s primary benchmark—the MSCI Emerging + Frontier Markets Index (Net)—returned -8.50%.

IV. Fund Attribution

Emerging-market stocks declined during the reporting period amid slowing global economic growth expectations. Chinese equities were a large drag on the performance of the benchmark MSCI EFM Index as the real estate sector and overall economy continued to grapple with the effects of a monetary policy-driven slowdown in growth. Although outpacing the benchmark index, Korean and Taiwanese stocks also posted negative returns due to investors’ concerns over oversupply and weak demand within the semiconductor sector. Indian and Indonesian equities outperformed the broader Asian market, driven by resilient economic growth. In Indonesia, strong demand for commodity exports helped to fuel the outperformance. Within Latin America, Brazilian equities were hampered by investors’ concerns over the outcomes of Brazil’s presidential elections and the direction of future government policy. Chilean equities also saw negative returns due to political instability in that country. Mexican stocks were a bright spot as the U.S.-led shift away from Chinese supply-chain reliance led to greater investment directed to Mexico. The Europe, Middle East and Africa (EMEA) region saw divergent returns among its constituent countries, with Eastern European countries outperforming the benchmark MSCI EFM Index, while the Middle East and South Africa underperformed the index.

Real estate was the weakest-performing sector within the MSCI EFM Index over the reporting period due to continued weakness within the Chinese real estate sector. The utilities and consumer discretionary sectors also performed poorly. Utility stocks underperformed due to a massive selloff following a short seller report targeting Indian utility companies. The consumer discretionary sector underperformed due to losses within Chinese and Brazilian retailers. The performance of the materials and communication services sectors also lagged that of the index due to weakness in China. Consumer staples and energy were the strongest-performing sectors for the period. Consumer staples companies exhibited strong fundamental performance during periods of weak market sentiment, while energy companies outperformed for myriad reasons, including investors’ perception of decreasing political interference within Brazil, which benefited Brazil’s largest energy companies.

The Fund outperformed its benchmark, the MSCI EFM Index, over the reporting period. Fund performance was bolstered mainly by allocations to small-cap stocks in frontier and emerging markets and an overweight to value stocks, which outperformed the index. The Fund’s holdings in the financials sector was the largest contributor to performance due to outsized gains from banks in smaller countries that had strong macroeconomic backdrops or experienced rebounds from market downturns. Positions in the real estate and industrials sectors also enhanced Fund performance attributable to the exposure to smaller niche property markets and strength across transportation stocks. From a regional perspective, EMEA was the primary contributor to Fund performance due to strength within the United Arab Emirates (UAE) and overweight allocations to Greece and Kazakhstan, both of which experienced rebounding economic conditions following earlier market selloffs. Asia also contributed positively to Fund performance due to strong gains from Taiwan and India. However, Fund performance was hampered by positions in Thailand and Korea. Latin America contributed modestly to Fund performance attributable to holdings in Chile and Argentina.

Regarding Fund managers, RWC was among the biggest contributors to performance for the reporting period. RWC garnered strong gains due to positions across the banking sector in multiple rebounding frontier-market countries, and in the Middle Eastern real estate sector, which are experiencing positive growth from favorable demographic trends. JO Hambro was another major positive contributor to performance as the small-cap

manager was not exposed to large underperforming companies in China and Korea. JO Hambro achieved favorable results from holdings in the industrials and health care sectors. Robeco was a major positive contributor as well due to its value investing philosophy. The outperformance of value stocks within emerging markets led to Robeco’s strong gains in Korea, Greece, and Hungary. Causeway performed in line with the benchmark MSCI EFM Index for the period, as gains from positions in the financials and energy sectors were offset by losses within materials. KBI also performed in line with the benchmark, with notable gains in information technology and energy were offset by losses from holdings in the industrials and consumer discretionary sectors. KBI’s dividend-yield philosophy resulted in underweight exposure to stronger-performing segments of the market such as India and Indonesia. WCM slightly underperformed the benchmark for the reporting period, as weakness within the health care and communication services sectors offset a modest tailwind for the manager’s holdings in higher-quality stocks.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
Emerging Markets Equity Fund, Class A	-4.83%	8.45%	1.58%	3.08%
MSCI Emerging + Frontier Markets Index (Net)	-8.50%	3.45%	-0.67%	1.63%

Comparison of Change in the Value of a $100,000 Investment in the Emerging Markets Equity Fund, Class A, versus the MSCI Emerging + Frontier Markets Index (Net)

I. Objective

The Opportunistic Income Fund (the “Fund”) seeks capital appreciation and income.

II. Multi-Manager Approach Statement

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 4.44%. The Fund’s benchmark, the ICE BofA USD 3-Month Deposit Offered Rate Constant Maturity Index—which measures the return on U.S. dollar deposits with a three-month maturity—returned 3.12%.

IV. Fund Attribution

During the first half of the 12-month reporting period, risk assets generally sold off as the U.S. Federal Reserve (Fed) tightened monetary policy in an unprecedented fashion in an effort to combat persistent inflation. At the beginning of the 2023 calendar year, inflation, while still elevated, began to moderate and optimism grew that the Fed would be closer to the end of its interest rate-hiking cycle. The Fed did reduce the magnitude of its federal funds rate hikes moving to increments of 25 basis points (0.25%) in February, March, and May 2023, following an increase of 50 basis points and four consecutive 75-basis point rate hikes prior to that. While economic growth slowed as monetary policy tightening and rising input costs challenged corporate profit margins, unemployment remained historically tight, and reached a record low of 3.4% in April 2023, cooling expectations of an impending recession. Recessionary fears reached their peak in March 2023, on developing concerns of the banking sector emanating from the collapse of Silicon Valley Bank and UBS’s government-induced acquisition of Credit Suisse. At the end of the reporting period, risks of broader systemic failures in the banking sector moderated and appear to have been contained to a few idiosyncratic situations. Initially, there were lower expectations for the future path of Fed monetary policy and interest rates as banking sector volatility served to tighten lending standards. However, the central bank

implemented two more rate increases at both its March and May meetings, reducing the market’s expectations for rate cuts later in 2023.

Yields increased substantially across the U.S. Treasury curve during the reporting period as inflation remained persistent and the Fed continued to tighten monetary policy aggressively and in an unprecedented fashion. The yield curve inverted during the period as investors priced in slowing longer-term growth and the belief that the Fed will ultimately bring inflation back to its target of 2%. Five-year Treasury note yields rose by 93 basis points over the 12-month period, while the 10-and 30-year yields increased by 79 and 78 basis points, respectively. The rise in yields led to negative absolute returns for U.S. Treasuries over the period. The performance of spread sectors was generally positive for the period. Corporates generated positive excess returns versus comparable-duration Treasurys during the period as corporate earnings generally exceeded investors’ expectations, the economy remained resilient, and credit spreads remained range-bound. From a credit-quality perspective, BBB rated issues outperformed higher-quality bonds. Agency mortgage-backed securities (MBS) underperformed comparable-duration Treasurys on technical headwinds, with the Fed ending its MBS purchases and beginning its balance-sheet reduction. Asset-backed securities (ABS) outperformed during the reporting period as consumer spending remained resilient amid record employment levels. However, cracks did begin to emerge in fundamentals as debt levels rose given rising auto costs and increased credit-card balances. Commercial mortgage-backed securities (CMBS) underperformed, particularly within the office sector, as remote work remains prevalent and occupancy levels are challenged.

The Fund’s allocation to spread sectors contributed to the outperformance relative to its benchmark, the ICE BofA USD 3-Month Deposit Offered Rate Constant Maturity Index, for the reporting period. The Fund’s allocation to bank loans bolstered performance as the sector benefited from rising interest rates. Securitized sectors, including an allocation to AAA rated collateralized loan obligations (CLOs) contributed to performance. Fund performance also benefited from allocations to corporate subsectors such as industrials and financials. Conversely, an allocation to agency mortgage-backed securities (MBS) detracted from Fund performance for the period.

Among Fund managers, Ares and Manulife outperformed the benchmark for the reporting period, while Wellington underperformed. Ares was the strongest-

performing manager as loans outperformed fixed-rate spread sectors such as corporate bonds. Wellington underperformed given an allocation to non-agency MBS. Allocations to asset-backed securities (ABS) and corporate bonds were positive contributors to performance.

The Fund used U.S. Treasury futures and to-be-announced (TBA) forward contracts (TBA contracts confer the obligation to buy or sell future debt obligations of the three U.S. government-sponsored agencies that issue or guarantee MBS—Fannie Mae, Freddie Mac and Ginnie Mae) to manage duration, yield-curve and market exposures. None of these had a meaningful impact on the Fund’s performance for the reporting period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Opportunistic Income Fund, Class A	4.44%	3.47%	2.80%	2.74%	1.50%
ICE BofA USD 3-Month Deposit Offered Rate Constant Maturity Index	3.12%	1.14%	1.66%	1.13%	1.41%

I. Objective

The Core Fixed Income Fund (the “Fund”) seeks current income consistent with the preservation of capital.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: Allspring Global Investments, LLC (Allspring), Jennison Associates LLC (Jennison), MetLife Investment Management, LLC (MetLife), Metropolitan West Asset Management, LLC (MetWest), Western Asset Management Company, LLC (Western) and Western Asset Management Company Limited. There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -2.16%. The Fund’s primary benchmark, the Bloomberg U.S. Aggregate Bond Index—a capitalization-weighted index that measures the performance of intermediate-term investment-grade bonds in the U.S.—returned -2.14%.

IV. Fund Attribution

few idiosyncratic situations. Initially, there were lower expectations for the future path of Fed monetary policy and interest rates as banking sector volatility served to tighten lending standards. However, the central bank implemented two more rate increases at both its March and May meetings, reducing the market’s expectations for rate cuts later in 2023.

The Fund’s duration posture was extended early in the reporting period and detracted from performance as the Fed raised the federal funds rates in 75-basis point increments at an unprecedented four consecutive meetings between June and November 2022. An overweight allocation to corporate credit enhanced Fund performance for the period as the sector generated positive excess returns. Additionally, security selection, particularly within the banking sector, contributed positively to performance as the Fund’s managers preferred money center banks. Positioning within ABS bolstered Fund performance as floating-rate structures

such as AAA rated collateralized loan obligations (CLOs) benefited from the rise in interest rates over the reporting period. Security selection within CMBS contributed positively to performance as the Fund’s managers favored senior structures, whereas an overweight to the sector detracted from performance amid broader concerns about commercial real estate that developed late in the period. Positioning within agency MBS had a positive impact on performance for the reporting period as the Fund shifted from an underweight to an overweight to the sector, while security selection within MBS enhanced performance as the Fund’s managers invested in specified pools relative to to-be-announced (TBA) securities (TBA contracts confer the obligation to buy or sell future debt obligations of the three U.S. government-sponsored agencies that issue or guarantee MBS—Fannie Mae, Freddie Mac and Ginnie Mae).

Among Fund managers, MetLife, Allspring, Jennison and MetWest outperformed the benchmark during the reporting period, while Western underperformed. Allspring was the strongest-performing manager, benefiting from security selection within agency MBS. An overweight to the MBS sector detracted from performance. MetLife benefited from positioning within ABS as well as security selection in the corporate sector. MetLife’s overweight allocations to agency MBS and CMBS detracted from Fund performance. MetWest’s outperformance was attributable to security selection in financials and agency MBS, while a primarily long duration posture was a drag on performance. Jennison performed in line with the benchmark, benefiting from conservative security selection within CMBS, while defensive positioning within the credit sector weighed on performance. Western lagged the benchmark index during the reporting period due to a long duration posture as interest rates continued to rise. An overweight to corporate credit and positioning within ABS were positives.

The Fund employed U.S. Treasury futures and interest-rate swaps to assist in managing the Fund’s duration and yield positioning. The Fund used currency forward contracts in an effort to manage currency exposures. Credit default swaps were employed to manage the Fund’s credit risk. The Treasury futures, credit default swaps, and interest-rate swap positions had limited impact on Fund performance for the period as they were used primarily for risk management purposes. Security selection within the currency forward positions had a modestly positive impact on Fund performance for the reporting period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Core Fixed Income Fund, Class A	-2.16%	-3.31%	1.23%	1.89%	4.84%
Bloomberg U.S. Aggregate Bond Index	-2.14%	-3.65%	0.81%	1.39%	4.36%

Comparison of Change in the Value of a $100,000 Investment in the Core Fixed Income Fund, Class A, versus the Bloomberg U.S. Aggregate Bond Index

For the year ended May 31, 2023. Class A shares were offered beginning 6/14/96. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The High Yield Bond Fund (the “Fund”) seeks total return.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: Ares Capital Management II, LLC (Ares), Benefit Street Partners, LLC (Benefit), Brigade Capital Management, LP (Brigade), J.P. Morgan Investment Management, Inc. (JP Morgan) and T. Rowe Price Associates, Inc. (T. Rowe). SIMC also directly manages a portion of the Fund. There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -1.20%. The Fund’s benchmark, the ICE BofA U.S. High Yield Constrained Index—which tracks the performance of below-investment grade, U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market—returned -0.17%.

IV. Fund Attribution

Fund performance for the reporting period was hampered by security selection within the health care and basic industry sectors, as well as an overweight allocation and security selection within the media sector. Defaults gradually increased throughout the period and credit downgrades exceeded upgrades by a wide margin, suggesting even more defaults in the immediate future. However, defaults are still below their historical averages and other metrics of financial health, such as the debt/EBITDA (earnings before interest, taxes, depreciation and amortization) ratio, interest coverage, and the cash/debt ratio, which remain reasonably healthy. The Fund’s longstanding allocation to structured credit benefited performance for the reporting period. Yields on collateralized loan obligations (CLOs) and other floating-rate fixed-income products increased over the period as a result of aggressive interest-rate hikes from the U.S. Federal Reserve, allowing these securities to outperform more traditional fixed-income assets.

Among the Fund’s managers, the performance of Ares lagged due to security selection within healthcare and basic industry. Benefit Street underperformed due to an overweight and security selection within media and an underweight and security selection within energy. Brigade’s performance lagged due to an overweight and security selection within the healthcare and media sectors. JP Morgan underperformed due to an overweight and selection within retail and healthcare. T. Rowe’s outperformance for the reporting period was attributable to an overweight and security selection within consumer goods, along with an underweight and security selection within banking.

The Fund used derivatives throughout the 12-month reporting period as a way to manage duration (a measure of a security’s price sensitivity to changes in interest rates), yield-curve positioning, and spread duration in an efficient manner. The Fund employed credit-related derivatives, which had a modestly negative impact on overall Fund performance.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
High Yield Bond Fund, Class A	-1.20%	5.57%	3.59%	4.40%	6.52%
ICE BofA U.S. High Yield Constrained Index	-0.17%	2.97%	2.90%	3.88%	6.14%

I. Objective

The Long Duration Fund (the “Fund”) seeks return characteristics similar to those of high- quality bonds.

II. Multi-Manager Approach Statement

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -5.82%. The Fund’s primary benchmark, the Bloomberg U.S. Long Government/Credit Index—which measures the performance of medium and larger public issues of U.S. Treasury, agency, investment-grade corporate, and investment-grade international dollar-denominated bonds with maturities longer than 10 years—returned -6.18%.

IV. Fund Attribution

moderated and appear to have been contained to a few idiosyncratic situations. Initially, there were lower expectations for the future path of Fed monetary policy and interest rates as banking sector volatility served to tighten lending standards. However, the central bank implemented two more rate increases at both its March and May meetings, reducing the market’s expectations for rate cuts later in 2023.

The Fund outperformed its primary benchmark, the Bloomberg US Long Government/Credit Index, during the reporting period attributable mainly to an overweight allocation to corporate bonds and an underweight to U.S. Treasurys. Security selection within the corporate sector also had a positive impact on performance. A slight underweight to taxable municipal bonds and both an underweight and selection within non-corporate credit.

Among Fund managers, Legal & General and Income Research outperformed the Fund’s primary benchmark

over the reporting period, while Jennison and MetWest underperformed. Legal & General benefited from security selection within the industrials sector, while relative positioning within the corporate sector, including an overweight to financials, was a detractor. Income Research outperformed due to security selection in the corporate sector and an underweight to U.S. Treasurys. Jennison benefitted from security selection in the corporate sector, while an overweight to Treasurys had a negative impact on Fund performance. MetWest’s long-duration position and underweight to non-corporate credits detracted from Fund performance, while security selection in the sector was a positive contributor.

The Fund used derivatives on a limited basis during the reporting period. The Fund employed Treasury futures to help manage the risk associated with interest-rate and yield-curve positioning. These had no material impact on performance over the period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN^1,2
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Long Duration Fund, Class A	-5.82%	-7.27%	1.21%	2.94%	4.34%
Bloomberg Long U.S. Government/Credit Index	-6.18%	-8.36%	0.38%	2.31%	4.82%
70/30 Blended Benchmark of Bloomberg Long U.S. Credit Index & Bloomberg Long U.S. Government Index	-5.60%	-7.61%	0.56%	2.42%	6.09%

Comparison of Change in the Value of a $100,000 Investment in the Long Duration Fund, Class A, versus the Bloomberg Long U.S. Government/Credit Index, the 70/30 Blended Benchmark of the Bloomberg Long U.S. Credit & Bloomberg Long U.S. Government Index

For the year ended May 31, 2023. Past performance is no indication of future performance. Class A shares were offered beginning 4/21/04. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund Shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

This table compares the Fund’s average annual total returns to those of a broad-based index and the Fund’s 70/30 Blended Benchmark, which consists of the Bloomberg U.S. Long Credit Index and the Bloomberg U.S. Long Government Index. The Fund’s Blended Benchmark is designed to provide a useful comparison to the Fund’s overall performance and more accurately reflects the Fund’s investment strategy than the broad-based index.

I. Objective

The Long Duration Credit Fund (the “Fund”) seeks return characteristics similar to those of high-quality bonds.

II. Multi-Manager Approach Statement

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: Income Research & Management (Income Research), Jennison Associates LLC (Jennison), Legal & General Investment Management America, Inc. (Legal & General), MetLife Investment Management, LLC (MetLife), and Metropolitan West Asset Management, LLC (MetWest). There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -5.33%. The Fund’s benchmark, the Bloomberg Long A+ U.S. Credit Index—which measures the performance of long-term corporate bonds with a credit rating of A or better—returned -5.18%.

IV. Fund Attribution

and interest rates as banking sector volatility served to tighten lending standards. However, the central bank implemented two more rate increases at both its March and May meetings, reducing the market’s expectations for rate cuts later in 2023.

The Fund modestly underperformed its benchmark, the Bloomberg Long A+ U.S. Credit Index, during the reporting period. An allocation to U.S. Treasuries detracted from performance as corporate bonds outperformed. An allocation to BBB rated issues enhanced Fund performance, with higher-quality bonds underperforming lower-quality credits. Security selection within the banking sector had a positive impact on performance as the Fund’s managers preferred large money center banks. Security selection within the industrials sector also bolstered performance. The Fund’s performance within the corporate sector was hampered by an overweight allocation to financials and an underweight to industrials.

Among Fund managers, MetWest, Income Research, MetLife outperformed the Fund’s benchmark over the reporting period, while Jennison and Legal & General underperformed. MetWest was the top-performing manager and benefited from security selection within the banking sector, as well as an allocation to BBB rated securities. An overweight to financials detracted from Fund performance. Income Research also outperformed, benefiting from security selection within both the financials and industrials sectors, while an allocation to U.S. Treasurys weighed on performance. MetLife benefited from credit selection and an allocation to BBB rated issues; however, an overweight to financials weighed on Fund performance. Jennison’s allocation to U.S. Treasurys and an underweight to taxable muni bonds detracted from Fund performance. Security selection within the Banking sector contributed positively to performance. Legal & General’s underweight and security selection within taxable muni bonds had a negative impact on Fund performance.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Long Duration Credit Fund, Class A	-5.33%	-6.73%	1.03%	2.96%	3.05%
Bloomberg Long A+ U.S. Credit Index	-5.18%	-6.94%	0.55%	2.58%	2.52%

I. Objective

The Ultra Short Duration Bond Fund (the “Fund”) seeks to provide higher current income than that typically offered by a money market fund while maintaining a high degree of liquidity and a correspondingly higher risk of principal volatility.

II. Investment Approach

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 2.56%. The Fund’s primary benchmark, the Bloomberg Short U.S. Treasury 9-12 Month Index—which tracks the performance of U.S. Treasury securities that have a remaining maturity between 9 and 12 months—returned 1.69%.

IV. Fund Attribution

expectations for the future path of Fed monetary policy and interest rates as banking sector volatility served to tighten lending standards. However, the central bank implemented two more rate increases at both its March and May meetings, reducing the market’s expectations for rate cuts later in 2023.

The Fund outperformed its benchmark, the Bloomberg Short U.S. Treasury 9-12 Month Index, over the reporting period due to allocations to spread sectors such as corporate credit and ABS. Floating-rate structures such as AAA rated collateralized loan obligations (CLOs) contributed positively to Fund performance during the period as interest rates continued to rise. An allocation to agency MBS detracted from performance as the sector generally underperformed given the challenging technical environment. The Fund’s allocation to CMBS also weighed on performance given the challenges surrounding the office and retail sectors.

Both sub-advisors contributed to the Fund’s relative outperformance for the reporting period. MetLife benefitted from allocations to corporate bonds and prime auto loan and credit-card ABS. Wellington outperformed as well, benefiting from allocations to AAA rated CLOs and corporate bonds.

The Fund used U.S. Treasury futures to manage duration, yield-curve and market exposures. None of these had a meaningful impact on the Fund’s performance for the reporting period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Ultra Short Duration Bond Fund, Class A	2.56%	0.92%	1.66%	1.46%	1.46%
Bloomberg Short U.S. Treasury 9-12 Month Index	1.69%	0.44%	1.40%	0.96%	0.84%

I. Objective

The Emerging Markets Debt Fund (the “Fund”) seeks to maximize total return.

II. Multi-Manager Approach Statement

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 1.22%, while the J.P. Morgan EMBI Global Diversified Index (the “Index”)—which tracks the performance of external debt instruments (including U.S.-dollar-denominated and other external-currency-denominated Brady bonds, loans, Eurobonds and local market instruments) in the emerging markets—returned -1.48%.

IV. Fund Attribution

Hard-currency sovereign markets lost ground during the 12-month period ending May 31, 2023, while local-currency markets finished in positive territory. Several defaults in the hard-currency sovereign universe had a negative impact on both the high-yield hard currency market and investment-grade bonds. The spread on the J.P. Morgan EMBI Global Diversified Index ended the reporting period 29 basis points (0.29%) wider, with underperformance from lower-quality issues. The emerging-market (EM) local rates environment shifted from tightening EM central bank monetary policy to lower rates, supporting the returns for local rates, where the Fund added duration over the reporting period.

The Fund outperformed its benchmark, the J.P. Morgan EMBI Global Diversified Index, during the reporting period. The top contributors to Fund performance included legacy exposure to local Russian government bonds, which the managers continue to sell as exit opportunities occur, Columbian local exposure, and El Salvador hard-currency exposure. Ukraine was a notable detractor from performance as the Fund had an overweight allocation to hard-currency securities

going into Russia’s invasion of the country. Ghana and Korea also weighed modestly on Fund performance over the period. The duration exposure in South Africa and hard-currency Ecuador exposure were the most notable detractors from performance for the period.

Among Fund managers, Stone Harbor, Marathon and Neuberger underperformed the benchmark over the reporting period. The performance of hard-currency specialist Stone Harbor lagged as high-yield spreads continued to widen. Positive country selection, with overweights in El Salvador, Tunisia and Angola, offset the underperformance from the high-yield beta overweight. Neuberger also carried high- yield hard currency exposure through several African bonds, which saw weak performance over the period. The positive contributions of Neuberger’s overweights in legacy Russian government bond holdings, Columbian local exposure, and Brazilian local exposure were insufficient to offset the negative impact of the beta tilt. The performance of Marathon, which tilts its idea-generation into investment-grade debt, benefited from an underweight allocation to Egypt, and an overweight to Ghana. Colchester outperformed the benchmark for the reporting period, bolstered by the exposure to Latin America and select Eastern Europe markets. The manager’s performance also benefited from the exposure to legacy Russian holdings, as well as overweights to Hungary and Mexico. Ninety One enhanced Fund performance due to currency exposure in Russia, Hungary and Columbia. The manager’s overweight allocation to South Africa was a notable detractor from performance for the period.

Currency forwards and interest-rate swaps were the primary derivatives that the Fund used over the reporting period in an effort to efficiently optimize active-currency and duration exposures. Currency forwards had a material impact on the Fund during the period, as 50% of the blended benchmark is directly affected by foreign currencies. Positive and negative impacts differed on a country-to-country basis, depending on whether the currency forward increased or decreased currency exposure and whether the currency strengthened or weakened relative to the U.S. dollar.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN^1,2
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Emerging Markets Debt Fund, Class A	1.22%	-1.47%	-0.51%	0.25%	4.16%
50/50 Hybrid J.P. Morgan EMBI Global Diversified Index/J.P. Morgan GBI-EM Global Diversified Index	0.80%	-2.48%	-0.48%	0.44%	4.17%
J.P. Morgan EMBI Global Diversified Index	-1.48%	-2.70%	-0.13%	2.08%	4.83%

Comparison of Change in the Value of a $100,000 Investment in the Emerging Market Debt Fund, Class A, versus a 50/50 Hybrid of the Following Indexes: the J.P. Morgan EMBI Global Diversified Index, and the J.P. Morgan GBI-EM Global Diversified Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 12/5/05. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Real Return Fund (the “Fund”) seeks a total return exceeding the rate of inflation.

II. Multi-Manager Approach Statement

The Fund is directly managed by SEI Investments Management Corporation (SIMC). There were no sub-advisor changes made during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -2.09%. The Fund’s benchmark, the Bloomberg 1-5 Year U.S. TIPS Index—which measures the performance of inflation-protected public obligations of the U.S. Treasury that have a remaining maturity of one to five years—returned -2.05%.

IV. Fund Attribution

The Fund performed in line with its benchmark for the reporting period, as the Fund manager seeks to replicate the performance of the Bloomberg 1-5 Year U.S. TIPS Index. The U.S. Federal Reserve (Fed) increased the target range for the Fed funds rate in an unprecedented fashion, including four consecutive 75-basis point (0.75%) hikes, during the period to combat persistent inflation. Inflationary pressures moderated throughout the reporting period as the lagged effects of the Fed’s monetary policy took effect; however, the annual inflation rate remained above the Fed’s long-term target of 2%. On a relative basis, U.S. Treasury Inflation-Protected Securities (TIPS) underperformed nominal Treasurys for the period as spreads on 1-5 year breakevens tightened and investors expected the central bank’s tightening monetary policy to work and for inflation to return back to the Fed’s target rate over a longer time horizon.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Real Return Fund, Class A	-2.09%	2.32%	2.65%	1.53%	2.69%
Bloomberg 1-5 Year U.S. TIPS Index	-2.05%	2.41%	2.72%	1.59%	2.65%

Comparison of Change in the Value of a $100,000 Investment in the Real Return Fund, Class A, versus the Bloomberg 1-5 Year U.S. TIPS Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 12/14/06. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Limited Duration Bond Fund (the “Fund”) seeks preservation of capital and current income.

II. Investment Approach

The Fund uses a multi-manager approach, relying on a number of sub-advisers with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: MetLife Investment Management, LLC (MetLife), and Metropolitan West Asset Management, LLC (MetWest). There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned 0.84%. The Fund’s primary benchmark, the ICE BofA 1-3 year U.S. Treasury Index—an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years—returned 0.03%.

IV. Fund Attribution

tighten lending standards. However, the central bank implemented two more rate increases at both its March and May meetings, reducing the market’s expectations for rate cuts later in 2023.

The Fund outperformed its benchmark, the ICE BofA 1-3 year US Treasury Index, for the reporting period, benefiting from allocations to spread sectors such as corporate credit and ABS. Floating-rate structures such as AAA rated collateralized loan obligations (CLOs) enhanced performance during the period as interest rates continued to rise. An allocation to agency MBS detracted from Fund performance as the sector underperformed versus comparable-duration Treasuries given the challenging technical environment. An allocation to CMBS also weighed on performance given the challenges surrounding office and retail space.

Both of the Fund’s sub-advisors outperformed the benchmark during the reporting period. MetWest benefited from positions in corporate bonds and AAA

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
Limited Duration Bond Fund, Class A	0.84%	-0.05%	1.50%	1.33%
ICE BofA 1-3 Year U.S. Treasury Index	0.03%	-0.88%	1.05%	0.84%

Comparison of Change in the Value of a $100,000 Investment in the Limited Duration Bond Fund, Class A, versus the ICE BofA 1-3 Year U.S. Treasury Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 7/31/14. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Intermediate Duration Credit Fund (the "Fund") seeks current income consistent with the preservation of capital.

II. Multi-Manager Approach Statement

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -1.72%. The Fund’s primary benchmark, the Bloomberg A+ U.S. Credit Index—which measures the performance of corporate bonds with a credit rating of A or better—returned -1.82%.

IV. Fund Attribution

During the first half of the 12-month reporting period, risk assets generally sold off as the U.S. Federal Reserve (Fed) tightened monetary policy in an unprecedented fashion in an effort to combat persistent inflation. At the beginning of the 2023 calendar year, inflation, while still elevated, began to moderate and optimism grew that the Fed would be closer to the end of its interest rate-hiking cycle. The Fed did reduce the magnitude of its federal-funds rate hikes moving to increments of 25 basis points (0.25%) in February, March, and May 2023, following an increase of 50 basis points and four consecutive 75-basis point rate hikes prior to that. While economic growth slowed as monetary policy tightening and rising input costs challenged corporate profit margins, unemployment remained historically tight, and reached a record low of 3.4% in April 2023, cooling expectations of an impending recession. Recessionary fears reached their peak in March 2023, on developing concerns of the banking sector emanating from the collapse of Silicon Valley Bank and UBS’s government-induced acquisition of Credit Suisse. At the end of the reporting period, risks of broader systemic failures in the banking sector moderated and appear to have been contained to a few idiosyncratic situations. Initially, there were lower expectations for the future path of Fed monetary policy

Yields increased substantially across the U.S. Treasury curve during the reporting period as inflation remained persistent and the Fed continued to tighten monetary policy aggressively. The yield curve inverted during the period as investors priced in slowing longer-term growth and the belief that the Fed will ultimately bring inflation back to its target of 2%. Five-year Treasury note yields rose by 93 basis points over the 12-month period, while the 10- and 30-year yields increased by 79 and 78 basis points, respectively. The rise in yields led to negative absolute returns for U.S. Treasuries over the period. The performance of spread sectors was generally positive for the period. Corporates generated positive excess returns versus comparable-duration Treasurys during the period as corporate earnings generally exceeded investors’ expectations, the economy remained resilient, and credit spreads remained range-bound. From a credit-quality perspective, BBB rated issues outperformed higher-quality bonds. Agency mortgage-backed securities (MBS) underperformed comparable-duration Treasurys on technical headwinds, with the Fed ending its MBS purchases and beginning its balance-sheet reduction. Asset-backed securities (ABS) outperformed during the reporting period as consumer spending remained resilient amid record employment levels. However, cracks did begin to emerge in fundamentals as debt levels rose given rising auto costs and increased credit-card balances. Commercial mortgage-backed securities (CMBS) underperformed, particularly within the office sector, as remote work remains prevalent and occupancy levels are challenged.

The Fund slightly outperformed its benchmark, the Bloomberg A+ U.S. Credit Index, for the reporting period, benefiting from both an overweight position and security selection within the industrials sector. An allocation to BBB rated bonds, which are not represented in the benchmark index, also had a positive impact on Fund performance as lower-quality issues outperformed during the period. Conversely, security selection within the financials sector weighed on Fund performance for the period. An overweight to allocation to U.S. Treasurys also detracted from performance as the credit sector outperformed during the period.

All three Fund managers outperformed the benchmark Bloomberg A+ U.S. Credit Index for the period. Income Research benefited from security selection

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized Inception to Date
Intermediate Duration Credit Fund, Class A	-1.72%	-3.12%	1.55%	1.70%
Bloomberg A+ U.S. Credit Index	-1.82%	-3.53%	1.20%	1.38%

Comparison of Change in the Value of a $100,000 Investment in the Intermediate Duration Credit Fund, Class A, versus the Bloomberg A+ U.S. Credit Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 3/31/15. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Dynamic Asset Allocation Fund (the "Fund") seeks long-term total return.

II. Investment Approach

The Fund is managed by a sub-advisor under the general supervision of SEI Investments Management Corporation (SIMC). Assets of the Fund not allocated to the sub-advisor are managed directly by SIMC. The Fund utilized the following sub-advisor as of May 31, 2023: SSGA Funds Management, Inc. There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -0.22%. The Fund’s primary benchmark, the S&P 500 Index —a capitalization-weighted index consisting of roughly 500 large U.S. companies that are considered representative of the broad U.S. stock market—returned 2.92%.

IV. Fund Attribution

A majority of the Fund’s volatility is typically driven by strategic exposure to the S&P 500 Index, which typically serves as the most significant driver of the Fund. The mixed performance of the S&P 500 Index for the reporting period was driven primarily by strong performance in the information technology sector. Weakness in the real estate, energy, materials and utilities sectors offset much of the positive performance in information technology.

The largest detractor from Fund performance was a long commodities position. This exposure was hampered by concerns over lower demand as investors anticipated slower growth as a result of central bank tightening globally. Additionally, China’s economic reopening after a longer period of strict COVID 19-induced policies failed to live up to expectations in the first quarter of 2023. A position in a National Financial Conditions Index total return swap detracted from Fund performance over the reporting period as financial conditions strengthened in the U.S. despite the Federal Reserve’s aggressive monetary tightening program. The National Financial Conditions Index monitors U.S. financial conditions in money markets, debt and equity markets, and the banking system. A position in 10-year Consumer Price Index (CPI) swaps weighed on Fund performance as market expectations for inflation were subdued over the period. The Fund’s short position in S&P 500 Index futures detracted from performance as the U.S. equity

market proved resilient in the first five months of 2023, despite concerns over a potential looming recession.

Toward the end of the reporting period, the Fund manager added several active positions, including put options on the Japanese yen versus the U.S. dollar, Japanese short term interest rates and a position in gold which detracted modestly from Fund performance.

The Fund employs derivatives to obtain tactical exposures. Over the reporting period, these derivatives included futures, options, interest-rate swaps, and total-return swaps. The use of derivatives had a material impact on performance since all active trades are implemented through their use.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Dynamic Asset Allocation Fund, Class A	-0.22%	14.28%	10.96%	12.08%	12.62%
S&P 500 Index	2.92%	12.92%	11.01%	11.99%	13.15%

Comparison of Change in the Value of a $100,000 Investment in the Dynamic Asset Allocation Fund, Class A, versus the S&P 500 Index

For the year ended May 31, 2023. Past performance is not an indication of future performance. Class A shares were offered beginning 7/30/10. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The returns for certain periods reflect fee waivers and/or reimbursements in effect for that year; absent fee waivers and reimbursements, performance would have been lower.

I. Objective

The Multi-Asset Real Return Fund (the “Fund”) seeks a total return exceeding the rate of inflation.

II. Multi-Manager Approach Statement

The Fund uses a multi-manager approach, relying on a number of sub-advisors with differing investment approaches to manage portions of the Fund’s portfolio, under the general supervision of SEI Investments Management Corporation (SIMC). The Fund utilized the following sub-advisors as of May 31, 2023: AllianceBernstein L.P. (AllianceBernstein), Columbia Management Investment Advisers, LLC (Columbia), Credit Suisse Asset Management, LLC (Credit Suisse), and Franklin Advisers, Inc. (Franklin). Columbia manages a wholly owned subsidiary of the Fund and has delegated certain of its duties to Threadneedle International Ltd. as a sub-advisor. Credit Suisse manages a wholly-owned subsidiary of the Fund. There were no sub-advisor changes during the fiscal period.

III. Return vs. Benchmark

For the one year ending May 31, 2023, the Fund’s Class A shares returned -6.04%. The Fund’s primary benchmark, the Bloomberg 1-5 Year U.S. TIPS Index—which measures the performance of inflation-protected public obligations of the U.S. Treasury that have a remaining maturity of one to five years—returned -2.05%.

IV. Fund Attribution

Inflation-sensitive assets, such as commodities and U.S. Treasury inflation-protected securities (TIPS), lost ground during the reporting period. U.S. Treasury Inflation-Protected Securities (TIPS) returned -2.05% (as measured by the Bloomberg 1-5 Year US TIPS Index), while commodities returned -22.48% (as measured by the Bloomberg Commodity Index).

The majority of the Fund’s underperformance relative to the benchmark Bloomberg 1-5 Year U.S. TIPS Index for the reporting period was attributable to the exposure to commodities. The Fund’s commodities portfolio managers, Columbia and Credit Suisse, outperformed their mandate’s commodities benchmark, but each lagged the Fund’s benchmark index as slowing economic activity, favorable winter weather, and a global reallocation of commodity trade flows drove a broad-based decline in commodity prices during the reporting period. Franklin’s equity long/short strategy also weighed on Fund performance. At the sector level, the long exposure to energy and real estate hampered

performance, while the short exposure to materials was a contributor.

AllianceBernstein, manager of the Fund’s TIPS allocation, contributed positively on both an absolute and a relative basis versus the Fund’s benchmark. The manager’s allocations to credit (primarily within the investment-grade and high-yield sectors) bolstered Fund performance over the reporting period, while the exposure to TIPS had a negative impact. Amid improving risk sentiment, credit sectors outperformed government bonds during the period as signs of moderating inflation and better-than-expected economic growth led investors to discount their recessionary fears.

During the reporting period, the Fund used equity-index futures to hedge broad equity-market exposure, bond futures and interest-rate swaps to hedge duration, credit default swaps (CDS) to hedge credit risk, and commodity futures to obtain diversified strategic exposure to commodities. The Fund’s allocation to commodity futures detracted from performance, as did the exposure obtained through equity-index futures, although it provided the intended hedging; bond futures, interest-rate swaps, and CDS contributed to Fund performance for the period.

Investing is subject to risk, including the possible loss of principal. Past performance is no indication of future results.

AVERAGE ANNUAL TOTAL RETURN¹
	One Year Return	Annualized 3 Year Return	Annualized 5 Year Return	Annualized 10 Year Return	Annualized Inception to Date
Multi-Asset Real Return Fund, Class A	-6.04%	7.50%	3.72%	1.16%	0.33%
Bloomberg 1-5 Year U.S. TIPS Index	-2.05%	2.41%	2.72%	1.59%	1.41%
Blended 70% Bloomberg 1-5 Year U.S. TIPS Total Return Index / 20% Bloomberg Commodity Index Total Return Index / 10% S&P 500 Index	-5.83%	6.53%	3.91%	2.13%	1.44%

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 97.7%

Communication Services — 6.9%
Alphabet Inc, Cl A *		31,186	$	3,832
Alphabet Inc, Cl C *		78,487		9,683
AT&T Inc		279,245		4,393
BCE Inc		65,612		2,959
Comcast Corp, Cl A		143,341		5,640
Electronic Arts Inc		1,733		222
Fox Corp		44,900		1,401
IAC Inc *		5,290		295
Integral Ad Science Holding Corp *		17,413		329
Liberty Global PLC, Cl A *		2,446		40
Liberty Media Corp-Liberty Formula One, Cl C *		20,038		1,411
Match Group Inc *		12,565		433
Meta Platforms Inc, Cl A *		28,587		7,568
Netflix Inc *		5,704		2,254
Nexstar Media Group Inc, Cl A		9,845		1,486
Omnicom Group Inc		1,175		104
Pinterest Inc, Cl A *		2,622		63
Roku Inc, Cl A *		556		32
Spotify Technology SA *		1,639		244
Trade Desk Inc/The, Cl A *		18,376		1,288
Verizon Communications Inc		64,000		2,280
Walt Disney Co/The *		28,553		2,512
Warner Bros Discovery Inc *		17,400		196

				48,665
Consumer Discretionary — 8.7%
Advance Auto Parts Inc		4,020		293
Amazon.com Inc *		118,853		14,331
AutoNation Inc *		5,400		707
AutoZone Inc *		248		592
Best Buy Co Inc		11,600		843
Booking Holdings Inc *		466		1,169
Capri Holdings Ltd *		12,200		428


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Chipotle Mexican Grill Inc, Cl A *		50	$	104
DraftKings Inc, Cl A *		32,564		760
Duolingo Inc, Cl A *		1,359		203
eBay Inc		30,808		1,311
Foot Locker Inc		24,800		628
Ford Motor Co		215,902		2,591
General Motors Co		69,559		2,254
Genuine Parts Co		22,358		3,330
Goodyear Tire & Rubber Co/The *		58,400		802
Graham Holdings Co, Cl B		223		126
Green Brick Partners Inc *		5,226		250
Harley-Davidson Inc		25,500		793
Hilton Worldwide Holdings Inc		1,376		187
Home Depot Inc/The		6,843		1,940
KB Home		19,900		862
Kohl's Corp		13,100		240
Las Vegas Sands Corp *		6,751		372
Lowe's Cos Inc		17,325		3,485
Macy's Inc		36,200		492
McDonald's Corp		6,527		1,861
MercadoLibre Inc *		1,682		2,084
Meritage Homes Corp		1,632		188
MGM Resorts International		14,288		561
Mobileye Global, Cl A *(A)		5,055		225
NIKE Inc, Cl B		35,024		3,687
NVR Inc *		10		56
O'Reilly Automotive Inc *		547		494
Pool Corp		5,917		1,871
PulteGroup Inc		31,867		2,106
Starbucks Corp		28,619		2,794
Taylor Morrison Home Corp, Cl A *		24,917		1,057
Tesla Inc *		8,982		1,832
Toll Brothers Inc		15,044		1,019
Tri Pointe Homes Inc *		12,776		373
Trip.com Group Ltd ADR *		15,257		482
Urban Outfitters Inc *		3,343		103
Valvoline Inc		9,914		382
VF Corp		2,442		42
Whirlpool Corp		9,600		1,241

				61,551
Consumer Staples — 6.1%
Altria Group Inc		75,458		3,352
Archer-Daniels-Midland Co		11,600		820
Coca-Cola Co/The		20,579		1,228
Coca-Cola Consolidated Inc		377		249
Conagra Brands Inc		25,800		900
Constellation Brands Inc, Cl A		9,713		2,360
Costco Wholesale Corp		4,661		2,384
Diageo PLC ADR		12,305		2,067
Dollar General Corp		8,841		1,778
Estee Lauder Cos Inc/The, Cl A		4,091		753
Herbalife Ltd *		15,000		178


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hershey Co/The		3,151	$	818
Kimberly-Clark Corp		21,795		2,927
Kraft Heinz Co/The		28,800		1,101
Kroger Co/The		37,700		1,709
Molson Coors Beverage Co, Cl B		24,900		1,540
Mondelez International Inc, Cl A		2,432		178
PepsiCo Inc		23,552		4,295
Philip Morris International Inc		36,998		3,330
Procter & Gamble Co/The		17,628		2,512
Spectrum Brands Holdings Inc		4,683		338
Target Corp		16,775		2,196
Tyson Foods Inc, Cl A		19,800		1,003
Unilever PLC ADR		52,470		2,620
US Foods Holding Corp *		919		37
Walgreens Boots Alliance Inc		41,400		1,257
Walmart Inc		8,746		1,284

				43,214
Energy — 4.4%
APA Corp		14,000		445
Baker Hughes Co, Cl A		8,610		235
Chesapeake Energy Corp		7,100		534
Chevron Corp		35,565		5,357
ConocoPhillips		34,343		3,410
Devon Energy Corp		23,300		1,074
Diamondback Energy Inc		9,700		1,233
EOG Resources Inc		15,275		1,639
Exxon Mobil Corp		84,252		8,609
HF Sinclair Corp		23,000		953
Marathon Petroleum Corp		15,357		1,611
Phillips 66		11,200		1,026
Pioneer Natural Resources Co		13,201		2,633
Schlumberger		18,591		796
Scorpio Tankers Inc		6,903		316
Valero Energy Corp		7,778		833
Weatherford International PLC *		4,181		236

				30,940
Financials — 15.2%
Aflac Inc		21,300		1,368
Ally Financial Inc		37,400		997
American International Group Inc		14,001		740
Ameriprise Financial Inc		12,583		3,756
Annaly Capital Management Inc ^‡		19,900		376
Aon PLC, Cl A		4,717		1,454
Arch Capital Group Ltd *		1,594		111
Bank of America Corp		157,983		4,390
BankUnited Inc		13,300		252
Berkshire Hathaway Inc, Cl B *		16,008		5,140
BlackRock Inc, Cl A		3,205		2,107
Capital One Financial Corp		7,700		802
Chubb Ltd		20,512		3,811
Citigroup Inc		107,118		4,748


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Citizens Financial Group Inc		29,200	$	753
CME Group Inc, Cl A		8,637		1,544
CNA Financial Corp		13,500		498
Customers Bancorp Inc *		10,400		239
Discover Financial Services		30,651		3,149
Everest Re Group Ltd		5,144		1,749
FactSet Research Systems Inc		5,207		2,004
Federated Hermes Inc, Cl B		2,307		79
Fidelity National Information Services Inc		14,231		777
Fifth Third Bancorp		37,700		915
First American Financial Corp		14,800		813
Genworth Financial Inc, Cl A *		37,349		200
Goldman Sachs Group Inc/The		5,700		1,846
Hartford Financial Services Group Inc/The		23,000		1,576
Intercontinental Exchange Inc		1,720		182
JPMorgan Chase & Co		41,816		5,675
KeyCorp		64,900		606
Lincoln National Corp		12,100		253
Markel Group Inc *		3,564		4,686
Marsh & McLennan Cos Inc		6,947		1,203
Mastercard Inc, Cl A		6,079		2,219
MetLife Inc		26,800		1,328
MGIC Investment Corp		88,026		1,331
Moody's Corp		15,432		4,890
Morgan Stanley		78,370		6,408
MSCI Inc, Cl A		5,353		2,519
Navient Corp		52,300		792
PayPal Holdings Inc *		18,487		1,146
PNC Financial Services Group Inc/The		1,274		148
Progressive Corp/The		1,878		240
Radian Group Inc		42,900		1,096
Regions Financial Corp		84,900		1,466
Reinsurance Group of America Inc, Cl A		1,802		252
S&P Global Inc		3,876		1,424
State Street Corp		19,400		1,320
Tradeweb Markets Inc, Cl A		10,957		734
Travelers Cos Inc/The		15,850		2,682
Truist Financial Corp		80,535		2,454
Unum Group *		23,000		999
US Bancorp		26,546		794
Valley National Bancorp		35,800		264
Veritex Holdings Inc		18,300		316
Visa Inc, Cl A		45,314		10,016
Wells Fargo & Co		55,751		2,219
Western Union Co/The		72,525		826
Wintrust Financial Corp		6,800		432

				107,114
Health Care — 13.5%
Abbott Laboratories		246		25
AbbVie Inc		18,523		2,555
Acadia Healthcare Co Inc *		10,687		755
Amgen		13,454		2,969


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
AstraZeneca PLC ADR		19,085	$	1,395
Baxter International Inc		4,177		170
Becton Dickinson		404		98
Biogen Inc *		4,182		1,240
Bio-Rad Laboratories Inc, Cl A *		1,083		404
Boston Scientific Corp *		20,266		1,043
Bristol-Myers Squibb Co		58,419		3,764
Bruker Corp		2,292		158
Cardinal Health Inc		23,400		1,926
Centene Corp *		11,000		686
Chemed Corp		4,483		2,393
Cigna Group		4,300		1,064
CVS Health Corp		27,000		1,837
Danaher Corp		11,608		2,665
Dexcom Inc *		1,184		139
Elevance Health Inc		1,272		570
Eli Lilly & Co		7,025		3,017
Exelixis Inc *		8,798		170
Gilead Sciences Inc		29,076		2,237
HCA Healthcare Inc		10,733		2,836
Humana Inc		2,006		1,007
Inspire Medical Systems Inc *		193		56
Intuitive Surgical Inc *		1,226		377
Jazz Pharmaceuticals PLC *		6,880		882
Johnson & Johnson		61,341		9,511
McKesson Corp		6,724		2,628
Medtronic PLC		42,225		3,495
Merck & Co Inc		71,253		7,867
Mettler-Toledo International Inc *		2,772		3,664
Natera Inc *		30,570		1,440
Novartis AG ADR		37,238		3,584
Organon & Co		9,134		177
Pfizer Inc		159,885		6,079
Regeneron Pharmaceuticals Inc *		134		99
Revvity Inc		1,795		207
Royalty Pharma PLC, Cl A		8,505		278
STERIS PLC		12,026		2,405
Stryker Corp		2,881		794
Tenet Healthcare Corp *		10,210		727
TransMedics Group Inc *		21,391		1,554
UnitedHealth Group Inc		15,368		7,488
Universal Health Services Inc, Cl B		11,243		1,486
Vaxcyte Inc *		20,109		996
Vertex Pharmaceuticals Inc *		1,904		616
Viatris Inc		46,500		425
West Pharmaceutical Services Inc		1,009		338
Zimmer Biomet Holdings Inc		4,081		520
Zoetis Inc, Cl A		12,569		2,049

				94,865
Industrials — 10.7%
3M Co		1,581		148
AAON Inc		684		59


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Acuity Brands Inc		3,400	$	512
AGCO Corp		12,100		1,334
Allison Transmission Holdings Inc		29,100		1,376
Automatic Data Processing Inc		13,896		2,904
Axon Enterprise Inc *		701		135
Builders FirstSource Inc *		4,078		473
Caterpillar Inc		4,924		1,013
Cintas Corp		2,893		1,366
Copart Inc *		5,514		483
Cummins Inc		6,800		1,390
Deere & Co		366		127
Delta Air Lines Inc *		17,900		650
Donaldson Co Inc		3,027		177
Eaton Corp PLC		3,178		559
Emerson Electric Co		5,476		425
Encore Wire Corp		5,300		867
FedEx Corp		8,392		1,829
Ferguson PLC		3,653		529
Fortive Corp		38,251		2,491
General Dynamics Corp		14,740		3,010
GFL Environmental Inc		43,099		1,558
GXO Logistics Inc *		83,896		4,691
Hillenbrand Inc		15,200		729
Honeywell International Inc		23,568		4,516
Huntington Ingalls Industries Inc		3,900		785
Ingersoll Rand Inc		21,665		1,228
Jacobs Solutions Inc		382		42
Johnson Controls International plc		59,928		3,578
Kirby Corp *		9,534		682
Legalzoom.com Inc *		3,494		39
Lockheed Martin Corp		3,017		1,340
ManpowerGroup Inc		11,900		835
nVent Electric PLC		13,787		598
Old Dominion Freight Line Inc		116		36
Otis Worldwide Corp		29,371		2,335
Owens Corning		11,000		1,170
PACCAR Inc		16,709		1,149
Parker-Hannifin Corp		289		93
Paychex Inc		4,880		512
Raytheon Technologies Corp		38,295		3,529
Rollins Inc		17,630		693
Siemens AG ADR		44,975		3,692
Snap-on Inc		5,400		1,344
SPX Technologies Inc *		2,694		206
Textron Inc		12,100		749
TransDigm Group Inc		10,294		7,964
Union Pacific Corp		13,184		2,538
United Airlines Holdings Inc *		14,900		707
United Parcel Service Inc, Cl B		15,507		2,590
Vertiv Holdings Co, Cl A		2,644		51
Waste Connections Inc		22,330		3,051
WESCO International Inc		463		64


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Westinghouse Air Brake Technologies Corp		7,704	$	714

				75,665
Information Technology — 23.0%
Accenture PLC, Cl A		5,493		1,680
Adobe Inc *		14,173		5,921
Advanced Micro Devices Inc *		9,448		1,117
Alteryx Inc, Cl A *		992		39
Amphenol Corp, Cl A		35,323		2,665
ANSYS Inc *		872		282
Apple Inc		145,094		25,718
Applied Materials Inc		18,322		2,442
Arista Networks Inc *		4,409		733
Arrow Electronics Inc *		8,200		1,038
Atlassian Corp Ltd, Cl A *		718		130
Autodesk Inc *		373		74
Braze, Cl A *		2,514		83
Broadcom Inc		13,631		11,013
Cadence Design Systems Inc *		1,843		426
CDW Corp/DE		11,144		1,913
Cisco Systems Inc		138,000		6,854
Datadog Inc, Cl A *		5,586		530
Dell Technologies Inc, Cl C		16,000		717
DXC Technology Co *		24,600		616
Dynatrace Inc *		6,237		318
First Solar Inc *		1,724		350
Fortinet Inc *		8,827		603
Freshworks, Cl A *		1,505		24
Guidewire Software Inc *		6,779		563
HashiCorp Inc, Cl A *		8,144		280
Hewlett Packard Enterprise Co		144,649		2,086
HP Inc		105,765		3,074
HubSpot Inc *		1,443		747
Intel Corp		134,050		4,215
International Business Machines Corp		5,200		669
Intuit Inc		11,428		4,790
KLA Corp		1,355		600
Lam Research Corp		271		167
Marvell Technology Inc		25,099		1,468
Microchip Technology Inc		47,846		3,601
Micron Technology Inc		1,930		132
Microsoft Corp		102,353		33,612
MongoDB Inc, Cl A *		1,487		437
Monolithic Power Systems Inc		2,615		1,281
Motorola Solutions Inc		9,628		2,714
New Relic Inc *		3,507		247
NVIDIA Corp		25,819		9,768
Okta Inc, Cl A *		4,069		370
ON Semiconductor Corp *		5,709		477
Oracle Corp		50,168		5,315
Palo Alto Networks Inc *		3,031		647
QUALCOMM Inc		9,548		1,083
Rapid7 Inc *		543		26


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Roper Technologies Inc		5,247	$	2,383
salesforce.com *		17,476		3,904
SAP SE ADR		23,811		3,106
Seagate Technology Holdings PLC		11,200		673
ServiceNow Inc *		1,830		997
Smartsheet Inc, Cl A *		7,624		378
Splunk Inc *		7,185		713
Sprinklr, Cl A *		13,115		174
Squarespace Inc *		7,863		231
Synopsys Inc *		2,147		977
Taiwan Semiconductor Manufacturing Co Ltd ADR		7,232		713
Teradata Corp *		6,521		306
Twilio Inc, Cl A *		2,736		191
UiPath Inc, Cl A *		16,168		289
Varonis Systems Inc, Cl B *		4,466		117
Vishay Intertechnology Inc		46,100		1,188
VMware Inc, Cl A *		3,900		532
Wix.com Ltd *		614		47
Workday Inc, Cl A *		2,663		565
Xerox Holdings Corp		46,300		651

				161,790
Materials — 4.8%
Air Products and Chemicals Inc		21,853		5,882
Ball Corp		9,481		485
Berry Global Group Inc		16,000		915
Chemours Co/The		23,500		623
Commercial Metals Co		1,630		70
Dow Inc		58,865		2,871
Ecolab Inc		2,704		446
Huntsman Corp		37,400		888
Ingevity Corp *		10,801		510
International Paper Co		17,600		518
Linde		12,613		4,461
LyondellBasell Industries NV, Cl A		11,500		984
Martin Marietta Materials Inc		6,154		2,450
Nucor Corp		833		110
O-I Glass Inc *		39,200		812
PPG Industries Inc		8,228		1,080
Reliance Steel & Aluminum Co		18,959		4,449
Sherwin-Williams Co/The		12,600		2,870
Steel Dynamics Inc		10,300		947
Summit Materials Inc, Cl A *		6,052		191
Sylvamo Corp		11,800		465
Vulcan Materials Co		2,302		450
Westrock Co		37,200		1,042

				33,519
Real Estate — 2.7%
American Tower Corp, Cl A ^‡		24,909		4,594
Boston Properties Inc ^‡		19,215		935
Brixmor Property Group Inc ^‡		47,400		949


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Equinix Inc ^‡		4,926	$	3,672
Healthpeak Properties Inc ^‡		127,169		2,538
Host Hotels & Resorts Inc ^‡		37,100		616
Iron Mountain Inc ^‡		10,551		564
Prologis ^‡		8,323		1,037
Service Properties Trust ^‡		37,100		305
Simon Property Group Inc ^‡		7,700		810
VICI Properties Inc, Cl A ^‡		99,117		3,066

				19,086
Utilities — 1.7%
Black Hills Corp		5,620		342
Dominion Energy Inc		5,506		277
DTE Energy Co		10,003		1,076
Duke Energy Corp		37,330		3,333
Exelon Corp		9,526		378
National Fuel Gas Co		4,016		204
NextEra Energy Inc		46,415		3,410
NRG Energy Inc		34,300		1,159
PPL Corp		9,469		248
UGI Corp		14,800		414


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Vistra Corp		42,000	$	1,007

				11,848
Total Common Stock
(Cost $523,240) ($ Thousands)				688,257



AFFILIATED PARTNERSHIP — 0.0%
SEI Liquidity Fund, LP
5.010% **^†(B)		284,797		285


Total Affiliated Partnership
(Cost $285) ($ Thousands)				285



CASH EQUIVALENT — 2.5%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		17,569,927		17,570

Total Cash Equivalent
(Cost $17,570) ($ Thousands)				17,570


Total Investments in Securities — 100.2%
(Cost $541,095) ($ Thousands)			$	706,112

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

688,257

–

688,257

Affiliated Partnership

–

285

–

285

Cash Equivalent

17,570

–

17,570

Total Investments in Securities

705,827

285

–

706,112

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

100

–

100

Unrealized Depreciation

)

–

)

Total Other Financial Instruments

–

*	Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 90.2%

Communication Services — 4.9%
Alphabet Inc, Cl A *		90,485	$	11,118
Alphabet Inc, Cl C *		81,167		10,014
AT&T Inc		65,586		1,032
Electronic Arts Inc		7,523		963
Iridium Communications Inc		28,508		1,712
Liberty Global PLC, Cl A *		69,419		1,131
Live Nation Entertainment Inc *		23,560		1,883
Match Group Inc *		20,347		702
Meta Platforms Inc, Cl A *		73,233		19,386
Netflix Inc *		6,295		2,488
Nexstar Media Group Inc, Cl A		13,983		2,110
Omnicom Group Inc		7,876		695
Pinterest Inc, Cl A *		31,983		766
Trade Desk Inc/The, Cl A *		12,579		881
Verizon Communications Inc		128,135		4,565
Walt Disney Co/The *		30,989		2,726

				62,172
Consumer Discretionary — 7.2%
Advance Auto Parts Inc		11,826		862
Amazon.com Inc *		114,257		13,777
AutoZone Inc *		1,520		3,628
Best Buy Co Inc		58,450		4,248
Booking Holdings Inc *		1,551		3,891
BorgWarner Inc		44,139		1,957
Chipotle Mexican Grill Inc, Cl A *		73		152
DR Horton Inc		1,225		131
Duolingo Inc, Cl A *		2,401		359
eBay Inc		22,046		938
Ford Motor Co		310,574		3,727
General Motors Co		86,667		2,809
Genuine Parts Co		6,052		901
H&R Block Inc		69,220		2,066


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hilton Worldwide Holdings Inc		941	$	128
Home Depot Inc/The		25,460		7,217
Lear Corp		1,229		151
Lennar Corp, Cl A		31,526		3,377
Lowe's Cos Inc		24,395		4,907
McDonald's Corp		16,374		4,668
NIKE Inc, Cl B		45,900		4,831
NVR Inc *		317		1,761
O'Reilly Automotive Inc *		922		833
Pool Corp		8,365		2,645
PulteGroup Inc		52,441		3,465
Ross Stores Inc		44,805		4,643
Service Corp International/US		32,439		2,063
Starbucks Corp		20,974		2,048
Tesla Inc *		13,898		2,834
Toll Brothers Inc		52,800		3,574
Valvoline Inc		10,259		395
Wynn Resorts Ltd		25,550		2,522

				91,508
Consumer Staples — 7.3%
Clorox Co/The		1,940		307
Coca-Cola Co/The		131,051		7,819
Coca-Cola Consolidated Inc		1,162		769
Colgate-Palmolive Co		65,196		4,849
Conagra Brands Inc		85,421		2,979
Constellation Brands Inc, Cl A		13,795		3,352
Costco Wholesale Corp		12,071		6,175
Dollar General Corp		32,167		6,468
Estee Lauder Cos Inc/The, Cl A		5,805		1,068
Hershey Co/The		23,250		6,038
J M Smucker Co/The		17,677		2,591
Kimberly-Clark Corp		26,497		3,558
Kraft Heinz Co/The		81,554		3,117
Mondelez International Inc, Cl A		68,801		5,051
PepsiCo Inc		53,525		9,760
Philip Morris International Inc		37,216		3,350
Post Holdings Inc *		23,172		1,969
Procter & Gamble Co/The		95,741		13,643
Sysco Corp		110,919		7,759
US Foods Holding Corp *		4,512		179
Walmart Inc		18,915		2,778

				93,579
Energy — 4.0%
Antero Resources Corp *		68,352		1,395
Baker Hughes Co, Cl A		182,456		4,972
Chesapeake Energy Corp		54,470		4,099
Chevron Corp		61,789		9,307
ConocoPhillips		2,378		236
Diamondback Energy Inc		13,773		1,751
EOG Resources Inc		58,531		6,280
EQT Corp		72,635		2,525


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Exxon Mobil Corp		71,048	$	7,260
Marathon Petroleum Corp		23,349		2,449
Matador Resources Co		53,847		2,368
Phillips 66		4,124		378
Pioneer Natural Resources Co		18,727		3,735
Schlumberger NV		9,185		393
Southwestern Energy Co *		45,269		216
TechnipFMC PLC *		192,701		2,532
Valero Energy Corp		4,705		504

				50,400
Financials — 13.9%
Affiliated Managers Group Inc		5,337		742
Allstate Corp/The		50,833		5,513
American International Group Inc		70,610		3,730
Ameriprise Financial Inc		9,363		2,795
Aon PLC, Cl A		12,642		3,897
Arch Capital Group Ltd *		4,604		321
Bank of America Corp		438,504		12,186
Berkshire Hathaway Inc, Cl B *		12,238		3,929
BlackRock Inc, Cl A		4,557		2,996
Capital One Financial Corp		48,083		5,011
Chubb Ltd		8,188		1,521
Citigroup Inc		147,081		6,519
Citizens Financial Group Inc		63,775		1,644
CME Group Inc, Cl A		34,157		6,106
Comerica Inc		41,305		1,491
Corebridge Financial Inc		71,694		1,192
Discover Financial Services		29,900		3,072
Everest Re Group Ltd		2,274		773
FactSet Research Systems Inc		10,732		4,131
Fidelity National Information Services Inc		38,242		2,087
First Horizon Corp		138,160		1,424
Fiserv Inc *		1,808		203
Global Payments Inc		72,750		7,107
Goldman Sachs Group Inc/The		4,828		1,564
Intercontinental Exchange Inc		29,902		3,168
JPMorgan Chase & Co		102,303		13,884
Marsh & McLennan Cos Inc		47,425		8,213
Mastercard Inc, Cl A		17,532		6,400
Moody's Corp		5,691		1,803
Morgan Stanley		29,463		2,409
MSCI Inc, Cl A		7,803		3,672
OneMain Holdings Inc, Cl A		20,779		787
PayPal Holdings Inc *		32,254		1,999
PNC Financial Services Group Inc/The		45,644		5,287
Progressive Corp/The		42,570		5,445
Raymond James Financial Inc		35,311		3,190
Reinsurance Group of America Inc, Cl A		6,068		849
State Street Corp		146,515		9,966
Synchrony Financial		18,838		583
T Rowe Price Group Inc		17,495		1,875
Tradeweb Markets Inc, Cl A		23,490		1,573


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Travelers Cos Inc/The		17,345	$	2,935
Unum Group		3,132		136
US Bancorp		118,653		3,548
Visa Inc, Cl A		53,942		11,923
Wells Fargo & Co		53,840		2,143
Willis Towers Watson PLC		25,255		5,527

				177,269
Health Care — 12.6%
Abbott Laboratories		450		46
AbbVie Inc		20,001		2,759
Agilent Technologies Inc		2,377		275
AmerisourceBergen Corp, Cl A		32,925		5,602
Amgen Inc		21,256		4,690
Baxter International Inc		44,215		1,800
Becton Dickinson & Co		2,491		602
Biogen Inc *		817		242
Bio-Rad Laboratories Inc, Cl A *		2,003		748
Bristol-Myers Squibb Co		30,473		1,964
Bruker Corp		4,162		288
Cardinal Health Inc		21,850		1,798
Centene Corp *		38,651		2,412
Chemed Corp		6,367		3,399
CVS Health Corp		103,379		7,033
Danaher Corp		33,013		7,580
Dexcom Inc *		3,004		352
Doximity Inc, Cl A *		16,342		501
Elevance Health Inc		3,398		1,522
Eli Lilly & Co		31,429		13,498
Exelixis Inc *		14,468		279
Gilead Sciences Inc		16,498		1,269
HCA Healthcare Inc		12,242		3,234
Humana Inc		4,602		2,310
Intuitive Surgical Inc *		2,666		821
Johnson & Johnson		131,858		20,446
Laboratory Corp of America Holdings		541		115
McKesson Corp		3,452		1,349
Medtronic PLC		54,542		4,514
Merck & Co Inc		14,195		1,567
Mettler-Toledo International Inc *		4,022		5,317
Neurocrine Biosciences Inc *		12,408		1,111
Perrigo Co PLC		66,736		2,133
Pfizer Inc		84,894		3,228
Regeneron Pharmaceuticals Inc *		263		193
Revvity Inc		38,192		4,404
Royalty Pharma PLC, Cl A		5,825		191
Sarepta Therapeutics Inc *		10,414		1,287
STERIS PLC		17,041		3,408
Stryker Corp		12,714		3,504
Teleflex Inc		10,328		2,424
Tenet Healthcare Corp *		25,103		1,787
Thermo Fisher Scientific Inc		6,951		3,534
United Therapeutics Corp *		623		131


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
UnitedHealth Group Inc		48,550	$	23,656
Universal Health Services Inc, Cl B		41,446		5,476
Vertex Pharmaceuticals Inc *		4,169		1,349
West Pharmaceutical Services Inc		1,166		390
Zimmer Biomet Holdings Inc		13,632		1,736
Zoetis Inc, Cl A		17,853		2,910

				161,184
Industrials — 9.5%
3M Co		13,754		1,283
Automatic Data Processing Inc		35,002		7,315
Axon Enterprise Inc *		1,699		328
Boeing Co/The *		19,726		4,058
Builders FirstSource Inc *		7,897		916
Caterpillar Inc		18,533		3,813
Cintas Corp		7,865		3,713
Copart Inc *		11,028		966
CSX Corp		13,633		418
Deere & Co		1,768		612
Donaldson Co Inc		5,961		349
Eaton Corp PLC		696		122
Emerson Electric Co		55,680		4,325
Equifax Inc		1,294		270
FedEx Corp		8,055		1,756
Ferguson PLC		12,612		1,828
Fortive Corp		63,687		4,147
General Electric Co		44,291		4,497
Honeywell International Inc		51,646		9,895
Ingersoll Rand Inc		50,094		2,838
Jacobs Solutions Inc		25,595		2,805
Johnson Controls International plc		15,785		942
Knight-Swift Transportation Holdings Inc, Cl A		113,637		6,249
L3Harris Technologies Inc		24,156		4,250
Lockheed Martin Corp		5,687		2,525
nVent Electric PLC		32,935		1,429
Otis Worldwide Corp		41,698		3,315
Owens Corning		8,608		915
PACCAR Inc		12,691		873
Parker-Hannifin Corp		12,858		4,120
Paychex Inc		5,179		544
Raytheon Technologies Corp		34,619		3,190
Rockwell Automation Inc		11,105		3,094
Rollins Inc		44,147		1,736
Snap-on Inc		1,693		421
Southwest Airlines Co		143,766		4,294
Tetra Tech Inc		13,923		1,914
Union Pacific Corp		22,451		4,322
United Airlines Holdings Inc *		61,061		2,898
United Parcel Service Inc, Cl B		22,591		3,773
United Rentals Inc		7,545		2,519
Verisk Analytics Inc, Cl A		8,995		1,971
Waste Connections Inc		31,711		4,333


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
WW Grainger Inc		9,044	$	5,870

				121,751
Information Technology — 22.0%
Accenture PLC, Cl A		7,803		2,387
Adobe Inc *		8,250		3,447
ANSYS Inc *		3,378		1,093
Apple Inc		401,231		71,118
Applied Materials Inc		43,018		5,734
Arista Networks Inc *		1,109		184
Atlassian Corp Ltd, Cl A *		19,693		3,560
Autodesk Inc *		18,955		3,779
Broadcom Inc		12,120		9,793
Cadence Design Systems Inc *		6,168		1,424
CDW Corp/DE		15,793		2,712
Cirrus Logic Inc *		3,251		253
Cisco Systems Inc		160,876		7,991
Dynatrace Inc *		8,018		409
Fair Isaac Corp *		1,535		1,209
Fortinet Inc *		21,769		1,488
GoDaddy Inc, Cl A *		28,745		2,109
Guidewire Software Inc *		11,905		988
HashiCorp Inc, Cl A *		13,526		465
Hewlett Packard Enterprise Co		191,057		2,755
HP Inc		124,107		3,607
HubSpot Inc *		2,674		1,385
Intel Corp		286,919		9,021
Intuit Inc		16,353		6,854
Juniper Networks Inc		5,333		162
KLA Corp		3,164		1,402
Lam Research Corp		3,776		2,329
Marvell Technology Inc		89,777		5,251
Microchip Technology Inc		54,853		4,128
Micron Technology Inc		5,472		373
Microsoft Corp		190,457		62,544
MongoDB Inc, Cl A *		2,676		786
Monolithic Power Systems Inc		3,621		1,774
Motorola Solutions Inc		22,095		6,229
New Relic Inc *		10,948		771
Nutanix Inc, Cl A *		57,471		1,702
NVIDIA Corp		37,876		14,330
Okta Inc, Cl A *		6,648		604
Oracle Corp		34,580		3,663
Palo Alto Networks Inc *		1,635		349
QUALCOMM Inc		68,742		7,796
salesforce.com inc *		8,763		1,958
ServiceNow Inc *		6,429		3,502
Smartsheet Inc, Cl A *		15,251		756
Splunk Inc *		17,933		1,781
Synopsys Inc *		7,293		3,318
Teradyne Inc		56,102		5,621
Twilio Inc, Cl A *		4,284		298
UiPath Inc, Cl A *		27,584		494


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Workday Inc, Cl A *		21,022	$	4,456

				280,142
Materials — 3.5%
Air Products and Chemicals Inc		12,470		3,356
Avery Dennison Corp		27,455		4,424
Commercial Metals Co		13,965		597
Crown Holdings Inc		48,070		3,664
Eastman Chemical Co		34,431		2,654
Ecolab Inc		11,653		1,923
International Flavors & Fragrances Inc		29,925		2,313
Linde PLC		11,511		4,071
Martin Marietta Materials Inc		4,931		1,963
Nucor Corp		302		40
PPG Industries Inc		21,266		2,792
Reliance Steel & Aluminum Co		19,229		4,513
Sherwin-Williams Co/The		43,920		10,004
Steel Dynamics Inc		13,204		1,213
Vulcan Materials Co		5,338		1,044

				44,571
Real Estate — 2.7%
American Homes 4 Rent, Cl A ^‡		159,471		5,467
American Tower Corp, Cl A ^‡		12,437		2,294
Brixmor Property Group Inc ^‡		89,013		1,783
Crown Castle Inc ^‡		41,099		4,653
Equinix Inc ^‡		7,732		5,764
Extra Space Storage Inc ^‡		22,610		3,262
Invitation Homes Inc ^‡		86,983		2,947
Iron Mountain Inc ^‡		18,949		1,012
Lamar Advertising Co, Cl A ^‡		22,638		2,035
Prologis Inc ^‡		42,338		5,273

				34,490
Utilities — 2.6%
AES Corp/The		95,658		1,888
CMS Energy Corp		79,830		4,629


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Consolidated Edison Inc		15,597	$	1,455
Dominion Energy Inc		18,503		930
DTE Energy Co		28,824		3,102
Entergy Corp		28,047		2,754
Exelon Corp		30,777		1,220
FirstEnergy Corp		11,567		433
Pinnacle West Capital Corp		31,041		2,399
PPL Corp		253,613		6,645
Southern Co/The		49,999		3,487
UGI Corp		73,947		2,068
Vistra Corp		103,094		2,471

				33,481
Total Common Stock
(Cost $951,675) ($ Thousands)				1,150,547



AFFILIATED PARTNERSHIP — 0.0%
SEI Liquidity Fund, LP
5.010% **^†(A)		344		–


Total Affiliated Partnership
(Cost $—) ($ Thousands)				–



CASH EQUIVALENT — 4.0%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		51,400,622		51,401

Total Cash Equivalent
(Cost $51,401) ($ Thousands)				51,401


Total Investments in Securities — 94.2%
(Cost $1,003,076) ($ Thousands)			$	1,201,948

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open OTC Swap agreement held by the Fund at May 31, 2023, is as follows:

The following table represents the top 50 individual stock exposures or those exceeding 1% of the Custom Basket Total Return Swap as May 31, 2023:

	Percentages are based on Net Assets of $1,276,028 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
^‡	Real Estate Investment Trust.
(A)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $– ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

1,150,547

–

1,150,547

Affiliated Partnership

–

Cash Equivalent

51,401

–

51,401

Total Investments in Securities

1,201,948

–

1,201,948

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

143

–

143

OTC Swaps

Total Return Swaps*

Unrealized Appreciation

–

3,112

–

3,112

Total Other Financial Instruments

143

3,112

–

3,255

This category includes securities with a value less than $500.

*	Futures contracts and swap contracts are valued at the unrealized appreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† — 99.6%

Communication Services — 8.4%
Activision Blizzard Inc *		33,756	$	2,707
Alphabet Inc, Cl A *		258,860		31,806
Alphabet Inc, Cl C *		225,080		27,768
Altice USA Inc, Cl A *		11,900		30
AMC Entertainment Holdings Inc, Cl A *		22,500		101
AT&T Inc		303,485		4,774
Cable One Inc		257		157
Charter Communications Inc, Cl A *		4,497		1,467
Comcast Corp, Cl A		178,350		7,018
DISH Network Corp, Cl A *		12,726		82
Electronic Arts Inc		11,765		1,506
Fox Corp		19,527		597
Frontier Communications Parent Inc *		10,100		150
GCI Liberty - Escrow		4,949		—
IAC Inc *		3,932		220
Interpublic Group of Cos Inc/The		14,745		548
Liberty Broadband Corp, Cl A *		1,280		95
Liberty Broadband Corp, Cl C *		4,578		339
Liberty Media Corp-Liberty Formula One, Cl A *		1,200		76
Liberty Media Corp-Liberty Formula One, Cl C *		8,900		627
Liberty Media Corp-Liberty SiriusXM, Cl A *		2,720		76
Liberty Media Corp-Liberty SiriusXM, Cl C *		6,321		177
Live Nation Entertainment Inc *		7,100		568
Lumen Technologies Inc		42,806		85
Madison Square Garden Sports Corp, Cl A		986		174
Match Group Inc *		12,496		431
Meta Platforms Inc, Cl A *		95,700		25,334
Netflix Inc *		18,800		7,430
New York Times Co/The, Cl A		7,300		259
News Corp		6,300		116
News Corp, Cl A		17,046		312
Nexstar Media Group Inc, Cl A		1,600		241
Omnicom Group Inc		7,744		683
Paramount Global, Cl A (A)		715		13
Paramount Global, Cl B (A)		22,586		343


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Pinterest Inc, Cl A *		25,400	$	608
Playtika Holding Corp *		1,405		14
ROBLOX Corp, Cl A *		20,200		846
Roku Inc, Cl A *		6,100		355
Sirius XM Holdings Inc (A)		29,200		104
Spotify Technology SA *		6,100		908
Take-Two Interactive Software Inc *		7,435		1,024
T-Mobile US Inc *		24,692		3,389
Trade Desk Inc/The, Cl A *		19,600		1,374
TripAdvisor Inc *		5,167		80
Verizon Communications Inc		178,976		6,377
Walt Disney Co/The *		78,150		6,874
Warner Bros Discovery Inc *		105,736		1,193
World Wrestling Entertainment Inc, Cl A		2,200		223
ZoomInfo Technologies Inc, Cl A *		12,100		299

				139,978
Consumer Discretionary — 10.2%
ADT Inc		5,483		31
Advance Auto Parts Inc		2,708		197
Airbnb Inc, Cl A *		16,500		1,811
Amazon.com Inc *		382,840		46,163
Aptiv PLC *		12,100		1,066
Aramark		10,300		407
AutoNation Inc *		1,632		214
AutoZone Inc *		818		1,952
Bath & Body Works Inc		9,157		323
Best Buy Co Inc		8,447		614
Booking Holdings Inc *		1,678		4,210
BorgWarner Inc		9,164		406
Boyd Gaming Corp		2,400		153
Bright Horizons Family Solutions Inc *		1,500		128
Brunswick Corp/DE		3,200		242
Burlington Stores Inc *		2,900		436
Caesars Entertainment Inc *		9,200		377
Capri Holdings Ltd *		6,000		211
CarMax Inc *		6,860		495
Carnival Corp, Cl A *		43,600		490
Carter's Inc		2,100		131
Carvana Co, Cl A *		4,100		53
Chipotle Mexican Grill Inc, Cl A *		1,119		2,324
Choice Hotels International Inc		1,484		168
Churchill Downs Inc		3,200		435
Columbia Sportswear Co		2,000		148
Darden Restaurants Inc		5,168		819
Deckers Outdoor Corp *		1,100		523
Dick's Sporting Goods Inc		2,258		288
Domino's Pizza Inc		1,400		406
DoorDash Inc, Cl A *		11,400		744
DR Horton Inc		13,268		1,418
DraftKings Inc, Cl A *		15,800		369
eBay Inc		24,511		1,043
Etsy Inc *		5,600		454


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Expedia Group Inc *		5,622	$	538
Five Below Inc *		2,400		414
Floor & Decor Holdings Inc, Cl A *		4,600		420
Ford Motor Co		168,084		2,017
GameStop Corp, Cl A *(A)		12,800		308
Gap Inc/The		11,221		90
Garmin Ltd		6,700		691
General Motors Co		61,200		1,983
Gentex Corp		10,364		272
Genuine Parts Co		5,711		851
Grand Canyon Education Inc *		1,200		126
H&R Block Inc		7,025		210
Hanesbrands Inc		17,772		73
Harley-Davidson Inc		5,503		171
Hasbro Inc		5,667		336
Hilton Worldwide Holdings Inc		10,733		1,461
Home Depot Inc/The		43,879		12,438
Hyatt Hotels Corp, Cl A		2,100		226
Kohl's Corp		5,319		97
Las Vegas Sands Corp *		14,693		810
Lear Corp		2,400		294
Leggett & Platt Inc		7,212		220
Lennar Corp, Cl A		11,190		1,199
Lennar Corp, Cl B		713		67
Leslie's Inc *		6,900		65
Lithia Motors Inc, Cl A		1,200		280
LKQ Corp		10,700		564
Lowe's Cos Inc		25,810		5,191
Lucid Group Inc *(A)		23,800		185
Lululemon Athletica Inc *		4,800		1,593
Macy's Inc		9,300		126
Marriott International Inc/MD, Cl A		11,294		1,895
Marriott Vacations Worldwide Corp		1,100		136
Mattel Inc *		17,642		307
McDonald's Corp		31,780		9,061
MGM Resorts International		14,239		559
Mister Car Wash Inc *		3,900		32
Mohawk Industries Inc *		2,166		199
Newell Brands Inc		19,493		162
NIKE Inc, Cl B		51,168		5,386
Nordstrom Inc (A)		5,512		84
Norwegian Cruise Line Holdings Ltd *		18,900		281
NVR Inc *		134		744
Ollie's Bargain Outlet Holdings Inc *		3,200		176
O'Reilly Automotive Inc *		2,540		2,294
Peloton Interactive Inc, Cl A *		13,900		101
Penn Entertainment Inc *		7,000		175
Penske Automotive Group Inc		1,200		166
Petco Health & Wellness Co Inc, Cl A *		3,300		25
Planet Fitness Inc, Cl A *		2,700		173
Polaris Inc		1,900		205
Pool Corp		1,700		538


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
PulteGroup Inc		10,245	$	677
PVH Corp		2,200		189
QuantumScape Corp, Cl A *(A)		13,000		84
Ralph Lauren Corp, Cl A		1,880		200
RH *		900		220
Rivian Automotive Inc, Cl A *		23,700		349
Ross Stores Inc		14,376		1,490
Royal Caribbean Cruises Ltd *		8,900		721
Service Corp International/US		6,694		426
Six Flags Entertainment Corp *		4,000		102
Skechers USA Inc, Cl A *		5,800		298
Starbucks Corp		48,712		4,756
Tapestry Inc		10,367		415
Tempur Sealy International Inc		7,500		267
Tesla Inc *		111,055		22,647
Thor Industries Inc		1,400		110
TJX Cos Inc/The		50,316		3,864
Toll Brothers Inc		3,951		267
TopBuild Corp *		1,000		202
Tractor Supply Co		5,000		1,048
Travel + Leisure Co		4,368		159
Ulta Beauty Inc *		2,152		882
Under Armour Inc, Cl A *		9,700		70
Under Armour Inc, Cl C *		11,321		75
Vail Resorts Inc		1,800		438
Valvoline Inc		7,804		300
VF Corp		16,368		282
Victoria's Secret & Co *		3,852		79
Wayfair Inc, Cl A *(A)		4,000		161
Wendy's Co/The		9,175		202
Whirlpool Corp		2,416		312
Williams-Sonoma Inc		3,162		359
Wyndham Hotels & Resorts Inc		3,968		271
Wynn Resorts Ltd		4,596		454
YETI Holdings Inc *		4,400		161
Yum! Brands Inc		12,248		1,576

				169,377
Consumer Staples — 6.5%
Albertsons Cos Inc, Cl A		8,200		167
Altria Group Inc		77,740		3,453
Archer-Daniels-Midland Co		23,279		1,645
BJ's Wholesale Club Holdings Inc *		5,900		370
Boston Beer Co Inc/The, Cl A *		500		169
Brown-Forman Corp, Cl A		2,200		138
Brown-Forman Corp, Cl B		8,317		514
Bunge Ltd		6,500		602
Campbell Soup Co		7,678		388
Casey's General Stores Inc		1,400		316
Church & Dwight Co Inc		9,914		917
Clorox Co/The		5,103		807
Coca-Cola Co/The		168,040		10,025
Colgate-Palmolive Co		35,950		2,674


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Conagra Brands Inc		18,576	$	648
Constellation Brands Inc, Cl A		6,631		1,611
Costco Wholesale Corp		19,081		9,761
Coty Inc, Cl A *		17,622		191
Darling Ingredients Inc *		7,000		444
Dollar General Corp		9,800		1,971
Dollar Tree Inc *		8,934		1,205
Estee Lauder Cos Inc/The, Cl A		9,508		1,750
Flowers Foods Inc		9,725		243
Freshpet Inc *		2,200		131
General Mills Inc		25,492		2,145
Grocery Outlet Holding Corp *		4,500		129
Hershey Co/The		5,998		1,558
Hormel Foods Corp		12,756		488
Ingredion Inc		2,900		303
J M Smucker Co/The		4,511		661
Kellogg Co		10,703		715
Keurig Dr Pepper Inc		36,700		1,142
Kimberly-Clark Corp		14,818		1,990
Kraft Heinz Co/The		29,102		1,112
Kroger Co/The		28,346		1,285
Lamb Weston Holdings Inc		6,362		707
McCormick & Co Inc/MD		9,986		856
Molson Coors Beverage Co, Cl B		7,762		480
Mondelez International Inc, Cl A		57,806		4,244
Monster Beverage Corp *		31,974		1,874
Olaplex Holdings Inc *		4,200		13
PepsiCo Inc		59,152		10,786
Performance Food Group Co *		6,500		359
Philip Morris International Inc		66,368		5,974
Pilgrim's Pride Corp *		2,900		64
Post Holdings Inc *		1,800		153
Procter & Gamble Co/The		101,254		14,429
Reynolds Consumer Products Inc		3,100		85
Seaboard Corp		16		61
Spectrum Brands Holdings Inc		2,118		153
Sysco Corp		22,348		1,563
Target Corp		19,475		2,550
Tyson Foods Inc, Cl A		11,665		591
US Foods Holding Corp *		9,000		358
Walgreens Boots Alliance Inc		31,225		948
Walmart Inc		61,079		8,971

				106,887
Energy — 4.1%
Antero Midstream Corp		17,300		177
Antero Resources Corp *		12,900		263
APA Corp		14,859		472
Baker Hughes Co, Cl A		39,840		1,086
Cheniere Energy Inc		10,800		1,510
Chesapeake Energy Corp		5,600		421
Chevron Corp		82,798		12,471
ConocoPhillips		52,055		5,169


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Coterra Energy Inc, Cl A		34,981	$	813
Devon Energy Corp		26,627		1,228
Diamondback Energy Inc		7,617		969
DT Midstream Inc		4,882		222
Enviva Inc		1,900		17
EOG Resources Inc		25,190		2,703
EQT Corp		16,719		581
Exxon Mobil Corp		177,038		18,090
Halliburton Co		39,136		1,121
Hess Corp		12,112		1,534
HF Sinclair Corp		5,726		237
Kinder Morgan Inc		86,622		1,395
Marathon Oil Corp		28,376		629
Marathon Petroleum Corp		19,419		2,037
New Fortress Energy Inc, Cl A		1,500		39
NOV Inc		14,580		205
Occidental Petroleum Corp		34,619		1,996
ONEOK Inc		19,958		1,131
Ovintiv Inc		11,400		377
PDC Energy Inc		3,600		247
Phillips 66		20,088		1,840
Pioneer Natural Resources Co		9,832		1,961
Range Resources Corp		11,200		307
Schlumberger NV		60,955		2,611
Southwestern Energy Co *		45,300		216
Targa Resources Corp		10,100		687
Texas Pacific Land Corp		256		334
Valero Energy Corp		15,936		1,706
Vitesse Energy Inc		883		20
Williams Cos Inc/The		53,596		1,536

				68,358
Financials — 12.8%
Affiliated Managers Group Inc		1,720		239
Affirm Holdings Inc, Cl A *		7,000		104
Aflac Inc		26,012		1,670
AGNC Investment Corp ^‡		26,859		247
Allstate Corp/The		11,725		1,272
Ally Financial Inc		11,500		307
American Express Co		25,372		4,023
American Financial Group Inc/OH		2,914		327
American International Group Inc		30,723		1,623
Ameriprise Financial Inc		4,580		1,367
Annaly Capital Management Inc ^‡		20,902		395
Aon PLC, Cl A		8,921		2,750
Apollo Global Management Inc		19,819		1,325
Arch Capital Group Ltd *		15,900		1,108
Ares Management Corp, Cl A		7,200		627
Arthur J Gallagher & Co		9,087		1,820
Assurant Inc		2,493		299
Assured Guaranty Ltd		2,600		135
Axis Capital Holdings Ltd		3,800		197
Bank of America Corp		301,763		8,386


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Bank of Hawaii Corp (A)		2,082	$	81
Bank of New York Mellon Corp/The		32,909		1,323
Bank OZK (A)		3,900		135
Berkshire Hathaway Inc, Cl B *		77,600		24,916
BlackRock Inc, Cl A		6,385		4,198
Blackstone Inc		30,800		2,638
Block Inc, Cl A *		21,900		1,323
Blue Owl Capital Inc, Cl A		14,500		149
BOK Financial Corp		1,475		120
Brighthouse Financial Inc *		1,528		62
Brown & Brown Inc		10,248		639
Capital One Financial Corp		16,425		1,712
Carlyle Group Inc/The		8,300		227
Cboe Global Markets Inc		4,800		636
Charles Schwab Corp/The		66,340		3,495
Chubb Ltd		17,991		3,343
Cincinnati Financial Corp		6,886		664
Citigroup Inc		84,304		3,736
Citizens Financial Group Inc		22,400		577
CME Group Inc, Cl A		15,070		2,694
CNA Financial Corp		1,500		55
Coinbase Global Inc, Cl A *(A)		6,800		423
Columbia Banking System Inc		6,732		135
Comerica Inc		5,753		208
Commerce Bancshares Inc/MO		4,249		204
Corebridge Financial Inc		3,600		60
Credit Acceptance Corp *(A)		300		134
Cullen/Frost Bankers Inc		2,568		257
Discover Financial Services		11,389		1,170
East West Bancorp Inc		5,900		282
Equitable Holdings Inc		14,300		351
Erie Indemnity Co, Cl A		1,119		240
Euronet Worldwide Inc *		2,100		234
Evercore Inc, Cl A		1,100		119
Everest Re Group Ltd		1,700		578
Eversource Energy		15,426		1,068
F&G Annuities & Life Inc		792		16
FactSet Research Systems Inc		1,725		664
Fidelity National Financial Inc		11,652		398
Fidelity National Information Services Inc		24,948		1,361
Fifth Third Bancorp		30,182		732
First American Financial Corp		4,500		247
First Citizens BancShares Inc/NC, Cl A		400		499
First Hawaiian Inc		6,600		109
First Horizon Corp		24,656		254
Fiserv Inc *		24,774		2,779
FleetCor Technologies Inc *		3,100		702
FNB Corp/PA		17,100		188
Franklin Resources Inc		12,649		304
Global Payments Inc		10,752		1,050
Globe Life Inc		4,087		422
Goldman Sachs Group Inc/The		14,275		4,624


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Hanover Insurance Group Inc/The		1,893	$	211
Hartford Financial Services Group Inc/The		13,510		926
Huntington Bancshares Inc/OH		65,982		680
Interactive Brokers Group Inc, Cl A		4,100		317
Intercontinental Exchange Inc		23,600		2,500
Invesco Ltd		17,600		253
Jack Henry & Associates Inc		3,300		505
Janus Henderson Group PLC		5,400		142
Jefferies Financial Group Inc		7,506		226
JPMorgan Chase & Co		125,870		17,082
Kemper Corp		3,300		143
KeyCorp		41,951		392
KKR & Co Inc		24,300		1,251
Lazard Ltd, Cl A		3,800		109
Lincoln National Corp		7,788		163
Loews Corp		8,836		495
LPL Financial Holdings Inc		3,300		643
M&T Bank Corp		7,657		912
Markel Group Inc *		577		759
MarketAxess Holdings Inc		1,700		463
Marsh & McLennan Cos Inc		21,365		3,700
Mastercard Inc, Cl A		36,500		13,323
MetLife Inc		29,409		1,457
MGIC Investment Corp		10,600		160
Moody's Corp		6,727		2,132
Morgan Stanley		52,314		4,277
Morningstar Inc		1,200		246
MSCI Inc, Cl A		3,400		1,600
Nasdaq Inc		15,430		854
New York Community Bancorp Inc		29,972		308
Northern Trust Corp		9,505		684
Old Republic International Corp		9,290		227
OneMain Holdings Inc, Cl A		5,900		223
PacWest Bancorp (A)		5,900		38
PayPal Holdings Inc *		48,111		2,982
Pinnacle Financial Partners Inc		3,800		185
PNC Financial Services Group Inc/The		17,322		2,006
Popular Inc		2,853		163
Primerica Inc		1,600		291
Principal Financial Group Inc		10,708		701
Progressive Corp/The		25,280		3,234
Prosperity Bancshares Inc		3,900		223
Prudential Financial Inc		14,963		1,177
Raymond James Financial Inc		8,631		780
Regions Financial Corp		40,687		703
Reinsurance Group of America Inc, Cl A		2,699		378
RenaissanceRe Holdings Ltd		1,600		301
Rithm Capital Corp ^‡		22,300		182
Robinhood Markets Inc, Cl A *		22,200		198
Rocket Cos Inc, Cl A *(A)		7,200		58
Ryan Specialty Holdings Inc, Cl A *		2,700		110
S&P Global Inc		13,776		5,062


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
SEI Investments Co ^†		4,542	$	257
Shift4 Payments Inc, Cl A *		2,400		151
SLM Corp		8,731		133
SoFi Technologies Inc *(A)		32,100		223
Starwood Property Trust Inc ^‡(A)		12,800		225
State Street Corp		15,379		1,046
Stifel Financial Corp		5,200		289
Synchrony Financial		20,118		623
Synovus Financial Corp		7,496		203
T Rowe Price Group Inc		9,830		1,053
TFS Financial Corp		2,500		28
Toast Inc, Cl A *		11,600		243
Tradeweb Markets Inc, Cl A		5,300		355
Travelers Cos Inc/The		10,175		1,722
Truist Financial Corp		54,963		1,675
Unum Group		7,905		343
Upstart Holdings Inc *		2,400		65
US Bancorp		59,997		1,794
UWM Holdings Corp		2,300		12
Virtu Financial Inc, Cl A		4,500		79
Visa Inc, Cl A		70,100		15,494
Voya Financial Inc		4,400		298
W R Berkley Corp		8,981		500
Webster Financial Corp		6,946		247
Wells Fargo & Co		163,466		6,508
Western Alliance Bancorp		5,200		176
Western Union Co/The		17,028		194
WEX Inc *		2,000		332
White Mountains Insurance Group Ltd		79		107
Willis Towers Watson PLC		4,462		976
Wintrust Financial Corp		2,900		184
Zions Bancorp NA (A)		5,602		153

				212,579
Health Care — 13.4%
10X Genomics Inc, Cl A *		4,400		231
Abbott Laboratories		73,137		7,460
AbbVie Inc		75,701		10,444
Acadia Healthcare Co Inc *		3,500		247
Agilent Technologies Inc		12,864		1,488
agilon health Inc *		8,800		175
Align Technology Inc *		3,400		961
Alnylam Pharmaceuticals Inc *		5,500		1,018
Amedisys Inc *		1,600		121
AmerisourceBergen Corp		6,924		1,178
Amgen Inc		22,658		4,999
Avantor Inc *		28,800		574
Azenta Inc *		3,800		164
Baxter International Inc		21,415		872
Becton Dickinson & Co		12,370		2,991
Biogen Inc *		5,900		1,749
BioMarin Pharmaceutical Inc *		8,000		696
Bio-Rad Laboratories Inc, Cl A *		900		336


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Bio-Techne Corp		6,564	$	537
Boston Scientific Corp *		62,039		3,194
Bristol-Myers Squibb Co		91,119		5,872
Bruker Corp		5,200		359
Cardinal Health Inc		10,929		899
Catalent Inc *		8,100		302
Centene Corp *		22,758		1,420
Certara Inc *		5,700		118
Charles River Laboratories International Inc *		1,943		376
Chemed Corp		700		374
Cigna Group/The		12,802		3,167
Cooper Cos Inc/The		2,004		745
CVS Health Corp		55,099		3,748
Danaher Corp		27,702		6,361
DaVita Inc *		2,285		214
Definitive Healthcare Corp, Cl A *		600		6
DENTSPLY SIRONA Inc		9,466		342
Dexcom Inc *		16,900		1,982
Doximity Inc, Cl A *		3,700		113
Edwards Lifesciences Corp *		26,084		2,197
Elanco Animal Health Inc *		22,637		185
Elevance Health Inc		10,231		4,582
Eli Lilly & Co		36,171		15,534
Encompass Health Corp		3,800		236
Enhabit Inc *		2,550		27
Enovis Corp *		2,166		114
Envista Holdings Corp *		8,200		262
Exact Sciences Corp *		7,800		636
Exelixis Inc *		15,800		305
GE HealthCare Technologies Inc		16,256		1,293
Gilead Sciences Inc		54,734		4,211
Globus Medical Inc, Cl A *		4,000		217
Guardant Health Inc *		4,400		129
HCA Healthcare Inc		9,400		2,483
Henry Schein Inc *		6,168		456
Hologic Inc *		10,300		813
Horizon Therapeutics Plc *		9,500		950
Humana Inc		5,475		2,748
ICU Medical Inc *		1,000		175
IDEXX Laboratories Inc *		3,604		1,675
Illumina Inc *		6,805		1,338
Incyte Corp *		7,600		468
Insulet Corp *		3,000		823
Integra LifeSciences Holdings Corp *		3,600		137
Intuitive Surgical Inc *		14,915		4,591
Ionis Pharmaceuticals Inc *		7,200		294
IQVIA Holdings Inc *		8,213		1,617
Jazz Pharmaceuticals PLC *		2,700		346
Johnson & Johnson		113,609		17,616
Laboratory Corp of America Holdings		3,890		827
Maravai LifeSciences Holdings Inc, Cl A *		5,700		73


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Masimo Corp *		2,100	$	340
McKesson Corp		5,870		2,294
Medtronic PLC		58,126		4,811
Merck & Co Inc		108,443		11,973
Mettler-Toledo International Inc *		949		1,254
Mirati Therapeutics Inc *		2,100		78
Moderna Inc *		13,800		1,762
Molina Healthcare Inc *		2,600		712
Natera Inc *		4,300		203
Neurocrine Biosciences Inc *		3,900		349
Novavax Inc *(A)		4,000		32
Novocure Ltd *		4,100		294
Organon & Co		9,754		189
Penumbra Inc *		1,400		430
Perrigo Co PLC		7,800		249
Pfizer Inc		243,022		9,240
Premier Inc, Cl A		6,100		153
QIAGEN NV *		9,940		449
Quest Diagnostics Inc		4,644		616
QuidelOrtho Corp *		1,900		162
Regeneron Pharmaceuticals Inc *		4,342		3,194
Repligen Corp *		2,300		386
ResMed Inc		6,012		1,267
Revvity Inc		5,734		661
Royalty Pharma PLC, Cl A		16,800		550
Sarepta Therapeutics Inc *		3,400		420
Seagen Inc *		5,800		1,135
Sotera Health Co *		4,500		63
STERIS PLC		4,300		860
Stryker Corp		15,004		4,135
Syneos Health Inc, Cl A *		5,200		216
Tandem Diabetes Care Inc *		3,300		86
Teladoc Health Inc *		7,853		182
Teleflex Inc		2,140		502
Tenet Healthcare Corp *		4,200		299
Thermo Fisher Scientific Inc		16,825		8,555
Ultragenyx Pharmaceutical Inc *		3,500		173
United Therapeutics Corp *		1,900		399
UnitedHealth Group Inc		40,220		19,597
Universal Health Services Inc, Cl B		2,876		380
Veeva Systems Inc, Cl A *		6,200		1,027
Vertex Pharmaceuticals Inc *		10,900		3,527
Viatris Inc		57,022		522
Waters Corp *		2,373		596
West Pharmaceutical Services Inc		3,200		1,071
Zimmer Biomet Holdings Inc		9,325		1,187
Zoetis Inc, Cl A		19,944		3,251

				223,022
Industrials — 9.1%
3M Co		23,362		2,180
A O Smith Corp		5,400		345
Acuity Brands Inc		1,200		181


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Advanced Drainage Systems Inc		3,100	$	300
AECOM		6,116		477
AGCO Corp		2,400		265
Air Lease Corp, Cl A		5,300		201
Alaska Air Group Inc *		6,200		279
Allegion plc		3,766		394
Allison Transmission Holdings Inc		4,200		199
American Airlines Group Inc *		24,600		364
AMETEK Inc		9,328		1,353
Armstrong World Industries Inc		2,400		150
Automatic Data Processing Inc		18,192		3,802
Avis Budget Group Inc *		1,000		168
Axon Enterprise Inc *		3,000		579
AZEK Co Inc/The, Cl A *		6,100		142
Boeing Co/The *		23,493		4,832
Booz Allen Hamilton Holding Corp, Cl A		5,900		593
Broadridge Financial Solutions Inc		4,873		715
Builders FirstSource Inc *		6,300		730
BWX Technologies Inc		3,950		238
CACI International Inc, Cl A *		1,036		310
Carlisle Cos Inc		2,366		503
Carrier Global Corp		35,278		1,443
Caterpillar Inc		22,647		4,660
Ceridian HCM Holding Inc *		5,200		322
CH Robinson Worldwide Inc		5,248		496
ChargePoint Holdings Inc *(A)		14,500		140
Cintas Corp		3,757		1,774
Clarivate PLC *		22,600		176
Clean Harbors Inc *		2,000		281
Concentrix Corp		2,200		193
Copa Holdings SA, Cl A		1,200		126
Copart Inc *		17,572		1,539
Core & Main Inc, Cl A *		2,900		78
CoStar Group Inc *		16,500		1,310
Crane Co		2,100		153
Crane NXT Co		2,100		110
CSX Corp		91,188		2,797
Cummins Inc		6,312		1,290
Curtiss-Wright Corp		1,700		269
Deere & Co		11,819		4,089
Delta Air Lines Inc *		26,400		959
Donaldson Co Inc		5,444		319
Dover Corp		5,757		768
Driven Brands Holdings Inc *		2,400		60
Dun & Bradstreet Holdings Inc		8,900		89
Eaton Corp PLC		17,016		2,993
Emerson Electric Co		24,110		1,873
Equifax Inc		5,256		1,096
Esab Corp		2,166		127
Expeditors International of Washington Inc		6,848		755
Fastenal Co		25,748		1,387
FedEx Corp		9,944		2,168


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Flowserve Corp		6,800	$	221
Fortive Corp		15,853		1,032
Fortune Brands Innovations Inc		5,520		334
FTI Consulting Inc *		1,700		320
Gates Industrial Corp PLC *		4,900		57
Generac Holdings Inc *		2,700		294
General Dynamics Corp		10,672		2,179
General Electric Co		46,970		4,769
Genpact Ltd		6,800		250
Graco Inc		7,872		602
GXO Logistics Inc *		5,000		280
Hayward Holdings Inc *		2,100		23
HEICO Corp		2,010		311
HEICO Corp, Cl A		3,121		380
Hertz Global Holdings Inc *		8,400		132
Hexcel Corp		2,600		179
Honeywell International Inc		28,690		5,497
Howmet Aerospace Inc		16,667		712
Hubbell Inc, Cl B		2,392		676
Huntington Ingalls Industries Inc		1,537		309
IDEX Corp		3,393		676
Illinois Tool Works Inc		13,380		2,927
Ingersoll Rand Inc		17,765		1,007
ITT Inc		3,451		263
Jacobs Solutions Inc		5,784		634
JB Hunt Transport Services Inc		3,652		610
JetBlue Airways Corp *		16,300		111
Johnson Controls International plc		28,566		1,705
KBR Inc		5,500		325
Kirby Corp *		3,100		222
Knight-Swift Transportation Holdings Inc, Cl A		6,400		352
L3Harris Technologies Inc		8,234		1,449
Landstar System Inc		1,565		274
Leidos Holdings Inc		5,673		443
Lennox International Inc		1,320		364
Lincoln Electric Holdings Inc		2,200		373
Lockheed Martin Corp		9,873		4,384
Lyft Inc, Cl A *		14,900		134
ManpowerGroup Inc		1,484		104
Masco Corp		9,279		448
MasTec Inc *		3,100		314
Masterbrand Inc *		5,520		57
MDU Resources Group Inc		8,721		254
Mercury Systems Inc *		2,800		114
Middleby Corp/The *		2,100		277
MSA Safety Inc		1,900		261
MSC Industrial Direct Co Inc, Cl A		2,320		209
Nordson Corp		2,600		567
Norfolk Southern Corp		9,895		2,060
Northrop Grumman Corp		6,278		2,734
nVent Electric PLC		7,273		315


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Old Dominion Freight Line Inc		4,300	$	1,335
Oshkosh Corp		2,859		211
Otis Worldwide Corp		17,939		1,426
Owens Corning		4,200		447
PACCAR Inc		21,044		1,447
Parker-Hannifin Corp		5,304		1,700
Paychex Inc		13,907		1,459
Paycom Software Inc		2,200		616
Paycor HCM Inc *		1,700		37
Paylocity Holding Corp *		1,700		294
Pentair PLC		6,373		353
Plug Power Inc *(A)		21,700		181
Quanta Services Inc		6,367		1,131
Raytheon Technologies Corp		62,562		5,764
RB Global Inc		2,310		120
Regal Rexnord Corp		2,776		361
Republic Services Inc, Cl A		9,242		1,309
Robert Half International Inc		4,776		311
Rockwell Automation Inc		5,104		1,422
Rollins Inc		8,737		344
RXO Inc *		5,000		104
Ryder System Inc		2,206		174
Schneider National Inc, Cl B		3,000		78
Science Applications International Corp		2,500		243
Sensata Technologies Holding PLC		5,100		212
SiteOne Landscape Supply Inc *		2,200		303
Snap-on Inc		2,191		545
Southwest Airlines Co		25,720		768
Spirit AeroSystems Holdings Inc, Cl A		5,400		144
SS&C Technologies Holdings Inc		10,100		555
Stanley Black & Decker Inc		6,893		517
Stericycle Inc *		4,726		199
Sunrun Inc *		7,400		131
Tetra Tech Inc		2,200		302
Textron Inc		9,322		577
Timken Co/The		2,669		191
Toro Co/The		4,440		434
Trane Technologies PLC		9,900		1,616
TransDigm Group Inc		2,093		1,619
TransUnion		8,700		626
Trex Co Inc *		4,900		252
Uber Technologies Inc *		80,900		3,069
U-Haul Holding Co		400		21
U-Haul Holding Co, Cl B		3,600		167
Union Pacific Corp		26,132		5,031
United Airlines Holdings Inc *		14,500		688
United Parcel Service Inc, Cl B		31,241		5,217
United Rentals Inc		2,900		968
Univar Solutions Inc *		5,200		185
Valmont Industries Inc		900		236
Verisk Analytics Inc, Cl A		6,900		1,512
Vertiv Holdings Co, Cl A		15,600		301


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Waste Management Inc		17,394	$	2,816
Watsco Inc		1,300		422
WESCO International Inc		1,800		247
Westinghouse Air Brake Technologies Corp		7,637		707
WillScot Mobile Mini Holdings Corp, Cl A *		9,200		396
Woodward Inc		1,800		190
WW Grainger Inc		1,887		1,225
XPO Inc *		5,000		235
Xylem Inc/NY		10,202		1,022

				150,177
Information Technology — 27.2%
Accenture PLC, Cl A		27,300		8,352
Adobe Inc *		19,602		8,190
Advanced Micro Devices Inc *		69,313		8,193
Akamai Technologies Inc *		7,218		665
Allegro MicroSystems Inc *		2,100		83
Alteryx Inc, Cl A *		3,200		125
Amdocs Ltd		5,400		509
Amphenol Corp, Cl A		25,568		1,929
Analog Devices Inc		22,003		3,910
ANSYS Inc *		3,700		1,197
Apple Inc		646,763		114,639
Applied Materials Inc		36,155		4,819
AppLovin Corp, Cl A *		9,600		240
Arista Networks Inc *		10,300		1,713
Arrow Electronics Inc *		2,789		353
Aspen Technology Inc *		970		159
Atlassian Corp Ltd, Cl A *		6,200		1,121
Autodesk Inc *		9,637		1,922
Avnet Inc		2,610		114
Bentley Systems Inc, Cl B		7,400		361
BILL Holdings Inc *		4,700		487
Black Knight Inc *		6,100		352
Broadcom Inc		16,932		13,680
Cadence Design Systems Inc *		11,363		2,624
CCC Intelligent Solutions Holdings Inc *		4,400		48
CDW Corp/DE		6,000		1,030
Ciena Corp *		6,100		285
Cirrus Logic Inc *		1,600		124
Cisco Systems Inc		176,527		8,768
Cloudflare Inc, Cl A *		12,700		878
Cognex Corp		7,700		423
Cognizant Technology Solutions Corp, Cl A		22,176		1,386
Coherent Corp *		5,283		195
Confluent Inc, Cl A *		4,200		133
Corning Inc		32,058		988
Crowdstrike Holdings Inc, Cl A *		9,200		1,473
Datadog Inc, Cl A *		11,900		1,129
Dell Technologies Inc, Cl C		10,342		463
DocuSign Inc, Cl A *		8,900		502
Dolby Laboratories Inc, Cl A		1,943		160
DoubleVerify Holdings Inc *		2,800		98


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Dropbox Inc, Cl A *		11,800	$	272
DXC Technology Co *		11,036		276
Dynatrace Inc *		8,800		449
Elastic NV *		3,700		269
Enphase Energy Inc *		5,900		1,026
Entegris Inc		5,800		610
EPAM Systems Inc *		2,500		642
F5 Inc *		2,531		374
Fair Isaac Corp *		1,100		866
First Solar Inc *		4,500		913
Five9 Inc *		3,600		238
Fortinet Inc *		26,900		1,838
Gartner Inc *		3,410		1,169
Gen Digital Inc		25,848		453
GLOBALFOUNDRIES Inc *(A)		2,700		158
Globant SA *		1,700		312
GoDaddy Inc, Cl A *		6,800		499
Guidewire Software Inc *		3,500		290
Hewlett Packard Enterprise Co		55,870		806
HP Inc		41,970		1,220
HubSpot Inc *		2,000		1,036
Informatica Inc, Cl A *		1,700		30
Intel Corp		175,658		5,523
International Business Machines Corp		38,801		4,989
Intuit Inc		11,952		5,009
IPG Photonics Corp *		800		88
Jabil Inc		5,574		499
Jamf Holding Corp *		2,600		48
Juniper Networks Inc		13,025		396
Keysight Technologies Inc *		7,232		1,170
KLA Corp		5,849		2,591
Kyndryl Holdings Inc *		11,559		145
Lam Research Corp		5,752		3,547
Lattice Semiconductor Corp *		5,800		472
Littelfuse Inc		1,200		307
Lumentum Holdings Inc *		3,700		196
Manhattan Associates Inc *		2,600		472
Marvell Technology Inc		35,038		2,049
Microchip Technology Inc		22,630		1,703
Micron Technology Inc		47,416		3,234
Microsoft Corp		321,916		105,714
MKS Instruments Inc		2,900		282
MongoDB Inc, Cl A *		2,800		823
Monolithic Power Systems Inc		2,002		981
Motorola Solutions Inc		6,814		1,921
National Instruments Corp		4,504		260
nCino Inc *		2,900		80
NCR Corp *		6,589		156
NetApp Inc		9,855		654
New Relic Inc *		2,700		190
Nutanix Inc, Cl A *		10,700		317
NVIDIA Corp		101,824		38,524


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Okta Inc, Cl A *		6,000	$	545
ON Semiconductor Corp *		18,500		1,547
Oracle Corp		65,120		6,899
Palantir Technologies Inc, Cl A *		72,900		1,072
Palo Alto Networks Inc *		12,462		2,659
Pegasystems Inc		2,100		102
Procore Technologies Inc *		3,100		187
PTC Inc *		4,600		618
Pure Storage Inc, Cl A *		13,600		392
Qorvo Inc *		4,800		467
QUALCOMM Inc		47,559		5,394
RingCentral Inc, Cl A *		4,300		149
Roper Technologies Inc		4,400		1,999
Salesforce Inc *		41,318		9,230
SentinelOne Inc, Cl A *		10,200		218
ServiceNow Inc *		8,800		4,794
Skyworks Solutions Inc		6,800		704
Smartsheet Inc, Cl A *		6,200		307
Snowflake Inc, Cl A *		13,700		2,265
Splunk Inc *		6,900		685
Synopsys Inc *		6,682		3,040
TD SYNNEX Corp		2,200		197
Teledyne Technologies Inc *		1,867		726
Teradata Corp *		5,489		257
Teradyne Inc		7,263		728
Texas Instruments Inc		38,908		6,765
Thoughtworks Holding Inc *		2,200		18
Trimble Inc *		11,328		529
Twilio Inc, Cl A *		6,800		473
Tyler Technologies Inc *		1,700		675
Ubiquiti Inc		300		49
UiPath Inc, Cl A *		15,800		283
Unity Software Inc *		8,800		262
Universal Display Corp		2,200		324
VeriSign Inc *		4,185		935
Viasat Inc *		3,600		161
VMware Inc, Cl A *		9,051		1,234
Vontier Corp		6,801		202
Western Digital Corp *		14,096		546
Wix.com Ltd *		2,700		206
Wolfspeed Inc *		5,000		240
Workday Inc, Cl A *		8,600		1,823
Zebra Technologies Corp, Cl A *		2,325		610
Zoom Video Communications Inc, Cl A *		10,500		705
Zscaler Inc *		4,000		542

				451,669
Materials — 2.6%
Air Products and Chemicals Inc		9,594		2,582
Albemarle Corp		5,073		982
Alcoa Corp		8,600		273
Amcor PLC		67,100		647
AptarGroup Inc		2,600		292


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Ardagh Metal Packaging SA		10,100	$	36
Ashland Inc		2,176		185
Avery Dennison Corp		3,710		598
Axalta Coating Systems Ltd *		10,600		308
Ball Corp		13,800		706
Berry Global Group Inc		5,200		297
Celanese Corp, Cl A		4,683		487
CF Industries Holdings Inc		8,230		506
Chemours Co/The		4,300		114
Cleveland-Cliffs Inc *		22,500		312
Corteva Inc		29,476		1,577
Crown Holdings Inc		5,451		416
Dow Inc		30,676		1,496
DuPont de Nemours Inc		19,109		1,284
Eagle Materials Inc		1,700		277
Eastman Chemical Co		4,528		349
Ecolab Inc		10,955		1,808
Element Solutions Inc		11,900		213
FMC Corp		5,620		585
Freeport-McMoRan Inc, Cl B		62,224		2,137
Ginkgo Bioworks Holdings Inc *(A)		51,000		81
Graphic Packaging Holding Co		14,600		349
Huntsman Corp		6,029		143
International Flavors & Fragrances Inc		10,852		839
International Paper Co		16,055		473
Linde PLC		21,300		7,533
Louisiana-Pacific Corp		2,600		152
LyondellBasell Industries NV, Cl A		11,160		955
Martin Marietta Materials Inc		2,663		1,060
Mosaic Co/The		14,078		450
MP Materials Corp *		5,300		110
NewMarket Corp		300		117
Newmont Corp		33,933		1,376
Nucor Corp		10,890		1,438
Olin Corp		5,500		260
Packaging Corp of America		4,099		508
PPG Industries Inc		9,665		1,269
Reliance Steel & Aluminum Co		2,700		634
Royal Gold Inc		2,600		322
RPM International Inc		5,569		444
Scotts Miracle-Gro Co/The, Cl A		2,106		133
Sealed Air Corp		6,268		237
Sherwin-Williams Co/The		10,211		2,326
Silgan Holdings Inc		4,308		194
Sonoco Products Co		4,146		248
Southern Copper Corp		4,268		285
SSR Mining Inc		11,900		176
Steel Dynamics Inc		7,100		652
United States Steel Corp		10,400		218
Vulcan Materials Co		5,757		1,125
Westlake Corp		1,700		177


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Westrock Co		11,045	$	309

				43,060
Real Estate — 2.8%
Alexandria Real Estate Equities Inc ^‡		7,200		817
American Homes 4 Rent, Cl A ^‡		14,300		490
American Tower Corp, Cl A ^‡		19,912		3,673
Americold Realty Trust Inc ^‡		11,600		340
Apartment Income REIT Corp ^‡		6,805		236
AvalonBay Communities Inc ^‡		6,241		1,086
Boston Properties Inc ^‡		6,984		340
Brixmor Property Group Inc ^‡		15,100		302
Camden Property Trust ^‡		4,647		485
CBRE Group Inc, Cl A *		13,917		1,043
Cousins Properties Inc ^‡		7,900		157
Crown Castle Inc ^‡		18,496		2,094
CubeSmart ^‡		9,000		400
Digital Realty Trust Inc ^‡		12,796		1,311
Douglas Emmett Inc ^‡		8,600		100
EastGroup Properties Inc ^‡		1,600		263
EPR Properties ^‡		3,800		159
Equinix Inc ^‡		3,863		2,880
Equity LifeStyle Properties Inc ^‡		7,700		486
Equity Residential ^‡		15,877		965
Essex Property Trust Inc ^‡		2,963		640
Extra Space Storage Inc ^‡		6,000		866
Federal Realty Investment Trust ^‡		3,496		308
First Industrial Realty Trust Inc ^‡		4,600		239
Gaming and Leisure Properties Inc ^‡		10,635		512
Healthcare Realty Trust Inc, Cl A ^‡		15,700		292
Healthpeak Properties Inc ^‡		24,074		481
Highwoods Properties Inc ^‡		5,400		112
Host Hotels & Resorts Inc ^‡		33,340		553
Howard Hughes Corp/The *		1,073		80
Hudson Pacific Properties Inc ^‡		7,600		36
Invitation Homes Inc ^‡		27,200		922
Iron Mountain Inc ^‡		12,903		689
JBG SMITH Properties ^‡		6,318		89
Jones Lang LaSalle Inc *		2,100		295
Kilroy Realty Corp ^‡		6,000		163
Kimco Realty Corp ^‡		25,071		461
Lamar Advertising Co, Cl A ^‡		3,840		345
Life Storage Inc ^‡		3,350		427
Medical Properties Trust Inc ^‡(A)		29,900		247
Mid-America Apartment Communities Inc ^‡		4,950		728
National Storage Affiliates Trust ^‡		4,700		172
NNN REIT Inc ^‡		8,800		374
Omega Healthcare Investors Inc ^‡		10,400		310
Opendoor Technologies Inc *		23,600		62
Park Hotels & Resorts Inc ^‡		12,188		158
Prologis Inc ^‡		39,003		4,858
Public Storage ^‡		6,468		1,832
Rayonier Inc ^‡		7,504		220


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Realty Income Corp ^‡		25,639	$	1,524
Regency Centers Corp ^‡		7,258		408
Rexford Industrial Realty Inc ^‡		7,800		425
SBA Communications Corp, Cl A ^‡		4,632		1,027
Simon Property Group Inc ^‡		13,981		1,470
SL Green Realty Corp ^‡(A)		3,455		80
Spirit Realty Capital Inc ^‡		6,320		247
Sun Communities Inc ^‡		5,500		696
UDR Inc ^‡		13,893		551
Ventas Inc ^‡		17,392		750
VICI Properties Inc, Cl A ^‡		43,100		1,333
Vornado Realty Trust ^‡		8,936		121
Welltower Inc ^‡		21,083		1,573
WeWork Inc, Cl A *		9,500		2
Weyerhaeuser Co ^‡		33,246		953
WP Carey Inc ^‡		8,600		597
Zillow Group Inc, Cl A *		3,343		150
Zillow Group Inc, Cl C *		7,086		323

				46,328
Utilities — 2.5%
AES Corp/The		29,724		587
Alliant Energy Corp		10,852		558
Ameren Corp		10,990		891
American Electric Power Co Inc		21,350		1,775
American Water Works Co Inc		8,100		1,170
Atmos Energy Corp		6,191		714
Avangrid Inc		3,094		116
Brookfield Renewable Corp, Cl A		6,600		222
CenterPoint Energy Inc		27,415		773
CMS Energy Corp		13,342		774
Consolidated Edison Inc		14,416		1,345
Constellation Energy Corp		14,092		1,184
Dominion Energy Inc		34,270		1,723
DTE Energy Co		8,564		921
Duke Energy Corp		33,216		2,966
Edison International		16,179		1,092
Entergy Corp		8,698		854
Essential Utilities Inc		10,646		434
Evergy Inc		9,649		558
Exelon Corp		43,276		1,716
FirstEnergy Corp		23,027		861
Hawaiian Electric Industries Inc		5,446		196
IDACORP Inc		2,200		229
National Fuel Gas Co		4,489		228
NextEra Energy Inc		84,592		6,214
NiSource Inc		18,021		485
NRG Energy Inc		10,200		345
OGE Energy Corp		8,836		312
PG&E Corp *		73,318		1,242
Pinnacle West Capital Corp		4,992		386
PPL Corp		33,026		865
Public Service Enterprise Group Inc		20,352		1,216


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Sempra Energy		13,123	$	1,883
Southern Co/The		47,303		3,299
UGI Corp		9,325		261
Vistra Corp		19,000		455
WEC Energy Group Inc		12,957		1,132
Xcel Energy Inc		23,781		1,553

				41,535
Total Common Stock
(Cost $429,570) ($ Thousands)				1,652,970



AFFILIATED PARTNERSHIP — 0.2%
SEI Liquidity Fund, LP
5.010% **^†(B)		3,522,404		3,520


Total Affiliated Partnership
(Cost $3,522) ($ Thousands)				3,520



CASH EQUIVALENT — 0.3%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		4,589,853		4,590

Total Cash Equivalent
(Cost $4,590) ($ Thousands)				4,590


Total Investments in Securities — 100.1%
(Cost $437,682) ($ Thousands)			$	1,661,080

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $1,659,371 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^‡	Real Estate Investment Trust.
^†	Investment in Affiliated Security (see Note 6).
^†^†	Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.
(A)	Certain securities or partial positions of certain securities are on loan at May 31, 2023 (see Note 11).
(B)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $3,520 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

1,652,970

–

1,652,970

Affiliated Partnership

–

3,520

–

3,520

Cash Equivalent

4,590

–

4,590

Total Investments in Securities

1,657,560

3,520

–

1,661,080

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

272

–

272

Unrealized Depreciation

(31

)

–

(31

)

Total Other Financial Instruments

241

–

241

*	Futures contracts are valued at the unrealized appreciation/(depreciation) on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† — 99.1%

Communication Services — 8.7%
Activision Blizzard Inc *		88,600	$	7,106
Alphabet Inc, Cl A *		742,020		91,172
Alphabet Inc, Cl C *		646,760		79,791
AT&T Inc		887,491		13,960
Charter Communications Inc, Cl A *		13,100		4,273
Comcast Corp, Cl A		523,848		20,613
DISH Network Corp, Cl A *		33,268		214
Electronic Arts Inc		32,500		4,160
Fox Corp		54,657		1,670
Interpublic Group of Cos Inc/The		48,800		1,815
Live Nation Entertainment Inc *		17,900		1,431
Match Group Inc *		34,900		1,204
Meta Platforms Inc, Cl A *		277,278		73,401
Netflix Inc *		55,479		21,927
News Corp		14,300		264
News Corp, Cl A		47,383		868
Omnicom Group Inc		25,200		2,222
Paramount Global, Cl B (A)		63,081		960
Take-Two Interactive Software Inc *		19,800		2,727
T-Mobile US Inc *		73,700		10,115
Verizon Communications Inc		523,052		18,636
Walt Disney Co/The *		227,519		20,013
Warner Bros Discovery Inc *		275,546		3,108

				381,650
Consumer Discretionary — 10.1%
Advance Auto Parts Inc		7,400		539
Amazon.com Inc *		1,110,600		133,916
Aptiv PLC *		33,700		2,968
AutoZone Inc *		2,345		5,597
Bath & Body Works Inc		28,600		1,008
Best Buy Co Inc		24,387		1,772
Booking Holdings Inc *		4,784		12,002
BorgWarner Inc		29,300		1,299
Caesars Entertainment Inc *		26,900		1,103


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
CarMax Inc *		19,800	$	1,430
Carnival Corp, Cl A *		125,600		1,411
Chipotle Mexican Grill Inc, Cl A *		3,420		7,102
Darden Restaurants Inc		15,095		2,393
Domino's Pizza Inc		4,400		1,275
DR Horton Inc		38,991		4,166
eBay Inc		67,383		2,866
Etsy Inc *		15,800		1,281
Expedia Group Inc *		18,595		1,780
Ford Motor Co		488,743		5,865
Garmin Ltd		18,995		1,959
General Motors Co		174,187		5,645
Genuine Parts Co		17,500		2,606
Hasbro Inc		16,095		955
Hilton Worldwide Holdings Inc		33,300		4,533
Home Depot Inc/The		126,987		35,994
Las Vegas Sands Corp *		41,100		2,266
Lennar Corp, Cl A		31,591		3,384
LKQ Corp		31,900		1,683
Lowe's Cos Inc		75,287		15,143
Marriott International Inc/MD, Cl A		33,436		5,610
McDonald's Corp		91,187		25,998
MGM Resorts International *		39,500		1,552
Mohawk Industries Inc *		6,700		617
Newell Brands Inc		46,490		386
NIKE Inc, Cl B		155,082		16,324
Norwegian Cruise Line Holdings Ltd *		52,100		774
NVR Inc *		380		2,111
O'Reilly Automotive Inc *		7,800		7,046
Pool Corp		4,900		1,550
PulteGroup Inc		27,983		1,849
Ralph Lauren Corp, Cl A		5,195		552
Ross Stores Inc		43,000		4,456
Royal Caribbean Cruises Ltd *		27,200		2,202
Starbucks Corp		143,082		13,971
Tapestry Inc		29,491		1,180
Tesla Inc *		335,000		68,317
TJX Cos Inc/The		143,882		11,049
Tractor Supply Co		13,800		2,892
Ulta Beauty Inc *		6,300		2,582
VF Corp		40,791		702
Whirlpool Corp		6,800		879
Wynn Resorts Ltd		12,900		1,273
Yum! Brands Inc		35,000		4,504

				442,317
Consumer Staples — 6.8%
Altria Group Inc		222,283		9,874
Archer-Daniels-Midland Co		68,291		4,825
Brown-Forman Corp, Cl B		22,990		1,420
Bunge Ltd		18,800		1,742
Campbell Soup Co		25,091		1,268
Church & Dwight Co Inc		30,400		2,811


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Clorox Co/The		15,400	$	2,436
Coca-Cola Co/The		484,757		28,921
Colgate-Palmolive Co		103,891		7,727
Conagra Brands Inc		59,087		2,060
Constellation Brands Inc, Cl A		20,300		4,932
Costco Wholesale Corp		55,300		28,289
Dollar General Corp		27,800		5,590
Dollar Tree Inc *		25,969		3,503
Estee Lauder Cos Inc/The, Cl A		28,900		5,318
General Mills Inc		73,596		6,194
Hershey Co/The		18,300		4,753
Hormel Foods Corp		36,392		1,392
J M Smucker Co/The		13,395		1,964
Kellogg Co		31,800		2,123
Keurig Dr Pepper Inc		106,000		3,299
Kimberly-Clark Corp		41,996		5,639
Kraft Heinz Co/The		99,391		3,799
Kroger Co/The		81,282		3,685
Lamb Weston Holdings Inc		17,800		1,979
McCormick & Co Inc/MD		31,290		2,683
Molson Coors Beverage Co, Cl B		23,595		1,459
Mondelez International Inc, Cl A		169,778		12,463
Monster Beverage Corp *		95,162		5,578
PepsiCo Inc		171,578		31,287
Philip Morris International Inc		193,078		17,379
Procter & Gamble Co/The		293,867		41,876
Sysco Corp		63,400		4,435
Target Corp		57,291		7,501
Tyson Foods Inc, Cl A		35,887		1,817
Walgreens Boots Alliance Inc		88,887		2,700
Walmart Inc		174,683		25,656

				300,377
Energy — 4.1%
APA Corp		40,300		1,281
Baker Hughes Co, Cl A		125,500		3,420
Chevron Corp		221,601		33,378
ConocoPhillips		152,341		15,127
Coterra Energy Inc, Cl A		98,187		2,283
Devon Energy Corp		81,600		3,762
Diamondback Energy Inc		22,900		2,912
EOG Resources Inc		73,091		7,842
EQT Corp		46,100		1,603
Exxon Mobil Corp		513,000		52,418
Halliburton Co		112,791		3,232
Hess Corp		34,700		4,395
Kinder Morgan Inc		246,983		3,979
Marathon Oil Corp		79,800		1,768
Marathon Petroleum Corp		56,711		5,950
Occidental Petroleum Corp		90,724		5,231
ONEOK Inc		55,691		3,155
Phillips 66		58,196		5,331
Pioneer Natural Resources Co		29,596		5,903


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Schlumberger		176,766	$	7,571
Targa Resources Corp		28,100		1,912
Valero Energy Corp		48,000		5,138
Williams Cos Inc/The		152,096		4,359

				181,950
Financials — 12.4%
Aflac Inc		69,882		4,487
Allstate Corp/The		32,800		3,557
American Express Co		74,087		11,747
American International Group Inc		92,778		4,901
Ameriprise Financial Inc		13,100		3,910
Aon PLC, Cl A		25,600		7,892
Arch Capital Group Ltd *		46,100		3,213
Arthur J Gallagher & Co		26,500		5,309
Assurant Inc		6,495		779
Bank of America Corp		869,283		24,157
Bank of New York Mellon Corp/The		91,787		3,690
Berkshire Hathaway Inc, Cl B *		224,428		72,059
BlackRock Inc, Cl A		18,596		12,228
Brown & Brown Inc		29,100		1,814
Capital One Financial Corp		47,596		4,960
Cboe Global Markets Inc		13,300		1,761
Charles Schwab Corp/The		189,891		10,005
Chubb Ltd		51,647		9,596
Cincinnati Financial Corp		19,496		1,881
Citigroup Inc		241,157		10,688
Citizens Financial Group Inc		61,900		1,596
CME Group Inc, Cl A		44,895		8,025
Comerica Inc		16,191		584
Discover Financial Services		33,300		3,421
Everest Re Group Ltd		5,000		1,700
Eversource Energy		43,400		3,005
FactSet Research Systems Inc		4,800		1,847
Fidelity National Information Services Inc		74,100		4,044
Fifth Third Bancorp		84,800		2,058
Fiserv Inc *		79,000		8,863
FleetCor Technologies Inc *		9,200		2,084
Franklin Resources Inc		35,295		847
Global Payments Inc		32,772		3,202
Globe Life Inc		11,346		1,171
Goldman Sachs Group Inc/The		42,191		13,666
Hartford Financial Services Group Inc/The		39,500		2,707
Huntington Bancshares Inc/OH		181,361		1,870
Intercontinental Exchange Inc		69,500		7,364
Invesco Ltd		56,300		810
Jack Henry & Associates Inc		9,200		1,407
JPMorgan Chase & Co		365,357		49,583
KeyCorp		116,800		1,091
Lincoln National Corp		19,000		397
Loews Corp		24,487		1,371
M&T Bank Corp		20,993		2,502
MarketAxess Holdings Inc		4,700		1,280


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Marsh & McLennan Cos Inc		61,591	$	10,666
Mastercard Inc, Cl A		105,047		38,344
MetLife Inc		82,287		4,077
Moody's Corp		19,600		6,211
Morgan Stanley		162,653		13,299
MSCI Inc, Cl A		9,900		4,658
Nasdaq Inc		42,200		2,336
Northern Trust Corp		26,196		1,884
PayPal Holdings Inc *		140,783		8,727
PNC Financial Services Group Inc/The		50,091		5,802
Principal Financial Group Inc		28,591		1,872
Progressive Corp/The		72,783		9,310
Prudential Financial Inc		45,900		3,612
Raymond James Financial Inc		24,100		2,177
Regions Financial Corp		115,900		2,002
S&P Global Inc		40,953		15,047
State Street Corp		43,500		2,959
Synchrony Financial		54,921		1,700
T Rowe Price Group Inc		28,000		3,000
Travelers Cos Inc/The		28,696		4,857
Truist Financial Corp		165,692		5,049
US Bancorp		174,083		5,205
Visa Inc, Cl A		202,370		44,730
W R Berkley Corp		25,600		1,425
Wells Fargo & Co		474,548		18,892
Willis Towers Watson PLC		13,345		2,921
Zions Bancorp NA (A)		19,100		521

				546,412
Health Care — 13.6%
Abbott Laboratories		217,148		22,149
AbbVie Inc		220,313		30,394
Agilent Technologies Inc		36,991		4,279
Align Technology Inc *		9,100		2,572
AmerisourceBergen Corp		20,196		3,436
Amgen		66,491		14,671
Baxter International Inc		62,629		2,550
Becton Dickinson		35,439		8,568
Biogen Inc *		18,000		5,335
Bio-Rad Laboratories Inc, Cl A *		2,700		1,008
Bio-Techne Corp		19,800		1,620
Boston Scientific Corp *		178,300		9,179
Bristol-Myers Squibb Co		264,770		17,062
Cardinal Health Inc		31,996		2,633
Catalent Inc *		22,300		830
Centene Corp *		68,764		4,292
Charles River Laboratories International Inc *		6,300		1,218
Cigna Group		37,207		9,205
Cooper Cos Inc/The		6,100		2,266
CVS Health Corp		159,857		10,875
Danaher Corp		81,600		18,737
DaVita Inc *		6,995		655


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
DENTSPLY SIRONA Inc		26,691	$	964
Dexcom Inc *		48,100		5,640
Edwards Lifesciences Corp *		76,900		6,477
Elevance Health Inc		29,696		13,299
Eli Lilly & Co		98,245		42,192
GE HealthCare Technologies Inc		45,262		3,599
Gilead Sciences Inc		155,278		11,947
HCA Healthcare Inc		26,395		6,973
Henry Schein Inc *		17,000		1,256
Hologic Inc *		30,900		2,438
Humana Inc		15,596		7,827
IDEXX Laboratories Inc *		10,300		4,787
Illumina Inc *		19,600		3,854
Incyte Corp *		23,200		1,428
Insulet Corp *		8,700		2,386
Intuitive Surgical Inc *		43,600		13,422
IQVIA Holdings Inc *		23,200		4,568
Johnson & Johnson		325,670		50,498
Laboratory Corp of America Holdings		11,100		2,359
McKesson Corp		17,060		6,668
Medtronic PLC		165,661		13,710
Merck & Co Inc		315,770		34,864
Mettler-Toledo International Inc *		2,700		3,569
Moderna Inc *		41,100		5,249
Molina Healthcare Inc *		7,300		2,000
Organon & Co		32,547		631
Pfizer Inc		699,135		26,581
Quest Diagnostics Inc		13,800		1,831
Regeneron Pharmaceuticals Inc *		13,400		9,857
ResMed Inc		18,300		3,858
Revvity Inc		15,700		1,811
STERIS PLC		12,400		2,480
Stryker Corp		41,996		11,573
Teleflex Inc		5,900		1,385
Thermo Fisher Scientific Inc		48,891		24,859
UnitedHealth Group Inc		116,387		56,708
Universal Health Services Inc, Cl B		8,000		1,057
Vertex Pharmaceuticals Inc *		32,000		10,354
Viatris Inc		152,205		1,393
Waters Corp *		7,400		1,859
West Pharmaceutical Services Inc		9,200		3,079
Zimmer Biomet Holdings Inc		26,195		3,336
Zoetis Inc, Cl A		58,000		9,455

				597,615
Industrials — 8.2%
3M Co		68,506		6,392
A O Smith Corp		15,900		1,017
Alaska Air Group Inc *		15,700		705
Allegion plc		10,996		1,152
American Airlines Group Inc *		81,491		1,204
AMETEK Inc		28,700		4,163
Automatic Data Processing Inc		51,591		10,782


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Axon Enterprise Inc *		8,400	$	1,620
Boeing Co/The *		69,991		14,397
Broadridge Financial Solutions Inc		14,600		2,142
Carrier Global Corp		104,185		4,261
Caterpillar Inc		64,791		13,331
Ceridian HCM Holding Inc *		19,300		1,194
CH Robinson Worldwide Inc		14,795		1,399
Cintas Corp		10,795		5,097
Copart Inc *		53,500		4,686
CoStar Group Inc *		50,800		4,034
CSX Corp		261,634		8,024
Cummins Inc		17,596		3,597
Deere & Co		33,696		11,658
Delta Air Lines Inc *		79,687		2,895
Dover Corp		17,400		2,320
Eaton Corp PLC		49,495		8,706
Emerson Electric Co		71,291		5,538
Equifax Inc		15,295		3,191
Expeditors International of Washington Inc		19,791		2,183
Fastenal Co		71,282		3,839
FedEx Corp		28,900		6,300
Fortive Corp		43,825		2,853
Generac Holdings Inc *		7,900		860
General Dynamics Corp		27,996		5,716
General Electric Co		135,586		13,766
Honeywell International Inc		83,187		15,939
Howmet Aerospace Inc		46,266		1,978
Huntington Ingalls Industries Inc		4,900		987
IDEX Corp		9,400		1,872
Illinois Tool Works Inc		34,595		7,567
Ingersoll Rand Inc		50,327		2,852
Jacobs Solutions Inc		15,896		1,742
JB Hunt Transport Services Inc		10,400		1,736
Johnson Controls International plc		85,846		5,125
L3Harris Technologies Inc		23,760		4,180
Leidos Holdings Inc		17,200		1,343
Lockheed Martin Corp		28,256		12,546
Masco Corp		28,300		1,367
Nordson Corp		6,700		1,460
Norfolk Southern Corp		28,296		5,891
Northrop Grumman Corp		17,896		7,794
Old Dominion Freight Line Inc		11,300		3,508
Otis Worldwide Corp		51,792		4,118
PACCAR Inc		65,150		4,481
Parker-Hannifin Corp		16,000		5,127
Paychex Inc		40,087		4,206
Paycom Software Inc		6,000		1,681
Pentair PLC		20,500		1,137
Quanta Services Inc		17,800		3,161
Raytheon Technologies Corp		182,408		16,807
Republic Services Inc, Cl A		25,600		3,626
Robert Half International Inc		13,495		877


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Rockwell Automation Inc		14,296	$	3,983
Rollins Inc		28,900		1,136
Snap-on Inc		6,600		1,642
Southwest Airlines Co		73,787		2,204
Stanley Black & Decker Inc		18,595		1,394
Textron Inc		26,191		1,620
Trane Technologies PLC		28,596		4,668
TransDigm Group Inc *		6,500		5,029
Union Pacific Corp		76,187		14,668
United Airlines Holdings Inc *		40,500		1,922
United Parcel Service Inc, Cl B		90,887		15,178
United Rentals Inc		8,600		2,871
Verisk Analytics Inc, Cl A		19,500		4,273
Waste Management Inc		46,200		7,481
Westinghouse Air Brake Technologies Corp		22,553		2,089
WW Grainger Inc		5,600		3,634
Xylem Inc/NY		29,800		2,986

				358,908
Information Technology — 27.8%
Accenture PLC, Cl A		78,396		23,983
Adobe Inc *		56,995		23,812
Advanced Micro Devices Inc *		200,789		23,735
Akamai Technologies Inc *		19,496		1,796
Amphenol Corp, Cl A		74,282		5,605
Analog Devices Inc		63,055		11,204
ANSYS Inc *		10,900		3,527
Apple Inc		1,852,884		328,424
Applied Materials Inc		105,000		13,997
Arista Networks Inc *		30,900		5,140
Autodesk Inc *		26,800		5,344
Broadcom Inc		52,059		42,062
Cadence Design Systems Inc *		34,100		7,874
CDW Corp/DE		16,800		2,884
Cisco Systems Inc		511,643		25,413
Cognizant Technology Solutions Corp, Cl A		63,595		3,974
Corning Inc		94,570		2,914
DXC Technology Co *		28,352		710
Enphase Energy Inc *		16,900		2,939
EPAM Systems Inc *		7,200		1,848
F5 Inc *		7,500		1,107
Fair Isaac Corp *		3,100		2,442
First Solar Inc *		12,400		2,517
Fortinet Inc *		80,700		5,514
Gartner Inc *		9,800		3,360
Gen Digital Inc		71,200		1,249
Hewlett Packard Enterprise Co		159,174		2,295
HP Inc		107,774		3,132
Intel Corp		515,152		16,196
International Business Machines Corp		112,551		14,473
Intuit Inc		35,000		14,669
Juniper Networks Inc		40,600		1,233
Keysight Technologies Inc *		22,200		3,592


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
KLA Corp		17,200	$	7,619
Lam Research Corp		16,795		10,357
Microchip Technology Inc		68,392		5,147
Micron Technology Inc		135,800		9,262
Microsoft Corp		927,404		304,550
Monolithic Power Systems Inc		5,600		2,743
Motorola Solutions Inc		20,888		5,889
NetApp Inc		27,091		1,797
NVIDIA Corp		306,432		115,935
NXP Semiconductors NV		32,300		5,785
ON Semiconductor Corp *		53,900		4,506
Oracle Corp		191,365		20,273
PTC Inc *		13,200		1,774
Qorvo Inc *		12,500		1,216
QUALCOMM Inc		138,878		15,750
Roper Technologies Inc		13,200		5,996
Salesforce Inc *		124,591		27,831
Seagate Technology Holdings PLC		24,100		1,448
ServiceNow Inc *		25,300		13,783
Skyworks Solutions Inc		19,696		2,039
SolarEdge Technologies Inc *		7,000		1,994
Synopsys Inc *		19,000		8,644
TE Connectivity Ltd		39,491		4,837
Teledyne Technologies Inc *		5,851		2,274
Teradyne Inc		19,300		1,934
Texas Instruments Inc		112,883		19,628
Trimble Inc *		31,000		1,447
Tyler Technologies Inc *		5,200		2,064
VeriSign Inc *		11,400		2,546
Western Digital Corp *		40,031		1,550
Zebra Technologies Corp, Cl A *		6,400		1,680

				1,221,262
Materials — 2.4%
Air Products and Chemicals Inc		27,600		7,428
Albemarle Corp		14,600		2,826
Amcor PLC		186,862		1,801
Avery Dennison Corp		10,000		1,611
Ball Corp		38,992		1,995
Celanese Corp, Cl A		12,500		1,300
CF Industries Holdings Inc		24,700		1,519
Corteva Inc		89,031		4,762
Dow Inc		88,065		4,296
DuPont de Nemours Inc		57,182		3,842
Eastman Chemical Co		14,896		1,148
Ecolab Inc		30,915		5,103
FMC Corp		15,800		1,644
Freeport-McMoRan Inc, Cl B		178,400		6,126
International Flavors & Fragrances Inc		31,955		2,470
International Paper Co		44,696		1,316
Linde		61,360		21,701
LyondellBasell Industries NV, Cl A		31,656		2,708
Martin Marietta Materials Inc		7,700		3,065


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Mosaic Co/The		42,791	$	1,368
Newmont Corp		99,083		4,018
Nucor Corp		31,587		4,171
Packaging Corp of America		11,600		1,439
PPG Industries Inc		29,300		3,847
Sealed Air Corp		17,900		678
Sherwin-Williams Co/The		29,300		6,674
Steel Dynamics Inc		20,700		1,902
Vulcan Materials Co		16,600		3,245
Westrock Co		31,582		885

				104,888
Real Estate — 2.4%
Alexandria Real Estate Equities Inc ^‡		19,700		2,235
American Tower Corp, Cl A ^‡		58,000		10,698
AvalonBay Communities Inc ^‡		17,400		3,027
Boston Properties Inc ^‡		17,700		861
Camden Property Trust ^‡		13,800		1,442
CBRE Group Inc, Cl A *		39,291		2,944
Crown Castle Inc ^‡		54,096		6,124
Digital Realty Trust Inc ^‡		35,700		3,658
Equinix Inc ^‡		11,557		8,616
Equity Residential ^‡		42,296		2,572
Essex Property Trust Inc ^‡		8,100		1,750
Extra Space Storage Inc ^‡		16,700		2,409
Federal Realty Investment Trust ^‡		9,100		803
Healthpeak Properties Inc ^‡		68,700		1,371
Host Hotels & Resorts Inc ^‡		89,774		1,490
Invitation Homes Inc ^‡		72,400		2,453
Iron Mountain Inc ^‡		36,101		1,928
Kimco Realty Corp ^‡		77,687		1,428
Mid-America Apartment Communities Inc ^‡		14,500		2,132
Prologis Inc ^‡		114,959		14,318
Public Storage ^‡		19,695		5,580
Realty Income Corp ^‡		78,300		4,654
Regency Centers Corp ^‡		19,300		1,086
SBA Communications Corp, Cl A ^‡		13,500		2,994
Simon Property Group Inc ^‡		40,796		4,290
UDR Inc ^‡		38,900		1,543
Ventas Inc ^‡		49,600		2,140
VICI Properties Inc, Cl A ^‡		125,300		3,876
Welltower Inc ^‡		59,000		4,402
Weyerhaeuser Co ^‡		91,745		2,629

				105,453
Utilities — 2.6%
AES Corp/The		84,000		1,658
Alliant Energy Corp		31,600		1,626
Ameren Corp		32,091		2,602
American Electric Power Co Inc		64,200		5,336
American Water Works Co Inc		24,100		3,481
Atmos Energy Corp		17,800		2,052
CenterPoint Energy Inc		78,083		2,203


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
CMS Energy Corp		36,091	$	2,093
Consolidated Edison Inc		44,300		4,133
Constellation Energy Corp		40,763		3,425
Dominion Energy Inc		104,085		5,233
DTE Energy Co		24,300		2,615
Duke Energy Corp		95,791		8,553
Edison International		47,596		3,214
Entergy Corp		25,500		2,504
Evergy Inc		28,900		1,672
Exelon Corp		124,091		4,920
FirstEnergy Corp		67,987		2,542
NextEra Energy Inc		247,500		18,181
NiSource Inc		50,987		1,371
NRG Energy Inc		28,587		966
PG&E Corp *		200,800		3,402
Pinnacle West Capital Corp		14,000		1,082
PPL Corp		92,200		2,416
Public Service Enterprise Group Inc		62,300		3,722
Sempra Energy		39,095		5,611
Southern Co/The		135,500		9,451
WEC Energy Group Inc		39,331		3,436
Xcel Energy Inc		68,383		4,465

				113,965
Total Common Stock
(Cost $1,893,055) ($ Thousands)				4,354,797



AFFILIATED PARTNERSHIP — 0.0%
SEI Liquidity Fund, LP
5.010% **^†(B)		724,961		715


Total Affiliated Partnership
(Cost $723) ($ Thousands)				715



CASH EQUIVALENT — 0.6%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		25,388,792		25,389

Total Cash Equivalent
(Cost $25,389) ($ Thousands)				25,389


Total Investments in Securities — 99.7%
(Cost $1,919,167) ($ Thousands)			$	4,380,901

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $4,393,830 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^‡	Real Estate Investment Trust.
^†	Investment in Affiliated Security (see Note 6).
^†^†	Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.
(A)	Certain securities or partial positions of certain securities are on loan at May 31, 2023 (see Note 11).
(B)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $715 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

4,354,797

–

4,354,797

Affiliated Partnership

–

715

–

715

Cash Equivalent

25,389

–

25,389

Total Investments in Securities

4,380,186

715

–

4,380,901

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

1,997

–

1,997

Total Other Financial Instruments

1,997

–

1,997

*	Futures contracts are valued at the unrealized appreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 99.6%

Communication Services — 4.0%
Advantage Solutions Inc *		18,900	$	36
Altice USA Inc, Cl A *		47,675		122
AMC Entertainment Holdings Inc, Cl A *(A)		114,094		513
AMC Networks Inc, Cl A *		6,660		75
Anterix Inc *		4,000		131
ATN International Inc		2,267		85
Bandwidth Inc, Cl A *		5,000		59
Boston Omaha Corp, Cl A *		4,300		82
Bumble Inc, Cl A *		18,100		277
Cable One Inc		1,200		734
Cardlytics Inc *		7,100		37
Cargurus Inc, Cl A *		20,500		385
Cars.com Inc *		15,200		268
Charge Enterprises Inc *		27,400		25
Cinemark Holdings Inc *		24,640		394
Clear Channel Outdoor Holdings Inc, Cl A *		88,200		108
Cogent Communications Holdings Inc		9,404		579
Consolidated Communications Holdings Inc *		16,612		61
Daily Journal Corp *		300		88
DHI Group Inc *		9,600		35
EchoStar Corp, Cl A *		8,903		140
Entravision Communications Corp, Cl A		14,200		59
Eventbrite Inc, Cl A *		16,900		123
EverQuote Inc, Cl A *		4,400		40
EW Scripps Co/The, Cl A *		13,896		109
Frontier Communications Parent Inc *		48,500		722
fuboTV Inc *(A)		30,800		48
Gannett Co Inc *		32,687		73
GCI Liberty - Escrow		23,647		—
Globalstar Inc *		146,200		167
Gogo Inc *		8,900		134
Gray Television Inc		19,500		137


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
IAC Inc *		16,676	$	931
IDT Corp, Cl B *		4,100		125
iHeartMedia Inc, Cl A *		24,700		59
IMAX Corp *		11,800		205
Innovid Corp *		16,800		21
Integral Ad Science Holding Corp *		7,600		144
Iridium Communications Inc		26,446		1,588
John Wiley & Sons Inc, Cl A		7,772		280
Liberty Broadband Corp, Cl A *		2,983		220
Liberty Broadband Corp, Cl C *		24,614		1,824
Liberty Latin America Ltd, Cl A *		8,300		61
Liberty Latin America Ltd, Cl C *		25,062		183
Liberty Media Corp-Liberty Braves, Cl A *		1,803		67
Liberty Media Corp-Liberty Braves, Cl C *		7,665		281
Liberty Media Corp-Liberty Formula One, Cl A *		4,108		259
Liberty Media Corp-Liberty Formula One, Cl C *		42,142		2,967
Liberty Media Corp-Liberty SiriusXM, Cl A *		16,635		465
Liberty Media Corp-Liberty SiriusXM, Cl C *		32,122		898
Lions Gate Entertainment Corp, Cl A *		14,516		149
Lions Gate Entertainment Corp, Cl B *		21,575		209
Lumen Technologies Inc		212,700		421
Madison Square Garden Entertainment Corp *		4,611		162
Madison Square Garden Sports Corp, Cl A		3,779		668
Magnite Inc *		23,038		274
Marcus Corp/The		5,161		79
MediaAlpha Inc, Cl A *		4,200		37
New York Times Co/The, Cl A		33,182		1,175
Nexstar Media Group Inc, Cl A		7,844		1,184
Ooma Inc *		6,900		92
Outbrain Inc *		5,800		27
Pinterest Inc, Cl A *		121,211		2,902
Playstudios Inc *		21,200		96
Playtika Holding Corp *		14,225		143
PubMatic Inc, Cl A *		10,400		183
QuinStreet Inc *		11,286		104
Quotient Technology Inc *		21,000		57
Radius Global Infrastructure Inc, Cl A *		16,500		244
Reservoir Media Inc *		4,100		27
ROBLOX Corp, Cl A *		93,800		3,926
Roku Inc, Cl A *		24,248		1,411
Scholastic Corp		6,567		279
Shenandoah Telecommunications Co		10,404		197
Shutterstock Inc		5,297		264
Sinclair Broadcast Group Inc, Cl A (A)		10,311		159
Sirius XM Holdings Inc (A)		144,081		513
Skillz Inc, Cl A *(A)		69,300		32
Sphere Entertainment Co *		4,611		110
Spotify Technology SA *		29,303		4,363
Stagwell Inc, Cl A *		13,400		83


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
TechTarget Inc *		6,100	$	212
TEGNA Inc		45,300		702
Telephone and Data Systems Inc		23,055		154
Thryv Holdings Inc *		6,500		151
Trade Desk Inc/The, Cl A *		89,900		6,300
TripAdvisor Inc *		22,500		350
TrueCar Inc *		22,900		52
United States Cellular Corp *		2,952		42
Vimeo Inc *		34,746		127
Vinco Ventures Inc *		1,115		2
Vivid Seats Inc, Cl A *		5,600		41
WideOpenWest Inc *		11,700		89
World Wrestling Entertainment Inc, Cl A		9,134		925
Yelp Inc, Cl A *		14,298		479
Ziff Davis Inc *		9,257		547
ZipRecruiter Inc, Cl A *		15,100		234
ZoomInfo Technologies Inc, Cl A *		58,500		1,447

				47,848
Consumer Discretionary — 11.3%
1-800-Flowers.com Inc, Cl A *		5,400		44
1stdibs.com Inc *		1,400		5
2U Inc *		15,900		64
Aaron's Co Inc/The		6,958		85
Abercrombie & Fitch Co, Cl A *		9,300		289
Academy Sports & Outdoors Inc		14,800		725
Accel Entertainment Inc, Cl A *		14,200		132
Acushnet Holdings Corp		5,900		264
Adient PLC *		19,900		670
ADT Inc		42,561		242
Adtalem Global Education Inc *		8,781		364
Airbnb Inc, Cl A *		77,100		8,463
aka Brands Holding Corp *		2,100		1
Allbirds Inc, Cl A *		12,300		15
American Axle & Manufacturing Holdings Inc *		26,198		177
American Eagle Outfitters Inc		28,722		292
American Public Education Inc *		5,227		26
America's Car-Mart Inc/TX *		1,250		102
AMMO Inc *(A)		17,700		31
Aramark		47,700		1,883
Arko Corp		14,200		103
Asbury Automotive Group Inc *		4,398		920
Aterian Inc *		4,200		2
AutoNation Inc *		7,100		930
Bally's Corp *		8,028		109
BARK Inc *		26,200		27
Beazer Homes USA Inc *		7,161		145
Big 5 Sporting Goods Corp (A)		5,600		42
Big Lots Inc (A)		7,446		37
Biglari Holdings Inc, Cl B *		182		38
BJ's Restaurants Inc *		4,642		138
Bloomin' Brands Inc		16,050		383


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Bluegreen Vacations Holding Corp, Cl A		1,900	$	54
Boot Barn Holdings Inc *		5,400		365
Bowlero Corp *		5,900		68
Boyd Gaming Corp		16,045		1,023
Bright Horizons Family Solutions Inc *		11,435		979
Brinker International Inc *		7,782		285
Brunswick Corp/DE		14,683		1,109
Buckle Inc/The		6,651		204
Build-A-Bear Workshop Inc, Cl A		3,200		58
Burlington Stores Inc *		13,700		2,061
Caleres Inc		8,576		148
Camping World Holdings Inc, Cl A (A)		9,200		248
Canoo Inc *(A)		23,900		13
Capri Holdings Ltd *		25,200		885
CarParts.com Inc *		10,300		43
Carriage Services Inc, Cl A		3,506		92
Carter's Inc		6,970		433
Carvana Co, Cl A *(A)		23,800		307
Cato Corp/The, Cl A		4,596		37
Cavco Industries Inc *		1,831		456
Cenntro Electric Group Ltd *(A)		21,400		6
Century Casinos Inc *		6,200		42
Century Communities Inc		5,600		356
Cheesecake Factory Inc/The		10,323		323
Chegg Inc *		26,010		234
Chico's FAS Inc *		27,051		123
Children's Place Inc/The *		3,433		52
Choice Hotels International Inc		6,977		792
Churchill Downs Inc		14,862		2,019
Chuy's Holdings Inc *		2,569		95
Citi Trends Inc *		1,797		26
Clarus Corp		6,221		51
Columbia Sportswear Co		7,544		557
Conn's Inc *		3,909		16
Container Store Group Inc/The *		7,800		19
ContextLogic Inc, Cl A *(A)		4,577		32
Coursera Inc *		26,400		334
Cracker Barrel Old Country Store Inc (A)		4,744		465
Crocs Inc *		12,203		1,370
Dana Inc		26,098		336
Dave & Buster's Entertainment Inc *		8,800		283
Deckers Outdoor Corp *		5,404		2,567
Denny's Corp *		14,463		160
Designer Brands Inc, Cl A		13,992		88
Destination XL Group Inc *		13,400		56
Dick's Sporting Goods Inc (A)		10,635		1,356
Dillard's Inc, Cl A		662		182
Dine Brands Global Inc		2,572		154
DoorDash Inc, Cl A *		52,200		3,408
Dorman Products Inc *		5,240		430
DraftKings Inc, Cl A *		71,482		1,668
Dream Finders Homes Inc, Cl A *(A)		4,700		87


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Duluth Holdings Inc, Cl B *		2,900	$	16
Duolingo Inc, Cl A *		4,600		688
El Pollo Loco Holdings Inc		3,900		36
Ermenegildo Zegna NV (A)		12,500		142
Ethan Allen Interiors Inc		5,276		132
European Wax Center Inc, Cl A *		3,200		55
Everi Holdings Inc *		18,900		263
EVgo Inc, Cl A *(A)		17,700		70
F45 Training Holdings Inc *		4,400		4
Faraday Future Intelligent Electric Inc *		23,800		6
First Watch Restaurant Group Inc *		2,400		42
Fisker Inc *(A)		37,200		234
Five Below Inc *		11,405		1,968
Floor & Decor Holdings Inc, Cl A *		21,600		1,972
Foot Locker Inc		15,400		390
Fossil Group Inc *		10,700		22
Fox Factory Holding Corp *		8,600		765
Franchise Group Inc		3,900		113
Frontdoor Inc *		15,450		476
Full House Resorts Inc *		7,000		50
Funko Inc, Cl A *		6,000		73
GameStop Corp, Cl A *(A)		56,000		1,347
Gap Inc/The		37,500		301
Genesco Inc *		2,169		39
Gentex Corp		48,690		1,279
Gentherm Inc *		6,148		338
G-III Apparel Group Ltd *		10,906		175
Golden Entertainment Inc *		4,131		174
Goodyear Tire & Rubber Co/The *		59,468		816
GoPro Inc, Cl A *		29,300		123
Graham Holdings Co, Cl B		800		452
Grand Canyon Education Inc *		6,515		683
Green Brick Partners Inc *		6,200		297
Group 1 Automotive Inc		2,935		656
Groupon Inc, Cl A *(A)		5,457		29
GrowGeneration Corp *		12,100		45
Guess? Inc (A)		5,117		98
H&R Block Inc		29,900		893
Hanesbrands Inc		69,800		287
Harley-Davidson Inc		27,300		849
Haverty Furniture Cos Inc		1,563		41
Helen of Troy Ltd *		5,048		486
Hibbett Inc		2,412		87
Hilton Grand Vacations Inc *		18,070		772
Holley Inc *		13,400		40
Hovnanian Enterprises Inc, Cl A *		1,400		118
Hyatt Hotels Corp, Cl A		9,427		1,013
Inspired Entertainment Inc *		2,000		27
Installed Building Products Inc		4,800		502
International Game Technology PLC		18,700		459
iRobot Corp *		6,202		220
Jack in the Box Inc		4,021		348


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
JOANN Inc		2,500	$	4
Johnson Outdoors Inc, Cl A		1,400		79
KB Home		15,385		667
Kohl's Corp		22,600		414
Kontoor Brands Inc		11,600		454
Krispy Kreme Inc		13,800		206
Kura Sushi USA Inc, Cl A *		800		65
Lands' End Inc *		2,862		18
Landsea Homes Corp *		1,300		9
Latham Group Inc *		7,300		26
Laureate Education Inc, Cl A		23,400		283
La-Z-Boy Inc, Cl Z		9,526		255
LCI Industries		4,949		535
Lear Corp		12,171		1,493
Legacy Housing Corp *		1,400		27
Leggett & Platt Inc		29,000		884
Leslie's Inc *		40,356		383
LGI Homes Inc *		4,200		478
Life Time Group Holdings Inc *		8,300		158
Lifetime Brands Inc		3,300		16
Light & Wonder Inc, Cl A *		19,362		1,129
Lindblad Expeditions Holdings Inc *		6,900		65
Lithia Motors Inc, Cl A		5,433		1,267
LL Flooring Holdings Inc *		6,926		31
Lordstown Motors Corp, Cl A *(A)		2,327		8
Lovesac Co/The *		2,900		61
Lucid Group Inc *(A)		114,400		888
Lululemon Athletica Inc *		23,082		7,662
Lulu's Fashion Lounge Holdings Inc *		1,300		3
Luminar Technologies Inc, Cl A *(A)		55,900		381
M/I Homes Inc *		4,794		339
Macy's Inc		58,900		800
Malibu Boats Inc, Cl A *		4,600		241
Marine Products Corp		1,800		28
MarineMax Inc *		5,161		146
Marriott Vacations Worldwide Corp		7,472		921
MasterCraft Boat Holdings Inc *		2,100		56
Mattel Inc *		73,300		1,276
MDC Holdings Inc		11,768		474
Meritage Homes Corp		7,211		832
Mister Car Wash Inc *		16,500		136
Modine Manufacturing Co *		9,874		269
Monarch Casino & Resort Inc		2,900		188
Monro Inc		6,428		266
Motorcar Parts of America Inc *		3,700		20
Movado Group Inc		3,520		90
Murphy USA Inc		4,100		1,133
National Vision Holdings Inc *		16,300		412
NEOGAMES SA *		2,300		63
Noodles & Co, Cl A *		11,000		37
Nordstrom Inc (A)		24,800		379
ODP Corp/The *		8,612		345


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Ollie's Bargain Outlet Holdings Inc *		13,100	$	722
ONE Group Hospitality Inc/The *		4,200		30
OneSpaWorld Holdings Ltd *		12,400		129
OneWater Marine Inc, Cl A *		2,200		61
Overstock.com Inc *		10,300		193
Oxford Industries Inc		2,654		265
Papa John's International Inc		6,442		452
Patrick Industries Inc		3,825		251
Peloton Interactive Inc, Cl A *		60,535		441
Penn Entertainment Inc *		32,700		819
Penske Automotive Group Inc		5,388		745
Perdoceo Education Corp *		16,254		192
Petco Health & Wellness Co Inc, Cl A *		19,300		147
PetMed Express Inc		4,596		68
Planet Fitness Inc, Cl A *		16,900		1,081
PLBY Group Inc *(A)		7,100		11
Polaris Inc		11,207		1,207
Portillo's Inc, Cl A *		5,000		100
Purple Innovation Inc, Cl A		10,765		37
PVH Corp		13,400		1,153
QuantumScape Corp, Cl A *(A)		55,300		359
Qurate Retail Inc *		83,022		69
RCI Hospitality Holdings Inc		1,400		101
RealReal Inc/The *		17,400		22
Red Rock Resorts Inc, Cl A		10,400		474
Rent the Runway Inc, Cl A *(A)		3,700		7
Revolve Group Inc, Cl A *		8,000		122
RH *		3,711		909
Rivian Automotive Inc, Cl A *		103,900		1,530
Rocky Brands Inc		1,600		31
Rover Group Inc, Cl A *		11,100		52
RumbleON Inc, Cl B *(A)		2,300		25
Rush Street Interactive Inc *		13,600		41
Ruth's Hospitality Group Inc		7,898		169
Sabre Corp *		73,800		229
Sally Beauty Holdings Inc *		19,191		216
SeaWorld Entertainment Inc *		8,600		480
Service Corp International/US		30,189		1,920
Shake Shack Inc, Cl A *		7,700		510
Shoe Carnival Inc		4,152		81
Signet Jewelers Ltd		9,100		578
Six Flags Entertainment Corp *		14,058		359
Skechers USA Inc, Cl A *		27,546		1,415
Skyline Champion Corp *		10,300		599
Sleep Number Corp *		5,009		91
Smith & Wesson Brands Inc		12,383		145
Snap One Holdings Corp *		2,800		25
Solid Power Inc *		28,800		63
Solo Brands Inc, Cl A *		2,600		11
Sonder Holdings Inc *(A)		41,600		30
Sonic Automotive Inc, Cl A		3,464		144
Sonos Inc *		24,300		353


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sportsman's Warehouse Holdings Inc *		9,400	$	43
Standard Motor Products Inc		4,766		168
Steven Madden Ltd		15,251		476
Stitch Fix Inc, Cl A *		17,800		64
Stoneridge Inc *		5,930		97
Strategic Education Inc		4,287		338
Stride Inc *		7,788		315
Sturm Ruger & Co Inc		3,942		203
Superior Group of Cos Inc		2,000		17
Sweetgreen Inc, Cl A *		19,200		183
Target Hospitality Corp *		6,100		86
Taylor Morrison Home Corp, Cl A *		21,960		932
Tempur Sealy International Inc		33,892		1,208
Texas Roadhouse Inc, Cl A		14,266		1,539
Thor Industries Inc		10,290		805
Tile Shop Holdings Inc *		6,300		33
Tilly's Inc, Cl A *		5,243		41
Toll Brothers Inc		22,539		1,526
TopBuild Corp *		6,700		1,351
Topgolf Callaway Brands Corp *		27,706		473
Torrid Holdings Inc *		2,700		6
Traeger Inc *		4,800		18
Travel + Leisure Co		15,500		565
Tri Pointe Homes Inc *		20,373		595
Tupperware Brands Corp *		8,524		8
Udemy Inc *		17,700		177
Under Armour Inc, Cl A *		34,700		250
Under Armour Inc, Cl C *		35,800		236
Unifi Inc *		2,480		18
Universal Electronics Inc *		2,887		23
Universal Technical Institute Inc *		7,300		47
Upbound Group Inc, Cl A		10,240		306
Urban Outfitters Inc *		12,800		394
Vacasa Inc, Cl A *(A)		24,500		19
Vail Resorts Inc		8,312		2,021
Valvoline Inc		36,536		1,407
Victoria's Secret & Co *		16,700		341
Vista Outdoor Inc *		13,073		348
Visteon Corp *		5,465		730
Vizio Holding Corp, Cl A *		17,400		114
Vuzix Corp *(A)		14,200		71
Warby Parker Inc, Cl A *(A)		15,200		167
Wayfair Inc, Cl A *(A)		15,200		613
Wendy's Co/The		36,275		798
Weyco Group Inc		1,200		33
Williams-Sonoma Inc		13,637		1,548
Wingstop Inc		6,100		1,216
Winmark Corp		491		160
Winnebago Industries Inc		5,935		330
Wolverine World Wide Inc		17,896		239
Workhorse Group Inc *(A)		25,800		22
WW International Inc *		12,174		80


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Wyndham Hotels & Resorts Inc		17,600	$	1,201
XPEL Inc *		4,800		331
Xponential Fitness Inc, Cl A *		5,600		148
YETI Holdings Inc *		18,400		673
Zumiez Inc *		4,803		77

				134,706
Consumer Staples — 2.9%
22nd Century Group Inc *(A)		39,100		24
Albertsons Cos Inc, Cl A		48,200		981
Alico Inc		1,400		32
Andersons Inc/The		5,699		222
AppHarvest Inc *(A)		21,800		10
B&G Foods Inc, Cl A (A)		14,611		187
Beauty Health Co/The *		17,700		142
BellRing Brands Inc *		27,702		1,014
Benson Hill Inc *		43,900		52
Beyond Meat Inc *(A)		13,000		132
BJ's Wholesale Club Holdings Inc *		27,700		1,735
Boston Beer Co Inc/The, Cl A *		1,983		669
BRC Inc, Cl A *(A)		5,800		31
Calavo Growers Inc		4,426		143
Cal-Maine Foods Inc		7,828		372
Casey's General Stores Inc		7,759		1,751
Celsius Holdings Inc *		11,100		1,393
Central Garden & Pet Co *		2,600		94
Central Garden & Pet Co, Cl A *		7,529		259
Chefs' Warehouse Inc/The *		7,021		218
Coca-Cola Consolidated Inc		889		588
Coty Inc, Cl A *		68,300		740
Darling Ingredients Inc *		33,857		2,146
Duckhorn Portfolio Inc/The *		8,000		104
Edgewell Personal Care Co		10,545		411
elf Beauty Inc *		10,000		1,040
Energizer Holdings Inc		14,645		477
Flowers Foods Inc		38,708		967
Fresh Del Monte Produce Inc		6,181		163
Freshpet Inc *		9,300		556
Grocery Outlet Holding Corp *		18,100		520
Hain Celestial Group Inc/The *		15,660		191
Herbalife Ltd *		20,144		239
HF Foods Group Inc *		9,900		36
Honest Co Inc/The *		18,200		27
Hostess Brands Inc, Cl A *		25,500		634
Ingles Markets Inc, Cl A		2,645		212
Ingredion Inc		13,265		1,388
Inter Parfums Inc		3,706		466
J & J Snack Foods Corp		3,064		472
John B Sanfilippo & Son Inc		1,819		211
Lancaster Colony Corp		4,229		831
Lifecore Biomedical Inc *		4,693		38
Medifast Inc		2,564		202
MGP Ingredients Inc		2,800		266


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Mission Produce Inc *		9,300	$	114
National Beverage Corp *		5,204		257
Natural Grocers by Vitamin Cottage Inc		1,085		12
Nature's Sunshine Products Inc *		2,937		33
Nu Skin Enterprises Inc, Cl A		11,205		374
Olaplex Holdings Inc *		29,300		93
Performance Food Group Co *		31,227		1,727
Pilgrim's Pride Corp *		10,307		229
Post Holdings Inc *		10,869		923
PriceSmart Inc		5,423		393
Primo Water Corp		32,100		413
Reynolds Consumer Products Inc		9,700		266
Rite Aid Corp *(A)		13,411		24
Seaboard Corp		57		217
Seneca Foods Corp, Cl A *		1,262		58
Simply Good Foods Co/The *		18,800		680
Sovos Brands Inc *		5,900		112
SpartanNash Co		8,136		186
Spectrum Brands Holdings Inc		8,487		613
Sprouts Farmers Market Inc *		22,500		778
SunOpta Inc *		17,100		115
Tattooed Chef Inc *(A)		11,500		6
Thorne HealthTech Inc *		1,500		7
Tootsie Roll Industries Inc		3,832		150
TreeHouse Foods Inc *		10,509		498
Turning Point Brands Inc		3,200		67
United Natural Foods Inc *		12,798		342
Universal Corp/VA		5,545		286
US Foods Holding Corp *		41,100		1,635
USANA Health Sciences Inc *		2,832		172
Utz Brands Inc		13,800		227
Vector Group Ltd		29,091		341
Veru Inc *(A)		14,700		15
Village Super Market Inc, Cl A		1,962		41
Vintage Wine Estates Inc *		7,300		8
Vita Coco Co Inc/The *		6,100		163
Vital Farms Inc *		5,500		80
WD-40 Co		2,786		528
Weis Markets Inc		3,604		215
Whole Earth Brands Inc *		10,300		30

				34,814
Energy — 4.1%
Aemetis Inc *(A)		5,000		24
Amplify Energy Corp *		4,900		33
Antero Midstream Corp		68,200		696
Antero Resources Corp *		57,480		1,173
Arch Resources Inc (A)		3,000		310
Archrock Inc		30,283		273
Ardmore Shipping Corp		7,800		91
Berry Corp		19,400		122
Borr Drilling Ltd *(A)		47,100		323
Bristow Group Inc *		4,997		122


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Cactus Inc, Cl A		12,400	$	392
California Resources Corp		14,000		526
Callon Petroleum Co *		11,100		340
Centrus Energy Corp, Cl A *		2,000		59
ChampionX Corp		40,000		1,010
Cheniere Energy Inc		51,065		7,137
Chesapeake Energy Corp		25,393		1,911
Chord Energy Corp		8,230		1,177
Civitas Resources Inc		15,034		1,004
Clean Energy Fuels Corp *		29,988		121
CNX Resources Corp *		33,800		522
Comstock Resources Inc		21,000		196
CONSOL Energy Inc		7,475		403
Crescent Energy Co, Cl A (A)		6,660		63
CVR Energy Inc		7,097		166
Delek US Holdings Inc		14,390		317
Denbury Inc *		10,100		911
DHT Holdings Inc		27,900		215
Diamond Offshore Drilling Inc *		16,800		184
DMC Global Inc *		5,100		83
Dorian LPG Ltd		6,747		156
Dril-Quip Inc *		7,987		178
DT Midstream Inc		21,100		959
Earthstone Energy Inc, Cl A *		8,200		98
Empire Petroleum Corp *		1,033		10
Energy Fuels Inc/Canada *(A)		36,000		212
Enviva Inc		5,900		52
Equitrans Midstream Corp		82,900		707
Excelerate Energy Inc, Cl A		2,400		45
Expro Group Holdings NV *		15,357		255
FLEX LNG Ltd (A)		5,800		173
Frontline PLC		25,500		360
Gevo Inc *(A)		45,000		58
Golar LNG Ltd		18,702		385
Green Plains Inc *		11,190		324
Gulfport Energy Corp *		2,200		213
Helix Energy Solutions Group Inc *		32,569		205
Helmerich & Payne Inc		19,700		608
HF Sinclair Corp		27,500		1,140
HighPeak Energy Inc (A)		1,100		14
International Seaways Inc		10,128		365
Kinetik Holdings Inc, Cl A		3,900		127
Kosmos Energy Ltd *		93,875		559
Liberty Energy Inc, Cl A		25,900		304
Magnolia Oil & Gas Corp, Cl A		35,200		680
Matador Resources Co		22,600		994
Murphy Oil Corp		29,000		1,009
Nabors Industries Ltd *		1,991		167
NACCO Industries Inc, Cl A		900		28
New Fortress Energy Inc, Cl A		11,000		289
Newpark Resources Inc *		18,020		62
NextDecade Corp *		7,100		39


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
NexTier Oilfield Solutions Inc *		39,539	$	298
Noble Corp PLC *		16,300		615
Nordic American Tankers Ltd		34,377		121
Northern Oil and Gas Inc		12,100		362
NOV Inc		80,400		1,131
Oceaneering International Inc *		20,446		313
Oil States International Inc *		16,699		106
Ovintiv Inc		51,500		1,703
Par Pacific Holdings Inc *		9,986		213
Patterson-UTI Energy Inc		44,522		434
PBF Energy Inc, Cl A		24,377		897
PDC Energy Inc		17,577		1,206
Peabody Energy Corp		24,700		449
Permian Resources Corp, Cl A (A)		51,700		482
ProFrac Holding Corp, Cl A *		3,000		34
ProPetro Holding Corp *		19,200		128
Range Resources Corp		47,200		1,292
Ranger Oil Corp, Cl A		4,700		173
REX American Resources Corp *		3,900		128
Riley Exploration Permian Inc		1,200		40
Ring Energy Inc *		10,000		17
RPC Inc		15,199		101
SandRidge Energy Inc		8,200		110
Scorpio Tankers Inc		9,813		449
Select Water Solutions Inc, Cl A		17,800		129
SFL Corp Ltd		22,476		193
SilverBow Resources Inc *		1,500		36
Sitio Royalties Corp, Cl A (A)		15,221		388
SM Energy Co		25,813		679
Solaris Oilfield Infrastructure Inc, Cl A		5,400		40
Southwestern Energy Co *		220,271		1,051
Talos Energy Inc *		12,200		150
Teekay Corp *		14,800		83
Teekay Tankers Ltd, Cl A		5,100		184
Tellurian Inc *(A)		101,800		123
TETRA Technologies Inc *		34,000		88
Texas Pacific Land Corp		1,200		1,564
Tidewater Inc *		9,800		439
Uranium Energy Corp *(A)		63,200		164
Ur-Energy Inc *		38,700		35
US Silica Holdings Inc *		15,626		177
VAALCO Energy Inc		15,500		60
Valaris Ltd *		12,800		739
Vertex Energy Inc *(A)		13,700		89
Vital Energy Inc *		3,800		158
Vitesse Energy Inc		5,143		119
W&T Offshore Inc *		21,338		83
Weatherford International PLC *		14,600		824
World Fuel Services Corp		12,341		282

				49,358
Financials — 15.6%
1st Source Corp		2,758		113


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ACNB Corp		1,900	$	56
AFC Gamma Inc ^‡		2,800		32
Affiliated Managers Group Inc		7,700		1,071
Affirm Holdings Inc, Cl A *(A)		41,900		623
AGNC Investment Corp ^‡		115,421		1,061
Alerus Financial Corp		3,400		57
Ally Financial Inc		61,400		1,638
Amalgamated Financial Corp		3,000		43
A-Mark Precious Metals Inc		3,800		129
Ambac Financial Group Inc *		7,800		109
Amerant Bancorp Inc, Cl A		5,100		90
American Equity Investment Life Holding Co		13,578		536
American Financial Group Inc/OH		13,853		1,555
American National Bankshares Inc		2,006		58
Ameris Bancorp		13,362		422
AMERISAFE Inc		4,533		231
Angel Oak Mortgage REIT Inc ^‡(A)		1,600		12
Annaly Capital Management Inc ^‡		96,439		1,821
Apollo Commercial Real Estate Finance Inc ^‡		28,819		291
Apollo Global Management Inc		99,084		6,624
Arbor Realty Trust Inc ^‡(A)		36,200		456
Ares Commercial Real Estate Corp ^‡		9,600		88
Ares Management Corp, Cl A		31,445		2,739
Argo Group International Holdings Ltd		6,816		200
ARMOUR Residential REIT Inc ^‡(A)		33,424		168
Arrow Financial Corp		3,252		59
Artisan Partners Asset Management Inc, Cl A		13,300		426
AssetMark Financial Holdings Inc *		3,900		110
Associated Banc-Corp		31,336		464
Associated Capital Group Inc		500		18
Assured Guaranty Ltd		11,887		615
Atlantic Union Bankshares Corp		14,182		362
Atlanticus Holdings Corp *		1,100		38
Avantax Inc *		10,529		223
AvidXchange Holdings Inc *		26,800		260
Axis Capital Holdings Ltd		15,168		787
Axos Financial Inc *		11,236		425
B Riley Financial Inc (A)		4,400		159
Banc of California Inc		10,100		108
BancFirst Corp		4,050		343
Banco Latinoamericano de Comercio Exterior SA, Cl E		7,012		137
Bancorp Inc/The *		11,092		342
Bank First Corp (A)		1,500		114
Bank of Hawaii Corp (A)		8,024		314
Bank of Marin Bancorp		3,614		58
Bank of NT Butterfield & Son Ltd/The		8,500		213
Bank OZK (A)		23,070		798
BankUnited Inc		13,696		259
Bankwell Financial Group Inc		1,100		25


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Banner Corp		7,051	$	305
Bar Harbor Bankshares		2,850		67
BayCom Corp		3,000		49
BCB Bancorp Inc		3,200		34
Berkshire Hills Bancorp Inc		8,691		178
BGC Partners Inc, Cl A		55,336		225
Blackstone Inc		146,100		12,512
Blackstone Mortgage Trust Inc, Cl A ^‡(A)		34,500		628
Block Inc, Cl A *		111,109		6,710
Blue Foundry Bancorp *		6,000		56
Blue Owl Capital Inc, Cl A		84,000		861
Blue Ridge Bankshares Inc		3,700		32
BOK Financial Corp		5,582		454
Bread Financial Holdings Inc		11,300		318
Bridgewater Bancshares Inc *		6,100		53
Bright Health Group Inc *		530		5
Brighthouse Financial Inc *		14,500		584
Brightsphere Investment Group Inc		7,363		158
BrightSpire Capital Inc, Cl A ^‡		21,794		129
Brookline Bancorp Inc		20,233		166
BRP Group Inc, Cl A *		13,300		267
Business First Bancshares Inc		4,300		63
Byline Bancorp Inc		5,970		106
Cadence Bank		37,131		667
Cambridge Bancorp		1,500		76
Camden National Corp		3,058		90
Cannae Holdings Inc *		13,962		274
Cantaloupe Inc *		14,900		92
Capital Bancorp Inc		1,900		32
Capital City Bank Group Inc		2,861		86
Capitol Federal Financial Inc		28,287		169
Capstar Financial Holdings Inc		2,400		29
Carlyle Group Inc/The		41,100		1,127
Carter Bankshares Inc *		7,100		100
Cass Information Systems Inc		3,154		122
Cathay General Bancorp		15,115		442
Central Pacific Financial Corp		6,810		99
Chimera Investment Corp ^‡		53,665		259
Citizens & Northern Corp		3,540		68
City Holding Co		2,985		257
Civista Bancshares Inc		3,400		51
Claros Mortgage Trust Inc ^‡		21,600		225
CNA Financial Corp		6,775		250
CNB Financial Corp/PA		1,948		32
CNO Financial Group Inc		23,425		509
Coastal Financial Corp/WA *		1,900		65
Cohen & Steers Inc		5,536		301
Coinbase Global Inc, Cl A *(A)		33,800		2,102
Colony Bankcorp Inc		3,700		34
Columbia Banking System Inc		42,894		859
Columbia Financial Inc *		8,700		141
Commerce Bancshares Inc/MO		24,134		1,157


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Community Bank System Inc		11,251	$	556
Community Trust Bancorp Inc		3,393		114
Compass Diversified Holdings (A)		14,400		283
ConnectOne Bancorp Inc		8,383		114
Corebridge Financial Inc		14,300		238
Crawford & Co, Cl A		5,700		56
Credit Acceptance Corp *(A)		1,312		585
CrossFirst Bankshares Inc *		11,500		111
Cullen/Frost Bankers Inc		12,205		1,223
Curo Group Holdings Corp		4,500		5
Customers Bancorp Inc *		6,770		156
CVB Financial Corp		28,179		338
Diamond Hill Investment Group Inc		654		104
Dime Community Bancshares Inc		7,729		125
Donegal Group Inc, Cl A		2,500		36
Donnelley Financial Solutions Inc *		5,132		228
Dynex Capital Inc ^‡		9,597		108
Eagle Bancorp Inc		7,306		146
East West Bancorp Inc		30,366		1,453
Eastern Bankshares Inc		33,800		367
eHealth Inc *		5,874		39
Ellington Financial Inc ^‡		13,700		172
Employers Holdings Inc		5,074		183
Enact Holdings Inc		7,000		170
Encore Capital Group Inc *		3,875		167
Enova International Inc *		6,066		282
Enstar Group Ltd *		2,351		553
Enterprise Bancorp Inc/MA		2,848		76
Enterprise Financial Services Corp		7,165		291
Equitable Holdings Inc		74,700		1,833
Equity Bancshares Inc, Cl A		3,900		87
Erie Indemnity Co, Cl A		4,987		1,068
Esquire Financial Holdings Inc		1,600		68
Essent Group Ltd		22,800		1,007
Euronet Worldwide Inc *		9,488		1,057
Evercore Inc, Cl A		7,576		818
EVERTEC Inc		11,300		390
EZCORP Inc, Cl A *		11,257		94
F&G Annuities & Life Inc		3,894		81
Farmers & Merchants Bancorp Inc/Archbold OH		3,200		64
Farmers National Banc Corp		6,800		80
FB Financial Corp		7,502		200
Federal Agricultural Mortgage Corp, Cl C		1,988		266
Federated Hermes Inc, Cl B		17,870		615
Fidelity National Financial Inc		52,366		1,788
Finance Of America Cos Inc, Cl A *		7,100		10
Financial Institutions Inc		3,243		51
First American Financial Corp		21,672		1,190
First Bancorp Inc/The		3,052		72
First BanCorp/Puerto Rico		38,016		424
First Bancorp/Southern Pines NC		7,645		230


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
First Bancshares Inc/The		4,600	$	120
First Bank/Hamilton NJ		3,700		38
First Busey Corp		10,492		196
First Business Financial Services Inc		1,800		48
First Citizens BancShares Inc/NC, Cl A		2,302		2,871
First Commonwealth Financial Corp		18,601		235
First Community Bankshares Inc		2,342		62
First Financial Bancorp		20,633		391
First Financial Bankshares Inc		24,812		643
First Financial Corp/IN		2,412		78
First Foundation Inc		9,100		35
First Hawaiian Inc		25,900		427
First Horizon Corp		110,825		1,143
First Internet Bancorp		2,200		27
First Interstate BancSystem Inc, Cl A		19,316		426
First Merchants Corp		11,318		299
First Mid Bancshares Inc		3,572		86
First of Long Island Corp/The		4,995		51
First Western Financial Inc *		1,800		31
FirstCash Holdings Inc		7,620		751
Five Star Bancorp		2,800		54
Flushing Financial Corp		6,070		71
Flywire Corp *		11,700		351
FNB Corp/PA		74,289		816
Focus Financial Partners Inc, Cl A *		11,900		620
Franklin BSP Realty Trust Inc ^‡		16,854		227
Fulton Financial Corp		30,212		337
FVCBankcorp Inc *		3,375		34
GCM Grosvenor Inc		10,000		69
Genworth Financial Inc, Cl A *		103,600		554
German American Bancorp Inc		6,166		170
Glacier Bancorp Inc		22,975		662
Goosehead Insurance Inc, Cl A *		4,100		226
Granite Point Mortgage Trust Inc ^‡		10,941		51
Great Southern Bancorp Inc		2,499		122
Green Dot Corp, Cl A *		9,255		169
Greene County Bancorp Inc		1,020		27
Greenlight Capital Re Ltd, Cl A *		6,409		62
Guaranty Bancshares Inc/TX		1,500		36
Hamilton Lane Inc, Cl A		7,300		496
Hancock Whitney Corp		17,614		643
Hanmi Financial Corp		6,878		99
Hannon Armstrong Sustainable Infrastructure Capital Inc ^‡(A)		17,800		419
Hanover Insurance Group Inc/The		7,317		816
HarborOne Bancorp Inc		10,720		88
HBT Financial Inc		2,200		39
HCI Group Inc		1,115		59
Heartland Financial USA Inc		7,875		217
Heritage Commerce Corp		13,600		99
Heritage Financial Corp/WA		8,071		132
Hilltop Holdings Inc		9,500		280


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hingham Institution For Savings The		300	$	58
Hippo Holdings Inc *		3,484		55
Home Bancorp Inc		1,800		55
Home BancShares Inc/AR		38,532		827
Home Point Capital Inc		1,600		4
HomeStreet Inc		4,372		23
HomeTrust Bancshares Inc		4,102		80
Hope Bancorp Inc		26,995		217
Horace Mann Educators Corp		8,314		250
Horizon Bancorp Inc/IN		9,425		84
Houlihan Lokey Inc, Cl A		10,600		925
I3 Verticals Inc, Cl A *		4,800		110
Independent Bank Corp		9,720		429
Independent Bank Corp/MI		5,400		88
Independent Bank Group Inc		7,402		247
Interactive Brokers Group Inc, Cl A		18,827		1,454
International Bancshares Corp		9,850		421
International Money Express Inc *		5,400		126
Invesco Mortgage Capital Inc ^‡		8,009		85
Investors Title Co		400		53
Jackson Financial Inc, Cl A		15,700		435
James River Group Holdings Ltd		8,200		157
Janus Henderson Group PLC		26,900		707
Jefferies Financial Group Inc		41,000		1,233
John Marshall Bancorp Inc		2,700		55
Kearny Financial Corp/MD		10,929		75
Kemper Corp		12,273		531
Kinsale Capital Group Inc		4,500		1,363
KKR & Co Inc		117,163		6,033
KKR Real Estate Finance Trust Inc ^‡		12,500		140
Ladder Capital Corp, Cl A ^‡		25,162		240
Lakeland Bancorp Inc		13,393		174
Lakeland Financial Corp		4,757		239
Lazard Ltd, Cl A		15,931		457
Lemonade Inc *(A)		10,200		180
LendingClub Corp *		22,600		185
LendingTree Inc *		2,700		49
Live Oak Bancshares Inc		7,300		158
LPL Financial Holdings Inc		16,162		3,148
Luther Burbank Corp		4,422		38
Macatawa Bank Corp		5,200		45
Markel Group Inc *		2,773		3,646
Marqeta Inc, Cl A *		87,200		418
MBIA Inc *		10,982		87
Mercantile Bank Corp		3,557		93
Merchants Bancorp/IN		3,300		75
Mercury General Corp		5,978		179
Metrocity Bankshares Inc		3,800		62
Metropolitan Bank Holding Corp *		2,100		59
MFA Financial Inc ^‡		25,424		269
MGIC Investment Corp		58,018		877
Mid Penn Bancorp Inc		3,200		71


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Midland States Bancorp Inc		5,600	$	108
MidWestOne Financial Group Inc		3,169		60
Moelis & Co, Cl A		13,700		519
MoneyGram International Inc *		18,900		208
Moneylion Inc *		1,083		12
Morningstar Inc		5,020		1,028
Mr Cooper Group Inc *		15,371		711
MVB Financial Corp		2,400		43
National Bank Holdings Corp, Cl A		6,400		192
National Western Life Group Inc, Cl A		510		190
Navient Corp		22,200		336
NBT Bancorp Inc		8,508		285
Nelnet Inc, Cl A		2,731		253
NerdWallet Inc, Cl A *		5,800		55
New York Community Bancorp Inc (A)		136,815		1,406
New York Mortgage Trust Inc ^‡		22,559		220
Nexpoint Real Estate Finance Inc ^‡		1,600		21
NI Holdings Inc *		2,300		32
Nicolet Bankshares Inc		2,200		137
NMI Holdings Inc, Cl A *		14,800		372
Northeast Bank		1,500		54
Northfield Bancorp Inc		10,205		104
Northwest Bancshares Inc		27,479		289
OceanFirst Financial Corp		13,468		191
OFG Bancorp		10,925		265
Old National Bancorp/IN		60,361		750
Old Republic International Corp		57,044		1,397
Old Second Bancorp Inc		10,100		120
OmniAB Inc. *		2,598		—
OneMain Holdings Inc, Cl A		23,600		893
Open Lending Corp, Cl A *		23,800		241
Oportun Financial Corp *		5,900		34
Oppenheimer Holdings Inc, Cl A		2,164		85
Orchid Island Capital Inc, Cl A ^‡(A)		7,420		74
Origin Bancorp Inc		5,000		142
Orrstown Financial Services Inc		700		13
Oscar Health Inc, Cl A *		19,000		139
Pacific Premier Bancorp Inc		18,836		355
PacWest Bancorp (A)		23,312		150
Palomar Holdings Inc, Cl A *		4,700		257
Park National Corp		2,805		277
Parke Bancorp Inc		2,200		35
Pathward Financial Inc		6,100		268
Payoneer Global Inc *		43,900		182
Paysafe Ltd *		6,867		66
PCB Bancorp		2,600		37
Peapack-Gladstone Financial Corp		3,154		83
PennyMac Financial Services Inc		5,600		342
PennyMac Mortgage Investment Trust ^‡		14,463		168
Peoples Bancorp Inc/OH		5,572		143
Peoples Financial Services Corp		1,600		63
Perella Weinberg Partners, Cl A		10,900		85


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Pinnacle Financial Partners Inc		14,627	$	712
Pioneer Bancorp Inc/NY *		2,700		23
Piper Sandler Cos		3,177		405
PJT Partners Inc		5,200		350
Popular Inc		14,156		809
PRA Group Inc *		7,658		143
Preferred Bank/Los Angeles CA		3,037		140
Premier Financial Corp		6,876		96
Primerica Inc		7,329		1,334
Primis Financial Corp		6,000		44
Priority Technology Holdings Inc *		1,600		6
ProAssurance Corp		11,625		141
PROG Holdings Inc *		9,978		326
Prosperity Bancshares Inc		18,235		1,043
Provident Bancorp Inc		3,500		27
Provident Financial Services Inc		16,778		266
QCR Holdings Inc		3,900		150
Radian Group Inc		32,548		831
RBB Bancorp		2,600		27
Ready Capital Corp ^‡(A)		29,838		302
Red River Bancshares Inc		1,200		59
Redwood Trust Inc ^‡		27,405		162
Regional Management Corp		1,700		44
Reinsurance Group of America Inc, Cl A		14,016		1,962
Remitly Global Inc *		21,100		387
RenaissanceRe Holdings Ltd		8,706		1,640
Renasant Corp		11,160		292
Repay Holdings Corp, Cl A *		20,900		132
Republic Bancorp Inc/KY, Cl A		1,998		84
Republic First Bancorp Inc *(A)		9,800		13
Rithm Capital Corp ^‡		90,188		734
RLI Corp		8,282		1,026
Robinhood Markets Inc, Cl A *		115,800		1,033
Rocket Cos Inc, Cl A *(A)		21,000		168
Ryan Specialty Holdings Inc, Cl A *		17,400		710
S&T Bancorp Inc		8,332		223
Safety Insurance Group Inc		3,131		228
Sandy Spring Bancorp Inc		10,110		212
Sculptor Capital Management Inc, Cl A		5,700		49
Seacoast Banking Corp of Florida		14,981		310
SEI Investments Co ^†		20,819		1,178
Selective Insurance Group Inc		12,284		1,188
Selectquote Inc *		28,700		46
ServisFirst Bancshares Inc		10,600		427
Shift4 Payments Inc, Cl A *		10,500		659
Shore Bancshares Inc		2,000		23
Sierra Bancorp		2,978		48
Simmons First National Corp, Cl A		25,753		419
SiriusPoint Ltd *		20,200		188
Skyward Specialty Insurance Group Inc *		4,000		94
SLM Corp		49,020		748
SmartFinancial Inc		3,100		65


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
SoFi Technologies Inc *(A)		169,100	$	1,174
South Plains Financial Inc		2,400		53
Southern First Bancshares Inc *		1,491		34
Southern Missouri Bancorp Inc		1,900		71
Southside Bancshares Inc		6,762		179
SouthState Corp		15,484		968
Starwood Property Trust Inc ^‡(A)		60,580		1,063
Stellar Bancorp Inc		9,840		229
StepStone Group Inc, Cl A		10,500		226
Sterling Bancorp Inc/MI *		2,158		11
Stewart Information Services Corp		5,841		262
Stifel Financial Corp		20,473		1,138
Stock Yards Bancorp Inc		6,502		272
StoneCo Ltd, Cl A *		57,100		715
StoneX Group Inc *		3,768		303
Summit Financial Group Inc		2,600		50
Synovus Financial Corp		29,892		810
Texas Capital Bancshares Inc *		10,023		474
TFS Financial Corp		12,343		140
Third Coast Bancshares Inc *		800		13
Tiptree Inc		5,100		67
Toast Inc, Cl A *		51,600		1,082
Tompkins Financial Corp		2,705		141
Towne Bank/Portsmouth VA		13,867		322
TPG RE Finance Trust Inc ^‡		14,400		91
Tradeweb Markets Inc, Cl A		22,900		1,533
TriCo Bancshares		6,909		225
Triumph Financial Inc *		5,200		270
Trupanion Inc *(A)		8,600		193
TrustCo Bank Corp NY		4,325		120
Trustmark Corp		12,639		264
Two Harbors Investment Corp ^‡		20,110		250
UMB Financial Corp		9,345		529
United Bankshares Inc/WV		26,156		770
United Community Banks Inc/GA		21,618		489
United Fire Group Inc		4,171		90
Unity Bancorp Inc		2,800		64
Universal Insurance Holdings Inc		5,900		85
Univest Financial Corp		7,415		131
Unum Group *		40,900		1,777
Upstart Holdings Inc *(A)		14,400		392
USCB Financial Holdings Inc *(A)		2,200		22
UWM Holdings Corp (A)		20,000		103
Valley National Bancorp		83,068		613
Value Line Inc		300		14
Velocity Financial Inc *		1,800		16
Veritex Holdings Inc		10,839		187
Victory Capital Holdings Inc, Cl A		2,200		68
Virtu Financial Inc, Cl A		19,100		336
Virtus Investment Partners Inc		1,158		221
Voya Financial Inc		19,400		1,315
Walker & Dunlop Inc		6,423		470


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Washington Federal Inc		13,436	$	349
Washington Trust Bancorp Inc		3,870		99
Waterstone Financial Inc		4,000		54
Webster Financial Corp		35,429		1,260
WesBanco Inc		12,109		292
West BanCorp Inc		3,785		64
Westamerica BanCorp		4,955		187
Western Alliance Bancorp (A)		22,061		748
Western Union Co/The		80,300		915
WEX Inc *		8,976		1,489
White Mountains Insurance Group Ltd		462		626
Wintrust Financial Corp		12,449		791
WisdomTree Inc		21,375		145
World Acceptance Corp *		976		109
WSFS Financial Corp		13,212		442

				186,620
Health Care — 13.1%
10X Genomics Inc, Cl A *		18,100		950
23andMe Holding Co, Cl A *		45,800		88
2seventy bio Inc *		8,200		98
4D Molecular Therapeutics Inc *		7,700		141
Aadi Bioscience Inc *		2,900		23
AbCellera Biologics Inc *		40,500		282
Absci Corp *		16,500		31
Acadia Healthcare Co Inc *		18,587		1,313
ACADIA Pharmaceuticals Inc *		24,500		576
Accolade Inc *		11,200		135
Aclaris Therapeutics Inc *		15,900		133
AdaptHealth Corp, Cl A *		15,400		161
Adaptive Biotechnologies Corp *		23,700		165
Addus HomeCare Corp *		2,800		252
Adicet Bio Inc *		4,500		25
ADMA Biologics Inc *		40,800		166
Aerovate Therapeutics Inc *		2,200		36
Affimed NV *		27,377		24
Agenus Inc *		57,300		89
Agiliti Inc *		6,100		100
agilon health Inc *		53,800		1,070
Agios Pharmaceuticals Inc *		9,400		238
AirSculpt Technologies Inc (A)		1,400		12
Akero Therapeutics Inc *		6,200		276
Akoya Biosciences Inc *		1,600		9
Alector Inc *		13,000		97
Alignment Healthcare Inc *		17,000		100
Alkermes PLC *		33,053		956
Allogene Therapeutics Inc *		20,200		106
Allovir Inc *		7,300		28
Alnylam Pharmaceuticals Inc *		25,689		4,753
Alpha Teknova Inc *		1,500		6
Alphatec Holdings Inc *		11,800		179
Alpine Immune Sciences Inc *		2,500		25
ALX Oncology Holdings Inc *		4,300		29


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Amedisys Inc *		6,771	$	514
American Well Corp, Cl A *		43,300		96
Amicus Therapeutics Inc *		59,100		665
AMN Healthcare Services Inc *		9,209		874
Amneal Pharmaceuticals Inc *		23,588		55
Amphastar Pharmaceuticals Inc *		8,300		368
Amylyx Pharmaceuticals Inc *		9,000		222
AnaptysBio Inc *		4,800		92
Anavex Life Sciences Corp *(A)		15,300		141
AngioDynamics Inc *		8,570		81
ANI Pharmaceuticals Inc *		2,500		113
Anika Therapeutics Inc *		3,070		83
Apellis Pharmaceuticals Inc *		19,700		1,691
Apollo Medical Holdings Inc *		8,600		272
Arbutus Biopharma Corp *		16,700		42
Arcellx Inc *		6,100		269
Arcturus Therapeutics Holdings Inc *		5,500		150
Arcus Biosciences Inc *		10,600		218
Arcutis Biotherapeutics Inc *		7,000		53
Arrowhead Pharmaceuticals Inc *		20,800		716
Artivion Inc *		8,545		128
Arvinas Inc *		10,700		234
Atara Biotherapeutics Inc *		20,600		32
Atea Pharmaceuticals Inc *		15,000		60
Athira Pharma Inc *		4,800		13
AtriCure Inc *		9,320		419
Atrion Corp		330		172
Aura Biosciences Inc *		2,200		25
Aurinia Pharmaceuticals Inc *		31,600		283
Avanos Medical Inc *		7,800		191
Avantor Inc *		127,151		2,535
Aveanna Healthcare Holdings Inc *		10,800		13
Avid Bioservices Inc *		13,800		213
Avidity Biosciences Inc *		13,400		142
Avista Public Acquisition Corp II, Cl W *		16,797		73
Axogen Inc *		9,085		77
Axonics Inc *		10,500		508
Axsome Therapeutics Inc *(A)		6,500		480
Azenta Inc *		15,103		653
Beam Therapeutics Inc *		13,500		431
BioCryst Pharmaceuticals Inc *		41,300		342
Biohaven Ltd *		9,850		172
BioLife Solutions Inc *		7,900		184
BioMarin Pharmaceutical Inc *		38,746		3,369
Bionano Genomics Inc *(A)		63,500		44
Bioventus Inc, Cl A *		6,639		18
Bioxcel Therapeutics Inc *		3,900		70
Bluebird Bio Inc *		14,400		48
Blueprint Medicines Corp *		13,100		740
Bridgebio Pharma Inc *		22,935		315
Brookdale Senior Living Inc, Cl A *		42,209		146
Bruker Corp		21,932		1,515


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Butterfly Network Inc *(A)		31,800	$	78
C4 Therapeutics Inc *		8,100		27
Cano Health Inc *(A)		32,300		44
Cara Therapeutics Inc *		9,400		30
CareDx Inc *		11,500		92
CareMax Inc *		13,900		37
Caribou Biosciences Inc *		15,100		67
Cassava Sciences Inc *(A)		8,700		198
Castle Biosciences Inc *		4,600		112
Catalyst Pharmaceuticals Inc *		19,700		228
Celldex Therapeutics Inc *		10,300		328
Century Therapeutics Inc *		2,500		8
Cerevel Therapeutics Holdings Inc *		12,400		404
Certara Inc *		23,764		494
Cerus Corp *		38,497		82
Chemed Corp		2,945		1,572
Chimerix Inc *		20,300		28
Chinook Therapeutics Inc *		10,960		265
Clover Health Investments Corp, Cl A *		93,800		79
Codexis Inc *		13,961		31
Cogent Biosciences Inc *		14,000		164
Coherus Biosciences Inc *		14,800		61
Collegium Pharmaceutical Inc *		7,800		172
Community Health Systems Inc *		28,329		93
Computer Programs and Systems Inc *		3,302		79
CONMED Corp		5,708		692
Corcept Therapeutics Inc *		19,200		451
CorVel Corp *		1,934		378
Crinetics Pharmaceuticals Inc *		10,300		225
Cross Country Healthcare Inc *		7,179		183
CryoPort Inc *		9,400		173
CTI BioPharma Corp *		23,900		216
Cue Health Inc *		26,000		20
Cullinan Oncology Inc *		7,700		79
Cutera Inc *		3,900		66
Cytek Biosciences Inc *		23,200		181
Cytokinetics Inc *		16,700		629
Day One Biopharmaceuticals Inc *		7,000		93
Deciphera Pharmaceuticals Inc *		8,900		120
Definitive Healthcare Corp, Cl A *		7,300		71
Denali Therapeutics Inc *		20,900		632
Design Therapeutics Inc *(A)		7,800		44
DICE Therapeutics Inc *		6,400		202
DocGo Inc *		13,700		123
Doximity Inc, Cl A *		22,900		702
Dynavax Technologies Corp, Cl A *		23,889		273
Dyne Therapeutics Inc *		6,100		79
Eagle Pharmaceuticals Inc/DE *		2,700		56
Edgewise Therapeutics Inc *		8,300		84
Editas Medicine Inc, Cl A *		15,400		141
Eiger BioPharmaceuticals Inc *		5,600		6
Elanco Animal Health Inc *		92,100		751


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Embecta Corp		13,400	$	371
Emergent BioSolutions Inc *		10,984		94
Enanta Pharmaceuticals Inc *		4,700		110
Encompass Health Corp		19,741		1,224
Enhabit Inc *		10,870		117
Enovis Corp *		10,663		562
Ensign Group Inc/The		11,036		978
Envista Holdings Corp *		32,700		1,043
EQRx Inc *		44,100		78
Erasca Inc *		14,600		40
Esperion Therapeutics Inc *		13,600		18
Evolent Health Inc, Cl A *		17,100		498
Evolus Inc *		11,000		100
Exact Sciences Corp *		36,726		2,996
Exelixis Inc *		65,300		1,259
EyePoint Pharmaceuticals Inc *		4,500		27
Fate Therapeutics Inc *		18,600		94
FibroGen Inc *		19,000		328
Figs Inc, Cl A *		24,600		203
Foghorn Therapeutics Inc *(A)		4,200		26
Fulcrum Therapeutics Inc *		5,100		14
Fulgent Genetics Inc *		4,700		187
GeneDx Holdings Corp, Cl A *		1,076		8
Generation Bio Co *		9,900		35
Geron Corp *		71,070		232
Glaukos Corp *		9,049		516
Globus Medical Inc, Cl A *		16,300		882
Gossamer Bio Inc *		13,600		18
Guardant Health Inc *		20,000		586
Haemonetics Corp *		10,347		875
Halozyme Therapeutics Inc *		27,658		897
Harmony Biosciences Holdings Inc *		5,300		183
Health Catalyst Inc *		12,300		138
HealthEquity Inc *		17,100		937
HealthStream Inc		5,964		137
Heron Therapeutics Inc *(A)		20,900		24
Heska Corp *		2,200		263
HilleVax Inc *		800		14
Hims & Hers Health Inc *		24,600		220
Horizon Therapeutics Plc *		45,703		4,572
Humacyte Inc *		14,991		51
Icosavax Inc *		2,900		29
ICU Medical Inc *		3,927		687
Ideaya Biosciences Inc *		7,400		169
IGM Biosciences Inc *		1,200		14
ImmunityBio Inc *(A)		13,700		38
ImmunoGen Inc *		50,852		694
Immunovant Inc *		10,200		214
Inari Medical Inc *		10,200		616
Inhibrx Inc *		6,100		144
Innovage Holding Corp *		3,900		26
Innoviva Inc *		14,609		197


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Inogen Inc *		4,100	$	43
Inotiv Inc *		2,800		17
Inovio Pharmaceuticals Inc *(A)		42,500		25
Insmed Inc *		26,900		512
Inspire Medical Systems Inc *		6,000		1,755
Instil Bio Inc *		11,600		7
Integer Holdings Corp *		6,130		502
Integra LifeSciences Holdings Corp *		15,304		581
Intellia Therapeutics Inc *		16,400		611
Intercept Pharmaceuticals Inc *		5,876		62
Intra-Cellular Therapies Inc *		19,400		1,152
Invitae Corp *(A)		45,000		48
Invivyd Inc *(A)		4,500		8
Ionis Pharmaceuticals Inc *		30,594		1,251
Iovance Biotherapeutics Inc *		35,200		308
iRadimed Corp		1,100		52
iRhythm Technologies Inc *		6,300		720
Ironwood Pharmaceuticals Inc, Cl A *		27,354		298
iTeos Therapeutics Inc *		4,600		75
IVERIC bio Inc *		27,800		1,049
Janux Therapeutics Inc *		2,800		33
Jazz Pharmaceuticals PLC *		12,700		1,628
Joint Corp/The *		3,000		43
KalVista Pharmaceuticals Inc *		4,700		46
Karuna Therapeutics Inc *		6,600		1,495
Karyopharm Therapeutics Inc *		16,200		37
Keros Therapeutics Inc *		3,600		172
Kezar Life Sciences Inc *		7,900		22
Kiniksa Pharmaceuticals Ltd, Cl A *		6,700		93
Kinnate Biopharma Inc *		7,700		33
Kodiak Sciences Inc *		7,600		45
Kronos Bio Inc *		8,400		14
Krystal Biotech Inc *		4,300		507
Kura Oncology Inc *		13,700		182
Kymera Therapeutics Inc *		7,600		224
Lantheus Holdings Inc *		14,600		1,264
LeMaitre Vascular Inc		4,200		264
Lexicon Pharmaceuticals Inc *		17,105		56
LifeStance Health Group Inc *(A)		13,300		109
Ligand Pharmaceuticals Inc *		3,428		240
Liquidia Corp *		10,700		87
LivaNova PLC *		11,200		496
Lyell Immunopharma Inc *		33,800		108
MacroGenics Inc *		12,600		59
Madrigal Pharmaceuticals Inc *		2,700		752
MannKind Corp *		56,200		261
Maravai LifeSciences Holdings Inc, Cl A *		25,018		321
Masimo Corp *		10,093		1,633
MaxCyte Inc *		20,500		84
Medpace Holdings Inc *		5,400		1,118
MeiraGTx Holdings plc *		6,700		46
Merit Medical Systems Inc *		11,275		929


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Mersana Therapeutics Inc *		15,600	$	117
Mesa Laboratories Inc		1,100		142
MiMedx Group Inc *		26,300		154
Mirati Therapeutics Inc *		8,600		320
Mirum Pharmaceuticals Inc *		3,700		97
ModivCare Inc *		2,458		110
Monte Rosa Therapeutics Inc *		8,900		66
Morphic Holding Inc *		4,500		259
Multiplan Corp *		84,900		118
Myriad Genetics Inc *		14,226		314
NanoString Technologies Inc *		10,000		59
Nano-X Imaging Ltd, Cl X *(A)		11,200		199
Natera Inc *		19,300		909
National HealthCare Corp		2,994		182
National Research Corp, Cl A		3,212		144
Nautilus Biotechnology Inc, Cl A *		6,155		18
Nektar Therapeutics, Cl A *		40,700		24
Neogen Corp *		42,512		744
NeoGenomics Inc *		25,500		438
Neurocrine Biosciences Inc *		19,500		1,746
Nevro Corp *		7,800		215
NextGen Healthcare Inc *		13,015		203
NGM Biopharmaceuticals Inc *		7,200		22
Nkarta Inc *		7,474		35
Novavax Inc *(A)		17,168		138
Novocure Ltd *		21,000		1,508
Nurix Therapeutics Inc *		10,000		101
Nutex Health Inc *(A)		74,600		32
Nuvalent Inc, Cl A *		4,700		198
NuVasive Inc *		9,678		369
Nuvation Bio Inc *		34,000		55
Ocugen Inc *(A)		43,100		20
Ocular Therapeutix Inc *		18,400		118
Omnicell Inc *		9,312		684
OPKO Health Inc *		93,184		130
OptimizeRx Corp *		4,000		56
Option Care Health Inc *		33,327		918
OraSure Technologies Inc *		19,939		100
Organogenesis Holdings Inc, Cl A *		12,321		45
Orthofix Medical Inc *		6,953		130
OrthoPediatrics Corp *		2,800		121
Outlook Therapeutics Inc *(A)		18,700		28
Outset Medical Inc *		10,800		225
Owens & Minor Inc *		16,439		334
Pacific Biosciences of California Inc *		54,400		673
Pacira BioSciences Inc *		9,945		378
Paragon 28 Inc *		11,500		207
Patterson Cos Inc		19,500		511
Pediatrix Medical Group Inc *		17,356		231
Pennant Group Inc/The *		6,468		78
Penumbra Inc *		7,300		2,244
Perrigo Co PLC		28,800		920


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
PetIQ Inc, Cl A *		6,000	$	76
Phathom Pharmaceuticals Inc *		5,900		69
PhenomeX Inc *		10,700		7
Phibro Animal Health Corp, Cl A		4,800		64
Phreesia Inc *		11,200		336
PMV Pharmaceuticals Inc *		6,200		33
Point Biopharma Global Inc, Cl A *(A)		19,100		177
Praxis Precision Medicines Inc *		8,800		8
Precigen Inc *		21,300		25
Premier Inc, Cl A		24,100		602
Prestige Consumer Healthcare Inc *		9,879		565
Prime Medicine Inc *(A)		2,100		29
Privia Health Group Inc *(A)		19,300		482
PROCEPT BioRobotics Corp *		4,600		154
Progyny Inc *		15,000		559
Prometheus Biosciences Inc *		7,100		1,411
Protagonist Therapeutics Inc *		10,100		263
Prothena Corp PLC *		7,900		525
PTC Therapeutics Inc *		15,200		638
Pulmonx Corp *		6,600		79
QIAGEN NV *		47,483		2,144
Quanterix Corp *		7,000		137
Quantum-Si Inc *		21,500		32
QuidelOrtho Corp *		10,071		857
R1 RCM Inc *		27,900		453
RadNet Inc *		11,000		318
Rallybio Corp *		700		5
RAPT Therapeutics Inc *		5,700		114
Reata Pharmaceuticals Inc, Cl A *		5,900		531
Recursion Pharmaceuticals Inc, Cl A *		27,400		240
REGENXBIO Inc *		9,300		160
Relay Therapeutics Inc *		15,500		173
Relmada Therapeutics Inc *		6,000		17
Repligen Corp *		11,122		1,868
Replimune Group Inc *		7,600		144
Revance Therapeutics Inc *		15,800		483
REVOLUTION Medicines Inc *		16,300		406
Rigel Pharmaceuticals Inc *		37,059		52
Rocket Pharmaceuticals Inc *		11,300		236
Royalty Pharma PLC, Cl A		77,400		2,534
RxSight Inc *		4,500		110
Sage Therapeutics Inc *		10,700		530
Sana Biotechnology Inc *(A)		18,300		110
Sangamo Therapeutics Inc *		28,370		32
Sarepta Therapeutics Inc *		17,800		2,200
Schrodinger Inc/United States *		12,200		408
Scilex Holding Co - Restricted *(A)		12,212		124
Seagen Inc *		28,000		5,480
Seer Inc, Cl A *		8,800		32
Select Medical Holdings Corp		21,565		590
Senseonics Holdings Inc *(A)		96,400		62
Seres Therapeutics Inc *		15,900		79


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sharecare Inc *		64,600	$	96
Shockwave Medical Inc *		7,500		2,063
SI-BONE Inc *		7,300		184
SIGA Technologies Inc		10,000		56
Sight Sciences Inc *		2,400		23
Silk Road Medical Inc *		7,600		229
Simulations Plus Inc		3,900		172
Singular Genomics Systems Inc *		2,500		3
SomaLogic Inc *		37,300		113
Sotera Health Co *		20,424		288
SpringWorks Therapeutics Inc *		6,700		183
STAAR Surgical Co *		9,678		562
Stoke Therapeutics Inc *		4,300		48
Supernus Pharmaceuticals Inc *		10,100		335
Surgery Partners Inc *		11,700		438
Surmodics Inc *		3,044		56
Sutro Biopharma Inc *		9,400		42
Syndax Pharmaceuticals Inc *		10,100		202
Syneos Health Inc, Cl A *		21,100		878
Tactile Systems Technology Inc *		4,900		103
Talaris Therapeutics Inc *		6,800		18
Tandem Diabetes Care Inc *		11,900		309
Tango Therapeutics Inc *(A)		5,100		14
Tarsus Pharmaceuticals Inc *		2,600		44
Teladoc Health Inc *		35,140		813
Tenaya Therapeutics Inc *		3,000		22
Tenet Healthcare Corp *		22,700		1,616
TG Therapeutics Inc *		29,500		786
Theravance Biopharma Inc *		12,845		144
Theseus Pharmaceuticals Inc *		2,500		18
TransMedics Group Inc *		6,200		450
Travere Therapeutics Inc *		13,800		247
Treace Medical Concepts Inc *		6,200		165
Twist Bioscience Corp *		12,300		186
Tyra Biosciences Inc *(A)		2,600		38
UFP Technologies Inc *		1,100		170
Ultragenyx Pharmaceutical Inc *		14,800		731
United Therapeutics Corp *		9,164		1,922
US Physical Therapy Inc		2,826		289
Utah Medical Products Inc		1,000		93
Vanda Pharmaceuticals Inc *		11,800		70
Varex Imaging Corp *		8,600		190
Vaxart Inc *(A)		29,300		36
Vaxcyte Inc *		16,700		827
VBI Vaccines Inc *(A)		1,229		4
Veeva Systems Inc, Cl A *		29,093		4,821
Ventyx Biosciences Inc *		6,000		207
Vera Therapeutics Inc, Cl A *		1,500		13
Veracyte Inc *		16,300		422
Veradigm Inc *		22,053		260
Vericel Corp *		10,600		340
Verve Therapeutics Inc *		10,000		155


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Vicarious Surgical Inc *(A)		12,000	$	25
ViewRay Inc *		29,700		16
Vir Biotechnology Inc *		13,100		349
Viridian Therapeutics Inc *		6,300		150
VistaGen Therapeutics Inc *		53,300		8
Xencor Inc *		10,000		271
Xeris Biopharma Holdings Inc *		29,100		74
Y-mAbs Therapeutics Inc *		8,800		72
Zentalis Pharmaceuticals Inc *		10,300		268
Zimvie Inc *		4,800		48
Zynex Inc *		4,180		39

				156,499
Industrials — 16.5%
3D Systems Corp *		27,947		229
AAON Inc		8,850		766
AAR Corp *		6,029		302
ABM Industries Inc		13,955		616
ACCO Brands Corp		22,029		107
Acuity Brands Inc		6,425		968
ACV Auctions Inc, Cl A *		27,200		463
Advanced Drainage Systems Inc		13,300		1,287
AECOM		27,448		2,142
Aerojet Rocketdyne Holdings Inc *		16,679		909
AeroVironment Inc *		5,125		479
AerSale Corp *		7,700		116
AGCO Corp		12,423		1,370
Air Lease Corp, Cl A		22,031		838
Air Transport Services Group Inc *		11,236		188
Alamo Group Inc		2,035		339
Albany International Corp, Cl A		6,798		577
Alight Inc, Cl A *		73,200		619
Allegiant Travel Co, Cl A *		3,450		336
Allied Motion Technologies Inc		2,650		90
Allison Transmission Holdings Inc		18,276		864
Alta Equipment Group Inc		4,403		60
Ameresco Inc, Cl A *		7,079		305
American Woodmark Corp *		3,984		237
API Group Corp *		43,300		979
Apogee Enterprises Inc		3,911		144
Applied Industrial Technologies Inc		7,561		930
ArcBest Corp		4,590		385
Archer Aviation Inc, Cl A *		32,200		96
Arcosa Inc		10,513		690
Argan Inc		2,979		120
Aris Water Solutions Inc, Cl A		4,200		39
Armstrong World Industries Inc		8,577		536
Array Technologies Inc *		28,987		643
ASGN Inc *		9,469		620
Astec Industries Inc		5,163		190
Astronics Corp *		3,874		62
Astronics Corp, Cl B *		2,395		39
Atkore Inc *		7,700		899


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Avis Budget Group Inc *		5,160	$	866
AZEK Co Inc/The, Cl A *		21,500		500
AZZ Inc		5,796		202
Babcock & Wilcox Enterprises Inc *		11,900		57
Barnes Group Inc		8,952		352
Barrett Business Services Inc		1,634		137
Beacon Roofing Supply Inc *		10,570		676
Blade Air Mobility Inc *		12,600		41
Blink Charging Co *(A)		8,500		57
Bloom Energy Corp, Cl A *		36,800		505
Blue Bird Corp *		4,392		111
BlueLinx Holdings Inc *		1,900		156
Boise Cascade Co		7,770		558
Booz Allen Hamilton Holding Corp, Cl A		26,865		2,702
Brady Corp, Cl A		8,827		421
BrightView Holdings Inc *		9,600		63
Brink's Co/The		9,706		646
Brookfield Business Corp, Cl A (A)		6,500		134
Builders FirstSource Inc *		29,651		3,438
BWX Technologies Inc		18,824		1,135
CACI International Inc, Cl A *		4,832		1,446
Cadre Holdings Inc		3,700		77
Caesarstone Ltd		4,600		21
Carlisle Cos Inc		10,477		2,226
Casella Waste Systems Inc, Cl A *		10,691		964
CBIZ Inc *		10,045		506
ChargePoint Holdings Inc *(A)		55,200		534
Chart Industries Inc *		8,572		941
Cimpress PLC *(A)		4,299		205
CIRCOR International Inc *		3,715		108
Clarivate PLC *		91,300		712
Clean Harbors Inc *		10,176		1,429
Columbus McKinnon Corp/NY		6,165		225
Comfort Systems USA Inc		7,491		1,109
CompX International Inc		400		7
Concentrix Corp		8,581		753
Concrete Pumping Holdings Inc *		3,900		27
Conduent Inc *		39,300		119
Construction Partners Inc, Cl A *		7,400		205
Copa Holdings SA, Cl A		5,928		623
Core & Main Inc, Cl A *		14,500		388
CoreCivic Inc *^‡		27,302		235
Costamare Inc		11,500		89
Covenant Logistics Group Inc, Cl A		1,400		53
CRA International Inc		1,705		158
Crane Co		9,729		707
Crane NXT Co		9,729		512
CSG Systems International Inc		6,117		293
CSW Industrials Inc		3,000		425
Curtiss-Wright Corp		7,978		1,261
Custom Truck One Source Inc *(A)		14,400		93
Daseke Inc *		7,700		46


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Deluxe Corp		10,154	$	155
Desktop Metal Inc, Cl A *(A)		41,564		77
Donaldson Co Inc		25,146		1,472
Douglas Dynamics Inc		5,222		148
Driven Brands Holdings Inc *		12,800		318
Ducommun Inc *		2,400		98
Dun & Bradstreet Holdings Inc		50,600		506
DXP Enterprises Inc/TX *		4,162		133
Dycom Industries Inc *		6,007		609
Eagle Bulk Shipping Inc (A)		2,913		114
EMCOR Group Inc		9,987		1,646
Encore Wire Corp		3,403		557
Energy Recovery Inc *		12,100		288
Energy Vault Holdings Inc *(A)		13,900		29
Enerpac Tool Group Corp, Cl A		10,942		278
EnerSys		8,483		825
Ennis Inc		5,288		102
Enovix Corp *(A)		22,200		295
EnPro Industries Inc		4,068		411
Esab Corp		11,762		691
ESCO Technologies Inc		5,277		475
ESS Tech Inc *(A)		18,100		21
ExlService Holdings Inc *		6,323		954
Exponent Inc		9,972		911
Federal Signal Corp		11,847		628
First Advantage Corp *		11,600		157
Flowserve Corp		26,000		846
Fluence Energy Inc, Cl A *(A)		7,300		181
Fluor Corp *		27,500		730
Forrester Research Inc *		2,464		71
Fortune Brands Innovations Inc		26,400		1,596
Forward Air Corp		5,318		517
Franklin Covey Co *		3,304		122
Franklin Electric Co Inc		9,881		899
Frontier Group Holdings Inc *		9,200		76
FTC Solar Inc *		4,100		11
FTI Consulting Inc *		6,768		1,272
FuelCell Energy Inc *(A)		85,700		182
Gates Industrial Corp PLC *		21,200		248
GATX Corp		7,152		850
Genco Shipping & Trading Ltd		7,300		91
Genpact Ltd		35,550		1,308
GEO Group Inc/The *		21,385		160
Gibraltar Industries Inc *		5,560		291
Global Industrial Co		2,900		72
GMS Inc *		9,400		595
Golden Ocean Group Ltd (A)		29,000		205
Gorman-Rupp Co/The		5,777		138
Graco Inc		34,305		2,624
GrafTech International Ltd		46,100		198
Granite Construction Inc		7,734		280
Great Lakes Dredge & Dock Corp *		14,980		95


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Greenbrier Cos Inc/The		7,123	$	194
Griffon Corp		9,237		291
GXO Logistics Inc *		22,590		1,263
H&E Equipment Services Inc		5,325		191
Harsco Corp *		16,828		142
Hawaiian Holdings Inc *		12,480		100
Hayward Holdings Inc *		11,600		126
Healthcare Services Group Inc		17,339		234
Heartland Express Inc		9,772		152
HEICO Corp		9,118		1,409
HEICO Corp, Cl A		16,682		2,033
Heidrick & Struggles International Inc		4,552		110
Helios Technologies Inc		5,877		291
Herc Holdings Inc		4,867		494
Heritage-Crystal Clean Inc *		3,100		103
Hertz Global Holdings Inc *		37,000		580
Hexcel Corp		17,298		1,193
Hillenbrand Inc		14,480		695
Hillman Solutions Corp *		32,100		260
HireRight Holdings Corp *		5,200		53
HNI Corp		10,149		259
Hub Group Inc, Cl A *		6,762		497
Hubbell Inc, Cl B		10,889		3,076
Hudson Technologies Inc *		5,300		46
Huron Consulting Group Inc *		3,911		318
Hydrofarm Holdings Group Inc *		8,200		8
Hyliion Holdings Corp *		27,400		45
Hyster-Yale Materials Handling Inc		2,002		94
Hyzon Motors Inc *(A)		20,500		11
IBEX Holdings Ltd *		1,200		25
ICF International Inc		3,368		377
IES Holdings Inc *		1,700		81
Insperity Inc		7,624		844
Insteel Industries Inc		4,141		124
Interface Inc, Cl A		14,045		97
ITT Inc		17,363		1,322
Janus International Group Inc *		20,400		180
JELD-WEN Holding Inc *		21,100		276
JetBlue Airways Corp *		63,181		432
Joby Aviation Inc *(A)		59,800		336
John Bean Technologies Corp		6,331		675
Kadant Inc		2,125		403
Kaman Corp		6,573		137
Karat Packaging Inc		1,000		16
KBR Inc		28,745		1,697
Kelly Services Inc, Cl A		7,995		140
Kennametal Inc		15,814		394
Kforce Inc		4,537		261
Kimball International Inc, Cl B		7,025		86
Kirby Corp *		11,626		832
Knight-Swift Transportation Holdings Inc, Cl A		31,727		1,745


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Korn Ferry		10,858	$	510
Kratos Defense & Security Solutions Inc *		24,316		320
Landstar System Inc		7,644		1,341
Legalzoom.com Inc *		21,900		245
Lennox International Inc		6,529		1,799
Li-Cycle Holdings Corp *(A)		32,100		151
Lincoln Electric Holdings Inc		11,433		1,940
Lindsay Corp		1,927		227
Liquidity Services Inc *		5,922		90
Luxfer Holdings PLC		7,600		109
Lyft Inc, Cl A *		68,500		618
Manitowoc Co Inc/The *		7,787		112
ManpowerGroup Inc		9,956		699
Markforged Holding Corp *(A)		24,700		22
Marten Transport Ltd		9,729		206
Masonite International Corp *		4,200		370
MasTec Inc *		12,082		1,225
Masterbrand Inc *		21,900		227
Matson Inc		7,852		537
Matthews International Corp, Cl A		6,813		262
Maximus Inc		12,716		1,029
McGrath RentCorp		4,548		404
MDU Resources Group Inc		41,932		1,224
Mercury Systems Inc *		9,423		382
Microvast Holdings Inc *(A)		44,900		56
Middleby Corp/The *		10,825		1,429
Miller Industries Inc/TN		2,311		76
MillerKnoll Inc		16,907		229
Montrose Environmental Group Inc *		5,900		207
Moog Inc, Cl A		5,624		547
MRC Global Inc *		18,112		157
MSA Safety Inc		7,544		1,038
MSC Industrial Direct Co Inc, Cl A		9,003		810
Mueller Industries Inc		11,808		877
Mueller Water Products Inc, Cl A		28,612		392
MYR Group Inc *		3,079		393
National Presto Industries Inc		1,091		81
NEXTracker Inc, Cl A *		6,300		241
Nikola Corp *(A)		66,200		41
NL Industries Inc		2,000		11
Northwest Pipe Co *		2,600		69
NOW Inc *		25,100		223
NuScale Power Corp *(A)		6,900		52
NV5 Global Inc *		3,000		272
nVent Electric PLC		35,300		1,531
Omega Flex Inc		600		62
OPENLANE Inc *		22,429		337
Oshkosh Corp		13,617		1,005
Owens Corning		19,760		2,101
PAM Transportation Services Inc *		1,600		42
Park Aerospace Corp		5,082		67
Parsons Corp *		6,000		268


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Paycor HCM Inc *		10,900	$	240
Paylocity Holding Corp *		8,300		1,434
PGT Innovations Inc *		12,300		306
Pitney Bowes Inc		41,300		137
Planet Labs PBC *		38,700		178
Plug Power Inc *(A)		102,200		850
Powell Industries Inc		1,364		78
Preformed Line Products Co		690		106
Primoris Services Corp		12,547		336
Proterra Inc *(A)		38,100		41
Proto Labs Inc *		6,099		188
Quad/Graphics Inc, Cl A *		6,600		22
Quanex Building Products Corp		6,965		146
Radiant Logistics Inc *		12,400		77
RB Global Inc		13,933		726
RBC Bearings Inc *		5,695		1,129
Red Violet Inc *		1,100		22
Regal Rexnord Corp		13,338		1,732
Resideo Technologies Inc *		29,000		465
Resources Connection Inc		6,981		107
REV Group Inc		8,400		85
Rocket Lab USA Inc *(A)		52,300		240
Rush Enterprises Inc, Cl A		7,698		402
Rush Enterprises Inc, Cl B		700		41
RXO Inc *		21,890		457
Ryder System Inc		10,600		836
Safe Bulkers Inc		12,300		39
Saia Inc *		5,292		1,504
Sarcos Technology & Robotics Corp *		17,000		7
Schneider National Inc, Cl B		11,200		290
Science Applications International Corp		11,276		1,097
Sensata Technologies Holding PLC		32,100		1,333
Shoals Technologies Group Inc, Cl A *		35,700		839
Shyft Group Inc/The		7,900		186
Simpson Manufacturing Co Inc		8,743		1,033
SiteOne Landscape Supply Inc *		9,400		1,296
Skillsoft Corp *		9,600		15
SkyWest Inc *		11,322		339
SP Plus Corp *		4,298		156
Spirit AeroSystems Holdings Inc, Cl A		20,275		539
Spirit Airlines Inc		22,647		344
SPX Technologies Inc *		8,394		641
SS&C Technologies Holdings Inc		45,118		2,480
Standex International Corp		2,129		290
Steelcase Inc, Cl A		20,157		131
Stem Inc *(A)		32,700		180
Stericycle Inc *		18,400		776
Sterling Check Corp *		3,600		49
Sterling Infrastructure Inc *		6,300		290
Sun Country Airlines Holdings Inc *		4,900		92
SunPower Corp, Cl A *		18,336		194
Sunrun Inc *		43,810		773


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Tennant Co		4,138	$	302
Terex Corp		12,770		592
Tetra Tech Inc		11,242		1,545
Textainer Group Holdings Ltd		8,753		310
Thermon Group Holdings Inc *		6,882		158
Timken Co/The		12,009		859
Titan International Inc *		10,800		107
Titan Machinery Inc *		4,312		109
Toro Co/The		21,800		2,133
TPI Composites Inc *		7,500		80
Transcat Inc *		1,600		135
TransUnion		40,094		2,886
Trex Co Inc *		22,760		1,169
TriNet Group Inc *		7,800		693
Trinity Industries Inc		17,742		375
Triton International Ltd		11,384		941
Triumph Group Inc *		14,496		162
TrueBlue Inc *		8,328		138
TTEC Holdings Inc		4,227		134
TuSimple Holdings Inc, Cl A *		30,000		61
Tutor Perini Corp *		8,051		43
Uber Technologies Inc *		395,422		14,998
UFP Industries Inc		11,865		927
U-Haul Holding Co		1,900		100
U-Haul Holding Co, Cl B		17,100		792
UniFirst Corp/MA		2,840		486
Univar Solutions Inc *		32,250		1,149
Universal Logistics Holdings Inc		1,900		50
Upwork Inc *		26,500		217
V2X Inc *		2,679		110
Valmont Industries Inc		4,214		1,105
Velo3D Inc *(A)		21,200		41
Veritiv Corp		2,699		285
Verra Mobility Corp, Cl A *		29,700		524
Vertiv Holdings Co, Cl A		62,100		1,199
Viad Corp *		4,271		99
Vicor Corp *		4,900		271
View Inc *(A)		31,300		5
Virgin Galactic Holdings Inc *(A)		51,300		177
VSE Corp		2,500		118
Wabash National Corp		8,041		189
Watsco Inc		6,759		2,192
Watts Water Technologies Inc, Cl A		5,756		912
Werner Enterprises Inc		11,890		522
WESCO International Inc		8,865		1,218
Wheels Up Experience Inc *		19,200		6
Willdan Group Inc *		2,400		40
WillScot Mobile Mini Holdings Corp, Cl A *		41,811		1,801
Woodward Inc		12,142		1,280
Xometry Inc, Cl A *(A)		7,700		141
XPO Inc *		21,890		1,027


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Zurn Elkay Water Solutions Corp		27,426	$	617

				197,624
Information Technology — 19.4%
8x8 Inc *		25,314		103
908 Devices Inc *		5,300		46
A10 Networks Inc		13,400		200
ACI Worldwide Inc *		23,812		543
ACM Research Inc, Cl A *		12,000		121
Adeia Inc		23,950		235
ADTRAN Holdings Inc		15,797		141
Advanced Energy Industries Inc		7,919		777
Aeva Technologies Inc *		22,800		27
Agilysys Inc *		3,900		290
Akoustis Technologies Inc *		8,400		27
Alarm.com Holdings Inc *		9,600		482
Alkami Technology Inc *		6,400		96
Allegro MicroSystems Inc *		12,600		496
Alpha & Omega Semiconductor Ltd *		4,800		133
Altair Engineering Inc, Cl A *		10,200		748
Alteryx Inc, Cl A *		12,000		467
Ambarella Inc *		6,945		502
Amdocs Ltd		25,068		2,361
American Software Inc/GA, Cl A		7,072		90
Amkor Technology Inc		19,138		474
Amplitude Inc, Cl A *		13,700		133
Appfolio Inc, Cl A *		3,700		530
Appian Corp, Cl A *		8,800		377
AppLovin Corp, Cl A *(A)		46,600		1,165
Arlo Technologies Inc *		21,752		210
Arrow Electronics Inc *		12,425		1,574
Arteris Inc *		1,100		8
Asana Inc, Cl A *		12,700		303
Aspen Technology Inc *		5,570		913
Atlassian Corp Ltd, Cl A *		29,741		5,377
Atomera Inc *(A)		3,500		32
AvePoint Inc *		32,500		215
Aviat Networks Inc *		2,100		64
Avid Technology Inc *		7,722		185
Avnet Inc		19,199		842
Axcelis Technologies Inc *		6,350		1,000
AXT Inc *		9,700		33
Badger Meter Inc		6,324		872
Belden Inc		9,023		789
Benchmark Electronics Inc		6,630		157
Bentley Systems Inc, Cl B		35,900		1,751
BigCommerce Holdings Inc *		14,700		117
BILL Holdings Inc *		20,577		2,131
Black Knight Inc *		31,537		1,822
Blackbaud Inc *		9,655		708
BlackLine Inc *		11,600		604
Blend Labs Inc, Cl A *(A)		48,100		48
Box Inc, Cl A *		27,500		775


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Brightcove Inc *		9,610	$	40
C3.ai Inc, Cl A *(A)		13,800		552
Calix Inc *		10,745		501
Cambium Networks Corp *		1,999		31
Casa Systems Inc *		2,800		3
CCC Intelligent Solutions Holdings Inc *		29,800		326
Cerence Inc *		8,510		243
CEVA Inc *		5,138		129
Ciena Corp *		29,786		1,392
Cipher Mining Inc *(A)		7,900		20
Cirrus Logic Inc *		11,595		901
Cleanspark Inc *		8,900		38
Clear Secure Inc, Cl A		11,800		292
Clearfield Inc *		2,600		102
Cloudflare Inc, Cl A *		58,600		4,053
Cognex Corp		36,516		2,007
Coherent Corp *		23,601		872
Cohu Inc *		8,336		320
CommScope Holding Co Inc *		46,000		191
CommVault Systems Inc *		9,284		647
Comtech Telecommunications Corp		5,832		67
Confluent Inc, Cl A *		26,100		828
Consensus Cloud Solutions Inc *		3,585		131
Corsair Gaming Inc *		6,200		122
Couchbase Inc *		7,800		160
Credo Technology Group Holding Ltd *		21,200		285
Crowdstrike Holdings Inc, Cl A *		44,121		7,065
CS Disco Inc *		5,000		41
CTS Corp		6,445		294
Cvent Holding Corp, Cl A *		10,600		90
Cyxtera Technologies Inc *		10,900		2
Datadog Inc, Cl A *		55,255		5,244
Dell Technologies Inc, Cl C		48,890		2,191
Diebold Nixdorf Inc *(A)		16,833		4
Digi International Inc *		7,601		273
Digimarc Corp *(A)		2,876		89
Digital Turbine Inc *		20,700		189
DigitalOcean Holdings Inc *(A)		14,500		568
Diodes Inc *		8,742		785
DocuSign Inc, Cl A *		41,480		2,339
Dolby Laboratories Inc, Cl A		12,804		1,057
Domo Inc, Cl B *		6,432		87
DoubleVerify Holdings Inc *		19,400		676
Dropbox Inc, Cl A *		54,400		1,252
Dynatrace Inc *		44,800		2,284
DZS Inc *		3,800		23
E2open Parent Holdings Inc *		46,500		233
Eastman Kodak Co *		9,600		48
Ebix Inc		5,725		114
Edgio Inc *		27,600		14
eGain Corp *		4,900		36
Elastic NV *		16,000		1,165


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Enfusion Inc, Cl A *		4,900	$	39
EngageSmart Inc *		8,200		156
Entegris Inc		30,930		3,255
Envestnet Inc *		10,652		557
ePlus Inc *		5,176		256
Everbridge Inc *		8,700		209
EverCommerce Inc *		7,100		84
Evolv Technologies Holdings Inc *		18,900		113
Extreme Networks Inc *		23,087		476
Fabrinet *		7,115		806
FARO Technologies Inc *		4,508		68
Fastly Inc, Cl A *		23,900		389
Five9 Inc *		14,100		932
Focus Universal Inc *(A)		6,000		10
ForgeRock Inc, Cl A *		7,100		143
FormFactor Inc *		14,919		467
GLOBALFOUNDRIES Inc *(A)		12,500		729
Globant SA *		8,500		1,562
GoDaddy Inc, Cl A *		31,745		2,329
Grid Dynamics Holdings Inc *		11,600		111
Guidewire Software Inc *		16,769		1,391
Hackett Group Inc/The		5,700		111
Harmonic Inc *		20,694		364
HubSpot Inc *		9,573		4,959
Ichor Holdings Ltd *		6,600		200
Identiv Inc *		4,400		32
Impinj Inc *		4,200		430
indie Semiconductor Inc, Cl A *		17,400		165
Infinera Corp *		41,084		201
Informatica Inc, Cl A *		7,200		127
Information Services Group Inc		8,000		41
Inseego Corp *		21,400		23
Insight Enterprises Inc *		6,398		865
Instructure Holdings Inc *		2,600		64
Intapp Inc *		2,200		93
InterDigital Inc		5,917		491
IonQ Inc *(A)		30,400		328
IPG Photonics Corp *		6,400		707
Itron Inc *		8,511		576
Jabil Inc		26,600		2,381
Jamf Holding Corp *		14,900		274
Kimball Electronics Inc *		5,693		141
Knowles Corp *		20,300		365
Kulicke & Soffa Industries Inc		11,900		629
Kyndryl Holdings Inc *		45,100		566
Lattice Semiconductor Corp *		28,362		2,306
Lightwave Logic Inc *(A)		27,900		207
Littelfuse Inc		4,831		1,237
LivePerson Inc *		14,991		55
LiveRamp Holdings Inc *		14,974		364
Lumentum Holdings Inc *		14,170		750


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
MACOM Technology Solutions Holdings Inc *		11,025	$	660
Manhattan Associates Inc *		12,980		2,355
Marathon Digital Holdings Inc *(A)		21,200		208
Marvell Technology Inc		175,812		10,283
Matterport Inc *		53,700		159
MaxLinear Inc, Cl A *		13,444		393
MeridianLink Inc *		5,300		103
Methode Electronics Inc		6,784		292
MicroStrategy Inc, Cl A *(A)		1,953		589
MicroVision Inc *(A)		35,100		165
Mirion Technologies Inc, Cl A *		33,400		264
Mitek Systems Inc *		9,100		95
MKS Instruments Inc		12,323		1,199
Model N Inc *		7,600		243
Momentive Global Inc *		29,200		276
MongoDB Inc, Cl A *		13,800		4,054
N-able Inc *		11,350		161
Napco Security Technologies Inc		6,500		242
National Instruments Corp		27,867		1,611
nCino Inc *(A)		15,400		423
NCR Corp *		27,083		642
NETGEAR Inc *		6,692		94
NetScout Systems Inc *		14,158		432
New Relic Inc *		11,700		824
NextNav Inc *(A)		3,100		8
nLight Inc *		10,600		153
Novanta Inc *		7,262		1,203
Nutanix Inc, Cl A *		46,200		1,368
Okta Inc, Cl A *		31,704		2,882
Olo Inc, Cl A *		22,100		152
ON24 Inc		6,100		49
OneSpan Inc *		7,554		114
Onto Innovation Inc *		9,972		1,070
OSI Systems Inc *		3,168		377
Ouster Inc *(A)		4,802		33
PagerDuty Inc *		18,415		501
Palantir Technologies Inc, Cl A *		384,000		5,649
Palo Alto Networks Inc *		61,455		13,114
PAR Technology Corp *		5,800		201
PC Connection Inc		2,231		100
PDF Solutions Inc *		6,753		285
Pegasystems Inc		7,436		360
Perficient Inc *		7,400		566
Photronics Inc *		13,129		279
Plexus Corp *		5,428		492
Porch Group Inc *		16,300		23
Power Integrations Inc		12,278		1,061
PowerSchool Holdings Inc, Cl A *		9,800		186
Procore Technologies Inc *		14,800		895
Progress Software Corp		8,458		507
PROS Holdings Inc *		9,399		285


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Pure Storage Inc, Cl A *		57,900	$	1,667
Q2 Holdings Inc *		12,500		364
Qualys Inc *		7,800		985
Rackspace Technology Inc *(A)		11,600		18
Rambus Inc *		21,210		1,357
Rapid7 Inc *		12,800		611
Ribbon Communications Inc *		13,520		38
Rimini Street Inc *		10,000		46
RingCentral Inc, Cl A *		16,600		576
Riot Platforms Inc *(A)		29,700		356
Rogers Corp *		3,993		629
Sanmina Corp *		11,966		635
Sapiens International Corp NV		7,000		174
ScanSource Inc *		5,796		167
SecureWorks Corp, Cl A *		2,000		16
Semtech Corp *		11,575		252
SentinelOne Inc, Cl A *		39,300		840
Silicon Laboratories Inc *		6,582		926
SiTime Corp *		3,300		327
SkyWater Technology Inc *		1,700		17
SMART Global Holdings Inc *		8,600		194
SmartRent Inc, Cl A *		30,500		110
Smartsheet Inc, Cl A *		25,200		1,249
Snowflake Inc, Cl A *		64,100		10,600
SolarWinds Corp *		7,850		73
SoundThinking Inc *		1,400		36
Splunk Inc *		33,722		3,348
Sprout Social Inc, Cl A *		8,800		381
SPS Commerce Inc *		7,258		1,131
Squarespace Inc *		7,700		226
Super Micro Computer Inc *		9,700		2,172
Synaptics Inc *		7,687		661
TD SYNNEX Corp		9,081		812
Telos Corp *		8,500		27
Tenable Holdings Inc *		21,800		894
Teradata Corp *		20,700		970
Terawulf Inc *(A)		14,200		21
Thoughtworks Holding Inc *		20,500		169
TTM Technologies Inc *		23,487		322
Tucows Inc, Cl A *(A)		2,200		68
Turtle Beach Corp *		4,000		46
Twilio Inc, Cl A *		35,242		2,454
Ubiquiti Inc		700		114
UiPath Inc, Cl A *		76,700		1,372
Ultra Clean Holdings Inc *		9,852		338
Unisys Corp *		15,183		60
Unity Software Inc *(A)		50,500		1,501
Universal Display Corp		9,351		1,378
Upland Software Inc *		5,700		16
Varonis Systems Inc, Cl B *		20,000		526
Veeco Instruments Inc *		11,010		269
Verint Systems Inc *		12,450		447


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Veritone Inc *(A)		5,500	$	22
Viant Technology Inc, Cl A *		2,600		12
Viasat Inc *		15,956		712
Viavi Solutions Inc *		48,000		472
Vishay Intertechnology Inc		26,217		676
Vishay Precision Group Inc *		3,164		110
VMware Inc, Cl A *		43,809		5,971
Vontier Corp		31,700		940
Weave Communications Inc *		1,000		8
Wix.com Ltd *		11,000		838
WM Technology Inc *		16,900		17
Wolfspeed Inc *		25,423		1,221
Workday Inc, Cl A *		41,066		8,706
Workiva Inc, Cl A *		9,700		940
Xerox Holdings Corp		25,200		355
Xperi Inc *		9,580		113
Yext Inc *		25,100		231
Zeta Global Holdings Corp, Cl A *		24,000		216
Zoom Video Communications Inc, Cl A *		50,921		3,418
Zscaler Inc *		17,100		2,317
Zuora Inc, Cl A *		26,300		284

				231,889
Materials — 4.3%
5E Advanced Materials Inc *(A)		8,300		24
AdvanSix Inc		5,900		194
Alcoa Corp		36,300		1,151
Alpha Metallurgical Resources Inc		3,100		418
Alto Ingredients Inc *		15,300		31
American Vanguard Corp		6,799		116
Amyris Inc *(A)		37,000		31
AptarGroup Inc		13,766		1,549
Arconic Corp *		21,100		610
Ardagh Metal Packaging SA		48,350		175
Ashland Inc		10,108		858
Aspen Aerogels Inc *		4,800		31
ATI Inc *		24,100		833
Avient Corp		19,132		698
Axalta Coating Systems Ltd *		47,300		1,372
Balchem Corp		6,188		765
Berry Global Group Inc		25,941		1,484
Cabot Corp		11,732		803
Carpenter Technology Corp		9,401		429
Century Aluminum Co *		12,297		96
Chase Corp		1,500		176
Chemours Co/The		32,200		853
Clearwater Paper Corp *		3,751		114
Cleveland-Cliffs Inc *		104,360		1,448
Coeur Mining Inc *		58,261		175
Commercial Metals Co		23,741		1,015
Compass Minerals International Inc		7,840		249
Constellium SE, Cl A *		29,100		434
Crown Holdings Inc		24,451		1,864


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Danimer Scientific Inc *		15,100	$	44
Diversey Holdings Ltd *(A)		19,500		162
Eagle Materials Inc		7,283		1,187
Ecovyst Inc *		21,200		213
Eightco Holdings Inc *		45		—
Element Solutions Inc		43,700		784
FutureFuel Corp		3,876		33
Ginkgo Bioworks Holdings Inc *(A)		191,900		303
Glatfelter Corp		10,271		29
Graphic Packaging Holding Co		65,117		1,556
Greif Inc, Cl A		4,419		266
Greif Inc, Cl B		1,300		91
Hawkins Inc		4,346		204
Haynes International Inc		2,823		123
HB Fuller Co		10,733		675
Hecla Mining Co		104,868		559
Huntsman Corp		39,624		941
Ingevity Corp *		7,900		373
Innospec Inc		5,413		500
Intrepid Potash Inc *		1,860		33
Ivanhoe Electric Inc / US *		9,500		119
Kaiser Aluminum Corp		2,754		166
Koppers Holdings Inc		4,473		130
Kronos Worldwide Inc		5,084		42
Livent Corp *		34,400		793
Louisiana-Pacific Corp		15,442		904
LSB Industries Inc *		18,300		170
Materion Corp		3,774		379
Mativ Holdings Inc		10,288		155
Minerals Technologies Inc		6,224		346
MP Materials Corp *		18,100		375
Myers Industries Inc		8,418		157
NewMarket Corp		1,197		467
Novagold Resources Inc *		42,600		219
O-I Glass Inc *		30,700		636
Olin Corp		24,816		1,174
Olympic Steel Inc		1,927		81
Origin Materials Inc *(A)		27,300		115
Orion Engineered Carbons SA		10,400		241
Pactiv Evergreen Inc		8,700		61
Perimeter Solutions SA *		19,200		104
Piedmont Lithium Inc *		3,100		170
PolyMet Mining Corp *(A)		6,200		8
PureCycle Technologies Inc *(A)		26,000		179
Quaker Chemical Corp		2,534		481
Ramaco Resources Inc		5,500		41
Ranpak Holdings Corp, Cl A *		8,300		26
Rayonier Advanced Materials Inc *		13,917		47
Reliance Steel & Aluminum Co		12,138		2,849
Royal Gold Inc		13,702		1,697
RPM International Inc		26,688		2,129
Ryerson Holding Corp		4,900		167


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Schnitzer Steel Industries Inc, Cl A		5,956	$	164
Scotts Miracle-Gro Co/The, Cl A		7,859		497
Sensient Technologies Corp		8,435		608
Silgan Holdings Inc		17,660		794
Sonoco Products Co		20,221		1,210
Southern Copper Corp		17,629		1,177
SSR Mining Inc		42,600		629
Stepan Co		3,925		361
Summit Materials Inc, Cl A *		23,465		742
SunCoke Energy Inc		18,646		127
Sylvamo Corp		7,000		276
TimkenSteel Corp *		10,104		172
Tredegar Corp		5,341		38
TriMas Corp		9,876		250
Trinseo PLC		8,900		111
Tronox Holdings PLC		25,800		274
United States Lime & Minerals Inc		400		73
United States Steel Corp		48,700		1,019
Valhi Inc		500		6
Warrior Met Coal Inc		11,700		383
Westlake Corp		7,010		729
Worthington Industries Inc		5,702		320

				50,660
Real Estate — 6.2%
Acadia Realty Trust ^‡		20,139		259
Agree Realty Corp ^‡		17,447		1,125
Alexander & Baldwin Inc ^‡		16,191		297
Alexander's Inc ^‡		488		80
American Assets Trust Inc ^‡		11,391		217
American Homes 4 Rent, Cl A ^‡		62,900		2,156
Americold Realty Trust Inc ^‡		55,000		1,612
Anywhere Real Estate Inc *		26,502		161
Apartment Income Corp ^‡		30,300		1,051
Apartment Investment and Management Co, Cl A ^‡		34,000		276
Apple Hospitality REIT Inc ^‡		43,400		631
Armada Hoffler Properties Inc ^‡		13,800		152
Ashford Hospitality Trust Inc *^‡		3,050		13
Bluerock Homes Trust Inc *^‡		887		14
Braemar Hotels & Resorts Inc ^‡		13,600		56
Brandywine Realty Trust ^‡		38,639		151
Brixmor Property Group Inc ^‡		61,800		1,238
Broadstone Net Lease Inc, Cl A ^‡		35,900		563
BRT Apartments Corp ^‡		2,400		44
CareTrust REIT Inc ^‡		18,353		356
CBL & Associates Properties Inc ^‡(A)		6,700		155
Centerspace ^‡		3,403		200
Chatham Lodging Trust ^‡		10,435		98
City Office Inc ^‡		11,000		50
Clipper Realty Inc ^‡		3,500		19
Community Healthcare Trust Inc ^‡		5,400		177
Compass Inc, Cl A *		63,100		233


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Corporate Office Properties Trust ^‡		22,430	$	512
Cousins Properties Inc ^‡		30,645		610
CTO Realty Growth Inc ^‡		4,254		68
CubeSmart ^‡		47,322		2,103
Cushman & Wakefield PLC *		28,400		225
DiamondRock Hospitality Co ^‡		37,807		297
DigitalBridge Group Inc		33,998		424
Diversified Healthcare Trust ^‡		55,107		75
Douglas Elliman Inc		15,445		45
Douglas Emmett Inc ^‡		35,585		413
Easterly Government Properties Inc, Cl A ^‡		19,500		271
EastGroup Properties Inc ^‡		8,285		1,364
Elme Communities ^‡		16,513		250
Empire State Realty Trust Inc, Cl A ^‡		33,000		204
EPR Properties ^‡		14,851		619
Equity Commonwealth ^‡		22,244		455
Equity LifeStyle Properties Inc ^‡		36,264		2,291
Essential Properties Realty Trust Inc ^‡		30,500		730
eXp World Holdings Inc (A)		13,900		214
Farmland Partners Inc ^‡		10,300		117
First Industrial Realty Trust Inc ^‡		28,153		1,463
Forestar Group Inc *		3,867		79
Four Corners Property Trust Inc ^‡		17,319		445
Franklin Street Properties Corp ^‡		27,996		40
FRP Holdings Inc *		1,438		76
Gaming and Leisure Properties Inc ^‡		51,531		2,481
Getty Realty Corp ^‡		9,189		315
Gladstone Commercial Corp ^‡		8,919		104
Gladstone Land Corp ^‡		7,000		111
Global Medical Inc ^‡		15,000		131
Global Net Lease Inc ^‡		24,033		231
Healthcare Realty Trust Inc, Cl A ^‡		76,705		1,427
Hersha Hospitality Trust, Cl A ^‡		9,019		52
Highwoods Properties Inc ^‡		21,868		452
Howard Hughes Corp/The *		7,517		561
Hudson Pacific Properties Inc ^‡		27,870		130
Independence Realty Trust Inc ^‡		48,601		839
Indus Realty Trust Inc ^‡		1,403		94
Industrial Logistics Properties Trust ^‡		15,409		28
Innovative Industrial Properties Inc, Cl A ^‡		5,800		383
InvenTrust Properties Corp ^‡		12,100		260
JBG SMITH Properties ^‡		21,900		310
Jones Lang LaSalle Inc *		9,647		1,354
Kennedy-Wilson Holdings Inc		21,529		332
Kilroy Realty Corp ^‡		23,943		650
Kite Realty Group Trust ^‡		47,121		916
Lamar Advertising Co, Cl A ^‡		18,197		1,636
Life Storage Inc ^‡		17,139		2,183
LTC Properties Inc ^‡		9,217		296
LXP Industrial Trust, Cl B ^‡		58,290		603
Macerich Co/The ^‡		48,445		467
Marcus & Millichap Inc		5,100		150


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Medical Properties Trust Inc ^‡(A)		123,562	$	1,019
National Health Investors Inc ^‡		8,464		441
National Storage Affiliates Trust ^‡		18,000		659
Necessity Retail REIT Inc/The ^‡		28,700		183
NETSTREIT Corp ^‡		9,200		161
Newmark Group Inc, Cl A		28,705		164
NexPoint Residential Trust Inc ^‡		4,900		201
NNN REIT Inc ^‡		36,543		1,555
Office Properties Income Trust ^‡		10,391		75
Omega Healthcare Investors Inc ^‡		49,057		1,462
One Liberty Properties Inc ^‡		3,662		73
Opendoor Technologies Inc *		103,100		272
Orion Office REIT Inc ^‡		11,900		66
Outfront Media Inc ^‡		26,909		385
Paramount Group Inc ^‡		42,000		182
Park Hotels & Resorts Inc ^‡		49,659		643
Pebblebrook Hotel Trust ^‡		23,625		320
Phillips Edison & Co Inc ^‡		22,800		661
Physicians Realty Trust ^‡		47,500		649
Piedmont Office Realty Trust Inc, Cl A ^‡		28,566		178
Plymouth Industrial Inc ^‡		7,000		153
Postal Realty Trust Inc, Cl A ^‡		2,600		38
PotlatchDeltic Corp ^‡		15,442		719
Rayonier Inc ^‡		31,353		919
RE/MAX Holdings Inc, Cl A		4,200		78
Redfin Corp *(A)		23,300		228
Retail Opportunity Investments Corp ^‡		26,759		326
Rexford Industrial Realty Inc ^‡		39,900		2,172
RLJ Lodging Trust ^‡		30,754		316
RMR Group Inc/The, Cl A		4,170		90
RPT Realty ^‡		18,837		176
Ryman Hospitality Properties Inc ^‡		11,460		1,051
Sabra Health Care Inc ^‡		46,120		519
Safehold Inc ^‡		8,527		220
Saul Centers Inc ^‡		2,644		89
Service Properties Trust ^‡		28,741		236
SITE Centers Corp ^‡		36,707		438
SL Green Realty Corp ^‡(A)		14,183		328
Spirit Realty Capital Inc ^‡		28,013		1,094
St Joe Co/The		7,300		340
STAG Industrial Inc ^‡		37,056		1,290
Star Holdings *^‡		2,282		35
Stratus Properties Inc		1,200		26
Summit Hotel Properties Inc ^‡		23,629		155
Sun Communities Inc ^‡		24,821		3,143
Sunstone Hotel Investors Inc ^‡		41,538		410
Tanger Factory Outlet Centers Inc ^‡		18,249		372
Tejon Ranch Co *		4,876		82
Terreno Realty Corp ^‡		15,763		967
UMH Properties Inc ^‡		9,500		144
Uniti Group Inc ^‡		53,860		200
Universal Health Realty Income Trust ^‡		3,116		136


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Urban Edge Properties ^‡		22,700	$	303
Urstadt Biddle Properties Inc, Cl A ^‡		6,156		119
Veris Residential Inc *^‡		19,767		319
Vornado Realty Trust ^‡		37,800		513
WeWork Inc, Cl A *(A)		32,800		6
Whitestone REIT, Cl B ^‡		12,377		109
WP Carey Inc ^‡		42,600		2,955
Xenia Hotels & Resorts Inc ^‡		25,700		299
Zillow Group Inc, Cl A *		10,891		488
Zillow Group Inc, Cl C *		31,897		1,455

				73,675
Utilities — 2.2%
ALLETE Inc		11,970		713
Altus Power Inc, Cl A *		9,800		47
American States Water Co		7,374		655
Artesian Resources Corp, Cl A		2,184		108
Avangrid Inc		14,250		535
Avista Corp		15,052		622
Black Hills Corp		13,202		805
Brookfield Infrastructure Corp, Cl A		21,050		970
Brookfield Renewable Corp, Cl A		27,716		931
California Water Service Group		12,041		685
Chesapeake Utilities Corp		3,815		487
Clearway Energy Inc, Cl A		7,800		214
Clearway Energy Inc, Cl C		16,800		483
Essential Utilities Inc		47,737		1,945
Global Water Resources Inc		2,800		33
Hawaiian Electric Industries Inc		21,158		760
IDACORP Inc		10,824		1,126
MGE Energy Inc		8,114		582
Middlesex Water Co		4,001		326
Montauk Renewables Inc *		11,500		80
National Fuel Gas Co		17,188		875
New Jersey Resources Corp		18,994		920
Northwest Natural Holding Co		7,076		302
NorthWestern Corp		12,346		699
OGE Energy Corp		40,776		1,439
ONE Gas Inc		10,900		882
Ormat Technologies Inc		10,734		913
Otter Tail Corp		8,546		634
PNM Resources Inc		16,517		758
Portland General Electric Co		19,300		941
Pure Cycle Corp *		5,900		57
SJW Group		4,964		380
Southwest Gas Holdings Inc		14,641		857
Spire Inc		10,803		698
Sunnova Energy International Inc *(A)		22,500		397
UGI Corp		42,796		1,197
Unitil Corp		3,558		187
Via Renewables Inc, Cl A		400		4
Vistra Corp		80,668		1,934


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
York Water Co/The		2,952	$	125

				26,306
Total Common Stock
(Cost $960,789) ($ Thousands)				1,189,999


		Number of Rights
RIGHTS — 0.0%
Pulse Biosciences Inc *^‡^‡		2,347		–
Tobira Therapeutics CVR, Expires 12/31/2028 *(B)		2,300		–
Total Rights
(Cost $—) ($ Thousands)				–


	Shares
AFFILIATED PARTNERSHIP — 3.0%
SEI Liquidity Fund, LP
5.010% **^†(C)		35,467,423		35,481


Total Affiliated Partnership
(Cost $35,468) ($ Thousands)				35,481



CASH EQUIVALENT — 0.4%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		4,902,391		4,902

Total Cash Equivalent
(Cost $4,902) ($ Thousands)				4,902


Total Investments in Securities — 103.0%
(Cost $1,001,159) ($ Thousands)			$	1,230,382

A list of the open futures contracts held by the Fund at May 31, 2023 is as follows:

Other Financial Instruments	Level 1 ($)			Level 2 ($)		Level 3 ($)⁽¹⁾		Total ($)
Futures Contracts*
Unrealized Depreciation		(249	)		–		–		(249	)
Total Other Financial Instruments		(249	)		–		–		(249	)

^ This category includes securities with a value of $—.

(1) A reconciliation of Level 3 instruments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to the net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

*	Futures contracts are valued at the unrealized depreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 98.0%

Communication Services — 2.7%
Altice USA Inc, Cl A *		19,500	$	50
AMC Networks Inc, Cl A *		9,100		103
Anterix Inc *		1,580		52
ATN International Inc		860		32
Bandwidth Inc, Cl A *		12,400		148
Cogent Communications Holdings Inc		2,450		151
EchoStar Corp, Cl A *		6,240		99
Eventbrite Inc, Cl A *		49,350		358
IDT Corp, Cl B *		7,240		220
Integral Ad Science Holding Corp *		25,237		477
Iridium Communications Inc		31,255		1,877
Liberty Latin America Ltd, Cl A *		31,466		230
Liberty Media Corp-Liberty Braves, Cl A *		2,060		77
Liberty Media Corp-Liberty Braves, Cl C *		4,252		156
Madison Square Garden Sports Corp, Cl A *		670		118
MediaAlpha Inc, Cl A *		8,730		77
Nexstar Media Group Inc, Cl A		3,600		543
Ooma Inc *		1,500		20
Playstudios Inc *		6,460		29
Playtika Holding Corp *		14,388		144
Thryv Holdings Inc *		15,210		354
United States Cellular Corp *		20,960		300
Vimeo Inc *		18,250		67

				5,682
Consumer Discretionary — 12.4%
2U Inc *		35,370		141
Aaron's Co Inc/The		43,188		529
Academy Sports & Outdoors Inc		7,972		390
American Axle & Manufacturing Holdings Inc *		29,100		196
AutoNation Inc *		1,610		211
Bally's Corp *		5,600		76


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Beazer Homes USA Inc *		24,491	$	496
Biglari Holdings Inc, Cl B *		918		189
BJ's Restaurants Inc *		8,040		239
Bloomin' Brands Inc		12,600		301
Bluegreen Vacations Holding Corp, Cl A		10,964		313
Boot Barn Holdings Inc *		2,235		151
Buckle Inc/The		2,612		80
Build-A-Bear Workshop Inc, Cl A *		13,860		252
Century Casinos Inc *		15,719		107
Chico's FAS Inc *		17,270		78
Chuy's Holdings Inc *		14,033		517
Cracker Barrel Old Country Store Inc		320		31
Crocs Inc *		3,100		348
Deckers Outdoor Corp *		350		166
Denny's Corp *		12,040		133
Destination XL Group Inc *		21,544		90
Dillard's Inc, Cl A		240		66
Dine Brands Global Inc		3,200		191
Dorman Products Inc *		1,350		111
Duolingo Inc, Cl A *		5,233		783
Ethan Allen Interiors Inc		17,850		447
Express Inc *(A)		76,000		43
First Watch Restaurant Group Inc *		25,015		442
Fox Factory Holding Corp *		7,540		670
Genesco Inc *		6,000		108
Gentex Corp		4,710		124
Gentherm Inc *		4,170		229
G-III Apparel Group Ltd *		14,600		235
Goodyear Tire & Rubber Co/The *		16,500		227
Graham Holdings Co, Cl B		195		110
Grand Canyon Education Inc *		1,520		159
Green Brick Partners Inc *		3,823		183
Group 1 Automotive Inc		2,750		615
H&R Block Inc		10,560		315
Haverty Furniture Cos Inc		24,729		653
Hibbett Inc		6,100		220
Inspired Entertainment Inc *		14,900		205
Latham Group Inc *		23,137		83
La-Z-Boy Inc, Cl Z		10,900		291
Lear Corp		1,710		210
Legacy Housing Corp *		15,730		300
Life Time Group Holdings Inc *		11,871		226
Lifetime Brands Inc		10,817		53
Lindblad Expeditions Holdings Inc *		12,068		114
M/I Homes Inc *		7,425		525
Marine Products Corp		6,268		96
MarineMax Inc *		2,700		77
Marriott Vacations Worldwide Corp		1,150		142
MasterCraft Boat Holdings Inc *		15,700		416
Meritage Homes Corp		5,039		581
Modine Manufacturing Co *		21,658		591
Monarch Casino & Resort Inc		2,413		157


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Monro Inc		70	$	3
Movado Group Inc		12,837		327
Murphy USA Inc		920		254
Nordstrom Inc (A)		11,100		170
ODP Corp/The *		7,730		310
Ollie's Bargain Outlet Holdings Inc *		1,600		88
OneSpaWorld Holdings Ltd *		20,794		217
Penske Automotive Group Inc		1,270		176
Perdoceo Education Corp *		27,069		319
PetMed Express Inc		1,760		26
Playa Hotels & Resorts NV *		12,700		113
PVH Corp		4,100		353
Qurate Retail Inc *		23,700		20
Red Robin Gourmet Burgers Inc *		13,503		171
Ruth's Hospitality Group Inc		24,197		519
Sally Beauty Holdings Inc *		20,200		227
Service Corp International/US		3,890		247
Shake Shack Inc, Cl A *		3,705		245
Shoe Carnival Inc		8,886		174
Signet Jewelers Ltd		4,900		311
Sonic Automotive Inc, Cl A		3,300		137
Standard Motor Products Inc		2,250		79
Sturm Ruger & Co Inc		1,210		62
Target Hospitality Corp *		4,020		57
Taylor Morrison Home Corp, Cl A *		5,429		230
Texas Roadhouse Inc, Cl A		11,871		1,281
Thor Industries Inc		3,300		258
Tri Pointe Homes Inc *		32,192		940
Tupperware Brands Corp *		9,000		8
Upbound Group Inc, Cl A		9,000		269
Urban Outfitters Inc *		7,464		230
Valvoline Inc		6,020		232
Wingstop Inc		1,605		320
Winmark Corp		553		180
Winnebago Industries Inc		5,300		295
WW International Inc *(A)		81,580		535
Wyndham Hotels & Resorts Inc		7,335		501
XPEL Inc *		2,200		152
Xponential Fitness Inc, Cl A *		39,400		1,044

				26,112
Consumer Staples — 5.8%
Albertsons Cos Inc, Cl A		7,500		153
Beauty Health Co/The *		11,605		93
BellRing Brands Inc *		8,320		305
BJ's Wholesale Club Holdings Inc *		7,540		472
Calavo Growers Inc		1,300		42
Cal-Maine Foods Inc		2,650		126
Casey's General Stores Inc		1,210		273
Celsius Holdings Inc *		2,595		326
Coca-Cola Consolidated Inc		298		197
Duckhorn Portfolio Inc/The *		36,522		476
elf Beauty Inc *		13,993		1,456


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Energizer Holdings Inc		8,500	$	277
Flowers Foods Inc		8,780		219
Fresh Del Monte Produce Inc		2,400		63
Fresh Mkt Inc *		194		—
Ingles Markets Inc, Cl A		10,400		835
Ingredion Inc		9,266		969
J & J Snack Foods Corp		830		128
John B Sanfilippo & Son Inc		3,271		380
Lamb Weston Holdings Inc		2,260		251
Lancaster Colony Corp		990		195
Mission Produce Inc *		3,270		40
Natural Grocers by Vitamin Cottage Inc		23,818		263
Nature's Sunshine Products Inc *		5,393		60
Pilgrim's Pride Corp *		2,900		64
Post Holdings Inc *		1,490		127
PriceSmart Inc		1,450		105
Primo Water Corp		8,770		113
Seaboard Corp		18		68
Seneca Foods Corp, Cl A *		850		39
Sovos Brands Inc *		24,655		468
SpartanNash Co		13,500		309
Sprouts Farmers Market Inc *		26,310		909
Tootsie Roll Industries Inc		1,266		50
TreeHouse Foods Inc *		16,925		802
Universal Corp/VA		2,200		114
USANA Health Sciences Inc *		880		53
Village Super Market Inc, Cl A		17,644		366
Vita Coco Co Inc/The *		31,308		835
Vital Farms Inc *		17,420		253
Weis Markets Inc		1,010		60

				12,334
Energy — 3.4%
Arch Resources Inc (A)		1,100		114
Ardmore Shipping Corp		1,610		19
Berry Corp		39,430		248
Borr Drilling Ltd *		22,461		154
Bristow Group Inc *		11,860		290
Cactus Inc, Cl A		4,075		129
California Resources Corp		6,700		251
Civitas Resources Inc		8,600		574
Comstock Resources Inc		17,900		167
DMC Global Inc *		13,966		226
Dorian LPG Ltd *		15,214		351
Excelerate Energy Inc, Cl A		3,610		67
Expro Group Holdings NV *		12,484		207
Helix Energy Solutions Group Inc *		30,040		189
Matador Resources Co		7,410		326
Oil States International Inc *		14,510		92
PBF Energy Inc, Cl A		3,700		136
PDC Energy Inc		10,100		693
REX American Resources Corp *		9,229		304
RPC Inc		65,410		435


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Select Water Solutions Inc, Cl A		16,020	$	116
SFL Corp Ltd		50,710		435
Solaris Oilfield Infrastructure Inc, Cl A		37,061		272
Southwestern Energy Co *		21,400		102
Talos Energy Inc *		5,930		73
Teekay Corp *		28,440		160
Teekay Tankers Ltd, Cl A		2,100		76
TETRA Technologies Inc *		19,640		51
VAALCO Energy Inc		103,010		398
W&T Offshore Inc *		18,700		72
World Fuel Services Corp		18,000		412

				7,139
Financials — 13.8%
1st Source Corp		3,718		153
AFC Gamma Inc ^‡		5,437		62
Amalgamated Financial Corp		5,466		78
A-Mark Precious Metals Inc		7,000		237
American Equity Investment Life Holding Co		6,100		241
American Financial Group Inc/OH		1,950		219
AMERISAFE Inc		1,750		89
Apollo Commercial Real Estate Finance Inc ^‡		18,100		183
Arbor Realty Trust Inc ^‡(A)		15,600		197
Arrow Financial Corp		3,141		57
AssetMark Financial Holdings Inc *		16,054		451
Associated Banc-Corp		30,700		455
Atlantic Union Bankshares Corp		12,200		312
Atlanticus Holdings Corp *		9,409		329
AvidXchange Holdings Inc *		8,200		79
Axis Capital Holdings Ltd		3,730		194
Banc of California Inc		14,100		151
Bank First Corp		400		30
Bank of NT Butterfield & Son Ltd/The		2,950		74
Brighthouse Financial Inc *		3,600		145
Brown & Brown Inc		1,640		102
Byline Bancorp Inc		5,500		97
Camden National Corp		6,500		192
Capital Bancorp Inc		4,901		83
Capital City Bank Group Inc		1,200		36
Carter Bankshares Inc *		8,621		122
Cass Information Systems Inc		6,960		269
Cathay General Bancorp		8,600		251
Cboe Global Markets Inc		2,200		291
Central Pacific Financial Corp		2,000		29
City Holding Co		770		66
Civista Bancshares Inc		16,440		246
CNB Financial Corp/PA		12,550		208
CNO Financial Group Inc		37,500		814
Coastal Financial Corp/WA *		8,070		276
Community Trust Bancorp Inc		10,200		344
Crawford & Co, Cl A		16,171		160
CrossFirst Bankshares Inc *		9,960		96


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Customers Bancorp Inc *		5,300	$	122
Diamond Hill Investment Group Inc		290		46
Dime Community Bancshares Inc		6,000		97
Donegal Group Inc, Cl A		1,510		22
Employers Holdings Inc		9,550		345
Enact Holdings Inc		2,110		51
Enova International Inc *		1,860		87
Enstar Group Ltd *		660		155
Enterprise Financial Services Corp		2,060		84
Equity Bancshares Inc, Cl A		1,500		33
Erie Indemnity Co, Cl A		1,010		216
Esquire Financial Holdings Inc		4,385		186
Essent Group Ltd		340		15
Everest Re Group Ltd		870		296
EVERTEC Inc		6,630		229
FactSet Research Systems Inc		565		217
Federal Agricultural Mortgage Corp, Cl C		550		74
Federated Hermes Inc, Cl B		7,900		272
Financial Institutions Inc		12,952		203
First American Financial Corp		3,100		170
First Busey Corp		9,500		178
First Business Financial Services Inc		9,400		252
First Commonwealth Financial Corp		12,500		158
First Community Bankshares Inc		8,890		237
First Financial Corp/IN		11,070		359
First Mid Bancshares Inc		1,000		24
FirstCash Holdings Inc		160		16
Flushing Financial Corp		15,600		182
Flywire Corp *		13,730		412
FNB Corp/PA		20,700		227
FS KKR Capital Corp		14,600		283
Fulton Financial Corp		15,700		175
Genworth Financial Inc, Cl A *		44,700		239
Globe Life Inc		350		36
Great Southern Bancorp Inc		4,800		233
Hamilton Lane Inc, Cl A		3,205		218
Hancock Whitney Corp		6,500		237
Hanmi Financial Corp		14,000		202
Hanover Insurance Group Inc/The		1,610		179
HBT Financial Inc		12,630		222
HCI Group Inc		1,000		53
Heritage Commerce Corp		19,606		143
HomeStreet Inc		8,400		44
HomeTrust Bancshares Inc		8,810		173
Hope Bancorp Inc		26,100		209
Horace Mann Educators Corp		2,470		74
I3 Verticals Inc, Cl A *		3,846		88
Independent Bank Corp/MI		25,570		418
International Money Express Inc *		12,774		298
Invesco Mortgage Capital Inc ^‡		7,650		81
Investors Title Co		90		12
James River Group Holdings Ltd		2,530		48


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kinsale Capital Group Inc		3,231	$	979
Macatawa Bank Corp		24,636		215
Mercantile Bank Corp		16,235		423
Merchants Bancorp/IN		10,870		248
Meridian Corp		11,600		112
Metrocity Bankshares Inc		3,336		55
Metropolitan Bank Holding Corp *		4,230		120
Mid Penn Bancorp Inc		7,270		161
MidCap Financial Investment Corp		21,366		249
Midland States Bancorp Inc		13,400		259
MidWestOne Financial Group Inc		1,000		19
National Western Life Group Inc, Cl A		400		149
New Mountain Finance Corp		20,100		241
New York Community Bancorp Inc		45,370		466
Northfield Bancorp Inc		1,100		11
Northrim BanCorp Inc		5,800		220
Oaktree Specialty Lending Corp		13,100		245
OceanFirst Financial Corp		3,590		51
OFG Bancorp		25,540		620
Old National Bancorp/IN		14,400		179
Old Republic International Corp		9,080		222
Old Second Bancorp Inc		15,420		183
Oppenheimer Holdings Inc, Cl A		6,418		252
Orrstown Financial Services Inc		6,848		124
Paysafe Ltd *		15,446		149
PCB Bancorp		10,100		142
Peapack-Gladstone Financial Corp		4,203		111
PennantPark Investment Corp		55,400		306
Peoples Bancorp Inc/OH		4,190		108
Peoples Financial Services Corp		2,923		116
PJT Partners Inc		1,950		131
Popular Inc		7,800		446
Preferred Bank/Los Angeles CA		920		42
Primis Financial Corp		6,000		44
ProAssurance Corp *		900		11
Prospect Capital Corp		20,300		125
Provident Bancorp Inc (A)		14,041		107
RBB Bancorp		4,935		52
Redwood Trust Inc ^‡		28,900		171
Regional Management Corp		20,465		535
Reinsurance Group of America Inc, Cl A		1,590		223
Remitly Global Inc *		16,683		306
RenaissanceRe Holdings Ltd		1,430		269
Republic Bancorp Inc/KY, Cl A		4,950		209
Rithm Capital Corp ^‡		31,400		256
RLI Corp		1,830		227
Ryan Specialty Holdings Inc, Cl A *		30		1
S&T Bancorp Inc		2,500		67
Safety Insurance Group Inc		970		71
Selective Insurance Group Inc		2,310		223
Selectquote Inc *		91,990		147
Sierra Bancorp		900		14


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Simmons First National Corp, Cl A		11,730	$	191
Sixth Street Specialty Lending Inc		6,200		113
SmartFinancial Inc		1,270		27
South Plains Financial Inc		900		20
Southern Missouri Bancorp Inc		2,812		104
Stellar Bancorp Inc		3,641		85
StepStone Group Inc, Cl A		6,610		142
Stifel Financial Corp		2,445		136
Summit Financial Group Inc		3,230		62
Synovus Financial Corp		5,800		157
Tompkins Financial Corp		890		47
Towne Bank/Portsmouth VA		10,010		233
TrustCo Bank Corp NY		1,420		39
United Fire Group Inc		1,640		35
Universal Insurance Holdings Inc		30,840		443
Univest Financial Corp		11,440		203
Washington Federal Inc		10,000		260
WesBanco Inc		8,300		200
Westamerica BanCorp		1,590		60
White Mountains Insurance Group Ltd		128		173

				29,190
Health Care — 18.4%
2seventy bio Inc *		6,450		77
89bio Inc *(A)		11,328		206
AbCellera Biologics Inc *		11,300		79
Acadia Healthcare Co Inc *		4,015		284
Aclaris Therapeutics Inc *		17,330		145
Addus HomeCare Corp *		910		82
ADMA Biologics Inc *		46,529		189
Agenus Inc *		65,434		102
Agios Pharmaceuticals Inc *		3,180		80
Akero Therapeutics Inc *		4,544		203
Alkermes PLC *		7,590		220
Allogene Therapeutics Inc *		9,240		48
Alphatec Holdings Inc *		10,670		162
ALX Oncology Holdings Inc *		33,436		223
AMN Healthcare Services Inc *		7,660		727
Amneal Pharmaceuticals Inc *		39,390		92
Amphastar Pharmaceuticals Inc *		4,250		189
AnaptysBio Inc *		4,956		95
ANI Pharmaceuticals Inc *		8,418		380
Anika Therapeutics Inc *		1,170		32
Apellis Pharmaceuticals Inc *		8,832		758
Arcellx Inc *		6,951		307
Arcturus Therapeutics Holdings Inc *		4,500		123
Arcutis Biotherapeutics Inc *		17,130		129
Assertio Holdings Inc *(A)		31,005		196
Atrion Corp		90		47
Aura Biosciences Inc *		2,040		23
Avanos Medical Inc *		2,730		67
Axogen Inc *		15,052		128
BioLife Solutions Inc *		7,420		173


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Biomea Fusion Inc *(A)		7,690	$	261
Bluebird Bio Inc *		22,420		75
Bridgebio Pharma Inc *		13,916		191
Brookdale Senior Living Inc, Cl A *		57,249		197
CareDx Inc *		22,760		182
Cassava Sciences Inc *		2,330		53
Castle Biosciences Inc *		4,480		109
Charles River Laboratories International Inc *		472		91
Chemed Corp		496		265
Chinook Therapeutics Inc *		3,190		77
Coherus Biosciences Inc *		11,620		48
Collegium Pharmaceutical Inc *		11,980		264
Community Health Systems Inc *		27,520		90
Computer Programs and Systems Inc *		15,110		361
Corcept Therapeutics Inc *		4,500		106
CorVel Corp *		1,760		344
Crinetics Pharmaceuticals Inc *		3,340		73
Cullinan Oncology Inc *		2,500		26
Cymabay Therapeutics Inc *		18,059		162
Day One Biopharmaceuticals Inc *		1,900		25
Deciphera Pharmaceuticals Inc *		3,510		47
DICE Therapeutics Inc *		5,704		180
Eagle Pharmaceuticals Inc/DE *		24,180		502
Edgewise Therapeutics Inc *		3,380		34
Emergent BioSolutions Inc *		10,170		87
Enanta Pharmaceuticals Inc *		1,450		34
Encompass Health Corp		3,940		244
Ensign Group Inc/The		14,462		1,281
Evolent Health Inc, Cl A *		21,370		623
Exelixis Inc *		15,760		304
EyePoint Pharmaceuticals Inc *		7,085		43
Generation Bio Co *		15,421		54
Gossamer Bio Inc *		50,080		67
Haemonetics Corp *		2,240		189
Halozyme Therapeutics Inc *		5,675		184
Harmony Biosciences Holdings Inc *		1,230		43
Harrow Health Inc *		7,735		146
HealthStream Inc		21,106		486
Henry Schein Inc *		3,280		242
Heron Therapeutics Inc *(A)		104,145		119
ImmunoGen Inc *		16,201		221
Innoviva Inc *		18,807		254
Inspire Medical Systems Inc *		5,878		1,719
Intra-Cellular Therapies Inc *		5,097		303
Invitae Corp *(A)		84,407		90
Ionis Pharmaceuticals Inc *		3,460		142
iRadimed Corp *		10,593		498
Ironwood Pharmaceuticals Inc, Cl A *		68,700		747
iTeos Therapeutics Inc *		24,421		398
Jazz Pharmaceuticals PLC *		1,710		219
KalVista Pharmaceuticals Inc *		16,850		164


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kiniksa Pharmaceuticals Ltd, Cl A *		35,846	$	497
Kodiak Sciences Inc *		35,140		208
Krystal Biotech Inc *		3,406		401
Kura Oncology Inc *		3,600		48
Lantheus Holdings Inc *		14,809		1,282
LeMaitre Vascular Inc		4,446		279
Ligand Pharmaceuticals Inc *		940		66
Liquidia Corp *		3,820		31
Madrigal Pharmaceuticals Inc *		1,184		330
Medpace Holdings Inc *		1,450		300
Merit Medical Systems Inc *		18,710		1,542
Mersana Therapeutics Inc *		14,210		107
MiNK Therapeutics Inc *		948		2
Mirum Pharmaceuticals Inc *		13,040		342
Morphic Holding Inc *		5,988		344
National HealthCare Corp		1,250		76
National Research Corp, Cl A		1,020		46
NeoGenomics Inc *		11,180		192
Neurocrine Biosciences Inc *		1,350		121
NextGen Healthcare Inc *		6,000		93
Nurix Therapeutics Inc *		21,950		222
OptimizeRx Corp *		5,630		79
Option Care Health Inc *		17,500		482
OraSure Technologies Inc *		66,950		337
Organogenesis Holdings Inc, Cl A *		116,878		424
Organon & Co		16,400		318
Orthofix Medical Inc *		7,330		137
Pennant Group Inc/The *		11,470		138
Penumbra Inc *		611		188
Perrigo Co PLC		5,920		189
PetIQ Inc, Cl A *		7,810		99
Phibro Animal Health Corp, Cl A		3,100		41
PMV Pharmaceuticals Inc *		13,400		72
Point Biopharma Global Inc, Cl A *		5,950		55
Praxis Precision Medicines Inc *		62,234		53
Precigen Inc *(A)		87,253		104
Premier Inc, Cl A		5,520		138
Prestige Consumer Healthcare Inc *		9,850		564
Privia Health Group Inc *		3,130		78
Protagonist Therapeutics Inc *		16,789		438
Prothena Corp PLC *		4,040		268
PTC Therapeutics Inc *		290		12
QIAGEN NV *		2,850		129
Quanterix Corp *		8,751		172
QuidelOrtho Corp *		2,400		204
RadNet Inc *		8,670		251
RAPT Therapeutics Inc *		10,601		212
REGENXBIO Inc *		2,550		44
Revance Therapeutics Inc *		6,850		209
Rigel Pharmaceuticals Inc *		85,235		119
RxSight Inc *		9,603		234
Sana Biotechnology Inc *(A)		31,240		188


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sarepta Therapeutics Inc *		290	$	36
Schrodinger Inc/United States *		5,604		187
Select Medical Holdings Corp		14,000		383
Semler Scientific Inc *		5,200		143
Shockwave Medical Inc *		4,615		1,270
SI-BONE Inc *		9,373		236
SIGA Technologies Inc *		74,630		419
Simulations Plus Inc		2,610		115
Stoke Therapeutics Inc *		11,046		124
Supernus Pharmaceuticals Inc *		7,810		259
Surmodics Inc *		3,250		60
Sutro Biopharma Inc *		13,078		59
Syndax Pharmaceuticals Inc *		6,315		126
Tactile Systems Technology Inc *		21,337		448
Tenet Healthcare Corp *		3,200		228
TG Therapeutics Inc *		7,861		209
Theravance Biopharma Inc *		4,530		51
TransMedics Group Inc *		8,543		621
Travere Therapeutics Inc *		3,570		64
Treace Medical Concepts Inc *		8,148		217
UFP Technologies Inc *		3,007		465
United Therapeutics Corp *		3,370		707
Utah Medical Products Inc		1,500		140
Vanda Pharmaceuticals Inc *		65,260		388
Varex Imaging Corp *		2,570		57
Vaxcyte Inc *		5,527		274
Ventyx Biosciences Inc *		1,380		48
ViewRay Inc *		22,843		13
Viking Therapeutics Inc *		9,759		214
Voyager Therapeutics Inc *		16,706		190
Xencor Inc *		3,280		89
Y-mAbs Therapeutics Inc *		48,440		394

				38,969
Industrials — 17.3%
AAON Inc		2,627		228
AAR Corp *		2,130		107
ACCO Brands Corp		49,600		240
Acuity Brands Inc		1,180		178
ACV Auctions Inc, Cl A *		13,809		235
AerSale Corp *		1,840		28
AGCO Corp		1,750		193
Alamo Group Inc		890		148
Alaska Air Group Inc *		6,400		288
Allison Transmission Holdings Inc, Cl A		3,900		184
American Woodmark Corp *		3,200		190
Apogee Enterprises Inc		7,330		271
Applied Industrial Technologies Inc		1,890		232
ArcBest Corp		7,300		612
Argan Inc		2,750		111
Astronics Corp *		29,066		462
Atkore Inc *		6,600		771
Barrett Business Services Inc		4,615		388


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Blue Bird Corp *		7,765	$	197
Boise Cascade Co		570		41
Brady Corp, Cl A		750		36
BrightView Holdings Inc *		17,900		118
BWX Technologies Inc		3,480		210
CACI International Inc, Cl A *		840		251
Casella Waste Systems Inc, Cl A *		5,878		530
CBIZ Inc *		3,210		162
Cimpress PLC *		4,294		205
CIRCOR International Inc *		9,890		287
Clean Harbors Inc *		3,127		439
Columbus McKinnon Corp/NY		3,723		136
Comfort Systems USA Inc		1,634		242
CoreCivic Inc *^‡		22,000		190
Costamare Inc		17,413		134
Covenant Logistics Group Inc, Cl A		1,000		38
CRA International Inc		720		67
Crane Co		6,795		494
Crane NXT Co		10,310		543
CSG Systems International Inc		5,670		272
Curtiss-Wright Corp		1,350		213
Daseke Inc *		52,091		313
Deluxe Corp		7,700		117
Distribution Solutions Group Inc *		2,270		102
Donaldson Co Inc		3,810		223
Ducommun Inc *		4,406		180
DXP Enterprises Inc/TX *		9,687		310
EMCOR Group Inc		4,621		762
EnerSys		2,403		234
Ennis Inc		35,135		681
ExlService Holdings Inc *		570		86
Exponent Inc		10,835		989
Federal Signal Corp		19,179		1,016
First Advantage Corp *		6,220		84
Forrester Research Inc *		4,651		133
Forward Air Corp		1,110		108
Franklin Covey Co *		9,879		365
Franklin Electric Co Inc		890		81
FTAI Aviation Ltd		8,392		235
FTI Consulting Inc *		6,617		1,244
Genco Shipping & Trading Ltd		4,068		50
Genpact Ltd		5,480		202
Global Industrial Co		1,220		30
GMS Inc *		4,400		279
GXO Logistics Inc *		4,005		224
Heartland Express Inc		16,790		262
Heidrick & Struggles International Inc		8,827		214
Heritage-Crystal Clean Inc *		15,457		513
Hub Group Inc, Cl A *		2,250		165
Hubbell Inc, Cl B		1,130		319
Hudson Technologies Inc *		41,810		365
Huntington Ingalls Industries Inc		1,150		232


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hyster-Yale Materials Handling Inc		7,745	$	362
IBEX Holdings Ltd *		14,566		298
Interface Inc, Cl A		16,600		115
KBR Inc		3,858		228
Kelly Services Inc, Cl A		10,500		184
Kforce Inc		2,050		118
Landstar System Inc		1,520		267
Legalzoom.com Inc *		18,804		210
Lincoln Electric Holdings Inc		1,020		173
Luxfer Holdings PLC		2,370		34
Manitowoc Co Inc/The *		30,193		433
Marten Transport Ltd		5,800		123
MasTec Inc *		1,574		160
Matson Inc		3,600		246
Matthews International Corp, Cl A		2,120		82
McGrath RentCorp		300		27
MDU Resources Group Inc		6,500		190
Mercury Systems Inc *		5,565		226
Miller Industries Inc/TN		1,000		33
Moog Inc, Cl A		1,540		150
MSA Safety Inc		1,530		210
Mueller Industries Inc		12,360		918
MYR Group Inc *		6,004		765
National Presto Industries Inc		490		37
NEXTracker Inc, Cl A *		5,182		198
NV5 Global Inc *		2,610		236
Owens Corning		2,087		222
PAM Transportation Services Inc *		10,715		280
Pangaea Logistics Solutions Ltd		28,000		161
Park Aerospace Corp		2,600		34
Park-Ohio Holdings Corp		7,900		125
Parsons Corp *		2,150		96
Powell Industries Inc		13,256		762
Preformed Line Products Co		230		35
Primoris Services Corp		13,600		364
Quad/Graphics Inc, Cl A *		21,039		69
Radiant Logistics Inc *		59,794		374
RBC Bearings Inc *		2,532		502
Resources Connection Inc		5,100		78
REV Group Inc		10,380		105
Rush Enterprises Inc, Cl A		3,200		167
Ryder System Inc		4,100		323
Safe Bulkers Inc		54,536		173
Schneider National Inc, Cl B		4,600		119
Science Applications International Corp		2,440		237
Simpson Manufacturing Co Inc		9,291		1,098
Snap-on Inc		70		17
SP Plus Corp *		9,018		328
Standex International Corp		1,020		139
Steelcase Inc, Cl A		73,670		478
Sterling Infrastructure Inc *		10,137		467
Sun Country Airlines Holdings Inc *		19,767		372


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Tennant Co		1,010	$	74
Tetra Tech Inc		1,710		235
Textron Inc		4,030		249
Thermon Group Holdings Inc *		10,800		248
Titan Machinery Inc *		2,533		64
Triton International Ltd		5,900		488
UFP Industries Inc		2,820		220
UniFirst Corp/MA		810		139
Universal Logistics Holdings Inc		11,000		292
V2X Inc *		5,872		242
Vertiv Holdings Co, Cl A		12,351		238
Vicor Corp *		3,585		198
Wabash National Corp		13,147		308
Werner Enterprises Inc		7,240		318
WillScot Mobile Mini Holdings Corp, Cl A *		7,420		320

				36,570
Information Technology — 15.1%
8x8 Inc *		125,300		511
A10 Networks Inc		21,320		317
ACM Research Inc, Cl A *		26,670		270
Aehr Test Systems *		17,734		586
Agilysys Inc *		7,585		564
Alkami Technology Inc *		21,384		321
Altair Engineering Inc, Cl A *		17,883		1,311
Amdocs Ltd		3,300		311
American Software Inc/GA, Cl A		31,046		395
Amkor Technology Inc		28,100		696
Amplitude Inc, Cl A *		8,410		82
Applied Digital Corp *(A)		33,813		283
AppLovin Corp, Cl A *		7,422		186
Arlo Technologies Inc *		57,579		557
Arrow Electronics Inc *		840		106
Aviat Networks Inc *		14,180		434
Avnet Inc		9,600		421
Axcelis Technologies Inc *		2,016		318
AXT Inc *		19,958		68
Badger Meter Inc		2,526		348
Bel Fuse Inc, Cl B		11,638		573
Belden Inc		2,598		227
Blackbaud Inc *		2,470		181
C3.ai Inc, Cl A *(A)		7,421		297
Cambium Networks Corp *		4,040		63
CCC Intelligent Solutions Holdings Inc *		28,018		307
Cirrus Logic Inc *		5,880		457
CommVault Systems Inc *		2,500		174
Confluent Inc, Cl A *		7,629		242
Couchbase Inc *		10,579		217
CTS Corp		2,080		95
Diodes Inc *		4,190		376
Dolby Laboratories Inc, Cl A		260		21
DoubleVerify Holdings Inc, Cl Rights *		7,183		251
eGain Corp *		27,071		196


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ePlus Inc *		1,770	$	87
Evolv Technologies Holdings Inc *		38,427		229
Extreme Networks Inc *		12,621		260
F5 Inc *		1,750		258
Grid Dynamics Holdings Inc *		19,190		184
Hackett Group Inc/The		25,985		504
Harmonic Inc *		14,348		253
Immersion Corp		23,900		169
Impinj Inc *		3,004		307
Information Services Group Inc		29,800		152
Insight Enterprises Inc *		1,590		215
Intapp Inc *		4,025		170
InterDigital Inc		2,853		237
IonQ Inc *(A)		23,249		251
Itron Inc *		3,603		244
Kimball Electronics Inc *		14,230		353
Littelfuse Inc		560		143
Manhattan Associates Inc *		1,760		319
MeridianLink Inc *		2,040		40
Methode Electronics Inc		2,640		114
Mitek Systems Inc *		5,894		61
Model N Inc *		2,420		77
N-able Inc *		14,510		206
Napco Security Technologies Inc		18,699		695
NetScout Systems Inc *		3,980		121
Nova Ltd *		8,590		928
Novanta Inc *		3,965		657
Olo Inc, Cl A *		13,130		90
Onto Innovation Inc *		3,248		349
OSI Systems Inc *		2,990		356
PagerDuty Inc *		4,250		116
PC Connection Inc		11,945		537
Photronics Inc *		17,024		361
Porch Group Inc *(A)		64,920		92
Power Integrations Inc		1,490		129
Progress Software Corp		3,350		201
PTC Inc *		2,100		282
Qualys Inc *		1,700		215
Rambus Inc *		25,007		1,599
Ribbon Communications Inc *		41,310		115
Sanmina Corp *		9,710		515
Sapiens International Corp NV		2,500		62
ScanSource Inc *		11,390		328
Silicon Laboratories Inc *		3,824		538
SMART Global Holdings Inc *		22,274		503
SolarWinds Corp *		5,780		54
Sprout Social Inc, Cl A *		6,485		281
SPS Commerce Inc *		8,945		1,394
Super Micro Computer Inc *		5,390		1,207
Teradata Corp *		5,275		247
TTM Technologies Inc *		12,536		172
UiPath Inc, Cl A *		12,235		219


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Unisys Corp *		13,010	$	51
Universal Display Corp		1,514		223
Veeco Instruments Inc *		12,971		317
Vertex Inc, Cl A *		11,116		244
Vishay Intertechnology Inc		32,195		830
Vishay Precision Group Inc *		23,055		805
Zeta Global Holdings Corp, Cl A *		54,075		488

				31,916
Materials — 3.9%
AdvanSix Inc		8,500		280
Aspen Aerogels Inc *		13,950		92
Avery Dennison Corp		1,550		250
Balchem Corp		1,650		204
Carpenter Technology Corp		3,510		160
Chase Corp		2,971		349
Clearwater Paper Corp *		15,620		475
Commercial Metals Co		20,700		885
Diversey Holdings Ltd *(A)		10,498		87
Eagle Materials Inc		1,403		229
Ecovyst Inc *		23,440		235
Greif Inc, Cl A		9,500		571
Hawkins Inc		2,500		117
Haynes International Inc		9,663		420
Koppers Holdings Inc		10,300		298
NewMarket Corp		400		156
Novagold Resources Inc *		20,600		106
O-I Glass Inc, Cl I *		32,414		672
Olympic Steel Inc		7,807		327
Packaging Corp of America		2,060		256
Reliance Steel & Aluminum Co		1,270		298
Royal Gold Inc		2,280		282
Ryerson Holding Corp		6,740		229
Silgan Holdings Inc		7,980		359
Sonoco Products Co		3,680		220
SSR Mining Inc		11,920		176
Stepan Co		1,000		92
SunCoke Energy Inc		29,290		199
Tredegar Corp		25,070		176
Tronox Holdings PLC		11,600		123
United States Lime & Minerals Inc		110		20

				8,343
Real Estate — 3.4%
Alexander & Baldwin Inc ^‡		4,810		88
Alexander's Inc ^‡		170		28
American Assets Trust Inc ^‡		8,800		168
Apple Hospitality REIT Inc ^‡		30,360		441
Armada Hoffler Properties Inc ^‡		5,080		56
Ashford Hospitality Trust Inc *^‡		21,555		89
Camden Property Trust ^‡		780		82
Centerspace ^‡		1,050		62
Community Healthcare Trust Inc ^‡		1,900		62


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
CTO Realty Growth Inc ^‡		1,700	$	27
EastGroup Properties Inc ^‡		1,360		224
Elme Communities ^‡		1,550		23
EPR Properties ^‡		9,700		405
Equity Commonwealth *^‡		6,190		127
Equity LifeStyle Properties Inc ^‡		3,290		208
Farmland Partners Inc ^‡		7,970		90
First Industrial Realty Trust Inc ^‡		3,850		200
Forestar Group Inc *		13,517		275
Franklin Street Properties Corp ^‡		27,400		39
FRP Holdings Inc *		450		24
Gaming and Leisure Properties Inc ^‡		1,160		56
Getty Realty Corp ^‡		3,800		130
Gladstone Commercial Corp ^‡		10,600		124
Global Net Lease Inc ^‡		18,300		176
Hersha Hospitality Trust, Cl A ^‡		10,380		60
Industrial Logistics Properties Trust ^‡		99,543		180
Innovative Industrial Properties Inc, Cl A ^‡		1,800		119
Kite Realty Group Trust ^‡		33,500		651
Life Storage Inc ^‡		680		87
LTC Properties Inc ^‡		2,510		81
Marcus & Millichap Inc		1,800		53
Necessity Retail REIT Inc/The ^‡		29,100		186
NNN REIT Inc ^‡		4,310		183
Office Properties Income Trust ^‡		13,400		97
One Liberty Properties Inc ^‡		1,500		30
Piedmont Office Realty Trust Inc, Cl A ^‡		22,800		142
Plymouth Industrial REIT Inc ^‡		2,800		61
PotlatchDeltic Corp ^‡		850		40
Regency Centers Corp ^‡		1,700		96
RLJ Lodging Trust ^‡		24,400		251
RMR Group Inc/The, Cl A		5,680		122
Sabra Health Care REIT Inc ^‡		34,700		391
Saul Centers Inc ^‡		950		32
Service Properties Trust ^‡		21,900		180
Tanger Factory Outlet Centers Inc ^‡		22,800		464
Terreno Realty Corp ^‡		1,940		119
Uniti Group Inc ^‡		34,365		128
Universal Health Realty Income Trust ^‡		2,360		103
Urstadt Biddle Properties Inc, Cl A ^‡		2,550		49

				7,109
Utilities — 1.8%
ALLETE Inc		3,000		179
American States Water Co		2,070		184
Artesian Resources Corp, Cl A		1,000		49
Avista Corp		3,680		152
Black Hills Corp		3,310		202
Brookfield Infrastructure Corp, Cl A		200		9
California Water Service Group		3,040		173
Chesapeake Utilities Corp		1,260		161
Hawaiian Electric Industries Inc		5,570		200
IDACORP Inc		2,170		226


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
MGE Energy Inc		2,090	$	150
Middlesex Water Co		400		33
National Fuel Gas Co		8,800		448
New Jersey Resources Corp		4,430		215
NiSource Inc		4,760		128
Northwest Natural Holding Co		2,330		99
NorthWestern Corp		3,070		174
OGE Energy Corp		1,240		44
ONE Gas Inc		2,630		213
Ormat Technologies Inc		1,940		165
Otter Tail Corp		2,350		174
Portland General Electric Co		4,660		227
Unitil Corp		2,150		113
York Water Co/The		1,600		68

				3,786
Total Common Stock
(Cost $198,204) ($ Thousands)				207,150


		Number of Rights
RIGHTS — 0.0%
Distribution Solutions Group Inc, Expires 06/02/2023 *		1,411		–
Total Rights
(Cost $—) ($ Thousands)				–


	Shares
AFFILIATED PARTNERSHIP — 1.6%
SEI Liquidity Fund, LP
5.010% **^†(B)		3,433,072		3,434


Total Affiliated Partnership
(Cost $3,433) ($ Thousands)				3,434



CASH EQUIVALENT — 2.2%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		4,697,964		4,698

Total Cash Equivalent
(Cost $4,698) ($ Thousands)				4,698


Total Investments in Securities — 101.8%
(Cost $206,335) ($ Thousands)			$	215,282

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

207,150

–

207,150

Right

–

Affiliated Partnership

–

3,434

–

3,434

Cash Equivalent

4,698

–

4,698

Total Investments in Securities

211,848

3,434

–

215,282

^ Securities market value less than $500.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 96.4%

Communication Services — 3.9%
Angi, Cl A *		11,403	$	35
Anterix Inc *		1,620		53
Bandwidth Inc, Cl A *		12,740		152
Cable One Inc		889		544
Cargurus Inc, Cl A *		22,378		420
Cinemark Holdings Inc *		116,113		1,859
Cogent Communications Holdings Inc		9,603		591
EchoStar Corp, Cl A *		3,970		63
Eventbrite Inc, Cl A *		50,990		370
IDT Corp, Cl B *		6,290		191
Integral Ad Science Holding Corp *		24,963		472
Iridium Communications Inc		5,512		331
Liberty Latin America Ltd, Cl A *		32,524		238
Liberty Media Corp-Liberty Braves, Cl A *		1,991		74
Liberty Media Corp-Liberty Braves, Cl C *		4,108		151
Lions Gate Entertainment Corp, Cl A *		81,622		841
MediaAlpha Inc, Cl A *		8,970		79
Nexstar Media Group Inc, Cl A		3,612		545
Reservoir Media Inc *		17,014		111
Shutterstock Inc		11,094		552
TechTarget Inc *		5,085		177
TEGNA Inc		18,209		282
Thryv Holdings Inc *		15,820		368
United States Cellular Corp *		21,630		309
Vimeo Inc *		18,870		69
Ziff Davis Inc *		7,214		426
ZipRecruiter Inc, Cl A *		21,209		328

				9,631
Consumer Discretionary — 12.5%
2U Inc *		36,570		146


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Aaron's Co Inc/The		36,385	$	445
Academy Sports & Outdoors Inc		1,100		54
American Eagle Outfitters Inc		30,696		312
Atmus Filtration Technologies *		9,327		193
Bally's Corp *		5,810		79
Beazer Homes USA Inc *		25,289		513
Biglari Holdings Inc, Cl B *		942		194
BJ's Restaurants Inc *		8,320		248
Bloomin' Brands Inc		78,105		1,866
Bluegreen Vacations Holding Corp, Cl A		11,323		324
Brinker International Inc *		55,661		2,036
Brunswick Corp/DE		8,829		667
Buckle Inc/The		2,659		82
Build-A-Bear Workshop Inc, Cl A		14,350		261
Canada Goose Holdings Inc *(A)		9,665		154
Carter's Inc		10,459		650
Century Casinos Inc *		16,241		110
Cheesecake Factory Inc/The		11,069		347
Chico's FAS Inc *		17,870		81
Churchill Downs Inc		6,010		816
Chuy's Holdings Inc *		14,480		533
Clarus Corp		12,773		106
Deckers Outdoor Corp *		338		160
Denny's Corp *		12,450		138
Destination XL Group Inc *		22,252		93
Domino's Pizza Inc		1,777		515
Dorman Products Inc *		6,721		551
Duolingo Inc, Cl A *		1,742		261
Ethan Allen Interiors Inc		18,480		463
Everi Holdings Inc *		18,295		254
Express Inc *(A)		78,560		45
Farfetch Ltd, Cl A *		17,370		86
First Watch Restaurant Group Inc *		25,858		456
Frontdoor Inc *		5,952		183
Goodyear Tire & Rubber Co/The *		22,808		313
Grand Canyon Education Inc *		1,670		175
Green Brick Partners Inc *		3,694		177
Hanesbrands Inc		16,679		68
Haverty Furniture Cos Inc		10,859		287
Inspired Entertainment Inc *		15,350		211
Latham Group Inc *		23,919		86
Legacy Housing Corp *		16,286		310
Life Time Group Holdings Inc *		11,470		218
Lifetime Brands Inc		11,223		55
Lindblad Expeditions Holdings Inc *		12,411		118
M/I Homes Inc *		3,212		227
Marine Products Corp		6,456		99
MarineMax Inc *		2,780		79
MasterCraft Boat Holdings Inc *		16,180		429
Meritage Homes Corp		1,777		205
Modine Manufacturing Co *		44,252		1,208
Monarch Casino & Resort Inc		2,500		162


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Monro Inc		11,496	$	476
Movado Group Inc		13,256		337
Murphy USA Inc		4,017		1,110
National Vision Holdings Inc *		5,850		148
NEOGAMES SA *		10,398		284
OneSpaWorld Holdings Ltd *		21,544		225
Oxford Industries Inc		2,962		296
PlayAGS Inc *		39,163		209
Pool Corp		1,720		544
Red Robin Gourmet Burgers Inc *		13,026		165
Ruth's Hospitality Group Inc		24,989		535
Sally Beauty Holdings Inc *		19,500		220
Shake Shack Inc, Cl A *		3,580		237
Shoe Carnival Inc		6,638		130
Skechers USA Inc, Cl A *		6,680		343
Steven Madden Ltd		15,010		468
Stoneridge Inc *		15,432		252
Target Hospitality Corp *		4,180		59
Taylor Morrison Home Corp, Cl A *		5,245		222
Texas Roadhouse Inc, Cl A		2,716		293
Topgolf Callaway Brands Corp *		32,301		551
Travel + Leisure Co		15,165		553
Tri Pointe Homes Inc *		7,722		226
Urban Outfitters Inc *		59,699		1,840
Valvoline Inc		29,344		1,130
Wingstop Inc		5,512		1,099
Winmark Corp		372		121
WW International Inc *(A)		82,392		540
Xponential Fitness Inc, Cl A *		13,460		357
YETI Holdings Inc *		5,986		219

				31,038
Consumer Staples — 4.7%
Beauty Health Co/The *		24,069		193
BellRing Brands Inc *		8,019		294
Casey's General Stores Inc		3,067		692
Celsius Holdings Inc *		2,507		315
Duckhorn Portfolio Inc/The *		37,808		493
elf Beauty Inc *		2,573		268
Hain Celestial Group Inc/The *		19,934		243
Hostess Brands Inc, Cl A *		23,416		583
Ingles Markets Inc, Cl A		2,849		229
Ingredion Inc		9,487		992
Inter Parfums Inc		5,777		726
John B Sanfilippo & Son Inc		2,182		254
Lancaster Colony Corp		2,494		490
Medifast Inc		13,204		1,039
MGP Ingredients Inc		4,053		385
Natural Grocers by Vitamin Cottage Inc		19,097		211
Nature's Sunshine Products Inc *		5,633		63
Performance Food Group Co *		11,622		643
Pilgrim's Pride Corp *		55,167		1,225
Sovos Brands Inc *		21,563		409


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
TreeHouse Foods Inc *		19,015	$	900
Turning Point Brands Inc		17,437		365
Village Super Market Inc, Cl A		8,542		177
Vita Coco Co Inc/The *		12,136		324
Vital Farms Inc *		17,980		260

				11,773
Energy — 5.0%
Berry Corp		18,014		114
Borr Drilling Ltd *(A)		21,701		149
Bristow Group Inc *		12,249		300
Cactus Inc, Cl A		13,717		433
ChampionX Corp		23,966		605
Chord Energy Corp		4,902		701
Civitas Resources Inc		15,876		1,061
CNX Resources Corp *		16,703		258
Crescent Point Energy		34,721		219
Delek US Holdings Inc		80,023		1,762
DMC Global Inc *		14,423		234
Dorian LPG Ltd		15,452		357
Excelerate Energy Inc, Cl A		3,730		69
Expro Group Holdings NV *		12,922		214
Helix Energy Solutions Group Inc *		31,050		195
HF Sinclair Corp		10,812		448
Matador Resources Co		12,212		537
NCS Multistage Holdings Inc *		2,241		38
Northern Oil and Gas Inc		22,790		682
Oil States International Inc *		14,970		95
PDC Energy Inc		13,283		911
REX American Resources Corp *		7,868		259
RPC Inc		67,590		449
Select Water Solutions Inc, Cl A		16,590		120
SFL Corp Ltd		27,485		236
Solaris Oilfield Infrastructure Inc, Cl A		38,312		281
Southwestern Energy Co *		234,949		1,121
Talos Energy Inc *		6,070		75
Teekay Corp *		22,350		125
TETRA Technologies Inc *		20,320		53
VAALCO Energy Inc		59,370		229
Viper Energy Partners LP		4,751		122

				12,452
Financials — 14.6%
1st Source Corp		2,700		111
AFC Gamma Inc ^‡		5,632		65
Amalgamated Financial Corp		4,120		59
American Equity Investment Life Holding Co		50,841		2,006
Arrow Financial Corp		2,602		47
AssetMark Financial Holdings Inc *		16,505		463
Atlanticus Holdings Corp *		9,783		342
AvidXchange Holdings Inc *		8,550		83
Bank OZK (A)		17,716		613
Byline Bancorp Inc		5,720		101


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Capital Bancorp Inc		5,090	$	86
Carter Bankshares Inc *		6,938		98
Cass Information Systems Inc		5,380		208
Chimera Investment Corp ^‡		84,574		408
City Holding Co		4,269		368
Civista Bancshares Inc		7,735		116
CNO Financial Group Inc		87,900		1,908
Coastal Financial Corp/WA *		8,128		278
Cohen & Steers Inc		7,941		432
Columbia Banking System Inc		131,921		2,642
Comerica Inc		12,104		437
Crawford & Co, Cl A		16,914		167
CrossFirst Bankshares Inc *		10,270		99
Enova International Inc *		1,880		87
Esquire Financial Holdings Inc		4,518		191
FactSet Research Systems Inc		1,491		574
Financial Institutions Inc		3,289		52
First American Financial Corp		11,136		612
First Commonwealth Financial Corp		87,129		1,102
First Community Bankshares Inc		8,010		214
First Financial Corp/IN		2,670		87
First Interstate BancSystem Inc, Cl A		31,584		696
FNB Corp/PA		105,934		1,164
Globe Life Inc		5,045		521
Great Southern Bancorp Inc		3,720		181
Hamilton Lane Inc, Cl A		8,590		583
Hanover Insurance Group Inc/The		5,418		604
HBT Financial Inc		12,060		212
HCI Group Inc		1,040		55
Heritage Commerce Corp		20,215		147
Home BancShares Inc/AR		31,763		682
HomeTrust Bancshares Inc		7,930		155
I3 Verticals Inc, Cl A *		3,992		91
Independent Bank Corp		12,590		556
Independent Bank Corp/MI		6,815		111
International Money Express Inc *		21,781		508
Jack Henry & Associates Inc		4,055		620
KeyCorp		90,182		842
Kinsale Capital Group Inc		1,749		530
Lincoln National Corp		71,666		1,499
Macatawa Bank Corp		25,512		222
Mercantile Bank Corp		5,421		141
Merchants Bancorp/IN		9,850		225
Metrocity Bankshares Inc		3,169		52
Metropolitan Bank Holding Corp *		4,395		124
MGIC Investment Corp		33,522		507
Morningstar Inc		2,465		505
National Bank Holdings Corp, Cl A		8,193		245
National Western Life Group Inc, Cl A		410		153
NMI Holdings Inc, Cl A *		14,737		371
OFG Bancorp		11,701		284
Old National Bancorp/IN		162,945		2,024


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Old Second Bancorp Inc		15,970	$	189
Oppenheimer Holdings Inc, Cl A		6,621		260
Orrstown Financial Services Inc		7,033		127
Paysafe Ltd *		15,971		154
Peapack-Gladstone Financial Corp		4,354		115
Peoples Bancorp Inc/OH		3,040		78
Peoples Financial Services Corp		3,053		121
Pinnacle Financial Partners Inc		11,522		561
Primerica Inc		5,615		1,022
Prosperity Bancshares Inc		8,686		497
Provident Bancorp Inc (A)		14,452		110
RBB Bancorp		5,166		54
Regional Management Corp		11,534		302
Remitly Global Inc *		16,059		295
Selectquote Inc *		95,100		152
Southern Missouri Bancorp Inc		2,150		80
Stellar Bancorp Inc		3,729		87
StepStone Group Inc, Cl A		6,761		145
Summit Financial Group Inc		3,330		63
Universal Insurance Holdings Inc		25,191		361
Univest Financial Corp		29,206		518
Valley National Bancorp		75,745		559
Wintrust Financial Corp		13,287		845
WisdomTree Inc		34,539		235
Zions Bancorp NA (A)		31,120		849

				36,445
Health Care — 16.0%
2seventy bio Inc *		6,670		79
4D Molecular Therapeutics Inc *		6,851		126
89bio Inc *(A)		10,927		199
Aclaris Therapeutics Inc *		17,910		150
ADMA Biologics Inc *		44,953		183
Agenus Inc *		67,678		106
Akero Therapeutics Inc *		4,390		196
Allogene Therapeutics Inc *		9,540		50
Alphatec Holdings Inc *		10,309		156
ALX Oncology Holdings Inc *		34,568		231
Amedisys Inc *		7,737		588
AMN Healthcare Services Inc *		23,745		2,255
Amneal Pharmaceuticals Inc *		40,660		95
AnaptysBio Inc *		2,736		52
ANI Pharmaceuticals Inc *		7,649		345
Apellis Pharmaceuticals Inc *		3,625		311
Arcellx Inc *		6,214		274
Arcturus Therapeutics Holdings Inc *		4,665		128
Arcutis Biotherapeutics Inc *		17,700		133
Arvinas Inc *		5,011		109
Assertio Holdings Inc *(A)		29,904		189
Axogen Inc *		24,384		207
BioLife Solutions Inc *		7,670		179
Biomea Fusion Inc *(A)		7,430		252
Bluebird Bio Inc *		23,190		78


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Bridgebio Pharma Inc *		13,423	$	184
Brookdale Senior Living Inc, Cl A *		59,228		204
C4 Therapeutics Inc *		3,465		12
CareDx Inc *		23,610		188
Castle Biosciences Inc *		4,660		114
Certara Inc *		9,411		196
Chemed Corp		1,175		627
Coherus Biosciences Inc *		12,020		49
Collegium Pharmaceutical Inc *		43,025		950
Community Health Systems Inc *		28,510		93
Computer Programs and Systems Inc *		2,396		57
CorVel Corp *		1,053		206
Cross Country Healthcare Inc *		79,123		2,018
Cymabay Therapeutics Inc *		17,448		157
Definitive Healthcare Corp, Cl A *		6,130		60
DICE Therapeutics Inc *		8,700		275
Eagle Pharmaceuticals Inc/DE *		16,570		344
Emergent BioSolutions Inc *		10,540		90
Encompass Health Corp		29,281		1,816
Ensign Group Inc/The		9,087		805
Envista Holdings Corp *		17,629		562
EyePoint Pharmaceuticals Inc *		7,315		44
Generation Bio Co *		15,870		56
Gossamer Bio Inc *		51,690		69
Harrow Health Inc *		7,474		141
HealthEquity Inc *		5,510		302
HealthStream Inc		18,126		417
Heron Therapeutics Inc *(A)		107,615		123
ImmunoGen Inc *		15,654		214
Inhibrx Inc *		5,455		129
Innoviva Inc *		14,911		201
Inspire Medical Systems Inc *		1,035		303
Integra LifeSciences Holdings Corp *		39,459		1,498
Intra-Cellular Therapies Inc *		4,925		292
Invitae Corp *(A)		87,502		94
iRadimed Corp		10,311		485
iTeos Therapeutics Inc *		25,242		411
KalVista Pharmaceuticals Inc *		17,400		170
Kiniksa Pharmaceuticals Ltd, Cl A *		43,412		602
Kodiak Sciences Inc *		36,260		215
Krystal Biotech Inc *		2,127		251
Lantheus Holdings Inc *		3,467		300
LeMaitre Vascular Inc		15,068		947
Madrigal Pharmaceuticals Inc *		729		203
MaxCyte Inc *		32,243		132
Merit Medical Systems Inc *		9,130		752
Mersana Therapeutics Inc *		14,730		111
MiNK Therapeutics Inc *		932		2
Mirum Pharmaceuticals Inc *		13,450		353
Morphic Holding Inc *		5,910		340
NeoGenomics Inc *		10,784		185
Nevro Corp *		5,322		147


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Nurix Therapeutics Inc *		22,690	$	230
Nuvalent Inc, Cl A *		4,146		175
NuVasive Inc *		9,779		373
Omnicell Inc *		3,410		250
OptimizeRx Corp *		5,807		82
OraSure Technologies Inc *		69,170		348
Organogenesis Holdings Inc, Cl A *		120,789		438
Orthofix Medical Inc *		7,620		142
Paragon 28 Inc *		11,736		211
Pediatrix Medical Group Inc *		9,029		120
Pennant Group Inc/The *		11,910		143
Penumbra Inc *		589		181
Perrigo Co PLC		16,254		520
PetIQ Inc, Cl A *		8,120		103
PMV Pharmaceuticals Inc *		13,840		74
Praxis Precision Medicines Inc *		64,285		55
Precigen Inc *(A)		90,151		107
Prestige Consumer Healthcare Inc *		19,493		1,116
Privia Health Group Inc *		3,220		80
Protagonist Therapeutics Inc *		16,763		437
Prothena Corp PLC *		3,903		259
Quanterix Corp *		8,456		166
Quest Diagnostics Inc		4,501		597
QuidelOrtho Corp *		6,813		580
RadNet Inc *		8,377		242
RAPT Therapeutics Inc *		10,650		213
Relay Therapeutics Inc *		5,755		64
Revance Therapeutics Inc *		6,590		201
Rigel Pharmaceuticals Inc *		88,008		123
RxSight Inc *		9,278		226
Sana Biotechnology Inc *(A)		32,298		194
Schrodinger Inc/United States *		5,415		181
Shockwave Medical Inc *		1,284		353
SI-BONE Inc *		9,057		228
SIGA Technologies Inc		73,160		410
Sight Sciences Inc *		12,920		124
Silk Road Medical Inc *		5,551		168
Simulations Plus Inc		1,500		66
Sonendo Inc *(A)		30,683		39
SpringWorks Therapeutics Inc *		5,003		137
STERIS PLC		3,698		740
Stoke Therapeutics Inc *		11,487		129
Surmodics Inc *		3,350		61
Sutro Biopharma Inc *		13,559		61
Tactile Systems Technology Inc *		22,087		464
TG Therapeutics Inc *		7,595		202
TransMedics Group Inc *		3,697		269
Treace Medical Concepts Inc *		7,873		209
UFP Technologies Inc *		2,122		328
US Physical Therapy Inc		7,138		729
Utah Medical Products Inc		1,102		103
Vanda Pharmaceuticals Inc *		67,513		402


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Vaxcyte Inc *		5,340	$	264
Veracyte Inc *		6,347		164
ViewRay Inc *		23,672		13
Viking Therapeutics Inc *(A)		9,430		207
Voyager Therapeutics Inc *		16,142		184
Y-mAbs Therapeutics Inc *		50,070		407

				39,859
Industrials — 19.2%
AAON Inc		2,538		220
ABM Industries Inc		58,827		2,598
ACCO Brands Corp		294,884		1,427
ACV Auctions Inc, Cl A *		41,495		707
Air Lease Corp, Cl A		15,108		574
Alamo Group Inc		860		143
Alight Inc, Cl A *		65,275		552
Allison Transmission Holdings Inc		11,825		559
Argan Inc		1,690		68
Astronics Corp *		30,101		479
AZEK Co Inc/The, Cl A *		21,528		501
Barrett Business Services Inc		4,133		347
Blue Bird Corp *		7,503		190
Booz Allen Hamilton Holding Corp, Cl A		7,023		706
BrightView Holdings Inc *		18,380		121
Broadridge Financial Solutions Inc		4,329		635
BWX Technologies Inc		21,490		1,296
Byrna Technologies Inc *		22,989		107
CACI International Inc, Cl A *		2,837		849
Carlisle Cos Inc		2,465		524
Casella Waste Systems Inc, Cl A *		3,206		289
Cimpress PLC *		8,051		385
CIRCOR International Inc *		26,074		756
Clean Harbors Inc *		7,788		1,093
Comfort Systems USA Inc		1,578		234
Costamare Inc		17,995		139
Daseke Inc *		53,740		322
Distribution Solutions Group Inc *		2,300		104
Ducommun Inc *		3,658		150
DXP Enterprises Inc/TX *		10,055		321
EMCOR Group Inc		7,478		1,233
Enerpac Tool Group Corp, Cl A		14,434		367
EnerSys		2,322		226
Ennis Inc		21,552		417
EnPro Industries Inc		6,395		646
ExlService Holdings Inc *		4,371		660
Federal Signal Corp		3,540		188
First Advantage Corp *		6,410		87
Forrester Research Inc *		15,634		449
Forward Air Corp		2,391		233
Franklin Covey Co *		10,252		379
FTAI Aviation Ltd		8,107		227
FTI Consulting Inc *		803		151
Gates Industrial Corp PLC *		35,114		412


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Genco Shipping & Trading Ltd		4,222	$	52
GFL Environmental Inc		21,615		781
GXO Logistics Inc *		3,869		216
Harsco Corp *		22,574		191
Heartland Express Inc		17,384		271
Heidrick & Struggles International Inc		7,473		181
Heritage-Crystal Clean Inc *		25,698		852
Hexcel Corp		7,660		528
Hudson Technologies Inc *		110,480		966
Huron Consulting Group Inc *		17,224		1,400
Hyster-Yale Materials Handling Inc		8,097		379
IBEX Holdings Ltd *		14,940		306
Insperity Inc		5,762		638
ITT Inc		10,224		779
John Bean Technologies Corp		2,162		231
Kadant Inc		1,128		214
KBR Inc		3,728		220
Kennametal Inc		9,738		243
Kirby Corp *		5,470		391
Korn Ferry		11,993		564
Landstar System Inc		3,899		684
Legalzoom.com Inc *		46,006		515
Manitowoc Co Inc/The *		31,171		447
Masonite International Corp *		7,035		620
MasTec Inc *		1,650		167
Matson Inc		5,949		407
MYR Group Inc *		1,869		238
NEXTracker Inc, Cl A *		5,007		192
Nordson Corp		2,809		612
Owens Corning		2,017		214
PAM Transportation Services Inc *		10,451		273
Powell Industries Inc		12,565		722
Radiant Logistics Inc *		56,373		352
RB Global Inc		10,612		553
Regal Rexnord Corp		4,419		574
REV Group Inc		10,830		110
Rocket Lab USA Inc *(A)		29,687		136
Safe Bulkers Inc		56,276		178
Simpson Manufacturing Co Inc		2,165		256
SP Plus Corp *		18,328		667
Standex International Corp		12,194		1,661
Steelcase Inc, Cl A		75,942		493
Sterling Infrastructure Inc *		10,197		470
Sun Country Airlines Holdings Inc *		20,280		381
Tennant Co		3,086		226
Terex Corp		14,984		695
Tetra Tech Inc		4,615		634
Thermon Group Holdings Inc *		11,180		256
Titan Machinery Inc *		2,601		66
TransUnion		7,916		570
TTEC Holdings Inc		11,037		350
UFP Industries Inc		4,285		335


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
UniFirst Corp/MA		2,981	$	510
V2X Inc *		6,092		251
Valmont Industries Inc		2,822		740
Vertiv Holdings Co, Cl A		11,934		230
Vicor Corp *		3,464		192
WESCO International Inc		3,605		495

				47,946
Information Technology — 12.5%
8x8 Inc *		165,921		677
A10 Networks Inc		15,300		228
ACM Research Inc, Cl A *		27,530		278
Aehr Test Systems *		4,777		158
Agilysys Inc *		2,169		161
Alkami Technology Inc *		52,352		785
Allegro MicroSystems Inc *		6,226		245
Altair Engineering Inc, Cl A *		3,979		292
American Software Inc/GA, Cl A		28,892		368
Amplitude Inc, Cl A *		8,760		85
Applied Digital Corp *(A)		32,670		273
AppLovin Corp, Cl A *		7,171		179
Arlo Technologies Inc *		57,989		561
Aviat Networks Inc *		7,090		217
Axcelis Technologies Inc *		1,948		307
AXT Inc *		20,528		70
Badger Meter Inc		2,428		335
Bel Fuse Inc, Cl B		3,901		192
Belden Inc		9,460		828
C3.ai Inc, Cl A *(A)		7,158		286
Cambium Networks Corp *		4,230		66
CCC Intelligent Solutions Holdings Inc *		20,607		225
Clearfield Inc *		5,742		225
Cognex Corp		11,410		627
Confluent Inc, Cl A *		7,371		234
Consensus Cloud Solutions Inc *		13,957		509
Couchbase Inc *		10,222		210
Diodes Inc *		6,321		568
DoubleVerify Holdings Inc *		6,940		242
eGain Corp *		24,834		180
Entegris Inc		6,835		719
Evolv Technologies Holdings Inc *		37,128		221
Extreme Networks Inc *		12,194		251
Grid Dynamics Holdings Inc *		19,810		190
Hackett Group Inc/The		22,426		435
Harmonic Inc *		74,409		1,310
Intapp Inc *		3,889		164
InterDigital Inc		2,757		229
IonQ Inc *(A)		22,463		242
Itron Inc *		3,481		236
Kimball Electronics Inc *		6,760		168
Kulicke & Soffa Industries Inc		12,986		687
Littelfuse Inc		2,494		639
Lumentum Holdings Inc *		13,037		690


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
MACOM Technology Solutions Holdings Inc *		4,479	$	268
Mirion Technologies Inc, Cl A *		43,081		341
Mitek Systems Inc *		6,417		67
Momentive Global Inc *		22,259		210
Monday.com Ltd *		1,007		181
N-able Inc *		14,019		199
Napco Security Technologies Inc		5,110		190
National Instruments Corp		12,052		697
Olo Inc, Cl A *		13,540		93
Onto Innovation Inc *		3,138		337
OSI Systems Inc *		1,787		213
PagerDuty Inc *		6,107		166
PC Connection Inc		10,430		469
Photronics Inc *		123,186		2,615
Porch Group Inc *(A)		67,030		95
Power Integrations Inc		8,199		708
Rambus Inc *		5,586		357
Ribbon Communications Inc *		42,730		119
ScanSource Inc *		2,480		71
Silicon Motion Technology Corp ADR		24,030		1,472
SMART Global Holdings Inc *		8,960		202
SolarWinds Corp *		5,740		53
Super Micro Computer Inc *		13,863		3,105
Teradata Corp *		4,749		223
UiPath Inc, Cl A *		11,821		212
Unisys Corp *		13,440		53
Universal Display Corp		6,202		914
Veeco Instruments Inc *		9,132		223
Vertex Inc, Cl A *		10,739		236
Viavi Solutions Inc *		65,280		642
Vishay Intertechnology Inc		8,594		222
Vishay Precision Group Inc *		12,090		422

				31,167
Materials — 4.1%
Aspen Aerogels Inc *		14,450		95
Axalta Coating Systems Ltd *		19,347		561
Cabot Corp		5,634		386
Carpenter Technology Corp		3,392		155
Chase Corp		2,376		279
Clearwater Paper Corp *		16,110		490
Commercial Metals Co		36,782		1,572
Diversey Holdings Ltd *(A)		10,664		89
Eagle Materials Inc		1,356		221
Ecovyst Inc *		24,234		243
Element Solutions Inc		26,173		469
Haynes International Inc		9,950		432
Ingevity Corp *		9,068		428
Innospec Inc		3,373		311
Livent Corp *		35,728		823
O-I Glass Inc *		39,942		828
Olympic Steel Inc		8,008		335


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Quaker Chemical Corp		2,580	$	490
Ranpak Holdings Corp, Cl A *		42,870		133
Reliance Steel & Aluminum Co		3,383		794
Ryerson Holding Corp		6,930		236
Silgan Holdings Inc		10,268		462
SunCoke Energy Inc		30,320		206
Tredegar Corp		9,530		67

				10,105
Real Estate — 2.3%
Ashford Hospitality Trust Inc *^‡		21,750		90
Corporate Office Properties Trust ^‡		22,356		510
eXp World Holdings Inc (A)		39,131		602
Farmland Partners Inc ^‡		8,310		94
Forestar Group Inc *		14,074		286
Hersha Hospitality Trust, Cl A ^‡		10,200		59
Highwoods Properties Inc ^‡		10,770		223
Industrial Logistics Properties Trust ^‡		88,132		160
Kennedy-Wilson Holdings Inc		31,132		480
National Storage Affiliates Trust ^‡		16,067		588
Newmark Group Inc, Cl A		72,520		415
NexPoint Residential Trust Inc ^‡		12,700		521
RMR Group Inc/The, Cl A		4,410		95
STAG Industrial Inc ^‡		25,990		905
Terreno Realty Corp ^‡		9,431		579
Universal Health Realty Income Trust ^‡		1,390		61

				5,668
Utilities — 1.6%
Black Hills Corp		8,170		498
Brookfield Infrastructure Corp, Cl A		14,735		679
Chesapeake Utilities Corp		4,329		553
IDACORP Inc		6,575		684
Portland General Electric Co		22,572		1,100
Pure Cycle Corp *		13,804		134
Spire Inc		5,941		384

				4,032
Total Common Stock
(Cost $212,372) ($ Thousands)				240,116



EXCHANGE TRADED FUND — 0.2%

iShares Russell 2000 Value ETF		3,121		409



Total Exchange Traded Fund
(Cost $403) ($ Thousands)				409


Description		Number of Rights	Market Value ($ Thousands)
RIGHT — 0.0%
Distribution Solutions Group Inc, Expires 06/02/2023 *		1,499	$	–
Total Right
(Cost $—) ($ Thousands)				–


	Shares
AFFILIATED PARTNERSHIP — 2.2%
SEI Liquidity Fund, LP
5.010% **^†(B)		5,332,762		5,335


Total Affiliated Partnership
(Cost $5,333) ($ Thousands)				5,335



CASH EQUIVALENT — 3.1%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		7,779,204		7,779

Total Cash Equivalent
(Cost $7,779) ($ Thousands)				7,779


Total Investments in Securities — 101.9%
(Cost $225,887) ($ Thousands)			$	253,639

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

240,116

–

240,116

Exchange Traded Fund

409

–

409

Right

–

Affiliated Partnership

–

5,335

–

5,335

Cash Equivalent

7,779

–

7,779

Total Investments in Securities

248,304

5,335

–

253,639

^ This category includes securities with a value of $—.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 96.3%

Communication Services — 4.5%
AMC Networks Inc, Cl A *		22,800	$	258
Bandwidth Inc, Cl A *		41,096		489
Cable One Inc		3,986		2,439
Cargurus Inc, Cl A *		74,664		1,403
Cinemark Holdings Inc *		50,600		810
Cogent Communications Holdings Inc		42,297		2,602
IAC Inc *		6,733		376
Iridium Communications Inc		72,813		4,372
John Wiley & Sons Inc, Cl A		76,893		2,768
Nexstar Media Group Inc, Cl A		61,267		9,246
Shutterstock Inc		62,102		3,091
Yelp Inc, Cl A *		30,200		1,012
Ziff Davis Inc *		81,237		4,796
ZipRecruiter Inc, Cl A *		64,375		996

				34,658
Consumer Discretionary — 11.2%
Aaron's Co Inc/The		26,196		321
Adtalem Global Education Inc *		20,000		830
American Axle & Manufacturing Holdings Inc *		90,600		612
American Eagle Outfitters Inc		33,736		343
BJ's Restaurants Inc *		28,000		834
Bloomin' Brands Inc		89,288		2,133
Boot Barn Holdings Inc *		6,890		466
BorgWarner Inc		34,400		1,525
Brinker International Inc *		23,595		863
Brunswick Corp/DE		38,643		2,918
Canada Goose Holdings Inc *(A)		31,492		501
Capri Holdings Ltd *		18,100		635
Carter's Inc		12,100		752
Churchill Downs Inc		36,774		4,995
Dick's Sporting Goods Inc		7,800		995
Domino's Pizza Inc		7,862		2,279


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Duolingo Inc, Cl A *		10,570	$	1,581
Farfetch Ltd, Cl A *		57,285		282
Floor & Decor Holdings Inc, Cl A *		3,288		300
Foot Locker Inc		37,100		939
Fox Factory Holding Corp *		25,851		2,299
Frontdoor Inc *		20,036		618
Gentherm Inc *		12,855		707
Goodyear Tire & Rubber Co/The *		71,642		984
Grand Canyon Education Inc *		5,028		527
Group 1 Automotive Inc		12,969		2,899
Hanesbrands Inc *		55,099		226
Harley-Davidson Inc		42,300		1,316
Haverty Furniture Cos Inc		38,200		1,008
Helen of Troy Ltd *		10,863		1,046
Installed Building Products Inc		7,011		733
Kohl's Corp		24,700		452
Leslie's Inc *		151,637		1,438
Lithia Motors Inc, Cl A		14,915		3,479
Macy's Inc		43,100		586
MasterCraft Boat Holdings Inc *		27,867		738
MDC Holdings Inc		20,400		822
Mohawk Industries Inc *		7,800		718
Monro Inc		50,380		2,084
Murphy USA Inc		3,285		908
National Vision Holdings Inc *		17,633		445
ODP Corp/The *		35,698		1,430
Oxford Industries Inc		8,209		820
Perdoceo Education Corp *		45,800		540
Pool Corp		8,526		2,696
PulteGroup Inc		35,200		2,326
PVH Corp		13,300		1,144
Qurate Retail Inc *		68,700		57
Sally Beauty Holdings Inc *		59,281		668
Six Flags Entertainment Corp *		30,900		789
Skechers USA Inc, Cl A *		21,071		1,082
Skyline Champion Corp *		12,005		698
Sonic Automotive Inc, Cl A		13,400		555
Sportradar Holding AG, Cl A *		52,655		635
Stride Inc *		22,228		898
Tapestry Inc		21,600		864
Taylor Morrison Home Corp, Cl A *		26,258		1,114
Texas Roadhouse Inc, Cl A		21,440		2,313
Toll Brothers Inc		39,300		2,661
Travel + Leisure Co		67,543		2,463
Tri Pointe Homes Inc *		30,880		902
Tupperware Brands Corp *(A)		53,600		48
Under Armour Inc, Cl C *		71,921		473
Upbound Group Inc, Cl A		44,400		1,328
Victoria's Secret & Co *		73,003		1,491
Whirlpool Corp		14,400		1,862
Wingstop Inc		17,555		3,500
Winnebago Industries Inc		11,200		623


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Wyndham Hotels & Resorts Inc		22,605	$	1,543
XPEL Inc *		6,785		467
Xponential Fitness Inc, Cl A *		81,100		2,148

				86,275
Consumer Staples — 4.5%
Albertsons Cos Inc, Cl A		62,300		1,268
Beauty Health Co/The *		35,765		288
BJ's Wholesale Club Holdings Inc *		16,614		1,041
Casey's General Stores Inc		13,287		2,998
Conagra Brands Inc		38,100		1,329
Edgewell Personal Care Co		20,774		809
elf Beauty Inc *		34,915		3,632
Energizer Holdings Inc		24,900		812
Herbalife Ltd *		23,800		282
Hostess Brands Inc, Cl A *		37,236		926
Ingles Markets Inc, Cl A		8,900		714
Ingredion Inc		17,300		1,810
Inter Parfums Inc		31,344		3,937
MGP Ingredients Inc		8,809		837
Molson Coors Beverage Co, Cl B		44,100		2,728
SpartanNash Co		18,700		428
Spectrum Brands Holdings Inc		54,712		3,951
Sprouts Farmers Market Inc *		63,600		2,198
TreeHouse Foods Inc *		43,830		2,075
US Foods Holding Corp *		34,901		1,388
Vita Coco Co Inc/The *		57,700		1,540

				34,991
Energy — 4.6%
APA Corp		30,500		969
Cactus Inc, Cl A		12,560		397
California Resources Corp		22,500		845
ChampionX Corp		30,700		776
Chord Energy Corp		21,813		3,120
Civitas Resources Inc		43,986		2,938
CVR Energy Inc		28,638		670
DT Midstream Inc		80,093		3,641
HF Sinclair Corp		52,100		2,159
Liberty Energy Inc, Cl A		56,503		663
Magnolia Oil & Gas Corp, Cl A		112,250		2,170
Marathon Oil Corp		79,900		1,771
Matador Resources Co		77,096		3,390
Northern Oil and Gas Inc		103,325		3,091
PBF Energy Inc, Cl A		21,793		802
PDC Energy Inc		19,400		1,331
Peabody Energy Corp		32,174		584
Scorpio Tankers Inc		17,700		810
TechnipFMC PLC *		124,862		1,641
Teekay Tankers Ltd, Cl A		21,400		773
US Silica Holdings Inc *		68,755		779
Viper Energy Partners LP		15,365		396
Vitesse Energy Inc		3,154		73


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Weatherford International PLC *		14,575	$	823
World Fuel Services Corp		26,900		615

				35,227
Financials — 13.4%
Affiliated Managers Group Inc		5,900		821
AG Mortgage Investment Trust Inc ^‡		20,500		113
Ally Financial Inc		40,300		1,075
American Equity Investment Life Holding Co		21,700		856
American Financial Group Inc/OH		7,500		842
Annaly Capital Management Inc ^‡		20,550		388
Ares Capital Corp		35,700		669
Artisan Partners Asset Management Inc, Cl A		26,007		832
Associated Banc-Corp		54,400		806
Axos Financial Inc *		19,221		727
Banco Latinoamericano de Comercio Exterior SA, Cl E		30,600		596
Bank OZK (A)		78,726		2,722
Banner Corp		16,328		707
BGC Partners Inc, Cl A		547,962		2,230
Brightsphere Investment Group Inc		37,947		816
Chimera Investment Corp ^‡		61,200		295
Citizens Financial Group Inc		33,800		871
CNA Financial Corp		18,800		693
CNO Financial Group Inc		124,127		2,695
Cohen & Steers Inc		36,001		1,959
Columbia Banking System Inc		82,049		1,643
Comerica Inc		9,000		325
Dime Community Bancshares Inc		20,570		333
Donnelley Financial Solutions Inc *		19,300		856
Equitable Holdings Inc		37,000		908
Essent Group Ltd		17,600		777
Euronet Worldwide Inc *		32,467		3,617
Everest Re Group Ltd		3,500		1,190
EVERTEC Inc		25,400		876
FactSet Research Systems Inc		6,644		2,557
Federated Hermes Inc, Cl B		22,000		757
Fifth Third Bancorp		48,400		1,175
First American Financial Corp		31,700		1,741
First BanCorp/Puerto Rico		73,171		817
First Busey Corp		27,700		518
First Commonwealth Financial Corp		71,398		903
First Financial Bancorp		41,127		780
First Merchants Corp		52,457		1,388
FleetCor Technologies Inc *		3,700		838
Flushing Financial Corp		32,133		374
Flywire Corp *		42,300		1,271
FNB Corp/PA		81,000		890
FS KKR Capital Corp (A)		35,800		693
Fulton Financial Corp		56,300		628
Globe Life Inc		22,145		2,285
Hamilton Lane Inc, Cl A		48,118		3,268


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hancock Whitney Corp		15,300	$	559
Hanmi Financial Corp		62,800		904
Hilltop Holdings Inc		28,578		844
Home BancShares Inc/AR		135,196		2,903
HomeStreet Inc (A)		25,800		135
Jack Henry & Associates Inc		17,938		2,743
Jefferies Financial Group Inc		26,800		806
KeyCorp		49,300		460
Kinsale Capital Group Inc		19,520		5,914
Lincoln National Corp		14,100		295
LPL Financial Holdings Inc		5,148		1,003
MGIC Investment Corp		81,200		1,228
Morningstar Inc		10,962		2,244
Mr Cooper Group Inc *		20,251		937
Navient Corp		118,700		1,798
Oaktree Specialty Lending Corp		53,000		992
OFG Bancorp		76,885		1,865
Pacific Premier Bancorp Inc		54,774		1,031
PacWest Bancorp (A)		147,328		950
Pathward Financial Inc		19,930		876
Peoples Bancorp Inc/OH		34,000		873
Popular Inc		24,900		1,424
PROG Holdings Inc *		36,500		1,191
Prosperity Bancshares Inc		38,090		2,178
Radian Group Inc		40,700		1,039
Regions Financial Corp		63,600		1,098
Reinsurance Group of America Inc, Cl A		4,700		658
Rithm Capital Corp ^‡		85,300		694
RLI Corp		6,976		864
S&T Bancorp Inc		31,962		857
Sandy Spring Bancorp Inc		38,338		803
Selective Insurance Group Inc		9,298		899
Starwood Property Trust Inc ^‡(A)		179,683		3,153
Stifel Financial Corp		7,535		419
Synovus Financial Corp		19,300		523
Universal Insurance Holdings Inc		10,300		148
Unum Group		39,000		1,695
Victory Capital Holdings Inc, Cl A		22,000		681
Voya Financial Inc		13,600		922
Western Union Co/The		32,400		369
WisdomTree Inc		115,984		789
Zions Bancorp NA (A)		44,500		1,214

				103,099
Health Care — 14.0%
2seventy bio Inc *		92,804		1,105
Acadia Healthcare Co Inc *		12,380		874
ACADIA Pharmaceuticals Inc *		44,935		1,056
Addus HomeCare Corp *		8,308		749
Agios Pharmaceuticals Inc *		15,492		392
Align Technology Inc *		992		280
Alkermes PLC *		33,076		957
AMN Healthcare Services Inc *		7,865		747


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Amphastar Pharmaceuticals Inc *		25,330	$	1,124
Amylyx Pharmaceuticals Inc *		25,814		637
ANI Pharmaceuticals Inc *		19,300		871
Apellis Pharmaceuticals Inc *		15,660		1,344
Arrowhead Pharmaceuticals Inc *		21,400		736
Arvinas Inc *		12,309		269
Aurinia Pharmaceuticals Inc *		92,496		829
Axogen Inc *		25,273		215
Axonics Inc *		13,338		645
Bio-Techne Corp		9,360		766
C4 Therapeutics Inc *		10,442		35
Catalent Inc *		6,657		248
Certara Inc *		31,774		660
Chemed Corp		5,204		2,778
Cooper Cos Inc/The		3,039		1,129
DaVita Inc *		18,300		1,714
Doximity Inc, Cl A *		13,885		426
Encompass Health Corp		53,259		3,303
Enovis Corp *		44,104		2,326
Ensign Group Inc/The		88,385		7,832
Evolent Health Inc, Cl A *		65,845		1,919
Exelixis Inc *		48,584		937
Globus Medical Inc, Cl A *		14,071		762
Haemonetics Corp *		9,622		814
Halozyme Therapeutics Inc *		29,177		946
HealthEquity Inc *		11,740		643
Henry Schein Inc *		14,103		1,042
ImmunoGen Inc *		64,000		873
Incyte Corp *		9,000		554
Innoviva Inc *		68,818		928
Inspire Medical Systems Inc *		14,808		4,331
Intra-Cellular Therapies Inc *		13,400		796
Ironwood Pharmaceuticals Inc, Cl A *		97,700		1,063
Jazz Pharmaceuticals PLC *		19,500		2,499
Kiniksa Pharmaceuticals Ltd, Cl A *		62,224		862
Lantheus Holdings Inc *		43,355		3,754
Legend Biotech Corp ADR *		8,037		516
LeMaitre Vascular Inc		54,588		3,430
Ligand Pharmaceuticals Inc *		12,962		908
LivaNova PLC *		33,796		1,497
Medpace Holdings Inc *		4,568		945
Merit Medical Systems Inc *		70,750		5,830
Nevro Corp *		12,033		332
Omnicell Inc *		8,478		622
Option Care Health Inc *		83,859		2,310
Owens & Minor Inc *		43,800		890
Perrigo Co PLC		72,304		2,311
Phreesia Inc *		30,930		929
Progyny Inc *		23,000		857
Quest Diagnostics Inc		30,420		4,035
QuidelOrtho Corp *		38,058		3,240
Relay Therapeutics Inc *		19,683		219


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Revance Therapeutics Inc *		28,280	$	864
Select Medical Holdings Corp		27,000		739
Shockwave Medical Inc *		13,191		3,629
Sotera Health Co *		44,999		634
SpringWorks Therapeutics Inc *		15,585		427
STERIS PLC		25,817		5,163
Stevanato Group SpA		5,091		137
Supernus Pharmaceuticals Inc *		44,949		1,490
Syndax Pharmaceuticals Inc *		19,455		389
Teleflex Inc		2,746		645
TransMedics Group Inc *		18,555		1,348
United Therapeutics Corp *		8,965		1,880
Universal Health Services Inc, Cl B		11,300		1,493
US Physical Therapy Inc		31,778		3,246
Veracyte Inc *		18,957		491

				108,216
Industrials — 19.1%
ABM Industries Inc		63,003		2,782
Acuity Brands Inc		7,400		1,115
ACV Auctions Inc, Cl A *		82,060		1,398
AGCO Corp		24,600		2,713
Air Lease Corp, Cl A		67,432		2,564
Alamo Group Inc		4,700		782
Alaska Air Group Inc *		20,810		935
Alight Inc, Cl A *		216,138		1,829
Allegiant Travel Co, Cl A *		9,474		924
Allison Transmission Holdings Inc, Cl A		100,700		4,763
Apogee Enterprises Inc		26,800		989
Applied Industrial Technologies Inc		9,599		1,180
ArcBest Corp		14,700		1,232
Arcosa Inc		15,050		988
Atkore Inc *		26,168		3,056
Beacon Roofing Supply Inc *		14,216		909
Booz Allen Hamilton Holding Corp, Cl A		31,225		3,141
Brink's Co/The		13,575		903
Broadridge Financial Solutions Inc		19,270		2,827
BWX Technologies Inc		106,353		6,415
Carlisle Cos Inc		10,962		2,329
Cimpress PLC *		12,605		602
Comfort Systems USA Inc		5,665		838
CoreCivic Inc *^‡		62,100		535
Crane Co		20,945		1,522
Crane NXT Co		31,765		1,672
Deluxe Corp		26,200		399
Encore Wire Corp		2,850		466
Ennis Inc		45,100		874
Esab Corp		43,907		2,578
ESCO Technologies Inc		10,123		911
ExlService Holdings Inc *		4,965		749
Exponent Inc		30,335		2,770
Federal Signal Corp		47,810		2,533
Forward Air Corp		7,669		746


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
FTI Consulting Inc *		17,830	$	3,352
Generac Holdings Inc *		4,930		537
GFL Environmental Inc		96,442		3,485
GMS Inc *		15,745		997
GXO Logistics Inc *		73,610		4,116
H&E Equipment Services Inc		18,261		657
Harsco Corp *		101,000		854
Heartland Express Inc		14,213		222
Hillenbrand Inc		18,200		873
Huntington Ingalls Industries Inc		3,200		644
Huron Consulting Group Inc *		12,939		1,052
Insperity Inc		25,578		2,832
Interface Inc, Cl A		60,500		419
Janus International Group Inc *		86,782		766
John Bean Technologies Corp		5,605		598
Kaman Corp		40,452		841
Kennametal Inc		31,400		783
Kirby Corp *		14,529		1,040
Korn Ferry		16,233		763
Landstar System Inc		17,273		3,029
Manitowoc Co Inc/The *		55,700		799
ManpowerGroup Inc		14,300		1,003
Matson Inc		16,523		1,129
McGrath RentCorp		9,022		801
Mercury Systems Inc *		17,140		696
Middleby Corp/The *		2,232		295
MillerKnoll Inc		39,600		537
Moog Inc, Cl A		10,200		992
MYR Group Inc *		15,259		1,946
Nordson Corp		12,401		2,703
NV5 Global Inc *		8,035		728
OPENLANE Inc *		195,445		2,936
Owens Corning		18,500		1,967
Quad/Graphics Inc, Cl A *		86,600		283
Quanex Building Products Corp		35,360		743
RB Global Inc		55,745		2,903
RBC Bearings Inc *		7,795		1,546
Rocket Lab USA Inc *(A)		61,455		281
Rush Enterprises Inc, Cl A		18,998		993
Ryder System Inc		15,400		1,214
Sensata Technologies Holding PLC		40,773		1,693
Simpson Manufacturing Co Inc		21,720		2,567
Snap-on Inc		7,400		1,842
Standex International Corp		26,021		3,544
Steelcase Inc, Cl A		125,000		811
Sun Country Airlines Holdings Inc *		44,958		845
Tennant Co		10,309		754
Terex Corp		33,642		1,560
Tetra Tech Inc		20,595		2,831
Textron Inc		11,800		730
Timken Co/The		12,700		909
TransUnion		35,100		2,527


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Triton International Ltd		19,300	$	1,595
TTEC Holdings Inc		49,162		1,559
UFP Industries Inc		19,045		1,487
UniFirst Corp/MA		13,287		2,274
United Airlines Holdings Inc *		16,200		769
Veritiv Corp		4,500		475
Verra Mobility Corp, Cl A *		151,607		2,673
Wabash National Corp		33,831		793
WillScot Mobile Mini Holdings Corp, Cl A *		22,860		985
XPO Inc *		20,136		945

				147,492
Information Technology — 12.1%
8x8 Inc *		113,753		464
ACI Worldwide Inc *		49,953		1,139
Aehr Test Systems *		39,430		1,302
Agilysys Inc *		16,450		1,223
Altair Engineering Inc, Cl A *		55,666		4,082
Amdocs Ltd		10,300		970
Amkor Technology Inc		104,400		2,587
Appfolio Inc, Cl A *		6,200		888
Arrow Electronics Inc *		16,000		2,026
Aviat Networks Inc *		15,400		472
Avnet Inc		22,000		965
Axcelis Technologies Inc *		5,230		824
Badger Meter Inc		6,251		862
Belden Inc		13,183		1,153
Blackbaud Inc *		15,716		1,153
Calix Inc *		19,200		895
Cirrus Logic Inc *		10,700		831
Cognex Corp		50,712		2,787
Consensus Cloud Solutions Inc *		44,176		1,610
Digi International Inc *		27,400		985
Dynatrace Inc *		20,011		1,020
Ebix Inc		16,200		323
EngageSmart Inc *		48,411		919
Entegris Inc		30,294		3,188
Everbridge Inc *		25,737		618
Extreme Networks Inc *		49,936		1,029
GLOBALFOUNDRIES Inc *(A)		16,496		962
Impinj Inc *		9,252		947
Jabil Inc		33,500		2,999
Kulicke & Soffa Industries Inc		58,020		3,068
Littelfuse Inc		10,851		2,778
Model N Inc *		28,095		897
Monday.com Ltd *		3,150		568
N-able Inc *		46,185		656
Napco Security Technologies Inc		41,320		1,537
NCR Corp *		16,200		384
Nova Ltd *		26,460		2,857
Novanta Inc *		12,220		2,024
Okta Inc, Cl A *		10,215		929
ON Semiconductor Corp *		10,703		895


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
PagerDuty Inc *		13,095	$	356
PDF Solutions Inc *		23,600		997
Power Integrations Inc		36,429		3,147
Qorvo Inc *		5,400		525
Qualys Inc *		6,464		816
Rambus Inc *		76,904		4,919
Sanmina Corp *		21,400		1,135
Seagate Technology Holdings PLC		8,400		505
Silicon Laboratories Inc *		16,933		2,382
Skyworks Solutions Inc		5,500		569
Smartsheet Inc, Cl A *		15,019		745
Sprout Social Inc, Cl A *		19,980		865
SPS Commerce Inc *		32,439		5,054
Super Micro Computer Inc *		5,273		1,181
TD SYNNEX Corp		7,400		661
Teledyne Technologies Inc *		4,156		1,615
Tenable Holdings Inc *		14,038		575
Trimble Inc *		30,177		1,408
TTM Technologies Inc *		6,200		85
Universal Display Corp		21,038		3,100
Verint Systems Inc *		102,732		3,686
Vishay Intertechnology Inc		44,800		1,155
Xerox Holdings Corp		43,900		618
Zeta Global Holdings Corp, Cl A *		166,625		1,503

				93,418
Materials — 5.8%
Ashland Inc		37,175		3,155
ATI Inc *		28,877		999
Axalta Coating Systems Ltd *		124,792		3,620
Berry Global Group Inc		26,700		1,527
Chemours Co/The		26,400		699
Clearwater Paper Corp *		20,605		626
Commercial Metals Co		18,153		776
Eastman Chemical Co		9,800		755
Element Solutions Inc		116,594		2,091
FMC Corp		32,340		3,366
Graphic Packaging Holding Co		45,968		1,099
Huntsman Corp		48,000		1,140
Ingevity Corp *		8,900		420
Mativ Holdings Inc		22,500		339
Mosaic Co/The		34,700		1,109
Myers Industries Inc		29,900		559
O-I Glass Inc, Cl I *		96,708		2,004
Orion Engineered Carbons SA		36,565		848
Quaker Chemical Corp		15,505		2,943
Reliance Steel & Aluminum Co		24,259		5,693
Ryerson Holding Corp		9,700		330
Silgan Holdings Inc		142,789		6,424
Steel Dynamics Inc		13,000		1,195
Trinseo PLC		14,600		181
Tronox Holdings PLC		33,100		352
Westrock Co		49,900		1,398


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Worthington Industries Inc		14,800	$	831

				44,479
Real Estate — 5.2%
American Assets Trust Inc ^‡		25,000		476
Apple Hospitality REIT Inc ^‡		89,470		1,300
Armada Hoffler Properties Inc ^‡		67,216		742
Brandywine Realty Trust ^‡		80,600		314
Brixmor Property Group Inc ^‡		45,100		903
City Office REIT Inc ^‡		72,700		329
CTO Realty Growth Inc ^‡(A)		36,630		584
DiamondRock Hospitality Co ^‡		91,506		718
EPR Properties ^‡		27,700		1,155
Equity Commonwealth *^‡		114,890		2,350
Essential Properties Realty Trust Inc ^‡		38,982		933
eXp World Holdings Inc (A)		174,282		2,682
Franklin Street Properties Corp ^‡		107,000		154
Gaming and Leisure Properties Inc ^‡		107,405		5,171
Getty Realty Corp ^‡		25,000		857
Global Net Lease Inc ^‡		72,579		698
Host Hotels & Resorts Inc ^‡		38,400		637
Industrial Logistics Properties Trust ^‡		35,900		65
Innovative Industrial Properties Inc, Cl A ^‡		12,300		813
Kennedy-Wilson Holdings Inc		138,739		2,141
Kite Realty Group Trust ^‡		72,356		1,407
Medical Properties Trust Inc ^‡(A)		353,461		2,916
Newmark Group Inc, Cl A		177,354		1,014
NexPoint Residential Trust Inc ^‡		56,470		2,318
Office Properties Income Trust ^‡		45,400		329
Omega Healthcare Investors Inc ^‡		29,900		891
Piedmont Office Realty Trust Inc, Cl A ^‡		55,300		345
Plymouth Industrial REIT Inc ^‡		45,401		995
Sabra Health Care REIT Inc ^‡		50,600		570
Service Properties Trust ^‡		48,500		398
SITE Centers Corp ^‡		70,900		845
Tanger Factory Outlet Centers Inc ^‡		126,580		2,578
Terreno Realty Corp ^‡		41,965		2,574
Uniti Group Inc ^‡		71,260		265

				40,467
Utilities — 1.9%
Brookfield Infrastructure Corp, Cl A (A)		65,439		3,017
Chesapeake Utilities Corp		19,266		2,460
National Fuel Gas Co		15,900		809
New Jersey Resources Corp		20,937		1,014
Northwest Natural Holding Co		19,803		846
NRG Energy Inc		59,700		2,017
Otter Tail Corp		11,200		831
Portland General Electric Co		18,060		880
UGI Corp		22,900		641
Unitil Corp		15,200		801


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Vistra Corp		42,600	$	1,021

				14,337
Total Common Stock
(Cost $675,718) ($ Thousands)				742,659



AFFILIATED PARTNERSHIP — 2.4%
SEI Liquidity Fund, LP
5.010% **^†(B)		18,037,193		18,033


Total Affiliated Partnership
(Cost $18,039) ($ Thousands)				18,033



CASH EQUIVALENT — 3.6%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		27,881,147		27,881

Total Cash Equivalent
(Cost $27,881) ($ Thousands)				27,881


Total Investments in Securities — 102.3%
(Cost $721,638) ($ Thousands)			$	788,573

A list of the open futures contracts held by the Fund at May 31, 2023 is as follows:

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

742,659

–

742,659

Affiliated Partnership

–

18,033

–

18,033

Cash Equivalent

27,881

–

27,881

Total Investments in Securities

770,540

18,033

–

788,573

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

–

Total Other Financial Instruments

–

Amounts less than $500.

*	Futures contracts are valued at the unrealized appreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† — 99.0%

Communication Services — 9.6%
Alphabet Inc, Cl A *		183,871	$	22,592
Alphabet Inc, Cl C *		77,313		9,538
AT&T Inc		469,432		7,384
Cars.com Inc *		47,038		830
Comcast Corp, Cl A		227,820		8,965
EchoStar Corp, Cl A *		25,188		397
Electronic Arts Inc		3,821		489
Fox Corp		41,371		1,228
Interpublic Group of Cos Inc/The		58,828		2,188
John Wiley & Sons Inc, Cl A		1,114		40
Meta Platforms Inc, Cl A *		76,808		20,333
Netflix Inc *		1,168		462
News Corp, Cl A		40,553		743
Nexstar Media Group Inc, Cl A		1,846		279
Omnicom Group Inc		94,555		8,339
Playtika Holding Corp *		68,616		688
Sirius XM Holdings Inc		122,808		437
Spotify Technology SA *		4,838		720
Trade Desk Inc/The, Cl A *		1,801		126
Verizon Communications Inc		199,567		7,111
World Wrestling Entertainment Inc, Cl A		18,467		1,871
Yelp Inc, Cl A *		23,286		780
Ziff Davis Inc *		32,639		1,927

				97,467
Consumer Discretionary — 10.6%
Academy Sports & Outdoors Inc		9,255		453
Airbnb Inc, Cl A *		2,471		271
Amazon.com Inc *		72,586		8,752
AutoZone Inc *		2,242		5,351
Bath & Body Works Inc		86,760		3,057
Booking Holdings Inc *		1,181		2,963
Boyd Gaming Corp		16,051		1,023
Chipotle Mexican Grill Inc, Cl A *		1,000		2,077
Choice Hotels International Inc		3,077		349
Crocs Inc *		12,265		1,377


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Dillard's Inc, Cl A		479	$	132
Domino's Pizza Inc		5,804		1,682
DraftKings Inc, Cl A *		15,000		350
eBay Inc		120,160		5,112
Ethan Allen Interiors Inc		15,058		377
Ford Motor Co		54,024		648
General Motors Co		156,213		5,063
Genuine Parts Co		24,520		3,652
Goodyear Tire & Rubber Co/The *		129,685		1,781
Graham Holdings Co, Cl B		2,765		1,562
Grand Canyon Education Inc *		954		100
H&R Block Inc		88,744		2,649
Harley-Davidson Inc		21,958		683
Home Depot Inc/The		4,149		1,176
International Game Technology PLC		54,878		1,346
Lennar Corp, Cl A		36,714		3,933
Lennar Corp, Cl B		10,285		972
Lululemon Athletica Inc *		5,843		1,940
M/I Homes Inc *		14,720		1,040
Macy's Inc		75,757		1,030
Marriott International Inc/MD, Cl A		4,022		675
McDonald's Corp		8,928		2,545
Meritage Homes Corp		15,367		1,772
Murphy USA Inc		699		193
NIKE Inc, Cl B		11,608		1,222
NVR Inc *		100		555
O'Reilly Automotive Inc *		4,387		3,963
Oxford Industries Inc		4,232		423
PulteGroup Inc		46,339		3,062
PVH Corp		17,298		1,488
Sally Beauty Holdings Inc *		27,975		315
Skechers USA Inc, Cl A *		41,800		2,147
Starbucks Corp		14,459		1,412
Tapestry Inc		114,309		4,575
Taylor Morrison Home Corp, Cl A *		83,830		3,557
Tesla Inc *		8,631		1,760
Toll Brothers Inc		78,979		5,347
Tractor Supply Co		3,344		701
Tri Pointe Homes Inc *		126,790		3,704
Ulta Beauty Inc *		6,971		2,857
Urban Outfitters Inc *		35,667		1,099
Vista Outdoor Inc *		38,810		1,034
Whirlpool Corp		2,527		327
Williams-Sonoma Inc		3,834		435
Yum! Brands Inc		20,370		2,621

				108,690
Consumer Staples — 8.2%
Altria Group Inc		149,357		6,634
Archer-Daniels-Midland Co		9,583		677
BellRing Brands Inc *		45,800		1,677
Brown-Forman Corp, Cl A		1,480		93
Brown-Forman Corp, Cl B		5,830		360


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Bunge Ltd		18,741	$	1,736
Cal-Maine Foods Inc		20,935		995
Campbell Soup Co		6,462		327
Casey's General Stores Inc		1,259		284
Church & Dwight Co Inc		6,555		606
Coca-Cola Co/The		53,944		3,218
Colgate-Palmolive Co		78,835		5,864
Conagra Brands Inc		16,154		563
Costco Wholesale Corp		1,459		746
Edgewell Personal Care Co		13,600		530
elf Beauty Inc *		20,455		2,128
Estee Lauder Cos Inc/The, Cl A		2,809		517
Flowers Foods Inc		5,670		142
General Mills Inc		54,794		4,612
Hershey Co/The		14,454		3,754
Hostess Brands Inc, Cl A *		16,651		414
Ingles Markets Inc, Cl A		3,149		253
Ingredion Inc		2,153		225
Inter Parfums Inc		7,428		933
J M Smucker Co/The		3,499		513
Keurig Dr Pepper Inc		7,207		224
Kraft Heinz Co/The		98,015		3,746
Kroger Co/The		47,358		2,147
Lamb Weston Holdings Inc		39,548		4,398
Molson Coors Beverage Co, Cl B		2,874		178
Mondelez International Inc, Cl A		55,486		4,073
Monster Beverage Corp *		4,918		288
PepsiCo Inc		70,948		12,937
Philip Morris International Inc		32,007		2,881
Primo Water Corp		12,038		155
Procter & Gamble Co/The		31,042		4,424
Tyson Foods Inc, Cl A		8,361		423
Walgreens Boots Alliance Inc		183,379		5,569
Walmart Inc		29,343		4,310

				83,554
Energy — 2.3%
California Resources Corp		13,040		489
Chevron Corp		8,994		1,355
Chord Energy Corp		5,981		855
CNX Resources Corp *		102,304		1,581
EQT Corp		24,955		868
Exxon Mobil Corp		43,791		4,475
Gulfport Energy Corp *		2,523		245
Halliburton Co		72,263		2,070
Marathon Petroleum Corp		4,156		436
PBF Energy Inc, Cl A		56,314		2,073
Schlumberger		73,805		3,161
Scorpio Tankers Inc		13,545		620
SFL Corp Ltd		31,893		274
Tidewater Inc *		19,615		879
Valaris Ltd *		18,661		1,077
Valero Energy Corp		27,770		2,972


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Weatherford International PLC *		9,185	$	518

				23,948
Financials — 9.8%
Affiliated Managers Group Inc		24,102		3,352
Aflac Inc		58,018		3,725
AGNC Investment Corp ^‡		317,808		2,921
Allstate Corp/The		18,064		1,959
Ally Financial Inc		165,642		4,418
American Financial Group Inc/OH		2,071		232
American International Group Inc		23,053		1,218
Ameriprise Financial Inc		705		210
Bank of NT Butterfield & Son Ltd/The		27,788		697
Bank OZK		18,760		649
Berkshire Hathaway Inc, Cl B *		1,322		424
BGC Partners Inc, Cl A		133,065		542
Blackstone Inc		1,891		162
Brighthouse Financial Inc *		60,816		2,448
Capital One Financial Corp		68,266		7,114
Citigroup Inc		117,079		5,189
Credit Acceptance Corp *		585		261
Discover Financial Services		5,163		530
Donnelley Financial Solutions Inc *		20,531		911
Everest Re Group Ltd		5,010		1,703
F&G Annuities & Life Inc		501		10
FactSet Research Systems Inc		4,319		1,662
Federal Agricultural Mortgage Corp, Cl C		3,835		513
Fiserv Inc *		24,666		2,767
Flywire Corp *		11,600		348
Genworth Financial Inc, Cl A *		353,638		1,892
Hanover Insurance Group Inc/The		4,978		555
Houlihan Lokey Inc, Cl A		1,261		110
Jackson Financial Inc, Cl A		53,985		1,495
Janus Henderson Group PLC		21,979		578
Jefferies Financial Group Inc		14,722		443
Kinsale Capital Group Inc		6,008		1,820
Mastercard Inc, Cl A		7,319		2,672
MetLife Inc		54,060		2,679
MFA Financial Inc ^‡		74,438		788
MSCI Inc, Cl A		8,526		4,012
Navient Corp		60,699		920
Nelnet Inc, Cl A		425		39
Popular Inc		78,115		4,467
Principal Financial Group Inc		27,322		1,788
Remitly Global Inc *		19,540		358
Shift4 Payments Inc, Cl A *		7,142		448
SiriusPoint Ltd *		53,558		499
SLM Corp		143,404		2,188
Synchrony Financial		171,466		5,309
Travelers Cos Inc/The		24,584		4,161
Unum Group *		42,006		1,825
Virtu Financial Inc, Cl A		15,999		281
Visa Inc, Cl A		24,973		5,520


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Voya Financial Inc		10,341	$	701
W R Berkley Corp		5,956		332
Wells Fargo & Co		168,691		6,716
Western Union Co/The		283,727		3,232

				99,793
Health Care — 14.4%
Abbott Laboratories		10,664		1,088
AbbVie Inc		52,820		7,287
Agilent Technologies Inc		1,306		151
AmerisourceBergen Corp		47,353		8,057
Amgen		6,823		1,505
Axonics Inc *		1,690		82
Boston Scientific Corp *		13,356		687
Bristol-Myers Squibb Co		81,932		5,280
Bruker Corp		1,156		80
Cardinal Health Inc		115,676		9,520
Centene Corp *		48,161		3,006
Cigna Group		29,806		7,374
CONMED Corp		6,100		740
CVS Health Corp		88,772		6,039
Danaher Corp		3,493		802
Edwards Lifesciences Corp *		20,268		1,707
Eli Lilly & Co		10,904		4,683
Embecta Corp		27,352		757
Evolent Health Inc, Cl A *		18,050		526
Gilead Sciences Inc		107,959		8,306
Haemonetics Corp *		7,519		636
Henry Schein Inc *		4,242		313
Hologic Inc *		29,595		2,335
Humana Inc		8,603		4,318
Intuitive Surgical Inc *		8,325		2,563
IQVIA Holdings Inc *		1,801		355
IVERIC bio Inc *		6,364		240
Johnson & Johnson		59,569		9,237
Laboratory Corp of America Holdings		8,034		1,707
Lantheus Holdings Inc *		15,582		1,349
Madrigal Pharmaceuticals Inc *		1,494		416
Masimo Corp *		6,291		1,018
McKesson Corp		23,584		9,218
Medpace Holdings Inc *		10,506		2,174
Merck & Co Inc		71,264		7,868
Merit Medical Systems Inc *		5,583		460
Mettler-Toledo International Inc *		1,963		2,595
Organon & Co		81,773		1,586
Owens & Minor Inc *		16,921		344
Pediatrix Medical Group Inc *		18,629		248
Penumbra Inc *		3,200		983
Pfizer Inc		74,635		2,838
Premier Inc, Cl A		4,049		101
Prestige Consumer Healthcare Inc *		2,596		149
Quest Diagnostics Inc		31,165		4,134
Regeneron Pharmaceuticals Inc *		1,153		848


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
ResMed Inc		360	$	76
Revance Therapeutics Inc *		15,444		472
Royalty Pharma PLC, Cl A		12,464		408
Stryker Corp		5,512		1,519
Supernus Pharmaceuticals Inc *		2,456		81
Thermo Fisher Scientific Inc		6,140		3,122
UnitedHealth Group Inc		11,827		5,763
Veeva Systems Inc, Cl A *		3,542		587
Vertex Pharmaceuticals Inc *		6,721		2,175
Viatris Inc		473,836		4,336
Waters Corp *		7,278		1,828
Zoetis Inc, Cl A		2,521		411

				146,488
Industrials — 10.0%
3M Co		63,089		5,887
ACCO Brands Corp		65,279		316
Allied Motion Technologies Inc		5,682		193
American Airlines Group Inc *		298,838		4,417
Automatic Data Processing Inc		5,678		1,187
Axon Enterprise Inc *		3,415		659
Boise Cascade Co		22,510		1,617
Booz Allen Hamilton Holding Corp, Cl A		10,969		1,103
Builders FirstSource Inc *		29,180		3,383
Carlisle Cos Inc		1,498		318
Ceridian HCM Holding Inc *		41,721		2,580
CH Robinson Worldwide Inc		23,467		2,219
Cintas Corp		10,819		5,108
Clean Harbors Inc *		21,845		3,067
Comfort Systems USA Inc		14,138		2,092
Conduent Inc *		85,693		260
Copart Inc *		48,681		4,264
Costamare Inc		34,658		268
CSG Systems International Inc		951		46
Deluxe Corp		30,932		471
Donaldson Co Inc		3,777		221
Dover Corp		3,899		520
EMCOR Group Inc		6,050		997
Encore Wire Corp		13,816		2,261
ExlService Holdings Inc *		5,201		785
Expeditors International of Washington Inc		20,222		2,231
Fastenal Co		41,393		2,229
FTI Consulting Inc *		443		83
General Electric Co		34,214		3,474
Genpact Ltd		5,296		195
Graco Inc		25,438		1,946
Honeywell International Inc		3,025		580
Hubbell Inc, Cl B		673		190
IDEX Corp		2,197		438
Illinois Tool Works Inc		11,655		2,549
Landstar System Inc		7,976		1,399
Lockheed Martin Corp		2,019		896
ManpowerGroup Inc		28,914		2,029


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Masco Corp		22,859	$	1,104
MSC Industrial Direct Co Inc, Cl A		1,589		143
Mueller Industries Inc		58,007		4,308
Otis Worldwide Corp		25,608		2,036
PACCAR Inc		9,392		646
Parker-Hannifin Corp		10,764		3,449
Paychex Inc		44,188		4,637
Paylocity Holding Corp *		855		148
Republic Services Inc, Cl A		959		136
Robert Half International Inc		22,303		1,450
Rollins Inc		46,414		1,825
Ryder System Inc		35,822		2,824
Science Applications International Corp		9,198		895
Snap-on Inc		9,381		2,335
SPX Technologies Inc *		10,025		765
Textainer Group Holdings Ltd		9,897		351
Toro Co/The		3,152		308
Trane Technologies PLC		15,846		2,586
United Parcel Service Inc, Cl B		3,087		515
Verisk Analytics Inc, Cl A		7,560		1,656
Waste Management Inc		4,402		713
WESCO International Inc		6,162		846
WillScot Mobile Mini Holdings Corp, Cl A *		5,052		218
WW Grainger Inc		8,132		5,278
Xylem Inc/NY		4,394		440

				102,090
Information Technology — 28.9%
Accenture PLC, Cl A		4,775		1,461
Adobe Inc *		5,991		2,503
Advanced Micro Devices Inc *		7,281		861
Alpha & Omega Semiconductor Ltd *		14,515		402
Amdocs Ltd		66,338		6,247
Amkor Technology Inc		112,318		2,783
Amphenol Corp, Cl A		9,309		702
Apple Inc		287,887		51,028
Arista Networks Inc *		18,841		3,134
Arrow Electronics Inc *		34,264		4,339
Asana Inc, Cl A *		31,353		749
Autodesk Inc *		4,848		967
Avnet Inc		52,471		2,300
Axcelis Technologies Inc *		13,525		2,131
Badger Meter Inc		4,088		564
Belden Inc		18,288		1,600
Box Inc, Cl A *		49,489		1,394
Broadcom Inc		14,704		11,880
Cadence Design Systems Inc *		29,564		6,827
Cisco Systems Inc		63,408		3,149
Cognizant Technology Solutions Corp, Cl A		50,881		3,180
CommScope Holding Co Inc *		113,986		474
Consensus Cloud Solutions Inc *		11,449		417
Crowdstrike Holdings Inc, Cl A *		3,287		526
Datadog Inc, Cl A *		10,806		1,026


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Dolby Laboratories Inc, Cl A		13,548	$	1,118
DoubleVerify Holdings Inc *		1,544		54
Dropbox Inc, Cl A *		254,134		5,850
DXC Technology Co *		132,692		3,321
Dynatrace Inc *		3,482		178
Extreme Networks Inc *		143,670		2,960
F5 Inc *		2,051		303
Fair Isaac Corp *		6,097		4,802
Fortinet Inc *		49,622		3,391
Gartner Inc *		12,720		4,361
Gen Digital Inc		277,211		4,862
HP Inc		198,652		5,773
HubSpot Inc *		6,304		3,265
Intapp Inc *		6,132		259
Intel Corp		136,534		4,293
InterDigital Inc		16,701		1,387
International Business Machines Corp		61,474		7,905
Intuit Inc		2,346		983
Jabil Inc		88,182		7,894
Juniper Networks Inc		24,903		756
Keysight Technologies Inc *		12,863		2,081
KLA Corp		1,654		733
Kulicke & Soffa Industries Inc		19,808		1,047
Manhattan Associates Inc *		30,871		5,601
Microsoft Corp		148,123		48,642
Motorola Solutions Inc		3,357		946
NCR Corp *		89,962		2,132
NetApp Inc		22,645		1,503
New Relic Inc *		5,954		419
NVIDIA Corp		29,837		11,289
ON Semiconductor Corp *		55,155		4,611
Oracle Corp		112,332		11,900
Palo Alto Networks Inc *		20,059		4,280
Progress Software Corp		23,656		1,419
Pure Storage Inc, Cl A *		34,300		988
QUALCOMM Inc		14,091		1,598
Qualys Inc *		4,648		587
Rambus Inc *		46,578		2,979
RingCentral Inc, Cl A *		30,483		1,058
Salesforce Inc *		3,460		773
Sanmina Corp *		43,429		2,303
Skyworks Solutions Inc		10,603		1,098
Super Micro Computer Inc *		2,300		515
Synopsys Inc *		765		348
TD SYNNEX Corp		5,744		513
Teradata Corp *		66,596		3,121
Teradyne Inc		8,182		820
Texas Instruments Inc		16,636		2,893
VeriSign Inc *		11,630		2,597
Vishay Intertechnology Inc		70,479		1,817

				294,970


Description	Shares		Market Value ($ Thousands)
COMMON STOCK^†^† (continued)
Materials — 1.8%
Alcoa Corp		28,952	$	918
Avery Dennison Corp		2,427		391
Berry Global Group Inc		25,304		1,448
Chemours Co/The		27,822		737
Corteva Inc		47,179		2,524
Graphic Packaging Holding Co		79,168		1,892
International Paper Co		141,219		4,157
Livent Corp *		7,219		166
NewMarket Corp		152		59
O-I Glass Inc *		66,196		1,372
Orion Engineered Carbons SA		25,726		597
Reliance Steel & Aluminum Co		2,006		471
Sealed Air Corp		4,181		158
Silgan Holdings Inc		38,810		1,746
Sonoco Products Co		2,692		161
United States Steel Corp		66,365		1,388
Warrior Met Coal Inc		17,620		578

				18,763
Real Estate — 0.9%
Anywhere Real Estate Inc *		74,593		453
CBRE Group Inc, Cl A *		26,627		1,995
EastGroup Properties Inc ^‡		2,326		383
Extra Space Storage Inc ^‡		12,225		1,764
Jones Lang LaSalle Inc *		7,442		1,044
Marcus & Millichap Inc		6,574		193
Prologis Inc ^‡		14,048		1,749
Public Storage ^‡		6,755		1,914

				9,495
Utilities — 2.5%
AES Corp/The		84,349		1,665
American Water Works Co Inc		3,287		475
Atmos Energy Corp		10,416		1,201
CenterPoint Energy Inc		18,956		535
Entergy Corp		17,959		1,763
Exelon Corp		9,664		383
National Fuel Gas Co		2,831		144
NextEra Energy Inc		16,290		1,197
NRG Energy Inc		7,459		252
PG&E Corp *		425,152		7,202
PPL Corp		212,779		5,575
Sempra Energy		18,333		2,631
Southern Co/The		35,011		2,442
UGI Corp		6,230		174

				25,639
Total Common Stock
(Cost $879,093) ($ Thousands)				1,010,897

A list of the open future contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on a Net Assets of $1,020,867 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^‡	Real Estate Investment Trust.
^†	Investment in Affiliated Security (see Note 6).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

1,010,897

–

1,010,897

Cash Equivalent

8,262

–

8,262

Total Investments in Securities

1,019,159

–

1,019,159

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

–

Total Other Financial Instruments

–

Future contracts are valued at the unrealized appreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 97.6%

Communication Services — 6.4%
AT&T Inc		560,300	$	8,813
ATN International Inc		2,629		99
Comcast Corp, Cl A		193,300		7,606
Fox Corp		81,900		2,555
Madison Square Garden Sports Corp, Cl A *		8,136		1,437
Netflix Inc *		10,385		4,104
Nippon Telegraph & Telephone Corp ADR		106,300		3,022
Omnicom Group Inc		34,200		3,016
Ooma Inc *		5,025		67
Playstudios Inc *		25,925		117
Scholastic Corp		1,875		80
Shutterstock Inc		4,554		227
Sirius XM Holdings Inc (A)		346,059		1,232
SK Telecom Co Ltd ADR (A)		86,124		1,800
Spotify Technology SA *		10,791		1,607
TEGNA Inc		148,000		2,293
T-Mobile US Inc *		765		105
Verizon Communications Inc		337,800		12,036

				50,216
Consumer Discretionary — 6.4%
AutoZone Inc *		4,502		10,745
Canadian Tire Corp Ltd, Cl A		23,900		2,867
Domino's Pizza Inc		4,394		1,274
eBay Inc		72,064		3,066
Frontdoor Inc *		1,176		36
Gentex Corp		30,550		802
Graham Holdings Co, Cl B		369		208
Grand Canyon Education Inc *		31,342		3,283
H&R Block Inc		123,465		3,685
Honda Motor Co Ltd ADR		112,200		3,188
Lowe's Cos Inc		12,100		2,434
Murphy USA Inc		9,400		2,598
O'Reilly Automotive Inc *		6,039		5,455
Papa John's International Inc		225		16


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Perdoceo Education Corp *		35,401	$	417
Service Corp International/US		31,000		1,972
Toyota Motor Corp ADR (A)		12,200		1,661
Whirlpool Corp		19,700		2,547
Winmark Corp		511		167
Yum! Brands Inc		25,360		3,264

				49,685
Consumer Staples — 17.7%
Altria Group Inc		137,149		6,092
Archer-Daniels-Midland Co		68,215		4,819
BJ's Wholesale Club Holdings Inc *		28,017		1,755
Boston Beer Co Inc/The, Cl A *		2,862		966
Brown-Forman Corp, Cl B		41,471		2,562
Calavo Growers Inc		10,471		339
Cal-Maine Foods Inc		10,722		510
Campbell Soup Co		110,011		5,561
Church & Dwight Co Inc		32,102		2,968
Clorox Co/The		23,430		3,706
Colgate-Palmolive Co		50,802		3,779
Conagra Brands Inc		273,618		9,541
Dollar General Corp		13,223		2,659
Flowers Foods Inc		155,291		3,879
Fresh Del Monte Produce Inc		6,422		169
General Mills Inc		105,053		8,841
Hain Celestial Group Inc/The *		10,524		129
Herbalife Ltd *		31,763		376
Hershey Co/The		126		33
Hormel Foods Corp		50,362		1,926
Hostess Brands Inc, Cl A *		20,381		507
Ingles Markets Inc, Cl A		6,332		508
Ingredion Inc		54,963		5,749
J & J Snack Foods Corp		4,660		717
J M Smucker Co/The		67,548		9,902
John B Sanfilippo & Son Inc		5,634		655
Kellogg Co		146,619		9,790
Keurig Dr Pepper Inc		2,793		87
Kimberly-Clark Corp		12,048		1,618
Kraft Heinz Co/The		198,800		7,598
Kroger Co/The		246,200		11,160
Lancaster Colony Corp		3,100		609
Molson Coors Beverage Co, Cl B		132,800		8,214
Mondelez International Inc, Cl A		7,247		532
Monster Beverage Corp *		14,042		823
National Beverage Corp *		3,552		176
Nature's Sunshine Products Inc *		2,140		24
PepsiCo Inc		1,021		186
Philip Morris International Inc		18,836		1,695
Pilgrim's Pride Corp *		95,034		2,110
Post Holdings Inc *		21,627		1,838
PriceSmart Inc		2,079		151
Procter & Gamble Co/The		12,591		1,794
Reynolds Consumer Products Inc		60,798		1,668


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Seaboard Corp		90	$	342
Seneca Foods Corp, Cl A *		3,444		159
Simply Good Foods Co/The *		3,134		113
SpartanNash Co		5,153		118
Tootsie Roll Industries Inc		9,924		388
TreeHouse Foods Inc *		8,406		398
Tyson Foods Inc, Cl A		35,051		1,775
USANA Health Sciences Inc *		6,330		384
Vector Group Ltd		30,654		359
Village Super Market Inc, Cl A		11,848		246
Vita Coco Co Inc/The *		11,849		316
Vital Farms Inc *		23,498		341
Walmart Inc		28,180		4,139
WD-40 Co		259		49
Weis Markets Inc		7,369		439

				138,287
Energy — 3.2%
Chesapeake Energy Corp		66,106		4,975
Chevron Corp		51,400		7,742
DT Midstream Inc		54,800		2,491
Exxon Mobil Corp		88,200		9,012
Southwestern Energy Co *		38,647		184
Teekay Corp *		19,048		107
Teekay Tankers Ltd, Cl A		5,254		190

				24,701
Financials — 11.2%
AFC Gamma Inc ^‡		3,364		38
Aflac Inc		148,200		9,516
Allstate Corp/The		21,200		2,299
American Financial Group Inc/OH		32,000		3,593
AMERISAFE Inc		390		20
Aon PLC, Cl A		918		283
AssetMark Financial Holdings Inc *		10,527		295
Bank First Corp (A)		1,833		139
Bank of New York Mellon Corp/The		155,100		6,235
Bankwell Financial Group Inc		870		20
Berkshire Hathaway Inc, Cl B *		16,500		5,298
BGC Partners Inc, Cl A		4,335		18
Blue Foundry Bancorp *		3,752		35
BOK Financial Corp		10,312		838
Byline Bancorp Inc		5,719		101
Canadian Imperial Bank of Commerce		65,300		2,689
Cboe Global Markets Inc		22,496		2,979
Chubb Ltd		2,251		418
Columbia Financial Inc *		11,714		189
Community Bank System Inc		2,570		127
Community Trust Bancorp Inc		524		18
Donegal Group Inc, Cl A		8,425		121
Employers Holdings Inc		4,847		175
Erie Indemnity Co, Cl A		15,994		3,424
Everest Re Group Ltd		18,711		6,362


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
FleetCor Technologies Inc *		7,372	$	1,670
Greenlight Capital Re Ltd, Cl A *		27,672		266
Hanover Insurance Group Inc/The		23,230		2,589
Hartford Financial Services Group Inc/The		110,700		7,585
Horace Mann Educators Corp		4,881		147
Independent Bank Corp/MI		899		15
James River Group Holdings Ltd		9,922		190
Loblaw Cos Ltd		52,500		4,584
MarketAxess Holdings Inc		1,412		385
Marsh & McLennan Cos Inc		14,685		2,543
Mercantile Bank Corp		3,146		82
MetLife Inc		56,300		2,790
Morningstar Inc		228		47
Northeast Bank		2,170		78
OceanFirst Financial Corp		73,400		1,042
Orrstown Financial Services Inc		776		14
Progressive Corp/The		6,588		843
Reinsurance Group of America Inc, Cl A		1,365		191
RLI Corp		3,350		415
Safety Insurance Group Inc		5,092		371
SiriusPoint Ltd *		2,154		20
Towne Bank/Portsmouth VA		22,100		514
Travelers Cos Inc/The		17,300		2,928
Unity Bancorp Inc		1,013		23
Virtu Financial Inc, Cl A		26,651		469
W R Berkley Corp		63,971		3,562
Washington Federal Inc		73,200		1,904
Westamerica BanCorp		4,896		185
Western Union Co/The		526,057		5,992
Willis Towers Watson PLC		3,950		864

				87,538
Health Care — 19.6%
Abbott Laboratories		7,179		732
AbbVie Inc		22,700		3,132
ADMA Biologics Inc *		23,289		95
Agilent Technologies Inc		12,013		1,390
Alkermes PLC *		3,550		103
Amgen		47,900		10,569
Amicus Therapeutics Inc *		9,323		105
Amneal Pharmaceuticals Inc *		60,843		142
Amylyx Pharmaceuticals Inc *		2,567		63
Anika Therapeutics Inc *		12,242		332
Arcturus Therapeutics Holdings Inc *		5,524		151
Aurinia Pharmaceuticals Inc *		1,568		14
Avanos Medical Inc *		9,478		232
Avid Bioservices Inc *		9,909		153
Becton Dickinson		13,613		3,291
Bio-Techne Corp		8,980		734
Bristol-Myers Squibb Co		215,900		13,913
Bruker Corp		2,148		148
Cardinal Health Inc		34,000		2,798
Catalyst Pharmaceuticals Inc *		18,364		212


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Cigna Group		4,761	$	1,178
Computer Programs and Systems Inc *		5,458		130
CVS Health Corp		138,345		9,412
DaVita Inc *		9,783		916
Deciphera Pharmaceuticals Inc *		21,795		294
Eagle Pharmaceuticals Inc/DE *		8,617		179
Elevance Health Inc		7,129		3,192
Exelixis Inc *		162,331		3,130
Gilead Sciences Inc		224,939		17,307
Haemonetics Corp *		2,951		250
Halozyme Therapeutics Inc *		8,574		278
Harmony Biosciences Holdings Inc *		4,288		148
HealthStream Inc		2,917		67
Hologic Inc *		30,830		2,432
Humana Inc		8,416		4,224
Incyte Corp *		41,705		2,567
Innoviva Inc *		31,539		425
iRadimed Corp *		2,569		121
Ironwood Pharmaceuticals Inc, Cl A *		12,580		137
Jazz Pharmaceuticals PLC *		28,973		3,713
Johnson & Johnson		31,800		4,931
Kiniksa Pharmaceuticals Ltd, Cl A *		30,348		421
Laboratory Corp of America Holdings		14,500		3,082
LeMaitre Vascular Inc		1,228		77
Ligand Pharmaceuticals Inc *		979		69
Masimo Corp *		4,489		726
McKesson Corp		17,300		6,762
Medpace Holdings Inc *		1,511		313
Merck & Co Inc		108,800		12,013
Merit Medical Systems Inc *		1,339		110
Mesa Laboratories Inc		649		84
Mettler-Toledo International Inc *		707		935
Mirum Pharmaceuticals Inc *		7,887		207
National HealthCare Corp		3,237		196
Neurocrine Biosciences Inc *		41,768		3,739
Organogenesis Holdings Inc, Cl A *		37,002		134
Organon & Co		119,998		2,327
Patterson Cos Inc		7,601		199
Pediatrix Medical Group Inc *		1,242		17
PetIQ Inc, Cl A *		8,608		110
Pfizer Inc		226,920		8,627
Phibro Animal Health Corp, Cl A		14,404		192
Point Biopharma Global Inc, Cl A *		9,804		91
Premier Inc, Cl A		18,194		455
Prestige Consumer Healthcare Inc *		2,407		138
QIAGEN NV *		58,698		2,651
Quest Diagnostics Inc		30,555		4,053
Regeneron Pharmaceuticals Inc *		2,214		1,629
Revance Therapeutics Inc *		2,725		83
Revvity Inc		2,678		309
Sage Therapeutics Inc *		3,369		167
SIGA Technologies Inc *		5,170		29


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Supernus Pharmaceuticals Inc *		8,225	$	273
TransMedics Group Inc *		2,935		213
UFP Technologies Inc *		1,968		304
United Therapeutics Corp *		6,901		1,447
Waters Corp *		8,961		2,251
West Pharmaceutical Services Inc		8,838		2,957
Zimmer Biomet Holdings Inc		19,795		2,521
Zynex Inc *(A)		10,794		101

				153,352
Industrials — 9.3%
3M Co		14,088		1,315
Allison Transmission Holdings Inc		169,398		8,013
Alta Equipment Group Inc		2,206		30
Barrett Business Services Inc		3,681		309
Booz Allen Hamilton Holding Corp, Cl A		20,553		2,067
BWX Technologies Inc		12,141		732
Casella Waste Systems Inc, Cl A *		4,112		371
CH Robinson Worldwide Inc		10,445		987
Cintas Corp		1,045		493
CSG Systems International Inc		104,702		5,024
Cummins Inc		31,900		6,521
Donaldson Co Inc		22,614		1,324
Dun & Bradstreet Holdings Inc		25,974		260
Enerpac Tool Group Corp, Cl A		23,112		588
Ennis Inc		19,489		378
Exponent Inc		409		37
FTI Consulting Inc *		1,235		232
General Dynamics Corp		7,389		1,509
Genpact Ltd		30,381		1,117
Golden Ocean Group Ltd (A)		42,298		299
Huntington Ingalls Industries Inc		17,452		3,514
IBEX Holdings Ltd *		7,961		163
L3Harris Technologies Inc		1,140		201
Landstar System Inc		3,428		601
Leidos Holdings Inc		2,739		214
Lennox International Inc		3,003		827
Lockheed Martin Corp		17,942		7,966
ManpowerGroup Inc		10,799		758
Marten Transport Ltd		1,592		34
MSC Industrial Direct Co Inc, Cl A		2,434		219
National Presto Industries Inc		5,655		422
Northrop Grumman Corp		8,726		3,800
Otis Worldwide Corp		28,177		2,240
Preformed Line Products Co		509		78
Resources Connection Inc		1,308		20
Rollins Inc		73,867		2,904
Schneider National Inc, Cl B		158,694		4,113
Science Applications International Corp		36,800		3,582
Snap-on Inc		23,500		5,848
SS&C Technologies Holdings Inc		7,008		385


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Werner Enterprises Inc		72,200	$	3,171

				72,666
Information Technology — 13.3%
A10 Networks Inc		21,076		314
ACI Worldwide Inc *		9,734		222
Adeia Inc		8,492		83
Adobe Inc *		721		301
Amdocs Ltd		165,160		15,553
American Software Inc/GA, Cl A		9,251		118
Appfolio Inc, Cl A *		653		94
Arrow Electronics Inc *		38,100		4,825
Avnet Inc		95,600		4,191
Benchmark Electronics Inc		13,134		310
Brightcove Inc *		40,572		170
Canon Inc ADR		118,860		2,933
Cirrus Logic Inc *		374		29
Cisco Systems Inc		240,100		11,926
Dell Technologies Inc, Cl C		38,100		1,707
Diodes Inc *		541		49
Dolby Laboratories Inc, Cl A		19,974		1,648
DoubleVerify Holdings Inc *		9,859		344
Dropbox Inc, Cl A *		59,961		1,380
eGain Corp *		5,975		43
EPAM Systems Inc *		6,667		1,711
Fair Isaac Corp *		1,805		1,422
Fortinet Inc *		4,223		289
Gen Digital Inc		120,782		2,119
GoDaddy Inc, Cl A *		1,826		134
Hackett Group Inc/The		7,345		142
Hewlett Packard Enterprise Co		321,700		4,639
Intel Corp		308,100		9,687
InterDigital Inc		3,207		266
International Business Machines Corp		88,000		11,316
Juniper Networks Inc		8,869		269
Kimball Electronics Inc *		7,152		177
LiveRamp Holdings Inc *		12,578		306
Manhattan Associates Inc *		10,790		1,958
Mitek Systems Inc *		11,110		116
Oracle Corp		101,100		10,711
OSI Systems Inc *		26,213		3,120
Photronics Inc *		1,200		25
Progress Software Corp		8,249		495
PTC Inc *		16,464		2,213
Qualys Inc *		1,527		193
Sanmina Corp *		1,513		80
Sapiens International Corp NV		20,022		497
ScanSource Inc *		2,370		68
Skyworks Solutions Inc		13,583		1,406
SoundThinking Inc *		3,614		92
Synopsys Inc *		2,636		1,199
Teradata Corp *		24,889		1,166
VeriSign Inc *		3,277		732


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Vishay Intertechnology Inc		7,134	$	184
Vishay Precision Group Inc *		10,101		353
Yext Inc *		38,345		352

				103,677
Materials — 4.8%
Balchem Corp		2,163		267
Berry Global Group Inc		85,568		4,895
Coeur Mining Inc *		4,895		15
FutureFuel Corp		15,767		134
Graphic Packaging Holding Co		101,500		2,426
Innospec Inc		734		68
International Paper Co		67,900		1,999
Myers Industries Inc		9,733		182
NewMarket Corp		25,412		9,906
Reliance Steel & Aluminum Co		15,000		3,520
Sealed Air Corp		40,100		1,518
Silgan Holdings Inc		132,680		5,969
Sonoco Products Co		64,500		3,861
Southern Copper Corp		12,165		812
SSR Mining Inc (A)		118,393		1,749

				37,321
Real Estate — 1.2%
Agree Realty Corp ^‡		2,376		153
American Tower Corp, Cl A ^‡		12,002		2,214
Apartment Income REIT Corp ^‡		46,319		1,607
Crown Castle Inc ^‡		1,138		129
Easterly Government Properties Inc, Cl A ^‡		29,833		414
Equity Commonwealth *^‡		11,661		238
NETSTREIT Corp ^‡		6,065		106
Omega Healthcare Investors Inc ^‡		6,279		187
Postal Realty Trust Inc, Cl A ^‡		33,180		487
Public Storage ^‡		4,787		1,356
RMR Group Inc/The, Cl A		4,604		99
SBA Communications Corp, Cl A ^‡		8,331		1,848
Universal Health Realty Income Trust ^‡		2,701		118
Weyerhaeuser Co ^‡		21,430		614

				9,570
Utilities — 4.5%
ALLETE Inc		10,132		604
California Water Service Group		9,602		546
Chesapeake Utilities Corp		2,315		296
Clearway Energy Inc, Cl A		710		20
Clearway Energy Inc, Cl C		4,645		133
Consolidated Edison Inc		3,422		319
Constellation Energy Corp		9,093		764
Dominion Energy Inc		3,082		155
DTE Energy Co		4,995		537
Edison International		3,334		225
Entergy Corp		41,423		4,068
Evergy Inc		91,268		5,280
Hawaiian Electric Industries Inc		1,179		42


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Middlesex Water Co		1,004	$	82
National Fuel Gas Co		81,265		4,137
Northwest Natural Holding Co		7,156		306
NorthWestern Corp		1,934		109
OGE Energy Corp		28,979		1,022
ONE Gas Inc		6,569		532
Otter Tail Corp		50,712		3,763
Pinnacle West Capital Corp		20,241		1,564
Portland General Electric Co		2,514		123
PPL Corp		139,600		3,658
Pure Cycle Corp *		5,511		54
SJW Group		1,789		137
Southwest Gas Holdings Inc		3,753		220
Spire Inc		3,151		203
UGI Corp		220,302		6,162
York Water Co/The		2,650		112

				35,173
Total Common Stock
(Cost $675,258) ($ Thousands)				762,186

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

762,186

–

762,186

Affiliated Partnership

–

4,771

–

4,771

Cash Equivalent

14,098

–

14,098

Total Investments in Securities

776,284

4,771

–

781,055

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

–

Total Other Financial Instruments

–

*	Futures contracts are valued at the unrealized appreciation on the instruments.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 97.8%
Australia — 0.3%
Aurizon Holdings Ltd		472,451	$	1,089
JB Hi-Fi Ltd		135,300		3,729
Rio Tinto Ltd		25,812		1,787
Telstra Group		193,813		547
				7,152

Austria — 0.1%
ANDRITZ AG		40,900		2,187
Oberbank AG		175		22
Telekom Austria AG, Cl A		38,558		280
				2,489

Belgium — 0.5%
Ageas SA/NV		123,495		4,915
Anheuser-Busch InBev SA/NV		18,130		965
Etablissements Franz Colruyt NV		56,200		1,857
Solvay SA		32,698		3,404
TINC Comm VA		2,195		28
				11,169

Brazil — 0.1%
Yara International ASA		62,090		2,308

Canada — 3.4%
Bank of Nova Scotia/The		56,900		2,745
BCE Inc		148,181		6,683
Canadian Imperial Bank of Commerce		113,400		4,669
Canadian Tire Corp Ltd, Cl A		59,600		7,149
Canadian Utilities Ltd, Cl A		70,600		1,893
CGI Inc, Cl A *		46,500		4,810
Cogeco Communications Inc		58,200		2,746
Dollarama Inc		1,800		109
Emera Inc		26,500		1,091
Empire Co Ltd, Cl A		152,200		3,876
Fairfax Financial Holdings Ltd		4,500		3,226
George Weston Ltd		15,814		1,858
Great-West Lifeco Inc		172,100		4,866


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Loblaw Cos Ltd		162,300	$	14,172
Metro Inc/CN, Cl A		48,500		2,548
Power Corp of Canada		158,000		4,084
Quebecor Inc, Cl B		197,400		4,701
				71,226

China — 0.3%
CITIC Telecom International Holdings Ltd		872,000		327
Fountain SET Holdings Ltd *		174,279		14
Kerry Logistics Network Ltd		48,965		57
Wilmar International Ltd		1,680,900		4,851
				5,249

Denmark — 0.7%
Carlsberg AS, Cl B		39,946		6,002
Novo Nordisk A/S, Cl B		61,158		9,773
Sparekassen Sjaelland-Fyn A/S		1,199		30
				15,805

Finland — 0.6%
Aspo Oyj		27		–
Elisa Oyj, Cl A		110,586		6,178
Kemira		79,478		1,256
Nordea Bank Abp		29,007		284
Orion Oyj, Cl B		5,030		212
TietoEVRY Oyj		178,507		4,887
				12,817

France — 2.7%
ABC arbitrage		10,682		70
Air Liquide SA		15,285		2,553
Boiron SA		56		2
Bollore SA		318,224		2,032
Bouygues SA (A)		169,200		5,404
Carrefour SA		497,357		9,112
Edenred		7,909		507
Eiffage SA		26,747		2,841
Fountaine Pajot SA		344		42
Legrand SA		2,113		199
Orange SA (A)		1,787,016		21,284
Societe BIC SA (A)		77,200		4,593
TotalEnergies SE		133,400		7,549
Vivendi		40,657		359
				56,547

Germany — 0.7%
Allianz SE		12,800		2,729
Bayerische Motoren Werke AG		45,600		4,955
Deutsche Telekom AG		274,700		6,075
McKesson Europe AG		1,563		40
				13,799

Hong Kong — 1.5%
Bank of East Asia Ltd/The		16,792		21
Chinney Investments Ltd		88,000		13


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
CLP Holdings Ltd		573,680	$	4,181
Dah Sing Banking Group Ltd		58,680		43
HK Electric Investments & HK Electric Investments Ltd		2,674,000		1,609
HKT Trust & HKT Ltd		4,130,000		5,276
Jardine Matheson Holdings Ltd		72,700		3,490
MTR Corp Ltd		453,000		2,086
Nissin Foods Co Ltd		12,716		11
PCCW Ltd		3,158,000		1,614
Power Assets Holdings Ltd		896,500		4,827
Regal Hotels International Holdings Ltd *		20,491		8
SmarTone Telecommunications Holdings Ltd		110,513		63
Sun Hung Kai Properties Ltd		239,000		3,044
Swire Pacific Ltd, Cl A		116,500		778
Taylor Maritime Investments		23,496		24
Transport International Holdings Ltd		13,200		17
VTech Holdings Ltd		62,233		374
WH Group Ltd		8,596,500		4,491
Yue Yuen Industrial Holdings Ltd		22		–
				31,970

Israel — 1.0%
Bank Leumi Le-Israel BM		92,063		644
Bezeq The Israeli Telecommunication Corp Ltd		355,910		445
Check Point Software Technologies Ltd *		109,574		13,676
FIBI Holdings Ltd		9,648		382
First International Bank Of Israel Ltd/The (A)		65,802		2,477
Isracard Ltd		1		–
Nice Ltd *		6,184		1,243
Radware Ltd *		59,034		1,161
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd		16,177		974
Silicom Ltd *		1,294		48
				21,050

Italy — 1.1%
A2A SpA		3,102,200		5,119
Eni SpA		891,800		11,837
Italgas SpA		263,377		1,494
Orsero SpA		2,443		33
Snam SpA		754,171		3,932
TXT e-solutions		3,263		74
UniCredit SpA		9,907		189
				22,678

Japan — 8.7%
Achilles Corp		2,300		23
AGC Inc		132,800		4,838
Ahjikan Co Ltd (A)		5,308		31
Amano Corp		19,900		413
Amiyaki Tei Co Ltd		2,000		49
Anritsu Corp		86,900		747


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Arcs Co Ltd		32,800	$	552
ARTERIA Networks Corp *		4,600		65
Asahi Co Ltd		5,000		44
Asante Inc		5,600		64
Autobacs Seven		21,700		230
Baroque Japan		10,000		59
Belc Co Ltd		4,500		190
Benesse Holdings Inc		44,500		561
Bridgestone Corp		123,700		5,027
Brother Industries Ltd		291,700		4,226
Canon Inc		242,100		5,997
Cawachi Ltd		26,200		405
C'BON COSMETICS Co Ltd		3,200		35
Central Automotive Products Ltd		1,200		27
Choushimaru Co Ltd		7,894		66
Chubu Electric Power Co Inc		412,600		4,911
Chugin Financial Group		20,200		124
Chugoku Marine Paints		9,700		73
CI Takiron		25,400		95
COLOPL Inc *		9,500		45
Computer Engineering & Consulting		14,200		143
Create Medic Co Ltd		2,784		18
Dai Nippon Toryo		4,300		27
Daihatsu Diesel Manufacturing Co Ltd		6,400		29
Doshisha Co Ltd		6,100		92
Earth Corp		12,000		426
Ebara Foods Industry Inc		1,600		33
ENEOS Holdings Inc		1,100,600		3,654
ESTELLE Holdings Co Ltd		6,000		26
Ezaki Glico Co Ltd		41,300		1,088
FJ Next		11,400		81
FTGroup Co Ltd		3,900		28
Fujicco Co Ltd		11,100		148
Fujiya Co Ltd		2,100		37
Fukuda Denshi Co Ltd		800		26
Gakken Holdings Co Ltd		4,300		26
Gakkyusha		6,100		94
Heiwado Co Ltd		48,500		719
Hitachi Ltd		525		30
Hokkan Holdings		5,800		55
Hokuto Corp		24,700		323
Honda Motor Co Ltd		233,100		6,682
House Foods		34,700		812
ITOCHU Corp		95,700		3,234
Itochu Enex Co Ltd		18,000		149
Itochu-Shokuhin Co Ltd		953		35
Japan Tobacco Inc		806,200		17,542
JM Holdings Co Ltd		1,900		26
JSP		14,600		168
Kajima Corp		93,800		1,312
Kaken Pharmaceutical Co Ltd		29,400		736
Kakiyasu Honten Co Ltd *		3,900		64


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kansai Electric Power Co Inc/The		418,200	$	4,777
Kato Sangyo Co Ltd		12,700		349
KDDI Corp		171,500		5,267
Kewpie Corp		20,200		321
Key Coffee Inc		6,400		93
KFC Holdings Japan Ltd		1,400		28
Kinden Corp		267,500		3,490
Kitano Construction Corp		1,300		27
Kohnan Shoji Co Ltd		138,458		3,459
Komeri Co Ltd		22,700		478
K's Holdings Corp		404,800		3,480
Kumagai Gumi Co Ltd		2,200		47
Kyokuyo Co Ltd		4,800		122
Kyorin Pharmaceutical		24,100		299
Kyosan Electric Manufacturing Co Ltd		7,800		24
Lion Corp		60,600		584
Maezawa Kasei Industries		2,400		27
Marvelous		6,600		31
McDonald's Holdings Co Japan Ltd		44,500		1,825
Megmilk Snow Brand Co Ltd		49,700		662
MEIJI Holdings Co Ltd		29,600		662
Ministop Co Ltd		4,200		43
Miroku Jyoho Service Co Ltd		9,400		101
Mitsubishi Corp		30,500		1,219
Mitsubishi Shokuhin Co Ltd		7,400		191
Mitsui & Co Ltd		167,900		5,292
Mitsui Sugar Co Ltd		6,800		124
Miyoshi Oil & Fat Co Ltd		10,118		70
Mizuho Financial Group Inc		716,840		10,533
Mochida Pharmaceutical Co Ltd		7,200		170
Morinaga & Co Ltd/Japan		11,600		368
Morinaga Milk Industry Co Ltd		2,000		71
Morozoff Ltd		2,522		65
MS&AD Insurance Group Holdings Inc		110,500		3,795
Nichirei Corp		24,800		530
Nichirin Co Ltd		4,100		71
Nihon Chouzai Co Ltd		11,100		87
Nihon Denkei Co Ltd		2,500		32
Nikko		7,600		34
Nintendo Co Ltd		50,200		2,133
Nippn Corp		63,800		807
Nippon Air Conditioning Services		5,300		27
NIPPON Investment Corp ^‡		148		345
Nippon Telegraph & Telephone Corp		349,200		9,885
Nisshin Oillio Group Ltd/The		1,449		34
Nissin Foods Holdings Co Ltd		14,000		1,191
Nittoc Construction Co Ltd		10,800		75
Oiles		4,400		59
Okamoto Industries		1,200		33
Okinawa Cellular Telephone Co		10,822		225
Osaki Electric		7,300		28
Otsuka Holdings Co Ltd		64,300		2,381


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
OUG Holdings Inc		2,682	$	46
Ozu Corp		2,400		28
Prima Meat Packers Ltd		4,800		74
Qol Holdings Co Ltd		6,500		73
Raito Kogyo		9,200		126
Ricoh Co Ltd		167,500		1,398
San-A Co Ltd, Cl A		18,400		594
Sanki Engineering		5,900		61
Sankyo Co Ltd		16,700		672
Sanyo Chemical Industries		1,200		34
Seiko Epson Corp		222,200		3,370
Senko Group Holdings Co Ltd		429,100		2,826
Showa Sangyo Co Ltd		13,700		253
SKY Perfect JSAT Holdings Inc		661,600		2,467
Socionext		53,500		6,418
SoftBank Corp		485,600		5,163
Sojitz Corp		449,600		8,994
SRA Holdings		8,100		177
ST Corp		5,400		58
Sugi Holdings Co Ltd		1,800		75
Sundrug Co Ltd		59,800		1,699
Tachibana Eletech		1,400		21
Taisei		46,700		1,482
Takamatsu Construction Group Co Ltd		7,900		130
Takasago International		1,300		23
Takeda Pharmaceutical Co Ltd		63,000		1,993
Teijin Ltd		8,400		78
Tekken		4,000		55
Tenpos Holdings Co Ltd		1,300		22
Tobishima Corp		3,500		30
TOKAI Holdings		55,600		346
Tokyo Gas Co Ltd		66,000		1,402
Tokyo Individualized Educational Institute Inc		11,500		43
Tokyo Seimitsu Co Ltd		20,500		889
Tokyu Construction Co Ltd		16,200		81
Toyo Ink SC Holdings		11,000		169
Trend Micro Inc/Japan *		132,100		6,278
Unicafe Inc		9,700		63
United Super Markets Holdings Inc		98,200		762
Uoriki		1,400		21
Valor Holdings Co Ltd		17,200		235
Vital KSK Holdings Inc		14,300		92
Wowow Inc		10,676		81
Yamaguchi Financial Group Inc		365,000		2,383
Yamaya		2,100		39
Yaoko Co Ltd		13,300		660
Yokorei		9,300		72
Yondoshi Holdings		3,200		40
Zaoh Co Ltd		2,000		31
Zenkoku Hosho Co Ltd		3,000		107


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Zenrin Co Ltd		13,500	$	84
				185,149

Netherlands — 2.6%
Amsterdam Commodities NV		3,399		80
ASR Nederland NV (A)		118,500		5,028
Flow Traders		22,605		521
Koninklijke Ahold Delhaize NV		997,095		31,529
NN Group NV		100,600		3,616
Shell PLC		300,153		8,261
Wolters Kluwer NV		50,205		5,716
				54,751

New Zealand — 0.3%
Freightways Group		14,594		79
Investore Property Ltd ^‡		188		–
Spark New Zealand Ltd		1,878,508		5,810
				5,889

Norway — 0.8%
AF Gruppen ASA		582		7
AMSC		21,922		77
Equinor ASA		32,565		829
Gjensidige Forsikring ASA		1,970		33
Kongsberg Gruppen ASA		22,960		916
Mowi ASA		45,248		774
Orkla ASA		908,250		6,509
Protector Forsikring *		4,108		62
Sparebank 1 Oestlandet		16,398		183
SpareBank 1 SMN		24,874		299
SpareBank 1 Sorost-Norge		1,460		7
Sparebanken More		280		2
Sparebanken Vest		18,795		160
Telenor ASA		604,496		6,184
Veidekke ASA		7,635		71
				16,113

Portugal — 0.4%
Corticeira Amorim SGPS		53,793		564
Jeronimo Martins SGPS SA		323,730		7,793
NOS SGPS SA		29,840		110
REN - Redes Energeticas Nacionais SGPS SA		300,181		802
				9,269

Singapore — 1.4%
DBS Group Holdings Ltd		129,200		2,890
Genting Singapore Ltd		2,555,000		1,905
Great Eastern Holdings Ltd		4,800		60
Jardine Cycle & Carriage Ltd		186,200		4,443
Oversea-Chinese Banking Corp Ltd		1,005,500		9,106
Sheng Siong Group Ltd		1,456,233		1,741
Singapore Airlines Ltd		253,500		1,199
Singapore Exchange Ltd		61,500		421
Singapore Technologies Engineering Ltd		256,600		693
United Overseas Bank Ltd		355,100		7,326


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Venture Corp Ltd		10,800	$	121
				29,905

Spain — 1.2%
Aena SME SA		20,797		3,241
Cia de Distribucion Integral Logista Holdings SA		272,601		6,760
Endesa SA		232,400		5,012
Iberdrola SA		271,041		3,294
Industria de Diseno Textil SA		56,321		1,879
Miquel y Costas & Miquel		2,889		36
Red Electrica Corp SA		330,808		5,588
				25,810

Sweden — 1.1%
Axfood AB		99,416		2,137
Bahnhof, Cl B		2,298		9
Essity AB, Cl B		290,108		7,687
Industrivarden AB, Cl C		38,032		1,014
Svenska Handelsbanken AB, Cl A		492,100		3,877
Swedbank AB, Cl A		383,500		5,851
Volvo, Cl A		44,639		858
Volvo AB, Cl B		68,363		1,258
				22,691

Switzerland — 3.1%
Basellandschaftliche Kantonalbank		120		118
Berner Kantonalbank AG		2,152		553
BKW AG		1,674		299
Emmi AG		705		714
Graubuendner Kantonalbank		61		113
Helvetia Holding AG		24,300		3,437
Huber + Suhner		764		61
Intershop Holding AG		9		6
Investis Holding SA		813		86
Kuehne + Nagel International AG		3,250		921
Luzerner Kantonalbank		5,025		390
Novartis AG		306,135		29,189
PSP Swiss Property AG		30,194		3,230
St. Galler Kantonalbank		1,392		716
Swatch Group AG/The		15,415		862
Swatch Group AG/The, Cl B		2,303		682
Swisscom AG		26,525		16,736
UBS Group AG		395,700		7,463
Vaudoise Assurances Holding		76		36
Walliser Kantonalbank		687		82
Zug Estates Holding, Cl B		34		63
				65,757

United Kingdom — 4.1%
3i Group PLC		174,700		4,234
Aferian PLC		28,544		6
BAE Systems PLC		468,600		5,391
British American Tobacco PLC		192,971		6,110


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Bunzl PLC		65,151	$	2,539
CK Hutchison Holdings Ltd		1,746,000		10,561
Coca-Cola Europacific Partners PLC		54,154		3,379
HSBC Holdings PLC		895,000		6,550
Imperial Brands PLC		609,308		12,800
J Sainsbury PLC		145,693		489
Kingfisher PLC		1,216,400		3,483
Liberty Global PLC, Cl A *		26,106		425
Odfjell Technology		214		1
Polar Capital Holdings		5,123		32
Reckitt Benckiser Group PLC		12,980		1,005
RELX PLC		249,897		7,774
Sage Group PLC/The		752,229		8,120
Shell PLC		114,309		3,192
Spirent Communications PLC		858,688		1,910
Tesco PLC		461,737		1,492
Unilever PLC		132,903		6,637
VH Global Sustainable Energy Opportunities		16,004		19
Vodafone Group PLC		383,255		363
				86,512

United States — 61.1%
AbbVie Inc		12,475		1,721
Advance Auto Parts Inc		30,700		2,238
Aflac Inc		187,889		12,064
Air Products and Chemicals Inc		10,676		2,873
Allison Transmission Holdings Inc		162,700		7,696
Alphabet Inc, Cl A *		40,277		4,949
Alphabet Inc, Cl C *		31,120		3,839
Altria Group Inc		218,318		9,698
Amcor PLC		220,681		2,127
Amdocs Ltd		232,357		21,881
American Electric Power Co Inc		8,877		738
American Financial Group Inc/OH		26,600		2,986
AMETEK Inc		25,102		3,642
Amgen		109,711		24,208
Aon PLC, Cl A		14,117		4,352
Apple Inc		48,443		8,587
AptarGroup Inc		23,285		2,619
Archer-Daniels-Midland Co		100,900		7,129
Arrow Electronics Inc *		65,195		8,256
Ashland Inc		1,327		113
AT&T Inc		1,520,425		23,916
AutoZone Inc *		7,730		18,450
Badger Meter Inc		670		92
Bank of New York Mellon Corp/The		174,714		7,023
Becton Dickinson		27,880		6,740
Berkshire Hathaway Inc, Cl B *		18,683		5,999
Berry Global Group Inc		65,400		3,742
BlackRock TCP Capital Corp		7,211		75
Booz Allen Hamilton Holding Corp, Cl A		35,500		3,571
Box Inc, Cl A *		72,643		2,046
Brady Corp, Cl A		11,747		560


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Bristol-Myers Squibb Co		561,818	$	36,204
CACI International Inc, Cl A *		752		225
Cadence Design Systems Inc *		21,253		4,908
Campbell Soup Co		143,629		7,260
Cardinal Health Inc		61,434		5,056
Casey's General Stores Inc		30,878		6,968
Cboe Global Markets Inc		47,491		6,289
Centene Corp *		13,893		867
CH Robinson Worldwide Inc		3,603		341
Chemed Corp		7,081		3,780
Chevron Corp		58,800		8,856
Chubb Ltd		5,176		962
Church & Dwight Co Inc		89,413		8,266
Cigna Group		27,978		6,922
Cirrus Logic Inc *		373		29
Cisco Systems Inc		743,424		36,926
Clorox Co/The		69,899		11,057
Coca-Cola Co/The		111,449		6,649
Cognizant Technology Solutions Corp, Cl A		58,729		3,670
Colgate-Palmolive Co		110,073		8,187
Comcast Corp, Cl A		349,057		13,735
CommVault Systems Inc *		72,531		5,055
Conagra Brands Inc		433,015		15,099
Consolidated Edison Inc		122,658		11,444
Copart Inc *		2,945		258
Corebridge Financial Inc		142,706		2,372
Costco Wholesale Corp		11,079		5,668
Crane Co		54,143		3,934
Crane NXT Co		10,551		555
CSG Systems International Inc		48,143		2,310
Cummins Inc		22,700		4,640
CVS Health Corp		299,951		20,406
Dell Technologies Inc, Cl C		167,400		7,501
Dolby Laboratories Inc, Cl A		78,520		6,480
Dollar General Corp		5,893		1,185
Domino's Pizza Inc		4,863		1,410
Donaldson Co Inc		11,744		687
Dropbox Inc, Cl A *		1,740		40
DT Midstream Inc		28,882		1,313
DTE Energy Co		3,210		345
Duke Energy Corp		41,156		3,675
eBay Inc		133,770		5,691
Ecolab Inc		14,796		2,442
Electronic Arts Inc		135,393		17,330
Elevance Health Inc		2,285		1,023
Eli Lilly & Co		1,368		587
Ennis Inc		3,744		73
Entergy Corp		57,300		5,627
Everest Re Group Ltd		21,600		7,344
Evergy Inc		104,000		6,016
Eversource Energy		1,829		127
Exxon Mobil Corp		126,100		12,885


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
F5 Inc *		4,662	$	688
Fair Isaac Corp *		4,218		3,322
Ferguson PLC		20,800		3,014
Flowers Foods Inc		82,074		2,050
FMC Corp		12,339		1,284
Ford Motor Co		233,500		2,802
Fox Corp		124,251		3,711
General Dynamics Corp		30,576		6,243
General Electric Co		8,343		847
General Mills Inc		201,294		16,941
General Motors Co		67,700		2,194
Genuine Parts Co		14,378		2,141
Gilead Sciences Inc		394,397		30,345
Golub Capital BDC		92,718		1,229
Graco Inc		92,849		7,102
Graham Holdings Co, Cl B		2,159		1,219
Grand Canyon Education Inc *		14,659		1,536
Graphic Packaging Holding Co		202,900		4,849
GSK PLC		989,216		16,507
Hartford Financial Services Group Inc/The		126,900		8,695
HealthStream Inc		3,215		74
Hershey Co/The		36,336		9,436
Hewlett Packard Enterprise Co		348,800		5,030
Holcim AG		3,450		212
Hologic Inc *		19,981		1,576
Honeywell International Inc		17,062		3,269
HP Inc		103,500		3,008
Humana Inc		28,060		14,082
Huntington Ingalls Industries Inc		8,114		1,634
Incyte Corp *		161,039		9,912
Ingredion Inc		58,749		6,145
Insight Enterprises Inc *		5,572		753
Insperity Inc		1,066		118
Intel Corp		213,700		6,719
Inter Parfums Inc		3,562		447
Intercontinental Exchange Inc		67,158		7,115
International Business Machines Corp		153,984		19,801
J M Smucker Co/The		69,186		10,142
Jacobs Solutions Inc		3,357		368
John B Sanfilippo & Son Inc		4,854		564
Johnson & Johnson		157,618		24,440
Juniper Networks Inc		268,906		8,167
Kellogg Co		303,180		20,243
Keysight Technologies Inc *		3,031		490
Kimberly-Clark Corp		111,592		14,985
Knight-Swift Transportation Holdings Inc, Cl A		1,046		58
Kraft Heinz Co/The		428,751		16,387
Kroger Co/The		309,900		14,048
L3Harris Technologies Inc		9,278		1,632
Landstar System Inc		2,461		432
Leidos Holdings Inc		9,053		707


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Lockheed Martin Corp		42,846	$	19,024
Lowe's Cos Inc		18,500		3,721
Marathon Petroleum Corp		74,590		7,825
Marsh & McLennan Cos Inc		42,564		7,371
McDonald's Corp		15,663		4,466
McKesson Corp		34,343		13,423
MDC Holdings Inc		9,069		365
Medtronic PLC		93,556		7,743
Merck & Co Inc		260,208		28,730
Microsoft Corp		26,441		8,683
Molina Healthcare Inc *		6,265		1,716
Molson Coors Beverage Co, Cl B		179,600		11,108
Mondelez International Inc, Cl A		108,876		7,993
Motorola Solutions Inc		12,994		3,663
MSC Industrial Direct Co Inc, Cl A		8,853		796
National Fuel Gas Co		98,400		5,010
Nestle SA		59,473		7,020
NetApp Inc		4,889		324
NetScout Systems Inc *		33,974		1,037
NewMarket Corp		27,959		10,899
NextGen Healthcare Inc *		8,951		139
Noram Drilling		22,054		102
Northrop Grumman Corp		22,019		9,589
NVR Inc *		167		928
Old Republic International Corp		120,300		2,946
Oracle Corp		207,124		21,943
O'Reilly Automotive Inc *		2,445		2,209
Organon & Co		30,990		601
PACCAR Inc		42,931		2,953
Packaging Corp of America		22,900		2,840
PepsiCo Inc		41,414		7,552
Pfizer Inc		423,212		16,091
Philip Morris International Inc		72,163		6,495
Phillips 66		21,438		1,964
Procter & Gamble Co/The		109,187		15,559
Provident Financial Holdings Inc (A)		2,655		31
Public Storage ^‡		12,333		3,494
Quest Diagnostics Inc		57,600		7,641
Regeneron Pharmaceuticals Inc *		1,946		1,431
Reliance Steel & Aluminum Co		40,681		9,547
Republic Services Inc, Cl A		11,728		1,661
Roche Holding AG		48,043		15,294
Royal Gold Inc		62,900		7,790
RPM International Inc		56,329		4,494
Sanofi (A)		172,071		17,405
Signify NV		60,700		1,543
Silgan Holdings Inc		247,839		11,150
Sixth Street Specialty Lending Inc		855		16
Sonoco Products Co		51,900		3,107
Synopsys Inc *		10,463		4,760
Taro Pharmaceutical Industries Ltd *		7,891		291
T-Mobile US Inc *		19,787		2,716


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Toro Co/The		12,963	$	1,268
Tyson Foods Inc, Cl A		49,900		2,527
UGI Corp		118,100		3,303
Ulta Beauty Inc *		3,248		1,331
United Therapeutics Corp *		7,189		1,508
UnitedHealth Group Inc		11,260		5,486
USANA Health Sciences Inc *		10,958		665
VeriSign Inc *		23,274		5,198
Verizon Communications Inc		971,960		34,631
Vertex Pharmaceuticals Inc *		10,524		3,405
VMware Inc, Cl A *		1,525		208
Walgreens Boots Alliance Inc		250,735		7,615
Walmart Inc		138,033		20,273
Waste Management Inc		8,646		1,400
WEC Energy Group Inc		3,201		280
Werner Enterprises Inc		182,200		8,002
Western Union Co/The		420,100		4,785
Whirlpool Corp		26,400		3,413
Yelp Inc, Cl A *		7,495		251
Zimmer Biomet Holdings Inc		2,936		374
				1,294,444

Total Common Stock
(Cost $2,071,447) ($ Thousands)				2,070,549


Description	Shares		Market Value ($ Thousands)
PREFERRED STOCK — 0.3%
Germany — 0.3%
Bayerische Motoren Werke AG, 6.320%		10,178	$	1,043
Henkel AG & Co KGaA (B)		79,752		6,338

Total Preferred Stock
(Cost $6,731) ($ Thousands)				7,381



AFFILIATED PARTNERSHIP — 1.7%
SEI Liquidity Fund, LP
5.010% **^†(C)		35,039,069		35,068


Total Affiliated Partnership
(Cost $35,067) ($ Thousands)				35,068



CASH EQUIVALENT — 0.7%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		15,194,610		15,195

Total Cash Equivalent
(Cost $15,195) ($ Thousands)				15,195


Total Investments in Securities — 100.5%
(Cost $2,128,440) ($ Thousands)			$	2,128,193

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open forward foreign currency contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $2,117,951 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^‡	Real Estate Investment Trust.
^†	Investment in Affiliated Security (see Note 6).
(A)	Certain securities or partial positions of certain securities are on loan at May 31, 2023 (see Note 11).
(B)	No interest rate available.
(C)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $35,068 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Common Stock

2,070,549

–

2,070,549

Preferred Stock

7,381

–

7,381

Affiliated Partnership

–

35,068

–

35,068

Cash Equivalent

15,195

–

15,195

Total Investments in Securities

2,093,125

35,068

–

2,128,193

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		91			–			–		91
Unrealized Depreciation		(45	)		–			–		(45	)
Forward Contracts*
Unrealized Appreciation		–			3,629			–		3,629
Unrealized Depreciation		–			(57	)		–		(57	)
Total Other Financial Instruments		46			3,572			–		3,618

*	Futures contracts and forward contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 94.0%
Australia — 3.7%
Accent Group Ltd		27,525	$	32
AngloGold Ashanti Ltd ADR		48,662		1,178
ANZ Group Holdings Ltd		928,251		13,768
Aristocrat Leisure Ltd		244,306		5,874
Bellevue Gold Ltd *		1,201,157		999
BHP Group Ltd		978,093		26,597
BlueScope Steel Ltd		1,790,068		21,454
Brambles Ltd		1,883,916		16,751
Cochlear Ltd		7,422		1,169
Computershare Ltd		872,291		12,622
CSL Ltd		27,619		5,476
EBOS Group Ltd		40,308		1,017
Fortescue Metals Group Ltd		616,407		7,667
Goodman Group ^‡		285,078		3,622
Iluka Resources Ltd		105,802		770
Incitec Pivot Ltd		1,838,684		3,522
Lottery Corp Ltd/The		770,599		2,484
Mineral Resources Ltd		125,703		5,759
National Storage REIT ^‡		1,010,898		1,649
Neuren Pharmaceuticals Ltd *		97,157		870
New Hope Corp Ltd		463,713		1,383
Northern Star Resources Ltd		105,758		884
Nufarm Ltd		36,310		128
Orica Ltd		123,060		1,218
Orora Ltd		848,712		1,807
Pro Medicus Ltd		30,253		1,162
Qantas Airways Ltd *		8,124,093		34,962
QBE Insurance Group Ltd		106,721		1,010
Ridley Corp Ltd		27,537		35
Rio Tinto Ltd		660,314		45,723
RPMGlobal Holdings Ltd *		31,213		30
Seven Group Holdings Ltd		132,171		2,000
Silex Systems Ltd *		129,592		329
Sonic Healthcare Ltd		53,405		1,216


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
South32 Ltd		9,193,887	$	23,085
Super Retail Group Ltd		223,664		1,653
Symbio Holdings Ltd		21,545		27
Technology One Ltd		189,747		2,011
Terracom Ltd		279,687		89
Transurban Group		113,217		1,087
Viva Energy Group Ltd		650,988		1,335
Washington H Soul Pattinson & Co Ltd		158,425		3,293
Wesfarmers Ltd		30,323		935
Whitehaven Coal Ltd		1,138,974		4,172
WiseTech Global Ltd		87,604		4,242
Woodside Energy Group Ltd		81,083		1,800
Woolworths Group Ltd		181,697		4,414
				273,310

Austria — 0.4%
ANDRITZ AG		142,487		7,618
OMV AG		333,687		14,828
Palfinger AG		2,034		61
Raiffeisen Bank International AG		163,914		2,394
voestalpine AG		201,685		6,231
Wienerberger AG		37,396		1,054
				32,186

Belgium — 0.0%
Barco NV		6,667		172
Solvay SA		13,731		1,430
				1,602

Brazil — 2.3%
3R PETROLEUM OLEO E GAS SA *		1,069,300		6,269
Ambev SA *		11,484,800		32,244
Banco do Brasil SA		6,199,600		54,239
Caixa Seguridade Participacoes S/A		990,677		1,990
Cia de Saneamento de Minas Gerais Copasa MG *		47,900		187
CPFL Energia SA		1,995,700		11,837
Gerdau SA ADR		2,279,254		10,758
JBS S/A		2,351,700		7,760
Petroleo Brasileiro SA ADR		374,681		4,324
Romi SA/Brazil		41,940		137
Telefonica Brasil SA		4,980,000		39,261
Yara International ASA		1,077		40
				169,046

Canada — 3.5%
Advantage Energy Ltd *		98,615		530
Agnico Eagle Mines Ltd		30,258		1,538
Alamos Gold Inc, Cl A		118,914		1,466
Atco Ltd/Canada, Cl I		31,100		955
Athabasca Oil Corp *		544,920		1,139
ATS Corp *		23,545		1,030
Barrick Gold Corp		2,280,000		38,478
Bombardier Inc, Cl B *		28,276		1,120


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Boyd Group Services Inc		5,260	$	952
BRP Inc		200,307		14,222
Calfrac Well Services Ltd *		14,470		44
Canadian National Railway Co		14,461		1,628
Canadian Solar Inc *		24,441		1,022
Canfor Corp *		173,148		2,444
Celestica Inc *		57,821		736
CES Energy Solutions Corp		67,926		118
Constellation Software Inc/Canada		3,441		7,007
Coveo Solutions Inc *		8,300		44
Crescent Point Energy Corp		1,231,370		7,754
Descartes Systems Group Inc/The *		11,765		908
Docebo Inc *		6,000		205
Dollarama Inc		396,869		24,111
Dundee Precious Metals Inc		195,741		1,346
Element Fleet Management Corp		90,312		1,368
Enghouse Systems Ltd		48,969		1,358
Fairfax Financial Holdings Ltd		5,821		4,173
Finning International Inc		162,546		4,390
George Weston Ltd		1,900		223
iA Financial Corp Inc		103,200		6,569
Interfor Corp *		19,900		291
Kelt Exploration Ltd *		10,056		39
Keyera Corp		40,353		900
Kinaxis Inc *		24,096		3,219
Kinross Gold Corp		564,600		2,658
Lundin Gold Inc		141,026		1,784
Major Drilling Group International Inc *		3,100		21
Manulife Financial Corp		603,314		11,163
Martinrea International Inc		32,475		271
MEG Energy Corp *		8,700		131
Methanex Corp		7,180		293
Mullen Group Ltd		70,695		812
National Bank of Canada		263,192		18,843
NuVista Energy Ltd *		126,611		1,005
Obsidian Energy Ltd *		3,910		21
Open Text Corp		98,100		4,073
Pason Systems Inc		75,965		635
Pet Valu Holdings Ltd		8,838		201
Peyto Exploration & Development Corp (A)		116,313		937
Precision Drilling Corp *		361		15
Primo Water Corp		23,664		305
Quebecor Inc, Cl B		905,097		21,554
RB Global Inc		63,645		3,320
Rogers Communications Inc, Cl B		20,235		891
Russel Metals Inc		55,137		1,445
Saputo Inc		62,193		1,607
Shawcor Ltd *		28,700		338
Shopify Inc, Cl A *		56,479		3,227
Silvercorp Metals Inc		32,700		98
SNC-Lavalin Group Inc		845,900		19,727
Stella-Jones Inc		60,815		2,687


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Suncor Energy Inc		31,899	$	892
Supremex Inc		3,200		13
TC Energy Corp		23,136		899
TFI International Inc		45,100		4,745
TMX Group Ltd		55,622		6,046
Torex Gold Resources Inc *		97,368		1,520
Toromont Industries Ltd		247,066		19,085
Uni-Select Inc *		8,015		276
				262,865

Chile — 0.0%
Enel Chile SA		18,520,334		1,012
Enel Chile SA ADR		145,308		407
				1,419

China — 5.5%
Agricultural Bank of China Ltd, Cl H		12,931,000		4,873
Alibaba Group Holding Ltd *		3,101,700		30,865
Anhui Gujing Distillery Co Ltd, Cl A		37,555		1,332
Anjoy Foods Group Co Ltd, Cl A		36,800		798
Autohome Inc ADR		41,235		1,180
Baidu Inc ADR *		15,112		1,857
Baidu Inc, Cl A *		701,200		10,695
Bank of Communications Co Ltd, Cl H		1,138,000		734
Beijing Ultrapower Software Co Ltd, Cl A		527,000		1,007
Beijing Yanjing Brewery Co Ltd, Cl A		2,018,668		3,285
Brilliance China Automotive Holdings Ltd *		11,496,000		4,420
BYD Electronic International Co Ltd		280,000		816
C&D Property Management Group Co Ltd		112,919		57
Castech Inc, Cl A		598,900		2,132
Changjiang Securities Co Ltd, Cl A		3,527,000		2,984
China CITIC Bank Corp Ltd, Cl H		5,629,000		2,963
China Coal Energy Co Ltd, Cl H		3,772,645		2,853
China Construction Bank Corp, Cl H		48,981,000		31,347
China Kepei Education Group Ltd		265,870		85
China Minsheng Banking Corp Ltd, Cl H		6,226,500		2,466
China Nonferrous Mining Corp Ltd		156,000		75
China Overseas Land & Investment Ltd		9,717,000		19,711
China Pacific Insurance Group Co Ltd, Cl H		4,173,486		10,556
China Railway Group Ltd, Cl H		3,112,000		2,051
China Resources Beer Holdings Co Ltd		154,000		972
China Resources Land Ltd		2,552,000		9,552
China Resources Sanjiu Medical & Pharmaceutical Co Ltd, Cl A		111,600		1,026
China Sanjiang Fine Chemicals Co Ltd *		598,092		109
China Southern Power Grid Energy Efficiency&Clean Energy Co Ltd, Cl A		975,700		842
China Taiping Insurance Holdings Co Ltd		699,800		729
China Traditional Chinese Medicine Holdings Co Ltd		1,768,000		851
CNPC Capital Co Ltd, Cl A		1,365,100		1,505
COFCO Capital Holdings Co Ltd, Cl A		1,389,700		1,573


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
COSCO SHIPPING Energy Transportation Co Ltd, Cl H		860,000	$	726
Daqin Railway Co Ltd, Cl A		1,459,439		1,569
Edvantage Group Holdings Ltd		263,211		74
FIH Mobile Ltd *		597,000		58
GF Securities Co Ltd, Cl H		6,700,600		9,313
Haidilao International Holding Ltd		356,000		749
Hello Group Inc ADR *		9,938		80
Hisense Home Appliances Group Co Ltd, Cl H		27,000		53
HUTCHMED China Ltd *		343,000		833
Inner Mongolia Yili Industrial Group Co Ltd, Cl A		3,663,600		14,857
iQIYI Inc ADR *		396,917		1,611
JA Solar Technology Co Ltd, Cl A		163,200		827
JCHX Mining Management Co Ltd, Cl A		202,537		870
JD.com Inc ADR		33,790		1,102
Jiangsu Yike Food Group Co Ltd, Cl A		392,932		839
JOYY Inc ADR		48,155		1,194
Kingsoft Corp Ltd		557,200		2,025
Kunlun Energy Co Ltd		2,512,000		2,002
Lee & Man Chemical Co Ltd		34,000		21
Lenovo Group Ltd		13,550,000		12,740
Li Auto Inc ADR *		32,013		930
LONGi Green Energy Technology Co Ltd, Cl A		1,560,478		6,330
Lonking Holdings Ltd		286,732		42
Luzhou Laojiao Co Ltd, Cl A		86,500		2,484
Midea Group Co Ltd, Cl A		1,984,194		14,336
MINISO Group Holding Ltd ADR *		451,404		6,861
NetDragon Websoft Holdings Ltd		179,260		324
NetEase Inc		107,100		1,814
New China Life Insurance Co Ltd, Cl H		2,298,600		5,946
New Oriental Education & Technology Group Inc *		153,100		585
Oppein Home Group Inc, Cl A		325,870		4,351
People's Insurance Co Group of China Ltd/The, Cl H		7,448,000		2,816
PetroChina Co Ltd, Cl H		44,416,045		28,710
Power Construction Corp of China Ltd, Cl A		1,335,200		1,246
Prosus NV		64,790		4,253
Qianhe Condiment and Food Co Ltd, Cl A		287,500		850
Sany Heavy Equipment International Holdings Co Ltd		712,000		940
SDIC Power Holdings Co Ltd, Cl A		765,200		1,421
Shandong Himile Mechanical Science & Technology Co Ltd, Cl A		389,792		1,822
Shandong Weigao Group Medical Polymer Co Ltd, Cl H		536,000		793
Sichuan Changhong Electric Co Ltd, Cl A		2,424,700		1,549
Sichuan Road and Bridge Group Co Ltd, Cl A		428,800		917
Sinopharm Group Co Ltd, Cl H		546,800		1,792
SITC International Holdings Co Ltd		2,281,670		3,964
TAL Education Group ADR *		184,394		1,001


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
TCL Electronics Holdings Ltd		540,000	$	221
Tencent Holdings Ltd		676,000		26,822
Tencent Music Entertainment Group *		6,300		22
Tencent Music Entertainment Group ADR *		249,827		1,734
Tianli International Holdings Ltd		292,000		83
Tonghua Dongbao Pharmaceutical Co Ltd, Cl A		563,400		912
Topsports International Holdings Ltd		11,311,000		8,785
TravelSky Technology Ltd, Cl H		732,000		1,335
Trip.com Group Ltd *		28,350		910
Trip.com Group Ltd ADR *		491,234		15,513
Uni-President China Holdings Ltd		141,000		122
Vipshop Holdings Ltd ADR *		684,540		9,803
Waterdrop Inc ADR *(A)		27,573		69
Weibo Corp ADR *		107,408		1,500
Weichai Power Co Ltd, Cl H		8,344,000		11,341
Wuliangye Yibin Co Ltd, Cl A		73,801		1,674
Wuxi Taiji Industry Co Ltd, Cl A *		1,441,900		1,451
XCMG Construction Machinery Co Ltd, Cl A		936,700		788
Xiangcai Co Ltd, Cl A		917,700		1,044
Xinyi Glass Holdings Ltd		5,996,000		8,870
Yangling Metron New Material Inc, Cl A		142,500		871
Yifeng Pharmacy Chain Co Ltd, Cl A		130,500		911
Yihai International Holding Ltd		246,000		546
Youdao Inc ADR *		1,521		7
Yum China Holdings Inc		17,700		987
Zhejiang Jinke Tom Culture Industry Co Ltd, Cl A *		1,182,400		1,145
ZTE Corp, Cl H		597,600		1,836
ZTO Express Cayman Inc ADR *		47,070		1,188
				404,411

Czech Republic — 0.0%
CEZ AS		35,814		1,604

Denmark — 3.0%
AP Moller - Maersk A/S, Cl B		9,279		15,562
Coloplast A/S, Cl B		86,815		10,900
D/S Norden A/S		22,741		1,175
Danske Bank A/S *		1,164,191		23,616
DSV A/S		9,323		1,792
Genmab A/S *		99,119		38,667
ISS A/S		1,331		25
Jyske Bank A/S *		13,211		905
Novo Nordisk A/S, Cl B		514,459		82,208
Pandora A/S		575,318		45,711
Solar A/S, Cl B		625		45
				220,606

Finland — 1.2%
Cargotec Oyj, Cl B		7,061		375
Kesko Oyj, Cl B		3,479		66
Kone Oyj, Cl B		97,086		4,913
Konecranes Oyj, Cl A		22,691		845


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Metso Oyj		82,401	$	899
Nokia Oyj		18,505,021		74,868
Nordea Bank Abp		443,801		4,342
Orion Oyj, Cl B		78,409		3,309
Wartsila OYJ Abp, Cl B		97,336		1,099
				90,716

France — 8.2%
Accor SA		668,945		22,087
Air France-KLM *		235,331		417
Air Liquide SA		162,677		27,166
Amundi SA		572,319		32,094
Christian Dior SE		2,019		1,665
Cie de Saint-Gobain		174,392		9,631
Cie des Alpes		1,404		21
Cie Generale des Etablissements Michelin SCA		1,130,758		32,018
Criteo SA ADR *		76,709		2,446
Danone SA		1,292,240		76,239
Dassault Aviation SA		253,390		42,736
Eiffage SA		12,878		1,368
Hermes International		13,478		27,327
Ipsen SA (A)		62,126		7,160
Kering SA		19,778		10,508
La Francaise des Jeux SAEM		95,757		3,681
Legrand SA		182,163		17,179
LVMH Moet Hennessy Louis Vuitton SE		56,121		48,696
Orange SA (A)		2,938,705		35,001
Pernod Ricard SA		113,461		24,446
Publicis Groupe SA		245,103		18,113
Rexel SA		1,704,085		34,736
Sanofi (A)		468,678		47,407
Societe BIC SA (A)		415,000		24,688
Societe pour l'Informatique Industrielle		319		17
Sodexo SA		394,310		42,479
SPIE SA		2,845		84
Thales SA (A)		50,713		7,045
Vinci SA		36,366		4,122
Wavestone		1,906		91
Wendel SE		4,077		427
Worldline SA/France *		170,612		6,612
				607,707

Germany — 7.1%
adidas AG		148,830		24,038
Apontis Pharma AG *		2,116		20
BASF SE		563,267		26,671
Bayer AG		1,031,638		57,345
Bayerische Motoren Werke AG		57,095		6,204
Beiersdorf AG		31,705		4,027
Carl Zeiss Meditec AG		74,063		8,279
Commerzbank AG		102,050		1,023
Continental AG		725,000		48,138


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Covestro AG *		1,883,131	$	72,394
Daimler Truck Holding AG		716,149		21,607
Deutsche Bank AG		104,734		1,058
Deutsche Boerse AG		32,615		5,615
Deutsche Lufthansa AG *		1,867,702		18,239
Duerr AG		13,532		394
E.ON SE		740,522		8,929
Fresenius Medical Care AG & Co KGaA		751,631		32,012
Fresenius SE & Co KGaA		259,591		7,082
GEA Group AG		198,336		8,308
Heidelberg Materials		252,344		17,992
Heidelberger Druckmaschinen AG *		14,498		26
HOCHTIEF AG		46,698		3,873
HUGO BOSS AG		7,014		475
Infineon Technologies AG		299,210		11,078
Knorr-Bremse AG		221,650		15,119
Koenig & Bauer AG *		1,160		22
Krones AG		2,291		255
Mercedes-Benz Group AG		31,655		2,355
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		16,647		5,928
Rational AG		7,651		5,118
Rheinmetall AG		100,212		25,256
RWE AG		20,866		870
Salzgitter AG		1,101		36
SAP SE		407,148		53,033
Scout24 SE		232,829		14,893
Siemens AG		42,065		6,877
Siemens Energy AG *		32,295		817
SMA Solar Technology AG *		12,959		1,388
Stabilus SE		505		30
Talanx AG		33,141		1,843
thyssenkrupp AG		35,320		242
Traton SE		142,974		2,864
Vitesco Technologies Group AG *		4,218		273
Wacker Chemie AG		25,151		3,330
Washtec AG		572		22
				525,398

Greece — 0.1%
Aegean Airlines SA *		10,275		109
Eurobank Ergasias Services and Holdings SA *		656,569		1,022
JUMBO SA *		83,183		1,924
Motor Oil Hellas Corinth Refineries SA		9,557		246
National Bank of Greece SA *		215,896		1,335
				4,636

Hong Kong — 1.0%
AIA Group Ltd		1,746,400		16,754
ASMPT Ltd		55,000		469
Bank of East Asia Ltd/The		20,516		26
Chaoda Modern Agriculture Holdings Ltd *		52,790		–


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Comba Telecom Systems Holdings Ltd		658,000	$	114
Orient Overseas International Ltd		583,503		7,115
Pacific Basin Shipping Ltd		849,000		248
Perennial Energy Holdings Ltd		245,000		47
Samsonite International SA *		5,244,500		13,318
Skyworth Group Ltd		662,000		331
Swire Pacific Ltd, Cl A		5,067,000		33,852
Wharf Real Estate Investment Co Ltd		160,000		790
				73,064

Hungary — 0.1%
MOL Hungarian Oil & Gas PLC		86,492		701
OTP Bank Nyrt		95,988		2,980
				3,681

India — 1.1%
3M India Ltd		498		151
Ahluwalia Contracts India Ltd		4,490		32
Axis Bank Ltd		87,115		963
Bank of Baroda		679,723		1,520
Bank of India		372,150		332
Castrol India Ltd		2,393		3
CESC Ltd		55,427		46
CG Power & Industrial Solutions Ltd		243,758		1,158
Coal India Ltd		2,914,736		8,500
Cummins India Ltd		94,516		2,011
Cyient Ltd		78,160		1,226
DB Corp Ltd		11,535		19
DLF Ltd		217,494		1,248
Federal Bank Ltd		719,977		1,090
GAIL India Ltd		722,142		915
Gillette India Ltd		648		34
Gujarat Industries Power Co Ltd		42,932		49
Gujarat Pipavav Port Ltd		184,639		240
Gujarat State Petronet Ltd		60,145		218
HDFC Bank Ltd ADR		427,625		27,539
Hindustan Aeronautics Ltd		137,814		5,192
ICICI Bank Ltd		325,331		3,732
Indian Bank		77,796		254
Ingersoll Rand India Ltd		2,967		98
Intellect Design Arena Ltd		27,852		197
ITC Ltd		543,274		2,925
J Kumar Infraprojects Ltd		9,170		28
JSW Energy Ltd		295,527		908
Karnataka Bank Ltd/The		46,453		85
Karur Vysya Bank Ltd/The		467,036		599
Kirloskar Pneumatic Co Ltd		3,479		24
Kotak Mahindra Bank Ltd		89,290		2,174
KPIT Technologies Ltd		88,255		1,134
Manappuram Finance Ltd		108,442		145
NCC Ltd/India		198,742		286
NHPC Ltd		1,860,563		977
Oracle Financial Services Software Ltd		17,989		790


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Polycab India Ltd		8,218	$	340
Power Finance Corp Ltd		768,853		1,695
Ram Ratna Wires Ltd		11,455		31
Shanthi Gears Ltd		17,918		94
State Bank of India		408,699		2,865
Tech Mahindra Ltd		501,164		6,758
Ujjivan Financial Services Ltd		97,734		427
Varun Beverages Ltd		93,807		1,921
WNS Holdings Ltd ADR *		37,549		2,918
Wonderla Holidays Ltd		60,863		367
				84,258

Indonesia — 0.2%
ABM Investama Tbk PT		129,467		24
Adaro Energy Indonesia Tbk PT		10,388,420		1,414
Alam Sutera Realty Tbk PT *		2,571,500		30
Bank Central Asia Tbk PT		3,069,500		1,853
Bank Rakyat Indonesia Persero Tbk PT		13,369,900		4,973
Ciputra Development Tbk PT		2,090,383		149
Elnusa Tbk PT		3,901,400		86
Energi Mega Persada Tbk PT *		5,896,700		85
Hanjaya Mandala Sampoerna Tbk PT		10,683,400		698
Indah Kiat Pulp & Paper Tbk PT		44,300		20
Indofood Sukses Makmur Tbk PT		552,676		262
Jaya Konstruksi Manggala Pratama Tbk PT *		2,342,500		16
Prima Andalan Mandiri Tbk PT		235,775		71
Rmk Energy Tbk PT *		220,500		13
Sumber Alfaria Trijaya Tbk PT		851,500		150
Surya Semesta Internusa Tbk PT *		4,717,400		139
Triputra Agro Persada PT		4,821,827		167
United Tractors Tbk PT		4,583,075		6,795
				16,945

Ireland — 1.7%
Accenture PLC, Cl A		86,288		26,397
AerCap Holdings NV *		18,139		1,036
AIB Group PLC		6,500,000		26,554
Aon PLC, Cl A		108,856		33,559
Bank of Ireland Group PLC		1,536,067		14,401
Greencore Group PLC *		2,947,980		2,929
ICON PLC *		99,596		21,217
				126,093

Israel — 1.2%
Bank Hapoalim BM		541,910		4,356
Check Point Software Technologies Ltd *		381,739		47,645
First International Bank Of Israel Ltd/The (A)		26,172		985
Inmode Ltd *		115,483		3,646
Isracard Ltd		18		–
Monday.com Ltd *(A)		25,647		4,621
Nice Ltd ADR *		88,433		18,212
Perion Network Ltd *		28,921		890


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Wix.com Ltd *		112,921	$	8,607
				88,962

Italy — 1.0%
Azimut Holding SpA		74,939		1,484
Banca IFIS SpA		26,497		395
Banca Mediolanum SpA		98,679		829
Brunello Cucinelli SpA		16,626		1,430
Buzzi SpA		41,504		945
CNH Industrial NV		377,693		4,812
Coca-Cola HBC AG		72,491		2,146
Danieli & C Officine Meccaniche SpA		5,930		107
Enel SpA		3,622,727		22,625
Ferrari NV		13,624		3,872
Infrastrutture Wireless Italiane SpA		151,183		1,918
Intesa Sanpaolo SpA		2,321,843		5,336
Iveco Group NV *		214,898		1,600
Moncler SpA		13,129		886
Piaggio & C SpA		121,730		468
PRADA SpA		253,200		1,693
Prysmian SpA		51,969		1,921
Recordati Industria Chimica e Farmaceutica SpA		17,921		776
Sanlorenzo SpA/Ameglia		1,602		63
Stellantis NV		54,122		818
Terna - Rete Elettrica Nazionale		112,407		939
UniCredit SpA		917,248		17,518
Unipol Gruppo SpA		28,551		142
				72,723

Japan — 11.1%
77 Bank Ltd/The		63,200		1,101
A&D HOLON Holdings Co Ltd		7,000		82
ABC-Mart Inc		55,700		3,022
Adastria Co Ltd		44,200		878
Ad-sol Nissin Corp		1,900		23
Advantest Corp		223,200		28,612
Aeon Delight Co Ltd		3,300		70
AEON Financial Service Co Ltd		199,300		1,698
Aeon Mall Co Ltd		150,700		1,897
Ai Holdings Corp		16,600		270
Aisan Industry Co Ltd		22,900		159
Ajinomoto Co Inc		128,000		4,966
Akita Bank Ltd/The		2,200		26
Alfresa Holdings Corp		2,000		30
Alps Logistics Co Ltd		3,300		31
Amano Corp		3,100		64
ANA Holdings Inc *		249,000		5,516
Anest Iwata Corp		3,900		30
Anritsu Corp		113,600		977
AOKI Holdings Inc		17,400		103
Arealink Co Ltd		2,000		31
Artner Co Ltd		6,300		66


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Asahi Co Ltd		2,700	$	24
Asahi Group Holdings Ltd		612,300		23,705
ASAHI YUKIZAI CORP		2,000		53
Ateam Inc		20,100		101
Atrae Inc *		19,300		101
Avant Group Corp		13,200		129
Avex Inc		3,900		42
Awa Bank Ltd/The		10,100		143
Axell Corp		17,000		171
Bank of Iwate Ltd/The		5,400		78
Bank of Kyoto Ltd/The		45,100		2,108
Bank of Saga Ltd/The		1,800		21
Base Co Ltd		1,600		63
baudroie inc *		2,700		104
BayCurrent Consulting Inc		41,500		1,518
Benefit One Inc		9,500		104
Bewith Inc		9,400		123
BIPROGY Inc		141,000		3,396
Brother Industries Ltd		2,314,300		33,526
Business Engineering Corp		3,200		75
Capcom Co Ltd (A)		257,560		10,028
Carlit Holdings Co Ltd		17,500		88
Central Security Patrols Co Ltd		8,200		159
Ceres Inc/Japan		8,700		67
Chiba Bank Ltd/The		488,700		3,047
Chikaranomoto Holdings Co Ltd		3,600		37
Chino Corp		2,200		35
Chiyoda Integre Co Ltd		1,400		23
Chori Co Ltd		3,400		62
Chuetsu Pulp & Paper Co Ltd		3,300		28
Chuo Warehouse Co Ltd		3,900		28
CMK Corp		13,700		43
COLOPL Inc *		148,800		707
Credit Saison Co Ltd		83,600		1,146
Creek & River Co Ltd		1,800		25
CTS Co Ltd		4,400		23
Cube System Inc		2,800		23
Cybernet Systems Co Ltd		6,600		40
Cybozu Inc		11,700		203
Dai-Dan Co Ltd		4,500		79
Daihatsu Diesel Manufacturing Co Ltd		22,200		100
Daihen Corp		2,500		90
Dainichiseika Color & Chemicals Manufacturing Co Ltd		2,400		32
Daisue Construction Co Ltd		3,500		31
Descente Ltd		4,000		110
Digital Arts Inc		9,300		377
Digital Information Technologies Corp		4,800		51
dip Corp		1,200		29
Disco Corp		2,500		364
DMG Mori Co Ltd		45,900		770
Doshisha Co Ltd		1,200		18


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Ebase Co Ltd		5,000	$	28
Ehime Bank Ltd/The		6,800		38
Eiken Chemical Co Ltd		34,900		368
Elecom Co Ltd		47,500		497
Elematec Corp		9,500		116
en Japan Inc		17,000		283
Enigmo Inc		30,100		83
Entrust Inc		3,400		22
ESPEC Corp		1,700		25
Exedy Corp		2,300		35
F&M Co Ltd		1,400		20
Fabrica Communications Co Ltd		2,600		52
Fancl Corp		76,000		1,234
FINDEX Inc		8,500		35
Fixstars Corp		10,100		97
FP Partner Inc		1,900		108
Fudo Tetra Corp		2,000		25
Fuji Corp/Aichi		33,600		548
Fuji Kyuko Co Ltd		26,200		971
FUJIFILM Holdings Corp		155,200		9,479
Fujikura Composites Inc		8,500		55
Fujitsu Ltd		142,000		18,010
FuKoKu Co Ltd		3,700		30
Fukui Computer Holdings Inc		3,300		64
Fukuoka Financial Group Inc		480,900		8,915
Furyu Corp		9,600		72
Future Corp		2,700		33
Gakken Holdings Co Ltd		18,400		112
Gakujo Co Ltd		11,500		143
Goldwin Inc		3,700		311
Greens Co Ltd		2,700		26
GungHo Online Entertainment Inc *		128,800		2,489
Gunma Bank Ltd/The		370,900		1,325
H2O Retailing Corp		81,300		845
Heiwa Corp		14,700		245
Hibiya Engineering Ltd		2,300		36
Hino Motors Ltd *		103,400		460
Hioki EE Corp		1,200		77
Hisamitsu Pharmaceutical Co Inc		35,200		904
Hitachi Ltd		313,100		18,031
Hito Communications Holdings Inc		2,700		28
Hodogaya Chemical Co Ltd		1,000		22
Hokko Chemical Industry Co Ltd		4,000		25
Horiba Ltd		13,900		761
Hoshizaki Corp		9,700		349
Hosokawa Micron Corp		3,800		74
Hoya Corp		153,500		19,298
Hyakujushi Bank Ltd/The		9,400		118
I K K Holdings Inc		6,900		31
IBJ Inc		8,000		39
Ichikoh Industries Ltd		29,600		106
I'll Inc		1,500		28


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
IMAGICA GROUP Inc		10,300	$	41
I-NE Co Ltd *		3,100		68
Intelligent Wave Inc		4,300		23
I-PEX Inc		6,700		63
Iriso Electronics Co Ltd		8,900		271
ISB Corp		4,900		55
Isetan Mitsukoshi Holdings Ltd		269,400		2,727
Ishihara Sangyo Kaisha Ltd		3,800		34
Isuzu Motors Ltd		1,529,400		17,777
ITmedia Inc		9,800		87
Iwatani Corp		51,700		2,442
Japan Aviation Electronics Industry Ltd		4,400		79
Japan Electronic Materials Corp		14,900		170
Japan Exchange Group Inc		11,100		181
Japan Lifeline Co Ltd		36,300		268
Japan Medical Dynamic Marketing Inc		13,400		88
Japan Post Holdings Co Ltd		5,100,000		35,937
Japan Post Insurance Co Ltd		245,200		3,680
Japan Transcity Corp		6,000		25
JCU Corp		2,300		57
Jeol Ltd		17,300		599
JK Holdings Co Ltd		3,500		24
Justsystems Corp		6,400		193
Kakaku.com Inc		46,700		678
Kamakura Shinsho Ltd *		21,400		125
Kamigumi Co Ltd		87,700		1,949
Kanaden Corp		3,400		29
Kao Corp		491,500		17,157
Kaonavi Inc *		5,500		89
KAWADA TECHNOLOGIES Inc		2,700		95
Kawasaki Kisen Kaisha Ltd		33,000		740
KDDI Corp		271,400		8,335
Keihan Holdings Co Ltd		58,800		1,488
Keikyu Corp		191,500		1,798
Keyence Corp		18,600		9,026
Kimura Unity Co Ltd		4,900		37
Kitz Corp		17,100		124
KNT-CT Holdings Co Ltd *		2,700		27
Koa Corp		3,000		36
Koatsu Gas Kogyo Co Ltd		5,100		26
Kobayashi Pharmaceutical Co Ltd		11,700		660
Komatsu Ltd		1,346,600		31,729
Konica Minolta Inc		527,500		1,752
Konoike Transport Co Ltd		4,400		48
Kotobuki Spirits Co Ltd		12,800		962
Kuraray Co Ltd		100,700		950
Kyodo Printing Co Ltd		1,700		33
Kyosan Electric Manufacturing Co Ltd		7,600		23
LAC Co Ltd		6,400		32
LaKeel Inc *		5,000		92
Lasertec Corp		8,900		1,379
Lawson Inc		11,400		496


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Life Corp		3,100	$	63
Lifedrink Co Inc		2,700		69
LIFULL Co Ltd *		47,500		82
Macbee Planet Inc *(A)		1,300		150
Macnica Holdings Inc		46,300		1,687
Makita Corp		696,300		18,838
Mandom Corp		5,600		59
Mani Inc		7,700		90
MarkLines Co Ltd		3,400		57
Marui Group Co Ltd		217,100		3,635
Maruzen Showa Unyu Co Ltd		1,200		31
Matching Service Japan Co Ltd		6,600		47
Maxell Ltd		19,100		197
Mazda Motor Corp		420,900		3,597
Media Do Co Ltd		17,800		171
Medipal Holdings Corp		185,800		2,923
Megachips Corp		13,300		328
Meidensha Corp		17,700		235
Meisei Industrial Co Ltd		17,100		112
Micronics Japan Co Ltd *		9,000		114
MIMAKI ENGINEERING CO LTD		10,100		52
Mimasu Semiconductor Industry Co Ltd		6,800		146
MINEBEA MITSUMI Inc		830,500		15,984
Miroku Jyoho Service Co Ltd		11,800		127
Mitani Sangyo Co Ltd		10,700		23
Mitsuba Corp		8,200		40
Mitsubishi Electric Corp		733,100		9,545
Mitsubishi HC Capital Inc		171,400		929
Mitsubishi Heavy Industries Ltd		138,300		5,846
Mitsubishi Kakoki Kaisha Ltd		1,800		31
Mitsubishi Materials Corp		152,100		2,531
Mitsubishi Shokuhin Co Ltd		3,900		101
Mitsubishi UFJ Financial Group Inc		2,943,600		19,646
Mitsui High-Tec Inc		13,800		918
Miura Co Ltd		16,200		430
MIXI Inc		264,700		5,168
Mizuho Financial Group Inc		173,500		2,549
Mizuho Leasing Co Ltd		34,900		1,044
Mizuho Medy Co Ltd		7,100		106
MS&AD Insurance Group Holdings Inc		138,200		4,746
Murata Manufacturing Co Ltd		49,300		2,893
Nagoya Railroad Co Ltd		141,900		2,292
NEC Corp		122,800		5,757
NEOJAPAN Inc		12,800		83
Nexon Co Ltd		41,300		841
Nice Corp		2,600		25
Nichias Corp		13,500		255
Nichirei Corp		85,500		1,827
Nihon Chouzai Co Ltd		5,600		44
Nihon Denkei Co Ltd		4,400		56
Nihon M&A Center Holdings Inc		38,200		267
Nihon Parkerizing Co Ltd		9,200		67


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Nihon Trim Co Ltd		2,800	$	56
Nikon Corp		4,550,000		50,445
Nintendo Co Ltd		47,900		2,035
Nippon Shinyaku Co Ltd		19,200		877
Nippon Thompson Co Ltd		41,300		164
Nissan Motor Co Ltd		561,300		2,101
Nissan Tokyo Sales Holdings Co Ltd		86,600		200
Nissha Co Ltd		23,200		262
Nissin Corp		2,100		36
Nissin Foods Holdings Co Ltd		53,600		4,561
Nisso Corp		8,500		52
Nissui Corp		498,700		2,234
Nitori Holdings Co Ltd		19,800		2,408
Nitto Kohki Co Ltd		2,900		41
Nitto Seiko Co Ltd		5,400		22
Nittoc Construction Co Ltd		6,400		44
Nomura Real Estate Holdings Inc		59,000		1,425
Noritsu Koki Co Ltd		5,300		83
Noritz Corp		7,900		99
NS Solutions Corp		8,600		249
NSD Co Ltd		2,000		39
Obara Group Inc		1,400		40
OBIC Business Consultants Co Ltd		5,200		189
Obic Co Ltd		23,500		3,800
Ohara Inc		1,635		14
Okabe Co Ltd		6,100		33
Okamoto Machine Tool Works Ltd		1,000		40
Okamura Corp		11,400		140
One Career Inc *		4,900		139
Onward Holdings Co Ltd		84,200		224
Open House Group Co Ltd		61,700		2,367
Optim Corp *		26,600		199
Optorun Co Ltd		20,300		336
Oracle Corp Japan *		29,800		2,278
ORIX Corp		1,239,800		21,080
Oro Co Ltd		4,600		78
OSG Corp		17,400		239
Otsuka Corp		115,800		4,360
Otsuka Holdings Co Ltd		38,700		1,433
Panasonic Holdings Corp		155,900		1,630
Pasco Corp		2,300		26
PC Depot Corp		46,600		159
PCA Corp		2,600		22
Pegasus Co Ltd		4,100		16
Persol Holdings Co Ltd		10,800		204
Pickles Holdings Co Ltd		3,100		27
Pigeon Corp		287,400		4,079
Plus Alpha Consulting Co Ltd		22,600		507
Port Inc *		5,500		65
PR Times Inc *		7,200		71
Prestige International Inc		15,900		70
Pronexus Inc		16,200		111


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Proto Corp		3,800	$	30
QB Net Holdings Co Ltd		3,500		37
Qol Holdings Co Ltd		18,600		210
Raccoon Holdings Inc		19,400		99
Rasa Corp		4,500		42
Recruit Holdings Co Ltd		170,900		5,248
Relo Group Inc		103,500		1,453
Renesas Electronics Corp *		60,600		993
Resona Holdings Inc		3,807,600		17,265
Resonac Holdings Corp *		910,300		13,897
Rheon Automatic Machinery Co Ltd		1,622		17
Ricoh Co Ltd		130,500		1,089
Riken Keiki Co Ltd		2,000		68
Riso Kagaku Corp		2,300		36
Rix Corp		1,400		27
Rohm Co Ltd		28,300		2,392
Rohto Pharmaceutical		91,900		1,954
RS Technologies Co Ltd *		5,100		115
Ryobi Ltd		23,000		254
Sakai Heavy Industries Ltd		1,000		31
Sakai Moving Service Co Ltd		1,000		32
San ju San Financial Group Inc		5,300		57
Sangetsu Corp		19,500		344
Sanken Electric Co Ltd		31,600		2,520
Sansan Inc *		40,900		500
Sansha Electric Manufacturing Co Ltd		3,900		35
Santen Pharmaceutical Co Ltd		43,100		391
Sanwa Holdings Corp		16,200		189
Sanyo Denki Co Ltd		1,000		53
Sanyo Shokai Ltd		11,300		127
Sato Holdings Corp		5,900		79
SB Technology Corp		10,800		186
SBI Shinsei Bank Ltd		104,000		2,091
SCREEN Holdings Co Ltd		13,500		1,410
Scroll Corp		14,000		88
Seiko Epson Corp		105,800		1,605
Seino Holdings Co Ltd		9,200		104
Sekisui Jushi Corp		5,200		75
SERAKU Co Ltd		22,000		253
Seria Co Ltd		19,200		312
Seven & i Holdings Co Ltd		174,600		7,304
SFP Holdings Co Ltd		3,600		47
Shibaura Machine Co Ltd		8,200		255
Shibusawa Warehouse Co Ltd/The		2,400		39
Shikoku Bank Ltd/The		5,700		34
Shimamura Co Ltd		65,100		5,871
Shimano Inc		53,900		8,453
Shinagawa Refractories Co Ltd		1,300		44
Shinnihon Corp		3,800		30
Shinnihonseiyaku Co Ltd		3,300		32
Shinsho Corp		1,200		45
Shionogi & Co Ltd		31,200		1,402


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Shizuoka Financial Group Inc		324,400	$	2,382
Shofu Inc		1,700		26
SIGMAXYZ Holdings Inc		10,700		84
Sinfonia Technology Co Ltd		4,900		57
SMK Corp		1,400		23
SMS Co Ltd *		551,600		11,457
Sodick Co Ltd		12,000		60
Sojitz Corp		52,500		1,050
Solasto Corp		5,400		23
Sompo Holdings Inc		31,700		1,291
Sosei Group Corp *		43,700		981
Sotetsu Holdings Inc		54,800		1,001
Speee Inc *(A)		5,500		75
Sprix Inc		2,400		14
Star Micronics Co Ltd		14,100		183
Studio Alice Co Ltd		1,600		24
Subaru Corp		1,033,300		17,742
Subaru Enterprise Co Ltd		500		33
SUMCO Corp		62,900		896
Sumitomo Heavy Industries Ltd		8,800		196
Sumitomo Mitsui Construction Co Ltd		41,600		104
Sumitomo Mitsui Financial Group Inc		171,500		6,970
Sumitomo Realty & Development Co Ltd		39,100		943
Sumitomo Riko Co Ltd		12,600		68
Sun Corp		4,400		54
Sundrug Co Ltd		35,000		995
Suntory Beverage & Food Ltd		88,200		3,239
Sun-Wa Technos Corp		8,400		130
Suzuken Co Ltd/Aichi Japan		7,700		193
Suzuki Co Ltd		6,500		42
System Research Co Ltd		1,600		27
System Support Inc		1,800		24
Systena Corp		44,900		97
T RAD Co Ltd		2,700		34
T&D Holdings Inc		455,700		6,204
Tadano Ltd		3,300		24
Taiho Kogyo Co Ltd, Cl A		5,300		29
Takara Standard Co Ltd		12,500		153
Takashimaya Co Ltd		359,900		4,827
Takeda Pharmaceutical Co Ltd		492,500		15,584
Takeuchi Manufacturing Co Ltd		8,900		240
Takuma Co Ltd		22,400		228
Tayca Corp		4,400		39
TechMatrix Corp		9,400		124
Teikoku Electric Manufacturing Co Ltd		10,100		163
Temairazu Inc		4,000		111
Tera Probe Inc		2,400		53
TIS Inc		112,100		3,137
Tocalo Co Ltd		4,100		40
Tochigi Bank Ltd/The		17,500		29
Toei Animation Co Ltd		121,500		11,279
Toho Holdings Co Ltd		36,400		662


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Tokio Marine Holdings Inc		316,300	$	7,118
Tokuyama Corp		71,400		1,102
Tokyo Seimitsu Co Ltd		39,600		1,718
Tokyotokeiba Co Ltd		9,500		271
Tokyu Fudosan Holdings Corp		834,300		4,443
Tomy Co Ltd		39,700		469
Topcon Corp		22,500		313
Toray Industries Inc		2,154,900		11,370
Toshiba TEC Corp		1,100		32
Toyo Engineering Corp *		25,300		95
Toyo Suisan Kaisha Ltd		56,300		2,454
Trancom Co Ltd		600		28
Transcosmos Inc *		8,700		205
Trend Micro Inc/Japan *		97,000		4,610
Tri Chemical Laboratories Inc		6,600		117
Trusco Nakayama Corp		6,700		101
Tsubakimoto Chain Co		4,700		111
Tsugami Corp		17,900		168
Tsuruha Holdings Inc		7,400		511
Uluru Co Ltd *		700		8
Ulvac Inc		2,100		85
Union Tool Co		1,900		43
Unipres Corp		11,000		77
United Arrows Ltd		24,400		412
USS Co Ltd		2,400		39
V Technology Co Ltd		7,200		133
ValueCommerce Co Ltd		9,800		98
VINX Corp		6,700		69
Vision Inc/Tokyo Japan *		6,900		85
Visional Inc *		16,400		838
Waseda Academy Co Ltd		3,800		37
West Japan Railway Co		44,400		1,856
Will Group Inc		3,600		26
WingArc1st Inc		3,000		51
Wowow Inc		2,300		17
Xebio Holdings Co Ltd		13,700		109
YAMABIKO Corp		4,300		44
YAMADA Consulting Group Co Ltd		2,000		24
Yamae Group Holdings Co Ltd		9,100		159
Yamaichi Electronics Co Ltd		10,700		159
Yamashin-Filter Corp		19,900		45
Yamato Holdings Co Ltd		167,900		3,068
Yamazen Corp		12,800		93
Yokogawa Electric Corp		140,500		2,647
Yokohama Rubber Co Ltd/The		164,400		3,451
Yokowo Co Ltd		11,200		138
Yondenko Corp		1,900		28
Yorozu Corp		4,600		26
Yossix Holdings Co Ltd		7,500		119
Yushin Precision Equipment Co Ltd		5,700		28
Zensho Holdings Co Ltd		92,500		3,761
ZIGExN Co Ltd		34,200		166


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ZOZO Inc		51,400	$	1,046
				820,222

Kuwait — 0.0%
Boubyan Bank KSCP		965,281		1,882

Luxembourg — 0.3%
ArcelorMittal SA		874,930		21,668

Macao — 0.8%
Galaxy Entertainment Group Ltd *		3,981,000		24,690
Sands China Ltd *		9,642,400		31,224
Wynn Macau Ltd *		1,120,400		959
				56,873

Malaysia — 0.0%
Alliance Bank Malaysia Bhd		211,000		158
British American Tobacco Malaysia Bhd		14,600		32
Carlsberg Brewery Malaysia Bhd		6,500		29
Fraser & Neave Holdings Bhd		8,200		45
Genting Plantations Bhd (Malaysia)		18,900		25
Heineken Malaysia Bhd		52,700		303
Hong Leong Financial Group Bhd		63,920		240
Jaya Tiasa Holdings BHD		301,300		40
Malayan Flour Mills Bhd		90,100		13
Pantech Group Holdings Bhd		216,400		35
QL Resources Bhd		469,400		564
				1,484

Mexico — 0.6%
America Movil SAB de CV		20,141,200		21,232
Arca Continental SAB de CV		130,300		1,312
Banco del Bajio SA		475,300		1,489
Coca-Cola Femsa SAB de CV ADR		16,295		1,349
Grupo Aeroportuario del Pacifico SAB de CV, Cl B		64,800		1,137
Qualitas Controladora SAB de CV		117,900		794
Southern Copper Corp		92,490		6,176
Ternium SA ADR		220,521		8,228
Wal-Mart de Mexico SAB de CV		408,300		1,547
				43,264

Netherlands — 4.9%
ABN AMRO Bank NV		540,911		7,846
ASML Holding NV		48,233		34,529
BE Semiconductor Industries NV		10,038		1,103
EXOR NV		17,408		1,441
HAL Trust		2,129		281
Heineken Holding NV		15,092		1,280
ING Groep NV		4,489,278		55,077
Koninklijke Ahold Delhaize NV		1,231,436		38,939
Koninklijke Philips NV *		3,503,429		65,908
Koninklijke Vopak NV		65,018		2,277
NN Group NV		463,359		16,657
QIAGEN NV *		23,305		1,052


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Randstad NV		612,952	$	29,968
Signify NV		1,550,000		39,395
TomTom NV *		3,305		25
Universal Music Group NV		688,259		13,574
Van Lanschot Kempen NV		23,755		648
Wolters Kluwer NV		449,885		51,224
				361,224

New Zealand — 0.0%
Auckland International Airport Ltd *		263,430		1,401
Mainfreight Ltd		60		3
				1,404

Norway — 0.6%
AutoStore Holdings Ltd *		3,312,781		6,954
DNB Bank ASA		264,634		4,413
Equinor ASA (A)		776,028		19,761
Gjensidige Forsikring ASA		611,632		10,237
Hoegh Autoliners ASA		23,870		133
Kongsberg Gruppen ASA		16,965		677
MPC Container Ships ASA		291,948		547
Norsk Hydro ASA (A)		264,612		1,593
Opera Ltd ADR *		3,447		54
				44,369

Peru — 0.0%
Cia de Minas Buenaventura SAA ADR		166,068		1,131
Credicorp Ltd		7,377		955
				2,086

Philippines — 0.0%
BDO Unibank Inc		651,606		1,578
International Container Terminal Services Inc		238,600		829
LT Group Inc		134,400		23
SM Investments Corp		75,110		1,242
				3,672

Poland — 0.1%
Bank Handlowy w Warszawie SA		7,685		149
Budimex SA		282		22
Cognor Holding SA		17,446		29
Enea SA *		10,963		17
Eurocash SA		17,597		69
LiveChat Software SA		886		28
PGE Polska Grupa Energetyczna SA *		428,413		676
PlayWay SA		252		23
Powszechny Zaklad Ubezpieczen SA		1,005,103		9,117
STS Holding SA		15,654		72
TEN Square Games SA (A)		9,375		181
				10,383

Portugal — 0.2%
EDP - Energias de Portugal SA		261,730		1,273


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Jeronimo Martins SGPS SA		456,715	$	10,994
				12,267

Qatar — 0.1%
Aamal Co		623,035		140
Industries Qatar QSC		642,891		2,116
Ooredoo QPSC		654,105		1,907
Qatar Insurance Co SAQ *		283,249		159
Qatar National Bank QPSC		928,791		4,085
Qatari Investors Group QSC		229,054		109
				8,516

Romania — 0.0%
NEPI Rockcastle NV		362,051		2,058

Russia — 0.0%
Globaltrans Investment PLC GDR *(B)		6,013		–

Saudi Arabia — 1.0%
Abdullah Al Othaim Markets Co		2,479		90
Al Hammadi Holding		76,000		1,039
Alamar Foods		4,904		171
Arab National Bank		103,885		705
Arabian Cement Co/Saudi Arabia		61,495		616
Arabian Centres Co Ltd		25,802		142
Arabian Internet & Communications Services Co		31,837		2,496
Astra Industrial Group		142,790		2,749
Banque Saudi Fransi		8,566		91
Bawan Co		63,991		563
Co for Cooperative Insurance/The		24,800		752
Dar Al Arkan Real Estate Development Co *		664,375		2,728
Dr Sulaiman Al Habib Medical Services Group Co		36,437		2,594
Electrical Industries Co *		3,670		40
Elm Co		42,038		5,030
Etihad Etisalat Co		1,201,344		13,772
Gulf Insurance Group		10,272		79
Mobile Telecommunications Co Saudi Arabia		636,554		2,339
Mouwasat Medical Services Co		22,793		1,367
Nahdi Medical Co		18,708		849
National Co for Learning & Education		5,919		179
Saudi Basic Industries Corp		878,500		20,658
Saudi Electricity Co		1,116,359		6,429
Saudi Investment Bank/The		192,167		862
Saudi Marketing Co		9,715		71
Saudi Telecom Co		663,747		7,654
Saudia Dairy & Foodstuff Co		7,370		603
Savola Group/The		28,214		270
Tabuk Cement Co *		16,455		70
				75,008

Singapore — 0.3%
DBS Group Holdings Ltd		228,900		5,119


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Genting Singapore Ltd		11,213,800	$	8,360
Jardine Cycle & Carriage Ltd		55,600		1,327
Mapletree Logistics Trust ^‡		703,200		862
Marco Polo Marine Ltd *		1,552,200		57
Oversea-Chinese Banking Corp Ltd		157,500		1,426
Sea Ltd ADR *		13,855		795
Sembcorp Industries Ltd		471,400		1,750
Singapore Airlines Ltd		921,500		4,360
				24,056

South Africa — 0.5%
AECI Ltd		10,310		44
ArcelorMittal South Africa Ltd *		135,846		24
Astral Foods Ltd		5,512		40
Clicks Group Ltd		1,398,465		16,549
DRDGOLD Ltd ADR		7,770		90
Exxaro Resources Ltd		104,149		842
Gold Fields Ltd ADR		101,239		1,531
Growthpoint Properties Ltd ^‡		2,379,202		1,403
Ninety One Ltd		15,696		32
Old Mutual Ltd (A)		491,051		264
Sanlam Ltd		1,070,837		2,804
Sappi Ltd (A)		106,592		235
Standard Bank Group Ltd		106,461		814
Thungela Resources Ltd		34,176		238
Tiger Brands Ltd		2,063,545		15,655
Zeda Ltd/South Africa *		7,065		3
				40,568

South Korea — 4.1%
Ahnlab Inc		6,320		300
BNK Financial Group Inc		875,082		4,424
Celltrion Pharm Inc *		15,145		972
Daeduck Co Ltd		8,141		41
Daishin Securities Co Ltd		9,096		92
DGB Financial Group Inc		134,012		708
Echo Marketing Inc		10,040		85
Fila Holdings Corp		1,250,000		34,234
GS Holdings Corp		6,988		203
Hana Financial Group Inc		559,876		17,485
HD Hyundai Construction Equipment Co Ltd		8,614		388
Hyundai Motor Co		9,887		1,490
Innocean Worldwide Inc		1,509		44
InnoWireless Co Ltd		2,096		44
JASTECH Ltd		4,134		27
KB Financial Group Inc		358,174		12,953
Kia Corp		42,056		2,722
KT&G Corp		685,000		43,146
LG Chem Ltd		1,755		916
LG Corp		615,460		39,879
LG Electronics Inc		178,779		16,541
LG Energy Solution Ltd *		2,267		1,023
LG HelloVision Co Ltd		10,849		36


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
LG Uplus Corp		272,002	$	2,303
Lock&Lock Co Ltd		5,109		23
Lotte Data Communication Co		2,142		46
Meritz Financial Group Inc		29,314		993
Mgame Corp *		3,992		24
Multicampus Co Ltd		1,193		31
OCI Co Ltd/New *		3,312		361
OCI Holdings Co Ltd		7,310		475
Sajodaerim Corp		1,585		34
Samsung Biologics Co Ltd *		1,735		1,025
Samsung Card Co Ltd		11,760		266
Samsung Electronics Co Ltd		1,758,550		94,602
Seoyon E-Hwa Co Ltd		7,172		104
Shinhan Financial Group Co Ltd		528,798		13,965
SJ Group Co Ltd		2,025		20
SK Hynix Inc		14,181		1,160
SK Telecom Co Ltd		225,840		8,457
Taeyoung Engineering & Construction Co Ltd		9,770		29
TK Corp		13,412		182
Tongyang Life Insurance Co Ltd *		18,051		51
Unid Co Ltd		3,050		140
				302,044

Spain — 1.4%
Amadeus IT Group SA, Cl A		410,900		29,306
CaixaBank SA		4,610,045		16,843
Cia de Distribucion Integral Logista Holdings SA		39,194		972
Iberdrola SA		206,761		2,513
Industria de Diseno Textil SA		1,664,579		55,527
Vidrala SA		8,644		818
				105,979

Sweden — 2.0%
Alfa Laval AB		37,759		1,352
Assa Abloy AB, Cl B		812,525		17,977
Atlas Copco AB, Cl A		834,696		12,121
Beijer Ref AB, Cl B		102,639		1,514
Biotage AB		3,704		48
Epiroc AB, Cl A		46,642		814
Essity AB, Cl B		995,131		26,370
Fortnox AB		228,973		1,471
H & M Hennes & Mauritz AB, Cl B		1,811,443		22,542
Hexagon AB, Cl B		1,553,050		17,951
Inwido AB		23,366		207
Lifco AB, Cl B		15,995		337
Munters Group AB		120,555		1,456
Mycronic AB		3,748		83
Nibe Industrier AB, Cl B		179,606		1,709
Rvrc Holding AB		11,989		34
Saab AB, Cl B		16,256		882
Securitas AB, Cl B		2,947,539		21,644


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
SKF AB, Cl B		101,746	$	1,607
SSAB AB, Cl B		146,288		903
Svenska Handelsbanken AB, Cl A		461,691		3,637
Volvo AB, Cl B		780,875		14,368
Wihlborgs Fastigheter AB		160,450		1,144
				150,171

Switzerland — 4.4%
ABB Ltd		216,856		7,890
Belimo Holding AG		1,065		483
BKW AG		7,559		1,350
Calida Holding AG		1,116		49
Cie Financiere Richemont SA, Cl A		196,216		31,027
dormakaba Holding AG		273		124
Dufry AG *		19,526		879
Georg Fischer AG		21,284		1,398
Holcim AG		45,799		2,813
Julius Baer Group Ltd		277,262		16,876
Kuehne + Nagel International AG		68,572		19,436
Nestle SA		269,920		31,859
Novartis AG		187,230		17,852
On Holding AG, Cl A *		38,888		1,067
Partners Group Holding AG		23,514		21,113
Roche Holding AG		176,660		55,695
Schindler Holding AG		28,963		5,975
Sonova Holding AG		16,574		4,232
Straumann Holding AG		28,412		4,137
Swatch Group AG/The, Cl B		239,067		70,767
Swiss Life Holding AG		2,074		1,193
Swiss Re AG		9,472		945
Swisscom AG		9,077		5,727
u-blox Holding AG		3,173		408
UBS Group AG		1,108,015		20,896
Vontobel Holding AG		15,640		996
Zehnder Group AG		2,587		201
				325,388

Taiwan — 3.6%
Accton Technology Corp		184,000		2,114
Acer Inc		621,000		623
ACES Electronic Co Ltd		45,000		44
Advantech Co Ltd		178,000		2,358
Ampire Co Ltd		121,000		147
Asustek Computer Inc		1,139,000		11,306
Axiomtek Co Ltd		20,000		52
Chicony Electronics Co Ltd		170,000		586
Chief Telecom Inc		3,000		35
Chin-Poon Industrial Co Ltd		77,000		79
Chipbond Technology Corp		310,000		676
ChipMOS Technologies Inc		143,000		184
Chung-Hsin Electric & Machinery Manufacturing Corp		367,000		1,368
Compal Electronics Inc		1,854,000		1,680


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Cyberlink Corp		55,000	$	168
CyberPower Systems Inc		43,000		265
eMemory Technology Inc		50,000		2,994
Ennoconn Corp		24,000		222
Evergreen Marine Corp Taiwan Ltd		2,610,800		13,000
Formosa Advanced Technologies Co Ltd		34,000		48
Gemtek Technology Corp		211,000		216
General Interface Solution Holding Ltd		702,184		1,680
General Plastic Industrial Co Ltd		29,000		32
Getac Holdings Corp		43,000		97
Gigabyte Technology Co Ltd		265,000		1,608
Grand Process Technology Corp		4,000		62
Hannstar Board Corp		113,000		155
Harvatek Corp		147,000		112
Himax Technologies Inc ADR (A)		15,242		105
Holtek Semiconductor Inc		457,000		1,046
Hon Hai Precision Industry Co Ltd		8,884,000		30,791
Hua Nan Financial Holdings Co Ltd		2,005,000		1,452
Innodisk Corp		63,000		687
International Games System Co Ltd		128,000		2,362
Inventec Corp		1,086,000		1,302
ITE Technology Inc		66,000		241
Jarllytec Co Ltd		48,000		114
Kaori Heat Treatment Co Ltd		86,000		690
Keystone Microtech Corp		31,000		220
King Yuan Electronics Co Ltd		179,000		315
L&K Engineering Co Ltd		193,000		394
Lanner Electronics Inc		44,000		195
Largan Precision Co Ltd		580,000		42,753
Lite-On Technology Corp		1,403,000		4,064
Lotes Co Ltd		279,000		7,908
Micro-Star International Co Ltd		100,000		540
Mitac Holdings Corp		210,000		218
Novatek Microelectronics Corp		1,461,311		20,236
Pixart Imaging Inc		53,000		190
Pou Chen Corp		4,924,000		5,072
Powertech Technology Inc		72,000		234
Qisda Corp		369,000		506
Quanta Computer Inc		558,000		2,116
Radiant Opto-Electronics Corp		35,000		134
Raydium Semiconductor Corp		41,000		468
Realtek Semiconductor Corp		1,113,000		13,837
Sanyang Motor Co Ltd		440,000		1,140
Shihlin Electric & Engineering Corp		964,000		4,674
Shin Zu Shing Co Ltd		65,000		198
Shiny Brands Group Co Ltd		10,000		72
Simplo Technology Co Ltd		484,000		4,883
Sitronix Technology Corp		82,000		600
Solteam Inc		40,000		59
Sunonwealth Electric Machine Industry Co Ltd		67,000		189
Sunplus Innovation Technology Inc		21,000		71


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sunrex Technology Corp		89,000	$	120
Taiwan Semiconductor Manufacturing Co Ltd		1,250,000		22,700
Taiwan Semiconductor Manufacturing Co Ltd ADR		295,808		29,164
Taiwan Surface Mounting Technology Corp		173,000		569
Taiwan Union Technology Corp		145,000		354
Tatung System Technologies Inc		20,000		42
Teco Electric and Machinery Co Ltd		2,550,000		4,249
United Integrated Services Co Ltd		355,000		2,646
Weblink International Inc		41,000		75
Wistron Corp		4,501,000		9,770
Wistron Information Technology & Services Corp		34,000		132
Wiwynn Corp		26,000		982
Yield Microelectronics Corp		53,146		210
Youngtek Electronics Corp		24,000		52
Yulon Motor Co Ltd		320,000		912
				263,964

Thailand — 1.1%
Advanced Information Technology PCL NVDR		260,200		38
Bangchak Corp PCL NVDR		941,800		866
Bangkok Bank PCL		1,761,600		8,251
Bangkok Bank PCL NVDR		3,596,500		16,846
Bangkok Dusit Medical Services PCL NVDR		1,207,400		980
Banpu PCL NVDR		15,688,300		3,719
Bluebik Group PCL NVDR		12,600		42
Bumrungrad Hospital PCL		140,200		898
Central Pattana PCL NVDR		475,600		922
Delta Electronics Thailand PCL		364,500		1,037
Eastern Water Resources Development and Management PCL NVDR		230,700		33
Kasikornbank PCL NVDR		756,400		2,815
Lam Soon Thailand PCL		90,000		13
LPN Development PCL NVDR		228,700		29
MC Group PCL NVDR		130,000		50
Minor International PCL		9,947,000		9,647
Pruksa Holding PCL		108,900		39
PTT Exploration & Production PCL		324,200		1,300
PTT Exploration & Production PCL NVDR		1,331,100		5,336
Regional Container Lines PCL		185,900		128
Sappe PCL NVDR		26,600		65
SCB X PCL		8,393,900		24,965
SISB PCL NVDR		117,800		134
Star Petroleum Refining PCL NVDR		8,468,400		2,008
Thai Oil PCL		75,169		93
Thai Oil PCL NVDR		324,600		403
Tipco Asphalt PCL NVDR		351,000		184
Union Auction PCL NVDR		173,300		51
				80,892


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Turkey — 0.1%
AG Anadolu Grubu Holding AS, Cl A		20,667	$	95
Agesa Hayat ve Emeklilik AS		206,876		293
Akbank TAS		6,100,352		4,657
Logo Yazilim Sanayi Ve Ticaret AS		55,549		146
Migros Ticaret AS		60,435		504
Sok Marketler Ticaret		328,234		431
Turk Hava Yollari AO *		141,414		982
Turkcell Iletisim Hizmetleri AS *		503,867		815
				7,923

United Arab Emirates — 0.4%
Abu Dhabi Commercial Bank PJSC		3,540,358		7,701
Abu Dhabi Islamic Bank PJSC		492,861		1,342
ADNOC Drilling Co PJSC		1,660,293		1,641
Air Arabia PJSC		1,073,929		661
Dubai Islamic Bank PJSC		1,293,778		1,853
Emaar Development PJSC		59,629		84
Emaar Properties PJSC		6,992,558		11,708
Emirates NBD Bank PJSC		563,134		2,093
National Marine Dredging Co *		201,644		1,049
Salik Co PJSC		700,274		564
Sharjah Islamic Bank		89,842		50
				28,746

United Kingdom — 12.6%
AG Barr PLC		5,335		33
Allfunds Group Plc		733,933		4,992
Anglo American PLC		315,500		8,695
Aviva PLC		8,473,697		41,400
Barclays PLC		28,915,890		54,238
BP PLC		7,800,000		43,822
BP PLC ADR		688,939		23,224
Breedon Group PLC		32,313		139
Burberry Group PLC		174,427		4,657
Centrica PLC		1,946,175		2,838
Clarkson PLC		1,023		36
Coca-Cola Europacific Partners PLC		207,021		12,916
Compass Group PLC		39,576		1,080
Concentric AB		431		8
ConvaTec Group PLC		4,790,948		12,042
Crest Nicholson Holdings plc		21,003		63
Dechra Pharmaceuticals PLC		289,541		11,986
Diageo PLC		1,219,711		50,597
Diploma PLC		186,332		7,002
dotdigital group plc		7,099		8
Endava PLC ADR *		22,592		1,102
Entain PLC		718,884		11,752
FDM Group Holdings PLC		9,669		80
Ferrexpo PLC		1,375,760		1,572
Frontier Developments PLC *		6,436		43
GSK PLC		3,126,030		52,165
GSK PLC ADR		51,213		1,721


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
HSBC Holdings PLC		3,408,888	$	24,949
Hunting PLC		2,292		6
Imperial Brands PLC		1,941,459		40,786
Inchcape PLC		2,604		25
Informa PLC		1,014,866		8,767
Intertek Group PLC		595,518		30,660
Investec PLC		773,765		3,925
ITV PLC		41,519,153		35,918
J Sainsbury PLC		8,402,347		28,180
London Stock Exchange Group PLC		182,071		19,294
Morgan Sindall Group PLC		293		7
NatWest Group PLC		5,261,920		16,930
Ninety One PLC (A)		215,776		434
Nomad Foods Ltd *		599,236		10,217
Pagegroup PLC		123,008		663
QinetiQ Group PLC		12,037		54
Reckitt Benckiser Group PLC		152,803		11,829
RELX PLC		1,027,563		31,999
Rio Tinto PLC ADR		99,157		5,855
Shell PLC		3,310,405		92,201
Smith & Nephew PLC		2,090,780		31,148
Smiths News PLC		201		–
Standard Chartered PLC		7,231,918		56,791
SThree PLC		3,037		14
Tesco PLC		8,183,677		26,453
TORM PLC, Cl A		7,056		178
Travis Perkins PLC		1,198,831		12,974
Unilever PLC		991,876		49,509
WPP PLC		4,150,000		43,915
				931,892

United States — 2.4%
Axalta Coating Systems Ltd *		452,187		13,118
Baker Hughes Co, Cl A		393,876		10,733
Gentex Corp		402,468		10,569
Harley-Davidson Inc		1,090,000		33,910
Intel Corp		1,177,321		37,015
Kyndryl Holdings Inc *		2,900,000		36,424
Western Union Co/The		3,100,000		35,309
				177,078

Vietnam — 0.1%
Vietnam Dairy Products JSC		2,710,800		7,630

Total Common Stock
(Cost $6,613,869) ($ Thousands)				6,973,943



PREFERRED STOCK — 2.3%
Brazil — 0.4%
Cia Energetica de Minas Gerais (C)		2,760,700		6,279
Gerdau SA (C)		363,405		1,712
Itau Unibanco Holding SA (C)		1,232,700		6,371


Description	Shares		Market Value ($ Thousands)
PREFERRED STOCK (continued)
Marcopolo SA (C)		116,300	$	105
Metalurgica Gerdau SA (C)		704,600		1,538
Petroleo Brasileiro SA (C)		3,006,000		15,388
Schulz SA (C)		31,000		36
				31,429

Germany — 1.9%
Henkel AG & Co KGaA (C)		872,779		69,357
Sartorius AG (C)		29,137		9,738
Schaeffler AG (C)		8,465		51
Volkswagen AG (C)		497,595		61,844
				140,990

Total Preferred Stock
(Cost $168,782) ($ Thousands)				172,419



EXCHANGE TRADED FUND — 0.1%
United States — 0.1%
iShares MSCI ACWI ex US ETF		178,555		8,538

Total Exchange Traded Fund
(Cost $8,860) ($ Thousands)				8,538



AFFILIATED PARTNERSHIP — 1.6%
SEI Liquidity Fund, LP
5.010% **^†(D)		113,914,964		113,942


Total Affiliated Partnership
(Cost $113,930) ($ Thousands)				113,942



CASH EQUIVALENT — 1.1%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		84,374,951		84,375

Total Cash Equivalent
(Cost $84,375) ($ Thousands)				84,375


Total Investments in Securities — 99.1%
(Cost $6,989,816) ($ Thousands)			$	7,353,217

A list of the open futures contracts held by the Fund at May 31, 2023 is as follows:

A list of the open OTC Swap agreement held by the Fund at May 31, 2023, is as follows:

The following table represents the top 50 individual stock exposures or those exceeding 1% of the Custom Basket Total Return Swap as of May 31, 2023:

	Percentages are based on Net Assets of $7,416,607 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
^‡	Real Estate Investment Trust.
(A)	Certain securities or partial positions of certain securities are on loan at May 31, 2023 (see Note 11).
(B)	Level 3 security in accordance with fair value hierarchy.
(C)	No interest rate available.
(D)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $113,942 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)⁽¹⁾

Total
($)

Common Stock

6,973,943

–

6,973,943

Preferred Stock

172,419

–

172,419

Exchange Traded Fund

8,538

–

8,538

Affiliated Partnership

–

113,942

–

113,942

Cash Equivalent

84,375

–

84,375

Total Investments in Securities

7,239,275

113,942

–

7,353,217

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		150			–			–		150
Unrealized Depreciation		(2,216	)		–			–		(2,216	)
OTC Swap
Total Return Swap*
Unrealized Depreciation		–			(916	)		–		(916	)
Total Other Financial Instruments		(2,066	)		(916	)		–		(2,982	)

(1) A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

^ This category includes securities with a value of $-.

*	Futures contracts and swap contracts are valued at the unrealized appreciation/(depreciation) on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 94.4%
Australia — 5.3%
Acrow Formwork and Construction Services		44,704	$	22
AngloGold Ashanti Ltd ADR		1,247		30
Ansarada Group Ltd *		2,656		2
ANZ Group Holdings Ltd		33,187		492
Ardent Leisure Group		19,534		6
Aristocrat Leisure Ltd		17,659		425
Bathurst Resources Ltd *		13,502		8
Bellevue Gold Ltd *		26,692		22
BHP Group Ltd		28,866		785
BlueScope Steel Ltd		33,687		404
Brambles Ltd		22,925		204
Civmec		28,600		15
Cochlear Ltd		173		27
Computershare Ltd		22,717		329
Danakali *		30,918		8
DGL Group *		12,682		10
Duratec		104,822		74
EBOS Group Ltd		1,376		35
Enero Group Ltd		5,703		6
Fortescue Metals Group Ltd		26,639		331
Goodman Group ^‡		7,398		94
GR Engineering Services Ltd		57,430		72
Grange Resources Ltd		28,832		10
Horizon Oil		206,613		20
Image Resources NL *		124,190		8
IPD Group		6,538		16
Lindsay Australia		100,363		81
Lottery Corp Ltd/The		14,781		48
Macmahon Holdings Ltd		286,343		23
MMA Offshore Ltd *		26,297		19
National Storage REIT ^‡		15,188		25
Neuren Pharmaceuticals Ltd *		2,639		24
Objective Corporation		1,974		18
Orica Ltd		981		10
Pact Group Holdings Ltd		74,109		32


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
People Infrastructure Ltd		14,928	$	28
Pro Medicus Ltd		3,620		139
Qantas Airways Ltd *		359,754		1,548
QBE Insurance Group Ltd		3,328		32
Ridley Corp Ltd		69,944		89
Rio Tinto Ltd		842		58
Rio Tinto PLC ADR		9,969		589
Seven Group Holdings Ltd		3,400		51
Silex Systems Ltd *		6,238		16
South32 Ltd		239,012		600
Sunland Group Ltd		12,739		11
Super Retail Group Ltd		4,040		30
Symbio Holdings Ltd		6,873		9
Technology One Ltd		10,209		108
Transurban Group		3,574		34
Viva Energy Group Ltd		14,080		29
Washington H Soul Pattinson & Co Ltd		1,119		23
Wesfarmers Ltd		760		23
WiseTech Global Ltd		1,642		80
Woodside Energy Group Ltd		2,134		47
Woolworths Group Ltd		4,817		117
Zimplats Holdings Ltd		2,665		41
				7,437

Austria — 0.4%
ANDRITZ AG		3,697		198
Frequentis AG		188		5
Kapsch TrafficCom AG *		746		8
Porr Ag		3,286		47
Raiffeisen Bank International AG		132		2
Strabag SE		389		16
Wienerberger AG		10,210		288
				564

Belgium — 0.1%
Ion Beam Applications		1,530		25
Jensen-Group NV		345		11
Solvay SA		667		69
				105

Bermuda — 0.0%
Conduit Holdings		772		5

Brazil — 1.6%
3R PETROLEUM OLEO E GAS SA *		77,600		455
Aliansce Sonae Shopping Centers sa		5,300		22
Ambev SA *		27,000		76
Banco do Brasil SA		5,000		44
Cosan SA		7,700		23
CPFL Energia SA		156,300		927
Empresa Siderurgica del Peru SAA		28,617		10
Gerdau SA ADR		48,560		229
Petroleo Brasileiro SA ADR		28,213		326


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Yara International ASA		3,292	$	122
				2,234

Canada — 5.3%
Agnico Eagle Mines Ltd		1,462		74
AirBoss of America Corp		4,800		22
Alamos Gold Inc, Cl A		5,092		63
Amerigo Resources Ltd		54,300		56
Athabasca Oil Corp *		9,802		20
Bombardier Inc, Cl B *		752		30
Boyd Group Services Inc		137		25
Canadian National Railway Co		547		62
Canadian Solar Inc *		635		27
Canfor Corp *		17,300		244
Computer Modelling Group		6,059		31
Constellation Software Inc/Canada		84		171
Corby Spirit and Wine, Cl A		2,400		25
Crescent Point Energy Corp		3,692		23
D2L *		5,804		28
Descartes Systems Group Inc/The *		326		25
Dollarama Inc		10,654		647
Dundee Precious Metals Inc		3,588		25
Element Fleet Management Corp		2,793		42
Enghouse Systems Ltd		500		14
Fairfax Financial Holdings Ltd		152		109
Finning International Inc		6,923		187
Hammond Power Solutions Inc, Cl A		5,300		165
iA Financial Corp Inc		857		55
Keyera Corp		1,049		23
Kinaxis Inc *		372		50
Lucara Diamond Corp *		31,055		10
Lundin Gold Inc		3,422		43
Major Drilling Group International Inc *		1,800		12
Manulife Financial Corp		4,361		81
Martinrea International Inc		2,400		20
Melcor Developments Ltd		1,500		12
National Bank of Canada		6,854		491
Neo Performance Materials Inc		4,800		29
North American Construction Group		5,311		97
Open Text Corp		2,560		106
Pet Valu Holdings Ltd		340		8
PHX Energy Services Corp		12,429		54
Pizza Pizza Royalty Corp		2,700		29
Power Corp of Canada		300		8
Quebecor Inc, Cl B		68,241		1,625
RB Global Inc		1,901		99
Russel Metals Inc		1,239		32
Saputo Inc		1,590		41
Shopify Inc, Cl A *		1,464		84
SNC-Lavalin Group Inc		69,000		1,609
Stella-Jones Inc		638		28
Suncor Energy Inc		830		23
TC Energy Corp		602		23


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Torex Gold Resources Inc *		1,784	$	28
Toromont Industries Ltd		6,462		499
Total Energy Services Inc		7,500		48
Trilogy Metals Inc *		13,000		6
Uni-Select Inc *		962		33
				7,421

Chile — 0.0%
Enel Chile		429,017		23

China — 9.0%
361 Degrees International Ltd *		81,000		37
A8 New Media Group *		432,000		11
Agricultural Bank of China Ltd, Cl H		555,000		209
Anhui Gujing Distillery Co Ltd, Cl A		600		21
Anjoy Foods Group Co Ltd, Cl A		1,800		39
Anton Oilfield Services Group *		492,000		26
Baidu Inc ADR *		445		55
Bank of Communications Co Ltd, Cl H		92,000		59
Beijing Yanjing Brewery Co Ltd, Cl A		49,800		81
Castech Inc, Cl A		16,900		60
Changjiang Securities Co Ltd, Cl A		53,700		46
China Boqi Environmental Holding Co Ltd		121,000		14
China Coal Energy Co Ltd, Cl H		123,000		93
China Construction Bank Corp, Cl H		1,288,000		824
China Minsheng Banking Corp Ltd, Cl H		123,000		49
China Pacific Insurance Group Co Ltd, Cl H		138,000		349
China Resources Beer Holdings Co Ltd		4,000		25
China Resources Land Ltd		282,000		1,056
China Resources Sanjiu Medical & Pharmaceutical Co Ltd, Cl A		3,100		29
China Southern Power Grid Energy Efficiency&Clean Energy Co Ltd, Cl A		28,000		24
China Traditional Chinese Medicine Holdings Co Ltd		46,000		22
Chongqing Fuling Electric Power Industrial, Cl A		8,800		24
CNPC Capital Co Ltd, Cl A		40,900		45
COFCO Capital Holdings Co Ltd, Cl A		67,800		77
COSCO SHIPPING Energy Transportation Co Ltd, Cl H		24,000		20
CPMC Holdings Ltd		31,000		16
Gongniu Group, Cl A		1,100		24
Goodbaby International Holdings Ltd *		215,000		16
Haidilao International Holding Ltd		9,000		19
HUTCHMED China Ltd *		11,000		27
Industrial & Commercial Bank of China Ltd, Cl H		815,000		436
Inner Mongolia Yili Industrial Group Co Ltd, Cl A		235,800		956
iQIYI Inc ADR *		10,800		44
JA Solar Technology Co Ltd, Cl A		4,700		24
JD.com Inc ADR		773		25
Ju Teng International Holdings Ltd		59,000		12


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Launch Tech Co Ltd, Cl H *		77,500	$	22
Lenovo Group Ltd		294,000		276
Li Auto Inc ADR *		838		24
LONGi Green Energy Technology Co Ltd, Cl A		173,508		704
Luzhou Laojiao Co Ltd, Cl A		2,300		66
Midea Group Co Ltd, Cl A		181,200		1,309
MINISO Group Holding Ltd ADR *		8,421		128
Natural Food International Holding *		330,000		19
NetEase Inc		2,500		42
New China Life Insurance Co Ltd, Cl H		68,300		177
OneConnect Financial Technology ADR *		1,489		5
Oppein Home Group Inc, Cl A		42,763		571
PetroChina Co Ltd, Cl H		1,058,000		684
Ping An Insurance Group Co of China Ltd, Cl H		2,500		16
Prosus NV		1,475		97
Qianhe Condiment and Food Co Ltd, Cl A		7,900		23
Sany Heavy Equipment International Holdings Co Ltd		19,000		25
Shandong Himile Mechanical Science & Technology Co Ltd, Cl A		12,400		58
Shandong Weigao Group Medical Polymer Co Ltd, Cl H		14,400		21
Shenguan Holdings Group Ltd		1,084,000		52
Sichuan Changhong Electric Co Ltd, Cl A		50,400		32
SITC International Holdings Co Ltd		91,000		158
Tencent Holdings Ltd		17,300		686
Tencent Music Entertainment Group ADR *		34,803		242
Tianjin Development Holdings Ltd		58,000		12
Tianma Bearing Group, Cl A *		40,400		23
TK Group Holdings Ltd		30,000		6
Topsports International Holdings Ltd		914,000		710
TravelSky Technology Ltd, Cl H		16,000		29
Trip.com Group Ltd *		850		27
Vipshop Holdings Ltd ADR *		18,107		259
Weibo Corp ADR *		14,079		197
Wuliangye Yibin Co Ltd, Cl A		1,600		36
Wuxi Taiji Industry Co Ltd, Cl A *		37,300		38
XCMG Construction Machinery Co Ltd, Cl A		25,500		22
Xiangcai Co Ltd, Cl A		37,200		42
Xingye Alloy Materials Group *		61,000		9
Xinyi Glass Holdings Ltd		544,000		805
Yangling Metron New Material Inc, Cl A		3,900		24
Yifeng Pharmacy Chain Co Ltd, Cl A		3,300		23
Yum China Holdings Inc		550		31
Zhejiang Jinke Tom Culture Industry Co Ltd, Cl A *		32,000		31
ZTO Express Cayman Inc ADR *		1,591		40
				12,695

Czech Republic — 0.0%
CEZ AS		937		42


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Denmark — 3.8%
AP Moller - Maersk A/S, Cl B		247	$	414
Coloplast A/S, Cl B		2,252		283
Danske Bank A/S *		55,115		1,118
DSV A/S		2,753		529
Genmab A/S *		1,871		730
ISS A/S		4,009		76
Jyske Bank A/S *		345		24
Novo Nordisk A/S, Cl B		11,312		1,808
Pandora A/S		4,057		322
				5,304

Egypt — 0.0%
Eastern Co SAE		63,723		39

Finland — 0.2%
Alma Media Oyj		1,111		10
Consti Oyj		934		11
Kone Oyj, Cl B		2,528		128
Konecranes Oyj, Cl A		588		22
Metso		2,317		25
Nordea Bank Abp		10,741		105
				301

France — 5.4%
Adlpartner SACA		321		10
Axway Software SA		419		9
Christian Dior SE		237		196
Cie de Saint-Gobain		12,726		703
Clasquin		533		44
Ekinops SAS *		1,847		16
ESI Group *		116		14
Hermes International		370		750
La Francaise des Jeux SAEM		1,877		72
Legrand SA		4,732		446
LVMH Moet Hennessy Louis Vuitton SE		1,455		1,263
Neopost		4		–
Orange SA		122,197		1,455
Pernod Ricard SA		2,956		637
Poujoulat		560		16
Sodexo SA		11,278		1,215
SPIE SA		416		12
Vente-Unique.Com SA		1,514		18
Vinci SA		938		106
Worldline SA/France *		16,110		624
				7,606

Germany — 4.7%
Bastei Luebbe AG		2,568		11
Bayerische Motoren Werke AG		1,473		160
Beiersdorf AG		816		104
Bertrandt		339		17
Bijou Brigitte AG		2,156		124
CENIT AG		619		8


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Cewe Stiftung		400	$	38
Commerzbank AG		3,186		32
Deutsche Bank AG		2,655		27
Deutsche Boerse AG		229		39
Deutsche Lufthansa AG *		51,483		503
Duerr AG		638		19
E.ON SE		60,971		735
Fresenius SE & Co KGaA		15,030		410
GEA Group AG		1,484		62
Heidelberg Materials		370		26
HOCHTIEF AG		1,009		84
Infineon Technologies AG		4,063		150
Knorr-Bremse AG		2,274		155
Koenig & Bauer AG *		439		8
KSB SE & Co KGaA		47		27
Mercedes-Benz Group AG		1,547		115
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		1,270		452
Rational AG		79		53
Rheinmetall AG		6,640		1,674
RWE AG		543		23
SAP SE		8,135		1,060
Scout24 SE		6,060		388
SMA Solar Technology AG *		293		31
Stemmer Imaging		231		10
SUESS MicroTec SE		2,170		57
Traffic Systems SE		452		14
Traton SE		1,723		35
				6,651

Greece — 0.2%
Aegean Airlines SA *		5,789		62
Eurobank Ergasias Services and Holdings SA *		26,056		40
JUMBO SA *		1,656		38
National Bank of Greece SA *		5,253		32
Piraeus Financial Holdings SA *		9,727		29
Piraeus Port Authority SA *		1,814		39
				240

Hong Kong — 0.9%
AIA Group Ltd		45,200		434
Analogue Holdings Ltd		242,000		41
Build King Holdings Ltd		25,302		3
Chuang's China Investments Ltd		180,000		5
Dream International		20,000		10
HKT Trust & HKT Ltd		2,800		4
Jacobson Pharma		126,000		15
Johnson Electric Holdings Ltd		19,000		23
Lee's Pharmaceutical Holdings Ltd		130,500		24
Midland Holdings Ltd *		468,304		43
Nameson Holdings Ltd		94,000		6
New Times Energy *		578,000		8


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Orient Overseas International Ltd		13,500	$	165
PAX Global Technology Ltd		137,000		106
Perennial Energy Holdings Ltd		390,000		75
Plover Bay Technologies Ltd		64,000		18
Samson Holding Ltd		185,000		6
Sitoy Group Holdings		85,000		9
Smart-Core Holdings		134,000		31
Solargiga Energy Holdings *		465,000		12
Stella International Holdings Ltd		34,500		33
Sundart Holdings Ltd		274,000		16
Texwinca Holdings Ltd		629,257		88
Tian An China Investment		14,000		7
Time Watch Investments Ltd		263,233		12
Wharf Real Estate Investment Co Ltd		4,000		20
YTO International Express & Supply Chain Technology		132,000		26
				1,240

Hungary — 0.0%
MOL Hungarian Oil & Gas PLC		6,055		49

India — 2.2%
Anand Rathi Wealth		3,329		35
Andhra Paper		8,815		47
Andhra Sugars Ltd/The		29,055		39
Axis Bank Ltd		2,410		27
Bank of Baroda		32,849		73
Bengal & Assam		117		7
CG Power & Industrial Solutions		6,524		31
Cigniti Technologies		1,470		15
Coal India Ltd		5,853		17
Cummins India		3,296		70
Cyient Ltd		1,739		27
DB Corp Ltd		63,687		102
Dhampur Sugar Mills		9,000		27
Dhanuka Agritech		1,083		9
Forbes & Co Ltd *		596		4
GAIL India Ltd		18,717		24
Gujarat Pipavav Port Ltd		79,791		104
Gulf Oil Lubricants India Ltd		11,462		63
HDFC Bank Ltd ADR		11,136		717
Hindustan Aeronautics Ltd		1,256		47
ICICI Bank Ltd		9,072		104
IIFL Securities Ltd		43,051		31
ITC Ltd		15,102		81
J Kumar Infraprojects Ltd		18,171		56
Jagran Prakashan Ltd		11,086		9
Kirloskar Pneumatic Co Ltd		6,648		45
Kotak Mahindra Bank Ltd		2,689		66
KPIT Technologies Ltd		2,398		31
MPS		3,190		41
Nalwa Sons Investments *		389		10
Power Finance Corp Ltd		11,902		26


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
South Indian Bank Ltd/The		640,661	$	134
State Bank of India		10,056		71
Tech Mahindra Ltd		58,422		788
Varun Beverages Ltd		4,573		94
Vesuvius India		834		24
WNS Holdings Ltd ADR *		294		23
				3,119

Indonesia — 1.0%
ABM Investama Tbk PT		209,600		39
Adira Dinamika Multi Finance Tbk PT		44,200		30
Agung Podomoro Land Tbk PT *		870,600		8
Alam Sutera Realty Tbk PT *		806,600		9
Asahimas Flat Glass Tbk PT		33,200		11
Astra Otoparts Tbk PT		108,900		15
Asuransi Tugu Pratama Indonesia Tbk PT		432,200		34
Austindo Nusantara Jaya Tbk PT		198,800		9
Bank Central Asia Tbk PT		55,700		34
Bank Danamon Indonesia Tbk PT		164,900		30
Bank OCBC Nisp Tbk PT		220,300		15
Bank Rakyat Indonesia Persero Tbk PT		352,100		131
Baramulti Suksessarana Tbk PT		143,400		34
Bayan Resources Tbk PT		107,000		107
Bekasi Fajar Industrial Estate Tbk PT *		4,486,100		47
BISI International Tbk PT		370,703		40
Bukit Asam Tbk PT		987,000		201
Bumitama Agri Ltd		39,200		16
Cisadane Sawit Raya Tbk PT		517,300		14
Elnusa Tbk PT		4,519,600		100
Hexindo Adiperkasa Tbk PT		44,000		16
Indika Energy Tbk PT		774,800		89
Jasa Armada Indonesia Tbk PT		995,800		19
Mandala Multifinance Tbk PT		272,500		33
Map Aktif Adiperkasa *		40,600		17
Mitrabahtera Segara Sejati Tbk PT *		409,600		35
Mitrabara Adiperdana Tbk PT		36,000		14
Nippon Indosari Corpindo Tbk PT		179,000		15
Pelita Samudera Shipping Tbk PT		866,400		36
Prima Andalan Mandiri Tbk PT		48,500		15
Resource Alam Indonesia Tbk PT		611,300		18
Salim Ivomas Pratama Tbk PT		323,500		8
Samudera Indonesia Tbk PT		648,490		15
Tunas Baru Lampung Tbk PT		338,285		14
United Tractors Tbk PT		99,800		148
				1,416

Iraq — 0.1%
Genel Energy		27,528		38
Gulf Keystone Petroleum Ltd		17,361		28
				66

Ireland — 1.2%
AerCap Holdings NV *		547		31
Greencore Group PLC *		200,581		199


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ICON PLC *		7,013	$	1,494
kneat.com inc *		4,900		10
				1,734

Israel — 1.5%
Carasso Motors Ltd		1,500		8
Check Point Software Technologies Ltd *		12,425		1,551
First International Bank Of Israel Ltd/The		718		27
Nice Ltd ADR *		1,119		230
Perion Network Ltd *		736		23
RADCOM *		1,374		13
Wix.com Ltd *		2,376		181
				2,033

Italy — 1.8%
Assicurazioni Generali SpA		1,492		28
Brunello Cucinelli SpA		795		69
Enel SpA		15,641		98
Ferrari NV		359		102
Infrastrutture Wireless Italiane SpA		3,930		50
Intesa Sanpaolo SpA		60,622		139
Iveco Group NV *		2,341		18
Moncler SpA		391		26
Orsero SpA		5,429		74
PRADA SpA		3,600		24
Prysmian SpA		14,994		554
UniCredit SpA		72,362		1,382
				2,564

Japan — 12.3%
77 Bank Ltd/The		1,600		28
ABC-Mart Inc		1,400		76
Advantest Corp		5,800		744
Aeon Mall Co Ltd		3,800		48
AGS Corp		1,700		8
Ainavo Holdings Co Ltd		1,875		14
Ajinomoto Co Inc		3,300		128
ANA Holdings Inc *		6,500		144
Asahi Group Holdings Ltd		42,300		1,638
Asahi Kogyosha Co Ltd		500		8
Asia Air Survey Co Ltd		1,800		12
Atled Corp		1,100		11
Avant Group Corp		2,400		23
Bank of Kyoto Ltd/The		1,000		47
BayCurrent Consulting Inc		900		33
BIPROGY Inc		1,200		29
Business Brain Showa-Ota Inc		3,300		51
Capcom Co Ltd		10,546		411
Central Automotive Products Ltd		600		13
Central Sports		600		10
Chiba Bank Ltd/The		12,700		79
Chilled & Frozen Logistics Holdings Co Ltd		1,500		13
Chino Corp		1,200		19
Credit Saison Co Ltd		2,000		27


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Digital Arts Inc		1,100	$	45
en Japan Inc		1,400		23
Enshu Truck Co Ltd		1,100		19
Entrust Inc		2,800		18
eSOL		1,300		9
Fancl Corp		1,500		24
Fixstars Corp		900		9
FTGroup Co Ltd		1,100		8
Fuji Kyuko Co Ltd		700		26
FUJIFILM Holdings Corp		4,200		257
Fujitsu Ltd		1,674		212
Fukuoka Financial Group Inc		1,300		24
Gecoss Corp		1,600		10
Gunma Bank Ltd/The		7,200		26
H2O Retailing Corp		2,400		25
Hisamitsu Pharmaceutical Co Inc		900		23
Hitachi Ltd		30,600		1,762
Hito Communications Holdings Inc		3,100		32
Hokkaido Gas Co Ltd		1,000		15
Hokuriku Gas Co Ltd		500		11
Hoya Corp		4,000		503
IR Japan Holdings Ltd		700		8
Isetan Mitsukoshi Holdings Ltd		7,000		71
Isuzu Motors Ltd		5,800		67
Iwaki Co Ltd		2,600		23
Iwatani Corp		1,000		47
Japan Exchange Group Inc		24,400		398
JMS Co Ltd		2,300		9
Kamigumi Co Ltd		2,300		51
Kanefusa Corp		2,300		12
Kanro		1,300		18
Keihan Holdings Co Ltd		1,300		33
Keikyu Corp		3,700		35
Keyence Corp		500		243
Kimura Unity Co Ltd		2,700		21
Kita-Nippon Bank Ltd/The		1,200		17
Kobayashi Pharmaceutical Co Ltd		2,400		135
Kotobuki Spirits Co Ltd		400		30
Kuraray Co Ltd		2,800		26
Kyowa Electronic Instruments Co Ltd		9,800		24
Lasertec Corp		200		31
Macnica Holdings		1,100		40
Marui Group Co Ltd		5,300		89
Matching Service Japan Co Ltd		2,300		16
Matsui Construction		2,500		12
Medipal Holdings Corp		3,000		47
Meiji Electric Industries Co Ltd		1,100		10
MIMAKI ENGINEERING CO LTD		7,700		40
Mitsubishi HC Capital Inc		4,500		24
Mitsubishi Materials Corp		3,900		65
Mitsui High-Tec Inc		400		27
Mizuho Financial Group Inc		4,500		66


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Mizuho Leasing Co Ltd		900	$	27
Morito Co Ltd		1,800		13
MS&AD Insurance Group Holdings Inc		3,100		106
Murata Manufacturing Co Ltd		1,300		76
Nagoya Railroad Co Ltd		2,700		44
NEC Corp		8,200		384
Nicca Chemical Co Ltd		1,500		9
Nice Corp		1,700		16
Nichirei Corp		2,200		47
Nihon Chouzai Co Ltd		1,000		8
Nihon Trim Co Ltd		1,900		38
Nintendo Co Ltd		1,500		64
Nippon Paint Holdings Co Ltd		3,600		28
Nissan Motor Co Ltd		16,100		60
Nissin Foods Holdings Co Ltd		1,400		119
Nissui Corp		9,700		43
Nitori Holdings Co Ltd		400		49
NJS Co Ltd		1,900		34
Nomura Real Estate Holdings Inc		1,500		36
OBIC Business Consultants Co Ltd		1,000		36
Obic Co Ltd		600		97
Ochi Holdings Co Ltd		1,200		10
Open House Group Co Ltd		1,400		54
Optim Corp *		7,000		52
Oracle Corp Japan *		500		38
ORIX Corp		115,400		1,962
Oro Co Ltd		4,200		71
Otsuka Corp		2,500		94
Otsuka Holdings Co Ltd		1,700		63
Panasonic Holdings		5,100		53
Pasco Corp		1,300		15
Persol Holdings Co Ltd		5,700		108
Pigeon Corp		7,700		109
Recruit Holdings Co Ltd		300		9
Relo Group Inc		1,500		21
Renesas Electronics Corp *		1,600		26
Resonac Holdings Corp *		93,300		1,424
Riken Technos Corp		9,200		39
Rohto Pharmaceutical		2,800		60
Sanken Electric Co Ltd		2,500		199
Sankyo Seiko		2,500		9
SBI Shinsei Bank Ltd		2,000		40
Seed		3,400		14
Sekisui Kasei		6,800		19
SERAKU Co Ltd		800		9
Shimano Inc		1,300		204
Shionogi & Co Ltd		4,200		189
Shizuoka Financial Group Inc		8,100		59
SK-Electronics Co Ltd		6,400		84
SMK Corp		1,200		20
SMS Co Ltd *		14,100		293
Sojitz Corp		1,300		26


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sompo Holdings Inc		6,400	$	261
Sosei Group Corp *		1,100		25
Sotetsu Holdings Inc		1,500		27
Space Co Ltd		1,500		11
Step Co Ltd		2,500		32
Sumitomo Realty & Development Co Ltd		1,100		27
Sundrug Co Ltd		900		26
Suntory Beverage & Food Ltd		2,300		84
Takashimaya Co Ltd		9,700		130
Tayca Corp		234		2
Toei Animation Co Ltd		3,100		288
Toho System Science		1,300		10
Tokio Marine Holdings Inc		11,600		261
Tokuyama Corp		1,500		23
Tokyo Rakutenchi		300		9
Tokyu Construction Co Ltd		1,700		8
Tokyu Fudosan Holdings Corp		21,600		115
Tonami Holdings Co Ltd		600		18
Toyo Machinery & Metal Co Ltd		1,800		8
Toyo Suisan Kaisha Ltd		1,400		61
Trend Micro Inc/Japan *		100		5
Tsubakimoto Kogyo Co Ltd		700		19
UNITED Inc/Japan		9,600		52
Visional Inc *		600		31
West Japan Railway Co		1,200		50
Xebio Holdings Co Ltd		8,900		71
YAMADA Consulting Group Co Ltd		1,400		17
Yamato Holdings Co Ltd		4,300		79
Yokogawa Electric Corp		3,000		57
Yokohama Rubber Co Ltd/The		4,200		88
Yondenko Corp		1,700		25
Zensho Holdings Co Ltd		2,000		81
ZIGExN Co Ltd		29,400		143
ZOZO Inc		2,500		51
				17,332

Kuwait — 0.0%
Boubyan Bank KSCP		25,179		49

Macao — 0.1%
Galaxy Entertainment Group Ltd *		4,000		25
Sands China Ltd *		6,800		22
Wynn Macau Ltd *		35,200		30
				77

Malaysia — 0.5%
Allianz Malaysia Bhd		15,800		50
Apex Healthcare Bhd		14,600		13
Bermaz Auto Bhd		126,800		59
CB Industrial Product Holding Bhd		175,800		35
CCK Consolidated Holdings		96,800		16
Chin Well Holdings Bhd		93,700		27
Datasonic Group		89,800		9
Favelle Favco Bhd		25,000		10


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Heineken Malaysia Bhd		6,200	$	36
Innoprise Plantations BHD		116,300		32
Kawan Food Bhd		194,100		84
Kim Loong Resources Bhd		164,100		65
LBS Bina Group		243,900		22
Mah Sing Group Bhd		301,700		39
MKH Bhd		99,700		26
Mynews Holdings *		181,400		18
Padini Holdings Bhd		63,800		51
Panasonic Manufacturing Malaysia		1,700		8
Power Root Bhd		61,400		27
QL Resources Bhd		22,700		27
Scicom MSC Bhd		60,700		15
Sunway Construction Group		46,300		17
Taliworks Corp Bhd		174,900		31
Wellcall Holdings Bhd		91,400		23
				740

Mexico — 1.5%
America Movil SAB de CV		1,570,100		1,655
Arca Continental SAB de CV		2,800		28
Banco del Bajio SA		8,600		27
Cia Minera Autlan SAB de CV		26,241		21
Coca-Cola Femsa SAB de CV ADR		337		28
Grupo Aeroportuario del Pacifico SAB de CV, Cl B		2,100		37
Grupo Financiero Inbursa SAB de CV, Cl O *		11,100		25
Industrias Penoles *		1,600		24
Qualitas Controladora SAB de CV		3,000		20
Southern Copper Corp		2,311		154
Wal-Mart de Mexico SAB de CV		12,100		46
				2,065

Netherlands — 5.8%
ABN AMRO Bank NV		22,153		321
ASML Holding NV		1,250		895
BE Semiconductor Industries NV		261		29
EXOR NV		146		12
ING Groep NV		157,605		1,934
Koninklijke Vopak NV		1,715		60
NN Group NV		46,664		1,677
Shell PLC		48,817		1,343
SNS Reaal *(A)		1,762		–
TomTom NV *		5,757		44
Universal Music Group NV		17,913		353
Van Lanschot Kempen NV		1,160		32
Wolters Kluwer NV		12,232		1,393
				8,093

New Zealand — 0.2%
Aroa Biosurgery *		53,968		33
Auckland International Airport Ltd *		5,768		31
Briscoe Group Ltd		10,569		28
Mainfreight Ltd		23		1


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
PGG Wrightson Ltd		3,382	$	8
Rakon Ltd		49,213		29
Scales		15,631		30
Steel & Tube Holdings Ltd		53,444		36
Synlait Milk *		17,367		16
TOWER		28,328		10
				222

Norway — 0.7%
AutoStore Holdings Ltd *		81,689		171
Equinor ASA		17,626		449
Gjensidige Forsikring ASA		15,929		267
Odfjell, Cl A		4,342		36
Wallenius Wilhelmsen ASA, Cl B		4,163		24
Western Bulk Chartering AS		2,730		8
Wilh Wilhelmsen Holding ASA, Cl B		397		9
Wilson ASA		2,535		15
				979

Peru — 0.0%
Cia de Minas Buenaventura SAA ADR		3,244		22
Credicorp Ltd		181		24
				46

Philippines — 0.1%
BDO Unibank Inc		17,094		41
Delta Djakarta Tbk PT		36,800		9
Ginebra San Miguel Inc		4,770		12
LT Group Inc		115,700		20
San Miguel Food and Beverage Inc		18,700		16
Semirara Mining & Power Corp, Cl A		60,100		30
SM Investments Corp		1,680		28
				156

Poland — 0.4%
AB SA		838		9
Answear.com, Cl A *		1,209		10
ComArch SA		1,972		68
Develia *		18,338		17
Enter Air *		2,381		27
LiveChat Software SA		1,678		52
Lubelski Wegiel Bogdanka SA		5,277		48
PCC Rokita SA, Cl B		654		16
PKP Cargo SA *		20,870		84
PlayWay SA		120		11
Powszechny Zaklad Ubezpieczen SA		4,784		43
Spyrosoft *		79		8
Stalprodukt SA		672		47
Synektik		871		13
Torpol		2,241		8
Unimot SA		3,081		83
VRG SA		9,417		7
Wielton SA *		5,143		10


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Wittchen		1,777	$	15
				576

Portugal — 0.0%
EDP - Energias de Portugal SA		6,822		33

Qatar — 0.3%
Doha Insurance QSC		18,972		11
Ooredoo QPSC		146,969		428
Qatar National Cement Co QSC		35,899		39
				478

Romania — 0.0%
NEPI Rockcastle NV		6,948		39

Russia — 0.0%
Exillon Energy PLC *		4,819		–

Saudi Arabia — 0.2%
Al Hammadi Holding		1,698		23
Co for Cooperative Insurance/The		641		20
Dr Sulaiman Al Habib Medical Services Group Co		1,169		83
Etihad Etisalat Co		4,437		51
Mouwasat Medical Services Co		586		35
				212

Singapore — 0.6%
Boustead Singapore Ltd		35,165		21
BRC Asia Ltd		77,500		94
China Aviation Oil Singapore Corp Ltd		18,900		12
Delfi Ltd		31,900		31
Genting Singapore Ltd		314,700		235
HRnetgroup Ltd		61,100		34
IGG Inc *		62,000		32
Mapletree Logistics Trust ^‡		19,000		23
Marco Polo Marine Ltd *		1,612,100		60
OM Holdings Ltd		105,911		40
Oversea-Chinese Banking Corp Ltd		4,000		36
Pacific Century Regional Developments Ltd		56,000		15
Samudera Shipping Line Ltd		78,200		52
Sea Ltd ADR *		348		20
Sembcorp Industries Ltd		12,200		45
SembCorp Marine Ltd *		283,300		26
Sing Investments & Finance Ltd		32,550		24
Tiong Seng Holdings Ltd *		7,037		–
				800

South Africa — 0.7%
Anglo American PLC		283		8
Clicks Group Ltd		36,241		429
Combined Motor Holdings Ltd		9,481		13
Exxaro Resources Ltd		7,219		58
Gold Fields Ltd ADR		2,488		38
Ninety One Ltd		9,910		20
Sanlam Ltd		24,550		64


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sappi Ltd		46,269	$	102
Standard Bank Group Ltd		2,471		19
Thungela Resources Ltd		18,798		131
Zeda Ltd/South Africa *		81,146		37
				919

South Korea — 2.5%
Celltrion Pharm Inc *		394		25
CROWNHAITAI Holdings Co Ltd		6,658		32
Daeduck Co Ltd		4,997		25
Dasan Networks *		7,318		19
Dongwon F&B Co Ltd		9,335		221
Eusu Holdings Co Ltd		11,497		58
Hana Financial Group Inc		13,996		437
Hansol Holdings Co Ltd		13,363		31
Heungkuk Fire & Marine Insurance *		5,931		14
Hyundai Motor Co		256		39
InnoWireless Co Ltd		1,897		40
KB Financial Group Inc		406		15
Kia Corp		1,179		76
Korea District Heating Corp *		664		13
Kukbo Design		1,270		16
LG Chem Ltd		47		25
LG Electronics Inc		1,610		149
LG Energy Solution Ltd *		60		27
Maeil Holdings Co Ltd		10,283		68
MegaStudy Co Ltd		4,696		40
Meritz Financial Group Inc		774		26
Mirae Asset Life Insurance Co Ltd *		4,310		10
Multicampus Co Ltd		1,570		41
Posco International Corp		1,184		27
Sajodaerim Corp		1,514		33
Samsung Electronics Co Ltd GDR		1,402		1,891
SeAH Holdings Corp		205		18
SGC e Tec E&C Co Ltd		2,418		46
SK Hynix Inc		377		31
Spigen Korea		650		17
Tongyang Life Insurance Co Ltd *		6,809		19
WiSoL		5,409		29
				3,558

Spain — 1.1%
Applus Services		1,089		10
Cia de Distribucion Integral Logista Holdings SA		1,033		26
Iberdrola SA		5,282		64
Industria de Diseno Textil SA		43,758		1,460
Vidrala SA		416		39
				1,599

Sweden — 1.6%
Alfa Laval AB		860		31
Assa Abloy AB, Cl B		21,156		468
Atea		4,441		59


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Atlas Copco AB, Cl A		5,000	$	73
B3 Consulting Group AB		3,019		36
Beijer Ref AB, Cl B		2,244		33
Bulten		2,373		22
Essity AB, Cl B		3,581		95
FM Mattsson Mora Group AB, Cl B		1,866		10
Fortnox AB		5,711		37
H & M Hennes & Mauritz AB, Cl B		10,698		133
Hexagon AB, Cl B		40,321		466
Lagercrantz Group AB, Cl B		2,556		31
Lindab International AB		2,341		37
Munters Group		5,923		71
Mycronic AB		1,571		35
Nibe Industrier AB, Cl B		8,605		82
SSAB AB, Cl B		3,785		23
Svenska Handelsbanken AB, Cl A		12,153		96
Volvo AB, Cl B		24,062		443
Wihlborgs Fastigheter AB		4,237		30
				2,311

Switzerland — 2.7%
ABB Ltd		5,610		204
Cie Financiere Richemont SA, Cl A		5,248		830
CPH Chemie & Papier Holding AG		91		9
Georg Fischer AG		449		29
Implenia AG		851		43
Klingelnberg *		428		9
Kuehne + Nagel International AG		738		209
Novartis AG		4,868		464
On Holding AG, Cl A *		806		22
Partners Group Holding AG		612		549
Schindler Holding AG		707		146
Sika AG		1,519		413
Straumann Holding AG		157		23
Swatch Group AG/The, Cl B		1,823		540
Swiss Life Holding AG		72		41
Swisscom AG		326		206
Vontobel Holding AG		373		24
				3,761

Taiwan — 2.7%
104 Corp		9,000		63
Accton Technology Corp		5,000		57
Advantech Co Ltd		5,000		66
Asia Tech Image Inc		14,000		32
Chien Kuo Construction Co Ltd		42,000		19
ChipMOS Technologies Inc		74,000		95
Chung-Hsin Electric & Machinery Manufacturing Corp		18,000		67
DV Biomed		7,564		16
Eagle Cold Storage Enterprise		10,000		10
Evergreen Marine Corp Taiwan Ltd		7,200		36
Formosa Optical Technology		10,000		27


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
General Plastic Industrial Co Ltd		16,000	$	18
Global Lighting Technologies		11,000		20
HIM International Music Inc		7,000		24
Hua Nan Financial Holdings Co Ltd		51,000		37
Innodisk Corp		16,000		174
Insyde Software Corp		18,000		72
Kaori Heat Treatment Co Ltd		4,000		32
Kingwaytek Technology		10,000		31
Lida Holdings Ltd		13,000		15
Lotes Co Ltd		7,000		198
Nova Technology		8,000		28
Novatek Microelectronics Corp		25,000		346
Quanta Computer Inc		15,000		57
Realtek Semiconductor Corp		23,000		286
Rich Honour International Designs Co Ltd		11,000		21
San Fang Chemical Industry		17,000		13
Sanyang Motor Co Ltd		11,000		29
Shih Her Technologies		8,000		17
Shihlin Electric & Engineering Corp		31,000		150
Sonix Technology Co Ltd		9,000		15
Sunonwealth Electric Machine Industry Co Ltd		24,000		68
TA Chen Stainless Pipe		18,000		26
Taishin Financial Holding Co Ltd		45,000		27
Taiwan Semiconductor Manufacturing Co Ltd ADR		7,703		759
Teco Electric and Machinery		66,000		110
Tofu Restaurant		6,000		51
Topco Technologies		6,000		14
TSC Auto ID Technology Co Ltd		5,000		38
United Integrated Services Co Ltd		6,000		45
Well Shin Technology		38,000		69
Wholetech System Hitech		4,158		7
Winmate		8,000		30
Wistron Corp		140,000		304
Wistron Information Technology & Services Corp		9,000		35
X-Legend Entertainment Co Ltd		15,000		23
Yield Microelectronics Corp		7,869		31
Yulon Motor Co Ltd		11,000		31
				3,739

Thailand — 3.1%
Bangkok Bank PCL		12,400		58
Bangkok Bank PCL NVDR		94,000		440
Bangkok Dusit Medical Services PCL NVDR		57,900		47
Bumrungrad Hospital PCL		4,100		26
Central Pattana PCL NVDR		13,000		25
Haad Thip PCL		24,600		30
Kang Yong Electric PCL		1,600		14
Khonburi Sugar NVDR		93,000		22
Krung Thai Bank NVDR NVDR		45,000		25
Ladprao General Hospital PCL		109,600		17


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Lanna Resources PCL		410,900	$	182
Lanna Resources PCL NVDR		217,700		96
Minor International PCL		905,700		878
Namyong Terminal NVDR		192,800		23
Netbay PCL		42,700		27
PTT Exploration & Production PCL NVDR		47,300		190
SCB X PCL		717,400		2,134
Silicon Craft Technology NVDR		119,880		33
Srivichai Vejvivat PCL		44,600		10
Thai Oil PCL NVDR		1,962		3
Thai Stanley Electric PCL		7,500		47
Thai Wah NVDR		69,200		9
Thantawan Industry PCL		8,900		7
Univanich Palm Oil PCL		158,800		38
				4,381

Turkey — 0.1%
Agesa Hayat ve Emeklilik AS		26,486		38
Akbank TAS		18,784		14
Turk Hava Yollari AO *		4,078		28
Turkcell Iletisim Hizmetleri AS *		5,888		10
Turkiye Petrol Rafinerileri AS		3,213		10
				100

United Arab Emirates — 0.2%
Abu Dhabi Aviation Co		10,953		21
Abu Dhabi Islamic Bank PJSC		10,322		28
Abu Dhabi National Insurance Co PSC		6,055		9
ADNOC Drilling Co PJSC		31,952		31
Air Arabia PJSC		41,698		26
Emaar Properties PJSC		22,199		37
Emirates NBD Bank PJSC		9,584		36
Ferrexpo PLC		4,015		5
National Marine Dredging Co *		5,347		28
Orascom Construction PLC		15,067		57
				278

United Kingdom — 6.8%
Allfunds Group Plc		19,103		130
BP PLC ADR		18,591		627
Breedon Group PLC		26,575		114
Burberry Group PLC		710		19
Cerillion PLC		3,698		60
CNH Industrial NV		36,360		463
Compass Group PLC		1,177		32
ConvaTec Group PLC		360,733		907
Dechra Pharmaceuticals PLC		7,500		311
Diageo PLC		12,853		533
Diploma PLC		4,926		185
dotdigital group plc		26,458		29
Entain PLC		57,921		947
GSK PLC ADR		8,185		275
Hargreaves Services PLC		2,957		15
Hunting PLC		2,706		7


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Impellam Group PLC *		3,091	$	27
Informa PLC		100,359		867
Intertek Group PLC		6,861		353
Investec PLC		72,074		366
Kitwave Group PLC		4,617		15
London Stock Exchange Group PLC		4,744		503
Macfarlane Group PLC		19,861		27
Mears Group PLC		19,138		57
Mercia Asset Management PLC		54,167		18
Morgan Sindall Group PLC		2,919		66
NatWest Group PLC		141,508		455
Nomad Foods Ltd *		54,681		932
Norcros PLC		15,712		33
NWF Group PLC		8,792		28
Record PLC		24,577		26
RELX PLC		26,757		833
Ricardo		8,698		60
Robert Walters PLC		4,945		27
Rolls-Royce Holdings PLC *		79,592		141
Victorian Plumbing Group		8,761		9
				9,497

United States — 5.5%
Accenture PLC, Cl A		2,236		684
Aon PLC, Cl A		2,836		874
Axalta Coating Systems Ltd *		44,009		1,277
BRP Inc		5,215		370
CSL Ltd		721		143
Currency Exchange International *		2,600		44
Gentex Corp		36,768		966
GSK PLC		14,044		234
Holcim AG		1,714		105
Justin Allen Holdings		230,000		16
Molson Coors Canada Inc, Cl B		600		37
Monday.com Ltd *		927		167
Roche Holding AG		150		47
Samsonite International SA *		470,000		1,194
Sanofi		13,882		1,404
Spotify Technology SA *		724		108
Stellantis NV		1,355		20


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Swiss Re AG		458	$	46
				7,736

Total Common Stock
(Cost $130,271) ($ Thousands)				132,664



EXCHANGE TRADED FUND — 0.6%
United States — 0.6%
iShares MSCI ACWI ex US ETF		16,667		797

Total Exchange Traded Fund
(Cost $832) ($ Thousands)				797



PREFERRED STOCK — 0.3%
Brazil — 0.1%
Metalurgica Gerdau SA (B)		11,000		24
Petroleo Brasileiro SA (B)		26,500		136
				160

Germany — 0.2%
Sartorius AG (B)		764		255

Total Preferred Stock
(Cost $500) ($ Thousands)				415



CASH EQUIVALENT — 1.6%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		2,233,808		2,234

Total Cash Equivalent
(Cost $2,234) ($ Thousands)				2,234


Total Investments in Securities — 96.9%
(Cost $133,837) ($ Thousands)			$	136,110

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open OTC Swap agreement held by the Fund at May 31, 2023, is as follows:

The following table represents the top 50 individual stock exposures or those exceeding 1% of the Custom Basket Total Return Swap as of May 31, 2023:

The following table represents the individual stock exposures comprising the Net Short Custom Basket Total Return Swap as of May 31, 2023:

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 93.3%
Argentina — 0.0%
YPF SA ADR *		710	$	8

Australia — 0.2%
AMP Ltd		79,293		56
Brambles Ltd		1,201		11
Dexus *^‡		15,200		81
Fortescue Metals Group Ltd		1,230		15
Goodman Group ^‡		1,257		16
Macquarie Group Ltd		257		28
Steadfast Group Ltd		18,078		69
Technology One Ltd		7,222		77
Telstra Group Ltd		3,547		10
Wesfarmers Ltd		504		16
Woolworths Group Ltd		802		19
				398

Austria — 0.3%
BAWAG Group AG		591		26
Erste Group Bank AG		11,853		382
OMV AG		2,337		104
Vienna Insurance Group AG Wiener Versicherung Gruppe		3,100		80
voestalpine AG		2,496		77
				669

Belgium — 0.4%
Ageas SA/NV		1,882		75
Anheuser-Busch InBev SA/NV		13,837		736
Etablissements Franz Colruyt NV		2,100		70
				881

Brazil — 0.3%
Ambev SA		69,173		194
Banco BTG Pactual SA		14,200		73
Banco do Brasil SA		33,000		288
Cia de Saneamento do Parana		10,300		41


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Telefonica Brasil SA		10,500	$	83
				679

Canada — 0.5%
Alimentation Couche-Tard Inc		1,205		58
Canadian Imperial Bank of Commerce		1,400		58
Canadian Tire Corp Ltd, Cl A		700		84
Cogeco Communications Inc		1,500		71
Dollarama Inc		373		23
Element Fleet Management Corp		6,972		105
Fairfax Financial Holdings Ltd		26		19
Intact Financial Corp		538		79
Loblaw Cos Ltd		2,144		187
Open Text Corp		5,026		209
Quebecor Inc, Cl B		4,263		101
Russel Metals Inc		1,056		28
Shopify Inc, Cl A *		1,781		102
Stella-Jones Inc		1,202		53
West Fraser Timber Co Ltd		123		8
				1,185

Chile — 0.0%
Antofagasta PLC		930		16
Enel Chile SA		1,415,649		77
				93

China — 2.6%
3SBio Inc		73,500		74
Air China Ltd, Cl H		94,000		71
Alibaba Group Holding Ltd *		24,792		247
Anhui Gujing Distillery Co Ltd, Cl B *		2,700		44
Bank of Communications Co Ltd, Cl H		167,000		108
Beijing Capital International Airport Co Ltd, Cl H		180,172		126
Beijing Enterprises Holdings Ltd		24,500		95
Beijing-Shanghai High Speed Railway Co Ltd, Cl A *		50,400		41
BOE Technology Group Co Ltd, Cl A		136,800		76
BYD Co Ltd, Cl H		11,500		347
C&D International Investment Group Ltd		15,871		40
China Construction Bank Corp, Cl H		559,000		358
China Petroleum & Chemical Corp, Cl H		244,000		154
China Railway Signal & Communication Corp Ltd, Cl H		296,000		121
China Resources Medical Holdings Co Ltd		93,770		74
China Shenhua Energy Co Ltd, Cl H		28,000		89
China Southern Airlines Co Ltd, Cl H		238,507		137
China State Construction International Holdings Ltd		36,850		42
China Tower Corp Ltd, Cl H		2,122,000		233
CNOOC Energy Technology & Services Ltd, Cl A *		316,900		147
Guangdong Zhongnan Iron & Steel Co Ltd, Cl A		165,000		67


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Guangshen Railway Co Ltd, Cl H		56,000	$	16
Guangzhou Baiyun International Airport Co Ltd, Cl A		31,600		63
Hello Group Inc ADR		3,318		27
JD Health International Inc *		1,100		7
KE Holdings Inc ADR *		12,448		177
Kingdee International Software Group Co Ltd		16,000		21
Kuaishou Technology, Cl B *		1,100		7
Lens Technology Co Ltd, Cl A		40,700		67
Li Auto Inc ADR *		2,634		76
Liuzhou Iron & Steel Co Ltd, Cl A		65,500		38
Meituan, Cl B *		22,015		310
New Oriental Education & Technology Group Inc *		8,297		32
Nongfu Spring Co Ltd, Cl H		1,600		9
NXP Semiconductors NV		62		11
Offshore Oil Engineering Co Ltd, Cl A *		60,100		52
People's Insurance Co Group of China Ltd/The, Cl H		268,000		101
PetroChina Co Ltd, Cl H		108,000		70
PICC Property & Casualty Co Ltd		260,000		310
Ping An Insurance Group Co of China Ltd, Cl H		1,500		10
Shaanxi Coal Industry Co Ltd, Cl A *		9,800		23
Shanghai International Airport Co Ltd, Cl A		36,600		240
Shenzhen Expressway Corp Ltd, Cl H		42,000		35
Shougang Fushan Resources Group Ltd		264,000		81
Sinopharm Group Co Ltd, Cl H		77,715		255
Tencent Holdings Ltd		21,890		869
Tencent Music Entertainment Group ADR *		7,654		53
Tingyi Cayman Islands Holding Corp		84,000		126
TravelSky Technology Ltd, Cl H		41,323		75
Uni-President China Holdings Ltd		78,698		68
Visionox Technology Inc, Cl A *		20,100		21
Xian International Medical Investment Co Ltd, Cl A		4,000		5
Yonghui Superstores Co Ltd, Cl A		127,097		57
Yutong Bus Co Ltd, Cl A		91,000		166
				6,169

Czech Republic — 0.1%
Komercni Banka AS		7,167		213

Denmark — 0.3%
Carlsberg AS, Cl B		87		13
Novo Nordisk A/S, Cl B		4,270		683
Scandinavian Tobacco Group A/S		5,200		85
				781

Egypt — 0.0%
Ezz Steel Co SAE		45,432		57
Telecom Egypt Co		22,501		18
				75


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Estonia — 0.0%
Enefit Green AS		17,776	$	92

Finland — 0.7%
Elisa Oyj, Cl A		223		12
Kesko Oyj, Cl B		605		11
Metso Oyj		41,686		455
Nokia Oyj		146,024		591
Orion Oyj, Cl B		276		12
Stora Enso Oyj, Cl R		50,068		632
				1,713

France — 3.4%
Alstom SA		13,095		359
AXA SA		31,284		881
BNP Paribas SA		15,048		867
Bouygues SA		2,506		80
Carrefour SA		4,600		84
Cie de Saint-Gobain		12,124		670
Credit Agricole SA		1,212		14
Dassault Systemes SE		423		19
Edenred		4,206		269
Engie SA		1,561		23
Hermes International		454		921
IPSOS		1,004		49
Kering SA		740		393
Legrand SA		151		14
LVMH Moet Hennessy Louis Vuitton SE		292		253
Orange SA		7,700		92
Pernod Ricard SA		879		189
Publicis Groupe SA		8,693		642
Rexel SA		33,218		677
Societe BIC SA		1,600		95
SPIE SA		3,347		99
Technip Energies NV		3,363		67
TotalEnergies SE		20,074		1,136
Veolia Environnement SA		1,013		30
				7,923

Germany — 1.9%
Allianz SE		3,417		729
Bayerische Motoren Werke AG		173		19
Commerzbank AG		17,723		178
Continental AG		4,665		310
Covestro AG		18,401		707
Deutsche Post AG		1,746		78
Deutsche Telekom AG		15,635		346
Fresenius Medical Care AG & Co KGaA		14,223		606
GEA Group AG		244		10
Hannover Rueck SE		151		32
Heidelberg Materials AG		7,181		512
Mercedes-Benz Group AG		1,927		143
Rheinmetall AG		485		122
SAP SE		5,336		695


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Telefonica Deutschland Holding AG		4,643	$	13
				4,500

Greece — 0.2%
Danaos Corp		104		6
Fourlis Holdings SA		20,524		96
Mytilineos SA		5,212		164
Profile Systems & Software SA		16,000		67
Sarantis SA		14,046		111
				444

Hong Kong — 0.1%
SSY Group Ltd		80,000		49
Sun Hung Kai Properties Ltd		5,000		64
				113

Hungary — 0.9%
Magyar Telekom Telecommunications PLC		214,881		258
MOL Hungarian Oil & Gas PLC		39,613		321
OTP Bank Nyrt		17,741		551
Richter Gedeon Nyrt		41,546		1,042
				2,172

India — 1.8%
Bharat Electronics Ltd *		64,855		88
Canara Bank		6,596		25
CG Power & Industrial Solutions Ltd		14,937		71
Cholamandalam Investment and Finance Co Ltd		25,339		322
Cummins India Ltd		2,902		62
Federal Bank Ltd *		30,114		46
Housing Development Finance Corp Ltd		245		8
ICICI Bank Ltd *		4,085		47
Indian Oil Corp Ltd *		68,950		75
IndusInd Bank Ltd		4,468		69
Infosys Ltd ADR		6,553		104
InterGlobe Aviation Ltd *		287		8
ITC Ltd		53,547		288
Jindal Steel & Power Ltd *		51,023		319
JSW Steel Ltd		3,782		32
Karur Vysya Bank Ltd/The *		28,004		36
Kotak Mahindra Bank Ltd *		1,061		26
Mahindra & Mahindra Financial Services Ltd		68,804		236
Mahindra & Mahindra Ltd		10,702		171
Narayana Hrudayalaya Ltd		4,949		53
Nestle India Ltd		900		236
NHPC Ltd *		105,600		55
NMDC Ltd *		143,055		185
Oil & Natural Gas Corp Ltd *		54,269		102
Oil India Ltd *		37,200		116
Power Finance Corp Ltd		118,437		261
REC Ltd		157,420		269
Shriram Finance Ltd		4,594		78


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Steel Authority of India Ltd *		148,071	$	148
Sun Pharmaceutical Industries Ltd *		4,125		49
Tata Consultancy Services Ltd *		9,018		358
Tata Motors Ltd *		14,938		95
TVS Motor Co Ltd		3,210		50
Varun Beverages Ltd		5,905		121
				4,209

Indonesia — 0.1%
Adaro Minerals Indonesia Tbk PT *		70,361		4
Bank Central Asia Tbk PT		16,100		10
Bank Mandiri Persero Tbk PT		403,400		136
Bank Rakyat Indonesia Persero Tbk PT		35,100		13
BFI Finance Indonesia Tbk PT		98,400		9
Gudang Garam Tbk PT		5,200		9
Indika Energy Tbk PT		38,780		4
Indofood Sukses Makmur Tbk PT		49,700		24
Kalbe Farma Tbk PT		357,763		48
Matahari Department Store Tbk PT		139,524		34
Sumber Alfaria Trijaya Tbk PT		292,608		52
				343

Ireland — 0.4%
Bank of Ireland Group PLC		15,527		146
CRH PLC		17,301		813
				959

Israel — 0.0%
Bank Leumi Le-Israel BM		11,149		78

Italy — 0.7%
Assicurazioni Generali SpA		637		12
BFF Bank SpA		3,681		38
Intesa Sanpaolo SpA		349,942		804
Mediobanca Banca di Credito Finanziario SpA		1,104		12
Snam SpA		3,202		17
Terna - Rete Elettrica Nazionale		1,119		9
UniCredit SpA		28,351		542
UnipolSai Assicurazioni SpA		34,200		81
				1,515

Japan — 12.3%
AEON REIT Investment Corp ^‡		70		80
Aisin Corp		35,200		1,010
Allegro MicroSystems Inc *		1,490		59
Alps Alpine Co Ltd		20,400		180
Aoyama Trading Co Ltd		11,100		101
Astellas Pharma Inc		700		11
BayCurrent Consulting Inc		2,136		78
Canon Inc		7,100		176
Capcom Co Ltd		300		12
Cosel Co Ltd		7,300		58
Credit Saison Co Ltd		44,600		612
Dai-ichi Life Holdings Inc		19,900		341


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Daiichi Sankyo Co Ltd		1,900	$	62
Daiwabo Holdings Co Ltd		2,069		38
DCM Holdings Co Ltd		10,500		94
Eizo Corp		4,800		164
en Japan Inc		16,300		271
EXEO Group Inc		18,600		354
FANUC Corp		24,000		824
Fuji Media Holdings Inc		18,600		178
FUJIFILM Holdings Corp		4,039		247
Fujikura Ltd		4,264		34
H.U. Group Holdings Inc		3,700		70
Hachijuni Bank Ltd/The		85,600		360
Hirogin Holdings Inc		51,900		282
Hokuhoku Financial Group Inc		15,300		117
Honda Motor Co Ltd		48,000		1,376
Internet Initiative Japan Inc		1,768		35
ITOCHU Corp		1,000		34
Itochu Enex Co Ltd		13,300		110
Japan Lifeline Co Ltd		22,700		167
Japan Tobacco Inc		6,666		145
JFE Holdings Inc		32,800		405
JGC Holdings Corp		20,900		254
JTEKT Corp		74,200		617
Kajima Corp		18,600		260
Kao Corp		28,200		984
KDDI Corp		2,400		74
Kirin Holdings Co Ltd		68,100		1,014
Komeri Co Ltd		12,400		261
K's Holdings Corp		22,400		193
Kuraray Co Ltd		33,500		316
Kyorin Pharmaceutical Co Ltd		12,900		160
Lintec Corp		14,800		232
Mabuchi Motor Co Ltd		11,100		301
Macnica Holdings Inc		658		24
Makita Corp		31,500		852
Marubeni Corp		3,800		54
MIRAIT ONE corp		8,300		103
Mitsubishi Corp		400		16
Mitsubishi Estate Co Ltd		90,400		1,037
Mitsubishi UFJ Financial Group Inc		87,000		581
Mitsui & Co Ltd		3,368		106
Mizuho Financial Group Inc		12,300		181
Morinaga Milk Industry Co Ltd		11,400		404
Murata Manufacturing Co Ltd		6,400		376
NH Foods Ltd		11,100		302
NIDEC CORP		12,700		631
Nippon Shinyaku Co Ltd		1,300		59
Nippon Shokubai Co Ltd		1,900		70
Nippon Telegraph & Telephone Corp		4,700		133
Nippon Television Holdings Inc		37,200		337
Nishi-Nippon Financial Holdings Inc		39,100		298
Nissin Foods Holdings Co Ltd		1,327		113


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
North Pacific Bank Ltd		92,700	$	170
NSK Ltd		174,600		1,056
NTT Data Corp		2,951		42
Obayashi Corp		22,100		178
Oji Holdings Corp		20,700		80
OSG Corp		16,800		231
Otsuka Corp		1,900		72
Pack Corp/The		4,100		86
Panasonic Holdings Corp		1,700		18
Rengo Co Ltd		9,000		53
Rohto Pharmaceutical Co Ltd		3,478		74
Ryohin Keikaku Co Ltd		20,700		203
Sanrio Co Ltd		1,376		55
Sawai Group Holdings Co Ltd		10,400		246
Seiko Epson Corp		22,300		338
Seino Holdings Co Ltd		33,500		379
Senko Group Holdings Co Ltd		12,300		81
Sohgo Security Services Co Ltd		5,500		155
Stanley Electric Co Ltd		13,000		262
Subaru Corp		6,900		118
Sumitomo Corp		900		17
Sumitomo Electric Industries Ltd		35,600		421
Sumitomo Heavy Industries Ltd		13,000		289
Sumitomo Mitsui Financial Group Inc		26,500		1,077
Sumitomo Mitsui Trust Holdings Inc		24,700		867
Suzuken Co Ltd/Aichi Japan		5,900		148
Taiheiyo Cement Corp		15,600		265
Takeda Pharmaceutical Co Ltd		300		9
Teijin Ltd		200		2
Toagosei Co Ltd		13,000		112
Toho Holdings Co Ltd		11,100		202
Tokyo Electron Ltd		537		74
Tokyo Gas Co Ltd		26,000		552
Toray Industries Inc		154,000		813
Toyo Ink SC Holdings Co Ltd		4,000		61
Toyo Suisan Kaisha Ltd		1,598		70
Toyoda Gosei Co Ltd		20,000		329
Toyota Tsusho Corp		400		18
Trusco Nakayama Corp		12,800		193
United Arrows Ltd		7,000		118
UT Group Co Ltd		4,200		83
Xebio Holdings Co Ltd		9,100		73
Yakult Honsha Co Ltd		3,226		209
Yamada Holdings Co Ltd		96,900		286
Yamaha Motor Co Ltd		3,906		96
Yamato Holdings Co Ltd		7,400		135
				28,844

Kazakhstan — 0.4%
Halyk Savings Bank of Kazakhstan JSC GDR		38,076		489
Kaspi.KZ JSC GDR		6,772		542
				1,031


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Luxembourg — 0.3%
APERAM SA		7,824	$	255
ArcelorMittal SA		13,086		324
Reinet Investments SCA		6,136		121
				700

Malaysia — 0.1%
Dayang Enterprise Holdings Bhd		6,451		2
Evergreen Fibreboard Bhd		126,172		7
Gamuda Bhd		44,752		43
Heineken Malaysia Bhd		1,900		11
KPJ Healthcare Bhd		122,000		31
RHB Bank Bhd		82,700		96
				190

Mexico — 0.5%
Alsea SAB de CV *		40,282		117
Arca Continental SAB de CV		7,008		71
Coca-Cola Femsa SAB de CV		9,277		77
Grupo Aeroportuario del Sureste SAB de CV, Cl B		340		9
Grupo Bimbo SAB de CV, Ser A		35,054		187
Grupo Financiero Banorte SAB de CV, Cl O		12,900		103
Kimberly-Clark de Mexico SAB de CV, Cl A		22,500		46
Orbia Advance Corp SAB de CV		8,113		17
Southern Copper Corp		436		29
Ternium SA ADR		13,210		493
				1,149

Netherlands — 0.6%
ABN AMRO Bank NV		9,411		137
Aegon NV		3,602		16
Heineken NV		239		24
ING Groep NV		54,635		670
Koninklijke Ahold Delhaize NV		8,452		267
NN Group NV		2,200		79
Shell PLC		4,700		129
Wolters Kluwer NV		218		25
				1,347

New Zealand — 0.0%
Spark New Zealand Ltd		2,641		8

Norway — 0.0%
Austevoll Seafood ASA		6,400		50
Norsk Hydro ASA		1,928		12
				62

Pakistan — 0.0%
Habib Bank Ltd		63,667		17
Meezan Bank Ltd		19,751		6
				23

Philippines — 0.1%
Aboitiz Power Corp		34,400		23
Alliance Global Group Inc		28,400		7


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Bloomberry Resorts Corp *		60,600	$	11
DMCI Holdings Inc		438,600		74
LT Group Inc		125,400		21
Megaworld Corp		379,945		14
Universal Robina Corp		20,236		50
				200

Poland — 1.6%
Amica SA		5,355		101
Bank Handlowy w Warszawie SA		9,891		192
Bank Polska Kasa Opieki SA		16,529		374
Benefit Systems SA		468		146
Budimex SA		1,884		149
CAPITEA SA *		158,863		–
CCC SA *		4,300		46
ComArch SA		2,742		94
Eurocash SA		3,503		14
Grupa Azoty SA *		743		4
Grupa Kety SA		3,012		403
Inter Cars SA		1,738		215
Jastrzebska Spolka Weglowa SA *		13,901		126
KGHM Polska Miedz SA		5,006		123
LPP SA		105		296
Polski Koncern Naftowy ORLEN SA *		6,913		98
Powszechna Kasa Oszczednosci Bank Polski SA		92,236		696
Powszechny Zaklad Ubezpieczen SA *		42,522		386
Toya SA		73,963		101
VRG SA		95,776		76
Wirtualna Polska Holding SA *		3,900		107
				3,747

Portugal — 0.1%
Jeronimo Martins SGPS SA		5,934		143
REN - Redes Energeticas Nacionais SGPS SA		28,700		76
				219

Romania — 0.4%
Banca Transilvania SA		31,992		130
BRD-Groupe Societe Generale SA *		77,937		203
Fondul Proprietatea SA		254,910		111
OMV Petrom SA		3,657,243		390
Sphera Franchise Group SA		35,121		138
				972

Russia — 0.0%
Detsky Mir PJSC		101,061		–
Evraz PLC		21,791		22
Gazprom Neft PJSC		7,643		–
Gazprom PJSC (A)		125,045		–
Globaltrans Investment PLC GDR *(A)		27,819		–
HeadHunter Group PLC ADR *(A)		161		–
Inter RAO UES PJSC		2,649,312		–
Magnit PJSC		2,567		–


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Magnitogorsk Iron & Steel Works PJSC		26,960	$	–
MD Medical Group Investments PLC GDR		29,105		–
MMC Norilsk Nickel PJSC (A)		354		–
PhosAgro PJSC GDR *		12,000		–
Rosneft Oil Co PJSC (A)		35,283		–
Sberbank of Russia PJSC		105,050		–
X5 Retail Group NV GDR *		10,491		–
				22

Saudi Arabia — 0.2%
Abdullah Al Othaim Markets Co		399		14
Aldrees Petroleum and Transport Services Co		2,251		64
Saudi Electricity Co		13,999		81
Saudi National Bank/The		32,000		315
				474

Singapore — 0.2%
Best World International Ltd *		24,994		34
DBS Group Holdings Ltd		3,500		78
Jardine Cycle & Carriage Ltd		5,900		141
Keppel Corp Ltd		1,800		8
Sheng Siong Group Ltd		9,641		12
STMicroelectronics NV		474		20
United Overseas Bank Ltd		5,900		122
				415

Slovenia — 0.2%
Nova Ljubljanska Banka dd GDR		23,774		378

South Africa — 0.4%
Anglo American PLC		19,415		535
Barloworld Ltd		12,062		51
DataTec Ltd		841		1
Hyprop Investments Ltd ^‡		12,364		19
MTN Group Ltd		1,659		10
Old Mutual Ltd		325,070		175
Sappi Ltd		52,567		116
				907

South Korea — 1.5%
Daewon Pharmaceutical Co Ltd		3,649		40
DIO Corp *		2,321		48
Dongkuk Steel Mill Co Ltd		5,835		50
Doosan Bobcat Inc		5,926		239
Doosan Co Ltd		362		26
Hancom Inc *		2,354		26
Hanwha Corp		4,472		103
HD Hyundai Co Ltd		785		34
HD Hyundai Infracore Co Ltd		3,562		26
Humedix Co Ltd		1,400		33
HYBE Co Ltd *		1,235		255
Hyosung Heavy Industries Corp *		814		49
Hyundai Mobis Co Ltd		661		111
Hyundai Motor Co		2,210		333


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
InBody Co Ltd		2,423	$	49
Industrial Bank of Korea		14,800		114
JYP Entertainment Corp		3,538		325
Kia Corp		4,818		312
Korea Real Estate Investment & Trust Co Ltd		53,058		55
KT Corp		3,800		90
KT&G Corp		1,300		82
Kyeryong Construction Industrial Co Ltd		95		1
Orion Corp/Republic of Korea		624		61
Partron Co Ltd		4,462		31
PharmaResearch Co Ltd		66		6
POSCO Future M Co Ltd		792		209
Samsung Electronics Co Ltd		9,379		505
Seoyon Co Ltd		8,437		57
SK D&D Co Ltd		974		15
SK Telecom Co Ltd		2,200		82
Solid Inc		6,411		27
Tovis Co Ltd		4,114		36
				3,430

Spain — 0.5%
AmRest Holdings SE *		20,616		107
Banco Santander SA		286,430		930
Bankinter SA		4,156		24
Endesa SA		3,600		78
Viscofan SA		573		38
				1,177

Sweden — 0.4%
AddTech AB, Cl B		6,831		140
Autoliv Inc		8,228		656
Axfood AB		942		20
Essity AB, Cl B		872		23
Evolution AB		83		11
Hexatronic Group AB		2,938		18
Munters Group AB		3,397		41
Saab AB, Cl B		1,346		73
				982

Switzerland — 0.5%
Accelleron Industries AG		1,968		47
Cie Financiere Richemont SA, Cl A		5,097		806
Kuehne + Nagel International AG		98		28
Lonza Group AG		42		26
Novartis AG		2,100		200
Partners Group Holding AG		51		46
Wizz Air Holdings Plc *		2,680		92
				1,245

Taiwan — 1.7%
Advantech Co Ltd *		9,000		119
AUO Corp *		498,000		285
Chicony Electronics Co Ltd		39,000		135
Chunghwa Telecom Co Ltd		26,600		109


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Evergreen Marine Corp Taiwan Ltd		5,800	$	29
Gemtek Technology Corp		68,000		69
Global Unichip Corp		1,502		73
Hon Hai Precision Industry Co Ltd *		38,000		132
Innolux Corp, Cl A		642,000		290
Namchow Holdings Co Ltd		15,000		25
Novatek Microelectronics Corp *		36,297		503
Pacific Hospital Supply Co Ltd *		3,000		9
Pou Chen Corp *		79,000		81
Powertech Technology Inc *		8,000		26
Quanta Computer Inc		102,108		387
Taiwan Cooperative Financial Holding Co Ltd *		122,542		111
Taiwan Semiconductor Manufacturing Co Ltd		48,999		890
Teco Electric and Machinery Co Ltd		78,000		130
Universal Vision Biotechnology Co Ltd *		12,300		158
Wistron Corp *		97,184		211
Wiwynn Corp *		4,000		151
				3,923

Thailand — 0.4%
AP Thailand PCL		284,100		95
Bangkok Bank PCL		26,500		124
Bangkok Dusit Medical Services PCL		146,922		119
Bumrungrad Hospital PCL		7,169		46
Central Retail Corp PCL		186,500		225
Kiatnakin Phatra Bank PCL		46,300		84
S Hotels & Resorts PCL *		397,056		42
Sri Trang Gloves Thailand PCL		221,346		58
Taokaenoi Food & Marketing PCL, Cl F		137,971		45
Thonburi Healthcare Group PCL		8,700		17
Thoresen Thai Agencies PCL		122,400		25
				880

Turkey — 0.4%
Anadolu Efes Biracilik Ve Malt Sanayii AS		29,495		83
Aselsan Elektronik Sanayi Ve Ticaret AS		18,419		42
BIM Birlesik Magazalar AS		7,321		50
Haci Omer Sabanci Holding AS		30,204		56
KOC Holding AS		38,594		147
Koza Altin Isletmeleri AS		24,528		27
Mavi Giyim Sanayi Ve Ticaret AS, Cl B		59,408		155
Sok Marketler Ticaret AS *		69,998		92
Turk Hava Yollari AO *		11,710		81
Turkcell Iletisim Hizmetleri AS		18,483		30
Turkiye Is Bankasi AS, Cl C		101,413		55
Turkiye Sise ve Cam Fabrikalari AS		24,450		48
Yapi ve Kredi Bankasi AS		76,669		38
				904

United Arab Emirates — 0.1%
Emirates NBD Bank PJSC		52,142		194


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
United Kingdom — 2.6%
3i Group PLC		1,946	$	47
Admiral Group PLC		476		14
Aviva PLC		2,658		13
BAE Systems PLC		8,741		100
Beazley PLC		15,320		115
BP PLC		143,206		805
British American Tobacco PLC		2,200		70
CNH Industrial NV		20,700		266
Croda International PLC		123		9
Imperial Brands PLC		4,787		101
Indivior PLC *		2,003		36
Informa PLC		71,946		621
Intermediate Capital Group PLC		3,165		55
Legal & General Group PLC		5,596		16
Lloyds Banking Group PLC		1,287,800		705
M&G PLC		4,020		10
NatWest Group PLC		2,652		8
Pearson PLC		95,165		941
Pepco Group NV *		20,895		196
Sage Group PLC/The		3,393		37
Serco Group PLC		21,515		38
Smiths Group PLC		449		9
SSE PLC		852		20
TechnipFMC PLC *		5,547		73
Tesco PLC		31,538		102
Travis Perkins PLC		38,984		422
Whitbread PLC		11,314		461
WPP PLC		70,020		741
				6,031

United States — 52.9%
AAON Inc		1,055		91
Accenture PLC, Cl A		231		71
Adobe Inc *		3,184		1,330
Advance Auto Parts Inc		6,850		499
Affiliated Managers Group Inc		999		139
Aflac Inc		4,699		302
Agilent Technologies Inc		2,471		286
Air Products and Chemicals Inc		62		17
Alkermes PLC *		672		19
Alliant Energy Corp		173		9
Allison Transmission Holdings Inc		2,500		118
Allstate Corp/The		9,700		1,052
Ally Financial Inc		42,410		1,131
Alpha Metallurgical Resources Inc		3,300		445
Alphabet Inc, Cl A *		30,062		3,694
Altria Group Inc		1,500		67
Amdocs Ltd		2,500		235
Ameren Corp		136		11
American Financial Group Inc/OH		500		56
American International Group Inc		11,100		586
Ameriprise Financial Inc		26		8


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
AmerisourceBergen Corp		7,464	$	1,270
Amgen Inc		800		177
Amkor Technology Inc		2,427		60
Amphenol Corp, Cl A		4,930		372
Analog Devices Inc		9,605		1,707
Aon PLC, Cl A		35		11
Apple Inc		11,063		1,961
Applied Materials Inc		154		21
Arch Capital Group Ltd *		561		39
Archer-Daniels-Midland Co		2,600		184
Arista Networks Inc *		2,070		344
Arrow Electronics Inc *		4,660		590
Arthur J Gallagher & Co		258		52
AT&T Inc		75,000		1,180
Atkore Inc *		1,098		128
Atmos Energy Corp		243		28
Automatic Data Processing Inc		728		152
AutoZone Inc *		1,512		3,609
Avnet Inc		13,440		589
Axcelis Technologies Inc *		660		104
Axon Enterprise Inc *		1,625		313
Badger Meter Inc		733		101
Becton Dickinson & Co		5,898		1,426
Belden Inc		1,179		103
Berkshire Hathaway Inc, Cl B *		405		130
Berry Global Group Inc		1,400		80
BGC Partners Inc, Cl A		7,737		31
BILL Holdings Inc *		143		15
Biogen Inc *		94		28
BJ's Wholesale Club Holdings Inc *		2,224		139
Bristol-Myers Squibb Co		5,200		335
Broadcom Inc		375		303
Broadridge Financial Solutions Inc		208		31
Builders FirstSource Inc *		2,940		341
Cadence Design Systems Inc *		2,334		539
Campbell Soup Co		218		11
Cardinal Health Inc		502		41
Carrier Global Corp		31,117		1,273
Catalyst Pharmaceuticals Inc *		3,062		35
Caterpillar Inc		53		11
Cboe Global Markets Inc		111		15
CenterPoint Energy Inc		911		26
Ceridian HCM Holding Inc *		3,811		236
Chevron Corp		7,900		1,190
Chord Energy Corp		188		27
Chubb Ltd		81		15
Cigna Group/The		180		45
Cincinnati Financial Corp		386		37
Cintas Corp		507		239
Cisco Systems Inc		6,241		310
Citigroup Inc		18,500		820
Cleveland-Cliffs Inc *		41,630		578


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Clorox Co/The		295	$	47
CME Group Inc, Cl A		8,796		1,572
Cognizant Technology Solutions Corp, Cl A		1,200		75
Colgate-Palmolive Co		10,248		762
Comcast Corp, Cl A		5,600		220
Conagra Brands Inc		4,300		150
Consolidated Edison Inc		169		16
Crocs Inc *		669		75
CSG Systems International Inc		2,200		106
Cummins Inc		699		143
CVS Health Corp		18,700		1,272
Dana Inc		27,080		349
Delek US Holdings Inc		11,360		250
Dell Technologies Inc, Cl C		2,600		117
Designer Brands Inc, Cl A		37,410		235
Dick's Sporting Goods Inc		1,350		172
Dillard's Inc, Cl A		158		43
Dollar Tree Inc *		8,000		1,079
Dow Inc		21,700		1,059
DR Horton Inc		800		85
DXC Technology Co *		23,200		581
eBay Inc		1,400		60
Edison International		1,329		90
Elevance Health Inc		161		72
elf Beauty Inc *		1,209		126
Eli Lilly & Co		73		31
Employers Holdings Inc		1,400		51
Enova International Inc *		599		28
Enphase Energy Inc *		3		1
Entergy Corp		970		95
Equitable Holdings Inc		47,900		1,175
Everest Re Group Ltd		287		98
Evergy Inc		1,737		100
Exelon Corp		598		24
ExlService Holdings Inc *		887		134
Extreme Networks Inc *		3,164		65
Exxon Mobil Corp		2,400		245
FactSet Research Systems Inc		3,253		1,252
FedEx Corp		3,800		828
Fidelity National Information Services Inc		15,900		868
Flex Ltd *		10,254		260
Foot Locker Inc		9,980		253
Ford Motor Co		5,900		71
Fortinet Inc *		1,170		80
Fortive Corp		166		11
Fox Corp		2,500		78
Gartner Inc *		410		141
General Electric Co		2,330		237
General Mills Inc		3,523		296
General Motors Co		12,070		391
Genuine Parts Co		2,297		342
G-III Apparel Group Ltd *		21,940		353


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Gilead Sciences Inc		12,943	$	996
Goldman Sachs Group Inc/The		92		30
Goodyear Tire & Rubber Co/The *		33,960		466
Graco Inc		19,512		1,492
GSK PLC		60,579		1,011
Halliburton Co		1,401		40
Hartford Financial Services Group Inc/The		2,900		199
Hershey Co/The		2,432		632
Hewlett Packard Enterprise Co		2,406		35
HF Sinclair Corp		12,850		533
Hims & Hers Health Inc *		3,512		31
Hologic Inc *		234		18
Houlihan Lokey Inc, Cl A		379		33
Hubbell Inc, Cl B		1,366		386
HubSpot Inc *		1,026		531
Humana Inc		274		138
Impinj Inc *		267		27
Intel Corp		41,800		1,314
Inter Parfums Inc		414		52
International Business Machines Corp		10,500		1,350
Interpublic Group of Cos Inc/The		7,461		277
Intuit Inc		78		33
Invesco Ltd		981		14
Iron Mountain Inc ^‡		1,515		81
J M Smucker Co/The		661		97
Jabil Inc		3,161		283
Jazz Pharmaceuticals PLC *		600		77
JELD-WEN Holding Inc *		49,180		644
Johnson & Johnson		16,055		2,489
Juniper Networks Inc		335		10
Kellogg Co		2,967		198
Kinsale Capital Group Inc		244		74
KLA Corp		94		42
Kraft Heinz Co/The		3,700		141
Kroger Co/The		12,012		544
Lamb Weston Holdings Inc		2,258		251
Lantheus Holdings Inc *		1,286		111
Las Vegas Sands Corp *		16,200		893
Liberty Energy Inc, Cl A		37,540		441
Linde PLC		6,288		2,224
Livent Corp *		3,204		74
Lockheed Martin Corp		400		178
Loews Corp		177		10
Lowe's Cos Inc		10,583		2,129
M/I Homes Inc *		9,250		654
Macy's Inc		18,950		258
Manhattan Associates Inc *		1,586		288
Marathon Petroleum Corp		2,426		255
MarketAxess Holdings Inc		70		19
Marsh & McLennan Cos Inc		487		84
Mastercard Inc, Cl A		7,265		2,652
McKesson Corp		2,165		846


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Medpace Holdings Inc *		639	$	132
Merck & Co Inc		13,700		1,513
Meritage Homes Corp		920		106
Meta Platforms Inc, Cl A *		165		44
Mettler-Toledo International Inc *		995		1,315
Microsoft Corp		18,503		6,076
Middleby Corp/The *		9,743		1,286
Molina Healthcare Inc *		29		8
Mondelez International Inc, Cl A		5,068		372
Moody's Corp		10,031		3,179
Morgan Stanley		859		70
MSC Industrial Direct Co Inc, Cl A		700		63
MSCI Inc, Cl A		4,004		1,884
Murphy Oil Corp		14,700		512
Murphy USA Inc		593		164
MYR Group Inc *		283		36
National Fuel Gas Co		22,500		1,145
NIKE Inc, Cl B		11,678		1,229
NiSource Inc		1,736		47
Nucor Corp		430		57
nVent Electric PLC		2,189		95
NVIDIA Corp		402		152
Oaktree Specialty Lending Corp		6,000		112
ON Semiconductor Corp *		770		64
ONEOK Inc		165		9
Oracle Corp		22,067		2,338
O'Reilly Automotive Inc *		1,050		948
Organon & Co		690		13
Oshkosh Corp		6,369		470
OSI Systems Inc *		1,200		143
Otis Worldwide Corp		18,287		1,454
Otter Tail Corp		1,700		126
Packaging Corp of America		400		50
Palo Alto Networks Inc *		982		210
Par Pacific Holdings Inc *		7,530		161
Parker-Hannifin Corp		1,291		414
Paychex Inc		2,972		312
Paylocity Holding Corp *		1,021		176
PBF Energy Inc, Cl A		18,380		677
Penumbra Inc *		840		258
PepsiCo Inc		11,789		2,150
Performance Food Group Co *		4,000		221
Perrigo Co PLC		11,100		355
Pfizer Inc		4,900		186
Philip Morris International Inc		13,300		1,197
Phreesia Inc *		1,262		38
Prestige Consumer Healthcare Inc *		790		45
ProPetro Holding Corp *		56,050		374
Public Service Enterprise Group Inc		375		22
PulteGroup Inc		1,916		127
PVH Corp		6,600		568
Qualys Inc *		486		61


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Quest Diagnostics Inc		1,344	$	178
Rambus Inc *		2,846		182
Regency Centers Corp ^‡		236		13
Regeneron Pharmaceuticals Inc *		26		19
Reliance Steel & Aluminum Co		1,542		362
ResMed Inc		45		9
Rollins Inc		375		15
Sanmina Corp *		1,641		87
Sanofi		10,288		1,041
Schlumberger NV		6,722		288
Sealed Air Corp		1,500		57
Sherwin-Williams Co/The		6,663		1,518
Signify NV		18,590		472
Silgan Holdings Inc		2,200		99
Skechers USA Inc, Cl A *		2,777		143
Snap-on Inc		181		45
SolarEdge Technologies Inc *		40		11
Sonoco Products Co		1,500		90
Sportsman's Warehouse Holdings Inc *		33,800		153
Stellantis NV		28,396		434
Super Micro Computer Inc *		796		178
Swiss Re AG		237		24
Synchrony Financial		295		9
Synopsys Inc *		42		19
Tapestry Inc		14,500		580
Targa Resources Corp		205		14
TG Therapeutics Inc *		2,527		67
TJX Cos Inc/The		24,063		1,848
T-Mobile US Inc *		72		10
Towne Bank/Portsmouth VA		2,150		50
TransMedics Group Inc *		602		44
Transocean Ltd *		13,312		76
Tri Pointe Homes Inc *		2,555		75
Trinseo PLC		26,780		333
Tyson Foods Inc, Cl A		19,400		982
UGI Corp		2,400		67
Ulta Beauty Inc *		346		142
United Natural Foods Inc *		15,520		415
United States Steel Corp		20,860		436
United Therapeutics Corp *		5,650		1,185
UnitedHealth Group Inc		6,309		3,074
Unum Group *		3,312		144
Verizon Communications Inc		6,300		224
Victoria's Secret & Co *		10,650		217
Walmart Inc		970		142
Warner Bros Discovery Inc *		41,600		469
Wells Fargo & Co		26,300		1,047
Western Union Co/The		10,300		117
Whirlpool Corp		800		103
WillScot Mobile Mini Holdings Corp, Cl A *		3,653		157
WW Grainger Inc		46		30


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Zscaler Inc *		342	$	46
				123,821

Total Common Stock
(Cost $194,116) ($ Thousands)				218,487



PREFERRED STOCK — 0.3%
Brazil — 0.1%
Metalurgica Gerdau SA (B)		123,300		269
Petroleo Brasileiro SA (B)		3,900		20
				289

Germany — 0.2%
Bayerische Motoren Werke AG, 6.320%		224		23
Henkel AG & Co KGaA (B)		125		10
Volkswagen AG (B)		2,104		261
				294

Russia — 0.0%
Sberbank of Russia PJSC (B)		147,000		–

South Korea — 0.0%
Samsung Electronics Co Ltd (B)		263		12

Total Preferred Stock
(Cost $1,233) ($ Thousands)				595


		Number of Warrants
WARRANTS — 0.0%
Thailand — 0.0%
Kiatnakin Phatra Bank PCL, Expires 01/02/2025		3,858		–
Kiatnakin Phatra Bank PCL, Expires 01/03/2027		3,858		–

				–

Total Warrants
(Cost $—) ($ Thousands)				–


	Shares
CASH EQUIVALENT — 1.1%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		2,663,997		2,664

Total Cash Equivalent
(Cost $2,664) ($ Thousands)				2,664

A list of the exchange traded option contracts held by the Fund at May 31, 2023 is as follows:

A list of the open futures contracts held by the Fund at May 31, 2023 is as follows:

A list of the open forward foreign currency contracts held by the Fund at May 31, 2023 is as follows:

	Percentages are based on Net Assets of $234,113 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^‡	Real Estate Investment Trust.
^†	Investment in Affiliated Security (see Note 6).
(A)	Level 3 security in accordance with fair value hierarchy.
(B)	No interest rate available.

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)⁽¹⁾

Total
($)

Common Stock

218,487

–

218,487

Preferred Stock

595

–

595

Warrants

–

⁽²⁾

–

⁽²⁾

Purchased Option

–

Cash Equivalent

2,664

–

2,664

Total Investments in Securities

221,746

–

221,763

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		1,034			–			–		1,034
Unrealized Depreciation		(1,033	)		–			–		(1,033	)
Forward Contracts*
Unrealized Appreciation		–			568			–		568
Unrealized Depreciation		–			(590	)		–		(590	)
Total Other Financial Instruments		1			(22	)		–		(21	)

(2) This category includes securities with a value of $—.

*	Futures contracts and forward contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 95.2%
Argentina — 0.2%
Corp America Airports SA *		176,415	$	1,775
YPF SA ADR *		30,330		333
				2,108

Australia — 0.3%
AngloGold Ashanti Ltd ADR		67,805		1,641
SolGold PLC *		6,774,749		1,410
				3,051

Austria — 0.1%
ANDRITZ AG		15,248		815

Bangladesh — 0.2%
BRAC Bank Ltd		5,064,607		1,691

Brazil — 4.6%
Ambev SA		408,800		1,148
Arcos Dorados Holdings Inc, Cl A		176,810		1,494
Banco do Brasil SA		611,254		5,348
Banco Santander Brasil SA		321,700		1,808
BrasilAgro - Co Brasileira de Propriedades Agricolas		14,400		64
Cia de Saneamento de Minas Gerais Copasa MG		51,800		202
CPFL Energia SA		373,400		2,215
Cyrela Brazil Realty SA Empreendimentos e Participacoes		177,000		651
Dexco SA		589,600		1,013
Gerdau SA ADR		396,419		1,871
Hapvida Participacoes e Investimentos S/A *		1,097,736		853
Itau Unibanco Holding SA ADR		1,239,422		6,371
Locaweb Servicos de Internet SA		1,139,600		1,686


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Lojas Renner SA		584,600	$	2,229
Minerva SA/Brazil		162,400		325
NU Holdings Ltd/Cayman Islands, Cl A *		375,797		2,533
Oncoclinicas do Brasil Servicos Medicos SA *		363,400		774
Pet Center Comercio e Participacoes SA		531,200		751
Petroleo Brasileiro SA ADR, Cl A		412,899		4,244
Petroreconcavo S/A		77,900		262
Porto Seguro SA		195,900		916
PRIO SA/Brazil *		23,100		154
Santos Brasil Participacoes SA		638,700		1,246
Sendas Distribuidora S/A		1,289,700		2,727
Sigma Lithium Corp *		6,872		258
SLC Agricola SA		39,648		267
TIM SA/Brazil		419,800		1,138
Vale SA		148,900		1,878
				44,426

Burkina Faso — 0.3%
Endeavour Mining PLC		89,519		2,388

Canada — 0.7%
Capstone Mining Corp *		224,082		884
Ivanhoe Mines Ltd, Cl A *		468,587		3,427
Pan American Silver Corp		60,426		920
Parex Resources Inc		49,661		998
				6,229

Chile — 0.9%
Banco Santander Chile ADR		144,151		2,504
Cia Cervecerias Unidas SA ADR		46,789		697
Enel Chile SA		41,897,183		2,290
Parque Arauco SA		2,441,221		3,418
				8,909

China — 18.5%
37 Interactive Entertainment Network Technology Group Co Ltd, Cl A		806,700		3,706
Agricultural Bank of China Ltd, Cl H		12,464,000		4,697
Airtac International Group *		104,019		3,358
Alibaba Group Holding Ltd *		1,182,600		11,768
Alibaba Group Holding Ltd ADR *		30,550		2,430
Angel Yeast Co Ltd, Cl A		173,200		887
Autohome Inc ADR		16,219		464
Baidu Inc ADR *		4,201		516
Bank of China Ltd, Cl H		8,199,500		3,216
Bank of Communications Co Ltd, Cl H		2,419,100		1,561
Beijing Enterprises Holdings Ltd		585,500		2,263
Bosideng International Holdings Ltd		2,990,000		1,241
BYD Co Ltd, Cl H		22,000		664
China CITIC Bank Corp Ltd, Cl H		724,000		381
China Coal Energy Co Ltd, Cl H		734,000		555
China Construction Bank Corp, Cl H		10,390,000		6,650
China Everbright Bank Co Ltd, Cl H		3,455,400		1,064


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
China Feihe Ltd		1,744,000	$	1,014
China Galaxy Securities Co Ltd, Cl H *		894,000		482
China International Capital Corp Ltd, Cl H *		1,198,000		2,191
China Lesso Group Holdings Ltd		2,651,000		1,751
China Medical System Holdings Ltd		1,681,000		2,362
China Mengniu Dairy Co Ltd		532,000		2,066
China National Building Material Co Ltd, Cl H		508,000		287
China Overseas Grand Oceans Group Ltd		2,436,000		1,092
China Overseas Property Holdings Ltd		1,595,000		1,463
China Petroleum & Chemical Corp, Cl H		2,892,000		1,821
China Railway Group Ltd, Cl H *		1,816,000		1,197
China Resources Land Ltd		2,032,000		7,605
China Resources Pharmaceutical Group Ltd		361,000		346
China Tourism Group Duty Free Corp Ltd, Cl A *		41,900		726
Chongqing Brewery Co Ltd, Cl A *		137,100		1,722
Chongqing Rural Commercial Bank Co Ltd, Cl H		1,391,000		480
CITIC Ltd		965,000		1,114
CMOC Group Ltd, Cl A *		1,125,000		830
Contemporary Amperex Technology Co Ltd, Cl A		7,056		220
COSCO SHIPPING Holdings Co Ltd, Cl H		702,550		619
Daqin Railway Co Ltd, Cl A *		251,245		270
Daqo New Energy Corp ADR *		22,811		820
Dongfeng Motor Group Co Ltd, Cl H		2,910,000		1,260
Eastroc Beverage Group Co Ltd, Cl A *		57,700		1,288
FinVolution Group ADR		51,391		198
Focus Media Information Technology Co Ltd, Cl A *		1,684,900		1,523
Greentown China Holdings Ltd		83,000		78
Guanghui Energy Co Ltd, Cl A *		711,795		727
Guangzhou Automobile Group Co Ltd, Cl H		3,094,000		1,775
Haidilao International Holding Ltd		343,000		722
Haier Smart Home Co Ltd, Cl H *		1,568,800		4,499
Hangzhou Binjiang Real Estate Group Co Ltd, Cl A *		149,100		177
Health & Happiness H&H International Holdings Ltd		266,000		361
Hello Group Inc ADR		38,271		309
Hengdian Group DMEGC Magnetics Co Ltd, Cl A		191,400		488
Hubei Jumpcan Pharmaceutical Co Ltd, Cl A *		86,200		385
Industrial & Commercial Bank of China Ltd, Cl H		6,329,000		3,388
iQIYI Inc ADR *		91,600		372
Jiangxi Copper Co Ltd, Cl A *		531,400		1,384
JinkoSolar Holding Co Ltd ADR *		14,100		591
Jiumaojiu International Holdings Ltd		958,000		1,640
Kanzhun Ltd ADR *		55,552		771
Kingsoft Corp Ltd		248,200		902


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kunlun Energy Co Ltd		4,164,000	$	3,319
Kweichow Moutai Co Ltd, Cl A *		7,275		1,668
Lenovo Group Ltd		2,674,000		2,514
Li Ning Co Ltd		466,000		2,500
Lufax Holding Ltd ADR		494,481		633
Metallurgical Corp of China Ltd, Cl A *		584,000		331
NetEase Inc		351,070		5,947
PDD Holdings Inc ADR *		20,630		1,348
PetroChina Co Ltd, Cl H		2,852,000		1,843
PICC Property & Casualty Co Ltd		4,948,000		5,897
Ping An Insurance Group Co of China Ltd, Cl A		439,900		2,910
Ping An Insurance Group Co of China Ltd, Cl H		772,900		4,907
Pop Mart International Group Ltd		450,600		990
Power Construction Corp of China Ltd, Cl A *		435,026		406
Proya Cosmetics Co Ltd, Cl A		83,048		1,404
Qifu Technology Inc ADR		37,502		516
Qingdao Haier Biomedical Co Ltd, Cl A		99,162		832
Shandong Weigao Group Medical Polymer Co Ltd, Cl H		990,400		1,465
Shanghai Pharmaceuticals Holding Co Ltd, Cl H *		173,100		345
Shangri-La Asia Ltd *		1,780,000		1,332
Shanxi Xinghuacun Fen Wine Factory Co Ltd, Cl A *		44,400		1,311
Shenzhen H&T Intelligent Control Co Ltd, Cl A		564,300		1,269
Shenzhou International Group Holdings Ltd		233,800		1,894
Sichuan Road and Bridge Group Co Ltd, Cl A *		227,500		487
Sinopharm Group Co Ltd, Cl H		138,400		453
Sinotruk Hong Kong Ltd		834,500		1,181
Tencent Holdings Ltd		113,353		4,497
Tencent Music Entertainment Group ADR *		150,184		1,042
Tongcheng Travel Holdings Ltd *		683,600		1,364
Topsports International Holdings Ltd		1,721,000		1,337
Uni-President China Holdings Ltd		943,000		819
Vipshop Holdings Ltd ADR *		394,074		5,643
Weichai Power Co Ltd, Cl H *		759,000		1,032
Wuliangye Yibin Co Ltd, Cl A *		14,479		328
WuXi AppTec Co Ltd, Cl H		239,044		1,970
Xiamen Faratronic Co Ltd, Cl A *		89,100		1,681
Xinyi Solar Holdings Ltd		2,137,000		2,110
Xtep International Holdings Ltd		930,000		935
Yadea Group Holdings Ltd		1,364,000		2,718
Yum China Holdings Inc		12,600		711
Zhejiang Expressway Co Ltd, Cl H		1,066,000		790
Zhejiang Jingsheng Mechanical & Electrical Co Ltd, Cl A		46,800		454
Zhongsheng Group Holdings Ltd		569,000		2,101


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ZTO Express Cayman Inc ADR		91,196	$	2,302
				178,273

Colombia — 0.1%
Gran Tierra Energy Inc *		154,328		798

Czechia — 0.2%
WAG Payment Solutions PLC *		1,509,678		1,766

Egypt — 0.8%
Commercial International Bank Egypt SAE GDR		2,175,279		2,415
Energean PLC		394,133		5,422
				7,837

Georgia — 0.3%
TBC Bank Group PLC		116,463		3,320

Germany — 0.2%
AIXTRON SE		24,271		751
Krones AG		8,554		953
SUESS MicroTec SE		24,178		638
				2,342

Ghana — 0.1%
Tullow Oil PLC *		2,661,939		819

Greece — 1.7%
Alpha Services and Holdings SA *		931,238		1,376
Eurobank Ergasias Services and Holdings SA *		1,896,655		2,952
JUMBO SA		103,366		2,391
Mytilineos SA		54,424		1,711
National Bank of Greece SA *		487,659		3,015
OPAP SA		120,760		2,057
Piraeus Financial Holdings SA *		794,035		2,336
				15,838

Hong Kong — 1.2%
AIA Group Ltd		437,440		4,197
Chow Sang Sang Holdings International Ltd		445,000		521
Hong Kong Exchanges & Clearing Ltd		42,042		1,539
Luk Fook Holdings International Ltd		281,000		768
Melco International Development Ltd *		1,600,000		1,474
Orient Overseas International Ltd		17,000		207
Sa Sa International Holdings Ltd *		3,494,000		598
Skyworth Group Ltd		464,000		232
Techtronic Industries Co Ltd		119,000		1,104
Vinda International Holdings Ltd		232,000		558
				11,198

Hungary — 1.1%
MOL Hungarian Oil & Gas PLC		457,439		3,709
OTP Bank Nyrt		114,017		3,539
Richter Gedeon Nyrt		149,952		3,762
				11,010


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Iceland — 0.4%
Islandsbanki HF		4,320,225	$	3,600

India — 10.4%
Aster DM Healthcare Ltd *		492,722		1,604
Axis Bank Ltd		56,014		619
Bank of Baroda		468,724		1,048
Bharat Electronics Ltd *		1,381,714		1,873
Brigade Enterprises Ltd *		54,147		368
Britannia Industries Ltd		9,575		539
Coal India Ltd *		223,136		651
Container Corp Of India Ltd *		85,642		695
CreditAccess Grameen Ltd *		130,791		1,951
Divi's Laboratories Ltd *		66,252		2,758
Dr Reddy's Laboratories Ltd		6,570		357
Exide Industries Ltd		327,619		836
Federal Bank Ltd *		1,123,776		1,701
GAIL India Ltd		365,254		463
Genus Power Infrastructures Ltd		1,153,243		1,278
HCL Technologies Ltd		411,077		5,690
Hero MotoCorp Ltd		68,791		2,295
Hindalco Industries Ltd *		69,981		343
Housing Development Finance Corp Ltd		156,751		5,003
ICICI Bank Ltd *		260,223		2,985
ICICI Bank Ltd ADR		274,591		6,294
Indian Oil Corp Ltd *		228,106		248
Info Edge India Ltd		9,106		448
Infosys Ltd		157,895		2,516
Infosys Ltd ADR		5,498		88
ITC Ltd		263,164		1,417
Kotak Mahindra Bank Ltd *		168,866		4,112
KPIT Technologies Ltd *		339,035		4,356
Lemon Tree Hotels Ltd *		1,522,804		1,766
Mahindra & Mahindra Ltd		47,026		750
Mahindra CIE Automotive Ltd		374,032		2,054
Mrs Bectors Food Specialities Ltd *		134,916		1,237
Narayana Hrudayalaya Ltd		290,592		3,138
Nestle India Ltd		386		101
NTPC Ltd *		251,887		529
Oil & Natural Gas Corp Ltd *		2,922,099		5,471
Petronet LNG Ltd *		718,782		1,962
Phoenix Mills Ltd/The *		166,863		2,959
PNC Infratech Ltd *		449,338		1,705
Power Grid Corp of India Ltd *		927,472		2,622
REC Ltd		343,411		588
Shriram Finance Ltd		152,504		2,580
State Bank of India		76,592		537
Sun Pharmaceutical Industries Ltd *		71,314		841
Tata Consultancy Services Ltd *		67,897		2,700
Tata Motors Ltd *		46,443		295
Torrent Pharmaceuticals Ltd		53,374		1,184
UPL Ltd *		385,115		3,189
VA Tech Wabag Ltd *		390,188		2,166


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Varun Beverages Ltd		209,209	$	4,285
Vedanta Ltd		150,073		505
WNS Holdings Ltd ADR *		59,475		4,621
				100,321

Indonesia — 4.4%
Adaro Energy Indonesia Tbk PT		2,255,900		307
Aneka Tambang Tbk		17,831,500		2,254
Astra International Tbk PT		713,100		307
Bank Central Asia Tbk PT		4,372,700		2,640
Bank Mandiri Persero Tbk PT		999,500		337
Bank Rakyat Indonesia Persero Tbk PT		25,671,676		9,548
Bukit Asam Tbk PT		921,700		188
Cisarua Mountain Dairy PT TBK		10,816,900		3,125
First Pacific Co Ltd		7,750,000		2,901
Indo Tambangraya Megah Tbk PT		110,500		163
Indofood Sukses Makmur Tbk PT		4,304,600		2,039
Indosat Tbk PT		3,707,600		2,053
Kalbe Farma Tbk PT		6,533,400		885
Medikaloka Hermina Tbk PT		56,860,100		4,988
Merdeka Copper Gold Tbk PT *		2,405,110		481
Pakuwon Jati Tbk PT		89,667,684		2,799
Perusahaan Gas Negara Tbk PT		2,562,500		244
Trimegah Bangun Persada Tbk PT *		49,356,539		2,667
Ultrajaya Milk Industry & Trading Co Tbk PT		31,400,000		3,299
United Tractors Tbk PT		145,600		216
Vale Indonesia Tbk PT		2,226,400		936
				42,377

Jordan — 0.2%
Hikma Pharmaceuticals PLC		72,586		1,612

Kazakhstan — 1.5%
Halyk Savings Bank of Kazakhstan JSC GDR		560,406		7,196
Kaspi.KZ JSC GDR		25,243		2,019
NAC Kazatomprom JSC GDR		189,669		4,742
				13,957

Kenya — 0.2%
ARM Cement Ltd *		10		–
Equity Group Holdings PLC/Kenya		7,883,363		2,156
				2,156

Malaysia — 0.2%
Gamuda Bhd		985,500		948
Malayan Banking Bhd		502,900		942
				1,890

Mexico — 2.8%
Alfa SAB de CV, Cl A		337,900		206
Arca Continental SAB de CV		226,417		2,280
Coca-Cola Femsa SAB de CV		82,800		684
Coca-Cola Femsa SAB de CV ADR		5,490		455
Controladora Axtel *		337,900		5


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Controladora Vuela Cia de Aviacion SAB de CV ADR *		201,832	$	2,785
Corp Inmobiliaria Vesta SAB de CV		550,900		1,738
Fibra Uno Administracion SA de CV ^‡		206,200		300
Genomma Lab Internacional SAB de CV, Cl B		793,400		665
Grupo Aeroportuario del Pacifico SAB de CV, Cl B		113,987		2,000
Grupo Bimbo SAB de CV, Ser A		79,300		424
Grupo Financiero Banorte SAB de CV, Cl O		911,700		7,297
Grupo Mexico SAB de CV, Ser B		425,200		1,889
Grupo Televisa SAB		425,500		406
Kimberly-Clark de Mexico SAB de CV, Cl A		92,900		189
Orbia Advance Corp SAB de CV		240,479		506
Promotora y Operadora de Infraestructura SAB de CV		105,085		1,019
Qualitas Controladora SAB de CV		157,900		1,063
Vista Energy SAB de CV ADR *		14,100		291
Wal-Mart de Mexico SAB de CV		668,590		2,533
				26,735

Netherlands — 0.5%
AMG Critical Materials NV		50,519		2,270
BE Semiconductor Industries NV		16,885		1,855
Fugro NV *		59,904		859
				4,984

Nigeria — 1.4%
Airtel Africa PLC		1,100,081		1,625
Guaranty Trust Holding Co PLC		15,208,102		939
IHS Holding Ltd *		191,059		1,576
SEPLAT Energy PLC		3,037,908		4,368
Zenith Bank PLC *		76,698,031		4,786
				13,294

Pakistan — 0.3%
United Bank Ltd/Pakistan		6,175,348		2,516

Peru — 0.6%
Credicorp Ltd		24,506		3,172
Hochschild Mining PLC		2,951,159		2,778
				5,950

Philippines — 2.9%
ACEN Corp *		929,277		97
Alliance Global Group Inc		19,991,310		4,720
Ayala Corp		309,759		3,640
Ayala Land Inc		5,943,100		2,783
BDO Unibank Inc		1,564,730		3,789
Bloomberry Resorts Corp *		10,300,300		1,886
GT Capital Holdings Inc		387,410		3,560
Metropolitan Bank & Trust Co		1,868,260		1,916
Robinsons Land Corp		8,086,500		2,002
Universal Robina Corp		1,289,920		3,229
				27,622


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Poland — 1.0%
Allegro.eu SA *		132,266	$	1,105
Bank Polska Kasa Opieki SA		126,113		2,854
Dino Polska SA *		32,904		3,219
Jastrzebska Spolka Weglowa SA *		13,828		125
KGHM Polska Miedz SA		83,676		2,058
Polski Koncern Naftowy ORLEN SA *		48,479		686
				10,047

Qatar — 0.0%
Ooredoo QPSC		78,265		228

Russia — 0.0%
Gazprom PJSC ADR *		503,042		–
LUKOIL PJSC ADR *		107,182		–
Mobile TeleSystems PJSC ADR *		556,416		–
Moscow Exchange MICEX-RTS PJSC *		945,410		–
Ozon Holdings PLC ADR *		30,008		–
Sberbank of Russia PJSC ADR *(A)		93,380		–
Surgutneftegas PJSC ADR *		416,721		–
TCS Group Holding PLC GDR *		22,288		–
Yandex NV, Cl A *		50,933		–
				—

Saudi Arabia — 1.3%
Bank Al-Jazira		127,235		595
Banque Saudi Fransi		112,199		1,191
Bawan Co		21,132		186
Elm Co		3,107		372
Etihad Etisalat Co		174,873		2,005
National Medical Care Co		34,453		1,012
SABIC Agri-Nutrients Co		48,816		1,627
Saudi Aramco Base Oil Co		2,773		99
Saudi Electricity Co		54,535		314
Saudi National Bank/The		347,274		3,416
Saudi Telecom Co		114,579		1,321
United Electronics Co		42,150		815
				12,953

Slovenia — 0.8%
Nova Ljubljanska Banka dd GDR		505,248		8,026

South Africa — 2.0%
African Rainbow Minerals Ltd		15,203		158
Aspen Pharmacare Holdings Ltd		79,289		686
Capitec Bank Holdings Ltd		17,836		1,215
FirstRand Ltd		321,948		979
Gold Fields Ltd		40,804		621
Growthpoint Properties Ltd ^‡		1,079,925		637
Kumba Iron Ore Ltd		22,735		497
Mr Price Group Ltd		243,780		1,526
Naspers Ltd, Cl N		62,212		9,346
Nedbank Group Ltd		155,819		1,637
Old Mutual Ltd		734,906		396
Sanlam Ltd		150,647		395


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sappi Ltd		41,975	$	92
Sibanye Stillwater Ltd		275,176		486
Sibanye Stillwater Ltd ADR		101,329		724
Truworths International Ltd		70,330		169
				19,564

South Korea — 11.6%
BGF retail Co Ltd		9,654		1,385
CJ CheilJedang Corp		10,047		2,347
CJ Corp		12,659		845
Cosmax Inc		10,057		602
Coupang Inc, Cl A *		50,048		781
Coway Co Ltd		50,632		1,837
DB HiTek Co Ltd		3,443		157
DB Insurance Co Ltd		5,695		318
Dentium Co Ltd		10,047		1,201
DL E&C Co Ltd		7,550		206
Doosan Bobcat Inc		5,616		226
E-MART Inc		3,367		214
Eo Technics Co Ltd		25,415		1,771
Eugene Technology Co Ltd		60,419		1,416
GS Holdings Corp		11,447		332
GS Retail Co Ltd		60,275		1,129
Han Kuk Carbon Co Ltd		82,865		706
Hana Financial Group Inc		264,244		8,252
Hankook Tire & Technology Co Ltd		104,783		2,724
Hansol Chemical Co Ltd		9,964		1,738
Hanwha Aerospace Co Ltd		7,381		590
Hanwha Corp		17,571		404
HD Hyundai Electric Co Ltd		6,251		230
HPSP Co Ltd		65,687		1,351
Hyundai Glovis Co Ltd		2,679		341
Hyundai Marine & Fire Insurance Co Ltd		11,856		293
Hyundai Mobis Co Ltd		9,195		1,545
Innox Advanced Materials Co Ltd		57,056		1,726
JYP Entertainment Corp		5,714		525
KB Financial Group Inc		20,236		732
Kia Corp		157,834		10,215
Korea Gas Corp		12,462		246
Korea Investment Holdings Co Ltd		5,786		242
Kumho Petrochemical Co Ltd		15,199		1,453
LG Chem Ltd		5,988		3,127
LG Electronics Inc		64,085		5,929
LG Uplus Corp		516,413		4,373
LS Corp		6,073		376
LX INTERNATIONAL CORP		12,014		273
LX Semicon Co Ltd		4,156		364
NCSoft Corp		3,630		878
Neowiz *		5,697		214
NH Investment & Securities Co Ltd		277,000		2,085
NongShim Co Ltd		186		62
OCI Co Ltd/New *		3,036		331
OCI Holdings Co Ltd		6,701		435


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Park Systems Corp		14,580	$	1,807
Posco International Corp		16,799		381
Ray Co Ltd/KR *		45,861		1,253
Samsung Electronics Co Ltd		576,069		30,990
Samsung Engineering Co Ltd *		12,803		273
Samsung Securities Co Ltd		8,503		235
Seegene Inc		9,802		179
Shinsegae Inc		3,879		578
SK Hynix Inc		37,976		3,107
SKC Co Ltd		6,897		493
Solus Advanced Materials Co Ltd		30,680		910
Sungeel Hitech Co Ltd *		11,352		1,208
T&L Co Ltd		22,343		943
WONIK IPS Co Ltd		52,658		1,279
Woori Financial Group Inc		65,641		592
Youngone Corp		7,949		269
				111,024

Switzerland — 0.1%
Wizz Air Holdings Plc *		32,134		1,106

Taiwan — 13.4%
Alchip Technologies Ltd *		58,000		3,124
Arcadyan Technology Corp		577,000		2,178
Asia Vital Components Co Ltd *		510,686		3,282
ASPEED Technology Inc		24,430		2,290
Bora Pharmaceuticals Co Ltd *		9,000		223
Chailease Holding Co Ltd *		387,203		2,552
Chung-Hsin Electric & Machinery Manufacturing Corp *		72,000		268
CTBC Financial Holding Co Ltd *		6,296,000		4,979
Delta Electronics Inc *		201,000		2,070
E Ink Holdings Inc *		593,000		3,995
Elite Material Co Ltd *		278,000		1,909
Ennoconn Corp *		186,000		1,719
Evergreen Marine Corp Taiwan Ltd		162,800		811
Fitipower Integrated Technology Inc *		81,000		419
Fubon Financial Holding Co Ltd *		1,503,655		2,975
Gigabyte Technology Co Ltd *		145,000		880
Global Unichip Corp		53,000		2,579
Gloria Material Technology Corp		146,000		265
Gold Circuit Electronics Ltd		329,000		1,306
Himax Technologies Inc ADR		24,989		172
Hon Hai Precision Industry Co Ltd *		473,912		1,643
Hu Lane Associate Inc *		236,000		1,125
Ingentec Corp *		247,070		1,512
Innodisk Corp *		53,000		578
International Games System Co Ltd *		21,000		387
Inventec Corp *		123,000		148
Kaori Heat Treatment Co Ltd		246,000		1,973
King Yuan Electronics Co Ltd *		175,000		308
Lite-On Technology Corp		141,862		411
Lotus Pharmaceutical Co Ltd *		50,000		532


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
M31 Technology Corp *		49,000	$	1,360
Macronix International Co Ltd		2,579,000		2,795
Micro-Star International Co Ltd *		745,000		4,025
momo.com Inc		27,000		614
Nan Ya Printed Circuit Board Corp		49,000		483
Nien Made Enterprise Co Ltd *		132,000		1,514
Novatek Microelectronics Corp *		87,000		1,205
Pou Chen Corp *		192,000		198
Quanta Computer Inc		128,000		485
Radiant Opto-Electronics Corp *		68,000		261
Sercomm Corp		94,000		292
Simplo Technology Co Ltd *		14,000		141
Sitronix Technology Corp *		36,000		264
Taiwan Semiconductor Manufacturing Co Ltd		2,418,000		43,910
Taiwan Semiconductor Manufacturing Co Ltd ADR		60,380		5,953
Unimicron Technology Corp *		282,000		1,657
United Microelectronics Corp *		3,320,000		5,597
Universal Vision Biotechnology Co Ltd *		61,000		783
Visual Photonics Epitaxy Co Ltd *		700,000		2,381
Voltronic Power Technology Corp *		47,950		3,027
Wistron Corp *		230,000		499
Wiwynn Corp *		108,000		4,077
Yang Ming Marine Transport Corp *		269,000		532
Zhen Ding Technology Holding Ltd		29,000		109
				128,775

Thailand — 2.2%
AP Thailand PCL		321,700		107
Bangkok Bank PCL		851,100		3,987
Bangkok Dusit Medical Services PCL, Cl F		588,200		478
Central Plaza Hotel PCL *		713,600		1,030
Fabrinet *		24,770		2,805
Home Product Center PCL		10,145,645		4,023
Kasikornbank PCL NVDR		992,500		3,693
Krung Thai Bank PCL		815,500		445
PTT PCL NVDR		3,949,800		3,405
Sri Trang Agro-Industry PCL		2,811,300		1,535
				21,508

Turkey — 0.5%
BIM Birlesik Magazalar AS		240,086		1,635
KOC Holding AS		451,944		1,720
Sok Marketler Ticaret AS *		87,399		115
Turk Hava Yollari AO *		89,203		620
Turkcell Iletisim Hizmetleri AS		498,390		807
				4,897

United Arab Emirates — 1.8%
ADNOC Logistics & Services *		588,314		322
Aldar Properties PJSC		303,216		421
Dubai Islamic Bank PJSC		1,451,508		2,079
Emaar Development PJSC		3,181,756		4,496


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Emaar Properties PJSC		4,449,119	$	7,449
Emirates NBD Bank PJSC		80,557		299
Multiply Group PJSC *		323,241		291
Taaleem Holdings PJSC *		2,038,622		1,549
				16,906

United States — 0.7%
EPAM Systems Inc *		11,179		2,869
Globant SA *		15,910		2,924
JBS SA		168,100		555
				6,348

Vietnam — 1.9%
Ho Chi Minh City Development Joint Stock Commercial Bank		2,455,837		1,924
Hoa Phat Group JSC		2,848,646		2,572
IDICO Corp JSC		26,900		48
Military Commercial Joint Stock Bank *		5,578,897		4,419
SSI Securities Corp		1,402,100		1,382
Vietnam Technological & Commercial Joint Stock Bank *		1,612,520		2,056
Vincom Retail JSC *		2,196,659		2,535
Vinhomes JSC		1,440,200		3,281
				18,217

Zambia — 0.6%
First Quantum Minerals Ltd		296,468		6,203

Total Common Stock
(Cost $897,787) ($ Thousands)				915,634



PREFERRED STOCK — 1.6%
Brazil — 0.3%
Bradespar SA (B)		74,600		311
Cia Energetica de Minas Gerais (B)		914,679		2,081
Marcopolo SA (B)		1,091,900		987
				3,379

Colombia — 0.1%
Banco Davivienda SA (B)		215,784		864

South Korea — 1.2%
Hyundai Motor Co (B)		49,523		3,935
LG Chem Ltd (B)		10,638		2,893
LG Electronics Inc (B)		25,035		1,013
Samsung Electronics Co Ltd (B)		73,651		3,252
				11,093

Total Preferred Stock
(Cost $18,660) ($ Thousands)				15,336

A list of the open futures contracts held by the Fund at May 31, 2023 is as follows:

	Percentages are based on Net Assets of $961,247 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^‡	Real Estate Investment Trust.
^†	Investment in Affiliated Security (see Note 6).
(A)	Level 3 security in accordance with fair value hierarchy.
(B)	No interest rate available.

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)⁽¹⁾

Total
($)

Common Stock

915,634

–

915,634

Preferred Stock

15,336

–

15,336

Cash Equivalent

15,345

–

15,345

Total Investments in Securities

946,315

–

946,315

Other Financial Instruments	Level 1 ($)			Level 2 ($)		Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Depreciation		(434	)		–		–		(434	)
Total Other Financial Instruments		(434	)		–		–		(434	)

^This category includes securities with a value of $—.

*	Futures contracts are valued at the unrealized depreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of Fund's transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†

Percentages based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS — 34.4%
Aerospace & Defense — 0.8%
Bleriot US Bidco Inc., 2021 Term Loan, 1st Lien
9.159%, LIBOR + 3.750%, 10/30/2026 (A)	$	1,707	$	1,700
TransDigm Inc., Tranche H Term Loan, 1st Lien
8.148%, 02/22/2027 (A)		644		641
TransDigm Inc., Tranche I Term Loan, 1st Lien
8.148%, 08/24/2028		318		316
Ultra Electronics Holdings PLC, Dollar Denominated Term Loan, 1st Lien
8.810%, 08/06/2029 (A)		1,393		1,354
				4,011

Air Transport — 0.6%
AAdvantage Loyality IP Ltd. (American Airlines, Inc.), Initial Term Loan, 1st Lien
10.000%, LIBOR + 4.750%, 04/20/2028 (A)		1,464		1,469
Mileage Plus Holdings LLC (Mileage Plus Intellectual Property Assets, Ltd.), Initial Term Loan, 1st Lien
10.213%, LIBOR + 4.750%, 06/21/2027 (A)		769		796


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
SkyMiles IP Ltd. (Delta Air Lines, Inc.), Initial Term Loan, 1st Lien
8.799%, LIBOR + 4.000%, 10/20/2027 (A)	$	1,058	$	1,094
				3,359

Automobile — 0.2%
Wand Newco 3, Inc., Tranche B-1 Term Loan, 1st Lien
5.025%, LIBOR + 3.000%, 02/05/2026 (A)(B)		975		953


Automotive — 0.4%
Belron Finance 2019 LLC, Dollar Second Incremental Loan, 1st Lien
7.563%, LIBOR + 2.500%, 10/30/2026 (A)		237		236
Belron Finance US LLC, First Incremental Term Loan, 1st Lien
7.625%, 11/13/2025		736		735
Clarios Global LP, 2023 Term Loan, 1st Lien
8.903%, 05/06/2030 (A)		900		890
				1,861

Building & Development — 0.8%
Artera Services, LLC, Tranche B Term Loan, 1st Lien
8.659%, LIBOR + 2.750%, 03/06/2025 (A)		768		659
Brookfield WEC Holdings Inc., Initial Term Loan (2021), 1st Lien
7.775%, 08/01/2025 (A)		1,330		1,314
Kodiak BP, LLC, Initial Term Loan, 1st Lien
8.410%, LIBOR + 3.750%, 03/12/2028 (A)		462		445
Pike Corporation, 2028 Initial Term Loan, 1st Lien
8.097%, 01/21/2028		486		480
SRS Distribution Inc., 2021 Refinancing Term Loan, 1st Lien
8.525%, CME Term SOFR + 4.000%, 06/02/2028 (A)		240		228
SRS Distribution Inc., 2022 Refinancing Term Loan, 1st Lien
8.753%, 06/02/2028 (B)		554		525
Tutor Perini Corporation, Term Loan, 1st Lien
9.775%, LIBOR + 3.500%, 08/18/2027 (A)		728		637
				4,288


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Business Equipment & Services — 3.7%
AlixPartners LLP, Initial Dollar Term Loan, 1st Lien
7.768%, 02/04/2028 (B)	$	1,390	$	1,375
BW Holding Inc., Initial Term Loan, 1st Lien
9.041%, LIBOR + 4.000%, 12/14/2028 (A)		66		59
Corporation Service Company, Initial Tranche B USD Term Loan, 1st Lien
8.332%, 11/02/2029		651		649
Electron Bidco Inc., Initial Term Loan, 1st Lien
8.268%, 11/01/2028 (B)		1,359		1,328
Ensemble RCM LLC, Closing Date Term Loan, 1st Lien
8.895%, 08/03/2026		1,324		1,322
Ensono Inc, Initial Term Loan, 1st Lien
9.151%, LIBOR + 5.000%, 05/26/2028 (A)		1,662		1,487
Marlink AS, Dollar Term Loan B, 1st Lien
9.703%, 06/28/2029 (A)		243		228
Medline Borrower LP, Initial Dollar Term Loan, 1st Lien
8.404%, LIBOR + 3.250%, 10/23/2028 (A)		793		767
NASCAR Holdings Inc., Initial Term Loan, 1st Lien
7.597%, LIBOR + 2.750%, 10/19/2026 (A)		750		750
Project Castle Inc., Initial Term Loan, 1st Lien
10.398%, CME Term SOFR + 5.500%, 06/01/2029 (A)		581		507
10.390%, 06/01/2029		19		16
R1 RCM Inc., Initial Term B Loan, 1st Lien
7.982%, 06/21/2029 (A)(B)		1,060		1,056
Sedgwick Claims Management Services Inc., 2023 Term Loan, 1st Lien
8.732%, 02/17/2028		1,360		1,320
Service Logic Acquisition Inc., Closing Date Initial Term Loan, 1st Lien
9.273%, LIBOR + 4.000%, 10/29/2027 (A)		1,006		971
9.154%, LIBOR + 3.250%, 10/29/2027 (A)		3		2
Sharp Midco LLC, Initial Term Loan, 1st Lien
9.159%, LIBOR + 4.000%, 12/31/2028 (A)(C)		772		753
Tempo Acquisition LLC, Initial Term B-1 Loan, 1st Lien
8.153%, 08/31/2028		374		373


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
TGG TS Acquisition Company, Term B Loan, 1st Lien
11.525%, LIBOR + 7.000%, 12/14/2025 (A)	$	1,095	$	1,033
TK Elevator Midco GmbH, Facility B1 (USD), 1st Lien
6.871%, LIBOR + 3.500%, 07/30/2027 (A)		80		77
Trans Union LLC, 2021 Incremental Term B-6 Loan, 1st Lien
7.275%, 12/01/2028 (A)		423		419
United Talent Agency LLC, Term B Loan, 1st Lien
9.250%, 07/07/2028 (A)		894		872
University Support Services LLC, 2021 Term Loan, 1st Lien
8.332%, 02/10/2029		1,550		1,519
Verscend Holding Corp., Term B-1 Loan, 1st Lien
9.154%, 08/27/2025 (A)(B)		904		901
William Morris Endeavor Entertainment, LLC (IMG Worldwide Holdings, LLC), Term B-1 Loan, 1st Lien
7.780%, LIBOR + 3.750%, 05/18/2025 (A)		2,034		2,005
				19,789

Cable & Satellite Television — 0.9%
Creative Artists Agency LLC, Term B Loan, 1st Lien
8.482%, CME Term SOFR + 3.500%, 11/27/2028 (A)(B)		1,200		1,182
Diamond Sports Group LLC, Term Loan, 2nd Lien
10.184%, 08/24/2026 (D)		984		39
E.W. Scripps Company, Tranche B-2 Term Loan, 1st Lien
7.659%, 05/01/2026 (A)		377		361
Univision Communications Inc., 2021 Replacement Converted First-Lien Term Loan, 1st Lien
8.275%, LIBOR + 3.250%, 03/15/2026 (A)		748		721
Univision Communications, 2017 Replacement Repriced Term Loan, 1st Lien
7.904%, LIBOR + 2.750%, 03/15/2024 (A)		752		751
Virgin Media Bristol LLC, N Facility, 1st Lien
7.607%, LIBOR + 2.500%, 01/31/2028 (A)		2,007		1,923
				4,977


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Chemicals & Plastics — 1.0%
Akzo Nobel N.V., Term Loan, 1st Lien
0.000%, 04/03/2028 (B)(G)	$	540	$	530
Cambrex Corporation, Tranche B-2 Dollar Term Loan, 1st Lien
8.582%, LIBOR + 3.250%, 12/04/2026 (A)(B)		332		322
DCG Acquisition Corp., Term Loan B, 1st Lien
9.753%, LIBOR + 4.250%, 09/30/2026 (A)(C)		1,054		1,019
Ineos US Finance LLC, New USD Term Loan B, 1st Lien
8.582%, 02/18/2030		720		713
Nouryon Finance B.V., Initial Dollar Term Loan, 1st Lien
7.895%, CME Term SOFR + 2.750%, 10/01/2025 (A)		997		992
SCIH Salt Holdings Inc., Incremental Term B-1 Loan, 1st Lien
9.025%, LIBOR + 2.750%, 03/16/2027 (A)		1,282		1,245
Wilsonart LLC, Tranche E Term Loan, 1st Lien
8.460%, LIBOR + 3.250%, 12/31/2026 (A)		598		578
				5,399

Conglomerates — 0.5%
Agiliti Health Inc., Term Loan, 1st Lien
7.993%, 05/01/2030		754		744
Curian Global Inc., 2021 Term Loan, 1st Lien
9.003%, 08/30/2026		2		1
8.895%, 08/30/2026		597		502
Sunshine Luxembourg VII Sarl, Facility B3, 1st Lien
8.909%, LIBOR + 3.750%, 10/01/2026 (A)		1,174		1,143
				2,390

Containers & Glass Products — 1.1%
Charter Next Generation Inc., Initial Term Loan (2021), 1st Lien
8.847%, 12/01/2027 (B)		1,375		1,335
Mauser Packaging Solutions Holding Company, Initial Term Loan, 1st Lien
8.993%, 08/14/2026		30		29
Pregis TopCo LLC, Initial Term Loan, 1st Lien
8.847%, LIBOR + 4.000%, 07/31/2026 (A)		1,153		1,128
Pregis TopCo LLC, Third Amendment Refinancing Term Loan, 1st Lien
8.904%, LIBOR + 3.250%, 07/31/2026 (A)		1,075		1,049


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Pretium PKG Holdings Inc., Initial Term Loan, 2nd Lien
11.969%, 10/01/2029	$	843	$	513
11.758%, 10/01/2029		843		512
Trident TPI Holdings Inc., Tranche B-5 Initial Term Loan, 1st Lien
9.653%, 09/15/2028		1,350		1,290
				5,856

Ecological Services & Equipment — 0.5%
Covanta Holding Corporation, Initial Term B Loan, 1st Lien
7.482%, 11/30/2028		282		277
Esdec Solar Group B.V., Initial Term Loan, 1st Lien
9.960%, LIBOR + 6.750%, 08/30/2028 (A)(C)		649		641
GFL Environmental Inc., 2023 Refinancing Term Loan, 1st Lien
8.145%, 05/31/2027 (A)		885		883
Win Waste Innovations Holdings Inc., Initial Term Loan, 1st Lien
3.250%, 03/24/2028 (B)		710		620
				2,421

Electronics/Electrical — 5.1%
Applied Systems Inc., 2026 Term Loan, 1st Lien
9.398%, 09/18/2026		875		873
Apttus Corporation, Initial Term Loan, 1st Lien
9.523%, LIBOR + 4.750%, 05/08/2028 (A)		650		621
athenahealth Group Inc., Initial Term Loan, 1st Lien
8.598%, 02/15/2029 (A)		932		876
Camelot U.S. Acquisition LLC, Initial Term Loan, 1st Lien
8.268%, LIBOR + 3.250%, 10/30/2026 (A)		653		644
Camelot U.S. Acquisition LLC, Term Loan, 1st Lien
7.840%, 10/30/2026 (A)		400		395
Cloud Software Group Inc., Dollar Term B Loan, 1st Lien
9.498%, 03/30/2029 (A)		1,036		957
Cloud Software Group Inc., Term Loan, 1st Lien
9.498%, 09/29/2028 (B)		207		192
Delta Topco, Inc., Initial Term Loan, 2nd Lien
12.156%, CME Term SOFR + 7.250%, 12/01/2028 (A)		989		890


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Epicor Software Corporation (fka Eagle Parent Inc.), Initial Term Loan, 2nd Lien
12.832%, LIBOR + 3.250%, 07/31/2028 (A)	$	300	$	298
Epicor Software Corporation (fka Eagle Parent Inc.), Term C Loan, 1st Lien
8.275%, LIBOR + 5.250%, 07/30/2027 (A)		65		63
Go Daddy Operating Company LLC (GD Finance Co, Inc), Amendment No. 6 Term Loan, 1st Lien
8.232%, 11/09/2029		1,144		1,141
Hyland Software Inc., 2021 Refinancing Term Loan, 2nd Lien
11.275%, LIBOR + 4.750%, 07/07/2025 (A)		1,136		1,078
Hyland Software, Inc., 2018 Refinancing Term Loan, 1st Lien
8.525%, LIBOR + 3.500%, 07/01/2024 (A)		1,183		1,159
Imprivata Inc., 2022-1 Incremental Term Loan, 1st Lien
9.232%, 12/01/2027		576		559
Imprivata Inc., Initial Term Loan, 1st Lien
8.775%, 12/01/2027		405		389
Knot Worldwide Inc., Amendment No. 3 Term Loan, 1st Lien
9.498%, 12/19/2025 (C)		68		67
9.465%, 12/19/2025 (C)		20		20
McAfee Corp., Tranche B-1 Term Loan, 1st Lien
8.843%, CME Term SOFR + 4.000%, 03/01/2029 (A)		794		742
MH Sub I LLC (Micro Holding Corp.), 2023 May Incremental Term Loan, 1st Lien
9.403%, 04/25/2028 (B)		770		728
MH Sub I, LLC (Micro Holding Corp.), Amendment No. 2 Initial Term Loan, 1st Lien
8.775%, LIBOR + 3.500%, 09/13/2024 (A)		20		20
Misys Limited, Dollar Term Loan, 1st Lien
8.655%, LIBOR + 3.500%, 06/13/2024 (A)		1,044		991
Motus Group LLC, Initial Term Loan, 1st Lien
8.775%, 12/11/2028		842		797
Netsmart Inc., Initial Term Loan, 1st Lien
9.025%, LIBOR + 3.500%, 10/01/2027 (A)		1,703		1,674
Open Text Corporation, Term B Loan, 1st Lien
8.582%, CME Term SOFR + 3.500%, 01/31/2030 (A)		1,403		1,399


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Open Text Corporation, Term Loan, 1st Lien
0.000%, 05/30/2025 (G)	$	500	$	499
Particle Luxembourg S.a.r.l., Initial Term Loan, 1st Lien
10.413%, LIBOR + 3.500%, 02/18/2027 (A)		1,385		1,358
PointClickCare Technologies Inc., 2022 Term Loan, 1st Lien
8.898%, 12/29/2027 (C)		683		679
Polaris Newco LLC, Dollar Term Loan, 1st Lien
9.159%, LIBOR + 4.000%, 06/02/2028 (A)		651		582
Project Boost Purchaser LLC, 2021 Tranche 2 Term Loan, 1st Lien
8.525%, 05/30/2026		863		848
Project Boost Purchaser LLC, Tranche 1 Term Loan, 1st Lien
8.525%, LIBOR + 3.500%, 06/01/2026 (A)(B)		313		308
Quest Software US Holdings Inc., Initial Loan, 2nd Lien
12.695%, CME Term SOFR + 7.500%, 02/01/2030 (A)		820		587
Quest Software US Holdings Inc., Initial Term Loan, 1st Lien
9.445%, 02/01/2029 (A)		1,246		1,053
Renaissance Holding Corp., Initial Term Loan, 1st Lien
9.732%, LIBOR + 3.250%, 04/05/2030 (A)		328		320
Renaissance Holding Corp., Initial Term Loan, 2nd Lien
12.025%, LIBOR + 3.250%, 05/29/2026 (A)		663		646
Sabre GLBL Inc., 2021 Other Term B-1 Loan, 1st Lien
8.525%, LIBOR + 3.500%, 12/17/2027 (A)		19		14
Sabre GLBL Inc., 2021 Term B-1 Loan, 1st Lien
8.525%, LIBOR + 3.500%, 12/17/2027 (A)		29		21
Sabre GLBL Inc., 2022 Term B-2 Loan, 1st Lien
10.082%, 06/30/2028 (A)		336		247
Sophia L.P., 2022 Incremental Term B-1 Loan, 1st Lien
9.232%, 10/07/2027		775		759
Sophia L.P., Closing Date Loan, 2nd Lien
13.159%, CME Term SOFR + 3.000%, 10/09/2028 (A)(C)		1,000		985


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Sophia L.P., Term Loan B, 1st Lien
8.659%, 10/07/2027	$	881	$	859
SS&C Technologies Holdings Inc., Term B-6 Loan, 1st Lien
7.332%, 03/22/2029 (A)		498		493
ThoughtWorks Inc., Incremental Term Loan, 1st Lien
7.525%, 03/24/2028 (A)		500		495
				27,326

Financial Intermediaries — 2.9%
Apple Bidco LLC, Amendment No. 1 Term Loan, 1st Lien
9.153%, 09/22/2028 (A)(B)		490		486
Apple Bidco LLC, Initial Term Loan, 1st Lien
9.268%, 09/22/2028 (A)(B)		665		646
AssuredPartners Inc., 2021 Term Loan, 1st Lien
8.525%, LIBOR + 7.250%, 02/12/2027 (A)		961		934
Brown Group Holding LLC, Incremental Term B-2 Facility, 1st Lien
8.903%, 07/02/2029		370		364
8.795%, 07/02/2029 (A)		959		944
Central Parent Inc., Initial Term Loan, 1st Lien
9.148%, 07/06/2029 (A)		937		921
Focus Financial Partners LLC, Term Loan, 1st Lien
0.000%, 06/30/2028 (B)(G)		738		724
Global IID Parent LLC, Term B Loan, 1st Lien
9.659%, 12/16/2028 (A)		826		776
HighTower Holding, LLC, Initial Term Loan, 1st Lien
9.127%, LIBOR + 3.250%, 04/21/2028 (A)		1,168		1,098
Husky Injection Molding Systems Ltd., Initial Term Loan, 1st Lien
8.151%, LIBOR + 3.000%, 03/28/2025 (A)		1,226		1,160
LS Group Opco Acquisition LLC (LS Group PropCo Acquisition LLC), Initial Term Loan, 1st Lien
8.284%, LIBOR + 3.750%, 11/02/2027 (A)		1,464		1,433
Madison IAQ LLC, Initial Term Loan, 1st Lien
8.302%, LIBOR + 3.250%, 06/21/2028 (A)		338		324
Matrix Parent Inc., Initial Term Loan, 1st Lien
10.056%, 03/01/2029		426		336


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Osmosis Buyer Limited, Initial Term B Loan, 1st Lien
8.804%, LIBOR + 5.000%, 07/31/2028 (A)	$	1,187	$	1,140
Propulsion (BC) Newco LLC, Initial Term Loan, 1st Lien
8.898%, 09/14/2029		1,114		1,101
Quirch Foods Holdings LLC, 2022-1 Incremental Term Loan, 1st Lien
9.865%, 10/27/2027 (A)		1,603		1,480
Summer (BC) Bidco B LLC, Additional Facility B2 (USD), 1st Lien
9.659%, LIBOR + 4.500%, 12/04/2026 (A)		1,290		1,192
Victory Buyer LLC, Initial Term Loan, 1st Lien
8.877%, 11/19/2028		693		604
				15,663

Food Service — 1.1%
1011778 B.C. Unlimited Liability Company, Term B-4 Loan, 1st Lien
5.025%, 11/19/2026		1,888		1,846
Aramark Intermediate HoldCo Corporation, U.S. Term B-3 Loan, 1st Lien
6.775%, LIBOR + 1.750%, 03/11/2025 (A)		929		925
IRB Holding Corp., 2022 Replacement Term B Loan, 1st Lien
8.082%, CME Term SOFR + 3.000%, 12/15/2027 (A)		1,836		1,779
Nomad Foods Limited, Facility B2, 1st Lien
8.561%, 11/12/2029 (B)		1,135		1,133
Whatabrands LLC, Initial Term B Loan, 1st Lien
8.275%, LIBOR + 3.250%, 08/03/2028 (A)		351		343
				6,026

Food/Drug Retailers — 0.3%
Eagle Parent Corp., Initial Term Loan, 1st Lien
9.148%, 04/02/2029		1,016		985
US Foods Inc., Incremental B-2019 Term Loan, 1st Lien
7.025%, 09/13/2026 (A)		391		389
				1,374

Health Care — 3.9%
Air Methods Corporation, Initial Term Loan, 1st Lien
8.659%, LIBOR + 3.500%, 04/22/2024 (A)		435		202


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Bausch + Lomb Corporation, Initial Term Loan, 1st Lien
8.457%, 05/10/2027 (A)	$	1,153	$	1,113
Catelent Pharma Solutions Inc., 2021 Incremental Dollar Term Loan B-3, 1st Lien
7.188%, 02/22/2028		825		795
CNT Holdings I Corp, Initial Term Loan, 2nd Lien
8.459%, LIBOR + 3.750%, 11/08/2027 (A)(B)		1,200		1,167
Confluent Medical Technologies, Inc., Closing Date Term Loan, 1st Lien
8.648%, CME Term SOFR + 3.750%, 02/16/2029 (A)		1,142		1,106
Envision Healthcare Corporation, Initial Term Loan, 1st Lien
8.909%, LIBOR + 3.750%, 10/10/2025 (A)(D)		446		3
Envision Healthcare Corporation, Series 2020 New Term Loan, 1st Lien
11.159%, LIBOR + 3.500%, 10/10/2025 (A)		348		101
Gainwell Acquisition Corp., Term B Loan, 1st Lien
8.998%, LIBOR + 3.500%, 10/01/2027 (A)		1,529		1,445
Global Medical Response Inc., 2018 New Term Loan, 1st Lien
9.203%, LIBOR + 4.250%, 03/14/2025 (A)		513		355
Global Medical Response Inc., 2021 Refinancing Term Loan, 1st Lien
9.236%, LIBOR + 4.250%, 10/02/2025 (A)		866		601
Grifols Worldwide Operations Limited, Dollar Tranche B Term Loan, 1st Lien
7.414%, LIBOR + 2.000%, 11/15/2027 (A)		650		624
Horizon Therapeutics USA Inc., Term Loan, 1st Lien
7.063%, 05/22/2026		350		349
Icon Public Limited Company, Lux Term Loan, 1st Lien
7.410%, 07/03/2028 (A)		956		954
Icon Public Limited Company, U.S. Term Loan, 1st Lien
7.409%, 07/03/2028 (A)		238		238
ICU Medical Inc., Tranche B Term Loan, 1st Lien
7.548%, 01/08/2029 (A)(B)		5		5


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
LifePoint Health Inc., (fka Regionalcare Hospital Partners Holdings Inc.), Term B Loan, 1st Lien
9.023%, LIBOR + 3.750%, 11/16/2025 (A)	$	487	$	427
Mamba Purchaser Inc., Initial Term Loan, 1st Lien
8.525%, 10/16/2028 (A)		650		630
Mamba Purchaser Inc., Initial Term Loan, 2nd Lien
11.525%, 10/15/2029 (C)		780		702
Maravai Intermediate Holdings, LLC, Tranche B Term Loan, 1st Lien
8.028%, 10/19/2027		1,579		1,569
Navicure Inc., Initial Term Loan, 1st Lien
9.025%, LIBOR + 4.000%, 10/22/2026 (A)		698		693
Option Care Health Inc., 2021 Refinancing Term Loan, 1st Lien
7.775%, 10/27/2028 (A)		1,152		1,148
Organon & Co., Dollar Term Commitment Loan, 1st Lien
8.000%, 06/02/2028 (A)		496		493
Radnet Management, Inc., Initial Term Loan, 1st Lien
8.097%, LIBOR + 3.750%, 04/23/2028 (A)		1,152		1,136
Select Medical Corporation, Tranche B Term Loan, 1st Lien
7.753%, LIBOR + 2.500%, 03/06/2025 (A)		262		260
Sotera Health Holdings, LLC, 1st Lien
8.023%, 12/11/2026 (A)		1,165		1,122
Team Health Holdings, Inc., Extended Term Loan, 1st Lien
10.403%, CME Term SOFR + 5.250%, 03/02/2027 (A)		736		444
Team Health Holdings, Inc., Non-Extended Term Loan, 1st Lien
7.775%, LIBOR + 2.750%, 02/06/2024 (A)		513		414
Tecostar Holdings, Inc., 2017 Term Loan, 1st Lien
8.891%, LIBOR + 3.750%, 05/01/2024 (A)		1,392		1,298
WCG Purchaser Corp., Initial Term Loan, 1st Lien
8.954%, LIBOR + 3.500%, 01/08/2027 (A)		1,379		1,308
				20,702


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Home Furnishings — 0.2%
Energizer Holdings Inc., 2020 Term Loan, 1st Lien
7.447%, 12/22/2027	$	830	$	819
Hunter Douglas Holdings B.V., Tranche B-1 Term Loan, 1st Lien
8.666%, 02/26/2029 (A)(B)		321		294
				1,113

Industrial Equipment — 1.5%
Alliance Laundry Systems LLC, Initial Term B Loan, 1st Lien
8.559%, LIBOR + 3.500%, 10/08/2027 (A)		777		768
Chart Industries Inc., Term Loan B1 1st Lien
8.916%, 03/15/2030		1,000		992
Copeland Corp LLC, Term Loan, 1st Lien
0.000%, 05/04/2030 (B)(G)		1,004		992
Engineered Machinery Holdings Inc., Incremental Amendment No. 5 Term Loan, 1st Lien
8.230%, 05/19/2028		747		728
Gates Global LLC, Initial B-3 Dollar Term Loan, 1st Lien
7.582%, 03/31/2027 (A)		502		496
Gates Global LLC, Term Loan, 1st Lien
8.653%, 11/16/2029 (A)		647		644
Hayward Industries Inc., Term Loan, 1st Lien
7.525%, 05/30/2028		522		506
II-VI, Term Z Loan, 1st Lien
7.847%, 07/02/2029 (A)		570		565
TerraForm Power Operating LLC, Term Loan, 1st Lien
0.000%, 05/21/2029 (G)		374		368
TMK Hawk Parent Corp., Initial Tranche A Loan (Super Senior Priority), 1st Lien
14.462%, LIBOR + 3.500%, 05/30/2024 (A)(C)		733		708
TMK Hawk Parent Corp., Initial Tranche B Loan (Super Senior Priority), 1st Lien
8.462%, LIBOR + 4.000%, 08/28/2024 (A)		934		523
Triton Water Holdings, Inc., Initial Term Loan, 1st Lien
8.659%, LIBOR + 3.500%, 03/31/2028 (A)		636		602
				7,892

Insurance — 1.9%
Acrisure, LLC, 2020 Term Loan, 1st Lien
8.525%, LIBOR + 3.250%, 02/15/2027 (A)		1,312		1,218


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Alliant Holdings Intermediate LLC, TLB-5 New Term Loan, 1st Lien
8.559%, 11/05/2027 (B)	$	672	$	654
AmWINS Group Inc., February 2023 Incremental Term Loan, 1st Lien
8.003%, 02/19/2028 (B)		750		742
Asurion, LLC, New B-8 Term Loan, 1st Lien
8.275%, LIBOR + 4.250%, 12/23/2026 (A)		694		641
Asurion, LLC, New B-9 Term Loan, 1st Lien
8.275%, LIBOR + 3.250%, 07/31/2027 (A)		522		473
Cross Financial Corp., Term B-1 Loan, 1st Lien
9.063%, LIBOR + 3.750%, 09/15/2027 (A)		1,405		1,391
Hub International Limited, B-3 Incremental Term Loan, 1st Lien
8.398%, LIBOR + 3.250%, 04/25/2025 (A)(B)		422		419
Hub International Limited, Initial Term Loan, 1st Lien
8.159%, LIBOR + 2.750%, 04/25/2025 (A)		3		3
8.138%, LIBOR + 2.750%, 04/25/2025 (A)		1,758		1,744
Ryan Specialty Group LLC, Initial Term Loan, 1st Lien
8.253%, 09/01/2027		250		249
USI Inc., 2021 New Term Loan, 1st Lien
8.409%, LIBOR + 4.500%, 12/02/2026 (A)		1,694		1,686
USI Inc., 2022 New Term Loan, 1st Lien
8.648%, 11/22/2029 (A)		723		711
				9,931

Leisure Goods/Activities/Movies — 2.2%
Alterra Mountain Company, Series B-1 Term Loan, 1st Lien
7.775%, 07/31/2024		280		279
Alterra Mountain Company, Series B-2 Term Loan, 1st Lien
8.525%, LIBOR + 4.000%, 08/17/2028 (A)		1,563		1,553
ClubCorp Holdings Inc., Term B Loan, 1st Lien
7.775%, LIBOR + 2.750%, 09/18/2024 (A)		805		753
Equinox Holdings Inc., Incremental Term B-1 Loan, 1st Lien
8.159%, LIBOR + 3.000%, 03/08/2024 (A)		267		239


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Equinox Holdings Inc., Term B-2 Loan, 1st Lien
14.159%, LIBOR + 4.250%, 03/08/2024 (A)	$	584	$	518
Formula One Management Limited, Term Loan, 1st Lien
8.232%, 01/15/2030 (A)		1,357		1,356
Hard Rock Northern Indiana, Term Loan B, 1st Lien
9.275%, 12/11/2028		818		785
Kingpin Intermediate Holdings LLC, Amendment No. 8 Term Loan, 1st Lien
8.653%, 02/08/2028		1,206		1,190
Lakeshore Learning Materials, LLC, Initial Term Loan, 1st Lien
8.525%, 09/29/2028 (A)		1,687		1,649
Life Time Inc., Term Loan, 1st Lien
9.800%, 01/15/2026		556		554
Live Nation Entertainment, Inc., Term B-4 Loan, 1st Lien
6.932%, LIBOR + 1.750%, 10/19/2026 (A)		524		512
Topgolf Callaway Brands Corp., Initial Term Loan, 1st Lien
8.753%, 03/15/2030		560		551
UFC Holdings LLC, Term B-3 Loan, 1st Lien
8.050%, LIBOR + 3.750%, 04/29/2026 (A)(B)		939		926
United PF Holdings, LLC, Initial Term Loan, 1st Lien
9.159%, LIBOR + 4.000%, 12/30/2026 (A)		1,227		896
				11,761

Lodging & Casinos — 1.2%
Aristocrat Technologies Inc., Term B Loan, 1st Lien
7.248%, 05/24/2029 (A)		320		320
Caesars Entertainment Inc., 2023 Incremental Term B Loan, 1st Lien
8.332%, 02/06/2030 (A)		1,160		1,149
Fertitta Entertainment, LLC, Initial B Term Loan, 1st Lien
8.982%, 01/27/2029 (A)(B)		1,080		1,038
Four Seasons Holdings Inc., 2022 Refinancing Term Loan, 1st Lien
8.332%, 11/30/2029 (A)		1,837		1,836
Golden Entertainment Inc., Term B Facility Loan, 1st Lien
8.030%, 10/21/2024 (A)		141		141


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Hilton Worldwide Finance LLC, Refinanced Series B-2 Term Loan, 1st Lien
6.950%, LIBOR + 1.750%, 06/22/2026 (A)	$	772	$	768
Station Casinos LLC, Term B-1 Facility Loan, 1st Lien
7.280%, 02/08/2027 (A)		1,360		1,335
				6,587

Oil & Gas — 0.3%
Freeport LNG Investments, LLLP, Initial Term B Loan, 1st Lien
8.750%, LIBOR + 3.500%, 12/21/2028 (A)		354		338
Freeport LNG Investments, LLLP, Term Loan, 1st Lien
8.250%, 11/16/2026		748		715
M6 ETX Holdings II Midco LLC, Initial Term Loan, 1st Lien
9.682%, 09/19/2029 (A)		283		278
Prairie ECI Acquiror LP, Initial Term Loan, 1st Lien
9.904%, 03/11/2026		399		391
				1,722

Publishing — 0.5%
Dun & Bradstreet Corporation, 2022 Incremental Term B-2 Loan, 1st Lien
8.247%, 01/18/2029 (A)		194		192
Dun & Bradstreet Corporation, Initial Term Borrowing, 1st Lien
8.410%, LIBOR + 3.250%, 02/06/2026 (A)		1,054		1,047
WMG Acquisition Group, Tranche G Term Loan, 1st Lien
7.150%, 01/20/2028		1,694		1,677
				2,916

Retailers (Except Food & Drug) — 0.6%
Belfor Holdings Inc., Initial Term Loan, 1st Lien
9.154%, 04/06/2026 (A)		600		596
Belfor Holdings Inc., Tranche B-2 Term Loan, 1st Lien
9.403%, 04/06/2026 (B)(C)		167		167
Brightview Landscapes LLC, Initial Term Loan (2022), 1st Lien
8.403%, 04/20/2029		128		125
8.295%, 04/20/2029		670		654
Hanesbrands Inc., Term Loan, 1st Lien
8.903%, 03/08/2030 (C)		203		201
LHS Borrower LLC, Initial Term Loan, 1st Lien
9.832%, 02/16/2029		447		344


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Mister Car Wash Holdings, Inc., Initial Term Loan, 1st Lien
7.991%, LIBOR + 4.000%, 05/14/2026 (A)	$	778	$	771
Sweetwater Borrower, LLC, Initial Term Loan, 1st Lien
9.313%, CME Term SOFR + 3.250%, 08/07/2028 (A)(C)		367		345
				3,203

Software & Service — 0.7%
CCC Information Services Inc., Initial Term Loan, 1st Lien
7.090%, 09/21/2028 (B)		750		737
Proofpoint Inc., Initial Loan, 2nd Lien
11.275%, LIBOR + 4.750%, 08/31/2029 (A)(C)		863		829
Proofpoint Inc., Term Loan, 1st Lien
8.404%, 08/31/2028 (A)		515		497
Qualtrics International Inc., Term Loan, 1st Lien
0.000%, 04/14/2030 (B)(C)(G)		750		740
Signant Health, Term Loan, 1st Lien
0.000%, 05/08/2028 (B)(G)		891		867
				3,670

Surface Transport — 0.2%
Dynasty Acquisition Co., Inc., 2020 Term B-1 Loan, 1st Lien
8.582%, LIBOR + 4.000%, 04/06/2026 (A)		627		611
Dynasty Acquisition Co., Inc., 2020 Term B-2 Loan, 1st Lien
8.582%, LIBOR + 4.250%, 04/06/2026 (A)		337		329
XPO Logistics Inc., Refinancing Term Loan (2018), 1st Lien
6.849%, LIBOR + 2.000%, 02/24/2025 (A)		24		24
				964

Telecommunications — 1.2%
Genesys Cloud Services Holdings I, LLC, Initial Dollar Term Loan (2020), 1st Lien
9.025%, LIBOR + 4.000%, 12/01/2027 (A)		1,652		1,609
Iridium Satellite LLC, Term B-2 Loan, 1st Lien
7.582%, 11/04/2026 (A)		1,542		1,539
Lumen Technologies Inc., Term A Loan, 1st Lien
7.097%, LIBOR + 2.000%, 01/31/2025 (A)		1,010		939


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Safe Fleet Holdings LLC, 2022 Initial Term Loan, 1st Lien
8.814%, CME Term SOFR + 3.750%, 02/23/2029 (A)	$	678	$	661
VC GB Holdings I Corp, Initial Term Loan, 2nd Lien
11.775%, LIBOR + 3.750%, 07/23/2029 (A)		1,129		941
Zayo Group Holdings, Inc., Initial Dollar Term Loan, 1st Lien
8.025%, LIBOR + 3.000%, 03/09/2027 (A)		990		759
				6,448

Utilities — 0.1%
Traverse Midstream Partners LLC, Advance Term Loan, 1st Lien
8.726%, LIBOR + 5.500%, 02/16/2028 (A)		680		669



Total Loan Participations
(Cost $190,160) ($ Thousands)				183,271



MORTGAGE-BACKED SECURITIES — 31.1%
Agency Mortgage-Backed Obligations — 0.8%
FHLMC ARM
4.826%, ICE LIBOR USD 12 Month + 2.470%, 03/01/2036(A)		461		455
3.832%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.250%, 06/01/2035(A)		313		319
FHLMC REMIC, Ser 2010-83, Cl BA
5.000%, 08/25/2040		96		97
FNMA
6.000%, 09/01/2039 to 04/01/2040		210		218
3.000%, 12/01/2030		259		249
FNMA ARM
5.802%, ICE LIBOR USD 6 Month + 1.433%, 03/01/2035(A)		176		178
5.591%, ICE LIBOR USD 6 Month + 1.580%, 07/01/2034(A)		64		65
4.915%, ICE LIBOR USD 12 Month + 1.665%, 04/01/2033(A)		95		93
4.510%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.184%, 07/01/2036(A)		315		321
4.464%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.332%, 04/01/2034(A)		214		218
4.339%, ICE LIBOR USD 12 Month + 1.601%, 06/01/2035(A)		43		42


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
4.260%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.141%, 10/01/2033(A)	$	250	$	250
4.184%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.220%, 08/01/2034(A)		412		421
4.068%, ICE LIBOR USD 12 Month + 1.873%, 10/01/2033(A)		94		96
4.027%, ICE LIBOR USD 12 Month + 1.777%, 09/01/2034(A)		301		296
4.020%, ICE LIBOR USD 12 Month + 1.770%, 10/01/2033(A)		81		79
3.988%, ICE LIBOR USD 12 Month + 1.565%, 05/01/2037(A)		204		206
3.983%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.205%, 05/01/2035(A)		95		96
3.814%, ICE LIBOR USD 12 Month + 1.490%, 10/01/2035(A)		287		288
3.550%, ICE LIBOR USD 12 Month + 1.800%, 05/01/2034(A)		83		83
FNMA CMO, Ser 2012-137, Cl UE
1.750%, 09/25/2041		88		82
FNMA, Ser 2017-M13, Cl FA
5.359%, ICE LIBOR USD 1 Month + 0.400%, 10/25/2024(A)		36		36
GNMA, Ser 2015-171, Cl IO, IO
0.845%, 11/16/2055(A)		8,084		231


				4,419
Non-Agency Mortgage-Backed Obligations — 30.3%
Angel Oak Mortgage Trust, Ser 2019-6, Cl A2
2.825%, 11/25/2059(A)(E)		213		205
Angel Oak Mortgage Trust, Ser 2020-1, Cl A1
2.466%, 12/25/2059(A)(E)		13		12
Angel Oak Mortgage Trust, Ser 2020-2, Cl A1A
2.531%, 01/26/2065(A)(E)		75		69
Angel Oak Mortgage Trust, Ser 2020-3, Cl A1
1.691%, 04/25/2065(A)(E)		91		83
Angel Oak Mortgage Trust, Ser 2020-4, Cl A1
1.469%, 06/25/2065(A)(E)		40		36
Angel Oak Mortgage Trust, Ser 2020-5, Cl A1
1.373%, 05/25/2065(A)(E)		347		319
Angel Oak Mortgage Trust, Ser 2020-R1, Cl A1
0.990%, 04/25/2053(A)(E)		64		58


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Angel Oak Mortgage Trust, Ser 2021-1, Cl A1
0.909%, 01/25/2066(A)(E)	$	174	$	145
Angel Oak Mortgage Trust, Ser 2021-2, Cl A1
0.985%, 04/25/2066(A)(E)		833		687
Angel Oak Mortgage Trust, Ser 2021-3, Cl A1
1.068%, 05/25/2066(A)(E)		148		122
Angel Oak Mortgage Trust, Ser 2021-5, Cl A1
0.951%, 07/25/2066(A)(E)		282		232
Arroyo Mortgage Trust, Ser 2019-1, Cl A1
3.805%, 01/25/2049(A)(E)		893		841
Arroyo Mortgage Trust, Ser 2019-3, Cl A1
2.962%, 10/25/2048(A)(E)		32		29
Arroyo Mortgage Trust, Ser 2021-1R, Cl A1
1.175%, 10/25/2048(A)(E)		1,024		827
Ashford Hospitality Trust, Ser 2018-ASHF, Cl B
6.482%, ICE LIBOR USD 1 Month + 1.375%, 04/15/2035(A)(E)		500		484
BAMLL Commercial Mortgage Securities Trust, Ser 2017-SCH, Cl AL
6.008%, ICE LIBOR USD 1 Month + 0.900%, 11/15/2032(A)(E)		500		418
Banc of America Funding, Ser 2005-F, Cl 4A1
3.617%, 09/20/2035(A)		27		21
Banc of America Funding, Ser 2006-D, Cl 3A1
4.396%, 05/20/2036(A)		28		24
Banc of America Funding, Ser 2006-I, Cl 1A1
4.061%, 12/20/2036(A)		1,021		988
Banc of America Mortgage Trust, Ser 2003-K, Cl 2A1
4.132%, 12/25/2033(A)		531		501
Banc of America Mortgage Trust, Ser 2004-A, Cl 2A2
4.174%, 02/25/2034(A)		510		495
Banc of America Mortgage Trust, Ser 2004-D, Cl 2A1
4.676%, 05/25/2034(A)		207		194
Banc of America Mortgage Trust, Ser 2005-A, Cl 2A1
3.883%, 02/25/2035(A)		9		8
BANK, Ser 2018-BN12, Cl A2
4.074%, 05/15/2061		554		553
BBCMS Mortgage Trust, Ser 2017-DELC, Cl A
6.082%, ICE LIBOR USD 1 Month + 0.975%, 08/15/2036(A)(E)		1,027		1,026
BBCMS Mortgage Trust, Ser 2017-DELC, Cl E
7.732%, ICE LIBOR USD 1 Month + 2.625%, 08/15/2036(A)(E)		500		499


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Bear Stearns Alt-A Trust, Ser 2003-5, Cl 2A1
4.622%, 12/25/2033(A)	$	557	$	529
Bear Stearns Alt-A Trust, Ser 2004-7, Cl 2A1
4.365%, 08/25/2034(A)		899		863
Bear Stearns ARM Trust, Ser 2003-8, Cl 4A1
4.080%, 01/25/2034(A)		1,195		1,160
Bear Stearns ARM Trust, Ser 2004-1, Cl 21A1
4.577%, 04/25/2034(A)		164		157
Bear Stearns ARM Trust, Ser 2004-2, Cl 12A2
3.607%, 05/25/2034(A)		695		630
Bear Stearns ARM Trust, Ser 2004-3, Cl 2A
3.740%, 07/25/2034(A)		563		526
Bear Stearns ARM Trust, Ser 2004-5, Cl 2A
3.456%, 07/25/2034(A)		562		506
Bellemeade Re, Ser 2021-1A, Cl M1A
6.723%, SOFR30A + 1.750%, 03/25/2031(A)(E)		103		103
Bellemeade Re, Ser 2021-2A, Cl M1A
6.173%, SOFR30A + 1.200%, 06/25/2031(A)(E)		516		513
Bellemeade Re, Ser 2021-3A, Cl M1A
5.973%, SOFR30A + 1.000%, 09/25/2031(A)(E)		707		702
Bellemeade Re, Ser 2022-1, Cl M1A
6.723%, SOFR30A + 1.750%, 01/26/2032(A)(E)		1,000		997
BFLD Trust, Ser 2020-OBRK, Cl A
7.224%, TSFR1M + 2.164%, 11/15/2028(A)(E)		240		238
BPR Trust, Ser 2022-OANA, Cl A
6.957%, TSFR1M + 1.898%, 04/15/2037(A)(E)		595		576
BRAVO Residential Funding Trust, Ser 2019-1, Cl A1C
3.500%, 03/25/2058(E)		908		885
BRAVO Residential Funding Trust, Ser 2020-NQM1, Cl A1
1.449%, 05/25/2060(A)(E)		41		38
BRAVO Residential Funding Trust, Ser 2021-NQM1, Cl A1
0.941%, 02/25/2049(A)(E)		73		63
BRAVO Residential Funding Trust, Ser 2021-NQM2, Cl A1
0.970%, 03/25/2060(A)(E)		67		62
BRAVO Residential Funding Trust, Ser 2021-NQM3, Cl A1
1.699%, 04/25/2060(A)(E)		138		122
Bunker Hill Loan Depositary Trust, Ser 2020-1, Cl A1
1.724%, 02/25/2055(A)(E)		37		35
BWay Mortgage Trust, Ser 2013-1515, Cl A1
2.809%, 03/10/2033(E)		73		70


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
BX Commercial Mortgage Trust, Ser 2019-XL, Cl F
7.174%, TSFR1M + 2.114%, 10/15/2036(A)(E)	$	425	$	414
BX Commercial Mortgage Trust, Ser 2019-XL, Cl A
6.094%, TSFR1M + 1.034%, 10/15/2036(A)(E)		219		218
BX Commercial Mortgage Trust, Ser 2019-XL, Cl E
6.974%, TSFR1M + 1.914%, 10/15/2036(A)(E)		1,062		1,041
BX Commercial Mortgage Trust, Ser 2020-VKNG, Cl C
6.574%, TSFR1M + 1.514%, 10/15/2037(A)(E)		770		748
BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl D
6.508%, ICE LIBOR USD 1 Month + 1.400%, 06/15/2038(A)(E)		679		646
BX Commercial Mortgage Trust, Ser 2021-VINO, Cl A
5.759%, ICE LIBOR USD 1 Month + 0.652%, 05/15/2038(A)(E)		240		233
BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl A
5.807%, ICE LIBOR USD 1 Month + 0.700%, 09/15/2036(A)(E)		195		188
BX Commercial Mortgage Trust, Ser 2022-LP2, Cl A
6.072%, TSFR1M + 1.013%, 02/15/2039(A)(E)		1,857		1,804
BX Trust, Ser 2021-SDMF, Cl B
5.845%, ICE LIBOR USD 1 Month + 0.738%, 09/15/2034(A)(E)		1,000		955
BX Trust, Ser 2022-LBA6, Cl A
6.059%, TSFR1M + 1.000%, 01/15/2039(A)(E)		210		204
BX Trust, Ser 2022-VAMF, Cl D
6.939%, TSFR1M + 1.880%, 01/15/2039(A)(E)		1,000		955
BX Trust, Ser 2023-DELC, Cl A
7.690%, TSFR1M + 2.690%, 06/15/2038(A)(E)		1,000		999
BX, Ser 2021-MFM1, Cl C
6.374%, TSFR1M + 1.314%, 01/15/2034(A)(E)		904		876
BXHPP Trust, Ser 2021-FILM, Cl C
6.207%, ICE LIBOR USD 1 Month + 1.100%, 08/15/2036(A)(E)		530		476


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
CAMB Commercial Mortgage Trust, Ser 2019-LIFE, Cl B
6.357%, ICE LIBOR USD 1 Month + 1.250%, 12/15/2037(A)(E)	$	2,000	$	1,969
CAMB Commercial Mortgage Trust, Ser 2019-LIFE, Cl E
7.257%, ICE LIBOR USD 1 Month + 2.150%, 12/15/2037(A)(E)		500		485
Chase Mortgage Finance Trust, Ser 2007-A1, Cl 7A1
4.305%, 02/25/2037(A)		117		115
Chase Mortgage Finance Trust, Ser 2007-A2, Cl 2A3
4.136%, 06/25/2035(A)		255		247
CHL Mortgage Pass-Through Trust, Ser 2004-8, Cl 2A1
4.500%, 06/25/2019		6		–
Citigroup Commercial Mortgage Trust, Ser 2006-C4, Cl C
6.306%, 03/15/2049(A)		95		93
Citigroup Commercial Mortgage Trust, Ser 2018-TBR, Cl A
6.062%, ICE LIBOR USD 1 Month + 0.955%, 12/15/2036(A)(E)		1,000		985
Cold Storage Trust, Ser 2020-ICE5, Cl D
7.207%, ICE LIBOR USD 1 Month + 2.100%, 11/15/2037(A)(E)		737		720
COLT Funding LLC, Ser 2021-3R, Cl A1
1.051%, 12/25/2064(A)(E)		98		84
COLT Mortgage Loan Trust, Ser 2020-2R, Cl A1
1.325%, 10/26/2065(A)(E)		38		34
COLT Mortgage Loan Trust, Ser 2020-3, Cl A1
1.506%, 04/27/2065(A)(E)		24		22
COLT Mortgage Loan Trust, Ser 2021-1, Cl A1
0.910%, 06/25/2066(A)(E)		125		101
COLT Mortgage Loan Trust, Ser 2021-2, Cl A1
0.924%, 08/25/2066(A)(E)		2,517		1,950
COLT Mortgage Loan Trust, Ser 2021-2R, Cl A1
0.798%, 07/27/2054(E)		53		45
COLT Mortgage Loan Trust, Ser 2021-4, Cl A2
1.500%, 10/25/2066(A)(E)		1,637		1,282
COLT Mortgage Loan Trust, Ser 2021-4, Cl A1
1.397%, 10/25/2066(A)(E)		327		258
COLT Mortgage Loan Trust, Ser 2021-5, Cl A1
1.726%, 11/26/2066(A)(E)		839		706


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
COLT Mortgage Loan Trust, Ser 2021-HX1, Cl A1
1.110%, 10/25/2066(A)(E)	$	332	$	269
COLT Mortgage Loan Trust, Ser 2022-7, Cl A1
5.162%, 04/25/2067(E)(F)		890		876
COLT Mortgage Pass-Through Certificates, Ser 2021-1R, Cl A1
0.857%, 05/25/2065(A)(E)		113		94
COMM Mortgage Trust, Ser 2013-300P, Cl E
4.394%, 08/10/2030(A)(E)		300		204
COMM Mortgage Trust, Ser 2013-CR10, Cl XA, IO
0.512%, 08/10/2046(A)		5,329		–
COMM Mortgage Trust, Ser 2014-CR14, Cl XA, IO
0.506%, 02/10/2047(A)		23,769		33
Commercial Mortgage Pass-Through Certificates, Ser 2017-PANW, Cl A
3.244%, 10/10/2029(E)		700		657
Connecticut Avenue Securities Trust, Ser 2021-R01, Cl 1M1
5.723%, SOFR30A + 0.750%, 10/25/2041(A)(E)		142		141
Connecticut Avenue Securities Trust, Ser 2022-R02, Cl 2M1
6.173%, SOFR30A + 1.200%, 01/25/2042(A)(E)		1,251		1,242
Connecticut Avenue Securities Trust, Ser 2022-R03, Cl 1M1
7.073%, SOFR30A + 2.100%, 03/25/2042(A)(E)		740		744
Connecticut Avenue Securities Trust, Ser 2022-R04, Cl 1M1
6.973%, SOFR30A + 2.000%, 03/25/2042(A)(E)		1,058		1,063
Connecticut Avenue Securities Trust, Ser 2022-R05, Cl 2M1
6.873%, SOFR30A + 1.900%, 04/25/2042(A)(E)		363		363
Connecticut Avenue Securities Trust, Ser 2022-R07, Cl 1M1
7.931%, SOFR30A + 2.950%, 06/25/2042(A)(E)		1,150		1,173
Connecticut Avenue Securities Trust, Ser 2023-R01, Cl 1M1
7.381%, SOFR30A + 2.400%, 12/25/2042(A)(E)		431		433
Connecticut Avenue Securities Trust, Ser 2023-R03, Cl 2M1
7.473%, SOFR30A + 2.500%, 04/25/2043(A)(E)		1,940		1,959


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Connecticut Avenue Securities Trust, Ser 2023-R04, Cl 1M1
7.273%, SOFR30A + 2.300%, 05/25/2043(A)(E)	$	3,000	$	3,000
Credit Suisse First Boston Mortgage Securities, Ser 2005-5, Cl 3A2
5.438%, ICE LIBOR USD 1 Month + 0.300%, 07/25/2035(A)		205		203
Credit Suisse Mortgage Capital Certificates, Ser 2021-NQM4, Cl A1
1.101%, 05/25/2066(A)(E)		166		135
CSFB Mortgage-Backed Pass-Through Certificates, Ser 2004-AR5, Cl 6A1
4.925%, 06/25/2034(A)		981		951
CSMC Trust, Ser 2019-AFC1, Cl A1
2.573%, 07/25/2049(E)(F)		219		202
CSMC Trust, Ser 2021-AFC1, Cl A1
0.830%, 03/25/2056(A)(E)		137		105
CSMC, Ser 2021-NQM1, Cl A1
0.809%, 05/25/2065(A)(E)		133		112
CSMC, Ser 2021-NQM3, Cl A1
1.015%, 04/25/2066(A)(E)		240		195
DBCG Mortgage Trust, Ser 2017-BBG, Cl C
6.108%, ICE LIBOR USD 1 Month + 1.000%, 06/15/2034(A)(E)		1,100		1,072
DBGS Mortgage Trust, Ser 2018-BIOD, Cl A
6.160%, ICE LIBOR USD 1 Month + 0.803%, 05/15/2035(A)(E)		1,828		1,803
Deephaven Residential Mortgage Trust, Ser 2021-1, Cl A1
0.715%, 05/25/2065(A)(E)		41		36
Deephaven Residential Mortgage Trust, Ser 2021-2, Cl A1
0.899%, 04/25/2066(A)(E)		329		286
Deephaven Residential Mortgage Trust, Ser 2021-2, Cl A3
1.260%, 04/25/2066(A)(E)		527		458
Eagle Re, Ser 2021-2, Cl M1A
6.523%, SOFR30A + 1.550%, 04/25/2034(A)(E)		1,849		1,849
Ellington Financial Mortgage Trust, Ser 2019-2, Cl A2
2.892%, 11/25/2059(A)(E)		386		356
Ellington Financial Mortgage Trust, Ser 2020-2, Cl A1
1.178%, 10/25/2065(A)(E)		472		424
Ellington Financial Mortgage Trust, Ser 2021-1, Cl A1
0.797%, 02/25/2066(A)(E)		695		582
Ellington Financial Mortgage Trust, Ser 2021-2, Cl A1
0.931%, 06/25/2066(A)(E)		89		72


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
ELP Commercial Mortgage Trust, Ser 2021-ELP, Cl A
5.809%, ICE LIBOR USD 1 Month + 0.701%, 11/15/2038(A)(E)	$	350	$	337
FHLMC STACR REMIC Trust, Ser 2021-DNA3, Cl M1
5.723%, SOFR30A + 0.750%, 10/25/2033(A)(E)		485		482
FHLMC STACR REMIC Trust, Ser 2021-DNA5, Cl M2
6.623%, SOFR30A + 1.650%, 01/25/2034(A)(E)		187		186
FHLMC STACR REMIC Trust, Ser 2021-DNA7, Cl M1
5.823%, SOFR30A + 0.850%, 11/25/2041(A)(E)		2,267		2,238
FHLMC STACR REMIC Trust, Ser 2021-HQA2, Cl M1
5.673%, SOFR30A + 0.700%, 12/25/2033(A)(E)		280		279
FHLMC STACR REMIC Trust, Ser 2021-HQA3, Cl M1
5.823%, SOFR30A + 0.850%, 09/25/2041(A)(E)		2,037		1,973
FHLMC STACR REMIC Trust, Ser 2021-HQA4, Cl M1
5.923%, SOFR30A + 0.950%, 12/25/2041(A)(E)		2,691		2,598
FHLMC STACR REMIC Trust, Ser 2022-DNA1, Cl M1B
6.823%, SOFR30A + 1.850%, 01/25/2042(A)(E)		943		910
FHLMC STACR REMIC Trust, Ser 2022-DNA1, Cl M1A
5.973%, SOFR30A + 1.000%, 01/25/2042(A)(E)		1,645		1,616
FHLMC STACR REMIC Trust, Ser 2022-DNA2, Cl M1A
6.273%, SOFR30A + 1.300%, 02/25/2042(A)(E)		1,354		1,346
FHLMC STACR REMIC Trust, Ser 2022-DNA3, Cl M1A
6.973%, SOFR30A + 2.000%, 04/25/2042(A)(E)		1,394		1,401
FHLMC STACR REMIC Trust, Ser 2022-DNA6, Cl M1A
7.123%, SOFR30A + 2.150%, 09/25/2042(A)(E)		419		422
FHLMC STACR REMIC Trust, Ser 2022-HQA1, Cl M1A
7.073%, SOFR30A + 2.100%, 03/25/2042(A)(E)		1,508		1,510


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC STACR REMIC Trust, Ser 2022-HQA3, Cl M1A
7.273%, SOFR30A + 2.300%, 08/25/2042(A)(E)	$	473	$	474
FHLMC STACR REMIC Trust, Ser 2023-DNA1, Cl M1B
8.081%, SOFR30A + 3.100%, 03/25/2043(A)(E)		2,000		2,005
FHLMC STACR REMIC Trust, Ser 2023-HQA1, Cl M1A
6.923%, SOFR30A + 2.000%, 05/25/2043(A)(E)		2,000		2,000
FHLMC STACR Trust, Ser 2018-DNA2, Cl M2AS
6.088%, ICE LIBOR USD 1 Month + 0.950%, 12/25/2030(A)(E)		1,455		1,449
FHLMC STACR Trust, Ser 2019-FTR2, Cl M1
6.088%, ICE LIBOR USD 1 Month + 0.950%, 11/25/2048(A)(E)		580		575
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2022-HQA2, Cl M1A
7.623%, SOFR30A + 2.650%, 07/25/2042(A)(E)		201		205
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2022-HQA2, Cl M1B
8.973%, SOFR30A + 4.000%, 07/25/2042(A)(E)		1,000		1,022
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2023-DNA2, Cl M1B
8.231%, SOFR30A + 3.250%, 04/25/2043(A)(E)		1,000		1,002
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2023-DNA2, Cl M1A
7.081%, SOFR30A + 2.100%, 04/25/2043(A)(E)		1,093		1,098
FHLMC Whole Loan Securities Trust, Ser 2016-SC01, Cl M2
3.903%, 07/25/2046(A)		393		367
FNMA Connecticut Avenue Securities, Ser 2014-C04, Cl 2M2
10.138%, ICE LIBOR USD 1 Month + 5.000%, 11/25/2024(A)		28		28
FNMA Connecticut Avenue Securities, Ser 2016-C03, Cl 2M2
11.038%, ICE LIBOR USD 1 Month + 5.900%, 10/25/2028(A)		115		122
FNMA Connecticut Avenue Securities, Ser 2021-R02, Cl 2M1
5.873%, SOFR30A + 0.900%, 11/25/2041(A)(E)		924		916
GCAT Trust, Ser 2020-NQM2, Cl A1
1.555%, 04/25/2065(E)(F)		47		43


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GCAT Trust, Ser 2021-CM1, Cl A
1.469%, 04/25/2065(A)(E)	$	186	$	169
GCAT Trust, Ser 2021-NQM1, Cl A1
0.874%, 01/25/2066(A)(E)		756		637
GCAT Trust, Ser 2021-NQM3, Cl A1
1.091%, 05/25/2066(A)(E)		142		116
GCAT Trust, Ser 2021-NQM5, Cl A1
1.262%, 07/25/2066(A)(E)		485		388
GS Mortgage Securities Trust, Ser 2011-GC3, Cl X, IO
0.000%, 03/10/2044(A)(E)(G)		789		–
GS Mortgage Securities Trust, Ser 2020-DUNE, Cl B
6.457%, ICE LIBOR USD 1 Month + 1.350%, 12/15/2036(A)(E)		500		485
GS Mortgage Securities Trust, Ser 2021-STAR, Cl B
6.507%, ICE LIBOR USD 1 Month + 1.400%, 12/15/2036(A)(E)		1,000		967
GS Mortgage-Backed Securities Trust, Ser 2021-NQM1, Cl A2
1.275%, 07/25/2061(A)(E)		800		685
GSR Mortgage Loan Trust, Ser 2005-AR1, Cl 1A1
4.367%, 01/25/2035(A)		44		40
GSR Mortgage Loan Trust, Ser 2005-AR2, Cl 1A2
3.820%, 04/25/2035(A)		150		135
HarborView Mortgage Loan Trust, Ser 2004-6, Cl 4A
4.765%, 08/19/2034(A)		815		803
Hilton Orlando Trust, Ser 2018-ORL, Cl B
6.407%, ICE LIBOR USD 1 Month + 1.300%, 12/15/2034(A)(E)		1,000		982
HPLY Trust, Ser 2019-HIT, Cl B
6.457%, ICE LIBOR USD 1 Month + 1.350%, 11/15/2036(A)(E)		383		375
Impac CMB Trust, Ser 2004-6, Cl 1A2
5.918%, ICE LIBOR USD 1 Month + 0.780%, 10/25/2034(A)		561		542
Imperial Fund Mortgage Trust, Ser 2021-NQM1, Cl A1
1.071%, 06/25/2056(A)(E)		195		165
Imperial Fund Mortgage Trust, Ser 2021-NQM2, Cl A1
1.073%, 09/25/2056(A)(E)		152		123
Imperial Fund Mortgage Trust, Ser 2021-NQM3, Cl A1
1.595%, 11/25/2056(A)(E)		146		122
Imperial Fund Mortgage Trust, Ser 2022-NQM5, Cl A3
6.250%, 08/25/2067(E)(F)		373		371


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Intown Mortgage Trust, Ser 2022-STAY, Cl A
7.548%, TSFR1M + 2.489%, 08/15/2039(A)(E)	$	1,500	$	1,500
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2019-MFP, Cl B
6.267%, ICE LIBOR USD 1 Month + 1.160%, 07/15/2036(A)(E)		1,000		985
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2020-ACE, Cl A
3.287%, 01/10/2037(E)		1,000		943
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2020-NNN, Cl XAFX, IO
2.032%, 01/16/2037(A)(E)		12,500		251
JPMorgan Mortgage Trust, Ser 2005-A3, Cl 6A2
4.375%, 06/25/2035(A)		172		169
JPMorgan Mortgage Trust, Ser 2005-A4, Cl 4A2
4.441%, 07/25/2035(A)		314		308
JPMorgan Mortgage Trust, Ser 2006-A2, Cl 5A3
4.194%, 11/25/2033(A)		63		61
JPMorgan Mortgage Trust, Ser 2007-A1, Cl 5A2
4.048%, 07/25/2035(A)		280		273
JPMorgan Mortgage Trust, Ser 2007-A1, Cl 1A1
4.183%, 07/25/2035(A)		304		295
JPMorgan Mortgage Trust, Ser 2007-A4, Cl 1A1
4.119%, 06/25/2037(A)		24		19
JPMorgan Mortgage Trust, Ser 2018-7FRB, Cl A2
5.888%, ICE LIBOR USD 1 Month + 0.750%, 04/25/2046(A)(E)		70		67
KNDL Mortgage Trust, Ser 2019-KNSQ, Cl E
7.057%, ICE LIBOR USD 1 Month + 1.800%, 05/15/2036(A)(E)		550		540
KNDL Mortgage Trust, Ser 2019-KNSQ, Cl A
6.057%, ICE LIBOR USD 1 Month + 0.800%, 05/15/2036(A)(E)		150		149
Life Mortgage Trust, Ser 2021-BMR, Cl D
6.574%, TSFR1M + 1.514%, 03/15/2038(A)(E)		983		942
Life Mortgage Trust, Ser 2022-BMR2, Cl A1
6.355%, TSFR1M + 1.295%, 05/15/2039(A)(E)		2,000		1,958
MASTR Adjustable Rate Mortgages Trust, Ser 2005-6, Cl 5A1
3.096%, 07/25/2035(A)		19		17


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
MASTR Alternative Loan Trust, Ser 2003-5, Cl 4A1
5.500%, 07/25/2033	$	690	$	670
Mellon Residential Funding, Ser 1999-TBC3, Cl A2
5.518%, 10/20/2029(A)		102		103
Merrill Lynch Mortgage Investors Trust, Ser 2003-E, Cl A1
5.758%, ICE LIBOR USD 1 Month + 0.620%, 10/25/2028(A)		290		268
Merrill Lynch Mortgage Investors Trust, Ser 2004-1, Cl 2A1
3.876%, 12/25/2034(A)		469		438
Merrill Lynch Mortgage Investors Trust, Ser 2005-A2, Cl A3
4.160%, 02/25/2035(A)		359		325
Merrill Lynch Mortgage Investors Trust, Ser 2005-A2, Cl A5
4.160%, 02/25/2035(A)		267		250
Merrill Lynch Mortgage Investors Trust, Ser 2005-A2, Cl A2
4.160%, 02/25/2035(A)		1,300		1,218
Merrill Lynch Mortgage Investors Trust, Ser 2005-A4, Cl 1A
3.891%, 07/25/2035(A)		249		133
Merrill Lynch Mortgage Investors Trust, Ser 2007-1, Cl 2A1
4.128%, 01/25/2037(A)		443		436
MetLife Securitization Trust, Ser 2017-1A, Cl A
3.000%, 04/25/2055(A)(E)		126		118
MFA Trust, Ser 2020-NQM1, Cl A1
1.479%, 03/25/2065(A)(E)		583		533
MFA Trust, Ser 2020-NQM3, Cl A1
1.014%, 01/26/2065(A)(E)		40		36
MFA Trust, Ser 2021-INV1, Cl A1
0.852%, 01/25/2056(A)(E)		76		67
MFA Trust, Ser 2021-NQM1, Cl A1
1.153%, 04/25/2065(A)(E)		716		627
MFA Trust, Ser 2021-NQM2, Cl A1
1.029%, 11/25/2064(A)(E)		1,153		955
MHC Commercial Mortgage Trust, Ser 2021-MHC, Cl D
6.774%, TSFR1M + 1.715%, 04/15/2038(A)(E)		1,500		1,447
MHP, Ser 2021-STOR, Cl A
5.807%, ICE LIBOR USD 1 Month + 0.700%, 07/15/2038(A)(E)		105		102
MHP, Ser 2022-MHIL, Cl A
5.874%, TSFR1M + 0.815%, 01/15/2027(A)(E)		131		127


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
MHP, Ser 2022-MHIL, Cl B
6.173%, TSFR1M + 1.114%, 01/15/2027(A)(E)	$	1,943	$	1,857
Mill City Mortgage Loan Trust, Ser 2017-3, Cl A1
2.750%, 01/25/2061(A)(E)		94		91
Mill City Mortgage Loan Trust, Ser 2021-NMR1, Cl A1
1.125%, 11/25/2060(A)(E)		85		79
Morgan Stanley Mortgage Loan Trust, Ser 2004-10AR, Cl 1A
4.403%, 11/25/2034(A)		569		526
Morgan Stanley Mortgage Loan Trust, Ser 2004-5AR, Cl 3A1
4.380%, 07/25/2034(A)		257		240
Morgan Stanley Mortgage Loan Trust, Ser 2004-8AR, Cl 4A2
4.499%, 10/25/2034(A)		518		503
MortgageIT Trust, Ser 2005-1, Cl 2A
6.284%, ICE LIBOR USD 1 Month + 1.250%, 02/25/2035(A)		179		171
MSCG Trust, Ser 2018-SELF, Cl A
6.008%, ICE LIBOR USD 1 Month + 0.900%, 10/15/2037(A)(E)		1,330		1,310
New Residential Mortgage Loan Trust, Ser 2017-3A, Cl A1
4.000%, 04/25/2057(A)(E)		121		115
New Residential Mortgage Loan Trust, Ser 2017-5A, Cl A1
6.638%, ICE LIBOR USD 1 Month + 1.500%, 06/25/2057(A)(E)		1,002		981
New Residential Mortgage Loan Trust, Ser 2017-6A, Cl A1
4.000%, 08/27/2057(A)(E)		321		300
New Residential Mortgage Loan Trust, Ser 2018-1A, Cl A1A
4.000%, 12/25/2057(A)(E)		469		442
New Residential Mortgage Loan Trust, Ser 2018-4A, Cl A1M
6.038%, ICE LIBOR USD 1 Month + 0.900%, 01/25/2048(A)(E)		1,081		1,049
New Residential Mortgage Loan Trust, Ser 2018-4A, Cl A1S
5.888%, ICE LIBOR USD 1 Month + 0.750%, 01/25/2048(A)(E)		1,748		1,693
New Residential Mortgage Loan Trust, Ser 2018-4A, Cl B1
6.188%, ICE LIBOR USD 1 Month + 1.050%, 01/25/2048(A)(E)		1,874		1,812
New Residential Mortgage Loan Trust, Ser 2020-NQM1, Cl A1
2.464%, 01/26/2060(A)(E)		69		63


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
New Residential Mortgage Loan Trust, Ser 2020-NQM2, Cl A1
1.650%, 05/24/2060(A)(E)	$	32	$	30
New Residential Mortgage Loan Trust, Ser 2021-NQ2R, Cl A1
0.941%, 10/25/2058(A)(E)		54		48
New Residential Mortgage Loan Trust, Ser 2021-NQM3, Cl A1
1.156%, 11/27/2056(A)(E)		249		205
Oaktown Re VII, Ser 2021-2, Cl M1A
6.573%, SOFR30A + 1.600%, 04/25/2034(A)(E)		1,000		993
OBX Trust, Ser 2018-1, Cl A2
5.788%, ICE LIBOR USD 1 Month + 0.650%, 06/25/2057(A)(E)		760		717
OBX Trust, Ser 2020-INV1, Cl A11
5.920%, ICE LIBOR USD 1 Month + 0.900%, 12/25/2049(A)(E)		338		313
OBX Trust, Ser 2021-NQM2, Cl A1
1.101%, 05/25/2061(A)(E)		1,427		1,138
OPG Trust, Ser 2021-PORT, Cl D
6.238%, ICE LIBOR USD 1 Month + 1.131%, 10/15/2036(A)(E)		666		626
PKHL Commercial Mortgage Trust, Ser 2021-MF, Cl F
8.458%, ICE LIBOR USD 1 Month + 3.350%, 07/15/2038(A)(E)		400		369
PRPM LLC, Ser 2021-RPL1, Cl A1
1.319%, 07/25/2051(E)(F)		84		74
Radnor Re, Ser 2021-1, Cl M1B
6.673%, SOFR30A + 1.700%, 12/27/2033(A)(E)		1,520		1,517
Residential Asset Securitization Trust, Ser 2007-A8, Cl 3A1
6.237%, 08/25/2023(A)		419		194
Residential Mortgage Loan Trust, Ser 2020-1, Cl A1
2.376%, 01/26/2060(A)(E)		21		20
Sequoia Mortgage Trust, Ser 2002-10, Cl 1A
5.948%, ICE LIBOR USD 1 Month + 0.800%, 10/20/2027(A)		717		688
Sequoia Mortgage Trust, Ser 2002-9, Cl 1A
5.848%, ICE LIBOR USD 1 Month + 0.700%, 09/20/2032(A)		268		254
Sequoia Mortgage Trust, Ser 2004-12, Cl A1
5.688%, ICE LIBOR USD 1 Month + 0.540%, 01/20/2035(A)		1,263		1,135
Sequoia Mortgage Trust, Ser 2004-3, Cl A
5.911%, ICE LIBOR USD 6 Month + 0.500%, 05/20/2034(A)		188		187
Sequoia Mortgage Trust, Ser 2004-5, Cl A1
4.904%, 06/20/2034(A)		729		648


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
SG Residential Mortgage Trust, Ser 2019-3, Cl A3
3.082%, 09/25/2059(A)(E)	$	1,759	$	1,698
SG Residential Mortgage Trust, Ser 2021-1, Cl A1
1.160%, 07/25/2061(A)(E)		264		209
SG Residential Mortgage Trust, Ser 2021-2, Cl A1
1.737%, 12/25/2061(A)(E)		1,662		1,341
STAR Trust, Ser 2021-1, Cl A1
1.219%, 05/25/2065(A)(E)		96		83
Starwood Mortgage Residential Trust, Ser 2020-1, Cl A1
2.275%, 02/25/2050(A)(E)		8		8
Starwood Mortgage Residential Trust, Ser 2020-3, Cl A1
1.486%, 04/25/2065(A)(E)		409		377
Starwood Mortgage Residential Trust, Ser 2021-2, Cl A1
0.943%, 05/25/2065(A)(E)		48		43
Starwood Mortgage Residential Trust, Ser 2021-3, Cl A1
1.127%, 06/25/2056(A)(E)		155		126
Structured Adjustable Rate Mortgage Loan Trust, Ser 2004-9XS, Cl A
5.508%, ICE LIBOR USD 1 Month + 0.370%, 07/25/2034(A)		730		718
Structured Adjustable Rate Mortgage Loan Trust, Ser 2005-7, Cl 1A3
4.671%, 04/25/2035(A)		568		531
Thornburg Mortgage Securities Trust, Ser 2005-1, Cl A3
3.869%, 04/25/2045(A)		698		658
Toorak Mortgage, Ser 2021-INV1, Cl A1
1.153%, 07/25/2056(A)(E)		1,431		1,211
Towd Point Mortgage Trust, Ser 2017-1, Cl A1
2.750%, 10/25/2056(A)(E)		45		44
Towd Point Mortgage Trust, Ser 2017-2, Cl A1
2.750%, 04/25/2057(A)(E)		33		32
Towd Point Mortgage Trust, Ser 2017-4, Cl A1
2.750%, 06/25/2057(A)(E)		650		615
Towd Point Mortgage Trust, Ser 2017-5, Cl A1
4.455%, ICE LIBOR USD 1 Month + 0.600%, 02/25/2057(A)(E)		476		474
Towd Point Mortgage Trust, Ser 2017-6, Cl A1
2.750%, 10/25/2057(A)(E)		141		134


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Towd Point Mortgage Trust, Ser 2018-3, Cl A1
3.750%, 05/25/2058(A)(E)	$	664	$	632
Towd Point Mortgage Trust, Ser 2018-4, Cl A1
3.000%, 06/25/2058(A)(E)		889		820
Towd Point Mortgage Trust, Ser 2019-HY1, Cl A1
6.138%, ICE LIBOR USD 1 Month + 1.000%, 10/25/2048(A)(E)		1,509		1,496
Towd Point Mortgage Trust, Ser 2019-HY2, Cl M2
7.038%, ICE LIBOR USD 1 Month + 1.900%, 05/25/2058(A)(E)		3,000		2,927
Towd Point Mortgage Trust, Ser 2021-SJ2, Cl A1A
2.250%, 12/25/2061(A)(E)		1,151		1,056
VASA Trust, Ser 2021-VASA, Cl B
6.357%, ICE LIBOR USD 1 Month + 1.250%, 07/15/2039(A)(E)		2,000		1,833
Velocity Commercial Capital Loan Trust, Ser 2020-1, Cl AFX
2.610%, 02/25/2050(A)(E)		684		602
Velocity Commercial Capital Loan Trust, Ser 2021-1, Cl A
1.400%, 05/25/2051(A)(E)		711		582
Verus Securitization Trust, Ser 2019-4, Cl A1
2.642%, 11/25/2059(E)(F)		21		20
Verus Securitization Trust, Ser 2019-INV3, Cl A1
2.692%, 11/25/2059(A)(E)		28		27
Verus Securitization Trust, Ser 2020-1, Cl A1
2.417%, 01/25/2060(E)(F)		12		11
Verus Securitization Trust, Ser 2020-4, Cl A1
1.502%, 05/25/2065(E)(F)		25		23
Verus Securitization Trust, Ser 2020-5, Cl A1
1.218%, 05/25/2065(E)(F)		626		566
Verus Securitization Trust, Ser 2021-1, Cl A2
1.052%, 01/25/2066(A)(E)		168		142
Verus Securitization Trust, Ser 2021-1, Cl A1
0.815%, 01/25/2066(A)(E)		819		698
Verus Securitization Trust, Ser 2021-2, Cl A1
1.031%, 02/25/2066(A)(E)		100		86
Verus Securitization Trust, Ser 2021-4, Cl A1
0.938%, 07/25/2066(A)(E)		133		105
Verus Securitization Trust, Ser 2021-4, Cl A2
1.247%, 07/25/2066(A)(E)		680		542
Verus Securitization Trust, Ser 2021-R1, Cl A1
0.820%, 10/25/2063(A)(E)		100		89
Verus Securitization Trust, Ser 2021-R2, Cl A1
0.918%, 02/25/2064(A)(E)		825		713


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Verus Securitization Trust, Ser 2021-R3, Cl A1
1.020%, 04/25/2064(A)(E)	$	82	$	72
Verus Securitization Trust, Ser 2022-5, Cl A1
3.800%, 04/25/2067(E)(F)		706		660
Verus Securitization Trust, Ser 2023-1, Cl A1
5.850%, 12/25/2067(E)(F)		963		962
Verus Securitization Trust, Ser 2023-3, Cl A1
5.930%, 03/25/2068(E)(F)		982		982
Visio Trust, Ser 2020-1R, Cl A2
1.567%, 11/25/2055(E)		408		368
Visio Trust, Ser 2021-1R, Cl A1
1.280%, 05/25/2056(E)		1,098		998
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR10, Cl A7
4.229%, 10/25/2033(A)		552		519
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR7, Cl A7
3.868%, 08/25/2033(A)		554		512
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR9, Cl 1A6
4.155%, 09/25/2033(A)		570		527
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR1, Cl A
4.281%, 03/25/2034(A)		1,081		1,059
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR11, Cl A
4.190%, 10/25/2034(A)		357		326
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR14, Cl A1
4.199%, 01/25/2035(A)		897		816
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR2, Cl A
5.143%, 12 Month Treas Avg + 1.400%, 04/25/2044(A)		1,252		1,204
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR9, Cl A7
3.939%, 08/25/2034(A)		1,397		1,322
WaMu Mortgage Pass-Through Certificates, Ser 2004-CB2, Cl 1A
5.000%, 07/25/2034		34		33
Wells Fargo Mortgage-Backed Securities Trust, Ser 2004-K, Cl 1A2
3.615%, 07/25/2034(A)		120		124
Wells Fargo Mortgage-Backed Securities Trust, Ser 2004-U, Cl A1
4.517%, 10/25/2034(A)		578		547


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
WMRK Commercial Mortgage Trust, Ser 2022-WMRK, Cl A
7.848%, TSFR1M + 2.789%, 11/15/2027(A)(E)	$	1,000	$	1,000


				161,326
Total Mortgage-Backed Securities
(Cost $175,566) ($ Thousands)				165,745



ASSET-BACKED SECURITIES — 24.7%
Automotive — 5.5%

American Credit Acceptance Receivables Trust, Ser 2021-3, Cl E
2.560%, 11/15/2027 (E)		1,000		913
American Credit Acceptance Receivables Trust, Ser 2022-2, Cl A
2.660%, 02/13/2026 (E)		116		115
American Credit Acceptance Receivables Trust, Ser 2023-1, Cl A
5.450%, 09/14/2026 (E)		93		93
American Credit Acceptance Receivables Trust, Ser 2023-2, Cl A
5.890%, 10/13/2026 (E)		75		75
AmeriCredit Automobile Receivables Trust, Ser 2019-3, Cl C
2.320%, 07/18/2025		96		95
AmeriCredit Automobile Receivables Trust, Ser 2020-1, Cl C
1.590%, 10/20/2025		475		465
AmeriCredit Automobile Receivables Trust, Ser 2020-2, Cl C
1.480%, 02/18/2026		550		529
AmeriCredit Automobile Receivables Trust, Ser 2020-3, Cl C
1.060%, 08/18/2026		300		283
AmeriCredit Automobile Receivables Trust, Ser 2021-1, Cl B
0.680%, 10/19/2026		200		192
Americredit Automobile Receivables Trust, Ser 2022-1, Cl A3
2.450%, 11/18/2026		275		265
Americredit Automobile Receivables Trust, Ser 2023-1, Cl A2A
5.840%, 10/19/2026		225		225
ARI Fleet Lease Trust, Ser 2019-A, Cl A3
2.530%, 11/15/2027 (E)		284		280
ARI Fleet Lease Trust, Ser 2021-A, Cl A2
0.370%, 03/15/2030 (E)		238		236
ARI Fleet Lease Trust, Ser 2022-A, Cl A2
3.120%, 01/15/2031 (E)		301		296


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Arivo Acceptance Auto Loan Receivables Trust, Ser 2021-1A, Cl A
1.190%, 01/15/2027 (E)	$	201	$	195
Avis Budget Rental Car Funding AESOP LLC, Ser 2020-2A, Cl A
2.020%, 02/20/2027 (E)		2,000		1,830
BMW Vehicle Owner Trust, Ser 2019-A, Cl A4
1.950%, 01/26/2026		99		98
Capital One Prime Auto Receivables Trust, Ser 2023-1, Cl A2
5.200%, 05/15/2026		95		95
Carmax Auto Owner Trust, Ser 2023-2, Cl A2A
5.500%, 06/15/2026		160		159
Carvana Auto Receivables Trust, Ser 2021-N1, Cl A
0.700%, 01/10/2028		92		87
Carvana Auto Receivables Trust, Ser 2021-N2, Cl B
0.750%, 03/10/2028		43		40
Carvana Auto Receivables Trust, Ser 2021-N3, Cl B
0.660%, 06/12/2028		119		108
Carvana Auto Receivables Trust, Ser 2021-P3, Cl A2
0.380%, 01/10/2025		5		5
CFMT LLC, Ser 2021-AL1, Cl B
1.390%, 09/22/2031 (E)		202		193
Chesapeake Funding II LLC, Ser 2023-1A, Cl A1
5.650%, 05/15/2035 (E)		210		209
CPS Auto Receivables Trust, Ser 2022-A, Cl A
0.980%, 04/16/2029 (E)		34		34
CPS Auto Receivables Trust, Ser 2023-B, Cl A
5.910%, 08/16/2027 (E)		224		224
Credit Acceptance Auto Loan Trust, Ser 2021-3A, Cl A
1.000%, 05/15/2030 (E)		250		243
DT Auto Owner Trust, Ser 2021-2A, Cl B
0.810%, 01/15/2027 (E)		84		83
DT Auto Owner Trust, Ser 2023-1A, Cl A
5.480%, 04/15/2027 (E)		146		145
DT Auto Owner Trust, Ser 2023-2A, Cl A
5.880%, 04/15/2027 (E)		169		169
Enterprise Fleet Financing LLC, Ser 2020-1, Cl A2
1.780%, 12/22/2025 (E)		2		2
Enterprise Fleet Financing LLC, Ser 2020-2, Cl A2
0.610%, 07/20/2026 (E)		177		174


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Enterprise Fleet Financing LLC, Ser 2023-1, Cl A1
5.330%, 03/20/2024 (E)	$	57	$	57
Enterprise Fleet Financing LLC, Ser 2023-2, Cl A1
5.793%, 06/20/2024 (E)		228		228
Enterprise Fleet Funding LLC, Ser 2021-1, Cl A2
0.440%, 12/21/2026 (E)		87		85
Exeter Automobile Receivables Trust, Ser 2021-2A, Cl D
1.400%, 04/15/2027		1,000		927
Exeter Automobile Receivables Trust, Ser 2022-4A, Cl A3
4.330%, 02/17/2026		250		249
Exeter Automobile Receivables Trust, Ser 2022-5A, Cl A2
5.290%, 01/15/2025		93		93
Exeter Automobile Receivables Trust, Ser 2022-6A, Cl A2
5.730%, 11/17/2025		214		213
Exeter Automobile Receivables Trust, Ser 2023-1A, Cl A2
5.610%, 06/16/2025		45		45
Exeter Automobile Receivables Trust, Ser 2023-2A, Cl A2
5.870%, 11/17/2025		115		115
Exeter Automobile Receivables Trust, Ser 2023-2A, Cl A3
5.600%, 08/17/2026		100		100
FHF Trust, Ser 2021-2A, Cl A
0.830%, 12/15/2026 (E)		72		68
First Investors Auto Owner Trust, Ser 2021-1A, Cl A
0.450%, 03/16/2026 (E)		36		36
First Investors Auto Owner Trust, Ser 2021-1A, Cl C
1.170%, 03/15/2027 (E)		610		578
Flagship Credit Auto Trust, Ser 2021-2, Cl A
0.370%, 12/15/2026 (E)		46		45
Flagship Credit Auto Trust, Ser 2021-2, Cl B
0.930%, 06/15/2027 (E)		215		207
Flagship Credit Auto Trust, Ser 2021-3, Cl A
0.360%, 07/15/2027 (E)		63		62
Flagship Credit Auto Trust, Ser 2023-2, Cl A2
5.760%, 04/15/2027 (E)		190		189
Ford Credit Auto Lease Trust, Ser 2021-B, Cl B
0.660%, 01/15/2025		150		145
Ford Credit Auto Owner Trust, Ser 2020-A, Cl B
2.050%, 09/15/2025		135		132


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Ford Credit Auto Owner Trust, Ser 2022-D, Cl A3
5.270%, 05/17/2027	$	2,000	$	2,006
Foursight Capital Automobile Receivables Trust, Ser 2021-2, Cl A3
0.810%, 05/15/2026 (E)		63		61
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl A2
1.150%, 09/15/2025 (E)		27		27
GLS Auto Receivables Issuer Trust, Ser 2021-1A, Cl D
1.680%, 01/15/2027 (E)		1,500		1,407
GLS Auto Receivables Issuer Trust, Ser 2021-2A, Cl B
0.770%, 09/15/2025 (E)		66		65
GLS Auto Receivables Issuer Trust, Ser 2023-1A, Cl A2
5.980%, 08/17/2026 (E)		125		125
GLS Auto Receivables Issuer Trust, Ser 2023-2A, Cl A2
5.700%, 01/15/2027 (E)		165		164
GM Financial Automobile Leasing Trust, Ser 2021-1, Cl C
0.700%, 02/20/2025		180		179
GM Financial Automobile Leasing Trust, Ser 2022-1, Cl A4
1.960%, 02/20/2026		100		96
GM Financial Automobile Leasing Trust, Ser 2022-2, Cl A2
2.930%, 10/21/2024		101		100
GM Financial Automobile Leasing Trust, Ser 2023-1, Cl A2A
5.270%, 06/20/2025		55		55
GM Financial Automobile Leasing Trust, Ser 2023-2, Cl A1
5.452%, 05/20/2024		115		115
GM Financial Automobile Leasing Trust, Ser 2023-2, Cl A2A
5.440%, 10/20/2025		575		574
GM Financial Consumer Automobile Receivables Trust, Ser 2023-2, Cl A1
5.186%, 04/16/2024		141		141
Hertz Vehicle Financing LLC, Ser 2021-1A, Cl B
1.560%, 12/26/2025 (E)		1,530		1,428
Honda Auto Receivables Owner Trust, Ser 2020-1, Cl A4
1.630%, 10/21/2026		300		299
Honda Auto Receivables Owner Trust, Ser 2023-2, Cl A2
5.410%, 04/15/2026		275		275


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Hyundai Auto Lease Securitization Trust, Ser 2021-B, Cl A3
0.330%, 06/17/2024 (E)	$	96	$	96
Hyundai Auto Lease Securitization Trust, Ser 2021-B, Cl A4
0.380%, 08/15/2025 (E)		100		98
Hyundai Auto Lease Securitization Trust, Ser 2021-C, Cl A4
0.480%, 09/15/2025 (E)		230		222
Hyundai Auto Lease Securitization Trust, Ser 2023-B, Cl A2A
5.470%, 09/15/2025 (E)		100		100
Hyundai Auto Receivables Trust, Ser 2020-B, Cl B
0.940%, 12/15/2025		125		119
Hyundai Auto Receivables Trust, Ser 2021-A, Cl A3
0.380%, 09/15/2025		473		460
JPMorgan Chase Bank - CACLN, Ser 2020-2, Cl B
0.840%, 02/25/2028 (E)		33		32
JPMorgan Chase Bank - CACLN, Ser 2021-2, Cl C
0.969%, 12/26/2028 (E)		302		290
JPMorgan Chase Bank - CACLN, Ser 2021-3, Cl D
1.009%, 02/26/2029 (E)		772		726
LAD Auto Receivables Trust, Ser 2021-1A, Cl A
1.300%, 08/17/2026 (E)		144		140
Lendbuzz Securitization Trust, Ser 2021-1A, Cl A
1.460%, 06/15/2026 (E)		190		182
Lendbuzz Securitization Trust, Ser 2023-1A, Cl A1
5.383%, 03/15/2024 (E)		50		50
Lendbuzz Securitization Trust, Ser 2023-2A, Cl A1
5.835%, 05/15/2024 (E)		130		130
Mercedes-Benz Auto Lease Trust, Ser 2023-A, Cl A2
5.240%, 11/17/2025		150		149
Nissan Auto Receivables Owner Trust, Ser 2023-A, Cl A2A
5.340%, 02/17/2026		105		105
Porsche Financial Auto Securitization Trust, Ser 2023-1A, Cl A1
5.365%, 05/22/2024 (E)		233		233
Santander Bank - SBCLN, Ser 2021-1A, Cl B
1.833%, 12/15/2031 (E)		231		223
Santander Bank Auto Credit-Linked Notes, Ser 2022-C, Cl B
6.451%, 12/15/2032 (E)		791		788


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Santander Drive Auto Receivables Trust, Ser 2020-1, Cl C
4.110%, 12/15/2025	$	177	$	176
Santander Drive Auto Receivables Trust, Ser 2020-4, Cl C
1.010%, 01/15/2026		200		199
Santander Drive Auto Receivables Trust, Ser 2021-3, Cl B
0.600%, 12/15/2025		14		14
Santander Drive Auto Receivables Trust, Ser 2021-3, Cl D
1.330%, 09/15/2027		1,425		1,330
Santander Drive Auto Receivables Trust, Ser 2022-5, Cl A3
4.110%, 08/17/2026		100		99
Santander Drive Auto Receivables Trust, Ser 2023-2, Cl A2
5.870%, 03/16/2026		1,650		1,648
Toyota Auto Receivables Owner Trust, Ser 2023-B, Cl A2A
5.280%, 05/15/2026		115		115
Toyota Lease Owner Trust, Ser 2023-A, Cl A1
5.388%, 04/22/2024 (E)		50		50
Tricolor Auto Securitization Trust, Ser 2022-1A, Cl A
3.300%, 02/18/2025 (E)		35		35
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl A
6.480%, 08/17/2026 (E)		89		89
United Auto Credit Securitization Trust, Ser 2023-1, Cl A
5.570%, 07/10/2025 (E)		62		62
Volkswagen Auto Loan Enhanced Trust, Ser 2021-1, Cl A3
1.020%, 06/22/2026		2,000		1,919
Westlake Automobile Receivables Trust, Ser 2021-1A, Cl B
0.640%, 03/16/2026 (E)		96		95
Westlake Automobile Receivables Trust, Ser 2021-2A, Cl A2A
0.320%, 04/15/2025 (E)		9		9
Westlake Automobile Receivables Trust, Ser 2021-2A, Cl B
0.620%, 07/15/2026 (E)		140		137
Westlake Automobile Receivables Trust, Ser 2023-2A, Cl A2A
5.870%, 07/15/2026 (E)		150		150
World Omni Auto Receivables Trust, Ser 2020-C, Cl A4
0.610%, 10/15/2026		136		128
World Omni Automobile Lease Securitization Trust, Ser 2023-A, Cl A2A
5.470%, 11/17/2025		125		125


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
World Omni Select Auto Trust, Ser 2023-A, Cl A2A
5.920%, 03/15/2027	$	150	$	150
				29,519

Mortgage Related Securities — 0.7%

Accredited Mortgage Loan Trust, Ser 2004-4, Cl A1A
5.059%, ICE LIBOR USD 1 Month + 0.680%, 01/25/2035 (A)		14		14
ACE Securities Home Equity Loan Trust, Ser 2005-SD1, Cl M2
7.013%, ICE LIBOR USD 1 Month + 1.875%, 11/25/2050 (A)		495		515
Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates, Ser 2004-3, Cl M1
6.038%, ICE LIBOR USD 1 Month + 0.900%, 09/25/2034 (A)		730		724
BRAVO Residential Funding Trust, Ser 2021-HE1, Cl A1
5.723%, SOFR30A + 0.750%, 01/25/2070 (A)(E)		1,628		1,613
BRAVO Residential Funding Trust, Ser 2021-HE2, Cl A3
6.023%, SOFR30A + 1.050%, 11/25/2069 (A)(E)		960		941
				3,807

Other Asset-Backed Securities — 18.5%

Affirm Asset Securitization Trust, Ser 2020-Z1, Cl A
3.460%, 10/15/2024 (E)		6		6
Affirm Asset Securitization Trust, Ser 2020-Z2, Cl A
1.900%, 01/15/2025 (E)		19		19
Affirm Asset Securitization Trust, Ser 2021-B, Cl A
1.030%, 08/17/2026 (E)		260		251
Affirm Asset Securitization Trust, Ser 2021-Z1, Cl A
1.070%, 08/15/2025 (E)		64		62
Affirm Asset Securitization Trust, Ser 2021-Z2, Cl A
1.170%, 11/16/2026 (E)		65		63
Affirm Asset Securitization Trust, Ser 2022-X1, Cl A
1.750%, 02/15/2027 (E)		63		62
Aligned Data Centers Issuer LLC, Ser 2021-1A, Cl A2
1.937%, 08/15/2046 (E)		700		617


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Allegro CLO V, Ser 2021-1A, Cl AR
6.210%, ICE LIBOR USD 3 Month + 0.950%, 10/16/2030 (A)(E)	$	947	$	929
Allegro CLO VII, Ser 2018-1A, Cl D
8.110%, ICE LIBOR USD 3 Month + 2.850%, 06/13/2031 (A)(E)		400		360
AMMC CLO XI, Ser 2018-11A, Cl BR2
6.899%, ICE LIBOR USD 3 Month + 1.600%, 04/30/2031 (A)(E)		1,000		975
AMMC CLO XI, Ser 2018-11A, Cl CR2
7.199%, ICE LIBOR USD 3 Month + 1.900%, 04/30/2031 (A)(E)		700		660
Amur Equipment Finance Receivables IX LLC, Ser 2021-1A, Cl A2
0.750%, 11/20/2026 (E)		100		97
Amur Equipment Finance Receivables VIII LLC, Ser 2020-1A, Cl B
2.500%, 03/20/2026 (E)		30		30
Anchorage Capital CLO, Ser 2018-5RA, Cl A
6.250%, ICE LIBOR USD 3 Month + 0.990%, 01/15/2030 (A)(E)		969		962
Apidos CLO XII, Ser 2018-12A, Cl AR
6.340%, ICE LIBOR USD 3 Month + 1.080%, 04/15/2031 (A)(E)		725		716
Apidos CLO XV, Ser 2018-15A, Cl A1RR
6.260%, ICE LIBOR USD 3 Month + 1.010%, 04/20/2031 (A)(E)		410		405
Apidos CLO XVIII, Ser 2018-18A, Cl A1
6.413%, ICE LIBOR USD 3 Month + 1.140%, 10/22/2030 (A)(E)		750		742
Aqua Finance Trust, Ser 2021-A, Cl A
1.540%, 07/17/2046 (E)		111		99
Ares XXXIIR CLO, Ser 2018-32RA, Cl A1B
6.521%, ICE LIBOR USD 3 Month + 1.200%, 05/15/2030 (A)(E)		725		702
Atalaya Equipment Leasing Trust, Ser 2021-1A, Cl A2
1.230%, 05/15/2026 (E)		68		66
Atrium XIII, Ser 2017-13A, Cl B
6.773%, ICE LIBOR USD 3 Month + 1.500%, 11/21/2030 (A)(E)		700		680
Avant Loans Funding Trust, Ser 2021-REV1, Cl A
1.210%, 07/15/2030 (E)		195		191
Bain Capital Credit CLO, Ser 2018-1A, Cl A1
6.233%, ICE LIBOR USD 3 Month + 0.960%, 04/23/2031 (A)(E)		450		445
Ballyrock CLO, Ser 2018-1A, Cl A1
6.250%, ICE LIBOR USD 3 Month + 1.000%, 04/20/2031 (A)(E)		735		728
Beacon Container Finance II LLC, Ser 2021-1A, Cl A
2.250%, 10/22/2046 (E)		673		586


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Benefit Street Partners CLO XII, Ser 2021-12A, Cl A1R
6.210%, ICE LIBOR USD 3 Month + 0.950%, 10/15/2030 (A)(E)	$	401	$	396
BHG Securitization Trust, Ser 2022-A, Cl A
1.710%, 02/20/2035 (E)		227		217
BHG Securitization Trust, Ser 2022-B, Cl A
3.750%, 06/18/2035 (E)		161		158
BlueMountain CLO XXIII, Ser 2018-23A, Cl C
7.400%, ICE LIBOR USD 3 Month + 2.150%, 10/20/2031 (A)(E)		800		767
BlueMountain Fuji US CLO II, Ser 2017-2A, Cl C
8.250%, ICE LIBOR USD 3 Month + 3.000%, 10/20/2030 (A)(E)		400		340
BRE Grand Islander Timeshare Issuer LLC, Ser 2017-1A, Cl A
2.940%, 05/25/2029 (E)		1,455		1,412
BRE Grand Islander Timeshare Issuer LLC, Ser 2019-A, Cl A
3.280%, 09/26/2033 (E)		685		648
BSPRT Issuer, Ser 2022-FL8, Cl A
6.372%, SOFR30A + 1.500%, 02/15/2037 (A)(E)		275		269
Carlyle Global Market Strategies CLO, Ser 2018-2RA, Cl A2
6.646%, ICE LIBOR USD 3 Month + 1.325%, 05/15/2031 (A)(E)		1,000		979
Carlyle Global Market Strategies CLO, Ser 2021-1A, Cl AR3
6.230%, ICE LIBOR USD 3 Month + 0.980%, 07/20/2031 (A)(E)		296		292
Carlyle US CLO, Ser 2021-2A, Cl A1R
6.300%, ICE LIBOR USD 3 Month + 1.050%, 07/20/2031 (A)(E)		1,450		1,433
Carlyle US CLO, Ser 2021-3A, Cl BR
7.250%, ICE LIBOR USD 3 Month + 2.000%, 07/20/2029 (A)(E)		500		475
CARS-DB4 LP, Ser 2020-1A, Cl B1
4.170%, 02/15/2050 (E)		400		373
Catskill Park CLO, Ser 2017-1A, Cl A1B
6.600%, ICE LIBOR USD 3 Month + 1.350%, 04/20/2029 (A)(E)		1,000		983
CCG Receivables Trust, Ser 2021-1, Cl A2
0.300%, 06/14/2027 (E)		24		23
Cedar Funding X CLO, Ser 2021-10A, Cl CR
7.300%, ICE LIBOR USD 3 Month + 2.050%, 10/20/2032 (A)(E)		450		433
CIFC Funding, Ser 2017-5A, Cl B
7.110%, ICE LIBOR USD 3 Month + 1.850%, 11/16/2030 (A)(E)		500		478


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
CIFC Funding, Ser 2018-3A, Cl AR
6.135%, ICE LIBOR USD 3 Month + 0.870%, 04/19/2029 (A)(E)	$	747	$	739
CIFC Funding, Ser 2018-4A, Cl A1
6.410%, ICE LIBOR USD 3 Month + 1.150%, 10/17/2031 (A)(E)		700		688
CIFC Funding, Ser 2021-1A, Cl AR
6.350%, ICE LIBOR USD 3 Month + 1.100%, 04/20/2032 (A)(E)		1,000		986
CNH Equipment Trust, Ser 2020-A, Cl A4
1.510%, 04/15/2027		200		194
CNH Equipment Trust, Ser 2023-A, Cl A2
5.340%, 09/15/2026		70		70
Crown City CLO IV, Ser 2022-4A, Cl D
12.949%, TSFR3M + 7.900%, 10/20/2033 (A)(E)		500		471
DB Master Finance LLC, Ser 2019-1A, Cl A2II
4.021%, 05/20/2049 (E)		361		340
Dell Equipment Finance Trust, Ser 2021-2, Cl A3
0.530%, 12/22/2026 (E)		150		146
Dell Equipment Finance Trust, Ser 2023-1, Cl A2
5.650%, 09/22/2028 (E)		1,490		1,485
Denali Capital CLO XI, Ser 2018-1A, Cl A2RR
6.900%, ICE LIBOR USD 3 Month + 1.650%, 10/20/2028 (A)(E)		1,000		995
Dext ABS LLC, Ser 2021-1, Cl A
1.120%, 02/15/2028 (E)		76		73
Diamond Infrastructure Funding LLC, Ser 2021-1A, Cl C
3.475%, 04/15/2049 (E)		400		349
DLLAD LLC, Ser 2021-1A, Cl A3
0.640%, 09/21/2026 (E)		300		283
DLLAD LLC, Ser 2023-1A, Cl A2
5.190%, 04/20/2026 (E)		50		50
DLLMT LLC, Ser 2023-1A, Cl A1
5.533%, 05/20/2024 (E)		178		178
DLLMT LLC, Ser 2023-1A, Cl A2
5.780%, 11/20/2025 (E)		95		95
DLLST LLC, Ser 2022-1A, Cl A3
3.400%, 01/21/2025 (E)		125		123
Domino's Pizza Master Issuer LLC, Ser 2017-1A, Cl A23
4.118%, 07/25/2047 (E)		1,161		1,087
DRIVEN BRANDS FUNDING LLC, Ser 2019-1A, Cl A2
4.641%, 04/20/2049 (E)		958		901
ECMC Group Student Loan Trust, Ser 2020-3A, Cl A1B
6.138%, ICE LIBOR USD 1 Month + 1.000%, 01/27/2070 (A)(E)		592		577


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Elara HGV Timeshare Issuer LLC, Ser 2017-A, Cl A
2.690%, 03/25/2030 (E)	$	305	$	295
Elara HGV Timeshare Issuer LLC, Ser 2019-A, Cl A
2.610%, 01/25/2034 (E)		913		851
Elevation CLO, Ser 2017-2A, Cl A1R
6.478%, TSFR3M + 1.492%, 10/15/2029 (A)(E)		587		583
ExteNet LLC, Ser 2019-1A, Cl A2
3.204%, 07/26/2049 (E)		2,000		1,910
FCI Funding LLC, Ser 2021-1A, Cl A
1.130%, 04/15/2033 (E)		29		27
Five Guys Funding LLC, Ser 2017-1A, Cl A2
4.600%, 07/25/2047 (E)		761		741
FNA VII LLC, Ser 2023-1A, Cl A1
6.900%, 04/15/2038 (E)(F)		1,000		993
Global SC Finance II SRL, Ser 2014-1A, Cl A2
3.090%, 07/17/2029 (E)		265		258
Goldentree Loan Management US CLO 2, Ser 2021-2A, Cl AR
6.160%, ICE LIBOR USD 3 Month + 0.910%, 11/20/2030 (A)(E)		275		272
GreatAmerica Leasing Receivables, Ser 2023-1, Cl A1
5.519%, 06/14/2024 (E)		155		155
GreatAmerica Leasing Receivables, Ser 2023-1, Cl A2
5.350%, 02/16/2026 (E)		1,100		1,096
Hilton Grand Vacations Trust, Ser 2017-AA, Cl A
2.660%, 12/26/2028 (E)		313		308
Hilton Grand Vacations Trust, Ser 2022-1D, Cl B
4.100%, 06/20/2034 (E)		1,015		963
HPEFS Equipment Trust, Ser 2021-2A, Cl B
0.610%, 09/20/2028 (E)		445		435
Invitation Homes Trust, Ser 2018-SFR4, Cl C
6.508%, ICE LIBOR USD 1 Month + 1.400%, 01/17/2038 (A)(E)		2,000		1,983
ITE Rail Fund Levered, Ser 2021-1A, Cl A
2.250%, 02/28/2051 (E)		546		468
Kentucky Higher Education Student Loan, Ser 2020-1, Cl A1B
6.070%, ICE LIBOR USD 1 Month + 1.050%, 11/25/2050 (A)		1,362		1,373
Kentucky Higher Education Student Loan, Ser 2021-1, Cl A1B
5.918%, ICE LIBOR USD 1 Month + 0.780%, 03/25/2051 (A)		2,469		2,469
KKR CLO 12, Ser 2018-12, Cl AR2A
6.395%, ICE LIBOR USD 3 Month + 1.135%, 10/15/2030 (A)(E)		456		452


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
KKR CLO 20, Ser 2017-20, Cl B
6.810%, ICE LIBOR USD 3 Month + 1.550%, 10/16/2030 (A)(E)	$	636	$	623
KKR CLO 21, Ser 2018-21, Cl A
6.260%, ICE LIBOR USD 3 Month + 1.000%, 04/15/2031 (A)(E)		580		574
LCM XXIV, Ser 2021-24A, Cl AR
6.230%, ICE LIBOR USD 3 Month + 0.980%, 03/20/2030 (A)(E)		244		242
Madison Park Funding XIX, Ser 2020-19A, Cl A2R2
6.773%, ICE LIBOR USD 3 Month + 1.500%, 01/22/2028 (A)(E)		600		592
Madison Park Funding XLI, Ser 2017-12A, Cl DR
8.073%, ICE LIBOR USD 3 Month + 2.800%, 04/22/2027 (A)(E)		500		485
Madison Park Funding XVII, Ser 2021-17A, Cl AR2
6.261%, ICE LIBOR USD 3 Month + 1.000%, 07/21/2030 (A)(E)		243		241
Magnetite XVIII, Ser 2018-18A, Cl BR
6.821%, ICE LIBOR USD 3 Month + 1.500%, 11/15/2028 (A)(E)		1,000		977
Marlette Funding Trust, Ser 2021-3A, Cl A
0.650%, 12/15/2031 (E)		9		9
Marlette Funding Trust, Ser 2022-1A, Cl A
1.360%, 04/15/2032 (E)		79		79
Marlette Funding Trust, Ser 2023-2A, Cl A
6.040%, 06/15/2033 (E)		200		199
MetroNet Infrastructure Issuer LLC, Ser 2022-1A, Cl B
7.460%, 10/20/2052 (E)		400		386
MF1, Ser 2022-FL8, Cl A
6.273%, SOFR30A + 1.350%, 02/19/2037 (A)(E)		250		244
Missouri Higher Education Loan Authority, Ser 2021-1, Cl A1B
5.770%, ICE LIBOR USD 1 Month + 0.750%, 01/25/2061 (A)		775		765
Missouri Higher Education Loan Authority, Ser 2021-2, Cl A1B
5.720%, ICE LIBOR USD 1 Month + 0.700%, 03/25/2061 (A)		2,394		2,353
Mountain View CLO LLC, Ser 2020-1A, Cl AR
6.350%, ICE LIBOR USD 3 Month + 1.090%, 10/16/2029 (A)(E)		744		735
Navient Private Education Loan Trust, Ser 2015-AA, Cl A2A
2.650%, 12/15/2028 (E)		140		140
Navient Private Education Loan Trust, Ser 2017-A, Cl A2A
2.880%, 12/16/2058 (E)		113		111


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Navient Private Education Loan Trust, Ser 2020-IA, Cl A1B
6.107%, ICE LIBOR USD 1 Month + 1.000%, 04/15/2069 (A)(E)	$	1,061	$	1,042
Navient Private Education Refi Loan Trust, Ser 2019-FA, Cl A2
2.600%, 08/15/2068 (E)		369		341
Navient Private Education Refi Loan Trust, Ser 2020-HA, Cl A
1.310%, 01/15/2069 (E)		659		601
Navient Student Loan Trust, Ser 2021-1A, Cl A1B
5.738%, ICE LIBOR USD 1 Month + 0.600%, 12/26/2069 (A)(E)		1,046		1,020
Navient Student Loan Trust, Ser 2021-2A, Cl A1B
5.688%, ICE LIBOR USD 1 Month + 0.550%, 02/25/2070 (A)(E)		1,489		1,441
Neuberger Berman Loan Advisers CLO 25, Ser 2021-25A, Cl AR
6.192%, ICE LIBOR USD 3 Month + 0.930%, 10/18/2029 (A)(E)		578		569
Neuberger Berman Loan Advisers CLO 26, Ser 2021-26A, Cl AR
6.182%, ICE LIBOR USD 3 Month + 0.920%, 10/18/2030 (A)(E)		394		389
Neuberger Berman Loan Advisers CLO 31, Ser 2021-31A, Cl AR
6.290%, ICE LIBOR USD 3 Month + 1.040%, 04/20/2031 (A)(E)		1,000		983
New Hampshire Higher Education Loan, Ser 2020-1, Cl A1B
6.338%, ICE LIBOR USD 1 Month + 1.200%, 09/25/2060 (A)		652		644
Nyctl Trust, Ser 2022-A, Cl A
2.100%, 11/10/2034 (E)		122		117
Oxford Finance Funding LLC, Ser 2019-1A, Cl A2
4.459%, 02/15/2027 (E)		148		147
Oxford Finance Funding LLC, Ser 2020-1A, Cl A2
3.101%, 02/15/2028 (E)		547		542
Palmer Square CLO, Ser 2022-3A, Cl A1
6.849%, TSFR3M + 1.800%, 07/20/2035 (A)(E)		1,450		1,438
Palmer Square Loan Funding, Ser 2021-3A, Cl A1
6.050%, ICE LIBOR USD 3 Month + 0.800%, 07/20/2029 (A)(E)		156		154
Palmer Square Loan Funding, Ser 2021-4A, Cl A1
6.060%, ICE LIBOR USD 3 Month + 0.800%, 10/15/2029 (A)(E)		453		447


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
PFS Financing, Ser 2020-E, Cl A
1.000%, 10/15/2025 (E)	$	1,000	$	981
PFS Financing, Ser 2021-A, Cl A
0.710%, 04/15/2026 (E)		300		286
PFS Financing, Ser 2021-B, Cl A
0.770%, 08/15/2026 (E)		1,000		940
PFS Financing, Ser 2022-C, Cl A
3.890%, 05/15/2027 (E)		1,060		1,028
Prodigy Finance DAC, Ser 2021-1A, Cl A
6.388%, ICE LIBOR USD 1 Month + 1.250%, 07/25/2051 (A)(E)		922		909
ReadyCap Lending Small Business Loan Trust, Ser 2019-2, Cl A
7.750%, Prime Rate + -0.500%, 12/27/2044 (A)(E)		303		290
Saratoga Investment Senior Loan Fund, Ser 2022-1A, Cl D
11.659%, TSFR3M + 6.610%, 10/20/2033 (A)(E)		300		285
SCF Equipment Leasing LLC, Ser 2022-1A, Cl A2
2.060%, 02/22/2028 (E)		173		169
SMB Private Education Loan Trust, Ser 2018-C, Cl A2B
5.857%, ICE LIBOR USD 1 Month + 0.750%, 11/15/2035 (A)(E)		1,312		1,295
SMB Private Education Loan Trust, Ser 2019-B, Cl A2B
6.107%, ICE LIBOR USD 1 Month + 1.000%, 06/15/2037 (A)(E)		755		745
SMB Private Education Loan Trust, Ser 2020-PTA, Cl A2B
5.988%, ICE LIBOR USD 1 Month + 0.850%, 09/15/2054 (A)(E)		2,040		2,003
SMB Private Education Loan Trust, Ser 2020-PTB, Cl A2B
5.988%, ICE LIBOR USD 1 Month + 0.850%, 09/15/2054 (A)(E)		1,964		1,925
SMB Private Education Loan Trust, Ser 2021-A, Cl A2A2
5.837%, ICE LIBOR USD 1 Month + 0.730%, 01/15/2053 (A)(E)		1,914		1,865
SoFi Consumer Loan Program Trust, Ser 2021-1, Cl A
0.490%, 09/25/2030 (E)		15		15
Sound Point CLO XXIII, Ser 2021-2A, Cl X
5.492%, ICE LIBOR USD 3 Month + 0.700%, 07/15/2034 (A)(E)		480		479
STAR Trust, Ser 2021-SFR1, Cl C
6.232%, TSFR1M + 1.164%, 04/17/2038 (A)(E)		1,000		971


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
STAR Trust, Ser 2021-SFR1, Cl D
6.482%, TSFR1M + 1.414%, 04/17/2038 (A)(E)	$	1,000	$	962
STAR Trust, Ser 2021-SFR2, Cl C
6.708%, ICE LIBOR USD 1 Month + 1.600%, 01/17/2024 (A)(E)		3,000		2,935
Structured Asset Investment Loan Trust, Ser 2004-8, Cl A8
6.138%, ICE LIBOR USD 1 Month + 1.000%, 09/25/2034 (A)		2,286		2,221
Structured Asset Investment Loan Trust, Ser 2004-BNC1, Cl A4
5.960%, ICE LIBOR USD 1 Month + 0.940%, 09/25/2034 (A)		732		702
Symphony Static CLO I, Ser 2021-1A, Cl A
6.085%, ICE LIBOR USD 3 Month + 0.830%, 10/25/2029 (A)(E)		1,152		1,136
TAL Advantage VII LLC, Ser 2020-1A, Cl A
2.050%, 09/20/2045 (E)		720		639
TCI-Flatiron CLO, Ser 2017-1A, Cl B
6.890%, ICE LIBOR USD 3 Month + 1.560%, 11/18/2030 (A)(E)		500		487
TIAA CLO I, Ser 2018-1A, Cl AR
6.450%, ICE LIBOR USD 3 Month + 1.200%, 07/20/2031 (A)(E)		2,000		1,974
TICP CLO IX, Ser 2018-9A, Cl A
6.390%, ICE LIBOR USD 3 Month + 1.140%, 01/20/2031 (A)(E)		722		715
TIF Funding II LLC, Ser 2021-1A, Cl A
1.650%, 02/20/2046 (E)		818		691
Towd Point HE Trust, Ser 2021-HE1, Cl A1
0.918%, 02/25/2063 (A)(E)		794		742
Tricon American Homes Trust, Ser 2017-SFR2, Cl E
4.216%, 01/17/2036 (E)		1,500		1,471
Trimaran Cavu, Ser 2019-1A, Cl D
9.400%, ICE LIBOR USD 3 Month + 4.150%, 07/20/2032 (A)(E)		600		548
Trinity Rail Leasing LLC, Ser 2021-1A, Cl A
2.260%, 07/19/2051 (E)		464		397
Upstart Securitization Trust, Ser 2021-2, Cl A
0.910%, 06/20/2031 (E)		17		17
Upstart Securitization Trust, Ser 2021-4, Cl A
0.840%, 09/20/2031 (E)		88		86
Verizon Owner Trust, Ser 2020-C, Cl B
0.670%, 04/21/2025		750		727
Vibrant CLO VI, Ser 2021-6A, Cl AR
5.913%, ICE LIBOR USD 3 Month + 0.950%, 06/20/2029 (A)(E)		128		126


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Voya CLO, Ser 2018-3A, Cl A2R
6.662%, ICE LIBOR USD 3 Month + 1.400%, 10/18/2031 (A)(E)	$	818	$	802
Voya CLO, Ser 2020-2A, Cl A1RR
6.280%, ICE LIBOR USD 3 Month + 1.020%, 04/17/2030 (A)(E)		250		246
VSE VOI Mortgage LLC, Ser 2017-A, Cl A
2.330%, 03/20/2035 (E)		382		370
Westgate Resorts LLC, Ser 2020-1A, Cl A
2.713%, 03/20/2034 (E)		543		529
Westgate Resorts LLC, Ser 2023-1A, Cl B
6.440%, 12/20/2037 (E)		1,000		996
Wingstop Funding LLC, Ser 2020-1A, Cl A2
2.841%, 12/05/2050 (E)		691		601
				98,527

Total Asset-Backed Securities
(Cost $133,292) ($ Thousands)				131,853


CORPORATE OBLIGATIONS — 4.1%
Communication Services — 0.0%
Warnermedia Holdings
6.703%, SOFRINDX + 1.780%, 03/15/2024 (A)		165		165



Consumer Discretionary — 0.7%
Caesars Resort Collection LLC
5.750%, 07/01/2025 (E)		400		402
Ford Motor Credit LLC
6.950%, 03/06/2026		800		802
General Motors Financial
5.660%, U.S. SOFR + 0.620%, 10/15/2024 (A)		600		595
LBM Acquisition LLC
6.250%, 01/15/2029 (E)		1,358		1,075
Nordstrom
2.300%, 04/08/2024		160		153
Specialty Building Products Holdings LLC
6.375%, 09/30/2026 (E)		825		745

				3,772

Consumer Staples — 0.1%
Chobani LLC
7.500%, 04/15/2025 (E)		700		695



Energy — 0.1%
Enbridge
5.738%, SOFRINDX + 0.630%, 02/16/2024 (A)		250		249


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Ovintiv
5.650%, 05/15/2025	$	175	$	175

				424

Financials — 1.4%
American Tower Trust #1
3.652%, 03/23/2028 (E)		315		294
Athene Global Funding
5.810%, SOFRINDX + 0.700%, 05/24/2024 (A)(E)		450		445
Bank of America MTN
5.765%, U.S. SOFR + 0.660%, 02/04/2025 (A)		195		194
Bank of Montreal MTN
0.400%, 09/15/2023		275		271
Blackstone Private Credit Fund
2.350%, 11/22/2024		235		219
Brighthouse Financial Global Funding MTN
5.791%, U.S. SOFR + 0.760%, 04/12/2024 (A)(E)		315		312
Capital One Financial
5.802%, U.S. SOFR + 0.690%, 12/06/2024 (A)		275		269
Citigroup
5.754%, U.S. SOFR + 0.669%, 05/01/2025 (A)		300		299
Deutsche Bank NY
6.327%, U.S. SOFR + 1.219%, 11/16/2027 (A)		325		297
5.605%, U.S. SOFR + 0.500%, 11/08/2023 (A)		400		398
0.962%, 11/08/2023		225		219
HSBC Holdings PLC
5.688%, U.S. SOFR + 0.580%, 11/22/2024 (A)		275		272
JPMorgan Chase
5.947%, U.S. SOFR + 0.885%, 04/22/2027 (A)		475		472
Macquarie Group MTN
5.747%, U.S. SOFR + 0.710%, 10/14/2025 (A)(E)		300		297
Midcap Financial Issuer Trust
5.625%, 01/15/2030 (E)		350		275
NatWest Markets
5.636%, U.S. SOFR + 0.530%, 08/12/2024 (A)(E)		340		338
SBA Tower Trust
6.599%, 01/15/2028 (E)		1,000		1,035
SBA Tower Trust, Ser 2014-2A, Cl C
3.869%, 10/08/2024 (E)		385		374
Societe Generale
6.109%, U.S. SOFR + 1.050%, 01/21/2026 (A)(E)		275		273


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Toronto-Dominion Bank MTN
5.484%, U.S. SOFR + 0.590%, 09/10/2026 (A)	$	300	$	295
5.467%, U.S. SOFR + 0.355%, 03/04/2024 (A)		150		149
United Wholesale Mortgage LLC
5.500%, 11/15/2025 (E)		350		328
Wells Fargo MTN
1.654%, U.S. SOFR + 1.600%, 06/02/2024 (A)		188		188

				7,513

Health Care — 0.1%
Baxter International
5.551%, SOFRINDX + 0.440%, 11/29/2024 (A)		275		272
Global Medical Response
6.500%, 10/01/2025 (E)		462		312
Syneos Health
3.625%, 01/15/2029 (E)		70		68

				652

Industrials — 0.8%
Allegiant Travel
7.250%, 08/15/2027 (E)		922		915
Boeing
1.950%, 02/01/2024		250		244
Chart Industries
9.500%, 01/01/2031 (E)		435		455
7.500%, 01/01/2030 (E)		448		453
CP Atlas Buyer
7.000%, 12/01/2028 (E)		710		520
DAE Funding LLC MTN
1.550%, 08/01/2024 (E)		205		194
Emerald Debt Merger Sub LLC
6.625%, 12/15/2030 (E)		300		298
Trident TPI Holdings
12.750%, 12/31/2028 (E)		675		690
XPO
7.125%, 06/01/2031 (E)		187		185
6.250%, 06/01/2028 (E)		187		184

				4,138

Information Technology — 0.0%
Cloud Software Group
6.500%, 03/31/2029 (E)		54		48



Materials — 0.4%
Chemours
4.625%, 11/15/2029 (E)		1,100		890
Kobe US Midco 2
9.250%cash/0% PIK, 11/01/2026 (E)		816		563


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Tronox
4.625%, 03/15/2029 (E)	$	550	$	447
Vulcan Materials
5.800%, 03/01/2026		150		150

				2,050

Real Estate — 0.2%
VICI Properties
4.625%, 06/15/2025 (E)		1,000		965



Utilities — 0.3%
American Electric Power
5.699%, 08/15/2025		151		149
Mississippi Power
5.288%, U.S. SOFR + 0.300%, 06/28/2024 (A)		195		194
Monongahela Power
4.100%, 04/15/2024 (E)		120		117
NextEra Energy Capital Holdings
6.051%, 03/01/2025		60		61
Pacific Gas and Electric
3.250%, 06/15/2023		200		200
3.250%, 02/16/2024		200		196
1.700%, 11/15/2023		125		122
Vistra Operations LLC
5.000%, 07/31/2027 (E)		370		348

				1,387

Total Corporate Obligations
(Cost $23,195) ($ Thousands)				21,809



U.S. TREASURY OBLIGATIONS — 0.8%
U.S. Treasury Bills
5.776%, 06/27/2023 (H)		2,000		1,993
5.208%, 08/10/2023 (H)		550		544
5.014%, 11/09/2023 (H)		531		518
U.S. Treasury Notes
2.375%, 02/29/2024 (J)		1,250		1,224

Total U.S. Treasury Obligations
(Cost $4,285) ($ Thousands)				4,279



U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.7%
FHLB
5.310%, 05/22/2024		1,430		1,423
5.000%, 11/09/2023		185		185
4.875%, 11/07/2023		15		15


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
FHLB DN
4.864%, 08/02/2023(H)	$	1,200	$	1,190
4.814%, 07/21/2023(H)		684		679
4.805%, 07/14/2023(H)		134		133



Total U.S. Government Agency Obligations
(Cost $3,633) ($ Thousands)				3,625



COMMERCIAL PAPER — 0.1%
Commercial Paper — 0.1%
Societe Generale
5.433%, 01/18/2024 (H)		300		289



Total Commercial Paper
(Cost $290) ($ Thousands)				289


	Shares
CASH EQUIVALENT — 6.3%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		33,741,079		33,741

Total Cash Equivalent
(Cost $33,741) ($ Thousands)				33,741


	Face Amount (Thousands)
REPURCHASE AGREEMENT — 1.3%
BNP Paribas
5.050%, dated 05/31/2023 to be repurchased on 06/01/2023, repurchase price $7,100,996 (collateralized by U.S. Government and Treasury obligations, ranging in par value $1,000 - $5,768,200, 0.000% - 6.500%, 06/15/2023 – 12/01/2052; with total market value $7,240,841) (I)	$	7,100		7,100
Total Repurchase Agreement
(Cost $7,100) ($ Thousands)				7,100


Total Investments in Securities — 103.5%
(Cost $571,262) ($ Thousands)			$	551,712

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $532,975 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(B)	Unsettled bank loan. Interest rate may not be available.
(C)	Level 3 security in accordance with fair value hierarchy.
(D)	Security is in default on interest payment.
(E)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $250,448 ($ Thousands), representing 47.0% of the Net Assets of the Fund.
(F)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(G)	No interest rate available.
(H)	Interest rate represents the security's effective yield at the time of purchase.
(I)	Tri-Party Repurchase Agreement.
(J)	Security, or portion thereof, has been pledged as collateral on Futures contracts. The total market value of such securities as of May 31, 2023 was $118 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):
Investments in Securities	Level 1 ($)		Level 2 ($)		Level 3 ($)		Total ($)
Loan Participations		–		175,415		7,856		183,271
Mortgage-Backed Securities		–		165,745		–		165,745
Asset-Backed Securities		–		131,853		–		131,853
Corporate Obligations		–		21,809		–		21,809
U.S. Treasury Obligations		–		4,279		–		4,279
U.S. Government Agency Obligations		–		3,625		–		3,625
Commercial Paper		–		289		–		289
Cash Equivalent		33,741		–		–		33,741
Repurchase Agreement		–		7,100		–		7,100
Total Investments in Securities		33,741		510,115		7,856		551,712

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

–

Unrealized Depreciation

)

–

)

Total Other Financial Instruments

–

*	Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value ($ Thousands):

	Investments in Loan Participations
Balance as of May 31, 2022	$	28,430
Accrued discounts/premiums		(18	)
Realized gain/(loss)		(261	)
Change in unrealized appreciation/(depreciation)		367
Purchases		575
Sales		(10,341	)
Net transfer into Level 3		2,537
Net transfer out of Level 3		(13,433	)
Ending Balance as of May 31, 2023⁽¹⁾	$	7,856
Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date	$	63

(1) Of the $7,856 ($ Thousands) in Level 3 securities as of May 31, 2023, $— ($ Thousands) or 0.0% of the Net Assets of the Fund are not valued via third party pricing vendors and broker quotes. If significant, the disclosure of the unobservable inputs and the interrelationships and sensitivity between these inputs are required for those Level 3 securities that are not valued by third party pricing vendors or broker quotes.

For the year ended May 31, 2023, transfers in or out of Level 3 were due to the availability or lack of availability of observable inputs to determine fair value.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES — 42.2%
Agency Mortgage-Backed Obligations — 35.6%
FHLMC
7.500%, 08/01/2030 to 12/01/2036	$	157	$	162
7.000%, 05/01/2024 to 03/01/2039		46		48
6.500%, 10/01/2031 to 05/01/2053		6,583		6,755
6.000%, 01/01/2028 to 06/01/2053		24,045		24,409
5.500%, 02/01/2035 to 05/01/2053		15,867		15,933
5.000%, 08/01/2033 to 04/01/2053		18,987		18,760
4.500%, 11/01/2025 to 12/01/2052		17,200		16,896
4.000%, 09/01/2032 to 02/01/2053		22,060		21,306
3.500%, 03/01/2033 to 06/01/2052		54,999		51,625
3.000%, 03/01/2031 to 04/01/2052		68,748		62,084
2.500%, 10/01/2031 to 05/01/2052		147,451		127,775
2.000%, 06/01/2040 to 05/01/2052		144,130		121,529
1.500%, 11/01/2040 to 05/01/2051		36,852		29,127
FHLMC ARM
7.040%, ICE LIBOR USD 12 Month + 1.650%, 03/01/2043(A)		190		192
6.282%, ICE LIBOR USD 12 Month + 1.686%, 02/01/2043(A)		313		317
5.516%, ICE LIBOR USD 12 Month + 2.330%, 05/01/2036(A)		26		26
5.497%, ICE LIBOR USD 12 Month + 1.770%, 09/01/2042(A)		193		197
4.796%, ICE LIBOR USD 12 Month + 1.689%, 09/01/2047(A)		1,205		1,223
4.468%, ICE LIBOR USD 12 Month + 1.636%, 04/01/2048(A)		2,463		2,463


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
4.346%, ICE LIBOR USD 12 Month + 1.637%, 09/01/2045(A)	$	2,070	$	2,110
4.299%, SOFR30A + 2.130%, 07/01/2052(A)		1,212		1,172
4.210%, SOFR30A + 2.303%, 05/01/2053(A)		3,990		3,871
4.193%, ICE LIBOR USD 12 Month + 1.926%, 12/01/2036(A)		39		38
4.119%, SOFR30A + 2.380%, 09/01/2052(A)		735		707
3.990%, SOFR30A + 2.140%, 08/01/2052(A)		1,417		1,345
3.913%, SOFR30A + 2.130%, 07/01/2052(A)		1,024		980
3.845%, ICE LIBOR USD 12 Month + 1.595%, 10/01/2036(A)		10		10
3.828%, ICE LIBOR USD 12 Month + 1.637%, 03/01/2049(A)		1,075		1,068
3.155%, ICE LIBOR USD 12 Month + 1.721%, 01/01/2044(A)		466		473
3.098%, ICE LIBOR USD 12 Month + 1.621%, 02/01/2050(A)		793		757
3.006%, ICE LIBOR USD 12 Month + 1.628%, 11/01/2048(A)		2,782		2,629
2.878%, ICE LIBOR USD 12 Month + 1.619%, 11/01/2047(A)		994		947
2.817%, ICE LIBOR USD 12 Month + 1.640%, 05/01/2049(A)		689		670
2.814%, ICE LIBOR USD 12 Month + 1.646%, 10/01/2043(A)		396		403
2.687%, ICE LIBOR USD 12 Month + 1.611%, 10/01/2043(A)		247		249
2.557%, ICE LIBOR USD 12 Month + 1.606%, 09/01/2043(A)		113		114
2.509%, ICE LIBOR USD 12 Month + 1.631%, 11/01/2043(A)		237		239
2.375%, ICE LIBOR USD 12 Month + 1.635%, 07/01/2043(A)		118		120
2.304%, ICE LIBOR USD 12 Month + 1.642%, 08/01/2043(A)		213		217
2.101%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.285%, 03/01/2047(A)		472		446
FHLMC Multiclass Certificates, Ser 2020-RR02, Cl BX, IO
1.666%, 08/27/2028(A)		2,000		141
FHLMC Multiclass Certificates, Ser 2021-P009, Cl A2
1.878%, 01/25/2031		975		821
FHLMC Multifamily Structured Pass Through Certificates, Ser 151, Cl X1, IO
0.181%, 10/25/2032(A)		18,998		327


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC Multifamily Structured Pass Through Certificates, Ser 1519, Cl X1, IO
0.597%, 12/25/2035(A)	$	15,874	$	754
FHLMC Multifamily Structured Pass Through Certificates, Ser 152, Cl X1, IO
0.154%, 11/25/2032(A)		12,998		200
FHLMC Multifamily Structured Pass Through Certificates, Ser 1520, Cl X1, IO
0.472%, 02/25/2036(A)		4,986		200
FHLMC Multifamily Structured Pass Through Certificates, Ser 154, Cl X1, IO
0.353%, 01/25/2033(A)		6,500		200
FHLMC Multifamily Structured Pass Through Certificates, Ser K047, Cl A2
3.329%, 05/25/2025(A)		605		587
FHLMC Multifamily Structured Pass Through Certificates, Ser K091, Cl X1, IO
0.561%, 03/25/2029(A)		3,873		107
FHLMC Multifamily Structured Pass Through Certificates, Ser K093, Cl X1, IO
0.952%, 05/25/2029(A)		3,961		179
FHLMC Multifamily Structured Pass Through Certificates, Ser K094, Cl XAM, IO
1.148%, 06/25/2029(A)		6,800		410
FHLMC Multifamily Structured Pass Through Certificates, Ser K094, Cl X1, IO
0.879%, 06/25/2029(A)		2,979		129
FHLMC Multifamily Structured Pass Through Certificates, Ser K095, Cl XAM, IO
1.240%, 06/25/2029(A)		700		45
FHLMC Multifamily Structured Pass Through Certificates, Ser K101, Cl X1, IO
0.835%, 10/25/2029(A)		1,289		56
FHLMC Multifamily Structured Pass Through Certificates, Ser K133, Cl X1, IO
0.348%, 09/25/2031(A)		15,351		365
FHLMC Multifamily Structured Pass Through Certificates, Ser K142, Cl X1, IO
0.297%, 03/25/2032(A)		6,797		152
FHLMC Multifamily Structured Pass Through Certificates, Ser K143, Cl X1, IO
0.342%, 04/25/2055(A)		6,994		182
FHLMC Multifamily Structured Pass Through Certificates, Ser K145, Cl X1, IO
0.317%, 06/25/2055(A)		7,491		187
FHLMC Multifamily Structured Pass Through Certificates, Ser K147, Cl X1, IO
0.358%, 06/25/2032(A)		9,990		288
FHLMC Multifamily Structured Pass Through Certificates, Ser K149, Cl X1, IO
0.264%, 08/25/2032(A)		10,988		252


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC Multifamily Structured Pass Through Certificates, Ser K157, Cl A3
3.990%, 08/25/2033(A)	$	4,400	$	4,219
FHLMC Multifamily Structured Pass Through Certificates, Ser K726, Cl X1, IO
0.904%, 04/25/2024(A)		8,768		48
FHLMC Multifamily Structured Pass Through Certificates, Ser K736, Cl X1, IO
1.286%, 07/25/2026(A)		964		31
FHLMC Multifamily Structured Pass Through Certificates, Ser K737, Cl X1, IO
0.635%, 10/25/2026(A)		8,321		138
FHLMC Multifamily Structured Pass Through Certificates, Ser K741, Cl X1, IO
0.569%, 12/25/2027(A)		2,990		63
FHLMC Multifamily Structured Pass Through Certificates, Ser K742, Cl X1, IO
0.779%, 03/25/2028(A)		6,192		158
FHLMC Multifamily Structured Pass Through Certificates, Ser KC05, Cl X1, IO
1.211%, 06/25/2027(A)		1,519		43
FHLMC Multifamily Structured Pass Through Certificates, Ser KLU1, Cl A4
2.854%, 01/25/2031		1,115		1,017
FHLMC Multifamily Structured Pass Through Certificates, Ser KSG2, Cl A2
2.091%, 11/25/2031(A)		1,395		1,172
FHLMC Multifamily Structured Pass Through Certificates, Ser X3FX, Cl A2FX
3.000%, 06/25/2027		1,825		1,734
FHLMC REMIC CMO, Ser 1999-2174, Cl PN
6.000%, 07/15/2029		6		6
FHLMC REMIC CMO, Ser 2001-2312, Cl Z
6.500%, 05/15/2031		49		50
FHLMC REMIC CMO, Ser 2002-2399, Cl XG
6.500%, 01/15/2032		17		17
FHLMC REMIC CMO, Ser 2003-2671, Cl S
5.395%, 09/15/2033(A)		24		25
FHLMC REMIC CMO, Ser 2003-2684, Cl ZN
4.000%, 10/15/2033		47		45
FHLMC REMIC CMO, Ser 2004-2733, Cl ME
5.000%, 01/15/2034		112		112
FHLMC REMIC CMO, Ser 2006-R007, Cl ZA
6.000%, 05/15/2036		483		504
FHLMC REMIC CMO, Ser 2007-3316, Cl JO, PO
0.000%, 05/15/2037(B)		2		2
FHLMC REMIC CMO, Ser 2008-3451, Cl SB, IO
0.923%, 05/15/2038(A)		33		2
FHLMC REMIC CMO, Ser 2009-3546, Cl A
3.701%, 02/15/2039(A)		33		33


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC REMIC CMO, Ser 2010-3621, Cl SB, IO
1.123%, 01/15/2040(A)	$	50	$	5
FHLMC REMIC CMO, Ser 2011-3866, Cl SA, IO
0.843%, 05/15/2041(A)		287		16
FHLMC REMIC CMO, Ser 2012-4010, Cl KM
3.000%, 01/15/2042		218		203
FHLMC REMIC CMO, Ser 2012-4030, Cl HS, IO
1.503%, 04/15/2042(A)		27		3
FHLMC REMIC CMO, Ser 2012-4102, Cl TC
2.500%, 09/15/2041		1,017		958
FHLMC REMIC CMO, Ser 2012-4119, Cl IN, IO
3.500%, 10/15/2032		200		18
FHLMC REMIC CMO, Ser 2012-4122, Cl FP
5.507%, ICE LIBOR USD 1 Month + 0.400%, 10/15/2042(A)		888		867
FHLMC REMIC CMO, Ser 2013-4161, Cl BA
2.500%, 12/15/2041		2,326		2,201
FHLMC REMIC CMO, Ser 2013-4194, Cl BI, IO
3.500%, 04/15/2043		142		23
FHLMC REMIC CMO, Ser 2013-4205, Cl PA
1.750%, 05/15/2043		575		494
FHLMC REMIC CMO, Ser 2013-4210, Cl Z
3.000%, 05/15/2043		502		414
FHLMC REMIC CMO, Ser 2013-4240, Cl FA
5.607%, ICE LIBOR USD 1 Month + 0.500%, 08/15/2043(A)		2,223		2,175
FHLMC REMIC CMO, Ser 2013-4248, Cl FT
5.607%, ICE LIBOR USD 1 Month + 0.500%, 09/15/2043(A)		759		744
FHLMC REMIC CMO, Ser 2015-4446, Cl CP
2.250%, 03/15/2045		1,037		916
FHLMC REMIC CMO, Ser 2015-4479, Cl HA
3.750%, 05/15/2039(C)		183		181
FHLMC REMIC CMO, Ser 2016-4631, Cl FA
5.607%, ICE LIBOR USD 1 Month + 0.500%, 11/15/2046(A)		1,444		1,405
FHLMC REMIC CMO, Ser 2017-4719, Cl LM
3.000%, 09/15/2047		852		776
FHLMC REMIC CMO, Ser 2017-4742, Cl PA
3.000%, 10/15/2047		1,323		1,210
FHLMC REMIC CMO, Ser 2018-4793, Cl FD
5.407%, ICE LIBOR USD 1 Month + 0.300%, 06/15/2048(A)		335		321
FHLMC REMIC CMO, Ser 2018-4813, Cl CJ
3.000%, 08/15/2048		281		247
FHLMC REMIC CMO, Ser 2018-4826, Cl KF
5.407%, ICE LIBOR USD 1 Month + 0.300%, 09/15/2048(A)		696		667
FHLMC REMIC CMO, Ser 2019-4879, Cl BC
3.000%, 04/15/2049		128		116


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC REMIC CMO, Ser 2019-4880, Cl DA
3.000%, 05/15/2050	$	1,166	$	1,071
FHLMC REMIC CMO, Ser 2020-4993, Cl KF
5.588%, ICE LIBOR USD 1 Month + 0.450%, 07/25/2050(A)		6,103		5,833
FHLMC REMIC CMO, Ser 2020-4995, Cl IC, IO
4.500%, 07/25/2050		1,815		293
FHLMC REMIC CMO, Ser 2020-5004, Cl FM
5.488%, ICE LIBOR USD 1 Month + 0.350%, 08/25/2050(A)		1,321		1,261
FHLMC REMIC CMO, Ser 2020-5010, Cl IK, IO
2.500%, 09/25/2050		402		59
FHLMC REMIC CMO, Ser 2020-5010, Cl JI, IO
2.500%, 09/25/2050		1,130		178
FHLMC REMIC CMO, Ser 2020-5012, Cl BI, IO
4.000%, 09/25/2050		6,602		1,150
FHLMC REMIC CMO, Ser 2020-5013, Cl IN, IO
2.500%, 09/25/2050		492		74
FHLMC REMIC CMO, Ser 2020-5018, Cl MI, IO
2.000%, 10/25/2050		848		113
FHLMC REMIC CMO, Ser 2020-5040, Cl IB, IO
2.500%, 11/25/2050		289		42
FHLMC REMIC CMO, Ser 2020-5059, Cl IB, IO
2.500%, 01/25/2051		1,375		201
FHLMC REMIC CMO, Ser 2021-5069, Cl MI, IO
2.500%, 02/25/2051		544		80
FHLMC REMIC CMO, Ser 2021-5070, Cl DI, IO
4.000%, 02/25/2051		5,815		1,061
FHLMC REMIC CMO, Ser 2021-5085, Cl NI, IO
2.000%, 03/25/2051		1,310		143
FHLMC REMIC CMO, Ser 2021-5091, Cl AB
1.500%, 03/25/2051		2,406		1,943
FHLMC REMIC CMO, Ser 2021-5119, Cl QF
5.015%, SOFR30A + 0.200%, 06/25/2051(A)		1,863		1,770
FHLMC REMIC CMO, Ser 2021-5119, Cl AB
1.500%, 08/25/2049		1,262		1,005
FHLMC REMIC CMO, Ser 2021-5140, Cl NI, IO
2.500%, 05/25/2049		1,615		212
FHLMC REMIC CMO, Ser 2021-5143, Cl GA
2.000%, 06/25/2049		930		772


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC REMIC CMO, Ser 2021-5178, Cl TP
2.500%, 04/25/2049	$	2,121	$	1,845
FHLMC REMIC CMO, Ser 2021-5182, Cl M
2.500%, 05/25/2049		1,310		1,149
FHLMC REMIC CMO, Ser 2022-5200, Cl KQ
3.000%, 09/25/2049		169		155
FHLMC REMIC CMO, Ser 2022-5201, Cl CA
2.500%, 07/25/2048		1,897		1,691
FHLMC REMIC CMO, Ser 2022-5202, Cl LA
2.500%, 05/25/2049		1,912		1,672
FHLMC REMIC CMO, Ser 2022-5203, Cl G
2.500%, 11/25/2048		851		747
FHLMC REMIC CMO, Ser 2022-5217, Cl CD
2.500%, 07/25/2049		1,663		1,501
FHLMC REMIC CMO, Ser 2022-5224, Cl HL
4.000%, 04/25/2052		2,000		1,856
FHLMC REMIC CMO, Ser 2023-5300, Cl C
2.000%, 09/25/2047		2,598		2,381
FHLMC STRIPS CMO, Ser 2012-264, Cl 30
3.000%, 07/15/2042		1,605		1,474
FHLMC STRIPS CMO, Ser 2012-271, Cl F5
5.607%, ICE LIBOR USD 1 Month + 0.500%, 08/15/2042(A)		755		736
FHLMC STRIPS CMO, Ser 2012-271, Cl 30
3.000%, 08/15/2042		809		748
FHLMC STRIPS CMO, Ser 2012-272, Cl F1
5.607%, ICE LIBOR USD 1 Month + 0.500%, 08/15/2042(A)		1,185		1,160
FHLMC STRIPS CMO, Ser 2012-280, Cl F1
5.607%, ICE LIBOR USD 1 Month + 0.500%, 09/15/2042(A)		1,221		1,194
FHLMC STRIPS CMO, Ser 2016-353, Cl S1, IO
0.893%, 12/15/2046(A)		464		47
FHLMC STRIPS CMO, Ser 2017-356, Cl 300
3.000%, 09/15/2047		2,251		2,027
FNMA
8.000%, 01/01/2030 to 06/01/2031		12		12
7.500%, 02/01/2031 to 11/01/2038		73		76
7.000%, 09/01/2026 to 02/01/2053		2,188		2,265
6.500%, 05/01/2027 to 02/01/2053		4,164		4,344
6.000%, 02/01/2032 to 04/01/2053		6,495		6,624
5.500%, 12/01/2033 to 05/01/2053		10,122		10,250
5.000%, 05/01/2034 to 04/01/2053		16,396		16,314
4.870%, 03/01/2033		100		103
4.700%, 03/01/2033		400		406
4.690%, 01/01/2033		100		101
4.580%, 01/01/2033		100		101
4.500%, 08/01/2023 to 01/01/2059		40,667		39,963
4.480%, 05/01/2033		400		400
4.440%, 11/01/2032		200		199
4.420%, 03/01/2033		400		398
4.410%, 12/01/2032		400		398


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
4.370%, 11/01/2032	$	400	$	397
4.360%, 02/01/2033		400		397
4.270%, 10/01/2032		198		196
4.200%, 01/01/2029		1,665		1,633
4.185%, 07/01/2032		100		98
4.130%, 07/01/2032		100		97
4.060%, 07/01/2032		499		476
4.000%, 01/01/2027 to 06/01/2057		78,750		75,821
3.900%, 08/01/2032		200		188
3.890%, 07/01/2032		1,500		1,407
3.880%, 07/01/2032		99		95
3.860%, 07/01/2032		99		95
3.850%, 08/01/2032		300		280
3.840%, 07/01/2032		200		191
3.830%, 07/01/2032		200		191
3.820%, 07/01/2027		242		235
3.730%, 06/01/2032		100		95
3.670%, 06/01/2032		99		93
3.560%, 07/01/2032		200		187
3.520%, 06/01/2032		100		93
3.500%, 07/01/2031 to 06/01/2052		116,156		108,425
3.450%, 03/01/2029		114		109
3.380%, 05/01/2028		107		102
3.310%, 03/01/2028		1,900		1,805
3.250%, 05/01/2029		116		110
3.200%, 02/01/2029		89		84
3.160%, 05/01/2029		312		292
3.020%, 05/01/2026		1,265		1,202
3.000%, 05/01/2029 to 07/01/2060		268,206		242,069
2.930%, 06/01/2030		170		158
2.810%, 04/01/2025		250		240
2.500%, 03/01/2035 to 09/01/2061		178,453		155,267
2.455%, 04/01/2040		3,020		2,196
2.150%, 02/01/2032(A)		518		437
2.000%, 05/01/2036 to 04/01/2052		360,690		303,499
1.850%, 09/01/2035		1,115		947
1.500%, 10/01/2041 to 07/01/2051		42,867		34,348
FNMA ACES, Ser 2014-M3, Cl X2, IO
0.029%, 01/25/2024(A)		6,694		–
FNMA ACES, Ser 2015-M8, Cl X2, IO
0.060%, 01/25/2025(A)		58,151		64
FNMA ACES, Ser 2016-M11, Cl AL
2.944%, 07/25/2039		120		108
FNMA ACES, Ser 2017-M8, Cl A2
3.061%, 05/25/2027(A)		166		158
FNMA ACES, Ser 2018-M15, Cl 1A2
3.700%, 01/25/2036		600		554
FNMA ACES, Ser 2019-M28, Cl AV
2.232%, 02/25/2027		432		404
FNMA ACES, Ser 2019-M4, Cl A2
3.610%, 02/25/2031		323		305


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA ACES, Ser 2019-M5, Cl A2
3.273%, 02/25/2029	$	551	$	520
FNMA ACES, Ser 2020-M6, Cl A
2.500%, 10/25/2037		172		150
FNMA ARM
6.954%, ICE LIBOR USD 12 Month + 1.560%, 03/01/2043(A)		26		26
6.129%, ICE LIBOR USD 12 Month + 1.653%, 01/01/2043(A)		115		117
4.655%, SOFR30A + 2.130%, 08/01/2052(A)		2,335		2,291
4.638%, SOFR30A + 2.123%, 08/01/2052(A)		2,262		2,208
4.621%, SOFR30A + 2.125%, 08/01/2052(A)		3,097		3,034
4.533%, SOFR30A + 2.120%, 11/01/2052(A)		1,133		1,112
4.355%, SOFR30A + 2.124%, 07/01/2052(A)		2,670		2,596
4.310%, SOFR30A + 2.125%, 08/01/2052(A)		2,755		2,676
4.249%, SOFR30A + 2.127%, 11/01/2052(A)		1,794		1,750
4.227%, SOFR30A + 2.370%, 09/01/2052(A)		702		679
4.177%, ICE LIBOR USD 12 Month + 1.583%, 01/01/2046(A)		1,243		1,249
4.165%, SOFR30A + 2.120%, 07/01/2052(A)		2,356		2,258
4.152%, SOFR30A + 2.133%, 10/01/2052(A)		5,144		5,003
4.144%, SOFR30A + 2.120%, 09/01/2052(A)		2,185		2,128
4.038%, ICE LIBOR USD 12 Month + 1.579%, 06/01/2045(A)		486		489
3.965%, SOFR30A + 2.120%, 08/01/2052(A)		626		595
3.681%, SOFR30A + 2.370%, 08/01/2052(A)		1,560		1,489
3.288%, ICE LIBOR USD 12 Month + 1.578%, 10/01/2043(A)		542		550
2.979%, ICE LIBOR USD 12 Month + 1.603%, 03/01/2050(A)		2,653		2,576
2.869%, ICE LIBOR USD 12 Month + 1.560%, 12/01/2035(A)		8		8
2.802%, ICE LIBOR USD 12 Month + 1.560%, 06/01/2043(A)		152		155
1.604%, 12/01/2051(A)		636		570
FNMA Interest STRIPS CMO, Ser 2002-323, Cl 16, IO
7.000%, 01/25/2032		77		9


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA Interest STRIPS CMO, Ser 2003-334, Cl 16, IO
6.500%, 02/25/2033	$	103	$	16
FNMA Interest STRIPS CMO, Ser 2012-409, Cl C2, IO
3.000%, 04/25/2027		280		11
FNMA Interest STRIPS CMO, Ser 2012-409, Cl C22, IO
4.500%, 11/25/2039		319		59
FNMA Interest STRIPS CMO, Ser 2012-409, Cl C17, IO
4.000%, 11/25/2041		321		58
FNMA Interest STRIPS CMO, Ser 2012-409, Cl C13, IO
3.500%, 11/25/2041		268		42
FNMA Interest STRIPS CMO, Ser 2012-409, Cl C1, IO
3.000%, 11/25/2026		324		10
FNMA Interest STRIPS CMO, Ser 2012-411, Cl A3
3.000%, 08/25/2042		1,100		999
FNMA Interest STRIPS CMO, Ser 2012-414, Cl A35
3.500%, 10/25/2042		1,571		1,482
FNMA Interest STRIPS CMO, Ser 2018-424, Cl C11, IO
3.500%, 02/25/2048		2,946		570
FNMA REMIC CMO, Ser 1993-149, Cl SH
11.500%, 08/25/2023(A)		–		–
FNMA REMIC CMO, Ser 1993-99, Cl Z
7.000%, 07/25/2023		1		1
FNMA REMIC CMO, Ser 1994-31, Cl ZC
6.500%, 02/25/2024		5		5
FNMA REMIC CMO, Ser 1994-63, Cl PK
7.000%, 04/25/2024		8		8
FNMA REMIC CMO, Ser 1997-32, Cl PG
6.500%, 04/25/2027		32		32
FNMA REMIC CMO, Ser 1999-11, Cl Z
5.500%, 03/25/2029		47		45
FNMA REMIC CMO, Ser 2001-52, Cl YZ
6.500%, 10/25/2031		9		9
FNMA REMIC CMO, Ser 2003-124, Cl TS
9.800%, 01/25/2034(A)		4		4
FNMA REMIC CMO, Ser 2005-29, Cl ZA
5.500%, 04/25/2035		186		192
FNMA REMIC CMO, Ser 2005-74, Cl CS
5.891%, 05/25/2035(A)		17		18
FNMA REMIC CMO, Ser 2006-104, Cl MI, IO
1.612%, 11/25/2036(A)		126		8
FNMA REMIC CMO, Ser 2006-125, Cl SM, IO
2.062%, 01/25/2037(A)		194		19
FNMA REMIC CMO, Ser 2006-33, Cl LS
7.029%, 05/25/2036(A)		32		37


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA REMIC CMO, Ser 2006-46, Cl SW
5.361%, 06/25/2036(A)	$	24	$	27
FNMA REMIC CMO, Ser 2006-51, Cl SP, IO
1.512%, 03/25/2036(A)		25		1
FNMA REMIC CMO, Ser 2007-64, Cl FA
5.608%, ICE LIBOR USD 1 Month + 0.470%, 07/25/2037(A)		4		4
FNMA REMIC CMO, Ser 2007-68, Cl SC, IO
1.562%, 07/25/2037(A)		77		8
FNMA REMIC CMO, Ser 2008-24, Cl NA
6.750%, 06/25/2037		6		6
FNMA REMIC CMO, Ser 2009-103, Cl MB
4.407%, 12/25/2039(A)		39		38
FNMA REMIC CMO, Ser 2009-86, Cl BO, PO
0.000%, 03/25/2037(B)		390		334
FNMA REMIC CMO, Ser 2010-123, Cl PM
4.000%, 07/25/2040		914		892
FNMA REMIC CMO, Ser 2010-27, Cl AS, IO
1.342%, 04/25/2040(A)		310		35
FNMA REMIC CMO, Ser 2011-2, Cl WA
5.862%, 02/25/2051(A)		37		38
FNMA REMIC CMO, Ser 2011-75, Cl FA
5.688%, ICE LIBOR USD 1 Month + 0.550%, 08/25/2041(A)		28		28
FNMA REMIC CMO, Ser 2011-96, Cl SA, IO
1.412%, 10/25/2041(A)		653		50
FNMA REMIC CMO, Ser 2012-133, Cl CS, IO
1.012%, 12/25/2042(A)		362		41
FNMA REMIC CMO, Ser 2012-133, Cl JF
5.488%, ICE LIBOR USD 1 Month + 0.350%, 12/25/2042(A)		1,019		990
FNMA REMIC CMO, Ser 2012-134, Cl MS, IO
1.012%, 12/25/2042(A)		153		18
FNMA REMIC CMO, Ser 2012-151, Cl NX
1.500%, 01/25/2043		645		548
FNMA REMIC CMO, Ser 2012-28, Cl B
6.500%, 06/25/2039		3		3
FNMA REMIC CMO, Ser 2012-35, Cl SC, IO
1.362%, 04/25/2042(A)		219		24
FNMA REMIC CMO, Ser 2012-46, Cl BA
6.000%, 05/25/2042		242		254
FNMA REMIC CMO, Ser 2012-74, Cl SA, IO
1.512%, 03/25/2042(A)		280		18
FNMA REMIC CMO, Ser 2012-74, Cl OA, PO
0.000%, 03/25/2042(B)		19		17
FNMA REMIC CMO, Ser 2012-75, Cl AO, PO
0.000%, 03/25/2042(B)		39		34
FNMA REMIC CMO, Ser 2012-75, Cl NS, IO
1.462%, 07/25/2042(A)		78		9
FNMA REMIC CMO, Ser 2013-101, Cl BO, PO
0.000%, 10/25/2043(B)		555		428


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA REMIC CMO, Ser 2013-101, Cl CO, PO
0.000%, 10/25/2043(B)	$	1,186	$	906
FNMA REMIC CMO, Ser 2013-11, Cl AP
1.500%, 01/25/2043		2,157		1,917
FNMA REMIC CMO, Ser 2013-124, Cl SB, IO
0.812%, 12/25/2043(A)		284		30
FNMA REMIC CMO, Ser 2013-15, Cl FA
5.488%, ICE LIBOR USD 1 Month + 0.350%, 03/25/2043(A)		1,249		1,216
FNMA REMIC CMO, Ser 2013-26, Cl HI, IO
3.000%, 04/25/2032		23		1
FNMA REMIC CMO, Ser 2013-43, Cl BP
1.750%, 05/25/2043		724		623
FNMA REMIC CMO, Ser 2013-54, Cl BS, IO
1.012%, 06/25/2043(A)		163		19
FNMA REMIC CMO, Ser 2013-9, Cl CB
5.500%, 04/25/2042		605		616
FNMA REMIC CMO, Ser 2013-9, Cl BC
6.500%, 07/25/2042		561		595
FNMA REMIC CMO, Ser 2014-25, Cl EL
3.000%, 05/25/2044		1,134		1,033
FNMA REMIC CMO, Ser 2015-20, Cl EF
5.488%, ICE LIBOR USD 1 Month + 0.350%, 04/25/2045(A)		2,840		2,756
FNMA REMIC CMO, Ser 2015-26, Cl GF
5.438%, ICE LIBOR USD 1 Month + 0.300%, 05/25/2045(A)		1,792		1,741
FNMA REMIC CMO, Ser 2015-32, Cl FA
5.438%, ICE LIBOR USD 1 Month + 0.300%, 05/25/2045(A)		1,084		1,048
FNMA REMIC CMO, Ser 2015-39, Cl LZ
3.000%, 06/25/2045		46		41
FNMA REMIC CMO, Ser 2015-48, Cl FB
5.438%, ICE LIBOR USD 1 Month + 0.300%, 07/25/2045(A)		1,344		1,301
FNMA REMIC CMO, Ser 2015-65, Cl CZ
3.500%, 09/25/2045		524		453
FNMA REMIC CMO, Ser 2015-8, Cl AP
2.000%, 03/25/2045		2,059		1,807
FNMA REMIC CMO, Ser 2015-84, Cl PA
1.700%, 08/25/2033		2,489		2,249
FNMA REMIC CMO, Ser 2016-37, Cl MJ
3.500%, 08/25/2043		90		87
FNMA REMIC CMO, Ser 2016-48, Cl MA
2.000%, 06/25/2038		2,498		2,257
FNMA REMIC CMO, Ser 2016-57, Cl PC
1.750%, 06/25/2046		3,860		3,244
FNMA REMIC CMO, Ser 2017-13, Cl PA
3.000%, 08/25/2046		776		717
FNMA REMIC CMO, Ser 2017-76, Cl SB, IO
0.962%, 10/25/2057(A)		1,111		125


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA REMIC CMO, Ser 2017-78, Cl FC
5.488%, ICE LIBOR USD 1 Month + 0.350%, 10/25/2047(A)	$	1,280	$	1,235
FNMA REMIC CMO, Ser 2017-85, Cl SC, IO
1.062%, 11/25/2047(A)		355		33
FNMA REMIC CMO, Ser 2018-14, Cl KC
3.000%, 03/25/2048		1,509		1,407
FNMA REMIC CMO, Ser 2018-38, Cl PA
3.500%, 06/25/2047		664		634
FNMA REMIC CMO, Ser 2018-43, Cl CT
3.000%, 06/25/2048		1,118		997
FNMA REMIC CMO, Ser 2018-74, Cl AB
3.500%, 10/25/2048		278		260
FNMA REMIC CMO, Ser 2018-8, Cl KL
2.500%, 03/25/2047		784		692
FNMA REMIC CMO, Ser 2018-85, Cl EA
3.500%, 12/25/2048		970		923
FNMA REMIC CMO, Ser 2018-85, Cl FE
5.438%, ICE LIBOR USD 1 Month + 0.300%, 12/25/2048(A)		2,956		2,864
FNMA REMIC CMO, Ser 2018-86, Cl JA
4.000%, 05/25/2047		103		99
FNMA REMIC CMO, Ser 2019-1, Cl AB
3.500%, 02/25/2049		680		635
FNMA REMIC CMO, Ser 2019-15, Cl FA
5.638%, ICE LIBOR USD 1 Month + 0.500%, 04/25/2049(A)		693		673
FNMA REMIC CMO, Ser 2019-25, Cl PA
3.000%, 05/25/2048		1,601		1,467
FNMA REMIC CMO, Ser 2019-43, Cl FC
5.538%, ICE LIBOR USD 1 Month + 0.400%, 08/25/2049(A)		1,389		1,340
FNMA REMIC CMO, Ser 2019-45, Cl PA
3.000%, 08/25/2049		428		384
FNMA REMIC CMO, Ser 2019-52, Cl PA
3.000%, 09/25/2049		133		116
FNMA REMIC CMO, Ser 2019-67, Cl FB
5.588%, ICE LIBOR USD 1 Month + 0.450%, 11/25/2049(A)		684		662
FNMA REMIC CMO, Ser 2019-79, Cl FA
5.638%, ICE LIBOR USD 1 Month + 0.500%, 01/25/2050(A)		1,936		1,877
FNMA REMIC CMO, Ser 2020-25, Cl BI, IO
3.500%, 01/25/2047		1,525		241
FNMA REMIC CMO, Ser 2020-34, Cl F
5.588%, ICE LIBOR USD 1 Month + 0.450%, 06/25/2050(A)		945		911
FNMA REMIC CMO, Ser 2020-45, Cl JL
3.000%, 07/25/2040		2,197		2,001
FNMA REMIC CMO, Ser 2020-47, Cl GZ
2.000%, 07/25/2050		742		449
FNMA REMIC CMO, Ser 2020-48, Cl DA
2.000%, 07/25/2050		2,978		2,504


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA REMIC CMO, Ser 2020-48, Cl AB
2.000%, 07/25/2050	$	980	$	816
FNMA REMIC CMO, Ser 2020-56, Cl DI, IO
2.500%, 08/25/2050		785		119
FNMA REMIC CMO, Ser 2020-56, Cl AQ
2.000%, 08/25/2050		1,600		1,255
FNMA REMIC CMO, Ser 2020-64, Cl IB, IO
4.000%, 09/25/2050		2,091		405
FNMA REMIC CMO, Ser 2020-65, Cl DI, IO
4.000%, 09/25/2050		2,579		482
FNMA REMIC CMO, Ser 2020-65, Cl JI, IO
4.000%, 09/25/2050		4,544		808
FNMA REMIC CMO, Ser 2020-65, Cl EI, IO
4.000%, 09/25/2050		3,828		711
FNMA REMIC CMO, Ser 2020-74, Cl EI, IO
2.500%, 10/25/2050		381		60
FNMA REMIC CMO, Ser 2020-89, Cl DI, IO
2.500%, 12/25/2050		2,364		350
FNMA REMIC CMO, Ser 2020-97, Cl AI, IO
2.000%, 01/25/2051		2,398		302
FNMA REMIC CMO, Ser 2021-1, Cl IG, IO
2.500%, 02/25/2051		1,630		270
FNMA REMIC CMO, Ser 2021-27, Cl EC
1.500%, 05/25/2051		4,216		3,371
FNMA REMIC CMO, Ser 2021-3, Cl QI, IO
2.500%, 02/25/2051		2,092		301
FNMA REMIC CMO, Ser 2021-61, Cl KI, IO
2.500%, 04/25/2049		1,526		210
FNMA REMIC CMO, Ser 2021-78, Cl PA
2.500%, 11/25/2051		1,426		1,243
FNMA REMIC CMO, Ser 2021-78, Cl ND
1.500%, 11/25/2051		2,441		2,020
FNMA REMIC CMO, Ser 2022-11, Cl A
2.500%, 07/25/2047		4,224		3,811
FNMA REMIC CMO, Ser 2022-28, Cl CA
2.000%, 01/25/2048		1,574		1,398
FNMA REMIC CMO, Ser 2022-57, Cl BC
4.000%, 09/25/2052		188		180
FNMA TBA
6.500%, 06/15/2053		300		307
6.000%, 08/01/2033 to 07/15/2053		41,600		42,071
5.500%, 06/15/2053		52,138		52,105
5.000%, 06/01/2038		74,066		72,959
4.500%, 06/15/2053		46,706		45,238
4.000%, 06/15/2053		47,014		44,413
3.500%, 06/15/2053		23,580		21,663
3.000%, 06/15/2053		91,232		80,974
2.500%, 06/15/2038 to 06/15/2053		114,770		98,354
2.000%, 06/15/2038 to 06/15/2053		113,388		93,626
GNMA
7.000%, 04/15/2026 to 10/15/2032		300		305
6.500%, 01/15/2024 to 07/15/2035		597		611


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
6.000%, 09/15/2028 to 01/20/2053	$	8,260	$	8,502
5.500%, 11/20/2052 to 02/20/2053		3,364		3,373
5.000%, 10/15/2039 to 02/20/2053		9,258		9,259
4.700%, 09/20/2061(A)		123		121
4.500%, 01/20/2040 to 09/20/2052		21,646		21,268
4.477%, 01/20/2069(A)		16		15
4.000%, 10/20/2044 to 04/20/2053		21,871		20,974
3.500%, 06/20/2044 to 12/20/2052		26,822		25,114
3.000%, 09/15/2042 to 04/20/2052		56,408		51,054
2.500%, 10/20/2049 to 02/20/2053		44,866		39,131
2.000%, 09/20/2050 to 11/20/2051		17,790		15,093
GNMA ARM
6.500%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.440%, 01/20/2060(A)		246		247
2.625%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.500%, 07/20/2034(A)		3		3
GNMA CMO, Ser 2003-60, Cl GS
3.908%, 05/16/2033(A)		1		1
GNMA CMO, Ser 2005-7, Cl JM
5.488%, 05/18/2034(A)		–		–
GNMA CMO, Ser 2006-16, Cl GS, IO
1.842%, 04/20/2036(A)		223		15
GNMA CMO, Ser 2007-78, Cl SA, IO
1.425%, 12/16/2037(A)		1,592		60
GNMA CMO, Ser 2009-106, Cl KS, IO
1.252%, 11/20/2039(A)		1,539		102
GNMA CMO, Ser 2009-66, Cl XS, IO
1.695%, 07/16/2039(A)		8		–
GNMA CMO, Ser 2009-66, Cl LC
6.000%, 08/16/2039		909		931
GNMA CMO, Ser 2009-8, Cl PS, IO
1.195%, 08/16/2038(A)		4		–
GNMA CMO, Ser 2010-4, Cl SL, IO
1.295%, 01/16/2040(A)		47		5
GNMA CMO, Ser 2010-4, Cl NS, IO
1.285%, 01/16/2040(A)		2,256		211
GNMA CMO, Ser 2010-85, Cl HS, IO
1.502%, 01/20/2040(A)		23		–
GNMA CMO, Ser 2010-H10, Cl FC
6.018%, ICE LIBOR USD 1 Month + 1.000%, 05/20/2060(A)		868		868
GNMA CMO, Ser 2010-H26, Cl LF
5.208%, ICE LIBOR USD 1 Month + 0.350%, 08/20/2058(A)		1,316		1,306
GNMA CMO, Ser 2011-146, Cl EI, IO
5.000%, 11/16/2041		26		4
GNMA CMO, Ser 2011-H09, Cl AF
5.358%, ICE LIBOR USD 1 Month + 0.500%, 03/20/2061(A)		304		302
GNMA CMO, Ser 2012-124, Cl AS, IO
1.095%, 10/16/2042(A)		312		33


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GNMA CMO, Ser 2012-141, Cl WA
4.518%, 11/16/2041(A)	$	282	$	277
GNMA CMO, Ser 2012-98, Cl SA, IO
0.995%, 08/16/2042(A)		246		25
GNMA CMO, Ser 2012-H07, Cl KI, IO
1.328%, 03/20/2062(A)		354		24
GNMA CMO, Ser 2013-H01, Cl JA
5.178%, ICE LIBOR USD 1 Month + 0.320%, 01/20/2063(A)		184		182
GNMA CMO, Ser 2013-H01, Cl TA
4.694%, ICE LIBOR USD 1 Month + 0.500%, 01/20/2063(A)		4		4
GNMA CMO, Ser 2014-H04, Cl FB
5.508%, ICE LIBOR USD 1 Month + 0.650%, 02/20/2064(A)		777		774
GNMA CMO, Ser 2015-167, Cl OI, IO
4.000%, 04/16/2045		180		32
GNMA CMO, Ser 2016-135, Cl SB, IO
0.995%, 10/16/2046(A)		699		98
GNMA CMO, Ser 2016-84, Cl IG, IO
4.500%, 11/16/2045		91		18
GNMA CMO, Ser 2017-167, Cl BQ
2.500%, 08/20/2044		747		684
GNMA CMO, Ser 2018-168, Cl PA
4.000%, 08/20/2048		180		173
GNMA CMO, Ser 2018-H06, Cl PF
5.158%, ICE LIBOR USD 1 Month + 0.300%, 02/20/2068(A)		338		334
GNMA CMO, Ser 2018-H07, Cl FD
5.158%, ICE LIBOR USD 1 Month + 0.300%, 05/20/2068(A)		641		638
GNMA CMO, Ser 2019-15, Cl GT
3.500%, 02/20/2049		856		794
GNMA CMO, Ser 2019-18, Cl TP
3.500%, 02/20/2049		96		89
GNMA CMO, Ser 2019-71, Cl PT
3.000%, 06/20/2049		61		56
GNMA CMO, Ser 2019-90, Cl AB
3.000%, 07/20/2049		288		259
GNMA CMO, Ser 2020-123, Cl NI, IO
2.500%, 08/20/2050		1,020		143
GNMA CMO, Ser 2020-123, Cl IL, IO
2.500%, 08/20/2050		309		43
GNMA CMO, Ser 2020-127, Cl IN, IO
2.500%, 08/20/2050		464		64
GNMA CMO, Ser 2020-129, Cl IE, IO
2.500%, 09/20/2050		401		55
GNMA CMO, Ser 2020-160, Cl YI, IO
2.500%, 10/20/2050		1,536		191
GNMA CMO, Ser 2020-160, Cl VI, IO
2.500%, 10/20/2050		481		69


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GNMA CMO, Ser 2020-160, Cl IH, IO
2.500%, 10/20/2050	$	328	$	45
GNMA CMO, Ser 2020-173, Cl MI, IO
2.500%, 11/20/2050		6,678		872
GNMA CMO, Ser 2020-181, Cl WI, IO
2.000%, 12/20/2050		3,287		353
GNMA CMO, Ser 2020-47, Cl MI, IO
3.500%, 04/20/2050		786		128
GNMA CMO, Ser 2020-47, Cl NI, IO
3.500%, 04/20/2050		288		47
GNMA CMO, Ser 2020-H09, Cl FL
4.340%, ICE LIBOR USD 1 Month + 1.150%, 05/20/2070(A)		876		865
GNMA CMO, Ser 2020-H09, Cl NF
6.108%, ICE LIBOR USD 1 Month + 1.250%, 04/20/2070(A)		225		226
GNMA CMO, Ser 2020-H12, Cl F
4.054%, ICE LIBOR USD 1 Month + 0.500%, 07/20/2070(A)		98		95
GNMA CMO, Ser 2020-H13, Cl FA
4.424%, ICE LIBOR USD 1 Month + 0.450%, 07/20/2070(A)		583		560
GNMA CMO, Ser 2021-115, Cl MI, IO
2.500%, 05/20/2051		499		49
GNMA CMO, Ser 2021-23, Cl MG
1.500%, 02/20/2051		2,815		2,326
GNMA CMO, Ser 2021-27, Cl Q
5.000%, 02/20/2051		1,184		1,164
GNMA CMO, Ser 2021-27, Cl NT
5.000%, 02/20/2051		1,363		1,336
GNMA CMO, Ser 2021-27, Cl BD
5.000%, 02/20/2051		1,185		1,200
GNMA CMO, Ser 2021-27, Cl CW
5.001%, 02/20/2051(A)		843		841
GNMA CMO, Ser 2021-29, Cl AG
5.000%, 02/20/2051		153		155
GNMA CMO, Ser 2021-29, Cl TI, IO
2.500%, 02/20/2051		1,026		178
GNMA CMO, Ser 2021-8, Cl CY
5.000%, 01/20/2051		603		602
GNMA CMO, Ser 2021-8, Cl AQ
5.000%, 01/20/2051		153		158
GNMA CMO, Ser 2021-96, Cl VI, IO
2.500%, 06/20/2051		2,323		306
GNMA CMO, Ser 2022-107, Cl C
2.500%, 06/20/2051		5,533		4,721
GNMA CMO, Ser 2022-189, Cl PT
2.500%, 10/20/2051		1,651		1,376
GNMA CMO, Ser 2022-197, Cl LF
5.631%, SOFR30A + 0.700%, 11/20/2052(A)		4,879		4,853


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GNMA CMO, Ser 2022-205, Cl A
2.000%, 09/20/2051	$	2,048	$	1,670
GNMA CMO, Ser 2022-31, Cl GH
2.500%, 12/20/2049		3,682		3,271
GNMA CMO, Ser 2022-50, Cl DC
2.500%, 08/20/2051		1,672		1,441
GNMA CMO, Ser 2022-84, Cl A
2.500%, 01/20/2052		12,145		10,427
GNMA TBA
6.000%, 06/15/2053 to 07/15/2053		25,900		26,142
5.000%, 06/15/2040		12,588		12,431
4.500%, 06/01/2039		12,975		12,608
4.000%, 06/15/2053		2,016		1,916
3.500%, 06/15/2053		26,780		24,842
3.000%, 06/15/2053		2,200		1,980
2.500%, 06/15/2053 to 07/15/2053		32,009		28,018
2.000%, 06/15/2053		600		509
GNMA, Ser 103, Cl AD
1.450%, 01/16/2063		1,471		1,145
GNMA, Ser 14, Cl AB
1.340%, 06/16/2063		1,167		905
GNMA, Ser 196, Cl BE
3.000%, 10/16/2064(A)		1,100		832
GNMA, Ser 2012-112, IO
0.130%, 02/16/2053(A)		2,205		6
GNMA, Ser 2012-142, IO
0.194%, 04/16/2054(A)		5,631		20
GNMA, Ser 2012-27, IO
0.268%, 04/16/2053(A)		2,928		9
GNMA, Ser 2013-107, Cl AD
2.842%, 11/16/2047(A)		342		308
GNMA, Ser 2013-163, IO
1.018%, 02/16/2046(A)		1,484		22
GNMA, Ser 2014-186, IO
0.373%, 08/16/2054(A)		1,825		18
GNMA, Ser 2014-47, Cl IA, IO
0.147%, 02/16/2048(A)		356		2
GNMA, Ser 2014-50, IO
0.629%, 09/16/2055(A)		1,708		43
GNMA, Ser 2016-128, IO
0.737%, 09/16/2056(A)		3,585		120
GNMA, Ser 2017-135, Cl AG
2.600%, 08/16/2058		582		504
GNMA, Ser 2017-145, IO
0.506%, 04/16/2057(A)		1,610		47
GNMA, Ser 2017-157, IO
0.503%, 12/16/2059(A)		926		29
GNMA, Ser 2017-190, IO
0.618%, 03/16/2060(A)		1,441		52
GNMA, Ser 2017-8, IO
0.449%, 08/16/2058(A)		1,229		31


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GNMA, Ser 2020-109, Cl AI, IO
0.840%, 05/16/2060(A)	$	2,222	$	127
GNMA, Ser 2020-184, IO
0.913%, 11/16/2060(A)		2,837		178
GNMA, Ser 2020-41, IO
0.594%, 07/16/2058(A)		513		14
GNMA, Ser 2021-37, IO
0.805%, 01/16/2061(A)		2,874		170
GNMA, Ser 2021-60, IO
0.826%, 05/16/2063(A)		2,277		139
GNMA, Ser 2021-68, IO
0.870%, 10/16/2062(A)		2,728		172
GNMA, Ser 21, Cl AH
1.400%, 06/16/2063		2,195		1,725
GNMA, Ser 210, IO
0.695%, 07/16/2064(A)		1,493		98
GNMA, Ser 216, IO
0.751%, 07/16/2065(A)		1,496		93
GNMA, Ser 220, Cl E
3.000%, 10/16/2064(A)		900		692
GNMA, Ser 3, IO
0.640%, 02/16/2061(A)		1,561		78
GNMA, Ser 3, Cl B
1.850%, 02/16/2061		400		212
GNMA, Ser 4, Cl Z
1.900%, 03/16/2064		205		101
GNMA, Ser 59, IO
0.571%, 02/16/2062(A)		3,429		177
GNMA, Ser 82, Cl Z
2.000%, 02/16/2064		1,326		825


				2,622,354
Non-Agency Mortgage-Backed Obligations — 6.6%
Alen Mortgage Trust, Ser 2021-ACEN, Cl A
6.257%, ICE LIBOR USD 1 Month + 1.150%, 04/15/2034(A)(D)		1,900		1,680
American Home Mortgage Investment Trust, Ser 2005-1, Cl 1A2
5.580%, ICE LIBOR USD 1 Month + 0.560%, 06/25/2045(A)		205		203
Angel Oak Mortgage Trust, Ser 2020-2, Cl A1A
2.531%, 01/26/2065(A)(D)		432		396
Angel Oak Mortgage Trust, Ser 2020-5, Cl A1
1.373%, 05/25/2065(A)(D)		171		157
Angel Oak Mortgage Trust, Ser 2021-6, Cl A1
1.458%, 09/25/2066(A)(D)		1,182		947
Angel Oak Mortgage Trust, Ser 2021-7, Cl A3
2.337%, 10/25/2066(A)(D)		754		618


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Angel Oak Mortgage Trust, Ser 2022-2, Cl A1
3.353%, 01/25/2067(A)(D)	$	9,065	$	8,253
Angel Oak Mortgage Trust, Ser 2022-3, Cl A1
4.000%, 01/25/2067(D)		3,419		3,191
Arbor Multifamily Mortgage Securities Trust, Ser 2021-MF2, Cl B
2.560%, 06/15/2054(A)(D)		1,205		905
AREIT Trust, Ser 2022-CRE6, Cl A
6.164%, SOFR30A + 1.250%, 01/20/2037(A)(D)		1,915		1,865
AREIT Trust, Ser 2022-CRE7, Cl A
7.308%, TSFR1M + 2.242%, 06/17/2039(A)(D)		2,110		2,104
BAMLL Commercial Mortgage Securities Trust, Ser 2018-PARK, Cl A
4.227%, 08/10/2038(A)(D)		2,640		2,368
Banc of America Alternative Loan Trust, Ser 2006-8, Cl 3A1
3.519%, 11/25/2021(A)		6		4
Banc of America Alternative Loan Trust, Ser 2007-1, Cl 2A1
5.372%, 04/25/2037(A)		39		35
Banc of America Funding Trust, Ser 2003-2, Cl 1A1
6.500%, 06/25/2032		5		5
Banc of America Funding Trust, Ser 2004-2, Cl 1CB1
5.750%, 09/20/2034		29		29
Banc of America Funding Trust, Ser 2005-B, Cl 2A1
4.011%, 04/20/2035(A)		582		516
BANK, Ser 2017-BNK5, Cl A4
3.131%, 06/15/2060		1,130		1,042
BANK, Ser 2017-BNK7, Cl A5
3.435%, 09/15/2060		1,170		1,084
BANK, Ser 2019-BN19, Cl A3
3.183%, 08/15/2061		385		338
BANK, Ser 2019-BN23, Cl A3
2.920%, 12/15/2052		165		144
BANK, Ser 2022-BNK40, Cl A4
3.394%, 03/15/2064(A)		1,240		1,090
BANK, Ser BNK42, Cl A5
4.493%, 06/15/2055(A)		1,705		1,625
BANK, Ser BNK43, Cl A5
4.399%, 08/15/2055		4,430		4,184
Bayview MSR Opportunity Master Fund Trust, Ser 2021-5, Cl A5
2.500%, 11/25/2051(A)(D)		6,584		5,739
BBCMS Mortgage Trust, Ser 2018-C2, Cl ASB
4.236%, 12/15/2051		524		510


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
BBCMS Mortgage Trust, Ser 2020-C6, Cl A2
2.690%, 02/15/2053	$	1,205	$	1,115
BBCMS Mortgage Trust, Ser C18, Cl A5
5.710%, 12/15/2055(A)		1,760		1,837
BBCMS Trust, Ser 2015-SRCH, Cl A1
3.312%, 08/10/2035(D)		1,234		1,139
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-2, Cl 14A
3.866%, 05/25/2034(A)		10		9
Bear Stearns Commercial Mortgage Securities Trust, Ser 2005-PWR8, Cl X1, IO
0.716%, 06/11/2041(A)(D)		1		–
Benchmark Mortgage Trust, Ser 2022-B33, Cl A5
3.458%, 03/15/2055		1,915		1,689
Benchmark Mortgage Trust, Ser 2022-B35, Cl A5
4.445%, 05/15/2055(A)		970		903
Benchmark Mortgage Trust, Ser 2022-B35, Cl AS
4.445%, 05/15/2055(A)		1,550		1,370
BMO Mortgage Trust, Ser 2022-C1, Cl A1
2.198%, 02/15/2055		1,264		1,183
BPR Trust, Ser 2021-TY, Cl A
6.157%, ICE LIBOR USD 1 Month + 1.050%, 09/15/2038(A)(D)		745		704
BPR Trust, Ser 2022-OANA, Cl A
6.957%, TSFR1M + 1.898%, 04/15/2037(A)(D)		1,800		1,744
BPR Trust, Ser 2022-STAR, Cl A
8.291%, TSFR1M + 3.232%, 08/15/2024(A)(D)		4,600		4,592
BRAVO Residential Funding Trust, Ser 2022-NQM1, Cl A1
3.626%, 09/25/2061(A)(D)		835		785
Bunker Hill Loan Depositary Trust, Ser 2019-2, Cl A1
2.879%, 07/25/2049(C)(D)		827		770
Bunker Hill Loan Depositary Trust, Ser 2019-3, Cl A1
2.724%, 11/25/2059(C)(D)		362		347
BWAY Mortgage Trust, Ser 2015-1740, Cl A
2.917%, 01/10/2035(D)		3,025		2,301
BX Commercial Mortgage Trust, Ser 2019-XL, Cl A
6.094%, TSFR1M + 1.034%, 10/15/2036(A)(D)		7,799		7,745
BX Commercial Mortgage Trust, Ser 2021-SOAR, Cl A
5.778%, ICE LIBOR USD 1 Month + 0.670%, 06/15/2038(A)(D)		1,270		1,230


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl A
5.807%, ICE LIBOR USD 1 Month + 0.700%, 09/15/2036(A)(D)	$	6,571	$	6,350
BX Commercial Mortgage Trust, Ser 2021-XL2, Cl A
5.796%, ICE LIBOR USD 1 Month + 0.689%, 10/15/2038(A)(D)		6,911		6,677
BX Trust, Ser 2019-MMP, Cl A
6.107%, ICE LIBOR USD 1 Month + 1.000%, 08/15/2036(A)(D)		2,766		2,742
BX Trust, Ser 2019-OC11, Cl A
3.202%, 12/09/2041(D)		1,945		1,693
BX Trust, Ser 2021-ARIA, Cl A
6.006%, ICE LIBOR USD 1 Month + 0.899%, 10/15/2036(A)(D)		5,110		4,942
BX Trust, Ser 2022-PSB, Cl A
7.510%, TSFR1M + 2.451%, 08/15/2039(A)(D)		1,848		1,844
BX Trust, Ser GPA, Cl A
7.224%, TSFR1M + 2.165%, 10/15/2039(A)(D)		2,575		2,573
CALI Mortgage Trust, Ser 2019-101C, Cl A
3.957%, 03/10/2039(D)		1,905		1,658
CD Commercial Mortgage Trust, Ser 2006-CD2, Cl X, IO
0.023%, 01/15/2046(A)(D)		57		–
CD Commercial Mortgage Trust, Ser 2017-CD3, Cl A4
3.631%, 02/10/2050		1,240		1,141
CFCRE Commercial Mortgage Trust, Ser 2017-C8, Cl ASB
3.367%, 06/15/2050		558		534
Chase Mortgage Finance Trust, Ser 2007-A1, Cl 9A1
4.292%, 02/25/2037(A)		11		10
Chase Mortgage Finance Trust, Ser 2007-A1, Cl 2A1
4.108%, 02/25/2037(A)		14		13
Chase Mortgage Finance Trust, Ser 2007-A2, Cl 1A1
4.521%, 06/25/2035(A)		15		14
Chevy Chase Funding Mortgage-Backed Certificates, Ser 2003-4X, Cl A2
5.984%, ICE LIBOR USD 1 Month + 0.780%, 10/25/2034(A)		635		601
CIM Trust, Ser 2018-INV1, Cl A4
4.000%, 08/25/2048(A)(D)		126		117
CIM Trust, Ser 2021-INV1, Cl A2
2.500%, 07/01/2051(A)(D)		15,698		12,716
CIM Trust, Ser 2021-R6, Cl A1
1.425%, 07/25/2061(A)(D)		2,221		1,916


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
CIM Trust, Ser 2022-R2, Cl A1
3.750%, 12/25/2061(A)(D)	$	1,352	$	1,260
Citigroup Commercial Mortgage Trust, Ser 2014-GC21, Cl A5
3.855%, 05/10/2047		465		455
Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Cl AS
4.017%, 10/10/2047		880		839
Citigroup Commercial Mortgage Trust, Ser 2016-P6, Cl A4
3.458%, 12/10/2049		355		332
Citigroup Commercial Mortgage Trust, Ser 2019-GC41, Cl A5
2.869%, 08/10/2056		4,120		3,586
Citigroup Global Markets Mortgage Securities VII, Ser 2003-HYB1, Cl A
4.240%, 09/25/2033(A)		13		13
Citigroup Mortgage Loan Trust, Ser 2004-UST1, Cl A6
4.295%, 08/25/2034(A)		8		8
Citigroup Mortgage Loan Trust, Ser 2009-10, Cl 1A1
4.155%, 09/25/2033(A)(D)		24		24
COLT Mortgage Loan Trust, Ser 2021-2, Cl A1
0.924%, 08/25/2066(A)(D)		1,575		1,220
COLT Mortgage Loan Trust, Ser 2021-4, Cl A1
1.397%, 10/25/2066(A)(D)		1,685		1,327
COLT Mortgage Loan Trust, Ser 2022-2, Cl A1
2.994%, 02/25/2067(C)(D)		1,706		1,522
Commercial Mortgage Pass-Through Certificates, Ser 2013-CR11, Cl A4
4.258%, 08/10/2050		5,625		5,605
Commercial Mortgage Pass-Through Certificates, Ser 2013-CR12, Cl B
4.762%, 10/10/2046(A)		190		141
Commercial Mortgage Pass-Through Certificates, Ser 2013-CR12, Cl C
5.040%, 10/10/2046(A)		90		43
Commercial Mortgage Pass-Through Certificates, Ser 2013-CR12, Cl AM
4.300%, 10/10/2046		220		192
Commercial Mortgage Pass-Through Certificates, Ser 2013-CR13, Cl A4
4.194%, 11/10/2046(A)		808		796
Commercial Mortgage Pass-Through Certificates, Ser 2013-LC13, Cl B
5.009%, 08/10/2046(A)(D)		1,150		1,137
Commercial Mortgage Pass-Through Certificates, Ser 2014-CR14, Cl B
4.586%, 02/10/2047(A)		610		580


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Commercial Mortgage Pass-Through Certificates, Ser 2014-UBS2, Cl XA, IO
1.053%, 03/10/2047(A)	$	8,993	$	29
Commercial Mortgage Pass-Through Certificates, Ser 2014-UBS3, Cl AM
4.012%, 06/10/2047		510		491
Commercial Mortgage Pass-Through Certificates, Ser 2014-UBS4, Cl A4
3.420%, 08/10/2047		1,530		1,481
Commercial Mortgage Pass-Through Certificates, Ser 2015CR26, Cl C
4.466%, 10/10/2048(A)		1,755		1,575
Commercial Mortgage Pass-Through Certificates, Ser 2015-CR27, Cl A3
3.349%, 10/10/2048		6,900		6,544
Commercial Mortgage Pass-Through Certificates, Ser 2015-LC19, Cl XA, IO
1.083%, 02/10/2048(A)		14,548		178
Commercial Mortgage Pass-Through Certificates, Ser 2015-LC23, Cl A3
3.521%, 10/10/2048		804		777
Commercial Mortgage Pass-Through Certificates, Ser 2017-PANW, Cl A
3.244%, 10/10/2029(D)		1,780		1,671
Commercial Mortgage Pass-Through Certificates, Ser 2020-CBM, Cl A2
2.896%, 02/10/2037(D)		2,230		2,090
Commercial Mortgage Pass-Through Certificates, Ser 2020-CX, Cl A
2.173%, 11/10/2046(D)		3,290		2,607
Commercial Mortgage Pass-Through Certificates, Ser COR3, Cl A2
3.961%, 05/10/2051		6,103		5,732
Countrywide Alternative Loan Trust, Ser 2004-27CB, Cl A1
6.000%, 12/25/2034		333		299
Countrywide Alternative Loan Trust, Ser 2004-J6, PO
0.000%, 11/25/2031(B)		3		3
Countrywide Alternative Loan Trust, Ser 2004-J6, Cl 2A1
6.500%, 11/25/2031		59		59
Countrywide Home Loan Mortgage Pass-Through Trust, Ser 2004-14, Cl 4A1
3.913%, 08/25/2034(A)		75		67
Countrywide Home Loan Mortgage Pass-Through Trust, Ser 2005-20, Cl A7
5.250%, 12/25/2027		76		48
Credit Suisse Mortgage Capital Certificates, Ser 2019-ICE4, Cl C
6.537%, ICE LIBOR USD 1 Month + 1.430%, 05/15/2036(A)(D)		4,145		4,104


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Credit Suisse Mortgage Capital Certificates, Ser 2019-ICE4, Cl A
6.087%, ICE LIBOR USD 1 Month + 0.980%, 05/15/2036(A)(D)	$	7,082	$	7,038
CSAIL Commercial Mortgage Trust, Ser 2015-C3, Cl A3
3.447%, 08/15/2048		849		818
CSAIL Commercial Mortgage Trust, Ser C16, Cl A2
3.067%, 06/15/2052		896		794
CSAIL Commercial Mortgage Trust, Ser CX9, Cl A5
3.446%, 09/15/2050		4,380		4,039
CSFB Mortgage-Backed Pass-Through Certificates, Ser 2003-29, Cl 5A1
7.000%, 12/25/2033		25		24
CSMC Trust, Ser 2014-USA, Cl B
4.185%, 09/15/2037(D)		3,900		3,222
CSMC Trust, Ser 2014-USA, Cl A2
3.953%, 09/15/2037(D)		3,530		3,027
CSMC Trust, Ser 2017-RPL1, Cl A1
2.750%, 07/25/2057(A)(D)		3,268		3,115
CSMC Trust, Ser 2018-J1, Cl A2
3.500%, 02/25/2048(A)(D)		2,778		2,487
CSMC Trust, Ser 2018-RPL9, Cl A
3.850%, 09/25/2057(A)(D)		3,074		2,908
CSMC Trust, Ser 2019-AFC1, Cl A1
2.573%, 07/25/2049(C)(D)		689		636
CSMC Trust, Ser 2019-NQM1, Cl A3
3.064%, 10/25/2059(C)(D)		1,523		1,455
CSMC Trust, Ser 2020-FACT, Cl A
6.457%, ICE LIBOR USD 1 Month + 1.350%, 10/15/2037(A)(D)		4,280		4,175
CSMC Trust, Ser 2021-NQM3, Cl A3
1.632%, 04/25/2066(A)(D)		1,460		1,194
CSMC Trust, Ser 2021-NQM5, Cl A1
0.938%, 05/25/2066(A)(D)		2,046		1,608
CSMC Trust, Ser 2021-NQM7, Cl A1
1.756%, 10/25/2066(A)(D)		1,215		1,016
CSMC Trust, Ser 2021-RPL2, Cl A1
0.000%, 01/25/2060(D)(E)		759		647
CSMC Trust, Ser 2021-RPL3, Cl A1
2.000%, 01/25/2060(A)(D)		2,369		2,023
CSMC Trust, Ser 2021-RPL6, Cl A1
2.000%, 10/25/2060(A)(D)		1,370		1,213
CSMC Trust, Ser 2022-ATH2, Cl A1
4.547%, 05/25/2067(A)(D)		5,550		5,353
CSMC Trust, Ser 2022-NQM1, Cl A1
2.265%, 11/25/2066(A)(D)		3,346		2,877
DBCCRE Mortgage Trust, Ser 2014-ARCP, Cl C
4.935%, 01/10/2034(A)(D)		1,020		975


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
DBCCRE Mortgage Trust, Ser 2014-ARCP, Cl A
4.238%, 01/10/2034(D)	$	2,450	$	2,381
DBJPM Mortgage Trust, Ser 2016-C1, Cl B
4.195%, 05/10/2049(A)		1,780		1,548
DC Office Trust, Ser 2019-MTC, Cl A
2.965%, 09/15/2045(D)		1,995		1,614
Deephaven Residential Mortgage Trust, Ser 2022-1, Cl A1
2.205%, 01/25/2067(A)(D)		2,616		2,324
DSLA Mortgage Loan Trust, Ser 2004-AR2, Cl A2B
5.932%, ICE LIBOR USD 1 Month + 0.800%, 11/19/2044(A)		225		209
Ellington Financial Mortgage Trust, Ser 2021-2, Cl A1
0.931%, 06/25/2066(A)(D)		1,974		1,587
Ellington Financial Mortgage Trust, Ser 2022-1, Cl A1
2.206%, 01/25/2067(A)(D)		891		750
EQUS Mortgage Trust, Ser 2021-EQAZ, Cl B
6.207%, ICE LIBOR USD 1 Month + 1.100%, 10/15/2038(A)(D)		1,560		1,497
EQUS Mortgage Trust, Ser 2021-EQAZ, Cl A
5.862%, ICE LIBOR USD 1 Month + 0.755%, 10/15/2038(A)(D)		1,931		1,868
EverBank Mortgage Loan Trust, Ser 2018-1, Cl A22
3.500%, 02/25/2048(A)(D)		534		476
FHLMC STACR REMIC Trust, Ser 2021-DNA6, Cl M2
6.473%, SOFR30A + 1.500%, 10/25/2041(A)(D)		2,300		2,235
FHLMC STACR REMIC Trust, Ser 2022-DNA1, Cl M1A
5.973%, SOFR30A + 1.000%, 01/25/2042(A)(D)		3,249		3,192
FHLMC STACR REMIC Trust, Ser 2022-DNA2, Cl M1B
7.373%, SOFR30A + 2.400%, 02/25/2042(A)(D)		1,010		997
FHLMC STACR REMIC Trust, Ser 2022-DNA2, Cl M1A
6.273%, SOFR30A + 1.300%, 02/25/2042(A)(D)		1,930		1,918
FHLMC STACR REMIC Trust, Ser 2022-DNA3, Cl M1B
7.873%, SOFR30A + 2.900%, 04/25/2042(A)(D)		2,850		2,841
FHLMC STACR REMIC Trust, Ser 2022-DNA4, Cl M1A
7.173%, SOFR30A + 2.200%, 05/25/2042(A)(D)		443		447


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
First Horizon Alternative Mortgage Securities Trust, Ser 2004-AA3, Cl A1
5.106%, 09/25/2034(A)	$	21	$	19
FIVE Mortgage Trust, Ser V1, Cl A3
5.668%, 02/10/2056(A)		1,100		1,113
Flagstar Mortgage Trust, Ser 2018-2, Cl A4
3.500%, 04/25/2048(A)(D)		56		54
FNMA Connecticut Avenue Securities Trust, Ser 2021-R01, Cl 1M2
6.523%, SOFR30A + 1.550%, 10/25/2041(A)(D)		1,030		1,007
Granite Point Mortgage Trust, Ser 2021-FL3, Cl A
6.361%, ICE LIBOR USD 1 Month + 1.250%, 07/16/2035(A)(D)		1,325		1,305
GS Mortgage Securities II, Ser 2018-SRP5, Cl A
6.907%, ICE LIBOR USD 1 Month + 1.800%, 09/15/2031(A)(D)		3,391		2,751
GS Mortgage Securities II, Ser 2018-SRP5, Cl B
8.107%, ICE LIBOR USD 1 Month + 3.000%, 09/15/2031(A)(D)		3,391		1,722
GS Mortgage Securities II, Ser 2021-ARDN, Cl B
6.757%, ICE LIBOR USD 1 Month + 1.650%, 11/15/2036(A)(D)		3,062		2,935
GS Mortgage Securities Trust, Ser 2013-GC14, Cl A5
4.243%, 08/10/2046		829		827
GS Mortgage Securities Trust, Ser 2013-GC16, Cl B
5.161%, 11/10/2046(A)		390		383
GS Mortgage Securities Trust, Ser 2017-SLP, Cl C
3.924%, 10/10/2032(D)		4,610		4,392
GS Mortgage Securities Trust, Ser 2020-GSA2, Cl A4
1.721%, 12/12/2053		2,606		2,070
GS Mortgage Securities Trust, Ser 2021-ROSS, Cl A
6.258%, ICE LIBOR USD 1 Month + 1.150%, 05/15/2026(A)(D)		1,000		905
GS Mortgage Securities Trust, Ser GC18, Cl A4
4.074%, 01/10/2047		2,005		1,970
GS Mortgage Securities Trust, Ser GC32, Cl A3
3.498%, 07/10/2048		879		840
GS Mortgage-Backed Securities Trust, Ser 2018-RPL1, Cl A1A
3.750%, 10/25/2057(D)		2,824		2,700


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GS Mortgage-Backed Securities Trust, Ser 2021-RPL1, Cl A2
2.000%, 12/25/2060(A)(D)	$	1,111	$	892
GS Mortgage-Backed Securities Trust, Ser 2022-PJ2, Cl A24
3.000%, 06/25/2052(A)(D)		2,157		1,910
GSMPS Mortgage Loan Trust, Ser 1998-1, Cl A
8.000%, 09/19/2027(A)(D)		1		1
GSMPS Mortgage Loan Trust, Ser 2005-RP3, Cl 1AS, IO
0.101%, 09/25/2035(A)(D)		136		2
GSR Mortgage Loan Trust, Ser 2004-8F, Cl 2A3
6.000%, 09/25/2034		26		26
GSR Mortgage Loan Trust, Ser 2007-1F, Cl 2A4
5.500%, 01/25/2037		4		5
HarborView Mortgage Loan Trust, Ser 2005-9, Cl 2A1C
6.048%, ICE LIBOR USD 1 Month + 0.900%, 06/20/2035(A)		974		881
Hudson Yards Mortgage Trust, Ser 2019-30HY, Cl A
3.228%, 07/10/2039(D)		1,900		1,647
Hudson Yards Mortgage Trust, Ser 2019-55HY, Cl A
2.943%, 12/10/2041(A)(D)		1,995		1,695
Impac CMB Trust, Ser 2005-4, Cl 2A1
5.738%, ICE LIBOR USD 1 Month + 0.300%, 05/25/2035(A)		71		64
Impact Funding Affordable Multifamily Housing Mortgage Loan Trust, Ser 2010-1, Cl A1
5.314%, 01/25/2051(D)		999		972
Indymac Index Mortgage Loan Trust, Ser 2004-AR7, Cl A2
5.998%, ICE LIBOR USD 1 Month + 0.860%, 09/25/2034(A)		9		8
Indymac Index Mortgage Loan Trust, Ser 2004-AR8, Cl 2A2A
5.938%, ICE LIBOR USD 1 Month + 0.800%, 11/25/2034(A)		15		13
JPMBB Commercial Mortgage Securities Trust, Ser 2013-C15, Cl AS
4.420%, 11/15/2045		1,840		1,804
JPMBB Commercial Mortgage Securities Trust, Ser 2013-C17, Cl A4
4.199%, 01/15/2047		505		498
JPMBB Commercial Mortgage Securities Trust, Ser 2013-C17, Cl B
4.883%, 01/15/2047(A)		230		208


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
JPMBB Commercial Mortgage Securities Trust, Ser 2014-C21, Cl AS
3.997%, 08/15/2047	$	2,730	$	2,611
JPMBB Commercial Mortgage Securities Trust, Ser 2014-C22, Cl C
4.547%, 09/15/2047(A)		750		606
JPMBB Commercial Mortgage Securities Trust, Ser 2014-C23, Cl A4
3.670%, 09/15/2047		566		550
JPMBB Commercial Mortgage Securities Trust, Ser 2015-C28, Cl A3
2.912%, 10/15/2048		2,344		2,233
JPMBB Commercial Mortgage Securities Trust, Ser 2015-C30, Cl A5
3.822%, 07/15/2048		1,410		1,338
JPMDB Commercial Mortgage Securities Trust, Ser 2017-C5, Cl B
4.009%, 03/15/2050(A)		1,740		1,432
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2006-C16, Cl A4
4.166%, 12/15/2046		2,143		2,126
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2006-CB15, Cl X1, IO
0.551%, 06/12/2043(A)		152		–
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2016-JP2, Cl A4
2.822%, 08/15/2049		1,400		1,285
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2016-JP4, Cl A3
3.393%, 12/15/2049		485		452
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2019-OSB, Cl A
3.397%, 06/05/2039(D)		2,000		1,761
JPMorgan Chase Commercial Mortgage Securities Trust, Ser ACB, Cl A
6.272%, SOFR30A + 1.400%, 03/15/2039(A)(D)		1,550		1,515
JPMorgan Mortgage Trust, Ser 2004-A3, Cl SF3
4.274%, 06/25/2034(A)		176		164
JPMorgan Mortgage Trust, Ser 2005-A1, Cl 3A4
4.125%, 02/25/2035(A)		39		37
JPMorgan Mortgage Trust, Ser 2005-A2, Cl 5A2
4.399%, 04/25/2035(A)		2		2
JPMorgan Mortgage Trust, Ser 2006-A2, Cl 5A3
4.194%, 11/25/2033(A)		40		39
JPMorgan Mortgage Trust, Ser 2006-A2, Cl 4A1
4.157%, 08/25/2034(A)		62		62


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
JPMorgan Mortgage Trust, Ser 2017-5, Cl A2
3.339%, 10/26/2048(A)(D)	$	3,099	$	2,948
JPMorgan Mortgage Trust, Ser 2018-3, Cl A1
3.500%, 09/25/2048(A)(D)		362		322
JPMorgan Mortgage Trust, Ser 2018-4, Cl A1
3.500%, 10/25/2048(A)(D)		286		257
JPMorgan Mortgage Trust, Ser 2018-5, Cl A1
3.500%, 10/25/2048(A)(D)		356		317
JPMorgan Mortgage Trust, Ser 2019-LTV3, Cl B2
4.381%, 03/25/2050(A)(D)		931		847
JPMorgan Mortgage Trust, Ser 2020-1, Cl A3A
3.000%, 06/25/2050(A)(D)		356		305
JPMorgan Mortgage Trust, Ser 2021-1, Cl A3
2.500%, 06/25/2051(A)(D)		9,002		7,303
JPMorgan Mortgage Trust, Ser 2021-10, Cl A3
2.500%, 12/25/2051(A)(D)		8,693		7,042
JPMorgan Mortgage Trust, Ser 2021-11, Cl A3
2.500%, 01/25/2052(A)(D)		1,862		1,508
JPMorgan Mortgage Trust, Ser 2021-14, Cl A3
2.500%, 05/25/2052(A)(D)		10,960		8,878
JPMorgan Mortgage Trust, Ser 2021-INV2, Cl A2
2.500%, 12/25/2051(A)(D)		3,714		3,013
JPMorgan Mortgage Trust, Ser 2022-1, Cl A3
2.500%, 07/25/2052(A)(D)		10,048		8,140
JPMorgan Mortgage Trust, Ser 2022-3, Cl A2
3.000%, 08/25/2052(A)(D)		2,657		2,239
Manhattan West Mortgage Trust, Ser 2020-1MW, Cl A
2.130%, 09/10/2039(D)		2,300		1,988
MASTR Adjustable Rate Mortgages Trust, Ser 2004-13, Cl 3A7A
4.142%, 11/21/2034(A)		686		652
MASTR Alternative Loans Trust, Ser 2004-4, Cl 1A1
5.500%, 05/25/2034		149		144
MASTR Alternative Loans Trust, Ser 2006-3, Cl 1A3
6.250%, 07/25/2036		164		97
MASTR Reperforming Loan Trust, Ser 2005-1, Cl 1A1
6.000%, 08/25/2034(D)		1,075		723


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
MASTR Reperforming Loan Trust, Ser 2005-2, Cl 1A1F
5.488%, ICE LIBOR USD 1 Month + 0.350%, 05/25/2035(A)(D)	$	190	$	98
MASTR Resecuritization Trust, Ser 2005-PO, Cl 3, PO
0.000%, 05/28/2035(B)(D)		5		3
MASTR Seasoned Securitization Trust, Ser 2004-1, Cl 4A1
4.220%, 10/25/2032(A)		2		2
MASTR Seasoned Securitization Trust, Ser 2005-1, Cl 4A1
4.321%, 10/25/2032(A)		20		19
Med Trust, Ser 2021-MDLN, Cl A
6.058%, ICE LIBOR USD 1 Month + 0.950%, 11/15/2038(A)(D)		3,094		2,999
Merrill Lynch Mortgage Investors Trust, Ser 2003-A4, Cl 2A
5.311%, 07/25/2033(A)		19		17
Merrill Lynch Mortgage Investors Trust, Ser 2004-1, Cl 2A1
3.876%, 12/25/2034(A)		47		44
Merrill Lynch Mortgage Investors Trust, Ser 2004-A1, Cl 2A1
4.060%, 02/25/2034(A)		19		18
Merrill Lynch Mortgage Investors Trust, Ser 2004-A4, Cl A2
3.990%, 08/25/2034(A)		29		27
Merrill Lynch Mortgage Investors Trust, Ser 2004-D, Cl A2
5.997%, ICE LIBOR USD 6 Month + 0.720%, 09/25/2029(A)		31		29
Merrill Lynch Mortgage Investors Trust, Ser 2006-1, Cl 1A
3.613%, 02/25/2036(A)		15		14
MFA Trust, Ser 2021-NQM2, Cl A1
1.029%, 11/25/2064(A)(D)		682		565
MFA Trust, Ser 2021-RPL1, Cl A1
1.131%, 07/25/2060(A)(D)		1,015		901
MFA Trust, Ser 2022-NQM2, Cl A1
4.000%, 05/25/2067(C)(D)		1,862		1,772
Mill City Mortgage Loan Trust, Ser 2019-1, Cl A1
3.250%, 10/25/2069(A)(D)		1,729		1,641
Mill City Mortgage Loan Trust, Ser 2021-NMR1, Cl A1
1.125%, 11/25/2060(A)(D)		1,398		1,293
MKT Mortgage Trust, Ser 2020-525M, Cl A
2.694%, 02/12/2040(D)		1,655		1,280
Morgan Stanley Capital I Trust, Ser 2016-BNK2, Cl XA, IO
0.961%, 11/15/2049(A)		13,371		333


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Capital I Trust, Ser 2019-BPR, Cl A
7.007%, ICE LIBOR USD 1 Month + 1.650%, 05/15/2036(A)(D)	$	2,382	$	2,304
Morgan Stanley Capital I Trust, Ser 2020-HR8, Cl A3
1.790%, 07/15/2053		1,356		1,086
Morgan Stanley Capital I Trust, Ser 2020-L4, Cl ASB
2.624%, 02/15/2053		3,930		3,533
Morgan Stanley Capital I Trust, Ser L8, Cl AS
3.794%, 04/15/2055(A)		1,210		1,037
Morgan Stanley Mortgage Loan Trust, Ser 2004-3, Cl 4A
5.651%, 04/25/2034(A)		63		61
Morgan Stanley Residential Mortgage Loan Trust, Ser 2021-2, Cl A3
2.500%, 05/25/2051(A)(D)		9,650		7,829
Mortgage Loan Resecuritization Trust, Ser 2009-RS1, Cl A85
5.374%, ICE LIBOR USD 1 Month + 0.340%, 04/16/2036(A)(D)		2,357		2,231
MSBAM Commercial Mortgage Securities Trust, Ser 2012-CKSV, Cl A2
3.277%, 10/15/2030(D)		145		115
MSCG Trust, Ser 2015-ALDR, Cl A2
3.462%, 06/07/2035(A)(D)		3,115		2,856
New Residential Mortgage Loan Trust, Ser 2015-2A, Cl A1
3.750%, 08/25/2055(A)(D)		1,035		966
New Residential Mortgage Loan Trust, Ser 2017-4A, Cl A1
4.000%, 05/25/2057(A)(D)		1,772		1,641
New Residential Mortgage Loan Trust, Ser 2019-4A, Cl A1B
3.500%, 12/25/2058(A)(D)		1,483		1,375
New Residential Mortgage Loan Trust, Ser 2019-6A, Cl B1
4.000%, 09/25/2059(A)(D)		1,456		1,342
New Residential Mortgage Loan Trust, Ser 2019-6A, Cl A1B
3.500%, 09/25/2059(A)(D)		1,957		1,807
New Residential Mortgage Loan Trust, Ser 2019-NQM4, Cl A1
2.492%, 09/25/2059(A)(D)		263		240
New Residential Mortgage Loan Trust, Ser 2021-NQM3, Cl A1
1.156%, 11/27/2056(A)(D)		781		640
New Residential Mortgage Loan Trust, Ser 2022-NQM4, Cl A1
5.000%, 06/25/2062(C)(D)		1,187		1,154


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
New York Mortgage Trust, Ser 2006-1, Cl 2A2
3.974%, 05/25/2036(A)	$	42	$	36
NewRez Warehouse Securitization Trust, Ser 2021-1, Cl A
5.888%, ICE LIBOR USD 1 Month + 0.750%, 05/25/2055(A)(D)		4,007		3,971
OBX Trust, Ser 2019-EXP1, Cl 1A3
4.000%, 01/25/2059(A)(D)		34		32
OBX Trust, Ser 2020-EXP3, Cl 2A1A
6.038%, ICE LIBOR USD 1 Month + 0.900%, 01/25/2060(A)(D)		66		65
OBX Trust, Ser 2021-NQM2, Cl A1
1.101%, 05/25/2061(A)(D)		767		612
OBX Trust, Ser 2021-NQM3, Cl A1
1.054%, 07/25/2061(A)(D)		1,110		847
OBX Trust, Ser 2022-NQM1, Cl A1
2.305%, 11/25/2061(A)(D)		6,382		5,427
Oceanview Mortgage Trust, Ser 2021-3, Cl A5
2.500%, 07/25/2051(A)(D)		6,906		6,012
One Bryant Park Trust, Ser 2019-OBP, Cl A
2.516%, 09/15/2054(D)		2,490		2,040
Onslow Bay Mortgage Loan Trust, Ser 2021-NQM4, Cl A1
1.957%, 10/25/2061(A)(D)		956		787
OPG Trust, Ser PORT, Cl A
5.591%, ICE LIBOR USD 1 Month + 0.484%, 10/15/2036(A)(D)		2,757		2,653
Prime Mortgage Trust, Ser 2004-CL1, Cl 1, PO
0.000%, 02/25/2034(B)		3		3
Prime Mortgage Trust, Ser 2004-CL1, Cl 1A1
6.000%, 02/25/2034		18		17
PRKCM Trust, Ser 2021-AFC1, Cl A1
1.510%, 08/25/2056(A)(D)		1,198		948
PRKCM Trust, Ser 2021-AFC2, Cl A1
2.071%, 11/25/2056(A)(D)		888		739
RALI Trust, Ser 2005-QO2, Cl A1
5.103%, 12 Month Treas Avg + 1.360%, 09/25/2045(A)		191		168
RALI Trust, Ser 2005-QO5, Cl A1
4.743%, 12 Month Treas Avg + 1.000%, 01/25/2046(A)		281		234
RAMP Trust, Ser 2004-SL1, Cl A7
7.000%, 11/25/2031		21		18
Rate Mortgage Trust, Ser 2021-HB1, Cl A1
2.500%, 12/25/2051(A)(D)		5,241		4,219
Rate Mortgage Trust, Ser 2021-J1, Cl A1
2.500%, 07/25/2051(A)(D)		1,058		857
Rate Mortgage Trust, Ser 2021-J1, Cl A7
2.500%, 07/25/2051(A)(D)		869		751


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Rate Mortgage Trust, Ser 2021-J4, Cl A7
2.500%, 11/25/2051(A)(D)	$	11,804	$	10,151
Rate Mortgage Trust, Ser 2022-J1, Cl A7
3.000%, 01/25/2052(A)(D)		2,292		1,931
RBS Commercial Funding Trust, Ser 2013-GSP, Cl A
3.834%, 01/15/2032(A)(D)		670		643
Residential Asset Securitization Trust, Ser 2004-IP2, Cl 2A1
3.523%, 12/25/2034(A)		184		156
Residential Mortgage Loan Trust, Ser 2020-2, Cl A1
1.654%, 05/25/2060(A)(D)		438		428
Rocket Mortgage Trust, Ser 2021-3, Cl A1
2.500%, 07/25/2051(A)(D)		1,258		1,019
Rocket Mortgage Trust, Ser 2022-2, Cl A2
2.500%, 02/25/2052(A)(D)		1,560		1,260
Sequoia Mortgage Trust, Ser 2004-12, Cl A3
5.507%, ICE LIBOR USD 6 Month + 0.320%, 01/20/2035(A)		79		73
Sequoia Mortgage Trust, Ser 2018-CH4, Cl B1B
4.979%, 10/25/2048(A)(D)		2,293		2,228
SFAVE Commercial Mortgage Securities Trust, Ser 2015-5AVE, Cl A2B
4.144%, 01/05/2043(A)(D)		115		80
SG Residential Mortgage Trust, Ser 2022-1, Cl A1
3.166%, 03/27/2062(A)(D)		3,805		3,433
SMRT, Ser 2022-MINI, Cl A
6.060%, TSFR1M + 1.000%, 01/15/2039(A)(D)		7,460		7,236
STAR Trust, Ser 2021-1, Cl A1
1.219%, 05/25/2065(A)(D)		566		487
Starwood Mortgage Residential Trust, Ser 2020-1, Cl A1
2.275%, 02/25/2050(A)(D)		93		87
Starwood Mortgage Residential Trust, Ser 2020-3, Cl A1
1.486%, 04/25/2065(A)(D)		433		399
Starwood Mortgage Residential Trust, Ser 2020-INV1, Cl A1
1.027%, 11/25/2055(A)(D)		392		344
Starwood Mortgage Residential Trust, Ser 2021-4, Cl A1
1.162%, 08/25/2056(A)(D)		1,534		1,289
Structured Asset Mortgage Investments II Trust, Ser 2004-AR5, Cl 1A1
5.792%, ICE LIBOR USD 1 Month + 0.660%, 10/19/2034(A)		39		36


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Structured Asset Mortgage Investments II Trust, Ser 2005-AR1, Cl A1
5.612%, ICE LIBOR USD 1 Month + 0.480%, 04/19/2035(A)	$	815	$	733
Structured Asset Securities, Ser 2003-31A, Cl 2A7
5.533%, 10/25/2033(A)		931		895
Structured Asset Securities, Ser 2003-37A, Cl 2A
4.472%, 12/25/2033(A)		26		24
Thornburg Mortgage Securities Trust, Ser 2003-4, Cl A1
5.778%, ICE LIBOR USD 1 Month + 0.640%, 09/25/2043(A)		82		77
Towd Point Mortgage Trust, Ser 2017-4, Cl B2
3.543%, 06/25/2057(A)(D)		1,860		1,457
Towd Point Mortgage Trust, Ser 2018-2, Cl A1
3.250%, 03/25/2058(A)(D)		473		452
Towd Point Mortgage Trust, Ser 2019-4, Cl A1
2.900%, 10/25/2059(A)(D)		1,293		1,204
Towd Point Mortgage Trust, Ser 2020-3, Cl A1
3.088%, 02/25/2063(A)(D)		1,488		1,394
Towd Point Mortgage Trust, Ser 2021-1, Cl A1
2.250%, 11/25/2061(A)(D)		1,211		1,083
Towd Point Mortgage Trust, Ser 2022-4, Cl A1
3.750%, 09/25/2062(D)		3,300		3,068
UBS Commercial Mortgage Trust, Ser 2018-C11, Cl B
4.713%, 06/15/2051(A)		1,750		1,491
UBS Commercial Mortgage Trust, Ser C4, Cl A3
3.301%, 10/15/2050		802		738
Verus Securitization Trust, Ser 2019-4, Cl A1
2.642%, 11/25/2059(C)(D)		436		418
Verus Securitization Trust, Ser 2019-INV2, Cl A1
2.913%, 07/25/2059(A)(D)		212		204
Verus Securitization Trust, Ser 2019-INV3, Cl A1
2.692%, 11/25/2059(A)(D)		531		509
Verus Securitization Trust, Ser 2020-2, Cl A1
2.226%, 05/25/2060(A)(D)		299		287
Verus Securitization Trust, Ser 2020-5, Cl A1
1.218%, 05/25/2065(C)(D)		196		178
Verus Securitization Trust, Ser 2021-1, Cl A1
0.815%, 01/25/2066(A)(D)		720		613


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Verus Securitization Trust, Ser 2021-2, Cl A1
1.031%, 02/25/2066(A)(D)	$	1,420	$	1,213
Verus Securitization Trust, Ser 2021-3, Cl A1
1.046%, 06/25/2066(A)(D)		1,077		897
Verus Securitization Trust, Ser 2021-4, Cl A1
0.938%, 07/25/2066(A)(D)		1,388		1,104
Verus Securitization Trust, Ser 2021-5, Cl A1
1.013%, 09/25/2066(A)(D)		4,614		3,736
Verus Securitization Trust, Ser 2021-7, Cl A1
1.829%, 10/25/2066(A)(D)		2,118		1,793
Verus Securitization Trust, Ser 2021-8, Cl A1
1.824%, 11/25/2066(A)(D)		1,524		1,297
Verus Securitization Trust, Ser 2021-R1, Cl A1
0.820%, 10/25/2063(A)(D)		600		536
Verus Securitization Trust, Ser 2021-R3, Cl A1
1.020%, 04/25/2064(A)(D)		667		590
Visio Trust, Ser 2020-1R, Cl A1
1.312%, 11/25/2055(D)		440		396
VNDO Mortgage Trust, Ser 2016-350P, Cl A
3.805%, 01/10/2035(D)		1,210		1,123
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR10, Cl A7
4.229%, 10/25/2033(A)		37		35
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR6, Cl A1
3.900%, 06/25/2033(A)		31		28
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR7, Cl A7
3.868%, 08/25/2033(A)		34		32
WaMu Mortgage Pass-Through Certificates, Ser 2003-AR9, Cl 1A6
4.155%, 09/25/2033(A)		74		68
WaMu Mortgage Pass-Through Certificates, Ser 2003-S4, Cl 2A10
3.333%, 06/25/2033(A)		7		6
WaMu Mortgage Pass-Through Certificates, Ser 2003-S9, Cl A8
5.250%, 10/25/2033		114		110
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR3, Cl A2
4.522%, 06/25/2034(A)		23		21
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR4, Cl A6
3.597%, 06/25/2034(A)		2,087		1,997
WaMu Mortgage Pass-Through Certificates, Ser 2004-AR7, Cl A6
3.539%, 07/25/2034(A)		2,511		2,371
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR15, Cl A1A1
5.658%, ICE LIBOR USD 1 Month + 0.520%, 11/25/2045(A)		5,542		5,112


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR19, Cl A1A1
5.678%, ICE LIBOR USD 1 Month + 0.540%, 12/25/2045(A)	$	2,894	$	2,783
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR1, Cl 1A1B
4.813%, 12 Month Treas Avg + 1.070%, 01/25/2046(A)		998		747
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR14, Cl 1A4
3.347%, 11/25/2036(A)		61		52
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR17, Cl 2A
3.623%, 12 Month Treas Avg + 1.500%, 12/25/2046(A)		129		122
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR17, Cl 1A1B
3.903%, 12 Month Treas Avg + 0.810%, 12/25/2046(A)		85		69
Washington Mutual Mortgage Pass-Through Certificates, Ser 2005-3, Cl CX, IO
5.500%, 05/25/2035		124		20
Washington Mutual MSC Mortgage Pass-Through Certificates, Ser 2003-MS8, Cl 1P, PO
0.000%, 05/25/2033(B)		2		2
Washington Mutual MSC Mortgage Pass-Through Certificates, Ser 2003-MS9, Cl 2P, PO
0.000%, 04/25/2033(B)		13		11
Wells Fargo Commercial Mortgage Trust, Ser C62, Cl A4
4.000%, 04/15/2055(A)		1,695		1,542
Wells Fargo Mortgage-Backed Securities Trust, Ser 2005-AR14, Cl A1
4.336%, 08/25/2035(A)		16		15
WFRBS Commercial Mortgage Trust, Ser 2013-C15, Cl A4
4.153%, 08/15/2046(A)		73		72
WFRBS Commercial Mortgage Trust, Ser 2013-C17, Cl A4
4.023%, 12/15/2046		120		119
WFRBS Commercial Mortgage Trust, Ser 2014-C19, Cl XA, IO
0.950%, 03/15/2047(A)		2,762		12
WFRBS Commercial Mortgage Trust, Ser 2014-C19, Cl B
4.723%, 03/15/2047(A)		210		203
WFRBS Commercial Mortgage Trust, Ser 2014-C21, Cl XA, IO
0.996%, 08/15/2047(A)		10,084		98


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
WFRBS Commercial Mortgage Trust, Ser 2014-C21, Cl B
4.213%, 08/15/2047(A)	$	2,180	$	1,944
WFRBS Commercial Mortgage Trust, Ser 2014-C22, Cl B
4.371%, 09/15/2057(A)		970		893
WFRBS Commercial Mortgage Trust, Ser 2014-C23, Cl XA, IO
0.549%, 10/15/2057(A)		4,000		20
WFRBS Commercial Mortgage Trust, Ser 2014-C24, Cl AS
3.931%, 11/15/2047		1,330		1,262


				486,218
Total Mortgage-Backed Securities
(Cost $3,280,812) ($ Thousands)				3,108,572



CORPORATE OBLIGATIONS — 29.6%
Communication Services — 2.9%
Alphabet
2.050%, 08/15/2050		240		147
1.900%, 08/15/2040		390		266
1.100%, 08/15/2030		400		327
0.450%, 08/15/2025		180		166
AT&T
5.550%, 08/15/2041		240		235
5.400%, 02/15/2034		3,170		3,176
5.350%, 09/01/2040		230		222
5.250%, 03/01/2037		3,057		3,004
4.850%, 03/01/2039		414		381
4.500%, 05/15/2035		2,740		2,525
4.500%, 03/09/2048		195		163
4.350%, 03/01/2029		550		533
4.350%, 06/15/2045		1,082		894
3.800%, 12/01/2057		3,739		2,660
3.650%, 09/15/2059		947		649
3.550%, 09/15/2055		423		291
3.500%, 06/01/2041		736		562
3.500%, 09/15/2053		3,786		2,628
2.550%, 12/01/2033		2,160		1,697
2.300%, 06/01/2027		1,200		1,087
2.250%, 02/01/2032		3,070		2,458
1.700%, 03/25/2026		2,230		2,039
1.650%, 02/01/2028		4,440		3,845
Charter Communications Operating LLC / Charter Communications Operating Capital
6.484%, 10/23/2045		110		100
6.384%, 10/23/2035		170		165
5.750%, 04/01/2048		2,710		2,243


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.500%, 04/01/2063	$	580	$	448
5.375%, 04/01/2038		1,480		1,248
5.375%, 05/01/2047		350		279
5.250%, 04/01/2053		485		378
5.125%, 07/01/2049		310		236
5.050%, 03/30/2029		2,000		1,918
4.908%, 07/23/2025		970		954
4.800%, 03/01/2050		4,290		3,141
4.400%, 04/01/2033		2,040		1,773
4.200%, 03/15/2028		980		916
3.750%, 02/15/2028		681		625
3.500%, 06/01/2041		396		261
3.500%, 03/01/2042		2,817		1,840
2.300%, 02/01/2032		2,000		1,506
Comcast
7.050%, 03/15/2033		50		58
5.500%, 11/15/2032		377		395
5.350%, 11/15/2027		1,513		1,556
4.950%, 10/15/2058		120		113
4.400%, 08/15/2035		3,525		3,342
4.250%, 10/15/2030		1,320		1,279
4.250%, 01/15/2033		360		344
4.200%, 08/15/2034		570		536
4.150%, 10/15/2028		2,960		2,887
4.049%, 11/01/2052		4,043		3,311
4.000%, 03/01/2048		110		91
3.999%, 11/01/2049		120		98
3.969%, 11/01/2047		2,370		1,941
3.950%, 10/15/2025		1,110		1,091
3.750%, 04/01/2040		380		317
3.450%, 02/01/2050		280		210
3.400%, 04/01/2030		1,180		1,091
3.400%, 07/15/2046		60		45
3.300%, 04/01/2027		310		296
3.250%, 11/01/2039		250		197
3.150%, 03/01/2026		800		773
2.987%, 11/01/2063		862		534
2.937%, 11/01/2056		844		541
2.887%, 11/01/2051		690		454
2.800%, 01/15/2051		470		307
1.500%, 02/15/2031		4,675		3,712
Cox Communications
2.600%, 06/15/2031 (D)		1,660		1,353
Cox Enterprises
7.375%, 07/15/2027 (D)		2,895		3,050
Discovery Communications LLC
4.000%, 09/15/2055		805		511
Fox
5.476%, 01/25/2039		270		250
4.709%, 01/25/2029		210		205
Meta Platforms
5.750%, 05/15/2063		2,258		2,248


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.600%, 05/15/2053	$	6,193	$	6,189
4.450%, 08/15/2052		1,175		994
Paramount Global
6.875%, 04/30/2036		1,175		1,149
5.900%, 10/15/2040		840		714
4.950%, 05/19/2050 (F)		930		692
4.750%, 05/15/2025		1,164		1,134
Rogers Communications
4.100%, 10/01/2023		133		132
SES GLOBAL Americas Holdings GP
5.300%, 03/25/2044 (D)		2,000		1,496
Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC
5.152%, 03/20/2028 (D)		10,500		10,423
4.738%, 03/20/2025 (D)		2,845		2,817
Take-Two Interactive Software
4.000%, 04/14/2032 (F)		1,625		1,496
Telefonica Emisiones
4.103%, 03/08/2027		150		145
Tencent Holdings MTN
3.840%, 04/22/2051 (D)		2,320		1,714
Time Warner Cable Enterprises LLC
8.375%, 07/15/2033		1,380		1,531
Time Warner Cable LLC
7.300%, 07/01/2038		100		102
6.750%, 06/15/2039		170		161
6.550%, 05/01/2037		280		267
5.875%, 11/15/2040		3,755		3,252
5.500%, 09/01/2041		4,882		4,035
T-Mobile USA
5.650%, 01/15/2053		2,342		2,339
5.050%, 07/15/2033		1,912		1,885
4.950%, 03/15/2028		1,528		1,522
4.800%, 07/15/2028		1,528		1,508
4.500%, 04/15/2050		1,610		1,372
3.875%, 04/15/2030		3,545		3,289
3.750%, 04/15/2027		7,058		6,705
3.500%, 04/15/2025		720		698
3.400%, 10/15/2052		3,585		2,512
3.300%, 02/15/2051		210		145
3.000%, 02/15/2041		480		347
2.700%, 03/15/2032		2,680		2,225
2.550%, 02/15/2031		7,221		6,040
2.250%, 02/15/2026		1,608		1,491
2.250%, 11/15/2031		790		635
1.500%, 02/15/2026		516		469
Verizon Communications
5.500%, 03/16/2047		100		99
5.250%, 03/16/2037		1,100		1,089
5.050%, 05/09/2033		2,287		2,264
4.862%, 08/21/2046		270		246
4.500%, 08/10/2033		700		661


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.400%, 11/01/2034	$	3,830	$	3,549
4.329%, 09/21/2028		2,554		2,482
4.125%, 03/16/2027		330		324
4.125%, 08/15/2046		430		352
4.016%, 12/03/2029		1,337		1,259
4.000%, 03/22/2050		1,330		1,063
3.850%, 11/01/2042		1,750		1,400
3.700%, 03/22/2061		475		339
3.400%, 03/22/2041		240		183
3.150%, 03/22/2030		580		519
3.000%, 03/22/2027 (F)		220		207
2.875%, 11/20/2050		1,110		708
2.650%, 11/20/2040		2,535		1,740
2.625%, 08/15/2026		940		883
2.550%, 03/21/2031		2,080		1,742
2.355%, 03/15/2032		3,919		3,161
2.100%, 03/22/2028		700		618
1.750%, 01/20/2031		1,640		1,295
Vodafone Group PLC
4.875%, 06/19/2049		3,011		2,592
Walt Disney
6.650%, 11/15/2037		260		298
6.200%, 12/15/2034		265		292
4.625%, 03/23/2040		1,610		1,526
3.500%, 05/13/2040		1,885		1,548
Warnermedia Holdings
6.412%, 03/15/2026		720		722
5.391%, 03/15/2062		953		741
5.141%, 03/15/2052		18,512		14,447
5.050%, 03/15/2042		7,297		5,904
4.279%, 03/15/2032		4,145		3,621
4.054%, 03/15/2029		2,230		2,037
3.755%, 03/15/2027		370		347

				213,005

Consumer Discretionary — 0.8%
Amazon.com
4.950%, 12/05/2044		600		606
4.800%, 12/05/2034		187		191
4.250%, 08/22/2057		160		142
4.050%, 08/22/2047		570		506
3.875%, 08/22/2037		5,260		4,821
3.600%, 04/13/2032		2,260		2,120
3.450%, 04/13/2029 (F)		550		525
3.300%, 04/13/2027		260		251
3.150%, 08/22/2027		160		153
3.100%, 05/12/2051		2,210		1,617
2.500%, 06/03/2050		880		572
2.100%, 05/12/2031		480		406
1.500%, 06/03/2030		540		446
1.200%, 06/03/2027		1,090		967
0.800%, 06/03/2025		880		817


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Comcast
4.000%, 08/15/2047	$	170	$	140
Daimler Finance North America LLC
2.700%, 06/14/2024 (D)		990		964
Ford Motor Credit LLC
6.800%, 05/12/2028		891		882
2.900%, 02/10/2029		1,317		1,070
General Motors
6.600%, 04/01/2036		70		71
6.250%, 10/02/2043		940		890
5.600%, 10/15/2032 (F)		280		270
5.200%, 04/01/2045		615		511
5.150%, 04/01/2038		150		133
General Motors Financial
5.850%, 04/06/2030		1,150		1,139
5.000%, 04/09/2027		465		456
4.350%, 01/17/2027		180		174
3.100%, 01/12/2032		514		414
Harley-Davidson Financial Services
6.500%, 03/10/2028 (D)		1,151		1,154
Home Depot
3.900%, 12/06/2028		80		78
3.900%, 06/15/2047		100		84
3.350%, 04/15/2050		800		597
3.300%, 04/15/2040		540		433
2.700%, 04/15/2030		480		429
2.500%, 04/15/2027		430		403
Hyatt Hotels
1.800%, 10/01/2024		2,515		2,385
Hyundai Capital America
5.600%, 03/30/2028 (D)		2,389		2,398
5.500%, 03/30/2026 (D)		1,912		1,912
Hyundai Capital America MTN
1.300%, 01/08/2026 (D)		1,452		1,302
0.800%, 01/08/2024 (D)		606		588
Las Vegas Sands
3.200%, 08/08/2024		1,480		1,427
2.900%, 06/25/2025		140		131
Lowe's
5.850%, 04/01/2063		384		374
5.750%, 07/01/2053		769		762
5.625%, 04/15/2053		1,871		1,827
5.150%, 07/01/2033		2,112		2,107
5.000%, 04/15/2040		1,690		1,558
4.500%, 04/15/2030		320		313
4.250%, 04/01/2052		1,444		1,155
2.500%, 04/15/2026		260		245
1.700%, 09/15/2028		900		772
McDonald's MTN
4.875%, 12/09/2045		670		631
4.200%, 04/01/2050		1,250		1,061
3.800%, 04/01/2028		250		241


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.700%, 01/30/2026	$	1,065	$	1,038
3.625%, 09/01/2049		355		273
3.600%, 07/01/2030		460		430
3.500%, 03/01/2027		180		174
3.500%, 07/01/2027		510		490
3.300%, 07/01/2025		480		465
2.125%, 03/01/2030		420		360
1.450%, 09/01/2025		850		789
Mercedes-Benz Finance North America LLC
0.750%, 03/01/2024 (D)		3,010		2,905
Newell Brands
4.700%, 04/01/2026		560		519
NIKE
3.375%, 03/27/2050		20		16
3.250%, 03/27/2040		330		269
2.850%, 03/27/2030		650		593
2.750%, 03/27/2027		640		606
2.400%, 03/27/2025		400		385
Sands China
5.625%, 08/08/2025		810		788
Starbucks
3.500%, 11/15/2050		940		703
3.350%, 03/12/2050		250		181
Toyota Motor Credit
4.550%, 05/17/2030		2,295		2,264
Tractor Supply
5.250%, 05/15/2033		1,645		1,636
Volkswagen Group of America Finance LLC
0.875%, 11/22/2023 (D)		2,420		2,366

				62,871

Consumer Staples — 1.9%
Adani International Container Terminal PVT
3.000%, 02/16/2031 (D)		571		453
Aetna
3.875%, 08/15/2047		360		276
2.800%, 06/15/2023		2,565		2,563
Alcon Finance
3.000%, 09/23/2029 (D)		3,845		3,414
Altria Group
5.950%, 02/14/2049		380		352
4.800%, 02/14/2029		11		11
4.400%, 02/14/2026		203		201
3.400%, 02/04/2041		970		665
2.450%, 02/04/2032		2,750		2,153
2.350%, 05/06/2025		180		170
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide
4.900%, 02/01/2046		4,580		4,350
4.700%, 02/01/2036		5,917		5,796
3.650%, 02/01/2026		1,458		1,419


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Anheuser-Busch InBev Worldwide
5.550%, 01/23/2049	$	1,120	$	1,171
5.450%, 01/23/2039		1,150		1,194
4.750%, 01/23/2029		1,890		1,904
4.600%, 04/15/2048		102		94
4.375%, 04/15/2038		2,102		1,970
4.350%, 06/01/2040		970		890
4.000%, 04/13/2028		310		303
3.500%, 06/01/2030		300		281
Bacardi
4.450%, 05/15/2025 (D)		3,780		3,701
BAT Capital
5.650%, 03/16/2052		2,925		2,501
4.758%, 09/06/2049		224		166
4.540%, 08/15/2047		4,705		3,372
4.390%, 08/15/2037		680		538
3.557%, 08/15/2027		6,795		6,247
2.726%, 03/25/2031		1,495		1,193
Bayer US Finance II LLC
4.375%, 12/15/2028 (D)		4,673		4,498
4.250%, 12/15/2025 (D)		1,490		1,446
Bayer US Finance LLC
3.375%, 10/08/2024 (D)		1,475		1,434
Bunge Finance
1.630%, 08/17/2025		790		729
Cargill
1.375%, 07/23/2023 (D)		690		686
Coca-Cola
3.375%, 03/25/2027		330		322
2.600%, 06/01/2050		200		138
2.500%, 06/01/2040		310		232
1.450%, 06/01/2027 (F)		630		572
CommonSpirit Health
3.347%, 10/01/2029		305		272
2.782%, 10/01/2030		1,930		1,638
Constellation Brands
4.900%, 05/01/2033		1,105		1,086
4.350%, 05/09/2027		600		589
3.600%, 05/09/2024		420		412
2.250%, 08/01/2031		130		106
Costco Wholesale
1.750%, 04/20/2032 (F)		560		454
1.375%, 06/20/2027		1,220		1,091
CVS Pass-Through Trust
6.036%, 12/10/2028 (F)		1,074		1,083
5.926%, 01/10/2034 (D)		128		124
5.880%, 01/10/2028		65		65
5.789%, 01/10/2026 (D)		386		381
Danone
2.947%, 11/02/2026 (D)		450		427
2.589%, 11/02/2023 (D)		1,580		1,561


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Diageo Capital PLC
5.500%, 01/24/2033	$	1,985	$	2,113
DP World MTN
5.625%, 09/25/2048 (D)		2,590		2,395
Fresenius Medical Care US Finance III
1.875%, 12/01/2026 (D)		2,440		2,122
Haleon US Capital LLC
3.625%, 03/24/2032		830		745
3.375%, 03/24/2027		770		728
3.375%, 03/24/2029		530		487
Hershey
0.900%, 06/01/2025		210		195
Imperial Brands Finance PLC
4.250%, 07/21/2025 (D)		3,165		3,049
JBS USA LUX / JBS USA Food / JBS USA Finance
3.000%, 02/02/2029 (D)		2,235		1,885
JBS USA LUX/ JBS USA Food/ JBS USA Finance
6.500%, 12/01/2052 (D)		4,230		3,827
3.000%, 05/15/2032 (D)		2,765		2,115
Kenvue
5.200%, 03/22/2063 (D)		383		385
5.050%, 03/22/2028 (D)		1,532		1,565
5.050%, 03/22/2053 (D)		957		963
4.900%, 03/22/2033 (D)		4,365		4,445
Keurig Dr Pepper
4.417%, 05/25/2025		91		90
Kimberly-Clark
3.100%, 03/26/2030		200		184
Kraft Heinz Foods
5.000%, 06/04/2042		1,585		1,477
3.000%, 06/01/2026		583		553
Mondelez International
1.500%, 05/04/2025		1,070		1,004
PepsiCo
2.875%, 10/15/2049		250		185
2.625%, 03/19/2027		80		75
2.250%, 03/19/2025		80		77
1.625%, 05/01/2030		30		25
Philip Morris International
5.750%, 11/17/2032		390		400
5.375%, 02/15/2033		4,826		4,794
5.125%, 11/17/2027		2,439		2,464
5.125%, 02/15/2030		5,331		5,276
5.000%, 11/17/2025		1,626		1,629
4.875%, 02/13/2026		1,241		1,238
4.875%, 02/15/2028		3,321		3,309
2.100%, 05/01/2030		460		380
Pilgrim's Pride
6.250%, 07/01/2033		1,355		1,320
3.500%, 03/01/2032		670		535


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Procter & Gamble
3.100%, 08/15/2023	$	140	$	140
3.000%, 03/25/2030		380		354
2.800%, 03/25/2027		130		124
Reckitt Benckiser Treasury Services PLC
2.750%, 06/26/2024 (D)		3,675		3,570
Reynolds American
8.125%, 05/01/2040		1,060		1,142
7.250%, 06/15/2037		745		783
6.150%, 09/15/2043		480		457
5.850%, 08/15/2045		4,055		3,543
Roche Holdings
2.076%, 12/13/2031 (D)		1,991		1,661
Shire Acquisitions Investments Ireland
2.875%, 09/23/2023		1,903		1,886
Takeda Pharmaceutical
4.400%, 11/26/2023		1,509		1,499
Target
2.250%, 04/15/2025		710		678
Trustees of the University of Pennsylvania
3.610%, 02/15/2119		43		30
Walmart
4.500%, 04/15/2053		1,154		1,106
4.100%, 04/15/2033		1,922		1,881
3.300%, 04/22/2024		175		173
2.375%, 09/24/2029		100		89
1.800%, 09/22/2031		200		167
1.500%, 09/22/2028		290		253

				138,264

Energy — 2.5%
Aker BP
3.100%, 07/15/2031 (D)		251		209
Apache
5.100%, 09/01/2040		110		90
4.750%, 04/15/2043		420		315
4.250%, 01/15/2030		20		18
4.250%, 01/15/2044		1,130		792
BP Capital Markets America
4.893%, 09/11/2033		1,795		1,783
4.812%, 02/13/2033		7,127		7,047
3.796%, 09/21/2025		90		88
3.633%, 04/06/2030		480		451
3.119%, 05/04/2026		400		384
3.000%, 02/24/2050		1,430		973
Cameron LNG LLC
3.302%, 01/15/2035 (D)		1,670		1,393
2.902%, 07/15/2031 (D)		1,530		1,332
Canadian Natural Resources
6.450%, 06/30/2033		200		207
Cheniere Corpus Christi Holdings LLC
3.700%, 11/15/2029		1,846		1,683


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Chevron
3.078%, 05/11/2050	$	950	$	706
2.954%, 05/16/2026		1,100		1,056
1.995%, 05/11/2027		290		266
1.554%, 05/11/2025		830		783
Chevron USA
3.850%, 01/15/2028		990		976
ConocoPhillips
6.950%, 04/15/2029		995		1,106
4.150%, 11/15/2034		458		417
Continental Resources/Oklahoma
4.900%, 06/01/2044		810		609
4.375%, 01/15/2028 (F)		810		761
3.800%, 06/01/2024		770		755
2.268%, 11/15/2026 (D)		3,665		3,277
Coterra Energy
4.375%, 03/15/2029		1,840		1,735
3.900%, 05/15/2027		1,740		1,652
Devon Energy
7.875%, 09/30/2031		1,580		1,799
5.850%, 12/15/2025		1,400		1,418
5.600%, 07/15/2041		1,360		1,262
5.250%, 10/15/2027		98		97
5.000%, 06/15/2045		1,640		1,407
4.750%, 05/15/2042		567		475
4.500%, 01/15/2030		256		241
Diamondback Energy
6.250%, 03/15/2033		2,855		2,964
3.500%, 12/01/2029		1,350		1,219
3.250%, 12/01/2026		380		362
3.125%, 03/24/2031		320		273
Ecopetrol
5.875%, 05/28/2045		3,400		2,238
Enbridge
5.700%, 03/08/2033		1,695		1,724
Energy Transfer
6.250%, 04/15/2049		1,390		1,323
6.125%, 12/15/2045		893		832
5.750%, 02/15/2033		2,789		2,797
5.500%, 06/01/2027		620		622
5.400%, 10/01/2047		2,291		1,969
5.350%, 05/15/2045		1,265		1,081
5.300%, 04/01/2044		60		51
5.300%, 04/15/2047		1,983		1,680
5.250%, 04/15/2029		2,085		2,058
5.150%, 03/15/2045		1,604		1,346
5.000%, 05/15/2050		4,225		3,456
4.950%, 05/15/2028		2,536		2,476
4.950%, 06/15/2028		280		274
4.400%, 03/15/2027		340		328
4.000%, 10/01/2027		1,870		1,768
3.750%, 05/15/2030		2,180		1,974


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.900%, 05/15/2025	$	740	$	703
Enterprise Products Operating LLC
7.550%, 04/15/2038		60		69
6.125%, 10/15/2039		145		152
5.375%, ICE LIBOR USD 3 Month + 2.570%, 02/15/2078 (A)		290		236
5.350%, 01/31/2033		1,900		1,937
4.850%, 03/15/2044		60		54
4.800%, 02/01/2049		230		205
4.200%, 01/31/2050		310		251
4.150%, 10/16/2028		1,580		1,526
3.950%, 01/31/2060		300		224
3.700%, 01/31/2051		510		379
3.125%, 07/31/2029		350		316
2.800%, 01/31/2030		1,800		1,584
EOG Resources
4.950%, 04/15/2050		1,730		1,679
4.375%, 04/15/2030		860		847
4.150%, 01/15/2026		270		267
3.900%, 04/01/2035		590		533
EQT
7.000%, 02/01/2030		900		931
Equinor
3.000%, 04/06/2027		655		619
2.875%, 04/06/2025		3,205		3,096
Exxon Mobil
4.327%, 03/19/2050		2,636		2,356
4.227%, 03/19/2040		260		238
4.114%, 03/01/2046		910		789
3.482%, 03/19/2030		730		688
3.452%, 04/15/2051		1,927		1,479
3.043%, 03/01/2026		1,140		1,100
2.992%, 03/19/2025		1,530		1,484
Galaxy Pipeline Assets Bidco
2.940%, 09/30/2040 (D)		661		532
2.625%, 03/31/2036 (D)		964		782
2.160%, 03/31/2034 (D)		1,489		1,267
1.750%, 09/30/2027 (D)		2,992		2,769
Halliburton
3.800%, 11/15/2025		28		27
Hess
6.000%, 01/15/2040		2,240		2,209
5.800%, 04/01/2047		1,150		1,102
5.600%, 02/15/2041		914		861
HF Sinclair
5.875%, 04/01/2026		1,265		1,271
KazMunayGas National JSC
6.375%, 10/24/2048 (D)		470		383
5.750%, 04/19/2047 (D)		1,390		1,066
5.375%, 04/24/2030 (D)		1,520		1,375
Kinder Morgan
5.550%, 06/01/2045		500		454


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.200%, 03/01/2048	$	1,365	$	1,177
5.050%, 02/15/2046		260		219
4.300%, 06/01/2025		1,105		1,084
4.300%, 03/01/2028		450		435
Kinder Morgan Energy Partners
5.500%, 03/01/2044		70		63
5.400%, 09/01/2044		40		36
5.000%, 03/01/2043		50		42
Lukoil Capital DAC
3.600%, 10/26/2031 (D)		2,270		1,612
MPLX
5.500%, 02/15/2049		580		517
5.200%, 03/01/2047		320		276
5.200%, 12/01/2047		470		401
5.000%, 03/01/2033		2,305		2,217
4.950%, 03/14/2052		3,813		3,139
4.800%, 02/15/2029		120		117
4.700%, 04/15/2048		1,410		1,130
4.500%, 04/15/2038		810		697
4.000%, 03/15/2028		350		332
Occidental Petroleum
7.875%, 09/15/2031		140		155
7.500%, 05/01/2031		240		261
6.950%, 07/01/2024		1,473		1,487
5.550%, 03/15/2026		2,180		2,174
4.625%, 06/15/2045		400		309
4.400%, 04/15/2046		200		151
4.200%, 03/15/2048		390		289
4.100%, 02/15/2047 (F)		1,040		754
3.400%, 04/15/2026		100		93
3.200%, 08/15/2026		1,740		1,592
3.000%, 02/15/2027		510		461
Pertamina Persero
6.000%, 05/03/2042 (D)		1,220		1,186
Petrobras Global Finance
6.850%, 06/05/2115		1,090		929
6.250%, 03/17/2024		1,730		1,738
Petroleos del Peru
4.750%, 06/19/2032 (D)		4,690		3,359
Petroleos Mexicanos
6.950%, 01/28/2060		210		125
5.950%, 01/28/2031		560		402
5.625%, 01/23/2046		1,650		906
2.460%, 12/15/2025		939		906
2.378%, 04/15/2025		348		336
Petroleos Mexicanos MTN
6.750%, 09/21/2047		6,737		4,066
Phillips 66
1.300%, 02/15/2026		925		840
Pioneer Natural Resources
2.150%, 01/15/2031		1,590		1,300
1.900%, 08/15/2030		720		585


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
1.125%, 01/15/2026	$	180	$	163
Plains All American Pipeline/PAA Finance
3.550%, 12/15/2029		895		792
Reliance Industries
3.625%, 01/12/2052 (D)		2,230		1,582
2.875%, 01/12/2032 (D)		1,280		1,075
Rockies Express Pipeline LLC
6.875%, 04/15/2040 (D)		1,270		1,092
4.950%, 07/15/2029 (D)		2,500		2,243
Sabine Pass Liquefaction LLC
5.750%, 05/15/2024		1,680		1,677
5.000%, 03/15/2027		3,145		3,108
4.500%, 05/15/2030		625		591
Saudi Arabian Oil
1.250%, 11/24/2023 (D)		840		822
Schlumberger Holdings
3.900%, 05/17/2028 (D)		857		813
Schlumberger Investment
3.650%, 12/01/2023		100		99
Shell International Finance BV
6.375%, 12/15/2038		660		737
4.550%, 08/12/2043		490		448
4.375%, 05/11/2045		990		877
4.125%, 05/11/2035		2,445		2,270
4.000%, 05/10/2046		170		143
3.750%, 09/12/2046		100		80
3.250%, 04/06/2050		930		682
2.750%, 04/06/2030		660		590
Sinopec Group Overseas Development 2014
4.375%, 04/10/2024 (D)		1,020		1,013
Spectra Energy Partners LP
3.375%, 10/15/2026		140		132
Targa Resources
5.200%, 07/01/2027		1,530		1,510
Tennessee Gas Pipeline LLC
8.375%, 06/15/2032		2,200		2,525
2.900%, 03/01/2030 (D)		2,935		2,522
TransCanada PipeLines
4.625%, 03/01/2034		2,415		2,227
Transcontinental Gas Pipe Line LLC
7.850%, 02/01/2026		1,820		1,928
Western Midstream Operating
3.350%, 02/01/2025		330		315
Williams
8.750%, 03/15/2032		1,284		1,528
7.750%, 06/15/2031		339		375
7.500%, 01/15/2031		9		10
5.750%, 06/24/2044		517		495
5.100%, 09/15/2045		670		593
4.900%, 01/15/2045		450		386


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.750%, 06/15/2027	$	410	$	391

				181,950

Financials — 11.0%
ABN AMRO Bank
2.470%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.100%, 12/13/2029 (A)(D)		2,000		1,689
Aegon
3.515%, USD ICE Swap 11:00 NY 10 Yr + 0.100%(A)(G)		2,180		1,717
Ally Financial
1.450%, 10/02/2023		1,235		1,215
American Express
5.043%, U.S. SOFR + 1.835%, 05/01/2034 (A)		3,442		3,398
4.050%, 05/03/2029		950		913
4.050%, 12/03/2042		70		61
3.950%, 08/01/2025		1,440		1,405
3.375%, 05/03/2024		540		530
2.550%, 03/04/2027		625		574
2.500%, 07/30/2024		3,000		2,902
American International Group
5.125%, 03/27/2033		711		697
3.900%, 04/01/2026		281		272
3.875%, 01/15/2035		315		272
2.500%, 06/30/2025		272		258
Antares Holdings
3.750%, 07/15/2027 (D)		1,914		1,605
Aon / Aon Global Holdings PLC
3.900%, 02/28/2052		2,480		1,913
Apollo Management Holdings
4.400%, 05/27/2026 (D)		1,015		973
Arthur J Gallagher
5.750%, 03/02/2053		1,980		1,973
Athene Global Funding
5.810%, SOFRINDX + 0.700%, 05/24/2024 (A)(D)		2,425		2,397
3.205%, 03/08/2027 (D)		1,470		1,332
2.950%, 11/12/2026 (D)		3,910		3,504
2.717%, 01/07/2029 (D)		1,245		1,027
1.985%, 08/19/2028 (D)		2,635		2,118
Athene Holding
4.125%, 01/12/2028		1,140		1,054
Avolon Holdings Funding
3.950%, 07/01/2024 (D)		535		517
3.250%, 02/15/2027 (D)		400		351
2.875%, 02/15/2025 (D)		1,420		1,325
2.528%, 11/18/2027 (D)		1,073		887


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Banco Santander
4.175%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.000%, 03/24/2028 (A)	$	200	$	188
2.746%, 05/28/2025		2,200		2,057
1.722%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.900%, 09/14/2027 (A)		655		572
Bank Gospodarstwa Krajowego MTN
5.375%, 05/22/2033 (D)		1,100		1,099
Bank of America
5.288%, U.S. SOFR + 1.910%, 04/25/2034 (A)		11,285		11,213
5.202%, U.S. SOFR + 1.630%, 04/25/2029 (A)		3,373		3,361
5.080%, U.S. SOFR + 1.290%, 01/20/2027 (A)		3,381		3,356
4.571%, U.S. SOFR + 1.830%, 04/27/2033 (A)		4,720		4,434
3.419%, TSFR3M + 1.040%, 12/20/2028 (A)		8,141		7,486
2.687%, U.S. SOFR + 1.320%, 04/22/2032 (A)		380		314
2.592%, U.S. SOFR + 2.150%, 04/29/2031 (A)		4,300		3,611
2.572%, U.S. SOFR + 1.210%, 10/20/2032 (A)		7,560		6,139
2.299%, U.S. SOFR + 1.220%, 07/21/2032 (A)		135		108
1.734%, U.S. SOFR + 0.960%, 07/22/2027 (A)		13,910		12,405
1.658%, U.S. SOFR + 0.910%, 03/11/2027 (A)		9,400		8,491
Bank of America MTN
5.000%, 01/21/2044		1,800		1,693
4.450%, 03/03/2026		1,630		1,594
4.376%, U.S. SOFR + 1.580%, 04/27/2028 (A)		2,060		1,992
4.250%, 10/22/2026		130		126
4.200%, 08/26/2024		2,720		2,675
4.083%, TSFR3M + 3.412%, 03/20/2051 (A)		2,510		2,020
4.000%, 04/01/2024		2,110		2,085
4.000%, 01/22/2025		1,580		1,543
3.974%, TSFR3M + 1.472%, 02/07/2030 (A)		2,255		2,092
3.970%, TSFR3M + 1.332%, 03/05/2029 (A)		1,780		1,679
3.705%, TSFR3M + 1.512%, 04/24/2028 (A)		2,575		2,421
3.593%, TSFR3M + 1.632%, 07/21/2028 (A)		710		662
3.500%, 04/19/2026		1,210		1,166


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.093%, TSFR3M + 1.090%, 10/01/2025 (A)	$	1,915	$	1,846
2.972%, U.S. SOFR + 1.330%, 02/04/2033 (A)		1,230		1,026
2.884%, TSFR3M + 1.452%, 10/22/2030 (A)		480		413
2.496%, TSFR3M + 1.252%, 02/13/2031 (A)		1,435		1,202
2.087%, U.S. SOFR + 1.060%, 06/14/2029 (A)		12,310		10,541
1.319%, U.S. SOFR + 1.150%, 06/19/2026 (A)		60		55
1.197%, U.S. SOFR + 1.010%, 10/24/2026 (A)		385		347
Bank of Montreal MTN
1.850%, 05/01/2025		1,360		1,274
Bank of New York Mellon
4.947%, U.S. SOFR + 1.026%, 04/26/2027 (A)		4,593		4,578
4.543%, U.S. SOFR + 1.169%, 02/01/2029 (A)		2,735		2,688
Bank of New York Mellon MTN
4.967%, U.S. SOFR + 1.606%, 04/26/2034 (A)		4,210		4,186
3.650%, 02/04/2024		150		148
3.250%, 09/11/2024		270		263
3.250%, 05/16/2027		270		255
1.600%, 04/24/2025		410		385
Bank of Nova Scotia
4.900%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.551%(A)(G)		1,385		1,261
4.588%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.050%, 05/04/2037 (A)		710		617
1.300%, 06/11/2025		760		700
Bank of Nova Scotia MTN
3.450%, 04/11/2025		1,950		1,882
Barclays PLC
7.437%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 3.500%, 11/02/2033 (A)		3,010		3,281
6.224%, U.S. SOFR + 2.980%, 05/09/2034 (A)		2,340		2,362
5.829%, U.S. SOFR + 2.210%, 05/09/2027 (A)		4,532		4,522
4.375%, 01/12/2026		4,430		4,279
Barclays PLC MTN
4.972%, ICE LIBOR USD 3 Month + 1.902%, 05/16/2029 (A)		1,070		1,021
Berkshire Hathaway Finance
4.250%, 01/15/2049		1,260		1,135
3.850%, 03/15/2052		1,890		1,542


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Blackstone Secured Lending Fund
3.625%, 01/15/2026	$	1,255	$	1,156
BNP Paribas
5.198%, ICE LIBOR USD 3 Month + 2.567%, 01/10/2030 (A)(D)		1,220		1,197
5.125%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.450%, 01/13/2029 (A)(D)		3,070		3,060
4.705%, ICE LIBOR USD 3 Month + 2.235%, 01/10/2025 (A)(D)		1,450		1,436
4.400%, 08/14/2028 (D)		1,420		1,360
3.375%, 01/09/2025 (D)		420		405
2.871%, U.S. SOFR + 1.387%, 04/19/2032 (A)(D)		2,350		1,938
2.219%, U.S. SOFR + 2.074%, 06/09/2026 (A)(D)		950		882
BNP Paribas MTN
4.375%, USD Swap Semi 30/360 5 Yr Curr + 1.483%, 03/01/2033 (A)(D)		380		347
BPCE
5.150%, 07/21/2024 (D)		1,550		1,517
BPCE MTN
5.975%, U.S. SOFR + 2.100%, 01/18/2027 (A)(D)		3,120		3,116
Brighthouse Financial
4.700%, 06/22/2047		4		3
3.850%, 12/22/2051		680		417
Brighthouse Financial Global Funding MTN
1.000%, 04/12/2024 (D)		2,965		2,839
Canadian Imperial Bank of Commerce
0.950%, 06/23/2023		750		748
Cantor Fitzgerald
4.500%, 04/14/2027 (D)		2,295		2,149
Capital One Financial
1.343%, U.S. SOFR + 0.690%, 12/06/2024 (A)		3,760		3,646
Cboe Global Markets
3.000%, 03/16/2032		2,520		2,185
Charles Schwab
5.853%, U.S. SOFR + 2.500%, 05/19/2034 (A)		1,367		1,386
5.643%, U.S. SOFR + 2.210%, 05/19/2029 (A)		6,458		6,465
Chubb INA Holdings
3.350%, 05/03/2026		420		410
CI Financial
4.100%, 06/15/2051		2,015		1,206
3.200%, 12/17/2030		2,610		1,957
Citadel
4.875%, 01/15/2027 (D)		1,240		1,194
Citigroup
8.125%, 07/15/2039		3,046		3,869


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
6.174%, U.S. SOFR + 2.661%, 05/25/2034 (A)	$	5,568	$	5,647
5.610%, U.S. SOFR + 1.546%, 09/29/2026 (A)		4,970		5,006
5.500%, 09/13/2025		1,370		1,370
5.300%, 05/06/2044		255		233
4.910%, U.S. SOFR + 2.086%, 05/24/2033 (A)		700		681
4.750%, 05/18/2046		150		126
4.658%, U.S. SOFR + 1.887%, 05/24/2028 (A)		600		590
4.650%, 07/30/2045		1,140		1,010
4.650%, 07/23/2048		280		249
4.600%, 03/09/2026		2,785		2,717
4.450%, 09/29/2027		1,380		1,326
4.412%, U.S. SOFR + 3.914%, 03/31/2031 (A)		2,020		1,911
4.400%, 06/10/2025		2,040		1,992
4.300%, 11/20/2026		590		569
4.125%, 07/25/2028		260		244
3.785%, U.S. SOFR + 1.939%, 03/17/2033 (A)		1,780		1,580
3.352%, TSFR3M + 1.158%, 04/24/2025 (A)		1,385		1,354
3.200%, 10/21/2026		565		530
3.106%, U.S. SOFR + 2.842%, 04/08/2026 (A)		560		537
3.070%, U.S. SOFR + 1.280%, 02/24/2028 (A)		1,235		1,144
3.057%, U.S. SOFR + 1.351%, 01/25/2033 (A)		8,560		7,200
2.976%, U.S. SOFR + 1.422%, 11/05/2030 (A)		2,575		2,231
2.572%, U.S. SOFR + 2.107%, 06/03/2031 (A)		12,910		10,809
2.561%, U.S. SOFR + 1.167%, 05/01/2032 (A)		4,920		4,039
2.520%, U.S. SOFR + 1.177%, 11/03/2032 (A)		2,040		1,646
Cooperatieve Rabobank UA
5.564%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.400%, 02/28/2029 (A)(D)		5,519		5,531
4.375%, 08/04/2025		1,580		1,539
3.758%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.420%, 04/06/2033 (A)(D)		3,290		2,894
3.649%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.220%, 04/06/2028 (A)(D)		780		728
Credit Agricole SA/London MTN
1.907%, U.S. SOFR + 1.676%, 06/16/2026 (A)(D)		630		582


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Credit Suisse AG/New York NY
5.000%, 07/09/2027	$	600	$	578
2.950%, 04/09/2025		790		739
Credit Suisse AG/New York NY MTN
3.625%, 09/09/2024		1,360		1,302
Credit Suisse Group
9.016%, U.S. SOFR + 5.020%, 11/15/2033 (A)(D)		6,210		7,365
6.537%, U.S. SOFR + 3.920%, 08/12/2033 (A)(D)		9,480		9,675
6.442%, U.S. SOFR + 3.700%, 08/11/2028 (A)(D)		2,269		2,261
6.373%, U.S. SOFR + 3.340%, 07/15/2026 (A)(D)(F)		1,405		1,383
4.282%, 01/09/2028 (D)		1,224		1,119
4.194%, U.S. SOFR + 3.730%, 04/01/2031 (A)(D)		2,690		2,364
3.750%, 03/26/2025		2,160		2,028
3.091%, U.S. SOFR + 1.730%, 05/14/2032 (A)(D)		6,302		5,066
2.593%, U.S. SOFR + 1.560%, 09/11/2025 (A)(D)		2,940		2,767
1.305%, SOFRINDX + 0.980%, 02/02/2027 (A)(D)		6,925		5,980
Credit Suisse NY
7.950%, 01/09/2025		1,570		1,594
7.500%, 02/15/2028		3,000		3,178
4.750%, 08/09/2024		770		750
Danske Bank
6.466%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.100%, 01/09/2026 (A)(D)		2,255		2,258
5.375%, 01/12/2024 (D)		940		933
3.244%, ICE LIBOR USD 3 Month + 1.591%, 12/20/2025 (A)(D)		1,320		1,257
1.226%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.000%, 06/22/2024 (A)(D)		550		549
Danske Bank MTN
0.976%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.550%, 09/10/2025 (A)(D)		1,110		1,035
Deutsche Bank NY
7.079%, U.S. SOFR + 3.650%, 02/10/2034 (A)		316		289
3.742%, U.S. SOFR + 2.257%, 01/07/2033 (A)		2,987		2,163
Discover Bank
4.200%, 08/08/2023		1,130		1,126
DNB Bank
1.605%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.680%, 03/30/2028 (A)(D)		1,225		1,065


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
F&G Global Funding
1.750%, 06/30/2026 (D)	$	1,580	$	1,409
Farmers Exchange Capital
7.200%, 07/15/2048 (D)		1,788		1,849
Farmers Exchange Capital II
6.151%, ICE LIBOR USD 3 Month + 3.744%, 11/01/2053 (A)(D)		4,120		4,001
Fiserv
5.600%, 03/02/2033		392		402
5.450%, 03/02/2028		1,828		1,856
Global Payments
4.950%, 08/15/2027		1,666		1,640
2.150%, 01/15/2027		2,731		2,438
Goldman Sachs Capital II
6.264%, ICE LIBOR USD 3 Month + 0.768%(A)(G)		435		328
Goldman Sachs Group
6.750%, 10/01/2037		1,629		1,738
6.250%, 02/01/2041		1,290		1,378
5.150%, 05/22/2045		1,870		1,725
4.750%, 10/21/2045		400		359
4.387%, U.S. SOFR + 1.510%, 06/15/2027 (A)		2,610		2,559
4.250%, 10/21/2025		1,090		1,062
4.223%, TSFR3M + 1.563%, 05/01/2029 (A)		500		474
3.750%, 05/22/2025		500		484
3.615%, U.S. SOFR + 1.846%, 03/15/2028 (A)		310		293
3.500%, 01/23/2025		150		145
3.500%, 04/01/2025		870		840
3.500%, 11/16/2026		2,420		2,294
3.272%, TSFR3M + 1.463%, 09/29/2025 (A)		4,160		4,023
3.210%, U.S. SOFR + 1.513%, 04/22/2042 (A)		120		88
2.908%, U.S. SOFR + 1.472%, 07/21/2042 (A)		280		195
2.650%, U.S. SOFR + 1.264%, 10/21/2032 (A)		8,995		7,369
2.383%, U.S. SOFR + 1.248%, 07/21/2032 (A)		8,860		7,134
1.948%, U.S. SOFR + 0.913%, 10/21/2027 (A)		1,706		1,519
1.542%, U.S. SOFR + 0.818%, 09/10/2027 (A)		10,060		8,873
1.431%, U.S. SOFR + 0.798%, 03/09/2027 (A)		9,675		8,692
1.217%, 12/06/2023		4,235		4,142
0.925%, U.S. SOFR + 0.486%, 10/21/2024 (A)		2,475		2,425
Guardian Life Global Funding
1.100%, 06/23/2025 (D)		290		265


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
HSBC Bank USA
7.000%, 01/15/2039	$	510	$	558
HSBC Holdings PLC
6.332%, U.S. SOFR + 2.650%, 03/09/2044 (A)		1,843		1,908
6.254%, U.S. SOFR + 2.390%, 03/09/2034 (A)		3,635		3,739
6.161%, U.S. SOFR + 1.970%, 03/09/2029 (A)		3,142		3,204
4.755%, U.S. SOFR + 2.110%, 06/09/2028 (A)		660		640
4.583%, ICE LIBOR USD 3 Month + 1.535%, 06/19/2029 (A)		660		626
4.300%, 03/08/2026		5,405		5,275
4.250%, 03/14/2024		1,190		1,171
4.250%, 08/18/2025		960		927
4.041%, ICE LIBOR USD 3 Month + 1.546%, 03/13/2028 (A)		1,030		972
3.973%, ICE LIBOR USD 3 Month + 1.610%, 05/22/2030 (A)		970		885
2.999%, U.S. SOFR + 1.430%, 03/10/2026 (A)		675		641
2.871%, U.S. SOFR + 1.410%, 11/22/2032 (A)		1,250		1,007
2.804%, U.S. SOFR + 1.187%, 05/24/2032 (A)		1,580		1,282
2.357%, U.S. SOFR + 1.947%, 08/18/2031 (A)		410		330
2.206%, U.S. SOFR + 1.285%, 08/17/2029 (A)		3,735		3,150
2.099%, U.S. SOFR + 1.929%, 06/04/2026 (A)		4,845		4,502
2.013%, U.S. SOFR + 1.732%, 09/22/2028 (A)		3,325		2,877
1.645%, U.S. SOFR + 1.538%, 04/18/2026 (A)		290		268
1.589%, U.S. SOFR + 1.290%, 05/24/2027 (A)		3,320		2,946
ING Bank
5.800%, 09/25/2023 (D)		202		202
Intercontinental Exchange
4.950%, 06/15/2052		270		256
4.600%, 03/15/2033		2,130		2,069
1.850%, 09/15/2032		3,890		3,016
Intesa Sanpaolo MTN
5.710%, 01/15/2026 (D)		1,260		1,199
5.017%, 06/26/2024 (D)		870		846
Jackson Financial
3.125%, 11/23/2031		2,780		2,155
JPMorgan Chase
8.750%, 09/01/2030		1,725		2,053
5.849%, ICE LIBOR USD 3 Month + 0.550%, 02/01/2027 (A)		2,740		2,530


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.350%, U.S. SOFR + 1.845%, 06/01/2034 (A)	$	1,132	$	1,146
4.950%, 06/01/2045		300		278
4.452%, TSFR3M + 1.592%, 12/05/2029 (A)		740		714
4.250%, 10/01/2027		2,070		2,020
4.203%, TSFR3M + 1.522%, 07/23/2029 (A)		940		900
4.125%, 12/15/2026		2,420		2,370
4.023%, TSFR3M + 1.262%, 12/05/2024 (A)		2,220		2,200
3.882%, TSFR3M + 1.622%, 07/24/2038 (A)		215		185
3.875%, 09/10/2024		440		431
3.625%, 05/13/2024		1,490		1,464
3.625%, 12/01/2027		1,000		945
3.109%, U.S. SOFR + 2.440%, 04/22/2051 (A)		210		145
2.956%, TSFR3M + 2.515%, 05/13/2031 (A)		1,760		1,504
2.947%, U.S. SOFR + 1.170%, 02/24/2028 (A)		1,470		1,360
2.739%, TSFR3M + 1.510%, 10/15/2030 (A)		1,640		1,421
2.580%, TSFR3M + 1.250%, 04/22/2032 (A)		1,212		1,009
2.545%, U.S. SOFR + 1.180%, 11/08/2032 (A)		2,640		2,164
2.522%, U.S. SOFR + 2.040%, 04/22/2031 (A)		1,960		1,664
2.301%, U.S. SOFR + 1.160%, 10/15/2025 (A)		470		449
2.083%, U.S. SOFR + 1.850%, 04/22/2026 (A)		1,280		1,203
2.069%, U.S. SOFR + 1.015%, 06/01/2029 (A)		2,525		2,185
2.005%, TSFR3M + 1.585%, 03/13/2026 (A)		75		71
1.953%, U.S. SOFR + 1.065%, 02/04/2032 (A)		3,645		2,902
1.578%, U.S. SOFR + 0.885%, 04/22/2027 (A)		10,045		9,025
1.470%, U.S. SOFR + 0.765%, 09/22/2027 (A)		7,110		6,301
1.045%, U.S. SOFR + 0.800%, 11/19/2026 (A)		1,670		1,504
0.969%, TSFR3M + 0.580%, 06/23/2025 (A)		8,540		8,121
KeyBank MTN
5.000%, 01/26/2033		2,401		2,110
KeyCorp MTN
2.250%, 04/06/2027		1,588		1,309


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
KKR Group Finance II LLC
5.500%, 02/01/2043 (D)(F)	$	120	$	109
KKR Group Finance III LLC
5.125%, 06/01/2044 (D)		1,005		873
Lehman Brothers Holdings
6.500%, 12/31/2049 (H)		4,040		–
Lehman Brothers Holdings MTN
6.750%, 12/31/2049 (H)		10,370		–
Lehman Brothers Holdings Capital Trust VII MTN
5.857%, ICE LIBOR USD 3 Month + 0.840%(G)(H)		20,630		–
Lloyds Bank PLC
3.500%, 05/14/2025		100		96
Lloyds Banking Group PLC
4.976%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.300%, 08/11/2033 (A)		2,750		2,602
4.375%, 03/22/2028		1,180		1,136
3.870%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 3.500%, 07/09/2025 (A)		530		517
3.750%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.800%, 03/18/2028 (A)		200		187
3.574%, ICE LIBOR USD 3 Month + 1.205%, 11/07/2028 (A)		1,710		1,563
1.627%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.850%, 05/11/2027 (A)		3,000		2,680
M&T Bank
5.053%, U.S. SOFR + 1.850%, 01/27/2034 (A)		1,414		1,305
Macquarie Group
4.442%, U.S. SOFR + 2.405%, 06/21/2033 (A)(D)		1,085		984
1.340%, U.S. SOFR + 1.069%, 01/12/2027 (A)(D)		2,395		2,144
Macquarie Group MTN
5.033%, ICE LIBOR USD 3 Month + 1.750%, 01/15/2030 (A)(D)		635		625
2.871%, U.S. SOFR + 1.532%, 01/14/2033 (A)(D)		3,815		3,060
Manufacturers & Traders Trust
4.700%, 01/27/2028		1,119		1,047
Marsh & McLennan
5.750%, 11/01/2032		1,510		1,594
MassMutual Global Funding II MTN
0.850%, 06/09/2023 (D)		2,220		2,218
Mastercard
3.850%, 03/26/2050		2,850		2,428
3.375%, 04/01/2024		240		236


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Mercury General
4.400%, 03/15/2027	$	1,720	$	1,645
MetLife
6.400%, 12/15/2036		1,400		1,380
Metropolitan Life Global Funding I
3.450%, 12/18/2026 (D)		4,445		4,194
0.900%, 06/08/2023 (D)(F)		1,540		1,539
Metropolitan Life Global Funding I MTN
5.000%, 01/06/2026 (D)		2,345		2,335
3.300%, 03/21/2029 (D)		2,460		2,247
Mitsubishi UFJ Financial Group
5.719%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.080%, 02/20/2026 (A)		3,510		3,508
5.475%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.530%, 02/22/2031 (A)		992		1,001
5.441%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.630%, 02/22/2034 (A)		1,772		1,785
5.422%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.380%, 02/22/2029 (A)		1,617		1,620
5.406%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.970%, 04/19/2034 (A)		1,576		1,583
5.063%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.550%, 09/12/2025 (A)		3,240		3,212
4.080%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.300%, 04/19/2028 (A)		720		687
3.837%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.125%, 04/17/2026 (A)		700		675
Mizuho Financial Group
5.739%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.650%, 05/27/2031 (A)		1,620		1,647
Morgan Stanley
6.342%, U.S. SOFR + 2.560%, 10/18/2033 (A)		2,617		2,803
5.948%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.430%, 01/19/2038 (A)		1,170		1,156
5.250%, U.S. SOFR + 1.870%, 04/21/2034 (A)		4,456		4,425
5.164%, U.S. SOFR + 1.590%, 04/20/2029 (A)		755		752
5.123%, U.S. SOFR + 1.730%, 02/01/2029 (A)		755		751
2.484%, U.S. SOFR + 1.360%, 09/16/2036 (A)		1,970		1,487


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
1.593%, U.S. SOFR + 0.879%, 05/04/2027 (A)	$	1,745	$	1,569
Morgan Stanley MTN
4.431%, TSFR3M + 1.628%, 01/23/2030 (A)		70		67
4.350%, 09/08/2026		235		229
4.000%, 07/23/2025		580		567
3.772%, TSFR3M + 1.140%, 01/24/2029 (A)		280		263
3.622%, U.S. SOFR + 3.120%, 04/01/2031 (A)		3,165		2,861
3.591%, ICE LIBOR USD 3 Month + 1.340%, 07/22/2028 (A)		270		252
2.699%, U.S. SOFR + 1.143%, 01/22/2031 (A)		10		9
2.511%, U.S. SOFR + 1.200%, 10/20/2032 (A)		4,190		3,401
2.475%, U.S. SOFR + 1.000%, 01/21/2028 (A)		3,660		3,323
2.239%, U.S. SOFR + 1.178%, 07/21/2032 (A)		8,485		6,769
2.188%, U.S. SOFR + 1.990%, 04/28/2026 (A)		2,020		1,907
1.512%, U.S. SOFR + 0.858%, 07/20/2027 (A)		8,545		7,609
1.164%, U.S. SOFR + 0.560%, 10/21/2025 (A)		1,770		1,653
National Securities Clearing
5.000%, 05/30/2028 (D)		1,186		1,191
1.500%, 04/23/2025 (D)		510		475
Nationwide Building Society
4.363%, ICE LIBOR USD 3 Month + 1.392%, 08/01/2024 (A)(D)		5,240		5,220
Nationwide Building Society MTN
2.972%, U.S. SOFR + 1.290%, 02/16/2028 (A)(D)		2,565		2,323
Nationwide Mutual Insurance
7.156%, ICE LIBOR USD 3 Month + 2.290%, 12/15/2024 (A)(D)		4,407		4,402
Natwest Group PLC
4.519%, ICE LIBOR USD 3 Month + 1.550%, 06/25/2024 (A)		820		818
4.269%, ICE LIBOR USD 3 Month + 1.762%, 03/22/2025 (A)		4,630		4,552
NatWest Group PLC
7.472%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.850%, 11/10/2026 (A)		2,180		2,263
1.642%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.900%, 06/14/2027 (A)		1,640		1,451
New York Life Global Funding
0.950%, 06/24/2025 (D)		550		506


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
New York Life Insurance
3.750%, 05/15/2050 (D)	$	650	$	494
Nordea Bank ABP
1.000%, 06/09/2023 (D)		1,370		1,368
Northwestern Mutual Life Insurance
3.625%, 09/30/2059 (D)		2,966		2,119
Ohio National Financial Services
6.800%, 01/24/2030 (D)		1,775		1,639
Park Aerospace Holdings
5.500%, 02/15/2024 (D)		238		235
PayPal Holdings
4.400%, 06/01/2032 (F)		740		713
2.300%, 06/01/2030		6,150		5,222
1.650%, 06/01/2025		640		602
PNC Bank
3.875%, 04/10/2025		910		873
PNC Financial Services Group
5.068%, U.S. SOFR + 1.933%, 01/24/2034 (A)		4,540		4,383
3.500%, 01/23/2024		255		252
Principal Life Global Funding II
2.250%, 11/21/2024 (D)		2,940		2,799
1.250%, 06/23/2025 (D)		270		248
Progressive
4.950%, 06/15/2033		1,899		1,895
Prospect Capital
3.706%, 01/22/2026		785		689
Royal Bank of Canada
5.347%, 06/29/2085 (A)		860		697
Royal Bank of Canada MTN
2.250%, 11/01/2024		170		163
1.150%, 06/10/2025		730		673
Santander Holdings USA
6.499%, U.S. SOFR + 2.356%, 03/09/2029 (A)		3,129		3,172
Santander UK Group Holdings PLC
4.796%, ICE LIBOR USD 3 Month + 1.570%, 11/15/2024 (A)		4,580		4,543
2.896%, U.S. SOFR + 1.475%, 03/15/2032 (A)		350		285
2.469%, U.S. SOFR + 1.220%, 01/11/2028 (A)		705		619
1.673%, U.S. SOFR + 0.989%, 06/14/2027 (A)		1,885		1,633
1.532%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.250%, 08/21/2026 (A)		1,140		1,020
1.089%, U.S. SOFR + 0.787%, 03/15/2025 (A)		4,785		4,569
SBL Holdings
5.000%, 02/18/2031 (D)		2,382		1,936
Societe Generale
3.625%, 03/01/2041 (D)		1,370		859


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Societe Generale MTN
2.625%, 01/22/2025 (D)	$	1,345	$	1,264
Standard Chartered PLC
5.700%, 03/26/2044 (D)(F)		427		388
5.200%, 01/26/2024 (D)		410		406
State Street
3.300%, 12/16/2024		310		301
STORE Capital
4.625%, 03/15/2029		843		726
4.500%, 03/15/2028		1,767		1,525
2.750%, 11/18/2030		1,169		847
2.700%, 12/01/2031		459		316
Swedbank
1.300%, 06/02/2023 (D)		930		930
Teachers Insurance & Annuity Association of America
6.850%, 12/16/2039 (D)		148		165
4.900%, 09/15/2044 (D)		600		546
4.270%, 05/15/2047 (D)		175		145
3.300%, 05/15/2050 (D)		2,360		1,632
Toronto-Dominion Bank MTN
4.456%, 06/08/2032		4,460		4,216
2.800%, 03/10/2027		3,445		3,169
1.150%, 06/12/2025		730		673
0.750%, 06/12/2023		1,430		1,428
Travelers
4.600%, 08/01/2043		50		46
Truist Bank
3.800%, 10/30/2026		250		228
Truist Financial MTN
4.260%, U.S. SOFR + 1.456%, 07/28/2026 (A)		4,225		4,062
Trust Fibra Uno
6.390%, 01/15/2050 (D)		956		705
UBS MTN
4.500%, 06/26/2048 (D)		1,540		1,383
UBS Group
5.959%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.200%, 01/12/2034 (A)(D)		1,233		1,237
4.751%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.750%, 05/12/2028 (A)(D)		660		632
4.488%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.550%, 05/12/2026 (A)(D)		520		503
4.253%, 03/23/2028 (D)		1,490		1,392
4.125%, 09/24/2025 (D)		1,010		970
2.746%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.100%, 02/11/2033 (A)(D)		400		316


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
US Bancorp
5.850%, U.S. SOFR + 2.090%, 10/21/2033 (A)	$	960	$	969
5.727%, U.S. SOFR + 1.430%, 10/21/2026 (A)		475		472
4.839%, U.S. SOFR + 1.600%, 02/01/2034 (A)		4,725		4,434
4.653%, U.S. SOFR + 1.230%, 02/01/2029 (A)(F)		4,760		4,590
1.450%, 05/12/2025		1,610		1,489
US Bancorp MTN
3.600%, 09/11/2024		160		156
Validus Holdings
8.875%, 01/26/2040		1,460		1,780
Visa
4.300%, 12/14/2045		810		752
3.150%, 12/14/2025		420		406
WEA Finance LLC / Westfield UK & Europe Finance PLC
3.750%, 09/17/2024 (D)		1,370		1,294
Wells Fargo
7.950%, 11/15/2029		925		1,018
5.760%, ICE LIBOR USD 3 Month + 0.500%, 01/15/2027 (A)		2,395		2,162
5.606%, 01/15/2044		700		668
5.389%, U.S. SOFR + 2.020%, 04/24/2034 (A)		6,027		6,035
5.375%, 11/02/2043		220		207
4.480%, 01/16/2024		392		389
3.000%, 10/23/2026		1,640		1,530
2.188%, U.S. SOFR + 2.000%, 04/30/2026 (A)		6,380		6,001
Wells Fargo MTN
5.013%, TSFR3M + 4.502%, 04/04/2051 (A)		9,355		8,560
4.900%, 11/17/2045		1,310		1,140
4.897%, U.S. SOFR + 2.100%, 07/25/2033 (A)		8,768		8,458
4.750%, 12/07/2046		2,365		1,993
4.650%, 11/04/2044		560		475
4.478%, U.S. SOFR + 4.032%, 04/04/2031 (A)		5,280		5,025
4.400%, 06/14/2046		220		178
4.300%, 07/22/2027		1,180		1,137
4.150%, 01/24/2029		1,450		1,374
3.750%, 01/24/2024		360		356
3.584%, TSFR3M + 1.572%, 05/22/2028 (A)		3,275		3,072
3.526%, U.S. SOFR + 1.510%, 03/24/2028 (A)		5,730		5,371
3.350%, U.S. SOFR + 1.500%, 03/02/2033 (A)		7,015		6,026


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.196%, TSFR3M + 1.432%, 06/17/2027 (A)	$	3,675	$	3,449
2.879%, TSFR3M + 1.432%, 10/30/2030 (A)		2,530		2,189
2.572%, U.S. SOFR + 1.262%, 02/11/2031 (A)		415		350
2.406%, TSFR3M + 1.087%, 10/30/2025 (A)		1,190		1,137
2.393%, U.S. SOFR + 2.100%, 06/02/2028 (A)		2,610		2,333
Westpac Banking
2.668%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.750%, 11/15/2035 (A)		785		605
Willis North America
5.350%, 05/15/2033		3,010		2,960

				809,237

Health Care — 2.9%
Abbott Laboratories
4.900%, 11/30/2046		840		839
4.750%, 11/30/2036		1,591		1,601
3.750%, 11/30/2026		406		401
1.400%, 06/30/2030		1,723		1,416
AbbVie
4.875%, 11/14/2048		130		121
4.550%, 03/15/2035		1,148		1,094
4.500%, 05/14/2035		325		308
4.450%, 05/14/2046		507		437
4.300%, 05/14/2036		498		459
4.250%, 11/21/2049		8,293		7,024
4.050%, 11/21/2039		813		697
3.800%, 03/15/2025		700		685
3.750%, 11/14/2023		160		159
3.600%, 05/14/2025		560		545
3.200%, 05/14/2026		145		139
3.200%, 11/21/2029		3,595		3,263
2.950%, 11/21/2026		610		576
2.600%, 11/21/2024		2,760		2,658
Amgen
6.375%, 06/01/2037		1,785		1,941
5.650%, 03/02/2053		9,577		9,581
5.600%, 03/02/2043		2,040		2,020
5.250%, 03/02/2025		3,824		3,835
5.250%, 03/02/2033		2,420		2,428
5.150%, 03/02/2028		2,297		2,316
5.150%, 11/15/2041		316		299
4.663%, 06/15/2051		104		91
4.400%, 05/01/2045		900		762
3.625%, 05/22/2024		220		216
3.150%, 02/21/2040		880		663
2.000%, 01/15/2032		2,710		2,148


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Astrazeneca Finance LLC
4.900%, 03/03/2030	$	2,295	$	2,330
4.875%, 03/03/2028		1,680		1,701
Baxter International
3.950%, 04/01/2030		890		821
Bayer US Finance II LLC
4.875%, 06/25/2048 (D)		2,228		1,935
4.700%, 07/15/2064 (D)		400		315
4.625%, 06/25/2038 (D)		2,097		1,844
4.400%, 07/15/2044 (D)		2,750		2,201
Becton Dickinson
4.685%, 12/15/2044		412		372
3.734%, 12/15/2024		446		435
3.363%, 06/06/2024		531		520
Bristol-Myers Squibb
3.400%, 07/26/2029		253		238
3.200%, 06/15/2026		768		741
2.900%, 07/26/2024		1,352		1,320
Centene
3.000%, 10/15/2030		5,616		4,699
Cigna Group
5.400%, 03/15/2033		2,953		3,012
4.900%, 12/15/2048		140		127
4.375%, 10/15/2028		1,260		1,228
4.125%, 11/15/2025		450		441
3.750%, 07/15/2023		715		713
3.400%, 03/15/2050		1,650		1,175
3.400%, 03/15/2051		1,050		752
3.250%, 04/15/2025		1,000		966
CommonSpirit Health
4.350%, 11/01/2042		690		589
CVS Health
5.875%, 06/01/2053		906		910
5.250%, 02/21/2033		1,456		1,460
5.125%, 02/21/2030		2,745		2,736
5.125%, 07/20/2045		170		155
5.050%, 03/25/2048		9,268		8,372
5.000%, 02/20/2026		3,900		3,904
4.875%, 07/20/2035		225		214
4.780%, 03/25/2038		330		305
4.300%, 03/25/2028		1,809		1,763
4.250%, 04/01/2050		630		512
4.125%, 04/01/2040		240		200
3.875%, 07/20/2025		929		909
3.750%, 04/01/2030		1,835		1,688
3.625%, 04/01/2027		620		593
3.375%, 08/12/2024		95		93
2.125%, 09/15/2031		660		531
1.875%, 02/28/2031		210		168
DH Europe Finance II Sarl
2.200%, 11/15/2024		1,884		1,805


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Elevance Health
4.625%, 05/15/2042	$	219	$	196
4.550%, 05/15/2052		490		430
4.100%, 05/15/2032		1,090		1,025
3.650%, 12/01/2027		330		315
3.500%, 08/15/2024		1,950		1,907
3.350%, 12/01/2024		1,190		1,156
Eli Lilly
4.950%, 02/27/2063		536		532
4.875%, 02/27/2053		1,148		1,157
4.700%, 02/27/2033		760		774
Gilead Sciences
4.750%, 03/01/2046		40		37
4.600%, 09/01/2035		864		834
4.000%, 09/01/2036		613		557
3.700%, 04/01/2024		1,540		1,518
3.650%, 03/01/2026		890		864
2.600%, 10/01/2040		1,192		852
1.650%, 10/01/2030		689		563
HCA
5.900%, 06/01/2053		1,730		1,668
5.500%, 06/01/2033		1,445		1,442
5.500%, 06/15/2047		1,790		1,638
5.250%, 04/15/2025		750		744
5.250%, 06/15/2026		1,015		1,008
5.250%, 06/15/2049		2,905		2,562
5.200%, 06/01/2028		3,539		3,517
4.625%, 03/15/2052 (D)		2,650		2,134
4.125%, 06/15/2029		2,500		2,321
3.625%, 03/15/2032 (D)		4,395		3,831
3.500%, 07/15/2051		1,287		866
2.375%, 07/15/2031		1,015		815
Humana
4.950%, 10/01/2044		200		180
4.800%, 03/15/2047		50		44
4.500%, 04/01/2025		120		119
3.950%, 03/15/2027		860		829
3.850%, 10/01/2024		2,530		2,479
3.700%, 03/23/2029		7,750		7,186
2.150%, 02/03/2032		250		199
Johnson & Johnson
3.700%, 03/01/2046		970		839
2.450%, 09/01/2060		2,085		1,320
0.950%, 09/01/2027		990		870
0.550%, 09/01/2025		490		451
Mass General Brigham
3.192%, 07/01/2049		245		177
Medtronic
4.625%, 03/15/2045		123		118
Merck
5.150%, 05/17/2063		581		586
5.000%, 05/17/2053		2,365		2,380


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.500%, 05/17/2033	$	775	$	773
2.750%, 12/10/2051		1,050		716
1.450%, 06/24/2030		480		394
0.750%, 02/24/2026		840		765
Pfizer
4.000%, 12/15/2036		1,050		979
2.700%, 05/28/2050		1,400		974
2.625%, 04/01/2030		720		640
1.700%, 05/28/2030		680		567
0.800%, 05/28/2025		1,050		975
Pfizer Investment Enterprises Pte
5.340%, 05/19/2063		1,140		1,142
5.300%, 05/19/2053		3,997		4,115
4.750%, 05/19/2033		10,238		10,279
4.450%, 05/19/2026		3,801		3,781
4.450%, 05/19/2028		1,901		1,894
Roche Holdings
2.607%, 12/13/2051 (D)		2,080		1,386
Royalty Pharma PLC
1.200%, 09/02/2025		980		886
0.750%, 09/02/2023		1,650		1,628
RWJ Barnabas Health
3.949%, 07/01/2046		2,445		2,018
UnitedHealth Group
6.625%, 11/15/2037		200		229
5.875%, 02/15/2053		6,085		6,653
5.800%, 03/15/2036		560		600
5.200%, 04/15/2063		792		775
5.050%, 04/15/2053		713		700
4.625%, 07/15/2035		940		922
4.500%, 04/15/2033		1,190		1,168
4.450%, 12/15/2048		140		126
4.250%, 06/15/2048		180		157
4.200%, 05/15/2032		520		501
4.000%, 05/15/2029		2,227		2,153
3.875%, 12/15/2028		250		242
3.875%, 08/15/2059		570		450
3.750%, 07/15/2025		330		324
3.700%, 08/15/2049		140		111
3.500%, 06/15/2023		230		230
3.250%, 05/15/2051		1,768		1,290
3.125%, 05/15/2060		90		61
3.050%, 05/15/2041		360		276
2.900%, 05/15/2050		880		609
2.750%, 05/15/2040		570		422
2.300%, 05/15/2031		150		128
2.000%, 05/15/2030		220		187
1.250%, 01/15/2026		260		239
Universal Health Services
1.650%, 09/01/2026		1,260		1,109
Viatris
4.000%, 06/22/2050		1,020		655


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Wyeth LLC
6.450%, 02/01/2024	$	365	$	368
5.950%, 04/01/2037		320		352

				211,504

Industrials — 2.0%
3M
3.700%, 04/15/2050 (F)		300		226
2.375%, 08/26/2029 (F)		2,320		1,993
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
5.750%, 06/06/2028		1,745		1,730
3.400%, 10/29/2033		1,410		1,122
3.300%, 01/30/2032		7,488		6,086
3.000%, 10/29/2028		8,758		7,593
2.450%, 10/29/2026		3,970		3,540
1.650%, 10/29/2024		3,505		3,291
1.150%, 10/29/2023		7,772		7,620
Air Lease
5.850%, 12/15/2027		1,325		1,324
5.300%, 02/01/2028		830		820
3.375%, 07/01/2025		490		465
3.250%, 03/01/2025		525		500
Air Lease MTN
2.875%, 01/15/2026		3,019		2,807
2.300%, 02/01/2025		605		571
American Airlines Pass-Through Trust, Ser 2015-1, Cl A
3.375%, 05/01/2027		81		70
Boeing
7.250%, 06/15/2025		107		111
5.930%, 05/01/2060		1,963		1,913
5.805%, 05/01/2050		2,130		2,085
5.705%, 05/01/2040		1,090		1,074
5.150%, 05/01/2030		1,240		1,230
4.875%, 05/01/2025		2,290		2,267
3.750%, 02/01/2050		1,885		1,389
3.250%, 02/01/2035		3,073		2,474
3.200%, 03/01/2029		720		648
3.100%, 05/01/2026		230		217
2.800%, 03/01/2027		280		257
2.700%, 02/01/2027		340		312
2.196%, 02/04/2026		4,534		4,219
1.433%, 02/04/2024		5,034		4,883
Burlington Northern Santa Fe LLC
7.290%, 06/01/2036		200		234
4.550%, 09/01/2044		825		751
4.450%, 01/15/2053		307		279
3.650%, 09/01/2025		140		137
2.875%, 06/15/2052		610		412
Canadian Pacific Railway
6.125%, 09/15/2115		34		35


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
1.750%, 12/02/2026	$	330	$	299
1.350%, 12/02/2024		1,706		1,606
Carrier Global
3.577%, 04/05/2050		70		50
Caterpillar
4.300%, 05/15/2044		50		47
Caterpillar Financial Services MTN
4.350%, 05/15/2026		2,292		2,281
Cintas No. 2
4.000%, 05/01/2032		3,495		3,333
3.700%, 04/01/2027		590		574
Continental Airlines Pass-Through Trust, Ser 2012-2, Cl A
4.000%, 10/29/2024		40		38
CoStar Group
2.800%, 07/15/2030 (D)		1,485		1,217
Crowley Conro LLC
4.181%, 08/15/2043		754		720
Deere
3.750%, 04/15/2050 (F)		920		801
3.100%, 04/15/2030		160		147
Delta Air Lines
4.750%, 10/20/2028 (D)		5,322		5,141
Delta Air Lines Pass-Through Trust, Ser 2020-1, Cl AA
2.000%, 06/10/2028		2,552		2,243
Delta Air Lines/Skymiles LP
4.500%, 10/20/2025 (D)		1,109		1,087
Eaton
7.625%, 04/01/2024		325		330
4.150%, 11/02/2042		530		462
4.000%, 11/02/2032		99		94
Emerson Electric
2.800%, 12/21/2051		2,935		1,931
Equifax
3.950%, 06/15/2023		3,015		3,012
2.600%, 12/15/2025		445		417
General Dynamics
4.250%, 04/01/2040		1,915		1,752
4.250%, 04/01/2050		200		181
General Electric MTN
5.801%, ICE LIBOR USD 3 Month + 0.480%, 08/15/2036 (A)		3,035		2,671
Honeywell International
1.350%, 06/01/2025		510		478
ILFC E-Capital Trust II
6.798%, ICE LIBOR USD 3 Month + 1.800%, 12/21/2065 (A)(D)		1,200		807
JetBlue Pass-Through Trust, Ser 2019-1, Cl AA
2.750%, 05/15/2032		139		116


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
John Deere Capital MTN
4.900%, 03/03/2028	$	1,912	$	1,943
4.150%, 09/15/2027		3,615		3,567
3.350%, 04/18/2029		2,525		2,378
L3Harris Technologies
5.054%, 04/27/2045		330		304
4.854%, 04/27/2035		210		202
Lockheed Martin
4.750%, 02/15/2034		2,725		2,725
4.150%, 06/15/2053		2,240		1,944
3.900%, 06/15/2032		410		387
3.550%, 01/15/2026		716		701
Northrop Grumman
5.250%, 05/01/2050		3,620		3,612
4.400%, 05/01/2030		878		862
3.850%, 04/15/2045		350		282
3.250%, 01/15/2028		480		452
2.930%, 01/15/2025		2,020		1,948
Otis Worldwide
3.112%, 02/15/2040		605		460
2.056%, 04/05/2025		340		321
Parker-Hannifin
4.250%, 09/15/2027		1,990		1,940
2.700%, 06/14/2024		830		807
Quanta Services
0.950%, 10/01/2024		1,369		1,282
Raytheon Technologies
5.375%, 02/27/2053		1,235		1,250
5.150%, 02/27/2033		1,991		2,025
4.125%, 11/16/2028		480		464
3.950%, 08/16/2025		250		245
3.150%, 12/15/2024		320		309
3.125%, 07/01/2050		1,290		915
2.250%, 07/01/2030		680		576
Republic Services
5.000%, 04/01/2034		1,151		1,152
4.875%, 04/01/2029		1,151		1,154
2.500%, 08/15/2024		680		658
1.450%, 02/15/2031		4,370		3,450
Roper Technologies
1.000%, 09/15/2025		940		857
Siemens Financieringsmaatschappij
1.200%, 03/11/2026 (D)		2,830		2,581
Triton Container International
2.050%, 04/15/2026 (D)		1,490		1,311
Union Pacific
3.839%, 03/20/2060		970		755
3.750%, 07/15/2025		530		519
3.750%, 02/05/2070		700		524
3.375%, 02/14/2042		824		656
3.250%, 02/05/2050		1,065		784
2.891%, 04/06/2036		835		672


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.800%, 02/14/2032	$	990	$	858
2.375%, 05/20/2031		730		620
2.150%, 02/05/2027		270		249
United Parcel Service
5.200%, 04/01/2040		525		534
US Airways Pass-Through Trust, Ser 2012-1, Cl A
5.900%, 10/01/2024		18		18
US Airways Pass-Through Trust, Ser 2012-2, Cl A
4.625%, 06/03/2025		2,263		2,134

				147,907

Information Technology — 1.7%
Adobe
2.300%, 02/01/2030		1,300		1,146
Apple
4.850%, 05/10/2053		993		999
4.375%, 05/13/2045		1,275		1,205
4.300%, 05/10/2033 (F)		1,528		1,532
4.150%, 05/10/2030		1,146		1,145
4.100%, 08/08/2062		546		474
4.000%, 05/10/2028 (F)		2,293		2,283
3.950%, 08/08/2052		1,077		939
3.850%, 05/04/2043		375		333
3.450%, 05/06/2024		350		344
2.650%, 05/11/2050		1,057		727
2.650%, 02/08/2051		470		321
2.450%, 08/04/2026		2,200		2,083
2.375%, 02/08/2041		558		410
1.650%, 02/08/2031		795		663
1.125%, 05/11/2025		1,720		1,612
Applied Materials
1.750%, 06/01/2030		1,070		893
Broadcom
4.926%, 05/15/2037 (D)		2,237		2,012
4.150%, 11/15/2030		842		775
3.469%, 04/15/2034 (D)		770		628
3.419%, 04/15/2033 (D)		3,230		2,682
3.150%, 11/15/2025		900		859
3.137%, 11/15/2035 (D)		2,980		2,272
2.600%, 02/15/2033 (D)		1,189		925
2.450%, 02/15/2031 (D)		1,200		969
Corning
5.450%, 11/15/2079		1,395		1,234
Intel
5.900%, 02/10/2063		1,070		1,065
5.700%, 02/10/2053		763		754
5.625%, 02/10/2043		440		440
5.200%, 02/10/2033		430		432
5.125%, 02/10/2030		600		607
4.750%, 03/25/2050		480		422


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.734%, 12/08/2047	$	119	$	91
3.050%, 08/12/2051		310		204
2.800%, 08/12/2041		1,795		1,261
1.600%, 08/12/2028		650		564
International Business Machines
3.000%, 05/15/2024		2,340		2,286
KLA
4.950%, 07/15/2052		639		617
4.650%, 07/15/2032		640		639
3.300%, 03/01/2050		628		465
Kyndryl Holdings
2.050%, 10/15/2026		2,500		2,139
Lam Research
3.800%, 03/15/2025		150		147
Marvell Technology
1.650%, 04/15/2026		2,010		1,815
Micron Technology
5.875%, 02/09/2033		1,291		1,285
5.875%, 09/15/2033		210		207
5.375%, 04/15/2028		3,844		3,792
3.477%, 11/01/2051		376		241
Microsoft
4.100%, 02/06/2037		245		240
3.500%, 02/12/2035		460		434
3.450%, 08/08/2036		1,622		1,483
3.300%, 02/06/2027		2,330		2,278
3.041%, 03/17/2062		281		204
2.921%, 03/17/2052		646		478
2.875%, 02/06/2024		970		957
2.700%, 02/12/2025		360		349
2.525%, 06/01/2050		240		165
2.400%, 08/08/2026		1,990		1,887
NVIDIA
3.700%, 04/01/2060		680		537
3.500%, 04/01/2040		990		838
3.500%, 04/01/2050		2,010		1,612
2.850%, 04/01/2030		1,325		1,211
NXP BV / NXP FUNDING LLC / NXP USA
4.400%, 06/01/2027		831		808
3.250%, 05/11/2041		752		538
2.700%, 05/01/2025		430		408
2.500%, 05/11/2031		764		623
Oracle
6.900%, 11/09/2052		4,871		5,301
5.550%, 02/06/2053		1,021		953
4.900%, 02/06/2033		386		373
4.650%, 05/06/2030		610		589
4.375%, 05/15/2055		463		358
4.300%, 07/08/2034		285		257
4.000%, 07/15/2046		1,332		998
4.000%, 11/15/2047		330		246
3.950%, 03/25/2051		2,590		1,900


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.900%, 05/15/2035	$	4,951	$	4,241
3.800%, 11/15/2037		4,295		3,490
3.600%, 04/01/2040		1,834		1,389
3.600%, 04/01/2050		4,030		2,781
2.950%, 11/15/2024		675		652
2.950%, 05/15/2025		695		666
2.950%, 04/01/2030		1,415		1,238
2.875%, 03/25/2031		2,480		2,108
2.800%, 04/01/2027		625		577
1.650%, 03/25/2026		1,570		1,434
QUALCOMM
6.000%, 05/20/2053		1,729		1,871
Sprint Capital
8.750%, 03/15/2032		200		243
Sprint LLC
7.125%, 06/15/2024		2,020		2,041
Texas Instruments
5.050%, 05/18/2063		1,148		1,123
5.000%, 03/14/2053		1,916		1,912
4.900%, 03/14/2033		3,065		3,142
4.150%, 05/15/2048		1,250		1,110
1.750%, 05/04/2030		440		370
TSMC Arizona
2.500%, 10/25/2031		3,950		3,339
1.750%, 10/25/2026		1,370		1,237
TSMC Global
1.375%, 09/28/2030 (D)		3,140		2,489
VMware
4.700%, 05/15/2030		1,379		1,311
1.400%, 08/15/2026		2,232		1,976
1.000%, 08/15/2024		2,386		2,253
0.600%, 08/15/2023		3,360		3,326
Vontier
1.800%, 04/01/2026		1,170		1,040
Xilinx
2.375%, 06/01/2030		587		508

				122,830

Materials — 0.8%
Amcor Finance USA
3.625%, 04/28/2026		2,000		1,909
Anglo American Capital PLC
5.500%, 05/02/2033 (D)		1,127		1,100
4.750%, 03/16/2052 (D)		1,507		1,225
4.000%, 09/11/2027 (D)		280		265
3.625%, 09/11/2024 (D)		1,810		1,761
Barrick North America Finance LLC
5.700%, 05/30/2041		470		475
Berry Global
4.875%, 07/15/2026 (D)		3,270		3,163
1.650%, 01/15/2027		1,785		1,553


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
BHP Billiton Finance USA
5.000%, 09/30/2043	$	40	$	39
4.875%, 02/27/2026		3,827		3,843
Celanese US Holdings LLC
6.330%, 07/15/2029		1,995		2,007
6.050%, 03/15/2025		4,910		4,930
Dow Chemical
6.900%, 05/15/2053		719		801
4.800%, 05/15/2049		925		792
DuPont de Nemours
4.493%, 11/15/2025		2,095		2,072
Freeport-McMoRan
5.450%, 03/15/2043		270		245
5.400%, 11/14/2034		330		316
Glencore Finance Canada
6.900%, 11/15/2037 (D)		792		857
6.000%, 11/15/2041 (D)		280		278
5.550%, 10/25/2042 (D)		344		318
Glencore Funding LLC
5.700%, 05/08/2033 (D)		1,092		1,082
4.000%, 03/27/2027 (D)		1,570		1,499
2.625%, 09/23/2031 (D)		332		267
International Flavors & Fragrances
5.000%, 09/26/2048		2,365		1,965
2.300%, 11/01/2030 (D)		4,800		3,811
MEGlobal BV MTN
4.250%, 11/03/2026 (D)		1,440		1,392
2.625%, 04/28/2028 (D)		2,250		1,970
Nacional del Cobre de Chile
3.625%, 08/01/2027 (D)		2,570		2,439
OCP
4.500%, 10/22/2025 (D)		1,860		1,802
Orbia Advance
2.875%, 05/11/2031 (D)		1,340		1,059
1.875%, 05/11/2026 (D)		1,410		1,271
Rohm & Haas
7.850%, 07/15/2029		1,230		1,390
Southern Copper
5.250%, 11/08/2042		4,340		4,040
Suzano Austria GmbH
6.000%, 01/15/2029		2,340		2,314
Vale Overseas
6.875%, 11/21/2036		1,495		1,554
6.250%, 08/10/2026		2,290		2,361

				58,165

Real Estate — 1.1%
Agree
4.800%, 10/01/2032		720		672
2.600%, 06/15/2033		327		253
2.000%, 06/15/2028		1,436		1,209


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
American Assets Trust
3.375%, 02/01/2031	$	2,580	$	2,017
American Homes 4 Rent
4.300%, 04/15/2052		592		447
3.625%, 04/15/2032		1,322		1,143
3.375%, 07/15/2051		1,120		717
2.375%, 07/15/2031		1,320		1,048
American Tower
5.650%, 03/15/2033		2,600		2,642
5.550%, 07/15/2033		3,807		3,832
5.500%, 03/15/2028		1,530		1,546
3.125%, 01/15/2027		647		600
2.950%, 01/15/2051		383		236
2.700%, 04/15/2031		1,040		866
2.300%, 09/15/2031		588		469
1.875%, 10/15/2030		3,215		2,549
AvalonBay Communities MTN
2.450%, 01/15/2031		2,490		2,096
Boston Properties
6.500%, 01/15/2034		305		297
3.400%, 06/21/2029		1,510		1,251
2.900%, 03/15/2030		125		100
Brixmor Operating Partnership
4.050%, 07/01/2030		1,845		1,664
2.500%, 08/16/2031		1,986		1,546
Camden Property Trust
2.800%, 05/15/2030		480		416
Crown Castle
5.000%, 01/11/2028		3,061		3,036
2.900%, 03/15/2027		1,106		1,022
2.900%, 04/01/2041		765		529
Crown Castle International
1.050%, 07/15/2026		2,060		1,813
CubeSmart
2.500%, 02/15/2032		1,440		1,148
2.250%, 12/15/2028		672		573
Equinix
3.900%, 04/15/2032		4,780		4,292
Essential Properties
2.950%, 07/15/2031		2,595		1,900
Essex Portfolio
2.550%, 06/15/2031		681		556
Extra Space Storage
3.900%, 04/01/2029		1,153		1,062
2.550%, 06/01/2031		2,590		2,101
Federal Realty Investment Trust
3.950%, 01/15/2024		914		904
GLP Capital LP / GLP Financing II
5.750%, 06/01/2028		1,250		1,207
5.375%, 04/15/2026		1,305		1,267
5.300%, 01/15/2029		1,775		1,697
4.000%, 01/15/2030		1,542		1,342


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.000%, 01/15/2031	$	85	$	73
3.250%, 01/15/2032		38		31
Healthcare Realty Holdings
3.875%, 05/01/2025		1,100		1,055
3.625%, 01/15/2028		195		174
3.100%, 02/15/2030		30		26
2.050%, 03/15/2031		360		271
Healthcare Trust of America Holdings
3.500%, 08/01/2026		1,010		935
2.000%, 03/15/2031		1,335		1,023
Hudson Pacific Properties
4.650%, 04/01/2029		3,440		2,452
3.250%, 01/15/2030		180		115
Invitation Homes Operating Partnership
4.150%, 04/15/2032		1,316		1,181
2.700%, 01/15/2034		1,190		900
2.300%, 11/15/2028		155		131
2.000%, 08/15/2031		1,210		922
Life Storage
2.400%, 10/15/2031		1,945		1,550
Mid-America Apartments
4.300%, 10/15/2023		677		673
Physicians Realty
3.950%, 01/15/2028		56		51
2.625%, 11/01/2031		1,325		1,037
Piedmont Operating Partnership
4.450%, 03/15/2024		125		119
Realty Income
5.625%, 10/13/2032		1,338		1,362
4.900%, 07/15/2033		1,277		1,227
4.850%, 03/15/2030		918		898
2.850%, 12/15/2032		957		785
2.200%, 06/15/2028		708		619
Regency Centers LP
2.950%, 09/15/2029		1,810		1,574
Sabra Health Care LP
3.900%, 10/15/2029		1,335		1,100
Scentre Group Trust 1/ Scentre Group Trust 2
3.625%, 01/28/2026 (D)		1,285		1,228
Simon Property Group LP
2.450%, 09/13/2029		1,915		1,631
Sun Communities Operating
4.200%, 04/15/2032		1,322		1,154
VICI Properties
5.750%, 02/01/2027 (D)		355		350
5.625%, 05/15/2052		1,158		1,021
5.125%, 05/15/2032		2,218		2,071
4.950%, 02/15/2030		50		47
4.625%, 06/15/2025 (D)		190		183
4.500%, 09/01/2026 (D)		725		687
4.500%, 01/15/2028 (D)		416		387
4.125%, 08/15/2030 (D)		345		302


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.875%, 02/15/2029 (D)	$	1,170	$	1,034
3.750%, 02/15/2027 (D)		115		106
Welltower
4.500%, 01/15/2024		183		181
Weyerhaeuser
3.375%, 03/09/2033		2,480		2,142

				84,873

Utilities — 2.0%
Alabama Power
3.700%, 12/01/2047		1,490		1,141
American Electric Power
5.950%, 11/01/2032		630		658
5.699%, 08/15/2025		1,745		1,737
American Transmission Systems
2.650%, 01/15/2032 (D)		1,197		993
Appalachian Power
4.500%, 03/01/2049		60		50
4.450%, 06/01/2045		1,600		1,330
Baltimore Gas and Electric
5.400%, 06/01/2053		1,146		1,148
2.250%, 06/15/2031		1,024		856
Berkshire Hathaway Energy
2.850%, 05/15/2051		2,810		1,844
Boston Gas
4.487%, 02/15/2042 (D)		140		117
CenterPoint Energy Houston Electric LLC
3.600%, 03/01/2052		756		582
Comision Federal de Electricidad
4.875%, 01/15/2024 (D)		300		296
4.750%, 02/23/2027 (D)		710		677
3.875%, 07/26/2033 (D)		790		602
Commonwealth Edison
5.300%, 02/01/2053		307		308
Consolidated Edison of New York
5.200%, 03/01/2033		2,143		2,176
4.450%, 03/15/2044		2,585		2,244
3.950%, 04/01/2050		210		168
3.350%, 04/01/2030		260		237
Constellation Energy Generation LLC
5.600%, 03/01/2028		2,410		2,462
Consumers Energy
2.500%, 05/01/2060		640		365
Dominion Energy
3.071%, 08/15/2024 (C)		1,800		1,742
DTE Electric
3.650%, 03/01/2052		547		421
2.950%, 03/01/2050		1,196		812
DTE Energy
2.529%, 10/01/2024 (C)		1,775		1,706
1.050%, 06/01/2025		3,230		2,970


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Duke Energy
3.500%, 06/15/2051	$	212	$	150
3.150%, 08/15/2027		850		791
2.550%, 06/15/2031		1,800		1,490
0.900%, 09/15/2025		1,955		1,779
Duke Energy Carolinas LLC
5.350%, 01/15/2053		1,535		1,535
4.250%, 12/15/2041		1,000		868
4.000%, 09/30/2042		1,512		1,251
3.550%, 03/15/2052		926		702
2.850%, 03/15/2032		1,272		1,089
2.550%, 04/15/2031		697		598
Duke Energy Florida LLC
2.400%, 12/15/2031		1,021		841
Duke Energy Indiana LLC
2.750%, 04/01/2050		880		564
Duke Energy Ohio
5.250%, 04/01/2033		1,700		1,724
Duke Energy Progress LLC
5.250%, 03/15/2033		1,072		1,094
4.150%, 12/01/2044		250		208
2.500%, 08/15/2050		1,033		632
Entergy Arkansas LLC
5.150%, 01/15/2033		1,536		1,552
2.650%, 06/15/2051		922		571
Entergy Texas
3.450%, 12/01/2027		1,625		1,506
Evergy Metro
5.300%, 10/01/2041		250		243
Eversource Energy
5.125%, 05/15/2033		1,690		1,671
4.600%, 07/01/2027		1,125		1,108
2.900%, 10/01/2024		3,730		3,601
1.650%, 08/15/2030		1,163		929
Exelon
5.625%, 06/15/2035		1,720		1,757
5.600%, 03/15/2053		920		909
5.300%, 03/15/2033		1,157		1,165
3.950%, 06/15/2025		1,020		994
FirstEnergy
4.150%, 07/15/2027		1,310		1,254
1.600%, 01/15/2026		300		274
Florida Power & Light
4.400%, 05/15/2028		4,000		3,968
3.250%, 06/01/2024		455		446
ITC Holdings
4.050%, 07/01/2023		2,075		2,074
Jersey Central Power & Light
2.750%, 03/01/2032 (D)		1,125		935
KeySpan Gas East
3.586%, 01/18/2052 (D)		4,825		3,274
2.742%, 08/15/2026 (D)		1,175		1,078


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Louisville Gas and Electric
5.450%, 04/15/2033	$	2,285	$	2,334
Metropolitan Edison
5.200%, 04/01/2028 (D)		1,152		1,161
4.300%, 01/15/2029 (D)		1,924		1,840
4.000%, 04/15/2025 (D)		1,000		960
MidAmerican Energy
4.800%, 09/15/2043		1,500		1,406
3.650%, 04/15/2029		1,330		1,264
2.700%, 08/01/2052		887		570
Mid-Atlantic Interstate Transmission LLC
4.100%, 05/15/2028 (D)		190		183
Mississippi Power
4.250%, 03/15/2042		471		392
3.100%, 07/30/2051		1,228		815
National Rural Utilities Cooperative Finance MTN
1.875%, 02/07/2025		720		684
NextEra Energy Capital Holdings
6.051%, 03/01/2025		2,190		2,214
NiSource
5.800%, 02/01/2042		471		458
NSTAR Electric
4.550%, 06/01/2052		832		747
3.100%, 06/01/2051		632		434
Pacific Gas and Electric
5.250%, 03/01/2052		335		270
4.950%, 07/01/2050		3,274		2,549
4.750%, 02/15/2044		344		263
4.500%, 07/01/2040		352		273
4.200%, 06/01/2041		595		442
3.950%, 12/01/2047		2,306		1,562
3.500%, 08/01/2050		220		138
3.300%, 08/01/2040		90		61
2.500%, 02/01/2031		2,795		2,203
2.100%, 08/01/2027		3,603		3,118
1.700%, 11/15/2023		2,910		2,850
PacifiCorp
5.500%, 05/15/2054		1,224		1,237
2.900%, 06/15/2052		2,590		1,695
PECO Energy
4.150%, 10/01/2044		1,985		1,688
2.850%, 09/15/2051		1,235		811
Pennsylvania Electric
5.150%, 03/30/2026 (D)		768		763
4.150%, 04/15/2025 (D)		995		964
3.250%, 03/15/2028 (D)		998		917
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara MTN
6.150%, 05/21/2048 (D)		2,090		2,009
5.450%, 05/21/2028 (D)		830		832
4.125%, 05/15/2027 (D)		1,990		1,905


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Piedmont Natural Gas
5.050%, 05/15/2052	$	2,000	$	1,825
2.500%, 03/15/2031		2,000		1,643
Progress Energy
6.000%, 12/01/2039		200		201
Public Service Electric and Gas MTN
5.125%, 03/15/2053		1,390		1,378
2.700%, 05/01/2050		559		368
2.050%, 08/01/2050		284		161
1.900%, 08/15/2031		1,373		1,114
Public Service of Oklahoma
3.150%, 08/15/2051		693		463
Southern California Edison
4.125%, 03/01/2048		772		621
Southern California Gas
2.550%, 02/01/2030		1,840		1,595
Southern Gas Capital
3.250%, 06/15/2026		1,550		1,475
Southwestern Electric Power
5.300%, 04/01/2033		970		963
2.750%, 10/01/2026		1,000		924
1.650%, 03/15/2026		3,990		3,625
Southwestern Public Service
3.750%, 06/15/2049		2,000		1,514
Texas Electric Market Stabilization Funding N LLC
4.265%, 08/01/2034 (D)		5,984		5,808
Virginia Electric and Power
5.450%, 04/01/2053		347		341
5.000%, 04/01/2033		2,078		2,058
4.650%, 08/15/2043		1,205		1,060
3.450%, 02/15/2024		150		148
2.950%, 11/15/2051		1,024		670
Vistra Operations LLC
4.300%, 07/15/2029 (D)		2,725		2,432
WEC Energy Group
0.800%, 03/15/2024		1,480		1,426
Wisconsin Electric Power
1.700%, 06/15/2028		670		583

				146,675

Total Corporate Obligations
(Cost $2,379,736) ($ Thousands)				2,177,281



U.S. TREASURY OBLIGATIONS — 23.3%
U.S. Treasury Bills
5.183%, 10/19/2023 (I)		40,885		40,055
5.172%, 08/24/2023 (I)		24,265		23,973
5.136%, 10/12/2023 (I)		1,935		1,898
5.066%, 08/31/2023 (I)		23,530		23,217


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS (continued)
4.863%, 10/05/2023 (I)	$	19,235	$	18,885
4.848%, 06/29/2023 (I)		15,530		15,469
4.738%, 08/03/2023 (I)		33,297		32,998
4.730%, 07/20/2023 (I)		29,780		29,574
4.676%, 07/18/2023 (I)		28,975		28,783
4.657%, 06/01/2023 (I)		4,920		4,920
4.600%, 07/27/2023 (I)		14,610		14,492
U.S. Treasury Bonds
5.250%, 11/15/2028		985		1,053
4.000%, 11/15/2042		19,010		19,022
4.000%, 11/15/2052		2,000		2,056
3.875%, 02/15/2043		7,657		7,516
3.875%, 05/15/2043		44,713		43,903
3.625%, 08/15/2043		460		435
3.625%, 02/15/2053		53,350		51,241
3.625%, 05/15/2053		45,127		43,421
3.375%, 08/15/2042		669		611
3.375%, 11/15/2048		1,840		1,667
3.250%, 05/15/2042		9,530		8,560
3.125%, 08/15/2044		600		522
3.125%, 05/15/2048		10,270		8,882
3.000%, 02/15/2049		2,760		2,338
3.000%, 08/15/2052 (J)		19,238		16,350
2.875%, 08/15/2028		6,337		6,061
2.875%, 08/15/2045		590		489
2.875%, 05/15/2052		32,845		27,197
2.375%, 02/15/2042		41,565		32,508
2.375%, 05/15/2051		13,630		10,128
2.250%, 05/15/2041		240		186
2.250%, 02/15/2052		30,300		21,854
2.000%, 11/15/2041 (J)		198,679		145,998
2.000%, 02/15/2050		1,610		1,102
2.000%, 08/15/2051		32,586		22,162
1.875%, 02/15/2041		3,302		2,406
1.875%, 02/15/2051		23,060		15,232
1.875%, 11/15/2051		20,010		13,166
1.750%, 08/15/2041 (J)		122,116		86,135
1.625%, 11/15/2050		12,520		7,756
1.375%, 11/15/2040		71,654		48,039
1.375%, 08/15/2050		4,710		2,728
1.125%, 05/15/2040		29,657		19,274
1.125%, 08/15/2040		38,344		24,700
U.S. Treasury Inflation-Protected Securities
1.250%, 04/15/2028		13,734		13,458
1.125%, 01/15/2033		35,051		33,986
U.S. Treasury Notes
4.625%, 02/28/2025		602		602
4.625%, 03/15/2026		240		243
4.500%, 11/30/2024		108		108
4.375%, 10/31/2024		470		467
4.250%, 05/31/2025		45,506		45,378
4.250%, 10/15/2025		15,055		15,053


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS (continued)
4.125%, 01/31/2025 (K)	$	18,228	$	18,073
4.000%, 02/15/2026		223		222
4.000%, 02/29/2028		50		50
3.875%, 03/31/2025		4,426		4,375
3.875%, 04/30/2025		9,220		9,120
3.750%, 04/15/2026		19,901		19,727
3.750%, 05/31/2030		4,735		4,750
3.625%, 05/15/2026		77,479		76,577
3.625%, 03/31/2028		9,646		9,572
3.625%, 05/31/2028		134,640		133,872
3.500%, 01/31/2028		19,069		18,810
3.500%, 04/30/2028		37,751		37,270
3.500%, 01/31/2030		1,680		1,657
3.500%, 04/30/2030		4,825		4,764
3.375%, 05/15/2033		22,494		22,013
3.250%, 06/30/2027		10,810		10,548
3.250%, 06/30/2029		10,863		10,560
3.000%, 07/15/2025		14,246		13,855
2.875%, 04/30/2025		7,646		7,421
2.875%, 06/15/2025		13,533		13,133
2.750%, 04/30/2027		11,745		11,249
2.750%, 05/31/2029		6,093		5,763
2.625%, 02/15/2029		21,710		20,425
2.625%, 07/31/2029		62,270		58,429
2.125%, 05/15/2025		8,334		7,973
2.000%, 11/15/2026		7,220		6,762
1.875%, 02/28/2029		6,306		5,691
1.750%, 12/31/2026		3,974		3,686
1.625%, 05/15/2026		22,626		21,101
1.500%, 08/15/2026		45,617		42,187
1.500%, 11/30/2028		11,529		10,232
1.375%, 10/31/2028 (K)		20,523		18,114
1.125%, 02/29/2028		5,736		5,070
1.125%, 08/31/2028		3,941		3,445
0.750%, 05/31/2026		1,243		1,128
0.750%, 01/31/2028		11,055		9,615
0.500%, 04/30/2027		6,895		6,049
0.375%, 07/31/2027		24,194		20,953

Total U.S. Treasury Obligations
(Cost $1,860,843) ($ Thousands)				1,712,498



ASSET-BACKED SECURITIES — 9.7%
Automotive — 2.9%

Ally Auto Receivables Trust, Ser 2022-3, Cl A4
5.070%, 06/15/2031		876		880
Americredit Automobile Receivables Trust, Ser 2022-1, Cl A2
2.050%, 01/20/2026		1,119		1,110


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Americredit Automobile Receivables Trust, Ser 2022-1, Cl A3
2.450%, 11/18/2026	$	682	$	658
AmeriCredit Automobile Receivables Trust, Ser 2022-2, Cl A3
4.380%, 04/18/2028		1,661		1,633
Americredit Automobile Receivables Trust, Ser 2023-1, Cl A3
5.620%, 11/18/2027		2,372		2,379
ARI Fleet Lease Trust, Ser 2022-A, Cl A2
3.120%, 01/15/2031 (D)		1,175		1,154
Avis Budget Rental Car Funding AESOP LLC, Ser 2019-3A, Cl A
2.360%, 03/20/2026 (D)		2,164		2,044
Avis Budget Rental Car Funding AESOP LLC, Ser 2020-1A, Cl A
2.330%, 08/20/2026 (D)		3,658		3,418
Avis Budget Rental Car Funding AESOP LLC, Ser 2020-2A, Cl A
2.020%, 02/20/2027 (D)		3,620		3,313
Avis Budget Rental Car Funding AESOP LLC, Ser 2021-1A, Cl A
1.380%, 08/20/2027 (D)		1,050		927
Avis Budget Rental Car Funding AESOP LLC, Ser 2021-2A, Cl A
1.660%, 02/20/2028 (D)		1,502		1,322
Avis Budget Rental Car Funding AESOP LLC, Ser 2022-4A, Cl A
4.770%, 02/20/2029 (D)		886		865
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-1A, Cl A
5.250%, 04/20/2029 (D)		3,518		3,490
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-2A, Cl A
5.200%, 10/20/2027 (D)		1,971		1,956
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-3A, Cl A
5.440%, 02/22/2028 (D)		1,250		1,244
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-4A, Cl A
5.490%, 06/20/2029 (D)		4,052		4,042
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-5A, Cl A
5.780%, 04/20/2028 (D)		2,125		2,126
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-6A, Cl A
5.810%, 12/20/2029 (D)		3,077		3,064
BMW Vehicle Lease Trust, Ser 2023-1, Cl A3
5.160%, 11/25/2025		530		528
BMW Vehicle Lease Trust, Ser 2023-1, Cl A4
5.070%, 06/25/2026		1,181		1,176


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Capital One Prime Auto Receivables Trust, Ser 2022-2, Cl A3
3.660%, 05/17/2027	$	2,825	$	2,748
Capital One Prime Auto Receivables Trust, Ser 2023-1, Cl A3
4.870%, 02/15/2028		4,895		4,882
Capital One Prime Auto Receivables Trust, Ser 2023-1, Cl A4
4.760%, 08/15/2028		1,632		1,628
Chase Auto Owner Trust, Ser 2022-AA, Cl A4
3.990%, 03/27/2028 (D)		1,120		1,095
Donlen Fleet Lease Funding II LLC, Ser 2021-2, Cl B
0.980%, 12/11/2034 (D)		1,140		1,079
Donlen Fleet Lease Funding II LLC, Ser 2021-2, Cl C
1.200%, 12/11/2034 (D)		1,990		1,876
Enterprise Fleet Financing LLC, Ser 2023-1, Cl A2
5.510%, 01/22/2029 (D)		2,354		2,347
Enterprise Fleet Financing LLC, Ser 2023-1, Cl A3
5.420%, 10/22/2029 (D)		1,451		1,461
Enterprise Fleet Funding LLC, Ser 2021-1, Cl A3
0.700%, 12/21/2026 (D)		905		851
Ford Credit Auto Lease Trust, Ser 2023-A, Cl A4
4.830%, 05/15/2026		1,259		1,249
Ford Credit Auto Owner Trust, Ser 2022-1, Cl A
3.880%, 11/15/2034 (D)		5,343		5,151
Ford Credit Auto Owner Trust, Ser 2022-C, Cl A4
4.590%, 12/15/2027		1,963		1,947
Ford Credit Auto Owner Trust, Ser 2022-D, Cl A4
5.300%, 03/15/2028		788		795
Ford Credit Auto Owner Trust, Ser 2023-1, Cl A
4.850%, 08/15/2035 (D)		6,102		6,080
Ford Credit Auto Owner Trust, Ser 2023-A, Cl A3
4.650%, 02/15/2028		3,281		3,266
Ford Credit Floorplan Master Owner Trust A, Ser 2023-1, Cl A1
4.920%, 05/15/2028 (D)		5,448		5,416
Ford Credit Floorplan Master Owner Trust, Ser 2018-4, Cl A
4.060%, 11/15/2030		2,740		2,625
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl A2
1.150%, 09/15/2025 (D)		446		442


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
GM Financial Automobile Leasing Trust, Ser 2022-3, Cl A3
4.010%, 09/22/2025	$	2,175	$	2,139
GM Financial Automobile Leasing Trust, Ser 2023-1, Cl A3
5.160%, 04/20/2026		1,085		1,082
GM Financial Automobile Leasing Trust, Ser 2023-1, Cl A4
5.160%, 01/20/2027		1,760		1,758
GM Financial Automobile Leasing Trust, Ser 2023-2, Cl A3
5.050%, 07/20/2026		2,341		2,334
GM Financial Automobile Leasing Trust, Ser 2023-2, Cl A4
5.090%, 05/20/2027		1,064		1,063
GM Financial Consumer Automobile Receivables Trust, Ser 2022-2, Cl A3
3.100%, 02/16/2027		3,945		3,820
GM Financial Consumer Automobile Receivables Trust, Ser 2022-2, Cl A4
3.250%, 04/17/2028		2,511		2,410
GM Financial Consumer Automobile Receivables Trust, Ser 2022-4, Cl A3
4.820%, 08/16/2027		1,305		1,297
GM Financial Revolving Receivables Trust, Ser 2022-1, Cl A
5.910%, 10/11/2035 (D)		2,069		2,153
GM Financial Revolving Receivables Trust, Ser 2023-1, Cl A
5.120%, 04/11/2035 (D)		3,002		3,017
Hertz Vehicle Financing III LLC, Ser 2022-1A, Cl A
1.990%, 06/25/2026 (D)		5,700		5,311
Hertz Vehicle Financing III LLC, Ser 2022-3A, Cl A
3.370%, 03/25/2025 (D)		1,040		1,021
Hertz Vehicle Financing III LLC, Ser 2023-2A, Cl A
5.570%, 09/25/2029 (D)		3,923		3,977
Hertz Vehicle Financing III, Ser 2021-2A, Cl A
1.680%, 12/27/2027 (D)		1,983		1,745
Hertz Vehicle Financing III, Ser 2021-2A, Cl C
2.520%, 12/27/2027 (D)		2,030		1,763
Hertz Vehicle Financing LLC, Ser 2022-4A, Cl A
3.730%, 09/25/2026 (D)		1,930		1,852
Honda Auto Receivables Owner Trust, Ser 2022-2, Cl A3
3.730%, 07/20/2026		1,490		1,455


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Honda Auto Receivables Owner Trust, Ser 2022-2, Cl A4
3.760%, 12/18/2028	$	1,070	$	1,040
Honda Auto Receivables Owner Trust, Ser 2023-1, Cl A3
5.040%, 04/21/2027		4,252		4,254
Honda Auto Receivables Owner Trust, Ser 2023-1, Cl A4
4.970%, 06/21/2029		2,044		2,057
Honda Auto Receivables Owner Trust, Ser 2023-2, Cl A4
4.910%, 09/17/2029		586		587
Hyundai Auto Lease Securitization Trust, Ser 2022-C, Cl A3
4.380%, 10/15/2025 (D)		1,715		1,691
Hyundai Auto Lease Securitization Trust, Ser 2022-C, Cl A4
4.480%, 08/17/2026 (D)		2,293		2,259
Hyundai Auto Lease Securitization Trust, Ser 2023-A, Cl A3
5.050%, 01/15/2026 (D)		2,635		2,619
Hyundai Auto Lease Securitization Trust, Ser 2023-B, Cl A3
5.150%, 06/15/2026 (D)		3,015		3,002
Hyundai Auto Lease Securitization Trust, Ser 2023-B, Cl A4
5.170%, 04/15/2027 (D)		1,684		1,675
Hyundai Auto Receivables Trust, Ser 2021-C, Cl A4
1.030%, 12/15/2027		1,347		1,237
Hyundai Auto Receivables Trust, Ser 2022-A, Cl A3
2.220%, 10/15/2026		2,641		2,535
Hyundai Auto Receivables Trust, Ser 2022-A, Cl A4
2.350%, 04/17/2028		899		845
Hyundai Auto Receivables Trust, Ser 2023-A, Cl A4
4.480%, 07/17/2028		1,525		1,512
JPMorgan Chase Bank - CACLN, Ser 2020-1, Cl B
0.991%, 01/25/2028 (D)		67		66
JPMorgan Chase Bank - CACLN, Ser 2020-2, Cl B
0.840%, 02/25/2028 (D)		265		260
JPMorgan Chase Bank - CACLN, Ser 2021-2, Cl B
0.889%, 12/26/2028 (D)		619		596
JPMorgan Chase Bank - CACLN, Ser 2021-3, Cl B
0.760%, 02/26/2029 (D)		1,464		1,386


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Mercedes-Benz Auto Lease Trust, Ser 2023-A, Cl A3
4.740%, 01/15/2027	$	2,283	$	2,263
Mercedes-Benz Auto Receivables Trust, Ser 2022-1, Cl A4
5.250%, 02/15/2029		1,834		1,857
Mercedes-Benz Auto Receivables Trust, Ser 2023-1, Cl A4
4.310%, 04/16/2029		1,394		1,376
Nissan Auto Receivables Owner Trust, Ser 2022-B, Cl A4
4.450%, 11/15/2029		1,104		1,092
Nissan Auto Receivables Owner Trust, Ser 2023-A, Cl A4
4.850%, 06/17/2030		794		806
PenFed Auto Receivables Owner Trust, Ser 2022-A, Cl A3
3.960%, 04/15/2026 (D)		1,654		1,624
PenFed Auto Receivables Owner Trust, Ser 2022-A, Cl A4
4.180%, 12/15/2028 (D)		813		796
Santander Drive Auto Receivables Trust, Ser 2021-2, Cl C
0.900%, 06/15/2026		1,208		1,189
Santander Drive Auto Receivables Trust, Ser 2022-2, Cl A3
2.980%, 10/15/2026		4,063		4,010
Santander Drive Auto Receivables Trust, Ser 2022-3, Cl A3
3.400%, 12/15/2026		3,262		3,212
Santander Drive Auto Receivables Trust, Ser 2022-4, Cl A3
4.140%, 02/16/2027		2,380		2,345
Santander Drive Auto Receivables Trust, Ser 2022-5, Cl A3
4.110%, 08/17/2026		1,973		1,949
Santander Drive Auto Receivables Trust, Ser 2022-6, Cl A3
4.490%, 11/16/2026		5,937		5,860
Santander Drive Auto Receivables Trust, Ser 2022-7, Cl A3
5.750%, 04/15/2027		948		949
Santander Retail Auto Lease Trust, Ser 2022-B, Cl A3
3.280%, 11/20/2025 (D)		2,920		2,842
Toyota Auto Loan Extended Note Trust, Ser 2019-1A, Cl A
2.560%, 11/25/2031 (D)		885		859
Toyota Auto Loan Extended Note Trust, Ser 2020-1A, Cl A
1.350%, 05/25/2033 (D)		3,475		3,223


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Toyota Auto Loan Extended Note Trust, Ser 2022-1A, Cl A
3.820%, 04/25/2035 (D)	$	3,840	$	3,688
Toyota Auto Receivables Owner Trust, Ser 2022-B, Cl A4
3.110%, 08/16/2027		1,873		1,789
Toyota Auto Receivables Owner Trust, Ser 2022-C, Cl A4
3.770%, 02/15/2028		1,787		1,734
Toyota Auto Receivables Owner Trust, Ser 2022-D, Cl A4
5.430%, 04/17/2028		994		1,011
Toyota Auto Receivables Owner Trust, Ser 2023-A, Cl A4
4.420%, 08/15/2028		1,312		1,300
Toyota Auto Receivables Owner Trust, Ser 2023-B, Cl A3
4.710%, 02/15/2028		5,441		5,426
Toyota Lease Owner Trust, Ser 2023-A, Cl A3
4.930%, 04/20/2026 (D)		2,865		2,853
Veridian Auto Receivables Trust, Ser 2023-1A, Cl A3
5.560%, 03/15/2028 (D)		3,050		3,046
Volkswagen Auto Lease Trust, Ser 2022-A, Cl A3
3.440%, 07/21/2025		1,135		1,112
Wheels SPV II LLC, Ser 2020-1A, Cl A2
0.510%, 08/20/2029 (D)		123		123
World Omni Auto Receivables Trust, Ser 2022-D, Cl A3
5.610%, 02/15/2028		3,725		3,755
World Omni Automobile Lease Securitization Trust, Ser 2023-A, Cl A3
5.070%, 09/15/2026		3,160		3,148
World Omni Select Auto Trust, Ser 2023-A, Cl A2A
5.920%, 03/15/2027		1,977		1,977
				215,299

Credit Cards — 0.5%

American Express Credit Account Master Trust, Ser 2022-2, Cl A
3.390%, 05/15/2027		1,580		1,536
American Express Credit Account Master Trust, Ser 2022-3, Cl A
3.750%, 08/15/2027		1,413		1,380
Barclays Dryrock Issuance Trust, Ser 2023-1, Cl A
4.720%, 02/15/2029		1,910		1,902
Capital One Multi-Asset Execution Trust, Ser 2022-A2, Cl A
3.490%, 05/15/2027		2,377		2,313


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Capital One Multi-Asset Execution Trust, Ser 2023-A1, Cl A
4.420%, 05/15/2028	$	3,777	$	3,754
Citibank Credit Card Issuance Trust, Ser 2017-A6, Cl A6
5.877%, ICE LIBOR USD 1 Month + 0.770%, 05/14/2029 (A)		5,880		5,880
Discover Card Execution Note Trust, Ser 2022-A3, Cl A3
3.560%, 07/15/2027		5,081		4,946
Discover Card Execution Note Trust, Ser 2022-A4, Cl A
5.030%, 10/15/2027		638		641
Discover Card Execution Note Trust, Ser 2023-A1, Cl A
4.310%, 03/15/2028		3,815		3,772
Evergreen Credit Card Trust, Ser 2023-CRT3, Cl B
6.580%, 02/16/2027 (D)		2,130		2,146
Golden Credit Card Trust, Ser 2022-4A, Cl A
4.310%, 09/15/2027 (D)		3,150		3,095
Master Credit Card Trust II, Ser 2023-1A, Cl A
4.700%, 06/21/2027 (D)		4,245		4,215
Synchrony Card Funding LLC, Ser 2022-A2, Cl A
3.860%, 07/15/2028		1,197		1,171
				36,751

Mortgage Related Securities — 0.2%

Aames Mortgage Trust, Ser 2002-1, Cl A3
7.396%, 06/25/2032 (C)		14		14
Accredited Mortgage Loan Trust, Ser 2005-3, Cl M3
5.858%, ICE LIBOR USD 1 Month + 0.720%, 09/25/2035 (A)		2,038		1,988
Bayview Financial Mortgage Pass-Through Trust, Ser 2006-A, Cl M3
6.135%, ICE LIBOR USD 1 Month + 0.975%, 02/28/2041 (A)		95		95
Centex Home Equity Loan Trust, Ser 2005-A, Cl M1
5.858%, ICE LIBOR USD 1 Month + 0.720%, 01/25/2035 (A)		1,662		1,642
Delta Funding Home Equity Loan Trust, Ser 1999-3, Cl A1A
5.927%, ICE LIBOR USD 1 Month + 0.820%, 09/15/2029 (A)		150		142
Master Asset-Backed Securities Trust, Ser 2006-WMC3, Cl A4
5.458%, ICE LIBOR USD 1 Month + 0.320%, 08/25/2036 (A)		673		246


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Morgan Stanley Mortgage Loan Trust, Ser 2007-3XS, Cl 2A3S
6.358%, 01/25/2047 (C)	$	12	$	5
RASC Trust, Ser 2005-KS9, Cl M5
6.083%, ICE LIBOR USD 1 Month + 0.630%, 10/25/2035 (A)		5,178		5,069
RASC Trust, Ser 2006-KS2, Cl M2
5.723%, ICE LIBOR USD 1 Month + 0.585%, 03/25/2036 (A)		1,405		1,380
Structured Asset Securities Pass-Through Certificates, Ser 2002-AL1, Cl A2
3.450%, 02/25/2032		9		8
Wells Fargo Home Equity Asset-Backed Securities Trust, Ser 2004-2, Cl A33
6.138%, ICE LIBOR USD 1 Month + 1.000%, 10/25/2034 (A)		2,018		1,973
				12,562

Other Asset-Backed Securities — 6.1%

AB BSL CLO IV, Ser 2023-4A, Cl A
6.957%, TSFR3M + 2.000%, 04/20/2036 (A)(D)		890		891
ABPCI Direct Lending Fund CLO X, Ser 2020-10A, Cl A1A
7.200%, ICE LIBOR USD 3 Month + 1.950%, 01/20/2032 (A)(D)		2,420		2,387
ABPCI Direct Lending Fund IX LLC, Ser 2021-9A, Cl A1R
6.692%, ICE LIBOR USD 3 Month + 1.400%, 11/18/2031 (A)(D)		4,190		4,116
AccessLex Institute, Ser 2007-A, Cl A3
5.696%, ICE LIBOR USD 3 Month + 0.300%, 05/25/2036 (A)		1,487		1,441
ACRES Commercial Realty, Ser 2021-FL1, Cl AS
6.708%, ICE LIBOR USD 1 Month + 1.600%, 06/15/2036 (A)(D)		6,000		5,741
AGL CLO VI, Ser 2021-6A, Cl AR
6.450%, ICE LIBOR USD 3 Month + 1.200%, 07/20/2034 (A)(D)		1,360		1,342
Aimco CLO XI, Ser 2021-11A, Cl AR
6.390%, ICE LIBOR USD 3 Month + 1.130%, 10/17/2034 (A)(D)		5,500		5,359
Aligned Data Centers Issuer LLC, Ser 2021-1A, Cl A2
1.937%, 08/15/2046 (D)		3,630		3,198
American Homes 4 Rent, Ser 2015-SFR1, Cl A
3.467%, 04/17/2052 (D)		4,810		4,627
AMMC CLO XIII, Ser 2021-13A, Cl A1R2
6.323%, ICE LIBOR USD 3 Month + 1.050%, 07/24/2029 (A)(D)		2,668		2,650


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Antares CLO, Ser 2021-1A, Cl A1R
6.733%, ICE LIBOR USD 3 Month + 1.460%, 10/23/2033 (A)(D)	$	2,500	$	2,419
Apidos CLO XXXV, Ser 2021-35A, Cl A
6.300%, ICE LIBOR USD 3 Month + 1.050%, 04/20/2034 (A)(D)		1,320		1,290
Aqua Finance Trust, Ser 2021-A, Cl A
1.540%, 07/17/2046 (D)		–		–
Arbor Realty Commercial Real Estate Notes, Ser 2021-FL4, Cl AS
6.807%, ICE LIBOR USD 1 Month + 1.700%, 11/15/2036 (A)(D)		4,831		4,681
Arbor Realty Commercial Real Estate Notes, Ser 2022-FL1, Cl A
6.322%, SOFR30A + 1.450%, 01/15/2037 (A)(D)		1,848		1,811
Ares LXIII CLO, Ser 2022-63A, Cl A1A
6.429%, TSFR3M + 1.380%, 04/20/2035 (A)(D)		2,750		2,688
Ares XLII Clo, Ser 2021-42A, Cl BR
6.773%, ICE LIBOR USD 3 Month + 1.500%, 01/22/2028 (A)(D)		2,000		1,967
Balboa Bay Loan Funding, Ser 2021-2A, Cl A1
6.420%, ICE LIBOR USD 3 Month + 1.170%, 01/20/2035 (A)(D)		1,230		1,198
BANK5, Ser 5YR1, Cl A3
6.260%, 04/15/2056 (A)		1,084		1,122
Blackbird Capital Aircraft, Ser 2021-1A, Cl A
2.443%, 07/15/2046 (D)		835		732
Brazos Education Loan Authority, Ser 2012-1, Cl A1
5.838%, ICE LIBOR USD 1 Month + 0.700%, 12/26/2035 (A)		644		637
Brazos Higher Education Authority, Ser 2011-2, Cl A3
6.255%, ICE LIBOR USD 3 Month + 1.000%, 10/27/2036 (A)		2,720		2,691
Carlyle Global Market Strategies CLO, Ser 2018-3RA, Cl A1A
6.342%, ICE LIBOR USD 3 Month + 1.050%, 07/27/2031 (A)(D)		863		853
Catskill Park CLO, Ser 2017-1A, Cl A2
6.950%, ICE LIBOR USD 3 Month + 1.700%, 04/20/2029 (A)(D)		1,500		1,482
Cayuga Park CLO, Ser 2021-1A, Cl AR
6.380%, ICE LIBOR USD 3 Month + 1.120%, 07/17/2034 (A)(D)		2,360		2,311
CBAM, Ser 2017-1A, Cl A1
6.500%, ICE LIBOR USD 3 Month + 1.250%, 07/20/2030 (A)(D)		699		693
Cedar Funding V CLO, Ser 2020-5A, Cl AFRR
1.937%, 07/17/2031 (D)		1,580		1,458


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Cerberus Loan Funding XXVIII, Ser 2020-1A, Cl A
7.110%, ICE LIBOR USD 3 Month + 1.850%, 10/15/2031 (A)(D)	$	492	$	489
Chase Funding Trust, Ser 2003-6, Cl 1A5
4.846%, 11/25/2034 (C)		93		91
Chase Funding Trust, Ser 2003-6, Cl 1A7
4.846%, 11/25/2034 (C)		92		89
CIFC Funding, Ser 2021-7A, Cl A1
6.403%, ICE LIBOR USD 3 Month + 1.130%, 01/23/2035 (A)(D)		6,225		6,085
CIT Education Loan Trust, Ser 2007-1, Cl A
5.224%, ICE LIBOR USD 3 Month + 0.090%, 03/25/2042 (A)(D)		1,000		954
Citicorp Residential Mortgage Trust, Ser 2006-2, Cl A5
4.897%, 09/25/2036 (C)		66		66
Citicorp Residential Mortgage Trust, Ser 2007-1, Cl A5
4.912%, 03/25/2037 (C)		288		284
CNH Equipment Trust, Ser 2022-B, Cl A3
3.890%, 08/16/2027		3,130		3,056
CNH Equipment Trust, Ser 2022-C, Cl A3
5.150%, 04/17/2028		3,265		3,285
College Ave Student Loans LLC, Ser 2023-A, Cl A2
5.330%, 05/25/2055 (D)		2,920		2,891
College Avenue Student Loans LLC, Ser 2017-A, Cl A1
6.788%, ICE LIBOR USD 1 Month + 1.650%, 11/26/2046 (A)(D)		518		517
College Avenue Student Loans LLC, Ser 2018-A, Cl A2
4.130%, 12/26/2047 (D)		386		366
College Avenue Student Loans LLC, Ser 2019-A, Cl A2
3.280%, 12/28/2048 (D)		816		751
College Avenue Student Loans LLC, Ser 2021-B, Cl A2
1.760%, 06/25/2052 (D)		636		546
College Avenue Student Loans LLC, Ser 2021-C, Cl A2
2.320%, 07/26/2055 (D)		433		376
COOF Securitization Trust, Ser 2014-1, Cl A, IO
3.311%, 06/25/2040 (A)(D)		108		6
Countrywide Asset-Backed Certificates Trust, Ser 2004-6, Cl 1A1
5.678%, ICE LIBOR USD 1 Month + 0.540%, 12/25/2034 (A)		1,922		1,823


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Countrywide Asset-Backed Certificates Trust, Ser 2007-13, Cl 2A1
6.038%, ICE LIBOR USD 1 Month + 0.900%, 10/25/2047 (A)	$	200	$	182
Countrywide Asset-Backed Certificates, Ser 2006-SD3, Cl A1
5.798%, ICE LIBOR USD 1 Month + 0.660%, 07/25/2036 (A)(D)		24		23
Countrywide Home Equity Loan Revolving Home Equity Loan Trust, Ser 2007-A, Cl A
5.227%, ICE LIBOR USD 1 Month + 0.120%, 04/15/2037 (A)		1,161		1,066
Credit-Based Asset Servicing and Securitization LLC, Ser 2003-CB3, Cl AF1
3.379%, 12/25/2032 (C)		22		20
Credit-Based Asset Servicing and Securitization LLC, Ser 2006-CB2, Cl AF2
3.045%, 12/25/2036 (C)		322		256
Dell Equipment Finance Trust, Ser 2022-2, Cl A3
4.140%, 07/22/2027 (D)		795		777
DLLAD LLC, Ser 2023-1A, Cl A3
4.790%, 01/20/2028 (D)		3,395		3,350
DLLST LLC, Ser 2022-1A, Cl A3
3.400%, 01/21/2025 (D)		4,055		3,978
Dryden XXVI Senior Loan Fund, Ser 2018-26A, Cl AR
6.160%, ICE LIBOR USD 3 Month + 0.900%, 04/15/2029 (A)(D)		3,453		3,421
Eaton Vance CLO, Ser 2021-2A, Cl AR
6.410%, ICE LIBOR USD 3 Month + 1.150%, 01/15/2035 (A)(D)		1,830		1,791
Educational Funding of the South, Ser 2011-1, Cl A2
5.905%, ICE LIBOR USD 3 Month + 0.650%, 04/25/2035 (A)		427		426
EDvestinU Private Education Loan Issue No. 4 LLC, Ser 2022-A, Cl A
5.250%, 11/25/2040 (D)		1,666		1,619
EFS Volunteer No. 3 LLC, Ser 2012-1, Cl A3
6.138%, ICE LIBOR USD 1 Month + 1.000%, 04/25/2033 (A)(D)		1,437		1,427
FirstKey Homes Trust, Ser 2020-SFR2, Cl A
1.266%, 10/19/2037 (D)		8,539		7,729
FNMA Grantor Trust, Ser 2017-T1, Cl A
2.898%, 06/25/2027		179		167
Fremont Home Loan Trust, Ser 2005-E, Cl 2A4
5.798%, ICE LIBOR USD 1 Month + 0.660%, 01/25/2036 (A)		6,434		5,934
Galaxy Xxiv Clo, Ser 2017-24A, Cl A
6.380%, ICE LIBOR USD 3 Month + 1.120%, 01/15/2031 (A)(D)		3,380		3,345


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Galaxy Xxviii Clo, Ser 2018-28A, Cl A1
6.360%, ICE LIBOR USD 3 Month + 1.100%, 07/15/2031 (A)(D)	$	1,435	$	1,417
Global SC Finance II SRL, Ser 2014-1A, Cl A2
3.090%, 07/17/2029 (D)		321		312
GoldentTree Loan Management US CLO I, Ser 2021-11A, Cl B
6.850%, ICE LIBOR USD 3 Month + 1.600%, 10/20/2034 (A)(D)		6,000		5,780
Golub Capital Partners CLO 66B, Ser 2023-66A, Cl A
6.926%, TSFR3M + 1.950%, 04/25/2036 (A)(D)		890		886
Golub Capital Partners CLO XLV MM, Ser 2019-45A, Cl A
6.970%, ICE LIBOR USD 3 Month + 1.720%, 10/20/2031 (A)(D)		1,500		1,477
Great Lakes Kcap F3c Senior LLC, Ser 2017-1A, Cl A
6.863%, ICE LIBOR USD 3 Month + 1.900%, 12/20/2029 (A)(D)		2,431		2,413
GreatAmerica Leasing Receivables Funding LLC, Ser 2022-1, Cl A3
5.080%, 09/15/2026 (D)		1,925		1,920
Halsey Point CLO I, Ser 2019-1A, Cl A1A1
6.600%, ICE LIBOR USD 3 Month + 1.350%, 01/20/2033 (A)(D)		590		580
Halsey Point CLO III, Ser 2020-3A, Cl A1A
6.749%, ICE LIBOR USD 3 Month + 1.450%, 11/30/2032 (A)(D)		700		690
Hardee's Funding LLC, Ser 2021-1A, Cl A2
2.865%, 06/20/2051 (D)		3,694		2,948
HGI CRE CLO, Ser 2021-FL1, Cl A
6.155%, ICE LIBOR USD 1 Month + 1.050%, 06/16/2036 (A)(D)		2,378		2,346
Hildene Community Funding CDO, Ser 2021-1A, Cl ARR
2.600%, 11/01/2035 (D)		2,170		1,855
Hilton Grand Vacations Trust, Ser 2020-AA, Cl A
2.740%, 02/25/2039 (D)		910		854
Home Partners of America Trust, Ser 2019-2, Cl A
2.703%, 10/19/2039 (D)		3,044		2,749
Home Partners of America Trust, Ser 2022-1, Cl A
3.930%, 04/17/2039 (D)		5,464		5,171
HPS Loan Management, Ser 2021-16A, Cl A1
6.413%, ICE LIBOR USD 3 Month + 1.140%, 01/23/2035 (A)(D)		6,000		5,833
JGWPT XXX LLC, Ser 2013-3A, Cl A
4.080%, 01/17/2073 (D)		1,166		1,060


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
JGWPT XXXII LLC, Ser 2014-2A, Cl A
3.610%, 01/17/2073 (D)	$	1,485	$	1,292
KGS-Alpha SBA COOF Trust, Ser 2012-A, Cl A, IO
0.867%, 08/25/2038 (A)(D)		492		9
KGS-Alpha SBA COOF Trust, Ser 2014-2, Cl A, IO
3.740%, 04/25/2040 (A)(D)		83		4
KKR CLO XXXII, Ser 2020-32A, Cl A1
6.580%, ICE LIBOR USD 3 Month + 1.320%, 01/15/2032 (A)(D)		900		890
KREF, Ser 2022-FL3, Cl A
6.523%, TSFR1M + 1.450%, 02/17/2039 (A)(D)		4,100		3,997
LCM Loan Income Fund I Income Note Issuer, Ser 2018-27A, Cl A1
6.340%, ICE LIBOR USD 3 Month + 1.080%, 07/16/2031 (A)(D)		925		914
LCM XXI, Ser 2018-21A, Cl AR
6.130%, ICE LIBOR USD 3 Month + 0.880%, 04/20/2028 (A)(D)		132		131
Madison Park Funding XXXV, Ser 2021-35A, Cl A1R
6.240%, ICE LIBOR USD 3 Month + 0.990%, 04/20/2032 (A)(D)		4,010		3,955
Magnetite XIV-R, Ser 2018-14RA, Cl A2
6.382%, ICE LIBOR USD 3 Month + 1.120%, 10/18/2031 (A)(D)		2,910		2,870
MF1 LLC, Ser 2022-FL10, Cl A
7.708%, TSFR1M + 2.635%, 09/17/2037 (A)(D)		1,365		1,371
MF1, Ser 2020-FL4, Cl A
6.881%, TSFR1M + 1.814%, 11/15/2035 (A)(D)		1,196		1,192
MF1, Ser 2021-FL6, Cl A
6.211%, ICE LIBOR USD 1 Month + 1.100%, 07/16/2036 (A)(D)		570		555
MF1, Ser 2021-FL7, Cl A
6.191%, ICE LIBOR USD 1 Month + 1.080%, 10/16/2036 (A)(D)		3,875		3,766
Mid-State Capital Trust, Ser 2006-1, Cl A
5.787%, 10/15/2040 (D)		2,000		1,950
Mid-State Trust XI, Ser 2003-11, Cl A1
4.864%, 07/15/2038		783		758
MKS CLO, Ser 2018-2A, Cl A
6.440%, ICE LIBOR USD 3 Month + 1.190%, 01/20/2031 (A)(D)		1,407		1,390
MVW LLC, Ser 2021-1WA, Cl B
1.440%, 01/22/2041 (D)		438		397
MVW LLC, Ser 2023-1A, Cl A
4.930%, 10/20/2040 (D)		432		428


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Myers Park CLO, Ser 2018-1A, Cl B1
6.850%, ICE LIBOR USD 3 Month + 1.600%, 10/20/2030 (A)(D)	$	890	$	868
Navient Private Education Loan Trust, Ser 2014-AA, Cl A3
6.707%, ICE LIBOR USD 1 Month + 1.600%, 10/15/2031 (A)(D)		877		876
Navient Private Education Loan Trust, Ser 2016-AA, Cl A2B
7.257%, ICE LIBOR USD 1 Month + 2.150%, 12/15/2045 (A)(D)		330		331
Navient Private Education Loan Trust, Ser 2018-BA, Cl A2A
3.610%, 12/15/2059 (D)		549		530
Navient Private Education Refi Loan Trust, Ser 2018-A, Cl A2
3.190%, 02/18/2042 (D)		16		16
Navient Private Education Refi Loan Trust, Ser 2018-CA, Cl A2
3.520%, 06/16/2042 (D)		99		97
Navient Private Education Refi Loan Trust, Ser 2018-DA, Cl A2A
4.000%, 12/15/2059 (D)		3,229		3,097
Navient Private Education Refi Loan Trust, Ser 2019-A, Cl A2A
3.420%, 01/15/2043 (D)		965		930
Navient Private Education Refi Loan Trust, Ser 2019-CA, Cl A2
3.130%, 02/15/2068 (D)		1,633		1,550
Navient Private Education Refi Loan Trust, Ser 2019-D, Cl A2A
3.010%, 12/15/2059 (D)		2,011		1,877
Navient Private Education Refi Loan Trust, Ser 2019-FA, Cl A2
2.600%, 08/15/2068 (D)		2,435		2,256
Navient Private Education Refi Loan Trust, Ser 2020-BA, Cl A2
2.120%, 01/15/2069 (D)		726		664
Navient Private Education Refi Loan Trust, Ser 2020-DA, Cl A
1.690%, 05/15/2069 (D)		1,189		1,077
Navient Private Education Refi Loan Trust, Ser 2020-EA, Cl A
1.690%, 05/15/2069 (D)		1,298		1,169
Navient Private Education Refi Loan Trust, Ser 2020-GA, Cl A
1.170%, 09/16/2069 (D)		2,390		2,132
Navient Private Education Refi Loan Trust, Ser 2020-IA, Cl A1A
1.330%, 04/15/2069 (D)		2,649		2,355
Navient Private Education Refi Loan Trust, Ser 2021-A, Cl A
0.840%, 05/15/2069 (D)		628		551


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Navient Private Education Refi Loan Trust, Ser 2021-BA, Cl A
0.940%, 07/15/2069 (D)	$	645	$	562
Navient Private Education Refi Loan Trust, Ser 2021-CA, Cl A
1.060%, 10/15/2069 (D)		2,428		2,115
Navient Private Education Refi Loan Trust, Ser 2021-EA, Cl A
0.970%, 12/16/2069 (D)		3,507		2,993
Navient Private Education Refi Loan Trust, Ser 2021-FA, Cl A
1.110%, 02/18/2070 (D)		2,236		1,901
Navient Private Education Refi Loan Trust, Ser 2021-GA, Cl A
1.580%, 04/15/2070 (D)		549		477
Navient Private Education Refi Loan Trust, Ser 2022-A, Cl A
2.230%, 07/15/2070 (D)		1,939		1,703
Navient Student Loan Trust, Ser 2014-1, Cl A3
5.648%, ICE LIBOR USD 1 Month + 0.510%, 06/25/2031 (A)		2,304		2,249
Navient Student Loan Trust, Ser 2014-3, Cl A
5.758%, ICE LIBOR USD 1 Month + 0.620%, 03/25/2083 (A)		2,929		2,818
Navient Student Loan Trust, Ser 2014-4, Cl A
5.758%, ICE LIBOR USD 1 Month + 0.620%, 03/25/2083 (A)		1,979		1,916
Navient Student Loan Trust, Ser 2016-3A, Cl A3
6.488%, ICE LIBOR USD 1 Month + 1.350%, 06/25/2065 (A)(D)		1,292		1,281
Navient Student Loan Trust, Ser 2017-3A, Cl A3
6.188%, ICE LIBOR USD 1 Month + 1.050%, 07/26/2066 (A)(D)		6,249		6,173
Navient Student Loan Trust, Ser 2019-BA, Cl A2A
3.390%, 12/15/2059 (D)		2,178		2,070
Navient Student Loan Trust, Ser 2021-1A, Cl A1A
1.310%, 12/26/2069 (D)		973		842
Navient Student Loan Trust, Ser 2021-3A, Cl A1A
1.770%, 08/25/2070 (D)		2,289		2,011
Nelnet Student Loan Trust, Ser 2004-3, Cl A5
5.435%, ICE LIBOR USD 3 Month + 0.180%, 10/27/2036 (A)		538		524
Nelnet Student Loan Trust, Ser 2004-4, Cl A5
5.415%, ICE LIBOR USD 3 Month + 0.160%, 01/25/2037 (A)		1,648		1,620


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Nelnet Student Loan Trust, Ser 2005-1, Cl A5
5.365%, ICE LIBOR USD 3 Month + 0.110%, 10/25/2033 (A)	$	3,478	$	3,360
Nelnet Student Loan Trust, Ser 2005-2, Cl A5
5.047%, ICE LIBOR USD 3 Month + 0.100%, 03/23/2037 (A)		3,707		3,621
Nelnet Student Loan Trust, Ser 2005-3, Cl A5
5.067%, ICE LIBOR USD 3 Month + 0.120%, 12/24/2035 (A)		2,748		2,689
Nelnet Student Loan Trust, Ser 2005-4, Cl A4
5.127%, ICE LIBOR USD 3 Month + 0.180%, 03/22/2032 (A)		441		425
Nelnet Student Loan Trust, Ser 2014-4A, Cl A2
6.088%, ICE LIBOR USD 1 Month + 0.950%, 11/25/2048 (A)(D)		3,648		3,573
Nelnet Student Loan Trust, Ser 2019-5, Cl A
2.530%, 10/25/2067 (D)		1,563		1,431
Nelnet Student Loan Trust, Ser 2021-CA, Cl AFX
1.320%, 04/20/2062 (D)		1,678		1,503
New Economy Assets Phase I Sponsor LLC, Ser 2021-1, Cl B1
2.410%, 10/20/2061 (D)		5,740		4,815
Newcastle Mortgage Securities Trust, Ser 2007-1, Cl 1A1
5.328%, ICE LIBOR USD 1 Month + 0.190%, 04/25/2037 (A)		5,981		5,630
NP SPE X, Ser 2021-1A, Cl A1
2.230%, 03/19/2051 (D)		2,556		2,257
Octagon Investment Partners XIV, Ser 2021-1A, Cl AARR
6.210%, ICE LIBOR USD 3 Month + 0.950%, 07/15/2029 (A)(D)		5,612		5,555
Octagon Investment Partners XXI, Ser 2021-1A, Cl AAR3
6.321%, ICE LIBOR USD 3 Month + 1.000%, 02/14/2031 (A)(D)		1,300		1,280
Octane Receivables Trust, Ser 2023-1A, Cl A
5.870%, 05/21/2029 (D)		1,670		1,664
OHA Credit Funding VII, Ser 2022-7A, Cl AR
6.328%, TSFR3M + 1.300%, 02/24/2037 (A)(D)		1,730		1,693
Owl Rock CLO III, Ser 2020-3A, Cl A1L
7.050%, ICE LIBOR USD 3 Month + 1.800%, 04/20/2032 (A)(D)		1,620		1,596
Palmer Square CLO, Ser 2021-1A, Cl A1R
6.471%, ICE LIBOR USD 3 Month + 1.150%, 11/14/2034 (A)(D)		2,430		2,376


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Palmer Square CLO, Ser 2022-1A, Cl A
6.369%, TSFR3M + 1.320%, 04/20/2035 (A)(D)	$	5,800	$	5,672
Point Au Roche Park CLO, Ser 2021-1A, Cl A
6.330%, ICE LIBOR USD 3 Month + 1.080%, 07/20/2034 (A)(D)		3,130		3,064
Progress Residential Trust, Ser 2019-SFR3, Cl A
2.271%, 09/17/2036 (D)		2,651		2,522
Progress Residential Trust, Ser 2019-SFR4, Cl A
2.687%, 10/17/2036 (D)		2,230		2,136
Progress Residential Trust, Ser 2021-SFR3, Cl A
1.637%, 05/17/2026 (D)		6,178		5,484
RAMP Trust, Ser 2007-RZ1, Cl A3
5.638%, ICE LIBOR USD 1 Month + 0.500%, 02/25/2037 (A)		3,412		3,345
Recette CLO, Ser 2021-1A, Cl ARR
6.330%, ICE LIBOR USD 3 Month + 1.080%, 04/20/2034 (A)(D)		760		740
Reese Park CLO, Ser 2021-1A, Cl AR
6.390%, ICE LIBOR USD 3 Month + 1.130%, 10/15/2034 (A)(D)		3,690		3,617
Rockford Tower CLO, Ser 2021-2A, Cl AR
6.479%, ICE LIBOR USD 3 Month + 1.100%, 08/20/2032 (A)(D)		5,000		4,903
RR III, Ser 2018-3A, Cl A1R2
6.350%, ICE LIBOR USD 3 Month + 1.090%, 01/15/2030 (A)(D)		1,010		1,001
SBA Small Business Investment, Ser 2018-10B, Cl 1
3.548%, 09/10/2028		1,022		967
SBA Small Business Investment, Ser 2019-10A, Cl 1
3.113%, 03/10/2029		672		632
SBA Small Business Investment, Ser 2022-10A, Cl 1
2.938%, 03/10/2032		1,759		1,593
SBA Small Business Investment, Ser 2022-10B, Cl 1
4.262%, 09/10/2032		894		887
Sequoia Infrastructure Funding I, Ser 2021-1A, Cl A
6.660%, ICE LIBOR USD 3 Month + 1.400%, 04/15/2031 (A)(D)		713		707
Sierra Timeshare Receivables Funding LLC, Ser 2018-3A, Cl B
3.870%, 09/20/2035 (D)		744		732
Silver Rock CLO I, Ser 2020-1A, Cl A
6.900%, ICE LIBOR USD 3 Month + 1.650%, 10/20/2031 (A)(D)		2,350		2,335


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
SLM Private Education Loan Trust, Ser 2010-C, Cl A5
9.857%, ICE LIBOR USD 1 Month + 4.750%, 10/15/2041 (A)(D)	$	1,533	$	1,599
SLM Student Loan Trust, Ser 2003-4, Cl A5D
5.616%, ICE LIBOR USD 3 Month + 0.750%, 03/15/2033 (A)(D)		631		607
SLM Student Loan Trust, Ser 2003-7A, Cl A5A
6.066%, ICE LIBOR USD 3 Month + 1.200%, 12/15/2033 (A)(D)		2,320		2,275
SLM Student Loan Trust, Ser 2006-8, Cl A6
5.415%, ICE LIBOR USD 3 Month + 0.160%, 01/25/2041 (A)		3,129		2,972
SLM Student Loan Trust, Ser 2008-2, Cl B
6.455%, ICE LIBOR USD 3 Month + 1.200%, 01/25/2083 (A)		1,155		1,147
SLM Student Loan Trust, Ser 2008-3, Cl B
6.455%, ICE LIBOR USD 3 Month + 1.200%, 04/26/2083 (A)		1,155		1,002
SLM Student Loan Trust, Ser 2008-4, Cl B
7.105%, ICE LIBOR USD 3 Month + 1.850%, 04/25/2073 (A)		1,155		1,095
SLM Student Loan Trust, Ser 2008-5, Cl B
7.105%, ICE LIBOR USD 3 Month + 1.850%, 07/25/2073 (A)		1,155		1,135
SLM Student Loan Trust, Ser 2008-6, Cl A4
6.355%, ICE LIBOR USD 3 Month + 1.100%, 07/25/2023 (A)		3,317		3,235
SLM Student Loan Trust, Ser 2008-6, Cl B
7.105%, ICE LIBOR USD 3 Month + 1.850%, 07/26/2083 (A)		1,155		1,064
SLM Student Loan Trust, Ser 2008-7, Cl B
7.105%, ICE LIBOR USD 3 Month + 1.850%, 07/26/2083 (A)		1,155		1,063
SLM Student Loan Trust, Ser 2011-2, Cl A2
6.338%, ICE LIBOR USD 1 Month + 1.200%, 10/25/2034 (A)		328		325
SLM Student Loan Trust, Ser 2014-3A, Cl A6A
5.805%, ICE LIBOR USD 3 Month + 0.550%, 10/25/2064 (A)(D)		2,615		2,555
SMB Private Education Loan Trust, Ser 2016-B, Cl A2A
2.430%, 02/17/2032 (D)		302		290
SMB Private Education Loan Trust, Ser 2016-B, Cl A2B
6.557%, ICE LIBOR USD 1 Month + 1.450%, 02/17/2032 (A)(D)		392		392
SMB Private Education Loan Trust, Ser 2016-C, Cl A2B
6.207%, ICE LIBOR USD 1 Month + 1.100%, 09/15/2034 (A)(D)		347		346


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
SMB Private Education Loan Trust, Ser 2018-C, Cl A2A
3.630%, 11/15/2035 (D)	$	596	$	569
SMB Private Education Loan Trust, Ser 2019-A, Cl A2A
3.440%, 07/15/2036 (D)		1,119		1,072
SMB Private Education Loan Trust, Ser 2020-A, Cl A2A
2.230%, 09/15/2037 (D)		919		848
SMB Private Education Loan Trust, Ser 2020-BA, Cl A1A
1.290%, 07/15/2053 (D)		1,201		1,074
SMB Private Education Loan Trust, Ser 2020-PTA, Cl A2A
1.600%, 09/15/2054 (D)		1,885		1,689
SMB Private Education Loan Trust, Ser 2020-PTB, Cl A2A
1.600%, 09/15/2054 (D)		5,249		4,693
SMB Private Education Loan Trust, Ser 2021-A, Cl A2B
1.590%, 01/15/2053 (D)		1,149		1,006
SMB Private Education Loan Trust, Ser 2021-A, Cl APT1
1.070%, 01/15/2053 (D)		3,229		2,832
SMB Private Education Loan Trust, Ser 2021-B, Cl A
1.310%, 07/17/2051 (D)		2,653		2,355
SMB Private Education Loan Trust, Ser 2021-C, Cl APT1
1.390%, 01/15/2053 (D)		2,279		1,993
SMB Private Education Loan Trust, Ser 2021-C, Cl B
2.300%, 01/15/2053 (D)		1,010		910
SMB Private Education Loan Trust, Ser 2021-D, Cl A1A
1.340%, 03/17/2053 (D)		4,453		3,960
SMB Private Education Loan Trust, Ser 2021-E, Cl A1A
1.680%, 02/15/2051 (D)		3,822		3,437
SMB Private Education Loan Trust, Ser 2023-B, Cl A1B
6.765%, SOFR30A + 1.800%, 10/16/2056 (A)(D)		1,962		1,964
SoFi Consumer Loan Program Trust, Ser 2023-1S, Cl A
5.810%, 05/15/2031 (D)		518		517
SoFi Professional Loan Program LLC, Ser 2017-D, Cl A2FX
2.650%, 09/25/2040 (D)		37		35
SoFi Professional Loan Program LLC, Ser 2017-E, Cl A2B
2.720%, 11/26/2040 (D)		8		8


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
SoFi Professional Loan Program Trust, Ser 2020-C, Cl AFX
1.950%, 02/15/2046 (D)	$	222	$	200
SoFi Professional Loan Program Trust, Ser 2021-A, Cl AFX
1.030%, 08/17/2043 (D)		728		618
SoFi Professional Loan Program Trust, Ser 2021-B, Cl AFX
1.140%, 02/15/2047 (D)		1,692		1,425
South Carolina Student Loan, Ser 2015-A, Cl A
6.638%, ICE LIBOR USD 1 Month + 1.500%, 01/25/2036 (A)		855		853
Southwick Park CLO LLC, Ser 2021-4A, Cl A1R
6.310%, ICE LIBOR USD 3 Month + 1.060%, 07/20/2032 (A)(D)		5,170		5,086
Stack Infrastructure Issuer LLC, Ser 2019-1A, Cl A2
4.540%, 02/25/2044 (D)		714		701
Stack Infrastructure Issuer LLC, Ser 2020-1A, Cl A2
1.893%, 08/25/2045 (D)		6,252		5,677
Structured Asset Investment Loan Trust, Ser 2004-7, Cl A8
6.338%, ICE LIBOR USD 1 Month + 1.200%, 08/25/2034 (A)		865		838
Structured Asset Investment Loan Trust, Ser 2004-8, Cl A2
5.688%, ICE LIBOR USD 1 Month + 0.550%, 09/25/2034 (A)		2,312		2,206
Structured Asset Securities Mortgage Loan Trust, Ser 2006-BC5, Cl A4
5.478%, ICE LIBOR USD 1 Month + 0.340%, 12/25/2036 (A)		1,678		1,639
STWD, Ser 2019-FL1, Cl A
6.251%, TSFR1M + 1.194%, 07/15/2038 (A)(D)		454		453
STWD, Ser 2022-FL3, Cl A
6.222%, SOFR30A + 1.350%, 11/15/2038 (A)(D)		200		196
T-Mobile US Trust, Ser 2022-1A, Cl A
4.910%, 05/22/2028 (D)		1,743		1,736
Towd Point Mortgage Trust, Ser 2019-MH1, Cl A1
3.000%, 11/25/2058 (A)(D)		1,930		1,901
Trestles CLO IV, Ser 2021-4A, Cl B1
6.961%, ICE LIBOR USD 3 Month + 1.700%, 07/21/2034 (A)(D)		6,300		6,108
Triumph Rail Holdings LLC, Ser 2021-2, Cl A
2.150%, 06/19/2051 (D)		2,049		1,785


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
TRTX Issuer, Ser 2022-FL5, Cl A
6.556%, SOFR30A + 1.650%, 02/15/2039 (A)(D)	$	4,050	$	3,917
U.S. Small Business Administration, Ser 2019-20D, Cl 1
2.980%, 04/01/2039		226		208
U.S. Small Business Administration, Ser 2019-25G, Cl 1
2.690%, 07/01/2044		438		387
U.S. Small Business Administration, Ser 2022-25E, Cl 1
3.940%, 05/01/2047		973		924
U.S. Small Business Administration, Ser 2022-25F, Cl 1
4.010%, 06/01/2047		1,246		1,196
U.S. Small Business Administration, Ser 2022-25G, Cl 1
3.930%, 07/01/2047		9,155		8,739
U.S. Small Business Administration, Ser 2022-25H, Cl 1
3.800%, 08/01/2047		5,189		4,921
Venture XXXII CLO, Ser 2018-32A, Cl A2A
6.332%, ICE LIBOR USD 3 Month + 1.070%, 07/18/2031 (A)(D)		900		891
Verizon Master Trust, Ser 2022-2, Cl A
1.530%, 07/20/2028		1,524		1,435
Verizon Master Trust, Ser 2022-4, Cl A
3.400%, 11/20/2028		3,208		3,111
Verizon Master Trust, Ser 2022-6, Cl A
3.670%, 01/22/2029		2,888		2,810
Verizon Master Trust, Ser 2023-1, Cl A
4.490%, 01/22/2029		6,844		6,778
Verizon Master Trust, Ser 2023-2, Cl A
4.890%, 04/13/2028		1,101		1,097
Voya CLO, Ser 2018-3A, Cl A1A
6.410%, ICE LIBOR USD 3 Month + 1.150%, 10/15/2031 (A)(D)		2,810		2,774
Voya CLO, Ser 2018-3A, Cl A1R
6.452%, ICE LIBOR USD 3 Month + 1.190%, 10/18/2031 (A)(D)		750		742
Voya CLO, Ser 2021-3A, Cl A1R
6.290%, ICE LIBOR USD 3 Month + 1.040%, 04/20/2034 (A)(D)		1,110		1,083
Wells Fargo Home Equity Asset-Backed Securities Trust, Ser 2006-2, Cl M2
5.428%, ICE LIBOR USD 1 Month + 0.290%, 07/25/2036 (A)		7,485		7,325
Whitebox CLO II, Ser 2021-2A, Cl A1R
6.493%, ICE LIBOR USD 3 Month + 1.220%, 10/24/2034 (A)(D)		1,810		1,768
Whitebox CLO III, Ser 2021-3A, Cl A1
6.480%, ICE LIBOR USD 3 Month + 1.220%, 10/15/2034 (A)(D)		2,140		2,091


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Z Capital Credit Partners CLO, Ser 2021-1A, Cl A1R
6.770%, ICE LIBOR USD 3 Month + 1.510%, 07/16/2031 (A)(D)	$	1,910	$	1,899
Zais CLO XIII, Ser 2019-13A, Cl A1A
6.750%, ICE LIBOR USD 3 Month + 1.490%, 07/15/2032 (A)(D)		1,302		1,289
				453,438

Total Asset-Backed Securities
(Cost $742,360) ($ Thousands)				718,050


U.S. GOVERNMENT AGENCY OBLIGATIONS — 1.4%
FHLB
5.370%, 05/21/2024		21,800		21,701
5.300%, 05/22/2024		22,010		21,906
1.000%, 09/30/2023		3,695		3,063
FHLB DN
5.077%, 08/25/2023(I)		10,000		9,882
4.931%, 08/09/2023(I)		15,000		14,857
4.836%, 07/24/2023(I)		15,000		14,890
FHLMC
0.000%, 07/15/2031(B)		600		435
FHLMC MTN
0.000%, 12/14/2029(B)		2,887		2,236
FNMA
2.625%, 09/06/2024		510		496
1.900%, 01/25/2036		3,503		2,597
1.520%, 08/21/2035		3,816		2,728
0.000%, 11/15/2030(B)		8,487		6,255
Resolution Funding Interest STRIP
0.000%, 01/15/2030(B)		1,930		1,483
Resolution Funding Principal STRIP
0.000%, 04/15/2030(B)		2,570		1,949
Tennessee Valley Authority Principal STRIP, PO
0.000%, 11/01/2025(B)		1,000		898



Total U.S. Government Agency Obligations
(Cost $109,587) ($ Thousands)				105,376



SOVEREIGN DEBT — 0.7%

Bermuda Government International Bond
5.000%, 07/15/2032(D)		953		936
Chile Government International Bond
3.100%, 05/07/2041		1,310		979


Description	Face Amount (Thousands)		Market Value ($ Thousands)
SOVEREIGN DEBT (continued)
Colombia Government International Bond
5.625%, 02/26/2044	$	2,570	$	1,853
5.200%, 05/15/2049		3,500		2,360
5.000%, 06/15/2045		3,310		2,193
3.125%, 04/15/2031		710		527
Export Finance & Insurance
4.625%, 10/26/2027(D)		2,742		2,786
Export-Import Bank of India
3.375%, 08/05/2026(D)		1,410		1,328
Indonesia Government International Bond
5.250%, 01/08/2047(D)		410		408
4.750%, 07/18/2047(D)		400		374
Israel Government AID Bond
0.000%, 11/01/2024(B)		1,000		931
0.000%, 02/15/2025(B)		1,000		920
0.000%, 08/15/2025(B)		1,000		897
Israel Government International Bond
4.500%, 01/17/2033		2,786		2,736
3.375%, 01/15/2050		430		315
2.750%, 07/03/2030		720		639
Italy Government International Bond
3.875%, 05/06/2051		619		434
Kazakhstan Government International Bond
4.875%, 10/14/2044(D)		2,480		2,214
Mexico Government International Bond
6.338%, 05/04/2053		2,251		2,257
6.050%, 01/11/2040		4,108		4,147
4.750%, 03/08/2044		3,480		2,933
4.400%, 02/12/2052(F)		820		634
3.771%, 05/24/2061		559		371
3.500%, 02/12/2034		3,244		2,725
2.659%, 05/24/2031		3,630		3,014
Panama Government International Bond
6.853%, 03/28/2054		786		806
6.700%, 01/26/2036		1,830		1,953
4.500%, 05/15/2047		530		416
4.500%, 04/01/2056		830		613
4.300%, 04/29/2053		950		694
3.160%, 01/23/2030		310		273
Paraguay Government International Bond
5.400%, 03/30/2050(D)		402		337
Peruvian Government International Bond
3.600%, 01/15/2072		2,465		1,605
3.550%, 03/10/2051(F)		240		173
Poland Government International Bond
5.500%, 04/04/2053		1,096		1,101
Province of Saskatchewan Canada
3.250%, 06/08/2027		1,044		1,005


Description	Face Amount (Thousands)		Market Value ($ Thousands)
SOVEREIGN DEBT (continued)
Uruguay Government International Bond
5.750%, 10/28/2034	$	2,280	$	2,491
5.100%, 06/18/2050		2,630		2,581
4.375%, 01/23/2031		680		678

Total Sovereign Debt
(Cost $62,193) ($ Thousands)				53,637



MUNICIPAL BONDS — 0.3%
California — 0.1%
California State University, Ser B, RB
2.374%, 11/01/2035		1,160		904
California State, Health Facilities Financing Authority, RB
3.000%, 08/15/2051		1,490		1,108
Regents of the University of California Medical Center, Ser N, RB
3.256%, 05/15/2060		4,660		3,200

				5,212

Georgia — 0.1%
Georgia State, Municipal Electric Authority, Build America Project, RB
7.055%, 04/01/2057		156		161
6.637%, 04/01/2057		2,274		2,477

				2,638

Nevada — 0.0%
Clark County, Airport System Revenue, Build America Project, Ser C, RB
6.820%, 07/01/2045		1,170		1,425


New York — 0.1%
New York & New Jersey, Port Authority, RB
4.458%, 10/01/2062		1,600		1,447
New York City, Ser D, GO
1.823%, 08/01/2030		2,205		1,826
New York City, Sub-Ser, Ser A, GO
3.000%, 08/01/2034		870		734
New York City, Transitional Finance Authority Future Tax Secured Revenue, Ser D-3, RB
2.400%, 11/01/2032		1,085		897
New York City, Transitional Finance Authority, Future Tax Secured Revenue, RB
5.508%, 08/01/2037		1,940		2,031
New York State, Dormitory Authority, Ser F, RB
3.110%, 02/15/2039		2,795		2,306


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
New York State, Transportation Authority, Ser C2, RB
5.175%, 11/15/2049	$	480	$	440

				9,681

Ohio — 0.0%
Ohio State University, Build America Project, Ser A, RB
4.800%, 06/01/2111		689		625


Oregon — 0.0%
Oregon State, GO
5.762%, 06/01/2023		499		499


Texas — 0.0%
North Texas, Tollway Authority, Build America Project, RB
6.718%, 01/01/2049		1,154		1,427
University of Texas, Ser B, RB
2.439%, 08/15/2049		585		384

				1,811

Virginia — 0.0%
University of Virginia, RB
2.256%, 09/01/2050		1,155		717
Virginia State, Housing Development Authority, Ser 2006-C, Cl CTFS, RB
6.000%, 06/25/2034		65		65

				782


Total Municipal Bonds
(Cost $27,109) ($ Thousands)				22,673


Description	Shares		Market Value ($ Thousands)
AFFILIATED PARTNERSHIP — 0.2%
SEI Liquidity Fund, LP
5.010% **^†(L)		15,811,343	$	15,803


Total Affiliated Partnership
(Cost $15,814) ($ Thousands)				15,803



CASH EQUIVALENT — 1.9%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		138,275,287		138,275

Total Cash Equivalent
(Cost $138,275) ($ Thousands)				138,275



PURCHASED OPTIONS — 0.0%
Total Purchased Options
(Cost $1,557) ($ Thousands)				686


Total Investments in Securities — 109.3%
(Cost $8,618,286) ($ Thousands)			$	8,052,851


WRITTEN OPTIONS — (0.0)%
Total Written Options
(Premiums Received $2,206) ($ Thousands)			$	(1,637	)

A list of the exchange traded option contracts held by the Fund at May 31, 2023 is as follows:

A list of the open futures contracts held by the Fund at May 31, 2023 is as follows:

A list of the open forward foreign currency contracts held by the Fund at May 31, 2023 is as follows:

A list of the open centrally cleared swap agreements held by the Fund at May 31, 2023 is as follows:

	Percentages are based on Net Assets of $7,365,104 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(B)	Zero coupon security.
(C)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(D)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $1,211,252 ($ Thousands), representing 16.4% of the Net Assets of the Fund.
(E)	No interest rate available.
(F)	Certain securities or partial positions of certain securities are on loan at May 31, 2023 (see Note 11).
(G)	Perpetual security with no stated maturity date.
(H)	Security is in default on interest payment.
(I)	Interest rate represents the security's effective yield at the time of purchase.
(J)	Security, or a portion thereof, has been pledged as collateral on TBAs. The total market value of such securities as of May 31, 2023 was $1,022 ($ Thousands).
(K)	Security, or a portion thereof, has been pledged as collateral on futures contracts. The total market value of such securities as of May 31, 2023 was $3,787 ($ Thousands).
(L)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $15,803 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Mortgage-Backed Securities

–

3,108,572

–

3,108,572

Corporate Obligations

–

2,177,281

–

2,177,281

U.S. Treasury Obligations

–

1,712,498

–

1,712,498

Asset-Backed Securities

–

718,050

–

718,050

U.S. Government Agency Obligations

–

105,376

–

105,376

Sovereign Debt

–

53,637

–

53,637

Municipal Bonds

–

22,673

–

22,673

Affiliated Partnership

–

15,803

–

15,803

Cash Equivalent

138,275

–

138,275

Purchased Options

686

–

686

Total Investments in Securities

138,961

7,913,890

–

8,052,851

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Written Options		(1,637	)		–			–		(1,637	)
Futures Contracts*
Unrealized Appreciation		4,695			–			–		4,695
Unrealized Depreciation		(4,710	)		–			–		(4,710	)
Forward Contracts*
Unrealized Appreciation		–			61			–		61
Unrealized Depreciation		–			(145	)		–		(145	)
Centrally Cleared Swaps
Credit Default Swaps*
Unrealized Appreciation		–			1,298			–		1,298
Unrealized Depreciation		–			–			–		–
Interest Rate Swaps*
Unrealized Appreciation		–			17,438			–		17,438
Unrealized Depreciation		–			(161	)		–		(161	)
Total Other Financial Instruments		(1,652	)		18,491			–		16,839

*	Futures contracts, forward contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 76.1%
Communication Services — 12.3%
Altice Financing
5.750%, 08/15/2029 (A)	$	4,339	$	3,309
5.000%, 01/15/2028 (A)		4,578		3,577
Altice France
8.125%, 02/01/2027 (A)		461		397
5.500%, 01/15/2028 (A)		200		152
5.500%, 10/15/2029 (A)		3,790		2,750
5.125%, 07/15/2029 (A)		723		515
Altice France Holding
10.500%, 05/15/2027 (A)		8,969		5,359
6.000%, 02/15/2028 (A)		1,204		596
AMC Entertainment Holdings
10.000%, 06/15/2026 (A)		187		119
6.125%, 05/15/2027		475		181
AMC Networks
5.000%, 04/01/2024		1,310		1,287
4.250%, 02/15/2029		873		497
ANGI Group LLC
3.875%, 08/15/2028 (A)		2,741		2,232
Arches Buyer
6.125%, 12/01/2028 (A)		2,962		2,563
4.250%, 06/01/2028 (A)		373		316
Audacy Capital
6.750%, 03/31/2029 (A)		5,891		147
6.500%, 05/01/2027 (A)		2,865		79
Beasley Mezzanine Holdings LLC
8.625%, 02/01/2026 (A)		4,935		3,241


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Belo
7.250%, 09/15/2027	$	442	$	417
CCO Holdings LLC
5.375%, 06/01/2029 (A)		1,288		1,159
5.125%, 05/01/2027 (A)		5,326		4,934
5.000%, 02/01/2028 (A)		5,582		5,073
4.750%, 03/01/2030 (A)		2,015		1,699
4.750%, 02/01/2032 (A)		253		203
4.500%, 08/15/2030 (A)		9,138		7,522
4.500%, 05/01/2032		3,170		2,481
4.250%, 02/01/2031 (A)		5,342		4,279
4.250%, 01/15/2034 (A)		1,240		917
Charter Communications Operating LLC
3.950%, 06/30/2062		1,360		815
Cinemark USA
8.750%, 05/01/2025 (A)		161		164
5.250%, 07/15/2028 (A)		240		210
Clear Channel Outdoor Holdings Inc.
7.750%, 04/15/2028 (A)		1,814		1,351
7.500%, 06/01/2029 (A)		807		575
5.125%, 08/15/2027 (A)		3,070		2,706
CMG Media Corp.
8.875%, 12/15/2027 (A)		8,763		5,676
Comcast
2.987%, 11/01/2063		670		415
2.937%, 11/01/2056		1,165		747
Connect Finco Sarl
6.750%, 10/01/2026 (A)		882		850
Consolidated Communications
6.500%, 10/01/2028 (A)		3,270		2,448
CSC Holdings LLC
11.250%, 05/15/2028 (A)		555		526
7.500%, 04/01/2028 (A)		1,165		631
6.500%, 02/01/2029 (A)		3,170		2,496
5.750%, 01/15/2030 (A)		8,224		3,622
5.250%, 06/01/2024		1,256		1,165
4.625%, 12/01/2030 (A)		1,306		558
4.500%, 11/15/2031 (A)		909		632
3.375%, 02/15/2031 (A)		1,337		914
Cumulus Media New Holdings
6.750%, 07/01/2026 (A)		1,616		1,180
Diamond Sports Group LLC
6.625%, 08/15/2027 (A)(B)		5,251		105
5.375%, 08/15/2026 (A)(B)		10,790		454
Directv Financing LLC
5.875%, 08/15/2027 (A)		4,144		3,650
DISH DBS
7.750%, 07/01/2026		5,532		3,174
7.375%, 07/01/2028		6,730		3,441
5.875%, 11/15/2024		3,896		3,337
5.750%, 12/01/2028 (A)		1,775		1,288
5.250%, 12/01/2026 (A)		3,845		3,037


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.125%, 06/01/2029	$	2,397	$	1,087
DISH Network
11.750%, 11/15/2027 (A)		7,995		7,652
Embarq
7.995%, 06/01/2036		1,102		548
EquipmentShare.com
9.000%, 05/15/2028 (A)		400		367
Frontier Communications Holdings LLC
8.750%, 05/15/2030 (A)		2,208		2,064
6.750%, 05/01/2029 (A)		475		350
6.000%, 01/15/2030 (A)		1,232		865
5.875%, 10/15/2027 (A)		292		260
5.875%, 11/01/2029		1,408		986
5.000%, 05/01/2028 (A)		1,135		951
Gannett Holdings LLC
6.000%, 11/01/2026 (A)		264		220
GCI LLC
4.750%, 10/15/2028 (A)		795		671
Gray Escrow II
5.375%, 11/15/2031 (A)		6,082		3,870
Gray Television
7.000%, 05/15/2027 (A)		779		642
5.875%, 07/15/2026 (A)		105		90
4.750%, 10/15/2030 (A)		795		515
Hughes Satellite Systems
6.625%, 08/01/2026		130		120
iHeartCommunications
8.375%, 05/01/2027		935		528
6.375%, 05/01/2026		566		429
5.250%, 08/15/2027 (A)		565		397
Iliad Holding SASU
7.000%, 10/15/2028 (A)		310		289
6.500%, 10/15/2026 (A)		1,405		1,323
Intelsat Jackson
0.000%, 12/31/2049 (C)(D)		6,854		1
Intelsat Jackson Holdings
6.500%, 03/15/2030 (A)		2,187		2,012
ION Trading Technologies Sarl
5.750%, 05/15/2028 (A)		3,125		2,598
Kenbourne Invest
6.875%, 11/26/2024 (A)		290		235
LCPR Senior Secured Financing DAC
6.750%, 10/15/2027 (A)		3,076		2,854
Level 3 Financing
10.500%, 05/15/2030 (A)		3,184		3,026
4.625%, 09/15/2027 (A)		3,763		2,351
4.250%, 07/01/2028 (A)		1,248		718
3.875%, 11/15/2029 (A)		275		201
3.750%, 07/15/2029 (A)		535		290
3.625%, 01/15/2029 (A)		6,112		3,302
Live Nation Entertainment
6.500%, 05/15/2027 (A)		893		895


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.625%, 03/15/2026 (A)	$	466	$	455
4.875%, 11/01/2024 (A)		1,660		1,631
4.750%, 10/15/2027 (A)		3,209		2,972
Lumen Technologies
5.625%, 04/01/2025		431		321
5.375%, 06/15/2029 (A)		466		202
5.125%, 12/15/2026 (A)		1,767		1,082
4.500%, 01/15/2029 (A)		190		75
4.000%, 02/15/2027 (A)		2,607		1,706
McGraw-Hill Education
5.750%, 08/01/2028 (A)		3,980		3,393
Midcontinent Communications
5.375%, 08/15/2027 (A)		1,062		989
Millennium Escrow
6.625%, 08/01/2026 (A)		1,405		961
News
5.125%, 02/15/2032 (A)		255		232
3.875%, 05/15/2029 (A)		428		376
Nexstar Media
5.625%, 07/15/2027 (A)		1,715		1,573
4.750%, 11/01/2028 (A)		4,340		3,662
Photo Holdings Merger Sub
8.500%, 10/01/2026 (A)		905		521
Radiate Holdco LLC
6.500%, 09/15/2028 (A)		4,675		2,349
4.500%, 09/15/2026 (A)		3,795		2,922
Sable International Finance
5.750%, 09/07/2027 (A)		1,407		1,306
Scripps Escrow
5.875%, 07/15/2027 (A)		290		223
Scripps Escrow II
3.875%, 01/15/2029 (A)		3,896		3,000
Sinclair Television Group
5.125%, 02/15/2027 (A)		365		299
4.125%, 12/01/2030 (A)		2,745		1,795
Sirius XM Radio
5.500%, 07/01/2029 (A)		1,151		1,005
5.000%, 08/01/2027 (A)		2,298		2,083
4.125%, 07/01/2030 (A)		3,448		2,712
4.000%, 07/15/2028 (A)		1,195		1,001
3.875%, 09/01/2031 (A)		2,210		1,631
SoftBank Group
5.125%, 09/19/2027		799		715
Spanish Broadcasting System
9.750%, 03/01/2026 (A)		4,100		2,665
Stagwell Global LLC
5.625%, 08/15/2029 (A)		550		472
TEGNA
4.625%, 03/15/2028		2,743		2,386
Telecom Italia
5.303%, 05/30/2024 (A)		515		502


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Telecom Italia Capital
6.000%, 09/30/2034	$	3,059	$	2,574
Telenet Finance Luxembourg Notes Sarl
5.500%, 03/01/2028 (A)		3,200		2,960
Telesat Canada
6.500%, 10/15/2027 (A)		4,656		2,025
5.625%, 12/06/2026 (A)		3,104		1,878
Time Warner Cable Enterprises LLC
8.375%, 07/15/2033		1,540		1,709
T-Mobile USA
3.500%, 04/15/2031		1,630		1,452
3.375%, 04/15/2029		700		633
U.S. Cellular
6.700%, 12/15/2033		2,095		1,722
Univision Communications Inc
7.375%, 06/30/2030 (A)		229		213
6.625%, 06/01/2027 (A)		85		81
4.500%, 05/01/2029 (A)		2,921		2,452
Urban One
7.375%, 02/01/2028 (A)		6,745		6,070
Verizon Communications
3.000%, 11/20/2060		735		451
2.987%, 10/30/2056		700		432
Virgin Media Finance
5.000%, 07/15/2030 (A)		1,216		963
Virgin Media Secured Finance
5.500%, 05/15/2029 (A)		505		454
4.500%, 08/15/2030 (A)		757		629
Virgin Media Vendor Financing Notes IV DAC
5.000%, 07/15/2028 (A)		3,455		3,001
Vmed O2 UK Financing I
4.250%, 01/31/2031 (A)		2,255		1,816
VTR Comunicaciones
5.125%, 01/15/2028 (A)		2,275		1,069
4.375%, 04/15/2029 (A)		615		284
VZ Secured Financing BV
5.000%, 01/15/2032 (A)		1,985		1,579
Windstream Escrow LLC
7.750%, 08/15/2028 (A)		5,255		4,273
WMG Acquisition
3.000%, 02/15/2031 (A)		1,355		1,092
Zayo Group Holdings Inc
6.125%, 03/01/2028 (A)		1,787		1,077

				232,981

Consumer Discretionary — 14.1%
1011778 BC ULC / New Red Finance
4.375%, 01/15/2028 (A)		2,175		1,997
4.000%, 10/15/2030 (A)		370		318
3.875%, 01/15/2028 (A)		745		683
Academy
6.000%, 11/15/2027 (A)		1,860		1,795


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Adient Global Holdings Ltd.
8.250%, 04/15/2031 (A)	$	405	$	405
7.000%, 04/15/2028 (A)		64		65
4.875%, 08/15/2026 (A)		3,415		3,232
ADT Security
4.875%, 07/15/2032 (A)		2,163		1,843
4.125%, 08/01/2029 (A)		515		449
Adtalem Global Education
5.500%, 03/01/2028 (A)		1,552		1,450
Air Canada
3.875%, 08/15/2026 (A)		1,775		1,648
American Axle & Manufacturing
6.875%, 07/01/2028		807		722
6.500%, 04/01/2027		635		592
5.000%, 10/01/2029		285		232
American Builders & Contractors Supply
4.000%, 01/15/2028 (A)		1,831		1,670
Aramark Services
5.000%, 02/01/2028 (A)		740		699
Asbury Automotive Group
4.750%, 03/01/2030		202		177
4.625%, 11/15/2029 (A)		1,370		1,208
4.500%, 03/01/2028		2,803		2,556
Ashton Woods USA LLC
6.625%, 01/15/2028 (A)		3,211		3,010
4.625%, 08/01/2029 (A)		53		45
Aston Martin Capital Holdings
10.500%, 11/30/2025 (A)		1,411		1,410
Aventine (Escrow Security)
0.000%, 10/15/2049 (B)(C)(D)(E)		2,600		–
Avianca Midco 2
9.000%, 12/01/2028 (A)		2,683		2,197
Bath & Body Works
7.600%, 07/15/2037		780		700
7.500%, 06/15/2029		542		548
6.875%, 11/01/2035		979		887
6.750%, 07/01/2036		2,997		2,675
6.694%, 01/15/2027		149		150
6.625%, 10/01/2030 (A)		3,069		2,924
5.250%, 02/01/2028		2,371		2,256
Boyne USA
4.750%, 05/15/2029 (A)		304		272
Brookfield Residential Properties
4.875%, 02/15/2030 (A)		1,081		816
Caesars Entertainment
8.125%, 07/01/2027 (A)		720		734
7.000%, 02/15/2030 (A)		1,120		1,125
6.250%, 07/01/2025 (A)		310		309
4.625%, 10/15/2029 (A)		2,100		1,810
Caesars Resort Collection LLC
5.750%, 07/01/2025 (A)		524		527


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Carnival
10.500%, 02/01/2026 (A)	$	109	$	113
10.500%, 06/01/2030 (A)		2,439		2,448
9.875%, 08/01/2027 (A)		3,000		3,096
7.625%, 03/01/2026 (A)		3,576		3,391
6.000%, 05/01/2029 (A)		1,377		1,145
5.750%, 03/01/2027 (A)		10,162		8,699
4.000%, 08/01/2028 (A)		413		360
Carnival Holdings Bermuda
10.375%, 05/01/2028 (A)		1,185		1,283
Carvana
5.875%, 10/01/2028 (A)		413		236
5.625%, 10/01/2025 (A)		788		590
4.875%, 09/01/2029 (A)		1,368		686
CD&R Smokey Buyer
6.750%, 07/15/2025 (A)		627		553
Cedar Fair
5.250%, 07/15/2029		545		501
Century Communities
6.750%, 06/01/2027		624		624
Churchill Downs
6.750%, 05/01/2031 (A)		1,066		1,051
Clarios Global
8.500%, 05/15/2027 (A)		2,350		2,356
6.750%, 05/15/2025 (A)		896		898
6.750%, 05/15/2028 (A)		297		297
6.250%, 05/15/2026 (A)		1,431		1,416
Cooper-Standard Automotive
13.500% cash/0% PIK, 03/31/2027 (A)		2,546		2,559
5.625% cash/0% PIK, 05/15/2027 (A)		1,485		839
Dana
5.625%, 06/15/2028		465		426
5.375%, 11/15/2027		958		897
Dealer Tire LLC
8.000%, 02/01/2028 (A)		925		847
Dornoch Debt Merger Sub
6.625%, 10/15/2029 (A)		5,591		4,197
eG Global Finance
8.500%, 10/30/2025 (A)		842		812
6.750%, 02/07/2025 (A)		6,488		6,235
Empire Resorts
7.750%, 11/01/2026 (A)		5,240		4,218
Fontainebleau Las Vegas
11.000%, 06/15/2015 (A)(B)		3,481		–
Ford Motor
6.100%, 08/19/2032		1,728		1,624
4.750%, 01/15/2043		5,531		4,087
Ford Motor Credit LLC
7.350%, 03/06/2030		855		861
6.950%, 03/06/2026		200		200
6.800%, 05/12/2028		3,032		3,001


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.125%, 06/16/2025	$	1,285	$	1,246
5.113%, 05/03/2029		6,620		6,061
4.687%, 06/09/2025		1,245		1,197
4.542%, 08/01/2026		1,481		1,385
4.271%, 01/09/2027		485		445
4.134%, 08/04/2025		1,600		1,515
4.125%, 08/17/2027		515		465
4.063%, 11/01/2024		2,787		2,694
4.000%, 11/13/2030		3,233		2,717
3.810%, 01/09/2024		90		88
3.375%, 11/13/2025		207		191
2.900%, 02/16/2028		4,000		3,377
2.900%, 02/10/2029		505		410
2.700%, 08/10/2026		200		177
Ford Motor Credit LLC MTN
4.389%, 01/08/2026		650		611
Gap
3.625%, 10/01/2029 (A)		445		313
Goodyear Tire & Rubber
5.250%, 04/30/2031		181		159
5.250%, 07/15/2031		622		541
5.000%, 07/15/2029		517		466
Hanesbrands
9.000%, 02/15/2031 (A)		134		134
Hertz (Escrow Security) (D)
0.000%, 10/15/2024		1,573		39
0.000%, 08/01/2026		715		50
0.000%, 01/15/2028		420		30
Hilton Domestic Operating
5.750%, 05/01/2028 (A)		326		321
4.875%, 01/15/2030		130		121
4.000%, 05/01/2031 (A)		3,270		2,822
3.750%, 05/01/2029 (A)		3,562		3,144
3.625%, 02/15/2032 (A)		2,409		1,992
International Game Technology
6.250%, 01/15/2027 (A)		1,090		1,088
5.250%, 01/15/2029 (A)		545		516
4.125%, 04/15/2026 (A)		1,178		1,115
Jacobs Entertainment
6.750%, 02/15/2029 (A)		3,953		3,470
Jaguar Land Rover Automotive
5.500%, 07/15/2029 (A)		3,250		2,774
Ken Garff Automotive LLC
4.875%, 09/15/2028 (A)		442		385
Kohl's
4.625%, 05/01/2031		1,259		820
4.250%, 07/17/2025		839		769
LBM Acquisition LLC
6.250%, 01/15/2029 (A)		2,371		1,877
LCM Investments Holdings II LLC
4.875%, 05/01/2029 (A)		3,695		3,081


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Liberty Interactive LLC
8.250%, 02/01/2030	$	5,360	$	1,871
Life Time
5.750%, 01/15/2026 (A)		2,697		2,613
Lions Gate Capital Holdings LLC
5.500%, 04/15/2029 (A)		2,138		1,518
Lithia Motors
4.375%, 01/15/2031 (A)		993		847
3.875%, 06/01/2029 (A)		615		530
LSF9 Atlantis Holdings LLC
7.750%, 02/15/2026 (A)		4,886		4,532
MajorDrive Holdings IV LLC
6.375%, 06/01/2029 (A)		5,084		3,884
Mattamy Group
4.625%, 03/01/2030 (A)		1,082		930
MGM Resorts International
6.750%, 05/01/2025		495		497
5.750%, 06/15/2025		336		334
5.500%, 04/15/2027		150		144
4.750%, 10/15/2028		3,177		2,895
Michaels
7.875%, 05/01/2029 (A)		3,415		2,098
Midwest Gaming Borrower LLC
4.875%, 05/01/2029 (A)		2,219		1,956
NCL
8.375%, 02/01/2028 (A)		171		177
5.875%, 03/15/2026 (A)		1,390		1,261
5.875%, 02/15/2027 (A)		1,845		1,757
NCL Finance
6.125%, 03/15/2028 (A)		1,307		1,114
Neiman Marcus Group (Escrow Security)
0.000%, 10/15/2022 (B)(C)(D)		2,835		380
Newell Brands
6.625%, 09/15/2029		77		73
6.375%, 09/15/2027		152		144
4.700%, 04/01/2026		515		478
Nissan Motor
4.345%, 09/17/2027 (A)		2,466		2,204
Nissan Motor Acceptance LLC
2.000%, 03/09/2026 (A)		2,184		1,896
Nordstrom
4.375%, 04/01/2030		13		10
PetSmart
7.750%, 02/15/2029 (A)		1,561		1,515
4.750%, 02/15/2028 (A)		2,006		1,856
PM General Purchaser LLC
9.500%, 10/01/2028 (A)		543		509
QVC
4.850%, 04/01/2024		2,643		2,522
4.750%, 02/15/2027		1,270		780
4.450%, 02/15/2025		845		718
4.375%, 09/01/2028		1,671		969


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Raptor Acquisition
4.875%, 11/01/2026 (A)	$	360	$	338
Ritchie Bros Holdings
7.750%, 03/15/2031 (A)		1,300		1,355
6.750%, 03/15/2028 (A)		1,270		1,285
Royal Caribbean Cruises
11.625%, 08/15/2027 (A)		5,217		5,670
11.500%, 06/01/2025 (A)		437		462
9.250%, 01/15/2029 (A)		1,035		1,100
8.250%, 01/15/2029 (A)		345		363
7.250%, 01/15/2030 (A)		255		257
5.500%, 08/31/2026 (A)		2,425		2,280
5.500%, 04/01/2028 (A)		550		505
Service International
3.375%, 08/15/2030		273		227
Shea Homes
4.750%, 02/15/2028		1,081		948
4.750%, 04/01/2029		1,323		1,155
Six Flags Entertainment
7.250%, 05/15/2031 (A)		185		178
5.500%, 04/15/2027 (A)		200		189
Six Flags Theme Parks
7.000%, 07/01/2025 (A)(E)		136		137
Sonic Automotive
4.625%, 11/15/2029 (A)		372		308
Specialty Building Products Holdings LLC
6.375%, 09/30/2026 (A)		4,016		3,624
SRS Distribution
6.125%, 07/01/2029 (A)		1,924		1,593
6.000%, 12/01/2029 (A)		813		668
4.625%, 07/01/2028 (A)		357		315
Staples
10.750%, 04/15/2027 (A)		2,103		1,290
7.500%, 04/15/2026 (A)		3,751		3,083
Station Casinos LLC
4.500%, 02/15/2028 (A)		2,287		2,035
Studio City
7.000%, 02/15/2027 (A)		725		674
Studio City Finance
5.000%, 01/15/2029 (A)		4,170		3,035
Superior Plus
4.500%, 03/15/2029 (A)		368		322
Tempur Sealy International
4.000%, 04/15/2029 (A)		754		642
3.875%, 10/15/2031 (A)		2,097		1,677
Vail Resorts
6.250%, 05/15/2025 (A)		981		983
Victoria's Secret
4.625%, 07/15/2029 (A)		3,278		2,515
Viking Cruises
5.875%, 09/15/2027 (A)		3,560		3,137


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Vista Outdoor
4.500%, 03/15/2029 (A)	$	828	$	678
VistaJet Malta Finance
9.500%, 06/01/2028 (A)		939		859
6.375%, 02/01/2030 (A)		11,366		9,037
Wesco Aircraft Holdings
13.125%, 11/15/2027 (A)(B)		180		11
9.000%, 11/15/2026 (A)(B)		936		84
8.500%, 11/15/2024 (A)(B)		143		7
Wheel Pros
6.500%, 05/15/2029 (A)		3,955		1,747
White Capital Buyer LLC
6.875%, 10/15/2028 (A)		188		163
White Capital Parent LLC
8.250% cash/0% PIK, 03/15/2026 (A)		4,020		3,789
Wolverine World Wide
4.000%, 08/15/2029 (A)		3,453		2,754
WW International
4.500%, 04/15/2029 (A)		2,845		1,714
Wynn Las Vegas LLC
5.500%, 03/01/2025 (A)		1,051		1,030
Wynn Resorts Finance LLC
5.125%, 10/01/2029 (A)		651		581
Yum! Brands
6.875%, 11/15/2037		1,840		1,954
5.350%, 11/01/2043		180		158
3.625%, 03/15/2031		3,225		2,756

				265,972

Consumer Staples — 4.5%
1375209 BC
9.000%, 01/30/2028 (A)		2,168		2,162
180 Medical
3.875%, 10/15/2029 (A)		214		187
Akumin
7.000%, 11/01/2025 (A)		5,255		4,257
Akumin Escrow
7.500%, 08/01/2028 (A)		1,865		1,263
Albertsons Cos
5.875%, 02/15/2028 (A)		161		157
4.625%, 01/15/2027 (A)		1,636		1,555
3.500%, 03/15/2029 (A)		615		535
Allied Universal Holdco LLC
6.625%, 07/15/2026 (A)		1,814		1,704
4.625%, 06/01/2028 (A)		684		563
APX Group
5.750%, 07/15/2029 (A)		1,163		994
B&G Foods
5.250%, 04/01/2025		871		821
Central Garden & Pet
5.125%, 02/01/2028		1,150		1,081
4.125%, 10/15/2030		422		354


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Chobani LLC
7.500%, 04/15/2025 (A)	$	4,878	$	4,845
4.625%, 11/15/2028 (A)		2,322		2,106
CoreLogic
4.500%, 05/01/2028 (A)		3,385		2,723
Coty
6.500%, 04/15/2026 (A)		33		32
5.000%, 04/15/2026 (A)		1,524		1,464
4.750%, 01/15/2029 (A)		2,800		2,571
CPI CG
8.625%, 03/15/2026 (A)		2,131		2,057
Edgewell Personal Care
5.500%, 06/01/2028 (A)		560		524
4.125%, 04/01/2029 (A)		217		187
Endo DAC
9.500%, 07/31/2027 (A)(B)		1,903		105
6.000%, 06/30/2028 (A)(B)		2,293		126
Endo Luxembourg Finance I Sarl
6.125%, 04/01/2029 (A)(B)		2,355		1,717
Energizer Holdings
6.500%, 12/31/2027 (A)		237		228
4.750%, 06/15/2028 (A)		871		775
4.375%, 03/31/2029 (A)		755		646
Garda World Security
9.500%, 11/01/2027 (A)		560		524
6.000%, 06/01/2029 (A)		429		341
Grifols Escrow Issuer
4.750%, 10/15/2028 (A)		2,593		2,194
High Ridge Brands (Escrow Security)
0.974%, 03/15/2025		800		–
HLF Financing Sarl LLC
4.875%, 06/01/2029 (A)		3,560		2,457
JBS USA LUX
5.500%, 01/15/2030 (A)		3,450		3,278
Lamb Weston Holdings
4.125%, 01/31/2030 (A)		1,447		1,289
Lannett
7.750%, 04/15/2026 (A)(B)		5,135		385
NESCO Holdings II
5.500%, 04/15/2029 (A)		372		329
New Albertsons
8.700%, 05/01/2030		1,149		1,233
8.000%, 05/01/2031		995		1,017
PECF USS Intermediate Holding III
8.000%, 11/15/2029 (A)		3,650		1,889
Performance Food Group
6.875%, 05/01/2025 (A)		80		80
5.500%, 10/15/2027 (A)		574		552
4.250%, 08/01/2029 (A)		495		437
Pilgrim's Pride
6.250%, 07/01/2033		2,159		2,102
3.500%, 03/01/2032		1,296		1,036


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Post Holdings
5.750%, 03/01/2027 (A)	$	54	$	53
5.625%, 01/15/2028 (A)		636		613
5.500%, 12/15/2029 (A)		1,656		1,540
4.625%, 04/15/2030 (A)		224		196
Prime Security Services Borrower LLC
5.750%, 04/15/2026 (A)		1,928		1,886
3.375%, 08/31/2027 (A)		1,080		948
Radiology Partners
9.250%, 02/01/2028 (A)		1,514		416
Rite Aid
8.000%, 11/15/2026 (A)		1,327		696
7.500%, 07/01/2025 (A)		1,719		1,170
RP Escrow Issuer LLC
5.250%, 12/15/2025 (A)		7,145		4,771
Sabre GLBL
11.250%, 12/15/2027 (A)		3,935		3,025
7.375%, 09/01/2025 (A)		268		226
Sigma Holdco BV
7.875%, 05/15/2026 (A)		4,759		4,043
Sotheby's
5.875%, 06/01/2029 (A)		842		663
Spectrum Brands
5.500%, 07/15/2030 (A)		916		838
5.000%, 10/01/2029 (A)		630		562
3.875%, 03/15/2031 (A)		222		182
StoneMor
8.500%, 05/15/2029 (A)		3,210		2,712
Triton Water Holdings
6.250%, 04/01/2029 (A)		4,862		4,056
US Foods
6.250%, 04/15/2025 (A)		1,256		1,253
4.750%, 02/15/2029 (A)		50		46
4.625%, 06/01/2030 (A)		405		364

				85,141

Energy — 10.5%
Aethon United BR
8.250%, 02/15/2026 (A)		1,906		1,844
Antero Midstream Partners
7.875%, 05/15/2026 (A)		323		327
5.750%, 03/01/2027 (A)		235		225
5.750%, 01/15/2028 (A)		337		322
5.375%, 06/15/2029 (A)		500		460
Antero Resources
8.375%, 07/15/2026 (A)		351		364
7.625%, 02/01/2029 (A)		907		923
5.375%, 03/01/2030 (A)		2,017		1,854
Apache
5.100%, 09/01/2040		4,382		3,604
Archrock Partners
6.875%, 04/01/2027 (A)		420		401


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
6.250%, 04/01/2028 (A)	$	1,263	$	1,172
Ascent Resources Utica Holdings LLC
8.250%, 12/31/2028 (A)		2,308		2,230
7.000%, 11/01/2026 (A)		1,489		1,427
5.875%, 06/30/2029 (A)		2,100		1,844
Baytex Energy
8.750%, 04/01/2027 (A)		570		576
8.500%, 04/30/2030 (A)		465		454
Blue Racer Midstream LLC
7.625%, 12/15/2025 (A)		4,385		4,433
Buckeye Partners
4.500%, 03/01/2028 (A)		590		519
4.125%, 03/01/2025 (A)		204		194
California Resources
7.125%, 02/01/2026 (A)		565		574
Cheniere Energy Partners
4.500%, 10/01/2029		1,354		1,240
4.000%, 03/01/2031		741		652
3.250%, 01/31/2032		497		407
Chesapeake Energy
6.750%, 04/15/2029 (A)		1,901		1,859
Chesapeake Energy (Escrow Security)
0.000%, 12/31/2049 (C)(D)		6,045		111
Chord Energy Corp
6.375%, 06/01/2026 (A)		184		181
Citgo Holding
9.250%, 08/01/2024 (A)		4,796		4,802
CITGO Petroleum
6.375%, 06/15/2026 (A)		535		515
CNX Midstream Partners
4.750%, 04/15/2030 (A)		92		76
CNX Resources
7.375%, 01/15/2031 (A)		226		218
Comstock Resources
6.750%, 03/01/2029 (A)		6,164		5,388
5.875%, 01/15/2030 (A)		245		204
CQP Holdco
5.500%, 06/15/2031 (A)		3,450		3,075
Crescent Energy Finance LLC
9.250%, 02/15/2028 (A)		366		354
7.250%, 05/01/2026 (A)		1,220		1,135
Crestwood Midstream Partners
8.000%, 04/01/2029 (A)		964		969
7.375%, 02/01/2031 (A)		1,340		1,315
6.000%, 02/01/2029 (A)		490		453
5.625%, 05/01/2027 (A)		150		142
Delek Logistics Partners
6.750%, 05/15/2025		1,462		1,433
DT Midstream
4.375%, 06/15/2031 (A)		185		155
4.125%, 06/15/2029 (A)		2,976		2,581


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Earthstone Energy Holdings LLC
8.000%, 04/15/2027 (A)	$	1,850	$	1,801
Encino Acquisition Partners Holdings LLC
8.500%, 05/01/2028 (A)		3,608		3,315
Energy Transfer
5.500%, 06/01/2027		2,863		2,818
EnLink Midstream LLC
6.500%, 09/01/2030 (A)		1,608		1,598
5.375%, 06/01/2029		4,392		4,161
EnLink Midstream Partners
4.850%, 07/15/2026		140		135
Enviva Partners
6.500%, 01/15/2026 (A)		3,407		2,698
EQM Midstream Partners
7.500%, 06/01/2027 (A)		170		171
7.500%, 06/01/2030 (A)		212		213
6.500%, 07/01/2027 (A)		1,116		1,090
6.500%, 07/15/2048		4,275		3,492
5.500%, 07/15/2028		61		57
4.750%, 01/15/2031 (A)		1,452		1,246
4.500%, 01/15/2029 (A)		2,766		2,417
Genesis Energy
8.875%, 04/15/2030		925		910
8.000%, 01/15/2027		1,397		1,361
7.750%, 02/01/2028		2,423		2,329
6.500%, 10/01/2025		40		39
6.250%, 05/15/2026		70		66
Gulfport Energy (Escrow Securities) (D)
0.000%, 10/15/2024		470		–
0.000%, 05/15/2025 (C)		311		–
0.000%, 01/15/2026		780		1
Gulfport Energy Corp
8.000%, 05/17/2026 (A)		3,218		3,210
Harvest Midstream I
7.500%, 09/01/2028 (A)		1,825		1,745
Hess Midstream Operations
5.625%, 02/15/2026 (A)		595		584
5.500%, 10/15/2030 (A)		675		612
4.250%, 02/15/2030 (A)		2,665		2,309
Hilcorp Energy I
6.250%, 04/15/2032 (A)		138		123
6.000%, 04/15/2030 (A)		165		149
Holly Energy Partners
6.375%, 04/15/2027 (A)		265		262
Howard Midstream Energy Partners LLC
6.750%, 01/15/2027 (A)		4,960		4,590
ITT Holdings LLC
6.500%, 08/01/2029 (A)		4,162		3,319
Kinetik Holdings
5.875%, 06/15/2030 (A)		202		191
Moss Creek Resources Holdings
10.500%, 05/15/2027 (A)		57		55


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
7.500%, 01/15/2026 (A)	$	2,754	$	2,538
Motiva Enterprises
6.850%, 01/15/2040 (A)		1,713		1,827
Nabors Industries
7.250%, 01/15/2026 (A)		147		134
5.750%, 02/01/2025		510		487
New Fortress Energy
6.750%, 09/15/2025 (A)		2,356		2,169
6.500%, 09/30/2026 (A)		3,911		3,466
NGL Energy Operating LLC
7.500%, 02/01/2026 (A)		3,331		3,183
NGL Energy Partners
7.500%, 04/15/2026		2,280		2,059
6.125%, 03/01/2025		4,126		3,837
Noble Finance II LLC
8.000%, 04/15/2030 (A)		1,296		1,313
Northern Oil and Gas
8.750%, 06/15/2031 (A)		855		836
8.125%, 03/01/2028 (A)		3,513		3,418
NuStar Logistics
6.375%, 10/01/2030		1,092		1,051
6.000%, 06/01/2026		485		471
5.750%, 10/01/2025		177		173
5.625%, 04/28/2027		255		241
Occidental Petroleum
8.875%, 07/15/2030		520		599
6.625%, 09/01/2030		313		326
6.125%, 01/01/2031		4,420		4,492
Patterson-UTI Energy
5.150%, 11/15/2029		925		813
3.950%, 02/01/2028		931		823
Permian Resources Operating LLC
5.875%, 07/01/2029 (A)		2,545		2,383
Pioneer Natural Resources
2.150%, 01/15/2031		2,568		2,099
Precision Drilling
7.125%, 01/15/2026 (A)		490		482
6.875%, 01/15/2029 (A)		97		87
Range Resources
8.250%, 01/15/2029		454		473
4.875%, 05/15/2025		340		333
Rockcliff Energy II LLC
5.500%, 10/15/2029 (A)		5,780		5,310
Seventy Seven Operating LLC (Escrow Security)
6.625%, 01/15/2020 (B)(C)		2,787		–
SM Energy
6.750%, 09/15/2026		931		899
6.500%, 07/15/2028		185		173
5.625%, 06/01/2025		405		391
Southwestern Energy
8.375%, 09/15/2028		100		104


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.375%, 02/01/2029	$	26	$	24
5.375%, 03/15/2030		1,534		1,410
4.750%, 02/01/2032		1,198		1,037
Strathcona Resources
6.875%, 08/01/2026 (A)		5,930		4,996
Summit Midstream Holdings LLC
9.000%, 10/15/2026 (A)(F)		665		634
5.750%, 04/15/2025		2,039		1,672
Sunoco
5.875%, 03/15/2028		2,791		2,688
4.500%, 05/15/2029		2,032		1,809
4.500%, 04/30/2030		2,181		1,913
Tallgrass Energy Partners
7.500%, 10/01/2025 (A)		865		863
6.000%, 03/01/2027 (A)		430		402
6.000%, 12/31/2030 (A)		6,662		5,787
6.000%, 09/01/2031 (A)		910		774
5.500%, 01/15/2028 (A)		165		149
Targa Resources Partners
6.875%, 01/15/2029		516		523
5.500%, 03/01/2030		540		519
4.875%, 02/01/2031		697		641
TerraForm Power Operating LLC
5.000%, 01/31/2028 (A)		5,050		4,734
4.750%, 01/15/2030 (A)		225		202
Transocean
11.500%, 01/30/2027 (A)		2,691		2,753
8.750%, 02/15/2030 (A)		763		763
8.000%, 02/01/2027 (A)		2,795		2,487
7.500%, 04/15/2031		140		106
7.250%, 11/01/2025 (A)		1,183		1,112
6.800%, 03/15/2038		757		513
Transocean Titan Financing
8.375%, 02/01/2028 (A)		90		91
Valaris
8.375%, 04/30/2030 (A)		192		191
Venture Global Calcasieu Pass LLC
4.125%, 08/15/2031 (A)		370		319
3.875%, 11/01/2033 (A)		5,526		4,526
Venture Global LNG
8.125%, 06/01/2028 (A)		421		423
Weatherford International
8.625%, 04/30/2030 (A)		2,488		2,500
Western Midstream Operating
5.500%, 02/01/2050		4,611		3,678
4.300%, 02/01/2030		3,588		3,190

				198,498

Financials — 7.0%
Acrisure LLC
10.125%, 08/01/2026 (A)		1,416		1,432
4.250%, 02/15/2029 (A)		2,019		1,699


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Advisor Group Holdings
10.750%, 08/01/2027 (A)	$	3,229	$	3,108
AG Issuer LLC
6.250%, 03/01/2028 (A)		1,910		1,761
AG TTMT Escrow Issuer LLC
8.625%, 09/30/2027 (A)		627		635
Air Methods
8.000%, 05/15/2025 (A)		6,511		260
Alliant Holdings Intermediate LLC
6.750%, 10/15/2027 (A)		2,324		2,166
5.875%, 11/01/2029 (A)		375		322
Apollo Commercial Real Estate Finance
4.625%, 06/15/2029 (A)		1,369		1,040
Armor Holdco
8.500%, 11/15/2029 (A)		3,065		2,591
AssuredPartners
5.625%, 01/15/2029 (A)		3,805		3,292
Blackstone Mortgage Trust
3.750%, 01/15/2027 (A)		1,514		1,266
Blackstone Private Credit Fund
7.050%, 09/29/2025 (A)		1,395		1,391
2.625%, 12/15/2026		4,809		4,100
Block
3.500%, 06/01/2031		502		410
Bread Financial Holdings
4.750%, 12/15/2024 (A)		1,341		1,258
BroadStreet Partners
5.875%, 04/15/2029 (A)		3,775		3,266
Brookfield Property
5.750%, 05/15/2026 (A)		265		235
4.500%, 04/01/2027 (A)		8,181		6,538
Coinbase Global
3.625%, 10/01/2031 (A)		140		81
3.375%, 10/01/2028 (A)		1,015		640
Finance of America Funding LLC
7.875%, 11/15/2025 (A)		6,532		5,374
FirstCash
5.625%, 01/01/2030 (A)		3,055		2,774
Freedom Mortgage
8.250%, 04/15/2025 (A)		3,080		2,942
8.125%, 11/15/2024 (A)		1,252		1,227
7.625%, 05/01/2026 (A)		360		315
6.625%, 01/15/2027 (A)		1,995		1,656
HAT Holdings I LLC
6.000%, 04/15/2025 (A)		1,116		1,080
3.750%, 09/15/2030 (A)		1,904		1,441
3.375%, 06/15/2026 (A)		883		773
Home Point Capital
5.000%, 02/01/2026 (A)		2,050		1,835


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
HSBC Holdings PLC
4.600%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.649%(G)(H)	$	1,377	$	1,055
HUB International
5.625%, 12/01/2029 (A)		1,590		1,427
Hunt
5.250%, 04/15/2029 (A)		1,725		1,325
Jane Street Group
4.500%, 11/15/2029 (A)		1,615		1,377
JPMorgan Chase
5.000%, TSFR3M + 3.380%(G)(H)		1,299		1,243
4.600%, TSFR3M + 3.125%(G)(H)		875		808
Ladder Capital Finance Holdings LLLP
5.250%, 10/01/2025 (A)		1,246		1,167
4.750%, 06/15/2029 (A)		2,235		1,747
4.250%, 02/01/2027 (A)		4,710		3,990
LD Holdings Group LLC
6.500%, 11/01/2025 (A)		3,495		2,774
6.125%, 04/01/2028 (A)		2,630		1,703
Lloyds Banking Group
7.500%, USD Swap Semi 30/360 5 Yr Curr + 4.760%(G)(H)		2,184		2,102
LPL Holdings
4.625%, 11/15/2027 (A)		3,847		3,567
4.375%, 05/15/2031 (A)		1,195		1,039
4.000%, 03/15/2029 (A)		210		184
Midcap Financial Issuer Trust
6.500%, 05/01/2028 (A)		4,258		3,744
5.625%, 01/15/2030 (A)		1,503		1,179
MPH Acquisition Holdings LLC
5.750%, 11/01/2028 (A)		654		468
5.500%, 09/01/2028 (A)		654		521
Nationstar Mortgage Holdings
6.000%, 01/15/2027 (A)		95		87
5.500%, 08/15/2028 (A)		2,637		2,281
5.125%, 12/15/2030 (A)		242		195
Navient
9.375%, 07/25/2030		2,140		2,054
OneMain Finance
7.125%, 03/15/2026		175		167
6.625%, 01/15/2028		395		358
5.375%, 11/15/2029		4,638		3,791
4.000%, 09/15/2030		3,847		2,839
3.500%, 01/15/2027		597		497
Owl Rock Capital
3.400%, 07/15/2026		2,420		2,141
Paysafe Finance
4.000%, 06/15/2029 (A)		2,004		1,624
PennyMac Financial Services
5.750%, 09/15/2031 (A)		830		668
5.375%, 10/15/2025 (A)		1,763		1,639


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.250%, 02/15/2029 (A)	$	6,433	$	5,171
PRA Group
5.000%, 10/01/2029 (A)		2,920		2,191
Rithm Capital
6.250%, 10/15/2025 (A)		3,013		2,719
Rocket Mortgage LLC
4.000%, 10/15/2033 (A)		3,415		2,572
3.625%, 03/01/2029 (A)		3,644		3,005
2.875%, 10/15/2026 (A)		310		271
Starwood Property Trust
3.750%, 12/31/2024 (A)		1,277		1,198
UBS Group
7.000%, USD Swap Semi 30/360 5 Yr Curr + 4.344%(A)(G)(H)		2,190		2,092
United Wholesale Mortgage LLC
5.750%, 06/15/2027 (A)		1,751		1,579
5.500%, 11/15/2025 (A)		533		499
5.500%, 04/15/2029 (A)		217		181
WeWork LLC
15.000% cash/0% PIK, 08/15/2027 (A)		2,830		2,660
11.000% cash/0% PIK, 08/15/2027 (A)		3,551		1,669

				132,476

Health Care — 4.6%
Acadia Healthcare
5.500%, 07/01/2028 (A)		494		470
5.000%, 04/15/2029 (A)		1,056		968
AHP Health Partners
5.750%, 07/15/2029 (A)		376		320
Avantor Funding
4.625%, 07/15/2028 (A)		843		780
Bausch Health
14.000%, 10/15/2030 (A)		899		561
11.000%, 09/30/2028 (A)		2,494		1,883
9.000%, 12/15/2025 (A)		3,430		2,920
6.250%, 02/15/2029 (A)		139		62
5.750%, 08/15/2027 (A)		180		113
5.500%, 11/01/2025 (A)		2,290		2,032
5.250%, 01/30/2030 (A)		3,694		1,571
5.250%, 02/15/2031 (A)		952		404
5.000%, 01/30/2028 (A)		360		158
5.000%, 02/15/2029 (A)		455		198
4.875%, 06/01/2028 (A)		1,903		1,148
Bausch Health Americas
9.250%, 04/01/2026 (A)		365		301
8.500%, 01/31/2027 (A)		578		304
Bristol-Myers Squibb
2.550%, 11/13/2050		1,765		1,123
Catalent Pharma Solutions
5.000%, 07/15/2027 (A)		55		50
3.500%, 04/01/2030 (A)		427		344


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.125%, 02/15/2029 (A)	$	281	$	229
Centene
4.625%, 12/15/2029		1,073		995
2.625%, 08/01/2031		2,095		1,679
2.500%, 03/01/2031		1,320		1,056
Charles River Laboratories International
4.000%, 03/15/2031 (A)		1,425		1,224
3.750%, 03/15/2029 (A)		670		588
CHS
8.000%, 03/15/2026 (A)		2,473		2,309
6.875%, 04/01/2028 (A)		1,250		697
6.875%, 04/15/2029 (A)		1,805		1,015
6.125%, 04/01/2030 (A)		546		295
6.000%, 01/15/2029 (A)		485		391
5.625%, 03/15/2027 (A)		2,389		2,045
5.250%, 05/15/2030 (A)		1,924		1,445
4.750%, 02/15/2031 (A)		390		280
DaVita
4.625%, 06/01/2030 (A)		630		540
3.750%, 02/15/2031 (A)		985		781
Elanco Animal Health
6.650%, 08/28/2028		350		335
Embecta
6.750%, 02/15/2030 (A)		455		421
Emergent BioSolutions
3.875%, 08/15/2028 (A)		522		287
Encompass Health
4.750%, 02/01/2030		2,499		2,276
4.625%, 04/01/2031		173		151
4.500%, 02/01/2028		476		439
Envision Healthcare
8.750%, 10/15/2026 (A)(B)(E)		3,150		16
Global Medical Response
6.500%, 10/01/2025 (A)		6,085		4,112
HCA
5.875%, 02/15/2026		1,050		1,055
3.500%, 09/01/2030		2,740		2,422
IQVIA
5.000%, 10/15/2026 (A)		390		379
Legacy LifePoint Health LLC
6.750%, 04/15/2025 (A)		2,138		1,907
4.375%, 02/15/2027 (A)		2,323		1,750
LifePoint Health
5.375%, 01/15/2029 (A)		1,010		503
Mallinckrodt International Finance
11.500%, 12/15/2028 (A)		925		684
10.000%, 06/15/2029 (A)		361		129
Medline Borrower
5.250%, 10/01/2029 (A)		653		559
3.875%, 04/01/2029 (A)		6,779		5,846
Molina Healthcare
4.375%, 06/15/2028 (A)		3,590		3,293


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Option Care Health
4.375%, 10/31/2029 (A)	$	1,678	$	1,447
Organon Finance 1 LLC
5.125%, 04/30/2031 (A)		3,630		3,080
4.125%, 04/30/2028 (A)		1,690		1,505
Owens & Minor
6.625%, 04/01/2030 (A)		195		176
4.500%, 03/31/2029 (A)		568		466
Par Pharmaceutical
7.500%, 04/01/2027 (A)(B)		2,227		1,645
Pediatrix Medical Group
5.375%, 02/15/2030 (A)		3,632		3,341
RegionalCare Hospital Partners Holdings
9.750%, 12/01/2026 (A)		856		642
Syneos Health
3.625%, 01/15/2029 (A)		2,383		2,306
Team Health Holdings Inc.
6.375%, 02/01/2025 (A)		4,326		1,892
Tenet Healthcare
6.750%, 05/15/2031 (A)		2,183		2,181
6.250%, 02/01/2027		880		867
6.125%, 10/01/2028		1,300		1,232
6.125%, 06/15/2030 (A)		3,097		2,993
5.125%, 11/01/2027		610		583
4.875%, 01/01/2026		1,213		1,173
4.625%, 06/15/2028		3,479		3,236
4.375%, 01/15/2030		190		169
US Acute Care Solutions LLC
6.375%, 03/01/2026 (A)		1,309		1,109

				87,886

Industrials — 8.9%
ACCO Brands
4.250%, 03/15/2029 (A)		950		800
Allegiant Travel
7.250%, 08/15/2027 (A)		1,282		1,272
Allison Transmission
5.875%, 06/01/2029 (A)		855		825
4.750%, 10/01/2027 (A)		834		790
3.750%, 01/30/2031 (A)		417		352
American Airlines
5.750%, 04/20/2029 (A)		8,725		8,360
5.500%, 04/20/2026 (A)		1,690		1,659
American Airlines Group
3.750%, 03/01/2025 (A)		1,678		1,585
APi Group DE
4.750%, 10/15/2029 (A)		1,744		1,567
4.125%, 07/15/2029 (A)		365		317
ARD Finance
6.500% cash/0% PIK, 06/30/2027 (A)		4,728		3,675
Ardagh Metal Packaging Finance USA LLC
3.250%, 09/01/2028 (A)		1,352		1,154


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Ardagh Packaging Finance
5.250%, 04/30/2025 (A)	$	1,933	$	1,894
5.250%, 08/15/2027 (A)		4,060		3,409
4.125%, 08/15/2026 (A)		519		485
Artera Services LLC
9.033%, 12/04/2025 (A)		2,137		1,827
ATS
4.125%, 12/15/2028 (A)		493		441
Avis Budget Car Rental LLC
5.750%, 07/15/2027 (A)		625		583
5.375%, 03/01/2029 (A)		396		357
4.750%, 04/01/2028 (A)		365		325
Beacon Roofing Supply
4.500%, 11/15/2026 (A)		1,284		1,214
Bombardier
7.875%, 04/15/2027 (A)		3,142		3,107
7.500%, 03/15/2025 (A)		308		308
7.500%, 02/01/2029 (A)		1,310		1,272
Builders FirstSource
6.375%, 06/15/2032 (A)		367		361
4.250%, 02/01/2032 (A)		348		299
BWX Technologies
4.125%, 06/30/2028 (A)		692		626
4.125%, 04/15/2029 (A)		1,285		1,137
Camelot Return Merger Sub
8.750%, 08/01/2028 (A)		2,135		2,012
Chart Industries
9.500%, 01/01/2031 (A)		2,828		2,957
7.500%, 01/01/2030 (A)		178		180
Clean Harbors
6.375%, 02/01/2031 (A)		874		876
Clydesdale Acquisition Holdings
8.750%, 04/15/2030 (A)		1,395		1,207
Conduent Business Services LLC
6.000%, 11/01/2029 (A)		580		474
CoreCivic
8.250%, 04/15/2026		527		527
CP Atlas Buyer
7.000%, 12/01/2028 (A)		1,996		1,462
Delta Air Lines
4.750%, 10/20/2028 (A)		546		527
4.375%, 04/19/2028		614		576
Deluxe
8.000%, 06/01/2029 (A)		4,090		3,147
Dycom Industries
4.500%, 04/15/2029 (A)		603		545
Emerald Debt Merger Sub LLC
6.625%, 12/15/2030 (A)		2,564		2,543
EnerSys
4.375%, 12/15/2027 (A)		892		829
EnPro Industries
5.750%, 10/15/2026		404		395


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
First Student Bidco
4.000%, 07/31/2029 (A)	$	35	$	29
GFL Environmental
4.750%, 06/15/2029 (A)		100		91
4.375%, 08/15/2029 (A)		2,123		1,885
4.000%, 08/01/2028 (A)		859		767
3.750%, 08/01/2025 (A)		490		464
3.500%, 09/01/2028 (A)		2,860		2,549
Global Infrastructure Solutions
7.500%, 04/15/2032 (A)		285		240
5.625%, 06/01/2029 (A)		580		479
GrafTech Finance
4.625%, 12/15/2028 (A)		3,535		2,819
Graham Packaging
7.125%, 08/15/2028 (A)		312		264
Griffon
5.750%, 03/01/2028		760		701
H&E Equipment Services
3.875%, 12/15/2028 (A)		3,449		2,960
Harsco
5.750%, 07/31/2027 (A)		766		662
Hawaiian Brand Intellectual Property
5.750%, 01/20/2026 (A)		3,298		3,066
Hertz
5.000%, 12/01/2029 (A)		927		744
4.625%, 12/01/2026 (A)		1,419		1,266
Hillenbrand
5.000%, 09/15/2026		70		68
Icahn Enterprises
4.750%, 09/15/2024		2,030		1,900
Imola Merger
4.750%, 05/15/2029 (A)		1,235		1,062
JELD-WEN
6.250%, 05/15/2025 (A)		235		237
4.875%, 12/15/2027 (A)		337		293
4.625%, 12/15/2025 (A)		560		541
Knife River
7.750%, 05/01/2031 (A)		105		106
Korn Ferry
4.625%, 12/15/2027 (A)		3,875		3,670
LABL
10.500%, 07/15/2027 (A)		450		419
6.750%, 07/15/2026 (A)		2,030		1,952
Madison IAQ LLC
5.875%, 06/30/2029 (A)		550		419
4.125%, 06/30/2028 (A)		285		246
MasTec
4.500%, 08/15/2028 (A)		825		760
Mauser Packaging Solutions Holding
9.250%, 04/15/2027 (A)		3,768		3,439
7.875%, 08/15/2026 (A)		1,585		1,571


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Mileage Plus Holdings LLC
6.500%, 06/20/2027 (A)	$	3,036	$	3,030
MIWD Holdco II LLC
5.500%, 02/01/2030 (A)		190		153
Moog
4.250%, 12/15/2027 (A)		1,212		1,130
PGT Innovations
4.375%, 10/01/2029 (A)		233		213
Pitney Bowes
7.250%, 03/15/2029 (A)		2,045		1,467
6.875%, 03/15/2027 (A)		350		268
Raytheon Technologies
3.030%, 03/15/2052		1,005		694
Regal Rexnord
6.400%, 04/15/2033 (A)		271		268
6.300%, 02/15/2030 (A)		194		193
6.050%, 04/15/2028 (A)		455		450
Rolls-Royce
3.625%, 10/14/2025 (A)		1,309		1,229
Science Applications International
4.875%, 04/01/2028 (A)		3,734		3,477
Sensata Technologies BV
4.000%, 04/15/2029 (A)		1,244		1,108
Signature Aviation US Holdings
4.000%, 03/01/2028 (A)		1,806		1,630
Smyrna Ready Mix Concrete LLC
6.000%, 11/01/2028 (A)		1,370		1,274
Spirit AeroSystems
9.375%, 11/30/2029 (A)		1,113		1,186
7.500%, 04/15/2025 (A)		1,742		1,720
Spirit Loyalty Cayman
8.000%, 09/20/2025 (A)		1,232		1,244
SS&C Technologies
5.500%, 09/30/2027 (A)		1,020		974
Standard Industries
5.000%, 02/15/2027 (A)		1,320		1,239
4.750%, 01/15/2028 (A)		1,400		1,283
4.375%, 07/15/2030 (A)		3,019		2,549
3.375%, 01/15/2031 (A)		139		109
Stericycle
3.875%, 01/15/2029 (A)		503		444
Summit Materials LLC
5.250%, 01/15/2029 (A)		2,985		2,801
Terex
5.000%, 05/15/2029 (A)		385		357
TK Elevator US Newco
5.250%, 07/15/2027 (A)		2,376		2,187
TransDigm
6.750%, 08/15/2028 (A)		1,562		1,564
6.250%, 03/15/2026 (A)		7,302		7,252
5.500%, 11/15/2027		3,161		2,971


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Trident TPI Holdings
12.750%, 12/31/2028 (A)	$	1,525	$	1,559
Triumph Group
9.000%, 03/15/2028 (A)		170		172
7.750%, 08/15/2025		470		450
Trivium Packaging Finance BV
8.500%, 08/15/2027 (A)		2,985		2,811
5.500%, 08/15/2026 (A)		2,062		1,959
Tutor Perini Corp.
6.875%, 05/01/2025 (A)		8,259		6,309
Uber Technologies
7.500%, 09/15/2027 (A)		300		308
4.500%, 08/15/2029 (A)		419		382
United Airlines
4.625%, 04/15/2029 (A)		3,299		2,988
4.375%, 04/15/2026 (A)		3,032		2,869
United Rentals North America
6.000%, 12/15/2029 (A)		2,359		2,359
5.250%, 01/15/2030		2,400		2,275
US Airways Pass Through Trust, Ser 2013-1, Cl A
3.950%, 11/15/2025		582		542
Vertiv Group
4.125%, 11/15/2028 (A)		1,298		1,161
WESCO Distribution
7.250%, 06/15/2028 (A)		903		923
7.125%, 06/15/2025 (A)		551		555
Western Global Airlines LLC
10.375%, 08/15/2025 (A)		1,200		78
XPO
6.250%, 06/01/2028 (A)		2,060		2,027

				168,118

Information Technology — 4.0%
ACI Worldwide
5.750%, 08/15/2026 (A)		667		659
Ahead DB Holdings LLC
6.625%, 05/01/2028 (A)		4,037		3,280
ams-OSRAM
7.000%, 07/31/2025 (A)		2,573		2,251
Apple
2.650%, 05/11/2050		1,670		1,149
2.375%, 02/08/2041		300		220
AthenaHealth Group
6.500%, 02/15/2030 (A)		4,128		3,400
Black Knight InfoServ LLC
3.625%, 09/01/2028 (A)		1,647		1,474
CDW LLC
4.250%, 04/01/2028		185		171
3.250%, 02/15/2029		270		231
Ciena
4.000%, 01/31/2030 (A)		1,600		1,382


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Clarivate Science Holdings
4.875%, 07/01/2029 (A)	$	321	$	276
3.875%, 07/01/2028 (A)		253		223
Coherent
5.000%, 12/15/2029 (A)		6,194		5,508
CommScope
8.250%, 03/01/2027 (A)		8,766		6,877
7.125%, 07/01/2028 (A)		3,035		2,041
6.000%, 03/01/2026 (A)		950		892
4.750%, 09/01/2029 (A)		689		543
CommScope Technologies LLC
6.000%, 06/15/2025 (A)		6,008		5,647
5.000%, 03/15/2027 (A)		365		245
Consensus Cloud Solutions
6.500%, 10/15/2028 (A)		2,090		1,822
Crowdstrike Holdings
3.000%, 02/15/2029		1,674		1,459
Elastic
4.125%, 07/15/2029 (A)		2,494		2,157
Entegris
4.375%, 04/15/2028 (A)		535		492
3.625%, 05/01/2029 (A)		1,306		1,127
Entegris Escrow
5.950%, 06/15/2030 (A)		124		120
4.750%, 04/15/2029 (A)		2,089		1,953
Go Daddy Operating LLC
5.250%, 12/01/2027 (A)		2,173		2,075
3.500%, 03/01/2029 (A)		1,150		995
McAfee
7.375%, 02/15/2030 (A)		1,163		978
Monitronics International (Escrow Security)
9.125%, 04/01/2020 (B)(C)		10,706		–
NCR
6.125%, 09/01/2029 (A)		455		451
5.750%, 09/01/2027 (A)		740		736
5.125%, 04/15/2029 (A)		553		484
5.000%, 10/01/2028 (A)		178		157
ON Semiconductor
3.875%, 09/01/2028 (A)		456		412
Open Text Holdings
4.125%, 02/15/2030 (A)		3,083		2,610
Presidio Holdings
4.875%, 02/01/2027 (A)		425		397
Seagate HDD Cayman
8.500%, 07/15/2031 (A)		60		62
8.250%, 12/15/2029 (A)		240		245
3.375%, 07/15/2031		1,344		925
Sprint Capital
8.750%, 03/15/2032		2,950		3,584
Sprint LLC
7.625%, 02/15/2025		650		666


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Synaptics
4.000%, 06/15/2029 (A)	$	3,404	$	2,851
Veritas US
7.500%, 09/01/2025 (A)		3,255		2,434
ViaSat
6.500%, 07/15/2028 (A)		3,575		2,901
5.625%, 09/15/2025 (A)		2,183		2,098
Virtusa
7.125%, 12/15/2028 (A)		2,365		1,886
Western Digital Corp
4.750%, 02/15/2026		2,090		1,991
Xerox Holdings
5.500%, 08/15/2028 (A)		442		376

				74,913

Materials — 5.9%
Alcoa Nederland Holding BV
6.125%, 05/15/2028 (A)		200		196
5.500%, 12/15/2027 (A)		200		195
Arconic
6.125%, 02/15/2028 (A)		1,155		1,166
Ashland LLC
6.875%, 05/15/2043		1,384		1,385
ASP Unifrax Holdings
5.250%, 09/30/2028 (A)		4,065		3,062
ATI
5.875%, 12/01/2027		276		263
5.125%, 10/01/2031		137		120
4.875%, 10/01/2029		267		237
Axalta Coating Systems LLC
4.750%, 06/15/2027 (A)		699		661
3.375%, 02/15/2029 (A)		2,188		1,874
Baffinland Iron Mines
8.750%, 07/15/2026 (A)		3,790		3,640
Ball
6.000%, 06/15/2029		2,699		2,703
2.875%, 08/15/2030		2,680		2,215
Big River Steel LLC
6.625%, 01/31/2029 (A)		477		473
Carpenter Technology
7.625%, 03/15/2030		103		103
6.375%, 07/15/2028		281		271
CF Industries
5.150%, 03/15/2034		3,564		3,380
Chemours
5.750%, 11/15/2028 (A)		2,647		2,330
4.625%, 11/15/2029 (A)		2,028		1,642
Cleveland-Cliffs
6.750%, 04/15/2030 (A)		1,500		1,417
4.625%, 03/01/2029 (A)		460		409
Compass Minerals International
6.750%, 12/01/2027 (A)		1,303		1,246


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Cornerstone Chemical
10.250% cash/0% PIK, 09/01/2027 (A)	$	11,735	$	10,386
CVR Partners
6.125%, 06/15/2028 (A)		2,131		1,849
Domtar
6.750%, 10/01/2028 (A)		4,585		3,991
Eldorado Gold
6.250%, 09/01/2029 (A)		1,366		1,226
Element Solutions
3.875%, 09/01/2028 (A)		3,618		3,166
ERO Copper
6.500%, 02/15/2030 (A)		3,005		2,599
First Quantum Minerals
7.500%, 04/01/2025 (A)		726		725
FMG Resources August 2006 Pty
4.500%, 09/15/2027 (A)		1,395		1,321
Freeport-McMoRan
5.400%, 11/14/2034		781		749
4.625%, 08/01/2030		979		917
Glatfelter
4.750%, 11/15/2029 (A)		267		170
INEOS Finance
6.750%, 05/15/2028 (A)		1,503		1,480
INEOS Quattro Finance 2
3.375%, 01/15/2026 (A)		630		578
Innophos Holdings
9.375%, 02/15/2028 (A)		4,020		4,020
LSB Industries
6.250%, 10/15/2028 (A)		3,490		3,158
Martin Marietta Materials
2.400%, 07/15/2031		1,282		1,048
Methanex
5.125%, 10/15/2027		1,375		1,280
Mineral Resources MTN
8.500%, 05/01/2030 (A)		870		873
8.000%, 11/01/2027 (A)		1,220		1,224
Mountain Province Diamonds, Inc.
9.000%, 12/15/2025 (A)(C)		2,699		2,623
NMG Holding
7.125%, 04/01/2026 (A)		3,940		3,546
Northwest Acquisitions ULC
7.125%, 11/01/2022 (A)(B)(C)(E)		3,290		–
NOVA Chemicals
5.250%, 06/01/2027 (A)		770		695
5.000%, 05/01/2025 (A)		1,451		1,419
4.875%, 06/01/2024 (A)		530		518
4.250%, 05/15/2029 (A)		385		317
Novelis
4.750%, 01/30/2030 (A)		465		413
3.875%, 08/15/2031 (A)		2,920		2,398
3.250%, 11/15/2026 (A)		1,157		1,045


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
OI European Group BV
4.750%, 02/15/2030 (A)	$	2,454	$	2,218
Owens-Brockway Glass Container
6.625%, 05/13/2027 (A)		561		560
5.875%, 08/15/2023 (A)		342		341
Polar US Borrower LLC
6.750%, 05/15/2026 (A)		3,509		2,184
Rain CII Carbon LLC
7.250%, 04/01/2025 (A)		3,520		3,413
SCIH Salt Holdings
6.625%, 05/01/2029 (A)		7,346		6,085
4.875%, 05/01/2028 (A)		341		302
Scotts Miracle-Gro
5.250%, 12/15/2026		121		115
4.500%, 10/15/2029		314		268
4.375%, 02/01/2032		366		292
4.000%, 04/01/2031		461		366
Tacora Resources Inc
13.000%, 09/08/2023 (C)		197		177
8.250%, 05/15/2026 (A)(B)		2,660		2,022
Taseko Mines
7.000%, 02/15/2026 (A)		2,299		2,061
TriMas
4.125%, 04/15/2029 (A)		522		463
Trinseo Materials Operating SCA
5.375%, 09/01/2025 (A)		810		638
5.125%, 04/01/2029 (A)		414		224
Tronox
4.625%, 03/15/2029 (A)		5,873		4,767
Venator Finance Sarl
9.500%, 07/01/2025 (A)(B)		395		277
5.750%, 07/15/2025 (A)(B)		485		53
WR Grace Holdings LLC
5.625%, 08/15/2029 (A)		1,961		1,628
4.875%, 06/15/2027 (A)		385		357

				111,533

Real Estate — 2.3%
American Tower
3.100%, 06/15/2050		905		579
2.950%, 01/15/2051		150		93
2.100%, 06/15/2030		2,167		1,762
Crown Castle
3.250%, 01/15/2051		350		234
2.900%, 04/01/2041		995		688
Cushman & Wakefield US Borrower LLC
6.750%, 05/15/2028 (A)		706		630
Diversified Healthcare Trust
4.750%, 05/01/2024		4,970		4,534
4.750%, 02/15/2028		1,240		844
4.375%, 03/01/2031		4,090		2,927


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Iron Mountain
5.250%, 03/15/2028 (A)	$	281	$	263
5.250%, 07/15/2030 (A)		1,140		1,021
5.000%, 07/15/2028 (A)		395		362
4.875%, 09/15/2027 (A)		410		383
4.875%, 09/15/2029 (A)		4,493		4,007
Outfront Media Capital LLC
4.250%, 01/15/2029 (A)		2,710		2,217
Realogy Group LLC
5.250%, 04/15/2030 (A)		615		427
RHP Hotel Properties
4.750%, 10/15/2027		962		891
4.500%, 02/15/2029 (A)		447		395
SBA Communications
3.125%, 02/01/2029		2,279		1,920
Service Properties Trust
5.500%, 12/15/2027		950		826
4.950%, 02/15/2027		4,113		3,425
4.375%, 02/15/2030		3,245		2,355
4.350%, 10/01/2024		1,309		1,256
3.950%, 01/15/2028		1,355		1,035
Uniti Group
10.500%, 02/15/2028 (A)		905		878
6.000%, 01/15/2030 (A)		1,322		815
VICI Properties
5.750%, 02/01/2027 (A)		357		352
5.625%, 05/01/2024 (A)		315		313
4.750%, 02/15/2028		1,500		1,428
4.625%, 06/15/2025 (A)		411		397
4.625%, 12/01/2029 (A)		655		597
4.500%, 09/01/2026 (A)		225		213
4.500%, 01/15/2028 (A)		175		163
4.250%, 12/01/2026 (A)		687		644
4.125%, 08/15/2030 (A)		4,231		3,708
3.875%, 02/15/2029 (A)		396		350
3.750%, 02/15/2027 (A)		902		835
3.500%, 02/15/2025 (A)		22		21

				43,788

Utilities — 2.0%
AmeriGas Partners
9.375%, 06/01/2028 (A)		210		210
5.875%, 08/20/2026		235		219
5.500%, 05/20/2025		210		202
Calpine
5.000%, 02/01/2031 (A)		270		218
4.625%, 02/01/2029 (A)		1,430		1,209
4.500%, 02/15/2028 (A)		4,815		4,382
Clearway Energy Operating LLC
3.750%, 02/15/2031 (A)		3,155		2,647


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
NRG Energy
10.250%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.920%(A)(G)(H)	$	2,738	$	2,594
7.000%, 03/15/2033 (A)		413		417
5.250%, 06/15/2029 (A)		605		545
3.875%, 02/15/2032 (A)		1,753		1,361
3.625%, 02/15/2031 (A)		4,910		3,869
3.375%, 02/15/2029 (A)		515		425
Pattern Energy Operations
4.500%, 08/15/2028 (A)		2,540		2,307
PG&E
5.250%, 07/01/2030		4,246		3,837
5.000%, 07/01/2028		347		320
Pike
5.500%, 09/01/2028 (A)		310		277
Solaris Midstream Holdings LLC
7.625%, 04/01/2026 (A)		2,012		1,952
Talen Energy Supply LLC
8.625%, 06/01/2030 (A)		2,135		2,173
Vistra
8.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 6.930%(A)(G)(H)		1,190		1,108
7.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.740%(A)(G)(H)		435		382
Vistra Operations LLC
5.625%, 02/15/2027 (A)		830		798
5.000%, 07/31/2027 (A)		4,390		4,125
4.375%, 05/01/2029 (A)		2,020		1,761
4.300%, 07/15/2029 (A)		559		499

				37,837

Total Corporate Obligations
(Cost $1,644,118) ($ Thousands)				1,439,143



LOAN PARTICIPATIONS — 9.8%
1236904 B.C. Ltd., Initial Term Loan, 1st Lien
10.654%, LIBOR + 5.500%, 03/04/2027 (G)		2,475		2,359
AAdvantage Loyality IP Ltd. (American Airlines, Inc.), Initial Term Loan, 1st Lien
10.000%, LIBOR + 4.750%, 04/20/2028 (G)(I)		1,045		1,048
ACProducts Holdings, Inc., Initial Term Loan, 1st Lien
9.409%, LIBOR + 4.250%, 05/17/2028 (G)		590		478


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Adient US LLC, Term B-1 Loan, 1st Lien
8.518%, LIBOR + 3.250%, 04/10/2028 (G)	$	330	$	329
Ahead DB Borrower LLC, Term B Loan, 1st Lien
8.909%, 10/18/2027		150		141
Alchemy US Holdco 1, LLC, Initial Term Loan, 1st Lien
10.654%, LIBOR + 5.500%, 10/10/2025 (G)		1,696		1,602
Alvogen Pharma, Extended Term Loan, 1st Lien
12.548%, CME Term SOFR + 7.500%, 06/30/2025 (G)		3,078		2,570
ANI Technologies, Term Loan, 1st Lien
11.432%, CME Term SOFR + 6.250%, 12/15/2026 (G)		3,846		3,615
AP Core Holdings II, LLC, Term B-1 Loan, 1st Lien
10.654%, LIBOR + 5.500%, 09/01/2027 (G)		515		491
Arctic Canadian Diamond Co., 2nd Lien
17.500%, 12/31/2027 (C)		1,976		1,956
Avantor Funding Inc., 2021 Incremental B-5 Dollar Term Loan
7.332%, LIBOR + 2.250%, 11/08/2027 (G)		942		938
Avaya Inc., Initial Term Loan
13.543%, CME Term SOFR + 8.500%, 08/01/2028 (G)		4,307		3,952
Bausch Health Companies Inc., Second Amendment Term Loan, 1st Lien
10.416%, CME Term SOFR + 5.250%, 02/01/2027 (G)		3,566		2,804
Blackhawk Network, Temr Loan, 2nd Lien
12.250%, 06/15/2026		2,412		2,267
BoardRiders Inc., Tranche A Loan, 1st Lien
14.837%, LIBOR + 6.500%, 10/23/2023 (C)(G)		597		585
BoardRiders Inc., Tranche B-2 Loan, 1st Lien
14.837%, LIBOR + 6.500%, 04/23/2024 (C)(G)		2,943		2,884
Bright Bidco, Term Loan
14.045%, CME Term SOFR + 9.000%, 10/31/2027 (G)		5		3
Byju's, Term Loan, 1st Lien
12.928%, LIBOR + 8.000%, 11/24/2026 (G)(I)		2,982		1,959
Carestream Health, Inc., Term Loan
12.498%, CME Term SOFR + 7.500%, 09/30/2027 (G)(I)		2,564		1,800


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Castle US Holding Corp., Incremental Term B Loan, 1st Lien
9.025%, LIBOR + 4.000%, 01/29/2027 (G)(I)	$	1,980	$	1,360
Castle US Holding Corp., Initial Dollar Term Loan, 1st Lien
8.904%, LIBOR + 3.750%, 01/29/2027 (G)(I)		1,490		1,041
Cenveo, Term Loan
12.642%, 12/31/2024 (C)		544		544
Claire's Stores, Inc., Initial Term Loan, 1st Lien
11.753%, CME Term SOFR + 6.500%, 12/18/2026 (G)		1,986		1,834
Clear Channel Outdoor Holdings, Inc., Term B Loan, 1st Lien
8.807%, CME Term SOFR + 3.500%, 08/21/2026 (G)		229		215
ClubCorp Holdings, Inc., Term B Loan, 1st Lien
7.904%, LIBOR + 2.750%, 09/18/2024 (G)(I)		3,454		3,232
CMG Media Corp., 2021 Term B Loan, 1st Lien
8.659%, LIBOR + 3.500%, 12/17/2026 (G)(I)		942		782
ConvergeOne Holdings, Corp., Initial Term Loan, 1st Lien
10.372%, LIBOR + 5.000%, 01/04/2026 (G)(I)		3,506		2,213
DexKo Global Inc., Closing Date Dollar Term Loan, 1st Lien
8.909%, LIBOR + 3.750%, 10/04/2028 (G)		594		561
DIRECTV Financing, LLC, Closing Date Term Loan, 1st Lien
10.154%, LIBOR + 5.000%, 08/02/2027 (G)		1,894		1,794
East Valley Tourist Development Authority , Term Loan, 1st Lien
12.365%, CME Term SOFR + 7.500%, 11/23/2026 (C)(G)		4,249		4,130
Envision Healthcare Corp., 2018 Third Out Term Loan, 1st Lien
8.648%, CME Term SOFR + 3.750%, 03/31/2027 (G)		1,412		12
Envision Healthcare Corp., Second Out Term Loan, 1st Lien
9.148%, CME Term SOFR + 4.250%, 03/31/2027 (G)(I)		9,622		1,399
Envision Healthcare Corp., Term Loan
12.923%, CME Term SOFR + 7.875%, 03/31/2027 (G)(I)		1,150		1,091


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Epic Crude Services, LP, Term Loan, 1st Lien
9.960%, LIBOR + 5.000%, 03/02/2026 (G)	$	1,533	$	1,425
Epic Y-Grade Services, 1st Lien
10.960%, LIBOR + 6.000%, 06/30/2027 (G)(I)		11,845		10,491
First Student Bidco Inc., 2022 Incremental Term B Loan, 1st Lien
8.998%, CME Term SOFR + 4.000%, 07/21/2028 (G)		403		387
First Student Bidco Inc., 2022 Incremental Term C Loan, 1st Lien
8.998%, CME Term SOFR + 4.000%, 07/21/2028 (G)		28		27
First Student Bidco Inc., Initial Term B Loan, 1st Lien
8.143%, LIBOR + 3.000%, 07/21/2028 (G)		422		391
First Student Bidco Inc., Initial Term C Loan, 1st Lien
8.143%, LIBOR + 3.000%, 07/21/2028 (G)		158		146
Foresight Energy Operating LLC, Tranche A Term Loan, 1st Lien
13.159%, LIBOR + 8.000%, 06/30/2027 (G)		412		391
Freeport LNG Investments, LLLP, Initial Term B Loan, 1st Lien
8.750%, LIBOR + 3.500%, 12/21/2028 (G)		1,823		1,740
Freeport LNG Investments, LLLP, Term Loan, 1st Lien
8.250%, 11/16/2026 (I)		1,357		1,297
GatesAir, Term Loan
14.658%, 08/01/2027 (C)		1,752		1,752
Genesys Cloud Services Holdings I, LLC, Initial Dollar Term Loan (2020), 1st Lien
9.154%, LIBOR + 4.000%, 12/01/2027 (G)		498		485
Global Medical Response, Inc., 2018 New Term Loan, 1st Lien
9.404%, LIBOR + 4.250%, 03/14/2025 (G)(I)		1,945		1,344
Global Medical Response, Inc., 2021 Refinancing Term Loan, 1st Lien
9.236%, LIBOR + 4.250%, 10/02/2025 (G)(I)		1,724		1,196
Graham Packaging Company Inc., Initial Term Loan (2021), 1st Lien
8.268%, CME Term SOFR + 3.000%, 08/04/2027 (G)		525		512


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Gulf Finance, LLC, Term Loan, 1st Lien
11.919%, CME Term SOFR + 6.750%, 08/25/2026 (G)	$	3,387	$	3,256
Hercules Achievement, Inc. (Varsity Brands Holding Co., Inc.), Third Amendment Extended Term Loan, 1st Lien
10.268%, CME Term SOFR + 5.000%, 12/15/2026 (G)		775		719
Hub International Limited, B-3 Incremental Term Loan, 1st Lien
8.414%, LIBOR + 3.250%, 04/25/2025 (G)		1,017		1,010
Husky Injection Molding Systems Ltd., Initial Term Loan, 1st Lien
8.151%, LIBOR + 3.000%, 03/28/2025 (G)(I)		1,316		1,245
Hyland Software, Inc., 2018 Refinancing Term Loan, 1st Lien
8.525%, LIBOR + 3.500%, 07/01/2024 (G)(I)		2,196		2,151
iHeartCommunications, Inc. (fka Clear Channel Communications, Inc.), New Term Loan, 1st Lien
8.025%, LIBOR + 3.000%, 05/01/2026 (G)		643		502
IRB Holding Corp., 2022 Replacement Term B Loan, 1st Lien
8.253%, CME Term SOFR + 3.000%, 12/15/2027 (G)(I)		935		906
JC Penney, 1st Lien
5.250%, LIBOR + 4.250%, 06/23/2023 (B)(C)(G)		3,751		—
Journey Personal Care, 1st Lien
9.409%, LIBOR + 4.250%, 03/01/2028 (G)		3,704		3,111
Jump Financial, LLC, Term Loan, 1st Lien
9.660%, CME Term SOFR + 4.500%, 08/07/2028 (G)		3,852		3,515
LABL, Inc., Initial Dollar Term Loan, 1st Lien
10.253%, CME Term SOFR + 5.000%, 10/29/2028 (G)		487		473
LifePoint Health Inc., (fka Regionalcare Hospital Partners Holdings Inc.), Term B Loan, 1st Lien
9.023%, LIBOR + 8.250%, 11/16/2025 (G)(I)		389		340
LifeScan Global Corp., Initial Term Loan, 1st Lien
11.177%, LIBOR + 6.000%, 10/01/2024 (G)(I)		8,772		7,125
0.000%, 12/31/2026 (D)(G)		1,821		1,485


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Lightstone Holdco LLC, Extended Term B Loan, 1st Lien
10.903%, CME Term SOFR + 5.750%, 01/29/2027 (G)	$	1,999	$	1,777
Lightstone Holdco LLC, Extended Term C Loan, 1st Lien
10.903%, CME Term SOFR + 5.750%, 01/29/2027 (G)		113		100
Lumen Technologies Inc., Term A Loan, 1st Lien
7.097%, LIBOR + 2.000%, 01/31/2025 (G)		1,291		1,200
Madison IAQ LLC, Initial Term Loan, 1st Lien
8.302%, LIBOR + 3.250%, 06/21/2028 (G)		436		417
Magnite, Inc., Initial Term Loan, 1st Lien
10.235%, LIBOR + 5.000%, 04/28/2028 (G)		1,136		1,115
Mashantucket (Western) Pequot Tribe, Term B Loan, 1st Lien
12.150%, LIBOR + 7.125%, 02/16/2025 (C)(G)		5,214		5,149
Mavenir Systems, Inc., Initial Term Loan, 1st Lien
10.914%, CME Term SOFR + 5.750%, 08/18/2028 (G)		689		564
10.143%, LIBOR + 4.750%, 08/18/2028 (E)(G)(I)		4,328		3,502
Medline Borrower, LP, Initial Dollar Term Loan, 1st Lien
8.404%, LIBOR + 3.250%, 10/23/2028 (G)		288		279
Misys Limited, Dollar Term Loan, 1st Lien
8.655%, LIBOR + 3.500%, 06/13/2024 (G)		2,930		2,781
Mitnick Corporate Purchaser Inc., Initial Term Loan, 1st Lien
9.895%, CME Term SOFR + 4.750%, 05/02/2029 (G)		1,291		1,220
MLN U.S. HoldCo LLC, Term B Loan, 1st Lien
9.557%, LIBOR + 4.500%, 11/30/2025 (G)		1,157		284
Mountaineer Merger Corp, Term Loan, 1st Lien
12.299%, LIBOR + 7.000%, 10/26/2028 (G)		2,851		2,409
Naked Juice LLC, Initial Loan, 2nd Lien
10.998%, CME Term SOFR + 6.000%, 01/24/2030 (G)(I)		2,587		1,934
NEP Group Inc., Initial Dollar Term Loan, 1st Lien
8.518%, CME Term SOFR + 3.250%, 10/20/2025 (G)(I)		910		778


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Nexus Buyer LLC, Initial Term Loan, 2nd Lien
11.503%, CME Term SOFR + 6.250%, 11/05/2029 (G)	$	1,140	$	1,003
Nine West Holdings Inc., Term Loan
14.145%, LIBOR + 8.000%, 03/20/2024 (C)(G)		1,887		1,411
Nouryon Finance B.V., Initial Dollar Term Loan, 1st Lien
7.895%, CME Term SOFR + 2.750%, 10/01/2025 (G)		720		717
Open Text Corp., Term B Loan, 1st Lien
8.753%, CME Term SOFR + 3.500%, 01/31/2030 (G)		1,671		1,667
Park River Holdings, Inc., Initial Term Loan, 1st Lien
8.522%, LIBOR + 3.250%, 12/28/2027 (G)		227		213
Petco Health and Wellness Company, Inc., Initial Term Loan, 1st Lien
8.410%, CME Term SOFR + 3.250%, 03/03/2028 (G)		611		598
Pluto Acquisition I, Inc., 2021 Term Loan, 1st Lien
9.476%, LIBOR + 4.000%, 06/22/2026 (G)(I)		1,416		1,160
Polaris Newco, LLC, Dollar Term Loan, 1st Lien
9.159%, LIBOR + 4.000%, 06/02/2028 (G)		1,979		1,769
Prairie ECI Acquiror LP, Initial Term Loan, 1st Lien
9.904%, LIBOR + 4.750%, 03/11/2026 (G)		915		896
Pug LLC, Term B-2 Loan, 1st Lien
9.404%, LIBOR + 4.250%, 02/12/2027 (G)		1,953		1,679
Pug LLC, USD Term B Loan, 1st Lien
8.654%, LIBOR + 3.500%, 02/12/2027 (G)		4,699		4,000
Quest Software US Holdings Inc., Initial Loan, 2nd Lien
12.695%, CME Term SOFR + 7.500%, 02/01/2030 (G)		2,294		1,644
Red Planet Borrower, LLC, Initial Term Loan, 1st Lien
9.003%, CME Term SOFR + 3.750%, 10/02/2028 (G)(I)		4,154		3,453
Sabre GLBL Inc., 2021 Other Term B-1 Loan, 1st Lien
8.768%, CME Term SOFR + 3.500%, 12/17/2027 (G)(I)		502		364


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Sabre GLBL Inc., 2021 Other Term B-2 Loan, 1st Lien
8.768%, CME Term SOFR + 3.500%, 12/17/2027 (G)(I)	$	795	$	575
Sabre GLBL Inc., 2022 Other Term B Loan, 1st Lien
9.503%, CME Term SOFR + 4.250%, 06/30/2028 (G)(I)		1,753		1,279
Serta Simmons Bedding, LLC, Initial Exchange Term Loan (Super-Priority)
12.269%, LIBOR + 7.500%, 08/10/2023 (B)(G)		132		72
Serta Simmons Bedding, LLC, Initial Exchange Term Loan (Super-Priority), 1st Lien
12.269%, LIBOR + 7.500%, 08/10/2023 (B)(G)		544		298
Shutterfly, LLC, 2021 Refinancing Term B Loan, 1st Lien
10.273%, LIBOR + 5.000%, 09/25/2026 (G)		323		185
SP PF Buyer LLC, Closing Date Term Loan, 1st Lien
9.525%, LIBOR + 4.500%, 12/22/2025 (G)		2,717		1,739
SPX Flow Inc., Term Loan, 1st Lien
9.753%, CME Term SOFR + 4.500%, 04/05/2029 (G)		307		290
Staples, Inc., 2019 Refinancing New Term B-1 Loan, 1st Lien
10.299%, LIBOR + 5.000%, 04/16/2026 (G)		4,666		3,966
Sunshine Luxembourg VII S.a r.l., Facility B3, 1st Lien
8.909%, LIBOR + 3.750%, 10/01/2026 (G)		1,505		1,466
Syniverse Holdings, LLC, Initial Term Loan, 1st Lien
11.898%, CME Term SOFR + 7.000%, 05/13/2027 (G)		2,076		1,844
Team Health Holdings Inc., Extended Term Loan, 1st Lien
10.403%, CME Term SOFR + 5.250%, 03/02/2027 (G)(I)		7,958		4,803
Team Health Holdings Inc., Non-Extended Term Loan, 1st Lien
7.904%, LIBOR + 2.750%, 02/06/2024 (G)		402		324
TK Elevator Midco GmbH, Facility B1 (USD), 1st Lien
8.602%, LIBOR + 3.500%, 07/30/2027 (G)		421		405


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Tortoise Borrower LLC, Initial Term Loan, 1st Lien
8.525%, LIBOR + 3.500%, 01/31/2025 (G)	$	1,815	$	901
Travelport Finance (Luxembourg) S.a r.l., Exchange Term Loan, 1st Lien
13.365%, CME Term SOFR + 8.500%, 05/29/2026 (G)		1,498		921
Travelport Finance (Luxembourg) S.a r.l., Initial Term Loan (Priority), 1st Lien
6.654%, LIBOR + 1.500%, 02/28/2025 (G)(I)		7		7
Traverse Midstream Partners LLC, Advance, 1st Lien
8.726%, CME Term SOFR + 3.750%, 02/16/2028 (G)		2,295		2,257
Triton Water Holdings Inc., Initial Term Loan, 1st Lien
8.659%, LIBOR + 3.500%, 03/31/2028 (G)(I)		376		356
Tutor Perini Corp., Term Loan, 1st Lien
9.775%, LIBOR + 3.500%, 08/18/2027 (G)		3,247		2,841
U.S. Renal Care Inc., Initial Term Loan, 1st Lien
10.025%, LIBOR + 5.000%, 06/26/2026 (G)		719		376
Univision Communications Inc., 2021 Replacement Converted First-Lien Term Loan, 1st Lien
8.404%, LIBOR + 3.250%, 03/15/2026 (G)(I)		3,118		3,005
Venator, 1st Lien
15.068%, 09/14/2023		97		97
VeriFone Systems Inc., Initial Term Loan, 1st Lien
9.476%, LIBOR + 4.000%, 08/20/2025 (G)		2,659		2,316
Vida Capital Inc., Initial Term Loan
11.025%, LIBOR + 6.000%, 10/01/2026 (G)(I)		3,162		2,293
WaterBridge Midstream Operating LLC, Initial Term Loan, 1st Lien
11.005%, LIBOR + 5.750%, 06/22/2026 (G)		929		916
Wellful Inc., Initial Term Loan, 1st Lien
11.518%, CME Term SOFR + 6.250%, 04/21/2027 (G)		3,320		2,723
White Cap Supply Holdings, LLC, Initial Closing Date Term Loan, 1st Lien
8.732%, CME Term SOFR + 3.750%, 10/19/2027 (G)		778		764


Description	Face Amount (Thousands)		Market Value ($ Thousands)
LOAN PARTICIPATIONS (continued)
Wilsonart LLC, Tranche E Term Loan, 1st Lien
8.710%, LIBOR + 3.500%, 12/31/2026 (G)	$	1,265	$	1,221
Xplornet Communications Inc., Refinancing Term Loan, 1st Lien
9.025%, LIBOR + 4.000%, 10/02/2028 (G)(I)		3,328		2,631
Zayo Group Holdings Inc., Initial Dollar Term Loan, 1st Lien
8.154%, LIBOR + 3.000%, 03/09/2027 (G)		2,296		1,760


Total Loan Participations
(Cost $207,579) ($ Thousands)				186,125



ASSET-BACKED SECURITIES — 8.6%
Other Asset-Backed Securities — 8.6%

Airplanes Pass-Through Trust, Ser 2001-1A, Cl A9
5.657%, ICE LIBOR USD 1 Month + 0.550%, 03/15/2019 (A)(B)(C)(G)(J)		835		26
Ares XXXIV CLO, Ser 2020-2A, Cl FR
13.860%, ICE LIBOR USD 3 Month + 8.600%, 04/17/2033 (A)(C)(G)		2,304		1,892
B&M CLO, Ser 2014-1A, Cl E
11.010%, ICE LIBOR USD 3 Month + 5.750%, 04/16/2026 (A)(C)(G)		273		44
Battalion CLO VII, Ser 2014-7A, Cl SUB
0.000%, 07/17/2028 (A)(C)(D)(G)		4,614		–
Battalion CLO VIII, Ser 2015-8A, Cl SUB
0.000%, 07/18/2030 (A)(C)(D)(G)		4,378		1,380
Battalion CLO X, Ser 2016-10A, Cl SUB
0.000%, 01/25/2035 (A)(C)(D)(G)		6,380		4,338
Battalion CLO XI, Ser 2017-11A, Cl SUB
0.000%, 04/24/2034 (A)(C)(D)(G)		10,431		5,633
Battalion CLO XII, Ser 2018-12A, Cl SUB
0.000%, 05/17/2031 (A)(C)(D)(G)		8,633		3,022
Battalion CLO XIV, Ser 2019-14A
0.000%, 04/20/2032 (C)(D)		6,147		4,118
Battalion CLO XVI, Ser 2019-16A, Cl SUB
0.000%, 12/19/2032 (A)(C)(D)(G)		3,572		1,857
Battalion CLO XX, Ser 2021-20A, Cl SUB
0.000%, 07/15/2034 (C)(D)		8,543		5,211
Benefit Street Partners CLO III, Ser 2013-IIIA, Cl SUB
0.000%, 07/20/2029 (A)(C)(D)(G)		2,640		312
Benefit Street Partners CLO IV
0.000%, 07/20/2026 (A)(C)(K)		7		2,197


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Benefit Street Partners CLO IX
0.000%, 07/20/2025 (A)(C)(K)	$	3,363	$	1,127
Benefit Street Partners CLO V
0.000%, 10/20/2026 (A)(C)(K)		6,413		1
Benefit Street Partners CLO V, Ser 2018-5BA
0.000%, 04/20/2031 (C)(D)		10,301		3,399
Benefit Street Partners CLO VI, Ser 2015-VIA, Cl SUB
0.000%, 10/18/2029 (A)(C)(D)(G)		9,535		3,584
Benefit Street Partners CLO VII, Ser 2015-VIII, Cl SUB
0.000%, 07/18/2027 (C)(D)(G)		9,035		33
Benefit Street Partners CLO VIII
0.000%, 01/20/2031 (A)(C)(D)		9,000		2,593
Benefit Street Partners CLO X, Ser 2016-10A, Cl SUB
0.000%, 04/20/2034 (A)(C)(D)(G)		10,939		4,851
Benefit Street Partners CLO XII, Ser 2017-12A, Cl SUB
0.000%, 10/15/2030 (A)(C)(D)(G)		10,091		2,321
Benefit Street Partners CLO XIV, Ser 2018-14A, Cl SUB
0.000%, 04/20/2031 (A)(C)(D)(G)		6,857		2,979
Benefit Street Partners CLO XVIII, Ser 2019-18A, Cl SUB
0.000%, 10/15/2034 (A)(C)(D)(G)		6,048		3,915
Benefit Street Partners CLO XX, Ser 2020-20A, Cl SUB
0.000%, 07/15/2034 (A)(C)(D)(G)		3,469		2,820
Benefit Street Partners CLO XXIII, Ser 2021-23A, Cl SUB
0.000%, 04/25/2034 (C)(D)		7,870		5,446
Cathedral Lake CLO, Ser 2015-3A, Cl SUB
0.000%, 01/15/2026 (A)(C)(D)(G)		3,653		877
Cathedral Lake V, Ser 2018-5A, Cl SUB
0.000%, 10/21/2030 (A)(C)(D)(G)		5,673		1,362
First Eagle Berkeley Fund CLO LLC, Ser 2016-1A, Cl SUB
0.000%, 10/25/2028 (A)(C)(D)(G)		21,812		4,762
Great Lakes CLO, Ser 2015-1A, Cl SUB
0.000%, 01/16/2030 (A)(C)(D)(G)		6,015		2,520
Great Lakes CLO, Ser 2017-1A, Cl ER
12.760%, ICE LIBOR USD 3 Month + 7.500%, 10/15/2029 (A)(C)(G)		3,376		3,113
Great Lakes CLO, Ser 2018-1A, Cl ER
12.152%, ICE LIBOR USD 3 Month + 7.360%, 01/16/2030 (A)(C)(G)		4,328		3,944
Great Lakes CLO, Ser 2018-1A, Cl FR
14.792%, ICE LIBOR USD 3 Month + 10.000%, 01/16/2030 (A)(B)(C)(G)		1,595		1,343
IVY Hill Middle Market Credit Fund XII, Ser 2017-12A, Cl SUB
0.000%, 07/20/2033 (A)(C)(D)(G)		1,149		783


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
IVY Hill Middle Market Credit Fund XIV, Ser 2018-14A, Cl D
12.332%, ICE LIBOR USD 3 Month + 7.070%, 04/18/2030 (A)(C)(G)	$	2,886	$	2,536
IVY Hill Middle Market Credit Fund XIV, Ser 2018-14A, Cl SUB
0.000%, 04/18/2030 (A)(C)(D)(G)		2,164		1,250
LCM Ltd
0.000%, 01/20/2032 (C)(D)		1,998		1,260
Lockwood Grove CLO, Ser 2014-1A, Cl SUB
0.000%, 01/25/2030 (A)(C)(D)(G)		4,865		1,703
Lockwood Grove CLO, Ser 2018-1A, Cl ERR
11.105%, ICE LIBOR USD 3 Month + 5.850%, 01/25/2030 (A)(C)(G)		3,201		2,642
Neuberger Berman CLO XXII, Ser 2016-22A, Cl SUB
0.000%, 10/17/2030 (A)(C)(D)(G)		5,235		1,597
Neuberger Berman Loan Advisers CLO 36, Ser 2020-36A, Cl INC
0.000%, 04/20/2033 (A)(C)(D)(G)		1,780		1,139
Neuberger Berman Loan Advisers CLO 36, Ser 2020-36A, Cl SPIN
0.114%, 04/20/2033 (A)(C)(G)		23		15
Neuberger Berman Loan Advisers CLO 38
0.000%, 10/20/2032 (C)(D)		5,458		3,452
Neuberger Berman Loan Advisers CLO 39
0.000%, 10/20/2032 (C)(D)		5,795		3,251
Neuberger Berman Loan Advisers CLO 41
0.000%, 10/20/2032 (C)(D)		3,394		2,314
NewStar Fairfield Fund CLO, Ser 2015-2A, Cl SUB
0.000%, 04/20/2030 (A)(C)(D)(G)		9,028		2,848
NewStar Fairfield Fund CLO, Ser 2018-2A, Cl DN
12.630%, ICE LIBOR USD 3 Month + 7.380%, 04/20/2030 (A)(C)(G)		4,200		3,471
OCP CLO, Ser 2017-14A, Cl SUB
0.000%, 11/20/2030 (A)(C)(D)(G)		3,012		1,186
OCP CLO, Ser 2020-19A, Cl SUB
0.000%, 10/20/2034 (A)(C)(D)(G)		1,876		1,586
OCP CLO, Ser 2021-21A, Cl SUB
0.000%, 07/20/2034 (C)(D)		7,945		5,544
Shackleton CLO, Ser 2014-6RA
0.000%, 07/17/2028 (C)(D)		6,412		64
Shackleton CLO, Ser 2019-14A, Cl SUB
0.000%, 07/20/2034 (A)(C)(D)(G)		3,251		1,766
TCP Whitney CLO, Ser 2017-1I, Cl SUB
0.000%, 08/20/2029 (C)(D)(G)		13,119		8,324
TCW CLO, Ser 2017-1A, Cl SUB
0.000%, 10/29/2034 (A)(C)(D)(G)		7,377		3,910
TCW CLO, Ser 2018-1A, Cl SUB
0.000%, 04/25/2031 (A)(C)(D)(G)		5,509		2,605


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
TCW CLO, Ser 2019-2A, Cl SUB
0.000%, 10/20/2032 (A)(C)(D)(G)	$	5,959	$	3,337
TCW CLO, Warehouse Note, Ser 2020-1
0.000%, (C)(D)		8,523		4,517
Venture 35 CLO, Ser 2018-35A, Cl SUB
0.000%, 10/22/2031 (A)(C)(D)(G)		15,819		4,904
Venture XXV CLO, Ser 2016-25A, Cl SUB
0.000%, 04/20/2029 (A)(C)(D)(G)		2,950		590
Venture XXVI CLO, Ser 2017-26A, Cl SUB
0.000%, 01/20/2029 (A)(C)(D)(G)		2,865		602
Venture XXVIII CLO, Ser 2017-28A, Cl SUB
0.000%, 07/20/2030 (A)(C)(D)(G)		5,750		1,207
VOYA CLO, Ser 2020-2A
0.000%, 07/20/2031 (C)(D)		7,797		6,421
Wind River
0.000%, (C)(D)		11,611		7,489


Total Asset-Backed Securities
(Cost $85,141) ($ Thousands)				163,333

	Shares
COMMON STOCK — 1.3%
21st Century Oncology *(C)		22,017		314
Aquity Equity *(C)		89,545		974
Arctic Canadian Diamond Co. *(C)		1,633		653
Avaya Inc. (C)		205,996		3,219
Carestream Health Holdings Inc *(C)		123,791		2,210
CHC Group LLC *		1,444		—
Chesapeake Energy Corp		5,208		392
Chord Energy Corp		3,346		479
Clear Channel Outdoor Holdings Inc, Cl A *		303,828		374
EP Energy Corp *		25,685		170
Frontier Communications Parent Inc *		14,928		222
Guitar Center *(C)(E)		24,502		4,601
Gulfport Energy Corp *		7,270		705
Gymboree Corp *(C)(E)		18,542		—
Gymboree Holding Corp *(C)(E)		52,848		—
iHeartMedia Inc, Cl A *		14,876		35
Intelsat Emergene SA *(C)		65,585		1,705
Intelsat Jackson *(C)		13,734		—
Lumileds Common Bright Bidco *(C)		8,896		17
Mallinckrodt PLC *		12,665		35
Medical Card Systems *(C)		395,653		175
Monitronics International Inc *(C)		381,412		152
MYT Holding LLC *(C)		461,765		219
Neiman Marcus Group *(C)(E)		1,051		184
Neiman Marcus Group *(C)		9,899		1,732
Nine West *(C)		163,718		109
Parker Drilling Co *(C)(E)		143,734		1,617
Penney Borrower LLC *(C)		31,845		183
Propco Certificates *(C)		210,522		2,337
SandRidge Energy Inc *		11,510		155


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
VICI Properties Inc, Cl A ^‡		48,089	$	1,487
WeWork Inc, Cl A *		767,070		132
Windstream Services *		46,229		439

Total Common Stock
(Cost $32,210) ($ Thousands)				25,026



PREFERRED STOCK — 0.8%
BoardRiders, 0.000% *(C)(D)(H)		336,591		560
Claire's Stores Inc, 0.000% *(C)(D)(H)		1,567		1,870
Crestwood Equity Partners, 9.250% (H)		224,639		2,051
FHLMC, 0.000% *(D)(G)(H)		29,819		64
FNMA, 0.000% *(D)(G)(H)		43,993		99
Foresight, 0.000% *(C)(D)(H)		60,593		788
Guitar Center Inc, 0.000% *(C)(D)(E)(H)		782		73
Ladenburg Thalmann Financial Services, 6.500% *(H)		102,399		1,690
MPLX, 9.538% *(C)(H)		41,696		1,406
MYT Holding LLC, 10.000% (H)		516,164		405
Qurate Retail Inc, 8.000% (H)		10,574		344
Syniverse, 0.000% *(C)(D)(H)		4,851,225		4,662

Total Preferred Stock
(Cost $14,075) ($ Thousands)				14,012


	Face Amount (Thousands)
CONVERTIBLE BONDS — 0.5%
DISH Network
2.375%, 03/15/2024	$	2,152		1,856
3.375%, 08/15/2026		804		361
DraftKings Holdings
9.529%, 03/15/2028(K)		1,308		966
Gulfport Energy Corp
10.000% cash/0% PIK(C)(H)		–		298
Liberty Interactive LLC
4.000%, 11/15/2029		204		49
3.750%, 02/15/2030		3,714		854
North Sea Natural Resources
0.000%, (C)(D)(H)		889		889
Silver Airways LLC
15.000%, 12/31/2027(C)		3,695		3,695
Spotify USA
0.000%, 03/15/2026(K)		1,308		1,114

Total Convertible Bonds
(Cost $11,972) ($ Thousands)				10,082


Description		Number of Warrants	Market Value ($ Thousands)
WARRANTS — 0.1%
Guitar Center Tranche I, Expires 12/22/2070
Strike Price $100.00 *(C)(E)		5,960	$	542
Guitar Center Tranche II, Expires 12/22/2070
Strike Price $160.00 *(C)(E)		6,486		322
Guitar Center Tranche III, Expires 12/22/2070
Strike Price $100.00 *(C)(E)		526		26
Intelsat
Strike Price $– *^‡^‡(C)		6		–
Neiman Marcus Group, Expires 09/24/2027
Strike Price $213.16 *(C)		6,679		150
Silver Airways
Strike Price *^‡^‡(C)		1		–
Tacora Resources Inc
Strike Price *^‡^‡(C)		5,366,502		–
Windstream Services
Strike Price $0.00 *^‡^‡		50,968		484


Total Warrants
(Cost $1,025) ($ Thousands)				1,524


	Shares
CASH EQUIVALENT — 1.1%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		21,063,224		21,063

Total Cash Equivalent
(Cost $21,063) ($ Thousands)				21,063


Total Investments in Securities — 98.3%
(Cost $2,017,183) ($ Thousands)			$	1,860,308

	Percentages are based on Net Assets of $1,892,537 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
^‡	Real Estate Investment Trust.
^‡^‡	Expiration date not available.
(A)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $1,262,268 ($ Thousands), representing 66.7% of the Net Assets of the Fund.
(B)	Security is in default on interest payment.
(C)	Level 3 security in accordance with fair value hierarchy.
(D)	No interest rate available.
(E)	Security considered restricted, excluding 144A. The total market value of such securities as of May 31, 2023 was $11,020 ($ Thousands) and represented 0.6% of the Net Assets of the Fund. See table below for acquisition dates and acquisition cost.
(F)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(G)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(H)	Perpetual security with no stated maturity date.
(I)	Unsettled bank loan. Interest rate may not be available.
(J)	Security, or a portion thereof, is owned through a holding entity, 717 AEP Leasing, LLC.
(K)	Zero coupon security.

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):
Investments in Securities	Level 1 ($)		Level 2 ($)		Level 3 ($)		Total ($)
Corporate Obligations		–		1,435,854		3,289		1,439,143
Loan Participations		–		167,714		18,411		186,125
Asset-Backed Securities		–		–		163,333		163,333
Common Stock		4,186		439		20,401		25,026
Preferred Stock		2,493		2,159		9,360		14,012
Convertible Bonds		–		5,200		4,882		10,082
Warrants		–		484		1,040		1,524
Cash Equivalent		21,063		–		–		21,063
Total Investments in Securities		27,742		1,611,850		220,716		1,860,308

The following table depicts purchases and transfers in and/or out of Level 3 investments during the year for investments held as of May 31, 2023 ($ Thousands).

(1) Of the $220,716 ($ Thousands) in Level 3 securities as of May 31, 2023, $34,373,($ thousand) or 1.8% of the Net Assets of the Fund are not valued via third party pricing vendors and broker quotes. If significant, the disclosure of the unobservable inputs and the interrelationships and sensitivity between these inputs are required for those Level 3 securities that are not valued by third party pricing vendors or broker quotes.

For the year ended May 31, 2023, transfers in or out of Level 3 were due to the availability or lack of availability of observable inputs to determine fair value.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

A list of the restricted securities, excluding 144a, held by the Fund at May 31, 2023, is as follows:

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 64.2%
Communication Services — 8.2%
Alphabet
2.250%, 08/15/2060	$	265	$	158
America Movil
6.375%, 03/01/2035		165		179
6.125%, 03/30/2040		320		341
AT&T
4.500%, 05/15/2035		1,920		1,769
3.800%, 12/01/2057		4,410		3,138
3.650%, 09/15/2059		1,916		1,312
3.550%, 09/15/2055		1,190		819
3.500%, 09/15/2053		1,986		1,379
Bell Canada
4.464%, 04/01/2048		305		261
Charter Communications Operating LLC / Charter Communications Operating Capital
6.484%, 10/23/2045		1,488		1,347
6.384%, 10/23/2035		1,550		1,500
5.750%, 04/01/2048		741		613
5.375%, 05/01/2047		1,864		1,487
3.900%, 06/01/2052		145		91
3.850%, 04/01/2061		630		371
3.500%, 06/01/2041		150		99
Comcast
5.500%, 05/15/2064		65		65
4.250%, 01/15/2033		175		167
4.049%, 11/01/2052		425		348
3.969%, 11/01/2047		1,998		1,636
3.900%, 03/01/2038		790		689
2.987%, 11/01/2063		1,083		671
2.937%, 11/01/2056		3,578		2,292
2.887%, 11/01/2051		1,101		725
Discovery Communications LLC
5.200%, 09/20/2047		549		434


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.650%, 05/15/2050	$	195	$	143
4.000%, 09/15/2055		705		448
Fox
5.576%, 01/25/2049		270		244
Meta Platforms
5.750%, 05/15/2063		85		85
5.600%, 05/15/2053		1,190		1,189
4.450%, 08/15/2052		655		554
Paramount Global
5.850%, 09/01/2043		1,100		914
4.950%, 05/19/2050		378		281
4.850%, 12/15/2034		765		646
Rogers Communications
5.000%, 03/15/2044		442		389
4.500%, 03/15/2043		257		211
SES GLOBAL Americas Holdings GP
5.300%, 03/25/2044 (A)		950		711
Tencent Holdings MTN
3.840%, 04/22/2051 (A)		295		218
Time Warner Cable LLC
7.300%, 07/01/2038		275		281
6.750%, 06/15/2039		275		260
6.550%, 05/01/2037		680		648
5.875%, 11/15/2040		300		260
5.500%, 09/01/2041		760		628
4.500%, 09/15/2042		380		282
T-Mobile USA
5.750%, 01/15/2054		542		550
5.650%, 01/15/2053		706		705
4.375%, 04/15/2040		100		88
3.600%, 11/15/2060		320		221
3.400%, 10/15/2052		705		494
3.000%, 02/15/2041		1,480		1,069
TWDC Enterprises 18 MTN
3.700%, 12/01/2042		650		531
Verizon Communications
4.500%, 08/10/2033		2,705		2,556
4.400%, 11/01/2034		700		649
3.700%, 03/22/2061		653		465
3.550%, 03/22/2051		813		592
3.400%, 03/22/2041		3,515		2,683
2.987%, 10/30/2056		1,540		951
2.650%, 11/20/2040		165		113
Vodafone Group PLC
5.625%, 02/10/2053		360		344
4.875%, 06/19/2049		341		294
4.375%, 02/19/2043		510		420
Walt Disney
6.550%, 03/15/2033		710		797
4.625%, 03/23/2040		160		152
3.600%, 01/13/2051		1,685		1,301
3.500%, 05/13/2040		365		300


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.750%, 09/01/2049	$	125	$	83
Warnermedia Holdings
5.391%, 03/15/2062		161		125
5.141%, 03/15/2052		1,833		1,431
5.050%, 03/15/2042		1,380		1,116

				48,313

Consumer Discretionary — 2.5%
Alimentation Couche-Tard
4.500%, 07/26/2047 (A)		475		378
Amazon.com
4.950%, 12/05/2044		1,214		1,226
4.050%, 08/22/2047		491		436
3.950%, 04/13/2052		402		344
3.875%, 08/22/2037		125		115
3.100%, 05/12/2051		1,485		1,086
2.875%, 05/12/2041		632		482
2.700%, 06/03/2060		535		339
2.500%, 06/03/2050		185		120
Aptiv PLC
5.400%, 03/15/2049		544		473
3.100%, 12/01/2051		462		279
General Motors
6.600%, 04/01/2036		125		127
6.250%, 10/02/2043		100		95
5.950%, 04/01/2049		335		304
5.600%, 10/15/2032		210		202
5.150%, 04/01/2038		130		116
5.000%, 04/01/2035		65		58
General Motors Financial
6.400%, 01/09/2033		220		223
Home Depot
4.950%, 09/15/2052		345		335
4.250%, 04/01/2046		890		780
3.900%, 06/15/2047		402		336
3.625%, 04/15/2052		584		455
3.500%, 09/15/2056		160		121
3.350%, 04/15/2050		545		407
3.125%, 12/15/2049		195		139
Lowe's
5.800%, 09/15/2062		455		440
5.750%, 07/01/2053		124		123
5.625%, 04/15/2053		1,040		1,015
4.250%, 04/01/2052		525		420
4.050%, 05/03/2047		190		150
3.700%, 04/15/2046		505		380
3.000%, 10/15/2050		660		426
Massachusetts Institute of Technology
5.600%, 07/01/2111		300		330
McDonald's MTN
4.600%, 05/26/2045		430		386
4.450%, 03/01/2047		1,015		896


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.625%, 09/01/2049	$	265	$	204
Newell Brands
6.000%, 04/01/2046		200		146
President & Fellows of Harvard College
3.745%, 11/15/2052		205		175
Starbucks
4.450%, 08/15/2049		400		349
3.350%, 03/12/2050		615		445
University of Southern California
3.028%, 10/01/2039		225		184

				15,045

Consumer Staples — 4.1%
Alcon Finance
5.750%, 12/06/2052 (A)		290		299
Altria Group
4.000%, 02/04/2061		550		375
3.875%, 09/16/2046		830		575
3.700%, 02/04/2051		165		107
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide
4.900%, 02/01/2046		2,779		2,639
4.700%, 02/01/2036		4,035		3,953
Anheuser-Busch InBev Worldwide
5.550%, 01/23/2049		446		466
4.600%, 04/15/2048		197		181
4.439%, 10/06/2048		712		640
4.375%, 04/15/2038		310		291
4.350%, 06/01/2040		551		505
Bacardi
5.300%, 05/15/2048 (A)		185		168
BAT Capital
7.750%, 10/19/2032		120		131
5.650%, 03/16/2052		210		179
5.282%, 04/02/2050		90		73
4.758%, 09/06/2049		360		267
4.540%, 08/15/2047		1,570		1,125
4.390%, 08/15/2037		1,240		981
3.734%, 09/25/2040		610		427
Baylor Scott & White Holdings
2.839%, 11/15/2050		30		20
City of Hope
4.378%, 08/15/2048		650		535
Constellation Brands
4.100%, 02/15/2048		465		374
Dollar General
5.500%, 11/01/2052		135		132
Dollar Tree
3.375%, 12/01/2051		165		111
JBS USA LUX / JBS USA Food / JBS USA Finance
6.500%, 12/01/2052 (A)		1,115		1,009


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.375%, 02/02/2052 (A)	$	780	$	522
3.000%, 05/15/2032 (A)		522		399
Kenvue
5.200%, 03/22/2063 (A)		105		105
5.100%, 03/22/2043 (A)		225		227
5.050%, 03/22/2053 (A)		1,030		1,037
Keurig Dr Pepper
4.500%, 04/15/2052		275		238
Kraft Heinz Foods
5.000%, 06/04/2042		540		503
4.875%, 10/01/2049		214		193
4.375%, 06/01/2046		90		76
Kroger
4.450%, 02/01/2047		925		795
MedStar Health
3.626%, 08/15/2049		530		390
Nestle Holdings
3.900%, 09/24/2038 (A)		470		428
New York and Presbyterian Hospital
2.256%, 08/01/2040		395		267
PepsiCo
2.750%, 10/21/2051		100		71
Philip Morris International
5.750%, 11/17/2032		515		528
4.500%, 03/20/2042		550		467
3.875%, 08/21/2042		595		460
Reynolds American
5.850%, 08/15/2045		270		236
Stanford Health Care
3.027%, 08/15/2051		380		262
Target
2.950%, 01/15/2052		100		69
University of Southern California
5.250%, 10/01/2111		755		757
Walmart
4.500%, 04/15/2053		525		503
2.650%, 09/22/2051		200		140
2.500%, 09/22/2041		160		117

				24,353

Energy — 6.2%
Aker BP
3.100%, 07/15/2031 (A)		240		200
BP Capital Markets America
3.379%, 02/08/2061		630		439
3.060%, 06/17/2041		620		460
3.001%, 03/17/2052		360		242
3.000%, 02/24/2050		25		17
2.939%, 06/04/2051		208		139
2.772%, 11/10/2050		800		521
Canadian Natural Resources MTN
4.950%, 06/01/2047		350		307


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Chevron
3.078%, 05/11/2050	$	289	$	215
Columbia Pipeline Group
5.800%, 06/01/2045		235		232
ConocoPhillips
4.300%, 11/15/2044		625		547
4.025%, 03/15/2062		633		504
Diamondback Energy
6.250%, 03/15/2033		165		171
4.400%, 03/24/2051		80		62
4.250%, 03/15/2052		213		161
El Paso Natural Gas
8.375%, 06/15/2032		100		115
Energy Transfer
6.500%, 02/01/2042		45		45
6.250%, 04/15/2049		220		209
6.125%, 12/15/2045		838		781
5.950%, 10/01/2043		970		891
5.800%, 06/15/2038		40		38
5.400%, 10/01/2047		1,445		1,242
5.350%, 05/15/2045		245		210
5.300%, 04/15/2047		425		360
5.150%, 02/01/2043		75		63
5.150%, 03/15/2045		200		168
5.000%, 05/15/2050		150		123
4.900%, 03/15/2035		1,000		915
Enterprise Products Operating LLC
6.650%, 10/15/2034		780		850
6.125%, 10/15/2039		260		273
5.700%, 02/15/2042		540		536
5.100%, 02/15/2045		400		371
4.950%, 10/15/2054		495		437
4.900%, 05/15/2046		760		683
4.850%, 03/15/2044		290		260
4.200%, 01/31/2050		105		85
3.700%, 01/31/2051		95		71
3.200%, 02/15/2052		300		204
EOG Resources
4.950%, 04/15/2050		234		227
EQM Midstream Partners
6.500%, 07/15/2048		500		408
Equinor
3.625%, 04/06/2040		1,000		837
Exxon Mobil
4.227%, 03/19/2040		150		137
3.452%, 04/15/2051		2,268		1,740
3.095%, 08/16/2049		135		98
Hess
6.000%, 01/15/2040		55		54
5.800%, 04/01/2047		145		139
5.600%, 02/15/2041		430		405


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Kinder Morgan
5.550%, 06/01/2045	$	30	$	27
5.450%, 08/01/2052		100		89
5.300%, 12/01/2034		1,836		1,761
5.050%, 02/15/2046		230		194
3.600%, 02/15/2051		55		37
3.250%, 08/01/2050		220		138
Kinder Morgan Energy Partners
6.375%, 03/01/2041		636		635
5.000%, 08/15/2042		700		593
Marathon Petroleum
6.500%, 03/01/2041		193		197
4.750%, 09/15/2044		50		41
MPLX
5.500%, 02/15/2049		120		107
4.950%, 03/14/2052		90		74
4.500%, 04/15/2038		585		503
Northern Natural Gas
4.300%, 01/15/2049 (A)		260		210
Occidental Petroleum
6.574%, 10/10/2036 (B)		2,731		1,439
4.300%, 08/15/2039		436		343
Petroleos Mexicanos
6.350%, 02/12/2048		745		434
Phillips 66
4.900%, 10/01/2046		509		445
4.875%, 11/15/2044		605		547
4.650%, 11/15/2034		659		616
Plains All American Pipeline/PAA Finance
4.900%, 02/15/2045		475		375
Rockies Express Pipeline LLC
6.875%, 04/15/2040 (A)		935		804
Sabal Trail Transmission LLC
4.832%, 05/01/2048 (A)		380		329
4.682%, 05/01/2038 (A)		260		240
Shell International Finance BV
6.375%, 12/15/2038		877		979
5.500%, 03/25/2040		435		449
4.375%, 05/11/2045		1,280		1,134
3.750%, 09/12/2046		254		204
Suncor Energy
6.800%, 05/15/2038		500		531
3.750%, 03/04/2051		105		76
Targa Resources
6.500%, 02/15/2053		428		419
Texas Eastern Transmission
7.000%, 07/15/2032		420		468
4.150%, 01/15/2048 (A)		415		322
TotalEnergies Capital International
3.127%, 05/29/2050		1,155		822
TransCanada PipeLines
7.250%, 08/15/2038		880		983


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.875%, 05/15/2048	$	195	$	171
4.750%, 05/15/2038		280		251
Transcontinental Gas Pipe Line LLC
5.400%, 08/15/2041		665		636
4.600%, 03/15/2048		536		450
4.450%, 08/01/2042		410		349
Williams
7.500%, 01/15/2031		245		270
5.750%, 06/24/2044		9		9
5.300%, 08/15/2052		505		456
3.500%, 10/15/2051		410		279

				36,628

Financials — 11.8%
AIG SunAmerica Global Financing X
6.900%, 03/15/2032 (A)		1,167		1,258
Allstate
4.500%, 06/15/2043		50		43
American International Group
4.800%, 07/10/2045		50		44
4.375%, 06/30/2050		185		153
Aon
3.900%, 02/28/2052		1,164		898
Arthur J Gallagher
5.750%, 03/02/2053		735		732
3.500%, 05/20/2051		435		304
Athene Holding
3.450%, 05/15/2052		500		301
Bank of America
6.110%, 01/29/2037		560		586
6.000%, 10/15/2036		1,660		1,774
3.483%, U.S. SOFR + 1.650%, 03/13/2052 (C)		308		224
3.311%, U.S. SOFR + 1.580%, 04/22/2042 (C)		685		513
2.687%, U.S. SOFR + 1.320%, 04/22/2032 (C)		1,235		1,021
2.651%, U.S. SOFR + 1.220%, 03/11/2032 (C)		280		231
2.572%, U.S. SOFR + 1.210%, 10/20/2032 (C)		315		256
2.299%, U.S. SOFR + 1.220%, 07/21/2032 (C)		1,089		868
Bank of America MTN
5.875%, 02/07/2042		1,020		1,073
4.330%, TSFR3M + 1.782%, 03/15/2050 (C)		225		189
4.083%, TSFR3M + 3.412%, 03/20/2051 (C)		555		447
4.078%, TSFR3M + 1.582%, 04/23/2040 (C)		1,000		844
2.972%, U.S. SOFR + 1.330%, 02/04/2033 (C)		450		375


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.676%, U.S. SOFR + 1.930%, 06/19/2041 (C)	$	756	$	519
2.496%, TSFR3M + 1.252%, 02/13/2031 (C)		635		532
Bank of New York Mellon
4.706%, U.S. SOFR + 1.512%, 02/01/2034 (C)		270		263
Bank of New York Mellon MTN
5.834%, SOFRINDX + 2.074%, 10/25/2033 (C)		185		194
Berkshire Hathaway
4.500%, 02/11/2043		218		207
Berkshire Hathaway Finance
4.400%, 05/15/2042		600		566
3.850%, 03/15/2052		637		520
Blackstone Holdings Finance LLC
6.250%, 08/15/2042 (A)		869		843
Brown & Brown
4.950%, 03/17/2052		405		342
Carlyle Holdings II Finance LLC
5.625%, 03/30/2043 (A)		723		638
Charles Schwab
5.853%, U.S. SOFR + 2.500%, 05/19/2034 (C)		215		218
Chubb INA Holdings
6.700%, 05/15/2036		627		711
Citigroup
8.125%, 07/15/2039		204		259
6.625%, 06/15/2032		565		596
6.174%, U.S. SOFR + 2.661%, 05/25/2034 (C)		160		162
4.750%, 05/18/2046		996		840
4.650%, 07/23/2048		580		516
4.281%, TSFR3M + 2.101%, 04/24/2048 (C)		1,053		889
3.878%, TSFR3M + 1.430%, 01/24/2039 (C)		200		168
3.785%, U.S. SOFR + 1.939%, 03/17/2033 (C)		115		102
2.904%, U.S. SOFR + 1.379%, 11/03/2042 (C)		270		190
2.520%, U.S. SOFR + 1.177%, 11/03/2032 (C)		160		129
Commonwealth Bank of Australia MTN
3.743%, 09/12/2039 (A)		205		154
Cooperatieve Rabobank UA
5.250%, 08/04/2045		100		93
Corebridge Financial
4.400%, 04/05/2052 (A)		290		221
4.350%, 04/05/2042 (A)		100		80
3.900%, 04/05/2032 (A)		300		260


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Credit Suisse Group
9.016%, U.S. SOFR + 5.020%, 11/15/2033 (A)(C)	$	1,105	$	1,310
6.537%, U.S. SOFR + 3.920%, 08/12/2033 (A)(C)		490		500
3.091%, U.S. SOFR + 1.730%, 05/14/2032 (A)(C)		680		547
Farmers Exchange Capital
7.200%, 07/15/2048 (A)		225		233
Farmers Exchange Capital II
6.151%, ICE LIBOR USD 3 Month + 3.744%, 11/01/2053 (A)(C)		375		364
Farmers Exchange Capital III
5.454%, ICE LIBOR USD 3 Month + 3.454%, 10/15/2054 (A)(C)		200		182
Farmers Insurance Exchange
4.747%, ICE LIBOR USD 3 Month + 3.231%, 11/01/2057 (A)(C)		300		233
Fidelity National Information Services
5.625%, 07/15/2052		450		424
Fifth Third Bancorp
8.250%, 03/01/2038		286		322
Fiserv
4.400%, 07/01/2049		300		248
Global Atlantic Finance
3.125%, 06/15/2031 (A)		170		127
Global Payments
5.950%, 08/15/2052		620		578
Goldman Sachs Group
6.750%, 10/01/2037		1,330		1,420
6.250%, 02/01/2041		1,053		1,125
4.411%, TSFR3M + 1.692%, 04/23/2039 (C)		225		197
4.017%, TSFR3M + 1.635%, 10/31/2038 (C)		2,925		2,466
3.436%, U.S. SOFR + 1.632%, 02/24/2043 (C)		270		202
3.210%, U.S. SOFR + 1.513%, 04/22/2042 (C)		544		398
2.615%, U.S. SOFR + 1.281%, 04/22/2032 (C)		540		445
2.383%, U.S. SOFR + 1.248%, 07/21/2032 (C)		105		85
Goldman Sachs Group MTN
4.800%, 07/08/2044		50		45
Guardian Life Insurance of America
4.875%, 06/19/2064 (A)		755		663
Hartford Financial Services Group
6.625%, 03/30/2040		275		289
HSBC Bank USA
7.000%, 01/15/2039		285		312
HSBC Holdings PLC
6.800%, 06/01/2038		737		755


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
6.500%, 09/15/2037	$	850	$	886
6.332%, U.S. SOFR + 2.650%, 03/09/2044 (C)		120		124
2.804%, U.S. SOFR + 1.187%, 05/24/2032 (C)		910		738
Intercontinental Exchange
4.950%, 06/15/2052		378		358
Jefferies Group
6.250%, 01/15/2036		338		345
JPMorgan Chase
5.600%, 07/15/2041		1,426		1,471
4.260%, TSFR3M + 1.842%, 02/22/2048 (C)		580		498
4.032%, TSFR3M + 1.722%, 07/24/2048 (C)		515		421
3.964%, TSFR3M + 1.642%, 11/15/2048 (C)		1,465		1,185
3.897%, TSFR3M + 1.482%, 01/23/2049 (C)		991		792
3.882%, TSFR3M + 1.622%, 07/24/2038 (C)		435		373
3.328%, U.S. SOFR + 1.580%, 04/22/2052 (C)		436		312
3.109%, TSFR3M + 2.460%, 04/22/2041 (C)		415		310
3.109%, U.S. SOFR + 2.440%, 04/22/2051 (C)		465		321
2.545%, U.S. SOFR + 1.180%, 11/08/2032 (C)		190		156
KeyBank MTN
5.000%, 01/26/2033		250		220
KKR Group Finance II LLC
5.500%, 02/01/2043 (A)		588		534
Liberty Mutual Group
3.951%, 10/15/2050 (A)		220		159
3.950%, 05/15/2060 (A)		25		17
Lloyds Banking Group PLC
4.976%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.300%, 08/11/2033 (C)		275		260
4.344%, 01/09/2048		391		291
Macquarie Group MTN
2.871%, U.S. SOFR + 1.532%, 01/14/2033 (A)(C)		745		598
Marsh & McLennan
5.450%, 03/15/2053		190		190
4.750%, 03/15/2039		449		416
4.200%, 03/01/2048		505		422
Massachusetts Mutual Life Insurance
5.672%, 12/01/2052 (A)		236		239
3.729%, 10/15/2070 (A)		403		272
3.375%, 04/15/2050 (A)		277		196


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Mastercard
3.850%, 03/26/2050	$	170	$	145
3.650%, 06/01/2049		125		103
MetLife
5.875%, 02/06/2041		140		143
5.250%, 01/15/2054		261		248
5.000%, 07/15/2052		460		418
4.875%, 11/13/2043		375		339
4.721%, 12/15/2044		806		714
Moody's
4.875%, 12/17/2048		560		515
Morgan Stanley
5.948%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.430%, 01/19/2038 (C)		100		99
5.297%, U.S. SOFR + 2.620%, 04/20/2037 (C)		40		38
2.484%, U.S. SOFR + 1.360%, 09/16/2036 (C)		610		460
Morgan Stanley MTN
6.375%, 07/24/2042		405		447
3.971%, ICE LIBOR USD 3 Month + 1.455%, 07/22/2038 (C)		1,702		1,452
2.699%, U.S. SOFR + 1.143%, 01/22/2031 (C)		1,020		872
2.511%, U.S. SOFR + 1.200%, 10/20/2032 (C)		435		353
2.239%, U.S. SOFR + 1.178%, 07/21/2032 (C)		285		227
1.794%, U.S. SOFR + 1.034%, 02/13/2032 (C)		575		447
Nasdaq
3.950%, 03/07/2052		410		317
Nationwide Mutual Insurance
4.350%, 04/30/2050 (A)		320		240
New York Life Insurance
6.750%, 11/15/2039 (A)		675		769
5.875%, 05/15/2033 (A)		452		472
4.450%, 05/15/2069 (A)		750		627
3.750%, 05/15/2050 (A)		176		134
Northwestern Mutual Life Insurance
3.625%, 09/30/2059 (A)		602		430
PayPal Holdings
3.250%, 06/01/2050		125		88
PNC Financial Services Group
6.037%, SOFRINDX + 2.140%, 10/28/2033 (C)		340		351
5.068%, U.S. SOFR + 1.933%, 01/24/2034 (C)		85		82
Progressive
3.700%, 03/15/2052		155		120
Prudential Financial
3.905%, 12/07/2047		55		43


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Prudential Financial MTN
5.700%, 12/14/2036	$	522	$	548
Raymond James Financial
4.950%, 07/15/2046		305		271
3.750%, 04/01/2051		425		311
S&P Global
3.250%, 12/01/2049		250		184
Teachers Insurance & Annuity Association of America
4.270%, 05/15/2047 (A)		480		397
3.300%, 05/15/2050 (A)		450		311
Truist Financial MTN
5.122%, U.S. SOFR + 1.852%, 01/26/2034 (C)		365		349
UBS Group
4.988%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.400%, 08/05/2033 (A)(C)		395		372
US Bancorp
5.850%, U.S. SOFR + 2.090%, 10/21/2033 (C)		375		378
4.839%, U.S. SOFR + 1.600%, 02/01/2034 (C)		590		554
Visa
4.300%, 12/14/2045		430		399
4.150%, 12/14/2035		250		241
Wells Fargo
5.850%, 02/01/2037		990		1,012
5.389%, U.S. SOFR + 2.020%, 04/24/2034 (C)		40		40
3.068%, U.S. SOFR + 2.530%, 04/30/2041 (C)		610		443
Wells Fargo MTN
5.013%, TSFR3M + 4.502%, 04/04/2051 (C)		2,126		1,945
4.900%, 11/17/2045		265		231
4.650%, 11/04/2044		615		522
3.350%, U.S. SOFR + 1.500%, 03/02/2033 (C)		1,835		1,576
Westpac Banking
3.133%, 11/18/2041		220		149
2.668%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.750%, 11/15/2035 (C)		60		46
Willis North America
3.875%, 09/15/2049		460		329
XL Group
5.250%, 12/15/2043		587		582

				69,803

Health Care — 9.2%
Abbott Laboratories
4.900%, 11/30/2046		559		558


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
AbbVie
4.875%, 11/14/2048	$	535	$	496
4.850%, 06/15/2044		505		464
4.550%, 03/15/2035		985		939
4.500%, 05/14/2035		800		759
4.400%, 11/06/2042		2,039		1,790
4.250%, 11/21/2049		1,953		1,654
4.050%, 11/21/2039		397		341
Advocate Health & Hospitals
4.272%, 08/15/2048		391		342
Aetna
4.125%, 11/15/2042		525		426
Alcon Finance
3.800%, 09/23/2049 (A)		425		325
Amgen
5.750%, 03/02/2063		620		616
5.650%, 03/02/2053		1,444		1,444
5.600%, 03/02/2043		370		366
4.950%, 10/01/2041		525		483
4.875%, 03/01/2053		472		427
4.400%, 05/01/2045		1,849		1,566
4.400%, 02/22/2062		125		101
4.200%, 02/22/2052		5		4
AstraZeneca PLC
6.450%, 09/15/2037		986		1,137
Baxter International
3.132%, 12/01/2051		490		315
BayCare Health System
3.831%, 11/15/2050		180		147
Bayer US Finance II LLC
4.400%, 07/15/2044 (A)		1,080		864
3.950%, 04/15/2045 (A)		200		149
Baylor Scott & White Holdings
4.185%, 11/15/2045		390		340
Becton Dickinson
3.794%, 05/20/2050		335		262
Boston Scientific
4.550%, 03/01/2039		147		136
Bristol-Myers Squibb
4.550%, 02/20/2048		182		166
4.250%, 10/26/2049		1,063		927
3.700%, 03/15/2052		270		216
3.550%, 03/15/2042		270		221
Children's Hospital Medical Center
2.820%, 11/15/2050		450		292
Cigna Group
4.900%, 12/15/2048		385		350
4.800%, 07/15/2046		828		740
3.875%, 10/15/2047		1,045		810
Cleveland Clinic Foundation
4.858%, 01/01/2114		72		65


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
CommonSpirit Health
4.187%, 10/01/2049	$	1,081	$	868
CVS Health
6.000%, 06/01/2063		220		221
5.875%, 06/01/2053		335		336
5.625%, 02/21/2053		120		117
5.125%, 07/20/2045		445		405
5.050%, 03/25/2048		1,995		1,802
4.780%, 03/25/2038		1,745		1,614
4.125%, 04/01/2040		595		495
2.700%, 08/21/2040		275		190
Danaher
2.800%, 12/10/2051		100		67
2.600%, 10/01/2050		60		39
Elevance Health
6.100%, 10/15/2052		230		248
5.125%, 02/15/2053		430		412
4.650%, 01/15/2043		15		14
4.375%, 12/01/2047		1,543		1,330
3.700%, 09/15/2049		625		481
Eli Lilly
4.950%, 02/27/2063		385		382
4.875%, 02/27/2053		488		492
GE HealthCare Technologies
6.377%, 11/22/2052 (A)		475		518
Gilead Sciences
4.800%, 04/01/2044		220		207
4.750%, 03/01/2046		25		23
4.600%, 09/01/2035		695		671
4.500%, 02/01/2045		460		416
GlaxoSmithKline Capital
6.375%, 05/15/2038		250		287
HCA
5.500%, 06/15/2047		145		133
5.250%, 06/15/2049		615		543
4.625%, 03/15/2052 (A)		585		471
3.500%, 07/15/2051		103		69
Health Care Service, A Mutual Legal Reserve
3.200%, 06/01/2050 (A)		647		453
Humana
4.950%, 10/01/2044		460		415
3.950%, 08/15/2049		450		356
Johnson & Johnson
3.400%, 01/15/2038		285		250
Kaiser Foundation Hospitals
4.150%, 05/01/2047		330		287
3.266%, 11/01/2049		540		397
3.002%, 06/01/2051		465		323
2.810%, 06/01/2041		834		607
Mass General Brigham
3.192%, 07/01/2049		85		61


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Medtronic
4.375%, 03/15/2035	$	230	$	223
Memorial Health Services
3.447%, 11/01/2049		250		185
Merck
5.150%, 05/17/2063		220		222
5.000%, 05/17/2053		795		800
4.900%, 05/17/2044		515		512
4.150%, 05/18/2043		250		227
2.900%, 12/10/2061		365		239
2.450%, 06/24/2050		150		97
New York and Presbyterian Hospital
4.763%, 08/01/2116		179		151
Northwell Healthcare
4.260%, 11/01/2047		235		192
Pfizer
4.000%, 12/15/2036		615		574
Pfizer Investment Enterprises Pte
5.340%, 05/19/2063		810		811
5.300%, 05/19/2053		2,221		2,286
5.110%, 05/19/2043		1,040		1,034
Providence St. Joseph Health Obligated Group
3.744%, 10/01/2047		525		393
Regeneron Pharmaceuticals
2.800%, 09/15/2050		150		96
Revvity
3.625%, 03/15/2051		200		143
Roche Holdings
2.607%, 12/13/2051 (A)		482		321
Royalty Pharma
3.300%, 09/02/2040		150		105
Stanford Health Care
3.795%, 11/15/2048		431		349
STERIS Irish FinCo UnLtd
3.750%, 03/15/2051		425		309
Stryker
4.100%, 04/01/2043		500		424
Takeda Pharmaceutical
3.175%, 07/09/2050		707		489
Thermo Fisher Scientific
4.100%, 08/15/2047		140		124
2.800%, 10/15/2041		275		203
UnitedHealth Group
6.875%, 02/15/2038		445		529
6.625%, 11/15/2037		555		636
6.050%, 02/15/2063		265		293
5.950%, 02/15/2041		25		27
5.875%, 02/15/2053		835		913
5.800%, 03/15/2036		55		59
5.050%, 04/15/2053		45		44
4.950%, 05/15/2062		120		113


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.750%, 05/15/2052	$	764	$	717
4.625%, 07/15/2035		455		446
4.250%, 04/15/2047		725		632
4.200%, 01/15/2047		530		462
3.700%, 08/15/2049		365		290
3.250%, 05/15/2051		420		307
3.050%, 05/15/2041		330		253
2.900%, 05/15/2050		145		100
2.750%, 05/15/2040		95		70
Viatris
4.000%, 06/22/2050		680		437
3.850%, 06/22/2040		190		128
Wyeth LLC
6.000%, 02/15/2036		760		829
5.950%, 04/01/2037		436		480

				54,512

Industrials — 5.6%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.850%, 10/29/2041		390		293
3.400%, 10/29/2033		130		103
3.300%, 01/30/2032		1,200		975
Air Lease
3.250%, 10/01/2029		155		132
Air Lease MTN
3.000%, 02/01/2030		180		150
BAE Systems Holdings
4.750%, 10/07/2044 (A)		563		507
BAE Systems PLC
5.800%, 10/11/2041 (A)		150		152
3.000%, 09/15/2050 (A)		525		351
Boeing
5.930%, 05/01/2060		480		468
5.805%, 05/01/2050		3,167		3,101
5.705%, 05/01/2040		2,080		2,049
Burlington Northern Santa Fe LLC
6.200%, 08/15/2036		880		973
6.150%, 05/01/2037		395		437
5.750%, 05/01/2040		100		105
4.900%, 04/01/2044		130		124
4.450%, 01/15/2053		206		187
4.400%, 03/15/2042		1,610		1,447
3.300%, 09/15/2051		390		286
3.050%, 02/15/2051		100		70
2.875%, 06/15/2052		135		91
Canadian National Railway
6.200%, 06/01/2036		156		173
3.650%, 02/03/2048		425		343
Canadian Pacific Railway
6.125%, 09/15/2115		1,020		1,034
4.200%, 11/15/2069		453		352


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.100%, 12/02/2051	$	370	$	256
3.000%, 12/02/2041		85		70
Carrier Global
3.577%, 04/05/2050		815		586
3.377%, 04/05/2040		250		188
Crane NXT
4.200%, 03/15/2048		450		304
CSX
4.750%, 05/30/2042		825		758
4.750%, 11/15/2048		202		183
4.500%, 11/15/2052		45		40
Deere
3.750%, 04/15/2050		431		375
Emerson Electric
2.800%, 12/21/2051		643		423
FedEx
5.100%, 01/15/2044		125		114
4.550%, 04/01/2046		768		648
4.400%, 01/15/2047		155		129
4.050%, 02/15/2048		285		224
3.900%, 02/01/2035		410		359
General Dynamics
4.250%, 04/01/2040		235		215
General Electric MTN
5.801%, ICE LIBOR USD 3 Month + 0.480%, 08/15/2036 (C)		450		396
Lockheed Martin
5.900%, 11/15/2063		95		106
5.700%, 11/15/2054		500		545
5.200%, 02/15/2055		140		141
4.700%, 05/15/2046		741		712
3.600%, 03/01/2035		810		732
Norfolk Southern
5.100%, 08/01/2118		710		604
4.800%, 08/15/2043		493		425
4.050%, 08/15/2052		264		215
3.942%, 11/01/2047		201		161
3.700%, 03/15/2053		265		199
Northrop Grumman
5.150%, 05/01/2040		185		181
4.950%, 03/15/2053		95		90
4.750%, 06/01/2043		640		590
4.030%, 10/15/2047		270		226
3.850%, 04/15/2045		570		459
Parker-Hannifin MTN
4.450%, 11/21/2044		380		339
Raytheon Technologies
5.375%, 02/27/2053		445		450
4.500%, 06/01/2042		870		795
4.350%, 04/15/2047		740		645
3.030%, 03/15/2052		780		538
2.820%, 09/01/2051		235		155


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Snap-on
3.100%, 05/01/2050	$	391	$	286
Trane Technologies Global Holding
4.300%, 02/21/2048		140		116
TTX
4.600%, 02/01/2049 (A)		538		473
Union Pacific
3.839%, 03/20/2060		1,015		789
3.799%, 04/06/2071		652		495
3.500%, 02/14/2053		275		209
3.375%, 02/14/2042		80		64
3.250%, 02/05/2050		725		534
2.973%, 09/16/2062		308		196
Union Pacific MTN
3.550%, 08/15/2039		115		96
United Airlines Pass-Through Trust, Ser 2019-1, Cl AA
4.150%, 08/25/2031		199		183
United Parcel Service
5.050%, 03/03/2053		650		649
Verisk Analytics
3.625%, 05/15/2050		580		416
Waste Management
3.900%, 03/01/2035		340		304
2.950%, 06/01/2041		260		192
WW Grainger
4.600%, 06/15/2045		320		298
4.200%, 05/15/2047		322		276

				33,055

Information Technology — 3.9%
Activision Blizzard
4.500%, 06/15/2047		235		213
Analog Devices
2.950%, 10/01/2051		275		193
2.800%, 10/01/2041		295		218
Apple
4.650%, 02/23/2046		899		891
4.500%, 02/23/2036		380		389
4.375%, 05/13/2045		1,425		1,347
3.850%, 05/04/2043		135		120
3.750%, 09/12/2047		150		128
3.450%, 02/09/2045		585		492
2.950%, 09/11/2049		150		110
2.800%, 02/08/2061		460		304
2.650%, 02/08/2051		320		219
2.375%, 02/08/2041		310		228
Applied Materials
4.350%, 04/01/2047		150		139
Broadcom
3.750%, 02/15/2051 (A)		620		447
3.500%, 02/15/2041 (A)		460		341


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.137%, 11/15/2035 (A)	$	740	$	564
2.600%, 02/15/2033 (A)		450		350
Cisco Systems
5.900%, 02/15/2039		331		364
Corning
5.850%, 11/15/2068		159		151
5.450%, 11/15/2079		445		393
Intel
5.900%, 02/10/2063		315		314
5.700%, 02/10/2053		700		691
5.625%, 02/10/2043		70		70
5.050%, 08/05/2062		290		258
4.900%, 08/05/2052		580		522
4.750%, 03/25/2050		115		101
3.734%, 12/08/2047		970		739
3.250%, 11/15/2049		575		393
KLA
5.000%, 03/15/2049		317		301
4.950%, 07/15/2052		225		217
Lam Research
2.875%, 06/15/2050		112		77
Micron Technology
3.366%, 11/01/2041		165		113
Microsoft
3.450%, 08/08/2036		33		30
3.041%, 03/17/2062		113		82
2.921%, 03/17/2052		2,493		1,845
2.675%, 06/01/2060		380		254
2.525%, 06/01/2050		130		89
NVIDIA
3.500%, 04/01/2040		220		186
3.500%, 04/01/2050		457		367
NXP BV / NXP FUNDING LLC / NXP USA
3.250%, 05/11/2041		500		357
Oracle
6.900%, 11/09/2052		665		724
5.550%, 02/06/2053		220		205
4.375%, 05/15/2055		820		634
4.300%, 07/08/2034		430		387
4.125%, 05/15/2045		1,330		1,026
4.000%, 07/15/2046		1,085		813
4.000%, 11/15/2047		1,169		871
3.950%, 03/25/2051		638		468
3.800%, 11/15/2037		1,420		1,154
3.650%, 03/25/2041		890		672
3.600%, 04/01/2050		260		179
QUALCOMM
4.500%, 05/20/2052		265		236
Salesforce
3.050%, 07/15/2061		205		135
2.900%, 07/15/2051		520		357
2.700%, 07/15/2041		75		54


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Texas Instruments
5.050%, 05/18/2063	$	627	$	613
5.000%, 03/14/2053		285		285

				23,420

Materials — 0.9%
Anglo American Capital PLC
4.750%, 03/16/2052 (A)		381		310
BHP Billiton Finance USA
5.000%, 09/30/2043		360		354
Celanese US Holdings LLC
6.379%, 07/15/2032		315		318
Dow Chemical
6.900%, 05/15/2053		165		184
4.375%, 11/15/2042		195		164
3.600%, 11/15/2050		220		160
DuPont de Nemours
5.319%, 11/15/2038		955		940
FMC
4.500%, 10/01/2049		280		218
Freeport-McMoRan
5.450%, 03/15/2043		413		374
5.400%, 11/14/2034		99		95
Glencore Finance Canada
6.000%, 11/15/2041 (A)		476		472
International Flavors & Fragrances
5.000%, 09/26/2048		610		507
3.468%, 12/01/2050 (A)		1,080		710
3.268%, 11/15/2040 (A)		630		435
Nutrien
5.800%, 03/27/2053		250		246

				5,487

Real Estate — 1.7%
Agree
2.900%, 10/01/2030		195		163
2.600%, 06/15/2033		155		120
Alexandria Real Estate Equities
5.150%, 04/15/2053		315		278
4.850%, 04/15/2049		310		256
3.550%, 03/15/2052		740		498
American Homes 4 Rent
4.300%, 04/15/2052		430		325
3.375%, 07/15/2051		175		112
American Tower
3.100%, 06/15/2050		190		122
2.950%, 01/15/2051		261		161
Boston Properties
2.450%, 10/01/2033		130		91
Crown Castle
5.200%, 02/15/2049		90		82
3.250%, 01/15/2051		250		167


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.900%, 04/01/2041	$	319	$	220
Equinix
2.950%, 09/15/2051		505		315
Extra Space Storage
2.350%, 03/15/2032		135		106
GLP Capital
3.250%, 01/15/2032		445		361
Invitation Homes Operating Partnership
2.700%, 01/15/2034		190		144
Kilroy Realty
2.650%, 11/15/2033		215		142
Kimco Realty
4.250%, 04/01/2045		110		83
NNN REIT
4.800%, 10/15/2048		335		277
Regency Centers LP
4.650%, 03/15/2049		345		287
4.400%, 02/01/2047		175		141
Rexford Industrial Realty Inc
2.150%, 09/01/2031		280		220
Simon Property Group LP
6.750%, 02/01/2040		634		690
5.850%, 03/08/2053		712		705
4.250%, 11/30/2046		50		39
3.250%, 09/13/2049		135		89
Spirit Realty
3.200%, 02/15/2031		595		488
Sun Communities Operating
5.700%, 01/15/2033		135		131
4.200%, 04/15/2032		445		388
2.700%, 07/15/2031		55		44
Ventas Realty
5.700%, 09/30/2043		700		658
VICI Properties
5.750%, 02/01/2027 (A)		35		35
5.625%, 05/15/2052		1,035		912
Welltower
4.950%, 09/01/2048		229		203
Welltower OP LLC
5.125%, 03/15/2043		999		858
Weyerhaeuser
4.000%, 03/09/2052		440		344

				10,255

Telecommunication Services — 0.1%
COX Communications
4.500%, 06/30/2043 (A)		382		310
Rogers Communications
4.550%, 03/15/2052 (A)		402		319

				629


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Utilities — 10.0%
AEP Transmission LLC
3.800%, 06/15/2049	$	260	$	207
3.650%, 04/01/2050		600		461
AES
2.450%, 01/15/2031		135		108
Alabama Power
4.300%, 07/15/2048		475		398
4.150%, 08/15/2044		395		329
3.700%, 12/01/2047		861		660
American Water Capital
4.150%, 06/01/2049		100		83
3.450%, 05/01/2050		730		539
Appalachian Power
4.450%, 06/01/2045		650		540
Arizona Public Service
3.350%, 05/15/2050		845		574
Baltimore Gas and Electric
5.200%, 06/15/2033		773		762
2.900%, 06/15/2050		270		180
Berkshire Hathaway Energy
6.125%, 04/01/2036		2,361		2,553
Black Hills
4.200%, 09/15/2046		500		388
Brooklyn Union Gas
4.273%, 03/15/2048 (A)		355		271
CenterPoint Energy Houston Electric LLC
5.300%, 04/01/2053		330		335
3.600%, 03/01/2052		135		104
Cleco Power
6.000%, 12/01/2040		310		305
CMS Energy
4.875%, 03/01/2044		677		616
Commonwealth Edison
4.350%, 11/15/2045		775		672
3.850%, 03/15/2052		140		111
3.700%, 03/01/2045		600		470
3.200%, 11/15/2049		270		191
Connecticut Light & Power
4.000%, 04/01/2048		285		237
Consolidated Edison of New York
6.750%, 04/01/2038		275		312
6.300%, 08/15/2037		865		939
6.150%, 11/15/2052		170		182
3.850%, 06/15/2046		500		388
3.700%, 11/15/2059		600		431
Constellation Energy Generation LLC
5.750%, 10/01/2041		299		285
5.600%, 06/15/2042		510		493
Consumers Energy
3.100%, 08/15/2050		250		176


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Dominion Energy
5.250%, 08/01/2033	$	1,230	$	1,209
4.900%, 08/01/2041		1,125		997
4.850%, 08/15/2052		95		83
3.300%, 04/15/2041		365		269
DTE Electric
5.400%, 04/01/2053		45		46
4.050%, 05/15/2048		340		282
Duke Energy
5.000%, 08/15/2052		598		534
Duke Energy Carolinas LLC
6.100%, 06/01/2037		1,120		1,184
6.000%, 01/15/2038		614		654
5.350%, 01/15/2053		127		127
5.300%, 02/15/2040		700		706
4.250%, 12/15/2041		850		738
3.550%, 03/15/2052		120		91
Duke Energy Florida LLC
6.350%, 09/15/2037		270		298
Duke Energy Indiana LLC
6.350%, 08/15/2038		165		184
4.900%, 07/15/2043		425		401
Duke Energy Progress LLC
4.375%, 03/30/2044		1,560		1,358
Electricite de France
6.900%, 05/23/2053 (A)		375		385
6.000%, 01/22/2114 (A)		143		127
Elm Road Generating Station Supercritical
5.848%, 01/19/2041 (A)		2,007		2,027
Entergy
3.750%, 06/15/2050		114		83
Entergy Louisiana LLC
4.750%, 09/15/2052		100		91
4.200%, 04/01/2050		470		389
Entergy Texas
5.000%, 09/15/2052		135		126
3.550%, 09/30/2049		275		202
Essential Utilities
5.300%, 05/01/2052		370		347
4.276%, 05/01/2049		195		157
Exelon
4.950%, 06/15/2035		955		922
Exelon Generation LLC
6.250%, 10/01/2039		668		693
FirstEnergy Transmission LLC
5.450%, 07/15/2044 (A)		175		163
4.550%, 04/01/2049 (A)		100		82
Florida Power & Light
5.960%, 04/01/2039		720		774
5.690%, 03/01/2040		656		696
5.400%, 09/01/2035		2,315		2,366


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Indiana Michigan Power
5.625%, 04/01/2053	$	335	$	342
Indianapolis Power & Light
6.050%, 10/01/2036 (A)		721		739
Interstate Power and Light
3.100%, 11/30/2051		430		284
Jersey Central Power & Light
6.400%, 05/15/2036		1,225		1,268
KeySpan Gas East
5.819%, 04/01/2041 (A)		710		688
MidAmerican Energy
4.800%, 09/15/2043		325		305
MidAmerican Energy MTN
5.800%, 10/15/2036		265		284
Narragansett Electric
4.170%, 12/10/2042 (A)		1,320		1,050
New England Power
5.936%, 11/25/2052 (A)		260		274
NextEra Energy Capital Holdings
5.250%, 02/28/2053		240		227
Niagara Mohawk Power
5.783%, 09/16/2052 (A)		265		265
3.025%, 06/27/2050 (A)		300		194
Northern States Power
5.350%, 11/01/2039		935		949
5.100%, 05/15/2053		545		533
3.600%, 09/15/2047		200		157
3.400%, 08/15/2042		290		228
3.200%, 04/01/2052		100		72
NSTAR Electric
4.550%, 06/01/2052		303		272
4.400%, 03/01/2044		405		361
Oglethorpe Power
5.250%, 09/01/2050		601		557
5.050%, 10/01/2048		570		502
4.500%, 04/01/2047		255		210
Oklahoma Gas and Electric
5.600%, 04/01/2053		245		246
Oncor Electric Delivery LLC
5.350%, 10/01/2052		370		376
5.300%, 06/01/2042		225		230
5.250%, 09/30/2040		425		421
4.950%, 09/15/2052 (A)		270		258
2.700%, 11/15/2051		250		162
Pacific Gas and Electric
6.750%, 01/15/2053		498		488
6.700%, 04/01/2053		165		161
5.250%, 03/01/2052		450		363
4.950%, 07/01/2050		145		113
4.500%, 07/01/2040		395		306
4.200%, 06/01/2041		190		141
3.500%, 08/01/2050		100		62


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.300%, 08/01/2040	$	135	$	91
2.500%, 02/01/2031		210		166
PacifiCorp
6.000%, 01/15/2039		567		592
PECO Energy
4.375%, 08/15/2052		155		136
3.900%, 03/01/2048		600		493
Piedmont Natural Gas
4.650%, 08/01/2043		330		290
PPL Electric Utilities
4.150%, 06/15/2048		320		277
4.125%, 06/15/2044		570		482
Public Service Electric and Gas MTN
4.050%, 05/01/2048		245		208
Public Service of Colorado
6.250%, 09/01/2037		420		460
5.250%, 04/01/2053		175		173
4.500%, 06/01/2052		100		88
4.100%, 06/15/2048		280		233
4.050%, 09/15/2049		93		76
Puget Sound Energy
4.223%, 06/15/2048		680		572
2.893%, 09/15/2051		190		125
San Diego Gas & Electric
3.320%, 04/15/2050		70		50
Sempra Energy
6.000%, 10/15/2039		865		882
3.800%, 02/01/2038		240		200
Southern California Edison
6.050%, 03/15/2039		370		384
3.900%, 03/15/2043		245		194
3.650%, 02/01/2050		80		59
Southern California Gas
6.350%, 11/15/2052		305		337
5.750%, 06/01/2053		265		268
3.750%, 09/15/2042		380		301
Southern Gas Capital
5.875%, 03/15/2041		1,008		1,028
4.400%, 06/01/2043		545		450
Southwestern Electric Power
6.200%, 03/15/2040		990		1,019
Southwestern Public Service
4.400%, 11/15/2048		385		326
Tampa Electric
4.300%, 06/15/2048		630		524
Tucson Electric Power
3.250%, 05/01/2051		760		512
Virginia Electric and Power
5.450%, 04/01/2053		300		294
4.600%, 12/01/2048		400		351
4.450%, 02/15/2044		750		642


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Wisconsin Public Service
3.300%, 09/01/2049	$	175	$	124
2.850%, 12/01/2051		500		331
Xcel Energy
4.800%, 09/15/2041		50		45

				58,962

Total Corporate Obligations
(Cost $436,824) ($ Thousands)				380,462



U.S. TREASURY OBLIGATIONS — 27.9%
U.S. Treasury Bills
5.273%, 11/02/2023 (D)		4,275		4,180
5.088%, 10/26/2023 (D)		435		426
4.864%, 10/05/2023 (D)		1,140		1,119
4.721%, 07/20/2023 (D)		335		333
U.S. Treasury Bonds
4.124%, 05/15/2050 (D)		8,020		2,849
4.000%, 11/15/2052		625		643
3.875%, 05/15/2043		9,408		9,237
3.750%, 08/15/2041		1,095		1,066
3.750%, 11/15/2043		1,240		1,194
3.625%, 08/15/2043		1,452		1,374
3.625%, 02/15/2044		2,011		1,897
3.625%, 02/15/2053		7,625		7,324
3.625%, 05/15/2053		4,890		4,705
3.545%, 11/15/2047 (D)		3,705		1,408
3.436%, 08/15/2043 (D)		9,912		4,414
3.375%, 08/15/2042		13,223		12,082
3.125%, 11/15/2041		1,730		1,535
3.125%, 02/15/2043		2,070		1,816
3.125%, 08/15/2044		2,870		2,496
3.000%, 05/15/2042		990		857
3.000%, 11/15/2044 (E)		8,230		6,998
3.000%, 05/15/2047		2,415		2,041
3.000%, 08/15/2052		12,182		10,353
2.875%, 11/15/2046		2,605		2,154
2.875%, 05/15/2052		13,040		10,798
2.750%, 08/15/2042		1,120		929
2.750%, 11/15/2047		800		645
2.375%, 02/15/2042		8,565		6,699
2.375%, 11/15/2049		915		683
2.375%, 05/15/2051		3,250		2,415
2.250%, 02/15/2052		12,360		8,915
2.242%, 08/15/2045 (D)		5,085		2,074
2.000%, 11/15/2041		38,785		28,501
2.000%, 08/15/2051		7,368		5,011
1.875%, 11/15/2051		4,520		2,974
1.750%, 08/15/2041		9,790		6,905
1.375%, 11/15/2040		585		392


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS (continued)
1.375%, 08/15/2050	$	5,270	$	3,053
1.125%, 08/15/2040		1,085		699
U.S. Treasury Inflation-Protected Securities
1.000%, 02/15/2049		715		613
0.125%, 02/15/2052		591		390
U.S. Treasury Notes
3.375%, 05/15/2033		945		925

Total U.S. Treasury Obligations
(Cost $180,196) ($ Thousands)				165,122



MUNICIPAL BONDS — 3.3%
California — 1.7%
Bay Area, Toll Authority, Build America Project, RB
6.263%, 04/01/2049		600		704
California State, Build America Project, GO
7.500%, 04/01/2034		1,385		1,700
7.350%, 11/01/2039		1,075		1,304
California State, Health Facilities Financing Authority, RB
3.000%, 08/15/2051		125		93
Los Angeles, Community College District, Build America Project, GO
6.750%, 08/01/2049		590		736
Los Angeles, Department of Airports, RB
6.582%, 05/15/2039		250		279
Los Angeles, Unified School District, Build America Project, Ser RY, GO
6.758%, 07/01/2034		1,360		1,549
Regents of the University of California Medical Center, Ser N, RB
3.256%, 05/15/2060		790		543
Riverside County, Pension Obligation, RB
3.818%, 02/15/2038		345		313
San Francisco, Public Utilities Commission, Water Revenue, Build America Project, Ser DE, RB
6.000%, 11/01/2040		1,235		1,345
University of California Regents, Build America Project, Ser H, RB
6.548%, 05/15/2048		605		704
University of California, Ser AD, RB
4.858%, 05/15/2112		635		567
University of California, Ser AP, RB
3.931%, 05/15/2045		475		426

				10,263


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Georgia — 0.1%
Georgia State, Municipal Electric Authority, Build America Project, RB
6.637%, 04/01/2057	$	597	$	650


Illinois — 0.2%
Greater Chicago, Metropolitan Water Reclamation District, GO
5.720%, 12/01/2038		1,005		1,095


Massachusetts — 0.1%
Massachusetts State, School Building Authority, Sub-Ser B, RB
3.395%, 10/15/2040		240		199


Michigan — 0.0%
Michigan State University, Ser A, RB
4.165%, 08/15/2122		165		130


Missouri — 0.1%
Missouri State, Joint Municipal Electric Utility Commission, Build America Project, Ser A, RB
6.890%, 01/01/2042		600		682


New Jersey — 0.0%
New Jersey State, Turnpike Authority, Build America Project, RB
7.414%, 01/01/2040		60		75


New York — 0.6%
New York & New Jersey, Port Authority, RB
4.458%, 10/01/2062		350		317
New York City, Transitional Finance Authority, Future Tax Secured Revenue, Build America Project, RB
5.572%, 11/01/2038		840		883
5.508%, 08/01/2037		250		262
New York State, Dormitory Authority, Ser F, RB
3.110%, 02/15/2039		1,215		1,002
New York State, Urban Development, Build America Project, RB
5.770%, 03/15/2039		1,100		1,151

				3,615

Texas — 0.5%
Grand Parkway, Transportation Corp, Ser E, RB
5.184%, 10/01/2042		530		544
North Texas, Tollway Authority, Build America Project, RB
6.718%, 01/01/2049		490		606


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
North Texas, Tollway Authority, RB
3.029%, 01/01/2040	$	735	$	590
Texas State, Private Activity Bond Surface Transportation, RB
3.922%, 12/31/2049		355		289
University of Texas, Build America Bonds, RB
5.262%, 07/01/2039		575		591

				2,620


Total Municipal Bonds
(Cost $20,714) ($ Thousands)				19,329



MORTGAGE-BACKED SECURITIES — 1.0%
Agency Mortgage-Backed Obligations — 1.0%
FHLMC REMIC CMO, Ser 2004-2733, Cl ME
5.000%, 01/15/2034		45		45
FHLMC REMIC CMO, Ser 2004-2748, Cl ZT
5.500%, 02/15/2024		28		28
FHLMC REMIC CMO, Ser 2010-3756, Cl PZ
4.000%, 11/15/2040		3,094		2,961
FNMA CMO, Ser 2004-12, Cl ZX
6.000%, 03/25/2034		786		809
FNMA CMO, Ser 2004-80, Cl XZ
5.000%, 11/25/2034		502		496
FNMA REMIC CMO, Ser 2007-68, Cl SC, IO
1.562%, 07/25/2037(C)		11		1
GNMA ARM
2.875%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.500%, 06/20/2032(C)		21		20
GNMA CMO, Ser 2009-8, Cl PS, IO
1.195%, 08/16/2038(C)		9		–
GNMA CMO, Ser 2010-4, Cl NS, IO
1.285%, 01/16/2040(C)		38		3
GNMA CMO, Ser 2011-70, Cl BO, PO
0.000%, 05/20/2041(B)		1,530		1,221


				5,584
Non-Agency Mortgage-Backed Obligations — 0.0%
DSLA Mortgage Loan Trust, Ser 2005-AR2, Cl 2A1A
5.552%, ICE LIBOR USD 1 Month + 0.420%, 03/19/2045(C)		21		20
Harborview Mortgage Loan Trust, Ser 2004-8, Cl 2A4A
5.932%, ICE LIBOR USD 1 Month + 0.800%, 11/19/2034(C)		47		44


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Indymac Index Mortgage Loan Trust, Ser 2004-AR12, Cl A1
5.918%, ICE LIBOR USD 1 Month + 0.780%, 12/25/2034(C)	$	46	$	36
Indymac Index Mortgage Loan Trust, Ser 2004-AR7, Cl A2
5.998%, ICE LIBOR USD 1 Month + 0.860%, 09/25/2034(C)		9		7
RAMP Trust, Ser 2004-SL1, Cl A7
7.000%, 11/25/2031		6		5
Residential Asset Securitization Trust, Ser 2004-IP2, Cl 2A1
3.523%, 12/25/2034(C)		13		11
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR2, Cl 2A21
5.798%, ICE LIBOR USD 1 Month + 0.660%, 01/25/2045(C)		24		24


				147
Total Mortgage-Backed Securities
(Cost $4,508) ($ Thousands)				5,731



SOVEREIGN DEBT — 0.8%

Chile Government International Bond
4.340%, 03/07/2042		235		207
Indonesia Government International Bond
5.450%, 09/20/2052		95		96
4.650%, 09/20/2032		165		163
4.350%, 01/11/2048		40		35
3.700%, 10/30/2049		35		28
Israel Government International Bond
3.375%, 01/15/2050		755		554
Mexico Government International Bond
6.350%, 02/09/2035		125		132
6.338%, 05/04/2053		730		732
5.750%, 10/12/2110		229		199
5.000%, 04/27/2051		1,085		923
4.280%, 08/14/2041		219		178
Minera Mexico
4.500%, 01/26/2050(A)		250		189
Panama Government International Bond
4.500%, 04/01/2056		38		28
3.870%, 07/23/2060		235		152


Description	Face Amount (Thousands)		Market Value ($ Thousands)
SOVEREIGN DEBT (continued)
Perusahaan Penerbit SBSN Indonesia III
3.550%, 06/09/2051(A)	$	115	$	87
Philippine Government International Bond
5.950%, 10/13/2047		90		98
5.609%, 04/13/2033		100		107
3.200%, 07/06/2046		470		348
2.950%, 05/05/2045		125		89
Poland Government International Bond
5.500%, 04/04/2053		295		296
Uruguay Government International Bond
5.100%, 06/18/2050		230		226

Total Sovereign Debt
(Cost $5,605) ($ Thousands)				4,867



U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.8%
Tennessee Valley Authority
5.250%, 09/15/2039		2,615		2,770
Tennessee Valley Authority, PO
0.000%, 01/15/2038(B)		3,700		1,893



Total U.S. Government Agency Obligations
(Cost $4,958) ($ Thousands)				4,663


	Shares
CASH EQUIVALENT — 0.8%
SEI Daily Income Trust, Government Fund, Institutional Class
4.769%**^†		4,760,632		4,761

Total Cash Equivalent
(Cost $4,761) ($ Thousands)				4,761


Total Investments in Securities — 98.8%
(Cost $657,566) ($ Thousands)			$	584,935

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open centrally cleared swap agreements held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $592,257 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $36,562 ($ Thousands), representing 6.2% of the Net Assets of the Fund.
(B)	Zero coupon security.
(C)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(D)	Interest rate represents the security's effective yield at the time of purchase.
(E)	Security, or a portion thereof, has been pledged as collateral on open future agreements. The total market value of such securities as of May 31, 2023 was $668 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Corporate Obligations

–

380,462

–

380,462

U.S. Treasury Obligations

–

165,122

–

165,122

Municipal Bonds

–

19,329

–

19,329

Mortgage-Backed Securities

–

5,731

–

5,731

Sovereign Debt

–

4,867

–

4,867

U.S. Government Agency Obligations

–

4,663

–

4,663

Cash Equivalent

4,761

–

4,761

Total Investments in Securities

4,761

580,174

–

584,935

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

578

–

578

Unrealized Depreciation

(321

)

–

(321

)

Centrally Cleared Swaps

Interest Rate Swaps*

Unrealized Appreciation

–

Total Other Financial Instruments

257

–

298

*	Futures contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund's transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†

Percentages based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 83.6%
Communication Services — 6.3%
Activision Blizzard
2.500%, 09/15/2050	$	4,255	$	2,686
Alphabet
2.250%, 08/15/2060		4,358		2,600
1.900%, 08/15/2040		970		662
America Movil
6.125%, 03/30/2040		3,300		3,512
AT&T
5.400%, 02/15/2034		695		696
4.300%, 12/15/2042		500		421
3.500%, 09/15/2053		6,337		4,399
Charter Communications Operating LLC / Charter Communications Operating Capital
6.834%, 10/23/2055		580		537
6.484%, 10/23/2045		1,875		1,697
5.250%, 04/01/2053		200		156
4.800%, 03/01/2050		1,480		1,083
3.500%, 03/01/2042		194		127
Comcast
6.500%, 11/15/2035		420		468
5.650%, 06/15/2035		3,595		3,770
5.500%, 05/15/2064		1,090		1,081
5.350%, 05/15/2053		1,095		1,090
4.600%, 08/15/2045		1,150		1,033
4.250%, 01/15/2033		4,000		3,826
4.200%, 08/15/2034		3,370		3,169
4.049%, 11/01/2052		6,068		4,969
4.000%, 03/01/2048		4,465		3,698
3.969%, 11/01/2047		4,605		3,771
3.900%, 03/01/2038		5,005		4,362
3.400%, 07/15/2046		6,725		5,040


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.250%, 11/01/2039	$	260	$	204
2.987%, 11/01/2063		31,324		19,416
2.937%, 11/01/2056		35,300		22,616
2.887%, 11/01/2051		11,883		7,825
2.800%, 01/15/2051		2,020		1,321
Cox Communications
4.700%, 12/15/2042 (A)		294		245
Crown Castle Towers LLC
3.663%, 05/15/2025 (A)		2,585		2,474
Meta Platforms
5.750%, 05/15/2063		2,115		2,105
5.600%, 05/15/2053		6,040		6,036
4.650%, 08/15/2062		2,715		2,310
4.450%, 08/15/2052		8,374		7,085
NBCUniversal Media LLC
4.450%, 01/15/2043		1,182		1,054
NTT Finance
1.591%, 04/03/2028 (A)		2,360		2,048
Paramount Global
5.900%, 10/15/2040		40		34
5.850%, 09/01/2043		845		702
4.850%, 12/15/2034		300		254
4.375%, 03/15/2043		1,644		1,140
SES GLOBAL Americas Holdings GP
5.300%, 03/25/2044 (A)		1,550		1,160
Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC
5.152%, 03/20/2028 (A)		265		263
Tencent Holdings MTN
3.840%, 04/22/2051 (A)		885		654
Time Warner Cable Enterprises LLC
8.375%, 07/15/2033		1,709		1,896
Time Warner Cable LLC
7.300%, 07/01/2038		1,056		1,079
5.500%, 09/01/2041		650		537
4.500%, 09/15/2042		500		370
T-Mobile USA
5.800%, 09/15/2062		450		450
4.500%, 04/15/2050		340		290
3.400%, 10/15/2052		595		417
3.300%, 02/15/2051		500		346
3.000%, 02/15/2041		1,125		812
TWDC Enterprises 18
4.125%, 12/01/2041		1,540		1,330
TWDC Enterprises 18 MTN
4.125%, 06/01/2044		1,854		1,604
Verizon Communications
5.250%, 03/16/2037		840		831
3.875%, 03/01/2052		2,584		1,988
3.700%, 03/22/2061		2,100		1,497
3.550%, 03/22/2051		510		371
3.400%, 03/22/2041		1,755		1,340


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.650%, 11/20/2040	$	1,450	$	995
Vodafone Group PLC
5.625%, 02/10/2053		400		382
4.875%, 06/19/2049		538		463
4.250%, 09/17/2050		532		419
Walt Disney
6.650%, 11/15/2037		990		1,133
6.400%, 12/15/2035		2,043		2,290
4.625%, 03/23/2040		1,305		1,237
3.600%, 01/13/2051		13,946		10,768
3.500%, 05/13/2040		6,620		5,436
2.750%, 09/01/2049		22,036		14,661
Warnermedia Holdings
5.391%, 03/15/2062		7,559		5,880
5.141%, 03/15/2052		2,535		1,978

				194,599

Consumer Discretionary — 4.5%
7-Eleven
2.500%, 02/10/2041 (A)		870		580
Alimentation Couche-Tard
4.500%, 07/26/2047 (A)		1,200		956
Amazon.com
4.050%, 08/22/2047		8,855		7,860
3.950%, 04/13/2052		7,021		6,009
3.875%, 08/22/2037		3,854		3,532
3.250%, 05/12/2061		12,556		8,918
3.100%, 05/12/2051		6,409		4,688
2.875%, 05/12/2041		3,695		2,817
2.700%, 06/03/2060		7,250		4,599
2.500%, 06/03/2050		11,198		7,281
Aptiv
4.150%, 05/01/2052		1,250		919
BMW US Capital LLC
4.150%, 04/09/2030 (A)		1,030		995
2.550%, 04/01/2031 (A)		1,615		1,387
Boston University
4.061%, 10/01/2048		1,800		1,576
California Institute of Technology
4.321%, 08/01/2045		650		600
Emory University
2.969%, 09/01/2050		1,660		1,183
Georgetown University
5.215%, 10/01/2118		1,921		1,761
4.315%, 04/01/2049		1,755		1,540
2.943%, 04/01/2050		540		365
Home Depot
5.950%, 04/01/2041		2,700		2,953
4.950%, 09/15/2052		5,010		4,860
4.500%, 12/06/2048		3,795		3,478
4.400%, 03/15/2045		6,980		6,270
4.250%, 04/01/2046		8,912		7,817


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.200%, 04/01/2043	$	1,835	$	1,614
3.900%, 06/15/2047		12,343		10,314
3.625%, 04/15/2052		500		389
3.350%, 04/15/2050		3,235		2,414
3.300%, 04/15/2040		1,465		1,175
3.125%, 12/15/2049		1,390		994
2.750%, 09/15/2051		3,505		2,306
2.375%, 03/15/2051		5,589		3,416
Johns Hopkins University
4.083%, 07/01/2053		2,000		1,746
2.813%, 01/01/2060		490		326
Lowe's
5.750%, 07/01/2053		68		67
5.625%, 04/15/2053		385		376
4.250%, 04/01/2052		550		440
3.700%, 04/15/2046		2,116		1,595
Massachusetts Institute of Technology
5.600%, 07/01/2111		2,745		3,023
3.067%, 04/01/2052		2,540		1,885
2.294%, 07/01/2051		21		13
McDonald's MTN
3.625%, 09/01/2049		400		308
NIKE
3.625%, 05/01/2043		1,300		1,080
3.250%, 03/27/2040		3,360		2,744
Northwestern University
3.688%, 12/01/2038		2,070		1,858
Pomona College
2.888%, 01/01/2051		1,240		851
President & Fellows of Harvard College
3.745%, 11/15/2052		4,252		3,622
3.619%, 10/01/2037		400		350
2.517%, 10/15/2050		1,415		955
Princeton University
5.700%, 03/01/2039		1,159		1,278
Starbucks
3.350%, 03/12/2050		1,205		871
Toyota Motor Credit MTN
4.700%, 01/12/2033		1,510		1,511
Trustees of Boston College
3.042%, 07/01/2057		1,230		791
Trustees of Tufts College
3.099%, 08/15/2051		2,667		1,806
University of Chicago
4.411%, 10/01/2044		715		638
2.761%, 04/01/2045		2,520		1,956
University of Southern California
3.841%, 10/01/2047		1,325		1,140
3.028%, 10/01/2039		2,300		1,885
2.805%, 10/01/2050		925		634

				139,315


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Consumer Staples — 4.9%
Altria Group
10.200%, 02/06/2039	$	2,501	$	3,471
9.950%, 11/10/2038		1,555		2,077
4.500%, 05/02/2043		100		78
4.250%, 08/09/2042		575		444
3.875%, 09/16/2046		640		444
3.400%, 02/04/2041		433		297
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide
4.900%, 02/01/2046		16,781		15,937
4.700%, 02/01/2036		9,450		9,257
Anheuser-Busch InBev Worldwide
8.200%, 01/15/2039		1,445		1,882
8.000%, 11/15/2039		2,786		3,544
5.550%, 01/23/2049		6,460		6,755
4.600%, 04/15/2048		4,854		4,461
BAT Capital
4.758%, 09/06/2049		1,046		775
4.390%, 08/15/2037		1,095		866
3.734%, 09/25/2040		110		77
Cargill
4.375%, 04/22/2052 (A)		2,475		2,156
Church & Dwight
5.000%, 06/15/2052		1,220		1,176
Coca-Cola
2.500%, 06/01/2040		440		330
2.500%, 03/15/2051		3,460		2,322
Constellation Brands
3.750%, 05/01/2050		1,150		881
CSL Finance PLC
4.950%, 04/27/2062 (A)		1,180		1,081
4.750%, 04/27/2052 (A)		2,849		2,604
4.625%, 04/27/2042 (A)		320		295
Dollar General
5.500%, 11/01/2052		640		624
Dollar Tree
3.375%, 12/01/2051		855		576
Estee Lauder
3.125%, 12/01/2049		2,535		1,844
Ford Foundation
2.815%, 06/01/2070		870		521
Haleon US Capital LLC
4.000%, 03/24/2052		670		544
Hormel Foods
3.050%, 06/03/2051		1,305		914
JBS USA LUX / JBS USA Food / JBS USA Finance
6.500%, 12/01/2052 (A)		6,340		5,735
5.750%, 04/01/2033 (A)		7,445		6,943
4.375%, 02/02/2052 (A)		1,250		836


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Kenvue
5.200%, 03/22/2063 (A)	$	790	$	793
5.100%, 03/22/2043 (A)		3,020		3,040
5.050%, 03/22/2053 (A)		4,845		4,877
Kimberly-Clark
5.300%, 03/01/2041		1,315		1,358
3.900%, 05/04/2047		2,275		1,934
Kraft Heinz Foods
7.125%, 08/01/2039 (A)		1,160		1,289
5.000%, 06/04/2042		300		280
Kroger
5.400%, 01/15/2049		1,371		1,327
Mars
4.750%, 04/20/2033 (A)		4,600		4,567
3.950%, 04/01/2049 (A)		1,780		1,476
Nestle Holdings
3.900%, 09/24/2038 (A)		2,685		2,446
PepsiCo
4.650%, 02/15/2053		1,689		1,680
4.200%, 07/18/2052		1,835		1,693
3.450%, 10/06/2046		6,625		5,424
Philip Morris International
5.750%, 11/17/2032		3,350		3,434
4.875%, 11/15/2043		2,830		2,486
4.500%, 03/20/2042		6,605		5,615
4.125%, 03/04/2043		806		639
3.875%, 08/21/2042		985		761
Reynolds American
8.125%, 05/01/2040		2,390		2,575
5.850%, 08/15/2045		895		782
Target
4.800%, 01/15/2053		4,155		3,910
2.950%, 01/15/2052		3,550		2,467
Walmart
4.500%, 09/09/2052		3,639		3,484
4.500%, 04/15/2053		6,579		6,305
2.650%, 09/22/2051		6,825		4,771
2.500%, 09/22/2041		3,761		2,759

				151,919

Energy — 4.6%
Aker BP
3.100%, 07/15/2031 (A)		475		395
BG Energy Capital
5.125%, 10/15/2041 (A)		2,255		2,114
BP Capital Markets America
4.893%, 09/11/2033		4,875		4,843
4.812%, 02/13/2033		765		756
3.379%, 02/08/2061		12,956		9,020
3.060%, 06/17/2041		2,045		1,519
3.001%, 03/17/2052		1,055		710
3.000%, 02/24/2050		3,177		2,163


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.939%, 06/04/2051	$	7,345	$	4,907
2.772%, 11/10/2050		4,027		2,621
Chevron USA
2.343%, 08/12/2050		1,685		1,059
ConocoPhillips
4.300%, 11/15/2044		3,755		3,284
4.025%, 03/15/2062		12,374		9,854
3.800%, 03/15/2052		2,050		1,632
Devon Energy
7.875%, 09/30/2031		815		928
Diamondback Energy
4.400%, 03/24/2051		500		388
4.250%, 03/15/2052		2,365		1,787
Energy Transfer
6.250%, 04/15/2049		730		695
6.050%, 06/01/2041		2,225		2,132
5.400%, 10/01/2047		2,202		1,893
5.300%, 04/15/2047		180		152
5.150%, 03/15/2045		651		546
5.000%, 05/15/2050		250		205
Eni SpA
5.700%, 10/01/2040 (A)		2,285		2,056
Enterprise Products Operating LLC
5.950%, 02/01/2041		602		618
EOG Resources
4.950%, 04/15/2050		1,600		1,552
Equinor
5.100%, 08/17/2040		1,415		1,401
4.800%, 11/08/2043		899		857
3.700%, 04/06/2050		3,260		2,627
3.625%, 04/06/2040		2,615		2,188
3.250%, 11/18/2049		1,029		761
Exxon Mobil
4.327%, 03/19/2050		3,148		2,814
4.227%, 03/19/2040		3,710		3,396
4.114%, 03/01/2046		1,030		894
3.567%, 03/06/2045		4,100		3,309
3.452%, 04/15/2051		13,677		10,495
3.095%, 08/16/2049		760		551
Hess
6.000%, 01/15/2040		3,100		3,057
5.600%, 02/15/2041		2,555		2,407
Marathon Petroleum
5.000%, 09/15/2054		530		428
Northern Natural Gas
4.300%, 01/15/2049 (A)		1,530		1,239
Occidental Petroleum
4.300%, 08/15/2039		462		363
Petroleos Mexicanos
7.690%, 01/23/2050		1,120		726
Shell International Finance BV
6.375%, 12/15/2038		3,326		3,712


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.550%, 08/12/2043	$	1,850	$	1,692
4.375%, 05/11/2045		10,695		9,473
4.000%, 05/10/2046		4,473		3,748
3.750%, 09/12/2046		6,374		5,114
3.625%, 08/21/2042		2,195		1,794
3.000%, 11/26/2051		3,147		2,177
Suncor Energy
5.950%, 12/01/2034		3,080		3,110
Tennessee Gas Pipeline LLC
8.375%, 06/15/2032		2,020		2,319
TotalEnergies Capital International
3.386%, 06/29/2060		455		327
3.127%, 05/29/2050		10,220		7,272
2.986%, 06/29/2041		1,370		1,035
TransCanada PipeLines
7.250%, 08/15/2038		1,765		1,973
4.625%, 03/01/2034		1,965		1,812
Williams
5.400%, 03/04/2044		1,000		915
5.300%, 08/15/2052		250		226

				142,041

Financials — 20.2%
AIA Group MTN
4.875%, 03/11/2044 (A)		3,372		3,187
AIG SunAmerica Global Financing X
6.900%, 03/15/2032 (A)		4,235		4,564
Alleghany
4.900%, 09/15/2044		1,380		1,286
Allstate
4.500%, 06/15/2043		528		457
American Express
4.989%, U.S. SOFR + 2.255%, 05/26/2033 (B)		1,410		1,365
American International Group
4.800%, 07/10/2045		200		176
4.375%, 06/30/2050		125		103
Aon
3.900%, 02/28/2052		1,885		1,454
Apollo Management Holdings
4.872%, 02/15/2029 (A)		2,245		2,162
Arthur J Gallagher
5.750%, 03/02/2053		980		976
3.500%, 05/20/2051		1,275		890
Athene Holding
6.650%, 02/01/2033		1,275		1,283
3.450%, 05/15/2052		810		488
Bank of America
7.750%, 05/14/2038		3,920		4,660
6.000%, 10/15/2036		3,750		4,007
4.571%, U.S. SOFR + 1.830%, 04/27/2033 (B)		2,870		2,696


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.483%, U.S. SOFR + 1.650%, 03/13/2052 (B)	$	724	$	527
3.311%, U.S. SOFR + 1.580%, 04/22/2042 (B)		11,714		8,780
2.651%, U.S. SOFR + 1.220%, 03/11/2032 (B)		5,405		4,470
2.572%, U.S. SOFR + 1.210%, 10/20/2032 (B)		3,785		3,073
2.299%, U.S. SOFR + 1.220%, 07/21/2032 (B)		1,075		857
Bank of America MTN
5.875%, 02/07/2042		6,600		6,944
4.330%, TSFR3M + 1.782%, 03/15/2050 (B)		5,282		4,446
4.083%, TSFR3M + 3.412%, 03/20/2051 (B)		8,780		7,066
4.078%, TSFR3M + 1.582%, 04/23/2040 (B)		4,765		4,019
2.972%, U.S. SOFR + 1.330%, 02/04/2033 (B)		940		784
2.676%, U.S. SOFR + 1.930%, 06/19/2041 (B)		35,639		24,464
Bank of New York Mellon MTN
5.834%, SOFRINDX + 2.074%, 10/25/2033 (B)		1,560		1,640
Barclays PLC
3.330%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.300%, 11/24/2042 (B)		805		563
Berkshire Hathaway Finance
4.400%, 05/15/2042		1,750		1,651
4.300%, 05/15/2043		1,535		1,396
4.250%, 01/15/2049		1,710		1,540
4.200%, 08/15/2048		1,575		1,408
3.850%, 03/15/2052		8,985		7,330
2.850%, 10/15/2050		5,101		3,515
Blackstone Holdings Finance LLC
6.250%, 08/15/2042 (A)		1,313		1,274
5.000%, 06/15/2044 (A)		2,050		1,756
2.000%, 01/30/2032 (A)		990		743
Brown & Brown
4.950%, 03/17/2052		1,100		929
Carlyle Holdings II Finance LLC
5.625%, 03/30/2043 (A)		3,818		3,372
Charles Schwab
5.853%, U.S. SOFR + 2.500%, 05/19/2034 (B)		965		978
Chubb INA Holdings
6.700%, 05/15/2036		4,870		5,520
4.350%, 11/03/2045		2,990		2,669
3.050%, 12/15/2061		3,090		2,037
2.850%, 12/15/2051		795		541


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Cincinnati Financial
6.125%, 11/01/2034	$	3,553	$	3,804
Citigroup
8.125%, 07/15/2039		4,230		5,373
6.174%, U.S. SOFR + 2.661%, 05/25/2034 (B)		705		715
6.125%, 08/25/2036		690		705
5.316%, U.S. SOFR + 4.548%, 03/26/2041 (B)		5,920		5,736
4.650%, 07/30/2045		1,539		1,363
4.650%, 07/23/2048		1,470		1,306
4.281%, TSFR3M + 2.101%, 04/24/2048 (B)		4,650		3,925
3.878%, TSFR3M + 1.430%, 01/24/2039 (B)		3,630		3,045
3.785%, U.S. SOFR + 1.939%, 03/17/2033 (B)		4,735		4,204
2.904%, U.S. SOFR + 1.379%, 11/03/2042 (B)		5,370		3,773
Citigroup Capital III
7.625%, 12/01/2036		890		928
CME Group
4.150%, 06/15/2048		1,634		1,473
Commonwealth Bank of Australia
4.316%, 01/10/2048 (A)		2,536		1,901
Credit Suisse Group
9.016%, U.S. SOFR + 5.020%, 11/15/2033 (A)(B)		2,835		3,363
6.537%, U.S. SOFR + 3.920%, 08/12/2033 (A)(B)		895		913
3.091%, U.S. SOFR + 1.730%, 05/14/2032 (A)(B)		1,715		1,379
Farmers Exchange Capital
7.200%, 07/15/2048 (A)		800		827
Farmers Exchange Capital II
6.151%, ICE LIBOR USD 3 Month + 3.744%, 11/01/2053 (A)(B)		2,890		2,807
Fidelity National Information Services
5.625%, 07/15/2052		1,150		1,084
Fifth Third Bancorp
8.250%, 03/01/2038		1,790		2,018
Fiserv
4.400%, 07/01/2049		750		620
Global Payments
5.950%, 08/15/2052		1,255		1,170
Goldman Sachs Capital I
6.345%, 02/15/2034		3,940		4,006
Goldman Sachs Group
6.750%, 10/01/2037		1,463		1,561
6.450%, 05/01/2036		1,115		1,169
6.250%, 02/01/2041		5,694		6,083
4.411%, TSFR3M + 1.692%, 04/23/2039 (B)		13,260		11,619


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.017%, TSFR3M + 1.635%, 10/31/2038 (B)	$	7,105	$	5,990
3.436%, U.S. SOFR + 1.632%, 02/24/2043 (B)		1,550		1,160
3.210%, U.S. SOFR + 1.513%, 04/22/2042 (B)		3,341		2,446
3.102%, U.S. SOFR + 1.410%, 02/24/2033 (B)		2,285		1,938
2.908%, U.S. SOFR + 1.472%, 07/21/2042 (B)		2,700		1,876
2.383%, U.S. SOFR + 1.248%, 07/21/2032 (B)		1,840		1,482
1.992%, U.S. SOFR + 1.090%, 01/27/2032 (B)		2,605		2,058
Goldman Sachs Group MTN
4.800%, 07/08/2044		6,013		5,433
Guardian Life Insurance of America
4.875%, 06/19/2064 (A)		2,450		2,150
HSBC Bank USA
7.000%, 01/15/2039		7,187		7,869
HSBC Holdings PLC
6.800%, 06/01/2038		3,469		3,551
6.500%, 09/15/2037		4,875		5,084
6.332%, U.S. SOFR + 2.650%, 03/09/2044 (B)		2,195		2,273
2.804%, U.S. SOFR + 1.187%, 05/24/2032 (B)		1,260		1,022
Intercontinental Exchange
4.950%, 06/15/2052		3,803		3,605
4.250%, 09/21/2048		697		592
3.000%, 06/15/2050		2,175		1,491
2.650%, 09/15/2040		125		89
Jackson Financial
4.000%, 11/23/2051		495		324
JPMorgan Chase
8.750%, 09/01/2030		1,005		1,196
6.400%, 05/15/2038		6,679		7,462
5.717%, U.S. SOFR + 2.580%, 09/14/2033 (B)		8,212		8,310
5.600%, 07/15/2041		6,115		6,308
5.500%, 10/15/2040		3,052		3,082
5.400%, 01/06/2042		4,499		4,514
4.032%, TSFR3M + 1.722%, 07/24/2048 (B)		1,325		1,083
3.964%, TSFR3M + 1.642%, 11/15/2048 (B)		10,215		8,261
3.897%, TSFR3M + 1.482%, 01/23/2049 (B)		7,430		5,936
3.882%, TSFR3M + 1.622%, 07/24/2038 (B)		16,195		13,906
3.328%, U.S. SOFR + 1.580%, 04/22/2052 (B)		12,008		8,600


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.157%, U.S. SOFR + 1.460%, 04/22/2042 (B)	$	2,690	$	2,011
3.109%, TSFR3M + 2.460%, 04/22/2041 (B)		360		269
3.109%, U.S. SOFR + 2.440%, 04/22/2051 (B)		2,520		1,742
2.963%, U.S. SOFR + 1.260%, 01/25/2033 (B)		2,140		1,811
2.956%, TSFR3M + 2.515%, 05/13/2031 (B)		3,285		2,807
2.525%, TSFR3M + 1.510%, 11/19/2041 (B)		2,905		1,979
KeyBank MTN
5.000%, 01/26/2033		810		712
KKR Group Finance II LLC
5.500%, 02/01/2043 (A)		1,073		975
KKR Group Finance III LLC
5.125%, 06/01/2044 (A)		4,157		3,609
KKR Group Finance VIII LLC
3.500%, 08/25/2050 (A)		920		611
KKR Group Finance X LLC
3.250%, 12/15/2051 (A)		1,473		934
Lloyds Banking Group PLC
4.976%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.300%, 08/11/2033 (B)		1,275		1,206
LSEGA Financing PLC
3.200%, 04/06/2041 (A)		4,214		3,143
Macquarie Group MTN
2.871%, U.S. SOFR + 1.532%, 01/14/2033 (A)(B)		2,015		1,616
Marsh & McLennan
6.250%, 11/01/2052		3,045		3,378
5.450%, 03/15/2053		530		530
4.900%, 03/15/2049		3,112		2,854
4.200%, 03/01/2048		3,890		3,251
2.900%, 12/15/2051		1,175		773
Massachusetts Mutual Life Insurance
4.900%, 04/01/2077 (A)		2,690		2,289
3.729%, 10/15/2070 (A)		2,905		1,957
3.200%, 12/01/2061 (A)		615		397
Mastercard
3.950%, 02/26/2048		1,230		1,084
3.850%, 03/26/2050		7,401		6,304
3.650%, 06/01/2049		720		593
MetLife
5.875%, 02/06/2041		1,675		1,706
5.700%, 06/15/2035		6,239		6,442
5.250%, 01/15/2054		2,960		2,816
5.000%, 07/15/2052		6,480		5,892
4.875%, 11/13/2043		3,080		2,786
4.721%, 12/15/2044		2,985		2,642


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Metropolitan Life Global Funding I MTN
5.150%, 03/28/2033 (A)	$	3,520	$	3,512
Moody's
4.875%, 12/17/2048		1,891		1,738
3.750%, 02/25/2052		215		167
3.250%, 05/20/2050		770		544
2.750%, 08/19/2041		250		176
Morgan Stanley
5.948%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.430%, 01/19/2038 (B)		1,555		1,536
5.297%, U.S. SOFR + 2.620%, 04/20/2037 (B)		185		176
5.250%, U.S. SOFR + 1.870%, 04/21/2034 (B)		885		879
4.457%, TSFR3M + 1.693%, 04/22/2039 (B)		3,743		3,353
4.375%, 01/22/2047		120		105
3.217%, U.S. SOFR + 1.485%, 04/22/2042 (B)		1,720		1,285
2.484%, U.S. SOFR + 1.360%, 09/16/2036 (B)		4,520		3,411
Morgan Stanley MTN
6.375%, 07/24/2042		2,827		3,117
4.300%, 01/27/2045		10,330		8,948
3.971%, ICE LIBOR USD 3 Month + 1.455%, 07/22/2038 (B)		11,475		9,792
2.943%, U.S. SOFR + 1.290%, 01/21/2033 (B)		2,255		1,884
2.802%, U.S. SOFR + 1.430%, 01/25/2052 (B)		1,540		990
2.511%, U.S. SOFR + 1.200%, 10/20/2032 (B)		4,815		3,909
2.239%, U.S. SOFR + 1.178%, 07/21/2032 (B)		1,590		1,268
Mutual of Omaha Insurance
4.297%, ICE LIBOR USD 3 Month + 2.640%, 07/15/2054 (A)(B)		555		535
Nasdaq
3.950%, 03/07/2052		925		716
Nationwide Mutual Insurance
9.375%, 08/15/2039 (A)		1,170		1,511
4.350%, 04/30/2050 (A)		1,430		1,075
New York Life Insurance
6.750%, 11/15/2039 (A)		2,215		2,524
5.875%, 05/15/2033 (A)		2,224		2,324
3.750%, 05/15/2050 (A)		2,254		1,712
Northwestern Mutual Life Insurance
3.850%, 09/30/2047 (A)		1,238		962
3.625%, 09/30/2059 (A)		3,480		2,486
Pacific Life Insurance
4.300%, ICE LIBOR USD 3 Month + 2.796%, 10/24/2067 (A)(B)		1,350		1,017


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Pacific LifeCorp
3.350%, 09/15/2050 (A)	$	312	$	215
PayPal Holdings
3.250%, 06/01/2050		2,000		1,405
PNC Financial Services Group
6.037%, SOFRINDX + 2.140%, 10/28/2033 (B)		835		861
5.068%, U.S. SOFR + 1.933%, 01/24/2034 (B)		415		401
Progressive
3.700%, 03/15/2052		4,960		3,846
Prudential Financial
3.905%, 12/07/2047		2,280		1,769
Prudential Financial MTN
5.700%, 12/14/2036		6,384		6,701
Raymond James Financial
3.750%, 04/01/2051		2,419		1,769
S&P Global
3.900%, 03/01/2062		550		443
3.700%, 03/01/2052		2,235		1,801
3.250%, 12/01/2049		2,331		1,716
Securian Financial Group
4.800%, 04/15/2048 (A)		2,921		2,350
Societe Generale
3.625%, 03/01/2041 (A)		1,475		925
Societe Generale MTN
7.367%, 01/10/2053 (A)		4,220		4,049
Teachers Insurance & Annuity Association of America
4.900%, 09/15/2044 (A)		1,285		1,169
4.270%, 05/15/2047 (A)		2,793		2,309
3.300%, 05/15/2050 (A)		5,610		3,881
Toronto-Dominion Bank MTN
4.456%, 06/08/2032		1,345		1,272
Travelers
5.450%, 05/25/2053		5,525		5,686
5.350%, 11/01/2040		1,565		1,602
4.600%, 08/01/2043		3,870		3,534
4.100%, 03/04/2049		3,853		3,256
4.050%, 03/07/2048		1,300		1,082
Travelers MTN
6.250%, 06/15/2037		1,205		1,340
Truist Financial MTN
5.122%, U.S. SOFR + 1.852%, 01/26/2034 (B)		1,615		1,543
4.916%, U.S. SOFR + 2.240%, 07/28/2033 (B)		3,175		2,866
UBS MTN
4.500%, 06/26/2048 (A)		2,200		1,976
UBS Group
4.988%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.400%, 08/05/2033 (A)(B)		1,940		1,826


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
4.703%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.050%, 08/05/2027 (A)(B)	$	6,960	$	6,689
US Bancorp
5.850%, U.S. SOFR + 2.090%, 10/21/2033 (B)		1,520		1,533
4.839%, U.S. SOFR + 1.600%, 02/01/2034 (B)		3,260		3,060
Validus Holdings
8.875%, 01/26/2040		2,035		2,481
Visa
4.300%, 12/14/2045		9,085		8,433
2.700%, 04/15/2040		905		695
2.000%, 08/15/2050		5,410		3,303
Wachovia
7.500%, 04/15/2035		440		497
WEA Finance LLC
4.625%, 09/20/2048 (A)		2,000		1,391
Wells Fargo
7.950%, 11/15/2029		695		765
6.600%, 01/15/2038		9,325		10,278
5.950%, 08/26/2036		5,230		5,324
5.950%, 12/15/2036		1,002		998
5.850%, 02/01/2037		9,377		9,581
5.606%, 01/15/2044		986		941
3.900%, 05/01/2045		3,674		2,907
3.068%, U.S. SOFR + 2.530%, 04/30/2041 (B)		4,890		3,552
Wells Fargo MTN
5.013%, TSFR3M + 4.502%, 04/04/2051 (B)		15,262		13,965
4.900%, 11/17/2045		1,680		1,462
4.750%, 12/07/2046		5,691		4,795
4.650%, 11/04/2044		2,450		2,080
4.611%, U.S. SOFR + 2.130%, 04/25/2053 (B)		3,180		2,743
4.400%, 06/14/2046		5,835		4,717
3.350%, U.S. SOFR + 1.500%, 03/02/2033 (B)		4,885		4,196
Western & Southern Life Insurance
3.750%, 04/28/2061 (A)		695		470
Willis North America
3.875%, 09/15/2049		875		625
XL Group
5.250%, 12/15/2043		2,405		2,383

				622,235

Health Care — 12.4%
Abbott Laboratories
5.300%, 05/27/2040		1,930		2,004
4.900%, 11/30/2046		8,003		7,996


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
AbbVie
4.875%, 11/14/2048	$	275	$	255
4.850%, 06/15/2044		225		207
4.750%, 03/15/2045		5,855		5,299
4.400%, 11/06/2042		1,100		966
4.250%, 11/21/2049		7,193		6,092
4.050%, 11/21/2039		485		416
Advocate Health & Hospitals
4.272%, 08/15/2048		1,717		1,503
Aetna
4.125%, 11/15/2042		780		633
Alcon Finance
5.750%, 12/06/2052 (A)		414		427
3.800%, 09/23/2049 (A)		1,580		1,209
Allina Health System
4.805%, 11/15/2045		1,666		1,520
3.887%, 04/15/2049		1,454		1,154
Amgen
5.750%, 03/02/2063		2,280		2,266
5.650%, 03/02/2053		940		940
5.600%, 03/02/2043		855		847
4.875%, 03/01/2053		800		723
4.400%, 05/01/2045		630		534
Ascension Health
4.847%, 11/15/2053		520		502
3.945%, 11/15/2046		1,291		1,085
3.106%, 11/15/2039		3,175		2,435
AstraZeneca PLC
6.450%, 09/15/2037		1,220		1,407
4.375%, 11/16/2045		2,084		1,925
3.000%, 05/28/2051		1,173		853
Banner Health
2.907%, 01/01/2042		1,781		1,295
Baptist Health South Florida
4.342%, 11/15/2041		610		520
BayCare Health System
3.831%, 11/15/2050		1,000		819
Bayer US Finance II LLC
4.700%, 07/15/2064 (A)		1,750		1,380
4.625%, 06/25/2038 (A)		645		567
4.400%, 07/15/2044 (A)		1,585		1,268
3.950%, 04/15/2045 (A)		2,680		1,992
Baylor Scott & White Holdings
4.185%, 11/15/2045		2,636		2,296
Becton Dickinson
3.794%, 05/20/2050		1,430		1,119
Bon Secours Mercy Health
3.205%, 06/01/2050		1,100		757
Bristol-Myers Squibb
4.550%, 02/20/2048		1,614		1,476
4.250%, 10/26/2049		14,874		12,970
3.900%, 03/15/2062		2,290		1,788


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.700%, 03/15/2052	$	5,849	$	4,672
3.550%, 03/15/2042		5,410		4,438
2.350%, 11/13/2040		410		286
Carilion Clinic Obligated Group
3.147%, 07/01/2051		535		360
Children's Health Care
3.448%, 08/15/2049		815		597
Children's Hospital Medical Center
2.820%, 11/15/2050		1,180		767
Cigna Group
4.900%, 12/15/2048		1,385		1,260
4.800%, 08/15/2038		1,970		1,851
3.875%, 10/15/2047		1,450		1,123
City of Hope
5.623%, 11/15/2043		920		917
Cleveland Clinic Foundation
4.858%, 01/01/2114		1,223		1,102
CommonSpirit Health
6.461%, 11/01/2052		689		778
4.187%, 10/01/2049		3,069		2,465
3.910%, 10/01/2050		770		586
3.817%, 10/01/2049		2,535		1,937
CVS Health
6.000%, 06/01/2063		440		441
5.875%, 06/01/2053		1,845		1,853
5.050%, 03/25/2048		4,204		3,798
4.780%, 03/25/2038		1,015		939
Danaher
2.800%, 12/10/2051		1,625		1,090
Duke University Health System
3.920%, 06/01/2047		2,100		1,732
Elevance Health
6.100%, 10/15/2052		850		917
Eli Lilly
4.950%, 02/27/2063		4,109		4,080
4.875%, 02/27/2053		3,045		3,068
3.950%, 03/15/2049		3,900		3,446
GE HealthCare Technologies
6.377%, 11/22/2052 (A)		930		1,014
Gilead Sciences
4.800%, 04/01/2044		500		469
4.750%, 03/01/2046		3,267		3,056
4.500%, 02/01/2045		2,955		2,674
4.150%, 03/01/2047		1,975		1,688
2.800%, 10/01/2050		1,150		767
GlaxoSmithKline Capital
6.375%, 05/15/2038		8,439		9,686
HCA
5.250%, 06/15/2049		1,780		1,570
4.625%, 03/15/2052 (A)		580		467


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Health Care Service, A Mutual Legal Reserve
3.200%, 06/01/2050 (A)	$	2,460	$	1,721
Hoag Memorial Hospital Presbyterian
3.803%, 07/15/2052		1,385		1,117
Humana
8.150%, 06/15/2038		1,510		1,814
4.625%, 12/01/2042		705		622
Indiana University Health Obligated Group
3.970%, 11/01/2048		1,865		1,571
Johnson & Johnson
4.850%, 05/15/2041		5,652		5,690
3.750%, 03/03/2047		1,802		1,568
3.625%, 03/03/2037		790		717
3.400%, 01/15/2038		3,100		2,721
2.450%, 09/01/2060		4,550		2,882
2.100%, 09/01/2040		1,335		933
Kaiser Foundation Hospitals
4.150%, 05/01/2047		1,790		1,557
3.266%, 11/01/2049		1,910		1,404
3.002%, 06/01/2051		2,945		2,043
2.810%, 06/01/2041		6,780		4,934
Mass General Brigham
3.765%, 07/01/2048		1,000		790
3.342%, 07/01/2060		1,015		696
3.192%, 07/01/2049		2,260		1,629
Medtronic
4.375%, 03/15/2035		2,330		2,259
Memorial Health Services
3.447%, 11/01/2049		2,820		2,093
Memorial Sloan-Kettering Cancer Center
5.000%, 07/01/2042		235		231
4.125%, 07/01/2052		2,425		2,052
2.955%, 01/01/2050		489		337
Merck
5.150%, 05/17/2063		1,100		1,110
5.000%, 05/17/2053		3,640		3,663
4.900%, 05/17/2044		2,600		2,586
4.150%, 05/18/2043		2,700		2,447
4.000%, 03/07/2049		550		479
3.900%, 03/07/2039		3,385		3,008
3.700%, 02/10/2045		7,880		6,639
3.600%, 09/15/2042		750		624
2.900%, 12/10/2061		2,286		1,498
2.750%, 12/10/2051		1,325		903
2.350%, 06/24/2040		360		255
Merck Sharp & Dohme Corp
5.750%, 11/15/2036		1,200		1,293
Mount Sinai Hospitals Group
3.737%, 07/01/2049		2,700		2,028
MyMichigan Health
3.409%, 06/01/2050		2,220		1,544


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Nationwide Children's Hospital
4.556%, 11/01/2052	$	355	$	322
New York and Presbyterian Hospital
4.763%, 08/01/2116		1,705		1,441
4.063%, 08/01/2056		2,300		1,881
Northwell Healthcare
4.260%, 11/01/2047		670		548
Novant Health
3.168%, 11/01/2051		2,330		1,640
Novartis Capital
4.400%, 05/06/2044		550		519
4.000%, 11/20/2045		4,325		3,838
2.750%, 08/14/2050		2,619		1,847
NYU Langone Hospitals
5.750%, 07/01/2043		1,725		1,813
4.368%, 07/01/2047		1,645		1,421
3.380%, 07/01/2055		2,630		1,831
OhioHealth
3.042%, 11/15/2050		1,462		1,033
Orlando Health Obligated Group
3.327%, 10/01/2050		770		550
PeaceHealth Obligated Group
3.218%, 11/15/2050		4,925		3,326
Pfizer
5.600%, 09/15/2040		808		853
4.400%, 05/15/2044		1,670		1,566
4.300%, 06/15/2043		4,965		4,524
4.200%, 09/15/2048		1,120		1,002
4.100%, 09/15/2038		1,900		1,739
4.000%, 12/15/2036		2,016		1,880
3.900%, 03/15/2039		2,100		1,855
2.550%, 05/28/2040		575		417
Pfizer Investment Enterprises Pte
5.340%, 05/19/2063		8,635		8,646
5.300%, 05/19/2053		19,454		20,027
5.110%, 05/19/2043		7,000		6,957
Pharmacia LLC
6.600%, 12/01/2028		1,045		1,148
Providence St. Joseph Health Obligated Group
3.744%, 10/01/2047		1,520		1,137
Rady Children's Hospital-San Diego
3.154%, 08/15/2051		865		611
Revvity
3.625%, 03/15/2051		325		232
Roche Holdings
2.607%, 12/13/2051 (A)		700		466
RWJ Barnabas Health
3.949%, 07/01/2046		50		41
Sentara Healthcare
2.927%, 11/01/2051		805		542


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Shands Teaching Hospital and Clinics
4.741%, 12/01/2042	$	1,750	$	1,582
Sharp HealthCare
2.680%, 08/01/2050		1,500		958
Stanford Health Care
3.795%, 11/15/2048		5,307		4,300
STERIS Irish FinCo UnLtd
3.750%, 03/15/2051		325		236
Thermo Fisher Scientific
2.800%, 10/15/2041		110		81
Trinity Health
4.125%, 12/01/2045		2,392		2,062
UnitedHealth Group
6.875%, 02/15/2038		2,005		2,383
6.625%, 11/15/2037		1,080		1,238
6.500%, 06/15/2037		1,220		1,367
6.050%, 02/15/2063		1,625		1,794
5.950%, 02/15/2041		1,265		1,358
5.875%, 02/15/2053		5,456		5,966
5.800%, 03/15/2036		875		937
5.700%, 10/15/2040		385		406
4.750%, 07/15/2045		6,970		6,571
4.750%, 05/15/2052		6,135		5,755
4.625%, 07/15/2035		1,060		1,040
4.450%, 12/15/2048		12,274		11,049
4.375%, 03/15/2042		30		27
4.250%, 03/15/2043		791		710
4.250%, 04/15/2047		3,115		2,716
4.250%, 06/15/2048		7,950		6,935
4.200%, 01/15/2047		1,477		1,286
3.950%, 10/15/2042		900		765
3.750%, 10/15/2047		775		623
3.700%, 08/15/2049		1,726		1,371
3.500%, 08/15/2039		4,355		3,628
3.250%, 05/15/2051		4,315		3,148
3.050%, 05/15/2041		3,090		2,371
2.900%, 05/15/2050		1,740		1,204
2.300%, 05/15/2031		2,755		2,351
West Virginia United Health System Obligated Group
3.129%, 06/01/2050		900		597
Willis-Knighton Medical Center
4.813%, 09/01/2048		1,755		1,541
Wyeth LLC
6.500%, 02/01/2034		1,915		2,156
5.950%, 04/01/2037		17,219		18,936

				381,898

Industrials — 5.7%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300%, 01/30/2032		1,535		1,248


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Air Canada Pass-Through Trust, Ser 2013-1, Cl A
4.125%, 05/15/2025 (A)	$	295	$	277
Airbus
3.950%, 04/10/2047 (A)		2,500		2,102
American Airlines Pass-Through Trust, Ser 2016-2, Cl AA
3.200%, 06/15/2028		713		639
BAE Systems PLC
3.000%, 09/15/2050 (A)		1,200		801
Boeing
5.930%, 05/01/2060		805		785
5.805%, 05/01/2050		4,790		4,689
5.705%, 05/01/2040		915		901
Burlington Northern Santa Fe LLC
5.150%, 09/01/2043		1,335		1,316
4.900%, 04/01/2044		7,801		7,429
4.550%, 09/01/2044		3,845		3,501
4.450%, 03/15/2043		560		506
4.450%, 01/15/2053		4,329		3,927
4.400%, 03/15/2042		2,825		2,539
4.375%, 09/01/2042		265		238
4.150%, 04/01/2045		7,785		6,714
4.050%, 06/15/2048		2,665		2,252
3.300%, 09/15/2051		1,150		843
2.875%, 06/15/2052		4,260		2,880
Canadian National Railway
6.200%, 06/01/2036		6,610		7,326
4.500%, 11/07/2043		1,720		1,506
4.400%, 08/05/2052		2,416		2,191
Canadian Pacific Railway
6.125%, 09/15/2115		1,405		1,424
Caterpillar
4.750%, 05/15/2064		470		442
Crane NXT
4.200%, 03/15/2048		775		524
Cummins
2.600%, 09/01/2050		3,535		2,244
Deere
3.900%, 06/09/2042		2,200		1,972
3.750%, 04/15/2050		1,370		1,193
2.875%, 09/07/2049		1,795		1,328
Emerson Electric
2.800%, 12/21/2051		4,841		3,185
FedEx
4.050%, 02/15/2048		1,367		1,074
General Dynamics
4.250%, 04/01/2040		2,550		2,333
4.250%, 04/01/2050		2,040		1,844
Georgia-Pacific LLC
8.875%, 05/15/2031		475		590
7.250%, 06/01/2028		330		361


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Lockheed Martin
5.900%, 11/15/2063	$	3,070	$	3,426
5.700%, 11/15/2054		1,085		1,182
4.700%, 05/15/2046		550		529
4.300%, 06/15/2062		2,676		2,332
4.090%, 09/15/2052		6,647		5,728
4.070%, 12/15/2042		6,946		6,138
2.800%, 06/15/2050		3,590		2,520
Nature Conservancy
3.957%, 03/01/2052		2,170		1,789
Norfolk Southern
5.100%, 08/01/2118		1,900		1,615
4.837%, 10/01/2041		2,600		2,377
4.050%, 08/15/2052		876		712
3.700%, 03/15/2053		500		377
Parker-Hannifin
4.100%, 03/01/2047		2,404		2,015
4.000%, 06/14/2049		361		297
Raytheon Technologies
6.125%, 07/15/2038		295		321
5.375%, 02/27/2053		350		354
4.625%, 11/16/2048		415		379
4.500%, 06/01/2042		7,097		6,481
3.750%, 11/01/2046		2,039		1,621
2.820%, 09/01/2051		150		98
Rockefeller Foundation
2.492%, 10/01/2050		3,035		1,966
Rockwell Automation
4.200%, 03/01/2049		740		655
Siemens Financieringsmaatschappij
2.875%, 03/11/2041 (A)		5,090		3,856
Snap-on
4.100%, 03/01/2048		1,786		1,541
TTX
4.600%, 02/01/2049 (A)		1,642		1,442
Union Pacific
3.875%, 02/01/2055		2,135		1,705
3.839%, 03/20/2060		13,139		10,220
3.799%, 10/01/2051		435		352
3.500%, 02/14/2053		7,760		5,911
3.375%, 02/14/2042		775		617
2.973%, 09/16/2062		3,135		1,996
2.950%, 03/10/2052		14,207		9,691
Union Pacific MTN
3.550%, 08/15/2039		870		724
United Airlines Pass-Through Trust, Ser 2019-1, Cl AA
4.150%, 08/25/2031		914		844
United Parcel Service
7.620%, 04/01/2030 (C)		710		827
6.200%, 01/15/2038		4,172		4,667
5.200%, 04/01/2040		725		738


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.050%, 03/03/2053	$	8,199	$	8,190
3.625%, 10/01/2042		1,230		1,011
US Airways Pass-Through Trust, Ser 2012-1, Cl A
5.900%, 10/01/2024		463		458
Waste Connections
2.950%, 01/15/2052		500		333
WW Grainger
4.600%, 06/15/2045		1,328		1,237
4.200%, 05/15/2047		2,738		2,342

				174,738

Information Technology — 7.6%
Analog Devices
2.950%, 10/01/2051		6,442		4,517
2.800%, 10/01/2041		3,810		2,824
Apple
4.650%, 02/23/2046		10,235		10,146
4.375%, 05/13/2045		13,113		12,396
3.850%, 05/04/2043		4,875		4,333
3.850%, 08/04/2046		15,670		13,722
3.750%, 09/12/2047		6,920		5,915
3.750%, 11/13/2047		165		141
3.450%, 02/09/2045		12,250		10,294
2.950%, 09/11/2049		20		15
2.850%, 08/05/2061		2,770		1,853
2.800%, 02/08/2061		1,335		882
2.700%, 08/05/2051		3,465		2,394
2.650%, 05/11/2050		1,000		688
2.650%, 02/08/2051		12,675		8,666
2.375%, 02/08/2041		1,460		1,072
Applied Materials
4.350%, 04/01/2047		1,521		1,409
Broadcom
4.926%, 05/15/2037 (A)		2,080		1,871
3.137%, 11/15/2035 (A)		1,500		1,144
2.600%, 02/15/2033 (A)		200		155
Cisco Systems
5.900%, 02/15/2039		3,985		4,383
5.500%, 01/15/2040		2,094		2,207
Deutsche Telekom International Finance
9.250%, 06/01/2032		2,192		2,798
Intel
5.700%, 02/10/2053		7,785		7,690
5.625%, 02/10/2043		340		340
5.050%, 08/05/2062		1,530		1,359
4.900%, 08/05/2052		8,075		7,270
4.750%, 03/25/2050		1,815		1,595
4.600%, 03/25/2040		2,270		2,084
4.100%, 05/11/2047		1,786		1,456
3.734%, 12/08/2047		13,464		10,263
3.250%, 11/15/2049		3,575		2,441


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
International Business Machines
4.900%, 07/27/2052	$	435	$	397
4.250%, 05/15/2049		3,725		3,129
4.150%, 05/15/2039		530		464
4.000%, 06/20/2042		1,740		1,454
KLA
4.950%, 07/15/2052		5,552		5,359
Kyndryl Holdings
4.100%, 10/15/2041		850		546
Lam Research
2.875%, 06/15/2050		2,873		1,975
Microsoft
3.700%, 08/08/2046		3,493		3,046
3.500%, 02/12/2035		1,221		1,153
3.450%, 08/08/2036		4,350		3,977
3.041%, 03/17/2062		11,948		8,657
2.921%, 03/17/2052		19,824		14,669
2.675%, 06/01/2060		4,360		2,915
2.525%, 06/01/2050		23,022		15,847
NVIDIA
3.500%, 04/01/2040		2,770		2,344
3.500%, 04/01/2050		2,160		1,733
Oracle
6.900%, 11/09/2052		150		163
5.550%, 02/06/2053		1,040		971
4.375%, 05/15/2055		1,610		1,244
4.125%, 05/15/2045		2,570		1,982
4.000%, 07/15/2046		4,164		3,120
3.950%, 03/25/2051		757		555
3.800%, 11/15/2037		4,215		3,425
3.600%, 04/01/2040		4,893		3,705
3.600%, 04/01/2050		200		138
QUALCOMM
4.500%, 05/20/2052		2,330		2,073
4.300%, 05/20/2047		4,880		4,321
Salesforce
3.050%, 07/15/2061		1,250		824
2.900%, 07/15/2051		4,600		3,159
2.700%, 07/15/2041		2,040		1,473
Sprint Capital
8.750%, 03/15/2032		329		400
Texas Instruments
5.050%, 05/18/2063		5,090		4,977
5.000%, 03/14/2053		2,475		2,470
4.150%, 05/15/2048		1,825		1,621
TSMC Arizona
3.250%, 10/25/2051		1,950		1,474

				234,083

Materials — 1.0%
Barrick North America Finance LLC
5.750%, 05/01/2043		1,570		1,602


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Barrick PD Australia Finance Pty
5.950%, 10/15/2039	$	1,245	$	1,296
BHP Billiton Finance USA
6.420%, 03/01/2026		1,320		1,364
5.000%, 09/30/2043		6,220		6,115
Dow Chemical
6.900%, 05/15/2053		535		596
Ecolab
2.750%, 08/18/2055		2,757		1,718
2.700%, 12/15/2051		7,985		5,156
International Flavors & Fragrances
5.000%, 09/26/2048		795		661
3.468%, 12/01/2050 (A)		4,255		2,796
3.268%, 11/15/2040 (A)		480		331
2.300%, 11/01/2030 (A)		1,625		1,290
Nutrien
5.800%, 03/27/2053		810		797
Packaging Corp of America
3.050%, 10/01/2051		440		286
Rio Tinto Finance USA
5.200%, 11/02/2040		2,502		2,510
5.125%, 03/09/2053		1,150		1,140
2.750%, 11/02/2051		5,135		3,407
Sherwin-Williams
2.900%, 03/15/2052		250		156

				31,221

Real Estate — 1.2%
Alexandria Real Estate Equities
5.150%, 04/15/2053		2,295		2,023
4.850%, 04/15/2049		210		174
3.550%, 03/15/2052		790		532
2.950%, 03/15/2034		225		179
American Homes 4 Rent
4.300%, 04/15/2052		1,445		1,091
3.375%, 07/15/2051		300		192
American Tower
2.950%, 01/15/2051		641		396
AvalonBay Communities MTN
4.350%, 04/15/2048		220		183
Crown Castle
4.150%, 07/01/2050		500		388
3.250%, 01/15/2051		312		208
ERP Operating
4.500%, 06/01/2045		900		754
Invitation Homes Operating Partnership
2.700%, 01/15/2034		460		348
Kilroy Realty
2.650%, 11/15/2033		455		301
Kimco Realty OP LLC
3.700%, 10/01/2049		1,485		1,033


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Nationwide Health Properties MTN
6.900%, 10/01/2037	$	1,600	$	1,695
Prologis
5.250%, 06/15/2053		3,112		3,036
3.000%, 04/15/2050		65		44
2.125%, 10/15/2050		4,225		2,359
Realty Income
4.650%, 03/15/2047		1,193		1,046
Regency Centers LP
4.650%, 03/15/2049		1,326		1,104
4.400%, 02/01/2047		490		393
Scentre Group Trust 2
5.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.685%, 09/24/2080 (A)(B)		1,880		1,588
4.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.379%, 09/24/2080 (A)(B)		1,250		1,128
Simon Property Group LP
6.750%, 02/01/2040		2,365		2,573
5.850%, 03/08/2053		5,199		5,148
4.250%, 11/30/2046		2,295		1,801
3.800%, 07/15/2050		1,400		1,031
3.250%, 09/13/2049		2,330		1,537
Ventas Realty
5.700%, 09/30/2043		850		799
VICI Properties
5.625%, 05/15/2052		1,320		1,163
Welltower OP LLC
5.125%, 03/15/2043		1,085		932
Weyerhaeuser
4.000%, 03/09/2052		1,020		797

				35,976

Utilities — 15.2%
AEP Transmission LLC
5.400%, 03/15/2053		845		859
4.000%, 12/01/2046		5,703		4,768
3.800%, 06/15/2049		1,880		1,494
3.650%, 04/01/2050		1,460		1,122
3.150%, 09/15/2049		1,760		1,229
2.750%, 08/15/2051		405		257
Alabama Power
5.500%, 03/15/2041		648		628
5.200%, 06/01/2041		155		146
4.300%, 07/15/2048		1,420		1,191
3.850%, 12/01/2042		5,809		4,738
3.700%, 12/01/2047		1,500		1,149
Ameren Illinois
5.900%, 12/01/2052		1,032		1,117
3.700%, 12/01/2047		4,450		3,562
3.250%, 03/15/2050		50		36


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.900%, 06/15/2051	$	3,724	$	2,486
American Transmission Systems
5.000%, 09/01/2044 (A)		400		372
American Water Capital
3.750%, 09/01/2047		1,475		1,154
3.450%, 05/01/2050		150		110
Appalachian Power
6.700%, 08/15/2037		50		54
5.800%, 10/01/2035		125		127
4.500%, 03/01/2049		700		588
Arizona Public Service
5.050%, 09/01/2041		50		46
4.500%, 04/01/2042		312		262
4.350%, 11/15/2045		1,735		1,388
4.250%, 03/01/2049		450		355
4.200%, 08/15/2048		1,200		935
Atmos Energy
4.125%, 10/15/2044		2,805		2,354
Avista
4.350%, 06/01/2048		1,430		1,245
4.000%, 04/01/2052		1,345		1,058
Baltimore Gas and Electric
5.400%, 06/01/2053		2,256		2,260
5.200%, 06/15/2033		1,230		1,212
3.500%, 08/15/2046		4,995		3,773
2.900%, 06/15/2050		1,095		730
Berkshire Hathaway Energy
4.600%, 05/01/2053		1,320		1,169
4.450%, 01/15/2049		2,740		2,381
4.250%, 10/15/2050		4,960		4,161
3.800%, 07/15/2048		11,090		8,703
Black Hills
4.200%, 09/15/2046		1,135		881
Boston Gas
4.487%, 02/15/2042 (A)		250		209
CenterPoint Energy Houston Electric LLC
5.300%, 04/01/2053		350		355
4.500%, 04/01/2044		500		448
4.250%, 02/01/2049		1,760		1,536
3.950%, 03/01/2048		500		409
3.600%, 03/01/2052		810		623
3.350%, 04/01/2051		695		520
2.900%, 07/01/2050		885		595
Commonwealth Edison
5.300%, 02/01/2053		2,440		2,447
4.700%, 01/15/2044		5,643		5,176
4.600%, 08/15/2043		2,070		1,882
4.000%, 03/01/2048		2,515		2,086
4.000%, 03/01/2049		1,185		972
3.750%, 08/15/2047		2,705		2,136
3.700%, 03/01/2045		6,700		5,252
3.125%, 03/15/2051		3,770		2,617


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Connecticut Light & Power
5.250%, 01/15/2053	$	1,250	$	1,254
4.150%, 06/01/2045		3,030		2,546
4.000%, 04/01/2048		2,712		2,253
Consolidated Edison of New York
6.750%, 04/01/2038		1,915		2,172
6.200%, 06/15/2036		65		70
6.150%, 11/15/2052		2,400		2,581
5.700%, 06/15/2040		40		40
4.500%, 05/15/2058		930		775
3.950%, 03/01/2043		5,480		4,478
3.950%, 04/01/2050		2,755		2,213
3.875%, 06/15/2047		5,147		4,016
3.850%, 06/15/2046		3,427		2,660
3.700%, 11/15/2059		850		610
3.000%, 12/01/2060		1,700		1,056
Consumers Energy
4.350%, 04/15/2049		4,823		4,226
4.200%, 09/01/2052		790		673
3.500%, 08/01/2051		1,250		943
2.500%, 05/01/2060		373		213
Dominion Energy
5.250%, 08/01/2033		20		20
4.600%, 03/15/2049		1,754		1,485
Dominion Energy South Carolina
5.100%, 06/01/2065		1,230		1,181
DTE Electric
5.400%, 04/01/2053		770		782
3.950%, 06/15/2042		80		64
3.700%, 03/15/2045		4,320		3,434
Duke Energy Carolinas LLC
6.450%, 10/15/2032		110		120
6.050%, 04/15/2038		2,285		2,446
6.000%, 01/15/2038		2,166		2,308
5.350%, 01/15/2053		1,232		1,232
5.300%, 02/15/2040		6,675		6,734
4.250%, 12/15/2041		6,605		5,731
4.000%, 09/30/2042		11,285		9,337
3.875%, 03/15/2046		1,570		1,261
3.550%, 03/15/2052		715		542
Duke Energy Florida LLC
6.400%, 06/15/2038		2,370		2,636
5.950%, 11/15/2052		1,806		1,958
3.400%, 10/01/2046		2,040		1,514
Duke Energy Florida Project Finance LLC
3.112%, 09/01/2036		3,970		3,260
Duke Energy Indiana LLC
6.450%, 04/01/2039		4,275		4,698
6.350%, 08/15/2038		1,555		1,738
4.900%, 07/15/2043		835		787
3.750%, 05/15/2046		750		582
3.250%, 10/01/2049		3,110		2,195


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.750%, 04/01/2050	$	1,885	$	1,209
Duke Energy Ohio
4.300%, 02/01/2049		670		555
Duke Energy Progress LLC
4.375%, 03/30/2044		2,880		2,507
4.200%, 08/15/2045		3,505		2,927
4.150%, 12/01/2044		975		810
4.100%, 03/15/2043		860		723
3.600%, 09/15/2047		1,850		1,409
East Ohio Gas
3.000%, 06/15/2050 (A)		1,375		881
Electricite de France
6.000%, 01/22/2114 (A)		417		369
Elm Road Generating Station Supercritical
5.848%, 01/19/2041 (A)		1,000		1,010
Entergy Arkansas LLC
4.200%, 04/01/2049		1,635		1,358
3.350%, 06/15/2052		2,745		1,938
Entergy Louisiana LLC
4.200%, 09/01/2048		1,030		856
4.200%, 04/01/2050		1,445		1,196
4.000%, 03/15/2033		1,260		1,157
3.100%, 06/15/2041		3,395		2,541
2.900%, 03/15/2051		3,840		2,516
Entergy Texas
3.550%, 09/30/2049		1,400		1,028
Essential Utilities
5.300%, 05/01/2052		900		843
4.276%, 05/01/2049		2,420		1,952
Evergy Kansas Central
3.450%, 04/15/2050		930		668
Evergy Metro
5.300%, 10/01/2041		150		146
4.200%, 06/15/2047		500		411
4.200%, 03/15/2048		1,000		823
Exelon
4.950%, 06/15/2035		1,415		1,366
4.700%, 04/15/2050		700		608
Florida Power & Light
5.960%, 04/01/2039		2,280		2,451
5.690%, 03/01/2040		4,978		5,277
5.650%, 02/01/2037		1,000		1,048
4.800%, 05/15/2033		1,250		1,250
4.050%, 06/01/2042		2,400		2,069
4.050%, 10/01/2044		2,065		1,754
3.950%, 03/01/2048		2,940		2,450
3.800%, 12/15/2042		3,605		3,003
3.700%, 12/01/2047		1,900		1,527
2.450%, 02/03/2032		990		829
Georgia Power
4.300%, 03/15/2042		5,330		4,538


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Gulf Power
4.550%, 10/01/2044	$	700	$	622
Idaho Power
4.200%, 03/01/2048		1,615		1,357
Idaho Power MTN
5.500%, 03/15/2053		1,675		1,717
Indiana Michigan Power
5.625%, 04/01/2053		1,330		1,359
4.550%, 03/15/2046		780		674
4.250%, 08/15/2048		1,090		911
Indianapolis Power & Light
4.650%, 06/01/2043 (A)		1,750		1,449
International Transmission
4.625%, 08/15/2043		2,525		2,133
Jersey Central Power & Light
6.150%, 06/01/2037		775		818
John Sevier Combined Cycle Generation
4.626%, 01/15/2042		4,087		3,933
Kentucky Utilities
3.300%, 06/01/2050		710		500
KeySpan Gas East
5.819%, 04/01/2041 (A)		2,117		2,050
MidAmerican Energy
4.800%, 09/15/2043		5,260		4,930
4.400%, 10/15/2044		4,685		4,165
4.250%, 05/01/2046		1,675		1,433
3.950%, 08/01/2047		575		473
3.650%, 08/01/2048		3,095		2,412
3.150%, 04/15/2050		2,025		1,439
MidAmerican Energy MTN
5.800%, 10/15/2036		635		682
5.750%, 11/01/2035		640		677
Narragansett Electric
4.170%, 12/10/2042 (A)		1,000		796
National Rural Utilities Cooperative Finance
4.400%, 11/01/2048		2,200		1,866
4.300%, 03/15/2049		3,643		3,050
4.023%, 11/01/2032		402		374
Nevada Power
5.900%, 05/01/2053		1,150		1,247
Niagara Mohawk Power
5.783%, 09/16/2052 (A)		575		575
4.278%, 10/01/2034 (A)		2,303		2,057
4.119%, 11/28/2042 (A)		2,000		1,595
3.025%, 06/27/2050 (A)		500		324
NiSource
5.800%, 02/01/2042		900		876
Northern States Power
6.250%, 06/01/2036		5,255		5,729
6.200%, 07/01/2037		4,450		4,824
4.500%, 06/01/2052		1,430		1,285
3.600%, 05/15/2046		500		388


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.400%, 08/15/2042	$	214	$	168
3.200%, 04/01/2052		825		590
NSTAR Electric
4.950%, 09/15/2052		1,859		1,785
4.550%, 06/01/2052		565		507
3.100%, 06/01/2051		2,625		1,806
Oglethorpe Power
5.375%, 11/01/2040		1,840		1,717
5.250%, 09/01/2050		835		774
4.500%, 04/01/2047		1,215		1,000
4.250%, 04/01/2046		1,360		1,012
4.200%, 12/01/2042		2,975		2,273
Ohio Edison
8.250%, 10/15/2038		655		788
Oklahoma Gas and Electric
5.600%, 04/01/2053		805		807
Oncor Electric Delivery LLC
5.350%, 10/01/2052		811		823
5.300%, 06/01/2042		414		422
5.250%, 09/30/2040		3,696		3,663
4.950%, 09/15/2052		520		498
4.600%, 06/01/2052		400		361
4.550%, 12/01/2041		3,780		3,491
4.100%, 11/15/2048		750		635
3.800%, 06/01/2049		4,650		3,742
3.700%, 05/15/2050		1,540		1,224
3.100%, 09/15/2049		75		53
2.700%, 11/15/2051		2,075		1,347
Pacific Gas and Electric
6.750%, 01/15/2053		3,390		3,322
4.500%, 07/01/2040		1,235		957
4.450%, 04/15/2042		1,465		1,109
4.200%, 06/01/2041		505		376
3.750%, 08/15/2042		95		64
PacifiCorp
6.250%, 10/15/2037		3,760		4,080
6.000%, 01/15/2039		4,975		5,191
5.500%, 05/15/2054		755		763
5.350%, 12/01/2053		1,900		1,881
4.100%, 02/01/2042		1,960		1,659
3.300%, 03/15/2051		820		583
2.900%, 06/15/2052		1,900		1,243
PECO Energy
4.800%, 10/15/2043		1,505		1,374
4.600%, 05/15/2052		1,435		1,302
3.050%, 03/15/2051		1,919		1,314
Pennsylvania Electric
6.150%, 10/01/2038		100		100
Piedmont Natural Gas
4.650%, 08/01/2043		1,330		1,169
3.640%, 11/01/2046		1,300		934


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
PPL Electric Utilities
5.250%, 05/15/2053	$	505	$	506
4.750%, 07/15/2043		2,820		2,627
4.125%, 06/15/2044		3,025		2,559
3.950%, 06/01/2047		2,425		2,022
Public Service Electric and Gas MTN
5.500%, 03/01/2040		1,900		1,949
5.125%, 03/15/2053		1,340		1,329
4.150%, 11/01/2045		2,106		1,719
4.050%, 05/01/2048		2,176		1,844
4.000%, 06/01/2044		945		768
3.800%, 03/01/2046		450		360
3.650%, 09/01/2042		1,290		1,040
3.600%, 12/01/2047		3,780		2,928
3.200%, 08/01/2049		3,265		2,388
Public Service of Colorado
6.500%, 08/01/2038		40		45
6.250%, 09/01/2037		1,235		1,352
5.250%, 04/01/2053		855		845
4.750%, 08/15/2041		40		35
4.500%, 06/01/2052		3,280		2,900
4.300%, 03/15/2044		1,460		1,275
4.100%, 06/15/2048		475		395
4.050%, 09/15/2049		1,500		1,230
3.950%, 03/15/2043		4,380		3,497
3.200%, 03/01/2050		1,185		855
Public Service of New Hampshire
5.150%, 01/15/2053		425		423
3.600%, 07/01/2049		1,665		1,283
Puget Sound Energy
5.795%, 03/15/2040		130		131
4.223%, 06/15/2048		2,470		2,079
2.893%, 09/15/2051		2,315		1,526
San Diego Gas & Electric
6.000%, 06/01/2026		340		352
4.100%, 06/15/2049		1,340		1,098
3.750%, 06/01/2047		2,380		1,858
3.320%, 04/15/2050		4,654		3,340
Sempra Energy
4.000%, 02/01/2048		350		272
Southern California Edison
5.950%, 02/01/2038		280		291
4.650%, 10/01/2043		2,480		2,165
4.125%, 03/01/2048		4,250		3,420
4.050%, 03/15/2042		5,355		4,299
4.000%, 04/01/2047		2,635		2,069
3.650%, 02/01/2050		370		275
Southern California Gas
6.350%, 11/15/2052		1,445		1,596
5.750%, 06/01/2053		1,340		1,358
4.300%, 01/15/2049		1,235		1,031
4.125%, 06/01/2048		2,865		2,314


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.750%, 09/15/2042	$	2,350	$	1,861
Southern Gas Capital
5.875%, 03/15/2041		100		102
4.400%, 06/01/2043		825		681
4.400%, 05/30/2047		50		41
3.950%, 10/01/2046		800		613
Southwest Gas
3.180%, 08/15/2051		1,065		681
Southwestern Electric Power
6.200%, 03/15/2040		1,204		1,240
3.850%, 02/01/2048		3,860		2,881
3.250%, 11/01/2051		300		197
Southwestern Public Service
5.150%, 06/01/2052		440		405
4.500%, 08/15/2041		8,995		7,927
3.700%, 08/15/2047		1,060		805
Tampa Electric
4.350%, 05/15/2044		1,225		1,038
3.625%, 06/15/2050		1,704		1,259
3.450%, 03/15/2051		600		427
Tucson Electric Power
4.850%, 12/01/2048		1,835		1,642
4.000%, 06/15/2050		235		184
3.250%, 05/01/2051		1,500		1,010
Union Electric
5.450%, 03/15/2053		1,925		1,934
Virginia Electric and Power
8.875%, 11/15/2038		1,982		2,656
6.350%, 11/30/2037		2,485		2,689
5.450%, 04/01/2053		2,680		2,628
4.650%, 08/15/2043		6,145		5,405
4.600%, 12/01/2048		3,310		2,907
4.450%, 02/15/2044		6,785		5,807
4.000%, 01/15/2043		300		245
4.000%, 11/15/2046		1,108		878
2.950%, 11/15/2051		400		262
2.450%, 12/15/2050		540		321
Wisconsin Electric Power
3.650%, 12/15/2042		2,310		1,734
Wisconsin Power & Light
4.100%, 10/15/2044		325		258
3.650%, 04/01/2050		360		271
Wisconsin Public Service
2.850%, 12/01/2051		800		529
Xcel Energy
4.800%, 09/15/2041		1,907		1,698

				468,681

Total Corporate Obligations
(Cost $3,029,936) ($ Thousands)				2,576,706


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS — 6.5%
U.S. Treasury Bills
5.177%, 10/19/2023 (D)	$	2,520	$	2,469
5.049%, 08/31/2023 (D)		35		34
4.912%, 10/12/2023 (D)		2,330		2,285
4.863%, 10/05/2023 (D)		4,070		3,996
U.S. Treasury Bonds
3.875%, 02/15/2043		13,270		13,025
3.875%, 05/15/2043		16,455		16,157
3.625%, 02/15/2053		67,720		65,043
3.625%, 05/15/2053		11,935		11,484
3.375%, 08/15/2042		20,096		18,362
3.250%, 05/15/2042 (E)		32,660		29,334
3.000%, 08/15/2052		11,621		9,876
2.375%, 02/15/2042 (E)		12,132		9,488
2.250%, 08/15/2046		2,640		1,934
1.750%, 08/15/2041		3,015		2,127
U.S. Treasury Notes
3.375%, 05/15/2033		16,350		16,000

Total U.S. Treasury Obligations
(Cost $202,737) ($ Thousands)				201,614



MUNICIPAL BONDS — 5.4%
Alabama — 0.0%
Alabama State, Federal Aid Highway Finance Authority, Ser B, RB
2.650%, 09/01/2037		1,075		848


California — 2.5%
Bay Area, Toll Authority, Build America Project, RB
6.263%, 04/01/2049		3,795		4,454
California State University, Ser B, RB
3.899%, 11/01/2047		2,375		2,077
2.719%, 11/01/2052		890		623
California State, Build America Project, GO
7.625%, 03/01/2040		2,510		3,143
7.600%, 11/01/2040		385		488
7.550%, 04/01/2039		1,535		1,934
7.500%, 04/01/2034		14,945		18,345
7.300%, 10/01/2039		9,875		11,920
California State, Health Facilities Financing Authority, RB
4.353%, 06/01/2041		1,975		1,798
3.000%, 08/15/2051		390		290
East Bay, Municipal Utility District Water System Revenue, RB
5.874%, 06/01/2040		1,255		1,410
Los Angeles County, Metropolitan Transportation Authority, RB
5.735%, 06/01/2039		960		1,039


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Los Angeles, Community College District, Build America Project, GO
6.750%, 08/01/2049	$	1,025	$	1,279
Los Angeles, Community College District, Ser D, GO
6.680%, 08/01/2036		500		587
Los Angeles, Department of Airports, RB
3.887%, 05/15/2038		1,430		1,272
Los Angeles, Department of Water & Power, RB
5.716%, 07/01/2039		5,210		5,616
Los Angeles, Unified School District, Build America Project, Ser RY, GO
6.758%, 07/01/2034		3,950		4,499
Regents of the University of California Medical Center, RB
4.563%, 05/15/2053		2,395		2,183
Regents of the University of California Medical Center, Ser N, RB
3.256%, 05/15/2060		1,975		1,356
3.006%, 05/15/2050		2,005		1,384
San Diego County, Water Authority, Build America Project, RB
6.138%, 05/01/2049		1,000		1,141
San Francisco Bay Area, Rapid Transit District, GO
3.000%, 08/01/2049		665		516
San Francisco, Public Utilities Commission, Water Revenue, Build America Project, Ser DE, RB
6.000%, 11/01/2040		1,000		1,089
San Francisco, Public Utilities Commission, Water Revenue, Ser E, RB
2.825%, 11/01/2041		340		260
San Jose, Redevelopment Agency, Ser A-T, TA
3.375%, 08/01/2034		1,250		1,135
University of California, RB
5.946%, 05/15/2045		4,795		5,180
University of California, Ser AP, RB
3.931%, 05/15/2045		950		853
University of California, Ser AQ, RB
4.767%, 05/15/2115		1,076		940
University of California, Ser J, RB
4.131%, 05/15/2045		1,000		893

				77,704

District of Columbia — 0.0%
District of Columbia, Water & Sewer Authority, RB
4.814%, 10/01/2114		530		497


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Georgia — 0.1%
Georgia State, Municipal Electric Authority, Build America Project, RB
7.055%, 04/01/2057	$	1,993	$	2,052
6.637%, 04/01/2057		135		147

				2,199

Illinois — 0.1%
Greater Chicago, Metropolitan Water Reclamation District, GO
5.720%, 12/01/2038		3,205		3,492


Kansas — 0.1%
Kansas State, Development Finance Authority, Ser H, RB
4.727%, 04/15/2037		2,890		2,814


Massachusetts — 0.2%
Massachusetts State, Build America Project, GO
5.456%, 12/01/2039		3,085		3,294
Massachusetts State, Educational Financing Authority, Ser A, RB
3.105%, 07/01/2030		1,695		1,502
Massachusetts State, School Building Authority, Sub-Ser A, RB
2.500%, 02/15/2037		1,120		862
Massachusetts State, School Building Authority, Sub-Ser B, RB
3.395%, 10/15/2040		1,000		829

				6,487

Michigan — 0.1%
University of Michigan, Ser C, RB
3.599%, 04/01/2047		2,525		2,170


Missouri — 0.0%
Missouri State, Health & Educational Facilities Authority, Ser A, RB
3.685%, 02/15/2047		675		536


New Jersey — 0.1%
New Jersey State, Turnpike Authority, Build America Project, RB
7.102%, 01/01/2041		2,460		2,987
New Jersey State, Turnpike Authority, Ser F, RB
3.729%, 01/01/2036		1,000		897

				3,884


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
New York — 1.0%
New York & New Jersey, Port Authority, RB
4.926%, 10/01/2051	$	245	$	244
4.458%, 10/01/2062		3,160		2,858
New York & New Jersey, Port Authority, Ser 181, RB
4.960%, 08/01/2046		465		456
New York City, Build America Project, GO
5.985%, 12/01/2036		1,340		1,444
New York City, Municipal Water Finance Authority, Build America Project, RB
6.011%, 06/15/2042		750		846
5.882%, 06/15/2044		500		554
5.724%, 06/15/2042		3,720		4,074
5.440%, 06/15/2043		3,000		3,165
New York City, Transitional Finance Authority, Future Tax Secured Revenue, Build America Project, RB
5.572%, 11/01/2038		2,475		2,602
New York City, Transitional Finance Authority, Future Tax Secured Revenue, RB
5.767%, 08/01/2036		3,820		4,040
5.508%, 08/01/2037		1,890		1,979
New York State, Dormitory Authority, RB
5.628%, 03/15/2039		1,385		1,445
New York State, Dormitory Authority, Ser F, RB
3.110%, 02/15/2039		4,220		3,481
New York State, Urban Development, Build America Project, RB
5.770%, 03/15/2039		1,970		2,061
New York State, Urban Development, Ser B, RB
2.590%, 03/15/2035		810		636

				29,885

Ohio — 0.2%
JobsOhio Beverage System, Ser A, RB
2.833%, 01/01/2038		460		369
Ohio State University, Build America Project, GO
4.910%, 06/01/2040		2,265		2,254
Ohio State University, Ser A, RB
4.048%, 12/01/2056		1,650		1,379
Ohio State, Hospital Facilities Revenue Authority, Cleveland Clinic, RB
3.700%, 01/01/2043		970		811

				4,813


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Pennsylvania — 0.1%
Pennsylvania State, Financing Authority, Ser A, RB
4.144%, 06/01/2038	$	2,865	$	2,609


Texas — 0.8%
Dallas County, Hospital District, Build America Project, Ser C, GO
5.621%, 08/15/2044		2,250		2,413
Dallas Fort Worth, International Airport, Ser A, RB
2.994%, 11/01/2038		4,520		3,804
Grand Parkway, Transportation Corp, Ser E, RB
5.184%, 10/01/2042		325		333
Houston, GO
3.961%, 03/01/2047		1,500		1,328
North Texas, Tollway Authority, Build America Project, RB
6.718%, 01/01/2049		2,220		2,745
North Texas, Tollway Authority, RB
3.079%, 01/01/2042		1,170		888
San Antonio, Electric & Gas Systems Revenue, RB
5.808%, 02/01/2041		2,800		3,055
Texas State, Build America Project, GO
5.517%, 04/01/2039		3,925		4,142
University of Texas, Build America Bonds, RB
5.262%, 07/01/2039		4,540		4,667
University of Texas, Ser B, RB
2.439%, 08/15/2049		2,220		1,460

				24,835

Virginia — 0.0%
Virginia Commonwealth University, Health System Authority, Ser A, RB
4.956%, 01/01/2044		475		454


Washington — 0.1%
Washington State, Build America Project, GO
5.140%, 08/01/2040		2,495		2,573



Total Municipal Bonds
(Cost $187,406) ($ Thousands)				165,800


Description	Face Amount (Thousands)		Market Value ($ Thousands)
SOVEREIGN DEBT — 0.3%

Chile Government International Bond
3.500%, 01/25/2050	$	1,630	$	1,204
3.100%, 05/07/2041		5,640		4,215
Israel Government International Bond
4.125%, 01/17/2048		1,225		1,031
3.875%, 07/03/2050		3,175		2,548

Total Sovereign Debt
(Cost $11,667) ($ Thousands)				8,998


	Shares
CASH EQUIVALENT — 0.6%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		19,278,872		19,279

Total Cash Equivalent
(Cost $19,279) ($ Thousands)				19,279


Total Investments in Securities — 96.4%
(Cost $3,451,025) ($ Thousands)			$	2,972,397

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open centrally cleared swap contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $3,081,833 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $186,520 ($ Thousands), representing 6.1% of the Net Assets of the Fund.
(B)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(C)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(D)	Interest rate represents the security's effective yield at the time of purchase.
(E)	Security, or portion thereof, has been pledged as collateral on Futures contracts. The total market value of such securities as of May 31, 2023 was $3,509 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Corporate Obligations

–

2,576,706

–

2,576,706

U.S. Treasury Obligations

–

201,614

–

201,614

Municipal Bonds

–

165,800

–

165,800

Sovereign Debt

–

8,998

–

8,998

Cash Equivalent

19,279

–

19,279

Total Investments in Securities

19,279

2,953,118

–

2,972,397

Other Financial Instruments

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Futures Contracts*

Unrealized Appreciation

665

–

665

Unrealized Depreciation

(682

)

–

(682

)

Centrally Cleared Swaps

Interest Rate Swaps*

Unrealized Appreciation

–

Total Other Financial Instruments

(17

)

–

*	Futures contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†

Percentages based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 34.3%
Communication Services — 1.3%
AT&T
5.539%, 02/20/2026	$	300	$	300
Take-Two Interactive Software
3.300%, 03/28/2024		550		539
Verizon Communications
5.728%, SOFRINDX + 0.790%, 03/20/2026 (A)		1,200		1,201
5.464%, SOFRINDX + 0.500%, 03/22/2024 (A)		1,200		1,199
Warnermedia Holdings
3.428%, 03/15/2024		1,320		1,292

				4,531

Consumer Discretionary — 2.5%
Daimler Truck Finance North America LLC
6.006%, U.S. SOFR + 1.000%, 04/05/2024 (A)(B)		750		750
5.673%, U.S. SOFR + 0.750%, 12/13/2024 (A)(B)		1,125		1,124
General Motors Financial
5.660%, U.S. SOFR + 0.620%, 10/15/2024 (A)		4,160		4,128
5.643%, U.S. SOFR + 0.760%, 03/08/2024 (A)		1,000		996
1.200%, 10/15/2024		750		706


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Nordstrom
2.300%, 04/08/2024	$	530	$	506

				8,210

Consumer Staples — 2.5%
BAT Capital
3.222%, 08/15/2024		2,560		2,485
CommonSpirit Health
4.200%, 08/01/2023		1,460		1,457
Conagra Brands
0.500%, 08/11/2023		675		668
Haleon US Capital LLC
3.024%, 03/24/2024		735		718
JDE Peet's
0.800%, 09/24/2024 (B)		1,000		932
Keurig Dr Pepper
0.750%, 03/15/2024		2,090		2,013

				8,273

Energy — 2.7%
Enbridge
5.738%, SOFRINDX + 0.630%, 02/16/2024 (A)		1,400		1,398
Energy Transfer
5.875%, 01/15/2024		1,740		1,740
Kinder Morgan Energy Partners
4.300%, 05/01/2024		1,660		1,637
Ovintiv
5.650%, 05/15/2025		500		499
Saudi Arabian Oil MTN
2.875%, 04/16/2024 (B)		1,895		1,852
Williams
5.400%, 03/02/2026		140		141
4.300%, 03/04/2024		1,680		1,662

				8,929

Financials — 15.1%
American Express
4.990%, U.S. SOFR + 0.999%, 05/01/2026 (A)		325		324
0.750%, 11/03/2023		2,475		2,427
Athene Global Funding
5.810%, SOFRINDX + 0.700%, 05/24/2024 (A)(B)		1,820		1,799
5.731%, SOFRINDX + 0.715%, 01/07/2025 (A)(B)		800		781
Banco Santander
3.892%, 05/24/2024		600		588
Bank of America
5.764%, U.S. SOFR + 0.690%, 04/22/2025 (A)		1,600		1,590


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Bank of America MTN
5.765%, U.S. SOFR + 0.660%, 02/04/2025 (A)	$	950	$	947
1.843%, U.S. SOFR + 0.670%, 02/04/2025 (A)		2,255		2,193
Bank of New York Mellon MTN
5.148%, U.S. SOFR + 1.067%, 05/22/2026 (A)		250		250
Bank of Nova Scotia
5.461%, U.S. SOFR + 0.380%, 07/31/2024 (A)		1,375		1,371
Banque Federative du Credit Mutuel
4.935%, 01/26/2026 (B)		350		347
4.524%, 07/13/2025 (B)		475		465
BPCE
5.029%, 01/15/2025 (B)		440		433
Brighthouse Financial Global Funding MTN
5.791%, U.S. SOFR + 0.760%, 04/12/2024 (A)(B)		1,080		1,069
Capital One Financial
5.802%, U.S. SOFR + 0.690%, 12/06/2024 (A)		800		782
4.985%, U.S. SOFR + 2.160%, 07/24/2026 (A)		250		245
Citigroup
5.759%, U.S. SOFR + 0.694%, 01/25/2026 (A)		650		643
5.754%, U.S. SOFR + 0.669%, 05/01/2025 (A)		800		798
Citizens Bank
4.119%, U.S. SOFR + 1.395%, 05/23/2025 (A)		400		374
CNA Financial
7.250%, 11/15/2023		500		502
Corebridge Financial
3.500%, 04/04/2025 (B)		385		368
Credit Suisse NY
5.478%, SOFRINDX + 0.390%, 02/02/2024 (A)		3,855		3,779
0.520%, 08/09/2023		1,375		1,356
Danske Bank
6.466%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.100%, 01/09/2026 (A)(B)		450		451
Deutsche Bank NY
6.327%, U.S. SOFR + 1.219%, 11/16/2027 (A)		1,100		1,004
5.605%, U.S. SOFR + 0.500%, 11/08/2023 (A)		1,150		1,146
Equitable Financial Life Global Funding
5.500%, 12/02/2025 (B)		395		395


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
GA Global Funding Trust
5.400%, U.S. SOFR + 0.500%, 09/13/2024 (A)(B)	$	2,275	$	2,225
Goldman Sachs Group
5.762%, U.S. SOFR + 0.700%, 01/24/2025 (A)		800		797
5.394%, U.S. SOFR + 0.500%, 09/10/2024 (A)		550		548
1.757%, U.S. SOFR + 0.730%, 01/24/2025 (A)		2,695		2,619
HSBC Holdings PLC
7.336%, U.S. SOFR + 3.030%, 11/03/2026 (A)		400		417
5.688%, U.S. SOFR + 0.580%, 11/22/2024 (A)		825		816
Huntington National Bank
4.008%, U.S. SOFR + 1.205%, 05/16/2025 (A)		345		325
Jackson Financial
1.125%, 11/22/2023		825		808
JPMorgan Chase
5.947%, U.S. SOFR + 0.885%, 04/22/2027 (A)		1,600		1,592
3.845%, U.S. SOFR + 0.980%, 06/14/2025 (A)		2,545		2,494
Macquarie Group MTN
5.747%, U.S. SOFR + 0.710%, 10/14/2025 (A)(B)		825		816
Manufacturers & Traders Trust
5.400%, 11/21/2025		400		389
4.650%, 01/27/2026		590		562
Mitsubishi UFJ Financial Group
4.788%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.700%, 07/18/2025 (A)		600		594
Morgan Stanley
5.050%, U.S. SOFR + 1.295%, 01/28/2027 (A)		350		349
3.620%, U.S. SOFR + 1.160%, 04/17/2025 (A)		2,720		2,665
National Securities Clearing
5.150%, 05/30/2025 (B)		325		326
Nationwide Building Society
0.550%, 01/22/2024 (B)		750		726
NatWest Markets
5.636%, U.S. SOFR + 0.530%, 08/12/2024 (A)(B)		1,265		1,257
Principal Life Global Funding II
5.490%, U.S. SOFR + 0.380%, 08/23/2024 (A)(B)		900		897
5.481%, U.S. SOFR + 0.450%, 04/12/2024 (A)(B)		430		430


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Societe Generale
6.109%, U.S. SOFR + 1.050%, 01/21/2026 (A)(B)	$	800	$	793
4.351%, 06/13/2025 (B)		525		512
Standard Chartered
7.776%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 3.100%, 11/16/2025 (A)(B)		400		411
6.170%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.050%, 01/09/2027 (A)(B)		450		453

				50,248

Health Care — 3.7%
AbbVie
2.600%, 11/21/2024		2,140		2,060
Amgen
5.250%, 03/02/2025		275		276
Cigna Group
3.750%, 07/15/2023		2,175		2,169
GE HealthCare Technologies
5.550%, 11/15/2024 (B)		500		499
Humana
0.650%, 08/03/2023		1,575		1,564
Illumina
5.800%, 12/12/2025		400		405
Pfizer Investment Enterprises Pte
4.650%, 05/19/2025		2,190		2,185
Royalty Pharma PLC
0.750%, 09/02/2023		1,450		1,431
Thermo Fisher Scientific
5.573%, SOFRINDX + 0.530%, 10/18/2024 (A)		1,660		1,662

				12,251

Industrials — 1.0%
AerCap Ireland Capital DAC
5.674%, U.S. SOFR + 0.680%, 09/29/2023 (A)		1,325		1,321
Boeing
1.950%, 02/01/2024		750		733
DAE Funding LLC MTN
1.550%, 08/01/2024 (B)		965		913
Penske Truck Leasing Lp
5.750%, 05/24/2026 (B)		325		324

				3,291

Information Technology — 2.0%
Hewlett Packard Enterprise
5.900%, 10/01/2024		1,600		1,604
Microchip Technology
0.972%, 02/15/2024		610		589


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Skyworks Solutions
0.900%, 06/01/2023	$	1,610	$	1,610
TD SYNNEX
1.250%, 08/09/2024		1,375		1,297
VMware
1.000%, 08/15/2024		1,785		1,686

				6,786

Materials — 0.6%
Celanese US Holdings LLC
5.900%, 07/05/2024		475		474
Martin Marietta Materials
0.650%, 07/15/2023		495		492
Nutrien
5.900%, 11/07/2024		235		236
Sherwin-Williams
4.050%, 08/08/2024		325		320
Vulcan Materials
5.800%, 03/01/2026		625		627

				2,149

Utilities — 2.9%
American Electric Power
5.779%, ICE LIBOR USD 3 Month + 0.480%, 11/01/2023 (A)		1,300		1,299
5.699%, 08/15/2025		450		448
CenterPoint Energy
5.756%, SOFRINDX + 0.650%, 05/13/2024 (A)		625		623
Edison International
3.550%, 11/15/2024		375		364
Mississippi Power
5.288%, U.S. SOFR + 0.300%, 06/28/2024 (A)		740		734
NextEra Energy Capital Holdings
6.051%, 03/01/2025		255		258
Pacific Gas and Electric
3.250%, 02/16/2024		625		613
1.700%, 11/15/2023		525		514
Public Service Enterprise Group
0.841%, 11/08/2023		3,205		3,142
Southern California Edison
5.830%, SOFRINDX + 0.830%, 04/01/2024 (A)		1,215		1,211
Tampa Electric
3.875%, 07/12/2024		475		467

				9,673

Total Corporate Obligations
(Cost $115,726) ($ Thousands)				114,341


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES — 27.9%
Automotive — 13.8%

American Credit Acceptance Receivables Trust, Ser 2023-1, Cl A
5.450%, 09/14/2026 (B)	$	461	$	459
American Credit Acceptance Receivables Trust, Ser 2023-2, Cl A
5.890%, 10/13/2026 (B)		235		234
AmeriCredit Automobile Receivables Trust, Ser 2020-2, Cl C
1.480%, 02/18/2026		2,145		2,062
ARI Fleet Lease Trust, Ser 2021-A, Cl A2
0.370%, 03/15/2030 (B)		269		267
Capital One Prime Auto Receivables Trust 2022-2, Ser 2022-2, Cl A2A
3.740%, 09/15/2025		531		525
Carmax Auto Owner Trust 2021-1, Ser 2021-1, Cl B
0.740%, 10/15/2026		300		274
CarMax Auto Owner Trust 2023-1, Ser 2023-1, Cl A2A
5.230%, 01/15/2026		710		706
Carmax Auto Owner Trust, Ser 2019-3, Cl C
2.600%, 06/16/2025		675		668
Carmax Auto Owner Trust, Ser 2021-1, Cl A3
0.340%, 12/15/2025		534		517
Carmax Auto Owner Trust, Ser 2021-2, Cl A3
0.520%, 02/17/2026		355		343
Carmax Auto Owner Trust, Ser 2023-2, Cl A2A
5.500%, 06/15/2026		1,250		1,245
Carvana Auto Receivables Trust, Ser 2021-N1, Cl A
0.700%, 01/10/2028		827		780
Carvana Auto Receivables Trust, Ser 2021-N2, Cl A1
0.320%, 03/10/2028		11		11
Carvana Auto Receivables Trust, Ser 2021-N2, Cl B
0.750%, 03/10/2028		158		146
Carvana Auto Receivables Trust, Ser 2021-N3, Cl B
0.660%, 06/12/2028		341		312
Carvana Auto Receivables Trust, Ser 2021-N4, Cl A1
0.830%, 09/11/2028		220		214
Carvana Auto Receivables Trust, Ser 2021-P3, Cl A2
0.380%, 01/10/2025		13		13
CFMT LLC, Ser 2021-AL1, Cl B
1.390%, 09/22/2031 (B)		605		580


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Chesapeake Funding II LLC, Ser 2021-1A, Cl A2
5.337%, ICE LIBOR USD 1 Month + 0.230%, 04/15/2033 (A)(B)	$	291	$	290
Chesapeake Funding II LLC, Ser 2023-1A, Cl A1
5.650%, 05/15/2035 (B)		499		497
CPS Auto Receivables Trust 2023-A, Ser 2023-A, Cl A
5.540%, 03/16/2026 (B)		675		672
CPS Auto Receivables Trust, Ser 2022-A, Cl A
0.980%, 04/16/2029 (B)		410		406
CPS Auto Receivables Trust, Ser 2023-B, Cl A
5.910%, 08/16/2027 (B)		381		381
Credit Acceptance Auto Loan Trust, Ser 2021-3A, Cl A
1.000%, 05/15/2030 (B)		570		555
Donlen Fleet Lease Funding II LLC, Ser 2021-2, Cl A2
0.560%, 12/11/2034 (B)		665		647
DT Auto Owner Trust, Ser 2021-2A, Cl B
0.810%, 01/15/2027 (B)		286		283
DT Auto Owner Trust, Ser 2021-4A, Cl A
0.560%, 09/15/2025 (B)		324		322
DT Auto Owner Trust, Ser 2023-1A, Cl A
5.480%, 04/15/2027 (B)		600		597
DT Auto Owner Trust, Ser 2023-2A, Cl A
5.880%, 04/15/2027 (B)		532		530
Enterprise Fleet Financing LLC, Ser 2020-1, Cl A2
1.780%, 12/22/2025 (B)		16		16
Enterprise Fleet Financing LLC, Ser 2021-2, Cl A2
0.480%, 05/20/2027 (B)		272		261
Enterprise Fleet Financing LLC, Ser 2022-2, Cl A2
4.650%, 05/21/2029 (B)		1,663		1,639
Enterprise Fleet Financing LLC, Ser 2022-3, Cl A2
4.380%, 07/20/2029 (B)		80		78
Enterprise Fleet Financing LLC, Ser 2023-1, Cl A2
5.510%, 01/22/2029 (B)		285		284
Enterprise Fleet Financing LLC, Ser 2023-2, Cl A1
5.793%, 06/20/2024 (B)		337		337
Enterprise Fleet Financing LLC, Ser 2023-2, Cl A2
5.560%, 04/22/2030 (B)		530		531


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Enterprise Fleet Funding LLC, Ser 2021-1, Cl A2
0.440%, 12/21/2026 (B)	$	113	$	110
Exeter Automobile Receivables Trust, Ser 2022-4A, Cl A2
3.990%, 08/15/2024		18		18
Exeter Automobile Receivables Trust, Ser 2023-1A, Cl A2
5.610%, 06/16/2025		180		180
Exeter Automobile Receivables Trust, Ser 2023-2A, Cl A3
5.600%, 08/17/2026		210		209
FHF Trust, Ser 2021-2A, Cl A
0.830%, 12/15/2026 (B)		211		200
FHF Trust, Ser 2022-1A, Cl A
4.430%, 01/18/2028 (B)		415		405
First Investors Auto Owner Trust, Ser 2021-1A, Cl A
0.450%, 03/16/2026 (B)		96		95
First Investors Auto Owner Trust, Ser 2022-1A, Cl A
2.030%, 01/15/2027 (B)		418		407
Flagship Credit Auto Trust, Ser 2021-2, Cl B
0.930%, 06/15/2027 (B)		755		727
Flagship Credit Auto Trust, Ser 2021-3, Cl A
0.360%, 07/15/2027 (B)		190		185
Flagship Credit Auto Trust, Ser 2022-2, Cl A2
3.280%, 08/15/2025 (B)		560		556
Flagship Credit Auto Trust, Ser 2023-2, Cl A2
5.760%, 04/15/2027 (B)		350		349
Ford Credit Auto Lease Trust 2023-A, Ser 2023-A, Cl A2A
5.190%, 06/15/2025		355		353
Ford Credit Auto Owner Trust, Ser 2018-1, Cl A
3.190%, 07/15/2031 (B)		605		583
Ford Credit Auto Owner Trust, Ser 2020-REV1, Cl A
2.040%, 08/15/2031 (B)		1,900		1,795
Foursight Capital Automobile Receivables Trust 2023-1, Ser 2023-1, Cl A2
5.430%, 10/15/2026 (B)		395		392
Foursight Capital Automobile Receivables Trust, Ser 2021-2, Cl A3
0.810%, 05/15/2026 (B)		166		163
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl A2
1.150%, 09/15/2025 (B)		66		65
GLS Auto Receivables Issuer Trust, Ser 2021-2A, Cl B
0.770%, 09/15/2025 (B)		227		226


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
GLS Auto Receivables Issuer Trust, Ser 2023-1A, Cl A2
5.980%, 08/17/2026 (B)	$	785	$	784
GLS Auto Receivables Issuer Trust, Ser 2023-2A, Cl A2
5.700%, 01/15/2027 (B)		235		234
GM Financial Automobile Leasing Trust, Ser 2023-2, Cl A2A
5.440%, 10/20/2025		640		639
GTE Auto Receivables Trust 2023-1, Ser 2023-1, Cl A2
5.650%, 08/17/2026 (B)		1,420		1,414
Harley-Davidson Motorcycle Trust 2023-A, Ser 2023-A, Cl A2A
5.320%, 06/15/2026		975		970
Honda Auto Receivables Owner Trust, Ser 2023-2, Cl A2
5.410%, 04/15/2026		545		545
Hyundai Auto Lease Securitization Trust, Ser 2023-A, Cl A3
5.050%, 01/15/2026 (B)		335		333
Hyundai Auto Lease Securitization Trust, Ser 2023-B, Cl A2A
5.470%, 09/15/2025 (B)		205		204
Hyundai Auto Receivables Trust, Ser 2022-A, Cl A3
2.220%, 10/15/2026		175		168
JPMorgan Chase Bank - CACLN, Ser 2020-1, Cl B
0.991%, 01/25/2028 (B)		88		87
LAD Auto Receivables Trust 2023-1, Ser 2023-1A, Cl A1
4.929%, 02/15/2024 (B)		209		209
LAD Auto Receivables Trust, Ser 2022-1A, Cl A
5.210%, 06/15/2027 (B)		244		242
Lendbuzz Securitization Trust, Ser 2021-1A, Cl A
1.460%, 06/15/2026 (B)		546		522
Lendbuzz Securitization Trust, Ser 2023-1A, Cl A1
5.383%, 03/15/2024 (B)		163		163
Mercedes-Benz Auto Receivables Trust 2023-1, Ser 2023-1, Cl A2
5.090%, 01/15/2026		895		891
Nissan Auto Receivables Owner Trust, Ser 2023-A, Cl A2A
5.340%, 02/17/2026		210		209
OneMain Direct Auto Receivables Trust 2019-1, Ser 2019-1A, Cl A
3.630%, 09/14/2027 (B)		385		372


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Prestige Auto Receivables Trust 2023-1, Ser 2023-1A, Cl B
5.550%, 04/15/2027 (B)	$	1,665	$	1,653
Santander Bank Auto Credit-Linked Notes, Ser 2022-B, Cl B
5.721%, 08/16/2032 (B)		949		942
Santander Bank Auto Credit-Linked Notes, Ser 2022-C, Cl B
6.451%, 12/15/2032 (B)		356		355
Santander Consumer Auto Receivables Trust, Ser 2020-BA, Cl B
0.770%, 12/15/2025 (B)		235		233
Santander Drive Auto Receivables Trust 2023-1, Ser 2023-1, Cl A2
5.360%, 05/15/2026		500		498
Santander Drive Auto Receivables Trust, Ser 2021-1, Cl C
0.750%, 02/17/2026		602		597
Santander Drive Auto Receivables Trust, Ser 2021-3, Cl B
0.600%, 12/15/2025		53		53
Santander Drive Auto Receivables Trust, Ser 2021-4, Cl C
1.260%, 02/16/2027		1,600		1,532
Santander Drive Auto Receivables Trust, Ser 2022-3, Cl A2
2.760%, 03/17/2025		49		49
Santander Drive Auto Receivables Trust, Ser 2022-5, Cl A2
3.980%, 01/15/2025		52		52
Santander Drive Auto Receivables Trust, Ser 2022-5, Cl A3
4.110%, 08/17/2026		450		445
Tricolor Auto Securitization Trust, Ser 2022-1A, Cl A
3.300%, 02/18/2025 (B)		109		108
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl A
6.480%, 08/17/2026 (B)		240		239
UNIFY Auto Receivables Trust, Ser 2021-1A, Cl A3
0.510%, 06/16/2025 (B)		123		123
United Auto Credit Securitization Trust, Ser 2022-1, Cl B
2.100%, 03/10/2025 (B)		462		459
United Auto Credit Securitization Trust, Ser 2022-2, Cl A
4.390%, 04/10/2025 (B)		323		322
United Auto Credit Securitization Trust, Ser 2023-1, Cl A
5.570%, 07/10/2025 (B)		273		272


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Volkswagen Auto Lease Trust, Ser 2022-A, Cl A3
3.440%, 07/21/2025	$	1,290	$	1,264
Westlake Automobile Receivables Trust 2023-2, Ser 2023-2A, Cl A3
5.800%, 02/16/2027 (B)		985		988
Westlake Automobile Receivables Trust, Ser 2021-1A, Cl B
0.640%, 03/16/2026 (B)		395		393
Westlake Automobile Receivables Trust, Ser 2021-2A, Cl A2A
0.320%, 04/15/2025 (B)		31		31
Westlake Automobile Receivables Trust, Ser 2021-2A, Cl B
0.620%, 07/15/2026 (B)		485		476
Westlake Automobile Receivables Trust, Ser 2023-1A, Cl A2A
5.510%, 06/15/2026 (B)		480		478
Westlake Automobile Receivables Trust, Ser 2023-2A, Cl A2A
5.870%, 07/15/2026 (B)		960		958
World Omni Select Auto Trust, Ser 2023-A, Cl A2A
5.920%, 03/15/2027		650		650
				45,856

Credit Cards — 0.7%

CARDS II Trust, Ser 2021-1A, Cl A
0.602%, 04/15/2027 (B)		1,100		1,051
Evergreen Credit Card Trust Series, Ser 2022-CRT1, Cl B
5.610%, 07/15/2026 (B)		675		668
Master Credit Card Trust, Ser 2021-1A, Cl A
0.530%, 11/21/2025 (B)		235		224
Synchrony Card Funding LLC, Ser 2022-A1, Cl A
3.370%, 04/15/2028		525		508
				2,451

Mortgage Related Securities — 0.0%

Accredited Mortgage Loan Trust, Ser 2004-4, Cl A1A
5.059%, ICE LIBOR USD 1 Month + 0.680%, 01/25/2035 (A)		50		49


Other Asset-Backed Securities — 13.4%

Affirm Asset Securitization Trust 2023-A, Ser 2023-A, Cl 1A
6.610%, 01/18/2028 (B)		340		339
Affirm Asset Securitization Trust, Ser 2020-Z1, Cl A
3.460%, 10/15/2024 (B)		19		19


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Affirm Asset Securitization Trust, Ser 2020-Z2, Cl A
1.900%, 01/15/2025 (B)	$	64	$	63
Affirm Asset Securitization Trust, Ser 2021-B, Cl A
1.030%, 08/17/2026 (B)		740		715
Affirm Asset Securitization Trust, Ser 2021-Z1, Cl A
1.070%, 08/15/2025 (B)		368		357
Affirm Asset Securitization Trust, Ser 2021-Z2, Cl A
1.170%, 11/16/2026 (B)		190		184
Affirm Asset Securitization Trust, Ser 2022-X1, Cl A
1.750%, 02/15/2027 (B)		294		286
Amur Equipment Finance Receivables IX LLC, Ser 2021-1A, Cl A2
0.750%, 11/20/2026 (B)		340		331
Amur Equipment Finance Receivables XI LLC, Ser 2022-2A, Cl A2
5.300%, 06/21/2028 (B)		231		229
Apidos CLO XII, Ser 2018-12A, Cl AR
6.340%, ICE LIBOR USD 3 Month + 1.080%, 04/15/2031 (A)(B)		925		914
Aqua Finance Trust, Ser 2021-A, Cl A
1.540%, 07/17/2046 (B)		307		274
Atalaya Equipment Leasing Trust, Ser 2021-1A, Cl A2
1.230%, 05/15/2026 (B)		193		189
Avant Loans Funding Trust, Ser 2021-REV1, Cl A
1.210%, 07/15/2030 (B)		610		596
Benefit Street Partners CLO XII, Ser 2021-12A, Cl A1R
6.210%, ICE LIBOR USD 3 Month + 0.950%, 10/15/2030 (A)(B)		1,133		1,119
BHG Securitization Trust 2022-C, Ser 2022-C, Cl A
5.320%, 10/17/2035 (B)		141		139
BHG Securitization Trust, Ser 2022-A, Cl A
1.710%, 02/20/2035 (B)		706		675
BHG Securitization Trust, Ser 2022-B, Cl A
3.750%, 06/18/2035 (B)		504		495
BSPRT Issuer, Ser 2022-FL8, Cl A
6.372%, SOFR30A + 1.500%, 02/15/2037 (A)(B)		825		806
Carbone CLO, Ser 2017-1A, Cl A1
6.390%, ICE LIBOR USD 3 Month + 1.140%, 01/20/2031 (A)(B)		341		337
Carlyle Global Market Strategies CLO, Ser 2018-1A, Cl A1R2
6.230%, ICE LIBOR USD 3 Month + 0.970%, 04/17/2031 (A)(B)		997		985


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Carlyle Global Market Strategies CLO, Ser 2021-1A, Cl AR3
6.230%, ICE LIBOR USD 3 Month + 0.980%, 07/20/2031 (A)(B)	$	993	$	980
CCG Receivables Trust 2023-1, Ser 2023-1, Cl A2
5.820%, 09/16/2030 (B)		515		518
CCG Receivables Trust, Ser 2021-1, Cl A2
0.300%, 06/14/2027 (B)		81		79
CIFC Funding, Ser 2017-1A, Cl ARR
6.383%, ICE LIBOR USD 3 Month + 1.110%, 01/22/2031 (A)(B)		750		742
CIFC Funding, Ser 2018-3A, Cl AR
6.135%, ICE LIBOR USD 3 Month + 0.870%, 04/19/2029 (A)(B)		738		730
CNH Equipment Trust, Ser 2023-A, Cl A2
5.340%, 09/15/2026		865		862
DB Master Finance LLC, Ser 2019-1A, Cl A2II
4.021%, 05/20/2049 (B)		1,107		1,042
Dell Equipment Finance Trust, Ser 2021-2, Cl A3
0.530%, 12/22/2026 (B)		925		903
Dell Equipment Finance Trust, Ser 2022-2, Cl A2
4.030%, 07/22/2027 (B)		416		410
Dext ABS LLC, Ser 2021-1, Cl A
1.120%, 02/15/2028 (B)		231		222
DLLAD LLC, Ser 2021-1A, Cl A3
0.640%, 09/21/2026 (B)		450		424
DLLAD LLC, Ser 2023-1A, Cl A2
5.190%, 04/20/2026 (B)		435		431
DLLMT LLC, Ser 2023-1A, Cl A2
5.780%, 11/20/2025 (B)		460		459
FCI Funding LLC, Ser 2021-1A, Cl A
1.130%, 04/15/2033 (B)		99		94
Ford Credit Floorplan Master Owner Trust A, Ser 2019-2, Cl B
3.250%, 04/15/2026		1,290		1,256
GreatAmerica Leasing Receivables, Ser 2023-1, Cl A2
5.350%, 02/16/2026 (B)		870		867
Hilton Grand Vacations Trust, Ser 2020-AA, Cl A
2.740%, 02/25/2039 (B)		1,057		991
HPEFS Equipment Trust, Ser 2021-2A, Cl B
0.610%, 09/20/2028 (B)		535		523
HPEFS Equipment Trust, Ser 2022-3A, Cl A3
5.430%, 08/20/2029 (B)		475		474
John Deere Owner Trust 2023, Ser 2023-A, Cl A2
5.280%, 03/16/2026		400		399


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
KKR CLO 21, Ser 2018-21, Cl A
6.260%, ICE LIBOR USD 3 Month + 1.000%, 04/15/2031 (A)(B)	$	775	$	767
KKR CLO, Ser 2017-11, Cl AR
6.440%, ICE LIBOR USD 3 Month + 1.180%, 01/15/2031 (A)(B)		725		717
Kubota Credit Owner Trust, Ser 2020-2A, Cl A3
0.590%, 10/15/2024 (B)		67		65
LCM XXIV, Ser 2021-24A, Cl AR
6.230%, ICE LIBOR USD 3 Month + 0.980%, 03/20/2030 (A)(B)		873		863
Madison Park Funding XVII, Ser 2021-17A, Cl AR2
6.261%, ICE LIBOR USD 3 Month + 1.000%, 07/21/2030 (A)(B)		1,638		1,621
Magnetite VIII, Ser 2018-8A, Cl AR2
6.240%, ICE LIBOR USD 3 Month + 0.980%, 04/15/2031 (A)(B)		673		667
Marlette Funding Trust 2023-1, Ser 2023-1A, Cl A
6.070%, 04/15/2033 (B)		604		602
Marlette Funding Trust, Ser 2021-3A, Cl A
0.650%, 12/15/2031 (B)		26		25
Marlette Funding Trust, Ser 2022-1A, Cl A
1.360%, 04/15/2032 (B)		246		244
Marlette Funding Trust, Ser 2022-3A, Cl A
5.180%, 11/15/2032 (B)		169		168
Marlette Funding Trust, Ser 2023-2A, Cl A
6.040%, 06/15/2033 (B)		575		573
MF1, Ser 2022-FL8, Cl A
6.273%, SOFR30A + 1.350%, 02/19/2037 (A)(B)		750		734
MMAF Equipment Finance LLC, Ser 2020-BA, Cl A2
0.380%, 08/14/2023 (B)		–		–
MMAF Equipment Finance LLC, Ser 2021-A, Cl A3
0.560%, 06/13/2028 (B)		169		158
Navient Private Education Refi Loan Trust, Ser 2019-GA, Cl A
2.400%, 10/15/2068 (B)		311		289
Navient Private Education Refi Loan Trust, Ser 2020-DA, Cl A
1.690%, 05/15/2069 (B)		788		714
Navient Private Education Refi Loan Trust, Ser 2021-A, Cl A
0.840%, 05/15/2069 (B)		380		333
Neuberger Berman Loan Advisers CLO 26, Ser 2021-26A, Cl AR
6.182%, ICE LIBOR USD 3 Month + 0.920%, 10/18/2030 (A)(B)		1,132		1,117


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Nyctl Trust, Ser 2022-A, Cl A
2.100%, 11/10/2034 (B)	$	371	$	357
OCP CLO, Ser 2018-5A, Cl A1R
6.348%, ICE LIBOR USD 3 Month + 1.080%, 04/26/2031 (A)(B)		300		297
Octagon Investment Partners 30, Ser 2021-1A, Cl A1R
6.250%, ICE LIBOR USD 3 Month + 1.000%, 03/17/2030 (A)(B)		643		636
OHA Credit Funding 3, Ser 2021-3A, Cl XR
5.850%, ICE LIBOR USD 3 Month + 0.600%, 07/02/2035 (A)(B)		94		94
OneMain Financial Issuance Trust 2018-2, Ser 2018-2A, Cl A
3.570%, 03/14/2033 (B)		370		364
OZLM VII, Ser 2018-7RA, Cl A1R
6.270%, ICE LIBOR USD 3 Month + 1.010%, 07/17/2029 (A)(B)		473		469
OZLM VIII, Ser 2021-8A, Cl A1R3
6.240%, ICE LIBOR USD 3 Month + 0.980%, 10/17/2029 (A)(B)		541		536
PFS Financing, Ser 2020-A, Cl A
1.270%, 06/15/2025 (B)		620		619
PFS Financing, Ser 2020-G, Cl A
0.970%, 02/15/2026 (B)		958		923
PFS Financing, Ser 2021-B, Cl A
0.770%, 08/15/2026 (B)		900		846
SCF Equipment Leasing LLC, Ser 2022-1A, Cl A2
2.060%, 02/22/2028 (B)		532		521
Sierra Timeshare Receivables Funding LLC, Ser 2018-2A, Cl A
3.500%, 06/20/2035 (B)		113		112
SoFi Consumer Loan Program Trust, Ser 2021-1, Cl A
0.490%, 09/25/2030 (B)		135		133
SoFi Consumer Loan Program Trust, Ser 2023-1S, Cl A
5.810%, 05/15/2031 (B)		1,433		1,430
SOUND POINT CLO XVII, Ser 2021-3A, Cl A1R
6.230%, ICE LIBOR USD 3 Month + 0.980%, 10/20/2030 (A)(B)		722		704
Symphony CLO XVIII, Ser 2021-18A, Cl X
6.023%, ICE LIBOR USD 3 Month + 0.750%, 07/23/2033 (A)(B)		417		415
Symphony Static CLO I, Ser 2021-1A, Cl A
6.085%, ICE LIBOR USD 3 Month + 0.830%, 10/25/2029 (A)(B)		920		907
Upstart Securitization Trust, Ser 2021-2, Cl A
0.910%, 06/20/2031 (B)		60		59


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Upstart Securitization Trust, Ser 2021-4, Cl A
0.840%, 09/20/2031 (B)	$	234	$	229
Verizon Master Trust, Ser 2022-7, Cl A1A
5.230%, 11/22/2027		1,775		1,772
Vibrant CLO VI, Ser 2021-6A, Cl AR
5.913%, ICE LIBOR USD 3 Month + 0.950%, 06/20/2029 (A)(B)		491		485
Volvo Financial Equipment LLC Series, Ser 2020-1A, Cl A3
0.510%, 10/15/2024 (B)		167		165
Voya CLO, Ser 2017-1A, Cl A1R
6.162%, ICE LIBOR USD 3 Month + 0.900%, 01/18/2029 (A)(B)		442		438
Voya CLO, Ser 2018-2A, Cl A1R
6.299%, TSFR3M + 1.232%, 04/25/2031 (A)(B)		950		937
				44,563

Total Asset-Backed Securities
(Cost $94,422) ($ Thousands)				92,919


MORTGAGE-BACKED SECURITIES — 20.3%
Agency Mortgage-Backed Obligations — 5.5%
FHLMC
5.125%, 01/27/2025		950		941
5.080%, 10/25/2024		1,800		1,784
4.050%, 07/21/2025 to 08/28/2025		3,540		3,462
4.000%, 12/30/2024 to 02/28/2025		3,420		3,347
2.250%, 03/25/2025		2,150		2,046
FHLMC ARM
3.677%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.091%, 02/01/2030(A)		4		4
FHLMC CMO, Ser 2012-4030, Cl AN
1.750%, 04/15/2027		196		188
FHLMC CMO, Ser 2013-4272, Cl YG
2.000%, 11/15/2026		125		123
FHLMC CMO, Ser 2014-4379, Cl CB
2.250%, 04/15/2033		79		76
FHLMC CMO, Ser 2014-4387, Cl DA
3.000%, 01/15/2032		18		18
FHLMC CMO, Ser 2017-4721, Cl HV
3.500%, 09/15/2030		126		125
FHLMC CMO, Ser 2018-4818, Cl BD
3.500%, 03/15/2045		288		279
FHLMC Multifamily Structured Pass Through Certificates, Ser K043, Cl A2
3.062%, 12/25/2024		2,215		2,147


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC Multifamily Structured Pass Through Certificates, Ser KW07, Cl A1
3.600%, 07/25/2028	$	978	$	953
FHLMC Multifamily Structured Pass-Through Certificates, Ser KPLB, Cl A
2.770%, 05/25/2025		705		677
FNMA
6.000%, 01/01/2027 to 04/01/2040		74		78
5.500%, 12/01/2023		–		–
5.000%, 02/01/2024 to 03/01/2025		–		–
3.000%, 10/01/2030		242		233
FNMA ARM
4.465%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.215%, 01/01/2029(A)		3		3
4.245%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.120%, 11/01/2025(A)		–		–
4.146%, ICE LIBOR USD 6 Month + 1.843%, 09/01/2024(A)		3		3
4.057%, ICE LIBOR USD 6 Month + 1.774%, 09/01/2024(A)		1		1
4.045%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.045%, 05/01/2028(A)		–		–
FNMA CMO, Ser 2001-33, Cl FA
5.588%, ICE LIBOR USD 1 Month + 0.450%, 07/25/2031(A)		3		3
FNMA CMO, Ser 2002-64, Cl FG
5.361%, ICE LIBOR USD 1 Month + 0.250%, 10/18/2032(A)		–		–
FNMA CMO, Ser 2012-137, Cl UE
1.750%, 09/25/2041		153		143
FNMA CMO, Ser 2013-97, Cl KA
3.000%, 11/25/2031		20		19
FNMA CMO, Ser 2016-99, Cl H
3.000%, 08/25/2043		589		567
FNMA, Ser 2017-M13, Cl FA
5.359%, LIBOR USD 1 Month + 0.400%, 10/25/2024(A)		44		43
FREMF 2015-K49 Mortgage Trust, Ser K49, Cl B
3.725%, 10/25/2048(A)(B)		750		719
FREMF Mortgage Trust, Ser K37, Cl B
4.584%, 01/25/2047(A)(B)		125		123
GNMA CMO, Ser 2015-56, Cl LB
1.500%, 04/16/2040		114		112


				18,217
Non-Agency Mortgage-Backed Obligations — 14.8%
Angel Oak Mortgage Trust I LLC, Ser 2019-4, Cl A1
2.993%, 07/26/2049(A)(B)		–		–


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Angel Oak Mortgage Trust, Ser 2020-1, Cl A1
2.466%, 12/25/2059(A)(B)	$	31	$	29
Angel Oak Mortgage Trust, Ser 2020-2, Cl A1A
2.531%, 01/26/2065(A)(B)		225		207
Angel Oak Mortgage Trust, Ser 2020-3, Cl A1
1.691%, 04/25/2065(A)(B)		311		283
Angel Oak Mortgage Trust, Ser 2020-4, Cl A1
1.469%, 06/25/2065(A)(B)		185		169
Angel Oak Mortgage Trust, Ser 2020-R1, Cl A1
0.990%, 04/25/2053(A)(B)		236		213
Angel Oak Mortgage Trust, Ser 2021-1, Cl A1
0.909%, 01/25/2066(A)(B)		595		495
Angel Oak Mortgage Trust, Ser 2021-3, Cl A1
1.068%, 05/25/2066(A)(B)		483		398
Angel Oak Mortgage Trust, Ser 2021-5, Cl A1
0.951%, 07/25/2066(A)(B)		817		672
Arroyo Mortgage Trust, Ser 2019-3, Cl A1
2.962%, 10/25/2048(A)(B)		139		127
Banc of America Mortgage Securities, Ser 2005-F, Cl 2A2
3.932%, 07/25/2035(A)		33		30
Banc of America Mortgage Securities, Ser 2005-J, Cl 2A1
3.903%, 11/25/2035(A)		6		5
BBCMS Mortgage Trust, Ser 2017-DELC, Cl A
6.082%, LIBOR USD 1 Month + 0.975%, 08/15/2036(A)(B)		595		594
BBCMS Mortgage Trust, Ser 2020-C8, Cl A1
0.601%, 10/15/2053		383		364
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2005-3, Cl 2A1
4.799%, 06/25/2035(A)		19		19
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2005-6, Cl 3A1
4.704%, 08/25/2035(A)		40		36
Benchmark Mortgage Trust, Ser 2020-B17, Cl A2
2.211%, 03/15/2053		285		266
BFLD Trust, Ser 2020-OBRK, Cl A
7.224%, TSFR1M + 2.164%, 11/15/2028(A)(B)		840		834
BPR Trust, Ser 2021-TY, Cl A
6.157%, ICE LIBOR USD 1 Month + 1.050%, 09/15/2038(A)(B)		1,000		945


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
BRAVO Residential Funding Trust, Ser 2020-NQM1, Cl A1
1.449%, 05/25/2060(A)(B)	$	126	$	118
BRAVO Residential Funding Trust, Ser 2021-NQM1, Cl A1
0.941%, 02/25/2049(A)(B)		251		219
BRAVO Residential Funding Trust, Ser 2021-NQM2, Cl A1
0.970%, 03/25/2060(A)(B)		197		183
BRAVO Residential Funding Trust, Ser 2021-NQM3, Cl A1
1.699%, 04/25/2060(A)(B)		397		350
Bunker Hill Loan Depositary Trust, Ser 2020-1, Cl A1
1.724%, 02/25/2055(A)(B)		125		119
BWay Mortgage Trust, Ser 2013-1515, Cl A1
2.809%, 03/10/2033(B)		188		179
BX Commercial Mortgage Trust, Ser 2019-XL, Cl B
6.254%, TSFR1M + 1.194%, 10/15/2036(A)(B)		977		966
BX Commercial Mortgage Trust, Ser 2019-XL, Cl A
6.094%, TSFR1M + 1.034%, 10/15/2036(A)(B)		731		726
BX Commercial Mortgage Trust, Ser 2021-VINO, Cl A
5.759%, ICE LIBOR USD 1 Month + 0.652%, 05/15/2038(A)(B)		1,025		993
BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl A
5.807%, ICE LIBOR USD 1 Month + 0.700%, 09/15/2036(A)(B)		540		522
BX Commerical Mortgage Trust, Ser 2021-MFM1, Cl B
6.124%, TSFR1M + 1.064%, 01/15/2034(A)(B)		561		545
BX Trust, Ser 2021-LGCY, Cl A
5.613%, ICE LIBOR USD 1 Month + 0.506%, 10/15/2036(A)(B)		1,200		1,151
BX Trust, Ser 2022-LBA6, Cl A
6.059%, TSFR1M + 1.000%, 01/15/2039(A)(B)		670		652
CFCRE Commercial Mortgage Trust, Ser 2017-C8, Cl ASB
3.367%, 06/15/2050		598		573
CFMT LLC, Ser 2022-EBO2, Cl A
3.169%, 07/25/2054(A)(B)		58		55
Chase Mortgage Finance, Ser 2021-CL1, Cl M1
6.173%, SOFR30A + 1.200%, 02/25/2050(A)(B)		466		421


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
CHL Mortgage Pass-Through Trust, Ser 2004-29, Cl 1A1
5.678%, ICE LIBOR USD 1 Month + 0.540%, 02/25/2035(A)	$	8	$	7
Citigroup Commercial Mortgage Trust, Ser 2015-GC31, Cl AAB
3.431%, 06/10/2048		889		863
Citigroup Commercial Mortgage Trust, Ser 2016-P3, Cl AAB
3.127%, 04/15/2049		138		132
Citigroup Commercial Mortgage Trust, Ser 2019-SMRT, Cl A
4.149%, 01/10/2036(B)		625		620
Citigroup Commercial Mortgage Trust, Ser P1, Cl AAB
3.470%, 09/15/2048		450		438
Citigroup Mortgage Loan Trust, Ser 2004-HYB3, Cl 1A
3.806%, 09/25/2034(A)		9		8
Citigroup Mortgage Loan Trust, Ser 2006-AR2, Cl 1A1
4.276%, 03/25/2036(A)		50		39
Citigroup Mortgage Loan Trust, Ser 2018-RP2, Cl A1
3.012%, 02/25/2058(A)(B)		164		157
COLT Funding LLC, Ser 2021-3R, Cl A1
1.051%, 12/25/2064(A)(B)		328		284
COLT Mortgage Loan Trust, Ser 2020-2, Cl A1
1.853%, 03/25/2065(A)(B)		33		32
COLT Mortgage Loan Trust, Ser 2020-2R, Cl A1
1.325%, 10/26/2065(A)(B)		161		144
COLT Mortgage Loan Trust, Ser 2020-3, Cl A1
1.506%, 04/27/2065(A)(B)		74		69
COLT Mortgage Loan Trust, Ser 2021-1, Cl A1
0.910%, 06/25/2066(A)(B)		417		336
COLT Mortgage Loan Trust, Ser 2021-2, Cl A1
0.924%, 08/25/2066(A)(B)		548		425
COLT Mortgage Loan Trust, Ser 2021-2R, Cl A1
0.798%, 07/27/2054(B)		179		153
COLT Mortgage Loan Trust, Ser 2021-4, Cl A1
1.397%, 10/25/2066(A)(B)		941		742
COLT Mortgage Loan Trust, Ser 2021-HX1, Cl A1
1.110%, 10/25/2066(A)(B)		848		687
COLT Mortgage Pass-Through Certificates, Ser 2021-1R, Cl A1
0.857%, 05/25/2065(A)(B)		442		369


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
COMM Mortgage Trust, Ser 2014-UBS5, Cl A2
3.031%, 09/10/2047	$	9	$	9
Credit Suisse Mortgage Capital Certificates, Ser 2021-NQM4, Cl A1
1.101%, 05/25/2066(A)(B)		758		619
CSMC Trust, Ser 2019-AFC1, Cl A1
2.573%, 07/25/2049(B)(C)		616		569
CSMC Trust, Ser 2021-AFC1, Cl A1
0.830%, 03/25/2056(A)(B)		463		357
CSMC, Ser 2021-NQM1, Cl A1
0.809%, 05/25/2065(A)(B)		481		405
CSMC, Ser 2021-NQM3, Cl A1
1.015%, 04/25/2066(A)(B)		754		614
Deephaven Residential Mortgage Trust, Ser 2021-1, Cl A1
0.715%, 05/25/2065(A)(B)		141		126
Deephaven Residential Mortgage Trust, Ser 2021-2, Cl A1
0.899%, 04/25/2066(A)(B)		177		153
Ellington Financial Mortgage Trust, Ser 2020-2, Cl A1
1.178%, 10/25/2065(A)(B)		60		54
Ellington Financial Mortgage Trust, Ser 2021-1, Cl A1
0.797%, 02/25/2066(A)(B)		103		87
Ellington Financial Mortgage Trust, Ser 2021-2, Cl A1
0.931%, 06/25/2066(A)(B)		302		242
ELP Commercial Mortgage Trust, Ser 2021-ELP, Cl A
5.809%, ICE LIBOR USD 1 Month + 0.701%, 11/15/2038(A)(B)		1,060		1,022
Extended Stay America Trust, Ser ESH, Cl B
6.488%, ICE LIBOR USD 1 Month + 1.380%, 07/15/2038(A)(B)		487		474
FNMA Connecticut Avenue Securities, Ser 2014-C04, Cl 2M2
10.138%, ICE LIBOR USD 1 Month + 5.000%, 11/25/2024(A)		85		86
FNMA Connecticut Avenue Securities, Ser 2016-C03, Cl 2M2
11.038%, ICE LIBOR USD 1 Month + 5.900%, 10/25/2028(A)		331		352
GCAT Trust, Ser 2020-NQM2, Cl A1
1.555%, 04/25/2065(B)(C)		114		104
GCAT Trust, Ser 2021-CM1, Cl A
1.469%, 04/25/2065(A)(B)		620		564
GCAT Trust, Ser 2021-NQM1, Cl A1
0.874%, 01/25/2066(A)(B)		360		303
GCAT Trust, Ser 2021-NQM3, Cl A1
1.091%, 05/25/2066(A)(B)		473		387


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GCAT Trust, Ser 2021-NQM5, Cl A1
1.262%, 07/25/2066(A)(B)	$	1,311	$	1,048
GMAC Mortgage Loan Trust, Ser 2005-AR6, Cl 2A1
3.351%, 11/19/2035(A)		88		75
GS Mortgage Securities Trust, Ser 2016-GS3, Cl AAB
2.777%, 10/10/2049		210		200
GS Mortgage Securities Trust, Ser SHIP, Cl A
5.790%, TSFR1M + 0.731%, 08/15/2036(A)(B)		70		69
GSR Mortgage Loan Trust, Ser 2005-AR4, Cl 2A1
4.858%, 07/25/2035(A)		99		56
GSR Mortgage Loan Trust, Ser 2007-AR2, Cl 1A1
3.705%, 05/25/2037(A)		79		45
Impac CMB Trust, Ser 2004-9, Cl 1A1
5.898%, ICE LIBOR USD 1 Month + 0.760%, 01/25/2035(A)		16		15
Impac CMB Trust, Ser 2005-2, Cl 1A1
5.658%, ICE LIBOR USD 1 Month + 0.520%, 04/25/2035(A)		20		19
Impac CMB Trust, Ser 2005-3, Cl A1
5.618%, ICE LIBOR USD 1 Month + 0.480%, 08/25/2035(A)		23		21
Impac CMB Trust, Ser 2005-5, Cl A1
5.778%, ICE LIBOR USD 1 Month + 0.320%, 08/25/2035(A)		15		14
Impac CMB Trust, Ser 2005-8, Cl 1A
5.658%, ICE LIBOR USD 1 Month + 0.520%, 02/25/2036(A)		48		43
Imperial Fund Mortgage Trust, Ser 2021-NQM1, Cl A1
1.071%, 06/25/2056(A)(B)		654		552
Imperial Fund Mortgage Trust, Ser 2021-NQM2, Cl A1
1.073%, 09/25/2056(A)(B)		432		348
Imperial Fund Mortgage Trust, Ser 2021-NQM3, Cl A1
1.595%, 11/25/2056(A)(B)		438		367
JPMBB Commercial Mortgage Securities Trust, Ser C31, Cl ASB
3.540%, 08/15/2048		150		145
JPMorgan Mortgage Trust, Ser 2005-A6, Cl 7A1
4.088%, 08/25/2035(A)		18		15
JPMorgan Mortgage Trust, Ser 2007-A3, Cl 1A1
3.955%, 05/25/2037(A)		44		38
JPMorgan Mortgage Trust, Ser 2014-5, Cl A1
2.774%, 10/25/2029(A)(B)		1,083		1,024


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
JPMorgan Mortgage Trust, Ser 2018-7FRB, Cl A2
5.888%, ICE LIBOR USD 1 Month + 0.750%, 04/25/2046(A)(B)	$	149	$	143
JPMorgan Wealth Management, Ser 2021-CL1, Cl M1
6.273%, SOFR30A + 1.300%, 03/25/2051(A)(B)		903		796
KNDL Mortgage Trust, Ser 2019-KNSQ, Cl A
6.057%, LIBOR USD 1 Month + 0.800%, 05/15/2036(A)(B)		290		288
LSTAR Commercial Mortgage Trust, Ser 2016-4, Cl A2
2.579%, 03/10/2049(B)		585		584
Merrill Lynch Mortgage-Backed Securities Trust, Ser 2007-3, Cl 2A1
3.831%, 06/25/2037(A)		56		35
MetLife Securitization Trust, Ser 2017-1A, Cl A
3.000%, 04/25/2055(A)(B)		97		91
MFA Trust, Ser 2020-NQM1, Cl A1
1.479%, 03/25/2065(A)(B)		95		87
MFA Trust, Ser 2020-NQM3, Cl A1
1.014%, 01/26/2065(A)(B)		120		108
MFA Trust, Ser 2021-INV1, Cl A1
0.852%, 01/25/2056(A)(B)		271		239
MFA Trust, Ser 2021-NQM2, Cl A1
1.029%, 11/25/2064(A)(B)		365		303
MHC Commercial Mortgage Trust, Ser 2021-MHC, Cl B
6.274%, TSFR1M + 1.215%, 04/15/2038(A)(B)		2,050		1,995
MHP, Ser 2021-STOR, Cl A
5.807%, ICE LIBOR USD 1 Month + 0.700%, 07/15/2038(A)(B)		325		315
MHP, Ser 2022-MHIL, Cl A
5.874%, TSFR1M + 0.815%, 01/15/2027(A)(B)		379		366
Mill City Mortgage Loan Trust, Ser 2017-3, Cl A1
2.750%, 01/25/2061(A)(B)		689		666
Mill City Mortgage Loan Trust, Ser 2018-1, Cl A1
3.250%, 05/25/2062(A)(B)		68		66
Mill City Mortgage Loan Trust, Ser 2018-2, Cl A1
3.500%, 05/25/2058(A)(B)		154		150
Mill City Mortgage Loan Trust, Ser 2018-4, Cl A1B
3.500%, 04/25/2066(A)(B)		937		896
Mill City Mortgage Loan Trust, Ser 2021-NMR1, Cl A1
1.125%, 11/25/2060(A)(B)		299		277


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C21, Ser C21, Cl ASB
3.150%, 03/15/2048	$	143	$	138
Morgan Stanley Capital I Trust 2019-H6, Ser H6, Cl A2
3.228%, 06/15/2052		1,000		972
MortgageIT Trust, Ser 2005-5, Cl A1
5.658%, ICE LIBOR USD 1 Month + 0.520%, 12/25/2035(A)		42		40
New Residential Mortgage Loan Trust, Ser 2017-3A, Cl A1
4.000%, 04/25/2057(A)(B)		142		135
New Residential Mortgage Loan Trust, Ser 2017-6A, Cl A1
4.000%, 08/27/2057(A)(B)		349		326
New Residential Mortgage Loan Trust, Ser 2018-1A, Cl A1
3.916%, 09/25/2057(A)(B)		149		139
New Residential Mortgage Loan Trust, Ser 2019-NQM4, Cl A1
2.492%, 09/25/2059(A)(B)		62		57
New Residential Mortgage Loan Trust, Ser 2020-NQM1, Cl A1
2.464%, 01/26/2060(A)(B)		270		246
New Residential Mortgage Loan Trust, Ser 2020-NQM2, Cl A1
1.650%, 05/24/2060(A)(B)		116		107
New Residential Mortgage Loan Trust, Ser 2021-NQ2R, Cl A1
0.941%, 10/25/2058(A)(B)		142		127
New Residential Mortgage Loan Trust, Ser 2021-NQM3, Cl A1
1.156%, 11/27/2056(A)(B)		675		554
OBX Trust, Ser 2018-1, Cl A2
5.788%, ICE LIBOR USD 1 Month + 0.650%, 06/25/2057(A)(B)		26		24
OBX Trust, Ser 2021-NQM2, Cl A1
1.101%, 05/25/2061(A)(B)		636		507
Paragon Mortgages, Ser 2006-12A, Cl A2C
5.541%, ICE LIBOR USD 3 Month + 0.220%, 11/15/2038(A)(B)		66		64
PRPM LLC, Ser 2021-RPL1, Cl A1
1.319%, 07/25/2051(B)(C)		235		207
Residential Funding Mortgage Securities, Ser 2007-SA3, Cl 2A1
4.752%, 07/27/2037(A)		63		52
Residential Mortgage Loan Trust, Ser 2020-1, Cl A1
2.376%, 01/26/2060(A)(B)		52		49
Sequoia Mortgage Trust, Ser 2004-12, Cl A1
5.688%, ICE LIBOR USD 1 Month + 0.540%, 01/20/2035(A)		7		6


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Sequoia Mortgage Trust, Ser 2018-CH3, Cl A1
4.500%, 08/25/2048(A)(B)	$	12	$	11
SG Residential Mortgage Trust, Ser 2021-1, Cl A1
1.160%, 07/25/2061(A)(B)		938		742
SREIT Trust, Ser 2021-MFP, Cl B
6.187%, ICE LIBOR USD 1 Month + 1.080%, 11/15/2038(A)(B)		900		869
STAR Trust, Ser 2021-1, Cl A1
1.219%, 05/25/2065(A)(B)		321		276
Starwood Mortgage Residential Trust, Ser 2020-1, Cl A1
2.275%, 02/25/2050(A)(B)		20		19
Starwood Mortgage Residential Trust, Ser 2020-3, Cl A1
1.486%, 04/25/2065(A)(B)		62		57
Starwood Mortgage Residential Trust, Ser 2021-2, Cl A1
0.943%, 05/25/2065(A)(B)		165		147
Starwood Mortgage Residential Trust, Ser 2021-3, Cl A1
1.127%, 06/25/2056(A)(B)		553		450
Toorak Mortgage, Ser 2021-INV1, Cl A1
1.153%, 07/25/2056(A)(B)		411		348
Towd Point Mortgage Trust, Ser 2017-1, Cl A1
2.750%, 10/25/2056(A)(B)		119		117
Towd Point Mortgage Trust, Ser 2017-2, Cl A1
2.750%, 04/25/2057(A)(B)		135		134
Towd Point Mortgage Trust, Ser 2017-4, Cl A1
2.750%, 06/25/2057(A)(B)		282		267
Towd Point Mortgage Trust, Ser 2017-5, Cl A1
4.455%, ICE LIBOR USD 1 Month + 0.600%, 02/25/2057(A)(B)		149		149
Towd Point Mortgage Trust, Ser 2017-6, Cl A1
2.750%, 10/25/2057(A)(B)		78		74
Towd Point Mortgage Trust, Ser 2018-2, Cl A1
3.250%, 03/25/2058(A)(B)		227		217
Towd Point Mortgage Trust, Ser 2019-HY3, Cl A1A
6.138%, ICE LIBOR USD 1 Month + 1.000%, 10/25/2059(A)(B)		231		228
Towd Point Mortgage Trust, Ser 2021-SJ1, Cl A1
2.250%, 07/25/2068(A)(B)		756		704


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Towd Point Mortgage Trust, Ser 2022-EBO1, Cl A
2.161%, 01/25/2052(A)(B)	$	280	$	273
TTAN, Ser 2021-MHC, Cl B
6.208%, ICE LIBOR USD 1 Month + 1.100%, 03/15/2038(A)(B)		612		592
UBS Commercial Mortgage Trust, Ser 2017-C3, Cl ASB
3.215%, 08/15/2050		213		203
UBS Commercial Mortgage Trust, Ser 2017-C6, Cl ASB
3.504%, 12/15/2050		223		212
Verus Securitization Trust, Ser 2019-4, Cl A1
2.642%, 11/25/2059(B)(C)		63		61
Verus Securitization Trust, Ser 2019-INV3, Cl A1
2.692%, 11/25/2059(A)(B)		87		83
Verus Securitization Trust, Ser 2020-1, Cl A1
2.417%, 01/25/2060(B)(C)		28		26
Verus Securitization Trust, Ser 2020-4, Cl A1
1.502%, 05/25/2065(B)(C)		141		129
Verus Securitization Trust, Ser 2021-1, Cl A2
1.052%, 01/25/2066(A)(B)		335		284
Verus Securitization Trust, Ser 2021-1, Cl A1
0.815%, 01/25/2066(A)(B)		257		219
Verus Securitization Trust, Ser 2021-2, Cl A1
1.031%, 02/25/2066(A)(B)		340		290
Verus Securitization Trust, Ser 2021-R1, Cl A1
0.820%, 10/25/2063(A)(B)		391		349
Verus Securitization Trust, Ser 2021-R2, Cl A1
0.918%, 02/25/2064(A)(B)		491		424
Verus Securitization Trust, Ser 2021-R3, Cl A1
1.020%, 04/25/2064(A)(B)		301		266
WaMu Mortgage Pass-Through Certificates, Ser 2006-AR2, Cl 1A1
3.884%, 03/25/2036(A)		67		61
Wells Fargo Commercial Mortgage Trust, Ser 2015-NXS2, Cl A2
3.020%, 07/15/2058		255		246
Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl ASB
3.324%, 01/15/2059		308		299


				49,565
Total Mortgage-Backed Securities
(Cost $73,021) ($ Thousands)				67,782


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS — 10.2%
U.S. Treasury Bills
3.052%, 07/13/2023 (D)	$	1,800	$	1,789
U.S. Treasury Notes
2.000%, 04/30/2024		4,525		4,393
0.375%, 04/15/2024		13,325		12,773
0.125%, 10/15/2023		4,300		4,218
0.125%, 12/15/2023		11,300		10,991

Total U.S. Treasury Obligations
(Cost $34,406) ($ Thousands)				34,164



U.S. GOVERNMENT AGENCY OBLIGATIONS — 3.6%
FHLB
5.740%, 04/08/2024		2,750		2,742
5.300%, 05/22/2024		850		846
5.300%, 05/28/2024		850		845
5.000%, 11/09/2023		850		849
4.875%, 11/07/2023		75		75
FHLB DN
4.815%, 07/21/2023(D)		1,208		1,200
4.807%, 07/14/2023(D)		236		234
FHLMC
5.820%, 03/20/2025		1,205		1,199
5.300%, 01/27/2026		1,900		1,882
FNMA
3.875%, 08/28/2024		2,225		2,183



Total U.S. Government Agency Obligations
(Cost $12,140) ($ Thousands)				12,055



MUNICIPAL BONDS — 2.2%
District of Columbia — 0.2%
District of Columbia Water & Sewer Authority, Sub-Ser D, RB
1.672%, 10/01/2023		565		557


Illinois — 0.0%
Chicago, Transit Authority, Ser B, RB
1.838%, 12/01/2023		145		142


Massachusetts — 0.4%
Massachusetts School Building Authority, Sub-Ser B, RB
2.078%, 10/15/2023		1,345		1,329


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
New York — 0.9%
New York City Transitional Finance Authority Building Aid Revenue, Sub-Ser S-1B, RB, ST AID WITHHLDG
0.380%, 07/15/2023	$	2,865	$	2,847


South Carolina — 0.7%
South Carolina State, Public Service Authority, Ser E, RB
3.722%, 12/01/2023 (E)		2,470		2,445



Total Municipal Bonds
(Cost $7,419) ($ Thousands)				7,320


	Shares
CASH EQUIVALENT — 0.3%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		1,165,650		1,166

Total Cash Equivalent
(Cost $1,166) ($ Thousands)				1,166


	Face Amount (Thousands)
REPURCHASE AGREEMENT — 1.4%
BNP Paribas
5.05%, dated 5/31/2023 to be repurchased on 6/1/2023, repurchase price $4,600,649 (collateralized by various U.S. Government Agencies, ranging in par value $100 - $3,940,995, 0.000% - 6.000%, 6/15/2023 - 4/1/2053, with a total market value of $4,692,000) (F)	$	4,600		4,600
Total Repurchase Agreement
(Cost $4,600) ($ Thousands)				4,600


Total Investments in Securities — 100.2%
(Cost $342,900) ($ Thousands)			$	334,347

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $333,639 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(B)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $136,513 ($ Thousands), representing 40.9% of the Net Assets of the Fund.
(C)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(D)	Interest rate represents the security's effective yield at the time of purchase.
(E)	Security is escrowed to maturity.
(F)	Tri-Party Repurchase Agreement.

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Corporate Obligations

–

114,341

–

114,341

Asset-Backed Securities

–

92,919

–

92,919

Mortgage-Backed Securities

–

67,782

–

67,782

U.S. Treasury Obligations

–

34,164

–

34,164

U.S. Government Agency Obligations

–

12,055

–

12,055

Municipal Bonds

–

7,320

–

7,320

Cash Equivalent

1,166

–

1,166

Repurchase Agreement

–

4,600

–

4,600

Total Investments in Securities

1,166

333,181

–

334,347

Other Financial Instruments	Level 1 ($)			Level 2 ($)		Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Depreciation		(4	)		–		–		(4	)
Total Other Financial Instruments		(4	)		–		–		(4	)

*	Futures contracts are valued at the unrealized depreciation on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS — 93.7%
Angola — 1.2%
Angola Via Avenir II BV MTN
12.772%, ICE LIBOR USD 6 Month + 7.500%, 07/03/2023 (A)	$	1,514	$	1,510
Angola Via Avenir Issuer II Ireland DAC
6.927%, 02/19/2027		3,520		3,252
Angolan Government International Bond
9.500%, 11/12/2025 (B)		161		160
9.375%, 05/08/2048		5,503		4,217
8.750%, 04/14/2032 (B)		3,764		3,156
8.750%, 04/14/2032		6,039		5,064
8.250%, 05/09/2028		1,346		1,197
8.250%, 05/09/2028 (B)		430		382
Angolan Government International Bond MTN
9.125%, 11/26/2049		1,432		1,066
8.000%, 11/26/2029 (B)		746		633
8.000%, 11/26/2029		741		629
				21,266

Argentina — 0.8%
Argentine Republic Government International Bond
3.500%, 07/09/2041 (C)		11,264		2,899
1.500%, 07/09/2035 (C)		25,263		5,865
1.000%, 07/09/2029		660		168
0.500%, 07/09/2029	EUR	13		3
0.500%, 07/09/2030 (C)	$	7,922		2,080
Provincia de Buenos Aires MTN
5.250%, 09/01/2037 (C)		4,341		1,378
3.000%, 09/01/2037 (C)	EUR	977		229
Provincia de Cordoba
6.875%, 12/10/2025 (B)(C)	$	721		565
Rio Energy
6.875%, 02/01/2025 (B)		372		262
				13,449


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Armenia — 0.1%
Armenia International Bond
3.950%, 09/26/2029	$	250	$	206
3.600%, 02/02/2031		2,257		1,755
				1,961

Azerbaijan — 0.8%
Azerbaijan International Bond
5.125%, 09/01/2029		2,509		2,395
Southern Gas Corridor CJSC
6.875%, 03/24/2026		7,079		7,226
6.875%, 03/24/2026 (B)(D)		512		523
State Oil of the Azerbaijan Republic
6.950%, 03/18/2030		540		555
6.950%, 03/18/2030		4,011		4,124
				14,823

Bahamas — 0.1%
Bahamas Government International Bond
6.000%, 11/21/2028		1,370		1,047


Bahrain — 0.6%
Bahrain Government International Bond
7.750%, 04/18/2035 (B)		1,181		1,162
5.450%, 09/16/2032		3,898		3,408
Bahrain Government International Bond MTN
4.250%, 01/25/2028		2,055		1,880
CBB International Sukuk Programme WLL (B)
6.250%, 10/18/2030		675		680
3.875%, 05/18/2029		1,359		1,210
Oil and Gas Holding BSCC
8.375%, 11/07/2028 (B)		810		850
8.375%, 11/07/2028		600		630
				9,820

Benin — 0.1%
Benin Government International Bond
6.875%, 01/19/2052	EUR	115		84
4.950%, 01/22/2035		1,321		962
4.875%, 01/19/2032		1,276		1,008
				2,054

Bermuda — 0.2%
Bermuda Government International Bond
5.000%, 07/15/2032	$	592		582
4.750%, 02/15/2029		2,514		2,476
3.717%, 01/25/2027		393		376
2.375%, 08/20/2030		306		258
				3,692


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Bolivia — 0.0%
Bolivian Government International Bond
4.500%, 03/20/2028	$	883	$	528


Brazil — 6.2%
Braskem Netherlands Finance BV
7.250%, 02/13/2033 (B)		1,839		1,773
Brazil Letras do Tesouro Nacional
0.000%, 01/01/2025 (E)	BRL	9,286		1,525
Brazil Loan Trust 1
5.477%, 07/24/2023 (B)	$	28		28
Brazil Minas SPE via State of Minas Gerais
5.333%, 02/15/2028		1,264		1,240
5.333%, 02/15/2028		645		632
Brazil Notas do Tesouro Nacional, Ser B
6.000%, 05/15/2045	BRL	435		363
6.000%, 08/15/2050		623		521
Brazil Notas do Tesouro Nacional, Ser F
10.000%, 01/01/2025		125,900		24,050
10.000%, 01/01/2027		100,252		19,051
10.000%, 01/01/2029		98,331		18,242
10.000%, 01/01/2031		36,188		6,589
Brazil Notas do Tesouro Nacional Serie B
6.000%, 05/15/2035		390		326
Brazil Notas do Tesouro Nacional Serie F
10.000%, 01/01/2033		41,373		7,724
Brazilian Government International Bond
6.000%, 10/20/2033	$	7,633		7,484
5.625%, 01/07/2041		523		456
5.625%, 02/21/2047		2,318		1,919
5.000%, 01/27/2045		2,958		2,279
4.750%, 01/14/2050		8,711		6,301
Centrais Eletricas Brasileiras
4.625%, 02/04/2030 (B)		232		198
CSN Inova Ventures
6.750%, 01/28/2028 (B)		800		741
CSN Resources
4.625%, 06/10/2031 (B)		804		609
Iochpe-Maxion Austria GmbH
5.000%, 05/07/2028 (B)		866		709
MC Brazil Downstream Trading SARL
7.250%, 06/30/2031 (B)		1,804		1,323
7.250%, 06/30/2031		406		297
Minerva Luxembourg
4.375%, 03/18/2031 (B)		462		358
MV24 Capital BV
6.748%, 06/01/2034 (B)		550		487
Nexa Resources
5.375%, 05/04/2027 (B)		4,041		3,693
Suzano Austria GmbH
7.000%, 03/16/2047 (B)		572		569
6.000%, 01/15/2029		406		402


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
5.000%, 01/15/2030	$	687	$	637
				110,526

Cameroon — 0.0%
Cameroon International Bond
5.950%, 07/07/2032	EUR	823		596


Cayman Islands — 0.1%
Neon Capital MTN
2.216%, 01/06/2028 (A)(H)	JPY	285,987		1,822


Chile — 2.6%
ALFA Desarrollo SPA
4.550%, 09/27/2051 (B)	$	352		255
ATP Tower Holdings LLC
4.050%, 04/27/2026 (B)	CLP	381		326
Banco de Credito e Inversiones
3.500%, 10/12/2027 (B)	$	1,691		1,567
Bonos de la Tesoreria de la Republica
1.900%, 09/01/2030	CLP	1,322,325		1,591
Bonos de la Tesoreria de la Republica en pesos
7.000%, 05/01/2034 (B)		4,026,535		5,624
6.000%, 04/01/2033 (B)		3,635,000		4,690
6.000%, 01/01/2043		570,000		764
5.000%, 10/01/2028 (B)		1,420,000		1,699
5.000%, 03/01/2035		690,000		820
4.700%, 09/01/2030 (B)		3,330,000		3,956
4.500%, 03/01/2026		3,110,000		3,687
2.800%, 10/01/2033 (B)		625,000		617
Cencosud
4.375%, 07/17/2027 (B)	$	2,283		2,188
Chile Government International Bond
4.000%, 01/31/2052 (D)		625		500
3.860%, 06/21/2047		785		628
3.500%, 01/31/2034		336		297
3.250%, 09/21/2071		574		366
3.100%, 05/07/2041		597		446
3.100%, 01/22/2061		730		468
2.750%, 01/31/2027		1,406		1,321
2.550%, 01/27/2032		559		480
2.550%, 07/27/2033		6,375		5,236
2.450%, 01/31/2031		273		237
1.875%, 05/27/2030	EUR	230		213
Empresa de los Ferrocarriles del Estado
3.830%, 09/14/2061	$	500		335
3.068%, 08/18/2050		300		185
Empresa Nacional del Petroleo
6.150%, 05/10/2033 (B)		218		217
4.500%, 09/14/2047		350		262
3.450%, 09/16/2031 (B)		504		418
Nacional del Cobre de Chile
5.125%, 02/02/2033 (B)		2,508		2,492


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
5.125%, 02/02/2033	$	2,527	$	2,511
3.750%, 01/15/2031 (B)		234		213
3.700%, 01/30/2050 (B)		469		348
3.000%, 09/30/2029		1,050		928
3.000%, 09/30/2029 (B)		390		345
				46,230

China — 3.2%
Alibaba Group Holding Ltd
3.250%, 02/09/2061		208		129
Blossom Joy
3.100% (A)(F)		243		231
China Government Bond
3.810%, 09/14/2050	CNY	8,700		1,369
3.720%, 04/12/2051		3,800		590
3.530%, 10/18/2051		11,560		1,740
3.280%, 12/03/2027		18,800		2,741
3.270%, 11/19/2030		9,100		1,338
3.190%, 04/15/2053		430		62
3.120%, 10/25/2052		14,570		2,052
3.020%, 10/22/2025		35,100		5,026
3.010%, 05/13/2028		2,000		288
2.910%, 10/14/2028		5,000		716
2.890%, 11/18/2031		3,000		427
2.880%, 02/25/2033		58,040		8,275
2.800%, 03/24/2029		4,700		667
2.800%, 03/25/2030		30,960		4,388
2.790%, 12/15/2029		2,000		283
2.790%, 12/15/2029		4,500		637
2.750%, 06/15/2029		5,000		708
2.690%, 08/12/2026		6,000		852
2.640%, 01/15/2028		84,800		12,013
2.620%, 09/25/2029		4,000		561
2.600%, 09/01/2032		3,300		458
China Government International Bond
3.250%, 10/19/2023	$	1,975		1,964
1.250%, 10/26/2026 (B)		843		760
0.550%, 10/21/2025		428		390
0.400%, 10/21/2023		3,404		3,348
Chinalco Capital Holdings Ltd
4.100% (A)(F)		307		301
2.125%, 06/03/2026		632		577
Dianjian Haiyu Ltd
4.300% (A)(F)		205		202
ENN Clean Energy International Investment
3.375%, 05/12/2026 (B)		308		283
Meituan
3.050%, 10/28/2030		238		188
Minmetals Bounteous Finance BVI
3.375% (A)(F)		1,080		1,048
Powerchina Roadbridge Group British Virgin Islands
3.080% (A)(F)		423		395


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Shimao Group Holdings
5.600%, 07/15/2026 (G)	$	2,542	$	266
5.200%, 01/30/2025		2,111		220
Tencent Holdings MTN
3.240%, 06/03/2050 (B)		620		409
Wanda Properties International
7.250%, 01/29/2024		1,217		694
Wanda Properties Overseas
6.875%, 07/23/2023		244		215
				56,811

Colombia — 5.1%
AI Candelaria Spain (B)
7.500%, 12/15/2028		537		487
5.750%, 06/15/2033		1,280		900
Colombia Government International Bond
9.850%, 06/28/2027	COP	7,914,000		1,625
9.850%, 06/28/2027		994,000		204
8.000%, 04/20/2033	$	7,871		7,905
7.500%, 02/02/2034		4,988		4,779
6.125%, 01/18/2041		5,764		4,505
5.625%, 02/26/2044		1,555		1,121
5.200%, 05/15/2049		4,415		2,977
5.000%, 06/15/2045		1,538		1,019
4.500%, 03/15/2029		1,032		898
4.125%, 02/22/2042		1,278		788
3.875%, 02/15/2061		1,115		605
3.000%, 01/30/2030		2,574		1,976
Colombian TES
13.250%, 02/09/2033	COP	8,553,700		2,161
10.000%, 07/24/2024		7,805,900		1,760
9.250%, 05/28/2042		14,241,200		2,692
7.750%, 09/18/2030		7,800,300		1,487
7.500%, 08/26/2026		38,821,500		8,014
7.250%, 10/18/2034		32,194,400		5,440
7.250%, 10/26/2050		6,253,600		929
7.000%, 03/26/2031		32,245,900		5,778
7.000%, 03/26/2031		1,757,100		315
7.000%, 06/30/2032		38,063,500		6,609
6.250%, 11/26/2025		5,300,000		1,090
6.250%, 07/09/2036		7,097,200		1,064
6.000%, 04/28/2028		44,291,000		8,221
5.750%, 11/03/2027		34,151,600		6,394
Ecopetrol
8.875%, 01/13/2033	$	1,909		1,867
6.875%, 04/29/2030		686		614
5.875%, 11/02/2051		504		323
Empresas Publicas de Medellin ESP (B)
8.375%, 11/08/2027	COP	4,600,000		786
7.625%, 09/10/2024		2,224,000		460
7.625%, 09/10/2024		1,827,000		378
Financiera de Desarrollo Territorial Findeter
7.875%, 08/12/2024 (B)		1,408,000		294


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
7.875%, 08/12/2024	COP	1,095,000	$	229
Geopark
5.500%, 01/17/2027 (B)	$	1,056		862
Gran Tierra Energy
7.750%, 05/23/2027 (B)		754		545
Grupo Aval
4.375%, 02/04/2030 (B)		1,083		804
Millicom International Cellular
5.125%, 01/15/2028 (B)		733		631
SierraCol Energy Andina LLC
6.000%, 06/15/2028 (B)		1,819		1,333
				90,869

Costa Rica — 0.4%
Costa Rica Government International Bond
7.000%, 04/04/2044		1,332		1,298
7.000%, 04/04/2044		780		761
6.550%, 04/03/2034 (B)		2,806		2,833
6.550%, 04/03/2034		3,043		3,073
				7,965

Côte d'Ivoire — 0.7%
Ivory Coast Government International Bond
6.875%, 10/17/2040	EUR	2,734		2,118
6.625%, 03/22/2048		1,137		821
6.625%, 03/22/2048		4,244		3,065
6.625%, 03/22/2048 (B)		373		269
6.125%, 06/15/2033	$	944		816
5.875%, 10/17/2031	EUR	467		405
5.875%, 10/17/2031 (B)		198		172
5.250%, 03/22/2030		3,104		2,701
4.875%, 01/30/2032		1,656		1,333
				11,700

Czechia — 2.4%
Czech Republic Government Bond
6.000%, 02/26/2026	CZK	18,550		850
5.500%, 12/12/2028		114,570		5,345
5.000%, 09/30/2030		17,000		779
4.200%, 12/04/2036		12,390		537
3.500%, 05/30/2035		55,110		2,240
2.750%, 07/23/2029		97,840		3,923
2.500%, 08/25/2028		193,090		7,753
2.400%, 09/17/2025		18,270		765
2.000%, 10/13/2033		167,300		5,931
1.950%, 07/30/2037		67,030		2,216
1.750%, 06/23/2032		39,200		1,401
1.500%, 04/24/2040		49,440		1,410
1.200%, 03/13/2031		48,800		1,707
1.000%, 06/26/2026		77,590		3,080
0.950%, 05/15/2030		47,180		1,656
0.250%, 02/10/2027		29,920		1,129


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
0.050%, 11/29/2029	CZK	62,880	$	2,099
				42,821

Dominican Republic — 2.0%
Dominican Republic Central Bank Notes
13.000%, 12/05/2025 (B)	DOP	405,090		7,621
Dominican Republic International Bond
9.750%, 06/05/2026		24,700		450
7.450%, 04/30/2044	$	2,024		1,931
7.450%, 04/30/2044 (B)		587		560
7.050%, 02/03/2031		954		947
7.050%, 02/03/2031 (B)		2,825		2,803
6.850%, 01/27/2045		2,018		1,784
6.500%, 02/15/2048		6,323		5,283
6.400%, 06/05/2049		750		619
6.000%, 02/22/2033		7,040		6,412
5.875%, 01/30/2060		4,838		3,581
5.300%, 01/21/2041		2,174		1,683
4.500%, 01/30/2030		1,592		1,372
				35,046

Ecuador — 0.7%
Ecuador Government International Bond
5.500%, 07/31/2030 (C)		5,320		2,568
5.500%, 07/31/2030 (B)(C)		6,034		2,912
2.500%, 07/31/2035 (B)(C)		3,646		1,244
2.500%, 07/31/2035 (C)		14,462		4,936
1.500%, 07/31/2040 (B)(C)		1,527		481
0.000%, 07/31/2030 (B)(E)		1,489		433
0.000%, 07/31/2030 (E)		100		29
				12,603

Egypt — 1.3%
Egypt Government Bond
14.664%, 10/06/2030	EGP	7,247		154
Egypt Government International Bond
8.875%, 05/29/2050	$	3,290		1,692
8.875%, 05/29/2050 (B)		2,184		1,124
8.700%, 03/01/2049 (B)		254		130
7.625%, 05/29/2032		6,776		3,735
Egypt Government International Bond MTN
8.750%, 09/30/2051 (B)		1,231		627
8.500%, 01/31/2047		5,044		2,530
7.300%, 09/30/2033		2,410		1,289
7.053%, 01/15/2032 (B)		1,127		615
6.375%, 04/11/2031	EUR	2,820		1,582
6.375%, 04/11/2031 (B)		1,498		840
5.800%, 09/30/2027	$	1,230		769
5.800%, 09/30/2027 (B)		4,984		3,115
5.625%, 04/16/2030	EUR	1,081		611
4.750%, 04/11/2025		633		505
4.750%, 04/11/2025 (B)		325		259
4.750%, 04/16/2026		1,886		1,333
4.750%, 04/16/2026 (B)		664		469


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Egyptian Financial for Sovereign Taskeek
10.875%, 02/28/2026 (B)	$	1,350	$	1,219
				22,598

El Salvador — 0.5%
El Salvador Government International Bond
9.500%, 07/15/2052		10,583		5,946
8.625%, 02/28/2029		2,396		1,439
8.250%, 04/10/2032		747		435
7.650%, 06/15/2035		283		149
7.125%, 01/20/2050		328		161
6.375%, 01/18/2027 (B)		396		252
				8,382

Ethiopia — 0.1%
Ethiopia International Bond
6.625%, 12/11/2024		431		293
Federal Democratic Republic of Ethiopia
6.625%, 12/11/2024 (B)		2,799		1,899
				2,192

Gabon — 0.2%
Gabon Government International Bond
7.000%, 11/24/2031 (B)		1,405		1,100
7.000%, 11/24/2031		233		183
6.950%, 06/16/2025 (B)		945		897
6.625%, 02/06/2031 (B)		1,930		1,508
6.625%, 02/06/2031		350		273
6.375%, 12/12/2024 (B)		466		450
				4,411

Georgia — 0.0%
Georgian Railway JSC
4.000%, 06/17/2028 (B)		686		584


Ghana — 0.8%
Ghana Government Bond
19.250%, 12/18/2023	GHS	5,730		460
Ghana Government International Bond
10.750%, 10/14/2030	$	6,925		4,690
10.750%, 10/14/2030 (B)		976		661
8.950%, 03/26/2051 (B)		2,983		1,134
8.875%, 05/07/2042 (G)		1,946		739
8.875%, 05/07/2042 (B)		180		68
8.750%, 03/11/2061 (G)		1,039		394
8.625%, 04/07/2034 (G)		4,530		1,808
8.625%, 04/07/2034 (B)		411		164
7.875%, 02/11/2035 (G)		2,047		819
7.750%, 04/07/2029 (G)		1,321		528
7.625%, 05/16/2029 (G)		3,054		1,225
6.375%, 02/11/2027 (B)		403		162
Tullow Oil (B)
10.250%, 05/15/2026		477		355


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
7.000%, 03/01/2025	$	1,747	$	941
				14,148

Guatemala — 0.4%
CT Trust
5.125%, 02/03/2032 (B)		1,164		918
Guatemala Government Bond
6.125%, 06/01/2050		370		334
5.375%, 04/24/2032		810		766
5.250%, 08/10/2029		2,527		2,394
4.650%, 10/07/2041		247		194
4.500%, 05/03/2026		941		901
3.700%, 10/07/2033 (B)		1,845		1,480
3.700%, 10/07/2033		1,055		847
				7,834

Honduras — 0.1%
Honduras Government International Bond
6.250%, 01/19/2027		479		433
5.625%, 06/24/2030		1,843		1,471
				1,904

Hong Kong — 0.0%
NWD
4.125%, 07/18/2029		1,026		812


Hungary — 2.4%
Hungary Government Bond
6.750%, 10/22/2028	HUF	2,660,060		6,994
5.500%, 06/24/2025		556,130		1,442
4.750%, 11/24/2032		1,687,350		3,839
4.500%, 03/23/2028		1,854,620		4,448
4.500%, 05/27/2032		265,230		599
3.250%, 10/22/2031		741,990		1,557
3.000%, 10/27/2027		837,910		1,896
3.000%, 08/21/2030		445,360		945
3.000%, 10/27/2038		1,832,610		3,187
2.250%, 04/20/2033		428,990		787
2.000%, 05/23/2029		1,383,570		2,857
Hungary Government International Bond
6.750%, 09/25/2052 (B)	$	2,572		2,594
6.125%, 05/22/2028 (B)		1,752		1,780
4.250%, 06/16/2031	EUR	1,088		1,066
3.125%, 09/21/2051	$	3,975		2,366
3.125%, 09/21/2051 (B)		584		348
2.125%, 09/22/2031		1,259		957
2.125%, 09/22/2031 (B)		1,200		912
1.750%, 06/05/2035	EUR	2,232		1,620
1.500%, 11/17/2050		800		420
Magyar Export-Import Bank Zrt
6.125%, 12/04/2027 (B)	$	2,232		2,215
				42,829


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
India — 0.5%
Adani Electricity Mumbai
3.949%, 02/12/2030	$	1,169	$	881
3.949%, 02/12/2030 (B)		720		543
Export-Import Bank of India MTN
3.250%, 01/15/2030		1,179		1,050
2.250%, 01/13/2031		1,052		853
Greenko Power II
4.300%, 12/13/2028		678		577
Network i2i
5.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.277% (A)(B)(F)		290		280
Power Finance MTN
3.950%, 04/23/2030 (B)		786		708
Reliance Industries (B)
3.625%, 01/12/2052		986		699
2.875%, 01/12/2032		1,175		987
UPL
4.625%, 06/16/2030		701		600
Vedanta Resources Finance II
13.875%, 01/21/2024 (B)		403		367
8.950%, 03/11/2025		1,070		796
				8,341

Indonesia — 6.9%
Freeport Indonesia
6.200%, 04/14/2052 (B)		949		845
Freeport Indonesia MTN
5.315%, 04/14/2032		929		870
5.315%, 04/14/2032 (B)		446		417
Indonesia Asahan Aluminium (B)
5.800%, 05/15/2050		1,683		1,491
5.710%, 11/15/2023		866		863
Indonesia Government International Bond
8.500%, 10/12/2035		2,310		3,002
8.500%, 10/12/2035		400		520
5.650%, 01/11/2053		3,089		3,209
4.850%, 01/11/2033		4,558		4,593
4.750%, 02/11/2029		534		534
4.650%, 09/20/2032		2,109		2,090
4.550%, 01/11/2028		2,380		2,372
4.150%, 09/20/2027		1,990		1,950
3.550%, 03/31/2032		613		563
3.500%, 01/11/2028		2,736		2,609
3.500%, 02/14/2050		1,247		938
2.850%, 02/14/2030		2,107		1,899
1.400%, 10/30/2031	EUR	1,430		1,207
1.300%, 03/23/2034		1,087		847
1.100%, 03/12/2033		1,000		787
Indonesia Government International Bond MTN
5.250%, 01/17/2042	$	911		911


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
3.750%, 06/14/2028	EUR	712	$	751
Indonesia Treasury Bond
9.000%, 03/15/2029	IDR	53,386,000		4,031
8.750%, 05/15/2031		76,955,000		5,854
8.375%, 03/15/2034		22,103,000		1,681
8.375%, 04/15/2039		69,773,000		5,393
8.250%, 05/15/2029		49,702,000		3,643
8.250%, 05/15/2036		102,313,000		7,727
8.125%, 05/15/2024		91,317,000		6,220
7.500%, 08/15/2032		30,597,000		2,182
7.500%, 06/15/2035		50,500,000		3,611
7.500%, 05/15/2038		26,201,000		1,867
7.500%, 04/15/2040		41,557,000		2,971
7.125%, 06/15/2038		13,000,000		909
7.125%, 06/15/2042		26,217,000		1,810
7.125%, 06/15/2043		57,313,000		4,005
7.000%, 05/15/2027		27,100,000		1,870
7.000%, 09/15/2030		25,316,000		1,750
7.000%, 02/15/2033		111,298,000		7,750
6.875%, 08/15/2051		41,800,000		2,791
6.625%, 05/15/2033		16,461,000		1,112
6.500%, 06/15/2025		12,559,000		849
6.500%, 02/15/2031		10,160,000		681
6.375%, 08/15/2028		52,106,000		3,528
6.375%, 04/15/2032		99,313,000		6,596
6.375%, 07/15/2037		2,200,000		143
5.125%, 04/15/2027		26,605,000		1,729
Medco Bell Pte
6.375%, 01/30/2027 (B)	$	626		564
Minejesa Capital BV (B)
5.625%, 08/10/2037		1,448		1,142
4.625%, 08/10/2030		582		520
Pertamina Persero MTN
3.650%, 07/30/2029 (B)		985		911
Perusahaan Penerbit SBSN Indonesia III
4.700%, 06/06/2032		512		513
Perusahaan Perseroan Persero Perusahaan Listrik Negara
1.875%, 11/05/2031 (B)	EUR	1,143		916
1.875%, 11/05/2031		350		280
Perusahaan Perseroan Persero Perusahaan Listrik Negara MTN
6.150%, 05/21/2048	$	1,070		1,029
5.250%, 10/24/2042		1,097		964
5.250%, 05/15/2047		710		611
4.375%, 02/05/2050 (B)		355		265
3.375%, 02/05/2030		206		181
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara MTN
6.150%, 05/21/2048 (B)		1,015		976
				122,843


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Iraq — 0.0%
Iraq Government International Bond
5.800%, 01/15/2028	$	259	$	239


Israel — 0.2%
Bank Leumi Le-Israel
3.275%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.631%, 01/29/2031 (A)(B)		592		526
Israel Government International Bond
4.500%, 01/17/2033		1,703		1,672
4.500%, 04/03/2120		1,243		973
Leviathan Bond
6.750%, 06/30/2030 (B)		550		507
				3,678

Jordan — 0.4%
Jordan Government International Bond
7.750%, 01/15/2028 (B)		392		393
7.500%, 01/13/2029 (B)		3,467		3,418
7.500%, 01/13/2029		437		431
7.375%, 10/10/2047 (B)		1,017		848
7.375%, 10/10/2047		920		767
5.850%, 07/07/2030 (B)		850		760
				6,617

Kazakhstan — 1.0%
Kazakhstan Government International Bond
4.875%, 10/14/2044		2,424		2,164
4.875%, 10/14/2044 (B)		1,180		1,053
Kazakhstan Government International Bond MTN
6.500%, 07/21/2045 (B)		1,548		1,600
2.375%, 11/09/2028 (B)	EUR	750		718
1.500%, 09/30/2034		1,975		1,492
KazMunayGas National JSC
6.375%, 10/24/2048 (B)	$	2,818		2,297
6.375%, 10/24/2048		350		285
5.750%, 04/19/2047 (B)		2,560		1,964
5.375%, 04/24/2030 (B)		1,295		1,171
3.500%, 04/14/2033		829		620
KazMunayGas National JSC MTN
5.375%, 04/24/2030		2,069		1,871
5.375%, 04/24/2030		1,549		1,401
QazaqGaz NC JSC
4.375%, 09/26/2027 (B)		533		494
4.375%, 09/26/2027		341		316
Tengizchevroil Finance International
3.250%, 08/15/2030 (B)		630		472
				17,918

Kenya — 0.5%
Kenya Government International Bond
8.250%, 02/28/2048		1,617		1,184


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
8.000%, 05/22/2032	$	570	$	458
7.000%, 05/22/2027		2,871		2,458
7.000%, 05/22/2027 (B)		423		362
6.875%, 06/24/2024 (B)		4,165		3,826
6.300%, 01/23/2034		540		385
				8,673

Kuwait — 0.1%
Meglobal Canada ULC MTN
5.875%, 05/18/2030 (B)		250		254
NBK SPC
1.625%, U.S. SOFR + 1.050%, 09/15/2027 (A)(B)		1,000		896
NBK Tier 1 Financing 2
4.500%, CMTUSD6Y + 2.832% (A)(B)(F)		693		637
				1,787

Lebanon — 0.3%
Lebanon Government International Bond
8.250%, 05/17/2034 (G)		11,222		626
8.200%, 05/17/2033 (G)		3,557		201
6.850%, 03/23/2027 (G)		1,116		60
6.750%, 11/29/2027 (G)		3,188		175
6.650%, 04/22/2024 (G)		2,000		110
6.000%, 01/27/2023 (G)		738		43
Lebanon Government International Bond MTN
8.250%, 04/12/2021 (G)		21,714		1,241
7.000%, 03/20/2028 (G)		2,671		153
6.850%, 05/25/2029 (G)		2,941		164
6.650%, 11/03/2028 (G)		2,959		161
6.650%, 02/26/2030 (G)		2,063		114
6.600%, 11/27/2026 (G)		2,218		123
6.400%, 05/26/2023 (G)		2,645		155
6.375%, 12/31/2023 (G)		8,235		483
6.250%, 05/27/2022 (G)		409		24
6.150%, 12/31/2023 (G)		4,039		237
6.100%, 10/04/2022 (G)		4,459		261
6.100%, 10/04/2022 (G)		3,411		200
5.800%, 04/14/2023 (G)		6,282		368
				4,899

Macao — 0.0%
Studio City Finance (B)
6.500%, 01/15/2028		507		416
6.000%, 07/15/2025		119		107
				523

Malaysia — 5.3%
Malaysia Government Bond
5.248%, 09/15/2028	MYR	4,975		1,160
4.935%, 09/30/2043		1,200		285
4.921%, 07/06/2048		3,873		932


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
4.893%, 06/08/2038	MYR	7,000	$	1,668
4.762%, 04/07/2037		3,291		768
4.696%, 10/15/2042		4,165		973
4.504%, 04/30/2029		10,966		2,476
4.498%, 04/15/2030		3,507		799
4.392%, 04/15/2026		5,125		1,139
4.254%, 05/31/2035		17,785		3,958
4.232%, 06/30/2031		2,000		445
4.181%, 07/15/2024		22		5
4.065%, 06/15/2050		9,665		2,043
4.059%, 09/30/2024		6,000		1,311
3.955%, 09/15/2025		55,941		12,261
3.906%, 07/15/2026		26,876		5,906
3.900%, 11/30/2026		9,147		2,005
3.899%, 11/16/2027		14,200		3,118
3.885%, 08/15/2029		16,087		3,511
3.882%, 03/14/2025		20,270		4,435
3.828%, 07/05/2034		44,915		9,649
3.757%, 05/22/2040		29,917		6,251
3.733%, 06/15/2028		37,396		8,138
3.582%, 07/15/2032		11,975		2,566
3.502%, 05/31/2027		9,112		1,969
2.632%, 04/15/2031		32,341		6,455
Malaysia Government Investment Issue
4.369%, 10/31/2028		2,000		448
4.119%, 11/30/2034		5,418		1,190
4.070%, 09/30/2026		14,000		3,091
Malaysia Wakala Sukuk
2.070%, 04/28/2031	$	1,770		1,539
Petronas Capital MTN
4.550%, 04/21/2050		1,931		1,775
3.500%, 04/21/2030		1,424		1,333
2.480%, 01/28/2032		1,588		1,350
				94,952

Mexico — 8.9%
Alpek
4.250%, 09/18/2029 (B)		946		847
America Movil
7.125%, 12/09/2024	MXN	23,310		1,227
Banco Mercantil del Norte (B)(F)
7.500%, US Treas Yield Curve Rate T Note Const Mat 10 Yr + 5.470% (A)	$	623		537
6.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.967% (A)		3,302		3,081
Cemex (B)
9.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.907% (A)(F)		1,797		1,804
5.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.534% (A)(F)		277		244
3.875%, 07/11/2031		782		650


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Comision Federal de Electricidad
7.350%, 11/25/2025	MXN	52,305	$	2,685
6.264%, 02/15/2052 (B)	$	405		335
4.750%, 02/23/2027 (B)		364		347
4.688%, 05/15/2029 (B)		2,843		2,539
3.875%, 07/26/2033		800		610
3.348%, 02/09/2031 (B)		605		477
Mexican Bonos
10.000%, 12/05/2024	MXN	70,578		3,935
8.500%, 05/31/2029		296,936		16,462
8.500%, 11/18/2038		201,610		10,878
8.000%, 11/07/2047		149,262		7,557
7.750%, 05/29/2031		392,235		20,727
7.750%, 11/13/2042		195,743		9,699
7.500%, 06/03/2027		268,312		14,271
7.500%, 05/26/2033		9,600		494
5.750%, 03/05/2026		19,946		1,019
5.750%, 03/05/2026		54,364		2,778
Mexico Cetes
0.000%, 02/06/2025 (E)		1,114,585		5,228
Mexico City Airport Trust
5.500%, 07/31/2047 (B)	$	1,068		817
Mexico Government International Bond
6.350%, 02/09/2035		867		914
6.338%, 05/04/2053		3,963		3,974
4.875%, 05/19/2033		713		681
3.771%, 05/24/2061		1,999		1,328
3.750%, 04/19/2071		1,195		781
2.659%, 05/24/2031		3,853		3,199
2.375%, 02/11/2030	EUR	1,170		1,097
2.250%, 08/12/2036		608		469
Mexico Government International Bond MTN
5.750%, 10/12/2110	$	3,650		3,178
Minera Mexico
4.500%, 01/26/2050 (B)		870		657
Petroleos Mexicanos
10.000%, 02/07/2033 (B)		1,371		1,230
10.000%, 02/07/2033		8,746		7,844
7.690%, 01/23/2050		2,789		1,808
6.840%, 01/23/2030		813		634
6.700%, 02/16/2032		2,053		1,538
6.625%, 06/15/2035		8,114		5,482
6.625%, 06/15/2038		205		132
6.500%, 03/13/2027		2,187		1,894
6.500%, 01/23/2029		1,032		843
6.500%, 06/02/2041		646		398
6.490%, 01/23/2027		763		660
6.375%, 01/23/2045		1,124		658
6.350%, 02/12/2048		537		313
5.950%, 01/28/2031		2,484		1,783
5.350%, 02/12/2028		576		465


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Petroleos Mexicanos MTN
6.750%, 09/21/2047	$	4,228	$	2,552
Poinsettia Finance
6.625%, 06/17/2031		7,485		6,194
Tierra Mojada Luxembourg II Sarl
5.750%, 12/01/2040 (B)		262		226
				160,180

Mongolia — 0.4%
Development Bank of Mongolia LLC
7.250%, 10/23/2023 (B)		1,149		1,135
Mongolia Government International Bond
8.650%, 01/19/2028 (B)		2,182		2,155
8.650%, 01/19/2028		230		227
5.125%, 04/07/2026		846		753
3.500%, 07/07/2027		1,586		1,285
Mongolia Government International Bond MTN
8.750%, 03/09/2024		1,231		1,231
				6,786

Morocco — 0.3%
Morocco Government International Bond
6.500%, 09/08/2033 (B)		1,358		1,383
6.500%, 09/08/2033		1,131		1,152
5.950%, 03/08/2028 (B)		2,161		2,186
5.500%, 12/11/2042		260		220
4.000%, 12/15/2050		435		288
				5,229

Mozambique — 0.1%
Mozambique International Bond
5.000%, 09/15/2031 (B)(C)		1,981		1,390
5.000%, 09/15/2031 (C)		400		281
				1,671

Nigeria — 0.9%
IHS Netherlands Holdco BV
8.000%, 09/18/2027 (B)		399		356
Nigeria Government International Bond
9.248%, 01/21/2049		324		245
8.747%, 01/21/2031		2,566		2,143
7.875%, 02/16/2032		1,402		1,099
Nigeria Government International Bond MTN
8.375%, 03/24/2029 (B)		2,094		1,812
8.375%, 03/24/2029		3,584		3,101
8.250%, 09/28/2051		996		673
7.375%, 09/28/2033 (B)		3,148		2,310
7.375%, 09/28/2033		3,908		2,868
6.500%, 11/28/2027 (B)		689		581
6.125%, 09/28/2028 (B)		2,044		1,645
				16,833


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Oman — 1.2%
Oman Government International Bond
7.375%, 10/28/2032 (B)	$	1,101	$	1,200
7.000%, 01/25/2051		1,517		1,468
6.750%, 10/28/2027 (B)		1,605		1,661
6.750%, 10/28/2027		5,940		6,149
6.750%, 01/17/2048 (B)		2,562		2,408
6.750%, 01/17/2048		4,047		3,804
6.500%, 03/08/2047 (B)		897		818
6.500%, 03/08/2047		300		273
6.250%, 01/25/2031		618		626
5.625%, 01/17/2028 (B)		2,879		2,850
Oman Government International Bond MTN
6.000%, 08/01/2029 (B)		367		367
				21,624

Pakistan — 0.2%
Pakistan Government International Bond
8.250%, 09/30/2025		836		357
8.250%, 09/30/2025 (B)		335		143
6.875%, 12/05/2027 (B)		1,073		401
6.875%, 12/05/2027		904		338
Pakistan Government International Bond MTN
7.375%, 04/08/2031		2,889		1,040
6.000%, 04/08/2026 (B)		3,357		1,267
6.000%, 04/08/2026		307		116
				3,662

Panama — 1.5%
Aeropuerto Internacional de Tocumen
5.125%, 08/11/2061 (B)		469		352
AES Panama Generation Holdings SRL
4.375%, 05/31/2030 (B)		633		553
Banco Nacional de Panama
2.500%, 08/11/2030 (B)		1,160		923
Empresa de Transmision Electrica
5.125%, 05/02/2049 (B)		873		694
Panama Bonos del Tesoro
3.362%, 06/30/2031		2,115		1,818
Panama Government International Bond
9.375%, 04/01/2029		448		545
8.125%, 04/28/2034		699		822
6.853%, 03/28/2054		4,456		4,567
6.700%, 01/26/2036		1,489		1,589
6.400%, 02/14/2035		9,624		10,061
4.500%, 04/16/2050		1,018		774
4.500%, 04/01/2056		1,935		1,429
4.500%, 01/19/2063		1,771		1,270
4.300%, 04/29/2053		360		263
2.252%, 09/29/2032		350		269


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Telecomunicaciones Digitales
4.500%, 01/30/2030 (B)	$	227	$	187
				26,116

Papua New Guinea — 0.0%
Papua New Guinea Government International Bond
8.375%, 10/04/2028		850		764


Paraguay — 0.3%
Bioceanico Sovereign Certificate Ltd
0.000%, 06/05/2034 (E)		338		237
Paraguay Government International Bond
6.100%, 08/11/2044		1,480		1,377
5.600%, 03/13/2048		1,167		1,002
5.400%, 03/30/2050		946		792
4.950%, 04/28/2031		356		341
3.849%, 06/28/2033		1,491		1,279
2.739%, 01/29/2033		1,210		959
				5,987

Peru — 3.5%
ABY Transmission Sur
6.875%, 04/30/2043 (B)		305		286
Fondo MIVIVIENDA
7.000%, 02/14/2024 (B)	PEN	5,422		1,448
Kallpa Generacion SA
4.125%, 08/16/2027 (B)	$	875		809
Peru Government Bond
6.950%, 08/12/2031	PEN	3,834		1,038
6.900%, 08/12/2037		1,744		462
6.350%, 08/12/2028		1,303		352
6.150%, 08/12/2032		43,300		11,038
5.940%, 02/12/2029		24,573		6,452
5.400%, 08/12/2034		25,177		5,951
5.350%, 08/12/2040		3,082		688
5.200%, 09/12/2023		1,204		327
Peruvian Government International Bond
8.200%, 08/12/2026		18		5
6.950%, 08/12/2031		14,850		4,021
6.900%, 08/12/2037		4,039		1,071
6.850%, 02/12/2042		882		231
6.350%, 08/12/2028		20,724		5,597
5.400%, 08/12/2034		1,738		411
4.125%, 08/25/2027	$	870		853
3.750%, 03/01/2030	EUR	170		173
3.300%, 03/11/2041	$	577		429
3.230%, 07/28/2121		2,642		1,504
3.000%, 01/15/2034		1,681		1,374
2.783%, 01/23/2031		5,009		4,269
1.950%, 11/17/2036	EUR	2,211		1,633
1.250%, 03/11/2033		3,208		2,473


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Petroleos del Peru
5.625%, 06/19/2047	$	8,793	$	5,339
5.625%, 06/19/2047 (B)		1,432		869
4.750%, 06/19/2032		2,576		1,845
4.750%, 06/19/2032 (B)		1,695		1,214
				62,162

Philippines — 1.0%
Philippine Government International Bond
6.375%, 10/23/2034		300		338
5.609%, 04/13/2033		211		226
5.500%, 01/17/2048		2,566		2,656
5.170%, 10/13/2027		1,237		1,270
5.000%, 07/17/2033		1,905		1,945
5.000%, 01/13/2037		681		679
2.950%, 05/05/2045		1,200		854
2.650%, 12/10/2045		2,966		2,001
1.950%, 01/06/2032		6,405		5,192
1.750%, 04/28/2041	EUR	606		417
1.648%, 06/10/2031	$	2,040		1,629
				17,207

Poland — 3.5%
Bank Gospodarstwa Krajowego MTN
5.375%, 05/22/2033 (B)		1,376		1,375
5.375%, 05/22/2033		575		574
5.125%, 02/22/2033	EUR	1,154		1,276
Poland Government Bond
7.500%, 07/25/2028	PLN	30,195		7,565
3.750%, 05/25/2027		19,013		4,120
3.250%, 07/25/2025		12,260		2,730
2.750%, 04/25/2028		4,835		986
2.750%, 10/25/2029		27,769		5,444
2.500%, 07/25/2026		36,876		7,834
2.500%, 07/25/2027		18,610		3,842
1.750%, 04/25/2032		57,116		9,572
1.250%, 10/25/2030		35,449		6,041
Poland Government International Bond
6.000%, 10/25/2033		6,550		1,540
5.750%, 11/16/2032	$	1,800		1,910
5.500%, 11/16/2027		601		621
5.500%, 04/04/2053		2,987		3,001
4.875%, 10/04/2033		3,325		3,313
0.250%, 10/25/2026	PLN	631		123
Poland Government International Bond MTN
4.250%, 02/14/2043	EUR	509		523
				62,390

Qatar — 1.3%
Qatar Government International Bond
5.103%, 04/23/2048	$	1,583		1,569
4.817%, 03/14/2049 (B)		3,848		3,656
4.817%, 03/14/2049		6,994		6,645
4.500%, 04/23/2028		1,695		1,710


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
4.400%, 04/16/2050 (B)	$	1,731	$	1,563
4.400%, 04/16/2050		1,656		1,495
3.750%, 04/16/2030 (B)		1,895		1,841
3.750%, 04/16/2030		1,045		1,015
QatarEnergy
3.300%, 07/12/2051 (B)		382		274
3.125%, 07/12/2041 (B)		466		352
2.250%, 07/12/2031		3,487		2,938
2.250%, 07/12/2031 (B)		973		820
				23,878

Romania — 2.4%
Romania Government Bond
8.250%, 09/29/2032	RON	9,695		2,224
6.700%, 02/25/2032		22,085		4,600
4.850%, 07/25/2029		16,405		3,152
4.750%, 10/11/2034		3,575		624
4.150%, 01/26/2028		965		185
4.150%, 10/24/2030		4,200		748
3.650%, 07/28/2025		16,080		3,254
3.650%, 09/24/2031		980		167
3.250%, 06/24/2026		4,730		921
2.500%, 10/25/2027		17,540		3,164
Romanian Government International Bond
7.625%, 01/17/2053 (B)	$	1,276		1,352
7.125%, 01/17/2033 (B)		2,112		2,224
7.125%, 01/17/2033		1,088		1,146
6.625%, 02/17/2028 (B)		885		907
5.250%, 11/25/2027 (B)		1,074		1,053
5.250%, 11/25/2027		560		549
5.125%, 06/15/2048		354		289
4.000%, 02/14/2051		242		164
3.624%, 05/26/2030	EUR	590		542
2.750%, 04/14/2041 (B)		381		240
2.625%, 12/02/2040 (B)		592		371
Romanian Government International Bond MTN
7.625%, 01/17/2053	$	1,262		1,337
6.125%, 01/22/2044		312		291
4.625%, 04/03/2049	EUR	1,126		891
3.875%, 10/29/2035		1,450		1,188
3.750%, 02/07/2034		4,072		3,422
3.375%, 02/08/2038 (B)		645		482
3.375%, 01/28/2050 (B)		784		497
3.375%, 01/28/2050		2,427		1,539
2.875%, 04/13/2042		1,290		814
2.875%, 04/13/2042 (B)		773		488
2.500%, 02/08/2030 (B)		935		807
2.125%, 03/07/2028		982		900
2.124%, 07/16/2031		1,246		987
2.000%, 01/28/2032		1,368		1,047


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
2.000%, 04/14/2033	EUR	1,147	$	844
				43,410

Russia — 0.0%
Russian Federal Bond - OFZ
7.050%, 01/19/2028 (G)	RUB	624,386		384
7.000%, 07/30/2036 (G)		127,961		79
Russian Foreign Bond - Eurobond
4.375%, 03/21/2029 (G)	$	4,200		210
Vnesheconombank Via VEB Finance
6.800%, 11/22/2025 (B)		600		30
6.800%, 11/22/2025 (H)		240		13
				716

Saudi Arabia — 1.8%
EIG Pearl Holdings Sarl
3.545%, 08/31/2036 (B)		707		600
Gaci First Investment
5.250%, 10/13/2032		4,156		4,275
5.125%, 02/14/2053		969		876
4.875%, 02/14/2035		1,004		971
Global Sukuk
1.602%, 06/17/2026		1,476		1,347
KSA Sukuk (B)
4.511%, 05/22/2033		2,182		2,153
4.274%, 05/22/2029		7,029		6,886
Saudi Arabian Oil MTN
4.250%, 04/16/2039		1,620		1,438
Saudi Government International Bond
5.500%, 10/25/2032 (B)		2,885		3,047
Saudi Government International Bond MTN
5.000%, 04/17/2049 (B)		1,033		954
5.000%, 01/18/2053 (B)		3,213		2,948
5.000%, 01/18/2053		607		557
4.625%, 10/04/2047 (B)		2,539		2,228
4.500%, 10/26/2046 (B)		704		614
2.250%, 02/02/2033 (B)		3,962		3,221
				32,115

Senegal — 0.2%
Senegal Government International Bond
6.750%, 03/13/2048		1,712		1,135
5.375%, 06/08/2037 (B)	EUR	1,892		1,253
4.750%, 03/13/2028		1,451		1,268
4.750%, 03/13/2028 (B)		350		306
				3,962

Serbia — 0.5%
Serbia International Bond
6.500%, 09/26/2033 (B)	$	666		646
6.500%, 09/26/2033		596		579
6.250%, 05/26/2028 (B)		623		617
3.125%, 05/15/2027	EUR	451		423
1.650%, 03/03/2033		814		554


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.500%, 06/26/2029	EUR	4,238	$	3,385
Serbia International Bond MTN
2.050%, 09/23/2036		1,926		1,206
Serbia Treasury Bonds
5.875%, 02/08/2028	RSD	61,170		568
4.500%, 01/11/2026		24,780		221
4.500%, 08/20/2032		14,680		116
				8,315

South Africa — 5.6%
AngloGold Ashanti Holdings
3.750%, 10/01/2030	$	323		276
Bidvest Group
3.625%, 09/23/2026 (B)		528		468
Eskom Holdings SOC Ltd
4.314%, 07/23/2027		1,785		1,531
Eskom Holdings SOC Ltd MTN
8.450%, 08/10/2028 (B)		1,111		1,014
7.500%, 09/15/2033	ZAR	52,500		1,796
6.350%, 08/10/2028	$	368		332
Sasol Financing USA LLC
8.750%, 05/03/2029 (B)		848		812
6.500%, 09/27/2028		540		478
5.875%, 03/27/2024		661		650
4.375%, 09/18/2026		532		465
South Africa Government International Bond
10.500%, 12/21/2026	ZAR	316,651		16,252
9.000%, 01/31/2040		74,031		2,772
8.875%, 02/28/2035		257,280		10,158
8.750%, 01/31/2044		173,248		6,198
8.750%, 02/28/2048		211,274		7,462
8.500%, 01/31/2037		203,408		7,516
8.250%, 03/31/2032		239,553		9,695
8.000%, 01/31/2030		113,100		4,839
7.300%, 04/20/2052	$	2,763		2,210
7.000%, 02/28/2031	ZAR	221,713		8,545
6.500%, 02/28/2041		33,672		965
6.300%, 06/22/2048	$	200		147
6.250%, 03/31/2036	ZAR	85,399		2,615
5.875%, 09/16/2025	$	1,067		1,052
5.875%, 06/22/2030		199		178
5.875%, 04/20/2032		3,899		3,346
5.750%, 09/30/2049		6,815		4,604
5.650%, 09/27/2047		899		609
4.850%, 09/27/2027		690		637
4.300%, 10/12/2028		1,050		903
Transnet SOC
8.250%, 02/06/2028 (B)		1,666		1,594
				100,119


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
South Korea — 0.6%
Korea Treasury Bond
3.125%, 09/10/2027	KRW	15,624,950	$	11,601


Sri Lanka — 0.5%
Sri Lanka Government International Bond
7.850%, 03/14/2029 (G)	$	2,219		807
7.550%, 03/28/2030 (G)		1,701		621
6.850%, 03/14/2024 (G)		1,445		526
6.825%, 07/18/2026 (B)(G)		1,612		612
6.825%, 07/18/2026 (G)		800		304
6.750%, 04/18/2028 (B)(G)		10,847		3,930
6.350%, 06/28/2024 (G)		1,840		668
6.200%, 05/11/2027 (G)		3,486		1,265
5.750%, 04/18/2023 (G)		912		333
				9,066

Supranational — 0.3%
Africa Finance
2.875%, 04/28/2028 (B)		2,555		2,082
African Export-Import Bank
3.798%, 05/17/2031 (B)		301		243
African Export-Import Bank MTN
3.994%, 09/21/2029 (B)		543		460
Asian Infrastructure Investment Bank MTN
0.000%, 02/08/2038 (E)	MXN	21,800		307
Banque Ouest Africaine de Developpement
5.000%, 07/27/2027 (B)	$	1,274		1,166
4.700%, 10/22/2031 (B)		934		757
4.700%, 10/22/2031		430		348
				5,363

Taiwan — 0.1%
TSMC Arizona
4.250%, 04/22/2032		631		615
3.250%, 10/25/2051		220		166
2.500%, 10/25/2031		254		215
				996

Thailand — 2.7%
Bank of Thailand Bills
0.000%, 08/17/2023 (E)	THB	50,000		1,431
0.000%, 05/09/2024 (E)		47,000		1,326
Thailand Government Bond
5.670%, 03/13/2028		3,000		99
4.875%, 06/22/2029		15,000		495
3.775%, 06/25/2032		22,282		707
3.650%, 06/20/2031		62,000		1,941
3.450%, 06/17/2043		53,528		1,616
3.400%, 06/17/2036		224,984		6,872
3.350%, 06/17/2033		5,000		154
3.300%, 06/17/2038		119,379		3,607
2.875%, 12/17/2028		29,711		880
2.875%, 06/17/2046		18,665		506


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
2.750%, 06/17/2052	THB	2,778	$	72
2.650%, 06/17/2028		352,506		10,344
2.125%, 12/17/2026		10,146		291
2.000%, 12/17/2031		134,008		3,736
2.000%, 06/17/2042		151,480		3,707
1.600%, 12/17/2029		15,000		412
1.600%, 06/17/2035		40,336		1,028
1.585%, 12/17/2035		98,002		2,472
1.450%, 12/17/2024		124,000		3,529
1.250%, 03/12/2028		89,442		2,451
1.000%, 06/17/2027		50,000		1,371
				49,047

Tunisia — 0.4%
Tunisian Republic
6.750%, 10/31/2023 (B)	EUR	962		961
6.375%, 07/15/2026		1,499		851
5.750%, 01/30/2025	$	842		515
5.625%, 02/17/2024	EUR	5,190		4,424
				6,751

Turkey — 1.9%
Aydem Yenilenebilir Enerji
7.750%, 02/02/2027 (B)	$	972		787
Hazine Mustesarligi Varlik Kiralama
9.758%, 11/13/2025		1,280		1,285
7.250%, 02/24/2027 (B)		3,650		3,408
Turkey Government Bond
1.500%, 06/18/2025	TRY	49,314		2,659
Turkey Government International Bond
9.875%, 01/15/2028	$	2,640		2,630
9.375%, 03/14/2029		1,099		1,071
9.125%, 07/13/2030		7,644		7,328
7.250%, 12/23/2023		1,210		1,197
6.875%, 03/17/2036		1,063		855
6.500%, 09/20/2033		999		804
6.375%, 10/14/2025		409		381
6.125%, 10/24/2028		1,486		1,289
5.950%, 01/15/2031		3,917		3,158
5.750%, 03/22/2024		145		141
5.125%, 02/17/2028		1,986		1,679
4.875%, 10/09/2026		847		737
4.750%, 01/26/2026		2,048		1,828
Turkiye Ihracat Kredi Bankasi
9.375%, 01/31/2026 (B)		1,662		1,595
Turkiye Sise ve Cam Fabrikalari AS
6.950%, 03/14/2026 (B)		725		689
Yapi ve Kredi Bankasi MTN
5.850%, 06/21/2024 (B)		632		604
				34,125

Uganda — 0.4%
Uganda Government Bond
16.000%, 05/14/2037	UGX	4,992,600		1,337


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
15.000%, 05/20/2032	UGX	16,027,000	$	4,170
14.250%, 06/22/2034		5,200,000		1,282
14.000%, 05/29/2025		2,635,500		704
				7,493

Ukraine — 0.4%
NAK Naftogaz Ukraine via Kondor Finance
7.125%, 07/19/2026 (G)	EUR	970		235
NPC Ukrenergo
6.875%, 11/09/2028 (B)(G)	$	1,499		244
6.875%, 11/09/2028 (G)		400		65
State Agency of Roads of Ukraine
6.250%, 06/24/2030 (G)		672		110
6.250%, 06/24/2030 (B)(G)		554		90
Ukraine Government International Bond
15.840%, 02/26/2025 (G)	UAH	92,615		1,434
9.750%, 11/01/2030 (G)	$	846		164
7.750%, 09/01/2027 (B)(G)		3,051		580
7.750%, 09/01/2028 (B)(G)		3,030		572
7.750%, 09/01/2028 (G)		1,155		218
7.750%, 09/01/2029 (G)		2,093		396
7.375%, 09/25/2034 (G)		2,509		444
7.253%, 03/15/2035 (G)		1,242		227
6.876%, 05/21/2031 (G)		9,135		1,635
6.876%, 05/21/2031 (B)(G)		423		76
6.750%, 06/20/2028 (G)	EUR	1,790		326
1.258%, 08/01/2041 (A)(B)(G)	$	3,182		923
1.258%, 08/01/2041 (A)(G)		800		232
				7,971

United Arab Emirates — 1.7%
Abu Dhabi Crude Oil Pipeline LLC
4.600%, 11/02/2047 (B)		2,286		2,112
4.600%, 11/02/2047		550		508
3.650%, 11/02/2029 (B)		923		872
Abu Dhabi Government International Bond
3.125%, 09/30/2049		1,466		1,068
Abu Dhabi Government International Bond MTN
3.875%, 04/16/2050		228		190
3.000%, 09/15/2051		970		681
3.000%, 09/15/2051 (B)		764		537
1.700%, 03/02/2031		200		167
1.625%, 06/02/2028		1,810		1,600
Abu Dhabi National Energy PJSC
4.696%, 04/24/2033 (B)		500		499
DAE Funding LLC
3.375%, 03/20/2028 (B)		850		773
DP World MTN (B)
6.850%, 07/02/2037		245		265
5.625%, 09/25/2048		648		599
4.700%, 09/30/2049		822		686


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
DP World Salaam
6.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.750% (A)(F)	$	4,046	$	4,011
Emirate of Dubai Government International Bonds MTN
3.900%, 09/09/2050		670		471
Finance Department Government of Sharjah
6.500%, 11/23/2032 (B)		676		688
Finance Department Government of Sharjah MTN
4.000%, 07/28/2050 (B)		2,246		1,378
3.625%, 03/10/2033		415		337
Galaxy Pipeline Assets Bidco
2.940%, 09/30/2040		5,701		4,593
2.940%, 09/30/2040 (B)		855		689
2.625%, 03/31/2036 (B)		827		671
2.160%, 03/31/2034		1,953		1,662
MDGH GMTN RSC
5.500%, 04/28/2033 (B)		678		719
MDGH GMTN RSC MTN
5.084%, 05/22/2053 (B)		615		612
4.500%, 11/07/2028 (B)		796		792
4.375%, 11/22/2033 (B)		1,001		974
3.950%, 05/21/2050		338		282
Sharjah Sukuk Program MTN
3.854%, 04/03/2026		1,037		999
UAE INTERNATIONAL GOVERNMENT BOND MTN
4.951%, 07/07/2052 (B)		1,118		1,104
4.951%, 07/07/2052		482		476
				31,015

United States — 0.7%
JPMorgan Chase Bank MTN (B)
8.375%, 04/19/2039	IDR	1,563,000		115
7.500%, 06/15/2035		38,746,000		2,770
7.000%, 09/18/2030 (A)		117,660,000		8,132
Sagicor Financial
5.300%, 05/13/2028	$	712		673
				11,690

Uruguay — 0.6%
Uruguay Government International Bond
8.500%, 03/15/2028	UYU	88,279		2,136
8.250%, 05/21/2031		19,962		465
5.750%, 10/28/2034	$	3,870		4,228
5.100%, 06/18/2050		739		725
4.975%, 04/20/2055		2,691		2,585
4.375%, 01/23/2031		683		681
				10,820


Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Uzbekistan — 0.4%
Uzauto Motors AJ
4.850%, 05/04/2026 (B)	$	2,670	$	2,281
4.850%, 05/04/2026		1,050		897
Uzbekistan Government International Bond
3.900%, 10/19/2031		774		615
Uzbekistan Government International Bond MTN
5.375%, 02/20/2029		1,419		1,291
3.700%, 11/25/2030		301		241
Uzbekneftegaz JSC
4.750%, 11/16/2028 (B)		1,187		952
				6,277

Venezuela — 0.1%
Petroleos de Venezuela
9.750%, 05/17/2035 (G)(H)		3,202		74
6.000%, 05/16/2024 (G)(H)		16,821		362
6.000%, 05/16/2024 (G)(H)		7,900		170
6.000%, 05/16/2024 (G)(H)		1,777		38
6.000%, 11/15/2026 (G)		24,577		491
5.500%, 04/12/2037 (G)(H)		1,620		35
5.375%, 04/12/2027 (G)(H)		7,825		156
Venezuela Government International Bond
9.250%, 05/07/2028 (G)		4,965		422
8.250%, 10/13/2024 (G)(H)		4,151		343
7.750%, 10/13/2019 (G)		7,816		449
				2,540

Vietnam — 0.1%
Mong Duong Finance Holdings BV
5.125%, 05/07/2029 (B)		1,594		1,387


Zambia — 0.9%
First Quantum Minerals (B)
6.875%, 03/01/2026 (D)		531		517
6.875%, 10/15/2027		928		884
Zambia Government Bond
13.000%, 08/29/2026	ZMW	2,040		75
13.000%, 12/18/2027		8,370		267
13.000%, 01/25/2031		18,763		484
11.000%, 01/25/2026		27,670		1,020
11.000%, 06/28/2026		118,640		4,172
10.000%, 06/28/2024		99,750		4,408
Zambia Government International Bond
8.970%, 07/30/2027 (G)	$	4,216		2,045
8.500%, 04/14/2024		280		137
5.375%, 09/20/2022 (B)(G)		1,822		815

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open forward foreign currency contracts held by the Fund at May 31, 2023, is as follows:

A list of open OTC swap agreements held by the Fund at May 31, 2023, is as follows:

A list of open centrally cleared swap agreements held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $1,790,312 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(B)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $283,808 ($ Thousands), representing 15.9% of the Net Assets of the Fund.
(C)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(D)	Certain securities or partial positions of certain securities are on loan at May 31, 2023 (see Note 11).
(E)	Zero coupon security.
(F)	Perpetual security with no stated maturity date.
(G)	Security is in default on interest payment.
(H)	Security considered restricted, excluding 144A. The total market value of such securities as of May 31, 2023 was $3,013 ($ Thousands) and represented 0.2% of the Net Assets of the Fund. See table below for acquisition dates and acquisition cost.
(I)	This security was purchased with cash collateral held from securities on loan (see Note 11). The total market value of such securities as of May 31, 2023 was $1,238 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Global Bonds

–

1,677,667

–

1,677,667

Affiliated Partnership

–

1,238

–

1,238

Total Investments in Securities

–

1,678,905

–

1,678,905

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		161			–			–		161
Unrealized Depreciation		(1,789	)		–			–		(1,789	)
Forward Contracts*
Unrealized Appreciation		–			24,474			–		24,474
Unrealized Depreciation		–			(21,813	)		–		(21,813	)
OTC Swaps
Interest Rate Swaps*
Unrealized Appreciation		–			122			–		122
Unrealized Depreciation		–			(977	)		–		(977	)
Centrally Cleared Swaps
Credit Default Swaps*
Unrealized Depreciation		–			(32	)		–		(32	)
Interest Rate Swaps*
Unrealized Appreciation		–			2,155			–		2,155
Unrealized Depreciation		–			(3,159	)		–		(3,159	)
Total Other Financial Instruments		(1,628	)		770			–		(858	)

*	Futures contracts, forward contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

A list of the restricted securities, excluding 144a, held by the Fund at May 31, 2023, is as follows:

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS — 99.7%
U.S. Treasury Inflation-Protected Securities
3.625%, 04/15/2028	$	7,791	$	8,476
2.375%, 01/15/2025		12,576		12,532
2.375%, 01/15/2027		7,793		7,927
2.000%, 01/15/2026		8,062		8,042
1.750%, 01/15/2028		7,625		7,632
1.625%, 10/15/2027		20,041		19,996
1.250%, 04/15/2028		10,477		10,267
0.625%, 01/15/2026		17,087		16,459
0.500%, 01/15/2028		18,190		17,209
0.375%, 07/15/2025		20,325		19,594
0.375%, 01/15/2027		15,845		15,027
0.375%, 07/15/2027		17,651		16,737
0.250%, 01/15/2025		18,520		17,839
0.125%, 07/15/2024		20,269		19,674
0.125%, 10/15/2024		18,062		17,463
0.125%, 04/15/2025		14,765		14,137
0.125%, 10/15/2025		17,234		16,470
0.125%, 10/15/2025		765		731
0.125%, 04/15/2026		13,869		13,125
0.125%, 07/15/2026		17,028		16,145
0.125%, 10/15/2026		19,248		18,190
0.125%, 04/15/2027		19,666		18,412

Total U.S. Treasury Obligations
(Cost $329,437) ($ Thousands)				312,084


Total Investments in Securities — 99.7%
(Cost $329,437) ($ Thousands)			$	312,084

Percentages are based on Net Assets of $313,023 ($ Thousands).

As of May 31, 2023, all of the Fund's investments were considered Level 2, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

See “Glossary” for abbreviations.

The accompanying notes are an integral part of the financial statements.

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS — 42.0%
U.S. Treasury Bills
5.273%, 11/02/2023 (A)	$	3,710	$	3,627
5.105%, 10/26/2023 (A)		3,230		3,161
5.088%, 10/19/2023 (A)		4,975		4,874
4.912%, 10/12/2023 (A)		4,440		4,354
U.S. Treasury Inflation-Protected Securities
1.250%, 04/15/2028		4,005		3,925
U.S. Treasury Notes
4.250%, 05/31/2025		133,530		133,154
4.000%, 12/15/2025		83,975		83,637
3.875%, 04/30/2025		9,800		9,693
3.625%, 05/15/2026		63,050		62,316
3.625%, 05/31/2028		665		661
3.250%, 06/30/2027		14,070		13,729
2.125%, 05/15/2025		43,545		41,660
1.750%, 12/31/2024		59,580		56,920
0.500%, 03/31/2025		90,460		84,138
0.500%, 02/28/2026		100,780		91,419
0.375%, 04/15/2024		102,495		98,251
0.250%, 06/15/2024		96,375		91,617
0.250%, 09/30/2025		69,000		63,019

Total U.S. Treasury Obligations
(Cost $862,668) ($ Thousands)				850,155



CORPORATE OBLIGATIONS — 23.8%
Communication Services — 1.0%
AT&T
2.300%, 06/01/2027		2,000		1,812
Netflix
5.875%, 02/15/2025		915		922


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC
5.152%, 03/20/2028 (B)	$	1,000	$	992
4.738%, 03/20/2025 (B)		825		817
Take-Two Interactive Software
3.300%, 03/28/2024		1,140		1,117
T-Mobile USA
3.750%, 04/15/2027		640		608
2.250%, 02/15/2026		1,205		1,117
Verizon Communications
3.376%, 02/15/2025		9,695		9,440
Warnermedia Holdings
3.755%, 03/15/2027		3,900		3,655

				20,480

Consumer Discretionary — 1.0%
7-Eleven
0.800%, 02/10/2024 (B)		12,395		11,953
Tractor Supply
5.250%, 05/15/2033		400		398
YMCA of Greater New York
2.303%, 08/01/2026		7,980		7,176

				19,527

Consumer Staples — 1.8%
BAT Capital
3.557%, 08/15/2027		895		823
3.222%, 08/15/2024		860		835
Bayer US Finance II LLC
4.375%, 12/15/2028 (B)		245		236
4.250%, 12/15/2025 (B)		580		563
3.875%, 12/15/2023 (B)		745		737
2.850%, 04/15/2025 (B)		520		492
CommonSpirit Health
2.760%, 10/01/2024		460		445
1.547%, 10/01/2025		10,550		9,674
Haleon US Capital LLC
3.024%, 03/24/2024		4,375		4,272
Hormel Foods
0.650%, 06/03/2024		8,800		8,406
Imperial Brands Finance PLC
4.250%, 07/21/2025 (B)		1,035		997
JBS USA LUX / JBS USA Food / JBS USA Finance
5.125%, 02/01/2028 (B)		520		501
3.000%, 02/02/2029 (B)		1,025		865
Keurig Dr Pepper
0.750%, 03/15/2024		7,575		7,296

				36,142


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Energy — 0.7%
Energy Transfer
5.950%, 12/01/2025	$	748	$	755
4.250%, 04/01/2024		250		246
Petroleos Mexicanos
6.700%, 02/16/2032		1,089		816
Plains All American Pipeline/PAA Finance
4.500%, 12/15/2026		1,500		1,450
Saudi Arabian Oil MTN
2.875%, 04/16/2024 (B)		11,985		11,710

				14,977

Financials — 12.9%
American Express
2.250%, 03/04/2025		2,485		2,360
Athene Global Funding
5.810%, SOFRINDX + 0.700%, 05/24/2024 (B)(C)		920		909
2.514%, 03/08/2024 (B)		575		555
Avolon Holdings Funding
3.250%, 02/15/2027 (B)		990		869
2.750%, 02/21/2028 (B)		580		482
2.528%, 11/18/2027 (B)		133		110
Bank of America
3.419%, TSFR3M + 1.040%, 12/20/2028 (C)		5,600		5,150
1.734%, U.S. SOFR + 0.960%, 07/22/2027 (C)		725		646
Bank of America MTN
3.593%, TSFR3M + 1.632%, 07/21/2028 (C)		465		433
3.384%, U.S. SOFR + 1.330%, 04/02/2026 (C)		13,165		12,667
2.551%, U.S. SOFR + 1.050%, 02/04/2028 (C)		2,500		2,263
1.319%, U.S. SOFR + 1.150%, 06/19/2026 (C)		2,215		2,032
Bank of Montreal
3.750%, 07/25/2025 (B)		14,719		14,406
Bank of New York Mellon MTN
3.442%, TSFR3M + 1.331%, 02/07/2028 (C)		1,165		1,107
3.430%, U.S. SOFR + 0.565%, 06/13/2025 (C)		12,570		12,281
Bank of Nova Scotia MTN
3.450%, 04/11/2025		11,780		11,370
Canadian Imperial Bank of Commerce
3.300%, 04/07/2025		12,295		11,834
Citigroup
3.668%, TSFR3M + 1.652%, 07/24/2028 (C)		1,840		1,730


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.520%, TSFR3M + 1.413%, 10/27/2028 (C)	$	1,645	$	1,530
0.981%, U.S. SOFR + 0.669%, 05/01/2025 (C)		8,035		7,665
0.776%, U.S. SOFR + 0.686%, 10/30/2024 (C)		1,165		1,140
Corebridge Financial
3.500%, 04/04/2025 (B)		7,110		6,787
Credit Suisse Group
4.282%, 01/09/2028 (B)		1,075		983
4.194%, U.S. SOFR + 3.730%, 04/01/2031 (B)(C)		2,940		2,584
3.869%, ICE LIBOR USD 3 Month + 1.410%, 01/12/2029 (B)(C)		770		687
2.593%, U.S. SOFR + 1.560%, 09/11/2025 (B)(C)		2,210		2,080
1.305%, SOFRINDX + 0.980%, 02/02/2027 (B)(C)		1,710		1,477
Discover Bank
2.450%, 09/12/2024		987		932
DNB Bank
0.856%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.330%, 09/30/2025 (B)(C)		1,405		1,314
F&G Global Funding
0.900%, 09/20/2024 (B)		10,100		9,402
GA Global Funding Trust
3.850%, 04/11/2025 (B)		4,101		3,929
General Electric MTN
5.706%, ICE LIBOR USD 3 Month + 0.380%, 05/05/2026 (C)		330		328
Global Payments
2.150%, 01/15/2027		1,725		1,540
HSBC Holdings PLC
0.976%, U.S. SOFR + 0.708%, 05/24/2025 (C)		5,000		4,750
Huntington National Bank
4.008%, U.S. SOFR + 1.205%, 05/16/2025 (C)		8,020		7,556
ING Groep
3.869%, U.S. SOFR + 1.640%, 03/28/2026 (C)		1,230		1,187
Jackson National Life Global Funding
1.750%, 01/12/2025 (B)		6,055		5,647
JPMorgan Chase
4.023%, TSFR3M + 1.262%, 12/05/2024 (C)		11,855		11,750
1.578%, U.S. SOFR + 0.885%, 04/22/2027 (C)		3,000		2,695
1.561%, U.S. SOFR + 0.605%, 12/10/2025 (C)		9,595		9,001
1.040%, TSFR3M + 0.695%, 02/04/2027 (C)		4,420		3,952


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Lloyds Banking Group PLC
1.627%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.850%, 05/11/2027 (C)	$	620	$	554
Macquarie Group
1.340%, U.S. SOFR + 1.069%, 01/12/2027 (B)(C)		705		631
Macquarie Group MTN
1.201%, U.S. SOFR + 0.694%, 10/14/2025 (B)(C)		910		852
Metropolitan Life Global Funding I
3.450%, 12/18/2026 (B)		2,500		2,359
Morgan Stanley
0.985%, U.S. SOFR + 0.720%, 12/10/2026 (C)		3,775		3,373
Morgan Stanley MTN
1.512%, U.S. SOFR + 0.858%, 07/20/2027 (C)		2,000		1,781
Morgan Stanley Bank
4.754%, 04/21/2026		8,185		8,153
National Securities Clearing
5.050%, 11/21/2024 (B)		7,700		7,686
Nationwide Building Society
4.363%, ICE LIBOR USD 3 Month + 1.392%, 08/01/2024 (B)(C)		1,864		1,857
Nationwide Mutual Insurance
7.156%, ICE LIBOR USD 3 Month + 2.290%, 12/15/2024 (B)(C)		1,000		999
New York Life Global Funding MTN
3.150%, 06/06/2024 (B)		12,010		11,743
Royal Bank of Canada MTN
1.600%, 01/21/2025		12,025		11,333
Santander UK Group Holdings PLC
1.089%, U.S. SOFR + 0.787%, 03/15/2025 (C)		610		582
Toronto-Dominion Bank
3.815%, 07/25/2025 (B)		6,135		6,009
Toronto-Dominion Bank MTN
1.450%, 01/10/2025		10,220		9,649
Trinity Acquisition
4.625%, 08/15/2023		860		857
UBS Group
1.364%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.080%, 01/30/2027 (B)(C)		385		339
US Bancorp
4.653%, U.S. SOFR + 1.230%, 02/01/2029 (C)		1,465		1,413
Wells Fargo MTN
3.526%, U.S. SOFR + 1.510%, 03/24/2028 (C)		3,950		3,702
2.406%, TSFR3M + 1.087%, 10/30/2025 (C)		12,395		11,843


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.164%, TSFR3M + 1.012%, 02/11/2026 (C)	$	4,145	$	3,914
Willis North America
4.650%, 06/15/2027		615		601

				260,350

Health Care — 1.9%
AbbVie
3.800%, 03/15/2025		35		34
3.750%, 11/14/2023		550		546
Amgen
5.150%, 03/02/2028		2,465		2,485
HCA
5.875%, 02/15/2026		1,500		1,507
5.250%, 04/15/2025		465		461
5.000%, 03/15/2024		610		606
3.125%, 03/15/2027 (B)		1,000		925
Humana
5.700%, 03/13/2026		600		602
3.850%, 10/01/2024		1,500		1,470
Pfizer Investment Enterprises Pte
4.650%, 05/19/2025		18,430		18,387
Revvity
0.850%, 09/15/2024		1,170		1,102
Royalty Pharma PLC
0.750%, 09/02/2023		985		972
Thermo Fisher Scientific
1.215%, 10/18/2024		10,830		10,274

				39,371

Industrials — 0.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
2.450%, 10/29/2026		255		227
1.650%, 10/29/2024		650		610
Air Lease
3.375%, 07/01/2025		400		379
2.200%, 01/15/2027		770		680
BAE Systems Holdings
3.850%, 12/15/2025 (B)		625		604
Boeing
1.433%, 02/04/2024		680		660

				3,160

Information Technology — 1.3%
Hewlett Packard Enterprise
5.900%, 10/01/2024		13,025		13,058
Oracle
5.800%, 11/10/2025		2,160		2,198
1.650%, 03/25/2026		1,865		1,703
Skyworks Solutions
0.900%, 06/01/2023		1,145		1,145


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
VMware
1.000%, 08/15/2024	$	9,175	$	8,664

				26,768

Materials — 0.1%
Amcor Flexibles North America
4.000%, 05/17/2025		1,165		1,131
Berry Global
5.500%, 04/15/2028 (B)		765		757
International Flavors & Fragrances
1.832%, 10/15/2027 (B)		1,375		1,162

				3,050

Real Estate — 0.7%
American Tower
5.250%, 07/15/2028		1,500		1,498
Digital Realty Trust
3.600%, 07/01/2029		615		535
Extra Space Storage
5.700%, 04/01/2028		1,195		1,211
GLP Capital LP / GLP Financing II
4.000%, 01/15/2031		1,370		1,178
Healthcare Trust of America Holdings
3.500%, 08/01/2026		1,555		1,439
Hudson Pacific Properties
5.950%, 02/15/2028		530		419
4.650%, 04/01/2029		575		410
3.950%, 11/01/2027		15		11
Kilroy Realty
3.450%, 12/15/2024		920		878
Life Storage
4.000%, 06/15/2029		1,230		1,136
3.875%, 12/15/2027		1,625		1,526
Physicians Realty
4.300%, 03/15/2027		1,880		1,780
VICI Properties
5.750%, 02/01/2027 (B)		725		716
4.950%, 02/15/2030		15		14
4.625%, 06/15/2025 (B)		625		603
3.875%, 02/15/2029 (B)		110		97

				13,451

Utilities — 2.2%
Alliant Energy Finance LLC
1.400%, 03/15/2026 (B)		1,030		915
American Electric Power
5.750%, 11/01/2027		550		567
2.031%, 03/15/2024		5,795		5,607
Black Hills
5.950%, 03/15/2028		1,175		1,208
Dominion Energy
3.300%, 03/15/2025		1,570		1,518


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Duke Energy
3.750%, 04/15/2024	$	7,200	$	7,085
Eversource Energy
4.200%, 06/27/2024		11,020		10,862
2.900%, 03/01/2027		1,505		1,402
ITC Holdings
4.950%, 09/22/2027 (B)		1,600		1,594
Jersey Central Power & Light
4.700%, 04/01/2024 (B)		1,545		1,527
Metropolitan Edison
4.000%, 04/15/2025 (B)		315		302
NextEra Energy Capital Holdings
2.940%, 03/21/2024		745		729
PacifiCorp
3.600%, 04/01/2024		7,405		7,294
Pennsylvania Electric
5.150%, 03/30/2026 (B)		665		661
Public Service Enterprise Group
2.875%, 06/15/2024		2,825		2,743

				44,014

Total Corporate Obligations
(Cost $494,063) ($ Thousands)				481,290



MORTGAGE-BACKED SECURITIES — 21.4%
Agency Mortgage-Backed Obligations — 13.7%
FHLB
2.200%, 02/28/2025		7,815		7,433
FHLMC
5.125%, 01/27/2025		9,000		8,913
4.050%, 07/21/2025		14,825		14,501
4.000%, 12/30/2024		6,275		6,149
3.500%, 02/01/2034 to 05/01/2035		5,574		5,371
3.151%, 11/25/2025		2,950		2,852
2.500%, 09/01/2030 to 01/01/2052		5,119		4,587
2.000%, 03/01/2052		2,563		2,109
0.600%, 10/20/2025		9,805		8,913
FHLMC ARM
3.866%, ICE LIBOR USD 12 Month + 1.475%, 03/01/2037(C)		4		4
FHLMC CMO, Ser 2005-2922, Cl FE
5.357%, LIBOR USD 1 Month + 0.250%, 02/15/2035(C)		443		436
FHLMC CMO, Ser 2005-2990, Cl LK
5.477%, LIBOR USD 1 Month + 0.370%, 10/15/2034(C)		587		583
FHLMC CMO, Ser 2006-3102, Cl FB
5.407%, LIBOR USD 1 Month + 0.300%, 01/15/2036(C)		201		200


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC CMO, Ser 2006-3136, Cl KF
5.407%, LIBOR USD 1 Month + 0.300%, 04/15/2036(C)	$	223	$	221
FHLMC CMO, Ser 2009-3616, Cl FG
5.757%, LIBOR USD 1 Month + 0.650%, 03/15/2032(C)		257		257
FHLMC CMO, Ser 2010-3762, Cl FP
5.557%, LIBOR USD 1 Month + 0.450%, 03/15/2040(C)		47		47
FHLMC CMO, Ser 2010-3774, Cl EW
3.500%, 12/15/2025		124		122
FHLMC CMO, Ser 2011-3895, Cl FM
5.457%, LIBOR USD 1 Month + 0.350%, 12/15/2040(C)		98		97
FHLMC CMO, Ser 2011-3960, Cl JF
5.557%, LIBOR USD 1 Month + 0.450%, 04/15/2041(C)		12		12
FHLMC CMO, Ser 2012-4048, Cl GF
5.457%, LIBOR USD 1 Month + 0.350%, 10/15/2040(C)		31		31
FHLMC CMO, Ser 2012-4094, Cl BF
5.507%, LIBOR USD 1 Month + 0.400%, 08/15/2032(C)		391		389
FHLMC CMO, Ser 2012-4102, Cl LF
5.357%, LIBOR USD 1 Month + 0.250%, 01/15/2040(C)		67		66
FHLMC CMO, Ser 2013-4203, Cl DM
3.000%, 04/15/2033		183		176
FHLMC CMO, Ser 2014-4379, Cl CD
2.500%, 04/15/2033		148		143
FHLMC CMO, Ser 2015-4482, Cl CA
3.000%, 04/15/2034		226		217
FHLMC Multifamily Structured Pass Through Certificates, Ser K045, Cl A2
3.023%, 01/25/2025		8,995		8,712
FHLMC Multifamily Structured Pass Through Certificates, Ser K062, Cl A2
3.413%, 12/25/2026		1,500		1,451
FHLMC Multifamily Structured Pass Through Certificates, Ser K076, Cl A1
3.725%, 12/25/2027		205		201
FHLMC Multifamily Structured Pass Through Certificates, Ser K159, Cl A1
3.950%, 12/25/2029		7,256		7,145
FHLMC Multifamily Structured Pass Through Certificates, Ser K732, Cl A2
3.700%, 05/25/2025		7,504		7,338
FHLMC Multifamily Structured Pass Through Certificates, Ser KIR1, Cl A2
2.849%, 03/25/2026		2,565		2,445
FHLMC Multifamily Structured Pass Through Certificates, Ser KW01, Cl A2
2.853%, 01/25/2026		1,505		1,441


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF34, Cl A
5.422%, LIBOR USD 1 Month + 0.360%, 08/25/2024(C)	$	155	$	155
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF37, Cl A
5.422%, ICE LIBOR USD 1 Month + 0.360%, 09/25/2027(C)		84		83
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF38, Cl A
5.392%, LIBOR USD 1 Month + 0.330%, 09/25/2024(C)		199		198
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF39, Cl A
5.382%, LIBOR USD 1 Month + 0.320%, 11/25/2024(C)		163		163
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF40, Cl A
5.402%, LIBOR USD 1 Month + 0.340%, 11/25/2027(C)		43		43
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF43, Cl A
5.302%, ICE LIBOR USD 1 Month + 0.240%, 01/25/2028(C)		338		334
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF51, Cl A
5.462%, ICE LIBOR USD 1 Month + 0.400%, 08/25/2025(C)		117		117
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF68, Cl A
5.552%, ICE LIBOR USD 1 Month + 0.490%, 07/25/2026(C)		684		682
FHLMC Multifamily Structured Pass-Through Certificates, Ser KF86, Cl AL
5.352%, ICE LIBOR USD 1 Month + 0.290%, 08/25/2027(C)		420		415
FHLMC Multifamily Structured Pass-Through Certificates, Ser KJ29, Cl A1
0.735%, 01/25/2026		450		432
FHLMC Multifamily Structured Pass-Through Certificates, Ser KJ31, Cl A1
0.569%, 05/25/2026		295		283
FHLMC Multifamily Structured Pass-Through Certificates, Ser KJ32, Cl A1
0.516%, 06/25/2025		548		521
FHLMC Multifamily Structured Pass-Through Certificates, Ser KJ34, Cl A1
0.681%, 06/25/2026		558		516
FHLMC Multifamily Structured Pass-Through Certificates, Ser KJ37, Cl A1
1.679%, 12/25/2027		2,091		1,907


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC Multifamily Structured Pass-Through Certificates, Ser KPLB, Cl A
2.770%, 05/25/2025	$	2,965	$	2,849
FHLMC Multifamily Structured Pass-Through Certificates, Ser Q004, Cl AFL
4.716%, 12 Month Treas Avg + 0.740%, 05/25/2044(C)		395		395
FHLMC STACR REMIC Trust, Ser 2022-DNA2, Cl M1A
6.273%, SOFR30A + 1.300%, 02/25/2042(B)(C)		968		962
FNMA
3.500%, 09/01/2034		3,791		3,642
3.000%, 10/01/2030 to 02/01/2035		5,000		4,776
2.990%, 01/01/2026(C)		669		643
2.890%, 12/01/2025		5,195		4,967
2.690%, 06/01/2026		1,447		1,367
2.500%, 02/01/2031 to 11/01/2034		3,356		3,153
0.700%, 07/30/2025		6,920		6,345
FNMA CMO, Ser 2005-83, Cl FP
5.468%, LIBOR USD 1 Month + 0.330%, 10/25/2035(C)		531		523
FNMA CMO, Ser 2006-31, Cl FP
5.438%, LIBOR USD 1 Month + 0.300%, 05/25/2036(C)		93		92
FNMA CMO, Ser 2006-56, Cl FE
5.568%, LIBOR USD 1 Month + 0.430%, 07/25/2036(C)		445		440
FNMA CMO, Ser 2007-98, Cl FD
5.588%, LIBOR USD 1 Month + 0.450%, 06/25/2037(C)		273		269
FNMA CMO, Ser 2008-24, Cl PF
5.788%, LIBOR USD 1 Month + 0.650%, 02/25/2038(C)		90		90
FNMA CMO, Ser 2010-43, Cl VF
5.688%, LIBOR USD 1 Month + 0.550%, 05/25/2040(C)		327		324
FNMA CMO, Ser 2012-111, Cl NF
5.488%, LIBOR USD 1 Month + 0.350%, 05/25/2042(C)		473		463
FNMA CMO, Ser 2012-113, Cl PB
2.000%, 10/25/2040		505		476
FNMA CMO, Ser 2012-54, Cl CF
5.838%, LIBOR USD 1 Month + 0.700%, 05/25/2042(C)		160		159
FNMA CMO, Ser 2013-116, Cl CB
2.500%, 04/25/2033		157		152
FNMA CMO, Ser 2016-48, Cl UF
5.538%, LIBOR USD 1 Month + 0.400%, 08/25/2046(C)		192		189
FNMA CMO, Ser 2020-10, Cl FA
5.638%, ICE LIBOR USD 1 Month + 0.500%, 03/25/2050(C)		1,173		1,138


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FNMA or FHLMC TBA
5.500%, 06/15/2053	$	12,825	$	12,817
4.500%, 06/15/2053		17,975		17,410
4.000%, 06/15/2053		10,875		10,274
3.500%, 06/15/2053		5,925		5,443
3.000%, 06/15/2053		16,175		14,356
2.500%, 06/15/2053		22,450		19,192
2.000%, 06/15/2053		8,650		7,111
FNMA REMIC CMO, Ser 2019-79, Cl FA
5.638%, ICE LIBOR USD 1 Month + 0.500%, 01/25/2050(C)		421		408
FNMA TBA TBA
5.000%, 06/01/2038		26,425		26,030
FNMA, Ser M15, Cl A2
2.923%, 10/25/2025(C)		984		946
FNMA, Ser M17, Cl A2
2.890%, 11/25/2025(C)		600		577
FNMA, Ser M3, Cl A2
2.702%, 02/25/2026		1,778		1,693
FREMF Mortgage Trust, Ser K37, Cl B
4.584%, 01/25/2047(B)(C)		1,000		985
FRESB Mortgage Trust, Ser SB14, Cl A10F
2.590%, 03/25/2026(C)		213		202
FRESB Mortgage Trust, Ser SB15, Cl A10F
2.350%, 03/25/2026(C)		1,304		1,228
FRESB Mortgage Trust, Ser SB17, Cl A10F
2.420%, 05/25/2026(C)		807		764
FRESB Mortgage Trust, Ser SB50, Cl A10F
3.339%, 04/25/2028(C)		900		856
FRESB Mortgage Trust, Ser SB53, Cl A10F
3.632%, 06/25/2028(C)		4,846		4,662
FRESB Mortgage Trust, Ser SB54, Cl A10F
3.520%, 05/25/2028(C)		1,388		1,328
GNMA
3.000%, 01/20/2027		616		596
GNMA ARM
3.625%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.500%, 02/20/2041(C)		71		70
GNMA CMO, Ser 2007-1, Cl F
5.448%, LIBOR USD 1 Month + 0.300%, 01/20/2037(C)		358		355
GNMA CMO, Ser 2010-98, Cl QF
5.548%, LIBOR USD 1 Month + 0.400%, 01/20/2040(C)		129		129
GNMA CMO, Ser 2011-151, Cl BF
5.498%, LIBOR USD 1 Month + 0.350%, 04/20/2041(C)		291		287
GNMA CMO, Ser 2012-77, Cl FM
5.775%, LIBOR USD 1 Month + 0.670%, 11/16/2039(C)		399		399
GNMA TBA
5.000%, 06/15/2040		1,475		1,457


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
4.500%, 06/01/2039	$	2,975	$	2,891
2.500%, 06/15/2053 to 07/15/2053		10,075		8,819
GNMA, Ser 109, Cl B
3.313%, 10/16/2041(C)		1,064		1,052
GNMA, Ser 157, Cl C
3.150%, 10/16/2054(C)		1,135		1,090
GNMA, Ser 2008-92, Cl E
5.556%, 03/16/2044(C)		372		365
GNMA, Ser 2010-159, Cl D
4.558%, 09/16/2044(C)		379		369
GNMA, Ser 23, Cl D
3.488%, 07/16/2049(C)		362		344


				276,330
Non-Agency Mortgage-Backed Obligations — 7.7%
Ashford Hospitality Trust, Ser 2018-KEYS, Cl A
6.108%, ICE LIBOR USD 1 Month + 1.000%, 06/15/2035(B)(C)		1,525		1,484
Banc of America Commercial Mortgage Trust, Ser BNK3, Cl ASB
3.366%, 02/15/2050		1,115		1,070
Banc of America Funding Trust, Ser 2014-R6, Cl 2A13
5.280%, 07/26/2036(B)(C)		2,268		2,194
BBCMS Mortgage Trust, Ser 2020-BID, Cl A
7.247%, ICE LIBOR USD 1 Month + 2.140%, 10/15/2037(B)(C)		1,000		963
BBCMS Mortgage Trust, Ser C7, Cl A1
1.079%, 04/15/2053		778		746
Benchmark Mortgage Trust, Ser 2020-B17, Cl A2
2.211%, 03/15/2053		9,585		8,941
Benchmark Mortgage Trust, Ser B19, Cl A1
0.628%, 09/15/2053		363		344
Benchmark Mortgage Trust, Ser B5, Cl A2
4.077%, 07/15/2051		1,750		1,743
Benchmark Mortgage Trust, Ser B9, Cl AAB
3.933%, 03/15/2052		1,575		1,511
BMO Mortgage Trust, Ser C3, Cl A1
5.252%, 09/15/2054(C)		1,675		1,654
BOCA Commercial Mortgage Trust, Ser BOCA, Cl A
6.829%, TSFR1M + 1.770%, 05/15/2039(B)(C)		500		494
BX Commercial Mortgage Trust, Ser 2021-VINO, Cl A
5.759%, ICE LIBOR USD 1 Month + 0.652%, 05/15/2038(B)(C)		1,577		1,528
BX Commercial Mortgage Trust, Ser CIP, Cl A
6.028%, ICE LIBOR USD 1 Month + 0.921%, 12/15/2038(B)(C)		1,250		1,212


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
BX Commercial Mortgage Trust, Ser VKNG, Cl A
6.104%, TSFR1M + 1.044%, 10/15/2037(B)(C)	$	984	$	968
BX Trust, Ser 2021-MFM1, Cl A
5.874%, TSFR1M + 0.814%, 01/15/2034(B)(C)		434		423
BX Trust, Ser CALM, Cl B
6.274%, TSFR1M + 1.214%, 11/15/2032(B)(C)		606		597
BX Trust, Ser SDMF, Cl A
5.696%, ICE LIBOR USD 1 Month + 0.589%, 09/15/2034(B)(C)		1,921		1,851
CD Commercial Mortgage Trust, Ser 2016-CD1, Cl ASB
2.622%, 08/10/2049		4,608		4,362
CD Commercial Mortgage Trust, Ser 2017-CD4, Cl ASB
3.317%, 05/10/2050		1,663		1,586
Centex Home Equity Loan Trust, Ser 2006-A, Cl M1
5.588%, ICE LIBOR USD 1 Month + 0.450%, 06/25/2036(C)		69		69
CIM Trust, Ser 2022-I1, Cl A1
4.350%, 02/25/2067(B)(C)		1,107		1,076
CIT Mortgage Loan Trust, Ser 2007-1, Cl 1A
6.488%, ICE LIBOR USD 1 Month + 1.350%, 10/25/2037(B)(C)		77		77
Citigroup Commercial Mortgage Trust, Ser 2015-GC31, Cl AAB
3.431%, 06/10/2048		754		732
Citigroup Commercial Mortgage Trust, Ser 2019-SMRT, Cl A
4.149%, 01/10/2036(B)		1,115		1,105
Citigroup Commercial Mortgage Trust, Ser GC21, Cl AS
4.026%, 05/10/2047		1,375		1,329
Citigroup Commercial Mortgage Trust, Ser GC36, Cl AAB
3.368%, 02/10/2049		719		691
Citigroup Commercial Mortgage Trust, Ser GC37, Cl AAB
3.098%, 04/10/2049		1,119		1,070
Citigroup Commercial Mortgage Trust, Ser PRM2, Cl A
6.058%, ICE LIBOR USD 1 Month + 0.950%, 10/15/2038(B)(C)		1,782		1,729
Citigroup Mortgage Loan Trust, Ser 2006-AMC1, Cl A1
5.428%, ICE LIBOR USD 1 Month + 0.290%, 09/25/2036(B)(C)		1,744		1,640


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Cold Storage Trust, Ser 2020-ICE5, Cl A
6.007%, ICE LIBOR USD 1 Month + 0.900%, 11/15/2037(B)(C)	$	1,474	$	1,445
COMM Mortgage Trust, Ser 2013-CR11, Cl ASB
3.660%, 08/10/2050		16		16
COMM Mortgage Trust, Ser 2014-UBS5, Cl A2
3.031%, 09/10/2047		51		50
COMM Mortgage Trust, Ser 2014-UBS6, Cl ASB
3.387%, 12/10/2047		588		574
COMM Mortgage Trust, Ser CR13, Cl A3
3.928%, 11/10/2046		824		815
COMM Mortgage Trust, Ser CR14, Cl A2
3.147%, 02/10/2047		1,027		1,020
COMM Mortgage Trust, Ser CR8, Cl AM
3.702%, 06/10/2046(B)(C)		371		355
COMM Mortgage Trust, Ser DC1, Cl AM
3.724%, 02/10/2048		930		878
COMM Mortgage Trust, Ser PC1, Cl A4
3.620%, 07/10/2050		1,705		1,649
Connecticut Avenue Securities Trust, Ser 2022-R08, Cl 1M1
7.523%, SOFR30A + 2.550%, 07/25/2042(B)(C)		1,624		1,642
Credit Suisse Mortgage Capital Certificates, Ser 2019-ICE4, Cl A
6.087%, ICE LIBOR USD 1 Month + 0.980%, 05/15/2036(B)(C)		1,496		1,487
Credit Suisse Mortgage Capital Certificates, Ser 2019-ICE4, Cl B
6.337%, ICE LIBOR USD 1 Month + 1.230%, 05/15/2036(B)(C)		1,097		1,086
CSAIL Commercial Mortgage Trust, Ser 2016-C5, Cl ASB
3.533%, 11/15/2048		26		25
CSMC Series, Ser 2014-6R, Cl 15A2
3.007%, ICE LIBOR USD 1 Month + 0.150%, 11/27/2036(B)(C)		1,092		1,047
CSMC Series, Ser 2015-6R, Cl 2A1
4.727%, ICE LIBOR USD 1 Month + 0.200%, 11/27/2046(B)(C)		1,956		1,916
CSMC Trust, Ser 2022-RPL3, Cl A1
3.694%, 03/25/2061(B)(C)		2,754		2,640
DBGS Mortgage Trust, Ser 2018-BIOD, Cl A
6.160%, ICE LIBOR USD 1 Month + 0.803%, 05/15/2035(B)(C)		1,773		1,749
DBJPM Mortgage Trust, Ser C3, Cl ASB
2.756%, 08/10/2049		1,182		1,127
DBWF Mortgage Trust, Ser 2018-GLKS, Cl A
6.262%, ICE LIBOR USD 1 Month + 1.130%, 12/19/2030(B)(C)		1,600		1,575


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Extended Stay America Trust, Ser ESH, Cl A
6.188%, ICE LIBOR USD 1 Month + 1.080%, 07/15/2038(B)(C)	$	2,158	$	2,112
First Franklin Mortgage Loan Trust, Ser 2006-FF18, Cl A1
5.248%, ICE LIBOR USD 1 Month + 0.110%, 12/25/2037(C)		1,893		1,764
GCAT Trust, Ser 2021-NQM6, Cl A1
1.855%, 08/25/2066(B)(C)		2,799		2,364
Great Wolf Trust, Ser WOLF, Cl A
6.208%, TSFR1M + 1.148%, 12/15/2036(B)(C)		1,500		1,480
GS Mortgage Securities Trust, Ser 2016-GS3, Cl AAB
2.777%, 10/10/2049		1,770		1,685
GS Mortgage Securities Trust, Ser GC38, Cl A2
3.872%, 02/10/2052		2,645		2,600
GS Mortgage Securities Trust, Ser GS5, Cl AAB
3.467%, 03/10/2050		874		831
GS Mortgage Securities Trust, Ser GS9, Cl A2
3.839%, 03/10/2051		34		33
GS Mortgage-Backed Securities Trust, Ser 2018-RPL1, Cl A1A
3.750%, 10/25/2057(B)		689		659
GSAA Home Equity Trust, Ser 2005-6, Cl M1
5.783%, ICE LIBOR USD 1 Month + 0.645%, 06/25/2035(C)		933		912
GSAA Home Equity Trust, Ser 2007-8, Cl A3
6.038%, ICE LIBOR USD 1 Month + 0.900%, 08/25/2037(C)		397		383
Houston Galleria Mall Trust, Ser HGLR, Cl A1A1
3.087%, 03/05/2037(B)		1,200		1,123
Impac CMB Trust Series, Ser 2004-6, Cl 1A1
5.938%, ICE LIBOR USD 1 Month + 0.800%, 10/25/2034(C)		731		704
Independence Plaza Trust, Ser INDP, Cl A
3.763%, 07/10/2035(B)		1,095		1,029
JPMBB Commercial Mortgage Securities Trust, Ser 2013-C17, Cl ASB
3.705%, 01/15/2047		39		38
JPMBB Commercial Mortgage Securities Trust, Ser 2014-C21, Cl ASB
3.428%, 08/15/2047		582		572
JPMBB Commercial Mortgage Securities Trust, Ser C31, Cl ASB
3.540%, 08/15/2048		1,152		1,112
JPMCC Commercial Mortgage Securities Trust, Ser JP7, Cl ASB
3.241%, 09/15/2050		4,664		4,420


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
JPMDB Commercial Mortgage Securities Trust, Ser 2016-C2, Cl ASB
2.954%, 06/15/2049	$	528	$	506
JPMDB Commercial Mortgage Securities Trust, Ser C8, Cl A2
4.031%, 06/15/2051		719		717
JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2021-MHC, Cl A
5.907%, ICE LIBOR USD 1 Month + 0.800%, 04/15/2038(B)(C)		1,502		1,468
JPMorgan Chase Commercial Mortgage Securities Trust, Ser JP3, Cl ASB
2.777%, 08/15/2049		3,118		2,967
JPMorgan Chase Commercial Mortgage Securities Trust, Ser MARG, Cl A
6.407%, ICE LIBOR USD 1 Month + 1.100%, 05/15/2034(B)(C)		1,418		1,400
JPMorgan Mortgage Acquisition Trust, Ser 2007-CH4, Cl A5
5.378%, ICE LIBOR USD 1 Month + 0.240%, 05/25/2037(C)		1,456		1,440
JPMorgan Mortgage Acquisition Trust, Ser 2007-CH4, Cl M1
5.368%, ICE LIBOR USD 1 Month + 0.230%, 05/25/2037(C)		3,000		2,861
JPMorgan Mortgage Acquisition Trust, Ser 2007-CH5, Cl A1
5.298%, ICE LIBOR USD 1 Month + 0.160%, 06/25/2037(C)		1,750		1,723
JPMorgan Wealth Management, Ser 2021-CL1, Cl M1
6.273%, SOFR30A + 1.300%, 03/25/2051(B)(C)		2,647		2,333
Key Commercial Mortgage Securities Trust, Ser S1, Cl A1
3.723%, 10/15/2053(B)		316		313
KKR Industrial Portfolio Trust, Ser 2021-KDIP, Cl A
5.724%, TSFR1M + 0.664%, 12/15/2037(B)(C)		1,789		1,767
KNDL Mortgage Trust, Ser 2019-KNSQ, Cl A
6.057%, LIBOR USD 1 Month + 0.800%, 05/15/2036(B)(C)		2,718		2,698
LHOME Mortgage Trust, Ser 2021-RTL3, Cl A1
2.363%, 09/25/2026(B)(D)		2,500		2,380
LSTAR Commercial Mortgage Trust, Ser 2016-4, Cl A2
2.579%, 03/10/2049(B)		1,996		1,992
Merrill Lynch Mortgage Investors Trust, Ser 2004-A, Cl A1
5.598%, ICE LIBOR USD 1 Month + 0.460%, 04/25/2029(C)		169		156


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Mill City Mortgage Loan Trust, Ser 2021-NMR1, Cl A1
1.125%, 11/25/2060(B)(C)	$	2,351	$	2,174
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2013-C13, Cl ASB
3.557%, 11/15/2046		18		18
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2014-C18, Cl ASB
3.621%, 10/15/2047		132		130
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2015-C26, Cl ASB
3.323%, 10/15/2048		355		344
Morgan Stanley Capital I, Ser HR2, Cl ASB
3.509%, 12/15/2050		1,200		1,144
Nationstar Home Equity Loan Trust, Ser 2007-A, Cl AV4
5.368%, ICE LIBOR USD 1 Month + 0.230%, 03/25/2037(C)		121		120
Nationstar Home Equity Loan Trust, Ser 2007-B, Cl 2AV4
5.458%, ICE LIBOR USD 1 Month + 0.320%, 04/25/2037(C)		618		601
Newcastle Mortgage Securities Trust, Ser 2007-1, Cl 1A1
5.328%, ICE LIBOR USD 1 Month + 0.190%, 04/25/2037(C)		1,499		1,411
OBX Trust, Ser 2022-NQM1, Cl A1
2.305%, 11/25/2061(B)(C)		5,578		4,744
Opteum Mortgage Acceptance Asset Backed Pass-Through Certificates 2005-2, Ser 2005-2, Cl M5
6.113%, ICE LIBOR USD 1 Month + 0.975%, 04/25/2035(C)		585		585
PRKCM Trust, Ser 2021-AFC2, Cl A1
2.071%, 11/25/2056(B)(C)		5,535		4,607
RASC Series Trust, Ser 2005-EMX2, Cl M5
6.188%, ICE LIBOR USD 1 Month + 0.700%, 07/25/2035(C)		692		688
RBS Commercial Funding Trust, Ser GSP, Cl A
3.834%, 01/15/2032(B)(C)		2,010		1,930
Structured Asset Securities Mortgage Loan Trust, Ser 2005-WF2, Cl M1
5.708%, ICE LIBOR USD 1 Month + 0.570%, 05/25/2035(C)		80		79
Towd Point Mortgage Trust, Ser 2018-6, Cl A1
3.750%, 03/25/2058(B)(C)		458		436
Towd Point Mortgage Trust, Ser 2019-4, Cl A1
2.900%, 10/25/2059(B)(C)		2,867		2,670


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Towd Point Mortgage Trust, Ser 2019-HY2, Cl A1
6.138%, ICE LIBOR USD 1 Month + 1.000%, 05/25/2058(B)(C)	$	1,525	$	1,518
Towd Point Mortgage Trust, Ser 2020-4, Cl A1
1.750%, 10/25/2060(B)		1,205		1,054
Towd Point Mortgage Trust, Ser 2021-1, Cl A1
2.250%, 11/25/2061(B)(C)		1,735		1,552
Towd Point Mortgage Trust, Ser 2021-SJ1, Cl A1
2.250%, 07/25/2068(B)(C)		859		800
UBS Commercial Mortgage Trust, Ser 2017-C6, Cl ASB
3.504%, 12/15/2050		891		850
UBS Commercial Mortgage Trust, Ser C12, Cl A2
4.152%, 08/15/2051		1,507		1,501
WaMu Mortgage Pass-Through Certificates, Ser 2005-AR15, Cl A1A1
5.658%, ICE LIBOR USD 1 Month + 0.520%, 11/25/2045(C)		916		845
Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl ASB
3.324%, 01/15/2059		1,155		1,121
Wells Fargo Commercial Mortgage Trust, Ser 2020-C56, Cl A1
1.341%, 06/15/2053		547		532
Wells Fargo Commercial Mortgage Trust, Ser BNK1, Cl ASB
2.514%, 08/15/2049		547		523
Wells Fargo Commercial Mortgage Trust, Ser C28, Cl A3
3.290%, 05/15/2048		2,008		1,914
Wells Fargo Commercial Mortgage Trust, Ser C34, Cl ASB
2.911%, 06/15/2049		1,586		1,519
Wells Fargo Commercial Mortgage Trust, Ser C41, Cl ASB
3.390%, 11/15/2050		979		940
Wells Fargo Commercial Mortgage Trust, Ser C52, Cl ASB
2.833%, 08/15/2052		1,400		1,289
Wells Fargo Commercial Mortgage Trust, Ser C57, Cl A1
0.903%, 08/15/2053		1,494		1,401
Wells Fargo Commercial Mortgage Trust, Ser LC16, Cl A4
3.548%, 08/15/2050		951		932


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Wells Fargo Commercial Mortgage Trust, Ser SMP, Cl A
5.982%, ICE LIBOR USD 1 Month + 0.875%, 12/15/2034(B)(C)	$	1,125	$	1,074
WFRBS Commercial Mortgage Trust, Ser C18, Cl A4
3.896%, 12/15/2046		979		963
WFRBS Commercial Mortgage Trust, Ser C21, Cl A5
3.678%, 08/15/2047		1,183		1,145


				155,981
Total Mortgage-Backed Securities
(Cost $445,497) ($ Thousands)				432,311



ASSET-BACKED SECURITIES — 14.4%
Automotive — 6.0%

American Credit Acceptance Receivables Trust, Ser 2020-3, Cl D
2.400%, 06/15/2026 (B)		2,460		2,417
American Credit Acceptance Receivables Trust, Ser 2021-1, Cl D
1.140%, 03/15/2027 (B)		3,386		3,251
Americredit Automobile Receivables Trust, Ser 2019-1, Cl D
3.620%, 03/18/2025		2,375		2,350
AmeriCredit Automobile Receivables Trust, Ser 2021-1, Cl D
1.210%, 12/18/2026		1,171		1,068
AmeriCredit Automobile Receivables Trust, Ser 2022-2, Cl C
5.320%, 04/18/2028		3,000		2,980
CarMax Auto Owner Trust, Ser 2022-2, Cl A4
3.620%, 09/15/2027		3,632		3,507
Carmax Auto Owner Trust, Ser 2023-2, Cl A3
5.050%, 01/18/2028		9,130		9,087
Carmax Auto Owner Trust, Ser 2023-2, Cl B
5.180%, 11/15/2028		1,000		1,000
Chase Auto Owner Trust, Ser 2022-AA, Cl A3
3.980%, 06/25/2027 (B)		1,400		1,370
Donlen Fleet Lease Funding II LLC, Ser 2021-2, Cl B
0.980%, 12/11/2034 (B)		3,743		3,542
Drive Auto Receivables Trust, Ser 2021-2, Cl C
0.870%, 10/15/2027		2,000		1,942
Drive Auto Receivables Trust, Ser 2021-2, Cl D
1.390%, 03/15/2029		2,470		2,312


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Enterprise Fleet Financing LLC, Ser 2022-2, Cl A2
4.650%, 05/21/2029 (B)	$	7,290	$	7,182
Enterprise Fleet Financing LLC, Ser 2023-2, Cl A2
5.560%, 04/22/2030 (B)		6,620		6,635
Enterprise Fleet Funding LLC, Ser 2021-1, Cl A3
0.700%, 12/21/2026 (B)		1,560		1,467
Exeter Automobile Receivables Trust, Ser 2020-1A, Cl E
3.740%, 01/15/2027 (B)		2,750		2,661
Exeter Automobile Receivables Trust, Ser 2021-3A, Cl C
0.960%, 10/15/2026		1,473		1,415
Exeter Automobile Receivables Trust, Ser 2021-4A, Cl C
1.460%, 10/15/2027		2,550		2,436
Exeter Automobile Receivables Trust, Ser 2022-6A, Cl C
6.320%, 05/15/2028		2,015		2,037
Flagship Credit Auto Trust, Ser 2019-4, Cl D
3.120%, 01/15/2026 (B)		2,450		2,367
Flagship Credit Auto Trust, Ser 2020-3, Cl D
2.500%, 09/15/2026 (B)		2,400		2,244
Flagship Credit Auto Trust, Ser 2021-1, Cl C
0.910%, 03/15/2027 (B)		3,030		2,865
Ford Credit Auto Lease Trust, Ser 2023-A, Cl A4
4.830%, 05/15/2026		4,500		4,464
Ford Credit Auto Owner Trust, Ser 2020-2, Cl A
1.060%, 04/15/2033 (B)		9,885		9,002
GTE Auto Receivables Trust, Ser 2023-1, Cl A3
5.180%, 03/15/2028 (B)		8,475		8,399
JPMorgan Chase Bank - CACLN, Ser 2021-2, Cl B
0.889%, 12/26/2028 (B)		1,558		1,500
JPMorgan Chase Bank - CACLN, Ser 2021-3, Cl D
1.009%, 02/26/2029 (B)		1,215		1,144
Nissan Auto Lease Trust, Ser 2023-A, Cl A4
4.800%, 07/15/2027		6,000		5,957
Prestige Auto Receivables Trust, Ser 2022-1A, Cl B
6.550%, 07/17/2028 (B)		1,000		1,006
Santander Consumer Auto Receivables Trust, Ser 2020-BA, Cl B
0.770%, 12/15/2025 (B)		4,527		4,483
Santander Consumer Auto Receivables Trust, Ser 2020-BA, Cl F
7.030%, 08/15/2028 (B)		1,250		1,250


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Santander Drive Auto Receivables Trust, Ser 2019-2, Cl D
3.220%, 07/15/2025	$	485	$	483
Santander Drive Auto Receivables Trust, Ser 2020-4, Cl D
1.480%, 01/15/2027		2,500		2,404
Santander Drive Auto Receivables Trust, Ser 2021-4, Cl B
0.880%, 06/15/2026		1,154		1,138
Toyota Auto Receivables Owner Trust, Ser 2022-C, Cl A3
3.760%, 04/15/2027		6,374		6,235
Westlake Automobile Receivables Trust, Ser 2020-3A, Cl D
1.650%, 02/17/2026 (B)		1,700		1,628
Westlake Automobile Receivables Trust, Ser 2023-1A, Cl B
5.410%, 01/18/2028 (B)		2,940		2,918
World Omni Auto Receivables Trust, Ser 2021-B, Cl B
1.040%, 06/15/2027		3,050		2,794
				120,940

Credit Cards — 2.0%

Capital One Multi-Asset Execution Trust, Ser 2022-A2, Cl A
3.490%, 05/15/2027		8,680		8,447
First National Master Note Trust, Ser 2023-1, Cl A
5.130%, 04/16/2029		5,935		5,932
Golden Credit Card Trust, Ser 2022-4A, Cl A
4.310%, 09/15/2027 (B)		14,100		13,853
Master Credit Card Trust, Ser 2021-1A, Cl A
0.530%, 11/21/2025 (B)		3,500		3,328
Master Credit Card Trust, Ser 2021-1A, Cl B
0.790%, 11/21/2025 (B)		550		521
Synchrony Card Funding LLC, Ser 2022-A1, Cl A
3.370%, 04/15/2028		9,456		9,155
				41,236

Other Asset-Backed Securities — 6.4%

Ameriquest Mortgage Securities Asset-Backed Pass-Through, Ser 2005-R9, Cl M1
5.843%, ICE LIBOR USD 1 Month + 0.705%, 11/25/2035 (C)		1,170		1,142
AMMC CLO 15, Ser 2021-15A, Cl AR3
6.380%, ICE LIBOR USD 3 Month + 1.120%, 01/15/2032 (B)(C)		1,300		1,276


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
AMMC CLO 22, Ser 2018-22A, Cl A
6.285%, ICE LIBOR USD 3 Month + 1.030%, 04/25/2031 (B)(C)	$	900	$	890
AMMC CLO XIII, Ser 2021-13A, Cl A1R2
6.323%, ICE LIBOR USD 3 Month + 1.050%, 07/24/2029 (B)(C)		578		574
BANK, Ser BN14, Cl A2
4.128%, 09/15/2060		377		373
BANK, Ser BN28, Cl A1
0.628%, 03/15/2063		42		42
BANK, Ser BNK7, Cl ASB
3.265%, 09/15/2060		3,355		3,219
BANK, Ser BNK8, Cl ASB
3.314%, 11/15/2050		2,002		1,901
Barings CLO, Ser 2018-3A, Cl A1
6.200%, ICE LIBOR USD 3 Month + 0.950%, 07/20/2029 (B)(C)		335		332
BBCMS Trust, Ser BXH, Cl A
6.107%, ICE LIBOR USD 1 Month + 1.000%, 10/15/2037 (B)(C)		374		364
Bear Stearns Asset Backed Securities Trust, Ser 2006-2, Cl M5
7.163%, ICE LIBOR USD 1 Month + 2.025%, 07/25/2036 (C)		1,027		1,024
Bear Stearns Asset Backed Securities Trust, Ser 2006-HE9, Cl 1A2
5.438%, ICE LIBOR USD 1 Month + 0.300%, 11/25/2036 (C)		2,408		2,305
CF Hippolyta Issuer LLC, Ser 2020-1, Cl A1
1.690%, 07/15/2060 (B)		1,079		975
CIFC Funding, Ser 2018-3RA, Cl A1
6.253%, ICE LIBOR USD 3 Month + 0.980%, 04/24/2031 (B)(C)		409		404
CNH Equipment Trust, Ser 2023-A, Cl A3
4.810%, 08/15/2028		6,160		6,138
Countrywide Asset-Backed Certificates, Ser 2006-BC4, Cl 2A3
5.618%, ICE LIBOR USD 1 Month + 0.480%, 11/25/2036 (C)		693		683
Credit-Based Asset Servicing & Securitization LLC, Ser 2005-CB3, Cl M3
3.706%, ICE LIBOR USD 1 Month + 0.975%, 06/25/2035 (C)		213		210
Dryden 30 Senior Loan Fund, Ser 2017-30A, Cl AR
6.141%, ICE LIBOR USD 3 Month + 0.820%, 11/15/2028 (B)(C)		533		527
EFS Volunteer No. 3 LLC, Ser 2012-1, Cl A3
6.138%, ICE LIBOR USD 1 Month + 1.000%, 04/25/2033 (B)(C)		779		774


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
First Franklin Mortgage Loan Trust, Ser 2006-FF15, Cl A5
5.298%, ICE LIBOR USD 1 Month + 0.160%, 11/25/2036 (C)	$	1,347	$	1,319
First Franklin Mortgage Loan Trust, Ser 2006-FF9, Cl 1A
5.388%, ICE LIBOR USD 1 Month + 0.250%, 06/25/2036 (C)		1,152		1,133
Ford Credit Floorplan Master Owner Trust A, Ser 2019-4, Cl A
2.440%, 09/15/2026		12,000		11,526
Ford Credit Floorplan Master Owner Trust A, Ser 2020-2, Cl A
1.060%, 09/15/2027		2,740		2,502
Fremont Home Loan Trust, Ser 2005-E, Cl 2A4
5.798%, ICE LIBOR USD 1 Month + 0.660%, 01/25/2036 (C)		2,409		2,221
FS Rialto, Ser 2019-FL1, Cl A
6.305%, ICE LIBOR USD 1 Month + 1.200%, 12/16/2036 (B)(C)		749		746
GreatAmerica Leasing Receivables, Ser 2023-1, Cl A3
5.150%, 07/15/2027 (B)		3,235		3,220
Greenwood Park CLO Ltd., Ser 2018-1A, Cl A2
6.270%, ICE LIBOR USD 3 Month + 1.010%, 04/15/2031 (B)(C)		2,250		2,222
Hilton Grand Vacations Trust, Ser 2020-AA, Cl A
2.740%, 02/25/2039 (B)		1,406		1,319
HSI Asset Securitization Trust, Ser 2006-OPT1, Cl M1
5.678%, ICE LIBOR USD 1 Month + 0.540%, 12/25/2035 (C)		523		517
HSI Asset Securitization Trust, Ser 2006-OPT2, Cl M2
5.723%, ICE LIBOR USD 1 Month + 0.585%, 01/25/2036 (C)		621		600
LCM XXI, Ser 2018-21A, Cl AR
6.130%, ICE LIBOR USD 3 Month + 0.880%, 04/20/2028 (B)(C)		297		296
LCM XXIV, Ser 2021-24A, Cl AR
6.230%, ICE LIBOR USD 3 Month + 0.980%, 03/20/2030 (B)(C)		1,087		1,074
LMREC, Ser 2019-CRE3, Cl A
6.527%, ICE LIBOR USD 1 Month + 1.400%, 12/22/2035 (B)(C)		1,230		1,218
Madison Park Funding LII, Ser 2021-52A, Cl X
6.173%, ICE LIBOR USD 3 Month + 0.900%, 01/22/2035 (B)(C)		1,842		1,841


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Madison Park Funding XIX, Ser 2020-19A, Cl A1R2
6.193%, ICE LIBOR USD 3 Month + 0.920%, 01/22/2028 (B)(C)	$	948	$	937
Madison Park Funding XVII, Ser 2021-17A, Cl AR2
6.261%, ICE LIBOR USD 3 Month + 1.000%, 07/21/2030 (B)(C)		1,944		1,924
Magnetite XVIII, Ser 2021-18A, Cl AR2
6.201%, ICE LIBOR USD 3 Month + 0.880%, 11/15/2028 (B)(C)		2,181		2,159
MF1, Ser 2020-FL4, Cl A
6.881%, TSFR1M + 1.814%, 11/15/2035 (B)(C)		582		580
MMAF Equipment Finance LLC, Ser 2020-BA, Cl A4
0.660%, 11/15/2027 (B)		1,435		1,321
Morgan Stanley ABS Capital I Trust, Ser 2006-NC3, Cl A2D
5.678%, ICE LIBOR USD 1 Month + 0.540%, 03/25/2036 (C)		526		501
Morgan Stanley ABS Capital I Trust, Ser 2007-HE7, Cl A2B
6.138%, ICE LIBOR USD 1 Month + 1.000%, 07/25/2037 (C)		1,166		1,128
MVW LLC, Ser 2021-1WA, Cl A
1.140%, 01/22/2041 (B)		1,649		1,497
Navient Private Education Refi Loan Trust, Ser 2019-GA, Cl A
2.400%, 10/15/2068 (B)		5,010		4,650
Navient Private Education Refi Loan Trust, Ser 2020-DA, Cl A
1.690%, 05/15/2069 (B)		2,901		2,628
Navient Private Education Refi Loan Trust, Ser 2020-FA, Cl A
1.220%, 07/15/2069 (B)		3,266		2,921
Navient Private Education Refi Loan Trust, Ser 2020-GA, Cl A
1.170%, 09/16/2069 (B)		2,106		1,878
Navient Private Education Refi Loan Trust, Ser 2020-HA, Cl A
1.310%, 01/15/2069 (B)		2,169		1,978
Navient Private Education Refi Loan Trust, Ser 2021-A, Cl A
0.840%, 05/15/2069 (B)		3,814		3,344
Navient Private Education Refi Loan Trust, Ser 2021-BA, Cl A
0.940%, 07/15/2069 (B)		7,225		6,298
Navient Student Loan Trust, Ser 2015-2, Cl A3
5.708%, ICE LIBOR USD 1 Month + 0.570%, 11/26/2040 (C)		679		658


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Navient Student Loan Trust, Ser 2017-2A, Cl A
6.188%, ICE LIBOR USD 1 Month + 1.050%, 12/27/2066 (B)(C)	$	611	$	604
Nelnet Student Loan Trust, Ser 2012-5A, Cl A
5.738%, ICE LIBOR USD 1 Month + 0.600%, 10/27/2036 (B)(C)		203		199
Nelnet Student Loan Trust, Ser 2021-A, Cl APT1
1.360%, 04/20/2062 (B)		5,826		5,246
New Century Home Equity Loan Trust, Ser 2006-1, Cl A2B
5.498%, ICE LIBOR USD 1 Month + 0.360%, 05/25/2036 (C)		2,095		2,035
Oak Street Investment Grade Net Lease Fund Series, Ser 2021-1A, Cl A1
1.480%, 01/20/2051 (B)		809		710
One New York Plaza Trust, Ser 1NYP, Cl A
6.057%, ICE LIBOR USD 1 Month + 0.950%, 01/15/2036 (B)(C)		952		902
OneMain Financial Issuance Trust, Ser 2020-1A, Cl A
3.840%, 05/14/2032 (B)		726		721
Ownit Mortgage Loan Trust Series, Ser 2006-3, Cl A2D
5.678%, ICE LIBOR USD 1 Month + 0.540%, 03/25/2037 (C)		2,871		2,686
Palmer Square CLO, Ser 2018-1A, Cl A1
6.292%, ICE LIBOR USD 3 Month + 1.030%, 04/18/2031 (B)(C)		500		495
Palmer Square Loan Funding, Ser 2020-1A, Cl A1
6.179%, ICE LIBOR USD 3 Month + 0.800%, 02/20/2028 (B)(C)		146		145
Palmer Square Loan Funding, Ser 2021-2A, Cl A1
6.179%, ICE LIBOR USD 3 Month + 0.800%, 05/20/2029 (B)(C)		1,120		1,108
People's Choice Home Loan Securities Trust, Ser 2005-4, Cl 1A3
5.818%, ICE LIBOR USD 1 Month + 0.680%, 12/25/2035 (C)		1,242		1,176
PFS Financing, Ser 2021-A, Cl A
0.710%, 04/15/2026 (B)		1,350		1,289
PFS Financing, Ser 2022-B, Cl A
5.472%, SOFR30A + 0.600%, 02/15/2026 (B)(C)		2,400		2,395
PHEAA Student Loan Trust, Ser 2016-1A, Cl A
6.288%, ICE LIBOR USD 1 Month + 1.150%, 09/25/2065 (B)(C)		879		868


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Progress Residential Trust, Ser 2019-SFR3, Cl E
3.369%, 09/17/2036 (B)	$	1,110	$	1,056
Progress Residential Trust, Ser 2020-SFR2, Cl A
2.078%, 06/17/2037 (B)		1,877		1,754
RAMP Series Trust, Ser 2006-NC2, Cl A3
5.718%, ICE LIBOR USD 1 Month + 0.580%, 02/25/2036 (C)		196		195
Reese Park CLO, Ser 2021-1A, Cl XR
6.160%, ICE LIBOR USD 3 Month + 0.900%, 10/15/2034 (B)(C)		917		916
Rockford Tower CLO, Ser 2018-2A, Cl A
6.410%, ICE LIBOR USD 3 Month + 1.160%, 10/20/2031 (B)(C)		450		444
Saxon Asset Securities Trust, Ser 2006-3, Cl A3
5.478%, ICE LIBOR USD 1 Month + 0.340%, 10/25/2046 (C)		1,310		1,260
Sierra Timeshare Receivables Funding LLC, Ser 2019-1A, Cl A
3.200%, 01/20/2036 (B)		689		663
Sierra Timeshare Receivables Funding LLC, Ser 2019-3A, Cl A
2.340%, 08/20/2036 (B)		524		495
SLC Student Loan Trust, Ser 2007-1, Cl A4
5.381%, ICE LIBOR USD 3 Month + 0.060%, 05/15/2029 (C)		422		419
SLM Student Loan Trust, Ser 2005-5, Cl A4
5.395%, ICE LIBOR USD 3 Month + 0.140%, 10/25/2028 (C)		42		42
SLM Student Loan Trust, Ser 2012-2, Cl A
5.838%, ICE LIBOR USD 1 Month + 0.700%, 01/25/2029 (C)		744		712
SLM Student Loan Trust, Ser 2013-2, Cl A
5.588%, ICE LIBOR USD 1 Month + 0.450%, 06/25/2043 (C)		909		885
SLM Student Loan Trust, Ser 2013-4, Cl A
5.688%, ICE LIBOR USD 1 Month + 0.550%, 06/25/2027 (C)		919		890
SMB Private Education Loan Trust, Ser 2021-B, Cl A
1.310%, 07/17/2051 (B)		639		567
SoFi Professional Loan Program Trust, Ser 2021-B, Cl AFX
1.140%, 02/15/2047 (B)		1,053		887
Stack Infrastructure Issuer LLC, Ser 2019-2A, Cl A2
3.080%, 10/25/2044 (B)		740		703
Stack Infrastructure Issuer LLC, Ser 2020-1A, Cl A2
1.893%, 08/25/2045 (B)		1,000		908


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
STWD, Ser 2019-FL1, Cl A
6.251%, TSFR1M + 1.194%, 07/15/2038 (B)(C)	$	993	$	992
Tricon American Homes Trust, Ser 2017-SFR2, Cl A
2.928%, 01/17/2036 (B)		1,665		1,628
Tricon American Homes Trust, Ser 2017-SFR2, Cl B
3.275%, 01/17/2036 (B)		1,545		1,513
Vantage Data Centers Issuer LLC, Ser 2020-1A, Cl A2
1.645%, 09/15/2045 (B)		1,086		976
Voya CLO, Ser 2021-2A, Cl A1R
6.240%, ICE LIBOR USD 3 Month + 0.980%, 06/07/2030 (B)(C)		1,664		1,640
Wells Fargo Home Equity Trust, Ser 2006-1, Cl M3
5.633%, ICE LIBOR USD 1 Month + 0.495%, 05/25/2036 (C)		875		868
				130,301

Total Asset-Backed Securities
(Cost $299,200) ($ Thousands)				292,477


MUNICIPAL BONDS — 2.3%
Alabama — 0.2%
Alabama State, Federal Aid Highway Finance Authority, Ser B, RB
1.038%, 09/01/2025		5,635		5,187


Colorado — 0.2%
Denver, Airport System Revenue, Ser C, RB
1.115%, 11/15/2024		3,475		3,280


Florida — 0.4%
County of Miami-Dade Florida Aviation Revenue, Ser C, RB
3.505%, 10/01/2025		2,250		2,173
Hillsborough County, Aviation Authority, Sub-Ser, RB
2.036%, 10/01/2024		2,575		2,457
Miami-Dade County, Aviation Revenue, Ser B, RB
2.949%, 10/01/2025		3,145		3,000
1.229%, 10/01/2025		370		339

				7,969


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Illinois — 0.5%
State of Illinois, Ser A, RB
5.254%, 05/01/2025	$	4,770	$	4,764
5.213%, 05/01/2026		5,215		5,230

				9,994

Massachusetts — 0.1%
Massachusetts State, Ser B, RB
4.110%, 07/15/2031		1,530		1,502


New Jersey — 0.2%
New Jersey State, Turnpike Authority, Ser B, RB
0.638%, 01/01/2024		3,595		3,493


New York — 0.5%
New York City, Transitional Finance Authority, Future Tax Secured Revenue, Ser B, RB
2.310%, 11/01/2026		820		760
New York State, Dormitory Authority, RB
0.887%, 03/15/2025 (E)		9,775		9,137
New York State, Dormitory Authority, Ser D, RB
5.000%, 03/15/2024		950		947

				10,844

Texas — 0.2%
City of Houston Texas Airport System Revenue, Sub-Ser C, RB
1.272%, 07/01/2024		1,600		1,529
Dallas Fort Worth International Airport, Ser A, RB
2.156%, 11/01/2025		2,400		2,259

				3,788


Total Municipal Bonds
(Cost $47,787) ($ Thousands)				46,057



COMMERCIAL PAPER — 0.6%
Financials — 0.6%
Chesham Finance LLC
5.081%, 06/01/2023 (A)		12,000		11,998



Total Commercial Paper
(Cost $12,000) ($ Thousands)				11,998

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $2,024,072 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Interest rate represents the security's effective yield at the time of purchase.
(B)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $369,353 ($ Thousands), representing 18.2% of the Net Assets of the Fund.
(C)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(D)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(E)	Security is escrowed to maturity.

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

U.S. Treasury Obligations

–

850,155

–

850,155

Corporate Obligations

–

481,290

–

481,290

Mortgage-Backed Securities

–

432,311

–

432,311

Asset-Backed Securities

–

292,477

–

292,477

Municipal Bonds

–

46,057

–

46,057

Commercial Paper

–

11,998

–

11,998

Cash Equivalent

28,539

–

28,539

Total Investments in Securities

28,539

2,114,288

–

2,142,827

Other Financial Instruments	Level 1 ($)			Level 2 ($)		Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		82			–		–		82
Unrealized Depreciation		(421	)		–		–		(421	)
Total Other Financial Instruments		(339	)		–		–		(339	)

*	Futures contracts are valued at the unrealized depreciation on the instruments.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 85.1%
Communication Services — 4.6%
Alphabet
2.250%, 08/15/2060	$	1,273	$	759
America Movil
6.125%, 03/30/2040		775		825
AT&T
8.750%, 11/15/2031		1,150		1,377
6.800%, 05/15/2036		2,915		3,098
4.900%, 08/15/2037		3,040		2,863
3.650%, 06/01/2051		3,295		2,390
3.500%, 09/15/2053		4,515		3,134
2.250%, 02/01/2032		2,430		1,946
Charter Communications Operating LLC / Charter Communications Operating Capital
4.908%, 07/23/2025		115		113
Comcast
6.450%, 03/15/2037		6,445		7,191
5.650%, 06/15/2035		315		330
5.350%, 11/15/2027		3,037		3,124
5.350%, 05/15/2053		6,920		6,886
4.550%, 01/15/2029		8,005		7,973
4.200%, 08/15/2034		11,767		11,064
3.969%, 11/01/2047		3,878		3,175
3.950%, 10/15/2025		2,640		2,595
3.900%, 03/01/2038		1,575		1,373
3.400%, 04/01/2030		1,290		1,192
3.400%, 07/15/2046		1,270		952
3.375%, 08/15/2025		2,785		2,705
3.300%, 02/01/2027		1,870		1,789
3.150%, 03/01/2026		3,940		3,805
2.987%, 11/01/2063		4,549		2,820
2.937%, 11/01/2056		5,978		3,830
2.887%, 11/01/2051		3,645		2,400


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
1.500%, 02/15/2031	$	17,145	$	13,612
Cox Communications
1.800%, 10/01/2030 (A)		3,600		2,826
Crown Castle Towers LLC
3.663%, 05/15/2025 (A)		3,940		3,770
Discovery Communications LLC
5.000%, 09/20/2037		1		1
Meta Platforms
5.750%, 05/15/2063		2,145		2,135
5.600%, 05/15/2053		6,745		6,741
4.950%, 05/15/2033		1,975		1,970
4.800%, 05/15/2030		12,130		12,170
4.450%, 08/15/2052		2,573		2,177
Paramount Global
6.875%, 04/30/2036		2,760		2,700
5.850%, 09/01/2043		624		519
4.375%, 03/15/2043		3,510		2,434
Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC
5.152%, 03/20/2028 (A)		9,550		9,480
Time Warner Cable LLC
6.750%, 06/15/2039		1,635		1,548
6.550%, 05/01/2037		2,145		2,043
T-Mobile USA
4.500%, 04/15/2050		3,110		2,651
2.050%, 02/15/2028		4,220		3,679
Verizon Communications
7.750%, 12/01/2030		1,750		2,029
4.329%, 09/21/2028		3,235		3,144
4.272%, 01/15/2036		3,735		3,367
2.987%, 10/30/2056		1,857		1,147
1.750%, 01/20/2031		1,478		1,167
Vodafone Group PLC
5.625%, 02/10/2053		2,960		2,827
Walt Disney
6.400%, 12/15/2035		1,255		1,406
4.625%, 03/23/2040		855		811
3.600%, 01/13/2051		3,240		2,501
3.500%, 05/13/2040		6,170		5,066
2.750%, 09/01/2049		8,708		5,794
2.000%, 09/01/2029		2,835		2,431
Warnermedia Holdings
5.141%, 03/15/2052		6,585		5,139
5.050%, 03/15/2042		3,010		2,435
4.279%, 03/15/2032		2,625		2,294

				191,723

Consumer Discretionary — 3.3%
7-Eleven
0.800%, 02/10/2024 (A)		1,669		1,610


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Air Canada Pass-Through Trust, Ser 2015-1, Cl A
3.600%, 03/15/2027 (A)	$	3,071	$	2,866
Amazon.com
3.950%, 04/13/2052		14,433		12,351
3.875%, 08/22/2037		4,685		4,294
3.100%, 05/12/2051		10,270		7,513
2.800%, 08/22/2024		3,335		3,250
1.650%, 05/12/2028		2,830		2,495
American Honda Finance MTN
2.300%, 09/09/2026		3,200		2,969
Aptiv PLC / Aptiv Corp
2.396%, 02/18/2025		3,585		3,407
BMW US Capital LLC
3.250%, 04/01/2025 (A)		1,360		1,322
2.550%, 04/01/2031 (A)		11,170		9,591
British Airways Pass-Through Trust, Ser 2020-1A
4.250%, 11/15/2032 (A)		1,918		1,782
Ferguson Finance PLC
4.500%, 10/24/2028 (A)		1,717		1,654
3.250%, 06/02/2030 (A)		5,290		4,595
General Motors Financial
1.700%, 08/18/2023		8,245		8,176
Home Depot
4.500%, 09/15/2032		9		9
4.500%, 12/06/2048		2,290		2,098
4.400%, 03/15/2045		4,692		4,215
3.900%, 06/15/2047		1,505		1,258
3.500%, 09/15/2056		3,500		2,639
3.350%, 09/15/2025		620		603
3.350%, 04/15/2050		855		638
3.300%, 04/15/2040		1,035		830
3.250%, 04/15/2032		11,159		10,088
2.800%, 09/14/2027		3,775		3,545
2.750%, 09/15/2051		3,000		1,974
1.375%, 03/15/2031		3,519		2,786
Hyundai Capital America
1.250%, 09/18/2023 (A)		5,675		5,595
Lowe's
1.300%, 04/15/2028		3,000		2,557
Massachusetts Institute of Technology
5.600%, 07/01/2111		3,930		4,328
President & Fellows of Harvard College
3.745%, 11/15/2052		6,157		5,244
Resorts World Las Vegas LLC / RWLV Capital
4.625%, 04/06/2031 (A)		2,465		1,877
Toyota Motor Credit MTN
4.800%, 01/10/2025		15,805		15,797


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Volkswagen Group of America Finance LLC
1.250%, 11/24/2025 (A)	$	4,030	$	3,645

				137,601

Consumer Staples — 5.7%
Altria Group
9.950%, 11/10/2038		1,818		2,428
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide
4.900%, 02/01/2046		9,250		8,785
4.700%, 02/01/2036		8,021		7,857
Anheuser-Busch InBev Worldwide
8.000%, 11/15/2039		5,774		7,345
5.550%, 01/23/2049		7,730		8,084
4.750%, 01/23/2029		5,220		5,257
4.600%, 04/15/2048		1,475		1,355
BAT Capital
4.390%, 08/15/2037		3,458		2,735
2.259%, 03/25/2028		5,855		5,031
Constellation Brands
4.900%, 05/01/2033		3,810		3,743
Costco Wholesale
1.600%, 04/20/2030		3,000		2,514
CVS Pass-Through Trust
8.353%, 07/10/2031 (A)		1,655		1,761
7.507%, 01/10/2032 (A)		1,149		1,216
6.036%, 12/10/2028		1,942		1,960
4.163%, 08/11/2036 (A)		1,696		1,477
Diageo Capital
5.300%, 10/24/2027		3,786		3,895
General Mills
4.950%, 03/29/2033		8,990		8,982
Hormel Foods
0.650%, 06/03/2024		3,245		3,100
JBS USA LUX / JBS USA Food / JBS USA Finance
6.500%, 12/01/2052 (A)		9,700		8,774
5.750%, 04/01/2033 (A)		3,365		3,138
5.125%, 02/01/2028 (A)		11,000		10,600
3.000%, 02/02/2029 (A)		3,250		2,741
2.500%, 01/15/2027 (A)		5,110		4,465
JDE Peet's
0.800%, 09/24/2024 (A)		11,970		11,161
Kenvue
5.200%, 03/22/2063 (A)		1,070		1,075
5.100%, 03/22/2043 (A)		4,005		4,031
5.050%, 03/22/2053 (A)		4,225		4,253
Kraft Heinz Foods
5.000%, 06/04/2042		3,200		2,982
Mars
4.750%, 04/20/2033 (A)		17,270		17,145
4.200%, 04/01/2059 (A)		1,620		1,336


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.600%, 04/01/2034 (A)	$	1,790	$	1,606
3.200%, 04/01/2030 (A)		2,435		2,230
2.700%, 04/01/2025 (A)		6,350		6,096
Nestle Holdings
5.250%, 03/13/2026 (A)		3,610		3,666
3.500%, 09/24/2025 (A)		5,685		5,532
Northwestern University
4.643%, 12/01/2044		120		117
3.662%, 12/01/2057		2,340		1,855
PepsiCo
4.200%, 07/18/2052		1,730		1,596
Philip Morris International
5.750%, 11/17/2032		3,550		3,638
5.625%, 11/17/2029		5,905		6,050
5.125%, 11/17/2027		6,795		6,865
4.500%, 03/20/2042		2,830		2,406
4.375%, 11/15/2041		2,207		1,851
3.875%, 08/21/2042		3,890		3,006
0.875%, 05/01/2026		3,360		3,012
Reynolds American
8.125%, 05/01/2040		980		1,056
7.250%, 06/15/2037		2,870		3,018
4.450%, 06/12/2025		1,975		1,932
Roche Holdings
2.625%, 05/15/2026 (A)		3,145		2,992
1.930%, 12/13/2028 (A)		10,791		9,474
Rush Obligated Group
3.922%, 11/15/2029		3,828		3,560
Takeda Pharmaceutical
2.050%, 03/31/2030		3,352		2,799
Walmart
4.500%, 04/15/2053		9,446		9,053
3.900%, 04/15/2028		4,040		3,995

				236,631

Energy — 4.6%
Baker Hughes Holdings LLC / Baker Hughes Co-Obligor
3.337%, 12/15/2027		1,408		1,318
2.061%, 12/15/2026		3,887		3,528
BP Capital Markets America
4.893%, 09/11/2033		9,825		9,761
3.937%, 09/21/2028		2,640		2,556
3.379%, 02/08/2061		3,001		2,089
3.060%, 06/17/2041		365		271
3.001%, 03/17/2052		2,140		1,440
3.000%, 02/24/2050		370		252
2.939%, 06/04/2051		4,480		2,993
2.772%, 11/10/2050		2,030		1,321
2.721%, 01/12/2032		1,695		1,445
BP Capital Markets PLC
3.723%, 11/28/2028		10,659		10,205


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Cameron LNG LLC
2.902%, 07/15/2031 (A)	$	478	$	416
Cenovus Energy
6.750%, 11/15/2039		2,050		2,142
Cheniere Corpus Christi Holdings LLC
5.125%, 06/30/2027		2,120		2,102
3.700%, 11/15/2029		2,205		2,011
2.742%, 12/31/2039		2,925		2,331
Chevron
2.895%, 03/03/2024		4,815		4,737
2.236%, 05/11/2030		7,687		6,726
Colonial Enterprises
3.250%, 05/15/2030 (A)		4,050		3,608
ConocoPhillips
4.025%, 03/15/2062		4,165		3,317
Devon Energy
5.600%, 07/15/2041		1,540		1,429
Diamondback Energy
6.250%, 03/15/2033		4,130		4,288
Enbridge
5.700%, 03/08/2033		3,345		3,402
Energy Transfer
5.250%, 04/15/2029		5,000		4,937
4.000%, 10/01/2027		1,530		1,446
Enterprise Products Operating LLC
5.350%, 01/31/2033		2,760		2,813
EOG Resources
4.375%, 04/15/2030		2,330		2,296
Equinor
3.250%, 11/18/2049		5,015		3,709
2.875%, 04/06/2025		3,480		3,362
Exxon Mobil
4.227%, 03/19/2040		1,385		1,268
4.114%, 03/01/2046		1,965		1,705
3.452%, 04/15/2051		3,500		2,685
3.095%, 08/16/2049		1,235		896
2.995%, 08/16/2039		2,830		2,213
Galaxy Pipeline Assets Bidco
2.625%, 03/31/2036 (A)		2,555		2,072
1.750%, 09/30/2027 (A)		3,227		2,987
Hess
6.000%, 01/15/2040		5,910		5,827
HF Sinclair
5.875%, 04/01/2026		2,080		2,090
MPLX
5.000%, 03/01/2033		2,360		2,270
4.950%, 03/14/2052		2,580		2,124
Sabal Trail Transmission LLC
4.246%, 05/01/2028 (A)		4,150		3,953
Sabine Pass Liquefaction LLC
5.900%, 09/15/2037 (A)		3,265		3,302
5.750%, 05/15/2024		3,000		2,994


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Saudi Arabian Oil
1.250%, 11/24/2023 (A)	$	7,665	$	7,499
Schlumberger Investment
4.850%, 05/15/2033		5,815		5,759
3.650%, 12/01/2023		4,165		4,129
Shell International Finance BV
6.375%, 12/15/2038		1,850		2,065
4.550%, 08/12/2043		3,550		3,247
4.125%, 05/11/2035		4,275		3,970
4.000%, 05/10/2046		5,085		4,261
3.750%, 09/12/2046		4,600		3,691
2.500%, 09/12/2026		375		352
2.375%, 11/07/2029		3,235		2,846
Spectra Energy Partners LP
3.375%, 10/15/2026		2,220		2,099
Tennessee Gas Pipeline LLC
8.375%, 06/15/2032		3,445		3,954
2.900%, 03/01/2030 (A)		4,230		3,635
Texas Eastern Transmission LP
3.500%, 01/15/2028 (A)		3,373		3,145
TotalEnergies Capital
3.883%, 10/11/2028		5,330		5,196
TotalEnergies Capital International
3.386%, 06/29/2060		745		534
3.127%, 05/29/2050		2,615		1,861
2.986%, 06/29/2041		295		223
TransCanada PipeLines
3.750%, 10/16/2023		5,000		4,984

				192,087

Financials — 32.9%
AIA Group
3.600%, 04/09/2029 (A)		9,500		8,934
AIG SunAmerica Global Financing X
6.900%, 03/15/2032 (A)		1,821		1,963
American Express
5.850%, 11/05/2027		4,730		4,914
4.900%, 02/13/2026		3,000		2,997
American International Group
4.800%, 07/10/2045		330		290
4.375%, 06/30/2050		210		174
Ameriprise Financial
4.000%, 10/15/2023		2,450		2,435
Antares Holdings
3.950%, 07/15/2026 (A)		2,915		2,540
ANZ New Zealand International
1.250%, 06/22/2026 (A)		6,840		6,098
Apollo Management Holdings
4.400%, 05/27/2026 (A)		1,140		1,093
4.000%, 05/30/2024 (A)		6,943		6,809
ASB Bank
1.625%, 10/22/2026 (A)		5,535		4,936


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Athene Global Funding
2.950%, 11/12/2026 (A)	$	10,525	$	9,433
2.500%, 03/24/2028 (A)		5,135		4,307
Banco Bilbao Vizcaya Argentaria
1.125%, 09/18/2025		4,605		4,162
Banco Santander
2.706%, 06/27/2024		8,435		8,162
1.722%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.900%, 09/14/2027 (B)		820		716
Bank of America
6.000%, 10/15/2036		520		556
5.288%, U.S. SOFR + 1.910%, 04/25/2034 (B)		8,665		8,610
4.571%, U.S. SOFR + 1.830%, 04/27/2033 (B)		13,065		12,273
3.419%, TSFR3M + 1.040%, 12/20/2028 (B)		8,940		8,221
3.366%, TSFR3M + 1.072%, 01/23/2026 (B)		12,525		12,033
3.311%, U.S. SOFR + 1.580%, 04/22/2042 (B)		9,500		7,120
2.592%, U.S. SOFR + 2.150%, 04/29/2031 (B)		6,300		5,291
2.572%, U.S. SOFR + 1.210%, 10/20/2032 (B)		6,000		4,872
Bank of America MTN
4.948%, U.S. SOFR + 2.040%, 07/22/2028 (B)		4,540		4,490
4.271%, TSFR3M + 1.572%, 07/23/2029 (B)		11,015		10,470
4.244%, TSFR3M + 2.076%, 04/24/2038 (B)		4,228		3,725
4.183%, 11/25/2027		8,335		7,990
3.705%, TSFR3M + 1.512%, 04/24/2028 (B)		22,445		21,098
3.559%, TSFR3M + 1.322%, 04/23/2027 (B)		735		697
3.248%, 10/21/2027		4,125		3,859
2.972%, U.S. SOFR + 1.330%, 02/04/2033 (B)		1,650		1,376
2.884%, TSFR3M + 1.452%, 10/22/2030 (B)		2,870		2,472
2.676%, U.S. SOFR + 1.930%, 06/19/2041 (B)		32,178		22,088
1.843%, U.S. SOFR + 0.670%, 02/04/2025 (B)		10,975		10,671
Bank of Montreal MTN
1.250%, 09/15/2026		3,825		3,381
Bank of New York Mellon MTN
5.834%, SOFRINDX + 2.074%, 10/25/2033 (B)		6,647		6,988
2.450%, 08/17/2026		775		717


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Bank of Nova Scotia
4.900%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.551%(B)(C)	$	3,150	$	2,868
0.650%, 07/31/2024		5,281		4,984
Barclays PLC
7.325%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 3.050%, 11/02/2026 (B)		5,795		6,008
3.932%, ICE LIBOR USD 3 Month + 1.610%, 05/07/2025 (B)		5,285		5,172
Berkshire Hathaway
4.500%, 02/11/2043		865		820
Berkshire Hathaway Finance
3.850%, 03/15/2052		4,960		4,046
1.450%, 10/15/2030		4,000		3,266
Blackstone Holdings Finance LLC
5.000%, 06/15/2044 (A)		738		632
4.450%, 07/15/2045 (A)		1,534		1,218
3.500%, 09/10/2049 (A)		2,250		1,481
3.150%, 10/02/2027 (A)		1,878		1,723
2.550%, 03/30/2032 (A)		2,000		1,569
2.000%, 01/30/2032 (A)		4,010		3,012
Blackstone Private Credit Fund
2.625%, 12/15/2026		2,000		1,705
Blackstone Secured Lending Fund
3.625%, 01/15/2026		3,105		2,859
BNP Paribas
5.125%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.450%, 01/13/2029 (A)(B)		5,030		5,013
2.219%, U.S. SOFR + 2.074%, 06/09/2026 (A)(B)		4,725		4,385
2.159%, U.S. SOFR + 1.218%, 09/15/2029 (A)(B)		2,305		1,937
1.323%, U.S. SOFR + 1.004%, 01/13/2027 (A)(B)		6,830		6,093
BPCE MTN
5.975%, U.S. SOFR + 2.100%, 01/18/2027 (A)(B)		6,785		6,777
Brighthouse Financial Global Funding MTN
1.000%, 04/12/2024 (A)		3,400		3,256
Brookfield Finance
2.724%, 04/15/2031		2,500		2,060
Cantor Fitzgerald
4.500%, 04/14/2027 (A)		2,435		2,280
Capital One Financial
4.927%, U.S. SOFR + 2.057%, 05/10/2028 (B)		167		161
3.650%, 05/11/2027		4,523		4,241
3.300%, 10/30/2024		2,868		2,764
Carlyle Finance Subsidiary LLC
3.500%, 09/19/2029 (A)		2,697		2,399


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
CDP Financial
5.600%, 11/25/2039 (A)	$	700	$	759
Charles Schwab
5.643%, U.S. SOFR + 2.210%, 05/19/2029 (B)		3,228		3,231
Chubb INA Holdings
6.700%, 05/15/2036		1,000		1,133
4.350%, 11/03/2045		1,138		1,016
CI Financial
4.100%, 06/15/2051		2,010		1,203
3.200%, 12/17/2030		6,030		4,522
Cincinnati Financial
6.920%, 05/15/2028		3,363		3,637
6.125%, 11/01/2034		2,882		3,086
Citadel
4.875%, 01/15/2027 (A)		3,820		3,679
Citadel Finance LLC
3.375%, 03/09/2026 (A)		3,615		3,279
Citigroup
8.125%, 07/15/2039		3,119		3,962
6.174%, U.S. SOFR + 2.661%, 05/25/2034 (B)		7,611		7,719
5.610%, U.S. SOFR + 1.546%, 09/29/2026 (B)		5,795		5,836
5.500%, 09/13/2025		1,095		1,095
4.910%, U.S. SOFR + 2.086%, 05/24/2033 (B)		3,000		2,917
4.750%, 05/18/2046		1,040		877
4.450%, 09/29/2027		195		187
4.281%, TSFR3M + 2.101%, 04/24/2048 (B)		2,918		2,463
4.140%, U.S. SOFR + 1.372%, 05/24/2025 (B)		3,535		3,478
3.400%, 05/01/2026		6,375		6,103
3.352%, TSFR3M + 1.158%, 04/24/2025 (B)		6,380		6,236
2.904%, U.S. SOFR + 1.379%, 11/03/2042 (B)		2,415		1,697
2.561%, U.S. SOFR + 1.167%, 05/01/2032 (B)		13,030		10,696
1.462%, U.S. SOFR + 0.770%, 06/09/2027 (B)		3,767		3,358
CME Group
5.300%, 09/15/2043		2,500		2,575
4.150%, 06/15/2048		1,989		1,792
Commonwealth Bank of Australia
1.125%, 06/15/2026 (A)		3,668		3,282
Commonwealth Bank of Australia NY
5.316%, 03/13/2026		2,750		2,783
Cooperatieve Rabobank UA
3.758%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.420%, 04/06/2033 (A)(B)		6,285		5,529


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Corebridge Financial
3.900%, 04/05/2032 (A)	$	2,980	$	2,585
3.850%, 04/05/2029 (A)		5,600		5,049
3.500%, 04/04/2025 (A)		4,835		4,615
Corebridge Global Funding
0.450%, 12/08/2023 (A)		5,260		5,114
Credit Agricole
1.247%, U.S. SOFR + 0.892%, 01/26/2027 (A)(B)		4,740		4,216
Credit Suisse Group
6.537%, U.S. SOFR + 3.920%, 08/12/2033 (A)(B)		1,995		2,036
3.750%, 03/26/2025		3,675		3,451
Credit Suisse NY
4.750%, 08/09/2024		10,920		10,636
Credit Suisse NY MTN
3.700%, 02/21/2025		7,700		7,307
Danske Bank
6.466%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.100%, 01/09/2026 (A)(B)		5,584		5,591
Deutsche Bank NY
0.898%, 05/28/2024		5,915		5,609
Empower Finance 2020
3.075%, 09/17/2051 (A)		1,255		800
Enstar Group
3.100%, 09/01/2031		3,285		2,592
Equitable Financial Life Global Funding
1.400%, 07/07/2025 (A)		1,473		1,347
1.400%, 08/27/2027 (A)		1,973		1,674
0.800%, 08/12/2024 (A)		2,165		2,046
F&G Global Funding
1.750%, 06/30/2026 (A)		7,701		6,867
Fairfax Financial Holdings
3.375%, 03/03/2031		2,495		2,111
Farmers Exchange Capital III
5.454%, ICE LIBOR USD 3 Month + 3.454%, 10/15/2054 (A)(B)		1,750		1,590
Federation des Caisses Desjardins du Quebec
4.400%, 08/23/2025 (A)		5,170		5,034
0.700%, 05/21/2024 (A)		6,540		6,235
Fifth Third Bancorp
2.550%, 05/05/2027		1,920		1,681
Five Corners Funding Trust
4.419%, 11/15/2023 (A)		4,190		4,161
GA Global Funding Trust
3.850%, 04/11/2025 (A)		6,595		6,319
1.950%, 09/15/2028 (A)		5,860		4,940
1.625%, 01/15/2026 (A)		4,010		3,588
Goldman Sachs Capital I
6.345%, 02/15/2034		2,200		2,237


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Goldman Sachs Group
6.750%, 10/01/2037	$	480	$	512
6.450%, 05/01/2036		670		703
4.411%, TSFR3M + 1.692%, 04/23/2039 (B)		3,440		3,014
4.017%, TSFR3M + 1.635%, 10/31/2038 (B)		1,517		1,279
3.850%, 01/26/2027		155		149
3.800%, 03/15/2030		350		324
3.500%, 01/23/2025		2,745		2,663
3.500%, 11/16/2026		8,613		8,164
3.436%, U.S. SOFR + 1.632%, 02/24/2043 (B)		2,083		1,559
3.272%, TSFR3M + 1.463%, 09/29/2025 (B)		10,980		10,618
3.210%, U.S. SOFR + 1.513%, 04/22/2042 (B)		7,800		5,710
3.102%, U.S. SOFR + 1.410%, 02/24/2033 (B)		8,225		6,975
2.650%, U.S. SOFR + 1.264%, 10/21/2032 (B)		1,439		1,179
2.640%, U.S. SOFR + 1.114%, 02/24/2028 (B)		5,545		5,027
2.600%, 02/07/2030		795		681
2.383%, U.S. SOFR + 1.248%, 07/21/2032 (B)		20,775		16,727
1.992%, U.S. SOFR + 1.090%, 01/27/2032 (B)		485		383
1.948%, U.S. SOFR + 0.913%, 10/21/2027 (B)		7,105		6,328
1.431%, U.S. SOFR + 0.798%, 03/09/2027 (B)		10,275		9,231
Goldman Sachs Group MTN
4.800%, 07/08/2044		5,195		4,694
HSBC Bank USA
7.000%, 01/15/2039		7,096		7,770
HSBC Holdings PLC
8.113%, U.S. SOFR + 4.250%, 11/03/2033 (B)		3,205		3,563
7.390%, U.S. SOFR + 3.350%, 11/03/2028 (B)		5,152		5,504
4.041%, ICE LIBOR USD 3 Month + 1.546%, 03/13/2028 (B)		11,362		10,720
2.999%, U.S. SOFR + 1.430%, 03/10/2026 (B)		1,140		1,083
ING Groep
4.625%, 01/06/2026 (A)		4,185		4,108
4.100%, 10/02/2023		3,950		3,923
3.869%, U.S. SOFR + 1.640%, 03/28/2026 (B)		6,165		5,947
Intercontinental Exchange
4.950%, 06/15/2052		3,810		3,611
4.250%, 09/21/2048		1,454		1,236


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.000%, 06/15/2050	$	1,100	$	754
International Bank for Reconstruction & Development
3.875%, 02/14/2030		14,355		14,356
3.500%, 07/12/2028		6,085		5,976
Jackson Financial
3.125%, 11/23/2031		3,295		2,555
Jackson National Life Global Funding
5.500%, 01/09/2026 (A)		3,000		2,960
JPMorgan Chase
8.750%, 09/01/2030		1,361		1,620
7.750%, 07/15/2025		1,690		1,782
6.400%, 05/15/2038		2,812		3,142
5.849%, ICE LIBOR USD 3 Month + 0.550%, 02/01/2027 (B)		1,630		1,505
5.717%, U.S. SOFR + 2.580%, 09/14/2033 (B)		3,359		3,399
5.546%, U.S. SOFR + 1.070%, 12/15/2025 (B)		8,300		8,310
5.500%, 10/15/2040		1,000		1,010
4.586%, U.S. SOFR + 1.800%, 04/26/2033 (B)		9,558		9,166
4.565%, U.S. SOFR + 1.750%, 06/14/2030 (B)		6,680		6,463
4.260%, TSFR3M + 1.842%, 02/22/2048 (B)		5		4
3.964%, TSFR3M + 1.642%, 11/15/2048 (B)		3,784		3,060
3.882%, TSFR3M + 1.622%, 07/24/2038 (B)		6,195		5,319
3.875%, 09/10/2024		2,535		2,486
3.509%, TSFR3M + 0.945%, 01/23/2029 (B)		20,047		18,669
3.328%, U.S. SOFR + 1.580%, 04/22/2052 (B)		5,535		3,964
3.220%, TSFR3M + 1.417%, 03/01/2025 (B)		2,755		2,702
3.157%, U.S. SOFR + 1.460%, 04/22/2042 (B)		10,745		8,032
3.109%, U.S. SOFR + 2.440%, 04/22/2051 (B)		255		176
2.963%, U.S. SOFR + 1.260%, 01/25/2033 (B)		6,511		5,511
2.522%, U.S. SOFR + 2.040%, 04/22/2031 (B)		5,703		4,843
2.069%, U.S. SOFR + 1.015%, 06/01/2029 (B)		5,610		4,854
2.005%, TSFR3M + 1.585%, 03/13/2026 (B)		5,095		4,794
1.953%, U.S. SOFR + 1.065%, 02/04/2032 (B)		2,785		2,217
KeyBank
5.850%, 11/15/2027		5,076		4,710


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
KeyBank MTN
5.000%, 01/26/2033	$	7,310	$	6,424
KKR Group Finance II LLC
5.500%, 02/01/2043 (A)		1,985		1,804
KKR Group Finance III LLC
5.125%, 06/01/2044 (A)		7,143		6,201
KKR Group Finance VIII LLC
3.500%, 08/25/2050 (A)		1,275		846
KKR Group Finance XII LLC
4.850%, 05/17/2032 (A)		3,073		2,913
Kreditanstalt fuer Wiederaufbau
3.875%, 06/15/2028		13,775		13,752
Lincoln National
3.400%, 01/15/2031		3,100		2,559
Lloyds Banking Group PLC
4.976%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.300%, 08/11/2033 (B)		2,450		2,318
2.438%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.000%, 02/05/2026 (B)		4,500		4,250
1.627%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.850%, 05/11/2027 (B)		2,636		2,355
LSEGA Financing PLC
3.200%, 04/06/2041 (A)		3,618		2,698
1.375%, 04/06/2026 (A)		7,541		6,741
Macquarie Group MTN
6.207%, 11/22/2024 (A)		10,018		10,085
1.629%, U.S. SOFR + 0.910%, 09/23/2027 (A)(B)		1,844		1,618
Marsh & McLennan
6.250%, 11/01/2052		3,110		3,450
4.750%, 03/15/2039		3,700		3,429
3.500%, 03/10/2025		4,200		4,097
Massachusetts Mutual Life Insurance
3.375%, 04/15/2050 (A)		1,153		818
3.200%, 12/01/2061 (A)		7,385		4,762
MassMutual Global Funding II
1.200%, 07/16/2026 (A)		6,000		5,358
Mastercard
4.875%, 03/09/2028		3,625		3,715
4.850%, 03/09/2033		7,895		8,098
3.300%, 03/26/2027		3,110		2,993
2.950%, 06/01/2029		2,420		2,235
Met Tower Global Funding MTN
1.250%, 09/14/2026 (A)		7,645		6,760
MetLife
6.375%, 06/15/2034		4,340		4,778
5.250%, 01/15/2054		565		537
5.000%, 07/15/2052		5,920		5,383
4.050%, 03/01/2045		1,250		1,030


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Metropolitan Life Global Funding I
2.950%, 04/09/2030 (A)	$	3,070	$	2,665
0.950%, 07/02/2025 (A)		3,600		3,291
Metropolitan Life Global Funding I MTN
5.150%, 03/28/2033 (A)		7,570		7,552
3.600%, 01/11/2024 (A)		6,965		6,877
2.400%, 01/11/2032 (A)		3,850		3,163
Mitsubishi UFJ Financial Group
5.719%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.080%, 02/20/2026 (B)		4,740		4,737
5.063%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.550%, 09/12/2025 (B)		5,265		5,218
Moody's
4.250%, 08/08/2032		3,406		3,265
Morgan Stanley
5.948%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.430%, 01/19/2038 (B)		6,385		6,307
5.297%, U.S. SOFR + 2.620%, 04/20/2037 (B)		385		367
5.250%, U.S. SOFR + 1.870%, 04/21/2034 (B)		4,430		4,399
5.123%, U.S. SOFR + 1.730%, 02/01/2029 (B)		3,535		3,517
4.210%, U.S. SOFR + 1.610%, 04/20/2028 (B)		19,674		18,968
1.593%, U.S. SOFR + 0.879%, 05/04/2027 (B)		7,700		6,925
Morgan Stanley MTN
6.375%, 07/24/2042		641		707
4.300%, 01/27/2045		4,720		4,088
3.971%, ICE LIBOR USD 3 Month + 1.455%, 07/22/2038 (B)		4,630		3,951
2.720%, U.S. SOFR + 1.152%, 07/22/2025 (B)		4,940		4,764
2.511%, U.S. SOFR + 1.200%, 10/20/2032 (B)		11,085		8,998
2.475%, U.S. SOFR + 1.000%, 01/21/2028 (B)		4,340		3,940
2.239%, U.S. SOFR + 1.178%, 07/21/2032 (B)		8,650		6,901
1.512%, U.S. SOFR + 0.858%, 07/20/2027 (B)		2,237		1,992
Morgan Stanley Bank
4.754%, 04/21/2026		2,420		2,411
Mutual of Omaha Insurance
4.297%, ICE LIBOR USD 3 Month + 2.640%, 07/15/2054 (A)(B)		1,515		1,460
National Securities Clearing
5.100%, 11/21/2027 (A)		2,657		2,660
5.000%, 05/30/2028 (A)		3,270		3,283


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Nationwide Building Society MTN
2.972%, U.S. SOFR + 1.290%, 02/16/2028 (A)(B)	$	6,055	$	5,484
Nationwide Mutual Insurance
9.375%, 08/15/2039 (A)		1,450		1,873
4.350%, 04/30/2050 (A)		3,471		2,608
NatWest Group PLC
7.472%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.850%, 11/10/2026 (B)		6,706		6,961
6.016%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.100%, 03/02/2034 (B)		2,745		2,800
1.642%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.900%, 06/14/2027 (B)		4,320		3,824
New York Life Global Funding MTN
3.600%, 08/05/2025 (A)		5,000		4,847
1.450%, 01/14/2025 (A)		3,500		3,309
New York Life Insurance
5.875%, 05/15/2033 (A)		2,224		2,324
3.750%, 05/15/2050 (A)		1,420		1,079
Northwestern Mutual Global Funding MTN
4.000%, 07/01/2025 (A)		3,300		3,224
Owl Rock Capital
2.875%, 06/11/2028		3,498		2,854
Pacific Life Insurance
4.300%, ICE LIBOR USD 3 Month + 2.796%, 10/24/2067 (A)(B)		1,555		1,171
Peachtree Corners Funding Trust
3.976%, 02/15/2025 (A)		4,431		4,293
PNC Financial Services Group
5.068%, U.S. SOFR + 1.933%, 01/24/2034 (B)		5,330		5,146
2.600%, 07/23/2026		9,430		8,758
Pricoa Global Funding I
3.450%, 09/01/2023 (A)		5,920		5,891
Principal Life Global Funding II
2.250%, 11/21/2024 (A)		3,110		2,961
1.500%, 08/27/2030 (A)		3,374		2,580
1.375%, 01/10/2025 (A)		3,500		3,278
Prospect Capital
3.706%, 01/22/2026		1,955		1,717
Prudential Financial
3.935%, 12/07/2049		140		109
Prudential Financial MTN
5.700%, 12/14/2036		1,660		1,742
1.500%, 03/10/2026		4,945		4,542
Prudential Funding Asia
3.125%, 04/14/2030		2,008		1,788
Royal Bank of Canada MTN
6.000%, 11/01/2027		10,744		11,134
2.300%, 11/03/2031		2,380		1,933


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
S&P Global
2.700%, 03/01/2029	$	6,138	$	5,554
2.450%, 03/01/2027		6,525		6,056
Santander UK Group Holdings PLC
6.833%, U.S. SOFR + 2.749%, 11/21/2026 (B)		5,995		6,063
Securian Financial Group
4.800%, 04/15/2048 (A)		3,138		2,524
Security Benefit Global Funding MTN
1.250%, 05/17/2024 (A)		1,501		1,426
Societe Generale
3.625%, 03/01/2041 (A)		2,840		1,781
Societe Generale MTN
7.367%, 01/10/2053 (A)		3,515		3,372
State Street
5.159%, U.S. SOFR + 1.890%, 05/18/2034 (B)		4,489		4,469
4.421%, U.S. SOFR + 1.605%, 05/13/2033 (B)		3,026		2,890
3.031%, U.S. SOFR + 1.490%, 11/01/2034 (B)		6,035		5,187
Sumitomo Mitsui Financial Group
0.948%, 01/12/2026		3,000		2,680
Synchrony Bank
5.400%, 08/22/2025		5,420		5,165
Toronto-Dominion Bank MTN
4.456%, 06/08/2032		3,500		3,309
0.700%, 09/10/2024		3,763		3,541
Travelers
5.450%, 05/25/2053		10,635		10,945
3.750%, 05/15/2046		1,505		1,191
Truist Bank
3.800%, 10/30/2026		2,090		1,907
2.250%, 03/11/2030		1,090		867
Truist Financial
4.000%, 05/01/2025		9,430		9,089
Truist Financial MTN
5.122%, U.S. SOFR + 1.852%, 01/26/2034 (B)		2,010		1,920
4.916%, U.S. SOFR + 2.240%, 07/28/2033 (B)		6,080		5,488
4.873%, U.S. SOFR + 1.435%, 01/26/2029 (B)		5,485		5,308
2.850%, 10/26/2024		2,885		2,762
1.887%, U.S. SOFR + 0.862%, 06/07/2029 (B)		4,036		3,352
1.267%, U.S. SOFR + 0.609%, 03/02/2027 (B)		14,300		12,663
1.200%, 08/05/2025		3,458		3,125
UBS MTN
4.500%, 06/26/2048 (A)		3,695		3,318


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
UBS Group
4.703%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.050%, 08/05/2027 (A)(B)	$	13,315	$	12,797
4.488%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.550%, 05/12/2026 (A)(B)		3,220		3,112
4.125%, 09/24/2025 (A)		1,530		1,469
1.494%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.850%, 08/10/2027 (A)(B)		2,100		1,810
1.008%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.830%, 07/30/2024 (A)(B)		8,100		8,022
US Bancorp
5.850%, U.S. SOFR + 2.090%, 10/21/2033 (B)		5,429		5,477
4.839%, U.S. SOFR + 1.600%, 02/01/2034 (B)		4,130		3,876
US Bancorp MTN
4.967%, U.S. SOFR + 2.110%, 07/22/2033 (B)		3,225		2,921
USAA Capital
3.375%, 05/01/2025 (A)		3,949		3,834
Validus Holdings
8.875%, 01/26/2040		1,880		2,292
Visa
4.150%, 12/14/2035		1,125		1,085
2.700%, 04/15/2040		835		642
2.000%, 08/15/2050		3,610		2,204
Wells Fargo
6.600%, 01/15/2038		2,620		2,887
5.950%, 12/15/2036		1,035		1,031
5.606%, 01/15/2044		3,316		3,165
3.068%, U.S. SOFR + 2.530%, 04/30/2041 (B)		4,650		3,378
3.000%, 04/22/2026		8,965		8,479
Wells Fargo MTN
4.900%, 11/17/2045		1,865		1,623
4.750%, 12/07/2046		3,543		2,985
4.611%, U.S. SOFR + 2.130%, 04/25/2053 (B)		3,075		2,653
4.400%, 06/14/2046		1,355		1,095
3.584%, TSFR3M + 1.572%, 05/22/2028 (B)		12,541		11,764
3.350%, U.S. SOFR + 1.500%, 03/02/2033 (B)		3,005		2,581
3.196%, TSFR3M + 1.432%, 06/17/2027 (B)		14,110		13,243
2.879%, TSFR3M + 1.432%, 10/30/2030 (B)		5,250		4,543
2.393%, U.S. SOFR + 2.100%, 06/02/2028 (B)		9,880		8,833


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Westpac Banking
2.668%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.750%, 11/15/2035 (B)	$	3,585	$	2,761
1.953%, 11/20/2028		1,055		913
XL Group
5.250%, 12/15/2043		2,417		2,395

				1,369,440

Health Care — 8.7%
AbbVie
4.700%, 05/14/2045		5,910		5,312
4.250%, 11/21/2049		8,800		7,453
Advocate Health & Hospitals
4.272%, 08/15/2048		2,984		2,612
Amgen
5.650%, 03/02/2053		3,350		3,351
5.507%, 03/02/2026		11,490		11,490
5.250%, 03/02/2030		2,565		2,585
Ascension Health
3.945%, 11/15/2046		2,394		2,012
3.106%, 11/15/2039		1,990		1,526
2.532%, 11/15/2029		4,050		3,518
Astrazeneca Finance LLC
1.200%, 05/28/2026		10,345		9,367
AstraZeneca PLC
6.450%, 09/15/2037		6,380		7,356
3.375%, 11/16/2025		1,578		1,529
Banner Health
2.907%, 01/01/2042		2,652		1,928
Bayer US Finance II LLC
4.700%, 07/15/2064 (A)		3,935		3,101
Blue Cross & Blue Shield of Minnesota
3.790%, 05/01/2025 (A)		2,086		1,990
Bristol-Myers Squibb
4.625%, 05/15/2044		1,990		1,868
3.550%, 03/15/2042		4,210		3,454
3.400%, 07/26/2029		3,982		3,748
3.200%, 06/15/2026		1,775		1,713
2.350%, 11/13/2040		760		530
Centene
3.000%, 10/15/2030		18,158		15,192
2.625%, 08/01/2031		955		765
2.500%, 03/01/2031		1,110		888
Cigna Group
4.125%, 11/15/2025		2,154		2,109
2.375%, 03/15/2031		3,000		2,505
CommonSpirit Health
6.073%, 11/01/2027		5,000		5,148
4.187%, 10/01/2049		3,000		2,409
CVS Health
5.875%, 06/01/2053		3,320		3,334


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
5.250%, 01/30/2031	$	4,170	$	4,186
5.250%, 02/21/2033		3,430		3,439
Eli Lilly
4.950%, 02/27/2063		3,545		3,520
4.875%, 02/27/2053		3,002		3,024
3.375%, 03/15/2029		3,155		2,995
Gilead Sciences
2.800%, 10/01/2050		1,025		683
GlaxoSmithKline Capital
3.875%, 05/15/2028		2,190		2,130
HCA
5.900%, 06/01/2053		2,365		2,279
5.500%, 06/15/2047		2,385		2,183
Health Care Service, A Mutual Legal Reserve
3.200%, 06/01/2050 (A)		3,025		2,116
Johnson & Johnson
3.750%, 03/03/2047		3,000		2,611
2.900%, 01/15/2028		2,565		2,441
2.625%, 01/15/2025		1,660		1,613
1.300%, 09/01/2030		5,355		4,431
Kaiser Foundation Hospitals
4.150%, 05/01/2047		3,195		2,780
3.150%, 05/01/2027		2,005		1,894
2.810%, 06/01/2041		5,275		3,839
McKesson
0.900%, 12/03/2025		2,000		1,803
Medtronic
4.375%, 03/15/2035		1,732		1,679
Medtronic Global Holdings SCA
4.250%, 03/30/2028		4,097		4,042
Memorial Health Services
3.447%, 11/01/2049		2,130		1,581
Merck
5.000%, 05/17/2053		3,730		3,754
4.900%, 05/17/2044		5,210		5,182
4.500%, 05/17/2033		5,670		5,658
4.300%, 05/17/2030		7,410		7,315
3.600%, 09/15/2042		2,145		1,785
3.400%, 03/07/2029		2,385		2,273
MultiCare Health System
2.803%, 08/15/2050		4,400		2,711
Nationwide Children's Hospital
4.556%, 11/01/2052		1,135		1,031
New York and Presbyterian Hospital
4.763%, 08/01/2116		1,395		1,179
1.651%, 08/01/2030		2,487		2,010
Northwell Healthcare
4.260%, 11/01/2047		2,330		1,906
Novartis Capital
4.400%, 05/06/2044		740		699
3.000%, 11/20/2025		4,990		4,822


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
NY Society for Relief of Ruptured & Crippled Maintaining Hospital Special Surgery
2.667%, 10/01/2050	$	5,260	$	3,280
OhioHealth
2.834%, 11/15/2041		4,000		2,918
Orlando Health Obligated Group
3.327%, 10/01/2050		850		607
Pfizer
3.000%, 12/15/2026		2,525		2,411
Pfizer Investment Enterprises Pte
5.340%, 05/19/2063		2,030		2,033
5.300%, 05/19/2053		18,652		19,202
5.110%, 05/19/2043		7,015		6,971
4.750%, 05/19/2033		17,885		17,957
4.650%, 05/19/2030		3,167		3,170
Pharmacia LLC
6.600%, 12/01/2028		1,100		1,209
Providence St. Joseph Health Obligated Group
2.532%, 10/01/2029		8,711		7,379
Revvity
0.850%, 09/15/2024		7,745		7,296
Stanford Health Care
3.310%, 08/15/2030		1,165		1,049
Thermo Fisher Scientific
4.800%, 11/21/2027		3,622		3,689
1.750%, 10/15/2028		1,115		974
1.215%, 10/18/2024		15,830		15,018
UnitedHealth Group
6.875%, 02/15/2038		2,380		2,829
6.625%, 11/15/2037		2,739		3,140
6.500%, 06/15/2037		1,675		1,877
5.875%, 02/15/2053		13,690		14,969
4.625%, 07/15/2035		5,655		5,548
4.200%, 01/15/2047		1,432		1,247
4.000%, 05/15/2029		2,879		2,784
3.875%, 12/15/2028		1,835		1,778
3.850%, 06/15/2028		1,545		1,499
3.750%, 07/15/2025		3,700		3,627
3.700%, 12/15/2025		2,175		2,123
3.500%, 02/15/2024		5,010		4,943
3.050%, 05/15/2041		2,795		2,145
2.300%, 05/15/2031		9,655		8,239
Wyeth LLC
6.000%, 02/15/2036		1,400		1,527
5.950%, 04/01/2037		3,960		4,355

				362,180

Industrials — 7.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.000%, 10/29/2028		3,460		3,000


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
2.450%, 10/29/2026	$	3,175	$	2,831
1.650%, 10/29/2024		8,355		7,844
1.150%, 10/29/2023		8,590		8,422
Air Lease
3.875%, 07/03/2023		4,406		4,399
Airbus
3.950%, 04/10/2047 (A)		2,800		2,354
BAE Systems Holdings
3.800%, 10/07/2024 (A)		1,700		1,663
BAE Systems PLC
5.800%, 10/11/2041 (A)		1,940		1,969
3.400%, 04/15/2030 (A)		1,387		1,259
1.900%, 02/15/2031 (A)		2,718		2,194
Boeing
5.805%, 05/01/2050		3,320		3,250
5.705%, 05/01/2040		2,195		2,163
5.150%, 05/01/2030		10,820		10,731
3.100%, 05/01/2026		4,435		4,178
1.875%, 06/15/2023		3,505		3,500
Burlington Northern Santa Fe LLC
6.150%, 05/01/2037		2,590		2,867
4.900%, 04/01/2044		2,563		2,441
4.550%, 09/01/2044		5,765		5,249
4.450%, 01/15/2053		3,424		3,106
4.375%, 09/01/2042		405		365
4.150%, 04/01/2045		3,505		3,023
Canadian National Railway
3.850%, 08/05/2032		2,990		2,807
Caterpillar
3.803%, 08/15/2042		1,800		1,563
3.400%, 05/15/2024		3,050		2,993
Caterpillar Financial Services MTN
3.600%, 08/12/2027		10,850		10,513
0.950%, 01/10/2024		18,385		17,903
Continental Airlines Pass-Through Trust, Ser 2012-2, Cl A
4.000%, 10/29/2024		2,752		2,666
CSX
3.350%, 09/15/2049		4,726		3,421
Deere
3.100%, 04/15/2030		4,033		3,698
2.750%, 04/15/2025		1,295		1,251
Delta Air Lines Pass-Through Trust, Ser 2015-1, Cl A
3.875%, 07/30/2027		1,059		968
Delta Air Lines Pass-Through Trust, Ser 2019-1, Cl A
3.404%, 04/25/2024		2,800		2,694
Delta Air Lines Pass-Through Trust, Ser 2020-1, Cl AA
2.000%, 06/10/2028		2,722		2,392


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Emerson Electric
2.200%, 12/21/2031	$	6,250	$	5,179
1.800%, 10/15/2027		2,205		1,969
General Dynamics
4.250%, 04/01/2040		1,095		1,002
4.250%, 04/01/2050		2,100		1,898
2.850%, 06/01/2041		4,130		3,104
Genpact Luxembourg Sarl
3.375%, 12/01/2024		5,226		5,056
Honeywell International
5.000%, 02/15/2033		7,275		7,489
1.750%, 09/01/2031		1,980		1,603
JetBlue Pass-Through Trust, Ser 2019-1, Cl AA
2.750%, 05/15/2032		3,039		2,535
John Deere Capital MTN
3.900%, 06/07/2032		765		728
2.800%, 07/18/2029		4,220		3,839
2.650%, 06/24/2024		5,585		5,491
2.650%, 06/10/2026		390		368
2.350%, 03/08/2027		7,260		6,722
1.250%, 01/10/2025		17,680		16,705
Lockheed Martin
5.250%, 01/15/2033		6,748		7,017
4.070%, 12/15/2042		3,300		2,916
3.900%, 06/15/2032		6,960		6,571
Norfolk Southern
3.800%, 08/01/2028		3,180		3,056
Northrop Grumman
2.930%, 01/15/2025		5,650		5,448
PACCAR Financial MTN
4.450%, 03/30/2026		2,150		2,146
1.100%, 05/11/2026		3,079		2,789
Penske Truck Leasing LP / PTL Finance
4.000%, 07/15/2025 (A)		2,904		2,797
3.950%, 03/10/2025 (A)		2,752		2,663
3.450%, 07/01/2024 (A)		5,540		5,390
Protective Life Global Funding
1.618%, 04/15/2026 (A)		7,358		6,648
1.170%, 07/15/2025 (A)		1,476		1,344
Raytheon Technologies
5.375%, 02/27/2053		4,235		4,286
5.000%, 02/27/2026		3,793		3,819
4.500%, 06/01/2042		2,300		2,100
Republic Services
5.000%, 04/01/2034		2,520		2,523
Ryder System MTN
4.625%, 06/01/2025		4,800		4,728
Siemens Financieringsmaatschappij
1.700%, 03/11/2028 (A)		5,890		5,189
Snap-on
3.100%, 05/01/2050		3,240		2,372


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Triton Container International
2.050%, 04/15/2026 (A)	$	2,335	$	2,055
TTX
4.600%, 02/01/2049 (A)		2,100		1,844
TTX MTN
3.600%, 01/15/2025 (A)		5,563		5,414
Union Pacific
3.500%, 02/14/2053		6,700		5,104
3.375%, 02/14/2042		1,275		1,015
2.950%, 03/10/2052		9,416		6,423
2.375%, 05/20/2031		4,085		3,472
Union Pacific MTN
3.550%, 08/15/2039		1,455		1,210
United Airlines Pass-Through Trust
2.700%, 05/01/2032		2,394		2,026
United Airlines Pass-Through Trust, Ser 2012-1, Cl A
4.150%, 04/11/2024		2,021		1,979
United Airlines Pass-Through Trust, Ser 2019-1, Cl AA
4.150%, 08/25/2031		1,520		1,402
United Parcel Service
5.050%, 03/03/2053		2,725		2,722
Verisk Analytics
3.625%, 05/15/2050		2,930		2,102
WW Grainger
4.600%, 06/15/2045		419		390

				304,325

Information Technology — 4.7%
Analog Devices
2.950%, 10/01/2051		1,918		1,345
1.700%, 10/01/2028		5,460		4,751
Apple
4.650%, 02/23/2046		5,150		5,106
4.500%, 02/23/2036		2,915		2,985
4.375%, 05/13/2045		515		487
3.850%, 08/04/2046		5,235		4,584
3.350%, 02/09/2027		4,600		4,479
3.250%, 02/23/2026		9,225		8,970
3.000%, 02/09/2024		4,590		4,531
2.850%, 05/11/2024		1,055		1,031
2.850%, 08/05/2061		2,000		1,338
2.650%, 05/11/2050		3,755		2,583
2.375%, 02/08/2041		2,500		1,835
1.650%, 02/08/2031		4,730		3,945
Cisco Systems
5.900%, 02/15/2039		2,007		2,208
Corning
7.250%, 08/15/2036		1,844		1,923
Dell International LLC / EMC Corp
5.750%, 02/01/2033		2,750		2,751


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Intel
5.700%, 02/10/2053	$	4,290	$	4,238
5.200%, 02/10/2033		8,255		8,305
5.125%, 02/10/2030		16,150		16,336
4.900%, 08/05/2052		6,669		6,004
4.875%, 02/10/2026		8,080		8,125
3.200%, 08/12/2061		888		562
2.875%, 05/11/2024		5,830		5,690
International Business Machines
4.150%, 05/15/2039		2,325		2,034
3.300%, 05/15/2026		1,805		1,735
3.000%, 05/15/2024		1,140		1,114
2.200%, 02/09/2027		2,700		2,479
Intuit
1.350%, 07/15/2027		2,989		2,619
KLA
4.950%, 07/15/2052		2,702		2,608
Microsoft
3.700%, 08/08/2046		4,759		4,150
3.500%, 02/12/2035		805		760
3.450%, 08/08/2036		650		594
3.041%, 03/17/2062		1,100		797
2.921%, 03/17/2052		3,472		2,569
2.875%, 02/06/2024		2,235		2,204
2.675%, 06/01/2060		1,078		721
2.525%, 06/01/2050		3,282		2,259
2.400%, 08/08/2026		7,490		7,103
NXP BV / NXP FUNDING LLC
4.875%, 03/01/2024		3,252		3,228
NXP BV / NXP FUNDING LLC / NXP USA
5.000%, 01/15/2033		1,975		1,903
Oracle
4.375%, 05/15/2055		680		526
4.000%, 07/15/2046		5,360		4,016
3.800%, 11/15/2037		2,190		1,779
3.600%, 04/01/2040		9,370		7,095
2.950%, 04/01/2030		7,955		6,960
QUALCOMM
4.300%, 05/20/2047		3,516		3,113
1.650%, 05/20/2032		1,830		1,435
Sprint Capital
8.750%, 03/15/2032		1,510		1,834
Sprint LLC
7.125%, 06/15/2024		2,790		2,819
Texas Instruments
5.050%, 05/18/2063		3,958		3,871
4.150%, 05/15/2048		175		155
3.875%, 03/15/2039		195		172
2.250%, 09/04/2029		9,130		8,070
TSMC Arizona
1.750%, 10/25/2026		2,455		2,217


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Vontier
1.800%, 04/01/2026	$	1,205	$	1,071
Wipro IT Services LLC
1.500%, 06/23/2026 (A)		4,937		4,428

				192,550

Materials — 1.1%
Barrick North America Finance LLC
5.750%, 05/01/2043		3,030		3,092
BHP Billiton Finance USA
6.420%, 03/01/2026		1,590		1,644
5.000%, 09/30/2043		1,400		1,376
4.875%, 02/27/2026		3,545		3,560
Celanese US Holdings LLC
6.330%, 07/15/2029		2,120		2,132
6.050%, 03/15/2025		5,170		5,191
Ecolab
1.650%, 02/01/2027		4,055		3,675
Freeport-McMoRan
5.250%, 09/01/2029		5,504		5,387
4.625%, 08/01/2030		1,835		1,718
4.250%, 03/01/2030		840		770
International Flavors & Fragrances
3.468%, 12/01/2050 (A)		5,485		3,605
3.268%, 11/15/2040 (A)		1,013		699
2.300%, 11/01/2030 (A)		3,950		3,136
Lubrizol
6.500%, 10/01/2034		1,000		1,180
PPG Industries
1.200%, 03/15/2026		3,750		3,381
Rio Tinto Finance USA
5.200%, 11/02/2040		1,185		1,188
2.750%, 11/02/2051		4,000		2,654

				44,388

Municipal Bond — 0.1%
University of Southern California
5.250%, 10/01/2111		3,940		3,950
2.805%, 10/01/2050		214		147

				4,097

Real Estate — 2.3%
Alexandria Real Estate Equities
4.750%, 04/15/2035		5,860		5,473
2.950%, 03/15/2034		1,550		1,232
AvalonBay Communities MTN
3.350%, 05/15/2027		5,480		5,163
Boston Properties
4.500%, 12/01/2028		2,630		2,353
Essential Properties
2.950%, 07/15/2031		3,050		2,233


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Federal Realty Investment Trust
1.250%, 02/15/2026	$	5,026	$	4,519
Prologis
4.750%, 06/15/2033		5,242		5,126
Realty Income
5.625%, 10/13/2032		7,300		7,430
Regency Centers LP
4.650%, 03/15/2049		315		262
4.400%, 02/01/2047		1,840		1,475
2.950%, 09/15/2029		4,180		3,635
Sabra Health Care LP
3.900%, 10/15/2029		4,275		3,523
3.200%, 12/01/2031		3,025		2,236
Scentre Group Trust 1/ Scentre Group Trust 2
3.750%, 03/23/2027 (A)		980		927
3.625%, 01/28/2026 (A)		9,631		9,208
3.500%, 02/12/2025 (A)		1,575		1,520
Scentre Group Trust 2
4.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.379%, 09/24/2080 (A)(B)		6,340		5,719
Simon Property Group LP
6.750%, 02/01/2040		470		511
5.850%, 03/08/2053		2,180		2,159
5.500%, 03/08/2033		8,037		8,008
4.250%, 11/30/2046		2,194		1,721
2.650%, 02/01/2032		3,600		2,924
2.450%, 09/13/2029		6,496		5,533
Spirit Realty LP
3.400%, 01/15/2030		2,405		2,041
3.200%, 01/15/2027		50		45
2.100%, 03/15/2028		3,075		2,585
Sun Communities Operating LP
2.300%, 11/01/2028		120		102
VICI Properties
4.375%, 05/15/2025		2,935		2,833
Vornado Realty
3.500%, 01/15/2025		3,895		3,606
WP Carey
4.600%, 04/01/2024		2,670		2,623

				96,725

Utilities — 9.8%
AEP Texas
3.450%, 01/15/2050		2,695		1,915
AEP Transmission LLC
5.400%, 03/15/2053		1,800		1,830
AES
5.450%, 06/01/2028		3,705		3,658
Alabama Power
3.850%, 12/01/2042		600		489
3.700%, 12/01/2047		2,800		2,145


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.125%, 07/15/2051	$	3,187	$	2,170
1.450%, 09/15/2030		3,416		2,713
Ameren Illinois
4.500%, 03/15/2049		4,560		4,098
3.850%, 09/01/2032		14,575		13,508
American Electric Power
5.699%, 08/15/2025		3,080		3,066
5.625%, 03/01/2033		4,305		4,391
Atmos Energy
4.125%, 03/15/2049		4,245		3,546
Baltimore Gas and Electric
2.250%, 06/15/2031		5,030		4,202
Berkshire Hathaway Energy
6.125%, 04/01/2036		1,472		1,592
4.450%, 01/15/2049		140		121
3.800%, 07/15/2048		1,065		836
3.250%, 04/15/2028		1,720		1,626
CenterPoint Energy Houston Electric LLC
4.500%, 04/01/2044		2,215		1,984
3.000%, 03/01/2032		1,840		1,604
2.900%, 07/01/2050		830		558
Cleco Corporate Holdings LLC
3.375%, 09/15/2029		2,000		1,728
CMS Energy
3.000%, 05/15/2026		7,285		6,901
Commonwealth Edison
4.700%, 01/15/2044		2,000		1,835
4.000%, 03/01/2048		4,350		3,608
3.200%, 11/15/2049		1,805		1,278
3.000%, 03/01/2050		2,140		1,466
2.550%, 06/15/2026		4,665		4,373
Connecticut Light & Power
5.250%, 01/15/2053		3,000		3,009
Consolidated Edison of New York
3.875%, 06/15/2047		3,000		2,341
Constellation Energy Generation LLC
5.800%, 03/01/2033		3,115		3,202
Consumers Energy
4.625%, 05/15/2033		9,275		9,145
3.500%, 08/01/2051		590		446
Dominion Energy
3.375%, 04/01/2030		630		564
Dominion Energy South Carolina
4.600%, 06/15/2043		1,000		897
DTE Electric
3.375%, 03/01/2025		2,289		2,229
DTE Energy
4.875%, 06/01/2028		5,240		5,182
4.220%, 11/01/2024 (D)		8,265		8,130
2.529%, 10/01/2024 (D)		3,695		3,551
Duke Energy Carolinas LLC
5.300%, 02/15/2040		1,700		1,715


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
3.875%, 03/15/2046	$	5,500	$	4,419
2.850%, 03/15/2032		3,085		2,642
2.550%, 04/15/2031		2,855		2,450
Duke Energy Florida LLC
5.950%, 11/15/2052		2,100		2,277
Duke Energy Indiana LLC
6.350%, 08/15/2038		255		285
4.900%, 07/15/2043		260		245
Duke Energy Ohio
5.250%, 04/01/2033		6,030		6,115
2.125%, 06/01/2030		1,415		1,179
Duke Energy Progress LLC
4.200%, 08/15/2045		2,830		2,363
4.100%, 05/15/2042		1,141		976
East Ohio Gas
3.000%, 06/15/2050 (A)		1,205		772
2.000%, 06/15/2030 (A)		2,370		1,912
1.300%, 06/15/2025 (A)		2,700		2,486
Eastern Energy Gas Holdings LLC
2.500%, 11/15/2024		2,410		2,316
Entergy Arkansas LLC
4.200%, 04/01/2049		3,080		2,558
3.350%, 06/15/2052		4,180		2,952
Entergy Louisiana LLC
4.200%, 09/01/2048		3,215		2,672
0.950%, 10/01/2024		11,700		11,056
Entergy Mississippi LLC
2.850%, 06/01/2028		4,385		3,995
Entergy Texas
3.550%, 09/30/2049		2,295		1,685
Eversource Energy
5.125%, 05/15/2033		3,220		3,185
3.800%, 12/01/2023		2,905		2,876
2.900%, 10/01/2024		4,203		4,058
Exelon
5.150%, 03/15/2028		4,570		4,603
Florida Power & Light
5.960%, 04/01/2039		155		167
5.950%, 02/01/2038		3,769		4,093
5.690%, 03/01/2040		4,657		4,937
4.800%, 05/15/2033		2,470		2,469
4.125%, 02/01/2042		4,125		3,591
2.850%, 04/01/2025		2,515		2,429
2.450%, 02/03/2032		11,835		9,910
Georgia Power
4.300%, 03/15/2043		2,585		2,182
Indiana Michigan Power
4.250%, 08/15/2048		610		510
Indianapolis Power & Light
4.050%, 05/01/2046 (A)		65		53
Kentucky Utilities
5.450%, 04/15/2033		4,185		4,284


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Massachusetts Electric
1.729%, 11/24/2030 (A)	$	1,300	$	1,012
MidAmerican Energy
3.150%, 04/15/2050		2,700		1,919
National Rural Utilities Cooperative Finance
8.209%, ICE LIBOR USD 3 Month + 2.910%, 04/30/2043 (B)		2,056		1,992
5.800%, 01/15/2033		2,560		2,702
4.450%, 03/13/2026		8,205		8,155
4.400%, 11/01/2048		1,000		848
4.300%, 03/15/2049		2,648		2,217
4.023%, 11/01/2032		470		437
New England Power
5.936%, 11/25/2052 (A)		1,046		1,101
NextEra Energy Capital Holdings
4.450%, 06/20/2025		12,070		11,940
1.900%, 06/15/2028		6,925		5,990
Niagara Mohawk Power
4.278%, 10/01/2034 (A)		1,959		1,750
NiSource
5.400%, 06/30/2033		2,400		2,405
Northern States Power
7.125%, 07/01/2025		3,220		3,345
6.250%, 06/01/2036		600		654
4.500%, 06/01/2052		2,845		2,557
2.250%, 04/01/2031		3,085		2,596
NSTAR Electric
3.250%, 05/15/2029		2,684		2,490
Oglethorpe Power
5.375%, 11/01/2040		1,930		1,801
4.500%, 04/01/2047		2,245		1,848
4.250%, 04/01/2046		1,265		941
4.200%, 12/01/2042		190		145
Ohio Power
2.600%, 04/01/2030		8,915		7,680
Oncor Electric Delivery LLC
7.500%, 09/01/2038		120		147
5.350%, 10/01/2052		2,379		2,415
5.300%, 06/01/2042		1,371		1,399
4.950%, 09/15/2052		1,020		976
3.750%, 04/01/2045		4,175		3,393
Pacific Gas and Electric
6.750%, 01/15/2053		5,202		5,097
4.500%, 07/01/2040		2,560		1,984
4.200%, 06/01/2041		2,340		1,740
PacifiCorp
6.250%, 10/15/2037		2,375		2,577
6.000%, 01/15/2039		4,660		4,862
5.500%, 05/15/2054		5,475		5,532
3.300%, 03/15/2051		3,553		2,525
2.950%, 06/01/2023		4,940		4,940
2.900%, 06/15/2052		5,290		3,462


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
PECO Energy
2.850%, 09/15/2051	$	3,000	$	1,969
PPL Electric Utilities
4.150%, 06/15/2048		2,400		2,073
3.950%, 06/01/2047		1,802		1,503
Public Service Electric and Gas MTN
4.050%, 05/01/2048		2,792		2,366
3.250%, 09/01/2023		1,450		1,441
Public Service Enterprise Group
5.850%, 11/15/2027		3,392		3,501
Public Service of Colorado
6.250%, 09/01/2037		220		241
4.100%, 06/01/2032		5,235		4,980
3.200%, 03/01/2050		1,975		1,425
Public Service of New Hampshire
3.600%, 07/01/2049		2,000		1,541
2.200%, 06/15/2031		6,070		5,073
San Diego Gas & Electric
4.500%, 08/15/2040		2,025		1,859
3.600%, 09/01/2023		1,224		1,219
3.320%, 04/15/2050		475		341
Sempra Energy
3.800%, 02/01/2038		1,380		1,150
Southern California Edison
2.850%, 08/01/2029		3,105		2,750
Southern California Gas
6.350%, 11/15/2052		3,190		3,523
5.750%, 06/01/2053		2,705		2,741
4.300%, 01/15/2049		1,255		1,048
3.750%, 09/15/2042		195		154
2.550%, 02/01/2030		4,835		4,190
Southwestern Public Service
5.150%, 06/01/2052		2,115		1,945
System Energy Resources
6.000%, 04/15/2028		3,570		3,624
Union Electric
4.000%, 04/01/2048		1,250		1,012
3.900%, 09/15/2042		90		73
Virginia Electric and Power
6.350%, 11/30/2037		2,000		2,164
5.000%, 04/01/2033		6,803		6,738
3.150%, 01/15/2026		3,000		2,889
2.950%, 11/15/2051		6,265		4,101
Vistra Operations LLC
4.875%, 05/13/2024 (A)		3,925		3,863
Wisconsin Electric Power
1.700%, 06/15/2028		2,300		2,003
Wisconsin Power & Light
6.375%, 08/15/2037		50		54
3.650%, 04/01/2050		40		30
3.050%, 10/15/2027		2,795		2,608


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Wisconsin Public Service
3.300%, 09/01/2049	$	2,475	$	1,757

				407,877

Total Corporate Obligations
(Cost $3,829,330) ($ Thousands)				3,539,624



U.S. TREASURY OBLIGATIONS — 9.5%
U.S. Treasury Bills
4.892%, 10/05/2023 (E)		6,525		6,406
U.S. Treasury Bonds
3.875%, 05/15/2043		37,585		36,904
3.625%, 02/15/2053 (F)		90,875		87,283
3.625%, 05/15/2053		14,405		13,860
3.375%, 08/15/2042		31,900		29,148
3.000%, 08/15/2052		23,447		19,927
U.S. Treasury Notes
4.625%, 02/28/2025		16,510		16,520
4.375%, 10/31/2024		11,725		11,650
4.250%, 12/31/2024		11,835		11,749
4.125%, 01/31/2025		16,795		16,652
4.125%, 09/30/2027		460		464
4.000%, 02/15/2026		11,195		11,158
3.875%, 04/30/2025		10,660		10,544
3.875%, 01/15/2026		6,000		5,958
3.750%, 04/15/2026		10,285		10,195
3.750%, 05/31/2030		4,950		4,965
3.625%, 05/15/2026		11,685		11,549
3.500%, 01/31/2028		20,524		20,245
3.500%, 04/30/2028		21,720		21,443
3.500%, 04/30/2030		5,045		4,981
3.375%, 05/15/2033		25,840		25,287
2.750%, 07/31/2027		11,495		10,994
2.750%, 08/15/2032		705		656
2.375%, 03/31/2029		9,990		9,263

Total U.S. Treasury Obligations
(Cost $397,595) ($ Thousands)				397,801



MUNICIPAL BONDS — 2.7%
California — 0.7%
California State University, Ser D, RB
1.490%, 11/01/2028		2,580		2,212
California State, Build America Project, GO
7.600%, 11/01/2040		585		741
7.550%, 04/01/2039		2,305		2,905
7.500%, 04/01/2034		5,125		6,291


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
California State, Health Facilities Financing Authority, RB
1.679%, 06/01/2028	$	4,975	$	4,317
East Bay, Municipal Utility District Water System Revenue, Build America Project, RB
5.874%, 06/01/2040		300		337
Los Angeles, Community College District, GO
1.606%, 08/01/2028		4,780		4,217
Los Angeles, Unified School District, Build America Project, Ser RY, GO
6.758%, 07/01/2034		1,120		1,276
Riverside County, Pension Obligation, RB
3.818%, 02/15/2038		1,405		1,276
State of California, GO
6.000%, 03/01/2033		950		1,051
University of California Regents, Build America Project, Ser H, RB
6.548%, 05/15/2048		120		139
University of California Regents, RB
4.132%, 05/15/2032		3,210		3,113
University of California, Build America Project, RB
5.770%, 05/15/2043		1,375		1,475

				29,350

Colorado — 0.2%
City & County of Denver's Airport System Revenue, Ser C, RB
2.037%, 11/15/2028		4,000		3,532
Colorado State, COP
6.817%, 03/15/2028		1,980		2,147

				5,679

Connecticut — 0.1%
Connecticut State, Ser A, GO
3.875%, 06/15/2028		2,555		2,486


Florida — 0.0%
Florida State, Board of Administration Finance, Ser A, RB
1.705%, 07/01/2027		1,383		1,234


Georgia — 0.1%
Georgia State, Municipal Electric Authority, Build America Project, RB
7.055%, 04/01/2057		2,757		2,838
6.637%, 04/01/2057		2,388		2,601

				5,439


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Illinois — 0.2%
Greater Chicago, Metropolitan Water Reclamation District, GO
5.720%, 12/01/2038	$	2,580	$	2,811
Sales Tax Securitization, Ser A, RB
4.637%, 01/01/2040		3,320		3,190

				6,001

Kansas — 0.0%
Kansas State, Development Finance Authority, Ser H, RB
4.727%, 04/15/2037		1,455		1,417


Massachusetts — 0.1%
Massachusetts State, Build America Project, GO
4.910%, 05/01/2029		100		102
Massachusetts State, Build America Project, RB
5.731%, 06/01/2040		80		86
Massachusetts State, Educational Financing Authority, Ser A, RB
2.925%, 07/01/2028		2,550		2,326
1.638%, 07/01/2026		2,125		1,929

				4,443

Michigan — 0.3%
Chippewa Valley Schools, GO
2.337%, 05/01/2029		3,125		2,783
Michigan State, Finance Authority, RB
3.084%, 12/01/2034		1,685		1,476
2.671%, 09/01/2049 (B)		4,600		4,242
University of Michigan, Ser C, RB
3.599%, 04/01/2047		4,520		3,884

				12,385

New Jersey — 0.1%
New Jersey State, Transportation Trust Fund Authority, Build America Project, Ser C, RB
5.754%, 12/15/2028		2,300		2,344
New Jersey State, Turnpike Authority, Build America Project, RB
7.102%, 01/01/2041		2,500		3,035

				5,379

New York — 0.6%
New York & New Jersey, Port Authority, RB
4.926%, 10/01/2051		165		165
4.458%, 10/01/2062		205		185
New York & New Jersey, Port Authority, Ser 181, RB
4.960%, 08/01/2046		1,315		1,290


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
New York & New Jersey, Port Authority, Ser AAA, RB
1.086%, 07/01/2023	$	2,225	$	2,216
New York City, Transitional Finance Authority, Future Tax Secured Revenue, Build America Project, RB
5.767%, 08/01/2036		470		497
New York City, Transitional Finance Authority, Future Tax Secured Revenue, Sub-Ser, RB
3.480%, 08/01/2026		2,100		2,027
New York State, Dormitory Authority, Build America Project, RB
5.289%, 03/15/2033		3,000		3,060
New York State, Dormitory Authority, Ser F, RB
3.110%, 02/15/2039		2,435		2,009
New York State, Thruway Authority, Ser M, RB
2.900%, 01/01/2035		4,150		3,584
New York State, Urban Development, Build America Project, RB
5.770%, 03/15/2039		8,225		8,604

				23,637

Oregon — 0.1%
Oregon State, School Boards Association, Ser B, GO
5.550%, 06/30/2028		4,000		4,075


Pennsylvania — 0.1%
Pennsylvania State, Economic Development Financing Authority, RB
2.152%, 06/15/2029		5,465		4,754


Texas — 0.1%
City of Houston, Airport System Revenue, Sub-Ser C, RB
2.085%, 07/01/2028		2,320		2,058
Grand Parkway, Transportation Corp, Ser E, RB
5.184%, 10/01/2042		555		570
North Texas, Tollway Authority, Build America Project, RB
6.718%, 01/01/2049		845		1,045
Texas State, Build America Project, GO
5.517%, 04/01/2039		565		596


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MUNICIPAL BONDS (continued)
Texas State, Dallas Area, Rapid Transit, RB
1.147%, 12/01/2026	$	1,200	$	1,073

				5,342


Total Municipal Bonds
(Cost $123,200) ($ Thousands)				111,621



SOVEREIGN DEBT — 0.6%

Israel Government International Bond
3.875%, 07/03/2050		1,280		1,027
Korea Development Bank
4.375%, 02/15/2028		5,150		5,124
1.750%, 02/18/2025		6,080		5,757
Poland Government International Bond
4.875%, 10/04/2033		3,865		3,851
Province of Quebec Canada
6.350%, 01/30/2026		270		281
2.500%, 04/09/2024		8,955		8,747

Total Sovereign Debt
(Cost $25,479) ($ Thousands)				24,787


	Shares
CASH EQUIVALENT — 1.2%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		49,297,852		49,298

Total Cash Equivalent
(Cost $49,298) ($ Thousands)				49,298


Total Investments in Securities — 99.1%
(Cost $4,424,902) ($ Thousands)			$	4,123,131

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

	Percentages are based on Net Assets of $4,159,244 ($ Thousands).
**	The rate reported is the 7-day effective yield as of May 31, 2023.
^†	Investment in Affiliated Security (see Note 6).
(A)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $633,413 ($ Thousands), representing 15.2% of the Net Assets of the Fund.
(B)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(C)	Perpetual security with no stated maturity date.
(D)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.
(E)	Interest rate represents the security's effective yield at the time of purchase.
(F)	Security, or a portion thereof, has been pledged as collateral on open futures contracts. The total market value of such securities as of May 31, 2023 was $1,065 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

Corporate Obligations

–

3,539,624

–

3,539,624

U.S. Treasury Obligations

–

397,801

–

397,801

Municipal Bonds

–

111,621

–

111,621

Sovereign Debt

–

24,787

–

24,787

Cash Equivalent

49,298

–

49,298

Total Investments in Securities

49,298

4,073,833

–

4,123,131

Other Financial Instruments	Level 1 ($)			Level 2 ($)		Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Depreciation		(520	)		–		–		(520	)
Total Other Financial Instruments		(520	)		–		–		(520	)

*	Futures contracts are valued at the unrealized depreciation on the instrument.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 79.6%

Communication Services — 7.0%
Activision Blizzard Inc *		28,339	$	2,273
Alphabet Inc, Cl A *		238,172		29,264
Alphabet Inc, Cl C *		207,600		25,612
AT&T Inc		284,243		4,471
Charter Communications Inc, Cl A *		4,215		1,375
Comcast Corp, Cl A		167,932		6,608
DISH Network Corp, Cl A *		12,501		80
Electronic Arts Inc		10,544		1,350
Fox Corp		18,266		559
Interpublic Group of Cos Inc/The		15,200		565
Live Nation Entertainment Inc *		6,000		480
Match Group Inc *		11,900		411
Meta Platforms Inc, Cl A *		89,004		23,561
Netflix Inc *		17,732		7,008
News Corp		4,000		74
News Corp, Cl A		16,100		295
Omnicom Group Inc		7,999		705
Paramount Global, Cl B		21,540		328
Take-Two Interactive Software Inc *		6,400		881
T-Mobile US Inc *		23,609		3,240
Verizon Communications Inc		167,592		5,971
Walt Disney Co/The *		72,921		6,414
Warner Bros Discovery Inc *		89,280		1,007

				122,532
Consumer Discretionary — 8.1%
Advance Auto Parts Inc		2,400		175
Amazon.com Inc *		356,480		42,984
Aptiv PLC *		10,924		962
AutoZone Inc *		699		1,668
Bath & Body Works Inc		9,700		342
Best Buy Co Inc		7,700		560
Booking Holdings Inc *		1,545		3,876
BorgWarner Inc		9,900		439
Caesars Entertainment Inc *		9,000		369


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
CarMax Inc *		6,100	$	440
Carnival Corp, Cl A *		42,200		474
Chipotle Mexican Grill Inc, Cl A *		1,066		2,214
Darden Restaurants Inc		4,900		777
Domino's Pizza Inc		1,500		435
DR Horton Inc		12,674		1,354
eBay Inc		21,381		910
Etsy Inc *		4,900		397
Expedia Group Inc *		5,785		554
Ford Motor Co		158,476		1,902
Garmin Ltd		6,200		640
General Motors Co		56,495		1,831
Genuine Parts Co		5,650		841
Hasbro Inc		5,400		320
Hilton Worldwide Holdings Inc		10,761		1,465
Home Depot Inc/The		40,743		11,549
Las Vegas Sands Corp *		13,236		730
Lennar Corp, Cl A		10,195		1,092
LKQ Corp		10,200		538
Lowe's Cos Inc		24,078		4,843
Marriott International Inc/MD, Cl A		10,728		1,800
McDonald's Corp		29,279		8,348
MGM Resorts International		12,615		496
Mohawk Industries Inc *		2,228		205
Newell Brands Inc		14,699		122
NIKE Inc, Cl B		49,678		5,229
Norwegian Cruise Line Holdings Ltd *		15,900		236
NVR Inc *		120		666
O'Reilly Automotive Inc *		2,438		2,202
Pool Corp		1,600		506
PulteGroup Inc		8,800		581
Ralph Lauren Corp, Cl A		1,600		170
Ross Stores Inc		13,974		1,448
Royal Caribbean Cruises Ltd *		8,600		696
Starbucks Corp		45,866		4,478
Tapestry Inc		10,000		400
Tesla Inc *		107,529		21,928
TJX Cos Inc/The		46,042		3,536
Tractor Supply Co		4,494		942
Ulta Beauty Inc *		2,032		833
VF Corp		13,824		238
Whirlpool Corp		2,200		284
Wynn Resorts Ltd		4,000		395
Yum! Brands Inc		11,312		1,456

				141,876
Consumer Staples — 5.5%
Altria Group Inc		71,136		3,160
Archer-Daniels-Midland Co		22,107		1,562
Brown-Forman Corp, Cl B		7,125		440
Bunge Ltd		6,000		556
Campbell Soup Co		7,700		389
Church & Dwight Co Inc		9,817		908


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Clorox Co/The		5,000	$	791
Coca-Cola Co/The		155,488		9,276
Colgate-Palmolive Co		33,182		2,468
Conagra Brands Inc		19,200		669
Constellation Brands Inc, Cl A		6,407		1,557
Costco Wholesale Corp		17,751		9,081
Dollar General Corp		9,010		1,812
Dollar Tree Inc *		8,397		1,133
Estee Lauder Cos Inc/The, Cl A		9,365		1,723
General Mills Inc		23,869		2,009
Hershey Co/The		5,955		1,547
Hormel Foods Corp		12,200		467
J M Smucker Co/The		4,282		628
Kellogg Co		10,300		688
Keurig Dr Pepper Inc		34,367		1,069
Kimberly-Clark Corp		13,691		1,838
Kraft Heinz Co/The		32,166		1,229
Kroger Co/The		26,367		1,195
Lamb Weston Holdings Inc		5,800		645
McCormick & Co Inc/MD		10,100		866
Molson Coors Beverage Co, Cl B		7,900		489
Mondelez International Inc, Cl A		54,289		3,985
Monster Beverage Corp *		30,776		1,804
PepsiCo Inc		54,990		10,027
Philip Morris International Inc		61,842		5,566
Procter & Gamble Co/The		94,226		13,427
Sysco Corp		20,569		1,439
Target Corp		18,293		2,395
Tyson Foods Inc, Cl A		11,472		581
Walgreens Boots Alliance Inc		28,152		855
Walmart Inc		55,992		8,224

				96,498
Energy — 3.3%
APA Corp		12,400		394
Baker Hughes Co, Cl A		40,679		1,109
Chevron Corp		71,027		10,698
ConocoPhillips		48,769		4,843
Coterra Energy Inc, Cl A		31,781		739
Devon Energy Corp		26,444		1,219
Diamondback Energy Inc		7,400		941
EOG Resources Inc		23,365		2,507
EQT Corp		14,300		497
Exxon Mobil Corp		164,587		16,817
Halliburton Co		36,519		1,046
Hess Corp		11,247		1,425
Kinder Morgan Inc		79,984		1,289
Marathon Oil Corp		25,500		565
Marathon Petroleum Corp		18,381		1,928
Occidental Petroleum Corp		29,403		1,695
ONEOK Inc		18,066		1,024
Phillips 66		18,906		1,732
Pioneer Natural Resources Co		9,619		1,918


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Schlumberger NV		56,538	$	2,422
Targa Resources Corp		9,100		619
Valero Energy Corp		15,651		1,675
Williams Cos Inc/The		49,305		1,413

				58,515
Financials — 10.0%
Aflac Inc		22,655		1,455
Allstate Corp/The		10,612		1,151
American Express Co		23,676		3,754
American International Group Inc		30,063		1,588
Ameriprise Financial Inc		4,263		1,272
Aon PLC, Cl A		8,145		2,511
Arch Capital Group Ltd *		14,947		1,042
Arthur J Gallagher & Co		8,557		1,714
Assurant Inc		2,100		252
Bank of America Corp		278,663		7,744
Bank of New York Mellon Corp/The		29,758		1,196
Berkshire Hathaway Inc, Cl B *		71,978		23,111
BlackRock Inc, Cl A		5,976		3,930
Brown & Brown Inc		9,400		586
Capital One Financial Corp		15,455		1,611
Cboe Global Markets Inc		4,100		543
Charles Schwab Corp/The		60,798		3,203
Chubb Ltd		16,495		3,065
Cincinnati Financial Corp		6,300		608
Citigroup Inc		77,163		3,420
Citizens Financial Group Inc		20,365		525
CME Group Inc, Cl A		14,309		2,558
Comerica Inc		5,200		188
Discover Financial Services		10,818		1,111
Everest Re Group Ltd		1,700		578
Eversource Energy		14,108		977
FactSet Research Systems Inc		1,500		577
Fidelity National Information Services Inc		23,956		1,307
Fifth Third Bancorp		26,742		649
Fiserv Inc *		25,279		2,836
FleetCor Technologies Inc *		3,000		680
Franklin Resources Inc		12,100		291
Global Payments Inc		10,591		1,035
Globe Life Inc		3,800		392
Goldman Sachs Group Inc/The		13,488		4,369
Hartford Financial Services Group Inc/The		12,408		850
Huntington Bancshares Inc/OH		59,726		616
Intercontinental Exchange Inc		22,191		2,351
Invesco Ltd		18,100		260
Jack Henry & Associates Inc		2,800		428
JPMorgan Chase & Co		117,205		15,906
KeyCorp		39,854		372
Lincoln National Corp		7,200		151
Loews Corp		7,600		426
M&T Bank Corp		6,790		809
MarketAxess Holdings Inc		1,500		409


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Marsh & McLennan Cos Inc		19,720	$	3,415
Mastercard Inc, Cl A		33,687		12,296
MetLife Inc		26,645		1,320
Moody's Corp		6,236		1,976
Morgan Stanley		52,122		4,261
MSCI Inc, Cl A		3,163		1,488
Nasdaq Inc		13,988		774
Northern Trust Corp		8,605		619
PayPal Holdings Inc *		45,033		2,792
PNC Financial Services Group Inc/The		16,247		1,882
Principal Financial Group Inc		9,120		597
Progressive Corp/The		23,283		2,978
Prudential Financial Inc		14,839		1,168
Raymond James Financial Inc		8,008		724
Regions Financial Corp		38,682		668
S&P Global Inc		13,146		4,830
Synchrony Financial		17,011		527
T Rowe Price Group Inc		8,798		943
Travelers Cos Inc/The		9,355		1,583
Truist Financial Corp		53,674		1,635
US Bancorp		56,367		1,685
Visa Inc, Cl A		64,924		14,350
W R Berkley Corp		7,950		443
Wells Fargo & Co		152,079		6,054
Willis Towers Watson PLC		4,302		941
Zions Bancorp NA		5,500		150

				174,506
Health Care — 10.9%
Abbott Laboratories		69,619		7,101
AbbVie Inc		70,657		9,748
Agilent Technologies Inc		11,956		1,383
Align Technology Inc *		2,913		823
AmerisourceBergen Corp		6,561		1,116
Amgen Inc		21,274		4,694
Baxter International Inc		20,338		828
Becton Dickinson & Co		11,265		2,723
Biogen Inc *		5,750		1,704
Bio-Rad Laboratories Inc, Cl A *		863		322
Bio-Techne Corp		6,600		540
Boston Scientific Corp *		56,972		2,933
Bristol-Myers Squibb Co		84,826		5,466
Cardinal Health Inc		10,398		856
Catalent Inc *		7,700		287
Centene Corp *		22,284		1,391
Charles River Laboratories International Inc *		2,000		387
Cigna Group/The		11,862		2,935
Cooper Cos Inc/The		2,000		743
CVS Health Corp		51,112		3,477
Danaher Corp		26,176		6,011
DaVita Inc *		2,200		206
DENTSPLY SIRONA Inc		8,600		311


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Dexcom Inc *		15,630	$	1,833
Edwards Lifesciences Corp *		25,036		2,109
Elevance Health Inc		9,543		4,274
Eli Lilly & Co		31,507		13,531
GE HealthCare Technologies Inc		14,634		1,164
Gilead Sciences Inc		49,743		3,827
HCA Healthcare Inc		8,445		2,231
Henry Schein Inc *		5,200		384
Hologic Inc *		9,712		766
Humana Inc		5,049		2,534
IDEXX Laboratories Inc *		3,278		1,523
Illumina Inc *		6,371		1,253
Incyte Corp *		7,200		443
Insulet Corp *		2,800		768
Intuitive Surgical Inc *		13,978		4,303
IQVIA Holdings Inc *		7,509		1,479
Johnson & Johnson		104,515		16,206
Laboratory Corp of America Holdings		3,665		779
McKesson Corp		5,477		2,141
Medtronic PLC		53,035		4,389
Merck & Co Inc		101,244		11,178
Mettler-Toledo International Inc *		900		1,190
Moderna Inc *		13,338		1,703
Molina Healthcare Inc *		2,300		630
Organon & Co		9,490		184
Pfizer Inc		224,140		8,522
Quest Diagnostics Inc		4,500		597
Regeneron Pharmaceuticals Inc *		4,336		3,189
ResMed Inc		5,923		1,248
Revvity Inc		5,100		588
STERIS PLC		3,913		782
Stryker Corp		13,479		3,715
Teleflex Inc		1,800		423
Thermo Fisher Scientific Inc		15,704		7,985
UnitedHealth Group Inc		37,357		18,202
Universal Health Services Inc, Cl B		2,700		357
Vertex Pharmaceuticals Inc *		10,266		3,322
Viatris Inc		51,274		469
Waters Corp *		2,451		616
West Pharmaceutical Services Inc		2,954		988
Zimmer Biomet Holdings Inc		8,438		1,074
Zoetis Inc, Cl A		18,530		3,021

				191,905
Industrials — 6.6%
3M Co		22,256		2,077
A O Smith Corp		5,300		339
Alaska Air Group Inc *		5,300		238
Allegion plc		3,533		370
American Airlines Group Inc *		25,900		383
AMETEK Inc		9,309		1,351
Automatic Data Processing Inc		16,492		3,447
Axon Enterprise Inc *		2,700		521


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Boeing Co/The *		22,396	$	4,607
Broadridge Financial Solutions Inc		4,600		675
Carrier Global Corp		33,678		1,377
Caterpillar Inc		20,715		4,262
Ceridian HCM Holding Inc *		6,500		402
CH Robinson Worldwide Inc		4,600		435
Cintas Corp		3,421		1,615
Copart Inc *		17,286		1,514
CoStar Group Inc *		16,390		1,301
CSX Corp		83,683		2,567
Cummins Inc		5,706		1,166
Deere & Co		10,762		3,723
Delta Air Lines Inc *		25,246		917
Dover Corp		5,506		734
Eaton Corp PLC		15,816		2,782
Emerson Electric Co		23,119		1,796
Equifax Inc		4,990		1,041
Expeditors International of Washington Inc		6,538		721
Fastenal Co		23,111		1,245
FedEx Corp		9,388		2,046
Fortive Corp		14,188		924
Generac Holdings Inc *		2,700		294
General Dynamics Corp		9,091		1,856
General Electric Co		43,420		4,408
Honeywell International Inc		26,677		5,111
Howmet Aerospace Inc		14,829		634
Huntington Ingalls Industries Inc		1,700		342
IDEX Corp		2,900		578
Illinois Tool Works Inc		11,218		2,454
Ingersoll Rand Inc		16,283		923
Jacobs Solutions Inc		4,900		537
JB Hunt Transport Services Inc		3,300		551
Johnson Controls International plc		27,772		1,658
L3Harris Technologies Inc		7,696		1,354
Leidos Holdings Inc		5,300		414
Lockheed Martin Corp		9,103		4,042
Masco Corp		8,700		420
Nordson Corp		2,100		458
Norfolk Southern Corp		9,069		1,888
Northrop Grumman Corp		5,717		2,490
Old Dominion Freight Line Inc		3,688		1,145
Otis Worldwide Corp		16,745		1,331
PACCAR Inc		21,087		1,450
Parker-Hannifin Corp		5,203		1,667
Paychex Inc		12,947		1,359
Paycom Software Inc		1,900		532
Pentair PLC		6,946		385
Quanta Services Inc		5,814		1,032
Raytheon Technologies Corp		58,406		5,382
Republic Services Inc, Cl A		8,343		1,182
Robert Half International Inc		4,300		280
Rockwell Automation Inc		4,605		1,283


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Rollins Inc		9,725	$	382
Snap-on Inc		2,100		523
Southwest Airlines Co		24,530		733
Stanley Black & Decker Inc		5,700		427
Textron Inc		8,100		501
Trane Technologies PLC		9,279		1,515
TransDigm Group Inc		2,068		1,600
Union Pacific Corp		24,422		4,702
United Airlines Holdings Inc *		12,765		606
United Parcel Service Inc, Cl B		29,122		4,863
United Rentals Inc		2,796		933
Verisk Analytics Inc, Cl A		6,316		1,384
Waste Management Inc		14,767		2,391
Westinghouse Air Brake Technologies Corp		7,486		693
WW Grainger Inc		1,777		1,153
Xylem Inc/NY		7,300		732

				115,154
Information Technology — 22.3%
Accenture PLC, Cl A		25,116		7,684
Adobe Inc *		18,284		7,639
Advanced Micro Devices Inc *		64,333		7,605
Akamai Technologies Inc *		6,100		562
Amphenol Corp, Cl A		24,061		1,815
Analog Devices Inc		20,210		3,591
ANSYS Inc *		3,521		1,139
Apple Inc		594,856		105,438
Applied Materials Inc		33,603		4,479
Arista Networks Inc *		9,861		1,640
Autodesk Inc *		8,692		1,733
Broadcom Inc		16,654		13,456
Cadence Design Systems Inc *		11,063		2,555
CDW Corp/DE		5,441		934
Cisco Systems Inc		164,092		8,150
Cognizant Technology Solutions Corp, Cl A		20,518		1,282
Corning Inc		30,688		946
DXC Technology Co *		8,938		224
Enphase Energy Inc *		5,468		951
EPAM Systems Inc *		2,377		610
F5 Inc *		2,300		339
Fair Isaac Corp *		1,000		788
First Solar Inc *		4,035		819
Fortinet Inc *		26,198		1,790
Gartner Inc *		3,193		1,095
Gen Digital Inc		24,200		424
Hewlett Packard Enterprise Co		50,375		726
HP Inc		34,836		1,012
Intel Corp		164,963		5,186
International Business Machines Corp		36,008		4,630
Intuit Inc		11,173		4,683
Juniper Networks Inc		13,800		419
Keysight Technologies Inc *		7,179		1,162
KLA Corp		5,482		2,429


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Lam Research Corp		5,370	$	3,312
Microchip Technology Inc		22,154		1,667
Micron Technology Inc		43,462		2,964
Microsoft Corp		297,660		97,749
Monolithic Power Systems Inc		1,748		856
Motorola Solutions Inc		6,730		1,897
NetApp Inc		8,400		557
NVIDIA Corp		98,347		37,209
NXP Semiconductors NV		10,317		1,848
ON Semiconductor Corp *		17,430		1,457
Oracle Corp		61,319		6,496
PTC Inc *		4,200		565
Qorvo Inc *		3,900		379
QUALCOMM Inc		44,468		5,043
Roper Technologies Inc		4,163		1,891
salesforce.com *		39,954		8,925
Seagate Technology Holdings PLC		7,500		451
ServiceNow Inc *		8,067		4,395
Skyworks Solutions Inc		6,354		658
SolarEdge Technologies Inc *		2,300		655
Synopsys Inc *		6,053		2,754
TE Connectivity Ltd		12,768		1,564
Teledyne Technologies Inc *		1,902		739
Teradyne Inc		6,300		631
Texas Instruments Inc		36,207		6,296
Trimble Inc *		9,600		448
Tyler Technologies Inc *		1,700		675
VeriSign Inc *		3,740		835
Western Digital Corp *		12,403		480
Zebra Technologies Corp, Cl A *		2,000		525

				391,856
Materials — 1.9%
Air Products and Chemicals Inc		8,974		2,415
Albemarle Corp		4,696		909
Amcor PLC		59,707		576
Avery Dennison Corp		3,200		516
Ball Corp		12,600		645
Celanese Corp, Cl A		4,200		437
CF Industries Holdings Inc		8,046		495
Corteva Inc		28,859		1,544
Dow Inc		28,473		1,389
DuPont de Nemours Inc		18,539		1,246
Eastman Chemical Co		4,600		355
Ecolab Inc		9,987		1,648
FMC Corp		5,100		531
Freeport-McMoRan Inc, Cl B		57,885		1,988
International Flavors & Fragrances Inc		9,973		771
International Paper Co		13,800		406
Linde PLC		19,633		6,943
LyondellBasell Industries NV, Cl A		9,955		851
Martin Marietta Materials Inc		2,470		983
Mosaic Co/The		13,963		446


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Newmont Corp		32,097	$	1,301
Nucor Corp		10,282		1,358
Packaging Corp of America		3,700		459
PPG Industries Inc		9,515		1,249
Sealed Air Corp		6,000		227
Sherwin-Williams Co/The		9,349		2,129
Steel Dynamics Inc		6,725		618
Vulcan Materials Co		5,221		1,021
Westrock Co		10,741		301

				33,757
Real Estate — 1.9%
Alexandria Real Estate Equities Inc ^‡		6,303		715
American Tower Corp, Cl A ^‡		18,556		3,422
AvalonBay Communities Inc ^‡		5,615		977
Boston Properties Inc ^‡		5,700		277
Camden Property Trust ^‡		4,400		460
CBRE Group Inc, Cl A *		12,465		934
Crown Castle Inc ^‡		17,494		1,981
Digital Realty Trust Inc ^‡		11,622		1,191
Equinix Inc ^‡		3,714		2,769
Equity Residential ^‡		13,729		835
Essex Property Trust Inc ^‡		2,566		554
Extra Space Storage Inc ^‡		5,245		757
Federal Realty Investment Trust ^‡		2,800		247
Healthpeak Properties Inc ^‡		23,100		461
Host Hotels & Resorts Inc ^‡		27,785		461
Invitation Homes Inc ^‡		23,400		793
Iron Mountain Inc ^‡		11,671		623
Kimco Realty Corp ^‡		24,000		441
Mid-America Apartment Communities Inc ^‡		4,763		700
Prologis Inc ^‡		36,808		4,584
Public Storage ^‡		6,356		1,801
Realty Income Corp ^‡		25,353		1,507
Regency Centers Corp ^‡		6,500		366
SBA Communications Corp, Cl A ^‡		4,312		956
Simon Property Group Inc ^‡		13,233		1,391
UDR Inc ^‡		12,000		476
Ventas Inc ^‡		16,500		712
VICI Properties Inc, Cl A ^‡		40,596		1,256
Welltower Inc ^‡		19,093		1,425
Weyerhaeuser Co ^‡		28,778		825

				33,897
Utilities — 2.1%
AES Corp/The		26,800		529
Alliant Energy Corp		9,800		504
Ameren Corp		10,196		827
American Electric Power Co Inc		20,824		1,731
American Water Works Co Inc		7,772		1,123
Atmos Energy Corp		5,722		660
CenterPoint Energy Inc		25,392		716
CMS Energy Corp		11,700		678


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Consolidated Edison Inc		14,337	$	1,338
Constellation Energy Corp		13,226		1,111
Dominion Energy Inc		33,694		1,694
DTE Energy Co		7,617		819
Duke Energy Corp		30,600		2,732
Edison International		15,471		1,045
Entergy Corp		8,011		787
Evergy Inc		8,899		515
Exelon Corp		40,226		1,595
FirstEnergy Corp		21,364		799
NextEra Energy Inc		79,298		5,825
NiSource Inc		15,700		422
NRG Energy Inc		9,700		328
PG&E Corp *		64,998		1,101
Pinnacle West Capital Corp		4,500		348
PPL Corp		30,418		797
Public Service Enterprise Group Inc		20,127		1,202
Sempra Energy		12,738		1,828
Southern Co/The		43,367		3,025
WEC Energy Group Inc		12,755		1,114
Xcel Energy Inc		22,146		1,446

				36,639
Total Common Stock
(Cost $486,774) ($ Thousands)				1,397,135



CASH EQUIVALENT — 0.0%
SEI Daily Income Trust, Government Fund, Institutional Class
4.910%**^†		490,407		490

Total Cash Equivalent
(Cost $490) ($ Thousands)				490



PURCHASED OPTION — 0.0%
Total Purchased Option
(Cost $2,081) ($ Thousands)				434


Total Investments in Securities — 79.6%
(Cost $489,345) ($ Thousands)			$	1,398,059

A list of the open exchange traded options contracts held by the Fund at May 31, 2023 is as follows:

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open centrally cleared swap agreements held by the Fund at May 31, 2023 is as follows:

Other Financial Instruments	Level 1 ($)		Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		7,247		–			–		7,247
OTC Swaps
Total Return Swaps*
Unrealized Depreciation		–		(8,260	)		–		(8,260	)
Centrally Cleared Swaps
Interest Rate Swaps*
Unrealized Appreciation		–		163			–		163
Unrealized Depreciation		–		(1,547	)		–		(1,547	)
Total Other Financial Instruments		7,247		(9,644	)		–		(2,397	)

*	Futures contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the Fund’s transactions with affiliates for the year ended May 31, 2023 ($ Thousands):

^†	Percentages are based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS — 70.2%
U.S. Treasury Bills ^(A)
4.912%, 10/12/2023	$	10,000	$	9,807
4.910%, 10/05/2023		10,500		10,309
4.888%, 06/13/2023		900		899
4.834%, 09/28/2023		11,500		11,308
4.804%, 08/10/2023		1,900		1,881
4.728%, 09/21/2023		11,500		11,318
4.725%, 09/14/2023		11,500		11,330
4.708%, 09/07/2023		9,750		9,616
3.121%, 06/15/2023		400		399
U.S. Treasury Inflation-Protected Securities
0.375%, 07/15/2027 (G)		177,704		168,501
0.125%, 07/15/2024 (G)(I)(K)		201,151		195,242
0.125%, 07/15/2026 (G)		87,732		83,178
U.S. Treasury Notes ^
5.490%, US Treasury 3 Month Bill Money Market Yield + 0.200%, 01/31/2025 (B)		10,300		10,319
5.459%, US Treasury 3 Month Bill Money Market Yield + 0.169%, 04/30/2025 (B)		5,000		5,003
5.430%, US Treasury 3 Month Bill Money Market Yield + 0.140%, 10/31/2024 (B)		8,100		8,108
5.327%, US Treasury 3 Month Bill Money Market Yield + 0.037%, 07/31/2024 (B)		4,000		4,000


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS (continued)
5.325%, US Treasury 3 Month Bill Money Market Yield + 0.035%, 10/31/2023 (B)	$	7,000	$	7,001
5.319%, US Treasury 3 Month Bill Money Market Yield + 0.029%, 07/31/2023 (B)(J)		6,500		6,500
5.275%, US Treasury 3 Month Bill Money Market Yield + -0.015%, 01/31/2024 (B)(J)		6,700		6,700
4.625%, 02/28/2025		700		700
4.000%, 02/15/2026		200		199
3.250%, 08/31/2024		400		392

Total U.S. Treasury Obligations
(Cost $567,692) ($ Thousands)				562,710


	Shares
COMMON STOCK — 29.6%

Communication Services — 2.6%
Activision Blizzard Inc *		7,679		616
Alphabet Inc, Cl A *		25,806		3,171
Alphabet Inc, Cl C *		22,580		2,786
AMC Entertainment Holdings Inc, Cl A		6,800		31
AT&T Inc (H)		132,343		2,082
Cogent Communications Holdings Inc		619		38
Electronic Arts Inc		2,767		354
Frontier Communications Parent Inc *		4,229		63
GCI Liberty		1,350		—
Iridium Communications Inc		2,248		135
Liberty Latin America Ltd, Cl C *		2,523		18
Liberty Media Corp-Liberty Formula One, Cl C *		2,116		149
Live Nation Entertainment Inc *		1,421		114
Lumen Technologies Inc		10,378		20
Madison Square Garden Entertainment Corp *		600		21
Madison Square Garden Sports Corp, Cl A		200		35
Marcus Corp/The		1,800		27
Match Group Inc *		1,565		54
Meta Platforms Inc, Cl A *		9,326		2,469
Netflix Inc *		3,944		1,559
Pinterest Inc, Cl A *		3,707		89
ROBLOX Corp, Cl A *		3,931		164
Roku Inc, Cl A *		1,062		62
Spotify Technology SA *		1,370		204
Take-Two Interactive Software Inc *		1,611		222
T-Mobile US Inc *		11,421		1,567
Verizon Communications Inc		77,038		2,745
Walt Disney Co/The *		16,157		1,421
Warner Bros Discovery Inc * (H)		20,039		226
World Wrestling Entertainment Inc, Cl A		500		51


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ZoomInfo Technologies Inc, Cl A *		1,008	$	25

				20,518
Consumer Staples — 7.3%
Albertsons Cos Inc, Cl A		3,736		76
Altria Group Inc (H)		40,851		1,815
Andersons Inc/The		800		31
Archer-Daniels-Midland Co		12,555		887
B&G Foods Inc, Cl A		1,900		24
Beauty Health Co/The *		2,445		20
BellRing Brands Inc *		3,647		134
Beyond Meat Inc *		1,700		17
BJ's Wholesale Club Holdings Inc *		3,148		197
Boston Beer Co Inc/The, Cl A *		205		69
Brown-Forman Corp, Cl A		929		58
Brown-Forman Corp, Cl B		4,424		273
Bunge Ltd		3,281		304
Cal-Maine Foods Inc		1,050		50
Campbell Soup Co		4,678		237
Casey's General Stores Inc		722		163
Celsius Holdings Inc *		1,296		163
Central Garden & Pet Co, Cl A *		1,000		34
Chefs' Warehouse Inc/The *		756		24
Church & Dwight Co Inc		5,803		537
Clorox Co/The		2,964		469
Coca-Cola Co/The (H)		88,735		5,294
Coca-Cola Consolidated Inc		147		97
Colgate-Palmolive Co		18,785		1,397
Conagra Brands Inc		11,399		398
Constellation Brands Inc, Cl A		3,610		877
Costco Wholesale Corp (H)		10,118		5,176
Coty Inc, Cl A *		7,476		81
Darling Ingredients Inc *		3,736		237
Dollar General Corp		5,038		1,013
Dollar Tree Inc *		4,666		629
Edgewell Personal Care Co		1,167		45
elf Beauty Inc *		1,145		119
Energizer Holdings Inc		1,230		40
Estee Lauder Cos Inc/The, Cl A		5,363		987
Flowers Foods Inc		4,385		110
Freshpet Inc *		1,096		66
General Mills Inc		13,907		1,170
Grocery Outlet Holding Corp *		1,716		49
Hain Celestial Group Inc/The *		1,883		23
Herbalife Ltd *		2,138		25
Hershey Co/The		3,410		886
Hormel Foods Corp		6,725		257
Hostess Brands Inc, Cl A *		3,221		80
Ingles Markets Inc, Cl A		353		28
Ingredion Inc		1,801		188
Inter Parfums Inc		352		44
J & J Snack Foods Corp		306		47
J M Smucker Co/The		2,466		362


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kellogg Co		5,743	$	383
Keurig Dr Pepper Inc		20,368		634
Kimberly-Clark Corp		7,973		1,071
Kraft Heinz Co/The		16,405		627
Kroger Co/The		15,092		684
Lamb Weston Holdings Inc		3,381		376
Lancaster Colony Corp		519		102
McCormick & Co Inc/MD		5,847		501
Medifast Inc		213		17
MGP Ingredients Inc		281		27
Molson Coors Beverage Co, Cl B		3,872		240
Mondelez International Inc, Cl A		30,378		2,230
Monster Beverage Corp *		17,028		998
Nu Skin Enterprises Inc, Cl A		1,200		40
Olaplex Holdings Inc *		3,800		12
PepsiCo Inc (H)		31,354		5,717
Performance Food Group Co *		3,507		194
Philip Morris International Inc (H)		35,039		3,154
Pilgrim's Pride Corp *		1,094		24
Post Holdings Inc *		1,321		112
PriceSmart Inc		500		36
Primo Water Corp		3,711		48
Procter & Gamble Co/The (H)		54,000		7,695
Simply Good Foods Co/The *		1,933		70
Spectrum Brands Holdings Inc		1,124		81
Sprouts Farmers Market Inc *		2,643		91
SunOpta Inc *		2,721		18
Sysco Corp		11,650		815
Target Corp		10,509		1,376
TreeHouse Foods Inc *		1,077		51
Tyson Foods Inc, Cl A (H)		6,277		318
United Natural Foods Inc *		1,367		37
Universal Corp/VA		522		27
US Foods Holding Corp *		5,075		202
Utz Brands Inc		2,326		38
Vector Group Ltd		2,064		24
Walgreens Boots Alliance Inc		17,077		519
Walmart Inc (H)		32,682		4,800
WD-40 Co		232		44
Weis Markets Inc		322		19

				58,759
Energy — 7.0%
Antero Midstream Corp		11,327		116
Antero Resources Corp *		8,554		175
APA Corp		10,124		322
Arch Resources Inc		500		52
Archrock Inc		5,801		52
Ardmore Shipping Corp		1,600		19
Baker Hughes Co, Cl A		31,439		857
Borr Drilling Ltd *		6,014		41
Bristow Group Inc *		1,455		36
Cactus Inc, Cl A		2,100		66


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
California Resources Corp		1,779	$	67
Callon Petroleum Co *		1,638		50
ChampionX Corp		6,416		162
Cheniere Energy Inc		8,179		1,143
Chesapeake Energy Corp		4,160		313
Chevron Corp (H)		62,935		9,479
Chord Energy Corp		1,433		205
Civitas Resources Inc		2,261		151
Clean Energy Fuels Corp *		6,093		24
CNX Resources Corp *		6,776		105
Comstock Resources Inc		2,821		26
ConocoPhillips (H)		40,047		3,977
CONSOL Energy Inc		1,116		60
Coterra Energy Inc, Cl A		25,779		599
CVR Energy Inc		1,300		30
Delek US Holdings Inc		2,748		60
Denbury Inc *		1,760		159
Devon Energy Corp		21,304		982
DHT Holdings Inc		4,200		32
Diamond Offshore Drilling Inc *		3,988		44
Diamondback Energy Inc		5,934		754
Dorian LPG Ltd		1,300		30
Dril-Quip Inc *		1,243		28
DT Midstream Inc		3,536		161
Energy Fuels Inc/Canada *		5,400		32
Enviva Inc		1,200		11
EOG Resources Inc		18,836		2,021
EQT Corp		11,941		415
Equitrans Midstream Corp		11,793		101
Expro Group Holdings NV *		2,834		47
Exxon Mobil Corp (H)		133,441		13,635
FLEX LNG Ltd		1,519		45
Frontline PLC		4,209		59
Golar LNG Ltd		2,968		61
Green Plains Inc *		1,800		52
Gulfport Energy Corp *		343		33
Halliburton Co		28,985		830
Helix Energy Solutions Group Inc *		4,380		27
Helmerich & Payne Inc		3,490		108
Hess Corp		9,307		1,179
HF Sinclair Corp		4,348		180
International Seaways Inc		1,557		56
Kinder Morgan Inc		66,380		1,069
Kosmos Energy Ltd *		15,701		94
Liberty Energy Inc, Cl A		4,121		48
Magnolia Oil & Gas Corp, Cl A		4,995		97
Marathon Oil Corp		20,630		457
Marathon Petroleum Corp (H)		15,075		1,581
Matador Resources Co		3,605		158
Murphy Oil Corp		4,268		149
Nabors Industries Ltd *		272		23
New Fortress Energy Inc, Cl A		1,557		41


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
NexTier Oilfield Solutions Inc *		3,915	$	29
Noble Corp PLC *		2,535		96
Nordic American Tankers Ltd		8,800		31
Northern Oil and Gas Inc		1,999		60
NOV Inc		12,107		170
Occidental Petroleum Corp		25,936		1,495
Oceaneering International Inc *		3,433		53
Oil States International Inc *		2,800		18
ONEOK Inc		14,800		839
Ovintiv Inc		8,119		268
Par Pacific Holdings Inc *		1,041		22
Patterson-UTI Energy Inc		6,717		65
PBF Energy Inc, Cl A		3,833		141
PDC Energy Inc		2,836		195
Peabody Energy Corp		3,694		67
Permian Resources Corp, Cl A		7,788		73
Phillips 66		15,379		1,409
Pioneer Natural Resources Co		7,744		1,544
ProPetro Holding Corp *		3,700		25
Range Resources Corp		7,732		212
REX American Resources Corp *		900		30
Schlumberger NV		46,075		1,973
Scorpio Tankers Inc		1,523		70
SFL Corp Ltd		3,700		32
Sitio Royalties Corp, Cl A		2,700		69
SM Energy Co		4,129		109
Southwestern Energy Co *		34,762		166
Targa Resources Corp		7,209		491
Teekay Tankers Ltd, Cl A		800		29
Tellurian Inc *		13,838		17
Texas Pacific Land Corp		175		228
Tidewater Inc *		1,679		75
Uranium Energy Corp *		12,449		32
US Silica Holdings Inc *		2,700		31
Valaris Ltd *		1,913		110
Valero Energy Corp (H)		12,694		1,359
Vertex Energy Inc *		2,400		16
Vital Energy Inc *		532		22
Weatherford International PLC *		2,324		131
Williams Cos Inc/The		40,738		1,168
World Fuel Services Corp		1,371		31

				55,987
Financials — 0.0%
Eversource Energy		3,953		274


Health Care — 6.0%
10X Genomics Inc, Cl A *		1,068		56
Abbott Laboratories		15,148		1,545
AbbVie Inc		15,519		2,141
AbCellera Biologics Inc *		4,477		31
Acadia Healthcare Co Inc *		1,044		74
ACADIA Pharmaceuticals Inc *		1,620		38


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Agilent Technologies Inc		2,608	$	302
agilon health Inc *		1,512		30
Agios Pharmaceuticals Inc *		864		22
Align Technology Inc *		657		186
Alkermes PLC *		2,280		66
Alnylam Pharmaceuticals Inc *		1,068		198
Amedisys Inc *		553		42
AmerisourceBergen Corp, Cl A		1,297		221
Amgen Inc (H)		4,700		1,037
AMN Healthcare Services Inc *		343		33
Apellis Pharmaceuticals Inc *		786		67
Arrowhead Pharmaceuticals Inc *		811		28
Avantor Inc *		5,731		114
Axonics Inc *		428		21
Axsome Therapeutics Inc *		300		22
Azenta Inc *		800		35
Baxter International Inc (H)		4,425		180
Beam Therapeutics Inc *		777		25
Becton Dickinson & Co		2,540		614
BioCryst Pharmaceuticals Inc *		3,904		32
Biogen Inc *		1,266		375
Biohaven Ltd *		1,300		23
BioMarin Pharmaceutical Inc *		1,667		145
Bio-Rad Laboratories Inc, Cl A *		171		64
Bio-Techne Corp		1,186		97
Blueprint Medicines Corp *		513		29
Boston Scientific Corp *		12,541		646
Bristol-Myers Squibb Co		19,048		1,227
Bruker Corp		983		68
Cardinal Health Inc		2,164		178
Catalent Inc *		1,430		53
Centene Corp *		4,873		304
Certara Inc *		1,400		29
Charles River Laboratories International Inc *		422		82
Chemed Corp		120		64
Chinook Therapeutics Inc *		900		22
Cigna Group/The		2,641		653
CONMED Corp		356		43
Cooper Cos Inc/The		506		188
CorVel Corp *		175		34
Crinetics Pharmaceuticals Inc *		1,400		31
Cullinan Oncology Inc *		700		7
CVS Health Corp		11,276		767
Cytokinetics Inc *		1,186		45
Danaher Corp		5,654		1,298
DaVita Inc *		552		52
Denali Therapeutics Inc *		1,052		32
DENTSPLY SIRONA Inc		1,615		58
Dexcom Inc *		3,318		389
Doximity Inc, Cl A *		1,457		45
Edwards Lifesciences Corp *		5,416		456


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Elanco Animal Health Inc *		3,699	$	30
Elevance Health Inc		2,181		977
Eli Lilly & Co		7,396		3,176
Embecta Corp		1,000		28
Enanta Pharmaceuticals Inc *		437		10
Encompass Health Corp		899		56
Enovis Corp *		700		37
Ensign Group Inc/The		316		28
Envista Holdings Corp *		1,548		49
Evolent Health Inc, Cl A *		1,300		38
Exact Sciences Corp *		1,639		134
Exelixis Inc *		2,130		41
FibroGen Inc *		1,500		26
GE HealthCare Technologies Inc		3,377		268
Gilead Sciences Inc (H)		11,100		854
Globus Medical Inc, Cl A *		724		39
Guardant Health Inc *		1,200		35
Haemonetics Corp *		612		52
Halozyme Therapeutics Inc *		1,214		39
HCA Healthcare Inc		1,864		492
HealthEquity Inc *		537		29
Henry Schein Inc *		947		70
Hologic Inc *		2,063		163
Horizon Therapeutics Plc *		1,923		192
Humana Inc		1,168		586
ICU Medical Inc *		114		20
IDEXX Laboratories Inc *		739		343
Illumina Inc *		1,383		272
Inari Medical Inc *		552		33
Incyte Corp *		1,619		100
Insmed Inc *		1,162		22
Inspire Medical Systems Inc *		181		53
Insulet Corp *		673		185
Integra LifeSciences Holdings Corp *		591		22
Intellia Therapeutics Inc *		1,130		42
Intra-Cellular Therapies Inc *		696		41
Intuitive Surgical Inc *		3,060		942
Ionis Pharmaceuticals Inc *		1,026		42
IQVIA Holdings Inc *		1,626		320
iRhythm Technologies Inc *		384		44
IVERIC bio Inc *		1,272		48
Jazz Pharmaceuticals PLC *		495		63
Johnson & Johnson (H)		22,875		3,547
Karuna Therapeutics Inc *		172		39
Laboratory Corp of America Holdings		761		162
Lantheus Holdings Inc *		514		44
LivaNova PLC *		478		21
Madrigal Pharmaceuticals Inc *		81		23
Masimo Corp *		388		63
McKesson Corp		1,232		482
Medpace Holdings Inc *		271		56
Medtronic PLC		12,005		994


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Merck & Co Inc		22,388	$	2,472
Merit Medical Systems Inc *		545		45
Mettler-Toledo International Inc *		183		242
Mirati Therapeutics Inc *		553		21
Moderna Inc *		2,915		372
Molina Healthcare Inc *		430		118
Natera Inc *		590		28
Neogen Corp *		2,177		38
Neurocrine Biosciences Inc *		797		71
Novocure Ltd *		734		53
Omnicell Inc *		600		44
Option Care Health Inc *		2,000		55
Organon & Co		1,977		38
Pacific Biosciences of California Inc *		2,700		33
Pacira BioSciences Inc *		616		23
Penumbra Inc *		361		111
Perrigo Co PLC		1,059		34
Pfizer Inc		49,578		1,885
Premier Inc, Cl A		1,700		42
Progyny Inc *		891		33
Prometheus Biosciences Inc *		353		70
Prothena Corp PLC *		415		28
PTC Therapeutics Inc *		616		26
QIAGEN NV *		2,385		108
Quest Diagnostics Inc		947		126
QuidelOrtho Corp *		500		43
R1 RCM Inc *		1,920		31
Reata Pharmaceuticals Inc, Cl A *		300		27
Regeneron Pharmaceuticals Inc *		910		669
Repligen Corp *		391		66
ResMed Inc		1,187		250
Revance Therapeutics Inc *		1,110		34
REVOLUTION Medicines Inc *		1,149		29
Revvity Inc		935		108
Royalty Pharma PLC, Cl A		3,018		99
Sage Therapeutics Inc *		727		36
Sarepta Therapeutics Inc *		750		93
Seagen Inc *		1,127		221
Select Medical Holdings Corp		900		25
Shockwave Medical Inc *		362		100
Silk Road Medical Inc *		5		—
Sotera Health Co *		1,500		21
STAAR Surgical Co *		583		34
STERIS PLC		795		159
Stryker Corp		3,063		844
Syneos Health Inc, Cl A *		1,030		43
Tandem Diabetes Care Inc *		742		19
Teladoc Health Inc *		1,272		29
Teleflex Inc		457		107
Tenet Healthcare Corp *		904		64
TG Therapeutics Inc *		800		21
Thermo Fisher Scientific Inc		3,424		1,741


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Travere Therapeutics Inc *		1,300	$	23
Twist Bioscience Corp *		1,022		15
Ultragenyx Pharmaceutical Inc *		600		30
United Therapeutics Corp *		436		91
UnitedHealth Group Inc (H)		8,151		3,971
Universal Health Services Inc, Cl B		474		63
Vaxcyte Inc *		951		47
Veeva Systems Inc, Cl A *		1,127		187
Vertex Pharmaceuticals Inc *		2,246		727
Viatris Inc		9,166		84
Vir Biotechnology Inc *		900		24
Waters Corp *		631		159
West Pharmaceutical Services Inc		703		235
Xencor Inc *		1,372		37
Zimmer Biomet Holdings Inc		1,969		251
Zoetis Inc, Cl A		4,066		663

				47,772
Industrials — 0.0%
Ceridian HCM Holding Inc *		500		31
Paycom Software Inc		161		45
Paylocity Holding Corp *		183		32

				108
Information Technology — 2.3%
Accenture PLC, Cl A		2,346		718
Adobe Inc *		1,798		751
Akamai Technologies Inc *		500		46
Amdocs Ltd		915		86
ANSYS Inc *		304		98
Aspen Technology Inc *		163		27
Atlassian Corp Ltd, Cl A *		682		123
Autodesk Inc *		878		175
Bentley Systems Inc, Cl B		1,300		63
BILL Holdings Inc *		474		49
Black Knight Inc *		800		46
Cadence Design Systems Inc *		953		220
Cloudflare Inc, Cl A *		1,807		125
Cognizant Technology Solutions Corp, Cl A		1,594		100
Crowdstrike Holdings Inc, Cl A *		950		152
Datadog Inc, Cl A *		1,216		115
DocuSign Inc, Cl A *		1,169		66
Dropbox Inc, Cl A *		81		2
DXC Technology Co *		900		23
Dynatrace Inc *		801		41
EPAM Systems Inc *		259		66
Fair Isaac Corp *		91		72
Five9 Inc *		400		26
Fortinet Inc *		2,797		191
Gartner Inc *		214		73
Gen Digital Inc		1,216		21
Globant SA *		300		55
GoDaddy Inc, Cl A *		453		33


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Guidewire Software Inc *		450	$	37
HubSpot Inc *		149		77
International Business Machines Corp		3,132		403
Intuit Inc		1,059		444
Manhattan Associates Inc *		255		46
Microsoft Corp (H)		29,310		9,625
MongoDB Inc, Cl A *		308		91
Nutanix Inc, Cl A *		910		27
Okta Inc, Cl A *		824		75
Oracle Corp		5,680		602
Palantir Technologies Inc, Cl A *		8,052		118
Palo Alto Networks Inc *		1,151		246
PTC Inc *		552		74
Roper Technologies Inc		367		167
Salesforce Inc *		3,786		846
ServiceNow Inc *		774		422
Smartsheet Inc, Cl A *		900		45
Snowflake Inc, Cl A *		1,110		184
Splunk Inc *		530		53
Synopsys Inc *		617		281
Twilio Inc, Cl A *		900		63
Tyler Technologies Inc *		210		83
UiPath Inc, Cl A *		3,000		54
Unity Software Inc *		782		23
VeriSign Inc *		190		42
VMware Inc, Cl A *		927		126
Workday Inc, Cl A *		923		196
Zoom Video Communications Inc, Cl A *		1,061		71
Zscaler Inc *		384		52

				18,136
Real Estate — 3.0%
Acadia Realty Trust ^‡		2,216		28
Agree Realty Corp ^‡		1,507		97
Alexander & Baldwin Inc ^‡		1,957		36
Alexandria Real Estate Equities Inc ^‡		3,606		409
American Assets Trust Inc ^‡		1,195		23
American Homes 4 Rent, Cl A ^‡		6,510		223
American Tower Corp, Cl A ^‡		9,386		1,731
Americold Realty Trust Inc ^‡		5,232		153
Apartment Income REIT Corp ^‡		3,578		124
Apartment Investment and Management Co, Cl A ^‡		5,526		45
Apple Hospitality REIT Inc ^‡		6,044		88
Armada Hoffler Properties Inc ^‡		5,700		63
AvalonBay Communities Inc ^‡		2,633		458
Boston Properties Inc ^‡		2,892		141
Brixmor Property Group Inc ^‡		5,985		120
Broadstone Net Lease Inc, Cl A ^‡		2,993		47
Camden Property Trust ^‡		2,155		225
CareTrust REIT Inc ^‡		2,280		44
CBRE Group Inc, Cl A *		6,232		467
Community Healthcare Trust Inc ^‡		1,400		46


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Corporate Office Properties Trust ^‡		1,539	$	35
Cousins Properties Inc ^‡		2,391		48
Crown Castle Inc ^‡		8,471		959
CubeSmart ^‡		4,473		199
Cushman & Wakefield PLC *		3,441		27
DiamondRock Hospitality Co ^‡		5,854		46
Digital Realty Trust Inc ^‡		6,042		619
DigitalBridge Group Inc		2,192		27
Douglas Elliman Inc		6,000		17
Douglas Emmett Inc ^‡		2,355		27
Easterly Government Properties Inc, Cl A ^‡		2,218		31
EastGroup Properties Inc ^‡		907		149
Elme Communities ^‡		2,280		34
Empire State Realty Trust Inc, Cl A ^‡		4,345		27
EPR Properties ^‡		2,057		86
Equinix Inc ^‡		1,813		1,352
Equity Commonwealth ^‡		2,008		41
Equity LifeStyle Properties Inc ^‡		3,604		228
Equity Residential ^‡		7,218		439
Essential Properties Realty Trust Inc ^‡		2,849		68
Essex Property Trust Inc ^‡		1,241		268
Extra Space Storage Inc ^‡		2,575		371
Federal Realty Investment Trust ^‡		1,767		156
First Industrial Realty Trust Inc ^‡		2,860		149
Forestar Group Inc *		1,200		24
Four Corners Property Trust Inc ^‡		1,969		51
Gaming and Leisure Properties Inc ^‡		4,922		237
Getty Realty Corp ^‡		1,263		43
Global Net Lease Inc ^‡		2,876		28
Healthcare Realty Trust Inc, Cl A ^‡		6,414		119
Healthpeak Properties Inc ^‡		10,757		215
Highwoods Properties Inc ^‡		1,853		38
Host Hotels & Resorts Inc ^‡		13,475		224
Howard Hughes Corp/The *		900		67
Independence Realty Trust Inc ^‡		6,901		119
Innovative Industrial Properties Inc, Cl A ^‡		457		30
InvenTrust Properties Corp ^‡		2,196		47
Invitation Homes Inc ^‡		11,537		391
Iron Mountain Inc ^‡		5,612		300
JBG SMITH Properties ^‡		1,684		24
Jones Lang LaSalle Inc *		1,110		156
Kennedy-Wilson Holdings Inc		2,800		43
Kilroy Realty Corp ^‡		2,900		79
Kimco Realty Corp ^‡		12,513		230
Kite Realty Group Trust ^‡		4,074		79
Lamar Advertising Co, Cl A ^‡		1,848		166
Life Storage Inc ^‡		1,648		210
LTC Properties Inc ^‡		1,186		38
LXP Industrial Trust, Cl B ^‡		4,939		51
Macerich Co/The ^‡		3,669		35
Medical Properties Trust Inc ^‡		10,327		85
Mid-America Apartment Communities Inc ^‡		2,340		344


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
National Health Investors Inc ^‡		778	$	41
National Storage Affiliates Trust ^‡		1,690		62
NETSTREIT Corp ^‡		2,210		39
NNN REIT Inc ^‡		4,076		173
Omega Healthcare Investors Inc ^‡		5,052		151
Opendoor Technologies Inc *		11,700		31
Outfront Media Inc ^‡		2,481		36
Park Hotels & Resorts Inc ^‡		3,915		51
Pebblebrook Hotel Trust ^‡		2,591		35
Phillips Edison & Co Inc ^‡		2,643		77
Physicians Realty Trust ^‡		3,014		41
Piedmont Office Realty Trust Inc, Cl A ^‡		3,163		20
Plymouth Industrial REIT Inc ^‡		3,100		68
Postal Realty Trust Inc, Cl A ^‡		3,900		57
PotlatchDeltic Corp ^‡		2,023		94
Prologis Inc ^‡		18,051		2,248
Public Storage ^‡		3,022		856
Rayonier Inc ^‡		2,576		76
Realty Income Corp ^‡		11,948		710
Regency Centers Corp ^‡		3,794		213
Retail Opportunity Investments Corp ^‡		1,650		20
Rexford Industrial Realty Inc ^‡		3,930		214
RLJ Lodging Trust ^‡		4,000		41
Ryman Hospitality Properties Inc ^‡		885		81
Sabra Health Care REIT Inc ^‡		3,075		35
Safehold Inc ^‡		2,000		52
Saul Centers Inc ^‡		762		26
SBA Communications Corp, Cl A ^‡		2,169		481
Service Properties Trust ^‡		4,566		37
Simon Property Group Inc ^‡		6,189		651
SITE Centers Corp ^‡		2,662		32
SL Green Realty Corp ^‡		849		20
Spirit Realty Capital Inc ^‡		2,450		96
St Joe Co/The		1,200		56
STAG Industrial Inc ^‡		2,878		100
Sun Communities Inc ^‡		2,373		300
Sunstone Hotel Investors Inc ^‡		6,180		61
Tanger Factory Outlet Centers Inc ^‡		3,001		61
Terreno Realty Corp ^‡		1,886		116
UDR Inc ^‡		6,446		256
Urban Edge Properties ^‡		2,687		36
Ventas Inc ^‡		7,789		336
Veris Residential Inc *^‡		1,337		22
VICI Properties Inc, Cl A ^‡		18,993		587
Vornado Realty Trust ^‡		2,656		36
Welltower Inc ^‡		9,196		686
Weyerhaeuser Co ^‡		14,278		409
WP Carey Inc ^‡		3,980		276
Xenia Hotels & Resorts Inc ^‡		2,075		24
Zillow Group Inc, Cl A *		1,096		49
Zillow Group Inc, Cl C *		3,163		144

				23,864


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Utilities — 1.4%
AES Corp/The		7,689	$	152
ALLETE Inc		814		49
Alliant Energy Corp		2,641		136
Ameren Corp		2,660		216
American Electric Power Co Inc		5,843		486
American States Water Co		552		49
American Water Works Co Inc		2,098		303
Atmos Energy Corp		1,655		191
Avangrid Inc		995		37
Avista Corp		1,096		45
Black Hills Corp		514		31
Brookfield Infrastructure Corp, Cl A		1,393		64
Brookfield Renewable Corp, Cl A		1,186		40
California Water Service Group		1,012		58
CenterPoint Energy Inc		7,808		220
Chesapeake Utilities Corp		200		26
Clearway Energy Inc, Cl C		1,259		36
CMS Energy Corp		3,004		174
Consolidated Edison Inc		3,934		367
Constellation Energy Corp		3,825		321
Dominion Energy Inc		8,942		450
DTE Energy Co		2,072		223
Duke Energy Corp		8,665		774
Edison International		4,480		302
Entergy Corp		2,106		207
Essential Utilities Inc		3,200		130
Evergy Inc		2,068		120
Exelon Corp		11,069		439
FirstEnergy Corp		5,848		219
Hawaiian Electric Industries Inc		1,767		63
IDACORP Inc		436		45
MGE Energy Inc		736		53
National Fuel Gas Co		1,064		54
New Jersey Resources Corp		1,275		62
NextEra Energy Inc		21,569		1,584
NiSource Inc		4,522		122
Northwest Natural Holding Co		500		21
NorthWestern Corp		953		54
NRG Energy Inc		2,215		75
OGE Energy Corp		1,535		54
ONE Gas Inc		451		37
Ormat Technologies Inc		500		43
Otter Tail Corp		400		30
PG&E Corp *		17,837		302
Pinnacle West Capital Corp		1,182		91
PNM Resources Inc		558		26
Portland General Electric Co		1,026		50
PPL Corp		8,337		218
Public Service Enterprise Group Inc		5,996		358
Sempra Energy		3,593		516
SJW Group		424		32


Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Southern Co/The		12,279	$	856
Southwest Gas Holdings Inc		943		55
Spire Inc		334		22
Sunnova Energy International Inc *		1,400		25
UGI Corp		2,404		67
Vistra Corp		3,968		95
WEC Energy Group Inc		3,588		313
Xcel Energy Inc		6,141		401
York Water Co/The		700		30

				11,619
Total Common Stock
(Cost $154,683) ($ Thousands)				237,037


	Face Amount (Thousands)
CORPORATE OBLIGATIONS — 7.3%
Communication Services — 0.5%
Altice Financing
3.000%, 01/15/2028	EUR	226		185
Altice France
3.375%, 01/15/2028		112		88
CCO Holdings LLC
4.750%, 02/01/2032 (C)	$	489		392
4.500%, 08/15/2030 (C)		54		44
4.500%, 06/01/2033 (C)		189		144
DISH DBS
5.250%, 12/01/2026 (C)		920		727
Globo Comunicacao e Participacoes
4.875%, 01/22/2030 (C)		415		338
Lorca Telecom Bondco
4.000%, 09/18/2027	EUR	226		219
Prosus
3.257%, 01/19/2027 (C)	$	262		238
Summer BC Holdco B SARL
5.750%, 10/31/2026	EUR	226		212
Tencent Holdings MTN
3.240%, 06/03/2050 (C)	$	412		272
Time Warner Cable LLC
4.500%, 09/15/2042		245		181
T-Mobile USA
5.050%, 07/15/2033		246		243
3.875%, 04/15/2030		175		162
Warnermedia Holdings
3.755%, 03/15/2027		525		492

				3,937

Consumer Discretionary — 1.0%
Advance Auto Parts
3.900%, 04/15/2030		784		706
Alibaba Group Holding
2.125%, 02/09/2031		958		788


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Caesars Entertainment
7.000%, 02/15/2030 (C)	$	219	$	220
Carnival
4.000%, 08/01/2028 (C)		527		460
Expedia Group
6.250%, 05/01/2025 (C)		24		24
Ford Motor
6.100%, 08/19/2032		369		347
Harley-Davidson Financial Services
6.500%, 03/10/2028 (C)		26		26
3.050%, 02/14/2027 (C)		634		568
Las Vegas Sands Corp
3.900%, 08/08/2029		653		578
LKQ
6.250%, 06/15/2033 (C)		157		158
5.750%, 06/15/2028 (C)		356		354
Marriott International
4.900%, 04/15/2029		401		393
MDC Holdings
6.000%, 01/15/2043		340		299
Mercedes-Benz Finance North America LLC
4.800%, 03/30/2026 (C)		353		352
Nissan Motor
4.345%, 09/17/2027 (C)		1,034		924
Ross Stores
4.700%, 04/15/2027		946		932
Royal Caribbean Cruises
8.250%, 01/15/2029 (C)		203		214
Wynn Macau
5.625%, 08/26/2028 (C)		341		287
ZF North America Capital
6.875%, 04/14/2028 (C)		619		622

				8,252

Consumer Staples — 0.6%
Albertsons Cos
3.500%, 03/15/2029 (C)		351		305
Altria Group
4.800%, 02/14/2029		160		156
3.400%, 05/06/2030		850		752
BAT Capital
4.906%, 04/02/2030		447		425
2.259%, 03/25/2028		1,268		1,089
Cargill
5.125%, 10/11/2032 (C)		210		214
ERAC USA Finance LLC
4.600%, 05/01/2028 (C)		397		389
Natura & Luxembourg Holdings Sarl
6.000%, 04/19/2029 (C)		319		285
Natura Cosmeticos
4.125%, 05/03/2028 (C)		271		228


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Philip Morris International
5.625%, 11/17/2029	$	97	$	99
5.375%, 02/15/2033		606		602
4.875%, 02/13/2026		594		593
Virgolino de Oliveira Finance
10.500%, 01/28/2018 (C)(D)		500		–

				5,137

Energy — 0.4%
BP Capital Markets America
4.893%, 09/11/2033		236		235
2.939%, 06/04/2051		494		330
Continental Resources/Oklahoma
2.268%, 11/15/2026 (C)		960		858
EQT
5.700%, 04/01/2028		116		115
ONEOK
6.350%, 01/15/2031		124		128
6.100%, 11/15/2032		77		78
ONEOK Partners
6.125%, 02/01/2041		54		52
Ovintiv
6.250%, 07/15/2033		172		171
5.650%, 05/15/2028		117		116
TransCanada PipeLines
6.100%, 06/01/2040		486		492
Var Energi
8.000%, 11/15/2032 (C)		357		377
7.500%, 01/15/2028 (C)		276		288

				3,240

Financials — 2.8%
AIB Group
7.583%, U.S. SOFR + 3.456%, 10/14/2026 (B)(C)		308		315
AIB Group MTN
4.263%, ICE LIBOR USD 3 Month + 1.874%, 04/10/2025 (B)(C)		630		615
Aircastle
5.250%, 08/11/2025 (C)		432		420
4.250%, 06/15/2026		54		51
4.125%, 05/01/2024		172		168
2.850%, 01/26/2028 (C)		778		665
Aviation Capital Group LLC
5.500%, 12/15/2024 (C)		432		424
4.875%, 10/01/2025 (C)		175		168
4.375%, 01/30/2024 (C)		152		149
4.125%, 08/01/2025 (C)		6		6
3.500%, 11/01/2027 (C)		157		140
1.950%, 01/30/2026 (C)		406		363
1.950%, 09/20/2026 (C)		142		123


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Banco de Credito del Peru S.A. MTN
3.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.000%, 07/01/2030 (B)(C)	$	728	$	667
Banco Santander
4.175%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.000%, 03/24/2028 (B)		200		188
Bank of Ireland Group
6.253%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.650%, 09/16/2026 (B)(C)		368		366
Barclays
6.224%, U.S. SOFR + 2.980%, 05/09/2034 (B)		409		413
BNP Paribas
4.625%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.340%(B)(E)		724		512
2.871%, U.S. SOFR + 1.387%, 04/19/2032 (B)(C)		687		567
Capital One Financial
4.927%, U.S. SOFR + 2.057%, 05/10/2028 (B)		270		259
2.636%, U.S. SOFR + 1.290%, 03/03/2026 (B)		447		419
Charles Schwab
5.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.971%(B)(E)		179		172
4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.168%(B)(E)		583		476
Citigroup
9.341%, ICE LIBOR USD 3 Month + 4.068%(B)(E)		93		92
4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.597%(B)(E)		348		298
Credit Suisse Group
6.373%, U.S. SOFR + 3.340%, 07/15/2026 (B)(C)		277		272
4.194%, U.S. SOFR + 3.730%, 04/01/2031 (B)(C)		382		336
Danske Bank
6.466%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.100%, 01/09/2026 (B)(C)		277		277
4.298%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.750%, 04/01/2028 (B)(C)		207		195


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Deutsche Bank NY
6.119%, U.S. SOFR + 3.190%, 07/14/2026 (B)	$	194	$	191
3.961%, U.S. SOFR + 2.581%, 11/26/2025 (B)		295		280
2.129%, U.S. SOFR + 1.870%, 11/24/2026 (B)		330		293
Global Payments
5.300%, 08/15/2029		240		236
2.900%, 11/15/2031		131		107
Goldman Sachs Group
4.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.949%(B)(E)		296		241
HSBC Holdings PLC
8.113%, U.S. SOFR + 4.250%, 11/03/2033 (B)		762		847
7.390%, U.S. SOFR + 3.350%, 11/03/2028 (B)		558		596
2.804%, U.S. SOFR + 1.187%, 05/24/2032 (B)		364		296
Intesa Sanpaolo
7.000%, 11/21/2025 (C)		210		215
Lloyds Banking Group
8.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.913%(B)(E)		330		303
7.953%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 3.750%, 11/15/2033 (B)		535		584
7.500%, USD Swap Semi 30/360 5 Yr Curr + 4.760%(B)(E)		805		775
Mizuho Financial Group
5.414%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.050%, 09/13/2028 (B)		369		370
Morgan Stanley
6.296%, U.S. SOFR + 2.240%, 10/18/2028 (B)		389		404
4.210%, U.S. SOFR + 1.610%, 04/20/2028 (B)		305		294
0.406%, 10/29/2027 (B)	EUR	438		410
Nationwide Building Society MTN
2.972%, U.S. SOFR + 1.290%, 02/16/2028 (B)(C)	$	307		278
Natwest Group PLC
4.269%, ICE LIBOR USD 3 Month + 1.762%, 03/22/2025 (B)		595		585
NatWest Group PLC
7.472%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.850%, 11/10/2026 (B)		240		249


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
OEC Finance
7.125%cash/0% PIK, 12/26/2046 (C)	$	246	$	15
5.250%cash/0% PIK, 12/27/2033 (C)		223		8
PNC Financial Services Group
5.068%, U.S. SOFR + 1.933%, 01/24/2034 (B)		107		103
S&P Global
4.750%, 08/01/2028		31		31
Santander Holdings USA
6.499%, U.S. SOFR + 2.356%, 03/09/2029 (B)		228		231
4.260%, SOFRINDX + 1.380%, 06/09/2025 (B)		117		112
2.490%, U.S. SOFR + 1.249%, 01/06/2028 (B)		85		75
Santander UK Group Holdings PLC
6.833%, U.S. SOFR + 2.749%, 11/21/2026 (B)		535		541
Societe Generale
2.797%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.300%, 01/19/2028 (B)(C)		613		544
Standard Chartered
6.783%, ICE LIBOR USD 3 Month + 1.510%(B)(C)(E)		400		351
6.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.661%(B)(C)(E)		514		487
3.971%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.650%, 03/30/2026 (B)(C)		207		199
Svenska Handelsbanken
4.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.048%(B)(E)		600		465
Swiss Re Finance Luxembourg
5.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.582%, 04/02/2049 (B)		400		382
Synchrony Financial
4.875%, 06/13/2025		292		275
3.950%, 12/01/2027		296		256
Truist Financial MTN
5.122%, U.S. SOFR + 1.852%, 01/26/2034 (B)		386		369
UniCredit
3.127%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.550%, 06/03/2032 (B)(C)		350		279
2.569%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.300%, 09/22/2026 (B)(C)		421		381


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
1.982%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.200%, 06/03/2027 (B)(C)	$	229	$	202
US Bancorp
5.300%, TSFR3M + 3.176%(B)(E)		408		330
Wells Fargo
3.900%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.453%(B)(E)		306		268

				22,574

Health Care — 0.1%
Organon & Co
2.875%, 04/30/2028	EUR	200		185
Zoetis
5.400%, 11/14/2025	$	308		312

				497

Industrials — 0.8%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
2.450%, 10/29/2026		569		507
Air Lease
3.625%, 04/01/2027		38		35
2.100%, 09/01/2028		165		136
Air Lease MTN
2.875%, 01/15/2026		83		77
APCOA Parking Holdings GmbH
4.625%, 01/15/2027	EUR	226		207
CNH Industrial Capital LLC
3.950%, 05/23/2025	$	583		567
Delta Air Lines
4.750%, 10/20/2028 (C)		450		435
Delta Air Lines/Skymiles LP
4.500%, 10/20/2025 (C)		323		317
Embraer Netherlands Finance BV
5.400%, 02/01/2027		575		552
ENA Master Trust
4.000%, 05/19/2048 (C)		269		202
Flowserve
2.800%, 01/15/2032		228		182
Honeywell International
4.125%, 11/02/2034	EUR	720		779
Lima Metro Line 2 Finance
5.875%, 07/05/2034	$	218		211
4.350%, 04/05/2036 (C)		205		183
Odebrecht Holdco Finance
0.000%, 09/10/2058 (C)(F)		480		3
Parker-Hannifin
4.500%, 09/15/2029		443		433
Regal Rexnord
6.050%, 02/15/2026 (C)		770		772


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
TK Elevator Midco GmbH
4.375%, 07/15/2027	EUR	118	$	112
Trane Technologies Financing
5.250%, 03/03/2033	$	140		143
Verisk Analytics
5.750%, 04/01/2033		237		246
Westinghouse Air Brake Technologies
3.200%, 06/15/2025		134		127

				6,226

Information Technology — 0.6%
Broadcom
4.926%, 05/15/2037 (C)		247		222
4.150%, 11/15/2030		183		168
4.150%, 04/15/2032 (C)		144		130
4.000%, 04/15/2029 (C)		41		38
Entegris Escrow
4.750%, 04/15/2029 (C)		611		571
Infor
1.750%, 07/15/2025 (C)		323		295
Kyndryl Holdings
2.050%, 10/15/2026		568		486
Lenovo Group
6.536%, 07/27/2032		323		326
5.831%, 01/27/2028		661		662
Micron Technology
6.750%, 11/01/2029		499		522
Seagate HDD Cayman
8.250%, 12/15/2029 (C)		456		466
SK Hynix
2.375%, 01/19/2031 (C)		262		199
TSMC Arizona
3.875%, 04/22/2027		345		335
Workday
3.700%, 04/01/2029		61		57

				4,477

Materials — 0.1%
Freeport Indonesia MTN
4.763%, 04/14/2027 (C)		225		219
Glencore Funding LLC
5.400%, 05/08/2028 (C)		291		289
Volcan Cia Minera SAA
4.375%, 02/11/2026 (C)		69		47

				555

Real Estate — 0.1%
American Tower
5.250%, 07/15/2028		174		174
4.050%, 03/15/2032		104		95
3.650%, 03/15/2027		205		193


Description	Face Amount (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS (continued)
Host Hotels & Resorts
3.500%, 09/15/2030	$	131	$	111

				573

Utilities — 0.3%
AES Panama Generation Holdings SRL
4.375%, 05/31/2030 (C)		294		257
Chile Electricity PEC
0.000%, 01/25/2028 (C)(F)		491		366
Comision Federal de Electricidad
4.688%, 05/15/2029 (C)		294		263
Duke Energy Carolinas NC Storm Funding LLC
2.617%, 07/01/2041		314		237
Enel Finance International
7.500%, 10/14/2032 (C)		400		442
Engie Energia Chile
3.400%, 01/28/2030		349		288
NRG Energy
7.000%, 03/15/2033 (C)		456		460
Terraform Global Operating LLC
6.125%, 03/01/2026 (C)		77		74
Vistra
7.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.740%(B)(C)(E)		272		239

				2,626

Total Corporate Obligations
(Cost $63,749) ($ Thousands)				58,094



ASSET-BACKED SECURITIES — 4.0%
Automotive — 1.8%

Americredit Automobile Receivables Trust, Ser 2023-1, Cl A2A
5.840%, 10/19/2026		922		922
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-3A, Cl A
5.440%, 02/22/2028(C)		589		586
Avis Budget Rental Car Funding AESOP LLC, Ser 2023-5A, Cl B
6.120%, 04/20/2028(C)		485		485
Carvana Auto Receivables Trust, Ser 2021-N3, Cl C
1.020%, 06/12/2028		156		147
Carvana Auto Receivables Trust, Ser 2021-N4, Cl D
2.300%, 09/11/2028		329		306


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Carvana Auto Receivables Trust, Ser 2021-P4, Cl D
2.610%, 09/11/2028	$	420	$	355
CPS Auto Receivables Trust, Ser 2022-A, Cl C
2.170%, 04/16/2029(C)		600		567
DT Auto Owner Trust, Ser 2023-1A, Cl A
5.480%, 04/15/2027(C)		767		762
FHF Trust, Ser 2021-2A, Cl A
0.830%, 12/15/2026(C)		141		135
FHF Trust, Ser 2023-1A, Cl A2
6.570%, 06/15/2028(C)		456		454
Flagship Credit Auto Trust, Ser 2023-2, Cl A2
5.760%, 04/15/2027(C)		781		778
Ford Credit Auto Owner Trust, Ser 2021-1, Cl D
2.310%, 10/17/2033(C)		510		450
Hertz Vehicle Financing III LLC, Ser 2022-1A, Cl C
2.630%, 06/25/2026(C)		600		550
LAD Auto Receivables Trust, Ser 2021-1A, Cl A
1.300%, 08/17/2026(C)		190		185
LAD Auto Receivables Trust, Ser 2022-1A, Cl A
5.210%, 06/15/2027(C)		467		461
Lendbuzz Securitization Trust, Ser 2023-1A, Cl A2
6.920%, 08/15/2028(C)		1,338		1,334
Lendbuzz Securitization Trust, Ser 2023-2A, Cl A2
7.090%, 10/16/2028(C)		555		556
Research-Driven Pagaya Motor Asset Trust VII, Ser 2022-3A, Cl A
5.380%, 11/25/2030(C)		616		604
Santander Bank Auto Credit-Linked Notes, Ser 2022-A, Cl B
5.281%, 05/15/2032(C)		488		478
Santander Bank Auto Credit-Linked Notes, Ser 2022-B, Cl B
5.721%, 08/16/2032(C)		504		500
Santander Bank Auto Credit-Linked Notes, Ser 2022-C, Cl B
6.451%, 12/15/2032(C)		480		478
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl A
6.480%, 08/17/2026(C)		632		631
United Auto Credit Securitization Trust, Ser 2022-2, Cl A
4.390%, 04/10/2025(C)		246		245


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Westlake Automobile Receivables Trust, Ser 2023-1A, Cl A2A
5.510%, 06/15/2026(C)	$	1,040	$	1,036
Westlake Automobile Receivables Trust, Ser 2023-2A, Cl A2A
5.870%, 07/15/2026(C)		932		930
World Omni Select Auto Trust, Ser 2023-A, Cl A2A
5.920%, 03/15/2027		600		600
				14,535

Credit Cards — 0.1%

Brex Commercial Charge Card Master Trust, Ser 2022-1, Cl A
4.630%, 07/15/2025(C)		880		857
Mission Lane Credit Card Master Trust, Ser 2021-A, Cl B
2.240%, 09/15/2026(C)		152		149
				1,006

Other Asset-Backed Securities — 2.1%

AB Issuer LLC, Ser 2021-1, Cl A2
3.734%, 07/30/2051(C)		715		591
Affirm Asset Securitization Trust, Ser 2021-Z1, Cl A
1.070%, 08/15/2025(C)		73		70
Affirm Asset Securitization Trust, Ser 2021-Z2, Cl A
1.170%, 11/16/2026(C)		93		91
Affirm Asset Securitization Trust, Ser 2022-X1, Cl A
1.750%, 02/15/2027(C)		171		166
AGL CLO 10, Ser 2021-10A, Cl A
6.390%, ICE LIBOR USD 3 Month + 1.130%, 04/15/2034(B)(C)		690		679
AGL CLO 12, Ser 2021-12A, Cl A1
6.410%, ICE LIBOR USD 3 Month + 1.160%, 07/20/2034(B)(C)		837		819
Amur Equipment Finance Receivables XI LLC, Ser 2022-2A, Cl A2
5.300%, 06/21/2028(C)		284		282
Atalaya Equipment Leasing Trust, Ser 2021-1A, Cl B
2.080%, 02/15/2027(C)		170		160
Balboa Bay Loan Funding, Ser 2021-1A, Cl A
6.450%, ICE LIBOR USD 3 Month + 1.200%, 07/20/2034(B)(C)		521		509
Ballyrock CLO 15, Ser 2021-1A, Cl C
8.360%, ICE LIBOR USD 3 Month + 3.100%, 04/15/2034(B)(C)		500		464


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Ballyrock CLO 16, Ser 2021-16A, Cl A1
6.380%, ICE LIBOR USD 3 Month + 1.130%, 07/20/2034(B)(C)	$	1,054	$	1,034
Cajun Global LLC, Ser 2021-1, Cl A2
3.931%, 11/20/2051(C)		162		139
College Ave Student Loans LLC, Ser 2021-C, Cl B
2.720%, 07/26/2055(C)		212		178
Dext ABS LLC, Ser 2023-1, Cl A2
5.990%, 03/15/2032(C)		1,003		996
Diamond Issuer, Ser 2021-1A, Cl A
2.305%, 11/20/2051(C)		768		663
Domino's Pizza Master Issuer LLC, Ser 2021-1A, Cl A2I
2.662%, 04/25/2051(C)		387		333
Dryden 78 CLO, Ser 2020-78A, Cl C
7.210%, ICE LIBOR USD 3 Month + 1.950%, 04/17/2033(B)(C)		660		623
Dryden 78 CLO, Ser 2020-78A, Cl D
8.260%, ICE LIBOR USD 3 Month + 3.000%, 04/17/2033(B)(C)		340		313
Elevation CLO, Ser 2020-11A, Cl C
7.460%, ICE LIBOR USD 3 Month + 2.200%, 04/15/2033(B)(C)		580		552
Elmwood CLO IX, Ser 2021-2A, Cl D
8.200%, ICE LIBOR USD 3 Month + 2.950%, 07/20/2034(B)(C)		509		474
Flatiron CLO 21, Ser 2021-1A, Cl D
8.165%, ICE LIBOR USD 3 Month + 2.900%, 07/19/2034(B)(C)		540		501
GCI Funding I LLC, Ser 2021-1, Cl A
2.380%, 06/18/2046(C)		250		216
Goldentree Loan Management US CLO 7, Ser 2021-7A, Cl AR
6.320%, ICE LIBOR USD 3 Month + 1.070%, 04/20/2034(B)(C)		553		540
Hardee's Funding LLC, Ser 2018-1A, Cl A23
5.710%, 06/20/2048(C)		369		339
Hardee's Funding LLC, Ser 2020-1A, Cl A2
3.981%, 12/20/2050(C)		260		222
Magnetite XXVI, Ser 2021-26A, Cl A1R
6.375%, ICE LIBOR USD 3 Month + 1.120%, 07/25/2034(B)(C)		985		965
MVW LLC, Ser 2021-2A, Cl B
1.830%, 05/20/2039(C)		280		249
Neighborly Issuer LLC, Ser 2021-1A, Cl A2
3.584%, 04/30/2051(C)		274		230
Neighborly Issuer, Ser 2023-1A, Cl A2
7.308%, 01/30/2053(C)		786		776
Nelnet Student Loan Trust, Ser 2021-DA, Cl AFX
1.630%, 04/20/2062(C)		186		168


Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES (continued)
Neuberger Berman Loan Advisers CLO 43, Ser 2021-43A, Cl A
6.390%, ICE LIBOR USD 3 Month + 1.130%, 07/17/2035(B)(C)	$	624	$	610
NMEF Funding LLC, Ser 2022-B, Cl A2
6.070%, 06/15/2029(C)		325		324
OCP CLO, Ser 2021-18A, Cl AR
6.340%, ICE LIBOR USD 3 Month + 1.090%, 07/20/2032(B)(C)		722		711
Octane Receivables Trust, Ser 2021-2A, Cl B
2.020%, 09/20/2028(C)		575		523
Rad CLO 7, Ser 2020-7A, Cl C
7.260%, ICE LIBOR USD 3 Month + 2.000%, 04/17/2033(B)(C)		300		285
SMB Private Education Loan Trust, Ser 2021-E, Cl A1A
1.680%, 02/15/2051(C)		409		368
Upstart Securitization Trust, Ser 2021-3, Cl B
1.660%, 07/20/2031(C)		460		440
Voya CLO, Ser 2019-1A, Cl DR
8.110%, ICE LIBOR USD 3 Month + 2.850%, 04/15/2031(B)(C)		265		237
				16,840

Total Asset-Backed Securities
(Cost $33,761) ($ Thousands)				32,381


MORTGAGE-BACKED SECURITIES — 3.3%
Agency Mortgage-Backed Obligations — 0.3%
FHLMC CMO, Ser 2016-4585, Cl DS, IO
0.893%, 05/15/2046(B)		650		68
FHLMC CMO, Ser 2017-4693, Cl SL, IO
1.043%, 06/15/2047(B)		957		105
FHLMC CMO, Ser 2017-4719, Cl JS, IO
1.043%, 09/15/2047(B)		694		76
FHLMC CMO, Ser 2020-4954, Cl SL, IO
0.912%, 02/25/2050(B)		1,048		118
FHLMC CMO, Ser 2020-4981, Cl HS, IO
0.962%, 06/25/2050(B)		1,990		234
FNMA
3.000%, 02/01/2052		2,132		1,903
FNMA CMO, Ser 2014-78, Cl SE, IO
0.962%, 12/25/2044(B)		707		73
FNMA CMO, Ser 2016-77, Cl DS, IO
0.862%, 10/25/2046(B)		684		70
FNMA CMO, Ser 2017-62, Cl AS, IO
1.012%, 08/25/2047(B)		826		97


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
GNMA CMO, Ser 2017-122, Cl SA, IO
1.052%, 08/20/2047(B)	$	653	$	76


				2,820
Non-Agency Mortgage-Backed Obligations — 3.0%
Alternative Loan Trust, Ser 2005-20CB, Cl 3A6
5.500%, 07/25/2035		35		25
Alternative Loan Trust, Ser 2006-24CB, Cl A16
5.750%, 08/25/2036		198		111
Alternative Loan Trust, Ser 2006-J1, Cl 1A13
5.500%, 02/25/2036		82		59
AREIT Trust, Ser 2022-CRE6, Cl A
6.164%, SOFR30A + 1.250%, 01/20/2037(B)(C)		1,296		1,263
BAMLL Commercial Mortgage Securities Trust, Ser 2013-WBRK, Cl D
3.534%, 03/10/2037(B)(C)		395		284
BAMLL Commercial Mortgage Securities Trust, Ser 2017-SCH, Cl AF
6.108%, ICE LIBOR USD 1 Month + 1.000%, 11/15/2033(B)(C)		1,535		1,444
BBCMS Mortgage Trust, Ser 2020-BID, Cl A
7.247%, ICE LIBOR USD 1 Month + 2.140%, 10/15/2037(B)(C)		710		684
Bellemeade Re, Ser 2019-3A, Cl M1C
7.088%, ICE LIBOR USD 1 Month + 1.950%, 07/25/2029(B)(C)		302		303
Bellemeade Re, Ser 2021-1A, Cl M1C
7.923%, SOFR30A + 2.950%, 03/25/2031(B)(C)		378		384
Bellemeade Re, Ser 2021-2A, Cl M1B
6.473%, SOFR30A + 1.500%, 06/25/2031(B)(C)		617		609
Bellemeade Re, Ser 2022-2, Cl M1A
8.973%, SOFR30A + 4.000%, 09/27/2032(B)(C)		856		873
BFLD Trust, Ser 2021-FPM, Cl A
6.708%, ICE LIBOR USD 1 Month + 1.600%, 06/15/2038(B)(C)		1,065		1,010
BX Commercial Mortgage Trust, Ser 2019-IMC, Cl D
7.007%, ICE LIBOR USD 1 Month + 1.900%, 04/15/2034(B)(C)		152		147
BX Commercial Mortgage Trust, Ser 2019-IMC, Cl E
7.257%, ICE LIBOR USD 1 Month + 2.150%, 04/15/2034(B)(C)		610		590
Chase Mortgage Finance Trust, Ser 2007-S5, Cl 1A17
6.000%, 07/25/2037		71		34


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
CHL Mortgage Pass-Through Trust, Ser 2006-10, Cl 1A8
6.000%, 05/25/2036	$	93	$	46
CHL Mortgage Pass-Through Trust, Ser 2006-13, Cl 1A19
6.250%, 09/25/2036		48		19
COMM Mortgage Trust, Ser 2010-C1, Cl D
5.792%, 07/10/2046(B)(C)		590		562
Connecticut Avenue Securities Trust, Ser 2018-R07, Cl 1M2
7.538%, ICE LIBOR USD 1 Month + 2.400%, 04/25/2031(B)(C)		22		22
Connecticut Avenue Securities Trust, Ser 2019-R02, Cl 1M2
7.438%, ICE LIBOR USD 1 Month + 2.300%, 08/25/2031(B)(C)		5		5
Connecticut Avenue Securities Trust, Ser 2019-R03, Cl 1M2
7.288%, ICE LIBOR USD 1 Month + 2.150%, 09/25/2031(B)(C)		3		3
Connecticut Avenue Securities Trust, Ser 2020-R02, Cl 2M2
7.138%, ICE LIBOR USD 1 Month + 2.000%, 01/25/2040(B)(C)		115		115
Connecticut Avenue Securities Trust, Ser 2021-R03, Cl 1M2
6.623%, SOFR30A + 1.650%, 12/25/2041(B)(C)		304		295
Connecticut Avenue Securities Trust, Ser 2022-R01, Cl 1M2
6.873%, SOFR30A + 1.900%, 12/25/2041(B)(C)		1,008		981
Connecticut Avenue Securities Trust, Ser 2022-R02, Cl 2M1
6.173%, SOFR30A + 1.200%, 01/25/2042(B)(C)		520		517
Connecticut Avenue Securities Trust, Ser 2022-R03, Cl 1M2
8.473%, SOFR30A + 3.500%, 03/25/2042(B)(C)		744		759
Connecticut Avenue Securities Trust, Ser 2022-R04, Cl 1M2
8.073%, SOFR30A + 3.100%, 03/25/2042(B)(C)		185		186
Connecticut Avenue Securities Trust, Ser 2023-R02, Cl 1M1
7.273%, SOFR30A + 2.300%, 01/25/2043(B)(C)		444		446
Connecticut Avenue Securities Trust, Ser 2023-R04, Cl 1M1
7.273%, SOFR30A + 2.300%, 05/25/2043(B)(C)		972		972


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
Deutsche Alt-A Securities Mortgage Loan Trust, Ser 2006-AR4, Cl A2
5.518%, ICE LIBOR USD 1 Month + 0.380%, 12/25/2036(B)	$	140	$	49
FHLMC Multifamily Structured Credit Risk, Ser 2021-MN1, Cl M1
6.973%, SOFR30A + 2.000%, 01/25/2051(B)(C)		62		60
FHLMC STACR REMIC Trust, Ser 2021-DNA5, Cl M2
6.623%, SOFR30A + 1.650%, 01/25/2034(B)(C)		195		193
FHLMC STACR REMIC Trust, Ser 2021-DNA6, Cl M2
6.473%, SOFR30A + 1.500%, 10/25/2041(B)(C)		976		948
FHLMC STACR REMIC Trust, Ser 2021-DNA7, Cl M2
6.773%, SOFR30A + 1.800%, 11/25/2041(B)(C)		953		913
FHLMC STACR REMIC Trust, Ser 2021-HQA4, Cl M2
7.323%, SOFR30A + 2.350%, 12/25/2041(B)(C)		635		593
FHLMC STACR REMIC Trust, Ser 2022-DNA1, Cl M1B
6.823%, SOFR30A + 1.850%, 01/25/2042(B)(C)		533		515
FHLMC STACR REMIC Trust, Ser 2022-DNA1, Cl M1A
5.973%, SOFR30A + 1.000%, 01/25/2042(B)(C)		392		385
FHLMC STACR REMIC Trust, Ser 2022-DNA2, Cl M1A
6.273%, SOFR30A + 1.300%, 02/25/2042(B)(C)		525		522
FHLMC STACR REMIC Trust, Ser 2022-DNA4, Cl M1A
7.173%, SOFR30A + 2.200%, 05/25/2042(B)(C)		481		485
FHLMC STACR REMIC Trust, Ser 2022-DNA5, Cl M1A
7.923%, SOFR30A + 2.950%, 06/25/2042(B)(C)		592		602
FHLMC STACR REMIC Trust, Ser 2022-DNA6, Cl M1A
7.123%, SOFR30A + 2.150%, 09/25/2042(B)(C)		349		352
FHLMC STACR REMIC Trust, Ser 2022-DNA7, Cl M1A
7.473%, SOFR30A + 2.500%, 03/25/2052(B)(C)		932		939


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
FHLMC STACR REMIC Trust, Ser 2023-DNA1, Cl M1A
7.081%, SOFR30A + 2.100%, 03/25/2043(B)(C)	$	557	$	558
FHLMC STACR Trust, Ser 2019-DNA4, Cl M2
7.088%, ICE LIBOR USD 1 Month + 1.950%, 10/25/2049(B)(C)		31		31
FNMA Connecticut Avenue Securities, Ser 2015-C04, Cl 1M2
10.838%, ICE LIBOR USD 1 Month + 5.700%, 04/25/2028(B)		65		69
FNMA Connecticut Avenue Securities, Ser 2021-R02, Cl 2M2
6.973%, SOFR30A + 2.000%, 11/25/2041(B)(C)		429		410
GS Mortgage Securities Trust, Ser 2011-GC5, Cl D
5.153%, 08/10/2044(B)(C)		12		4
GS Mortgage Securities Trust, Ser 2014-GC18, Cl D
5.055%, 01/10/2047(B)(C)		173		47
GS Mortgage Securities Trust, Ser 2021-1, Cl A1
1.433%, 08/17/2026		253		239
GS Mortgage Securities Trust, Ser 2021-1, Cl AS
2.638%, 08/17/2026		23		21
GS Mortgage Securities Trust, Ser 2021-1, Cl A2
2.435%, 08/17/2026		657		625
HFX, Ser 2017-1A, Cl A3
3.647%, 03/15/2035		800		759
HomeBanc Mortgage Trust, Ser 2005-1, Cl A1
5.638%, ICE LIBOR USD 1 Month + 0.500%, 03/25/2035(B)		23		19
JPMBB Commercial Mortgage Securities Trust, Ser 2014-C22, Cl XA, IO
0.796%, 09/15/2047(B)		14,159		85
JPMorgan Chase, Ser 2019-CL1, Cl M3
7.238%, ICE LIBOR USD 1 Month + 2.100%, 04/25/2047(B)(C)		96		92
LB-UBS Commercial Mortgage Trust, Ser 2006-C6, Cl AJ
5.452%, 09/15/2039(B)		84		31
LSTAR Commercial Mortgage Trust, Ser 2016-4, Cl A2
2.579%, 03/10/2049(C)		133		133
Natixis Commercial Mortgage Securities Trust, Ser 2019-MILE, Cl A
6.639%, TSFR1M + 1.579%, 07/15/2036(B)(C)		346		325


Description	Face Amount (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES (continued)
PMT Credit Risk Transfer Trust, Ser 2019-2R, Cl A
8.910%, ICE LIBOR USD 1 Month + 2.750%, 05/27/2023(B)(C)	$	239	$	235
PMT Credit Risk Transfer Trust, Ser 2019-3R, Cl A
8.860%, ICE LIBOR USD 1 Month + 3.700%, 11/27/2031(B)(C)		34		33
PMT Credit Risk Transfer Trust, Ser 2020-1R, Cl A
8.510%, ICE LIBOR USD 1 Month + 3.350%, 02/27/2023(B)(C)		111		107
Wells Fargo Commercial Mortgage Trust, Ser 2016-NXS6, Cl C
4.387%, 11/15/2049(B)		620		535
Wells Fargo Credit Risk Transfer Securities Trust, Ser 2015-WF1, Cl 2M2
10.638%, ICE LIBOR USD 1 Month + 5.500%, 11/25/2025(B)(C)		25		19
Wells Fargo Credit Risk Transfer Securities Trust, Ser 2015-WF1, Cl 1M2
10.388%, ICE LIBOR USD 1 Month + 5.250%, 11/25/2025(B)(C)		103		76


				23,757
Total Mortgage-Backed Securities
(Cost $28,546) ($ Thousands)				26,577



U.S. GOVERNMENT AGENCY OBLIGATIONS — 2.0%
FFCB ^(B)
5.240%, U.S. SOFR + 0.170%, 01/23/2025		1,900		1,901
5.205%, U.S. SOFR + 0.135%, 11/06/2023		2,000		2,000
5.150%, U.S. SOFR + 0.080%, 05/24/2024		500		500
5.110%, U.S. SOFR + 0.040%, 05/15/2024		200		200
FHLB ^
5.110%, U.S. SOFR + 0.040%, 06/16/2023(B)		1,900		1,900
5.100%, U.S. SOFR + 0.030%, 11/09/2023(B)		1,000		1,000
FHLB DN ^
0.000%, 02/02/2024(F)		700		677
FHLMC ^
5.150%, 01/27/2026		1,100		1,088
4.200%, 08/28/2025		700		686
0.375%, 07/21/2025		700		642


Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
FNMA ^
5.060%, 02/07/2025	$	600	$	594
3.875%, 08/28/2024		700		687
0.625%, 04/22/2025		1,300		1,209
0.500%, 06/17/2025		1,500		1,385
0.250%, 07/10/2023		1,800		1,790
0.250%, 11/27/2023		100		97



Total U.S. Government Agency Obligations
(Cost $16,672) ($ Thousands)				16,356



SOVEREIGN DEBT — 0.2%

Colombia Government International Bond
3.125%, 04/15/2031		213		158
Dominican Republic International Bond
4.875%, 09/23/2032(C)		871		730
Magyar Export-Import Bank Zrt
6.125%, 12/04/2027(C)		831		825

Total Sovereign Debt
(Cost $1,911) ($ Thousands)				1,713



MUNICIPAL BONDS — 0.1%
New York — 0.1%
New York & New Jersey, Port Authority, Ser AAA, RB
1.086%, 07/01/2023		490		488
New York City, Ser D, GO
1.923%, 08/01/2031		530		431

				919

West Virginia — 0.0%
Tobacco Settlement Finance Authority, RB
3.000%, 06/01/2035		196		194



Total Municipal Bonds
(Cost $1,217) ($ Thousands)				1,113


		Number of Rights
RIGHTS — 0.0%
Abiomed Inc *^‡^‡		366		–
Total Rights
(Cost $—) ($ Thousands)				–


Total Investments in Securities — 116.7%
(Cost $868,231) ($ Thousands)			$	935,981


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT— (13.9)%
Communication Services — (0.6)%
Cable One Inc		(79	)	$	(48	)
Charter Communications Inc, Cl A *		(1,469	)		(479	)
Comcast Corp, Cl A		(58,921	)		(2,319	)
DISH Network Corp, Cl A *		(3,428	)		(22	)
Fox Corp		(5,924	)		(181	)
Interpublic Group of Cos Inc/The		(5,201	)		(193	)
John Wiley & Sons Inc, Cl A		(600	)		(22	)
Liberty Broadband Corp, Cl C *		(1,513	)		(112	)
Liberty Media Corp-Liberty SiriusXM, Cl A *		(900	)		(25	)
Liberty Media Corp-Liberty SiriusXM, Cl C *		(2,108	)		(59	)
New York Times Co/The, Cl A		(2,154	)		(76	)
News Corp		(2,000	)		(37	)
News Corp, Cl A		(5,208	)		(95	)
Nexstar Media Group Inc, Cl A		(560	)		(85	)
Omnicom Group Inc		(2,892	)		(255	)
Paramount Global, Cl B		(7,452	)		(113	)
Scholastic Corp		(600	)		(26	)
TEGNA Inc		(3,000	)		(47	)
Trade Desk Inc/The, Cl A *		(5,988	)		(420	)


					(4,614	)

Consumer Discretionary — (9.1)%
Academy Sports & Outdoors Inc		(1,132	)		(55	)
Acushnet Holdings Corp		(1,695	)		(76	)
Adient PLC *		(5,898	)		(199	)
ADT Inc		(3,012	)		(17	)
Adtalem Global Education Inc *		(700	)		(29	)
Advance Auto Parts Inc		(696	)		(51	)
Airbnb Inc, Cl A *		(6,707	)		(736	)
Amazon.com Inc *		(58,793	)		(7,089	)
American Axle & Manufacturing Holdings Inc *		(6,101	)		(41	)
American Eagle Outfitters Inc		(1,300	)		(13	)
Aptiv PLC *		(16,512	)		(1,454	)
Aramark		(4,957	)		(196	)
Arko Corp		(3,000	)		(22	)
Asbury Automotive Group Inc *		(170	)		(36	)
AutoNation Inc *		(430	)		(56	)
AutoZone Inc *		(241	)		(575	)
Bath & Body Works Inc		(2,503	)		(88	)
Best Buy Co Inc		(2,428	)		(176	)
Bloomin' Brands Inc		(1,726	)		(41	)
Booking Holdings Inc *		(724	)		(1,816	)
Boot Barn Holdings Inc *		(517	)		(35	)
BorgWarner Inc		(13,925	)		(617	)
Boyd Gaming Corp		(1,445	)		(92	)
Bright Horizons Family Solutions Inc *		(1,084	)		(93	)
Brinker International Inc *		(700	)		(26	)
Brunswick Corp/DE		(3,094	)		(234	)
Burlington Stores Inc *		(750	)		(113	)
Caesars Entertainment Inc *		(3,927	)		(161	)


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT (continued)
Capri Holdings Ltd *		(4,686	)	$	(165	)
CarMax Inc *		(1,868	)		(135	)
Carnival Corp, Cl A *		(17,957	)		(202	)
Carter's Inc		(1,510	)		(94	)
Cavco Industries Inc *		(401	)		(100	)
Century Communities Inc		(1,012	)		(64	)
Cheesecake Factory Inc/The		(935	)		(29	)
Chegg Inc *		(2,412	)		(22	)
Chipotle Mexican Grill Inc, Cl A *		(502	)		(1,042	)
Choice Hotels International Inc		(600	)		(68	)
Churchill Downs Inc		(1,250	)		(170	)
Columbia Sportswear Co		(1,702	)		(126	)
Coursera Inc *		(1,500	)		(19	)
Cracker Barrel Old Country Store Inc		(460	)		(45	)
Crocs Inc *		(2,196	)		(247	)
Dana Inc		(6,981	)		(90	)
Darden Restaurants Inc		(2,544	)		(403	)
Dave & Buster's Entertainment Inc *		(961	)		(31	)
Deckers Outdoor Corp *		(1,044	)		(496	)
Dick's Sporting Goods Inc		(517	)		(66	)
Domino's Pizza Inc		(715	)		(207	)
DoorDash Inc, Cl A *		(4,359	)		(285	)
Dorman Products Inc *		(1,567	)		(129	)
DR Horton Inc		(11,669	)		(1,247	)
DraftKings Inc, Cl A *		(7,045	)		(164	)
Duolingo Inc, Cl A *		(400	)		(60	)
eBay Inc		(6,430	)		(274	)
Etsy Inc *		(1,532	)		(124	)
Everi Holdings Inc *		(1,676	)		(23	)
Expedia Group Inc *		(2,813	)		(269	)
Fisker Inc *		(3,859	)		(24	)
Five Below Inc *		(619	)		(107	)
Floor & Decor Holdings Inc, Cl A *		(1,304	)		(119	)
Foot Locker Inc		(1,085	)		(27	)
Ford Motor Co		(238,287	)		(2,859	)
Fox Factory Holding Corp *		(2,520	)		(224	)
Frontdoor Inc *		(1,199	)		(37	)
GameStop Corp, Cl A *		(1,477	)		(36	)
Gap Inc/The		(1,948	)		(16	)
Garmin Ltd		(6,228	)		(642	)
General Motors Co		(85,735	)		(2,779	)
Gentex Corp		(14,044	)		(369	)
Gentherm Inc *		(1,941	)		(107	)
Genuine Parts Co		(1,624	)		(242	)
Goodyear Tire & Rubber Co/The *		(17,369	)		(239	)
GoPro Inc, Cl A *		(5,015	)		(21	)
Graham Holdings Co, Cl B		(100	)		(56	)
Grand Canyon Education Inc *		(493	)		(52	)
Group 1 Automotive Inc		(257	)		(57	)
H&R Block Inc		(2,996	)		(89	)
Hanesbrands Inc		(11,522	)		(47	)
Harley-Davidson Inc		(8,078	)		(251	)


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT (continued)
Hasbro Inc		(5,551	)	$	(329	)
Helen of Troy Ltd *		(757	)		(73	)
Hilton Grand Vacations Inc *		(1,569	)		(67	)
Hilton Worldwide Holdings Inc		(5,145	)		(700	)
Home Depot Inc/The		(12,612	)		(3,575	)
Hyatt Hotels Corp, Cl A		(809	)		(87	)
Installed Building Products Inc		(1,011	)		(106	)
International Game Technology PLC		(1,529	)		(38	)
iRobot Corp *		(784	)		(28	)
Jack in the Box Inc		(505	)		(44	)
KB Home		(3,249	)		(141	)
Kohl's Corp		(1,169	)		(21	)
Kontoor Brands Inc		(2,199	)		(86	)
Las Vegas Sands Corp *		(6,298	)		(347	)
Laureate Education Inc, Cl A		(2,300	)		(28	)
La-Z-Boy Inc, Cl Z		(1,613	)		(43	)
LCI Industries		(1,495	)		(162	)
Lear Corp		(3,827	)		(469	)
Leggett & Platt Inc		(5,670	)		(173	)
Lennar Corp, Cl A		(9,465	)		(1,014	)
Lennar Corp, Cl B		(496	)		(47	)
Leslie's Inc *		(2,300	)		(22	)
LGI Homes Inc *		(645	)		(73	)
Light & Wonder Inc, Cl A *		(1,714	)		(100	)
Lithia Motors Inc, Cl A		(344	)		(80	)
LKQ Corp		(3,667	)		(193	)
Lowe's Cos Inc		(7,515	)		(1,512	)
Lucid Group Inc *		(28,070	)		(218	)
Lululemon Athletica Inc *		(4,124	)		(1,369	)
Luminar Technologies Inc, Cl A *		(16,444	)		(112	)
M/I Homes Inc *		(1,217	)		(86	)
Macy's Inc		(3,672	)		(50	)
Malibu Boats Inc, Cl A *		(733	)		(38	)
Marriott International Inc/MD, Cl A		(5,134	)		(861	)
Marriott Vacations Worldwide Corp		(725	)		(89	)
Mattel Inc *		(13,936	)		(243	)
McDonald's Corp		(14,043	)		(4,004	)
MDC Holdings Inc		(2,089	)		(84	)
Meritage Homes Corp		(1,371	)		(158	)
MGM Resorts International		(5,632	)		(221	)
Modine Manufacturing Co *		(3,459	)		(94	)
Mohawk Industries Inc *		(2,171	)		(200	)
Movado Group Inc		(750	)		(19	)
Murphy USA Inc		(251	)		(69	)
National Vision Holdings Inc *		(1,200	)		(30	)
Newell Brands Inc		(13,890	)		(115	)
NIKE Inc, Cl B		(43,814	)		(4,612	)
Nordstrom Inc		(1,160	)		(18	)
Norwegian Cruise Line Holdings Ltd *		(7,490	)		(111	)
NVR Inc *		(114	)		(633	)
Ollie's Bargain Outlet Holdings Inc *		(900	)		(50	)
O'Reilly Automotive Inc *		(818	)		(739	)


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT (continued)
Oxford Industries Inc		(631	)	$	(63	)
Papa John's International Inc		(490	)		(34	)
Patrick Industries Inc		(1,692	)		(111	)
Peloton Interactive Inc, Cl A *		(11,516	)		(84	)
Penn Entertainment Inc *		(2,819	)		(71	)
Penske Automotive Group Inc		(400	)		(55	)
Planet Fitness Inc, Cl A *		(1,423	)		(91	)
Polaris Inc		(2,116	)		(228	)
Pool Corp		(456	)		(144	)
PulteGroup Inc		(8,381	)		(554	)
PVH Corp		(2,405	)		(207	)
QuantumScape Corp, Cl A *		(12,877	)		(84	)
Ralph Lauren Corp, Cl A		(1,687	)		(179	)
Red Rock Resorts Inc, Cl A		(946	)		(43	)
RH *		(251	)		(62	)
Rivian Automotive Inc, Cl A *		(30,682	)		(452	)
Ross Stores Inc		(4,107	)		(426	)
Royal Caribbean Cruises Ltd *		(3,656	)		(296	)
Sabre Corp *		(6,200	)		(19	)
SeaWorld Entertainment Inc *		(697	)		(39	)
Service Corp International/US		(2,969	)		(189	)
Shake Shack Inc, Cl A *		(1,000	)		(66	)
Signet Jewelers Ltd		(502	)		(32	)
Six Flags Entertainment Corp *		(745	)		(19	)
Skechers USA Inc, Cl A *		(4,685	)		(241	)
Skyline Champion Corp *		(1,899	)		(110	)
Solid Power Inc *		(9,662	)		(21	)
Sonos Inc *		(4,485	)		(65	)
Standard Motor Products Inc		(1,055	)		(37	)
Starbucks Corp		(21,260	)		(2,076	)
Steven Madden Ltd		(3,124	)		(98	)
Stoneridge Inc *		(2,259	)		(37	)
Strategic Education Inc		(500	)		(39	)
Stride Inc *		(700	)		(28	)
Sturm Ruger & Co Inc		(700	)		(36	)
Sweetgreen Inc, Cl A *		(2,445	)		(23	)
Tapestry Inc		(9,251	)		(370	)
Taylor Morrison Home Corp, Cl A *		(3,913	)		(166	)
Tempur Sealy International Inc		(6,002	)		(214	)
Tesla Inc *		(37,812	)		(7,711	)
Texas Roadhouse Inc, Cl A		(1,577	)		(170	)
Thor Industries Inc		(3,310	)		(259	)
TJX Cos Inc/The		(14,675	)		(1,127	)
Toll Brothers Inc		(3,889	)		(263	)
TopBuild Corp *		(1,179	)		(238	)
Topgolf Callaway Brands Corp *		(4,859	)		(83	)
Tractor Supply Co		(1,535	)		(322	)
Travel + Leisure Co		(2,132	)		(78	)
Tri Pointe Homes Inc *		(4,366	)		(128	)
Ulta Beauty Inc *		(587	)		(241	)
Under Armour Inc, Cl A *		(6,798	)		(49	)
Under Armour Inc, Cl C *		(6,697	)		(44	)


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT (continued)
Urban Outfitters Inc *		(900	)	$	(28	)
Vail Resorts Inc		(878	)		(214	)
Valvoline Inc		(1,300	)		(50	)
VF Corp		(12,844	)		(221	)
Victoria's Secret & Co *		(700	)		(14	)
Vista Outdoor Inc *		(1,886	)		(50	)
Visteon Corp *		(1,790	)		(239	)
Vizio Holding Corp, Cl A *		(4,369	)		(29	)
Wayfair Inc, Cl A *		(1,300	)		(52	)
Wendy's Co/The		(3,301	)		(73	)
Whirlpool Corp		(2,072	)		(268	)
Williams-Sonoma Inc		(876	)		(99	)
Wingstop Inc		(535	)		(107	)
Winnebago Industries Inc		(1,841	)		(102	)
Wolverine World Wide Inc		(2,202	)		(29	)
Wyndham Hotels & Resorts Inc		(1,472	)		(100	)
Wynn Resorts Ltd		(1,830	)		(181	)
XPEL Inc *		(1,159	)		(80	)
YETI Holdings Inc *		(3,490	)		(128	)
Yum! Brands Inc		(5,452	)		(702	)


					(73,302	)

Information Technology — (2.8)%
Advanced Micro Devices Inc *		(7,627	)		(902	)
Amphenol Corp, Cl A		(2,559	)		(193	)
Analog Devices Inc		(2,362	)		(420	)
Apple Inc		(36,640	)		(6,494	)
Applied Materials Inc		(4,461	)		(595	)
Arista Networks Inc *		(1,307	)		(217	)
Arrow Electronics Inc *		(529	)		(67	)
Avnet Inc		(1,219	)		(53	)
Broadcom Inc		(1,864	)		(1,506	)
CDW Corp/DE		(732	)		(126	)
Ciena Corp *		(861	)		(40	)
Cirrus Logic Inc *		(400	)		(31	)
Cisco Systems Inc		(22,181	)		(1,102	)
Cognex Corp		(861	)		(47	)
Coherent Corp *		(688	)		(25	)
Corning Inc		(3,640	)		(112	)
Dell Technologies Inc, Cl C		(1,200	)		(54	)
Diodes Inc *		(301	)		(27	)
Enphase Energy Inc *		(647	)		(113	)
Entegris Inc		(665	)		(70	)
F5 Inc *		(300	)		(44	)
First Solar Inc *		(549	)		(111	)
GLOBALFOUNDRIES Inc *		(458	)		(27	)
Hewlett Packard Enterprise Co		(5,611	)		(81	)
HP Inc		(5,220	)		(152	)
Intel Corp		(20,100	)		(632	)
Jabil Inc		(684	)		(61	)
Juniper Networks Inc		(2,037	)		(62	)
Keysight Technologies Inc *		(1,029	)		(166	)


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT (continued)
KLA Corp		(708	)	$	(314	)
Lam Research Corp		(659	)		(406	)
Lattice Semiconductor Corp *		(475	)		(39	)
Littelfuse Inc		(200	)		(51	)
Lumentum Holdings Inc *		(423	)		(22	)
Marvell Technology Inc		(3,789	)		(222	)
Microchip Technology Inc		(2,705	)		(204	)
Micron Technology Inc		(5,447	)		(371	)
MKS Instruments Inc		(359	)		(35	)
Monolithic Power Systems Inc		(199	)		(97	)
Motorola Solutions Inc		(877	)		(247	)
National Instruments Corp		(600	)		(35	)
NetApp Inc		(813	)		(54	)
Novanta Inc *		(200	)		(33	)
NVIDIA Corp		(11,346	)		(4,293	)
ON Semiconductor Corp *		(2,081	)		(174	)
Onto Innovation Inc *		(287	)		(31	)
Pure Storage Inc, Cl A *		(1,024	)		(29	)
Qorvo Inc *		(378	)		(37	)
QUALCOMM Inc		(5,424	)		(615	)
Rambus Inc *		(688	)		(44	)
Silicon Laboratories Inc *		(200	)		(28	)
Skyworks Solutions Inc		(875	)		(91	)
Teledyne Technologies Inc *		(309	)		(120	)
Teradyne Inc		(715	)		(72	)
Texas Instruments Inc		(4,474	)		(778	)
Trimble Inc *		(1,674	)		(78	)
Universal Display Corp		(444	)		(65	)
Western Digital Corp *		(1,314	)		(51	)
Wolfspeed Inc *		(521	)		(25	)
Zebra Technologies Corp, Cl A *		(227	)		(60	)


					(22,251	)

Materials — (1.4)%
Air Products and Chemicals Inc		(2,348	)		(632	)
Albemarle Corp		(1,193	)		(231	)
Alcoa Corp		(1,572	)		(50	)
Alpha Metallurgical Resources Inc		(363	)		(49	)
Amcor PLC		(14,359	)		(138	)
AptarGroup Inc		(899	)		(101	)
Arconic Corp *		(1,512	)		(44	)
Ashland Inc		(500	)		(42	)
ATI Inc *		(1,323	)		(46	)
Avery Dennison Corp		(877	)		(141	)
Avient Corp		(1,116	)		(41	)
Axalta Coating Systems Ltd *		(2,069	)		(60	)
Balchem Corp		(300	)		(37	)
Ball Corp		(3,410	)		(174	)
Berry Global Group Inc		(1,817	)		(104	)
Cabot Corp		(600	)		(41	)
Carpenter Technology Corp		(500	)		(23	)
Celanese Corp, Cl A		(1,140	)		(119	)


Description	Shares			Market Value ($ Thousands)
COMMON STOCK SOLD SHORT (continued)
CF Industries Holdings Inc		(2,047	)	$	(126	)
Chemours Co/The		(1,921	)		(51	)
Cleveland-Cliffs Inc *		(5,312	)		(74	)
Commercial Metals Co		(1,192	)		(51	)
Constellium SE, Cl A *		(2,566	)		(38	)
Corteva Inc		(8,371	)		(448	)
Crown Holdings Inc		(1,007	)		(77	)
Dow Inc		(7,556	)		(369	)
DuPont de Nemours Inc		(5,530	)		(372	)
Eagle Materials Inc		(444	)		(72	)
Eastman Chemical Co		(1,252	)		(97	)
Ecolab Inc		(2,612	)		(431	)
Element Solutions Inc		(3,583	)		(64	)
FMC Corp		(1,220	)		(127	)
Freeport-McMoRan Inc, Cl B		(15,468	)		(531	)
Graphic Packaging Holding Co		(2,797	)		(67	)
HB Fuller Co		(775	)		(49	)
Hecla Mining Co		(8,936	)		(48	)
Huntsman Corp		(1,905	)		(45	)
Ingevity Corp *		(625	)		(29	)
International Flavors & Fragrances Inc		(2,620	)		(202	)
International Paper Co		(4,346	)		(128	)
Linde PLC		(5,370	)		(1,899	)
Livent Corp *		(1,834	)		(42	)
Louisiana-Pacific Corp		(624	)		(36	)
LyondellBasell Industries NV, Cl A		(2,990	)		(256	)
Martin Marietta Materials Inc		(743	)		(296	)
Materion Corp		(200	)		(20	)
Mosaic Co/The		(3,928	)		(126	)
MP Materials Corp *		(800	)		(17	)
Newmont Corp		(8,673	)		(352	)
Nucor Corp		(2,828	)		(373	)
O-I Glass Inc, Cl I *		(2,860	)		(59	)
Olin Corp		(963	)		(46	)
Packaging Corp of America		(969	)		(120	)
PPG Industries Inc		(2,654	)		(348	)
Quaker Chemical Corp		(257	)		(49	)
Reliance Steel & Aluminum Co		(651	)		(153	)
Royal Gold Inc		(750	)		(93	)
RPM International Inc		(1,324	)		(106	)
Scotts Miracle-Gro Co/The, Cl A		(400	)		(25	)
Sealed Air Corp		(1,346	)		(51	)
Sensient Technologies Corp		(600	)		(43	)
Sherwin-Williams Co/The		(2,522	)		(574	)
Silgan Holdings Inc		(1,100	)		(49	)
Sonoco Products Co		(1,000	)		(60	)
Southern Copper Corp		(1,049	)		(70	)
SSR Mining Inc		(1,700	)		(25	)
Steel Dynamics Inc		(1,818	)		(167	)
Stepan Co		(437	)		(40	)
Summit Materials Inc, Cl A *		(1,325	)		(42	)
Tronox Holdings PLC		(2,104	)		(22	)

A list of the open futures contracts held by the Fund at May 31, 2023, is as follows:

A list of the open forward foreign currency contracts held by the Fund at May 31, 2023, is as follows:

A list of the open centrally cleared swap agreements held by the Fund at May 31, 2023, is as follows:

A list of the open OTC swap agreements held by the Fund at May 31, 2023, is as follows:

As of May 31, 2023, the Reverse Repurchase Agreements held by the Fund are listed below:

Principal Amount ($ Thousands)			Counterparty	Rate			Maturity	Value ($ Thousands)
	$(114,000	)	HSBC		5.23%	Open Ended		$	(114,000	)
	(18,677	)	HSBC		5.23%	Open Ended			(18,677	)
	(19,621	)	HSBC		5.23%	Open Ended			(19,621	)
								$	(152,298	)

	Percentages are based on Net Assets of $801,743 ($ Thousands).
^	Security, or a portion thereof, is held by the MARR Commodity Strategy Subsidiary, Ltd. as of May 31, 2023.
*	Non-income producing security.
^‡	Real Estate Investment Trust.
^‡^‡	Expiration date not available.
(A)	Interest rate represents the security's effective yield at the time of purchase.
(B)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(C)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2023, the value of these securities amounted to $77,461 ($ Thousands), representing 9.7% of the Net Assets of the Fund.
(D)	Security is in default on interest payment.
(E)	Perpetual security with no stated maturity date.
(F)	Zero coupon security.
(G)	Security, or a portion thereof, has been pledged as collateral on reverse repurchase agreements. The total market value of such securities as of May 31, 2023 was $123,233 ($ Thousands).
(H)	Security, or portion thereof, has been pledged as collateral on securities sold short. The total market value of such securities as of May 31, 2023 was $49,509 ($ Thousands).
(I)	Security, or portion thereof, has been pledged as collateral on OTC swap contracts. The total market value of such securities as of May 31, 2023 was $196 ($ Thousands).
(J)	Security, or portion thereof, has been pledged as collateral on Futures contracts. The total market value of such securities as of May 31, 2023 was $7,029 ($ Thousands).
(K)	Security, or portion thereof, has been pledged as collateral on centrally cleared swap contracts. The total market value of such securities as of May 31, 2023 was $1,310 ($ Thousands).

The following is a summary of the level of inputs used as of May 31, 2023, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):

Investments in Securities

Level 1
($)

Level 2
($)

Level 3
($)

Total
($)

U.S. Treasury Obligations

–

562,710

–

562,710

Common Stock

237,037

–

237,037

Corporate Obligations

–

58,094

–

58,094

Asset-Backed Securities

–

32,381

–

32,381

Mortgage-Backed Securities

–

26,577

–

26,577

U.S. Government Agency Obligations

–

16,356

–

16,356

Sovereign Debt

–

1,713

–

1,713

Municipal Bonds

–

1,113

–

1,113

Rights

–

⁽¹⁾

–

⁽¹⁾

Total Investments in Securities

237,037

698,944

–

935,981

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		1,944			–			–		1,944
Unrealized Depreciation		(13,072	)		–			–		(13,072	)
Forward Contracts*
Unrealized Appreciation		–			70			–		70
Centrally Cleared Swaps
Credit Default Swaps*
Unrealized Depreciation		–			(396	)		–		(396	)
Interest Rate Swaps*
Unrealized Depreciation		–			(1,209	)		–		(1,209	)
OTC Swaps
Credit Default Swaps*
Unrealized Depreciation		–			(185	)		–		(185	)
Reverse Repurchase Agreements		–			(152,298	)		–		(152,298	)
Total Other Financial Instruments		(11,128	)		(154,018	)		–		(165,146	)

(1) This category includes a security with a value of zero.

*	Futures contracts, forward contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

Amounts designated as “—” are $0 or have been rounded to $0.

See “Glossary” for abbreviations.

The accompanying notes are an integral part of the financial statements.

Glossary (abbreviations which may be used in the preceding Schedules of Investments):

Currency Abbreviations

AUD — Australian Dollar

BRL — Brazilian Real

CAD — Canadian Dollar

CLP — Chilean Peso

CHF — Swiss Franc

CNY — Chinese Yuan Onshore

COP — Colombian Peso

CZK — Czech Koruna

DKK — Danish Krone

DOP — Dominican Peso

EGP — Egyptian Pound

EUR — Euro

GBP — British Pound

GHS — Ghanaian Cedi

HKD — Hong Kong Dollar

HUF — Hungarian Forint

IDR — Indonesian Rupiah

ILS — Israeli New Sheckels

INR — Indian Rupee

JPY — Japanese Yen

KRW — Korean Won

KZT — Kazakhstani Tenge

MXN — Mexican Peso

MYR — Malaysian Ringgit

NGN — Nigerian Naira

NOK — Norwegian Krone

NZD — New Zealand Dollar

PEN — Peruvian Nuevo Sol

PHP— Philippine Peso

PLN — Polish Zloty

RON — Romanian Leu

RSD — Serbian Dinar

RUB — Russian Ruble

SEK — Swedish Krona

SGD — Singapore Dollar

THB — Thai Baht

TRY — Turkish Lira

TWD — Taiwan Dollar

UAH — Ukrainian Hryvnia

UGX — Ugandan Shilling

USD — U.S. Dollar

UYU — Uruguayan Peso

ZAR — South African Rand

ZMW — Zambian Zwacha

Portfolio Abbreviations

ADR — American Depositary Receipt

ARM — Adjustable Rate Mortgage

BPS — Basis Points

BUBOR — Budapest Interbank Offered Rate

CETIP — Central of Custody and Financial Settlement of Securities

Cl — Class

CLICP — Chile Indice de Camara Promedio Interbank Overnight Index

CLO — Collateralized Loan Obligation

CMO — Collateralized Mortgage Obligation

DAC — Designated Activity Company

ETF — Exchange-Traded Fund

EURIBOR — Euro London Interbank Offered Rate

FBIL — Financial Benchmarks India Pvt. Ltd.

FFCB — Federal Farm Credit Bank

FHLB — Federal Home Loan Bank

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GDR — Global Depositary Receipt

GNMA — Government National Mortgage Association

IBR — Reference Bank Indicator

IO — Interest Only — face amount represents notional amount

JIBAR — Johannesburg Interbank Average Rate

JSC — Joint-Stock Company

LIBOR— London Interbank Offered Rate

LLLP — Limited Liability Limited Partnership

LP — Limited Partnership

MEXIBOR — Mexican Interbank Offered Rate

MIBOR — Mumbai Interbank Overnight Rate

MTN — Medium Term Note

MXN - TIIE — Mexican Interbank TIIE 28-Day

NVDR — Non-Voting Depository Receipt

OIS — Overnight Index Swap

OTC — Over The Counter

PIK — Payment-in-Kind

PJSC — Public Joint-Stock Company

PO — Principal Only

PRIBOR — Prague Interbank Offered Rate

QPSC — Qatari Joint-Stock Company

RB — Revenue Bond

REIT — Real Estate Investment Trust

Ser — Series

SOFR — Secured Overnight Financing Rate

SOFR30A — Secured Overnight Financing Rate 30-day Average

SOFRINDX — Custom SOFR Index

TBA — To Be Announced

TELBOR — Tel Aviv Interbank Offered Rate

THOR — Thai Overnight Repurchase Rate

TSFR1M — Term Secured Overnight Financing Rate 1 Month

TSFR3M — Term Secured Overnight Financing Rate 3 Month

UMBS — Uniform Mortgage-Backed Securities

WIBOR— Warsaw Interbank Offered Rate

STATEMENTS OF ASSETS AND LIABILITIES / CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES ($ Thousands)

STATEMENTS OF OPERATIONS / CONSOLIDATED STATEMENTS OF OPERATIONS ($ Thousands)

STATEMENTS OF CHANGES IN NET ASSETS / CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)

1. ORGANIZATION

SEI Institutional Investments Trust (the “Trust”) was organized as a Massachusetts business trust under a Declaration of Trust dated March 1, 1995. The Trust commenced operations on June 14, 1996.

The Trust is registered under the Investment Company Act of 1940, as amended, as an open-end investment company with 27 registered funds: Large Cap, Large Cap Disciplined Equity, Large Cap Index, S&P 500 Index, Extended Market Index, Small Cap, Small Cap II, Small/Mid Cap Equity, U.S. Equity Factor Allocation, U.S. Managed Volatility, Global Managed Volatility, World Equity Ex-US, Screened World Equity Ex-US, World Select Equity, Emerging Markets Equity, Opportunistic Income, Core Fixed Income, High Yield Bond, Long Duration, Long Duration Credit, Ultra Short Duration Bond, Emerging Markets Debt, Real Return, Limited Duration Bond, Intermediate Duration Credit, Dynamic Asset Allocation and Multi-Asset Real Return (each a “Fund,” collectively, the “Funds”) each of which are diversified Funds with the exception of the Emerging Markets Debt and Multi-Asset Real Return Funds. The Trust is registered to offer Class A shares of all Funds. The assets of each Fund are segregated, and a shareholder’s interest is limited to the Fund in which shares are held. The Trust’s prospectus provides a description of each Fund’s investment goals, principal strategies and risks.

The DAA Commodity Strategy Subsidiary, Ltd. and the MARR Commodity Strategy Subsidiary, Ltd. (the “Subsidiaries”) are wholly-owned subsidiaries of the Dynamic Asset Allocation and Multi-Asset Real Return Funds, respectively. The Subsidiaries are organized under the laws of the Cayman Islands as an exempt limited company. Information regarding the Dynamic Asset Allocation and Multi-Asset Real Return Funds and their respective subsidiary has been consolidated on the Consolidated Schedule of Investments, Consolidated Statements of Assets and Liabilities, Consolidated Statements of Operations, Consolidated Statements of Changes in Net Assets, Consolidated Statement of Cash Flows of Multi-Asset Real Return Fund and Consolidated Financial Highlights.

2. SIGNIFICANT ACCOUNTING POLICIES

The following are significant accounting policies, which are consistently followed in the preparation of its financial statements by the Funds. The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board (“FASB”).

Use of Estimates — The preparation of financial statements, in conformity with U.S. GAAP requires

management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of 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.

Security Valuation — Effective September 8, 2022, and pursuant to the requirements of the 1940 Act and Rule 2a-5, the administrator, as delegated by the Board of Trustees (the “Board”), has the responsibility for the valuation of Fund investments with readily available market quotations in accordance with the Funds’ Valuation and Pricing Policy. The Trust's Board of Trustees has designated SEI Investments Management Corporation (“SIMC”) as the Valuation Designee for the Funds pursuant to Rule 2a-5 (the “Rule”) under the 1940 Act. The Valuation Designee has the responsibility for the fair value determination with respect to all Fund investments that do not have readily available market quotations or quotations that are no longer reliable. SIMC, in furtherance of the Board’s designation, has appointed a committee of SIMC persons to function as the Valuation Designee (the “Committee”) and has established a Valuation and Pricing Policy to implement the Rule and the Funds’ Valuation and Pricing Policy (together the “Policy”). Prior to September 8, 2022, fair-value determinations were performed in accordance with the Trust’s Fair Value Procedures established by the Funds’ Board of Trustees and were implemented through a Fair Value Committee designated by the Board. When valuing portfolio securities, a Fund values securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (other than securities traded on National Association of Securities Dealers Automated Quotations (“NASDAQ”) or as otherwise noted below) are valued at the last quoted sale price on an exchange or market (foreign or domestic) on which the securities are traded, or, if there is no such reported sale, at the most recent quoted bid price. The Funds value securities traded on NASDAQ at the NASDAQ Official Closing Price. If available, debt securities, swaps (which are not centrally cleared), bank loans or debt tranches of collateralized debt obligations (including collateralized loan obligations), such as those held by the Funds, are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations or other methodologies designed to identify the market value for such securities.

Redeemable securities issued by open-end investment companies are valued at the investment company’s applicable net asset value, with the exception of ETFs, which are priced as equity securities. These open-end investment companies’ shares are offered in separate prospectuses, each of which describes the process by which the applicable investment company’s net asset value is determined. The prices of foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. If a security’s price cannot be obtained, as noted above, or in the case of an equity tranche of a CDO/CLO, the Funds will value the securities using a bid price from at least one independent broker.

On the first day a new debt security purchase is recorded, if a price is not available from a third-party pricing agent or an independent broker, the security may be valued at its purchase price. Each day thereafter, the debt security will be valued according to the Policy until a price from an independent source can be secured. Securities held by a Fund with remaining maturities of 60 days or less may be valued by the amortized cost method, which involves valuing a security at its cost on the date of purchase and thereafter (absent unusual circumstances) assuming a constant amortization to maturity of any discount or premium, regardless of the impact of fluctuations in general market rates of interest on the value of the instrument. While this method provides certainty in valuation, it may result in periods during which value, as determined by this method, is higher or lower than the price a Fund would receive if it sold the instrument. Further, the value of securities in the Fund can be expected to vary inversely with changes in prevailing interest rates. Should existing credit, liquidity or interest rate conditions in the relevant markets and issuer-specific circumstances suggest that amortized cost does not approximate fair value, then the amortized cost method may not be used.

Options and warrants are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long positions are valued at the most recent bid price, and short positions are valued at the most recent ask price.

Futures and swaps cleared through a central clearing house (“centrally cleared swaps”) are valued at the settlement price established each day by the board of exchange on which they are traded. The daily settlement prices for financial futures and centrally cleared swaps are provided by an independent source. On days when there is excessive volume, market volatility or the future or centrally cleared swap does not end trading by the time a Fund calculates its Net Asset Value (“NAV”), the settlement price may not be available at the time at

which the Fund calculates its NAV. On such days, the best available price (which is typically the last sales price) may be used to value a Fund’s futures or centrally cleared swaps position.

Foreign currency forward contracts are valued at the current day’s interpolated foreign exchange rate, as calculated using the current day’s spot rate, and the thirty, sixty, ninety and one-hundred eighty day forward rates provided by an independent source.

Prices for most securities held by a Fund are provided daily by third-party independent pricing agents. SIMC or a Sub-Adviser (“Sub-Adviser”), as applicable, reasonably believes that prices provided by independent pricing agents are reliable. However, there can be no assurance that such pricing service’s prices will be reliable. SIMC will continuously monitor the reliability of prices obtained from any pricing service and shall promptly notify the Funds’ administrator if it believes that a particular pricing service is no longer a reliable source of prices. The Funds’ administrator, in turn, will notify the Committee if it receives such notification from a Sub-Adviser, as applicable, or if the Funds’ administrator reasonably believes that a particular pricing service is no longer a reliable source for prices.

The Policy provides that any change in a primary pricing agent or a pricing methodology requires prior approval by the Board of Trustees (“Board”). However, when the change would not materially affect valuation of a Fund’s net assets or involve a material departure in pricing methodology from that of the Fund’s existing pricing agent or pricing methodology, ratification may be obtained at the next regularly scheduled meeting of the Board.

Securities for which market prices are not readily available, for which market prices are determined to be unreliable, or which cannot be valued using the methodologies described above are valued in accordance with Rule 2a-5 and the Policy.

The Valuation Designee must monitor for circumstances that may necessitate that a security be valued using Fair Value Procedures which can include: (i) the security's trading has been halted or suspended, (ii) the security has been de-listed from a national exchange, (iii) the security's primary trading market is temporarily closed at a time when under normal conditions it would be open, (iv) the security has not been traded for an extended period of time, (v) the security's primary pricing source is not able or willing to provide a price, (vi) trading of the security is subject to local government-imposed restrictions; or (vii) a significant event (as defined below). When a security is valued in accordance with the Policy, the Committee will determine the value after taking into

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

consideration relevant information reasonably available to the Committee. Examples of factors the Committee may consider include: (i) the type of security or asset, (ii) the last trade price, (iii) evaluation of the forces that influence the market in which the security is purchased and sold, (iv) the liquidity of the security, (v) the size of the holding in a Fund or (vi) any other appropriate information.

The Committee is responsible for selecting and applying, in a consistent manner, the appropriate methodologies for determining and calculating the fair value of holdings of the Funds, including specifying the key inputs and assumptions specific to each asset class or holding.

The determination of a security’s fair value price often involves the consideration of a number of subjective factors, and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available.

For securities that principally trade on a foreign market or exchange, a significant gap in time can exist between the time of a particular security’s last trade and the time at which a Fund calculates its NAV. The closing prices of such securities may no longer reflect their market value at the time a Fund calculates NAV if an event that could materially affect the value of those securities (a “Significant Event”), including substantial fluctuations in domestic or foreign markets or occurrences not tied directly to the securities markets, such as natural disasters, armed conflicts or significant governmental actions, has occurred between the time of the security’s last close and the time that a Fund calculates NAV. A Fund may invest in securities that are primarily listed on foreign exchanges that trade on weekends or other days when a Fund does not price its shares. As a result, the NAV of a Fund’s shares may change on days when shareholders will not be able to purchase or redeem Fund shares.

A Significant Event may relate to a single issuer or to an entire market sector. If SIMC or a Sub-Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Funds calculate NAV, it may request that a Committee meeting be called. In addition, the Funds use several processes, with respect to certain securities to monitor the pricing data supplied by various sources, including price comparisons and price movements. Any identified discrepancies are researched and subject to the procedures described above.

All of the Funds, except the Real Return Fund, hold international securities that also use a third-party fair valuation vendor. The vendor provides a fair value for foreign securities held by the Funds based on certain factors and methodologies (involving, generally, tracking valuation correlations between the U.S. market and each non-U.S. security). Values from the fair value vendor are applied in the event that there is a movement in the U.S. market that exceeds a specific threshold that has been established by the Committee. The Committee has also established a “confidence interval” which is used to determine the level of historical correlation between the value of a specific foreign security and movements in the U.S. market before a particular security will be fair valued when the threshold is exceeded. In the event that the threshold established by the Committee is exceeded on a specific day, these Funds will value the non-U.S. securities in their portfolios that exceed the applicable “confidence interval” based upon the adjusted prices provided by the fair valuation vendor.

In accordance with U.S. GAAP, fair value is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three tier hierarchy has been established to maximize the use of observable and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing an asset. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad Levels listed below:

Level 1 — quoted prices in active markets for identical investments;

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risks, etc.) or quoted prices for identical instruments in inactive markets; and

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

Investments are classified within the level of the lowest significant input considered in determining fair value.

Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

Debt securities are valued in accordance with the evaluated bid price supplied by the pricing service and generally categorized as Level 2 in the hierarchy. Other securities that are categorized as Level 2 in the hierarchy include, but are not limited to, preferred stocks, bank loans, warrants, swaps and forward contracts. The Fund may use a systematic fair valuation model provided by an independent pricing service to value foreign equity securities in order to adjust for stale pricing, which may occur between the close of certain foreign exchanges and the New York Stock Exchange. These are generally categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities and swaps may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. For certain collateralized debt obligations, corporate obligations, mortgage backed securities, auction rate preferred securities and loan participations where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

The valuation techniques used by the Funds to measure fair value during the year ended May 31, 2023 maximized the use of observable inputs and minimized the use of unobservable inputs. For details of the investment classification, reference the Schedules of Investments.

Security Transactions and Investment Income — Security transactions are recorded on the trade date. Costs used in determining net realized capital gains and losses on the sale of securities are on the basis of specific identification. Dividend income and expense is recognized on the ex-dividend date, and interest income and expense is recognized using the accrual basis of accounting. Income from payment-in-kind securities is recorded daily based on the effective interest method of accrual.

Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Trust estimates the components of distributions received that may be considered nontaxable distributions or capital gain distributions.

Amortization and accretion is calculated using the scientific interest method, which approximates the effective interest method over the holding period of the security. Amortization of premiums and discounts is included in interest income. Consent fees and amendment income received from Bank Loans is recorded as interest income in the accompanying Statements of Operations.

For Treasury Inflation-Protected Securities, the principal amount is adjusted daily to keep pace with inflation. Interest is accrued based on the adjusted principal amount. The adjustments to principal due to inflation are reflected as increases or decreases to interest in the accompanying Statements of Operations. Such adjustments may have a significant impact on a Fund’s distributions.

Cash and Cash Equivalents — Idle cash and currency balances may be swept into various overnight sweep accounts and are classified as cash and cash equivalents on the Statement of Assets and Liabilities/Consolidated Statement of Assets and Liabilities and Consolidated Statement of Cash Flows. These amounts, at times, may exceed United States federally insured limits. Amounts swept are available on the next business day.

Cash Equivalents, as shown on the Schedule of Investments/Consolidated Schedule of Investments, are classified as Investments on the Statements of Assets and Liabilities/Consolidated Statements of Assets and Liabilities..

Repurchase Agreements — Securities pledged as collateral for repurchase agreements are held by each Fund’s custodian bank until the repurchase date of the repurchase agreement. The Funds may also invest in tri-party repurchase agreements. Securities held as collateral for tri-party repurchase agreements are maintained by the broker’s custodian bank in a segregated account until the repurchase date of the repurchase agreement. Provisions of the repurchase agreements and the Trust’s policies require that the market value of the collateral, including accrued interest thereon, is sufficient in the event of default by the counterparty. If the counterparty defaults and the value of the collateral declines, or if the counterparty enters into an insolvency proceeding, realization of the collateral by the Funds may be delayed or limited. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding open repurchase agreements as of May 31, 2023, if applicable.

Reverse Repurchase Agreements — To the extent consistent with its Investment Objective and Strategies, a Fund may enter into reverse repurchase agreements. A reverse repurchase agreement involves the sale

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

of portfolio assets together with an agreement to repurchase the same assets later at a fixed price. Assets are then segregated to cover the requirements to repurchase the assets. The segregated assets may consist of cash, U.S. Government securities, or other liquid securities at least equal in value to the obligations under the reverse repurchase agreements. In the event the buyer of securities under a reverse repurchase agreement files for bankruptcy or becomes insolvent, a Fund’s use of the proceeds under the reverse repurchase agreement may be restricted pending a determination by the other party, or its trustee or receiver, whether to enforce the obligation to repurchase the securities. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding open reverse repurchase agreements as of May 31, 2023, if applicable.

Expenses — Expenses that are directly related to a Fund are charged directly to that Fund. Other operating expenses of the Funds are prorated to the Funds on the basis of relative net assets.

Commodity-Linked Investments — To the extent consistent with its Investment Objective and Strategies, the Dynamic Asset Allocation and Multi-Asset Real Return Funds may invest in commodity investments to provide exposure to the investment returns of the commodities markets. Commodity investments include notes with interest payments that are tied to an underlying commodity or commodity index, ETFs or other exchange-traded products that are tied to the performance of a commodity or commodity index or other types of commodities or commodity indices. The Dynamic Asset Allocation and Multi-Asset Real Return Funds may also invest in equity securities of issuers in commodity-related industries.

The Dynamic Asset Allocation and Multi-Asset Real Return Funds may also seek to gain exposure to the commodity markets, in whole or in part, through investments in a wholly owned Subsidiary. The Subsidiary, unlike the Fund, may invest to a significant extent directly in commodities and in equity-linked securities and commodity-linked derivative instruments, including options, futures contracts, swaps, options on futures contracts and commodity-linked structured notes. The Subsidiary may also invest in other instruments in which the Fund is permitted to invest, either as investments or to serve as margin or collateral for its derivative positions. A Fund may invest up to 25% of its total assets in its Subsidiary.

In order for a Fund to qualify as a regulated investment company under Subchapter M of the Code, the Fund must derive at least 90% of its gross income each taxable year from qualifying income. The status of

certain commodity-linked derivative instruments as qualifying income has been addressed in Revenue Ruling 2006-1 and Revenue Ruling 2006-31 which provide that income from certain commodity-linked derivative instruments in which the Fund invests will not be considered qualifying income. To the extent the Dynamic Asset Allocation and Multi-Asset Real Return Funds invest in such instruments directly, each Fund will seek to restrict its income from commodity-linked derivative instruments that do not generate qualifying income, such as commodity-linked swaps, to a maximum of 10% of its gross income (when combined with its other investments that produce non-qualifying income).

Foreign Currency Translation — The books and records of the Funds investing in international securities are maintained in U.S. dollars on the following basis:

(I) market value of investment securities, assets and liabilities at the current rate of exchange; and

(II) purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of gains and losses on investments that is due to changes in the foreign exchange rates from that which is due to changes in market prices of investments.

The Funds report certain foreign-currency-related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for Federal income tax purposes.

Forward Foreign Currency Contracts — To the extent consistent with its Investment Objective and Strategies, a Fund may enter into forward foreign currency contracts as hedges against either specific transactions, fund positions or anticipated fund positions. A Fund may also engage in currency transactions to enhance that Fund’s returns. All commitments are marked-to-market daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded currently. A Fund realizes gains and losses at the time forward contracts are extinguished. Unrealized gains or losses on outstanding positions in forward foreign currency contracts held at the close of the period are recognized as ordinary income or loss for Federal income tax purposes.

A Fund could be exposed to risk if the counterparties to the contracts are unable to meet the terms of the contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities or

Consolidated Statements of Assets and Liabilities. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding open forward foreign currency contracts as of May 31, 2023, if applicable.

Futures Contracts — To the extent consistent with its Investment Objective and Strategies, a Fund may use futures contracts for tactical hedging purposes as well as to enhance the Fund’s returns. In addition, fixed income funds will utilize futures contracts to help manage duration and yield curve exposure. These Funds’ investments in futures contracts are designed to enable the Funds to more closely approximate the performance of their benchmark indices. Initial margin deposits of cash or securities are made upon entering into futures contracts. The contracts are marked-to-market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When contracts are closed, the Funds record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. Third, futures contracts involve the risk that a Fund could lose more than the original margin deposit required to initiate a futures transaction.

Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities or Consolidated Statements of Assets and Liabilities. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding open futures contracts as of May 31, 2023, if applicable.

Master Limited Partnerships — Investments in units of master limited partnerships (“MLPs”) involve risks that differ from an investment in common stock. Holders of the units of master limited partnerships have more limited control and limited rights to vote on matters affecting the partnership. There are also certain tax risks associated with an investment in units of master limited partnerships. In addition, conflicts of interest may exist between common unit holders, subordinated unit holders and the general partner of a master limited partnership, including a conflict arising as a result of incentive distribution payments. The benefit a Fund derives from investment in MLP units is largely dependent on the MLPs being treated as partnerships

and not as corporations for federal income tax purposes. If an MLP were classified as a corporation for federal income tax purposes, there would be reduction in the after-tax return to a Fund of distributions from the MLP, likely causing a reduction in the value of a Fund's shares. MLP entities are typically focused in the energy, natural resources and real estate sectors of the economy. A downturn in the energy, natural resources or real estate sectors of the economy could have an adverse impact on a Fund. At times, the performance of securities of companies in the energy, natural resources and real estate sectors of the economy may lag the performance of other sectors or the broader market as a whole. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding Master Limited Partnerships, if applicable.

Options/Swaptions Writing/Purchasing — To the extent consistent with its Investment Objective and Strategies, a Fund may invest in financial options/swaptions contracts for the purpose of hedging its existing portfolio securities, or securities that a Fund intends to purchase, against fluctuations in fair market value caused by changes in prevailing market interest rates. A Fund may also invest in financial option/swaption contracts to enhance its returns. When the Fund writes or purchases an option/swaption, an amount equal to the premium received or paid by the Fund is recorded as a liability or an asset and is subsequently adjusted to the current market value of the option/swaption written or purchased. Premiums received or paid from writing or purchasing options/swaptions which expire unexercised are treated by the Fund on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option/swaption is exercised, the premium paid or received is added to the cost of the purchase or proceeds from the sale in determining whether the Fund has realized a gain or a loss. The Core Fixed Income Fund had options/swaption contracts as of May 31, 2023, as disclosed in the Funds’ Schedules of Investments or Consolidated Schedules of Investments.

The risk in writing a call option/swaption is a Fund may give up the opportunity for profit if the market price of the security increases. The risk in writing a put option/swaption is a Fund may incur a loss if the market price of the security decreases and the option/swaption is exercised. The risk in purchasing an option/swaption is a Fund may pay a premium whether or not the option/swaption is exercised. The Funds also have the additional risk of being unable to enter into a closing transaction at an acceptable price if a liquid secondary market does not exist. Option/swaption contracts also

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

involve the risk that they may not work as intended due to unanticipated developments in market conditions or other causes.

Finally, the risk exists that losses on written options could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding open option/swaption contracts as of May 31, 2023, if applicable.

Securities Sold Short—To the extent consistent with its Investment Objective and Strategies, a Fund may engage in short sales. Short sales are transactions under which a Fund sells a security it does not own. To complete such a transaction, a Fund must borrow the security to make delivery to the buyer. A Fund then is obligated to replace the security borrowed by purchasing the security at the market price at the time of the replacement. The price at such time may be more or less than the price at which the security was sold by a Fund. Until the security is replaced, a Fund is required to pay the lender amounts equal to any dividends or interest that accrue during the period of the loan. Dividends and interest are shown as an expense for financial reporting purposes. To borrow the security, a Fund also may be required to pay a premium, which would decrease proceeds of the security sold. The proceeds of the short sale are retained by the broker, to the extent necessary to meet margin requirements, until the short position is closed out. A gain, limited to the price at which a Fund sold the security short, or a loss, unlimited in size, will be recognized upon the close of a short sale.

A Fund must comply with Rule 18f-4 under the 1940 Act with respect to its short sale borrowings, which are considered Derivative Transactions under the Rule. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding securities sold short as of May 31, 2023, if applicable.

Swap Agreements — To the extent consistent with its Investment Objective and Strategies, a Fund may invest in swap contracts as an efficient means to synthetically obtain exposure to securities or baskets of securities and to manage a Fund’s interest rate duration and yield curve exposure. Swap contracts may also be used to mitigate a Fund’s overall level of risk and/or a Fund’s risk to particular types of securities, currencies or market segments. Interest rate swaps may further be used to manage a Fund’s yield spread sensitivity. A Fund may buy swaps in an attempt to manage credit risk where a Fund has credit exposure to an issuer, and a Fund may sell credit default swaps to more efficiently gain credit exposure to a security or basket of securities. A swap agreement is a two-party contract under which

an agreement is made to exchange returns from predetermined investments or instruments, including a particular interest rate, foreign currency, or “basket” of securities representing a particular index. Swap agreements are privately negotiated in the over-the-counter market (“OTC swaps”) or may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“Centrally Cleared swaps”). Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal. Credit-default swaps involve periodic payments by a Fund or counterparty based on a specified rate multiplied by a notional amount assigned to an underlying debt instrument or group of debt instruments in exchange for the assumption of credit risk on the same instruments. In the event of a credit event, usually in the form of a credit rating downgrade, the party receiving periodic payments (i.e. floating rate payer) must pay the other party (i.e. fixed rate payer) an amount equal to the recovery rate used to settle the contracts. The recovery rate is a function of how many credit default swap investors wish to deliver the security or receive the security. The recovery rate is determined through an auction process. Total return swaps allow an investor to benefit from the cash flow without ever actually owning the underlying security. The receiver must pay any decline in value to the payer at the end of the total return swap. However, the investor does not need to make a payment if there is no decline in price. Payments can be made on various indices, bonds (i.e. mortgage backed securities, bank debt and corporate), loans or commodities. The value of a total return swap is equal to the change in value of the underlying asset versus the accrued income payment based on LIBOR or some other form of indices on the notional amount. Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal to manage a Fund’s exposure to interest rates. Payments received or made are recorded as realized gains or loss. A Fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or if the counterparty defaults on its obligation to perform. Risk of loss may exceed amounts recognized on the Statements of Assets and Liabilities or Consolidated Statements of Assets and Liabilities. Interest rate swap contracts outstanding at period end, if any, are listed after a Fund’s portfolio. In connection

with swap agreements securities may be set aside as collateral by a Fund’s custodian.

Swaps are marked-to-market daily based upon quotations from market makers and the resulting changes in market values, if any, are recorded as an unrealized gain or loss on the Statements of Operations or Consolidated Statements of Operations. Net payments of interest are recorded as realized gains or losses. Daily changes in valuation of Centrally Cleared swaps, if any, are recorded as a receivable or payable for the change in value as appropriate (“variation margin”) on the Statements of Assets and Liabilities or Consolidated Statements of Assets and Liabilities.

Entering into swap agreements involves, to varying degrees, elements of credit and market risk in excess of the amounts recognized on the Statements of Assets and Liabilities or Consolidated Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreement may default on its obligation to perform and that there may be unfavorable changes in the fluctuation of interest rates. Risks also arise from potential losses from adverse market movements.

This risk is mitigated by having a master netting arrangement between a Fund and the counterparty and by having the counterparty post collateral to cover a Fund’s exposure to the counterparty. See Note 3 for further details. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding open swap agreements as of May 31, 2023, if applicable.

Forward Treasury Commitments — To the extent consistent with its Investment Objective and Strategies, a Fund may invest in commitments to purchase U.S. Treasury securities on an extended settlement basis. Such transactions involve the commitment to purchase a security with payment and delivery taking place in the future, sometimes a month or more after the transaction date. The Funds account for such transactions as purchases and sales and record an unrealized gain or loss each day equal to the difference between the cost of the purchase commitment and the current market value. Realized gains or losses are recorded upon closure or settlement of such commitments. No interest is earned prior to settlement of the transaction. These instruments are subject to market fluctuation due to changes in interest rates and the market value at the time of settlement could be higher or lower than the purchase price. A Fund may incur losses due to changes in the value of the underlying treasury securities from

interest rate fluctuations or as a result of counterparty nonperformance.

Delayed Delivery Transactions — To the extent consistent with its Investment Objective and Strategies, a Fund may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its net asset value. The Funds may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security.

A Fund must comply with Rule 18f-4 under the 1940 Act with respect to its delayed delivery transactions, which are considered Derivative Transactions under the Rule. Refer to each Fund’s Schedule of Investments or Consolidated Schedule of Investments for details regarding delayed delivery transactions as of May 31, 2023, if applicable.

Participation Notes (P-Notes) — To the extent consistent with its Investment Objective and Strategies, a Fund may acquire P-Notes issued by participating banks or broker-dealers. P-Notes are participation interest notes that are designed to offer a return linked to a particular underlying equity, debt, currency or market. The P-Notes in which the Fund may invest will typically have a maturity of one year. When purchasing a P-Note, the posting of margin is not required because the full cost of the P-Note (plus commission) is paid at the time of purchase. When the P-Note matures, the issuer will pay to, or receive from, the purchaser the difference between the minimal value of the underlying instrument at the time of purchase and that instrument’s value at maturity. Investments in P-Notes involve the same risks associated with a direct investment in the underlying foreign companies of foreign securities markets that they seek to replicate.

In addition, there can be no assurance that the trading price of P-Notes will equal the underlying value of the foreign companies or foreign securities markets that they seek to replicate. The holder of a participation note that is linked to a particular underlying security is entitled to receive any dividends paid in connection with an underlying security or instrument. However, the

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

holder of a participation note does not receive voting rights as it would if it directly owned the underlying security or instrument. P-Notes are generally traded over-the-counter. P-Notes constitute general unsecured contractual obligations of the banks or broker-dealers that issue them and the counterparty. There is also counterparty risk associated with these investments because the Fund is relying on the creditworthiness of such counterparty and has no rights under a participation note against the issuer of the underlying security. In addition, the Fund will incur transaction costs as a result of investments in P-Notes.

Loan Participations and Brady Bonds — To the extent consistent with its Investment Objective and Strategies, a Fund may invest in Loan Participations. Loan Participations include fixed and floating rate loans that are privately negotiated between a corporate borrower and one or more financial institutions, including, but not limited to, term loans, revolvers, and other instruments issued in the bank loan market. Each Fund may acquire interests in loans directly (by way of assignment from the selling institution) or indirectly (by way of the purchase of a participation interest from the selling institution). Under a bank loan assignment, a Fund generally will succeed to all the rights and obligations of an assigning lending institution and becomes a lender under the loan agreement with the relevant borrower in connection with that loan. Under bank loan participation, the Fund generally will have a contractual relationship only with the lender, not with the relevant borrower. As a result, a Fund generally will have the right to receive payments of principal, interest, and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the relevant borrower. The Fund may not directly benefit from the collateral supporting the debt obligation in which it has purchased the participation. As a result, a Fund will assume the credit risk of both the borrower and the institution selling the participation to the Fund. The interest rate indicated in the Fund’s Schedule of Investments is the rate in effect at May 31, 2023. Pursuant to the terms of certain loan agreements, the Funds may hold unfunded commitments in loan participations which are disclosed on the Statement of Assets and Liabilities. Unfunded commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market and any unrealized gains or losses are recorded in the Statement of Assets and Liabilities. The Funds disclosed

consent fees and amendment income in the Statement of Operations as “Interest income”.

Certain debt obligations, customarily referred to as “Brady Bonds,” are created through the exchange of existing commercial bank loans to foreign entities for new obligations in connection with debt restructuring under a plan introduced by former U.S. Secretary of the Treasury Nicholas F. Brady. Brady Bonds have only been issued since 1989, and, accordingly, do not have a long payment history. They are issued by governments that may have previously defaulted on the loans being restructured by the Brady Bonds, so they are subject to the risk of default by the issuer. They may be fully or partially collateralized or uncollateralized and issued in various currencies.

Collateralized Debt Obligations — To the extent consistent with its Investment Objective and Strategies, a Fund may invest in collateralized debt obligations (“CDOs”), which include collateralized loan obligations (“CLOs”) and other similarly structured securities. CLOs are a type of asset-backed securities. A CLO is a trust typically collateralized by a pool of loans, which may include, among others, domestic and foreign senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans. CDOs and CLOs may charge management fees and administrative expenses.

Dividends and Distributions to Shareholders — Dividends from net investment income are declared and paid to shareholders quarterly for the Large Cap, Large Cap Disciplined Equity, Large Cap Index, S&P 500 Index, Extended Market Index, Small Cap, Small Cap II, Small/Mid Cap Equity, U.S. Equity Factor Allocation, U.S. Managed Volatility, Opportunistic Income, Emerging Markets Debt and Real Return Funds; declared daily and paid monthly for the Core Fixed Income, High Yield Bond, Long Duration, Long Duration Credit, Ultra Short Duration Bond and Intermediate Duration Credit Funds; declared and paid at least annually for the Global Managed Volatility, World Equity Ex-US, Screened World Equity Ex-US, World Select Equity, Emerging Markets Equity, Limited Duration Bond, Dynamic Asset Allocation and Multi-Asset Real Return Funds. Dividends and distributions are recorded on the ex-dividend date. Any net realized capital gains will be distributed at least annually by the Funds.

Investments in Real Estate Investment Trusts (“REITs”) — With respect to the Funds, with the exception of the World Equity Ex-US, Screened World Equity Ex-US and Real Return Funds, dividend income is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications

including some management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.

Restricted Securities — The Funds may invest in private placement investments that were purchased through private offerings or acquired through initial public offerings and cannot be sold without prior registration under the Securities Act of 1933 or pursuant to an exemption therefrom. In addition, the Funds have generally agreed to further restrictions on the disposition of certain holdings as set forth in various agreements entered into in connection with the purchase of these investments. These investments are valued at fair value as determined in accordance with the procedures approved by the Board. Please refer to the Schedule of Investments for Funds that held Restricted Securities.

Investment in Subsidiary — The Dynamic Asset Allocation and Multi-Asset Real Return Funds may invest in their own Subsidiary. By investing in its Subsidiary, each Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The commodity-related instruments held by a Subsidiary are generally similar to those that are permitted to be held by the applicable Fund and are subject to the same risks that apply to similar investments if held directly by the Fund. A Subsidiary, however, is not registered under the 1940 Act and will not be subject to all of the investor protections of the 1940 Act. Thus, the Dynamic Asset Allocation and Multi-Asset Real Return Funds, as investors in their own Subsidiary, will not have all of the protections offered to investors in registered investment companies.

However, each Fund wholly owns and controls its respective Subsidiary, and the Funds and the Subsidiaries are all managed by SIMC, making it unlikely that the Subsidiary will take action contrary to the interests of the applicable Fund or its shareholders. While a Subsidiary has its own Board of Directors (“Board”) that is responsible for overseeing the operations of such Subsidiary, the respective Fund’s Board has oversight responsibility for the investment activities of the Fund, including its investment in the respective Subsidiary, and the Fund’s role as the sole shareholder of such Subsidiary. It is not currently expected that shares of the Subsidiary will be sold or offered to investors other than the respective Fund.

Changes in the laws of the United States and/or the Cayman Islands or governmental interpretation of

such laws, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or its respective Subsidiary to operate as intended and could negatively affect the Fund and its shareholders. For example, Cayman Islands law does not currently impose any income, corporate or capital gains tax, estate duty, inheritance tax, gift tax or withholding tax on the Subsidiaries. If Cayman Islands law changes such that the Subsidiaries must pay Cayman Islands governmental authority taxes, Fund shareholders would likely suffer decreased investment return.

3. CREDIT DERIVATIVES

A Fund may use credit default swaps to reduce risk where a Fund has exposure to the issuer, or to take an active long or short position with respect to the likelihood of an event of default. The reference obligation of the swap can be a single issuer, a “basket” of issuers, or an index. The underlying referenced assets are corporate debt, sovereign debt and asset backed securities.

The buyer of a credit default swap is generally obligated to pay the seller a periodic stream of payments over the term of the contract in return for a contingent payment upon the occurrence of a credit event with respect to an underlying reference obligation. Generally, a credit event for corporate or sovereign reference obligations means bankruptcy, failure to pay, obligation acceleration, repudiation/moratorium or restructuring. For credit default swaps on asset-backed securities, a credit event may be triggered by events such as failure to pay principal, maturity extension, rating downgrade or write-down.

If a Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index.

If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The notional amounts of the swaps are not recorded in the financial statements; however the notional amounts approximate the maximum potential amount of future payments that the Fund could be required to make if the Fund was the seller of protection and a credit event were to occur. Those credit default swaps (“CDS”) for which the Fund is providing protection at the balance sheet date are summarized as follows:

The credit spread disclosed above for each reference obligation where the Fund is the seller of protection is a representation of the current payment/performance risk of the swap.

The following tables show the derivatives categorized by underlying risk exposure.

The fair value of derivative instruments located on the Statements of Assets and Liabilities or Consolidated Statements of Assets and Liabilities as of May 31, 2023 was as follows ($ Thousands):

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The effect of derivative instruments on the Statements of Operations or Consolidated Statements of Operations for the year ended May 31, 2023.

Amount of realized gain or (loss) on derivatives recognized in income ($ Thousands):

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Change in unrealized appreciation or (depreciation) on derivatives recognized in income ($ Thousands):

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The following table discloses the average quarterly balances of the Funds' derivative activity during the year ended May 31, 2023 ($ Thousands):

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

transactions governed under a single agreement with a specific counterparty entity.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant Master Agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $250,000 depending on the counterparty and the type of Master Agreement. United States Treasury Securities and U.S. dollar cash are generally the preferred forms of collateral. Securities and cash pledged as collateral are reflected as assets on the Statements of Assets and Liabilities/Consolidated Statements of Assets and Liabilities as either a component of investments at value (securities) or deposits due from counterparties (cash). Cash collateral received is not typically held in a segregated account and as such is reflected as a liability on the Statements of Assets and Liabilities/Consolidated Statements of Assets and Liabilities as deposits due to counterparties. The market value of any securities received as collateral is not reflected as a component of net asset value. A Fund’s overall exposure to counterparty risk can change substantially within a short period, as it is affected by each transaction subject to the relevant Master Agreement.

Customer Account Agreements and related addendums govern exchange traded derivatives transactions such as futures, options on futures, and centrally cleared swaps. Exchange traded derivative transactions require posting of initial margin as determined by each relevant clearing agency which is segregated at a broker account

registered with the Commodities Futures Trading Commission (“CFTC”), or the applicable regulator. In the US, counterparty risk is significantly reduced as creditors of the futures broker do not have claim to Fund assets in the segregated account. Additionally, portability of exposure in the event of default further reduces risk to the Funds. Variation margin, or changes in market value, are exchanged daily, but may not be netted between futures and cleared OTC derivatives. Refer to each Fund’s Statement of Assets and Liabilities or Consolidated Statement of Assets and Liabilities for market value, variation margin, and collateral of exchange-traded or centrally cleared financial derivative instruments.

International Swaps and Derivatives Association, Inc. Master Agreements and Credit Support Annexes (“ISDA Master Agreements”) govern OTC financial derivative transactions entered into by a Fund and select counterparties. ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral and events of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement.

Any election to terminate early could be material to the financial statements. In limited circumstances, the ISDA Master Agreement may contain additional provisions that add additional counterparty protection beyond coverage of existing daily exposure if the counterparty has a decline in credit quality below a predefined level. These amounts, if any, may be segregated with a third party custodian.

The following is a summary by derivative type of the market value of OTC financial derivative instruments and collateral (received) pledged as of May 31, 2023 ($ Thousands):

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(2) Net Exposures represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity.

5. BASIS FOR CONSOLIDATION FOR THE DYNAMIC ASSET ALLOCATION AND MULTI-ASSET REAL RETURN FUNDS

The Consolidated Schedules of Investments, Consolidated Statements of Assets and Liabilities, Consolidated Statements of Operations, Consolidated Statements of Changes in Net Assets, Consolidated Statement of Cash Flows, and the Consolidated Financial Highlights of the Dynamic Asset Allocation and Multi-Asset Real Return Funds include the accounts of their respective Subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation for the Funds. The Subsidiaries have a fiscal year end of May 31 for financial statement consolidation purposes and a nonconforming tax year end of April 30.

The Subsidiaries are classified as controlled foreign corporations under the Internal Revenue Code of 1986 (“IRC”). The Subsidiaries taxable income is included in the calculation of the Funds’ taxable income. Net losses of the Subsidiaries are not deductible by the Funds either in the current period or carried forward to future periods.

The Dynamic Asset Allocation and Multi-Asset Real Return Funds may invest up to 25% of their total assets in their respective Subsidiary.

A summary of the Funds’ investments in the Subsidiaries are as follows:

	Inception Date of Subsidiary		Subsidiary Net Assets at May 31, 2023 ($ Thousands)		% of Total Net Assets at May 31, 2023
DAA Commodity Strategy
Subsidiary, Ltd.		January 28, 2014	$	248,950		14.17	%

MARR Commodity Strategy
Subsidiary, Ltd.		June 27, 2013	$	137,639		17.17	%

6. INVESTMENT ADVISORY, ADMINISTRATION AND DISTRIBUTION AGREEMENTS, INVESTMENT SUBADVISORY AGREEMENTS AND OTHER TRANSACTIONS WITH AFFILIATES

Investment Advisory, Administration and Distribution Agreements — SEI Investments Global Funds Services (the “Administrator”) serves as administrator to the Funds. The Administrator provides certain administrative and shareholder servicing for an annual fee of 0.05% of the average daily net assets of each Fund. For the year ended May 31, 2023, the Administrator has voluntarily agreed to waive all of its fees. The Funds’ Administrator may discontinue all or part of these voluntary waivers at any time.

SIMC serves as investment adviser (the “Adviser”) to each Fund. In connection with serving as Adviser, SIMC is entitled to a fee that is calculated daily and paid monthly, based on the average daily net assets of each Fund. SIMC plans to voluntarily waive a portion of its fees in order to keep investment advisory fees at a specified level. The Funds’ Adviser may discontinue all or part of

these voluntary waivers at any time. Accordingly, the advisory fee and voluntary expense limitations for each Fund are as follows:

	Advisory Fees			Investment Advisory Fees After Fee Waivers
Large Cap Fund		0.40	%		0.16	%
Large Cap Disciplined Equity Fund		0.40			0.16
Large Cap Index Fund		0.05			0.01
S&P 500 Index Fund		0.03			0.01
Extended Market Index Fund		0.12			0.03
Small Cap Fund		0.65			0.42
Small Cap II Fund		0.65			0.41
Small/Mid Cap Equity Fund		0.65			0.39
U.S. Equity Factor Allocation Fund		0.25			0.00
U.S. Managed Volatility Fund		0.65			0.18
Global Managed Volatility Fund		0.65			0.23
World Equity Ex-US Fund		0.55			0.25
Screened World Equity Ex-US Fund		0.65			0.22
World Select Equity Fund		0.55			0.29
Emerging Markets Equity Fund⁽¹⁾		1.05			0.52
Opportunistic Income Fund		0.45			0.21
Core Fixed Income Fund		0.30			0.10
High Yield Bond Fund		0.4875			0.26
Long Duration Fund		0.30			0.12
Long Duration Credit Fund		0.30			0.12
Ultra Short Duration Bond Fund		0.15			0.10
Emerging Markets Debt Fund		0.85			0.36
Real Return Fund		0.22			0.00
Limited Duration Bond Fund		0.25			0.09
Intermediate Duration Credit Fund		0.25			0.13
Dynamic Asset Allocation Fund		0.60			0.06
Multi-Asset Real Return Fund		0.55			0.19

(1) Effective September 30, 2022, SIMC, the Fund's investment adviser, has contractually agreed to waive or reduce its management fee for a period of one year as necessary to keep the management fee paid by the Fund during the fiscal year from exceeding 0.95%. The Board of Trustees agreed to not renew the waiver effective July 1, 2023.

As of May 31, 2023, SIMC has entered into investment sub-advisory agreements with the following parties and pays the sub-advisers out of the fee that it receives from the Funds:

Investment Sub-Adviser

Large Cap Fund

Acadian Asset Management LLC

Copeland Capital Management, LLC

Cullen Capital Management LLC

Fred Alger Management, LLC

LSV Asset Management*

Mar Vista Investment Partners, LLC

Large Cap Disciplined Equity Fund

Acadian Asset Management LLC

Ceredex Value Advisors, LLC

Coho Partners, Ltd.

Copeland Capital Management, LLC

Mackenzie Investments Corporation

Large Cap Index Fund

SSGA Funds Management, Inc.

S&P 500 Index Fund

SSGA Funds Management, Inc.

Extended Market Index Fund

SSGA Funds Management, Inc.

Small Cap Fund

Axiom Investors LLC

EAM Investors, LLC

Los Angeles Capital Management LLC

LSV Asset Management*

Martingale Asset Management, L.P.

Small Cap II Fund

ArrowMark Colorado Holdings, LLC

Copeland Capital Management, LLC

EAM Investors, LLC

Easterly Investment Partners LLC

Leeward Investments, LLC

Los Angeles Capital Management, LLC

Small/Mid Cap Equity Fund

ArrowMark Colorado Holdings, LLC

Axiom Investors LLC

Cardinal Capital Management, L.L.C.

Copeland Capital Management, LLC

Jackson Creek Investment Advisors LLC

LSV Asset Management*

U.S. Managed Volatility Fund

Allspring Global Investments, LLC

LSV Asset Management*

Global Managed Volatility Fund

Acadian Asset Management, LLC

Allspring Global Investments, LLC

LSV Asset Management*

World Equity Ex-US Fund

Acadian Asset Management LLC

Allspring Global Investments, LLC

Delaware Investments Fund Advisers, a series of Macquarie Investment Management Business Trust

Jupiter Asset Management Ltd.

Lazard Asset Management LLC

Pzena Investment Management, LLC

Screened World Equity Ex-US Fund

Acadian Asset Management LLC

Allspring Global Investments, LLC

Lazard Asset Management LLC

World Select Equity Fund

AS Trigon Asset Management

LSV Asset Management*

Mackenzie Investments Corporation

Metropole Gestion SA

Poplar Forest Capital LLC

Rhicon Currency Management Pte Ltd.

Sompo Asset Management Co., Ltd.

StonePine Asset Management, Inc.

Towle & Co.

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Emerging Markets Equity Fund

Causeway Capital Management LLC

JOHCM (USA) Inc.

KBI Global Investors (North America) Ltd.

Robeco Institutional Asset Management US Inc.

RWC Asset Advisers (US) LLC

WCM Investment Management, LLC

Opportunistic Income Fund

Ares Capital Management II, LLC

Manulife Investment Management (US) LLC

Wellington Management Company, LLP

Core Fixed Income Fund

Allspring Global Investments, LLC

Jennison Associates LLC

MetLife Investment Management, LLC

Metropolitan West Asset Management, LLC

Western Asset Management Company, LLC

Western Asset Management Company Limited

High Yield Bond Fund

Ares Capital Management II, LLC

Benefit Street Partners, LLC

Brigade Capital Management, LP

J.P. Morgan Investment Management, Inc.

T. Rowe Price Associates, Inc.

Long Duration Fund

Income Research & Management

Jennison Associates LLC

Legal & General Investment Management America, Inc.

Metropolitan West Asset Management, LLC

Long Duration Credit Fund

Income Research & Management

Jennison Associates LLC

Legal & General Investment Management America, Inc.

MetLife Investment Management, LLC

Metropolitan West Asset Management, LLC

Ultra Short Duration Bond Fund

MetLife Investment Management, LLC

Wellington Management Company, LLP

Emerging Markets Debt Fund

Colchester Global Investors Limited

Marathon Asset Management, L.P.

Ninety One UK Limited

Neuberger Berman Investment Advisers, LLC

Stone Harbor Investment Partners, a division of Virtus Fixed Income Advisers, LLC

Limited Duration Bond Fund

MetLife Investment Management, LLC

Metropolitan West Asset Management, LLC

Intermediate Duration Credit Fund

Income Research & Management

Legal & General Investment Management America, Inc.

MetLife Investment Management, LLC

Dynamic Asset Allocation Fund

SSGA Funds Management, Inc.

Multi-Asset Real Return Fund

AllianceBernstein L.P.

Columbia Management Investment Advisers, LLC

Credit Suisse Asset Management, LLC

Franklin Advisers, Inc.

* Affiliated

SEI Investments Distribution Co. (the “Distributor”), a wholly owned subsidiary of SEI Investments Company (“SEI”), serves as each Fund’s Distributor pursuant to a Distribution Agreement with the Trust.

Other — The Distribution Agreement between the Distributor and the Trust provides that the Distributor may receive compensation on fund transactions effected for the Trust in accordance with Securities and Exchange Commission (“SEC”) rules. Accordingly, it is expected that fund transactions may result in brokerage commissions being paid to the Distributor. The SEC rules require that such commissions not exceed usual and customary commissions.

Payments to Affiliates — Certain officers and/or trustees of the Trust are also officers and/or Directors of the Distributor, the Adviser and/or the Administrator. The Trust pays each unaffiliated Trustee an annual fee for attendance at quarterly and interim meetings. Compensation of officers and affiliated Trustees of the Trust is paid by the Distributor or Administrator.

A portion of the services provided by the Chief Compliance Officer (“CCO”) and his staff, whom are employees of the Administrator, are paid for by the Trust as incurred. The services include regulatory oversight of the Trust’s Adviser, sub-advisers and service providers as required by SEC regulations.

LSV Asset Management (partially-owned subsidiary of SIMC) serves as a sub-adviser to the Large Cap, Small Cap, Small/Mid Cap Equity, Global Managed Volatility, U.S. Managed Volatility and World Select Equity Funds. For this service, LSV Asset Management is entitled to receive a fee from SIMC. Such fees for the year ended May 31, 2023, were as follows ($ Thousands):

Large Cap Fund	$	175
Small Cap Fund		264
Small/Mid Cap Equity Fund		792
U.S. Managed Volatility Fund		1,028
Global Managed Volatility Fund		2,414
World Select Equity Fund		40

Fees Paid Indirectly — The Funds may direct certain fund trades to the Distributor who pays a portion of each Fund’s expenses. Accordingly, the expenses reduced, which were used to pay third party expenses, can be found on the Statements of Operations or Consolidated Statement of Operations and the effect on each Fund’s expense ratio, as a percentage of each Fund’s average

daily net assets for the year ended May 31, 2023, can be found on the Financial Highlights or Consolidated Financial Highlights.

Investment in Affiliated Security — The Funds may invest in the SEI Daily Income Trust (“SDIT”) Government Fund, an affiliated money market fund to manage excess cash or to serve as margin or collateral for derivative positions. Additionally, the Funds may invest the cash collateral from the securities lending program in the SEI Liquidity Fund, L.P.

A Fund may purchase companies with which it is affiliated to the extent these companies are represented in its benchmark index.

Interfund Lending — The SEC has granted an exemption that permits the Trust to participate in an interfund lending program (“The Program”) with existing or future investment companies registered under the 1940 Act that are advised by SIMC (the “SEI Funds”). The Program allows the SEI Funds to lend money to and borrow

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

8. INVESTMENT TRANSACTIONS

The cost of security purchases and proceeds from the sale and maturities of securities other than temporary cash investments, during the year ended May 31, 2023, were as follows:

	U.S. Gov't ($ Thousands)		Other ($ Thousands)		Total ($ Thousands)
Large Cap Fund
Purchases	$	—	$	625,354	$	625,354
Sales		—		669,662		669,662
Large Cap Disciplined Equity Fund
Purchases		—		1,370,748		1,370,748
Sales		—		1,458,672		1,458,672
Large Cap Index Fund
Purchases		—		179,610		179,610
Sales		—		440,553		440,553
S&P 500 Index Fund
Purchases		—		274,380		274,380
Sales		—		992,259		992,259

	U.S. Gov't ($ Thousands)		Other ($ Thousands)		Total ($ Thousands)
Extended Market Index Fund
Purchases		—		452,330		452,330
Sales		—		648,158		648,158
Small Cap Fund
Purchases		—		253,387		253,387
Sales		—		247,206		247,206
Small Cap II Fund
Purchases		—		300,621		300,621
Sales		—		359,637		359,637
Small/Mid Cap Equity Fund
Purchases		—		649,794		649,794
Sales		—		722,663		722,663
U.S. Equity Factor Allocation Fund
Purchases		—		774,305		774,305
Sales		—		644,254		644,254
U.S. Managed Volatility Fund
Purchases		—		456,936		456,936
Sales		—		512,636		512,636

	U.S. Gov't ($ Thousands)		Other ($ Thousands)		Total ($ Thousands)
Global Managed Volatility Fund
Purchases		—		1,489,930		1,489,930
Sales		—		1,701,582		1,701,582
World Equity Ex-US Fund
Purchases		—		8,105,481		8,105,481
Sales		—		8,906,508		8,906,508
Screened World Equity Ex-US Fund
Purchases		—		124,766		124,766
Sales		—		127,836		127,836
World Select Equity Fund
Purchases		—		142,990		142,990
Sales		—		160,089		160,089
Emerging Markets Equity Fund
Purchases		—		592,745		592,745
Sales		—		681,137		681,137
Opportunistic Income Fund
Purchases		10,827		92,358		103,185
Sales		12,088		185,044		197,132
Core Fixed Income Fund
Purchases		23,527,100		2,165,396		25,692,496
Sales		23,912,224		2,464,600		26,376,824
High Yield Bond Fund
Purchases		1,572		698,581		700,153
Sales		—		913,860		913,860
Long Duration Fund
Purchases		551,596		122,333		673,929
Sales		572,493		152,573		725,066
Long Duration Credit Fund
Purchases		1,596,342		1,039,593		2,635,935
Sales		1,552,428		553,224		2,105,652
Ultra Short Duration Bond Fund
Purchases		33,549		91,546		125,095
Sales		54,346		209,789		264,135
Emerging Markets Debt Fund
Purchases		16,152		1,369,178		1,385,330
Sales		15,527		1,476,342		1,491,869
Real Return Fund
Purchases		147,212		—		147,212
Sales		119,549		—		119,549
Limited Duration Bond Fund
Purchases		3,749,332		597,731		4,347,063
Sales		3,312,790		583,467		3,896,257
Intermediate Duration Credit Fund
Purchases		3,521,632		2,045,629		5,567,261
Sales		3,410,650		1,413,007		4,823,657
Dynamic Asset Allocation Fund
Purchases		—		383,628		383,628
Sales		—		670,943		670,943
Multi-Asset Real Return Fund
Purchases		378,699		499,624		878,323
Sales		588,948		241,904		830,852

9. FEDERAL TAX INFORMATION

It is each Fund’s intention to qualify for or continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute all of its taxable income (including net capital gains). Accordingly, no provision for Federal income taxes is required.

The Dynamic Asset Allocation and Multi-Asset Real Return Funds have each requested private letter rulings from the Internal Revenue Service (“IRS”) concluding that the income generated from their investment in their respective Subsidiaries, each of which invests in commodity-linked derivatives, will be “qualifying income” for regulated investment company (“RIC”) qualification purposes, regardless of whether actual distributions are made to the Funds by the respective Subsidiary.

In July 2011, the IRS suspended the issuance of private letter rulings regarding the investment by RICs into controlled foreign corporations which principally invest in commodities, such as the Subsidiaries, indicating that it was reconsidering its policies surrounding the issuance of these rulings. The Dynamic Asset Allocation and Multi-Asset Real Return Funds have secured an opinion of counsel based on customary representations that actual distributions made to the Funds should be treated as “qualifying income”. The Treasury released a proposed regulation in October of 2016 stating that income inclusion from a controlled foreign corporation is treated as dividends i.e. qualifying income only to the extent that the Funds received cash distributions from the subsidiary. The distribution requirement is consistent with the Funds’ policy. The Treasury released a final regulation in March 2019 reversing its position on the proposed regulation by removing the cash distribution requirement. As a conservative measure, the Funds will continue to follow their existing distribution policy.

Dividends from net investment income and distributions from net realized capital gains are determined in accordance with U.S. Federal income tax regulations, which may differ from those amounts determined under U.S. GAAP. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital or distributable earnings (loss), as appropriate, in the period that the differences arise.

The permanent differences are primarily attributable to different treatment for gains and losses on paydowns of mortgage and asset backed securities for tax purposes, defaulted bond basis adjustments, reclassification of long term capital gain distributions on REIT securities, reclassification of income and expense from swap transactions, basis adjustments for investments in partnerships, and gains and losses on passive foreign investment companies, collateralized loan obligation basis adjustments, corporate action adjustments and certain foreign currency related transactions. The permanent differences that is charged or credited to Paid In Capital and Distributable Earnings are primarily related to partnership investment and has been

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The tax character of dividends and distributions paid during the last two years or periods ended May 31, were as follows:

As of May 31, 2023, the components of distributable earnings (accumulated losses) were as follows:

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Post-October losses represent losses realized on investment transactions from November 1, 2022 through May 31, 2023 that, in accordance with Federal income tax regulations, the Funds may elect to defer and treat as having arisen in the following fiscal year. Other temporary differences are primarily consist of straddle loss deferrals and dividend payable.

During the year ended May 31, 2023, the funds had no utilization of capital loss carryforwards to offset capital gains.

The Funds have capital losses carried forward as follows:

	Short-Term Loss ($ Thousands)		Long-Term Loss ($ Thousands)		Total ($ Thousands)
Extended Market Index Fund		6,420		–		6,420
Small Cap Fund		16,278		–		16,278
Small/Mid Cap Equity Fund		18,021		–		18,021
World Equity Ex-US Fund		387,602		114,649		502,251
Screened World Equity Ex-US Fund		8,124		–		8,124
World Select Equity Fund		4,017		–		4,017
Emerging Markets Equity Fund		33,654		2,391		36,045
Opportunistic Income Fund		799		42,793		43,592
Core Fixed Income Fund		350,313		274,805		625,118
High Yield Bond Fund		28,150		263,129		291,279
Long Duration Fund		22,591		29,244		51,835
Long Duration Credit Fund		45,281		67,010		112,291
Ultra Short Duration Bond Fund		2,790		4,472		7,262
Emerging Markets Debt Fund		133,981		69,112		203,093
Real Return Fund		1,188		–		1,188
Limited Duration Bond Fund		16,216		22,228		38,444
Intermediate Duration Credit Fund		58,412		71,417		129,829
Multi-Asset Real Return Fund		34,240		33,060		67,300

For Federal income tax purposes, the cost of investments owned at May 31, 2023, and the net realized gains or losses on investments sold for the period were not materially different from amounts reported for financial reporting purposes. These differences are primarily due to investments in partnerships, passive foreign investment companies, defaulted bond and wash sales which cannot be used for Federal income tax purposes in the current year and have been deferred for use in future years. The aggregate gross unrealized appreciation and depreciation on total investments held by the Funds at May 31, 2023, was as follows:

	Federal Tax Cost ($ Thousands)		Appreciated Securities ($ Thousands)		Depreciated Securities ($ Thousands)			Net Unrealized Appreciation (Depreciation) ($ Thousands)
Large Cap Fund	$	554,861	$	186,679	$	(35,427	)	$	151,252
Large Cap Disciplined Equity Fund		1,020,251		242,258		(60,557	)		181,701
Large Cap Index Fund		453,198		1,257,365		(49,483	)		1,207,882
S&P 500 Index Fund		2,006,185		2,540,986		(166,238	)		2,374,748
Extended Market Index Fund		1,052,235		424,732		(246,585	)		178,147
Small Cap Fund		208,730		30,942		(24,390	)		6,552
Small Cap II Fund		234,243		45,783		(26,386	)		19,397
Small/Mid Cap Equity Fund		734,746		133,547		(79,720	)		53,827
U.S. Equity Factor Allocation Fund		894,752		184,801		(60,394	)		124,407
U.S. Managed Volatility Fund		696,636		127,070		(42,643	)		84,427
Global Managed Volatility Fund		2,134,971		166,438		(173,176	)		(6,738	)
World Equity Ex-US Fund		7,108,966		730,931		(490,794	)		240,137

	Federal Tax Cost ($ Thousands)		Appreciated Securities ($ Thousands)		Depreciated Securities ($ Thousands)			Net Unrealized Appreciation (Depreciation) ($ Thousands)
Screened World Equity Ex-US Fund	$	135,053	$	12,768	$	(11,717	)	$	1,051
World Select Equity Fund		204,696		37,857		(21,867	)		15,990
Emerging Markets Equity Fund		949,994		123,132		(128,895	)		(5,763	)
Opportunistic Income Fund		571,194		1,547		(21,028	)		(19,481	)
Core Fixed Income Fund		8,660,352		45,070		(633,096	)		(588,026	)
High Yield Bond Fund		2,251,976		140,318		(531,989	)		(391,671	)
Long Duration Fund		669,789		4,327		(89,138	)		(84,811	)
Long Duration Credit Fund		3,474,814		7,058		(509,410	)		(502,352	)
Ultra Short Duration Bond Fund		342,967		126		(8,746	)		(8,620	)
Emerging Markets Debt Fund		1,946,928		32,239		(305,240	)		(273,001	)
Real Return Fund		331,379		—		(19,295	)		(19,295	)
Limited Duration Bond Fund		2,190,420		1,988		(49,581	)		(47,593	)
Intermediate Duration Credit Fund		4,437,830		15,169		(329,868	)		(314,699	)
Dynamic Asset Allocation Fund		572,370		931,919		(110,368	)		821,551
Multi-Asset Real Return Fund		1,069,671		88,171		(221,899	)		(133,728	)

Management has analyzed the Funds’ tax positions taken on Federal income tax returns for all open tax years and has concluded that as of May 31, 2023, no provision for income tax would be required in the Funds’ financial statements. The Funds’ Federal and state income and Federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

10. CONCENTRATION/RISKS

In the normal course of business, the Trust enters into contracts that provide general indemnifications by the Trust to the counterparty to the contract. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Trust and, therefore, cannot be estimated; however, Management believes that, based on experience, the risk of loss from such claims is considered remote.

The market values of the Core Fixed Income, High Yield Bond, Long Duration, Long Duration Credit, Ultra Short Duration Bond, Limited Duration Bond, Intermediate Duration Credit and Multi-Asset Real Return Funds’ investments will change in response to interest rate changes and other factors. During periods of falling interest rates, the values of fixed income securities

generally rise. Conversely, during periods of rising interest rates, the values of such securities generally decline. Changes by recognized rating agencies in the ratings of any fixed income security and in the ability of an issuer to make payments of interest and principal may also affect the value of these investments.

The World Equity Ex-US, Screened World Equity Ex-US, World Select Equity, Emerging Markets Equity and Emerging Markets Debt Funds concentrate their investments in securities of foreign issuers in various countries. These investments may involve certain considerations and risks not typically associated with investments in the United States, as a result of, among other factors, the possibility of future political and economic developments and the level of governmental supervision and regulation of securities markets in the respective countries.

The following descriptions provide additional information about some of the risks of investing in the Funds. A more complete description of principal risks is included in each Fund’s prospectus under the heading “Principal Risks”.

American Depositary Receipts (ADRs) Risk — ADRs are certificates evidencing ownership of shares of a foreign issuer that are issued by depositary banks and generally trade on an established market. ADRs are subject to many of the risks associated with investing directly in foreign securities, including, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory and tax environments.

Asset-Backed Securities Risk — Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities. Securitization trusts generally do not have any assets or sources of funds other than receivables and related property they own, and asset-backed securities are generally not insured or guaranteed by the related sponsor or any other entity. Asset-backed securities may be more illiquid than more conventional types of fixed income securities that the Fund may acquire.

Bank Loans Risk—With respect to bank loans, the Fund will assume the credit risk of both the borrower and the lender that is selling the participation. The Fund may also have difficulty disposing of bank loans because, in certain cases, the market for such instruments is not highly liquid.

Below Investment Grade Securities (Junk Bonds) Risk — Fixed income securities rated below investment grade (junk bonds) involve greater risks of default or downgrade and are generally more volatile than

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

investment grade securities because the prospect for repayment of principal and interest of many of these securities is speculative. Because these securities typically offer a higher rate of return to compensate investors for these risks, they are sometimes referred to as “high yield bonds,” but there is no guarantee that an investment in these securities will result in a high rate of return.

Collateralized Debt Obligations (CDOs) and Collateralized Loan Obligations (CLOs) Risk — CDOs and CLOs are securities backed by an underlying portfolio of debt and loan obligations, respectively. CDOs and CLOs issue classes or “tranches” that vary in risk and yield and may experience substantial losses due to actual defaults, decrease in market value due to collateral defaults and removal of subordinate tranches, market anticipation of defaults and investor aversion to CDO and CLO securities as a class. The risks of investing in CDOs and CLOs depend largely on the tranche invested in and the type of the underlying debts and loans in the tranche of the CDO or CLO, respectively, in which the Fund invests. CDOs and CLOs also carry risks including, but not limited to, interest rate risk and credit risk, which are described below. For example, a liquidity crisis in the global credit markets could cause substantial fluctuations in prices for leveraged loans and high-yield debt securities and limited liquidity for such instruments. When the Fund invests in CDOs or CLOs, in addition to directly bearing the expenses associated with its own operations, it may bear a pro rata portion of the CDO’s or CLO’s expenses.

Commercial Paper Risk — Commercial paper is a short-term obligation with a maturity generally ranging from one to 270 days and is issued by U.S. or foreign companies or other entities in order to finance their current operations. Such investments are unsecured and usually discounted from their value at maturity. The value of commercial paper may be affected by changes in the credit rating or financial condition of the issuing entities and will tend to fall when interest rates rise and rise when interest rates fall. Asset-backed commercial paper may be issued by structured investment vehicles or other conduits that are organized to issue the commercial paper and to purchase trade receivables or other financial assets. The repayment of asset-backed commercial paper depends primarily on the cash collections received from such an issuer’s underlying asset portfolio and the issuer’s ability to issue new asset-backed commercial paper.

Commodity Investments and Derivatives Risk — Commodity investments and derivatives may be more volatile and less liquid than direct investments in the underlying commodities themselves. Commodity related equity returns can also be affected by the issuer’s

financial structure or the performance of unrelated businesses. The value of a commodity investment or a derivative investment in commodities is typically based upon the price movements of a physical commodity, a commodity futures contract or commodity index or some other readily measurable economic variable that is dependent upon changes in the value of commodities or the commodities markets. The value of these securities will rise or fall in response to changes in the underlying commodity or related benchmark or investment, changes in interest rates or factors affecting a particular industry or commodity, such as natural disasters, weather and U.S. and international economic, political and regulatory developments.

Commodity-Linked Securities Risk — Investments in commodity-linked securities may be more volatile and less liquid than direct investments in the underlying commodities themselves. Commodity-related equity returns can also be affected by the issuer’s financial structure or the performance of unrelated businesses.

Convertible and Preferred Securities Risk — Convertible and preferred securities have many of the same characteristics as stocks, including many of the same risks. In addition, convertible bonds may be more sensitive to changes in interest rates than stocks. Convertible bonds may also have credit ratings below investment grade, meaning that they carry a higher risk of failure by the issuer to pay principal and/or interest when due.

Corporate Fixed Income Securities Risk — Corporate fixed income securities respond to economic developments, especially changes in interest rates, as well as perceptions of the creditworthiness and business prospects of individual issuers.

Credit Risk — The risk that the issuer of a security or the counterparty to a contract will default or otherwise become unable to honor a financial obligation.

Currency Risk — As a result of the Fund’s investments in securities denominated in, and/or receiving revenues in, foreign currencies, the Fund will be subject to currency risk. Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Due to the Fund’s active positions in currencies, it will be subject to the risk that currency exchange rates may fluctuate in response to, among other things, changes in interest rates, intervention (or failure to intervene) by U.S. or foreign governments, central banks or supranational entities, or

by the imposition of currency controls or other political developments in the United States or abroad.

Depositary Receipts Risk — Depositary receipts, such as American Depositary Receipts, are certificates evidencing ownership of shares of a foreign issuer that are issued by depositary banks and generally trade on an established market. Depositary receipts are subject to many of the risks associated with investing directly in foreign securities, including, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory, tax, accounting and audit environments.

Derivatives Risk — The Fund’s use of futures contracts, forwards contracts, options and swaps is subject to market risk, leverage risk, correlation risk and liquidity risk. Leverage risk and liquidity risk are described below and market risk is described above. Many OTC derivative instruments will not have liquidity beyond the counterparty to the instrument. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. The Fund’s use of forward contracts, options and swaps is also subject to credit risk and valuation risk. Credit risk is described below. Valuation risk is the risk that the derivative may be difficult to value and/or valued incorrectly. Each of these risks could cause the Fund to lose more than the principal amount invested in a derivative instrument. Some derivatives have the potential for unlimited loss, regardless of the size of the Fund’s initial investment. The other parties to certain derivative contracts present the same types of credit risk as issuers of fixed income securities. The Fund’s use of derivatives may also increase the amount of taxes payable by shareholders. Regulation relating to a Fund’s use of derivatives and related instruments, including Rule 18f-4 under the 1940 Act, could potentially limit or impact the Fund’s ability to invest in derivatives, limit the Fund’s ability to employ certain strategies that use derivatives and/or adversely affect the value of derivatives and the Fund’s performance.

Duration Risk — The longer-term securities in which the Fund may invest are more volatile. A portfolio with a longer average portfolio duration is more sensitive to changes in interest rates than a portfolio with a shorter average portfolio duration.

Economic Risks of Global Health Events — Global health events and pandemics, such as COVID-19, have the ability to affect—quickly, drastically and substantially the economies of many nations, states, individual companies and the markets in general and can cause disruptions that cannot necessarily be foreseen. The spread of COVID-19 around the world in 2020 resulted in a substantial number of nations implementing social

distancing measures, quarantines, and the shutdown of non-essential businesses and governmental services. Further, it has caused significant volatility in U.S. and international markets. The impact of the outbreak may be short term or may last for an extended period of time.

Equity Market Risk — The risk that the market value of a security may move up and down, sometimes rapidly and unpredictably. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole. Equity markets may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term.

Exchange-Traded Funds (ETFs) Risk — The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio securities. When the Fund invests in an ETF, in addition to directly bearing the expenses associated with its own operations, it will bear a pro rata portion of the ETF’s expenses.

Extension Risk — The risk that rising interest rates may extend the duration of a fixed income security, typically reducing the security’s value.

Fixed Income Market Risk — The prices of the Fund’s fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened. Declines in dealer market-making capacity as a result of structural or regulatory changes could decrease liquidity and/or increase volatility in the fixed income markets. Markets for fixed income securities may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term. In response to these events,

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

the Fund’s value may fluctuate and/or the Fund may experience increased redemptions from shareholders, which may impact the Fund’s liquidity or force the Fund to sell securities into a declining or illiquid market.

Foreign Investment/Emerging and Frontier Markets Risk — The risk that non-U.S. securities may be subject to additional price volatility, illiquidity and decreases in value due to, among other things, political, social and economic developments abroad, government ownership or control of portions of the private sector or certain companies, trade barriers and currency movements, exchange controls and managed adjustments in relative currency values, and different or new and unsettled securities and tax markets, laws and regulations. These additional risks may be heightened with respect to emerging market countries because political turmoil and rapid changes in economic conditions are more likely to occur in these countries. These risks may be magnified further with respect to “frontier market countries,” which are a subset of emerging market countries with even smaller national economies.

Foreign Issuer Risk — The risk that issuers in foreign countries face political and economic events unique to those countries. These events will not necessarily affect the U.S. economy or similar issuer located in the U.S.

Foreign Sovereign Debt Securities Risk — The risks that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due, because of factors such as debt service burden, political constraints, cash flow problems and other national economic factors; (ii) governments may default on their debt securities, which may require holders of such securities to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there is no bankruptcy proceeding by which defaulted sovereign debt may be collected in whole or in part.

Inflation Protected Securities Risk — The value of inflation protected securities, including TIPS, generally will fluctuate in response to changes in “real” interest rates, generally decreasing when real interest rates rise and increasing when real interest rates fall. Real interest rates represent nominal (or stated) interest rates reduced by the expected impact of inflation. In addition, interest payments on inflation-indexed securities will generally vary up or down along with the rate of inflation.

Interest Rate Risk — The risk that a change in interest rates will cause a fall in the value of fixed income securities, including U.S. Government securities, in which a Fund invests. Generally, the value of the Fund’s fixed income securities will vary inversely with the direction of prevailing interest rates. Changing interest rates may have unpredictable effects on the markets and

may affect the value and liquidity of instruments held by the Fund. Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates.

A low interest rate environment may present greater interest rate risk, because there may be a greater likelihood of rates increasing and rates may increase more rapidly.

Investment Company Risk — When the Fund invests in an investment company, including closed-end funds and ETFs, in addition to directly bearing the expenses associated with its own operations, it will bear a pro rata portion of the investment company’s expenses. Further, while the risks of owning shares of an investment company generally reflect the risks of owning the underlying investments of the investment company, the Fund may be subject to additional or different risks than if the Fund had invested directly in the underlying investments. For example, the lack of liquidity in an ETF could result in its value being more volatile than that of the underlying portfolio securities. Closed-end investment companies issue a fixed number of shares that trade on a stock exchange or over-the-counter at a premium or a discount to their net asset value. As a result, a closed-end fund’s share price fluctuates based on what another investor is willing to pay rather than on the market value of the securities in the fund.

Investment in the Subsidiary Risk — The Subsidiary is not registered under the Investment Company Act of 1940, as amended (“the 1940 Act”), and, unless otherwise noted in this prospectus, is not subject to all of the investor protections of the 1940 Act. Thus, the Fund, as an investor in the Subsidiary, will not have all of the protections offered to investors in registered investment companies. In addition, changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or the Subsidiary to operate as intended and could negatively affect the Fund and its shareholders.

Investment Style Risk — The risk that large capitalization securities may underperform other segments of the equity markets or the equity markets as a whole.

Large Capitalization Risk — The risk that larger, more established companies may be unable to respond quickly to new competitive challenges such as changes in technology and consumer tastes. Larger companies

also may not be able to attain the high growth rates of successful smaller companies.

Leverage Risk — The Funds’ use of derivatives may result in the Funds’ total investment exposure substantially exceeding the value of its portfolio securities and the Funds’ investment returns depending substantially on the performance of securities that the Funds may not directly own. The use of leverage can amplify the effects of market volatility on the Funds’ share price and may also cause the Funds to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. The Funds’ use of leverage may result in a heightened risk of investment loss.

Liquidity Risk — The risk that certain securities may be difficult or impossible to sell at the time and the price that the Fund would like. The Fund may have to lower the price of the security, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on Fund management or performance.

Market Risk — The risk that the market value of a security may move up and down, sometimes rapidly and unpredictably. Market risk may affect a single issuer, an industry, a sector or the equity market as a whole. Equity markets may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term.

Mortgage-Backed Securities Risk — Mortgage-backed securities are affected significantly by the rate of prepayments and modifications of the mortgage loans backing those securities, as well as by other factors such as borrower defaults, delinquencies, realized or liquidation losses and other shortfalls. Mortgage-backed securities are particularly sensitive to prepayment risk, which is described below, given that the term to maturity for mortgage loans is generally substantially longer than the expected lives of those securities; however, the timing and amount of prepayments cannot be accurately predicted. The timing of changes in the rate of prepayments of the mortgage loans may significantly affect the Fund’s actual yield to maturity on any mortgage-backed securities, even if the average rate of principal payments is consistent with the Fund’s expectation. Along with prepayment risk, mortgage-backed securities are significantly affected by interest

rate risk, which is described above. In a low interest rate environment, mortgage loan prepayments would generally be expected to increase due to factors such as refinancings and loan modifications at lower interest rates. In contrast, if prevailing interest rates rise, prepayments of mortgage loans would generally be expected to decline and therefore extend the weighted average lives of mortgage-backed securities held or acquired by the Fund.

Mortgage Dollar Rolls Risk — Mortgage dollar rolls are transactions in which the Fund sells securities (usually mortgage-backed securities) and simultaneously contracts to repurchase substantially similar, but not identical, securities on a specified future date. If the broker-dealer to whom the Fund sells the security becomes insolvent, the Fund’s right to repurchase the security may be restricted. Other risks involved in entering into mortgage dollar rolls include the risk that the value of the security may change adversely over the term of the mortgage dollar roll and that the security the Fund is required to repurchase may be worth less than the security that the Fund originally held.

Municipal Securities Risk — Municipal securities, like other fixed income securities, rise and fall in value in response to economic and market factors, primarily changes in interest rates, and actual or perceived credit quality. Rising interest rates will generally cause municipal securities to decline in value. Longer-term securities respond more sharply to interest rate changes than do shorter-term securities. A municipal security will also lose value if, due to rating downgrades or other factors, there are concerns about the issuer’s current or future ability to make principal or interest payments. State and local governments rely on taxes and, to some extent, revenues from private projects financed by municipal securities, to pay interest and principal on municipal debt. Poor statewide or local economic results or changing political sentiments may reduce tax revenues and increase the expenses of municipal issuers, making it more difficult for them to repay principal and to make interest payments on securities owned by the Fund. Actual or perceived erosion of the creditworthiness of municipal issuers may reduce the value of the Fund’s holdings. As a result, the Fund will be more susceptible to factors that adversely affect issuers of municipal obligations than a mutual fund that does not have as great a concentration in municipal obligations.

Non-Diversified Risk — The Emerging Markets Debt and Multi-Asset Real Return Funds are non-diversified, which means that they may invest in the securities of relatively few issuers. As a result, the Funds may be more susceptible to a single adverse economic or political occurrence affecting one or more of these issuers and may experience increased volatility due to

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

its investments in those securities. However, the Funds intend to satisfy the asset diversification requirements under Subchapter M of the Internal Revenue Code of 1986, as amended, for classification as a regulated investment company.

Opportunity Risk — The risk of missing out on an investment opportunity because the assets necessary to take advantage of it are tied up in other investments.

Participation Notes (P-Notes) Risk — P-Notes are participation interest notes that are issued by banks or broker-dealers and are designed to offer a return linked to a particular underlying equity, debt, currency or market. Investments in P-Notes involve the same risks associated with a direct investment in the underlying foreign companies or foreign securities markets that they seek to replicate. However, there can be no assurance that the trading price of P-Notes will equal the underlying value of the foreign companies or foreign securities markets that they seek to replicate.

Portfolio Turnover Risk — Due to its investment strategy, the Fund may buy and sell securities frequently. This may result in higher transaction costs and taxes subject to ordinary income tax rates as opposed to more favorable capital gains rates, which may affect the Fund's performance.

Prepayment Risk — The risk that, in a declining interest rate environment, fixed income securities with stated interest rates may have the principal paid earlier than expected, requiring the Fund to invest the proceeds at generally lower interest rates.

Private Placements Risk — Investment in privately placed securities may be less liquid than in publicly traded securities. Although these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Fund or less than what may be considered the fair value of such securities. Further, companies whose securities are not publicly traded may not be subject to the disclosure and other investor protection requirements that might be applicable if their securities were publicly traded.

Quantitative Investing Risk — A quantitative investment style generally involves the use of computers to implement a systematic or rules-based approach to selecting investments based on specific measurable factors. Due to the significant role technology plays in such strategies, they carry the risk of unintended or unrecognized issues or flaws in the design, coding, implementation or maintenance of the computer

programs or technology used in the development and implementation of the quantitative strategy.

Real Estate Industry Risk — Securities of companies principally engaged in the real estate industry may be subject to the risks associated with direct ownership of real estate. Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risks related to general or local economic conditions.

Redemption Risk — The Funds may experience periods of heavy redemptions that could cause the Funds to liquidate its assets at inopportune times or at a loss or depressed value, particularly during periods of declining or illiquid markets.

REITs Risk — REITs are trusts that invest primarily in commercial real estate or real estate-related loans. The Fund’s investments in REITs will be subject to the risks associated with the direct ownership of real estate. Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risks related to general or local economic conditions. Some REITs may have limited diversification and may be subject to risks inherent in financing a limited number of properties.

Repurchase Agreements and Reverse Repurchase Agreements Risk — In the event of the insolvency of the counterparty to a repurchase agreement or reverse repurchase agreement, recovery of the repurchase price owed to the Fund or, in the case of a reverse repurchase agreement, the securities sold by the Fund, may be delayed. Because reverse repurchase agreements may be considered to be the practical equivalent of borrowing funds, they constitute a form of leverage. If the Fund reinvests the proceeds of a reverse repurchase agreement at a rate lower than the cost of the agreement, entering into the agreement will lower the Fund’s yield.

Sampling Risk — The Fund may not fully replicate the benchmark index and may hold securities not included in the index. As a result, the Fund may not track the return of its benchmark index as well as it would have if the Fund purchased all of the securities in its benchmark index.

Short Sales Risk — A short sale involves the sale of a security that the Fund does not own in the expectation of purchasing the same security (or a security exchangeable therefore) at a later date at a lower price. Short sales expose the Fund to the risk that it will be required to buy the security sold short (also known as “covering” the short position) at a time when the security has appreciated in value, thus resulting in a loss to the

Fund. Investment in short sales may also cause the Fund to incur expenses related to borrowing securities. Reinvesting proceeds received from short selling may create leverage, which can amplify the effects of market volatility on the Fund’s share price. In addition, shorting a future contract may require posting only a margin that may amount to less than the notional exposure of the contract. Such a practice may exacerbate the loss in a case of adverse price action.

Small and Medium Capitalization Risk — Small and medium capitalization companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, small and medium capitalization companies may have limited product lines, markets and financial resources and may depend upon a relatively small management group. Therefore, small and medium capitalization stocks may be more volatile than those of larger companies. Small and medium capitalization stocks may be traded over-the-counter (OTC). OTC stocks may trade less frequently and in smaller volume than exchange listed stocks and may have more price volatility than that of exchange-listed stocks.

Social Investment Criteria Risk — The Screened World Equity Ex-US Fund’s portfolio is subject to certain social investment criteria, including its anti-BDS approach. As a result, the Sub-Advisers may avoid purchasing certain securities for social reasons when it is otherwise economically advantageous to purchase those securities or may sell certain securities for social reasons when it is otherwise economically advantageous to hold those securities. In general, the application of the Fund’s social investment criteria may affect the Fund’s exposure to certain industries, sectors and geographic areas, which may affect the financial performance of the Fund, positively or negatively, depending on whether these industries or sectors are in or out of favor.

Tax Risk — The Fund may gain most of its exposure to the commodities markets through its investment in the Subsidiary, which invests in commodity investments and derivative instruments. To the extent the Fund invests in such instruments directly, it will seek to restrict its income from commodity-linked derivative instruments that do not generate qualifying income, such as commodity-linked swaps, to a maximum of 10% of its gross income (when combined with its other investments that produce non-qualifying income) to comply with the qualifying income test necessary for the Fund to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. The tax treatment of certain commodity linked derivative instruments may be affected by future regulatory or legislative changes that could affect the character, timing

and/or amount of the Fund’s taxable income or gains and distributions.

Tracking Error Risk — The risk that the Fund’s performance may vary substantially from the performance of the benchmark index it tracks as a result of cash flows, Fund expenses, imperfect correlation between the Fund’s investments and the index’s components and other factors.

U.S. Government Securities Risk — Although U.S. Government securities are considered to be among the safest investments, they are still subject to the credit risk of the U.S. Government and are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, while others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency’s own resources. No assurance can be given that the U.S. Government will provide financial support to its agencies and instrumentalities if it is not obligated by law to do so.

Warrants Risk — Warrants are instruments that entitle the holder to buy an equity security at a specific price for a specific period of time. Warrants may be more speculative than other types of investments. The price of a warrant may be more volatile than the price of its underlying security, and a warrant may offer greater potential for capital appreciation as well as capital loss. A warrant ceases to have value if it is not exercised prior to its expiration date.

Please refer to each Fund’s current prospectus for additional disclosure regarding the risks associated with investing in the Funds. The foregoing is not intended to be a complete discussion of the risks associated with the investment strategies of the Funds.

11. SECURITIES LENDING

To the extent consistent with its Investment Objective and Strategies, a Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Trust’s Board of Trustees. These loans may not exceed 33 1/3% of the total asset value of the Fund including the loan collateral). No Fund will lend portfolio securities to its Adviser, sub-adviser or their affiliates unless it has applied for and received specific authority to do so from the SEC. Loans of portfolio securities will be fully collateralized by cash. Collateral will be maintained in an amount equal to at least 100% of the current market value of the loaned securities by marking-to-market daily, although the borrower will be required to deliver collateral between 102% and 105% of the market value of borrowed securities for domestic and foreign securities,

NOTES TO FINANCIAL STATEMENTS / NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Concluded)

respectively. However, due to market fluctuations during the day, the value of securities loaned on a particular day may, during the course of the day, exceed the value of collateral. On each business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity.

Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks, including the risk that the Fund may be delayed or prevented from recovering the collateral if the borrower fails to return the securities.

Cash collateral received in connection with securities lending is invested in short-term investments by the lending agent. These investments may include the SEI Liquidity Fund, LP, and the Fund bears all of the gains and losses on such investment. There is no guarantee that these investments will not lose value.

The following is a summary of securities lending agreements held by certain Funds which would be subject to offset as of May 31, 2023 ($ Thousands):

	Securities Loaned at Value		Cash Collateral Received (1)		Net Amount
Large Cap Fund	$	259	$	259	$	–
Large Cap Index Fund		3,380		3,380		–
S&P 500 Index Fund		659		659		–
Extended Market Index Fund		33,901		33,901		–
Small Cap Fund		3,205		3,205		–
Small Cap II Fund		5,007		5,007		–
Small/Mid Cap Equity Fund		17,233		17,233		–
U.S. Managed Volatility Fund		4,631		4,631		–
Global Managed Volatility Fund		33,026		33,026		–
World Equity Ex-US Fund		107,463		107,463		–
Core Fixed Income Fund		15,307		15,307		–
Emerging Markets Debt Fund		1,190		1,190		–

(1) Excess collateral received in connection with the above securities lending transactions is not shown for financial reporting purposes. See each Fund’s Schedule of Investments for the total collateral received.

12. CONCENTRATION OF SHAREHOLDERS

SEI Private Trust Company (“SPTC”) and SIMC are subsidiaries of SEI Investments Company. As of May 31, 2023, SPTC held of record the following:

Fund	% Held
Large Cap Fund		54	%
Large Cap Disciplined Equity Fund		59	%
Large Cap Index Fund		60	%
S&P 500 Index Fund		66	%
Extended Market Index Fund		64	%
Small Cap Fund		45	%
Small Cap II Fund		49	%
Small/Mid Cap Equity Fund		61	%
U.S. Equity Factor Allocation Fund		71	%
U.S. Managed Volatility Fund		46	%
Global Managed Volatility Fund		66	%
World Equity Ex-US Fund		63	%
Screened World Equity Ex-US Fund		81	%
World Select Equity Fund		100	%
Emerging Markets Equity Fund		58	%
Opportunistic Income Fund		81	%
Core Fixed Income Fund		61	%
High Yield Bond Fund		58	%
Long Duration Fund		73	%
Long Duration Credit Fund		65	%
Ultra Short Duration Bond Fund		86	%
Emerging Markets Debt Fund		60	%
Real Return Fund		67	%
Limited Duration Bond Fund		66	%
Intermediate Duration Credit Fund		66	%
Dynamic Asset Allocation Fund		68	%
Multi-Asset Real Return Fund		67	%

SPTC is not a direct service provider to the Funds. However, SPTC performs a key role in the comprehensive investment solution that SEI provides to investors. SPTC holds the vast majority of shares in the Funds as custodian for shareholders that are clients of the advisors and financial planners. SPTC maintains accounts at SEI Institutional Transfer Agency (“SITA”), and operates in an omnibus fund account environment.

13. REGULATORY MATTERS

The U.K. Financial Conduct Authority stopped compelling or inducing banks to submit certain London Inter-Bank Offered Rate (LIBOR) rates. The publication of LIBOR on a representative basis ceased for the one-week and two-month U.S. dollar LIBOR settings immediately after December 31, 2021, and ceased for the remaining U.S. dollar LIBOR settings immediately after June 30, 2023. Investments impacted by the discontinuation of LIBOR may include bank loans, derivatives, floating rate securities, and other assets or liabilities tied to LIBOR. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. The U.S. Federal Reserve, based on the recommendations of the New York Federal Reserve’s Alternative Reference Rate Committee (comprised of major derivative market participants and their regulators), has begun publishing a Secured Overnight Financing Rate (SOFR), which is intended to replace U.S. dollar LIBOR. Alternative reference rates for other currencies have also been announced or have already begun publication. In response to the discontinuation of LIBOR, investors have added fallback provisions to existing contracts for investments whose value is tied to LIBOR, with most fallback provisions requiring the adoption of SOFR as a replacement rate. On March 15, 2022, President Biden signed the Adjustable Interest Rate Act into law (the “LIBOR Act”), which, in conjunction with regulations adopted by the Federal Reserve Board, establishes SOFR as the default fallback rate for any U.S. contract without a fallback provision. In addition, on March 4, 2023, the U.K. Financial Conduct Authority announced that, starting July 1, 2023 and continuing through September 30, 2024, it will permit the publishing 1-, 3- and 6-month synthetic U.S. dollar LIBOR settings of based on SOFR to serve as a fallback for non-U.S. contracts.

14. SUBSEQUENT EVENTS

Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosure and/or adjustments were required to the financial statements as of May 31, 2023.

We have audited the accompanying statements of assets and liabilities of the Large Cap Fund, Large Cap Disciplined Equity Fund, Large Cap Index Fund, S&P 500 Index Fund, Extended Market Index Fund, Small Cap Fund, Small Cap II Fund, Small/Mid Cap Equity Fund, U.S. Equity Factor Allocation Fund, U.S. Managed Volatility Fund, Global Managed Volatility Fund, World Equity Ex-US Fund, Screened World Equity Ex-US Fund, World Select Equity Fund, Emerging Markets Equity Fund, Opportunistic Income Fund, Core Fixed Income Fund, High Yield Bond Fund, Long Duration Fund, Long Duration Credit Fund, Ultra Short Duration Bond Fund, Emerging Markets Debt Fund, Real Return Fund, Limited Duration Bond Fund and Intermediate Duration Credit Fund (twenty-five of the twenty-seven funds comprising the SEI Institutional Investments Trust (the Trust)), including the schedules of investments, as of May 31, 2023, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the five-year period then ended. We have also audited the accompanying consolidated statements of assets and liabilities of the Dynamic Asset Allocation Fund and Multi-Asset Real Return Fund (two of the twenty-seven funds comprising the Trust) (the twenty-seven funds collectively, the “Funds”), including the consolidated schedules of investments, as of May 31, 2023, and the related consolidated statements of operations for the year then ended, the consolidated statements of changes in net assets for each of the years in the two-year period then ended, the consolidated statement of cash flows for the year then ended for the Multi-Asset Real Return Fund, and the related notes (collectively, the consolidated financial statements) and the consolidated financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and consolidated financial statements and financial highlights and consolidated financial highlights present fairly, in all material respects, the financial position of the Funds as of May 31, 2023, the results of their operations for the year then ended, the changes in their net assets for each of the years in the two-year period then ended, the cash flows of the Multi-Asset Real Return Fund for the year then ended and the financial highlights and consolidated financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

These financial statements and consolidated financial statements and financial highlights and consolidated financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and consolidated financial statements and financial highlights and consolidated financial highlights 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 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 and consolidated financial statements and financial highlights and consolidated financial highlights 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 and consolidated financial statements and financial highlights and consolidated financial highlights, 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 and consolidated financial statements and financial highlights and consolidated financial highlights. Such procedures also included confirmation of securities owned as of May 31, 2023, by correspondence with the custodians, transfer agent, agent banks and brokers or by other appropriate auditing procedures when replies were not received. 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 and consolidated financial statements and financial highlights and consolidated financial highlights. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more SEI Funds investment companies since 2005.

Set forth below are the names, addresses, ages, position with the Trust, Term of Office and Length of Time Served, the principal occupations for the last five years, number of positions in fund complex overseen by trustee, and other directorships outside the fund complex of each of the persons currently serving as Trustees and Officers of the Trust. The Trust's Statement of Additional Information ("SAI") includes additional information about the Trustees and Officers. The SAI may be obtained without charge by calling 1-800-342-5734.

All mutual funds have operating expenses. As a shareholder of a fund, your investment is affected by these ongoing costs, which include (among others) costs for portfolio management, administrative services, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns.

Operating expenses such as these are deducted from the fund’s gross income and directly reduce your final investment return. These expenses are expressed as a percentage of the fund’s average net assets; this percentage is known as the fund’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period (December 1, 2022 through May 31, 2023).

● Actual fund return. This section helps you to estimate the actual expenses after fee waivers that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Fund, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Fund under “Expenses Paid During Period.”

● Hypothetical 5% return. This section helps you compare your Fund’s costs with those of other mutual funds. It assumes that the fund had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expenses Paid During Period” column with those that appear in the same charts in the shareholder reports for other funds.

NOTE: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

	Beginning Account Value 12/1/22		Ending Account Value 5/31/23		Annualized Expense Ratios			Expenses Paid During Period *
Large Cap Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	988.90		0.18	%	$	0.89
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.03		0.18	%	$	0.91
Large Cap Disciplined Equity Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,011.40		0.17	%	$	0.85
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.08		0.17	%	$	0.86
Large Cap Index Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,029.10		0.06	%	$	0.30
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.63		0.06	%	$	0.30
S&P 500 Index Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,033.00		0.05	%	$	0.25
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.68		0.05	%	$	0.25

	Beginning Account Value 12/1/22		Ending Account Value 5/31/23		Annualized Expense Ratios			Expenses Paid During Period *
Extended Market Index Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	972.90		0.06	%	$	0.30
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.63		0.06	%	$	0.30
Small Cap Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	913.40		0.44	%	$	2.10
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,022.74		0.44	%	$	2.22
Small Cap II Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	931.00		0.43	%	$	2.07
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,022.79		0.43	%	$	2.17
Small/Mid Cap Equity Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	923.90		0.41	%	$	1.97
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,022.89		0.41	%	$	2.07

	Beginning Account Value 12/1/22		Ending Account Value 5/31/23		Annualized Expense Ratios			Expenses Paid During Period *
U.S. Equity Factor Allocation Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	998.80		0.02	%	$	0.10
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.83		0.02	%	$	0.10
U.S. Managed Volatility Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	932.40		0.20	%	$	0.96
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.93		0.20	%	$	1.01
Global Managed Volatility Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	987.20		0.25	%	$	1.24
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.69		0.25	%	$	1.26
World Equity Ex-US Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,028.00		0.29	%	$	1.47
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.49		0.29	%	$	1.46
Screened World Equity Ex-US Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,016.10		0.29	%	$	1.46
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.49		0.29	%	$	1.46
World Select Equity Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,000.21		0.34	%	$	1.70
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.24		0.34	%	$	1.72
Emerging Markets Equity Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,026.40		0.60	%	$	3.03
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,021.94		0.60	%	$	3.02
Opportunistic Income Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,042.60		0.25	%	$	1.27
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.69		0.25	%	$	1.26
Core Fixed Income Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,025.10		0.12	%	$	0.61
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.33		0.12	%	$	0.61
High Yield Bond Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,027.60		0.28	%	$	1.42
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,023.54		0.28	%	$	1.41

	Beginning Account Value 12/1/22		Ending Account Value 5/31/23		Annualized Expense Ratios			Expenses Paid During Period *
Long Duration Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,022.90		0.14	%	$	0.71
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.23		0.14	%	$	0.71
Long Duration Credit Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,022.70		0.15	%	$	0.76
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.18		0.15	%	$	0.76
Ultra Short Duration Bond Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,028.40		0.12	%	$	0.61
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.33		0.12	%	$	0.61
Emerging Markets Debt Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,046.10		0.40	%	$	2.04
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,022.94		0.40	%	$	2.02
Real Return Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,013.30		0.02	%	$	0.10
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.83		0.02	%	$	0.10
Limited Duration Bond Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,021.90		0.11	%	$	0.55
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.38		0.11	%	$	0.56
Intermediate Duration Credit Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,024.10		0.15	%	$	0.76
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.18		0.15	%	$	0.76
Dynamic Asset Allocation Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	1,009.70		0.06	%	$	0.30
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,024.63		0.06	%	$	0.30
Multi-Asset Real Return Fund
Actual Fund Return
Class A Shares	$	1,000.00	$	959.60		1.15	%	$	5.62
Hypothetical 5% Return
Class A Shares	$	1,000.00	$	1,019.20		1.15	%	$	5.79

Expenses are equal to the Fund’s annualized expense ratio, including dividend expense, if applicable, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period shown).

Pursuant to Rule 22e-4 under the 1940 Act, the Trust, on behalf of the Funds, has adopted a liquidity risk management program (the “Program”) to govern the Trust’s approach to managing liquidity risk. The Program is overseen by the SIMC Liquidity Risk Oversight Committee, and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Fund.

At a meeting of the Board held on March 20-22, 2023, the Trustees received a report from the SIMC Liquidity Risk Oversight Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation. The SIMC Liquidity Risk Oversight Committee determined, and reported to the Board, that the Program remains reasonably designed to assess and manage each Fund’s liquidity risk and that the Program adequately and effectively managed each Fund’s liquidity risk during the 2022 calendar year. The SIMC Liquidity Risk Oversight Committee reported one liquidity event that occurred in January 2022 in connection with an extended market closure due to a Chinese holiday, which caused the SIIT Emerging Markets Equity Fund to exceed temporarily the 15% limit on illiquid securities. The SIIT Emerging Markets Equity Fund was under the 15% limitation on the sixth day, and there was no impact on the Fund’s ability to timely meet redemptions. There were no other reportable liquidity events during the period. The SIMC Liquidity Risk Oversight Committee further noted that additional monitoring processes, including manual reviews of upcoming market closures, have been implemented.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.

BOARD OF TRUSTEES CONSIDERATIONS IN APPROVING THE ADVISORY AND SUB-ADVISORY AGREEMENT (Unaudited)

SEI Institutional Investments Trust (the “Trust”) and SEI Investments Management Corporation (“SIMC”) have entered into an investment advisory agreement (the “Advisory Agreement”), pursuant to which SIMC provides investment advisory services to the series of the Trust (the “Funds”). Pursuant to separate sub-advisory agreements with SIMC (the “Sub-Advisory Agreements” and, together with the Advisory Agreement, the “Investment Advisory Agreements”), and under the supervision of SIMC and the Trust’s Board of Trustees (each member, a “Trustee” and, collectively, the “Trustees” or the “Board”), the sub-advisers (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) provide security selection and certain other advisory services with respect to all or a discrete portion of the assets of the Funds. The Sub-Advisers are also responsible for managing their employees who provide services to the Funds. The Sub-Advisers are selected based primarily upon the research and recommendations of SIMC, which evaluates quantitatively and qualitatively the Sub-Advisers’ skills and investment results in managing assets for specific asset classes, investment styles and strategies.

The Investment Company Act of 1940, as amended (the “1940 Act”), requires that the initial approval of a Fund’s Investment Advisory Agreements be specifically approved by the vote of a majority of the outstanding shareholders of the Funds and the vote of a majority of the Trustees who are not parties to the Investment Advisory Agreements or “interested persons” of any party (the “Independent Trustees”) cast in person (or otherwise, as consistent with applicable laws, regulations and related guidance and relief) at a meeting called for such purpose. In addition, the 1940 Act requires that the continuation or renewal of any Investment Advisory Agreement be approved at least annually (after an initial period of up to two years), which also requires the vote of a majority of the Board, including a majority of the Independent Trustees. In the case of the initial approval of a Sub-Advisory Agreement, only the approval of a majority of the Board, including a majority of the Independent Trustees, is required, pursuant to an exemptive order that has been granted to the Trust by the Securities and Exchange Commission. In connection with their consideration of such initial approvals and renewals, the Funds’ Trustees must request and evaluate, and SIMC and the Sub-Advisers are required to furnish, such information as may be reasonably necessary to evaluate the terms of the Investment Advisory Agreements. In addition, the Securities and Exchange Commission takes the position that, as part of their fiduciary duties with respect to a mutual fund’s fees, mutual fund boards are required to evaluate the material factors applicable to a decision to approve or renew an Investment Advisory Agreement.

Consistent with these responsibilities, the Board calls and holds meetings each year to consider whether to approve new and/or renew existing Investment Advisory Agreements between the Trust and SIMC and SIMC and the Sub-Advisers with respect to the Funds of the Trust. In preparation for these meetings, the Board requests and reviews a wide variety of materials provided by SIMC and the Sub-Advisers, including information about SIMC’s and the Sub-Advisers’ affiliates, personnel and operations and the services provided pursuant to the Investment Advisory Agreements. The Board also receives data from third parties. This information is provided in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to Fund operations and Fund performance. The Trustees also receive a memorandum from counsel regarding the responsibilities of Trustees in connection with their consideration of whether to approve or renew the Trust’s Investment Advisory Agreements. Finally, the Independent Trustees receive advice from independent counsel to the Independent Trustees, meet in executive sessions outside the presence of Fund management and participate in question and answer sessions with representatives of SIMC and the Sub-Advisers.

Specifically, during the course of the Trust’s fiscal year, the Board requested and received written materials from SIMC and the Sub-Advisers regarding: (i) the quality of SIMC’s and the Sub-Advisers’ investment management and other services; (ii) SIMC’s and the Sub-Advisers’ investment management personnel; (iii) SIMC’s and the Sub-Advisers’ operations and financial condition; (iv) SIMC’s and the Sub-Advisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the level of the advisory fees that SIMC charges the Funds and the level of the sub-advisory fees that SIMC pays the Sub-Advisers, compared with fees each charge to comparable accounts; (vi) the advisory fees charged by SIMC and the Funds’ overall fees and operating expenses compared with peer groups of mutual funds prepared by Broadridge, an independent provider of investment company data that was engaged to prepare an assessment of the Funds in connection with the renewal of the Investment Advisory Agreements (the “Broadridge Report”); (vii) the level of SIMC’s and the Sub-Advisers’ profitability from their Fund-related operations; (viii) SIMC’s and the Sub-Advisers’ compliance program, including a description of material compliance matters and material compliance violations; (ix) SIMC’s potential economies of scale; (x) SIMC’s and the Sub-Advisers’ policies on and compliance procedures for personal securities transactions; (xi) SIMC’s and the Sub-Advisers’ expertise and resources in domestic and/or international financial markets; and (xii) the Funds’ performance

BOARD OF TRUSTEES CONSIDERATIONS IN APPROVING THE ADVISORY AND SUB-ADVISORY AGREEMENT (Unaudited) (Concluded)

over various periods of time compared with peer groups of mutual funds prepared by Broadridge and the Funds’ benchmark indexes.

At the March 20-22, 2023 meeting of the Board, the Trustees, including a majority of the Independent Trustees, approved the renewal of the Advisory Agreement. Also, each Sub-Advisory Agreement was either initially approved or, if the Sub-Advisory Agreement was already in effect (unless operating under an initial two-year term), renewed at meetings of the Board held during the course of the Trust’s fiscal year on June 20-22, 2022, September 6-8, 2022, December 5-7, 2022 and March 20-22, 2023. In each case, the Board’s approval or renewal was based on its consideration and evaluation of the factors described above, as discussed at the meetings and at prior meetings. The following discusses some, but not all, of the factors that were considered by the Board in connection with its assessment of the Investment Advisory Agreements.

Nature, Extent and Quality of Services. The Board considered the nature, extent and quality of the services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, SIMC’s and each Sub-Adviser’s personnel, experience, track record and compliance program. Following evaluation, the Board concluded that, within the context of its full deliberations, the nature, extent and quality of services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds were sufficient to support the initial approval or renewal of the Investment Advisory Agreements. In addition to advisory services, the Board considered the nature and quality of certain administrative, transfer agency and other non-investment advisory services provided to the Funds by SIMC and/or its affiliates.

Performance. In determining whether to renew SIMC’s Advisory Agreement, the Trustees considered the Funds’ performance relative to their peer groups and appropriate indexes/benchmarks. The Trustees reviewed performance information for each Fund, noting that they receive performance reports that permit them to monitor each Fund’s performance at board meetings throughout the year. As part of this review, the Trustees considered the composition of each peer group and selection criteria. In assessing Fund performance, the Trustees considered the Broadridge Report. The Broadridge Report included metrics on risk analysis, volatility versus total return, net total return and performance consistency for the Funds and a universe of comparable funds. Based on the materials considered and discussed at the meetings, the Trustees found Fund performance satisfactory, or, where performance was materially below the benchmark and/or peer group, the Trustees were satisfied with the reasons provided to explain such performance. In connection with the approval or renewal of Sub-Advisory Agreements, the Board considered the performance of the Sub-Adviser relative to appropriate indexes/benchmarks. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds was sufficient to support renewal of SIMC’s Advisory Agreement, and the performance of each Sub-Adviser was sufficient to support the approval or renewal of the Sub-Advisory Agreement.

Fees. With respect to the Funds’ expenses under the Investment Advisory Agreements, the Trustees considered the rate of compensation called for by the Investment Advisory Agreements and the Funds’ net operating expense ratios in comparison to those of the Funds’ respective peer groups. In assessing Fund expenses, the Trustees considered the information in the Broadridge Report, which included various metrics related to fund expenses, including, but not limited to, contractual management fees at various asset levels, actual management fees (including transfer agent expenses), and actual total expenses for the Funds and a universe of comparable funds. Based on the materials considered and discussion at the meetings, the Trustees further determined that fees were either shown to be below the peer average in the comparative fee analysis, or that there was a reasonable basis for the fee level. The Trustees also considered the effects of SIMC’s and its affiliates’ voluntary waivers of management and other fees to prevent total Fund operating expenses from exceeding certain amounts, as well as SIMC’s contractual waiver of its management fee with respect to the Emerging Markets Equity Fund to prevent total Fund operating expenses from exceeding specified caps, and concluded that SIMC, through waivers, has maintained the Funds’ net operating expenses at competitive levels for its distribution channels. In determining the appropriateness of fees, the Board also took into consideration the impact of fees incurred indirectly by the Funds as a result of investments into underlying funds, including funds from which SIMC or its affiliates earn fees. The Board also took into consideration compensation earned from the Funds by SIMC or its affiliates for non-advisory services, such as administration, transfer agency, shareholder services or brokerage, and considered whether SIMC and its affiliates may have realized other benefits from their relationship with the Funds, such as any research and brokerage services received under soft dollar arrangements. When considering fees paid to Sub-Advisers, the Board took into account the fact

that the Sub-Advisers are compensated by SIMC and not by the Funds directly, and that such compensation with respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. Following evaluation, the Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported the approval or renewal of the Investment Advisory Agreements. The Board also considered whether the Sub-Advisers and their affiliates may have realized other benefits from their relationship with the Funds, such as any research and brokerage services received under soft dollar arrangements.

Profitability. With regard to profitability, the Trustees considered compensation flowing to SIMC and the Sub-Advisers and their affiliates, directly or indirectly. The Trustees considered whether the levels of compensation and profitability were reasonable. As with the fee levels, when considering the profitability of the Sub-Advisers, the Board took into account the fact that compensation with respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. In connection with the approval or renewal of each Sub-Advisory Agreement, the Board also took into consideration the impact that the fees paid to the Sub-Adviser have on SIMC’s advisory fee margin and profitability. Based on this evaluation, the Board concluded that, within the context of its full deliberations, the profitability of each of SIMC and the Sub-Advisers is reasonable and supported the approval or renewal of the Investment Advisory Agreements.

Economies of Scale. With respect to the Advisory Agreement, the Trustees considered whether any economies of scale were being realized by SIMC and its affiliates and, if so, whether the benefits of such economies of scale were passed along to the Funds’ shareholders through a graduated investment advisory fee schedule or other means, including any fee waivers by SIMC and its affiliates. The Trustees recognized that economies of scale are difficult to identify and quantify and are rarely identifiable on a fund-by-fund basis. Based on this evaluation, the Board determined that the fees were reasonable in light of the information that was provided by SIMC with respect to economies of scale.

Based on the Trustees’ deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees’ counsel, unanimously approved the approval or renewal, as applicable, of the Investment Advisory Agreements and concluded that the compensation under the Investment Advisory Agreements is fair and reasonable in light of such services and expenses and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment. In the course of its deliberations, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.

For shareholders who do not have a May 31, 2023 taxable year end, this notice is for informational purposes only. For shareholders with a May 31, 2023 taxable year end, please consult your tax adviser as to the pertinence of this notice.

For the fiscal year ended May 31, 2023, the Funds are designating long term and qualifying dividend income with regard to distributions paid during the year as follows:

The Funds intend to pass through foreign tax credit to shareholders. For the fiscal year ended May 31, 2023, the amount of foreign source income and foreign tax credit are as follows:

(1) Qualifying dividends represent dividends which qualify for the corporate dividends received deduction.

(2) The percentage in this column represents the amount of “Qualifying Dividend Income” is reflected as a percentage of “Ordinary Income Distributions”. It is the intention of each of the aforementioned funds to designate the maximum amount permitted by the law. The information reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2023. Complete information will be computed and reported in conjunction with your 2023 Form 1099-DIV.

(3) “U.S. Government Interest” represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short term capital gain and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax. With the exception of The Real Return Fund, shareholders who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income.

(4) The percentage in this column represents the amount of “Interest Related Dividend” is reflected as a percentage of ordinary income distribution. Interest related dividends are exempted from U.S. withholding tax when paid to foreign investors.

(5) The percentage in this column represents the amount of “Short Term Capital Gain Dividend” is reflected as a percentage of short term capital gain distribution that is exempted from U.S. withholding tax when paid to foreign investors.

(6) The percentage in this column represents that amount of ordinary dividend income that qualifed for 20% Business Income Deduction.

Items (A), (B) and (C) are based on the percentage of each Fund’s total distribution.

Items (D) and (E) are based on the percentage of ordinary income distributions of each Fund.

Please consult your tax adviser for proper treatment of this information. This notification should be kept with your permanent tax records.

Robert A. Nesher, Chairman

Trustees

William M. Doran

Nina Lesavoy

James M. Williams

Hubert L. Harris, Jr.

Susan C. Cote

James B. Taylor

Christine Reynolds

Thomas Melendez

Officers

Robert A. Nesher

President and Chief Executive Officer

Glenn R. Kurdziel

Assistant Controller

Stephen Panner

Chief Compliance Officer

Timothy D. Barto

Vice President, Secretary

David F. McCann

Vice President, Assistant Secretary

Katherine Mason

Vice President, Assistant Secretary

Stephen G. MacRae

Vice President

Donald Duncan

Anti-Money Laundering Compliance Officer

Privacy Officer

Investment Adviser

SEI Investments Management Corporation

Administrator

SEI Investments Global Funds Services

Distributor

SEI Investments Distribution Co.

Legal Counsel

Morgan, Lewis & Bockius LLP

Independent Registered Public Accounting Firm

KPMG LLP

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Trust and must be preceded or accompanied by a current prospectus. Shares of the Funds are not deposits or obligations of, or guaranteed or endorsed by, any bank. The shares are not federally insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other government agency. Investment in the shares involves risk, including the possible loss of principal.

For more information call

1 800 DIAL SEI

(1 800 342 5734)

The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.

(a)(1) The Registrant’s Board of Trustees has determined that the Registrant has two audit committee financial experts serving on the audit committee.

(a) (2) The audit committee financial experts are Susan C. Cote and Hubert L. Harris, Jr. Ms. Cote and Mr. Harris are independent as defined in Form N-CSR Item 3 (a) (2).

KPMG billed the Registrant aggregate fees for services rendered to the Registrant for the fiscal years 2023 and 2022 as follows:

(e)(1) The Registrant’s Audit Committee has adopted and the Board of Trustees has ratified an Audit and Non-Audit Services Pre-Approval Policy (the “Policy”), which sets forth the procedures and the conditions pursuant to which services proposed to be performed by the independent auditor of the Registrant may be pre-approved. In any instance where services require pre-approval, the Audit Committee will consider whether such services are consistent with SEC’s rules on auditor independence and whether the provision of such services would compromise the auditor’s independence.

The Policy provides that all requests or applications for proposed services to be provided by the independent auditor must be submitted to the Registrant’s Chief Financial Officer (“CFO”) and must include a detailed description of the services proposed to be rendered. The CFO will determine whether such services: (1) require specific pre-approval; (2) are included within the list of services that have received the general pre-approval of the Audit Committee pursuant to the Policy; or (3) have been previously pre-approved in connection with the independent auditor’s annual engagement letter for the applicable year or otherwise.

Requests or applications to provide services that require specific pre-approval by the Audit Committee will be submitted to the Audit Committee by the CFO. The Audit Committee has delegated specific pre-approval authority to either the Audit Committee Chair or financial experts, provided that the estimated fee for any such proposed pre-approved service does not exceed $100,000 and any pre-approval decisions are reported to the Audit Committee at its next regularly scheduled meeting.

Services that have received the general pre-approval of the Audit Committee are identified and described in the Policy. In addition, the Policy sets forth a maximum fee per engagement with respect to each identified service that has received general pre-approval. The Audit Committee will annually review and pre-approve the services that may be provided by the independent auditor during the following twelve months without obtaining specific pre-approval from the Audit Committee.

The Audit Committee will be informed by the CFO on a quarterly basis of all services rendered by the independent auditor.

All services to be provided by the independent auditor shall be provided pursuant to a signed written engagement letter with the Registrant, the investment advisor or applicable control affiliate (except that matters as to which an engagement letter would be impractical because of timing issues or because the matter is small may not be the subject of an engagement letter) that sets forth both the services to be provided by the independent auditor and the total fees (or the manner of their determination) to be paid to the independent auditor for those services.

In addition, the Audit Committee has determined to take additional measures on an annual basis to meet its responsibility to oversee the work of the independent auditor and to assure the auditor’s independence from the Registrant, such as reviewing a formal written statement from the independent auditor delineating all relationships between the independent auditor and the Registrant, and discussing with the independent auditor its methods and procedures for ensuring independence.

(e)(2) Percentage of fees billed applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows:

(g) The aggregate non-audit fees and services billed by KPMG for the fiscal years 2023 and 2022 were $334,750 and $331,000, respectively. Non-audit fees consist of SSAE No. 16 review of fund accounting and administration operations and an attestation report in accordance with Rule 17Ad-13.

(h) During the past fiscal year, Registrant’s principal accountant provided certain non-audit services to Registrant’s investment adviser or to entities controlling, controlled by, or under common control with Registrant’s investment adviser that provide ongoing services to Registrant that were not subject to pre-approval pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X. The Audit Committee of Registrant’s Board of Trustees reviewed and considered these non-audit services provided by Registrant’s principal accountant to Registrant’s affiliates, including whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence.

(a) The Schedules of Investments and Consolidated Schedules of Investments are included as part of the Report to Shareholders filed under Item 1 of this form.

(b) In accordance with Section 13(c) of the Investment Company Act of 1940 the Screened World Equity Ex-US Fund did not hold any divested securities during the fiscal year ended May 31, 2023.

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 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 (the “Board”). The Registrant has a standing Governance Committee (the “Committee”) currently consisting of the Independent Trustees. The Committee is responsible for evaluating and recommending nominees for election to the Board. Pursuant to the Committee’s Charter, adopted on June 18, 2004, as amended, the Committee will review all shareholder recommendations for nominations to fill vacancies on the Board if such recommendations are submitted in writing and addressed to the Committee at the Registrant’s office.

(a) The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”) are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

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.

Type of Contract	Number of Contracts		Expiration Date		Notional Amount (Thousands)		Value (Thousands)		Unrealized Appreciation/ (Depreciation) (Thousands)
Long Contracts
S&P 500 Index E-MINI		39		Jun-2023	$	8,071	$	8,171	$	100
S&P Mid Cap 400 Index E-MINI		2		Jun-2023		487		482		(5	)
					$	8,558	$	8,653	$	95

Security Description	Value 5/31/2022		Purchases at Cost		Proceeds from Sales			Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 5/31/2023		Income		Capital Gains
SEI Liquidity Fund, L.P.	$	—	$	35,918	$	(35,633	)	$	—	$	—	$	285	$	8	$	—
SEI Daily Income Trust, Government Fund, Institutional Class		23,692		197,010		(203,132	)		—		—		17,570		555
Totals	$	23,692	$	232,928	$	(238,765	)	$	—	$	—	$	17,855	$	563	$	—

Type of Contract	Number of Contracts		Expiration Date		Notional Amount (Thousands)		Value (Thousands)		Unrealized Appreciation/ (Depreciation) (Thousands)
Long Contracts
S&P 500 Index E-MINI		115		Jun-2023	$	23,952	$	24,095	$	143

Letter to Shareholders	1
Management’s Discussion and Analysis of Fund Performance	7
Schedules of Investments/Consolidated Schedules of Investments	58
Glossary	482
Statements of Assets and Liabilities/Consolidated Statements of Assets and Liabilities	484
Statements of Operations/Consolidated Statements of Operations	490
Statements of Changes in Net Assets/Consolidated Statements of Changes in Net Assets	496
Consolidated Statement of Cash Flows	504
Financial Highlights/Consolidated Financial Highlights	505
Notes to Financial Statements/Notes to Consolidated Financial Statements	510
Report of Independent Registered Public Accounting Firm	550
Trustees and Officers of the Trust	551
Disclosure of Fund Expenses	554
Review of Liquidity Risk Management Program	556
Board of Trustees Considerations in Approving the Advisory and Sub-Advisory Agreements	557
Notice to Shareholders	563

Shares		Description	Notional Amount (Thousands)		Value (Thousands)			Percentage of Basket

	131,385	ALPHABET INC REGISTERED SHS -A-	$	15,308	$	836		18.9	%
	109,294	AMAZON.COM INC REGISTERED SHS		12,153		1,025		15.0
	34,681	NVIDIA CORP REGISTERED SHS		10,041		3,080		12.4
	23,575	MARSH & MCLENNAN COS INC REGISTERED SHS		4,281		(198	)	5.3
	1,614	BOOKING HOLDINGS INC REGISTERED SHS		4,271		(222	)	5.3
	46,479	COLGATE-PALMOLIVE CO REGISTERED SHS		3,769		(311	)	4.7
	9,382	MCKESSON CORP REGISTERED SHS		3,670		(3	)	4.5
	3,760	O'REILLY AUTOMOTIVE INC REGISTERED SHS		3,554		(158	)	4.4
	31,851	D.R. HORTON INC REGISTERED SHS		3,497		(94	)	4.3
	49,970	PULTEGROUP INC REGISTERED SHS		3,425		(123	)	4.2
	45,776	EDISON INTERNATIONAL REGISTERED SHS		3,307		(216	)	4.1
	16,267	CADENCE DESIGN SYSTEMS INC REGISTERED SHS		3,291		465		4.1
	27,709	BUILDERS FIRSTSOURCE INC REGISTERED SHS		3,274		(61	)	4.1
	210,863	HEWLETT PACKARD ENTERPRISE CO REGISTERED SHS		3,013		27		3.7
	32,541	EXPEDIA GROUP INC REGISTERED SHS		3,001		113		3.7
	42,706	THE HARTFORD FINANCIAL SERVICES GROUP INC REGISTER		2,998		(72	)	3.7
	31,795	TERADYNE INC REGISTERED SHS		2,996		190		3.7
	100,573	US BANCORP REGISTERED SHS		2,982		25		3.7
	93,287	VICI PROPERTIES INC REGISTERED SHS		2,968		(83	)	3.7
	45,158	TEXTRON INC REGISTERED SHS		2,894		(100	)	3.6
	77,068	ALCOA CORP REGISTERED SHS		2,851		(406	)	3.5
	31,775	MEDTRONIC PLC REGISTERED SHS		2,838		(208	)	3.5
	18,783	CHENIERE ENERGY INC REGISTERED SHS		2,814		(188	)	3.5
	41,803	MICRON TECHNOLOGY INC REGISTERED SHS		2,702		149		3.3
	113,081	PURE STORAGE INC REGISTERED SHS -A-		2,671		585		3.3
	277,258	KEYCORP REGISTERED SHS		2,666		(76	)	3.3
	24,854	SIMON PROPERTY GROUP INC REGISTERED SHS		2,658		(44	)	3.3
	22,174	MERCK & CO INC REGISTERED SHS		2,580		(132	)	3.2
	111,081	DROPBOX INC REGISTERED SHS -A-		2,512		46		3.1
	132,923	NEWS CORP REGISTERED SHS -A-		2,495		(61	)	3.1
	67,382	PBF ENERGY INC REGISTERED SHS -A-		2,448		32		3.0
	54,661	US FOODS HOLDING CORP REGISTERED SHS		2,196		(22	)	2.7
	7,181	ALIGN TECHNOLOGY INC REGISTERED SHS		2,135		(105	)	2.6
	78,571	HUNTSMAN CORP REGISTERED SHS		1,988		(122	)	2.5
	8,840	ESTEE LAUDER COMPANIES INC REGISTERED SHS -A-		1,779		(152	)	2.2
	10,209	CLOROX CO REGISTERED SHS		1,648		(33	)	2.0
	4,524	S&P GLOBAL INC REGISTERED SHS		1,635		27		2.0
	3,483	CINTAS CORP REGISTERED SHS		1,634		11		2.0
	23,563	COCA-COLA CO REGISTERED SHS		1,504		(98	)	1.9
	16,858	APELLIS PHARMACEUTICALS INC REGISTERED SHS		1,485		(38	)	1.8
	10,156	CROWDSTRIKE HOLDINGS INC REGISTERED SHS -A-		1,377		250		1.7
	6,639	ALNYLAM PHARMACEUTICALS INC REGISTERED SHS		1,369		(141	)	1.7
	25,700	MASCO CORP REGISTERED SHS		1,346		(104	)	1.7
	20,106	INCYTE CORP REGISTERED SHS		1,331		(93	)	1.6
	11,837	AIRBNB INC REGISTERED SHS -A-		1,252		47		1.6
	12,795	ETSY INC REGISTERED SHS		1,252		(215	)	1.5
	9,474	APTARGROUP INC REGISTERED SHS		1,142		(77	)	1.4
	12,339	TARGA RESOURCES CORP REGISTERED SHS		873		(34	)	1.1
	7,077	ZSCALER INC REGISTERED SHS		855		104		1.1

Security Description	Value 5/31/2022		Purchases at Cost		Proceeds from Sales			Realized Gain/(Loss)		Change in Unrealized Appreciation/(Depreciation)		Value 5/31/2023		Income		Capital Gains
SEI Liquidity Fund, LP	$	—	$	13,146	($	13,146	)	$	—	$	—	$	—	$	3	$	—
SEI Daily Income Trust, Government Fund, Institutional Class		56,710		467,896		(473,205	)		—		—		51,401		1,859		—
Totals	$	56,710	$	481,042	($	486,351	)	$	—	$	—	$	51,401	$	1,862	$	—

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
BNP Paribas		06/26/23		DKK	55,615		USD	8,071	$	94
BNP Paribas		06/26/23		NOK	136,080		USD	12,451		220
Brown Brothers Harriman		06/26/23		USD	73		NZD	121		(2	)
Brown Brothers Harriman		06/26/23		AUD	99		USD	64		—
Brown Brothers Harriman		06/26/23		USD	39		AUD	61		—
Brown Brothers Harriman		06/26/23		USD	71		AUD	110		—
Brown Brothers Harriman		06/26/23		NZD	158		USD	96		1
Brown Brothers Harriman		06/26/23		SGD	211		USD	156		—
Brown Brothers Harriman		06/26/23		USD	101		DKK	701		—
Brown Brothers Harriman		06/26/23		USD	192		DKK	1,331		(1	)
Brown Brothers Harriman		06/26/23		GBP	257		USD	319		1
Brown Brothers Harriman		06/26/23		GBP	42		USD	52		—
Brown Brothers Harriman		06/26/23		USD	193		SEK	2,100		—
Brown Brothers Harriman		06/26/23		USD	194		SEK	2,099		(1	)
Brown Brothers Harriman		06/26/23		CHF	405		USD	449		5
Brown Brothers Harriman		06/26/23		USD	245		NOK	2,728		—
Brown Brothers Harriman		06/26/23		USD	236		NOK	2,594		(2	)
Brown Brothers Harriman		06/26/23		CAD	68		USD	50		—
Brown Brothers Harriman		06/26/23		CAD	426		USD	313		(1	)
Brown Brothers Harriman		06/26/23		DKK	620		USD	89		1
Brown Brothers Harriman		06/26/23		USD	572		SGD	774		—
Brown Brothers Harriman		06/26/23		USD	56		SGD	76		—
Brown Brothers Harriman		06/26/23		USD	672		HKD	5,264		—
Brown Brothers Harriman		06/26/23		USD	421		HKD	3,292		—
Brown Brothers Harriman		06/26/23		USD	1,219		CAD	1,658		2
Brown Brothers Harriman		06/26/23		EUR	1,335		USD	1,434		8
Brown Brothers Harriman		06/26/23		USD	396		CHF	361		—
Brown Brothers Harriman		06/26/23		USD	1,175		CHF	1,060		(12	)
Brown Brothers Harriman		06/26/23		HKD	2,063		USD	264		—
Brown Brothers Harriman		06/26/23		USD	1,431		GBP	1,159		6
Brown Brothers Harriman		06/26/23		USD	989		GBP	797		—
Brown Brothers Harriman		06/26/23		SEK	3,087		USD	285		1
Brown Brothers Harriman		06/26/23		NOK	504		USD	46		—
Brown Brothers Harriman		06/26/23		NOK	2,950		USD	264		(1	)
Brown Brothers Harriman		06/26/23		USD	3,249		JPY	452,176		2
Brown Brothers Harriman		06/26/23		USD	501		JPY	69,358		(3	)
Brown Brothers Harriman		06/26/23		USD	1,585		EUR	1,484		—
Brown Brothers Harriman		06/26/23		USD	3,043		EUR	2,830		(21	)
Brown Brothers Harriman		06/26/23		JPY	163,922		USD	1,174		(4	)
Standard Chartered		06/26/23		AUD	5,830		USD	3,835		59
Standard Chartered		06/26/23		GBP	53,024		USD	65,772		24
Standard Chartered		06/26/23		HKD	179,932		USD	22,992		(9	)
Westpac Banking		06/26/23		NZD	4,937		USD	3,027		70
Westpac Banking		06/26/23		CHF	42,875		USD	47,646		590
Westpac Banking		06/26/23		EUR	118,253		USD	127,638		1,379
									$	3,572

Total Return Swap
Counterparty	Reference Entity/ Obligation	Fund Pays		Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
Morgan Stanley	Custom Basket of International Equity Securities		CUSTOM FINANCING		BASKET RETURN		Annually		2/1/2024		USD		9,557	$	(916	)	$	–	$	(916	)
														$	(916	)	$	–	$	(916	)

Description	Number of Contracts		Notional Amount (Thousands)		Exercise Price		Expiration Date		Value (Thousands)
PURCHASED OPTION — 0.0%
Put Option
June 2023, JPY Future Option		4,533,285	$	614,260	$	135.50		6/1/2023	$	17



Total Purchased Option			$	614,260					$	17

Security Description		Value 5/31/2022				Purchases at Cost				Proceeds from Sales				Realized Gain/(Loss)				Change in Unrealized Appreciation/(Depreciation)				Value 5/31/2023				Income				Capital Gains
SEI Daily Income Trust, Government Fund, Institution Class		$	23,698			$	162,923			($	171,276	)		$	—			$	—			$	15,345			$	563			$	—

Credit Default Swap - Sell Protection
Reference Entity/ Obligation	Receive Rate		Payment Frequency		Termination Date		Notional Amount (Thousands)		Value (Thousands)		Upfront Payments/ Receipts (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
CDS-CDX.NA.IG.4006/28@100		1.00%		Quarterly		6/20/2028	$	352,793	$	3,994	$	2,696	$	1,298

Interest Rate Swaps
Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)			Net Unrealized Appreciation (Depreciation) (Thousands)
SOFR		4.10%		Annually		03/10/2026		USD		111,141	$	1,358		$	1,325		$	33
2.50%		SOFR		Annually		04/21/2052		USD		9,190		1,164			15			1,149
3.15%		SOFR		Annually		05/15/2048		USD		5,074		91			–			91
2.60%		SOFR		Annually		02/15/2048		USD		10,104		1,121			675			446
2.62%		SOFR		Annually		02/15/2048		USD		2,934		316			3			313
3.05%		SOFR		Annually		02/15/2048		USD		6,309		224			133			91
2.51%		SOFR		Annually		02/15/2048		USD		3,780		476			24			452
1.63%		SOFR		Annually		05/15/2047		USD		15,520		4,192			643			3,549
3.00%		SOFR		Annually		09/20/2053		USD		6,614		149			–			149
1.52%		SOFR		Annually		02/15/2047		USD		20,626		5,921			(23	)		5,944
3.40%		SOFR		Annually		03/10/2034		USD		24,721		(390	)		(442	)		52
2.00%		SOFR		Annually		03/18/2032		USD		10,958		1,143			62			1,081
SOFR		3.30%		Annually		12/31/2029		USD		13,260		(100	)		(1	)		(99	)
3.85%		SOFR		Annually		06/30/2029		USD		2,310		(49	)		3			(52	)
3.27%		SOFR		Annually		04/30/2029		USD		39,764		414			(538	)		952
2.85%		SOFR		Annually		02/15/2029		USD		17,852		576			(34	)		610
SOFR		3.45%		Annually		11/30/2027		USD		25,168		(13	)		(3	)		(10	)
1.72875%		3-MONTH USD - LIBOR		Annually		02/15/2047		USD		9,870		2,498			116			2,382
3.00%		SOFR		Annually		09/20/2053		USD		6,386		144			–			144
											$	19,235		$	1,958		$	17,277

	Investments in Corporate Obligations			Investments in Loan Participations			Investments in Asset-Backed Securities			Investments in Common Stock			Investments in Preferred Stock			Investments in Convertible Bonds			Investments in Warrants
Balance as of May 31, 2022	$	959		$	26,081		$	210,619		$	17,044		$	10,965		$	2,123		$	2,109
Accrued discounts/premiums		10			4			(606	)		—			—			5			—
Realized gain/(loss)		—			(192	)		9,312			(1,998	)		509			—			—
Change in unrealized appreciation/(depreciation)		(481	)		225			(5,489	)		1,687			(368	)		(5	)		(266	)
Purchases		—			2,900			7			2,377			703			2,759			—
Sales		—			(5,518	)		(50,510	)		(3,554	)		(2,449	)		—			—
Net transfer into Level 3		2,801			9,443			—			5,573			—			—			—
Net transfer out of Level 3		—			(14,532	)		—			(728	)		—			—			(803	)
Ending Balance as of May 31, 2023⁽¹⁾	$	3,289		$	18,411		$	163,333		$	20,401		$	9,360		$	4,882		$	1,040
Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date	$	(618	)	$	(36	)	$	(7,734	)	$	(6,570	)	$	(109	)	$	(5	)	$	(283	)

Description	Number of Shares/Face Amount ($ Thousands)/Number of Warrants		Acquisition Date		Cost ($ Thousands)		Market Value ($ Thousands)
Common Stock
Guitar Center		24,502	1/8/2021		$	3,105	$	4,601
Gymboree Corp		18,542		10/2/2017		232		–
Gymboree Holding Corp		52,848		10/2/2017		958		–
Neiman Marcus Group		1,051		10/2/2020		–		184
Parker Drilling Co		143,734		3/26/2019		1,817		1,617
Corporate Obligations
Aventine (Escrow Security)	$	2,600		4/21/2010		–		–
Envision Healthcare		3,150		10/1/2018		2,654		16
Northwest Acquisitions ULC		3,290		10/1/2019		2,311		–
Six Flags Theme Parks		136		4/16/2020		136		137
Loan Participations
Mavenir Systems, Inc., Initial Term Loan, 1st Lien		4,328		5/29/2020		3,729		3,502
Preferred Stock
Guitar Center Inc		782		1/8/2021		73		73
Warrants
Guitar Center Tranche I		5,960		1/8/2021		328		542
Guitar Center Tranche II		6,486		1/8/2021		233		322
Guitar Center Tranche III		526		1/8/2021		19		26
					$	15,595	$	11,020

Security Description		Value 5/31/22				Purchases at Cost				Proceeds from Sales				Realized Gain/(Loss)				Change in Unrealized Appreciation/(Depreciation)				Value 5/31/2023				Income				Capital Gains
SEI Daily Income Trust, Government Fund, Institutional Class		$	4,469			$	329,840			($	329,548	)		$	—			$	—			$	4,761			$	210			$	—

Credit Default Swap - Buy Protection
Reference Entity/ Obligation	Pay Rate		Payment Frequency		Termination Date		Notional Amount (Thousands)		Value (Thousands)		Upfront Payments/ Receipts (Thousands)		Net Unrealized Depreciation (Thousands)
CDX.EM.39.V1		1.00%		Quarterly		06/20/2028	$	30,544	$	1,913	$	1,945	$	(32	)

Description	Face Amount ($ Thousands)		Acquisition Date		Cost ($ Thousands)		Market Value ($ Thousands)
Global Bonds
Neon Capital MTN	$	285,987		7/25/2019		2,392	$	1,822
Petroleos de Venezuela		3,202		10/5/2017		1,077		74
Petroleos de Venezuela		16,821		9/15/2016		5,421		362
Petroleos de Venezuela		7,900		9/23/2014		4,665		170
Petroleos de Venezuela		1,777		3/30/2016		684		38
Petroleos de Venezuela		1,620		2/10/2017		607		35
Petroleos de Venezuela		7,825		2/9/2017		2,409		156
Venezuela Government International Bond		4,151		11/8/2017		1,070		343
Vnesheconombank Via VEB Finance		240		9/28/2011		246		13
					$	18,571	$	3,013

Total Return Swaps
Counterparty	Reference Entity/ Obligation			Fund Pays		Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)		Net Unrealized Depreciation (Thousands)
Goldman Sachs^		+BCOMGCTR/0.065	%		3 MONTH TREASURY BILL RATE + 6.5 BPS		INDEX RETURN		Quarterly		08/21/2023		USD		88,808	$	(821	)	$	–	$	(821	)
Goldman Sachs^		PAYB +BCOMTR/0.075	%		3 MONTH TREASURY BILL RATE + 7.5 BPS		INDEX RETURN		Quarterly		06/10/2023		USD		122,463		(7,439	)		–		(7,439	)
																$	(8,260	)	$	–	$	(8,260	)

Credit Default Swaps - Buy Protection
Reference Entity/ Obligation	Pay Rate		Payment Frequency		Termination Date		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)			Net Unrealized Appreciation (Depreciation) (Thousands)
CDX.NA.HY.40		1.00%		Quarterly		06/20/2028	$	36,970	$	(586	)	$	(245	)	$	(341	)
CMBX.BBB.577807		3.00%		Monthly		05/11/2063		763		142			197			(55	)
									$	(444	)	$	(48	)	$	(396	)

Credit Default Swaps - Sell Protection
Counterparty	Reference Entity/ Obligation		Receive Rate		Payment Frequency		Termination Date		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)			Net Unrealized Appreciation (Depreciation) (Thousands)
Credit Suisse		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063	$	93	$	(19	)	$	(6	)	$	(13	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		124		(26	)		(7	)		(19	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		323		(66	)		(21	)		(45	)
Deutsche Bank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		17		(3	)		(1	)		(2	)
Deutsche Bank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		98		(20	)		(11	)		(9	)
Citibank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		17		(3	)		(2	)		(1	)
Citibank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		2		(1	)		—			(1	)
Citibank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		9		(2	)		(1	)		(1	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		16		(3	)		(1	)		(2	)
Credit Suisse		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		139		(29	)		(19	)		(10	)
Deutsche Bank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		16		(3	)		(2	)		(1	)
Deutsche Bank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		57		(12	)		(6	)		(6	)
Deutsche Bank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		57		(12	)		(6	)		(6	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		95		(20	)		(8	)		(12	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		8		(2	)		(1	)		(1	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		16		(3	)		(1	)		(2	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Quarterly		05/11/2063		31		(7	)		(3	)		(4	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		165		(34	)		(21	)		(13	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		109		(23	)		(11	)		(12	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		9		(2	)		(1	)		(1	)
Citibank		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		12		(3	)		(2	)		(1	)
Goldman Sachs		CMBX.NA.BBB.6 Index		3.00%		Monthly		05/11/2063		16		(3	)		(1	)		(2	)
Citibank		CMBX.NA.BBB-.6 Index		3.00%		Monthly		05/11/2063		37		(8	)		(4	)		(4	)
Citibank		CMBX.NA.BBB-.6 Index		3.00%		Quarterly		05/11/2063		17		(3	)		(2	)		(1	)
Citibank		CMBX.NA.BBB-.6 Index		3.00%		Quarterly		05/11/2063		26		(5	)		(3	)		(2	)
Credit Suisse		CMBX.NA.BBB-.6 Index		3.00%		Monthly		05/11/2063		2		(1	)		—			(1	)
Credit Suisse		CMBX.NA.BBB-.6 Index		3.00%		Monthly		05/11/2063		62		(13	)		(7	)		(6	)
Citibank		CMBX.NA.BBB-.6 Index		3.00%		Monthly		05/11/2063		18		(4	)		(2	)		(2	)
Citibank		CMBX.NA.BBB-.6 Index		3.00%		Monthly		05/11/2063		4		(1	)		—			(1	)
Goldman Sachs		CMBX.NA.BBB-.6 Index		3.00%		Monthly		05/11/2063		11		(2	)		(1	)		(1	)

Securities Sold Short
Common Stock	(111,759	)	–	–	(111,759	)
Total Securities Sold Short	(111,759	)	–	–	(111,759	)

	Large Cap Fund			Large Cap Disciplined Equity Fund
Assets:
Investments, at value ^†	$	688,257	*	$	1,150,547
Affiliated investments, at value ^†^†		17,855			51,401
Cash and cash equivalents		–			66,000
Cash pledged as collateral on futures contracts		480			1,467
Receivable for fund shares sold		74			6
Receivable for investment securities sold		17,039			42,818
Dividends and interest receivable		1,439			1,996
Foreign tax reclaim receivable		69			1
Swap contracts, at value ^†^†^†^†		–			3,112
Prepaid expenses		7			12
Total Assets		725,220			1,317,360
Liabilities:
Payable upon return on securities loaned		285			–
Payable for investment securities purchased		19,842			37,762
Payable for fund shares redeemed		429			3,194
Payable for variation margin on futures contracts		58			161
Payable to custodian		–			–
Investment advisory fees payable		96			164
Trustees fees payable		4			7
CCO fees payable		2			4
Accrued expense payable		27			40
Total Liabilities		20,743			41,332
Net Assets	$	704,477		$	1,276,028
^† Cost of investments	$	523,240		$	951,675
^†^† Cost of affiliated investments		17,855			51,401
^†^†^†^† Cost (Premiums received)		–			–
* Includes market value of securities on loan		259			–
Net Assets:
Paid-in Capital — (unlimited authorization — no par value)	$	525,774		$	1,110,915
Total distributable earnings (loss)		178,703			165,113
Net Assets	$	704,477		$	1,276,028
Net Asset Value, Offering and Redemption Price Per Share — Class A	$	13.18		$	9.18
		($704,477,164 ÷ 53,447,761 shares	)		($1,276,027,585 ÷ 139,051,501 shares	)

	Large Cap Fund			Large Cap Disciplined Equity Fund
Investment Income:
Dividends	$	15,139		$	20,408
Income from affiliated investments		555			1,859
Interest income		15			28
Security lending income — net⁽¹⁾		8			3
Less: foreign taxes withheld		(67	)		(14	)
Total Investment Income		15,650			22,284
Expenses:
Investment advisory fees		2,885			5,139
Administration fees		361			642
Trustees' fees		18			32
Chief compliance officer fees		5			9
Pricing fees		40			65
Professional fees		33			56
Custodian/wire agent fees		30			54
Registration fees		12			20
Printing fees		7			13
Licensing fees		–			–
Other expenses		13			24
Total Expenses		3,404			6,054
Less:
Waiver of investment advisory fees		(1,731	)		(3,212	)
Waiver of administration fees		(361	)		(642	)
Net Expenses		1,312			2,200
Net Investment Income		14,338			20,084
Net Realized Gain (Loss) on:
Investments		37,923			(22,774	)
Affiliated investments		–			–
Futures contracts		424			315
Swap contracts		–			7,806
Net Realized Gain (Loss)		38,347			(14,653	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(58,932	)		4,627
Affiliated investments		–			–
Futures contracts		(149	)		508
Swap contracts		–			2,882
Foreign currency translation of other assets and liabilities denominated in foreign currencies		–			(2	)
Net Change in Unrealized Appreciation (Depreciation)		(59,081	)		8,015
Net Realized and Unrealized Gain (Loss)		(20,734	)		(6,638	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(6,396	)	$	13,446

	Large Cap Fund						Large Cap Disciplined Equity Fund
	06/01/22 to 05/31/23			06/01/21 to 05/31/22			06/01/22 to 05/31/23			06/01/21 to 05/31/22
Operations:
Net investment income	$	14,338		$	15,409		$	20,084		$	20,337
Net realized gain (loss)		38,347			125,459			(14,653	)		253,733
Net change in unrealized appreciation (depreciation)		(59,081	)		(145,335	)		8,015			(255,392	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(6,396	)		(4,467	)		13,446			18,678
Distributions:
Class A		(85,804	)		(183,048	)		(66,288	)		(430,585	)
Total Distributions		(85,804	)		(183,048	)		(66,288	)		(430,585	)
Capital Share Transactions:⁽¹⁾
Class A:
Proceeds from shares issued		43,411			54,372			180,087			182,166
Reinvestment of dividends & distributions		79,613			178,768			63,738			418,999
Cost of shares redeemed		(100,193	)		(369,099	)		(304,112	)		(468,905	)
Net Increase (Decrease) from Class A Transactions		22,831			(135,959	)		(60,287	)		132,260
Net Decrease in Net Assets		(69,369	)		(323,474	)		(113,129	)		(279,647	)
Net Assets
Beginning of Year		773,846			1,097,320			1,389,157			1,668,804
End of Year	$	704,477		$	773,846		$	1,276,028		$	1,389,157

	Multi-Asset Real Return Fund
Cash Flows from Operating Activities:
Net Decrease in Net Assets Resulting from Operations	$	(48,923	)
Adjustments to Reconcile Net Increase in Net Assets Resulting from Operations to Net Cash Used by Operating Activities:
Purchase of investment securities		(1,384,702	)
Proceeds from disposition of investment securities		1,340,658
Purchased options/swaptions and purchases to cover written options/swaptions		(641	)
Proceeds from sale of options/swaptions and expired options/swaptions		475
Purchases to cover securities sold short		(93,032	)
Proceeds from securities sold short		92,221
Amortization (accretion of market discount)		(21,680	)
Net Realized (Gain) Loss on:
Investments		26,327
Options/Swaptions		855
Securities sold short		15,821
Net Change in Unrealized (Appreciation) Depreciation on:
Investments		14,541
Options/Swaptions		75
Securities sold short		(9,202	)
Changes in Assets:
Cash pledged as collateral on futures contracts		(560	)
Cash pledged as collateral on swap contracts		2,153
Dividends and interest receivable		(237	)
Receivable for investment securities sold		92
Receivable for variation margin		548
Unrealized gain on forward foreign currency contracts		169
Swap contracts, at value		249
Deposits from counterparty		568
Prepaid expenses		(1	)
Changes in Liabilities:
Payable for investment securities purchased		(14,170	)
Payable for variation margin		(762	)
Swap contracts, at value		(1,469	)
Unrealized loss on forward foreign currency contracts		(272	)
Investment advisory fees payable		5
Due to Counterparty		2,417
Accrued expense payable		414
Net Cash Used by Operating Activities		(78,063	)
Cash Flows from Financing Activities
Reverse repurchase agreements		5,295
Proceeds from shares issued		249,098
Distributions from net investment income		(10,501	)
Cost of shares redeemed		(176,713	)
Net Cash Provided by Financing Activities		67,179
Net Change in Cash and Foreign Currency		(10,884	)
Cash and Foreign Currency at Beginning of Year	$	131,121
Cash and Foreign Currency at End of Year	$	120,237
Supplemental Disclosure of Cash Flow Information
Interest paid	$	4,285

	Net Asset Value, Beginning of Period		Net Investment Income⁽¹⁾		Net Realized and Unrealized Gains (Losses) on Investments			Total from Operations			Distributions from Net Investment Income			Distributions from Net Realized Capital Gains			Total Distributions			Net Asset Value, End of Period		Total Return^†			Net Assets End of Period ($ Thousands)		Ratio of Net Expenses to Average Net Assets^*			Ratio of Expenses to Average Net Assets (Excluding Waivers)			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover Rate^†
Large Cap Fund
Class A
2023	$	15.07	$	0.27	$	(0.45	)	$	(0.18	)	$	(0.27	)	$	(1.44	)	$	(1.71	)	$	13.18		(0.74	)%	$	704,477		0.18	%		0.47	%		1.99	%		88	%
2022		18.68		0.27		(0.36	)		(0.09	)		(0.27	)		(3.25	)		(3.52	)		15.07		(1.96	)		773,846		0.18			0.47			1.56			76
2021		13.95		0.27		5.57			5.84			(0.29	)		(0.82	)		(1.11	)		18.68		43.39			1,097,320		0.18			0.47			1.70			78
2020		14.73		0.30		0.66			0.96			(0.29	)		(1.45	)		(1.74	)		13.95		5.78			941,086		0.18			0.47			2.02			76
2019		18.93		0.32		(0.28	)		0.04			(0.31	)		(3.93	)		(4.24	)		14.73		1.49			1,090,130		0.19			0.47			1.87			102
Large Cap Disciplined Equity Fund
Class A
2023	$	9.58	$	0.14	$	(0.05	)	$	0.09		$	(0.18	)	$	(0.31	)	$	(0.49	)	$	9.18		1.27	%	$	1,276,028		0.17	%		0.47	%		1.56	%		118	%
2022		12.65		0.15		0.21			0.36			(0.31	)		(3.12	)		(3.43	)		9.58		0.39			1,389,157		0.17			0.47			1.28			146
2021		9.71		0.17		3.73			3.90			(0.21	)		(0.75	)		(0.96	)		12.65		42.00			1,668,804		0.17			0.47			1.51			142
2020		10.27		0.19		0.65			0.84			(0.26	)		(1.14	)		(1.40	)		9.71		7.23			1,380,069		0.18			0.47			1.83			139
2019		13.58		0.22		(0.39	)		(0.17	)		(0.22	)		(2.92	)		(3.14	)		10.27		(0.14	)		2,003,051		0.19			0.47			1.80			125
Large Cap Index Fund
Class A
2023	$	201.38	$	2.94	$	(0.53	)	$	2.41		$	(2.94	)	$	(24.14	)	$	(27.08	)	$	176.71		2.39	%	$	1,659,371		0.05	%		0.14	%		1.62	%		11	%
2022		226.91		3.06		(6.83	)		(3.77	)		(3.13	)		(18.63	)		(21.76	)		201.38		(2.74	)		1,919,037		0.04			0.13			1.34			18
2021		163.61		2.89		65.82			68.71			(2.95	)		(2.46	)		(5.41	)		226.91		42.57			2,297,701		0.03			0.12			1.47			20
2020		173.92		3.26		19.13			22.39			(3.34	)		(29.36	)		(32.70	)		163.61		12.48			1,750,464		0.04			0.13			1.87			32
2019		200.41		4.18		0.70			4.88			(4.27	)		(27.10	)		(31.37	)		173.92		3.43			1,636,037		0.04			0.13			2.19			16
S&P 500 Index Fund
Class A
2023	$	20.36	$	0.31	$	0.11		$	0.42		$	(0.30	)	$	(1.38	)	$	(1.68	)	$	19.10		2.82	%	$	4,393,830		0.06	%		0.13	%		1.66	%		6	%
2022		21.82		0.30		(0.22	)		0.08			(0.30	)		(1.24	)		(1.54	)		20.36		(0.33	)		5,106,116		0.05			0.12			1.33			11
2021		16.13		0.29		6.09			6.38			(0.29	)		(0.40	)		(0.69	)		21.82		40.24			6,251,980		0.04			0.11			1.51			19
2020		14.78		0.31		1.57			1.88			(0.31	)		(0.22	)		(0.53	)		16.13		12.77			4,277,620		0.05			0.12			1.94			34
2019		14.92		0.34		0.19			0.53			(0.34	)		(0.33	)		(0.67	)		14.78		3.77			3,975,682		0.05			0.12			2.23			21
Extended Market Index Fund
Class A
2023	$	15.51	$	0.20	$	(0.70	)	$	(0.50	)	$	(0.20	)	$	(0.42	)	$	(0.62	)	$	14.39		(3.11	)%	$	1,195,076		0.06	%		0.20	%		1.37	%		34	%
2022		22.89		0.19		(3.90	)		(3.71	)		(0.21	)		(3.46	)		(3.67	)		15.51		(18.88	)		1,453,682		0.05			0.19			0.96			49
2021		14.47		0.18		8.81			8.99			(0.18	)		(0.39	)		(0.57	)		22.89		62.79			1,755,160		0.05			0.19			0.95			58
2020		14.52		0.20		0.39			0.59			(0.20	)		(0.44	)		(0.64	)		14.47		3.88			1,176,664		0.06			0.20			1.35			56
2019		15.94		0.23		(0.80	)		(0.57	)		(0.23	)		(0.62	)		(0.85	)		14.52		(3.29	)		937,836		0.06			0.20			1.51			46
Small Cap Fund
Class A
2023	$	12.59	$	0.15	$	(0.97	)	$	(0.82	)	$	(0.16	)	$	(0.78	)	$	(0.94	)	$	10.83		(6.73	)%	$	211,460		0.44	%		0.72	%		1.27	%		114	%
2022		18.54		0.15		(1.46	)		(1.31	)		(0.16	)		(4.48	)		(4.64	)		12.59		(9.62	)		227,791		0.44			0.72			0.94			120
2021		11.91		0.15		7.22			7.37			(0.14	)		(0.60	)		(0.74	)		18.54		63.38			287,220		0.44			0.72			0.98			122
2020		13.66		0.16		(0.99	)		(0.83	)		(0.19	)		(0.73	)		(0.92	)		11.91		(7.04	)		228,900		0.45			0.72			1.16			127
2019		18.76		0.18		(1.81	)		(1.63	)		(0.16	)		(3.31	)		(3.47	)		13.66		(7.71	)		267,012		0.44			0.72			1.09			109

*	Includes Fees Paid Indirectly, if applicable. There was no impact to the expense ratios. See Note 6 in Notes to Financial Statements.
^†	Returns and portfolio turnover rates are for the period indicated and have not been annualized. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.
(1)	Per share calculated using average shares.

Core Fixed Income Fund Maximum Potential Amount of Future Payments by Contract Term
		0-6 Months		6-12 Months		1-5 Years		5-10 Years		>10 Years	Total
Current credit spread* on underlying (in basis points)
0-100	$	—	$	—	$	—	$	352,793,000	$	—	$	352,793,000
Greater than 100		—		—		—		—		—		—
Total	$	—	$	—	$	—	$	352,793,000	$	—	$	352,793,000

Multi-Asset Real Return Fund Maximum Potential Amount of Future Payments by Contract Term
		0-6 Months		6-12 Months		1-5 Years		5-10 Years		>10 Years	Total
Current credit spread* on underlying (in basis points)
0-400	$	—	$	—	$	—	$	—	$	—	$	—
Greater than 400		—		—		—		—		1,635,311		1,635,311
Total	$	—	$	—	$	—	$	—	$	1,635,311	$	1,635,311

	Asset Derivatives				Liability Derivatives
	Statements of Assets and Liabilities/Consolidated Statement of Assets and Liabilities Location	Fair Value			Statements of Assets and Liabilities/Consolidated Statement of Assets and Liabilities Location	Fair Value
Large Cap Fund
Equity contracts	Unrealized appreciation on futures contracts	$	100	*	Unrealized depreciation on futures contracts	$	5	*
Total derivatives not accounted for as hedging instruments		$	100			$	5

Derivatives Not Accounted for as Hedging Instruments	Purchased Options and Swaptions		Written Options and Swaptions		Futures			Forward Currency Contracts		Swaps		Total
Large Cap Fund	$		$		$			$		$		$
Equity contracts		—		—		424			—		—		424
Total	$	—	$	—	$	424		$	—	$	—	$	424

Large Cap Disciplined Equity Fund	$		$		$			$		$		$
Equity contracts		—		—		315			—		7,806		8,121
Total	$	—	$	—	$	315		$	—	$	7,806	$	8,121

Large Cap Index Fund	$		$		$			$		$		$
Equity contracts		—		—		(405	)		—		—		(405	)
Total	$	—	$	—	$	(405	)	$	—	$	—	$	(405	)

S&P 500 Index Fund	$		$		$			$		$		$
Equity contracts		—		—		(3,153	)		—		—		(3,153	)
Total	$	—	$	—	$	(3,153	)	$	—	$	—	$	(3,153	)

	Financial Derivative Assets								Financial Derivative Liabilities
Large Cap Disciplined Equity Fund	Forward Foreign Currency Contracts		Purchased Options and Swaptions		Swap Agreements		Total Over the Counter		Forward Foreign Currency Contracts		Written Options and Swaptions		Swap Agreements		Reverse Repurchase Agreements		Total Over the Counter		Net Market Value of OTC Derivatives		Collateral (Received) Pledged⁽¹⁾		Net Exposures⁽²⁾
Bank of America Merrill Lynch	$	—	$	—	$	3,112	$	3,112	$	—	$	—	$	—	$	—	$	—	$	3,112	$	—	$	3,112
Total Over the Counter	$	—	$	—	$	3,112	$	3,112	$	—	$	—	$	—	$	—	$	—

	Financial Derivative Assets								Financial Derivative Liabilities
Dynamic Asset Allocation Fund	Forward Foreign Currency Contracts		Purchased Options and Swaptions		Swap Agreements		Total Over the Counter		Forward Foreign Currency Contracts		Written Options and Swaptions		Swap Agreements		Reverse Repurchase Agreements		Total Over the Counter		Net Market Value of OTC Derivatives			Collateral (Received) Pledged⁽¹⁾		Net Exposures⁽²⁾
Goldman Sachs	$	—	$	—	$	—	$	—	$	—	$	—	$	8,260	$	—	$	8,260	$	( 8,260	)	$	—	$	(8,260	)
Total Over the Counter	$	—	$	—	$	—	$	—	$	—	$	—	$	8,260	$	—	$	8,260