NPORT-EX 2 MW13TCW123121.htm
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
1
/
December
2021
Issues
Maturity
Date
Principal
Amount
Value
BONDS
–
95
.13
%
ASSET-BACKED
SECURITIES
—
0
.30
%
**
Skyline
Aircraft
Finance
LLC,
Series
2021-1,
Class
A
3.23%
05/10/37
1,2
$
42,944‌
$
42,944‌
Total
Asset-Backed
Securities
(Cost
$42,944)
CORPORATES
—
85
.62
%
*
Banking
—
11
.57
%
Bank
of
America
Corp.
1.73%
07/22/27
3
200,000‌
198,547‌
3.00%
12/20/23
3
35,000‌
35,732‌
Bank
of
America
Corp.
(MTN)
2.09%
06/14/29
3
110,000‌
109,413‌
3.97%
03/05/29
3
20,000‌
21,941‌
4.08%
03/20/51
3
20,000‌
24,069‌
4.27%
07/23/29
3
15,000‌
16,754‌
Credit
Suisse
Group
AG
(Switzerland)
1.31%
02/02/27
3,4,5
30,000‌
29,014‌
2.19%
06/05/26
3,4,5
25,000‌
25,156‌
2.59%
09/11/25
3,4,5
5,000‌
5,103‌
3.09%
05/14/32
3,4,5
10,000‌
10,183‌
Discover
Bank
(BKNT)
3.45%
07/27/26
25,000‌
26,473‌
4.20%
08/08/23
10,000‌
10,496‌
DNB
Bank
ASA
(Norway)
1.13%
09/16/26
3,4,5
50,000‌
49,002‌
Fifth
Third
Bancorp
2.55%
05/05/27
40,000‌
41,290‌
HSBC
Holdings
PLC
(United
Kingdom)
2.21%
08/17/29
3,5
120,000‌
117,818‌
JPMorgan
Chase
&
Co.
1.58%
04/22/27
3
70,000‌
69,222‌
2.07%
06/01/29
3
15,000‌
14,904‌
3.11%
04/22/51
3
70,000‌
72,519‌
4.01%
04/23/29
3
20,000‌
22,148‌
4.02%
12/05/24
3
55,000‌
58,016‌
4.20%
07/23/29
3
25,000‌
27,989‌
4.49%
03/24/31
3
35,000‌
40,549‌
Lloyds
Banking
Group
PLC
(United
Kingdom)
1.63%
05/11/27
3,5
10,000‌
9,842‌
3.87%
07/09/25
3,5
65,000‌
68,703‌
Macquarie
Group
Ltd.
(Australia)
1.34%
01/12/27
3,4,5
20,000‌
19,469‌
1.63%
09/23/27
3,4,5
30,000‌
29,385‌
NatWest
Group
PLC
(United
Kingdom)
4.27%
03/22/25
3,5
50,000‌
52,965‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Banking
(continued)
Santander
UK
Group
Holdings
PLC
(United
Kingdom)
1.09%
03/15/25
3,5
$
80,000‌
$
79,299‌
3.57%
01/10/23
5
15,000‌
15,006‌
State
Street
Corp.
3.78%
12/03/24
3
5,000‌
5,266‌
Truist
Financial
Corp.
(MTN)
1.89%
06/07/29
3
30,000‌
29,574‌
Wells
Fargo
&
Co.
(MTN)
2.16%
02/11/26
3
20,000‌
20,310‌
2.39%
06/02/28
3
275,000‌
279,693‌
3.58%
05/22/28
3
25,000‌
26,895‌
5.01%
04/04/51
3
15,000‌
20,525‌
1,683,270‌
Communications
—
11
.66
%
AT&T,
Inc.
2.55%
12/01/33
70,000‌
68,542‌
3.80%
12/01/57
188,000‌
196,390‌
Charter
Communications
Operating
LLC/Charter
Communications
Operating
Capital
2.30%
02/01/32
50,000‌
47,541‌
3.75%
02/15/28
45,000‌
48,247‌
5.38%
05/01/47
52,000‌
62,330‌
5.75%
04/01/48
20,000‌
25,116‌
Comcast
Corp.
1.50%
02/15/31
85,000‌
79,807‌
2.94%
11/01/56
4
23,000‌
22,261‌
3.97%
11/01/47
35,000‌
40,866‌
4.00%
11/01/49
15,000‌
17,408‌
Cox
Communications,
Inc.
2.60%
06/15/31
4
40,000‌
39,999‌
3.15%
08/15/24
4
18,000‌
18,765‌
Discovery
Communications
LLC
3.63%
05/15/30
45,000‌
48,169‌
Fox
Corp.
3.50%
04/08/30
25,000‌
26,935‌
Level
3
Financing,
Inc.
3.40%
03/01/27
4
10,000‌
10,339‌
3.88%
11/15/29
4
24,000‌
24,455‌
Qwest
Corp.
7.25%
09/15/25
20,000‌
23,428‌
SES
GLOBAL
Americas
Holdings
GP
5.30%
03/25/44
4
35,000‌
40,096‌
Sprint
Spectrum
Co.
LLC/Sprint
Spectrum
Co.
II
LLC/Sprint
Spectrum
Co.
III
LLC
4.74%
03/20/25
4
81,250‌
85,110‌
5.15%
03/20/28
4
15,000‌
16,560‌
Tencent
Holdings
Ltd.
(Cayman
Islands)
3.98%
04/11/29
4,5
40,000‌
43,658‌
Time
Warner
Cable
LLC
5.50%
09/01/41
33,000‌
40,090‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
December
2021
/
2
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Communications
(continued)
T-Mobile
USA,
Inc.
2.55%
02/15/31
$
103,000‌
$
102,564‌
3.50%
04/15/25
15,000‌
15,977‌
3.75%
04/15/27
25,000‌
27,087‌
4.50%
04/15/50
22,000‌
25,786‌
Verizon
Communications,
Inc.
2.36%
03/15/32
4
165,000‌
162,864‌
2.55%
03/21/31
107,000‌
108,187‌
4.50%
08/10/33
55,000‌
64,756‌
ViacomCBS,
Inc.
4.20%
05/19/32
20,000‌
22,593‌
4.95%
05/19/50
12,000‌
15,337‌
Vodafone
Group
PLC
(United
Kingdom)
4.13%
05/30/25
5
21,000‌
22,724‌
4.25%
09/17/50
5
41,000‌
47,718‌
Walt
Disney
Co.
(The)
3.60%
01/13/51
38,000‌
43,087‌
6.20%
12/15/34
8,000‌
11,188‌
1,695,980‌
Consumer
Discretionary
—
3
.82
%
Altria
Group,
Inc.
3.70%
02/04/51
5,000‌
4,665‌
3.88%
09/16/46
11,000‌
10,686‌
5.95%
02/14/49
15,000‌
18,818‌
Anheuser-Busch
Cos.
LLC/Anheuser-Busch
InBev
Worldwide,
Inc.
4.70%
02/01/36
30,000‌
36,298‌
Anheuser-Busch
InBev
Worldwide,
Inc.
4.50%
06/01/50
35,000‌
43,276‌
4.60%
04/15/48
77,000‌
94,339‌
4.75%
01/23/29
30,000‌
34,949‌
Bacardi
Ltd.
(Bermuda)
4.70%
05/15/28
4,5
75,000‌
84,895‌
BAT
Capital
Corp.
4.39%
08/15/37
45,000‌
47,495‌
4.54%
08/15/47
50,000‌
52,412‌
Constellation
Brands,
Inc.
3.75%
05/01/50
35,000‌
38,335‌
Hyatt
Hotels
Corp.
1.80%
10/01/24
45,000‌
45,081‌
Imperial
Brands
Finance
PLC
(United
Kingdom)
4.25%
07/21/25
4,5
35,000‌
37,572‌
Reynolds
American,
Inc.
5.85%
08/15/45
5,000‌
6,089‌
554,910‌
Electric
—
7
.58
%
AEP
Transmission
Co.
LLC,
Series
M
3.65%
04/01/50
10,000‌
11,074‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Electric
(continued)
AEP
Transmission
Co.
LLC,
Series
N
2.75%
08/15/51
$
50,000‌
$
47,945‌
Alabama
Power
Co.
5.50%
03/15/41
9,000‌
11,769‌
Alliant
Energy
Finance
LLC
1.40%
03/15/26
4
45,000‌
43,413‌
Ameren
Corp.
3.50%
01/15/31
15,000‌
16,199‌
Appalachian
Power
Co.
4.45%
06/01/45
10,000‌
11,913‌
Appalachian
Power
Co.,
Series
X
3.30%
06/01/27
30,000‌
32,042‌
Baltimore
Gas
and
Electric
Co.
2.90%
06/15/50
50,000‌
49,965‌
Black
Hills
Corp.
4.35%
05/01/33
35,000‌
39,775‌
Consolidated
Edison
Co.
of
New
York,
Inc.
3.20%
12/01/51
43,000‌
43,383‌
Consolidated
Edison
Co.
of
New
York,
Inc.,
Series
2017
3.88%
06/15/47
10,000‌
11,006‌
Duke
Energy
Carolinas
LLC
3.75%
06/01/45
70,000‌
78,361‌
3.88%
03/15/46
15,000‌
17,026‌
4.00%
09/30/42
10,000‌
11,513‌
Evergy,
Inc.
2.45%
09/15/24
5,000‌
5,131‌
FirstEnergy
Transmission
LLC
5.45%
07/15/44
4
55,000‌
69,332‌
Florida
Power
&
Light
Co.
4.13%
02/01/42
115,000‌
137,565‌
Interstate
Power
and
Light
Co.
2.30%
06/01/30
20,000‌
19,930‌
ITC
Holdings
Corp.
4.05%
07/01/23
10,000‌
10,360‌
Metropolitan
Edison
Co.
4.00%
04/15/25
4
39,000‌
41,382‌
4.30%
01/15/29
4
15,000‌
16,784‌
MidAmerican
Energy
Co.
4.25%
05/01/46
10,000‌
12,214‌
Narragansett
Electric
Co.
(The)
3.40%
04/09/30
4
10,000‌
10,665‌
Northern
States
Power
Co.
4.13%
05/15/44
10,000‌
11,891‌
PacifiCorp.
4.13%
01/15/49
60,000‌
69,448‌
Public
Service
Co.
of
New
Mexico
3.85%
08/01/25
45,000‌
47,975‌
Southern
Co.
(The)
3.25%
07/01/26
6,000‌
6,360‌
Tucson
Electric
Power
Co.
3.85%
03/15/23
60,000‌
61,180‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
3
/
December
2021
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Electric
(continued)
Virginia
Electric
&
Power
Co.,
Series
B
3.80%
09/15/47
$
20,000‌
$
22,698‌
Virginia
Electric
and
Power
Co.
2.95%
11/15/51
25,000‌
25,362‌
Vistra
Operations
Co.,
LLC
3.55%
07/15/24
4
6,000‌
6,201‌
WEC
Energy
Group,
Inc.
2.20%
12/15/28
35,000‌
35,014‌
Xcel
Energy,
Inc.
4.80%
09/15/41
55,000‌
67,444‌
1,102,320‌
Energy
—
6
.42
%
BP
Capital
Markets
America,
Inc.
3.63%
04/06/30
45,000‌
49,700‌
ConocoPhillips
2.40%
02/15/31
4
35,000‌
35,273‌
Diamondback
Energy,
Inc.
4.40%
03/24/51
15,000‌
17,232‌
Energy
Transfer
LP
4.20%
04/15/27
37,000‌
40,177‌
4.95%
06/15/28
25,000‌
28,147‌
5.00%
05/15/50
55,000‌
63,440‌
5.40%
10/01/47
6,000‌
7,088‌
6.13%
12/15/45
12,000‌
15,010‌
EQM
Midstream
Partners
LP
6.50%
07/15/48
8,000‌
9,741‌
Exxon
Mobil
Corp.
3.45%
04/15/51
24,000‌
26,057‌
4.33%
03/19/50
17,000‌
20,925‌
Hess
Corp.
4.30%
04/01/27
33,000‌
36,161‌
KeySpan
Gas
East
Corp.
5.82%
04/01/41
4
15,000‌
19,762‌
Kinder
Morgan
Energy
Partners
LP
5.80%
03/15/35
15,000‌
18,851‌
Kinder
Morgan
Energy
Partners
LP
(MTN)
6.95%
01/15/38
15,000‌
20,785‌
Kinder
Morgan,
Inc.
(GMTN)
7.80%
08/01/31
15,000‌
21,327‌
Lundin
Energy
Finance
BV
(Netherlands)
3.10%
07/15/31
4,5
30,000‌
30,343‌
NGPL
Pipe
Co.
LLC
3.25%
07/15/31
4
20,000‌
20,370‌
4.88%
08/15/27
4
10,000‌
11,141‌
Petroleos
Mexicanos
(Mexico)
7.69%
01/23/50
5
40,000‌
38,679‌
Phillips
66
Partners
LP
4.90%
10/01/46
10,000‌
12,236‌
Plains
All
American
Pipeline
LP/PAA
Finance
Corp.
3.80%
09/15/30
15,000‌
15,682‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Energy
(continued)
4.50%
12/15/26
$
44,000‌
$
48,318‌
Rockies
Express
Pipeline
LLC
3.60%
05/15/25
4
30,000‌
30,932‌
6.88%
04/15/40
4
17,000‌
19,260‌
Ruby
Pipeline
LLC
8.00%
04/01/22
1,2,4
5,758‌
5,405‌
Sabine
Pass
Liquefaction
LLC
4.20%
03/15/28
3,000‌
3,296‌
Shell
International
Finance
BV
(Netherlands)
2.38%
11/07/29
5
25,000‌
25,543‌
2.88%
11/26/41
5
10,000‌
10,052‌
3.13%
11/07/49
5
20,000‌
20,736‌
4.38%
05/11/45
5
10,000‌
12,288‌
Southern
Co.
Gas
Capital
Corp.
2.45%
10/01/23
13,000‌
13,289‌
4.40%
06/01/43
10,000‌
11,427‌
5.88%
03/15/41
30,000‌
41,146‌
Southern
Natural
Gas
Co.
LLC
4.80%
03/15/47
4
15,000‌
18,042‌
TC
PipeLines
LP
3.90%
05/25/27
15,000‌
16,455‌
4.38%
03/13/25
30,000‌
32,326‌
Texas
Eastern
Transmission
LP
2.80%
10/15/22
4
40,000‌
40,439‌
TransCanada
PipeLines
Ltd.
(Canada)
5.00%
10/16/43
5
15,000‌
18,788‌
Williams
Cos.,
Inc.
(The)
3.90%
01/15/25
8,000‌
8,507‌
934,376‌
Finance
—
8
.40
%
AerCap
Ireland
Capital
DAC/AerCap
Global
Aviation
Trust
(Ireland)
3.00%
10/29/28
5
15,000‌
15,230‌
3.65%
07/21/27
5
25,000‌
26,366‌
3.88%
01/23/28
5
4,000‌
4,252‌
Air
Lease
Corp.
3.63%
12/01/27
19,000‌
20,068‌
4.25%
09/15/24
20,000‌
21,263‌
Avolon
Holdings
Funding
Ltd.
(Cayman
Islands)
2.53%
11/18/27
4,5
3,000‌
2,916‌
2.88%
02/15/25
4,5
25,000‌
25,554‌
Capital
One
Financial
Corp.
1.34%
12/06/24
3
35,000‌
35,224‌
Citigroup,
Inc.
1.46%
06/09/27
3
15,000‌
14,738‌
2.57%
06/03/31
3
100,000‌
100,974‌
2.88%
07/24/23
3
50,000‌
50,583‌
3.52%
10/27/28
3
30,000‌
32,205‌
3.67%
07/24/28
3
25,000‌
26,998‌
Ford
Motor
Credit
Co.
LLC
3.34%
03/28/22
54,000‌
54,205‌
4.25%
09/20/22
19,000‌
19,367‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
December
2021
/
4
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Finance
(continued)
Goldman
Sachs
Group,
Inc.
(The)
1.43%
03/09/27
3
$
15,000‌
$
14,698‌
1.54%
09/10/27
3
20,000‌
19,618‌
1.95%
10/21/27
3
20,000‌
19,940‌
2.60%
02/07/30
100,000‌
101,754‌
2.91%
07/24/23
3
35,000‌
35,390‌
3.27%
09/29/25
3
30,000‌
31,443‌
3.50%
11/16/26
5,000‌
5,331‌
Intercontinental
Exchange,
Inc.
1.85%
09/15/32
50,000‌
48,007‌
LSEGA
Financing
PLC
(United
Kingdom)
2.00%
04/06/28
4,5
45,000‌
44,452‌
Morgan
Stanley
0.99%
12/10/26
3
70,000‌
67,940‌
1.59%
05/04/27
3
30,000‌
29,705‌
Morgan
Stanley
(GMTN)
1.51%
07/20/27
3
85,000‌
83,689‌
3.70%
10/23/24
5,000‌
5,328‌
3.77%
01/24/29
3
25,000‌
27,202‌
Morgan
Stanley
(MTN)
1.16%
10/21/25
3
15,000‌
14,880‌
Morgan
Stanley,
Series
F
3.88%
04/29/24
20,000‌
21,214‌
Nationwide
Building
Society
(United
Kingdom)
3.62%
04/26/23
3,4,5
10,000‌
10,082‌
3.77%
03/08/24
3,4,5
65,000‌
66,968‌
4.36%
08/01/24
3,4,5
15,000‌
15,715‌
Park
Aerospace
Holdings
Ltd.
(Cayman
Islands)
5.50%
02/15/24
4,5
2,000‌
2,146‌
Pipeline
Funding
Co.
LLC
7.50%
01/15/30
4
26,694‌
33,517‌
Raymond
James
Financial,
Inc.
3.75%
04/01/51
40,000‌
44,338‌
4.65%
04/01/30
25,000‌
28,995‌
1,222,295‌
Food
—
0
.69
%
Kraft
Heinz
Foods
Co.
3.75%
04/01/30
5,000‌
5,410‌
4.63%
10/01/39
10,000‌
11,757‌
5.00%
07/15/35
10,000‌
12,273‌
Pilgrim's
Pride
Corp.
3.50%
03/01/32
4
35,000‌
35,530‌
Smithfield
Foods,
Inc.
2.63%
09/13/31
4
30,000‌
29,207‌
5.20%
04/01/29
4
5,000‌
5,716‌
99,893‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Health
Care
—
12
.20
%
AbbVie,
Inc.
4.05%
11/21/39
$
20,000‌
$
22,962‌
4.40%
11/06/42
45,000‌
54,067‌
4.50%
05/14/35
13,000‌
15,576‌
4.55%
03/15/35
20,000‌
24,084‌
Amgen,
Inc.
3.15%
02/21/40
45,000‌
46,107‌
4.40%
05/01/45
15,000‌
17,943‌
Anthem,
Inc.
3.60%
03/15/51
20,000‌
22,300‌
3.70%
09/15/49
15,000‌
16,828‌
Ascension
Health,
Series
B
2.53%
11/15/29
10,000‌
10,389‌
AstraZeneca
PLC
(United
Kingdom)
3.38%
11/16/25
5
10,000‌
10,742‌
Barnabas
Health,
Inc.,
Series
2012
4.00%
07/01/28
5,000‌
5,509‌
Baxter
International,
Inc.
3.95%
04/01/30
10,000‌
11,144‌
Bayer
U.S.
Finance
II
LLC
3.88%
12/15/23
4
5,000‌
5,227‌
4.38%
12/15/28
4
25,000‌
27,948‌
4.88%
06/25/48
4
30,000‌
36,960‌
Becton
Dickinson
and
Co.
3.79%
05/20/50
30,000‌
33,756‌
4.67%
06/06/47
5,000‌
6,337‌
Centene
Corp.
3.00%
10/15/30
21,000‌
21,383‌
Children's
Hospital
Medical
Center
2.82%
11/15/50
20,000‌
20,248‌
Cigna
Corp.
3.40%
03/15/51
5,000‌
5,270‌
3.88%
10/15/47
33,000‌
36,941‌
4.38%
10/15/28
25,000‌
28,432‌
City
of
Hope,
Series
2013
5.62%
11/15/43
15,000‌
21,255‌
City
of
Hope,
Series
2018
4.38%
08/15/48
10,000‌
12,526‌
CommonSpirit
Health
2.78%
10/01/30
35,000‌
35,915‌
3.91%
10/01/50
10,000‌
11,156‌
CVS
Health
Corp.
3.25%
08/15/29
60,000‌
64,036‌
5.05%
03/25/48
68,000‌
89,028‌
Danaher
Corp.
2.80%
12/10/51
30,000‌
29,704‌
DENTSPLY
SIRONA,
Inc.
3.25%
06/01/30
45,000‌
47,582‌
Elanco
Animal
Health,
Inc.
5.90%
08/28/28
5,000‌
5,807‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
5
/
December
2021
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Health
Care
(continued)
Fresenius
Medical
Care
U.S.
Finance
II,
Inc.
5.88%
01/31/22
4
$
50,000‌
$
50,179‌
Hackensack
Meridian
Health,
Inc.,
Series
2020
2.88%
09/01/50
30,000‌
30,237‌
HCA,
Inc.
2.38%
07/15/31
5,000‌
4,926‌
5.00%
03/15/24
29,000‌
31,206‌
5.25%
06/15/49
50,000‌
64,337‌
Humana,
Inc.
3.95%
03/15/27
25,000‌
27,343‌
Illumina,
Inc.
2.55%
03/23/31
35,000‌
35,120‌
Johnson
&
Johnson
4.50%
09/01/40
35,000‌
44,363‌
Kaiser
Foundation
Hospitals
3.15%
05/01/27
10,000‌
10,654‌
Mass
General
Brigham,
Inc.,
Series
2020
3.34%
07/01/60
10,000‌
10,959‌
Mayo
Clinic,
Series
2013
4.00%
11/15/47
25,000‌
30,571‌
Memorial
Sloan-Kettering
Cancer
Center
4.13%
07/01/52
5,000‌
6,316‌
Merck
&
Co.,
Inc.
2.15%
12/10/31
50,000‌
50,163‌
NYU
Langone
Hospitals,
Series
2020
3.38%
07/01/55
15,000‌
15,523‌
OhioHealth
Corp.,
Series
2020
3.04%
11/15/50
15,000‌
15,748‌
PerkinElmer,
Inc.
2.25%
09/15/31
20,000‌
19,511‌
2.55%
03/15/31
35,000‌
35,319‌
Pfizer,
Inc.
4.10%
09/15/38
10,000‌
11,921‌
Providence
St.
Joseph
Health
Obligated
Group,
Series
H
2.75%
10/01/26
10,000‌
10,493‌
Regeneron
Pharmaceuticals,
Inc.
1.75%
09/15/30
70,000‌
66,288‌
Royalty
Pharma
PLC
(United
Kingdom)
0.75%
09/02/23
5
25,000‌
24,786‌
1.75%
09/02/27
5
45,000‌
43,838‌
Sharp
HealthCare,
Series
20B
2.68%
08/01/50
50,000‌
49,123‌
Smith
&
Nephew
PLC
(United
Kingdom)
2.03%
10/14/30
5
30,000‌
29,006‌
STERIS
Irish
FinCo
UnLtd
Co.
(Ireland)
2.70%
03/15/31
5
30,000‌
30,299‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Health
Care
(continued)
Thermo
Fisher
Scientific,
Inc.
2.00%
10/15/31
$
45,000‌
$
44,394‌
UnitedHealth
Group,
Inc.
3.25%
05/15/51
60,000‌
65,059‌
3.70%
08/15/49
10,000‌
11,582‌
4.25%
04/15/47
15,000‌
18,404‌
Universal
Health
Services,
Inc.
1.65%
09/01/26
4
40,000‌
39,361‌
Viatris,
Inc.
1.13%
06/22/22
15,000‌
15,033‌
West
Virginia
United
Health
System
Obligated
Group,
Series
2020
3.13%
06/01/50
35,000‌
35,101‌
1,774,325‌
Industrials
—
2
.67
%
Amcor
Finance
USA,
Inc.
3.63%
04/28/26
10,000‌
10,669‌
Amcor
Flexibles
North
America,
Inc.
2.63%
06/19/30
5,000‌
5,064‌
BAE
Systems
Holdings,
Inc.
3.85%
12/15/25
4
20,000‌
21,456‌
BAE
Systems
PLC
(United
Kingdom)
3.40%
04/15/30
4,5
30,000‌
32,055‌
Berry
Global,
Inc.
0.95%
02/15/24
15,000‌
14,868‌
1.57%
01/15/26
28,000‌
27,422‌
Boeing
Co.
(The)
1.43%
02/04/24
35,000‌
34,978‌
CCL
Industries,
Inc.
(Canada)
3.05%
06/01/30
4,5
25,000‌
25,889‌
General
Electric
Co.
(MTN)
(LIBOR
USD
3-Month
plus
0.38%)
0.52%
05/05/26
6
10,000‌
9,805‌
L3Harris
Technologies,
Inc.
3.85%
06/15/23
40,000‌
41,529‌
Northrop
Grumman
Corp.
5.15%
05/01/40
28,000‌
36,403‌
Sealed
Air
Corp.
1.57%
10/15/26
4
20,000‌
19,416‌
Sonoco
Products
Co.
3.13%
05/01/30
10,000‌
10,468‌
Sydney
Airport
Finance
Co.
Pty
Ltd.
(Australia)
3.63%
04/28/26
4,5
5,000‌
5,299‌
3.90%
03/22/23
4,5
50,000‌
51,642‌
Trane
Technologies
Luxembourg
Finance
SA
(Luxembourg)
3.55%
11/01/24
5
5,000‌
5,293‌
WRKCo,
Inc.
3.00%
09/15/24
30,000‌
31,291‌
3.00%
06/15/33
5,000‌
5,165‌
388,712‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
December
2021
/
6
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Information
Technology
—
4
.70
%
Amazon.com,
Inc.
2.50%
06/03/50
$
67,000‌
$
63,972‌
3.10%
05/12/51
7,000‌
7,486‌
4.05%
08/22/47
6,000‌
7,292‌
Analog
Devices,
Inc.
2.95%
10/01/51
35,000‌
35,996‌
Apple,
Inc.
2.38%
02/08/41
25,000‌
24,285‌
2.65%
02/08/51
31,000‌
30,523‌
2.70%
08/05/51
70,000‌
69,634‌
Broadcom,
Inc.
2.60%
02/15/33
4
30,000‌
29,131‌
3.14%
11/15/35
4
25,000‌
25,360‌
3.63%
10/15/24
15,000‌
15,876‌
CDW
LLC/CDW
Finance
Corp.
3.28%
12/01/28
25,000‌
25,653‌
Fiserv,
Inc.
2.65%
06/01/30
15,000‌
15,238‌
Intel
Corp.
3.05%
08/12/51
35,000‌
35,924‌
3.25%
11/15/49
15,000‌
15,873‌
Micron
Technology,
Inc.
2.70%
04/15/32
25,000‌
25,114‌
Netflix,
Inc.
3.63%
06/15/25
4
30,000‌
31,646‌
NVIDIA
Corp.
3.50%
04/01/50
20,000‌
22,854‌
NXP
BV/NXP
Funding
LLC
(Netherlands)
4.63%
06/01/23
4,5
10,000‌
10,474‌
Oracle
Corp.
3.60%
04/01/50
60,000‌
58,862‌
3.95%
03/25/51
45,000‌
46,850‌
salesforce.com,
Inc.
2.90%
07/15/51
30,000‌
30,676‌
Skyworks
Solutions,
Inc.
0.90%
06/01/23
25,000‌
24,878‌
VMware,
Inc.
1.00%
08/15/24
30,000‌
29,743‌
683,340‌
Insurance
—
5
.38
%
Allstate
Corp.
(The)
3.85%
08/10/49
20,000‌
23,425‌
Aon
Corp.
2.80%
05/15/30
25,000‌
25,795‌
3.75%
05/02/29
5,000‌
5,486‌
Aon
Corp./Aon
Global
Holdings
PLC
2.05%
08/23/31
10,000‌
9,733‌
Arthur
J
Gallagher
&
Co.
3.05%
03/09/52
20,000‌
19,439‌
Athene
Global
Funding
1.61%
06/29/26
4
15,000‌
14,742‌
1.99%
08/19/28
4
10,000‌
9,740‌
(SOFR
Rate
plus
0.70%)
0.75%
05/24/24
4,6
30,000‌
30,055‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Insurance
(continued)
Berkshire
Hathaway
Finance
Corp.
2.85%
10/15/50
$
35,000‌
$
34,804‌
4.20%
08/15/48
20,000‌
24,329‌
Equitable
Financial
Life
Global
Funding
1.80%
03/08/28
4
20,000‌
19,687‌
Farmers
Exchange
Capital
II
6.15%
11/01/53
3,4
10,000‌
12,659‌
Farmers
Insurance
Exchange
4.75%
11/01/57
3,4
55,000‌
63,032‌
Guardian
Life
Insurance
Co.
of
America
(The)
3.70%
01/22/70
4
45,000‌
49,375‌
Marsh
&
McLennan
Cos.,
Inc.
2.25%
11/15/30
10,000‌
9,991‌
2.38%
12/15/31
20,000‌
20,195‌
Massachusetts
Mutual
Life
Insurance
Co.
3.38%
04/15/50
4
37,000‌
39,129‌
MMI
Capital
Trust
I,
Series
B
7.63%
12/15/27
25,000‌
31,386‌
Nationwide
Mutual
Insurance
Co.
2.49%
12/15/24
3,4
45,000‌
45,055‌
New
York
Life
Insurance
Co.
3.75%
05/15/50
4
65,000‌
74,167‌
Northwestern
Mutual
Life
Insurance
Co.
(The)
3.45%
03/30/51
4
39,000‌
41,839‌
Principal
Life
Global
Funding
II
0.75%
04/12/24
4
25,000‌
24,800‌
Teachers
Insurance
&
Annuity
Association
of
America
3.30%
05/15/50
4
15,000‌
15,685‌
4.38%
09/15/54
3,4
65,000‌
67,248‌
Travelers
Cos.,
Inc.
(The)
4.05%
03/07/48
10,000‌
12,213‌
Trinity
Acquisition
PLC
(United
Kingdom)
4.40%
03/15/26
5
20,000‌
21,920‌
Willis
North
America,
Inc.
2.95%
09/15/29
35,000‌
35,867‌
781,796‌
Materials
—
0
.74
%
Georgia-Pacific
LLC
2.30%
04/30/30
4
15,000‌
15,100‌
3.60%
03/01/25
4
20,000‌
21,218‌
International
Flavors
&
Fragrances,
Inc.
1.23%
10/01/25
4
5,000‌
4,900‌
2.30%
11/01/30
4
15,000‌
14,720‌
5.00%
09/26/48
25,000‌
32,215‌
Sherwin-Williams
Co.
(The)
2.30%
05/15/30
20,000‌
20,066‌
108,219‌
Real
Estate
Investment
Trust
(REIT)
—
5
.83
%
Alexandria
Real
Estate
Equities,
Inc.
4.50%
07/30/29
11,000‌
12,670‌
American
Assets
Trust
LP
3.38%
02/01/31
30,000‌
30,786‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
7
/
December
2021
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Real
Estate
Investment
Trust
(REIT)
(continued)
American
Campus
Communities
Operating
Partnership
LP
3.30%
07/15/26
$
10,000‌
$
10,547‌
3.63%
11/15/27
35,000‌
37,387‌
3.75%
04/15/23
25,000‌
25,683‌
3.88%
01/30/31
10,000‌
11,079‌
American
Homes
4
Rent
LP
2.38%
07/15/31
15,000‌
14,765‌
Boston
Properties
LP
2.55%
04/01/32
10,000‌
9,954‌
3.25%
01/30/31
5,000‌
5,240‌
3.40%
06/21/29
5,000‌
5,312‌
Crown
Castle
International
Corp.
3.30%
07/01/30
50,000‌
52,800‌
CubeSmart
LP
2.25%
12/15/28
20,000‌
20,077‌
4.38%
02/15/29
5,000‌
5,660‌
CyrusOne
LP/CyrusOne
Finance
Corp.
2.90%
11/15/24
5,000‌
5,166‌
3.45%
11/15/29
55,000‌
59,747‌
Essex
Portfolio
LP
2.65%
03/15/32
5,000‌
5,038‌
GLP
Capital
LP/GLP
Financing
II,
Inc.
3.35%
09/01/24
5,000‌
5,202‌
4.00%
01/15/30
65,000‌
69,098‌
Healthcare
Realty
Trust,
Inc.
2.40%
03/15/30
25,000‌
24,923‌
Healthcare
Trust
of
America
Holdings
LP
3.75%
07/01/27
65,000‌
70,582‌
Healthpeak
Properties,
Inc.
4.00%
06/01/25
35,000‌
37,689‌
Hudson
Pacific
Properties
LP
3.95%
11/01/27
50,000‌
53,619‌
Invitation
Homes
Operating
Partnership
LP
2.30%
11/15/28
30,000‌
29,707‌
Kilroy
Realty
LP
2.50%
11/15/32
15,000‌
14,614‌
3.45%
12/15/24
10,000‌
10,493‌
Life
Storage
LP
2.20%
10/15/30
40,000‌
39,362‌
LXP
Industrial
Trust
2.38%
10/01/31
5,000‌
4,798‌
2.70%
09/15/30
45,000‌
44,644‌
MGM
Growth
Properties
Operating
Partnership
LP/MGP
Finance
Co.-Issuer,
Inc.
4.63%
06/15/25
4
28,000‌
29,912‌
Mid-America
Apartments
LP
1.70%
02/15/31
10,000‌
9,555‌
Piedmont
Operating
Partnership
LP
2.75%
04/01/32
15,000‌
14,736‌
SL
Green
Operating
Partnership
LP
3.25%
10/15/22
45,000‌
45,705‌
UDR,
Inc.
(MTN)
4.40%
01/26/29
5,000‌
5,642‌
Ventas
Realty
LP
3.00%
01/15/30
15,000‌
15,498‌
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Real
Estate
Investment
Trust
(REIT)
(continued)
4.13%
01/15/26
$
10,000‌
$
10,892‌
848,582‌
Retail
—
0
.70
%
7-Eleven,
Inc.
0.80%
02/10/24
4
35,000‌
34,617‌
Alimentation
Couche-Tard,
Inc.
(Canada)
3.80%
01/25/50
4,5
45,000‌
48,767‌
McDonald's
Corp.
(MTN)
4.20%
04/01/50
15,000‌
18,219‌
101,603‌
Services
—
1
.53
%
Global
Payments,
Inc.
1.50%
11/15/24
35,000‌
35,021‌
IHS
Markit
Ltd.
(Bermuda)
4.00%
03/01/26
4,5
50,000‌
54,166‌
4.75%
08/01/28
5
15,000‌
17,440‌
5.00%
11/01/22
4,5
5,000‌
5,163‌
Moody's
Corp.
2.75%
08/19/41
20,000‌
19,534‌
Northwestern
University
3.69%
12/01/38
10,000‌
11,962‌
RELX
Capital,
Inc.
4.00%
03/18/29
35,000‌
38,856‌
University
of
Southern
California
2.81%
10/01/50
10,000‌
10,149‌
Waste
Connections,
Inc.
(Canada)
2.60%
02/01/30
5
5,000‌
5,107‌
3.05%
04/01/50
5
20,000‌
19,958‌
William
Marsh
Rice
University
2.60%
05/15/50
5,000‌
4,865‌
222,221‌
Transportation
—
1
.65
%
Burlington
Northern
Santa
Fe
LLC
3.30%
09/15/51
20,000‌
21,799‌
4.40%
03/15/42
18,000‌
21,979‌
Canadian
Pacific
Railway
Co.
(Canada)
2.45%
12/02/31
5
35,000‌
35,638‌
Delta
Air
Lines
Pass-Through
Trust,
Series
2020-1,
Class
AA
2.00%
06/10/28
22,758‌
22,402‌
JetBlue
Airways
Pass-Through
Trust,
Series
1A
4.00%
11/15/32
28,037‌
30,205‌
JetBlue
Airways
Pass-Through
Trust,
Series
2019-1,
Class
AA
2.75%
05/15/32
13,720‌
13,882‌
U.S.
Airways
Pass-Through
Trust,
Series
2011-1,
Class
A
7.13%
10/22/23
20,595‌
21,735‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
December
2021
/
8
Issues
Maturity
Date
Principal
Amount
Value
CORPORATES
(continued)
Transportation
(continued)
U.S.
Airways
Pass-Through
Trust,
Series
2012-1,
Class
A
5.90%
10/01/24
$
13,664‌
$
14,351‌
Union
Pacific
Corp.
2.95%
03/10/52
20,000‌
20,354‌
3.84%
03/20/60
25,000‌
29,530‌
United
Airlines
Pass-Through
Trust,
Series
2016-2,
Class
AA
2.88%
10/07/28
7,886‌
8,041‌
239,916‌
Water
—
0
.08
%
American
Water
Capital
Corp.
3.45%
05/01/50
11,000‌
11,841‌
Total
Corporates
(Cost
$12,392,674)
12,453,599‌
FOREIGN
GOVERNMENT
OBLIGATIONS
—
1
.51
%
Foreign
Government
Obligations
—
1
.51
%
Canadian
When
Issued
Government
Bond
(WI)
(Canada)
0.25%
11/01/23
5
140,000‌
109,942‌
0.75%
02/01/24
5
140,000‌
110,228‌
Total
Foreign
Government
Obligations
(Cost
$221,862)
220,170‌
MORTGAGE-BACKED
—
0
.70
%
**
Non-Agency
Commercial
Mortgage-Backed
—
0
.33
%
Commercial
Mortgage
Trust,
Series
2013-CR7,
Class
XA
(IO)
1.17%
03/10/46
3
308,692‌
3,329‌
Commercial
Mortgage
Trust,
Series
2014-UBS5,
Class
XA
(IO)
0.85%
09/10/47
1,2,3
601,287‌
11,091‌
Commercial
Mortgage
Trust,
Series
2014-UBS6,
Class
XA
(IO)
0.86%
12/10/47
3
446,441‌
9,338‌
GS
Mortgage
Securities
Trust,
Series
2010-C1,
Class
X
(IO)
0.73%
08/10/43
3,4
2,468,241‌
18,523‌
GS
Mortgage
Securities
Trust,
Series
2011-GC3,
Class
X
(IO)
0.00%
03/10/44
3,4
107,036‌
1‌
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust,
Series
2012-C5,
Class
XA
(IO)
1.34%
08/15/45
3,4
208,002‌
513‌
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust,
Series
2012-C6,
Class
XA
(IO)
1.58%
11/15/45
1,2,3,4
137,668‌
516‌
UBS-Barclays
Commercial
Mortgage
Trust,
Series
2012-C3,
Class
XB
(IO)
0.21%
08/10/49
1,2,3,4
2,200,000‌
3,719‌
Issues
Maturity
Date
Principal
Amount
Value
MORTGAGE-BACKED
(continued)
Non-Agency
Commercial
Mortgage-Backed
(continued)
WF-RBS
Commercial
Mortgage
Trust,
Series
2012-C7,
Class
XA
(IO)
1.28%
06/15/45
3,4
$
546,976‌
$
1,371‌
48,401‌
U.S.
Agency
Commercial
Mortgage-Backed
—
0
.26
%
Fannie
Mae-Aces,
Series
2015-M4,
Class
X2
(IO)
0.73%
07/25/22
3
138,566‌
24‌
Freddie
Mac
Multifamily
Structured
Pass-Through
Certificates,
Series
K723,
Class
X1
(IO)
0.91%
08/25/23
3
812,432‌
9,691‌
Ginnie
Mae,
Series
2009-111,
Class
IO
(IO)
0.19%
09/16/51
3
521,073‌
26,162‌
Ginnie
Mae,
Series
2011-53,
Class
IO
(IO)
0.00%
05/16/51
3
834,789‌
26‌
Ginnie
Mae,
Series
2012-144,
Class
IO
(IO)
0.35%
01/16/53
3
163,476‌
1,858‌
37,761‌
U.S.
Agency
Mortgage-Backed
—
0
.11
%
Fannie
Mae
REMICS,
Series
2011-116,
Class
SA
(IO)
(-1.00
X
LIBOR
USD
1-Month
plus
6.00%,
6.00%
Cap)
5.90%
11/25/41
6
31,695‌
4,010‌
Fannie
Mae
REMICS,
Series
2012-128,
Class
UA
2.50%
06/25/42
12,255‌
12,336‌
16,346‌
Total
Mortgage-Backed
(Cost
$247,753)
102,508‌
MUNICIPAL
BONDS
—
2
.58
%
*
California
—
1
.12
%
California
State
University
Revenue
Bonds,
University
&
College
Improvements,
Series
B
2.37%
11/01/35
35,000‌
34,037‌
City
of
San
Francisco
Public
Utilities
Commission
Water
Revenue
Bonds,
Series
E
2.83%
11/01/41
25,000‌
24,661‌
Los
Angeles
Department
of
Airports
Revenue
Bonds,
Port,
Airport
and
Marina
Improvements,
Series
A
3.89%
05/15/38
15,000‌
16,885‌
Los
Angeles
Department
of
Water
&
Power
Water
System
Revenue
Bonds,
Water
Utility
Improvements,
Series
SY
6.01%
07/01/39
5,000‌
6,635‌
Los
Angeles
Unified
School
District
General
Obligation
Bonds,
School
Improvements,
Series
KR
5.75%
07/01/34
30,000‌
39,083‌
5.76%
07/01/29
10,000‌
12,070‌
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
9
/
December
2021
Issues
Maturity
Date
Principal
Amount
Value
MUNICIPAL
BONDS
(continued)
California
(continued)
Los
Angeles
Unified
School
District
General
Obligation
Bonds,
School
Improvements,
Series
RY
6.76%
07/01/34
$
5,000‌
$
6,969‌
Regents
of
the
University
of
California
Medical
Center
Pooled
Revenue
Bonds,
Health,
Hospital
and
Nursing
Home
Improvements,
Series
N
3.26%
05/15/60
5,000‌
5,463‌
Santa
Clara
Valley
Transportation
Authority
Revenue
Bonds,
Transit
Improvements
5.88%
04/01/32
10,000‌
12,010‌
University
of
California,
Taxable,
College
&
University,
Revenue
Bonds,
University
&
College
Improvements,
Series
AJ
4.60%
05/15/31
5,000‌
5,824‌
163,637‌
Florida
—
0
.11
%
County
of
Miami-Dade
Aviation
Revenue
Bonds,
Airport
and
Marina
Improvements,
Series
D
3.50%
10/01/31
15,000‌
15,816‌
Massachusetts
—
0
.14
%
Massachusetts
School
Building
Authority
Revenue
Bonds,
Series
A
2.50%
02/15/37
10,000‌
9,733‌
Massachusetts
School
Building
Authority
Revenue
Bonds,
Series
B
2.97%
10/15/32
10,000‌
10,474‌
20,207‌
New
York
—
1
.10
%
City
of
New
York
General
Obligation
Bonds,
Series
D
1.92%
08/01/31
25,000‌
24,510‌
Metropolitan
Transportation
Authority
Revenue
Bonds,
Transit
Improvements,
Series
C2
5.18%
11/15/49
5,000‌
6,825‌
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Bonds,
Public
Improvements
3.73%
08/01/29
5,000‌
5,488‌
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Bonds,
Public
Improvements,
Series
E
1.97%
02/01/33
20,000‌
19,120‌
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Bonds,
Taxable
Bonds,
Public
Improvements
3.96%
08/01/32
30,000‌
33,110‌
New
York
State
Dormitory
Authority
Revenue
Bonds,
Series
C
1.95%
03/15/29
50,000‌
50,289‌
New
York
State
Urban
Development
Corp.
Revenue
Bonds,
Transit
Improvements,
Series
B
2.59%
03/15/35
20,000‌
19,936‌
159,278‌
Issues
Maturity
Date
Principal
Amount
Value
MUNICIPAL
BONDS
(continued)
Ohio
—
0
.11
%
Ohio,
Taxable
Revenue
Bonds,
Advanced
Refunding,
Cleveland
Clinic
2.89%
01/01/32
$
15,000‌
$
15,772‌
Total
Municipal
Bonds
(Cost
$376,021)
374,710‌
U.S.
TREASURY
SECURITIES
—
4
.42
%
U.S.
Treasury
Bonds
—
0
.39
%
U.S.
Treasury
Bonds
1.88%
11/15/51
57,000‌
56,563‌
U.S.
Treasury
Notes
—
4
.03
%
U.S.
Treasury
Notes
0.50%
11/30/23
67,000‌
66,750‌
0.75%
12/31/23
2,000‌
2,001‌
1.25%
11/30/26
159,000‌
159,000‌
1.25%
12/31/26
65,000‌
64,984‌
1.38%
11/15/31
298,000‌
294,322‌
587,057‌
Total
U.S.
Treasury
Securities
(Cost
$643,664)
643,620‌
Total
Bonds
—
95
.13
%
(Cost
$13,924,918)
13,837,551‌
Issues
Maturity
Date
Principal
Amount
/
Shares
Value
SHORT-TERM
INVESTMENTS
—
3
.65
%
Money
Market
Funds
—
2
.28
%
Dreyfus
Government
Cash
Management
Fund
0.03%
7
295,000‌
295,000‌
Fidelity
Investments
Money
Market
Funds
-
Government
Portfolio
0.01%
7
36,637‌
36,637‌
331,637‌
U.S.
Treasury
Bills
—
1
.37
%
U.S.
Treasury
Bills
0.18%
8
06/23/22
200,000‌
199,830‌
Total
Short-Term
Investments
(Cost
$531,469)
531,467‌
Total
Investments
-
98.78%
(Cost
$14,456,387)
14,369,018‌
Cash
and
Other
Assets,
Less
Liabilities
-
1.22%
177,046‌
Net
Assets
-
100.00%
$
14,546,064‌
1
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
2
Illiquid
security
as
determined
under
procedures
approved
by
the
Board
of
Trustees.
The
aggregate
value
of
illiquid
securities
is
$63,675,
which
is
0.44%
of
total
net
assets.
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
December
2021
/
10
3
Variable
rate
security.
Interest
rate
disclosed
is
as
of
the
most
recent
information
available.
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions.
4
Securities
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
The
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
5
Foreign
denominated
security
issued
by
foreign
domiciled
entity.
6
Floating
rate
security.
The
rate
disclosed
was
in
effect
at
December
31,
2021.
7
Represents
the
current
yield
as
of
December
31,
2021.
8
Represents
annualized
yield
at
date
of
purchase.
*
Securities
with
a
call
or
reset
feature
will
have
an
effective
maturity
date
sooner
than
the
stated
maturity.
**
Securities
backed
by
mortgage
or
consumer
loans
where
payment
is
periodically
made
will
have
an
effective
maturity
date
sooner
than
the
stated
maturity
date.
Note:
For
Fund
compliance
purposes,
the
Fund's
industry
classifications
refer
to
any
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
ratings
group
indexes,
and/or
as
defined
by
Fund
management.
This
definition
may
not
apply
for
purposes
of
this
report,
which
may
combine
industry
sub-classifications
for
more
meaningful
presentation
for
investors.
(BKNT):
Bank
Note
(CAD):
Canadian
Dollar
(GMTN):
Global
Medium-Term
Note
(IO):
Interest
Only
(LIBOR):
London
InterBank
Offer
Rate
(MTN):
Medium-Term
Note
(SOFR):
Secured
Overnight
Financing
Rate
(USD):
U.S.
Dollar
(WI):
When
Issued
Currency
to
be
Purchased
Currency
to
be
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
FOREIGN
CURRENCY
EXCHANGE
CONTRACT
CAD
275,000
USD
214,492
Citigroup
Global
Markets
Inc.
01/07/22
$
3,216‌
USD
222,593
CAD
275,000
Citigroup
Global
Markets
Inc.
01/07/22
4,885‌
8,101‌
USD
214,422
CAD
275,000
Citigroup
Global
Markets
Inc.
04/08/22
(
3,215‌
)
NET
UNREALIZED
APPRECIATION
$
4,886‌
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
(Depreciation)
FUTURES
CONTRACTS:
LONG
POSITIONS
U.S.
Treasury
Two-Year
Note
5
03/31/22
$
1,090,859‌
$
(
1,182‌
)
$
(
1,182‌
)
U.S.
Treasury
Five-Year
Note
2
03/31/22
241,953‌
935‌
935‌
1,332,812‌
(
247‌
)
(
247‌
)
FUTURES
CONTRACTS:
SHORT
POSITIONS
U.S.
Treasury
Ten-Year
Ultra
Bond
6
03/22/22
(
878,625‌
)
(
10,978‌
)
(
10,978‌
)
TOTAL
FUTURES
CONTRACTS
$
454,187‌
$
(
11,225‌
)
$
(
11,225‌
)
Received
by
the
Fund
Paid
by
the
Fund
Description
Put/
Call
Maturity
Date
Rate
Frequency
Rate
Frequency
Notional
Amount
(000's)
Value
Premiums
Paid
Unrealized
Appreciation
(Depreciation)
SWAPS:
INTEREST
RATE
Interest
Rate
Swap
1
Call
12/07/25
1.69%
Semi-annually
3-month
USD
LIBOR
Quarterly
$
420‌
$
263‌
$
—‌
$
263‌
Interest
Rate
Swap
1
Call
12/07/53
3-month
USD
LIBOR
Quarterly
1.74%
Semi-annually
35‌
373‌
—‌
373‌
Interest
Rate
Swap
1
Call
09/28/25
1.39%
Semi-annually
3-month
USD
LIBOR
Quarterly
1,130‌
(
5,622‌
)
—‌
(
5,622‌
)
Interest
Rate
Swap
1
Call
09/28/53
3-month
USD
LIBOR
Quarterly
1.87%
Semi-annually
95‌
(
1,748‌
)
—‌
(
1,748‌
)
TOTAL
SWAPS
CONTRACTS
$
1,680‌
$
(
6,734‌
)
$
—‌
$
(
6,734‌
)
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
11
/
December
2021
SIGNIFICANT
ACCOUNTING
POLICIES
The
following
is
a
summary
of
significant
accounting
policies
consistently
followed
by
the
Fund:
Net
Asset
Value
The
Net
Asset
Value
(“NAV”)
of
each
class
of
the
Fund
is
determined
by
dividing
the
net
assets
attributable
to
each
class
of
shares
of
the
Fund
by
the
number
of
issued
and
outstanding
shares
of
the
class
of
the
Fund
on
each
business
day
as
of
4
p.m.
ET.
Security
Valuation
Fixed
income
securities
for
which
market
quotations
are
readily
available
are
valued
at
prices
as
provided
by
independent
pricing
vendors
or
broker
quotes.
The
Fund
receives
pricing
information
from
independent
pricing
vendors
approved
by
the
Board
of
Trustees
(the
“Board”
or
the
“Board
of
Trustees”).
Securities
with
a
demand
feature
exercisable
within
one
to
seven
days
are
valued
at
par.
The
Fund
also
uses
a
benchmark
pricing
system
to
the
extent
vendors’
prices
for
their
securities
are
either
inaccurate
(such
as
when
the
reported
prices
are
different
from
recent
known
market
transactions)
or
are
not
available
from
another
pricing
source.
For
a
security
priced
using
this
system,
the
Adviser
initially
selects
a
proxy
composed
of
a
relevant
security
(e.g.,
U.S.
Treasury
Note)
or
benchmark
(e.g.,
LIBOR)
and
a
multiplier,
divisor
or
margin
that
the
Adviser
believes
would
together
best
reflect
changes
in
the
market
value
of
the
security.
The
value
of
the
security
changes
daily
based
on
changes
to
the
market
price
of
the
assigned
benchmark.
The
benchmark
pricing
system
is
continuously
reviewed
by
the
Adviser
and
implemented
according
to
the
pricing
policy
reviewed
by
the
Board.
S&P
500
Index
futures
contracts
are
valued
at
the
first
sale
price
after
4
p.m.
ET
on
the
Chicago
Mercantile
Exchange.
All
other
futures
contracts
are
valued
at
the
official
settlement
price
of
the
exchange
on
which
those
securities
are
traded.
Equity
securities,
including
depository
receipts,
are
valued
at
the
last
reported
sale
price
or
the
market’s
closing
price
on
the
exchange
or
market
on
which
such
securities
are
traded,
as
of
the
close
of
business
on
the
day
the
securities
are
being
valued
or,
lacking
any
sales,
at
the
average
of
the
bid
and
ask
prices.
In
cases
where
equity
securities
are
traded
on
more
than
one
exchange,
the
securities
are
valued
on
the
exchange
or
market
determined
by
the
Adviser
to
be
the
broadest
and
most
representative
market,
which
may
be
either
a
securities
exchange
or
the
over-the-counter
market.
Equity
options
are
valued
at
the
average
of
the
bid
and
ask
prices.
Securities
and
other
assets
that
cannot
be
valued
as
described
above
will
be
valued
at
their
fair
value
as
determined
by
the
Adviser
under
guidelines
established
by
and
under
the
general
supervision
and
responsibility
of
the
Board.
Investments
in
registered
open-ended
investment
companies,
including
those
classified
as
money
market
funds,
are
valued
based
upon
the
reported
NAV
of
such
investments.
Fair
value
methods
approved
by
the
Board
of
Trustees
include,
but
are
not
limited
to,
obtaining
market
quotations
from
secondary
pricing
services,
broker-dealers,
or
widely
used
quotation
systems.
General
factors
considered
in
determining
the
fair
value
of
securities
include
fundamental
analytical
data,
the
nature
and
duration
of
any
restrictions
on
disposition
of
the
securities,
and
an
evaluation
of
the
forces
that
influence
the
market
in
which
the
investments
are
purchased
and
sold.
These
securities
are
either
categorized
as
Level
2
or
3
depending
on
the
relevant
inputs
used.
In
the
event
that
the
security
or
asset
cannot
be
valued
pursuant
to
one
of
the
valuation
methods
established
by
the
Board,
the
value
of
the
security
or
asset
will
be
determined
in
good
faith
by
the
Pricing
Committee
of
the
Board,
generally
based
upon
recommendations
provided
by
the
Adviser.
When
the
Fund
uses
these
fair
valuation
methods
applied
by
the
Adviser
that
use
significant
unobservable
inputs
to
determine
NAV,
securities
will
be
priced
by
a
method
that
the
Board
or
persons
acting
at
their
direction
believe
accurately
reflect
fair
value
and
are
categorized
as
Level
3
of
the
fair
value
hierarchy.
These
methods
may
require
subjective
determinations
about
the
value
of
a
security.
While
the
Fund’s
policy
is
intended
to
result
in
a
calculation
of
its
NAV
that
fairly
reflects
security
values
as
of
the
time
of
pricing,
the
Fund
cannot
guarantee
that
values
determined
by
the
Board
or
persons
acting
at
their
direction
would
accurately
reflect
the
price
that
the
Fund
could
obtain
for
a
security
if
it
were
to
dispose
of
that
security
as
of
the
time
of
pricing
(for
instance,
in
a
forced
or
distressed
sale).
The
prices
used
by
the
Fund
may
differ
from
the
value
that
would
be
realized
if
the
securities
were
sold.
Fair
Value
Measurements
Various
inputs
are
used
in
determining
the
fair
value
of
investments,
which
are
as
follows:
*
Level
1
-
unadjusted
quoted
prices
in
active
markets
for
identical
securities
*
Level
2
-
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risk,
etc.)
*
Level
3
-
significant
unobservable
inputs
that
are
not
corroborated
by
observable
market
data
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
December
2021
/
12
The
inputs
or
methodology
used
for
valuing
investments
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
investments
and
the
determination
of
the
significance
of
a
particular
input
to
the
fair
value
measurement
in
its
entirety
requires
judgment
and
consideration
of
factors
specific
to
each
security.
The
availability
of
observable
inputs
can
vary
from
security
to
security
and
is
affected
by
a
wide
variety
of
factors,
including,
for
example,
the
type
of
security,
whether
the
security
is
new
and
not
yet
established
in
the
marketplace,
the
liquidity
of
markets,
and
other
characteristics
particular
to
the
security.
To
the
extent
that
valuation
is
based
on
models
or
inputs
that
are
less
observable
or
unobservable
in
the
market,
the
determination
of
fair
value
requires
more
judgment.
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized as
Level
3.
In
periods
of
market
dislocation,
the
observability
of
prices
and
inputs
may
be
reduced
for
many
instruments.
This
condition,
as
well
as
changes
related
to
liquidity
of
investments,
could
cause
a
security
to
be
reclassified
between
Level
1,
Level
2,
or
Level
3.
In
certain
cases,
the
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes
the
level
in
the
fair
value
hierarchy
within
which
the
fair
value
measurement
falls
in
its
entirety
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
The
summary
of
inputs
used
to
value
the
Fund’s
investments
and
other
financial
instruments
carried
at
fair
value
as
of
December
31,
2021
is
as
follows:
CORPORATE
BOND
FUND
LEVEL
1
LEVEL
2
LEVEL
3
TOTAL
Investments
in
Securities
Assets:
Short-Term
Investments:
Money
Market
Funds
$
331,637‌
$
—‌
$
—‌
$
331,637‌
U.S.
Treasury
Bills
199,830‌
—‌
—‌
199,830‌
Long-Term
Investments:
Asset-Backed
Securities
—‌
—‌
42,944‌
42,944‌
Corporates
—‌
12,448,194‌
5,405‌
12,453,599‌
Foreign
Government
Obligations
—‌
220,170‌
—‌
220,170‌
Mortgage-Backed
Securities
—‌
87,182‌
15,326‌
102,508‌
Municipal
Bonds
—‌
374,710‌
—‌
374,710‌
U.S.
Treasury
Securities
643,620‌
—‌
—‌
643,620‌
Other
Financial
Instruments
*
Assets:
Foreign
currency
exchange
contracts
—‌
8,101‌
—‌
8,101‌
Interest
rate
contracts
935‌
636‌
—‌
1,571‌
Liabilities:
Foreign
currency
exchange
contracts
—‌
(
3,215‌
)
—‌
(
3,215‌
)
Interest
rate
contracts
(
12,160‌
)
(
7,370‌
)
—‌
(
19,530‌
)
Total
$
1,163,862‌
$
13,128,408‌
$
63,675‌
$
14,355,945‌
*Other
financial
instruments
include
foreign
currency
exchange
contracts,
futures
and
swaps.
Interest
rate
contracts
include
futures
and
swaps.
Corporate
Bond
Fund
Schedule
of
Portfolio
Investments
December
31,
2021
(Unaudited)
13
/
December
2021
Certain
securities
held
by
the
Funds
are
categorized
as
Level
3
investments.
Their
prices
may
be
derived
by
utilizing
unobservable
prior
transaction
values
or
information
from
third
party
valuation
services.
The
value
of
Level
3
investments
could
be
significantly
affected
by
changes
in
these
unobservable
inputs.
For
the
period
ended
December
31,
2021
a
reconciliation
of
Level
3
investments
is
presented
when
the
Fund
had
a
significant
amount
of
Level
3
investments
at
the
beginning
and/or
end
of
the
period
in
relation
to
net
assets.
The
following
table
is
a
reconciliation
of
Level
3
investments
for
which
significant
unobservable
inputs
were
used
in
determining
fair
value:
CORPORATE
BOND
FUND
ASSET-BACKED
SECURITIES
CORPORATES
MORTGAGE-
BACKED
SECURITIES
Balance
as
of
April
1,
2021
$
44,118‌
$
5,267‌
$
25,014‌
Accrued
discounts/premiums
—‌
(
39‌
)
(
1,503‌
)
Realized
(loss)
—‌
(
5‌
)
—‌
Change
in
unrealized
appreciation
(depreciation)*
679‌
712‌
(
8,185‌
)
Purchases
—‌
—‌
—‌
Sales
(
1,853‌
)
(
530‌
)
—‌
Transfers
into
Level
3**
—‌
—‌
—‌
Transfers
out
of
Level
3**
—‌
—‌
—‌
Balance
as
of
December
31,
2021
$
42,944‌
$
5,405‌
$
15,326‌
*The
change
in
unrealized
appreciation
(depreciation)
on
securities
still
held
at
December
31,
2021
was
$(6,793)
and
is
included
in
the
related
net
realized
gains
(losses)
and
net
change
in
appreciation
(depreciation)
in
the
Statements
of
Operations.
**There
were
no
transfers
between
level
2
and
3
for
the
period
ended
December
31,
2021.
Significant
unobservable
valuations
inputs
for
Level
3
investments
as
of
December
31,
2021,
are
as
follows:
CORPORATE
BOND
FUND
FAIR
VALUE
AT
12/31/21
VALUATION
TECHNIQUE
*
UNOBSERVABLE
INPUT
RANGE
WEIGHTED
AVERAGE
Asset-Backed
Securities
$42,944
Broker
Quote
Offered
Quote
$100.00
$100.00
Corporate
Securities
$5,405
Third-Party
Vendor
Vendor
Prices
$93.88
$93.88
Mortgage-Backed
Securities-Commercial
Mortgage-Backed
$15,326
Third-Party
Vendor
Vendor
Prices
$0.17
-
$1.84
$1.39
*
The
valuation
technique
employed
on
the
Level
3
securities
involves
the
use
of
vendor
prices,
broker
quotes
and
benchmark
pricing.
The
Adviser
monitors
the
third-party
brokers
and
vendors
using
the
valuation
process.