NPORT-EX 2 5808_0001257927.htm
1
Balanced
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Common
Stocks
-
47
.2
%
a
Information
Technology
%
of
Net
Assets
Shares
$
Value
Data
Processing
&
Outsourced
Services
4.7
Visa,
Inc.
-
Class
A
15,000
3,507,300‌
Mastercard,
Inc.
-
Class
A
9,250
3,377,082‌
Fidelity
National
Information
Services,
Inc.
22,000
3,116,740‌
a
Systems
Software
3.6
Microsoft
Corp.
17,500
4,740,750‌
Oracle
Corp.
37,500
2,919,000‌
a
Semiconductors
2.5
Analog
Devices,
Inc.
17,500
3,012,800‌
Texas
Instruments,
Inc.
12,500
2,403,750‌
a
IT
Consulting
&
Other
Services
1.1
Accenture
plc
-
Class
A
(a)
8,000
2,358,320‌
a
11.9
25,435,742‌
Financials
Insurance
Brokers
2.2
Aon
plc
-
Class
A
(a)
20,000
4,775,200‌
a
Investment
Banking
&
Brokerage
2.2
The
Charles
Schwab
Corp.
65,000
4,732,650‌
a
Multi-Sector
Holdings
2.2
Berkshire
Hathaway,
Inc.
-
Class
B
(b)
17,000
4,724,640‌
a
Property
&
Casualty
Insurance
1.8
Markel
Corp.
(b)
3,250
3,856,808‌
a
Diversified
Banks
1.5
JPMorgan
Chase
&
Co.
20,000
3,110,800‌
a
Financial
Exchanges
&
Data
1.2
S&P
Global,
Inc.
6,000
2,462,700‌
a
Mortgage
REITs
0.7
Redwood
Trust,
Inc.
125,000
1,508,750‌
a
11.8
25,171,548‌
Health
Care
Health
Care
Services
2.2
Laboratory
Corp.
of
America
Holdings
(b)
17,000
4,689,450‌
a
Life
Sciences
Tools
&
Services
1.9
Thermo
Fisher
Scientific,
Inc.
8,000
4,035,760‌
a
Health
Care
Equipment
1.9
Danaher
Corp.
15,000
4,025,400‌
a
6.0
12,750,610‌
Communication
Services
Cable
&
Satellite
3.3
Charter
Communications,
Inc.
-
Class
A
(b)
5,000
3,607,250‌
Comcast
Corp.
-
Class
A
60,000
3,421,200‌
a
Communication
Services  
%
of
Net
Assets
Shares
$
Value
a
Interactive
Media
&
Services
2.2
Alphabet,
Inc.
-
Class
C
(b)
1,900
4,762,008‌
a
5.5
11,790,458‌
Industrials
Industrial
Conglomerates
2.5
Roper
Technologies,
Inc.
6,000
2,821,200‌
Honeywell
International,
Inc.
11,000
2,412,850‌
a
Industrial
Machinery
2.1
IDEX
Corp.
11,000
2,420,550‌
Fortive
Corp.
30,000
2,092,200‌
a
4.6
9,746,800‌
Materials
Construction
Materials
3.2
Vulcan
Materials
Co.
22,500
3,916,575‌
Martin
Marietta
Materials,
Inc.
8,000
2,814,480‌
a
Industrial
Gases
1.2
Linde
plc
(a)
9,000
2,601,900‌
a
4.4
9,332,955‌
Consumer
Discretionary
Automotive
Retail
1.7
AutoZone,
Inc.
(b)
2,500
3,730,550‌
Consumer
Staples
Distillers
&
Vintners
1.3
Diageo
plc
-
ADR
(a)
15,000
2,875,350‌
a
Total
Common
Stocks
(Cost
$49,858,856)
100,834,013‌
Non-Convertible
Preferred
Stocks
-
1
.8
%
a
Consumer
Discretionary
Internet
&
Direct
Marketing
Retail
1.8
Qurate
Retail,
Inc.
8.00%
3/15/31
35,000
3,788,750‌
Corporate
Bonds
-
3
.2
%
a
a
a
$
Principal
Amount
$
Value
a
a
AutoZone,
Inc.
3.625%
4/15/25
500,000
547,588‌
First
Republic
Bank
2.5%
6/06/22
2,185,000
2,224,585‌
JPMorgan
Chase
&
Co.
3.375%
5/01/23
500,000
526,519‌
Markel
Corp.
4.9%
7/01/22
410,000
427,309‌
3.625%
3/30/23
500,000
525,578‌
Oracle
Corp.
1.9%
9/15/21
1,000,000
1,001,984‌
U.S.
Bancorp
2.4%
7/30/24
500,000
526,312‌
2
Balanced
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
a
a
a
$
Principal
Amount
$
Value
a
a
Wells
Fargo
&
Co.
3.5%
3/08/22
1,000,000
1,022,335‌
a
Total
Corporate
Bonds
(Cost
$6,653,532)
6,802,210‌
Corporate
Convertible
Bonds
-
1
.0
%
a
a
Redwood
Trust,
Inc.
5.625%
7/15/24
(Cost
$1,864,116)
2,000,000
2,075,000‌
Asset-Backed
Securities
-
5
.8
%
a
a
Automobile
American
Credit
Acceptance
Receivables
Trust
(ACAR)
Series
2020-4
Class
A
-
0.53%
3/13/24
(c)
227,928
228,164‌
Series
2021-2
Class
A
-
0.37%
10/15/24
(c)
228,307
228,468‌
ARI
Fleet
Lease
Trust
(ARIFL)
Series
2020-A
Class
A2
-
1.77%
8/15/28
(c)
150,832
151,758‌
Chesapeake
Funding
II
LLC
(CFII)
Series
2021-1A
Class
A1
-
0.47%
4/15/33
(c)
473,167
473,250‌
DT
Auto
Owner
Trust
(DTAOT)
Series
2018-3A
Class
C
-
3.79%
7/15/24
(c)
165,198
165,860‌
Series
2020-3A
Class
A
-
0.54%
4/15/24
(c)
261,600
261,958‌
Enterprise
Fleet
Financing
LLC
(EFF)
Series
2019-2
Class
A2
-
2.29%
2/20/25
(c)
211,360
214,355‌
Series
2020-1
Class
A2
-
1.78%
12/22/25
(c)
364,624
369,576‌
Enterprise
Fleet
Funding
LLC
(EFF)
Series
2021-1
Class
A1
-
0.16793%
3/21/22
(c)
218,796
218,803‌
Exeter
Automobile
Receivables
Trust
(EART)
Series
2020-2A
Class
A
-
1.13%
8/15/23
(c)
31,085
31,111‌
Foursight
Capital
Automobile
Receivables
Trust
(FCRT)
Series
2021-1
Class
A1
-
0.26978%
2/15/22
(c)
29,165
29,165‌
GLS
Auto
Receivables
Issuer
Trust
(GCAR)
Series
2020-1A
Class
A
-
2.17%
2/15/24
(c)
75,622
76,061‌
Series
2020-2A
Class
A
-
1.58%
8/15/24
(c)
104,045
104,855‌
Series
2020-4A
Class
A
-
0.52%
2/15/24
(c)
300,708
301,018‌
Series
2021-1A
Class
A
-
0.34%
5/15/24
(c)
566,701
566,952‌
JPMorgan
Chase
Auto
Credit
Linked
Note
(CACLN)
Series
2020-1
Class
B
-
0.991%
1/25/28
(c)
516,719
518,395‌
Series
2020-2
Class
B
-
0.84%
2/25/28
(c)
81,673
81,815‌
Series
2021-1
Class
B
-
0.875%
9/25/28
(c)
750,000
750,886‌
Securitized
Term
Auto
Loan
Receivables
Trust
(SSTRT)
Series
2019-CRTA
Class
B
-
2.453%
3/25/26
(a)
(c)
105,013
106,810‌
Wheels
SPV
2
LLC
(WHLS)
Series
2020-1A
Class
A2
-
0.51%
8/20/29
(c)
954,650
956,335‌
a
5,835,595‌
a
Collateralized
Loan
Obligations
ABPCI
Direct
Lending
Fund
CLO
X
LP
(ABPCI)
Series
2020-10A
Class
A1A
-
2.13825%
1/20/32
Floating
Rate
(Qtrly
LIBOR
+
195)
(a)
(c)
(d)
500,000
501,805‌
Blackrock
Rainier
CLO
VI
Ltd.
(BLKMM)
Series
2021-6A
Class
A
-
1.88762%
4/20/33
Floating
Rate
(Qtrly
LIBOR
+
170)
(a)
(c)
(d)
500,000
499,997‌
a
a
a
$
Principal
Amount
$
Value
a
a
Cerberus
Loan
Funding
XXVIII
LP
(CERB)
Series
2020-1A
Class
A
-
2.03375%
10/15/31
Floating
Rate
(Qtrly
LIBOR
+
185)
(a)
(c)
(d)
500,000
501,727‌
Fortress
Credit
Opportunities
XV
CLO
Ltd.
(FCO)
Series
2021-15A
Class
AT
-
1.74513%
4/25/33
Floating
Rate
(Qtrly
LIBOR
+
155)
(a)
(c)
(d)
500,000
499,986‌
Palmer
Square
Loan
Funding
Ltd.
(PSTAT)
Series
2021-1A
Class
A2
-
1.40495%
4/20/29
Floating
Rate
(Qtrly
LIBOR
+
125)
(a)
(c)
(d)
500,000
499,998‌
a
2,503,513‌
a
Consumer
&
Specialty
Finance
Affirm
Asset
Securitization
Trust
(AFFRM)
Series
2021-A
Class
A
-
0.88%
8/15/25
(c)
100,000
100,177‌
Marlette
Funding
Trust
(MFT)
Series
2019-2A
Class
A
-
3.13%
7/16/29
(c)
40,557
40,704‌
Series
2019-3A
Class
A
-
2.69%
9/17/29
(c)
43,416
43,608‌
Series
2021-1A
Class
A
-
0.6%
6/16/31
(c)
92,427
92,509‌
Onemain
Financial
Issuance
Trust
(OMFIT)
Series
2018-1A
Class
A
-
3.3%
3/14/29
(c)
355,359
356,583‌
SoFi
Consumer
Loan
Program
Trust
(SCLP)
Series
2019-2
Class
A
-
3.01%
4/25/28
(c)
28,393
28,505‌
Series
2019-3
Class
A
-
2.9%
5/25/28
(c)
51,868
52,142‌
Upstart
Securitization
Trust
(UPST)
Series
2019-2
Class
A
-
2.897%
9/20/29
(c)
57,655
57,772‌
a
772,000‌
a
Equipment
Amur
Equipment
Finance
Receivables
IX
LLC
(AXIS)
Series
2021-1A
Class
A2
-
0.75%
11/20/26
(c)
750,000
750,638‌
CCG
Receivables
Trust
(CCG)
Series
2019-2
Class
A2
-
2.11%
3/15/27
(c)
245,733
248,597‌
Dell
Equipment
Finance
Trust
(DEFT)
Series
2020-2
Class
A2
-
0.47%
10/24/22
(c)
667,480
668,365‌
GreatAmerica
Leasing
Receivables
Funding
LLC
(GALC)
Series
2020-1
Class
A2
-
1.76%
6/15/22
(c)
213,184
214,038‌
Hewett-Packard
Financial
Services
Equipment
Trust
(HPEFS)
Series
2020-1A
Class
A2
-
1.73%
2/20/30
(c)
93,335
93,670‌
HPEFS
Equipment
Trust
(HPEFS)
Series
2021-1A
Class
A1
-
0.1653%
3/21/22
(c)
263,842
263,851‌
SCF
Equipment
Leasing
LLC
(SCFET)
Series  2021-1A
Class
A1
-
0.23387%
3/11/22
(c)
163,630
163,630‌
Series
2020-1A
Class
A2
-
0.68%
10/20/25
(c)
410,010
410,837‌
a
2,813,626‌
a
Other
Octane
Receivables
Trust
(OCTL)
Series
2020-1A
Class
A
-
1.71%
2/20/25
(c)
320,072
322,945‌
Series
2021-1A
Class
A
-
0.93%
3/22/27
(c)
143,481
143,662‌
466,607‌
a
Total
Asset-Backed
Securities
(Cost
$12,359,701)
12,391,341‌
3
Commercial
Mortgage-Backed
Securities
-
1
.1
%
a
a
a
$
Principal
Amount
$
Value
a
a
BFLD
Trust
(BFLD)
Series
2020-OBRK
Class
A
-
2.123%
11/15/22
Floating
Rate
(Mthly
LIBOR
+
205)
(c)
125,000
126,698‌
BPCRE
Ltd.
(BPCRE)
Series
2021-FL1
Class
AS
-
1.23175%
2/15/37
Floating
Rate
(Mthly
LIBOR
+
115)
(a)
(c)
500,000
501,750‌
GPMT
Ltd.
(GPMT)
Series
2021-FL3
Class
A
-
1.3325%
7/16/35
Floating
Rate
(Mthly
LIBOR
+
125)
(a)
(c)
500,000
500,000‌
HGI
CRE
CLO
Ltd.
(HGI)
Series
2021-FL1
Class
A
-
1.12463%
6/16/36
Floating
Rate
(Mthly
LIBOR
+
105)
(a)
(c)
250,000
250,000‌
LoanCore
Issuer
Ltd.
(LNCR)
Series
2021-CRE5
Class
A
-
1.37288%
7/15/36
Floating
Rate
(Mthly
LIBOR
+
130)
(a)
(c)
500,000
500,000‌
VMC
Finance
LLC
(VMC)
Series
2021-FL4
Class
A
-
1.1825%
6/16/36
Floating
Rate
(Mthly
LIBOR
+
110)
(c)
500,000
500,000‌
a
Total
Commercial
Mortgage-Backed
Securities
(Cost
$2,375,000)
2,378,448‌
Mortgage-Backed
Securities
-
3
.1
%
a
a
Federal
Home
Loan
Mortgage
Corporation
Collateralized
Mortgage
Obligations
Series
3649
Class
BW
-
4%
3/15/25
19,180
20,033‌
a
Pass-Through
Securities
J14649
–
3.5%
4/01/26
30,823
32,938‌
E02948
–
3.5%
7/01/26
69,662
74,496‌
J16663
–
3.5%
9/01/26
39,413
42,145‌
ZS8692
–
2.5%
4/01/33
208,304
217,638‌
387,250‌
a
Federal
National
Mortgage
Association
Pass-Through
Securities
AR8198
–
2.5%
3/01/23
26,914
28,074‌
MA1502
–
2.5%
7/01/23
24,261
25,307‌
995755
–
4.5%
5/01/24
4,191
4,405‌
AB1769
–
3%
11/01/25
33,616
35,409‌
AB3902
–
3%
11/01/26
67,251
70,792‌
AK3264
–
3%
2/01/27
53,682
56,785‌
AB6291
–
3%
9/01/27
289,951
306,393‌
MA3189
–
2.5%
11/01/27
250,782
261,592‌
MA3791
–
2.5%
9/01/29
477,854
501,010‌
BM5708
–
3%
12/01/29
264,241
278,960‌
AS7701
–
2.5%
8/01/31
1,109,326
1,166,015‌
MA3540
–
3.5%
12/01/33
150,360
160,973‌
2,895,715‌
a
Government
National
Mortgage
Association
Pass-Through
Securities
5255
–
3%
12/20/26
65,802
69,079‌
a
a
a
$
Principal
Amount
$
Value
a
a
a
Non-Government
Agency
Collateralized
Mortgage
Obligations
JPMorgan
Mortgage
Trust
(JPMMT)
Series
2014-5
Class
A1
-
2.91041%
10/25/29
(c)
(d)
96,077
98,967‌
Series
2016-3
Class
2A1
-
3%
10/25/46
(c)
(d)
288,294
291,269‌
Series
2017-3
Class
2A2
-
2.5%
8/25/47
(c)
(d)
308,501
312,572‌
Series
2020-7
Class
A4
-
3%
1/25/51
(c)
(d)
218,054
221,173‌
Series
2020-8
Class
A4
-
3%
3/25/51
(c)
(d)
283,083
286,009‌
Series
2021-6
Class
A4
-
2.5%
10/25/51
(c)
(d)
682,423
699,971‌
Series
2021-8
Class
A4
-
2.5%
12/25/51
500,000
514,082‌
JPMorgan
Wealth
Management
(JPMWM)
Series
2020-ATR1
Class
A4
-
3%
2/25/50
(c)
(d)
274,120
275,812‌
Sequoia
Mortgage
Trust
(SEMT)
Series
2019-CH2
Class
A1
-
4.5%
8/25/49
(c)
(d)
294,101
296,787‌
Series
2019-CH3
Class
A10
-
4%
9/25/49
(c)
(d)
38,621
38,703‌
Series
2019-4
Class
A4
-
3.5%
11/25/49
(c)
(d)
21,997
22,073‌
Series
2020-2
Class
A4
-
3.5%
3/25/50
(c)
(d)
77,714
78,413‌
Series
2020-3
Class
A4
-
3%
4/25/50
(c)
(d)
129,978
131,608‌
3,267,439‌
a
Total
Mortgage-Backed
Securities
(Cost
$6,489,185)
6,619,483‌
U.S.
Treasuries
-
28
.1
%
a
a
U.S.
Treasury
Notes
1.75%
7/31/21
3,000,000
3,004,250‌
1.125%
8/31/21
2,000,000
2,003,596‌
1.5%
9/30/21
2,000,000
2,007,209‌
1.5%
10/31/21
3,000,000
3,014,418‌
1.875%
11/30/21
2,000,000
2,015,198‌
1.75%
2/28/22
2,000,000
2,022,411‌
0.375%
3/31/22
3,000,000
3,006,675‌
1.875%
4/30/22
1,000,000
1,014,886‌
1.75%
4/30/22
2,000,000
2,027,740‌
2.125%
6/30/22
2,000,000
2,040,492‌
2%
7/31/22
1,000,000
1,020,625‌
1.875%
7/31/22
1,000,000
1,019,219‌
1.875%
8/31/22
2,000,000
2,040,859‌
2%
11/30/22
3,000,000
3,078,164‌
2%
2/15/23
1,000,000
1,029,395‌
2.5%
3/31/23
2,000,000
2,080,039‌
1.625%
5/31/23
2,000,000
2,053,203‌
2.5%
8/15/23
2,000,000
2,094,531‌
2.125%
11/30/23
2,000,000
2,086,758‌
2.125%
2/29/24
2,000,000
2,092,852‌
2%
4/30/24
1,000,000
1,044,570‌
1.25%
8/31/24
3,000,000
3,071,367‌
0.375%
4/30/25
1,000,000
989,453‌
2.75%
8/31/25
2,000,000
2,166,719‌
0.5%
2/28/26
4,000,000
3,940,078‌
0.75%
5/31/26
2,000,000
1,988,750‌
1.5%
8/15/26
2,000,000
2,059,922‌
1.625%
10/31/26
4,000,000
4,143,906‌
a
Total
U.S.
Treasuries
(Cost
$59,452,390)
60,157,285‌
4
Balanced
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
Cash
Equivalents
-
8
.4
%
a
a
Shares
$
Value
a
U.S.
Treasury
Bills,
0.04%
to
0.04%,
7/20/21
to
9/09/21
(e)
18,000,000
17,999,080‌
a
Total
Cash
Equivalents
(Cost
$17,999,022)
17,999,080‌
Total
Investments
in
Securities
(Cost
$160,513,105)
213,045,610‌
Other
Assets
Less
Other
Liabilities
-  0.3%
625,786‌
Net
Assets
-
100%
213,671,396‌
Net
Asset
Value
Per
Share
-
Investor
Class
16.93
Net
Asset
Value
Per
Share
-
Institutional
Class
16.94
(a)
Foreign
domiciled
entity.
(b)
Non-income
producing
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
This
security
may
be
resold
in
transactions
that
are
exempt
from
registration,
normally
to
qualified
institutional
buyers.
(d)
The
interest
rate
resets
periodically
based
on
the
weighted
average
coupons
of
the
underlying
mortgage-related
or
asset-backed
obligations.
(e)
Interest
rates
presented
represent
the
effective
yield
at
June
30,
2021.
5
Core
Plus
Income
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Corporate
Bonds
-
30
.3
%
a
a
a
$
Principal
Amount
$
Value
a
a
Abercrombie
&
Fitch
Management
Co.
8.75%
7/15/25
(a)
1,458,000
1,618,307‌
Alexandria
Real
Estate
Equities,
Inc.
3.95%
1/15/28
366,000
413,789‌
American
Airlines
Group,
Inc.
3.75%
3/01/25
(a)
1,000,000
922,665‌
American
Airlines
Inc/AAdvantage
Loyalty
IP
Ltd.
5.5%
4/20/26
(a)
1,000,000
1,060,000‌
Ashtead
Capital,
Inc.
4.375%
8/15/27
(a)
1,000,000
1,050,000‌
4%
5/01/28
(a)
670,000
706,012‌
Berkshire
Hathaway
Finance
Corp.
4.25%
1/15/49
500,000
622,346‌
Booking
Holdings,
Inc.
3.55%
3/15/28
464,000
518,459‌
Boston
Properties
LP
3.125%
9/01/23
555,000
582,124‌
Broadcom,
Inc.
3.459%
9/15/26
1,014,000
1,105,000‌
3.419%
4/15/33
(a)
350,000
367,960‌
Calumet
Specialty
Products
Partners
LP/
Calumet
Finance
Corp.
7.625%
1/15/22
191,000
191,366‌
Carlisle
Cos.,
Inc.
3.5%
12/01/24
532,000
574,387‌
3.75%
12/01/27
500,000
557,392‌
Charter
Communications
Operating
LLC/
Charter
Communications
Operating
Capital
4.2%
3/15/28
650,000
736,569‌
Choice
Hotels
International,
Inc.
3.7%
1/15/31
250,000
271,369‌
Compass
Group
Diversified
Holdings
LLC
5.25%
4/15/29
(a)
1,000,000
1,041,250‌
Cox
Communications,
Inc.
3.5%
8/15/27
(a)
842,000
925,395‌
Delta
Air
Lines
Inc/SkyMiles
IP
Ltd.
4.5%
10/20/25
(a)
560,000
602,052‌
4.75%
10/20/28
(a)
1,100,000
1,223,823‌
Devon
Energy
Corp.
5.25%
10/15/27
(a)
325,000
350,422‌
4.5%
1/15/30
(a)
920,000
1,012,277‌
Diamondback
Energy,
Inc.
2.875%
12/01/24
600,000
634,139‌
5.375%
5/31/25
289,000
297,021‌
3.25%
12/01/26
75,000
80,452‌
3.5%
12/01/29
100,000
107,143‌
Donnelley
Financial
Solutions,
Inc.
8.25%
10/15/24
905,000
940,295‌
Drax
Finco
PLC
6.625%
11/01/25
(a)
(b)
1,000,000
1,035,745‌
Element
Fleet
Management
Corp.
3.85%
6/15/25
(a)
(b)
1,000,000
1,077,142‌
Energy
Transfer
LP
2.9%
5/15/25
500,000
526,464‌
4.75%
1/15/26
200,000
225,367‌
Enterprise
Products
Operating
LLC
4.45%
2/15/43
990,000
1,174,327‌
EPR
Properties
5.25%
7/15/23
500,000
528,423‌
4.75%
12/15/26
250,000
271,331‌
4.95%
4/15/28
830,000
897,260‌
a
a
a
$
Principal
Amount
$
Value
a
a
EQT
Corp.
3%
10/01/22
801,000
819,022‌
Essential
Properties
LP
2.95%
7/15/31
1,500,000
1,501,936‌
Expedia
Group,
Inc.
3.8%
2/15/28
484,000
526,708‌
3.25%
2/15/30
90,000
94,095‌
Highwoods
Realty
LP
2.6%
2/01/31
500,000
503,940‌
Host
Hotels
&
Resorts
LP
Series
H
Series
H
3.375%
12/15/29
612,000
642,469‌
iStar,
Inc.
4.25%
8/01/25
1,375,000
1,418,381‌
L
Brands,
Inc.
6.694%
1/15/27
2,445,000
2,886,653‌
Lennar
Corp.
4.75%
5/30/25
622,000
699,122‌
Level
3
Financing,
Inc.
5.25%
3/15/26
750,000
775,013‌
Lexington
Realty
Trust
2.7%
9/15/30
500,000
509,014‌
Markel
Corp.
4.9%
7/01/22
250,000
260,555‌
3.625%
3/30/23
200,000
210,231‌
3.5%
11/01/27
550,000
605,177‌
Marriott
International,
Inc.
Series
HH
Series
HH
2.85%
4/15/31
500,000
508,231‌
Marvell
Technology,
Inc.
4.2%
6/22/23
(a)
300,000
319,052‌
Masonite
International
Corp.
5.375%
2/01/28
(a)
850,000
903,520‌
MasTec,
Inc.
4.5%
8/15/28
(a)
500,000
527,415‌
Matador
Resources
Co.
5.875%
9/15/26
650,000
670,377‌
Micron
Technology,
Inc.
4.185%
2/15/27
500,000
564,605‌
Mileage
Plus
Holdings
LLC/Mileage
Plus
Intellectual
Property
Assets
Ltd.
6.5%
6/20/27
(a)
1,355,000
1,493,549‌
Molex
Electronic
Technologies
LLC
3.9%
4/15/25
(a)
565,000
580,495‌
MPLX
LP
4.875%
6/01/25
190,000
214,627‌
4%
3/15/28
85,000
95,067‌
4.7%
4/15/48
551,000
641,793‌
NGL
Energy
Partners
LP/NGL
Energy
Finance
Corp.
7.5%
11/01/23
1,518,000
1,497,127‌
6.125%
3/01/25
833,000
757,618‌
7.5%
4/15/26
400,000
365,800‌
Occidental
Petroleum
Corp.
3.4%
4/15/26
715,000
733,093‌
4.3%
8/15/39
100,000
95,700‌
Office
Properties
Income
Trust
4.15%
2/01/22
150,000
152,337‌
4%
7/15/22
1,733,000
1,790,241‌
OneMain
Finance
Corp.
5.375%
11/15/29
900,000
980,766‌
PDC
Energy,
Inc.
6.125%
9/15/24
813,000
834,028‌
5.75%
5/15/26
1,777,000
1,858,618‌
6
Core
Plus
Income
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
a
a
a
$
Principal
Amount
$
Value
a
a
Physicians
Realty
LP
4.3%
3/15/27
1,271,000
1,434,907‌
Plains
All
American
Pipeline
LP/PAA
Finance
Corp.
3.55%
12/15/29
798,000
841,135‌
4.3%
1/31/43
75,000
76,105‌
QVC,
Inc.
4.375%
3/15/23
500,000
527,870‌
Qwest
Corp.
6.75%
12/01/21
1,250,000
1,280,469‌
RELX
Capital,
Inc.
4%
3/18/29
500,000
568,825‌
Sirius
XM
Radio,
Inc.
3.875%
8/01/22
(a)
500,000
501,525‌
Sprint
Spectrum
Co.
LLC/Sprint
Spectrum
Co.
II
LLC/Sprint
Spectrum
Co.
III
LLC
3.36%
3/20/23
(a)
43,625
43,893‌
Starwood
Property
Trust,
Inc.
4.75%
3/15/25
1,125,000
1,171,468‌
STORE
Capital
Corp.
4.5%
3/15/28
503,000
569,308‌
4.625%
3/15/29
500,000
569,059‌
T-Mobile
USA,
Inc.
2.625%
4/15/26
250,000
256,246‌
3.375%
4/15/29
1,250,000
1,293,030‌
United
Airlines
Holdings,
Inc.
4.875%
1/15/25
200,000
207,778‌
VEREIT
Operating
Partnership
LP
3.95%
8/15/27
575,000
648,185‌
VistaJet
Malta
Finance
plc/XO
Management
Holding,
Inc.
10.5%
6/01/24
(a)
(b)
1,000,000
1,091,450‌
a
Total
Corporate
Bonds
(Cost
$57,284,236)
62,365,701‌
Corporate
Convertible
Bonds
-
1
.0
%
a
a
Redwood
Trust,
Inc.
5.75%
10/01/25
500,000
506,900‌
5.625%
7/15/24
700,000
726,250‌
4.75%
8/15/23
850,000
854,250‌
a
Total
Corporate
Convertible
Bonds
(Cost
$1,859,500)
2,087,400‌
Asset-Backed
Securities
-
20
.3
%
a
a
Automobile
American
Credit
Acceptance
Receivables
Trust
(ACAR)
Series
2019-4
Class
B
-
2.43%
10/12/23
(a)
200,522
200,769‌
AmeriCredit
Automobile
Receivables
Trust
(AMCAR)
Series
2017-1
Class
D
-
3.13%
1/18/23
69,000
69,546‌
Arivo
Acceptance
Auto
Loan
Receivables
Trust
(ARIVO)
Series
2019-1
Class
A
-
2.99%
7/15/24
(a)
343,616
347,457‌
Series
2021-1A
Class
A
-
1.19%
1/15/27
(a)
164,345
164,725‌
CarMax
Auto
Owner
Trust
(CARMX)
Series
2017-4
Class
C
-
2.7%
10/16/23
51,000
51,498‌
Carvana
Auto
Receivables
Trust
(CRVNA)
Series
2019-1A
Class
C
-
3.5%
2/15/24
(a)
700,000
711,454‌
a
a
a
$
Principal
Amount
$
Value
a
a
DT
Auto
Owner
Trust
(DTAOT)
Series
2019-3A
Class
D
-
2.96%
4/15/25
(a)
1,000,000
1,034,251‌
Enterprise
Fleet
Financing
LLC
(EFF)
Series
2019-2
Class
A2
-
2.29%
2/20/25
(a)
264,201
267,944‌
Exeter
Automobile
Receivables
Trust
(EART)
Series
2017-3A
Class
C
-
3.68%
7/17/23
(a)
58,251
59,103‌
First
Investors
Auto
Owner
Trust
(FIAOT)
Series
2017-1A
Class
C
-
2.95%
4/17/23
(a)
34,870
34,909‌
Series
2017-1A
Class
D
-
3.6%
4/17/23
(a)
300,000
301,842‌
Series
2017-3A
Class
C
-
3%
1/16/24
(a)
359,284
361,860‌
Series
2017-3A
Class
D
-
3.44%
3/15/24
(a)
571,000
583,014‌
Series
2018-1A
Class
C
-
3.69%
6/17/24
(a)
523,752
526,586‌
GLS
Auto
Receivables
Issuer
Trust
(GCAR)
Series
2019-2A
Class
A
-
3.06%
4/17/23
(a)
1,763
1,765‌
Series
2019-3A
Class
A
-
2.58%
7/17/23
(a)
23,578
23,693‌
Series
2019-4A
Class
A
-
2.47%
11/15/23
(a)
101,032
101,698‌
Series
2020-1A
Class
A
-
2.17%
2/15/24
(a)
151,244
152,122‌
Series
2020-2A
Class
B
-
3.16%
6/16/25
(a)
750,000
778,151‌
JPMorgan
Chase
Bank
NA
(CACLN)
Series
2020-1
Class
D
-
1.886%
1/25/28
(a)
516,719
520,562‌
Securitized
Term
Auto
Loan
Receivables
Trust
(SSTRT)
Series
2019-CRTA
Class
C
-
2.849%
3/25/26
(a)
(b)
421,047
429,879‌
a
6,722,828‌
a
Collateralized
Loan
Obligations
ABPCI
Direct
Lending
Fund
CLO
X
LP
(ABPCI)
Series
2020-10A
Class
B1
-
2.53825%
1/20/32
Floating
Rate
(Qtrly
LIBOR
+
235)
(a)
(b)
(c)
1,000,000
999,993‌
Ballyrock
CLO
Ltd.
(BALLY)
Series
2016-1A
Class
BR2
-
1.53375%
10/15/28
Floating
Rate
(Qtrly
LIBOR
+
135)
(a)
(b)
(c)
1,000,000
999,998‌
BlackRock
Elbert
CLO
V
Ltd.
(ELB)
Series
5A
Class
A1
-
2.01888%
12/15/31
Floating
Rate
(Qtrly
LIBOR
+
190)
(a)
(b)
(c)
500,000
500,924‌
Blackrock
Rainier
CLO
VI
Ltd.
(BLKMM)
Series
2021-6A
Class
B
-
2.23762%
4/20/33
Floating
Rate
(Qtrly
LIBOR
+
205)
(a)
(b)
(c)
1,800,000
1,799,984‌
Brightwood
Capital
MM
CLO
Ltd.
(BWCAP)
Series
2020-1A
Class
A
-
2.01888%
12/15/28
Floating
Rate
(Qtrly
LIBOR
+
190)
(a)
(b)
(c)
1,070,528
1,072,092‌
Cerberus
Loan
Funding
XXIX
LP
(CERB)
Series
2020-2A
Class
B
-
2.78375%
10/15/32
Floating
Rate
(Qtrly
LIBOR
+
260)
(a)
(b)
(c)
500,000
499,997‌
Cerberus
Loan
Funding
XXVIII
LP
(CERB)
Series
2020-1A
Class
B
-
2.73375%
10/15/31
Floating
Rate
(Qtrly
LIBOR
+
255)
(a)
(b)
(c)
500,000
500,723‌
Series
2020-1A
Class
C
-
3.88375%
10/15/31
Floating
Rate
(Qtrly
LIBOR
+
370)
(a)
(b)
(c)
500,000
500,717‌
Cerberus
Loan
Funding
XXXII
LP
(CERB)
Series
2021-2A
Class
B
4/22/33
Floating
Rate
(Qtrly
LIBOR
+
190)
(a)
(b)
(c)
1,500,000
1,499,996‌
Fortress
Credit
Opportunities
XV
CLO
Ltd.
(FCO)
Series
2021-15A
Class
B
-
2.04513%
4/25/33
Floating
Rate
(Qtrly
LIBOR
+
185)
(a)
(b)
(c)
1,500,000
1,499,946‌
Golub
Capital
Partners
CLO
31M
Ltd.
(GOCAP)
Series
2016-31A
Class
CR
-
3.07638%
8/05/30
Floating
Rate
(Qtrly
LIBOR
+
290)
(a)
(b)
(c)
1,000,000
996,030‌
7
a
a
a
$
Principal
Amount
$
Value
a
a
Lake
Shore
MM
CLO
III
LLC
(LSHR)
Series
2020-1A
Class
B
-
3.38375%
10/15/29
Floating
Rate
(Qtrly
LIBOR
+
320)
(a)
(c)
500,000
500,720‌
Maranon
Loan
Funding
Ltd.
(MRNON)
Series
2021-2RA
Class
BR
-
2.14349%
7/15/33
Floating
Rate
(Qtrly
LIBOR
+
205)
(a)
(b)
(c)
2,500,000
2,500,000‌
Palmer
Square
Loan
Funding
Ltd.
(PSTAT)
Series
2021-1A
Class
B
-
1.95495%
4/20/29
Floating
Rate
(Qtrly
LIBOR
+
180)
(a)
(b)
(c)
1,000,000
999,993‌
a
14,871,113‌
a
Consumer
&
Specialty
Finance
Affirm
Asset
Securitization
Trust
(AFFRM)
Series
2020-A
Class
A
-
2.1%
2/18/25
(a)
250,000
252,322‌
Series
2020-A
Class
B
-
3.54%
2/18/25
(a)
250,000
254,132‌
Series
2021-A
Class
D
-
3.49%
8/15/25
(a)
750,000
760,955‌
Bankers
Healthcare
Group
Securitization
Trust
(BHG)
Series
2020-A
Class
A
-
2.56%
9/17/31
(a)
505,655
513,761‌
BHG
Securitization
Trust
(BHG)
Series
2021-A
Class
A
-
1.42%
11/17/33
(a)
500,000
500,315‌
Conn's
Receivables
Funding
LLC
(CONN)
Series
2020-A
Class
A
-
1.71%
6/16/25
(a)
74,045
74,129‌
Driven
Brands
Funding
LLC
(HONK)
Series
2019-2A
Class
A2
-
3.981%
10/20/49
(a)
492,500
523,308‌
Foundation
Finance
Trust
(FFIN)
Series
2019-1A
Class
A
-
3.86%
11/15/34
(a)
292,473
302,169‌
Freed
ABS
Trust
(FREED)
Series
2019-2
Class
B
-
3.19%
11/18/26
(a)
400,000
404,723‌
Series
2020-FP1
Class
A
-
2.52%
3/18/27
(a)
100,824
101,344‌
Series
2020-FP1
Class
B
-
3.06%
3/18/27
(a)
500,000
507,141‌
Jersey
Mike's
Funding
(JMIKE)
Series
2019-1A
Class
A2
-
4.433%
2/15/50
(a)
1,000,000
1,076,056‌
Marlette
Funding
Trust
(MFT)
Series
2018-4A
Class
B
-
4.21%
12/15/28
(a)
125,733
126,259‌
Series
2019-2A
Class
B
-
3.53%
7/16/29
(a)
500,000
506,995‌
Series
2019-3A
Class
A
-
2.69%
9/17/29
(a)
43,416
43,608‌
Series
2019-4A
Class
A
-
2.39%
12/17/29
(a)
105,878
106,431‌
Oasis
LLC
(OASIS)
Series
2020-1A
Class
A
-
3.8196%
1/15/32
(a)
168,841
169,641‌
OneMain
Financial
Issuance
Trust
(OMFIT)
Series
2015-3A
Class
A
-
3.63%
11/20/28
(a)
60,972
61,095‌
Pagaya
AI
Debt
Selection
Trust
(PAID)
Series
2020-3
Class
B
-
3.22%
5/17/27
(a)
1,000,000
1,021,560‌
Series
2021
Class
B
-
(0.01)%
1/16/29
1,000,000
1,001,119‌
Series
2021-1
Class
A
-
1.18%
11/15/27
(a)
1,482,652
1,486,325‌
Small
Business
Lending
Trust
(SBIZ)
Series
2020-A
Class
A
-
2.62%
12/15/26
(a)
110,113
110,489‌
SoFi
Consumer
Loan
Program
Trust
(SCLP)
Series
2018-4
Class
C
-
4.17%
11/26/27
(a)
750,000
765,377‌
Series
2019-3
Class
A
-
2.9%
5/25/28
(a)
51,868
52,143‌
Upgrade
Receivables
Trust
(UPGR)
Series
2019-2A
Class
B
-
3.51%
10/15/25
(a)
189,026
189,305‌
Upstart
Securitization
Trust
(UPST)
Series
2017-2
Class
C
-
5.59%
3/20/25
(a)
116,024
116,240‌
Series
2018-2
Class
C
-
5.494%
12/22/25
(a)
75,569
75,896‌
Series
2019-2
Class
B
-
3.734%
9/20/29
(a)
750,000
760,797‌
Series
2020-1
Class
A
-
2.322%
4/22/30
(a)
138,554
139,511‌
Series
2021-1
Class
B
-
1.89%
3/20/31
(a)
250,000
251,656‌
Series
2021-1
Class
C
-
4.06%
3/20/31
(a)
250,000
256,166‌
Series
2021-2
Class
A
-
0.91%
6/20/31
(a)
240,617
240,898‌
a
a
a
$
Principal
Amount
$
Value
a
a
Zaxby's
Funding
LLC
(ZAXBY)
Series
2021-1A
Class
A2
-
3.238%
7/30/51
(a)
1,250,000
1,273,193‌
a
14,025,059‌
a
Equipment
Amur
Equipment
Finance
Receivables
IX
LLC
(AXIS)
Series
2021-1A
Class
D
-
2.3%
11/22/27
(a)
500,000
500,450‌
BCC
Funding
Corp
XVI
LLC
(BCCFC)
Series
2019-1A
Class
A2
-
2.46%
8/20/24
(a)
248,299
251,567‌
CCG
Receivables
Trust
(CCG)
Series
2018-1
Class
B
-
3.09%
6/16/25
(a)
390,106
390,507‌
Series
2019-1
Class
B
-
3.22%
9/14/26
(a)
750,000
773,980‌
Series
2019-2
Class
B
-
2.55%
3/15/27
(a)
300,000
308,474‌
Dell
Equipment
Finance
Trust
(DEFT)
Series
2018-2
Class
C
-
3.72%
10/22/23
(a)
225,000
226,650‌
Series
2019-1
Class
C
-
3.14%
3/22/24
(a)
750,000
759,386‌
MMAF
Equipment
Finance
LLC
(MMAF)
Series
2016-AA
Class
A4
-
1.76%
1/17/23
(a)
32,694
32,773‌
Series
2017-AA
Class
A4
-
2.41%
8/16/24
(a)
163,536
164,270‌
Pawnee
Equipment
Receivables
Series
LLC
(PWNE)
Series
2019-1
Class
A2
-
2.29%
10/15/24
(a)
243,332
245,771‌
Series
2019-1
Class
D
-
2.86%
10/15/24
(a)
500,000
492,360‌
SCF
Equipment
Leasing
LLC
(SCFET)
Series
2019-2A
Class
A2
-
2.47%
4/20/26
(a)
186,000
190,546‌
a
4,336,734‌
a
Other
Hilton
Grand
Vacations
Trust
(HGVT)
Series
2020-AA
Class
B
-
4.22%
2/25/39
(a)
358,985
382,071‌
Octane
Receivables
Trust
(OCTL)
Series
2019-1A
Class
A
-
3.16%
9/20/23
(a)
261,799
264,156‌
Series
2020-1A
Class
B
-
1.98%
6/20/25
(a)
940,000
953,248‌
Sierra
Timeshare
Receivables
Funding
LLC
(SRFC)
Series
2019-2A
Class
B
-
2.82%
5/20/36
(a)
292,799
300,084‌
1,899,559‌
a
Total
Asset-Backed
Securities
(Cost
$41,380,271)
41,855,293‌
Commercial
Mortgage-Backed
Securities
-
10
.1
%
a
a
ACRES
Commercial
Realty
Corp.
(XAN)
Series
2020-RSO8
Class
C
-
2.62448%
3/15/35
Floating
Rate
(Mthly
LIBOR
+
215)
(a)
1,250,000
1,252,656‌
Series
2020-RSO8
Class
D
-
2.62448%
3/15/35
Floating
Rate
(Mthly
LIBOR
+
250)
(a)
1,276,000
1,278,396‌
BFLD
Trust
(BFLD)
Series
2020-OBRK
Class
A
-
2.123%
11/15/22
Floating
Rate
(Mthly
LIBOR
+
205)
(a)
940,000
952,765‌
BPCRE
Ltd.
(BPCRE)
Series
2021-FL1
Class
D
-
2.68175%
2/15/37
Floating
Rate
(Mthly
LIBOR
+
260)
(a)
(b)
1,193,000
1,197,175‌
GPMT
Ltd.
(GPMT)
Series
2018-FL1
Class
C
-
2.24338%
11/19/35
Floating
Rate
(Mthly
LIBOR
+
215)
(a)
(b)
1,028,000
1,028,333‌
Series
2018-FL1
Class
D
-
3.04338%
11/21/35
Floating
Rate
(Mthly
LIBOR
+
295)
(a)
(b)
1,096,000
1,090,693‌
8
Core
Plus
Income
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
a
a
a
$
Principal
Amount
$
Value
a
a
Series
2021-FL3
Class
A
-
1.3325%
7/16/35
Floating
Rate
(Mthly
LIBOR
+
125)
(a)
(b)
2,000,000
2,000,000‌
HGI
CRE
CLO
Ltd.
(HGI)
Series
2021-FL1
Class
AS
-
1.47463%
6/16/36
Floating
Rate
(Mthly
LIBOR
+
140)
(a)
(b)
1,500,000
1,500,000‌
Hilton
USA
Trust
(HILT)
Series
2016-SFP
Class
E
-
5.5191%
11/05/35
(a)
840,000
851,452‌
LoanCore
Issuer
Ltd.
(LNCR)
Series
2018-CRE1
Class
C
-
2.62288%
5/15/28
Floating
Rate
(Mthly
LIBOR
+
255)
(a)
(b)
1,000,000
1,000,000‌
Series
2021-CRE5
Class
A
-
1.37288%
7/15/36
Floating
Rate
(Mthly
LIBOR
+
130)
(a)
(b)
2,000,000
2,000,000‌
PFP
Ltd.
(PFP)
Series
2019-5
Class
C
-
2.07463%
4/14/36
Floating
Rate
(Mthly
LIBOR
+
200)
(a)
(b)
1,500,000
1,503,390‌
RETL
(RETL)
Series
2019-RVP
Class
C
-
2.173%
3/15/36
Floating
Rate
(Mthly
LIBOR
+
210)
(a)
685,980
685,639‌
TPG
Real
Estate
Finance
Issuer
LTD
(TRTX)
Series
2018-FL2
Class
B
-
1.73175%
11/15/37
Floating
Rate
(Mthly
LIBOR
+
165)
(a)
(b)
1,000,000
1,000,056‌
VMC
Finance
LLC
(VMC)
Series
2018-FL2
Class
C
-
2.03175%
10/15/35
Floating
Rate
(Mthly
LIBOR
+
195)
(a)
1,400,000
1,403,596‌
Series
2021-FL4
Class
A
-
1.1825%
6/16/36
Floating
Rate
(Mthly
LIBOR
+
110)
(a)
2,000,000
2,000,000‌
a
Total
Commercial
Mortgage-Backed
Securities
(Cost
$20,709,713)
20,744,151‌
Mortgage-Backed
Securities
-
0
.8
%
a
a
Federal
Home
Loan
Mortgage
Corporation
Pass-Through
Securities
Pool#
C91945
–
3%
8/01/37
409,042
428,606‌
a
Federal
National
Mortgage
Association
Pass-Through
Securities
Pool#
932836
–
3%
12/01/25
26,798
28,204‌
Pool#
MA3443
–
4%
8/01/48
205,256
219,099‌
247,303‌
a
Non-Government
Agency
Collateralized
Mortgage
Obligations
COLT
Mortgage
Loan
Trust
(COLT)
Series
2019-4
Class
A1
-
2.579%
11/25/49
(a)
(c)
85,546
85,954‌
Deephaven
Residential
Mortgage
Trust
(DRMT)
Series
2019-3A
Class
A1
-
2.964%
7/25/59
(a)
(c)
156,007
156,665‌
Series
2019-4A
Class
A1
-
2.791%
10/25/59
(a)
(c)
196,403
197,939‌
Flagstar
Mortgage
Trust
(FSMT)
Series
2017-1
Class
2A2
-
3%
3/25/47
(a)
(c)
120,469
122,823‌
JPMorgan
Mortgage
Trust
(JPMMT)
Series
2016-3
Class
2A1
-
3%
10/25/46
(a)
(c)
115,318
116,507‌
Series
2017-3
Class
2A2
-
2.5%
8/25/47
(a)
(c)
107,975
109,400‌
a
a
a
$
Principal
Amount
$
Value
a
a
Series
2018-6
Class
2A2
-
3%
12/25/48
(a)
(c)
80,946
82,894‌
Sequoia
Mortgage
Trust
(SEMT)
Series
2019-CH2
Class
A1
-
4.5%
8/25/49
(a)
(c)
126,043
127,195‌
999,377‌
a
Total
Mortgage-Backed
Securities
(Cost
$1,629,452)
1,675,286‌
U.S.
Treasuries
-
30
.1
%
a
a
U.S.
Treasury
Bond
3.5%
2/15/39
2,100,000
2,627,543‌
1.875%
2/15/41
3,750,000
3,672,070‌
2.5%
5/15/46
6,900,000
7,477,336‌
2.25%
8/15/49
6,500,000
6,735,625‌
U.S.
Treasury
Notes
0.25%
8/31/25
8,000,000
7,840,938‌
1.5%
8/15/26
4,850,000
4,995,311‌
2%
11/15/26
4,650,000
4,908,475‌
2.25%
2/15/27
3,500,000
3,741,719‌
2.375%
5/15/27
2,000,000
2,153,594‌
1.125%
2/29/28
4,000,000
3,988,750‌
1.25%
5/31/28
5,000,000
5,013,281‌
1.5%
2/15/30
3,750,000
3,787,646‌
1.125%
2/15/31
5,000,000
4,854,687‌
a
Total
U.S.
Treasuries
(Cost
$60,149,291)
61,796,975‌
Non-Convertible
Preferred
Stocks
-
1
.1
%
a
Consumer
Discretionary
%
of
Net
Assets
Shares
$
Value
Internet
&
Direct
Marketing
Retail
1.1
Qurate
Retail,
Inc.
8.00%
3/15/31
20,300
2,197,475‌
a
Total
Investments
in
Securities
(Cost
$185,043,539)
192,722,281‌
Other
Assets
Less
Other
Liabilities
-  6.3%
12,850,780‌
Net
Assets
-
100%
205,573,061‌
Net
Asset
Value
Per
Share
-
Investor
Class
11.04
Net
Asset
Value
Per
Share
-
Institutional
Class
11.05
(a)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
This
security
may
be
resold
in
transactions
that
are
exempt
from
registration,
normally
to
qualified
institutional
buyers.
(b)
Foreign
domiciled
entity.
(c)
The
interest
rate
resets
periodically
based
on
the
weighted
average
coupons
of
the
underlying
mortgage-related
or
asset-backed
obligations.
9
Hickory
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Common
Stocks
-
93
.7
%
a
Communication
Services
%
of
Net
Assets
Shares
$
Value
Cable
&
Satellite
13.7
Liberty
Broadband
Corp.
(a)
Class
C
90,000
15,629,400‌
Class
A
23,750
3,994,037‌
Liberty
Media
Corp-Liberty
SiriusXM
(a)
Class
C
180,000
8,350,200‌
Class
A
50,000
2,329,000‌
a
Alternative
Carriers
7.0
Liberty
Global
PLC
-
Class
C
(a)
(b)
300,000
8,112,000‌
Liberty
Latin
America
Ltd.
-
Class
C
(a)
(b)
525,000
7,402,500‌
a
Wireless
Communication
Services
5.0
LICT
Corp.
468
11,115,000‌
a
Movies
&
Entertainment
1.5
Liberty
Media
Corp-Liberty
Braves
(a)
Class
C
105,000
2,915,850‌
Class
A
11,000
310,420‌
a
27.2
60,158,407‌
Consumer
Discretionary
Automotive
Retail
8.3
AutoZone,
Inc.
(a)
6,200
9,251,764‌
CarMax,
Inc.
(a)
70,000
9,040,500‌
a
Distributors
5.0
LKQ
Corp.
(a)
225,000
11,074,500‌
a
Internet
&
Direct
Marketing
Retail
1.8
Qurate
Retail,
Inc.
-
Class
A
300,000
3,927,000‌
a
15.1
33,293,764‌
Industrials
Research
&
Consulting
Services
5.8
CoStar
Group,
Inc.
(a)
82,500
6,832,650‌
Dun
&
Bradstreet
Holdings,
Inc.
(a)
280,000
5,983,600‌
a
Industrial
Machinery
4.6
Ingersoll
Rand,
Inc.
(a)
130,000
6,345,300‌
IDEX
Corp.
17,500
3,850,875‌
a
Aerospace
&
Defense
2.9
HEICO
Corp.
-
Class
A
52,000
6,457,360‌
a
13.3
29,469,785‌
Financials
Regional
Banks
4.7
First
Republic
Bank
33,000
6,176,610‌
First
Hawaiian,
Inc.
150,000
4,251,000‌
a
Property
&
Casualty
Insurance
4.3
Markel
Corp.
(a)
8,000
9,493,680‌
a
Financial
Exchanges
&
Data
2.8
MarketAxess
Holdings,
Inc.
13,000
6,026,670‌
a
11.8
25,947,960‌
a
Information
Technology
%
of
Net
Assets
Shares
$
Value
Application
Software
4.8
Guidewire
Software,
Inc.
(a)
57,500
6,481,400‌
ACI
Worldwide,
Inc.
(a)
110,000
4,085,400‌
a
Data
Processing
&
Outsourced
Services
2.4
Black
Knight,
Inc.
(a)
67,500
5,263,650‌
a
Electronic
Components
2.2
Dolby
Laboratories,
Inc.
-
Class
A
50,000
4,914,500‌
a
9.4
20,744,950‌
Materials
Construction
Materials
5.3
Martin
Marietta
Materials,
Inc.
18,500
6,508,485‌
Vulcan
Materials
Co.
30,000
5,222,100‌
a
Specialty
Chemicals
3.5
Axalta
Coating
Systems
Ltd.
(a)
(b)
255,000
7,774,950‌
a
8.8
19,505,535‌
Health
Care
Health
Care
Services
5.3
Laboratory
Corp.
of
America
Holdings
(a)
42,500
11,723,625‌
Other
Other
2.8
EverArc
Holdings
Ltd.
(b)
(c)
500,000
6,250,000‌
a
Total
Common
Stocks
(Cost
$107,443,025)
207,094,026‌
Non-Convertible
Preferred
Stocks
-
1
.7
%
a
Consumer
Discretionary
Internet
&
Direct
Marketing
Retail
1.7
Qurate
Retail,
Inc.
8.00%
3/15/31
35,000
3,788,750‌
Warrants
-
0
.1
%
a
EverArc
Holdings
Ltd.
(Cost
$5,000)
(b)
(d)
500,000
112,500‌
Cash
Equivalents
-
3
.6
%
a
a
Shares
$
Value
a
U.S.
Treasury
Bills,
0.04%
to
0.04%,
7/27/21
to
8/17/21
(e)
8,000,000
7,999,690‌
a
Total
Cash
Equivalents
(Cost
$7,999,732)
7,999,690‌
Total
Investments
in
Securities
(Cost
$118,029,740)
218,994,966‌
Other
Assets
Less
Other
Liabilities
-  0.9%
2,008,043‌
Net
Assets
-
100%
221,003,009‌
(a)
Non-income
producing
(b)
Foreign
domiciled
entity.
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
This
security
may
be
resold
in
transactions
that
are
exempt
from
registration,
normally
to
qualified
institutional
buyers.
10
Hickory
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
(d)
The
expiration
date
has
yet
to
be
determined
but
will
be
set
based
on
the
terms
outlined
in
the
prospectus.
(e)
Interest
rates
presented
represent
the
effective
yield
at
June
30,
2021.
11
Nebraska
Tax-Free
Income
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Municipal
Bonds
-
98
.1
%
a
a
%
of
Net
Assets
$
Principal
Amount
$
Value
a
a
Arizona
0.3
Arizona
Industrial
Development
Authority
Revenue
5%
2/01/23
100,000
107,142‌
a
California
0.7
San
Diego
County
Regional
Airport
Authority
Revenue
Series
B
5%
7/01/25
200,000
234,657‌
a
Colorado
0.3
Colorado
Bridge
Enterprise
Revenue
4%
12/31/23
100,000
108,784‌
a
Florida
0.7
State
of
Florida
General
Obligation
4%
6/01/36
200,000
224,105‌
a
Nebraska
90.5
Ashland-Greenwood
Public
Schools
General
Obligation
3%
12/15/42
100,000
111,349‌
Cass
County
School
District
No.
22
General
Obligation
2.05%
12/15/25
375,000
379,759‌
2.2%
12/15/26
250,000
253,285‌
City
of
Bellevue
NE
General
Obligation
Series
A
3%
9/15/32
500,000
537,430‌
City
of
Blair
NE
Water
System
Revenue
AMT,
2.65%
12/15/24
100,000
100,180‌
2.85%
12/15/25
100,000
100,188‌
3%
12/15/26
100,000
100,174‌
3.1%
12/15/27
100,000
100,153‌
3.2%
12/15/28
100,000
100,148‌
City
of
Columbus
NE
Combined
Utilities
System
Revenue
4%
6/15/33
200,000
244,009‌
AGM
Insured,
4%
12/15/26
100,000
117,319‌
4%
12/15/27
100,000
118,102‌
Series
B
3%
7/15/21
370,000
370,367‌
City
of
Grand
Island
NE
Combined
Utility
System
Revenue
Series
A
AGM
Insured,
4%
8/15/35
205,000
246,563‌
4%
8/15/36
125,000
149,872‌
City
of
Grand
Island
NE
General
Obligation
3%
11/15/27
150,000
164,962‌
3%
11/15/30
150,000
162,947‌
City
of
Gretna
NE
4%
12/15/25
500,000
559,874‌
City
of
Lincoln
NE
Electric
System
Revenue
5%
9/01/28
1,000,000
1,056,497‌
City
of
Lincoln
NE
General
Obligation
5%
5/15/22
100,000
104,204‌
5%
5/15/23
135,000
147,075‌
City
of
Norfolk
NE
General
Obligation
0.65%
5/15/24
375,000
375,339‌
City
of
Omaha
NE
General
Obligation
Series
A
4%
4/15/22
315,000
324,653‌
4%
4/15/23
185,000
197,457‌
4%
1/15/33
260,000
311,647‌
a
a
%
of
Net
Assets
$
Principal
Amount
$
Value
a
a
3%
4/15/34
100,000
111,775‌
3%
4/15/35
100,000
111,577‌
Series
B
3%
11/15/24
400,000
415,477‌
City
of
Omaha
NE
Sewer
Revenue
5%
11/15/22
200,000
213,367‌
5%
4/01/26
250,000
302,045‌
4%
4/01/31
350,000
401,381‌
Series
A
4%
4/01/34
100,000
122,728‌
City
of
Papillion
NE
General
Obligation
3%
9/15/24
420,000
430,263‌
County
of
Saline
NE
Revenue
3%
2/15/31
200,000
214,186‌
County
of
Sarpy
NE
1.75%
6/15/26
500,000
500,926‌
County
of
Seward
NE
General
Obligation
3%
12/15/30
605,000
639,055‌
Dawson
County
Public
Power
District
Revenue
Series
A
2%
6/15/26
170,000
170,134‌
2.1%
6/15/27
105,000
105,075‌
Series
B
2.5%
6/15/28
135,000
135,218‌
3%
6/15/29
245,000
245,580‌
3%
6/15/30
355,000
355,769‌
Dodge
County
School
District
No.
595
General
Obligation
1.9%
6/15/32
200,000
202,264‌
Douglas
County
Hospital
Authority
No.
2
Revenue
5%
5/15/26
500,000
558,613‌
5%
5/15/30
140,000
169,106‌
4%
5/15/32
700,000
805,137‌
Douglas
County
Hospital
Authority
No.
3
Revenue
5%
11/01/21
100,000
101,562‌
5%
11/01/22
250,000
265,651‌
Douglas
County
School
District
No.
59
NE
General
Obligation
3%
12/15/32
100,000
106,078‌
Kearney
School
District
General
Obligation
3%
12/15/24
250,000
271,443‌
Lancaster
County
School
District
001
General
Obligation
4%
1/15/33
250,000
294,599‌
Lincoln
Airport
Authority
Revenue
AMT,
5%
7/01/27
150,000
185,418‌
Lincoln-Lancaster
County
Public
Building
Commission
Revenue
3%
12/01/25
500,000
550,975‌
Madison
County
Hospital
Authority
No.
1
Revenue
5%
7/01/21
475,000
475,000‌
5%
7/01/23
250,000
271,707‌
Metropolitan
Utilities
District
of
Omaha
Gas
System
Revenue
4%
12/01/27
450,000
503,505‌
Municipal
Energy
Agency
of
Nebraska
Revenue
5%
4/01/27
350,000
427,279‌
Series
A
5%
4/01/29
300,000
310,447‌
Nebraska
Cooperative
Republican
Platte
Enhancement
Project
Revenue
Series
A
2%
12/15/29
250,000
258,339‌
Nebraska
Educational
Health
Cultural
&
Social
Services
Finance
Authority
Revenue
4%
1/01/34
110,000
123,822‌
Nebraska
Investment
Finance
Authority
Revenue
Series
A
12
Nebraska
Tax-Free
Income
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
a
a
%
of
Net
Assets
$
Principal
Amount
$
Value
a
a
2.05%
9/01/24
120,000
124,955‌
Series
C
1.85%
3/01/23
100,000
102,308‌
2%
9/01/35
325,000
328,850‌
Nebraska
Public
Power
District
Revenue
Series
A-2
5%
1/01/24
250,000
255,658‌
Series
C
5%
1/01/32
65,000
77,126‌
5%
1/01/35
480,000
568,231‌
Nebraska
State
College
Facilities
Corp.
Revenue
AGM
Insured,
4%
7/15/28
750,000
863,129‌
Omaha
Public
Facilities
Corp.
Revenue
4%
6/01/28
585,000
673,410‌
Series
A
4%
6/01/31
155,000
190,136‌
Series
C
4%
4/01/33
340,000
404,399‌
4%
4/01/39
500,000
584,818‌
Omaha
Public
Power
District
Revenue
Series
A
2.85%
2/01/27
500,000
530,234‌
Series
C
5%
2/01/39
150,000
172,955‌
Omaha
School
District
General
Obligation
5%
12/15/29
350,000
430,432‌
5%
12/15/31
135,000
165,761‌
Omaha-Douglas
Public
Building
Commission
General
Obligation
5%
5/01/26
725,000
754,361‌
Series
B
5%
5/01/32
550,000
709,859‌
Papillion
Municipal
Facilities
Corp.
Revenue
2%
12/15/32
100,000
103,089‌
2%
12/15/34
200,000
205,363‌
Papillion-La
Vista
School
District
No.
27
General
Obligation
Series
A
2.05%
12/01/24
150,000
151,871‌
2.2%
12/01/25
150,000
151,898‌
2.3%
12/01/26
275,000
278,250‌
Series
B
4%
12/01/35
400,000
491,759‌
Papio-Missouri
River
Natural
Resource
District
General
Obligation
2.25%
12/15/21
100,000
100,164‌
5%
12/15/26
185,000
193,576‌
Public
Power
Generation
Agency
Revenue
5%
1/01/28
500,000
574,077‌
5%
1/01/32
140,000
168,204‌
Sarpy
County
School
District
No.
1
General
Obligation
5%
12/15/29
550,000
694,698‌
Southeast
Community
College
Certificates
of
Participation
3%
12/15/22
400,000
416,792‌
State
of
Nebraska
Certificates
of
Participation
Series
A
2.1%
7/15/21
860,000
860,562‌
2%
4/01/26
150,000
157,251‌
University
of
Nebraska
Facilities
Corp.
Revenue
5%
7/15/29
380,000
456,250‌
University
of
Nebraska
Revenue
5%
7/01/23
250,000
262,104‌
3%
7/01/25
100,000
110,132‌
a
a
%
of
Net
Assets
$
Principal
Amount
$
Value
a
a
2.5%
7/01/26
210,000
229,940‌
3%
7/01/27
100,000
113,737‌
5%
5/15/30
100,000
126,883‌
Upper
Republican
Natural
Resource
District
Revenue
AGM
Insured,
4%
12/15/25
245,000
258,055‌
4%
12/15/27
395,000
415,682‌
Village
of
Boys
Town
NE
Revenue
3%
9/01/28
700,000
788,185‌
3%
7/01/35
325,000
362,203‌
Westside
Community
Schools
General
Obligation
2.5%
12/01/22
250,000
258,382‌
a
31,654,783‌
a
New
Mexico
1.2
New
Mexico
Finance
Authority
Revenue
Series
C
4%
6/01/34
365,000
417,467‌
a
Texas
2.9
City
of
Austin
Tx
Airport
System
Revenue
Series
B
AMT,
5%
11/15/26
250,000
304,741‌
City
of
Austin
Tx
Electric
Utility
Revenue
Series
A
5%
11/15/35
100,000
132,641‌
County
of
Bexar
TX
General
Obligation
4%
6/15/36
500,000
569,068‌
a
1,006,450‌
a
Utah
0.4
City
of
Salt
Lake
City
UT
Public
Utilities
Revenue
5%
2/01/35
100,000
128,045‌
a
Washington
1.1
Pierce
County
School
District
No.
10
Tacoma
General
Obligation
Series
B
4%
12/01/35
100,000
124,135‌
Port
of
Seattle
WA
Revenue
Series
C
5%
5/01/26
200,000
239,929‌
a
364,064‌
a
Total
Municipal
Bonds
(Cost
$33,124,434)
34,245,497‌
Total
Investments
in
Securities
(Cost
$33,124,434)
34,245,497‌
Other
Assets
Less
Other
Liabilities
-  1.9%
648,196‌
Net
Assets
-
100%
34,893,693‌
13
Partners
III
Opportunity
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Common
Stocks
-
90
.7
%
a
Communication
Services
%
of
Net
Assets
Shares
$
Value
Cable
&
Satellite
11.5
Liberty
Media
Corp-Liberty
SiriusXM
(a)
Class
C
550,000
25,514,500‌
Class
A
250,000
11,645,000‌
Liberty
Broadband
Corp.
(a)
Class
C
150,000
26,049,000‌
Class
A
60,000
10,090,200‌
a
Interactive
Media
&
Services
10.9
Alphabet,
Inc.
-
Class
C
(a)
15,000
37,594,800‌
Facebook,
Inc.
-
Class
A
(a)
90,000
31,293,900‌
a
Alternative
Carriers
4.5
Liberty
Global
PLC
-
Class
C
(a)
(b)
1,060,000
28,662,400‌
a
26.9
170,849,800‌
Financials
Multi-Sector
Holdings
9.6
Berkshire
Hathaway,
Inc.
-
Class
B
(a)
220,000
61,142,400‌
a
Property
&
Casualty
Insurance
5.6
Markel
Corp.
(a)
30,000
35,601,300‌
a
Insurance
Brokers
4.2
Aon
plc
-
Class
A
(b)
110,000
26,263,600‌
a
Investment
Banking
&
Brokerage
3.7
The
Charles
Schwab
Corp.
325,000
23,663,250‌
a
23.1
146,670,550‌
Information
Technology
Data
Processing
&
Outsourced
Services
14.5
Visa,
Inc.
-
Class
A
135,000
31,565,700‌
Mastercard,
Inc.
-
Class
A
80,000
29,207,200‌
Fidelity
National
Information
Services,
Inc.
120,000
17,000,400‌
Black
Knight,
Inc.
(a)
180,000
14,036,400‌
a
Application
Software
3.1
Intelligent
Systems
Corp.
†
(a)
630,000
19,819,800‌
a
Semiconductors
2.6
Texas
Instruments,
Inc.
85,000
16,345,500‌
a
20.2
127,975,000‌
Consumer
Discretionary
Internet
&
Direct
Marketing
Retail
4.9
Amazon.com,
Inc.
(a)
6,000
20,640,960‌
Qurate
Retail,
Inc.
-
Class
A
800,000
10,472,000‌
a
Automotive
Retail
2.2
CarMax,
Inc.
(a)
110,000
14,206,500‌
a
7.1
45,319,460‌
Industrials
Research
&
Consulting
Services
4.8
Dun
&
Bradstreet
Holdings,
Inc.
(a)
780,000
16,668,600‌
a
Industrials  
%
of
Net
Assets
Shares
$
Value
CoStar
Group,
Inc.
(a)
170,000
14,079,400‌
a
4.8
30,748,000‌
Health
Care
Health
Care
Services
4.4
Laboratory
Corp.
of
America
Holdings
(a)
100,000
27,585,000‌
Other
Other
3.0
EverArc
Holdings
Ltd.
(b)
(c)
1,500,000
18,750,000‌
Materials
Construction
Materials
1.2
Vulcan
Materials
Co.
45,000
7,833,150‌
a
Total
Common
Stocks
(Cost
$247,085,840)
575,730,960‌
Non-Convertible
Preferred
Stocks
-
3
.0
%
a
Consumer
Discretionary
Internet
&
Direct
Marketing
Retail
3.0
Qurate
Retail,
Inc.
8.00%
3/15/31
175,000
18,943,750‌
Warrants
-
0
.0
%
a
EverArc
Holdings
Ltd.
(Cost
$15,000)
(b)
(d)
1,500,000
337,500‌
Cash
Equivalents
-
4
.6
%
a
a
Shares
$
Value
a
U.S.
Treasury
Bills,
0.04%
to
0.04%,
7/20/21
to
8/17/21
(e)
29,000,000
28,999,070‌
a
Total
Cash
Equivalents
(Cost
$28,999,175)
28,999,070‌
Total
Investments
in
Securities
(Cost
$291,934,338)
624,011,280‌
Due
from
Broker
-
19.4%
123,267,392
Securities
Sold
Short
-
(19.6)%
(
124,050,700‌
)
Other
Assets
Less
Other
Liabilities
-  1.9%
11,729,782‌
Net
Assets
-
100%
634,957,754‌
Net
Asset
Value
Per
Share
-
Investor
Class
16.26
Net
Asset
Value
Per
Share
-
Institutional
Class
17.25
Securities
Sold
Short
-
(19.6)%
Shares
$
Value
a
Invesco
QQQ
Trust
90,000
(
31,898,700‌
)
Sirius
XM
Holdings,
Inc.
1,000,000
(
6,540,000‌
)
SPDR
S&P
500
ETF
Trust
200,000
(
85,612,000‌
)
Total
Securities
Sold
Short
(proceeds
$69,422,026)
(
124,050,700‌
)
†
Non-controlled
affiliate
(a)
Non-income
producing
(b)
Foreign
domiciled
entity.
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
This
security
may
be
resold
in
transactions
that
are
exempt
from
registration,
normally
to
qualified
institutional
buyers.
14
Partners
III
Opportunity
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
(d)
The
expiration
date
has
yet
to
be
determined
but
will
be
set
based
on
the
terms
outlined
in
the
prospectus.
(e)
Interest
rates
presented
represent
the
effective
yield
at
June
30,
2021.
15
Partners
Value
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Common
Stocks
-
96
.8
%
a
Communication
Services
%
of
Net
Assets
Shares
$
Value
Interactive
Media
&
Services
10.3
Alphabet,
Inc.
-
Class
C
(a)
14,500
36,341,640‌
Facebook,
Inc.
-
Class
A
(a)
55,000
19,124,050‌
a
Cable
&
Satellite
9.8
Liberty
Broadband
Corp.
(a)
Class
C
90,000
15,629,400‌
Class
A
70,000
11,771,900‌
Liberty
Media
Corp-Liberty
SiriusXM
(a)
Class
C
435,000
20,179,650‌
Class
A
120,000
5,589,600‌
a
Alternative
Carriers
6.8
Liberty
Global
PLC
-
Class
C
(a)
(b)
725,000
19,604,000‌
Liberty
Latin
America
Ltd.
-
Class
C
(a)
(b)
1,205,550
16,998,255‌
a
26.9
145,238,495‌
Financials
Multi-Sector
Holdings
5.1
Berkshire
Hathaway,
Inc.
-
Class
B
(a)
100,000
27,792,000‌
a
Investment
Banking
&
Brokerage
4.4
The
Charles
Schwab
Corp.
325,000
23,663,250‌
a
Insurance
Brokers
4.0
Aon
plc
-
Class
A
(b)
90,000
21,488,400‌
a
Property
&
Casualty
Insurance
3.2
Markel
Corp.
(a)
14,500
17,207,295‌
a
Regional
Banks
2.2
First
Republic
Bank
64,000
11,978,880‌
a
Financial
Exchanges
&
Data
2.0
MarketAxess
Holdings,
Inc.
24,000
11,126,160‌
a
20.9
113,255,985‌
Information
Technology
Data
Processing
&
Outsourced
Services
9.7
Visa,
Inc.
-
Class
A
92,500
21,628,350‌
Mastercard,
Inc.
-
Class
A
50,000
18,254,500‌
Black
Knight,
Inc.
(a)
160,000
12,476,800‌
a
Application
Software
3.7
Guidewire
Software,
Inc.
(a)
120,000
13,526,400‌
ACI
Worldwide,
Inc.
(a)
180,000
6,685,200‌
a
Semiconductors
3.0
Texas
Instruments,
Inc.
85,000
16,345,500‌
a
16.4
88,916,750‌
Industrials
Research
&
Consulting
Services
5.3
CoStar
Group,
Inc.
(a)
220,000
18,220,400‌
Dun
&
Bradstreet
Holdings,
Inc.
(a)
500,000
10,685,000‌
a
Aerospace
&
Defense
2.8
HEICO
Corp.
-
Class
A
120,000
14,901,600‌
a
Industrials  
%
of
Net
Assets
Shares
$
Value
a
Industrial
Machinery
1.6
IDEX
Corp.
40,000
8,802,000‌
a
9.7
52,609,000‌
Consumer
Discretionary
Automotive
Retail
5.8
CarMax,
Inc.
(a)
145,000
18,726,750‌
AutoZone,
Inc.
(a)
8,500
12,683,870‌
a
Distributors
3.9
LKQ
Corp.
(a)
425,000
20,918,500‌
a
9.7
52,329,120‌
Materials
Construction
Materials
6.4
Vulcan
Materials
Co.
113,000
19,669,910‌
Martin
Marietta
Materials,
Inc.
42,500
14,951,925‌
a
Specialty
Chemicals
2.6
Axalta
Coating
Systems
Ltd.
(a)
(b)
465,000
14,177,850‌
a
9.0
48,799,685‌
Health
Care
Health
Care
Services
4.2
Laboratory
Corp.
of
America
Holdings
(a)
83,000
22,895,550‌
a
Total
Common
Stocks
(Cost
$249,690,255)
524,044,585‌
Cash
Equivalents
-
1
.9
%
a
a
a
U.S.
Treasury
Bill
0.04%
8/17/21
(Cost
$9,999,537)
(c)
10,000,000
9,999,462‌
a
Total
Investments
in
Securities
(Cost
$259,689,792)
534,044,047‌
Other
Assets
Less
Other
Liabilities
-  1.3%
7,128,996‌
Net
Assets
-
100%
541,173,043‌
Net
Asset
Value
Per
Share
-
Investor
Class
35.49
Net
Asset
Value
Per
Share
-
Institutional
Class
36.22
(a)
Non-income
producing
(b)
Foreign
domiciled
entity.
(c)
Interest
rates
presented
represent
the
effective
yield
at
June
30,
2021.
16
Short
Duration
Income
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Corporate
Bonds
-
16
.0
%
a
a
a
$
Principal
Amount
$
Value
a
a
Abercrombie
&
Fitch
Management
Co.
8.75%
7/15/25
(a)
2,125,000
2,358,644‌
American
Airlines
Group,
Inc.
3.75%
3/01/25
(a)
750,000
691,999‌
American
Airlines
Inc/AAdvantage
Loyalty
IP
Ltd.
5.5%
4/20/26
(a)
750,000
795,000‌
American
Tower
Corp.
2.25%
1/15/22
5,000,000
5,052,418‌
Ashtead
Capital,
Inc.
4.375%
8/15/27
(a)
3,000,000
3,150,000‌
Boeing
Co.
(The)
4.508%
5/01/23
1,000,000
1,066,420‌
Boston
Properties
LP
3.125%
9/01/23
9,560,000
10,027,222‌
Calumet
Specialty
Products
Partners
LP/
Calumet
Finance
Corp.
7.625%
1/15/22
480,000
480,919‌
Carlisle
Cos.,
Inc.
3.5%
12/01/24
500,000
539,837‌
Delta
Air
Lines
Inc/SkyMiles
IP
Ltd.
4.5%
10/20/25
(a)
3,000,000
3,225,279‌
Delta
Air
Lines,
Inc.
3.625%
3/15/22
1,905,000
1,932,179‌
Devon
Energy
Corp.
5.25%
10/15/27
(a)
390,000
420,507‌
Diamondback
Energy,
Inc.
2.875%
12/01/24
3,379,000
3,571,260‌
Discovery
Communications
LLC
2.95%
3/20/23
2,277,000
2,370,245‌
Drax
Finco
PLC
6.625%
11/01/25
(a)
(b)
3,000,000
3,107,235‌
Energy
Transfer
LP
5.2%
2/01/22
3,500,000
3,554,286‌
EPR
Properties
5.25%
7/15/23
5,912,000
6,248,076‌
EQT
Corp.
3%
10/01/22
1,180,000
1,206,550‌
Expedia
Group,
Inc.
3.6%
12/15/23
(a)
2,000,000
2,127,250‌
First
Republic
Bank
2.5%
6/06/22
4,200,000
4,276,089‌
Highwoods
Realty,
LP
3.625%
1/15/23
1,275,000
1,318,519‌
iStar,
Inc.
4.25%
8/01/25
2,402,000
2,477,783‌
JPMorgan
Chase
&
Co.
3.375%
5/01/23
3,956,000
4,165,816‌
Kimco
Realty
Corp.
3.125%
6/01/23
495,000
516,314‌
Kinder
Morgan
Energy
Partners
LP
3.95%
9/01/22
2,000,000
2,064,311‌
L
Brands,
Inc.
6.694%
1/15/27
1,000,000
1,180,635‌
Lennar
Corp.
4.875%
12/15/23
1,951,000
2,126,083‌
Level
3
Financing,
Inc.
5.25%
3/15/26
1,455,000
1,503,524‌
Markel
Corp.
4.9%
7/01/22
3,850,000
4,012,538‌
Matador
Resources
Co.
5.875%
9/15/26
500,000
515,675‌
a
a
a
$
Principal
Amount
$
Value
a
a
Metropolitan
Life
Global
Funding
I
2.4%
6/17/22
(a)
1,000,000
1,021,317‌
Mileage
Plus
Holdings
LLC/Mileage
Plus
Intellectual
Property
Assets
Ltd.
6.5%
6/20/27
(a)
1,000,000
1,102,250‌
MPLX
LP
3.375%
3/15/23
1,000,000
1,045,924‌
NGL
Energy
Partners
LP/NGL
Energy
Finance
Corp.
7.5%
11/01/23
4,555,000
4,492,369‌
6.125%
3/01/25
990,000
900,410‌
NXP
BV/NXP
Funding
LLC
4.625%
6/01/23
(a)
(b)
3,500,000
3,763,027‌
Occidental
Petroleum
Corp.
2.6%
8/13/21
1,000,000
1,003,525‌
Office
Properties
Income
Trust
4.15%
2/01/22
2,581,000
2,621,215‌
4%
7/15/22
1,000,000
1,033,030‌
PDC
Energy,
Inc.
6.125%
9/15/24
2,200,000
2,256,903‌
5.75%
5/15/26
1,000,000
1,045,930‌
QVC,
Inc.
4.375%
3/15/23
3,000,000
3,167,220‌
Qwest
Corp.
6.75%
12/01/21
1,150,000
1,178,031‌
RELX
Capital,
Inc.
3.5%
3/16/23
1,800,000
1,888,371‌
Simon
Property
Group
LP
2.75%
2/01/23
1,593,000
1,641,789‌
Sprint
Spectrum
Co.
LLC/Sprint
Spectrum
Co.
II
LLC/Sprint
Spectrum
Co.
III
LLC
3.36%
3/20/23
(a)
443,750
446,477‌
Starwood
Property
Trust,
Inc.
4.75%
3/15/25
375,000
390,489‌
U.S.
Bancorp
2.4%
7/30/24
500,000
526,311‌
Wells
Fargo
&
Co.
3.5%
3/08/22
7,900,000
8,076,447‌
Xerox
Corp.
4.375%
3/15/23
1,370,000
1,434,431‌
a
Total
Corporate
Bonds
(Cost
$111,253,732)
115,118,079‌
Corporate
Convertible
Bonds
-
2
.7
%
a
a
Redwood
Trust,
Inc.
5.75%
10/01/25
3,000,000
3,041,400‌
5.625%
7/15/24
6,300,000
6,536,250‌
4.75%
8/15/23
10,000,000
10,050,000‌
a
Total
Corporate
Convertible
Bonds
(Cost
$18,427,760)
19,627,650‌
Asset-Backed
Securities
-
29
.7
%
a
a
Automobile
American
Credit
Acceptance
Receivables
Trust
(ACAR)
Series
2019-4
Class
B
-
2.43%
10/12/23
(a)
1,002,608
1,003,845‌
Series
2020-1
Class
A
-
1.89%
4/13/23
(a)
21,235
21,248‌
Series
2020-1
Class
B
-
2.08%
12/13/23
(a)
2,500,000
2,506,802‌
Series
2020-2
Class
A
-
1.65%
12/13/23
(a)
389,242
390,263‌
Series
2020-4
Class
A
-
0.53%
3/13/24
(a)
911,711
912,657‌
17
a
a
a
$
Principal
Amount
$
Value
a
a
Series
2021-2
Class
A
-
0.37%
10/15/24
(a)
1,826,456
1,827,741‌
Series
2021-3
Class
A
-
0.62%
10/13/23
(a)
753,859
754,350‌
ARI
Fleet
Lease
Trust
(ARIFL)
Series
2018-B
Class
A2
-
3.22%
8/16/27
(a)
190,871
191,724‌
Series
2019-A
Class
A2A
-
2.41%
11/15/27
(a)
356,305
359,449‌
Series
2020-A
Class
A2
-
1.77%
8/15/28
(a)
1,055,825
1,062,305‌
Arivo
Acceptance
Auto
Loan
Receivables
Trust
(ARIVO)
Series
2021-1A
Class
A
-
1.19%
1/15/27
(a)
821,724
823,626‌
Carvana
Auto
Receivables
Trust
(CRVNA)
Series
2019-1A
Class
B
-
3.29%
8/15/23
(a)
1,713,025
1,719,502‌
Series
2019-1A
Class
C
-
3.5%
2/15/24
(a)
300,000
304,909‌
Series
2019-3A
B
Class
B
-
2.51%
4/15/24
(a)
400,000
403,835‌
Chesapeake
Funding
II
LLC
(CFII)
Series
2021-1A
Class
A1
-
0.47%
4/15/33
(a)
2,365,837
2,366,252‌
Drive
Auto
Receivables
Trust
(DRIVE)
Series
2017-1
Class
D
-
3.84%
3/15/23
711,865
715,208‌
Dt
Auto
Owner
Trust
(DTAOT)
Series
2019-3A
Class
B
-
2.6%
5/15/23
(a)
854,771
856,765‌
DT
Auto
Owner
Trust
(DTAOT)
Series
2018-3A
Class
C
-
3.79%
7/15/24
(a)
2,312,768
2,322,037‌
Series
2020-3A
Class
A
-
0.54%
4/15/24
(a)
261,600
261,958‌
Enterprise
Fleet
Financing
LLC
(EFF)
Series
2019-2
Class
A2
-
2.29%
2/20/25
(a)
1,373,842
1,393,307‌
Series
2020-1
Class
A2
-
1.78%
12/22/25
(a)
2,552,366
2,587,030‌
Exeter
Automobile
Receivables
Trust
(EART)
Series
2017-3A
Class
C
-
3.68%
7/17/23
(a)
725,486
736,102‌
Series
2020-2A
Class
A
-
1.13%
8/15/23
(a)
217,594
217,774‌
First
Investors
Auto
Owner
Trust
(FIAOT)
Series
2019-2A
Class
A
-
2.21%
9/16/24
(a)
622,590
627,033‌
Foursight
Capital
Automobile
Receivables
Trust
(FCRT)
Series
2020-1
Class
A2
-
1.97%
9/15/23
(a)
422,827
423,826‌
Series
2021-1
Class
A1
-
0.26978%
2/15/22
(a)
43,747
43,747‌
Series
2021-1
Class
A2
-
0.4%
8/15/24
(a)
1,250,000
1,250,986‌
GLS
Auto
Receivables
Issuer
Trust
(GCAR)
Series
2019-2A
Class
A
-
3.06%
4/17/23
(a)
10,773
10,785‌
Series
2019-3A
Class
A
-
2.58%
7/17/23
(a)
235,776
236,934‌
Series
2019-4A
Class
A
-
2.47%
11/15/23
(a)
707,227
711,884‌
Series
2020-1A
Class
A
-
2.17%
2/15/24
(a)
2,193,037
2,205,763‌
Series
2020-2A
Class
A
-
1.58%
8/15/24
(a)
1,357,104
1,367,673‌
Series
2020-2A
Class
B
-
3.16%
6/16/25
(a)
250,000
259,384‌
Series
2020-3A
Class
A
-
0.69%
10/16/23
(a)
318,344
318,826‌
Series
2020-3A
Class
B
-
1.38%
8/15/24
(a)
1,000,000
1,007,353‌
Series
2021-1A
Class
A
-
0.34%
5/15/24
(a)
2,394,509
2,395,572‌
JPMorgan
Chase
Auto
Credit
Linked
Note
(CACLN)
Series
2020-1
Class
B
-
0.991%
1/25/28
(a)
1,550,156
1,555,186‌
Series
2020-2
Class
B
-
0.84%
2/25/28
(a)
1,551,781
1,554,480‌
Series
2021-1
Class
B
-
0.875%
9/25/28
(a)
6,250,000
6,257,380‌
Securitized
Term
Auto
Loan
Receivables
Trust
(SSTRT)
Series
2019-CRTA
Class
B
-
2.453%
3/25/26
(a)
(b)
840,101
854,480‌
Series
2019-CRTA
Class
C
-
2.849%
3/25/26
(a)
(b)
631,570
644,818‌
United
Auto
Credit
Securitization
Trust
(UACST)
Series
2020-1
Class
A
-
0.85%
5/10/22
(a)
9,334
9,335‌
Series
2021-1
Class
A
-
0.34%
7/10/23
(a)
357,991
358,057‌
Westlake
Automobile
Receivables
Trust
(WLAKE)
Series
2020-2A
Class
A2A
-
0.93%
2/15/24
(a)
2,190,114
2,195,920‌
a
a
a
$
Principal
Amount
$
Value
a
a
World
Omni
Select
Auto
Trust
(WOSAT)
Series
2019-A
Class
A2A
-
2.06%
8/15/23
127,191
127,433‌
a
48,155,544‌
a
Collateralized
Loan
Obligations
ABPCI
Direct
Lending
Fund
CLO
I
LLC
(ABPCI)
Series
2016-1A
Class
A1A2
-
1.88249%
7/20/33
Floating
Rate
(US0003M
+
170)
(a)
(b)
(c)
2,000,000
2,000,000‌
ABPCI
Direct
Lending
Fund
CLO
X
LP
(ABPCI)
Series
2020-10A
Class
A1A
-
2.13825%
1/20/32
Floating
Rate
(Qtrly
LIBOR
+
195)
(a)
(b)
(c)
6,500,000
6,523,462‌
Ballyrock
CLO
Ltd.
(BALLY)
Series
2016-1A
Class
BR2
-
1.53375%
10/15/28
Floating
Rate
(Qtrly
LIBOR
+
135)
(a)
(b)
(c)
4,000,000
3,999,992‌
BlackRock
Elbert
CLO
V
Ltd.
(ELB)
Series
5A
Class
A1
-
2.01888%
12/15/31
Floating
Rate
(Qtrly
LIBOR
+
190)
(a)
(b)
(c)
4,000,000
4,007,388‌
Blackrock
Rainier
CLO
VI
Ltd.
(BLKMM)
Series
2021-6A
Class
A
-
1.88762%
4/20/33
Floating
Rate
(Qtrly
LIBOR
+
170)
(a)
(b)
(c)
5,500,000
5,499,967‌
Brightwood
Capital
MM
CLO
Ltd.
(BWCAP)
Series
2020-1A
Class
A
-
2.01888%
12/15/28
Floating
Rate
(Qtrly
LIBOR
+
190)
(a)
(b)
(c)
4,446,807
4,453,306‌
Cerberus
Loan
Funding
XXIX
LP
(CERB)
Series
2020-2A
Class
A
-
2.08375%
10/15/32
Floating
Rate
(US0003M
+
190)
(a)
(b)
(c)
4,500,000
4,506,903‌
Cerberus
Loan
Funding
XXVIII
LP
(CERB)
Series
2020-1A
Class
A
-
2.03375%
10/15/31
Floating
Rate
(Qtrly
LIBOR
+
185)
(a)
(b)
(c)
5,500,000
5,518,997‌
Cerberus
Loan
Funding
XXXII
LP
(CERB)
Series
2021-2A
Class
A
4/22/33
Floating
Rate
(US0003M
+
162)
(a)
(b)
(c)
3,000,000
2,999,994‌
Fortress
Credit
Opportunities
XV
CLO
Ltd.
(FCO)
Series
2021-15A
Class
AT
-
1.74513%
4/25/33
Floating
Rate
(Qtrly
LIBOR
+
155)
(a)
(b)
(c)
3,500,000
3,499,906‌
Golub
Capital
Partners
CLO
31M
Ltd.
(GOCAP)
Series
2016-31A
Class
CR
-
3.07638%
8/05/30
Floating
Rate
(Qtrly
LIBOR
+
290)
(a)
(b)
(c)
1,000,000
996,030‌
Lake
Shore
Mm
CLO
III
LLC
(LSHR)
Series
2020-1
Class
A
-
2.48375%
10/15/29
Floating
Rate
(US0003M
+
230)
(a)
(c)
3,000,000
3,009,285‌
Maranon
Loan
Funding
Ltd.
(MRNON)
Series
2021-2RA
Class
A1R
-
1.78349%
7/15/33
Floating
Rate
(US0003M
+
169)
(a)
(b)
(c)
5,000,000
5,000,000‌
Palmer
Square
Loan
Funding
Ltd.
(PSTAT)
Series
2021-1A
Class
A2
-
1.40495%
4/20/29
Floating
Rate
(Qtrly
LIBOR
+
125)
(a)
(b)
(c)
3,000,000
2,999,988‌
a
55,015,218‌
a
Consumer
&
Specialty
Finance
Affirm
Asset
Securitization
Trust
(AFFRM)
Series
2020-A
Class
A
-
2.1%
2/18/25
(a)
6,750,000
6,812,694‌
Series
2021-A
Class
A
-
0.88%
8/15/25
(a)
2,150,000
2,153,801‌
Bankers
Healthcare
Group
Securitization
Trust
(BHG)
Series
2020-A
Class
A
-
2.56%
9/17/31
(a)
4,382,347
4,452,597‌
18
Short
Duration
Income
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
a
a
a
$
Principal
Amount
$
Value
a
a
BHG
Securitization
Trust
(BHG)
Series
2021-A
Class
A
-
1.42%
11/17/33
(a)
1,000,000
1,000,630‌
Conn's
Receivables
Funding
LLC
(CONN)
Series
2020-A
Class
A
-
1.71%
6/16/25
(a)
111,068
111,193‌
Foundation
Finance
Trust
(FFIN)
Series
2019-1A
Class
A
-
3.86%
11/15/34
(a)
1,796,617
1,856,180‌
Freed
ABS
Trust
(FREED)
Series
2020-3FP
Class
A
-
2.4%
9/20/27
(a)
110,633
110,783‌
Series
2020-FP1
Class
A
-
2.52%
3/18/27
(a)
504,120
506,721‌
Series
2021-1CP
Class
A
-
0.66%
3/20/28
(a)
1,089,077
1,089,910‌
Series
2021-2
Class
A
-
0.68%
6/19/28
(a)
1,389,497
1,390,470‌
Marlette
Funding
Trust
(MFT)
Series
2019-1A
Class
A
-
3.44%
4/16/29
(a)
49,717
49,820‌
Series
2019-2A
Class
A
-
3.13%
7/16/29
(a)
202,785
203,520‌
Series
2019-3A
Class
A
-
2.69%
9/17/29
(a)
390,741
392,462‌
Series
2019-4A
Class
A
-
2.39%
12/17/29
(a)
741,143
745,015‌
Series
2020-1A
Class
A
-
2.24%
3/15/30
(a)
217,196
217,587‌
Series
2020-2A
Class
A
-
1.02%
9/16/30
(a)
610,840
611,416‌
Series
2021-1A
Class
A
-
0.6%
6/16/31
(a)
2,218,255
2,220,220‌
Office
Properties
Income
Trust
(OMFIT)
Series
2018-1A
Class
B
-
3.61%
3/14/29
(a)
1,500,000
1,534,272‌
Onemain
Financial
Issuance
Trust
(OMFIT)
Series
2018-1A
Class
A
-
3.3%
3/14/29
(a)
8,610,349
8,639,995‌
Pagaya
AI
Debt
Selection
Trust
(PAID)
Series
2020-3
Class
A
-
2.1%
5/17/27
(a)
2,198,798
2,215,231‌
Series
2021-1
Class
A
-
1.18%
11/15/27
(a)
6,424,823
6,440,743‌
Series
2021-HG1
Class
A
-
(0.01)%
1/16/29
5,000,000
5,003,586‌
Small
Business
Lending
Trust
(SBIZ)
Series
2020-A
Class
A
-
2.62%
12/15/26
(a)
550,565
552,442‌
SoFi
Consumer
Loan
Program
Trust
(SCLP)
Series
2018-4
Class
C
-
4.17%
11/26/27
(a)
3,450,000
3,520,735‌
Series
2019-2
Class
A
-
3.01%
4/25/28
(a)
141,963
142,524‌
Series
2019-3
Class
A
-
2.9%
5/25/28
(a)
674,280
677,854‌
Series
2019-4
Class
A
-
2.45%
8/25/28
(a)
444,505
447,286‌
Series
2020-1
Class
A
-
2.02%
1/25/29
(a)
656,595
662,112‌
Upgrade
Receivables
Trust
(UPGR)
Series
2019-1A
Class
C
-
5.15%
3/15/25
(a)
158,062
158,284‌
Series
2019-2A
Class
B
-
3.51%
10/15/25
(a)
1,707,332
1,709,852‌
Upstart
Securitization
Trust
(UPST)
Series
2017-2
Class
C
-
5.59%
3/20/25
(a)
580,119
581,200‌
Series
2018-2
Class
C
-
5.494%
12/22/25
(a)
415,630
417,430‌
Series
2019-2
Class
B
-
3.734%
9/20/29
(a)
1,250,000
1,267,995‌
Series
2019-3
Class
A
-
2.684%
1/21/30
(a)
964,131
969,674‌
Series
2020-1
Class
A
-
2.322%
4/22/30
(a)
2,254,625
2,270,185‌
Series
2020-3
Class
A
-
1.702%
11/20/30
(a)
2,949,450
2,967,523‌
Series
2021-1
Class
A
-
0.87%
3/20/31
(a)
1,649,547
1,653,300‌
Series
2021-2
Class
A
-
0.91%
6/20/31
(a)
1,684,316
1,686,289‌
a
67,443,531‌
a
Equipment
Amur
Equipment
Finance
Receivables
IX
LLC
(AXIS)
Series
2021-1A
Class
A1
-
0.22%
4/20/22
(a)
173,690
173,705‌
Series
2021-1A
Class
A2
-
0.75%
11/20/26
(a)
4,250,000
4,253,616‌
Amur
Equipment
Finance
Receivables
VIII
LLC
(AXIS)
Series
2020-1A
Class
A2
-
1.68%
8/20/25
(a)
1,120,022
1,127,377‌
BCC
Funding
Corp
XVI
LLC
(BCCFC)
Series
2019-1A
Class
A2
-
2.46%
8/20/24
(a)
2,234,690
2,264,105‌
BCC
Funding
XVII
LLC
(BCCFC)
Series
2020-1
Class
A2
-
0.91%
8/20/25
(a)
750,000
752,950‌
a
a
a
$
Principal
Amount
$
Value
a
a
CCG
Receivables
Trust
(CCG)
Series
2019-1
Class
B
-
3.22%
9/14/26
(a)
250,000
257,994‌
Series
2019-2
Class
A2
-
2.11%
3/15/27
(a)
1,228,666
1,242,987‌
Dell
Equipment
Finance
Trust
(DEFT)
Series
2019-1
Class
C
-
3.14%
3/22/24
(a)
2,750,000
2,784,417‌
Dext
ABS
LLC
(DEXT)
Series
2020-1
Class
A
-
1.46%
2/16/27
(a)
2,514,994
2,527,653‌
GreatAmerica
Leasing
Receivables
Funding
LLC
(GALC)
Series
2020-1
Class
A2
-
1.76%
6/15/22
(a)
3,197,759
3,210,565‌
Hewett-Packard
Financial
Services
Equipment
Trust
(HPEFS)
Series
2020-1A
Class
A2
-
1.73%
2/20/30
(a)
653,344
655,691‌
HPEFS
Equipment
Trust
(HPEFS)
Series
2019-1A
Class
D
-
2.72%
9/20/29
(a)
1,000,000
1,021,603‌
Series
2020-1A
Class
A3
-
1.76%
2/20/30
(a)
3,500,000
3,536,820‌
Series
2021-1A
Class
A1
-
0.1653%
3/21/22
(a)
527,684
527,702‌
MMAF
Equipment
Finance
LLC
(MMAF)
Series
2016-AA
Class
A4
-
1.76%
1/17/23
(a)
201,767
202,256‌
Pawnee
Equipment
Receivables
(PWNE)
Series
2020-1
Class
A
-
1.37%
11/17/25
(a)
2,636,343
2,650,386‌
Pawnee
Equipment
Receivables
Series
LLC
(PWNE)
Series
2019-1
Class
A2
-
2.29%
10/15/24
(a)
4,623,308
4,669,653‌
a
31,859,480‌
a
Other
Hilton
Grand
Vacations
Trust
(HGVT)
Series
2020-AA
Class
A
-
2.74%
2/25/39
(a)
358,985
372,999‌
Octane
Receivables
Trust
(OCTL)
Series
2019-1A
Class
A
-
3.16%
9/20/23
(a)
1,308,997
1,320,779‌
Series
2020-1A
Class
A
-
1.71%
2/20/25
(a)
4,801,076
4,844,174‌
Series
2021-1A
Class
A
-
0.93%
3/22/27
(a)
1,984,818
1,987,326‌
Sierra
Timeshare
Receivables
Funding
LLC
(SRFC)
Series
2019-2A
Class
A
-
2.59%
5/20/36
(a)
780,798
800,270‌
Series
2019-2A
Class
B
-
2.82%
5/20/36
(a)
97,600
100,028‌
Series
2020-2A
Class
A
-
1.33%
7/20/37
(a)
1,310,243
1,318,958‌
10,744,534‌
a
Total
Asset-Backed
Securities
(Cost
$212,113,162)
213,218,307‌
Commercial
Mortgage-Backed
Securities
-
9
.6
%
a
a
ACRES
Commercial
Realty
Corp.
(XAN)
Series
2020-RSO8
Class
C
-
2.62448%
3/15/35
Floating
Rate
(Mthly
LIBOR
+
215)
(a)
3,750,000
3,757,969‌
Series
2020-RSO8
Class
D
-
2.62448%
3/15/35
Floating
Rate
(Mthly
LIBOR
+
250)
(a)
1,500,000
1,502,816‌
BFLD
Trust
(BFLD)
Series
2020-OBRK
Class
A
-
2.123%
11/15/22
Floating
Rate
(Mthly
LIBOR
+
205)
(a)
2,625,000
2,660,646‌
BPCRE
Ltd.
(BPCRE)
Series
2021-FL1
Class
AS
-
1.23175%
2/15/37
Floating
Rate
(Mthly
LIBOR
+
115)
(a)
(b)
4,000,000
4,014,000‌
BPR
Trust
(BPR)
Series
2021-KEN
Class
A
-
1.323%
2/15/29
Floating
Rate
(US0001M
+
125)
(a)
3,000,000
3,003,011‌
19
a
a
a
$
Principal
Amount
$
Value
a
a
GPMT
Ltd.
(GPMT)
Series
2018-FL1
Class
C
-
2.24338%
11/19/35
Floating
Rate
(Mthly
LIBOR
+
215)
(a)
(b)
7,300,000
7,302,365‌
Series
2018-FL1
Class
D
-
3.04338%
11/21/35
Floating
Rate
(Mthly
LIBOR
+
295)
(a)
(b)
4,500,000
4,478,209‌
Series
2021-FL3
Class
A
-
1.3325%
7/16/35
Floating
Rate
(Mthly
LIBOR
+
125)
(a)
(b)
5,000,000
5,000,000‌
HGI
CRE
CLO
Ltd.
(HGI)
Series
2021-FL1
Class
A
-
1.12463%
6/16/36
Floating
Rate
(Mthly
LIBOR
+
105)
(a)
(b)
4,750,000
4,750,000‌
Hilton
USA
Trust
(HILT)
Series
2016-SFP
Class
E
-
5.5191%
11/05/35
(a)
4,300,000
4,358,621‌
LoanCore
Issuer
Ltd.
(LNCR)
Series
2021-CRE5
Class
A
-
1.37288%
7/15/36
Floating
Rate
(Mthly
LIBOR
+
130)
(a)
(b)
5,000,000
5,000,000‌
PFP
Ltd.
(PFP)
Series
2019-5
Class
B
-
1.72463%
4/14/36
Floating
Rate
(US0001M
+
165)
(a)
(b)
2,500,000
2,505,650‌
Series
2019-5
Class
C
-
2.07463%
4/14/36
Floating
Rate
(Mthly
LIBOR
+
200)
(a)
(b)
1,500,000
1,503,390‌
Series
2021-7
Class
AS
-
1.22288%
4/14/38
Floating
Rate
(US0001M
+
115)
(a)
(b)
4,500,000
4,504,554‌
Ready
Capital
Mortgage
Financing
LLC
(RCMT)
Series
2020-FL4
Class
A
-
2.2415%
2/25/35
Floating
Rate
(US0001M
+
215)
(a)
3,999,827
4,035,669‌
RETL
(RETL)
Series
2019-RVP
Class
C
-
2.173%
3/15/36
Floating
Rate
(Mthly
LIBOR
+
210)
(a)
1,509,157
1,508,406‌
VMC
Finance
LLC
(VMC)
Series
2018-FL2
Class
C
-
2.03175%
10/15/35
Floating
Rate
(Mthly
LIBOR
+
195)
(a)
4,200,000
4,210,790‌
Series
2021-FL4
Class
A
-
1.1825%
6/16/36
Floating
Rate
(Mthly
LIBOR
+
110)
(a)
5,000,000
5,000,000‌
a
Total
Commercial
Mortgage-Backed
Securities
(Cost
$68,979,639)
69,096,096‌
Mortgage-Backed
Securities
-
14
.8
%
a
a
Federal
Home
Loan
Mortgage
Corporation
Collateralized
Mortgage
Obligations
Series
3649
Class
BW
-
4%
3/15/25
492,916
514,835‌
Series
4107
Class
LW
-
1.75%
8/15/27
3,920,485
3,946,869‌
Series
4281
Class
AG
-
2.5%
12/15/28
359,430
365,952‌
Series
4107
Class
LA
-
2.5%
5/15/31
5,639,030
5,687,829‌
Series
3003
Class
LD
-
5%
12/15/34
606,199
696,119‌
Series
2952
Class
PA
-
5%
2/15/35
292,249
319,320‌
Series
3620
Class
PA
-
4.5%
12/15/39
551,602
597,045‌
Series
3842
Class
PH
-
4%
4/15/41
656,997
718,206‌
a
Pass-Through
Securities
G18190
–
5.5%
6/01/22
1,952
1,983‌
G13300
–
4.5%
5/01/23
23,356
24,490‌
G18296
–
4.5%
2/01/24
69,991
73,464‌
G18306
–
4.5%
4/01/24
155,731
163,471‌
G18308
–
4%
5/01/24
284,856
302,697‌
J13949
–
3.5%
12/01/25
1,320,432
1,411,190‌
E02804
–
3%
12/01/25
872,979
918,240‌
J14649
–
3.5%
4/01/26
849,829
908,138‌
a
a
a
$
Principal
Amount
$
Value
a
a
E02948
–
3.5%
7/01/26
2,716,837
2,905,362‌
J16663
–
3.5%
9/01/26
2,366,629
2,530,719‌
E03033
–
3%
2/01/27
1,434,164
1,510,128‌
ZS8692
–
2.5%
4/01/33
1,041,519
1,088,190‌
G01818
–
5%
5/01/35
737,449
831,057‌
25,515,304‌
a
Federal
National
Mortgage
Association
Collateralized
Mortgage
Obligations
Series
2010-54
Class
WA
-
3.75%
6/25/25
164,968
168,533‌
a
Pass-Through
Securities
888595
–
5%
1/01/22
1,879
1,957‌
888439
–
5.5%
6/01/22
3,687
3,723‌
AR8198
–
2.5%
3/01/23
788,446
822,433‌
MA1502
–
2.5%
7/01/23
703,573
733,901‌
995960
–
5%
12/01/23
40,134
41,809‌
AD0629
–
5%
2/01/24
35,279
36,752‌
930667
–
4.5%
3/01/24
135,224
142,038‌
995693
–
4.5%
4/01/24
112,226
117,646‌
MA0043
–
4%
4/01/24
430,667
457,556‌
995692
–
4.5%
5/01/24
320,212
336,341‌
931739
–
4%
8/01/24
65,051
69,141‌
AE0031
–
5%
6/01/25
130,538
136,156‌
AD7073
–
4%
6/01/25
214,538
228,143‌
AL0471
–
5.5%
7/01/25
288,991
300,738‌
310139
–
3.5%
11/01/25
1,546,702
1,653,505‌
AB1769
–
3%
11/01/25
773,178
814,413‌
AH3429
–
3.5%
1/01/26
4,059,001
4,338,026‌
AB2251
–
3%
2/01/26
982,705
1,036,537‌
AB3902
–
3%
11/01/26
686,989
723,151‌
AB4482
–
3%
2/01/27
3,405,850
3,603,310‌
AL1366
–
2.5%
2/01/27
1,347,066
1,411,811‌
AB6291
–
3%
9/01/27
684,435
723,245‌
MA3189
–
2.5%
11/01/27
1,182,258
1,233,221‌
MA3791
–
2.5%
9/01/29
2,358,810
2,473,114‌
BM5708
–
3%
12/01/29
1,849,685
1,952,722‌
MA0587
–
4%
12/01/30
2,119,760
2,279,445‌
BA4767
–
2.5%
1/01/31
1,363,393
1,427,485‌
AS7701
–
2.5%
8/01/31
3,572,804
3,758,805‌
555531
–
5.5%
6/01/33
1,531,849
1,767,505‌
MA3540
–
3.5%
12/01/33
1,353,236
1,448,758‌
725232
–
5%
3/01/34
140,802
160,521‌
995112
–
5.5%
7/01/36
682,558
791,380‌
35,193,821‌
a
Government
National
Mortgage
Association
Pass-Through
Securities
5255
–
3%
12/20/26
2,979,898
3,128,300‌
a
Non-Government
Agency
Collateralized
Mortgage
Obligations
Bunker
Hill
Loan
Depositary
Trust
(BHLD)
Series
2019-3A
Class
A1
-
2.724%
11/25/59
(a)
(c)
2,059,377
2,100,801‌
Citigroup
Mortgage
Loan
Trust,
Inc.
(CMLTI)
Series
2014-A
Class
A
-
4%
1/25/35
(a)
(c)
574,801
606,603‌
COLT
Mortgage
Loan
Trust
(COLT)
Series
2019-4
Class
A1
-
2.579%
11/25/49
(a)
(c)
1,710,913
1,719,080‌
20
Short
Duration
Income
Fund
(Continued)
Schedule
of
Investments
June
30,
2021
(Unaudited)
a
a
a
$
Principal
Amount
$
Value
a
a
Deephaven
Residential
Mortgage
Trust
(DRMT)
Series
2019-3A
Class
A1
-
2.964%
7/25/59
(a)
(c)
1,404,063
1,409,983‌
Series
2019-4A
Class
A1
-
2.791%
10/25/59
(a)
(c)
589,209
593,817‌
Flagstar
Mortgage
Trust
(FSMT)
Series
2017-1
Class
2A2
-
3%
3/25/47
(a)
(c)
1,256,323
1,280,873‌
GS
Mortgage-Backed
Securities
Trust
(GSMBS)
Series
2020-NQM1
Class
A1
-
1.382%
9/27/60
(a)
(c)
1,117,549
1,122,726‌
JPMorgan
Mortgage
Trust
(JPMMT)
Series
2014-2
Class
2A2
-
3.5%
6/25/29
(a)
(c)
1,334,436
1,364,980‌
Series
2014-5
Class
A1
-
2.91041%
10/25/29
(a)
(c)
2,786,228
2,870,041‌
Series
2016-3
Class
2A1
-
3%
10/25/46
(a)
(c)
2,261,956
2,285,293‌
Series
2017-3
Class
2A2
-
2.5%
8/25/47
(a)
(c)
4,211,041
4,266,608‌
Series
2018-6
Class
2A2
-
3%
12/25/48
(a)
(c)
1,268,151
1,298,672‌
Series
2020-7
Class
A4
-
3%
1/25/51
(a)
(c)
654,163
663,520‌
Series
2020-8
Class
A4
-
3%
3/25/51
(a)
(c)
849,250
858,028‌
Series
2021-4
Class
A4
-
2.5%
8/25/51
(a)
(c)
2,922,318
2,997,461‌
Series
2021-6
Class
A4
-
2.5%
10/25/51
(a)
(c)
6,141,809
6,299,737‌
Series
2021-8
Class
A4
-
2.5%
12/25/51
2,000,000
2,056,328‌
JPMorgan
Wealth
Management
(JPMWM)
Series
2020-ATR1
Class
A4
-
3%
2/25/50
(a)
(c)
3,380,807
3,401,682‌
Sequoia
Mortgage
Trust
(SEMT)
Series
2019-CH2
Class
A1
-
4.5%
8/25/49
(a)
(c)
1,806,618
1,823,123‌
Series
2019-CH3
Class
A10
-
4%
9/25/49
(a)
(c)
308,967
309,627‌
Series
2019-4
Class
A4
-
3.5%
11/25/49
(a)
(c)
197,974
198,656‌
Series
2019-5
Class
A4
-
3.5%
12/25/49
(a)
(c)
811,268
814,643‌
Series
2020-1
Class
A4
-
3.5%
2/25/50
(a)
(c)
149,007
149,678‌
Series
2020-2
Class
A4
-
3.5%
3/25/50
(a)
(c)
699,422
705,713‌
Series
2020-3
Class
A4
-
3%
4/25/50
(a)
(c)
1,169,798
1,184,471‌
42,382,144‌
a
Total
Mortgage-Backed
Securities
(Cost
$102,721,978)
106,219,569‌
U.S.
Treasuries
-
20
.6
%
a
a
U.S.
Treasury
Notes
1.125%
7/31/21
15,000,000
15,013,485‌
2%
7/31/22
17,000,000
17,350,625‌
2%
2/15/23
7,000,000
7,205,762‌
1.5%
2/28/23
25,000,000
25,541,015‌
2%
5/31/24
15,000,000
15,678,516‌
0.25%
8/31/25
15,000,000
14,701,758‌
1.875%
7/31/26
15,000,000
15,740,039‌
1.625%
10/31/26
12,000,000
12,431,719‌
1.125%
2/28/27
6,500,000
6,547,988‌
1.125%
2/29/28
16,000,000
15,955,000‌
1.25%
3/31/28
2,000,000
2,008,203‌
a
Total
U.S.
Treasuries
(Cost
$146,061,805)
148,174,110‌
Common
Stocks
-
0
.7
%
a
Financials
%
of
Net
Assets
Shares
$
Value
Mortgage
REITs
0.7
Redwood
Trust,
Inc.
410,000
4,948,700‌
a
Total
Investments
in
Securities
(Cost
$663,439,767)
676,402,511‌
Other
Assets
Less
Other
Liabilities
-  5.9%
42,324,800‌
Net
Assets
-
100%
718,727,311‌
Net
Asset
Value
Per
Share
-
Investor
Class
12.38
Net
Asset
Value
Per
Share
-
Institutional
Class
12.40
(a)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
This
security
may
be
resold
in
transactions
that
are
exempt
from
registration,
normally
to
qualified
institutional
buyers.
(b)
Foreign
domiciled
entity.
(c)
The
interest
rate
resets
periodically
based
on
the
weighted
average
coupons
of
the
underlying
mortgage-related
or
asset-backed
obligations.
21
Ultra
Short
Government
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Corporate
Bonds
-
0
.7
%
a
a
a
$
Principal
Amount
$
Value
a
a
Dominion
Energy,
Inc.
Series
2016-C
Series
2016-C
2%
8/15/21
(Cost
$500,794)
500,000
500,321‌
Asset-Backed
Securities
-
11
.5
%
a
a
Automobile
American
Credit
Acceptance
Receivables
Trust
(ACAR)
Series
2020-1
Class
A
-
1.89%
4/13/23
(a)
3,539
3,541‌
Series
2020-4
Class
A
-
0.53%
3/13/24
(a)
227,928
228,164‌
Series
2021-2
Class
A
-
0.37%
10/15/24
(a)
228,307
228,468‌
Series
2021-3
Class
A
-
0.62%
10/13/23
(a)
150,772
150,870‌
ARI
Fleet
Lease
Trust
(ARIFL)
Series
2019-A
Class
A2A
-
2.41%
11/15/27
(a)
273,167
275,577‌
Series
2020-A
Class
A2
-
1.77%
8/15/28
(a)
648,578
652,559‌
Carvana
Auto
Receivables
Trust
(CRVNA)
Series
2019-2A
Class
B
-
2.74%
12/15/23
(a)
276,369
278,278‌
DT
Auto
Owner
Trust
(DTAOT)
Series
2020-3A
Class
A
-
0.54%
4/15/24
(a)
130,800
130,979‌
Enterprise
Fleet
Funding
LLC
(EFF)
Series
2021-1
Class
A1
-
0.16793%
3/21/22
(a)
218,796
218,803‌
First
Investors
Auto
Owner
Trust
(FIAOT)
Series
2017-1A
Class
D
-
3.6%
4/17/23
(a)
317,000
318,946‌
Foursight
Capital
Automobile
Receivables
Trust
(FCRT)
Series
2021-1
Class
A1
-
0.26978%
2/15/22
(a)
29,165
29,165‌
GLS
Auto
Receivables
Issuer
Trust
(GCAR)
Series
2019-3A
Class
A
-
2.58%
7/17/23
(a)
23,578
23,694‌
Series
2020-1A
Class
A
-
2.17%
2/15/24
(a)
302,488
304,243‌
Series
2020-4A
Class
A
-
0.52%
2/15/24
(a)
375,884
376,273‌
United
Auto
Credit
Securitization
Trust
(UACST)
Series
2020-1
Class
A
-
0.85%
5/10/22
(a)
1,167
1,167‌
Series
2021-1
Class
A
-
0.34%
7/10/23
(a)
357,991
358,057‌
Westlake
Automobile
Receivables
Trust
(WLAKE)
Series
2020-2A
Class
A2A
-
0.93%
2/15/24
(a)
410,646
411,735‌
a
3,990,519‌
a
Consumer
&
Specialty
Finance
Marlette
Funding
Trust
(MFT)
Series
2019-2A
Class
A
-
3.13%
7/16/29
(a)
121,671
122,112‌
Series
2020-2A
Class
A
-
1.02%
9/16/30
(a)
390,938
391,306‌
Onemain
Financial
Issuance
Trust
(OMFIT)
Series
2018-1A
Class
A
-
3.3%
3/14/29
(a)
533,039
534,874‌
Upstart
Securitization
Trust
(UPST)
Series
2019-2
Class
A
-
2.897%
9/20/29
(a)
86,944
87,121‌
Series
2020-1
Class
A
-
2.322%
4/22/30
(a)
356,181
358,639‌
a
1,494,052‌
a
Equipment
Amur
Equipment
Finance
Receivables
IX
LLC
(AXIS)
Series
2021-1A
Class
A1
-
0.22%
4/20/22
(a)
521,071
521,114‌
BCC
Funding
XIV
LLC
(BCCFC)
Series
2018-1A
Class
B
-
3.39%
8/21/23
(a)
84,275
84,453‌
BCC
Funding
XVII
LLC
(BCCFC)
Series
2020-1
Class
A1
-
0.30965%
10/20/21
(a)
51,214
51,219‌
Dell
Equipment
Finance
Trust
(DEFT)
Series
2020-2
Class
A2
-
0.47%
10/24/22
(a)
381,417
381,923‌
a
a
a
$
Principal
Amount
$
Value
a
a
GreatAmerica
Leasing
Receivables
Funding
LLC
(GALC)
Series
2020-1
Class
A2
-
1.76%
6/15/22
(a)
314,233
315,492‌
HPEFS
Equipment
Trust
(HPEFS)
Series
2021-1A
Class
A1
-
0.1653%
3/21/22
(a)
263,842
263,851‌
MMAF
Equipment
Finance
LLC
(MMAF)
Series
2016-AA
Class
A4
-
1.76%
1/17/23
(a)
87,152
87,363‌
SCF
Equipment
Leasing
LLC
(SCFET)
Series  2021-1A
Class
A1
-
0.23387%
3/11/22
(a)
163,630
163,630‌
Series
2020-1A
Class
A2
-
0.68%
10/20/25
(a)
410,010
410,837‌
2,279,882‌
a
Total
Asset-Backed
Securities
(Cost
$7,751,495)
7,764,453‌
U.S.
Treasuries
-
82
.1
%
a
a
U.S.
Treasury
Notes
1.125%
8/31/21
19,000,000
19,034,165‌
2.75%
9/15/21
7,000,000
7,039,023‌
2.875%
10/15/21
9,750,000
9,829,751‌
1.625%
12/31/21
2,000,000
2,015,597‌
1.875%
1/31/22
6,000,000
6,063,692‌
0.375%
3/31/22
11,500,000
11,525,587‌
a
Total
U.S.
Treasuries
(Cost
$55,505,136)
55,507,815‌
Total
Investments
in
Securities
(Cost
$63,757,425)
63,772,589‌
Other
Assets
Less
Other
Liabilities
-  5.7%
3,823,496‌
Net
Assets
-
100%
67,596,085‌
Net
Asset
Value
Per
Share
-
Institutional
Class
10.00
(a)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
This
security
may
be
resold
in
transactions
that
are
exempt
from
registration,
normally
to
qualified
institutional
buyers.
22
Value
Fund
Schedule
of
Investments
June
30,
2021
(Unaudited)
Common
Stocks
-
95
.7
%
a
Information
Technology
%
of
Net
Assets
Shares
$
Value
Data
Processing
&
Outsourced
Services
11.1
Visa,
Inc.
-
Class
A
170,000
39,749,400‌
Mastercard,
Inc.
-
Class
A
100,000
36,509,000‌
Fidelity
National
Information
Services,
Inc.
240,000
34,000,800‌
a
Semiconductors
3.6
Analog
Devices,
Inc.
210,000
36,153,600‌
a
Application
Software
2.9
salesforce.com,
Inc.
(a)
120,000
29,312,400‌
a
IT
Consulting
&
Other
Services
2.7
Accenture
plc
-
Class
A
(b)
90,000
26,531,100‌
a
Systems
Software
2.5
Oracle
Corp.
325,000
25,298,000‌
a
22.8
227,554,300‌
Communication
Services
Interactive
Media
&
Services
11.9
Alphabet,
Inc.
-
Class
C
(a)
28,000
70,176,960‌
Facebook,
Inc.
-
Class
A
(a)
140,000
48,679,400‌
a
Cable
&
Satellite
10.8
Liberty
Broadband
Corp.
-
Class
C
(a)
280,000
48,624,800‌
Liberty
Media
Corp-Liberty
SiriusXM
-
Class
C
(a)
650,000
30,153,500‌
Comcast
Corp.
-
Class
A
500,000
28,510,000‌
a
22.7
226,144,660‌
Financials
Insurance
Brokers
4.8
Aon
plc
-
Class
A
(b)
200,000
47,752,000‌
a
Multi-Sector
Holdings
4.6
Berkshire
Hathaway,
Inc.
-
Class
B
(a)
165,000
45,856,800‌
a
Investment
Banking
&
Brokerage
4.4
The
Charles
Schwab
Corp.
600,000
43,686,000‌
a
Financial
Exchanges
&
Data
2.5
S&P
Global,
Inc.
62,500
25,653,125‌
a
Diversified
Banks
2.2
JPMorgan
Chase
&
Co.
140,000
21,775,600‌
a
18.5
184,723,525‌
Health
Care
Health
Care
Equipment
4.0
Danaher
Corp.
150,000
40,254,000‌
a
Life
Sciences
Tools
&
Services
3.8
Thermo
Fisher
Scientific,
Inc.
75,000
37,835,250‌
a
Health
Care
Services
3.5
Laboratory
Corp.
of
America
Holdings
(a)
125,000
34,481,250‌
a
11.3
112,570,500‌
a
Consumer
Discretionary
%
of
Net
Assets
Shares
$
Value
Automotive
Retail
5.6
CarMax,
Inc.
(a)
225,000
29,058,750‌
AutoZone,
Inc.
(a)
17,500
26,113,850‌
a
Internet
&
Direct
Marketing
Retail
2.9
Amazon.com,
Inc.
(a)
8,500
29,241,360‌
a
8.5
84,413,960‌
Industrials
Research
&
Consulting
Services
3.5
CoStar
Group,
Inc.
(a)
420,000
34,784,400‌
a
Industrial
Conglomerates
2.6
Roper
Technologies,
Inc.
55,000
25,861,000‌
a
6.1
60,645,400‌
Materials
Construction
Materials
3.6
Vulcan
Materials
Co.
205,000
35,684,350‌
a
Industrial
Gases
2.2
Linde
plc
(b)
75,000
21,682,500‌
a
5.8
57,366,850‌
a
Total
Common
Stocks
(Cost
$428,916,134)
953,419,195‌
Cash
Equivalents
-
3
.0
%
a
a
a
U.S.
Treasury
Bills,
0.04%
to
0.04%,
7/20/21
to
7/27/21
(c)
30,000,000
29,999,167‌
a
Total
Cash
Equivalents
(Cost
$29,999,267)
29,999,167‌
Total
Investments
in
Securities
(Cost
$458,915,401)
983,418,362‌
Other
Assets
Less
Other
Liabilities
-  1.3%
13,139,598‌
Net
Assets
-
100%
996,557,960‌
Net
Asset
Value
Per
Share
-
Investor
Class
59.29
Net
Asset
Value
Per
Share
-
Institutional
Class
60.41
(a)
Non-income
producing
(b)
Foreign
domiciled
entity.
(c)
Interest
rates
presented
represent
the
effective
yield
at
June
30,
2021.
23
NOTES
TO
SCHEDULES
OF
INVESTMENTS
June
30,
2021
(Unaudited)
(1) Disclaimer
The
schedule
of
portfolio
holdings
are
unaudited
and
are
presented
for
informational
purposes
only.
Portfolio
composition
is
subject
to
change
at
any
time
and
references
to
specific
securities,
industries,
and
sectors
are
not
recommendations
to
purchase
or
sell
any
particular
security.
Current
and
future
portfolio
holdings
are
subject
to
risk.
(2) Affiliated
Issuers
Affiliated
issuers,
as
defined
under
the
Investment
Company
Act
of
1940,
are
those
in
which
a
Fund’s
holdings
of
an
issuer
represent
5%
or
more
of
the
outstanding
voting
securities
of
the
issuer.
A
summary
of
each
Fund’s
holdings
in
the
securities
of
such
issuers
is
set
forth
below:
(3) Additional
Information
The
Funds’
annual
and
semi-annual
reports
contain
further
information,
including
the
Funds’
significant
accounting
policies,
pricing
and
fair
valuation
information
and
risks.
These
reports
are
available
on
the
Funds’
website
at
weitzinvestments.com.
Value
3/31/2021
Purchases
at
Cost
Proceeds
from
Sales
Net
Realized
Gain(Loss)
Net
Change
in
Unrealized
Appreciation/
Depreciation
Value
6/30/2021
Shares
as
of
6/30/2021
Dividend
Income
Capital
Gains
Distribution
Partners
III
Opportunity
Fund:
Intelligent
Systems
Corp
$
6,386,950
$
-
$
(616,258)
$
605,758
$
(6,556,650)
$
9,819,800
630,000
$
-
$
-