Shares or
Principal
Amount
|
|
|
Value
|
|
|
COMMON STOCKS—49.9%
|
|
|
|
Communication Services—3.0%
|
|
5,324
|
1
|
Alphabet, Inc., Class A
|
$ 503,171
|
83,798
|
1
|
Altice USA, Inc.
|
553,905
|
21,112
|
1
|
Cars.com, Inc.
|
293,035
|
4,027
|
|
Comcast Corp., Class A
|
127,817
|
6,754
|
|
Lumen Technologies, Inc.
|
49,709
|
21,701
|
1
|
Meta Platforms, Inc.
|
2,021,665
|
1,905
|
1
|
Netflix, Inc.
|
556,031
|
14,200
|
1
|
Spotify Technology SA
|
1,144,236
|
3,690
|
|
Walt Disney Co.
|
393,133
|
|
|
TOTAL
|
5,642,702
|
|
|
Consumer Discretionary—5.5%
|
|
1,947
|
1
|
1-800-FLOWERS.COM, Inc.
|
14,194
|
7,491
|
|
American Eagle Outfitters, Inc.
|
85,098
|
171
|
1
|
AutoZone, Inc.
|
433,123
|
23,510
|
1
|
Bright Horizons Family Solutions, Inc.
|
1,535,673
|
25,609
|
1
|
Chegg, Inc.
|
552,386
|
17,851
|
|
eBay, Inc.
|
711,184
|
20,495
|
1
|
Expedia Group, Inc.
|
1,915,668
|
22,641
|
|
Ford Motor Co.
|
302,710
|
67,493
|
|
Gap (The), Inc.
|
760,646
|
340
|
|
Garmin Ltd.
|
29,934
|
15,297
|
1
|
Goodyear Tire & Rubber Co.
|
194,272
|
3,815
|
1,2
|
Groupon, Inc.
|
28,117
|
34,945
|
|
Macy’s, Inc.
|
728,603
|
1,047
|
1
|
Mohawk Industries, Inc.
|
99,203
|
2,780
|
|
Nike, Inc., Class B
|
257,650
|
4,619
|
|
Nordstrom, Inc.
|
93,950
|
15,600
|
|
PVH Corp.
|
800,592
|
182
|
1
|
Ulta Beauty, Inc.
|
76,325
|
12,680
|
1
|
Under Armour, Inc., Class A
|
94,466
|
53,069
|
|
V.F. Corp.
|
1,499,199
|
5,036
|
1
|
YETI Holdings, Inc.
|
161,555
|
|
|
TOTAL
|
10,374,548
|
|
|
Consumer Staples—3.0%
|
|
11,638
|
|
Albertsons Cos., Inc.
|
238,695
|
271
|
|
Coca-Cola Bottling Co.
|
131,980
|
663
|
|
Costco Wholesale Corp.
|
332,494
|
20,502
|
1
|
Hain Celestial Group, Inc.
|
383,592
|
8,289
|
|
Hershey Foods Corp.
|
1,979,165
|
24,606
|
|
Kroger Co.
|
1,163,618
|
694
|
|
Lamb Weston Holdings, Inc.
|
59,837
|
6,270
|
|
PepsiCo, Inc.
|
1,138,507
|
273
|
1
|
The Boston Beer Co., Inc., Class A
|
101,908
|
|
|
TOTAL
|
5,529,796
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
COMMON STOCKS—continued
|
|
|
|
Energy—3.0%
|
|
465
|
|
Cheniere Energy, Inc.
|
$ 82,031
|
2,390
|
|
Chevron Corp.
|
432,351
|
1,616
|
|
ConocoPhillips
|
203,761
|
591
|
|
Diamondback Energy, Inc.
|
92,852
|
6,324
|
|
Exxon Mobil Corp.
|
700,762
|
21,158
|
|
Marathon Oil Corp.
|
644,261
|
17,142
|
|
Marathon Petroleum Corp.
|
1,947,674
|
9,885
|
|
Occidental Petroleum Corp.
|
717,651
|
598
|
|
PBF Energy, Inc.
|
26,461
|
306
|
|
Phillips 66
|
31,913
|
8,933
|
|
Targa Resources, Inc.
|
610,749
|
1,421
|
|
Valero Energy Corp.
|
178,407
|
|
|
TOTAL
|
5,668,873
|
|
|
Financials—6.3%
|
|
19,745
|
|
Bank of New York Mellon Corp.
|
831,462
|
18,942
|
|
Berkley, W. R. Corp.
|
1,408,906
|
2,935
|
|
Bread Financial Holdings, Inc.
|
105,983
|
3,891
|
|
Carlyle Group LP/The
|
110,037
|
1,206
|
|
Cboe Global Markets, Inc.
|
150,147
|
2,089
|
|
Chubb Ltd.
|
448,905
|
2,588
|
|
First Republic Bank
|
310,819
|
9,581
|
1
|
Green Dot Corp.
|
182,326
|
15,952
|
|
Huntington Bancshares, Inc.
|
242,151
|
9,463
|
|
Interactive Brokers Group, Inc., Class A
|
758,459
|
1,061
|
1
|
LendingTree, Inc.
|
26,769
|
4,130
|
|
MarketAxess Holdings, Inc.
|
1,007,885
|
12,597
|
|
NASDAQ, Inc.
|
784,037
|
11,430
|
|
Northern Trust Corp.
|
964,121
|
1,477
|
1
|
PROG Holdings, Inc.
|
24,400
|
813
|
|
Progressive Corp., OH
|
104,389
|
16,500
|
|
Rithm Capital Corp.
|
139,095
|
683
|
|
State Street Corp.
|
50,542
|
2,807
|
|
SVB Financial Group
|
648,305
|
6,228
|
|
T. Rowe Price Group, Inc.
|
661,165
|
439
|
|
The Hartford Financial Services Group, Inc.
|
31,788
|
9,663
|
|
The Travelers Cos., Inc.
|
1,782,437
|
337
|
1
|
Triumph Bancorp, Inc.
|
17,356
|
33,023
|
|
Virtu Financial, Inc.
|
739,055
|
5,580
|
|
Zions Bancorporation, N.A.
|
289,825
|
|
|
TOTAL
|
11,820,364
|
|
|
Health Care—7.7%
|
|
2,938
|
|
AbbVie, Inc.
|
430,123
|
2,247
|
1
|
Agios Pharmaceuticals, Inc.
|
61,882
|
9,253
|
1
|
Align Technology, Inc.
|
1,797,858
|
3,826
|
|
Amgen, Inc.
|
1,034,359
|
7,913
|
1
|
AnaptysBio, Inc.
|
228,290
|
1,554
|
1
|
Biogen, Inc.
|
440,466
|
8,706
|
|
Bristol-Myers Squibb Co.
|
674,454
|
2,567
|
1
|
Centene Corp.
|
218,529
|
252
|
1
|
Charles River Laboratories International, Inc.
|
53,487
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
COMMON STOCKS—continued
|
|
|
|
Health Care—continued
|
|
308
|
|
CIGNA Corp.
|
$ 99,502
|
15,524
|
1
|
Community Health Systems, Inc.
|
44,554
|
5,679
|
|
CVS Health Corp.
|
537,801
|
3,781
|
|
Dentsply Sirona, Inc.
|
116,530
|
51,357
|
1
|
Elanco Animal Health, Inc.
|
677,399
|
160
|
|
Elevance Health, Inc.
|
87,483
|
3,103
|
|
Eli Lilly & Co.
|
1,123,565
|
1,242
|
1
|
Emergent BioSolutions, Inc.
|
25,908
|
13,008
|
1
|
Enovis Corp.
|
643,246
|
11,951
|
|
Gilead Sciences, Inc.
|
937,675
|
258
|
|
Humana, Inc.
|
143,985
|
1,078
|
|
McKesson Corp.
|
419,741
|
10,675
|
|
Merck & Co., Inc.
|
1,080,310
|
174
|
1
|
Molina Healthcare, Inc.
|
62,442
|
7,854
|
1
|
Myriad Genetics, Inc.
|
162,892
|
17,237
|
1
|
Nevro Corp.
|
660,867
|
2,990
|
1
|
Omnicell, Inc.
|
231,187
|
9,915
|
|
Pfizer, Inc.
|
461,543
|
91
|
1
|
Regeneron Pharmaceuticals, Inc.
|
68,136
|
3,418
|
|
Teleflex, Inc.
|
733,366
|
256
|
1
|
United Therapeutics Corp.
|
59,016
|
951
|
|
UnitedHealth Group, Inc.
|
527,948
|
1,505
|
1
|
Vertex Pharmaceuticals, Inc.
|
469,560
|
|
|
TOTAL
|
14,314,104
|
|
|
Industrials—3.9%
|
|
234
|
|
3M Co.
|
29,435
|
1,710
|
|
AGCO Corp.
|
212,331
|
1,315
|
1
|
Alaska Air Group, Inc.
|
58,465
|
5,115
|
|
Allegion PLC
|
535,899
|
7,124
|
1
|
CIRCOR International, Inc.
|
147,253
|
171
|
|
Equifax, Inc.
|
28,991
|
3,539
|
|
Expeditors International Washington, Inc.
|
346,291
|
8,282
|
1
|
Generac Holdings, Inc.
|
959,967
|
898
|
|
General Electric Co.
|
69,873
|
2,507
|
1
|
KAR Auction Services, Inc.
|
36,427
|
2,523
|
|
Lennox International, Inc.
|
589,297
|
1,342
|
|
Manpower, Inc.
|
105,132
|
19,230
|
|
Pentair PLC
|
825,928
|
10,000
|
|
Pitney Bowes, Inc.
|
31,100
|
6,604
|
|
Robert Half International, Inc.
|
504,942
|
4,737
|
|
Ryder System, Inc.
|
381,376
|
1,398
|
1
|
SkyWest, Inc.
|
24,717
|
7,730
|
1
|
SPX Corp.
|
508,943
|
1,034
|
|
Trane Technologies PLC
|
165,057
|
6,116
|
1
|
Trex Co., Inc.
|
294,118
|
1,458
|
1
|
TriNet Group, Inc.
|
94,741
|
3,954
|
|
Waste Management, Inc.
|
626,195
|
3,385
|
1
|
Willscot Corp.
|
143,964
|
11,425
|
1
|
XPO Logistics, Inc.
|
591,130
|
|
|
TOTAL
|
7,311,572
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
COMMON STOCKS—continued
|
|
|
|
Information Technology—11.8%
|
|
5,352
|
1
|
Adobe, Inc.
|
$ 1,704,612
|
19,662
|
|
Apple, Inc.
|
3,014,971
|
5,553
|
1
|
Arista Networks, Inc.
|
671,136
|
1,560
|
|
Automatic Data Processing, Inc.
|
377,052
|
2,290
|
1
|
Box, Inc.
|
66,524
|
3,677
|
1
|
Cerence, Inc.
|
63,244
|
4,701
|
1
|
Cirrus Logic, Inc.
|
315,531
|
2,925
|
|
Cognex Corp.
|
135,223
|
2,931
|
1
|
Commvault Systems, Inc.
|
178,469
|
22,873
|
|
Dell Technologies, Inc.
|
878,323
|
8,038
|
1
|
DocuSign, Inc.
|
388,235
|
14,042
|
1
|
DXC Technology Co.
|
403,707
|
14,151
|
|
Hewlett Packard Enterprise Co.
|
201,935
|
14,878
|
1
|
IPG Photonics Corp.
|
1,274,449
|
1,416
|
1
|
LiveRamp Holdings, Inc.
|
25,998
|
7,704
|
|
Microsoft Corp.
|
1,788,329
|
10,377
|
|
Paychex, Inc.
|
1,227,703
|
27,634
|
1
|
PayPal Holdings, Inc.
|
2,309,650
|
18,478
|
|
Pegasystems, Inc.
|
687,566
|
30,666
|
1
|
Pure Storage, Inc.
|
946,353
|
12,035
|
1
|
Qorvo, Inc.
|
1,035,973
|
42,024
|
1
|
Semtech Corp.
|
1,163,645
|
9,366
|
|
Skyworks Solutions, Inc.
|
805,570
|
1,376
|
|
Universal Display Corp.
|
131,023
|
8,203
|
|
Vishay Intertechnology, Inc.
|
171,525
|
31,056
|
|
Western Union Co.
|
419,567
|
9,197
|
|
Xerox Holdings Corp.
|
134,552
|
18,894
|
1
|
Zoom Video Communications, Inc.
|
1,576,515
|
|
|
TOTAL
|
22,097,380
|
|
|
Materials—1.3%
|
|
5,540
|
|
Alcoa Corp.
|
216,226
|
7,915
|
1
|
Berry Global Group, Inc.
|
374,538
|
2,647
|
|
CF Industries Holdings, Inc.
|
281,270
|
7,013
|
|
Mosaic Co./The
|
376,949
|
10,836
|
|
Newmont Corp.
|
458,580
|
2,725
|
|
Nucor Corp.
|
358,010
|
2,962
|
|
Steel Dynamics, Inc.
|
278,576
|
5,688
|
|
United States Steel Corp.
|
115,808
|
|
|
TOTAL
|
2,459,957
|
|
|
Real Estate—3.1%
|
|
6,600
|
|
American Homes 4 Rent
|
210,804
|
1,300
|
|
American Tower Corp.
|
269,347
|
14,500
|
|
Brixmor Property Group, Inc.
|
308,995
|
4,309
|
1
|
Cushman & Wakefield PLC
|
49,769
|
2,200
|
|
EastGroup Properties, Inc.
|
344,718
|
7,700
|
|
EPR PPTYS
|
297,220
|
4,400
|
|
Equity Residential Properties Trust
|
277,288
|
1,400
|
|
Extra Space Storage, Inc.
|
248,416
|
5,700
|
|
Gaming and Leisure Properties, Inc.
|
285,684
|
6,600
|
|
Invitation Homes, Inc.
|
209,154
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
COMMON STOCKS—continued
|
|
|
|
Real Estate—continued
|
|
14,500
|
|
Kimco Realty Corp.
|
$ 310,010
|
9,000
|
|
Kite Realty Group Trust
|
176,760
|
6,300
|
|
National Retail Properties, Inc.
|
264,789
|
7,500
|
|
Pebblebrook Hotel Trust
|
120,300
|
1,250
|
|
Public Storage
|
387,188
|
6,500
|
|
Rexford Industrial Realty, Inc.
|
359,320
|
2,900
|
|
Ryman Hospitality Properties
|
257,868
|
20,000
|
|
Sunstone Hotel Investors, Inc.
|
223,000
|
9,100
|
|
UDR, Inc.
|
361,816
|
12,900
|
|
VICI Properties, Inc.
|
413,058
|
2,100
|
|
Welltower, Inc.
|
128,184
|
11,139
|
1
|
Zillow Group, Inc.
|
344,529
|
|
|
TOTAL
|
5,848,217
|
|
|
Utilities—1.3%
|
|
21,879
|
|
Exelon Corp.
|
844,311
|
16,821
|
|
NRG Energy, Inc.
|
746,852
|
1,149
|
|
Vistra Corp.
|
26,392
|
7,796
|
|
WEC Energy Group, Inc.
|
712,009
|
|
|
TOTAL
|
2,329,564
|
|
|
TOTAL COMMON STOCKS
(IDENTIFIED COST $88,554,153)
|
93,397,077
|
|
|
U.S. TREASURIES—10.0%
|
|
|
|
U.S. Treasury Bond—1.5%
|
|
$ 610,000
|
|
United States Treasury Bond, 1.875%, 11/15/2051
|
373,225
|
1,200,000
|
|
United States Treasury Bond, 2.000%, 8/15/2051
|
759,368
|
880,000
|
|
United States Treasury Bond, 2.250%, 2/15/2052
|
592,800
|
775,000
|
|
United States Treasury Bond, 2.875%, 5/15/2052
|
603,942
|
375,000
|
|
United States Treasury Bond, 3.000%, 8/15/2052
|
301,421
|
50,000
|
|
United States Treasury Bond, 3.250%, 5/15/2042
|
42,384
|
225,000
|
|
United States Treasury Bond, 3.375%, 8/15/2042
|
194,563
|
|
|
TOTAL
|
2,867,703
|
|
|
U.S. Treasury Note—8.5%
|
|
800,000
|
|
United States Treasury Note, 1.250%, 12/31/2026
|
706,998
|
600,000
|
|
United States Treasury Note, 1.875%, 2/28/2027
|
543,006
|
2,090,000
|
|
United States Treasury Note, 1.875%, 2/15/2032
|
1,740,134
|
1,025,000
|
|
United States Treasury Note, 2.375%, 3/31/2029
|
918,821
|
800,000
|
|
United States Treasury Note, 2.500%, 3/31/2027
|
742,572
|
25,000
|
|
United States Treasury Note, 2.625%, 4/15/2025
|
23,934
|
570,000
|
|
United States Treasury Note, 2.625%, 5/31/2027
|
531,474
|
400,000
|
|
United States Treasury Note, 2.625%, 7/31/2029
|
363,353
|
725,000
|
|
United States Treasury Note, 2.750%, 4/30/2027
|
679,631
|
400,000
|
|
United States Treasury Note, 2.750%, 7/31/2027
|
374,092
|
500,000
|
|
United States Treasury Note, 2.750%, 5/31/2029
|
458,168
|
750,000
|
|
United States Treasury Note, 2.750%, 8/15/2032
|
671,942
|
850,000
|
|
United States Treasury Note, 2.875%, 4/30/2029
|
785,323
|
2,570,000
|
|
United States Treasury Note, 2.875%, 5/15/2032
|
2,331,493
|
400,000
|
|
United States Treasury Note, 3.000%, 6/30/2024
|
389,576
|
500,000
|
|
United States Treasury Note, 3.125%, 8/31/2027
|
476,110
|
1,050,000
|
|
United States Treasury Note, 3.125%, 8/31/2029
|
984,652
|
800,000
|
|
United States Treasury Note, 3.250%, 8/31/2024
|
781,866
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
U.S. TREASURIES—continued
|
|
|
|
U.S. Treasury Note—continued
|
|
$ 1,100,000
|
|
United States Treasury Note, 3.250%, 6/30/2029
|
$ 1,039,218
|
600,000
|
|
United States Treasury Note, 4.125%, 9/30/2027
|
596,951
|
700,000
|
|
United States Treasury Note, 4.250%, 9/30/2024
|
696,488
|
|
|
TOTAL
|
15,835,802
|
|
|
TOTAL U.S. TREASURIES
(IDENTIFIED COST $20,789,972)
|
18,703,505
|
|
|
CORPORATE BONDS—9.2%
|
|
|
|
Basic Industry - Chemicals—0.0%
|
|
10,000
|
|
DuPont de Nemours, Inc., Sr. Unsecd. Note, 5.319%, 11/15/2038
|
9,082
|
|
|
Basic Industry - Metals & Mining—0.1%
|
|
15,000
|
|
Anglogold Ashanti Holdings PLC, Sr. Note, 6.500%, 4/15/2040
|
12,650
|
100,000
|
|
Reliance Steel & Aluminum Co., Sr. Unsecd. Note, 4.500%, 4/15/2023
|
99,814
|
20,000
|
|
Southern Copper Corp., Sr. Unsecd. Note, 6.750%, 4/16/2040
|
20,444
|
|
|
TOTAL
|
132,908
|
|
|
Capital Goods - Aerospace & Defense—0.6%
|
|
200,000
|
|
BAE Systems PLC, Sr. Unsecd. Note, 144A, 3.000%, 9/15/2050
|
122,464
|
275,000
|
|
Boeing Co., Sr. Unsecd. Note, 4.875%, 5/1/2025
|
268,502
|
110,000
|
|
Huntington Ingalls Industries, Inc., Sr. Unsecd. Note, Series WI, 3.844%, 5/1/2025
|
104,796
|
300,000
|
|
Leidos, Inc., Sr. Unsecd. Note, Series WI, 2.300%, 2/15/2031
|
221,546
|
170,000
|
|
Leidos, Inc., Sr. Unsecd. Note, Series WI, 3.625%, 5/15/2025
|
161,999
|
15,000
|
|
Spirit AeroSystems, Inc., Sr. Unsecd. Note, 4.600%, 6/15/2028
|
10,771
|
40,000
|
3
|
Textron Financial Corp., Jr. Sub. Note, 144A, 4.640% (3-month USLIBOR +1.735%), 2/15/2042
|
27,579
|
50,000
|
|
Textron, Inc., Sr. Unsecd. Note, 4.000%, 3/15/2026
|
47,747
|
50,000
|
|
Textron, Inc., Sr. Unsecd. Note, 4.300%, 3/1/2024
|
49,420
|
|
|
TOTAL
|
1,014,824
|
|
|
Capital Goods - Building Materials—0.1%
|
|
200,000
|
|
Allegion US Holdings Co., Inc., Sr. Unsecd. Note, 3.200%, 10/1/2024
|
191,220
|
|
|
Capital Goods - Diversified Manufacturing—0.1%
|
|
60,000
|
|
Lennox International, Inc., Sr. Unsecd. Note, 1.700%, 8/1/2027
|
50,094
|
175,000
|
|
Roper Technologies, Inc., Sr. Unsecd. Note, 2.000%, 6/30/2030
|
132,887
|
|
|
TOTAL
|
182,981
|
|
|
Communications - Cable & Satellite—0.2%
|
|
300,000
|
|
Charter Communications Operating, LLC/Charter Communications Operating Capital Corp., Sec. Fac. Bond,
2.250%, 1/15/2029
|
237,011
|
145,000
|
|
Comcast Corp., Sr. Unsecd. Note, 2.800%, 1/15/2051
|
86,403
|
15,000
|
|
Comcast Corp., Sr. Unsecd. Note, 3.900%, 3/1/2038
|
12,157
|
10,000
|
|
Comcast Corp., Sr. Unsecd. Note, 4.400%, 8/15/2035
|
8,769
|
|
|
TOTAL
|
344,340
|
|
|
Communications - Media & Entertainment—0.3%
|
|
30,000
|
|
Grupo Televisa S.A., Sr. Unsecd. Note, 6.125%, 1/31/2046
|
28,079
|
500,000
|
|
Meta Platforms, Inc., Sr. Unsecd. Note, 144A, 4.450%, 8/15/2052
|
371,932
|
178,000
|
|
Paramount Global, Sr. Unsecd. Note, 4.750%, 5/15/2025
|
173,935
|
|
|
TOTAL
|
573,946
|
|
|
Communications - Telecom Wireless—0.1%
|
|
150,000
|
|
Crown Castle, International Corp., Sr. Unsecd. Note, 3.700%, 6/15/2026
|
139,359
|
|
|
Communications - Telecom Wirelines—0.2%
|
|
12,000
|
|
AT&T, Inc., Sr. Unsecd. Note, 3.500%, 9/15/2053
|
7,715
|
300,000
|
|
AT&T, Inc., Sr. Unsecd. Note, 3.650%, 6/1/2051
|
200,172
|
11,000
|
|
AT&T, Inc., Sr. Unsecd. Note, 3.650%, 9/15/2059
|
6,961
|
5,000
|
|
AT&T, Inc., Sr. Unsecd. Note, 4.500%, 5/15/2035
|
4,316
|
150,000
|
|
Telefonica Emisiones SAU, Sr. Unsecd. Note, 5.520%, 3/1/2049
|
118,111
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
CORPORATE BONDS—continued
|
|
|
|
Communications - Telecom Wirelines—continued
|
|
$ 90,000
|
|
Verizon Communications, Inc., Sr. Unsecd. Note, 3.150%, 3/22/2030
|
$ 76,124
|
|
|
TOTAL
|
413,399
|
|
|
Consumer Cyclical - Automotive—0.1%
|
|
10,000
|
|
DaimlerChrysler North America Holding Corp., Company Guarantee, 8.500%, 1/18/2031
|
11,671
|
175,000
|
|
General Motors Financial Co., Inc., Sr. Unsecd. Note, 3.100%, 1/12/2032
|
133,394
|
10,000
|
|
General Motors Financial Co., Inc., Sr. Unsecd. Note, 3.950%, 4/13/2024
|
9,711
|
|
|
TOTAL
|
154,776
|
|
|
Consumer Cyclical - Retailers—0.2%
|
|
170,000
|
|
AutoNation, Inc., Sr. Unsecd. Note, 4.750%, 6/1/2030
|
146,578
|
250,000
|
|
AutoZone, Inc., Sr. Unsecd. Note, 3.250%, 4/15/2025
|
237,675
|
15,000
|
|
CVS Health Corp., Sr. Unsecd. Note, 4.100%, 3/25/2025
|
14,647
|
|
|
TOTAL
|
398,900
|
|
|
Consumer Cyclical - Services—0.2%
|
|
200,000
|
|
Alibaba Group Holding Ltd., Sr. Unsecd. Note, 2.800%, 6/6/2023
|
196,578
|
125,000
|
|
Amazon.com, Inc., Sr. Unsecd. Note, 3.800%, 12/5/2024
|
122,857
|
15,000
|
|
Expedia Group, Inc., Sr. Unsecd. Note, Series WI, 3.250%, 2/15/2030
|
12,104
|
10,000
|
|
University of Southern California, Sr. Unsecd. Note, 5.250%, 10/1/2111
|
8,819
|
70,000
|
|
Visa, Inc., Sr. Unsecd. Note, 3.150%, 12/14/2025
|
66,763
|
15,000
|
|
Visa, Inc., Sr. Unsecd. Note, 4.150%, 12/14/2035
|
13,532
|
|
|
TOTAL
|
420,653
|
|
|
Consumer Non-Cyclical - Food/Beverage—0.5%
|
|
30,000
|
|
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide, Inc., Sr. Unsecd. Note, 4.700%, 2/1/2036
|
27,156
|
300,000
|
|
Danone SA, Sr. Unsecd. Note, 144A, 2.947%, 11/2/2026
|
274,367
|
140,000
|
|
Flowers Foods, Inc., Sr. Unsecd. Note, 3.500%, 10/1/2026
|
129,008
|
80,000
|
|
General Mills, Inc., Sr. Unsecd. Note, 3.000%, 2/1/2051
|
50,243
|
270,000
|
|
Heineken NV, Sr. Unsecd. Note, 144A, 3.500%, 1/29/2028
|
248,568
|
200,000
|
|
Kerry Group Financial Services, Sr. Unsecd. Note, 144A, 3.200%, 4/9/2023
|
197,949
|
50,000
|
|
Mead Johnson Nutrition Co., Sr. Unsecd. Note, 4.125%, 11/15/2025
|
48,266
|
|
|
TOTAL
|
975,557
|
|
|
Consumer Non-Cyclical - Health Care—0.1%
|
|
135,000
|
|
Agilent Technologies, Inc., Sr. Unsecd. Note, 2.750%, 9/15/2029
|
113,307
|
180,000
|
|
Dentsply Sirona, Inc., Sr. Unsecd. Note, 3.250%, 6/1/2030
|
140,664
|
|
|
TOTAL
|
253,971
|
|
|
Consumer Non-Cyclical - Pharmaceuticals—0.2%
|
|
500,000
|
|
AbbVie, Inc., Sr. Unsecd. Note, 4.250%, 11/21/2049
|
388,549
|
15,000
|
|
Amgen, Inc., Sr. Unsecd. Note, 4.400%, 5/1/2045
|
12,128
|
10,000
|
|
Bristol-Myers Squibb Co., Sr. Unsecd. Note, Series WI, 4.125%, 6/15/2039
|
8,494
|
15,000
|
|
Johnson & Johnson, Sr. Unsecd. Note, 3.550%, 3/1/2036
|
12,837
|
|
|
TOTAL
|
422,008
|
|
|
Energy - Independent—0.2%
|
|
250,000
|
|
Canadian Natural Resources Ltd., Sr. Unsecd. Note, 3.900%, 2/1/2025
|
241,211
|
125,000
|
|
Cimarex Energy Co., Sr. Unsecd. Note, 3.900%, 5/15/2027
|
112,080
|
20,000
|
|
EQT Corp., Sr. Unsecd. Note, 3.900%, 10/1/2027
|
18,000
|
|
|
TOTAL
|
371,291
|
|
|
Energy - Integrated—0.5%
|
|
135,000
|
|
BP Capital Markets America, Inc., Sr. Unsecd. Note, 3.119%, 5/4/2026
|
125,972
|
300,000
|
|
BP Capital Markets America, Inc., Sr. Unsecd. Note, 3.937%, 9/21/2028
|
278,780
|
5,000
|
|
ConocoPhillips Co., Sr. Unsecd. Note, 4.025%, 3/15/2062
|
3,710
|
270,000
|
|
Exxon Mobil Corp., Sr. Unsecd. Note, 2.992%, 3/19/2025
|
258,473
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
CORPORATE BONDS—continued
|
|
|
|
Energy - Integrated—continued
|
|
$ 240,000
|
|
Husky Energy, Inc., Sr. Unsecd. Note, 4.400%, 4/15/2029
|
$ 219,179
|
|
|
TOTAL
|
886,114
|
|
|
Energy - Midstream—0.3%
|
|
125,000
|
|
Boardwalk Pipeline Partners LP, Sr. Unsecd. Note, 3.600%, 9/1/2032
|
99,242
|
20,000
|
|
Energy Transfer Operating, Sr. Unsecd. Note, 5.500%, 6/1/2027
|
19,479
|
115,000
|
|
Energy Transfer Partners LP, Sr. Unsecd. Note, 4.050%, 3/15/2025
|
110,160
|
75,000
|
|
Energy Transfer Partners LP, Sr. Unsecd. Note, 4.900%, 2/1/2024
|
74,307
|
10,000
|
|
Energy Transfer Partners LP, Sr. Unsecd. Note, 6.125%, 12/15/2045
|
8,597
|
170,000
|
|
Enterprise Products Operating LLC, Sr. Unsecd. Note, 3.950%, 2/15/2027
|
160,528
|
20,000
|
|
Kinder Morgan Energy Partners LP, Sr. Unsecd. Note, Series MTN, 6.950%, 1/15/2038
|
19,912
|
40,000
|
|
MPLX LP, Sr. Unsecd. Note, 4.125%, 3/1/2027
|
37,122
|
5,000
|
|
MPLX LP, Sr. Unsecd. Note, 4.500%, 4/15/2038
|
3,995
|
70,000
|
|
Targa Resources, Inc., Sr. Unsecd. Note, 4.200%, 2/1/2033
|
58,536
|
|
|
TOTAL
|
591,878
|
|
|
Energy - Refining—0.0%
|
|
15,000
|
|
HF Sinclair Corp., Sr. Unsecd. Note, 5.875%, 4/1/2026
|
14,601
|
15,000
|
|
Marathon Petroleum Corp., Sr. Unsecd. Note, 4.500%, 4/1/2048
|
11,308
|
10,000
|
|
Marathon Petroleum Corp., Sr. Unsecd. Note, 6.500%, 3/1/2041
|
9,760
|
15,000
|
|
Valero Energy Corp., Sr. Unsecd. Note, 4.350%, 6/1/2028
|
14,147
|
|
|
TOTAL
|
49,816
|
|
|
Financial Institution - Banking—1.8%
|
|
74,000
|
|
American Express Co., Sr. Unsecd. Note, 2.650%, 12/2/2022
|
73,911
|
300,000
|
|
Bank of America Corp., Sr. Unsecd. Note, Series GMTN, 3.500%, 4/19/2026
|
280,332
|
200,000
|
|
Bank of America Corp., Sub. Note, Series L, 3.950%, 4/21/2025
|
191,496
|
15,000
|
|
Bank of America Corp., Sub. Note, Series MTN, 4.200%, 8/26/2024
|
14,675
|
15,000
|
|
Bank of America Corp., Sub., Series MTN, 4.450%, 3/3/2026
|
14,400
|
20,000
|
|
Bank of New York Mellon, N.A., Sr. Unsecd. Note, 3.400%, 5/15/2024
|
19,507
|
165,000
|
|
Citigroup, Inc., Sr. Unsecd. Note, 3.057%, 1/25/2033
|
128,743
|
250,000
|
|
Citigroup, Inc., Sr. Unsecd. Note, 3.300%, 4/27/2025
|
237,354
|
170,000
|
|
Citigroup, Inc., Sr. Unsecd. Note, 3.400%, 5/1/2026
|
157,599
|
300,000
|
|
Citigroup, Inc., Sr. Unsecd. Note, 3.785%, 3/17/2033
|
248,879
|
370,000
|
|
Citigroup, Inc., Sr. Unsecd. Note, 5.610%, 9/29/2026
|
365,345
|
15,000
|
|
Citigroup, Inc., Sub. Note, 4.450%, 9/29/2027
|
13,936
|
30,000
|
|
Comerica, Inc., 3.800%, 7/22/2026
|
28,127
|
75,000
|
|
Fifth Third Bancorp, Sr. Unsecd. Note, 3.650%, 1/25/2024
|
73,313
|
250,000
|
|
FNB Corp. (PA), Sr. Unsecd. Note, 5.150%, 8/25/2025
|
245,738
|
40,000
|
|
Goldman Sachs Group, Inc., Sr. Unsecd. Note, 3.200%, 2/23/2023
|
39,780
|
275,000
|
|
Goldman Sachs Group, Inc., Sr. Unsecd. Note, 3.625%, 1/22/2023
|
274,388
|
150,000
|
|
Goldman Sachs Group, Inc., Sr. Unsecd. Note, 6.250%, 2/1/2041
|
147,170
|
10,000
|
4
|
JPMorgan Chase & Co., Jr. Sub. Deb., Series X, 6.100%, 10/1/2024
|
9,797
|
25,000
|
4
|
JPMorgan Chase & Co., Jr. Sub. Note, Series FF, 5.000%, 8/1/2024
|
23,048
|
20,000
|
|
JPMorgan Chase & Co., Sr. Unsecd. Note, 3.559%, 4/23/2024
|
19,809
|
15,000
|
|
JPMorgan Chase & Co., Sr. Unsecd. Note, 3.882%, 7/24/2038
|
11,647
|
400,000
|
|
JPMorgan Chase & Co., Sub. Note, 3.375%, 5/1/2023
|
397,123
|
100,000
|
|
Morgan Stanley, Sr. Unsecd. Note, 2.943%, 1/21/2033
|
78,017
|
15,000
|
|
Morgan Stanley, Sr. Unsecd. Note, Series GMTN, 3.125%, 1/23/2023
|
14,950
|
15,000
|
|
Morgan Stanley, Sr. Unsecd. Note, Series GMTN, 4.000%, 7/23/2025
|
14,425
|
15,000
|
|
Morgan Stanley, Sub. Note, Series MTN, 4.100%, 5/22/2023
|
14,926
|
10,000
|
|
State Street Corp., Sub. Deb., 3.031%, 11/1/2034
|
8,132
|
45,000
|
|
Sumitomo Mitsui Financial Group, Inc., Sr. Unsecd. Note, 3.102%, 1/17/2023
|
44,852
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
CORPORATE BONDS—continued
|
|
|
|
Financial Institution - Banking—continued
|
|
$ 250,000
|
|
US Bancorp, Sr. Unsecd. Note, Series MTN, 1.375%, 7/22/2030
|
$ 184,640
|
10,000
|
|
Wells Fargo & Co., Series MTN, 4.100%, 6/3/2026
|
9,466
|
10,000
|
|
Westpac Banking Corp., Sub., Series GMTN, 4.322%, 11/23/2031
|
8,984
|
|
|
TOTAL
|
3,394,509
|
|
|
Financial Institution - Broker/Asset Mgr/Exchange—0.1%
|
|
80,000
|
|
Invesco Finance PLC, Sr. Unsecd. Note, 3.750%, 1/15/2026
|
75,749
|
70,000
|
|
Nuveen LLC, Sr. Unsecd. Note, 144A, 4.000%, 11/1/2028
|
64,105
|
|
|
TOTAL
|
139,854
|
|
|
Financial Institution - Finance Companies—0.1%
|
|
150,000
|
|
AerCap Ireland Capital Ltd. / AerCap Global Aviation Trust, Sr. Unsecd. Note, 4.875%, 1/16/2024
|
147,271
|
|
|
Financial Institution - Insurance - Health—0.2%
|
|
300,000
|
|
UnitedHealth Group, Inc., Sr. Unsecd. Note, 4.750%, 5/15/2052
|
262,822
|
|
|
Financial Institution - Insurance - Life—0.3%
|
|
400,000
|
|
AIA Group Ltd., Sub., 144A, 3.200%, 9/16/2040
|
258,927
|
15,000
|
|
MetLife, Inc., Jr. Sub. Note, 6.400%, 12/15/2036
|
13,876
|
10,000
|
|
MetLife, Inc., Jr. Sub. Note, 10.750%, 8/1/2039
|
12,933
|
250,000
|
|
MetLife, Inc., Sr. Unsecd. Note, 3.600%, 4/10/2024
|
244,575
|
15,000
|
|
Penn Mutual Life Insurance Co., Sr. Note, 144A, 7.625%, 6/15/2040
|
15,846
|
10,000
|
|
Principal Financial Group, Inc., Sr. Unsecd. Note, 3.125%, 5/15/2023
|
9,895
|
50,000
|
|
Prudential Financial, Inc., Sr. Unsecd. Note, Series MTN, 6.200%, 11/15/2040
|
48,844
|
|
|
TOTAL
|
604,896
|
|
|
Financial Institution - Insurance - P&C—0.0%
|
|
10,000
|
|
Berkshire Hathaway Finance Corp., Sr. Unsecd. Note, 4.200%, 8/15/2048
|
8,070
|
55,000
|
|
Nationwide Mutual Insurance Co., Sub., 144A, 4.350%, 4/30/2050
|
39,413
|
|
|
TOTAL
|
47,483
|
|
|
Financial Institution - REIT - Apartment—0.1%
|
|
60,000
|
|
Camden Property Trust, Sr. Unsecd. Note, 2.800%, 5/15/2030
|
49,455
|
200,000
|
|
UDR, Inc., Sr. Unsecd. Note, Series MTN, 2.100%, 8/1/2032
|
141,305
|
70,000
|
|
UDR, Inc., Sr. Unsecd. Note, Series MTN, 2.950%, 9/1/2026
|
63,140
|
|
|
TOTAL
|
253,900
|
|
|
Financial Institution - REIT - Healthcare—0.1%
|
|
185,000
|
|
Welltower, Inc., Sr. Unsecd. Note, 2.700%, 2/15/2027
|
163,795
|
|
|
Financial Institution - REIT - Office—0.0%
|
|
70,000
|
|
Alexandria Real Estate Equities, Inc., Sr. Unsecd. Note, 3.950%, 1/15/2028
|
64,016
|
|
|
Financial Institution - REIT - Other—0.0%
|
|
75,000
|
|
WP Carey, Inc., Sr. Unsecd. Note, 4.600%, 4/1/2024
|
73,869
|
|
|
Food & Beverage—0.0%
|
|
15,000
|
|
Kraft Heinz Foods Co., Sr. Unsecd. Note, 5.200%, 7/15/2045
|
13,138
|
|
|
Midstream—0.0%
|
|
10,000
|
|
Western Gas Partners LP, Sr. Unsecd. Note, 4.750%, 8/15/2028
|
9,243
|
|
|
Technology—0.5%
|
|
30,000
|
|
Apple, Inc., Sr. Unsecd. Note, 2.400%, 5/3/2023
|
29,668
|
10,000
|
|
Apple, Inc., Sr. Unsecd. Note, 3.850%, 5/4/2043
|
8,155
|
70,000
|
|
Broadcom, Inc., Sr. Unsecd. Note, 144A, 3.750%, 2/15/2051
|
44,999
|
220,000
|
|
Broadcom, Inc., Sr. Unsecd. Note, 144A, 4.150%, 4/15/2032
|
184,433
|
20,000
|
|
Corning, Inc., Unsecd. Note, 4.750%, 3/15/2042
|
16,868
|
240,000
|
|
Dell International LLC / EMC Corp., Sr. Unsecd. Note, 6.020%, 6/15/2026
|
239,754
|
110,000
|
|
Fiserv, Inc., Sr. Unsecd. Note, 3.500%, 7/1/2029
|
95,527
|
265,000
|
|
Intel Corp., Sr. Unsecd. Note, 3.400%, 3/25/2025
|
256,267
|
7,000
|
|
Microsoft Corp., Sr. Unsecd. Note, 2.921%, 3/17/2052
|
4,741
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
CORPORATE BONDS—continued
|
|
|
|
Technology—continued
|
|
$ 8,000
|
|
Microsoft Corp., Sr. Unsecd. Note, 3.450%, 8/8/2036
|
$ 6,866
|
|
|
TOTAL
|
887,278
|
|
|
Technology Services—0.0%
|
|
5,000
|
|
Global Payments, Inc., Sr. Unsecd. Note, 3.200%, 8/15/2029
|
4,161
|
|
|
Transportation - Airlines—0.1%
|
|
30,000
|
|
Delta Air Lines, Inc., Sr. Unsecd. Note, 2.900%, 10/28/2024
|
28,400
|
110,000
|
|
Southwest Airlines Co., Sr. Unsecd. Note, 5.250%, 5/4/2025
|
109,463
|
|
|
TOTAL
|
137,863
|
|
|
Transportation - Railroads—0.1%
|
|
30,000
|
|
Kansas City Southern Industries, Inc., Sr. Unsecd. Note, 3.000%, 5/15/2023
|
29,624
|
225,000
|
|
Kansas City Southern Industries, Inc., Sr. Unsecd. Note, 3.125%, 6/1/2026
|
207,865
|
|
|
TOTAL
|
237,489
|
|
|
Transportation - Services—0.2%
|
|
15,000
|
|
Enterprise Rent-A-Car USA Finance Co., Sr. Unsecd. Note, 144A, 5.625%, 3/15/2042
|
13,122
|
20,000
|
|
FedEx Corp., Sr. Unsecd. Note, 3.900%, 2/1/2035
|
16,340
|
200,000
|
|
Ryder System, Inc., Sr. Unsecd. Note, Series MTN, 3.750%, 6/9/2023
|
198,156
|
125,000
|
|
United Parcel Service, Inc., Sr. Unsecd. Note, 3.900%, 4/1/2025
|
122,323
|
|
|
TOTAL
|
349,941
|
|
|
Utility - Electric—1.2%
|
|
200,000
|
|
Alabama Power Co., Sr. Unsecd. Note, 3.000%, 3/15/2052
|
126,238
|
90,000
|
|
Ameren Corp., Sr. Unsecd. Note, 1.950%, 3/15/2027
|
77,334
|
70,000
|
|
Electricite de France SA, Note, 144A, 5.600%, 1/27/2040
|
58,189
|
300,000
|
|
Electricite de France SA, Sr. Unsecd. Note, 144A, 4.500%, 9/21/2028
|
271,976
|
140,000
|
|
Emera US Finance LP, Sr. Unsecd. Note, 4.750%, 6/15/2046
|
104,077
|
170,000
|
|
EverSource Energy, Sr. Unsecd. Note, 3.350%, 3/15/2026
|
157,846
|
200,000
|
|
Exelon Corp., Sr. Unsecd. Note, 3.400%, 4/15/2026
|
186,749
|
110,000
|
|
National Rural Utilities Cooperative Finance Corp., Sr. Sub. Note, 5.250%, 4/20/2046
|
97,966
|
25,000
|
|
National Rural Utilities Cooperative Finance Corp., Sr. Unsecd. Note, Series MTNC, 8.000%, 3/1/2032
|
28,976
|
300,000
|
|
Oncor Electric Delivery Co. LLC, Sec. Fac. Bond, 144A, 4.950%, 9/15/2052
|
269,484
|
250,000
|
|
PPL Capital Funding, Inc., Sr. Unsecd. Note, 3.100%, 5/15/2026
|
228,405
|
175,000
|
|
Southern Co., Sr. Unsecd. Note, 3.250%, 7/1/2026
|
161,866
|
300,000
|
|
WEC Energy Group, Inc., Sr. Unsecd. Note, 1.800%, 10/15/2030
|
226,800
|
170,000
|
|
WEC Energy Group, Inc., Sr. Unsecd. Note, 5.150%, 10/1/2027
|
167,445
|
|
|
TOTAL
|
2,163,351
|
|
|
Utility - Natural Gas—0.4%
|
|
65,000
|
|
National Fuel Gas Co., Sr. Unsecd. Note, 3.750%, 3/1/2023
|
64,529
|
445,000
|
|
National Fuel Gas Co., Sr. Unsecd. Note, 5.500%, 1/15/2026
|
435,971
|
230,000
|
|
ONE Gas, Inc., Sr. Unsecd. Note, 4.250%, 9/1/2032
|
210,499
|
5,000
|
|
TransCanada PipeLines Ltd., Sr. Unsecd. Note, 6.200%, 10/15/2037
|
4,871
|
|
|
TOTAL
|
715,870
|
|
|
TOTAL CORPORATE BONDS
(IDENTIFIED COST $19,466,676)
|
17,197,772
|
|
|
ASSET-BACKED SECURITIES—1.5%
|
|
|
|
Auto Receivables—0.5%
|
|
473,891
|
|
Santander Bank Auto Credit-Linked Notes 2022-B, Class D, 6.793%, 8/16/2032
|
472,343
|
400,000
|
|
Toyota Auto Receivables Owner Trust 2020-B, Class A4, 1.660%, 9/15/2025
|
388,076
|
90,000
|
|
World Omni Auto Receivables Trust 2021-A, Class C, 0.890%, 8/16/2027
|
82,731
|
|
|
TOTAL
|
943,150
|
|
|
Credit Card—0.2%
|
|
400,000
|
|
Master Credit Card Trust 2022-2A, Class C, 2.730%, 7/21/2028
|
350,526
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
ASSET-BACKED SECURITIES—continued
|
|
|
|
Equipment Lease—0.5%
|
|
$ 500,000
|
|
HPEFS Equipment Trust 2020-2A, Class C, 2.000%, 7/22/2030
|
$ 496,845
|
500,000
|
|
HPEFS Equipment Trust 2022-1A, Class C, 1.960%, 5/21/2029
|
466,360
|
|
|
TOTAL
|
963,205
|
|
|
Other—0.2%
|
|
450,000
|
|
PFS Financing Corp. 2020-G, Class A, 0.970%, 2/15/2026
|
427,654
|
|
|
Student Loans—0.1%
|
|
238,665
|
|
Navient Student Loan Trust 2021-A, Class A, 0.840%, 5/15/2069
|
202,610
|
|
|
TOTAL ASSET-BACKED SECURITIES
(IDENTIFIED COST $3,052,121)
|
2,887,145
|
|
|
COLLATERALIZED MORTGAGE OBLIGATIONS—0.5%
|
|
|
|
Commercial Mortgage—0.3%
|
|
190,000
|
|
Bank, Class A4, 3.488%, 11/15/2050
|
171,145
|
200,000
|
|
Commercial Mortgage Trust 2013-CR8, Class B, 3.916%, 6/10/2046
|
195,671
|
200,000
|
|
JPMDB Commercial Mortgage Securities Trust 2016-C4, Class A3, 3.141%, 12/15/2049
|
181,809
|
|
|
TOTAL
|
548,625
|
|
|
Federal Home Loan Mortgage Corporation—0.2%
|
|
1,966
|
|
Federal Home Loan Mortgage Corp. REMIC, Series 2497, Class JH, 6.000%, 9/15/2032
|
1,997
|
31,745
|
|
Federal Home Loan Mortgage Corp. REMIC, Series K055, Class A1, 2.263%, 4/25/2025
|
30,647
|
350,000
|
|
Federal Home Loan Mortgage Corp. REMIC, Series K737, Class A2, 2.525%, 10/25/2026
|
321,837
|
|
|
TOTAL
|
354,481
|
|
|
Federal National Mortgage Association—0.0%
|
|
232
|
|
Federal National Mortgage Association REMIC, Series 1993-113, Class SB, 9.748% (10-year Constant Maturity Treasury
+48.285%, Cap 9.749%), 7/25/2023
|
233
|
330
|
|
Federal National Mortgage Association REMIC, Series 2003-35, Class UC, 3.750%, 5/25/2033
|
322
|
|
|
TOTAL
|
555
|
|
|
Non-Agency Mortgage—0.0%
|
|
51
|
4
|
Bear Stearns Mortgage Securities, Inc. 1997-6, Class 1A, 6.408%, 3/25/2031
|
49
|
|
|
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(IDENTIFIED COST $1,002,052)
|
903,710
|
|
|
MORTGAGE-BACKED SECURITIES—0.2%
|
|
|
|
Federal Home Loan Mortgage Corporation—0.0%
|
|
22,371
|
|
Federal Home Loan Mortgage Corp., Pool G07801, 4.000%, 10/1/2044
|
20,905
|
|
|
Federal National Mortgage Association—0.2%
|
|
5,889
|
|
Federal National Mortgage Association, Pool 357761, 5.500%, 5/1/2035
|
5,969
|
658
|
|
Federal National Mortgage Association, Pool 728709, 5.500%, 7/1/2033
|
665
|
22,520
|
|
Federal National Mortgage Association, Pool 932864, 4.000%, 12/1/2040
|
21,159
|
39,558
|
|
Federal National Mortgage Association, Pool AB7859, 3.500%, 2/1/2043
|
35,900
|
30,085
|
|
Federal National Mortgage Association, Pool AD6938, 4.500%, 6/1/2040
|
29,179
|
13,302
|
|
Federal National Mortgage Association, Pool AQ0945, 3.000%, 11/1/2042
|
11,677
|
16,331
|
|
Federal National Mortgage Association, Pool AT2127, 3.000%, 4/1/2043
|
14,325
|
11,566
|
|
Federal National Mortgage Association, Pool AT7861, 3.000%, 6/1/2028
|
10,940
|
16,060
|
|
Federal National Mortgage Association, Pool BM4388, 4.000%, 8/1/2048
|
14,912
|
8,753
|
|
Federal National Mortgage Association, Pool BM5024, 3.000%, 11/1/2048
|
7,582
|
11,396
|
|
Federal National Mortgage Association, Pool BM5246, 3.500%, 11/1/2048
|
10,207
|
13,956
|
|
Federal National Mortgage Association, Pool CA0833, 3.500%, 12/1/2047
|
12,517
|
10,588
|
|
Federal National Mortgage Association, Pool CA4427, 3.000%, 10/1/2049
|
9,025
|
8,404
|
|
Federal National Mortgage Association, Pool FM0008, 3.500%, 8/1/2049
|
7,528
|
22,776
|
|
Federal National Mortgage Association, Pool FM1000, 3.000%, 4/1/2047
|
19,850
|
10,282
|
|
Federal National Mortgage Association, Pool FM1221, 3.500%, 7/1/2049
|
9,223
|
17,027
|
|
Federal National Mortgage Association, Pool MA0500, 5.000%, 8/1/2040
|
16,971
|
19,639
|
|
Federal National Mortgage Association, Pool MA0666, 4.500%, 3/1/2041
|
19,043
|
Shares or
Principal
Amount
|
|
|
Value
|
|
|
MORTGAGE-BACKED SECURITIES—continued
|
|
|
|
Federal National Mortgage Association—continued
|
|
$ 23,748
|
|
Federal National Mortgage Association, Pool MA1430, 3.000%, 5/1/2043
|
$ 20,831
|
24,393
|
|
Federal National Mortgage Association, Pool MA2803, 2.500%, 11/1/2031
|
22,510
|
|
|
TOTAL
|
300,013
|
|
|
Government National Mortgage Association—0.0%
|
|
13,548
|
|
Government National Mortgage Association, Pool MA0625, 3.500%, 12/20/2042
|
12,439
|
8,717
|
|
Government National Mortgage Association, Pool MA1376, 4.000%, 10/20/2043
|
8,252
|
|
|
TOTAL
|
20,691
|
|
|
TOTAL MORTGAGE-BACKED SECURITIES
(IDENTIFIED COST $379,359)
|
341,609
|
|
|
COMMERCIAL MORTGAGE-BACKED SECURITY—0.2%
|
|
|
|
Federal Home Loan Mortgage Corporation—0.2%
|
|
388,548
|
|
Federal Home Loan Mortgage Corp. REMIC, Series K106, Class A1, 1.783%, 10/25/2029
(IDENTIFIED COST $390,481)
|
336,225
|
|
|
GOVERNMENT AGENCY—0.1%
|
|
|
|
Federal National Mortgage Association—0.1%
|
|
250,000
|
|
Federal National Mortgage Association Notes, 0.625%, 4/22/2025
(IDENTIFIED COST $249,743)
|
227,012
|
|
|
MUNICIPAL BOND—0.0%
|
|
30,000
|
|
Texas State Transportation Commission - State Highway Fund, 5.178%, 4/1/2030
(IDENTIFIED COST $33,078)
|
29,538
|
|
|
EXCHANGE-TRADED FUND—5.3%
|
|
166,500
|
2
|
iShares MSCI EAFE ETF
(IDENTIFIED COST $11,609,120)
|
9,875,115
|
|
|
INVESTMENT COMPANIES—25.7%
|
|
19,889
|
|
Bank Loan Core Fund
|
172,839
|
350,296
|
|
Emerging Markets Core Fund
|
2,581,678
|
4,990,208
|
|
Federated Hermes Government Obligations Fund, Premier Shares, 2.94%5
|
4,990,208
|
17,884,112
|
|
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 3.08%5
|
17,873,381
|
177,465
|
|
High Yield Bond Core Fund
|
926,366
|
2,189,114
|
|
Mortgage Core Fund
|
17,841,282
|
421,990
|
|
Project and Trade Finance Core Fund
|
3,658,656
|
|
|
TOTAL INVESTMENT COMPANIES
(IDENTIFIED COST $51,572,406)
|
48,044,410
|
|
|
TOTAL INVESTMENT IN SECURITIES—102.6%
(IDENTIFIED COST $197,099,161)
|
191,943,118
|
|
|
OTHER ASSETS AND LIABILITIES - NET—(2.6)%6
|
(4,783,223)
|
|
|
TOTAL NET ASSETS—100%
|
$187,159,895
|
Description
|
Number of
Contracts
|
Notional
Value
|
Expiration
Date
|
Value and
Unrealized
Appreciation
(Depreciation)
|
Long Futures:
|
|
|
|
|
Euro-Bund Long Futures
|
12
|
$1,641,759
|
December 2022
|
$(78,567)
|
United States Treasury Long Bond Long Futures
|
2
|
$241,000
|
December 2022
|
$(30,755)
|
United States Treasury Notes 2-Year Long Futures
|
25
|
$5,109,570
|
December 2022
|
$(56,792)
|
United States Treasury Notes 5-Year Long Futures
|
16
|
$1,705,500
|
December 2022
|
$(57,642)
|
United States Treasury Notes 10-Year Ultra Long Futures
|
5
|
$579,922
|
December 2022
|
$(21,961)
|
United States Treasury Ultra Bond Long Futures
|
2
|
$255,313
|
December 2022
|
$(30,442)
|
Short Futures:
|
|
|
|
|
Euro-Schatz Short Futures
|
70
|
$7,397,494
|
December 2022
|
$78,835
|
United States Treasury Notes 10-Year Short Futures
|
16
|
$1,769,500
|
December 2022
|
$82,042
|
NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS
|
$(115,282)
|
Affiliates
|
Value as of
7/31/2022
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation/
Depreciation
|
Net
Realized
Gain/
(Loss)
|
Value as of
10/31/2022
|
Shares
Held as of
10/31/2022
|
Dividend
Income
|
Bank Loan Core Fund
|
$174,026
|
$3,140
|
$—
|
$(4,327)
|
$—
|
$172,839
|
19,889
|
$3,142
|
Emerging Markets Core Fund
|
$2,048,880
|
$1,409,587
|
$(782,950)
|
$19,134
|
$(112,973)
|
$2,581,678
|
350,296
|
$27,368
|
Federated Hermes Government obligation fund*
|
$7,041,989
|
$78,172,382
|
$(80,224,163)
|
$—
|
$—
|
$4,990,208
|
4,990,208
|
$—
|
Federated Hermes Prime Value Obligation Fund
|
$21,788,196
|
$14,011,377
|
$(17,924,427)
|
$(1,051)
|
$(714)
|
$17,873,381
|
17,884,112
|
$120,552
|
High Yield Bond Core Fund
|
$1,960,618
|
$99,150
|
$(1,000,000)
|
$37,776
|
$(171,178)
|
$926,366
|
177,465
|
$26,743
|
Mortgage Core Fund
|
$15,133,883
|
$4,385,463
|
$—
|
$(1,678,064)
|
$—
|
$17,841,282
|
2,189,114
|
$134,393
|
Project and Trade Finance Core Fund
|
$3,586,221
|
$47,477
|
$—
|
$24,958
|
$—
|
$3,658,656
|
421,990
|
$47,472
|
TOTAL OF AFFILIATED TRANSACTIONS
|
$51,733,813
|
$98,128,576
|
$(99,931,540)
|
$(1,601,574)
|
$(284,865)
|
$48,044,410
|
26,033,074
|
$359,670
|
*
|
All or a portion of the balance/activity for the fund relates to cash collateral received on securities lending transactions.
|
1
|
Non-income-producing security.
|
2
|
All or a portion of these securities are temporarily on loan to unaffiliated broker/dealers. As of October 31, 2022, securities
subject to this type of arrangement
and related collateral were as follows:
|
Market Value of
Securities Loaned
|
Collateral
Received
|
$4,772,629
|
$4,990,208
|
3
|
Floating/variable note with current rate and current maturity or next reset date shown.
|
4
|
Perpetual Bond Security. The maturity date reflects the next call date.
|
5
|
7-day net yield.
|
6
|
Assets, other than investments in securities, less liabilities.
|
Valuation Inputs
|
||||
|
Level 1—
Quoted
Prices
|
Level 2—
Other
Significant
Observable
Inputs
|
Level 3—
Significant
Unobservable
Inputs
|
Total
|
Equity Securities:
|
|
|
|
|
Common Stocks
|
|
|
|
|
Domestic
|
$90,197,349
|
$—
|
$—
|
$90,197,349
|
International
|
3,199,728
|
—
|
—
|
3,199,728
|
Debt Securities:
|
|
|
|
|
U.S. Treasuries
|
—
|
18,703,505
|
—
|
18,703,505
|
Corporate Bonds
|
—
|
17,197,772
|
—
|
17,197,772
|
Asset-Backed Securities
|
—
|
2,887,145
|
—
|
2,887,145
|
Collateralized Mortgage Obligations
|
—
|
903,710
|
—
|
903,710
|
Mortgage-Backed Securities
|
—
|
341,609
|
—
|
341,609
|
Commercial Mortgage-Backed Securities
|
—
|
336,225
|
—
|
336,225
|
Government Agencies
|
—
|
227,012
|
—
|
227,012
|
Municipal Bonds
|
—
|
29,538
|
—
|
29,538
|
Exchange-Traded Fund
|
9,875,115
|
—
|
—
|
9,875,115
|
Investment Companies1
|
44,385,754
|
—
|
—
|
48,044,410
|
TOTAL SECURITIES
|
$147,657,946
|
$40,626,516
|
$—
|
$191,943,118
|
Other Financial Instruments:2
|
|
|
|
|
Assets
|
$160,877
|
$—
|
$—
|
$160,877
|
Liabilities
|
(276,159)
|
—
|
—
|
(276,159)
|
TOTAL OTHER FINANCIAL INSTRUMENTS
|
$(115,282)
|
$—
|
$—
|
$(115,282)
|
1
|
As permitted by U.S. generally accepted accounting principles, an Investment Company valued at $3,658,656 is measured at fair
value using the NAV per share
practical expedient and has not been categorized in the chart above, but is included in the Total column. The price of shares
redeemed of Project and Trade
Finance Core Fund may be determined as of the closing NAV of the fund up to twenty-four days after receipt of a shareholder
redemption request.
|
2
|
Other financial instruments are futures contracts.
|
The following acronym(s) are used throughout this portfolio:
|
|
|
ETF
|
—Exchange-Traded Fund
|
|
GMTN
|
—Global Medium Term Note
|
|
LIBOR
|
—London Interbank Offered Rate
|
|
MTN
|
—Medium Term Note
|
|
REIT
|
—Real Estate Investment Trust
|
|
REMIC
|
—Real Estate Mortgage Investment Conduit
|