UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N‑CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number  811-21979

Nuveen Investment Trust V

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark J. Czarniecki

Vice President and Secretary

901 Marquette Avenue

Minneapolis, Minnesota 55402

(Name and address of agent for service)

Registrant’s telephone number, including area code:  (312) 917‑7700

Date of fiscal year end:  August 31

Date of reporting period:  February 28, 2026  

Item 1. Reports to Stockholders.

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Flexible Income Fund

Class A Shares/NWQAX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class A Shares of the Nuveen Flexible Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class A Shares	$50	0.96%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	869,571,352
Total number of portfolio holdings		185
Portfolio turnover (%)		18%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 35.8% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700608_SAR_0226 5278584  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Flexible Income Fund

Class C Shares/NWQCX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class C Shares of the Nuveen Flexible Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class C Shares	$88	1.71%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	869,571,352
Total number of portfolio holdings		185
Portfolio turnover (%)		18%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 35.8% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700707_SAR_0226 5278584  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Flexible Income Fund

Class R6 Shares/NQWFX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class R6 Shares of the Nuveen Flexible Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class R6 Shares	$34	0.65%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	869,571,352
Total number of portfolio holdings		185
Portfolio turnover (%)		18%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 35.8% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700798_SAR_0226 5278584  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Flexible Income Fund

Class I Shares/NWQIX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class I Shares of the Nuveen Flexible Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class I Shares	$37	0.71%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	869,571,352
Total number of portfolio holdings		185
Portfolio turnover (%)		18%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 35.8% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700806_SAR_0226 5278584  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Preferred Securities and Income Fund

Class A Shares/NPSAX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class A Shares of the Nuveen Preferred Securities and Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class A Shares	$51	0.99%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	6,053,644,774
Total number of portfolio holdings		230
Portfolio turnover (%)		8%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 84.0% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700103_SAR_0226 5278611  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Preferred Securities and Income Fund

Class C Shares/NPSCX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class C Shares of the Nuveen Preferred Securities and Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class C Shares	$89	1.74%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	6,053,644,774
Total number of portfolio holdings		230
Portfolio turnover (%)		8%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 84.0% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700301_SAR_0226 5278611  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Preferred Securities and Income Fund

Class R6 Shares/NPSFX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class R6 Shares of the Nuveen Preferred Securities and Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class R6 Shares	$34	0.67%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	6,053,644,774
Total number of portfolio holdings		230
Portfolio turnover (%)		8%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 84.0% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700814_SAR_0226 5278611  

2

    
Semi-Annual Shareholder Report     February 28, 2026  

Nuveen Preferred Securities and Income Fund

Class I Shares/NPSRX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class I Shares of the Nuveen Preferred Securities and Income Fund for the period of September 1, 2025 to February 28, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

 

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

	Cost of a  $10,000 investment	Costs paid as a percentage of $10,000 investment*
Class I Shares	$38	0.74%

* Annualized for period less than one year.

 

Fund Statistics (as of February 28, 2026)

Fund net assets	$	6,053,644,774
Total number of portfolio holdings		230
Portfolio turnover (%)		8%

1 continued>>

What did the Fund invest in? (as of February 28, 2026)

(1) Includes 84.0% of $1,000 Par Preferred and/or Contingent Capital Securities.

(2) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

 

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus  •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

 

670700400_SAR_0226 5278611  

2

Item 2. Code of Ethics.

Not applicable to this filing.

Item 3. Audit Committee Financial Expert.

Not applicable to this filing.

Item 4. Principal Accountant Fees and Services.

Not applicable to this filing.

Item 5. Audit Committee of Listed Registrants.

Not applicable to this registrant.

Item 6. Investments.

(a) Schedule of Investments is included as part of the financial statements filed under Item 7 of this Form N-CSR.

(b) Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

1

Portfolio

of

Investments

February

28,

2026

Credit

Income

See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

95.7%

ASSET-BACKED

SECURITIES

-

11.0%

–

$

1,000,000

(a)

Affirm

Asset

Securitization

Trust

2024-B,

Series

2024

B

7.350

%

09/15/29

$

1,004,976

1,000,000

(a)

Affirm

Master

Trust,

Series

2025

1A

7.180

02/15/33

1,013,285

625,000

(b)

AIMCO

CLO

18

Ltd,

Series

2022

18X,

(TSFR3M

+

2.850%),

Reg

S

7.175

07/20/37

627,377

375,000

(a),(b)

Ares

LXIII

CLO

Ltd,

Series

2022

63A,

(TSFR3M

+

6.000%)

9.672

10/15/38

357,596

1,000,000

(a)

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2024

2A

7.430

10/20/28

1,024,889

498,750

(a)

Cajun

Global

LLC,

Series

2025

2A

5.912

11/20/55

507,115

1,000,000

(a)

Cajun

Global

LLC,

Series

2025

2A

8.720

11/20/55

1,004,686

1,000,000

(a)

Centersquare

Issuer

LLC,

Series

2025

1A

5.900

03/26/55

979,630

2,840

(a),(c)

Chase

Auto

Owner

Trust

2025-2,

Series

2025

2A

0.000

02/25/33

450,310

500,000

(a),(b)

CIFC

Funding

2020-III

Ltd,

Series

2020

3A,

(TSFR3M

+

4.800%)

8.468

10/20/38

477,236

675,000

(a),(b)

CIFC

Funding

2022-II

Ltd,

Series

2022

2A,

(TSFR3M

+

4.750%)

8.418

04/19/35

661,141

500,000

(a),(b)

CIFC

Funding

Ltd,

Series

2025

7A,

(TSFR3M

+

4.750%)

8.452

01/22/39

493,788

1,000,000

(a)

Consolidated

Communications

LLC/Fidium

Fiber

Finance

Holdco

LLC,

Series

2025

1A

9.408

05/20/55

1,057,873

1,000,000

(a)

DataBank

Issuer,

Series

2026

1A

6.493

02/25/56

1,006,973

504,178

(a)

Elara

Hgv

Timeshare

Issuer

2025-A

LLC,

Series

2025

A

6.910

01/25/40

508,287

1,000,000

(a)

Flexential

Issuer

LLC,

Series

2025

1A

6.030

10/25/60

1,016,414

250,000

(a),(b)

Galaxy

32

CLO

Ltd,

Series

2023

32A,

(TSFR3M

+

5.850%)

9.523

01/20/39

251,224

500,000

(a),(b)

Goldentree

Loan

Management

US

Clo

11

Ltd,

Series

2021

11A,

(TSFR3M

+

7.762%)

8.563

10/20/34

467,702

1,015,000

(a),(b)

Gracie

Point

International

Funding

2025-1

LLC,

Series

2025

1A,

(SOFR30A

+

2.750%)

6.431

08/15/28

1,016,346

1,000,000

(a),(b)

Gracie

Point

International

Funding

2025-1

LLC,

Series

2025

1A,

(SOFR30A

+

4.500%)

8.181

08/15/28

999,632

500,000

(a)

Hertz

Vehicle

Financing

III

LLC,

Series

2025

6A

8.300

05/25/32

518,593

448,875

(a)

Hin

Timeshare

Trust,

Series

2025

B

7.580

05/15/45

456,298

673,313

(a)

Hin

Timeshare

Trust,

Series

2025

B

9.410

05/15/45

682,343

750,000

(a)

Hotwire

Funding

LLC,

Series

2024

1A

9.188

06/20/54

777,526

1,000,000

(a)

Lmdv

Issuer

Co

LLC,

Series

2025

1A

7.880

12/15/55

1,023,825

1,000,000

(a)

Lmrk

Issuer

Co

2

LLC,

Series

2025

1A

6.200

09/15/55

1,021,361

900,000

(a)

Lmrk

Issuer

Co

2

LLC,

Series

2025

1A

8.120

09/15/55

928,941

335,000

(a),(b),(d)

Magnetite

LV

Ltd,

Series

2026

55A,

(TSFR3M

+

5.000%)

0.000

04/15/39

335,838

500,000

(a)

MetroNet

Infrastructure

Issuer

LLC,

S

eries

2025

2A

7.830

08/20/55

516,341

1,000,000

(a)

MetroNet

Infrastructure

Issuer

LLC,

Series

2025

4A

7.112

12/20/55

1,020,507

1,525,000

(a),(c)

Mosaic

Solar

Loan

Trust

2019-2,

Series

2019

2A

0.000

09/20/40

401,990

1,000,000

(a),(b)

Neuberger

Berman

Loan

Advisers

CLO

34

Ltd,

Series

2019

34A,

(TSFR3M

+

5.000%)

8.668

07/20/39

988,560

1,000,000

(a),(b)

Neuberger

Berman

Loan

Advisers

CLO

40

Ltd,

Series

2021

40A,

(TSFR3M

+

2.800%)

6.471

10/16/37

1,003,558

650,000

(a),(b)

Neuberger

Berman

Loan

Advisers

CLO

40

Ltd,

Series

2021

40A,

(TSFR3M

+

5.150%)

8.821

10/16/37

643,804

500,000

(a),(b)

Neuberger

Berman

Loan

Advisers

CLO

47

Ltd,

Series

2022

47A,

(TSFR3M

+

2.800%)

7.005

04/16/35

501,375

1,000,000

(a),(b)

Neuberger

Berman

Loan

Advisers

CLO

48

Ltd,

Series

2022

48A,

(TSFR3M

+

2.700%)

7.018

04/25/36

1,001,200

525,000

(a)

NMEF

Funding

2026-A

LLC,

Series

2026

A

6.730

02/15/34

528,654

250,000

(a),(b),(d)

OCP

CLO

2024-31

Ltd,

Series

2026

31A,

(TSFR3M

+

4.950%)

8.870

04/20/39

251,224

1,000,000

(a),(b)

OHA

Loan

Funding

2013-1

Ltd,

Series

2013

1A,

(TSFR3M

+

3.300%)

6.971

04/23/37

1,001,446

1,500,000

(a)

OHS

Issuer

LLC,

Series

2026

1

8.350

02/25/61

1,502,924

1,000,000

(a)

OHS

Issuer

LLC,

Series

2026

1

6.000

02/25/61

1,001,967

500,000

(a)

Oportun

Issuance

Trust

2024-2,

Series

2024

2

10.470

02/09/32

513,127

1,000,000

(a)

Oportun

Issuance

Trust

2025-B,

Series

2025

B

9.400

05/09/33

1,012,004

1,000,000

(a)

QTS

Issuer

ABS

II

LLC,

Series

2026

1A

6.729

01/05/56

1,024,102

1,000,000

(a),(b)

REESE

PARK

CLO

LTD,

Series

2020

1A,

(TSFR3M

+

6.000%)

9.672

01/15/38

964,727

554,335

(a)

Sierra

Timeshare

2025-1

Receivables

Funding

LLC,

Series

2025

1A

6.860

01/21/42

565,792

750,000

(a),(b)

Thayer

Park

CLO

Ltd,

Series

2017

1A,

(TSFR3M

+

9.132%)

1.000

04/20/34

657,683

1,000,000

(a)

Uniti

Fiber

Abs

Issuer

LLC,

Series

2025

1A

9.018

04/20/55

1,054,990

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

2

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ASSET-BACKED

SECURITIES

(continued)

$

1,250,000

(a)

UNITK

2026-1A

A2,

Series

2026

1A

7.653

%

02/25/56

$

1,279,195

1,000,000

(a)

VB-S1

Issuer

LLC,

Series

2026

1A

6.843

03/15/56

1,023,882

1,000,000

(a)

Zayo

Issuer

LLC,

Series

2025

1A

8.659

03/20/55

1,052,181

TOTAL

ASSET-BACKED

SECURITIES

(Cost

$40,491,183)

40,182,438

SHARES

DESCRIPTION

VALUE

76580

COMMON

STOCKS

-

0.0%

76580

TELECOMMUNICATION

SERVICES

-

0.0%

4,163

(e)

Altice

France

Lux

3

76,491

TOTAL

TELECOMMUNICATION

SERVICES

76,491

TRANSPORTATION

-

0.0%

8,907

(c),(e)

Jack

Cooper

Enterprises

Inc

89

TOTAL

TRANSPORTATION

89

TOTAL

COMMON

STOCKS

(Cost

$70,505)

76,580

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

208353360

CORPORATE

BONDS

-

57.1%

(f)

208353360

AUTOMOBILES

&

COMPONENTS

-

1.6%

1,950,000

(a)

Dealer

Tire

LLC

/

DT

Issuer

LLC

8.000

02/01/28

1,930,520

730,000

(a)

Dornoch

Debt

Merger

Sub

Inc

6.625

10/15/29

659,464

575,000

(g),(h),(i)

General

Motors

Financial

Co

Inc

5.750

N/A

576,032

700,000

(g)

Goodyear

Tire

&

Rubber

Co/The

5.250

04/30/31

671,213

525,000

(a)

IHO

Verwaltungs

GmbH,

(cash

6.375%,

PIK

7.125%)

6.375

05/15/29

531,752

430,000

(a)

IHO

Verwaltungs

GmbH

8.000

11/15/32

458,688

200,000

(a),(g)

Nemak

SAB

de

CV

3.625

06/28/31

173,058

625,000

(a)

Phinia

Inc

6.625

10/15/32

648,853

300,000

(a)

ZF

North

America

Capital

Inc

7.500

03/24/31

309,184

TOTAL

AUTOMOBILES

&

COMPONENTS

5,958,764

BANKS

-

3.1%

375,000

(a),(h),(j)

Akbank

TAS

0.000

N/A

375,504

400,000

(h),(j)

Banco

Bilbao

Vizcaya

Argentaria

SA

9.375

N/A

445,596

500,000

(a),(j)

Banco

Davivienda

SA

8.125

07/02/35

515,500

400,000

(a)

Banco

do

Brasil

SA/Cayman

6.000

03/18/31

411,172

500,000

(a),(h),(j)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

6.625

N/A

496,332

600,000

(a),(j)

Bank

Hapoalim

BM,

Reg

S

3.255

01/21/32

591,895

500,000

(h),(j)

Barclays

PLC

8.000

N/A

533,153

400,000

(a),(j)

BBVA

Mexico

SA

Institucion

De

Banca

Multiple

Grupo

Financiero

BBVA

Mexico/TX

7.625

02/11/35

427,060

950,000

(a),(h),(j)

BNP

Paribas

SA

7.450

N/A

1,003,628

200,000

(a)

Caixa

Economica

Federal

5.625

05/13/30

203,730

1,000,000

(i)

Canadian

Imperial

Bank

of

Commerce

6.950

01/28/85

1,034,078

1,000,000

(a),(h),(j)

Credit

Agricole

SA

7.125

N/A

1,051,978

750,000

(g),(h),(j)

Lloyds

Banking

Group

PLC

6.750

N/A

777,187

400,000

(a),(j)

Mizrahi

Tefahot

Bank

Ltd,

Reg

S

5.837

04/15/36

410,440

300,000

(a),(h),(i)

NBK

Tier

1

Ltd

6.375

N/A

306,624

1,500,000

(a),(g),(h),(j)

Societe

Generale

SA

7.125

N/A

1,490,764

500,000

(a),(i)

Turkiye

Garanti

Bankasi

AS

8.125

01/03/35

521,516

500,000

(a),(i)

Turkiye

Is

Bankasi

AS

7.575

02/05/37

505,601

200,000

(a)

Yapi

ve

Kredi

Bankasi

AS

7.250

03/03/30

208,200

TOTAL

BANKS

11,309,958

CAPITAL

GOODS

-

3.1%

1,260,000

(a)

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

7.000

05/21/30

1,319,539

675,000

(a)

Alta

Equipment

Group

Inc

9.000

06/01/29

637,340

900,000

(a)

Camelot

Return

Merger

Sub

Inc

8.750

08/01/28

679,510

1,050,000

(a)

Columbus

McKinnon

Corp/NY

7.125

01/31/33

1,079,463

109,334

(a)

CP

Atlas

Buyer

Inc,

(cash

7.000%,

PIK

5.750%)

12.750

01/15/31

98,179

590,000

(a)

Goat

Holdco

LLC

6.750

02/01/32

609,702

375,000

(a)

Herc

Holdings

Inc

5.750

03/15/31

380,145

3

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CAPITAL

GOODS

(continued)

$

255,000

(a)

Herc

Holdings

Inc

7.000

%

06/15/30

$

267,219

500,000

(a)

IHS

Holding

Ltd

8.250

11/29/31

532,658

300,000

(a)

IRB

Infrastructure

Developers

Ltd

7.110

03/11/32

312,714

490,000

(a)

Lsf12

Helix

Parent

LLC

7.125

02/01/33

491,903

840,000

(a)

Masterbrand

Inc

7.000

07/15/32

845,404

680,000

(a)

New

Flyer

Holdings

Inc

9.250

07/01/30

734,006

400,000

(a)

Quikrete

Holdings

Inc

6.375

03/01/32

415,719

475,000

(a)

Standard

Building

Solutions

Inc

6.500

08/15/32

488,935

400,000

(a)

Terex

Corp

6.250

10/15/32

411,947

300,000

(a)

TransDigm

Inc

6.875

12/15/30

312,226

500,000

(a)

TransDigm

Inc

6.000

01/15/33

508,844

450,000

(a)

TransDigm

Inc

6.375

05/31/33

459,285

675,000

(a)

TransDigm

Inc

6.125

07/31/34

685,622

TOTAL

CAPITAL

GOODS

11,270,360

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1.4%

635,000

(a)

Allied

Universal

Holdco

LLC

7.875

02/15/31

670,883

600,000

(a)

Bidvest

Group

UK

PLC/The

6.200

09/17/32

613,188

415,000

(a)

CACI

International

Inc

6.375

06/15/33

427,239

300,000

(a)

Garda

World

Security

Corp

8.250

08/01/32

306,641

750,000

(a)

Garda

World

Security

Corp

8.375

11/15/32

768,147

640,000

(a)

GFL

Environmental

Holdings

US

Inc

5.500

02/01/34

642,302

655,000

(a)

Neptune

Bidco

US

Inc

9.290

04/15/29

656,284

1,020,000

(a)

RR

Donnelley

&

Sons

Co

9.500

08/01/29

1,051,038

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

5,135,722

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

2.0%

900,000

(a)

Cougar

JV

Subsidiary

LLC

8.000

05/15/32

958,542

240,000

(a)

Gee

Automotive

Holdings

LLC

7.250

03/01/31

243,949

100,000

Kohl's

Corp

5.125

05/01/31

84,631

600,000

(a)

Kohl's

Corp

10.000

06/01/30

653,173

750,000

(a),(g)

LBM

Acquisition

LLC

6.250

01/15/29

571,817

680,000

(a)

Michaels

Cos

Inc/The

7.875

05/01/29

683,061

495,000

(a),(d)

Michaels

Cos

Inc/The

11.000

03/15/34

462,658

490,000

(a),(d)

Michaels

Cos

Inc/The

8.500

03/15/33

476,625

480,000

Nordstrom

Inc

4.250

08/01/31

447,285

325,000

(a)

Park

River

Holdings

Inc

8.000

03/15/31

327,084

625,000

(a)

PetSmart

Inc

/

PetSmart

Finance

Corp

10.000

09/15/33

626,782

525,000

(a)

QXO

Building

Products

Inc

6.750

04/30/32

543,751

1,200,000

(a)

Veritiv

Operating

Co

10.500

11/30/30

1,283,964

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

7,363,322

CONSUMER

DURABLES

&

APPAREL

-

0.7%

948,643

(a)

Beach

Acquisition

Bidco

LLC,

(cash

10.00%,

PIK

10.750%)

10.000

07/15/33

1,048,253

380,000

(a)

CD&R

Smokey

Buyer

Inc

/

Radio

Systems

Corp

9.500

10/15/29

311,911

225,000

(a)

Installed

Building

Products

Inc

5.625

02/01/34

227,986

180,000

Newell

Brands

Inc

7.000

04/01/46

160,237

400,000

(a)

Newell

Brands

Inc

8.500

06/01/28

421,041

300,000

(a)

S&S

Holdings

LLC

8.375

10/01/31

281,164

TOTAL

CONSUMER

DURABLES

&

APPAREL

2,450,592

CONSUMER

SERVICES

-

2.4%

300,000

(a)

Caesars

Entertainment

Inc

7.000

02/15/30

307,572

435,000

(a)

Carnival

Corp

5.750

08/01/32

451,443

500,000

(a)

Churchill

Downs

Inc

5.750

04/01/30

504,001

200,000

Fortune

Star

BVI

Ltd,

Reg

S

8.500

05/19/28

206,680

600,000

Fortune

Star

BVI

Ltd,

Reg

S

6.800

09/09/29

594,634

600,000

(a)

Life

Time

Inc

6.000

11/15/31

618,005

595,000

(a)

Marriott

Ownership

Resorts

Inc

6.500

10/01/33

576,932

200,000

(a)

Merlin

Entertainments

Group

US

Holdings

Inc

7.375

02/15/31

165,009

300,000

MGM

Resorts

International

6.125

09/15/29

308,335

400,000

(a),(g)

Motion

Bondco

DAC

6.625

11/15/27

377,576

600,000

(a)

NCL

Corp

Ltd

6.750

02/01/32

617,901

345,000

(a)

NCL

Corp

Ltd

5.875

01/15/31

348,633

180,000

Six

Flags

Entertainment

Corp

7.250

05/15/31

176,667

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

4

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONSUMER

SERVICES

(continued)

$

765,000

Six

Flags

Entertainment

Corp

/

Canada's

Wonderland

Co

/

Magnum

Management

Corp

6.500

%

10/01/28

$

765,637

150,000

(a)

SIX

FLAGS/CAN

WON/MILLEN

8.625

01/15/32

151,874

300,000

(a)

Studio

City

Finance

Ltd

5.000

01/15/29

290,053

525,000

(a)

Travel

+

Leisure

Co

6.125

09/01/33

533,645

500,000

(a)

Viking

Ocean

Cruises

Ship

VII

Ltd

5.625

02/15/29

499,590

500,000

(a)

Voyager

Parent

LLC

9.250

07/01/32

533,910

300,000

(a)

Wynn

Macau

Ltd

5.625

08/26/28

299,577

410,000

(a)

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

6.250

03/15/33

418,708

TOTAL

CONSUMER

SERVICES

8,746,382

ENERGY

-

8.4%

565,000

(a)

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.750

10/15/33

573,560

400,000

(a)

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.625

09/01/32

416,257

595,000

(a)

ARCHROCK

SERVICES/PARTNE

6.000

02/01/34

602,428

600,000

(a)

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

6.625

07/15/33

622,612

500,000

(a)

Azule

Energy

Finance

Plc

8.125

01/23/30

507,120

500,000

(a)

Azule

Energy

Finance

Plc

8.625

01/22/33

502,903

272,026

(a)

Borr

IHC

Ltd

/

Borr

Finance

LLC

10.000

11/15/28

283,333

830,000

(a)

Bristow

Group

Inc

6.750

02/01/33

842,181

300,000

Buckeye

Partners

LP

5.850

11/15/43

282,656

560,000

(a)

Chord

Energy

Corp

6.000

10/01/30

572,040

300,000

(a)

Chord

Energy

Corp

6.750

03/15/33

311,578

500,000

(a)

CITGO

Petroleum

Corp

8.375

01/15/29

518,484

1,000,000

(a)

CNX

Resources

Corp

7.250

03/01/32

1,048,595

935,000

(a)

CNX

Resources

Corp

5.875

03/01/34

936,710

670,000

(a)

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

5.500

06/15/31

668,174

465,000

(a)

CVR

Energy

Inc

7.500

02/15/31

463,424

162,000

(a)

CVR

Energy

Inc

5.750

02/15/28

161,709

655,000

(a)

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp

7.375

06/30/33

677,468

520,000

(a)

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp

8.625

03/15/29

542,961

875,000

(i)

Enbridge

Inc

8.500

01/15/84

1,009,854

600,000

(h),(i)

Energy

Transfer

LP

7.125

N/A

622,408

1,150,000

(a)

Global

Partners

LP

/

GLP

Finance

Corp

8.250

01/15/32

1,214,952

398,701

(a)

Gran

Tierra

Energy

Inc

9.750

04/15/31

320,954

590,000

(a)

Harvest

Midstream

I

LP

7.500

05/15/32

612,410

300,000

(a)

Indika

Energy

Tbk

PT

8.750

05/07/29

298,687

800,000

(a)

ITT

Holdings

LLC

6.500

08/01/29

777,201

665,000

(a)

Kodiak

Gas

Services

LLC

6.500

10/01/33

685,762

300,000

(a)

Kosmos

Energy

Ltd

7.750

05/01/27

294,750

270,000

(a)

Matador

Resources

Co

6.000

04/15/34

269,674

310,000

(a)

Matador

Resources

Co

6.250

04/15/33

315,500

500,000

(a)

Moss

Creek

Resources

Holdings

Inc

8.250

09/01/31

492,723

795,000

(a)

Noble

Finance

II

LLC

8.000

04/15/30

827,452

350,000

PBF

Holding

Co

LLC

/

PBF

Finance

Corp

6.000

02/15/28

348,539

300,000

Petrobras

Global

Finance

BV

6.250

01/10/36

304,170

600,000

(a)

Raizen

Fuels

Finance

SA

6.700

02/25/37

269,250

245,000

(a)

Rockies

Express

Pipeline

LLC

6.750

03/15/33

258,089

325,000

(a)

SIERRACOL

EN

AND/ARA/DEV

9.000

11/14/30

330,281

480,000

(a)

SM

Energy

Co

8.625

11/01/30

508,007

1,010,000

(i)

South

Bow

Canadian

Infrastructure

Holdings

Ltd

7.625

03/01/55

1,052,477

750,000

(a)

Sunoco

LP

6.250

07/01/33

772,444

1,070,000

(a),(h),(i)

Sunoco

LP

7.875

N/A

1,106,112

500,000

(a)

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp

6.000

09/01/31

505,315

200,000

(a)

TransMontaigne

Partners

LLC

8.500

06/15/30

208,997

267,538

(a)

Transocean

Aquila

Ltd

8.000

09/30/28

274,494

230,000

(a)

Transocean

International

Ltd

7.875

10/15/32

246,954

600,000

(a)

Transportadora

de

Gas

del

Sur

SA

7.750

11/20/35

607,251

600,000

(a)

Venture

Global

Calcasieu

Pass

LLC

3.875

11/01/33

534,011

800,000

(a),(h),(i)

Venture

Global

LNG

Inc

9.000

N/A

699,661

500,000

(a)

Venture

Global

LNG

Inc

8.375

06/01/31

512,019

500,000

(a)

Venture

Global

LNG

Inc

9.875

02/01/32

529,720

5

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ENERGY

(continued)

$

400,000

(a)

Venture

Global

Plaquemines

LNG

LLC

6.500

%

06/15/34

$

419,984

270,000

(a)

Venture

Global

Plaquemines

LNG

LLC

6.125

12/15/30

280,478

1,000,000

(a)

Venture

Global

Plaquemines

LNG

LLC

6.750

01/15/36

1,065,211

410,000

(a)

Venture

Global

Plaquemines

LNG

LLC

6.500

01/15/34

431,492

370,000

(a)

Weatherford

International

Ltd

6.750

10/15/33

386,829

200,000

(a)

YPF

SA

8.750

09/11/31

208,167

500,000

(a)

YPF

SA

8.250

01/17/34

513,032

TOTAL

ENERGY

30,649,504

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2.2%

895,000

(a)

Diversified

Healthcare

Trust

7.250

10/15/30

930,698

1,005,000

(a)

Iron

Mountain

Inc

6.250

01/15/33

1,026,917

695,000

(a)

Millrose

Properties

Inc

6.375

08/01/30

713,001

850,000

(a)

Millrose

Properties

Inc

6.250

09/15/32

860,662

1,078,000

(g)

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

5.000

10/15/27

1,056,228

800,000

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

3.500

03/15/31

611,792

720,000

(a)

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

8.500

02/15/32

770,600

600,000

(a)

Office

Properties

Income

Trust

9.000

03/31/29

609,774

300,000

(a)

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

6.500

04/01/32

310,433

180,000

(a)

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

6.500

06/15/33

186,982

315,000

(a),(d)

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

5.750

03/15/34

317,298

605,000

(a)

Uniti

Group

LP

/

Uniti

Group

Finance

2019

Inc

/

CSL

Capital

LLC

6.500

02/15/29

588,412

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

7,982,797

FINANCIAL

SERVICES

-

5.6%

350,000

(i)

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

6.950

03/10/55

369,906

600,000

(a)

Azorra

Finance

Ltd

7.750

04/15/30

630,166

570,000

(a)

Azorra

Finance

Ltd

7.250

01/15/31

594,905

200,000

(a)

Banco

BTG

Pactual

SA/Cayman

Islands

5.500

01/27/31

199,990

900,000

(a)

Burford

Capital

Global

Finance

LLC

6.250

04/15/28

894,940

295,000

(a)

Burford

Capital

Global

Finance

LLC

8.500

01/15/34

289,155

1,012,842

(a)

Compass

Group

Diversified

Holdings

LLC

5.250

04/15/29

948,070

300,000

(a),(g)

DAE

Funding

LLC

4.950

01/15/33

298,216

600,000

(h),(j)

Deutsche

Bank

AG,

Reg

S

8.130

N/A

644,274

EUR

600,000

(h),(j)

Deutsche

Bank

AG,

Reg

S

7.125

N/A

752,369

1,335,000

(a)

Encore

Capital

Group

Inc

6.625

04/15/31

1,355,559

1,071,000

(i)

HA

Sustainable

Infrastructure

Capital

Inc

8.000

06/01/56

1,128,159

1,826,000

(i)

HA

Sustainable

Infrastructure

Capital

Inc

7.125

11/15/56

1,825,498

75,000

(a)

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.375

06/15/26

74,711

640,000

(a)

Hunt

Cos

Inc

5.250

04/15/29

610,440

450,000

(a)

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

10.000

11/15/29

444,348

200,000

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.375

02/01/29

170,464

1,180,000

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

5.250

05/15/27

1,162,241

100,000

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

9.000

06/15/30

95,122

500,000

(a)

Ittihad

International

II

Ltd

7.375

11/13/30

516,191

665,000

(a)

Jane

Street

Group

/

JSG

Finance

Inc

6.125

11/01/32

668,971

500,000

(a)

Muthoot

Finance

Ltd

5.750

08/04/30

499,765

255,000

OneMain

Finance

Corp

6.125

05/15/30

255,761

640,000

OneMain

Finance

Corp

5.375

11/15/29

632,742

475,000

OneMain

Finance

Corp

6.500

03/15/33

470,673

350,000

(a)

Osaic

Holdings

Inc

6.750

08/01/32

353,192

505,000

(a)

PennyMac

Financial

Services

Inc

6.875

05/15/32

507,889

300,000

(a)

Sammaan

Capital

Ltd

8.950

08/28/28

311,893

430,000

(a)

Starwood

Property

Trust

Inc

6.500

10/15/30

448,128

315,000

(a)

Starwood

Property

Trust

Inc

6.000

04/15/30

322,298

1,690,000

(a)

Stonex

Escrow

Issuer

LLC

6.875

07/15/32

1,753,765

1,000,000

(a),(h),(j)

UBS

Group

AG

9.250

N/A

1,169,493

185,000

(a)

WEX

Inc

6.500

03/15/33

185,932

TOTAL

FINANCIAL

SERVICES

20,585,226

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

6

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FOOD,

BEVERAGE

&

TOBACCO

-

0.8%

$

615,000

(a)

Arcor

SAIC

7.600

%

07/31/33

$

634,003

400,000

(a)

Grupo

Nutresa

SA

8.000

05/12/30

430,900

400,000

(a)

MARB

BondCo

PLC

3.950

01/29/31

364,610

300,000

(a)

Minerva

Luxembourg

SA

8.875

09/13/33

328,269

600,000

(a)

Post

Holdings

Inc

6.375

03/01/33

610,729

600,000

(a)

Viking

Baked

Goods

Acquisition

Corp

8.625

11/01/31

607,379

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

2,975,890

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

2.5%

564,000

(a)

CHS/Community

Health

Systems

Inc

10.875

01/15/32

611,221

450,000

(a)

DaVita

Inc

4.625

06/01/30

440,517

555,000

(a)

DaVita

Inc

6.875

09/01/32

576,693

800,000

(i)

DENTSPLY

SIRONA

Inc

8.375

09/12/55

799,269

520,000

(a),(g)

Embecta

Corp

5.000

02/15/30

488,745

995,000

(a)

Global

Medical

Response

Inc

7.375

10/01/32

1,041,646

100,000

(a)

LifePoint

Health

Inc

8.375

02/15/32

108,264

290,000

(a)

Molina

Healthcare

Inc

6.500

02/15/31

290,926

750,000

(a)

Molina

Healthcare

Inc

6.250

01/15/33

737,787

500,000

(a)

Molina

Healthcare

Inc

3.875

11/15/30

455,464

500,000

(a)

National

Mentor

Holdings

Inc

10.500

12/15/30

498,156

595,000

(a)

Prime

Healthcare

Services

Inc

9.375

09/01/29

621,497

252,426

(a)

Radiology

Partners

Inc,

(cash

9.781%,

PIK

9.781%)

9.781

02/15/30

236,018

895,000

(a)

Radiology

Partners

Inc

8.500

07/15/32

921,564

615,000

(a)

Team

Health

Holdings

Inc

8.375

06/30/28

619,082

225,000

(a)

Tenet

Healthcare

Corp

6.000

11/15/33

232,522

600,000

(a)

US

Acute

Care

Solutions

LLC

9.750

05/15/29

600,187

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

9,279,558

INSURANCE

-

3.6%

610,000

(a)

Acrisure

LLC

/

Acrisure

Finance

Inc

6.750

07/01/32

598,256

800,000

(a)

Acrisure

LLC

/

Acrisure

Finance

Inc

7.500

11/06/30

814,125

850,000

(a)

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

6.500

10/01/31

854,665

300,000

(a)

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

6.750

04/15/28

303,452

1,615,000

(a)

APH

Somerset

Investor

2

LLC

/

APH2

Somerset

Investor

2

LLC

/

APH3

Somerset

Inves

7.875

11/01/29

1,564,644

960,000

(a)

Ardonagh

Finco

Ltd

7.750

02/15/31

982,997

450,000

(a)

Ardonagh

Group

Finance

Ltd

8.875

02/15/32

444,137

635,000

(a)

ASURION

LLC/ASURION

CO

8.000

12/31/32

666,946

1,600,000

(a)

ASURION

LLC/ASURION

CO

8.375

02/01/34

1,592,267

417,000

(a),(b)

Bonanza

RE

Ltd

(3-Month

U.S.

Treasury

Bill

+

–%)

3.607

01/08/27

350,655

500,000

(i)

Enstar

Finance

LLC

5.500

01/15/42

496,518

485,000

(a),(i)

Enstar

Group

Ltd

7.500

04/01/45

505,235

450,000

(a)

HUB

International

Ltd

7.375

01/31/32

458,021

595,000

(a)

HUB

International

Ltd

5.625

12/01/29

585,758

415,000

(a),(b)

Integrity

RE

III

Ltd

(

+

2.500%)

6.010

06/07/29

415,000

250,000

(a),(b)

MEADOWS

LTD

(3-Month

U.S.

Treasury

Bill

+

7.500%)

11.362

12/07/29

248,550

900,000

(a)

Panther

Escrow

Issuer

LLC

7.125

06/01/31

915,611

500,000

(a),(b)

Residential

Reinsurance

2025

Ltd

(3-Month

U.S.

Treasury

Bill

+

5.750%)

4.783

06/06/29

516,100

1,000,000

(a),(h),(i)

SBL

Holdings

Inc

9.508

N/A

994,643

TOTAL

INSURANCE

13,307,580

MATERIALS

-

3.1%

1,135,000

(a)

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

6.250

01/30/31

1,161,688

200,000

(a)

Braskem

Netherlands

Finance

BV

4.500

01/10/28

90,387

600,000

Celanese

US

Holdings

LLC

7.050

11/15/30

639,717

200,000

(a),(h),(i)

Cemex

SAB

de

CV

7.200

N/A

210,600

400,000

(a)

Cleveland-Cliffs

Inc

6.875

11/01/29

412,006

435,000

(a)

Clydesdale

Acquisition

Holdings

Inc

6.625

04/15/29

439,491

875,000

(a)

Clydesdale

Acquisition

Holdings

Inc

8.750

04/15/30

871,143

500,000

(a)

Compass

Minerals

International

Inc

8.000

07/01/30

527,525

330,000

(a)

Crown

Americas

LLC

5.875

06/01/33

339,051

510,000

(a)

First

Quantum

Minerals

Ltd

6.375

02/15/36

511,595

250,000

(g)

Huntsman

International

LLC

5.700

10/15/34

239,144

7

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MATERIALS

(continued)

$

400,000

(a)

LD

Celulose

International

GmbH

7.950

%

01/26/32

$

422,264

500,000

(a)

Limak

Cimento

Sanayi

ve

Ticaret

AS

9.750

07/25/29

512,416

420,000

(a)

Methanex

US

Operations

Inc

6.250

03/15/32

434,701

370,000

(a)

Mineral

Resources

Ltd

7.000

04/01/31

389,145

200,000

(a)

Mineral

Resources

Ltd

8.000

11/01/27

204,393

730,000

(a)

OCP

SA

6.700

03/01/36

787,122

360,000

(a)

Olin

Corp

6.625

04/01/33

351,530

375,000

(a)

Olympus

Water

US

Holding

Corp

6.750

08/01/32

369,154

370,000

(a)

Qnity

Electronics

Inc

6.250

08/15/33

384,171

200,000

(a)

Sasol

Financing

USA

LLC

8.750

05/03/29

204,989

200,000

UPL

Corp

Ltd,

Reg

S

4.625

06/16/30

189,669

500,000

(a)

Volcan

Cia

Minera

SAA

8.500

10/28/32

522,855

400,000

(a)

WR

Grace

Holdings

LLC

5.625

08/15/29

383,175

600,000

(a)

WR

Grace

Holdings

LLC

6.625

08/15/32

606,976

TOTAL

MATERIALS

11,204,907

MEDIA

&

ENTERTAINMENT

-

2.8%

475,000

(a)

Advantage

Sales

&

Marketing

Inc

6.500

11/15/28

389,500

600,000

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp,

Reg

S

4.250

02/01/31

559,260

250,000

(a)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.500

08/15/30

238,457

260,000

(a),(g)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.750

02/01/32

241,781

475,000

(a)

Clear

Channel

Outdoor

Holdings

Inc

7.750

04/15/28

478,770

250,000

(a)

Directv

Financing

LLC

8.875

02/01/30

250,288

660,000

(a)

Directv

Financing

LLC

8.875

02/01/30

660,227

246,000

(a)

Directv

Financing

LLC

/

Directv

Financing

Co-Obligor

Inc

5.875

08/15/27

246,286

500,000

Discovery

Global

Holdings

Inc

4.279

03/15/32

459,375

500,000

Discovery

Global

Holdings

Inc

4.054

03/15/29

494,685

250,000

DISH

DBS

Corp

5.125

06/01/29

223,258

400,000

(a)

Gray

Media

Inc

7.250

08/15/33

413,041

500,000

Grupo

Televisa

SAB

5.250

05/24/49

344,921

310,000

(a)

iHeartCommunications

Inc

4.750

01/15/28

277,320

145,000

(a)

LCPR

Senior

Secured

Financing

DAC

6.750

10/15/27

101,558

730,000

(a)

McGraw-Hill

Education

Inc

7.375

09/01/31

745,945

410,000

(a)

Neptune

Bidco

US

Inc

10.375

05/15/31

413,815

200,000

(a)

Neptune

Bidco

US

Inc

9.500

02/15/33

195,758

420,000

(a)

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

4.250

01/15/29

412,100

500,000

(a),(g)

Scripps

Escrow

II

Inc

3.875

01/15/29

471,644

600,000

(a)

Sirius

XM

Radio

LLC

4.125

07/01/30

565,548

780,000

(a)

Univision

Communications

Inc

7.375

06/30/30

780,015

500,000

(a)

Univision

Communications

Inc

8.000

08/15/28

513,601

200,000

(a)

Univision

Communications

Inc

8.500

07/31/31

204,681

325,000

(a)

Univision

Communications

Inc

9.375

08/01/32

343,904

TOTAL

MEDIA

&

ENTERTAINMENT

10,025,738

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

1.9%

1,300,000

(a)

1261229

BC

Ltd

10.000

04/15/32

1,344,372

1,530,000

(a),(g)

Bausch

Health

Americas

Inc

8.500

01/31/27

1,516,234

300,000

(a)

Bausch

Health

Cos

Inc

5.250

02/15/31

195,750

300,000

(a)

Bausch

Health

Cos

Inc

4.875

06/01/28

279,189

325,000

(a)

Bausch

Health

Cos

Inc

11.000

09/30/28

339,823

300,000

(a)

Charles

River

Laboratories

International

Inc

4.000

03/15/31

283,246

750,000

(a),(g)

Emergent

BioSolutions

Inc

3.875

08/15/28

655,781

855,000

(a)

GENMAB

A/S/GENMAB

FIN

7.250

12/15/33

907,271

500,000

(a)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

7.875

05/15/34

465,981

300,000

(a)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

4.125

04/30/28

294,500

550,000

(a)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

5.125

04/30/31

488,733

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

6,770,880

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0.8%

1,084,000

(a)

Anywhere

Real

Estate

Group

LLC

/

Anywhere

Co-Issuer

Corp

7.000

04/15/30

1,095,755

600,000

Arabian

Centres

Sukuk

IV

Ltd,

Reg

S

8.875

12/04/30

627,023

375,000

Kennedy-Wilson

Inc

4.750

03/01/29

369,498

535,000

(g)

Kennedy-Wilson

Inc

5.000

03/01/31

518,613

200,000

(a)

Permian

Resources

Operating

LLC

6.250

02/01/33

207,096

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

8

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

(continued)

$

186,660

(a)

Sorik

Marapi

Geothermal

Power

PT

7.750

%

08/05/31

$

191,728

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

3,009,713

SOFTWARE

&

SERVICES

-

0.8%

605,000

(a)

Amentum

Holdings

Inc

7.250

08/01/32

633,940

900,000

(a)

Cloud

Software

Group

Inc

8.250

06/30/32

900,754

600,000

(a)

Cloud

Software

Group

Inc

6.500

03/31/29

588,406

250,000

(a)

Gen

Digital

Inc

6.250

04/01/33

248,798

150,000

(a)

McAfee

Corp

7.375

02/15/30

122,729

250,000

(a)

Open

Text

Holdings

Inc

4.125

12/01/31

218,374

300,000

X.AI

LLC

/

X.AI

Co

Issuer

Corp

12.500

06/30/30

341,674

TOTAL

SOFTWARE

&

SERVICES

3,054,675

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.1%

220,000

(a)

Imola

Merger

Corp

4.750

05/15/29

216,272

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

216,272

TELECOMMUNICATION

SERVICES

-

4.6%

304,878

(a)

Altice

France

Lux

3

/

Altice

Holdings

1

9.500

11/01/29

309,558

500,000

(a)

Altice

France

Lux

3

/

Altice

Holdings

1

10.000

01/15/33

469,857

1,190,183

(a)

Altice

France

SA

6.500

04/15/32

1,139,845

400,000

(a)

APLD

COMPUTECO

LLC

9.250

12/15/30

419,837

315,000

(a)

Black

Pearl

Compute

LLC

6.125

02/15/31

322,387

660,000

(a)

Cipher

Compute

LLC

7.125

11/15/30

687,947

1,700,000

(a)

Connect

Holding

II

LLC

10.500

04/03/31

1,643,963

480,000

(a)

Level

3

Financing

Inc

6.875

06/30/33

497,124

665,000

(a)

Level

3

Financing

Inc

7.000

03/31/34

691,297

970,000

(a)

Level

3

Financing

Inc

8.500

01/15/36

1,009,963

450,000

(a)

Lumen

Technologies

Inc

4.500

01/15/29

428,362

968,000

(i)

Rogers

Communications

Inc

7.125

04/15/55

1,025,181

290,000

(a)

SV

RNO

Property

Owner

1

LLC

5.875

03/01/31

291,299

1,216,000

(a)

Telesat

Canada

/

Telesat

LLC

5.625

12/06/26

954,619

800,000

(a)

Uniti

Group

LP

/

Uniti

Group

Finance

2019

Inc

/

CSL

Capital

LLC

8.625

06/15/32

811,366

700,000

(a)

Virgin

Media

Secured

Finance

PLC

4.500

08/15/30

638,090

320,000

(a)

Windstream

Services

LLC

7.500

10/15/33

332,938

835,000

(a)

Windstream

Services

LLC

/

Windstream

Escrow

Finance

Corp

8.250

10/01/31

879,117

775,000

(a)

WULF

COMPUTE

LLC

7.750

10/15/30

820,736

2,701,743

(a)

Zayo

Group

Holdings

Inc

9.250

03/09/30

2,634,152

693,137

(a)

Zayo

Group

Holdings

Inc

13.750

09/09/30

627,289

TOTAL

TELECOMMUNICATION

SERVICES

16,634,927

TRANSPORTATION

-

0.9%

231,000

(a)

Allegiant

Travel

Co

7.250

08/15/27

233,143

500,000

(a)

Corp

Quiport

SA

9.000

12/15/37

546,248

100,000

(a)

Genesee

&

Wyoming

Inc

6.250

04/15/32

103,074

600,000

(a),(g)

Grupo

Aeromexico

SAB

de

CV

8.625

11/15/31

615,750

600,000

(a)

Montego

Bay

Airport

Revenue

Finance

Ltd

6.600

06/15/35

602,700

400,000

(a)

Stonepeak

Nile

Parent

LLC

7.250

03/15/32

424,489

350,000

United

Airlines

Holdings

Inc

5.375

03/01/31

356,846

476,000

(a)

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding

Inc

9.500

06/01/28

490,950

TOTAL

TRANSPORTATION

3,373,200

UTILITIES

-

4.7%

1,250,000

(i)

AES

Corp/The

6.950

07/15/55

1,208,135

655,000

(a)

Alpha

Generation

LLC

6.250

01/15/34

665,157

794,000

(a),(i)

AltaGas

Ltd

7.200

10/15/54

829,581

835,000

(a)

California

Buyer

Ltd

/

Atlantica

Sustainable

Infrastructure

PLC

6.375

02/15/32

832,543

500,000

(a)

Clearway

Energy

Operating

LLC

5.750

01/15/34

506,589

188,150

(a)

Continuum

Green

Energy

India

Pvt

/

Co-Issuers

7.500

06/26/33

195,837

1,200,000

(a)

ContourGlobal

Power

Holdings

SA

6.750

02/28/30

1,236,000

225,000

(a)

Energuate

Trust

2

0

6.350

09/15/35

229,282

250,000

(i)

EUSHI

Finance

Inc

7.625

12/15/54

263,921

1,020,000

(a)

Ferrellgas

LP

/

Ferrellgas

Finance

Corp

5.875

04/01/29

986,041

200,000

(a)

Greenko

Wind

Projects

Mauritius

Ltd

7.250

09/27/28

204,059

305,000

(a),(h),(i)

NRG

Energy

Inc

10.250

N/A

335,779

9

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

280,000

(a)

NRG

Energy

Inc

6.000

%

02/01/33

$

286,780

290,000

(a)

NRG

Energy

Inc

6.250

11/01/34

299,909

200,000

(a)

Pampa

Energia

SA

7.950

09/10/31

207,302

200,000

(a)

Pampa

Energia

SA

7.875

12/16/34

204,800

300,000

(a)

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations

Inc

4.500

08/15/28

296,524

875,000

(i)

PG&E

Corp

7.375

03/15/55

905,190

800,000

(a)

Saavi

Energia

Sarl

8.875

02/10/35

883,200

855,000

(a)

Talen

Energy

Supply

LLC

6.250

02/01/34

870,043

750,000

(a)

Talen

Energy

Supply

LLC

6.500

02/01/36

771,126

605,000

(a)

TerraForm

Power

Operating

LLC

4.750

01/15/30

591,467

500,000

(a)

Trinidad

Generation

UnLtd

7.750

06/16/33

525,850

730,000

(a),(h),(i)

Vistra

Corp

8.875

N/A

804,073

670,000

(a)

VoltaGrid

LLC

7.375

11/01/30

699,608

1,200,000

(a)

XPLR

Infrastructure

Operating

Partners

LP

7.250

01/15/29

1,245,541

590,000

(a)

XPLR

Infrastructure

Operating

Partners

LP

8.625

03/15/33

624,511

340,000

(a)

XPLR

Infrastructure

Operating

Partners

LP

4.500

09/15/27

338,545

TOTAL

UTILITIES

17,047,393

TOTAL

CORPORATE

BONDS

(Cost

$205,807,228)

208,353,360

SHARES

DESCRIPTION

VALUE

5,008,000

EXCHANGE-TRADED

FUNDS

-

1.4%

5,008,000

200,000

(k)

Nuveen

High

Yield

Corporate

Bond

ETF

5,008,000

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost

$5,182,873)

5,008,000

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

-

7.7%

–

1,000,000

(a),(b)

ARDN

2025-ARCP

Mortgage

Trust,

Series

2025

ARCP,

(TSFR1M

+

4.500%)

8.160

06/15/35

1,001,845

1,500,000

(b)

Benchmark

2019-B14

Mortgage

Trust,

Series

2019

B14

3.778

12/15/62

1,081,522

856,656

(a),(b)

BLP

Commercial

Mortgage

Trust

2024-IND2,

Series

2024

IND2,

(TSFR1M

+

3.689%)

8.011

03/15/41

854,527

2,000,000

(a),(b)

BX

Commercial

Mortgage

Trust

2024-BRBK,

Series

2024

BRBK,

(TSFR1M

+

5.971%)

9.705

10/15/41

2,006,306

725,000

(a),(b)

BX

Trust,

Series

2025

DELC,

(TSFR1M

+

3.050%)

6.710

12/15/42

728,100

1,000,000

(a),(b)

CIP

Commercial

Mortgage

Trust

2025-SBAY,

Series

2025

SBAY,

(TSFR1M

+

3.750%)

7.850

10/15/37

1,004,768

1,000,000

(a),(b)

COMM

2014-UBS3

Mortgage

Trust,

Series

2014

UBS3

4.767

06/10/47

524,979

900,000

(a)

COMM

2015-CCRE22

Mortgage

Trust,

Series

2015

CR22

3.000

03/10/48

531,288

322,364

(b)

COMM

2015-CCRE25

Mortgage

Trust,

Series

2015

CR25

3.768

08/10/48

315,313

1,500,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R01,

Series

2022

R01,

(SOFR30A

+

6.000%)

9.667

12/25/41

1,552,698

1,500,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R02,

Series

2022

R02,

(SOFR30A

+

7.650%)

12.972

01/25/42

1,573,203

2,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R06,

Series

2022

R06,

(SOFR30A

+

10.600%)

15.334

05/25/42

2,211,636

565,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R06,

Series

2023

R06,

(SOFR30A

+

5.900%)

9.567

07/25/43

618,855

1,250,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA1,

Series

2022

DNA1,

(SOFR30A

+

7.100%)

10.767

01/25/42

1,308,488

450,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA2,

Series

2022

DNA2,

(SOFR30A

+

4.750%)

8.417

02/25/42

465,441

1,500,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA2,

Series

2022

DNA2,

(SOFR30A

+

8.500%)

13.788

02/25/42

1,597,160

2,000,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA3,

Series

2022

DNA3,

(SOFR30A

+

9.750%)

15.087

04/25/42

2,175,912

850,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2023-DNA1,

Series

2023

DNA1,

(SOFR30A

+

8.150%)

11.818

03/25/43

956,667

1,500,000

(a),(b)

Freddie

Mac

STACR

Trust

2019-HQA2,

Series

2019

HQA2,

(SOFR30A

+

11.364%)

15.436

04/25/49

1,788,407

1,000,000

(b)

GS

Mortgage

Securities

Trust

2018-GS10,

Series

2018

GS10

4.547

07/10/51

915,494

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

10

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

(continued)

$

1,000,000

(a),(b)

ILPT

Commercial

Mortgage

Trust

2025-LPF2,

Series

2025

LPF2

8.199

%

07/13/42

$

1,043,036

800,000

(b)

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C22,

Series

2014

C22

4.513

09/15/47

762,992

1,250,000

(a),(b)

MFT

Trust

2020-ABC,

Series

2020

ABC

3.593

02/10/42

949,074

1,000,000

(a),(b)

MTN

Commercial

Mortgage

Trust

2022-LPFL,

Series

2022

LPFL,

(TSFR1M

+

5.285%)

9.605

03/15/39

1,003,276

879,613

(a),(b)

Santander

Bank

Mortgage

Credit-Linked

Notes,

Series

2023

MTG1,

(SOFR30A

+

4.900%)

9.256

02/26/52

1,015,915

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost

$28,547,107)

27,986,902

SHARES

DESCRIPTION

RATE

VALUE

2941031

PREFERRED

STOCK

-

0.8%

2941031

BANKS

-

0.2%

27,750

Wintrust

Financial

Corp

7.875

740,925

TOTAL

BANKS

740,925

FINANCIAL

SERVICES

-

0.2%

27,550

Synchrony

Financial

8.250

719,606

TOTAL

FINANCIAL

SERVICES

719,606

INSURANCE

-

0.4%

63,000

Enstar

Group

Ltd

7.000

1,480,500

TOTAL

INSURANCE

1,480,500

TOTAL

PREFERRED

STOCK

(Cost

$2,801,669)

2,941,031

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

16222929

SOVEREIGN

DEBT

-

4.5%

16222929

ANGOLA

-

0.1%

500,000

(a)

Angolan

Government

International

Bond

9.244

01/15/31

507,500

TOTAL

ANGOLA

507,500

ARGENTINA

-

0.2%

900,000

Argentine

Republic

Government

International

Bond

4.125

07/09/35

678,420

TOTAL

ARGENTINA

678,420

BAHAMAS

-

0.2%

600,000

(a)

Bahamas

Government

International

Bond

8.250

06/24/36

672,318

TOTAL

BAHAMAS

672,318

BARBADOS

-

0.1%

200,000

(a)

Barbados

Government

International

Bond

8.000

06/26/35

213,800

TOTAL

BARBADOS

213,800

BENIN

-

0.1%

200,000

(a)

Benin

Government

International

Bond

7.960

02/13/38

210,397

TOTAL

BENIN

210,397

BRAZIL

-

0.1%

500,000

Brazilian

Government

International

Bond

6.250

05/22/36

503,850

TOTAL

BRAZIL

503,850

COLOMBIA

-

0.2%

500,000

Colombia

Government

International

Bond

3.250

04/22/32

424,175

300,000

Colombia

Government

International

Bond

6.500

01/21/33

297,843

TOTAL

COLOMBIA

722,018

COTE

D'IVOIRE

-

0.3%

700,000

(a)

Ivory

Coast

Government

International

Bond

6.750

02/25/41

667,222

300,000

(a)

Ivory

Coast

Government

International

Bond

6.125

06/15/33

298,150

TOTAL

COTE

D'IVOIRE

965,372

DOMINICAN

REPUBLIC

-

0.1%

200,000

(a)

Dominican

Republic

International

Bond

6.500

02/15/48

201,044

150,000

(a)

Dominican

Republic

International

Bond

6.600

06/01/36

157,320

TOTAL

DOMINICAN

REPUBLIC

358,364

11

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ECUADOR

-

0.1%

$

155,762

(a)

Ecuador

Government

International

Bond

6.900

%

07/31/35

$

141,276

311,523

Ecuador

Government

International

Bond,

Reg

S

6.900

07/31/35

282,551

TOTAL

ECUADOR

423,827

EGYPT

-

0.2%

200,000

(a)

Egypt

Government

International

Bond

8.750

09/30/51

193,962

200,000

(a)

Egypt

Government

International

Bond

8.625

02/04/30

216,927

300,000

(a)

Egyptian

Financial

Co

for

Sovereign

Taskeek/The

6.375

04/07/29

303,372

TOTAL

EGYPT

714,261

EL

SALVADOR

-

0.1%

400,000

(a)

El

Salvador

Government

International

Bond

7.625

09/21/34

412,000

TOTAL

EL

SALVADOR

412,000

GHANA

-

0.0%

200,000

(a)

Ghana

Government

International

Bond

5.000

07/03/35

181,070

TOTAL

GHANA

181,070

GUATEMALA

-

0.1%

300,000

(a)

Guatemala

Government

Bond

3.700

10/07/33

272,547

TOTAL

GUATEMALA

272,547

HONDURAS

-

0.1%

200,000

(a)

Honduras

Government

International

Bond

5.625

06/24/30

202,000

TOTAL

HONDURAS

202,000

JORDAN

-

0.3%

300,000

(a)

Jordan

Government

International

Bond

5.850

07/07/30

301,326

600,000

(a)

Jordan

Government

International

Bond

5.750

11/12/32

589,159

TOTAL

JORDAN

890,485

KENYA

-

0.3%

200,000

(a)

Republic

of

Kenya

Government

International

Bond

9.500

03/05/36

210,630

600,000

(a)

Republic

of

Kenya

Government

International

Bond

7.875

02/26/34

590,198

TOTAL

KENYA

800,828

MONGOLIA

-

0.1%

200,000

(a)

Mongolia

Government

International

Bond

3.500

07/07/27

196,825

200,000

(a)

Mongolia

Government

International

Bond

6.625

02/25/30

208,716

TOTAL

MONGOLIA

405,541

NIGERIA

-

0.1%

500,000

(a)

Nigeria

Government

International

Bond

8.631

01/13/36

537,298

TOTAL

NIGERIA

537,298

PAKISTAN

-

0.1%

500,000

(a)

Pakistan

Government

International

Bond

7.375

04/08/31

495,195

TOTAL

PAKISTAN

495,195

PANAMA

-

0.2%

400,000

Panama

Government

International

Bond

6.875

01/31/36

439,920

500,000

Panama

Government

International

Bond

5.227

02/23/34

499,750

TOTAL

PANAMA

939,670

PARAGUAY

-

0.1%

200,000

(a)

Paraguay

Government

International

Bond

6.000

02/09/36

214,799

TOTAL

PARAGUAY

214,799

REPUBLIC

OF

SERBIA

-

0.1%

300,000

(a)

Serbia

International

Bond

2.125

12/01/30

267,294

TOTAL

REPUBLIC

OF

SERBIA

267,294

ROMANIA

-

0.2%

400,000

(a)

Romanian

Government

International

Bond

7.500

02/10/37

453,393

500,000

(a)

Romanian

Government

International

Bond

5.750

07/04/36

498,724

TOTAL

ROMANIA

952,117

RWANDA

-

0.1%

400,000

(a)

Rwanda

International

Government

Bond

5.500

08/09/31

376,282

TOTAL

RWANDA

376,282

SENEGAL

-

0.0%

300,000

(a)

Senegal

Government

International

Bond

6.250

05/23/33

185,538

TOTAL

SENEGAL

185,538

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

12

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH

AFRICA

-

0.2%

$

600,000

(a)

Republic

of

South

Africa

Government

International

Bond

7.100

%

11/19/36

$

645,541

TOTAL

SOUTH

AFRICA

645,541

SRI

LANKA

-

0.2%

800,000

(a)

Sri

Lanka

Government

International

Bond

3.600

06/15/35

652,626

TOTAL

SRI

LANKA

652,626

SURINAME

-

0.1%

300,000

(a)

Suriname

Government

International

Bond

7.700

11/06/30

308,700

TOTAL

SURINAME

308,700

UZBEKISTAN

-

0.0%

200,000

(a)

Republic

of

Uzbekistan

International

Bond

3.700

11/25/30

188,889

TOTAL

UZBEKISTAN

188,889

VENEZUELA

-

0.2%

1,775,000

(l)

Venezuela

Government

International

Bond,

Reg

S

8.250

10/13/24

687,990

TOTAL

VENEZUELA

687,990

ZAMBIA

-

0.2%

654,031

(a)

Zambia

Government

International

Bond

5.750

06/30/33

636,392

TOTAL

ZAMBIA

636,392

TOTAL

SOVEREIGN

DEBT

(Cost

$15,563,534)

16,222,929

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

48300393

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

-

13.2%

48300393

AUTOMOBILES

&

COMPONENTS

-

0.5%

1,745,625

(b)

Clarios

Global

LP,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

01/28/32

1,743,810

TOTAL

AUTOMOBILES

&

COMPONENTS

1,743,810

CAPITAL

GOODS

-

2.9%

454,794

(b)

Barnes

Group

Inc,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/27/32

454,083

1,940,400

(b)

Centuri

Group,

Inc,

Refinance

Term

Loan

B,

(TSFR1M

+

2.000%)

5.671

07/09/32

1,948,404

667,000

(b)

Columbus

McKinnon

Corporation,

Term

Loan

B,

(TSFR1M

+

3.500%)

7.160

02/03/33

665,960

498,750

(b)

CP

Atlas

Buyer,

Inc.,

Term

Loan,

(TSFR1M

+

5.250%)

8.923

07/08/30

484,620

609,000

(b)

LSF12

Helix

Parent

LLC,

Term

Loan

B,

(TSFR1M

+

3.500%)

7.173

02/10/33

609,094

198,333

(b)

QXO

Inc,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

04/30/32

198,591

498,750

(b)

TK

Elevator

Midco

GmbH,

Term

Loan

B,

(TSFR1M

+

3.000%)

6.377

04/30/30

499,461

2,000,000

(b),(d)

TK

Elevator

US

Newco

Inc,

(TBD)

TBD

TBD

2,002,500

1,745,581

(b),(m)

TransDigm,

Inc.,

Term

Loan,

(TSFR1M

+

2.500%)

6.173

01/20/32

1,746,532

1,400,000

(b),(d)

Victory

Buyer

LLC,

(TBD)

TBD

TBD

1,406,125

444,842

(b)

Windsor

Holdings

III,

LLC,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

08/01/30

444,911

TOTAL

CAPITAL

GOODS

10,460,281

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

2.2%

2,992,500

(b)

Allied

Universal

Holdco

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

08/20/32

2,998,708

2,000,000

(b),(d)

Archkey

Solutions

LLC,

Term

Loan

B,

(TBD)

TBD

TBD

2,008,330

750,000

(b),(m)

Dayforce,

Inc.,

Term

Loan,

(TSFR3M

+

3.000%)

6.663

02/04/33

693,217

498,750

(b)

GFL

Environmental

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.273

03/03/32

499,997

173,290

(b),(n)

Pye-Barker

Fire

&

Safety,

LLC,

Delayed

Draw

Term

Loan

1.250

12/16/32

173,662

1,159,710

(b)

Pye-Barker

Fire

&

Safety,

LLC,

Term

Loan,

(TSFR3M

+

2.500%)

6.205

12/16/32

1,162,198

427,853

(b)

WIN

Waste

Innovations

Holdings,

Inc.,

First

Lien

Term

Loan,

(TSFR1M

+

3.250%)

7.037

03/27/28

429,658

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

7,965,770

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0.7%

145,644

(b)

Johnstone

Supply

LLC,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.921

06/09/31

145,289

500,000

(b)

PetSmart,

Inc.,

Term

Loan

B,

(TSFR1M

+

4.000%)

7.677

08/18/32

497,915

2,000,000

(b),(d)

White

Cap

Supply

Holdings

LLC,

(TBD)

TBD

TBD

1,982,510

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

2,625,714

CONSUMER

DURABLES

&

APPAREL

-

0.1%

497,494

(b)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

2.750%)

6.416

07/31/28

495,939

TOTAL

CONSUMER

DURABLES

&

APPAREL

495,939

13

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONSUMER

SERVICES

-

0.4%

$

1,000,000

(b)

Camelot

U.S.

Acquisition

LLC,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

%

01/31/31

$

851,670

594,000

(b)

GBT

US

III

LLC,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.668

07/28/31

569,497

TOTAL

CONSUMER

SERVICES

1,421,167

FINANCIAL

SERVICES

-

0.3%

620,000

(b)

Beach

Acquisition

Bidco

LLC,

Term

Loan

B,

(TSFR3M

+

3.250%)

6.922

09/13/32

622,908

445,000

(b)

Orion

US

Finco

Inc.,

First

Lien

Term

Loan,

(TSFR3M

+

3.500%)

7.150

10/12/32

438,325

245,168

(b)

Tiger

Acquisition,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.176

08/23/32

245,244

TOTAL

FINANCIAL

SERVICES

1,306,477

FOOD,

BEVERAGE

&

TOBACCO

-

0.0%

111,906

(b)

City

Brewing

Company,

LLC,

PIK

First

Out

Term

Loan,

(TSFR3M

+

7.000%),

(cash

10.673%,

PIK

7.000%)

10.673

09/30/30

16,786

21,381

(b)

City

Brewing

Company,

LLC,

PIK

Super

Priority

Term

Loan,

(TSFR3M

+

7.000%),

(cash

10.673%,

PIK

7.000%)

10.673

09/30/30

9,621

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

26,407

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1.3%

462,675

(b)

Bausch

&

Lomb

Corporation,

Repriced

Term

Loan,

(TSFR1M

+

3.750%)

7.423

01/15/31

463,716

994,975

(b)

LifePoint

Health,

Inc.,

First

Lien

Term

Loan

B,

(TSFR3M

+

3.750%)

7.422

05/19/31

997,010

82,176

(b)

Medline

Borrower,

LP,

Term

Loan

B,

(TSFR1M

+

1.750%)

5.423

10/23/28

82,386

698,246

(b)

Surgery

Center

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

12/19/30

699,991

1,994,987

(b)

Team

Health

Holdings,

Inc.,

Repriced

Term

Loan

B,

(TSFR3M

+

4.000%)

7.661

06/30/28

1,996,234

495,000

(b)

Zelis

Payments

Buyer,

Inc.,

5th

Amendment

Term

Loan,

(TSFR1M

+

3.250%)

6.923

11/26/31

468,669

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

4,708,006

INSURANCE

-

1.3%

1,493,744

(b)

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

09/19/31

1,463,241

497,500

(b)

Asurion

LLC,

Term

Loan

B13,

(TSFR1M

+

4.250%)

7.923

09/19/30

496,816

492,786

(b)

Broadstreet

Partners,

Inc.,

Term

Loan

B4,

(TSFR1M

+

2.500%)

6.173

06/16/31

473,179

1,495,583

(b)

HUB

International

Limited,

Term

Loan

B,

(TSFR3M

+

2.250%)

5.920

06/20/30

1,481,629

743,753

(b)

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

07/31/31

722,556

TOTAL

INSURANCE

4,637,421

MATERIALS

-

0.8%

1,000,000

(b),(d)

Charter

NEX

US,

Inc.,

Repriced

Term

Loan

B,

(TBD)

TBD

TBD

1,000,625

980,828

(b),(d)

Clydesdale

Acquisition

Holdings

Inc,

Term

Loan

B,

(TBD)

TBD

TBD

972,246

496,212

(b)

Proampac

PG

Borrower

LLC,

Term

Loan,

(TSFR3M

+

4.000%)

7.662

09/15/28

490,630

500,000

(b)

TricorBraun

Holdings,

Inc.,

Term

Loan,

(TSFR1M

+

3.250%)

6.923

03/03/31

480,022

TOTAL

MATERIALS

2,943,523

MEDIA

&

ENTERTAINMENT

-

0.3%

498,750

(b)

AMC

Entertainment

Holdings,

Inc.

,

Term

Loan,

(TSFR1M

+

7.000%)

10.667

01/04/29

490,556

562,257

(b)

Planet

US

Buyer

LLC,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

3.000%)

6.673

02/10/31

562,740

125,000

(b)

Virgin

Media

Bristol

LLC,

Term

Loan

Q,

(TSFR1M

+

3.250%)

7.024

01/31/29

121,875

TOTAL

MEDIA

&

ENTERTAINMENT

1,175,171

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.1%

277,167

(b)

Parexel

International

Corporation,

Repriced

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

12/12/31

274,310

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

274,310

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0.1%

221,579

(b)

Cushman

&

Wakefield

U.S.

Borrower,

LLC,

Term

Loan,

(TSFR1M

+

2.500%)

6.173

01/31/30

222,410

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

222,410

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.2%

798,000

(b)

Instructure

Holdings,

Inc.,

Repriced

Term

Loan,

(TSFR3M

+

2.750%)

6.411

11/13/31

757,769

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

757,769

Portfolio

of

Investments

February

28,

2026

(continued)

Credit

Income

14

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOFTWARE

&

SERVICES

-

1.6%

$

196,262

(b)

Asurion

LLC,

Second

Lien

Term

Loan

B4,

(TSFR1M

+

5.250%)

9.037

%

01/22/29

$

196,707

496,250

(b)

Boxer

Parent

Company

Inc.,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.673

07/30/31

458,691

399,000

(b)

Clearwater

Analytics,

LLC,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.677

04/21/32

399,499

197,002

(b)

Cloud

Software

Group,

Inc.,

Term

Loan

B

(2031),

(TSFR3M

+

3.250%)

6.922

03/24/31

183,606

171,948

(b)

Cotiviti

Corporation,

Term

Loan,

(TSFR1M

+

2.750%)

6.421

05/01/31

152,980

1,000,000

(b)

Darktrace

PLC,

First

Lien

Term

Loan,

(TSFR3M

+

3.250%)

6.898

10/09/31

952,855

178,643

(b)

Epicor

Software

Corporation,

Term

Loan

E,

(TSFR1M

+

2.500%)

6.173

05/30/31

173,730

1,145,518

(b)

Fortress

Intermediate

3,

Inc,

Term

Loan

B,

(TSFR1M

+

3.000%)

6.668

06/27/31

1,116,880

429,165

(b)

Genesys

Cloud

Services

Holdings

II

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/30/32

396,334

215,229

(b)

Javelin

Buyer,

Inc.,

2nd

Lien

Term

Loan,

(TSFR3M

+

5.000%)

8.673

12/06/32

198,011

496,256

(b)

Javelin

Buyer,

Inc.,

Term

Loan,

(TSFR3M

+

2.750%)

6.417

12/08/31

464,620

247,494

(b)

Mitchell

International,

Inc.,

Term

Loan,

(TSFR1M

+

3.000%)

6.673

06/17/31

229,706

494,994

(b)

UKG

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.167

02/10/31

469,873

577,000

X

Corp,

(TSFR3M

+

6.500%)

10.448

10/29/29

606,283

TOTAL

SOFTWARE

&

SERVICES

5,999,775

TELECOMMUNICATION

SERVICES

-

0.2%

333,000

(b)

Windstream

Services

LLC,

Term

Loan

B,

(TSFR1M

+

4.000%)

7.673

10/06/32

333,832

524,407

(b)

Zayo

Group

Holdings,

Inc.,

Term

Loan,

(TSFR1M

+

3.000%)

3.644

03/11/30

505,515

TOTAL

TELECOMMUNICATION

SERVICES

839,347

UTILITIES

-

0.2%

694,122

(b)

Talen

Energy

Supply,

LLC,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.153

05/17/30

697,096

TOTAL

UTILITIES

697,096

TOTAL

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

(Cost

$48,858,395)

48,300,393

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$347,322,494)

349,071,633

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

2.3%

8,262,312

(o)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.700

(p)

8,262,312

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$8,262,312)

8,262,312

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

 5.9%

21730627

REPURCHASE

AGREEMENTS

-

5.9%

21730627

1,205,627

(q)

Fixed

Income

Clearing

Corporation

1.060

03/02/26

1,205,627

20,525,000

(r)

Fixed

Income

Clearing

Corporation

3.640

03/02/26

20,525,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$21,730,627)

21,730,627

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$21,730,627)

21,730,627

TOTAL

INVESTMENTS

-

103.9%

(Cost

$377,315,433

)

379,064,572

OTHER

ASSETS

&

LIABILITIES,

NET

-  (3.9)%

(14,208,144)

NET

ASSETS

-

100%

$

364,856,428

ETF

Exchange-Traded

Fund

EUR

Euro

PIK

Payment-in-kind

(“PIK”)

security.  Depending

on

the

terms

of

the

security,

income

may

be

received

in

the

form

of

cash,

securities,

or

a

combination

of

both.  The

PIK

rate

shown,

where

applicable,

represents

the

annualized

rate

of

the

last

PIK

payment

made

by

the

issuer

as

of

the

end

of

the

reporting

period.

Reg

S

Regulation

S

allows

U.S.

companies

to

sell

securities

to

persons

or

entities

located

outside

of

the

United

States

without

registering

those

securities

with

the

Securities

and

Exchange

Commission.

Specifically,

Regulation

S

provides

a

safe

harbor

from

the

registration

requirements

of

the

Securities

Act

for

the

offers

and

sales

of

securities

by

both

foreign

and

domestic

issuers

that

are

made

outside

the

United

States.

SOFR30A

30

Day

Average

Secured

Overnight

Financing

Rate

15

See

Notes

to

Financial

Statements

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

Investments

in

Derivatives

TBD

Senior

loan

purchased

on

a

when-issued

or

delayed-delivery

basis.

Certain

details

associated

with

this

purchase

are

not

known

prior

to

the

settlement

date

of

the

transaction.

In

addition,

senior

loans

typically

trade

without

accrued

interest

and

therefore

a

coupon

rate

is

not

available

prior

to

settlement.

At

settlement,

if

still

unknown,

the

borrower

or

counterparty

will

provide

the

Fund

with

the

final

coupon

rate

and

maturity

date.

TSFR1M

CME

Term

Secured

Overnight

Financing

Rate

1

Month

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

3

Month

(a)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$255,589,837

or

67.4%

of

Total

Investments.

(b)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable.  For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(c)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(d)

When-issued

or

delayed

delivery

security.

(e)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(f)

Contains

$1,000

Par

Preferred

and/or

Contingent

Capital

Securities.

(g)

Investment,

or

a

portion

of

investment,

is

out

on

loan

for

securities

lending.

The

total

value

of

the

securities

out

on

loan

as

of

the

end

of

the

fiscal

period

was

$7,960,979.

(h)

Perpetual

security.

Maturity

date

is

not

applicable.

(i)

$1,000

Par

Institutional

Preferred

security.

As

of

the

end

of

the

period,

the

percent

of

$1,000

Par

Institutional

Preferred

securities

was

5.0%

of

Total

Investments.

(j)

Contingent

Capital

Securities

(“CoCos”)

are

debt

or

preferred

securities

with

loss

absorption

characteristics

built

into

the

terms

of

the

security

for

the

benefit

of

the

issuer,

for

example

an

automatic

write-down

of

principal

or

a

mandatory

conversion

into

the

issuer’s

common

stock

under

certain

adverse

circumstances,

such

as

the

issuer’s

capital

ratio

falling

below

a

specified

level.

As

of

the

end

of

the

reporting

period,

the

Fund’s

total

investment

in

CoCos

was

2.8%

of

Total

Investments.

(k)

Affiliated

holding

(l)

Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(m)

Portion

of

investment

purchased

on

a

delayed

delivery

basis.

(n)

Investment,

or

portion

of

investment,

represents

an

outstanding

unfunded

senior

loan

commitment.

(o)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(p)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(q)

Agreement

with

Fixed

Income

Clearing

Corporation,

1.060%

dated

2/27/26

to

be

repurchased

at

$1,205,734

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

3.875%

and

maturity

date

10/15/27,

valued

at

$1,229,864.

(r)

Agreement

with

Fixed

Income

Clearing

Corporation,

3.640%

dated

2/27/26

to

be

repurchased

at

$20,531,226

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

3.625%

and

maturity

date

8/31/30,

valued

at

$20,935,605.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

U.S.

Treasury

5-Year

Note

181

6/26

$

19,858,434

$

19,935,453

$

77,019

Forward

Foreign

Currency

Contracts

Currency

Purchased

Notional

Amount

(Local

Currency)

Currency

Sold

Notional

Amount

(Local

Currency)

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

$

850,406

EUR

723,000

Morgan

Stanley

Capital

Services

LLC

4/08/26

$

(5,373)

Total

        $(5,373)

Total

unrealized

appreciation

on

forward

foreign

currency

contracts

        $–

Total

unrealized

depreciation

on

forward

foreign

currency

contracts

        $(5,373)

EUR

Euro

16

Portfolio

of

Investments

February

28,

2026

Flexible

Income

See

Notes

to

Financial

Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

-

96.0%

72980908

COMMON

STOCKS

-

8.4%

72980908

BANKS

-

0.7%

9,400

Citigroup,

Inc

$

1,035,786

8,700

JPMorgan

Chase

&

Co

2,612,610

26,100

Wells

Fargo

&

Co

2,125,845

TOTAL

BANKS

5,774,241

CAPITAL

GOODS

-

1.1%

18,400

Carrier

Global

Corp

1,184,960

3,875

(a)

Chart

Industries,

Inc

803,288

6,200

General

Dynamics

Corp

2,213,710

3,000

Hubbell,

Inc

1,534,890

13,100

nVent

Electric

plc

1,550,516

2,300

Parker-Hannifin

Corp

2,321,114

TOTAL

CAPITAL

GOODS

9,608,478

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0.3%

5,500

(a)

Amazon.com,

Inc

1,155,000

3,200

Home

Depot,

Inc

1,218,304

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

2,373,304

CONSUMER

SERVICES

-

0.2%

20,500

Boyd

Gaming

Corp

1,706,215

TOTAL

CONSUMER

SERVICES

1,706,215

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

0.2%

14,100

Walmart,

Inc

1,804,095

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

1,804,095

ENERGY

-

0.5%

6,300

Cheniere

Energy,

Inc

1,485,099

14,200

Exxon

Mobil

Corp

2,165,500

11,900

Shell

plc,

ADR

993,769

TOTAL

ENERGY

4,644,368

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

0.3%

9,400

American

Tower

Corp

1,803,484

46,646

National

Storage

Affiliates

Trust

979,566

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

2,783,050

FINANCIAL

SERVICES

-

0.4%

2,600

American

Express

Co

803,140

1,500

Ameriprise

Financial,

Inc

705,180

9,000

Bank

of

New

York

Mellon

Corp

1,071,900

6,700

Morgan

Stanley

1,115,617

TOTAL

FINANCIAL

SERVICES

3,695,837

FOOD,

BEVERAGE

&

TOBACCO

-

0.5%

17,800

Coca-Cola

Co

1,451,768

16,900

Mondelez

International,

Inc,

Class

A

1,040,702

9,501

Philip

Morris

International,

Inc

1,775,072

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

4,267,542

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0.3%

15,400

Abbott

Laboratories

1,791,790

2,600

Elevance

Health,

Inc

832,000

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

2,623,790

INSURANCE

-

0.3%

6,100

Allstate

Corp

1,308,572

6,000

Progressive

Corp

1,281,960

TOTAL

INSURANCE

2,590,532

MATERIALS

-

0.2%

1,700

Linde

plc

863,736

22,800

Smurfit

Westrock

plc

1,071,828

TOTAL

MATERIALS

1,935,564

17

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

VALUE

MEDIA

&

ENTERTAINMENT

-

0.4%

6,300

Alphabet,

Inc,

Class

C

$

1,962,009

15,600

Walt

Disney

Co

1,654,224

TOTAL

MEDIA

&

ENTERTAINMENT

3,616,233

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.7%

2,700

Amgen,

Inc

1,048,032

3,800

Danaher

Corp

800,432

1,600

Regeneron

Pharmaceuticals,

Inc

1,250,672

18,200

Roche

Holding

AG.,

Sponsored

ADR

1,085,657

33,500

Sanofi

S.A.,

ADR

1,630,110

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

5,814,903

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.4%

7,700

Applied

Materials,

Inc

2,866,710

4,200

Texas

Instruments,

Inc

890,862

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

3,757,572

SOFTWARE

&

SERVICES

-

0.2%

3,500

Microsoft

Corp

1,374,590

TOTAL

SOFTWARE

&

SERVICES

1,374,590

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.4%

18,600

Corning,

Inc

2,797,068

34,000

Hewlett

Packard

Enterprise

Co

729,980

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

3,527,048

TELECOMMUNICATION

SERVICES

-

0.5%

47,200

AT&T,

Inc

1,322,072

24,500

Telephone

and

Data

Systems,

Inc

1,096,375

8,700

T-Mobile

US,

Inc

1,888,683

TOTAL

TELECOMMUNICATION

SERVICES

4,307,130

TRANSPORTATION

-

0.1%

2,900

FedEx

Corp

1,122,300

TOTAL

TRANSPORTATION

1,122,300

UTILITIES

-

0.7%

26,400

Alliant

Energy

Corp

1,909,776

20,282

Sempra

1,952,548

18,400

Southern

Co

1,791,792

TOTAL

UTILITIES

5,654,116

TOTAL

COMMON

STOCKS

(Cost

$55,054,334)

72,980,908

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

13464115

CONVERTIBLE

BONDS

-

1.5%

13464115

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

1.5%

$

1,150,000

Seagate

HDD

Cayman

3.500

%

06/01/28

5,671,225

1,050,000

Western

Digital

Corp

3.000

11/15/28

7,792,890

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

13,464,115

TOTAL

CONVERTIBLE

BONDS

(Cost

$2,619,290)

13,464,115

SHARES

DESCRIPTION

RATE

VALUE

22759067

CONVERTIBLE

PREFERRED

SECURITIES

-

2.6%

22759067

BANKS

-

1.8%

1,100

Bank

of

America

Corp

7.250

1,367,311

11,405

Wells

Fargo

&

Co

7.500

14,050,846

TOTAL

BANKS

15,418,157

CAPITAL

GOODS

-

0.6%

69,005

Boeing

Co

6.000

5,032,535

TOTAL

CAPITAL

GOODS

5,032,535

Portfolio

of

Investments

February

28,

2026

(continued)

Flexible

Income

18

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

RATE

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.2%

39,125

Hewlett

Packard

Enterprise

Co

7.625

%

$

2,308,375

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

2,308,375

TOTAL

CONVERTIBLE

PREFERRED

SECURITIES

(Cost

$22,101,137)

22,759,067

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

630249334

CORPORATE

BONDS

-

72.5%

(b)

630249334

AUTOMOBILES

&

COMPONENTS

-

3.3%

$

4,100,000

(c)

Adient

Global

Holdings

Ltd

7.500

02/15/33

4,302,999

1,950,000

Ford

Motor

Co

5.291

12/08/46

1,665,127

9,365,000

Ford

Motor

Credit

Co

LLC

7.350

11/04/27

9,770,759

4,955,000

(d)

General

Motors

Co

6.600

04/01/36

5,437,304

7,376,000

(e),(f),(g)

General

Motors

Financial

Co

Inc

6.500

N/A

7,494,200

TOTAL

AUTOMOBILES

&

COMPONENTS

28,670,389

BANKS

-

7.2%

9,050,000

(f),(g)

Bank

of

America

Corp

6.625

N/A

9,474,527

8,965,000

(e),(f),(g)

Bank

of

America

Corp

6.300

N/A

8,972,710

3,049,000

(f),(g)

Citigroup

Inc

7.375

N/A

3,180,693

14,200,000

(f),(g)

Citigroup

Inc

6.625

N/A

14,679,692

3,475,000

(f),(g)

Citigroup

Inc

6.875

N/A

3,562,987

4,025,000

(f),(g),(h)

First

Citizens

BancShares

Inc/NC

(TSFR3M

+

4.234%)

7.957

N/A

4,110,382

5,825,000

(f),(g)

JPMorgan

Chase

&

Co

6.875

N/A

6,182,894

4,194,000

(f),(g)

PNC

Financial

Services

Group

Inc/The

6.200

N/A

4,260,119

7,250,000

(f),(g)

Wells

Fargo

&

Co

7.625

N/A

7,736,859

TOTAL

BANKS

62,160,863

CAPITAL

GOODS

-

3.3%

3,950,000

(c)

Builders

FirstSource

Inc

6.375

03/01/34

4,068,563

3,875,000

(c)

Chart

Industries

Inc

7.500

01/01/30

4,025,396

4,950,000

(c)

Herc

Holdings

Inc

7.000

06/15/30

5,187,190

10,025,000

Regal

Rexnord

Corp

6.400

04/15/33

10,900,441

4,147,000

(c)

WESCO

Distribution

Inc

7.250

06/15/28

4,177,252

TOTAL

CAPITAL

GOODS

28,358,842

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.3%

2,120,000

(c)

CACI

International

Inc

6.375

06/15/33

2,182,524

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

2,182,524

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

1.5%

8,494,000

Bath

&

Body

Works

Inc

6.875

11/01/35

8,654,702

4,000,000

(c)

Wayfair

LLC

7.750

09/15/30

4,206,441

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

12,861,143

CONSUMER

SERVICES

-

2.7%

4,205,000

(c)

Caesars

Entertainment

Inc

6.500

02/15/32

4,273,108

8,100,000

(c)

Light

&

Wonder

International

Inc

7.500

09/01/31

8,444,250

6,050,000

(c)

NCL

Corp

Ltd

7.750

02/15/29

6,464,322

4,025,000

(c)

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

7.125

02/15/31

4,346,759

TOTAL

CONSUMER

SERVICES

23,528,439

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

0.8%

6,300,000

(c)

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

6.250

03/15/33

6,496,430

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

6,496,430

ENERGY

-

11.5%

8,100,000

(c)

California

Resources

Corp

8.250

06/15/29

8,503,453

12,150,000

(c)

Columbia

Pipelines

Operating

Co

LLC

6.544

11/15/53

13,250,479

6,447,000

(g)

Enbridge

Inc

8.500

01/15/84

7,440,605

4,050,000

(f),(g)

Energy

Transfer

LP

7.125

N/A

4,201,251

13,250,000

(g)

Energy

Transfer

LP

8.000

05/15/54

14,214,786

2,050,000

(c)

PBF

Holding

Co

LLC

/

PBF

Finance

Corp

9.875

03/15/30

2,175,827

4,275,000

PBF

Holding

Co

LLC

/

PBF

Finance

Corp

6.000

02/15/28

4,257,155

5,625,000

(c)

Permian

Resources

Operating

LLC

7.000

01/15/32

5,903,702

2,100,000

(g)

Phillips

66

Co

6.200

03/15/56

2,128,522

6,150,000

(c)

SM

Energy

Co

8.625

11/01/30

6,508,840

19

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ENERGY

(continued)

$

5,686,000

(g)

South

Bow

Canadian

Infrastructure

Holdings

Ltd

7.500

%

03/01/55

$

6,035,337

7,906,000

(g)

Transcanada

Trust

5.875

08/15/76

7,923,243

1,150,000

(g)

Transcanada

Trust

5.600

03/07/82

1,155,487

2,050,000

(c)

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp

7.125

03/15/29

2,118,329

4,050,000

Valero

Energy

Corp

6.625

06/15/37

4,554,822

2,550,000

(c),(f),(g)

Venture

Global

LNG

Inc

9.000

N/A

2,230,169

2,475,000

(c)

Venture

Global

LNG

Inc

8.375

06/01/31

2,534,493

4,825,000

Western

Midstream

Operating

LP

6.150

04/01/33

5,163,140

TOTAL

ENERGY

100,299,640

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2.2%

7,917,000

(c)

Iron

Mountain

Inc

7.000

02/15/29

8,125,399

9,586,000

Piedmont

Operating

Partnership

LP

9.250

07/20/28

10,557,507

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

18,682,906

FINANCIAL

SERVICES

-

6.9%

5,126,700

(f),(g)

Ally

Financial

Inc

4.700

N/A

5,112,827

5,785,000

Ally

Financial

Inc

8.000

11/01/31

6,565,378

2,750,000

(f),(g)

American

Express

Co

3.550

N/A

2,732,725

5,425,000

(c),(g)

Ares

Finance

Co

III

LLC

4.125

06/30/51

5,339,003

4,175,000

Block

Inc

6.500

05/15/32

4,295,069

11,550,000

(f),(g)

Goldman

Sachs

Group

Inc/The

7.500

N/A

12,347,701

2,050,000

(g)

HA

Sustainable

Infrastructure

Capital

Inc

8.000

06/01/56

2,159,408

6,050,000

(g)

Morgan

Stanley

5.948

01/19/38

6,375,098

4,075,000

(c)

PennyMac

Financial

Services

Inc

7.125

11/15/30

4,189,198

10,450,000

(f),(g)

State

Street

Corp

6.700

N/A

10,940,607

TOTAL

FINANCIAL

SERVICES

60,057,014

FOOD,

BEVERAGE

&

TOBACCO

-

2.4%

4,250,000

Altria

Group

Inc

5.800

02/14/39

4,431,620

7,500,000

BAT

Capital

Corp

7.081

08/02/53

8,598,285

2,042,000

(c),(f),(g)

Land

O'

Lakes

Inc

8.000

N/A

2,040,725

3,300,000

(c),(f),(g)

Land

O'

Lakes

Inc

7.250

N/A

3,052,500

3,200,000

(c),(f),(g)

Land

O'

Lakes

Inc

7.000

N/A

2,856,000

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

20,979,130

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0.2%

2,100,000

(g)

DENTSPLY

SIRONA

Inc

8.375

09/12/55

2,098,081

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

2,098,081

INSURANCE

-

2.3%

6,200,000

(c),(e),(f),(i)

Allianz

SE

6.550

N/A

6,427,038

650,000

(g)

Enstar

Finance

LLC

5.500

01/15/42

645,473

10,255,000

(c),(g)

Liberty

Mutual

Group

Inc

7.800

03/15/37

11,879,670

1,303,000

(g)

MetLife

Inc

6.350

03/15/55

1,353,366

TOTAL

INSURANCE

20,305,547

MATERIALS

-

4.4%

8,275,000

ArcelorMittal

SA

7.000

10/15/39

9,558,719

2,685,500

Ashland

Inc

6.875

05/15/43

2,829,642

2,050,000

Celanese

US

Holdings

LLC

7.330

07/15/29

2,167,074

4,000,000

Celanese

US

Holdings

LLC

7.050

11/15/30

4,264,776

1,670,000

(c)

Compass

Minerals

International

Inc

8.000

07/01/30

1,761,934

3,200,000

(c)

Olin

Corp

6.625

04/01/33

3,124,708

6,300,000

(c),(e)

Owens-Brockway

Glass

Container

Inc

7.250

05/15/31

6,369,640

4,025,000

(c)

Sealed

Air

Corp

6.875

07/15/33

4,160,594

3,625,000

Southern

Copper

Corp

5.875

04/23/45

3,800,127

TOTAL

MATERIALS

38,037,214

MEDIA

&

ENTERTAINMENT

-

1.9%

2,050,000

(c),(e)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

7.375

03/01/31

2,115,135

7,500,000

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

6.484

10/23/45

7,121,460

4,199,000

(c)

Nexstar

Media

Inc

5.625

07/15/27

4,199,395

2,950,000

Time

Warner

Cable

Enterprises

LLC

8.375

07/15/33

3,449,518

TOTAL

MEDIA

&

ENTERTAINMENT

16,885,508

Portfolio

of

Investments

February

28,

2026

(continued)

Flexible

Income

20

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOFTWARE

&

SERVICES

-

2.1%

$

8,175,000

(c)

Amentum

Holdings

Inc

7.250

%

08/01/32

$

8,566,043

3,750,000

(c)

Gen

Digital

Inc

7.125

09/30/30

3,808,590

4,525,000

(e)

Intuit

Inc

5.500

09/15/53

4,282,602

1,925,000

Oracle

Corp

6.500

04/15/38

1,994,502

TOTAL

SOFTWARE

&

SERVICES

18,651,737

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

2.6%

9,269,000

Hewlett

Packard

Enterprise

Co

6.350

10/15/45

9,520,771

11,728,000

(c)

Seagate

Data

Storage

Technology

Pte

Ltd

9.625

12/01/32

13,154,254

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

22,675,025

TELECOMMUNICATION

SERVICES

-

2.6%

3,200,000

(g)

Bell

Telephone

Co

of

Canada

or

Bell

Canada

7.000

09/15/55

3,387,021

3,100,000

(c)

Digicel

International

Finance

Ltd

/

Difl

US

LLC

8.625

08/01/32

3,220,618

4,332,000

(c)

GCI

LLC

4.750

10/15/28

4,256,472

5,065,000

(c)

Level

3

Financing

Inc

8.500

01/15/36

5,273,675

6,000,000

(g)

TELUS

Corp

7.000

10/15/55

6,331,530

TOTAL

TELECOMMUNICATION

SERVICES

22,469,316

TRANSPORTATION

-

1.3%

3,779,000

XPO

CNW

Inc

6.700

05/01/34

4,054,217

2,785,000

(c)

XPO

Inc

6.250

06/01/28

2,829,774

4,420,000

(c)

XPO

Inc

7.125

06/01/31

4,592,884

TOTAL

TRANSPORTATION

11,476,875

UTILITIES

-

13.0%

8,250,000

(g)

AES

Corp/The

7.600

01/15/55

8,292,430

4,175,000

(g)

American

Electric

Power

Co

Inc

6.050

03/15/56

4,189,675

6,350,000

(g)

Dominion

Energy

Inc

6.875

02/01/55

6,649,117

7,228,000

(g)

Dominion

Energy

Inc

7.000

06/01/54

7,846,579

1,800,000

(g)

Edison

International

8.125

06/15/53

1,871,073

4,514,000

(g)

Edison

International

7.875

06/15/54

4,699,246

9,545,000

(g)

Emera

Inc

6.750

06/15/76

9,592,792

6,800,000

(g)

EUSHI

Finance

Inc

7.625

12/15/54

7,178,658

9,290,000

(g)

NextEra

Energy

Capital

Holdings

Inc

5.650

05/01/79

9,394,187

2,950,000

(g)

NextEra

Energy

Capital

Holdings

Inc

6.750

06/15/54

3,138,540

11,775,000

(c),(f),(g)

NRG

Energy

Inc

10.250

N/A

12,963,286

8,050,000

(g)

PG&E

Corp

7.375

03/15/55

8,327,749

3,122,000

(g)

Southern

Co/The

6.375

03/15/55

3,266,296

20,475,000

(c),(f),(g)

Vistra

Corp

8.000

N/A

20,812,140

5,090,000

(c),(f),(g)

Vistra

Corp

7.000

N/A

5,150,943

TOTAL

UTILITIES

113,372,711

TOTAL

CORPORATE

BONDS

(Cost

$618,358,792)

630,249,334

SHARES

DESCRIPTION

RATE

VALUE

56358443

PREFERRED

STOCK

-

6.5%

56358443

FINANCIAL

SERVICES

-

1.7%

314,799

Morgan

Stanley

7.125

8,027,375

181,000

Morgan

Stanley

6.625

4,778,400

89,574

Morgan

Stanley

6.875

2,273,388

TOTAL

FINANCIAL

SERVICES

15,079,163

FOOD,

BEVERAGE

&

TOBACCO

-

1.4%

90,213

CHS,

Inc

7.100

2,291,410

384,432

CHS,

Inc

6.750

9,664,621

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

11,956,031

INSURANCE

-

2.6%

287,059

Allstate

Corp

7.375

7,664,475

87,192

Athene

Holding

Ltd

6.350

2,125,741

169,032

Enstar

Group

Ltd

7.000

3,972,252

337,825

Reinsurance

Group

of

America,

Inc

7.125

8,648,320

TOTAL

INSURANCE

22,410,788

21

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

RATE

VALUE

UTILITIES

-

0.8%

85,590

Algonquin

Power

&

Utilities

Corp

8.532

%

$

2,203,086

188,375

SCE

Trust

VII

7.500

4,709,375

TOTAL

UTILITIES

6,912,461

TOTAL

PREFERRED

STOCK

(Cost

$56,779,537)

56,358,443

SHARES

DESCRIPTION

RATE

ISSUE

PRICE

CAP

PRICE

MATURITY

VALUE

38774099

STRUCTURED

NOTES

-

4.5%

38774099

24,600

(c)

JPMorgan

Chase

Bank,

Mandatory

Exchangeable

Notes,

Linked

to

Common

Stock

of

Amazon.com,Inc

(110.64%

of

the

Issue

Price)

11.000

%

$238.3400

$263.7090

07/21/26

5,320,493

7,400

(c)

Merrill

Lynch

B.V.

Linked

To

Regeneron

Pharmaceuticals

Inc

(111.57%

of

the

Issue

Price)

12.000

$707.5227

$789.3831

05/18/26

5,512,834

38,000

(c)

Merrill

Lynch

BV

Linked

To

Echostar

Corp

(115.70%

of

the

Issue

Price)

19.000

$10.0000

$86.5128

06/08/26

3,271,968

100,000

(c)

Merrill

Lynch

BV

Linked

To

Echostar

Corp

(116.60%

of

the

Issue

Price)

20.000

$77.2379

$90.0594

04/08/26

9,051,458

45,200

(c)

Merrill

Lynch

BV,

Linked

To

Builders

Firstsource

Inc.

(124.94%

of

the

Issue

Price)

11.000

$112.1500

$140.1202

08/26/26

4,810,149

57,600

(c)

Nomura

America

Finance

LLC,

Linked

to

Common

Stock

of

Netflix,

Inc.

(116.7%

of

the

Issue

Price)

12.000

$76.1136

$88.8246

08/25/26

4,932,053

28,300

(c)

Nomura

America

Finance

LLC,

Linked

to

Common

Stock

of

Take-Two

Interactive

Software,

Inc.

(114.4%

of

the

Issue

Price)

10.000

$208.7114

$238.7658

09/22/26

5,875,144

TOTAL

STRUCTURED

NOTES

(Cost

$37,024,081)

38,774,099

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$791,937,171)

834,585,966

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

1.4%

12,659,836

(j)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.700

(k)

12,659,836

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$12,659,836)

12,659,836

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

 3.2%

27,600,000

REPURCHASE

AGREEMENTS

-

3.2%

27,600,000

$

27,600,000

(l)

Fixed

Income

Clearing

Corporation

3.640

03/02/26

27,600,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$27,600,000)

27,600,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$27,600,000)

27,600,000

TOTAL

INVESTMENTS

-

100.6%

(Cost

$832,197,007

)

874,845,802

OTHER

ASSETS

&

LIABILITIES,

NET

-  (0.6)%

(5,274,450)

NET

ASSETS

-

100%

$

869,571,352

ADR

American

Depositary

Receipt

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

3

Month

Portfolio

of

Investments

February

28,

2026

(continued)

Flexible

Income

22

See

Notes

to

Financial

Statements

(a)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(b)

Contains

$1,000

Par

Preferred

and/or

Contingent

Capital

Securities.

(c)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$290,444,243

or

33.2%

of

Total

Investments.

(d)

Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

derivatives.

(e)

Investment,

or

a

portion

of

investment,

is

out

on

loan

for

securities

lending.

The

total

value

of

the

securities

out

on

loan

as

of

the

end

of

the

fiscal

period

was

$12,095,247.

(f)

Perpetual

security.

Maturity

date

is

not

applicable.

(g)

$1,000

Par

Institutional

Preferred

security.

As

of

the

end

of

the

period,

the

percent

of

$1,000

Par

Institutional

Preferred

securities

was

35.1%

of

Total

Investments.

(h)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable.  For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(i)

Contingent

Capital

Securities

(“CoCos”)

are

debt

or

preferred

securities

with

loss

absorption

characteristics

built

into

the

terms

of

the

security

for

the

benefit

of

the

issuer,

for

example

an

automatic

write-down

of

principal

or

a

mandatory

conversion

into

the

issuer’s

common

stock

under

certain

adverse

circumstances,

such

as

the

issuer’s

capital

ratio

falling

below

a

specified

level.

As

of

the

end

of

the

reporting

period,

the

Fund’s

total

investment

in

CoCos

was

0.7%

of

Total

Investments.

(j)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(k)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(l)

Agreement

with

Fixed

Income

Clearing

Corporation,

3.640%

dated

2/27/26

to

be

repurchased

at

$27,608,372

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

4.125%

and

maturity

date

2/29/32,

valued

at

$28,152,185.

23

Portfolio

of

Investments

February

28,

2026

Floating

Rate

Income

See

Notes

to

Financial

Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

-

97.0%

3579927

COMMON

STOCKS

-

0.2%

3579927

CAPITAL

GOODS

-

0.0%

2,687

(a)

TNT

Crane

&

Rigging,

Inc

$

604

4,761

(a)

TNT

Crane

&

Rigging,

Inc

48

TOTAL

CAPITAL

GOODS

652

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0.0%

99

(a),(b)

Belk,

Inc

792

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

792

CONSUMER

SERVICES

-

0.0%

17,726

(a)

Cengage

Learning

Holdings

II,

Inc

336,794

3,843

(a)

Crown

Finance

US,

Inc

62,545

TOTAL

CONSUMER

SERVICES

399,339

ENERGY

-

0.0%

2,246

Chord

Energy

Corp

243,399

TOTAL

ENERGY

243,399

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0.0%

52,393

(a)

Onex

Carestream

Finance

LP

26,197

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

26,197

MATERIALS

-

0.1%

56,897

(a)

Kleopatra

Finco

Sarl

92,239

56,897

(a)

Kleopatra

Finco

Sarl

92,239

56,897

(a)

Kleopatra

Finco

Sarl

92,239

56,897

(a)

Kleopatra

Finco

Sarl

92,239

56,897

(a)

Kleopatra

Finco

Sarl

92,239

56,897

(a)

Kleopatra

Finco

Sarl

92,239

56,897

(a)

Kleopatra

Finco

Sarl,

Class

A

92,238

56,897

(a)

Kleopatra

Finco

Sarl,

Class

B

92,239

56,897

(a)

Kleopatra

Finco

Sarl,

Class

C

92,239

TOTAL

MATERIALS

830,150

MEDIA

&

ENTERTAINMENT

-

0.0%

953

(a)

Crown

Finance

US,

Inc

15,510

TOTAL

MEDIA

&

ENTERTAINMENT

15,510

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.0%

63,592

(a)

Bright

Bidco

BV

22,257

46,554

(a)

Bright

Bidco

BV

16,294

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

38,551

SOFTWARE

&

SERVICES

-

0.0%

205

(a),(b)

Bloom

Parent,

Inc

204,614

TOTAL

SOFTWARE

&

SERVICES

204,614

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.0%

7,250

(a)

MLN

US

Holdco

LLC

363

35,822

(a)

Riverbed

Technology

LLC

358

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

721

TELECOMMUNICATION

SERVICES

-

0.1%

75,043

(a)

Altice

France

Lux

3

1,378,831

43,453

(a)

Uniti

Group,

Inc

318,076

TOTAL

TELECOMMUNICATION

SERVICES

1,696,907

TRANSPORTATION

-

0.0%

1,018

(a)

ACBL

HLDG

CORP

15,270

4,313

(a)

ACBL

HLDG

CORP

107,825

TOTAL

TRANSPORTATION

123,095

TOTAL

COMMON

STOCKS

(Cost

$21,858,149)

3,579,927

Portfolio

of

Investments

February

28,

2026

(continued)

Floating

Rate

Income

24

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

189444964

CORPORATE

BONDS

-

9.4%

189444964

AUTOMOBILES

&

COMPONENTS

-

0.1%

$

2,695,000

(c)

Clarios

Global

LP

/

Clarios

US

Finance

Co

6.750

%

05/15/28

$

2,756,602

TOTAL

AUTOMOBILES

&

COMPONENTS

2,756,602

CAPITAL

GOODS

-

1.1%

7,156,000

(c)

Camelot

Return

Merger

Sub

Inc

8.750

08/01/28

5,402,861

2,695,000

(c)

Chart

Industries

Inc

7.500

01/01/30

2,799,598

1,275,000

(c)

CP

Atlas

Buyer

Inc

9.750

07/15/30

1,276,210

5,255,000

(c)

TK

Elevator

US

Newco

Inc

5.250

07/15/27

5,252,867

6,530,000

(c)

TransDigm

Inc

6.875

12/15/30

6,796,117

TOTAL

CAPITAL

GOODS

21,527,653

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.3%

1,275,000

(c)

Allied

Universal

Holdco

LLC

7.875

02/15/31

1,347,048

1,990,000

(c)

Allied

Universal

Holdco

LLC/Allied

Universal

Finance

Corp/

Atlas

Luxco

4

Sarl

4.625

06/01/28

1,971,105

2,000,000

(c)

CoreLogic

Inc

4.500

05/01/28

1,870,394

731,000

(c)

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

5.750

04/15/26

732,461

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

5,921,008

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0.2%

2,000,000

(c)

Carvana

Co

9.000

06/01/30

2,082,120

1,275,000

(c)

LBM

Acquisition

LLC

9.500

06/15/31

1,189,193

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

3,271,313

CONSUMER

SERVICES

-

0.8%

2,560,000

(c)

1011778

BC

ULC

/

New

Red

Finance

Inc

3.875

01/15/28

2,527,665

3,970,000

(c)

1011778

BC

ULC

/

New

Red

Finance

Inc

4.000

10/15/30

3,812,418

1,275,000

(c)

Caesars

Entertainment

Inc

7.000

02/15/30

1,307,180

1,125,000

(c)

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.625

01/15/29

1,093,917

5,960,000

(c)

Odeon

Finco

PLC

12.750

11/01/27

6,108,094

TOTAL

CONSUMER

SERVICES

14,849,274

ENERGY

-

0.1%

97,317

(c)

Borr

IHC

Ltd

/

Borr

Finance

LLC

10.000

11/15/28

101,362

1,275,000

(c)

eG

Global

Finance

PLC

12.000

11/30/28

1,370,847

TOTAL

ENERGY

1,472,209

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

0.2%

1,000,000

(c)

Office

Properties

Income

Trust

9.000

03/31/29

1,016,290

3,500,000

(c)

RLJ

Lodging

Trust

LP

3.750

07/01/26

3,482,349

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

4,498,639

FOOD,

BEVERAGE

&

TOBACCO

-

0.1%

2,066,000

(c)

Froneri

Lux

FinCo

SARL

6.000

08/01/32

2,077,483

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

2,077,483

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1.7%

5,960,000

(c)

Medline

Borrower

LP

3.875

04/01/29

5,861,728

3,545,000

(c)

Radiology

Partners

Inc

8.500

07/15/32

3,650,216

15,129,069

(c)

Team

Health

Holdings

Inc,

(cash

9.000%,

PIK

4.500%)

9.000

06/30/28

15,923,345

5,660,000

(c)

Team

Health

Holdings

Inc

8.375

06/30/28

5,697,567

2,875,000

Tenet

Healthcare

Corp

4.625

06/15/28

2,871,062

437,000

Tenet

Healthcare

Corp

6.125

10/01/28

438,009

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

34,441,927

INSURANCE

-

0.8%

8,060,000

(c)

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

4.250

10/15/27

7,959,737

5,255,000

(c)

HUB

International

Ltd

7.250

06/15/30

5,420,292

2,695,000

(c)

Panther

Escrow

Issuer

LLC

7.125

06/01/31

2,741,748

TOTAL

INSURANCE

16,121,777

MATERIALS

-

0.2%

2,415,000

(c)

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

4.000

09/01/29

2,304,963

1,990,000

(c)

Arsenal

AIC

Parent

LLC

8.000

10/01/30

2,101,999

TOTAL

MATERIALS

4,406,962

25

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MEDIA

&

ENTERTAINMENT

-

0.6%

$

725,000

(c)

Advantage

Sales

&

Marketing

Inc

6.500

%

11/15/28

$

594,500

2,009,000

(c)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

5.125

05/01/27

2,008,551

896,392

(c)

iHeartCommunications

Inc

9.125

05/01/29

796,417

3,970,000

(c)

McGraw-Hill

Education

Inc

5.750

08/01/28

3,963,745

500,000

(c)

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

5.000

08/15/27

500,157

3,500,000

(c)

Sinclair

Television

Group

Inc

8.125

02/15/33

3,644,375

TOTAL

MEDIA

&

ENTERTAINMENT

11,507,745

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.2%

4,602,000

(c)

1261229

BC

Ltd

10.000

04/15/32

4,759,079

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

4,759,079

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0.1%

2,695,000

(c)

Cushman

&

Wakefield

US

Borrower

LLC

6.750

05/15/28

2,702,295

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

2,702,295

SOFTWARE

&

SERVICES

-

0.2%

1,836,000

(c)

Cloud

Software

Group

Inc

8.250

06/30/32

1,837,538

2,965,000

(c)

Open

Text

Holdings

Inc

4.125

12/01/31

2,589,917

TOTAL

SOFTWARE

&

SERVICES

4,427,455

TELECOMMUNICATION

SERVICES

-

2.2%

3,464,076

(c)

Altice

France

Lux

3

/

Altice

Holdings

1

9.500

11/01/29

3,517,246

2,539,663

(c)

Altice

France

SA

6.875

07/15/32

2,438,083

1,504,000

EchoStar

Corp,

(cash

6.750%,

PIK

6.750%)

6.750

11/30/30

1,523,182

20,041,000

EchoStar

Corp

10.750

11/30/29

21,883,650

2,270,000

(c)

Level

3

Financing

Inc

8.500

01/15/36

2,363,523

260,000

(c)

Telesat

Canada

/

Telesat

LLC

5.625

12/06/26

204,112

13,107,974

(c)

Zayo

Group

Holdings

Inc

9.250

03/09/30

12,780,046

TOTAL

TELECOMMUNICATION

SERVICES

44,709,842

TRANSPORTATION

-

0.3%

3,287,000

(c)

Air

Canada

3.875

08/15/26

3,287,864

1,990,000

(c)

United

Airlines

Inc

4.625

04/15/29

1,988,498

TOTAL

TRANSPORTATION

5,276,362

UTILITIES

-

0.2%

2,602,000

PG&E

Corp

5.000

07/01/28

2,595,122

1,000,000

PG&E

Corp

5.250

07/01/30

1,000,828

1,102,000

(c)

Talen

Energy

Supply

LLC

6.250

02/01/34

1,121,389

TOTAL

UTILITIES

4,717,339

TOTAL

CORPORATE

BONDS

(Cost

$188,192,162)

189,444,964

SHARES

DESCRIPTION

VALUE

46844103

EXCHANGE-TRADED

FUNDS

-

2.3%

46844103

40,000

(d)

Nuveen

AA-BBB

CLO

ETF

1,002,400

1,815,513

(a)

State

Street

SPDR

Bloomberg

Short

Term

High

Yield

Bond

ETF

45,841,703

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost

$48,475,330)

46,844,103

SHARES

DESCRIPTION

RATE

VALUE

294,833

PREFERRED

STOCK

-

0.0%

294,833

TELECOMMUNICATION

SERVICES

-

0.0%

277

(a),(b)

Uniti

Group

Inc

11.000

294,833

TOTAL

TELECOMMUNICATION

SERVICES

294,833

TOTAL

PREFERRED

STOCK

(Cost

$277,541)

294,833

Portfolio

of

Investments

February

28,

2026

(continued)

Floating

Rate

Income

26

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

1708828402

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

-

85.1%

1708828402

AUTOMOBILES

&

COMPONENTS

-

1.3%

$

11,171,221

(e)

Clarios

Global

LP,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

%

05/06/30

$

11,160,776

11,677,750

(e)

Clarios

Global

LP,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

01/28/32

11,665,605

3,721,591

(e),(f)

DexKo

Global

Inc.,

Term

Loan

B,

(TSFR3M

+

3.750%)

7.678

10/04/28

3,711,468

TOTAL

AUTOMOBILES

&

COMPONENTS

26,537,849

CAPITAL

GOODS

-

9.8%

5,690,658

(e)

ACProducts,

Inc.,

Term

Loan

B,

(TSFR3M

+

4.250%)

8.184

05/17/28

4,576,712

211,428

(e),(g)

Air

Comm

Corporation,

LLC,

Delayed

Draw

Term

Loan

1.000

12/11/31

211,781

4,337,140

(e)

Air

Comm

Corporation,

LLC,

Term

Loan,

(TSFR3M

+

2.750%)

6.431

12/11/31

4,344,383

1,450,000

(e)

Albion

Financing

3

SARL,

Term

Loan,

(TSFR3M

+

3.000%)

6.664

05/21/31

1,453,857

2,500,000

(e)

Allison

Transmission,

Inc.,

Incremental

Term

Loan

B,

(TSFR1M

+

1.750%)

5.410

01/03/33

2,516,063

2,542,760

(e),(f)

American

Trailer

World

Corp,

(TSFR1M

+

3.750%)

7.521

03/03/28

2,249,949

2,155,261

(e)

Artera

Services,

LLC,

Term

Loan,

(TSFR3M

+

4.500%)

8.172

02/10/31

1,771,700

5,632,242

(e),(f)

Barnes

Group

Inc,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/27/32

5,623,428

2,266,000

(e)

BCPE

Empire

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

12/26/30

2,258,715

3,464,441

(e)

Bleriot

US

Bidco

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.172

10/17/30

3,470,001

3,687,831

(e),(f)

Brand

Industrial

Services

Inc,

Term

Loan

B,

(TSFR3M

+

4.500%)

8.164

08/01/30

3,169,230

4,100,700

(e),(f)

Centuri

Group,

Inc,

Refinance

Term

Loan

B,

(TSFR1M

+

2.000%)

5.671

07/09/32

4,117,615

10,951,168

(e)

Chamberlain

Group

Inc,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

09/08/32

10,929,375

5,262,739

(e)

Chart

Industries,

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.161

03/18/30

5,275,896

5,556,000

(e),(f)

Columbus

McKinnon

Corporation,

Term

Loan

B,

(TSFR1M

+

3.500%)

7.160

02/03/33

5,547,333

2,137,000

(e)

CompoSecure

Holdings

LLC,

Term

Loan,

(TSFR1M

+

2.250%)

5.910

01/14/33

2,128,986

2,323,191

(e),(f)

Conair

Holdings,

LLC,

Term

Loan

B,

(TSFR1M

+

3.750%)

7.537

05/17/28

1,281,623

693,426

(e)

Cornerstone

Building

Brands,

Inc.,

Term

Loan,

(TSFR1M

+

5.625%)

9.285

08/01/28

508,513

4,744,094

(e),(f)

Cornerstone

Building

Brands,

Inc.,

Term

Loan

B,

(TSFR1M

+

3.250%)

7.010

04/12/28

3,508,945

3,455,718

(e)

CP

Atlas

Buyer,

Inc.,

Term

Loan,

(TSFR1M

+

5.250%)

8.923

07/08/30

3,357,817

3,253,000

(e),(f)

Dycom

Investments

Inc,

Term

Loan

B,

(TSFR3M

+

1.750%)

5.420

01/27/33

3,272,323

2,497,846

(e),(f)

Gibraltar

Industries

Inc,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.921

02/02/33

2,504,091

2,075,000

(e)

Green

Infrastructure

Partners

Inc,

(TSFR1M

+

2.750%)

6.422

09/24/32

2,076,307

1,914,057

(e),(f),(g)

Kaman

Corporation,

Delayed

Draw

Term

Loan,

(TSFR3M

+

2.500%)

6.148

02/26/32

1,913,923

20,197,243

(e),(f)

Kaman

Corporation,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

2.500%)

6.173

02/26/32

20,195,829

3,878,000

(e)

LSF12

Helix

Parent

LLC,

Term

Loan

B,

(TSFR1M

+

3.500%)

7.173

02/10/33

3,878,601

5,990,942

(e),(f)

Madison

IAQ

LLC,

Term

Loan,

(TSFR6M

+

2.500%)

6.128

06/21/28

6,003,313

1,867,053

(e)

Madison

Safety

&

Flow

LLC,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

09/26/31

1,869,620

3,829,793

(e),(f)

MI

Windows

and

Doors,

LLC,

Term

Loan

B2,

(TSFR1M

+

2.750%)

6.423

03/28/31

3,809,686

767,000

(e)

Oregon

Tool,

Inc.,

First

Lien

Term

Loan,

(TSFR3M

+

5.350%)

9.002

10/15/29

780,423

358,065

(e),(g)

Pinnacle

Buyer

LLC,

Delayed

Draw

Term

Loan

2.500

10/01/32

358,886

1,857,281

(e)

Pinnacle

Buyer

LLC,

Term

Loan,

(TSFR1M

+

2.500%)

6.161

10/01/32

1,861,543

8,956,233

(e),(f)

Quikrete

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

01/31/32

8,961,831

6,916,016

(e)

QXO

Inc,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

04/30/32

6,925,007

3,592,375

(e)

Resideo

Funding

Inc.,

Incremental

Term

Loan,

(TSFR3M

+

2.000%)

5.723

08/13/32

3,585,657

6,854,000

(e),(h)

RESILIENCE

PARENT

LLC,

(TBD)

TBD

TBD

6,845,433

21,244,081

(e),(f)

TK

Elevator

Midco

GmbH,

Term

Loan

B,

(TSFR1M

+

3.000%)

6.377

04/30/30

21,274,354

3,250,000

(e),(h)

TK

Elevator

US

Newco

Inc,

(TBD)

TBD

TBD

3,254,063

4,117,875

(e)

TransDigm,

Inc.,

Term

Loan,

(TSFR1M

+

2.500%)

6.173

01/20/32

4,120,119

8,270,636

(e)

TransDigm,

Inc.,

Term

Loan

J,

(TSFR1M

+

2.500%)

6.173

02/28/31

8,279,940

9,378,612

(e),(f)

TransDigm,

Inc.,

Term

Loan

M,

(TSFR1M

+

2.500%)

6.173

08/19/32

9,386,444

3,409,000

(e),(f)

TransDigm,

Inc.,

Term

Loan

N,

(TSFR3M

+

2.500%)

6.155

02/10/33

3,415,852

4,900,000

(e),(h)

Victory

Buyer

LLC,

(TBD)

TBD

TBD

4,921,438

TOTAL

CAPITAL

GOODS

197,796,605

27

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

7.0%

$

14,153,637

(e),(f)

Allied

Universal

Holdco

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

%

08/20/32

$

14,176,991

2,453,457

(e)

Amentum

Government

Services

Holdings

LLC,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

09/29/31

2,452,844

6,637,083

(e),(f)

Anticimex

International

AB,

Term

Loan,

(TSFR3M

+

2.900%)

6.560

11/17/31

6,657,160

245,927

(e),(g)

Archkey

Solutions

LLC,

Delayed

Draw

Term

Loan

B

4.250

11/03/31

246,951

2,115,408

(e)

Archkey

Solutions

LLC,

Term

Loan

B,

(TSFR3M

+

4.250%)

7.922

11/03/31

2,124,219

2,167,000

(e),(h)

CACI

International

Inc,

(TBD)

TBD

TBD

2,168,354

6,806,039

(e)

CoreLogic,

Inc.,

Term

Loan,

(TSFR1M

+

3.500%)

7.287

06/02/28

6,482,752

5,051,005

(e)

Creative

Artists

Agency,

LLC

,

Repriced

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

10/01/31

5,043,100

1,517,104

(e)

CSC

ServiceWorks

East

LLC,

(TSFR1M

+

5.430%)

9.101

09/04/30

1,555,190

16,165,000

(e),(f)

Dayforce,

Inc.,

Term

Loan,

(TSFR3M

+

3.000%)

6.663

02/04/33

14,941,148

4,062,000

(e)

Ensemble

RCM,

LLC,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.660

02/09/33

3,922,369

8,364,458

(e)

Garda

World

Security

Corporation,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.421

02/01/29

8,361,865

5,852,350

(e),(f)

GFL

Environmental

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.273

03/03/32

5,866,981

3,955,226

(e)

OMNIA

Partners

LLC,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.455

07/25/30

3,951,390

2,366,000

(e)

Openlane

Inc,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.140

10/08/32

2,368,969

5,221,968

(e)

PG

Investment

Company

59

S.a

r.l.,

Repriced

Term

Loan

B,

(TSFR3M

+

2.250%)

5.922

03/26/31

5,222,804

1,843,298

(e)

Prime

Security

Services

Borrower,

LLC,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.000%)

5.671

10/15/30

1,842,247

1,695,729

(e)

Prime

Security

Services

Borrower,

LLC,

Incremental

Term

Loan

B,

(TSFR1M

+

1.750%)

5.421

03/08/32

1,690,735

919,620

(e),(f),(g)

Pye-Barker

Fire

&

Safety,

LLC,

Delayed

Draw

Term

Loan

1.250

12/16/32

921,593

6,154,380

(e),(f)

Pye-Barker

Fire

&

Safety,

LLC,

Term

Loan,

(TSFR3M

+

2.500%)

6.205

12/16/32

6,167,581

3,693,910

(e)

Reverb

Buyer,

Inc.,

Steerco

Term

Loan,

(TSFR3M

+

3.500%)

7.267

11/01/28

2,659,615

1,845,000

(e),(f)

Reworld

Holding

Corp,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.250%)

5.926

01/15/31

1,845,867

898,817

(e),(f)

Reworld

Holding

Corp,

First

Lien

Term

Loan

C,

(TSFR1M

+

2.250%)

5.917

01/15/31

898,898

5,531,183

(e),(f)

Reworld

Holding

Corp,

Term

Loan

B1,

(TSFR1M

+

2.250%)

5.917

01/15/31

5,531,681

1,076,251

(e)

Signal

Parent,

Inc,

Term

Loan

B,

(TSFR3M

+

3.500%)

7.267

04/03/28

792,390

9,179,501

(e),(f)

Spin

Holdco

Inc.,

First

Lien

Second

Out

Term

Loan,

(TSFR1M

+

4.000%)

7.933

09/04/30

7,198,243

2,894,610

(e)

West

Corporation,

Term

Loan

B3,

(TSFR3M

+

4.000%)

7.792

04/12/27

898,111

518,700

(e),(f)

WIN

Waste

Innovations

Holdings,

Inc.,

First

Lien

Term

Loan,

(TSFR1M

+

3.250%)

7.037

03/27/28

520,889

21,908,531

(e),(f)

WIN

Waste

Innovations

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.537

03/27/28

21,961,549

2,718,602

(e)

XPLOR

T1

LLC,

Term

Loan,

(TSFR3M

+

3.500%)

7.292

12/01/32

2,460,335

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

140,932,821

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

3.4%

364,438

(e)

Academy,

Ltd.,

Term

Loan,

(TSFR1M

+

3.750%)

7.536

11/08/27

365,405

4,523,842

(e)

Belron

Finance

LLC,

Repriced

Term

Loan

B,

(TSFR3M

+

2.000%)

5.660

10/16/31

4,531,374

10,165,166

(e)

CNT

Holdings

I

Corp,

Term

Loan,

(TSFR3M

+

2.500%)

6.167

11/08/32

10,170,452

550,000

(e)

Dealer

Tire

Financial,

LLC,

Term

Loan

B4,

(TSFR1M

+

3.000%)

6.673

07/02/31

550,228

828,847

(e),(f)

Gulfside

Supply

Inc,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.672

06/17/31

768,238

6,464,826

(e)

Johnstone

Supply

LLC,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.921

06/09/31

6,449,084

2,060,503

(e)

Kodiak

Building

Partners

Inc.,

Term

Loan

B,

(TSFR1M

+

3.750%)

7.423

12/04/31

2,063,254

4,794,254

(e)

LBM

Acquisition

LLC,

Incremental

Term

Loan

B,

(TSFR1M

+

3.750%)

7.527

06/06/31

3,994,812

3,860,123

(e)

Les

Schwab

Tire

Centers,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.173

04/23/31

3,863,751

5,096,603

(e)

Michaels

Companies,

Inc.,

Term

Loan

B,

(TSFR3M

+

4.250%)

8.184

04/17/28

5,100,324

4,422,582

(e),(f)

Mister

Car

Wash

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

03/27/31

4,368,074

1,631,000

(e),(f)

Park

River

Holdings

Inc,

Term

Loan,

(TSFR3M

+

4.500%)

8.161

03/17/31

1,627,290

1,563,000

(e)

PetSmart,

Inc.,

Term

Loan

B,

(TSFR1M

+

4.000%)

7.677

08/18/32

1,556,482

1,097,945

(e),(f)

Restoration

Hardware,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.287

10/20/28

1,080,653

12,911,647

(e)

Wand

NewCo

3,

Inc.,

Repriced

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/30/31

12,857,870

6,861,475

(e),(f)

White

Cap

Buyer

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

10/29/29

6,797,148

Portfolio

of

Investments

February

28,

2026

(continued)

Floating

Rate

Income

28

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

(continued)

$

2,500,000

(e),(h)

White

Cap

Supply

Holdings

LLC,

(TBD)

TBD

TBD

$

2,478,138

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

68,622,577

CONSUMER

DURABLES

&

APPAREL

-

2.3%

4,309,824

(e)

ABG

Intermediate

Holdings

2

LLC,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

%

12/21/28

4,302,907

11,828,727

(e)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

2.750%)

6.416

07/31/28

11,791,762

5,721,798

(e),(f)

Hayward

Industries,

Inc.,

Term

Loan,

(TSFR1M

+

2.500%)

6.287

05/30/28

5,751,294

1,288,316

(e)

MajorDrive

Holdings

IV

LLC,

Term

Loan

B,

(TSFR3M

+

4.000%)

7.934

06/01/28

1,202,649

31,018

(e)

Serta

Simmons

Bedding,

LLC,

New

Term

Loan,

(TSFR3M

+

7.500%)

11.286

06/29/28

29,212

2,571,887

(e)

Somnigroup

International

Inc,

Term

Loan

B,

(SOFR30A

+

2.250%)

5.910

10/24/31

2,587,961

6,404,625

(e)

Varsity

Brands,

Inc.,

First

Lien

Term

Loan,

(TSFR3M

+

3.000%)

6.672

08/26/31

6,396,652

8,404,000

(e)

Weber-Stephen

Products

LLC,

Term

Loan

B,

(TSFR3M

+

3.750%)

7.411

10/01/32

8,420,808

5,300,343

(e),(f)

WH

Borrower,

LLC,

Term

Loan

B,

(TSFR3M

+

4.500%)

8.156

02/20/32

5,304,478

TOTAL

CONSUMER

DURABLES

&

APPAREL

45,787,723

CONSUMER

SERVICES

-

5.0%

550,000

(e)

101B.C.

Unlimited

Liability

Company,

Term

Loan

B6,

(TSFR1M

+

1.750%)

5.423

09/23/30

550,223

7,155,800

(e)

Alterra

Mountain

Company,

Term

Loan

B8,

(TSFR1M

+

2.500%)

6.173

05/31/30

7,173,689

9,818,749

(e),(f)

Alterra

Mountain

Company,

Term

Loan

B9,

(TSFR1M

+

2.500%)

6.173

08/17/28

9,837,159

6,146,744

(e),(f)

Caesars

Entertainment

Inc.,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

02/06/30

6,119,882

4,476,110

(e)

Caesars

Entertainment

Inc.,

Term

Loan

B1,

(TSFR1M

+

2.250%)

5.923

02/06/31

4,449,254

5,940,927

(e)

Camelot

U.S.

Acquisition

LLC,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

01/31/31

5,059,710

1,000,000

(e)

Delta

2

(LUX)

S.a.r.l.,

Term

Loan

B1,

(TSFR3M

+

1.750%)

5.422

09/19/31

1,003,250

3,244,328

(e)

DK

Crown

Holdings

Inc.,

Term

Loan

B,

(TSFR1M

+

1.750%)

5.418

03/04/32

3,238,504

4,105,244

(e),(f)

Element

Materials

Technology

Group

US

Holdings

Inc.,

Term

Loan,

(TSFR1M

+

3.500%)

7.172

07/06/29

4,129,198

4,081,482

(e)

Fertitta

Entertainment,

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

01/29/29

4,066,564

6,953,388

(e)

Flutter

Financing

B.V.,

Term

Loan

B,

(TSFR3M

+

1.750%)

5.422

11/29/30

6,860,664

6,194,904

(e)

Flutter

Financing

B.V.,

Term

Loan

B,

(TSFR3M

+

2.000%)

5.672

06/04/32

6,125,212

5,381,378

(e),(f)

GVC

Holdings

(Gibraltar)

Limited,

Term

Loan

B6

(2029),

(TSFR3M

+

2.250%)

5.922

10/31/29

5,369,835

4,584,593

(e)

Herschend

Entertainment

Company,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

05/27/32

4,605,614

2,567,000

(e),(h)

Houghton

Mifflin

Harcourt

Co,

(TBD)

TBD

TBD

2,184,774

5,804,718

(e)

IRB

Holding

Corp,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

12/16/30

5,791,425

7,819,223

(e)

Light

and

Wonder

International,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.677

04/16/29

7,833,884

3,894,710

(e),(f)

Motion

Finco

Sarl,

Term

Loan

B,

(TSFR3M

+

3.500%)

7.172

11/30/29

3,312,451

3,638,696

(e)

Scientific

Games

Holdings

LP,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.652

04/04/29

3,572,999

3,429,490

(e)

SeaWorld

Parks

&

Entertainment,

Inc.,

Term

Loan

B3,

(TSFR1M

+

2.000%)

5.673

12/04/31

3,420,916

550,000

(e),(h)

Station

Casinos

LLC,

(TBD)

TBD

TBD

550,968

5,486,133

(e)

TKO

Worldwide

Holdings,

LLC,

Term

Loan,

(TSFR3M

+

2.000%)

5.664

11/21/31

5,497,571

TOTAL

CONSUMER

SERVICES

100,753,746

ENERGY

-

1.6%

2,555,000

(e)

EG

America

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

01/30/31

2,555,958

18,250,000

(e)

Freeport

LNG

Investments,

LLLP,

Term

Loan

B,

(TSFR3M

+

3.250%)

6.893

01/31/33

18,155,921

8,021,000

(e),(f)

New

Fortress

Energy

Inc,

Incremental

Term

Loan

B,

(TSFR3M

+

5.500%)

9.238

10/30/28

3,907,189

550,000

(e)

Oryx

Midstream

Services

Permian

Basin

LLC,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

10/05/28

551,100

4,915,298

(e)

TransMontaigne

Operating

Company

L.P.,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

11/17/28

4,917,608

1,772,074

(e)

Traverse

Midstream

Partners

LLC,

Term

Loan,

(TSFR3M

+

2.500%)

6.167

02/16/28

1,780,935

TOTAL

ENERGY

31,868,711

29

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FINANCIAL

SERVICES

-

1.4%

$

4,837,638

(e)

AAL

Delaware

Holdco,

Inc.,

Term

Loan,

(TSFR1M

+

2.750%)

6.423

%

07/30/31

$

4,850,603

2,015,272

(e)

Aragorn

Parent

Corporation,

Repriced

Term

Loan

B,

(TSFR1M

+

3.500%)

7.173

12/15/28

2,017,035

4,829,000

(e),(f)

Beach

Acquisition

Bidco

LLC,

Term

Loan

B,

(TSFR3M

+

3.250%)

6.922

09/13/32

4,851,648

6,687,350

(e),(f)

Colossus

Acquireco

LLC,

Term

Loan

B,

(SOFR90A

+

1.750%)

5.410

07/30/32

6,677,819

1,777,219

(b),(e),(i)

Ditech

Holding

Corporation,

Term

Loan

0.000

06/30/27

177

6,127,167

(e)

Kestra

Advisor

Services

Holdings

A,

Inc.,

Repriced

Term

Loan,

(TSFR1M

+

3.000%)

6.673

03/24/31

6,045,798

3,044,000

(e)

Orion

US

Finco

Inc.,

First

Lien

Term

Loan,

(TSFR3M

+

3.500%)

7.150

10/12/32

2,998,340

TOTAL

FINANCIAL

SERVICES

27,441,420

FOOD,

BEVERAGE

&

TOBACCO

-

1.9%

3,872,511

(e)

CHG

PPC

Parent

LLC,

Term

Loan,

(TSFR1M

+

3.000%)

6.787

12/08/28

3,882,192

919,492

(e)

City

Brewing

Company,

LLC,

PIK

First

Out

Term

Loan,

(TSFR3M

+

7.000%),

(cash

10.673%,

PIK

7.000%)

10.673

09/30/30

137,924

210,942

(e)

City

Brewing

Company,

LLC,

PIK

Super

Priority

Term

Loan,

(TSFR3M

+

7.000%),

(cash

10.673%,

PIK

7.000%)

10.673

09/30/30

94,924

2,210,371

(e)

Fiesta

Purchaser,

Inc.,

Repriced

Term

Loan,

(TSFR1M

+

2.750%)

6.423

02/12/31

2,149,088

8,810,000

(e),(f)

Froneri

Lux

Finco

Sarl,

Term

Loan,

(TSFR6M

+

2.250%)

5.877

09/30/32

8,622,788

1,892,000

(e)

Naked

Juice

LLC,

FLFO

Term

Loan,

(TSFR3M

+

5.500%)

9.172

01/24/29

1,888,254

7,613,079

(e)

Pegasus

BidCo

BV,

Repriced

Term

Loan

B,

(TSFR3M

+

2.750%)

6.403

07/12/29

7,624,156

169,871

(e),(g)

Sauer

Brands

Inc,

Delayed

Draw

Term

Loan

3.000

02/19/32

170,331

1,792,199

(e)

Sauer

Brands

Inc,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.667

02/19/32

1,797,056

12,789,121

(e),(f)

Triton

Water

Holdings,

Inc,

Term

Loan

B,

(TSFR3M

+

2.250%)

5.922

03/31/28

12,799,992

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

39,166,705

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

7.1%

2,687,706

(e)

ADMI

Corp.,

Term

Loan

B5,

(TSFR1M

+

5.750%)

9.423

12/23/27

2,593,636

8,596,854

(e)

AHP

Health

Partners,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

09/20/32

8,608,675

4,479,099

(e)

Bausch

&

Lomb

Corporation,

Repriced

Term

Loan,

(TSFR1M

+

3.750%)

7.423

01/15/31

4,489,176

12,372,540

(e)

Gainwell

Acquisition

Corp.,

Term

Loan

B,

(TSFR3M

+

4.000%)

7.772

10/01/27

11,769,379

9,358,761

(e)

Global

Medical

Response,

Inc.,

Term

Loan

B,

(TSFR3M

+

3.500%)

7.170

09/20/32

9,371,348

7,290,967

(e),(f)

LifePoint

Health,

Inc.,

First

Lien

Term

Loan

B,

(TSFR3M

+

3.750%)

7.422

05/19/31

7,305,877

401,000

(e)

LifePoint

Health,

Inc.,

Incremental

Term

Loan

B1,

(TSFR3M

+

3.500%)

7.152

05/19/31

401,178

3,573,000

(e)

Lumexa

Imaging,

Inc.,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.705

12/17/32

3,584,916

245,795

(e)

Medical

Solutions

Holdings,

Inc.,

First

Lien

Term

Loan,

(TSFR3M

+

3.500%)

7.267

11/01/28

50,542

4,267,494

(e),(f)

Medline

Borrower,

LP,

Incremental

Term

Loan

B,

(TSFR1M

+

1.750%)

5.423

10/23/30

4,279,827

5,635,494

(e)

Medline

Borrower,

LP,

Term

Loan

B,

(TSFR1M

+

1.750%)

5.423

10/23/28

5,649,893

945,600

(e),(f),(g)

National

Mentor

Holdings,

Inc.,

Delayed

Draw

Term

Loan

6.000

12/12/30

932,007

2,206,400

(e),(f)

National

Mentor

Holdings,

Inc.,

First

Lien

Term

Loan

B,

(TSFR1M

+

6.000%)

9.673

12/12/30

2,174,683

150,000

(e)

National

Mentor

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

6.000%)

9.673

12/12/30

147,844

2,270,000

(e)

Onex

TSG

Intermediate

Corp.,

Term

Loan

B,

(TSFR3M

+

3.250%)

6.910

08/06/32

2,276,390

5,703,438

(e),(f)

Opal

Bidco

SAS,

First

Lien

Term

Loan

B,

(TSFR3M

+

3.000%)

6.686

04/23/32

5,704,150

5,026,061

(e),(f)

Pacific

Dental

Services,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.167

03/17/31

5,028,147

12,941,533

(e)

Phoenix

Guarantor

Inc,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

02/21/31

12,942,439

3,203,350

(e)

Radiology

Partners

Inc,

Term

Loan,

(TSFR3M

+

4.500%)

8.172

06/30/32

3,174,984

313,046

(e)

Sound

Inpatient

Physicians,

Tranche

A

Term

Loan

(First

Out),

(TSFR3M

+

5.500%),

(cash

9.433%,

PIK

1.000%)

9.433

06/28/28

322,959

5,244,256

(e),(f)

Sound

Inpatient

Physicians,

Tranche

B

Term

Loan

(Second

Out),

(TSFR3M

+

3.500%),

(cash

7.433%,

PIK

1.500%)

7.433

06/28/28

5,117,843

5,335,685

(e)

Star

Parent

Inc.,

Term

Loan

B,

(TSFR3M

+

4.000%)

7.672

09/30/30

5,181,350

24,817,472

(e),(f)

Surgery

Center

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

12/19/30

24,879,516

10,013,098

(e),(f)

Team

Health

Holdings,

Inc.,

Repriced

Term

Loan

B,

(TSFR3M

+

4.000%)

7.661

06/30/28

10,019,357

Portfolio

of

Investments

February

28,

2026

(continued)

Floating

Rate

Income

30

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

(continued)

$

2,779,817

(e)

Upstream

Newco,

Inc.,

Term

Loan,

(TSFR3M

+

4.250%),

(cash

8.179%,

PIK

1.500%)

8.179

%

11/20/29

$

2,579,434

4,918,404

(e)

Viant

Medical

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

4.000%)

7.673

10/29/31

4,910,215

6,955

(b),(e)

Vyaire

Medical

Inc

0.000

06/14/27

1

303,385

(b),(e),(i)

Vyaire

Medical

Inc,

(TSFR3M

+

4.750%)

0.000

04/16/25

30

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

143,495,796

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0.1%

1,446,234

(e)

VC

GB

Holdings

I

Corp.,

First

Lien

Term

Loan,

(TSFR3M

+

3.500%)

7.434

05/16/28

1,448,859

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

1,448,859

INSURANCE

-

6.4%

2,397,687

(e)

Acrisure,

LLC,

First

Lien

Term

Loan

B6,

(TSFR1M

+

3.000%)

6.673

11/06/30

2,328,753

7,496,212

(e)

Alera

Group,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

05/28/32

7,156,784

21,708,918

(e)

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

09/19/31

21,265,622

7,572,030

(e)

AmWINS

Group,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

01/30/32

7,505,775

4,813,982

(e)

Asurion

LLC,

Term

Lo

an

B10,

(TSFR1M

+

4.000%)

7.773

08/21/28

4,817,857

929,120

(e)

Asurion

LLC,

Term

Loan

B11,

(TSFR1M

+

4.250%)

8.023

08/21/28

930,207

7,555,177

(e)

Asurion

LLC,

Term

Loan

B13,

(TSFR1M

+

4.250%)

7.923

09/19/30

7,544,789

26,726,729

(e)

Broadstreet

Partners,

Inc.,

Term

Loan

B4,

(TSFR1M

+

2.500%)

6.173

06/16/31

25,663,272

550,000

(e)

Evertec

Group,

LLC,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

10/15/30

551,375

8,756,163

(e)

HUB

International

Limited,

Term

Loan

B,

(TSFR3M

+

2.250%)

5.920

06/20/30

8,674,468

14,926,196

(e)

Ryan

Specialty

Group,

LLC,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

09/15/31

14,924,331

10,724,061

(e)

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

07/31/31

10,418,425

2,841,550

(e)

Trucordia

Insurance

Holdings

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

06/17/32

2,734,992

8,286,855

(e)

Truist

Insurance

Holdings

LLC,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.422

05/06/31

8,154,265

5,486,777

(e)

USI,

Inc.,

Term

Loan

C,

(TSFR3M

+

2.250%)

5.922

09/27/30

5,469,631

1,328,484

(e)

USI,

Inc.,

Term

Loan

D,

(TSFR3M

+

2.250%)

5.922

11/23/29

1,325,163

TOTAL

INSURANCE

129,465,709

MATERIALS

-

4.4%

3,907,737

(e),(f)

Arsenal

AIC

Parent

LLC,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

08/19/30

3,917,506

8,549,393

(e)

Berlin

Packaging

LLC,

Term

Loan

B7,

(TSFR3M

+

3.250%)

6.916

06/09/31

8,519,470

6,400,000

(e)

BradyPlus

Holdings

LLC,

Term

Loan

B,

(TSFR3M

+

3.500%)

7.190

12/29/32

6,362,016

7,772,130

(e)

Clydesdale

Acquisition

Holdings

Inc,

Term

Loan

B,

(TSFR1M

+

3.175%)

6.848

04/13/29

7,719,553

8,945,243

(e),(f)

Clydesdale

Acquisition

Holdings

Inc,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

04/01/32

8,866,973

3,324,894

(e),(f)

Fortis

333,

Inc.,

Term

Loan

B,

(TSFR3M

+

3.500%)

7.172

04/02/32

3,312,426

2,100,000

(e)

Graham

Packaging

Company

Inc.,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

01/26/33

2,098,845

1,166,000

(e),(h)

Ineos

US

Finance

LLC,

(TBD)

TBD

TBD

1,070,289

5,512,247

(e)

Klockner-Pentaplast

of

America,

Inc.,

Term

Loan,

(TSFR3M

+

3.500%)

5.333

01/30/31

4,915,077

5,340,407

(e)

Nouryon

Finance

B.V.,

Term

Loan

B1,

(TSFR6M

+

3.250%)

7.036

04/03/28

5,348,765

274,954

(e)

Nouryon

Finance

B.V.,

Term

Loan

B2,

(TSFR3M

+

3.250%)

6.917

04/03/28

273,666

6,875,000

(e),(h)

ProAmpac

PG

Borrower

LLC,

(TBD)

TBD

TBD

6,797,656

6,160,298

(e)

Proampac

PG

Borrower

LLC,

Term

Loan,

(TSFR3M

+

4.000%)

7.662

09/15/28

6,090,994

8,655,000

(e)

Qnity

Electronics

Inc,

Term

Loan

B,

(TSFR6M

+

2.000%)

5.698

11/01/32

8,698,275

2,770,000

(e)

Solstice

Advanced

Materials

Inc,

Term

Loan

B,

(TSFR3M

+

1.750%)

5.417

10/29/32

2,782,991

6,511,438

(e)

SupplyOne,

Inc,

Term

Loan

B,

(TSFR1M

+

3.500%)

7.173

04/21/31

6,545,526

3,341,871

(e)

TricorBraun

Holdings,

Inc.,

Term

Loan,

(TSFR1M

+

3.250%)

6.923

03/03/31

3,208,346

118,517

(e),(g)

USALCO,

LLC,

Delayed

Draw

Term

Loan

1.000

09/30/31

118,813

1,136,590

(e)

USALCO,

LLC,

Term

Loan,

(TSFR1M

+

3.500%)

7.173

09/30/31

1,139,432

TOTAL

MATERIALS

87,786,619

31

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MEDIA

&

ENTERTAINMENT

-

6.1%

$

2,839,143

(e)

Advantage

Sales

&

Marketing,

Inc.,

Term

Loan,

(TSFR3M

+

4.250%)

8.163

%

10/28/27

$

2,349,745

3,884,447

(e)

Altice

France

S.A.,

Term

Loan

B11,

(TSFR3M

+

4.125%)

7.797

04/28/28

3,869,881

1,392,068

(e)

Altice

France

S.A.,

Term

Loan

B12,

(TSFR3M

+

5.063%)

8.735

10/31/28

1,389,750

5,365,016

(e)

Altice

France

S.A.,

Term

Loan

B13,

(TSFR3M

+

5.375%)

9.047

05/14/29

5,354,957

8,846,048

(e),(f)

Altice

France

S.A.,

Term

Loan

B14,

(TSFR3M

+

6.875%)

10.547

05/15/31

8,888,067

3,719,727

(e)

AMC

Entertainment

Holdings,

Inc.

,

Term

Loan,

(TSFR1M

+

7.000%)

10.667

01/04/29

3,658,611

4,564,077

(e)

Cengage

Learning,

Inc.,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

3.000%)

6.671

03/24/31

4,466,565

3,536,494

(e)

Century

De

Buyer

LLC,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.667

10/30/30

3,430,399

6,553,051

(e),(f)

Cinemark

USA,

Inc.,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

2.250%)

5.922

05/24/30

6,577,101

10,989,401

(e)

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan,

(TSFR1M

+

4.000%)

7.787

08/23/28

11,051,217

1,889,429

(e)

CMG

Media

Corporation,

Term

Loan,

(TSFR3M

+

3.500%)

7.272

06/18/29

1,793,304

11,552,838

(e)

Crown

Finance

US,

Inc.,

Term

Loan

B,

(TSFR1M

+

4.500%)

8.171

12/02/31

11,259,916

3,880,919

(e),(f)

CSC

Holdings,

LLC,

Term

Loan

B5,

(Prime

+

1.500%)

8.250

04/15/27

3,363,069

455,110

(e)

E.W.

Scripps

Company

(The),

Term

Loan

B2,

(TSFR1M

+

5.750%)

9.532

06/30/28

461,083

819,187

(e)

E.W.

Scripps

Company

(The),

Term

Loan

B3,

(TSFR1M

+

3.350%)

7.132

11/30/29

797,888

3,617,254

(e)

iHeartCommunications,

Inc.,

Term

Loan,

(TSFR1M

+

5.775%)

9.562

05/01/29

3,140,971

2,364,453

(e)

McGraw-Hill

Global

Education

Holdings,

LLC,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

08/06/31

2,363,897

3,445,000

(e),(f)

NEP

Group,

Inc.,

Term

Loan

B,

(TSFR1M

+

4.500%)

8.173

10/17/31

3,156,929

5,845,753

(e)

Planet

US

Buyer

LLC,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

3.000%)

6.673

02/10/31

5,850,780

4,033,539

(e)

Radiate

Holdco,

LLC,

FLFO

Term

Loan,

(TSFR1M

+

3.500%),

(cash

7.287%,

PIK

1.500%)

7.287

09/25/29

3,514,221

1,662,254

(e)

Sinclair

Television

Group

Inc.,

Term

Loan

B6,

(TSFR1M

+

3.300%)

7.087

12/31/29

1,427,461

3,330,000

(e)

Sunrise

Financing

Partnership,

Term

Loan

AAA,

(TSFR6M

+

2.500%)

6.129

02/17/32

3,306,424

4,869,922

(e),(f)

WideOpenWest

Finance

LLC,

Super

Senior

2nd

Out

Term

Loan,

(TSFR3M

+

3.000%)

6.929

12/11/28

4,535,115

25,802,590

(e)

X

Corp.,

Term

Loan,

(TSFR3M

+

6.500%)

10.448

10/29/29

25,902,059

TOTAL

MEDIA

&

ENTERTAINMENT

121,909,410

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

4.6%

997,500

(e)

Amneal

Pharmaceuticals

LLC,

Term

Loan,

(TSFR1M

+

3.000%)

6.673

08/02/32

999,575

6,768,376

(e)

Bausch

Health

Companies

Inc.,

Term

Loan

B,

(TSFR1M

+

6.250%)

9.923

10/08/30

6,616,087

5,890,000

(e),(h)

BioMarin

Pharmaceutical

Inc,

(TBD)

TBD

TBD

5,891,237

2,039,054

(e)

Dechra

Pharmaceuticals

Holdings

Ltd,

Term

Loan

B,

(TSFR6M

+

2.750%)

6.387

01/27/32

2,041,603

4,457,000

(e),(f)

Genmab

AS,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.706

12/13/32

4,480,667

29,281,000

(e),(h)

HOPPER

MERGER

SUB

INC,

(TBD)

TBD

TBD

28,969,889

10,607,500

(e),(f)

Jazz

Financing

Lux

S.a.r.l.,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

05/05/28

10,657,620

8,308,796

(e)

Organon

&

Co,

Term

Loan,

(TSFR1M

+

2.250%)

5.923

05/19/31

8,054,380

22,128,917

(e)

Parexel

International

Corporation,

Repriced

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

12/12/31

21,900,768

2,356,777

(e)

Perrigo

Investments,

LLC,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

04/20/29

2,360,713

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

91,972,539

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0.5%

8,424,511

(e)

Cushman

&

Wakefield

U.S.

Borrower,

LLC,

Term

Loan,

(TSFR1M

+

2.500%)

6.173

01/31/30

8,456,103

1,667,681

(e)

Cushman

&

Wakefield

U.S.

Borrower,

LLC,

Term

Loan

B3,

(TSFR1M

+

2.750%)

6.423

01/31/30

1,673,934

392,000

(e)

Learning

Care

Group

(US)

No.

2

Inc.,

Term

Loan

B,

(TSFR3M

+

4.000%)

7.661

08/11/28

311,082

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

10,441,119

Portfolio

of

Investments

February

28,

2026

(continued)

Floating

Rate

Income

32

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.6%

$

11,987,110

(e)

Instructure

Holdings,

Inc.,

Repriced

Term

Loan,

(TSFR3M

+

2.750%)

6.411

%

11/13/31

$

11,382,780

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

11,382,780

SOFTWARE

&

SERVICES

-

10.5%

2,601,636

(e),(f)

Ahead

DB

Holdings,

LLC,

Term

Loan

B3,

(TSFR3M

+

2.500%)

6.172

02/03/31

2,538,832

2,124,841

(e)

Asurion

LLC,

Second

Lien

Term

Loan

B4,

(TSFR1M

+

5.250%)

9.037

01/22/29

2,129,665

4,478,337

(e)

Avalara,

Inc,

Term

Loan,

(TSFR3M

+

2.750%)

6.422

03/29/32

4,176,049

3,264,906

(e)

Avaya,

Inc.,

Exit

Term

Loan,

(TSFR1M

+

7.500%),

(cash

11.173%,

PIK

7.500%)

11.173

08/01/28

2,988,744

3,962,544

(e)

BCPE

Pequod

Buyer

Inc,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.417

11/25/31

3,844,916

12,400,758

(e),(f)

Boxer

Parent

Company

Inc.,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.673

07/30/31

11,462,207

550,000

(e)

Clearwater

Analytics,

LLC,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.677

04/21/32

550,688

1,352,851

(e)

Cloud

Software

Group,

Inc.,

Term

Loan

B

(2031),

(TSFR3M

+

3.250%)

6.922

03/24/31

1,260,857

1,857,196

(e)

Cloud

Software

Group,

Inc.,

Term

Loan

B

(2032),

(TSFR3M

+

3.250%)

6.922

08/13/32

1,729,050

4,895,575

(e)

Cotiviti

Corporation,

2nd

Amendment

Term

Loan,

(TSFR1M

+

2.750%)

6.421

03/29/32

4,352,485

3,947,299

(e)

Cotiviti

Corporation,

Term

Loan,

(TSFR1M

+

2.750%)

6.421

05/01/31

3,511,853

13,105,379

(e)

Darktrace

PLC,

First

Lien

Term

Loan,

(TSFR3M

+

3.250%)

6.898

10/09/31

12,487,526

6,654,858

(e)

Ellucian

Holdings,

Inc.,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

10/09/29

6,457,608

945,000

(e),(h)

EP

Purchaser

LLC,

(TBD)

TBD

TBD

492,345

548,000

(e),(h)

EP

Purchaser

LLC,

(TBD)

TBD

TBD

288,388

11,941,398

(e)

Epicor

Software

Corporation,

Term

Loan

E,

(TSFR1M

+

2.500%)

6.173

05/30/31

11,613,010

1,461,462

(e)

Fortress

Intermediate

3,

Inc,

Term

Loan

B,

(TSFR1M

+

3.000%)

6.668

06/27/31

1,424,925

24,189,785

(e)

Genesys

Cloud

Services

Holdings

II

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/30/32

22,339,266

5,200,076

(e)

Javelin

Buyer,

Inc.,

Term

Loan,

(TSFR3M

+

2.750%)

6.417

12/08/31

4,868,571

3,956,437

(e)

Kaseya

Inc.,

First

Lien

Term

Loan

B,

(TSFR1M

+

3.000%)

6.923

03/22/32

3,598,933

11,521,654

(e)

McAfee,

LLC,

First

Lien

Term

Loan

B,

(TSFR1M

+

3.000%)

6.673

03/01/29

10,102,014

12,405,123

(e)

Mitchell

International,

Inc.,

Term

Loan,

(TSFR1M

+

3.000%)

6.673

06/17/31

11,513,566

4,893,048

(e)

Open

Text

Corporation,

Term

Loan

B,

(TSFR1M

+

1.750%)

5.423

01/31/30

4,770,721

13,960,181

(e)

Peraton

Corp.,

Term

Loan

B,

(TSFR3M

+

3.750%)

7.517

02/01/28

12,005,756

1,413,729

(e)

Perforce

Software,

Inc.,

Add-on

Term

Loan,

(TSFR1M

+

4.750%)

8.423

03/24/31

1,044,625

2,383,900

(e)

PointClickCare

Technologies,

Inc.,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.422

11/03/31

2,369,013

7,595,028

(e)

Press

Ganey

Holdings,

Inc.,

Repriced

Term

Loan

B,

(TSFR1M

+

3.000%)

6.673

04/30/31

7,590,281

5,101,452

(e)

Proofpoint,

Inc.,

Repriced

Term

Loan,

(TSFR3M

+

3.000%)

6.672

08/31/28

4,898,184

3,675,436

(e)

Rackspace

Finance,

LLC,

First

Lien

First

Out

Term

Loan,

(TSFR1M

+

6.250%)

10.029

05/15/28

3,665,733

6,694,462

(e),(f)

Rackspace

Finance,

LLC,

First

Lien

Second

Out

Term

Loan,

(TSFR1M

+

2.750%)

6.529

05/15/28

2,800,528

3,456,848

(e)

Rocket

Software,

Inc.,

Term

Loan

B,

(TSFR1M

+

3.750%)

7.423

11/28/28

3,224,963

1,494,304

(e)

SS&C

Technologies

Inc.,

Term

Loan

B8,

(TSFR1M

+

2.000%)

5.673

05/09/31

1,484,337

2,517,382

(e)

Synechron

Inc,

Term

Loan

B,

(TSFR1M

+

3.750%)

7.423

10/03/31

2,334,872

14,965,228

(e)

UKG

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.167

02/10/31

14,205,742

3,577,151

(e)

VS

Buyer,

LLC,

Term

Loan

B,

(TSFR3M

+

2.250%)

5.917

04/14/31

3,471,321

16,871,000

X

Corp,

(TSFR3M

+

6.500%)

10.448

10/29/29

17,727,203

4,964,653

(e)

Zelis

Payments

Buyer,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

09/28/29

4,695,941

TOTAL

SOFTWARE

&

SERVICES

210,020,718

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

1.4%

20,045,963

(e)

Delta

TopCo,

Inc.,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.421

11/30/29

18,793,090

1,814,332

(e)

Ingram

Micro

Inc.,

Term

Loan,

(TSFR1M

+

2.250%)

5.917

09/22/31

1,822,279

1,175,000

(e)

PROJECT

AURORA

US

FINCO,

(TSFR1M

+

2.750%)

6.490

12/06/32

1,178,678

387,000

(e),(h)

Sonicwall

US

Holdings

Inc,

(TBD)

TBD

TBD

126,605

334,401

(e)

ViaSat,

Inc.,

Term

Loan,

(TSFR1M

+

4.500%)

8.287

03/05/29

335,281

5,858,874

(e)

ViaSat,

Inc.,

Term

Loan,

(TSFR1M

+

4.500%)

8.292

05/30/30

5,867,310

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

28,123,243

33

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TELECOMMUNICATION

SERVICES

-

4.5%

$

6,576,647

(e)

Cincinnati

Bell,

Inc.,

Term

Loan

B4,

(TSFR1M

+

2.250%)

5.923

%

11/24/28

$

6,574,608

2,521,544

(e)

Connect

Finco

Sarl,

Extended

Term

Loan

B,

(TSFR1M

+

4.500%)

8.173

09/28/29

2,523,119

14,159,000

(e),(f)

Connect

Holding

II

LLC,

Delayed

Draw

Term

Loan,

(TSFR1M

+

4.250%)

7.920

04/03/31

12,862,602

4,797,182

(b),(e)

Cyxtera

DC

Holdings,

Inc.,

Term

Loan

B

0.000

07/16/26

26,385

6,003,000

(e)

Digicel

International

Finance

Limited,

Term

Loan

B,

(TSFR3M

+

5.250%)

9.023

08/09/32

6,034,096

2,260,800

(e)

Iridium

Satellite

LLC,

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

09/20/30

2,183,786

11,458,000

(e),(f)

Level

3

Financing

Inc.,

Repriced

Term

Loan

B4,

(TSFR1M

+

3.250%)

6.923

03/29/32

11,502,400

8,355,000

(e)

Telesat

Canada,

Term

Loan

B5,

(TSFR3M

+

2.750%)

6.684

12/07/26

6,595,980

5,351,000

(e)

Windstream

Services

LLC,

Term

Loan

B,

(TSFR1M

+

4.000%)

7.673

10/06/32

5,364,377

37,240,091

(e),(f)

Zayo

Group

Holdings,

Inc.,

Term

Loan,

(TSFR1M

+

3.000%)

3.644

03/11/30

35,898,517

TOTAL

TELECOMMUNICATION

SERVICES

89,565,870

TRANSPORTATION

-

2.5%

3,144,330

(e)

Air

Canada,

Term

Loan

B,

(TSFR3M

+

1.750%)

5.417

03/21/31

3,146,295

5,848,217

(e),(f)

American

Airlines,

Inc.,

Term

Loan,

(TSFR3M

+

2.250%)

5.918

04/20/28

5,848,217

9,120,988

(e),(f)

Brown

Group

Holding,

LLC,

Incremental

Term

Loan

B2,

(TSFR1M

+

TSFR3M

+

2.500%)

6.171

07/01/31

9,151,772

608,398

(e)

Brown

Group

Holding,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

07/01/31

610,299

2,524,000

(e),(h)

Genesee

&

Wyoming

Inc.

(New),

Term

Loan

B,

(TBD)

TBD

TBD

2,523,281

12,785,662

(e)

KKR

Apple

Bidco,

LLC,

Term

Loan,

(TSFR1M

+

2.500%)

6.173

09/23/31

12,808,421

1,635,910

(e)

PODS,

LLC,

Term

Loan

B,

(TSFR1M

+

3.000%)

6.787

03/31/28

1,626,978

9,455,000

(e)

Stonepeak

Nile

Parent

LLC,

Term

Loan

B,

(TSFR3M

+

2.250%)

5.917

04/09/32

9,450,792

2,993,872

(e)

United

Airlines,

Inc.,

Term

Loan

B,

(TSFR1M

+

1.750%)

5.426

02/24/31

3,001,057

1,090,000

(e),(h)

WestJet

Loyalty

LP,

Term

Loan

B,

(TBD)

TBD

TBD

1,090,098

TOTAL

TRANSPORTATION

49,257,210

UTILITIES

-

2.7%

6,412,224

(e),(f)

Cornerstone

Generation

LLC,

Term

Loan

B,

(TSFR3M

+

3.250%)

6.917

08/11/32

6,438,546

2,433,471

(e),(f)

Hamilton

Projects

Acquiror,

LLC

,

Repriced

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

05/30/31

2,445,444

1,545,746

(e)

Invenergy

Thermal

Operating

I

LLC,

Term

Loan

B,

(SOFR90A

+

2.750%)

6.410

05/06/32

1,563,863

107,659

(e)

Invenergy

Thermal

Operating

I

LLC,

Term

Loan

C,

(SOFR90A

+

2.750%)

6.410

05/06/32

108,921

321,249

(e)

Kestrel

Acquisition,

LLC,

Term

Loan,

(TSFR3M

+

3.000%)

6.672

11/06/31

322,574

2,352,000

(e),(h)

NRG

Energy,

Inc.,

Term

Loan,

(TBD)

TBD

TBD

2,360,561

15,427,317

(e)

Talen

Energy

Supply,

LLC,

Incremental

Term

Loan

B,

(TSFR3M

+

2.500%)

6.153

12/15/31

15,490,955

18,430,326

(e)

Talen

Energy

Supply,

LLC,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.153

05/17/30

18,509,299

7,782,000

(e),(f)

Talen

Energy

Supply,

LLC,

Term

Loan

B,

(TSFR3M

+

2.000%)

5.672

11/26/32

7,810,210

TOTAL

UTILITIES

55,050,373

TOTAL

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

(Cost

$1,734,150,238)

1,708,828,402

SHARES

DESCRIPTION

VALUE

154122

WARRANTS

-

0.0%

154122

TELECOMMUNICATION

SERVICES

-

0.0%

8,465

Windstream

Parent

Inc

61,879

TOTAL

TELECOMMUNICATION

SERVICES

61,879

TRANSPORTATION

-

0.0%

1,071

ACBL

HLDG

CORP

16,065

3,029

ACBL

HLDG

CORP

75,725

11,952

(b)

American

Commercial

Barge

Line

LLC

120

33,319

(b)

American

Commercial

Barge

Line

LLC

333

TOTAL

TRANSPORTATION

92,243

TOTAL

WARRANTS

(Cost

$294,354)

154,122

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$1,993,247,774)

1,949,146,351

Portfolio

of

Investments

February

28,

2026

(continued)

Floating

Rate

Income

34

See

Notes

to

Financial

Statements

Investments

in

Derivatives

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.3%

6,149,517

(j)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.700

%

(k)

$

6,149,517

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$6,149,517)

6,149,517

SHARES

DESCRIPTION

RATE

VALUE

SHORT-TERM

INVESTMENTS

-

 7.5%

INVESTMENT

COMPANIES

-

7.5%

–

151,702,490

BlackRock

Liquidity

Funds

T-Fund

4.517(l)

151,702,490

TOTAL

INVESTMENT

COMPANIES

(Cost

$151,702,490)

151,702,490

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$151,702,490)

151,702,490

TOTAL

INVESTMENTS

-

104.8%

(Cost

$2,151,099,781

)

2,106,998,358

OTHER

ASSETS

&

LIABILITIES,

NET

-  (4.8)%

(97,346,829)

NET

ASSETS

-

100%

$

2,009,651,529

ETF

Exchange-Traded

Fund

PIK

Payment-in-kind

(“PIK”)

security.  Depending

on

the

terms

of

the

security,

income

may

be

received

in

the

form

of

cash,

securities,

or

a

combination

of

both.  The

PIK

rate

shown,

where

applicable,

represents

the

annualized

rate

of

the

last

PIK

payment

made

by

the

issuer

as

of

the

end

of

the

reporting

period.

SOFR30A

30

Day

Average

Secured

Overnight

Financing

Rate

SOFR90A

90

Day

Average

Secured

Overnight

Financing

Rate

SPDR

Standard

&

Poor's

Depositary

Receipt

TBD

Senior

loan

purchased

on

a

when-issued

or

delayed-delivery

basis.

Certain

details

associated

with

this

purchase

are

not

known

prior

to

the

settlement

date

of

the

transaction.

In

addition,

senior

loans

typically

trade

without

accrued

interest

and

therefore

a

coupon

rate

is

not

available

prior

to

settlement.

At

settlement,

if

still

unknown,

the

borrower

or

counterparty

will

provide

the

Fund

with

the

final

coupon

rate

and

maturity

date.

TSFR1M

CME

Term

Secured

Overnight

Financing

Rate

1

Month

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

3

Month

TSFR6M

CME

Term

Secured

Overnight

Financing

Rate

6

Month

(a)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(b)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(c)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$159,133,111

or

7.6%

of

Total

Investments.

(d)

Affiliated

holding

(e)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable.  For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(f)

Portion

of

investment

purchased

on

a

delayed

delivery

basis.

(g)

Investment,

or

portion

of

investment,

represents

an

outstanding

unfunded

senior

loan

commitment.

(h)

When-issued

or

delayed

delivery

security.

(i)

Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(j)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(k)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(l)

The

rate

shown

is

the

annualized

seven-day

subsidized

yield

as

of

end

of

the

reporting

period.

Credit

Default

Swaps

-

Centrally

Cleared

SOLD

Counterparty

Reference

Entity

Fixed

Rate

(Annualized)

Current

Credit

Spread

(a)

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount(b)

Value

Premiums

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Morgan

Stanley

Prime

Brokerage

CDX-NAHYS45V1

5.000

%

3.59

%

Quarterly

12/20/30

$

15,840,000

$

1,226,366

$

1,100,441

$

125,925

Total

$

15,840,000

$

1,226,366

$1,100,441

$

125,925

35

See

Notes

to

Financial

Statements

(a)

The

credit

spread

generally

serves

as

an

indication

of

the

current

status

of

the

payment/performance

risk

and

therefore

the

likelihood

of

default

of

the

credit

derivative.

The

credit

spread

also

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

a

credit

default

swap

contract.

Higher

credit

spreads

are

indicative

of

higher

likelihood

of

performance

by

the

seller

of

protection.

(b)

The

maximum

potential

amount

the

Fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

is

defined

under

the

terms

of

that

particular

swap

agreement.

This

amount

may

be

reduced

by

any

recoverable

assets,

if

applicable.

36

Portfolio

of

Investments

February

28,

2026

High

Yield

Income

See

Notes

to

Financial

Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

-

95.6%

714634

COMMON

STOCKS

-

0

.1

%

714634

TELECOMMUNICATION

SERVICES

-

0.1%

14,262

(a)

Altice

France

Lux

3

$

262,048

24,632

(a)

Altice

France

Lux

3

452,586

TOTAL

TELECOMMUNICATION

SERVICES

714,634

TOTAL

COMMON

STOCKS

(Cost

$659,862)

714,634

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

466105370

CORPORATE

BONDS

-

85

.4

%

(b)

466105370

AUTOMOBILES

&

COMPONENTS

-

2.6%

$

3,000,000

(c)

Dealer

Tire

LLC

/

DT

Issuer

LLC

8

.000

%

02/01/28

2,970,030

2,830,000

(c)

Dornoch

Debt

Merger

Sub

Inc

6

.625

10/15/29

2,556,550

1,200,000

(d)

Goodyear

Tire

&

Rubber

Co/The

5

.250

04/30/31

1,150,651

1,200,000

(c)

IHO

Verwaltungs

GmbH,

(cash

6.375%,

PIK

7.125%)

6

.375

05/15/29

1,215,432

1,000,000

(c)

IHO

Verwaltungs

GmbH

8

.000

11/15/32

1,066,717

1,800,000

(c)

Nissan

Motor

Acceptance

Co

LLC

5

.625

09/29/28

1,811,594

2,350,000

(c)

Phinia

Inc

6

.625

10/15/32

2,439,688

895,000

(c)

ZF

North

America

Capital

Inc

7

.500

03/24/31

922,400

TOTAL

AUTOMOBILES

&

COMPONENTS

14,133,062

CAPITAL

GOODS

-

5.8%

4,200,000

(c)

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

7

.000

05/21/30

4,398,463

2,275,000

(c),(d)

Alta

Equipment

Group

Inc

9

.000

06/01/29

2,148,073

500,000

(c)

Camelot

Return

Merger

Sub

Inc

8

.750

08/01/28

377,506

2,200,000

(c)

Columbus

McKinnon

Corp/NY

7

.125

01/31/33

2,261,732

369,673

(c)

CP

Atlas

Buyer

Inc,

(cash

7.000%,

PIK

5.750%)

12

.750

01/15/31

331,956

1,355,000

(c)

Goat

Holdco

LLC

6

.750

02/01/32

1,400,248

1,275,000

(c)

Herc

Holdings

Inc

7

.000

06/15/30

1,336,094

1,250,000

(c)

Herc

Holdings

Inc

5

.750

03/15/31

1,267,151

1,000,000

(c)

JH

North

America

Holdings

Inc

5

.875

01/31/31

1,021,312

925,000

(c)

Lsf12

Helix

Parent

LLC

7

.125

02/01/33

928,592

1,750,000

(c)

Masterbrand

Inc

7

.000

07/15/32

1,761,258

1,480,000

(c)

New

Flyer

Holdings

Inc

9

.250

07/01/30

1,597,543

2,440,000

(c)

Quikrete

Holdings

Inc

6

.375

03/01/32

2,535,887

1,750,000

(c)

Standard

Building

Solutions

Inc

6

.500

08/15/32

1,801,338

1,500,000

(c)

Terex

Corp

6

.250

10/15/32

1,544,802

2,100,000

(c)

TransDigm

Inc

6

.875

12/15/30

2,185,581

2,000,000

(c)

TransDigm

Inc

6

.000

01/15/33

2,035,378

1,500,000

(c)

TransDigm

Inc

6

.375

05/31/33

1,530,949

1,350,000

(c)

TransDigm

Inc

6

.125

07/31/34

1,371,243

TOTAL

CAPITAL

GOODS

31,835,106

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1.9%

1,800,000

(c)

Allied

Universal

Holdco

LLC

7

.875

02/15/31

1,901,715

1,565,000

(c)

CACI

International

Inc

6

.375

06/15/33

1,611,156

1,200,000

(c)

Garda

World

Security

Corp

8

.375

11/15/32

1,229,035

1,595,000

(c)

GFL

Environmental

Holdings

US

Inc

5

.500

02/01/34

1,600,737

1,700,000

(c)

Neptune

Bidco

US

Inc

9

.290

04/15/29

1,703,332

2,250,000

(c)

RR

Donnelley

&

Sons

Co

9

.500

08/01/29

2,318,465

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

10,364,440

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

3.6%

3,000,000

(c)

Cougar

JV

Subsidiary

LLC

8

.000

05/15/32

3,195,138

640,000

(c)

Gee

Automotive

Holdings

LLC

7

.250

03/01/31

650,531

2,000,000

(c)

Kohl's

Corp

10

.000

06/01/30

2,177,244

1,700,000

(c),(d)

LBM

Acquisition

LLC

6

.250

01/15/29

1,296,118

1,500,000

(c)

Michaels

Cos

Inc/The

7

.875

05/01/29

1,506,751

990,000

(c),(e)

Michaels

Cos

Inc/The

11

.000

03/15/34

925,316

1,525,000

(c),(e)

Michaels

Cos

Inc/The

8

.500

03/15/33

1,483,375

1,600,000

Nordstrom

Inc

4

.250

08/01/31

1,490,948

1,150,000

(c)

Park

River

Holdings

Inc

8

.000

03/15/31

1,157,375

1,250,000

(c)

PetSmart

Inc

/

PetSmart

Finance

Corp

10

.000

09/15/33

1,253,565

37

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

(continued)

$

2,000,000

(c)

QXO

Building

Products

Inc

6

.750

%

04/30/32

$

2,071,432

2,150,000

(c)

Veritiv

Operating

Co

10

.500

11/30/30

2,300,436

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

19,508,229

CONSUMER

DURABLES

&

APPAREL

-

1.2%

2,529,716

(c)

Beach

Acquisition

Bidco

LLC,

(cash

10.00%,

PIK

10.750%)

10

.000

07/15/33

2,795,343

1,520,000

(c)

CD&R

Smokey

Buyer

Inc

/

Radio

Systems

Corp

9

.500

10/15/29

1,247,643

745,000

(c)

Installed

Building

Products

Inc

5

.625

02/01/34

754,887

1,000,000

(c)

Newell

Brands

Inc

8

.500

06/01/28

1,052,602

1,000,000

(c)

S&S

Holdings

LLC

8

.375

10/01/31

937,214

TOTAL

CONSUMER

DURABLES

&

APPAREL

6,787,689

CONSUMER

SERVICES

-

4.8%

1,500,000

(c)

Caesars

Entertainment

Inc

7

.000

02/15/30

1,537,858

1,800,000

(c)

Carnival

Corp

5

.875

06/15/31

1,881,040

2,500,000

(c)

Churchill

Downs

Inc

5

.750

04/01/30

2,520,007

2,690,000

(c)

Life

Time

Inc

6

.000

11/15/31

2,770,724

1,000,000

(c)

Marriott

Ownership

Resorts

Inc

6

.500

10/01/33

969,633

500,000

(c)

Merlin

Entertainments

Group

US

Holdings

Inc

7

.375

02/15/31

412,524

1,500,000

MGM

Resorts

International

6

.125

09/15/29

1,541,674

1,200,000

(c),(d)

Motion

Bondco

DAC

6

.625

11/15/27

1,132,729

2,500,000

(c)

NCL

Corp

Ltd

6

.750

02/01/32

2,574,588

500,000

Six

Flags

Entertainment

Corp

7

.250

05/15/31

490,743

2,250,000

Six

Flags

Entertainment

Corp

/

Canada's

Wonderland

Co

/

Magnum

Management

Corp

6

.500

10/01/28

2,251,874

540,000

(c)

SIX

FLAGS/CAN

WON/MILLEN

8

.625

01/15/32

546,747

1,500,000

(c)

Travel

+

Leisure

Co

6

.125

09/01/33

1,524,699

1,300,000

(c)

Vail

Resorts

Inc

5

.625

07/15/30

1,322,945

2,000,000

(c)

Viking

Ocean

Cruises

Ship

VII

Ltd

5

.625

02/15/29

1,998,358

1,200,000

(c)

Voyager

Parent

LLC

9

.250

07/01/32

1,281,385

1,525,000

(c)

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

6

.250

03/15/33

1,557,388

TOTAL

CONSUMER

SERVICES

26,314,916

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

0.6%

3,000,000

(c)

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

4

.875

02/15/30

2,975,243

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

2,975,243

ENERGY

-

12.2%

1,875,000

(c)

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5

.750

10/15/33

1,903,408

1,500,000

(c)

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6

.625

09/01/32

1,560,963

2,145,000

(c)

ARCHROCK

SERVICES/PARTNE

6

.000

02/01/34

2,171,778

1,155,000

(c)

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

6

.625

07/15/33

1,198,528

853,659

(c)

Borr

IHC

Ltd

/

Borr

Finance

LLC

10

.000

11/15/28

889,143

1,515,000

(c)

Bristow

Group

Inc

6

.750

02/01/33

1,537,234

1,000,000

Buckeye

Partners

LP

5

.850

11/15/43

942,185

845,000

(c)

Chord

Energy

Corp

6

.000

10/01/30

863,168

750,000

(c)

Chord

Energy

Corp

6

.750

03/15/33

778,946

2,000,000

(c)

CITGO

Petroleum

Corp

8

.375

01/15/29

2,073,938

3,335,000

(c)

CNX

Resources

Corp

7

.250

03/01/32

3,497,064

500,000

(c)

CNX

Resources

Corp

5

.875

03/01/34

500,914

2,500,000

(c)

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

5

.500

06/15/31

2,493,186

865,000

(c)

CVR

Energy

Inc

7

.500

02/15/31

862,068

457,000

(c)

CVR

Energy

Inc

5

.750

02/15/28

456,179

1,000,000

(c)

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp

8

.625

03/15/29

1,044,156

1,175,000

(c)

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp

7

.375

06/30/33

1,215,305

2,560,000

(c)

Global

Partners

LP

/

GLP

Finance

Corp

8

.250

01/15/32

2,704,589

1,890,000

(c)

Harvest

Midstream

I

LP

7

.500

05/15/32

1,961,788

1,800,000

(c)

ITT

Holdings

LLC

6

.500

08/01/29

1,748,703

2,300,000

(c)

Kinetik

Holdings

LP

6

.625

12/15/28

2,371,116

2,500,000

(c)

Kodiak

Gas

Services

LLC

6

.500

10/01/33

2,578,052

520,000

(c)

Matador

Resources

Co

6

.000

04/15/34

519,373

1,100,000

(c)

Matador

Resources

Co

6

.250

04/15/33

1,119,515

1,500,000

(c)

Moss

Creek

Resources

Holdings

Inc

8

.250

09/01/31

1,478,168

Portfolio

of

Investments

February

28,

2026

(continued)

High

Yield

Income

38

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ENERGY

(continued)

$

2,580,000

(c)

Noble

Finance

II

LLC

8

.000

%

04/15/30

$

2,685,316

1,150,000

PBF

Holding

Co

LLC

/

PBF

Finance

Corp

6

.000

02/15/28

1,145,200

1,100,000

(c)

Rockies

Express

Pipeline

LLC

6

.750

03/15/33

1,158,766

1,500,000

(c)

SM

Energy

Co

8

.625

11/01/30

1,587,522

3,500,000

(f)

South

Bow

Canadian

Infrastructure

Holdings

Ltd

7

.625

03/01/55

3,647,196

2,800,000

(c)

Sunoco

LP

6

.250

07/01/33

2,883,793

1,500,000

(c)

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp

6

.000

09/01/31

1,515,947

1,275,000

(c)

Transocean

International

Ltd

7

.875

10/15/32

1,368,985

2,000,000

(c)

Venture

Global

Calcasieu

Pass

LLC

3

.875

11/01/33

1,780,037

2,000,000

(c)

Venture

Global

LNG

Inc

9

.875

02/01/32

2,118,878

670,000

(c),(d)

Venture

Global

LNG

Inc

7

.000

01/15/30

679,617

1,000,000

(c),(f),(g)

Venture

Global

LNG

Inc

9

.000

N/A

874,576

1,525,000

(c)

Venture

Global

Plaquemines

LNG

LLC

6

.500

01/15/34

1,604,939

1,500,000

(c)

Venture

Global

Plaquemines

LNG

LLC

6

.750

01/15/36

1,597,817

610,000

(c)

Venture

Global

Plaquemines

LNG

LLC

6

.125

12/15/30

633,673

1,500,000

(c)

Venture

Global

Plaquemines

LNG

LLC

6

.500

06/15/34

1,574,942

1,000,000

(c)

Weatherford

International

Ltd

6

.750

10/15/33

1,045,484

TOTAL

ENERGY

66,372,155

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

4.2%

2,055,000

(c)

Diversified

Healthcare

Trust

7

.250

10/15/30

2,136,966

3,185,000

(c)

Iron

Mountain

Inc

6

.250

01/15/33

3,254,459

2,670,000

(c)

Millrose

Properties

Inc

6

.375

08/01/30

2,739,153

2,000,000

(c)

Millrose

Properties

Inc

6

.250

09/15/32

2,025,086

3,250,000

(d)

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

5

.000

10/15/27

3,184,360

2,470,000

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

3

.500

03/15/31

1,888,908

2,145,000

(c)

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

8

.500

02/15/32

2,295,746

2,000,000

(c)

Office

Properties

Income

Trust

9

.000

03/31/29

2,032,580

1,860,000

(c)

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

6

.500

04/01/32

1,924,685

695,000

(c),(e)

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

5

.750

03/15/34

700,071

1,000,000

(c)

Uniti

Group

LP

/

Uniti

Group

Finance

2019

Inc

/

CSL

Capital

LLC

6

.500

02/15/29

972,582

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

23,154,596

FINANCIAL

SERVICES

-

8.2%

2,800,000

(c)

Azorra

Finance

Ltd

7

.750

04/15/30

2,940,773

1,280,000

(c)

Azorra

Finance

Ltd

7

.250

01/15/31

1,335,927

1,000,000

Block

Inc

6

.500

05/15/32

1,028,759

2,300,000

(c)

Burford

Capital

Global

Finance

LLC

6

.250

04/15/28

2,287,068

585,000

(c)

Burford

Capital

Global

Finance

LLC

8

.500

01/15/34

573,408

2,058,741

(c)

Compass

Group

Diversified

Holdings

LLC

5

.250

04/15/29

1,927,084

3,500,000

(c)

Encore

Capital

Group

Inc

6

.625

04/15/31

3,553,900

2,200,000

(f)

HA

Sustainable

Infrastructure

Capital

Inc

8

.000

06/01/56

2,317,414

600,000

(f)

HA

Sustainable

Infrastructure

Capital

Inc

7

.125

11/15/56

599,835

2,000,000

(c)

Hunt

Cos

Inc

5

.250

04/15/29

1,907,624

4,000,000

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

5

.250

05/15/27

3,939,801

1,380,000

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

9

.000

06/15/30

1,312,680

2,525,000

(c)

Jane

Street

Group

/

JSG

Finance

Inc

6

.125

11/01/32

2,540,077

1,145,000

OneMain

Finance

Corp

6

.125

05/15/30

1,148,416

2,800,000

OneMain

Finance

Corp

5

.375

11/15/29

2,768,246

1,165,000

(c)

Osaic

Holdings

Inc

6

.750

08/01/32

1,175,625

1,600,000

(c)

PennyMac

Financial

Services

Inc

6

.875

05/15/32

1,609,154

4,365,000

(c)

Starwood

Property

Trust

Inc

6

.000

04/15/30

4,466,128

4,000,000

(c)

Stonex

Escrow

Issuer

LLC

6

.875

07/15/32

4,150,924

2,725,000

(c),(g),(h)

UBS

Group

AG

6

.600

N/A

2,741,312

600,000

(c)

WEX

Inc

6

.500

03/15/33

603,022

TOTAL

FINANCIAL

SERVICES

44,927,177

FOOD,

BEVERAGE

&

TOBACCO

-

0.7%

1,750,000

(c)

Post

Holdings

Inc

6

.375

03/01/33

1,781,293

2,000,000

(c)

Viking

Baked

Goods

Acquisition

Corp

8

.625

11/01/31

2,024,596

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

3,805,889

39

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

4.0%

$

1,600,000

(c)

CHS/Community

Health

Systems

Inc

10

.875

%

01/15/32

$

1,733,962

2,170,000

(c)

DaVita

Inc

4

.625

06/01/30

2,124,270

1,500,000

(c),(d)

Embecta

Corp

5

.000

02/15/30

1,409,840

2,070,000

(c)

Global

Medical

Response

Inc

7

.375

10/01/32

2,167,042

900,000

(c)

LifePoint

Health

Inc

8

.375

02/15/32

974,373

3,500,000

(c)

Molina

Healthcare

Inc

6

.250

01/15/33

3,443,006

875,000

(c)

Molina

Healthcare

Inc

6

.500

02/15/31

877,796

1,375,000

(c)

National

Mentor

Holdings

Inc

10

.500

12/15/30

1,369,931

2,000,000

(c)

Prime

Healthcare

Services

Inc

9

.375

09/01/29

2,089,065

226,548

(c)

Radiology

Partners

Inc,

(cash

9.781%,

PIK

9.781%)

9

.781

02/15/30

211,822

1,690,000

(c)

Radiology

Partners

Inc

8

.500

07/15/32

1,740,159

2,070,000

(c)

Team

Health

Holdings

Inc

8

.375

06/30/28

2,083,739

425,000

(c)

Tenet

Healthcare

Corp

6

.000

11/15/33

439,208

1,200,000

(c)

US

Acute

Care

Solutions

LLC

9

.750

05/15/29

1,200,374

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

21,864,587

INSURANCE

-

4.4%

2,650,000

(c)

Acrisure

LLC

/

Acrisure

Finance

Inc

6

.750

07/01/32

2,598,982

4,080,000

(c)

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

6

.500

10/01/31

4,102,394

2,140,000

(c)

APH

Somerset

Investor

2

LLC

/

APH2

Somerset

Investor

2

LLC

/

APH3

Somerset

Inves

7

.875

11/01/29

2,073,275

2,995,000

(c)

Ardonagh

Finco

Ltd

7

.750

02/15/31

3,066,746

1,200,000

(c)

Ardonagh

Group

Finance

Ltd

8

.875

02/15/32

1,184,365

835,000

(c)

ASURION

LLC/ASURION

CO

8

.000

12/31/32

877,007

4,000,000

(c)

ASURION

LLC/ASURION

CO

8

.375

02/01/34

3,980,666

2,000,000

(c)

HUB

International

Ltd

5

.625

12/01/29

1,968,933

1,200,000

(c)

HUB

International

Ltd

7

.375

01/31/32

1,221,390

3,000,000

(c)

Panther

Escrow

Issuer

LLC

7

.125

06/01/31

3,052,038

TOTAL

INSURANCE

24,125,796

MATERIALS

-

3.6%

2,135,000

(c)

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

6

.250

01/30/31

2,185,202

2,000,000

Celanese

US

Holdings

LLC

7

.050

11/15/30

2,132,388

1,500,000

(c)

Cleveland-Cliffs

Inc

6

.875

11/01/29

1,545,022

1,500,000

(c)

Clydesdale

Acquisition

Holdings

Inc

8

.750

04/15/30

1,493,388

1,245,000

(c)

Compass

Minerals

International

Inc

8

.000

07/01/30

1,313,537

1,500,000

(c)

Crown

Americas

LLC

5

.875

06/01/33

1,541,142

1,000,000

(d)

Huntsman

International

LLC

5

.700

10/15/34

956,577

1,500,000

(c)

Methanex

US

Operations

Inc

6

.250

03/15/32

1,552,505

860,000

(c)

Mineral

Resources

Ltd

7

.000

04/01/31

904,500

1,000,000

(c)

Olin

Corp

6

.625

04/01/33

976,471

1,240,000

(c)

Olympus

Water

US

Holding

Corp

6

.750

08/01/32

1,220,669

1,325,000

(c)

Qnity

Electronics

Inc

6

.250

08/15/33

1,375,747

1,000,000

(c)

WR

Grace

Holdings

LLC

5

.625

08/15/29

957,937

1,500,000

(c)

WR

Grace

Holdings

LLC

6

.625

08/15/32

1,517,441

TOTAL

MATERIALS

19,672,526

MEDIA

&

ENTERTAINMENT

-

6.5%

1,715,000

(c)

Advantage

Sales

&

Marketing

Inc

6

.500

11/15/28

1,406,300

3,000,000

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp,

Reg

S

4

.250

02/01/31

2,796,301

3,000,000

(c)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4

.500

08/15/30

2,861,482

1,125,000

(c),(d)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4

.750

02/01/32

1,046,167

1,500,000

(c)

Clear

Channel

Outdoor

Holdings

Inc

7

.750

04/15/28

1,511,904

300,000

(c)

CSC

Holdings

LLC

5

.500

04/15/27

254,351

1,000,000

(c)

CSC

Holdings

LLC

5

.750

01/15/30

386,364

2,500,000

(c)

CSC

Holdings

LLC

4

.125

12/01/30

1,525,176

750,000

(c)

CSC

Holdings

LLC

11

.250

05/15/28

594,203

1,000,000

(c)

Directv

Financing

LLC

8

.875

02/01/30

1,001,153

1,715,000

(c)

Directv

Financing

LLC

8

.875

02/01/30

1,715,589

2,500,000

Discovery

Global

Holdings

Inc

4

.054

03/15/29

2,473,425

1,000,000

Discovery

Global

Holdings

Inc

4

.279

03/15/32

918,750

1,000,000

DISH

DBS

Corp

5

.125

06/01/29

893,033

1,000,000

(c)

Gray

Media

Inc

7

.250

08/15/33

1,032,602

Portfolio

of

Investments

February

28,

2026

(continued)

High

Yield

Income

40

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MEDIA

&

ENTERTAINMENT

(continued)

$

1,000,000

(c)

iHeartCommunications

Inc

4

.750

%

01/15/28

$

894,580

750,000

(c)

LCPR

Senior

Secured

Financing

DAC

6

.750

10/15/27

525,300

2,400,000

(c)

McGraw-Hill

Education

Inc

7

.375

09/01/31

2,452,423

825,000

(c)

Neptune

Bidco

US

Inc

10

.375

05/15/31

832,676

500,000

(c)

Neptune

Bidco

US

Inc

9

.500

02/15/33

489,395

1,500,000

(c)

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

4

.250

01/15/29

1,471,785

2,000,000

(c)

Sirius

XM

Radio

LLC

4

.125

07/01/30

1,885,161

2,000,000

(c)

Univision

Communications

Inc

8

.000

08/15/28

2,054,406

3,000,000

(c)

Univision

Communications

Inc

7

.375

06/30/30

3,000,058

1,125,000

(c)

Univision

Communications

Inc

9

.375

08/01/32

1,190,437

TOTAL

MEDIA

&

ENTERTAINMENT

35,213,021

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

2.7%

2,469,000

(c)

1261229

BC

Ltd

10

.000

04/15/32

2,553,274

3,000,000

(c),(d)

Bausch

Health

Americas

Inc

8

.500

01/31/27

2,973,008

1,000,000

(c)

Bausch

Health

Cos

Inc

5

.250

02/15/31

652,500

296,000

(c)

Bausch

Health

Cos

Inc

4

.875

06/01/28

275,467

407,000

(c)

Bausch

Health

Cos

Inc

11

.000

09/30/28

425,563

1,250,000

(c)

Charles

River

Laboratories

International

Inc

4

.000

03/15/31

1,180,190

1,500,000

(c)

Emergent

BioSolutions

Inc

3

.875

08/15/28

1,311,561

2,020,000

(c)

GENMAB

A/S/GENMAB

FIN

7

.250

12/15/33

2,143,495

1,000,000

(c)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

7

.875

05/15/34

931,962

1,500,000

(c)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

4

.125

04/30/28

1,472,498

1,170,000

(c)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

5

.125

04/30/31

1,039,668

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

14,959,186

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

1.2%

2,592,400

(c)

Anywhere

Real

Estate

Group

LLC

/

Anywhere

Co-Issuer

Corp

7

.000

04/15/30

2,620,512

1,000,000

Kennedy-Wilson

Inc

4

.750

03/01/29

985,327

1,800,000

(d)

Kennedy-Wilson

Inc

5

.000

03/01/31

1,744,866

1,000,000

(c)

Permian

Resources

Operating

LLC

6

.250

02/01/33

1,035,482

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

6,386,187

SOFTWARE

&

SERVICES

-

2.0%

2,000,000

(c)

Amentum

Holdings

Inc

7

.250

08/01/32

2,095,668

1,775,000

(c)

Cloud

Software

Group

Inc

8

.250

06/30/32

1,776,487

2,250,000

(c)

Cloud

Software

Group

Inc

6

.500

03/31/29

2,206,523

1,100,000

(c)

CoreWeave

Inc

9

.000

02/01/31

1,061,353

1,000,000

(c)

Gen

Digital

Inc

6

.250

04/01/33

995,192

600,000

(c)

McAfee

Corp

7

.375

02/15/30

490,917

500,000

(c)

Open

Text

Holdings

Inc

4

.125

12/01/31

436,748

1,500,000

X.AI

LLC

/

X.AI

Co

Issuer

Corp

12

.500

06/30/30

1,708,368

TOTAL

SOFTWARE

&

SERVICES

10,771,256

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.2%

1,350,000

(c)

Imola

Merger

Corp

4

.750

05/15/29

1,327,125

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

1,327,125

TELECOMMUNICATION

SERVICES

-

7.3%

1,000,000

(c)

Altice

France

Lux

3

/

Altice

Holdings

1

10

.000

01/15/33

939,713

2,400,917

(c)

Altice

France

SA

6

.500

04/15/32

2,299,373

1,100,000

(c)

APLD

COMPUTECO

LLC

9

.250

12/15/30

1,154,551

835,000

(c)

Black

Pearl

Compute

LLC

6

.125

02/15/31

854,582

1,120,000

(c)

Cipher

Compute

LLC

7

.125

11/15/30

1,167,425

1,500,000

(c)

Connect

Holding

II

LLC

10

.500

04/03/31

1,450,556

1,460,000

(c)

Digicel

International

Finance

Ltd

/

Difl

US

LLC

8

.625

08/01/32

1,516,807

2,000,000

(c)

Level

3

Financing

Inc

7

.000

03/31/34

2,079,089

2,200,000

(c)

Level

3

Financing

Inc

8

.500

01/15/36

2,290,639

1,200,000

(c)

Level

3

Financing

Inc

6

.875

06/30/33

1,242,810

1,500,000

(c)

Lumen

Technologies

Inc

4

.500

01/15/29

1,427,872

3,500,000

(f)

Rogers

Communications

Inc

7

.000

04/15/55

3,660,577

2,590,000

(c)

Sable

International

Finance

Ltd

7

.125

10/15/32

2,622,302

775,000

(c)

SV

RNO

Property

Owner

1

LLC

5

.875

03/01/31

778,472

295,000

(c)

Telesat

Canada

/

Telesat

LLC

5

.625

12/06/26

231,589

1,600,000

(c)

Uniti

Group

LP

/

Uniti

Group

Finance

2019

Inc

/

CSL

Capital

LLC

8

.625

06/15/32

1,622,731

41

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TELECOMMUNICATION

SERVICES

(continued)

$

2,400,000

(c)

Virgin

Media

Secured

Finance

PLC

4

.500

%

08/15/30

$

2,187,738

2,720,000

(c)

Windstream

Services

LLC

/

Windstream

Escrow

Finance

Corp

8

.250

10/01/31

2,863,711

1,750,000

(c)

WULF

COMPUTE

LLC

7

.750

10/15/30

1,853,275

6,405,666

(c)

Zayo

Group

Holdings

Inc

9

.250

03/09/30

6,245,412

1,727,082

(c)

Zayo

Group

Holdings

Inc

13

.750

09/09/30

1,563,009

TOTAL

TELECOMMUNICATION

SERVICES

40,052,233

TRANSPORTATION

-

1.5%

1,388,000

(c)

Allegiant

Travel

Co

7

.250

08/15/27

1,400,878

500,000

(c)

Genesee

&

Wyoming

Inc

6

.250

04/15/32

515,368

1,600,000

(c),(d)

Grupo

Aeromexico

SAB

de

CV

8

.625

11/15/31

1,642,000

1,500,000

(c)

Stonepeak

Nile

Parent

LLC

7

.250

03/15/32

1,591,834

1,165,000

United

Airlines

Holdings

Inc

5

.375

03/01/31

1,187,787

1,595,000

(c)

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding

Inc

9

.500

06/01/28

1,645,096

TOTAL

TRANSPORTATION

7,982,963

UTILITIES

-

6.2%

890,000

(c)

Alpha

Generation

LLC

6

.250

01/15/34

903,801

5,000,000

(c),(f)

AltaGas

Ltd

7

.200

10/15/54

5,224,060

2,775,000

(c)

California

Buyer

Ltd

/

Atlantica

Sustainable

Infrastructure

PLC

6

.375

02/15/32

2,766,833

1,500,000

(c)

Clearway

Energy

Operating

LLC

5

.750

01/15/34

1,519,765

4,000,000

(c)

ContourGlobal

Power

Holdings

SA

6

.750

02/28/30

4,120,000

2,500,000

(c)

Ferrellgas

LP

/

Ferrellgas

Finance

Corp

5

.875

04/01/29

2,416,766

1,500,000

(c)

NRG

Energy

Inc

5

.250

06/15/29

1,505,234

1,690,000

(c)

NRG

Energy

Inc

6

.000

02/01/33

1,730,921

2,000,000

(c)

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations

Inc

4

.500

08/15/28

1,976,829

1,500,000

(c)

Talen

Energy

Supply

LLC

6

.250

02/01/34

1,526,392

2,000,000

(c)

TerraForm

Power

Operating

LLC

4

.750

01/15/30

1,955,262

1,140,000

(c)

VoltaGrid

LLC

7

.375

11/01/30

1,190,378

2,500,000

(c)

XPLR

Infrastructure

Operating

Partners

LP

4

.500

09/15/27

2,489,305

3,000,000

(c)

XPLR

Infrastructure

Operating

Partners

LP

7

.250

01/15/29

3,113,853

1,070,000

(c)

XPLR

Infrastructure

Operating

Partners

LP

8

.625

03/15/33

1,132,589

TOTAL

UTILITIES

33,571,988

TOTAL

CORPORATE

BONDS

(Cost

$456,585,517)

466,105,370

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

55085860

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

-

10

.1

%

55085860

CAPITAL

GOODS

-

0.3%

1,280,000

(e),(i)

Conair

Holdings,

LLC,

Term

Loan

B,

(TBD)

TBD

TBD

706,131

1,000,000

(i)

Cornerstone

Building

Brands,

Inc.,

Term

Loan

B,

(TSFR1M

+

3.250%)

7

.010

04/12/28

739,645

TOTAL

CAPITAL

GOODS

1,445,776

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.6%

1,333,750

(i)

Spin

Holdco

Inc.,

First

Lien

First

Out

Term

Loan,

(TSFR1M

+

5.430%)

9

.101

09/04/30

1,367,234

2,492,167

(i)

Spin

Holdco

Inc.,

First

Lien

Second

Out

Term

Loan,

(TSFR1M

+

4.000%)

7

.933

09/04/30

1,954,270

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

3,321,504

CONSUMER

DURABLES

&

APPAREL

-

0.2%

997,382

(i)

S&S

Holdings

LLC,

Term

Loan,

(TSFR1M

+

5.000%)

8

.773

03/13/28

980,551

TOTAL

CONSUMER

DURABLES

&

APPAREL

980,551

CONSUMER

SERVICES

-

0.3%

1,495,399

(i)

Caesars

Entertainment

Inc.,

Term

Loan

B,

(TSFR1M

+

2.250%)

5

.923

02/06/30

1,488,864

TOTAL

CONSUMER

SERVICES

1,488,864

ENERGY

-

0.3%

3,800,000

(e),(i)

New

Fortress

Energy

Inc,

Incremental

Term

Loan

B,

(TBD)

TBD

TBD

1,851,056

TOTAL

ENERGY

1,851,056

Portfolio

of

Investments

February

28,

2026

(continued)

High

Yield

Income

42

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1.2%

$

2,018,737

(i)

Heartland

Dental,

LLC,

Term

Loan,

(TSFR1M

+

3.750%)

7

.423

%

08/25/32

$

2,016,900

4,477,500

(i)

Team

Health

Holdings,

Inc.,

Repriced

Term

Loan

B,

(TSFR3M

+

4.000%)

7

.661

06/30/28

4,480,298

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

6,497,198

INSURANCE

-

0.5%

2,984,655

(i)

Asurion

LLC,

Term

Loan

B11,

(TSFR1M

+

4.250%)

8

.023

08/21/28

2,988,147

TOTAL

INSURANCE

2,988,147

MATERIALS

-

0.5%

1,500,000

(i)

Clydesdale

Acquisition

Holdings

Inc,

Term

Loan

B,

(TSFR1M

+

3.175%)

6

.848

04/13/29

1,489,853

1,500,000

(e),(i)

Sparta

US

HoldCo

LLC,

(TBD)

TBD

TBD

1,499,325

TOTAL

MATERIALS

2,989,178

MEDIA

&

ENTERTAINMENT

-

3.2%

750,066

(i)

Altice

France

S.A.,

Term

Loan

B11,

(TSFR3M

+

4.125%)

7

.797

04/28/28

747,254

1,507,748

(i)

Altice

France

S.A.,

Term

Loan

B12,

(TSFR3M

+

5.063%)

8

.735

10/31/28

1,505,237

1,875,166

(i)

Altice

France

S.A.,

Term

Loan

B13,

(TSFR3M

+

5.375%)

9

.047

05/14/29

1,871,650

1,262,687

(i)

AMC

Entertainment

Holdings,

Inc.

,

Term

Loan,

(TSFR1M

+

7.000%)

10

.667

01/04/29

1,241,941

1,033,832

(i)

E.W.

Scripps

Company

(The),

Term

Loan

B2,

(TSFR1M

+

5.750%)

9

.532

06/30/28

1,047,401

2,002,750

(i)

Radiate

Holdco,

LLC,

FLFO

Term

Loan,

(TSFR1M

+

3.500%),

(cash

7.287%,

PIK

1.500%)

4

.394

09/25/29

1,744,896

4,939,975

(i)

WideOpenWest

Finance

LLC,

Super

Priority

First

Out

New

Money

Term

Loan,

(TSFR3M

+

7.000%)

10

.929

12/20/28

5,028,475

1,300,000

(i)

WideOpenWest

Finance

LLC,

Super

Senior

2nd

Out

Term

Loan,

(TSFR3M

+

3.000%)

6

.929

12/11/28

1,210,625

2,984,655

(i)

X

Corp.,

Term

Loan,

(TSFR3M

+

6.500%)

10

.448

10/29/29

2,996,160

TOTAL

MEDIA

&

ENTERTAINMENT

17,393,639

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.7%

2,493,734

(i)

Bausch

Health

Companies

Inc.,

Term

Loan

B,

(TSFR1M

+

6.250%)

9

.923

10/08/30

2,437,625

1,439,000

(i)

Genmab

AS,

Term

Loan

B,

(TSFR3M

+

3.000%)

6

.706

12/13/32

1,446,641

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

3,884,266

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0.3%

1,492,208

(i)

U.S.

Anesthesia

Partners,

Inc.,

Term

Loan,

(TSFR1M

+

4.000%)

7

.786

10/02/28

1,495,006

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

1,495,006

SOFTWARE

&

SERVICES

-

0.3%

700,000

(e),(i)

Asurion

LLC,

Second

Lien

Term

Loan

B4,

(TBD)

TBD

TBD

701,589

1,000,000

X

Corp,

(TSFR3M

+

6.500%)

10

.448

10/29/29

1,050,750

TOTAL

SOFTWARE

&

SERVICES

1,752,339

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.3%

1,492,366

(i)

ViaSat,

Inc.,

Term

Loan,

(TSFR1M

+

4.500%)

8

.292

05/30/30

1,494,516

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

1,494,516

TELECOMMUNICATION

SERVICES

-

0.9%

1,500,000

(i)

Connect

Holding

II

LLC,

Delayed

Draw

Term

Loan,

(TSFR1M

+

4.250%)

7

.920

04/03/31

1,362,660

1,800,000

(i)

Iridium

Satellite

LLC,

Term

Loan

B,

(TSFR1M

+

2.250%)

5

.923

09/20/30

1,738,683

2,430,000

(i)

Telesat

Canada,

Term

Loan

B5,

(TSFR3M

+

2.750%)

6

.684

12/07/26

1,918,400

TOTAL

TELECOMMUNICATION

SERVICES

5,019,743

UTILITIES

-

0.5%

2,488,731

(i)

Long

Ridge

Energy

LLC,

Term

Loan

B,

(TSFR3M

+

4.500%)

8

.172

02/19/32

2,484,077

TOTAL

UTILITIES

2,484,077

TOTAL

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

(Cost

$54,965,271)

55,085,860

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$512,210,650)

521,905,864

43

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

2.4%

12,769,191

(j)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.700

%

(k)

$

12,769,191

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$12,769,191)

12,769,191

SHARES

DESCRIPTION

RATE

VALUE

SHORT-TERM

INVESTMENTS

-

 3.1%

INVESTMENT

COMPANIES

-

3.1%

–

17,002,700

BlackRock

Liquidity

Funds

T-Fund

4.517(l)

17,002,700

TOTAL

INVESTMENT

COMPANIES

(Cost

$17,002,700)

17,002,700

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$17,002,700)

17,002,700

TOTAL

INVESTMENTS

-

101

.1

%

(Cost

$

541,982,541

)

551,677,755

OTHER

ASSETS

&

LIABILITIES,

NET

-  (1.1)%

(

5,770,733

)

NET

ASSETS

-

100%

$

545,907,022

PIK

Payment-in-kind

(“PIK”)

security.  Depending

on

the

terms

of

the

security,

income

may

be

received

in

the

form

of

cash,

securities,

or

a

combination

of

both.  The

PIK

rate

shown,

where

applicable,

represents

the

annualized

rate

of

the

last

PIK

payment

made

by

the

issuer

as

of

the

end

of

the

reporting

period.

Reg

S

Regulation

S

allows

U.S.

companies

to

sell

securities

to

persons

or

entities

located

outside

of

the

United

States

without

registering

those

securities

with

the

Securities

and

Exchange

Commission.

Specifically,

Regulation

S

provides

a

safe

harbor

from

the

registration

requirements

of

the

Securities

Act

for

the

offers

and

sales

of

securities

by

both

foreign

and

domestic

issuers

that

are

made

outside

the

United

States.

TBD

Senior

loan

purchased

on

a

when-issued

or

delayed-delivery

basis.

Certain

details

associated

with

this

purchase

are

not

known

prior

to

the

settlement

date

of

the

transaction.

In

addition,

senior

loans

typically

trade

without

accrued

interest

and

therefore

a

coupon

rate

is

not

available

prior

to

settlement.

At

settlement,

if

still

unknown,

the

borrower

or

counterparty

will

provide

the

Fund

with

the

final

coupon

rate

and

maturity

date.

TSFR1M

CME

Term

Secured

Overnight

Financing

Rate

1

Month

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

3

Month

(a)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(b)

Contains

$1,000

Par

Preferred

and/or

Contingent

Capital

Securities.

(c)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$415,799,081

or

75.4%

of

Total

Investments.

(d)

Investment,

or

a

portion

of

investment,

is

out

on

loan

for

securities

lending.

The

total

value

of

the

securities

out

on

loan

as

of

the

end

of

the

fiscal

period

was

$12,258,483.

(e)

When-issued

or

delayed

delivery

security.

(f)

$1,000

Par

Institutional

Preferred

security.

As

of

the

end

of

the

period,

the

percent

of

$1,000

Par

Institutional

Preferred

securities

was

3.0%

of

Total

Investments.

(g)

Perpetual

security.

Maturity

date

is

not

applicable.

(h)

Contingent

Capital

Securities

(“CoCos”)

are

debt

or

preferred

securities

with

loss

absorption

characteristics

built

into

the

terms

of

the

security

for

the

benefit

of

the

issuer,

for

example

an

automatic

write-down

of

principal

or

a

mandatory

conversion

into

the

issuer’s

common

stock

under

certain

adverse

circumstances,

such

as

the

issuer’s

capital

ratio

falling

below

a

specified

level.

As

of

the

end

of

the

reporting

period,

the

Fund’s

total

investment

in

CoCos

was

0.5%

of

Total

Investments.

(i)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable.  For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(j)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(k)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(l)

The

rate

shown

is

the

annualized

seven-day

subsidized

yield

as

of

end

of

the

reporting

period.

44

Portfolio

of

Investments

February

28,

2026

Preferred

Securities

and

Income

See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

98.5%

5275864486

CORPORATE

BONDS

-

87.2%

(a)

5275864486

AUTOMOBILES

&

COMPONENTS

-

1.0%

$

43,118,000

(b),(c),(d)

General

Motors

Financial

Co

Inc

5.750

%

N/A

$

43,195,414

16,979,000

(b),(c),(d)

General

Motors

Financial

Co

Inc

5.700

N/A

17,070,992

TOTAL

AUTOMOBILES

&

COMPONENTS

60,266,406

BANKS

-

51.4%

44,883,000

(c),(e)

Banco

Bilbao

Vizcaya

Argentaria

SA

9.375

N/A

49,999,168

21,382,000

(c),(e)

Banco

Bilbao

Vizcaya

Argentaria

SA

6.125

N/A

21,637,707

52,800,000

(b),(c),(e)

Banco

Bilbao

Vizcaya

Argentaria

SA

7.750

N/A

56,686,027

27,655,400

(c),(e),(f)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

8.750

N/A

30,425,503

10,700,000

(c),(e),(f)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

7.500

N/A

11,050,179

16,450,000

(c),(e),(f)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

7.625

N/A

16,920,848

78,000,000

(c),(e)

Banco

Santander

SA

9.625

N/A

94,052,790

85,000,000

(c),(e)

Banco

Santander

SA

8.000

N/A

93,757,380

6,780,000

(c),(d)

Bank

of

America

Corp

4.375

N/A

6,736,033

44,789,000

(c),(d)

Bank

of

America

Corp

6.250

N/A

46,086,185

70,396,000

(c),(d)

Bank

of

America

Corp

6.625

N/A

73,698,206

37,542,000

(d)

Bank

of

Montreal

7.700

05/26/84

39,765,613

29,666,000

(d)

Bank

of

Montreal

6.875

11/26/85

30,598,135

79,372,000

(d)

Bank

of

Montreal

7.300

11/26/84

84,511,258

15,255,000

(d)

Bank

of

Nova

Scotia/The

8.000

01/27/84

16,323,582

51,320,000

(d)

Bank

of

Nova

Scotia/The

6.875

10/27/85

52,987,643

31,020,000

(c),(e)

Barclays

PLC

8.000

N/A

33,076,820

32,101,000

(b),(c),(e)

Barclays

PLC

7.625

N/A

34,084,200

96,433,000

(c),(e)

Barclays

PLC

9.625

N/A

109,327,828

32,326,000

(b),(c),(e),(f)

BNP

Paribas

SA

7.375

N/A

33,956,329

64,127,000

(c),(e),(f)

BNP

Paribas

SA

8.000

N/A

70,041,113

38,013,000

(c),(e),(f)

BNP

Paribas

SA

8.500

N/A

40,635,099

24,811,000

(c),(e),(f)

BNP

Paribas

SA

9.250

N/A

26,504,500

42,213,000

(b),(c),(e),(f)

BNP

Paribas

SA

7.450

N/A

44,595,966

47,866,000

(c),(e),(f)

BNP

Paribas

SA

7.750

N/A

50,948,858

22,350,000

(d)

Canadian

Imperial

Bank

of

Commerce

6.500

07/28/86

22,417,058

41,102,000

(d)

Canadian

Imperial

Bank

of

Commerce

7.000

10/28/85

42,613,444

41,168,000

(d)

Canadian

Imperial

Bank

of

Commerce

6.950

01/28/85

42,570,923

62,359,000

(c),(d)

Citigroup

Inc

6.625

N/A

64,465,558

24,862,000

(c),(d)

Citigroup

Inc

6.875

N/A

25,491,506

13,777,000

(c),(d)

Citigroup

Inc

6.250

N/A

13,840,539

9,885,000

(c),(d)

Citigroup

Inc

7.375

N/A

10,311,956

22,271,000

(c),(d)

Citigroup

Inc

7.625

N/A

23,603,452

34,157,000

(c),(d)

Citigroup

Inc

7.125

N/A

35,304,539

33,224,000

(c),(d)

Citigroup

Inc

7.000

N/A

35,032,482

12,000,000

(c),(d)

Citigroup

Inc

6.950

N/A

12,337,032

3,846,000

(c),(d),(g)

Citizens

Financial

Group

Inc

(TSFR3M

+

3.419%)

7.068

N/A

3,847,761

16,865,000

(c),(d)

Citizens

Financial

Group

Inc

4.000

N/A

16,770,043

65,935,000

(c),(e),(f)

Credit

Agricole

SA

6.700

N/A

67,692,629

46,064,000

(c),(e),(f)

Credit

Agricole

SA

7.125

N/A

48,458,341

7,016,000

(c),(d),(g)

Fifth

Third

Bancorp

(TSFR3M

+

3.295%)

6.967

N/A

7,038,802

20,174,000

(c),(d),(g)

First

Citizens

BancShares

Inc/NC

(TSFR3M

+

4.234%)

7.957

N/A

20,601,951

22,326,000

(c),(d)

First

Citizens

BancShares

Inc/NC

7.000

N/A

22,985,957

53,510,000

(c),(e)

HSBC

Holdings

PLC

8.000

N/A

56,438,709

44,378,000

(b),(c),(e)

HSBC

Holdings

PLC

6.875

N/A

46,092,411

61,624,000

(b),(c),(e)

HSBC

Holdings

PLC

6.950

N/A

64,962,665

14,612,000

(c),(e)

HSBC

Holdings

PLC

6.950

N/A

15,261,708

26,515,000

(c),(d)

Huntington

Bancshares

Inc/OH

5.625

N/A

27,172,333

24,345,000

(c),(d)

Huntington

Bancshares

Inc/OH

6.250

N/A

24,525,202

43,158,000

(c),(e)

ING

Groep

NV

7.000

N/A

44,862,656

33,907,000

(c),(e)

ING

Groep

NV,

Reg

S

7.500

N/A

35,287,663

40,809,000

(c),(d)

JPMorgan

Chase

&

Co

6.500

N/A

42,746,760

73,116,000

(c),(d)

JPMorgan

Chase

&

Co

6.875

N/A

77,608,320

6,491,000

(c),(d)

KeyCorp

5.000

N/A

6,472,177

37,007,000

(c),(e)

Lloyds

Banking

Group

PLC

8.000

N/A

40,205,293

45

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

BANKS

(continued)

$

58,896,000

(b),(c),(e)

Lloyds

Banking

Group

PLC

6.750

%

N/A

$

61,030,921

5,323,000

(b),(c),(d)

M&T

Bank

Corp

5.125

N/A

5,328,142

14,785,000

(c),(d)

M&T

Bank

Corp

3.500

N/A

14,611,028

89,103,000

(c),(e)

NatWest

Group

PLC

8.125

N/A

100,488,760

71,624,000

(c),(e)

NatWest

Group

PLC

7.300

N/A

76,037,972

10,190,000

(b),(c),(e),(f)

Nordea

Bank

Abp

6.300

N/A

10,459,108

56,602,000

(c),(e),(f)

Nordea

Bank

Abp

6.750

N/A

58,472,713

16,330,000

(c),(d)

PNC

Financial

Services

Group

Inc/The

3.400

N/A

16,139,973

14,835,000

(c),(d)

PNC

Financial

Services

Group

Inc/The

6.000

N/A

14,957,478

6,555,000

(c),(d)

PNC

Financial

Services

Group

Inc/The

6.200

N/A

6,658,340

45,844,000

(c),(d)

PNC

Financial

Services

Group

Inc/The

6.250

N/A

47,543,483

60,763,000

(d)

Royal

Bank

of

Canada

6.500

05/24/86

60,688,012

49,105,000

(d)

Royal

Bank

of

Canada

6.750

08/24/85

50,949,040

45,240,000

(c),(e),(f)

Societe

Generale

SA

9.375

N/A

48,188,834

39,975,000

(b),(c),(e),(f)

Societe

Generale

SA

8.500

N/A

44,463,073

37,290,000

(b),(c),(e),(f)

Societe

Generale

SA

7.125

N/A

37,060,399

54,126,000

(b),(c),(e),(f)

Societe

Generale

SA

10.000

N/A

59,744,496

25,875,000

(c),(e),(f)

Standard

Chartered

PLC

7.750

N/A

26,835,868

23,016,000

(d)

Toronto-Dominion

Bank/The

6.350

10/31/85

23,388,445

20,719,000

(d)

Toronto-Dominion

Bank/The

8.125

10/31/82

21,677,689

48,536,000

(c),(d)

Truist

Financial

Corp

6.669

N/A

48,717,282

12,384,000

(c),(d)

Truist

Financial

Corp

5.100

N/A

12,523,382

2,988,000

(c),(d)

US

Bancorp

5.300

N/A

2,997,893

6,580,000

(d)

Wells

Fargo

&

Co

7.950

11/15/29

7,426,632

14,036,000

(c),(d)

Wells

Fargo

&

Co

3.900

N/A

14,028,910

24,750,000

(b),(c),(d)

Wells

Fargo

&

Co

7.625

N/A

26,412,037

44,179,000

(b),(c),(d)

Wells

Fargo

&

Co

6.850

N/A

46,593,294

TOTAL

BANKS

3,108,850,044

CAPITAL

GOODS

-

1.6%

11,955,000

(c),(d)

Air

Lease

Corp

4.650

N/A

11,880,584

5,586,000

(c),(d)

Air

Lease

Corp

4.125

N/A

5,538,539

27,383,000

(c),(d)

Air

Lease

Corp

6.000

N/A

26,696,032

18,714,000

(d),(f)

ILFC

E-Capital

Trust

I

6.270

12/21/65

16,257,550

44,663,000

(d),(f)

ILFC

E-Capital

Trust

II

6.600

12/21/65

39,473,722

TOTAL

CAPITAL

GOODS

99,846,427

ENERGY

-

4.5%

4,735,000

(d)

Enbridge

Inc

5.500

07/15/77

4,755,484

8,721,000

(d)

Enbridge

Inc

5.750

07/15/80

8,875,894

14,880,000

(d)

Enbridge

Inc

7.625

01/15/83

16,349,936

62,532,000

(d)

Enbridge

Inc

8.500

01/15/84

72,169,369

2,874,000

(c),(d)

Energy

Transfer

LP

6.625

N/A

2,911,095

48,683,000

(c),(d)

Energy

Transfer

LP

7.125

N/A

50,501,115

11,442,000

(c),(d)

Energy

Transfer

LP

6.500

N/A

11,491,833

5,335,000

(d)

Energy

Transfer

LP

8.000

05/15/54

5,723,463

24,656,000

(d)

Energy

Transfer

LP

6.750

02/15/56

25,201,908

8,380,000

(d)

South

Bow

Canadian

Infrastructure

Holdings

Ltd

7.500

03/01/55

8,894,850

20,460,000

(c),(d),(f)

Sunoco

LP

7.875

N/A

21,150,525

4,125,000

(d)

Transcanada

Trust

5.875

08/15/76

4,133,997

31,347,000

(d)

Transcanada

Trust

5.600

03/07/82

31,496,556

11,570,000

(c),(d),(f)

Venture

Global

LNG

Inc

9.000

N/A

10,118,844

TOTAL

ENERGY

273,774,869

FINANCIAL

SERVICES

-

11.3%

17,895,000

(d)

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

6.950

03/10/55

18,912,775

20,600,000

(d)

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

6.500

01/31/56

21,355,629

12,807,000

(c),(d)

Ally

Financial

Inc

4.700

N/A

12,772,343

12,289,000

(c),(d)

Ally

Financial

Inc

4.700

N/A

11,615,317

8,295,000

(c),(d),(f)

Capital

Farm

Credit

ACA

5.000

N/A

8,270,115

10,975,000

(c),(d)

Charles

Schwab

Corp/The

4.000

N/A

10,937,761

3,955,000

(d)

Citigroup

Capital

III

7.625

12/01/36

4,606,293

18,836,000

(c),(d),(f)

Compeer

Financial

ACA

7.875

N/A

19,353,990

6,700,000

(c),(d),(f)

Compeer

Financial

ACA

4.875

N/A

6,574,375

Portfolio

of

Investments

February

28,

2026

(continued)

Preferred

Securities

and

Income

46

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FINANCIAL

SERVICES

(continued)

$

14,755,000

(c),(d)

Corebridge

Financial

Inc

6.875

%

N/A

$

15,132,418

36,075,000

(h)

Credit

Suisse

Group

AG

7.500

01/17/72

12,265,500

61,301,000

(h)

Credit

Suisse

Group

AG

7.500

06/11/72

20,842,340

8,421,000

(h)

Credit

Suisse

Group

AG

5.250

02/11/72

2,863,140

12,260,000

(h)

Credit

Suisse

Group

AG

6.380

02/21/72

4,168,400

62,450,000

(h)

Credit

Suisse

Group

AG

7.250

03/12/72

21,233,000

49,069,000

(h)

Credit

Suisse

Group

AG

0.000

01/17/72

16,683,460

32,600,000

(b),(c),(e)

Deutsche

Bank

AG,

Reg

S

8.130

N/A

35,005,554

36,992,000

(c),(d)

Goldman

Sachs

Group

Inc/The

6.850

N/A

38,737,578

33,489,000

(b),(c),(d)

Goldman

Sachs

Group

Inc/The

6.125

N/A

34,507,635

45,460,000

(c),(d)

Goldman

Sachs

Group

Inc/The

7.500

N/A

48,394,443

20,175,000

(c),(d)

Goldman

Sachs

Group

Inc/The

7.500

N/A

21,568,386

22,200,000

(c),(e)

Julius

Baer

Group

Ltd,

Reg

S

7.500

N/A

23,232,922

11,629,000

(c),(e)

Nomura

Holdings

Inc

7.000

N/A

12,169,144

30,495,000

(c),(d)

State

Street

Corp

6.700

N/A

31,926,679

23,334,000

(c),(e),(f)

UBS

Group

AG

7.000

N/A

23,701,658

107,094,000

(c),(e),(f)

UBS

Group

AG

9.250

N/A

125,245,683

29,805,000

(c),(e),(f)

UBS

Group

AG

9.250

N/A

32,489,561

18,420,000

(c),(e),(f)

UBS

Group

AG

7.750

N/A

19,749,663

26,248,000

(c),(d)

Voya

Financial

Inc

7.758

N/A

27,599,798

TOTAL

FINANCIAL

SERVICES

681,915,560

FOOD,

BEVERAGE

&

TOBACCO

-

2.6%

13,835,000

(c),(d),(f)

Dairy

Farmers

of

America

Inc

7.125

N/A

13,868,550

39,310,000

(c),(d),(f)

Land

O'

Lakes

Inc

8.000

N/A

39,285,455

65,313,000

(c),(d),(f)

Land

O'

Lakes

Inc

7.250

N/A

60,414,525

46,071,000

(c),(d),(f)

Land

O'

Lakes

Inc

7.000

N/A

41,118,367

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

154,686,897

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0.2%

7,648,000

(d)

CVS

Health

Corp

6.750

12/10/54

7,956,444

4,343,000

(d)

CVS

Health

Corp

7.000

03/10/55

4,568,093

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

12,524,537

INSURANCE

-

9.4%

19,306,000

(d)

American

National

Group

Inc

7.000

12/01/55

19,143,652

51,650,000

(d)

Assurant

Inc

7.000

03/27/48

53,196,284

64,240,000

(d),(f)

Assured

Guaranty

Municipal

Holdings

Inc

6.400

12/15/66

60,841,432

19,875,000

(d)

AXIS

Specialty

Finance

LLC

4.900

01/15/40

19,571,457

25,597,000

(d)

Corebridge

Financial

Inc

6.375

09/15/54

25,604,628

14,288,000

(d)

Enstar

Finance

LLC

5.500

01/15/42

14,188,495

9,883,000

(d),(f)

Enstar

Group

Ltd

7.500

04/01/45

10,295,338

5,830,000

(d),(f)

Fidelis

Insurance

Holdings

Ltd

6.625

04/01/41

5,822,895

9,614,000

(b),(d)

MetLife

Inc

5.850

03/15/56

9,546,170

24,448,000

(d),(f)

MetLife

Inc

9.250

04/08/38

29,132,041

11,023,000

(d)

MetLife

Inc

6.350

03/15/55

11,449,083

14,051,000

(d)

PartnerRe

Finance

B

LLC

4.500

10/01/50

13,580,283

49,816,000

(c),(e)

Phoenix

Group

Holdings

PLC,

Reg

S

8.500

N/A

54,177,391

21,542,000

(d)

Provident

Financing

Trust

I

7.405

03/15/38

23,523,172

5,234,000

(d)

Prudential

Financial

Inc

5.125

03/01/52

5,143,462

13,400,000

(d)

Prudential

Financial

Inc

6.500

03/15/54

14,121,268

12,672,000

(d)

Reinsurance

Group

of

America

Inc

6.650

09/15/55

13,118,384

26,530,000

(c),(d)

RLGH

Finance

Bermuda

Ltd,

Reg

S

6.875

N/A

27,133,138

94,664,000

(c),(d),(f)

SBL

Holdings

Inc

9.508

N/A

94,156,851

70,600,000

(b),(c),(d),(f)

SBL

Holdings

Inc

6.500

N/A

63,722,087

TOTAL

INSURANCE

567,467,511

MATERIALS

-

0.1%

5,000,000

(c),(d),(f)

Cemex

SAB

de

CV

7.200

N/A

5,265,000

TOTAL

MATERIALS

5,265,000

MEDIA

&

ENTERTAINMENT

-

0.2%

9,267,000

(c),(d),(f)

Farm

Credit

Bank

of

Texas

7.750

N/A

9,711,319

TOTAL

MEDIA

&

ENTERTAINMENT

9,711,319

47

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TELECOMMUNICATION

SERVICES

-

1.3%

$

14,843,000

(d)

Bell

Telephone

Co

of

Canada

or

Bell

Canada

7.000

%

09/15/55

$

15,710,485

17,730,000

(d)

Rogers

Communications

Inc

7.125

04/15/55

18,777,325

13,396,000

(d)

TELUS

Corp

7.000

10/15/55

14,136,196

22,509,000

(d)

Vodafone

Group

PLC

7.000

04/04/79

23,832,079

9,350,000

(d)

Vodafone

Group

PLC

4.125

06/04/81

8,837,717

TOTAL

TELECOMMUNICATION

SERVICES

81,293,802

UTILITIES

-

3.6%

5,575,000

(d),(f)

AES

Andes

SA

8.150

06/10/55

5,993,014

9,618,000

(d)

AES

Corp/The

7.600

01/15/55

9,667,465

7,093,000

(d),(f)

AltaGas

Ltd

7.200

10/15/54

7,410,852

11,494,000

(d)

American

Electric

Power

Co

Inc

3.875

02/15/62

11,326,796

10,244,000

(d)

CMS

Energy

Corp

6.500

06/01/55

10,705,830

6,574,000

(d)

Dominion

Energy

Inc

7.000

06/01/54

7,136,610

8,455,000

(b),(d)

Duke

Energy

Corp

6.450

09/01/54

8,909,118

35,009,000

(d)

Emera

Inc

6.750

06/15/76

35,184,290

18,153,000

(d)

Entergy

Corp

7.125

12/01/54

18,991,759

11,121,000

(d)

EUSHI

Finance

Inc

7.625

12/15/54

11,740,273

15,071,000

(d)

NextEra

Energy

Capital

Holdings

Inc

6.750

06/15/54

16,034,216

10,443,000

(d)

PG&E

Corp

7.375

03/15/55

10,803,315

11,762,000

(d)

Sempra

4.125

04/01/52

11,609,416

14,485,000

(d)

Sempra

6.550

04/01/55

14,787,432

10,983,000

(d)

Sempra

6.375

04/01/56

11,245,735

3,395,000

(c),(d),(f)

Vistra

Corp

8.000

N/A

3,450,902

5,900,000

(c),(d),(f)

Vistra

Corp

7.000

N/A

5,970,641

17,517,000

(c),(d),(f)

Vistra

Corp

8.875

N/A

19,294,450

TOTAL

UTILITIES

220,262,114

TOTAL

CORPORATE

BONDS

(Cost

$5,177,771,935)

5,275,864,486

SHARES

DESCRIPTION

VALUE

75,062,294

EXCHANGE-TRADED

FUNDS

-

1.2%

75,062,294

2,847,000

(i)

Nuveen

Preferred

And

Income

ETF

75,062,294

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost

$74,903,375)

75,062,294

SHARES

DESCRIPTION

RATE

VALUE

508349004

PREFERRED

STOCK

-

8.4%

508349004

BANKS

-

1.3%

486,433

Fifth

Third

Bancorp

7.973

12,520,785

280,000

(g)

Huntington

Bancshares,

Inc

(TSFR3M

+

2.962%)

6.634

6,971,104

285,287

KeyCorp

6.125

7,214,908

1,355,330

KeyCorp

6.200

34,696,448

217,680

KeyCorp

5.625

4,812,905

219,879

KeyCorp

5.650

4,797,760

41,404

(j)

Pinnacle

Financial

Partners,

Inc

8.397

1,082,715

302,269

Regions

Financial

Corp

5.700

7,417,681

TOTAL

BANKS

79,514,306

FINANCIAL

SERVICES

-

2.4%

680,940

Bank

of

New

York

Mellon

Corp

6.150

17,575,061

558,300

Equitable

Holdings,

Inc

5.250

11,489,814

518,768

Morgan

Stanley

6.375

13,140,394

1,344,835

Morgan

Stanley

5.850

33,392,253

870,125

Morgan

Stanley

6.625

22,971,300

242,300

Morgan

Stanley

6.500

6,253,763

322,188

Morgan

Stanley

6.875

8,177,131

350,835

(b)

Synchrony

Financial

5.625

6,925,483

1,058,054

Voya

Financial,

Inc

5.350

25,467,360

TOTAL

FINANCIAL

SERVICES

145,392,559

Portfolio

of

Investments

February

28,

2026

(continued)

Preferred

Securities

and

Income

48

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

RATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO

-

0.9%

193,870

CHS,

Inc

7.875

%

$

5,050,313

1,451,502

CHS,

Inc

7.100

36,868,151

528,896

CHS,

Inc

6.750

13,296,445

44,881

CHS,

Inc

7.500

1,146,710

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

56,361,619

INSURANCE

-

3.7%

504,425

(b)

American

National

Group,

Inc

7.375

12,570,271

603,290

Aspen

Insurance

Holdings

Ltd

5.625

12,457,938

526,750

(b)

Aspen

Insurance

Holdings

Ltd

7.125

13,147,680

191,504

Assurant,

Inc

5.250

3,929,662

540,503

Athene

Holding

Ltd

7.750

13,880,117

1,006,376

Athene

Holding

Ltd

6.350

24,535,447

1,450,528

Delphi

Financial

Group,

Inc

7.104

34,812,672

2,729,044

Enstar

Group

Ltd

7.000

64,132,534

78,593

Enstar

Group

Ltd

7.000

1,729,046

23,571

PartnerRe

Ltd

4.875

404,950

853,330

Reinsurance

Group

of

America,

Inc

5.750

21,358,850

556,200

(b)

Reinsurance

Group

of

America,

Inc

7.125

14,238,720

221,929

Selective

Insurance

Group,

Inc

4.600

3,748,381

TOTAL

INSURANCE

220,946,268

TELECOMMUNICATION

SERVICES

-

0.1%

314,900

AT&T,

Inc

4.750

6,134,252

TOTAL

TELECOMMUNICATION

SERVICES

6,134,252

TOTAL

PREFERRED

STOCK

(Cost

$524,720,186)

508,349,004

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

100732455

U.S.

GOVERNMENT

AND

AGENCY

OBLIGATIONS

-

1.7%

100732455

$

18,191,000

(c)

CoBank

ACB

6.250

N/A

18,226,709

33,000,000

(c)

CoBank

ACB

6.450

N/A

33,330,001

7,057,000

(c)

CoBank

ACB

7.250

N/A

7,215,027

17,887,000

(c)

CoBank

ACB

7.125

N/A

18,599,564

22,524,000

(c)

Farm

Credit

Bank

of

Texas

7.000

N/A

23,361,154

TOTAL

U.S.

GOVERNMENT

AND

AGENCY

OBLIGATIONS

(Cost

$98,965,920)

100,732,455

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$5,876,361,416)

5,960,008,239

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

3.1%

190,584,692

(k)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.700

(l)

190,584,692

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$190,584,692)

190,584,692

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

 0.5%

32578703

REPURCHASE

AGREEMENTS

-

0.5%

32578703

7,203,703

(m)

Fixed

Income

Clearing

Corporation

1.060

03/02/26

7,203,703

25,375,000

(n)

Fixed

Income

Clearing

Corporation

3.640

03/02/26

25,375,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$32,578,703)

32,578,703

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$32,578,703)

32,578,703

TOTAL

INVESTMENTS

-

102.1%

(Cost

$6,099,524,811

)

6,183,171,634

OTHER

ASSETS

&

LIABILITIES,

NET

-  (2.1)%

(129,526,860)

NET

ASSETS

-

100%

$

6,053,644,774

49

See

Notes

to

Financial

Statements

Investments

in

Derivatives

ETF

Exchange-Traded

Fund

Reg

S

Regulation

S

allows

U.S.

companies

to

sell

securities

to

persons

or

entities

located

outside

of

the

United

States

without

registering

those

securities

with

the

Securities

and

Exchange

Commission.

Specifically,

Regulation

S

provides

a

safe

harbor

from

the

registration

requirements

of

the

Securities

Act

for

the

offers

and

sales

of

securities

by

both

foreign

and

domestic

issuers

that

are

made

outside

the

United

States.

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

3

Month

(a)

Contains

$1,000

Par

Preferred

and/or

Contingent

Capital

Securities.

(b)

Investment,

or

a

portion

of

investment,

is

out

on

loan

for

securities

lending.

The

total

value

of

the

securities

out

on

loan

as

of

the

end

of

the

fiscal

period

was

$182,757,946.

(c)

Perpetual

security.

Maturity

date

is

not

applicable.

(d)

$1,000

Par

Institutional

Preferred

security.

As

of

the

end

of

the

period,

the

percent

of

$1,000

Par

Institutional

Preferred

securities

was

50.3%

of

Total

Investments.

(e)

Contingent

Capital

Securities

(“CoCos”)

are

debt

or

preferred

securities

with

loss

absorption

characteristics

built

into

the

terms

of

the

security

for

the

benefit

of

the

issuer,

for

example

an

automatic

write-down

of

principal

or

a

mandatory

conversion

into

the

issuer’s

common

stock

under

certain

adverse

circumstances,

such

as

the

issuer’s

capital

ratio

falling

below

a

specified

level.

As

of

the

end

of

the

reporting

period,

the

Fund’s

total

investment

in

CoCos

was

33.7%

of

Total

Investments.

(f)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$1,524,593,261

or

24.7%

of

Total

Investments.

(g)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable.  For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(h)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(i)

Affiliated

holding

(j)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(k)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(l)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(m)

Agreement

with

Fixed

Income

Clearing

Corporation,

1.060%

dated

2/27/26

to

be

repurchased

at

$7,204,339

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

3.875%

and

maturity

date

10/15/27,

valued

at

$7,347,795.

(n)

Agreement

with

Fixed

Income

Clearing

Corporation,

3.640%

dated

2/27/26

to

be

repurchased

at

$25,382,697

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

3.625%

and

maturity

date

8/31/30,

valued

at

$25,882,590.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

U.S.

Treasury

10-Year

Note

2,070

6/26

$

234,592,322

$

235,591,875

$

999,553

U.S.

Treasury

Long

Bond

523

6/26

61,516,309

61,959,156

442,847

U.S.

Treasury

Ultra

Bond

517

6/26

62,312,723

62,863,969

551,246

Total

$358,421,354

$360,415,000

$1,993,646

50

Portfolio

of

Investments

February

28,

2026

Strategic

Income

See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

97.7%

ASSET-BACKED

SECURITIES

-

10.9%

–

$

959,011

(a)

Aaset

2021-2

Trust,

Series

2021

2A

2.798

%

01/15/47

$

920,053

2,000,000

(a)

Adams

Outdoor

Advertising

LP,

Series

2023

1

6.967

07/15/53

2,029,428

2,200,000

(a)

Affirm

Asset

Securitization

Trust

2024-B,

Series

2024

B

5.060

09/15/29

2,203,979

1,900,000

(a)

Affirm

Asset

Securitization

Trust

2024-B,

Series

2024

B

5.500

09/15/29

1,904,027

644,891

(a)

Alterna

Funding

III

LLC,

Series

2024

1A

6.260

05/16/39

645,901

693,132

(a)

Alterna

Funding

III

LLC,

Series

2024

1A

7.136

05/16/39

694,137

3,000,000

(a)

Applebee's

Funding

LLC

/

IHOP

Funding

LLC

6.720

06/07/55

3,037,437

850,000

(a)

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2021

1A

2.130

08/20/27

844,776

2,400,000

(a)

Blue

Stream

Issuer

LLC,

Series

2024

1A

5.408

11/20/54

2,433,855

2,412,875

(a)

Bojangles

Issuer

LLC,

Series

2024

1A

6.584

11/20/54

2,446,575

997,500

(a)

Cajun

Global

LLC,

Series

2025

2A

5.912

11/20/55

1,016,773

1,000,000

(a),(b)

CARLYLE

US

CLO

2021-2

Ltd,

Series

2021

2A,

(TSFR3M

+

2.850%)

6.518

04/20/38

974,810

1,461,250

(a)

Cars

Net

Lease

Mortgage

Notes,

Series

2020

1A

3.100

12/15/50

1,415,212

1,250,000

(a)

Cars

Net

Lease

Mortgage

Notes,

Series

2020

1A

4.690

12/15/50

1,191,649

1,150,000

(a)

CARS-DB4

LP,

Series

2020

1A

4.520

02/15/50

1,135,923

625,078

(a)

CARS-DB5

LP,

Series

2021

1A

1.920

08/15/51

616,396

238,325

Carvana

Auto

Receivables

Trust

2021-N4,

Series

2021

N4

2.300

09/11/28

233,742

500,000

(a)

Carvana

Auto

Receivables

Trust

2024-N3,

Series

2024

N3

4.900

12/10/30

505,483

2,760,000

(a)

Centersquare

Issuer

LLC,

Series

2024

1A

5.600

10/26/54

2,714,608

2,240,000

(a)

Centersquare

Issuer

LLC,

Series

2024

1A

5.200

10/26/54

2,212,933

674,589

(a)

CF

Hippolyta

Issuer

LLC,

Series

2020

1

2.600

07/15/60

429,715

1,349,178

(a)

CF

Hippolyta

Issuer

LLC,

Series

2020

1

2.280

07/15/60

870,638

2,125,000

(a),(b)

CIFC

Funding

2020-I

Ltd,

Series

2020

1A,

(TSFR3M

+

3.362%)

7.034

07/15/36

2,128,408

1,500,000

(a)

Compass

Datacenters

Issuer

III

LLC,

Series

2025

1A

5.656

02/25/50

1,519,086

1,000,000

(a)

Concord

Music

Royalties

LLC,

Series

2024

1A

5.644

10/20/74

1,008,905

2,500,000

(a)

Consolidated

Communications

LLC/Fidium

Fiber

Finance

Holdco

LLC,

Series

2025

1A

6.000

05/20/55

2,562,909

3,000,000

(a)

Crescendo

Royalty

Funding

LP,

Series

2021

1

3.567

12/20/51

2,966,610

1,000,000

(a)

CyrusOne

Data

Centers

Issuer

I

LLC,

Series

2023

2A

5.560

11/20/48

1,006,029

2,175,000

(a)

DataBank

Issuer,

Series

2026

1A

5.811

02/25/56

2,199,914

1,149,000

(a)

DB

Master

Finance

LLC,

Series

2021

1A

2.045

11/20/51

1,131,564

1,149,000

(a)

DB

Master

Finance

LLC,

Series

2021

1A

2.493

11/20/51

1,094,615

972,500

(a)

Domino's

Pizza

Master

Issuer

LLC,

Series

2021

1A

2.662

04/25/51

933,738

1,440,000

(a)

Domino's

Pizza

Master

Issuer

LLC,

Series

2019

1A

3.668

10/25/49

1,408,418

1,500,000

(a),(b)

Elmwood

CLO

26

Ltd,

Series

2024

1A,

(TSFR3M

+

3.600%)

7.268

04/18/37

1,497,402

3,860,000

(a)

EWC

Master

Issuer

LLC,

Series

2022

1A

5.500

03/15/52

3,829,106

2,000,000

(a)

Flexential

Issuer

LLC,

Series

2025

1A

6.030

10/25/60

2,032,828

1,807,139

(a),(b)

FNA

8

LLC,

Series

2025

1

5.623

03/15/45

1,825,147

2,850,000

(a)

Hardee's

Funding

LLC,

Series

2020

1A

3.981

12/20/50

2,761,090

1,500,000

(a)

Hertz

Vehicle

Financing

III

LLC,

Series

2024

2A

6.210

01/27/31

1,562,133

1,000,000

(a)

Hertz

Vehicle

Financing

III

LLC,

Series

2024

1A

6.120

01/25/29

1,022,868

1,000,000

(a)

Hertz

Vehicle

Financing

III

LLC,

Series

2025

6A

5.140

05/25/32

1,010,379

6,150,000

(a)

HI-FI

Music

IP

Issuer

LP,

Series

2022

1A

3.939

02/01/62

6,101,032

1,172,462

(a)

Hin

Timeshare

Trust,

Series

2025

B

7.580

05/15/45

1,191,851

576,205

(a)

Horizon

Aircraft

Finance

II

Ltd,

Series

2019

1

3.721

07/15/39

571,872

464,899

(a)

Horizon

Aircraft

Finance

III

Ltd,

Series

2019

2

3.425

11/15/39

455,593

2,787,600

(a)

Horizon

Aircraft

Finance

IV

Ltd,

Series

2024

1

5.375

09/15/49

2,842,547

1,100,000

(a)

Hotwire

Funding

LLC,

Series

2021

1

2.658

11/20/51

1,082,277

1,000,000

(a)

Hotwire

Funding

LLC,

Series

2024

1A

6.672

06/20/54

1,021,620

1,166,943

(a),(c)

Industrial

DPR

Funding

Ltd,

Series

2022

1A

5.380

04/15/34

1,053,283

2,920,000

(a)

Jersey

Mike's

Funding

LLC,

Series

2026

1A

4.952

02/15/56

2,957,799

1,311,314

(a),(c)

Jonah

Energy

Abs

I

LLC,

Series

2022

1

7.200

12/10/37

1,325,042

2,000,000

(a),(d)

LIGHTPATH

FIBER

ISSUER

LLC,

Series

2026

1A

6.170

03/25/56

2,026,641

2,500,000

(a)

Lmdv

Issuer

Co

LLC,

Series

2025

1A

5.310

12/15/55

2,539,125

2,000,000

(a)

Lmrk

Issuer

Co

2

LLC,

Series

2025

1A

5.520

09/15/55

2,036,937

764,773

(a)

Lunar

2021-1

Structured

Aircraft

Portfolio

Notes,

Series

2021

1

5.682

10/15/46

747,175

1,458,059

(a)

LUNAR

AIRCRAFT

2020-1

LTD,

Series

2020

1A

3.376

02/15/45

1,431,455

3,699,344

(a)

Lyra

Music

Assets

Delaware

LP,

Series

2024

2A

5.760

12/22/64

3,751,954

101,356

(a)

MAPS

2021-1

Trust,

Series

2021

1A

2.521

06/15/46

97,969

51

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ASSET-BACKED

SECURITIES

(continued)

$

1,984,244

(a)

Maritime

Partners,

LLC,

Series

2025

1A

5.547

11/15/65

$

2,005,916

2,000,000

(a)

MetroNet

Infrastructure

Issuer

LLC,

Series

2025

4A

5.163

12/20/55

2,032,202

2,500,000

(a)

Mission

Lane

Credit

Card

Master

Trust,

Series

2025

A

12.250

05/15/30

2,490,416

200,033

(a)

MVW

2019-2

LLC,

Series

2019

2A

2.680

10/20/38

199,689

1,000,000

(a),(b),(d)

Neuberger

Berman

Loan

Advisers

Clo

51

Ltd,

Series

2022

51A,

(TSFR3M

+

2.800%)

0.000

10/23/36

1,001,895

1,000,000

(a)

Oak

Street

Investment

Grade

Net

Lease

Fund,

Series

2021

1A

4.230

01/20/51

451,296

3,000,000

(a)

OHS

Issuer

LLC,

Series

2026

1

6.000

02/25/61

3,005,902

98,381

(a)

Oportun

Issuance

Trust

2021-C,

Series

2021

C

5.570

10/08/31

97,573

173,431

(a)

Oportun

Issuance

Trust

2021-C,

Series

2021

C

3.610

10/08/31

171,619

3,330,000

(a)

Oportun

Issuance

Trust

2025-B,

Series

2025

B

6.450

05/09/33

3,353,203

1,000,000

(a)

Planet

Fitness

Master

Issuer

LLC,

Series

2025

1A

5.274

12/06/55

1,015,828

3,000,000

(a)

QTS

Issuer

ABS

II

LLC,

Series

2026

1A

5.364

01/05/56

3,047,342

1,000,000

(a)

Sotheby's

Artfi

Master

Trust,

Series

2026

1A

6.800

06/20/33

1,009,358

505,797

(a)

Start

II

LTD,

Series

2019

1

5.095

03/15/44

505,874

1,481,250

(a)

Subway

Funding

LLC,

Series

2024

1A

6.028

07/30/54

1,497,781

4,000,000

(a)

Summit

Issuer

LLC,

Series

2025

1A

5.208

11/20/55

4,063,552

2,583,975

(a)

Taco

Bell

Funding

LLC,

Series

2021

1A

2.294

08/25/51

2,427,761

1,500,000

(a)

Uniti

Fiber

Abs

Issuer

LLC,

Series

2025

1A

5.877

04/20/55

1,540,624

1,250,000

(a)

UNITK

2026-1A

A2,

Series

2026

1A

7.653

02/25/56

1,279,195

2,025,000

(a)

UNITK

2026-1A

A2,

Series

2026

1A

5.219

02/25/56

2,057,638

2,155,000

(a)

VB-S1

Issuer

LLC

-

VBTEL,

Series

2022

1A

3.156

02/15/52

2,114,330

3,000,000

(a)

VB-S1

Issuer

LLC

-

VBTEL,

Series

2022

1A

4.288

02/15/52

2,974,311

383,936

(a)

Vivint

Solar

Financing

V

LLC,

Series

2018

1A

7.370

04/30/48

376,319

1,379,588

(a)

Wendy's

Funding

LLC,

Series

2018

1A

3.884

03/15/48

1,365,135

830,136

(a)

Wendy's

Funding

LLC,

Series

2021

1A

2.370

06/15/51

782,686

1,985,535

(a)

Willis

Engine

Structured

Trust

IX,

Series

2025

B

5.159

12/15/50

2,006,958

804,930

(a)

Willis

Engine

Structured

Trust

VI,

Series

2021

A

3.104

05/15/46

768,101

467,827

(a)

Willis

Engine

Structured

Trust

VII,

Series

2023

A

8.000

10/15/48

479,576

1,464,492

(a)

Willis

Engine

Structured

Trust

VIII,

Series

2025

A

6.070

06/15/50

1,498,923

620,750

(a)

Zaxbys

Funding

LLC,

Series

2021

1A

3.238

07/30/51

595,287

4,500,000

(a)

Zayo

Issuer

LLC,

Series

2025

1A

5.648

03/20/55

4,602,075

1,500,000

(a)

Zayo

Issuer

LLC,

Series

2025

1A

8.659

03/20/55

1,578,272

TOTAL

ASSET-BACKED

SECURITIES

(Cost

$147,240,523)

147,610,008

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

445406962

CORPORATE

BONDS

-

32.7%

(e)

445406962

AUTOMOBILES

&

COMPONENTS

-

0.1%

1,500,000

(a)

Ford

Otomotiv

Sanayi

AS

7.125

04/25/29

1,558,626

TOTAL

AUTOMOBILES

&

COMPONENTS

1,558,626

BANKS

-

9.1%

2,975,000

(a),(f),(g)

Akbank

TAS

0.000

N/A

2,978,995

1,600,000

(f),(g)

Banco

Bilbao

Vizcaya

Argentaria

SA

9.375

N/A

1,782,382

1,500,000

(a),(h)

Banco

Bradesco

SA/Cayman

Islands

6.500

01/22/30

1,585,800

800,000

(a),(f),(g)

Banco

de

Credito

e

Inversiones

SA

8.750

N/A

863,440

1,325,000

(a)

Banco

Internacional

del

Peru

SAA

Interbank

4.800

07/15/31

1,328,445

500,000

(a),(f),(g)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

8.375

N/A

534,375

1,050,000

(a),(f),(g)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

7.500

N/A

1,084,363

1,500,000

(a),(f),(g)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

8.750

N/A

1,650,248

1,775,000

(a)

Banco

Santander

Mexico

SA

Institucion

de

Banca

Multiple

Grupo

Financiero

Santand

5.621

12/10/29

1,853,987

2,200,000

(f),(g)

Banco

Santander

SA

9.625

N/A

2,652,771

500,000

(a),(g)

Bangkok

Bank

PCL/Hong

Kong

3.466

09/23/36

460,256

950,000

(a)

Bank

Hapoalim

BM,

Reg

S

5.252

01/14/33

961,302

1,000,000

(a),(g)

Bank

Hapoalim

BM,

Reg

S

3.255

01/21/32

986,491

4,800,000

(f),(i)

Bank

of

America

Corp

6.625

N/A

5,025,163

5,000,000

(i)

Bank

of

Montreal

7.300

11/26/84

5,323,745

3,340,000

(f),(g)

Barclays

PLC

8.000

N/A

3,561,463

1,100,000

(a),(g)

BBVA

Mexico

SA

Institucion

De

Banca

Multiple

Grupo

Financiero

BBVA

Mexico/TX

7.625

02/11/35

1,174,415

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

52

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

BANKS

(continued)

1,000,000

(a),(g)

BBVA

Mexico

SA

Institucion

De

Banca

Multiple

Grupo

Financiero

BBVA

Mexico/TX

8.450

%

06/29/38

$

1,122,500

3,290,000

(a),(f),(g)

BNP

Paribas

SA

7.450

N/A

3,475,724

2,500,000

(i)

BSF

Finance,

Reg

S

5.761

09/03/35

2,513,185

3,000,000

(i)

Canadian

Imperial

Bank

of

Commerce

6.950

01/28/85

3,102,234

900,000

Citigroup

Inc

5.174

09/11/36

915,711

4,000,000

(f),(i)

Citigroup

Inc

6.625

N/A

4,135,125

1,215,000

Citigroup

Inc

4.503

09/11/31

1,224,275

3,685,000

(f),(i)

Citigroup

Inc

7.625

N/A

3,905,470

1,675,000

(a)

Development

Bank

of

Kazakhstan

JSC

2.950

05/06/31

1,533,542

4,600,000

(f),(i)

First

Citizens

BancShares

Inc/NC

7.000

N/A

4,735,976

375,000

(a)

Grupo

Aval

Ltd

4.375

02/04/30

354,900

1,560,000

(f),(i)

Huntington

Bancshares

Inc/OH

5.625

N/A

1,598,674

500,000

(a),(i)

Industrial

Subordinated

Trust

2

0

6.550

04/15/36

513,925

2,800,000

(f),(g)

ING

Groep

NV

7.000

N/A

2,910,594

2,205,000

JPMorgan

Chase

&

Co

5.572

04/22/36

2,331,694

2,000,000

(f),(i)

JPMorgan

Chase

&

Co

3.650

N/A

1,992,584

2,000,000

(f),(i)

JPMorgan

Chase

&

Co

6.875

N/A

2,122,882

2,000,000

(f),(g)

Lloyds

Banking

Group

PLC

6.750

N/A

2,072,498

1,700,000

(a),(g)

Mizrahi

Tefahot

Bank

Ltd,

Reg

S

3.077

04/07/31

1,695,180

2,400,000

(a),(g)

Mizrahi

Tefahot

Bank

Ltd,

Reg

S

5.837

04/15/36

2,462,643

1,550,000

Morgan

Stanley

Private

Bank

NA

4.204

11/17/28

1,555,767

10,270,000

Morgan

Stanley

Private

Bank

NA

4.465

11/19/31

10,333,210

3,000,000

(f),(g)

NatWest

Group

PLC

8.125

N/A

3,383,346

2,000,000

(f),(i)

PNC

Financial

Services

Group

Inc/The

3.400

N/A

1,976,727

2,000,000

(i)

Royal

Bank

of

Canada

6.500

05/24/86

1,997,532

CAD

4,000,000

(i)

Royal

Bank

of

Canada

3.650

11/24/81

2,883,355

4,500,000

(i)

Saudi

Awwal

Bank,

Reg

S

5.947

09/04/35

4,589,706

4,775,000

(i)

SNB

Funding

Ltd,

Reg

S

6.000

06/24/35

4,929,744

2,040,000

Texas

Capital

Bancshares

Inc

5.301

02/27/32

2,046,557

CAD

4,000,000

(i)

Toronto-Dominion

Bank/The

3.600

10/31/81

2,883,912

2,000,000

(f),(i)

Truist

Financial

Corp

6.669

N/A

2,007,470

1,780,000

Wells

Fargo

&

Co

5.605

04/23/36

1,872,079

1,850,000

Wells

Fargo

&

Co

5.150

04/23/31

1,915,185

1,440,000

(f),(i)

Wells

Fargo

&

Co

7.625

N/A

1,536,700

1,500,000

(a),(f),(g)

Yapi

ve

Kredi

Bankasi

AS

8.250

N/A

1,511,933

TOTAL

BANKS

123,950,180

CAPITAL

GOODS

-

1.3%

1,500,000

(a)

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

7.000

05/21/30

1,570,880

3,725,000

Boeing

Co/The

5.805

05/01/50

3,740,049

1,225,000

Boeing

Co/The

6.528

05/01/34

1,373,442

1,500,000

(a)

IHS

Holding

Ltd

7.875

05/29/30

1,570,503

1,500,000

(a),(h)

IHS

Holding

Ltd

8.250

11/29/31

1,597,974

2,500,000

(a)

IRB

Infrastructure

Developers

Ltd

7.110

03/11/32

2,605,951

1,275,000

(a)

Sisecam

UK

PLC

8.625

05/02/32

1,334,160

2,000,000

(a)

Sisecam

UK

PLC

8.375

01/23/33

2,074,775

1,200,000

(a)

Sociedad

Quimica

y

Minera

de

Chile

SA

6.500

11/07/33

1,311,813

TOTAL

CAPITAL

GOODS

17,179,547

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.3%

1,275,000

(a)

Bidvest

Group

UK

PLC/The

6.200

09/17/32

1,303,024

1,500,000

(a)

RR

Donnelley

&

Sons

Co

9.500

08/01/29

1,545,644

1,195,000

Waste

Management

Inc

4.950

03/15/35

1,229,176

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

4,077,844

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0.4%

3,500,000

(a)

El

Puerto

de

Liverpool

SAB

de

CV

5.750

02/10/38

3,486,875

2,000,000

(a)

Kohl's

Corp

10.000

06/01/30

2,177,244

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

5,664,119

CONSUMER

SERVICES

-

0.2%

2,000,000

(a)

Arcos

Dorados

BV

6.375

01/29/32

2,126,760

800,000

(h)

Sands

China

Ltd

3.250

08/08/31

745,045

TOTAL

CONSUMER

SERVICES

2,871,805

53

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ENERGY

-

3.6%

1,200,000

(a)

Azule

Energy

Finance

Plc

8.625

%

01/22/33

$

1,206,967

1,000,000

(a)

CNX

Resources

Corp

7.250

03/01/32

1,048,595

100,000

Ecopetrol

SA

5.875

05/28/45

75,245

575,000

Ecopetrol

SA

6.875

04/29/30

579,009

450,000

Ecopetrol

SA

4.625

11/02/31

403,048

1,000,000

Ecopetrol

SA

5.875

11/02/51

721,921

1,966,901

(a)

EIG

Pearl

Holdings

Sarl

3.545

08/31/36

1,823,730

900,000

(a)

Empresa

Nacional

del

Petroleo

3.450

09/16/31

831,497

826,000

(a)

Energean

Israel

Finance

Ltd,

Reg

S

5.375

03/30/28

816,501

1,000,000

(a)

Energean

Israel

Finance

Ltd,

Reg

S

5.875

03/30/31

961,661

2,470,000

(f),(i)

Energy

Transfer

LP

7.125

N/A

2,562,245

1,700,000

(a)

Galaxy

Pipeline

Assets

Bidco

Ltd

2.625

03/31/36

1,511,838

1,000,000

(a)

Global

Partners

LP

/

GLP

Finance

Corp

8.250

01/15/32

1,056,480

2,000,000

(a)

Indika

Energy

Tbk

PT

8.750

05/07/29

1,991,244

1,000,000

(a)

Kodiak

Gas

Services

LLC

6.500

10/01/33

1,031,221

500,000

(a)

Medco

Laurel

Tree

Pte

Ltd

6.950

11/12/28

502,256

500,000

(a)

Medco

Maple

Tree

Pte

Ltd

8.960

04/27/29

518,550

1,210,000

ONEOK

Inc

5.050

11/01/34

1,214,412

2,000,000

(a)

Pan

American

Energy

LLC/Argentina

7.750

01/15/37

2,017,500

2,000,000

Petrobras

Global

Finance

BV

5.125

09/10/30

1,991,000

1,950,000

Petrobras

Global

Finance

BV

6.250

01/10/36

1,977,105

200,000

(a)

Petroleos

del

Peru

SA

4.750

06/19/32

146,232

1,490,000

Petroleos

Mexicanos

6.700

02/16/32

1,493,228

100,000

Petroleos

Mexicanos

6.750

09/21/47

83,170

559,000

Petroleos

Mexicanos

7.690

01/23/50

510,402

560,000

(a)

Petronas

Capital

Ltd

4.950

01/03/31

583,392

2,400,000

(a)

Petronas

Capital

Ltd

5.340

04/03/35

2,528,927

1,500,000

(a)

Raizen

Fuels

Finance

SA

5.700

01/17/35

657,750

1,575,000

(a),(h)

SIERRACOL

EN

AND/ARA/DEV

9.000

11/14/30

1,600,594

1,993,000

(i)

South

Bow

Canadian

Infrastructure

Holdings

Ltd

7.500

03/01/55

2,115,446

3,570,000

(a),(f),(i)

Sunoco

LP

7.875

N/A

3,690,487

1,150,000

Targa

Resources

Corp

5.550

08/15/35

1,191,717

1,000,000

(a)

Thaioil

Treasury

Center

Co

Ltd

2.500

06/18/30

921,758

1,780,000

(i)

Transcanada

Trust

5.500

09/15/79

1,799,331

1,750,000

(a)

Transportadora

de

Gas

del

Sur

SA

7.750

11/20/35

1,771,149

2,000,000

(a),(f),(i)

Venture

Global

LNG

Inc

9.000

N/A

1,749,152

2,600,000

(a)

Venture

Global

Plaquemines

LNG

LLC

6.750

01/15/36

2,769,549

TOTAL

ENERGY

48,454,309

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

1.7%

520,626

(a)

CFE

FIBRA

E

5.875

09/23/40

517,607

1,440,000

(a)

FIBRA

Prologis

5.500

11/26/35

1,459,440

1,100,000

GLP

Capital

LP

/

GLP

Financing

II

Inc

5.625

03/01/36

1,099,874

405,000

Healthcare

Realty

Holdings

LP

3.500

08/01/26

403,360

3,556,000

Healthcare

Realty

Holdings

LP

3.750

07/01/27

3,543,620

3,540,000

Healthcare

Realty

Holdings

LP

2.400

03/15/30

3,282,936

2,100,000

Healthcare

Realty

Holdings

LP

2.050

03/15/31

1,866,958

2,100,000

(a)

Millrose

Properties

Inc

6.250

09/15/32

2,126,340

1,500,000

(a)

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

8.500

02/15/32

1,605,417

4,085,000

Piedmont

Operating

Partnership

LP

9.250

07/20/28

4,499,000

560,000

(a)

Trust

2401

4.869

01/15/30

553,868

290,000

(a)

Trust

Fibra

Uno

4.869

01/15/30

285,505

1,825,000

Ventas

Realty

LP

5.000

01/15/35

1,842,533

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

23,086,458

FINANCIAL

SERVICES

-

3.7%

1,354,000

(i)

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

6.950

03/10/55

1,431,009

1,500,000

(a)

Azorra

Finance

Ltd

7.750

04/15/30

1,575,414

1,575,000

(a)

Banco

BTG

Pactual

SA/Cayman

Islands

5.500

01/27/31

1,574,921

EUR

3,000,000

(f),(g)

Deutsche

Bank

AG,

Reg

S

7.125

N/A

3,761,846

2,000,000

(a)

Encore

Capital

Group

Inc

6.625

04/15/31

2,030,800

1,955,000

(f),(i)

Goldman

Sachs

Group

Inc/The

7.500

N/A

2,090,022

3,000,000

(f),(i)

Goldman

Sachs

Group

Inc/The

6.850

N/A

3,141,564

5,680,000

(i)

HA

Sustainable

Infrastructure

Capital

Inc

7.125

11/15/56

5,678,439

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

54

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FINANCIAL

SERVICES

(continued)

2,355,000

(i)

HA

Sustainable

Infrastructure

Capital

Inc

8.000

%

06/01/56

$

2,480,686

14,286

(a),(b)

Hestia

Re

Ltd

(SOFR

+

0.100%)

3.640

04/22/29

7,143

2,000,000

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.375

02/01/29

1,704,637

5,850,000

JPMorgan

Chase

&

Co

5.103

04/22/31

6,066,845

2,000,000

(f),(g)

Julius

Baer

Group

Ltd,

Reg

S

7.500

N/A

2,093,056

4,065,000

Morgan

Stanley

5.664

04/17/36

4,295,875

2,000,000

(a)

Muthoot

Finance

Ltd

6.375

04/23/29

2,031,353

1,650,000

(a)

Muthoot

Finance

Ltd

5.750

08/04/30

1,649,225

3,429,000

(f),(g)

Nomura

Holdings

Inc

7.000

N/A

3,588,270

1,970,000

(f),(i)

State

Street

Corp

6.700

N/A

2,062,488

2,060,000

(a),(f),(g)

UBS

Group

AG

9.250

N/A

2,409,156

1,000,000

(f),(i)

Voya

Financial

Inc

7.758

N/A

1,051,501

TOTAL

FINANCIAL

SERVICES

50,724,250

FOOD,

BEVERAGE

&

TOBACCO

-

1.1%

1,050,000

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.900

02/01/46

987,625

1,275,000

(a)

Arcor

SAIC

7.600

07/31/33

1,314,398

1,200,000

(a)

Cia

Cervecerias

Unidas

SA

3.350

01/19/32

1,094,477

2,000,000

(a)

Grupo

Nutresa

SA

8.000

05/12/30

2,154,500

1,575,000

Kraft

Heinz

Foods

Co

3.875

05/15/27

1,572,170

2,730,000

(a),(f),(i)

Land

O'

Lakes

Inc

8.000

N/A

2,728,295

2,065,000

(a)

Mars

Inc

5.200

03/01/35

2,138,230

3,035,000

(a)

Mars

Inc

5.700

05/01/55

3,077,653

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

15,067,348

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1.1%

1,400,000

(d)

Abbott

Laboratories

4.000

03/15/31

1,398,892

800,000

(d)

Abbott

Laboratories

5.500

03/15/56

802,750

2,500,000

(a)

Auna

SA

/

Oncosalud

SAC

8.750

11/06/32

2,556,607

1,420,000

Baxter

International

Inc

4.450

02/15/29

1,426,156

800,000

(a)

CHS/Community

Health

Systems

Inc

10.875

01/15/32

866,981

2,205,000

CVS

Health

Corp

5.050

03/25/48

1,966,203

1,650,000

CVS

Health

Corp

5.450

09/15/35

1,704,198

1,500,000

(a)

Rede

D'or

Finance

Sarl

6.450

09/09/35

1,543,612

1,675,000

UnitedHealth

Group

Inc

5.050

04/15/53

1,522,693

1,700,000

UnitedHealth

Group

Inc

5.500

07/15/44

1,693,278

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

15,481,370

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0.1%

1,740,000

Haleon

US

Capital

LLC

3.625

03/24/32

1,676,529

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

1,676,529

INSURANCE

-

1.7%

1,600,000

(a),(i)

Allianz

SE

6.350

09/06/53

1,716,924

1,610,000

(a)

APH

Somerset

Investor

2

LLC

/

APH2

Somerset

Investor

2

LLC

/

APH3

Somerset

Inves

7.875

11/01/29

1,559,800

580,000

Arthur

J

Gallagher

&

Co

5.150

02/15/35

587,938

1,500,000

(a)

ASURION

LLC/ASURION

CO

8.375

02/01/34

1,492,750

2,835,000

(i)

AXIS

Specialty

Finance

LLC

4.900

01/15/40

2,791,702

1,485,000

(i)

Enstar

Finance

LLC

5.500

01/15/42

1,474,658

2,424,000

(a),(i)

Enstar

Group

Ltd

7.500

04/01/45

2,525,134

1,000,000

(a),(i)

Hanwha

Life

Insurance

Co

Ltd

3.379

02/04/32

989,236

2,335,000

(a)

Omnis

Funding

Trust

6.722

05/15/55

2,433,893

2,900,000

(i)

Prudential

Financial

Inc

6.500

03/15/54

3,056,095

1,000,000

(a),(b)

Vitality

Re

XIV

Ltd

(Federated

Hermes

U.S.

Treasury

Cash

Reserves

+

3.500%)

7.812

01/05/27

1,012,000

1,000,000

(a),(b)

Vitality

Re

XV

Ltd

(

+

2.500%)

0.000

01/07/28

1,008,300

1,500,000

(a),(b)

Vitality

Re

XVI

Ltd

(3-Month

U.S.

Treasury

Bill

+

1.750%)

6.049

01/08/29

1,489,650

1,000,000

(a),(b)

Vitality

Re

XVII

Ltd

(

+

2.000%)

0.000

01/08/30

998,500

TOTAL

INSURANCE

23,136,580

MATERIALS

-

1.2%

1,700,000

(a)

Alpek

SAB

de

CV

4.250

09/18/29

1,523,159

950,000

(a)

Antofagasta

PLC

5.625

09/09/35

982,253

1,275,000

(a),(f),(i)

Cemex

SAB

de

CV

7.200

N/A

1,342,575

55

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MATERIALS

(continued)

1,025,000

(a)

Corp

Nacional

del

Cobre

de

Chile

6.440

%

01/26/36

$

1,121,310

1,750,000

(a)

Corp

Nacional

del

Cobre

de

Chile

6.330

01/13/35

1,893,290

1,120,000

(a)

Freeport

Indonesia

PT

5.315

04/14/32

1,145,192

1,525,000

(a)

LD

Celulose

International

GmbH

7.950

01/26/32

1,609,880

1,025,000

(a)

OCP

SA

3.750

06/23/31

966,734

500,000

(a)

OCP

SA

6.700

03/01/36

539,125

2,000,000

(a)

Sasol

Financing

USA

LLC

8.750

05/03/29

2,049,890

1,500,000

Suzano

Austria

GmbH

3.125

01/15/32

1,358,208

1,435,000

Suzano

Netherlands

BV

5.500

01/15/36

1,450,067

750,000

(a)

Volcan

Cia

Minera

SAA

8.500

10/28/32

784,282

TOTAL

MATERIALS

16,765,965

MEDIA

&

ENTERTAINMENT

-

0.4%

900,000

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

6.550

06/01/34

957,174

1,200,000

(a)

Gray

Media

Inc

7.250

08/15/33

1,239,122

2,500,000

Grupo

Televisa

SAB

6.125

01/31/46

1,935,392

1,090,000

Meta

Platforms

Inc

5.625

11/15/55

1,066,920

TOTAL

MEDIA

&

ENTERTAINMENT

5,198,608

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.2%

1,125,000

Amgen

Inc

5.650

03/02/53

1,122,996

1,500,000

(a),(h)

Bausch

Health

Americas

Inc

8.500

01/31/27

1,486,504

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

2,609,500

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.2%

815,000

Broadcom

Inc

4.300

01/15/31

822,231

675,000

Broadcom

Inc

4.950

01/15/36

684,888

695,000

Broadcom

Inc

5.700

01/15/56

713,674

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

2,220,793

SOFTWARE

&

SERVICES

-

0.1%

700,000

Oracle

Corp

5.200

09/26/35

676,447

305,000

Oracle

Corp

5.950

09/26/55

268,398

1,000,000

Oracle

Corp

5.700

02/04/36

1,000,560

TOTAL

SOFTWARE

&

SERVICES

1,945,405

TELECOMMUNICATION

SERVICES

-

1.6%

3,460,000

AT&T

Inc

3.800

12/01/57

2,427,383

1,150,000

AT&T

Inc

5.400

02/15/34

1,205,370

2,000,000

(a)

Cipher

Compute

LLC

7.125

11/15/30

2,084,688

775,000

(a)

CT

Trust

5.125

02/03/32

746,197

1,900,000

(a)

Level

3

Financing

Inc

6.875

06/30/33

1,967,782

907,000

(a)

Liberty

Costa

Rica

Senior

Secured

Finance

10.875

01/15/31

963,688

1,000,000

(a),(f),(i)

Network

i2i

Ltd

3.975

N/A

997,937

2,544,000

(i)

Rogers

Communications

Inc

7.125

04/15/55

2,694,276

1,375,000

(a)

Sitios

Latinoamerica

SAB

de

CV

5.375

04/04/32

1,383,749

1,450,000

(a)

STC

SUKUK

CO

II

LTD

4.489

01/15/31

1,453,716

2,250,000

(a)

Turk

Telekomunikasyon

AS

6.950

10/07/32

2,304,216

1,000,000

(a)

Veon

Midco

BV

3.375

11/25/27

961,131

2,054,064

(a)

Zayo

Group

Holdings

Inc

9.250

03/09/30

2,002,677

TOTAL

TELECOMMUNICATION

SERVICES

21,192,810

TRANSPORTATION

-

0.9%

$

500,000

(a)

Adani

Ports

&

Special

Economic

Zone

Ltd

3.100

02/02/31

455,521

1,096,631

American

Airlines

2021-1

Class

A

Pass

Through

Trust2021

2021

2.875

07/11/34

1,011,092

550,000

(a)

Corp

Quiport

SA

9.000

12/15/37

600,873

1,500,000

(a)

Grupo

Aeromexico

SAB

de

CV

8.250

11/15/29

1,535,625

975,000

(a)

Kingston

Airport

Revenue

Finance

Ltd

6.750

12/15/36

1,005,127

3,000,000

(a)

Latam

Airlines

Group

SA

7.625

01/07/31

3,141,600

2,575,000

(a)

Montego

Bay

Airport

Revenue

Finance

Ltd

6.600

06/15/35

2,586,588

1,500,000

(a)

Transnet/South

Africa

8.250

02/06/28

1,580,748

TOTAL

TRANSPORTATION

11,917,174

UTILITIES

-

3.7%

2,900,000

(i)

AES

Corp/The

6.950

07/15/55

2,802,873

1,181,374

(a)

Alfa

Desarrollo

SpA2021

1

4.550

09/27/51

963,292

2,625,000

(a)

Colbun

SA

5.375

09/11/35

2,648,625

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

56

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

VALUE

MATURITY

VALUE

UTILITIES

(continued)

$

2,000,000

(a)

Comision

Federal

de

Electricidad

3.348

%

02/09/31

$

1,838,604

1,400,000

(a)

Comision

Federal

de

Electricidad

0.000

01/28/34

1,415,750

1,250,000

Consumers

Energy

Co

4.500

01/15/31

1,275,537

1,411,125

(a)

Continuum

Green

Energy

India

Pvt

/

Co-Issuers

7.500

06/26/33

1,468,778

2,000,000

(i)

Dominion

Energy

Inc

7.000

06/01/54

2,171,162

825,000

DTE

Electric

Co

5.850

05/15/55

857,194

850,000

DTE

Electric

Co

5.200

03/01/34

888,275

2,200,000

Duke

Energy

Progress

LLC

5.350

03/15/53

2,123,544

1,575,000

Duke

Energy

Progress

LLC

5.050

03/15/35

1,616,296

800,000

(a)

Empresas

Publicas

de

Medellin

ESP

4.375

02/15/31

736,691

1,550,000

(a)

Energuate

Trust

2

0

6.350

09/15/35

1,579,498

950,000

(a)

Eskom

Holdings

6.350

08/10/28

980,921

2,225,000

(i)

EUSHI

Finance

Inc

7.625

12/15/54

2,348,899

1,900,000

(a)

Ferrellgas

LP

/

Ferrellgas

Finance

Corp

5.875

04/01/29

1,836,743

980,000

Idaho

Power

Co

4.850

03/01/36

980,883

1,475,000

(a)

Israel

Electric

Corp

Ltd,

Reg

S

5.633

01/28/38

1,498,214

1,300,000

(a)

Kallpa

Generacion

SA

5.500

09/11/35

1,316,250

1,575,000

(a)

Perusahaan

Perseroan

Persero

PT

Perusahaan

Listrik

Negara

5.450

02/03/36

1,574,839

2,500,000

(i)

PG&E

Corp

7.375

03/15/55

2,586,257

1,500,000

(a)

ReNew

Wind

Energy

AP2

/

ReNew

Power

Pvt

Ltd

other

9

Subsidiaries

4.500

07/14/28

1,451,883

1,500,000

(a)

Saavi

Energia

Sarl

8.875

02/10/35

1,656,000

670,597

(a)

Sweihan

PV

Power

Co

PJSC2022

1

3.625

01/31/49

573,468

2,250,000

(a)

Talen

Energy

Supply

LLC

6.500

02/01/36

2,313,378

529,191

(a)

UEP

Penonome

II

SA2020

1

6.500

10/01/38

470,996

3,479,000

(a),(f),(i)

Vistra

Corp

8.875

N/A

3,832,014

1,100,000

(a)

Vistra

Operations

Co

LLC

5.350

01/31/36

1,107,615

2,105,000

Wisconsin

Public

Service

Corp

4.250

01/15/31

2,125,522

1,500,000

(a)

XPLR

Infrastructure

Operating

Partners

LP

8.625

03/15/33

1,587,741

TOTAL

UTILITIES

50,627,742

TOTAL

CORPORATE

BONDS

(Cost

$437,415,913)

445,406,962

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

-

28.5%

–

1,422,000

(b)

3650R

2021-PF1

Commercial

Mortgage

Trust,

Series

2022

PF2

5.291

11/15/55

1,460,075

2,000,000

(a),(b)

Alen

2021-ACEN

Mortgage

Trust,

Series

2021

ACEN,

(TSFR1M

+

4.114%)

7.774

04/15/34

1,549,971

2,000,000

(a)

Angel

Oak

Mortgage

Trust,

Series

2025

12

5.767

12/25/70

2,021,980

2,500,000

(a),(b)

ARDN

2025-ARCP

Mortgage

Trust,

Series

2025

ARCP,

(TSFR1M

+

1.750%)

5.410

06/15/35

2,510,067

2,500,000

(a),(b)

ARDN

2025-ARCP

Mortgage

Trust,

Series

2025

ARCP,

(TSFR1M

+

3.000%)

6.660

06/15/35

2,504,364

1,000,000

(a),(b)

ARDN

2025-ARCP

Mortgage

Trust,

Series

2025

ARCP,

(TSFR1M

+

4.500%)

8.160

06/15/35

1,001,845

219,339

(a),(b)

Arroyo

Mortgage

Trust

2019-3,

Series

2019

3

3.416

10/25/48

213,051

3,500,000

(a),(b)

BAMLL

Trust

2025-ASHF,

Series

2025

ASHF,

(TSFR1M

+

2.350%)

6.010

02/15/42

3,507,632

1,200,000

(b)

BANK,

Series

2017

BNK5

4.190

06/15/60

1,153,311

2,500,000

(b)

BANK

2017-BNK8,

Series

2017

BNK8

4.089

11/15/50

2,107,958

2,700,000

(b)

BANK

2019-BNK18,

Series

2019

BN18

4.214

05/15/62

2,325,944

2,000,000

(a)

BANK

2019-BNK21,

Series

2019

BN21

2.500

10/17/52

1,515,953

4,000,000

BANK

2025-BNK51,

Series

2025

BNK51

5.544

12/25/67

4,206,863

2,000,000

(b)

BANK5

2024-5YR5

6.539

02/15/29

2,096,758

3,750,000

Barclays

Commercial

Mortgage

Trust

2019-C4,

Series

2019

C4

3.469

08/15/52

3,142,168

2,000,000

(b)

BBCMS

Mortgage

Trust

2022-C16,

Series

2022

C16

4.600

06/15/55

1,956,458

3,925,000

(a),(b)

BBCMS

Trust

2015-SRCH,

Series

2015

SRCH

4.957

08/10/35

3,782,384

3,000,000

(a),(b)

BBCMS

Trust

2018-CBM,

Series

2018

CBM,

(TSFR1M

+

1.488%)

6.817

07/15/37

2,852,162

3,400,000

(b)

Benchmark

2018-B1

Mortgage

Trust,

Series

2018

B1

4.201

01/15/51

2,827,899

3,750,000

(b)

Benchmark

2018-B2

Mortgage

Trust,

Series

2018

B2

4.291

02/15/51

2,972,380

3,500,000

(b)

Benchmark

2018-B3

Mortgage

Trust,

Series

2018

B3

4.553

04/10/51

2,946,609

3,837,000

(b)

Benchmark

2019-B10

Mortgage

Trust,

Series

2019

B10

4.180

03/15/62

3,505,157

57

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

(continued)

$

3,750,000

(b)

Benchmark

2019-B14

Mortgage

Trust,

Series

2019

B14

3.778

%

12/15/62

$

2,703,806

1,500,000

Benchmark

2019-B14

Mortgage

Trust,

Series

2019

B14

3.493

12/15/62

1,249,060

1,000,000

(a)

Benchmark

2019-B14

Mortgage

Trust,

Series

2019

B14

2.500

12/15/62

402,258

5,000,000

Benchmark

2019-B15

Mortgage

Trust,

Series

2019

B15

3.564

12/15/72

4,391,839

2,500,000

(b)

Benchmark

2019-B15

Mortgage

Trust,

Series

2019

B15

3.713

12/15/72

2,051,287

1,750,000

Benchmark

2019-B9

Mortgage

Trust,

Series

2019

B9

4.267

03/15/52

1,665,239

4,000,000

(b)

Benchmark

2019-B9

Mortgage

Trust,

Series

2019

B9

4.971

03/15/52

3,555,500

1,000,000

(a),(b)

Benchmark

2020-IG2

Mortgage

Trust,

Series

2020

IG2

2.791

09/15/48

853,686

1,000,000

(a),(b)

Benchmark

2020-IG3

Mortgage

Trust,

Series

2020

IG3

3.536

09/15/48

977,116

2,250,000

Benchmark

2021-B23

Mortgage

Trust,

Series

2021

B23

2.095

02/15/54

1,759,467

2,000,000

Benchmark

Mortgage

Trust

Series

-

2019

B12

(Class

C)

3.873

08/15/52

1,666,513

1,500,000

(b)

BMO

2024-C9

Mortgage

Trust,

Series

2024

C9

6.340

07/15/57

1,610,019

2,000,000

(a),(b)

BPR

2023-STON

Mortgage

Trust,

Series

2023

STON

7.871

12/05/39

2,069,501

3,000,000

(a),(b)

BSST

2022-1700

Mortgage

Trust,

Series

2022

1700,

(TSFR1M

+

1.300%)

4.960

02/15/37

2,644,601

2,500,000

(a),(b)

BX

Commercial

Mortgage

Trust

2024-BRBK,

Series

2024

BRBK,

(TSFR1M

+

4.874%)

8.538

10/15/41

2,505,957

2,200,000

(a),(b)

BX

Trust,

Series

2025

DELC,

(TSFR1M

+

3.050%)

6.710

12/15/42

2,209,405

2,400,000

(a),(b)

BX

Trust

2025-OMG,

Series

2025

OMG,

(TSFR1M

+

2.400%)

6.060

10/15/42

2,405,679

3,500,000

(b)

Cantor

Commercial

Real

Estate

Lending

2019-CF1,

Series

2019

CF1

4.352

05/15/52

2,943,202

705,000

(b)

CD

2016-CD1

Mortgage

Trust,

Series

2016

CD1

3.631

08/10/49

400,633

2,000,000

(b)

CD

Mortgage

Trust,

Series

2017

CD3

3.984

02/10/50

1,344,058

750,000

(a),(b)

CF

2020-P1

Mortgage

Trust,

Series

2020

P1

3.603

04/15/52

703,795

47,824

(a),(b)

CF

2020-P1

Mortgage

Trust,

Series

2020

P1

2.840

04/15/52

47,552

3,500,000

(a),(b)

CIP

Commercial

Mortgage

Trust

2025-SBAY,

Series

2025

SBAY,

(TSFR1M

+

2.300%)

6.400

10/15/37

3,510,918

430,842

(a),(b)

Citigroup

Commercial

Mortgage

Trust

2014-GC23,

Series

2014

GC23

4.599

07/10/47

414,087

1,690,000

(b)

Citigroup

Commercial

Mortgage

Trust

2015-GC29,

Series

2015

GC29

3.974

04/10/48

1,544,131

1,388,238

(b)

Citigroup

Commercial

Mortgage

Trust

2015-GC29,

Series

2015

GC29

3.758

04/10/48

1,344,348

1,719,983

Citigroup

Commercial

Mortgage

Trust

2016-GC37,

Series

2016

GC37

4.233

04/10/49

1,692,420

4,000,000

(b)

Citigroup

Commercial

Mortgage

Trust

2016-P3,

Series

2016

P3

4.271

04/15/49

3,856,526

2,500,000

(b)

Citigroup

Commercial

Mortgage

Trust

2017-C4,

Series

2017

C4

4.136

10/12/50

2,413,784

2,260,000

(b)

Citigroup

Commercial

Mortgage

Trust

2017-P8,

Series

2017

P8

4.254

09/15/50

1,866,808

1,574,000

Citigroup

Commercial

Mortgage

Trust

2019-GC41,

Series

2019

GC41

3.502

08/10/56

1,372,670

2,000,000

(a),(b)

COLT

2025-11

Mortgage

Loan

Trust,

Series

2025

11

5.952

11/25/70

2,023,908

1,686,031

COMM

2014-CCRE17

Mortgage

Trust,

Series

2014

CR17

4.377

05/10/47

1,669,583

507,276

(b)

COMM

2014-CR14

Mortgage

Trust,

Series

2014

CR14

3.597

02/10/47

502,337

2,000,000

(b)

COMM

2014-UBS3

Mortgage

Trust,

Series

2014

UBS3

4.630

06/10/47

1,866,550

2,000,000

(a),(b)

COMM

2014-UBS3

Mortgage

Trust,

Series

2014

UBS3

4.767

06/10/47

1,049,958

1,840,000

(b)

COMM

2015-CCRE22

Mortgage

Trust,

Series

2015

CR22

3.695

03/10/48

1,719,056

2,000,000

(a)

COMM

2015-CCRE22

Mortgage

Trust,

Series

2015

CR22

3.000

03/10/48

1,180,640

1,500,000

(b)

COMM

2015-CCRE24

Mortgage

Trust,

Series

2015

CR24

3.463

08/10/48

1,401,229

363,982

(b)

COMM

2015-CCRE24

Mortgage

Trust,

Series

2015

CR24

4.256

08/10/48

360,953

365,568

(b)

COMM

2015-CCRE25

Mortgage

Trust,

Series

2015

CR25

3.768

08/10/48

357,571

3,000,000

(b)

COMM

2015-CCRE26

Mortgage

Trust,

Series

2015

CR26

4.613

10/10/48

2,841,360

1,634,365

(b)

COMM

2015-LC23

Mortgage

Trust,

Series

2015

LC23

4.684

10/10/48

1,582,662

4,000,000

(b)

COMM

2018-COR3

Mortgage

Trust,

Series

2018

COR3

4.538

05/10/51

3,500,517

2,500,000

(b)

COMM

2019-GC44

Mortgage

Trust,

Series

2019

GC44

3.514

08/15/57

2,102,891

4,830,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2021-R03,

Series

2021

R03,

(SOFR30A

+

5.500%)

9.167

12/25/41

4,978,466

5,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R01,

Series

2022

R01,

(SOFR30A

+

6.000%)

9.667

12/25/41

5,175,660

6,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R02,

Series

2022

R02,

(SOFR30A

+

7.650%)

12.972

01/25/42

6,292,810

4,500,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R03,

Series

2022

R03,

(SOFR30A

+

9.850%)

14.823

03/25/42

4,880,211

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

58

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

(continued)

$

5,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R04,

Series

2022

R04,

(SOFR30A

+

9.500%)

14.837

%

03/25/42

$

5,403,755

5,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R05,

Series

2022

R05,

(SOFR30A

+

7.000%)

10.667

04/25/42

5,317,533

6,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R06,

Series

2022

R06,

(SOFR30A

+

10.600%)

15.334

05/25/42

6,634,908

4,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2022-R07,

Series

2022

R07,

(SOFR30A

+

12.000%)

15.667

06/25/42

4,523,605

3,350,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R02,

Series

2023

R02,

(SOFR30A

+

7.900%)

11.567

01/25/43

3,722,583

2,640,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R02,

Series

2023

R02,

(SOFR30A

+

5.550%)

9.217

01/25/43

2,829,857

5,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R04,

Series

2023

R04,

(SOFR30A

+

8.250%)

11.917

05/25/43

5,709,563

1,415,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R05,

Series

2023

R05,

(SOFR30A

+

6.850%)

10.517

06/25/43

1,579,146

2,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R05,

Series

2023

R05,

(SOFR30A

+

4.750%)

8.417

06/25/43

2,135,436

5,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R06,

Series

2023

R06,

(SOFR30A

+

3.900%)

9.188

07/25/43

5,276,717

6,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R06,

Series

2023

R06,

(SOFR30A

+

5.900%)

9.567

07/25/43

6,571,915

6,000,000

(a),(b)

Connecticut

Avenue

Securities

Trust

2023-R08,

Series

2023

R08,

(SOFR30A

+

3.550%)

7.217

10/25/43

6,275,647

1,900,000

CSAIL

2019-C17

Commercial

Mortgage

Trust,

Series

2019

C17

3.480

09/15/52

1,702,845

3,995,185

(a),(b)

CSMC

2021-INV2

Trust,

Series

2021

INV2

3.283

11/25/56

3,428,399

1,000,000

(a),(b)

CSMC

2021-NQM1,

Series

2021

NQM1

2.130

05/25/65

825,624

3,500,000

(b)

CSMC

Trust

2016-NXSR,

Series

2016

NXSR

4.422

12/15/49

3,391,011

1,871,000

(b)

CSMC

Trust

2016-NXSR,

Series

2016

NXSR

4.251

12/15/49

1,822,325

1,072,714

DBJPM

2016-C3

Mortgage

Trust,

Series

2016

C3

3.264

08/10/49

1,032,258

1,300,000

(a),(b)

DBSG

2024-ALTA

Mortgage

Trust,

Series

2024

ALTA

7.296

06/10/37

1,310,825

30,450,000

(a),(b)

DOLP

Trust

2021-NYC,

Series

2021

NYC,

(I/O)

0.665

05/10/41

818,825

5,821,927

Fannie

Mae

Pool,

FN

MA5107

5.500

08/01/53

5,935,304

128,978

(b)

Fannie

Mae

REMICS,

Series

2013

98,

(SOFR30A

+

5.836%),

(I/O)

2.168

09/25/43

14,486

1,776,591

(a),(b)

Flagstar

Mortgage

Trust

2021-11INV,

Series

2021

11IN

3.449

11/25/51

1,516,926

11,088,808

(b)

Freddie

Mac

Multifamily

ML

Certificates,

Series

2021

ML12,

(I/O)

1.227

07/25/41

977,035

6,000,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA1,

Series

2022

DNA1,

(SOFR30A

+

7.100%)

10.767

01/25/42

6,280,744

6,000,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA2,

Series

2022

DNA2,

(SOFR30A

+

8.500%)

13.788

02/25/42

6,388,639

6,000,000

(a),(b)

Freddie

Mac

STACR

REMIC

Trust

2022-DNA3,

Series

2022

DNA3,

(SOFR30A

+

9.750%)

15.087

04/25/42

6,527,736

1,362,223

(b)

Government

National

Mortgage

Association,

Series

2023

96,

(SOFR30A

+

26.100%)

10.172

07/20/53

1,522,568

2,165,700

(b)

Government

National

Mortgage

Association,

Series

2023

111,

(SOFR30A

+

23.205%)

8.925

08/20/53

2,463,561

1,081,000

(a),(b)

GS

Mortgage

Securities

Corp

Trust

2018-TWR,

Series

2018

TWR,

(TSFR1M

+

1.497%)

3.449

07/15/31

334,840

1,500,000

(a),(b)

GS

Mortgage

Securities

Corp

Trust

2018-TWR,

Series

2018

TWR,

(TSFR1M

+

1.897%)

5.557

07/15/31

157,500

1,000,000

(b)

GS

Mortgage

Securities

Trust

2016-GS3,

Series

2016

GS3

3.953

10/10/49

971,615

3,000,000

(b)

GS

Mortgage

Securities

Trust

2016-GS4,

Series

2016

GS4

3.908

11/10/49

2,808,815

2,300,000

GS

Mortgage

Securities

Trust

2017-GS7,

Series

2017

GS7

4.236

08/10/50

2,086,655

1,500,000

(b)

GS

Mortgage

Securities

Trust

2018-GS10,

Series

2018

GS10

4.547

07/10/51

1,373,241

6,000,000

(b)

GS

Mortgage

Securities

Trust

2018-GS9,

Series

2018

GS9

4.343

03/10/51

5,190,552

1,425,000

(b)

GS

Mortgage

Securities

Trust

2019-GC38,

Series

2019

GC38

4.158

02/10/52

1,398,609

1,000,000

GS

Mortgage

Securities

Trust

2020-GSA2,

Series

2020

GSA2

2.012

12/12/53

895,111

6,292,001

(a),(b)

GS

Mortgage-Backed

Securities

Trust

2022-PJ1,

Series

2022

PJ1

2.829

05/28/52

5,283,929

3,000,000

(a),(b)

Houston

Galleria

Mall

Trust

2025-HGLR,

Series

2025

HGLR

5.462

02/05/45

3,170,286

2,000,000

(a),(b)

HTL

Commercial

Mortgage

Trust

2024-T53,

Series

2024

T53

7.088

05/10/39

2,027,836

59

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

(continued)

$

1,500,000

(a),(b)

ILPT

Commercial

Mortgage

Trust

2025-LPF2,

Series

2025

LPF2

5.829

%

07/13/42

$

1,542,796

277,077

(b)

Impac

Secured

Assets

CMN

Owner

Trust,

Series

2000

3

8.000

10/25/30

262,234

2,000,000

(a),(b)

Imperial

Fund

Mortgage

Trust

2020-NQM1,

Series

2020

NQM1

3.531

10/25/55

1,928,923

165,651

(a),(b)

Imperial

Fund

Mortgage

Trust

2020-NQM1,

Series

2020

NQM1

2.051

10/25/55

159,529

450,000

(a),(b)

Imperial

Fund

Mortgage

Trust

2021-NQM1,

Series

2021

NQM1

2.383

06/25/56

358,845

2,000,000

(a),(b)

IP

2025-IP

Mortgage

Trust,

Series

2025

IP

7.712

06/10/42

2,048,210

2,348,187

(a),(b)

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2022-NLP,

Series

2022

NLP,

(TSFR1M

+

2.858%)

7.918

04/15/37

2,304,813

939,275

(a),(b)

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2022-NLP,

Series

2022

NLP,

(TSFR1M

+

1.730%)

5.389

04/15/37

926,089

4,585,590

(a),(b)

J.P.

Morgan

Mortgage

Trust

2022-LTV2,

Series

2022

LTV2

3.665

09/25/52

4,040,754

126,438

(b)

JP

Morgan

Alternative

Loan

Trust

2007-S1,

Series

2007

S1,

(TSFR1M

+

0.674%)

4.348

04/25/47

122,373

2,000,000

(a)

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2020-

NNN,

Series

2020

NNN

3.065

01/16/37

1,629,481

2,239,042

(a),(b)

JP

Morgan

Mortgage

Trust,

Series

2025

10

6.402

05/25/56

2,344,780

1,288,889

(a),(b)

JP

Morgan

Mortgage

Trust

2020-INV1,

Series

2020

INV1

4.186

08/25/50

1,171,662

1,500,000

(b)

JPMBB

Commercial

Mortgage

Securities

Trust

2015-C31,

Series

2015

C31

4.652

08/15/48

1,424,015

2,500,000

(b)

JPMBB

Commercial

Mortgage

Securities

Trust

2015-C31,

Series

2015

C31

4.652

08/15/48

1,978,165

3,750,000

(a),(b)

JPMBB

Commercial

Mortgage

Securities

Trust

2015-C33,

Series

2015

C33

4.136

12/15/48

3,304,687

1,500,000

(b)

JPMBB

Commercial

Mortgage

Securities

Trust

2016-C1,

Series

2016

C1

4.628

03/17/49

1,459,889

1,400,000

(a),(b)

JPMBB

Commercial

Mortgage

Securities

Trust

2016-C1,

Series

2016

C1

4.128

03/17/49

1,318,201

2,000,000

(b)

JPMCC

Commercial

Mortgage

Securities

Trust

2017-JP6,

Series

2017

JP6

3.683

07/15/50

1,809,174

1,400,000

(a),(b)

JPMCC

Commercial

Mortgage

Securities

Trust

2017-JP7,

Series

2017

JP7

4.422

09/15/50

1,001,231

2,000,000

(b)

JPMCC

Commercial

Mortgage

Securities

Trust

2017-JP7,

Series

2017

JP7

3.672

09/15/50

1,778,128

3,500,000

JPMCC

Commercial

Mortgage

Securities

Trust

2019-COR4,

Series

2019

COR4

4.440

03/10/52

3,220,084

4,000,000

JPMDB

Commercial

Mortgage

Securities

Trust

2017-C7,

Series

2017

C7

3.985

10/15/50

3,818,853

190,000

(a)

Ladder

Capital

Commercial

Mortgage

2013-GCP

Mortgage

Trust,

Series

2013

GCP

3.985

02/15/36

179,781

3,015,000

(a)

Legends

Outlets

Kansas

City

KS

Mortgage

Secured

Pass-

Through

Trust,

Series

2024

LGND

6.733

11/05/39

3,026,512

1,037,764

(a),(b)

MCR

2024-HF1

Mortgage

Trust,

Series

2024

HF1,

(TSFR1M

+

2.841%)

7.204

12/15/41

1,041,456

3,250,000

(a),(b)

MFT

Trust

2020-ABC,

Series

2020

ABC

3.593

02/10/42

2,467,593

34,356,000

(a),(b)

MFT

Trust

2020-ABC,

Series

2020

ABC,

(I/O)

0.119

02/10/42

183,313

3,022,865

(a)

Morgan

Stanley

Capital

I

Trust

2015-420,

Series

2015

420

7.982

10/12/50

3,153,395

2,765,000

Morgan

Stanley

Capital

I

Trust

2019-H7,

Series

2019

H7

3.524

07/15/52

2,668,431

2,000,000

(a)

MRCD

2019-MARK

Mortgage

Trust,

Series

2019

PARK

2.718

12/15/36

1,532,125

1,000,000

(a),(b)

MTN

Commercial

Mortgage

Trust

2022-LPFL,

Series

2022

LPFL,

(TSFR1M

+

2.943%)

7.773

03/15/39

1,000,687

1,500,000

(a),(b)

Natixis

Commercial

Mortgage

Securities

Trust

2019-MILE,

Series

2019

MILE,

(TSFR1M

+

3.579%)

7.239

07/15/36

1,175,564

1,500,000

(a),(b)

Natixis

Commercial

Mortgage

Securities

Trust

2019-MILE,

Series

2019

MILE,

(TSFR1M

+

4.329%)

7.989

07/15/36

1,068,489

80,568

(a),(b)

New

Residential

Mortgage

Loan

Trust

2015-2,

Series

2015

2A

5.244

08/25/55

80,820

4,000,000

(a),(b)

NYCT

Trust

2024-3ELV,

Series

2024

3ELV,

(TSFR1M

+

2.840%)

6.499

08/15/29

4,013,462

1,150,000

(a)

One

Bryant

Park

Trust

2019-OBP,

Series

2019

OBP

2.516

09/15/54

1,081,075

2,000,000

(a),(b)

PKHL

Commercial

Mortgage

Trust

2021-MF,

Series

2021

MF,

(TSFR1M

+

0.994%)

4.654

07/15/38

1,892,528

3,500,000

(a),(b),(d)

PLYM

Commercial

Mortgage

Trust

2026-IND,

Series

2026

IND,

(TSFR1M

+

2.150%)

5.800

03/15/43

3,506,560

1,300,650

(a),(b)

Santander

Bank

Mortgage

Credit-Linked

Notes,

Series

2023

MTG1,

(SOFR30A

+

4.900%)

9.256

02/26/52

1,502,194

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

60

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED

SECURITIES

(continued)

$

40,180,000

(a),(b)

SLG

Office

Trust

2021-OVA,

Series

2021

OVA,

(I/O)

0.258

%

07/15/41

$

446,058

1,155,000

(a)

SLG

Office

Trust

2021-OVA,

Series

2021

OVA

2.851

07/15/41

1,016,604

1,831,354

(a),(b)

SMR

2022-IND

Mortgage

Trust,

Series

2022

IND,

(TSFR1M

+

3.950%)

7.610

02/15/39

1,841,226

2,100,000

(a),(b)

TX

Trust

2024-HOU,

Series

2024

1,

(TSFR1M

+

3.239%)

6.899

06/15/39

2,113,431

2,511,000

UBS

Commercial

Mortgage

Trust

2017-C1,

Series

2017

C1

4.036

06/15/50

2,425,375

5,100,000

(b)

UBS

Commercial

Mortgage

Trust

2018-C11,

Series

2018

C11

5.044

06/15/51

4,784,702

3,450,000

(b)

UBS

Commercial

Mortgage

Trust

2018-C8,

Series

2018

C8

4.682

02/15/51

3,190,137

2,239,000

(a),(b)

Verus

Securitization

Trust,

Series

2025

11

5.796

11/25/70

2,256,723

2,000,000

(a),(b)

Verus

Securitization

Trust

2021-8,

Series

2021

8

3.288

11/25/66

1,707,349

24,986

(b)

Washington

Mutual

MSC

Mortgage

Pass-Through

Certificates,

Series

2004

RA3

5.446

08/25/38

25,007

2,000,000

(a),(b)

WCORE

Commercial

Mortgage

Trust

2024-CORE,

Series

2024

CORE,

(TSFR1M

+

2.940%)

6.600

11/15/41

2,005,898

2,415,000

(b)

Wells

Fargo

Commercial

Mortgage

Trust

2016-C36,

Series

2016

C36

4.093

11/15/59

2,070,152

2,400,000

(a),(b)

Wells

Fargo

Commercial

Mortgage

Trust

2017-SMP,

Series

2017

SMP,

(TSFR1M

+

0.921%)

6.258

12/15/34

2,236,440

3,000,000

(b)

Wells

Fargo

Commercial

Mortgage

Trust

2024-C63,

Series

2024

C63

5.820

08/15/57

3,194,353

1,500,000

(a),(b)

Wells

Fargo

Commercial

Mortgage

Trust

2025-AGLN,

Series

2025

AGLN,

(TSFR1M

+

2.941%)

6.600

07/15/37

1,502,714

2,400,000

(a),(b)

Wells

Fargo

Commercial

Mortgage

Trust

2025-B33RP,

Series

2025

B33RP,

(TSFR1M

+

2.500%)

6.850

08/15/42

2,417,516

2,500,000

(a),(b)

Wells

Fargo

Commercial

Mortgage

Trust

2025-DWHP,

Series

2025

DWHP,

(TSFR1M

+

3.340%)

7.000

04/15/38

2,510,951

907,835

(a),(b)

Wells

Fargo

Mortgage

Backed

Securities

2021-INV1

Trust,

Series

2021

INV1

3.301

08/25/51

758,864

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost

$395,631,405)

387,492,382

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

120892224

SOVEREIGN

DEBT

-

8.9%

120892224

ANGOLA

-

0.1%

1,725,000

(a),(h)

Angolan

Government

International

Bond

9.375

05/08/48

1,560,707

TOTAL

ANGOLA

1,560,707

ARGENTINA

-

0.1%

2,325,000

Argentine

Republic

Government

International

Bond

4.125

07/09/35

1,752,585

TOTAL

ARGENTINA

1,752,585

AZERBAIJAN

-

0.1%

1,700,000

(a)

Republic

of

Azerbaijan

International

Bond

3.500

09/01/32

1,600,071

TOTAL

AZERBAIJAN

1,600,071

BARBADOS

-

0.2%

2,725,000

(a)

Barbados

Government

International

Bond

8.000

06/26/35

2,913,025

TOTAL

BARBADOS

2,913,025

BENIN

-

0.2%

2,000,000

(a)

Benin

Government

International

Bond

7.960

02/13/38

2,103,968

TOTAL

BENIN

2,103,968

BRAZIL

-

0.4%

BRL

12,400,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

10.000

01/01/33

2,077,657

1,620,000

Brazilian

Government

International

Bond

6.000

10/20/33

1,654,182

1,725,000

Brazilian

Government

International

Bond

7.125

05/13/54

1,752,013

TOTAL

BRAZIL

5,483,852

CHILE

-

0.3%

CLP

1,600,000,000

(a)

Bonos

de

la

Tesoreria

de

la

Republica

en

pesos,

Reg

S

6.000

04/01/33

1,926,605

2,775,000

Chile

Government

International

Bond

3.100

05/07/41

2,191,556

TOTAL

CHILE

4,118,161

61

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLOMBIA

-

0.3%

EUR

1,065,000

Colombia

Government

International

Bond

5.000

%

09/19/32

$

1,221,053

$

2,200,000

Colombia

Government

International

Bond

5.000

06/15/45

1,616,564

875,000

Colombia

Government

International

Bond

6.125

01/21/31

872,944

TOTAL

COLOMBIA

3,710,561

COSTA

RICA

-

0.1%

1,955,000

(a)

Costa

Rica

Government

International

Bond

5.625

04/30/43

1,909,898

TOTAL

COSTA

RICA

1,909,898

COTE

D'IVOIRE

-

0.1%

1,850,000

(a)

Ivory

Coast

Government

International

Bond

6.750

02/25/41

1,763,373

TOTAL

COTE

D'IVOIRE

1,763,373

DOMINICAN

REPUBLIC

-

0.3%

1,775,000

(a)

Dominican

Republic

International

Bond

5.875

01/30/60

1,599,807

2,225,000

(a)

Dominican

Republic

International

Bond

6.950

03/15/37

2,385,200

TOTAL

DOMINICAN

REPUBLIC

3,985,007

ECUADOR

-

0.3%

1,075,000

(a)

Ecuador

Government

International

Bond

9.250

01/29/39

1,088,437

2,800,000

(a)

Ecuador

Government

International

Bond

8.750

01/29/34

2,818,200

TOTAL

ECUADOR

3,906,637

EGYPT

-

0.2%

2,250,000

(a)

Egypt

Government

International

Bond

8.500

01/31/47

2,158,575

TOTAL

EGYPT

2,158,575

EL

SALVADOR

-

0.2%

2,600,000

(a),(h)

El

Salvador

Government

International

Bond

7.625

02/01/41

2,597,400

TOTAL

EL

SALVADOR

2,597,400

GHANA

-

0.2%

137,638

(a)

Ghana

Government

International

Bond

5.000

07/03/29

134,978

2,226,200

(a)

Ghana

Government

International

Bond

5.000

07/03/35

2,015,488

TOTAL

GHANA

2,150,466

GUATEMALA

-

0.1%

1,700,000

(a)

Guatemala

Government

Bond

6.250

08/15/36

1,798,889

TOTAL

GUATEMALA

1,798,889

HONDURAS

-

0.1%

1,675,000

(a)

Honduras

Government

International

Bond

5.625

06/24/30

1,691,750

TOTAL

HONDURAS

1,691,750

HUNGARY

-

0.5%

1,650,000

Hungary

Government

International

Bond

7.625

03/29/41

1,965,888

1,600,000

(a)

Hungary

Government

International

Bond

5.500

03/26/36

1,622,687

1,500,000

(a)

Hungary

Government

International

Bond

5.375

09/26/30

1,554,082

1,300,000

(a)

Magyar

Export-Import

Bank

Zrt

6.125

12/04/27

1,339,241

TOTAL

HUNGARY

6,481,898

ISRAEL

-

0.1%

1,675,000

Israel

Government

International

Bond

5.750

03/12/54

1,636,967

TOTAL

ISRAEL

1,636,967

JORDAN

-

0.2%

600,000

(a)

Jordan

Government

International

Bond

7.375

10/10/47

593,560

2,000,000

(a)

Jordan

Government

International

Bond

5.750

11/12/32

1,963,862

TOTAL

JORDAN

2,557,422

KAZAKHSTAN

-

0.2%

2,225,000

(a)

Kazakhstan

Government

International

Bond

5.500

07/01/37

2,300,448

TOTAL

KAZAKHSTAN

2,300,448

MEXICO

-

1.2%

2,075,000

(a)

Eagle

Funding

Luxco

Sarl

5.500

08/17/30

2,111,084

1,966,000

Mexico

Government

International

Bond

4.750

03/08/44

1,637,678

3,325,000

Mexico

Government

International

Bond

4.280

08/14/41

2,704,223

4,925,000

Mexico

Government

International

Bond

6.400

05/07/54

4,803,353

1,300,000

Mexico

Government

International

Bond

7.375

05/13/55

1,425,190

1,950,000

Mexico

Government

International

Bond

5.850

07/02/32

2,016,008

1,500,000

Mexico

Government

International

Bond

5.625

09/22/35

1,495,500

TOTAL

MEXICO

16,193,036

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

62

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MOROCCO

-

0.1%

$

1,650,000

(a)

Morocco

Government

International

Bond

5.500

%

12/11/42

$

1,600,404

TOTAL

MOROCCO

1,600,404

NIGERIA

-

0.1%

1,575,000

(a)

Nigeria

Government

International

Bond

10.375

12/09/34

1,875,135

TOTAL

NIGERIA

1,875,135

OMAN

-

0.2%

2,950,000

(a)

Oman

Government

International

Bond

6.500

03/08/47

3,197,010

TOTAL

OMAN

3,197,010

PARAGUAY

-

0.3%

2,125,000

(a)

Paraguay

Government

International

Bond

5.600

03/13/48

2,061,132

1,425,000

(a)

Paraguay

Government

International

Bond

6.000

02/09/36

1,530,441

TOTAL

PARAGUAY

3,591,573

PERU

-

0.2%

2,000,000

Peruvian

Government

International

Bond

3.300

03/11/41

1,569,600

1,755,000

Peruvian

Government

International

Bond

5.875

08/08/54

1,768,338

TOTAL

PERU

3,337,938

PHILIPPINES

-

0.2%

1,225,000

Philippine

Government

International

Bond

4.200

03/29/47

1,032,695

1,150,000

Philippine

Government

International

Bond

3.700

02/02/42

960,828

TOTAL

PHILIPPINES

1,993,523

POLAND

-

0.3%

PLN

6,900,000

Republic

of

Poland

Government

Bond

5.000

10/25/34

1,958,671

2,055,000

Republic

of

Poland

Government

International

Bond

5.500

04/04/53

2,017,782

TOTAL

POLAND

3,976,453

REPUBLIC

OF

SERBIA

-

0.1%

1,500,000

(a)

Serbia

International

Bond

6.500

09/26/33

1,638,809

TOTAL

REPUBLIC

OF

SERBIA

1,638,809

ROMANIA

-

0.3%

1,370,000

(a)

Romanian

Government

International

Bond

6.125

01/22/44

1,368,267

450,000

(a)

Romanian

Government

International

Bond

7.625

01/17/53

518,412

2,100,000

(a)

Romanian

Government

International

Bond

5.750

03/24/35

2,124,949

TOTAL

ROMANIA

4,011,628

RWANDA

-

0.1%

1,375,000

(a)

Rwanda

International

Government

Bond

5.500

08/09/31

1,293,470

TOTAL

RWANDA

1,293,470

SAUDI

ARABIA

-

0.2%

2,740,000

(a)

Saudi

Government

International

Bond

3.750

01/21/55

1,975,726

1,500,000

(a)

Saudi

Government

International

Bond

5.625

01/13/35

1,601,646

TOTAL

SAUDI

ARABIA

3,577,372

SENEGAL

-

0.1%

1,600,000

(a)

Senegal

Government

International

Bond

6.250

05/23/33

989,538

700,000

(a)

Senegal

Government

International

Bond

6.750

03/13/48

394,441

TOTAL

SENEGAL

1,383,979

SOUTH

AFRICA

-

0.4%

ZAR

33,600,000

Republic

of

South

Africa

Government

Bond

8.500

01/31/37

2,148,194

1,900,000

Republic

of

South

Africa

Government

International

Bond

5.375

07/24/44

1,597,674

1,575,000

Republic

of

South

Africa

Government

International

Bond

7.300

04/20/52

1,594,982

TOTAL

SOUTH

AFRICA

5,340,850

TURKEY

-

0.4%

1,950,000

Turkiye

Government

International

Bond

7.125

02/12/32

2,039,437

2,000,000

(a)

Turkiye

Ihracat

Kredi

Bankasi

AS

6.375

01/15/31

2,006,734

TOTAL

TURKEY

4,046,171

UGANDA

-

0.2%

UGX

7,046,000,000

Republic

of

Uganda

Government

Bonds

15.800

06/23/39

1,985,470

TOTAL

UGANDA

1,985,470

63

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UKRAINE

-

0.0%

$

55,000

(a)

Ukraine

Government

International

Bond

4.500

%

02/01/29

$

42,102

73,658

(a)

Ukraine

Government

International

Bond

0.000

02/01/35

41,727

15,548

(a)

Ukraine

Government

International

Bond

0.000

02/01/36

8,777

TOTAL

UKRAINE

92,606

URUGUAY

-

0.1%

UYU

66,000,000

Uruguay

Government

International

Bond

9.750

07/20/33

1,957,431

TOTAL

URUGUAY

1,957,431

UZBEKISTAN

-

0.1%

1,600,000

(a)

Republic

of

Uzbekistan

International

Bond

5.375

02/20/29

1,617,706

TOTAL

UZBEKISTAN

1,617,706

TOTAL

SOVEREIGN

DEBT

(Cost

$118,388,753)

120,892,224

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

104907832

U.S.

GOVERNMENT

AND

AGENCY

OBLIGATIONS

-

7.7%

104907832

2,000,000

(f)

CoBank

ACB

6.250

N/A

2,003,926

20,500,000

United

States

Treasury

Note/Bond

4.625

11/15/55

20,464,766

18,000,000

United

States

Treasury

Note/Bond

4.625

11/15/45

18,118,125

25,000,000

United

States

Treasury

Note/Bond

4.625

02/15/46

25,175,781

6,000,000

United

States

Treasury

Note/Bond

4.000

11/15/35

6,021,562

19,000,000

United

States

Treasury

Note/Bond

3.500

12/15/28

19,056,406

7,000,000

United

States

Treasury

Note/Bond

3.375

12/31/27

6,996,172

7,000,000

United

States

Treasury

Note/Bond

3.750

01/31/31

7,071,094

TOTAL

U.S.

GOVERNMENT

AND

AGENCY

OBLIGATIONS

(Cost

$104,015,130)

104,907,832

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

122752734

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

-

9.0%

122752734

AUTOMOBILES

&

COMPONENTS

-

0.2%

2,496,250

(b)

Clarios

Global

LP,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

01/28/32

2,493,654

TOTAL

AUTOMOBILES

&

COMPONENTS

2,493,654

CAPITAL

GOODS

-

1.2%

2,268,287

(b)

Barnes

Group

Inc,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/27/32

2,264,737

2,802,800

(b)

Centuri

Group,

Inc,

Refinance

Term

Loan

B,

(TSFR1M

+

2.000%)

5.671

07/09/32

2,814,362

1,990,000

(b)

Chamberlain

Group

Inc,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

09/08/32

1,986,040

258,497

(b),(j)

Kaman

Corporation,

Delayed

Draw

Term

Loan,

(TSFR3M

+

2.500%)

6.146

02/26/32

258,479

2,727,672

(b)

Kaman

Corporation,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

02/26/32

2,727,482

549,667

(b)

QXO

Inc,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

04/30/32

550,381

997,500

(b)

TK

Elevator

Midco

GmbH,

Term

Loan

B,

(TSFR6M

+

3.000%)

6.377

04/30/30

998,921

2,000,000

(b),(d)

TK

Elevator

US

Newco

Inc,

(TBD)

TBD

TBD

2,002,500

997,475

(b)

TransDigm,

Inc.,

Term

Loan,

(TSFR1M

+

2.500%)

6.173

01/20/32

998,018

1,000,000

(b),(d)

TransDigm,

Inc.,

Term

Loan

J,

(TBD)

TBD

TBD

1,001,125

1,466,511

(b)

Windsor

Holdings

III,

LLC,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

08/01/30

1,466,739

TOTAL

CAPITAL

GOODS

17,068,784

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1.1%

4,987,500

(b)

Allied

Universal

Holdco

LLC,

Term

Loan

B,

(TSFR1M

+

3.250%)

6.923

08/20/32

4,995,729

1,000,000

(b)

Dayforce,

Inc.,

Term

Loan,

(TSFR3M

+

3.000%)

6.663

02/04/33

924,290

994,975

(b)

Garda

World

Security

Corporation,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.421

02/01/29

994,667

2,992,500

(b)

GFL

Environmental

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.273

03/03/32

2,999,981

2,455,000

(b)

Openlane

Inc,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.140

10/08/32

2,458,081

995,006

(b)

WIN

Waste

Innovations

Holdings,

Inc.,

First

Lien

Term

Loan,

(TSFR1M

+

3.250%)

7.037

03/27/28

999,205

1,000,000

(b),(d)

WIN

Waste

Innovations

Holdings,

Inc.,

Term

Loan

B,

(TBD)

TBD

TBD

1,002,420

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

14,374,373

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

64

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0.3%

$

2,490,077

(b)

Les

Schwab

Tire

Centers,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.173

%

04/23/31

$

2,492,417

2,192,865

(b)

Wand

NewCo

3,

Inc.,

Repriced

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

01/30/31

2,183,732

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

4,676,149

CONSUMER

DURABLES

&

APPAREL

-

0.1%

1,492,481

(b)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

2.750%)

6.416

07/31/28

1,487,817

TOTAL

CONSUMER

DURABLES

&

APPAREL

1,487,817

CONSUMER

SERVICES

-

0.3%

989,720

(b)

Alterra

Mountain

Company,

Term

Loan

B8,

(TSFR1M

+

2.500%)

6.173

05/31/30

992,194

1,000,000

(b)

Camelot

U.S.

Acquisition

LLC,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

01/31/31

851,670

2,328,006

(b)

GVC

Holdings

(Gibraltar)

Limited,

Term

Loan

B6

(2029),

(TSFR3M

+

2.250%)

5.922

10/31/29

2,323,013

TOTAL

CONSUMER

SERVICES

4,166,877

FOOD,

BEVERAGE

&

TOBACCO

-

0.2%

89,525

(b)

City

Brewing

Company,

LLC,

PIK

First

Out

Term

Loan,

(TSFR3M

+

7.000%),

(cash

10.673%,

PIK

7.000%)

10.673

09/30/30

13,429

17,104

(b)

City

Brewing

Company,

LLC,

PIK

Super

Priority

Term

Loan,

(TSFR3M

+

7.000%),

(cash

10.673%,

PIK

7.000%)

10.673

09/30/30

7,697

2,000,000

(b),(d)

Froneri

Lux

Finco

Sarl,

Term

Loan,

(TBD)

TBD

TBD

1,957,500

120,690

(b),(j)

Sauer

Brands

Inc,

Delayed

Draw

Term

Loan

3.000

02/19/32

121,017

1,272,914

(b)

Sauer

Brands

Inc,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.667

02/19/32

1,276,363

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

3,376,006

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1.1%

1,850,700

(b)

Bausch

&

Lomb

Corporation,

Repriced

Term

Loan,

(TSFR1M

+

3.750%)

7.423

01/15/31

1,854,864

3,000,000

(b),(d)

Medline

Borrower,

LP,

Term

Loan

B,

(TBD)

TBD

TBD

3,007,665

3,000,000

(b),(d)

Opal

Bidco

SAS,

First

Lien

Term

Loan

B,

(TBD)

TBD

TBD

3,000,375

1,985,025

(b),(k)

Phoenix

Guarantor

Inc,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

02/21/31

1,985,164

835,178

(b)

Surgery

Center

Holdings,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

12/19/30

837,266

2,000,000

(b),(d)

Team

Health

Holdings,

Inc.,

Repriced

Term

Loan

B,

(TBD)

TBD

TBD

2,001,250

1,989,950

(b)

Zelis

Payments

Buyer,

Inc.,

5th

Amendment

Term

Loan,

(TSFR1M

+

3.250%)

6.923

11/26/31

1,884,095

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

14,570,679

INSURANCE

-

1.4%

1,984,963

(b)

Acrisure,

LLC,

First

Lien

Term

Loan

B6,

(TSFR1M

+

3.000%)

6.673

11/06/30

1,927,895

1,992,500

(b)

Alera

Group,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

05/28/32

1,902,279

1,000,000

(b)

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

09/19/31

979,580

1,237,500

(b)

AmWINS

Group,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.000%)

5.673

01/30/32

1,226,672

2,985,000

(b)

Asurion

LLC,

Term

Loan

B13,

(TSFR1M

+

4.250%)

7.923

09/19/30

2,980,896

3,617,079

(b)

Broadstreet

Partners,

Inc.,

Term

Loan

B4,

(TSFR1M

+

2.500%)

6.173

06/16/31

3,473,156

997,055

(b)

HUB

International

Limited,

Term

Loan

B,

(TSFR3M

+

2.250%)

5.920

06/20/30

987,753

1,980,025

(b)

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

B,

(TSFR1M

+

2.500%)

6.173

07/31/31

1,923,594

3,595,081

(b)

Truist

Insurance

Holdings

LLC,

Term

Loan

B,

(TSFR3M

+

2.750%)

6.422

05/06/31

3,537,559

TOTAL

INSURANCE

18,939,384

MATERIALS

-

0.8%

1,492,147

(b)

Charter

NEX

US,

Inc.,

Repriced

Term

Loan

B,

(TSFR1M

+

2.500%)

6.171

12/02/30

1,493,079

3,441,350

(b)

Clydesdale

Acquisition

Holdings

Inc,

Term

Loan

B,

(TSFR1M

+

3.175%)

6.848

04/13/29

3,418,070

980,828

(b),(d)

Clydesdale

Acquisition

Holdings

Inc,

Term

Loan

B,

(TBD)

TBD

TBD

972,246

2,014,505

(b),(d)

ProAmpac

PG

Borrower

LLC,

(TBD)

TBD

TBD

1,991,842

3,203,713

(b)

Proampac

PG

Borrower

LLC,

Term

Loan,

(TSFR3M

+

4.000%)

7.662

09/15/28

3,167,671

TOTAL

MATERIALS

11,042,908

65

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MEDIA

&

ENTERTAINMENT

-

0.2%

$

3,181,624

(b)

Planet

US

Buyer

LLC,

Term

Loan

B,

(TSFR1M

+

TSFR3M

+

3.000%)

6.673

%

02/10/31

$

3,184,360

TOTAL

MEDIA

&

ENTERTAINMENT

3,184,360

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.5%

2,000,000

(b),(d)

HOPPER

MERGER

SUB

INC,

(TBD)

TBD

TBD

1,978,750

676,986

(b)

Jazz

Financing

Lux

S.a.r.l.,

First

Lien

Term

Loan

B,

(TSFR1M

+

2.250%)

5.923

05/05/28

680,184

1,492,407

(b)

Organon

&

Co,

Term

Loan,

(TSFR1M

+

2.250%)

5.923

05/19/31

1,446,710

2,920,345

(b),(k)

Parexel

International

Corporation,

Repriced

Term

Loan

B,

(TSFR1M

+

2.750%)

6.423

12/12/31

2,890,236

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

6,995,880

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.1%

997,500

(b)

Instructure

Holdings,

Inc.,

Repriced

Term

Loan,

(TSFR3M

+

2.750%)

6.411

11/13/31

947,211

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

947,211

SOFTWARE

&

SERVICES

-

1.1%

1,481,250

(b)

Boxer

Parent

Company

Inc.,

Term

Loan

B,

(TSFR3M

+

3.000%)

6.673

07/30/31

1,369,142

1,990,000

(b)

Cloud

Software

Group,

Inc.,

Term

Loan

B

(2031),

(TSFR3M

+

3.250%)

6.922

03/24/31

1,854,680

2,372,888

(b)

Cotiviti

Corporation,

Term

Loan,

(TSFR1M

+

2.750%)

6.421

05/01/31

2,111,123

1,985,000

(b)

Darktrace

PLC,

First

Lien

Term

Loan,

(TSFR3M

+

3.250%)

6.898

10/09/31

1,891,417

1,496,212

(b)

Epicor

Software

Corporation,

Term

Loan

E,

(TSFR1M

+

2.500%)

6.173

05/30/31

1,455,066

480,000

(b)

IGT

Holding

IV

AB,

Term

Loan

B5,

(TSFR3M

+

3.000%)

6.672

09/02/31

468,600

3,473,794

(b)

Javelin

Buyer,

Inc.,

Term

Loan,

(TSFR3M

+

2.750%)

6.417

12/08/31

3,252,340

994,962

(b)

Mitchell

International,

Inc.,

Term

Loan,

(TSFR1M

+

3.000%)

6.673

06/17/31

923,454

1,084,960

(b)

UKG

Inc.,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.167

02/10/31

1,029,898

TOTAL

SOFTWARE

&

SERVICES

14,355,720

TELECOMMUNICATION

SERVICES

-

0.2%

3,001,167

(b),(d)

Zayo

Group

Holdings,

Inc.,

Term

Loan,

(TBD)

TBD

TBD

2,893,050

TOTAL

TELECOMMUNICATION

SERVICES

2,893,050

UTILITIES

-

0.2%

1,000,000

(b),(d)

Talen

Energy

Supply,

LLC,

Incremental

Term

Loan

B,

(TBD)

TBD

TBD

1,004,125

1,170,740

(b)

Talen

Energy

Supply,

LLC,

Term

Loan

B,

(TSFR3M

+

2.500%)

6.153

05/17/30

1,175,757

TOTAL

UTILITIES

2,179,882

TOTAL

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

(Cost

$124,733,657)

122,752,734

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$1,327,425,381)

1,329,062,142

SHARES

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.5%

6,384,977

(l)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.700

(m)

6,384,977

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$6,384,977)

6,384,977

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

 5.4%

73536720

REPURCHASE

AGREEMENTS

-

5.4%

73536720

12,986,720

(n)

Fixed

Income

Clearing

Corporation

1.060

03/02/26

12,986,720

60,550,000

(o)

Fixed

Income

Clearing

Corporation

3.640

03/02/26

60,550,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$73,536,720)

73,536,720

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$73,536,720)

73,536,720

TOTAL

INVESTMENTS

-

103.6%

(Cost

$1,407,347,078

)

1,408,983,839

OTHER

ASSETS

&

LIABILITIES,

NET

-  (3.6)%

(49,079,610)

NET

ASSETS

-

100%

$

1,359,904,229

Portfolio

of

Investments

February

28,

2026

(continued)

Strategic

Income

66

See

Notes

to

Financial

Statements

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

BRL

Brazilian

Real

CAD

Canadian

Dollar

CLP

Chilean

Peso

EUR

Euro

I/O

Interest

only

security

LIBOR

London

Inter-Bank

Offered

Rate

M

Month

PIK

Payment-in-kind

(“PIK”)

security.  Depending

on

the

terms

of

the

security,

income

may

be

received

in

the

form

of

cash,

securities,

or

a

combination

of

both.  The

PIK

rate

shown,

where

applicable,

represents

the

annualized

rate

of

the

last

PIK

payment

made

by

the

issuer

as

of

the

end

of

the

reporting

period.

PLN

Polish

Zloty

Reg

S

Regulation

S

allows

U.S.

companies

to

sell

securities

to

persons

or

entities

located

outside

of

the

United

States

without

registering

those

securities

with

the

Securities

and

Exchange

Commission.

Specifically,

Regulation

S

provides

a

safe

harbor

from

the

registration

requirements

of

the

Securities

Act

for

the

offers

and

sales

of

securities

by

both

foreign

and

domestic

issuers

that

are

made

outside

the

United

States.

SOFR

Secured

Overnight

Financing

Rate

SOFR30A

30

Day

Average

Secured

Overnight

Financing

Rate

TBD

Senior

loan

purchased

on

a

when-issued

or

delayed-delivery

basis.

Certain

details

associated

with

this

purchase

are

not

known

prior

to

the

settlement

date

of

the

transaction.

In

addition,

senior

loans

typically

trade

without

accrued

interest

and

therefore

a

coupon

rate

is

not

available

prior

to

settlement.

At

settlement,

if

still

unknown,

the

borrower

or

counterparty

will

provide

the

Fund

with

the

final

coupon

rate

and

maturity

date.

TSFR1M

CME

Term

Secured

Overnight

Financing

Rate

1

Month

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

3

Month

TSFR6M

CME

Term

Secured

Overnight

Financing

Rate

6

Month

UGX

Ugandan

Shilling

UYU

Uruguayan

Peso

ZAR

South

African

Rand

(a)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$656,419,078

or

46.6%

of

Total

Investments.

(b)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable.  For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(c)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(d)

When-issued

or

delayed

delivery

security.

(e)

Contains

$1,000

Par

Preferred

and/or

Contingent

Capital

Securities.

(f)

Perpetual

security.

Maturity

date

is

not

applicable.

(g)

Contingent

Capital

Securities

(“CoCos”)

are

debt

or

preferred

securities

with

loss

absorption

characteristics

built

into

the

terms

of

the

security

for

the

benefit

of

the

issuer,

for

example

an

automatic

write-down

of

principal

or

a

mandatory

conversion

into

the

issuer’s

common

stock

under

certain

adverse

circumstances,

such

as

the

issuer’s

capital

ratio

falling

below

a

specified

level.

As

of

the

end

of

the

reporting

period,

the

Fund’s

total

investment

in

CoCos

was

3.4%

of

Total

Investments.

(h)

Investment,

or

a

portion

of

investment,

is

out

on

loan

for

securities

lending.

The

total

value

of

the

securities

out

on

loan

as

of

the

end

of

the

fiscal

period

was

$6,135,915.

(i)

$1,000

Par

Institutional

Preferred

security.

As

of

the

end

of

the

period,

the

percent

of

$1,000

Par

Institutional

Preferred

securities

was

8.6%

of

Total

Investments.

(j)

Investment,

or

portion

of

investment,

represents

an

outstanding

unfunded

senior

loan

commitment.

(k)

Portion

of

investment

purchased

on

a

delayed

delivery

basis.

(l)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

(m)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

(n)

Agreement

with

Fixed

Income

Clearing

Corporation,

1.060%

dated

2/27/26

to

be

repurchased

at

$12,987,867

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

3.875%

and

maturity

date

10/15/27,

valued

at

$13,246,643.

(o)

Agreement

with

Fixed

Income

Clearing

Corporation,

3.640%

dated

2/27/26

to

be

repurchased

at

$60,568,367

on

3/2/26,

collateralized

by

Government

Agency

Securities,

with

coupon

rates

3.000%–4.375%

and

maturity

dates

1/31/32–5/15/47,

valued

at

$61,761,029.

67

See

Notes

to

Financial

Statements

Investments

in

Derivatives

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

U.S.

Treasury

2-Year

Note

125

6/26

$

26,123,142

$

26,159,180

$

36,038

U.S.

Treasury

Long

Bond

250

6/26

29,426,298

29,617,187

190,889

Total

$55,549,440

$55,776,367

$226,927

Forward

Foreign

Currency

Contracts

Currency

Purchased

Notional

Amount

(Local

Currency)

Currency

Sold

Notional

Amount

(Local

Currency)

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

$

5,624,540

CAD

7,711,633

Barclays

Bank

PLC

4/08/26

$

(37,780)

EUR

906,411

$

1,065,399

Morgan

Stanley

Capital

Services

LLC

4/08/26

$

7,474

EUR

1,808,661

$

2,157,366

Morgan

Stanley

Capital

Services

LLC

4/08/26

$

(16,545)

$

8,266,841

EUR

7,028,080

Morgan

Stanley

Capital

Services

LLC

4/08/26

(51,946)

Total

        $(98,797)

Total

unrealized

appreciation

on

forward

foreign

currency

contracts

        $7,474

Total

unrealized

depreciation

on

forward

foreign

currency

contracts

        $(106,271)

CAD

Canadian

Dollar

EUR

Euro

Credit

Default

Swaps

-

Centrally

Cleared

PURCHASED

Counterparty

Reference

Entity

Fixed

Rate

(Annualized)

Current

Credit

Spread

(a)

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount(b)

Value

Premiums

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Citigroup

Global

Markets,

Inc

CDX-NAHYS45V1-5Y

5.000

%

3.59

%

Quarterly

12/20/30

$

19,800,000

$

(1,535,999)

$

(1,386,224)

$

(149,775)

Total

$

19,800,000

$

(1,535,999)

$(1,386,224)

$

(149,775)

(a)

The

credit

spread

generally

serves

as

an

indication

of

the

current

status

of

the

payment/performance

risk

and

therefore

the

likelihood

of

default

of

the

credit

derivative.

The

credit

spread

also

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

a

credit

default

swap

contract.

Higher

credit

spreads

are

indicative

of

higher

likelihood

of

performance

by

the

seller

of

protection.

(b)

The

maximum

potential

amount

the

Fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

is

defined

under

the

terms

of

that

particular

swap

agreement.

This

amount

may

be

reduced

by

any

recoverable

assets,

if

applicable.

Statement

of

Assets

and

Liabilities

See

Notes

to

Financial

Statements

68

February

28,

2026

(Unaudited)

Credit

Income

Flexible

Income

Floating

Rate

Income

High

Yield

Income

Preferred

Securities

and

Income

Strategic

Income

ASSETS

Long-term

investments,

at

value

†‡

$

344,063,633‌

$

834,585,966‌

$

1,948,143,951‌

$

521,905,864‌

$

5,884,945,945‌

$

1,329,062,142‌

Affiliated

investments,

at

value

++

5,008,000‌

–‌

1,002,400‌

–‌

75,062,294‌

–‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

8,262,312‌

12,659,836‌

6,149,517‌

12,769,191‌

190,584,692‌

6,384,977‌

Short-term

investments,

at

value

◊

21,730,627‌

27,600,000‌

151,702,490‌

17,002,700‌

32,578,703‌

73,536,720‌

Cash

559,971‌

861,096‌

1,092,680‌

520,031‌

–‌

3,110,684‌

Cash

denominated

in

foreign

currencies

^

13‌

–‌

–‌

–‌

–‌

37‌

Cash

collateral

at

broker

for

investments

in

futures

contracts

(1)

240,051‌

–‌

–‌

–‌

8,478,872‌

1,352,535‌

Cash

collateral

at

broker

for

investments

in

swap

contracts

(1)

–‌

–‌

1,118,708‌

–‌

–‌

1,019,634‌

Unrealized

appreciation

on

forward

foreign

currency

contracts

–‌

–‌

–‌

–‌

–‌

7,474‌

Receivables:

Dividends

27,563‌

433,997‌

–‌

–‌

1,959,780‌

41‌

Interest

4,504,512‌

11,614,812‌

14,279,571‌

8,891,118‌

80,679,694‌

11,851,483‌

Investments

sold

4,634,742‌

–‌

55,042,440‌

7,838,709‌

–‌

11,085,065‌

Reclaims

3,389‌

89,952‌

–‌

–‌

–‌

10,738‌

Reimbursement

from

Adviser

13,182‌

68,862‌

192‌

46,121‌

25,112‌

78,164‌

Shares

sold

1,877,658‌

1,448,361‌

6,405,635‌

232,438‌

6,492,873‌

1,746,353‌

Variation

margin

on

futures

contracts

57,976‌

–‌

–‌

–‌

1,620,094‌

183,594‌

Variation

margin

on

swaps

contracts

–‌

–‌

–‌

–‌

–‌

23,104‌

Other

54,173‌

83,485‌

361,310‌

84,650‌

395,775‌

117,814‌

Total

assets

391,037,802‌

889,446,367‌

2,185,298,894‌

569,290,822‌

6,282,823,834‌

1,439,570,559‌

LIABILITIES

Cash

overdraft

denominated

in

foreign

currencies

*

–‌

–‌

–‌

1,367‌

–‌

–‌

Unrealized

depreciation

on

forward

foreign

currency

contracts

5,373‌

–‌

–‌

–‌

–‌

106,271‌

Payables:

Management

fees

146,939‌

452,578‌

882,212‌

244,364‌

2,909,461‌

496,459‌

Collateral

from

securities

lending

8,262,312‌

12,659,836‌

6,149,517‌

12,769,191‌

190,584,692‌

6,384,977‌

Dividends

17,887‌

434,670‌

905,521‌

69,341‌

4,154,339‌

833,649‌

Interest

409‌

210‌

39,991‌

1,517‌

12,346‌

261‌

Investments

purchased

-

regular

settlement

2,552,020‌

4,384,143‌

2,745‌

520,250‌

11,066,167‌

35,105,062‌

Investments

purchased

-

when-issued/delayed-

delivery

settlement

13,970,133‌

–‌

153,982,587‌

7,858,475‌

–‌

33,590,421‌

Shares

redeemed

786,935‌

1,495,790‌

8,474,421‌

1,323,735‌

18,503,114‌

2,228,402‌

Unfunded

senior

loans

173,290‌

–‌

4,195,097‌

–‌

–‌

328,621‌

Variation

margin

on

swaps

contracts

–‌

–‌

77,840‌

–‌

–‌

–‌

Accrued

expenses:

Custodian

fees

53,571‌

103,760‌

427,251‌

115,127‌

402,617‌

168,762‌

Directors/Trustees

fees

19,766‌

46,475‌

84,258‌

35,376‌

218,486‌

49,999‌

Professional

fees

21,103‌

27,909‌

30,314‌

27,020‌

48,853‌

26,913‌

Shareholder

reporting

expenses

21,027‌

29,430‌

39,273‌

45,119‌

101,207‌

43,925‌

Shareholder

servicing

agent

fees

136,217‌

142,313‌

286,550‌

348,094‌

961,315‌

224,729‌

12b-1

distribution

and

service

fees

14,165‌

96,702‌

68,767‌

22,015‌

180,947‌

51,775‌

Other

227‌

1,199‌

1,021‌

2,809‌

35,516‌

26,104‌

Total

liabilities

26,181,374‌

19,875,015‌

175,647,365‌

23,383,800‌

229,179,060‌

79,666,330‌

Net

assets

$

364,856,428‌

$

869,571,352‌

$

2,009,651,529‌

$

545,907,022‌

$

6,053,644,774‌

$

1,359,904,229‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

$

504,272,262‌

$

1,068,450,397‌

$

2,379,622,034‌

$

756,283,742‌

$

6,414,858,204‌

$

1,457,534,215‌

Total

distributable

earnings

(loss)

(139,415,834‌)

(198,879,045‌)

(369,970,505‌)

(210,376,720‌)

(361,213,430‌)

(97,629,986‌)

Net

assets

$

364,856,428‌

$

869,571,352‌

$

2,009,651,529‌

$

545,907,022‌

$

6,053,644,774‌

$

1,359,904,229‌

†

Long-term

investments,

cost

$

342,337,494‌

$

791,937,171‌

$

1,992,245,174‌

$

512,210,650‌

$

5,801,458,041‌

$

1,327,425,381‌

++

Affiliated

investments,

cost

$

4,985,000‌

$

—‌

$

1,002,600‌

$

—‌

$

74,903,375‌

$

—‌

◊

Short-term

investments,

cost

$

21,730,627‌

$

27,600,000‌

$

151,702,490‌

$

17,002,700‌

$

32,578,703‌

$

73,536,720‌

Statement

of

Assets

and

Liabilities

(continued)

See

Notes

to

Financial

Statements

69

February

28,

2026

(Unaudited)

Credit

Income

Flexible

Income

Floating

Rate

Income

High

Yield

Income

Preferred

Securities

and

Income

Strategic

Income

‡

Includes

securities

loaned

of

$

7,960,979‌

$

12,095,247‌

$

—‌

$

12,258,483‌

$

182,757,946‌

$

6,135,915‌

^

Cash

denominated

in

foreign

currencies,

cost

$

13‌

$

–‌

$

–‌

$

–‌

$

–‌

$

37‌

*

Cash

overdraft

denominated

in

foreign

currencies,

cost

$

–‌

$

–‌

$

–‌

$

1,248‌

$

–‌

$

–‌

Credit

Income

Flexible

Income

Floating

Rate

Income

High

Yield

Income

Preferred

Securities

and

Income

Strategic

Income

CLASS

A:

Net

assets

$

48,472,325‌

$

180,551,712‌

$

181,968,120‌

$

64,518,975‌

$

484,604,104‌

$

164,390,967‌

Shares

outstanding

7,272,231‌

9,009,680‌

10,329,175‌

3,611,732‌

29,663,583‌

16,343,315‌

Net

asset

value

("NAV")

per

share

$

6.67‌

$

20.04‌

$

17.62‌

$

17.86‌

$

16.34‌

$

10.06‌

Maximum

sales

charge

4.75%

4.75%

3.00%

4.75%

4.75%

4.25%

Offering

price

per

share

(NAV

per

share

plus

maximum

sales

charge)

$

7.00‌

$

21.04‌

$

18.16‌

$

18.75‌

$

17.15‌

$

10.51‌

CLASS

C:

Net

assets

$

6,399,069‌

$

80,712,149‌

$

41,104,143‌

$

12,764,665‌

$

115,911,588‌

$

26,971,445‌

Shares

outstanding

961,640‌

4,034,989‌

2,332,832‌

715,206‌

7,090,354‌

2,694,417‌

NAV

and

offering

price

per

share

$

6.65‌

$

20.00‌

$

17.62‌

$

17.85‌

$

16.35‌

$

10.01‌

CLASS

R6:

Net

assets

$

—‌

$

38,639,364‌

$

793,096,163‌

$

22,963,743‌

$

1,165,583,730‌

$

342,337,917‌

Shares

outstanding

—‌

1,913,984‌

44,786,523‌

1,277,010‌

71,098,230‌

33,921,050‌

NAV

and

offering

price

per

share

$

—‌

$

20.19‌

$

17.71‌

$

17.98‌

$

16.39‌

$

10.09‌

CLASS

I:

Net

assets

$

309,985,034‌

$

569,668,127‌

$

993,483,103‌

$

445,659,639‌

$

4,287,545,352‌

$

826,203,900‌

Shares

outstanding

46,415,493‌

28,390,932‌

56,339,501‌

24,917,605‌

262,159,659‌

82,148,362‌

NAV

and

offering

price

per

share

$

6.68‌

$

20.07‌

$

17.63‌

$

17.89‌

$

16.35‌

$

10.06‌

Authorized

shares

-

per

class

2

billion

Unlimited

Unlimited

Unlimited

Unlimited

2

billion

Par

value

per

share

$

0.0001

$

0.01

$

0.01

$

0.01

$

0.01

$

0.0001

(1)

Cash

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

derivatives.

Statement

of

Operations

See

Notes

to

Financial

Statements

70

Six

Months

Ended

February

28,

2026

(Unaudited)

Credit

Income

Flexible

Income

Floating

Rate

Income

High

Yield

Income

INVESTMENT

INCOME

Affiliated

income

$

—‌

$

8,993‌

$

—‌

$

—‌

Dividends

112,362‌

5,396,339‌

1,556,610‌

31,391‌

Dividends

from

affiliated

investments

30,020‌

—‌

10,060‌

—‌

Interest

11,161,672‌

19,949,617‌

76,460,050‌

22,267,726‌

Securities

lending

income,

net

41,549‌

35,215‌

150,184‌

80,241‌

Total

investment

income

11,345,603‌

25,390,164‌

78,176,904‌

22,379,358‌

EXPENSES

–

–

–

–

Management

fees

811,017‌

2,891,550‌

5,472,863‌

1,647,982‌

12b-1

service

fees

-

Class

A

58,111‌

218,559‌

255,007‌

76,789‌

12b-1

distribution

and

service

fees

-

Class

C

31,096‌

414,970‌

221,185‌

58,638‌

Shareholder

servicing

agent

fees

-

Class

A

38,347‌

55,011‌

84,028‌

46,425‌

Shareholder

servicing

agent

fees

-

Class

C

5,158‌

26,159‌

18,213‌

8,852‌

Shareholder

servicing

agent

fees

-

Class

R6

—‌

401‌

9,504‌

383‌

Shareholder

servicing

agent

fees

-

Class

I

207,191‌

180,009‌

419,983‌

353,865‌

Interest

expense

1,705‌

739‌

148,760‌

5,513‌

Directors/Trustees

fees

8,351‌

25,954‌

56,535‌

17,058‌

Custodian

expenses

23,331‌

44,051‌

180,426‌

50,412‌

Registration

fees

32,647‌

38,793‌

70,559‌

33,159‌

Professional

fees

29,114‌

35,397‌

76,359‌

32,871‌

Shareholder

reporting

expenses

29,705‌

33,017‌

44,191‌

43,383‌

Other

3,615‌

5,762‌

9,105‌

5,297‌

Total

expenses

before

fee

waiver/expense

reimbursement

1,279,388‌

3,970,372‌

7,066,718‌

2,380,627‌

Fee

waiver/expense

reimbursement

(

144,014‌

)

(

346,977‌

)

—‌

(

169,894‌

)

Net

expenses

1,135,374‌

3,623,395‌

7,066,718‌

2,210,733‌

Net

investment

income

(loss)

10,210,229‌

21,766,769‌

71,110,186‌

20,168,625‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss)

from:

Investments

587,841‌

23,216,158‌

(

10,442,629‌

)

2,774,174‌

Forward

foreign

currency

contracts

7,950‌

—‌

—‌

—‌

Futures

contracts

142,455‌

—‌

—‌

—‌

Swap

contracts

—‌

—‌

(

18,738‌

)

—‌

Foreign

currency

transactions

486‌

—‌

—‌

—‌

Net

realized

gain

(loss)

738,732‌

23,216,158‌

(

10,461,367‌

)

2,774,174‌

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

(

1,106,157‌

)

14,173,603‌

(

34,276,783‌

)

(

2,000,829‌

)

Affiliated

investments

23,000‌

—‌

(

200‌

)

—‌

Forward

foreign

currency

contracts

(

8,635‌

)

—‌

—‌

—‌

Futures

contracts

(

24,479‌

)

—‌

—‌

—‌

Swap

contracts

—‌

—‌

125,925‌

—‌

Foreign

currency

translations

421‌

—‌

—‌

(

14‌

)

Net

change

in

unrealized

appreciation

(depreciation)

(

1,115,850‌

)

14,173,603‌

(

34,151,058‌

)

(

2,000,843‌

)

Net

realized

and

unrealized

gain

(loss)

(

377,118‌

)

37,389,761‌

(

44,612,425‌

)

773,331‌

Net

increase

(decrease)

in

net

assets

from

operations

$

9,833,111‌

$

59,156,530‌

$

26,497,761‌

$

20,941,956‌

Statement

of

Operations

(continued)

See

Notes

to

Financial

Statements

71

Six

Months

Ended

February

28,

2026

(Unaudited)

Preferred

Securities

and

Income

Strategic

Income

INVESTMENT

INCOME

Dividends

$

17,464,254‌

$

252‌

Dividends

from

affiliated

investments

588,947‌

—‌

Interest

169,327,677‌

38,791,641‌

Securities

lending

income,

net

534,609‌

39,328‌

Total

investment

income

187,915,487‌

38,831,221‌

EXPENSES

–

–

Management

fees

17,948,580‌

3,015,426‌

12b-1

service

fees

-

Class

A

587,147‌

192,636‌

12b-1

distribution

and

service

fees

-

Class

C

563,723‌

121,107‌

Shareholder

servicing

agent

fees

-

Class

A

177,881‌

66,249‌

Shareholder

servicing

agent

fees

-

Class

C

42,706‌

10,398‌

Shareholder

servicing

agent

fees

-

Class

R6

15,989‌

10,029‌

Shareholder

servicing

agent

fees

-

Class

I

1,546,518‌

320,317‌

Interest

expense

48,656‌

1,030‌

Directors/Trustees

fees

165,382‌

36,670‌

Custodian

expenses

176,553‌

72,363‌

Registration

fees

131,441‌

62,375‌

Professional

fees

70,083‌

36,633‌

Shareholder

reporting

expenses

142,423‌

40,108‌

Other

15,319‌

7,103‌

Total

expenses

before

fee

waiver/expense

reimbursement

21,632,401‌

3,992,444‌

Fee

waiver/expense

reimbursement

—‌

(

410,243‌

)

Net

expenses

21,632,401‌

3,582,201‌

Net

investment

income

(loss)

166,283,086‌

35,249,020‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss)

from:

Investments

7,614,292‌

5,520,581‌

Forward

foreign

currency

contracts

—‌

133,857‌

Futures

contracts

7,943,046‌

2,305,692‌

Swap

contracts

—‌

(

112,198‌

)

Foreign

currency

transactions

(

3‌

)

42,035‌

Net

realized

gain

(loss)

15,557,335‌

7,889,967‌

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

121,934,443‌

8,115,744‌

Affiliated

investments

158,919‌

—‌

Forward

foreign

currency

contracts

—‌

(

131,683‌

)

Futures

contracts

910,576‌

69,034‌

Swap

contracts

—‌

(

61,468‌

)

Foreign

currency

translations

—‌

3,132‌

Net

change

in

unrealized

appreciation

(depreciation)

123,003,938‌

7,994,759‌

Net

realized

and

unrealized

gain

(loss)

138,561,273‌

15,884,726‌

Net

increase

(decrease)

in

net

assets

from

operations

$

304,844,359‌

$

51,133,746‌

Statement

of

Changes

in

Net

Assets

See

Notes

to

Financial

Statements

72

Credit

Income

Flexible

Income

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

10,210,229‌

$

9,861,588‌

$

21,766,769‌

$

44,596,878‌

Net

realized

gain

(loss)

738,732‌

(

974,382‌

)

23,216,158‌

(

6,996,126‌

)

Net

change

in

unrealized

appreciation

(depreciation)

(

1,115,850‌

)

3,029,816‌

14,173,603‌

23,544,646‌

Net

increase

(decrease)

in

net

assets

from

operations

9,833,111‌

11,917,022‌

59,156,530‌

61,145,398‌

DISTRIBUTIONS

TO

SHAREHOLDERS

Dividends:

Class

A

(

1,627,814‌

)

(

4,154,447‌

)

(

5,282,618‌

)

(

5,956,884‌

)

Class

C

(

195,521‌

)

(

473,436‌

)

(

2,186,918‌

)

(

2,687,594‌

)

Class

R6

—‌

—‌

(

605,264‌

)

(

531,919‌

)

Class

I

(

8,851,431‌

)

(

6,588,592‌

)

(

17,976,391‌

)

(

23,469,161‌

)

Return

of

Capital:

Class

A

—‌

—‌

—‌

(

2,730,505‌

)

Class

C

—‌

—‌

—‌

(

1,588,514‌

)

Class

R6

—‌

—‌

—‌

(

222,053‌

)

Class

I

—‌

—‌

—‌

(

10,028,362‌

)

Total

distributions

(

10,674,766‌

)

(

11,216,475‌

)

(

26,051,191‌

)

(

47,214,992‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

150,265,074‌

193,160,478‌

105,888,053‌

104,920,773‌

Reinvestments

of

distributions

10,559,592‌

10,919,283‌

24,730,451‌

45,727,811‌

Redemptions

(

27,702,299‌

)

(

59,859,310‌

)

(

131,269,112‌

)

(

362,826,418‌

)

Net

increase

(decrease)

from

Fund

share

transactions

133,122,367‌

144,220,451‌

(

650,608‌

)

(

212,177,834‌

)

Net

increase

(decrease)

in

net

assets

132,280,712‌

144,920,998‌

32,454,731‌

(

198,247,428‌

)

Net

assets

at

the

beginning

of

period

232,575,716‌

87,654,718‌

837,116,621‌

1,035,364,049‌

Net

assets

at

the

end

of

period

$

364,856,428‌

$

232,575,716‌

$

869,571,352‌

$

837,116,621‌

See

Notes

to

Financial

Statements

73

Floating

Rate

Income

High

Yield

Income

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

71,110,186‌

$

118,591,789‌

$

20,168,625‌

$

48,940,049‌

Net

realized

gain

(loss)

(

10,461,367‌

)

(

21,341,786‌

)

2,774,174‌

(

302,371‌

)

Net

change

in

unrealized

appreciation

(depreciation)

(

34,151,058‌

)

7,081,172‌

(

2,000,843‌

)

(

753,858‌

)

Net

increase

(decrease)

in

net

assets

from

operations

26,497,761‌

104,331,175‌

20,941,956‌

47,883,820‌

DISTRIBUTIONS

TO

SHAREHOLDERS

Dividends:

Class

A

(

7,136,437‌

)

(

16,923,196‌

)

(

2,253,628‌

)

(

4,483,363‌

)

Class

C

(

1,381,950‌

)

(

3,407,278‌

)

(

386,939‌

)

(

831,810‌

)

Class

R6

(

23,878,140‌

)

(

20,081,086‌

)

(

815,559‌

)

(

1,899,960‌

)

Class

I

(

37,097,549‌

)

(

81,903,164‌

)

(

17,729,037‌

)

(

43,761,517‌

)

Total

distributions

(

69,494,076‌

)

(

122,314,724‌

)

(

21,185,163‌

)

(

50,976,650‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

875,156,047‌

778,530,046‌

65,262,391‌

149,518,668‌

Reinvestments

of

distributions

63,546,254‌

108,808,189‌

20,612,808‌

49,256,021‌

Redemptions

(

483,956,672‌

)

(

793,925,225‌

)

(

145,006,717‌

)

(

252,179,134‌

)

Net

increase

(decrease)

from

Fund

share

transactions

454,745,629‌

93,413,010‌

(

59,131,518‌

)

(

53,404,445‌

)

Net

increase

(decrease)

in

net

assets

411,749,314‌

75,429,461‌

(

59,374,725‌

)

(

56,497,275‌

)

Net

assets

at

the

beginning

of

period

1,597,902,215‌

1,522,472,754‌

605,281,747‌

661,779,022‌

Net

assets

at

the

end

of

period

$

2,009,651,529‌

$

1,597,902,215‌

$

545,907,022‌

$

605,281,747‌

See

Notes

to

Financial

Statements

74

Statement

of

Changes

in

Net

Assets

(continued)

Preferred

Securities

and

Income

Strategic

Income

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

166,283,086‌

$

290,129,929‌

$

35,249,020‌

$

62,114,053‌

Net

realized

gain

(loss)

15,557,335‌

(

11,261,334‌

)

7,889,967‌

(

12,563,303‌

)

Net

change

in

unrealized

appreciation

(depreciation)

123,003,938‌

118,722,840‌

7,994,759‌

12,927,178‌

Net

increase

(decrease)

in

net

assets

from

operations

304,844,359‌

397,591,435‌

51,133,746‌

62,477,928‌

DISTRIBUTIONS

TO

SHAREHOLDERS

Dividends:

Class

A

(

13,151,729‌

)

(

25,346,949‌

)

(

4,269,633‌

)

(

9,001,828‌

)

Class

C

(

2,740,586‌

)

(

5,978,155‌

)

(

578,984‌

)

(

1,064,482‌

)

Class

R6

(

28,298,324‌

)

(

37,835,606‌

)

(

9,418,396‌

)

(

19,112,428‌

)

Class

I

(

119,664,240‌

)

(

220,299,721‌

)

(

21,586,479‌

)

(

37,760,450‌

)

Total

distributions

(

163,854,879‌

)

(

289,460,431‌

)

(

35,853,492‌

)

(

66,939,188‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

1,084,602,756‌

1,767,095,427‌

319,601,719‌

450,690,437‌

Reinvestments

of

distributions

140,004,528‌

249,861,390‌

31,071,053‌

58,253,667‌

Redemptions

(

729,613,536‌

)

(

1,550,449,335‌

)

(

148,273,988‌

)

(

278,903,938‌

)

Net

increase

(decrease)

from

Fund

share

transactions

494,993,748‌

466,507,482‌

202,398,784‌

230,040,166‌

Net

increase

(decrease)

in

net

assets

635,983,228‌

574,638,486‌

217,679,038‌

225,578,906‌

Net

assets

at

the

beginning

of

period

5,417,661,546‌

4,843,023,060‌

1,142,225,191‌

916,646,285‌

Net

assets

at

the

end

of

period

$

6,053,644,774‌

$

5,417,661,546‌

$

1,359,904,229‌

$

1,142,225,191‌

Financial

Highlights

75

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Net

Asset

Value,

End

of

Period

Credit

Income

Class

A

2/28/26

(d)

$

6.68

$

0.22

$

—

$

0.22

$

(

0.23

)

$

—

$

—

$

(

0.23

)

$

6.67

8/31/25

6.72

0.50

0.03

0.53

(

0.57

)

—

—

(

0.57

)

6.68

8/31/24

6.36

0.58

0.30

0.88

(

0.52

)

—

—

(

0.52

)

6.72

8/31/23

6.36

0.47

(

0.05

)

0.42

(

0.42

)

—

—

(

0.42

)

6.36

8/31/22

(f)

6.22

0.06

0.14

0.20

(

0.05

)

—

(

0.01

)

(

0.06

)

6.36

6/30/22

7.42

0.32

(

1.20

)

(

0.88

)

(

0.32

)

—

—

(

0.32

)

6.22

6/30/21

6.69

0.34

0.71

1.05

(

0.32

)

—

—

(

0.32

)

7.42

Class

C

2/28/26

(d)

6.67

0.19

—

0.19

(

0.21

)

—

—

(

0.21

)

6.65

8/31/25

6.71

0.45

0.03

0.48

(

0.52

)

—

—

(

0.52

)

6.67

8/31/24

6.35

0.53

0.30

0.83

(

0.47

)

—

—

(

0.47

)

6.71

8/31/23

6.35

0.42

(

0.05

)

0.37

(

0.37

)

—

—

(

0.37

)

6.35

8/31/22

(f)

6.21

0.05

0.14

0.19

(

0.04

)

—

(

0.01

)

(

0.05

)

6.35

6/30/22

7.41

0.26

(

1.19

)

(

0.93

)

(

0.27

)

—

—

(

0.27

)

6.21

6/30/21

6.69

0.29

0.70

0.99

(

0.27

)

—

—

(

0.27

)

7.41

Class

I

2/28/26

(d)

6.69

0.23

—

0.23

(

0.24

)

—

—

(

0.24

)

6.68

8/31/25

6.73

0.50

0.05

0.55

(

0.59

)

—

—

(

0.59

)

6.69

8/31/24

6.37

0.60

0.30

0.90

(

0.54

)

—

—

(

0.54

)

6.73

8/31/23

6.37

0.48

(

0.04

)

0.44

(

0.44

)

—

—

(

0.44

)

6.37

8/31/22

(f)

6.23

0.06

0.14

0.20

(

0.05

)

—

(

0.01

)

(

0.06

)

6.37

6/30/22

7.45

0.34

(

1.22

)

(

0.88

)

(

0.34

)

—

—

(

0.34

)

6.23

6/30/21

6.71

0.36

0.72

1.08

(

0.34

)

—

—

(

0.34

)

7.45

(a)

Based

on

average

shares

outstanding.

(b)

Total

returns

are

at

NAV

and

do

not

include

any

sales

charge.

Total

returns

are

not

annualized.  

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

to

Financial

Statements

for

more

information.

(d)

Unaudited.

(e)

Annualized.

(f)

For

the

two

months

ended

August

31,

2022.

Prior

to

July

1,

2022,

the

Fund's

fiscal

year

end

was

June

30th.

See

Notes

to

Financial

Statements

76

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

(b)

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

(c)

NII

(Loss)

(c)

Portfolio

Turnover

Rate

3

.21‌

%

$

48,472

1

.05‌

%

(e)

0

.96‌

%

(e)

6

.65‌

%

(e)

31‌

%

8

.22‌

47,766

1

.07‌

0

.96‌

7

.55‌

99‌

14

.38‌

48,050

1

.25‌

1

.04‌

8

.87‌

133‌

6

.87‌

47,566

1

.23‌

1

.01‌

7

.49‌

86‌

3

.16‌

51,908

1

.50‌

(e)

1

.03‌

(e)

5

.53‌

(e)

6‌

(

12

.23‌

)

51,332

1

.15‌

1

.00‌

4

.51‌

120‌

16

.01‌

77,953

1

.12‌

1

.00‌

4

.75‌

196‌

2

.85‌

6,399

1

.80‌

(e)

1

.71‌

(e)

5

.90‌

(e)

31‌

7

.39‌

6,373

1

.82‌

1

.71‌

6

.81‌

99‌

13

.57‌

6,346

1

.99‌

1

.79‌

8

.12‌

133‌

6

.09‌

6,265

1

.98‌

1

.76‌

6

.72‌

86‌

3

.02‌

8,926

2

.25‌

(e)

1

.78‌

(e)

4

.77‌

(e)

6‌

(

12

.92‌

)

8,887

1

.90‌

1

.75‌

3

.70‌

120‌

15

.03‌

15,101

1

.87‌

1

.75‌

4

.02‌

196‌

3

.50‌

309,985

0

.80‌

(e)

0

.70‌

(e)

6

.92‌

(e)

31‌

8

.49‌

178,437

0

.82‌

0

.71‌

7

.59‌

99‌

14

.67‌

33,259

0

.99‌

0

.79‌

9

.17‌

133‌

7

.16‌

26,519

0

.98‌

0

.76‌

7

.61‌

86‌

3

.20‌

60,706

1

.25‌

(e)

0

.78‌

(e)

5

.55‌

(e)

6‌

(

12

.23‌

)

25,439

0

.90‌

0

.75‌

4

.63‌

120‌

16

.40‌

94,051

0

.87‌

0

.75‌

4

.99‌

196‌

Financial

Highlights

77

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Net

Asset

Value,

End

of

Period

Flexible

Income

Class

A

2/28/26

(e)

$

19.28

$

0.49

$

0.86

$

1.35

$

(

0.59

)

$

—

$

—

$

(

0.59

)

$

20.04

8/31/25

18.93

0.89

0.40

1.29

(

0.64

)

—

(

0.30

)

(

0.94

)

19.28

8/31/24

18.11

0.86

0.91

1.77

(

0.64

)

—

(

0.31

)

(

0.95

)

18.93

8/31/23

18.93

0.81

(

0.43

)

0.38

(

1.20

)

—

—

(

1.20

)

18.11

8/31/22

(g)

22.27

0.72

(

3.16

)

(

2.44

)

(

0.90

)

—

—

(

0.90

)

18.93

9/30/21

21.36

0.81

1.04

1.85

(

0.94

)

—

—

(

0.94

)

22.27

9/30/20

22.06

0.88

(

0.39

)

0.49

(

1.19

)

—

—

(

1.19

)

21.36

Class

C

2/28/26

(e)

19.24

0.42

0.86

1.28

(

0.52

)

—

—

(

0.52

)

20.00

8/31/25

18.89

0.74

0.41

1.15

(

0.50

)

—

(

0.30

)

(

0.80

)

19.24

8/31/24

18.08

0.72

0.90

1.62

(

0.50

)

—

(

0.31

)

(

0.81

)

18.89

8/31/23

18.90

0.67

(

0.43

)

0.24

(

1.06

)

—

—

(

1.06

)

18.08

8/31/22

(g)

22.22

0.58

(

3.15

)

(

2.57

)

(

0.75

)

—

—

(

0.75

)

18.90

9/30/21

21.31

0.64

1.04

1.68

(

0.77

)

—

—

(

0.77

)

22.22

9/30/20

22.01

0.72

(

0.39

)

0.33

(

1.03

)

—

—

(

1.03

)

21.31

Class

R6

2/28/26

(e)

19.42

0.53

0.86

1.39

(

0.62

)

—

—

(

0.62

)

20.19

8/31/25

19.06

0.95

0.42

1.37

(

0.71

)

—

(

0.30

)

(

1.01

)

19.42

8/31/24

18.24

0.92

0.91

1.83

(

0.70

)

—

(

0.31

)

(

1.01

)

19.06

8/31/23

19.06

0.87

(

0.43

)

0.44

(

1.26

)

—

—

(

1.26

)

18.24

8/31/22

(g)

22.42

0.79

(

3.19

)

(

2.40

)

(

0.96

)

—

—

(

0.96

)

19.06

9/30/21

21.50

0.89

1.04

1.93

(

1.01

)

—

—

(

1.01

)

22.42

9/30/20

22.20

0.96

(

0.40

)

0.56

(

1.26

)

—

—

(

1.26

)

21.50

Class

I

2/28/26

(e)

19.30

0.52

0.86

1.38

(

0.61

)

—

—

(

0.61

)

20.07

8/31/25

18.95

0.94

0.40

1.34

(

0.69

)

—

(

0.30

)

(

0.99

)

19.30

8/31/24

18.13

0.91

0.90

1.81

(

0.68

)

—

(

0.31

)

(

0.99

)

18.95

8/31/23

18.95

0.86

(

0.44

)

0.42

(

1.24

)

—

—

(

1.24

)

18.13

8/31/22

(g)

22.29

0.77

(

3.16

)

(

2.39

)

(

0.95

)

—

—

(

0.95

)

18.95

9/30/21

21.38

0.87

1.03

1.90

(

0.99

)

—

—

(

0.99

)

22.29

9/30/20

22.08

0.93

(

0.39

)

0.54

(

1.24

)

—

—

(

1.24

)

21.38

(a)

Based

on

average

shares

outstanding.

(b)

Total

returns

are

at

NAV

and

do

not

include

any

sales

charge.

Total

returns

are

not

annualized.  

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

to

Financial

Statements

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Notes

to

Financial

Statements.

(e)

Unaudited.

(f)

Annualized.

(g)

For

the

eleven

months

ended

August

31,

2022.

Prior

to

July

1,

2022,

the

Fund's

fiscal

year

end

was

September

30th.

See

Notes

to

Financial

Statements

78

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

(b)

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

(c)

NII

(Loss)

(c),(d)

Portfolio

Turnover

Rate

7

.09‌

%

$

180,552

1

.04‌

%

(f)

0

.96‌

%

(f)

5

.03‌

%

(f)

18‌

%

7

.05‌

170,489

1

.03‌

0

.96‌

4

.71‌

27‌

10

.04‌

180,920

1

.04‌

0

.96‌

4

.69‌

40‌

2

.13‌

190,438

1

.03‌

0

.96‌

4

.45‌

26‌

(

11

.18‌

)

230,505

1

.02‌

(f)

0

.95‌

(f)

3

.78‌

(f)

31‌

8

.71‌

298,734

1

.04‌

0

.95‌

3

.66‌

30‌

2

.35‌

264,865

1

.04‌

0

.96‌

4

.13‌

38‌

6

.71‌

80,712

1

.79‌

(f)

1

.71‌

(f)

4

.27‌

(f)

18‌

6

.25‌

87,598

1

.78‌

1

.71‌

3

.95‌

27‌

9

.17‌

119,398

1

.79‌

1

.71‌

3

.94‌

40‌

1

.37‌

150,633

1

.78‌

1

.71‌

3

.70‌

26‌

(

11

.81‌

)

208,775

1

.77‌

(f)

1

.70‌

(f)

3

.03‌

(f)

31‌

7

.97‌

276,035

1

.79‌

1

.70‌

2

.91‌

30‌

1

.59‌

262,068

1

.79‌

1

.71‌

3

.38‌

38‌

7

.27‌

38,639

0

.73‌

(f)

0

.65‌

(f)

5

.45‌

(f)

18‌

7

.40‌

14,523

0

.72‌

0

.65‌

5

.02‌

27‌

10

.36‌

14,599

0

.73‌

0

.65‌

5

.00‌

40‌

2

.48‌

15,278

0

.72‌

0

.65‌

4

.75‌

26‌

(

10

.96‌

)

15,113

0

.71‌

(f)

0

.64‌

(f)

4

.12‌

(f)

31‌

9

.09‌

14,881

0

.72‌

0

.64‌

3

.97‌

30‌

2

.69‌

6,682

0

.72‌

0

.64‌

4

.46‌

38‌

7

.21‌

569,668

0

.79‌

(f)

0

.71‌

(f)

5

.27‌

(f)

18‌

7

.31‌

564,507

0

.78‌

0

.71‌

4

.95‌

27‌

10

.31‌

720,447

0

.79‌

0

.71‌

4

.94‌

40‌

2

.40‌

833,193

0

.78‌

0

.71‌

4

.69‌

26‌

(

11

.00‌

)

1,040,308

0

.77‌

(f)

0

.70‌

(f)

4

.03‌

(f)

31‌

9

.02‌

1,283,908

0

.79‌

0

.70‌

3

.90‌

30‌

2

.60‌

1,060,386

0

.79‌

0

.71‌

4

.38‌

38‌

79

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

Floating

Rate

Income

Class

A

2/28/26

(d)

$

18.00

$

0.64

$

(

0.40

)

$

0.24

$

(

0.62

)

$

—

$

(

0.62

)

$

17.62

8/31/25

18.18

1.35

(

0.13

)

1.22

(

1.40

)

—

(

1.40

)

18.00

8/31/24

17.99

1.50

0.31

1.81

(

1.62

)

—

(

1.62

)

18.18

8/31/23

18.11

1.36

(

0.11

)

1.25

(

1.37

)

—

(

1.37

)

17.99

8/31/22

(f)

19.06

0.63

(

0.93

)

(

0.30

)

(

0.65

)

—

(

0.65

)

18.11

9/30/21

17.80

0.72

1.32

2.04

(

0.78

)

—

(

0.78

)

19.06

9/30/20

19.08

0.80

(

1.14

)

(

0.34

)

(

0.94

)

—

(

0.94

)

17.80

Class

C

2/28/26

(d)

18.01

0.57

(

0.41

)

0.16

(

0.55

)

—

(

0.55

)

17.62

8/31/25

18.18

1.22

(

0.13

)

1.09

(

1.26

)

—

(

1.26

)

18.01

8/31/24

17.99

1.37

0.31

1.68

(

1.49

)

—

(

1.49

)

18.18

8/31/23

18.11

1.23

(

0.11

)

1.12

(

1.24

)

—

(

1.24

)

17.99

8/31/22

(f)

19.06

0.50

(

0.93

)

(

0.43

)

(

0.52

)

—

(

0.52

)

18.11

9/30/21

17.80

0.59

1.31

1.90

(

0.64

)

—

(

0.64

)

19.06

9/30/20

19.08

0.66

(

1.14

)

(

0.48

)

(

0.80

)

—

(

0.80

)

17.80

Class

R6

2/28/26

(d)

18.10

0.66

(

0.40

)

0.26

(

0.65

)

—

(

0.65

)

17.71

8/31/25

18.27

1.42

(

0.13

)

1.29

(

1.46

)

—

(

1.46

)

18.10

8/31/24

18.09

1.57

0.30

1.87

(

1.69

)

—

(

1.69

)

18.27

8/31/23

18.21

1.45

(

0.13

)

1.32

(

1.44

)

—

(

1.44

)

18.09

8/31/22

(f)

19.16

0.69

(

0.93

)

(

0.24

)

(

0.71

)

—

(

0.71

)

18.21

9/30/21

17.88

0.79

1.33

2.12

(

0.84

)

—

(

0.84

)

19.16

9/30/20

19.17

0.86

(

1.15

)

(

0.29

)

(

1.00

)

—

(

1.00

)

17.88

Class

I

2/28/26

(d)

18.02

0.66

(

0.40

)

0.26

(

0.65

)

—

(

0.65

)

17.63

8/31/25

18.20

1.40

(

0.14

)

1.26

(

1.44

)

—

(

1.44

)

18.02

8/31/24

18.01

1.55

0.31

1.86

(

1.67

)

—

(

1.67

)

18.20

8/31/23

18.14

1.38

(

0.09

)

1.29

(

1.42

)

—

(

1.42

)

18.01

8/31/22

(f)

19.08

0.67

(

0.92

)

(

0.25

)

(

0.69

)

—

(

0.69

)

18.14

9/30/21

17.81

0.77

1.32

2.09

(

0.82

)

—

(

0.82

)

19.08

9/30/20

19.10

0.84

(

1.15

)

(

0.31

)

(

0.98

)

—

(

0.98

)

17.81

(a)

Based

on

average

shares

outstanding.

(b)

Total

returns

are

at

NAV

and

do

not

include

any

sales

charge.

Total

returns

are

not

annualized.  

(c)

The

Fund

has

a

contractual

fee

waiver/expense

reimbursement

agreement

with

the

Adviser,

but

did

not

receive

a

fee

waiver/expense

reimbursement

during

the

periods

presented

herein.

See

Notes

to

Financial

Statements

for

more

information.

(d)

Unaudited.

(e)

Annualized.

(f)

For

the

eleven

months

ended

August

31,

2022.

Prior

to

July

1,

2022,

the

Fund's

fiscal

year

end

was

September

30th.

See

Notes

to

Financial

Statements

80

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

(b)

Net

Assets,

End

of

Period

(000)

Expenses

(c)

NII

(Loss)

(c)

Portfolio

Turnover

Rate

1

.34‌

%

$

181,968

0

.96‌

%

(e)

7

.15‌

%

(e)

32‌

%

6

.93‌

213,719

0

.97‌

7

.49‌

49‌

10

.51‌

211,263

0

.99‌

8

.31‌

24‌

7

.24‌

204,409

1

.02‌

7

.61‌

24‌

(

1

.61‌

)

246,410

0

.94‌

(e)

3

.70‌

(e)

37‌

11

.67‌

121,925

1

.03‌

3

.88‌

52‌

(

1

.81‌

)

90,684

1

.01‌

4

.43‌

63‌

0

.91‌

41,104

1

.71‌

(e)

6

.40‌

(e)

32‌

6

.18‌

47,085

1

.72‌

6

.75‌

49‌

9

.69‌

51,907

1

.74‌

7

.56‌

24‌

6

.45‌

48,289

1

.77‌

6

.89‌

24‌

(

2

.30‌

)

55,285

1

.69‌

(e)

2

.93‌

(e)

37‌

10

.79‌

34,192

1

.78‌

3

.14‌

52‌

(

2

.50‌

)

33,375

1

.76‌

3

.66‌

63‌

1

.46‌

793,096

0

.63‌

(e)

7

.43‌

(e)

32‌

7

.33‌

276,319

0

.65‌

7

.79‌

49‌

10

.79‌

274,487

0

.67‌

8

.64‌

24‌

7

.59‌

271,373

0

.70‌

8

.08‌

24‌

(

1

.29‌

)

227,215

0

.61‌

(e)

4

.03‌

(e)

37‌

12

.03‌

83,970

0

.70‌

4

.20‌

52‌

(

1

.46‌

)

55,634

0

.67‌

4

.75‌

63‌

1

.42‌

993,483

0

.71‌

(e)

7

.44‌

(e)

32‌

7

.20‌

1,060,780

0

.72‌

7

.73‌

49‌

10

.79‌

984,816

0

.74‌

8

.56‌

24‌

7

.46‌

1,016,373

0

.77‌

7

.73‌

24‌

(

1

.32‌

)

1,795,387

0

.69‌

(e)

3

.97‌

(e)

37‌

11

.93‌

828,572

0

.78‌

4

.10‌

52‌

(

1

.56‌

)

535,410

0

.76‌

4

.65‌

63‌

81

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

High

Yield

Income

Class

A

2/28/26

(d)

$

17.87

$

0.62

$

0.02

$

0.64

$

(

0.65

)

$

—

$

(

0.65

)

$

17.86

8/31/25

17.91

1.29

0.01

1.30

(

1.34

)

—

(

1.34

)

17.87

8/31/24

17.07

1.26

0.85

2.11

(

1.27

)

—

(

1.27

)

17.91

8/31/23

17.09

1.10

(

0.05

)

1.05

(

1.07

)

—

(

1.07

)

17.07

8/31/22

(f)

19.77

0.77

(

2.68

)

(

1.91

)

(

0.77

)

—

(

0.77

)

17.09

9/30/21

18.51

0.86

1.40

2.26

(

1.00

)

—

(

1.00

)

19.77

9/30/20

20.16

1.04

(

1.57

)

(

0.53

)

(

1.12

)

—

(

1.12

)

18.51

Class

C

2/28/26

(d)

17.85

0.55

0.03

0.58

(

0.58

)

—

(

0.58

)

17.85

8/31/25

17.90

1.15

0.01

1.16

(

1.21

)

—

(

1.21

)

17.85

8/31/24

17.06

1.13

0.84

1.97

(

1.13

)

—

(

1.13

)

17.90

8/31/23

17.08

0.97

(

0.05

)

0.92

(

0.94

)

—

(

0.94

)

17.06

8/31/22

(f)

19.75

0.64

(

2.67

)

(

2.03

)

(

0.64

)

—

(

0.64

)

17.08

9/30/21

18.49

0.72

1.40

2.12

(

0.86

)

—

(

0.86

)

19.75

9/30/20

20.14

0.89

(

1.56

)

(

0.67

)

(

0.98

)

—

(

0.98

)

18.49

Class

R6

2/28/26

(d)

17.99

0.66

0.02

0.68

(

0.69

)

—

(

0.69

)

17.98

8/31/25

18.02

1.37

0.02

1.39

(

1.42

)

—

(

1.42

)

17.99

8/31/24

17.17

1.33

0.86

2.19

(

1.34

)

—

(

1.34

)

18.02

8/31/23

17.19

1.19

(

0.07

)

1.12

(

1.14

)

—

(

1.14

)

17.17

8/31/22

(f)

19.88

0.84

(

2.70

)

(

1.86

)

(

0.83

)

—

(

0.83

)

17.19

9/30/21

18.60

0.93

1.42

2.35

(

1.07

)

—

(

1.07

)

19.88

9/30/20

20.25

1.11

(

1.57

)

(

0.46

)

(

1.19

)

—

(

1.19

)

18.60

Class

I

2/28/26

(d)

17.89

0.64

0.04

0.68

(

0.68

)

—

(

0.68

)

17.89

8/31/25

17.94

1.33

0.01

1.34

(

1.39

)

—

(

1.39

)

17.89

8/31/24

17.09

1.31

0.85

2.16

(

1.31

)

—

(

1.31

)

17.94

8/31/23

17.11

1.15

(

0.06

)

1.09

(

1.11

)

—

(

1.11

)

17.09

8/31/22

(f)

19.79

0.81

(

2.67

)

(

1.86

)

(

0.82

)

—

(

0.82

)

17.11

9/30/21

18.53

0.91

1.40

2.31

(

1.05

)

—

(

1.05

)

19.79

9/30/20

20.17

1.08

(

1.55

)

(

0.47

)

(

1.17

)

—

(

1.17

)

18.53

(a)

Based

on

average

shares

outstanding.

(b)

Total

returns

are

at

NAV

and

do

not

include

any

sales

charge.

Total

returns

are

not

annualized.  

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

to

Financial

Statements

for

more

information.

(d)

Unaudited.

(e)

Annualized.

(f)

For

the

eleven

months

ended

August

31,

2022.

Prior

to

July

1,

2022,

the

Fund's

fiscal

year

end

was

September

30th.

See

Notes

to

Financial

Statements

82

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

(b)

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

(c)

NII

(Loss)

(c)

Portfolio

Turnover

Rate

3

.64‌

%

$

64,519

1

.06‌

%

(e)

1

.00‌

%

(e)

6

.99‌

%

(e)

44‌

%

7

.55‌

59,354

1

.07‌

1

.00‌

7

.23‌

170‌

12

.81‌

58,657

1

.08‌

1

.01‌

7

.26‌

181‌

6

.37‌

49,840

1

.07‌

1

.00‌

6

.51‌

135‌

(

9

.85‌

)

50,895

1

.05‌

(e)

1

.00‌

(e)

4

.54‌

(e)

116‌

12

.44‌

53,994

1

.06‌

0

.99‌

4

.40‌

134‌

(

2

.58‌

)

39,747

1

.04‌

1

.00‌

5

.43‌

128‌

3

.32‌

12,765

1

.81‌

(e)

1

.75‌

(e)

6

.25‌

(e)

44‌

6

.71‌

11,248

1

.82‌

1

.75‌

6

.48‌

170‌

11

.96‌

11,835

1

.83‌

1

.76‌

6

.50‌

181‌

5

.57‌

13,359

1

.82‌

1

.75‌

5

.72‌

135‌

(

10

.46‌

)

18,123

1

.80‌

(e)

1

.75‌

(e)

3

.76‌

(e)

116‌

11

.61‌

30,391

1

.81‌

1

.75‌

3

.69‌

134‌

(

3

.33‌

)

36,222

1

.80‌

1

.75‌

4

.70‌

128‌

3

.84‌

22,964

0

.66‌

(e)

0

.60‌

(e)

7

.39‌

(e)

44‌

8

.02‌

19,779

0

.66‌

0

.59‌

7

.62‌

170‌

13

.26‌

17,151

0

.69‌

0

.62‌

7

.62‌

181‌

6

.70‌

17,731

0

.68‌

0

.61‌

6

.99‌

135‌

(

9

.50‌

)

7,779

0

.67‌

(e)

0

.62‌

(e)

4

.94‌

(e)

116‌

12

.87‌

7,568

0

.70‌

0

.63‌

4

.78‌

134‌

(

2

.19‌

)

6,567

0

.68‌

0

.63‌

5

.82‌

128‌

3

.83‌

445,660

0

.81‌

(e)

0

.75‌

(e)

7

.24‌

(e)

44‌

7

.77‌

514,901

0

.82‌

0

.75‌

7

.48‌

170‌

13

.14‌

574,136

0

.83‌

0

.76‌

7

.53‌

181‌

6

.62‌

427,359

0

.82‌

0

.75‌

6

.76‌

135‌

(

9

.63‌

)

458,620

0

.80‌

(e)

0

.75‌

(e)

4

.77‌

(e)

116‌

12

.69‌

579,139

0

.81‌

0

.74‌

4

.66‌

134‌

(

2

.29‌

)

427,818

0

.79‌

0

.75‌

5

.67‌

128‌

83

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Net

Asset

Value,

End

of

Period

Preferred

Securities

and

Income

Class

A

2/28/26

(d)

$

15.93

$

0.46

$

0.40

$

0.86

$

(

0.45

)

$

—

$

—

$

(

0.45

)

$

16.34

8/31/25

15.60

0.88

0.33

1.21

(

0.88

)

—

—

(

0.88

)

15.93

8/31/24

14.46

0.84

1.17

2.01

(

0.87

)

—

—

(

0.87

)

15.60

8/31/23

15.49

0.79

(

0.98

)

(

0.19

)

(

0.84

)

—

—

(

0.84

)

14.46

8/31/22

(f)

17.84

0.66

(

2.25

)

(

1.59

)

(

0.73

)

—

(

0.03

)

(

0.76

)

15.49

9/30/21

16.73

0.76

1.18

1.94

(

0.83

)

—

—

(

0.83

)

17.84

9/30/20

17.21

0.83

(

0.45

)

0.38

(

0.86

)

—

—

(

0.86

)

16.73

Class

C

2/28/26

(d)

15.94

0.40

0.40

0.80

(

0.39

)

—

—

(

0.39

)

16.35

8/31/25

15.61

0.77

0.33

1.10

(

0.77

)

—

—

(

0.77

)

15.94

8/31/24

14.47

0.73

1.17

1.90

(

0.76

)

—

—

(

0.76

)

15.61

8/31/23

15.50

0.68

(

0.98

)

(

0.30

)

(

0.73

)

—

—

(

0.73

)

14.47

8/31/22

(f)

17.85

0.55

(

2.26

)

(

1.71

)

(

0.61

)

—

(

0.03

)

(

0.64

)

15.50

9/30/21

16.74

0.63

1.18

1.81

(

0.70

)

—

—

(

0.70

)

17.85

9/30/20

17.21

0.70

(

0.44

)

0.26

(

0.73

)

—

—

(

0.73

)

16.74

Class

R6

2/28/26

(d)

15.98

0.48

0.41

0.89

(

0.48

)

—

—

(

0.48

)

16.39

8/31/25

15.65

0.94

0.32

1.26

(

0.93

)

—

—

(

0.93

)

15.98

8/31/24

14.51

0.90

1.16

2.06

(

0.92

)

—

—

(

0.92

)

15.65

8/31/23

15.53

0.84

(

0.97

)

(

0.13

)

(

0.89

)

—

—

(

0.89

)

14.51

8/31/22

(f)

17.89

0.71

(

2.26

)

(

1.55

)

(

0.78

)

—

(

0.03

)

(

0.81

)

15.53

9/30/21

16.77

0.83

1.18

2.01

(

0.89

)

—

—

(

0.89

)

17.89

9/30/20

17.25

0.89

(

0.46

)

0.43

(

0.91

)

—

—

(

0.91

)

16.77

Class

I

2/28/26

(d)

15.95

0.48

0.39

0.87

(

0.47

)

—

—

(

0.47

)

16.35

8/31/25

15.62

0.92

0.33

1.25

(

0.92

)

—

—

(

0.92

)

15.95

8/31/24

14.47

0.88

1.18

2.06

(

0.91

)

—

—

(

0.91

)

15.62

8/31/23

15.50

0.83

(

0.98

)

(

0.15

)

(

0.88

)

—

—

(

0.88

)

14.47

8/31/22

(f)

17.86

0.70

(

2.26

)

(

1.56

)

(

0.77

)

—

(

0.03

)

(

0.80

)

15.50

9/30/21

16.74

0.81

1.19

2.00

(

0.88

)

—

—

(

0.88

)

17.86

9/30/20

17.22

0.87

(

0.45

)

0.42

(

0.90

)

—

—

(

0.90

)

16.74

(a)

Based

on

average

shares

outstanding.

(b)

Total

returns

are

at

NAV

and

do

not

include

any

sales

charge.

Total

returns

are

not

annualized.  

(c)

The

Fund

has

a

contractual

fee

waiver/expense

reimbursement

agreement

with

the

Adviser,

but

did

not

receive

a

fee

waiver/expense

reimbursement

during

the

periods

presented

herein.

See

Notes

to

Financial

Statements

for

more

information.

(d)

Unaudited.

(e)

Annualized.

(f)

For

the

eleven

months

ended

August

31,

2022.

Prior

to

July

1,

2022,

the

Fund's

fiscal

year

end

was

September

30th.

See

Notes

to

Financial

Statements

84

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

(b)

Net

Assets,

End

of

Period

(000)

Expenses

(c)

NII

(Loss)

(c)

Portfolio

Turnover

Rate

5

.45‌

%

$

484,604

0

.99‌

%

(e)

5

.67‌

%

(e)

8‌

%

8

.03‌

463,327

1

.00‌

5

.66‌

28‌

14

.31‌

441,911

1

.03‌

5

.65‌

22‌

(

1

.21‌

)

459,831

1

.01‌

5

.36‌

22‌

(

9

.07‌

)

551,741

0

.99‌

(e)

4

.34‌

(e)

12‌

11

.79‌

597,657

0

.99‌

4

.32‌

14‌

2

.33‌

458,391

1

.03‌

4

.97‌

37‌

5

.06‌

115,912

1

.74‌

(e)

4

.92‌

(e)

8‌

7

.22‌

113,220

1

.75‌

4

.90‌

28‌

13

.46‌

130,468

1

.78‌

4

.90‌

22‌

(

1

.93‌

)

146,126

1

.76‌

4

.62‌

22‌

(

9

.72‌

)

184,904

1

.74‌

(e)

3

.57‌

(e)

12‌

10

.96‌

232,618

1

.74‌

3

.57‌

14‌

1

.63‌

235,790

1

.78‌

4

.21‌

37‌

5

.60‌

1,165,584

0

.67‌

(e)

6

.03‌

(e)

8‌

8

.35‌

857,656

0

.68‌

5

.97‌

28‌

14

.62‌

634,395

0

.70‌

5

.96‌

22‌

(

0

.81‌

)

559,817

0

.69‌

5

.66‌

22‌

(

8

.84‌

)

1,051,040

0

.67‌

(e)

4

.65‌

(e)

12‌

12

.16‌

944,235

0

.68‌

4

.65‌

14‌

2

.66‌

453,348

0

.69‌

5

.32‌

37‌

5

.51‌

4,287,545

0

.74‌

(e)

5

.92‌

(e)

8‌

8

.28‌

3,983,458

0

.75‌

5

.91‌

28‌

14

.64‌

3,636,249

0

.78‌

5

.89‌

22‌

(

0

.94‌

)

3,222,096

0

.76‌

5

.62‌

22‌

(

8

.91‌

)

3,338,638

0

.74‌

(e)

4

.57‌

(e)

12‌

12

.11‌

3,842,118

0

.74‌

4

.57‌

14‌

2

.57‌

2,792,500

0

.78‌

5

.20‌

37‌

85

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

Strategic

Income

Class

A

2/28/26

(d)

$

9.93

$

0.27

$

0.13

$

0.40

$

(

0.27

)

$

—

$

(

0.27

)

$

10.06

8/31/25

9.99

0.58

(

0.02

)

0.56

(

0.62

)

—

(

0.62

)

9.93

8/31/24

9.55

0.57

0.45

1.02

(

0.58

)

—

(

0.58

)

9.99

8/31/23

9.78

0.49

(

0.23

)

0.26

(

0.49

)

—

(

0.49

)

9.55

8/31/22

(f)

9.66

0.07

0.12

0.19

(

0.07

)

—

(

0.07

)

9.78

6/30/22

11.23

0.35

(

1.59

)

(

1.24

)

(

0.33

)

—

(

0.33

)

9.66

6/30/21

10.69

0.34

0.53

0.87

(

0.33

)

—

(

0.33

)

11.23

Class

C

2/28/26

(d)

9.88

0.23

0.14

0.37

(

0.24

)

—

(

0.24

)

10.01

8/31/25

9.94

0.50

(

0.01

)

0.49

(

0.55

)

—

(

0.55

)

9.88

8/31/24

9.51

0.50

0.43

0.93

(

0.50

)

—

(

0.50

)

9.94

8/31/23

9.73

0.41

(

0.22

)

0.19

(

0.41

)

—

(

0.41

)

9.51

8/31/22

(f)

9.61

0.05

0.13

0.18

(

0.06

)

—

(

0.06

)

9.73

6/30/22

11.17

0.26

(

1.57

)

(

1.31

)

(

0.25

)

—

(

0.25

)

9.61

6/30/21

10.64

0.26

0.52

0.78

(

0.25

)

—

(

0.25

)

11.17

Class

R6

2/28/26

(d)

9.97

0.29

0.12

0.41

(

0.29

)

—

(

0.29

)

10.09

8/31/25

10.02

0.61

—

0.61

(

0.66

)

—

(

0.66

)

9.97

8/31/24

9.59

0.61

0.43

1.04

(

0.61

)

—

(

0.61

)

10.02

8/31/23

9.82

0.52

(

0.23

)

0.29

(

0.52

)

—

(

0.52

)

9.59

8/31/22

(f)

9.69

0.07

0.13

0.20

(

0.07

)

—

(

0.07

)

9.82

6/30/22

11.27

0.39

(

1.60

)

(

1.21

)

(

0.37

)

—

(

0.37

)

9.69

6/30/21

10.73

0.38

0.53

0.91

(

0.37

)

—

(

0.37

)

11.27

Class

I

2/28/26

(d)

9.93

0.28

0.14

0.42

(

0.29

)

—

(

0.29

)

10.06

8/31/25

9.99

0.60

(

0.01

)

0.59

(

0.65

)

—

(

0.65

)

9.93

8/31/24

9.55

0.60

0.44

1.04

(

0.60

)

—

(

0.60

)

9.99

8/31/23

9.78

0.51

(

0.23

)

0.28

(

0.51

)

—

(

0.51

)

9.55

8/31/22

(f)

9.66

0.07

0.12

0.19

(

0.07

)

—

(

0.07

)

9.78

6/30/22

11.23

0.37

(

1.58

)

(

1.21

)

(

0.36

)

—

(

0.36

)

9.66

6/30/21

10.69

0.37

0.53

0.90

(

0.36

)

—

(

0.36

)

11.23

(a)

Based

on

average

shares

outstanding.

(b)

Total

returns

are

at

NAV

and

do

not

include

any

sales

charge.

Total

returns

are

not

annualized.  

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

to

Financial

Statements

for

more

information.

(d)

Unaudited.

(e)

Annualized.

(f)

For

the

two

months

ended

August

31,

2022.

Prior

to

July

1,

2022,

the

Fund's

fiscal

year

end

was

June

30th.

See

Notes

to

Financial

Statements

86

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

(b)

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

(c)

NII

(Loss)

(c)

Portfolio

Turnover

Rate

4

.12‌

%

$

164,391

0

.86‌

%

(e)

0

.80‌

%

(e)

5

.44‌

%

(e)

54‌

%

5

.85‌

144,931

0

.87‌

0

.80‌

5

.84‌

87‌

11

.04‌

143,953

0

.93‌

0

.82‌

5

.94‌

60‌

2

.72‌

117,023

0

.96‌

0

.83‌

5

.12‌

66‌

1

.94‌

105,182

1

.02‌

(e)

0

.84‌

(e)

3

.99‌

(e)

10‌

(

11

.26‌

)

102,000

0

.93‌

0

.83‌

3

.19‌

75‌

8

.25‌

139,845

0

.95‌

0

.84‌

3

.07‌

128‌

3

.74‌

26,971

1

.61‌

(e)

1

.55‌

(e)

4

.70‌

(e)

54‌

5

.06‌

21,434

1

.62‌

1

.55‌

5

.10‌

87‌

10

.11‌

14,533

1

.68‌

1

.57‌

5

.18‌

60‌

2

.04‌

12,794

1

.71‌

1

.59‌

4

.33‌

66‌

1

.82‌

18,212

1

.77‌

(e)

1

.59‌

(e)

3

.23‌

(e)

10‌

(

11

.91‌

)

19,754

1

.68‌

1

.58‌

2

.43‌

75‌

7

.39‌

30,993

1

.70‌

1

.59‌

2

.33‌

128‌

4

.19‌

342,338

0

.53‌

(e)

0

.47‌

(e)

5

.77‌

(e)

54‌

6

.32‌

304,223

0

.54‌

0

.47‌

6

.18‌

87‌

11

.28‌

275,725

0

.59‌

0

.48‌

6

.28‌

60‌

3

.09‌

243,866

0

.62‌

0

.50‌

5

.45‌

66‌

2

.10‌

240,575

0

.69‌

(e)

0

.51‌

(e)

4

.31‌

(e)

10‌

(

10

.97‌

)

236,581

0

.59‌

0

.49‌

3

.59‌

75‌

8

.59‌

67,689

0

.62‌

0

.51‌

3

.40‌

128‌

4

.25‌

826,204

0

.61‌

(e)

0

.55‌

(e)

5

.70‌

(e)

54‌

6

.12‌

671,636

0

.62‌

0

.55‌

6

.10‌

87‌

11

.32‌

482,436

0

.68‌

0

.57‌

6

.18‌

60‌

2

.97‌

327,839

0

.71‌

0

.58‌

5

.35‌

66‌

1

.99‌

329,623

0

.77‌

(e)

0

.59‌

(e)

4

.23‌

(e)

10‌

(

11

.01‌

)

333,270

0

.68‌

0

.58‌

3

.46‌

75‌

8

.51‌

424,677

0

.70‌

0

.59‌

3

.32‌

128‌

Notes

to

Financial

Statements

87

(Unaudited)

1.

General

Information 

Trust

and

Fund

Information

:

The

Nuveen

Investment

Funds,

Inc.,

Nuveen

Investment

Trust

III

and

Nuveen

Investment

Trust

V

(each

a

“Trust”

and

collectively,

the

“Trusts”)

are

open-end

management

investment

companies

registered

under

the

Investment

Company

Act

of

1940

(the

“1940

Act”),

as

amended.

The

Nuveen

Investment

Funds,

Inc.

is

comprised

of

Nuveen

Credit

Income

Fund

(“Credit

Income”)

and

Nuveen

Strategic

Income

Fund

(“Strategic

Income”),

among

others,

Nuveen

Investment

Trust

III

is

comprised

of

Nuveen

Floating

Rate

Income

Fund

(“Floating

Rate

Income”)

and

Nuveen

High

Yield

Income

Fund

(“High

Yield

Income”),

and

Nuveen

Investment

Trust

V

is

comprised

of

Nuveen

Flexible

Income

Fund

(“Flexible

Income”)

and

Nuveen

Preferred

Securities

and

Income

Fund

(“Preferred

Securities

and

Income”)

among

others

(each

a

“Fund”

and

collectively

the

“Funds”).

Nuveen

Investment

Funds,

Inc.

was

incorporated

in

the

State

of

Maryland

on

August

20,

1987.

Nuveen

Investment

Trust

III

was

organized

as

a

Massachusetts

business

trust

on

August

20,

1998.

Nuveen

Investment

Trust

V

was

organized

as

a

Massachusetts

business

trust

on

September

27,

2006.

Current

Fiscal

Period

:

The

end

of

the

reporting

period

for

the

Funds

is

February

28,

2026,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

six

months

ended

February

28,

2026

(the

"current

fiscal

period").

Investment

Adviser

and

Sub-Advisers:

The

Funds’

investment

adviser

is

Nuveen

Fund

Advisors,

LLC

(the

“Adviser”),

a

subsidiary

of

Nuveen,

LLC

(“Nuveen”).

Nuveen

is

the

investment

management

arm

of

Teachers

Insurance

and

Annuity

Association

of

America

(TIAA).

The

Adviser

has

overall

responsibility

for

management

of

the

Funds,

oversees

the

management

of

the

Funds’

portfolios,

manages

the

Funds’

business

affairs

and

provides

certain

clerical,

bookkeeping

and

other

administrative

services,

and,

if

necessary,

asset

allocation

decisions.

The

Adviser

has

entered

into

sub-

advisory

agreements

with

Nuveen

Asset

Management

LLC

(the

“Sub-Adviser”),

a

subsidiary

of

the

Adviser,

under

which

the

Sub-Adviser

manages

the

investment

portfolios

of

the

Funds.

Share

Classes

and

Sales

Charges:

Class

A

Shares

are

generally

sold

with

an

up-front

sales

charge.

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

(“NAV”)

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(“CDSC”)

of

1%

if

redeemed

within

eighteen

months

of

purchase.

Class

C

Shares

are

sold

without

an

up-front

sales

charge

but

are

subject

to

a

CDSC

of

1%

if

redeemed

within

twelve

months

of

purchase.

Class

C

Shares

automatically

convert

to

Class

A

Shares

eight

years

after

purchase.

Class

R6

Shares

and

Class

I

Shares

are

sold

without

an

upfront

sales

charge.

2.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates.

The

Funds are investment

companies

and

follow

the accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies.

The

NAV

for

financial

reporting

purposes

may

differ

from

the

NAV

for

processing

security

and common

share

transactions.

The

NAV

for

financial

reporting

purposes

includes

security

and

common

share

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the

NAV

used

for

processing

security

and

common

share

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

Compensation

:

None

of

the

Trusts

pay

compensation

directly

to

those

of

its officers,

all

of

whom

receive

remuneration

for

their

services

to

each

Trust

from

the

Adviser

or

its

affiliates.

The

Funds'

Board

of

Directors/Trustees

(the

"Board")

has

adopted

a

deferred

compensation

plan

for

independent

trustees

that

enables

directors/trustees

to

elect

to

defer

receipt

of

all

or

a

portion

of

the

annual

compensation

they

are

entitled

to

receive

from

certain

Nuveen-advised

funds.

Under

the

plan,

deferred

amounts

are

treated

as

though

equal

dollar

amounts

had

been

invested

in

shares

of

select

Nuveen-advised

funds.

Distributions

to

Shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

Currency

Transactions

and

Translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Some

markets

in

which

the

Funds

invest

impose

capital

controls,

repatriation

limits

and/or

transaction

fees,

for

example,

on

the

amount

of

foreign

currency

that

may

be

converted

to

U.S.

dollars.

These

restrictions,

in

some

markets

where

foreign

exchange

restrictions

are

imposed,

may

be

reflected

in

non-deliverable

forward

rates

(NDF),

or

prevailing

“offshore”

rates

that

apply

to

non-local

investors.

Accordingly,

the

Fund

may

apply

NDF

rates,

or

another

alternative

exchange

rate

believed

by

the

Adviser

to

be

more

reflective

of

the

rates

at

which

the

Funds

may

transact,

where

applicable,

to

convert

the

value

of

non-U.S.

dollar

denominated

securities

to

U.S.

dollars.

The

U.S.

dollar

market

value

of

such

securities

held

in

markets

where

NDF

rates

exist

may

be

lower

than

the

U.S.

dollar

market

value

of

securities

using

prevailing

local

or

“onshore”

foreign

currency

exchange

rates.  

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

are

recognized

as

a

component

of

“Net

realized

gain

(loss)

from

foreign

currency

transactions”

on

the

Statement

of

Operations,

when

applicable.

88

Notes

to

Financial

Statements

(continued)

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Change

in

unrealized

appreciation

(depreciation)

on foreign

currency

translations”

on

the

Statement

of

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related

“Change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable.

As

of

the

end

of

the

current

fiscal

period,

the

percentage

of

investments

in

non-U.S.

securities

for

Preferred

Securities

and

Income

and

Strategic

Income

are

as

follows:

Foreign

Taxes:

The

Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

foreign

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The

Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the

Funds

invest.

Indemnifications:

Under each

Trust’s

organizational

documents,

its

officers

and

trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to each

Trust.

In

addition,

in

the

normal

course

of

business, each

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties. Each

Trust’s

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against each

Trust

that

have

not

yet

occurred.

However, each

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Investments

and

Investment

Income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Trade

date

for

senior

and

subordinated

loans

purchased

in

the

“primary

market”

is

considered

the

date

on

which

the

loan

allocations

are

determined.

Trade

date

for

senior

and

subordinated

loans

purchased

in

the

“secondary

market”

is

the

date

on

which

the

transaction

is

entered

into.

Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Dividend

income

is

recorded

on

the

ex-dividend

date

or,

for

foreign

securities,

when

information

is

available.

Non-cash

dividends

received

in

the

form

of

stock,

if

any,

are

recognized

on

the

ex-dividend

date

and

recorded

at

fair

value.

Interest

income,

which

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums

for

financial

reporting

purposes.

Interest

income

also

reflects

payment-in-kind

(“PIK”)

interest

and

paydown

gains

and

losses,

if

any.

PIK

interest

represents

income

received

in

the

form

of

securities

in

lieu

of

cash.

Fee

income

consists

primarily

of

amendment

fees,

when

applicable.

Amendment

fees

are

earned

as

compensation

for

evaluating

and

accepting

changes

to

an

original

senior

loan

agreement

and

are

recognized

when

received.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned

on

cash

collateral

investments.

Fee

income

and

amendment

fees,

if

any,

are

recognized

as

“Fees”

on

the

Statement

of

Operations.

Multiclass

Operations

and

Allocations:

Income

and

expenses

of

the

Funds that

are

not

directly

attributable

to

a

specific

class

of

shares

are

prorated

among

the

classes

based

on

the

relative

value

of

the

settled

shares

of

each

class.

 Expenses

directly

attributable

to

a

class

of

shares

are

recorded

to

the

specific

class.

12b-1

distribution

and

service

fees

are

allocated

on

a

class-specific

basis.

Preferred

Securities

and

Income

Value

%

of

Total

Investments

Country:

United

Kingdom

$

756,513,237

12.2

%

Canada

726,386,076

11.7

France

572,289,636

9.3

Spain

316,133,073

5.1

Switzerland

302,475,326

4.9

Netherlands

80,150,318

1.3

Finland

68,931,821

1.1

Mexico

63,661,530

1.0

Bermuda

53,143,706

0.9

Other

93,436,116

1.6

Total

non-U.S.

Securities

$3,033,120,839

49.1%

Strategic

Income

Value

%

of

Total

Investments

Country:

Mexico

$

43,250,123

3.1

%

Canada

29,895,529

2.1

Brazil

23,343,578

1.7

Chile

18,969,758

1.3

Saudi

Arabia

18,887,454

1.3

Turkey

15,808,876

1.1

United

Kingdom

11,340,320

0.8

South

Africa

11,255,433

0.8

Israel

11,018,959

0.8

Other

176,982,039

12.6

Total

non-U.S.

Securities

$360,752,069

25.6%

89

Sub-transfer

agent

fees

and

similar

fees,

which

are

recognized

as

a

component

of

“Shareholder

servicing

agent

fees”

on

the

Statement

of

Operations,

are

not

charged

to

Class

R6

Shares

and

are

prorated

among

the

other

classes

based

on

their

relative

settled

shares.

Realized

and

unrealized

capital

gains

and

losses

of

the

Funds

are

prorated

among

the

classes

based

on

the

relative

net

assets

of

each

class.

Netting

Agreements:

In

the

ordinary

course

of

business,

the

Funds

may

enter

into

transactions

subject

to

enforceable

master

repurchase

agreements,

International

Swaps

and

Derivatives

Association,

Inc.

(ISDA)

master

agreements

or

other

similar

arrangements

(“netting

agreements”).

Generally,

the

right

to

offset

in

netting

agreements

allows

each

Fund

to

offset

certain

securities

and

derivatives

with

a

specific

counterparty,

when

applicable,

as

well

as

any

collateral

received

or

delivered

to

that

counterparty

based

on

the

terms

of

the

agreements.

Generally,

each

Fund

manages

its

cash

collateral

and

securities

collateral

on

a

counterparty

basis.

With

respect

to

certain

counterparties,

in

accordance

with

the

terms

of

the

netting

agreements,

collateral

posted

to

the

Funds

is

held

in

a

segregated

account

by

the

Funds’

custodian

and/or

with

respect

to

those

amounts

which

can

be

sold

or

repledged

,

are

presented

in

the

Funds’

Portfolio

of

Investments

or

Statement

of

Assets

and

Liabilities.

The

Funds’

investments

subject

to

netting

agreements

as

of

the

end

of

the

current

fiscal

period,

if

any,

are

further

described

later

in

these

Notes

to

Financial

Statements.

Segment

Reporting:

Each

Fund

represents

a

single

operating

segment.

The

officers

of

the

Funds

act

as

the

chief

operating

decision

maker

(“CODM”),

as

defined

in

U.S.

GAAP.

The

CODM

monitors

the

operating

results

of

each

Fund

as

a

whole

and

is

responsible

for

each

Fund’s

long-

term

strategic

asset

allocation

in

accordance

with

the

terms

of

its

prospectus,

based

on

a

defined

investment

strategy

which

is

executed

by

the

Fund’s

portfolio

managers

as

a

team.

The

financial

information

in

the

form

of

the

Fund’s

portfolio

composition,

total

returns,

expense

ratios

and

changes

in

net

assets

(i.e.,

changes

in

net

assets

resulting

from

operations,

subscriptions

and

redemptions),

which

are

used

by

the

CODM

to

assess

the

segment’s

performance

versus

the

Fund’s

comparative

benchmarks

and

to

make

resource

allocation

decisions

for

the

Fund’s

single

segment,

is

consistent

with

that

presented

within

the

Fund’s

financial

statements.

Segment

assets

are

reflected

on

the

Statement

of

Assets

and

Liabilities

as

“total

assets”

and

significant

segment

revenues

and

expenses

are

listed

on

the

Statement

of

Operations.  

New

Accounting

Pronouncement

(ASU

No.

2023-09)

:

In

December

2023,

the

FASB

issued

Accounting

Standard

Update

("ASU")

No.

2023-09,

Income

Taxes

(Topic

740)

Improvements

to

Income

tax

disclosures

(“ASU

2023-09”).

The

primary

purpose

of

the

amendments

within

ASU

2023-09

is

to

enhance

the

transparency

and

decision

usefulness

of

income

tax

disclosures

primarily

related

to

the

rate

reconciliation

table

and

income

taxes

paid

information.

The

amendments

in

ASU

2023-09

are

effective

for

annual

periods

beginning

after

December

15,

2024.

Management

is

currently

evaluating

the

implications

of

these

changes

on

the

financial

statements. 

New

Accounting

Pronouncement

(ASU

No.

2025-11):

In

December

2025,

the

FASB

issued

ASU

No.

2025-11,

Interim

Reporting

(Topic

270)

Narrow

Scope

Improvements

(“ASU

2025-11”).

The

amendments

in

ASU

2025-11

provide

a

comprehensive

list

of

interim

disclosures

that

are

required

by

U.S.

GAAP.

ASU

2025-11

also

includes

a

disclosure

principle

that

requires

entities

to

disclose

events

since

the

end

of

the

last

annual

reporting

period

that

have

a

material

impact

on

the

entity.

The

amendments

in

ASU

2025-11

are

effective

for

interim

reporting

periods

within

annual

reporting

periods

beginning

after

December

15,

2027.

Early

adoption

is

permitted

for

all

entities.

Management

is

currently

evaluating

the

implications

of

these

changes

on

the

financial

statements.

3.

Investment

Valuation

and

Fair

Value

Measurements 

The

Funds’

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the

Funds’

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported sales

price

or

official

closing

price of such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the valuation

date.

For

events affecting

the value

of

foreign

securities

between

the

time

when

the

exchange

on

which

they

are

traded

closes

and

the

time

when

the

Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board. To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1. When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price, these

securities

are

generally

classified

as

Level

2.

90

Notes

to

Financial

Statements

(continued)

Prices

of

certain

American

Depositary

Receipts

(“ADR”)

held

by

the

Funds

that

trade

in

the

United

States

are

valued

based

on

the

last

traded

price,

official

closing

price,

or

an

evaluated

price

provided

by

the

pricing

services and

are

generally

classified

as

Level

1

or

2.

Prices

of

fixed-income

securities

are

generally

provided

by

pricing

services

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser

and

oversight

of

the

Board. Pricing

services

establish

a

security’s

fair

value

using

methods

that

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

Structured

notes

are

valued

based

upon

a

price

supplied

by

a

pricing

service

and

are

generally

classified

as

Level

2.

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

Investments

in

investment

companies

are

valued

at

their

respective

NAVs

or

share

price on

the

valuation

date

and

are

generally

classified

as

Level

1. 

Futures

contracts

are

valued

using

the

closing

settlement

price

or,

in

the

absence

of

such

a

price,

the

last

traded

price

and

are

generally

classified

as

Level

1.

Swap

contracts

are

marked-to-market

daily

based

upon

a

price

supplied

by

a

pricing

service.

Swaps

are

generally

classified

as

Level

2. 

Forward

foreign

currency

contracts

are

valued

using

the

prevailing

forward

exchange

rate

which

is

derived

from

quotes

provided

by

the

pricing

service

using

the

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the Board,

and

are

generally

classified

as

Level

2. 

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as

Level

2;

otherwise

they

would

be

classified

as

Level

3.

The

following

table

summarizes

the

market

value

of

the

Funds’

investments

as

of

the

end

of

the

current

fiscal

period,

based

on

the

inputs

used

to

value

them:

Credit

Income

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Asset-Backed

Securities

$

–

$

39,330,138

$

852,300

$

40,182,438

Common

Stocks

–

76,491

89

76,580

Corporate

Bonds

–

208,353,360

–

208,353,360

Exchange-Traded

Funds

5,008,000

–

–

5,008,000

Mortgage-Backed

Securities

–

27,986,902

–

27,986,902

Preferred

Stock

2,941,031

–

–

2,941,031

Sovereign

Debt

–

16,222,929

–

16,222,929

Variable

Rate

Senior

Loan

Interests

–

48,300,393

–

48,300,393

Investments

Purchased

with

Collateral

from

Securities

Lending

8,262,312

–

–

8,262,312

Short-Term

Investments:

Repurchase

Agreements

–

21,730,627

–

21,730,627

Investments

in

Derivatives:

Forward

Foreign

Currency

Contracts*

–

(5,373)

–

(5,373)

Futures

Contracts*

77,019

–

–

77,019

Total

$

16,288,362

$

361,995,467

$

852,389

$

379,136,218

91

Flexible

Income

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Common

Stocks

$

72,980,908

$

–

$

–

$

72,980,908

Convertible

Bonds

–

13,464,115

–

13,464,115

Convertible

Preferred

Securities

22,759,067

–

–

22,759,067

Corporate

Bonds

–

630,249,334

–

630,249,334

Preferred

Stock

56,358,443

–

–

56,358,443

Structured

Notes

–

38,774,099

–

38,774,099

Investments

Purchased

with

Collateral

from

Securities

Lending

12,659,836

–

–

12,659,836

Short-Term

Investments:

Repurchase

Agreements

–

27,600,000

–

27,600,000

Total

$

164,758,254

$

710,087,548

$

–

$

874,845,802

Floating

Rate

Income

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Common

Stocks

$

561,475

$

2,813,046

$

205,406

$

3,579,927

Corporate

Bonds

–

189,444,964

–

189,444,964

Exchange-Traded

Funds

46,844,103

–

–

46,844,103

Preferred

Stock

–

–

294,833

294,833

Variable

Rate

Senior

Loan

Interests

–

1,708,801,810

26,593

1,708,828,403

Warrants

–

153,669

453

154,122

Investments

Purchased

with

Collateral

from

Securities

Lending

6,149,517

–

–

6,149,517

Short-Term

Investments:

Investment

Companies

151,702,490

–

–

151,702,490

Investments

in

Derivatives:

Credit

Default

Swaps

-

Centrally

Cleared*

–

125,925

–

125,925

Total

$

205,257,585

$

1,901,339,414

$

527,285

$

2,107,124,284

High

Yield

Income

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Common

Stocks

$

–

$

714,634

$

–

$

714,634

Corporate

Bonds

–

466,105,370

–

466,105,370

Variable

Rate

Senior

Loan

Interests

–

55,085,860

–

55,085,860

Investments

Purchased

with

Collateral

from

Securities

Lending

12,769,191

–

–

12,769,191

Short-Term

Investments:

Investment

Companies

17,002,700

–

–

17,002,700

Total

$

29,771,891

$

521,905,864

$

–

$

551,677,755

Preferred

Securities

and

Income

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Corporate

Bonds

$

–

$

5,197,808,646

$

78,055,840

$

5,275,864,486

Exchange-Traded

Funds

75,062,294

–

–

75,062,294

Preferred

Stock

508,349,004

–

–

508,349,004

U.S.

Government

and

Agency

Obligations

–

100,732,455

–

100,732,455

Investments

Purchased

with

Collateral

from

Securities

Lending

190,584,692

–

–

190,584,692

Short-Term

Investments:

Repurchase

Agreements

–

32,578,703

–

32,578,703

Investments

in

Derivatives:

Futures

Contracts*

1,993,646

–

–

1,993,646

Total

$

775,989,636

$

5,331,119,804

$

78,055,840

$

6,185,165,280

92

Notes

to

Financial

Statements

(continued)

The

following

is

a

reconciliation

of

the

Funds’

Level

3

investments

held

at

the

beginning

and

end

of

the

measurement

period:

Strategic

Income

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Asset-Backed

Securities

$

–

$

145,231,683

$

2,378,325

$

147,610,008

Corporate

Bonds

–

445,406,962

–

445,406,962

Mortgage-Backed

Securities

–

387,492,382

–

387,492,382

Sovereign

Debt

–

120,892,224

–

120,892,224

U.S.

Government

and

Agency

Obligations

–

104,907,832

–

104,907,832

Variable

Rate

Senior

Loan

Interests

–

122,752,734

–

122,752,734

Investments

Purchased

with

Collateral

from

Securities

Lending

6,384,977

–

–

6,384,977

Short-Term

Investments:

Repurchase

Agreements

–

73,536,720

–

73,536,720

Investments

in

Derivatives:

Credit

Default

Swaps

-

Centrally

Cleared*

–

(149,775)

–

(149,775)

Forward

Foreign

Currency

Contracts*

–

(98,797)

–

(98,797)

Futures

Contracts*

226,927

–

–

226,927

Total

$

6,611,904

$

1,399,971,965

$

2,378,325

$

1,408,962,194

*

Represents

net

unrealized

appreciation

(depreciation).

Level

3

Credit

Income

Common

Stocks

Asset-Backed

Securities

Balance

at

the

beginning

of

period

$89

$535,885

Gains

(losses):

Net

realized

gains

(losses)

-

-

Change

in

net

unrealized

appreciation

(depreciation)

-

(127,257)

Purchases

at

cost

-

450,310

Sales

at

proceeds

-

-

Net

discounts

(premiums)

-

(6,638)

Transfers

into

-

-

Transfers

(out

of)

-

-

Balance

at

the

end

of

period

$89

$852,300

Change

in

net

unrealized

appreciation

(depreciation)

during

the

period

of

Level

3

securities

held

as

of

period

end

$-

$(127,257)

Level

3

Floating

Rate

Income

Common

Stocks

Variable

Rate

Senior

Loan

Interests

Preferred

Stocks

Warrants

Balance

at

the

beginning

of

period

$211,634

$26,593

$-

$12,529

Gains

(losses):

Net

realized

gains

(losses)

103,198

-

-

-

Change

in

net

unrealized

appreciation

(depreciation)

(6,228)

(13,880)

17,292

(12,076)

Purchases

at

cost

-

-

277,541

-

Sales

at

proceeds

(103,198)

-

-

-

Net

discounts

(premiums)

-

13,880

-

-

Transfers

into

-

-

-

-

Transfers

(out

of)

-

-

-

-

Balance

at

the

end

of

period

$205,406

$26,593

$294,833

$453

Change

in

net

unrealized

appreciation

(depreciation)

during

the

period

of

Level

3

securities

held

as

of

period

end

$-

$(13,880)

$17,292

$(12,076)

93

The

table

below

presents

the

transfers

in

and

out

of

the

three

valuation

levels

for

the

Funds

as

of

the

end

of

the

reporting

period

when

compared

to

the

valuation

levels

at

the

end

of

the

previous

fiscal

year.

Changes

in

valuation

inputs

or

methodologies

may

result

in

transfers

into

or

out

of

an

assigned

level

within

the

fair

value

hierarchy.

Transfers

in

or

out

of

levels

are

generally

due

to

the

availability

of

publicly

available

information

and

to

the

significance

or

extent

the

Adviser

determines

that

the

valuation

inputs

or

methodologies

may

impact

the

valuation

of

those

securities.

Level

3

Preferred

Securities

and

Income

Corporate

Bonds

Balance

at

the

beginning

of

period

$28,697,000

Gains

(losses):

Net

realized

gains

(losses)

-

Change

in

net

unrealized

appreciation

(depreciation)

49,358,840

Purchases

at

cost

-

Sales

at

proceeds

-

Net

discounts

(premiums)

-

Transfers

into

-

Transfers

(out

of)

-

Balance

at

the

end

of

period

$78,055,840

Change

in

net

unrealized

appreciation

(depreciation)

during

the

period

of

Level

3

securities

held

as

of

period

end

$49,358,840

Level

3

Strategic

Income

Asset-Backed

Securities

Balance

at

the

beginning

of

period

$1,098,735

Gains

(losses):

Net

realized

gains

(losses)

-

Change

in

net

unrealized

appreciation

(depreciation)

10,283

Purchases

at

cost

-

Sales

at

proceeds

(55,735)

Net

discounts

(premiums)

-

Transfers

into

1,325,042

Transfers

(out

of)

-

Balance

at

the

end

of

period

$2,378,325

Change

in

net

unrealized

appreciation

(depreciation)

during

the

period

of

Level

3

securities

held

as

of

period

end

$11,536

Level

1

Level

2

Level

3

Transfers

In

(Transfers

Out)

Transfers

In

(Transfers

Out)

Transfers

In

(Transfers

Out)

Strategic

Income

Asset-backed

Securities

$-

$-

$-

$(1,325,042)

$1,325,042

$-

94

Notes

to

Financial

Statements

(continued)

The

valuation

techniques

and

significant

unobservable

inputs

used

in

recurring

Level

3

fair

value

measurements

of

assets

as

of

the

end

of

the

current

fiscal

period,

were

as

follows:

4.

Portfolio

Securities

Unfunded Commitments:

Pursuant

to

the

terms

of

certain

of

the

variable

rate

senior

loan

agreements,

the

Funds

(except

Flexible

Income

and Preferred

Securities

and

Income) may

have

unfunded

senior

loan

commitments.

Each

Fund

will

maintain

with

its

custodian,

cash,

liquid

securities

and/or

liquid

senior

loans

having

an

aggregate

value

at

least

equal

to

the

amount

of

unfunded

senior

loan

commitments.

As

of

the

end

of

the

reporting

period,

the

Funds’

outstanding

unfunded

senior

loan

commitments

were

as

follows:

Participation

Commitments:

With

respect

to

the

senior

loans

held

in

each

Fund’s

portfolio,

the

Funds

(except

Flexible

Income

and Preferred

Securities

and

Income)

may:

1)

invest

in

assignments;

2)

act

as

a

participant

in

primary

lending

syndicates;

or

3)

invest

in

participations.

If

a

Fund

purchases

a

participation

of

a

senior

loan

interest,

the

Fund

would

typically

enter

into

a

contractual

agreement

with

the

lender

or

other

third

party

selling

the

participation,

rather

than

directly

with

the

borrower.

As

such,

the

Fund

not

only

assumes

the

credit

risk

of

the

borrower,

but

also

that

of

the

selling

participant

or

other

persons

interpositioned

between

the

Fund

and

the

borrower.

As

of

the

end

of

the

reporting

period,

the

Funds

had

no

such

outstanding

participation

commitments.

Securities

Lending:

Each

Fund

may

lend

securities

representing

up

to

one-third

of

the

value

of

its

total

assets

to

broker-dealers,

banks,

and

other

institutions

in

order

to

generate

additional

income.

When

loaning

securities, a

Fund

retains

the

benefits

of

owning

the

securities,

including

the

economic

equivalent

of

dividends

or

interest

generated

by

the

security.

The

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

The

Funds'

custodian,

State

Street

Bank

and

Trust

Company,

serves

as

the

securities

lending

agent

(the

“Agent”).

When

a

Fund

loans

its

portfolio

securities,

it

will

receive,

at

the

inception

of

each

loan,

cash

collateral

equal

to

an

amount

not

less

than

100%

of

the

market

value

of

the

loaned

securities.

The

actual

percentage

of

the

cash

collateral

will

vary

depending

upon

the

asset

type

of

the

loaned

securities.

Collateral

for

the

loaned

securities

is

invested

in

a

government

money

market

vehicle

maintained

by

the

Agent,

which

is

subject

to

the

requirements

of

Rule

2a-7

under

the

1940

Act.

The

value

of

the

loaned

securities

and

the

liability

to

return

the

cash

collateral

received

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

If

the

market

value

of

the

loaned

securities

increases,

the

borrower

must

furnish

additional

collateral

to

the

Fund,

which

is

also

recognized

on

the

Statement

of

Assets

and

Liabilities.

The

market

value

of

securities

loaned

is

determined

at

the

close

of

business

of

the

Funds

and

any

additional

required

collateral

is

delivered

to

the

Funds

on

the

next

business

day.

Securities

out

on

loan

are

subject

to

termination

at

any

time

at

the

option

of

the

borrower

or

the

Fund.

Upon

termination,

the

borrower

is

required

to

return

to

the

Fund

securities

identical

to

the

securities

loaned.

During

the

term

of

the

loan,

the

Fund

bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund

if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned.

Securities

lending

income

recognized

by

a

Fund

consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

recognized

on

the

Statement

of

Operations.

As

of

the

end

of

the

current

fiscal

period,

the

total

value

of

the

loaned

securities

and

the

total

value

of

collateral

received

were

as

follows:

Fund

Asset

Class

Market

Value

Techniques

Unobservable

Inputs

Range

Weighted

Average

Credit

Income

Asset-Backed

Securities

$401,990

Indicative

Trade

Broker

Quote

$26.36

N/A

450,399

Enterprise

Value

Acquisition

Cost

$15,856.00

N/A

Total

$852,389

Floating

Rate

Income

Common

Stocks

$792

Expected

Recovery

Recovery

Proceeds

$8.00

N/A

205,067

Enterprise

Value

Acquisition

Cost

$1,000.00

N/A

Preferred

Stocks

$294,833

Expected

Recovery

Recovery

Proceeds

$1,063.59

N/A

Variable

Rate

Senior

Loan

Interests

$26,594

Broker-Dealer

Price

Quotation(s)

Litigation

Proceeds

$0.55

N/A

Total

$527,286

Preferred

Securities

Corporate

Bonds

$78,055,840

Indicative

Trade

Broker

Quote

$34.00

N/A

Strategic

Income

Asset-Backed

Securities

$2,378,325

Indicative

Trade

Broker

Quote

$90.26-$101.05

$96.27

Fund

Outstanding

Unfunded

Senior

Loan

Commitments

Credit

Income

$

173,290

Floating

Rate

Income

4,195,097

Strategic

Income

328,621

95

Repurchase

Agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

each

Fund's

policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

The

following

table

presents

the

repurchase

agreements

for

the

Funds

that

are

subject

to

netting

agreements

as

of

the

end

of

the

current

fiscal

period,

and

the

collateral

delivered

related

to

those

repurchase

agreements.

Zero

Coupon

Securities:

A

zero

coupon

security

does

not

pay

a

regular

interest

coupon

to

its

holders

during

the

life

of

the

security.

Income

to

the

holder

of

the

security

comes

from

accretion

of

the

difference

between

the

original

purchase

price

of

the

security

at

issuance

and

the

par

value

of

the

security

at

maturity

and

is

effectively

paid

at

maturity.

The

market

prices

of

zero

coupon

securities

generally

are

more

volatile

than

the

market

prices

of

securities

that

pay

interest

periodically.

Purchases

and

Sales:

Long-term

purchases

and

sales during

the

current fiscal

period

were

as

follows:

The

Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period. If

a

Fund

has

outstanding

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

current

fiscal

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

5.

Derivative

Investments

Each

Fund

is

authorized

to

invest

in

certain

derivative

instruments.

As

defined

by

U.S.

GAAP,

a

derivative

is

a

financial

instrument

whose

value

is

derived

from

an

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

of

prices

or

rates,

or

other

variables.

Investments

in

derivatives

as

of

the

end

of

and/or

during

the

current

fiscal

period,

if

any,

are

included

within

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations,

respectively.

Forward

Foreign

Currency

Contracts:

During

the

current

fiscal

period,

Credit

Income

and

Strategic

Income

used

forward

foreign

currency

contracts

to

manage

non-U.S.

dollar

denominated

currency

exposure.

Aggregate

Value

of

Securities

on

Loan

Fund

Equity

Securities

Fixed

Income

Securities

Cash

Collateral

Received*

Credit

Income

$–

$7,960,979

$8,262,312

Flexible

Income

–

12,095,247

12,659,836

Floating

Rate

Income

(1)

–

–

6,149,517

High

Yield

Income

–

12,258,483

12,769,191

Preferred

Securities

and

Income

337,577

182,420,369

190,584,692

Strategic

Income

–

6,135,915

6,384,977

*May

include

cash

and

investment

of

cash

collateral.

(1)

As

of

the

close

of

the

current

fiscal

period,

the

Fund

recalled

all

securities

out

on

loan

and

returned

the

associated

collateral

to

the

Agent

on

the

next

business

day.

Fund

Counterparty

Short-term

Investments,

at

Value

Collateral

Pledged

(From)

Counterparty

Credit

Income

Fixed

Income

Clearing

Corporation

$

21,730,627

$

(22,165,469)

Flexible

Income

Fixed

Income

Clearing

Corporation

27,600,000

(28,152,185)

Preferred

Securities

and

Income

Fixed

Income

Clearing

Corporation

32,578,703

(33,230,385)

Strategic

Income

Fixed

Income

Clearing

Corporation

73,536,720

(75,007,672)

Fund

Non-U.S.

Government

Purchases

U.S.

Government

Purchases

Non-U.S.

Government

Sales

and

Maturities

U.S.

Government

Sales

Credit

Income

$

214,769,426

$

4,776,166

$

87,695,576

$

1,044,063

Flexible

Income

149,661,128

—

168,589,880

—

Floating

Rate

Income

1,010,369,797

15,888,985

585,891,386

16,000,000

High

Yield

Income

240,762,527

—

306,027,144

—

Preferred

Securities

and

Income

919,457,635

—

433,541,227

—

Strategic

Income

440,787,142

433,249,267

212,315,731

451,687,861

96

Notes

to

Financial

Statements

(continued)

A

forward

contract

is

an

agreement

between

two

parties

to

purchase

or

sell

a

specified

quantity

of

a

currency

at

or

before

a

specified

date

in

the

future

at

a

specified

price.

Non-deliverable

forward

foreign

currency

exchange

contracts

are

settled

with

the

counterparty

in

cash

without

the

delivery

of

foreign

currency.

Forward

contracts

are

typically

traded

in

the

over-the-counter

(“OTC”)

markets

and

all

details

of

the

contract

are

negotiated

between

the

counterparties

to

the

agreement.

Forward

contracts

are

marked-to-market

daily

and

any

resulting

unrealized

gains

or

losses

are

reflected

as

appreciation

or

depreciation

on

the

Statement

of

Assets

and

Liabilities.

The

Funds

realizes

gains

and

losses

at

the

time

the

forward

contracts

are

closed

and

are

included

on

the

Statement

of

Operations.

Risks

may

arise

upon

entering

into

forward

contracts

from

unanticipated

movements

in

the

value

of

a

foreign

currency

relative

to

the

U.S.

dollar;

and

that

losses

may

exceed

amounts

recognized

on

the

Statement

of

Assets

and

Liabilities.

The

average

notional

amount

of

forward

contracts

outstanding

during

the

current

fiscal

period

was

as

follows:

The

following

table

presents

the

forward

foreign

currency

contracts

subject

to

netting

agreements

and

the

collateral

delivered

related

to

those

forward

foreign

currency

contracts

as

of

the

end

of

the

reporting

period.

Credit

Default

Swap

Contracts:

A

Fund

may

enter

into

a

credit

default

swap

contract

to

seek

to

maintain

a

total

return

on

a

particular

investment

or

portion

of

its

portfolio,

or

to

take

an

active

long

or

short

position

with

respect

to

the

likelihood

of

a

particular

issuer’s

default.

During

the

current

fiscal

period,

Floating

Rate

Income

used

credit

default

swap

contracts

to

purchase

credit

protection

on

a

basket

of

high

yield

credits

and

Strategic

Income

used

credit

default

swap

index

contracts

to

gain

broad

exposure

to

the

high

yield

bond

market.

Credit

default

swap

contracts

involve

one

party

making

a

stream

of

payments

(buyer

of

protection)

to

another

party

(seller

of

protection)

in

exchange

for

the

right

to

receive

a

specified

return

if/when

there

is

a

credit

event

by

a

third

party.

Credit

events

are

agreement

specific

but

may

include

bankruptcy,

failure

to

pay,

or

restructuring.

When

a

Fund

has

bought

(sold)

protection

in

a

credit

default

swap

upon

occurrence

of

a

specific

credit

event

with

respect

to

the

underlying

referenced

entity,

the

Fund

will

either

(i)

receive

(deliver)

that

security,

or

an

equivalent

amount

of

cash,

from

the

counterparty

in

exchange

for

receipt

(payment)

of

the

notional

amount

to

the

counterparty,

or

(ii)

receive

(pay)

a

net

settlement

amount

of

the

credit

default

swap

contract

less

the

recovery

value

of

the

referenced

obligation

or

underlying

securities

comprising

the

referenced

index.

Payments

paid

(received)

at

the

beginning

of

the

measurement

period

are

reflected

as

swap

premiums

paid

(received)

on

the

Statement

of

Assets

and

Liabilities,

when

applicable.

Credit

default

swaps

are

“marked-to-market”

on

a

daily

basis

to

reflect

the

value

of

the

swap

agreement

at

the

end

of

each

trading

day

and

are

recognized

as

unrealized

appreciation

(depreciation)

on

the

Statement

of

Operations.

Credit

default

swaps

can

be

settled

either

directly

with

the

counterparty

(“OTC”)

or

through

a

central

clearinghouse

(“centrally

cleared”).

For

OTC

swaps,

the

daily

change

in

the

market

value

of

the

swap

contract,

along

with

any

daily

interest

fees

accrued,

are

recognized

as

unrealized

appreciation

(depreciation)

on

credit

default

swaps

on

the

Statement

of

Assets

and

Liabilities.

Upon

the

execution

of

a

centrally

cleared

swap,

a

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

“initial

margin,”

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

Investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statement

of

Assets

and

Liabilities.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

swap

contracts.

These

daily

cash

settlements

are

known

as

“variation

margin”

and

is

recognized

on

the

Statement

of

Assets

and

Liabilities

as

a

receivable

or

payable

for

variation

margin

on

credit

default

swaps.

The

difference

between

the

value

of

the

security

received

(delivered)

and

the

notional

amount

delivered

(received)

as

well

as

payments

received

or

made

as

a

result

of

a

credit

event

or

termination

of

a

contract

are

recognized

as

realized

gains

or

losses

on

the

Statement

of

Operations.

The

maximum

potential

amount

of

future

payments

the

Fund

could

incur

as

a

buyer

or

seller

of

protection

in

a

credit

default

swap

contract

is

limited

to

the

notional

amount

of

the

contract.

The

maximum

potential

amount

would

be

offset

by

the

recovery

value,

if

any,

of

the

respective

referenced

entity.

The

average

notional

amount

of

swap

contracts

outstanding

during

the

current

fiscal

period

was

as

follows:

Fund

Average

Notional

Amount

of

Forward

Contracts

Outstanding

*

Credit

Income

$

785,107

Strategic

Income

10,253,498

Fund

Counterparty

Gross

Unrealized

Appreciation

on

Forward

Foreign

Currency

Contracts*

Gross

Unrealized

(Depreciation)

on

Forward

Foreign

Currency

Contracts*

Net

Unrealized

Appreciation

(Depreciation)

on

Forward

Foreign

Currency

Contracts

Collateral

Pledged

to

(from)

Counterparty

Net

Exposure

Credit

Income

Morgan

Stanley

Capital

Services

LLC

$

-

$

(5,373)

$

(5,373)

$

-

$

(5,373)

Strategic

Income

Barclays

Bank

PLC

-

(37,780)

(37,780)

-

(37,780)

Morgan

Stanley

Capital

Services

LLC

$

7,474

$

(68,491)

$

(61,017)

$

-

$

(61,017)

Total

$

7,474

$

(106,271)

$

(98,797)

$

-

$

(98,797)

*  Represents

gross

unrealized

appreciation

(depreciation)

for

the

counterparty

as

reported

in

the

Funds’

Portfolio

of

Investments.

97

Futures

Contracts:

During

the

current

fiscal

period,

Credit

Income,

Preferred

Securities

and

Income

and

Strategic

Income

used

U.S.

Treasury

futures

as

part

of

their

overall

portfolio

construction

strategy

to

manage

portfolio

duration

and

yield

curve

exposure.

A

futures

contract

is

an

agreement

between

two

parties

to

buy

and

sell

a

financial

instrument

for

a

set

price

on

a

future

date.

Upon

execution

of

a

futures

contract,

the

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

“initial

margin,”

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

Investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statement

of

Assets

and

Liabilities.

During

the

period

the

futures

contract

is

open,

changes

in

the

market

value

of

the

contract

are

recognized

as

an

unrealized

gain

or

loss

by

“marking-

to-market”

on

a

daily

basis.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

contracts.

These

daily

cash

settlements

are

known

as

“variation

margin”

and

is

recognized

on

the

Statement

of

Assets

and

Liabilities

as

a

receivable

or

payable

for

variation

margin

on

futures

contracts.

When

the

contract

is

closed

or

expired,

the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

contract

on

the

closing

date

and

value

of

the

contract

when

originally

entered

into.

The

net

realized

gain

or

loss

and

the

change

in

unrealized

appreciation

(depreciation)

on

futures

contracts

held

during

the

period

is

included

on

the

Statement

of

Operations.

Risks

of

investments

in

futures

contracts

include

the

possible

adverse

movement

in

the

price

of

the

securities

or

indices

underlying

the

contracts,

the

possibility

that

there

may

not

be

a

liquid

secondary

market

for

the

contracts

and/or

that

a

change

in

the

value

of

the

contract

may

not

correlate

with

a

change

in

the

value

of

the

underlying

securities

or

indices.

The

average

notional

amount

of

futures

contracts

outstanding

during

the

current

fiscal

period

was

as

follows:

As

of the

end

of

the

current

fiscal

period,

the

following

Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statement

of

Assets

and

Liabilities

as

follows:

During

the

current

fiscal

period,

the

effect

of

derivative

contracts

on

the

Funds'

Statement

of

Operations

was

as

follows:

Fund

Average

Notional

Amount

of

Credit

Default

Swaps

Contracts

Outstanding

*

Floating

Rate

Income

$

10,613,333

Strategic

Income

36,666,667

Fund

Average

Notional

Amount

of

Futures

Contracts

Outstanding

*

Credit

Income

$

19,426,506

Preferred

Securities

and

Income

366,564,944

Strategic

Income

68,292,698

*

The

average

notional

amount

is

calculated

based

on

the

absolute

aggregate

notional

amount

of

contracts

outstanding

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Credit

Income

Futures

Contracts

Interest

rate

Unrealized

appreciation

on

futures

contracts

*

$

77,019

-

$

–

Forward

Foreign

Currency

Contracts

Foreign

currency

exchange

rate

-

–

Unrealized

depreciation

on

forward

contracts

(5,373)

1

1

1

1

1

1

1

1

Preferred

Securities

and

Income

Futures

Contracts

Interest

rate

Unrealized

appreciation

on

futures

contracts

*

1,993,646

-

–

1

1

1

1

1

1

1

1

Strategic

Income

Futures

Contracts

Interest

rate

Unrealized

appreciation

on

futures

contracts

*

226,927

-

–

Forward

Foreign

Currency

Contracts

Foreign

currency

exchange

rate

-

–

Unrealized

depreciation

on

forward

contracts

(98,797)

Credit

Default

Swaps

-

Centrally

Cleared

Credit

-

–

Unrealized

depreciation

on

swap

contracts

**

(149,775)

1

1

1

1

1

1

1

1

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts;

however,

the

value

reflected

in

the

accompanying

Statement

of

Assets

and

Liabilities

is

only

the

receivable

or

payable

for

variation

margin

on

open

futures

contracts.

98

Notes

to

Financial

Statements

(continued)

Market

and

Counterparty

Credit

Risk:

In

the

normal

course

of

business

each

Fund

may

invest

in

financial

instruments

and

enter

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk)

or

failure

of

the

other

party

to

the

transaction

to

perform

(counterparty

credit

risk).

The

potential

loss

could

exceed

the

value

of

the

financial

assets

recorded

on

the

financial

statements.

Financial

assets,

which

potentially

expose

each

Fund

to

counterparty

credit

risk,

consist

principally

of

cash

due

from

counterparties

on

forward,

option

and

swap

transactions,

when

applicable.

The

extent

of

each

Fund’s

exposure

to

counterparty

credit

risk

in

respect

to

these

financial

assets

approximates

their

carrying

value

as

recorded

on

the

Statement

of

Assets

and

Liabilities.

Each

Fund

helps

manage

counterparty

credit

risk

by

entering

into

agreements

only

with

counterparties

the

Adviser

believes

have

the

financial

resources

to

honor

their

obligations

and

by

having

the

Adviser

monitor

the

financial

stability

of

the

counterparties.

Additionally,

counterparties

may

be

required

to

pledge

collateral

daily

(based

on

the

daily

valuation

of

the

financial

asset)

on

behalf

of

each

Fund

with

a

value

approximately

equal

to

the

amount

of

any

unrealized

gain

above

a

pre-determined

threshold.

Reciprocally,

when

each

Fund

has

an

unrealized

loss,

the

Funds

have

instructed

the

custodian

to

pledge

assets

of

the

Funds

as

collateral

with

a

value

approximately

equal

to

the

amount

of

the

unrealized

loss

above

a

pre-determined

threshold.

Collateral

pledges

are

monitored

and

subsequently

adjusted

if

and

when

the

valuations

fluctuate,

either

up

or

down,

by

at

least

the

pre-determined

threshold

amount.

6.

Fund

Shares

Transactions

in Fund

shares

during

the

current

and

prior

fiscal

period

were

as

follows:

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Credit

Income

Forward

foreign

currency

contracts

Foreign

currency

exchange

rate

$

7,950

$

(8,635)

Futures

contracts

Interest

rate

142,455

(24,479)

Floating

Rate

Income

Swap

contracts

Credit

(18,738)

125,925

Preferred

Securities

and

Income

Futures

contracts

Interest

rate

7,943,046

910,576

Strategic

Income

Forward

foreign

currency

contracts

Foreign

currency

exchange

rate

133,857

(131,683)

Futures

contracts

Interest

rate

2,305,692

69,034

Swap

contracts

Credit

(112,198)

(61,468)

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Credit

Income

Shares

Value

Shares

Value

Subscriptions:

Class

A

1,029,355

$6,873,379

2,282,955

$15,290,614

Class

A

-

automatic

conversion

of

Class

C

154

1,029

308

2,056

Class

C

138,891

925,682

366,389

2,435,023

Class

I

21,285,183

142,464,984

26,375,081

175,432,785

Total

subscriptions

22,453,583

150,265,074

29,024,733

193,160,478

Reinvestments

of

distributions:

Class

A

229,076

1,529,942

584,641

3,903,492

Class

C

29,309

195,405

70,987

473,436

Class

I

1,320,556

8,834,245

981,204

6,542,355

Total

reinvestments

of

distributions

1,578,941

10,559,592

1,636,832

10,919,283

Redemptions:

Class

A

(1,135,226)

(7,589,856)

(2,871,275)

(19,190,675)

Class

C

(161,657)

(1,078,080)

(428,065)

(2,850,165)

Class

C

-

automatic

conversion

to

Class

A

(154)

(1,029)

(309)

(2,056)

Class

I

(2,844,651)

(19,033,334)

(5,642,489)

(37,816,414)

Total

redemptions

(4,141,688)

(27,702,299)

(8,942,138)

(59,859,310)

Net

increase

(decrease)

19,890,836

$133,122,367

21,719,427

$144,220,451

99

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Flexible

Income

Shares

Value

Shares

Value

Subscriptions:

Class

A

1,039,361

$20,481,940

1,424,462

$26,905,852

Class

A

-

automatic

conversion

of

Class

C

3,146

62,486

1,277

24,172

Class

C

180,406

3,563,033

126,259

2,384,651

Class

R6

1,217,213

24,356,662

77,752

1,474,868

Class

I

2,909,069

57,423,932

3,921,034

74,131,230

Total

subscriptions

5,349,195

105,888,053

5,550,784

104,920,773

Reinvestments

of

distributions:

Class

A

261,026

5,156,261

449,679

8,497,666

Class

C

110,215

2,172,358

224,529

4,234,800

Class

R6

7,834

155,922

12,574

239,325

Class

I

872,251

17,245,910

1,731,313

32,756,020

Total

reinvestments

of

distributions

1,251,326

24,730,451

2,418,095

45,727,811

Redemptions:

Class

A

(1,137,117)

(22,401,652)

(2,589,956)

(48,864,945)

Class

C

(804,419)

(15,821,296)

(2,117,089)

(39,848,883)

Class

C

-

automatic

conversion

to

Class

A

(3,152)

(62,486)

(1,279)

(24,172)

Class

R6

(58,987)

(1,171,021)

(108,265)

(2,054,292)

Class

I

(4,635,621)

(91,812,657)

(14,423,204)

(272,034,126)

Total

redemptions

(6,639,296)

(131,269,112)

(19,239,793)

(362,826,418)

Net

increase

(decrease)

(38,775)

$(650,608)

(11,270,914)

$(212,177,834)

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Floating

Rate

Income

Shares

Value

Shares

Value

Subscriptions:

Class

A

1,414,570

$25,298,948

5,285,888

$95,655,468

Class

A

-

automatic

conversion

of

Class

C

—

—

1,858

33,722

Class

C

174,339

3,121,199

628,381

11,364,708

Class

R6

33,033,558

595,611,584

4,512,867

81,874,956

Class

I

14,010,860

251,124,316

32,543,677

589,601,192

Total

subscriptions

48,633,327

875,156,047

42,972,671

778,530,046

Reinvestments

of

distributions:

Class

A

324,697

5,801,632

761,234

13,758,055

Class

C

69,191

1,236,224

169,657

3,067,018

Class

R6

1,279,747

22,946,678

986,255

17,921,662

Class

I

1,876,927

33,561,720

4,093,610

74,061,454

Total

reinvestments

of

distributions

3,550,562

63,546,254

6,010,756

108,808,189

Redemptions:

Class

A

(3,281,875)

(58,553,539)

(5,799,007)

(104,401,809)

Class

C

(525,780)

(9,403,036)

(1,036,766)

(18,746,929)

Class

C

-

automatic

conversion

to

Class

A

—

—

(1,858)

(33,722)

Class

R6

(4,793,138)

(86,380,193)

(5,252,765)

(95,546,624)

Class

I

(18,412,005)

(329,619,904)

(31,888,199)

(575,196,141)

Total

redemptions

(27,012,798)

(483,956,672)

(43,978,595)

(793,925,225)

Net

increase

(decrease)

25,171,091

$454,745,629

5,004,832

$93,413,010

100

Notes

to

Financial

Statements

(continued)

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

High

Yield

Income

Shares

Value

Shares

Value

Subscriptions:

Class

A

621,158

$11,103,081

818,647

$14,613,283

Class

A

-

automatic

conversion

of

Class

C

—

—

840

15,107

Class

C

157,137

2,808,255

224,268

4,004,875

Class

R6

187,024

3,367,251

2,212,975

39,894,865

Class

I

2,675,723

47,983,804

5,090,857

90,990,538

Total

subscriptions

3,641,042

65,262,391

8,347,587

149,518,668

Reinvestments

of

distributions:

Class

A

117,081

2,094,431

232,287

4,139,467

Class

C

21,391

382,341

45,788

814,919

Class

R6

45,019

810,649

86,098

1,543,047

Class

I

967,134

17,325,387

2,396,260

42,758,588

Total

reinvestments

of

distributions

1,150,625

20,612,808

2,760,433

49,256,021

Redemptions:

Class

A

(447,964)

(8,013,969)

(1,004,820)

(17,848,293)

Class

C

(93,307)

(1,668,027)

(300,377)

(5,330,221)

Class

C

-

automatic

conversion

to

Class

A

—

—

(840)

(15,107)

Class

R6

(54,563)

(982,970)

(2,151,348)

(38,622,505)

Class

I

(7,502,350)

(134,341,751)

(10,717,275)

(190,363,008)

Total

redemptions

(8,098,184)

(145,006,717)

(14,174,660)

(252,179,134)

Net

increase

(decrease)

(3,306,517)

$(59,131,518)

(3,066,640)

$(53,404,445)

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Preferred

Securities

and

Income

Shares

Value

Shares

Value

Subscriptions:

Class

A

3,532,982

$57,255,583

7,682,763

$120,155,000

Class

A

-

automatic

conversion

of

Class

C

—

—

1,697

26,930

Class

C

1,186,737

19,270,368

1,098,444

17,227,064

Class

R6

21,669,635

353,475,624

26,263,698

412,696,662

Class

I

40,319,691

654,601,181

77,811,701

1,216,989,771

Total

subscriptions

66,709,045

1,084,602,756

112,858,303

1,767,095,427

Reinvestments

of

distributions:

Class

A

708,028

11,502,000

1,432,171

22,432,813

Class

C

156,882

2,550,042

356,562

5,588,025

Class

R6

1,433,620

23,373,809

1,907,089

29,999,323

Class

I

6,308,468

102,578,677

12,233,625

191,841,229

Total

reinvestments

of

distributions

8,606,998

140,004,528

15,929,447

249,861,390

Redemptions:

Class

A

(3,667,399)

(59,381,599)

(8,352,879)

(130,606,969)

Class

C

(1,356,503)

(21,988,428)

(2,706,946)

(42,329,861)

Class

C

-

automatic

conversion

to

Class

A

—

—

(1,696)

(26,930)

Class

R6

(5,666,180)

(92,253,172)

(15,043,589)

(236,097,567)

Class

I

(34,287,709)

(555,990,337)

(73,078,945)

(1,141,388,008)

Total

redemptions

(44,977,791)

(729,613,536)

(99,184,055)

(1,550,449,335)

Net

increase

(decrease)

30,338,252

$494,993,748

29,603,695

$466,507,482

101

7.

Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

As

of

the

end

of

the

reporting

period,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of

prior

fiscal

period

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Strategic

Income

Shares

Value

Shares

Value

Subscriptions:

Class

A

3,414,376

$34,183,518

4,876,876

$48,144,280

Class

A

-

automatic

conversion

of

Class

C

43

427

2,824

27,902

Class

C

693,034

6,906,320

1,199,989

11,836,037

Class

R6

3,883,588

39,019,368

5,427,815

53,714,595

Class

I

23,919,008

239,492,086

34,138,673

336,967,623

Total

subscriptions

31,910,049

319,601,719

45,646,177

450,690,437

Reinvestments

of

distributions:

Class

A

358,191

3,588,544

770,855

7,621,078

Class

C

49,638

494,909

95,960

943,896

Class

R6

918,193

9,230,963

1,882,852

18,677,958

Class

I

1,772,336

17,756,637

3,138,098

31,010,735

Total

reinvestments

of

distributions

3,098,358

31,071,053

5,887,765

58,253,667

Redemptions:

Class

A

(2,019,590)

(20,223,492)

(5,472,949)

(54,018,163)

Class

C

(216,577)

(2,157,424)

(586,954)

(5,767,776)

Class

C

-

automatic

conversion

to

Class

A

(43)

(427)

(2,836)

(27,902)

Class

R6

(1,403,635)

(14,098,629)

(4,297,518)

(42,344,642)

Class

I

(11,168,209)

(111,794,016)

(17,956,725)

(176,745,455)

Total

redemptions

(14,808,054)

(148,273,988)

(28,316,982)

(278,903,938)

Net

increase

(decrease)

20,200,353

$202,398,784

23,216,960

$230,040,166

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

Credit

Income

$

377,524,700

$

6,131,875

$

(4,520,357)

$

1,611,518

Flexible

Income

831,846,931

48,708,196

(5,709,325)

42,998,871

Floating

Rate

Income

2,152,725,787

13,249,003

(57,750,066)

(44,501,063)

High

Yield

Income

543,222,084

11,976,481

(3,520,810)

8,455,671

Preferred

Securities

and

Income

6,078,741,699

250,525,250

(144,101,669)

106,423,581

Strategic

Income

1,405,272,533

27,026,249

(24,722,812)

2,303,437

102

Notes

to

Financial

Statements

(continued)

As

of

prior

fiscal

period

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

8.

Management

Fees

and

Other

Transactions

with

Affiliates

Management

Fees:

Each

Fund’s

management

fee

compensates

the

Adviser

for

the

overall

investment

advisory

and

administrative

services

and

general

office

facilities.

The

Sub-Adviser

is

compensated

for

its

services

to

the

Funds

from

the

management

fees

paid

to

the

Adviser.

Each

Fund’s

management

fee

consists

of

two

components

–

a

fund-level

fee,

based

only

on

the

amount

of

assets

within

each

individual

Fund,

and

a

complex-level

fee,

based

on

the

aggregate

amount

of

all

eligible

fund

assets

managed

by

the

Adviser.

This

pricing

structure

enables

each

Fund’s

shareholders

to

benefit

from

growth

in

the

assets

within

their

respective

Fund

as

well

as

from

growth

in

the

amount

of

complex-wide

assets

managed

by

the

Adviser.

The

annual

fund-level

fee,

payable

monthly,

for

each

Fund

is

calculated

according

to

the

following

schedule:

The

annual

complex-level

fee,

payable

monthly,

for

each

Fund

is

calculated

according

to

the

following

schedule:

*

The

complex-level

fee

is

calculated

based

upon

the

aggregate

daily

“eligible

assets”

of

all

Nuveen-branded

closed-end

funds

and

Nuveen

branded

open-end

funds

(“Nuveen

Mutual

Funds”).

Except

as

described

below,

eligible

assets

include

the

assets

of

all

Nuveen-branded

closed-end

funds

and

Nuveen

Mutual

Funds

organized

in

the

United

States.

Eligible

assets

do

not

include

the

net

assets

of:

Nuveen

fund-of-funds,

Nuveen

money

market

funds,

Nuveen

index

funds,

Nuveen

Large

Cap

Responsible

Equity

Fund

or

Nuveen

Life

Large

Cap

Responsible

Equity

Fund.

In

addition,

eligible

assets

include

a

fixed

percentage

of

the

aggregate

net

assets

of

the

active

equity

and

fixed

income

Nuveen

Mutual

Funds

advised

by

the

Adviser’s

affiliate,

Teachers

Advisors,

LLC

(except

those

identified

above).

The

fixed

percentage

will

increase

annually

until

May

1,

2033,

at

which

time

eligible

assets

will

include

all

of

the

aggregate

net

assets

of

the

active

equity

and

fixed

income

Nuveen

Mutual

Funds

advised

by

Teachers

Advisors,

LLC

(except

those

identified

above).

Eligible

assets

include

closed-end

fund

assets

managed

by

the

Adviser

that

are

attributable

to

financial

leverage.

For

these

purposes,

financial

leverage

includes

the

closed-end

funds’

use

of

preferred

stock

and

borrowings

and

certain

investments

Fund

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital

Gains

Unrealized

Appreciation

(Depreciation)

Capital

Loss

Carryforwards

Late-Year

Loss

Deferrals

Other

Book-to-Tax

Differences

Total

Credit

Income

$

1,211,208

$

—

$

2,529,804

$

(140,916,434)

$

—

$

(1,398,757)

$

(138,574,179)

Flexible

Income

—

—

28,239,591

(256,678,566)

—

(3,545,409)

(231,984,384)

Floating

Rate

Income

3,508,090

—

(11,430,055)

(308,623,502)

—

(10,428,723)

(326,974,190)

High

Yield

Income

4,421,103

—

10,562,585

(221,038,525)

—

(4,078,677)

(210,133,514)

Preferred

Securities

and

Income

370,633

—

(12,603,873)

(463,632,281)

—

(26,337,389)

(502,202,910)

Strategic

Income

2,797,909

—

(5,958,697)

(104,107,411)

—

(5,642,041)

(112,910,240)

Fund

Short-Term

Long-Term

Total

Credit

Income

$

46,905,679

$

94,010,755

$

140,916,434

Flexible

Income

78,595,619

178,082,947

256,678,566

Floating

Rate

Income

74,763,786

233,859,716

308,623,502

High

Yield

Income

27,208,918

193,829,607

221,038,525

Preferred

Securities

and

Income

114,038,738

349,593,543

463,632,281

Strategic

Income

40,108,436

63,998,975

104,107,411

Average

Daily

Net

Assets

Credit

Income

Flexible

Income

Floating

Rate

Income

High

Yield

Income

Preferred

Securities

and

Income

Strategic

Income

For

the

first

$125

million

0.4000

%

0.5500

%

0.4500

%

0.4500

%

0.5500

%

0.3600

%

For

the

next

$125

million

0.3875

0.5375

0.4375

0.4375

0.5375

0.3475

For

the

next

$250

million

0.3750

0.5250

0.4250

0.4250

0.5250

0.3350

For

the

next

$500

million

0.3625

0.5125

0.4125

0.4125

0.5125

0.3225

For

the

next

$1

billion

0.3500

0.5000

0.4000

0.4000

0.5000

0.3100

For

the

next

$3

billion

0.3250

0.4750

0.3750

0.3750

0.4750

0.2850

For

the

next

$5

billion

0.3000

0.4500

0.3500

0.3500

0.4500

0.2600

For

net

assets

over

$10

billion

0.2875

0.4375

0.3375

0.3375

0.4375

0.2475

Complex-Level

Asset

Breakpoint

Level*

Complex-Level

Fee

For

the

first

$124.3

billion

0.1600

%

For

the

next

$75.7

billion

0.1350

For

the

next

$200

billion

0.1325

For

eligible

assets

over

$400

billion

0.1300

103

in

the

residual

interest

certificates

(also

called

inverse

floating

rate

securities)

in

tender

option

bond

(TOB)

trusts,

including

the

portion

of

assets

held

by

a

TOB

trust

that

has

been

effectively

financed

by

the

trust’s

issuance

of

floating

rate

securities,

subject

to

an

agreement

by

the

Adviser

as

to

certain

funds

to

limit

the

amount

of

such

assets

for

determining

eligible

assets

in

certain

circumstances.

As

of

the

end

of

the

current

fiscal

period,

the

complex-level

fee

rate

for

each

Fund

was

as

follows:

The

Adviser

has

agreed

to

waive

fees

and/or

reimburse

expenses

(“Expense

Cap”)

of

the

Funds

so

that

the

total

annual

Fund

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

the

average

daily

net

assets

of

any

class

of

Fund

shares

in

the

amounts

and

for

the

time

periods

stated

in

the

following

table.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

fund

operating

expense

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

The

temporary

expense

limitations

may

be

terminated

or

modified

prior

to

expiration

date

only

with

the

approval

of

the

Board.

The

expense

limitations

in

effect

thereafter

may

be

terminated

or

modified

only

with

the

approval

of

shareholders

of

each

Fund.

Distribution

and

Service

Fees:

 Each

Fund

has

adopted

a

distribution

and

service

plan

under

rule

12b-1

under

the

1940

Act.

Class

A

Shares

incur

a

0.25%

annual

12b-1

service

fee.

Class

C

Shares

incur

a

0.75%

annual

12b-1

distribution

fee

and

a

0.25%

annual

12b-1

service

fee.

Class

R6

Shares

and

Class

I

Shares

are

not

subject

to

12b-1

distribution

or

service

fees.

The

fees

under

this

plan

compensate

Nuveen

Securities,

LLC,

(the

“Distributor”),

a

wholly-owned

subsidiary

of

Nuveen,

for

services

provided

and

expenses

incurred

in

distributing

shares

of

the

Funds

and

establishing

and

maintaining

shareholder

accounts.

Other

Transactions

with

Affiliates:

The

Funds

receive

voluntary

compensation

from

the

Adviser

in

amounts

that

approximate

the

cost

of

research

services

obtained

from

broker-dealers

and

research

providers

if

the

Adviser

had

purchased

the

research

services

directly.

This

income

received

by

the

Funds

is

recognized

in

"Affiliated

income"

on

the

Statement

of

Operations

and

any

amounts

due

to

the Funds

at

the

end

of

the

current

fiscal

period

is

recognized

in

"Reimbursement

from

Adviser"

on

the

Statement

of

Assets

and Liabilities.  During

the

current

fiscal

period,

the

values

of

voluntary

compensation

were

as

follows:

The

Funds are

permitted

to

purchase

or

sell

securities

from

or

to

certain

other

funds

or

accounts

managed

by

the

Sub-Adviser

or

by

an

affiliate

of

the

Adviser (each

an,

“Affiliated

Entity”)

under

specified

conditions

outlined

in

procedures

adopted

by

the

Board

("cross-trade").

These

procedures

have

been

designed

to

ensure

that

any

cross-trade

of

securities

by

the

Fund

from

or

to

an

Affiliated

Entity

by

virtue

of

having

a

common

investment

Fund

Complex-Level

Fee

Credit

Income

0.1555

%

Flexible

Income

0.1555

Floating

Rate

Income

0.1555

High

Yield

Income

0.1555

Preferred

Securities

and

Income

0.1555

Strategic

Income

0.1555

Fund

Temporary

Expense

Cap

Temporary

Expense

Cap

Expiration

Date

Permanent

Expense

Cap

Credit

Income

0.75%

July

31,

2027

N/A

Flexible

Income

0.75%

July

31,

2027

1.25%

Floating

Rate

Income

0.85%

July

31,

2027

1.10%

High

Yield

Income

0.79%

July

31,

2027

1.35%

Preferred

Securities

and

Income

N/A

N/A

1.25%

Strategic

Income

0.59%

July

31,

2027

N/A

N/A

-

Not

Applicable.

Fund

Value

Credit

Income

$

—

Flexible

Income

8,993

Floating

Rate

Income

—

High

Yield

Income

—

Preferred

Securities

and

Income

—

Strategic

Income

—

104

Notes

to

Financial

Statements

(continued)

adviser

(or

affiliated

investment

adviser),

common

officer

and/or

common

trustee

complies

with

Rule

17a-7

under

the

1940

Act.

These

transactions

are

effected

at

the

current

market

price

(as

provided

by

an

independent

pricing

service)

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

did

not

engage

in

cross-trades

pursuant

to

these

procedures.

During

the

current

fiscal

period,

the

Distributor,

collected

sales

charges

on

purchases

of

Class

A

Shares,

the

majority

of

which

were

paid

out

as

concessions

to

financial

intermediaries

as

follows:

The

Distributor

also

received

12b-1

service

fees

on

Class

A

Shares,

substantially

all

of

which

were

paid

to

compensate

financial

intermediaries

for

providing

services

to

shareholders

relating

to

their

investments.

During

the

current

fiscal

period,

the

Distributor

compensated

financial

intermediaries

directly

with

commission

advances

at

the

time

of

purchase

as

follows:

To

compensate

for

commissions

advanced

to

financial

intermediaries,

all

12b-1

service

and

distribution

fees

collected

on

Class

C

Shares

during

the

first

year

following

a

purchase

are

retained

by

the

Distributor.

During

the

current

fiscal

period,

the

Distributor

retained

such

12b-1

fees

as

follows:

The

remaining

12b-1

fees

charged

to

each

Fund

were

paid

to

compensate

financial

intermediaries

for

providing

services

to

shareholders

relating

to

their

investments.

The

Distributor

also

collected

and

retained

CDSC

on

share

redemptions

during

the

current

fiscal

period,

as

follows: 

Fund

Sales

Charges

Collected

Paid

to

Financial

Intermediaries

Credit

Income

$

32,642

$

28,876

Flexible

Income

86,174

80,865

Floating

Rate

Income

75,495

70,223

High

Yield

Income

120,121

105,405

Preferred

Securities

and

Income

311,774

286,752

Strategic

Income

235,041

222,805

Fund

Commission

Advances

Credit

Income

$

8,493

Flexible

Income

65,618

Floating

Rate

Income

70,641

High

Yield

Income

18,268

Preferred

Securities

and

Income

279,153

Strategic

Income

195,187

Fund

12b-1

Fees

Retained

Credit

Income

$

7,734

Flexible

Income

10,900

Floating

Rate

Income

33,194

High

Yield

Income

8,474

Preferred

Securities

and

Income

68,402

Strategic

Income

33,914

Fund

CDSC

Retained

Credit

Income

$

420

Flexible

Income

1,427

Floating

Rate

Income

14,505

High

Yield

Income

103

Preferred

Securities

and

Income

2,433

Strategic

Income

2,804

105

Affiliated

Owned

Shares:

As

of

the

end

of

the

current

fiscal

period,

the

percentage

of

Fund

shares

owned

by

affiliates

was

as

follows:

Affiliated

Investments:

 Investments

in

other

investment

companies

advised

by

the

Adviser

are

deemed

to

be “affiliated

investments”.

A

complete

schedule

of

the

portfolio

holdings

for

each

of

the

affiliated

investments

is

filed

with

the

SEC

for

the

first

and

third

quarters

of

each

fiscal

year

on

Form

N-PORT

and

is

available

on

the

SEC’s

website

at

www.sec.gov.

A

copy

of

the

annual

report,

semi-annual

report

and

financial

statements

is

available

for

each

of

the

affiliated

investments

at

https://www.nuveen.com/en-us/mutual-funds/prospectuses,

or

upon

request

by

calling

(800)

257-8787.

Information

regarding

transactions

with

affiliated investments

is

as

follows: 

9.

Borrowing

Arrangements

Line

of

Credit:

The

Funds,

along

with

certain

funds

managed

by

the

Adviser

or

by

an

affiliate

of

the

Adviser

(“Participating

Funds”),

have

established

a

364-day,

$2.7

billion

standby

credit

facility

with

a

group

of

lenders,

under

which

the

Participating

Funds

may

borrow

for

temporary

purposes

(other

than

on-going

leveraging

for

investment

purposes).

Each

Participating

Fund

is

allocated

a

designated

proportion

of

the

facility’s

capacity

(and

its

associated

costs,

as

described

below)

based

upon

a

multi-factor

assessment

of

the

likelihood

and

frequency

of

its

need

to

draw

on

the

facility,

the

size

of

the

Fund

and

its

anticipated

draws,

and

the

potential

importance

of

such

draws

to

the

operations

and

well-being

of

the

Fund,

relative

to

those

of

the

other

Funds.

A

Fund

may

effect

draws

on

the

facility

in

excess

of

its

designated

capacity

if

and

to

the

extent

that

other

Participating

Funds

have

undrawn

capacity.

The

credit

facility

expires

in

June

2026,

unless

extended

or

renewed. 

The

credit

facility

has

the

following

terms:

0.15%

per

annum

on

unused

commitment

amounts

and

a

drawn

interest

rate

equal

to

the

higher

of

(a)

OBFR

(Overnight

Bank

Funding

Rate)

plus

1.20%

per

annum

or

(b)

the

Fed

Funds

Effective

Rate

plus

1.20%

per

annum

on

amounts

borrowed. Interest

expense

incurred

by

the

Participating

Funds,

when

applicable,

is

recognized

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations.

Participating

Funds

paid

administration,

legal

and

arrangement

fees,

which

are

recognized

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations,

and

along

with

commitment

fees,

have

been

allocated

among

such

Participating

Funds

based

upon

the

relative

proportions

of

the

facility’s

aggregate

capacity

reserved

for

them

and

other

factors

deemed

relevant

by

the

Adviser

and

the

Board

of

each

Participating

Fund.

During

the

current

fiscal

period,

the

Funds

did

not

utilize

this

facility.

Fund

Nuveen

Owned

Shares

Flexible

Income

-%*

Floating

Rate

Income

-%*

*Rounds

to

less

than

1%.

Underlying

Fund

Nuveen

Lifecycle

Funds

Total

Credit

Income

–%

–%

Flexible

Income

–%

–%

Floating

Rate

Income

27%

27%

High

Yield

Income

–%

–%

Preferred

Securities

and

Income

–%

–%

Strategic

Income

–%

–%

Issue

Value

at

8/31/25

Purchases

Cost

Sales

Proceeds

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Shares

at

2/28/26

Value

at

2/28/26

Dividend

Income

Credit

Income

Exchange-Traded

Funds

Nuveen

High

Yield

Corporate

Bond

ETF

$–

$4,985,000

$–

$–

$23,000

200,000

$5,008,000

$30,020

Total

$–

$4,985,000

$–

$–

$23,000

200,000

$5,008,000

$30,020

Floating

Rate

Income

Exchange-Traded

Funds

Nuveen

AA-BBB

CLO

ETF

$–

$1,002,600

$–

$–

$(200)

40,000

$1,002,400

$10,060

Total

$–

$1,002,600

$–

$–

$(200)

40,000

$1,002,400

$10,060

Preferred

Securities

and

Income

Exchange-Traded

Funds

Nuveen

Preferred

And

Income

ETF

$–

$74,903,375

$–

$–

$158,919

2,847,000

$75,062,294

$588,947

Total

$–

$74,903,375

$–

$–

$158,919

2,847,000

$75,062,294

$588,947

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

The Funds do not pay any remuneration to their officers, but the Funds do reimburse Nuveen Fund Advisors, LLC, the Funds’ investment adviser and an affiliate of the Funds’ officers, for an allocable portion of Nuveen Fund Advisors, LLC’s cost of the compensation for the Funds’ Chief Compliance Officer. The aggregate remuneration paid to the directors/trustees (all of whom are independent) and to Nuveen Fund Advisors, LLC, the Funds’ investment adviser and an affiliate of the Funds’ officers, by each Fund is reported as “Directors/Trustees fees” and “Management fees” on the Statement of Operations under Item 7 of this Form N-CSR.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to open-end investment companies.

Item 15. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees implemented after the registrant last provided disclosure in response to this Item.

Item 16. Controls and Procedures.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

(a) Not applicable to open-end investment companies.

(b) Not applicable to open-end investment companies.

Item 18. Recovery of Erroneously Awarded Compensation.

(a) Not applicable.

(b) Not applicable.

Item 19. Exhibits.

(a)(1)	Not applicable to this filing.
(a)(2)	Not applicable to this filing.
(a)(3)	Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.
(a)(4)	Not applicable.
(a)(5)	Not applicable.
(b)	Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Nuveen Investment Trust V

Date: May 7, 2026	By:	/s/ Jordan M. Farris
		Jordan M. Farris Chief Administrative Officer

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date: May 7, 2026	By:	/s/ Jordan M. Farris
		Jordan M. Farris Chief Administrative Officer (principal executive officer)

Date: May 7, 2026	By:	/s/ Marc Cardella
		Marc Cardella Vice President and Controller (principal financial officer)