Six Circles Trust

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Investments in a Fund are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money if you sell when a Fund’s share price is lower than when you invested.

Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets. References to specific securities and their issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. Such views are not meant as investment advice and may not be relied on as an indication of trading intent on behalf of any Fund.

For additional information about the risks of investing in the Funds’ see section 5 starting on page 290.

For more complete information about the Funds, including the Funds’ objectives, risks, charges and expenses, call your J.P. Morgan representative or call 1-212-464-2070 or go to www.sixcirclesfunds.com for a prospectus. Read the prospectus carefully. An investment in these Funds and any other Fund is not designed to be a complete investment program. The Funds are NOT designed to be used as stand-alone investments.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Ultra Short Duration Fund (the “Fund”) seeks to generate current income consistent with capital preservation. The Fund mainly invests in U.S. dollar and non-U.S. dollar denominated investment grade short-term fixed and floating rate debt securities. The Fund allocates assets among securities with various maturities which, under normal market conditions, will not exceed an average effective portfolio duration of two years.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”) constructs the Fund’s portfolios by allocating the Fund’s assets among investment strategies managed by one or more sub-advisers retained by the Adviser (each a “Sub-Adviser”).

The Adviser currently engages the following Sub-Advisers:

•

Goldman Sachs Asset Management, L.P. (“Goldman”)^(a)

•

BlackRock Investment Management, LLC (“BlackRock”)

•

Pacific Investment Management Company LLC (“PIMCO”)

^(a)	During the reporting period, the Adviser did not allocate Fund assets to Goldman

The Adviser may adjust allocations to the Sub-Advisers at any time or make recommendations to the Board of Trustees of the Six Circles Trust (the “Board”) with respect to the hiring, termination or replacement of a Sub-Adviser. As such, the identity of the Fund’s Sub-Advisers, the investment strategies they pursue and the portion of the Fund allocated to them, may change over time.

The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the broader Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2022 through June 30, 2022 (the “reporting period”), the Fund posted a negative return on

an absolute basis, and underperformed relative to the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Investment Grade Credit and Securitized Credit comprised approximately 79% of the Fund’s exposure on a look-through basis at the end of the reporting period, and were the Fund’s largest sector overweights relative to the Index. During the reporting period, both sectors detracted from the Fund’s performance on an absolute basis as well as relative to the Index.

The Fund’s exposure to Government Bonds was the Fund’s largest sector underweight relative to the Index and comprised approximately 6% of the Fund’s exposure on a look-through basis at the end of the reporting period. During the reporting period, the sector detracted from the Fund’s performance on an absolute basis but contributed to performance relative to the Index.

On an allocation level, both Fund’s allocations to Global Markets and Core Ultra Short strategies detracted from the Fund’s return on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period the Fund was allocated to two Sub-Advisers as follows.


PORTFOLIO ALLOCATION***
Core Ultra Short (BlackRock)	70	%
Global Markets (PIMCO)	30

The return shown is based on the net asset value calculated for shareholder transactions. Certain adjustments were made to the net assets of the Fund at June 30, 2022 for financial reporting purposes, and as a result, the net asset value for shareholder transactions and the total return based on that net asset value may differ from the adjusted net assets and the total return for financial reporting.

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Within the fixed income allocation on the broader Portfolio level, the Adviser prefers high-quality liquid investments combined with flexibility to implement opportunistic ideas across fixed income markets. The majority of the Fund’s assets were invested into the more liquid segments of the fixed income market, with approximately 96% of the Fund invested in instruments with maturities of three years and under as of June 30, 2022.

The Adviser allocates to the two Sub-Advisers, with the expectation that the Sub-Advisers will capitalize on the opportunities present in the segment of the fixed income market that their specific mandate is focused on.

The Core Ultra Short allocation, which comprised approximately 70% of the Fund as of June 30, 2022, invests in a diversified fixed income portfolio on the shorter end of the U.S. fixed income market, balancing income against credit quality, within the context of the broader portfolios.

The Global Markets allocation, which comprised approximately 30% of the Fund as of June 30, 2022, has a broad investment universe, seeking total return opportunities within the global fixed income markets.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*			1 Year			Since Inception (July 9, 2018)
Six Circles Ultra Short Duration Fund		(1.11	)%		(1.30	)%		1.16	%

*	Not Annualized

GROWTH OF $10,000 REPORT (07/09/2018 TO 06/30/2022)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

²⁾	0.23% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Fund’s derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.31% and 0.18% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Ultra Short Duration Fund and the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index from July 9, 2018 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index measures the performance of public obligations of the U.S. Treasury that have a remaining maturity of greater than or equal to 1 month and less than 3 months. Investors cannot invest directly in an index.

Fund performance may reflect the waiver of the Fund’s fees and/or reimbursement of expenses for certain periods since the inception date. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or redemptions or sales of Fund shares.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) and is licensed for use by JP MORGAN CHASE BANK NA. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Tax Aware Ultra Short Duration Fund (the “Fund”) seeks to generate current income consistent with capital

preservation. The Fund invests at least 50% of its net assets in municipal securities, the income from which is exempt from federal income tax ⁽¹⁾. The Fund also may invest in taxable instruments. The Fund allocates assets among securities with various maturities which, under normal market conditions, will not exceed an average effective portfolio duration of two years.

INVESTMENT APPROACH

The Adviser currently engages the following Sub-Advisers:

•

Goldman Sachs Asset Management, L.P. (“Goldman”)^(a)

•

Insight North America LLC (“Insight”)

•

Pacific Investment Management Company LLC (“PIMCO”)

^(a)	During the reporting period, the Adviser did not allocate Fund assets to Goldman

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2022 through June 30, 2022 (the “reporting period”), the Fund posted a negative return on

an absolute basis and underperformed relative to the iMoneyNet Tax-Free National Institutional Money Market Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Municipal Bonds and Investment Grade Credit were the largest sector exposures in the Fund on a look-through basis and comprised approximately 69% and 11% of the Fund, respectively, at the end of the reporting period. Both exposures detracted from the Fund’s performance on an absolute basis.

On allocation level, both of the Fund’s allocations to Global Markets and Core Municipal Ultra Short strategies detracted from the Fund’s return on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period the Fund was allocated to two Sub-Advisers as follows.


PORTFOLIO ALLOCATION***
Core Municipal Ultra Short (Insight)	70	%
Global Markets (PIMCO)	30

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

¹⁾

Interest on Municipal securities is exempt from federal income tax however interest on certain bonds may be subject to the federal alternative minimum tax for individuals.

invested into the more liquid segments of the fixed income market, with approximately 98% of the Fund invested in instruments with maturities of three years and under as of June 30, 2022.

The Core Municipal Ultra Short allocation, which comprised approximately 70% of the Fund as of June 30, 2022, invests in a diversified fixed income portfolio on the shorter end of the U.S. municipal fixed income market, balancing income against credit quality, within the context of the broader portfolio.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*	1 Year			Since Inception (July 9, 2018)
Six Circles Tax Aware Ultra Short Duration Fund	(0.84)%		(0.90	)%		0.88	%

*	Not Annualized

GROWTH OF $10,000 REPORT (07/09/2018 TO 06/30/2022)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS®) and may differ from categories listed within the Schedule of Investments.

²⁾	0.15% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Funds derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.30% and 0.15% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Tax Aware Ultra Short Duration Fund and the iMoneyNet Tax-Free National Institutional Money Market Index from July 9, 2018 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. Although the performance of the iMoneyNet Tax-Free National Institutional Money Market Index reflects returns of constituent mutual funds net of expenses, the index itself is unmanaged and no expenses are deducted at the index level. The performance of the Index has also been adjusted to reflect reinvestment of all dividends and capital gain distributions of the mutual funds included in the Index, if applicable.

The iMoneyNet Tax-Free National Institutional Money Market Index is an average of all tax-free and municipal, U.S.-domiciled institutional and retail money market funds. Investors cannot invest directly in an index.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles U.S. Unconstrained Equity Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests at least 80% of its net assets in equity securities issued by U.S. companies and other instruments with economic characteristics similar to equity securities issued by U.S. companies. The Fund is generally unconstrained by any particular capitalization, style or industry sector.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the broader Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2022 through June 30, 2022 (the “reporting period”), the Fund posted a negative return on an absolute basis, but outperformed relative to the MSCI USA Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Health Care, Industrials and Communications Services sectors comprised approximately 52% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector overweights relative to the Index. During the reporting period, Health care contributed to the fund’s performance on an absolute basis while Industrials and Communication Services detracted. Relative to the Index Health Care and Industrials contributed while Communication Services detracted.

Consumer Staples, Energy and Information Technology sectors comprised approximately 27% of the Fund’s sector exposure on a look-through basis at the end of the reporting period and were the Fund’s largest sector underweights relative to the Index. Energy contributed to the Fund’s performance on an absolute basis while Consumer Staples and Information Technology detracted. Relative to the Index, Information Technology contributed to the Fund’s return while positioning in Energy and Consumer Staples detracted.

On an allocation level, the Fund’s allocation to U.S. Pharmaceuticals was the largest contributor on an absolute basis, whereas U.S. Interactive Media & Services was the largest detractor to the Fund’s return on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to fourteen strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
U.S. Software	15	%
U.S. Pharmaceuticals	12
U.S. Interactive Media & Services	12
U.S. Financials	11
U.S. Managed Health Care	9
US Internet Retail	9
U.S. Air, Freight & Logistics	6
U.S. Industrials	6
USA	6
U.S. Data Processing	5
U.S. Life Sciences, Tools & Services	3
U.S. Beverages	2
U.S. Biotechnology	2
U.S. Semiconductors & Semiconductor Equipment	2

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Allocation to Broad USA comprised approximately 6% of the Fund as of June 30, 2022. Within the context of the broader Portfolios, the Adviser believes that an allocation to Broad USA provides the ability to tactically allocate to broad U.S. large cap exposure and use as a potential funding source for future targeted allocations.

Allocation to U.S. Software and U.S. Internet Retail provides what the Adviser believes is a multi-year opportunity for the leaders in this space to take advantage of businesses shifting workloads onto Cloud-based platforms. These exposures collectively comprised approximately 24% of the Fund as of June 30, 2022.

Allocation to U.S. Interactive Media & Services focuses on companies engaged in content and information creation or distribution through proprietary platforms, where revenues are derived primarily through pay-per-click advertisements. This allocation was approximately 12% of the Fund as of June 30, 2022. The Adviser believes in the opportunities available in the cloud market and views this exposure as potential for continued strength in earnings growth.

Allocation to U.S. Financials comprised approximately 11% of the Fund as of June 30, 2022. The Adviser believes in capital adequacy and dividend sustainability in the sector and has conviction in the position given compelling valuations and more realistic market expectations about potential credit costs and buybacks.

Allocation to U.S. Pharmaceuticals and U.S. Biotechnology comprised approximately 12% and 2% of the Fund respectively, as of June 30, 2022. The Adviser believes that Pharmaceutical companies have strong fundamentals with attractive valuations in the current market. Biotechnology sector focuses on the companies primarily engaged in the research, development, manufacturing and /or marketing of products based on genetic analysis and genetic engineering.

Allocation to U.S. Managed Health Care comprised approximately 9% of the Fund as of June 30, 2022. The Adviser believes that the allocation focuses on the intersection of health care and innovation. U.S. Managed Health Care provides exposure to the four paradigm shifts within Health care identified by our CIO team, including big data, advanced diagnostics, targeted therapies, and enhanced aging.

Allocation to U.S. Industrials was approximately 6% of the Fund as of June 30, 2022. The Adviser believes that the Industrials are cyclical companies that would continue to benefit from economic recovery and growth.

The Adviser believes that companies under U.S. Air, Freight & Logistics sector would continue to benefit from economic recovery and improve free cash flow generation after having underperformed. This allocation comprised approximately 6% of the Fund as of June 30, 2022.

Allocation to U.S. Beverages was approximately 2% of the Fund’s exposure as of June 30, 2022 and reflects the Adviser’s belief that this industry is relatively defensive vs. the market, and the major players of this sector are going through structural changes and thus are set to improve free cash flow conversion.

The Adviser believes that valuations for U.S. Semiconductors & Semiconductor Equipment industries are now more reasonable and provide an attractive entry point. This allocation comprised approximately 2% of the Fund as of June 30, 2022.

Allocation to Life Sciences Tools & Services was approximately 3% of the Fund as of June 30, 2022. The Adviser believes that the sector is comprised of high quality and large cap companies with double digit earnings growth.

Allocation to Data Processing was approximately 5% of the Fund as of June 30, 2022. The Adviser believes that the companies within the sector’s core business have been accelerating, as well as businesses have expanded into new payment flows.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*		1 Year			Since Inception (July 9, 2018)
Six Circles U.S. Unconstrained Equity Fund		(20.12)%		(12.50	)%		10.93	%

*	Not Annualized

GROWTH OF $10,000 REPORT (07/09/2018 TO 06/30/2022)

LOGO

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.26% and 0.05% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

LOGO

¹⁾

Presented percentages may not sum to 100% due to rounding to the nearest percent. Cash and mark-to-market value on derivatives contracts represent less than 0.5%. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles U.S. Unconstrained Equity Fund and the MSCI USA Index from July 9, 2018 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the secu rities included in the Index, if applicable.

The MSCI USA Index is designed to measure the performance of the large and mid-cap segments of the U.S. market. With 626 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in the United States. Investors cannot invest directly in an index.

The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles International Unconstrained Equity Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests

at least 80% of its net assets in equity securities and other instruments with economic characteristics similar to equity

securities. The Fund primarily invests in the equity securities of non-U.S. companies and is generally unconstrained by any particular capitalization, style or sector or non-U.S. country.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period of January 1, 2022 through June 30, 2022 (the “reporting period”), the Fund posted a negative return on an absolute basis, and underperformed the MSCI World ex USA Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Health Care, Consumer Discretionary and Information Technology sectors comprised approximately 48% of the Fund’s sector exposure on a look-through basis at the end of the reporting period, and were the Fund’s largest sector overweights relative to the Index. All three-sector detracted on an absolute basis, while relative to the Index, Health Care contributed and Consumer Discretionary and Information Technology detracted.

Industrials, Financials and Materials sectors comprised approximately 29% of the Fund’s sector exposure on a look-through

basis at the end of the reporting period, and were the Fund’s largest sector underweights relative to the Index. All three sectors detracted from the Fund’s performance on an absolute basis, as well as relative to index.

On an allocation level, there was no allocation that was a contributor to the Fund’s performance on an absolute basis, and the allocation to Europe ex-UK was the largest detractor from the Fund’s return on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to thirteen strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
Europe ex-UK	39	%
Europe Pharmaceuticals	14
Broad UK	8
Europe Financials	8
Europe Autos	5
Europe Semiconductor & Semiconductor Equipment	5
Europe Food Products	5
Europe Industrials	4
Europe Integrated Oil & Gas	3
Europe Textile Luxury Goods	3
Japan Consumer Electronics	3
Korea Technology, Hardware, Storage & Peripherals	2
Europe ex-UK Utilities	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Allocation to Europe ex-UK comprised approximately 39% of the Fund as of June 30, 2022. Within the context of the broader Portfolios, the Adviser believes that this is a defensive position and the exposure to renewable energy helps diversify against European Energy positions and provides a growth dynamic to the sector, while trading at reasonable valuations.

Allocation to Europe Financials was approximately 8% of the Fund as of June 30, 2022. The Adviser has conviction in this sector due to improved capital levels. Financials can directly benefit from higher inflation and rates through higher lending costs and better net interest margin.

Allocation to Europe Pharmaceuticals comprised approximately 14% of the Fund as of June 30, 2022 and provides what the Adviser believes to be a defensive exposure with attractive fundamentals and valuations, within the context of the broader Portfolios.

The Adviser believes that allocation to Europe ex-UK Utilities serves as a defensive position with exposure to renewable energy, which helps diversify against European Energy positions and provides a growth dynamic to the sector. This allocation was approximately 1% of the Fund as of June 30, 2022.

Allocation to Broad UK comprised approximately 8% of the Fund as of June 30, 2022. Within the context of the broader Portfolios, the Adviser believes that the allocation adds to a more cyclical European market that has clarity as COVID-19 subsides.

The Adviser believes that allocation to Europe Automobiles is expected to perform well as the economy recovers. The focus on electric vehicles is likely to be a tailwind. This allocation comprised approximately 5% of the Fund as of June 30, 2022.

Allocation to European Food Products was approximately 5% of the fund as of June 30, 2022 and serves as a defensive position, allowing the Adviser access to a concentrated index of high-quality European companies.

Allocation to Europe Industrials was approximately 4% of the Fund as of June 30, 2022. The Adviser believes that the Industrials sector is built on cyclical exposures that would benefit from economic recovery and growth.

The Adviser believes that the allocation to Japan Consumer Electronics provides exposure to high quality Japanese Equity exposure with evolving business models. The allocation was approximately 3% of the Fund as of June 30, 2022.

The Adviser believes that the allocation to Korea Technology Hardware, Storage and Peripherals provides exposure to a strong player within the global technology supply chain. The allocation was approximately 2% of the Fund as of June 30, 2022.

Allocation to Textile Luxury Goods was approximately 3% of the Fund as of June 30, 2022. The Adviser believes that the sector provides cyclical exposures in Europe that would benefit from economic recovery and growth.

Allocation to Europe Integrated Oil & Gas was approximately 3% of the Fund as of June 30, 2022. The Adviser believes that the sector provides exposure to a cyclical industry that will take advantage of the early cycle environment.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*		1 Year			Since Inception (July 9, 2018)
Six Circles International Unconstrained Equity Fund		(19.37)%		(16.72	)%		(0.88	)%

*	Not Annualized

GROWTH OF $10,000 REPORT (07/09/2018 TO 06/30/2022)

LOGO

¹⁾

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.30% and 0.10% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on July 9, 2018.

The graph illustrates comparative performance for $10,000 invested in the Six Circles International Unconstrained Equity Fund and the MSCI World ex-USA Index from July 9, 2018 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI World ex-USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The MSCI World ex USA Index captures large and mid-cap representation across 22 of 23 Developed Markets (DM) countries—excluding the United States. With 887 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. Investors cannot invest directly in an index.

The MSCI Emerging Markets Index captures large and mid cap representation across 24 Emerging Markets (EM) countries. With 1,380 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

International investing has a greater degree of risk and increased volatility due to political and economic instability of some overseas markets. Changes in currency exchange rates and different accounting and taxation policies outside the U.S. can affect returns.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Global Bond Fund (the “Fund”) seeks to provide total return. The Fund invests mainly in a global portfolio of investment grade fixed income securities with varying maturities across government, corporate, and securitized fixed income sectors. The Fund will also allocate across a number of different countries around the world.

INVESTMENT APPROACH

•

BlackRock Investment Management, LLC (“BlackRock”)

•

Pacific Investment Management Company LLC (“PIMCO”)

•

PGIM, Inc. (“PGIM”)

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2022 through June 30, 2022, (the “reporting period”) the Fund posted a negative return on an absolute basis, but outperformed relative to the Bloomberg Barclays Global- Aggregate Index – Hedged USD (the “Hedged Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for

comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Government Bonds was the largest sector exposure in the Fund on a look-through basis and comprised approximately 49% of the Fund at the end of the reporting period, with the Fund being underweight this sector relative to the Index. Government Bonds detracted from the Fund’s performance on an absolute basis during the reporting period, but contributed relative to the index.

Emerging Market Debt comprised approximately 7% of the Fund’s exposure on a look-through basis at the end of the reporting period, with the Fund being underweight this sector relative to the Index. During the reporting period, exposure to Extended Credit detracted from the Fund’s performance on an absolute basis, but contributed relative to the index.

On the allocation level, the Fund’s allocation to China Treasury & Policy Bank was the largest contributor to the Fund’s return on an absolute basis during the reporting period, while Global Credit was the largest detractor.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to eleven strategies across various sectors, credit ratings, maturity buckets, and regional exposures.


PORTFOLIO ALLOCATION***
Asia Pacific Government ex China (BlackRock)	29	%
China Treasury & Policy Bank (BlackRock)	12
Global Credit (PGIM)	10
Global Securitized (PIMCO)	10
Pan-European Government (BlackRock)	9
U.S. Securitized (BlackRock)	8
Pan-European Credit (BlackRock)	8
U.S. Government (BlackRock)	7
Global Government (PGIM)	5
Pan European Securitized (BlackRock)	1
U.S. Credit (BlackRock)	1

may differ from the adjusted net assets and the total return for financial reporting.

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Allocations to Asia Pacific Government ex-China and Pan-European Government comprised approximately 38% of the Fund as of June 30, 2022 and provide what the Adviser believes is a low tracking error, tactical way to allocate to government bonds within these regions.

Allocation to Global Credit and Pan European Credit comprised approximately 18% of the Fund as of June 30, 2022 and provides what the Adviser believes to be a full tracking error, flexible access point to a broad range of global corporate bonds across different regions, sectors, and credit qualities.

Allocation to Global Securitized and Pan European Securitized comprised approximately 11% of the Fund as of June 30, 2022 and provides what the Adviser believes to be full tracking error, flexible access to a broad range of securitized debt across different regions, sectors, and credit qualities.

The Adviser believes that the allocation to Global Government provides full tracking error access to a broad range of government bonds across different regions. The allocation was approximately 5% of the Fund as of June 30, 2022.

Allocations to U.S. Credit, U.S. Government and U.S. Securitized comprised approximately 16% of the Fund as of June 30, 2022. These allocations provide what the Adviser believes is a low tracking error, tactical way to allocate within these sectors.

Allocations to China Treasury & Policy Bank comprised approximately 12% of the Fund as of June 30, 2022. This exposure allows the portfolio to tactically allocate to Chinese government bonds.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*		1 Year			Since Inception (May 19, 2020)
Six Circles Global Bond Fund		(7.38)%		(7.30	)%		(2.69)%

*	Not Annualized

GROWTH OF $10,000 REPORT (05/19/2020 TO 06/30/2022)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

²⁾	1.95% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Funds derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.30% and 0.11% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on May 19, 2020.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Global Bond Fund and the Bloomberg Barclays Global-Aggregate Index - Hedged USD from May 19, 2020 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Barclays Global-Aggregate Index - Hedged USD does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Tax Aware Bond Fund (the “Fund”) seeks to provide after-tax total return. The Fund invests at least 50% in municipal securities across varying maturity ranges, the income from which is exempt from federal income tax^(a). The Fund also may invest in taxable instruments.

INVESTMENT APPROACH

•

Allspring Global Investments, LLC (“Allspring”)

•

BlackRock Investment Management, LLC (“BlackRock”)^(b)

•

Capital International Inc. (“Capital Group”)

•

Nuveen Asset Management, LLC (“Nuveen”)

^(b)	During the reporting period, the Adviser did not allocate Fund assets to this Sub-Adviser.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2022 through June 30, 2022, (the “reporting period”), the Fund posted a negative return on an absolute basis, and underperformed relative to the Bloomberg Barclays 1-15 Year Municipal Bond Index (the “Index”). Refer-

ences to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, Municipal Bonds were the largest sector exposure in the Fund on a look-through basis and comprised approximately 93% of the Fund at the end of the reporting period. This sector detracted from the Fund’s performance on an absolute basis as well as relative to benchmark during the reporting period.

High Yield Municipal Bonds were approximately 1% of the Fund’s exposure on a look-through basis at the end of the reporting period, with the Fund being underweight this sector relative to the Index. During the reporting period, exposure to High Yield Municipal Bonds detracted from the Fund’s performance on an absolute basis, while contributing relative to the index.

On the allocation level, the full tracking error Municipal allocations managed by Nuveen was the largest detractor on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to five strategies across various sectors, credit ratings, maturity buckets, and regional exposures.


PORTFOLIO ALLOCATION***
Municipals (Allspring)	38	%
Municipals (Nuveen)	38
Short Duration Municipal (Capital Group)	11
Intermediate Duration Municipal (Capital Group)	7
Long Duration Municipal (Capital Group)	6

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

^(a)

Interest on Municipal securities is exempt from federal income tax however interest on certain bonds may be subject to the federal alternative minimum tax for individuals.

Allocations to Short Duration Municipal, Intermediate Duration Municipal and Long Duration Municipal comprised approximately 11%, 7% and 6% of the Fund, respectively, as of June 30, 2022. These allocations provide what the Adviser believes to be low tracking error, flexible access points to municipal debt within short and intermediate maturity ranges.

The Adviser believes that the allocations to Municipal strategies sub-advised by Nuveen and Allspring provide full tracking error, flexible access to a broad range of municipals across different sectors and credit qualities. Each of these allocations were approximately 38% of the Fund as of June 30, 2022.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*			1 Year			Since Inception (May 19, 2020)
Six Circles Tax Aware Bond Fund		(7.79	)%		(7.56	)%		(1.01	)%

*	Not Annualized

GROWTH OF $10,000 REPORT (05/19/2020 TO 06/30/2022)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global

Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.28% and 0.13% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on May 19, 2020.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Tax Aware Bond Fund and the Bloomberg Barclays 1-15 Year Municipal Bond Index from May 19, 2020 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Barclays 1-15 Year Municipal Bond Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The Bloomberg Barclays 1-15 Year Municipal Bond Index consists of a broad selection of investment grade general obligation and revenue bonds of maturities ranging from one year to 17 years. Investors cannot invest directly in an index.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Credit Opportunities Fund (the “Fund”) seeks to provide total return. The Fund invests mainly in global fixed income opportunities, including below investment-grade debt, as well as other tactical credit opportunities.

INVESTMENT APPROACH

The Adviser currently engages the following Sub-Advisers:

•

BlackRock Investment Management, LLC (“BlackRock”)

•

BlueBay Asset Management LLP (“BlueBay”)^(a)

•

Federated Investment Management Company (“Federated”)^(b)

•

Lord Abbett & Co, LLC (“Lord Abbett”)

•

Muzinich & Co., Inc. (“Muzinich”)^(a)

•

Pacific Investment Management Company LLC (“PIMCO”)

•

PGIM, INC. (“PGIM”)

^(a)	During the reporting period, the Fund has not allocated assets to these Sub-Advisers

^(b)	During the reporting period, the he Adviser has reduced the portion of the Fund allocated to Federated to zero

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2022 through June 30, 2022, (the “reporting period”) the Fund posted a negative return on an absolute basis, and underperformed relative to the Bloomberg Barclays U.S. Intermediate Corporate Bond Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

By sector composition, High Yield was the largest sector exposure in the Fund on a look-through basis and comprised approximately 65% of the Fund at the end of the reporting period. During the reporting period, this sector detracted from the Fund’s performance on an absolute basis and relative to the Index.

Investment Grade Corporate Bonds was the largest sector underweight, with approximately 4% of the Fund’s exposure on a look-through basis at the end of the reporting period. During the reporting period, exposure to Investment Grade Corporate Bonds detracted from the Fund’s performance on an absolute basis but contributed relative to the index.

On an allocation level, High Yield allocations managed by BlackRock and PGIM were the largest detractors on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to four Sub-Advisers across various sectors, credit ratings, maturity buckets, and regional exposures.


PORTFOLIO ALLOCATION***
High Yield (BlackRock)	34	%
High Yield (PGIM)	34
Asia High Yield (PIMCO)	25
Short Duration (Lord Abbett)	7

may differ from the adjusted net assets and the total return for financial reporting.

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Allocations to High Yield managed by BlackRock comprised approximately 34% of the Fund as of June 30, 2022. The Adviser believes that the allocation provides flexibility in the portfolio construction process for adjusting credit quality and sector allocations in response to market movements.

Allocations to High Yield managed by PGIM comprised approximately 34% of the Fund as of June 30, 2022. This allocation provides what the Adviser believes to be a broader market exposure without large sector or credit rating bets.

Allocations to Short Duration managed by Lord Abbett comprised approximately 7% of the Fund as of June 30, 2022. The adviser believes that this allocation provides a higher quality, shorter duration exposure and consists of investment grade and securitized bonds.

The allocation to Asia High Yield managed by PIMCO comprised approximately 25% of the Fund as of June 30, 2022 and provides what the Adviser believes to be a more focused exposure to Asian Corporates issuing USD denominated bonds.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*			1 Year			Since Inception (August 19, 2020)
Six Circles Credit Opportunities Fund		(13.00	)%		(11.96	)%		(3.44	)%

*	Not Annualized

GROWTH OF $10,000 REPORT (08/19/2020 TO 06/30/2022)

LOGO

¹⁾	Presented percentages may not sum to 100% due to rounding to the nearest percent. The above Sector allocation uses The Global Industry Classification Standard (GICS^®) and may differ from categories listed within the Schedule of Investments.

²⁾	0.15% of the amount shown in the Fund’s “Cash” line item reflects the mark-to-market value of the Fund’s derivative positions.

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.81% and 0.25% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on August 19, 2020.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Credit Opportunities Fund and the Bloomberg Barclays U.S. Intermediate Corporate Bond Index from August 19, 2020 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Barclays U.S. Intermediate Corporate Bond Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

The Bloomberg Barclays U.S. Intermediate Corporate Total Return Bond Index measures the investment grade, fixed-rate, taxable corporate bond market whose maturity ranges between 1 to 9.9999 years. It includes USD denominated securities publicly issued by U.S. and non-U.S. industrial, utility and financial issuers. Investors cannot invest directly in an index.


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — 14.1%
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,200		1,199
Anchorage Capital CLO Ltd., (Cayman Islands),
Series 2014-3RA, Class A, (ICE LIBOR USD 3 Month + 1.05%), 2.29%, 01/28/2031 (e) (aa)		1,247		1,223
Series 2015-7A, Class AR2, (ICE LIBOR USD 3 Month + 1.09%), 2.33%, 01/28/2031 (e) (aa)		1,577		1,554
Atlas Senior Loan Fund III Ltd., (Cayman Islands), Series 2013-1A, Class AR, (ICE LIBOR USD 3 Month + 0.83%), 2.27%, 11/17/2027 (e) (aa)		226		224
Atrium XII, (Cayman Islands), Series 12A, Class AR, (ICE LIBOR USD 3 Month + 0.83%), 1.97%, 04/22/2027 (e) (aa)		847		833
Autoflorence Srl, (Italy),
Series 2, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 0.19%, 12/24/2044 (aa)	EUR	777		810
Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 0.24%, 12/24/2044 (aa)	EUR	161		167
BA Credit Card Trust, Series 2021-A1, Class A1, 0.44%, 09/15/2026		2,180		2,071
Barings CLO Ltd., (Cayman Islands), Series 2019-3A, Class A1R, (ICE LIBOR USD 3 Month + 1.07%), 2.13%, 04/20/2031 (e) (aa)		250		244
Battalion CLO 18 Ltd., (Cayman Islands), Series 2020-18A, Class AR, (ICE LIBOR USD 3 Month + 1.20%), 2.24%, 10/15/2036 (e) (aa)		1,000		969
Benefit Street Partners CLO Ltd., (Cayman Islands), Series 2015-6BR, Class A, (ICE LIBOR USD 3 Month + 1.19%), 2.25%, 07/20/2034 (e) (aa)		1,000		969
Benefit Street Partners CLO VIII Ltd., (Cayman Islands), Series 2015-8A, Class A1AR, (ICE LIBOR USD 3 Month + 1.10%), 2.16%, 01/20/2031 (e) (aa)		1,000		983
BHG Securitization Trust, Series 2022-B, Class A, 3.75%, 06/18/2035 (e)		142		141
Birch Grove CLO Ltd., (Cayman Islands), Series 19A, Class AR, (ICE LIBOR USD 3 Month + 1.13%), 2.96%, 06/15/2031 (e) (aa)		2,000		1,961
BMW Canada Auto Trust, (Canada), Series 2022-1A, Class A1, 3.65%, 12/20/2024 (e)	CAD	1,000		776
BSPRT Issuer Ltd., (Cayman Islands), Series 2021-FL7, Class A, (ICE LIBOR USD 1 Month + 1.32%), 2.64%, 12/15/2038 (e) (aa)		360		347


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Burnham Park CLO Ltd., (Cayman Islands), Series 2016-1A, Class AR, (ICE LIBOR USD 3 Month + 1.15%), 2.21%, 10/20/2029 (e) (aa)		491		487
CarMax Auto Owner Trust,
Series 2021-2, Class A3, 0.52%, 02/17/2026		1,060		1,029
Series 2022-2, Class A2B, (United States 30 Day Average SOFR + 0.60%), 1.38%, 05/15/2025 (aa)		1,046		1,044
Chesapeake Funding II LLC,
Series 2019-1A, Class A1, 2.94%, 04/15/2031 (e)		135		135
Series 2020-1A, Class A2, (ICE LIBOR USD 1 Month + 0.65%), 1.97%, 08/15/2032 (e) (aa)		515		513
CIFC Funding Ltd., (Cayman Islands), Series 2014-5A, Class A1R2, (ICE LIBOR USD 3 Month + 1.20%), 2.24%, 10/17/2031 (e) (aa)		1,000		981
CIT Mortgage Loan Trust, Series 2007-1, Class 1A, (ICE LIBOR USD 1 Month + 1.35%), 2.97%, 10/25/2037 (e) (aa)		185		184
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.00%, 05/15/2030 (e)		350		333
DLLST LLC, Series 2022-1A, Class A1, 1.56%, 05/22/2023 (e)		755		752
Dowson plc, (United Kingdom),
Series 2021-2, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.68%), 1.62%, 10/20/2028 (aa)	GBP	474		575
Series 2021-2, Class B, Reg. S, (SONIA Interest Rate Benchmark + 1.20%), 2.14%, 10/20/2028 (aa)	GBP	200		240
Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.92%), 1.86%, 01/20/2029 (aa)	GBP	377		458
Dryden 49 Senior Loan Fund, (Cayman Islands), Series 2017-49A, Class AR, (ICE LIBOR USD 3 Month + 0.95%), 1.99%, 07/18/2030 (e) (aa)		1,500		1,475
DT Auto Owner Trust, Series 2020-3A, Class A, 0.54%, 04/15/2024 (e)		12		12
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e)		891		809
Enterprise Fleet Financing LLC, Series 2019-3, Class A2, 2.06%, 05/20/2025 (e)		284		283
FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.27%, 10/19/2037 (e)		794		733
Ford Auto Securitization Trust, (Canada),
Series 2019-BA, Class A2, 2.32%, 10/15/2023 (e)	CAD	23		18
Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e)	CAD	1,300		981


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — continued
Ford Credit Auto Lease Trust, Series 2022-A, Class A2B, (United States 30 Day Average SOFR + 0.60%), 1.38%, 10/15/2024 (aa)		714		713
Ford Credit Auto Owner Trust,
Series 2019-B, Class A4, 2.24%, 10/15/2024		320		319
Series 2022-B, Class A2A, 3.44%, 02/15/2025		2,633		2,633
Ford Credit Floorplan Master Owner Trust A,
Series 2019-3, Class A2, (ICE LIBOR USD 1 Month + 0.60%), 1.92%, 09/15/2024 (aa)		2,480		2,481
Series 2020-1, Class A1, 0.70%, 09/15/2025		1,400		1,351
FS Rialto Issuer LLC, Series 2022-FL4, Class A, (United States 30 Day Average SOFR + 1.90%), 2.69%, 01/19/2039 (e) (aa)		583		563
Gilbert Park CLO Ltd., (Cayman Islands), Series 2017-1A, Class A, (ICE LIBOR USD 3 Month + 1.19%), 2.23%, 10/15/2030 (e) (aa)		1,650		1,622
GM Financial Automobile Leasing Trust, Series 2022-2, Class A2, 2.93%, 10/21/2024		2,170		2,157
GM Financial Consumer Automobile Receivables Trust,
Series 2019-3, Class A4, 2.21%, 11/18/2024		175		174
Series 2020-1, Class A3, 1.84%, 09/16/2024		405		404
GMF Canada Leasing Trust, (Canada), Series 2021-1A, Class A2, 0.64%, 03/20/2024 (e)	CAD	570		440
Hertz Vehicle Financing III LLC, Series 2022-3A, Class A, 3.37%, 03/25/2025 (e)		100		98
Honda Auto Receivables Owner Trust, Series 2019-3, Class A4, 1.85%, 08/15/2025		245		244
Hyundai Auto Receivables Trust, Series 2022-A, Class A2B, (United States 30 Day Average SOFR + 0.63%), 1.41%, 02/18/2025 (e) (aa)		3,760		3,760
ICG US CLO Ltd., (Cayman Islands), Series 2015-1A, Class A1R, (ICE LIBOR USD 3 Month + 1.14%), 2.18%, 10/19/2028 (e) (aa)		776		765
KREF Ltd., (Cayman Islands), Series 2022-FL3, Class A, (CME Term SOFR 1 Month + 1.45%), 2.96%, 02/17/2039 (e) (aa)		1,310		1,266
Madison Park Funding XXXIII Ltd., (Cayman Islands), Series 2019-33A, Class AR, (CME Term SOFR 3 Month + 1.29%), 2.14%, 10/15/2032 (e) (aa)		250		244
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e)		1,500		1,421


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Navient Private Education Loan Trust, Series 2017-A, Class A2B, (ICE LIBOR USD 1 Month + 0.90%), 2.22%, 12/16/2058 (e) (aa)		275		274
Nelnet Student Loan Trust,
Series 2019-2A, Class A, (ICE LIBOR USD 1 Month + 0.90%), 2.52%, 06/27/2067 (e) (aa)		959		949
Series 2021-CA, Class AFL, (ICE LIBOR USD 1 Month + 0.74%), 2.34%, 04/20/2062 (e) (aa)		585		571
Neuberger Berman Loan Advisers CLO 26 Ltd., (Cayman Islands), Series 2017-26A, Class AR, (ICE LIBOR USD 3 Month + 0.92%), 1.96%, 10/18/2030 (e) (aa)		1,900		1,866
Nissan Auto Lease Trust, Series 2022-A, Class A2A, 3.45%, 08/15/2024		3,880		3,878
OHA Credit Funding 6 Ltd., (Cayman Islands), Series 2020-6A, Class AR, (ICE LIBOR USD 3 Month + 1.14%), 2.20%, 07/20/2034 (e) (aa)		1,000		967
OneMain Direct Auto Receivables Trust, Series 2022-1A, Class A2, (United States 30 Day Average SOFR + 1.60%), 0.00%, 03/14/2029 (e) (aa)		835		831
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e)		300		296
Oscar US Funding XII LLC, (Japan), Series 2021-1A, Class A2, 0.40%, 03/11/2024 (e)		566		563
Oscar US Funding XIII LLC, Series 2021-2A, Class A2, 0.39%, 08/12/2024 (e)		519		513
OZLM XII Ltd., (Cayman Islands), Series 2015-12A, Class A1R, (ICE LIBOR USD 3 Month + 1.05%), 2.34%, 04/30/2027 (e) (aa)		13		13
Palmer Square CLO Ltd., (Cayman Islands), Series 2013-2A, Class A1A3, (ICE LIBOR USD 3 Month + 1.00%), 2.04%, 10/17/2031 (e) (aa)		250		244
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (ICE LIBOR USD 1 Month + 0.80%), 2.42%, 07/25/2035 (aa)		745		737
Pawneee Equipment Receivables Series LLC, Series 2021-1, Class A2, 1.10%, 07/15/2027 (e)		1,000		959
PCL Funding VI plc, (United Kingdom), Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.40%), 0.00%, 07/15/2026 (w) (aa) (bb)	GBP	723		880
PRET LLC,
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e)		734		660


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — continued
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e)		574		537
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e)		274		257
Prodigy Finance DAC, (Ireland), Series 2021-1A, Class A, (ICE LIBOR USD 1 Month + 1.25%), 2.87%, 07/25/2051 (e) (aa)		150		148
Red & Black Auto Germany, (Germany), Series 8, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 0.21%, 09/15/2030 (aa)	EUR	200		205
Red & Black Auto Italy Srl, (Italy), Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 0.15%, 12/28/2031 (aa)	EUR	1,371		1,432
Rockford Tower CLO Ltd., (Cayman Islands), Series 2017-3A, Class A, (ICE LIBOR USD 3 Month + 1.19%), 2.25%, 10/20/2030 (e) (aa)		250		245
RR 3 Ltd., (Cayman Islands), Series 2018-3A, Class A1R2, (ICE LIBOR USD 3 Month + 1.09%), 2.13%, 01/15/2030 (e) (aa)		1,000		984
Santander Drive Auto Receivables Trust, Series 2022-2, Class A2, 2.12%, 10/15/2026		1,500		1,490
SC Germany SA Compartment Consumer, (Luxembourg), Series 2020-1, Class C, Reg. S, (ICE LIBOR EUR 1 Month + 1.75%), 1.35%, 11/14/2034 (aa)	EUR	358		372
SLM Student Loan Trust, Series 2004-10, Class A7B, (ICE LIBOR USD 3 Month + 0.60%), 1.78%, 10/25/2029 (e) (aa)		1,093		1,085
SMB Private Education Loan Trust,
Series 2016-B, Class A2B, (ICE LIBOR USD 1 Month + 1.45%), 2.77%, 02/17/2032 (e) (aa)		717		715
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e)		507		492
Series 2017-A, Class A2B, (ICE LIBOR USD 1 Month + 0.90%), 2.22%, 09/15/2034 (e) (aa)		1,060		1,055
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e)		514		468
Series 2021-A, Class A2A1, (ICE LIBOR USD 1 Month + 0.73%), 2.05%, 01/15/2053 (e) (aa)		2,345		2,279
Series 2021-C, Class A1, (ICE LIBOR USD 1 Month + 0.40%), 1.72%, 01/15/2053 (e) (aa)		142		142
Series 2022-B, Class A1B, (United States 30 Day Average SOFR + 1.45%), 1.83%, 02/16/2055 (e) (aa)		1,125		1,119
SoFi Professional Loan Program LLC, Series 2016-C, Class A2B, 2.36%, 12/27/2032 (e)		57		56


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Symphony CLO XXIV Ltd., (Cayman Islands), Series 2020-24A, Class A, (ICE LIBOR USD 3 Month + 1.20%), 2.38%, 01/23/2032 (e) (aa)		700		684
TCI-Symphony CLO Ltd., (Cayman Islands), Series 2016-1A, Class AR2, (ICE LIBOR USD 3 Month + 1.02%), 2.04%, 10/13/2032 (e) (aa)		265		259
Towd Point Asset Trust, Series 2021-SL1, Class A2, (ICE LIBOR USD 1 Month + 0.70%), 2.31%, 11/20/2061 (e) (aa)		231		227
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e)		1,500		1,396
Venture XVIII CLO Ltd., (Cayman Islands), Series 2014-18A, Class AR, (ICE LIBOR USD 3 Month + 1.22%), 2.26%, 10/15/2029 (e) (aa)		2,065		2,046
Verizon Owner Trust, Series 2020-A, Class A1B, (ICE LIBOR USD 1 Month + 0.27%), 1.88%, 07/22/2024 (aa)		283		283
Volkswagen Auto Lease Trust, Series 2022-A, Class A2, 3.02%, 10/21/2024		3,014		3,001
Voya CLO Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (ICE LIBOR USD 3 Month + 1.15%), 2.19%, 10/15/2031 (e) (aa)		1,150		1,128
VOYA CLO, (Cayman Islands), Series 2017-2A, Class A1R, (ICE LIBOR USD 3 Month + 0.98%), 2.02%, 06/07/2030 (e) (aa)		270		266
Westlake Automobile Receivables Trust, Series 2021-3A, Class A3, 0.95%, 06/16/2025 (e)		1,460		1,415
Wind River CLO Ltd., (Cayman Islands), Series 2013-1A, Class A1RR, (ICE LIBOR USD 3 Month + 0.98%), 2.04%, 07/20/2030 (e) (aa)		250		246

Total Asset-Backed Securities (Cost $86,490)				84,401

Certificates of Deposit — 3.0%

Financial — 3.0%

Banks — 3.0%
Canadian Imperial Bank of Commerce, (Canada), 1.35%, 02/13/2023		3,000		2,965
Credit Suisse AG, (Switzerland), 0.50%, 10/28/2022		1,400		1,391
(SOFR Compounded Index + 0.43%), 1.94%, 10/28/2022 (aa)		4,500		4,502
Goldman Sachs Bank USA, (United States SOFR + 0.24%), 1.46%, 02/13/2023 (aa)		2,000		1,997
MUFG Bank Ltd., (Japan),
(United States SOFR + 0.30%), 1.81%, 03/10/2023 (aa)		3,000		2,995


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Certificates of Deposit — continued

Banks — continued
(United States SOFR + 0.30%), 1.81%, 03/13/2023 (aa)		3,000		2,995
Standard Chartered Bank, (United Kingdom), (United States SOFR + 0.42%), 1.93%, 07/28/2023 (aa)		1,300		1,297

Total Financial				18,142

Total Certificates of Deposit (Cost $18,200)				18,142

Collateralized Mortgage Obligations — 3.8%
Brass NO 8 plc, (United Kingdom), Series 8A, Class A1, (ICE LIBOR USD 3 Month + 0.70%), 2.11%, 11/16/2066 (e) (aa)		71		71
Canterbury Finance NO 1 plc, (United Kingdom), Series 1, Class A2, Reg. S, (SONIA Interest Rate Benchmark + 1.35%), 1.95%, 05/16/2056 (aa)	GBP	746		908
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 1.53%, 08/20/2045 (aa)	GBP	522		631
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z)		338		318
Dutch Property Finance BV, (Netherlands), Series 2022-1, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.32%, 10/28/2059 (aa)	EUR	862		892
Finsbury Square plc, (United Kingdom),
Series 2019-3, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.01%), 1.77%, 12/16/2069 (aa)	GBP	115		139
Series 2020-2A, Class A, (SONIA Interest Rate Benchmark + 1.30%), 2.06%, 06/16/2070 (e) (aa)	GBP	281		342
FNMA REMICS,
Series 2020-29, Class FC, (ICE LIBOR USD 1 Month + 0.80%), 1.60%, 05/25/2050 (aa)		1,737		1,751
Series 2022-8, Class D, 2.00%, 08/25/2038		1,644		1,567
GCAT LLC, Series 2020-3, Class A1, SUB, 2.98%, 09/25/2025 (e)		677		665
GNMA,
Series 2015-H04, Class FA, (ICE LIBOR USD 1 Month + 0.65%), 1.45%, 12/20/2064 (aa)		1,264		1,252
Series 2017-121, Class PE, 3.00%, 07/20/2046		194		191
Series 2018-H18, Class FC, (ICE LIBOR USD 1 Month + 0.35%), 1.15%, 08/20/2065 (aa)		1,643		1,629
Series 2019-54, Class KF, (ICE LIBOR USD 1 Month + 0.42%), 1.48%, 05/20/2044 (aa)		414		411


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 2.27%, 06/20/2071 (aa)		1,506		1,560
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 1.07%, 01/20/2052 (aa)		982		918
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 1.12%, 01/20/2072 (aa)		686		666
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z)		358		340
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e)		1,311		1,206
London Wall Mortgage Capital plc, (United Kingdom), Series 2017-FL1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.97%), 1.57%, 11/15/2049 (aa)	GBP	23		28
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z)		418		386
New Residential Mortgage Loan Trust,
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z)		128		128
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z)		342		324
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z)		706		680
Resimac Bastille Trust Series, (Australia), Series 2021-2NCA, Class A1A, (ICE LIBOR USD 1 Month + 0.65%), 1.45%, 02/03/2053 (e) (aa)		404		401
Sage AR Funding No 1 plc, (United Kingdom), Series 1A, Class A, (SONIA Interest Rate Benchmark + 1.25%), 1.86%, 11/17/2030 (e) (aa)	GBP	800		956
Silverstone Master Issuer plc, (United Kingdom),
Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 0.51%, 01/21/2070 (e) (aa)		700		695
Series 2022-1X, Class 2A, Reg. S, (SONIA Interest Rate Benchmark + 0.29%), 0.79%, 01/21/2070 (aa)	GBP	550		659
Starwood Mortgage Residential Trust,
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z)		257		250
Series 2020-INV1, Class A1, 1.03%, 11/25/2055 (e) (z)		152		148
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z)		353		336
Stratton Mortgage Funding, (United Kingdom), Series 2021-2A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 1.36%, 07/20/2060 (e) (aa)	GBP	161		195
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 0.90%), 1.36%, 07/20/2045 (e) (aa)	GBP	674		820


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Collateralized Mortgage Obligations — continued
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (ICE LIBOR USD 1 Month + 1.00%), 2.62%, 05/25/2058 (e) (aa)		369		364
Vita Scientia DAC, (Ireland), Series 2022-1X, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 1.30%), 1.30%, 02/27/2033 (aa)	EUR	1,000		1,025

Total Collateralized Mortgage Obligations (Cost $23,910)				22,852

Commercial Mortgage-Backed Securities — 5.7%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (ICE LIBOR USD 1 Month + 0.88%), 2.07%, 09/15/2034 (e) (aa)		500		490
AREIT Trust, Series 2019-CRE3, Class A, (CME Term SOFR 1 Month + 1.38%), 2.72%, 09/14/2036 (e) (aa)		106		105
AREIT Trust, (Cayman Islands),
Series 2021-CRE5, Class A, (ICE LIBOR USD 1 Month + 1.08%), 2.60%, 11/17/2038 (e) (aa)		662		639
Series 2022-CRE6, Class A, (United States 30 Day Average SOFR + 1.25%), 2.02%, 01/16/2037 (e) (aa)		1,000		960
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (ICE LIBOR USD 1 Month + 1.00%), 2.33%, 06/15/2035 (e) (aa)		500		484
BAMLL Commercial Mortgage Securities Trust, Series 2019-RLJ, Class A, (ICE LIBOR USD 1 Month + 1.05%), 2.37%, 04/15/2036 (e) (aa)		400		392
BWAY Mortgage Trust, Series 2021-1450, Class A, (ICE LIBOR USD 1 Month + 1.25%), 2.57%, 09/15/2036 (e) (aa)		500		480
BX Commercial Mortgage Trust,
Series 2021-XL2, Class A, (ICE LIBOR USD 1 Month + 0.69%), 2.01%, 10/15/2038 (e) (aa)		723		689
Series 2022-LP2, Class A, (CME Term SOFR 1 Month + 1.01%), 2.35%, 02/15/2039 (e) (aa)		934		896
BX Trust, Series 2022-IND, Class A, (CME Term SOFR 1 Month + 1.49%), 2.82%, 04/15/2037 (e) (aa)		950		925
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class A, (ICE LIBOR USD 1 Month + 1.07%), 2.39%, 12/15/2037 (e) (aa)		765		751
CEDR Commercial Mortgage Trust, Series 2022-SNAI, Class A, (CME Term SOFR 1 Month + 0.99%), 2.27%, 02/15/2039 (e) (aa)		530		505
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058		919		908


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Citigroup Commercial Mortgage Trust,
Series 2013-GC15, Class A4, 4.37%, 09/10/2046 (z)		1,000		999
Series 2021-KEYS, Class A, (ICE LIBOR USD 1 Month + 1.18%), 2.50%, 10/15/2036 (e) (aa)		900		889
Cold Storage Trust, Series 2020-ICE5, Class A, (ICE LIBOR USD 1 Month + 0.90%), 2.22%, 11/15/2037 (e) (aa)		870		848
COMM, Series 2013-GAM, Class A2, 3.37%, 02/10/2028 (e)		1,235		1,217
COMM Mortgage Trust,
Series 2013-CR8, Class A5, 3.61%, 06/10/2046 (z)		418		416
Series 2013-CR11, Class A4, 4.26%, 08/10/2050		750		752
Series 2014-UBS2, Class ASB, 3.47%, 03/10/2047		657		654
Series 2014-UBS3, Class A4, 3.82%, 06/10/2047		1,600		1,589
Series 2015-CR23, Class A2, 2.85%, 05/10/2048		428		427
Series 2015-LC19, Class ASB, 3.04%, 02/10/2048		283		281
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class A, (ICE LIBOR USD 1 Month + 0.98%), 2.30%, 05/15/2036 (e) (aa)		590		580
CSMC, Series 2021-BHAR, Class A, (ICE LIBOR USD 1 Month + 1.15%), 2.48%, 11/15/2038 (e) (aa)		974		942
DBGS Mortgage Trust, Series 2018-BIOD, Class A, (ICE LIBOR USD 1 Month + 0.80%), 1.99%, 05/15/2035 (e) (aa)		1,188		1,171
GS Mortgage Securities Corp. Trust, Series 2021-STAR, Class A, (ICE LIBOR USD 1 Month + 0.95%), 2.27%, 12/15/2036 (e) (aa)		690		663
GS Mortgage Securities Trust,
Series 2012-GCJ9, Class A3, 2.77%, 11/10/2045		716		714
Series 2013-GC16, Class A4, 4.27%, 11/10/2046		1,000		998
J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2018-AON, Class A, 4.13%, 07/05/2031 (e)		1,000		984
Life Mortgage Trust, Series 2021-BMR, Class A, (ICE LIBOR USD 1 Month + 0.70%), 2.02%, 03/15/2038 (e) (aa)		295		285
MF1X,
Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 2.35%, 12/15/2034 (e) (aa)		1,130		1,129
Series 2021-W10, Class B, (CME Term SOFR 1 Month + 1.37%), 2.65%, 12/15/2034 (e) (aa)		120		120


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Commercial Mortgage-Backed Securities — continued
MHC Commercial Mortgage Trust, Series 2021-MHC, Class A, (ICE LIBOR USD 1 Month + 0.80%), 2.12%, 04/15/2038 (e) (aa)		1,135		1,106
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2013-C10, Class ASB, 3.91%, 07/15/2046 (z)		60		60
Series 2013-C11, Class AAB, 3.85%, 08/15/2046		256		255
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (ICE LIBOR USD 1 Month + 1.00%), 2.32%, 05/15/2036 (e) (aa)		700		673
MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, (CME Term SOFR 1 Month + 1.40%), 2.68%, 03/15/2039 (e) (aa)		1,100		1,080
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 3.10%, 03/15/2035 (e) (aa)		900		880
SREIT Trust, Series 2021-IND, Class A, (ICE LIBOR USD 1 Month + 0.70%), 2.02%, 10/15/2038 (e) (aa)		900		855
TPGI Trust, Series 2021-DGWD, Class A, (ICE LIBOR USD 1 Month + 0.70%), 2.02%, 06/15/2026 (e) (aa)		1,360		1,299
Wells Fargo Commercial Mortgage Trust,
Series 2013-LC12, Class A3FL, (ICE LIBOR USD 1 Month + 1.05%), 2.57%, 07/15/2046 (e) (aa)		728		728
Series 2015-NXS2, Class A2, 3.02%, 07/15/2058		347		341
Series 2016-NXS5, Class A2, 2.71%, 01/15/2059		7		7
WFRBS Commercial Mortgage Trust,
Series 2012-C9, Class A3, 2.87%, 11/15/2045		926		924
Series 2013-C11, Class A5, 3.07%, 03/15/2045		876		872
Series 2013-C12, Class ASB, 2.84%, 03/15/2048		265		264
Series 2013-C18, Class A5, 4.16%, 12/15/2046 (z)		1,250		1,246

Total Commercial Mortgage-Backed Securities (Cost $35,677)				34,472

Corporate Bonds — 55.1%

Basic Materials — 1.0%

Chemicals — 1.0%
DuPont de Nemours, Inc.,
(ICE LIBOR USD 3 Month + 1.11%), 2.52%, 11/15/2023 (aa)		1,500		1,507
4.21%, 11/15/2023		2,000		2,013


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Chemicals — continued
International Flavors & Fragrances, Inc., 0.70%, 09/15/2022 (e)		2,400		2,389

Total Basic Materials				5,909

Communications — 4.1%
Internet — 0.1%
SK Broadband Co. Ltd., (South Korea), Reg. S, 3.88%, 08/13/2023		400		401

Media — 0.9%
Charter Communications Operating LLC / Charter Communications Operating Capital, (ICE LIBOR USD 3 Month + 1.65%), 2.94%, 02/01/2024 (aa)		4,000		4,031
Discovery Communications LLC, 2.95%, 03/20/2023		1,500		1,490


				5,521

Telecommunications — 3.1%
AT&T, Inc.,
(SOFR Compounded Index + 0.64%), 2.15%, 03/25/2024 (aa)		3,750		3,715
(ICE LIBOR USD 3 Month + 1.18%), 2.90%, 06/12/2024 (aa)		4,000		4,012
Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 3.11%, 09/19/2023 (aa)	AUD	720		499
SES SA, (Luxembourg), 3.60%, 04/04/2023 (e)		1,300		1,282
SK Telecom Co. Ltd., (South Korea), Reg. S, 3.75%, 04/16/2023		400		401
Verizon Communications, Inc.,
(SOFR Compounded Index + 0.50%), 2.01%, 03/22/2024 (aa)		5,000		4,939
Reg. S, (BBSW ASX Australian 3 Month + 1.22%), 2.24%, 02/17/2023 (aa)	AUD	2,400		1,659
(ICE LIBOR USD 3 Month + 1.10%), 2.51%, 05/15/2025 (aa)		200		199
Vodafone Group plc, (United Kingdom), Reg. S, (BBSW ASX Australian 3 Month + 1.05%), 2.67%, 12/13/2022 (aa)	AUD	2,580		1,783


				18,489

Total Communications				24,411

Consumer Cyclical — 8.0%

Auto Manufacturers — 7.4%
BMW Finance NV, (Netherlands), 2.25%, 08/12/2022 (e)		1,100		1,100
BMW US Capital LLC,
(SOFR Compounded Index + 0.38%), 1.59%, 08/12/2024 (e) (aa)		2,130		2,101
(SOFR Compounded Index + 0.84%), 2.35%, 04/01/2025 (e) (aa)		1,100		1,090
Daimler Finance North America LLC,
1.75%, 03/10/2023 (e)		1,800		1,778
2.55%, 08/15/2022 (e)		3,250		3,251


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued

Auto Manufacturers — continued
General Motors Financial Co., Inc.,
1.05%, 03/08/2024		1,350		1,281
(United States SOFR + 0.76%), 2.18%, 03/08/2024 (aa)		1,000		971
3.25%, 01/05/2023		700		699
3.55%, 07/08/2022		4,750		4,750
3.70%, 05/09/2023		1,200		1,200
4.15%, 06/19/2023		500		500
Hyundai Capital America,
0.80%, 04/03/2023 (e)		2,790		2,723
1.00%, 09/17/2024 (e)		725		673
Reg. S, 4.13%, 06/08/2023		300		300
Nissan Motor Acceptance Co. LLC,
1.05%, 03/08/2024 (e)		1,170		1,098
(ICE LIBOR USD 3 Month + 0.65%), 1.67%, 07/13/2022 (e) (aa)		600		600
(ICE LIBOR USD 3 Month + 0.64%), 2.31%, 03/08/2024 (e) (aa)		3,375		3,292
(ICE LIBOR USD 3 Month + 0.69%), 2.92%, 09/28/2022 (e) (aa)		1,800		1,794
3.88%, 09/21/2023 (e)		1,000		994
Stellantis NV, (Netherlands), 5.25%, 04/15/2023		2,000		2,014
Toyota Motor Credit Corp., (SOFR Compounded Index + 0.65%), 2.16%, 12/29/2023 (aa)		2,100		2,100
Volkswagen Group of America Finance LLC, 0.75%, 11/23/2022 (e)		6,000		5,952
0.88%, 11/22/2023 (e)		1,800		1,725
2.70%, 09/26/2022 (e)		200		200
4.25%, 11/13/2023 (e)		2,090		2,091


				44,277

Home Builders — 0.1%
Lennar Corp., 4.50%, 04/30/2024		500		499

Retail — 0.5%
7-Eleven, Inc.,
0.63%, 02/10/2023 (e)		1,700		1,667
0.80%, 02/10/2024 (e)		1,400		1,328

				2,995

Total Consumer Cyclical				47,771

Consumer Non-cyclical — 6.9%
Agriculture — 0.6%
BAT Capital Corp.,
(ICE LIBOR USD 3 Month + 0.88%), 2.29%, 08/15/2022 (aa)		3,200		3,198
2.76%, 08/15/2022		271		270


				3,468

Beverages — 0.1%
JDE Peet’s NV, (Netherlands), 0.80%, 09/24/2024 (e)		400		372

Biotechnology — 0.4%
Gilead Sciences, Inc., 0.75%, 09/29/2023		2,625		2,541


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Commercial Services — 0.1%
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 3.79%, 12/16/2024 (aa)	AUD	700		494

Food — 1.0%
General Mills, Inc.,
(ICE LIBOR USD 3 Month + 1.01%), 2.05%, 10/17/2023 (aa)		1,797		1,801
2.60%, 10/12/2022		915		915
6.41%, 10/15/2022		500		505
Kroger Co. (The), 2.80%, 08/01/2022		3,000		3,000


				6,221

Healthcare — Products — 0.6%
Stryker Corp., 0.60%, 12/01/2023		1,330		1,276
Thermo Fisher Scientific, Inc., 0.80%, 10/18/2023		1,100		1,067
(SOFR Compounded Index + 0.53%), 1.40%, 10/18/2024 (aa)		1,285		1,271


				3,614

Healthcare — Services — 0.9%
Elevance Health, Inc., 2.95%, 12/01/2022		1,906		1,905
HCA, Inc., 5.00%, 03/15/2024		800		805
Humana, Inc., 0.65%, 08/03/2023		3,040		2,942


				5,652

Pharmaceuticals — 3.2%
AbbVie, Inc., 2.90%, 11/06/2022		9,500		9,499
Bayer US Finance II LLC,
(ICE LIBOR USD 3 Month + 1.01%), 2.84%, 12/15/2023 (e) (aa)		2,700		2,685
3.88%, 12/15/2023 (e)		5,195		5,187
Shire Acquisitions Investments Ireland DAC, (Ireland), 2.88%, 09/23/2023		796		788
Takeda Pharmaceutical Co. Ltd., (Japan), 4.40%, 11/26/2023		1,000		1,008


				19,167

Total Consumer Non-cyclical				41,529

Diversified — 0.3%
Holding Companies—Diversified — 0.3%
Hutchison Whampoa International 12 II Ltd., (Cayman Islands), Reg. S, 3.25%, 11/08/2022		1,700		1,702

Energy — 1.3%
Oil & Gas — 0.7%
Phillips 66, 0.90%, 02/15/2024		1,800		1,715
Saudi Arabian Oil Co., (Saudi Arabia), Reg. S, 2.88%, 04/16/2024		1,500		1,471
Woodside Finance Ltd., (Australia), Reg. S, 3.70%, 09/15/2026		1,000		965


				4,151


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Pipelines — 0.6%
Enbridge, Inc., (Canada), 0.55%, 10/04/2023		220		212
(United States SOFR + 0.40%), 1.64%, 02/17/2023 (aa)		375		373
2.15%, 02/16/2024		720		699
4.00%, 10/01/2023		1,750		1,758
Kinder Morgan, Inc., 3.15%, 01/15/2023		569		568
Sabine Pass Liquefaction LLC, 5.63%, 04/15/2023		200		202


				3,812

Total Energy				7,963

Financial — 24.6%
Banks — 20.3%
ADCB Finance Cayman Ltd., (Cayman Islands), (BBSW ASX Australian 3 Month + 1.38%), 1.91%, 10/25/2022 (aa)	AUD	2,400		1,659
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024		1,000		934
Banco Bilbao Vizcaya Argentaria SA, (Spain), 0.88%, 09/18/2023		800		772
Banco Santander SA, (Spain),
(CMT Index 1 Year + 0.45%), 0.70%, 06/30/2024 (aa)		1,200		1,157
3.85%, 04/12/2023		3,400		3,393
Bank of America Corp.,
(United States SOFR + 0.67%), 1.84%, 02/04/2025 (aa)		1,490		1,436
(ICE LIBOR USD 3 Month + 0.79%), 3.00%, 12/20/2023 (aa)		9,366		9,337
(ICE LIBOR USD 3 Month + 0.78%), 3.55%, 03/05/2024 (aa)		1,100		1,097
(ICE LIBOR USD 3 Month + 0.94%), 3.86%, 07/23/2024 (aa)		1,000		997
Barclays plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.38%), 2.79%, 05/16/2024 (aa)		4,400		4,398
Reg. S, (BBSW ASX Australian 3 Month + 1.80%), 3.51%, 06/15/2023 (aa)	AUD	1,000		694
BNP Paribas SA, (France), Reg. S, (BBSW ASX Australian 3 Month + 1.75%), 3.49%, 12/16/2022 (aa)	AUD	500		347
BPCE SA, (France), 4.00%, 04/15/2024		700		699
Canadian Imperial Bank of Commerce, (Canada), 0.45%, 06/22/2023		2,200		2,132
Citigroup, Inc.,
(United States SOFR + 1.67%), 1.68%, 05/15/2024 (aa)		6,480		6,353
(ICE LIBOR USD 3 Month + 0.95%), 2.13%, 07/24/2023 (aa)		700		698
(BBSW ASX Australian 3 Month + 1.72%), 2.25%, 10/27/2023 (aa)	AUD	1,000		696
(United States SOFR + 1.37%), 2.66%, 05/24/2025 (aa)		2,000		1,984


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
(ICE LIBOR USD 3 Month + 0.95%), 2.88%, 07/24/2023 (aa)		295		295
Credit Suisse AG, (Switzerland), 0.52%, 08/09/2023		4,200		4,054
(BBSW ASX Australian 3 Month + 1.15%), 2.24%, 05/26/2023 (aa)	AUD	2,500		1,727
Credit Suisse Group AG, (Switzerland), 3.80%, 06/09/2023		1,000		992
Credit Suisse Group Funding Guernsey Ltd., (Guernsey), 3.80%, 09/15/2022		2,734		2,736
Danske Bank A/S, (Denmark),
Reg. S, (ICE LIBOR USD 3 Month + 1.06%), 2.78%, 09/12/2023 (aa)		500		500
Reg. S, 5.38%, 01/12/2024		1,200		1,212
Deutsche Bank AG, (Germany), 3.95%, 02/27/2023		1,500		1,497
DNB Bank ASA, (Norway), (SOFR Compounded Index + 0.83%), 2.34%, 03/28/2025 (e) (aa)		1,295		1,286
Federation des Caisses Desjardins du Quebec, (Canada), (United States SOFR + 0.43%), 1.72%, 05/21/2024 (e) (aa)		1,900		1,866
Goldman Sachs Group, Inc. (The), 0.52%, 03/08/2023		4,000		3,922
1.22%, 12/06/2023		600		578
(United States SOFR + 0.50%), 1.94%, 09/10/2024 (aa)		2,500		2,437
(United States SOFR + 1.39%), 2.87%, 03/15/2024 (aa)		800		801
(ICE LIBOR USD 3 Month + 0.99%), 2.91%, 07/24/2023 (aa)		300		300
3.20%, 02/23/2023		1,516		1,517
Hana Bank, (South Korea), (ICE LIBOR USD 3 Month + 0.70%), 2.98%, 10/02/2022 (e) (aa)		400		400
HSBC Holdings plc, (United Kingdom),
(United States SOFR + 0.58%), 1.85%, 11/22/2024 (aa)		620		601
(ICE LIBOR USD 3 Month + 1.00%), 2.46%, 05/18/2024 (aa)		3,500		3,471
(ICE LIBOR USD 3 Month + 1.23%), 2.95%, 03/11/2025 (aa)		1,000		992
3.60%, 05/25/2023		1,500		1,504
KeyBank NA, (United States SOFR + 0.32%), 0.43%, 06/14/2024 (aa)		375		364
Lloyds Banking Group plc, (United Kingdom),
(BBSW ASX Australian 3 Month + 1.30%), 3.14%, 03/20/2023 (aa)	AUD	300		207
4.05%, 08/16/2023		1,400		1,404
Mitsubishi UFJ Financial Group, Inc., (Japan), (ICE LIBOR USD 3 Month + 0.86%), 2.07%, 07/26/2023 (aa)		2,300		2,300


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Banks — continued
Mizuho Financial Group, Inc., (Japan),
(ICE LIBOR USD 3 Month + 0.63%), 2.15%, 05/25/2024 (aa)		5,000		4,944
3.55%, 03/05/2023		2,500		2,508
Morgan Stanley,
(United States SOFR + 0.46%), 0.53%, 01/25/2024 (aa)		7,200		7,060
(ICE LIBOR USD 3 Month + 0.85%), 3.74%, 04/24/2024 (aa)		2,500		2,494
3.75%, 02/25/2023		1,000		1,003
NatWest Group plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.55%), 3.75%, 06/25/2024 (aa)		1,750		1,751
3.88%, 09/12/2023		4,400		4,388
NatWest Markets plc, (United Kingdom), (United States SOFR + 1.66%), 3.17%, 09/29/2022 (e) (aa)		2,100		2,103
Nordea Bank Abp, (Finland), (ICE LIBOR USD 3 Month + 0.94%), 2.54%, 08/30/2023 (e) (aa)		200		200
Oversea-Chinese Banking Corp. Ltd., (Singapore),
(BBSW ASX Australian 3 Month + 0.26%), 1.24%, 08/12/2024 (aa)	AUD	1,000		682
(BBSW ASX Australian 3 Month + 0.35%), 2.19%, 03/18/2024 (f) (aa)	AUD	1,000		686
Santander Holdings USA, Inc., 3.40%, 01/18/2023		400		399
Societe Generale SA, (France), 2.63%, 01/22/2025 (e)		800		761
3.88%, 03/28/2024 (e)		700		693
4.25%, 09/14/2023 (e)		300		301
Standard Chartered plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa)		1,600		1,571
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 1.61%, 10/16/2024 (aa)	AUD	2,300		1,589
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e)		200		186
UBS AG, (Switzerland),
(United States SOFR + 0.36%), 1.53%, 02/09/2024 (e) (aa)		1,000		994
Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 1.58%, 07/30/2025 (aa)	AUD	2,100		1,442
(United States SOFR + 0.45%), 1.62%, 08/09/2024 (e) (aa)		1,615		1,604
UBS Group AG, (Switzerland), (ICE LIBOR USD 3 Month + 0.95%), 2.86%, 08/15/2023 (e) (aa)		3,500		3,499
Wells Fargo & Co.,
(United States SOFR + 1.60%), 1.65%, 06/02/2024 (aa)		3,000		2,930


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
2.51%, 10/27/2023 (f)	CAD	2,500		1,898
Woori Bank, (South Korea), Reg. S, (ICE LIBOR USD 3 Month + 0.87%), 2.16%, 02/01/2023 (aa)		300		300


				121,732

Diversified Financial Services — 4.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 4.13%, 07/03/2023		2,600		2,575
4.50%, 09/15/2023		1,100		1,095
Air Lease Corp.,
(ICE LIBOR USD 3 Month + 0.35%), 2.18%, 12/15/2022 (aa)		2,800		2,797
2.63%, 07/01/2022		2,410		2,410
Aircastle Ltd., (Bermuda), 5.00%, 04/01/2023		500		499
American Express Co.,
(United States SOFR + 0.93%), 2.32%, 03/04/2025 (aa)		1,120		1,110
3.38%, 05/03/2024		970		963
3.40%, 02/22/2024		2,000		1,995
Aviation Capital Group LLC, 3.88%, 05/01/2023 (e)		2,500		2,479
Capital One Financial Corp., 2.60%, 05/11/2023		3,500		3,476
International Lease Finance Corp., 5.88%, 08/15/2022		300		301
Mitsubishi HC Capital, Inc., (Japan), 2.65%, 09/19/2022 (e)		800		799
3.96%, 09/19/2023 (e)		550		550
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025		1,900		1,742
ORIX Corp., (Japan), 3.25%, 12/04/2024		400		394
Park Aerospace Holdings Ltd., (Cayman Islands), 5.25%, 08/15/2022 (e)		1,300		1,300
Synchrony Financial, 4.38%, 03/19/2024		750		746


				25,231

Savings & Loans — 0.1%
Nationwide Building Society, (United Kingdom), (ICE LIBOR USD 3 Month + 1.06%), 3.77%, 03/08/2024 (e) (aa)		1,000		997

Total Financial				147,960

Industrial — 3.1%
Aerospace/Defense — 0.4%
Boeing Co. (The),
1.43%, 02/04/2024		1,200		1,147
4.51%, 05/01/2023		1,000		1,002


				2,149

Building Materials — 0.1%
Martin Marietta Materials, Inc., 0.65%, 07/15/2023		695		672


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Engineering & Construction — 0.1%
Sydney Airport Finance Co. Pty Ltd., (Australia), Reg. S, 3.90%, 03/22/2023		400		400

Machinery — Construction & Mining — 0.3%
Caterpillar Financial Services Corp., (United States SOFR + 0.45%), 1.67%, 11/13/2023 (aa)		835		833
Komatsu Finance America, Inc., Reg. S, 0.85%, 09/09/2023		1,200		1,163


				1,996

Machinery — Diversified — 0.3%
CNH Industrial NV, (Netherlands), 4.50%, 08/15/2023		1,000		1,009
Rockwell Automation, Inc., 0.35%, 08/15/2023		480		465


				1,474

Miscellaneous Manufacturers — 0.5%
General Electric Co., 2.70%, 10/09/2022		1,185		1,185
Parker-Hannifin Corp., 3.65%, 06/15/2024		2,100		2,094


				3,279

Packaging & Containers — 0.3%
Berry Global, Inc., 0.95%, 02/15/2024		1,800		1,706

Transportation — 0.3%
Ryder System, Inc., 3.88%, 12/01/2023		2,000		2,001

Trucking & Leasing — 0.8%
Penske Truck Leasing Co. LP / PTL Finance Corp.,
2.70%, 03/14/2023 (e)		3,000		2,991
3.90%, 02/01/2024 (e)		2,000		1,992


				4,983

Total Industrial				18,660

Technology — 3.1%
Computers — 0.3%
International Business Machines Corp., 2.88%, 11/09/2022		304		304
Leidos, Inc., 2.95%, 05/15/2023		1,700		1,684


				1,988

Semiconductors — 0.4%
Broadcom Corp. / Broadcom Cayman Finance Ltd., (Multinational), 3.63%, 01/15/2024		2,000		2,000
SK Hynix, Inc., (South Korea), 1.00%, 01/19/2024 (e)		400		382


				2,382

Software — 2.4%
Fidelity National Information Services, Inc.,
0.38%, 03/01/2023		3,745		3,668
0.60%, 03/01/2024		1,115		1,056
Fiserv, Inc., 3.80%, 10/01/2023		3,415		3,418
Oracle Corp.,
2.40%, 09/15/2023		2,000		1,970
2.50%, 10/15/2022		1,180		1,177


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Software — continued
VMware, Inc., 0.60%, 08/15/2023		3,100		2,998


				14,287

Total Technology				18,657

Utilities — 2.7%
Electric — 2.7%
Ausgrid Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 1.22%), 1.93%, 10/30/2024 (aa)		AUD 1,500		1,036
Dominion Energy, Inc., Series D, (ICE LIBOR USD 3 Month + 0.53%), 2.36%, 09/15/2023 (aa)		1,800		1,792
Enel Finance International NV, (Netherlands), 2.65%, 09/10/2024 (e)		1,500		1,454
Israel Electric Corp. Ltd., (Israel),
6.88%, 06/21/2023 (e)		500		512
Series 6, Reg. S, 5.00%, 11/12/2024 (e)		300		304
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024		1,740		1,688
NextEra Energy Capital Holdings, Inc.,
0.65%, 03/01/2023		3,965		3,897
(SOFR Compounded Index + 0.54%), 1.89%, 03/01/2023 (aa)		710		706
Pacific Gas and Electric Co.,
3.25%, 06/15/2023		100		98
3.40%, 08/15/2024		100		96
3.75%, 02/15/2024		100		98
3.85%, 11/15/2023		100		99
4.25%, 08/01/2023		800		796
Southern California Edison Co., 0.70%, 04/03/2023		2,200		2,150
Southern Co. (The), Series 2021, (United States SOFR + 0.37%), 1.55%, 05/10/2023 (aa)		1,300		1,290

Total Utilities				16,016

Total Corporate Bonds (Cost $337,861)				330,578

Foreign Government Securities — 0.7%
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026		3,100		2,793
Korea Development Bank (The), (South Korea), Reg. S, (ICE LIBOR USD 3 Month + 0.80%), 2.04%, 10/30/2022 (aa)		400		401
Korea National Oil Corp., (South Korea), Reg. S, (ICE LIBOR USD 3 Month + 0.88%), 1.92%, 07/16/2023 (aa)		800		803

Total Foreign Government Securities (Cost $4,305)				3,997

Municipal Bonds — 0.5% (t)
Alaska — 0.0% (g)
Alaska Municipal Bond Bank Authority, Taxable, Series 2, Rev., 0.34%, 12/01/2022		235		233


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — 0.1%
Municipal Improvement Corp. of Los Angeles, Series A, Rev., 0.42%, 11/01/2023		590		569

Maryland — 0.1%
State of Maryland Department of Transportation, Series A, Rev., 0.36%, 08/01/2023		450		436

North Carolina — 0.1%
University of North Carolina at Charlotte (The), Rev., 0.41%, 04/01/2023		350		342

Pennsylvania — 0.2%
Philadelphia Authority for Industrial Development, Rev., 0.94%, 04/15/2024		1,555		1,478

Total Municipal Bonds (Cost $3,180)				3,058

U.S. Government Agency Securities — 0.4%
FHLBs,
0.96%, 03/05/2026		2,100		1,936
1.11%, 07/27/2026		567		519

Total U.S. Government Agency Securities (Cost $2,667)				2,455

U.S. Treasury Obligations — 1.9%
U.S. Treasury Notes,
0.75%, 12/31/2023		10,400		10,068
0.75%, 11/15/2024		1,000		949
1.00%, 12/15/2024		300		286

Total U.S. Treasury Obligations (Cost $11,688)				11,303

Short-Term Investments — 14.4%
Certificates of Deposit — 7.1%
Bank of Montreal, 1.17%, 02/09/2023 (n)		3,000		2,962
Bank of Nova Scotia (The), 0.20%, 09/21/2022 (n)		1,000		996
Barclays Bank plc, 1.67%, 03/03/2023 (n)		2,000		1,977
Canadian Imperial Bank of Commerce, 0.35%, 11/02/2022 (n)		3,000		2,979
Citibank NA, 0.98%, 02/02/2023 (n)		3,000		2,961
Credit Suisse AG,
0.39%, 11/01/2022 (n)		3,000		2,979
1.12%, 02/02/2023 (n)		3,000		2,962
3.17%, 06/09/2023 (n)		1,200		1,194
MUFG Bank Ltd., 0.31%, 10/25/2022 (n)		5,500		5,463
Natixis Bank SA,
0.30%, 10/20/2022 (n)		2,500		2,483
3.10%, 06/09/2023 (n)		3,000		2,984
Royal Bank of Canada, 0.38%, 11/10/2022 (n)		1,500		1,488
Svenska Handelsbanken, (Sweden), (United States SOFR + 0.25%), 0.31%, 02/24/2023 (n) (aa)		2,000		1,996
Toronto-Dominion Bank (The),
0.27%, 10/20/2022 (n)		2,000		1,987
0.34%, 10/28/2022 (n)		2,500		2,483
0.74%, 12/30/2022 (n)		2,000		1,977


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Certificates of Deposit — continued
1.17%, 02/10/2023 (n)		3,000		2,961

Total Certificates of Deposit				42,832

Commercial Papers — 0.8%
Macquarie Bank Ltd., (Australia), 1.39%, 02/06/2023 (e) (n)		3,000		2,940
Royal Bank of Canada, (Canada), 0.00%, 10/20/2022 (e) (n)		2,000		1,987

Total Commercial Papers				4,927

Foreign Government Securities — 3.0%
Bank of Israel Bill — Makam, (Israel),
Series 313, Reg. S, Zero Coupon, 03/02/2023	ILS	670		190
Series 1112, Reg. S, Zero Coupon, 11/02/2022	ILS	5,700		1,627
Japan Treasury Discount Bill, (Japan),
Series 1057, Zero Coupon, 08/10/2022	JPY	1,000,000		7,372
Series 1090, Zero Coupon, 09/26/2022	JPY	580,000		4,276
Quebec T-Bill, (Canada), Zero Coupon, 08/12/2022	CAD	5,500		4,263

Total Foreign Government Securities				17,728

Municipal Bonds — 0.1% (t)
City of Norwich, Taxable, GO, 1.35%, 08/01/2022		75		75
State of Connecticut, Taxable, Series A, GO, 4.25%, 06/15/2023		380		385

Total Municipal Bonds				460

Repurchase Agreement — 2.2%
Toronto Dominion Securities LLC, 1.48%, dated 06/30/2022 due 07/01/2022, repurchase price $13,101 collateralized by U.S. Treasury Security, 2.63%, due 02/15/2029, with a value of $13,524.		13,100		13,100

Time Deposits — 0.4%
Australia & New Zealand Banking Group Ltd., 0.25%, 07/01/2022	AUD	25		17
BNP Paribas SA, 0.52%, 07/01/2022	GBP	57		69
Citibank NA,
(0.78%), 07/01/2022	EUR	80		83
0.91%, 07/01/2022		693		693
Royal Bank of Canada,
0.51%, 07/04/2022	CAD	153		119
0.91%, 07/01/2022		1,365		1,365
Sumitomo Mitsui Banking Corp., (0.36%), 07/01/2022	JPY	128		1

Total Time Deposits				2,347

U.S. Treasury Obligations — 0.8%
U.S. Treasury Bill,
Zero Coupon, 07/12/2022		2,300		2,299
Zero Coupon, 07/07/2022		1,000		1,000
Zero Coupon, 07/14/2022		300		300


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Short-Term Investments — continued
U.S. Treasury Obligations — continued
Zero Coupon, 07/28/2022		1,500		1,499

Total U.S. Treasury Obligations				5,098

Total Short-Term Investments (Cost $87,424)				86,492


Total Investments — 99.6% (Cost — $611,402)*				597,750

Other Assets in Excess of Liabilities — 0.4%				2,342


NET ASSETS — 100.0%			$	600,092

Percentages indicated are based on net assets

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JUNE 30, 2022


ASX		— Australian Stock Exchange
BBSW		— Bank Bill Swap Rate
CDX		— Credit Default Swap Index
CLO		— Collateralized Loan Obligations
CMT		— Constant Maturity Treasury
FHLB		— Federal Home Loan Bank
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
Reg. S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Interbank Average Rate
SUB		— Step-Up Bond. The interest rate shown is the rate in effect as of June 30, 2022.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.


(f)		— Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(n)		— The rate shown is the effective yield as of June 30, 2022.
(t)		— The date shown represents the earliest of the next put date, next demand date or final maturity date.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.
(bb)		— Security has been valued using significant unobservable inputs.
*		— The cost of securities is substantially the same for federal income tax purposes.
AUD		— Australian Dollar
CAD		— Canadian Dollar
EUR		— Euro
GBP		— British Pound
ILS		— Israeli New Shekel
JPY		— Japanese Yen
USD		— United States Dollar


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — 3.5%
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,200		1,199
BMW Canada Auto Trust, (Canada), Series 2022-1A, Class A1, 3.65%, 12/20/2024 (e)	CAD	1,100		853
Chesapeake Funding II LLC, Series 2019-1A, Class A1, 2.94%, 04/15/2031 (e)		135		136
CIT Mortgage Loan Trust, Series 2007-1, Class 1A, (ICE LIBOR USD 1 Month + 1.35%), 2.97%, 10/25/2037 (e) (aa)		185		184
DLLST LLC, Series 2022-1A, Class A1, 1.56%, 05/22/2023 (e)		755		752
DT Auto Owner Trust, Series 2020-3A, Class A, 0.54%, 04/15/2024 (e)		14		14
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e)		972		883
FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.27%, 10/19/2037 (e)		894		824
Ford Auto Securitization Trust, (Canada),
Series 2019-BA, Class A2, 2.32%, 10/15/2023 (e)	CAD	23		18
Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e)	CAD	700		528
Ford Credit Floorplan Master Owner Trust A,
Series 2019-3, Class A2, (ICE LIBOR USD 1 Month + 0.60%), 1.92%, 09/15/2024 (aa)		600		600
Series 2020-1, Class A1, 0.70%, 09/15/2025		1,700		1,640
GM Financial Automobile Leasing Trust, Series 2022-2, Class A2, 2.93%, 10/21/2024		900		895
GMF Canada Leasing Trust, (Canada), Series 2021-1A, Class A2, 0.64%, 03/20/2024 (e)	CAD	570		440
Hertz Vehicle Financing III LLC, Series 2022-3A, Class A, 3.37%, 03/25/2025 (e)		100		99
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e)		900		853
Nelnet Student Loan Trust, Series 2019-2A, Class A, (ICE LIBOR USD 1 Month + 0.90%), 2.52%, 06/27/2067 (e) (aa)		1,087		1,076
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e)		350		346
Oscar US Funding XII LLC, (Japan), Series 2021-1A, Class A2, 0.40%, 03/11/2024 (e)		642		638
Oscar US Funding XIII LLC, Series 2021-2A, Class A2, 0.39%, 08/12/2024 (e)		584		577
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (ICE LIBOR USD 1 Month + 0.80%), 2.42%, 07/25/2035 (aa)		966		957


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Pawneee Equipment Receivables Series LLC, Series 2021-1, Class A2, 1.10%, 07/15/2027 (e)		1,100		1,055
PRET LLC,
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e)		826		742
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e)		574		537
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e)		274		257
Santander Drive Auto Receivables Trust, Series 2022-2, Class A2, 2.12%, 10/15/2026		1,500		1,490
SLM Student Loan Trust, Series 2004-10, Class A7B, (ICE LIBOR USD 3 Month + 0.60%), 1.78%, 10/25/2029 (e) (aa)		1,214		1,205
SMB Private Education Loan Trust,
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e)		539		523
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e)		587		535
Towd Point Asset Trust, Series 2021-SL1, Class A2, (ICE LIBOR USD 1 Month + 0.70%), 2.31%, 11/20/2061 (e) (aa)		231		227
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e)		1,800		1,676

Total Asset-Backed Securities (Cost $22,493)				21,759

Collateralized Mortgage Obligations — 3.4%
Avon Finance NO 2 plc, (United Kingdom), Series 2X, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 1.69%, 09/20/2048 (aa)	GBP	149		181
Brass NO 8 plc, (United Kingdom), Series 8A, Class A1, (ICE LIBOR USD 3 Month + 0.70%), 2.11%, 11/16/2066 (e) (aa)		71		71
Canterbury Finance NO 1 plc, (United Kingdom), Series 1, Class A2, Reg. S, (SONIA Interest Rate Benchmark + 1.35%), 1.95%, 05/16/2056 (aa)	GBP	746		908
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 1.53%, 08/20/2045 (aa)	GBP	522		631
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z)		338		318
Finsbury Square plc, (United Kingdom),
Series 2019-3, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.01%), 1.77%, 12/16/2069 (aa)	GBP	153		185
Series 2020-2A, Class A, (SONIA Interest Rate Benchmark + 1.30%), 2.06%, 06/16/2070 (e) (aa)	GBP	281		342


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Collateralized Mortgage Obligations — continued
FNMA REMICS,
Series 2020-29, Class FC, (ICE LIBOR USD 1 Month + 0.80%), 1.60%, 05/25/2050 (aa)		1,935		1,951
Series 2022-8, Class D, 2.00%, 08/25/2038		1,736		1,654
GCAT LLC, Series 2020-3, Class A1, SUB, 2.98%, 09/25/2025 (e)		767		754
GNMA,
Series 2015-H04, Class FA, (ICE LIBOR USD 1 Month + 0.65%), 1.45%, 12/20/2064 (aa)		1,264		1,252
Series 2017-121, Class PE, 3.00%, 07/20/2046		230		227
Series 2018-H18, Class FC, (ICE LIBOR USD 1 Month + 0.35%), 1.15%, 08/20/2065 (aa)		1,643		1,629
Series 2019-54, Class KF, (ICE LIBOR USD 1 Month + 0.42%), 1.48%, 05/20/2044 (aa)		486		483
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 2.27%, 06/20/2071 (aa)		1,600		1,657
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 1.07%, 01/20/2052 (aa)		982		918
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 1.12%, 01/20/2072 (aa)		784		761
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z)		287		272
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e)		1,398		1,287
London Wall Mortgage Capital plc, (United Kingdom), Series 2017-FL1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.97%), 1.57%, 11/15/2049 (aa)	GBP	29		35
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z)		488		450
New Residential Mortgage Loan Trust,
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z)		128		127
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z)		306		290
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z)		750		723
Sage AR Funding No 1 plc, (United Kingdom), Series 1A, Class A, (SONIA Interest Rate Benchmark + 1.25%), 1.86%, 11/17/2030 (e) (aa)	GBP	800		956
Silverstone Master Issuer plc, (United Kingdom), Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 0.51%, 01/21/2070 (e) (aa)		700		695


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Starwood Mortgage Residential Trust,
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z)		308		300
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z)		397		378
Stratton Mortgage Funding, (United Kingdom), Series 2021-2A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 1.36%, 07/20/2060 (e) (aa)	GBP	161		195
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 0.90%), 1.36%, 07/20/2045 (e) (aa)	GBP	674		820
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (ICE LIBOR USD 1 Month + 1.00%), 2.62%, 05/25/2058 (e) (aa)		369		364

Total Collateralized Mortgage Obligations (Cost $21,717)				20,814

Commercial Mortgage-Backed Securities — 1.6%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (ICE LIBOR USD 1 Month + 0.88%), 2.07%, 09/15/2034 (e) (aa)		500		490
AREIT Trust, Series 2019-CRE3, Class A, (CME Term SOFR 1 Month + 1.38%), 2.72%, 09/14/2036 (e) (aa)		106		105
AREIT Trust, (Cayman Islands),
Series 2020-CRE4, Class A, (United States 30 Day Average SOFR + 2.73%), 3.51%, 04/15/2037 (e) (aa)		82		82
Series 2021-CRE5, Class A, (ICE LIBOR USD 1 Month + 1.08%), 2.60%, 11/17/2038 (e) (aa)		567		548
Series 2022-CRE6, Class A, (United States 30 Day Average SOFR + 1.25%), 2.02%, 01/16/2037 (e) (aa)		900		864
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (ICE LIBOR USD 1 Month + 1.00%), 2.33%, 06/15/2035 (e) (aa)		500		484
BAMLL Commercial Mortgage Securities Trust, Series 2019-RLJ, Class A, (ICE LIBOR USD 1 Month + 1.05%), 2.37%, 04/15/2036 (e) (aa)		400		392
BWAY Mortgage Trust, Series 2021-1450, Class A, (ICE LIBOR USD 1 Month + 1.25%), 2.57%, 09/15/2036 (e) (aa)		500		480
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058		766		757
Citigroup Commercial Mortgage Trust, Series 2021-KEYS, Class A, (ICE LIBOR USD 1 Month + 1.18%), 2.50%, 10/15/2036 (e) (aa)		900		889
LUXE Trust, Series 2021-MLBH, Class A, (ICE LIBOR USD 1 Month + 0.98%), 2.31%, 11/15/2038 (e) (aa)		800		769


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Commercial Mortgage-Backed Securities — continued
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 2.35%, 12/15/2034 (e) (aa)		900		899
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C11, Class AAB, 3.85%, 08/15/2046		256		255
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (ICE LIBOR USD 1 Month + 1.00%), 2.32%, 05/15/2036 (e) (aa)		700		673
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 3.10%, 03/15/2035 (e) (aa)		900		880
SREIT Trust, Series 2021-IND, Class A, (ICE LIBOR USD 1 Month + 0.70%), 2.02%, 10/15/2038 (e) (aa)		100		95
VMC Finance LLC, Series 2021-FL4, Class A, (ICE LIBOR USD 1 Month + 1.10%), 2.71%, 06/16/2036 (e) (aa)		367		358
WFRBS Commercial Mortgage Trust, Series 2013-C11, Class A5, 3.07%, 03/15/2045		876		872

Total Commercial Mortgage-Backed Securities (Cost $10,180)				9,892

Corporate Bonds — 15.4%
Communications — 1.4%
Internet — 0.0% (g)
SK Broadband Co. Ltd., (South Korea), Reg. S, 3.88%, 08/13/2023		200		201

Media — 0.5%
Charter Communications Operating LLC / Charter Communications Operating Capital, (ICE LIBOR USD 3 Month + 1.65%), 2.94%, 02/01/2024 (aa)		1,700		1,713
Discovery Communications LLC, 2.95%, 03/20/2023		1,500		1,490

				3,203

Telecommunications — 0.9%
AT&T, Inc., Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 3.11%, 09/19/2023 (aa)	AUD	800		555
SES SA, (Luxembourg), 3.60%, 04/04/2023 (e)		1,400		1,381
Verizon Communications, Inc.,
Reg. S, (BBSW ASX Australian 3 Month + 1.22%), 2.24%, 02/17/2023 (aa)	AUD	1,500		1,037
(ICE LIBOR USD 3 Month + 1.10%), 2.51%, 05/15/2025 (aa)		900		894
Vodafone Group plc, (United Kingdom), Reg. S, (BBSW ASX Australian 3 Month + 1.05%), 2.67%, 12/13/2022 (aa)	AUD	2,600		1,797

				5,664

Total Communications				9,068


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Consumer Cyclical — 1.3%
Auto Manufacturers — 1.0%
General Motors Financial Co., Inc., 3.25%, 01/05/2023		900		898
3.70%, 05/09/2023		1,200		1,200
Hyundai Capital America,
0.80%, 04/03/2023 (e)		1,200		1,171
Reg. S, 1.25%, 09/18/2023		100		97
Reg. S, 4.13%, 06/08/2023		400		400
Nissan Motor Acceptance Co. LLC,
(ICE LIBOR USD 3 Month + 0.65%), 1.67%, 07/13/2022 (e) (aa)		700		700
(ICE LIBOR USD 3 Month + 0.69%), 2.92%, 09/28/2022 (e) (aa)		1,620		1,614

				6,080

Retail — 0.3%
7-Eleven, Inc., 0.63%, 02/10/2023 (e)		1,800		1,765
McDonald’s Corp., Reg. S, (BBSW ASX Australian 3 Month + 1.13%), 2.59%, 03/08/2024 (aa)	AUD	600		415

				2,180

Total Consumer Cyclical				8,260

Consumer Non-cyclical — 1.7%
Agriculture — 0.6%
BAT Capital Corp., (ICE LIBOR USD 3 Month + 0.88%), 2.29%, 08/15/2022 (aa)		3,500		3,498

Beverages — 0.0% (g)
JDE Peet’s NV, (Netherlands), 0.80%, 09/24/2024 (e)		400		372

Commercial Services — 0.1%
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 3.79%, 12/16/2024 (aa)	AUD	1,000		706

Food — 0.1%
General Mills, Inc., 6.41%, 10/15/2022		600		605

Healthcare — Products — 0.2%
Thermo Fisher Scientific, Inc., 0.80%, 10/18/2023		1,300		1,260

Healthcare — Services — 0.1%
HCA, Inc., 5.00%, 03/15/2024		500		503

Pharmaceuticals — 0.6%
Bayer US Finance II LLC, (ICE LIBOR USD 3 Month + 1.01%), 2.84%, 12/15/2023 (e) (aa)		3,500		3,481

Total Consumer Non-cyclical				10,425

Diversified — 0.3%
Holding Companies — Diversified — 0.3%
Hutchison Whampoa International 12 II Ltd., (Cayman Islands), Reg. S, 3.25%, 11/08/2022		1,825		1,827


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Energy — 0.5%
Oil & Gas — 0.4%
Saudi Arabian Oil Co., (Saudi Arabia), Reg. S, 2.88%, 04/16/2024		1,600		1,569
Woodside Finance Ltd., (Australia), Reg. S, 3.70%, 09/15/2026		1,000		965

				2,534

Pipelines — 0.1%
Sabine Pass Liquefaction LLC, 5.63%, 04/15/2023		400		404

Total Energy				2,938

Financial — 7.5%
Banks — 6.0%
ADCB Finance Cayman Ltd., (Cayman Islands), (BBSW ASX Australian 3 Month + 1.38%), 1.91%, 10/25/2022 (aa)	AUD	2,500		1,728
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024		1,100		1,028
Banco Bilbao Vizcaya Argentaria SA, (Spain), 0.88%, 09/18/2023		1,800		1,737
Barclays plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.38%), 2.79%, 05/16/2024 (aa)		1,300		1,299
Reg. S, (BBSW ASX Australian 3 Month + 1.80%), 3.51%, 06/15/2023 (aa)	AUD	750		521
BNP Paribas SA, (France), Reg. S, (BBSW ASX Australian 3 Month + 1.75%), 3.49%, 12/16/2022 (aa)	AUD	700		485
Citigroup, Inc.,
(ICE LIBOR USD 3 Month + 0.95%), 2.13%, 07/24/2023 (aa)		850		848
(BBSW ASX Australian 3 Month + 1.72%), 2.25%, 10/27/2023 (aa)	AUD	1,000		696
Credit Suisse AG, (Switzerland), (BBSW ASX Australian 3 Month + 1.15%), 2.24%, 05/26/2023 (aa)	AUD	2,500		1,727
Danske Bank A/S, (Denmark),
Reg. S, (ICE LIBOR USD 3 Month + 1.06%), 2.78%, 09/12/2023 (aa)		600		600
Reg. S, 5.38%, 01/12/2024		1,100		1,111
Goldman Sachs Group, Inc. (The), 1.22%, 12/06/2023		1,100		1,061
Reg. S, (BBSW ASX Australian 3 Month + 1.55%), 2.25%, 05/02/2024 (aa)	AUD	500		347
(ICE LIBOR USD 3 Month + 0.99%), 2.91%, 07/24/2023 (aa)		300		300
Hana Bank, (South Korea), (ICE LIBOR USD 3 Month + 0.70%), 2.98%, 10/02/2022 (e) (aa)		500		500
HSBC Holdings plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.00%), 2.46%, 05/18/2024 (aa)		800		794
(ICE LIBOR USD 3 Month + 1.23%), 2.95%, 03/11/2025 (aa)		1,000		992


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
Lloyds Banking Group plc, (United Kingdom),
(BBSW ASX Australian 3 Month + 1.30%), 3.14%, 03/20/2023 (aa)	AUD	300		207
4.05%, 08/16/2023		1,390		1,394
Mitsubishi UFJ Financial Group, Inc., (Japan), (ICE LIBOR USD 3 Month + 0.86%), 2.07%, 07/26/2023 (aa)		2,500		2,500
Mizuho Financial Group, Inc., (Japan), (ICE LIBOR USD 3 Month + 0.63%), 2.15%, 05/25/2024 (aa)		3,400		3,362
NatWest Group plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.55%), 3.75%, 06/25/2024 (aa)		700		701
NatWest Markets plc, (United Kingdom), (United States SOFR + 1.66%), 3.17%, 09/29/2022 (e) (aa)		2,360		2,363
Nordea Bank Abp, (Finland), (ICE LIBOR USD 3 Month + 0.94%), 2.54%, 08/30/2023 (e) (aa)		200		200
Oversea-Chinese Banking Corp. Ltd., (Singapore),
(BBSW ASX Australian 3 Month + 0.26%), 1.24%, 08/12/2024 (aa)	AUD	1,000		682
(BBSW ASX Australian 3 Month + 0.35%), 2.18%, 03/18/2024 (f) (aa)	AUD	500		343
Santander Holdings USA, Inc., 3.40%, 01/18/2023		1,300		1,296
Societe Generale SA, (France),
2.63%, 01/22/2025 (e)		800		761
3.88%, 03/28/2024 (e)		500		495
4.25%, 09/14/2023 (e)		500		501
Standard Chartered plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa)		1,700		1,669
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 1.61%, 10/16/2024 (aa)	AUD	2,400		1,658
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e)		400		373
UBS AG, (Switzerland), Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 1.58%, 07/30/2025 (aa)	AUD	2,200		1,511
Wells Fargo & Co., (United States SOFR + 1.32%), 2.30%, 04/25/2026 (aa)		1,300		1,278

				37,068

Diversified Financial Services — 1.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 4.50%, 09/15/2023		1,100		1,095
Ally Financial, Inc., 3.05%, 06/05/2023		300		297
International Lease Finance Corp., 5.88%, 08/15/2022		300		301
Mitsubishi HC Capital, Inc., (Japan), 2.65%, 09/19/2022 (e)		1,700		1,698


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Diversified Financial Services — continued
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025		2,300		2,109
ORIX Corp., (Japan),
2.90%, 07/18/2022		688		688
3.25%, 12/04/2024		400		394
Park Aerospace Holdings Ltd., (Cayman Islands), 5.25%, 08/15/2022 (e)		1,100		1,100

				7,682

Savings & Loans — 0.2%
Nationwide Building Society, (United Kingdom), (ICE LIBOR USD 3 Month + 1.06%), 3.77%, 03/08/2024 (e) (aa)		1,100		1,097

Total Financial				45,847

Industrial — 1.0%
Aerospace/Defense — 0.4%
Boeing Co. (The),
1.43%, 02/04/2024		1,000		956
4.51%, 05/01/2023		1,400		1,403

				2,359

Machinery — Construction & Mining — 0.2%
Komatsu Finance America, Inc., Reg. S, 0.85%, 09/09/2023		1,000		969

Machinery — Diversified — 0.2%
CNH Industrial NV, (Netherlands), 4.50%, 08/15/2023		1,400		1,412

Packaging & Containers — 0.2%
Berry Global, Inc., 0.95%, 02/15/2024		1,200		1,138

Total Industrial				5,878

Technology — 0.2%
Computers — 0.2%
Leidos, Inc., 2.95%, 05/15/2023		1,000		990

Semiconductors — 0.0% (g)
SK Hynix, Inc., (South Korea), 1.00%, 01/19/2024 (e)		300		287

Total Technology				1,277

Utilities — 1.5%
Electric — 1.5%
American Electric Power Co., Inc., Series A, (ICE LIBOR USD 3 Month + 0.48%), 1.77%, 11/01/2023 (aa)		1,300		1,291
Dominion Energy, Inc., Series D, (ICE LIBOR USD 3 Month + 0.53%), 2.36%, 09/15/2023 (aa)		800		796
Israel Electric Corp. Ltd., (Israel), 6.88%, 06/21/2023 (e)		500		512
Series 6, Reg. S, 5.00%, 11/12/2024 (e)		300		304
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024		1,800		1,746
Pacific Gas and Electric Co., 1.70%, 11/15/2023		200		193


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Electric — continued
3.25%, 06/15/2023		200		197
3.75%, 02/15/2024		100		98
3.85%, 11/15/2023		400		395
4.25%, 08/01/2023		800		796
Southern California Edison Co., (SOFR Compounded Index + 0.64%), 2.15%, 04/03/2023 (aa)		1,700		1,697
Southern Co. (The), Series 2021, (United States SOFR + 0.37%), 1.55%, 05/10/2023 (aa)		1,400		1,389

Total Utilities				9,414

Total Corporate Bonds (Cost $97,635)				94,934

Foreign Government Securities — 0.7%
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026		3,400		3,063
Korea Development Bank (The), (South Korea), Reg. S, (ICE LIBOR USD 3 Month + 0.80%), 2.04%, 10/30/2022 (aa)		500		501
Korea National Oil Corp., (South Korea), Reg. S, (ICE LIBOR USD 3 Month + 0.88%), 1.92%, 07/16/2023 (aa)		500		502

Total Foreign Government Securities (Cost $4,404)				4,066

Municipal Bonds — 68.7% (t)
Alabama — 0.1%
Lower Alabama Gas District, Series A, Rev., 4.00%, 12/01/2022		550		553

Alaska — 0.4%
Alaska Housing Finance Corp., Series B, Rev., VRDO, 0.92%, 07/07/2022 (z)		2,400		2,400

Arizona — 2.0%
Arizona State University, Series A, Rev., VRDO, 0.90%, 07/07/2022 (z)		10,200		10,200
Maricopa County Unified School District, GO, 5.00%, 07/01/2022		1,310		1,310
Maricopa County, Union High School District No. 210, School Improvement Project 2011 and 2017, GO, 5.00%, 07/01/2022		1,000		1,000

				12,510

California — 5.8%
Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Series B, Rev., AMT, 5.00%, 07/01/2022		1,430		1,430
California Public Finance Authority, Rev., VRDO, LOC: Barclays Bank plc, 0.52%, 07/01/2022 (z)		2,000		2,000
California Statewide Communities Development Authority, Washington Court Apartments, Rev., HUD, 0.22%, 08/01/2023 (z)		2,250		2,248


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — continued
Los Angeles Department of Water & Power, Power System Revenue, Subordinate, Series B8, Rev., VRDO, 0.70%, 07/07/2022 (z)		5,500		5,500
Sacramento County Sanitation Districts Financing Authority, Rev., 5.00%, 12/01/2022		2,000		2,030
San Francisco City & County Airport Comm-San Francisco International Airport, Series B, Rev., VRDO, LOC: Barclays Bank plc, 0.75%, 07/07/2022 (z)		15,850		15,850
State of California,
GO, 5.00%, 10/01/2022		1,000		1,009
GO, 5.00%, 11/01/2022		1,000		1,013
Series C3, GO, VRDO, LOC: U.S. Bank NA, 0.60%, 07/07/2022 (z)		1,445		1,445
West Valley-Mission Community College District, GO, 5.00%, 08/01/2024 (w)		3,000		3,184

				35,709

Colorado — 0.8%
Denver City & County School District No. 1, GO, 5.00%, 12/01/2022		3,000		3,044
Weld County School District No. 6 Greeley, GO, 5.00%, 12/01/2022		1,850		1,877

				4,921

Connecticut — 3.6%
Connecticut Housing Finance Authority,
Series B3, Rev., VRDO, 0.90%, 07/07/2022 (z)		5,680		5,680
Series F3, Rev., VRDO, 0.88%, 07/07/2022 (z)		10,500		10,500
Connecticut State Health & Educational Facilities Authority, Stamford Hospital Issuer,
Rev., 4.00%, 07/01/2022		500		500
Rev., 4.00%, 07/01/2023		550		558
Connecticut State Health & Educational Facilities Authority, Yale University, Series V1, Rev., VRDO, 0.40%, 07/01/2022 (z)		2,000		2,000
Hartford County, Metropolitan District (The), Series A, GO, 5.00%, 07/15/2022		1,200		1,201
State of Connecticut Special Tax Revenue, Series A, Rev., 4.00%, 05/01/2023		1,530		1,559

				21,998

District of Columbia — 1.3%
District of Columbia, Carnegie, Rev., VRDO, LOC: Wells Fargo Bank NA, 0.89%, 07/07/2022 (z)		2,325		2,325
District of Columbia, Georgetown University, Series B2, Rev., VRDO, LOC: Bank of America NA, 0.91%, 07/07/2022 (z)		3,495		3,495
District of Columbia, Georgetown University (The), Series B1, Rev., VRDO, LOC: Bank of America NA, 0.91%, 07/07/2022 (z)		1,915		1,915

				7,735


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Florida — 8.4%
Central Florida Expressway Authority, Senior Lien,
Rev., AGM, 5.00%, 07/01/2022		1,100		1,100
Rev., AGM, 5.00%, 07/01/2023		1,000		1,033
City of Fort Lauderdale, Police and Public Safety Project, Series B, GO, 5.00%, 07/01/2022		1,215		1,215
County of Miami-Dade, Building Better Communities Project, Series A, GO, 5.00%, 07/01/2022		6,000		6,000
Florida Gulf Coast University Financing Corp., Parking Project, Series A, Rev., VRDO, LOC: TD Bank NA, 0.90%, 07/07/2022 (z)		3,340		3,340
Highlands County Health Facilities Authority, Adventist Health System/Sunbelt Obligated Group, Series A, Rev., VRDO, 0.91%, 07/07/2022 (z)		4,000		4,000
JEA Water & Sewer System Revenue, Subordinate, Series A1, Rev., VRDO, 0.65%, 07/01/2022 (z)		4,000		4,000
JEA Water & Sewer System Revenue,
Rev., 5.00%, 10/01/2024		3,750		3,944
Series B1, Rev., VRDO, 0.92%, 07/07/2022 (z)		8,385		8,385
Orange County Health Facilities Authority, Nemours Foundation, Series B, Rev., VRDO, LOC: Northern Trust Co., 0.82%, 07/07/2022 (z)		1,900		1,900
Orlando Utilities Commission, Series 1, Rev., VRDO, 0.91%, 07/07/2022 (z)		14,630		14,630
Seacoast Utility Authority, Series B, Rev., 5.00%, 03/01/2023		2,215		2,265

				51,812

Georgia — 0.3%
Brookhaven Development Authority, Children’s Healthcare of Atlanta Obligated Group, Series A, Rev., 5.00%, 07/01/2022		1,040		1,040
City of Atlanta Department of Aviation, Series C, Rev., AMT, 5.00%, 07/01/2024		615		645

				1,685

Idaho — 0.7%
Idaho Health Facilities Authority, St Luke’s Health System Obligated Group, Rev., VRDO, LOC: U.S. Bank NA, 0.65%, 07/01/2022 (z)		4,500		4,500

Illinois — 1.8%
County of Cook, Series A, GO, 5.00%, 11/15/2023		2,250		2,344
Illinois Finance Authority, The Catherine Cook School Project, Rev., VRDO, LOC: Northern Trust Co., 0.93%, 07/07/2022 (z)		1,770		1,770
Illinois Finance Authority, University of Chicago Medical Center Obligated Group, Series B, Rev., VRDO, LOC: Wells Fargo Bank NA, 0.65%, 07/01/2022 (z)		3,600		3,600


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Illinois — continued
Sales Tax Securitization Corp., Second Lien, Series A, Rev., 5.00%, 01/01/2024		2,700		2,823
State of Illinois, Series A, GO, 5.00%, 03/01/2023		500		508


				11,045

Indiana — 0.5%
Indiana Finance Authority, Health Systems, Sisters of St. Francis, Series I, Rev., VRDO, LOC: Barclays Bank plc, 0.62%, 07/01/2022 (z)		1,605		1,605
Indiana Municipal Power Agency, Series B, Rev., VRDO, LOC: U.S. Bank NA, 0.65%, 07/01/2022 (z)		1,300		1,300


				2,905

Kansas — 0.2%
Geary County Unified School District No. 475, Series B, GO, 5.00%, 09/01/2022		1,275		1,283

Maine — 0.2%
Maine Health & Higher Educational Facilities Authority,
Series A, Rev., AGM, 5.00%, 07/01/2022		500		500
Series A, Rev., AGM, 5.00%, 07/01/2023		550		566


				1,066

Maryland — 1.4%
City of Frederick, Public Improvement, GO, 3.00%, 12/01/2022		1,000		1,007
Washington Suburban Sanitary Commission, Series A, Rev., VRDO, BAN, CNTY GTD, 0.88%, 07/07/2022 (z)		7,700		7,700


				8,707

Massachusetts — 3.5%
Commonwealth of Massachusetts, Series B, GO, 5.00%, 07/01/2023		4,650		4,802
Massachusetts Bay Transportation Authority, Series A2, Rev., VRDO, 0.89%, 07/07/2022 (z)		4,130		4,130
Massachusetts Development Finance Agency, Northeastern University, Series A, Rev., 5.00%, 10/01/2022		2,350		2,371
Massachusetts Development Finance Agency, Partners Healthcare System, Inc., Series K1, Rev., VRDO, 0.90%, 07/07/2022 (z)		5,700		5,700
Massachusetts Educational Financing Authority, Series B, Rev., AMT, 5.00%, 07/01/2022		2,000		2,000
Massachusetts School Building Authority,
Series A, Rev., 5.00%, 08/15/2022 (p)		2,710		2,721


				21,724

Michigan — 2.7%
University of Michigan, Series D1, Rev., VRDO, 0.60%, 07/01/2022 (z)		3,375		3,375


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Michigan — continued
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Rev., AMT, 4.00%, 12/01/2023 (e)		12,715		13,019


				16,394

Minnesota — 1.1%
City of Rochester, Mayo Clinic,
Series A, Rev., VRDO, 0.93%, 07/07/2022 (z)		3,000		3,000
Series B, Rev., VRDO, 0.93%, 07/07/2022 (z)		3,900		3,900


				6,900

Missouri — 1.4%
City of St Louis Airport Revenue, Series A, Rev., AGM, 5.00%, 07/01/2024		2,000		2,105
Health & Educational Facilities Authority of the State of Missouri, Rev., 5.00%, 06/01/2024		2,380		2,505
State of Missouri, Health & Educational Facilities Authority, Series F, Rev., VRDO, 0.62%, 07/01/2022 (z)		4,235		4,235


				8,845

New Hampshire — 2.3%
New Hampshire Health and Education Facilities Authority Act, Bishop Guertin High School, Rev., VRDO, LOC: TD Bank NA, 0.90%, 07/07/2022 (z)		2,170		2,170
New Hampshire Health and Education Facilities Authority Act, University System of New Hampshire, Series B, Rev., VRDO, 0.60%, 07/01/2022 (z)		8,700		8,700
New Hampshire Health and Education Facilities Authority, University System, Series B1, Rev., VRDO, 0.60%, 07/01/2022 (z)		3,115		3,115


				13,985

New Jersey — 2.8%
City of Newark, Series A, GO, 5.00%, 10/01/2022		700		705
Jersey City Redevelopment Agency, Rev., 4.00%, 12/15/2024		5,350		5,592
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group, Rev., 5.00%, 07/01/2024		6,930		7,288
New Jersey Health Care Facilities Financing Authority, Virtua Health, Series C, Rev., VRDO, LOC: JPMorgan Chase Bank NA, 0.35%, 07/01/2022 (z)		3,075		3,075
New Jersey Higher Education Student Assistance Authority, Series B, Rev., AMT, 5.00%, 12/01/2023		300		311


				16,971


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New Mexico — 2.3%
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 5.00%, 09/01/2024		6,750		7,107
University of New Mexico (The), Rev., VRDO, 0.86%, 07/07/2022 (z)		7,045		7,045


				14,152

New York — 6.9%
City of New York,
Series G6, GO, VRDO, LOC: Mizuho Bank Ltd., 0.61%, 07/01/2022 (z)		4,000		4,000
Series I4, GO, VRDO, LOC: TD Bank NA, 0.60%, 07/01/2022 (z)		2,000		2,000
City of New York, Fiscal 2018, Series B, GO, VRDO, 0.62%, 07/01/2022 (z)		3,700		3,700
City of New York, Fiscal 2017, Series A4, GO, VRDO, LOC: Citibank NA, 0.84%, 07/07/2022 (z)		1,090		1,090
New York City Transitional Finance Authority, Future Tax Secured Revenue,
Rev., 5.00%, 11/01/2023		1,000		1,042
Series A4, Rev., VRDO, 0.60%, 07/01/2022 (z)		4,100		4,100
Series B1, Rev., 4.00%, 11/01/2022		1,800		1,816
New York City Water & Sewer System, Second General Resolution,
Rev., VRDO, 0.60%, 07/01/2022 (z)		3,000		3,000
Series F2, Rev., VRDO, LOC: Citibank NA, 0.65%, 07/01/2022 (z)		1,300		1,300
New York City Water & Sewer System, Various Second General Resolution, Series BB4, Rev., VRDO, 0.62%, 07/01/2022 (z)		2,500		2,500
New York State Dormitory Authority,
Series A, Rev., AGM, 4.00%, 10/01/2023		1,150		1,181
Series B, Rev., 4.00%, 10/01/2023		2,805		2,879
New York State Dormitory Authority, School Districts Financing Program, Rev., 5.00%, 10/01/2023		1,245		1,294
New York State Dormitory Authority, St. John’s University, Series A, Rev., 5.00%, 07/01/2023		500		516
New York State Thruway Authority, Series O, Rev., 5.00%, 01/01/2023		8,905		9,054
New York State Urban Development Corp., Rev., 5.00%, 03/15/2024		1,630		1,714
Triborough Bridge & Tunnel Authority, Series B3, Rev., VRDO, LOC: State Street Bank & Trust Co., 0.64%, 07/01/2022 (z)		1,430		1,430

				42,616

North Carolina — 1.5%
City of Charlotte, Water & Sewer System, Series B, Rev., VRDO, 0.90%, 07/07/2022 (z)		6,120		6,120


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

North Carolina — continued
North Carolina Turnpike Authority, Rev., BAN, 5.00%, 02/01/2024		3,000		3,123

				9,243

Ohio — 3.3%
County of Franklin, Facilities, OhioHealth Corp., Series D, Rev., VRDO, LOC: Northern Trust Co., 0.88%, 07/07/2022 (z)		2,400		2,400
Ohio Higher Educational Facility Commission, Cleveland Clinic Health System Obligated Group, Series B3, Rev., VRDO, 0.65%, 07/01/2022 (z)		4,500		4,500
Ohio State University (The), Series B2, Rev., VRDO, 0.90%, 07/07/2022 (z)		6,725		6,725
State of Ohio, Cleveland Clinic Health System, Rev., VRDO, 0.85%, 07/07/2022 (z)		6,000		6,000
State of Ohio, Mental Health Facilities Improvement, Series A, Rev., 5.00%, 02/01/2024		500		524

				20,149

Oklahoma — 0.4%
Tulsa County, Independent School District No. 1, Series A, GO, 2.00%, 03/01/2023		2,130		2,135

Oregon — 0.5%
Oregon State Lottery, Series A, Rev., 5.00%, 04/01/2024		1,100		1,159
Washington & Multnomah Counties School District No. 48J Beaverton, Series B, GO, SCH BD GTY, 5.00%, 06/15/2024 (w)		2,000		2,113

				3,272

Pennsylvania — 0.9%
Lancaster Higher Education Authority, Harrisburg Area Community, Rev., BAM, 5.00%, 10/01/2023		600		623
Pennsylvania Economic Development Financing Authority,
Series A, Rev., 4.00%, 10/15/2022		600		604
Series A, Rev., 4.00%, 10/15/2023		700		716
Phoenixville Area School District, GO, 4.00%, 11/15/2022		1,000		1,010
Ringgold Pennsylvania School District, GO, BAM, 3.00%, 09/01/2022		2,325		2,331

				5,284

South Carolina — 0.4%
Piedmont Municipal Power Agency, Series E, Rev., 5.00%, 01/01/2023		2,250		2,285

Tennessee — 0.4%
Memphis-Shelby County Airport Authority, Series B, Rev., AMT, 5.00%, 07/01/2022		1,750		1,750
Shelby County Health Educational & Housing Facilities Board, Methodist Le Bonheur, Rev., VRDO, AGM, 0.65%, 07/01/2022 (z)		1,000		1,000

				2,750


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Texas — 6.1%
Allen Independent School District, GO, PSF-GTD, 5.00%, 02/15/2023		1,205		1,229
City of Houston Combined Utility System Revenue, Combined First Lien, Rev., VRDO, 0.91%, 07/07/2022 (z)		9,000		9,000
City of Houston Combined Utility System Revenue, Combined First Lien, Rev., VRDO, (SIFMA Municipal Swap Index + 0.01%), 0.91%, 07/07/2022 (aa)		5,000		5,000
City of Mesquite, GO, 3.00%, 02/15/2023		1,000		1,009
City of San Antonio, Municipal Drainage Utility, Rev., 5.00%, 02/01/2023		1,000		1,020
Collin County, Community College District, Series A, GO, 5.00%, 08/15/2022		1,310		1,316
County of Harris, Road Bonds, Series A, GO, 5.00%, 10/01/2022		1,660		1,675
County of Williamson, GO, 4.00%, 02/15/2023		2,315		2,350
Dallas Fort Worth International Airport, Series B, Rev., 5.00%, 11/01/2022		3,000		3,034
Fort Bend Independent School District, GO, PSF-GTD, 5.00%, 08/15/2022		1,000		1,004
Frisco Independent School District, GO, PSF-GTD, 5.00%, 08/15/2022		1,240		1,245
Garland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2023		1,160		1,185
Harris County Toll Road Authority, First Lien,
Rev., 5.00%, 08/15/2022		2,100		2,109
Rev., 5.00%, 08/15/2023		1,600		1,659
Lower Colorado River Authority, LCRA Transmission Services Corp., Rev., 5.00%, 05/15/2023		1,200		1,232
Round Rock Independent School District, Series A, GO, PSF-GTD, 5.00%, 08/01/2022		1,280		1,284
Texas Water Development Board, Master Trust, Rev., 3.00%, 10/15/2022		2,000		2,010

				37,361

Utah — 0.4%
Central Valley Water Reclamation Facility, Green Bond, Series C, Rev., 5.00%, 03/01/2024		500		525
City of Salt Lake City Public Utilities Revenue, Rev., 5.00%, 02/01/2025		1,550		1,663

				2,188

Virginia — 2.8%
Norfolk Economic Development Authority, Sentara Healthcare Obligated Group,
Series A, Rev., VRDO, 0.90%, 07/07/2022 (z)		7,100		7,100
Series B, Rev., VRDO, 0.85%, 07/07/2022 (z)		9,000		9,000
Virginia College Building Authority, 21st Century College, Series E1, Rev., 5.00%, 02/01/2024		1,285		1,347

				17,447


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Washington — 1.5%
Chelan County Public Utility District No. 1, Series B, Rev., VRDO, 0.90%, 07/07/2022 (z)		8,270		8,270
Snohomish County School District No. 6 Mukilteo, GO, SCH BD GTY, 5.00%, 12/01/2023		1,000		1,045

				9,315

Total Municipal Bonds (Cost $424,277)				421,845

U.S. Government Agency Securities — 0.5%
FHLBs, 0.96%, 03/05/2026		2,400		2,213
1.11%, 07/27/2026		600		550

Total U.S. Government Agency Securities (Cost $3,000)				2,763

U.S. Treasury Obligations — 1.8%
U.S. Treasury Notes, 0.75%, 12/31/2023		10,600		10,262
1.00%, 12/15/2024		1,100		1,048

Total U.S. Treasury Obligations (Cost $11,685)				11,310

Short-Term Investments — 5.2%
Foreign Government Securities — 0.3%
Bank of Israel Bill — Makam, (Israel),
Series 313, Zero Coupon, 03/02/2023 Reg. S	ILS	330		94
Series 1112, Zero Coupon, 11/02/2022 Reg. S	ILS	6,100		1,741

Total Foreign Government Securities				1,835

Municipal Bonds — 1.3% (t)
City of Los Angeles, Rev., TRAN, 4.00%, 06/29/2023 (w)		5,000		5,096
County of Los Angeles, Rev., TRAN, 4.00%, 06/30/2023 (w)		3,000		3,068

Total Municipal Bonds				8,164

Repurchase Agreement — 2.1%
BNP Paribas SA, 1.48%, dated 06/30/2022 due 07/01/2022, repurchase price $13,201 collateralized by U.S. Treasury Security, 1.88%, due 02/15/2041, with a value of $13,569.		13,200		13,200

Time Deposits — 1.2%
Australia & New Zealand Banking Group Ltd., 0.25%, 07/01/2022	AUD	28		19
Barclays SA, 0.91%, 07/01/2022		572		572
BNP Paribas SA, 0.52%, 07/01/2022	GBP	10		12
Citibank NA,
(0.78%), 07/01/2022	EUR	2		2
0.91%, 07/01/2022		6,605		6,605
Royal Bank of Canada, 0.51%, 07/04/2022	CAD	126		98


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Short-Term Investments — continued
Time Deposits — continued
Sumitomo Mitsui Banking Corp., (0.36%), 07/01/2022	JPY	190		2

Total Time Deposits				7,310

U.S. Treasury Obligation — 0.3%
U.S. Treasury Bill, Zero Coupon, 07/14/2022		1,600		1,599

Total Short-Term Investments (Cost $32,245)				32,108


Total Investments — 100.8% (Cost — $627,636)*				619,491

Liabilities in Excess of Other Assets — (0.8)%				(5,033	)


NET ASSETS — 100.0%			$	614,458

Percentages indicated are based on net assets

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JUNE 30, 2022


ASX		— Australian Stock Exchange
AGM		— Insured by Assured Guaranty Municipal Corp.
AMT		— Alternative Minimum Tax
BAM		— Insured by Build America Mutual
BAN		— Bond Anticipation Note
BBSW		— Bank Bill Swap Rate
CDX		— Credit Default Swap Index
CNTY		— County
FHLB		— Federal Home Loan Bank
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
GTD		— Guaranteed
HUD		— U.S. Department of Housing and Urban Development
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
LOC		— Letter of Credit
PSF		— Permanent School Fund
Reg. S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SCH BD GTY		— School Bond Guaranty
SIFMA		— Securities Industry and Financial Markets Association
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Interbank Average Rate
SUB		— Step-Up Bond. The interest rate shown is the rate in effect as of June 30, 2022.


TRAN		— Tax & Revenue Anticipation Note
VRDO		— Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of June 30, 2022.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(f)		— Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(p)		— Security is prerefunded or escrowed to maturity.
(t)		— The date shown represents the earliest of the prerefunded date, next put date or final maturity date.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.
*		— The cost of securities is substantially the same for federal income tax purposes.
AUD		— Australian Dollar
CAD		— Canadian Dollar
EUR		— Euro
GBP		— British Pound
ILS		— Israeli New Shekel
JPY		— Japanese Yen
MXN		— Mexican Peso
USD		— United States Dollar


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — 99.5%
Basic Materials — 0.1%
Chemicals — 0.1%
Air Products & Chemicals, Inc.		6		1,421
Albemarle Corp.		3		593
Celanese Corp., Class A		2		279
CF Industries Holdings, Inc.		5		437
Dow, Inc.		21		1,108
DuPont de Nemours, Inc.		16		891
Eastman Chemical Co.		3		309
Ecolab, Inc.		7		1,114
FMC Corp.		3		295
International Flavors & Fragrances, Inc.		6		740
Linde plc, (United Kingdom)		13		3,804
LyondellBasell Industries NV, Class A		7		656
Mosaic Co. (The)		9		433
PPG Industries, Inc.		7		748
RPM International, Inc.		2		191
Sherwin-Williams Co. (The)		6		1,331


				14,350

Forest Products & Paper — 0.0% (g)
International Paper Co.		13		538

Iron/Steel — 0.0% (g)
Cleveland-Cliffs, Inc. (a)		14		221
Nucor Corp.		8		802
Steel Dynamics, Inc.		6		383


				1,406

Mining — 0.0% (g)
Alcoa Corp.		5		206
Freeport-McMoRan, Inc.		38		1,110
Newmont Corp.		20		1,187


				2,503

Total Basic Materials				18,797

Communications — 22.1%
Advertising — 0.1%
Interpublic Group of Cos., Inc. (The)		8		216
Omnicom Group, Inc.		4		282
Trade Desk, Inc. (The), Class A (a)		339		14,185


				14,683

Internet — 21.7%
Airbnb, Inc., Class A (a)		8		702
Alphabet, Inc., Class A (a)		327		712,651
Alphabet, Inc., Class C (a)		309		675,638
Amazon.com, Inc. (a)		11,500		1,221,450
Booking Holdings, Inc. (a)		1		1,808
CDW Corp.		3		472
Chewy, Inc., Class A (a)		114		3,974
DoorDash, Inc., Class A (a)		237		15,237
eBay, Inc.		738		30,754
Etsy, Inc. (a)		159		11,667
Expedia Group, Inc. (a)		3		331
F5, Inc. (a)		2		304


SECURITY DESCRIPTION	SHARES			VALUE($)

Internet — continued
GoDaddy, Inc., Class A (a)		3			230
IAC/InterActiveCorp. (a)		87			6,620
Lyft, Inc., Class A (a)		111			1,480
Marqeta, Inc., Class A (a)		240			1,947
Match Group, Inc. (a)		308			21,470
MercadoLibre, Inc., (Argentina) (a)		57			36,243
Meta Platforms, Inc., Class A (a)		2,511			404,837
Netflix, Inc. (a)		12			2,036
NortonLifeLock, Inc.		439			9,637
Okta, Inc., Class A (a)		4			377
Palo Alto Networks, Inc. (a)		75			37,048
Pinterest, Inc., Class A (a)		620			11,267
Roku, Inc., Class A (a)		3			282
Snap, Inc., Class A (a)		1,187			15,591
Twitter, Inc. (a)		870			32,520
Uber Technologies, Inc. (a)		543			11,115
VeriSign, Inc. (a)		2			340
Wayfair, Inc., Class A (a)		95			4,118
Zendesk, Inc. (a)		94			6,999
Zillow Group, Inc., Class C (a)		5			172


					3,279,317

Media — 0.2%
Cable One, Inc.		—	(h)		88
Charter Communications, Inc., Class A (a)		3			1,453
Comcast Corp., Class A		120			4,718
DISH Network Corp., Class A (a)		8			148
FactSet Research Systems, Inc.		21			8,046
Fox Corp., Class A		6			190
Fox Corp., Class B		8			248
Liberty Broadband Corp., Class C (a)		3			343
Liberty Global plc, (United Kingdom), Class A (a)		2			42
Liberty Global plc, (United Kingdom), Class C (a)		14			307
Liberty Media Corp.-Liberty Formula One, Class C (a)		4			237
Liberty Media Corp.-Liberty SiriusXM, Class A		2			83
Liberty Media Corp.-Liberty SiriusXM, Class C (a)		2			83
News Corp., Class A		13			196
Paramount Global, Class B		16			402
Sirius XM Holdings, Inc.		6			38
Walt Disney Co. (The) (a)		48			4,572
Warner Bros Discovery, Inc. (a)		62			828


					22,022

Telecommunications — 0.1%
Arista Networks, Inc. (a)		6			564
AT&T, Inc.		187			3,927
Cisco Systems, Inc.		110			4,708
Corning, Inc.		23			713
Juniper Networks, Inc.		8			234
Lumen Technologies, Inc.		21			230
Motorola Solutions, Inc.		4			861
T-Mobile US, Inc. (a)		16			2,178
Verizon Communications, Inc.		109			5,533


					18,948

Total Communications					3,334,970


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
Consumer Cyclical — 0.8%
Airlines — 0.0% (g)
Delta Air Lines, Inc. (a)		60			1,733
Southwest Airlines Co. (a)		60			2,149


					3,882

Apparel — 0.0% (g)
NIKE, Inc., Class B		33			3,403
VF Corp.		9			403


					3,806

Auto Manufacturers — 0.3%
Cummins, Inc.		53			10,285
Ford Motor Co.		106			1,178
General Motors Co. (a)		40			1,277
Lucid Group, Inc. (a)		10			173
PACCAR, Inc.		128			10,518
Rivian Automotive, Inc., Class A (a)		4			97
Tesla, Inc. (a)		22			15,128


					38,656

Auto Parts & Equipment — 0.0% (g)
Aptiv plc, (Ireland) (a)		7			648
BorgWarner, Inc.		5			160
Lear Corp.		2			205


					1,013

Distribution/Wholesale — 0.2%
Copart, Inc. (a)		79			8,565
Fastenal Co.		209			10,448
LKQ Corp.		8			392
Pool Corp.		1			274
WW Grainger, Inc.		17			7,618


					27,297

Entertainment — 0.0% (g)
AMC Entertainment Holdings, Inc., Class A (a)		13			182
Caesars Entertainment, Inc. (a)		5			177
Live Nation Entertainment, Inc. (a)		4			321
Vail Resorts, Inc.		1			313


					993

Food Service — 0.0% (g)
Aramark		7			215

Home Builders — 0.0% (g)
DR Horton, Inc.		10			633
Lennar Corp., Class A		7			492
NVR, Inc. (a)		—	(h)		256
PulteGroup, Inc.		6			236


					1,617

Home Furnishings — 0.0% (g)
Whirlpool Corp.		2			304

Housewares — 0.0% (g)
Newell Brands, Inc.		9			172


SECURITY DESCRIPTION	SHARES			VALUE($)

Leisure Time — 0.0% (g)
Carnival Corp. (a)		29			250
Peloton Interactive, Inc., Class A (a)		8			73
Royal Caribbean Cruises Ltd. (a)		6			216


					539

Lodging — 0.0% (g)
Hilton Worldwide Holdings, Inc.		7			730
Las Vegas Sands Corp. (a)		10			346
Marriott International, Inc., Class A		8			1,029
MGM Resorts International		13			374
Wynn Resorts Ltd. (a)		3			186


					2,665

Retail — 0.3%
Advance Auto Parts, Inc.		2			305
AutoZone, Inc. (a)		—	(h)		1,049
Bath & Body Works, Inc.		7			193
Best Buy Co., Inc.		7			458
Burlington Stores, Inc. (a)		2			260
CarMax, Inc. (a)		5			423
Carvana Co., Class A (a)		3			64
Chipotle Mexican Grill, Inc., Class A (a)		1			1,039
Costco Wholesale Corp.		12			5,523
Darden Restaurants, Inc.		4			492
Dollar General Corp.		6			1,507
Dollar Tree, Inc. (a)		6			919
Domino’s Pizza, Inc.		1			277
Genuine Parts Co.		3			454
Home Depot, Inc. (The)		27			7,301
Lowe’s Cos., Inc.		17			2,941
Lululemon Athletica, Inc., (Canada) (a)		3			831
McDonald’s Corp.		19			4,632
O’Reilly Automotive, Inc. (a)		2			1,023
Ross Stores, Inc.		10			709
Starbucks Corp.		31			2,387
Target Corp.		13			1,777
TJX Cos., Inc. (The)		32			1,770
Tractor Supply Co.		3			567
Ulta Beauty, Inc. (a)		1			505
Walgreens Boots Alliance, Inc.		23			861
Walmart, Inc.		40			4,922
Yum! Brands, Inc.		7			773


					43,962

Toys/Games/Hobbies — 0.0% (g)
Hasbro, Inc.		2			197

Total Consumer Cyclical					125,318

Consumer Non-cyclical — 30.6%
Agriculture — 0.1%
Altria Group, Inc.		45			1,879
Archer-Daniels-Midland Co.		15			1,126
Bunge Ltd.		4			365
Philip Morris International, Inc.		39			3,831


					7,201


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Beverages — 2.2%
Brown-Forman Corp., Class B		166		11,668
Coca-Cola Co. (The)		2,220		139,629
Constellation Brands, Inc., Class A		89		20,659
Keurig Dr Pepper, Inc.		418		14,795
Molson Coors Beverage Co., Class B		99		5,378
Monster Beverage Corp. (a)		215		19,890
PepsiCo., Inc.		746		124,338


				336,357

Biotechnology — 1.7%
Alnylam Pharmaceuticals, Inc. (a)		54		7,840
Amgen, Inc.		249		60,521
Biogen, Inc. (a)		66		13,495
BioMarin Pharmaceutical, Inc. (a)		83		6,839
Bio-Rad Laboratories, Inc., Class A (a)		17		8,549
Corteva, Inc.		19		1,034
Gilead Sciences, Inc.		562		34,747
Horizon Therapeutics Plc (a)		96		7,634
Illumina, Inc. (a)		119		21,949
Incyte Corp. (a)		84		6,408
Moderna, Inc. (a)		153		21,887
Regeneron Pharmaceuticals, Inc. (a)		48		28,200
Royalty Pharma plc, Class A		9		385
Seagen, Inc. (a)		62		10,947
Vertex Pharmaceuticals, Inc. (a)		114		32,079


				262,514

Commercial Services — 2.3%
Affirm Holdings, Inc., Class A (a)		131		2,359
AMERCO		4		1,722
Automatic Data Processing, Inc.		290		60,811
Block, Inc., Class A (a)		358		22,011
Booz Allen Hamilton Holding Corp., Class A		48		4,360
Cass Information Systems, Inc.		9		311
Cintas Corp.		35		12,941
Clarivate plc, (United Kingdom) (a)		117		1,618
CoStar Group, Inc. (a)		144		8,700
Equifax, Inc.		44		8,076
Euronet Worldwide, Inc. (a)		34		3,414
EVERTEC, Inc., (Puerto Rico)		42		1,540
Evo Payments, Inc., Class A (a)		31		733
FleetCor Technologies, Inc. (a)		53		11,097
Gartner, Inc. (a)		2		422
Global Payments, Inc.		195		21,560
I3 Verticals, Inc., Class A (a)		14		362
MarketAxess Holdings, Inc.		20		5,160
MoneyGram International, Inc. (a)		51		509
Moody’s Corp.		80		21,758
Paya Holdings, Inc. (a)		65		430
Paymentus Holdings, Inc., Class A (a)		12		157
Payoneer Global, Inc. (a)		133		520
PayPal Holdings, Inc. (a)		764		53,370
Quanta Services, Inc.		52		6,577
Remitly Global, Inc. (a)		55		422


SECURITY DESCRIPTION	SHARES		VALUE($)

Commercial Services — continued
Repay Holdings Corp., Class A (a)		54		695
Robert Half International, Inc.		40		3,021
Rollins, Inc.		79		2,764
S&P Global, Inc.		167		56,349
Sabre Corp. (a)		204		1,187
Shift4 Payments, Inc., Class A (a)		32		1,074
TransUnion		71		5,688
United Rentals, Inc. (a)		27		6,461
Verisk Analytics, Inc., Class A		59		10,254
WEX, Inc. (a)		30		4,604


				343,037

Cosmetics/Personal Care — 0.1%
Colgate-Palmolive Co.		19		1,551
Estee Lauder Cos., Inc. (The), Class A		6		1,617
Procter & Gamble Co. (The)		63		9,000


				12,168

Food — 0.1%
Campbell Soup Co.		5		227
Conagra Brands, Inc.		13		434
General Mills, Inc.		16		1,194
Hershey Co. (The)		3		724
Hormel Foods Corp.		7		332
J M Smucker Co. (The)		3		400
Kellogg Co.		6		395
Kraft Heinz Co. (The)		19		730
Kroger Co. (The)		18		830
McCormick & Co., Inc.		6		461
Mondelez International, Inc., Class A		38		2,381
Sysco Corp.		12		1,013
Tyson Foods, Inc., Class A		9		794


				9,915

Healthcare — Products — 2.5%
Abbott Laboratories		46		4,989
ABIOMED, Inc. (a)		1		245
Align Technology, Inc. (a)		2		500
Avantor, Inc. (a)		460		14,302
Baxter International, Inc.		12		760
Bio-Techne Corp.		30		10,267
Boston Scientific Corp. (a)		37		1,382
Cooper Cos., Inc. (The)		1		407
Danaher Corp.		515		130,530
DENTSPLY SIRONA, Inc.		7		260
Edwards Lifesciences Corp. (a)		16		1,484
Exact Sciences Corp. (a)		79		3,094
Henry Schein, Inc. (a)		4		279
Hologic, Inc. (a)		6		388
IDEXX Laboratories, Inc. (a)		2		704
Insulet Corp. (a)		2		327
Intuitive Surgical, Inc. (a)		10		1,922
Masimo Corp. (a)		1		193
Medtronic plc, (Ireland)		36		3,242


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Healthcare — Products — continued
Novocure Ltd., (Jersey) (a)		3		179
PerkinElmer, Inc.		95		13,558
ResMed, Inc.		4		762
STERIS plc		2		445
Stryker Corp.		8		1,677
Teleflex, Inc.		1		330
Thermo Fisher Scientific, Inc.		296		160,950
Waters Corp. (a)		46		15,090
West Pharmaceutical Services, Inc.		56		16,944
Zimmer Biomet Holdings, Inc.		6		656


				385,866

Healthcare — Services — 9.1%
Catalent, Inc. (a)		207		22,247
Centene Corp. (a)		1,053		89,108
Charles River Laboratories International, Inc. (a)		38		8,200
DaVita, Inc. (a)		1		70
Elevance Health, Inc.		434		209,428
HCA Healthcare, Inc.		6		962
Humana, Inc.		228		106,629
IQVIA Holdings, Inc. (a)		145		31,401
Laboratory Corp. of America Holdings		3		647
Molina Healthcare, Inc. (a)		105		29,466
Quest Diagnostics, Inc.		3		401
Teladoc Health, Inc. (a)		4		137
UnitedHealth Group, Inc.		1,690		867,874
Universal Health Services, Inc., Class B		2		233


				1,366,803

Household Products/Wares — 0.0% (g)
Avery Dennison Corp.		2		335
Church & Dwight Co., Inc.		6		519
Clorox Co. (The)		3		363
Kimberly-Clark Corp.		8		1,078


				2,295

Pharmaceuticals — 12.5%
AbbVie, Inc.		790		121,061
AmerisourceBergen Corp., Class A		4		497
Becton Dickinson and Co.		7		1,804
Bristol-Myers Squibb Co.		2,470		190,190
Cardinal Health, Inc.		6		294
Cigna Corp.		9		2,290
CVS Health Corp.		35		3,278
Dexcom, Inc. (a)		10		743
Elanco Animal Health, Inc. (a)		12		239
Eli Lilly & Co.		914		296,469
Jazz Pharmaceuticals plc, (Ireland) (a)		1		219
Johnson & Johnson		3,051		541,550
McKesson Corp.		4		1,193
Merck & Co., Inc.		2,932		267,272
Neurocrine Biosciences, Inc. (a)		42		4,136
Organon & Co.		290		9,796
Pfizer, Inc.		6,505		341,038


SECURITY DESCRIPTION	SHARES		VALUE($)

Pharmaceuticals — continued
Viatris, Inc.		1,405		14,715
Zoetis, Inc., Class A		545		93,762


				1,890,546

Total Consumer Non-cyclical				4,616,702

Energy — 0.3%
Energy — Alternate Sources — 0.1%
Enphase Energy, Inc. (a)		29		5,743
Plug Power, Inc. (a)		188		3,110
SolarEdge Technologies, Inc., (Israel) (a)		12		3,185


				12,038

Oil & Gas — 0.2%
APA Corp.		9		306
Chevron Corp.		51		7,352
ConocoPhillips		35		3,159
Coterra Energy, Inc.		19		491
Devon Energy Corp.		15		810
Diamondback Energy, Inc.		4		537
EOG Resources, Inc.		16		1,803
EQT Corp.		8		275
Exxon Mobil Corp.		110		9,451
Hess Corp.		7		749
Marathon Oil Corp.		18		405
Marathon Petroleum Corp.		16		1,306
Occidental Petroleum Corp.		24		1,404
Phillips 66		13		1,078
Pioneer Natural Resources Co.		6		1,331
Valero Energy Corp.		11		1,152


				31,609

Oil & Gas Services — 0.0% (g)
Baker Hughes Co., Class A		22		644
Halliburton Co.		23		707
Schlumberger NV		40		1,424


				2,775

Pipelines — 0.0% (g)
Cheniere Energy, Inc.		4		569
Kinder Morgan, Inc.		48		805
ONEOK, Inc.		10		561
Targa Resources Corp.		4		250
Williams Cos., Inc. (The)		29		904


				3,089

Total Energy				49,511

Financial — 13.4%
Banks — 3.9%
Bank of America Corp.		3,490		108,629
Bank of New York Mellon Corp. (The)		434		18,098
Citigroup, Inc.		993		45,659
Citizens Financial Group, Inc.		304		10,866
Fifth Third Bancorp		408		13,700
First Citizens BancShares, Inc., Class A		11		6,914


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Banks — continued
First Republic Bank		106		15,315
Goldman Sachs Group, Inc. (The)		169		50,145
Huntington Bancshares, Inc.		915		11,010
KeyCorp.		603		10,387
M&T Bank Corp.		104		16,649
Morgan Stanley		666		50,652
Northern Trust Corp.		122		11,781
PNC Financial Services Group, Inc. (The)		216		34,044
Regions Financial Corp.		595		11,147
Signature Bank		29		5,272
State Street Corp.		219		13,526
SVB Financial Group (a)		35		13,722
Truist Financial Corp.		692		32,804
US Bancorp		726		33,416
Webster Financial Corp.		87		3,647
Wells Fargo & Co.		1,861		72,876


				590,259

Diversified Financial Services — 5.0%
Ally Financial, Inc.		241		8,085
American Express Co.		302		41,815
Ameriprise Financial, Inc.		64		15,202
Apollo Global Management, Inc.		209		10,114
BlackRock, Inc., Class A		67		40,659
Bread Financial Holdings, Inc.		33		1,222
Capital One Financial Corp.		222		23,136
Cboe Global Markets, Inc.		51		5,809
Charles Schwab Corp. (The)		677		42,795
CME Group, Inc., Class A		168		34,370
Coinbase Global, Inc., Class A (a)		70		3,271
Discover Financial Services		165		15,632
Flywire Corp. (a)		20		354
Franklin Resources, Inc.		266		6,189
Intercontinental Exchange, Inc.		263		24,726
International Money Express, Inc. (a)		22		447
Invesco Ltd.		341		5,500
LPL Financial Holdings, Inc.		37		6,836
Mastercard, Inc., Class A		601		189,677
Nasdaq, Inc.		55		8,409
Raymond James Financial, Inc.		90		8,062
SEI Investments Co.		53		2,885
Synchrony Financial		345		9,526
T Rowe Price Group, Inc.		134		15,170
Tradeweb Markets, Inc., Class A		56		3,820
Upstart Holdings, Inc. (a)		30		958
Visa, Inc., Class A		1,144		225,154
Western Union Co. (The)		270		4,449


				754,272

Insurance — 4.0%
Aflac, Inc.		345		19,116
Alleghany Corp. (a)		7		5,447
Allstate Corp. (The)		156		19,802
American Financial Group, Inc.		57		7,979


SECURITY DESCRIPTION	SHARES		VALUE($)

Insurance — continued
American International Group, Inc.		441		22,569
Aon plc, Class A		100		26,867
Arch Capital Group Ltd., (Bermuda) (a)		218		9,929
Arthur J Gallagher & Co.		97		15,816
Assurant, Inc.		42		7,336
Berkshire Hathaway, Inc., Class B (a)		614		167,729
Brown & Brown, Inc.		111		6,457
Chubb Ltd., (Switzerland)		216		42,393
Cincinnati Financial Corp.		71		8,478
Equitable Holdings, Inc.		263		6,863
Erie Indemnity Co., Class A		11		2,190
Everest Re Group Ltd., (Bermuda)		30		8,415
Fidelity National Financial, Inc.		208		7,692
Globe Life, Inc.		78		7,585
Hartford Financial Services Group, Inc. (The)		202		13,224
Lincoln National Corp.		137		6,423
Loews Corp.		148		8,789
Markel Corp. (a)		7		8,609
Marsh & McLennan Cos., Inc.		234		36,395
MetLife, Inc.		381		23,912
Principal Financial Group, Inc.		167		11,151
Progressive Corp. (The)		301		35,017
Prudential Financial, Inc.		209		20,024
Travelers Cos., Inc. (The)		133		22,433
Willis Towers Watson plc, (United Kingdom)		72		14,149
WR Berkley Corp.		98		6,691


				599,480

Private Equity — 0.3%
Blackstone, Inc.		327		29,787
Carlyle Group, Inc. (The)		91		2,867
KKR & Co., Inc.		259		11,996


				44,650

Real Estate — 0.0% (g)
CBRE Group, Inc., Class A (a)		11		795

REITS — 0.2%
Alexandria Real Estate Equities, Inc.		4		586
American Homes 4 Rent, Class A		6		200
American Tower Corp.		12		2,973
Annaly Capital Management, Inc.		1,061		6,268
AvalonBay Communities, Inc.		4		866
Boston Properties, Inc.		4		315
Camden Property Trust		2		253
Crown Castle International Corp.		11		1,827
Digital Realty Trust, Inc.		8		1,015
Duke Realty Corp.		10		530
Equinix, Inc.		2		1,627
Equity LifeStyle Properties, Inc.		3		242
Equity Residential		11		777
Essex Property Trust, Inc.		2		424
Extra Space Storage, Inc.		3		496
Healthpeak Properties, Inc.		15		380
Host Hotels & Resorts, Inc.		20		317


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
REITS — continued
Invitation Homes, Inc.		16		559
Iron Mountain, Inc.		6		273
Kimco Realty Corp.		15		294
Medical Properties Trust, Inc.		10		154
Mid-America Apartment Communities, Inc.		3		473
Prologis, Inc.		20		2,300
Public Storage		4		1,184
Realty Income Corp.		15		991
Regency Centers Corp.		4		228
SBA Communications Corp., Class A		3		825
Simon Property Group, Inc.		9		826
Sun Communities, Inc.		3		500
UDR, Inc.		6		295
Ventas, Inc.		11		577
VICI Properties, Inc.		28		828
Vornado Realty Trust		5		145
Welltower, Inc.		12		996
Weyerhaeuser Co.		22		724
WP Carey, Inc.		4		325


				31,593

Total Financial				2,021,049

Industrial — 12.4%
Aerospace/Defense — 1.3%
Boeing Co. (The) (a)		205		28,008
General Dynamics Corp.		87		19,296
HEICO Corp.		16		2,045
HEICO Corp., Class A		27		2,881
Howmet Aerospace, Inc.		138		4,327
L3Harris Technologies, Inc.		71		17,162
Lockheed Martin Corp.		90		38,796
Northrop Grumman Corp.		55		26,143
Raytheon Technologies Corp.		551		52,969
Teledyne Technologies, Inc. (a)		1		387
TransDigm Group, Inc. (a)		19		10,366


				202,380

Building Materials — 0.3%
Carrier Global Corp.		315		11,220
Fortune Brands Home & Security, Inc.		50		2,979
Johnson Controls International plc		261		12,473
Lennox International, Inc.		12		2,467
Martin Marietta Materials, Inc.		2		534
Masco Corp.		87		4,387
Mohawk Industries, Inc. (a)		2		257
Owens Corning		36		2,689
Vulcan Materials Co.		4		530


				37,536

Electrical Components & Equipment — 0.3%
AMETEK, Inc.		86		9,450
Emerson Electric Co.		220		17,467
Generac Holdings, Inc. (a)		24		4,963


				31,880


SECURITY DESCRIPTION	SHARES		VALUE($)

Electronics — 0.7%
Agilent Technologies, Inc.		228		27,033
Allegion plc, (Ireland)		31		3,078
Amphenol Corp., Class A		14		925
Arrow Electronics, Inc. (a)		3		351
Fortive Corp.		126		6,841
Garmin Ltd., (Switzerland)		4		396
Honeywell International, Inc.		253		43,978
Keysight Technologies, Inc. (a)		5		691
Mettler-Toledo International, Inc. (a)		17		19,824
Sensata Technologies Holding plc		57		2,365
TE Connectivity Ltd.		9		1,066
Trimble, Inc. (a)		7		416


				106,964

Engineering & Construction — 0.0% (g)
Jacobs Engineering Group, Inc.		47		5,981

Environmental Control — 0.3%
Pentair plc, (United Kingdom)		60		2,751
Republic Services, Inc., Class A		82		10,674
Waste Connections, Inc.		95		11,768
Waste Management, Inc.		152		23,323


				48,516

Hand/Machine Tools — 0.1%
Snap-on, Inc.		19		3,762
Stanley Black & Decker, Inc.		61		6,413


				10,175

Machinery — Construction & Mining — 0.2%
Caterpillar, Inc.		197		35,258

Machinery — Diversified — 0.6%
Cognex Corp.		5		192
Deere & Co.		107		32,097
Dover Corp.		52		6,333
IDEX Corp.		28		5,061
Ingersoll Rand, Inc.		148		6,218
Nordson Corp.		19		3,831
Otis Worldwide Corp.		155		10,972
Rockwell Automation, Inc.		43		8,551
Westinghouse Air Brake Technologies Corp.		64		5,281
Xylem, Inc.		66		5,185


				83,721

Miscellaneous Manufacturers — 0.8%
3M Co.		212		27,371
AO Smith Corp.		47		2,545
Eaton Corp. plc		148		18,590
General Electric Co.		407		25,899
Illinois Tool Works, Inc.		115		20,903
Parker-Hannifin Corp.		47		11,630
Textron, Inc.		81		4,954
Trane Technologies plc, (Ireland)		87		11,255


				123,147


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Packaging & Containers — 0.0% (g)
Amcor plc, (United Kingdom)		32		403
Ball Corp.		9		633
Crown Holdings, Inc.		2		224
Packaging Corp. of America		2		284
Sealed Air Corp.		2		142
Westrock Co.		10		394


				2,080

Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc.		15		3,164

Transportation — 7.8%
CH Robinson Worldwide, Inc.		624		63,219
CSX Corp.		807		23,464
Expeditors International of Washington, Inc.		822		80,103
FedEx Corp.		1,174		266,131
JB Hunt Transport Services, Inc.		31		4,870
Knight-Swift Transportation Holdings, Inc., Class A		58		2,694
Norfolk Southern Corp.		89		20,127
Old Dominion Freight Line, Inc.		36		9,103
Union Pacific Corp.		234		49,988
United Parcel Service, Inc., Class B		3,599		656,896


				1,176,595

Total Industrial				1,867,397

Technology — 19.6%
Computers — 1.0%
Accenture plc, (Ireland), Class A		17		4,624
Apple, Inc.		418		57,191
Cantaloupe, Inc. (a)		35		196
Cognizant Technology Solutions Corp., Class A		15		988
Conduent, Inc. (a)		124		536
Crowdstrike Holdings, Inc., Class A (a)		151		25,446
Dell Technologies, Inc., Class C		9		427
EPAM Systems, Inc. (a)		1		436
ExlService Holdings, Inc. (a)		22		3,245
Fortinet, Inc. (a)		521		29,465
Hewlett Packard Enterprise Co.		43		575
HP, Inc.		27		875
International Business Machines Corp.		23		3,306
Leidos Holdings, Inc.		49		4,939
Maximus, Inc.		40		2,524
NetApp, Inc.		5		308
Seagate Technology Holdings plc		4		303
TaskUS, Inc., Class A (a)		15		261
TTEC Holdings, Inc.		13		898
Western Digital Corp. (a)		9		390
Zscaler, Inc. (a)		65		9,707


				146,640

Office/Business Equipment — 0.0% (g)
Zebra Technologies Corp., Class A (a)		1		439


SECURITY DESCRIPTION	SHARES		VALUE($)

Semiconductors — 2.5%
Advanced Micro Devices, Inc. (a)		361		27,622
Analog Devices, Inc.		116		16,916
Applied Materials, Inc.		196		17,819
Broadcom, Inc.		90		43,958
Entegris, Inc.		29		2,717
Intel Corp.		905		33,860
KLA Corp.		33		10,565
Lam Research Corp.		31		13,163
Marvell Technology, Inc.		186		8,109
Microchip Technology, Inc.		122		7,063
Micron Technology, Inc.		250		13,799
Monolithic Power Systems, Inc.		10		3,674
NVIDIA Corp.		553		83,846
NXP Semiconductors NV, (Netherlands)		58		8,522
ON Semiconductor Corp. (a)		95		4,787
Qorvo, Inc. (a)		25		2,350
QUALCOMM, Inc.		249		31,870
Skyworks Solutions, Inc.		37		3,415
Teradyne, Inc.		36		3,189
Texas Instruments, Inc.		204		31,318


				368,562

Software — 16.1%
Activision Blizzard, Inc.		20		1,574
Adobe, Inc. (a)		361		132,040
Akamai Technologies, Inc. (a)		4		395
ANSYS, Inc. (a)		66		15,910
AppLovin Corp., Class A (a)		88		3,017
Autodesk, Inc. (a)		167		28,733
Avalara, Inc. (a)		65		4,622
AvidXchange Holdings, Inc. (a)		33		200
Bentley Systems, Inc., Class B		144		4,790
Bill.com Holdings, Inc. (a)		71		7,785
Black Knight, Inc. (a)		120		7,842
Broadridge Financial Solutions, Inc.		80		11,356
Cadence Design Systems, Inc. (a)		210		31,554
Ceridian HCM Holding, Inc. (a)		107		5,031
Citrix Systems, Inc.		95		9,256
Cloudflare, Inc., Class A (a)		7		294
Concentrix Corp.		29		3,961
Coupa Software, Inc. (a)		57		3,258
CSG Systems International, Inc.		22		1,286
Datadog, Inc., Class A (a)		171		16,303
DocuSign, Inc., Class A (a)		153		8,751
Dropbox, Inc., Class A (a)		220		4,618
Dynatrace, Inc. (a)		152		6,014
Electronic Arts, Inc.		7		870
Fair Isaac Corp. (a)		20		7,991
Fidelity National Information Services, Inc.		421		38,630
Fiserv, Inc. (a)		428		38,048
Guidewire Software, Inc. (a)		59		4,196
HubSpot, Inc. (a)		35		10,508
Intuit, Inc.		205		79,115
Jack Henry & Associates, Inc.		50		8,966


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Software — continued
Microsoft Corp.		5,438		1,396,589
MongoDB, Inc., Class A (a)		2		392
MSCI, Inc., Class A		38		15,590
Oracle Corp.		1,224		85,495
Palantir Technologies, Inc., Class A (a)		1,274		11,552
Paychex, Inc.		223		25,387
Paycom Software, Inc. (a)		39		10,949
PTC, Inc. (a)		83		8,875
RingCentral, Inc., Class A (a)		62		3,263
ROBLOX Corp., Class A (a)		7		234
Roper Technologies, Inc.		81		31,870
Salesforce, Inc. (a)		753		124,326
ServiceNow, Inc. (a)		153		72,770
Snowflake, Inc., Class A (a)		6		822
Splunk, Inc. (a)		121		10,704
SS&C Technologies Holdings, Inc.		159		9,225
Synopsys, Inc. (a)		117		35,558
Take-Two Interactive Software, Inc. (a)		4		485
Twilio, Inc., Class A (a)		5		451
Tyler Technologies, Inc. (a)		32		10,510
Unity Software, Inc. (a)		142		5,236
Veeva Systems, Inc., Class A (a)		4		753
Verra Mobility Corp., Class A (a)		93		1,464
VMware, Inc., Class A		159		18,154
Workday, Inc., Class A (a)		150		20,909
Zoom Video Communications, Inc., Class A (a)		166		17,895
ZoomInfo Technologies, Inc., Class A (a)		282		9,374


				2,425,746

Total Technology				2,941,387

Utilities — 0.2%
Electric — 0.2%
AES Corp. (The)		14		304
Alliant Energy Corp.		5		306
Ameren Corp.		6		514
American Electric Power Co., Inc.		14		1,336
CenterPoint Energy, Inc.		16		485
CMS Energy Corp.		6		412
Consolidated Edison, Inc.		9		823
Constellation Energy Corp.		11		610
Dominion Energy, Inc.		23		1,813
DTE Energy Co.		4		551
Duke Energy Corp.		21		2,287
Edison International		9		576
Entergy Corp.		5		572
Evergy, Inc.		5		316
Eversource Energy		9		734
Exelon Corp.		28		1,272
FirstEnergy Corp.		12		455
NextEra Energy, Inc.		52		4,019
NRG Energy, Inc.		7		267
PG&E Corp. (a)		42		414
PPL Corp.		18		488


SECURITY DESCRIPTION	SHARES			VALUE($)

Electric — continued
Public Service Enterprise Group, Inc.		12			733
Sempra Energy		8			1,261
Southern Co. (The)		28			1,969
Vistra Corp.		10			228
WEC Energy Group, Inc.		8			780
Xcel Energy, Inc.		15			1,054


					24,579

Gas — 0.0% (g)
Atmos Energy Corp.		3			313
NiSource, Inc.		8			222
UGI Corp.		8			298


					833

Water — 0.0% (g)
American Water Works Co., Inc.		5			751
Essential Utilities, Inc.		4			206


					957

Total Utilities					26,369

Total Common Stocks (Cost $13,998,461)					15,001,500


	PRINCIPAL AMOUNT($)
Short-Term Investments — 0.5%
Time Deposits — 0.5%
Barclays SA, 0.91%, 07/01/2022		21,793			21,793
Citibank NA, 0.91%, 07/01/2022		44,934			44,934
Royal Bank of Canada, 0.91%, 07/01/2022		—	(h)		—	(h)
Sumitomo Mitsui Banking Corp., 0.91%, 07/01/2022		15,331			15,331
Sumitomo Mitsui Trust Bank Ltd., 0.91%, 07/01/2022		—	(h)		—	(h)

Total Short-Term Investments (Cost $82,058)					82,058


Total Investments — 100.0% (Cost — $14,080,519) *					15,083,558

Liabilities in Excess of Other Assets — 0.0% (g)					(1,129	)


NET ASSETS — 100.0%				$	15,082,429

Percentages indicated are based on net assets

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JUNE 30, 2022


REIT		— Real Estate Investment Trust
(a)		— Non-income producing security.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
*		— The cost of securities is substantially the same for federal income tax purposes.
USD		— United States Dollar

Summary of Investments by Industry, June 30, 2022

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Internet		21.7	%

Software		16.1	%

Pharmaceuticals		12.5	%

Healthcare — Services		9.1	%

Transportation		7.8	%

Diversified Financial Services		5.0	%

Insurance		4.0	%

Banks		3.9	%

Healthcare — Products		2.5	%

Semiconductors		2.5	%

Commercial Services		2.3	%

Beverages		2.2	%

Biotechnology		1.7	%

Aerospace/Defense		1.3	%

Others (Each less than 1.0%)		6.9	%

Short-Term Investments		0.5	%


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — 97.0%
Austria — 0.3%
Erste Group Bank AG		464		11,797
OMV AG		205		9,645
Verbund AG		77		7,548
voestalpine AG		76		1,617


				30,607

Belgium — 1.0%
Ageas SA		221		9,761
Anheuser-Busch InBev SA		594		31,984
D’ieteren Group		17		2,505
Elia Group SA		38		5,412
Groupe Bruxelles Lambert SA		141		11,786
KBC Group NV		339		19,090
Proximus SADP		115		1,693
Sofina SA		21		4,259
Solvay SA		51		4,131
UCB SA		266		22,575
Umicore SA		142		4,976
Warehouses De Pauw CVA		111		3,497


				121,669

Chile — 0.0% (g)
Antofagasta plc		161		2,269

Denmark — 4.9%
AP Moller — Maersk A/S, Class A		3		6,559
AP Moller — Maersk A/S, Class B		6		13,689
Carlsberg A/S, Class B		69		8,796
Chr Hansen Holding A/S		73		5,320
Coloplast A/S, Class B		82		9,335
Danske Bank A/S		930		13,239
Demant A/S (a)		67		2,534
DSV A/S		196		27,520
Genmab A/S (a)		45		14,467
GN Store Nord A/S		89		3,125
Novo Nordisk A/S, Class B		3,552		393,941
Novozymes A/S, Class B		140		8,416
Orsted A/S (e)		213		22,447
Pandora A/S		153		9,700
ROCKWOOL A/S, Class B		9		1,992
Tryg A/S		502		11,301
Vestas Wind Systems A/S		1,039		22,087


				574,468

Finland — 1.4%
Elisa OYJ		103		5,796
Fortum OYJ		501		7,576
Kesko OYJ, Class B		186		4,399
Kone OYJ, Class B		348		16,618
Neste OYJ		289		12,870
Nokia OYJ		3,723		17,255
Nordea Bank Abp		4,528		40,002
Orion OYJ, Class B		225		10,084
Sampo OYJ, Class A		682		29,813
Stora Enso OYJ, Class R		374		5,921


SECURITY DESCRIPTION	SHARES		VALUE($)

Finland — continued
UPM-Kymmene OYJ		360		11,030
Wartsila OYJ Abp		480		3,763


				165,127

France — 15.6%
Accor SA (a)		115		3,144
Aeroports de Paris (a)		30		3,765
Air Liquide SA		359		48,326
Airbus SE		604		59,123
Alstom SA		323		7,370
Amundi SA (e)		83		4,593
Arkema SA		40		3,577
AXA SA		2,626		59,976
BioMerieux		28		2,758
BNP Paribas SA		1,510		72,213
Bollore SE		584		2,721
Bouygues SA		237		7,309
Bureau Veritas SA		305		7,858
Capgemini SE		113		19,456
Carrefour SA		423		7,507
Cie de Saint-Gobain		507		21,915
Cie Generale des Etablissements Michelin SCA		462		12,628
Covivio		34		1,872
Credit Agricole SA		1,681		15,499
Danone SA		1,322		74,058
Dassault Aviation SA		26		4,020
Dassault Systemes SE		458		16,978
Edenred		171		8,080
Eiffage SA		86		7,778
Electricite de France SA		637		5,231
Engie SA		2,064		23,896
EssilorLuxottica SA		460		69,727
Eurazeo SE		62		3,827
Gecina SA		34		3,153
Getlink SE		450		7,983
Hermes International		51		57,051
Ipsen SA		79		7,469
Kering SA		119		61,868
Klepierre SA (a)		147		2,840
La Francaise des Jeux SAEM (e)		75		2,621
Legrand SA		275		20,425
L’Oreal SA		164		57,030
LVMH Moet Hennessy Louis Vuitton SE		443		271,594
Orange SA		1,364		16,069
Pernod Ricard SA		143		26,375
Publicis Groupe SA (a)		155		7,598
Remy Cointreau SA		16		2,807
Renault SA (a)		737		18,599
Safran SA		349		34,780
Sanofi		2,400		242,044
Sartorius Stedim Biotech		19		5,884
Schneider Electric SE		555		66,174
SEB SA		17		1,652
Societe Generale SA		1,084		23,967


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
France — continued
Sodexo SA		59		4,200
Teleperformance		60		18,624
Thales SA		111		13,613
TotalEnergies SE		3,452		181,701
Ubisoft Entertainment SA (a)		64		2,801
Unibail—Rodamco-Westfield (a)		81		4,103
Valeo		138		2,692
Veolia Environnement SA (a)		759		18,602
Vinci SA		546		49,041
Vivendi SE		492		5,026
Wendel SE		36		3,023
Worldline SA (a) (e)		160		5,985


				1,822,599

Germany — 11.5%
adidas AG		277		49,222
Allianz SE (Registered)		557		106,706
BASF SE		631		27,602
Bayer AG (Registered)		2,073		123,805
Bayerische Motoren Werke AG		1,291		100,064
Bechtle AG		55		2,243
Beiersdorf AG		71		7,305
Brenntag SE		160		10,458
Carl Zeiss Meditec AG		27		3,303
Commerzbank AG (a)		1,433		10,169
Continental AG		76		5,326
Covestro AG (e)		132		4,600
Daimler Truck Holding AG (a)		469		12,354
Delivery Hero SE (a) (e)		110		4,154
Deutsche Bank AG (Registered)		2,820		24,785
Deutsche Boerse AG		258		43,295
Deutsche Lufthansa AG (Registered) (a)		608		3,583
Deutsche Post AG (Registered)		1,019		38,479
Deutsche Telekom AG (Registered)		2,224		44,238
E.ON SE		2,543		21,424
Evonik Industries AG		155		3,316
Fresenius Medical Care AG & Co. KGaA		143		7,144
Fresenius SE & Co. KGaA		291		8,862
GEA Group AG		155		5,380
Hannover Rueck SE		82		11,926
HeidelbergCement AG		99		4,782
HelloFresh SE (a)		112		3,657
Henkel AG & Co. KGaA		56		3,412
Infineon Technologies AG		3,506		85,293
KION Group AG		73		3,061
Knorr-Bremse AG		75		4,289
LEG Immobilien SE		50		4,180
Mercedes-Benz Group AG		3,087		179,289
Merck KGaA		273		46,230
MTU Aero Engines AG		55		10,037
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		190		45,029
Nemetschek SE		39		2,343
Puma SE		169		11,213


SECURITY DESCRIPTION	SHARES		VALUE($)

Germany — continued
Rational AG		5		3,019
Rheinmetall AG		45		10,290
RWE AG		727		26,883
SAP SE		717		65,341
Scout24 SE (e)		55		2,828
Siemens AG (Registered)		785		80,729
Siemens Energy AG		443		6,534
Siemens Healthineers AG (e)		194		9,882
Symrise AG, Class A		91		9,905
Telefonica Deutschland Holding AG		780		2,251
Uniper SE		104		1,555
United Internet AG (Registered)		67		1,918
Volkswagen AG		112		20,465
Vonovia SE		476		14,713
Zalando SE (a) (e)		149		3,932


				1,342,803

Ireland — 0.9%
AerCap Holdings NV (a)		136		5,563
CRH plc		519		17,919
DCC plc		73		4,546
Experian plc		687		20,166
Flutter Entertainment plc (a)		115		11,640
Kerry Group plc, Class A		321		30,742
Kingspan Group plc		157		9,444
Smurfit Kappa Group plc		167		5,636


				105,656

Italy — 3.3%
Amplifon SpA		84		2,587
Assicurazioni Generali SpA		1,498		23,922
Atlantia SpA		510		11,972
Davide Campari-Milano NV		359		3,782
DiaSorin SpA		17		2,251
Enel SpA		9,219		50,558
Eni SpA		3,537		41,953
Ferrari NV		485		89,169
FinecoBank Banca Fineco SpA		819		9,826
Infrastrutture Wireless Italiane SpA (e)		250		2,543
Intesa Sanpaolo SpA		22,371		41,867
Mediobanca Banca di Credito Finanziario SpA		828		7,185
Moncler SpA		324		13,944
Nexi SpA (a) (e)		369		3,067
Poste Italiane SpA (e)		702		6,568
Prysmian SpA		256		7,043
Recordati Industria Chimica e Farmaceutica SpA		221		9,633
Snam SpA		2,383		12,500
Telecom Italia SpA (a)		6,748		1,769
Terna — Rete Elettrica Nazionale		1,646		12,944
UniCredit SpA		2,870		27,431


				382,514

Japan — 2.5%
Casio Computer Co. Ltd.		442		4,104
Nikon Corp.		689		7,946
Panasonic Holdings Corp.		5,028		40,597


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Japan — continued
Sharp Corp.		557		4,311
Sony Group Corp.		2,871		234,158
Tamron Co. Ltd.		37		684


				291,800

Jordan — 0.1%
Hikma Pharmaceuticals plc		320		6,309

Luxembourg — 0.2%
ArcelorMittal SA		414		9,287
Aroundtown SA		684		2,186
Eurofins Scientific SE		92		7,251
Tenaris SA		325		4,180


				22,904

Netherlands — 8.4%
ABN AMRO Bank NV, CVA, GDR (e)		576		6,468
Adyen NV (a) (e)		15		21,354
Aegon NV		2,427		10,453
Akzo Nobel NV		124		8,137
Argenx SE (a)		33		12,268
ASM International NV		126		31,292
ASML Holding NV		1,092		516,114
Euronext NV (e)		115		9,398
EXOR NV		146		9,141
Heineken Holding NV		73		5,292
Heineken NV		179		16,296
IMCD NV		58		7,978
ING Groep NV		5,318		52,389
JDE Peet’s NV		203		5,789
Just Eat Takeaway.com NV (a) (e)		121		1,901
Koninklijke Ahold Delhaize NV		716		18,631
Koninklijke DSM NV		119		17,114
Koninklijke KPN NV		2,371		8,435
Koninklijke Philips NV		613		13,148
NN Group NV		394		17,850
OCI NV		71		2,335
Prosus NV (a)		564		36,505
QIAGEN NV (a)		159		7,497
Randstad NV		124		5,977
Stellantis NV		8,446		104,853
Universal Music Group NV		493		9,884
Wolters Kluwer NV		269		26,099


				982,598

Norway — 1.3%
Adevinta ASA, Class B (a)		200		1,474
Aker BP ASA		217		7,499
DNB Bank ASA		1,263		22,856
Equinor ASA		1,363		47,507
Gjensidige Forsikring ASA		269		5,483
Kongsberg Gruppen ASA		92		3,303
Mowi ASA		836		19,121
Norsk Hydro ASA		911		5,147
Orkla ASA		1,542		12,353


SECURITY DESCRIPTION	SHARES		VALUE($)

Norway — continued
Salmar ASA		122		8,616
Telenor ASA		490		6,549
Yara International ASA		114		4,788


				144,696

Portugal — 0.2%
EDP — Energias de Portugal SA		3,124		14,558
Galp Energia SGPS SA		733		8,582
Jeronimo Martins SGPS SA		194		4,206


				27,346

South Korea — 2.0%
Samsung Electronics Co. Ltd.		4,535		200,042
Samsung Electronics Co. Ltd. (Registered), GDR		33		35,194


				235,236

Spain — 3.2%
Acciona SA		30		5,595
ACS Actividades de Construccion y Servicios SA		236		5,749
Aena SME SA (a) (e)		78		10,005
Amadeus IT Group SA (a)		309		17,295
Banco Bilbao Vizcaya Argentaria SA		9,085		41,271
Banco Santander SA		23,632		66,864
CaixaBank SA		6,054		21,202
Cellnex Telecom SA (e)		378		14,727
EDP Renovaveis SA		324		7,660
Enagas SA		100		2,205
Endesa SA		408		7,725
Ferrovial SA		518		13,175
Grifols SA (a)		216		4,091
Iberdrola SA		6,614		68,860
Industria de Diseno Textil SA		756		17,170
Naturgy Energy Group SA		177		5,102
Red Electrica Corp. SA		275		5,197
Repsol SA		2,066		30,462
Siemens Gamesa Renewable Energy SA (a)		248		4,667
Telefonica SA		3,680		18,789


				367,811

Sweden — 3.7%
Alfa Laval AB		302		7,316
Assa Abloy AB, Class B		1,026		21,898
Atlas Copco AB, Class A		2,813		26,326
Atlas Copco AB, Class B		1,529		12,814
Boliden AB		186		5,962
Electrolux AB, Class B		158		2,129
Embracer Group AB, Class B (a)		429		3,298
Epiroc AB, Class A		692		10,728
Epiroc AB, Class B		371		5,034
EQT AB		400		8,217
Essity AB, Class B		418		10,927
Evolution AB (e)		125		11,391
Fastighets AB Balder, Class B (a)		353		1,692
Getinge AB, Class B		157		3,642
H & M Hennes & Mauritz AB, Class B		499		5,986


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
Sweden — continued
Hexagon AB, Class B		1,325			13,847
Holmen AB, Class B		69			2,799
Husqvarna AB, Class B		429			3,163
Industrivarden AB, Class A		158			3,567
Industrivarden AB, Class C		226			5,045
Indutrade AB		289			5,295
Investment AB Latour, Class B		149			2,957
Investor AB, Class A		608			10,956
Investor AB, Class B		2,563			42,273
Kinnevik AB, Class B (a)		329			5,323
L E Lundbergforetagen AB, Class B		106			4,327
Lifco AB, Class B		234			3,779
Nibe Industrier AB, Class B		1,544			11,638
Sagax AB, Class B		127			2,360
Sandvik AB		1,092			17,804
Securitas AB, Class B		325			2,806
Sinch AB (a) (e)		380			1,241
Skandinaviska Enskilda Banken AB, Class A		2,205			21,721
Skanska AB, Class B		348			5,358
SKF AB, Class B		393			5,835
Svenska Cellulosa AB SCA, Class B		413			6,211
Svenska Handelsbanken AB, Class A		1,984			17,032
Swedbank AB, Class A		1,230			15,603
Swedish Match AB		1,083			11,047
Swedish Orphan Biovitrum AB (a)		115			2,500
Tele2 AB, Class B		384			4,378
Telefonaktiebolaget LM Ericsson, Class B		1,986			14,833
Telia Co. AB		1,889			7,252
Volvo AB, Class A		135			2,189
Volvo AB, Class B		1,630			25,369
Volvo Car AB, Class B (a)		2,289			15,211


					431,079

Switzerland — 20.7%
ABB Ltd. (Registered)		1,689			45,285
Adecco Group AG (Registered)		165			5,630
Alcon, Inc.		341			23,897
Bachem Holding AG (Registered), Class B		21			1,440
Baloise Holding AG (Registered)		63			10,242
Barry Callebaut AG (Registered)		7			16,318
Chocoladefabriken Lindt & Spruengli AG		2			22,665
Chocoladefabriken Lindt & Spruengli AG (Registered)		—	(h)		21,915
Cie Financiere Richemont SA (Registered), Class A		834			89,715
Clariant AG (Registered) (a)		158			3,019
Coca-Cola HBC AG (a)		82			1,823
Credit Suisse Group AG (Registered)		3,574			20,402
EMS-Chemie Holding AG (Registered)		5			3,564
Geberit AG (Registered)		38			18,045
Givaudan SA (Registered)		6			22,237
Glencore plc		3,993			21,625
Holcim AG (a)		382			16,365
Julius Baer Group Ltd.		297			13,759


SECURITY DESCRIPTION	SHARES		VALUE($)

Switzerland — continued
Kuehne + Nagel International AG (Registered)		56		13,206
Logitech International SA (Registered)		118		6,137
Lonza Group AG (Registered)		51		27,300
Nestle SA (Registered)		5,694		665,490
Novartis AG (Registered)		4,627		392,279
Partners Group Holding AG		31		27,779
Roche Holding AG		1,539		517,114
Schindler Holding AG		48		8,851
Schindler Holding AG (Registered)		18		3,316
SGS SA (Registered)		7		15,462
Sika AG (Registered)		100		23,086
Sonova Holding AG (Registered)		37		11,719
STMicroelectronics NV		1,842		58,242
Straumann Holding AG (Registered)		77		9,305
Swatch Group AG (The)		49		11,688
Swatch Group AG (The) (Registered)		67		2,982
Swiss Life Holding AG (Registered)		43		20,955
Swiss Prime Site AG (Registered)		55		4,842
Swiss Re AG		409		31,775
Swisscom AG (Registered)		18		9,994
Temenos AG (Registered)		43		3,722
UBS Group AG (Registered)		4,775		77,193
VAT Group AG (e)		28		6,596
Vifor Pharma AG		96		16,597
Zurich Insurance Group AG		204		89,161


				2,412,737

United Arab Emirates — 0.0%
NMC Health plc (a) (bb) (cc)		116		—

United Kingdom — 15.8%
3i Group plc		1,048		14,205
abrdn plc		2,202		4,297
Admiral Group plc		195		5,326
Anglo American plc		513		18,347
Ashtead Group plc		331		13,938
Associated British Foods plc		623		12,025
AstraZeneca plc		2,833		373,775
Auto Trader Group plc (e)		380		2,573
AVEVA Group plc		49		1,344
Aviva plc		3,063		15,001
BAE Systems plc		2,345		23,736
Barclays plc		18,069		33,789
Barratt Developments plc		409		2,290
Berkeley Group Holdings plc (a)		45		2,050
BP plc		21,621		101,523
British American Tobacco plc		879		37,677
British Land Co. plc (The)		354		1,934
BT Group plc		2,811		6,389
Bunzl plc		250		8,315
Burberry Group plc		527		10,568
CNH Industrial NV		1,040		12,027
Coca-Cola Europacific Partners plc		144		7,444
Compass Group plc		720		14,790
Croda International plc		56		4,422
Diageo plc		935		40,378


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
United Kingdom — continued
Entain plc (a)		236		3,591
Ferguson plc		163		18,245
GSK plc		9,296		200,343
Halma plc		153		3,746
Hargreaves Lansdown plc		385		3,719
HSBC Holdings plc		21,850		142,738
Imperial Brands plc		365		8,164
Informa plc (a)		604		3,905
InterContinental Hotels Group plc		74		3,955
Intertek Group plc		120		6,173
J Sainsbury plc		704		1,751
JD Sports Fashion plc (a)		1,048		1,476
Johnson Matthey plc		78		1,837
Kingfisher plc		836		2,499
Land Securities Group plc		282		2,289
Legal & General Group plc		6,442		18,832
Lloyds Banking Group plc		76,594		39,408
London Stock Exchange Group plc		355		33,128
M&G plc		2,796		6,629
Melrose Industries plc		3,267		5,993
Mondi plc		196		3,480
National Grid plc		1,472		18,912
NatWest Group plc		6,056		16,120
Next plc		54		3,824
Ocado Group plc (a)		233		2,218
Pearson plc		274		2,507
Persimmon plc		129		2,939
Phoenix Group Holdings plc		804		5,789
Prudential plc		2,963		36,859
Reckitt Benckiser Group plc		289		21,707
RELX plc		1,440		39,103
Rentokil Initial plc		1,381		8,006
Rio Tinto plc		454		27,117
Rolls-Royce Holdings plc (a)		6,234		6,344
Sage Group plc (The)		413		3,200
Schroders plc		135		4,407
Segro plc		485		5,796
Severn Trent plc		101		3,355
Shell plc (a)		8,448		220,010
Smith & Nephew plc		355		4,966
Smiths Group plc		290		4,964
Spirax-Sarco Engineering plc		55		6,609
SSE plc		430		8,494
St James’s Place plc		583		7,851
Standard Chartered plc		2,813		21,237
Taylor Wimpey plc		1,464		2,086
Tesco plc		3,084		9,612
Unilever plc		1,034		47,128
United Utilities Group plc		275		3,421
Vodafone Group plc		10,877		16,912
Whitbread plc		81		2,453
WPP plc		467		4,721


				1,848,731

Total Common Stocks (Cost $12,457,362)				11,318,959


SECURITY DESCRIPTION	SHARES			VALUE($)
Preferred Stocks — 1.7%
Germany — 1.4%
Bayerische Motoren Werke AG		205			14,648
Henkel AG & Co. KGaA		135			8,358
Porsche Automobil Holding SE		589			39,193
Sartorius AG		17			5,843
Volkswagen AG		717			96,598


					164,640

South Korea — 0.3%
Samsung Electronics Co. Ltd.		783			31,492

Total Preferred Stocks (Cost $258,641)					196,132


	PRINCIPAL AMOUNT($)
Short-Term Investments — 0.6%
Time Deposits — 0.6%
Barclays SA, 0.91%, 07/01/2022		542			542
BNP Paribas SA,
(1.20%), 07/01/2022	CHF	6,797			7,120
0.52%, 07/01/2022	GBP	12,325			15,003
Brown Brothers Harriman,
(1.20%), 07/01/2022	CHF	—	(h)		—	(h)
(0.78%), 07/01/2022	EUR	—	(h)		—	(h)
(0.73%), 07/01/2022	DKK	3,726			525
0.01%, 07/01/2022	SEK	—	(h)		—	(h)
0.07%, 07/01/2022	NOK	12,422			1,261
0.37%, 07/04/2022	HKD	—	(h)		—	(h)
0.51%, 07/04/2022	CAD	—	(h)		—	(h)
0.52%, 07/01/2022	GBP	—	(h)		—	(h)
0.91%, 07/01/2022		—	(h)		—	(h)
3.60%, 07/01/2022	ZAR	—	(h)		—	(h)
Citibank NA,
(0.78%), 07/01/2022	EUR	23,000			24,103
0.91%, 07/01/2022		17,708			17,708
Royal Bank of Canada, 0.91%, 07/01/2022		1,521			1,521
Skandinaviska Enskilda Banken AB, 0.01%, 07/01/2022	SEK	13,450			1,315
Sumitomo Mitsui Banking Corp.,
(0.36%), 07/01/2022	JPY	385,676			2,843
0.91%, 07/01/2022		372			372

Total Short-Term Investments (Cost $72,313)					72,313


Total Investments — 99.3% (Cost — $12,788,316)*					11,587,404

Other Assets in Excess of Liabilities — 0.7%					76,458


NET ASSETS — 100.0%				$	11,663,862

Percentages indicated are based on net assets

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JUNE 30, 2022


CVA		— Dutch Certification
GDR		— Global Depositary Receipt
(a)		— Non-income producing security.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
*		— The cost of securities is substantially the same for federal income tax purposes.
CAD		— Canadian Dollar
CHF		— Swiss Franc
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
HKD		— Hong Kong Dollar
JPY		— Japanese Yen
NOK		— Norwegian Krone
SEK		— Swedish Krona
USD		— United States Dollar
ZAR		— South African Rand

Summary of Investments by Industry, June 30, 2022

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Pharmaceuticals		20.4	%

Semiconductors		8.3	%

Food		8.1	%

Banks		8.0	%

Auto Manufacturers		6.2	%

Oil & Gas		5.8	%

Insurance		4.9	%

Apparel		4.0	%

Electric		2.7	%

Home Furnishings		2.5	%

Chemicals		1.7	%

Commercial Services		1.7	%

Telecommunications		1.6	%

Healthcare — Products		1.6	%

Aerospace/Defense		1.4	%

Retail		1.4	%

Beverages		1.3	%

Electrical Components & Equipment		1.2	%

Diversified Financial Services		1.1	%

Building Materials		1.1	%

Engineering & Construction		1.1	%

Cosmetics/Personal Care		1.1	%

Miscellaneous Manufacturers		1.0	%

Others (Each less than 1.0%)		11.2	%

Short-Term Investments		0.6	%


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — 107.0%
Asset-Backed Securities — 1.0%
American Express Credit Account Master Trust, Series 2019-3, Class A, 2.00%, 04/15/2025		615		615
Anchorage Capital CLO 11 Ltd., (Cayman Islands), Series 2019-11A, Class AR, (ICE LIBOR USD 3 Month + 1.14%), 2.28%, 07/22/2032 (e) (aa)		1,900		1,844
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (ICE LIBOR USD 3 Month + 1.05%), 2.09%, 01/15/2032 (e) (aa)		3,300		3,209
Atlas Senior Loan Fund Ltd., (Cayman Islands), Series 2017-8A, Class A, (ICE LIBOR USD 3 Month + 1.15%), 2.19%, 01/16/2030 (e) (aa)		5,189		5,123
Benefit Street Partners CLO XVII Ltd., (Cayman Islands), Series 2019-17A, Class AR, (ICE LIBOR USD 3 Month + 1.08%), 2.12%, 07/15/2032 (e) (aa)		4,300		4,209
Capital One Multi-Asset Execution Trust, Series 2019-A2, Class A2, 1.72%, 08/15/2024		500		500
CARLYLE US CLO Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (ICE LIBOR USD 3 Month + 1.00%), 2.06%, 04/20/2031 (e) (aa)		1,900		1,860
Carmax Auto Owner Trust, Series 2020-1, Class A3, 1.89%, 12/16/2024		176		175
CIFC Funding Ltd., (Cayman Islands), Series 2017-4A, Class A1R, (ICE LIBOR USD 3 Month + 0.95%), 2.13%, 10/24/2030 (e) (aa)		3,200		3,141
Crestline Denali CLO XV Ltd., (Cayman Islands), Series 2017-1A, Class AR, (ICE LIBOR USD 3 Month + 1.03%), 2.09%, 04/20/2030 (e) (aa)		5,900		5,800
Dryden 36 Senior Loan Fund, (Cayman Islands), Series 2014-36A, Class AR3, (ICE LIBOR USD 3 Month + 1.02%), 2.06%, 04/15/2029 (e) (aa)		6,030		5,934
Dryden 27 R Euro CLO 2017 DAC, (Ireland), Series 2017-27A, Class AR, (ICE LIBOR EUR 3 Month + 0.66%), 0.66%, 04/15/2033 (e) (aa)	EUR	7,600		7,726
Ford Credit Auto Owner Trust, Series 2020-B, Class A4, 0.79%, 11/15/2025		850		819
GM Financial Consumer Automobile Receivables Trust, Series 2020-2, Class A4, 1.74%, 08/18/2025		500		486
Hyundai Auto Receivables Trust, Series 2020-A, Class A3, 1.41%, 11/15/2024		89		88
Madison Park Funding XXVI Ltd., (Cayman Islands), Series 2017-26A, Class AR, (ICE LIBOR USD 3 Month + 1.20%), 2.44%, 07/29/2030 (e) (aa)		2,360		2,329


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Magnetite XVIII Ltd., (Cayman Islands), Series 2016-18A, Class AR2, (ICE LIBOR USD 3 Month + 0.88%), 2.29%, 11/15/2028 (e) (aa)		7,493		7,396
Marathon CLO IX Ltd., (Cayman Islands), Series 2017-9A, Class A1AR, (ICE LIBOR USD 3 Month + 1.15%), 2.19%, 04/15/2029 (e) (aa)		283		279
Marble Point CLO X Ltd., (Cayman Islands), Series 2017-1A, Class AR, (ICE LIBOR USD 3 Month + 1.04%), 2.08%, 10/15/2030 (e) (aa)		1,800		1,769
Mountain View CLO LLC, (Cayman Islands),
Series 2017-1A, Class AR, (ICE LIBOR USD 3 Month + 1.09%), 2.13%, 10/16/2029 (e) (aa)		1,747		1,721
Series 2017-2A, Class AR, (ICE LIBOR USD 3 Month + 1.04%), 2.08%, 01/16/2031 (e) (aa)		2,900		2,838
Nissan Auto Receivables Owner Trust, Series 2020-A, Class A3, 1.38%, 12/16/2024		77		77
OCP CLO Ltd., (Cayman Islands), Series 2017-14A, Class A1A, (ICE LIBOR USD 3 Month + 1.15%), 2.63%, 11/20/2030 (e) (aa)		5,000		4,931
Sculptor CLO XXV Ltd., (Cayman Islands), Series 25A, Class A1, (ICE LIBOR USD 3 Month + 1.27%), 2.31%, 01/15/2031 (e) (aa)		1,200		1,171
Sound Point CLO XII Ltd., (Cayman Islands), Series 2016-2A, Class AR2, (ICE LIBOR USD 3 Month + 1.05%), 2.11%, 10/20/2028 (e) (aa)		73		71
Venture 33 CLO Ltd., (Cayman Islands), Series 2018-33A, Class A1LR, (ICE LIBOR USD 3 Month + 1.06%), 2.10%, 07/15/2031 (e) (aa)		700		686
Venture XXI CLO Ltd., (Cayman Islands), Series 2015-21A, Class AR, (ICE LIBOR USD 3 Month + 0.88%), 1.92%, 07/15/2027 (e) (aa)		355		354
Vibrant CLO VI Ltd., (Cayman Islands), Series 2017-6A, Class AR, (ICE LIBOR USD 3 Month + 0.95%), 3.05%, 06/20/2029 (e) (aa)		2,829		2,781
Voya CLO Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (ICE LIBOR USD 3 Month + 0.95%), 1.99%, 04/17/2030 (e) (aa)		5,200		5,122
Wellfleet CLO Ltd., (Cayman Islands), Series 2015-1A, Class AR4, (ICE LIBOR USD 3 Month + 0.89%), 1.95%, 07/20/2029 (e) (aa)		1,334		1,317


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Asset-Backed Securities — continued
World Omni Auto Receivables Trust, Series 2020-A, Class A3, 1.10%, 04/15/2025		101		100

Total Asset-Backed Securities (Cost $77,105)				74,471

Collateralized Mortgage Obligations — 2.0%
Citigroup Mortgage Loan Trust,
Series 2021-INV1, Class A3A, 2.50%, 05/25/2051 (e) (z)		6,243		5,346
Series 2021-INV3, Class A11, (United States 30 Day Average SOFR + 0.85%), 1.78%, 05/25/2051 (e) (aa)		458		426
FHLMC REMICS,
Series 3404, Class SA, IF, IO, (6.00% - ICE LIBOR USD 1 Month), 4.68%, 01/15/2038 (aa)		1,415		171
Series 3680, Class SA, IF, IO, (5.00% - ICE LIBOR USD 1 Month), 3.68%, 06/15/2040 (aa)		2,716		204
Series 4023, Class S, IF, IO, (6.25% - ICE LIBOR USD 1 Month), 4.93%, 03/15/2042 (aa)		1,156		151
Series 4056, Class GS, IF, IO, (6.65% - ICE LIBOR USD 1 Month), 5.33%, 12/15/2041 (aa)		645		86
Series 4134, Class PI, IO, 3.00%, 11/15/2042		509		63
Series 4165, Class TI, IO, 3.00%, 12/15/2042		576		43
Series 4479, Class AI, IO, 3.50%, 09/15/2025		5,998		243
Series 4598, Class IK, IO, 3.50%, 03/15/2046		676		126
Series 4710, Class EI, IO, 3.50%, 11/15/2031		4,129		360
Series 4825, Class SE, IF, IO, (6.20% - ICE LIBOR USD 1 Month), 4.88%, 09/15/2048 (aa)		4,748		718
Series 4888, Class IB, IO, 4.00%, 03/15/2047		415		62
Series 4990, Class MI, IO, 4.00%, 07/25/2050		4,768		1,081
Series 5003, Class AS, IF, IO, (6.10% - ICE LIBOR USD 1 Month), 4.48%, 08/25/2050 (aa)		6,865		1,357
Series 5016, Class PI, IO, 3.00%, 09/25/2050		12,803		2,034
Series 5024, Class BI, IO, 2.00%, 10/25/2050		19,558		2,346
Series 5034, Class YI, IO, 4.00%, 11/25/2050		3,195		604
Series 5045, Class DI, IO, 2.50%, 11/25/2050		3,100		426


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 5047, Class CI, IO, 2.00%, 12/25/2050		1,836		257
Series 5056, Class PI, IO, 2.50%, 12/25/2050		9,458		1,236
Series 5062, Class EI, IO, 2.00%, 01/25/2051		3,942		555
Series 5065, Class IG, IO, 3.00%, 01/25/2051		3,735		585
Series 5069, Class DI, IO, 3.50%, 02/25/2041		1,531		198
Series 5069, Class LI, IO, 2.50%, 02/25/2051		15,687		2,359
Series 5071, Class IN, IO, 4.00%, 08/25/2050		6,037		1,377
Series 5087, Class IL, IO, 3.00%, 03/25/2051		2,197		362
Series 5124, Class LI, IO, 4.50%, 07/25/2051		14,066		3,106
FHLMC STRIPs, Series 365, Class C2, IO, 4.00%, 06/15/2049		4,570		1,036
FNMA Interest STRIP,
Series 379, Class S56, IF, IO, (7.90% - ICE LIBOR USD 1 Month), 6.28%, 05/25/2037 (aa)		453		80
Series 405, Class 1, PO, Zero Coupon, 10/25/2040		350		296
Series 406, Class 23, IO, 6.00%, 11/25/2040 (z)		168		50
FNMA REMICS,
Series 2007-30, Class JS, IF, IO, (6.44% - ICE LIBOR USD 1 Month), 4.82%, 04/25/2037 (aa)		1,986		263
Series 2012-53, Class IO, IO, 3.50%, 05/25/2027		633		35
Series 2012-98, Class JI, IO, 3.00%, 04/25/2027		1,991		60
Series 2012-135, Class SB, IF, IO, (6.10% - ICE LIBOR USD 1 Month), 4.48%, 12/25/2042 (aa)		1,108		150
Series 2013-109, Class BO, PO, Zero Coupon, 07/25/2043		411		267
Series 2014-34, Class US, IF, (8.60% - ICE LIBOR USD 1 Month), 5.35%, 06/25/2044 (aa)		68		62
Series 2016-26, Class SY, IF, (7.03% - ICE LIBOR USD 1 Month), 3.23%, 11/25/2042 (aa)		516		385
Series 2016-63, Class AS, IF, IO, (6.00% - ICE LIBOR USD 1 Month), 4.38%, 09/25/2046 (aa)		1,802		262
Series 2018-67, Class SH, IF, IO, (6.20% - ICE LIBOR USD 1 Month), 4.58%, 09/25/2048 (aa)		3,730		594
Series 2019-48, Class IB, IO, 0.66%, 06/25/2039 (z)		25,005		590


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Collateralized Mortgage Obligations — continued
Series 2019-68, Class US, IF, IO, (6.00% - ICE LIBOR USD 1 Month), 4.38%, 11/25/2049 (aa)		6,927		1,203
Series 2019-78, Class DI, IO, 4.50%, 11/25/2049		710		110
Series 2020-42, Class CI, IO, 3.00%, 06/25/2050		13,965		2,415
Series 2020-60, Class BI, IO, 3.50%, 09/25/2050		12,428		2,343
Series 2020-68, Class CI, IO, 3.00%, 10/25/2050		9,458		1,441
Series 2020-74, Class PI, IO, 2.00%, 12/25/2049		11,184		1,180
Series 2020-86, Class PI, IO, 2.50%, 12/25/2050		3,576		520
Series 2020-89, Class IM, IO, 2.00%, 12/25/2050		10,632		1,500
Series 2020-89, Class LI, IO, 3.00%, 12/25/2050		12,297		1,941
Series 2020-99, Class IQ, IO, 3.00%, 01/25/2051		1,052		170
Series 2021-8, Class YF, (United States 30 Day Average SOFR + 0.20%), 0.49%, 03/25/2061 (aa)		12,195		12,156
GNMA,
Series 2015-H03, Class FA, (ICE LIBOR USD 1 Month + 0.50%), 1.30%, 12/20/2064 (aa)		84		83
Series 2015-H33, Class FA, (ICE LIBOR USD 1 Month + 0.66%), 1.46%, 12/20/2065 (aa)		7,530		7,469
Series 2017-H03, Class HA, 3.00%, 01/20/2067		5,183		5,108
Series 2019-H08, Class FE, (ICE LIBOR USD 1 Month + 0.65%), 1.45%, 01/20/2069 (aa)		4,744		4,654
Series 2019-H16, Class FD, (ICE LIBOR USD 1 Month + 0.80%), 1.60%, 10/20/2069 (aa)		2,709		2,680
Series 2020-142, Class LI, IO, 2.50%, 09/20/2050		12,382		1,905
Series 2020-142, Class MT, IF, IO, (6.15% - ICE LIBOR USD 1 Month), 0.05%, 07/20/2047 (aa)		15,449		28
Series 2020-142, Class TN, IF, IO, (6.20% - ICE LIBOR USD 1 Month), 0.10%, 09/20/2047 (aa)		20,991		85
Series 2020-H14, Class FH, (ICE LIBOR USD 1 Month + 1.25%), 2.05%, 08/20/2070 (aa)		7,422		7,545
Series 2020-H15, Class FH, (ICE LIBOR USD 1 Month + 1.05%), 1.85%, 07/20/2070 (aa)		3,338		3,344


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 2020-H15, Class FK, (ICE LIBOR USD 1 Month + 1.25%), 2.05%, 04/20/2070 (aa)		5,913		5,964
Series 2020-H16, Class FN, (ICE LIBOR USD 1 Month + 1.25%), 2.05%, 09/20/2070 (aa)		2,005		2,035
Series 2021-23, Class GI, IO, 2.00%, 02/20/2051		12,897		1,590
Series 2021-83, Class PU, 1.50%, 05/20/2051		59		59
Series 2021-122, Class IT, IO, 2.50%, 07/20/2051		12,985		1,461
Series 2021-206, Class IG, IO, 2.50%, 09/20/2051		11,510		1,220
Series 2021-223, Class QI, IO, 2.50%, 10/20/2051		11,920		1,230
Series 2021-H14, Class HF, (United States 30 Day Average SOFR + 1.50%), 2.27%, 09/20/2071 (aa)		7,933		8,217
Series 2021-H16, Class F, (United States 30 Day Average SOFR + 1.50%), 2.27%, 09/20/2071 (aa)		9,798		10,164
GS Mortgage-Backed Securities Trust,
Series 2021-GR2, Class A2, 2.50%, 02/25/2052 (e) (z)		1,912		1,637
Series 2021-INV1, Class A2, 2.50%, 12/25/2051 (e) (z)		914		783
IMS Ecuadorian Mortgage Trust, Series 2021-1, Class GA, 3.40%, 08/18/2043 (e)		2,300		2,243
MFA Trust, Series 2020-NQM2, Class A1, 1.38%, 04/25/2065 (e) (z)		4,934		4,739
Morgan Stanley Residential Mortgage Loan Trust, Series 2021-6, Class A6, (United States 30 Day Average SOFR + 0.85%), 1.43%, 09/25/2051 (e) (aa)		1,991		1,851
OBX Trust, Series 2021-INV2, Class A11, (United States 30 Day Average SOFR + 0.90%), 1.83%, 10/25/2051 (e) (aa)		461		430
PMT Loan Trust,
Series 2021-INV1, Class A11, (United States 30 Day Average SOFR + 0.90%), 1.48%, 07/25/2051 (e) (aa)		9,206		8,592
Series 2021-INV1, Class A3, 2.50%, 07/25/2051 (e) (z)		4,375		3,746

Total Collateralized Mortgage Obligations (Cost $156,186)				143,853

Commercial Mortgage-Backed Securities — 0.7%
Banc of America Commercial Mortgage Trust, Series 2015-UBS7, Class ASB, 3.43%, 09/15/2048		421		418
BANK,
Series 2017-BNK7, Class AS, 3.75%, 09/15/2060		750		712


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Commercial Mortgage-Backed Securities — continued
Series 2018-BN13, Class A5, 4.22%, 08/15/2061 (z)		500		499
Series 2018-BN15, Class A4, 4.41%, 11/15/2061 (z)		1,235		1,244
Barclays Commercial Mortgage Trust,
Series 2019-C5, Class A4, 3.06%, 11/15/2052		1,000		923
Series 2019-C5, Class ASB, 2.99%, 11/15/2052		500		477
BBCMS Mortgage Trust,
Series 2020-C6, Class ASB, 2.60%, 02/15/2053		600		558
Series 2020-C7, Class A5, 2.04%, 04/15/2053		210		180
BCP Trust, Series 2021-330N, Class A, (ICE LIBOR USD 1 Month + 0.80%), 2.12%, 06/15/2038 (e) (aa)		2,800		2,689
Benchmark Mortgage Trust,
Series 2020-B16, Class AM, 2.94%, 02/15/2053 (z)		350		307
Series 2020-B17, Class A5, 2.29%, 03/15/2053		500		435
Series 2020-B20, Class A5, 2.03%, 10/15/2053		750		634
BWAY Mortgage Trust, Series 2021-1450, Class A, (ICE LIBOR USD 1 Month + 1.25%), 2.57%, 09/15/2036 (e) (aa)		4,600		4,413
BX Commercial Mortgage Trust, Series 2021-21M, Class A, (ICE LIBOR USD 1 Month + 0.73%), 2.05%, 10/15/2036 (e) (aa)		3,000		2,852
CD Mortgage Trust, Series 2017-CD5, Class AAB, 3.22%, 08/15/2050		1,000		982
CGMS Commercial Mortgage Trust, Series 2017-B1, Class A4, 3.46%, 08/15/2050		1,100		1,059
Citigroup Commercial Mortgage Trust,
Series 2014-GC23, Class AS, 3.86%, 07/10/2047		250		246
Series 2014-GC25, Class A4, 3.64%, 10/10/2047		500		492
Series 2015-GC33, Class AS, 4.11%, 09/10/2058		500		492
Series 2019-GC41, Class AS, 3.02%, 08/10/2056		250		224
COMM Mortgage Trust, Series 2016-CR28, Class ASB, 3.53%, 02/10/2049		345		341
CSAIL Commercial Mortgage Trust, Series 2016-C7, Class ASB, 3.31%, 11/15/2049		301		297
CSMC, Series 2020-FACT, Class A, (ICE LIBOR USD 1 Month + 1.35%), 2.67%, 10/15/2037 (e) (aa)		2,100		2,041


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


FHLMC Multifamily Structured Pass Through Certificates,
Series K027, Class A2, 2.64%, 01/25/2023		802		801
Series K047, Class A2, 3.33%, 05/25/2025 (z)		1,000		997
Series K049, Class A2, 3.01%, 07/25/2025		250		247
Series K057, Class A2, 2.57%, 07/25/2026		850		824
Series K063, Class A2, 3.43%, 01/25/2027 (z)		1,000		998
Series K071, Class A2, 3.29%, 11/25/2027		500		495
Series K073, Class A2, 3.35%, 01/25/2028		1,000		993
Series K075, Class A2, 3.65%, 02/25/2028 (z)		500		503
Series K094, Class A2, 2.90%, 06/25/2029		112		108
Series K103, Class A2, 2.65%, 11/25/2029		500		472
Series K108, Class A2, 1.52%, 03/25/2030		304		264
Series K117, Class A2, 1.41%, 08/25/2030		1,500		1,274
Series K118, Class A2, 1.49%, 09/25/2030		500		427
Series K725, Class A2, 3.00%, 01/25/2024		225		224
Series K726, Class A2, 2.91%, 04/25/2024		762		756
Series K729, Class A2, 3.14%, 10/25/2024		200		199
Series K737, Class A2, 2.53%, 10/25/2026		650		627
FNMA-ACES,
Series 2015-M10, Class A2, 3.09%, 04/25/2027 (z)		654		644
Series 2016-M5, Class A2, 2.47%, 04/25/2026		500		486
Series 2017-M11, Class A2, 2.98%, 08/25/2029		1,000		969
Series 2017-M12, Class A2, 3.17%, 06/25/2027 (z)		111		109
Series 2017-M13, Class A2, 3.02%, 09/25/2027 (z)		585		578
Series 2018-M8, Class A2, 3.41%, 06/25/2028 (z)		910		902
Series 2020-M46, Class A2, 1.32%, 05/25/2030		1,000		865
GS Mortgage Securities Trust, Series 2019-GSA1, Class A4, 3.05%, 11/10/2052		250		231


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Commercial Mortgage-Backed Securities — continued
LUXE Trust,
Series 2021-MLBH, Class A, (ICE LIBOR USD 1 Month + 0.98%), 2.31%, 11/15/2038 (e) (aa)		600		576
Series 2021-TRIP, Class A, (ICE LIBOR USD 1 Month + 1.05%), 2.37%, 10/15/2038 (e) (aa)		2,900		2,792
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2016-C29, Class A4, 3.33%, 05/15/2049		500		483
Series 2016-C31, Class A5, 3.10%, 11/15/2049		500		474
Series 2016-C32, Class A4, 3.72%, 12/15/2049		1,000		978
UBS Commercial Mortgage Trust,
Series 2018-C11, Class ASB, 4.12%, 06/15/2051		687		684
Series 2018-C12, Class A5, 4.30%, 08/15/2051		1,380		1,376
UBS-Barclays Commercial Mortgage Trust,
Series 2012-C2, Class A4, 3.53%, 05/10/2063		19		19
Series 2012-C4, Class A5, 2.85%, 12/10/2045		296		295
Wells Fargo Commercial Mortgage Trust,
Series 2014-LC18, Class A5, 3.41%, 12/15/2047		420		411
Series 2015-C27, Class A5, 3.45%, 02/15/2048		918		900
Series 2015-LC20, Class A5, 3.18%, 04/15/2050		500		484
Series 2017-C39, Class A5, 3.42%, 09/15/2050		1,000		963
Series 2017-C40, Class A4, 3.58%, 10/15/2050		550		532
Series 2018-C44, Class A5, 4.21%, 05/15/2051		1,000		996
WFRBS Commercial Mortgage Trust, Series 2013-C12, Class A4, 3.20%, 03/15/2048		279		278

Total Commercial Mortgage-Backed Securities (Cost $54,595)				49,749

Corporate Bonds —18.8%
Basic Materials — 0.6%
Chemicals — 0.3%
Air Liquide Finance SA, (France),
Reg. S, 0.63%, 06/20/2030	EUR	400		353
Reg. S, 0.75%, 06/13/2024	EUR	600		616
Air Products and Chemicals, Inc.,
1.00%, 02/12/2025	EUR	1,550		1,571
2.80%, 05/15/2050		15		11


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Chemicals — continued
Albemarle New Holding GmbH, (Germany), Reg. S, 1.63%, 11/25/2028	EUR	1,000		896
Argentum Netherlands BV for Givaudan SA, (Netherlands),
Reg. S, 1.13%, 09/17/2025	EUR	800		802
Reg. S, 2.00%, 09/17/2030	EUR	1,000		941
Celanese US Holdings LLC,
0.63%, 09/10/2028	EUR	1,500		1,213
3.50%, 05/08/2024		50		50
CF Industries, Inc.,
4.50%, 12/01/2026 (e)		1,800		1,795
4.95%, 06/01/2043		100		91
5.38%, 03/15/2044		30		28
Covestro AG, (Germany), Reg. S, 0.88%, 02/03/2026	EUR	1,875		1,792
Dow Chemical Co. (The),
4.55%, 11/30/2025		118		120
5.25%, 11/15/2041		600		590
Eastman Chemical Co., 1.50%, 05/26/2023	EUR	900		939
Ecolab, Inc., 1.00%, 01/15/2024	EUR	1,950		2,015
EI du Pont de Nemours and Co., 2.30%, 07/15/2030		46		40
FMC Corp., 3.20%, 10/01/2026		10		10
Givaudan Finance Europe BV, (Netherlands), Reg. S, 1.00%, 04/22/2027	EUR	100		96
Huntsman International LLC, 4.50%, 05/01/2029		2		2
Linde Finance BV, (Netherlands),
Reg. S, 0.55%, 05/19/2032	EUR	400		330
Reg. S, 1.88%, 05/22/2024	EUR	425		450
Linde plc, (Ireland), Reg. S, 1.00%, 09/30/2051	EUR	1,300		736
LYB International Finance BV, (Netherlands), 4.88%, 03/15/2044		550		494
LYB International Finance III LLC,
3.38%, 10/01/2040		290		224
4.20%, 10/15/2049		1,000		818
Mosaic Co. (The), 4.25%, 11/15/2023		30		30
PPG Industries, Inc.,
1.20%, 03/15/2026		35		31
1.88%, 06/01/2025	EUR	1,500		1,540
2.75%, 06/01/2029	EUR	3,200		3,208
Sherwin-Williams Co. (The), 3.45%, 08/01/2025		65		64
Westlake Corp.,
1.63%, 07/17/2029	EUR	500		441
3.13%, 08/15/2051		185		130
3.38%, 08/15/2061		320		217
Yara International ASA, (Norway), 3.15%, 06/04/2030 (e)		1,000		856

				23,540


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Iron/Steel — 0.0% (g)
ArcelorMittal SA, (Luxembourg),
6.75%, 03/01/2041		20		20
7.00%, 10/15/2039		20		20
Reliance Steel & Aluminum Co.,
1.30%, 08/15/2025		70		63
2.15%, 08/15/2030		235		191
Steel Dynamics, Inc., 3.25%, 01/15/2031		3,000		2,620

				2,914

Mining — 0.3%
Anglo American Capital plc, (United Kingdom),
Reg. S, 1.63%, 03/11/2026	EUR	500		493
Reg. S, 3.38%, 03/11/2029	GBP	1,500		1,664
Barrick PD Australia Finance Pty Ltd., (Australia), 5.95%, 10/15/2039		920		980
BHP Billiton Finance Ltd., (Australia),
Series 10, Reg. S, 3.25%, 09/24/2027	EUR	698		727
Series 13, Reg. S, 3.13%, 04/29/2033	EUR	141		138
Series 17, Reg. S, 1.50%, 04/29/2030	EUR	775		707
Freeport-McMoRan, Inc.,
4.13%, 03/01/2028		1,500		1,394
4.63%, 08/01/2030		40		37
5.40%, 11/14/2034		192		188
Glencore Capital Finance DAC, (Ireland),
Reg. S, 1.13%, 03/10/2028	EUR	2,000		1,722
Reg. S, 1.25%, 03/01/2033	EUR	2,225		1,590
Kinross Gold Corp., (Canada), 4.50%, 07/15/2027		2,500		2,449
Newmont Corp., 4.88%, 03/15/2042		30		29
Norsk Hydro ASA, (Norway),
Reg. S, 1.13%, 04/11/2025	EUR	900		896
Reg. S, 2.00%, 04/11/2029	EUR	1,000		925
Rio Tinto Finance USA Ltd., (Australia), 2.75%, 11/02/2051		170		125
Southern Copper Corp.,
3.88%, 04/23/2025		35		35
5.88%, 04/23/2045		29		30
6.75%, 04/16/2040		10		11
Teck Resources Ltd., (Canada), 5.40%, 02/01/2043		1,100		1,027
Yamana Gold, Inc., (Canada), 2.63%, 08/15/2031		2,705		2,176

				17,343

Total Basic Materials				43,797

Communications — 1.1%
Advertising — 0.0% (g)
Interpublic Group of Cos., Inc. (The), 3.38%, 03/01/2041		44		33
MMS USA Holdings, Inc.,
Reg. S, 0.63%, 06/13/2025	EUR	1,500		1,480
Reg. S, 1.25%, 06/13/2028	EUR	1,900		1,763

				3,276


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Internet — 0.1%
Alphabet, Inc.,
1.90%, 08/15/2040		700		504
2.25%, 08/15/2060		65		43
Amazon.com, Inc.,
2.10%, 05/12/2031		30		26
2.88%, 05/12/2041		20		16
3.10%, 05/12/2051		100		79
3.25%, 05/12/2061		25		19
3.88%, 08/22/2037		20		19
4.25%, 08/22/2057		30		29
Booking Holdings, Inc.,
3.60%, 06/01/2026		50		49
4.63%, 04/13/2030		55		55
Expedia Group, Inc.,
3.25%, 02/15/2030		2,140		1,788
3.80%, 02/15/2028		700		639
4.63%, 08/01/2027		705		678
5.00%, 02/15/2026		20		20
VeriSign, Inc.,
2.70%, 06/15/2031		80		64
4.75%, 07/15/2027		77		75
5.25%, 04/01/2025		132		133

				4,236

Media — 0.4%
Charter Communications Operating LLC / Charter Communications Operating Capital,
3.70%, 04/01/2051		3,140		2,138
3.95%, 06/30/2062		30		20
4.50%, 02/01/2024		105		106
4.80%, 03/01/2050		109		87
4.91%, 07/23/2025		1,545		1,547
6.38%, 10/23/2035		40		40
Comcast Corp.,
0.25%, 09/14/2029	EUR	3,100		2,689
1.88%, 02/20/2036	GBP	1,075		1,021
1.95%, 01/15/2031		2,875		2,398
2.35%, 01/15/2027		57		53
2.65%, 08/15/2062		75		48
3.15%, 02/15/2028		98		93
3.20%, 07/15/2036		25		21
3.30%, 02/01/2027		1,940		1,885
3.97%, 11/01/2047		170		148
4.25%, 10/15/2030		120		119
4.60%, 10/15/2038		120		117
Cox Communications, Inc., 3.50%, 08/15/2027 (e)		3,180		3,022
Discovery Communications LLC, 5.20%, 09/20/2047		1,100		949
FactSet Research Systems, Inc.,
2.90%, 03/01/2027		1,035		969
3.45%, 03/01/2032		280		246
Paramount Global, 4.85%, 07/01/2042		2,080		1,735


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Media — continued
Pearson Funding plc, (United Kingdom), Reg. S, 3.75%, 06/04/2030	GBP	475		548
TDF Infrastructure SASU, (France), Reg. S, 1.75%, 12/01/2029	EUR	3,400		2,938
Thomson Reuters Corp., (Canada), 4.30%, 11/23/2023		120		122
Time Warner Cable LLC,
4.50%, 09/15/2042		100		79
5.50%, 09/01/2041		800		701
Vivendi SE, (France), Reg. S, 1.13%, 12/11/2028	EUR	600		557
Walt Disney Co. (The),
1.75%, 08/30/2024		45		43
1.75%, 01/13/2026		45		42
Wolters Kluwer NV, (Netherlands),
Reg. S, 0.25%, 03/30/2028	EUR	1,300		1,180
Reg. S, 0.75%, 07/03/2030	EUR	775		680
Reg. S, 1.50%, 03/22/2027	EUR	2,275		2,286

				28,627

Telecommunications — 0.6%
America Movil SAB de CV, (Mexico),
2.13%, 03/10/2028	EUR	700		699
5.00%, 10/27/2026	GBP	100		129
6.13%, 03/30/2040		200		222
Series B, Reg. S, (EUR Swap Rate 5 Year + 4.55%), 6.38%, 09/06/2073 (aa)	EUR	1,500		1,592
AT&T, Inc.,
1.65%, 02/01/2028		180		156
1.70%, 03/25/2026		330		302
1.80%, 09/05/2026	EUR	1,150		1,173
1.80%, 09/14/2039	EUR	500		384
2.05%, 05/19/2032	EUR	100		94
2.45%, 03/15/2035	EUR	425		386
3.50%, 06/01/2041		2,140		1,719
3.55%, 09/15/2055		85		64
3.65%, 06/01/2051		1,800		1,417
3.80%, 02/15/2027		40		39
3.80%, 12/01/2057		82		64
3.85%, 06/01/2060		20		16
4.25%, 06/01/2043	GBP	200		224
4.30%, 12/15/2042		100		88
4.50%, 03/09/2048		15		13
4.75%, 05/15/2046		70		65
4.85%, 03/01/2039		170		163
Reg. S, 5.50%, 03/15/2027	GBP	450		589
7.00%, 04/30/2040	GBP	400		609
Bell Telephone Co. of Canada or Bell Canada (The), (Canada),
3.65%, 08/15/2052		35		28
Series US-3, 0.75%, 03/17/2024		45		43


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Telecommunications — continued
CK Hutchison Group Telecom Finance SA, (Luxembourg), Reg. S, 0.38%, 10/17/2023	EUR	1,300		1,336
Elisa OYJ, (Finland), Reg. S, 0.88%, 03/17/2024	EUR	100		103
Emirates Telecommunications Group Co. PJSC, (United Arab Emirates), Reg. S, 0.88%, 05/17/2033	EUR	300		246
Eutelsat SA, (France), Reg. S, 1.50%, 10/13/2028	EUR	1,000		897
Global Switch Holdings Ltd., (British Virgin Islands), Reg. S, 1.50%, 01/31/2024	EUR	450		459
Juniper Networks, Inc., 2.00%, 12/10/2030		160		126
Level 3 Financing, Inc., 3.40%, 03/01/2027 (e)		1,780		1,533
Motorola Solutions, Inc.,
2.30%, 11/15/2030		47		37
2.75%, 05/24/2031		410		332
4.60%, 05/23/2029		40		38
5.50%, 09/01/2044		40		38
Orange SA, (France),
Reg. S, 0.00%, 09/04/2026	EUR	2,000		1,894
Reg. S, 0.50%, 09/04/2032	EUR	2,000		1,636
Reg. S, 2.38%, 05/18/2032	EUR	700		694
Reg. S, 3.25%, 01/15/2032	GBP	1,100		1,268
OTE plc, (United Kingdom), Reg. S, 0.88%, 09/24/2026	EUR	100		98
Proximus SADP, (Belgium), Reg. S, 2.38%, 04/04/2024	EUR	100		106
Rogers Communications, Inc., (Canada),
3.20%, 03/15/2027 (e)		57		54
3.80%, 03/15/2032 (e)		68		62
4.50%, 03/15/2042 (e)		51		46
4.55%, 03/15/2052 (e)		32		28
SES SA, (Luxembourg), Reg. S, 3.50%, 01/14/2029	EUR	1,500		1,534
SingTel Group Treasury Pte Ltd., (Singapore), Reg. S, (SGD Swap Rate 10 Year + 1.90%), 3.30%, 07/14/2031 (x) (aa)	SGD	250		170
Sprint Corp., 7.63%, 02/15/2025		2,800		2,920
Tele2 AB, (Sweden), Reg. S, 2.13%, 05/15/2028	EUR	1,800		1,814
Telefonaktiebolaget LM Ericsson, (Sweden),
Reg. S, 1.00%, 05/26/2029	EUR	1,415		1,113
Reg. S, 1.88%, 03/01/2024	EUR	1,000		1,026
Telenor ASA, (Norway), Reg. S, 0.25%, 02/14/2028	EUR	700		645
Telia Co. AB, (Sweden), Reg. S, 2.13%, 02/20/2034	EUR	700		657
Telstra Corp. Ltd., (Australia), Reg. S, 1.00%, 04/23/2030	EUR	1,800		1,638


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Telecommunications — continued
T-Mobile USA, Inc.,
1.50%, 02/15/2026		10		9
3.00%, 02/15/2041		50		37
3.50%, 04/15/2025		2,525		2,472
3.88%, 04/15/2030		3,420		3,201
Verizon Communications, Inc.,
0.88%, 04/02/2025	EUR	750		762
0.88%, 04/08/2027	EUR	475		458
1.50%, 09/19/2039	EUR	700		534
1.68%, 10/30/2030		78		63
1.88%, 11/03/2038	GBP	200		172
2.10%, 03/22/2028		50		45
2.36%, 03/15/2032		54		45
2.50%, 04/08/2031	GBP	1,000		1,076
2.55%, 03/21/2031		650		557
2.65%, 11/20/2040		1,070		791
2.88%, 11/20/2050		20		14
3.00%, 11/20/2060		60		41
3.25%, 02/17/2026	EUR	200		217
3.70%, 03/22/2061		350		277
4.07%, 06/18/2024	GBP	100		124
4.13%, 08/15/2046		80		71
4.27%, 01/15/2036		25		24
4.40%, 11/01/2034		20		19
4.86%, 08/21/2046		125		124
Vodafone Group plc, (United Kingdom),
4.25%, 09/17/2050		25		21
4.88%, 06/19/2049		25		23
5.25%, 05/30/2048		25		24

				44,027

Total Communications				80,166

Consumer Cyclical — 1.1%
Airlines — 0.1%
easyJet FinCo. BV, (Netherlands), Reg. S, 1.88%, 03/03/2028	EUR	1,200		1,010
Southwest Airlines Co.,
5.13%, 06/15/2027		1,150		1,164
5.25%, 05/04/2025		1,600		1,631
United Airlines, Inc.,
4.38%, 04/15/2026 (e)		525		469
4.63%, 04/15/2029 (e)		360		303

				4,577

Apparel — 0.0% (g)
Burberry Group plc, (United Kingdom), Reg. S, 1.13%, 09/21/2025	GBP	425		476
LVMH Moet Hennessy Louis Vuitton SE, (France),
Reg. S, 0.13%, 02/11/2028	EUR	800		746
Reg. S, 0.75%, 04/07/2025	EUR	300		305
NIKE, Inc., 3.38%, 03/27/2050		50		43
Tapestry, Inc., 4.13%, 07/15/2027		2,020		1,945


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Apparel — continued
VF Corp., 2.40%, 04/23/2025		25		24

				3,539

Auto Manufacturers — 0.6%
American Honda Finance Corp.,
0.75%, 11/25/2026	GBP	4,800		5,190
1.50%, 10/19/2027	GBP	2,300		2,524
BMW US Capital LLC, 3.90%, 04/09/2025 (e)		1,100		1,097
Cummins, Inc., 2.60%, 09/01/2050		60		41
Dongfeng Motor Hong Kong International Co. Ltd., (Hong Kong), Reg. S, 0.43%, 10/19/2024	EUR	300		298
Ford Motor Co., 3.25%, 02/12/2032		700		519
Ford Motor Credit Co. LLC,
4.00%, 11/13/2030		545		441
4.95%, 05/28/2027		3,065		2,821
General Motors Co.,
5.20%, 04/01/2045		425		358
6.25%, 10/02/2043		295		282
6.60%, 04/01/2036		520		528
General Motors Financial Co., Inc.,
Reg. S, 1.69%, 03/26/2025	EUR	775		779
1.70%, 08/18/2023		70		68
Reg. S, 2.25%, 09/06/2024	GBP	700		817
Reg. S, 2.35%, 09/03/2025	GBP	1,225		1,400
2.35%, 02/26/2027		110		97
2.70%, 08/20/2027		1,450		1,278
2.70%, 06/10/2031		585		462
2.75%, 06/20/2025		180		169
2.90%, 02/26/2025		45		43
5.00%, 04/09/2027		1,120		1,102
Harley-Davidson Financial Services, Inc., Reg. S, 3.88%, 05/19/2023	EUR	425		449
Mercedes-Benz Group AG, (Germany),
Reg. S, 1.13%, 11/06/2031	EUR	15		13
Reg. S, 2.13%, 07/03/2037	EUR	775		667
Mercedes-Benz International Finance BV, (Netherlands),
Reg. S, 0.63%, 02/27/2023	EUR	425		445
Reg. S, 1.63%, 08/22/2023	EUR	20		21
Reg. S, 2.63%, 04/07/2025	EUR	1,760		1,865
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e)		1,600		1,472
Nissan Motor Co. Ltd., (Japan),
Reg. S, 3.20%, 09/17/2028	EUR	1,000		931
3.52%, 09/17/2025 (e)		3,000		2,841
PACCAR Financial Europe BV, (Netherlands), Reg. S, 0.00%, 03/03/2023	EUR	500		521
Stellantis Finance US, Inc., 2.69%, 09/15/2031 (e)		460		365
Toyota Motor Credit Corp.,
0.80%, 01/09/2026		200		181
3.95%, 06/30/2025		175		175


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Auto Manufacturers — continued
Volkswagen Bank GmbH, (Germany),
Reg. S, 0.75%, 06/15/2023	EUR	300		312
Reg. S, 1.25%, 06/10/2024	EUR	1,500		1,539
Volkswagen Financial Services AG, (Germany),
Reg. S, 1.38%, 10/16/2023	EUR	900		937
Reg. S, 2.25%, 10/16/2026	EUR	10		10
Reg. S, 2.50%, 04/06/2023	EUR	915		967
Reg. S, 3.00%, 04/06/2025	EUR	20		21
Reg. S, 3.38%, 04/06/2028	EUR	1,450		1,493
Volkswagen Financial Services NV, (Netherlands), Reg. S, 1.13%, 07/05/2026	GBP	1,000		1,077
Volkswagen Group of America Finance LLC, 4.35%, 06/08/2027 (e)		1,540		1,512
Volkswagen International Finance NV, (Netherlands),
Reg. S, 0.05%, 06/10/2024	EUR	400		402
Reg. S, (EUR Swap Rate 5 Year + 3.75%), 3.50%, 06/17/2025 (x) (aa)	EUR	1,000		948
Reg. S, (EUR Swap Rate 9 Year + 3.96%), 3.88%, 06/17/2029 (x) (aa)	EUR	2,000		1,736
Reg. S, (EUR Swap Rate 12 Year + 2.97%), 4.63%, 03/24/2026 (x) (aa)	EUR	210		207

				41,421

Auto Parts & Equipment — 0.1%
Aptiv plc, (Jersey), 1.50%, 03/10/2025	EUR	425		427
Autoliv, Inc., Reg. S, 0.75%, 06/26/2023	EUR	700		722
Cie Generale des Etablissements Michelin SCA, (France), Reg. S, 0.63%, 11/02/2040	EUR	300		189
Magna International, Inc., (Canada),
1.90%, 11/24/2023	EUR	1,125		1,177
2.45%, 06/15/2030		1,000		854
4.15%, 10/01/2025		2,000		2,010

				5,379

Distribution/Wholesale — 0.0% (g)
Bunzl Finance plc, (United Kingdom), Reg. S, 1.50%, 10/30/2030	GBP	550		553
IMCD NV, (Netherlands), Reg. S, 2.13%, 03/31/2027	EUR	1,100		1,035

				1,588

Entertainment — 0.0% (g)
Magallanes, Inc.,
4.28%, 03/15/2032 (e)		745		668
5.05%, 03/15/2042 (e)		705		602
5.14%, 03/15/2052 (e)		925		782
5.39%, 03/15/2062 (e)		205		172
Universal Music Group NV, (Netherlands), Reg. S, 3.00%, 06/30/2027	EUR	1,050		1,101

				3,325


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)			VALUE($)


Home Builders — 0.0% (g)
Berkeley Group plc (The), (United Kingdom), Reg. S, 2.50%, 08/11/2031	GBP	172			154
NVR, Inc., 3.00%, 05/15/2030		339			293

					447

Home Furnishings — 0.0% (g)
Whirlpool Finance Luxembourg Sarl, (Luxembourg),
1.10%, 11/09/2027	EUR	225			209
1.25%, 11/02/2026	EUR	200			195

					404

Housewares — 0.1%
Newell Brands, Inc.,
4.45%, 04/01/2026		650			618
4.88%, 06/01/2025		2,710			2,669

					3,287

Lodging — 0.0% (g)
Choice Hotels International, Inc.,
3.70%, 12/01/2029		85			76
3.70%, 01/15/2031		190			169
InterContinental Hotels Group plc, (United Kingdom),
Reg. S, 3.38%, 10/08/2028	GBP	450			499
Reg. S, 3.75%, 08/14/2025	GBP	100			120
Marriott International, Inc., Series HH, 2.85%, 04/15/2031		550			457
Whitbread Group plc, (United Kingdom), Reg. S, 2.38%, 05/31/2027	GBP	1,500			1,630

					2,951

Retail — 0.2%
AutoNation, Inc., 4.75%, 06/01/2030		1,300			1,226
AutoZone, Inc., 1.65%, 01/15/2031		2,595			2,040
Costco Wholesale Corp., 1.60%, 04/20/2030		40			34
Dollar General Corp., 4.15%, 11/01/2025		10			10
Genuine Parts Co., 1.88%, 11/01/2030		270			214
Home Depot, Inc. (The),
2.50%, 04/15/2027		100			95
3.50%, 09/15/2056		75			61
4.20%, 04/01/2043		800			751
5.88%, 12/16/2036		90			104
Lowe’s Cos., Inc., 3.35%, 04/01/2027		40			39
McDonald’s Corp.,
Reg. S, 2.38%, 11/27/2024		EUR	800		840
3.38%, 05/26/2025		50			49
6.30%, 03/01/2038		50			57
Next Group plc, (United Kingdom),
Reg. S, 3.00%, 08/26/2025	GBP	225			265
Reg. S, 3.63%, 05/18/2028	GBP	1,075			1,193
Reg. S, 4.38%, 10/02/2026	GBP	300			364


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Retail — continued
Walmart, Inc.,
2.55%, 04/08/2026	EUR	2,550		2,698
2.65%, 09/22/2051		20		15
Reg. S, 5.25%, 09/28/2035	GBP	550		776

				10,831

Total Consumer Cyclical				77,749

Consumer Non-cyclical — 2.8%
Agriculture — 0.5%
Altria Group, Inc.,
2.20%, 06/15/2027	EUR	1,800		1,696
3.40%, 02/04/2041		75		50
3.70%, 02/04/2051		150		96
3.88%, 09/16/2046		40		27
4.00%, 02/04/2061		10		7
5.38%, 01/31/2044		65		55
5.95%, 02/14/2049		10		9
6.20%, 02/14/2059		58		53
BAT Capital Corp.,
Reg. S, 1.13%, 11/16/2023	EUR	100		103
2.26%, 03/25/2028		100		84
2.73%, 03/25/2031		60		48
2.79%, 09/06/2024		85		82
3.22%, 08/15/2024		100		97
3.56%, 08/15/2027		2,450		2,245
3.73%, 09/25/2040		45		32
3.98%, 09/25/2050		45		31
4.54%, 08/15/2047		50		37
4.74%, 03/16/2032		180		160
4.76%, 09/06/2049		85		65
5.65%, 03/16/2052		60		52
BAT International Finance plc, (United Kingdom),
Reg. S, 2.25%, 01/16/2030	EUR	4,300		3,764
Reg. S, 2.38%, 01/19/2023	EUR	3,800		4,018
3.95%, 06/15/2025 (e)		70		69
Reg. S, 6.00%, 11/24/2034	GBP	600		696
Reg. S, 7.25%, 03/12/2024	GBP	235		300
Bunge Finance Europe BV, (Netherlands), 1.85%, 06/16/2023	EUR	300		313
Bunge Ltd. Finance Corp.,
1.63%, 08/17/2025		70		64
2.75%, 05/14/2031		235		194
3.75%, 09/25/2027		30		29
Cargill, Inc.,
2.13%, 04/23/2030 (e)		1,500		1,296
4.00%, 06/22/2032 (e)		750		736
Imperial Brands Finance plc, (United Kingdom),
Reg. S, 2.13%, 02/12/2027	EUR	1,500		1,436
Reg. S, 3.38%, 02/26/2026	EUR	2,661		2,746


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Agriculture — continued
JT International Financial Services BV, (Netherlands),
Reg. S, 1.00%, 11/26/2029	EUR	1,000		886
Reg. S, 1.13%, 09/28/2025	EUR	1,100		1,098
Reg. S, 2.75%, 09/28/2033	GBP	975		1,015
Philip Morris International, Inc.,
0.63%, 11/08/2024	EUR	1,400		1,400
0.88%, 05/01/2026		100		89
1.50%, 05/01/2025		34		32
1.75%, 11/01/2030		70		54
2.88%, 03/03/2026	EUR	2,200		2,250
2.88%, 05/14/2029	EUR	1,250		1,188
4.25%, 11/10/2044		265		216
4.88%, 11/15/2043		105		94
6.38%, 05/16/2038		175		184
STG Global Finance BV, (Netherlands), Reg. S, 1.38%, 09/24/2025	EUR	1,025		1,013
Viterra Finance BV, (Netherlands),
Reg. S, 0.38%, 09/24/2025	EUR	1,000		937
Reg. S, 1.00%, 09/24/2028	EUR	2,050		1,730

				32,876

Beverages — 0.4%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.,
3.65%, 02/01/2026		50		49
4.70%, 02/01/2036		1,700		1,634
4.90%, 02/01/2046		1,600		1,513
Anheuser-Busch InBev SA, (Belgium),
Reg. S, 2.75%, 03/17/2036	EUR	460		428
Reg. S, 3.70%, 04/02/2040	EUR	350		350
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 01/23/2049		50		51
CCEP Finance Ireland DAC, (Ireland), Reg. S, 0.50%, 09/06/2029	EUR	1,000		870
Coca-Cola Co. (The),
0.13%, 03/09/2029	EUR	3,500		3,089
0.13%, 03/15/2029	EUR	1,700		1,497
1.00%, 03/09/2041	EUR	400		280
1.45%, 06/01/2027		65		59
2.50%, 06/01/2040		90		71
2.75%, 06/01/2060		35		25
3.00%, 03/05/2051		245		199
Coca-Cola Europacific Partners plc, (United Kingdom), Reg. S, 2.38%, 05/07/2025	EUR	2,000		2,089
Coca-Cola Femsa SAB de CV, (Mexico),
1.85%, 09/01/2032		150		116
2.75%, 01/22/2030		450		403
Coca-Cola HBC Finance BV, (Netherlands), Reg. S, 1.63%, 05/14/2031	EUR	1,000		879
Constellation Brands, Inc.,
2.25%, 08/01/2031		50		41
3.50%, 05/09/2027		50		48


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Beverages — continued
3.70%, 12/06/2026		25		24
3.75%, 05/01/2050		10		8
Diageo Capital BV, (Netherlands), Reg. S, 0.13%, 09/28/2028	EUR	4,000		3,586
Diageo Capital plc, (United Kingdom), 3.88%, 04/29/2043		10		9
Diageo Finance plc, (United Kingdom),
Reg. S, 1.88%, 03/27/2027	EUR	1,000		1,023
Reg. S, 2.50%, 03/27/2032	EUR	600		605
Reg. S, 2.75%, 06/08/2038	GBP	625		651
Diageo Investment Corp., 4.25%, 05/11/2042		20		19
Greene King Finance plc, (United Kingdom), Series A2, 5.32%, 09/15/2031	GBP	30		37
Heineken NV, (Netherlands), Reg. S, 2.88%, 08/04/2025	EUR	1,300		1,372
Keurig Dr Pepper, Inc., 4.50%, 04/15/2052		75		67
PepsiCo., Inc.,
0.40%, 10/09/2032	EUR	1,200		969
0.75%, 10/14/2033	EUR	2,950		2,426
3.45%, 10/06/2046		15		13
Pernod Ricard SA, (France),
Reg. S, 0.13%, 10/04/2029	EUR	2,000		1,711
Reg. S, 1.13%, 04/07/2025	EUR	1,600		1,637

				27,848

Biotechnology — 0.0% (g)
Amgen, Inc.,
1.90%, 02/21/2025		100		95
3.63%, 05/22/2024		60		60
4.40%, 02/22/2062		50		44
Regeneron Pharmaceuticals, Inc.,
1.75%, 09/15/2030		300		241
2.80%, 09/15/2050		55		38

				478

Commercial Services — 0.5%
Abertis Infraestructuras SA, (Spain), Reg. S, 3.38%, 11/27/2026	GBP	400		460
ALD SA, (France),
Reg. S, 1.25%, 10/11/2022	EUR	2,500		2,627
Reg. S, 1.25%, 03/02/2026	EUR	3,000		2,892
Amadeus IT Group SA, (Spain), Reg. S, 0.88%, 09/18/2023	EUR	2,000		2,075
American University (The), Series 2019, 3.67%, 04/01/2049		30		26
Automatic Data Processing, Inc.,
1.25%, 09/01/2030		1,590		1,302
1.70%, 05/15/2028		90		81
Autoroutes du Sud de la France SA, (France), Reg. S, 1.25%, 01/18/2027	EUR	2,000		1,960
Block Financial LLC, 2.50%, 07/15/2028		39		34


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Commercial Services — continued
California Institute of Technology, 4.70%, 11/01/2111		25		24
Central Nippon Expressway Co. Ltd., (Japan),
Reg. S, 0.89%, 09/29/2025		600		548
Reg. S, 0.89%, 12/10/2025		200		181
Reg. S, 1.87%, 09/26/2024	AUD	1,000		652
Channel Link Enterprises Finance plc, (United Kingdom), Series A8, Reg. S, (ICE LIBOR EUR 6 Month + 5.90%), 2.71%, 06/30/2050 (aa)	EUR	100		99
Cintas Corp. No. 2, 3.70%, 04/01/2027		30		30
Duke University, Series 2020, 2.68%, 10/01/2044		20		16
East Nippon Expressway Co. Ltd., (Japan), Series 66, 0.10%, 12/18/2026	JPY	100,000		735
Equifax, Inc.,
2.35%, 09/15/2031		850		682
2.60%, 12/15/2025		110		104
3.10%, 05/15/2030		1,800		1,585
ERAC USA Finance LLC,
2.70%, 11/01/2023 (e)		3,200		3,155
3.85%, 11/15/2024 (e)		160		158
4.50%, 02/15/2045 (e)		400		347
7.00%, 10/15/2037 (e)		800		941
Euronet Worldwide, Inc., 1.38%, 05/22/2026	EUR	1,025		936
Experian Finance plc, (United Kingdom),
Reg. S, 0.74%, 10/29/2025	GBP	300		336
Reg. S, 1.38%, 06/25/2026	EUR	1,125		1,130
Reg. S, 3.25%, 04/07/2032	GBP	225		260
George Washington University (The), Series 2014, 4.30%, 09/15/2044		30		29
Holding d’Infrastructures de Transport SASU, (France),
Reg. S, 0.63%, 09/14/2028	EUR	300		260
Reg. S, 2.50%, 05/04/2027	EUR	1,600		1,598
Johns Hopkins University, Series A, 2.81%, 01/01/2060		600		441
Massachusetts Institute of Technology,
3.89%, 07/01/2116		663		558
4.68%, 07/01/2114		500		505
Series F, 2.99%, 07/01/2050		20		16
Moody’s Corp., 1.75%, 03/09/2027	EUR	1,125		1,131
Northwestern University, Series 2020, 2.64%, 12/01/2050		10		7
PayPal Holdings, Inc., 2.65%, 10/01/2026		65		62
President and Fellows of Harvard College, 2.52%, 10/15/2050		10		7
Quanta Services, Inc.,
0.95%, 10/01/2024		80		74
2.90%, 10/01/2030		116		96
3.05%, 10/01/2041		175		122


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Commercial Services — continued
RELX Capital, Inc., 4.75%, 05/20/2032		610		623
RELX Finance BV, (Netherlands),
Reg. S, 0.00%, 03/18/2024	EUR	100		101
Reg. S, 0.88%, 03/10/2032	EUR	2,000		1,678
Rentokil Initial Finance BV, (Netherlands), Reg. S, 3.88%, 06/27/2027	EUR	925		986
Rockefeller Foundation (The), Series 2020, 2.49%, 10/01/2050		5		4
S&P Global, Inc.,
1.25%, 08/15/2030		2,100		1,661
2.30%, 08/15/2060		331		204
2.45%, 03/01/2027 (e)		35		33
Transurban Finance Co. Pty Ltd., (Australia),
Reg. S, 1.75%, 03/29/2028	EUR	1,000		972
Reg. S, 3.00%, 04/08/2030	EUR	100		102
Trustees of Princeton University (The),
4.20%, 03/01/2052		1,295		1,332
Series 2020, 2.52%, 07/01/2050		20		15
United Rentals North America, Inc., 3.88%, 11/15/2027		84		77
University of Southern California,
2.81%, 10/01/2050		20		15
Series 21A, 2.95%, 10/01/2051		10		8
Verisk Analytics, Inc., 5.50%, 06/15/2045		43		43
Washington University (The),
4.35%, 04/15/2122		255		221
Series 2022, 3.52%, 04/15/2054		900		796
Wellcome Trust Ltd. (The), (United Kingdom),
Reg. S, 1.50%, 07/14/2071	GBP	500		340
Reg. S, 2.52%, 02/07/2118	GBP	200		171
West Nippon Expressway Co. Ltd., (Japan), Series 29, 0.31%, 02/12/2026	JPY	200,000		1,483

				39,147

Cosmetics/Personal Care — 0.1%
Estee Lauder Cos., Inc. (The),
2.60%, 04/15/2030		60		54
3.13%, 12/01/2049		20		16
GSK Consumer Healthcare Capital NL BV, (Netherlands), Reg. S, 2.13%, 03/29/2034	EUR	900		823
GSK Consumer Healthcare Capital UK plc, (United Kingdom), Reg. S, 2.88%, 10/29/2028	GBP	425		497
Procter & Gamble Co. (The),
0.35%, 05/05/2030	EUR	2,800		2,485
0.63%, 10/30/2024	EUR	1,450		1,486
1.20%, 10/30/2028	EUR	505		495
1.20%, 10/29/2030		30		24
1.88%, 10/30/2038	EUR	1,125		986
3.60%, 03/25/2050		80		74
4.88%, 05/11/2027	EUR	425		498


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Cosmetics/Personal Care — continued
Unilever Finance Netherlands BV, (Netherlands),
Reg. S, 0.50%, 08/12/2023	EUR	1,400		1,454
Reg. S, 0.75%, 02/28/2026	EUR	1,275		1,270
Reg. S, 1.13%, 02/12/2027	EUR	425		422

				10,584

Food — 0.2%
Campbell Soup Co., 3.95%, 03/15/2025		110		110
Flowers Foods, Inc., 2.40%, 03/15/2031		205		170
General Mills, Inc.,
3.00%, 02/01/2051		30		22
3.65%, 02/15/2024		60		60
Hershey Co. (The),
0.90%, 06/01/2025		55		51
2.65%, 06/01/2050		10		7
Hormel Foods Corp., 1.70%, 06/03/2028		81		72
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., (Multinational),
3.00%, 05/15/2032 (e)		575		441
6.50%, 04/15/2029 (e)		478		481
Kerry Group Financial Services Unlimited Co., (Ireland), Reg. S, 2.38%, 09/10/2025	EUR	1,400		1,465
Kraft Heinz Foods Co.,
3.88%, 05/15/2027		380		368
4.38%, 06/01/2046		20		17
4.88%, 10/01/2049		20		18
5.00%, 06/04/2042		30		27
Kroger Co. (The), 3.95%, 01/15/2050		5		4
Mars, Inc., 2.38%, 07/16/2040 (e)		1,200		878
McCormick & Co., Inc.,
0.90%, 02/15/2026		100		89
3.15%, 08/15/2024		150		147
4.20%, 08/15/2047		5		4
Mondelez International Holdings Netherlands BV, (Netherlands), Reg. S, 0.38%, 09/22/2029	EUR	100		86
Mondelez International, Inc.,
1.50%, 02/04/2031		1,000		786
1.88%, 10/15/2032		300		233
Nestle Finance International Ltd., (Luxembourg),
Reg. S, 0.00%, 06/14/2026	EUR	1,500		1,449
Reg. S, 1.25%, 03/29/2031	EUR	1,200		1,121
Tesco Corporate Treasury Services plc, (United Kingdom),
Reg. S, 0.88%, 05/29/2026	EUR	1,500		1,428
Reg. S, 1.38%, 10/24/2023	EUR	100		104
Reg. S, 1.88%, 11/02/2028	GBP	700		723
Reg. S, 2.75%, 04/27/2030	GBP	425		451
Tyson Foods, Inc.,
4.00%, 03/01/2026		20		20
5.10%, 09/28/2048		15		15

				10,847


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Healthcare — Products — 0.3%
Abbott Ireland Financing DAC, (Ireland),
Reg. S, 0.10%, 11/19/2024	EUR	700		705
Reg. S, 0.38%, 11/19/2027	EUR	1,950		1,832
Abbott Laboratories, 4.90%, 11/30/2046		135		142
Alcon Finance BV, (Netherlands), Reg. S, 2.38%, 05/31/2028	EUR	1,500		1,497
American Medical Systems Europe BV, (Netherlands),
0.75%, 03/08/2025	EUR	700		703
1.88%, 03/08/2034	EUR	2,800		2,439
Becton Dickinson Euro Finance Sarl, (Luxembourg),
1.21%, 06/04/2026	EUR	425		418
1.34%, 08/13/2041	EUR	2,000		1,318
Boston Scientific Corp.,
0.63%, 12/01/2027	EUR	800		739
3.45%, 03/01/2024		44		44
Danaher Corp.,
2.50%, 03/30/2030	EUR	100		101
2.80%, 12/10/2051		70		51
DH Europe Finance II Sarl, (Luxembourg),
0.20%, 03/18/2026	EUR	3,775		3,642
1.35%, 09/18/2039	EUR	700		509
3.40%, 11/15/2049		30		25
Edwards Lifesciences Corp., 4.30%, 06/15/2028		265		259
Medtronic Global Holdings SCA, (Luxembourg),
0.00%, 03/15/2023	EUR	325		339
0.38%, 03/07/2023	EUR	100		105
0.38%, 10/15/2028	EUR	500		454
1.38%, 10/15/2040	EUR	825		608
1.63%, 10/15/2050	EUR	900		614
1.75%, 07/02/2049	EUR	900		640
Molnlycke Holding AB, (Sweden), Reg. S, 1.88%, 02/28/2025	EUR	1,000		1,026
PerkinElmer, Inc., 1.90%, 09/15/2028		135		113
Stryker Corp., 1.00%, 12/03/2031	EUR	1,300		1,093
Thermo Fisher Scientific, Inc.,
1.22%, 10/18/2024		80		76
1.88%, 10/01/2049	EUR	900		644
Werfenlife SA, (Spain), Reg. S, 0.50%, 10/28/2026	EUR	600		568

				20,704

Healthcare — Services — 0.4%
Advocate Health & Hospitals Corp., 3.39%, 10/15/2049		35		29
Aetna, Inc., 2.80%, 06/15/2023		30		30
AHS Hospital Corp., Series 2021, 2.78%, 07/01/2051		755		540
Allina Health System, Series 2019, 3.89%, 04/15/2049		40		36


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Healthcare — Services — continued
Ascension Health, 3.95%, 11/15/2046		70		65
Beth Israel Lahey Health, Inc., Series L, 3.08%, 07/01/2051		7		5
City of Hope, Series 2013, 5.62%, 11/15/2043		35		38
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114		1,000		978
CommonSpirit Health, 3.91%, 10/01/2050		18		15
Elevance Health, Inc.,
3.35%, 12/01/2024		100		99
4.10%, 03/01/2028		2,900		2,874
Eurofins Scientific SE, (Luxembourg), Reg. S, 2.13%, 07/25/2024	EUR	396		411
Hackensack Meridian Health, Inc.,
Series 2020, 2.68%, 09/01/2041		1,335		1,024
Series 2020, 2.88%, 09/01/2050		35		25
HCA, Inc.,
3.13%, 03/15/2027 (e)		2,560		2,329
5.00%, 03/15/2024		1,383		1,391
5.13%, 06/15/2039		700		617
5.50%, 06/15/2047		44		40
Health Care Service Corp. A Mutual Legal Reserve Co., 2.20%, 06/01/2030 (e)		1,400		1,190
Humana, Inc.,
2.90%, 12/15/2022		50		50
3.70%, 03/23/2029		80		76
3.85%, 10/01/2024		50		50
Kaiser Foundation Hospitals, 4.15%, 05/01/2047		1,200		1,126
Laboratory Corp. of America Holdings,
1.55%, 06/01/2026		200		180
4.70%, 02/01/2045		20		18
Lonza Finance International NV, (Belgium), Reg. S, 1.63%, 04/21/2027	EUR	1,000		994
Mayo Clinic,
3.77%, 11/15/2043		30		27
Series 2013, 4.00%, 11/15/2047		25		23
Series 2021, 3.20%, 11/15/2061		440		336
Memorial Health Services, 3.45%, 11/01/2049		10		8
Memorial Sloan-Kettering Cancer Center, 4.13%, 07/01/2052		50		47
Methodist Hospital (The), Series 20A, 2.71%, 12/01/2050		1,500		1,064
MidMichigan Health, Series 2020, 3.41%, 06/01/2050		1,498		1,204
MultiCare Health System, 2.80%, 08/15/2050		1,000		733
New York and Presbyterian Hospital (The),
2.26%, 08/01/2040		1,090		788
4.02%, 08/01/2045		20		18
Northwell Healthcare, Inc., 4.26%, 11/01/2047		25		23


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Healthcare — Services — continued
OhioHealth Corp.,
2.30%, 11/15/2031		830		720
2.83%, 11/15/2041		370		289
Series 2020, 3.04%, 11/15/2050		535		417
PeaceHealth Obligated Group,
Series 2020, 1.38%, 11/15/2025		700		645
Series 2020, 3.22%, 11/15/2050		849		642
Piedmont Healthcare, Inc.,
2.86%, 01/01/2052		3		2
Series 2032, 2.04%, 01/01/2032		470		388
Series 2042, 2.72%, 01/01/2042		453		341
Providence St Joseph Health Obligated Group, Series 21A, 2.70%, 10/01/2051		15		10
Sentara Healthcare, Series 2021, 2.93%, 11/01/2051		2,365		1,791
Texas Health Resources, 2.33%, 11/15/2050		750		495
Trinity Health Corp., Series 2021, 2.63%, 12/01/2040		233		174
UMass Memorial Health Care Obligated Group, 5.36%, 07/01/2052		5		5
UnitedHealth Group, Inc.,
2.00%, 05/15/2030		160		138
3.13%, 05/15/2060		160		118
3.70%, 05/15/2027		75		75
3.70%, 08/15/2049		1,100		944
3.75%, 07/15/2025		20		20
3.88%, 08/15/2059		50		43
4.25%, 03/15/2043		120		113


				25,871

Household Products/Wares — 0.0% (g)
Avery Dennison Corp., 1.25%, 03/03/2025	EUR	1,226		1,233
Clorox Co. (The), 1.80%, 05/15/2030		10		8
Kimberly-Clark Corp., 2.88%, 02/07/2050		45		34
Reckitt Benckiser Treasury Services plc, (United Kingdom), Reg. S, 1.75%, 05/19/2032	GBP	1,675		1,755


				3,030

Pharmaceuticals — 0.4%
AbbVie, Inc.,
2.60%, 11/21/2024		490		475
3.20%, 11/21/2029		4,960		4,571
4.05%, 11/21/2039		50		45
4.25%, 11/21/2049		1,100		980
4.40%, 11/06/2042		25		23
4.50%, 05/14/2035		25		24
4.70%, 05/14/2045		25		24
AmerisourceBergen Corp.,
3.25%, 03/01/2025		40		39
3.45%, 12/15/2027		5		5
4.30%, 12/15/2047		25		23


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Pharmaceuticals — continued
Astrazeneca Finance LLC, 1.75%, 05/28/2028		80		71
Bayer AG, (Germany),
Reg. S, 0.38%, 01/12/2029	EUR	1,000		858
Reg. S, 0.63%, 07/12/2031	EUR	2,000		1,594
Reg. S, 1.38%, 07/06/2032	EUR	800		658
Bayer Capital Corp. BV, (Netherlands), Reg. S, 2.13%, 12/15/2029	EUR	300		284
Bristol-Myers Squibb Co.,
2.35%, 11/13/2040		75		56
2.55%, 11/13/2050		140		100
3.40%, 07/26/2029		1,033		999
3.90%, 03/15/2062		10		8
4.55%, 02/20/2048		8		8
Cardinal Health, Inc., 3.08%, 06/15/2024		10		10
Cigna Corp.,
2.40%, 03/15/2030		75		65
3.40%, 03/01/2027		2,800		2,697
4.90%, 12/15/2048		800		772
CVS Health Corp.,
1.30%, 08/21/2027		40		35
2.63%, 08/15/2024		60		59
4.78%, 03/25/2038		50		47
5.05%, 03/25/2048		1,305		1,257
5.13%, 07/20/2045		35		34
Eli Lilly & Co.,
0.63%, 11/01/2031	EUR	2,500		2,172
1.38%, 09/14/2061	EUR	675		392
2.13%, 06/03/2030	EUR	500		505
GlaxoSmithKline Capital plc, (United Kingdom),
5.25%, 12/19/2033	GBP	640		904
Reg. S, 5.25%, 04/10/2042	GBP	50		72
Johnson & Johnson,
2.10%, 09/01/2040		10		8
2.45%, 09/01/2060		70		48
3.40%, 01/15/2038		50		45
3.55%, 03/01/2036		15		14
McKesson Corp.,
0.90%, 12/03/2025		70		63
3.13%, 02/17/2029	GBP	925		1,064
Merck & Co., Inc.,
1.88%, 10/15/2026	EUR	1,000		1,030
1.90%, 12/10/2028		122		108
2.35%, 06/24/2040		50		38
2.75%, 12/10/2051		20		15
3.70%, 02/10/2045		60		53
4.00%, 03/07/2049		40		37
Merck Financial Services GmbH, (Germany), Reg. S, 0.01%, 12/15/2023	EUR	600		618
Merck KGaA, (Germany),
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.00%), 1.63%, 09/09/2080 (aa)	EUR	800		727
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.94%), 2.88%, 06/25/2079 (aa)	EUR	400		356


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Pharmaceuticals — continued
Mylan, Inc., 5.20%, 04/15/2048		30		24
Novartis Capital Corp.,
2.75%, 08/14/2050		171		134
3.10%, 05/17/2027		37		36
Pfizer, Inc., 0.80%, 05/28/2025		70		65
Roche Finance Europe BV, (Netherlands),
Reg. S, 0.50%, 02/27/2023	EUR	200		210
Reg. S, 0.88%, 02/25/2025	EUR	1,600		1,650
Sanofi, (France),
Reg. S, 2.50%, 11/14/2023	EUR	600		638
Series 20FX, Reg. S, 1.88%, 03/21/2038	EUR	400		352
Takeda Pharmaceutical Co. Ltd., (Japan), Reg. S, 3.00%, 11/21/2030	EUR	1,000		1,024
Upjohn Finance BV, (Netherlands), Reg. S, 1.91%, 06/23/2032	EUR	1,400		1,085
Utah Acquisition Sub, Inc., 3.95%, 06/15/2026		30		28
Viatris, Inc.,
3.85%, 06/22/2040		2,200		1,565
4.00%, 06/22/2050		50		33
Zoetis, Inc.,
3.90%, 08/20/2028		40		39
4.70%, 02/01/2043		65		62


				31,035

Total Consumer Non-cyclical				202,420

Energy — 1.0%
Energy — Alternate Sources — 0.0% (g)
ERG SpA, (Italy), Reg. S, 0.88%, 09/15/2031	EUR	700		567

Oil & Gas — 0.6%
Aker BP ASA, (Norway), 2.88%, 01/15/2026 (e)		1,400		1,325
BP Capital Markets plc, (United Kingdom),
Reg. S, 1.53%, 09/26/2022	EUR	175		184
Reg. S, 1.64%, 06/26/2029	EUR	1,000		951
Reg. S, (EUR Swap Rate 5 Year + 4.12%), 3.63%, 03/22/2029 (x) (aa)	EUR	1,300		1,135
Reg. S, (UK Gilts 5 Year + 4.17%), 4.25%, 03/22/2027 (x) (aa)	GBP	500		531
Canadian Natural Resources Ltd., (Canada),
2.95%, 01/15/2023		10		10
3.85%, 06/01/2027		41		39
4.95%, 06/01/2047		10		10
6.25%, 03/15/2038		122		130
6.50%, 02/15/2037		45		48
Cenovus Energy, Inc., (Canada), 4.40%, 04/15/2029		4,890		4,721
Cepsa Finance SA, (Spain), Reg. S, 2.25%, 02/13/2026	EUR	100		102
Chevron Corp.,
1.55%, 05/11/2025		75		71
2.24%, 05/11/2030		80		71


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Oil & Gas — continued
Chevron USA, Inc., 1.02%, 08/12/2027 (jj)		3,100		2,708
CNOOC Petroleum North America ULC, (Canada), 6.40%, 05/15/2037		60		66
ConocoPhillips,
4.88%, 10/01/2047		40		40
5.90%, 10/15/2032		223		245
5.90%, 05/15/2038		25		28
6.50%, 02/01/2039		75		88
ConocoPhillips Co.,
3.80%, 03/15/2052		40		34
4.03%, 03/15/2062 (e)		10		9
Continental Resources, Inc., 4.38%, 01/15/2028		30		28
Devon Energy Corp.,
5.00%, 06/15/2045		195		182
5.25%, 09/15/2024		8		8
5.60%, 07/15/2041		245		244
5.88%, 06/15/2028		1,750		1,787
Diamondback Energy, Inc., 3.13%, 03/24/2031		2,400		2,095
Eni SpA, (Italy),
Reg. S, 1.00%, 10/11/2034	EUR	1,000		788
Reg. S, 1.25%, 05/18/2026	EUR	1,400		1,401
Reg. S, 1.50%, 01/17/2027	EUR	1,400		1,399
EQT Corp.,
3.13%, 05/15/2026 (e)		80		75
3.90%, 10/01/2027		90		84
6.63%, 02/01/2025		30		31
7.50%, 02/01/2030		170		181
Equinor ASA, (Norway),
Reg. S, 1.38%, 05/22/2032	EUR	425		390
1.75%, 01/22/2026		200		186
2.38%, 05/22/2030		60		53
3.25%, 11/18/2049		30		24
3.63%, 04/06/2040		1,800		1,586
3.70%, 04/06/2050		15		13
Reg. S, 6.88%, 03/11/2031	GBP	50		75
Exxon Mobil Corp.,
0.14%, 06/26/2024	EUR	2,000		2,031
0.84%, 06/26/2032	EUR	550		459
1.41%, 06/26/2039	EUR	700		515
3.45%, 04/15/2051		155		128
Helmerich & Payne, Inc., 2.90%, 09/29/2031		700		602
Hess Corp.,
3.50%, 07/15/2024		10		10
5.80%, 04/01/2047		16		16
Lundin Energy Finance BV, (Netherlands),
2.00%, 07/15/2026 (e)		1,360		1,216
3.10%, 07/15/2031 (e)		1,585		1,315
Marathon Oil Corp.,
6.60%, 10/01/2037		50		53
6.80%, 03/15/2032		25		27


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Oil & Gas — continued
Marathon Petroleum Corp., 5.00%, 09/15/2054		25		23
MOL Hungarian Oil & Gas plc, (Hungary), Reg. S, 1.50%, 10/08/2027	EUR	2,700		2,312
Ovintiv Exploration, Inc., 5.38%, 01/01/2026		30		30
Petroleos Mexicanos, (Mexico),
(ICE LIBOR USD 3 Month + 0.43%), 1.84%, 02/15/2024 (aa)		525		525
1.95%, 12/20/2022		400		398
Pioneer Natural Resources Co., 1.90%, 08/15/2030		1,050		860
Polski Koncern Naftowy ORLEN SA, (Poland), Reg. S, 1.13%, 05/27/2028	EUR	700		569
Shell International Finance BV, (Netherlands),
Reg. S, 1.63%, 01/20/2027	EUR	2,000		2,032
3.00%, 11/26/2051		60		45
6.38%, 12/15/2038		15		17
TotalEnergies SE, (France),
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.00%, 06/04/2030 (x) (aa)	EUR	1,000		768
Reg. S, (EUR Swap Rate 5 Year + 2.75%), 2.71%, 05/05/2023 (x) (aa)	EUR	650		663
Reg. S, (EUR Swap Rate 5 Year + 3.35%), 3.37%, 10/06/2026 (x) (aa)	EUR	2,000		1,922
Series NC7, Reg. S, (EUR Swap Rate 5 Year + 1.99%), 1.63%, 10/25/2027 (x) (aa)	EUR	500		417
Series NC12, Reg. S, (EUR Swap Rate 5 Year + 2.51%), 2.13%, 07/25/2032 (x) (aa)	EUR	1,350		974
Valero Energy Corp., 4.00%, 06/01/2052		40		32
Var Energi ASA, (Norway), 5.00%, 05/18/2027 (e)		1,600		1,593


				42,728

Oil & Gas Services — 0.0% (g)
Baker Hughes Holdings LLC / Baker Hughes Co-Obligor, Inc., 4.08%, 12/15/2047		110		93
Schlumberger Finance BV, (Netherlands), Reg. S, 0.25%, 10/15/2027	EUR	500		466
Schlumberger Finance Canada Ltd., (Canada), 1.40%, 09/17/2025		30		28


				587

Pipelines — 0.4%
Cheniere Corpus Christi Holdings LLC,
3.70%, 11/15/2029		548		502
5.88%, 03/31/2025		240		246
Colonial Enterprises, Inc., 3.25%, 05/15/2030 (e)		1,330		1,210
Columbia Pipeline Group, Inc., 4.50%, 06/01/2025		20		20


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Pipelines — continued
Enbridge, Inc., (Canada),
2.50%, 08/01/2033		50		41
2.90%, 07/15/2022		20		20
3.40%, 08/01/2051		20		15
4.00%, 10/01/2023		100		100
Energy Transfer LP,
2.90%, 05/15/2025		80		76
4.05%, 03/15/2025		125		123
4.20%, 04/15/2027		5,800		5,577
5.30%, 04/15/2047		35		30
5.35%, 05/15/2045		10		9
5.40%, 10/01/2047		52		46
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa)		1,490		1,317
Enterprise Products Operating LLC,
3.30%, 02/15/2053		55		40
3.75%, 02/15/2025		50		49
3.90%, 02/15/2024		50		50
4.20%, 01/31/2050		40		34
5.10%, 02/15/2045		1,700		1,607
(ICE LIBOR USD 3 Month + 2.57%), 5.38%, 02/15/2078 (aa)		600		475
Erdoel-Lagergesellschaft mbH, (Austria), Reg. S, 2.75%, 03/20/2028	EUR	200		218
Kinder Morgan Energy Partners LP,
4.30%, 05/01/2024		3,200		3,209
4.70%, 11/01/2042		850		717
Kinder Morgan, Inc.,
1.75%, 11/15/2026		90		80
3.60%, 02/15/2051		35		26
Magellan Midstream Partners LP,
3.95%, 03/01/2050		940		746
5.00%, 03/01/2026		10		10
MPLX LP,
2.65%, 08/15/2030		1,775		1,485
4.50%, 04/15/2038		75		66
4.70%, 04/15/2048		1,293		1,094
4.88%, 06/01/2025		2,370		2,384
4.90%, 04/15/2058		40		33
4.95%, 03/14/2052		885		774
5.20%, 03/01/2047		10		9
5.50%, 02/15/2049		120		112
ONEOK Partners LP,
4.90%, 03/15/2025		80		81
6.13%, 02/01/2041		24		23
ONEOK, Inc.,
2.20%, 09/15/2025		1,000		932
2.75%, 09/01/2024		110		106
3.40%, 09/01/2029		60		53
4.45%, 09/01/2049		2,422		1,941
5.20%, 07/15/2048		35		31
5.85%, 01/15/2026		70		73
6.35%, 01/15/2031		70		73
7.15%, 01/15/2051		20		21


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Pipelines — continued
Plains All American Pipeline LP / PAA Finance Corp.,
3.55%, 12/15/2029		65		57
5.15%, 06/01/2042		1,600		1,358
Sabine Pass Liquefaction LLC, 5.88%, 06/30/2026		70		73
Targa Resources Corp.,
4.20%, 02/01/2033		25		23
4.95%, 04/15/2052		50		43
5.20%, 07/01/2027 (w)		965		970
Targa Resources Partners LP / Targa Resources Partners Finance Corp.,
4.00%, 01/15/2032		200		171
4.88%, 02/01/2031		323		295
5.00%, 01/15/2028		99		94
TransCanada PipeLines Ltd., (Canada), 6.20%, 10/15/2037		60		65
Transcontinental Gas Pipe Line Co. LLC,
3.25%, 05/15/2030		80		72
4.00%, 03/15/2028		20		20
7.85%, 02/01/2026		70		77
Vier Gas Transport GmbH, (Germany), Reg. S, 0.50%, 09/10/2034	EUR	400		271
Williams Cos., Inc. (The),
3.50%, 11/15/2030		1,900		1,717
3.50%, 10/15/2051		130		97
4.50%, 11/15/2023		80		80
5.10%, 09/15/2045		69		65
5.80%, 11/15/2043		15		15


				31,447

Total Energy				75,329

Financial — 7.0%
Banks — 4.6%
Abanca Corp. Bancaria SA, (Spain), Reg. S, 0.75%, 05/28/2029	EUR	100		95
ABN AMRO Bank NV, (Netherlands),
Reg. S, 0.40%, 09/17/2041	EUR	100		71
Reg. S, 0.60%, 01/15/2027	EUR	1,600		1,503
Reg. S, 0.88%, 01/14/2026	EUR	100		102
Reg. S, 1.25%, 01/10/2033	EUR	100		94
Reg. S, 1.38%, 01/12/2037	EUR	100		90
Reg. S, 1.45%, 04/12/2038	EUR	100		90
Reg. S, 1.50%, 09/30/2030	EUR	200		200
Aegon Bank NV, (Netherlands), Reg. S, 0.01%, 11/16/2025	EUR	100		99
Aktia Bank OYJ, (Finland), Reg. S, 0.38%, 05/30/2023	EUR	100		104
AMCO—Asset Management Co. SpA, (Italy),
Reg. S, 0.75%, 04/20/2028	EUR	163		147
Reg. S, 1.38%, 01/27/2025	EUR	100		102
ANZ New Zealand Int’l Ltd., (New Zealand), Reg. S, 0.13%, 09/22/2023	EUR	100		104


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Argenta Spaarbank NV, (Belgium), Reg. S, 0.01%, 02/11/2031	EUR	100		87
Arion Banki HF, (Iceland),
Reg. S, 0.05%, 10/05/2026	EUR	100		96
Reg. S, 0.38%, 07/14/2025	EUR	2,050		1,939
Arkea Public Sector SCF SA, (France), Reg. S, 0.13%, 01/15/2030	EUR	100		90
ASB Finance Ltd., (New Zealand),
Reg. S, 0.25%, 09/08/2028	EUR	500		430
Reg. S, 0.63%, 10/18/2024	EUR	100		103
Australia & New Zealand Banking Group Ltd., (Australia), Reg. S, (EUR Swap Rate 5 Year + 1.12%), 0.67%, 05/05/2031 (aa)	EUR	1,525		1,381
Banca Carige SpA, (Italy), Reg. S, 0.63%, 10/28/2028	EUR	100		95
Banca Monte dei Paschi di Siena SpA, (Italy),
Reg. S, 0.88%, 10/08/2026	EUR	3,504		3,466
Reg. S, 2.00%, 01/29/2024	EUR	100		106
Series 16, Reg. S, 2.88%, 07/16/2024	EUR	100		107
Banco Bilbao Vizcaya Argentaria SA, (Spain),
0.88%, 09/18/2023		200		193
Reg. S, 0.88%, 11/22/2026	EUR	100		101
Reg. S, (ICE LIBOR EUR 3 Month + 0.82%), 0.88%, 01/14/2029 (aa)	EUR	1,800		1,592
Banco BPM SpA, (Italy), Reg. S, 1.00%, 01/23/2025	EUR	100		103
Banco de Sabadell SA, (Spain),
Reg. S, (EUR Swap Rate 1 Year + 0.97%), 0.63%, 11/07/2025 (aa)	EUR	1,900		1,868
Reg. S, 1.00%, 04/26/2027	EUR	100		100
Reg. S, (EUR Swap Rate 1 Year + 1.55%), 1.13%, 03/11/2027 (aa)	EUR	1,000		958
Reg. S, (EUR Swap Rate 1 Year + 2.20%), 2.63%, 03/24/2026 (aa)	EUR	1,500		1,491
Banco di Desio e della Brianza SpA, (Italy), Reg. S, 0.88%, 09/12/2024	EUR	100		103
Banco Santander SA, (Spain),
Reg. S, 0.10%, 02/27/2032	EUR	200		167
Reg. S, 0.20%, 02/11/2028	EUR	1,000		888
Reg. S, 1.00%, 04/07/2025	EUR	200		206
Reg. S, 1.13%, 10/25/2028	EUR	100		99
Reg. S, 1.38%, 01/05/2026	EUR	100		99
Reg. S, 1.63%, 10/22/2030	EUR	1,000		823
(CMT Index 1 Year + 0.90%), 1.72%, 09/14/2027 (aa)		200		174
Reg. S, 1.75%, 02/17/2027	GBP	500		539
1.85%, 03/25/2026		200		180
3.49%, 05/28/2030		2,000		1,773
3.50%, 03/24/2025		200		196
3.80%, 02/23/2028		200		187
3.89%, 05/24/2024		3,800		3,783


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Bank of America Corp.,
Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.81%, 05/09/2026 (aa)	EUR	1,000		990
(United States SOFR + 0.74%), 0.81%, 10/24/2024 (aa)		240		229
(United States SOFR + 0.91%), 0.98%, 09/25/2025 (aa)		177		164
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 1.10%, 05/24/2032 (aa)	EUR	1,300		1,098
(United States SOFR + 0.65%), 1.53%, 12/06/2025 (aa)		25		23
(United States SOFR + 0.96%), 1.73%, 07/22/2027 (aa)		1,465		1,307
(United States SOFR + 1.06%), 2.09%, 06/14/2029 (aa)		2,900		2,487
(United States SOFR + 1.22%), 2.30%, 07/21/2032 (aa)		1,000		810
(ICE LIBOR USD 3 Month + 0.99%), 2.50%, 02/13/2031 (aa)		3,300		2,800
(United States SOFR + 1.21%), 2.57%, 10/20/2032 (aa)		2,605		2,155
(United States SOFR + 1.93%), 2.68%, 06/19/2041 (aa)		1,920		1,388
(United States SOFR + 1.32%), 2.69%, 04/22/2032 (aa)		2,150		1,810
(ICE LIBOR USD 3 Month + 0.79%), 3.00%, 12/20/2023 (aa)		250		249
(ICE LIBOR USD 3 Month + 1.09%), 3.09%, 10/01/2025 (aa)		10		10
(United States SOFR + 1.58%), 3.31%, 04/22/2042 (aa)		60		47
(ICE LIBOR USD 3 Month + 1.04%), 3.42%, 12/20/2028 (aa)		350		326
(ICE LIBOR USD 3 Month + 0.97%), 3.46%, 03/15/2025 (aa)		25		25
(ICE LIBOR USD 3 Month + 0.78%), 3.55%, 03/05/2024 (aa)		25		25
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa)		180		179
(ICE LIBOR USD 3 Month + 0.94%), 3.86%, 07/23/2024 (aa)		120		120
4.00%, 01/22/2025		4,200		4,185
(ICE LIBOR USD 3 Month + 1.32%), 4.08%, 04/23/2040 (aa)		100		88
(ICE LIBOR USD 3 Month + 3.15%), 4.08%, 03/20/2051 (aa)		135		117
(ICE LIBOR USD 3 Month + 1.52%), 4.33%, 03/15/2050 (aa)		115		104
4.88%, 04/01/2044		50		48
5.00%, 01/21/2044		20		19
Reg. S, 7.00%, 07/31/2028	GBP	350		496
Series N, (United States SOFR + 1.22%), 2.65%, 03/11/2032 (aa)		1,000		843


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Series N, (United States SOFR + 1.65%), 3.48%, 03/13/2052 (aa)		40		32
Series RR, (CMT Index 5 Year + 2.76%), 4.38%, 01/27/2027 (x) (aa)		1,650		1,369
Bank of Ireland Group plc, (Ireland), Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.10%), 1.88%, 06/05/2026 (aa)	EUR	1,500		1,495
Bank of Montreal, (Canada),
Reg. S, 0.05%, 06/08/2029	EUR	100		91
Reg. S, 0.10%, 10/20/2023	EUR	100		103
Reg. S, 1.00%, 04/05/2026	EUR	100		102
1.85%, 05/01/2025		120		114
Bank of New Zealand, (New Zealand),
Reg. S, 0.01%, 06/15/2028	EUR	100		92
Reg. S, 2.55%, 06/29/2027	EUR	100		107
Bank of Nova Scotia (The), (Canada),
Reg. S, 0.01%, 01/14/2027	EUR	100		96
Reg. S, 0.01%, 12/15/2027	EUR	100		94
Reg. S, 0.25%, 09/28/2022	EUR	100		105
Reg. S, 0.38%, 10/23/2023	EUR	100		104
Reg. S, 0.38%, 03/26/2030	EUR	100		91
0.70%, 04/15/2024		140		133
1.05%, 03/02/2026		170		152
Bankinter SA, (Spain), Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.25%, 12/23/2032 (aa)	EUR	600		511
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 0.50%, 11/16/2022	EUR	1,200		1,259
Reg. S, 0.75%, 06/15/2023	EUR	100		104
Reg. S, 1.88%, 11/04/2026	EUR	1,200		1,158
Barclays Bank plc, (United Kingdom), Reg. S, 5.75%, 09/14/2026	GBP	90		113
Barclays plc, (United Kingdom),
Reg. S, (ICE LIBOR EUR 1 Year + 0.85%), 0.88%, 01/28/2028 (aa)	EUR	4,800		4,395
(CMT Index 1 Year + 0.80%), 1.01%, 12/10/2024 (aa)		200		190
Reg. S, (EUR Swap Rate 5 Year + 1.90%), 2.00%, 02/07/2028 (aa)	EUR	1,700		1,760
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.68%), 2.89%, 01/31/2027 (aa)		EUR 1,650		1,681
Reg. S, 3.25%, 02/12/2027	GBP	600		685
Reg. S, (UK Gilts 5 Year + 3.75%), 3.75%, 11/22/2030 (aa)	GBP	425		486
Basellandschaftliche Kantonalbank, (Switzerland), Reg. S, 0.38%, 05/13/2030	CHF	100		94
Bausparkasse Schwaebisch Hall AG, (Germany), Reg. S, 2.00%, 05/17/2034	EUR	100		100
BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG, (Austria),
Reg. S, 0.01%, 01/21/2028	EUR	100		94


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Reg. S, 0.10%, 05/12/2031	EUR	100		87
Reg. S, 1.13%, 07/31/2028	EUR	100		99
Bayerische Landesbank, (Germany),
Reg. S, 0.13%, 11/02/2029	EUR	100		91
Reg. S, 0.25%, 01/14/2025	EUR	100		102
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.38%, 11/22/2032 (aa)	EUR	100		87
Belfius Bank SA, (Belgium), Reg. S, 0.13%, 01/28/2030	EUR	100		90
Berlin Hyp AG, (Germany),
Reg. S, 0.01%, 08/24/2026	EUR	50		49
Reg. S, 0.01%, 07/07/2028	EUR	100		93
Reg. S, 1.75%, 05/10/2032	EUR	100		100
Series 200, Reg. S, 0.38%, 02/21/2025	EUR	100		102
BNP Paribas SA, (France),
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 0.50%, 09/01/2028 (aa)	EUR	1,100		985
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.13%, 01/15/2032 (aa)	EUR	800		716
(United States SOFR + 1.00%), 1.32%, 01/13/2027 (e) (aa)		1,200		1,061
Reg. S, 1.38%, 05/28/2029	EUR	100		90
(United States SOFR + 0.91%), 1.68%, 06/30/2027 (e) (aa)		1,250		1,103
(United States SOFR + 1.61%), 1.90%, 09/30/2028 (e) (aa)		1,100		942
Reg. S, (EUR Swap Rate 1 Year + 1.60%), 2.50%, 03/31/2032 (aa)	EUR	1,700		1,619
(United States SOFR + 1.39%), 2.87%, 04/19/2032 (e) (aa)		1,665		1,386
(United States SOFR + 1.51%), 3.05%, 01/13/2031 (e) (aa)		1,800		1,557
Reg. S, 3.38%, 01/23/2026	GBP	600		708
BNZ International Funding Ltd., (New Zealand), Reg. S, 0.38%, 09/14/2024	EUR	1,450		1,466
BPCE SA, (France),
Reg. S, 0.25%, 01/15/2026	EUR	600		581
Reg. S, 0.25%, 01/14/2031	EUR	1,000		808
Reg. S, 0.50%, 02/24/2027	EUR	1,300		1,199
Reg. S, 0.88%, 01/31/2024	EUR	1,200		1,235
(United States SOFR + 1.52%), 1.65%, 10/06/2026 (e) (aa)		1,145		1,026
4.63%, 07/11/2024 (e)		1,200		1,192
Caisse Centrale du Credit Immobilier de France SA, (France), Reg. S, 0.00%, 01/17/2024	EUR	200		207
Caixa Economica Montepio Geral Caixa Economica Bancaria SA, (Portugal), Reg. S, 0.13%, 11/14/2024	EUR	100		101
CaixaBank SA, (Spain),
Reg. S, (ICE LIBOR EUR 3 Month + 1.00%), 0.75%, 05/26/2028 (aa)	EUR	1,100		993


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, 1.00%, 09/25/2025	EUR	300		307
Reg. S, 1.25%, 01/11/2027	EUR	200		203
Canadian Imperial Bank of Commerce, (Canada),
Reg. S, 0.01%, 04/30/2029	EUR	100		91
Reg. S, 0.04%, 07/09/2027	EUR	100		95
Reg. S, 0.10%, 10/24/2023	CHF	50		52
0.45%, 06/22/2023		110		107
3.10%, 04/02/2024		25		25
3.30%, 04/07/2025		140		137
Cie de Financement Foncier SA, (France),
Reg. S, 0.01%, 07/15/2026	EUR	200		196
Reg. S, 0.23%, 09/14/2026	EUR	100		98
Reg. S, 0.25%, 04/11/2023	EUR	100		104
Reg. S, 0.50%, 09/04/2024	EUR	100		103
Reg. S, 0.50%, 03/16/2028	EUR	100		96
Reg. S, 0.60%, 10/25/2041	EUR	100		75
Reg. S, 0.75%, 05/29/2026	EUR	100		101
Reg. S, 3.88%, 04/25/2055	EUR	45		62
Citigroup, Inc.,
(United States SOFR + 0.69%), 0.78%, 10/30/2024 (aa)		262		250
(United States SOFR + 0.67%), 0.98%, 05/01/2025 (aa)		440		413
(United States SOFR + 0.77%), 1.12%, 01/28/2027 (aa)		130		115
(United States SOFR + 0.77%), 1.46%, 06/09/2027 (aa)		3,250		2,877
Reg. S, (ICE LIBOR EUR 3 Month + 1.07%), 1.50%, 07/24/2026 (aa)	EUR	3,400		3,412
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa)		90		84
(United States SOFR + 1.18%), 2.52%, 11/03/2032 (aa)		465		378
(United States SOFR + 1.17%), 2.56%, 05/01/2032 (aa)		1,060		875
(United States SOFR + 2.11%), 2.57%, 06/03/2031 (aa)		3,600		3,034
(United States SOFR + 1.38%), 2.90%, 11/03/2042 (aa)		100		73
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa)		155		149
(ICE LIBOR USD 3 Month + 0.90%), 3.35%, 04/24/2025 (aa)		65		64
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 07/24/2028 (aa)		250		236
(United States SOFR + 1.37%), 4.14%, 05/24/2025 (aa)		35		35
(ICE LIBOR USD 3 Month + 1.84%), 4.28%, 04/24/2048 (aa)		60		54
4.40%, 06/10/2025		3,500		3,498
4.65%, 07/30/2045		10		9
4.65%, 07/23/2048		25		23


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
(United States SOFR + 2.09%), 4.91%, 05/24/2033 (aa)		1,790		1,767
6.00%, 10/31/2033		50		52
Clydesdale Bank plc, (United Kingdom),
Reg. S, 2.50%, 06/22/2027	EUR	100		107
Reg. S, 4.63%, 06/08/2026	GBP	100		131
Commerzbank AG, (Germany),
Reg. S, 0.01%, 03/11/2030	EUR	100		89
Reg. S, 0.25%, 01/12/2032	EUR	100		87
Reg. S, 0.50%, 06/09/2026	EUR	100		100
Reg. S, 2.00%, 11/27/2023	EUR	100		106
Commonwealth Bank of Australia, (Australia),
Reg. S, 0.75%, 02/28/2028	EUR	100		97
Reg. S, 0.88%, 02/19/2029	EUR	100		97
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.94%, 10/03/2029 (aa)	EUR	1,425		1,435
Cooperatieve Rabobank UA, (Netherlands),
Reg. S, 0.01%, 07/02/2030	EUR	100		89
Reg. S, 0.01%, 11/27/2040	EUR	100		66
Reg. S, 0.63%, 04/26/2026	EUR	100		101
Reg. S, 0.75%, 03/02/2032	EUR	100		91
Reg. S, 0.88%, 02/08/2028	EUR	100		99
Reg. S, 1.25%, 03/23/2026	EUR	775		787
Reg. S, 1.38%, 02/03/2027	EUR	25		25
Reg. S, 2.38%, 05/22/2023	EUR	30		32
4.38%, 08/04/2025		250		248
Reg. S, 5.25%, 05/23/2041	GBP	50		71
Credit Agricole Italia SpA, (Italy),
Reg. S, 0.13%, 03/15/2033	EUR	100		79
Reg. S, 0.25%, 09/30/2024	EUR	100		102
Reg. S, 0.25%, 01/17/2028	EUR	100		94
Reg. S, 0.38%, 01/20/2032	EUR	100		85
Credit Agricole SA, (France),
Reg. S, 0.38%, 04/20/2028	EUR	1,000		878
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 1.00%, 04/22/2026 (aa)	EUR	3,000		2,981
Reg. S, (EUR Swap Rate 5 Year + 1.90%), 1.63%, 06/05/2030 (aa)	EU	R 2,100		2,052
Reg. S, 1.75%, 03/05/2029	EUR	100		93
Reg. S, (UK Gilts 5 Year + 1.50%), 1.87%, 12/09/2031 (aa)	GBP	300		312
Reg. S, 2.38%, 05/20/2024	EUR	100		106
Credit Suisse AG, (Switzerland),
Reg. S, 0.25%, 09/01/2028	EUR	2,500		2,096
3.70%, 02/21/2025		250		245
Credit Suisse Group AG, (Switzerland),
Reg. S, (EUR Swap Rate 1 Year + 0.75%), 1.25%, 07/17/2025 (aa)	EUR	1,400		1,394
Reg. S, (EUR Swap Rate 1 Year + 1.95%), 2.88%, 04/02/2032 (aa)	EUR	1,150		1,012
(United States SOFR + 1.73%), 3.09%, 05/14/2032 (e) (aa)		755		603


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Credit Suisse Schweiz AG, (Switzerland), Reg. S, 0.00%, 10/31/2030	CHF	25		22
Credito Emiliano SpA, (Italy), Reg. S, 0.01%, 07/07/2028	EUR	100		92
Danske Bank A/S, (Denmark),
Reg. S, 0.25%, 11/28/2022	EUR	425		445
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 0.50%, 08/27/2025 (aa)	EUR	425		424
(CMT Index 1 Year + 1.03%), 1.17%, 12/08/2023 (e) (aa)		850		839
Reg. S, (UK Gilts 1 Year + 1.65%), 2.25%, 01/14/2028 (aa)	GBP	2,000		2,196
Danske Hypotek AB, (Sweden), Series 2512, Reg. S, 1.00%, 12/17/2025	SEK	2,000		183
Danske Mortgage Bank plc, (Finland), Reg. S, 0.01%, 11/24/2026	EUR	100		97
de Volksbank NV, (Netherlands), Reg. S, 1.00%, 03/08/2028	EUR	100		100
Deutsche Apotheker-und Aerztebank eG, (Germany), Reg. S, 0.01%, 02/06/2029	EUR	100		92
Deutsche Bank AG, (Germany),
Reg. S, 0.13%, 01/21/2030	EUR	75		68
Reg. S, 0.25%, 03/08/2024	EUR	100		103
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 1.00%, 11/19/2025 (aa)	EUR	400		395
Reg. S, 1.13%, 08/30/2023	EUR	775		808
Reg. S, 1.13%, 03/17/2025	EUR	400		400
Reg. S, (ICE LIBOR EUR 3 Month + 1.38%), 1.88%, 02/23/2028 (aa)	EUR	1,500		1,417
(United States SOFR + 1.87%), 2.13%, 11/24/2026 (aa)		2,950		2,622
(United States SOFR + 1.22%), 2.31%, 11/16/2027 (aa)		150		130
(United States SOFR + 1.32%), 2.55%, 01/07/2028 (aa)		275		238
3.70%, 05/30/2024		100		98
3.95%, 02/27/2023		2,700		2,695
Deutsche Kreditbank AG, (Germany),
Reg. S, 0.01%, 11/07/2029	EUR	50		45
Reg. S, 1.63%, 05/05/2032	EUR	100		100
Deutsche Pfandbriefbank AG, (Germany),
Reg. S, 0.63%, 08/30/2027	EUR	100		99
Reg. S, 1.00%, 04/13/2026	EUR	100		102
Dexia Credit Local SA, (France),
Reg. S, 0.00%, 05/29/2024	EUR	300		307
Reg. S, 0.01%, 01/22/2027	EUR	200		194
Reg. S, 0.63%, 01/17/2026	EUR	600		607
Reg. S, 1.25%, 11/26/2024	EUR	700		731
Reg. S, 2.13%, 02/12/2025	GBP	400		480
Discover Bank, 3.45%, 07/27/2026		1,200		1,135
DNB Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 01/21/2031	EUR	100		87
Reg. S, 0.25%, 01/23/2023	EUR	200		209


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Reg. S, 0.38%, 11/20/2024	EUR	100		102
Reg. S, 1.88%, 11/21/2022	EUR	100		106
DZ HYP AG, (Germany),
Reg. S, 0.01%, 06/23/2028	EUR	100		94
Reg. S, 0.01%, 10/27/2028	EUR	25		23
Reg. S, 0.01%, 11/15/2030	EUR	100		88
Reg. S, 0.63%, 10/27/2023	EUR	200		208
Reg. S, 0.88%, 04/17/2034	EUR	100		88
Series 1248, Reg. S, 1.63%, 05/30/2031	EUR	100		100
Eika Boligkreditt A/S, (Norway), Reg. S, 0.38%, 02/26/2025	EUR	100		102
Equitable Bank, (Canada), Reg. S, 0.01%, 09/16/2024	EUR	100		101
Erste Group Bank AG, (Austria),
Reg. S, 0.25%, 06/26/2024	EUR	100		102
Reg. S, 0.50%, 01/12/2037	EUR	100		78
Reg. S, 0.75%, 02/05/2025	EUR	100		103
Eurocaja Rural SCC, (Spain), Reg. S, 0.13%, 09/22/2031	EUR	100		86
Federation des Caisses Desjardins du Quebec, (Canada), Reg. S, 0.01%, 04/08/2026	EUR	100		98
Fifth Third Bancorp, (United States SOFR + 0.69%), 1.71%, 11/01/2027 (aa)		80		71
First Republic Bank, (United States SOFR + 0.62%), 1.91%, 02/12/2024 (aa)		250		247
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.61%), 0.86%, 02/12/2026 (aa)		28		25
Reg. S, 0.88%, 05/09/2029	EUR	2,000		1,743
(United States SOFR + 0.79%), 1.09%, 12/09/2026 (aa)		135		120
Reg. S, 1.38%, 05/15/2024	EUR	1,650		1,717
(United States SOFR + 0.80%), 1.43%, 03/09/2027 (aa)		1,310		1,163
(United States SOFR + 0.73%), 1.76%, 01/24/2025 (aa)		120		116
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa)		1,815		1,616
(United States SOFR + 1.25%), 2.38%, 07/21/2032 (aa)		695		564
2.60%, 02/07/2030		3,395		2,903
(United States SOFR + 1.28%), 2.62%, 04/22/2032 (aa)		4,115		3,426
(United States SOFR + 1.26%), 2.65%, 10/21/2032 (aa)		700		578
(United States SOFR + 1.47%), 2.91%, 07/21/2042 (aa)		315		231
Reg. S, 3.13%, 07/25/2029	GBP	800		900
(ICE LIBOR USD 3 Month + 1.20%), 3.27%, 09/29/2025 (aa)		2,500		2,431
3.50%, 04/01/2025		47		46
(ICE LIBOR USD 3 Month + 1.37%), 4.02%, 10/31/2038 (aa)		60		53


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
5.15%, 05/22/2045		21		20
6.25%, 02/01/2041		50		56
6.75%, 10/01/2037		50		56
6.88%, 01/18/2038	GBP	425		582
Heta Asset Resolution AG, (Austria), Reg. S, 2.38%, 12/13/2022	EUR	800		846
HSBC Bank Canada, (Canada), Reg. S, 1.50%, 09/15/2027	EUR	100		102
HSBC Bank plc, (United Kingdom), Reg. S, 6.25%, 01/30/2041	GBP	175		224
HSBC Holdings plc, (United Kingdom),
Reg. S, (ICE LIBOR EUR 3 Month + 1.03%), 0.77%, 11/13/2031 (aa)	EUR	1,000		811
(United States SOFR + 0.58%), 1.16%, 11/22/2024 (aa)		200		191
(United States SOFR + 1.29%), 1.59%, 05/24/2027 (aa)		200		176
(United States SOFR + 1.54%), 1.65%, 04/18/2026 (aa)		1,000		918
(SONIA Interest Rate Benchmark + 1.31%), 1.75%, 07/24/2027 (aa)	GBP	800		874
(United States SOFR + 1.43%), 3.00%, 03/10/2026 (aa)		200		191
(GBP Swap Rate 1 Year + 1.65%), 3.00%, 07/22/2028 (aa)	GBP	1,000		1,133
(GBP Swap Rate 1 Year + 1.77%), 3.00%, 05/29/2030 (aa)	GBP	225		245
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 3.02%, 06/15/2027 (aa)	EUR	2,175		2,250
(ICE LIBOR USD 3 Month + 0.99%), 3.95%, 05/18/2024 (aa)		200		199
(ICE LIBOR USD 3 Month + 1.61%), 3.97%, 05/22/2030 (aa)		900		828
(United States SOFR + 2.53%), 4.76%, 03/29/2033 (aa)		200		185
Reg. S, 7.00%, 04/07/2038	GBP	300		385
Iccrea Banca SpA, (Italy), Reg. S, 0.01%, 09/23/2028	EUR	100		92
ING Bank NV, (Netherlands),
Reg. S, 0.13%, 12/08/2031	EUR	100		86
Reg. S, 0.75%, 02/18/2029	EUR	100		97
Reg. S, 1.88%, 05/22/2023	EUR	100		106
ING Belgium SA, (Belgium), Reg. S, 0.01%, 02/20/2030	EUR	100		89
ING Groep NV, (Netherlands),
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 0.10%, 09/03/2025 (aa)	EUR	1,500		1,481
Reg. S, (EUR Swap Rate 5 Year + 1.15%), 1.00%, 11/16/2032 (aa)	EUR	1,500		1,299
Reg. S, 1.13%, 02/14/2025	EUR	1,200		1,214
Reg. S, (SONIA Interest Rate Benchmark + 0.91%), 1.13%, 12/07/2028 (aa)	GBP	900		916


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
(United States SOFR + 1.01%), 1.73%, 04/01/2027 (aa)		1,265		1,131
Reg. S, 2.00%, 09/20/2028	EUR	300		287
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.13%, 05/26/2031 (aa)	EUR	300		290
Reg. S, (EUR Swap Rate 5 Year + 2.85%), 3.00%, 04/11/2028 (aa)	EUR	300		315
(United States SOFR + 1.83%), 4.02%, 03/28/2028 (aa)		1,560		1,488
4.10%, 10/02/2023		200		201
(United States SOFR + 2.07%), 4.25%, 03/28/2033 (aa)		885		828
ING-DiBa AG, (Germany), Reg. S, 0.01%, 10/07/2028	EUR	200		186
Intesa Sanpaolo SpA, (Italy),
Reg. S, 0.38%, 09/14/2026	EUR	100		99
Reg. S, 0.63%, 03/23/2023	EUR	100		105
Reg. S, 1.50%, 04/10/2024	EUR	1,600		1,660
Reg. S, 2.13%, 05/26/2025	EUR	2,275		2,323
Reg. S, 3.38%, 01/24/2025	EUR	100		110
Series XR, 3.25%, 09/23/2024 (e)		2,900		2,810
Investitionsbank Berlin, (Germany), Series 208, 0.05%, 03/02/2035	EUR	100		79
Jyske Bank A/S, (Denmark), Reg. S, (EUR Swap Rate 1 Year + 0.50%), 0.05%, 09/02/2026 (aa)	EUR	1,750		1,675
KBC Bank NV, (Belgium), Reg. S, 0.38%, 09/01/2022	EUR	100		105
Kookmin Bank, (South Korea),
Reg. S, 0.05%, 07/15/2025	EUR	100		100
Reg. S, 2.38%, 01/27/2026	EUR	100		106
Kreditanstalt fuer Wiederaufbau, (Germany),
0.00%, 09/15/2023	EUR	380		395
Reg. S, 0.00%, 02/18/2025	EUR	120		122
Reg. S, 0.00%, 06/15/2026	EUR	500		496
Reg. S, 0.00%, 03/31/2027	EUR	500		488
Reg. S, 0.00%, 04/30/2027	EUR	2,230		2,172
Reg. S, 0.00%, 09/15/2028	EUR	585		554
Reg. S, 0.00%, 06/15/2029	EUR	254		235
Reg. S, 0.00%, 09/17/2030	EUR	1,108		995
Reg. S, 0.00%, 01/10/2031	EUR	670		597
Reg. S, 0.01%, 05/05/2027	EUR	520		506
0.05%, 02/28/2024	EUR	500		517
Reg. S, 0.05%, 09/29/2034	EUR	280		226
0.25%, 09/15/2025	EUR	1,100		1,118
0.38%, 07/18/2025		200		184
Reg. S, 0.38%, 04/23/2030	EUR	360		336
Reg. S, 0.38%, 05/20/2036	EUR	548		443
Reg. S, 0.50%, 09/28/2026	EUR	520		525
0.50%, 09/15/2027	EUR	500		495
Reg. S, 0.88%, 07/04/2039	EUR	40		33
Reg. S, 1.00%, 12/15/2022	GBP	1,650		2,002
Reg. S, 1.13%, 06/15/2037	EUR	340		301


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Reg. S, 1.38%, 12/15/2025	GBP	225		264
Reg. S, 1.38%, 07/31/2035	EUR	202		190
2.00%, 05/02/2025		195		189
2.13%, 08/15/2023	EUR	1,100		1,173
2.38%, 12/29/2022		275		275
4.70%, 06/02/2037	CAD	100		82
Reg. S, 4.88%, 03/15/2037	GBP	425		640
6.00%, 12/07/2028	GBP	2,500		3,691
Kutxabank SA, (Spain), Reg. S, 1.25%, 09/22/2025	EUR	100		103
La Banque Postale SA, (France),
Reg. S, 0.25%, 07/12/2026	EUR	200		192
Reg. S, 0.75%, 06/23/2031	EUR	100		80
Reg. S, 1.38%, 04/24/2029	EUR	200		183
Reg. S, (EUR Swap Rate 5 Year + 2.25%), 2.75%, 11/19/2027 (aa)	EUR	2,000		2,102
Landesbank Baden-Wuerttemberg, (Germany),
Reg. S, 0.38%, 02/18/2027	EUR	200		185
Reg. S, 0.88%, 09/15/2025	EUR	100		102
Series 809, Reg. S, 0.38%, 07/29/2026	EUR	100		95
Landesbank Hessen-Thueringen Girozentrale, (Germany),
Reg. S, 0.38%, 06/04/2029	EUR	100		86
Reg. S, 0.50%, 01/19/2037	EUR	100		79
Reg. S, 0.63%, 01/12/2027	EUR	200		200
Landeskreditbank Baden-Wuerttemberg Foerderbank, (Germany), Reg. S, 0.38%, 02/25/2027	EUR	400		395
Landwirtschaftliche Rentenbank, (Germany),
Reg. S, 0.00%, 09/28/2026	EUR	535		526
Reg. S, 0.00%, 11/27/2029	EUR	770		704
Reg. S, 0.05%, 12/18/2029	EUR	180		164
Reg. S, 0.10%, 03/08/2027	EUR	200		196
Reg. S, 0.25%, 08/29/2025	EUR	300		304
Reg. S, 0.38%, 02/14/2028	EUR	1,140		1,112
Reg. S, 0.63%, 02/20/2030	EUR	140		133
Reg. S, 0.63%, 10/31/2036	EUR	75		62
Liberbank SA, (Spain), Reg. S, 0.25%, 09/25/2029	EUR	100		90
Lloyds Bank plc, (United Kingdom),
Reg. S, 0.13%, 06/18/2026	EUR	100		98
Reg. S, 0.25%, 03/25/2024	EUR	100		103
Reg. S, 6.00%, 02/08/2029	GBP	100		144
Reg. S, 6.50%, 09/17/2040	GBP	300		471
Reg. S, 7.63%, 04/22/2025	GBP	600		785
Lloyds Banking Group plc, (United Kingdom),
(CMT Index 1 Year + 0.55%), 0.70%, 05/11/2024 (aa)		200		194
(UK Gilts 5 Year + 1.60%), 1.99%, 12/15/2031 (aa)	GBP	1,000		1,044
3.90%, 03/12/2024		2,500		2,485


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Mediobanca Banca di Credito Finanziario SpA, (Italy),
Reg. S, 0.75%, 07/15/2027	EUR	425		388
Reg. S, 1.13%, 07/15/2025	EUR	975		962
Reg. S, 2.38%, 06/30/2027	EUR	100		105
Series 4, Reg. S, 1.38%, 11/10/2025	EUR	100		103
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 0.55%), 0.95%, 07/19/2025 (aa)		400		374
(CMT Index 1 Year + 0.75%), 1.54%, 07/20/2027 (aa)		2,000		1,768
Reg. S, (ICE LIBOR EUR 3 Month + 0.94%), 2.26%, 06/14/2025 (aa)	EUR	1,175		1,226
(CMT Index 1 Year + 0.83%), 2.34%, 01/19/2028 (aa)		200		180
(CMT Index 1 Year + 0.97%), 2.49%, 10/13/2032 (aa)		220		182
Mizuho Financial Group, Inc., (Japan),
(ICE LIBOR USD 3 Month + 0.83%), 2.23%, 05/25/2026 (aa)		3,000		2,806
(United States SOFR + 1.24%), 2.84%, 07/16/2025 (aa)		200		194
Morgan Stanley,
(ICE LIBOR EUR 3 Month + 0.70%), 0.41%, 10/29/2027 (aa)	EUR	5,625		5,236
(ICE LIBOR EUR 3 Month + 0.75%), 0.64%, 07/26/2024 (aa)	EUR	1,675		1,729
(United States SOFR + 0.62%), 0.73%, 04/05/2024 (aa)		100		97
(United States SOFR + 0.86%), 1.51%, 07/20/2027 (aa)		225		198
(United States SOFR + 0.88%), 1.59%, 05/04/2027 (aa)		1,235		1,098
1.88%, 04/27/2027	EUR	1,300		1,279
(United States SOFR + 1.02%), 1.93%, 04/28/2032 (aa)		1,350		1,073
(ICE LIBOR EUR 3 Month + 0.90%), 2.10%, 05/08/2026 (aa)	EUR	1,700		1,746
2.63%, 03/09/2027	GBP	725		835
(United States SOFR + 1.14%), 2.70%, 01/22/2031 (aa)		3,900		3,386
(United States SOFR + 1.43%), 2.80%, 01/25/2052 (aa)		45		31
(ICE LIBOR EUR 3 Month + 1.25%), 2.95%, 05/07/2032 (aa)	EUR	2,200		2,183
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		185		183
4.10%, 05/22/2023		2,700		2,711
4.30%, 01/27/2045		170		152
4.38%, 01/22/2047		23		21
(ICE LIBOR USD 3 Month + 1.43%), 4.46%, 04/22/2039 (aa)		10		9
4.88%, 11/01/2022		90		91


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
5.00%, 11/24/2025		140		142
(United States SOFR + 4.84%), 5.60%, 03/24/2051 (aa)		40		43
Muenchener Hypothekenbank eG, (Germany),
Reg. S, 0.01%, 11/02/2040	EUR	50		33
Reg. S, 0.13%, 02/01/2029	EUR	50		46
Reg. S, 1.00%, 04/18/2039	EUR	50		42
Reg. S, 1.50%, 06/25/2024	EUR	100		105
Reg. S, 2.50%, 07/04/2028	EUR	100		108
National Australia Bank Ltd., (Australia),
Reg. S, 0.75%, 01/30/2026	EUR	100		101
Reg. S, (UK Gilts 5 Year + 1.40%), 1.70%, 09/15/2031 (aa)	GBP	725		759
National Bank of Canada, (Canada), Reg. S, 0.75%, 03/13/2025	EUR	100		103
Nationale-Nederlanden Bank NV (/The), (Netherlands), Reg. S, 0.01%, 07/08/2030	EUR	100		88
NatWest Group plc, (United Kingdom),
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 0.67%, 09/14/2029 (aa)	EUR	200		171
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.04%, 09/14/2032 (aa)	EUR	875		746
Reg. S, (ICE LIBOR EUR 3 Month + 1.08%), 1.75%, 03/02/2026 (aa)	EUR	1,200		1,206
Reg. S, (ICE LIBOR EUR 3 Month + 1.74%), 2.00%, 03/04/2025 (aa)	EUR	100		104
Reg. S, (UK Gilts 5 Year + 1.75%), 2.11%, 11/28/2031 (aa)	GBP	600		625
(CMT Index 1 Year + 2.15%), 2.36%, 05/22/2024 (aa)		2,000		1,965
(ICE LIBOR USD 3 Month + 1.75%), 4.89%, 05/18/2029 (aa)		1,670		1,621
NatWest Markets plc, (United Kingdom), Reg. S, 2.00%, 08/27/2025	EUR	1,000		1,021
NIBC Bank NV, (Netherlands),
Reg. S, 0.13%, 04/21/2031	EUR	100		87
Reg. S, 0.63%, 06/01/2026	EUR	100		100
NORD/LB Luxembourg SA Covered Bond Bank, (Luxembourg), Reg. S, 0.01%, 06/10/2027	EUR	100		95
Norddeutsche Landesbank-Girozentrale, (Germany),
Reg. S, 0.01%, 09/23/2026	EUR	100		98
Reg. S, 0.13%, 11/23/2023	EUR	100		103
Reg. S, 0.25%, 10/28/2026	EUR	20		20
Reg. S, 0.50%, 06/29/2026	EUR	50		50
Nordea Bank Abp, (Finland),
Reg. S, 0.88%, 06/26/2023	EUR	425		443
3.75%, 08/30/2023 (e)		1,900		1,903
Nordea Hypotek AB, (Sweden),
Series 5533, Reg. S, 1.25%, 09/20/2023	SEK	1,700		164
Series 5534, Reg. S, 1.00%, 09/18/2024	SEK	2,500		236


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)			VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Series 5535, Reg. S, 1.00%, 09/17/2025	SEK	2,200			202
Series 5536, Reg. S, 0.50%, 09/16/2026	SEK	1,200			105
Nordea Kiinnitysluottopankki OYJ, (Finland),
Reg. S, 0.13%, 06/18/2027	EUR	100			97
Reg. S, 1.00%, 03/30/2029	EUR	100			98
NRW Bank, (Germany),
Reg. S, 0.00%, 07/28/2031	EUR	138			120
Reg. S, 0.10%, 07/09/2035	EUR	100			78
Reg. S, 0.25%, 03/10/2025	EUR	120			122
Reg. S, 0.50%, 05/26/2025	EUR	320			326
Reg. S, 0.75%, 06/30/2028	EUR	260			256
1.20%, 03/28/2039	EUR	100			87
1.25%, 05/13/2049	EUR	87			73
Nykredit Realkredit A/S, (Denmark),
Reg. S, 1.00%, 10/01/2050	DKK	—	(h)		—	(h)
Series 01E, Reg. S, 1.00%, 10/01/2053	DKK	—	(h)		—	(h)
Series 01eE, Reg. S, 1.50%, 10/01/2053	DKK	22,922			2,644
Series 01E, Reg. S, 2.00%, 10/01/2053	DKK	—	(h)		—	(h)
Series 13HH, Reg. S, 1.00%, 07/01/2024	DKK	700			98
Series 13H, Reg. S, 1.00%, 07/01/2026	DKK	800			108
Series 13H, Reg. S, 1.00%, 01/01/2027	DKK	1,000			133
Series 13H, Reg. S, 1.00%, 01/01/2028	DKK	200			26
Series 13H, Reg. S, 2.00%, 01/01/2025	DKK	300			42
Series 13H, Reg. S, 2.00%, 01/01/2026	DKK	1,000			141
Oesterreichische Kontrollbank AG, (Austria),
Reg. S, 0.00%, 10/08/2026	EUR	150			146
Reg. S, 0.25%, 09/26/2024	EUR	300			307
OP Mortgage Bank, (Finland),
Reg. S, 0.25%, 03/13/2024	EUR	100			103
Reg. S, 0.63%, 02/15/2029	EUR	100			96
Reg. S, 1.00%, 11/28/2024	EUR	150			156
Reg. S, 1.00%, 10/05/2027	EUR	100			100
Pfandbriefbank schweizerischer Hypothekarinstitute AG, (Switzerland),
Reg. S, 0.00%, 02/26/2030	CHF	800			743
Series 670, Reg. S, 0.00%, 07/29/2024	CHF	300			309
Series 678, Reg. S, 0.00%, 08/26/2049	CHF	75			47
Series 680, Reg. S, 0.00%, 03/30/2026	CHF	150			151
Series 682, Reg. S, 0.00%, 04/06/2027	CHF	100			99
Series 683, Reg. S, 0.00%, 02/25/2028	CHF	200			194
Series 684, Reg. S, 0.00%, 05/10/2045	CHF	150			101
Series 695, Reg. S, 0.00%, 10/26/2029	CHF	200			187
Series 696, Reg. S, 0.13%, 11/19/2032	CHF	100			88
Series 697, Reg. S, 0.00%, 05/20/2041	CHF	150			109
Series 701, Reg. S, 0.13%, 06/20/2031	CHF	50			46
Series 703, Reg. S, 0.38%, 01/24/2042	CHF	50			39
Pfandbriefzentrale der schweizerischen Kantonalbanken AG, (Switzerland),
Series 472, Reg. S, 0.00%, 07/25/2023	CHF	150			156
Series 483, Reg. S, 0.00%, 01/27/2027	CHF	900			893
Series 485, Reg. S, 0.00%, 10/02/2026	CHF	400			399
Series 524, Reg. S, 0.00%, 06/21/2028	CHF	50			48
Series 526, Reg. S, 0.00%, 07/19/2030	CHF	75			69


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Series 528, Reg. S, 0.00%, 03/15/2030	CHF	50		47
Series 531, Reg. S, 0.00%, 02/15/2036	CHF	255		205
Series 536, Reg. S, 0.20%, 06/12/2035	CHF	50		42
Series 538, Reg. S, 0.00%, 07/25/2031	CHF	200		179
Prima Banka Slovensko A/S, (Slovakia), Reg. S, 0.01%, 09/14/2027	EUR	100		94
Raiffeisenlandesbank Niederoesterreich-Wien AG, (Austria), Reg. S, 0.63%, 08/28/2026	EUR	100		100
Raiffeisenlandesbank Oberoesterreich AG, (Austria),
Reg. S, 0.88%, 07/12/2028	EUR	100		98
Reg. S, 1.25%, 04/26/2027	EUR	100		102
Rheinland-Pfalz Bank, (Germany), SUB, 6.88%, 02/23/2028 (e)		200		230
Royal Bank of Canada, (Canada),
Reg. S, 0.01%, 10/05/2028	EUR	100		92
Reg. S, 0.13%, 04/26/2027	EUR	100		96
Reg. S, 0.25%, 01/29/2024	EUR	100		103
Reg. S, 0.25%, 05/02/2024	EUR	700		711
Reg. S, 0.63%, 09/10/2025	EUR	100		102
1.15%, 06/10/2025		100		93
3.63%, 05/04/2027		90		87
Santander Consumer Bank A/S, (Norway),
Reg. S, 0.13%, 02/25/2025	EUR	2,700		2,657
Reg. S, 0.75%, 03/01/2023	EUR	2,000		2,093
Santander Holdings USA, Inc., 3.45%, 06/02/2025		100		96
Santander UK Group Holdings plc, (United Kingdom),
Reg. S, (EUR Swap Rate 1 Year + 0.80%), 0.60%, 09/13/2029 (aa)	EUR	1,050		899
(United States SOFR + 0.79%), 1.09%, 03/15/2025 (aa)		200		187
Santander UK plc, (United Kingdom),
Reg. S, 1.25%, 09/18/2024	EUR	100		104
Reg. S, 5.75%, 03/02/2026	GBP	100		135
Skandinaviska Enskilda Banken AB, (Sweden),
Reg. S, 0.05%, 07/01/2024	EUR	775		784
Reg. S, 0.25%, 05/19/2023	EUR	325		338
Reg. S, 0.75%, 06/28/2027	EUR	100		99
Reg. S, (EUR Swap Rate 5 Year + 1.35%), 1.38%, 10/31/2028 (aa)	EUR	425		436
Series 576, Reg. S, 1.00%, 12/20/2023	SEK	2,000		192
Series 578, Reg. S, 4.25%, 12/01/2023	SEK	500		50
Series 579, Reg. S, 1.00%, 12/18/2024	SEK	2,000		187
Series 581, Reg. S, 0.50%, 12/16/2026	SEK	2,000		174
Societe Generale SA, (France),
Reg. S, 0.25%, 07/08/2027	EUR	1,500		1,377
Reg. S, 0.75%, 01/25/2027	EUR	3,700		3,425
Reg. S, 1.13%, 01/23/2025	EUR	100		101
Reg. S, 1.25%, 12/07/2027	GBP	500		513
(CMT Index 1 Year + 1.05%), 2.23%, 01/21/2026 (e) (aa)		2,850		2,658


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
2.63%, 01/22/2025 (e)		750		713
(CMT Index 1 Year + 1.30%), 2.80%, 01/19/2028 (e) (aa)		2,595		2,320
SpareBank 1 Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 09/22/2027	EUR	100		95
Reg. S, 0.38%, 06/26/2024	EUR	100		103
Reg. S, 1.00%, 01/30/2029	EUR	100		98
Reg. S, 1.75%, 05/11/2032	EUR	100		99
Sparebank 1 Oestlandet, (Norway), Reg. S, 0.25%, 09/30/2024	EUR	600		603
SpareBank 1 SR-Bank ASA, (Norway), Reg. S, 0.63%, 03/25/2024	EUR	700		718
SR-Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 03/10/2031	EUR	100		86
Reg. S, 0.75%, 10/17/2025	EUR	100		102
Stadshypotek AB, (Sweden),
Series 1588, Reg. S, 1.50%, 03/01/2024	SEK	2,000		193
Series 1589, Reg. S, 1.50%, 12/03/2024	SEK	2,000		190
Series 1590, Reg. S, 1.00%, 09/03/2025	SEK	2,000		184
Series 1591, Reg. S, 0.50%, 06/01/2026	SEK	2,000		177
Series 1592, Reg. S, 1.00%, 03/01/2027	SEK	2,000		177
Series 1594, Reg. S, 2.00%, 09/01/2028	SEK	2,000		181
Standard Chartered plc, (United Kingdom),
(CMT Index 1 Year + 1.00%), 1.46%, 01/14/2027 (e) (aa)		1,200		1,058
(CMT Index 1 Year + 1.18%), 2.61%, 01/12/2028 (e) (aa)		2,600		2,325
State Street Corp., (United States SOFR + 1.61%), 4.42%, 05/13/2033 (aa)		275		272
Sumitomo Mitsui Banking Corp., (Japan), Reg. S, 0.55%, 11/06/2023	EUR	100		104
Sumitomo Mitsui Financial Group, Inc., (Japan),
1.90%, 09/17/2028		200		170
2.70%, 07/16/2024		3,700		3,601
SVB Financial Group,
1.80%, 02/02/2031		523		404
2.10%, 05/15/2028		120		103
Svenska Handelsbanken AB, (Sweden), Reg. S, 0.50%, 02/18/2030	EUR	975		822
Sveriges Sakerstallda Obligationer AB, (Sweden),
Reg. S, 0.01%, 03/14/2030	EUR	100		89
Reg. S, 0.63%, 10/30/2025	EUR	100		102
Series 144, Reg. S, 1.00%, 06/21/2023	SEK	2,000		194
Series 146, Reg. S, 0.50%, 06/11/2025	SEK	2,000		182
Series 147, Reg. S, 2.00%, 06/17/2026	SEK	2,000		188
Series 148, Reg. S, 0.25%, 06/09/2027	SEK	2,000		169
Swedbank AB, (Sweden),
Reg. S, 0.75%, 05/05/2025	EUR	700		704
Reg. S, (EUR Swap Rate 5 Year + 1.28%), 1.50%, 09/18/2028 (aa)	EUR	1,900		1,953


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Banks — continued
Tesco Personal Finance Group plc, (United Kingdom), Reg. S, 3.50%, 07/25/2025	GBP	100		118
Toronto-Dominion Bank (The), (Canada),
Reg. S, 0.25%, 03/26/2024	EUR	100		103
Reg. S, 0.38%, 04/27/2023	EUR	100		104
Reg. S, 0.86%, 03/24/2027	EUR	100		100
1.25%, 09/10/2026		20		18
Reg. S, 1.95%, 04/08/2030	EUR	1,800		1,709
2.35%, 03/08/2024		180		176
Truist Financial Corp.,
1.20%, 08/05/2025		160		147
3.88%, 03/19/2029		1,400		1,332
UBS Group AG, (Switzerland),
Reg. S, (EUR Swap Rate 1 Year + 0.77%), 0.25%, 11/05/2028 (aa)	EUR	1,200		1,060
Reg. S, (EUR Swap Rate 1 Year + 0.75%), 1.25%, 04/17/2025 (aa)	EUR	200		205
Reg. S, 1.75%, 11/16/2022	EUR	1,450		1,527
(CMT Index 1 Year + 1.10%), 2.75%, 02/11/2033 (e) (aa)		2,000		1,632
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 2.75%, 06/15/2027 (aa)	EUR	2,000		2,054
UniCredit Bank AG, (Germany),
Reg. S, 0.01%, 09/15/2028	EUR	50		46
Reg. S, 0.01%, 03/10/2031	EUR	125		109
Reg. S, 0.25%, 01/15/2032	EUR	50		43
Reg. S, 0.85%, 05/22/2034	EUR	50		44
Reg. S, 0.88%, 01/11/2029	EUR	100		98
UniCredit Bank Austria AG, (Austria), Reg. S, 0.05%, 09/21/2035	EUR	100		76
UniCredit SpA, (Italy),
Reg. S, 0.38%, 10/31/2026	EUR	100		98
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 1.20%, 01/20/2026 (aa)	EUR	1,175		1,145
(CMT Index 1 Year + 2.30%), 2.57%, 09/22/2026 (e) (aa)		3,000		2,686
United Overseas Bank Ltd., (Singapore), Reg. S, 0.01%, 12/01/2027	EUR	100		94
US Bancorp,
0.85%, 06/07/2024	EUR	700		712
(CMT Index 5 Year + 2.54%), 3.70%, 01/15/2027 (x) (aa)		2,300		1,765
Valiant Bank AG, (Switzerland), Reg. S, 0.00%, 07/31/2029	CHF	50		46
Virgin Money UK plc, (United Kingdom),
Reg. S, (EUR Swap Rate 1 Year + 0.85%), 0.38%, 05/27/2024 (aa)	EUR	225		231
Reg. S, (UK Gilts 1 Year + 2.80%), 4.00%, 09/25/2026 (aa)	GBP	100		118
Reg. S, (UK Gilts 5 Year + 5.25%), 5.13%, 12/11/2030 (aa)	GBP	500		588


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Banks — continued
Vseobecna Uverova Banka A/S, (Slovakia), Reg. S, 0.25%, 03/26/2024	EUR	100		103
Wells Fargo & Co.,
Reg. S, (ICE LIBOR EUR 3 Month + 1.85%), 1.74%, 05/04/2030 (aa)	EUR	1,200		1,117
Reg. S, 2.13%, 09/24/2031	GBP	500		504
(United States SOFR + 1.09%), 2.41%, 10/30/2025 (aa)		92		88
(United States SOFR + 2.53%), 3.07%, 04/30/2041 (aa)		1,975		1,542
(ICE LIBOR USD 3 Month + 1.17%), 3.20%, 06/17/2027 (aa)		1,590		1,507
3.75%, 01/24/2024		265		266
3.90%, 05/01/2045		20		17
(United States SOFR + 1.32%), 3.91%, 04/25/2026 (aa)		265		260
(United States SOFR + 2.13%), 4.61%, 04/25/2053 (aa)		745		694
4.75%, 12/07/2046		95		87
Reg. S, 4.88%, 11/29/2035	GBP	500		576
(United States SOFR + 4.50%), 5.01%, 04/04/2051 (aa)		70		69
5.61%, 01/15/2044		24		24
Westpac Banking Corp., (Australia),
Reg. S, 0.01%, 09/22/2028	EUR	100		92
Reg. S, 0.38%, 04/02/2026	EUR	100		99
Wirtschafts- und Infrastrukturbank Hessen, (Germany), 0.88%, 06/14/2028	EUR	100		99
Zuercher Kantonalbank, (Switzerland), Series 150, Reg. S, 0.10%, 03/31/2031	CHF	240		218

				333,618

Diversified Financial Services — 0.6%
Aareal Bank AG, (Germany),
Reg. S, 1.38%, 02/01/2029	EUR	100		100
Series 225, Reg. S, 0.13%, 02/01/2023	EUR	100		105
Series 236, Reg. S, 0.01%, 02/01/2028	EUR	100		94
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 4.50%, 09/15/2023		150		149
Affordable Housing Finance plc, (United Kingdom), Reg. S, 2.89%, 08/11/2043	GBP	100		115
Air Lease Corp., 2.63%, 07/01/2022		95		95
Ally Financial, Inc.,
1.45%, 10/02/2023		40		39
3.05%, 06/05/2023		35		34
American Express Co.,
2.25%, 03/04/2025		125		120
3.38%, 05/03/2024		5,040		5,008
Arkea Home Loans SFH SA, (France), Reg. S, 0.38%, 03/04/2024	EUR	100		103
Artesian Finance II plc, (United Kingdom), 6.00%, 09/30/2033	GBP	50		75


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Diversified Financial Services — continued
Aspire Defence Finance plc, (United Kingdom), Series B, 4.67%, 03/31/2040	GBP	42		56
AXA Bank Europe SCF, (France),
Reg. S, 0.01%, 01/22/2027	EUR	100		96
Reg. S, 0.50%, 04/18/2025	EUR	100		102
AXA Home Loan SFH SA, (France), Reg. S, 0.13%, 06/25/2035	EUR	100		77
AyT Cedulas Cajas Global FTA, (Spain), Series 3, 3.75%, 12/14/2022	EUR	100		106
AyT Cedulas Cajas X Fondo de Titulizacion de Activos, (Spain), Series X, 3.75%, 06/30/2025	EUR	100		111
BPCE SFH SA, (France),
Reg. S, 0.01%, 10/16/2028	EUR	100		93
Reg. S, 0.01%, 05/27/2030	EUR	100		89
Reg. S, 0.01%, 01/29/2036	EUR	100		74
Reg. S, 0.13%, 12/03/2030	EUR	100		88
Reg. S, 0.63%, 09/22/2027	EUR	100		98
Reg. S, 0.75%, 09/02/2025	EUR	100		102
Reg. S, 1.13%, 04/12/2030	EUR	100		97
Reg. S, 1.75%, 05/27/2032	EUR	100		100
Reg. S, 2.38%, 11/29/2023	EUR	200		213
Brookfield Finance, Inc., (Canada),
3.50%, 03/30/2051		40		29
4.00%, 04/01/2024		40		40
Caisse de Refinancement de l’Habitat SA, (France),
Reg. S, 0.01%, 10/08/2029	EUR	100		90
Reg. S, 0.13%, 04/30/2027	EUR	100		96
Reg. S, 2.38%, 03/05/2024	CHF	50		54
3.90%, 10/20/2023	EUR	100		109
Cantor Fitzgerald LP, 4.50%, 04/14/2027 (e)		2,055		1,978
Capital One Financial Corp.,
0.80%, 06/12/2024	EUR	425		429
1.65%, 06/12/2029	EUR	578		509
Cedulas TDA 6 Fondo de Titulizacion de Activos, (Spain), Series A6, 3.88%, 05/23/2025	EUR	100		111
Charles Schwab Corp. (The),
1.15%, 05/13/2026		105		95
1.65%, 03/11/2031		50		40
Clifford Capital Pte Ltd., (Singapore), Reg. S, 3.11%, 08/18/2032		200		179
CME Group, Inc., 2.65%, 03/15/2032		63		56
Credit Agricole Home Loan SFH SA, (France),
Reg. S, 0.01%, 04/12/2028	EUR	200		188
Reg. S, 0.01%, 11/03/2031	EUR	100		85
Reg. S, 0.13%, 12/16/2024	EUR	100		102
Reg. S, 0.38%, 09/30/2024	EUR	100		102
Reg. S, 0.50%, 02/19/2026	EUR	100		100
Reg. S, 0.88%, 08/11/2028	EUR	200		196
Reg. S, 0.88%, 05/06/2034	EUR	100		88


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)			VALUE($)
Long Positions — continued
Corporate Bonds — continued
Diversified Financial Services — continued
Credit Agricole Public Sector SCF SA, (France), Reg. S, 0.88%, 08/02/2027	EUR	100			100
Credit Mutuel Home Loan SFH SA, (France),
Reg. S, 0.01%, 07/20/2028	EUR	100			93
Reg. S, 0.75%, 09/15/2027	EUR	100			99
Reg. S, 0.88%, 03/04/2032	EUR	100			92
Reg. S, 1.00%, 01/30/2029	EUR	100			98
Reg. S, 2.38%, 02/08/2028	EUR	100			107
Reg. S, 4.13%, 01/19/2024	EUR	100			109
Danmarks Skibskredit A/S, (Denmark), Reg. S, 0.13%, 03/20/2025	EUR	100			100
DLR Kredit A/S, (Denmark), Series B, Reg. S, 1.00%, 10/01/2022	DKK	300			42
Harbour Funding plc, (United Kingdom), Reg. S, 5.28%, 03/31/2034	GBP	25			34
HSBC SFH France SA, (France), Reg. S, 0.75%, 03/22/2027	EUR	100			99
Hypo Tirol Bank AG, (Austria), Reg. S, 0.01%, 03/11/2031	EUR	100			86
Intercontinental Exchange, Inc.,
3.65%, 05/23/2025		40			40
3.75%, 12/01/2025		25			25
4.00%, 09/15/2027		2,100			2,069
4.25%, 09/21/2048		21			19
5.20%, 06/15/2062		5			5
Jefferies Group LLC, 2.75%, 10/15/2032		1,420			1,081
Jefferies Group LLC / Jefferies Group Capital Finance, Inc., 2.63%, 10/15/2031		1,250			967
Jyske Realkredit A/S, (Denmark),
Series CCE, Reg. S, 0.01%, 10/01/2027	EUR	100			95
Series CCE, Reg. S, 1.00%, 10/01/2024	DKK	100			14
Reg. S, 1.50%, 10/01/2053	DKK	1,188			138
Reg. S, 2.00%, 10/01/2053	DKK	—	(h)		—	(h)
Series 32lE, Reg. S, 1.00%, 04/01/2023	DKK	200			28
Series 32IE, Reg. S, 1.00%, 04/01/2025	DKK	400			55
La Banque Postale Home Loan SFH SA, (France),
Reg. S, 0.50%, 01/30/2026	EUR	100			100
Reg. S, 1.00%, 10/04/2028	EUR	100			99
Reg. S, 2.38%, 01/15/2024	EUR	100			107
Lansforsakringar Hypotek AB, (Sweden),
Reg. S, 1.38%, 05/31/2027	EUR	100			102
Series 516, Reg. S, 1.25%, 09/20/2023	SEK	1,000			97
Series 517, Reg. S, 1.50%, 09/18/2024	SEK	600			57
Series 518, Reg. S, 1.25%, 09/17/2025	SEK	500			46
Series 519, Reg. S, 1.50%, 09/16/2026	SEK	400			37
Series 520, Reg. S, 1.00%, 09/15/2027	SEK	1,000			87
Series 521, Reg. S, 0.50%, 09/20/2028	SEK	700			58
London Stock Exchange Group plc, (United Kingdom), Reg. S, 1.75%, 12/06/2027	EUR	800			797


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)			VALUE($)


Diversified Financial Services — continued
Mastercard, Inc.,
2.10%, 12/01/2027	EUR	1,025			1,066
3.30%, 03/26/2027		80			79
3.85%, 03/26/2050		40			37
Nasdaq, Inc.,
0.88%, 02/13/2030	EUR	1,150			975
0.90%, 07/30/2033	EUR	500			383
1.75%, 03/28/2029	EUR	700			650
Navient Solutions LLC, Zero Coupon, 10/03/2022		1,711			1,682
Nomura Holdings, Inc., (Japan),
1.85%, 07/16/2025		1,955			1,792
2.61%, 07/14/2031		1,255			1,004
3.00%, 01/22/2032		1,320			1,075
5.10%, 07/03/2025 (w)		2,300			2,312
Nordea Kredit Realkreditaktieselskab, (Denmark),
Reg. S, 1.00%, 10/01/2024 (e)	DKK	500			70
Reg. S, 1.00%, 04/01/2026 (e)	DKK	500			68
1.00%, 10/01/2026	DKK	500			67
Reg. S, 2.00%, 10/01/2053	DKK	—	(h)		—	(h)
Series CC2, Reg. S, 1.00%, 04/01/2025 (e)	DKK	200			28
Series CC2, Reg. S, 1.00%, 04/01/2027 (e)	DKK	500			66
Series CC2, 1.50%, 10/01/2053	DKK	594			68
Series CT2, Reg. S, 1.00%, 10/01/2022 (e)	DKK	400			56
Private Export Funding Corp.,
0.55%, 07/30/2024 (e)		300			285
Series PP, 1.40%, 07/15/2028		775			692
Programa Cedulas TDA Fondo de Titulizacion de Activos, (Spain), Series A6, 4.25%, 04/10/2031	EUR	100			120
Prs Finance plc, (United Kingdom),
Reg. S, 1.75%, 11/24/2026	GBP	189			222
Reg. S, 2.00%, 01/23/2029	GBP	700			819
Realkredit Danmark A/S, (Denmark),
Series 10f, Reg. S, 1.00%, 01/01/2025 (e)	DKK	700			97
Series 10F, Reg. S, 1.00%, 01/01/2026 (e)	DKK	1,000			136
Series 22S, Reg. S, 0.00%, 10/01/2040 (e)	DKK	45			5
Series 23S, Reg. S, 1.50%, 10/01/2053	DKK	2,572			297
Series 28S, Reg. S, 2.00%, 10/01/2053	DKK	—	(h)		—	(h)
Societe Generale SFH SA, (France),
Reg. S, 0.01%, 10/29/2029	EUR	100			90
Reg. S, 0.50%, 06/02/2025	EUR	100			102
Reg. S, 0.50%, 01/28/2026	EUR	100			101
Reg. S, 1.38%, 05/05/2028	EUR	100			101
Reg. S, 1.75%, 05/05/2034	EUR	100			97


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Diversified Financial Services — continued
Sparebanken Vest Boligkreditt A/S, (Norway), Reg. S, 0.38%, 01/20/2032	EUR	100		88
Swedbank Hypotek AB, (Sweden),
Reg. S, 0.05%, 05/28/2025	EUR	100		100
Series 193, Reg. S, 1.00%, 12/20/2023	SEK	500		48
Series 194, Reg. S, 1.00%, 09/18/2024	SEK	1,100		103
Series 195, Reg. S, 1.00%, 06/18/2025	SEK	1,500		139
Series 196, Reg. S, 1.00%, 03/18/2026	SEK	1,000		91
Series 197, Reg. S, 1.00%, 03/17/2027	SEK	700		62
THFC Funding No. 1 plc, (United Kingdom), Reg. S, 5.13%, 12/21/2035	GBP	50		68
Visa, Inc.,
1.50%, 06/15/2026	EUR	4,800		4,919
2.00%, 06/15/2029	EUR	4,100		4,143
2.70%, 04/15/2040		130		105
Wellcome Trust Finance plc, (United Kingdom), Reg. S, 4.63%, 07/25/2036	GBP	225		311
Western Union Co. (The), 1.35%, 03/15/2026		1,900		1,698


				45,914

Insurance — 0.6%
Aflac, Inc., 4.75%, 01/15/2049		100		97
Alleghany Corp., 3.25%, 08/15/2051		15		11
Allianz SE, (Germany), Reg. S, (ICE EURIBOR Swap Rate 10 Year + 3.20%), 3.38%, 09/18/2024 (x) (aa)	EUR	2,400		2,452
Aon Corp., 2.80%, 05/15/2030		50		44
Aon Corp. / Aon Global Holdings PLC, 2.90%, 08/23/2051		20		14
Aon Global Ltd., (United Kingdom), 4.60%, 06/14/2044		10		9
Aquarius & Investments plc for Zurich Insurance Co. Ltd., (Ireland), Reg. S, (ICE LIBOR EUR 3 Month + 3.45%), 4.25%, 10/02/2043 (aa)	EUR	100		107
Arthur J Gallagher & Co., 3.05%, 03/09/2052		70		49
Assicurazioni Generali SpA, (Italy),
Reg. S, 3.88%, 01/29/2029	EUR	500		484
Reg. S, 4.13%, 05/04/2026	EUR	100		105
Assurant, Inc., 2.65%, 01/15/2032		245		192
Athene Global Funding,
Reg. S, 1.24%, 04/08/2024	EUR	1,300		1,338
2.50%, 01/14/2025 (e)		20		19
Athene Holding Ltd., (Bermuda), 3.95%, 05/25/2051		25		19
Aviva plc, (United Kingdom),
Reg. S, (UK Gilts 5 Year + 4.70%), 4.00%, 06/03/2055 (aa)	GBP	425		416
Reg. S, (UK Gilts 5 Year + 2.85%), 6.13%, 11/14/2036 (aa)	GBP	230		287


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Insurance — continued
AXA SA, (France),
Reg. S, (ICE LIBOR EUR 3 Month + 2.40%), 1.38%, 10/07/2041 (aa)	EUR	625		501
Reg. S, (SONIA Interest Rate Benchmark + 2.87%), 6.69%, 07/06/2026 (x) (aa)	GBP	375		473
8.60%, 12/15/2030		210		246
Berkshire Hathaway Finance Corp.,
1.50%, 03/18/2030	EUR	2,200		2,051
2.38%, 06/19/2039	GBP	425		419
2.85%, 10/15/2050		15		11
3.85%, 03/15/2052		25		21
4.20%, 08/15/2048		25		23
Berkshire Hathaway, Inc., 0.00%, 03/12/2025	EUR	1,000		993
BNP Paribas Cardif SA, (France), Reg. S, 1.00%, 11/29/2024	EUR	1,000		1,001
Brown & Brown, Inc.,
4.20%, 09/15/2024		10		10
4.95%, 03/17/2052		98		86
Chubb INA Holdings, Inc.,
1.55%, 03/15/2028	EUR	2,000		1,936
3.35%, 05/15/2024		95		95
CNA Financial Corp., 2.05%, 08/15/2030		2,500		2,016
Corebridge Financial, Inc.,
3.50%, 04/04/2025 (e)		100		97
4.35%, 04/05/2042 (e)		155		133
Credit Agricole Assurances SA, (France), Reg. S, (EUR Swap Rate 5 Year + 4.35%), 4.50%, 10/14/2025 (x) (aa)	EUR	100		102
Enstar Group Ltd., (Bermuda),
3.10%, 09/01/2031		60		48
4.95%, 06/01/2029		90		86
Everest Reinsurance Holdings, Inc., 3.50%, 10/15/2050		745		569
Fairfax Financial Holdings Ltd., (Canada), 3.38%, 03/03/2031		2,000		1,733
First American Financial Corp., 2.40%, 08/15/2031		220		170
Jackson Financial, Inc., 4.00%, 11/23/2051 (e)		5		4
Legal & General Finance plc, (United Kingdom), Reg. S, 5.88%, 04/05/2033	GBP	225		317
Legal & General Group plc, (United Kingdom),
Reg. S, (UK Gilts 5 Year + 5.25%), 4.50%, 11/01/2050 (aa)	GBP	425		465
Reg. S, (UK Gilts 5 Year + 4.65%), 5.13%, 11/14/2048 (aa)	GBP	300		352
Liberty Mutual Finance Europe DAC, (Ireland), Reg. S, 1.75%, 03/27/2024	EUR	2,000		2,078
Liberty Mutual Group, Inc.,
3.95%, 10/15/2050 (e)		830		632
5.50%, 06/15/2052 (e)		495		472
Loews Corp., 3.20%, 05/15/2030		10		9


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Insurance — continued
M&G plc, (United Kingdom), Reg. S, (UK Gilts 5 Year + 4.16%), 5.56%, 07/20/2055 (aa)	GBP	425		464
Markel Corp.,
3.45%, 05/07/2052		1,000		745
3.50%, 11/01/2027		5		5
Marsh & McLennan Cos., Inc.,
1.98%, 03/21/2030	EUR	3,150		2,988
2.90%, 12/15/2051		40		28
4.20%, 03/01/2048		190		169
4.75%, 03/15/2039		179		176
4.90%, 03/15/2049		105		104
Metropolitan Life Global Funding I,
Reg. S, 0.38%, 04/09/2024	EUR	1,125		1,150
Reg. S, 0.55%, 06/16/2027	EUR	775		731
Reg. S, 1.63%, 09/21/2029	GBP	1,125		1,198
Mutuelle Assurance Des Commercants et Industriels de France et Des Cadres et Sal, (France), Reg. S, 0.63%, 06/21/2027	EUR	1,000		896
NN Group NV, (Netherlands), Reg. S, (ICE LIBOR EUR 3 Month + 4.00%), 4.50%, 01/15/2026 (x) (aa)	EUR	1,350		1,363
Old Republic International Corp., 3.85%, 06/11/2051		10		8
Pension Insurance Corp. plc, (United Kingdom), Reg. S, 5.63%, 09/20/2030	GBP	1,121		1,306
Phoenix Group Holdings plc, (United Kingdom),
Reg. S, 5.63%, 04/28/2031	GBP	1,400		1,608
Reg. S, 6.63%, 12/18/2025	GBP	425		535
Principal Financial Group, Inc., 3.10%, 11/15/2026		1,400		1,331
Progressive Corp. (The),
3.70%, 03/15/2052		30		25
4.13%, 04/15/2047		50		46
Sampo OYJ, (Finland),
Reg. S, (ICE LIBOR EUR 3 Month + 3.60%), 2.50%, 09/03/2052 (aa)	EUR	525		429
Reg. S, (ICE LIBOR EUR 3 Month + 4.05%), 3.38%, 05/23/2049 (aa)	EUR	675		643
Stewart Information Services Corp., 3.60%, 11/15/2031		47		39
Unum Group,
4.00%, 06/15/2029		1,700		1,605
4.13%, 06/15/2051		900		668
W R Berkley Corp.,
3.55%, 03/30/2052		20		15
4.00%, 05/12/2050		700		588
Willis North America, Inc.,
2.95%, 09/15/2029		50		43
3.60%, 05/15/2024		100		98


				41,796


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Investment Companies — 0.1%
Ares Capital Corp.,
2.15%, 07/15/2026		330		278
3.25%, 07/15/2025		90		83
3.88%, 01/15/2026		37		34
4.25%, 03/01/2025		90		86
Bain Capital Specialty Finance, Inc., 2.95%, 03/10/2026		140		125
Barings BDC, Inc., 3.30%, 11/23/2026 (e)		35		30
Blackstone Private Credit Fund,
2.70%, 01/15/2025 (e)		120		110
3.25%, 03/15/2027 (e)		80		68
Blackstone Secured Lending Fund, 2.85%, 09/30/2028		138		111
FS KKR Capital Corp.,
1.65%, 10/12/2024		120		107
2.63%, 01/15/2027		245		207
3.25%, 07/15/2027		80		68
3.40%, 01/15/2026		240		213
Goldman Sachs BDC, Inc., 2.88%, 01/15/2026		10		9
Golub Capital BDC, Inc., 2.50%, 08/24/2026		100		84
Investor AB, (Sweden),
Reg. S, 0.38%, 10/29/2035	EUR	425		303
Reg. S, 1.50%, 09/12/2030	EUR	700		661
Main Street Capital Corp., 3.00%, 07/14/2026		155		135
MDGH GMTN RSC Ltd., (United Arab Emirates), Reg. S, 1.00%, 03/10/2034	EUR	300		255
Morgan Stanley Direct Lending Fund, 4.50%, 02/11/2027 (e)		130		118
Prospect Capital Corp.,
3.36%, 11/15/2026		75		64
3.44%, 10/15/2028		80		62
Wendel SE, (France), Reg. S, 1.00%, 06/01/2031	EUR	2,300		1,720


				4,931

Private Equity — 0.0% (g)
3i Group plc, (United Kingdom), Reg. S, 5.75%, 12/03/2032	GBP	350		466
Hercules Capital, Inc., 2.63%, 09/16/2026		120		104


				570

Real Estate — 0.4%
Annington Funding plc, (United Kingdom), Reg. S, 1.65%, 07/12/2024	EUR	2,000		2,041
Blackstone Property Partners Europe Holdings Sarl, (Luxembourg),
Reg. S, 0.50%, 09/12/2023	EUR	2,200		2,240
Reg. S, 1.75%, 03/12/2029	EUR	2,500		2,107
Reg. S, 2.00%, 02/15/2024	EUR	500		509
Reg. S, 2.63%, 10/20/2028	GBP	575		594
Broadgate Financing plc, (United Kingdom), Series A4, Reg. S, 4.82%, 07/05/2033	GBP	50		68


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Real Estate — continued
CBRE Services, Inc.,
2.50%, 04/01/2031		475		388
4.88%, 03/01/2026		20		20
Citycon Treasury BV, (Netherlands), Reg. S, 2.50%, 10/01/2024	EUR	1,575		1,568
Clarion Funding plc, (United Kingdom), Reg. S, 2.63%, 01/18/2029	GBP	100		116
CTP NV, (Netherlands),
Reg. S, 0.63%, 11/27/2023	EUR	750		734
Reg. S, 0.63%, 09/27/2026	EUR	1,800		1,503
Reg. S, 1.25%, 06/21/2029	EUR	300		219
Fastighets AB Balder, (Sweden), Reg. S, 1.88%, 01/23/2026	EUR	1,000		835
Heimstaden Bostad AB, (Sweden), Reg. S, 1.13%, 01/21/2026	EUR	1,200		1,093
HOWOGE Wohnungs-baugesellschaft mbH, (Germany), Reg. S, 1.13%, 11/01/2033	EUR	100		79
Logicor 2019-1 UK plc, (United Kingdom), Reg. S, 1.88%, 11/17/2026	GBP	425		484
Logicor Financing Sarl, (Luxembourg),
Reg. S, 0.75%, 07/15/2024	EUR	1,500		1,489
Reg. S, 1.50%, 07/13/2026	EUR	1,200		1,127
London & Quadrant Housing Trust, (United Kingdom),
Reg. S, 2.00%, 10/20/2038	GBP	425		391
Reg. S, 2.63%, 02/28/2028	GBP	625		736
Reg. S, 2.75%, 07/20/2057	GBP	225		207
Meadowhall Finance plc, (United Kingdom), Series A1, Reg. S, 4.99%, 01/12/2032	GBP	30		38
Notting Hill Genesis, (United Kingdom), Reg. S, 2.00%, 06/03/2036	GBP	300		287
Ontario Teachers’ Cadillac Fairview Properties Trust, (Canada),
2.50%, 10/15/2031 (e)		580		495
4.13%, 02/01/2029 (e)		2,100		2,067
Orbit Capital plc, (United Kingdom), Reg. S, 3.38%, 06/14/2048	GBP	425		453
Sagax Euro Mtn NL BV, (Netherlands), Reg. S, 1.00%, 05/17/2029	EUR	1,300		1,000
Samhallsbyggnadsbolaget i Norden AB, (Sweden),
Reg. S, 1.00%, 08/12/2027	EUR	1,575		1,048
Reg. S, 1.75%, 01/14/2025	EUR	850		648
Sinochem Offshore Capital Co. Ltd., (British Virgin Islands), Reg. S, 0.75%, 11/25/2025	EUR	500		484
Telereal Securitisation plc, (United Kingdom), Series B4, 6.16%, 12/10/2031	GBP	44		58
Tesco Property Finance 1 plc, (United Kingdom), Reg. S, 7.62%, 07/13/2039	GBP	81		119
Tesco Property Finance 3 plc, (United Kingdom), Reg. S, 5.74%, 04/13/2040	GBP	47		60


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Real Estate — continued
Trafford Centre Finance Ltd. (The), (Cayman Islands), Series A2, Reg. S, 6.50%, 07/28/2033	GBP	35		47
VGP NV, (Belgium),
Reg. S, 1.63%, 01/17/2027	EUR	1,200		986
Reg. S, 2.25%, 01/17/2030	EUR	500		359
Vonovia Finance BV, (Netherlands),
Reg. S, 0.63%, 07/09/2026	EUR	300		277
Reg. S, 0.88%, 07/03/2023	EUR	100		104
Reg. S, 1.00%, 01/28/2041	EUR	1,100		593
Reg. S, 1.63%, 04/07/2024	EUR	500		515
Vonovia SE, (Germany), Reg. S, 0.75%, 09/01/2032	EUR	1,700		1,211


				29,397

REITS — 0.7%
Aedifica SA, (Belgium), Reg. S, 0.75%, 09/09/2031	EUR	600		444
Altarea SCA, (France), Reg. S, 1.75%, 01/16/2030	EUR	200		148
American Campus Communities Operating Partnership LP, 3.30%, 07/15/2026		20		20
American Homes 4 Rent LP, 3.38%, 07/15/2051		15		10
American Tower Corp.,
0.40%, 02/15/2027	EUR	700		632
0.88%, 05/21/2029	EUR	1,500		1,277
1.38%, 04/04/2025	EUR	1,050		1,059
2.70%, 04/15/2031		50		41
2.95%, 01/15/2051		100		68
3.65%, 03/15/2027		270		257
Brixmor Operating Partnership LP,
4.05%, 07/01/2030		1,175		1,062
4.13%, 06/15/2026		2,300		2,249
4.13%, 05/15/2029		875		817
Camden Property Trust, 3.35%, 11/01/2049		10		8
Crown Castle International Corp.,
1.05%, 07/15/2026		40		35
1.35%, 07/15/2025		200		183
2.50%, 07/15/2031		30		25
2.90%, 04/01/2041		120		87
3.25%, 01/15/2051		305		220
5.20%, 02/15/2049		70		67
CubeSmart LP,
2.25%, 12/15/2028		65		56
2.50%, 02/15/2032		150		122
EPR Properties, 3.60%, 11/15/2031		55		44
Equinix, Inc.,
1.00%, 03/15/2033	EUR	1,000		771
2.63%, 11/18/2024		120		115
ERP Operating LP, 2.85%, 11/01/2026		50		47
Extra Space Storage LP, 2.35%, 03/15/2032		165		131


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
REITS — continued
GLP Capital LP / GLP Financing II, Inc.,
3.25%, 01/15/2032		780		626
3.35%, 09/01/2024		20		19
5.30%, 01/15/2029		135		129
5.38%, 11/01/2023		30		30
5.38%, 04/15/2026		1,500		1,468
5.75%, 06/01/2028		60		58
Hammerson plc, (United Kingdom), Reg. S, 7.25%, 04/21/2028	GBP	400		458
Healthpeak Properties, Inc., 3.00%, 01/15/2030		1,400		1,239
Host Hotels & Resorts LP,
Series I, 3.50%, 09/15/2030		80		69
Series J, 2.90%, 12/15/2031		415		330
Invitation Homes Operating Partnership LP, 2.00%, 08/15/2031		50		39
Kimco Realty Corp., 2.70%, 10/01/2030		1,900		1,639
Life Storage LP,
3.50%, 07/01/2026		255		244
3.88%, 12/15/2027		50		48
MPT Operating Partnership LP / MPT Finance Corp., 0.99%, 10/15/2026	EUR	1,650		1,421
National Health Investors, Inc., 3.00%, 02/01/2031		120		92
Office Properties Income Trust,
2.65%, 06/15/2026		15		13
3.45%, 10/15/2031		83		62
Omega Healthcare Investors, Inc., 4.50%, 04/01/2027		16		15
Prologis Euro Finance LLC, 0.25%, 09/10/2027	EUR	3,725		3,344
Prologis LP,
2.13%, 10/15/2050		20		13
2.25%, 06/30/2029	GBP	1,600		1,752
3.25%, 10/01/2026		50		49
Public Storage,
0.88%, 02/15/2026		50		45
2.25%, 11/09/2031		130		108
2.30%, 05/01/2031		370		312
3.09%, 09/15/2027		110		104
3.39%, 05/01/2029		145		135
Rayonier LP, 2.75%, 05/17/2031		165		138
Realty Income Corp.,
1.63%, 12/15/2030	GBP	100		100
1.75%, 07/13/2033	GBP	1,100		1,030
2.85%, 12/15/2032		800		690
3.00%, 01/15/2027		2,000		1,896
3.10%, 12/15/2029		800		730
3.88%, 04/15/2025		100		99
Segro Capital Sarl, (Luxembourg), Reg. S, 1.88%, 03/23/2030	EUR	825		755
Simon International Finance SCA, (Luxembourg), Reg. S, 1.25%, 05/13/2025	EUR	425		422


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


REITS — continued
Simon Property Group LP,
1.38%, 01/15/2027		70		61
2.25%, 01/15/2032		2,170		1,737
3.50%, 09/01/2025		80		78
Sun Communities Operating LP, 2.30%, 11/01/2028		160		137
Unibail-Rodamco-Westfield SE, (France), Reg. S, 1.38%, 12/04/2031	EUR	800		600
Ventas Realty LP, 4.13%, 01/15/2026		2,300		2,278
VICI Properties LP,
4.95%, 02/15/2030		1,645		1,559
5.63%, 05/15/2052		95		86
Welltower, Inc.,
2.75%, 01/15/2031		50		42
3.10%, 01/15/2030		2,400		2,130
3.85%, 06/15/2032		75		69
4.50%, 01/15/2024		3,500		3,522
4.50%, 12/01/2034	GBP	300		353
4.80%, 11/20/2028	GBP	850		1,068
Weyerhaeuser Co.,
4.00%, 11/15/2029		35		33
4.00%, 04/15/2030		1,500		1,415
4.00%, 03/09/2052		75		63
WP Carey, Inc., 2.25%, 04/01/2033		1,000		770
WPC Eurobond BV, (Netherlands),
0.95%, 06/01/2030	EUR	1,800		1,378
1.35%, 04/15/2028	EUR	425		372
2.13%, 04/15/2027	EUR	600		569


				48,036

Savings & Loans — 0.0% (g)
Coventry Building Society, (United Kingdom), Reg. S, 0.01%, 07/07/2028	EUR	100		93
Nationwide Building Society, (United Kingdom),
Reg. S, 0.63%, 03/25/2027	EUR	100		99
Reg. S, 5.63%, 01/28/2026	GBP	100		134
Yorkshire Building Society, (United Kingdom), Reg. S, 0.01%, 10/13/2027	EUR	100		94


				420

Total Financial				504,682

Government — 2.0%
Multi-National — 1.0%
African Development Bank, (Supranational),
0.25%, 11/21/2024	EUR	925		944
0.50%, 03/22/2027	EUR	1,000		992
0.88%, 05/24/2028	EUR	200		199
1.63%, 09/16/2022		65		65
Asian Development Bank, (Supranational),
Reg. S, 0.03%, 01/31/2030	EUR	1,850		1,676
0.35%, 07/16/2025	EUR	800		811
1.63%, 01/24/2023		280		278


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Multi-National — continued
1.63%, 03/15/2024		100		98
1.75%, 09/13/2022		270		270
2.63%, 01/30/2024		258		256
Asian Infrastructure Investment Bank (The), (Supranational), 0.50%, 10/30/2024		145		136
Council Of Europe Development Bank, (Supranational),
Reg. S, 0.00%, 04/09/2027	EUR	2,000		1,939
Reg. S, 0.38%, 10/27/2022	EUR	725		761
Reg. S, 0.38%, 03/27/2025	EUR	175		178
Reg. S, 0.63%, 01/30/2029	EUR	800		776
Reg. S, 0.75%, 06/09/2025	EUR	50		51
Erste Abwicklungsanstalt, (Germany), Reg. S, 0.01%, 11/03/2023	EUR	1,000		1,033
Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial, (Supranational),
Reg. S, 0.25%, 04/25/2023	EUR	825		861
4.55%, 03/30/2027	CAD	300		241
5.50%, 06/07/2032	GBP	300		446
European Bank for Reconstruction & Development, (Supranational),
0.00%, 01/10/2024	EUR	2,000		2,061
0.25%, 07/10/2023		95		93
0.50%, 05/19/2025		135		125
6.45%, 12/13/2022	IDR	10,000,000		675
European Investment Bank, (Supranational),
0.00%, 10/16/2023	EUR	3,200		3,319
0.00%, 03/15/2024	EUR	300		309
0.00%, 03/25/2025	EUR	10,200		10,329
Reg. S, 0.00%, 03/13/2026	EUR	700		697
Reg. S, 0.00%, 06/17/2027	EUR	1,500		1,453
Zero Coupon, 05/28/2037 (e)	CAD	150		61
Reg. S, 0.01%, 11/15/2035	EUR	200		153
Reg. S, 0.05%, 05/24/2024	EUR	2,000		2,055
0.05%, 01/16/2030	EUR	1,500		1,369
Reg. S, 0.13%, 12/14/2026	GBP	975		1,071
Reg. S, 0.25%, 06/15/2040	EUR	2,050		1,469
Reg. S, 0.38%, 04/14/2026	EUR	3,000		3,023
0.63%, 07/25/2025		100		93
Reg. S, 0.88%, 12/15/2023	GBP	1,375		1,638
0.88%, 09/13/2047	EUR	100		76
Reg. S, 1.00%, 04/14/2032	EUR	1,675		1,585
Reg. S, 1.00%, 11/14/2042	EUR	2,475		2,011
Reg. S, 1.13%, 09/15/2036	EUR	2,050		1,814
Reg. S, 1.38%, 03/07/2025	GBP	100		118
1.50%, 10/16/2048	EUR	445		391
1.63%, 03/14/2025		200		193
Reg. S, 2.25%, 10/14/2022	EUR	4,100		4,326
Reg. S, 2.50%, 10/31/2022	GBP	1,000		1,221
2.50%, 03/15/2023		180		180


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Multi-National — continued
2.75%, 09/13/2030	EUR	130		144
Reg. S, 3.00%, 09/28/2022	EUR	4,600		4,858
3.13%, 12/14/2023		250		250
3.25%, 01/29/2024		315		316
Reg. S, 3.63%, 03/14/2042	EUR	25		31
Reg. S, 4.50%, 03/07/2044	GBP	1,100		1,668
Reg. S, 6.27%, 08/28/2024	IDR	10,000,000		674
Series 1981, 2.63%, 03/15/2035	EUR	40		43
Series DIP, Reg. S, 4.63%, 10/12/2054	GBP	555		912
FMS Wertmanagement, (Germany),
Reg. S, 0.38%, 04/29/2030	EUR	100		92
Reg. S, 1.13%, 03/20/2023	GBP	1,200		1,452
Inter-American Development Bank, (Supranational),
0.50%, 09/23/2024		100		95
1.25%, 12/15/2023	GBP	1,650		1,975
2.13%, 01/15/2025		290		283
2.50%, 01/18/2023		230		230
2.63%, 01/16/2024		230		229
3.00%, 02/21/2024		100		100
7.88%, 03/14/2023	IDR	10,000,000		682
International Development Association, (Supranational), Reg. S, 0.00%, 10/19/2026	EUR	1,000		974
International Finance Corp., (Supranational), 2.88%, 07/31/2023		80		80
North American Development Bank, (Supranational),
Reg. S, 0.20%, 11/28/2028	CHF	200		192
2.40%, 10/26/2022		303		302


				69,501

Municipal — 0.0% (g)
Transport for London, (United Kingdom), Reg. S, 4.00%, 09/12/2033	GBP	500		605

Regional (State/Province) — 0.0% (g)
KAF Kaerntner Ausgleichszahlungs-Fonds, (Austria), Reg. S, Zero Coupon, 01/14/2032	EUR	860		721
UK Municipal Bonds Agency Finance Co. Designated Activity Co., (Ireland), Reg. S, 1.63%, 08/26/2060	GBP	100		78

				799

Sovereign — 1.0%
European Financial Stability Facility, (Luxembourg),
Reg. S, 0.00%, 10/13/2027	EUR	1,325		1,272
Reg. S, 0.00%, 01/20/2031	EUR	5,000		4,416
Reg. S, 0.05%, 01/18/2052	EUR	500		264


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Sovereign — continued
Reg. S, 0.13%, 10/17/2023	EUR	3,500		3,636
Reg. S, 0.40%, 02/17/2025	EUR	1,000		1,025
Reg. S, 0.50%, 01/20/2023	EUR	2,425		2,545
Reg. S, 0.50%, 07/11/2025	EUR	1,000		1,023
Reg. S, 0.63%, 10/16/2026	EUR	100		101
Reg. S, 0.70%, 01/20/2050	EUR	1,300		897
Reg. S, 0.88%, 04/10/2035	EUR	1,500		1,312
Reg. S, 1.20%, 02/17/2045	EUR	1,225		1,012
Reg. S, 1.45%, 09/05/2040	EUR	170		151
Reg. S, 1.75%, 07/17/2053	EUR	1,050		945
Reg. S, 2.25%, 09/05/2022	EUR	3,700		3,895
Reg. S, 2.75%, 12/03/2029	EUR	520		577
European Stability Mechanism, (Supranational),
Reg. S, 0.00%, 10/18/2022	EUR	2,000		2,097
Reg. S, 0.00%, 02/10/2023	EUR	100		105
Reg. S, 0.00%, 12/15/2026	EUR	500		490
Reg. S, 0.01%, 03/04/2030	EUR	1,000		906
Reg. S, 0.10%, 07/31/2023	EUR	2,000		2,083
Reg. S, 0.50%, 03/02/2026	EUR	2,900		2,940
Reg. S, 0.75%, 09/05/2028	EUR	1,450		1,430
Reg. S, 0.88%, 07/18/2042	EUR	20		16
Reg. S, 1.75%, 10/20/2045	EUR	550		513
Reg. S, 1.80%, 11/02/2046	EUR	920		863
Reg. S, 1.85%, 12/01/2055	EUR	80		74
Reg. S, 2.13%, 11/20/2023	EUR	700		746
European Union, (Supranational),
Reg. S, 0.00%, 07/06/2026	EUR	3,350		3,315
Reg. S, 0.00%, 10/04/2028	EUR	1,800		1,695
Reg. S, 0.00%, 04/22/2031	EUR	3,000		2,639
Reg. S, 0.25%, 04/22/2036	EUR	1,500		1,189
Reg. S, 0.45%, 07/04/2041	EUR	500		365
Reg. S, 0.50%, 04/04/2025	EUR	1,875		1,929
Reg. S, 0.63%, 11/04/2023	EUR	925		968
Reg. S, 0.70%, 07/06/2051	EUR	1,000		679
Reg. S, 0.75%, 04/04/2031	EUR	2,025		1,910
Reg. S, 0.80%, 07/04/2025	EUR	2,000		2,070
Reg. S, 1.13%, 04/04/2036	EUR	665		599
Reg. S, 3.75%, 04/04/2042	EUR	15		19
Series SURE, Reg. S, 0.00%, 11/04/2025	EUR	2,698		2,710
Series SURE, Reg. S, 0.00%, 06/02/2028	EUR	5,500		5,218
Series SURE, Reg. S, 0.00%, 07/04/2035	EUR	350		272
Series SURE, Reg. S, 0.10%, 10/04/2040	EUR	3,975		2,749
Series SURE, Reg. S, 0.20%, 06/04/2036	EUR	5,000		3,915
Series SURE, Reg. S, 0.30%, 11/04/2050	EUR	1,220		732
HM Treasury UK Sovereign Sukuk plc, (United Kingdom), Reg. S, 0.33%, 07/22/2026	GBP	900		1,022
LCR Finance plc, (United Kingdom),
Reg. S, 4.50%, 12/07/2028	GBP	300		410
Reg. S, 4.50%, 12/07/2038	GBP	110		160
5.10%, 03/07/2051	GBP	50		85


				69,984

Total Government				140,889


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Industrial — 1.0%
Aerospace/Defense — 0.1%
Airbus SE, (Netherlands),
Reg. S, 2.00%, 04/07/2028	EUR	100		103
Reg. S, 2.38%, 06/09/2040	EUR	900		779
BAE Systems plc, (United Kingdom), 1.90%, 02/15/2031 (e)		1,350		1,089
Boeing Co. (The),
4.88%, 05/01/2025		200		200
5.71%, 05/01/2040		2,300		2,154
5.81%, 05/01/2050		50		46
General Dynamics Corp.,
2.25%, 06/01/2031		100		87
3.75%, 05/15/2028		85		84
Lockheed Martin Corp.,
3.55%, 01/15/2026		120		120
4.09%, 09/15/2052		35		33
4.15%, 06/15/2053		100		94
4.30%, 06/15/2062		30		28
Raytheon Technologies Corp.,
2.82%, 09/01/2051		100		72
3.20%, 03/15/2024		30		30
3.95%, 08/16/2025		140		141
7.20%, 08/15/2027		20		22
Teledyne Technologies, Inc.,
1.60%, 04/01/2026		80		72
2.75%, 04/01/2031		540		455
Thales SA, (France),
Reg. S, 0.00%, 03/26/2026	EUR	600		571
Reg. S, 1.00%, 05/15/2028	EUR	1,700		1,607


				7,787

Building Materials — 0.1%
Aliaxis Finance SA, (Belgium), Reg. S, 0.88%, 11/08/2028	EUR	800		602
Buzzi Unicem SpA, (Italy), Reg. S, 2.13%, 04/28/2023	EUR	1,225		1,284
Carrier Global Corp.,
2.24%, 02/15/2025		20		19
2.49%, 02/15/2027		10		9
Eagle Materials, Inc., 2.50%, 07/01/2031		44		35
Lennox International, Inc., 1.35%, 08/01/2025		12		11
Martin Marietta Materials, Inc., 4.25%, 07/02/2024		4,540		4,565
Owens Corning, 3.95%, 08/15/2029		1,000		930
Vulcan Materials Co.,
3.50%, 06/01/2030		60		54
4.70%, 03/01/2048		440		405


				7,914

Electrical Components & Equipment — 0.0% (g)
Emerson Electric Co.,
2.00%, 12/21/2028		115		102
2.80%, 12/21/2051		40		29


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electrical Components & Equipment — continued
Schneider Electric SE, (France), Reg. S, 1.50%, 09/08/2023	EUR	1,000		1,051
Signify NV, (Netherlands),
Reg. S, 2.00%, 05/11/2024	EUR	550		566
Reg. S, 2.38%, 05/11/2027	EUR	175		174


				1,922

Electronics — 0.1%
Agilent Technologies, Inc.,
2.30%, 03/12/2031		85		69
2.75%, 09/15/2029		60		53
3.05%, 09/22/2026		100		96
Allegion US Holding Co., Inc., 3.20%, 10/01/2024		85		83
Amphenol Corp., 2.80%, 02/15/2030		147		129
Amphenol Technologies Holding GmbH, (Germany), Reg. S, 0.75%, 05/04/2026	EUR	1,325		1,295
Arrow Electronics, Inc., 3.88%, 01/12/2028		50		48
Flex Ltd., (Singapore), 3.75%, 02/01/2026		25		24
Honeywell International, Inc., 2.50%, 11/01/2026		70		67
Jabil, Inc., 1.70%, 04/15/2026		150		134
Keysight Technologies, Inc.,
4.55%, 10/30/2024		200		203
4.60%, 04/06/2027		55		55
TD SYNNEX Corp., 1.75%, 08/09/2026 (e)		65		57
Trimble, Inc., 4.90%, 06/15/2028		69		67

				2,380

Engineering & Construction — 0.1%
Aeroports de Paris, (France),
Reg. S, 1.00%, 01/05/2029	EUR	300		280
Reg. S, 1.50%, 07/02/2032	EUR	100		87
Reg. S, 2.75%, 04/02/2030	EUR	2,500		2,542
Cellnex Finance Co. SA, (Spain), Reg. S, 2.00%, 02/15/2033	EUR	1,200		833
CRCC Hean Ltd., (Hong Kong), Reg. S, 0.88%, 05/20/2026	EUR	300		306
DAA Finance plc, (Ireland), Reg. S, 1.60%, 11/05/2032	EUR	100		86
Heathrow Funding Ltd., (Jersey),
Reg. S, 4.63%, 10/31/2046	GBP	325		380
Reg. S, 6.45%, 12/10/2031	GBP	225		317
Reg. S, 6.75%, 12/03/2026	GBP	50		68
Reg. S, 7.13%, 02/14/2024	GBP	425		539
Royal Schiphol Group NV, (Netherlands), Reg. S, 0.38%, 09/08/2027	EUR	300		277
Technip Energies NV, (Netherlands), Reg. S, 1.13%, 05/28/2028		EUR 1,100		932
Vantage Towers AG, (Germany), Reg. S, 0.38%, 03/31/2027	EUR	600		542


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Engineering & Construction — continued
Worley US Finance Sub Ltd., Reg. S, 0.88%, 06/09/2026	EUR	575		539

				7,728

Environmental Control — 0.0% (g)
Republic Services, Inc.,
2.38%, 03/15/2033		300		246
2.50%, 08/15/2024		50		48
Waste Connections, Inc., (Canada),
2.60%, 02/01/2030		200		175
4.25%, 12/01/2028		30		30

				499

Hand/Machine Tools — 0.0% (g)
Snap-on, Inc., 3.10%, 05/01/2050		30		24

Machinery — Construction & Mining — 0.1%
Caterpillar Financial Services Corp.,
0.80%, 11/13/2025		150		136
3.40%, 05/13/2025		3,700		3,694
Metso Outotec OYJ, (Finland), Reg. S, 0.88%, 05/26/2028	EUR	500		452

				4,282

Machinery — Diversified — 0.1%
AGCO International Holdings BV, (Netherlands), Reg. S, 0.80%, 10/06/2028	EUR	1,400		1,169
Atlas Copco AB, (Sweden), Reg. S, 0.63%, 08/30/2026	EUR	425		416
CNH Industrial Capital LLC, 3.95%, 05/23/2025		1,065		1,055
CNH Industrial Finance Europe SA, (Luxembourg), Reg. S, 0.00%, 04/01/2024	EUR	1,000		1,015
Highland Holdings Sarl, (Luxembourg), 0.93%, 12/15/2031	EUR	1,050		874
IDEX Corp.,
2.63%, 06/15/2031		180		150
3.00%, 05/01/2030		332		290
John Deere Capital Corp.,
3.35%, 06/12/2024		60		60
3.40%, 06/06/2025		115		115
John Deere Cash Management SARL, (Luxembourg), Reg. S, 1.65%, 06/13/2039	EUR	425		355
Otis Worldwide Corp.,
2.06%, 04/05/2025		20		19
3.36%, 02/15/2050		10		7
Westinghouse Air Brake Technologies Corp.,
3.20%, 06/15/2025		50		48
4.40%, 03/15/2024		1,800		1,804

				7,377


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Miscellaneous Manufacturers — 0.1%
Alstom SA, (France), Reg. S, 0.00%, 01/11/2029	EUR	200		167
Carlisle Cos., Inc., 2.20%, 03/01/2032		100		79
Eaton Capital Unlimited Co., (Ireland), Reg. S, 0.70%, 05/14/2025	EUR	1,325		1,312
GE Capital International Funding Co. Unlimited Co., (Ireland), 4.42%, 11/15/2035		200		188
GE Capital UK Funding Unlimited Co., (Ireland), Reg. S, 5.88%, 01/18/2033	GBP	950		1,278
General Electric Co.,
Reg. S, 5.25%, 12/07/2028	GBP	500		654
Reg. S, 5.38%, 12/18/2040	GBP	4		5
Illinois Tool Works, Inc., 1.25%, 05/22/2023	EUR	1,025		1,073
Parker-Hannifin Corp.,
1.13%, 03/01/2025	EUR	850		861
3.65%, 06/15/2024		50		50
4.00%, 06/14/2049		25		21
Pentair Finance Sarl, (Luxembourg), 4.50%, 07/01/2029		2,000		1,937
Siemens Financieringsmaatschappij NV, (Netherlands), Reg. S, 0.30%, 02/28/2024	EUR	20		21
Textron, Inc., 2.45%, 03/15/2031		1,900		1,565
Trane Technologies Luxembourg Finance SA, (Luxembourg), 4.50%, 03/21/2049		15		13

				9,224

Packaging & Containers — 0.1%
Ball Corp., 0.88%, 03/15/2024	EUR	2,000		1,974
DS Smith plc, (United Kingdom), Reg. S, 0.88%, 09/12/2026	EUR	2,300		2,157
Packaging Corp. of America, 3.05%, 10/01/2051		35		25
Sealed Air Corp., 5.50%, 09/15/2025 (e)		1,460		1,457
SIG Combibloc PurchaseCo. Sarl, (Luxembourg), Reg. S, 1.88%, 06/18/2023	EUR	2,000		2,066

				7,679

Transportation — 0.2%
AP Moller — Maersk A/S, (Denmark),
Reg. S, 1.75%, 03/16/2026	EUR	850		869
Reg. S, 4.00%, 04/04/2025	GBP	800		980
Brambles Finance Ltd., (Australia), Reg. S, 2.38%, 06/12/2024	EUR	425		442
Burlington Northern Santa Fe LLC,
3.30%, 09/15/2051		20		16
4.15%, 04/01/2045		50		46


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Transportation — continued
4.55%, 09/01/2044		170		164
4.95%, 09/15/2041		700		707
5.40%, 06/01/2041		70		74
Canadian Pacific Railway Co., (Canada), 3.10%, 12/02/2051		210		156
Deutsche Bahn Finance GMBH, (Germany),
Reg. S, 0.10%, 01/28/2036	CHF	150		121
Reg. S, 0.50%, 04/09/2027	EUR	140		137
Reg. S, 1.00%, 12/17/2027	EUR	300		297
Reg. S, 1.13%, 05/29/2051	EUR	112		72
Reg. S, 1.38%, 03/28/2031	EUR	2,000		1,894
Reg. S, 1.38%, 04/16/2040	EUR	50		39
Reg. S, 1.50%, 08/26/2024	CHF	500		531
Reg. S, 1.50%, 12/08/2032	EUR	200		183
Reg. S, 1.63%, 08/16/2033	EUR	189		176
1.99%, 07/08/2030	AUD	200		109
Reg. S, 3.50%, 09/27/2024	AUD	300		204
Reg. S, 3.75%, 10/29/2025	AUD	1,000		677
Series CB, Reg. S, (EUR Swap Rate 5 Year + 1.89%), 1.60%, 07/18/2029 (x) (aa)	EUR	1,700		1,378
Ferrovie dello Stato Italiane SpA, (Italy), Reg. S, 1.50%, 06/27/2025	EUR	810		828
Kansas City Southern, 4.20%, 11/15/2069		10		8
La Poste SA, (France),
Reg. S, 0.00%, 07/18/2029	EUR	200		173
Reg. S, 0.38%, 09/17/2027	EUR	100		94
Reg. S, 0.63%, 10/21/2026	EUR	1,300		1,274
Reg. S, 0.63%, 01/18/2036	EUR	600		422
Reg. S, 1.38%, 04/21/2032	EUR	1,000		925
Network Rail Infrastructure Finance plc, (United Kingdom), Reg. S, 4.38%, 12/09/2030	GBP	190		264
Norfolk Southern Corp., 4.10%, 05/15/2121		15		11
OeBB-Infrastruktur AG, (Austria),
2.25%, 05/28/2029	EUR	325		346
3.00%, 10/24/2033	EUR	100		112
Reg. S, 3.38%, 05/18/2032	EUR	4		5
Reg. S, 3.88%, 06/30/2025	EUR	80		90
Union Pacific Corp.,
2.97%, 09/16/2062		25		17
3.60%, 09/15/2037		50		45
3.75%, 02/05/2070		5		4
3.80%, 04/06/2071		10		8
United Parcel Service, Inc.,
1.50%, 11/15/2032	EUR	1,125		1,014
5.30%, 04/01/2050		105		116

				15,028


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Trucking & Leasing — 0.0% (g)
Penske Truck Leasing Co. LP / PTL Finance Corp., 4.40%, 07/01/2027 (e)		730		717

Total Industrial				72,561

Technology — 0.5%
Computers — 0.2%
Amdocs Ltd., (Guernsey), 2.54%, 06/15/2030		185		156
Apple, Inc.,
1.00%, 11/10/2022	EUR	700		735
1.20%, 02/08/2028		295		259
1.38%, 05/24/2029	EUR	100		99
1.40%, 08/05/2028		30		26
1.63%, 11/10/2026	EUR	1,125		1,158
2.38%, 02/08/2041		85		65
2.55%, 08/20/2060		15		10
2.65%, 05/11/2050		25		19
2.65%, 02/08/2051		30		22
2.80%, 02/08/2061		20		14
2.85%, 08/05/2061		40		29
3.05%, 07/31/2029	GBP	425		518
3.25%, 02/23/2026		50		50
3.35%, 02/09/2027		15		15
3.75%, 09/12/2047		1,000		909
Capgemini SE, (France), Reg. S, 0.63%, 06/23/2025	EUR	100		99
CGI, Inc., (Canada),
1.45%, 09/14/2026		60		53
2.30%, 09/14/2031		150		121
Dell International LLC / EMC Corp.,
3.38%, 12/15/2041 (e)		10		7
3.45%, 12/15/2051 (e)		10		7
5.45%, 06/15/2023		26		26
5.85%, 07/15/2025		10		11
6.02%, 06/15/2026		135		140
8.10%, 07/15/2036		24		28
Dell, Inc., 6.50%, 04/15/2038		5		5
Fortinet, Inc., 2.20%, 03/15/2031		605		491
Genpact Luxembourg Sarl, (Luxembourg), 3.38%, 12/01/2024		1,400		1,375
HP, Inc.,
2.20%, 06/17/2025		90		85
2.65%, 06/17/2031		384		309
3.00%, 06/17/2027		100		93
4.00%, 04/15/2029		70		66
6.00%, 09/15/2041		77		78
International Business Machines Corp.,
3.43%, 02/09/2052		100		77
4.25%, 05/15/2049		100		89
Kyndryl Holdings, Inc., 2.05%, 10/15/2026 (e)		20		17


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Computers — continued
NetApp, Inc., 1.88%, 06/22/2025		1,725		1,611
Teledyne FLIR LLC, 2.50%, 08/01/2030		1,530		1,271
Teleperformance, (France),
Reg. S, 0.25%, 11/26/2027	EUR	500		449
Reg. S, 1.88%, 07/02/2025	EUR	200		206
Western Digital Corp., 3.10%, 02/01/2032		125		96

				10,894

Office/Business & Equipment — 0.0% (g)
CDW LLC / CDW Finance Corp.,
2.67%, 12/01/2026		985		878
3.28%, 12/01/2028		42		36
4.13%, 05/01/2025		1,915		1,861

				2,775

Semiconductors — 0.2%
Analog Devices, Inc., 2.95%, 10/01/2051		50		38
Applied Materials, Inc., 3.30%, 04/01/2027		55		54
ASML Holding NV, (Netherlands),
Reg. S, 0.63%, 05/07/2029	EUR	100		92
Reg. S, 1.63%, 05/28/2027	EUR	1,450		1,474
Broadcom Corp. / Broadcom Cayman Finance Ltd., (Multinational), 3.88%, 01/15/2027		90		87
Broadcom, Inc.,
3.14%, 11/15/2035 (e)		1,090		834
3.15%, 11/15/2025		217		209
3.19%, 11/15/2036 (e)		3,015		2,301
3.42%, 04/15/2033 (e)		93		77
3.46%, 09/15/2026		130		125
3.47%, 04/15/2034 (e)		100		82
3.50%, 02/15/2041 (e)		25		19
3.75%, 02/15/2051 (e)		65		49
4.00%, 04/15/2029 (e)		135		125
4.11%, 09/15/2028		20		19
4.15%, 04/15/2032 (e)		60		54
Infineon Technologies AG, (Germany),
Reg. S, 0.75%, 06/24/2023	EUR	800		833
Reg. S, 1.13%, 06/24/2026	EUR	200		198
Microchip Technology, Inc., 4.25%, 09/01/2025		3,680		3,586
Micron Technology, Inc., 4.66%, 02/15/2030		52		50
NVIDIA Corp., 3.70%, 04/01/2060		10		8
NXP BV / NXP Funding LLC / NXP USA, Inc., (Multinational),
3.40%, 05/01/2030		1,000		884
4.40%, 06/01/2027		590		582
5.00%, 01/15/2033		1,450		1,420


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Semiconductors — continued
NXP BV / NXP Funding LLC, (Multinational), 4.88%, 03/01/2024		150		152
Qorvo, Inc., 1.75%, 12/15/2024 (e)		16		15
Skyworks Solutions, Inc., 1.80%, 06/01/2026		15		13
Texas Instruments, Inc.,
1.75%, 05/04/2030		90		77
2.70%, 09/15/2051		60		46
4.15%, 05/15/2048		17		17
Xilinx, Inc., 2.38%, 06/01/2030		95		84

				13,604

Software — 0.1%
Activision Blizzard, Inc., 2.50%, 09/15/2050		20		14
Adobe, Inc., 2.30%, 02/01/2030		88		78
Electronic Arts, Inc., 2.95%, 02/15/2051		45		33
Fidelity National Information Services, Inc.,
3.10%, 03/01/2041		180		132
3.36%, 05/21/2031	GBP	100		113
Fiserv, Inc., 3.50%, 07/01/2029		170		155
Intuit, Inc., 1.65%, 07/15/2030		283		233
Microsoft Corp.,
2.53%, 06/01/2050		1,160		854
2.68%, 06/01/2060		110		80
3.04%, 03/17/2062		30		23
Oracle Corp.,
1.65%, 03/25/2026		40		36
2.50%, 04/01/2025		350		333
3.65%, 03/25/2041		115		86
3.85%, 04/01/2060		60		41
3.95%, 03/25/2051		90		66
4.10%, 03/25/2061		90		65
Roper Technologies, Inc., 1.75%, 02/15/2031		2,000		1,563
SAP SE, (Germany), Reg. S, 1.00%, 04/01/2025	EUR	50		51
ServiceNow, Inc., 1.40%, 09/01/2030		115		90
Take-Two Interactive Software, Inc., 3.30%, 03/28/2024		70		69
VMware, Inc., 4.50%, 05/15/2025		35		35
Workday, Inc., 3.50%, 04/01/2027		480		459

				4,609

Total Technology				31,882


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Utilities — 1.7%
Electric — 1.3%
A2A SpA, (Italy),
Reg. S, 1.00%, 07/16/2029	EUR	100		88
Reg. S, 1.00%, 11/02/2033	EUR	100		75
ACEA SpA, (Italy),
Reg. S, 0.50%, 04/06/2029	EUR	100		85
Reg. S, 2.63%, 07/15/2024	EUR	100		105
AEP Texas, Inc.,
3.45%, 05/15/2051		10		8
4.70%, 05/15/2032		885		883
5.25%, 05/15/2052		10		10
Series I, 2.10%, 07/01/2030		2,600		2,167
AES Corp. (The), 2.45%, 01/15/2031		25		20
Alabama Power Co., 3.00%, 03/15/2052		10		7
Alliander NV, (Netherlands), 2.88%, 06/14/2024	EUR	100		106
Ameren Corp.,
2.50%, 09/15/2024		30		29
3.50%, 01/15/2031		10		9
Ameren Illinois Co.,
1.55%, 11/15/2030		30		24
3.25%, 03/15/2050		1,200		943
American Electric Power Co., Inc.,
2.03%, 03/15/2024		90		87
2.30%, 03/01/2030		25		21
3.25%, 03/01/2050		20		15
Amprion GmbH, (Germany), Reg. S, 0.63%, 09/23/2033	EUR	1,500		1,099
Appalachian Power Co.,
Series Y, 4.50%, 03/01/2049		20		18
Series Z, 3.70%, 05/01/2050		45		36
Arizona Public Service Co.,
2.60%, 08/15/2029		84		74
3.35%, 05/15/2050		10		7
4.25%, 03/01/2049		10		9
Atlantic City Electric Co., 4.00%, 10/15/2028		50		49
Baltimore Gas and Electric Co.,
2.90%, 06/15/2050		50		37
4.55%, 06/01/2052		365		356
Berkshire Hathaway Energy Co.,
2.85%, 05/15/2051		10		7
4.25%, 10/15/2050		15		14
4.60%, 05/01/2053 (e)		25		24
5.15%, 11/15/2043		60		62
Black Hills Corp.,
3.05%, 10/15/2029		20		18
3.88%, 10/15/2049		10		8
Cadent Finance plc, (United Kingdom), Reg. S, 2.63%, 09/22/2038	GBP	1,325		1,244


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
CenterPoint Energy Houston Electric LLC,
Series AD, 2.90%, 07/01/2050		45		34
Series AF, 3.35%, 04/01/2051		10		8
Series AH, 3.60%, 03/01/2052		10		9
CenterPoint Energy, Inc.,
2.95%, 03/01/2030		45		40
4.25%, 11/01/2028		3		3
CEZ A/S, (Czech Republic), Reg. S, 2.38%, 04/06/2027	EUR	725		714
Coentreprise de Transport d’Electricite SA, (France),
Reg. S, 0.88%, 09/29/2024	EUR	100		101
Reg. S, 2.13%, 07/29/2032	EUR	100		90
Commonwealth Edison Co.,
3.00%, 03/01/2050		55		42
3.70%, 08/15/2028		10		10
4.00%, 03/01/2048		25		22
4.00%, 03/01/2049		10		9
4.35%, 11/15/2045		980		910
Connecticut Light and Power Co. (The), Series A, 2.05%, 07/01/2031		905		767
Consolidated Edison Co. of New York, Inc.,
3.60%, 06/15/2061		10		8
3.85%, 06/15/2046		10		8
Series 09-C, 5.50%, 12/01/2039		10		10
Series 20A, 3.35%, 04/01/2030		70		65
Series 20B, 3.95%, 04/01/2050		55		48
Series A, 4.13%, 05/15/2049		20		18
Series C, 3.00%, 12/01/2060		20		14
Series E, 4.65%, 12/01/2048		10		10
Constellation Energy Generation LLC, 5.60%, 06/15/2042		20		19
Consumers Energy Co.,
2.50%, 05/01/2060		10		6
3.10%, 08/15/2050		30		23
3.25%, 08/15/2046		1,100		890
3.75%, 02/15/2050		25		22
Dominion Energy South Carolina, Inc., 4.60%, 06/15/2043		1,400		1,326
Dominion Energy, Inc.,
3.90%, 10/01/2025		220		219
4.25%, 06/01/2028		20		20
Series A, 4.60%, 03/15/2049		10		9
Series C, 3.38%, 04/01/2030		20		18
DTE Electric Co.,
2.95%, 03/01/2050		25		19
3.70%, 03/15/2045		1,100		944
3.95%, 03/01/2049		10		9
Series B, 3.25%, 04/01/2051		20		16


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
DTE Energy Co.,
Series C, 3.40%, 06/15/2029		19		17
Series F, 1.05%, 06/01/2025		1,400		1,289
Duke Energy Carolinas LLC,
3.55%, 03/15/2052		10		8
3.95%, 11/15/2028		40		40
5.30%, 02/15/2040		10		10
Duke Energy Corp.,
0.90%, 09/15/2025		40		36
2.45%, 06/01/2030		110		93
2.55%, 06/15/2031		10		8
2.65%, 09/01/2026		30		28
3.10%, 06/15/2028	EUR	2,150		2,227
3.50%, 06/15/2051		10		8
3.75%, 09/01/2046		10		8
3.85%, 06/15/2034	EUR	2,200		2,256
4.20%, 06/15/2049		20		17
Duke Energy Florida LLC,
3.00%, 12/15/2051		20		15
4.20%, 07/15/2048		10		9
Duke Energy Indiana LLC,
2.75%, 04/01/2050		20		14
Series YYY, 3.25%, 10/01/2049		40		31
Duke Energy Ohio, Inc.,
2.13%, 06/01/2030		30		25
3.65%, 02/01/2029		10		10
4.30%, 02/01/2049		80		73
E.ON International Finance BV, (Netherlands), Reg. S, 6.13%, 07/06/2039	GBP	350		493
E.ON SE, (Germany), Reg. S, 1.00%, 10/07/2025	EUR	100		101
EDP — Energias de Portugal SA, (Portugal), Reg. S, 1.63%, 04/15/2027	EUR	100		99
EDP Finance BV, (Netherlands), Reg. S, 2.00%, 04/22/2025	EUR	700		728
Electricite de France SA, (France),
Reg. S, 1.00%, 10/13/2026	EUR	600		594
Reg. S, 1.00%, 11/29/2033	EUR	100		79
Reg. S, 1.88%, 10/13/2036	EUR	200		163
Reg. S, 2.00%, 12/09/2049	EUR	600		393
Reg. S, 5.13%, 09/22/2050	GBP	400		488
Reg. S, (ICE Swap Rate GBP SONIA + 3.32%), 5.88%, 01/22/2029 (x) (aa)	GBP	300		298
5.88%, 07/18/2031	GBP	265		354
Reg. S, (GBP Swap Rate 13 Year + 4.23%), 6.00%, 01/29/2026 (x) (aa)	GBP	100		107
Reg. S, 6.13%, 06/02/2034	GBP	300		407


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
EnBW Energie Baden-Wuerttemberg AG, (Germany),
Reg. S, (EUR Swap Rate 5 Year + 1.65%), 1.38%, 08/31/2081 (aa)	EUR	100		77
Reg. S, (EUR Swap Rate 5 Year + 2.32%), 1.88%, 06/29/2080 (aa)	EUR	100		88
EnBW International Finance BV, (Netherlands),
Reg. S, 0.13%, 03/01/2028	EUR	182		159
Reg. S, 0.50%, 03/01/2033	EUR	97		72
Reg. S, 0.63%, 04/17/2025	EUR	200		199
Enel Finance International NV, (Netherlands),
Reg. S, 0.00%, 06/17/2024	EUR	2,275		2,297
Reg. S, 0.88%, 09/28/2034	EUR	1,300		945
2.65%, 09/10/2024 (e)		3,500		3,392
3.50%, 04/06/2028 (e)		1,700		1,574
5.00%, 06/15/2032 (e)		1,240		1,200
e-netz Suedhessen AG, (Germany), 6.13%, 04/23/2041	EUR	20		29
Enexis Holding NV, (Netherlands),
Reg. S, 0.75%, 07/02/2031	EUR	134		117
Reg. S, 0.88%, 04/28/2026	EUR	100		101
Reg. S, 1.50%, 10/20/2023	EUR	100		105
Engie SA, (France), Reg. S, (EUR Swap Rate 5 Year + 3.17%), 3.25%, 11/28/2024 (x) (aa)	EUR	1,800		1,776
Entergy Arkansas LLC, 4.20%, 04/01/2049		10		9
Entergy Corp.,
0.90%, 09/15/2025		30		27
3.75%, 06/15/2050		30		24
Entergy Louisiana LLC,
1.60%, 12/15/2030		2,300		1,846
2.90%, 03/15/2051		30		22
3.12%, 09/01/2027		2,500		2,381
3.25%, 04/01/2028		10		9
4.20%, 09/01/2048		10		9
Entergy Texas, Inc., 4.00%, 03/30/2029		15		15
ESB Finance DAC, (Ireland),
Reg. S, 1.75%, 02/07/2029	EUR	100		100
Reg. S, 1.88%, 06/14/2031	EUR	224		217
Reg. S, 2.13%, 06/08/2027	EUR	100		104
Evergy Kansas Central, Inc., 3.45%, 04/15/2050		5		4
Evergy Metro, Inc.,
4.20%, 03/15/2048		10		9
Series 2019, 4.13%, 04/01/2049		20		18
Series 2020, 2.25%, 06/01/2030		10		9
Evergy, Inc., 2.45%, 09/15/2024		3,000		2,890


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
Eversource Energy,
3.45%, 01/15/2050		30		23
4.20%, 06/27/2024		85		85
Series R, 1.65%, 08/15/2030		1,410		1,126
EWE AG, (Germany), Reg. S, 0.38%, 10/22/2032	EUR	90		68
Exelon Corp.,
4.05%, 04/15/2030		10		10
4.10%, 03/15/2052 (e)		20		17
4.45%, 04/15/2046		10		9
4.70%, 04/15/2050		10		9
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e)		1,100		1,084
Florida Power & Light Co.,
2.88%, 12/04/2051		35		26
3.15%, 10/01/2049		20		16
3.95%, 03/01/2048		500		461
4.13%, 06/01/2048		20		19
FLUVIUS System Operator CVBA, (Belgium),
Reg. S, 0.63%, 11/24/2031	EUR	100		79
Reg. S, 2.88%, 10/09/2023	EUR	400		424
Fortum OYJ, (Finland), Reg. S, 2.13%, 02/27/2029	EUR	100		87
Georgia Power Co.,
4.70%, 05/15/2032		2,350		2,362
Series A, 3.25%, 03/15/2051		20		15
Series B, 3.70%, 01/30/2050		60		48
Hera SpA, (Italy), Reg. S, 0.25%, 12/03/2030	EUR	160		125
Iberdrola International BV, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 1.59%), 1.88%, 02/22/2023 (x) (aa)	EUR	1,200		1,231
Series NC8, Reg. S, (EUR Swap Rate 5 Year + 2.57%), 2.25%, 01/28/2029 (x) (aa)	EUR	2,000		1,624
Interstate Power and Light Co., 3.50%, 09/30/2049		10		8
Iren SpA, (Italy), Reg. S, 1.00%, 07/01/2030	EUR	550		461
Kentucky Utilities Co., 3.30%, 06/01/2050		25		20
MidAmerican Energy Co.,
2.70%, 08/01/2052		15		11
3.10%, 05/01/2027		10		9
6.75%, 12/30/2031		10		12
Mississippi Power Co., Series B, 3.10%, 07/30/2051		40		28
Narragansett Electric Co. (The), 3.40%, 04/09/2030 (e)		200		188


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
National Grid Electricity Transmission plc, (United Kingdom), Reg. S, 2.00%, 04/17/2040	GBP	425		363
National Grid plc, (United Kingdom),
Reg. S, 0.55%, 09/18/2029	EUR	1,575		1,341
Reg. S, 2.18%, 06/30/2026	EUR	2,025		2,070
National Rural Utilities Cooperative Finance Corp.,
1.35%, 03/15/2031		50		39
3.45%, 06/15/2025		110		110
4.30%, 03/15/2049		20		19
Naturgy Finance BV, (Netherlands), Reg. S, 1.25%, 01/15/2026	EUR	1,000		993
Nevada Power Co.,
Series DD, 2.40%, 05/01/2030		100		87
Series EE, 3.13%, 08/01/2050		30		23
NextEra Energy Capital Holdings, Inc.,
2.25%, 06/01/2030		1,280		1,078
2.75%, 11/01/2029		35		31
Northern Powergrid Holdings Co., (United Kingdom), 7.25%, 12/15/2022	GBP	450		559
Northern Powergrid Yorkshire plc, (United Kingdom), Reg. S, 5.13%, 05/04/2035	GBP	50		66
Northern States Power Co.,
2.25%, 04/01/2031		1,450		1,271
2.60%, 06/01/2051		35		25
3.20%, 04/01/2052		30		24
4.50%, 06/01/2052		10		10
NRG Energy, Inc.,
2.00%, 12/02/2025 (e)		2,150		1,940
2.45%, 12/02/2027 (e)		2,275		1,956
NSTAR Electric Co.,
3.10%, 06/01/2051		30		23
4.55%, 06/01/2052		470		460
Oglethorpe Power Corp., 5.05%, 10/01/2048		20		19
Ohio Power Co., Series R, 2.90%, 10/01/2051		15		11
Oklahoma Gas and Electric Co., 4.15%, 04/01/2047		920		833
Oncor Electric Delivery Co. LLC,
3.10%, 09/15/2049		50		39
3.70%, 05/15/2050		5		4
Orsted A/S, (Denmark),
Reg. S, 5.75%, 04/09/2040	GBP	225		326
Reg. S, (EUR Swap Rate 5 Year + 4.75%), 6.25%, 06/26/3013 (aa)	EUR	119		126
Pacific Gas and Electric Co.,
3.15%, 01/01/2026		35		32
3.25%, 06/01/2031		20		16


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
3.50%, 08/01/2050		40		27
3.75%, 07/01/2028		10		9
3.95%, 12/01/2047		900		627
4.50%, 07/01/2040		100		78
4.55%, 07/01/2030		30		27
4.95%, 07/01/2050		30		24
PacifiCorp.,
2.90%, 06/15/2052		740		543
3.30%, 03/15/2051		1,400		1,102
4.15%, 02/15/2050		15		14
PECO Energy Co.,
2.80%, 06/15/2050		50		37
3.05%, 03/15/2051		435		335
4.60%, 05/15/2052		285		287
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, (Indonesia), Reg. S, 1.88%, 11/05/2031	EUR	500		393
PPL Capital Funding, Inc., 4.13%, 04/15/2030		120		116
Public Service Co. of Colorado, Series 36, 2.70%, 01/15/2051		10		7
Public Service Electric and Gas Co.,
1.90%, 08/15/2031		35		29
2.05%, 08/01/2050		10		6
2.45%, 01/15/2030		20		18
3.65%, 09/01/2028		120		117
3.85%, 05/01/2049		10		9
Public Service Enterprise Group, Inc., 0.80%, 08/15/2025		3,000		2,712
Puget Energy, Inc.,
2.38%, 06/15/2028		1,040		911
4.10%, 06/15/2030		10		9
Puget Sound Energy, Inc.,
2.89%, 09/15/2051		10		8
3.25%, 09/15/2049		20		15
Red Electrica Financiaciones SAU, (Spain), Reg. S, 1.13%, 04/24/2025	EUR	100		103
RTE Reseau de Transport d’Electricite SADIR, (France),
Reg. S, 1.13%, 09/09/2049	EUR	100		59
Reg. S, 1.50%, 09/27/2030	EUR	200		189
Reg. S, 1.63%, 11/27/2025	EUR	300		308
Reg. S, 2.00%, 04/18/2036	EUR	100		89
RWE AG, (Germany), Reg. S, 2.75%, 05/24/2030	EUR	2,425		2,415
San Diego Gas & Electric Co.,
4.15%, 05/15/2048		820		753
Series WWW, 2.95%, 08/15/2051		25		18
Scottish Hydro Electric Transmission plc, (United Kingdom), Reg. S, 2.13%, 03/24/2036	GBP	1,500		1,407


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Electric — continued
Sempra Energy,
3.40%, 02/01/2028		10		10
4.00%, 02/01/2048		10		8
Southern California Edison Co.,
2.85%, 08/01/2029		10		9
3.45%, 02/01/2052		10		7
3.65%, 02/01/2050		80		62
4.00%, 04/01/2047		20		16
4.05%, 03/15/2042		900		745
6.05%, 03/15/2039		10		10
Series 20A, 2.95%, 02/01/2051		6		4
Series B, 3.65%, 03/01/2028		25		24
Series D, 3.40%, 06/01/2023		1,400		1,393
Series E, 3.70%, 08/01/2025		10		10
Series H, 3.65%, 06/01/2051		10		8
Southern Co. (The),
Series 21-A, 0.60%, 02/26/2024		60		57
Series A, 3.70%, 04/30/2030		75		70
Southwestern Electric Power Co.,
3.25%, 11/01/2051		25		19
Series N, 1.65%, 03/15/2026		50		45
Southwestern Public Service Co.,
3.70%, 08/15/2047		1,000		833
Series 8, 3.15%, 05/01/2050		60		46
SP Transmission plc, (United Kingdom), Reg. S, 2.00%, 11/13/2031	GBP	100		105
SSE plc, (United Kingdom),
Reg. S, 1.75%, 04/16/2030	EUR	1,300		1,202
Reg. S, (EUR Swap Rate 5 Year + 2.70%), 4.00%, 01/21/2028 (x) (aa)	EUR	1,800		1,626
State Grid Overseas Investment BVI Ltd., (British Virgin Islands), Reg. S, 1.30%, 08/05/2032	EUR	500		409
Stedin Holding NV, (Netherlands),
Reg. S, 0.88%, 10/24/2025	EUR	100		99
Reg. S, 2.38%, 06/03/2030	EUR	100		98
Tampa Electric Co., 4.30%, 06/15/2048		30		27
TenneT Holding BV, (Netherlands),
Reg. S, 0.88%, 06/03/2030	EUR	120		109
Reg. S, 1.00%, 06/13/2026	EUR	200		201
Reg. S, 1.13%, 06/09/2041	EUR	100		70
Reg. S, 1.75%, 06/04/2027	EUR	300		306
Reg. S, 2.00%, 06/05/2034	EUR	2,600		2,389
Reg. S, 2.75%, 05/17/2042	EUR	100		94
Terna — Rete Elettrica Nazionale, (Italy),
Reg. S, 0.13%, 07/25/2025	EUR	1,000		984
Reg. S, 0.38%, 09/25/2030	EUR	425		352
Reg. S, 0.75%, 07/24/2032	EUR	100		82
Reg. S, 1.38%, 07/26/2027	EUR	1,125		1,107


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Electric — continued
Tucson Electric Power Co.,
1.50%, 08/01/2030		30		24
3.25%, 05/01/2051		10		7
4.00%, 06/15/2050		10		9
Union Electric Co.,
2.15%, 03/15/2032		50		42
2.63%, 03/15/2051		10		7
3.25%, 10/01/2049		40		31
Virginia Electric and Power Co.,
2.95%, 11/15/2051		25		18
3.30%, 12/01/2049		50		40
Series B, 3.80%, 09/15/2047		60		52
Vistra Operations Co. LLC, 3.55%, 07/15/2024 (e)		1,400		1,352
WEC Energy Group, Inc., 3.55%, 06/15/2025		47		46
Western Power Distribution South West plc, (United Kingdom), Reg. S, 5.88%, 03/25/2027	GBP	20		27
Wisconsin Electric Power Co., 1.70%, 06/15/2028		10		9
Wisconsin Power and Light Co., 3.00%, 07/01/2029		50		46
Wisconsin Public Service Corp.,
2.85%, 12/01/2051		20		15
3.30%, 09/01/2049		5		4
Xcel Energy, Inc.,
3.40%, 06/01/2030		20		18
3.50%, 12/01/2049		20		16
4.60%, 06/01/2032		165		164

				95,517

Gas — 0.3%
APA Infrastructure Ltd., (Australia),
Reg. S, 0.75%, 03/15/2029	EUR	2,500		2,161
Reg. S, 1.25%, 03/15/2033	EUR	1,000		782
Reg. S, 2.00%, 07/15/2030	EUR	2,300		2,067
Atmos Energy Corp.,
1.50%, 01/15/2031		1,630		1,307
2.63%, 09/15/2029		15		13
2.85%, 02/15/2052		5		4
3.38%, 09/15/2049		210		169
4.15%, 01/15/2043		10		9
CenterPoint Energy Resources Corp., 4.40%, 07/01/2032		30		30
Italgas SpA, (Italy),
Reg. S, 1.00%, 12/11/2031	EUR	1,125		922
Reg. S, 1.13%, 03/14/2024	EUR	850		882
National Fuel Gas Co.,
2.95%, 03/01/2031		135		110
5.50%, 01/15/2026		85		85
National Grid Gas plc, (United Kingdom), Reg. S, 1.38%, 02/07/2031	GBP	1,600		1,555


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Corporate Bonds — continued
Gas — continued
Nederlandse Gasunie NV, (Netherlands), Reg. S, 0.75%, 10/13/2036	EUR	100		75
NiSource, Inc.,
0.95%, 08/15/2025		3,000		2,697
3.49%, 05/15/2027		130		125
3.60%, 05/01/2030		25		23
4.38%, 05/15/2047		15		13
4.80%, 02/15/2044		10		9
5.00%, 06/15/2052		10		10
Piedmont Natural Gas Co., Inc.,
2.50%, 03/15/2031		1,550		1,310
3.35%, 06/01/2050		15		11
5.05%, 05/15/2052		570		561
Redexis Gas Finance BV, (Netherlands), Reg. S, 1.88%, 05/28/2025	EUR	1,300		1,309
Snam SpA, (Italy),
Reg. S, 0.75%, 06/20/2029	EUR	1,375		1,196
Reg. S, 0.88%, 10/25/2026	EUR	850		823
Southern California Gas Co.,
Series VV, 4.30%, 01/15/2049		20		18
Series XX, 2.55%, 02/01/2030		105		93
Southern Co. Gas Capital Corp.,
3.95%, 10/01/2046		20		16
Series 20-A, 1.75%, 01/15/2031		3,700		2,933
Series 21A, 3.15%, 09/30/2051		15		11
Southern Gas Networks plc, (United Kingdom),
Reg. S, 2.50%, 02/03/2025	GBP	425		508
6.38%, 05/15/2040	GBP	425		613
Southwest Gas Corp.,
4.05%, 03/15/2032		25		23
4.15%, 06/01/2049		10		8
Wales & West Utilities Finance plc, (United Kingdom), Reg. S, 1.88%, 05/28/2041	GBP	425		353
Washington Gas Light Co., 3.65%, 09/15/2049		10		8

				22,842

Water — 0.1%
Affinity Water Finance 2004 plc, (United Kingdom), 5.88%, 07/13/2026	GBP	30		40
American Water Capital Corp., 4.15%, 06/01/2049		60		54
Essential Utilities, Inc.,
2.70%, 04/15/2030		40		35
5.30%, 05/01/2052		10		10
Northumbrian Water Finance plc, (United Kingdom),
Reg. S, 1.63%, 10/11/2026	GBP	425		484
Reg. S, 5.63%, 04/29/2033	GBP	225		314


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Water — continued
Suez SA, (France), Reg. S, 1.50%, 04/03/2029	EUR	1,200		1,156
Thames Water Utilities Finance plc, (United Kingdom),
Reg. S, 2.38%, 04/22/2040	GBP	300		268
Reg. S, 5.50%, 02/11/2041	GBP	550		745
6.75%, 11/16/2028	GBP	180		255
United Utilities Water Finance plc, (United Kingdom), Reg. S, 2.00%, 07/03/2033	GBP	900		920
Wessex Water Services Finance plc, (United Kingdom),
Reg. S, 1.50%, 09/17/2029	GBP	700		733
Reg. S, 5.38%, 03/10/2028	GBP	225		298
Reg. S, 5.75%, 10/14/2033	GBP	375		525

				5,837

Total Utilities				124,196

Total Corporate Bonds (Cost $1,633,865)				1,353,671

Foreign Government Securities — 50.6%
Action Logement Services, (France),
Reg. S, 0.38%, 10/05/2031	EUR	200		179
Reg. S, 0.50%, 10/30/2034	EUR	100		83
Adif Alta Velocidad, (Spain),
Reg. S, 0.55%, 04/30/2030	EUR	200		184
Reg. S, 1.88%, 09/22/2022	EUR	600		631
Reg. S, 1.88%, 01/28/2025	EUR	100		106
Agence Francaise de Developpement EPIC, (France),
Reg. S, 0.00%, 03/25/2025	EUR	500		506
Reg. S, 0.13%, 11/15/2023	EUR	500		519
Reg. S, 0.25%, 07/21/2026	EUR	500		497
Reg. S, 0.25%, 06/29/2029	EUR	400		375
Reg. S, 0.38%, 04/30/2024	EUR	400		414
Reg. S, 0.38%, 05/25/2036	EUR	100		79
Reg. S, 0.50%, 05/25/2030	EUR	200		187
Reg. S, 0.50%, 05/31/2035	EUR	500		413
Reg. S, 1.38%, 09/17/2024	EUR	500		526
Reg. S, 1.50%, 10/31/2034	EUR	200		190
Reg. S, 1.63%, 05/25/2032	EUR	200		199
Agence France Locale, (France),
Reg. S, 0.00%, 09/20/2027	EUR	500		479
Reg. S, 0.13%, 06/20/2026	EUR	400		395
Reg. S, 1.13%, 06/20/2028	EUR	1,000		1,006
Agricultural Development Bank of China, (China),
2.58%, 07/26/2023	CNY	10,000		1,502
Reg. S, 3.18%, 11/06/2022	CNH	2,000		299
Reg. S, 3.40%, 11/06/2024	CNH	56,000		8,442
Reg. S, 3.80%, 10/27/2030	CNH	9,350		1,442
Series 1605, 3.33%, 01/06/2026	CNY	37,000		5,630


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 1618, 3.58%, 04/22/2026	CNY	49,000		7,521
Series 1705, 3.85%, 01/06/2027	CNY	14,000		2,173
Series 1801, 4.98%, 01/12/2025	CNY	12,000		1,897
Series 1806, 4.65%, 05/11/2028	CNY	8,100		1,315
Series 1901, 3.75%, 01/25/2029	CNY	33,000		5,132
Series 1906, 3.74%, 07/12/2029	CNY	89,000		13,840
Series 1908, 3.63%, 07/19/2026	CNY	135,300		20,813
Series 1909, 3.24%, 08/14/2024	CNY	58,000		8,799
Series 2004, 2.96%, 04/17/2030	CNY	138,000		20,410
Series 2005, 2.25%, 04/22/2025	CNY	119,700		17,692
Series 2007, 3.06%, 08/05/2023	CNY	30,000		4,525
Series 2008, 3.45%, 09/23/2025	CNY	30,000		4,582
Series 2103, 3.35%, 03/24/2026	CNY	15,000		2,284
Series 2105, 3.52%, 05/24/2031	CNY	17,000		2,616
Series 2110, 3.30%, 11/05/2031	CNY	14,000		2,116
Series 2205, 3.06%, 06/06/2032	CNY	11,700		1,736
Andorra International Bond, (Andorra), Reg. S, 1.25%, 05/06/2031	EUR	500		448
Auckland Council, (New Zealand),
Reg. S, 1.00%, 01/19/2027	EUR	300		303
Reg. S, 1.50%, 11/28/2025	CHF	300		319
Australia Government Bond, (Australia),
Series 133, Reg. S, 5.50%, 04/21/2023	AUD	4,091		2,893
Series 136, Reg. S, 4.75%, 04/21/2027	AUD	13,320		9,758
Series 138, Reg. S, 3.25%, 04/21/2029	AUD	3,925		2,665
Series 140, Reg. S, 4.50%, 04/21/2033	AUD	12,351		9,137
Series 142, Reg. S, 4.25%, 04/21/2026	AUD	5,000		3,570
Series 144, Reg. S, 3.75%, 04/21/2037	AUD	533		365
Series 145, Reg. S, 2.75%, 06/21/2035	AUD	2,854		1,764


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 147, Reg. S, 3.25%, 06/21/2039	AUD	1,949		1,247
Series 148, Reg. S, 2.75%, 11/21/2027	AUD	6,550		4,375
Series 149, Reg. S, 2.25%, 05/21/2028	AUD	1,540		996
Series 150, Reg. S, 3.00%, 03/21/2047	AUD	3,116		1,848
Series 152, Reg. S, 2.75%, 11/21/2028	AUD	418		276
Series 154, Reg. S, 2.75%, 11/21/2029	AUD	27,955		18,284
Series 155, Reg. S, 2.50%, 05/21/2030	AUD	6,115		3,906
Series 156, Reg. S, 2.75%, 05/21/2041	AUD	4,788		2,813
Series 157, Reg. S, 1.50%, 06/21/2031	AUD	6,613		3,820
Series 158, 1.25%, 05/21/2032	AUD	1,000		553
Series 160, Reg. S, 1.00%, 12/21/2030	AUD	7,850		4,387
Series 162, Reg. S, 1.75%, 06/21/2051	AUD	4,400		1,928
Series 163, Reg. S, 1.00%, 11/21/2031	AUD	6,149		3,354
Series 164, Reg. S, 0.50%, 09/21/2026	AUD	15,586		9,576
Series 165, Reg. S, 1.75%, 11/21/2032	AUD	5,600		3,223
Series 166, Reg. S, 3.00%, 11/21/2033	AUD	3,160		2,036
Series 139, Reg. S, 3.25%, 04/21/2025	AUD	10,875		7,530
Series 159, Reg. S, 0.25%, 11/21/2024	AUD	13,572		8,791
Series 161, Reg. S, 0.25%, 11/21/2025	AUD	6,270		3,917
Australian Capital Territory, (Australia),
Reg. S, 1.25%, 05/22/2025	AUD	200		130
1.75%, 10/23/2031	AUD	970		542
Autobahnen- und Schnell- strassen-Finanzierungs AG, (Austria),
Reg. S, 0.10%, 07/09/2029	EUR	500		463
Reg. S, 2.75%, 06/20/2033	EUR	130		143
Autonomous Community of Andalusia Spain, (Spain),
Reg. S, 0.50%, 04/30/2031	EUR	163		143
Reg. S, 1.38%, 04/30/2029	EUR	30		30
Autonomous Community of Madrid Spain, (Spain),
Reg. S, 0.42%, 04/30/2030	EUR	161		147
Reg. S, 1.83%, 04/30/2025	EUR	270		285
4.30%, 09/15/2026	EUR	500		578


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Basque Government, (Spain),
Reg. S, 0.25%, 04/30/2031	EUR	100		88
Reg. S, 0.85%, 04/30/2030	EUR	50		47
Reg. S, 1.75%, 03/16/2026	EUR	170		179
Bermuda Government International Bond, (Bermuda), 2.38%, 08/20/2030 (e)		670		559
BNG Bank NV, (Netherlands),
Reg. S, 0.00%, 01/20/2031	EUR	200		176
Reg. S, 0.10%, 01/15/2030	EUR	320		292
Reg. S, 0.13%, 04/11/2026	EUR	530		528
Reg. S, 0.13%, 07/09/2035	EUR	230		182
Reg. S, 0.20%, 11/09/2024	EUR	550		561
Reg. S, 0.25%, 11/22/2036	EUR	260		201
Reg. S, 0.81%, 06/28/2049	EUR	200		147
Reg. S, 0.88%, 10/17/2035	EUR	100		87
Reg. S, 1.13%, 09/04/2024	EUR	702		734
Reg. S, 1.25%, 03/30/2037	EUR	100		89
Reg. S, 1.50%, 07/15/2039	EUR	170		155
Bonos de la Tesoreria de la Republica en pesos, (Chile),
Reg. S, 4.70%, 09/01/2030 (e)	CLP	300,000		298
Bpifrance SACA, (France),
Reg. S, 0.13%, 03/25/2025	EUR	400		406
Reg. S, 0.25%, 03/29/2030	EUR	200		184
Reg. S, 0.25%, 06/04/2031	EUR	200		179
Reg. S, 0.63%, 05/25/2026	EUR	500		507
Reg. S, 0.75%, 07/22/2022	GBP	200		243
Reg. S, 0.88%, 09/26/2028	EUR	200		198
Reg. S, 1.00%, 05/25/2027	EUR	500		509
Bulgaria Government International Bond, (Bulgaria),
Reg. S, 1.38%, 09/23/2050	EUR	200		127
Reg. S, 2.95%, 09/03/2024	EUR	400		429
Series 12YR, Reg. S, 3.00%, 03/21/2028	EUR	400		409
Bundesobligation, (Germany),
Series 178, Reg. S, 0.00%, 10/13/2023	EUR	1,368		1,427
Series 179, Reg. S, 0.00%, 04/05/2024	EUR	2,838		2,946
Series 180, Reg. S, 0.00%, 10/18/2024	EUR	3,006		3,097
Series 181, Reg. S, 0.00%, 04/11/2025	EUR	2,540		2,604
Series 182, Reg. S, 0.00%, 10/10/2025	EUR	4,670		4,759
Series 183, Reg. S, 0.00%, 04/10/2026	EUR	2,416		2,447
Series 184, Reg. S, 0.00%, 10/09/2026	EUR	500		503
Series 185, Reg. S, 0.00%, 04/16/2027	EUR	1,533		1,530


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Bundesrepublik Deutschland Bundesanleihe, (Germany),
Reg. S, 0.00%, 08/15/2026	EUR	1,900		1,916
Reg. S, 0.00%, 11/15/2027	EUR	1,281		1,268
Reg. S, 0.00%, 11/15/2028	EUR	735		717
Reg. S, 0.00%, 08/15/2029	EUR	2,902		2,799
Reg. S, 0.00%, 02/15/2030	EUR	1,783		1,706
Reg. S, 0.00%, 08/15/2030	EUR	1,120		1,063
Reg. S, 0.00%, 02/15/2031	EUR	1,589		1,493
Reg. S, 0.00%, 08/15/2031	EUR	2,260		2,103
Reg. S, 0.00%, 02/15/2032	EUR	4,609		4,244
Reg. S, 0.00%, 05/15/2035	EUR	2,559		2,200
Reg. S, 0.00%, 05/15/2036	EUR	2,488		2,100
Reg. S, 0.00%, 08/15/2050	EUR	2,741		1,836
Reg. S, 0.00%, 08/15/2052	EUR	2,355		1,520
Reg. S, 0.25%, 02/15/2027	EUR	1,800		1,824
Reg. S, 0.25%, 08/15/2028	EUR	2,892		2,875
Reg. S, 0.25%, 02/15/2029	EUR	210		208
Reg. S, 0.50%, 02/15/2025	EUR	3,239		3,372
Reg. S, 0.50%, 02/15/2026	EUR	1,967		2,033
Reg. S, 0.50%, 08/15/2027	EUR	2,160		2,202
Reg. S, 0.50%, 02/15/2028	EUR	230		233
Reg. S, 1.00%, 08/15/2024	EUR	1,729		1,823
Reg. S, 1.00%, 08/15/2025	EUR	2,701		2,843
Reg. S, 1.00%, 05/15/2038	EUR	430		412
Reg. S, 1.25%, 08/15/2048	EUR	1,888		1,826
Reg. S, 1.50%, 05/15/2024	EUR	1,937		2,064
Reg. S, 2.50%, 07/04/2044	EUR	1,651		2,016
Reg. S, 2.50%, 08/15/2046	EUR	3,466		4,289
Reg. S, 3.25%, 07/04/2042	EUR	948		1,271
Reg. S, 5.50%, 01/04/2031	EUR	700		983
Reg. S, 6.25%, 01/04/2030	EUR	775		1,106
Series 3, Reg. S, 4.75%, 07/04/2034	EUR	1,771		2,528
Series 5, Reg. S, 4.00%, 01/04/2037	EUR	973		1,338
Series 8, Reg. S, 4.75%, 07/04/2040	EUR	1,594		2,479
Series 97, Reg. S, 6.50%, 07/04/2027	EUR	1,410		1,869
Series 98, Reg. S, 4.75%, 07/04/2028	EUR	1,661		2,108
Series 98, Reg. S, 5.63%, 01/04/2028	EUR	780		1,016
Series 2007, Reg. S, 4.25%, 07/04/2039		EUR 1,174		1,710
Series G, Reg. S, 0.00%, 08/15/2030	EUR	1,140		1,083
Series G, Reg. S, 0.00%, 08/15/2031	EUR	720		671
Series G, Reg. S, 0.00%, 08/15/2050	EUR	382		257


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Bundesschatzanweisungen, (Germany),
Reg. S, 0.00%, 09/15/2023	EUR	2,272		2,369
Reg. S, 0.20%, 06/14/2024	EUR	930		966
Caisse d’Amortissement de la Dette Sociale, (France),
Reg. S, 0.00%, 02/25/2028	EUR	200		190
Reg. S, 0.00%, 11/25/2030	EUR	300		266
Reg. S, 0.00%, 05/25/2031	EUR	100		88
Reg. S, 0.13%, 10/25/2023	EUR	1,800		1,872
Reg. S, 0.13%, 09/15/2031	EUR	300		263
Reg. S, 0.45%, 01/19/2032	EUR	400		360
Reg. S, 0.60%, 11/25/2029	EUR	100		95
Reg. S, 1.50%, 05/25/2032	EUR	400		395
Reg. S, 4.00%, 12/15/2025	EUR	1,383		1,574
Caisse Francaise de Financement Local, (France),
Reg. S, 0.01%, 05/07/2025	EUR	200		201
Reg. S, 0.01%, 10/19/2035	EUR	100		75
Reg. S, 0.13%, 06/30/2031	EUR	100		87
Reg. S, 0.50%, 01/16/2025	EUR	100		102
Reg. S, 0.50%, 01/19/2026	EUR	100		101
Reg. S, 0.50%, 10/01/2046	EUR	100		67
Reg. S, 1.00%, 04/25/2028	EUR	100		99
Reg. S, 1.25%, 05/11/2032	EUR	100		95
Reg. S, 1.50%, 06/28/2038	EUR	100		90
Canada Housing Trust No. 1, (Canada), 0.95%, 06/15/2025 (e)	CAD	1,000		725
Canadian Government Bond, (Canada),
1.00%, 06/01/2027	CAD	200		141
1.50%, 06/01/2031	CAD	600		404
2.00%, 09/01/2023	CAD	1,900		1,458
2.00%, 06/01/2032	CAD	600		418
2.00%, 12/01/2051	CAD	530		320
3.50%, 12/01/2045	CAD	2,090		1,700
4.00%, 06/01/2041	CAD	150		129
Canton of Geneva Switzerland, (Switzerland), Reg. S, 0.02%, 11/27/2024	CHF	240		246
Canton of Zurich, (Switzerland), Reg. S, 0.10%, 06/23/2045	CHF	50		35
Cassa Depositi e Prestiti SpA, (Italy),
Reg. S, 0.75%, 11/21/2022	EUR	600		630
Reg. S, 1.00%, 09/21/2028	EUR	100		94
Reg. S, 2.00%, 04/20/2027	EUR	100		102
Reg. S, 2.13%, 09/27/2023	EUR	200		212
CDP Financial, Inc., (Canada),
5.60%, 11/25/2039 (e)		250		291
Reg. S, 5.60%, 11/25/2039		250		291
Chile Government International Bond, (Chile),
0.83%, 07/02/2031	EUR	550		450
1.25%, 01/22/2051	EUR	200		115
1.30%, 07/26/2036	EUR	500		372
2.55%, 01/27/2032		200		170


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


China Development Bank, (China),
Reg. S, 3.23%, 11/27/2025	CNH	10,000		1,500
Reg. S, 4.20%, 01/19/2027	CNH	10,000		1,554
Reg. S, 4.30%, 08/02/2032	CNH	3,000		480
Reg. S, 4.35%, 08/06/2024	CNH	7,000		1,078
Reg. S, 4.35%, 09/19/2024	CNH	1,000		154
Reg. S, 4.50%, 11/13/2028	CNH	2,500		399
Series 1510, 4.21%, 04/13/2025	CNY	30,000		4,668
Series 1518, 3.74%, 09/10/2025	CNY	28,000		4,313
Series 1605, 3.80%, 01/25/2036	CNY	32,000		5,045
Series 1610, 3.18%, 04/05/2026	CNY	30,000		4,542
Series 1613, 3.05%, 08/25/2026	CNY	20,000		3,010
Series 1710, 4.04%, 04/10/2027	CNY	80,000		12,549
Series 1805, 4.88%, 02/09/2028	CNY	28,400		4,650
Series 1806, 4.73%, 04/02/2025	CNY	20,230		3,191
Series 1810, 4.04%, 07/06/2028	CNY	17,000		2,683
Series 1904, 3.68%, 02/26/2026	CNY	88,000		13,550
Series 1905, 3.48%, 01/08/2029	CNY	226,500		34,674
Series 1908, 3.42%, 07/02/2024	CNY	86,000		13,089
Series 1909, 3.50%, 08/13/2026	CNY	117,100		17,914
Series 1910, 3.65%, 05/21/2029	CNY	185,400		28,699
Series 1915, 3.45%, 09/20/2029	CNY	114,000		17,443
Series 2003, 3.23%, 01/10/2025	CNY	217,300		32,977
Series 2005, 3.07%, 03/10/2030	CNY	42,700		6,364
Series 2008, 2.89%, 06/22/2025	CNY	15,000		2,256
Series 2010, 3.09%, 06/18/2030	CNY	20,000		2,977
Series 2015, 3.70%, 10/20/2030	CNY	24,400		3,797
Series 2105, 3.66%, 03/01/2031	CNY	47,000		7,305
Series 2110, 3.41%, 06/07/2031	CNY	50,000		7,636
Series 2115, 3.12%, 09/13/2031	CNY	22,500		3,361


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
China Government Bond, (China),
1.99%, 04/09/2025	CNY	462,700		68,237
2.28%, 03/17/2024	CNY	52,000		7,771
2.36%, 07/02/2023	CNY	223,600		33,513
2.47%, 09/02/2024	CNY	20,000		2,997
2.68%, 05/21/2030	CNY	562,700		82,716
2.69%, 08/12/2026	CNY	52,500		7,866
2.85%, 06/04/2027	CNY	415,000		62,523
2.91%, 10/14/2028	CNY	71,000		10,653
3.02%, 05/27/2031	CNY	55,700		8,406
3.03%, 03/11/2026	CNY	112,000		16,992
Reg. S, 3.16%, 06/27/2023	CNH	500		75
Reg. S, 3.30%, 07/04/2023	CNH	2,000		301
Reg. S, 3.31%, 11/30/2025	CNH	2,000		305
Reg. S, 3.38%, 11/21/2024	CNH	3,000		456
Reg. S, 3.38%, 07/04/2026	CNH	24,000		3,671
3.39%, 03/16/2050	CNY	242,900		36,277
Reg. S, 3.60%, 06/27/2028	CNH	24,500		3,780
Reg. S, 3.60%, 05/21/2030	CNH	7,000		1,082
3.72%, 04/12/2051	CNY	35,000		5,572
3.73%, 05/25/2070	CNY	20,670		3,314
3.76%, 03/22/2071	CNY	83,230		13,446
3.81%, 09/14/2050	CNY	140,400		22,636
Reg. S, 3.85%, 12/12/2026	CNH	19,000		2,951
Reg. S, 3.90%, 07/04/2036	CNH	13,500		2,147
Reg. S, 4.00%, 05/22/2024	CNH	8,500		1,303
Reg. S, 4.00%, 11/30/2035	CNH	27,500		4,428
Reg. S, 4.15%, 12/04/2027	CNH	20,000		3,175
Reg. S, 4.15%, 12/12/2031	CNH	3,000		483
Reg. S, 4.29%, 05/22/2029	CNH	3,000		484
Reg. S, 4.40%, 12/12/2046	CNH	25,000		4,122
Series 1617, 2.74%, 08/04/2026	CNY	67,000		10,068
Series 1824, 4.08%, 10/22/2048	CNY	7,500		1,258
Series 1908, 4.00%, 06/24/2069	CNY	5,000		849
Series 1910, 3.86%, 07/22/2049	CNY	32,500		5,264
Series 1915, 3.13%, 11/21/2029	CNY	22,300		3,387
China Government International Bond, (China),
Reg. S, 0.13%, 11/12/2026	EUR	200		189
Reg. S, 0.50%, 11/12/2031	EUR	650		534
City of Milan Italy, (Italy), 4.02%, 06/29/2035	EUR	40		42
City of Montreal Canada, (Canada), 2.30%, 09/01/2029	CAD	600		418
City of Quebec Canada, (Canada),
2.10%, 07/06/2031	CAD	300		196
2.65%, 12/20/2027	CAD	565		411
City of Toronto Canada, (Canada),
2.95%, 04/28/2035	CAD	200		134
3.50%, 06/02/2036	CAD	300		211


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Communaute Francaise de Belgique, (Belgium), Reg. S, 1.63%, 05/03/2032	EUR	200		197
Corp. de Reservas Estrategicas de Productos Petroliferos Cores, (Spain), Reg. S, 1.50%, 11/27/2022	EUR	600		632
CPPIB Capital, Inc., (Canada),
Reg. S, 0.25%, 04/06/2027	EUR	1,450		1,412
Reg. S, 0.38%, 06/20/2024	EUR	300		308
Reg. S, 0.75%, 07/15/2049	EUR	300		208
Croatia Government International Bond, (Croatia),
Reg. S, 1.13%, 06/19/2029	EUR	500		452
Reg. S, 1.13%, 03/04/2033	EUR	500		410
Cyprus Government International Bond, (Cyprus),
Reg. S, 0.63%, 12/03/2024	EUR	347		352
Reg. S, 0.63%, 01/21/2030	EUR	235		201
Reg. S, 1.25%, 01/21/2040	EUR	720		516
Reg. S, 2.25%, 04/16/2050	EUR	10		8
Czech Republic Government Bond, (Czech Republic),
Series 49, Reg. S, 4.20%, 12/04/2036	CZK	5,390		212
Series 53, Reg. S, 4.85%, 11/26/2057	CZK	2,340		92
Series 58, Reg. S, 5.70%, 05/25/2024	CZK	140		6
Series 78, Reg. S, 2.50%, 08/25/2028	CZK	16,760		609
Series 89, Reg. S, 2.40%, 09/17/2025	CZK	16,910		646
Series 95, Reg. S, 1.00%, 06/26/2026	CZK	6,860		243
Series 97, Reg. S, 0.45%, 10/25/2023	CZK	12,000		469
Series 100, 0.25%, 02/10/2027	CZK	26,000		869
Series 103, 2.00%, 10/13/2033	CZK	2,260		72
Series 105, 2.75%, 07/23/2029	CZK	11,450		418
Series 121, 1.20%, 03/13/2031	CZK	27,250		849
Series 125, 1.50%, 04/24/2040	CZK	3,380		85
Series 130, 0.05%, 11/29/2029	CZK	4,980		145
Series 138, 1.75%, 06/23/2032	CZK	3,170		101
Series 142, 1.95%, 07/30/2037	CZK	3,710		108
Denmark Government Bond, (Denmark),
1.50%, 11/15/2023	DKK	3,720		531
1.75%, 11/15/2025	DKK	1,380		198
4.50%, 11/15/2039	DKK	6,730		1,295
7.00%, 11/10/2024	DKK	1,470		236
Series 10Y, 0.00%, 11/15/2031	DKK	6,147		737
Series 10Y, 0.50%, 11/15/2027	DKK	3,788		508


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 10YR, 0.50%, 11/15/2029	DKK	8,494		1,104
Series 30Y, 0.25%, 11/15/2052	DKK	3,801		324
Development Bank of Japan, Inc., (Japan),
Reg. S, 0.88%, 10/10/2025	EUR	1,000		1,018
Reg. S, 1.13%, 04/28/2023	GBP	600		724
4.75%, 11/26/2027	EUR	900		1,076
Series 86, 0.24%, 10/13/2027	JPY	100,000		739
Estonia Government International Bond, (Estonia), Reg. S, 0.13%, 06/10/2030	EUR	200		172
European Union, (Supranational), Reg. S, 3.38%, 04/04/2032	EUR	600		700
Export-Import Bank of China (The), (China),
Series 1514, 3.87%, 09/14/2025	CNY	31,000		4,788
Series 1603, 3.33%, 02/22/2026	CNY	10,100		1,536
Series 1610, 3.18%, 09/05/2026	CNY	10,000		1,512
Series 1703, 4.11%, 03/20/2027	CNY	22,000		3,461
Series 1905, 3.28%, 02/11/2024	CNY	102,000		15,443
Series 1910, 3.86%, 05/20/2029	CNY	106,500		16,679
Series 2005, 2.93%, 03/02/2025	CNY	82,600		12,437
Series 2007, 3.26%, 02/24/2027	CNY	52,400		7,953
Series 2010, 3.23%, 03/23/2030	CNY	67,500		10,152
Series 2011, 3.74%, 11/16/2030	CNY	10,000		1,561
Series 2105, 3.22%, 05/14/2026	CNY	20,500		3,107
Series 2113, 2.76%, 11/05/2024	CNY	20,000		3,001
Series 2210, 3.18%, 03/11/2032	CNY	27,900		4,181
Export-Import Bank of Korea, (South Korea),
Reg. S, 2.60%, 11/08/2023	AUD	1,100		745
Reg. S, 8.00%, 05/15/2024	IDR	400,000		28
Finland Government Bond, (Finland),
Reg. S, 0.00%, 09/15/2023 (e)	EUR	754		786
Reg. S, 0.00%, 09/15/2030 (e)	EUR	460		418
Reg. S, 0.13%, 09/15/2031 (e)	EUR	385		346
Reg. S, 0.13%, 04/15/2036 (e)	EUR	280		225
Reg. S, 0.13%, 04/15/2052 (e)	EUR	340		199


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 0.25%, 09/15/2040 (e)	EUR	384		285
Reg. S, 0.50%, 04/15/2026 (e)	EUR	820		837
Reg. S, 0.50%, 09/15/2027 (e)	EUR	280		281
Reg. S, 0.50%, 09/15/2029 (e)	EUR	290		281
Reg. S, 0.75%, 04/15/2031 (e)	EUR	321		309
Reg. S, 0.88%, 09/15/2025 (e)	EUR	430		448
Reg. S, 1.13%, 04/15/2034 (e)	EUR	421		400
Reg. S, 2.00%, 04/15/2024 (e)	EUR	447		480
Reg. S, 2.63%, 07/04/2042 (e)	EUR	275		305
Reg. S, 2.75%, 07/04/2028 (e)	EUR	440		496
Reg. S, 4.00%, 07/04/2025 (e)	EUR	270		309
Series 30Y, Reg. S, 1.38%, 04/15/2047 (e)	EUR	357		318
Finnvera OYJ, (Finland), Reg. S, 0.38%, 04/09/2029	EUR	300		283
Fondo De Titulizacion Del Deficit Del Sistema Electrico FTA, (Spain),
Reg. S, 0.01%, 09/17/2025	EUR	100		100
Reg. S, 0.85%, 12/17/2023	EUR	1,100		1,150
Free and Hanseatic City of Hamburg, (Germany),
Reg. S, 0.00%, 04/07/2026	EUR	280		277
Reg. S, 0.01%, 06/30/2028	EUR	180		170
0.01%, 11/05/2035	EUR	70		54
Reg. S, 0.20%, 09/03/2049	EUR	70		42
Reg. S, 0.25%, 02/18/2041	EUR	94		67
Free State of Bavaria, (Germany), Reg. S, 0.01%, 01/18/2035	EUR	352		277
Free State of Saxony, (Germany), Reg. S, 0.01%, 11/05/2029	EUR	197		180
French Republic Government Bond OAT, (France),
Reg. S, 0.00%, 11/25/2029	EUR	2,745		2,550
Reg. S, 0.50%, 06/25/2044 (e)	EUR	1,112		790
Reg. S, 0.75%, 11/25/2028	EUR	2,215		2,211
Reg. S, 1.00%, 11/25/2025	EUR	1,560		1,627
Reg. S, 0.00%, 02/25/2024	EUR	2,793		2,899
Reg. S, 0.00%, 03/25/2024	EUR	2,700		2,799
Reg. S, 0.00%, 02/25/2025	EUR	2,460		2,508
Reg. S, 0.00%, 03/25/2025	EUR	3,340		3,403
Reg. S, 0.00%, 02/25/2026	EUR	844		847
Reg. S, 0.00%, 02/25/2027	EUR	1,805		1,779
Reg. S, 0.00%, 11/25/2030	EUR	2,647		2,393
Reg. S, 0.00%, 11/25/2031	EUR	2,844		2,504
Reg. S, 0.00%, 05/25/2032	EUR	2,350		2,036
Reg. S, 0.25%, 11/25/2026	EUR	3,576		3,580
Reg. S, 0.50%, 05/25/2025	EUR	4,303		4,437
Reg. S, 0.50%, 05/25/2026	EUR	1,209		1,232
Reg. S, 0.50%, 05/25/2029	EUR	2,497		2,436
Reg. S, 0.50%, 05/25/2040 (e)	EUR	4,569		3,498
Reg. S, 0.50%, 05/25/2072 (e)	EUR	783		359
Reg. S, 0.75%, 05/25/2028	EUR	3,803		3,824
Reg. S, 0.75%, 05/25/2052 (e)	EUR	3,627		2,420
Reg. S, 0.75%, 05/25/2053 (e)	EUR	933		608


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 1.00%, 05/25/2027	EUR	3,898		4,018
Reg. S, 1.25%, 05/25/2034	EUR	2,842		2,710
Reg. S, 1.25%, 05/25/2036 (e)	EUR	1,784		1,656
Reg. S, 1.25%, 05/25/2038	EUR	1,390		1,258
Reg. S, 1.50%, 05/25/2031	EUR	3,873		3,969
Reg. S, 1.50%, 05/25/2050 (e)	EUR	2,031		1,721
Reg. S, 1.75%, 11/25/2024	EUR	2,526		2,699
Reg. S, 1.75%, 06/25/2039 (e)	EUR	1,597		1,559
Reg. S, 1.75%, 05/25/2066 (e)	EUR	786		653
Reg. S, 2.00%, 05/25/2048 (e)	EUR	2,387		2,291
Reg. S, 2.25%, 05/25/2024	EUR	883		951
Reg. S, 2.50%, 05/25/2030	EUR	6,291		7,014
Reg. S, 2.75%, 10/25/2027	EUR	4,399		4,930
Reg. S, 3.25%, 05/25/2045	EUR	2,015		2,420
Reg. S, 3.50%, 04/25/2026	EUR	36		41
Reg. S, 4.00%, 10/25/2038	EUR	1,008		1,306
Reg. S, 4.00%, 04/25/2055 (e)	EUR	1,031		1,422
Reg. S, 4.00%, 04/25/2060	EUR	1,088		1,523
Reg. S, 4.25%, 10/25/2023	EUR	1,910		2,101
Reg. S, 4.50%, 04/25/2041	EUR	2,502		3,449
Reg. S, 4.75%, 04/25/2035	EUR	1,867		2,527
Reg. S, 5.50%, 04/25/2029	EUR	2,037		2,677
Reg. S, 5.75%, 10/25/2032	EUR	1,159		1,645
Reg. S, 6.00%, 10/25/2025	EUR	2,740		3,328
Gemeinsame Deutsche Bundeslaender, (Germany),
Series 46, Reg. S, 1.13%, 09/30/2024	EUR	720		753
Series 58, Reg. S, 0.00%, 02/19/2027	EUR	220		214
Series 60, Reg. S, 0.01%, 02/04/2031	EUR	146		129
Gestion Securite de Stocks Securite SA, (France), Reg. S, 4.00%, 01/24/2024	EUR	100		110
Hong Kong Government Bond Programme, (Hong Kong),
1.68%, 01/21/2026	HKD	11,350		1,398
1.89%, 03/02/2032	HKD	2,100		243
1.97%, 01/17/2029	HKD	1,300		158
Hong Kong Government International Bond, (Hong Kong),
Reg. S, 2.80%, 11/30/2024	CNH	5,000		741
Reg. S, 3.00%, 11/30/2026	CNH	10,000		1,484
Housing & Development Board, (Singapore),
Reg. S, 1.76%, 02/24/2027	SGD	250		169
1.87%, 07/21/2033	SGD	1,000		616
Reg. S, 1.97%, 01/25/2029	SGD	1,000		666
Reg. S, 2.25%, 11/21/2024	SGD	750		530
Reg. S, 2.32%, 01/24/2028	SGD	250		172
Reg. S, 2.60%, 10/30/2029	SGD	1,500		1,033
Hungary Government Bond, (Hungary),
Series 24/C, 2.50%, 10/24/2024	HUF	281,740		656


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 26/E, 1.50%, 04/22/2026	HUF	100,410		207
Series 26/D, 2.75%, 12/22/2026	HUF	80,210		168
Series 27/A, 3.00%, 10/27/2027	HUF	194,780		400
Series 28/A, 6.75%, 10/22/2028	HUF	75,000		184
Series 30/A, 3.00%, 08/21/2030	HUF	297,350		554
Series 33/A, 2.25%, 04/20/2033	HUF	57,020		90
Series 34/A, 2.25%, 06/22/2034	HUF	100,520		151
Series 41/A, 3.00%, 04/25/2041	HUF	27,170		38
Hungary Government International Bond, (Hungary),
Reg. S, 0.50%, 11/18/2030	EUR	500		378
Reg. S, 1.63%, 04/28/2032	EUR	500		400
Reg. S, 1.75%, 10/10/2027	EUR	425		402
Hydro-Quebec, (Canada),
6.00%, 02/15/2040	CAD	300		284
SUB, 8.40%, 03/28/2025		600		674
SUB, 8.91%, 11/18/2024		800		898
Series HK, 9.38%, 04/15/2030		500		688
Ile-de-France Mobilites, (France),
Reg. S, 0.40%, 05/28/2031	EUR	300		272
Reg. S, 1.00%, 05/25/2034	EUR	300		268
Reg. S, 1.28%, 02/14/2042	EUR	100		82
Indonesia Government International Bond, (Indonesia),
0.90%, 02/14/2027	EUR	1,600		1,476
1.85%, 03/12/2031		234		190
Reg. S, 2.15%, 07/18/2024	EUR	550		571
Reg. S, 3.75%, 06/14/2028	EUR	500		513
Indonesia Treasury Bond, (Indonesia),
Series FR56, 8.38%, 09/15/2026	IDR	13,567,000		983
Series FR59, 7.00%, 05/15/2027	IDR	15,000,000		1,032
Series FR63, 5.63%, 05/15/2023	IDR	55,000,000		3,738
Series FR64, 6.13%, 05/15/2028	IDR	65,993,000		4,328
Series FR67, 8.75%, 02/15/2044	IDR	7,300,000		552
Series FR74, 7.50%, 08/15/2032	IDR	71,870,000		4,848


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series FR75, 7.50%, 05/15/2038	IDR	110,122,000		7,325
Series FR76, 7.38%, 05/15/2048	IDR	33,695,000		2,226
Series FR77, 8.13%, 05/15/2024	IDR	33,300,000		2,353
Series FR80, 7.50%, 06/15/2035	IDR	25,000,000		1,687
Series FR81, 6.50%, 06/15/2025	IDR	119,400,000		8,219
Series FR82, 7.00%, 09/15/2030	IDR	83,820,000		5,576
Series FR83, 7.50%, 04/15/2040	IDR	39,000,000		2,615
Series FR85, 7.75%, 04/15/2031	IDR	71,000,000		4,879
Series FR87, 6.50%, 02/15/2031	IDR	34,800,000		2,229
Series FR90, 5.13%, 04/15/2027	IDR	47,508,000		3,053
Series FR91, 6.38%, 04/15/2032	IDR	26,330,000		1,659
Series FR92, 7.13%, 06/15/2042	IDR	21,399,000		1,416
Industrial Bank of Korea, (South Korea), Reg. S, 0.02%, 07/16/2025	CHF	300		301
Infraestruturas de Portugal SA, (Portugal), Reg. S, 4.68%, 10/16/2024	EUR	150		169
Instituto de Credito Oficial, (Spain), Reg. S, 0.25%, 04/30/2024	EUR	50		52
International Bank for Reconstruction & Development, (Supranational),
0.00%, 01/15/2027	EUR	2,125		2,070
Zero Coupon, 10/31/2030		1,000		739
0.10%, 09/17/2035	EUR	775		605
Reg. S, 0.20%, 01/21/2061	EUR	500		245
0.25%, 09/23/2027	GBP	900		978
0.38%, 07/28/2025		50		46
0.50%, 07/24/2023	GBP	1,450		1,734
0.50%, 06/21/2035	EUR	50		42
0.65%, 02/10/2026		750		676
0.88%, 12/13/2024	GBP	50		59
1.63%, 01/15/2025		475		459
2.50%, 03/19/2024		465		461
3.00%, 09/27/2023		200		200
Investitionsbank Schleswig-Holstein, (Germany), Reg. S, 0.01%, 05/15/2026	EUR	100		98


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Ireland Government Bond, (Ireland),
Reg. S, 0.20%, 10/18/2030	EUR	881		809
Reg. S, 0.40%, 05/15/2035	EUR	691		579
Reg. S, 0.00%, 10/18/2031	EUR	1,127		987
Reg. S, 0.20%, 05/15/2027	EUR	880		872
Reg. S, 0.35%, 10/18/2032	EUR	440		390
Reg. S, 0.55%, 04/22/2041	EUR	295		224
Reg. S, 0.90%, 05/15/2028	EUR	862		872
Reg. S, 1.10%, 05/15/2029	EUR	517		524
Reg. S, 1.30%, 05/15/2033	EUR	330		320
Reg. S, 1.35%, 03/18/2031	EUR	365		369
Reg. S, 1.50%, 05/15/2050	EUR	523		436
Reg. S, 1.70%, 05/15/2037	EUR	290		283
Reg. S, 2.00%, 02/18/2045	EUR	455		442
Reg. S, 2.40%, 05/15/2030	EUR	590		652
Reg. S, 3.40%, 03/18/2024	EUR	490		537
5.40%, 03/13/2025	EUR	790		924
Israel Government AID Bond, (Israel),
5.50%, 09/18/2033		900		1,069
Series 2, Zero Coupon, 11/01/2024		24		22
Israel Government Bond — Fixed, (Israel),
Series 142, 5.50%, 01/31/2042	ILS	290		113
Series 327, 2.00%, 03/31/2027	ILS	800		226
Series 330, 1.00%, 03/31/2030	ILS	1,200		306
Series 537, 1.50%, 05/31/2037	ILS	305		71
Israel Government International Bond, (Israel),
Reg. S, 2.50%, 01/16/2049	EUR	425		387
2.75%, 07/03/2030		200		186
Italy Buoni Poliennali Del Tesoro, (Italy),
Reg. S, 0.85%, 01/15/2027	EUR	1,460		1,433
Reg. S, 0.85%, 01/15/2027 (e)	EUR	4,975		4,884
Reg. S, 0.95%, 06/01/2032	EUR	1,885		1,591
Reg. S, 1.75%, 07/01/2024	EUR	2,380		2,510
Reg. S, 1.80%, 03/01/2041 (e)	EUR	1,484		1,187
Reg. S, 2.15%, 03/01/2072 (e)	EUR	317		221
Reg. S, 0.00%, 01/15/2024	EUR	1,045		1,075
Reg. S, 0.00%, 01/30/2024	EUR	1,430		1,470
Reg. S, 0.00%, 04/15/2024	EUR	1,278		1,308
Reg. S, 0.00%, 12/15/2024	EUR	1,000		1,005
Reg. S, 0.00%, 04/01/2026	EUR	2,810		2,714
Reg. S, 0.00%, 08/01/2026	EUR	1,267		1,213
Reg. S, 0.25%, 03/15/2028	EUR	500		458
Reg. S, 0.30%, 08/15/2023	EUR	1,640		1,709
Reg. S, 0.35%, 02/01/2025	EUR	380		385
Reg. S, 0.50%, 02/01/2026	EUR	750		743
Reg. S, 0.50%, 07/15/2028	EUR	1,694		1,561
Reg. S, 0.60%, 08/01/2031 (e)	EUR	1,934		1,615
Reg. S, 0.65%, 10/15/2023	EUR	1,000		1,044
Reg. S, 0.90%, 04/01/2031	EUR	1,957		1,700
Reg. S, 0.95%, 09/15/2027	EUR	880		853


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 0.95%, 08/01/2030	EUR	1,510		1,344
Reg. S, 0.95%, 12/01/2031 (e)	EUR	995		852
Reg. S, 0.95%, 03/01/2037 (e)	EUR	1,054		790
Reg. S, 1.10%, 04/01/2027	EUR	800		789
Reg. S, 1.25%, 12/01/2026	EUR	997		1,001
Reg. S, 1.35%, 04/01/2030	EUR	1,390		1,294
Reg. S, 1.45%, 11/15/2024	EUR	1,900		1,984
Reg. S, 1.45%, 05/15/2025	EUR	1,013		1,049
Reg. S, 1.45%, 03/01/2036 (e)	EUR	1,079		888
Reg. S, 1.50%, 06/01/2025	EUR	1,620		1,681
Reg. S, 1.50%, 04/30/2045 (e)	EUR	801		578
Reg. S, 1.65%, 12/01/2030 (e)	EUR	2,253		2,109
Reg. S, 1.65%, 03/01/2032 (e)	EUR	676		618
Reg. S, 1.70%, 09/01/2051 (e)	EUR	1,377		965
Reg. S, 1.85%, 05/15/2024	EUR	1,340		1,416
Reg. S, 1.85%, 07/01/2025 (e)	EUR	1,200		1,254
Reg. S, 2.00%, 12/01/2025	EUR	760		797
Reg. S, 2.00%, 02/01/2028	EUR	342		348
Reg. S, 2.05%, 08/01/2027	EUR	2,080		2,137
Reg. S, 2.10%, 07/15/2026	EUR	1,844		1,925
Reg. S, 2.15%, 09/01/2052 (e)	EUR	651		496
Reg. S, 2.20%, 06/01/2027	EUR	1,977		2,051
Reg. S, 2.25%, 09/01/2036 (e)	EUR	1,014		920
Reg. S, 2.45%, 09/01/2033 (e)	EUR	1,611		1,548
Reg. S, 2.50%, 12/01/2024	EUR	994		1,062
Reg. S, 2.50%, 11/15/2025	EUR	1,185		1,263
Reg. S, 2.50%, 12/01/2032	EUR	600		581
Reg. S, 2.70%, 03/01/2047 (e)	EUR	1,030		929
Reg. S, 2.80%, 12/01/2028	EUR	1,208		1,273
Reg. S, 2.80%, 03/01/2067 (e)	EUR	605		506
Reg. S, 2.95%, 09/01/2038 (e)	EUR	852		835
Reg. S, 3.00%, 08/01/2029	EUR	2,466		2,607
Reg. S, 3.10%, 03/01/2040 (e)	EUR	1,322		1,309
Reg. S, 3.25%, 03/01/2038 (e)	EUR	650		658
Reg. S, 3.25%, 09/01/2046 (e)	EUR	1,090		1,089
Reg. S, 3.35%, 03/01/2035 (e)	EUR	2,660		2,766
Reg. S, 3.45%, 03/01/2048 (e)	EUR	1,255		1,287
Reg. S, 3.50%, 03/01/2030 (e)	EUR	1,126		1,230
Reg. S, 3.75%, 09/01/2024	EUR	1,230		1,351
Reg. S, 3.85%, 09/01/2049 (e)	EUR	930		1,013
Reg. S, 4.00%, 02/01/2037 (e)	EUR	1,310		1,459
Reg. S, 4.50%, 03/01/2024	EUR	59		65
Reg. S, 4.50%, 03/01/2026 (e)	EUR	3		3
Reg. S, 4.75%, 08/01/2023 (e)	EUR	1,000		1,092
Reg. S, 4.75%, 09/01/2028 (e)	EUR	1,270		1,483
Reg. S, 4.75%, 09/01/2044 (e)	EUR	2,105		2,598
Reg. S, 5.00%, 03/01/2025 (e)	EUR	890		1,013
Reg. S, 5.00%, 08/01/2034 (e)	EUR	966		1,173
Reg. S, 5.00%, 08/01/2039 (e)	EUR	1,341		1,674
Reg. S, 5.00%, 09/01/2040 (e)	EUR	960		1,203
Reg. S, 5.25%, 11/01/2029	EUR	1,777		2,162
Reg. S, 5.75%, 02/01/2033	EUR	1,100		1,400
Reg. S, 6.00%, 05/01/2031	EUR	1,753		2,247
Reg. S, 6.50%, 11/01/2027	EUR	890		1,123


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 7.25%, 11/01/2026	EUR	2,200		2,791
Reg. S, 9.00%, 11/01/2023	EUR	1,440		1,667
Series 5Y, Reg. S, 2.45%, 10/01/2023	EUR	2,143		2,287
Series CAC, Reg. S, 2.45%, 09/01/2050 (e)	EUR	862		720
Japan Bank for International Cooperation, (Japan), 2.38%, 07/21/2022		200		200
Japan Expressway Holding and Debt Repayment Agency, (Japan),
Series 37, 2.42%, 06/20/2028	JPY	100,000		832
Series 75, 1.96%, 09/19/2031	JPY	100,000		841
Series 271, 0.02%, 03/31/2026	JPY	200,000		1,473
Series 347, 0.73%, 04/30/2048	JPY	200,000		1,330
Japan Finance Corp., (Japan),
Series 57, 0.00%, 10/17/2025	JPY	400,000		2,945
Series 62, 0.00%, 07/31/2024	JPY	1,870,000		13,784
Japan Finance Organization for Municipalities, (Japan),
Reg. S, 0.05%, 02/12/2027	EUR	500		482
Series 4, 0.31%, 07/28/2023	JPY	1,000,000		7,396
Series 39, 0.82%, 08/26/2022	JPY	10,000		74
Series 55, 0.78%, 12/28/2023	JPY	100,000		745
Series 69, 0.48%, 02/28/2025	JPY	100,000		745
Series 72, 0.51%, 05/23/2025	JPY	1,016,000		7,595
Series 2022, 2.32%, 06/18/2027	JPY	1,400,000		11,433
Japan Government Five Year Bond, (Japan),
Series 141, 0.10%, 09/20/2024	JPY	323,300		2,392
Series 142, 0.10%, 12/20/2024	JPY	798,450		5,908
Series 143, 0.10%, 03/20/2025	JPY	1,344,200		9,950
Series 144, 0.10%, 06/20/2025	JPY	5,075,850		37,571
Series 148, 0.01%, 06/20/2026	JPY	409,750		3,023
Series 150, 0.01%, 12/20/2026	JPY	1,874,550		13,819
Series 151, 0.01%, 03/20/2027	JPY	1,554,850		11,457


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Japan Government Forty Year Bond, (Japan),
Series 1, 2.40%, 03/20/2048	JPY	100,000		948
Series 3, 2.20%, 03/20/2050	JPY	2,126,550		19,530
Series 4, 2.20%, 03/20/2051	JPY	540,200		4,950
Series 5, 2.00%, 03/20/2052	JPY	362,900		3,204
Series 6, 1.90%, 03/20/2053	JPY	246,950		2,137
Series 7, 1.70%, 03/20/2054	JPY	511,700		4,239
Series 8, 1.40%, 03/20/2055	JPY	484,800		3,739
Series 9, 0.40%, 03/20/2056	JPY	595,900		3,381
Series 10, 0.90%, 03/20/2057	JPY	400,450		2,671
Series 11, 0.80%, 03/20/2058	JPY	973,000		6,265
Series 12, 0.50%, 03/20/2059	JPY	867,100		4,996
Series 13, 0.50%, 03/20/2060	JPY	785,500		4,504
Series 14, 0.70%, 03/20/2061	JPY	876,500		5,379
Series 15, 1.00%, 03/20/2062	JPY	200,000		1,343
Japan Government Ten Year Bond, (Japan),
Series 330, 0.80%, 09/20/2023	JPY	5,101,700		38,010
Series 333, 0.60%, 03/20/2024	JPY	374,600		2,793
Series 334, 0.60%, 06/20/2024	JPY	3,632,950		27,126
Series 336, 0.50%, 12/20/2024	JPY	523,900		3,915
Series 341, 0.30%, 12/20/2025	JPY	1,248,950		9,310
Series 342, 0.10%, 03/20/2026	JPY	288,000		2,132
Series 343, 0.10%, 06/20/2026	JPY	3,348,200		24,789
Series 344, 0.10%, 09/20/2026	JPY	2,222,800		16,457
Series 345, 0.10%, 12/20/2026	JPY	5,827,200		43,134
Series 346, 0.10%, 03/20/2027	JPY	1,000,000		7,400
Series 347, 0.10%, 06/20/2027	JPY	4,476,850		33,108
Series 348, 0.10%, 09/20/2027	JPY	3,407,900		25,181
Series 349, 0.10%, 12/20/2027	JPY	2,115,800		15,615
Series 350, 0.10%, 03/20/2028	JPY	1,729,600		12,755
Series 351, 0.10%, 06/20/2028	JPY	1,529,200		11,263


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 352, 0.10%, 09/20/2028	JPY	1,452,200		10,688
Series 353, 0.10%, 12/20/2028	JPY	1,683,600		12,380
Series 354, 0.10%, 03/20/2029	JPY	1,582,450		11,628
Series 355, 0.10%, 06/20/2029	JPY	2,878,700		21,128
Series 356, 0.10%, 09/20/2029	JPY	2,192,650		16,066
Series 357, 0.10%, 12/20/2029	JPY	777,000		5,678
Series 358, 0.10%, 03/20/2030	JPY	1,466,550		10,704
Series 359, 0.10%, 06/20/2030	JPY	4,212,450		30,729
Series 360, 0.10%, 09/20/2030	JPY	910,250		6,635
Series 361, 0.10%, 12/20/2030	JPY	971,000		7,073
Series 363, 0.10%, 06/20/2031	JPY	1,765,250		12,827
Series 364, 0.10%, 09/20/2031	JPY	469,200		3,411
Series 365, 0.10%, 12/20/2031	JPY	2,411,600		17,541
Series 366, 0.20%, 03/20/2032	JPY	1,980,000		14,557
Japan Government Thirty Year Bond, (Japan),
Series 4, 2.90%, 11/20/2030	JPY	411,050		3,699
Series 5, 2.20%, 05/20/2031	JPY	143,400		1,237
Series 11, 1.70%, 06/20/2033	JPY	100,000		841
Series 12, 2.10%, 09/20/2033	JPY	152,100		1,329
Series 17, 2.40%, 12/20/2034	JPY	112,150		1,018
Series 18, 2.30%, 03/20/2035	JPY	973,400		8,767
Series 19, 2.30%, 06/20/2035	JPY	2,867,700		25,878
Series 20, 2.50%, 09/20/2035	JPY	156,800		1,446
Series 21, 2.30%, 12/20/2035	JPY	749,850		6,785
Series 22, 2.50%, 03/20/2036	JPY	132,250		1,225
Series 23, 2.50%, 06/20/2036	JPY	469,200		4,351
Series 24, 2.50%, 09/20/2036	JPY	675,100		6,276
Series 29, 2.40%, 09/20/2038	JPY	110,100		1,022


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 32, 2.30%, 03/20/2040	JPY	271,450		2,493
Series 33, 2.00%, 09/20/2040	JPY	3,135,250		27,639
Series 34, 2.20%, 03/20/2041	JPY	622,350		5,643
Series 35, 2.00%, 09/20/2041	JPY	844,000		7,450
Series 36, 2.00%, 03/20/2042	JPY	124,900		1,106
Series 37, 1.90%, 09/20/2042	JPY	1,512,850		13,177
Series 38, 1.80%, 03/20/2043	JPY	103,400		887
Series 39, 1.90%, 06/20/2043	JPY	1,781,450		15,514
Series 40, 1.80%, 09/20/2043	JPY	56,950		488
Series 41, 1.70%, 12/20/2043	JPY	385,100		3,244
Series 42, 1.70%, 03/20/2044	JPY	580,800		4,891
Series 43, 1.70%, 06/20/2044	JPY	200,000		1,683
Series 44, 1.70%, 09/20/2044	JPY	627,600		5,282
Series 45, 1.50%, 12/20/2044	JPY	449,400		3,645
Series 46, 1.50%, 03/20/2045	JPY	707,550		5,734
Series 47, 1.60%, 06/20/2045	JPY	627,000		5,174
Series 48, 1.40%, 09/20/2045	JPY	1,844,250		14,648
Series 49, 1.40%, 12/20/2045	JPY	438,550		3,479
Series 50, 0.80%, 03/20/2046	JPY	131,550		920
Series 51, 0.30%, 06/20/2046	JPY	327,200		2,026
Series 52, 0.50%, 09/20/2046	JPY	145,450		943
Series 53, 0.60%, 12/20/2046	JPY	119,050		788
Series 55, 0.80%, 06/20/2047	JPY	1,130,650		7,803
Series 56, 0.80%, 09/20/2047	JPY	1,852,750		12,756
Series 57, 0.80%, 12/20/2047	JPY	487,150		3,346
Series 58, 0.80%, 03/20/2048	JPY	805,200		5,515
Series 61, 0.70%, 12/20/2048	JPY	231,950		1,534


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 62, 0.50%, 03/20/2049	JPY	2,172,650		13,579
Series 63, 0.40%, 06/20/2049	JPY	209,600		1,270
Series 64, 0.40%, 09/20/2049	JPY	387,050		2,338
Series 65, 0.40%, 12/20/2049	JPY	517,250		3,129
Series 66, 0.40%, 03/20/2050	JPY	639,850		3,865
Series 67, 0.60%, 06/20/2050	JPY	571,100		3,618
Series 68, 0.60%, 09/20/2050	JPY	131,500		832
Series 69, 0.70%, 12/20/2050	JPY	658,150		4,273
Series 70, 0.70%, 03/20/2051	JPY	493,700		3,198
Series 71, 0.70%, 06/20/2051	JPY	769,500		4,978
Series 72, 0.70%, 09/20/2051	JPY	142,600		921
Series 73, 0.70%, 12/20/2051	JPY	856,700		5,534
Series 74, 1.00%, 03/20/2052	JPY	1,479,500		10,325
Japan Government Twenty Year Bond, (Japan),
Series 72, 2.10%, 09/20/2024	JPY	975,400		7,534
Series 75, 2.10%, 03/20/2025	JPY	37,000		289
Series 80, 2.10%, 06/20/2025	JPY	517,000		4,053
Series 82, 2.10%, 09/20/2025	JPY	1,151,150		9,066
Series 92, 2.10%, 12/20/2026	JPY	196,250		1,582
Series 94, 2.10%, 03/20/2027	JPY	47,500		384
Series 96, 2.10%, 06/20/2027	JPY	93,350		759
Series 99, 2.10%, 12/20/2027	JPY	771,550		6,313
Series 102, 2.40%, 06/20/2028	JPY	900,900		7,542
Series 105, 2.10%, 09/20/2028	JPY	263,700		2,181
Series 109, 1.90%, 03/20/2029	JPY	5,043,100		41,529
Series 113, 2.10%, 09/20/2029	JPY	440,750		3,694
Series 118, 2.00%, 06/20/2030	JPY	1,865,000		15,669


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 121, 1.90%, 09/20/2030	JPY	1,308,800		10,952
Series 122, 1.80%, 09/20/2030	JPY	965,200		8,019
Series 123, 2.10%, 12/20/2030	JPY	167,000		1,422
Series 124, 2.00%, 12/20/2030	JPY	253,200		2,141
Series 125, 2.20%, 03/20/2031	JPY	768,850		6,615
Series 126, 2.00%, 03/20/2031	JPY	845,200		7,166
Series 127, 1.90%, 03/20/2031	JPY	636,450		5,356
Series 128, 1.90%, 06/20/2031	JPY	797,950		6,736
Series 131, 1.70%, 09/20/2031	JPY	1,095,000		9,119
Series 133, 1.80%, 12/20/2031	JPY	818,050		6,886
Series 134, 1.80%, 03/20/2032	JPY	447,550		3,775
Series 137, 1.70%, 06/20/2032	JPY	595,450		4,987
Series 140, 1.70%, 09/20/2032	JPY	1,436,700		12,045
Series 145, 1.70%, 06/20/2033	JPY	2,452,150		20,619
Series 146, 1.70%, 09/20/2033	JPY	173,100		1,456
Series 147, 1.60%, 12/20/2033	JPY	105,350		879
Series 148, 1.50%, 03/20/2034	JPY	970,000		8,015
Series 149, 1.50%, 06/20/2034	JPY	4,019,950		33,239
Series 150, 1.40%, 09/20/2034	JPY	4,908,050		40,167
Series 151, 1.20%, 12/20/2034	JPY	585,550		4,691
Series 152, 1.20%, 03/20/2035	JPY	1,277,600		10,229
Series 153, 1.30%, 06/20/2035	JPY	800,000		6,477
Series 154, 1.20%, 09/20/2035	JPY	845,850		6,768
Series 155, 1.00%, 12/20/2035	JPY	963,350		7,522
Series 156, 0.40%, 03/20/2036	JPY	745,350		5,382
Series 157, 0.20%, 06/20/2036	JPY	1,132,250		7,925
Series 158, 0.50%, 09/20/2036	JPY	1,132,700		8,249


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 159, 0.60%, 12/20/2036	JPY	1,889,100		13,918
Series 161, 0.60%, 06/20/2037	JPY	2,665,100		19,546
Series 164, 0.50%, 03/20/2038	JPY	649,700		4,662
Series 165, 0.50%, 06/20/2038	JPY	397,450		2,842
Series 166, 0.70%, 09/20/2038	JPY	308,900		2,271
Series 167, 0.50%, 12/20/2038	JPY	1,258,550		8,948
Series 168, 0.40%, 03/20/2039	JPY	590,400		4,113
Series 172, 0.40%, 03/20/2040	JPY	145,000		997
Series 173, 0.40%, 06/20/2040	JPY	872,500		5,972
Series 174, 0.40%, 09/20/2040	JPY	2,414,850		16,476
Series 175, 0.50%, 12/20/2040	JPY	698,400		4,840
Series 176, 0.50%, 03/20/2041	JPY	753,650		5,202
Series 177, 0.40%, 06/20/2041	JPY	908,850		6,146
Series 178, 0.50%, 09/20/2041	JPY	1,024,900		7,045
Series 179, 0.50%, 12/20/2041	JPY	1,334,450		9,161
Series 180, 0.80%, 03/20/2042	JPY	1,225,000		8,884
Japan Government Two Year Bond, (Japan),
Series 415, 0.10%, 08/01/2022	JPY	959,300		7,072
Series 430, 0.01%, 11/01/2023	JPY	300,000		2,214
Series 432, 0.01%, 01/01/2024	JPY	4,069,750		30,033
Japan Housing Finance Agency, (Japan),
Series 71, 1.75%, 03/19/2026	JPY	200,000		1,565
Series 108, 1.43%, 06/18/2027	JPY	100,000		784
Japan International Cooperation Agency, (Japan), Series 35, 0.08%, 06/19/2026	JPY	200,000		1,473
Japanese Government CPI Linked Bond, (Japan), Series 25, 0.20%, 03/10/2030	JPY	101,411		809
Jersey International Bond, (Jersey), Reg. S, 3.75%, 06/09/2054	GBP	400		517


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Junta de Castilla y Leon, (Spain), Reg. S, 0.43%, 04/30/2030	EUR	62		56
Kazakhstan Government International Bond, (Kazakhstan), Reg. S, 1.50%, 09/30/2034	EUR	200		151
Kingdom of Belgium Government Bond, (Belgium),
Series 44, Reg. S, 5.00%, 03/28/2035 (e)	EUR	880		1,206
Series 60, Reg. S, 4.25%, 03/28/2041 (e)	EUR	1,170		1,536
Series 64, Reg. S, 4.50%, 03/28/2026 (e)	EUR	705		829
Series 66, Reg. S, 4.00%, 03/28/2032	EUR	342		424
Series 71, Reg. S, 3.75%, 06/22/2045	EUR	563		708
Series 72, Reg. S, 2.60%, 06/22/2024 (e)	EUR	850		923
Series 73, Reg. S, 3.00%, 06/22/2034 (e)	EUR	2,138		2,435
Series 74, Reg. S, 0.80%, 06/22/2025 (e)	EUR	1,289		1,341
Series 75, Reg. S, 1.00%, 06/22/2031 (e)	EUR	1,317		1,283
Series 76, Reg. S, 1.90%, 06/22/2038 (e)	EUR	643		630
Series 77, Reg. S, 1.00%, 06/22/2026 (e)	EUR	1,412		1,469
Series 78, Reg. S, 1.60%, 06/22/2047 (e)	EUR	1,027		878
Series 79, Reg. S, 0.20%, 10/22/2023 (e)	EUR	247		258
Series 80, Reg. S, 2.15%, 06/22/2066 (e)	EUR	481		440
Series 82, Reg. S, 0.50%, 10/22/2024 (e)	EUR	1,000		1,040
Series 83, Reg. S, 2.25%, 06/22/2057 (e)	EUR	467		448
Series 84, Reg. S, 1.45%, 06/22/2037 (e)	EUR	300		278
Series 85, Reg. S, 0.80%, 06/22/2028 (e)	EUR	1,912		1,930
Series 86, Reg. S, 1.25%, 04/22/2033 (e)	EUR	894		870
Series 87, Reg. S, 0.90%, 06/22/2029 (e)	EUR	1,124		1,124
Series 88, Reg. S, 1.70%, 06/22/2050 (e)	EUR	746		639
Series 89, Reg. S, 0.10%, 06/22/2030 (e)	EUR	722		665
Series 90, Reg. S, 0.40%, 06/22/2040 (e)	EUR	505		370
Series 91, Reg. S, 0.00%, 10/22/2027 (e)	EUR	1,816		1,770


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Series 92, Reg. S, 0.00%, 10/22/2031 (e)	EUR	747		655
Series 93, Reg. S, 0.65%, 06/22/2071 (e)	EUR	328		160
Series 94, Reg. S, 0.35%, 06/22/2032 (e)	EUR	1,230		1,095
Series 95, Reg. S, 1.40%, 06/22/2053 (e)	EUR	405		312
Kommunalbanken A/S, (Norway),
Reg. S, 0.05%, 10/24/2029	EUR	100		91
Reg. S, 0.63%, 04/20/2026	EUR	1,200		1,209
Kommunekredit, (Denmark),
Reg. S, 0.01%, 05/04/2034	EUR	500		398
Reg. S, 0.25%, 03/29/2023	EUR	175		183
Reg. S, 0.50%, 01/24/2025	EUR	700		717
Kommuninvest I Sverige AB, (Sweden),
Reg. S, 1.50%, 05/12/2025	SEK	3,000		282
Series 2505, Reg. S, 1.00%, 05/12/2025	SEK	5,000		464
Series 2602, Reg. S, 0.75%, 02/04/2026	SEK	2,880		260
Series 2611, Reg. S, 1.00%, 11/12/2026	SEK	4,000		360
Series G24, Reg. S, 0.38%, 03/27/2024	SEK	4,880		460
Korea Development Bank (The), (South Korea),
Reg. S, 1.83%, 08/10/2027	SEK	2,000		184
6.00%, 01/22/2025	IDR	15,000,000		991
Korea Expressway Corp., (South Korea), Reg. S, 3.10%, 06/08/2026		200		193
Korea Housing Finance Corp., (South Korea),
Reg. S, 0.01%, 06/29/2026	EUR	100		97
Reg. S, 0.10%, 06/18/2024	EUR	100		102
Korea Hydro & Nuclear Power Co. Ltd., (South Korea), Reg. S, 0.00%, 07/19/2024	CHF	300		306
Korea National Oil Corp., (South Korea),
Reg. S, 0.00%, 10/04/2024	CHF	300		306
Reg. S, 0.26%, 07/30/2027	CHF	300		291
Korea Treasury Bond, (South Korea),
Series 2306, 1.00%, 06/10/2023	KRW	27,596,600		20,887
Series 2312, 0.88%, 12/10/2023	KRW	4,806,750		3,577
Series 2409, 1.38%, 09/10/2024	KRW	18,317,140		13,467


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 2509, 1.13%, 09/10/2025	KRW	23,030,000		16,389
Series 2603, 5.75%, 03/10/2026	KRW	5,119,010		4,221
Series 2612, 1.50%, 12/10/2026	KRW	12,039,290		8,447
Series 2703, 2.38%, 03/10/2027	KRW	10,000,000		7,257
Series 2712, 2.38%, 12/10/2027	KRW	2,000,000		1,439
Series 2806, 2.63%, 06/10/2028	KRW	2,900,000		2,104
Series 2912, 1.38%, 12/10/2029	KRW	17,013,840		11,133
Series 3006, 1.38%, 06/10/2030	KRW	7,900,000		5,118
Series 3106, 2.00%, 06/10/2031	KRW	7,015,550		4,709
Series 3112, 2.38%, 12/10/2031	KRW	10,752,080		7,430
Series 3206, 3.38%, 06/10/2032	KRW	3,944,190		2,985
Series 3909, 1.13%, 09/10/2039	KRW	19,009,410		10,001
Series 4009, 1.50%, 09/10/2040	KRW	2,000,000		1,108
Series 4109, 1.88%, 09/10/2041	KRW	2,287,610		1,350
Series 4603, 2.00%, 03/10/2046	KRW	1,444,000		836
Series 4703, 2.13%, 03/10/2047	KRW	4,548,060		2,688
Series 4803, 2.63%, 03/10/2048	KRW	7,412,190		4,839
Series 4903, 2.00%, 03/10/2049	KRW	2,252,320		1,279
Series 5003, 1.50%, 03/10/2050	KRW	17,807,000		8,840
Series 5103, 1.88%, 03/10/2051	KRW	10,331,900		5,613
Series 6609, 1.50%, 09/10/2066	KRW	2,340,000		1,004
Series 7009, 1.63%, 09/10/2070	KRW	989,340		436
Kuntarahoitus OYJ, (Finland),
Reg. S, 0.00%, 10/14/2030	EUR	500		444
Reg. S, 0.05%, 09/06/2029	EUR	400		367
Reg. S, 0.13%, 03/07/2024	EUR	180		185
Reg. S, 1.25%, 02/23/2033	EUR	200		191
Land Baden-Wuerttemberg, (Germany),
Reg. S, 0.01%, 09/02/2030	EUR	118		105
Reg. S, 0.63%, 01/27/2026	EUR	380		387
Series 120, Reg. S, 2.00%, 11/13/2023	EUR	220		234


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Land Berlin, (Germany),
Reg. S, 0.01%, 07/02/2030	EUR	490		440
Reg. S, 0.10%, 01/18/2030	EUR	135		124
Reg. S, 0.13%, 11/24/2045	EUR	90		56
Reg. S, 0.63%, 01/26/2052	EUR	100		67
Series 493, Reg. S, 0.63%, 02/08/2027	EUR	570		572
Series 495, Reg. S, 1.38%, 06/05/2037	EUR	260		237
Series 506, Reg. S, 1.38%, 08/27/2038	EUR	115		104
Series 530, Reg. S, 0.10%, 01/18/2041	EUR	80		55
Land Thueringen, (Germany),
Reg. S, 0.05%, 05/06/2030	EUR	260		235
Reg. S, 0.13%, 01/13/2051	EUR	100		58
Latvia Government International Bond, (Latvia),
Reg. S, 0.00%, 03/17/2031	EUR	100		83
Reg. S, 1.13%, 05/30/2028	EUR	390		379
Reg. S, 1.38%, 05/16/2036	EUR	110		96
Reg. S, 1.88%, 02/19/2049	EUR	100		84
Lithuania Government International Bond, (Lithuania),
Reg. S, 0.25%, 05/06/2025	EUR	70		69
Reg. S, 0.50%, 07/28/2050	EUR	210		114
Reg. S, 0.75%, 05/06/2030	EUR	440		395
Reg. S, 2.13%, 06/01/2032	EUR	210		205
Luxembourg Government Bond, (Luxembourg),
Reg. S, 0.00%, 04/28/2025	EUR	240		242
Reg. S, 0.00%, 11/13/2026	EUR	130		127
Reg. S, 0.00%, 04/28/2030	EUR	150		136
Malaysia Government Bond, (Malaysia),
Series 114, 4.18%, 07/15/2024	MYR	8,000		1,845
Series 118, 3.88%, 03/14/2025	MYR	2,000		458
Series 120, 4.07%, 06/15/2050	MYR	2,070		406
Series 122, 3.58%, 07/15/2032	MYR	13,150		2,822
Series 216, 4.74%, 03/15/2046	MYR	10,700		2,349
Series 217, 4.06%, 09/30/2024	MYR	12,000		2,758
Series 219, 3.89%, 08/15/2029	MYR	6,600		1,461
Series 220, 2.63%, 04/15/2031	MYR	5,636		1,122
Series 307, 3.50%, 05/31/2027	MYR	2,000		443
Series 317, 4.76%, 04/07/2037	MYR	2,200		506
Series 318, 4.64%, 11/07/2033	MYR	10,000		2,276
Series 319, 3.48%, 06/14/2024	MYR	5,500		1,253
Series 418, 4.89%, 06/08/2038	MYR	11,600		2,656
Series 419, 3.83%, 07/05/2034	MYR	3,300		694
Series 518, 4.92%, 07/06/2048	MYR	1,800		403
Series 519, 3.76%, 05/22/2040	MYR	10,790		2,130
Malaysia Government Investment Issue, (Malaysia),
Series 119, 4.13%, 07/09/2029	MYR	31,630		7,146
Series 217, 4.05%, 08/15/2024	MYR	3,090		711


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 218, 4.37%, 10/31/2028	MYR	7,600		1,736
Series 219, 4.47%, 09/15/2039	MYR	2,000		428
Series 222, 5.36%, 05/15/2052	MYR	1,780		423
Series 316, 4.07%, 09/30/2026	MYR	21,579		4,946
Series 0319, 3.73%, 03/31/2026	MYR	2,640		598
Series 417, 4.90%, 05/08/2047	MYR	521		116
Series 517, 4.76%, 08/04/2037	MYR	3,800		856
Series 519, 4.64%, 11/15/2049	MYR	2,995		640
Series 615, 4.79%, 10/31/2035	MYR	2,946		673
Series 617, 4.72%, 06/15/2033	MYR	3,000		691
Series 719, 3.15%, 05/15/2023	MYR	9,000		2,046
Metropolitano de Lisboa EPE, (Portugal), 7.30%, 12/23/2025	EUR	500		626
Mexican Bonos, (Mexico),
Series M, 7.75%, 05/29/2031	MXN	12,000		549
Series M 20, 7.50%, 06/03/2027	MXN	17,000		790
Series M 20, 8.50%, 05/31/2029	MXN	1,000		48
Mexico Government International Bond, (Mexico),
1.13%, 01/17/2030	EUR	600		486
1.35%, 09/18/2027	EUR	1,575		1,452
1.63%, 04/08/2026	EUR	100		97
2.13%, 10/25/2051	EUR	600		344
3.00%, 03/06/2045	EUR	425		316
4.13%, 01/21/2026		280		280
4.60%, 02/10/2048		250		195
5.75%, 10/12/2110		50		41
6.75%, 02/06/2024	GBP	100		126
Ministeries Van de Vlaamse Gemeenschap, (Belgium),
Reg. S, 0.01%, 06/23/2027	EUR	500		485
Reg. S, 1.00%, 01/23/2051	EUR	100		69
Reg. S, 1.38%, 11/21/2033	EUR	500		477
Reg. S, 1.50%, 07/12/2038	EUR	100		90
Reg. S, 1.50%, 04/11/2044	EUR	100		84
Municipal Finance Authority of British Columbia, (Canada),
1.10%, 06/01/2025	CAD	200		145
2.55%, 10/09/2029	CAD	300		213
2.80%, 12/03/2023	CAD	500		386
Nederlandse Waterschapsbank NV, (Netherlands),
Reg. S, 0.00%, 02/16/2037	EUR	200		148
Reg. S, 0.05%, 01/28/2030	EUR	374		340
0.13%, 09/25/2023	EUR	400		415
Reg. S, 0.25%, 06/07/2024	EUR	683		702
Reg. S, 0.38%, 09/28/2046	EUR	169		114
Reg. S, 0.75%, 10/04/2041	EUR	100		78
Reg. S, 1.00%, 03/01/2028	EUR	300		301
Reg. S, 1.25%, 05/27/2036	EUR	140		126
Reg. S, 1.50%, 06/15/2039	EUR	160		146
5.20%, 03/31/2025	CAD	1,000		814


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Netherlands Government Bond, (Netherlands),
Reg. S, 0.00%, 01/15/2024 (e)	EUR	446		464
0.00%, 01/15/2026	EUR	2,280		2,298
Reg. S, 0.00%, 01/15/2027 (e)	EUR	990		983
0.00%, 01/15/2029	EUR	890		848
Reg. S, 0.00%, 07/15/2030 (e)	EUR	764		708
Reg. S, 0.00%, 07/15/2031 (e)	EUR	1,167		1,059
Reg. S, 0.00%, 01/15/2038 (e)	EUR	642		497
Reg. S, 0.00%, 01/15/2052 (e)	EUR	814		490
Reg. S, 0.25%, 07/15/2025 (e)	EUR	354		363
Reg. S, 0.25%, 07/15/2029 (e)	EUR	799		770
Reg. S, 0.50%, 07/15/2032 (e)	EUR	440		409
Reg. S, 0.50%, 01/15/2040 (e)	EUR	540		443
Reg. S, 0.75%, 07/15/2027 (e)	EUR	1,503		1,537
Reg. S, 0.75%, 07/15/2028 (e)	EUR	390		394
Reg. S, 2.00%, 07/15/2024 (e)	EUR	1,274		1,369
Reg. S, 2.50%, 01/15/2033 (e)	EUR	2,458		2,763
Reg. S, 2.75%, 01/15/2047 (e)	EUR	1,388		1,699
Reg. S, 3.75%, 01/15/2042 (e)	EUR	1,261		1,701
Reg. S, 4.00%, 01/15/2037 (e)	EUR	974		1,291
Reg. S, 5.50%, 01/15/2028 (e)	EUR	666		854
New South Wales Treasury Corp., (Australia),
Reg. S, 1.00%, 02/08/2024	AUD	500		334
Reg. S, 1.25%, 03/20/2025	AUD	3,000		1,951
1.25%, 11/20/2030	AUD	1,800		990
Reg. S, 1.50%, 02/20/2032	AUD	1,000		540
Reg. S, 2.00%, 03/20/2031	AUD	1,900		1,103
Reg. S, 2.00%, 03/08/2033	AUD	3,500		1,933
2.25%, 05/07/2041	AUD	700		348
Reg. S, 2.50%, 11/22/2032	AUD	800		471
Reg. S, 3.00%, 03/20/2028	AUD	1,800		1,187
Reg. S, 3.00%, 02/20/2030	AUD	2,200		1,412
Series 27, Reg. S, 3.00%, 05/20/2027	AUD	4,100		2,731
New Zealand Government Bond, (New Zealand),
Series 425, Reg. S, 2.75%, 04/15/2025	NZD	1,700		1,039
Series 427, Reg. S, 4.50%, 04/15/2027	NZD	730		472
Series 429, 3.00%, 04/20/2029	NZD	2,210		1,316
Series 433, Reg. S, 3.50%, 04/14/2033	NZD	1,980		1,191
Series 437, Reg. S, 2.75%, 04/15/2037	NZD	1,920		1,026
Series 524, 0.50%, 05/15/2024	NZD	5,500		3,252
Series 526, 0.50%, 05/15/2026	NZD	2,033		1,127
Series 528, 0.25%, 05/15/2028	NZD	6,400		3,269
Series 531, 1.50%, 05/15/2031	NZD	2,700		1,392
Series 532, 2.00%, 05/15/2032	NZD	1,090		577
Series 541, 1.75%, 05/15/2041	NZD	1,265		543
Series 551, 2.75%, 05/15/2051	NZD	633		302


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
New Zealand Local Government Funding Agency Bond, (New Zealand),
1.50%, 04/20/2029	NZD	2,500		1,297
Reg. S, 2.00%, 04/15/2037	NZD	1,570		684
3.50%, 04/14/2033	NZD	300		169
Northern Territory Treasury Corp., (Australia),
Reg. S, 2.00%, 04/21/2031	AUD	600		344
Reg. S, 2.75%, 04/21/2027	AUD	2,200		1,448
Norway Government Bond, (Norway),
Series 476, Reg. S, 3.00%, 03/14/2024 (e)	NOK	6,073		618
Series 477, Reg. S, 1.75%, 03/13/2025 (e)	NOK	1,920		189
Series 478, Reg. S, 1.50%, 02/19/2026 (e)	NOK	2,520		243
Series 479, Reg. S, 1.75%, 02/17/2027 (e)	NOK	3,070		295
Series 480, Reg. S, 2.00%, 04/26/2028 (e)	NOK	3,320		319
Series 481, Reg. S, 1.75%, 09/06/2029 (e)	NOK	3,040		283
Series 483, Reg. S, 1.25%, 09/17/2031 (e)	NOK	2,794		243
Series 484, Reg. S, 2.13%, 05/18/2032 (e)	NOK	1,987		186
Series 482, Reg. S, 1.38%, 08/19/2030 (e)	NOK	5,080		454
OMERS Finance Trust, (Canada),
0.45%, 05/13/2025 (e)	EUR	250		253
Reg. S, 0.45%, 05/13/2025	EUR	2,700		2,736
Ontario Electricity Financial Corp., (Canada), Series 40, Zero Coupon, 04/11/2031	CAD	1,500		808
Ontario Teachers’ Finance Trust, (Canada),
Reg. S, 0.50%, 05/06/2025	EUR	1,800		1,828
Reg. S, 0.90%, 05/20/2041	EUR	1,050		799
Panama Government International Bond, (Panama), 4.50%, 04/16/2050		200		163
Peruvian Government International Bond, (Peru),
Reg. S, 1.95%, 11/17/2036	EUR	500		358
Reg. S, 2.75%, 01/30/2026	EUR	425		434
2.78%, 01/23/2031		110		94
3.23%, 07/28/2121		25		15
3.55%, 03/10/2051		50		37
Reg. S, 6.90%, 08/12/2037	PEN	1,000		236
Philippine Government International Bond, (Philippines),
1.65%, 06/10/2031		200		160
1.75%, 04/28/2041	EUR	500		352
9.50%, 02/02/2030		100		129


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Portugal Obrigacoes do Tesouro OT, (Portugal),
Reg. S, 0.30%, 10/17/2031 (e)	EUR	472		412
Reg. S, 0.48%, 10/18/2030 (e)	EUR	997		911
Reg. S, 0.70%, 10/15/2027 (e)	EUR	1,455		1,447
Reg. S, 0.90%, 10/12/2035 (e)	EUR	601		510
Reg. S, 1.00%, 04/12/2052 (e)	EUR	140		86
Reg. S, 1.15%, 04/11/2042 (e)	EUR	5		4
Reg. S, 1.65%, 07/16/2032 (e)	EUR	610		594
Reg. S, 1.95%, 06/15/2029 (e)	EUR	613		643
Reg. S, 2.13%, 10/17/2028 (e)	EUR	1,047		1,116
Reg. S, 2.88%, 10/15/2025 (e)	EUR	1,170		1,289
Reg. S, 2.88%, 07/21/2026 (e)	EUR	580		641
Reg. S, 3.88%, 02/15/2030 (e)	EUR	50		59
Reg. S, 4.10%, 04/15/2037 (e)	EUR	527		649
Reg. S, 4.10%, 02/15/2045 (e)	EUR	570		711
Reg. S, 4.13%, 04/14/2027 (e)	EUR	480		561
Reg. S, 5.65%, 02/15/2024 (e)	EUR	1,139		1,282
Series 15Y, Reg. S, 2.25%, 04/18/2034 (e)	EUR	426		436
Province of Alberta Canada, (Canada),
Reg. S, 1.40%, 02/20/2029	SEK	2,000		169
2.20%, 06/01/2026	CAD	600		444
Province of British Columbia Canada, (Canada),
2.80%, 06/18/2048	CAD	400		243
7.25%, 09/01/2036		300		405
7.88%, 11/30/2023	CAD	620		509
Province of Manitoba Canada, (Canada), 2.75%, 06/02/2029	CAD	500		363
Province of Nova Scotia Canada, (Canada), 3.45%, 06/01/2045	CAD	200		136
Province of Ontario Canada, (Canada),
Reg. S, 0.25%, 12/15/2026	GBP	1,000		1,091
Reg. S, 0.50%, 12/15/2023	GBP	500		592
Reg. S, 0.63%, 04/17/2025	EUR	400		409
5.60%, 06/02/2035	CAD	300		265
Province of Quebec Canada, (Canada),
Reg. S, 0.88%, 05/04/2027	EUR	1,600		1,604
Reg. S, 0.88%, 07/05/2028	EUR	1,025		1,006
Reg. S, 2.38%, 01/22/2024	EUR	425		453
3.50%, 12/01/2045	CAD	200		139
Series PD, 7.50%, 09/15/2029		100		125
Province of Saskatchewan Canada, (Canada), 3.30%, 06/02/2048	CAD	400		265
Queensland Treasury Corp., (Australia),
Reg. S, 1.50%, 03/02/2032 (e)	AUD	1,000		543
Reg. S, 1.50%, 08/20/2032 (e)	AUD	1,950		1,044
Reg. S, 1.75%, 08/21/2031 (e)	AUD	1,700		960
Reg. S, 1.75%, 07/20/2034 (e)	AUD	1,100		574
Reg. S, 2.25%, 04/16/2040 (e)	AUD	1,100		560
Reg. S, 2.25%, 11/20/2041 (e)	AUD	450		222
Reg. S, 3.25%, 08/21/2029 (e)	AUD	2,000		1,319


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 3.50%, 08/21/2030 (e)	AUD	1,500		997
Series 23, Reg. S, 4.25%, 07/21/2023 (e)	AUD	3,500		2,452
Series 24, Reg. S, 5.75%, 07/22/2024	AUD	1,100		797
Series 25, Reg. S, 4.75%, 07/21/2025 (e)	AUD	2,000		1,428
Series 26, Reg. S, 3.25%, 07/21/2026 (e)	AUD	1,000		679
Series 27, Reg. S, 2.75%, 08/20/2027 (e)	AUD	1,800		1,184
Series 28, Reg. S, 3.25%, 07/21/2028 (e)	AUD	3,100		2,071
Regiao Autonoma Madeira, (Portugal), 0.94%, 05/29/2032	EUR	200		179
Regie Autonome des Transports Parisiens, (France),
Reg. S, 0.38%, 06/15/2024	EUR	300		310
Reg. S, 0.40%, 12/19/2036	EUR	817		782
Reg. S, 0.88%, 05/25/2027	EUR	100		100
Reg. S, 1.75%, 05/25/2031	EUR	500		508
Reg. S, 1.88%, 05/25/2032	EUR	100		101
Region of Ile de France, (France),
Reg. S, 0.50%, 06/14/2025	EUR	200		204
Reg. S, 3.63%, 03/27/2024	EUR	100		110
Region Wallonne Belgium, (Belgium),
Reg. S, 0.05%, 06/22/2025	EUR	800		806
Reg. S, 0.25%, 05/03/2026	EUR	300		300
Reg. S, 0.38%, 10/22/2031	EUR	100		88
Reg. S, 0.50%, 06/22/2037	EUR	100		77
Reg. S, 1.05%, 06/22/2040	EUR	100		79
Reg. S, 1.38%, 04/06/2032	EUR	200		192
Republic of Austria Government Bond, (Austria),
Reg. S, 0.00%, 07/15/2024 (e)	EUR	280		289
Reg. S, 0.00%, 02/20/2030 (e)	EUR	498		459
Reg. S, 0.00%, 02/20/2031 (e)	EUR	1,344		1,203
Reg. S, 0.00%, 10/20/2040 (e)	EUR	350		243
Reg. S, 0.25%, 10/20/2036 (e)	EUR	680		546
Reg. S, 0.50%, 04/20/2027 (e)	EUR	1,240		1,250
Reg. S, 0.50%, 02/20/2029 (e)	EUR	739		722
Reg. S, 0.70%, 04/20/2071 (e)	EUR	261		145
Reg. S, 0.75%, 10/20/2026 (e)	EUR	1,000		1,027
Reg. S, 0.75%, 02/20/2028 (e)	EUR	740		745
Reg. S, 0.75%, 03/20/2051 (e)	EUR	1,052		756
Reg. S, 0.85%, 06/30/2120 (e)	EUR	200		93
Reg. S, 0.90%, 02/20/2032 (e)	EUR	480		458
Reg. S, 1.20%, 10/20/2025 (e)	EUR	860		905
Reg. S, 1.50%, 02/20/2047 (e)	EUR	425		385
Reg. S, 1.50%, 11/02/2086 (e)	EUR	190		140
Reg. S, 1.75%, 10/20/2023 (e)	EUR	595		634
Reg. S, 1.85%, 05/23/2049 (e)	EUR	180		173
Reg. S, 2.10%, 09/20/2117 (e)	EUR	376		333
Reg. S, 2.40%, 05/23/2034 (e)	EUR	673		733


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 3.15%, 06/20/2044 (e)	EUR	468		570
Reg. S, 3.80%, 01/26/2062 (e)	EUR	210		299
Reg. S, 4.15%, 03/15/2037 (e)	EUR	705		925
Reg. S, 4.85%, 03/15/2026 (e)	EUR	911		1,084
Reg. S, 6.25%, 07/15/2027	EUR	133		173
Series 1, Reg. S, 1.65%, 10/21/2024 (e)	EUR	1,468		1,569
Republic of Italy Government International Bond, (Italy),
1.25%, 02/17/2026		2,000		1,782
2.88%, 10/17/2029		200		176
Reg. S, (ICE EURIBOR Swap Rate 30 Year + 0.00%), 4.25%, 06/28/2029 (aa)	EUR	1,000		1,117
Reg. S, 5.13%, 07/31/2024	EUR	520		582
Reg. S, 6.00%, 08/04/2028	GBP	1,050		1,425
Republic of Poland Government Bond, (Poland),
Series 423, Zero Coupon, 04/25/2023	PLN	2,781		587
Series 424, 2.50%, 04/25/2024	PLN	1,639		335
Series 428, 2.75%, 04/25/2028	PLN	500		89
Series 429, 5.75%, 04/25/2029	PLN	530		112
Series 432, 1.75%, 04/25/2032	PLN	2,723		384
Series 447, 4.00%, 04/25/2047	PLN	373		49
Series 726, 2.50%, 07/25/2026	PLN	1,890		350
Series 727, 2.50%, 07/25/2027	PLN	7,710		1,377
Series 1024, 2.25%, 10/25/2024	PLN	5,960		1,182
Series 1026, 0.25%, 10/25/2026	PLN	2,890		483
Series 1029, 2.75%, 10/25/2029	PLN	3,773		644
Series 1030, 1.25%, 10/25/2030	PLN	1,213		176
Republic of Poland Government International Bond, (Poland),
Reg. S, 0.00%, 07/07/2023	EUR	425		439
Reg. S, 0.00%, 02/10/2025	EUR	60		59
Reg. S, 0.88%, 05/10/2027	EUR	1,000		963
Reg. S, 1.13%, 08/07/2026	EUR	925		916
Reg. S, 2.00%, 03/08/2049	EUR	53		43
Reg. S, 2.38%, 01/18/2036	EUR	500		448
Romania Government Bond, (Romania),
Series 3Y, 4.00%, 10/25/2023	RON	4,550		909
Series 5Y, 3.25%, 06/24/2026	RON	2,215		384
Series 5Y, 3.65%, 07/28/2025	RON	2,600		476
Series 5Y, 4.25%, 04/28/2036	RON	555		74
Series 7Y, 2.50%, 10/25/2027	RON	1,350		211
Series 10YR, 4.15%, 10/24/2030	RON	3,055		471
Romanian Government International Bond, (Romania),
Reg. S, 1.75%, 07/13/2030	EUR	500		373
Reg. S, 2.00%, 04/14/2033	EUR	800		542
Reg. S, 2.75%, 02/26/2026	EUR	15		15
Reg. S, 2.75%, 04/14/2041	EUR	400		244
Reg. S, 2.88%, 10/28/2024	EUR	775		811


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 3.38%, 02/08/2038	EUR	225		158
Reg. S, 3.38%, 01/28/2050	EUR	665		412
Reg. S, 3.62%, 05/26/2030	EUR	975		833
Russian Federal Bond — OFZ, (Russia),
Series 6221, 7.70%, 03/23/2033 (r) (bb)	RUB	1,000		1
Series 6228, 7.65%, 04/10/2030 (r) (bb)	RUB	67,000		104
Saitama Prefecture, (Japan), Series 7, 2.29%, 06/22/2029	JPY	500,000		4,198
Saudi Government International Bond, (Saudi Arabia),
Reg. S, 0.75%, 07/09/2027	EUR	100		94
Reg. S, 2.00%, 07/09/2039	EUR	600		480
SFIL SA, (France),
Reg. S, 0.00%, 05/24/2024	EUR	200		206
Reg. S, 0.05%, 06/04/2029	EUR	300		278
Reg. S, 0.13%, 10/18/2024	EUR	500		511
Singapore Government Bond, (Singapore),
1.25%, 11/01/2026	SGD	5,000		3,374
1.63%, 07/01/2031	SGD	1,608		1,034
1.88%, 03/01/2050	SGD	2,293		1,287
2.00%, 02/01/2024	SGD	4,700		3,356
2.13%, 06/01/2026	SGD	3,044		2,137
2.25%, 08/01/2036	SGD	2,920		1,904
2.38%, 07/01/2039	SGD	1,140		741
2.63%, 05/01/2028	SGD	1,926		1,370
2.75%, 04/01/2042	SGD	783		532
2.75%, 03/01/2046	SGD	1,718		1,156
2.88%, 07/01/2029	SGD	800		575
2.88%, 09/01/2030	SGD	2,295		1,641
3.38%, 09/01/2033	SGD	1,650		1,227
3.50%, 03/01/2027	SGD	1,800		1,335
Slovakia Government Bond, (Slovakia),
Series 231, 0.63%, 05/22/2026	EUR	860		871
Series 233, Reg. S, 2.00%, 10/17/2047	EUR	180		157
Series 234, Reg. S, 1.00%, 06/12/2028	EUR	240		239
Series 235, Reg. S, 2.25%, 06/12/2068	EUR	119		104
Series 238, Reg. S, 0.25%, 05/14/2025	EUR	400		406
Series 239, Reg. S, 1.00%, 05/14/2032	EUR	718		660
Series 241, Reg. S, 0.13%, 06/17/2027	EUR	162		157
Series 242, Reg. S, 0.38%, 04/21/2036	EUR	379		285
Series 243, Reg. S, 1.00%, 10/13/2051	EUR	130		82


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Slovenia Government Bond, (Slovenia),
Series RS66, Reg. S, 4.63%, 09/09/2024	EUR	319		364
Series RS70, Reg. S, 5.13%, 03/30/2026	EUR	470		566
Series RS74, Reg. S, 1.50%, 03/25/2035	EUR	120		110
Series RS76, Reg. S, 3.13%, 08/07/2045	EUR	160		178
Series RS77, Reg. S, 2.25%, 03/03/2032	EUR	130		135
Series RS78, Reg. S, 1.75%, 11/03/2040	EUR	112		100
Series RS82, Reg. S, 0.28%, 01/14/2030	EUR	586		532
Series RS84, Reg. S, 0.88%, 07/15/2030	EUR	190		179
Series RS87, Reg. S, 0.69%, 03/03/2081	EUR	121		48
SNCF Reseau, (France),
Reg. S, 0.88%, 01/22/2029	EUR	200		197
Reg. S, 1.00%, 11/09/2031	EUR	300		285
Reg. S, 1.13%, 05/19/2027	EUR	400		409
Reg. S, 1.50%, 05/29/2037	EUR	300		275
Reg. S, 2.00%, 11/12/2026	CHF	300		325
Reg. S, 2.00%, 02/05/2048	EUR	100		88
4.70%, 06/01/2035	CAD	100		82
Reg. S, 5.00%, 10/10/2033	EUR	200		264
Reg. S, 5.00%, 03/11/2052	GBP	145		226
Reg. S, 5.25%, 12/07/2028	GBP	300		420
Societe Du Grand Paris EPIC, (France),
Reg. S, 0.70%, 10/15/2060	EUR	300		158
Reg. S, 0.88%, 05/10/2046	EUR	100		71
Reg. S, 1.00%, 11/26/2051	EUR	200		134
Reg. S, 1.13%, 10/22/2028	EUR	700		704
Reg. S, 1.13%, 05/25/2034	EUR	300		273
Reg. S, 1.70%, 05/25/2050	EUR	300		252
Societe Nationale SNCF SA, (France),
Reg. S, 0.63%, 04/17/2030	EUR	300		283
Reg. S, 1.00%, 05/25/2040	EUR	100		78
Reg. S, 1.00%, 01/19/2061	EUR	100		54
Reg. S, 1.50%, 02/02/2029	EUR	100		102
Reg. S, 4.63%, 02/02/2024	EUR	300		333
Reg. S, 5.38%, 03/18/2027	GBP	400		542
South Australian Government Financing Authority, (Australia),
Reg. S, 2.00%, 05/23/2036	AUD	479		245
2.75%, 05/24/2030	AUD	2,500		1,565
Series 23, 4.25%, 11/20/2023	AUD	350		245
Series 24, Reg. S, 2.25%, 08/15/2024	AUD	400		270
Series 26, Reg. S, 3.00%, 07/20/2026	AUD	1,600		1,073


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Spain Government Bond, (Spain),
Reg. S, 0.85%, 07/30/2037 (e)	EUR	1,923		1,528
Reg. S, 1.25%, 10/31/2030 (e)	EUR	2,458		2,391
Reg. S, 1.45%, 04/30/2029 (e)	EUR	3,920		3,966
Reg. S, 2.15%, 10/31/2025 (e)	EUR	3,525		3,786
Reg. S, 0.00%, 05/31/2024	EUR	509		523
0.00%, 01/31/2025	EUR	1,909		1,937
0.00%, 05/31/2025	EUR	1,920		1,932
0.00%, 01/31/2026	EUR	311		308
0.00%, 01/31/2027	EUR	620		601
Reg. S, 0.00%, 01/31/2028 (e)	EUR	618		585
Reg. S, 0.10%, 04/30/2031 (e)	EUR	1,740		1,506
0.35%, 07/30/2023	EUR	1,000		1,044
Reg. S, 0.50%, 04/30/2030 (e)	EUR	823		763
Reg. S, 0.50%, 10/31/2031 (e)	EUR	658		582
Reg. S, 0.60%, 10/31/2029 (e)	EUR	1,410		1,333
Reg. S, 0.70%, 04/30/2032 (e)	EUR	1,390		1,235
Reg. S, 0.80%, 07/30/2027 (e)	EUR	2,861		2,859
0.80%, 07/30/2029	EUR	890		857
Reg. S, 1.00%, 07/30/2042 (e)	EUR	393		294
Reg. S, 1.00%, 10/31/2050 (e)	EUR	1,930		1,242
Reg. S, 1.20%, 10/31/2040 (e)	EUR	2,031		1,611
Reg. S, 1.30%, 10/31/2026 (e)	EUR	1,031		1,067
Reg. S, 1.40%, 04/30/2028 (e)	EUR	666		680
Reg. S, 1.40%, 07/30/2028 (e)	EUR	871		887
Reg. S, 1.45%, 10/31/2027 (e)	EUR	1,840		1,894
Reg. S, 1.45%, 10/31/2071 (e)	EUR	499		291
Reg. S, 1.50%, 04/30/2027 (e)	EUR	1,325		1,376
Reg. S, 1.60%, 04/30/2025 (e)	EUR	1,005		1,061
Reg. S, 1.85%, 07/30/2035 (e)	EUR	2,233		2,128
Reg. S, 1.90%, 10/31/2052 (e)	EUR	342		270
Reg. S, 1.95%, 04/30/2026 (e)	EUR	2,578		2,741
Reg. S, 1.95%, 07/30/2030 (e)	EUR	1,340		1,382
Reg. S, 2.35%, 07/30/2033 (e)	EUR	1,491		1,537
Reg. S, 2.55%, 10/31/2032 (e)	EUR	480		503
Reg. S, 2.75%, 10/31/2024 (e)	EUR	1,693		1,842
Reg. S, 2.90%, 10/31/2046 (e)	EUR	1,523		1,574
Reg. S, 3.45%, 07/30/2066 (e)	EUR	970		1,055
Reg. S, 3.80%, 04/30/2024 (e)	EUR	1,457		1,603
Reg. S, 4.20%, 01/31/2037 (e)	EUR	923		1,141
Reg. S, 4.40%, 10/31/2023 (e)	EUR	1,070		1,173
Reg. S, 4.65%, 07/30/2025 (e)	EUR	1,326		1,528
Reg. S, 4.70%, 07/30/2041 (e)	EUR	1,064		1,418
Reg. S, 4.80%, 01/31/2024 (e)	EUR	818		909
Reg. S, 4.90%, 07/30/2040 (e)	EUR	999		1,356
Reg. S, 5.15%, 10/31/2028 (e)	EUR	2,146		2,676
Reg. S, 5.15%, 10/31/2044 (e)	EUR	971		1,389
5.75%, 07/30/2032	EUR	1,826		2,488
Reg. S, 5.90%, 07/30/2026 (e)	EUR	420		516
6.00%, 01/31/2029	EUR	1,430		1,876
Series 5YR, Reg. S, 0.25%, 07/30/2024 (e)	EUR	1,223		1,261
Series 30Y, Reg. S, 2.70%, 10/31/2048 (e)	EUR	1,014		1,002


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


State of Brandenburg, (Germany),
Reg. S, 0.13%, 01/26/2046	EUR	159		100
Reg. S, 1.45%, 11/26/2038	EUR	180		164
State of Bremen, (Germany),
Series 191, Reg. S, 1.88%, 03/18/2024	EUR	580		616
Series 215, Reg. S, 1.20%, 01/30/2034	EUR	40		37
Series 224, Reg. S, 0.40%, 08/20/2049	EUR	30		19
Series 232, Reg. S, 0.55%, 02/04/2050	EUR	30		20
Series 247, Reg. S, 0.15%, 09/14/2040	EUR	110		77
Series 258, Reg. S, 0.50%, 05/06/2041	EUR	138		103
State of Hesse, (Germany),
Reg. S, 0.13%, 10/10/2031	EUR	203		178
Reg. S, 0.88%, 12/10/2024	EUR	600		623
Reg. S, 1.38%, 06/10/2024	EUR	490		515
Series 1801, Reg. S, 0.63%, 08/02/2028	EUR	230		225
State of Lower Saxony, (Germany),
Reg. S, 0.01%, 01/10/2031	EUR	479		425
Reg. S, 0.05%, 03/09/2035	EUR	277		218
Reg. S, 0.25%, 02/06/2024	EUR	325		336
Reg. S, 1.50%, 10/17/2029	EUR	200		205
Series 884, Reg. S, 0.88%, 10/25/2028	EUR	320		317
Series 898, Reg. S, 0.01%, 08/13/2030	EUR	149		134
State of North Rhine-Westphalia Germany, (Germany),
Reg. S, 0.00%, 01/15/2029	EUR	161		150
Reg. S, 0.20%, 04/09/2030	EUR	294		270
Reg. S, 0.20%, 01/27/2051	EUR	80		47
Reg. S, 0.38%, 09/02/2050	EUR	373		234
Reg. S, 0.50%, 11/25/2039	EUR	110		84
Reg. S, 0.75%, 08/16/2041	EUR	360		281
Reg. S, 0.80%, 07/30/2049	EUR	100		72
Reg. S, 0.95%, 03/13/2028	EUR	144		145
Reg. S, 0.95%, 01/10/2121	EUR	195		88
Reg. S, 1.38%, 01/15/2120	EUR	164		95
Reg. S, 1.45%, 02/16/2043	EUR	100		88
Reg. S, 1.45%, 01/19/2122	EUR	150		90
Reg. S, 1.65%, 02/22/2038	EUR	110		104
Reg. S, 1.65%, 05/16/2047	EUR	230		209
Reg. S, 1.75%, 10/26/2057	EUR	172		153
Reg. S, 1.75%, 07/11/2068	EUR	104		88
Reg. S, 1.88%, 03/15/2024	EUR	630		669
Reg. S, 1.95%, 09/26/2078	EUR	154		135
Reg. S, 2.15%, 03/21/2119	EUR	226		193
Series 15YR, Reg. S, 0.00%, 10/12/2035	EUR	654		502


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Series 15YR, Reg. S, 1.10%, 03/13/2034	EUR	110		102
Series 1250, Reg. S, 2.38%, 05/13/2033	EUR	350		374
Series 1409, Reg. S, 0.50%, 04/16/2026	EUR	360		364
State of Rhineland-Palatinate, (Germany),
Reg. S, 0.38%, 01/26/2027	EUR	220		218
Reg. S, 0.38%, 03/10/2051	EUR	200		125
Reg. S, 0.75%, 01/19/2026	EUR	725		741
State of Saarland, (Germany), Reg. S, 0.05%, 11/05/2040	EUR	68		47
State of Saxony-Anhalt, (Germany),
Reg. S, 0.50%, 03/24/2051	EUR	123		81
Reg. S, 1.88%, 04/10/2024	EUR	300		319
State of Schleswig-Holstein Germany, (Germany),
Reg. S, 0.13%, 06/12/2029	EUR	331		308
Reg. S, 0.50%, 03/22/2029	EUR	140		135
Reg. S, 0.63%, 08/31/2028	EUR	140		137
State of the Grand-Duchy of Luxembourg, (Luxembourg),
Reg. S, 0.00%, 03/24/2031	EUR	103		91
Reg. S, 1.38%, 05/25/2029	EUR	380		388
States of Guernsey Bond, (Guernsey), Reg. S, 3.38%, 12/12/2046	GBP	200		239
Svensk Exportkredit AB, (Sweden), Zero Coupon, 05/11/2037		224		123
Sweden Government Bond, (Sweden),
Series 1053, 3.50%, 03/30/2039	SEK	3,010		366
Series 1056, Reg. S, 2.25%, 06/01/2032	SEK	3,590		369
Series 1057, Reg. S, 1.50%, 11/13/2023 (e)	SEK	4,040		394
Series 1058, Reg. S, 2.50%, 05/12/2025 (e)	SEK	5,100		507
Series 1059, Reg. S, 1.00%, 11/12/2026	SEK	4,770		450
Series 1060, Reg. S, 0.75%, 05/12/2028 (e)	SEK	6,075		560
Series 1061, Reg. S, 0.75%, 11/12/2029 (e)	SEK	4,450		405
Series 1063, Reg. S, 0.50%, 11/24/2045	SEK	640		47
Series 1064, Reg. S, 1.38%, 06/23/2071 (e)	SEK	570		38
Series 1062, Reg. S, 0.13%, 05/12/2031 (e)	SEK	7,465		635
Sweden Government International Bond, (Sweden), Reg. S, 0.13%, 04/24/2023	EUR	700		731


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Swiss Confederation Government Bond, (Switzerland),
Reg. S, 0.00%, 06/22/2029	CHF	240		239
Reg. S, 0.00%, 06/26/2034	CHF	679		626
Reg. S, 0.00%, 07/24/2039	CHF	629		532
Reg. S, 0.50%, 05/27/2030	CHF	330		337
Reg. S, 0.50%, 06/27/2032	CHF	260		259
Reg. S, 0.50%, 06/28/2045	CHF	110		98
Reg. S, 0.50%, 05/24/2055	CHF	32		26
Reg. S, 0.50%, 05/30/2058	CHF	160		129
Reg. S, 1.25%, 06/11/2024	CHF	410		439
Reg. S, 1.25%, 06/27/2037	CHF	300		316
Reg. S, 1.50%, 07/24/2025	CHF	190		207
Reg. S, 1.50%, 04/30/2042	CHF	140		152
Reg. S, 2.00%, 06/25/2064	CHF	111		142
Reg. S, 2.25%, 06/22/2031	CHF	52		60
Reg. S, 3.25%, 06/27/2027	CHF	510		605
Reg. S, 4.00%, 04/08/2028	CHF	273		340
Reg. S, 4.00%, 01/06/2049	CHF	180		302
Tasmanian Public Finance Corp., (Australia), Reg. S, 2.25%, 01/22/2032	AUD	650		378
Thailand Government Bond, (Thailand),
1.45%, 12/17/2024	THB	108,000		3,021
1.60%, 12/17/2029	THB	54,000		1,408
1.88%, 06/17/2049	THB	107,164		1,929
2.00%, 12/17/2031	THB	151,412		3,994
2.00%, 06/17/2042	THB	19,000		403
2.13%, 12/17/2026	THB	157,364		4,395
2.40%, 12/17/2023	THB	220,000		6,314
2.88%, 12/17/2028	THB	124,165		3,549
2.88%, 06/17/2046	THB	15,000		353
3.30%, 06/17/2038	THB	232,300		6,290
3.40%, 06/17/2036	THB	25,000		695
3.60%, 06/17/2067	THB	53,000		1,197
3.65%, 06/20/2031	THB	110,000		3,303
4.00%, 06/17/2066	THB	25,620		636
Tokyo Metropolitan Government, (Japan),
Reg. S, 0.75%, 07/16/2025		1,000		920
Series 716, 0.77%, 12/20/2022	JPY	100,000		740
Series 726, 0.73%, 12/20/2023	JPY	1,800,000		13,407
Series 727, 0.72%, 12/20/2023	JPY	1,200,000		8,937
Series 747, 0.48%, 09/19/2025	JPY	200,000		1,494
Treasury Corp. of Victoria, (Australia),
0.50%, 11/20/2025	AUD	2,500		1,552
1.00%, 11/20/2023	AUD	3,650		2,449
1.25%, 11/19/2027	AUD	1,600		963


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Foreign Government Securities — continued
Reg. S, 1.50%, 11/20/2030	AUD	2,230		1,250
Reg. S, 1.50%, 09/10/2031	AUD	2,400		1,311
Reg. S, 2.00%, 09/17/2035	AUD	1,100		569
2.25%, 09/15/2033	AUD	900		503
Reg. S, 2.25%, 11/20/2034	AUD	3,800		2,070
2.25%, 11/20/2041	AUD	878		431
Reg. S, 2.50%, 10/22/2029	AUD	2,000		1,244
Reg. S, 3.00%, 10/20/2028	AUD	1,200		783
Tyollisyysrahasto, (Finland), 0.01%, 06/16/2027	EUR	200		191
U.S. Treasury Note, 2.63%, 04/15/2025		3,000		2,970
UNEDIC ASSEO, (France),
Reg. S, 0.00%, 03/05/2030	EUR	100		91
Reg. S, 0.00%, 11/19/2030	EUR	200		177
Reg. S, 0.10%, 11/25/2026	EUR	600		589
Reg. S, 0.25%, 11/25/2029	EUR	1,000		929
Reg. S, 0.25%, 07/16/2035	EUR	300		239
Reg. S, 0.50%, 03/20/2029	EUR	500		481
Reg. S, 0.63%, 03/03/2026	EUR	100		101
Reg. S, 0.88%, 10/25/2022	EUR	800		841
Reg. S, 1.25%, 10/21/2027	EUR	200		205
Reg. S, 1.25%, 05/25/2033	EUR	200		189
United Kingdom Gilt, (United Kingdom),
Reg. S, 0.13%, 01/31/2024	GBP	2,308		2,728
Reg. S, 0.13%, 01/30/2026	GBP	1,730		1,978
Reg. S, 0.13%, 01/31/2028	GBP	1,457		1,602
Reg. S, 0.25%, 01/31/2025	GBP	950		1,106
Reg. S, 0.25%, 07/31/2031	GBP	3,026		3,088
Reg. S, 0.38%, 10/22/2026	GBP	2,947		3,354
Reg. S, 0.38%, 10/22/2030	GBP	2,152		2,274
Reg. S, 0.50%, 01/31/2029	GBP	660		725
Reg. S, 0.50%, 10/22/2061	GBP	1,282		806
Reg. S, 0.63%, 06/07/2025	GBP	3,618		4,250
Reg. S, 0.63%, 07/31/2035	GBP	3,324		3,182
Reg. S, 0.63%, 10/22/2050	GBP	2,811		2,088
Reg. S, 0.88%, 10/22/2029	GBP	2,830		3,174
Reg. S, 0.88%, 07/31/2033	GBP	831		865
Reg. S, 0.88%, 01/31/2046	GBP	1,599		1,349
Reg. S, 1.00%, 04/22/2024	GBP	1,510		1,809
Reg. S, 1.00%, 01/31/2032	GBP	482		522
Reg. S, 1.13%, 01/31/2039	GBP	486		474
Reg. S, 1.13%, 10/22/2073	GBP	687		537
Reg. S, 1.25%, 07/22/2027	GBP	3,061		3,608
Reg. S, 1.25%, 10/22/2041	GBP	2,541		2,452
Reg. S, 1.25%, 07/31/2051	GBP	1,616		1,434
Reg. S, 1.50%, 07/22/2026	GBP	2,020		2,416
Reg. S, 1.50%, 07/22/2047	GBP	1,583		1,529
Reg. S, 1.50%, 07/31/2053	GBP	430		407
Reg. S, 1.63%, 10/22/2028	GBP	2,625		3,130
Reg. S, 1.63%, 10/22/2054	GBP	1,301		1,263
Reg. S, 1.63%, 10/22/2071	GBP	1,320		1,264
Reg. S, 1.75%, 09/07/2037	GBP	1,959		2,132


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Reg. S, 1.75%, 01/22/2049	GBP	1,550		1,577
Reg. S, 1.75%, 07/22/2057	GBP	1,744		1,751
Reg. S, 2.00%, 09/07/2025	GBP	2,463		3,005
Reg. S, 2.25%, 09/07/2023	GBP	3,820		4,663
Reg. S, 2.50%, 07/22/2065	GBP	1,192		1,483
Reg. S, 2.75%, 09/07/2024	GBP	2,780		3,440
Reg. S, 3.25%, 01/22/2044	GBP	2,600		3,470
Reg. S, 3.50%, 01/22/2045	GBP	3,037		4,219
Reg. S, 3.50%, 07/22/2068	GBP	1,179		1,864
Reg. S, 3.75%, 07/22/2052	GBP	1,257		1,903
Reg. S, 4.00%, 01/22/2060	GBP	1,508		2,516
Reg. S, 4.25%, 12/07/2027	GBP	1,620		2,196
Reg. S, 4.25%, 06/07/2032	GBP	2,130		3,049
Reg. S, 4.25%, 03/07/2036	GBP	1,449		2,105
Reg. S, 4.25%, 09/07/2039	GBP	894		1,330
Reg. S, 4.25%, 12/07/2040	GBP	2,095		3,149
Reg. S, 4.25%, 12/07/2046	GBP	3,998		6,262
Reg. S, 4.25%, 12/07/2049 (ff)	GBP	1,387		2,216
Reg. S, 4.25%, 12/07/2055	GBP	1,379		2,322
Reg. S, 4.50%, 09/07/2034	GBP	1,799		2,661
Reg. S, 4.50%, 12/07/2042	GBP	1,407		2,212
Reg. S, 4.75%, 12/07/2030	GBP	2,676		3,921
Reg. S, 4.75%, 12/07/2038	GBP	1,679		2,633
Reg. S, 5.00%, 03/07/2025	GBP	1,348		1,770
Reg. S, 6.00%, 12/07/2028	GBP	912		1,378
United States International Development Finance Corp., 3.37%, 10/05/2034		90		88
Uruguay Government International Bond, (Uruguay),
4.98%, 04/20/2055		50		49
5.10%, 06/18/2050		100		101
Ville de Paris, (France),
Reg. S, 1.38%, 11/20/2034	EUR	100		93
Reg. S, 1.75%, 05/25/2031	EUR	200		204
3.88%, 12/29/2025	EUR	500		566
Western Australian Treasury Corp., (Australia),
Reg. S, 1.50%, 10/22/2030	AUD	692		392
Reg. S, 1.75%, 10/22/2031	AUD	800		451
Reg. S, 2.25%, 07/23/2041	AUD	590		296
Series 24, Reg. S, 2.50%, 07/23/2024	AUD	2,800		1,904
Series 25, Reg. S, 5.00%, 07/23/2025	AUD	2,000		1,437
Series 26, Reg. S, 3.00%, 10/21/2026	AUD	400		269
Series 28, Reg. S, 3.25%, 07/20/2028	AUD	1,400		936

Total Foreign Government Securities (Cost $4,345,199)				3,650,975

Mortgage-Backed Securities — 19.0%
FHLMC Gold Pool,
3.00%, 10/01/2046		202		187
3.50%, 12/01/2044		421		404


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
3.50%, 06/01/2045		840		807
3.50%, 05/01/2046		163		156
3.50%, 10/01/2046		221		213
FHLMC Gold Pool, Single Family, 15 years, 3.00%, 05/01/2029		6,804		6,793
FHLMC Gold Pool, Single Family, 30 years,
3.00%, 03/01/2046		20		19
3.00%, 12/01/2046		32		30
4.00%, 08/01/2040		303		307
4.00%, 10/01/2040		2,687		2,724
4.00%, 11/01/2040		637		646
4.00%, 11/01/2047		1,977		1,991
4.00%, 01/01/2048		42		42
FHLMC Non Gold Pool, ARM, (ICE LIBOR USD 1 Year + 1.64%), 3.58%, 01/01/2050 (aa)		68		69
FHLMC Pool,
3.50%, 02/01/2043		75		73
3.50%, 02/01/2044		95		93
6.00%, 08/01/2035		56		58
FHLMC Pool, Single Family, 15 years,
1.50%, 12/01/2035		418		382
1.50%, 03/01/2036		633		577
1.50%, 02/01/2037		894		815
2.00%, 12/01/2035		832		779
2.00%, 02/01/2036		5,745		5,385
2.00%, 03/01/2036		473		443
2.00%, 05/01/2036		2,887		2,706
2.00%, 08/01/2036		1,379		1,292
2.00%, 10/01/2036		732		686
2.00%, 11/01/2036		4,084		3,825
2.00%, 12/01/2036		407		382
2.00%, 01/01/2037		4,906		4,596
2.00%, 04/01/2037		1,295		1,213
2.00%, 05/01/2037		1,118		1,047
2.00%, 06/01/2037		2,113		1,977
2.50%, 07/01/2032		2,731		2,682
2.50%, 10/01/2035		9,240		8,893
2.50%, 07/01/2036		1,489		1,425
2.50%, 04/01/2037		173		165
3.00%, 04/01/2028		53		53
3.00%, 10/01/2028		1,613		1,609
3.00%, 04/01/2029		63		62
3.00%, 05/01/2030		6		6
3.00%, 06/01/2030		765		763
3.00%, 11/01/2030		135		135
3.00%, 11/01/2031		50		50
3.00%, 11/01/2032		134		132
3.00%, 01/01/2033		64		63
3.50%, 11/01/2025		493		492
3.50%, 09/01/2033		363		363
3.50%, 02/01/2034		893		889
3.50%, 05/01/2035		695		702


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.50%, 12/01/2035		172		171
3.50%, 02/01/2036		276		275
4.00%, 07/01/2025		30		30
4.00%, 05/01/2026		21		21
4.00%, 07/01/2029		504		510
4.00%, 11/01/2033		583		590
4.00%, 01/01/2034		19		19
FHLMC Pool, Single Family, 20 years,
3.50%, 06/01/2039		309		303
3.50%, 07/01/2039		181		176
3.50%, 08/01/2039		682		667
3.50%, 09/01/2039		407		398
FHLMC Pool, Single Family, 30 years,
1.50%, 02/01/2051		30		25
1.50%, 04/01/2051		54		45
1.50%, 05/01/2051		5,846		4,873
1.50%, 07/01/2051		982		818
2.00%, 09/01/2050		789		689
2.00%, 10/01/2050		4,067		3,554
2.00%, 02/01/2051		4,329		3,782
2.00%, 03/01/2051		3,170		2,770
2.00%, 05/01/2051		12,252		10,673
2.00%, 06/01/2051		1,456		1,272
2.00%, 07/01/2051		1,487		1,300
2.00%, 10/01/2051		1,911		1,671
2.00%, 11/01/2051		6,172		5,393
2.00%, 12/01/2051		4,794		4,183
2.00%, 02/01/2052		2,317		2,024
2.00%, 03/01/2052		861		752
2.50%, 11/01/2050		24,732		22,336
2.50%, 12/01/2050		856		774
2.50%, 04/01/2051		437		394
2.50%, 08/01/2051		15,737		14,324
2.50%, 11/01/2051		958		865
2.50%, 03/01/2052		2,605		2,354
2.50%, 04/01/2052		1,341		1,211
3.00%, 02/01/2049		2,467		2,347
3.00%, 11/01/2049		1,909		1,791
3.00%, 05/01/2050		4,037		3,809
3.00%, 07/01/2050		1,849		1,734
3.00%, 08/01/2050		4,428		4,165
3.00%, 06/01/2051		3,520		3,291
3.00%, 07/01/2051		6,208		5,876
3.00%, 11/01/2051		2,236		2,090
3.00%, 12/01/2051		5,112		4,777
3.00%, 02/01/2052		1,740		1,625
3.00%, 03/01/2052		3,302		3,089
3.00%, 04/01/2052		7,019		6,568
3.50%, 11/01/2047		374		366
3.50%, 02/01/2048		1,989		1,946
3.50%, 03/01/2048		336		329
3.50%, 05/01/2048		4,385		4,294
3.50%, 06/01/2048		5		5
3.50%, 01/01/2049		58		57


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
3.50%, 02/01/2049		614		602
3.50%, 09/01/2049		1,187		1,156
3.50%, 10/01/2049		2,312		2,249
3.50%, 04/01/2050		3,423		3,334
3.50%, 11/01/2051		518		500
3.50%, 01/01/2052		462		445
3.50%, 04/01/2052		991		957
4.00%, 10/01/2048		3,135		3,141
4.00%, 04/01/2049		2,676		2,681
4.00%, 09/01/2049		1,669		1,673
4.00%, 05/01/2050		1,167		1,167
4.00%, 08/01/2050		1,478		1,469
4.00%, 09/01/2050		10,820		10,789
4.50%, 12/01/2047		198		201
4.50%, 03/01/2048		217		219
4.50%, 04/01/2048		630		636
4.50%, 08/01/2048		25		26
4.50%, 09/01/2048		853		860
4.50%, 08/01/2049		1,573		1,609
4.50%, 10/01/2050		4,313		4,359
5.00%, 12/01/2049		464		486
FNMA or FHLMC, Single Family, 15 years,
TBA, 1.50%, 07/01/2036 (w)		7,791		7,099
TBA, 2.00%, 06/01/2037 (w)		3,064		2,865
TBA, 2.50%, 07/01/2037 (w)		15,600		14,919
TBA, 3.00%, 07/01/2037 (w)		3,025		2,958
TBA, 3.50%, 07/01/2037 (w)		2,325		2,313
TBA, 4.00%, 07/01/2036 (w)		4,700		4,743
FNMA or FHLMC, Single Family, 30 years,
TBA, 1.50%, 07/01/2052 (w)		8,275		6,886
TBA, 2.00%, 07/01/2052 (w)		4,748		4,129
TBA, 2.00%, 08/01/2052 (w)		2,000		1,737
TBA, 2.50%, 07/01/2052 (w)		46,024		41,468
TBA, 3.00%, 07/01/2052 (w)		62,352		58,142
TBA, 3.00%, 08/01/2052 (w)		47,300		44,051
TBA, 3.00%, 09/01/2052 (w)		5,000		4,650
TBA, 3.50%, 07/01/2052 (w)		33,774		32,530
TBA, 3.50%, 08/01/2052 (w)		90,435		86,991
TBA, 4.00%, 07/01/2052 (w)		38,600		38,108
TBA, 4.00%, 08/01/2052 (w)		53,500		52,721
TBA, 4.50%, 07/01/2052 (w)		5,350		5,377
TBA, 5.00%, 07/01/2052 (w)		2,775		2,835
TBA, 5.50%, 07/01/2052 (w)		200		208
FNMA Pool,
3.00%, 05/01/2045		362		336
3.00%, 03/01/2060		21,768		20,436
3.01%, 04/01/2032		4,189		3,976
3.44%, 01/01/2037		326		314
3.50%, 08/01/2032		80		78
3.50%, 12/01/2042		164		161
3.50%, 04/01/2043		248		244
3.50%, 11/01/2043		122		119


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.50%, 02/01/2045		291		285
3.50%, 02/01/2048		866		832
3.50%, 09/01/2048		90		86
3.50%, 07/01/2049		299		286
4.00%, 04/01/2041		138		138
4.00%, 08/01/2046		122		123
5.39%, 07/01/2024		594		601
FNMA Pool, 10 years,
2.00%, 11/01/2027		542		518
3.50%, 07/01/2024		160		160
3.50%, 09/01/2027		202		202
3.50%, 12/01/2028		84		83
FNMA Pool, 30 years, FHA/VA, 3.00%, 01/01/2047		997		943
FNMA Pool, Single Family, 15 years,
1.50%, 10/01/2036		600		547
1.50%, 11/01/2036		545		497
1.50%, 02/01/2037		1,472		1,343
1.50%, 03/01/2037		1,478		1,348
2.00%, 02/01/2028		18		17
2.00%, 09/01/2028		148		145
2.00%, 11/01/2028		146		143
2.00%, 07/01/2032		11		11
2.00%, 12/01/2035		940		880
2.00%, 02/01/2036		7,127		6,674
2.00%, 03/01/2036		543		508
2.00%, 08/01/2036		1,324		1,240
2.00%, 11/01/2036		2,639		2,472
2.00%, 12/01/2036		1,322		1,238
2.00%, 01/01/2037		649		608
2.00%, 05/01/2037		784		734
2.50%, 08/01/2035		276		265
2.50%, 03/01/2036		2,541		2,437
2.50%, 07/01/2036		1,026		983
2.50%, 03/01/2037		272		260
2.50%, 04/01/2037		467		448
2.50%, 05/01/2037		147		141
3.00%, 04/01/2027		717		715
3.00%, 11/01/2027		50		50
3.00%, 02/01/2028		322		322
3.00%, 10/01/2029		82		82
3.00%, 03/01/2030		54		54
3.00%, 05/01/2030		30		30
3.00%, 07/01/2030		27		27
3.00%, 09/01/2030		803		801
3.00%, 12/01/2030		39		39
3.00%, 04/01/2031		127		126
3.00%, 12/01/2031		279		279
3.00%, 07/01/2032		120		119
3.00%, 01/01/2033		83		82
3.00%, 07/01/2033		133		132
3.00%, 02/01/2034		1,619		1,607
3.00%, 12/01/2035		716		714
3.50%, 12/01/2025		271		270


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
3.50%, 01/01/2026		776		774
3.50%, 07/01/2031		87		87
3.50%, 07/01/2034		569		570
3.50%, 03/01/2035		1,786		1,788
3.50%, 04/01/2035		1,060		1,058
3.50%, 05/01/2035		106		107
3.50%, 06/01/2035		326		326
4.00%, 03/01/2025		114		115
4.00%, 06/01/2026		113		114
4.00%, 08/01/2026		69		69
4.00%, 08/01/2027		67		68
4.00%, 12/01/2028		24		24
4.00%, 04/01/2033		690		703
4.00%, 10/01/2033		103		106
4.00%, 11/01/2033		611		618
4.00%, 12/01/2033		24		24
4.00%, 03/01/2035		1,906		1,927
FNMA Pool, Single Family, 20 years,
3.50%, 03/01/2037		553		556
3.50%, 08/01/2038		123		120
3.50%, 04/01/2039		16		15
3.50%, 08/01/2039		195		190
4.50%, 06/01/2039		37		38
FNMA Pool, Single Family, 30 years,
1.50%, 11/01/2050		1,441		1,203
1.50%, 06/01/2051		2,195		1,831
1.50%, 07/01/2051		1,317		1,099
2.00%, 07/01/2050		1,563		1,366
2.00%, 09/01/2050		1,369		1,196
2.00%, 10/01/2050		1,032		904
2.00%, 12/01/2050		8,582		7,500
2.00%, 01/01/2051		4,468		3,905
2.00%, 02/01/2051		1,457		1,273
2.00%, 03/01/2051		2,223		1,943
2.00%, 04/01/2051		4,053		3,543
2.00%, 05/01/2051		959		839
2.00%, 06/01/2051		6,442		5,629
2.00%, 07/01/2051		3,327		2,908
2.00%, 10/01/2051		20,210		17,642
2.00%, 11/01/2051		2,448		2,144
2.00%, 02/01/2052		79,131		68,950
2.00%, 03/01/2052		18,700		16,339
2.00%, 12/01/2051 (hh)		17,107		14,925
2.50%, 08/01/2046		5,798		5,271
2.50%, 08/01/2050		19		18
2.50%, 10/01/2050		9,326		8,446
2.50%, 12/01/2050		13,750		12,416
2.50%, 02/01/2051		1,990		1,800
2.50%, 03/01/2051		5,742		5,202
2.50%, 04/01/2051		7,019		6,347
2.50%, 07/01/2051		1,897		1,714
2.50%, 08/01/2051		4,176		3,780
2.50%, 11/01/2051		5,693		5,140
2.50%, 12/01/2051		15,168		13,704


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


2.50%, 03/01/2052		12,333		11,136
2.50%, 04/01/2052		5,115		4,620
2.50%, 01/01/2052 (hh)		17,342		15,658
3.00%, 08/01/2046		1,314		1,245
3.00%, 04/01/2048		6,835		6,541
3.00%, 01/01/2050		3,535		3,333
3.00%, 03/01/2050		1,735		1,637
3.00%, 07/01/2050		12,307		11,540
3.00%, 08/01/2050		3,474		3,258
3.00%, 12/01/2050		4,441		4,182
3.00%, 01/01/2051		1,684		1,576
3.00%, 05/01/2051		11,911		11,136
3.00%, 06/01/2051		7,739		7,233
3.00%, 07/01/2051		1,697		1,586
3.00%, 08/01/2051		1,425		1,340
3.00%, 10/01/2051		3,561		3,328
3.00%, 11/01/2051		3,747		3,502
3.00%, 12/01/2051		2,838		2,653
3.00%, 02/01/2052		863		808
3.00%, 03/01/2052		3,240		3,026
3.00%, 04/01/2052		12,445		11,629
3.00%, 05/01/2052		1,482		1,386
3.50%, 12/01/2045		2,256		2,205
3.50%, 07/01/2046		4,455		4,363
3.50%, 07/01/2047		496		486
3.50%, 09/01/2047		71		70
3.50%, 10/01/2047		1,494		1,463
3.50%, 02/01/2048		2,399		2,349
3.50%, 03/01/2048		216		212
3.50%, 03/01/2049		385		376
3.50%, 06/01/2049		3,175		3,101
3.50%, 04/01/2050		193		188
3.50%, 05/01/2050		4,330		4,209
3.50%, 07/01/2050		11,966		11,620
3.50%, 01/01/2051		865		838
3.50%, 03/01/2052		15,591		15,239
3.50%, 04/01/2052		2,978		2,874
3.50%, 05/01/2052		19,329		18,683
4.00%, 04/01/2039		1,610		1,630
4.00%, 03/01/2042		652		662
4.00%, 04/01/2043		246		249
4.00%, 02/01/2045		272		276
4.00%, 09/01/2046		164		166
4.00%, 09/01/2047		46		46
4.00%, 10/01/2047		571		573
4.00%, 03/01/2048		87		88
4.00%, 04/01/2048		483		485
4.00%, 06/01/2048		33		33
4.00%, 08/01/2048		145		145
4.00%, 03/01/2049		1,363		1,365
4.00%, 06/01/2049		1,359		1,362
4.00%, 11/01/2049		245		245
4.00%, 05/01/2050		1,118		1,111
4.00%, 03/01/2051		2,920		2,915


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Mortgage-Backed Securities — continued
4.50%, 05/01/2047		3		3
4.50%, 11/01/2047		681		694
4.50%, 01/01/2048		709		720
4.50%, 04/01/2048		36		36
4.50%, 08/01/2048		19		19
4.50%, 09/01/2048		498		505
4.50%, 02/01/2049		6,035		6,074
4.50%, 05/01/2049		539		544
4.50%, 08/01/2049		12		12
4.50%, 01/01/2050		498		513
4.50%, 04/01/2050		8,243		8,295
4.50%, 06/01/2052		1,417		1,426
5.00%, 09/01/2049		1,236		1,285
GNMA I Pool, Single Family, 30 years,
3.00%, 10/15/2049		237		224
3.00%, 03/15/2050		18		17
GNMA II Pool,
2.50%, 12/20/2049		286		260
3.00%, 01/20/2047		127		119
3.00%, 08/20/2050		743		698
3.50%, 06/20/2048		57		56
3.50%, 07/20/2048		47		45
3.50%, 08/20/2049		110		106
3.50%, 11/20/2049		183		177
3.50%, 07/20/2050		216		209
4.00%, 11/20/2041		27		28
4.00%, 10/20/2050		345		340
4.50%, 08/20/2040		21		22
4.50%, 10/20/2040		47		49
GNMA II Pool, ARM,
(ICE LIBOR USD 1 Month + 2.21%), 2.65%, 02/20/2071 (aa)		3,956		4,081
(ICE LIBOR USD 1 Month + 2.21%), 2.65%, 10/20/2071 (aa)		13,070		13,468
GNMA II Pool, Single Family, 15 years, 2.00%, 12/20/2035		3,686		3,456
GNMA II Pool, Single Family, 30 years,
1.50%, 10/20/2051		337		288
2.00%, 07/20/2050		174		156
2.00%, 08/20/2050		5,559		4,980
2.00%, 11/20/2050		1,938		1,734
2.00%, 12/20/2050		3,211		2,870
2.00%, 02/20/2051		1,177		1,051
2.00%, 10/20/2051		9,092		8,106
2.00%, 12/20/2051		6,092		5,431
2.50%, 01/20/2051		355		327
2.50%, 02/20/2051		2,690		2,476
2.50%, 05/20/2051		7,307		6,728
2.50%, 07/20/2051		9,285		8,547
2.50%, 08/20/2051		1,746		1,604
2.50%, 11/20/2051		3,935		3,622
2.50%, 12/20/2051		4,294		3,951
3.00%, 03/20/2045		114		110
3.00%, 09/20/2046		2,473		2,374


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


3.00%, 10/20/2047		499		476
3.00%, 04/20/2049		37		36
3.00%, 07/20/2050		4,562		4,323
3.00%, 08/20/2050		7,221		6,845
3.00%, 10/20/2051		2,445		2,313
3.00%, 11/20/2051		4,073		3,852
3.00%, 12/20/2051		986		932
3.00%, 01/20/2052		9,229		8,723
3.00%, 02/20/2052		392		370
3.00%, 04/20/2052		3,821		3,610
3.50%, 09/20/2045		3,088		3,056
3.50%, 09/20/2047		4,017		3,976
3.50%, 08/20/2048		207		204
3.50%, 11/20/2048		246		242
3.50%, 12/20/2048		7		6
3.50%, 07/20/2049		1,171		1,147
3.50%, 09/20/2049		980		960
3.50%, 12/20/2049		492		480
3.50%, 01/20/2050		735		717
3.50%, 04/20/2050		146		143
3.50%, 01/20/2052		3,232		3,150
3.50%, 02/20/2052		2,268		2,210
4.00%, 07/20/2048		1,203		1,210
4.00%, 09/20/2048		2,024		2,034
4.00%, 11/20/2048		35		35
4.00%, 12/20/2048		1,021		1,019
4.00%, 05/20/2049		637		639
4.00%, 12/20/2050		2,964		2,968
4.50%, 03/20/2047		511		533
4.50%, 06/20/2047		934		979
4.50%, 07/20/2047		1,830		1,898
4.50%, 10/20/2047		364		379
4.50%, 11/20/2047		1,130		1,161
4.50%, 05/20/2048		8,942		9,268
4.50%, 09/20/2048		779		779
4.50%, 11/20/2048		857		887
4.50%, 01/20/2049		2,251		2,304
4.50%, 05/20/2049		289		287
4.50%, 10/20/2049		808		823
5.00%, 12/20/2048		244		254
5.00%, 06/20/2049		440		453
GNMA Pool, TBA, 4.50%, 08/01/2052		1,600		1,619
GNMA, Single Family, 30 years,
TBA, 2.00%, 07/01/2050 (w)		4,222		3,756
TBA, 2.50%, 07/21/2052 (w)		10,761		9,865
TBA, 3.00%, 07/01/2052 (w)		21,196		19,997
TBA, 3.50%, 07/01/2052 (w)		17,180		16,718
TBA, 4.00%, 07/01/2052 (w)		3,900		3,887
TBA, 4.00%, 08/01/2052 (w)		7,200		7,160
TBA, 4.50%, 07/01/2052 (w)		1,850		1,879
TBA, 5.00%, 07/01/2052 (w)		675		692

Total Mortgage-Backed Securities (Cost $1,444,634)				1,367,644


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Municipal Bonds — 0.0% (g) (t)
Arizona — 0.0% (g)
Salt River Project, Agricultural Improvement & Power District, Build America Bonds, Series A, Rev., 4.84%, 01/01/2041		150		160

California — 0.0% (g)
Bay Area Toll Authority, San Francisco Bay Area, Rev., 2.57%, 04/01/2031		100		91
California Health Facilities Financing Authority, Taxable, Social Bonds,
Rev., 4.19%, 06/01/2037		5		5
Rev., 4.35%, 06/01/2041		5		5
California State University, Taxable Systemwide, Series E, Rev., 2.90%, 11/01/2051		15		12
Los Angeles County Metropolitan Transportation Authority, Build America Bonds, Rev., 5.74%, 06/01/2039		50		56
Los Angeles Department of Water & Power, Power System Revenue, Build America Bonds, Rev., 6.60%, 07/01/2050		30		39
Los Angeles Unified School District, Build America Bond, GO, 5.75%, 07/01/2034		25		28
Regents of the University of California Medical Center Pooled Revenue, Taxable, Series N, Rev., 3.26%, 05/15/2060		50		37
State of California, Build America Bonds,
GO, 7.50%, 04/01/2034		50		64
GO, 7.55%, 04/01/2039		50		68
GO, 7.60%, 11/01/2040		50		69
University of California, Build America Bonds, Rev., 5.95%, 05/15/2045		35		41
University of California, Taxable,
Series AQ, Rev., 4.77%, 05/15/2115		20		18
Series BJ, Rev., 3.07%, 05/15/2051		5		4


				537

District of Columbia — 0.0% (g)
District of Columbia, Water & Sewer Authority, Senior Lien, Green Bonds, Series A, Rev., 4.81%, 10/01/2114		895		898

Florida — 0.0% (g)
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.26%, 07/01/2025		100		93


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Illinois — 0.0% (g)
Sales Tax Securitization Corp., Taxable, Second Lien, Series B, Rev., 3.24%, 01/01/2042		40		34
State of Illinois, Taxable Pension, GO, 5.10%, 06/01/2033		100		100


				134

Louisiana — 0.0% (g)
State of Louisiana Gasoline & Fuels Tax Revenue, Taxable, Series A, Rev., 2.95%, 05/01/2041		1,450		1,185

Massachusetts — 0.0% (g)
Commonwealth of Massachusetts, Build America Bonds, GO, 4.91%, 05/01/2029		100		104
Commonwealth of Massachusetts, Taxable Consolidated Loan, Series H, GO, 2.90%, 09/01/2049		15		12


				116

Michigan — 0.0% (g)
University of Michigan, Taxable,
Series B, Rev., 2.56%, 04/01/2050		25		18
Series C, Rev., 3.60%, 04/01/2047		14		13


				31

Missouri — 0.0% (g)
Health & Educational Facilities Authority of the State of Missouri, Washington University, Series A, Rev., 3.23%, 05/15/2050		35		29

New Jersey — 0.0% (g)
New Jersey Transportation Trust Fund Authority, Build America Bonds, Series B, Rev., 6.56%, 12/15/2040		25		29
New Jersey Turnpike Authority, Build America Bonds, Series F, Rev., 7.41%, 01/01/2040		30		40


				69

New York — 0.0% (g)
City of New York, Build America Bonds, GO, 5.52%, 10/01/2037		25		28
New York City Water & Sewer System, Build America Bonds, Second General Resolution, Rev., 5.44%, 06/15/2043		30		35
Port Authority of New York & New Jersey, Consolidated,
Series 174, Rev., 4.46%, 10/01/2062		50		48
Series 21, Rev., 3.29%, 08/01/2069		40		30


				141


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
Municipal Bonds — continued
Oregon — 0.0% (g)
Oregon State University, Rev., BAM, 3.42%, 03/01/2060		10		8
State of Oregon Department of Transportation, Taxable Subordinated, Build America Bonds, Series A, Rev., 5.83%, 11/15/2034		50		57


				65

Pennsylvania — 0.0% (g)
City of Philadelphia Water & Wastewater Revenue, Rev., 2.93%, 07/01/2045		10		8

Texas — 0.0% (g)
City of San Antonio, Electric & Gas Systems Revenue, Build America Bonds, Rev., 5.99%, 02/01/2039		20		24
Dallas Area Rapid Transit, Build America Bonds, Rev., 5.02%, 12/01/2048		30		33
Dallas Area Rapid Transit, Taxable, Senior Lien, Series A, Rev., 2.61%, 12/01/2048		15		11
Dallas Fort Worth International Airport, Taxable,
Series A, Rev., 4.09%, 11/01/2051		425		415
Series C, Rev., 3.09%, 11/01/2040		100		83
North Texas Tollway Authority, Build America Bonds, Series B, Rev., 6.72%, 01/01/2049		15		20
Texas Transportation Commission, Taxable Mobility Fund, GO, 2.47%, 10/01/2044		10		7
University of Texas System, Build America Bonds, Series C, Rev., 4.79%, 08/15/2046		10		11


				604

Virginia — 0.0% (g)
University of Virginia, Taxable, Series C, Rev., 4.18%, 09/01/2117		40		35

Total Municipal Bonds (Cost $5,145)				4,105

U.S. Government Agency Securities — 0.3%
Federal Farm Credit Banks Funding Corp., 5.48%, 06/27/2042		1,000		998
FHLBs,
0.50%, 04/14/2025		2,000		1,867
3.25%, 11/16/2028		650		654
5.50%, 07/15/2036		200		242
FHLMC,
Zero Coupon, 12/14/2029		1,320		1,034
0.13%, 07/25/2022		5		5
0.25%, 08/24/2023		2,650		2,571
0.38%, 07/21/2025		1,000		923
1.50%, 02/12/2025		107		103
6.25%, 07/15/2032		207		258
6.75%, 03/15/2031		400		503


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


FHLMC Coupon STRIPs, Zero Coupon, 03/15/2030		235		184
FHLMC STRIPs, Zero Coupon, 03/15/2031		700		521
FNMA,
0.25%, 05/22/2023		3,000		2,932
0.30%, 08/03/2023		100		97
0.35%, 08/18/2023		1,500		1,458
0.88%, 08/05/2030		1,310		1,085
5.38%, 12/07/2028	GBP	460		652
6.25%, 05/15/2029		1,000		1,187
FNMA Interest STRIP, Zero Coupon, 07/15/2030		177		137
Resolution Funding Corp. Interest STRIP,
Zero Coupon, 07/15/2028		166		137
Zero Coupon, 10/15/2028		400		324
Zero Coupon, 07/15/2029		115		91
Zero Coupon, 01/15/2030		950		737
Zero Coupon, 04/15/2030		995		761
Resolution Funding Corp. Principal STRIP, Zero Coupon, 01/15/2030		50		39
Tennessee Valley Authority,
4.63%, 06/07/2043	GBP	200		287
5.88%, 04/01/2036		400		487

Total U.S. Government Agency Securities (Cost $22,158)				20,274

U.S. Treasury Obligations — 7.9%
U.S. Treasury Bonds,
1.13%, 05/15/2040		6,482		4,539
1.13%, 08/15/2040		3,225		2,242
1.25%, 05/15/2050 (jj)		9,680		6,214
1.38%, 11/15/2040		770		558
1.38%, 08/15/2050		3,626		2,409
1.63%, 11/15/2050		2,600		1,845
1.75%, 08/15/2041		750		574
1.88%, 02/15/2041		1,200		946
1.88%, 02/15/2051		2,700		2,043
1.88%, 11/15/2051		2,730		2,066
2.00%, 11/15/2041		2,800		2,237
2.00%, 02/15/2050		4,169		3,259
2.00%, 08/15/2051		3,850		3,001
2.25%, 05/15/2041		3,100		2,601
2.25%, 08/15/2046		2,440		1,982
2.25%, 08/15/2049		3,300		2,730
2.25%, 02/15/2052		4,200		3,486
2.38%, 02/15/2042		2,650		2,260
2.38%, 11/15/2049		2,200		1,873
2.38%, 05/15/2051		4,750		4,043
2.50%, 02/15/2045		6,420		5,481
2.50%, 02/15/2046		1,000		854
2.50%, 05/15/2046		2,370		2,023
2.75%, 11/15/2042		2,000		1,801
2.75%, 08/15/2047		900		811
2.75%, 11/15/2047		900		812


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
U.S. Treasury Obligations — continued
2.88%, 05/15/2043		2,220		2,036
2.88%, 08/15/2045		1,185		1,084
2.88%, 11/15/2046		1,500		1,378
2.88%, 05/15/2049		3,000		2,819
2.88%, 05/15/2052		1,400		1,333
3.00%, 05/15/2042		1,000		942
3.00%, 11/15/2044		900		839
3.00%, 05/15/2045		1,730		1,615
3.00%, 11/15/2045		4,229		3,956
3.00%, 02/15/2047		338		318
3.00%, 05/15/2047		500		471
3.00%, 08/15/2048		2,020		1,923
3.00%, 02/15/2049		2,400		2,305
3.13%, 11/15/2041		1,200		1,158
3.13%, 02/15/2043		860		822
3.13%, 08/15/2044		350		334
3.38%, 11/15/2048		2,500		2,560
3.50%, 02/15/2039		500		525
3.63%, 08/15/2043		4,090		4,221
3.63%, 02/15/2044		3,000		3,096
3.75%, 11/15/2043		3,115		3,276
3.88%, 08/15/2040		900		975
4.25%, 11/15/2040		1,769		2,009
4.38%, 05/15/2041		410		472
4.50%, 02/15/2036		1,805		2,129
4.63%, 02/15/2040		1,000		1,195
4.75%, 02/15/2037		300		364
4.75%, 02/15/2041		800		968
5.00%, 05/15/2037		300		372
5.25%, 02/15/2029		365		413
U.S. Treasury Inflation Indexed Notes, 0.13%, 04/15/2025		45		45
U.S. Treasury Notes,
0.13%, 07/15/2023		6,000		5,829
0.13%, 08/15/2023		45		44
0.13%, 09/15/2023		10,000		9,670
0.13%, 10/15/2023		1,000		965
0.13%, 01/15/2024		100		96
0.25%, 03/15/2024		4,700		4,491
0.25%, 05/15/2024		2,000		1,902
0.25%, 06/15/2024		3,500		3,322
0.25%, 05/31/2025		10,000		9,238
0.25%, 06/30/2025		10,000		9,217
0.25%, 07/31/2025		19,920		18,310
0.25%, 09/30/2025		2,500		2,287
0.25%, 10/31/2025		600		547
0.38%, 04/15/2024		2,600		2,484
0.38%, 08/15/2024		2,000		1,894
0.38%, 04/30/2025		1,585		1,473
0.38%, 11/30/2025		3,500		3,200
0.38%, 12/31/2025		4,990		4,553
0.38%, 01/31/2026		600		546
0.38%, 07/31/2027		6,215		5,443
0.38%, 09/30/2027 (jj)		6,600		5,751


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


0.50%, 11/30/2023 (ii)		800		773
0.50%, 03/31/2025		500		467
0.50%, 04/30/2027		1,532		1,358
0.50%, 05/31/2027		4,500		3,981
0.50%, 06/30/2027		5,000		4,414
0.50%, 08/31/2027		2,400		2,110
0.50%, 10/31/2027		700		613
0.63%, 07/31/2026		2,350		2,134
0.63%, 03/31/2027		1,000		894
0.63%, 11/30/2027		2,200		1,935
0.63%, 12/31/2027		3,600		3,160
0.63%, 05/15/2030 (jj)		10,758		8,992
0.63%, 08/15/2030		4,555		3,785
0.75%, 12/31/2023		2,000		1,936
0.75%, 11/15/2024		2,000		1,898
0.75%, 03/31/2026		1,500		1,380
0.75%, 04/30/2026		2,500		2,295
0.75%, 05/31/2026		2,400		2,199
0.75%, 08/31/2026		2,000		1,823
0.75%, 01/31/2028		3,000		2,646
0.88%, 01/31/2024		5,000		4,842
0.88%, 06/30/2026		6,000		5,516
0.88%, 09/30/2026		2,300		2,104
0.88%, 11/15/2030		4,700		3,978
1.00%, 12/15/2024		2,000		1,906
1.00%, 07/31/2028		4,095		3,628
1.13%, 10/31/2026		630		582
1.13%, 02/28/2027		4,000		3,670
1.13%, 02/29/2028		2,300		2,072
1.13%, 08/31/2028		3,500		3,121
1.13%, 02/15/2031		5,000		4,307
1.25%, 07/31/2023		8,100		7,957
1.25%, 11/30/2026		2,000		1,854
1.25%, 12/31/2026		1,700		1,574
1.25%, 03/31/2028		2,500		2,262
1.25%, 04/30/2028		2,300		2,078
1.25%, 05/31/2028		4,550		4,106
1.25%, 06/30/2028		5,190		4,677
1.25%, 09/30/2028		1,800		1,615
1.25%, 08/15/2031		5,430		4,687
1.38%, 10/31/2028		2,300		2,077
1.38%, 12/31/2028		2,500		2,258
1.38%, 11/15/2031		5,200		4,523
1.50%, 02/29/2024		750		733
1.50%, 10/31/2024		500		484
1.50%, 08/15/2026		1,000		940
1.50%, 11/30/2028		2,500		2,274
1.50%, 02/15/2030		3,399		3,059
1.63%, 02/15/2026		5,500		5,234
1.63%, 05/15/2026		2,500		2,372
1.63%, 10/31/2026		1,400		1,320
1.63%, 08/15/2029		2,000		1,825
1.63%, 05/15/2031		5,570		4,990
1.75%, 01/31/2023		1,780		1,771
1.75%, 06/30/2024		3,800		3,712
1.75%, 03/15/2025		5,800		5,613


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Long Positions — continued
U.S. Treasury Obligations — continued
1.75%, 12/31/2026		840		795
1.75%, 01/31/2029		3,500		3,234
1.75%, 11/15/2029		2,000		1,839
1.88%, 02/28/2027		1,500		1,426
1.88%, 02/28/2029		2,140		1,993
1.88%, 02/15/2032		5,350		4,860
2.00%, 05/31/2024		4,000		3,931
2.00%, 08/15/2025		3,000		2,910
2.00%, 11/15/2026		7,535		7,214
2.13%, 02/29/2024		55		54
2.13%, 03/31/2024		12,000		11,832
2.13%, 07/31/2024		3,000		2,950
2.13%, 09/30/2024		8,400		8,251
2.13%, 05/15/2025		8,000		7,812
2.25%, 03/31/2024		4,000		3,953
2.25%, 11/15/2024		10,700		10,525
2.25%, 11/15/2025		2,575		2,511
2.25%, 03/31/2026		400		389
2.25%, 02/15/2027		7,000		6,759
2.25%, 08/15/2027		4,200		4,041
2.38%, 08/15/2024		3,800		3,753
2.38%, 05/15/2027		5,000		4,848
2.38%, 03/31/2029		4,370		4,191
2.38%, 05/15/2029		3,500		3,359
2.50%, 04/30/2024		1,500		1,488
2.50%, 05/31/2024		1,500		1,488
2.50%, 01/31/2025		4,000		3,951
2.50%, 03/31/2027		3,000		2,931
2.63%, 02/15/2029		2,100		2,049
2.75%, 07/31/2023		7,000		6,988
2.75%, 11/15/2023		4,300		4,289
2.75%, 02/15/2024		3,000		2,992
2.75%, 02/28/2025		10,500		10,434
2.75%, 04/30/2027		1,500		1,482
2.75%, 02/15/2028		4,660		4,586
2.75%, 05/31/2029		2,000		1,965
2.88%, 09/30/2023		3,000		2,999
2.88%, 10/31/2023		1,524		1,523
2.88%, 04/30/2025		7,900		7,874
2.88%, 06/15/2025		2,500		2,492
2.88%, 11/30/2025		1,300		1,294
2.88%, 05/15/2028		4,500		4,455
2.88%, 08/15/2028		1,800		1,781
2.88%, 04/30/2029		2,145		2,124
2.88%, 05/15/2032		4,415		4,378
3.00%, 09/30/2025		120		120
3.13%, 11/15/2028 (jj)		6,390		6,415
3.25%, 06/30/2027		500		506
3.25%, 06/30/2029		2,000		2,028
U.S. Treasury STRIP Coupon Bonds,
Zero Coupon, 05/15/2024		800		758
Zero Coupon, 05/15/2026		5,000		4,457
Zero Coupon, 11/15/2026		5,000		4,386
Zero Coupon, 11/15/2028 (ee) (ff)		12,000		9,881
Zero Coupon, 11/15/2038		6,250		3,668
Zero Coupon, 11/15/2041		200		101


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)


Zero Coupon, 08/15/2045		600		264

Total U.S. Treasury Obligations (Cost $645,127)				567,996

Short-Term Investments — 6.7%
Repurchase Agreement — 0.6%
HSBC Bank plc, 1.53%, dated 06/29/2022 due 07/06/2022, repurchase price $45,414 collateralized by U.S. Treasury Securities, 0.13% - 2.25%, due 08/31/2023 - 11/15/2024, with a value of $47,028.		45,400		45,400

Time Deposits — 5.7%
Australia & New Zealand Banking Group Ltd.,
0.25%, 07/01/2022	AUD	5,572		3,846
0.91%, 07/01/2022		39,390		39,390
BNP Paribas SA,
(1.20%), 07/01/2022	CHF	564		591
0.52%, 07/01/2022	GBP	4,852		5,907
Brown Brothers Harriman,
(0.73%), 07/01/2022	DKK	1,685		237
0.07%, 07/01/2022	NOK	4,005		407
0.25%, 07/01/2022	NZD	1,767		1,103
0.37%, 07/04/2022	HKD	2,041		260
0.65%, 07/01/2022	SGD	959		690
Citibank NA,
(0.78%), 07/01/2022	EUR	9,628		10,090
0.91%, 07/01/2022		1,857		1,857
Royal Bank of Canada,
0.51%, 07/04/2022	CAD	160		124
0.91%, 07/01/2022		1,165		1,165
Skandinaviska Enskilda Banken AB, 0.01%, 07/01/2022	SEK	1,681		164
Sumitomo Mitsui Banking Corp.,
(0.36%), 07/01/2022	JPY	1,298,018		9,567
0.91%, 07/01/2022		270,047		270,047
Sumitomo Mitsui Trust Bank Ltd., 0.91%, 07/01/2022		62,687		62,687

Total Time Deposits				408,132

U.S. Treasury Obligations — 0.4%
U.S. Treasury Bills,
Zero Coupon, 07/12/2022 (hh) (ii)		7,300		7,298
Zero Coupon, 07/19/2022 (hh) (ii)		16,600		16,591
Zero Coupon, 08/23/2022 (ee) (hh) (ii)		2,200		2,195
U.S. Cash Management Bill, Zero Coupon, 10/04/2022 (hh)		2,700		2,687

Total U.S. Treasury Obligations				28,771

Total Short-Term Investments (Cost $482,312)				482,303


Total Investments, Before Short Positions — 107.0% (Cost — $8,866,326)*				7,715,041

Liabilities in Excess of Other Assets — (7.0)%				(504,930	)


NET ASSETS — 100.0%			$	7,210,111


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Short Positions — 1.4%
Mortgage-Backed Securities — 1.4%
FHLMC Pool, Single Family, 15 years,
3.50%, 12/01/2035		172		172
3.50%, 02/01/2036		276		275
FNMA or FHLMC, Single Family, 15 years, TBA, 3.00%, 07/01/2037 (w)		6,500		6,356
FNMA or FHLMC, Single Family, 30 years,
TBA, 2.50%, 07/01/2052 (w)		43,500		39,194
TBA, 3.50%, 07/01/2052 (w)		35,135		33,841
TBA, 4.50%, 07/01/2052 (w)		900		905
TBA, 4.50%, 08/01/2052 (w)		18,100		18,150
FNMA Pool, Single Family, 15 years,
3.50%, 06/01/2035		326		326
3.50%, 04/01/2035		1,060		1,058


ICE		— Intercontinental Exchange
IF		— Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of June 30, 2022. The rate may be subject to a cap and floor.
IO		— Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
KLIBOR		— Kuala Lumpur Interbank Offered Rate
LIBOR		— London Interbank Offered Rate
OYJ		— Public Limited Company
OTC		— Over the Counter
PO		— Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
Reg. S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Interbank Average Rate
STRIP		— Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB		— Step-Up Bond. The interest rate shown is the rate in effect as of June 30, 2022.
TBA		— To Be Announced
TONAR		— Tokyo Overnight Average Rate
VA		— Veterans Administration
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(r)		— Security has not paid interest and/or interest is currently not being accrued on the security due to financial and trading sanctions imposed on Russia.
(t)		— The date shown represents the earliest of the next put date or final maturity date.


(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(x)		— Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of June 30, 2022.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.
(bb)		— Security has been valued using significant unobservable inputs.
(ee)		— Approximately $1,858,845 of these investments are restricted as collateral for swaps to various brokers.
(ff)		— Approximately $519,195 of these investments are restricted as collateral for futures to Citigroup Global Markets Inc.
(hh)		— Approximately $6,107,243 of these investments are restricted as collateral for TBAs to various brokers.
(ii)		— Approximately $1,478,245 of these investments are restricted as collateral for forwards to various brokers.
(jj)		— Approximately $1,119,934 of these investments are restricted as collateral for bi-lateral derivatives to various brokers.
*		— The cost of securities is substantially the same for federal income tax purposes.
AUD		— Australian Dollar
CAD		— Canadian Dollar
CHF		— Swiss Franc
CLP		— Chilean Peso
CNH		— Chinese Yuan
CNY		— Chinese Yuan
COP		— Colombian Peso
CZK		— Czech Koruna
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
HKD		— Hong Kong Dollar
HUF		— Hungarian Forint
IDR		— Indonesian Rupiah
ILS		— Israeli New Shekel
JPY		— Japanese Yen
KRW		— Korean Won
MXN		— Mexican Peso
MYR		— Malaysian Ringgit
NOK		— Norwegian Krone
NZD		— New Zealand Dollar
PEN		— Peruvian Nuevo Sol
PLN		— Polish Zloty
RON		— Romanian Leu
RUB		— Russian Ruble
SEK		— Swedish Krona
SGD		— Singapore Dollar
THB		— Thai Baht
USD		— United States Dollar


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bond — 0.0% (g)
Consumer Non-cyclical — 0.0% (g)
Healthcare — Services — 0.0% (g)
Tower Health, Series 2020, 4.45%, 02/01/2050 (Cost $863)		1,000		672

Municipal Bonds — 94.5% (t)
Alabama — 2.6%
Alabama Economic Settlement Authority, BP Settlement, Series A, Rev., 4.00%, 09/15/2033		1,000		1,004
Alabama Federal Aid Highway Finance Authority, Series A, Rev., 5.00%, 09/01/2035 (p)		2,000		2,214
Alabama Federal Aid Highway Finance Authority, Garvee, Series A, Rev., 5.00%, 09/01/2035 (p)		1,000		1,129
Alabama Housing Finance Authority, South Oak Residence Project, Rev., 1.25%, 12/01/2025 (z)		4,270		4,112
Alabama Public School and College Authority, Social Bonds,
Series A, Rev., 5.00%, 11/01/2035		6,400		7,257
Series A, Rev., 5.00%, 11/01/2039		10,000		11,253
Alabama Special Care Facilities Financing Authority, Ascension Senior Credit Group, Series C, Rev., 5.00%, 11/15/2046		5,000		5,253
Black Belt Energy Gas District,
Rev., LIQ: Royal Bank of Canada, 4.00%, 06/01/2051 (z)		14,030		14,228
Series A, Rev., VRDO, LIQ: Royal Bank of Canada, 4.00%, 07/01/2022 (z)		1,200		1,200
Series B1, Rev., 4.00%, 04/01/2053 (z)		2,000		2,022
Series B2, Rev., (SIFMA Municipal Swap Index + 0.65%), 1.56%, 04/01/2053 (aa)		9,250		9,258
Series D1, Rev., 4.00%, 07/01/2052 (w) (z)		1,930		1,987
Black Belt Energy Gas District, Gas Project Bonds Project No. 7, Rev., 4.00%, 10/01/2052 (z)		10,110		10,232
Black Belt Energy Gas District, Gas Project No. 8, Series A, Rev., 4.00%, 12/01/2052 (z)		3,410		3,414
Black Belt Energy Gas District, Project No. 4, Series A1, Rev., 4.00%, 12/01/2049 (z)		7,810		7,919
Black Belt Energy Gas District, Project No. 5, Series A1, Rev., 4.00%, 10/01/2049 (z)		5,000		5,066
Black Belt Energy Gas District, Project No. 6, Series B, Rev., 4.00%, 10/01/2052 (z)		6,505		6,584
City of Birmingham, Warrants, Series A, GO, 4.00%, 06/01/2032		4,075		4,314
County of Jefferson, Sewer Revenue, Senior Lien, Warrants, Series A, Rev., AGM, 5.50%, 10/01/2053		500		525


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Alabama — continued
County of Jefferson, Sewer Revenue, Subordinated Lien, Series D, Rev., 6.50%, 10/01/2053		220		240
Health Care Authority of the City of Huntsville, Health System,
Series B1, Rev., 4.00%, 06/01/2045		1,750		1,652
Series B1, Rev., 5.00%, 06/01/2038		1,000		1,061
Hoover Industrial Development Board, Green Bonds, Rev., AMT, 6.38%, 11/01/2050 (z)		2,375		2,679
Selma Industrial Development Board, International Paper Co. Project, Rev., 1.38%, 05/01/2034 (z)		1,000		945
Southeast Alabama Gas Supply District (The), Project No. 2, Series A, Rev., 4.00%, 06/01/2049 (z)		100		101
Southeast Energy Authority A Cooperative District, Series B1, Rev., 5.00%, 05/01/2053 (z)		1,195		1,264
Southeast Energy Authority A Cooperative District, Project 1, Series A, Rev., 4.00%, 11/01/2051 (z)		4,580		4,608
Southeast Energy Authority A Cooperative District, Project 2, Series B, Rev., 4.00%, 12/01/2051 (z)		6,000		5,974
State of Alabama Docks Department, Docks,
Series A, Rev., AGM, AMT, 5.00%, 10/01/2025		1,750		1,871
Series A, Rev., AGM, AMT, 5.00%, 10/01/2026		1,890		2,050
Tuscaloosa City Board of Education, Warrants, Rev., 5.00%, 08/01/2041 (p)		2,525		2,796
UAB Medicine Finance Authority,
Rev., 5.00%, 09/01/2032		1,800		1,987
Series B, Rev., 5.00%, 09/01/2041		1,750		1,819
Water Works Board of the City of Birmingham, Series B, Rev., 5.00%, 01/01/2038 (p)		1,630		1,658


				129,676

Alaska — 0.2%
Alaska Housing Finance Corp.,
Series A, Rev., 5.00%, 12/01/2032 (p)		125		130
Series A, Rev., 5.00%, 12/01/2033 (p)		60		63
Alaska Housing Finance Corp., General Mortgage, Series B, Rev., 3.25%, 12/01/2044		1,915		1,889
Alaska Housing Finance Corp., Social Bonds State Capital,
Rev., 5.00%, 06/01/2032 (w)		920		1,032
Rev., 5.00%, 12/01/2032 (w)		945		1,058
Northern Tobacco Securitization Corp., Senior, Series B2, Rev., Zero Coupon, 06/01/2066		9,475		1,016


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Alaska — continued
State of Alaska International Airports System, Series C, Rev., AMT, 5.00%, 10/01/2030		5,000		5,531


				10,719

Arizona — 1.9%
Arizona Board of Regents, Series A, Rev., 5.00%, 07/01/2043		2,480		2,728
Arizona Health Facilities Authority, Banner Health, Series A, Rev., 5.00%, 01/01/2044 (p)		1,055		1,103
Arizona Health Facilities Authority, Scottsdale Lincoln Hospital Project, Rev., 5.00%, 12/01/2029		2,705		2,807
Arizona Industrial Development Authority,
Series 2019-2, Rev., 3.63%, 05/20/2033		1,192		1,176
Series A, Rev., 4.00%, 09/01/2035		225		223
Series A, Rev., 4.00%, 09/01/2036		250		246
Arizona Industrial Development Authority, GreatHearts Arizona Project,
Series A, Rev., 5.00%, 07/01/2024		125		131
Series A, Rev., 5.00%, 07/01/2026		125		134
Arizona Industrial Development Authority, Jerome Facilities Project, Series B, Rev., 4.00%, 07/01/2051		2,000		1,638
Arizona Industrial Development Authority, Macombs Facilities Project, Series A, Rev., 4.00%, 07/01/2061		1,000		784
Arizona Industrial Development Authority, Phoenix Children’s Hospital,
Rev., 5.00%, 02/01/2032		1,375		1,566
Rev., 5.00%, 02/01/2033		2,000		2,231
Arizona Industrial Development Authority, Somerset Academy of Las Vegas, Aliante,
Rev., 3.00%, 12/15/2031 (e)		525		449
Rev., 4.00%, 12/15/2041 (e)		500		428
Rev., 4.00%, 12/15/2051 (e)		700		559
Arizona State University,
Series A, Rev., 5.00%, 07/01/2043		1,105		1,203
Series B, Rev., VRDO, 0.89%, 07/07/2022 (z)		1,910		1,910
Series C, Rev., 5.00%, 07/01/2042		2,000		2,126
Arizona State University, Board of Regents,
Series B, Rev., 5.00%, 07/01/2026		100		109
Series B, Rev., 5.00%, 07/01/2042		2,000		2,144
Chandler Industrial Development Authority, Intel Corp. Project, Rev., 2.40%, 12/01/2035 (z)		775		777
City of Bullhead Excise Taxes Revenue, Second Series, Rev., 0.60%, 07/01/2024		250		238
City of Phoenix Civic Improvement Corp.,
Series A, Rev., 5.00%, 07/01/2029		1,000		1,122
Series A, Rev., 5.00%, 07/01/2031		2,000		2,223
Series A, Rev., 5.00%, 07/01/2032		1,000		1,108
Series A, Rev., 5.00%, 07/01/2034		1,600		1,844


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Arizona — continued
City of Phoenix Civic Improvement Corp., Junior Lien,
Series A, Rev., 5.00%, 07/01/2026		500		553
Series A, Rev., 5.00%, 07/01/2029		1,515		1,746
City of Phoenix, Civic Improvement Corp.,
Series A, Rev., 5.00%, 07/01/2034		2,185		2,408
Series B, Rev., 5.00%, 07/01/2024		130		138
City of Phoenix, Civic Improvement Corp., Airport Revenue, Junior Lien,
Series A, Rev., 5.00%, 07/01/2044		1,000		1,062
Series B, Rev., AMT, 5.00%, 07/01/2027		1,500		1,637
Series B, Rev., AMT, 5.00%, 07/01/2033		2,000		2,144
Industrial Development Authority of the County of Pima (The), American Leadership Academy,
Rev., 4.00%, 06/15/2023 (e)		1,290		1,293
Rev., 4.00%, 06/15/2025 (e)		2,555		2,551
Rev., 4.00%, 06/15/2027 (e)		2,680		2,630
Rev., 4.00%, 06/15/2030 (e)		1,510		1,436
Industrial Development Authority of the County of Pima (The), Tucson Medical Center, Rev., 4.00%, 04/01/2035		825		814
Industrial Development Authority of the County of Yavapai, Waste Management, Inc. Project, Rev., AMT, 1.30%, 06/01/2027		3,260		2,829
Kyrene Elementary School District No. 28, School Improvement Project 2010,
Series B, GO, 4.50%, 07/01/2024		315		324
Series B, GO, 4.50%, 07/01/2025		255		262
Maricopa County Pollution Control Corp., Southern California Edison, Rev., 2.40%, 06/01/2035		1,000		776
Maricopa County Special Health Care District, Series C, GO, 4.00%, 07/01/2037		21,910		22,335
Northern Arizona University, Speed Stimulus Plan Economic Education, Rev., 5.00%, 08/01/2032 (p)		3,145		3,254
Salt River Project Agricultural Improvement & Power, Series A, Rev., 5.00%, 12/01/2045		7,300		7,681
Salt River Project Agricultural Improvement & Power District, Salt River Project, Series A, Rev., 5.00%, 01/01/2026		3,000		3,282
Salt Verde Financial Corp., Rev., 5.00%, 12/01/2032		420		453
Salt Verde Financial Corp., Senior, Rev., 5.50%, 12/01/2029		1,475		1,640
Tempe Industrial Development Authority, Friendship Village Of Tempe, Rev., 1.13%, 12/01/2026		3,350		2,897


				95,152


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Arkansas — 0.0% (g)
Arkansas Development Finance Authority Public Safety Charges Revenue, Division of Emergency Management Project, Rev., 5.00%, 06/01/2024		1,000		1,054
Arkansas Development Finance Authority, Big River Steel Project, Rev., AMT, 4.50%, 09/01/2049 (e)		630		606


				1,660

California — 9.3%
Alameda County, Oakland Unified School District,
GO, 5.00%, 08/01/2027		65		71
Series A, GO, 5.00%, 08/01/2040 (p)		300		326
Anaheim Housing & Public Improvements Authority,
Series A, Rev., 5.00%, 10/01/2035		250		266
Series A, Rev., 5.00%, 10/01/2050		1,780		1,874
Anaheim Public Financing Authority, Senior Public Improvement Project, Series A, Rev., BAM, 5.00%, 09/01/2036		2,250		2,439
Bay Area Toll Authority, San Francisco Bay Area,
Rev., 2.00%, 04/01/2053 (z)		2,200		2,173
Series C, Rev., (SIFMA Municipal Swap Index + 0.45%), 1.36%, 04/01/2056 (aa)		2,675		2,620
Bay Area Toll Authority, San Francisco Bay Area Toll, Rev., (SIFMA Municipal Swap Index + 0.41%), 1.32%, 04/01/2056 (aa)		5,000		4,833
Bay Area Toll Authority, Subordinated, Series S4, Rev., 5.00%, 04/01/2031 (p)		4,000		4,102
Cabrillo Unified School District, Election 2018, Series B, GO, 5.00%, 08/01/2050		5,000		5,394
California Community Choice Financing Authority, Series B1, Rev., 4.00%, 02/01/2052 (z)		13,000		12,991
California Community Choice Financing Authority, Green Bond, Series A1, Rev., 4.00%, 05/01/2053 (w) (z)		6,860		6,937
California County, Tobacco Securitization Agency, Series A, Rev., 5.00%, 06/01/2027		10		11
California County, Tobacco Securitization Agency, Senior Bonds, Merced County Tobacco Funding Corporation,
Rev., 5.00%, 06/01/2032		340		367
Rev., 5.00%, 06/01/2033		170		183
California County, Tobacco Securitization Agency, Sonoma County Securitization,
Rev., 5.00%, 06/01/2031		255		277
Rev., 5.00%, 06/01/2032		250		270
Rev., 5.00%, 06/01/2033		300		322
Rev., 5.00%, 06/01/2049		325		332


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

California — continued
California Educational Facilities Authority, Loyola Marymount University, Series A, Rev., NATL, Zero Coupon, 10/01/2037		340		186
California Educational Facilities Authority, University Southern California, Series C, Rev., 5.25%, 10/01/2024 (p)		210		225
California Health Facilities Financing Authority, Rev., 5.00%, 10/01/2039 (p) (z)		945		1,029
California Health Facilities Financing Authority, Adventist Health System, Rev., 3.00%, 03/01/2041 (z)		1,860		1,866
California Health Facilities Financing Authority, Cedars Sinai Health System, Rev., 4.00%, 08/15/2040		4,050		4,045
California Health Facilities Financing Authority, Children’s Hospital, Rev., 4.00%, 11/01/2035		1,460		1,464
California Health Facilities Financing Authority, City of Hope, Rev., 5.00%, 11/15/2049		3,000		3,057
California Health Facilities Financing Authority, Commonspirit Health,
Series A, Rev., 4.00%, 04/01/2038		3,500		3,384
Series A, Rev., 5.00%, 04/01/2033		3,000		3,269
California Health Facilities Financing Authority, PIH Health, Series A, Rev., 5.00%, 06/01/2035		3,010		3,277
California Health Facilities Financing Authority, Stanford Health Care, Series A, Rev., 5.00%, 11/15/2030		2,000		2,202
California Health Facilities Financing Authority, Sutter Health, Series A, Rev., 5.00%, 08/15/2043 (p)		465		504
California Health Facilities Financing Authority, Unrefunded, Rev., 5.00%, 10/01/2039 (z)		1,055		1,130
California Housing Finance Agency, Series 2021-1, Rev., 3.50%, 11/20/2035		3,746		3,495
California Housing Finance Agency, Rev., 3.25%, 08/20/2036		4,277		3,895
California Infrastructure & Economic Development Bank, Brightline West Passenger Rail Project, Rev., AMT, 0.85%, 01/01/2050 (e) (z)		5,000		4,933
California Infrastructure & Economic Development Bank, J. Paul Getty Trust, Rev., 3.00%, 10/01/2047 (z)		1,000		1,015
California Infrastructure & Economic Development Bank, Los Angeles County, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 1.61%, 12/01/2050 (aa)		1,370		1,351


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — continued
California Infrastructure & Economic Development Bank, Sanford Consortium Project, Series A, Rev., 5.00%, 05/15/2031		1,230		1,333
California Municipal Finance Authority, Open Door Community Health Center,
Rev., 4.00%, 09/15/2034		920		956
Rev., 4.00%, 09/15/2035		960		983
Rev., 4.00%, 09/15/2036		1,000		1,009
California Municipal Finance Authority, Palomar Health, COP, 5.00%, 11/01/2027 (e)		445		476
California Municipal Finance Authority, Republic Services, Inc. Project, Series B, Rev., AMT, 0.38%, 07/01/2051 (z)		1,015		1,015
California Municipal Finance Authority, Simpson University, Series A, Rev., 6.00%, 10/01/2050 (e)		2,000		2,050
California Municipal Finance Authority, Southern California Institute, Rev., 5.00%, 12/01/2037		745		775
California Municipal Finance Authority, Subordinate Caritas Project, Series B, Rev., 4.00%, 08/15/2041		300		255
California Municipal Finance Authority, Taxable Virginia Oceanside Health Care Center, Rev., 3.64%, 07/01/2030 (e)		3,000		2,615
California Municipal Finance Authority, Walnut Apartments, Rev., HUD, 0.45%, 12/01/2024 (z)		1,125		1,089
California Municipal Finance Authority, Waste Management, Inc. Project,
Rev., AMT, 0.70%, 12/01/2044 (z)		1,670		1,618
Rev., AMT, 2.10%, 10/01/2045 (z)		455		455
Series A, Rev., AMT, 2.40%, 10/01/2044 (z)		2,960		2,700
California Pollution Control Financing Authority, Republic Services, Rev., AMT, 2.00%, 08/01/2023 (e) (z)		7,225		7,224
California Public Finance Authority, Enso Village Project, Rev., 2.13%, 11/15/2027 (e)		1,000		929
California Public Finance Authority, Enso Village Project, Green Bond, Rev., 5.00%, 11/15/2036 (e)		325		320
California Public Finance Authority, Henry Mayo Newhall Hospital,
Rev., 5.00%, 10/15/2030		1,165		1,223
Rev., 5.00%, 10/15/2032		1,000		1,039
Series A, Rev., 4.00%, 10/15/2022		110		111
Series A, Rev., 4.00%, 10/15/2023		130		133
California School Finance Authority, Rocketship Education Obligated, Series A, Rev., 5.00%, 06/01/2034 (e)		1,230		1,256


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

California — continued
California State Public Works Board, Corrections Facilities, Series A, Rev., 5.00%, 09/01/2039		7,560		7,907
California State Public Works Board, Davidson Library, Series C, Rev., 5.00%, 03/01/2031 (p)		110		112
California State Public Works Board, Forward Delivery, Series A, Rev., 5.00%, 02/01/2030		2,500		2,888
California State Public Works Board, Various Capital Projects, Series D, Rev., 4.00%, 11/01/2037		1,000		995
California State Public Works Board, Various Purpose, Series A, Rev., 5.00%, 08/01/2034		500		570
California State University, Series A, Rev., 5.00%, 11/01/2044		2,640		2,858
California State University, Systemwide, Series A, Rev., 4.00%, 11/01/2035		1,000		1,011
California State University, Unrefunded Systemwide, Rev., 5.00%, 11/01/2039 (p)		4,700		5,019
California Statewide Communities Development Authority, Series B, Special Assessment, 4.00%, 09/02/2040		570		514
California Statewide Communities Development Authority, Health Facility, Dignity Health, Rev., AGM, 0.88%, 07/01/2041 (z)		2,000		2,000
California Statewide Communities Development Authority, Loma Linda University Medical Center,
Rev., 5.25%, 12/01/2044		6,065		6,092
Rev., 5.50%, 12/01/2054		1,100		1,113
Series A, Rev., 5.00%, 12/01/2026 (e)		300		313
California Statewide Communities Development Authority, Montage Health, Series A, Rev., 4.00%, 06/01/2028		435		467
California Statewide Communities Development Authority, South California Edison Co., Rev., 2.63%, 11/01/2033 (z)		275		272
California Statewide Communities Development Authority, Villa Del Sol Apartments, Rev., 0.39%, 10/01/2023 (z)		50		49
California Statewide Communities Development Authority, Washington Court Apartments, Rev., HUD, 0.22%, 08/01/2023 (z)		260		260
Chino Valley Unified School District, Election Of 2016, Series C, GO, Zero Coupon, 08/01/2034		125		78
City & County of San Francisco,
Series D1, GO, 4.00%, 06/15/2041		1,215		1,225


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — continued
Series R2, GO, 5.00%, 06/15/2023		85		88
Series R2, GO, 5.00%, 06/15/2024		1,000		1,057
City & County of San Francisco Special Tax District No. 2020-1, Mission Rock Facilities And Services, Special Tax, 4.00%, 09/01/2036 (e)		155		145
City & County of San Francisco, 49 South Van Ness Project, Green Bond, Series A, COP, 4.00%, 04/01/2035		810		821
City & County of San Francisco, Special Tax District No. 2020-1, Mission Rock Facilities and Services, Special Tax, 4.00%, 09/01/2031 (e)		300		291
City of Dixon, Community Facilities District Improvement, Special Tax, 4.00%, 09/01/2036		200		191
City of Long Beach Airport System Revenue,
Series C, Rev., AGM, AMT, 5.00%, 06/01/2042		1,000		1,065
Series C, Rev., AGM, AMT, 5.25%, 06/01/2047		1,000		1,075
City of Los Angeles Department of Airports, Los Angeles International Airport,
Rev., 5.00%, 05/15/2026		1,500		1,629
Series B, Rev., 5.00%, 05/15/2046		21,965		22,588
City of Los Angeles Department of Airports, Los Angeles International Airport, Rev., AMT, 5.00%, 05/15/2032		1,000		1,094
City of Los Angeles Department of Airports, Private Activity, Series A, Rev., AMT, 5.00%, 05/15/2045		5,000		5,354
City of Los Angeles Department of Airports, Senior,
Series A, Rev., AMT, 4.75%, 05/15/2040		2,415		2,454
Series C, Rev., AMT, 5.00%, 05/15/2036		4,090		4,464
City of Los Angeles Department of Airports, Subordinate,
Series C, Rev., 5.00%, 05/15/2038		2,000		2,086
Series D, Rev., AMT, 5.00%, 05/15/2027		2,605		2,874
Series D, Rev., AMT, 5.00%, 05/15/2029		4,485		5,012
City of Los Angeles Department of Airports, Subordinate Los Angeles International Airport, Rev., AMT, 5.00%, 05/15/2029		1,000		1,117
City of Los Angeles Department of Airports, Subordinate P3 Project,
Series A, Rev., AMT, 5.00%, 05/15/2026		1,180		1,282
Series A, Rev., AMT, 5.00%, 05/15/2046		3,000		3,188
City of Los Angeles Department of Airports, Subordinated,
Series C, Rev., AMT, 5.00%, 05/15/2033		1,330		1,423
Series E, Rev., 5.00%, 05/15/2039		1,510		1,628
Series E, Rev., 5.00%, 05/15/2044		1,000		1,070


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

California — continued
City of Los Angeles Wastewater System Revenue, Subordinate, Series C, Rev., 5.00%, 06/01/2026		500		552
City of Los Angeles, Department of Airports, Los Angeles International Airport, Rev., AMT, 5.00%, 05/15/2023		150		154
City of Los Angeles, Department of Airports, Senior, Series B, Rev., 5.00%, 05/15/2034		1,600		1,801
City of Roseville, Special Tax, 5.00%, 09/01/2035		1,160		1,226
4.00%, 09/01/2040		1,000		919
City of San Francisco CA Public Utilities Commission Water Revenue, Regional Water, Series B, Rev., 5.00%, 11/01/2050		4,235		4,519
City of Santa Rosa Wastewater Revenue, Series A, Rev., 5.00%, 09/01/2033		1,770		2,026
City of Victorville Electric Revenue,
Series A, Rev., 5.00%, 05/01/2038		1,055		1,126
Series A, Rev., 5.00%, 05/01/2039		1,110		1,184
City of Woodland, Facilities District Number 2004 1 Capital Project, Special Tax, 4.00%, 09/01/2041		500		476
Coachella Valley Water District Drinking Water System Revenue, Notes, Series A, Rev., 1.38%, 06/01/2025		2,000		1,930
Coast Community College District, Series F, GO, 4.00%, 08/01/2022		100		100
Compton Community Redevelopment Agency Successor Agency, Series A, Tax Allocation, AGM, 5.00%, 08/01/2042		750		800
Compton Unified School District, Series B, GO, BAM, Zero Coupon, 06/01/2036		1,400		776
County of Los Angeles Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2033 (w)		105		112
County of Los Angeles, Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2042 (w)		540		552
CSCDA Community Improvement Authority, Series A, Rev., 5.00%, 01/01/2054 (e)		3,295		3,064
CSCDA Community Improvement Authority, Renaissance at City Center, Series A, Rev., 5.00%, 07/01/2051 (e)		215		201
CSCDA Community Improvement Authority, Social Bonds, Rev., 4.00%, 08/01/2056 (e)		410		335
Department of Veterans Affairs, Veteran’s Farm & Home Purchase Program, Series A, Rev., 3.00%, 12/01/2050		945		929
East Bay Municipal Utility District Water System Revenue, Green Bond, Series A, Rev., 5.00%, 06/01/2035		1,200		1,314


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — continued
East Side Union High School District, 2008 Election, Series D, GO, 5.00%, 08/01/2037 (p)		1,000		1,003
Eastern Municipal Water District, Series A, Rev., 3.00%, 07/01/2024		30		31
Elk Grove Finance Authority, Special Tax, 4.00%, 09/01/2040		1,280		1,183
FHLMC Multifamily ML Certificates, Series 2021-ML10, Class AUS, Rev., 2.03%, 01/25/2038 (e)		342		282
Fontana Public Facilities Financing Authority,
Series A, Special Tax, 4.00%, 09/01/2022		95		95
Series A, Special Tax, 4.00%, 09/01/2023		145		149
Fresno Unified School District,
Series D, GO, 2.00%, 08/01/2023		20		20
Series D, GO, 2.00%, 08/01/2024		100		100
Gilroy School Facilities Financing Authority, General Obligations, Series A, Rev., 5.00%, 08/01/2046 (p)		5,000		5,177
Golden State Tobacco Securitization Corp., Subordinate, Series B2, Rev., Zero Coupon, 06/01/2066		16,020		1,570
Golden State Tobacco Securitization Corp., Taxable Tobacco Settlement Asset Backed Bonds, Series C, Rev., 2.75%, 06/01/2034		1,900		1,638
Los Angeles County Development Authority, Sunny Garden Apartments, Rev., HUD, 0.20%, 07/01/2024 (z)		155		154
Los Angeles County Metropolitan Transportation Authority, Series A, Rev., 5.00%, 06/01/2023		25		26
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Green Bond Measure R, Rev., 5.00%, 06/01/2027		1,000		1,126
Los Angeles County Metropolitan Transportation Authority, Measure R Junior Subordinated, Green Bonds, Series A, Rev., 5.00%, 06/01/2034		7,000		7,699
Los Angeles County Metropolitan Transportation Authority, Measure R Junior, Green Bond, Subordinated, Series A, Rev., 5.00%, 06/01/2033		2,000		2,307
Los Angeles County Sanitation Districts Financing Authority, Series A, Rev., 4.00%, 10/01/2033		1,000		1,029
Los Angeles County, Metropolitan Transportation Authority, Green Bond, Measure R Junior Subordinated, Series A, Rev., 5.00%, 06/01/2030		3,000		3,514
Los Angeles Department of Water,
Series B, Rev., 4.00%, 07/01/2027		1,500		1,617
Series B, Rev., 4.00%, 07/01/2029		1,000		1,076
Series B, Rev., 5.00%, 07/01/2037		740		815


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

California — continued
Los Angeles Department of Water & Power,
Series B, Rev., 5.00%, 07/01/2039		500		570
Series C, Rev., 5.00%, 07/01/2038		275		313
Los Angeles Department of Water & Power, Power System Revenue,
Series A, Rev., 5.25%, 07/01/2049		9,500		10,410
Series B, Rev., 5.00%, 07/01/2038		1,000		1,076
Los Angeles Unified School District,
Series C, GO, 5.00%, 07/01/2025		5,000		5,418
Series C, GO, 5.00%, 07/01/2026		2,285		2,524
Series C, GO, 5.00%, 07/01/2028		1,000		1,136
Series RYQ, GO, 5.00%, 07/01/2035		1,280		1,440
Los Angeles Unified School District, Election 2008, Series B1, GO, BAM, 5.00%, 07/01/2029		100		112
Metropolitan Water District of Southern California,
Rev., 5.00%, 01/01/2038		3,015		3,331
Series A1, Rev., VRDO, 0.50%, 07/01/2022 (z)		2,050		2,050
Municipal Improvement Corp. of Los Angeles, Real Property, Series B, Rev., 5.00%, 11/01/2039		2,535		2,866
Natomas Unified School District,
Series A, GO, AGM, 4.00%, 08/01/2045		7,740		7,627
Series A, GO, AGM, 4.00%, 08/01/2049		2,655		2,586
Norman Y Mineta San Jose International Airport SJC,
Series A, Rev., AMT, 5.00%, 03/01/2023 (p)		100		102
Series A, Rev., AMT, 5.00%, 03/01/2031		1,000		1,103
Series A, Rev., AMT, 5.00%, 03/01/2032		2,000		2,189
Ontario International Airport Authority, Series A, Rev., AGM, 5.00%, 05/15/2046		1,500		1,617
Orange County Sanitation District, Series A, Rev., 5.00%, 02/01/2036		1,230		1,417
Orange County Transportation Authority, 405 Improvement Project, Rev., BAN, 5.00%, 10/15/2024		3,230		3,448
Oxnard Union High School District, Series B, GO, 5.00%, 08/01/2045		3,000		3,258
Palomar Health, Rev., 5.00%, 11/01/2039		4,000		4,114
Palomar Health, Capital Appreciation Electric Of 2004, Series A, GO, AGC, Zero Coupon, 08/01/2031		330		230
Palomar Health, Capital Appreciation, Electric Of 2004, Series A, GO, AGC, Zero Coupon, 08/01/2028		500		401
Port of Oakland, Intermediate Lien,
Series H, Rev., AMT, 5.00%, 05/01/2027		2,500		2,734
Series H, Rev., AMT, 5.00%, 05/01/2028		1,875		2,056
Series H, Rev., AMT, 5.00%, 05/01/2029		405		447
Sacramento City Unified School District, GO, BAM, 5.00%, 07/01/2031 (w)		525		598


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — continued
Sacramento City Unified School District, Election Of 2020 Measure,
GO, BAM, 5.00%, 08/01/2024 (w)		860		907
GO, BAM, 5.00%, 08/01/2038 (w)		500		550
Sacramento County Sanitation Districts Financing Authority, Series A, Rev., 5.00%, 12/01/2044		4,250		4,438
Sacramento Municipal Utility District, Electric, Series H, Rev., 4.00%, 08/15/2040		2,000		1,980
San Bernardino Community College District, Election Of 2018, Series A, GO, 3.00%, 08/01/2041 (p)		2,000		2,082
San Diego Community College District,
GO, 4.00%, 08/01/2032 (p)		2,910		3,111
GO, 5.00%, 08/01/2025 (p)		1,000		1,003
San Diego County Regional Airport Authority, Subordinate, Series B, Rev., AMT, 4.00%, 07/01/2036		1,090		1,063
San Diego County Regional Airport Authority, Subordinate Airport Revenue Bonds,
Rev., 5.00%, 07/01/2026		2,120		2,312
Rev., 5.00%, 07/01/2027		2,000		2,207
San Diego County Regional Airport Authority, Subordinated,
Rev., 5.00%, 07/01/2034		1,000		1,104
Series B, Rev., AMT, 5.00%, 07/01/2031		775		823
San Diego County Regional Transportation Commission, Series A, Rev., 5.00%, 10/01/2022		3,000		3,028
San Diego Public Facilities Financing Authority, Series A, Rev., 5.00%, 05/15/2039		1,565		1,670
San Diego Unified School District, Series L2, GO, 4.00%, 07/01/2022		1,350		1,350
San Dieguito School Facilities Financing Authority, Special Tax, 5.00%, 03/01/2031		1,030		1,148
San Francisco Bay Area Rapid Transit District, Election 2004, Green Bond, GO, 5.00%, 08/01/2036		1,875		2,048
San Francisco City & County Airport Commission-San Francisco International Airport,
Series H, Rev., AMT, 5.00%, 05/01/2025		1,500		1,597
Series H, Rev., AMT, 5.00%, 05/01/2028		3,000		3,287
San Francisco City & County Airport Commission-San Francisco International Airport, Unrefunded, Rev., AMT, 5.00%, 05/01/2027		775		842
San Francisco City & County Airport Comm-San Francisco International Airport,
Series A, Rev., AMT, 5.00%, 05/01/2025		2,000		2,130
Series A, Rev., AMT, 5.00%, 05/01/2030		2,000		2,208
Series A, Rev., 5.00%, 05/01/2031		205		218


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

California — continued
Series A, Rev., AMT, 5.00%, 05/01/2032		2,000		2,200
Series C, Rev., 5.00%, 05/01/2046		1,920		1,996
San Joaquin Hills Transportation Corridor Agency, Senior Lien Toll Road, Rev., 4.00%, 01/15/2034		3,000		2,934
San Jose Unified School District, Taxable, GO, 1.01%, 08/01/2027		1,700		1,504
Santa Clara Valley Water District, Water System Utility Improvement, COP, 5.00%, 06/01/2038		2,495		2,803
Santaluz Community Facilities District No. 2,
Special Tax, 3.00%, 09/01/2022		245		246
Special Tax, 3.00%, 09/01/2023		250		253
Special Tax, 3.00%, 09/01/2024		95		97
Sierra View Local Health Care District, Tulare Co.,
Rev., 4.00%, 07/01/2022		460		460
Rev., 4.00%, 07/01/2024		475		487
South San Francisco Public Facilities Financing Authority, Multiple Capital Projects at Orange Memorial Park, Rev., 5.25%, 06/01/2046		1,000		1,113
Southern California Public Power Authority, Canyon Power Project, Series A, Rev., 5.00%, 07/01/2034		1,000		1,061
Southern California Public Power Authority, Green Bond Milford Wind Co.,
Rev., 5.00%, 07/01/2024		40		42
Rev., 5.00%, 07/01/2025		250		271
State of California,
GO, 4.00%, 03/01/2036		4,000		4,033
GO, 4.00%, 11/01/2041		1,000		1,001
GO, 5.00%, 12/01/2026		4,000		4,457
GO, 5.00%, 04/01/2027		145		163
GO, 5.00%, 04/01/2029		80		92
GO, 5.00%, 09/01/2029		1,000		1,158
GO, 5.00%, 11/01/2029		13,215		15,329
GO, 5.00%, 12/01/2029		700		813
GO, 5.00%, 12/01/2030		55		64
GO, 5.00%, 09/01/2031		1,500		1,767
GO, 5.00%, 03/01/2035		1,020		1,158
GO, 5.00%, 10/01/2047		1,500		1,580
State of California, Taxable Bidding Group A, GO, 1.75%, 10/01/2028		5,000		4,451
State of California, Various Purpose,
GO, 4.00%, 11/01/2033		3,550		3,631
GO, 4.00%, 10/01/2035		2,825		2,870
GO, 4.00%, 10/01/2036		8,850		8,933
GO, 5.00%, 10/01/2029		2,000		2,318
GO, 5.00%, 10/01/2030		115		134
GO, 5.00%, 04/01/2031		1,000		1,173
GO, 5.00%, 03/01/2033		500		574
GO, 5.00%, 03/01/2034		2,180		2,488
GO, 5.00%, 03/01/2035		505		573
GO, 5.00%, 04/01/2035		1,000		1,122


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
California — continued
State of California, Veterans Bonds, GO, 5.00%, 12/01/2031		5,500		5,790
Tender Option Bond Trust Receipts/ Certificates, Series 2017-XF0568, Rev., LIQ: Bank of America NA, 0.00%, 04/01/2049 (e) (z)		4,000		4,000
University of California,
Series AR, Rev., 5.00%, 05/15/2041		2,000		2,135
Series BE, Rev., 5.00%, 05/15/2041		1,000		1,109
Series S, Rev., 5.00%, 05/15/2031		1,500		1,756
University of California, Limited Project,
Series K, Rev., 4.00%, 05/15/2046		300		293
Series K, Rev., 5.00%, 05/15/2035		1,980		2,124
Series M, Rev., 4.00%, 05/15/2047		1,300		1,268
University of California, Limited Project Revenue Bonds, Series Q, Rev., 5.00%, 05/15/2032		350		406
Upper Santa Clara Valley Joint Powers Authority,
Series A, Rev., 4.00%, 08/01/2045		1,500		1,485
Series A, Rev., 4.00%, 08/01/2050		2,000		1,958
West Contra Costa Healthcare District, Special Tax, 5.00%, 07/01/2027		805		900


				470,977

Colorado — 2.3%
Adams & Weld Counties School District No. 27J Brighton, GO, 5.00%, 12/01/2042		1,000		1,091
Aerotropolis Regional Transportation Authority, Rev., 4.25%, 12/01/2041		500		417
Alpine Mountain Ranch Metropolitan District Special Improvement District No. 1, Special Assessment, 4.00%, 12/01/2040		500		395
Arapahoe County School District No. 6 Littleton, GO, 5.00%, 12/01/2023		670		699
Brighton Crossing Metropolitan District No. 6, Series A, GO, 5.00%, 12/01/2035		525		517
Castle Oaks Metropolitan District No. 3, GO, AGM, 4.00%, 12/01/2026		220		233
City & County of Denver Airport System Revenue, Subordinate System, Series A, Rev., AMT, 5.00%, 12/01/2034		2,510		2,671
City & County of Denver, Airport System Revenue,
Series A, Rev., AMT, 5.00%, 11/15/2027		1,000		1,102
Series A, Rev., AMT, 5.00%, 12/01/2030		3,000		3,322
Series B2, Rev., AMT, 5.00%, 11/15/2031 (z)		1,000		1,076
City & County of Denver, Airport System Revenue, Subordinated, Series A, Rev., AMT, 5.00%, 12/01/2027		5,840		6,395
City & County of Denver, Airport System Revenue, Subordinated System, Series A, Rev., AMT, 5.00%, 12/01/2043		3,000		3,130


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Colorado — continued
City of Aurora, Water Revenue, Green Bond, Rev., 5.00%, 08/01/2041 (p)		1,800		1,993
Colorado Bridge Enterprise, Central 70 Project,
Rev., AMT, 4.00%, 12/31/2025		1,000		1,038
Rev., AMT, 4.00%, 12/31/2030		1,505		1,556
Colorado Educational & Cultural Facilities Authority, Aspen View Academy Project,
Rev., 4.00%, 05/01/2036		175		159
Rev., 4.00%, 05/01/2041		175		153
Colorado Health Facilities Authority, AdventHealth Obligated Group,
Rev., 4.00%, 11/15/2038		2,000		1,979
Rev., 5.00%, 11/15/2038		1,000		1,092
Colorado Health Facilities Authority, Children’s Hospital, Series C, Rev., 5.00%, 12/01/2030		1,000		1,053
Colorado Health Facilities Authority, Children’s Hospital Co. Project, Series A, Rev., 5.00%, 12/01/2033		3,765		3,858
Colorado Health Facilities Authority, Commonspirit Health,
Series A1, Rev., 5.00%, 08/01/2027		1,025		1,099
Series A1, Rev., 5.00%, 08/01/2034		1,240		1,306
Series A2, Rev., 5.00%, 08/01/2028		2,215		2,381
Series A2, Rev., 5.00%, 08/01/2044		8,615		8,801
Colorado Health Facilities Authority, Improvement Bonds Christian Living Communities, Rev., 4.00%, 01/01/2042		500		409
Colorado Health Facilities Authority, Sanford Health, Series A, Rev., 5.00%, 11/01/2029		1,000		1,100
Colorado Health Facilities Authority, SCL Health System, Series A, Rev., 5.00%, 01/01/2030		1,175		1,341
Colorado Housing and Finance Authority, Series H, Rev., GNMA COLL, 3.00%, 05/01/2050		2,285		2,254
Colorado Housing and Finance Authority, Social Bonds,
Series E, Rev., GNMA, 3.00%, 11/01/2051		3,140		3,074
Series L, Rev., GNMA COLL, 3.25%, 11/01/2051		1,685		1,658
Colorado Housing and Finance Authority, Social Bonds Class I, Series H, Rev., GNMA, 3.00%, 11/01/2051		1,380		1,348
Copperleaf Metropolitan District No. 2,
GO, BAM, 4.00%, 12/01/2023		305		314
GO, BAM, 4.00%, 12/01/2025		470		495
Crystal Valley, Metropolitan District No. 2,
Series A, GO, AGM, 5.00%, 12/01/2028		500		566
Series A, GO, AGM, 5.00%, 12/01/2029		405		463
Series A, GO, AGM, 5.00%, 12/01/2030		360		416


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Colorado — continued
Denver City & County, School District No. 1, GO, 5.00%, 12/01/2029		1,000		1,106
Denver Convention Center Hotel Authority, Senior, Rev., 5.00%, 12/01/2036		1,320		1,349
Denver Urban Renewal Authority, Senior Subordinated Stapleton, Series B, Tax Allocation, 5.00%, 12/01/2025		500		543
E-470 Public Highway Authority, Series B, Rev., (United States SOFR * 0.67 + 0.35%), 1.36%, 09/01/2039 (aa)		1,485		1,464
E-470 Public Highway Authority, Capital Appreciation School Reform, Series B, Rev., NATL, Zero Coupon, 09/01/2030		290		214
E-470 Public Highway Authority, Senior,
Series A, Rev., 5.00%, 09/01/2027		1,000		1,115
Series A, Rev., 5.00%, 09/01/2028		1,000		1,125
Series A, Rev., 5.00%, 09/01/2040		2,775		2,897
Great Western Metropolitan District, GO, 4.75%, 12/01/2050		500		442
Jefferson Center Metropolitan District No. 1,
Series A2, Rev., 4.13%, 12/01/2040		575		503
Series A2, Rev., 4.38%, 12/01/2047		795		683
Jefferson County School District, Series R1, GO, 5.00%, 12/15/2031		2,000		2,260
Poudre Tech Metropolitan District, GO, AGM, 3.00%, 12/01/2022		420		422
Public Authority for Colorado Energy, Rev., 6.50%, 11/15/2038		3,000		3,685
Pueblo Urban Renewal Authority, EVRAZ Project Tax Increment, Tax Allocation, 4.75%, 12/01/2045 (e)		635		569
Regional Transportation District, Denver Transit Partners Eagle,
Series A, Rev., 5.00%, 07/15/2026		575		603
Series A, Rev., 5.00%, 01/15/2027		1,000		1,052
Series A, Rev., 5.00%, 01/15/2032		1,470		1,544
Siena Lake Metropolitan District, GO, 3.75%, 12/01/2041		500		385
South Suburban Park & Recreation District, COP, 4.00%, 12/15/2036		1,350		1,379
Spring Valley Metropolitan District No. 3, Series A, GO, 5.00%, 12/01/2049		1,360		1,220
State of Colorado,
COP, 6.00%, 12/15/2041		15,000		18,323
Series A, COP, 5.00%, 09/01/2026		1,500		1,650
Series A, COP, 5.00%, 12/15/2029		1,000		1,144
Sterling Ranch Metropolitan District No. 1, GO, 5.00%, 12/01/2040		500		482
University of Colorado, University Enterprise, Rev., 2.00%, 06/01/2051 (z)		4,000		3,888
Verve Metropolitan District No. 1, GO, 5.00%, 12/01/2036		1,500		1,483
Village Metropolitan District (The), GO, 4.15%, 12/01/2030		485		466


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Colorado — continued
Villages at Johnstown Metropolitan District No. 3, Senior Bond, Series A, GO, 5.00%, 12/01/2040		585		544
Windler Public Improvement Authority, Series A1, Rev., 4.00%, 12/01/2036		2,565		2,147


				115,641

Connecticut — 1.3%
City of Bridgeport, Series A, GO, 4.00%, 06/01/2039		250		252
Connecticut Housing Finance Authority, Social Bonds, Series A1, Rev., 3.50%, 11/15/2051		70		69
Connecticut State Health & Educational Facilities Authority, Series 2017 B1, Rev., 5.00%, 07/01/2029		4,845		5,605
Connecticut State Health & Educational Facilities Authority, Hartford Healthcare Project,
Series A, Rev., 5.00%, 07/01/2026		555		599
Series A, Rev., 5.00%, 07/01/2033		565		615
Connecticut State Health & Educational Facilities Authority, Stamford Hospital Issue,
Rev., 4.00%, 07/01/2035		1,000		942
Rev., 4.00%, 07/01/2038		2,500		2,272
Rev., 4.00%, 07/01/2041		2,250		2,029
Rev., 5.00%, 07/01/2024		175		182
Rev., 5.00%, 07/01/2030		865		945
Connecticut State Health & Educational Facilities Authority, Yale New Haven, Series B, Rev., 1.80%, 07/01/2049 (z)		4,000		3,946
Connecticut State Health & Educational Facilities Authority, Yale University,
Series A2, Rev., VRDO, 5.00%, 07/01/2022 (z)		2,440		2,440
Series C2, Rev., 5.00%, 07/01/2057 (z)		1,725		1,755
Connecticut State Higher Education Supplement Loan Authority, CHESLA Loan Program, Series B, Rev., AMT, 5.00%, 11/15/2030		500		561
Connecticut State, Health & Educational Facilities Authority, Bridgeport Hospital, Series D, Rev., 5.00%, 07/01/2025		1,940		1,944
Connecticut State, Health & Educational Facilities Authority, Sacred Heart University,
Series K, Rev., 4.00%, 07/01/2045		750		706
Series K, Rev., 5.00%, 07/01/2037		950		1,023
Connecticut State, Health & Educational Facilities Authority, Yale University,
Series A, Rev., 1.10%, 07/01/2048 (z)		1,755		1,744
Series C1, Rev., 5.00%, 07/01/2040 (z)		2,515		2,851


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Connecticut — continued
East Hartford Housing Authority, Veterans Terrace Project, Rev., HUD, 0.25%, 06/01/2023 (z)		25		25
State of Connecticut,
Series 2021A, GO, 3.00%, 01/15/2026		5,000		5,081
Series 2021A, GO, 3.00%, 01/15/2032		2,250		2,172
Series 2021A, GO, 3.00%, 01/15/2033		500		475
Series 2021A, GO, 4.00%, 01/15/2028		3,500		3,732
Series A, GO, 4.00%, 03/15/2032		850		863
Series B, GO, 5.00%, 06/15/2026		1,000		1,076
Series C, GO, 5.00%, 06/15/2037		40		45
State of Connecticut Special Tax Revenue,
Series A, Rev., 5.00%, 05/01/2035		500		563
Series D, Rev., 4.00%, 11/01/2038		3,500		3,502
Series D, Rev., 5.00%, 11/01/2028		1,480		1,682
Series D, Rev., 5.00%, 11/01/2033		1,675		1,913
Series D, Rev., 5.00%, 11/01/2036		840		946
State of Connecticut, Social Bonds, Series B, GO, 4.00%, 01/15/2038		500		500
State of Connecticut, Special Tax Obligation Bonds,
Rev., 5.00%, 05/01/2025		1,150		1,239
Rev., 5.00%, 05/01/2040		300		329
State of Connecticut, Special Tax Revenue, Transportation Infrastructure, Series A, Rev., 5.00%, 09/01/2031		1,220		1,276
Steel Point Infrastructure Improvement District, Steelpointe Harbor Project, Tax Allocation, 4.00%, 04/01/2036 (e)		195		176
Town of Hamden,
GO, BAM, 4.00%, 08/15/2027		535		564
GO, BAM, 5.00%, 08/15/2029		575		639
GO, BAM, 5.00%, 08/15/2031		500		554
Series A, GO, BAM, 5.00%, 08/01/2032		500		543
University of Connecticut,
Series A, Rev., 5.00%, 02/15/2025		2,590		2,772
Series A, Rev., 5.00%, 08/15/2026		1,400		1,441
Series A, Rev., 5.00%, 01/15/2037		3,000		3,213


				65,801

Delaware — 0.5%
Delaware State Economic Development Authority, NRG Energy Project, Rev., 1.25%, 10/01/2045 (z)		4,065		3,786
Delaware State Health Facilities Authority, Christiana Health Care System, Rev., 5.00%, 10/01/2039		5,345		5,769
Delaware Transportation Authority,
Rev., 5.00%, 07/01/2027		1,000		1,124
Rev., 5.00%, 07/01/2033		2,265		2,601
State of Delaware,
GO, 5.00%, 02/01/2028		6,520		7,425
GO, 4.00%, 02/01/2031		1,000		1,073
GO, 5.00%, 02/01/2031		85		100


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Delaware — continued
Series A, GO, 5.00%, 10/01/2024		1,500		1,600


				23,478

District of Columbia — 1.5%
District of Columbia,
Rev., 5.00%, 06/01/2040		1,725		1,756
Series A, Rev., 4.00%, 03/01/2037		2,000		2,027
Series A, Rev., 4.00%, 03/01/2040		10,000		10,143
Series A, Rev., 5.00%, 03/01/2031		1,500		1,704
Series C, Rev., 4.00%, 05/01/2039		2,500		2,525
Series C, Rev., 5.00%, 10/01/2030		3,250		3,703
Series D, GO, 5.00%, 02/01/2028		820		930
Series D, GO, 5.00%, 02/01/2029		70		80
Series D, GO, 5.00%, 02/01/2034		5,000		5,753
Series E, GO, 5.00%, 02/01/2028		110		125
District of Columbia Housing Finance Agency, Kenilworth 166 Apartments, Rev., HUD, 1.25%, 06/01/2025 (z)		3,225		3,106
District of Columbia Water & Sewer Authority, Green Bond Subordinate, Series A, Rev., 5.00%, 10/01/2038		1,010		1,121
District of Columbia Water & Sewer Authority, Subordinate, Series C1, Rev., 5.00%, 10/01/2031		2,000		2,344
District of Columbia, Latin American Montessori, Rev., 4.00%, 06/01/2030		745		732
District of Columbia, National Public Radio,
Rev., 4.00%, 04/01/2032 (p)		1,500		1,593
Rev., 5.00%, 04/01/2028 (p)		270		297
Rev., 5.00%, 04/01/2029 (p)		275		302
District of Columbia, Water & Sewer Authority, Subordinated Lien, Series A, Rev., 5.00%, 10/01/2027		615		619
Metropolitan Washington Airports Authority,
Rev., AMT, 5.00%, 10/01/2026		1,335		1,454
Rev., AMT, 5.00%, 10/01/2029		2,000		2,170
Series A, Rev., AMT, 5.00%, 10/01/2027		1,000		1,101
Series A, Rev., AMT, 5.00%, 10/01/2031		5,000		5,486
Metropolitan Washington Airports Authority Aviation Revenue,
Series A, Rev., AMT, 5.00%, 10/01/2023		85		88
Series A, Rev., AMT, 5.00%, 10/01/2025 (w)		450		483
Series A, Rev., AMT, 5.00%, 10/01/2030		1,000		1,114
Series A, Rev., AMT, 5.00%, 10/01/2032		2,000		2,223
Series A, Rev., AMT, 5.00%, 10/01/2044		3,890		3,997
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Dulles Metrorail & Capital, Rev., AGM, 4.00%, 10/01/2052		5,000		4,654
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Subordinated Dulles Metrorail, Rev., AGM, 4.00%, 10/01/2053		1,965		1,810


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
District of Columbia — continued
Metropolitan Washington Airports Authority, Airport System Revenue, Series A, Rev., AMT, 5.00%, 10/01/2034		395		427
Metropolitan Washington Airports Authority, Dulles Toll Road Revenue, Series B, Rev., 4.00%, 10/01/2049		1,000		891
Metropolitan Washington Airports Authority, Dulles Toll Road Revenue, Second Lien, Series C, Rev., AGC, 6.50%, 10/01/2041 (p)		350		410
Washington Convention & Sports Authority,
Series A, Rev., 4.00%, 10/01/2034		1,015		1,028
Series A, Rev., 4.00%, 10/01/2036		330		328
Series A, Rev., 5.00%, 10/01/2033		1,000		1,140
Washington Convention & Sports Authority, Senior Lien,
Series B, Tax Allocation, 5.00%, 10/01/2029		1,000		1,142
Series B, Tax Allocation, 5.00%, 10/01/2030		1,500		1,728
Washington Metropolitan Area Transit Authority,
Series A, Rev., 5.00%, 07/15/2026		1,650		1,823
Series A, Rev., 5.00%, 07/15/2037		2,000		2,236
Washington Metropolitan Area Transit Authority, Green Bond, Series A, Rev., 5.00%, 07/15/2029		1,540		1,779


				76,372

Florida — 4.3%
Alachua County Health Facilities Authority, Oak Hammock At The University Of Florida, Inc. Project, Rev., 4.00%, 10/01/2031 (w)		615		577
Alachua County, Health Facilities Authority, Shands Teaching Hospital and Clinic, Rev., 5.00%, 12/01/2032		1,000		1,077
Ave Maria Stewardship Community District, Phase 3 Master Improvements Project,
Special Assessment, 2.75%, 05/01/2031		420		349
Special Assessment, 3.13%, 05/01/2041		1,775		1,327
Ave Maria Stewardship Community District, Phase 4 Master Improvement, Special Assessment, BAN, 3.50%, 05/01/2026 (e)		1,000		924
Belmond Reserve Community Development District, 202 Project, Special Assessment, 4.00%, 05/01/2040		345		304
Belmont II Community Development District, 2020 Assessment Area,
Special Assessment, 2.50%, 12/15/2025		20		19
Special Assessment, 3.13%, 12/15/2030		125		108
Boggy Branch Community Development District, Special Assessment, 2.50%, 05/01/2026		295		270


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Florida — continued
Brevard County Health Facilities Authority, Health First, Inc., Rev., 5.00%, 04/01/2025		1,600		1,680
Brevard County Housing Finance Authority, Tropical Manor Apartments, Rev., 0.25%, 12/01/2023 (z)		25		25
Broward County Housing Finance Authority, Solaris Apartments, Series B, Rev., 0.70%, 01/01/2025 (z)		1,470		1,407
Broward County Water & Sewer Utility Revenue, Series A, Rev., 4.00%, 10/01/2038		675		682
Capital Projects Finance Authority, Florida University Project, Series A1, Rev., 5.00%, 10/01/2032		1,350		1,384
Capital Trust Agency, Inc., College Park Towers Apartments, Rev., HUD, 1.25%, 05/01/2024 (z)		7,500		7,441
Capital Trust Agency, Inc., Imagine School at North Manatee, Rev., 5.00%, 06/01/2041 (e)		325		304
Capital Trust Agency, Inc., Liza Jackson Preparatory School, Rev., 5.00%, 08/01/2040		150		154
Capital Trust Agency, Inc., Lutz Preparatory School, Inc. Project, Series A, Rev., 4.00%, 06/01/2041		300		287
Capital Trust Agency, Inc., Tallahassee Classical School, Rev., 4.00%, 07/01/2036 (e)		1,370		1,120
Central Florida Expressway Authority,
Series D, Rev., 5.00%, 07/01/2029		565		643
Series D, Rev., AGM, 5.00%, 07/01/2034		3,000		3,387
Series D, Rev., AGM, 5.00%, 07/01/2035		10,000		11,281
Central Florida Expressway Authority, Senior Lien,
Rev., AGM, 4.00%, 07/01/2038		3,625		3,654
Rev., AGM, 4.00%, 07/01/2039		1,260		1,257
Centre Lake Community Development District, Special Assessment, 3.00%, 05/01/2042		605		439
Chapel Creek Community Development District, Special Assessment, 3.00%, 05/01/2031 (e)		260		223
City of Cape Coral, Water & Sewer Revenue, Rev., 5.00%, 10/01/2029		250		278
City of Gainesville Utilities System Revenue, Series A, Rev., 5.00%, 10/01/2027		2,000		2,249
City of Jacksonville, Series A, Rev., 5.00%, 10/01/2034		1,250		1,416
City of Jacksonville, Brooks Rehabilitation Project,
Rev., 4.00%, 11/01/2034		500		494
Rev., 4.00%, 11/01/2045		1,500		1,344


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Florida — continued
City of Lake Worth Beach Consolidated Utility Revenue,
Rev., BAM, 5.00%, 10/01/2029		1,930		2,148
Rev., BAM, 5.00%, 10/01/2030		2,135		2,383
City of Pompano Beach, John Knox Village Project, Series A, Rev., 4.00%, 09/01/2036		175		158
City of Port St. Lucie Stormwater Utility Revenue, Rev., 4.00%, 05/01/2039		1,075		1,074
City of South Miami, Health Facilities Authority, Inc., Baptist Health South Florida, Rev., 5.00%, 08/15/2023		100		103
City of Tallahassee, Energy System Revenue, Rev., 5.00%, 10/01/2028		2,000		2,257
Collier County Health Facilities Authority, The Moorings, Inc., Rev., 4.00%, 05/01/2052		145		130
County of Broward Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 5.00%, 09/01/2031		3,000		3,379
County of Broward, Airport System Revenue,
Rev., AMT, 5.00%, 10/01/2033		655		693
Series A, Rev., AMT, 5.00%, 10/01/2028		800		879
Series A, Rev., AMT, 5.00%, 10/01/2036		2,000		2,130
County of Broward, Port Facilities Revenue, Senior Bond, Series B, Rev., AMT, 4.00%, 09/01/2044		3,000		2,752
County of Hillsborough, Rev., 4.00%, 08/01/2034		4,370		4,530
County of Lee Airport Revenue,
Series B, Rev., AMT, 5.00%, 10/01/2029		180		198
Series B, Rev., AMT, 5.00%, 10/01/2032		2,000		2,195
County of Miami-Dade Aviation Revenue,
Series A, Rev., 5.00%, 10/01/2025		1,250		1,344
Series A, Rev., AMT, 5.00%, 10/01/2025 (p)		2,250		2,270
Series A, Rev., 5.00%, 10/01/2031		2,000		2,225
Series A, Rev., AMT, 5.00%, 10/01/2044		2,200		2,295
Series B, Rev., AMT, 5.00%, 10/01/2040		7,000		7,274
County of Miami-Dade Seaport Department, Subordinate, Series A1, Rev., AGM, AMT, 4.00%, 10/01/2040		2,675		2,606
County of Miami-Dade, Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2028		7,000		7,263
Series A, Rev., AMT, 5.00%, 10/01/2027 (p)		1,455		1,510
Series A, Rev., AMT, 5.00%, 10/01/2030		2,000		2,075
County of Miami-Dade, Building Better Communities Project, Series A, GO, 4.00%, 07/01/2044		350		335
County of Miami-Dade, Transit System, Sales Tax, Rev., 5.00%, 07/01/2025 (p)		35		35
County of Miami-Dade, Water & Sewer System Revenue,
Series B, Rev., 5.00%, 10/01/2031		500		530


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Florida — continued
Series B, Rev., 5.00%, 10/01/2033		1,000		1,056
Cypress Bluff Community, Development District, Delaware Webb Project, Series A, Special Assessment, 2.70%, 05/01/2025 (e)		115		109
Daytona Beach Housing Authority, The WM at River Project, Rev., 1.25%, 12/01/2025 (z)		115		110
DG Farms Community Development District, Special Assessment, 3.75%, 05/01/2040		400		325
Eden Hills Community Development District, Special Assessment, 4.00%, 05/01/2040		300		265
Epperson North Community Development District, Assessment Area, Special Assessment, 2.50%, 05/01/2026		205		188
Florida Development Finance Corp., Series A, Rev., 4.00%, 06/01/2030		500		468
Florida Development Finance Corp., Brightline Florida Passenger,
Rev., AMT, VRDO, 0.30%, 07/01/2022 (z)		2,555		2,555
Rev., AMT, 6.75%, 12/01/2056 (e)		1,435		1,418
Florida Development Finance Corp., Brightline Florida Passenger Rail, Series B, Rev., AMT, 7.38%, 01/01/2049 (e)		9,500		9,488
Florida Development Finance Corp., Brightline Passenger, Rev., AMT, 2.90%, 12/01/2056 (w) (z)		3,440		3,440
Florida Development Finance Corp., Discovery High School Project, Series A, Rev., 4.00%, 06/01/2030 (e)		1,500		1,411
Florida Development Finance Corp., Mater Academy Project, Series A, Rev., 5.00%, 06/15/2040		400		407
Florida Development Finance Corp., Mayflower Retirement, Rev., 1.75%, 06/01/2026 (e)		510		468
Florida Development Finance Corp., UF Health Jacksonville Project, Rev., 5.00%, 02/01/2035		2,200		2,249
Florida Development Finance Corp., Virgin Trains USA Passenger,
Series A, Rev., AMT, 6.38%, 01/01/2049 (e) (z)		3,225		3,143
Series A, Rev., AMT, 6.50%, 01/01/2049 (e) (z)		2,000		1,913
Florida Housing Finance Corp., Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		625		609
Florida Housing Finance Corp., Social Bond, Social Bond, Series 1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,490		1,459
Florida Housing Finance Corp., Social Bonds,
Series 1, Rev., GNMA/FNMA/FHLMC, 3.50%, 07/01/2052		1,000		993


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Florida — continued
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		7,125		6,995
Florida State Board of Governors Florida International University Dormitory Rev, Series A, Rev., BAM, 5.00%, 07/01/2029		1,900		2,151
Fort Pierce Utilities Authority, Series A, Rev., AGM, 5.00%, 10/01/2039		925		1,028
Greater Orlando Aviation Authority, Series A, Rev., AMT, 5.00%, 10/01/2032		1,500		1,635
Greater Orlando Aviation Authority, Priority Subordinated,
Series A, Rev., AMT, 5.00%, 10/01/2033		1,500		1,587
Series A, Rev., AMT, 5.00%, 10/01/2036		2,230		2,339
Hammock Reserve Community Development District, Assessment Area One Project, Special Assessment, 4.00%, 05/01/2040		545		480
Hillsborough County Aviation Authority, Tampa, Rev., AMT, 5.00%, 10/01/2040 (p)		750		790
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, Series A, Rev., 4.00%, 08/01/2045		3,275		3,039
Hillsborough County, School Board, Master Lease Program, Series A, COP, 5.00%, 07/01/2029 (p)		200		200
JEA Electric System Revenue,
Series 3A, Rev., 5.00%, 10/01/2035		5,000		5,582
Series IIIB, Rev., 5.00%, 10/01/2032		1,295		1,419
JEA Electric System Revenue, Subordinate, Series A, Rev., 5.00%, 10/01/2031		1,795		2,039
JEA Water & Sewer System Revenue, Series A, Rev., 4.00%, 10/01/2037		750		755
JEA Water & Sewer System Revenue, Subordinated, Series A, Rev., 5.00%, 10/01/2031		885		982
Lakewood Ranch Stewardship District, Lorraine Lakes Project, Special Assessment, 3.13%, 05/01/2030 (e)		315		276
Lakewood Ranch Stewardship District, Northeast Sector Project,
Special Assessment, 2.50%, 05/01/2025 (e)		865		814
Special Assessment, 3.20%, 05/01/2030 (e)		545		478
Special Assessment, 3.50%, 05/01/2040		925		738
Lakewood Ranch Stewardship District, Azario Project, Special Assessment, 2.63%, 05/01/2025		425		404
Lee Memorial Health System, Float Mode, Lee Memorial, Rev., VRDO, 1.32%, 07/07/2022 (z)		6,500		6,500
Miami-Dade County Housing Finance Authority, Platform 3750 LLC, Rev., 0.25%, 08/01/2024 (z)		1,525		1,490


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Florida — continued
Miami-Dade County Housing Finance Authority, Sunset Bay Apartments, Rev., 0.25%, 12/01/2023 (z)		80		79
Midtown Miami Community Development District, Series A, Special Assessment, 5.00%, 05/01/2037		350		350
North Powerline Road Community Development District, Special Assessment, 3.63%, 05/01/2040		1,345		1,098
Old Hickory Community Development District, Special Assessment, 2.50%, 06/15/2025		165		156
Orange County Health Facilities Authority, Orlando Health Obligated Group, Rev., 4.00%, 10/01/2052		5,000		4,707
Orange County Health Facilities Authority, Presbyterian Retirement Communities,
Rev., 4.00%, 08/01/2036 (w)		295		271
Rev., 5.00%, 08/01/2047		790		836
Orange County Housing Finance Authority, Stratford Point Apartments, Rev., 0.55%, 01/01/2025 (z)		885		844
Orlando Utilities Commission, Series 2018A, Rev., 5.00%, 10/01/2035		2,480		2,727
Palm Beach County Health Facilities Authority, BRRH Corporation Obligated Group, Rev., 5.00%, 12/01/2024 (p)		1,910		2,040
Palm Beach County Health Facilities Authority, Retirement Life Communities, Rev., 5.00%, 11/15/2032		2,270		2,373
Palm Beach County Housing Finance Authority, Christian Manor, Rev., 1.25%, 02/15/2025 (z)		1,985		1,909
Parkview at Long Lake Ranch Community Development District, Special Assessment, 4.00%, 05/01/2051		800		655
Pasco County School Board, Series A, COP, BAM, 5.00%, 08/01/2036		1,720		1,898
Pine Island Community Development District, Special Assessment, 5.75%, 05/01/2035		2,000		2,004
Pine Ridge Plantation Community Development District, Senior Lien, Series A1, Special Assessment, AGM, 3.00%, 05/01/2023		480		484
Pinellas County Housing Finance Authority, Jordan Park Apartments, Rev., HUD, 0.65%, 01/01/2025 (z)		1,135		1,085
Reunion East Community Development District,
Special Assessment, 2.40%, 05/01/2026		100		92
Special Assessment, 2.85%, 05/01/2031		25		21
Saddle Creek Preserve of Polk County Community Development District, Special Assessment, 4.00%, 06/15/2040		500		441


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Florida — continued
Sarasota County Health Facilities Authority, Sunnyside Village Project, Rev., 5.00%, 05/15/2048		425		433
Sarasota National Community Development District, Special Assessment, 4.00%, 05/01/2039		615		546
Sawyers Landing Community Development District, Special Assessment, 3.75%, 05/01/2031		400		363
Somerset Community Development District, Special Assessment, 4.00%, 05/01/2032		800		754
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.71%, 07/01/2027		4,000		3,618
State of Florida Department of Transportation, Rev., 5.00%, 07/01/2024		430		455
State of Florida Department of Transportation Turnpike System Revenue, Series B, Rev., 5.00%, 07/01/2033		1,000		1,160
State of Florida Department of Transportation Turnpike System Revenue, Turnpike Revenue, Series B, Rev., 3.00%, 07/01/2033		2,390		2,245
State of Florida, Department of Transportation, Turnpike System Revenue,
Series A, Rev., 5.00%, 07/01/2029		500		575
Series B, Rev., 5.00%, 07/01/2023		125		129
Stillwater Community Development District, Project 2021, Special Assessment, 3.00%, 06/15/2031 (e)		225		191
Stoneybrook South Community Development District, Fox South Assessment Area,
Special Assessment, 2.50%, 12/15/2025 (e)		550		513
Special Assessment, 3.00%, 12/15/2030 (e)		475		405
Special Assessment, 3.50%, 12/15/2040 (e)		1,030		823
Storey Park Community Development District, Assessment Area Four Project,
Special Assessment, 2.38%, 06/15/2026 (e)		35		32
Special Assessment, 2.88%, 06/15/2031 (e)		60		50
Towne Park Community Development District, Assessment Area 3D Project, Special Assessment, 2.63%, 05/01/2025 (e)		380		358
Tradition Community Development District No. 9, Special Assessment, 3.00%, 05/01/2041		130		96
Village Community Development District No. 13,
Special Assessment, 1.88%, 05/01/2025 (e)		745		699


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Florida — continued
Special Assessment, 2.63%, 05/01/2030 (e)		1,485		1,294
Villamar Community Development District, Special Assessment, 3.75%, 05/01/2040		655		543
Wildwood Utility Dependent District, Senior South Sumter Utilities Project,
Rev., BAM, 5.00%, 10/01/2031		1,300		1,492
Rev., BAM, 5.00%, 10/01/2033		1,150		1,309
Rev., BAM, 5.00%, 10/01/2039		1,490		1,668
Rev., BAM, 5.00%, 10/01/2040		1,610		1,791
Wildwood Utility Dependent District, Subordinate South Sumter Utilities Project, Rev., BAM, 5.00%, 10/01/2041		650		722


				221,004

Georgia — 3.3%
Atlanta Urban Residential Finance Authority, Sylvan Senior Apartments, Rev., FHA, 0.41%, 12/01/2025 (z)		575		557
Bartow County Development Authority, Georgia Power Co. Pollution Bowen Project, Rev., 1.80%, 09/01/2029 (z)		4,425		3,931
Board of Water Light & Sinking Fund Commissioners of The City of Dalton, Combined Utilities Revenue Bonds,
Rev., 4.00%, 03/01/2035		1,100		1,100
Rev., 4.00%, 03/01/2036		1,000		989
Rev., 4.00%, 03/01/2037		1,135		1,103
Rev., 4.00%, 03/01/2038		1,000		951
Brookhaven Development Authority, Children’s Healthcare of Atlanta Obligated Group, Series A, Rev., 4.00%, 07/01/2044		3,000		2,902
Carroll County, School District, GO, 5.00%, 04/01/2024		1,000		1,052
City of Atlanta Department of Aviation,
Series C, Rev., AMT, 5.00%, 07/01/2026		960		1,042
Series C, Rev., AMT, 5.00%, 07/01/2034		540		593
City of Atlanta, Airport Passenger Facility, Subordinated Lien, Series C, Rev., 5.00%, 07/01/2040		2,000		2,155
City of Atlanta, Department of Aviation, Series B, Rev., AMT, 5.00%, 07/01/2028		3,300		3,648
City of Atlanta, Department of Aviation, Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2031		1,155		1,265
Cobb County, Kennestone Hospital Authority, Wellstar Health System, Inc., Rev., 4.00%, 04/01/2033		500		504
DeKalb County Housing Authority, Columbia Village Project, Series A, Rev., HUD, 0.34%, 08/01/2024 (z)		285		278
Development Authority for Fulton County, Jonesboro Road Senior Village, Rev., 3.00%, 10/01/2025 (z)		2,020		2,035


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Georgia — continued
Development Authority of Burke County (The), Oglethorpe Power Corp. Scherer Project, Series A, Rev., 1.50%, 01/01/2040 (z)		250		240
Development Authority of Monroe County (The), Oglethorpe Power Corporation Scherer Project, Series A, Rev., 1.50%, 01/01/2039 (z)		125		120
Development Authority of Monroe County (The), Georgia Power Co. Plant Scherer, Rev., 1.00%, 07/01/2049 (z)		1,785		1,587
Development Authority of Rockdale County, Arbours at Conyers Project, Rev., 3.63%, 02/01/2026 (z)		1,085		1,098
George L Smith II Congress Center Authority, Convention Center Hotel, Series 2, Rev., 5.00%, 01/01/2054 (e)		1,000		856
Georgia State Road & Tollway Authority,
Rev., 5.00%, 06/01/2026		3,200		3,505
Rev., 5.00%, 06/01/2027		5,250		5,850
Rev., 5.00%, 06/01/2028		5,500		6,203
Rev., 5.00%, 06/01/2030		6,205		7,120
Main Street Natural Gas, Inc.,
Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 04/01/2048 (z)		3,400		3,460
Series A, Rev., 4.00%, 07/01/2052 (z)		15,500		15,892
Series A, Rev., 4.00%, 09/01/2052 (z)		2,000		1,985
Series B, Rev., (ICE LIBOR USD 1 Month * 0.67 + 0.75%), 1.46%, 04/01/2048 (aa)		12,000		11,913
Series B, Rev., 4.00%, 08/01/2049 (z)		2,175		2,236
Series C, Rev., LIQ: Royal Bank of Canada, 4.00%, 08/01/2048 (z)		105		107
Series C, Rev., 4.00%, 03/01/2050 (z)		2,350		2,358
Series C, Rev., 4.00%, 05/01/2052 (z)		15,310		15,327
Main Street Natural Gas, Inc., Gas Supply, Series C, Rev., 4.00%, 08/01/2052 (e) (z)		11,000		10,819
Metropolitan Atlanta Rapid Transit Authority, Series B, Rev., 5.00%, 07/01/2045		10,000		10,623
Milledgeville & Baldwin County Development Authority, Georgia College & State University Projects,
Rev., 4.00%, 06/15/2037		500		501
Rev., 5.00%, 06/15/2024		470		495
Rev., 5.00%, 06/15/2025		360		387
Municipal Electric Authority of Georgia, Combined Cycle Project,
Series A, Rev., 4.00%, 11/01/2023		2,750		2,815
Series A, Rev., 5.00%, 11/01/2027		250		277
Series A, Rev., 5.00%, 11/01/2029		250		280
Municipal Electric Authority of Georgia, General Resolution Project, Series A, Rev., 4.00%, 01/01/2037		1,125		1,102


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Georgia — continued
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project,
Rev., AGM, 4.00%, 01/01/2036		330		332
Rev., AGM, 4.00%, 01/01/2041		1,000		999
Rev., 5.00%, 01/01/2023		200		203
Rev., AGM, 5.00%, 01/01/2025		200		212
Rev., AGM, 5.00%, 01/01/2027		125		136
Series A, Rev., AGM, 5.00%, 07/01/2033		1,610		1,784
Series A, Rev., AGM, 5.00%, 07/01/2035		1,300		1,425
Series A, Rev., AGM, 5.00%, 07/01/2036		2,795		3,051
Municipal Electric Authority of Georgia, Project One, Subordinated,
Series B, Rev., 4.00%, 01/01/2039		1,400		1,359
Series B, Rev., 5.00%, 01/01/2023		1,000		1,015
Municipal Electric Authority of Georgia, Subordinate General Resolution, Rev., 5.00%, 01/01/2033		1,010		1,115
Municipal Electric Authority of Georgia, Subordinate Project One, Series A, Rev., 5.00%, 01/01/2030		705		782
Northwest Georgia Housing Authority, Dallas Manor Apartments Projects, Rev., HUD, 0.25%, 10/01/2024 (z)		260		252
Paulding County Hospital Authority, Anticipation Certificates Wellstar Health,
Rev., 5.00%, 04/01/2036		325		358
Rev., 5.00%, 04/01/2038		500		548
Private Colleges & Universities Authority, Savannah College Of Art And Design,
Rev., 4.00%, 04/01/2038		1,400		1,365
Rev., 5.00%, 04/01/2027		400		436
Private Colleges & Universities Authority, Various Emory University, Series B, Rev., (SIFMA Municipal Swap Index + 0.42%), 1.33%, 10/01/2039 (aa)		1,000		1,000
Savannah Economic Development Authority, International Paper Company Project, Rev., 1.90%, 08/01/2024		150		147
State of Georgia,
Series A1, GO, 5.00%, 02/01/2024		100		105
Series A, GO, 5.00%, 08/01/2023		85		88
Series C, GO, 5.00%, 07/01/2031 (w)		500		593
Series F, GO, 5.00%, 01/01/2025		2,000		2,145
State of Georgia, Bidding Group 2, Series A, GO, 4.00%, 07/01/2035		750		794
State of Georgia, Group 2, Series A, GO, 4.00%, 08/01/2034		1,000		1,055
State of Georgia, Tranche #1, Series A, GO, 5.00%, 07/01/2023		1,420		1,467
State of Georgia, Tranche 2, Series A, GO, 5.00%, 07/01/2030		2,000		2,307
Tender Option Bond Trust Receipts/Certificates, Series 2017-ZF0589, Rev., LIQ: Bank of America NA, 0.00%, 06/01/2049 (e) (z)		3,750		3,750


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Georgia — continued
Tender Option Bond Trust Receipts/Certificates, Floaters, Series 2021-XG0308, Rev., LIQ: Bank of America NA, 0.00%, 01/01/2052 (e) (z)		2,430		2,430
Valdosta Housing Authority, Tishco Rural Rental Housing, Rev., 1.25%, 02/01/2025 (z)		375		367
Villa Rica Downtown Development Authority, Arbours At Villa Rica Project, Rev., 1.25%, 08/01/2025 (z)		4,415		4,278
Walker County Development Authority, Gateway At Rossville Project, Rev., 0.46%, 12/01/2024 (z)		1,000		968


				168,127

Guam — 0.0% (g)
Territory of Guam, Series F, Rev., 4.00%, 01/01/2042		1,000		882

Hawaii — 0.4%
City & County of Honolulu,
Series A, GO, 5.00%, 10/01/2025		15		16
Series A, GO, 5.00%, 09/01/2027		30		34
Series C, GO, 5.00%, 10/01/2029		1,000		1,156
State of Hawaii, Series FG, GO, 4.00%, 10/01/2032		2,000		2,085
State of Hawaii Airports System Revenue,
Series A, Rev., AMT, 5.00%, 07/01/2032		1,500		1,606
Series A, Rev., AMT, 5.00%, 07/01/2033		1,630		1,737
Series A, Rev., AMT, 5.00%, 07/01/2034		2,000		2,157
Series B, Rev., 5.00%, 07/01/2026		1,250		1,364
State of Hawaii Harbor System Revenue,
Series A, Rev., AMT, 4.00%, 07/01/2031		250		264
Series A, Rev., AMT, 4.00%, 07/01/2032		500		524
Series A, Rev., AMT, 4.00%, 07/01/2033		750		778
Series A, Rev., AMT, 4.00%, 07/01/2034		3,555		3,654
Series A, Rev., AMT, 5.00%, 07/01/2027		250		277
Series A, Rev., AMT, 5.00%, 07/01/2028		500		559
Series A, Rev., AMT, 5.00%, 07/01/2029		250		281
Series C, Rev., 4.00%, 07/01/2032		200		213
State of Hawaii State Highway Fund, Rev., 5.00%, 01/01/2029		1,000		1,139
State of Hawaii, Airports System Revenue, Series D, Rev., 5.00%, 07/01/2030		1,000		1,135


				18,979

Idaho — 0.1%
Idaho Health Facilities Authority, Trinity Health Credit Group, Series A, Rev., 5.00%, 12/01/2047		1,715		1,793
Idaho Housing & Finance Association, Garvee,
Series A, Rev., 5.00%, 07/15/2029		280		320
Series A, Rev., 5.00%, 07/15/2030		1,250		1,444
Series A, Rev., 5.00%, 07/15/2031		750		867


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Idaho — continued
Idaho Housing & Finance Association, Transportation Expansion & Mitigation, Rev., 5.00%, 08/15/2037		165		191


				4,615

Illinois — 5.3%
Champaign County Community Unit School District No. 4 Champaign, GO, 5.00%, 01/01/2029		1,765		1,917
Chicago Board of Education,
Series A, GO, AGM, 5.00%, 12/01/2026		10		11
Series A, GO, 5.00%, 12/01/2041		1,000		1,017
Chicago Board of Education, Capital Appreciation, School Reform,
Series A, GO, NATL, Zero Coupon, 12/01/2024		500		462
Series A, GO, NATL, Zero Coupon, 12/01/2029		1,130		836
Series B1, GO, NATL, Zero Coupon, 12/01/2028		500		388
Series B1, GO, NATL, Zero Coupon, 12/01/2029		1,105		818
Chicago Board of Education, Dedicated, Series C, GO, 5.00%, 12/01/2034		2,000		2,055
Chicago O’Hare International Airport, Rev., AMT, 5.00%, 01/01/2030		3,400		3,521
Chicago O’Hare International Airport, Passenger Facility Charge, Rev., AMT, 5.00%, 01/01/2032		3,500		3,505
Chicago O’Hare International Airport, Senior Lien,
Series A, Rev., 4.00%, 01/01/2035		3,500		3,485
Series A, Rev., 5.00%, 01/01/2035		6,000		6,571
Chicago Transit Authority Capital Grant Receipts Revenue, Section 5307, Rev., 5.00%, 06/01/2023		700		719
Chicago Transit Authority Capital Grant Receipts Revenue, Section 5357, Rev., 5.00%, 06/01/2028		1,000		1,099
Chicago Transit Authority Sales Tax Receipts Fund, Series A, Rev., BAM, 5.00%, 12/01/2046		500		558
Chicago Transit Authority, Sales Tax Receipts Fund,
Rev., AGM, 5.00%, 12/01/2044		1,000		1,033
Rev., 5.25%, 12/01/2049		3,000		3,087
Series A, Rev., 5.00%, 12/01/2045		6,750		7,201
City of Berwyn, Series A, GO, 5.00%, 12/01/2029		1,000		1,014
City of Chicago,
Series A, GO, 5.00%, 01/01/2027		5,500		5,816
Series A, GO, 5.00%, 01/01/2033		1,000		1,041
Series A, GO, 5.00%, 01/01/2034		4,500		4,666
Series A, GO, 6.00%, 01/01/2038		8,775		9,420


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Illinois — continued
Series B, GO, 4.00%, 01/01/2038		521		487
Series C, GO, Zero Coupon, 01/01/2027		500		418
Series C, GO, 5.00%, 01/01/2025		45		47
Series C, GO, 5.00%, 01/01/2028		1,450		1,506
City of Chicago Special Assessment Revenue, Lakeshore East Project,
Special Assessment, 2.69%, 12/01/2026		305		284
Special Assessment, 3.04%, 12/01/2028		270		246
City of Chicago Waterworks Revenue, Second Lien Project, Rev., 5.00%, 11/01/2023		100		103
City of Chicago, Capital Appreciation City Colleges, GO, NATL, Zero Coupon, 01/01/2031		75		52
City of Granite City, Waste Management, Inc., Rev., AMT, 1.25%, 05/01/2027		5,000		4,338
Cook County Community Consolidated School District No. 34 Glenview, GO, 4.00%, 12/01/2029		2,000		2,163
Cook County High School District No. 214 Arlington Heights, GO, 4.00%, 12/01/2026		1,910		2,020
Cook County, Community School District No. 97, Oak Park, GO, 4.00%, 01/01/2034		2,000		2,053
Cook County, Community Unit School District No. 401, Elmwood Park, GO, 3.00%, 12/01/2022		500		503
County of Cook,
Series A, GO, AGM, 5.00%, 11/15/2026		1,000		1,096
Series A, GO, 5.00%, 11/15/2026		3,900		4,265
Series A, GO, 5.00%, 11/15/2028		2,300		2,574
County of Cook, Sales Tax Revenue, Series A, Rev., 5.00%, 11/15/2038		1,240		1,323
Illinois Development Finance Authority, Waste Management, Inc. Project, Rev., AMT, 0.40%, 11/01/2044 (z)		215		214
Illinois Finance Authority,
Series A, Rev., 4.00%, 07/15/2036		710		704
Series A, Rev., 4.00%, 07/15/2039		3,000		2,964
Series B2, Rev., 5.00%, 05/15/2050 (z)		2,550		2,748
Illinois Finance Authority, Acero Charter Schools, Inc., Rev., 4.00%, 10/01/2042 (e)		500		426
Illinois Finance Authority, Advocate Health Care Network Project, Rev., 4.00%, 11/01/2030		2,600		2,681
Illinois Finance Authority, American Water Capital Corp. Project, Rev., 0.70%, 05/01/2040 (z)		895		880
Illinois Finance Authority, Ann & Robert H. Lurie Children’s Hospital of Chicago, Rev., 5.00%, 08/15/2035		500		532
Illinois Finance Authority, Ascension Health Credit, Series C, Rev., 5.00%, 02/15/2036		1,355		1,440


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Illinois — continued
Illinois Finance Authority, Centegra Health System, Series A, Rev., 5.00%, 09/01/2025 (p)		130		138
Illinois Finance Authority, Green Bond, Rev., 4.00%, 07/01/2038		4,160		4,214
Illinois Finance Authority, Green Bonds,
Rev., 4.00%, 01/01/2033		8,190		8,682
Rev., 4.00%, 07/01/2040		1,500		1,512
Illinois Finance Authority, Health Services Facility Lease Revenue, Provident Group UIC Surgery,
Rev., 4.00%, 10/01/2040		1,750		1,589
Rev., 5.00%, 10/01/2032		750		800
Rev., 5.00%, 10/01/2034		125		133
Illinois Finance Authority, Illinois State Clean Water Initiative, Green Bond, Rev., 5.00%, 01/01/2028		100		113
Illinois Finance Authority, Mercy Health Corp., Rev., 5.00%, 12/01/2040		1,080		1,126
Illinois Finance Authority, Northshore University Health System, Rev., 5.00%, 08/15/2035		1,500		1,656
Illinois Finance Authority, OSF Healthcare System, Series B1, Rev., 5.00%, 05/15/2050 (z)		2,250		2,347
Illinois Finance Authority, Plymouth Place, Inc., Rev., 5.00%, 05/15/2041		400		372
Illinois Finance Authority, Presbyterian Homes, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 1.61%, 05/01/2042 (aa)		180		174
Illinois Finance Authority, Southern Illinois Healthcare, Rev., 5.00%, 03/01/2031		2,135		2,262
Illinois Finance Authority, Swedish Covenant Hospital,
Rev., 5.00%, 08/15/2032 (p)		4,000		4,409
Series A, Rev., 5.00%, 08/15/2026 (p)		1,690		1,863
Illinois Finance Authority, The Carle Foundation,
Series A, Rev., 5.00%, 08/15/2031		2,530		2,907
Series B, Rev., 5.00%, 08/15/2053 (z)		285		325
Illinois Finance Authority, University of Chicago,
Series A, Rev., 5.00%, 10/01/2028		3,000		3,395
Series A, Rev., 5.00%, 10/01/2034		1,750		2,037
Series A, Rev., 5.00%, 10/01/2035		1,400		1,625
Illinois Housing Development Authority,
Series C, Rev., FHA, 0.80%, 07/01/2026		270		251
Series D, Rev., GNMA/FNMA/FHLMC COLL, 3.75%, 04/01/2050		1,635		1,647
Illinois Housing Development Authority, Concord Commons, Rev., 0.25%, 02/01/2024 (z)		605		596


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Illinois — continued
Illinois Housing Development Authority, Social Bonds,
Series A, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051		4,285		4,196
Series B, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051		445		434
Illinois Sports Facilities Authority (The), State Tax Supported,
Rev., 5.00%, 06/15/2030		500		510
Rev., AGM, 5.25%, 06/15/2031		225		235
Illinois State Toll Highway Authority,
Series A, Rev., 5.00%, 01/01/2028		185		198
Series A, Rev., 5.00%, 01/01/2041		3,300		3,612
Series A, Rev., 5.00%, 01/01/2044		1,580		1,694
Series B, Rev., 5.00%, 01/01/2029		100		107
Series C, Rev., 5.00%, 01/01/2023		60		61
Illinois State Toll Highway Authority, Senior,
Series A, Rev., 5.00%, 12/01/2031		5,115		5,455
Series B, Rev., 5.00%, 01/01/2028		4,000		4,491
Series B, Rev., 5.00%, 01/01/2041		2,190		2,300
Illinois State Toll Highway Authority, Toll Highway Revenue,
Series A, Rev., 5.00%, 01/01/2036		1,000		1,113
Series A, Rev., 5.00%, 01/01/2037		1,555		1,719
Macon County, School District No. 61 Decatur,
GO, AGM, 4.00%, 01/01/2040		1,420		1,395
GO, AGM, 4.00%, 01/01/2045		3,000		2,869
Metropolitan Pier & Exposition Authority, Rev., NATL, Zero Coupon, 12/15/2034		500		292
Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion, Rev., 5.00%, 06/15/2042		2,500		2,558
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick, Rev., NATL, Zero Coupon, 12/15/2035		500		277
Metropolitan Pier & Exposition Authority, Capital Appreciation, McCormick, Series B, Rev., AGM, Zero Coupon, 06/15/2027		660		562
Metropolitan Pier & Exposition Authority, McCormick Place Expansion,
Rev., 3.00%, 06/15/2025		150		148
Rev., 4.00%, 12/15/2042		4,990		4,461
Metropolitan Water Reclamation District of Greater Chicago, Green Bonds, Series E, GO, 5.00%, 12/01/2036		2,065		2,252
Northern Illinois University, Board of Trustees Auxiliary Facilities, Rev., BAM, 4.00%, 10/01/2033		1,000		1,016
Railsplitter Tobacco Settlement Authority, Rev., 5.00%, 06/01/2023		130		133
Regional Transportation Authority, Series A, Rev., NATL, 6.00%, 07/01/2025		25		28


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Illinois — continued
Sales Tax Securitization Corp., Second Lien, Series A, Rev., BAM, 5.00%, 01/01/2037		750		822
Southern Illinois University, Housing, Rev., BAM, 5.00%, 04/01/2032		650		704
Southwestern Illinois Development Authority, Southwestern Il Flood Prevention, Rev., 4.00%, 10/15/2035		1,215		1,227
State of Illinois,
GO, 4.00%, 06/01/2036		485		464
GO, 5.00%, 07/01/2023		85		87
GO, 5.00%, 08/01/2024		1,345		1,348
GO, 5.00%, 08/01/2025		1,740		1,744
GO, 5.00%, 01/01/2028		6,810		7,205
GO, 5.00%, 02/01/2028		3,000		3,215
GO, 5.00%, 01/01/2029		2,085		2,183
GO, 5.00%, 02/01/2029		2,000		2,120
GO, 5.25%, 02/01/2030		2,000		2,053
GO, 5.50%, 05/01/2030		2,000		2,211
GO, 5.50%, 07/01/2038		1,000		1,021
Series A, GO, 5.00%, 10/01/2023		300		309
Series A, GO, 5.00%, 03/01/2024		80		83
Series A, GO, 5.00%, 11/01/2026		1,360		1,456
Series A, GO, 5.00%, 03/01/2027		2,355		2,530
Series A, GO, 5.00%, 03/01/2028		2,500		2,697
Series A, GO, 5.00%, 03/01/2030		1,000		1,084
Series A, GO, 5.00%, 03/01/2046		1,000		1,027
Series A, GO, 5.25%, 03/01/2037		120		129
Series A, GO, 5.50%, 03/01/2042		4,190		4,553
Series B, GO, 5.00%, 10/01/2029		1,000		1,083
Series B, GO, 5.00%, 10/01/2031		5,000		5,366
Series B, GO, 5.50%, 05/01/2039		250		268
Series C, GO, 5.00%, 11/01/2029		2,900		3,087
Series D, GO, 5.00%, 11/01/2026		1,980		2,120
Series D, GO, 5.00%, 11/01/2027		6,080		6,556
Series D, GO, 5.00%, 11/01/2028		2,500		2,679
State of Illinois Sales Tax Revenue, Series A, Rev., BAM, 4.00%, 06/15/2029		2,250		2,355
State of Illinois, Build America Bonds,
GO, 6.90%, 03/01/2035		1,000		1,100
GO, 7.35%, 07/01/2035		4,000		4,363
University of Illinois, Auxiliary Facilities System, Series A, Rev., 5.00%, 04/01/2025		140		146
Village of Rosemont, Series A, GO, BAM, 5.00%, 12/01/2042		10,000		11,015
Will County Community Unit School District No. 209-U Wilmington, GO, AGM, 5.50%, 02/01/2038 (w)		1,195		1,337
Will Grundy Etc. Counties Community College District No. 525, Alternative Revenue Source, Series B, GO, 5.50%, 06/01/2031 (p)		3,375		3,548


				267,891


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Indiana — 2.5%
City of Fishers Sewage Works Revenue, Rev., BAM, 4.00%, 07/01/2047		1,000		977
City of Franklin, Otterbein Homes, Series B, Rev., 5.00%, 07/01/2023		115		118
City of Kokomo, KHA RAD I Apartments, Rev., HUD, 0.56%, 02/01/2025 (z)		2,175		2,100
City of Mount Vernon, Southern Industry Gas And Electric Company, Rev., AMT, 0.88%, 09/01/2055 (z)		250		246
City of Rockport, Industry Pollution Control, Michigan Power Company Project, Rev., 2.75%, 06/01/2025		100		101
City of Rockport, Rockport Pollution Control, AEP Generating Company Project, Series A, Rev., 1.35%, 07/01/2025 (z)		20		20
City of Whiting, BP Products North America, Inc. Project, Rev., AMT, 5.00%, 11/01/2047 (z)		5,000		5,248
City of Whiting, Whiting Industry Environmental Facilities, Bp Products North America, Inc., Series A, Rev., AMT, 5.00%, 03/01/2046 (z)		1,585		1,609
Evansville Waterworks District, Series A, Rev., BAM, 5.00%, 07/01/2042		925		1,017
Indiana Development Finance Authority, Waste Management, Inc. Project, Rev., AMT, 0.40%, 10/01/2031 (z)		660		657
Indiana Finance Authority, Citizens Water Westfield Project, Series A, Rev., 4.00%, 10/01/2048		1,500		1,438
Indiana Finance Authority, Community Health Network, Series A, Rev., 5.00%, 05/01/2042 (p)		55		56
Indiana Finance Authority, CWA Authority Project, Green Bonds, Rev., 5.00%, 10/01/2031		500		570
Indiana Finance Authority, DePauw University Project, Series A, Rev., 5.00%, 07/01/2047		8,000		8,158
Indiana Finance Authority, Duke Energy Industry Project, Series A4, Rev., VRDO, LOC: Sumitomo Mitsui Banking Corp., 0.68%, 07/01/2022 (z)		2,500		2,500
Indiana Finance Authority, First Lien, CWA Authority Project, Rev., 5.00%, 10/01/2023		45		47
Indiana Finance Authority, Indiana University Health, Series C, Rev., 5.00%, 12/01/2022		250		254
Indiana Finance Authority, Indianapolis Power,
Series A, Rev., 0.75%, 12/01/2038 (z)		4,875		4,188
Series B, Rev., AMT, 0.95%, 12/01/2038 (z)		7,025		6,105


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Indiana — continued
Indiana Finance Authority, Marion General Hospital, Series A, Rev., 4.00%, 07/01/2040		5,060		4,884
Indiana Finance Authority, Ohio Valley Electric Corp. Project,
Series A, Rev., 4.25%, 11/01/2030		2,000		1,970
Series B, Rev., 2.50%, 11/01/2030		1,000		870
Indiana Finance Authority, Private Activity Ohio River Bridges Project, Rev., AMT, 5.00%, 07/01/2044 (p)		10,000		10,291
Indiana Finance Authority, Private Activity, Ohio River Bridges, Rev., AMT, 5.00%, 07/01/2048 (p)		2,435		2,506
Indiana Finance Authority, Second Lien, CWA Authority Project,
Rev., 5.00%, 10/01/2034		2,000		2,278
Rev., 5.00%, 10/01/2035		3,000		3,399
Indiana Finance Authority, United States Steel Corp., Series A, Rev., 4.13%, 12/01/2026		145		144
Indiana Finance Authority, University Of Evansville, Rev., 5.25%, 09/01/2037		1,150		1,159
Indiana Finance Authority, Valley Electric Corporation Project, Series B, Rev., 3.00%, 11/01/2030		1,000		905
Indiana Finance Authority, Valparaiso University Project, Rev., 4.00%, 10/01/2034		1,315		1,277
Indiana Health Facility Financing Authority, Ascension Health Substitute Credit Group, Series A, Rev., 4.00%, 11/01/2023		85		87
Indiana Housing & Community Development Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		880		862
Indiana Housing & Community Development Authority, RD Moving Forward Justus Project, Rev., 0.33%, 06/01/2024 (z)		135		132
Indiana Housing & Community Development Authority, Social Bonds,
Series A, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2052		1,000		967
Series C1, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 01/01/2052		45		44
Indianapolis Local Public Improvement Bond Bank,
Series A, Rev., AGM, 4.00%, 06/01/2036		5,000		5,044
Series A, Rev., AGM, 4.00%, 06/01/2041		9,000		8,864
Series A, Rev., 5.00%, 06/01/2024		15		16
Series A, Rev., 5.00%, 06/01/2025		500		534
Indianapolis Local Public Improvement Bond Bank, Airport Authority, Series A1, Rev., AMT, 5.00%, 01/01/2028		200		214
Indianapolis Local Public Improvement Bond Bank, CityWay 1 Project,
Series B, Rev., 5.00%, 02/01/2024		175		183
Series B, Rev., 5.00%, 02/01/2025		205		215


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Indiana — continued
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport, Rev., AMT, 5.00%, 01/01/2029		2,855		3,136
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport Authority,
Series D, Rev., AMT, 5.00%, 01/01/2029		3,000		3,087
Series D, Rev., AMT, 5.00%, 01/01/2030		2,000		2,055
Series D, Rev., AMT, 5.00%, 01/01/2031		4,000		4,106
Series D, Rev., AMT, 5.00%, 01/01/2032		4,500		4,611
Series D, Rev., AMT, 5.00%, 01/01/2033		3,500		3,584
Series I, Rev., AMT, 5.00%, 01/01/2032		4,885		5,045
Series I, Rev., AMT, 5.00%, 01/01/2033		5,000		5,157
Indianapolis Local Public Improvement Bond Bank, Metropolitan Thoroughfare District, Series D, Rev., 4.00%, 01/01/2041		10,000		10,061
Purdue University, Series A, Rev., 5.00%, 07/01/2027		1,500		1,684
Southwest Allen Multi School Building Corp., 1st Mortgage, Rev., 5.00%, 01/15/2030		1,200		1,336
Tippecanoe School Corp., GO, 4.00%, 07/15/2023		1,080		1,105


				127,221

Iowa — 0.7%
Clinton Community School District,
GO, AGM, 5.00%, 06/01/2024		1,425		1,500
GO, AGM, 5.00%, 06/01/2026		1,290		1,409
Iowa Finance Authority,
Series A, Rev., 5.00%, 08/01/2034		1,030		1,193
Series D, Rev., GNMA/FNMA/FHLMC, 3.50%, 01/01/2049		360		359
Iowa Finance Authority, Iowa Fertilizer Company Project,
Rev., 4.00%, 12/01/2050 (z)		5,905		5,885
Rev., 5.00%, 12/01/2050		1,800		1,823
Iowa Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2047		2,125		2,079
Iowa Tobacco Settlement Authority, Subordinate,
Series B1, Rev., 4.00%, 06/01/2049		7,750		7,471
Series B, Rev., Zero Coupon, 06/01/2065		15,345		1,567
PEFA, Inc., Rev., 5.00%, 09/01/2049 (z)		1,000		1,050
Sioux City Community School District, Rev., BAM, 3.00%, 10/01/2025		3,625		3,654
Southeast Polk Community School District, Series A, GO, 5.00%, 05/01/2028		5,185		5,866


				33,856

Kansas — 0.4%
City of Manhattan, Meadowlark Hills, Series A, Rev., 4.00%, 06/01/2036		1,000		891
City of Olathe, Temporary Notes, Series A, GO, 4.00%, 08/01/2022		5,000		5,011


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Kansas — continued
University of Kansas Hospital Authority, University Kansas Health System, Rev., 5.00%, 03/01/2047 (p)		3,865		4,309
University of Kansas Hospital Authority, Unrefunded University Kansas Health System, Rev., 5.00%, 03/01/2047		7,350		7,625
Wyandotte County-Kansas City Unified Government Utility System Revenue, Improvement, Series B, Rev., 5.00%, 09/01/2026 (p)		210		211


				18,047

Kentucky — 1.3%
City of Henderson, Pratt Paper LLC Project, Rev., AMT, 4.45%, 01/01/2042 (e)		1,685		1,582
County of Boone, Duke Energy, Rev., VRDO, LOC: Sumitomo Mitsui Banking Corp., 0.93%, 07/07/2022 (z)		10,000		10,000
County of Carroll, Utilities Company Project, Rev., AMT, 2.00%, 02/01/2032		8,620		7,231
County of Trimble, Louisville Gas & Electric, Rev., 0.63%, 09/01/2026		605		537
County of Trimble, Louisville Gas & Electricity, Rev., AMT, 1.35%, 11/01/2027		8,100		7,210
County of Trimble, Louisville Gas And Electric Company, Rev., AMT, 1.30%, 09/01/2044 (z)		1,000		840
Kentucky Asset Liability Commission, Project Notes, Series A, Rev., 5.00%, 09/01/2022		2,000		2,011
Kentucky Bond Development Corp., Centre College, Rev., 4.00%, 06/01/2040		420		391
Kentucky Economic Development Finance Authority, Norton Healthcare, Inc.,
Series B, Rev., NATL, Zero Coupon, 10/01/2026		3,930		3,421
Series B, Rev., NATL, Zero Coupon, 10/01/2027		1,995		1,669
Kentucky Housing Corp., Cambridge Square Project, Rev., 0.30%, 08/01/2024 (z)		575		553
Kentucky Housing Corp., New Hope Properties Portfolio, Rev., HUD, 0.41%, 04/01/2024 (z)		275		263
Kentucky Public Energy Authority,
Series A2, Rev., (ICE LIBOR USD 1 Month * 0.67 + 1.12%), 1.83%, 12/01/2049 (aa)		1,000		981
Series A2, Rev., (United States SOFR * 0.67 + 1.20%), 2.21%, 08/01/2052 (aa)		2,500		2,380
Series C, Rev., 4.00%, 02/01/2050 (z)		1,190		1,200
Kentucky Public Energy Authority, Gas Supply, Series B, Rev., 4.00%, 01/01/2049 (z)		12,885		13,040


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Kentucky — continued
Kentucky State Property & Building Commission, Project 125, Series A, Rev., 5.00%, 09/01/2022		30		30
Kentucky State University, Kentucky State University Project,
COP, BAM, 4.00%, 11/01/2033		145		154
COP, BAM, 4.00%, 11/01/2035		135		142
COP, BAM, 4.00%, 11/01/2036		155		163
COP, BAM, 4.00%, 11/01/2038		650		672
Louisville and Jefferson County Metropolitan Government, Louisville Gas And Electric Co. Project, Series A, Rev., 0.90%, 09/01/2026		2,750		2,466
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc., Rev., 5.00%, 10/01/2031		670		712
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric, Rev., 2.00%, 10/01/2033		1,000		804
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric Co. Project, Rev., AMT, 1.35%, 11/01/2027		2,000		1,786
Louisville/Jefferson County Metropolitan Government, Norton Healthcare, Inc., Rev., 4.00%, 10/01/2034		125		123
Louisville/Jefferson County Metropolitan Government, UofL Health Project, Series A, Rev., 5.00%, 05/15/2047		3,180		3,265


				63,626

Louisiana — 1.1%
City of Alexandria, Utilities Revenue, Series A, Rev., 5.00%, 05/01/2038 (p)		2,000		2,055
Consolidated Government of the City of Baton Rouge & Parish of East Baton Rouge, Sales Tax,
Rev., AGM, 5.00%, 08/01/2022		80		80
Rev., AGM, 5.00%, 08/01/2027		1,400		1,548
East Baton Rouge Sewerage Commission, Series A, Rev., 1.30%, 02/01/2041 (z)		4,500		3,907
Ernest N. Morial New Orleans Exhibition Hall Authority, Special Tax, 5.00%, 07/15/2027		900		901
Lakeshore Villages Master Community Development District, Parish of St. Tammany, Special Assessment, 3.20%, 06/01/2041 (e)		630		501
Louisiana Housing Corp., Hollywood Acres And Hollywood Heights Projects, Rev., 0.55%, 12/01/2023		165		160
Louisiana Housing Corp., Mabry Place Townhouse Project, Rev., 0.31%, 08/01/2024 (z)		1,955		1,907


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Louisiana — continued
Louisiana Housing Corp., Social Bonds Home Ownership Project, Rev., GNMA/FNMA/FHLMC, 5.00%, 06/01/2052 (w)		1,250		1,323
Louisiana Local Government Environmental Facilities & Community Development Authority, Entergy Louisiana LLC Project,
Rev., 2.00%, 06/01/2030		2,755		2,390
Rev., 2.50%, 04/01/2036		1,000		810
Louisiana Public Facilities Authority, Loyola University Project, Rev., 4.00%, 10/01/2038		2,560		2,422
Louisiana Public Facilities Authority, Ochsner Clinic Foundation, Series B, Rev., 5.00%, 05/15/2050 (z)		1,100		1,166
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Rev., 5.00%, 05/15/2042		1,480		1,532
New Orleans Aviation Board,
Series B, Rev., AMT, 5.00%, 01/01/2040		3,000		3,059
Series B, Rev., AMT, 5.00%, 01/01/2045		4,000		4,064
New Orleans Aviation Board, General Airport, Series D2, Rev., AMT, 5.00%, 01/01/2033		1,100		1,155
New Orleans Aviation Board, General Airport North Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2038		1,000		1,036
Series B, Rev., AMT, 5.00%, 01/01/2048		5,000		5,127
Parish of St. John the Baptist, Marathon Oil Corp. Project, Series B1, Rev., 2.13%, 06/01/2037 (z)		875		847
Port New Orleans Board of Commissioners, Series E, Rev., AMT, 5.00%, 04/01/2039		1,170		1,242
St Tammany Parish Hospital Service District No. 1,
Series A, Rev., 5.00%, 07/01/2032		1,615		1,720
Series A, Rev., 5.00%, 07/01/2034		1,655		1,749
State of Louisiana, Series A, GO, 5.00%, 03/01/2037		9,555		10,556
State of Louisiana Gasoline & Fuels Tax Revenue, Second Lien,
Series A, Rev., 0.60%, 05/01/2043 (z)		4,135		4,032
Series A, Rev., (United States SOFR * 0.70 + 0.50%), 1.56%, 05/01/2043 (aa)		1,135		1,090
Series D, Rev., 0.60%, 05/01/2043 (z)		1,605		1,565
Tobacco Settlement Financing Corp., Asset Backed, Series A, Rev., 5.00%, 05/15/2023		125		128


				58,072

Maine — 0.3%
Finance Authority of Maine, Supplemental Educational Loan Program,
Series A1, Rev., AGM, AMT, 2.38%, 12/01/2033		705		599


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Maine — continued
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2023		165		172
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2024		75		79
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2025		85		91
Maine Health & Higher Educational Facilities Authority,
Series A, Rev., AGM, 5.00%, 07/01/2030		50		56
Series A, Rev., AGM, 5.00%, 07/01/2031		295		333
Series A, Rev., AGM, 5.00%, 07/01/2032		315		350
Maine State Housing Authority, Social Bonds, Series D, Rev., 3.00%, 11/15/2051		995		969
Maine Turnpike Authority,
Rev., 4.00%, 07/01/2045		9,000		8,906
Rev., 5.00%, 07/01/2031		400		461
Rev., 5.00%, 07/01/2033		1,155		1,320


				13,336

Maryland — 1.5%
City of Baltimore, Water Project, Series A, Rev., 5.00%, 07/01/2050		3,200		3,521
City of Brunswick, Brunswick Crossing Special Tax, Special Tax, 4.00%, 07/01/2029		500		489
County of Baltimore, Series 83, GO, 5.00%, 03/01/2024		50		52
County of Frederick, Public Facilities Project, Series A, GO, 5.00%, 10/01/2022		4,995		5,039
County of Howard, Metropolitan District, Series E, GO, 5.00%, 02/15/2027		1,850		2,073
County of Montgomery, Series B, GO, 4.00%, 11/01/2028		1,500		1,627
County of Prince George’s, Series A, GO, 5.00%, 07/01/2029		1,250		1,449
County of Prince George’s, Behavioral Health Facility,
COP, 5.00%, 10/01/2022		70		71
COP, 5.00%, 10/01/2023		650		675
County of Prince George’s, Chesapeake Lighthouse Obligations, Series A, Rev., 6.50%, 08/01/2035 (e)		750		783
County of Prince George’s, Public Improvement, Series A, GO, 4.00%, 07/15/2032		5,000		5,327
Maryland Community Development Administration,
Series B, Rev., 3.00%, 09/01/2051		155		151
Series D, Rev., 3.25%, 09/01/2050		2,660		2,638
Maryland Community Development Administration, Residential, Series B, Rev., AMT, 4.50%, 09/01/2048		1,680		1,723
Maryland Community Development Administration, Social Bonds, Series C, Rev., 3.00%, 09/01/2051		2,516		2,450


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Maryland — continued
Maryland Economic Development Corp., Green Bond, Purple Line, Rev., AMT, 5.25%, 06/30/2047		1,300		1,331
Maryland Economic Development Corp., Morgan State University Project, Rev., 4.00%, 07/01/2040		665		590
Maryland Economic Development Corp., Port Covington Project,
Tax Allocation, 3.25%, 09/01/2030		1,405		1,267
Tax Allocation, 4.00%, 09/01/2040		1,280		1,119
Maryland Health & Higher Educational Facilities Authority, Adventist Healthcare,
Rev., 4.00%, 01/01/2038		2,020		1,924
Rev., 5.00%, 01/01/2025		470		491
Rev., 5.00%, 01/01/2036		4,580		4,864
Maryland Health & Higher Educational Facilities Authority, Meritus Medical Center, Rev., 5.00%, 07/01/2028		1,300		1,356
Maryland Stadium Authority Built to Learn Revenue,
Rev., 4.00%, 06/01/2035		2,000		2,008
Rev., 4.00%, 06/01/2036		2,125		2,120
Series A, Rev., 5.00%, 06/01/2033		1,375		1,582
State of Maryland, Series B, GO, 5.00%, 08/01/2022		430		431
State of Maryland Department of Transportation, Baltimore Washington International,
Rev., AMT, 4.00%, 08/01/2037		865		848
Rev., AMT, 4.00%, 08/01/2038		965		945
Rev., AMT, 4.00%, 08/01/2039		1,160		1,128
State of Maryland, Group 1, Series A, GO, 5.00%, 08/01/2028		1,500		1,718
State of Maryland, Local Facilities Loan, Series A, GO, 5.00%, 08/01/2028		7,000		8,015
State of Maryland, Second, Series B, GO, 5.00%, 08/01/2025 (p)		505		506
State of Maryland, State & Local Facilities Loan of 2022, GO, 5.00%, 06/01/2033		1,000		1,185
Tender Option Bond Trust Receipts/Certificates, Series 2018-XF0605, Rev., LIQ: Bank of America NA, 0.00%, 05/01/2047 (e) (z)		3,300		3,300
Washington Suburban Sanitary Commission,
Rev., CNTY GTD, 5.00%, 06/01/2029		3,000		3,475
Series A, Rev., CNTY GTD, BAN, VRDO, 0.88%, 07/07/2022 (z)		3,100		3,100
Washington Suburban Sanitary Commission, Consolidated Public Improvement, Rev., CNTY GTD, 5.00%, 06/01/2029		1,500		1,706
Washington Suburban Sanitary Commission, Consolidated Public Improvement Bonds, Rev., CNTY GTD, 5.00%, 06/01/2033		3,000		3,357


				76,434


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Massachusetts — 1.2%
Commonwealth of Massachusetts,
Rev., NATL, 5.50%, 01/01/2034		1,000		1,185
Series A, GO, 5.00%, 06/01/2044 (z)		1,500		1,544
Series B, GO, 5.00%, 11/01/2024		3,000		3,204
Commonwealth of Massachusetts Transportation Fund Revenue, Rail Enhancement Project, Series B, Rev., 5.00%, 06/01/2025		375		405
Commonwealth of Massachusetts, Consolidated Loan, Series D2, GO, 1.70%, 08/01/2043 (z)		1,000		1,000
Massachusetts Development Finance Agency,
Series A1, Rev., 5.00%, 07/01/2050 (z)		5,000		5,644
Series B, Rev., 0.25%, 07/01/2024 (z)		370		362
Massachusetts Development Finance Agency, Harvard University Issue, Series A, Rev., 5.00%, 10/15/2030		1,000		1,175
Massachusetts Development Finance Agency, Milford Regional Medical Center, Rev., 5.00%, 07/15/2046 (e)		1,000		984
Massachusetts Development Finance Agency, Partners Healthcare System, Rev., (SIFMA Municipal Swap Index + 0.60%), 1.51%, 07/01/2049 (e) (aa)		100		99
Massachusetts Development Finance Agency, Suffolk University Project, Rev., 4.00%, 07/01/2051		1,250		1,084
Massachusetts Educational Financing Authority,
Series B, Rev., AMT, 2.63%, 07/01/2036		3,030		2,768
Series B, Rev., AMT, 5.00%, 07/01/2023		250		257
Series B, Rev., AMT, 5.00%, 07/01/2024		615		644
Series I, Rev., AMT, 5.00%, 01/01/2025		3,000		3,160
Massachusetts Educational Financing Authority, Educational Loan Revenue Bonds, Rev., AMT, 2.00%, 07/01/2037		180		159
Massachusetts Educational Financing Authority, Senior Issue M, Series B, Rev., AMT, 3.63%, 07/01/2038		1,030		965
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute Technology, Series J2, Rev., VRDO, 0.83%, 07/07/2022 (z)		4,015		4,015
Massachusetts Housing Finance Agency, Social Bond,
Series 220, Rev., GNMA/FNMA/FHLMC, 3.00%, 12/01/2050		3,580		3,511
Series 220, Rev., GNMA/FNMA/FHLMC, 5.00%, 12/01/2023		500		522
Massachusetts Housing Finance Agency, Social Bonds, Series 223, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2047		1,040		1,016
Massachusetts Housing Finance Agency, Sustainability Bond, Series B2, Rev., 0.75%, 06/01/2025		115		108


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Massachusetts — continued
Massachusetts Housing Finance Agency, Sustainability Bonds,
Series A2, Rev., HUD, 0.30%, 12/01/2023		105		102
Series A2, Rev., HUD, 0.40%, 06/01/2024		140		134
Massachusetts Port Authority,
Series A, Rev., 5.00%, 07/01/2037		1,000		1,127
Series E, Rev., AMT, 5.00%, 07/01/2031		1,495		1,665
Series E, Rev., AMT, 5.00%, 07/01/2032		2,000		2,217
Massachusetts School Building Authority, Sales Tax, Series A, Rev., 5.00%, 11/15/2027		1,105		1,199
Massachusetts School Building Authority, Senior, Series B, Rev., 5.00%, 08/15/2028 (p)		5,000		5,021
Massachusetts School Building Authority, Subordinated, Series A, Rev., 5.00%, 02/15/2036 (p)		7,190		7,550
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue, Subordinated, Contract, Rev., 5.00%, 01/01/2039 (z)		3,725		3,781
Massachusetts Water Resources Authority, Green Bond, Series B, Rev., 5.00%, 08/01/2026		905		1,001
Massachusetts Water Resources Authority, Green Bonds, Series C, Rev., 4.00%, 08/01/2022		65		65
University of Massachusetts Building Authority, Series 2021, Rev., 5.00%, 11/01/2026		5,000		5,545


				63,218

Michigan — 1.6%
City of Detroit Sewage Disposal System Revenue, Floating Rate Notes Refunding System Libor D, Rev., AGM, (ICE LIBOR USD 3 Month * 0.67 + 0.60%), 1.25%, 07/01/2032 (aa)		1,000		976
City of Detroit, Social Bonds,
Series A, GO, 4.00%, 04/01/2041		500		448
Series A, GO, 5.00%, 04/01/2039		115		119
Series A, GO, 5.00%, 04/01/2046		35		36
Series A, GO, 5.00%, 04/01/2050		30		30
Gerald R Ford International Airport Authority,
Rev., CNTY GTD, AMT, 5.00%, 01/01/2026		225		243
Rev., CNTY GTD, AMT, 5.00%, 01/01/2027		350		383
Rev., CNTY GTD, AMT, 5.00%, 01/01/2028		275		305
Rev., CNTY GTD, AMT, 5.00%, 01/01/2029		600		672


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Michigan — continued
Rev., CNTY GTD, AMT, 5.00%, 01/01/2034		1,140		1,281
Rev., CNTY GTD, AMT, 5.00%, 01/01/2038		1,300		1,441
Rev., CNTY GTD, AMT, 5.00%, 01/01/2039		1,000		1,106
Rev., CNTY GTD, AMT, 5.00%, 01/01/2040		1,125		1,241
Great Lakes Water Authority Water Supply System Revenue, Taxable Senior Lien, Series C, Rev., 2.19%, 07/01/2027		3,000		2,781
Great Lakes Water Authority, Sewage Disposal System, Second Lien, Series C, Rev., 5.00%, 07/01/2032		75		80
Great Lakes Water Authority, Sewage Disposal System, Senior Lien, Series B, Rev., 5.00%, 07/01/2030		3,200		3,443
L’Anse Creuse Public Schools, GO, Q-SBLF, 5.00%, 05/01/2029 (p)		2,405		2,593
Michigan Finance Authority,
Rev., 5.00%, 11/15/2023		1,375		1,433
Rev., 5.00%, 11/15/2045		5,000		5,093
Michigan Finance Authority, Aquinas College Project,
Rev., 5.00%, 05/01/2036		300		284
Rev., 5.00%, 05/01/2046		2,000		1,790
Michigan Finance Authority, Beaumont Spectrum,
Rev., 4.00%, 04/15/2042		2,500		2,470
Rev., 5.00%, 04/15/2030		3,000		3,432
Michigan Finance Authority, Che Trinity Health, Rev., 4.00%, 12/01/2040 (p)		95		103
Michigan Finance Authority, Henry Ford Health System, Series A, Rev., 5.00%, 11/15/2048		5,000		5,167
Michigan Finance Authority, Higher Educational Facilities Authority,
Rev., 5.00%, 09/01/2032		690		761
Rev., 5.00%, 09/01/2033		800		880
Rev., 5.00%, 09/01/2034		570		625
Rev., 5.00%, 09/01/2035		1,200		1,313
Michigan Finance Authority, Holland Community Hospital, Series A, Rev., 5.00%, 01/01/2040		1,980		2,010
Michigan Finance Authority, Hospital CHE Trinity Health Credit Group, Rev., 1.35%, 12/01/2034 (z)		2,000		2,000
Michigan Finance Authority, Multi Modal McLaren Health Care, Rev., 4.00%, 02/15/2050		2,500		2,339
Michigan Finance Authority, Trinity Health Credit Group, Rev., 5.00%, 12/01/2036		1,000		1,101
Michigan State Building Authority,
Series I, Rev., 5.00%, 10/15/2027		2,500		2,811
Series I, Rev., 5.00%, 10/15/2029		1,750		2,008


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Michigan — continued
Michigan State Building Authority, Multi Modal Facilities Program, Rev., VRDO, 1.00%, 07/07/2022 (z)		3,500		3,500
Michigan State Hospital Finance Authority, Hospital Trinity Health Credit, Series C, Rev., 5.00%, 12/01/2027		100		112
Michigan State Housing Development Authority,
Series A, Rev., 0.55%, 04/01/2025		375		354
Series C, Rev., 3.00%, 06/01/2051		2,570		2,520
Michigan State Housing Development Authority, Carpenter Place Apartments, Rev., HUD, 1.25%, 12/01/2024 (z)		495		487
Michigan State Housing Development Authority, Social Bond,
Series A, Rev., 3.00%, 06/01/2052		3,400		3,317
Series A, Rev., 5.00%, 06/01/2053		2,480		2,627
Michigan State University,
Series A, Rev., 5.00%, 08/15/2022		705		708
Series A, Rev., 5.00%, 08/15/2029		2,000		2,255
Series A, Rev., 5.00%, 08/15/2038		250		255
Michigan Strategic Fund, Consumers Energy Co. Project, Rev., AMT, 0.88%, 04/01/2035 (z)		1,620		1,466
Michigan Strategic Fund, Detroit Edison Co. Exempt, Rev., 1.35%, 08/01/2029		3,450		2,931
Michigan Strategic Fund, Detroit Edison Company, Rev., 1.45%, 09/01/2030		810		680
Michigan Strategic Fund, Green Bond Recycling, Rev., AMT, 4.00%, 10/01/2061 (z)		1,685		1,668
Monroe County Economic Development Corp., Collateral Detroit Edison Co., Series AA, Rev., NATL, 6.95%, 09/01/2022		1,360		1,371
State of Michigan Trunk Line Revenue, State Trunk Line Fund Bonds, Rev., 5.00%, 11/15/2022		1,195		1,211
State of Michigan, Environmental Program Bonds, Series A, GO, 5.00%, 05/15/2030		400		466
Wayne County Airport Authority, Series F, Rev., AMT, 5.00%, 12/01/2034		1,470		1,530
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Series B, Rev., BAM, 5.00%, 12/01/2039		3,000		3,090


				83,346

Minnesota — 0.9%
County of Hennepin,
Series A, GO, 5.00%, 12/01/2022		2,300		2,334
Series C, GO, 5.00%, 12/15/2032		1,500		1,711
Dakota County Community Development Agency, Aster House Apartments Project, Rev., 0.35%, 06/01/2024 (z)		2,415		2,357


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Minnesota — continued
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Fairview Health Services, Series A, Rev., 5.00%, 11/15/2047		9,000		9,273
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Hope Community Academy Project, Series A, Rev., 5.00%, 12/01/2043		1,000		876
Minnesota Housing Finance Agency,
Series B, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		800		784
Series C, Rev., 5.00%, 08/01/2032		2,365		2,725
Series D, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 01/01/2052		1,085		1,059
Series G, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2051		3,575		3,515
Series I, Rev., GNMA/FNMA/FHLMC, 2.80%, 12/01/2047		374		361
Series I, Rev., 3.00%, 01/01/2051		3,705		3,631
Minnesota Housing Finance Agency, Social Bond, Series H, Rev., 3.00%, 07/01/2052		110		107
Minnesota Housing Finance Agency, Social Bonds,
Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		1,145		1,112
Series F, Rev., 3.00%, 07/01/2052		255		249
Minnesota Housing Finance Agency, State Appropriation Bond Housing, Rev., 5.00%, 08/01/2029		1,245		1,416
Minnesota Municipal Gas Agency, Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2052 (z)		4,370		4,479
Minnesota Office of Higher Education, Supplemental Student Loan, Rev., AMT, 4.00%, 11/01/2037		1,580		1,574
Shakopee Independent School District No. 720, Series D, GO, 5.00%, 02/01/2024		3,685		3,856
St. Paul Port Authority, Solid Gerdau St. Paul Steel Mill Project, Rev., AMT, 4.50%, 10/01/2037 (e)		1,500		1,468
State of Minnesota,
Series A, GO, 4.00%, 09/01/2037		690		717
Series A, GO, 5.00%, 08/01/2026		250		278
Series A, GO, 5.00%, 10/01/2029		45		50
Series A, GO, 5.00%, 08/01/2034		2,000		2,226
Series B, GO, 5.00%, 08/01/2022		100		100
Series E, GO, 3.00%, 08/01/2026		710		730


				46,988

Mississippi — 0.2%
Mississippi Business Finance Corp., Chevron USA, Inc., Rev., VRDO, 0.94%, 07/07/2022 (z)		4,000		4,000


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Mississippi — continued
Mississippi Business Finance Corp., System Energy Resources, Inc. Project, Rev., 2.38%, 06/01/2044		175		118
Mississippi Home Corp., J&A Development Portfolio Project, Series 1, Rev., 0.30%, 02/01/2024 (z)		40		39
Mississippi Home Corp., Southwest Village Apartments Project, Rev., HUD, 2.00%, 02/01/2025 (z)		2,970		2,949
Mississippi Hospital Equipment & Facilities Authority, Baptist Memorial Health Care, Rev., 5.00%, 09/01/2044 (z)		250		264


				7,370

Missouri — 0.9%
Cape Girardeau County Industrial Development Authority, SoutheastHEALTH, Rev., 4.00%, 03/01/2041		870		763
City of St. Charles, Series B, COP, 4.00%, 02/01/2029		515		550
Curators of the University of Missouri (The),
Series A, Rev., 4.00%, 11/01/2034		2,500		2,548
Series A, Rev., 4.00%, 11/01/2035		1,000		1,018
Health & Educational Facilities Authority of the State of Missouri, Series C, Rev., 5.00%, 05/01/2052 (z)		2,695		2,968
Health & Educational Facilities Authority of the State of Missouri, BJC Health System, Series B, Rev., 4.00%, 05/01/2051 (z)		1,500		1,564
Health & Educational Facilities Authority of the State of Missouri, Capital Region Medical Center, Rev., 5.00%, 11/01/2035		3,400		3,258
Health & Educational Facilities Authority of the State of Missouri, Luke’s Health System, Rev., 4.00%, 11/15/2038		2,000		1,969
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Service Projects, Series A, Rev., 5.00%, 02/01/2029		1,410		1,475
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Services, Rev., 4.00%, 02/01/2034		500		459
Kansas City Industrial Development Authority, Rev., AMT, 5.00%, 03/01/2032		900		977
Kansas City Industrial Development Authority, Kansas City International Airport,
Rev., AMT, 4.00%, 03/01/2036		1,250		1,214
Rev., AMT, 4.00%, 03/01/2040		2,500		2,375
Rev., AMT, 5.00%, 03/01/2029		3,050		3,352
Rev., AMT, 5.00%, 03/01/2038		2,480		2,609
Rev., AMT, 5.00%, 03/01/2046		5,000		5,187
Missouri Development Finance Board, Procter & Gamble Paper Products, Rev., AMT, 5.20%, 03/15/2029		370		417


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Missouri — continued
Missouri Housing Development Commission, First Place Homeownership Loan,
Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 05/01/2052		510		498
Rev., GNMA/FNMA/FHLMC, 3.00%, 05/01/2052		3,260		3,183
Rev., GNMA/FNMA/FHLMC, 3.25%, 11/01/2052		450		443
Series D, Rev., GNMA/FNMA/FHLMC, 3.25%, 05/01/2051		10		10
Missouri State Environmental Improvement & Energy Resources Authority, Union Electric Company Project, Series AR, Rev., 2.90%, 09/01/2033		2,000		1,868
Orchard Farm R-V School District,
COP, 4.00%, 04/01/2027 (p)		400		428
COP, 4.00%, 04/01/2028 (p)		410		441
Plaza at Noah’s Ark Community Improvement District, Rev., 3.00%, 05/01/2030		575		513
St Charles County Industrial Development Authority, Hidden Valley Estates, Rev., HUD, 0.27%, 08/01/2025 (z)		1,290		1,243
St Louis Municipal Finance Corp., Convention Center Expansion, Rev., AGM, 5.00%, 10/01/2045		3,215		3,510
State of Missouri, Health & Educational Facilities, Saint Luke’s Health System, Inc., Rev., 5.00%, 11/15/2023		290		302


				45,142

Montana — 0.1%
Montana Board of Housing,
Rev., 3.00%, 12/01/2050		3,315		3,255
Series A, Rev., 3.00%, 06/01/2052		365		355
Series B2, Rev., AMT, 3.50%, 12/01/2042		440		442
Series B, Rev., 3.00%, 12/01/2051		1,260		1,230
Montana Facility Finance Authority, Rev., 5.00%, 02/15/2033		1,000		1,050
Montana State Board of Regents,
Series G, Rev., 5.00%, 11/15/2031		250		291
Series G, Rev., 5.00%, 11/15/2032		630		726


				7,349

Nebraska — 0.5%
Central Plains Energy Project,
Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2049 (z)		4,000		4,109
Rev., 5.00%, 09/01/2042		625		628
County of Douglas, Creighton University Project, Rev., (SIFMA Municipal Swap Index + 0.53%), 1.44%, 07/01/2035 (aa)		2,250		2,254
County of Washington, Cargill, Inc. Project, Rev., AMT, 0.90%, 09/01/2030 (z)		350		328


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Nebraska — continued
Douglas County Hospital Authority No. 2, Health Facilities Children’s Hospital, Rev., 5.00%, 11/15/2047		3,000		3,087
Douglas County Hospital Authority No. 2, Madonna Rehabilitation Hospital, Rev., 4.00%, 05/15/2033		2,100		2,105
Douglas County, Hospital Authority No. 2, Children’s Hospital Obligated Group, Rev., 5.00%, 11/15/2053 (z)		2,190		2,357
Nebraska Educational Health Cultural & Social Services Finance Authority, Immanuel Obligated Group, Rev., 4.00%, 01/01/2037		1,000		996
Nebraska Public Power District, Series A, Rev., 0.60%, 01/01/2051 (z)		9,000		8,858


				24,722

Nevada — 1.0%
City of Carson City, Carson Tahoe Regional Medical Center, Rev., 5.00%, 09/01/2047		1,000		1,031
City of Las Vegas Special Improvement District No. 612 Skye Hills, Special Assessment, 3.50%, 06/01/2035		210		175
City of North Las Vegas, GO, BAM, 5.00%, 06/01/2027		2,000		2,229
Clark County School District, Series C, GO, 5.00%, 06/15/2026		1,250		1,372
Clark County School District, Building,
Series A, GO, 5.00%, 06/15/2029		500		560
Series B, GO, AGM-CR, 5.00%, 06/15/2033		3,000		3,332
County of Clark Department of Aviation, Airport Systems, Subordinate, Rev., 5.00%, 07/01/2033		1,010		1,141
County of Clark Department of Aviation, Subordinate, Series B, Rev., AMT, 5.00%, 07/01/2027		6,000		6,547
County of Clark Department of Aviation, System Senior, Series A, Rev., 5.00%, 07/01/2040		2,000		2,086
County of Clark Passenger Facility Charge Revenue, McCarran International,
Rev., 5.00%, 07/01/2029		5,000		5,644
Rev., 5.00%, 07/01/2031		1,950		2,186
Rev., 5.00%, 07/01/2032		2,385		2,664
County of Clark, Detention Center, GO, 4.00%, 06/01/2034		3,335		3,448
County of Clark, Passenger Facility Charge Revenue, Las Vegas McCarran International Airport, Rev., 5.00%, 07/01/2030		1,425		1,605
County of Clark, Southern CA Edison Company, Rev., 2.10%, 06/01/2031		1,000		825
Las Vegas Convention & Visitors Authority, Series B, Rev., 5.00%, 07/01/2043		5,150		5,572


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Nevada — continued
Las Vegas Valley Water District, Series A, GO, 5.00%, 06/01/2026		1,500		1,652
Las Vegas Valley Water District, Water Improvement, Series A, GO, 5.00%, 06/01/2046		5,000		5,300
Las Vegas Valley, Water District, Series B, GO, 5.00%, 12/01/2023		70		73
State of Nevada Department of Business & Industry, Brightline West Passenger Rail Project, Rev., AMT, 0.85%, 01/01/2050 (e) (z)		4,500		4,440


				51,882

New Hampshire — 0.2%
New Hampshire Business Finance Authority,
Rev., 4.13%, 01/20/2034		967		952
Rev., 4.38%, 09/20/2036		414		397
New Hampshire Business Finance Authority, Caritas Oregon Project, Series A, Rev., 4.13%, 08/15/2040 (e)		2,000		1,750
New Hampshire Business Finance Authority, Saint Luke’s University Health, Rev., 4.00%, 08/15/2036		720		710
New Hampshire Business Finance Authority, Springpoint Senior Living,
Rev., 4.00%, 01/01/2026		270		270
Rev., 4.00%, 01/01/2027		250		248
Rev., 4.00%, 01/01/2028		290		286
Rev., 4.00%, 01/01/2029		300		293
Rev., 4.00%, 01/01/2030		280		270
Rev., 4.00%, 01/01/2031		290		277
New Hampshire Business Finance Authority, Taxable Virginia Birmingham Care Center, Rev., 3.78%, 01/01/2036		2,000		1,594
New Hampshire Business Finance Authority, Waste Management, Inc. Project, Rev., AMT, (SIFMA Municipal Swap Index + 0.38%), 1.29%, 10/01/2033 (aa)		4,170		4,018


				11,065

New Jersey — 3.3%
City of Newark,
Series A, GO, AGM, 5.00%, 10/01/2027		100		110
Series A, GO, AGM, 5.00%, 10/01/2028		750		833
Garden State Preservation Trust, Capital Appreciation, Series B, Rev., AGM, Zero Coupon, 11/01/2026		1,000		879
Gloucester County Improvement Authority, The Rowan University Fossil Park,
Rev., BAM, 4.00%, 07/01/2046		725		694
Rev., BAM, 4.00%, 07/01/2051		1,000		951
Hudson County Improvement Authority, Hudson County Courthouse Project, Rev., 5.00%, 10/01/2028		150		170


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New Jersey — continued
New Brunswick Parking Authority, City Guaranteed Parking, Series A, Rev., BAM, 5.00%, 09/01/2026		1,000		1,100
New Jersey Economic Development Authority,
Series A, Rev., 5.00%, 11/01/2027		2,500		2,705
Series AAA, Rev., 5.00%, 06/15/2041		500		517
Series AAA, Rev., 5.50%, 06/15/2028		5,000		5,418
Series AAA, Rev., 5.50%, 06/15/2032 (p)		2,000		2,273
Series B, Rev., 5.00%, 11/01/2023		75		78
Series DDD, Rev., 5.00%, 06/15/2033		1,500		1,574
New Jersey Economic Development Authority, American Water Company,
Series B, Rev., AMT, 1.20%, 11/01/2034 (z)		1,265		1,252
Series C, Rev., AMT, 1.15%, 06/01/2023		135		134
New Jersey Economic Development Authority, Continental Airlines, Inc. Project, Rev., AMT, 5.13%, 09/15/2023		1,375		1,384
New Jersey Economic Development Authority, Higher Education Capital Improvement Fund, Series A, Rev., 5.00%, 09/01/2025		245		254
New Jersey Economic Development Authority, New Jersey American Water Company, Inc.,
Rev., AMT, 1.10%, 11/01/2029 (z)		2,610		2,268
Series E, Rev., AMT, 0.85%, 12/01/2025		2,205		2,039
New Jersey Economic Development Authority, Port Newark Container, Rev., AMT, 5.00%, 10/01/2037		1,000		1,034
New Jersey Economic Development Authority, School Facilities Construction,
Rev., 5.00%, 03/01/2031 (p)		1,190		1,217
Series GGG, Rev., 5.25%, 09/01/2026 (e)		8,000		8,576
New Jersey Economic Development Authority, School Facilities Construction SIFMA, Series I, Rev., (SIFMA Municipal Swap Index + 1.60%), 2.51%, 03/01/2028 (aa)		10,000		10,065
New Jersey Economic Development Authority, Self Designated Social Bonds,
Series QQQ, Rev., 4.00%, 06/15/2034		500		501
Series QQQ, Rev., 4.00%, 06/15/2035		500		499
Series QQQ, Rev., 5.00%, 06/15/2026		555		592
Series QQQ, Rev., 5.00%, 06/15/2027		410		443
Series QQQ, Rev., 5.00%, 06/15/2028		400		434
New Jersey Economic Development Authority, Social Bonds, Series QQQ, Rev., 4.00%, 06/15/2046		255		235
New Jersey Economic Development Authority, State House Project,
Series B, Rev., 5.00%, 06/15/2027		10,690		11,536
Series B, Rev., 5.00%, 06/15/2028		8,635		9,375
New Jersey Educational Facilities Authority, Montclair State University, Series D, Rev., 5.00%, 07/01/2028		2,000		2,112


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New Jersey — continued
New Jersey Educational Facilities Authority, Princeton University,
Series B, Rev., 5.00%, 07/01/2024		1,000		1,059
Series I, Rev., 5.00%, 07/01/2036		1,015		1,113
New Jersey Educational Facilities Authority, Ramapo College Of New Jersey, Series A, Rev., AGM, 5.00%, 07/01/2035		200		224
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligated, Rev., 5.00%, 07/01/2032		2,070		2,333
New Jersey Health Care Facilities Financing Authority, Inspira Health Obligated Group, Rev., 5.00%, 07/01/2037		1,600		1,682
New Jersey Higher Education Student Assistance Authority,
Series B, Rev., AMT, 5.00%, 12/01/2024		570		600
Series B, Rev., AMT, 5.00%, 12/01/2027		1,340		1,457
Series B, Rev., AMT, 5.00%, 12/01/2028		1,480		1,611
Series B, Rev., AMT, 5.00%, 12/01/2029		1,440		1,575
New Jersey Higher Education Student Assistance Authority, Senior,
Series A, Rev., AMT, 3.50%, 12/01/2039		150		144
Series B, Rev., AMT, 4.00%, 12/01/2041		250		239
New Jersey Higher Education Student Assistance Authority, Senior Bonds, Series B, Rev., AMT, 5.00%, 12/01/2024		300		316
New Jersey Higher Education Student Assistance Authority, Senior Student Loan, Rev., AMT, 5.00%, 12/01/2023		215		223
New Jersey Higher Education Student Assistance Authority, Subordinated, Series C, Rev., AMT, 4.00%, 12/01/2048		1,195		1,082
New Jersey Housing & Mortgage Finance Agency, Series E, Rev., 3.50%, 04/01/2051		2,725		2,717
New Jersey Housing & Mortgage Finance Agency, Browns Woods Apartments Project, Rev., HUD, 1.25%, 12/01/2024 (z)		850		836
New Jersey Housing & Mortgage Finance Agency, Social Bonds, Series H, Rev., 3.00%, 10/01/2052		835		807
New Jersey Transportation Trust Fund Authority,
Series A, Rev., 4.00%, 06/15/2035		2,000		1,996
Series A, Rev., 5.00%, 12/15/2028		300		327
Series A, Rev., 5.00%, 06/15/2029		1,550		1,694
Series A, Rev., 5.00%, 06/15/2030		3,000		3,284
Series AA, Rev., 4.00%, 06/15/2040		3,750		3,597
Series AA, Rev., 4.00%, 06/15/2050		500		455
Series AA, Rev., 5.00%, 06/15/2029		1,000		1,093
Series AA, Rev., 5.00%, 06/15/2035		3,000		3,207
Series AA, Rev., 5.00%, 06/15/2045		660		688


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New Jersey — continued
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Series A, Rev., BAM, Zero Coupon, 12/15/2038		1,000		497
New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Rev., 5.00%, 06/15/2035		500		536
New Jersey Transportation Trust Fund Authority, Transportation System Bond,
Rev., 4.00%, 12/15/2039		2,000		1,955
Rev., 5.00%, 12/15/2028		1,000		1,089
Rev., 5.00%, 12/15/2031		1,560		1,686
New Jersey Turnpike Authority,
Series A, Rev., 4.00%, 01/01/2042		1,000		999
Series E, Rev., 5.00%, 01/01/2027		1,000		1,102
Newark Board of Education, Sustainability Bonds,
GO, BAM, 4.00%, 07/15/2034		400		403
GO, BAM, 4.00%, 07/15/2035		410		411
GO, BAM, 4.00%, 07/15/2036		425		422
GO, BAM, 4.00%, 07/15/2037		430		426
North Hudson Sewerage Authority, Senior Lien Lease Certificates,
Rev., AGM, 5.00%, 06/01/2039		1,100		1,283
Rev., AGM, 5.00%, 06/01/2040		1,100		1,277
Rev., AGM, 5.00%, 06/01/2041		1,000		1,161
Rev., AGM, 5.00%, 06/01/2042		1,000		1,161
Rutgers The State University of New Jersey, Series L, Rev., 5.00%, 05/01/2043 (p)		1,805		1,854
South Jersey Port Corp., Marine Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2025		500		521
Series B, Rev., AMT, 5.00%, 01/01/2026		1,015		1,069
South Jersey Port Corp., Marine Terminal, Subordinated, Series B, Rev., AMT, 5.00%, 01/01/2037		1,000		1,043
South Jersey Transportation Authority,
Series A, Rev., AGM, 5.00%, 11/01/2030		500		553
Series A, Rev., AGM, 5.00%, 11/01/2033		1,215		1,330
Series A, Rev., BAM, 5.00%, 11/01/2041		2,925		3,183
State of New Jersey, Covid-19 Emergency Bonds, General Obligations,
Series A, GO, 4.00%, 06/01/2030		2,000		2,114
Series A, GO, 4.00%, 06/01/2031		8,340		8,801
Series A, GO, 5.00%, 06/01/2028		4,245		4,726
Series A, GO, 5.00%, 06/01/2029		15,000		16,858
Tender Option Bond Trust Receipts/Certificates, Floaters, Series 2016-XM0226, Rev., BHAC-CR, NATL-RE, LIQ: Bank of America NA, 0.00%, 09/11/2025 (e) (z)		4,720		4,720


				166,791


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New Mexico — 0.4%
Albuquerque Municipal School District No. 12, Series A, GO, 5.00%, 08/01/2024		250		265
City of Farmington, Four Corners Project, Rev., 1.80%, 04/01/2029		3,000		2,587
City of Farmington, Pollution Control Revenue, Public Service Company, New Mexico Sanitary, Series E, Rev., 1.15%, 06/01/2040 (z)		1,000		963
City of Farmington, San Juan And Four Corners, Rev., 2.15%, 04/01/2033		4,890		3,770
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 2.05%, 09/01/2051		1,000		857
New Mexico Finance Authority, Subordinated Lien, Public Project Revolving Fund, Rev., 5.00%, 06/15/2024		1,000		1,058
New Mexico Hospital Equipment Loan Council,
Rev., 5.00%, 06/01/2030		1,050		1,146
Rev., 5.00%, 06/01/2032		1,000		1,069
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare, Rev., 4.00%, 08/01/2037		305		302
New Mexico Mortgage Finance Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,350		1,318
New Mexico Mortgage Finance Authority, Single Family Mortgage Program,
Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		840		820
Series C, Rev., GNMA/FNMA/FHLMC, 4.00%, 01/01/2049		220		223
New Mexico Municipal Energy Acquisition Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 11/01/2039 (z)		3,925		4,136
Santa Fe Public School District, GO, 5.00%, 08/01/2029		1,375		1,551


				20,065

New York — 12.5%
Albany County, Airport Authority, Series B, Rev., AMT, 5.00%, 12/15/2023		1,225		1,270
Broome County, Local Development Corp., United Health Services Hospital,
Rev., AGM, 4.00%, 04/01/2039		2,750		2,711
Rev., AGM, 5.00%, 04/01/2026		500		543
Build NYC Resource Corp., Rev., 5.00%, 07/01/2026		325		344
Build NYC Resource Corp., Academic Leadership Charter School,
Rev., 4.00%, 06/15/2023		100		101
Rev., 4.00%, 06/15/2024		70		71
Build NYC Resource Corp., Family Life Academy Charter, Series A1, Rev., 5.25%, 06/01/2040 (e)		1,220		1,015


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New York — continued
Build NYC Resource Corp., Friends of Hellenic Classical, Series A, Rev., 4.00%, 12/01/2031 (e)		700		663
City of Long Beach,
Series A, GO, 5.00%, 09/01/2025		1,990		2,106
Series A, GO, 5.00%, 09/01/2027		1,500		1,605
City of New York,
Series 1I, GO, 5.00%, 03/01/2026		360		377
Series A1, GO, 4.00%, 08/01/2034		3,000		3,022
Series A1, GO, 4.00%, 08/01/2036		1,000		998
Series A1, GO, 5.00%, 08/01/2029		2,900		3,312
Series A1, GO, 5.00%, 08/01/2041		3,000		3,263
Series A, GO, 5.00%, 08/01/2028		100		111
Series B1, GO, 5.00%, 08/01/2031		1,000		1,154
Series B1, GO, 5.00%, 08/01/2035		90		101
Series B1, GO, 5.00%, 12/01/2037		1,760		1,886
Series C1, GO, 4.00%, 08/01/2022		1,800		1,804
Series C1, GO, 5.00%, 08/01/2031		500		569
Series C, GO, 5.00%, 08/01/2022		60		60
Series C, GO, 5.00%, 08/01/2026		1,500		1,602
Series C, GO, 5.00%, 08/01/2027		330		371
Series D1, GO, 5.00%, 12/01/2024		150		160
Series D1, GO, 5.00%, 12/01/2031		1,380		1,538
Series D1, GO, 5.00%, 12/01/2036		11,955		12,963
Series D1, GO, 5.00%, 12/01/2044		2,560		2,735
Series E, GO, 5.00%, 08/01/2028		1,625		1,846
Series F1, GO, 5.00%, 04/01/2037		2,730		2,933
Series F1, GO, 5.00%, 04/01/2039		5,000		5,341
Series F1, GO, 5.00%, 03/01/2043		1,000		1,088
Series J3, GO, AGM, 1.15%, 06/01/2036 (z)		2,000		2,000
Series J, GO, 5.00%, 08/01/2025		1,320		1,364
City of New York NY, Series C4, GO, AGC, 1.10%, 10/01/2027 (z)		2,000		2,000
City of New York Prerefunded, Series F1, GO, 5.00%, 03/01/2037 (p)		745		762
City of New York, Fiscal 2001,
Series 2, GO, VRDO, 1.32%, 07/01/2022 (z)		120		120
Series 3, GO, VRDO, 1.19%, 07/07/2022 (z)		90		90
City of New York, Fiscal 2008, Series J10, GO, 5.00%, 08/01/2026		505		559
City of New York, Fiscal 2015, Series F4, GO, 5.00%, 06/01/2044 (z)		125		134
City of New York, Fiscal 2020, Series B1, GO, 5.00%, 10/01/2038		5,000		5,486
City of New York, Fiscal 2021,
Series C, GO, 4.00%, 08/01/2037		450		448
Series C, GO, 5.00%, 08/01/2033		2,000		2,238
Series C, GO, 5.00%, 08/01/2035		4,740		5,250
City of New York, Fiscal 2022,
GO, 5.25%, 05/01/2039		200		224
GO, 5.25%, 05/01/2041		2,000		2,244
GO, 5.50%, 05/01/2044		1,000		1,145


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New York — continued
City of New York, Unrefunded, Series F1, GO, 5.00%, 03/01/2037		5		5
County of Dutchess, Local Development Corp., Marist College Project, Series A, Rev., 5.00%, 07/01/2045		485		498
County of Nassau,
Series B, GO, BAM, 5.00%, 10/01/2027		1,450		1,596
Series C, GO, 5.00%, 10/01/2025		1,005		1,088
Dutchess County, Local Development Corp., Health Quest System, Inc. Project, Series B, Rev., 5.00%, 07/01/2046		1,250		1,276
Geneva Development Corp., Hobart & William Smith College, Rev., 5.00%, 09/01/2032 (p)		530		533
Hudson Yards Infrastructure Corp.,
Rev., 4.00%, 02/15/2044		9,335		8,996
Series A, Rev., 5.00%, 02/15/2026		1,050		1,147
Series A, Rev., 5.00%, 02/15/2045		2,210		2,347
Long Island Power Authority,
Rev., 5.00%, 09/01/2042		2,070		2,244
Series A, Rev., 5.00%, 09/01/2037		1,250		1,388
Series B, Rev., 1.50%, 09/01/2051 (z)		5,700		5,398
Long Island Power Authority, 2021, Series A, Rev., 5.00%, 09/01/2042 (p)		40		40
Long Island Power Authority, Notes, Rev., 1.00%, 09/01/2025		2,680		2,513
Long Island Power Authority, Unrefunded 2021, Series A, Rev., 5.00%, 09/01/2042		15		15
Metropolitan Transportation Authority,
Rev., AGM, (United States SOFR * 0.67 + 0.55%), 1.56%, 11/01/2032 (aa)		1,770		1,739
Rev., AGM, (United States SOFR * 0.67 + 0.80%), 1.82%, 11/01/2032 (aa)		430		416
Series A, Rev., 5.25%, 11/15/2030		3,025		3,323
Series A, Rev., 5.25%, 11/15/2034		8,000		8,613
Series B4, Rev., 5.00%, 11/15/2023		2,000		2,082
Series B, Rev., 5.00%, 11/15/2024		340		358
Series B, Rev., 5.00%, 11/15/2025		540		573
Series C, Rev., 5.00%, 11/15/2047 (p)		1,000		1,013
Series D1, Rev., BAN, 5.00%, 09/01/2022		3,000		3,016
Series D1, Rev., 5.00%, 11/01/2028		2,000		2,023
Series D, Rev., 5.00%, 11/15/2027		1,200		1,292
Series D, Rev., 5.00%, 11/15/2038		600		608
Series F, Rev., 5.00%, 11/15/2022		160		162
Series F, Rev., BAN, 5.00%, 11/15/2022		4,400		4,450
Metropolitan Transportation Authority, Build America Bonds, Rev., 6.67%, 11/15/2039		2,500		2,987
Metropolitan Transportation Authority, Green Bond,
Series A1, Rev., BAN, 5.00%, 02/01/2023		400		407
Series A2, Rev., 5.00%, 11/15/2027		1,085		1,168


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New York — continued
Series B, Rev., 5.00%, 11/15/2023		100		104
Series C2, Rev., Zero Coupon, 11/15/2032		500		334
Series C, Rev., 5.00%, 11/15/2040		2,465		2,563
Series D, Rev., 5.00%, 11/15/2034 (z)		5,000		5,219
Series E, Rev., 4.00%, 11/15/2045		60		54
Series E, Rev., 5.00%, 11/15/2029		250		271
Metropolitan Transportation Authority, Green Bonds,
Series A2, Rev., 5.00%, 11/15/2025		1,000		1,062
Series B1, Rev., 5.00%, 11/15/2046		2,000		2,082
Series D1, Rev., 5.00%, 11/15/2043		2,000		2,078
Series D3, Rev., 4.00%, 11/15/2049		1,000		881
Metropolitan Transportation Authority, Green Bonds, Subordinated, Series B1, Rev., 5.00%, 11/15/2036		10,000		10,538
Metropolitan Transportation Authority, Transportation,
Series A1, Rev., 5.00%, 11/15/2044		4,500		4,547
Series A1, Rev., 5.25%, 11/15/2039		1,000		1,017
Series C1, Rev., 5.00%, 11/15/2026		305		325
Metropolitan Transportation Authority, Transportation Green Bonds, Series B, Rev., 5.00%, 11/15/2026		1,720		1,842
Monroe County Industrial Development Corp., Rochester Regional Health Project,
Rev., 5.00%, 12/01/2022		600		608
Rev., 5.00%, 12/01/2027		1,000		1,067
Rev., 5.00%, 12/01/2028		1,700		1,819
Rev., 5.00%, 12/01/2029		1,900		2,038
New York City Health and Hospitals Corp.,
Series A, Rev., 5.00%, 02/15/2024		270		283
Series A, Rev., 5.00%, 02/15/2026		6,055		6,592
Series A, Rev., 5.00%, 02/15/2027		5,360		5,931
Series A, Rev., 5.00%, 02/15/2028		3,760		4,210
Series A, Rev., 5.00%, 02/15/2029		2,485		2,807
New York City Housing Development Corp., Sustainability Bonds,
Rev., FHA, 0.70%, 11/01/2060 (z)		2,500		2,336
Series C2, Rev., 0.70%, 11/01/2060 (z)		1,790		1,669
New York City Housing Development Corp., Sustainable Development Bonds, Series D2, Rev., FHA, 0.70%, 05/01/2060 (z)		1,000		944
New York City Industrial Development Agency, Queens Baseball Stadium Project,
Series A, Rev., AGM, 4.00%, 01/01/2032		1,000		1,027
Series A, Rev., AGM, 5.00%, 01/01/2025		250		264
Series A, Rev., AGM, 5.00%, 01/01/2027		625		680
Series A, Rev., AGM, 5.00%, 01/01/2029		1,000		1,103
Series A, Rev., AGM, 5.00%, 01/01/2030		1,500		1,662
New York City Industrial Development Agency, Yankee Stadium Project Pilot,
Rev., AGM, 4.00%, 03/01/2045		8,825		8,323
Rev., AGM, 5.00%, 03/01/2028		1,250		1,366


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New York — continued
Rev., AGM, 5.00%, 03/01/2029		1,500		1,670
Rev., AGM, 5.00%, 03/01/2030		3,900		4,294
New York City Municipal Water Finance Authority, Second General Resolution,
Rev., VRDO, 0.62%, 07/01/2022 (z)		8,000		8,000
Series GG, Rev., 4.00%, 06/15/2050		5,000		4,864
New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2015, Subordinate, Series S, Rev., 5.00%, 07/15/2040		17,800		18,606
New York City Transitional Finance Authority Building Aid Revenue, Fiscal Year 2015, Series S1, Rev., 5.00%, 07/15/2035		585		613
New York City Transitional Finance Authority Building Aid Revenue, Subordinate,
Series S1, Rev., 4.00%, 07/15/2034		1,000		1,003
Series S1, Rev., 5.00%, 07/15/2031		1,590		1,846
Series S1, Rev., 5.00%, 07/15/2043		1,505		1,581
New York City Transitional Finance Authority Future Tax Secured,
Rev., 5.00%, 11/01/2028		1,000		1,135
Rev., 5.00%, 08/01/2029		3,000		3,420
New York City Transitional Finance Authority Future Tax Secured Revenue,
Rev., 5.25%, 08/01/2042 (w)		3,000		3,383
Series A1, Rev., 4.00%, 11/01/2038		5,000		4,994
Series E1, Rev., 3.00%, 02/01/2028		730		745
Series E1, Rev., 5.00%, 02/01/2023		135		138
Series F1, Rev., 5.00%, 02/01/2039		3,000		3,320
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured, Rev., 4.00%, 11/01/2035		7,000		7,061
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured Subordinate, Series B1, Rev., 5.00%, 08/01/2038		1,000		1,061
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate,
Rev., 4.00%, 05/01/2038		2,000		1,997
Rev., 5.00%, 11/01/2025		255		277
Series A1, Rev., 5.00%, 08/01/2042		2,000		2,154
Series B1, Rev., 4.00%, 08/01/2042		815		803
Series DS, Rev., 4.00%, 11/01/2038		4,000		3,995
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate, Future Tax Secured, Rev., 3.75%, 11/01/2025		8,000		8,027
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated,
Rev., 5.00%, 05/01/2031		1,000		1,151
Series A3, Rev., 4.00%, 05/01/2042		2,000		1,971
Series A3, Rev., 5.00%, 08/01/2040		1,720		1,842


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New York — continued
New York City Transitional Finance Authority Future Tax Secured Revenue, Taxable Subordinate, Series F2, Rev., 2.85%, 05/01/2025		6,600		6,490
New York City Transitional Finance Authority, Future Tax Secured, Rev., 5.00%, 11/01/2026		375		415
New York City Transitional Finance Authority, Future Tax Secured Revenue, Series I, Rev., 5.00%, 05/01/2027		345		354
New York City Trust for Cultural Resources, Refunding Lincoln Center, Series A, Rev., 5.00%, 12/01/2032		500		568
New York City Water & Sewer System,
Series AA2, Rev., 5.00%, 06/15/2029		1,350		1,553
Series BB2, Rev., 5.00%, 06/15/2027		1,500		1,637
Series FF, Rev., 5.00%, 06/15/2041		2,000		2,204
Series GG1, Rev., 5.00%, 06/15/2030		1,000		1,161
Series GG, Rev., 5.00%, 06/15/2039		2,660		2,813
New York City Water & Sewer System, Second General Resolution,
Rev., 5.00%, 06/15/2026		880		970
Rev., 5.00%, 06/15/2029		870		1,000
Rev., 5.00%, 06/15/2047		14,655		14,844
Series CC1, Rev., 5.00%, 06/15/2048		2,730		2,921
Series CC1, Rev., 5.25%, 06/15/2037		2,345		2,582
Series DD1, Rev., 5.00%, 06/15/2048		3,115		3,345
Series DD2, Rev., 5.00%, 06/15/2040		2,000		2,159
Series DD, Rev., 5.00%, 06/15/2047		6,680		7,187
New York City Water & Sewer System, Various Second General Resolution, Series BB4, Rev., VRDO, 0.62%, 07/01/2022 (z)		2,000		2,000
New York City Water & Sewer System, Water And Sewer System Revenue Second General Resolution, Series BB2, Rev., 4.00%, 06/15/2042		1,180		1,167
New York City, Water & Sewer System, Series BB1, Rev., 5.00%, 06/15/2049		500		539
New York Liberty Development Corp.,
Series 1WTC, Rev., 3.00%, 02/15/2042		1,755		1,393
Series 1WTC, Rev., 4.00%, 02/15/2043		1,000		961
New York Liberty Development Corp., World Trade Center Project, Series 1, Rev., 5.00%, 11/15/2044 (e)		7,400		7,196
New York Power Authority, Green Transmission Project,
Rev., AGM, 4.00%, 11/15/2036		145		146
Rev., AGM, 5.00%, 11/15/2028		1,000		1,143
Rev., AGM, 5.00%, 11/15/2033		1,700		1,955
Rev., AGM, 5.00%, 11/15/2034		1,385		1,582
Rev., AGM, 5.00%, 11/15/2035		1,250		1,419
New York State Dormitory Authority,
Series 2015-B, Rev., 5.00%, 03/15/2027		1,000		1,082
Series A, Rev., 4.00%, 03/15/2038		250		247


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New York — continued
Series A, Rev., 4.00%, 03/15/2039		1,000		985
Series A, Rev., 5.00%, 03/15/2024 (p)		100		105
Series A, Rev., 5.00%, 03/15/2029		3,000		3,404
Series A, Rev., 5.00%, 03/15/2034		2,000		2,164
Series A, Rev., 5.00%, 03/15/2040		1,000		1,070
Series D, Rev., 5.00%, 02/15/2027		770		855
New York State Dormitory Authority, Bidding Group 1, Series E, Rev., 5.00%, 03/15/2029		3,000		3,404
New York State Dormitory Authority, Cornell University, Series A, Rev., 5.00%, 07/01/2031		1,000		1,179
New York State Dormitory Authority, Exchange Bonds, Series C, Rev., 5.00%, 07/01/2031		1,227		1,410
New York State Dormitory Authority, General Purpose, Series D, Rev., 5.00%, 02/15/2026		100		110
New York State Dormitory Authority, Group 1, Series A, Rev., 5.00%, 03/15/2024 (p)		2,000		2,106
New York State Dormitory Authority, Group 2,
Series A, Rev., 5.00%, 03/15/2031		1,000		1,145
Series A, Rev., 5.00%, 03/15/2033		2,000		2,265
Series A, Rev., 5.00%, 03/15/2036		2,015		2,182
New York State Dormitory Authority, Group 3, Series A, Rev., 5.00%, 03/15/2037		5,000		5,395
New York State Dormitory Authority, Montefiore Obligated Group,
Series A, Rev., 5.00%, 08/01/2025		2,035		2,137
Series A, Rev., 5.00%, 08/01/2026		900		953
Series A, Rev., 5.00%, 08/01/2031		1,010		1,043
New York State Dormitory Authority, Municipal Health Facilities, Rev., 4.00%, 01/15/2023		50		50
New York State Dormitory Authority, New York University, Series A, Rev., 4.00%, 07/01/2035		620		623
New York State Dormitory Authority, Northwell Health Obligated Group, Rev., 4.25%, 05/01/2052		4,930		4,652
New York State Dormitory Authority, Rockefeller University, Series A, Rev., 5.00%, 07/01/2038		1,000		1,000
New York State Dormitory Authority, School Districts Financing Program, Series A, Rev., AGM, 5.00%, 10/01/2025		1,460		1,581
New York State Dormitory Authority, St. John’s University, Series A, Rev., 4.00%, 07/01/2048		1,000		922
New York State Dormitory Authority, State University Dormitory Facilities, Series A, Rev., 5.00%, 07/01/2023 (p)		150		150
New York State Dormitory Authority, Yeshiva University, Series A, Rev., 5.00%, 07/15/2037 (w)		2,500		2,556


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New York — continued
New York State Environmental Facilities Corp., Green Bond 2010 Master Finance,
Rev., 4.00%, 08/15/2036		720		725
Rev., 4.00%, 08/15/2037		1,760		1,760
Rev., 4.00%, 08/15/2038		1,000		995
New York State Environmental Facilities Corp., Municipal Water, Subordinated, Rev., 5.00%, 06/15/2042		2,655		2,865
New York State Environmental Facilities Corp., Solid Waste Disposal Revenue, Casella Waste System Incorporate Project, Rev., AMT, 2.75%, 09/01/2050 (e) (z)		250		237
New York State Housing Finance Agency, Sustainability Bonds,
Series I, Rev., SONYMA, 0.70%, 11/01/2056 (z)		2,375		2,199
Series J, Rev., HUD, SONYMA, 1.10%, 11/01/2061 (z)		4,170		3,755
Series K2, Rev., HUD, SONYMA, 1.00%, 11/01/2061 (z)		2,320		2,118
Series K, Rev., SONYMA, 0.70%, 11/01/2024		1,085		1,042
Series P, Rev., 1.55%, 11/01/2023		260		258
New York State Thruway Authority,
Series A1, Rev., 4.00%, 03/15/2041		500		494
Series A1, Rev., 5.00%, 03/15/2033		1,000		1,137
Series L, Rev., 5.00%, 01/01/2024		75		78
New York State Thruway Authority, Group 2, Series N, Rev., 4.00%, 01/01/2041		3,120		3,054
New York State Urban Development Corp., Bidding Group 1, Series A, Rev., 5.00%, 03/15/2034		1,690		1,925
New York State Urban Development Corp., Personal Income Tax,
Rev., 4.00%, 03/15/2037		2,000		1,992
Rev., 4.00%, 03/15/2041		5,000		4,912
Rev., 5.00%, 03/15/2030		500		570
Series C3, Rev., 5.00%, 03/15/2038		1,860		2,012
New York State Urban Development Corp., State Personal Income Tax,
Rev., 4.00%, 03/15/2042		2,000		1,952
Rev., 5.00%, 03/15/2028		1,250		1,403
Rev., 5.00%, 03/15/2034		3,000		3,137
Series A, Rev., 5.00%, 03/15/2024		1,000		1,052
New York State Urban Development Corp., State Personal Income Tax, General Purpose,
Series A, Rev., 5.00%, 03/15/2042		5,000		5,380
Series B, Rev., 3.54%, 03/15/2028		7,000		6,868
New York Transportation Development Corp., American Airlines, Inc., Rev., AMT, 2.25%, 08/01/2026		945		885
New York Transportation Development Corp., Delta Air Lines, Inc. LaGuardia, Rev., AMT, 5.00%, 01/01/2032		3,000		3,053


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New York — continued
New York Transportation Development Corp., Delta Air Lines Inc., LaGuardia, Rev., AMT, 5.00%, 10/01/2035		10,000		10,113
New York Transportation Development Corp., LaGuardia Airport Terminal B,
Rev., AMT, 5.00%, 07/01/2046		3,805		3,889
Rev., AMT, 5.25%, 01/01/2050		2,000		2,050
New York Transportation Development Corp., New York State Thruway, Rev., AMT, 4.00%, 10/31/2034		600		555
New York Transportation Development Corp., Terminal 4 JFK International,
Rev., AMT, 5.00%, 12/01/2030		1,710		1,814
Rev., AMT, 5.00%, 12/01/2032		2,005		2,113
Rev., AMT, 5.00%, 12/01/2033		1,000		1,046
Rev., AMT, 5.00%, 12/01/2037		3,500		3,651
Rev., AMT, 5.00%, 12/01/2038		1,000		1,042
New York Transportation Development Corp., Terminal 4 John F Kennedy International,
Rev., AMT, 4.00%, 12/01/2038		300		280
Rev., AMT, 4.00%, 12/01/2039		300		279
Rev., AMT, 4.00%, 12/01/2040		1,475		1,361
Rev., AMT, 4.00%, 12/01/2041		300		274
Rev., AMT, 4.00%, 12/01/2042		300		272
Rev., 5.00%, 12/01/2024		200		211
Rev., 5.00%, 12/01/2025		200		212
Rev., 5.00%, 12/01/2026		200		214
Rev., 5.00%, 12/01/2027		200		215
Rev., 5.00%, 12/01/2028		200		213
Rev., 5.00%, 12/01/2037		250		262
Rev., 5.00%, 12/01/2038		250		262
Port Authority of New York & New Jersey,
Series 207, Rev., AMT, 5.00%, 09/15/2031		5,000		5,380
Series 223, Rev., AMT, 5.00%, 07/15/2023		1,220		1,256
Series 226, Rev., AMT, 5.00%, 10/15/2031		4,500		5,068
Series 226, Rev., AMT, 5.00%, 10/15/2032		1,250		1,389
Series 226, Rev., AMT, 5.00%, 10/15/2036		2,040		2,226
Port Authority of New York & New Jersey, Consolidated,
Series 197, Rev., AMT, 5.00%, 11/15/2032		3,000		3,163
Series 206, Rev., AMT, 5.00%, 11/15/2032		3,000		3,220
Series 221, Rev., AMT, 5.00%, 07/15/2031		1,620		1,797
Series 221, Rev., AMT, 5.00%, 07/15/2032		1,500		1,657


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

New York — continued
Port Authority of New York & New Jersey, Consolidated One Hundred Eighty,
Rev., AMT, 5.00%, 09/01/2026		3,000		3,131
Series 222, Rev., 4.00%, 07/15/2036		10,250		10,254
Series 222, Rev., 5.00%, 07/15/2034		5,000		5,562
State of New York Mortgage Agency, Social Bond, Series 239, Rev., SONYMA, 3.25%, 10/01/2051		295		288
State of New York Mortgage Agency, Social Bonds,
Series 233, Rev., 3.00%, 10/01/2045		2,635		2,579
Series 235, Rev., AMT, 0.30%, 10/01/2022		200		200
Series 235, Rev., AMT, 0.40%, 04/01/2023		215		212
Series 235, Rev., AMT, 0.55%, 10/01/2023		190		186
State of New York Mortgage Agency, Social Bonds 242, Rev., SONYMA, 3.50%, 10/01/2052		110		109
Tender Option Bond Trust Receipts/Certificates, Series 2020-ZF0950, Rev., VRDO, LIQ: Toronto Dominion Bank, 0.94%, 07/07/2022 (e) (z)		7,020		7,020
Triborough Bridge & Tunnel Authority,
Series A1, Rev., 5.00%, 05/15/2051		7,175		7,785
Series A2, Rev., 2.00%, 05/15/2045 (z)		4,250		4,040
Series A, Rev., BAN, 5.00%, 11/01/2025		3,165		3,444
Series A, Rev., 5.00%, 11/15/2038		1,000		1,011
Series A, Rev., 5.00%, 11/15/2041		1,975		2,112
Series A, Rev., 5.00%, 11/15/2049		3,040		3,262
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Rev., 5.00%, 05/15/2047		5,250		5,751
Triborough Bridge & Tunnel Authority, Senior, Series C, Rev., 5.00%, 05/15/2040		5,000		5,559
Triborough Bridge & Tunnel Authority, Senior Lien,
Rev., 5.00%, 05/15/2050 (z)		7,000		7,647
Series C1-A, Rev., 5.00%, 05/15/2038		2,000		2,229
Triborough Bridge & Tunnel Authority, Senior Lien MTA Bridges & Tunnels,
Rev., 5.00%, 05/15/2035 (w)		2,000		2,265
Rev., 5.00%, 05/15/2036 (w)		2,000		2,256
Rev., 5.00%, 05/15/2038 (w)		4,240		4,742
Triborough Bridge & Tunnel Authority, Subordinated, Series A, Rev., 5.00%, 11/15/2025		50		51
Troy Capital Resource Corp., Rensselaer Polytechnic Institute, Rev., 4.00%, 09/01/2036		750		726
TSASC, Inc., Series B, Rev., 5.00%, 06/01/2048		6,780		6,449


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
New York — continued
Utility Debt Securitization Authority, Restructuring,
Rev., 5.00%, 12/15/2025		15		16
Series TE, Rev., 5.00%, 12/15/2033		3,150		3,282
Westchester County Industrial Development Agency, Marble Hall Tuckahoe Limited, Rev., FHA, 0.28%, 04/01/2024 (z)		270		265
Westchester County Local Development Corp., Purchase Senior Learning, Rev., 2.88%, 07/01/2026 (e)		500		467
Western Regional Off-Track Betting Corp., Rev., 3.00%, 12/01/2026 (e)		445		409


				633,768

North Carolina — 1.5%
Charlotte-Mecklenburg Hospital Authority (The), Atrium Health, Series C, Rev., 5.00%, 01/15/2048 (z)		20,000		20,432
Charlotte-Mecklenburg Hospital Authority (The), Atrium Health Obligation Group, Rev., 4.00%, 01/15/2043		160		158
Charlotte-Mecklenburg Hospital Authority, Atrium Health, Series B, Rev., 1.95%, 01/15/2048 (z)		2,285		2,110
City of Charlotte Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2023		1,750		1,800
City of Charlotte Airport Special Facilities Revenue, Charlotte Douglas International,
Rev., 5.00%, 07/01/2049		5,000		5,323
Rev., AMT, 5.00%, 07/01/2049		5,000		5,246
City of Charlotte, 2003 Governmental Facilities Project, COP, VRDO, LIQ: Wells Fargo Bank NA, 0.90%, 07/07/2022 (z)		2,600		2,600
City of Charlotte, Airport Special Facilities Revenue, Series B, Rev., AMT, 5.00%, 07/01/2027		1,315		1,445
City of Charlotte, Water & Sewer System Revenue, Rev., 5.00%, 07/01/2027		1,000		1,128
City of Goldsboro, Grand At Day Point Project, Rev., HUD, GNMA COLL, 0.28%, 05/01/2024 (z)		2,785		2,711
County of Cumberland, Qualified School Construction Bonds, COP, 1.25%, 12/15/2025		4,000		3,687
County of Wake, Rev., 5.00%, 03/01/2023		120		123
Durham Housing Authority, J.J. Henderson, Rev., HUD, 0.30%, 06/01/2024 (z)		165		161
North Carolina Housing Finance Agency,
Series 37A, Rev., AMT, 3.50%, 07/01/2039		65		65
Series 44, Rev., 4.00%, 07/01/2050		370		376
Series 45, Rev., GNMA/FNMA/FHLMC COLL, 1.90%, 01/01/2032		1,555		1,329


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

North Carolina — continued
North Carolina Housing Finance Agency, Home Ownership, Series 47, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2051		1,000		976
North Carolina Housing Finance Agency, Wind Crest Senior Living, Rev., 0.36%, 06/01/2024 (z)		825		814
North Carolina Medical Care Commission, CaroMont Health,
Series A, Rev., 4.00%, 02/01/2036		500		496
Series B, Rev., 5.00%, 02/01/2051 (z)		790		857
North Carolina Medical Care Commission, Lutheran Services for the Aging, Rev., 4.00%, 03/01/2041		1,050		842
North Carolina Medical Care Commission, Presbyterian Homes Obligations,
Series A, Rev., 4.00%, 10/01/2027		600		600
Series A, Rev., 4.00%, 10/01/2040		1,200		1,067
Series A, Rev., 4.00%, 10/01/2045		2,250		1,920
North Carolina Medical Care Commission, Rex Healthcare, Series A, Rev., 5.00%, 07/01/2031		1,760		1,948
North Carolina Medical Care Commission, The Forest at Duke Project, Rev., 4.00%, 09/01/2041		830		772
North Carolina Turnpike Authority, Rev., BAN, 5.00%, 02/01/2024		4,130		4,300
North Carolina Turnpike Authority, Senior Lien, Rev., AGM, 5.00%, 01/01/2038		2,375		2,606
North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien, Rev., AGM, 5.00%, 01/01/2049		1,000		1,092
Raleigh Durham Airport Authority, Series A, Rev., AMT, 5.00%, 05/01/2032		1,200		1,302
State of North Carolina, Build Nc Programs, Series B, Rev., 5.00%, 05/01/2027		2,750		3,086
State of North Carolina, Grant Anticipation Revenue, Rev., 5.00%, 03/01/2029		1,000		1,132
University of North Carolina at Chapel Hill, University Of North Carolina at Chapel Hill, Rev., (United States SOFR * 0.67 + 0.65%), 1.66%, 12/01/2041 (aa)		1,250		1,239
Western Carolina University, Series B, Rev., 5.00%, 04/01/2031		2,120		2,378


				76,121

North Dakota — 0.3%
Cass County Joint Water Resource District, Series A, GO, 0.48%, 05/01/2024		3,635		3,469
City of Grand Forks, Altru Health System,
Rev., 5.00%, 12/01/2027		595		645
Rev., 5.00%, 12/01/2031		1,900		2,087
City of West Fargo, Series A, GO, 2.00%, 05/01/2023		525		526


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
North Dakota — continued
North Dakota Housing Finance Agency,
Series B, Rev., 3.00%, 07/01/2051		2,235		2,194
Series C, Rev., 4.00%, 01/01/2050		885		898
North Dakota Housing Finance Agency, Home Mortgage Financing Program, Series A, Rev., 3.00%, 01/01/2052		50		49
North Dakota Housing Finance Agency, Housing Finance Program, Home Mortgage Finance, Series D, Rev., 4.25%, 01/01/2049		3,050		3,111
North Dakota Housing Finance Agency, Social Bonds, Series B, Rev., 3.00%, 07/01/2052		1,085		1,052
University of North Dakota, Series A, COP, AGM, 4.00%, 06/01/2046		1,480		1,437
West Fargo Public School District No. 6, Series C, GO, 4.00%, 08/01/2026		300		318


				15,786

Ohio — 2.3%
Akron Bath Copley Joint Township Hospital District, Rev., 5.25%, 11/15/2046		1,605		1,664
Akron Bath Copley Joint Township Hospital District, Children’s Hospital Medical, Rev., 4.00%, 11/15/2042		1,265		1,204
Akron Bath Copley Joint Township Hospital District, Summa Health Obligations,
Rev., 4.00%, 11/15/2034		500		492
Rev., 4.00%, 11/15/2035		1,000		978
Rev., 4.00%, 11/15/2038		750		723
American Municipal Power, Inc., Fremont Energy Center Project,
Rev., 4.00%, 02/15/2036		1,750		1,776
Rev., 5.00%, 02/15/2026		600		656
Buckeye Tobacco Settlement Financing Authority, Series B2, Rev., 5.00%, 06/01/2055		10,815		10,184
Buckeye Tobacco Settlement Financing Authority, Senior, Series A2, Rev., 4.00%, 06/01/2048		2,210		2,010
City of Cincinnati, Mercer Commons Phase 2 Project, Rev., 5.00%, 11/01/2035		1,085		1,162
Cleveland Department of Public Utilities, Division of Water, Series FF, Rev., 5.00%, 01/01/2026		300		327
Columbus-Franklin County Finance Authority, Bridge Park D Block Project, Series A, Rev., 5.00%, 12/01/2051		1,000		988
County of Allen, Hospital Facilities Revenue, Series A, Rev., 5.00%, 08/01/2027		50		55
County of Cuyahoga, Series D, Rev., 5.00%, 12/01/2026		3,500		3,884
County of Geauga, South Franklin Circle Project, Series A, Rev., 8.00%, 12/31/2047 (p) (z)		5,965		6,268


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Ohio — continued
County of Hamilton, Trihealth, Inc. Obligated Group, Rev., 5.00%, 08/15/2040		1,510		1,598
County of Montgomery, Dayton Children’s Hospital,
Rev., 5.00%, 08/01/2027		725		803
Rev., 5.00%, 08/01/2029		145		163
Rev., 5.00%, 08/01/2033		230		255
County of Montgomery, Kettering Health Network Obligations,
Rev., 4.00%, 08/01/2037		525		517
Rev., 4.00%, 08/01/2041		1,200		1,162
Dayton Metropolitan Housing Authority, Southern Montgomery Apartments, Rev., HUD, 0.32%, 09/01/2024 (z)		1,505		1,465
Hamilton City School District, Various Purpose, GO, 5.00%, 12/01/2034 (p)		1,500		1,604
Lancaster Port Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 08/01/2049 (z)		5,000		5,244
Miami University,
Series A, Rev., 5.00%, 09/01/2028		515		579
Series A, Rev., 5.00%, 09/01/2030		1,005		1,154
Northeast Ohio Medical University, Series A, Rev., 4.00%, 12/01/2035		250		244
Ohio Air Quality Development Authority, American Electric Power Company, Series A, Rev., AMT, 2.10%, 01/01/2029 (z)		1,250		1,213
Ohio Air Quality Development Authority, Dayton Power & Light, Rev., AMT, 4.25%, 11/01/2040 (z)		7,000		7,055
Ohio Air Quality Development Authority, Duke Energy, Rev., AMT, 4.25%, 11/01/2039 (z)		7,205		7,294
Ohio Air Quality Development Authority, Ohio Valley Electric Corp., Rev., AMT, 2.50%, 11/01/2042 (z)		1,000		902
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project,
Rev., 1.38%, 02/01/2026 (z)		1,875		1,760
Rev., 1.50%, 02/01/2026 (z)		120		110
Ohio Higher Educational Facility Commission, Case Western Reserve, Rev., (SIFMA Municipal Swap Index + 0.23%), 1.14%, 12/01/2042 (aa)		155		152
Ohio Higher Educational Facility Commission, Otterbein Homes Obligated, Rev., 4.00%, 07/01/2023		75		76
Ohio Higher Educational Facility Commission, Senior University Circle, Inc. Project, Rev., 5.00%, 01/15/2037		265		274
Ohio Higher Educational Facility Commission, University Of Dayton, Rev., 5.00%, 02/01/2034		1,125		1,222


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Ohio — continued
Ohio Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.50%, 09/01/2048		1,130		1,160
Ohio Housing Finance Agency, Chevybrook Estates Apartments Project, Rev., 0.35%, 03/01/2024 (z)		35		35
Ohio Housing Finance Agency, Franklin Manor North Project, Rev., HUD, 0.25%, 09/01/2024 (z)		160		154
Ohio Housing Finance Agency, Glen Meadows Apartments, Rev., HUD, 0.40%, 11/01/2024 (z)		620		601
Ohio Housing Finance Agency, Marianna Terrace Apartments, Rev., HUD, 1.30%, 03/01/2025 (z)		330		323
Ohio Housing Finance Agency, Pendleton Apartments Project, Rev., HUD, 0.26%, 03/01/2025 (z)		150		148
Ohio Housing Finance Agency, Post Oak Station, Rev., HUD, 3.35%, 07/01/2025 (z)		295		297
Ohio State University (The), Green Bonds Multiyear Debt Issue, Rev., 5.00%, 12/01/2022		2,000		2,029
Ohio Turnpike & Infrastructure Commission, Junior Lien Infrastructure,
Rev., 5.00%, 02/15/2028 (w)		500		552
Rev., 5.00%, 02/15/2029 (w)		1,445		1,611
Rev., 5.00%, 02/15/2032 (w)		270		307
Rev., 5.00%, 02/15/2033 (w)		365		417
Rev., 5.00%, 02/15/2039 (w)		3,000		3,344
Ohio Turnpike & Infrastructure Commission, Junior Lien, Infrastructure Project,
Rev., 5.00%, 02/15/2025		455		465
Rev., 5.25%, 02/15/2029		1,500		1,533
Ohio Water Development Authority,
Series A, Rev., 5.00%, 06/01/2029		500		575
Series A, Rev., 5.00%, 12/01/2035		1,000		1,139
Ohio Water Development Authority Water Pollution Control Loan Fund, Green Bond, Series A, Rev., 5.00%, 12/01/2034		160		184
Ohio Water Development Authority, Fresh Water, Series A, Rev., 5.00%, 06/01/2023		155		160
Ohio Water Development Authority, Water Pollution Control Loan Fund, Series A, Rev., VRDO, 0.85%, 07/07/2022 (z)		3,500		3,500
State of Ohio,
Series A, GO, 5.00%, 09/15/2022		95		96
Series A, GO, 5.00%, 09/01/2024		130		138
Series A, GO, 5.00%, 02/01/2038 (p)		3,000		3,290
Series X, GO, 5.00%, 05/01/2035		300		346
State of Ohio, Cleveland Clinic Health System,
Rev., 5.00%, 01/01/2023		80		81


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Ohio — continued
Rev., 5.00%, 01/01/2033		2,410		2,725
Rev., 5.00%, 01/01/2034		2,425		2,733
Rev., 5.00%, 01/01/2039		570		631
Series A, Rev., 5.00%, 01/01/2027		940		1,046
State of Ohio, Common Schools, Series C, GO, 5.00%, 03/15/2030		125		144
State of Ohio, Garvee,
Series 1A, Rev., 5.00%, 12/15/2025		800		873
Series 1A, Rev., 5.00%, 12/15/2028		1,000		1,142
State of Ohio, Higher Education,
Series A, GO, 5.00%, 05/01/2032		10,000		10,988
Series C, GO, 5.00%, 08/01/2028 (p)		350		398
State of Ohio, Infrastructure Improvement, GO, 5.00%, 03/01/2034		1,000		1,156
State of Ohio, Natural Resources, Series S, GO, 5.00%, 04/01/2024 (p)		180		185
State of Ohio, Premier Health Partners,
Rev., 4.00%, 11/15/2039		1,320		1,228
Rev., 4.00%, 11/15/2041		1,450		1,334
Rev., 5.00%, 11/15/2028		680		739
State of Ohio, University Hospitals Health, Rev., 4.00%, 01/15/2037		1,000		991
State of Ohio, University Hospitals Health System, Series A, Rev., 5.00%, 01/15/2041		1,000		1,038


				117,053

Oklahoma — 0.4%
Oklahoma City Economic Development Trust, Increment District #8 Project,
Rev., 4.00%, 03/01/2032		1,640		1,745
Rev., 4.00%, 03/01/2033		5,000		5,294
Rev., 4.00%, 03/01/2034		4,440		4,683
Oklahoma Development Finance Authority, Gilcrease Expressway West, Rev., AMT, 1.63%, 07/06/2023		1,100		1,082
Oklahoma Development Finance Authority, Integris, Series A, Rev., 4.00%, 08/15/2038		2,000		1,942
Oklahoma Development Finance Authority, OU Medicine Project, Series B, Rev., 5.50%, 08/15/2057		6,000		5,442
Tulsa County Independent School District No. 1 Tulsa, Series B, GO, 2.00%, 09/01/2026		1,500		1,460


				21,648

Oregon — 0.7%
City of Portland Water System Revenue, Second Lien, Series A, Rev., 5.00%, 05/01/2033		1,825		2,062
Hospital Facilities Authority of Multnomah County Oregon, Green Bond Terwilliger, Rev., 0.95%, 06/01/2027		1,200		1,061


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Oregon — continued
Jackson County School District No. 5 Ashland, GO, SCH BD GTY, 5.00%, 06/15/2030		1,000		1,133
Medford Hospital Facilities Authority, Asante Project, Series A, Rev., AGM, 4.00%, 08/15/2045		1,330		1,274
Multnomah County School District No. 1 Portland, GO, SCH BD GTY, 5.00%, 06/15/2028		1,850		2,104
Oregon Health & Science University, Series B1, Rev., 5.00%, 07/01/2046 (z)		1,500		1,638
Oregon State Business Development Commission, Intel Corp. Project, Series 232, Rev., 2.40%, 12/01/2040 (z)		200		200
Oregon State Facilities Authority, Providence Health and Services, Series A, Rev., 5.00%, 10/01/2022		80		81
Oregon State Facilities Authority, Samaritan Health Services Project, Rev., 5.00%, 10/01/2031		1,740		1,818
Port of Portland Airport Revenue,
Series 27A, Rev., AMT, 5.00%, 07/01/2028		1,595		1,745
Series 27A, Rev., AMT, 5.00%, 07/01/2036		1,000		1,078
Port of Portland Airport Revenue, Portland International Airport, Series 25B, Rev., AMT, 5.00%, 07/01/2039		1,020		1,085
Salem Hospital Facility Authority, Capital Manor Project,
Rev., 4.00%, 05/15/2032		185		173
Rev., 4.00%, 05/15/2040		750		668
Salem Hospital Facility Authority, Multi Model, Salem Health Projects, Series A, Rev., 5.00%, 05/15/2023		100		103
State of Oregon, Series N, GO, 5.00%, 12/01/2023		1,890		1,893
State of Oregon Department of Transportation, Subordinate, Series A, Rev., 5.00%, 11/15/2036		9,095		10,100
State of Oregon Housing & Community Services Department, Single Family Mortgage Program, Series A, Rev., 3.00%, 07/01/2052		645		630
State of Oregon Housing & Community Services Department, The Susan Emmons Apartment, Rev., HUD, 0.38%, 06/01/2024 (z)		945		914
State of Oregon Housing & Community Services Department, Westwind Apartments Project, Rev., HUD, 0.25%, 03/01/2024 (z)		30		30
State of Oregon, Article XI Q, Series F, GO, 5.00%, 05/01/2030		100		109


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Oregon — continued
State of Oregon, Article Xi-M & Xi-N Seismic, GO, 5.00%, 06/01/2030		1,995		2,323
State of Oregon, Veterans Welfare Bonds Series, GO, 3.00%, 12/01/2051		1,455		1,403
University of Oregon, Series A, Rev., 5.00%, 04/01/2048		1,000		1,071
Yamhill County Hospital Authority, Friendsview, Series B3, Rev., 1.75%, 11/15/2026		2,000		1,853


				36,549

Pennsylvania — 6.2%
Allegheny County Airport Authority, Series A, Rev., AGM, AMT, 4.00%, 01/01/2046		11,800		11,121
Allegheny County Hospital Development Authority, Health Network Obligations,
Rev., 5.00%, 04/01/2033		1,000		1,060
Series A, Rev., 5.00%, 04/01/2047		3,000		3,101
Allegheny County Hospital Development Authority, University Pittsburgh Medical Center, Rev., 4.00%, 07/15/2038		1,375		1,338
Allegheny County, Hospital Development Authority, Health Network Obligations, Series A, Rev., 5.00%, 04/01/2023		1,000		1,024
Allegheny County, Hospital Development Authority, Pittsburg University Medical Center,
Series A, Rev., 4.00%, 07/15/2036		2,200		2,164
Series A, Rev., 5.00%, 07/15/2027		765		835
Allegheny County, Sanitary Authority,
Series B, Rev., 4.00%, 06/01/2035		400		408
Series B, Rev., 4.00%, 06/01/2036		675		685
Series B, Rev., 5.00%, 06/01/2030		500		569
Series B, Rev., 5.00%, 06/01/2032		550		641
Series B, Rev., 5.00%, 06/01/2033		600		696
Allentown Neighborhood Improvement Zone Development Authority, Forward Delivery, Rev., 5.00%, 05/01/2042		1,000		1,046
Allentown Neighborhood Improvement Zone Development Authority, Senior Tax Revenue, Rev., 6.00%, 05/01/2042 (e)		180		187
Altoona Area School District, GO, BAM, 5.00%, 12/01/2048 (p)		1,000		1,091
Bentworth School District, Series A, GO, BAM, 4.00%, 03/15/2025		1,380		1,441
Berks County Industrial Development Authority, Tower Health Project,
Rev., 4.00%, 11/01/2050		1,500		1,103
Rev., 5.00%, 11/01/2047		3,155		2,803
Bethlehem Area School District Authority, Bethlehem Area School District,
Rev., (United States SOFR * 0.67 + 0.35%), 1.37%, 01/01/2030 (aa)		230		221
Rev., (United States SOFR * 0.67 + 0.35%), 1.37%, 07/01/2031 (aa)		315		303


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Pennsylvania — continued
Rev., (United States SOFR * 0.67 + 0.35%), 1.37%, 01/01/2032 (aa)		240		230
Bucks County, Industrial Development Authority, Waste Management, Inc. Project, Rev., AMT, 2.75%, 12/01/2022		100		100
Capital Region Water, Water Revenue, Rev., 5.00%, 07/15/2032		1,000		1,119
Chester County Health and Education Facilities Authority, Main Line Health System, Series B, Rev., 5.00%, 06/01/2024		1,000		1,052
City of Philadelphia,
GO, AGM, 5.00%, 08/01/2031		1,795		1,958
Series A, GO, 5.00%, 08/01/2030		4,000		4,304
City of Philadelphia Airport Revenue,
Series A, Rev., 5.00%, 07/01/2047		5,000		5,194
Series C, Rev., AMT, 4.00%, 07/01/2050		1,500		1,385
Series C, Rev., AMT, 5.00%, 07/01/2028		10,000		10,963
City of Philadelphia Airport Revenue, Private Activity, Rev., AGM, AMT, 4.00%, 07/01/2041		1,100		1,057
City of Philadelphia, Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2035		2,235		2,337
City of Philadelphia, Airport Revenue, Private Activity, Rev., AGM, AMT, 4.00%, 07/01/2046		3,750		3,532
City of Philadelphia, Water & Wastewater Revenue, Series A, Rev., 5.00%, 11/01/2040		2,790		3,069
City of Pittsburgh,
GO, 5.00%, 09/01/2030		500		557
Series B, GO, 5.00%, 09/01/2025 (p)		130		131
Commonwealth of Pennsylvania,
Series 1, GO, 4.00%, 03/15/2034		5,000		5,052
Series 1, GO, 4.00%, 03/01/2035		3,650		3,703
Series 1, GO, 4.00%, 03/15/2035		2,000		2,014
County of Allegheny, Series C75, GO, 5.00%, 11/01/2028		2,305		2,553
County of Berks, GO, 4.00%, 11/15/2027 (p)		225		232
County of Lehigh, St. Luke’s Hospital Project, Rev., (SIFMA Municipal Swap Index + 1.10%), 2.01%, 08/15/2038 (aa)		355		350
Cumberland County Municipal Authority, Rev., 5.00%, 05/01/2030		1,000		1,084
Cumberland Valley School District,
GO, 5.00%, 11/15/2032 (p)		150		156
GO, 5.00%, 11/15/2034 (p)		140		146
Delaware River Port Authority,
Rev., 5.00%, 01/01/2037		3,000		3,057
Rev., 5.00%, 01/01/2040		10,000		10,148
Delaware Valley Regional Finance Authority,
Series A, Rev., AMBAC, 5.50%, 08/01/2028		5,000		5,684


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Pennsylvania — continued
Series C, Rev., (ICE LIBOR USD 3 Month * 0.67 + 0.75%), 1.81%, 06/01/2037 (aa)		250		226
DuBois Hospital Authority, Penn Highlands Healthcare,
Rev., 4.00%, 07/15/2045		1,400		1,266
Rev., 5.00%, 07/15/2043		3,410		3,536
Emmaus General Authority, Rev., AGM, VRDO, 0.90%, 07/07/2022 (z)		3,510		3,510
Geisinger Authority, Geisinger Health System,
Rev., (ICE LIBOR USD 1 Month * 0.67 + 1.07%), 2.27%, 06/01/2028 (aa)		500		499
Series C, Rev., 5.00%, 04/01/2043 (z)		2,630		2,871
Geisinger Authority, Geisinger Health System Obligation Group, Rev., 4.00%, 04/01/2039		1,000		986
Lancaster County Hospital Authority, Penn State Health, Rev., 5.00%, 11/01/2037		600		642
Lancaster Industrial Development Authority, Landis Homes Retirement Community, Rev., 4.00%, 07/01/2056		765		588
Lehigh County General Purpose Authority, Good Shepherd Group, Series A, Rev., 4.00%, 11/01/2022		315		318
Lehigh County Industrial Development Authority, Electricity Utilities Corp., Rev., 1.80%, 09/01/2029 (z)		2,000		1,999
Monroeville Finance Authority,
Series B, Rev., 5.00%, 02/15/2029		1,425		1,575
Series B, Rev., 5.00%, 02/15/2038		1,200		1,317
Series B, Rev., 5.00%, 02/15/2039		2,000		2,187
Montgomery County Higher Education and Health Authority, Thomas Jefferson University,
Rev., VRDO, 1.30%, 07/07/2022 (z)		14,050		14,050
Rev., 4.00%, 05/01/2038		250		248
Montgomery County Higher Education and Health Authority, Thomas Jefferson University Project, Rev., 4.00%, 09/01/2044		1,610		1,526
Montgomery County Industrial Development Authority, Retirement Life Communities,
Rev., 5.00%, 11/15/2033		1,500		1,564
Series C, Rev., 5.00%, 11/15/2045		2,585		2,694
New Castle Sanitation Authority, Series A, Rev., AGM, 3.00%, 06/01/2029		500		501
Norristown Area School District, GO, 5.00%, 09/01/2026		1,500		1,631
Pennsylvania Economic Development Financing Authority, Bridges Finco Project, Rev., AMT, 5.00%, 06/30/2023		495		507
Pennsylvania Economic Development Financing Authority, Draw Down, Rev., AMT, 0.30%, 04/01/2049 (z)		1,000		1,000


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Pennsylvania — continued
Pennsylvania Economic Development Financing Authority, Pennsylvania Bridges Finco LP P3 Project,
Rev., AMT, 5.00%, 12/31/2030		3,460		3,566
Rev., AMT, 5.00%, 12/31/2034		1,000		1,022
Rev., AMT, 5.00%, 06/30/2042		1,250		1,263
Pennsylvania Economic Development Financing Authority, Philadelphia Biosolids Facility,
Rev., 4.00%, 01/01/2028		1,590		1,626
Rev., 4.00%, 01/01/2029		450		458
Rev., 4.00%, 01/01/2031		800		803
Pennsylvania Economic Development Financing Authority, PPL Energy Supply LLC, Series B, Rev., VRDO, LOC: MUFG Bank Ltd., 1.50%, 07/07/2022 (z)		7,000		7,000
Pennsylvania Economic Development Financing Authority, Republic Services, Inc. Project,
Rev., AMT, 1.90%, 06/01/2044 (w) (z)		25,420		25,420
Series B1, Rev., AMT, 2.00%, 04/01/2049 (z)		4,550		4,550
Pennsylvania Economic Development Financing Authority, University of Pittsburgh Medical Center, Rev., 5.00%, 07/01/2038		5,500		5,580
Pennsylvania Economic Development Financing Authority, UPMC, Series A1, Rev., 4.00%, 04/15/2045		5,440		5,092
Pennsylvania Economic Development Financing Authority, Waste Management Project, Rev., 0.95%, 12/01/2033 (z)		2,000		1,740
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Rev., AMT, 1.10%, 06/01/2031 (z)		2,000		1,763
Pennsylvania Economic Development Financing Authority, Waste Management, Inc. Project,
Rev., AMT, (SIFMA Municipal Swap Index + 0.40%), 1.31%, 06/01/2041 (aa)		805		777
Rev., AMT, 1.75%, 08/01/2038 (z)		5,000		4,791
Rev., AMT, 2.00%, 08/01/2045 (z)		1,650		1,650
Series A, Rev., AMT, 0.58%, 08/01/2037 (z)		2,610		2,433
Pennsylvania Higher Education Assistance Agency, Series A, Rev., AMT, 5.00%, 06/01/2026		95		102
Pennsylvania Higher Education Assistance Agency, Senior, Series A, Rev., AMT, 5.00%, 06/01/2028		3,775		4,083
Pennsylvania Higher Educational Facilities Authority, University Of Pennsylvania, Rev., 5.00%, 08/15/2036		1,935		2,144


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Pennsylvania — continued
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Rev., 5.00%, 08/15/2042		1,250		1,322
Pennsylvania Higher Educational Facilities Authority, University Pennsylvania Health System, Series A, Rev., 4.00%, 08/15/2035		1,170		1,170
Pennsylvania Housing Finance Agency, Series 133, Rev., 3.00%, 10/01/2050		3,435		3,378
Pennsylvania Housing Finance Agency, Harrison Senior Tower, Rev., 0.25%, 06/01/2024 (z)		185		180
Pennsylvania Housing Finance Agency, School Of Nursing, Rev., HUD, 0.27%, 08/01/2024 (z)		3,200		3,120
Pennsylvania Housing Finance Agency, Social Bond, Series 136, Rev., 3.00%, 10/01/2051		1,150		1,133
Pennsylvania Housing Finance Agency, Social Bonds, Series 134B, Rev., AMT, 5.00%, 10/01/2022		1,000		1,008
Pennsylvania Turnpike Commission,
Series A1, Rev., 5.00%, 12/01/2027		1,000		1,126
Series A1, Rev., 5.00%, 12/01/2031		250		275
Series A1, Rev., 5.00%, 12/01/2034		1,000		1,088
Series A1, Rev., 5.00%, 12/01/2046		1,000		1,043
Series A2, Rev., 5.00%, 12/01/2024		100		107
Series A, Rev., AGM, 5.25%, 07/15/2028		300		345
Series A, Rev., 5.25%, 12/01/2044		2,500		2,758
Series B, Rev., 4.00%, 12/01/2039		3,000		2,927
Series B, Rev., 5.00%, 12/01/2026		400		443
Series B, Rev., 5.00%, 12/01/2027		900		1,013
Series B, Rev., 5.00%, 12/01/2028		700		795
Series C, Rev., 4.00%, 12/01/2040		1,400		1,389
Series C, Rev., 4.00%, 12/01/2042		1,555		1,530
Series C, Rev., 5.00%, 12/01/2027		345		389
Series C, Rev., 5.00%, 12/01/2041		1,560		1,713
Pennsylvania Turnpike Commission, Motor License, Rev., 5.00%, 12/01/2040		1,000		1,067
Pennsylvania Turnpike Commission, Subordinate,
Rev., 5.00%, 12/01/2030		1,750		1,897
Series A, Rev., 4.00%, 12/01/2043		2,135		2,040
Pennsylvania Turnpike Commission, Subordinated, Series A, Rev., 5.00%, 12/01/2036		2,775		2,932
Philadelphia Authority for Industrial Development, Rev., 5.00%, 05/01/2033		1,250		1,385
Philadelphia Authority for Industrial Development, String Theory Charter School, Rev., 5.00%, 06/15/2040 (e)		900		889
Philadelphia Authority for Industrial Development, Thomas Jefferson, Rev., VRDO, 1.30%, 07/07/2022 (z)		16,000		16,000


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Pennsylvania — continued
Philadelphia Authority for Industrial Development, Thomas Jefferson University,
Series A, Rev., 5.00%, 09/01/2032		1,110		1,171
Series A, Rev., 5.00%, 09/01/2035		1,105		1,161
Series A, Rev., 5.00%, 09/01/2047		1,000		1,036
Philadelphia Gas Works Co., Series A, Rev., AGM, 4.00%, 08/01/2045		5,000		4,630
Pittsburgh Water & Sewer Authority,
Series B, Rev., AGM, 4.00%, 09/01/2036		500		513
Series B, Rev., AGM, 4.00%, 09/01/2038		500		507
Series B, Rev., AGM, 4.00%, 09/01/2045		2,250		2,232
Series C, Rev., AGM, (SIFMA Municipal Swap Index + 0.65%), 1.56%, 09/01/2040 (aa)		3,110		3,112
Pittsburgh Water & Sewer Authority, Subordinated, Series B, Rev., AGM, 5.00%, 09/01/2031		750		856
School District of Philadelphia (The),
Series A, GO, 5.00%, 09/01/2027		420		466
Series A, GO, 5.00%, 09/01/2031		245		279
Series A, GO, 5.00%, 09/01/2034		375		415
School District of Philadelphia (The), Green Bond,
Series B, GO, 5.00%, 09/01/2027		895		993
Series B, GO, 5.00%, 09/01/2028		1,485		1,659
Series B, GO, 5.00%, 09/01/2029		450		506
Scranton School District, Series E, GO, BAM, 4.00%, 12/01/2037		1,025		1,035
Sports & Exhibition Authority of Pittsburgh and Allegheny County,
Rev., AGM, 5.00%, 02/01/2027		2,250		2,473
Rev., AGM, 5.00%, 02/01/2028		2,590		2,875
State Public School Building Authority, Montgomery County Community College, Rev., 5.50%, 05/01/2033 (p)		1,000		1,031
State Public School Building Authority, Northampton County Area Community,
Rev., BAM, 4.00%, 03/01/2029		1,000		1,055
Rev., BAM, 4.00%, 03/01/2030		640		670
Rev., BAM, 4.00%, 03/01/2031		500		521
Rev., BAM, 5.00%, 03/01/2027		715		785
Rev., BAM, 5.00%, 03/01/2028		755		839
State Public School Building Authority, Philadelphia School District, Rev., AGM, 5.00%, 06/01/2030		3,480		3,800
Westmoreland County Industrial Development Authority, Excela Health Project,
Series A, Rev., 4.00%, 07/01/2025		575		589
Series A, Rev., 4.00%, 07/01/2026		1,250		1,285
Series A, Rev., 5.00%, 07/01/2028		1,400		1,512


				316,576


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Puerto Rico — 0.8%
Commonwealth of Puerto Rico, Restructured,
Series A1, GO, 4.00%, 07/01/2033		481		441
Series A1, GO, 4.00%, 07/01/2035		433		387
Series A1, GO, 4.00%, 07/01/2037		371		329
Series A1, GO, 4.00%, 07/01/2041		505		437
Series A1, GO, 4.00%, 07/01/2046		525		441
Series A1, GO, 5.25%, 07/01/2023		538		547
Series A1, GO, 5.38%, 07/01/2025		536		557
Series A1, GO, 5.63%, 07/01/2027		6,045		6,431
Series A1, GO, 5.63%, 07/01/2029		1,523		1,635
Series A1, GO, 5.75%, 07/01/2031		2,008		2,192
Series A, GO, Zero Coupon, 07/01/2024		248		227
Series A, GO, Zero Coupon, 07/01/2033		5,910		3,319
Commonwealth of Puerto Rico, Subordinate, Note Claims, Series CW, 0.00%, 11/01/2043 (z)		2,404		1,196
Puerto Rico Electric Power Authority,
Series AAA, Rev., 5.25%, 07/01/2023 (d)		100		85
Series AAA, Rev., 5.25%, 07/01/2024 (d)		2,450		2,076
Series CCC, Rev., 4.63%, 07/01/2025 (d)		100		84
Series DDD, Rev., 5.00%, 07/01/2020 (d)		570		483
Series TT, Rev., 5.00%, 07/01/2020 (d)		285		241
Series TT, Rev., 5.00%, 07/01/2021 (d)		100		85
Series TT, Rev., 5.00%, 07/01/2037 (d)		1,200		1,017
Series XX, Rev., 4.63%, 07/01/2025 (d)		100		84
Series XX, Rev., 4.75%, 07/01/2026 (d)		295		249
Series ZZ, Rev., 4.25%, 07/01/2020 (d)		470		393
Series ZZ, Rev., 5.25%, 07/01/2019 (d)		580		492
Series ZZ, Rev., 5.25%, 07/01/2023 (d)		500		424
Puerto Rico Electric Power Authority, Libor, Series UU, Rev., AGM, (ICE LIBOR USD 3 Month * 0.67 + 0.52%), 1.17%, 07/01/2029 (aa)		325		336
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Restructured,
Series A1, Rev., Zero Coupon, 07/01/2031		2,925		1,981
Series A1, Rev., 4.75%, 07/01/2053		1,000		961
Series A1, Rev., 5.00%, 07/01/2058		3,000		2,949
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Restructured,
Series A1, Rev., 4.55%, 07/01/2040		1,385		1,334
Series A2, Rev., 4.33%, 07/01/2040		12,100		11,363


				42,776

Rhode Island — 0.1%
Rhode Island Housing and Mortgage Finance Corp., Series 71, Rev., GNMA COLL, 3.75%, 10/01/2049		420		423
Rhode Island Housing and Mortgage Finance Corp., Homeownership Opportunity,
Series 73A, Rev., 0.95%, 04/01/2026		500		465
Series 73A, Rev., 1.10%, 04/01/2027		300		274
Series 73A, Rev., 1.65%, 10/01/2029		715		639
Series 73A, Rev., 3.00%, 10/01/2050		1,315		1,290


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Rhode Island — continued
Rhode Island Housing and Mortgage Finance Corp., Social Bonds, Series 75A, Rev., 3.00%, 10/01/2051		2,845		2,776
Rhode Island Student Loan Authority, Senior Bond, Series A, Rev., AMT, 5.00%, 12/01/2029		370		414


				6,281

South Carolina — 1.2%
City of Rock Hill, Combined Utility System, Rev., 5.00%, 01/01/2027		250		269
Columbia Housing Authority, Colonial Bluffs Apartments, Rev., 1.25%, 08/01/2025 (z)		770		746
Columbia Housing Authority, Palmetto Terrace Apartment, Rev., 0.31%, 06/01/2024 (z)		80		79
Lexington County Health Services District, Inc., Lexmed Obligated Group,
Rev., 4.00%, 11/01/2030		1,000		1,027
Rev., 4.00%, 11/01/2031		1,000		1,021
Patriots Energy Group Financing Agency, Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 10/01/2048 (z)		40		41
South Carolina Jobs-Economic Development Authority, Bon Secours Mercy Health, Series S, Rev., 5.00%, 12/01/2048 (z)		1,000		1,081
South Carolina Jobs-Economic Development Authority, McLeod Health Projects, Rev., 5.00%, 11/01/2048		1,000		1,045
South Carolina Jobs-Economic Development Authority, Prisma Health Obligated Group, Series A, Rev., 5.00%, 05/01/2030		1,500		1,618
South Carolina Jobs-Economic Development Authority, Prisma Health Obligation Group, Rev., VRDO, 1.32%, 04/07/2022 (z)		11,800		11,800
South Carolina Ports Authority, Rev., AMT, 5.00%, 07/01/2043		5,680		5,973
South Carolina Public Service Authority,
Series A, Rev., 4.00%, 12/01/2033		1,000		1,000
Series A, Rev., 4.00%, 12/01/2034		2,000		2,000
Series A, Rev., 4.00%, 12/01/2037		2,000		1,949
Series A, Rev., 4.00%, 12/01/2038		520		504
Series A, Rev., 5.00%, 12/01/2024		500		527
Series A, Rev., 5.00%, 12/01/2025		1,000		1,068
Series A, Rev., 5.00%, 12/01/2027		1,525		1,666
Series A, Rev., 5.00%, 12/01/2028		1,700		1,792
Series A, Rev., 5.00%, 12/01/2029		85		94
Series A, Rev., 5.00%, 12/01/2031		4,500		4,944
Series A, Rev., 5.00%, 12/01/2032		1,000		1,091
Series B, Rev., 5.00%, 12/01/2041		1,000		1,031
South Carolina Public Service Authority, Bond Exchange, Series A, Rev., 5.00%, 12/01/2050		5,000		5,081


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

South Carolina — continued
South Carolina State Housing Finance & Development Authority,
Series A, Rev., 3.00%, 01/01/2052		750		731
Series A, Rev., 4.00%, 01/01/2052		900		913
Series B, Rev., 3.25%, 01/01/2052		7,735		7,668
South Carolina State Housing Finance & Development Authority, James Lewis Jr. Eastside, Rev., FNMA COLL, 0.30%, 09/01/2024 (z)		2,190		2,101
South Carolina State Housing Finance & Development Authority, Villages At Congaree, Rev., 1.25%, 06/01/2025 (z)		895		870
Spartanburg Housing Authority, Connecticut Village Apartments, Rev., 1.05%, 08/01/2025 (z)		625		617
Spartanburg Housing Authority, Hickory Heights And Oakland, Rev., HUD, 0.29%, 10/01/2024 (z)		1,000		967
Spartanburg Regional Health Services District, Services District, Inc.,
Rev., 5.00%, 04/15/2026		565		607
Rev., 5.00%, 04/15/2028		500		546
Rev., 5.00%, 04/15/2033		500		550


				63,017

South Dakota — 0.1%
County of Lincoln, Augustana College Association, Rev., 4.00%, 08/01/2041		250		223
South Dakota Housing Development Authority, Homeownership Mortgage, Series B, Rev., 3.00%, 11/01/2051		2,905		2,837


				3,060

Tennessee — 1.0%
Chattanooga Health Educational & Housing Facility Board, Battery Heights Apartments, Rev., 0.20%, 08/01/2024 (z)		90		88
Chattanooga Health Educational & Housing Facility Board, Commonspirit Health, Series A1, Rev., 5.00%, 08/01/2028		305		328
City of Clarksville Water Sewer & Gas Revenue, Rev., 5.00%, 02/01/2041 (p)		965		1,055
City of Memphis Storm Water System Revenue, Rev., 5.00%, 10/01/2044		3,365		3,638
City of Memphis, Gas System Revenue, Rev., 4.00%, 12/01/2045		2,175		2,156
City of Memphis, Sanitary Sewerage System Revenue, Series B, Rev., 5.00%, 10/01/2022		125		126
County of Coffee, GO, 5.00%, 06/01/2026		250		275
Health Educational and Housing Facility Board of the City of Memphis (The), Tillman Cove Apartments, Rev., HUD, 0.55%, 12/01/2024 (z)		2,275		2,151


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Tennessee — continued
Health Educational and Housing Facility Board of the City of Memphis, Memphis Towers Apartments, Rev., 0.25%, 12/01/2023 (z)		2,000		1,984
Knoxville’s Community Development Corp., Austin 1B Apartments Project, Rev., 0.22%, 10/01/2024 (z)		320		307
Memphis-Shelby County Airport Authority,
Rev., AMT, 5.00%, 07/01/2032		270		288
Rev., AMT, 5.00%, 07/01/2043		2,055		2,139
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bond, Vanderbilt University Medical Center, Series A, Rev., 5.00%, 07/01/2040		2,685		2,826
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds, Richland Hills Apartments Project, Rev., HUD, 1.25%, 12/01/2024 (z)		5,644		5,554
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds, Vanderbilt University Medical, Rev., 5.00%, 07/01/2031		2,580		2,891
Metropolitan Government Nashville & Davidson County Industrial Development Board, Waste Management, Inc. Tenn Project, Rev., AMT, 0.58%, 08/01/2031 (z)		600		559
Metropolitan Government of Nashville & Davidson County, Water & Sewer Revenue, Rev., 5.00%, 07/01/2025 (p)		50		51
Tennergy Corp., Series A, Rev., 4.00%, 12/01/2051 (z)		9,310		9,362
Tennessee Energy Acquisition Corp.,
Rev., 4.00%, 11/01/2049 (z)		3,250		3,300
Rev., 5.00%, 05/01/2052 (z)		10,095		10,705
Tennessee Energy Acquisition Corp., Junior, Series B, Rev., 5.63%, 09/01/2026		1,410		1,530
Tennessee Housing Development Agency, Residential Finance Program I, Rev., 3.75%, 01/01/2050		275		277


				51,590

Texas — 8.8%
Argyle Independent School District, Series A, GO, PSF-GTD, 5.00%, 08/15/2027		1,000		1,123
Arlington Higher Education Finance Corp.,
Series A, Rev., PSF-GTD, 4.00%, 08/15/2024		200		207
Series A, Rev., PSF-GTD, 4.00%, 08/15/2025		445		465
Series A, Rev., PSF-GTD, 4.00%, 08/15/2026		265		279


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Texas — continued
Series A, Rev., PSF-GTD, 4.00%, 08/15/2030		425		449
Series A, Rev., PSF-GTD, 5.00%, 08/15/2031		555		644
Arlington Higher Education Finance Corp., Legacy Traditional Schools, Rev., 4.13%, 02/15/2041		815		642
Austin Convention Enterprises, Inc., First Tier Convention Center, Rev., 5.00%, 01/01/2033		1,125		1,156
Barbers Hill Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2033 (w)		1,010		1,166
GO, PSF-GTD, 5.00%, 02/15/2035 (w)		1,500		1,706
Bexar County Hospital District, Certificates Obligation, GO, 5.00%, 02/15/2031		1,000		1,127
Board of Regents of the University of Texas System,
Series A, Rev., 5.00%, 08/15/2030		1,000		1,166
Series E, Rev., 5.00%, 08/15/2027		1,000		1,128
Brazoria County Toll Road Authority, Subordinated Lien, Series A, Rev., CNTY GTD, 5.00%, 03/01/2033		1,670		1,818
Brazosport Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2027		2,500		2,788
GO, PSF-GTD, 5.00%, 02/15/2029		2,000		2,293
Cameron County Housing Finance Corp., Sunfield Country Apartments, Rev., 0.28%, 02/01/2024 (z)		415		405
Capital Area Housing Finance Corp., Redwood Apartments, Rev., 0.41%, 01/01/2041 (z)		6,605		6,378
Central Texas Regional Mobility Authority,
Series B, Rev., 4.00%, 01/01/2040		800		768
Series B, Rev., 4.00%, 01/01/2051		1,250		1,134
Series B, Rev., 5.00%, 01/01/2037		1,000		1,076
Series B, Rev., 5.00%, 01/01/2046		1,500		1,582
Central Texas Regional Mobility Authority, Senior Lien,
Series B, Rev., 4.00%, 01/01/2039		600		579
Series B, Rev., 4.00%, 01/01/2040		500		480
Series B, Rev., 5.00%, 01/01/2024		230		238
Series B, Rev., 5.00%, 01/01/2045		3,595		3,788
Series D, Rev., 5.00%, 01/01/2033		480		526
Series E, Rev., 5.00%, 01/01/2045		2,665		2,808
Central Texas Regional Mobility Authority, Subordinated, Series F, Rev., BAN, 5.00%, 01/01/2025		4,770		4,974
Central Texas Regional Mobility Authority, Subordinated Lien, Rev., 5.00%, 01/01/2042 (p)		1,630		1,657
Central Texas Turnpike System, First Tier, Series A, Rev., 5.00%, 08/15/2041 (p)		1,000		1,004
City Austin, Certificates Obligation,
GO, 5.00%, 09/01/2032		1,750		2,010


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Texas — continued
GO, 5.00%, 09/01/2033		1,100		1,258
GO, 5.00%, 09/01/2034		1,750		1,995
City of Arlington, Tax Increment Reinvestment Zone, Tax Allocation, 4.00%, 08/15/2041		1,000		932
City of Arlington, Water & Wastewater System Revenue, Rev., 5.00%, 06/01/2023		90		93
City of Austin Airport System Revenue,
Rev., AMT, 5.00%, 11/15/2029		1,400		1,547
Rev., AMT, 5.00%, 11/15/2040		1,000		1,074
City of Austin Water & Wastewater System Revenue,
Rev., 4.00%, 11/15/2036		185		191
Rev., 5.00%, 11/15/2039		500		521
Series C, Rev., 5.00%, 11/15/2032		1,000		1,152
City of Austin, Airport System Revenue,
Series B, Rev., AMT, 5.00%, 11/15/2030		1,000		1,096
Series B, Rev., AMT, 5.00%, 11/15/2033		1,130		1,188
Series B, Rev., AMT, 5.00%, 11/15/2036		3,335		3,519
City of Austin, Electric Utility Revenue,
Series B, Rev., 5.00%, 11/15/2037		1,505		1,668
Series B, Rev., 5.00%, 11/15/2038		1,340		1,477
Series B, Rev., 5.00%, 11/15/2044		1,000		1,084
City of Austin, Refunding & Public Improvement, GO, 5.00%, 09/01/2033		620		709
City of Austin, Water & Wastewater System Revenue, Rev., 5.00%, 11/15/2041		7,000		7,487
City of Dallas Housing Finance Corp., Midpark Towers, Rev., 0.35%, 01/01/2024 (z)		120		117
City of Dallas, Waterworks & Sewer System Revenue,
Series C, Rev., 4.00%, 10/01/2039		7,470		7,565
Series C, Rev., 4.00%, 10/01/2040		1,000		1,007
Series C, Rev., 5.00%, 10/01/2029		1,125		1,295
City of Denton Utility System Revenue, Rev., 5.00%, 12/01/2022		1,000		1,014
City of Eagle Pass, Certificates Obligation,
GO, AGM, 4.00%, 03/01/2039		500		505
GO, AGM, 4.00%, 03/01/2041		680		685
City of Fort Worth, GO, 4.00%, 03/01/2030		1,150		1,230
City of Garland, Certificates Obligation, GO, 5.00%, 02/15/2024		275		289
City of Haslet, Improvement Area Second Project, Special Assessment, 3.25%, 09/01/2031 (e)		500		413
City of Houston Airport System Revenue, Subordinated Lien,
Series A, Rev., AMT, 4.00%, 07/01/2040		3,570		3,450
Series A, Rev., AMT, 5.00%, 07/01/2023 (p)		10,000		10,000
Series A, Rev., AMT, 5.00%, 07/01/2024		1,000		1,047
Series A, Rev., AMT, 5.00%, 07/01/2028		1,000		1,097
Series A, Rev., AMT, 5.00%, 07/01/2034		2,500		2,697
Series B, Rev., 5.00%, 07/01/2027		1,995		2,202


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Texas — continued
City of Houston Airport System Revenue, United Airlines, Inc. Terminal, Rev., AMT, 4.00%, 07/15/2041		3,365		2,866
City of Houston Combined Utility System Revenue, First Lien, Series A, Rev., 4.00%, 11/15/2033		1,200		1,241
City of Houston Hotel Occupancy Tax & Special Revenue, Convention & Entertainment,
Rev., 4.00%, 09/01/2022		50		50
Rev., 4.00%, 09/01/2023		50		51
Rev., 4.00%, 09/01/2024		150		155
Rev., 4.00%, 09/01/2025		45		47
Rev., 4.00%, 09/01/2029		280		295
City of Houston, Airport System Revenue, Series C, Rev., AMT, 5.00%, 07/01/2028		470		516
City of Houston, Airport System Revenue, Special Facilities, United Airlines, Inc., Rev., AMT, 5.00%, 07/15/2028		600		605
City of Houston, Airport System Revenue, Subordinated Lien,
Series A, Rev., AMT, 5.00%, 07/01/2028		890		976
Series B, Rev., 5.00%, 07/01/2026		1,000		1,091
City of Houston, Combined Utility System Revenue, First Lien,
Series A, Rev., 5.00%, 11/15/2029		1,100		1,269
Series C, Rev., 5.00%, 11/15/2029		1,850		2,133
City of Justin, Timberbrook Public Improvement, Special Assessment, 3.00%, 09/01/2031 (e)		315		269
City of Kyle, 6 Creeks Public Improvement, Special Assessment, 2.63%, 09/01/2025 (e)		500		463
City of Laredo, Certificates Obligation, GO, 5.00%, 02/15/2033		1,070		1,164
City of Lubbock Electric Light & Power System Revenue,
Rev., 5.00%, 04/15/2026		800		873
Rev., 5.00%, 04/15/2027		785		870
Rev., 5.00%, 04/15/2028		900		1,008
City of McKinney Waterworks & Sewer System Revenue, Rev., 5.00%, 03/15/2026		350		382
City of Mesquite, Waterworks & Sewer System Revenue, Rev., 4.00%, 03/01/2023		95		96
City of Palestine, Certificates Obligation, GO, AGM, 4.00%, 02/15/2046		5,000		4,818
City of San Antonio Electric & Gas Systems Revenue,
Rev., 4.00%, 02/01/2030		1,660		1,770
Rev., 5.00%, 02/01/2025		3,095		3,318
City of San Antonio Electric & Gas Systems Revenue, Junior Lien,
Rev., 4.00%, 02/01/2037		1,000		1,028
Rev., 5.00%, 02/01/2048 (p)		1,980		2,019


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Texas — continued
Series 2019, Rev., 2.75%, 02/01/2048 (z)		2,000		2,004
Series D, Rev., 1.13%, 12/01/2045 (z)		6,510		6,017
City of San Antonio, Electric & Gas Systems Revenue, Rev., 4.00%, 02/01/2027		3,000		3,186
City of San Antonio, Electric & Gas Systems Revenue, Junior Lien, Rev., 5.00%, 02/01/2043 (p)		4,350		4,434
Cleburne Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2036		1,065		1,152
Clifton Higher Education Finance Corp., Idea Public School,
Series A, Rev., 4.00%, 08/15/2035		415		408
Series A, Rev., 4.00%, 08/15/2047		1,300		1,199
Series T, Rev., PSF-GTD, 4.00%, 08/15/2036		700		740
Series T, Rev., PSF-GTD, 4.00%, 08/15/2047		1,175		1,157
Series T, Rev., PSF-GTD, 5.00%, 08/15/2022		50		50
Series T, Rev., PSF-GTD, 5.00%, 08/15/2023		60		62
Series T, Rev., PSF-GTD, 5.00%, 08/15/2024		65		69
Series T, Rev., PSF-GTD, 5.00%, 08/15/2025		70		75
Series T, Rev., PSF-GTD, 5.00%, 08/15/2026		55		60
Series T, Rev., PSF-GTD, 5.00%, 08/15/2027		30		33
Series T, Rev., PSF-GTD, 5.00%, 08/15/2028		40		45
Series T, Rev., PSF-GTD, 5.00%, 08/15/2030		215		245
Clifton Higher Education Finance Corp., Idea Public Schools, Rev., PSF-GTD, 5.00%, 08/15/2026		1,840		2,008
Clifton Higher Education Finance Corp., International Leadership of Texas,
Rev., PSF-GTD, 4.00%, 08/15/2023		75		77
Rev., PSF-GTD, 4.00%, 08/15/2024		115		119
Rev., PSF-GTD, 4.00%, 08/15/2025		145		152
Conroe Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2024		750		787
County of Bexar,
GO, 4.00%, 06/15/2040		11,085		11,137
GO, 5.00%, 06/15/2031 (p)		1,500		1,657
County of El Paso, Series A, GO, 5.00%, 02/15/2027		1,430		1,556
County of Harris,
Series A, GO, 5.00%, 10/01/2022		4,615		4,656
Series A, GO, 5.00%, 10/01/2024		1,900		2,023
Series A, GO, 5.00%, 10/01/2029		1,150		1,329
Series A, GO, 5.00%, 10/01/2035		375		436


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Texas — continued
County of Harris, Road Bonds, Series A, GO, 5.00%, 10/01/2022		100		101
County of Nueces, GO, 5.00%, 02/15/2029		460		520
County of Williams, GO, 5.00%, 02/15/2027		1,000		1,117
Cypress-Fairbanks Independent School District, School Building, Series B2, GO, PSF-GTD, 0.28%, 02/15/2040 (z)		1,410		1,351
Dallas Area Rapid Transit, Series A, Rev., 5.00%, 12/01/2046 (p)		2,000		2,186
Dallas Area Rapid Transit, Senior Lien, Rev., 5.00%, 12/01/2032		1,000		1,137
Dallas Fort Worth International Airport, Series E, Rev., 5.00%, 11/01/2023		85		86
Dallas Fort Worth International Airport, Dallas Fort Worth International,
Rev., 5.00%, 11/01/2025		1,825		1,970
Rev., 5.00%, 11/01/2026		2,850		3,126
Dallas/Fort Worth, International Airport, Series C, Rev., AMT, 5.13%, 11/01/2043 (p)		350		354
Deer Park Independent School District, GO, PSF-GTD, 0.16%, 10/01/2042 (z)		930		926
Del Valle Independent School District,
GO, PSF-GTD, 4.00%, 06/15/2031		3,085		3,335
GO, PSF-GTD, 4.00%, 06/15/2032		3,405		3,655
GO, PSF-GTD, 4.00%, 06/15/2033		5,740		6,138
GO, PSF-GTD, 4.00%, 06/15/2034		3,280		3,463
GO, PSF-GTD, 5.00%, 06/15/2026		1,750		1,925
Denton Independent School District, GO, PSF-GTD, 5.00%, 08/15/2027		1,000		1,124
Eagle Mountain & Saginaw Independent School District, GO, PSF-GTD, 5.00%, 08/15/2026		1,000		1,108
Fort Bend Grand Parkway Toll Road Authority,
Series A, Rev., CNTY GTD, 5.00%, 03/01/2026		750		822
Series A, Rev., CNTY GTD, 5.00%, 03/01/2027		285		318
Series A, Rev., CNTY GTD, 5.00%, 03/01/2029		890		1,014
Series A, Rev., CNTY GTD, 5.00%, 03/01/2030		1,000		1,154
Fort Bend Independent School District,
Series B, GO, PSF-GTD, 0.72%, 08/01/2051 (z)		745		685
Series B, GO, PSF-GTD, 0.88%, 08/01/2050 (z)		875		833
Frisco Independent School District, school Building, Series A, GO, PSF-GTD, 4.00%, 08/15/2032		2,140		2,223
Galveston Public Facility Corp., The Oleanders At Broadway, Rev., HUD, 0.47%, 08/01/2025 (z)		560		525


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Texas — continued
Goose Creek Consolidated Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		900		985
Grand Parkway Transportation Corp., Grand Parkway System, Rev., 4.00%, 10/01/2045		10,125		9,769
Grand Parkway Transportation Corp., Subordinated Tier Toll, Series B, Rev., 5.00%, 04/01/2053 (p)		100		104
Gregory-Portland Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2023		1,000		1,021
Hale Center Education Facilities Corp., Wayland Baptist University Project, Rev., 5.00%, 03/01/2034		1,265		1,319
Harlandale Independent School District, GO, PSF-GTD, 0.75%, 08/15/2045 (z)		465		442
Harlandale Independent School District, Variable Maintenance Tax Notes, GO, BAM, 2.00%, 08/15/2040 (z)		375		373
Harlingen Consolidated Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024		80		85
Harris County Cultural Education Facilities Finance Corp., Medical Facilities Mortgage Revenue, Rev., (ICE LIBOR USD 1 Month * 0.70 + 0.65%), 1.39%, 11/15/2046 (aa)		1,130		1,133
Harris County Cultural Education Facilities Finance Corp., Texas Children’s Hospital,
Rev., 4.00%, 10/01/2041		3,205		3,173
Rev., 5.00%, 10/01/2051 (z)		3,000		3,393
Harris County Cultural Education Facilities Finance Corp., Texas Medical Center, Series A, Rev., 0.90%, 05/15/2050 (z)		6,315		6,209
Harris County Flood Control District, Series A, GO, 5.00%, 10/01/2029		1,700		1,962
Harris County Toll Road Authority, First Lien, Rev., 5.00%, 08/15/2030		1,200		1,391
Harris County, Cultural Education Facilities Finance Corp., Memorial Hermann, Rev., 5.00%, 06/01/2032 (z)		1,000		1,058
Harris County, Toll Road Authority, Senior Lien, Series A, Rev., 5.00%, 08/15/2024		100		106
Hidalgo County Regional Mobility Authority, Senior Lien,
Series A, Rev., 5.00%, 12/01/2032		1,000		1,048
Series A, Rev., 5.00%, 12/01/2033		575		601
Series A, Rev., 5.00%, 12/01/2034		750		784
Housing Options, Inc., The Oaks Project, Rev., 0.50%, 08/01/2041 (z)		240		224
Houston Higher Education Finance Corp., Houston Baptist University, Rev., 4.00%, 10/01/2051		1,100		912


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Texas — continued
Houston Housing Finance Corp., Temenos Place Apartments, Rev., 0.29%, 08/01/2024 (z)		60		59
Houston Independent School District, Maintenance Tax Notes, GO, 5.00%, 07/15/2022		80		80
Katy Independent School District, Series B, GO, PSF-GTD, 5.00%, 02/15/2036		2,475		2,672
Kilgore Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		450		492
Lake Houston Redevelopment Authority, Rev., 4.00%, 09/01/2035		250		239
Lewisville Independent School District, School Building, Series E, GO, PSF-GTD, 5.00%, 08/15/2029 (p)		2,175		2,184
Longview Independent School District, GO, PSF-GTD, 5.00%, 02/15/2023		575		587
Love Field Airport Modernization Corp., Southwest Airlines Co. Project, Rev., AMT, 5.00%, 11/01/2028		2,000		2,017
Lower Colorado River Authority,
Rev., AGM, 5.00%, 05/15/2031		2,795		3,225
Rev., AGM, 5.00%, 05/15/2032		5,040		5,797
Lower Colorado River Authority, LCRA Transmission Services,
Rev., 5.00%, 05/15/2023		2,265		2,325
Rev., 5.00%, 05/15/2027		700		778
Lower Colorado, River Authority, Transmission Services Contract, Rev., 5.00%, 05/15/2029		100		113
Matagorda County Navigation District No. 1, Central Power and Light Co., Rev., AMT, 0.90%, 05/01/2030 (z)		4,945		4,862
Medina Valley Independent School District, GO, PSF-GTD, 0.82%, 02/15/2051 (z)		655		604
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Contractual Obligation, Series B, Rev., 5.00%, 11/01/2025		435		473
Midland County Public Facility Corp., Palladium West Francis, Rev., 0.35%, 06/01/2024 (z)		3,000		2,916
Mission Economic Development Corp., Republic Services, Inc. Project, Rev., AMT, 2.00%, 05/01/2050 (z)		790		790
Mission Economic Development Corp., Waste Management, Rev., AMT, 2.10%, 05/01/2046 (z)		2,250		2,250
New Hope Cultural Education Facilities Finance Corp., Children’s Health System, Series A, Rev., 5.00%, 08/15/2047		1,000		1,047
New Hope Cultural Education Facilities Finance Corp., Westminster Project, Rev., 4.00%, 11/01/2049		100		84


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Texas — continued
North Central Texas Housing Finance Corp., Bluebonnet Ridge Apartment, Rev., 0.38%, 08/01/2040 (z)		505		479
North East Independent School District, Series B, GO, PSF-GTD, 0.25%, 08/01/2032 (z)		265		265
North Fort Bend Water Authority, Rev., BAM, 5.00%, 12/15/2026		1,520		1,687
North Texas Municipal Water District Water System Revenue,
Rev., 3.00%, 09/01/2041		575		500
Rev., 5.00%, 09/01/2022		30		30
North Texas Tollway Authority, Capital Appreciation, First Tier, Rev., AGC, Zero Coupon, 01/01/2030		1,500		1,163
North Texas Tollway Authority, First Tier, Series A, Rev., 5.00%, 01/01/2025		390		396
North Texas Tollway Authority, First Tier Bonds, Series A, Rev., 4.00%, 01/01/2035		2,000		2,074
North Texas Tollway Authority, Second Tier,
Series B, Rev., 4.00%, 01/01/2035		1,000		1,024
Series B, Rev., 5.00%, 01/01/2033		1,000		1,074
North Texas Tollway Authority, System First Tier, Rev., 5.00%, 01/01/2023 (p)		365		371
Northside Independent School District, GO, PSF-GTD, 0.70%, 06/01/2050 (z)		13,550		12,835
Odessa Junior College District, Consolidated Fund,
Rev., AGM, 4.00%, 07/01/2024		1,000		1,036
Rev., AGM, 4.00%, 07/01/2026		1,015		1,074
Pearland Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2026		1,000		1,092
GO, PSF-GTD, 5.00%, 02/15/2027		2,000		2,225
Port Authority of Houston of Harris County Texas,
Rev., 5.00%, 10/01/2026		850		944
Rev., 5.00%, 10/01/2028		1,250		1,423
Rev., 5.00%, 10/01/2029		1,250		1,437
Port Beaumont Navigation District, Jefferson Gulf Coast Energy,
Rev., AMT, 2.00%, 01/01/2027 (e)		550		495
Rev., AMT, 2.25%, 01/01/2029 (e)		800		688
Rev., AMT, 2.88%, 01/01/2041 (e)		120		83
Port of Beaumont Industrial Development Authority, Taxable Jefferson Gulf Coast Energy, Rev., 4.10%, 01/01/2028 (e)		3,000		2,689
Prosper Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2030		25		29
Rockwall Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2038 (w)		1,000		1,125
Round Rock Independent School District, Series A, GO, PSF-GTD, 5.00%, 08/01/2031		1,000		1,138


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Texas — continued
San Antonio Education Facilities Corp., University Of The Incarnate Word,
Rev., 4.00%, 04/01/2038		2,065		1,932
Rev., 4.00%, 04/01/2041		1,000		917
San Antonio Housing Trust Finance Corp., The Arbors At West Avenue, Rev., HUD, 1.45%, 03/01/2026 (z)		805		776
San Antonio Water System, Series 2013F, Rev., 1.00%, 05/01/2043 (z)		5,000		4,618
Spring Branch Independent School District, GO, PSF-GTD, 5.00%, 02/01/2023		65		66
State of Texas, Series B, GO, 4.00%, 08/01/2030		60		62
State of Texas, Mobility Fund, Series B, GO, 5.00%, 10/01/2032		14,655		15,699
State of Texas, Water Financial Assistance,
GO, 5.00%, 08/01/2024		125		132
Series B, GO, 5.00%, 08/01/2037		1,000		1,066
Strategic Housing Finance Corp. of Travis County, ECG Yager LP Yager, Rev., 0.46%, 09/01/2041 (z)		2,500		2,316
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health, Series A, Rev., 5.00%, 11/15/2045		2,195		2,293
Tarrant County Cultural Education Facilities Finance Corp., Christus Health, Series B, Rev., 5.00%, 07/01/2035		1,110		1,179
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center, Taxable,
Rev., AGM, 1.36%, 09/01/2024		800		757
Rev., AGM, 1.39%, 09/01/2025		600		550
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals Of Dallas,
Rev., 5.00%, 10/01/2030		1,000		1,149
Rev., 5.00%, 10/01/2037		1,000		1,102
Texas Department of Housing & Community Affairs, Series A, Rev., GNMA COLL, 4.00%, 03/01/2050		450		457
Texas Department of Housing & Community Affairs, Corona Del Valle, Rev., HUD, 0.37%, 08/01/2025 (z)		380		371
Texas Department of Housing & Community Affairs, OSO Bay Apartments Mandatory, Rev., 0.27%, 09/01/2024 (z)		60		60
Texas Department of Housing & Community Affairs, Palladium Simpson Stuart Apartments, Rev., 0.35%, 01/01/2025 (z)		1,290		1,244
Texas Department of Housing & Community Affairs, Social Bond, Series A, Rev., GNMA, 3.50%, 07/01/2052		1,150		1,139


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Texas — continued
Texas Department of Housing & Community Affairs, Social Bonds, Series A, Rev., GNMA, 3.00%, 01/01/2052		2,300		2,242
Texas Municipal Gas Acquisition & Supply Corp. III,
Rev., 5.00%, 12/15/2022		200		202
Rev., 5.00%, 12/15/2023		1,215		1,250
Rev., 5.00%, 12/15/2024		835		869
Rev., 5.00%, 12/15/2025		1,305		1,372
Rev., 5.00%, 12/15/2028		1,550		1,646
Rev., 5.00%, 12/15/2029		2,000		2,129
Rev., 5.00%, 12/15/2030		3,300		3,516
Rev., 5.00%, 12/15/2031		2,000		2,132
Texas Municipal Gas Acquisition and Supply Corp. I, Series D, Rev., 6.25%, 12/15/2026		6,050		6,471
Texas Municipal Power Agency, Rev., AGM, 3.00%, 09/01/2038		500		443
Texas Private Activity Bond Surface Transportation Corp., Rev., AMT, 5.00%, 06/30/2058		8,920		8,832
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group,
Rev., 4.00%, 12/31/2030		3,970		3,902
Rev., 4.00%, 06/30/2033		1,000		962
Texas State Affordable Housing Corp., Las Palmas Villa, Rev., HUD, 0.25%, 12/01/2024 (z)		1,140		1,131
Texas Transportation Commission, Transportation Commission Mobility, GO, 0.65%, 10/01/2041 (z)		4,500		4,150
Texas Water Development Board, Master Trust, Rev., 4.00%, 10/15/2033		1,000		1,053
Texas Water Development Board, Revolving Fund,
Rev., 4.00%, 08/01/2038		500		508
Rev., 5.00%, 08/01/2024		250		265
Rev., 5.00%, 08/01/2028		125		142
Series A, Rev., 5.00%, 10/15/2028		100		113
Texas Water Development Board, State Water Implementation Fund,
Series A, Rev., 4.00%, 10/15/2033		1,900		1,976
Series A, Rev., 5.00%, 04/15/2026		100		110
Series A, Rev., 5.00%, 10/15/2030		500		540
Series A, Rev., 5.00%, 10/15/2047		2,480		2,705
Series B, Rev., 5.00%, 04/15/2049		11,535		12,467
Texas Water Development Board, State Water Implementation Revenue, Rev., 5.25%, 10/15/2046		2,000		2,189
Tomball Independent School District, School Building, Series B2, GO, PSF-GTD, 0.26%, 02/15/2039 (z)		3,055		2,853


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Texas — continued
Travis County Housing Finance Corp., Montopolis Apartments, Rev., 0.40%, 07/01/2041 (z)		1,930		1,836
Trinity River Authority Central Regional Wastewater System Revenue, Rev., 5.00%, 08/01/2029		1,500		1,721
University of Texas, Series C, Rev., 5.00%, 08/15/2028		100		114
Upper Trinity Regional Water District, Rev., 4.00%, 08/01/2024		900		933
Upper Trinity Regional Water District, Regional Treated Water Supply, Rev., BAM, 3.00%, 08/01/2023		715		725
Uptown Development Authority,
Tax Allocation, 4.00%, 09/01/2033		400		383
Tax Allocation, 4.00%, 09/01/2035		995		954
Waco Educational Finance Corp., Baylor University Issue, Series A, Rev., 4.00%, 03/01/2036		750		746


				445,139

Utah — 0.4%
City of Salt Lake City Airport Revenue, Series A, Rev., AMT, 5.00%, 07/01/2037		5,000		5,380
County of Utah, IHC Health Services, Inc., Series B, Rev., 5.00%, 05/15/2060 (z)		2,625		2,871
Granite School District Board of Education, GO, SCH BD GTY, 5.00%, 06/01/2024		150		158
Intermountain Power Agency, Series A, Rev., 5.00%, 07/01/2030		500		577
Provo School District, GO, SCH BD GTY, 5.00%, 06/15/2028		2,000		2,274
Red Bridge Public Infrastructure District No. 1, Senior Infrastructure District, Series 1A, GO, 3.63%, 02/01/2035 (e)		600		490
State of Utah,
GO, 5.00%, 07/01/2024		100		106
GO, 5.00%, 07/01/2030		2,000		2,293
Series B, GO, 5.00%, 07/01/2025		2,250		2,441
Series B, GO, 5.00%, 07/01/2029		100		115
University of Utah (The), Series A, Rev., 5.00%, 08/01/2039		1,505		1,642
University of Utah, Board of Regents, Series A, Rev., 4.00%, 08/01/2040		1,750		1,760
Utah Housing Corp., Drawdown New City, Rev., 3.50%, 08/01/2025 (z)		900		908
Utah Transit Authority, Series A, Rev., 5.25%, 06/15/2023		85		88
Vineyard Redevelopment Agency,
Tax Allocation, AGM, 5.00%, 05/01/2023		725		744
Tax Allocation, AGM, 5.00%, 05/01/2024		190		200
Tax Allocation, AGM, 5.00%, 05/01/2025		615		660


				22,707


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Vermont — 0.0% (g)
Vermont Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC COLL, 4.00%, 11/01/2049		340		345
Vermont Municipal Bond Bank, Vermont State Colleges System, Series A, Rev., 4.00%, 10/01/2034		250		261
Vermont Student Assistance Corp., Series A, Rev., AMT, 2.38%, 06/15/2039		680		595


				1,201

Virgin Islands — 0.0% (g)
Matching Fund Special Purpose Securitization Corp., Series A, Rev., 5.00%, 10/01/2027		1,505		1,547

Virginia — 1.7%
Albemarle County Economic Development Authority, Westminster Canterbury of the Blue Ridge, Rev., 4.00%, 06/01/2035		1,365		1,310
Chesapeake Hospital Authority, Chesapeake Regional Medical Center, Rev., 5.00%, 07/01/2030		300		332
Chesapeake Hospital Authority, Regional Medical Center, Rev., 5.00%, 07/01/2028		550		610
County of Fairfax, Public Improvement, Series A, GO, 5.00%, 10/01/2031 (p)		945		1,040
County of Fairfax, Sewer Revenue, Series B, Rev., 4.00%, 07/15/2038		500		513
Fairfax County Industrial Development Authority, Inova Health System Project, Rev., 5.00%, 05/15/2029		2,000		2,275
Fairfax County Redevelopment & Housing Authority, Arrowbrook Apartments Project, Rev., 0.41%, 01/01/2041 (z)		225		215
Fairfax County Redevelopment & Housing Authority, One University Senior Apartments, Rev., 1.25%, 12/01/2025 (z)		4,680		4,507
FHLMC Multifamily VRD Certificates, Series M67, Rev., 2.25%, 12/15/2037		990		825
Hampton Roads Transportation Accountability Commission, Senior Lien,
Series A, Rev., BAN, 5.00%, 07/01/2026		2,660		2,927
Series A, Rev., 5.00%, 07/01/2031		1,500		1,726
Series A, Rev., 5.00%, 07/01/2032		4,495		5,153
Series A, Rev., 5.00%, 07/01/2038 (p)		1,000		1,129
Series A, Rev., 5.00%, 07/01/2039		2,100		2,346
Henrico County Economic Development Authority, Westminster Canterbury Richmond, Rev., 5.00%, 10/01/2042		100		103
Hopewell Redevelopment & Housing Authority, Hopewell Heights Apartment, Rev., HUD, 0.49%, 12/01/2024 (z)		750		727
James City County Economic Development Authority, Williamsburg Landing, Series A, Rev., 4.00%, 12/01/2035		150		130


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Virginia — continued
Louisa Industrial Development Authority, Virginia Electric And Power Co. Project, Series B, Rev., 0.75%, 11/01/2035 (z)		2,125		1,958
Lynchburg Economic Development Authority, Centra Health Obligation Group,
Rev., 4.00%, 01/01/2038		1,100		1,063
Rev., 5.00%, 01/01/2029		605		658
Norfolk Airport Authority, Rev., 5.00%, 07/01/2038		1,175		1,259
Virginia Beach Development Authority, Westminster Canterbury, Rev., 5.00%, 09/01/2044		2,215		2,154
Virginia College Building Authority, Series B, Rev., 5.00%, 09/01/2023		1,000		1,037
Virginia College Building Authority, 21st Century College And Equipment, Rev., 5.00%, 02/01/2033		3,750		4,216
Virginia College Building Authority, 21st Century College and Equipment, Rev., 5.00%, 02/01/2029		1,000		1,149
Virginia College Building Authority, Marymount University Project, Series A, Rev., 5.00%, 07/01/2045 (e)		1,000		973
Virginia College Building Authority, Regent University Project, Rev., 5.00%, 06/01/2023		165		169
Virginia Commonwealth Transportation Board, Rev., 5.00%, 05/15/2027		1,500		1,680
Virginia Public Building Authority, Series A, Rev., 4.00%, 08/01/2027 (p)		2,000		2,049
Virginia Public Building Authority, Bidding Group 1, Series A, Rev., 5.00%, 08/01/2033		1,000		1,155
Virginia Resources Authority, Series A, Rev., 5.00%, 11/01/2024 (p)		105		110
Virginia Resources Authority, Virginia Pooled Financing, Rev., 5.00%, 11/01/2028		1,510		1,718
Virginia Resources Authority, Virginia Pooled Financing Program, Rev., 5.00%, 11/01/2028		1,000		1,148
Virginia Small Business Financing Authority, Lifespire Of Virginia,
Rev., 3.00%, 12/01/2022		50		50
Rev., 3.00%, 12/01/2023		35		35
Virginia Small Business Financing Authority, National Senior Campuses,
Series A, Rev., 5.00%, 01/01/2025		700		736
Series A, Rev., 5.00%, 01/01/2032		1,500		1,628
Virginia Small Business Financing Authority, Senior Lien 95 Express,
Rev., AMT, 5.00%, 07/01/2032		400		434
Rev., AMT, 5.00%, 01/01/2036		200		213
Rev., AMT, 5.00%, 07/01/2037		1,000		1,058


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Virginia — continued
Virginia Small Business Financing Authority, Senior Lien, 495 Hot,
Rev., AMT, 5.00%, 06/30/2040		3,735		3,935
Rev., AMT, 5.00%, 06/30/2041		3,470		3,648
Rev., AMT, 5.00%, 12/31/2047		1,000		1,037
Virginia Small Business Financing Authority, Senior Lien, Elizabeth River,
Rev., AMT, 3.00%, 01/01/2041 (w)		8,740		6,803
Rev., AMT, 4.00%, 01/01/2030 (w)		3,125		3,111
Rev., AMT, 4.00%, 01/01/2033 (w)		1,500		1,461
Rev., AMT, 4.00%, 01/01/2034 (w)		2,250		2,177
Rev., AMT, 5.50%, 01/01/2042		3,650		3,650
Virginia Small Business Financing Authority, Transform 66 P3 Project,
Rev., AMT, 5.00%, 12/31/2049		1,500		1,529
Rev., AMT, 5.00%, 12/31/2052		4,000		4,065
Rev., AMT, 5.00%, 12/31/2056		1,000		1,015
Wise County Industrial Development Authority, Electric and Power Company Project, Series A, Rev., 0.75%, 10/01/2040 (z)		4,500		4,146


				89,095

Washington — 3.0%
Central Puget Sound Regional Transit Authority, Green Bond, Series S1, Rev., 5.00%, 11/01/2035 (p)		1,085		1,184
Chelan County Public Utility District No. 1, Series C, Rev., AMT, 5.00%, 07/01/2026		1,285		1,399
City of Seattle Municipal Light & Power Revenue, Series B, Rev., (SIFMA Municipal Swap Index + 0.25%), 1.16%, 05/01/2045 (aa)		2,960		2,925
City of Seattle Municipal Light & Power Revenue, Green Bond, Series A, Rev., 4.00%, 07/01/2040		1,300		1,306
City of Seattle, Drainage & Wastewater Revenue, Rev., 4.00%, 05/01/2044		945		945
City of Seattle, Municipal Light & Power Revenue, Rev., 4.00%, 09/01/2040		1,000		1,001
Clark County Public Utility District No. 1, Rev., 4.00%, 01/01/2034		665		696
County of King, Series A, GO, 5.00%, 12/01/2034		1,335		1,515
County of King, Sewer Revenue, Rev., AGM, 5.00%, 01/01/2047		5,000		5,235
Energy Northwest Washington, Project 3 Electric Revenue, Series C, Rev., 5.00%, 07/01/2027		100		112
Everett Housing Authority, Baker Heights Legacy, Rev., 0.30%, 09/01/2024 (z)		575		560
Grant County, Public Utility District No. 2, Electric Revenue,
Series 2017-O, Rev., 5.00%, 01/01/2047		4,950		5,342
Series R, Rev., 2.00%, 01/01/2044 (z)		1,500		1,482


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Washington — continued
HopeSource III Portfolio Projects, Rev., 1.25%, 01/01/2025 (z)		2,765		2,690
King & Snohomish Counties School District No. 417 Northshore, GO, SCH BD GTY, 4.00%, 12/01/2032		1,000		1,021
King County Housing Authority, Rev., 5.00%, 11/01/2029		1,325		1,500
Pierce County School District No. 10 Tacoma, Social Bonds, Series B, GO, SCH BD GTY, 4.00%, 12/01/2042		10,000		10,037
Port of Seattle, Series C, Rev., AMT, 5.00%, 04/01/2028		500		523
Port of Seattle, Intermediate Lien,
Rev., AMT, 5.00%, 04/01/2028		2,250		2,464
Rev., AMT, 5.00%, 04/01/2030		4,000		4,404
Rev., AMT, 5.00%, 04/01/2044		2,000		2,099
Rev., AMT, 5.00%, 08/01/2046		3,500		3,697
Series C, Rev., AMT, 5.00%, 08/01/2034		5,000		5,497
Seattle Housing Authority, Lam Bow Apartments Project, Rev., 1.25%, 06/01/2024		120		118
Seattle Housing Authority, Northgate Plaza Project, Rev., 1.00%, 06/01/2026		2,045		1,927
Skagit County Public Hospital District No. 1, Improvement Skagit Regional Health, Rev., 5.00%, 12/01/2031		2,145		2,244
Snohomish County School District No. 201 Snohomish, GO, SCH BD GTY, 5.00%, 12/01/2028		1,500		1,713
Spokane County School District No. 81 Spokane, Series C, GO, SCH BD GTY, 5.00%, 12/01/2034		2,000		2,208
State of Washington,
Series 2020A, GO, 5.00%, 08/01/2038		1,500		1,668
Series 2021A, GO, 5.00%, 06/01/2034		1,000		1,133
Series A1, GO, 5.00%, 08/01/2040		13,645		14,478
Series A, GO, 5.00%, 08/01/2022		85		85
Series A, GO, 5.00%, 08/01/2036		1,475		1,665
Series A, GO, 5.00%, 08/01/2040		3,890		4,356
Series B, GO, 5.00%, 07/01/2025		75		81
Series B, GO, 5.00%, 06/01/2035		4,760		5,373
Series R, GO, 5.00%, 02/01/2031		1,000		1,164
Series R, GO, 5.00%, 08/01/2031		750		877
Series RC, GO, 5.00%, 08/01/2029		100		111
Series R-2017A, GO, 5.00%, 08/01/2022		975		978
Series R-2017A, GO, 5.00%, 08/01/2034		1,840		1,989
Series R-2022B, GO, 4.00%, 02/01/2035		500		524
State of Washington, Bid Group, Series C, GO, 5.00%, 02/01/2024		1,000		1,049
State of Washington, MVFT/VRF GO Bonds,
Series F, GO, 5.00%, 06/01/2034		4,080		4,681
Series F, GO, 5.00%, 06/01/2038		2,775		3,150
State of Washington, Various Purpose, Series 2015A1, GO, 5.00%, 08/01/2036		11,200		11,705


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Washington — continued
Thurston County School District No. 111 Olympia, GO, SCH BD GTY, 5.00%, 12/01/2026		1,275		1,420
Washington Health Care Facilities Authority, Fred Hutchinson Cancer, Series C, Rev., (SIFMA Municipal Swap Index + 1.05%), 1.96%, 01/01/2042 (aa) (p)		13,000		13,032
Washington Health Care Facilities Authority, Multicare Health System, Series B, Rev., 5.00%, 08/15/2037		1,200		1,276
Washington Health Care Facilities Authority, Seattle Cancer Care Alliance,
Rev., 4.00%, 12/01/2040 (e)		860		827
Rev., 4.00%, 09/01/2050		5,000		4,660
Rev., 5.00%, 09/01/2045		1,000		1,048
Washington State Housing Finance Commission,
Series A1, Rev., 3.50%, 12/20/2035		1,935		1,769
Series 2N, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 12/01/2050		795		780
Washington State Housing Finance Commission, Downtowner Apartments Project, Rev., LIQ: FHLMC, 3.70%, 07/01/2030		2,000		2,006
Washington State Housing Finance Commission, Garden Haus Apartments Project, Rev., 0.37%, 07/01/2024 (z)		350		342
Washington State Housing Finance Commission, Horizon House Project, Rev., 5.00%, 01/01/2023 (e)		275		278
Washington State Housing Finance Commission, Rockwood Retirement Communities, Rev., 3.00%, 07/01/2027 (e)		1,000		894
Washington State Housing Finance Commission, Social Bond, Series 2N, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2051		995		965


				150,208

West Virginia — 0.1%
Marshall University, Series A, Rev., AGM, 5.00%, 05/01/2030		300		342
Monongalia County Commission Excise Tax District, Series A, Rev., 4.13%, 06/01/2043 (e)		500		445
Monongalia County Commission Special District, Refunding and Improvement, University Town Center, Series A, Rev., 5.50%, 06/01/2037 (e)		1,050		1,067
Monongalia County Commission Special District, University Town Center, Series A, Rev., 5.75%, 06/01/2043 (e)		500		509


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

West Virginia — continued
West Virginia Economic Development Authority, Appalachian Power Company Amos Project, Rev., AMT, 1.00%, 01/01/2041 (z)		2,765		2,507
West Virginia Housing Development Fund, Charles Towers, Rev., FHA, 0.21%, 09/01/2023 (z)		40		40
West Virginia Parkways Authority, Senior Lien, Rev., 5.00%, 06/01/2038		1,000		1,133
West Virginia University, Series A, Rev., 5.00%, 10/01/2029 (p)		130		131


				6,174

Wisconsin — 2.1%
City of Milwaukee, Promissory Notes, Series N4, GO, 5.00%, 04/01/2030		10,150		11,480
City of Milwaukee, Sewerage System Revenue, Series S7, Rev., 5.00%, 06/01/2026		2,665		2,893
County of Milwaukee, Airport Revenue, Series A, Rev., 5.00%, 12/01/2028		250		279
Public Finance Authority, Appalachian Healthcare System,
Rev., 5.00%, 07/01/2036		350		371
Rev., 5.00%, 07/01/2037		300		316
Rev., 5.00%, 07/01/2039		350		367
Public Finance Authority, Carmelite System, Social Bonds, Rev., 5.00%, 01/01/2045		1,105		1,139
Public Finance Authority, Lenoir Rhyne University,
Rev., 5.00%, 04/01/2036 (w)		1,625		1,654
Rev., 5.00%, 04/01/2037 (w)		1,705		1,727
Public Finance Authority, Point College Prep Project,
Rev., 4.00%, 06/15/2030 (e)		200		184
Rev., 5.00%, 06/15/2041 (e)		250		221
Public Finance Authority, Renown Regional Medical Center Project,
Rev., 5.00%, 06/01/2026		500		547
Rev., 5.00%, 06/01/2027		425		464
Rev., 5.00%, 06/01/2028		600		659
Rev., 5.00%, 06/01/2034		1,000		1,073
Public Finance Authority, Senior Lien, Grand Hyatt San Antonio Hotel Acquisition Project, Rev., 5.00%, 02/01/2042		4,000		4,092
Public Finance Authority, Sky Harbour Capital LLC, Rev., AMT, 4.00%, 07/01/2036		815		710
Public Finance Authority, United Methodist Retirement, Rev., 4.00%, 10/01/2026		60		61
Public Finance Authority, Variable Ref Providence St. Joseph Health, Series C, Rev., 4.00%, 10/01/2041 (z)		935		956
Public Finance Authority, Waste Management, Inc. Project,
Rev., AMT, 1.10%, 07/01/2029 (z)		1,445		1,289


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Municipal Bonds — continued
Wisconsin — continued
Rev., AMT, 2.63%, 11/01/2025		5,000		4,818
State of Wisconsin,
Series 1, GO, 5.00%, 05/01/2027		2,400		2,696
Series 20212, GO, 5.00%, 05/01/2026		5,850		6,458
Series B, GO, 4.00%, 05/01/2039		500		505
Series B, GO, 5.00%, 05/01/2035		10,580		11,784
University of Wisconsin Hospitals & Clinics, Green Bond University Of Wisconsin Hospital, Rev., 4.00%, 04/01/2035		440		440
Wisconsin Center District, Capital Appreciation Senior Dedicated,
Series C, Rev., AGM, Zero Coupon, 12/15/2036		1,550		840
Series C, Rev., AGM, Zero Coupon, 12/15/2039		1,750		811
Series C, Rev., AGM, Zero Coupon, 12/15/2040		1,650		723
Series D, Rev., AGM, Zero Coupon, 12/15/2028		545		442
Series D, Rev., AGM, Zero Coupon, 12/15/2029		395		307
Wisconsin Department of Transportation, Series A, Rev., 5.00%, 07/01/2027		1,675		1,882
Wisconsin Health & Educational Facilities Authority,
Rev., 5.00%, 10/01/2029 (w)		5,940		6,657
Rev., 5.00%, 10/01/2030 (w)		6,355		7,174
Wisconsin Health & Educational Facilities Authority Revenue, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2027		500		562
Wisconsin Health & Educational Facilities Authority Revenue, Marshfield Clinic Health System, Series B1, Rev., 5.00%, 02/15/2052 (z)		2,000		2,109
Wisconsin Health & Educational Facilities Authority, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2036		1,500		1,591
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Series A, Rev., 5.00%, 04/01/2042		3,750		3,769
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc. Obligated, Rev., 5.00%, 04/01/2035		1,325		1,404
Wisconsin Health & Educational Facilities Authority, Gundersen Health System,
Rev., 4.00%, 10/15/2035		545		544
Rev., 4.00%, 10/15/2036		3,525		3,497
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System,
Rev., 5.00%, 02/15/2051 (z)		2,600		2,826
Series B, Rev., 5.00%, 02/15/2042		1,000		1,033
Series B, Rev., 5.00%, 02/15/2046		4,550		4,693


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Wisconsin — continued
Wisconsin Health & Educational Facilities Authority, St. John’s Communities, Inc. Project,
Series A, Rev., 5.00%, 09/15/2045 (p)		1,000		1,036
Series A, Rev., 5.00%, 09/15/2050 (p)		1,725		1,786
Wisconsin Housing & Economic Development Authority,
Series B, Rev., HUD, 0.40%, 05/01/2045 (z)		195		189
Series B, Rev., HUD, 0.50%, 11/01/2050 (z)		245		227
Series D, Rev., 4.00%, 03/01/2047		130		132
Wisconsin Housing & Economic Development Authority, Social Bond, Series A, Rev., 3.00%, 03/01/2052		930		908
Wisconsin Housing & Economic Development Authority, Social Bonds, Series C, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 09/01/2052		1,335		1,300
Wisconsin Rapids School District, GO, 5.00%, 04/01/2026		1,110		1,213


				104,838

Wyoming — 0.2%
County of Laramie, Cheyenne Regional Medical Center,
Rev., 4.00%, 05/01/2026		615		645
Rev., 4.00%, 05/01/2028		460		487
County of Sweetwater, Idaho Power Company Project, Rev., 1.70%, 07/15/2026		1,045		984
Wyoming Community Development Authority,
Series 2, Rev., VRDO, LIQ: Royal Bank of Canada, 0.90%, 07/07/2022 (z)		3,000		3,000
Series 2, Rev., 3.00%, 06/01/2049		1,415		1,389
Series 3, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 06/01/2050		1,650		1,624


				8,129

Total Municipal Bonds (Cost $5,205,268)				4,802,767

Short-Term Investments — 7.4%
Municipal Bonds — 0.4% (t)
City of Los Angeles, Rev., TRAN, 4.00%, 06/29/2023 (w)		2,000		2,039
City of San Antonio Electric & Gas Systems Revenue, Rev., 5.00%, 02/01/2023		470		479
Katy Independent School District, GO, PSF-GTD, 5.00%, 02/15/2023		1,000		1,021
Lexington County School District No. 3, GO, BAN, SCSDE, 4.00%, 08/24/2022		5,000		5,020
Port Authority of Houston of Harris County Texas, Rev., 5.00%, 10/01/2022		2,000		2,018


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Short-Term Investments — continued
Municipal Bonds — continued
State of Illinois, Series A, GO, 5.00%, 03/01/2023		500		508
Town of Oyster Bay, Notes, GO, 3.00%, 03/09/2023		10,000		10,065

Total Municipal Bonds				21,150

Time Deposits — 7.0%
Barclays SA, 0.91%, 07/01/2022		3,749		3,749
BNP Paribas SA, 0.91%, 07/01/2022		99,752		99,752
Citibank NA, 0.91%, 07/01/2022		87,468		87,468
Royal Bank of Canada, 0.91%, 07/01/2022		129,952		129,952
Skandinaviska Enskilda Banken AB, 0.91%, 07/01/2022		20,278		20,278


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Time Deposits — continued
Sumitomo Mitsui Trust Bank Ltd., 0.91%, 07/01/2022		13,180		13,180

Total Time Deposits				354,379

Total Short-Term Investments (Cost $375,598)				375,529


Total Investments — 101.9% (Cost — $5,581,729)*				5,178,968

Liabilities in Excess of Other Assets — (1.9)%				(95,282	)


NET ASSETS — 100.0%			$	5,083,686

Percentages indicated are based on net assets.

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JUNE 30, 2022


AGC		— Insured by Assured Guaranty Corp.
AGM		— Insured by Assured Guaranty Municipal Corp.
AMBAC		— Insured by American Municipal Bond Assurance Corp.
AMT		— Alternative Minimum Tax
BAM		— Insured by Build America Mutual
BAN		— Bond Anticipation Note
BHAC		— Insured by Berkshire Hathaway Assurance Corp.
CNTY		— County
COLL		— Collateral
COP		— Certificate of Participation
CR		— Custodial Receipts
FHA		— Federal Housing Administration
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
GTD		— Guaranteed
HUD		— U.S. Department of Housing and Urban Development
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
LIQ		— Liquidity Agreement
LOC		— Letter of Credit
NATL		— Insured by National Public Finance Guarantee Corp.
PSF		— Permanent School Fund
Q-SBLF		— Qualified School Bond Loan Fund
RE		— Reinsured
Rev.		— Revenue
SCH BD GTY		— School Bond Guaranty


SCSDE		— South Carolina School District Enhancement
SIFMA		— Securities Industry and Financial Markets Association
SOFR		— Secured Overnight Financing Rate
SONYMA		— State of New York Mortgage Agency
TRAN		— Tax & Revenue Anticipation Note
VRDO		— Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of June 30, 2022.
(d)		— Defaulted Security. Security has not paid its last interest payment and/or interest is not being accrued.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(p)		— Security is prerefunded or escrowed to maturity.
(t)		— The date shown represents the earliest of the next put date or final maturity date.
(w)		— All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.
*		— The cost of securities is substantially the same for federal income tax purposes.
USD		— United States Dollar


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — 2.2%
Ally Auto Receivables Trust, Series 2019-3, Class A3, 1.93%, 05/15/2024		177		177
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,350		1,349
AMMC CLO 23 Ltd., (Cayman Islands), Series 2020-23A, Class A1R, (ICE LIBOR USD 3 Month + 1.04%), 2.08%, 10/17/2031 (e) (aa)		1,740		1,701
Avis Budget Rental Car Funding AESOP LLC,
Series 2019-3A, Class A, 2.36%, 03/20/2026 (e)		1,320		1,259
Series 2020-2A, Class A, 2.02%, 02/20/2027 (e)		1,150		1,057
Barings CLO Ltd., (Cayman Islands), Series 2019-3A, Class A1R, (ICE LIBOR USD 3 Month + 1.07%), 2.13%, 04/20/2031 (e) (aa)		1,640		1,599
BDS LLC, Series 2022-FL11, Class ATS, (CME Term SOFR 1 Month + 1.80%), 3.31%, 03/19/2039 (e) (aa)		2,470		2,421
BSPRT Issuer Ltd., (Cayman Islands), Series 2021-FL7, Class A, (ICE LIBOR USD 1 Month + 1.32%), 2.64%, 12/15/2038 (e) (aa)		1,770		1,706
Carlyle Global Market Strategies CLO 2015-5 Ltd., (Cayman Islands), Series 2015-5A, Class A1RR, (ICE LIBOR USD 3 Month + 1.08%), 2.14%, 01/20/2032 (e) (aa)		3,750		3,654
Carvana Auto Receivables Trust,
Series 2019-2A, Class C, 3.00%, 06/17/2024 (e)		51		51
Series 2021-N1, Class A, 0.70%, 01/10/2028		249		240
Series 2022-P1, Class A3, 3.35%, 02/10/2027		1,465		1,440
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.00%, 05/15/2030 (e)		675		643
Dell Equipment Finance Trust, Series 2021-2, Class A2, 0.33%, 12/22/2026 (e)		825		813
Drive Auto Receivables Trust,
Series 2019-4, Class C, 2.51%, 11/17/2025		516		516
Series 2021-2, Class A2, 0.36%, 05/15/2024		90		90
Exeter Automobile Receivables Trust,
Series 2021-2A, Class C, 0.98%, 06/15/2026		420		404
Series 2021-3A, Class D, 1.55%, 06/15/2027		855		801
Ford Credit Auto Owner Trust,
Series 2018-1, Class A, 3.19%, 07/15/2031 (e)		850		837
Series 2021-1, Class A, 1.37%, 10/17/2033 (e)		1,075		978


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Series 2022-1, Class A, 3.88%, 11/15/2034 (e)		975		964
Generate CLO 2 Ltd., (Cayman Islands), Series 2A, Class AR, (ICE LIBOR USD 3 Month + 1.15%), 2.29%, 01/22/2031 (e) (aa)		4,170		4,105
GM Financial Automobile Leasing Trust,
Series 2020-2, Class A3, 0.80%, 07/20/2023		358		358
Series 2022-2, Class A3, 3.42%, 06/20/2025		980		975
GREYWOLF CLO VI Ltd., (Cayman Islands), Series 2018-1A, Class A1, (ICE LIBOR USD 3 Month + 1.03%), 2.24%, 04/26/2031 (e) (aa)		3,460		3,391
Hertz Vehicle Financing III LP, Series 2021-2A, Class A, 1.68%, 12/27/2027 (e)		1,009		891
Honda Auto Receivables Owner Trust, Series 2021-1, Class A2, 0.16%, 07/21/2023		190		190
Jamestown CLO VI-R Ltd., (Cayman Islands), Series 2018-6RA, Class A1, (ICE LIBOR USD 3 Month + 1.15%), 2.33%, 04/25/2030 (e) (aa)		950		936
Lendmark Funding Trust,
Series 2021-1A, Class A, 1.90%, 11/20/2031 (e)		795		690
Series 2021-2A, Class A, 2.00%, 04/20/2032 (e)		915		786
Mariner Finance Issuance Trust, Series 2021-BA, Class A, 2.10%, 11/20/2036 (e)		895		790
MF1 Ltd., (Cayman Islands), Series 2022-FL8, Class AS, (United States 30 Day Average SOFR + 1.75%), 2.54%, 02/19/2037 (e) (aa)		2,500		2,375
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36%, 04/20/2062 (e)		692		641
New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.91%, 10/20/2061 (e)		4,480		3,912
OneMain Financial Issuance Trust, Series 2019-2A, Class A, 3.14%, 10/14/2036 (e)		800		743
Pagaya AI Debt Trust, Series 2022-1, Class A, 2.03%, 10/15/2029 (e)		922		891
Race Point VIII CLO Ltd., (Cayman Islands), Series 2013-8A, Class AR2, (ICE LIBOR USD 3 Month + 1.04%), 2.52%, 02/20/2030 (e) (aa)		4,857		4,782
Santander Consumer Auto Receivables Trust, Series 2020-BA, Class C, 1.29%, 04/15/2026 (e)		1,066		1,021
SCF Equipment Leasing LLC,
Series 2019-2A, Class A2, 2.47%, 04/20/2026 (e)		1,086		1,072


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Asset-Backed Securities — continued
Series 2021-1A, Class A2, 0.42%, 08/20/2026 (e)		88		88
Series 2021-1A, Class A3, 0.83%, 08/21/2028 (e)		500		482
Series 2021-1A, Class B, 1.37%, 08/20/2029 (e)		1,000		919
STAR Trust, Series 2022-SFR3, Class A, (CME Term SOFR 1 Month + 1.65%), 3.16%, 05/17/2024 (e) (aa)		3,649		3,624
Upstart Securitization Trust, Series 2021-5, Class A, 1.31%, 11/20/2031 (e)		1,264		1,217
Voya CLO Ltd., (Cayman Islands),
Series 2014-2A, Class A1RR, (ICE LIBOR USD 3 Month + 1.02%), 2.06%, 04/17/2030 (e) (aa)		4,969		4,897
Series 2016-1A, Class A1R, (ICE LIBOR USD 3 Month + 1.07%), 2.13%, 01/20/2031 (e) (aa)		8,500		8,349
Westlake Automobile Receivables Trust, Series 2020-1A, Class B, 1.94%, 04/15/2025 (e)		541		541

Total Asset-Backed Securities (Cost $73,805)				71,366

Collateralized Mortgage Obligations — 0.1%
CSMC,
Series 2021-NQM1, Class A1, 0.81%, 05/25/2065 (e) (z)		765		734
Series 2021-NQM3, Class A1, 1.02%, 04/25/2066 (e) (z)		418		381
Series 2021-NQM7, Class A1, 1.76%, 10/25/2066 (e) (z)		684		594
Series 2022-NQM1, Class A1, 2.27%, 11/25/2066 (e) (z)		952		844
Verus Securitization Trust,
Series 2021-1, Class A1, 0.82%, 01/25/2066 (e) (z)		241		220
Series 2021-3, Class A1, 1.05%, 06/25/2066 (e) (z)		616		545
Series 2021-R2, Class A1, 0.92%, 02/25/2064 (e) (z)		833		805
Series 2021-R3, Class A1, 1.02%, 04/25/2064 (e) (z)		423		402

Total Collateralized Mortgage Obligations (Cost $4,928)				4,525

Commercial Mortgage-Backed Securities — 0.9%
BBCMS Mortgage Trust, Series 2018-TALL, Class C, (ICE LIBOR USD 1 Month + 1.12%), 2.45%, 03/15/2037 (e) (aa)		1,600		1,440
BWAY Mortgage Trust, Series 2015-1740, Class C, 3.34%, 01/10/2035 (e)		2,750		2,459
BX Commercial Mortgage Trust,
Series 2021-ACNT, Class A, (ICE LIBOR USD 1 Month + 0.85%), 2.18%, 11/15/2038 (e) (aa)		1,770		1,703


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Series 2021-XL2, Class A, (ICE LIBOR USD 1 Month + 0.69%), 2.01%, 10/15/2038 (e) (aa)		1,643		1,565
BX Trust, Series 2017-SLCT, Class F, (ICE LIBOR USD 1 Month + 4.25%), 5.57%, 07/15/2034 (e) (aa)		1,700		1,636
BXHPP Trust, Series 2021-FILM, Class B, (ICE LIBOR USD 1 Month + 0.90%), 2.22%, 08/15/2036 (e) (aa)		600		561
Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class XA, IO, 1.10%, 02/15/2053 (z)		45,144		2,510
CSMC, Series 2021-BHAR, Class A, (ICE LIBOR USD 1 Month + 1.15%), 2.48%, 11/15/2038 (e) (aa)		2,000		1,935
DBWF Mortgage Trust, Series 2018-GLKS, Class A, (ICE LIBOR USD 1 Month + 1.03%), 2.63%, 12/19/2030 (e) (aa)		452		438
Great Wolf Trust, Series 2019-WOLF, Class A, (ICE LIBOR USD 1 Month + 1.03%), 2.36%, 12/15/2036 (e) (aa)		1,850		1,799
GS Mortgage Securities Corp. Trust,
Series 2021-ROSS, Class A, (ICE LIBOR USD 1 Month + 1.15%), 2.48%, 05/15/2026 (e) (aa)		720		694
Series 2021-ROSS, Class H, (ICE LIBOR USD 1 Month + 5.90%), 7.23%, 05/15/2026 (e) (aa)		270		249
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2013-C7, Class A4, 2.92%, 02/15/2046		1,860		1,849
Series 2016-C29, Class A4, 3.33%, 05/15/2049		900		870
Morgan Stanley Capital I Trust, Series 2014-150E, Class A, 3.91%, 09/09/2032 (e)		3,220		3,129
PFP Ltd., (Cayman Islands), Series 2019-6, Class C, (ICE LIBOR USD 1 Month + 2.10%), 3.61%, 04/14/2037 (e) (aa)		1,297		1,293
VNDO Mortgage Trust, Series 2012-6AVE, Class A, 3.00%, 11/15/2030 (e)		700		699
Waikiki Beach Hotel Trust, Series 2019-WBM, Class D, (ICE LIBOR USD 1 Month + 2.03%), 3.35%, 12/15/2033 (e) (aa)		600		566
WFRBS Commercial Mortgage Trust,
Series 2013-C15, Class AS, 4.36%, 08/15/2046 (z)		1,000		990
Series 2014-C19, Class A5, 4.10%, 03/15/2047		2,745		2,741

Total Commercial Mortgage-Backed Securities (Cost $31,371)				29,126


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Convertible Bonds — 0.5%
Communications — 0.2%
Internet — 0.1%
Airbnb, Inc., Zero Coupon, 03/15/2026		579		481
Booking Holdings, Inc., 0.75%, 05/01/2025		393		471
Uber Technologies, Inc., Zero Coupon, 12/15/2025		1,570		1,253
Zillow Group, Inc., 1.38%, 09/01/2026		54		54


				2,259

Media — 0.1%
Cable One, Inc., 1.13%, 03/15/2028		986		826
DISH Network Corp., 3.38%, 08/15/2026		261		176
Liberty Broadband Corp.,
1.25%, 09/30/2050 (e)		375		350
2.75%, 09/30/2050 (e)		870		828


				2,180

Total Communications				4,439

Consumer Cyclical — 0.0% (g)
Airlines — 0.0% (g)
International Consolidated Airlines Group SA, (Spain), Reg. S, 1.13%, 05/18/2028	EUR	100		70

Auto Manufacturers — 0.0% (g)
Ford Motor Co., Zero Coupon, 03/15/2026		216		197

Retail — 0.0% (g)
National Vision Holdings, Inc., 2.50%, 05/15/2025		246		276

Total Consumer Cyclical				543

Consumer Non-cyclical — 0.0% (g)
Commercial Services — 0.0% (g)
Shift4 Payments, Inc., Zero Coupon, 12/15/2025		292		234

Healthcare — Services — 0.0% (g)
Elevance Health, Inc., 2.75%, 10/15/2042		66		453

Total Consumer Non-cyclical				687

Energy — 0.1%
Oil & Gas — 0.1%
Centennial Resource Production LLC, 3.25%, 04/01/2028		491		611
CNX Resources Corp., 2.25%, 05/01/2026		538		786
EQT Corp., 1.75%, 05/01/2026		226		532
Pioneer Natural Resources Co., 0.25%, 05/15/2025		265		573

Total Energy				2,502

Financial — 0.2%
Banks — 0.1%
Barclays Bank plc, (United Kingdom),
Zero Coupon, 02/04/2025		643		883
Series VUN, Zero Coupon, 02/18/2025		969		967
BofA Finance LLC, 0.13%, 09/01/2022		712		709


				2,559

Investment Companies — 0.1%
Cerah Capital Ltd., (Malaysia), Reg. S, Zero Coupon, 08/08/2024		4,800		4,786

Total Financial				7,345


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Industrial — 0.0% (g)
Engineering & Construction — 0.0% (g)
Cellnex Telecom SA, (Spain), Reg. S, 0.75%, 11/20/2031	EUR	500		357

Technology — 0.0% (g)
Semiconductors — 0.0% (g)
ams-OSRAM AG, (Austria), Reg. S, Zero Coupon, 03/05/2025	EUR	400		327
Microchip Technology, Inc.,
0.13%, 11/15/2024		435		433
1.63%, 02/15/2025		91		226

Total Technology				986

Total Convertible Bonds (Cost $17,415)				16,859

Corporate Bonds — 78.5%
Basic Materials — 4.9%
Chemicals — 1.6%
Ashland LLC,
3.38%, 09/01/2031 (e)		2,594		2,111
6.88%, 05/15/2043		500		502
Axalta Coating Systems LLC, 3.38%, 02/15/2029 (e)		3,536		2,887
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV, (Multinational), 4.75%, 06/15/2027 (e)		1,218		1,086
Chemours Co. (The),
4.00%, 05/15/2026	EUR	400		371
4.63%, 11/15/2029 (e)		1,150		904
5.75%, 11/15/2028 (e)		2,088		1,780
CNAC HK Finbridge Co. Ltd., (Hong Kong),
Reg. S, 3.38%, 06/19/2024		3,400		3,362
Reg. S, 4.13%, 07/19/2027		1,300		1,262
Diamond BC BV, (Netherlands), 4.63%, 10/01/2029 (e)		4,929		3,942
Element Solutions, Inc., 3.88%, 09/01/2028 (e)		6,965		5,747
EverArc Escrow Sarl, (Luxembourg), 5.00%, 10/30/2029 (e)		3,098		2,608
FIS Fabbrica Italiana Sintetici SpA, (Italy), Reg. S, 5.63%, 08/01/2027	EUR	100		88
GC Treasury Center Co. Ltd., (Thailand), 5.20%, 03/30/2052 (e)		800		696
Herens Holdco Sarl, (Luxembourg), 4.75%, 05/15/2028 (e)		2,462		2,045
Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.00%, 07/01/2028 (e)		2,153		1,701
Kobe US Midco 2, Inc., 9.25% (cash), 11/01/2026 (e) (v)		86		79
Kronos International, Inc., Reg. S, 3.75%, 09/15/2025	EUR	300		280
Monitchem HoldCo 3 SA, (Luxembourg), Reg. S, 5.25%, 03/15/2025	EUR	400		384
NOVA Chemicals Corp., (Canada), 4.88%, 06/01/2024 (e)		165		157


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Chemicals — continued
Olympus Water US Holding Corp., 6.25%, 10/01/2029 (e)		300		209
Orbia Advance Corp. SAB de CV, (Mexico), 1.88%, 05/11/2026 (e)		249		222
Rain CII Carbon LLC / CII Carbon Corp., 7.25%, 04/01/2025 (e)		2,795		2,588
SCIH Salt Holdings, Inc., 6.63%, 05/01/2029 (e)		350		275
SCIL IV LLC / SCIL USA Holdings LLC,
Reg. S, 4.38%, 11/01/2026	EUR	200		170
5.38%, 11/01/2026 (e)		717		573
SPCM SA, (France),
3.13%, 03/15/2027 (e)		730		615
3.38%, 03/15/2030 (e)		1,080		845
TPC Group, Inc.,
10.50%, 08/01/2024 (d) (e)		1,150		630
10.88%, 08/01/2024 (d) (e)		783		775
Tronox, Inc., 4.63%, 03/15/2029 (e)		1,715		1,380
Valvoline, Inc., 3.63%, 06/15/2031 (e)		3,050		2,435
Venator Finance Sarl / Venator Materials LLC, (Multinational),
5.75%, 07/15/2025 (e)		1,835		1,470
9.50%, 07/01/2025 (e)		529		529
WR Grace Holdings LLC, 4.88%, 06/15/2027 (e)		540		470
5.63%, 08/15/2029 (e)		7,481		5,508


				50,686

Iron/Steel — 1.1%
ABJA Investment Co. Pte Ltd., (Singapore), Reg. S, 5.45%, 01/24/2028		9,500		8,968
Allegheny Technologies, Inc., 4.88%, 10/01/2029		816		652
5.13%, 10/01/2031		441		338
Baffinland Iron Mines Corp. / Baffinland Iron Mines LP, (Canada), 8.75%, 07/15/2026 (e)		458		399
Big River Steel LLC / BRS Finance Corp., 6.63%, 01/31/2029 (e)		6,550		6,078
Carpenter Technology Corp., 6.38%, 07/15/2028		510		455
7.63%, 03/15/2030		1,450		1,332
Commercial Metals Co., 4.13%, 01/15/2030		264		222
4.38%, 03/15/2032		425		348
Mineral Resources Ltd., (Australia), 8.00%, 11/01/2027 (e)		155		152
8.13%, 05/01/2027 (e)		2,537		2,467
8.50%, 05/01/2030 (e)		155		153
Periama Holdings LLC, Reg. S, 5.95%, 04/19/2026		14,400		12,888
POSCO Holdings, Inc., (South Korea), 2.38%, 11/12/2022 (e)		245		244
Steel Dynamics, Inc., 5.00%, 12/15/2026		161		160
thyssenkrupp AG, (Germany), Reg. S, 2.88%, 02/22/2024	EUR	100		101


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Iron/Steel — continued
TMS International Corp., 6.25%, 04/15/2029 (e)		200		145
United States Steel Corp., 6.88%, 03/01/2029		2,340		2,024


				37,126

Mining — 2.2%
Alcoa Nederland Holding BV, (Netherlands), 5.50%, 12/15/2027 (e)		446		423
Anglo American Capital plc, (United Kingdom), 4.88%, 05/14/2025 (e)		344		347
Arconic Corp., 6.00%, 05/15/2025 (e)		1,780		1,736
6.13%, 02/15/2028 (e)		1,226		1,130
Bukit Makmur Mandiri Utama PT, (Indonesia), Reg. S, 7.75%, 02/10/2026		2,600		2,210
China Hongqiao Group Ltd., (Cayman Islands),
Reg. S, 6.25%, 06/08/2024		3,800		3,515
Reg. S, 7.38%, 05/02/2023		1,600		1,586
Constellium SE, (France), 3.75%, 04/15/2029 (e)		3,414		2,718
Reg. S, 4.25%, 02/15/2026	EUR	200		189
5.63%, 06/15/2028 (e)		508		454
5.88%, 02/15/2026 (e)		3,517		3,284
Eldorado Gold Corp., (Canada), 6.25%, 09/01/2029 (e)		775		632
First Quantum Minerals Ltd., (Canada), 6.50%, 03/01/2024 (e)		4,285		4,120
6.88%, 03/01/2026 (e)		335		308
6.88%, 10/15/2027 (e)		1,812		1,622
7.50%, 04/01/2025 (e)		2,711		2,563
FMG Resources August 2006 Pty Ltd., (Australia), 5.13%, 05/15/2024 (e)		159		153
6.13%, 04/15/2032 (e)		2,220		1,998
Freeport Indonesia PT, (Indonesia), Reg. S, 5.32%, 04/14/2032		4,400		3,989
Glencore Funding LLC, 1.63%, 04/27/2026 (e)		396		351
4.00%, 03/27/2027 (e)		283		273
4.13%, 05/30/2023 (e)		250		249
4.63%, 04/29/2024 (e)		558		558
Hecla Mining Co., 7.25%, 02/15/2028		1,308		1,240
Hudbay Minerals, Inc., (Canada), 6.13%, 04/01/2029 (e)		3,956		3,208
Indonesia Asahan Aluminium Persero PT, (Indonesia), Reg. S, 6.53%, 11/15/2028		4,100		4,158
Kaiser Aluminum Corp., 4.50%, 06/01/2031 (e)		3,618		2,748
4.63%, 03/01/2028 (e)		2,399		1,997
Kinross Gold Corp., (Canada), 5.95%, 03/15/2024		207		212
New Gold, Inc., (Canada), 7.50%, 07/15/2027 (e)		2,496		2,175


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Mining — continued
Novelis Corp., 3.25%, 11/15/2026 (e)		3,215		2,718
3.88%, 08/15/2031 (e)		2,176		1,668
4.75%, 01/30/2030 (e)		5,886		4,892
Vedanta Resources Finance II plc, (United Kingdom), 8.95%, 03/11/2025 (e)		200		158
Reg. S, 8.95%, 03/11/2025		17,000		13,430


				73,012

Total Basic Materials				160,824

Communications — 10.8%
Advertising — 0.5%
Clear Channel International BV, (Netherlands), 6.63%, 08/01/2025 (e)		1,608		1,495
Clear Channel Outdoor Holdings, Inc., 5.13%, 08/15/2027 (e)		5,372		4,513
7.50%, 06/01/2029 (e)		1,335		958
7.75%, 04/15/2028 (e)		1,353		982
CMG Media Corp., 8.88%, 12/15/2027 (e)		7,487		5,907
Outfront Media Capital LLC / Outfront Media Capital Corp., 4.25%, 01/15/2029 (e)		3,157		2,515
5.00%, 08/15/2027 (e)		952		832
Summer BC Holdco B Sarl, (Luxembourg), Reg. S, 5.75%, 10/31/2026	EUR	400		365


				17,567

Internet — 0.9%
Acuris Finance US, Inc. / Acuris Finance Sarl, 5.00%, 05/01/2028 (e)		3,167		2,628
ANGI Group LLC, 3.88%, 08/15/2028 (e)		1,234		939
Arches Buyer, Inc., 4.25%, 06/01/2028 (e)		115		93
Cablevision Lightpath LLC, 3.88%, 09/15/2027 (e)		3,975		3,289
5.63%, 09/15/2028 (e)		1,050		822
Go Daddy Operating Co. LLC / GD Finance Co., Inc., 3.50%, 03/01/2029 (e)		1,770		1,489
iliad SA, (France), Reg. S, 2.38%, 06/17/2026	EUR	100		92
ION Trading Technologies Sarl, (Luxembourg), 5.75%, 05/15/2028 (e)		1,649		1,319
Match Group Holdings II LLC, 3.63%, 10/01/2031 (e)		399		314
4.63%, 06/01/2028 (e)		1,575		1,428
Netflix, Inc., 4.38%, 11/15/2026		860		824
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/2027 (e)		797		656
6.00%, 02/15/2028 (e)		1,184		851
10.75%, 06/01/2028 (e)		483		430
NortonLifeLock, Inc., 5.00%, 04/15/2025 (e)		1,185		1,155
Prosus NV, (Netherlands),
Reg. S, 3.06%, 07/13/2031		3,300		2,436
3.26%, 01/19/2027 (e)		300		261


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Internet — continued
Twitter, Inc., 3.88%, 12/15/2027 (e)		230		216
5.00%, 03/01/2030 (e)		226		215
Uber Technologies, Inc., 4.50%, 08/15/2029 (e)		4,936		4,055
6.25%, 01/15/2028 (e)		102		94
7.50%, 09/15/2027 (e)		4,345		4,209
8.00%, 11/01/2026 (e)		568		566
United Group BV, (Netherlands), Reg. S, 4.88%, 07/01/2024	EUR	600		571
VeriSign, Inc., 5.25%, 04/01/2025		550		553


				29,505

Media — 4.4%
Altice Financing SA, (Luxembourg),
Reg. S, 2.25%, 01/15/2025	EUR	200		184
Reg. S, 3.00%, 01/15/2028	EUR	100		78
Reg. S, 4.25%, 08/15/2029	EUR	107		84
5.00%, 01/15/2028 (e)		515		410
5.75%, 08/15/2029 (e)		5,873		4,713
AMC Networks, Inc., 4.75%, 08/01/2025		1,227		1,131
Cable One, Inc., 4.00%, 11/15/2030 (e)		1,387		1,137
CCO Holdings LLC / CCO Holdings Capital Corp., 4.25%, 02/01/2031 (e)		14,733		12,007
4.25%, 01/15/2034 (e)		9,246		7,143
4.50%, 08/15/2030 (e)		1,358		1,129
4.50%, 05/01/2032		1,809		1,461
4.50%, 06/01/2033 (e)		2,388		1,886
4.75%, 03/01/2030 (e)		3,583		3,067
4.75%, 02/01/2032 (e)		1,008		832
5.00%, 02/01/2028 (e)		4,312		3,969
5.13%, 05/01/2027 (e)		8,659		8,172
Charter Communications Operating LLC / Charter Communications Operating Capital, 5.25%, 04/01/2053		1,339		1,143
5.50%, 04/01/2063		937		801
CSC Holdings LLC, 3.38%, 02/15/2031 (e)		200		148
4.13%, 12/01/2030 (e)		9,178		7,159
4.50%, 11/15/2031 (e)		3,072		2,361
4.63%, 12/01/2030 (e)		4,535		3,039
5.00%, 11/15/2031 (e)		2,775		1,870
5.25%, 06/01/2024		350		328
5.38%, 02/01/2028 (e)		825		714
5.50%, 04/15/2027 (e)		1,815		1,624
5.75%, 01/15/2030 (e)		2,999		2,182
6.50%, 02/01/2029 (e)		1,500		1,350
Diamond Sports Group LLC / Diamond Sports Finance Co., 5.38%, 08/15/2026 (e)		5,682		1,420
6.63%, 08/15/2027 (e)		10,239		1,229
Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.88%, 08/15/2027 (e)		1,803		1,550


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Media — continued
DISH DBS Corp.,
5.00%, 03/15/2023		2,464		2,353
5.13%, 06/01/2029		794		480
5.25%, 12/01/2026 (e)		3,875		3,023
5.75%, 12/01/2028 (e)		2,808		2,079
5.88%, 07/15/2022		243		243
5.88%, 11/15/2024		3,000		2,535
7.38%, 07/01/2028		5,273		3,563
7.75%, 07/01/2026		4,930		3,858
FactSet Research Systems, Inc., 2.90%, 03/01/2027		120		112
GCI LLC, 4.75%, 10/15/2028 (e)		182		158
Gray Television, Inc., 5.88%, 07/15/2026 (e)		3,750		3,505
iHeartCommunications, Inc.,
5.25%, 08/15/2027 (e)		600		513
6.38%, 05/01/2026		1,500		1,388
8.38%, 05/01/2027		770		612
LCPR Senior Secured Financing DAC, (Ireland),
5.13%, 07/15/2029 (e)		3,926		3,278
6.75%, 10/15/2027 (e)		200		187
Midcontinent Communications / Midcontinent Finance Corp., 5.38%, 08/15/2027 (e)		1,175		1,081
News Corp., 3.88%, 05/15/2029 (e)		250		216
Nexstar Media, Inc., 4.75%, 11/01/2028 (e)		2,100		1,801
Radiate Holdco LLC / Radiate Finance, Inc., 4.50%, 09/15/2026 (e)		5,712		4,926
6.50%, 09/15/2028 (e)		8,888		6,869
Sinclair Television Group, Inc., 4.13%, 12/01/2030 (e)		3,346		2,654
5.13%, 02/15/2027 (e)		36		30
Sirius XM Radio, Inc., 3.13%, 09/01/2026 (e)		2,639		2,329
3.88%, 09/01/2031 (e)		2,455		1,970
4.00%, 07/15/2028 (e)		114		99
4.13%, 07/01/2030 (e)		47		39
5.00%, 08/01/2027 (e)		751		695
5.50%, 07/01/2029 (e)		134		122
Tele Columbus AG, (Germany), Reg. S, 3.88%, 05/02/2025	EUR	444		390
Telenet Finance Luxembourg Notes Sarl, (Luxembourg), 5.50%, 03/01/2028 (e)		2,000		1,765
Univision Communications, Inc., 5.13%, 02/15/2025 (e)		3,150		2,964
6.63%, 06/01/2027 (e)		6,381		6,066
7.38%, 06/30/2030 (e)		395		388
UPC Broadband Finco BV, (Netherlands), 4.88%, 07/15/2031 (e)		1,789		1,458
Videotron Ltd., (Canada), 3.63%, 06/15/2029 (e)		1,498		1,218
Virgin Media Finance plc, (United Kingdom), Reg. S, 3.75%, 07/15/2030	EUR	100		78


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Media — continued
Virgin Media Vendor Financing Notes III DAC, (Ireland), Reg. S, 4.88%, 07/15/2028	GBP	500		487
Virgin Media Vendor Financing Notes IV DAC, (Ireland), 5.00%, 07/15/2028 (e)		2,336		1,933
VZ Secured Financing BV, (Netherlands), 5.00%, 01/15/2032 (e)		1,475		1,224
Ziggo Bond Co. BV, (Netherlands), 5.13%, 02/28/2030 (e)		1,399		1,097
Ziggo BV, (Netherlands), 4.88%, 01/15/2030 (e)		152		129


				144,236

Telecommunications — 5.0%
Altice France Holding SA, (Luxembourg), 10.50%, 05/15/2027 (e)		9,421		7,842
Altice France SA, (France),
Reg. S, 4.13%, 01/15/2029	EUR	400		316
5.13%, 07/15/2029 (e)		4,093		3,090
5.50%, 01/15/2028 (e)		155		123
5.50%, 10/15/2029 (e)		1,088		831
8.13%, 02/01/2027 (e)		6,418		5,907
Arqiva Broadcast Finance plc, (United Kingdom), Reg. S, 6.75%, 09/30/2023	GBP	200		232
Avaya, Inc., 6.13%, 09/15/2028 (e)		491		320
Bharti Airtel Ltd., (India), Reg. S, 4.38%, 06/10/2025		11,500		11,462
CommScope Technologies LLC, 6.00%, 06/15/2025 (e)		3,617		3,129
CommScope, Inc., 4.75%, 09/01/2029 (e)		1,270		1,025
6.00%, 03/01/2026 (e)		1,100		1,011
7.13%, 07/01/2028 (e)		275		208
8.25%, 03/01/2027 (e)		91		72
Connect Finco Sarl / Connect US Finco LLC, (Multinational), 6.75%, 10/01/2026 (e)		8,261		7,383
Consolidated Communications, Inc., 6.50%, 10/01/2028 (e)		2,333		1,963
Digicel Group Holdings Ltd., (Bermuda), 10.00% (Blend (cash 8.00% + PIK 2.00%)), 04/01/2024 (v)		1,500		1,459
Digicel International Finance Ltd. / Digicel international Holdings Ltd., (Multinational), 8.00%, 12/31/2026 (e)		6,725		4,461
Digicel Ltd., (Bermuda), 6.75%, 03/01/2023 (e)		13,500		8,100
Frontier Communications Holdings LLC, 5.00%, 05/01/2028 (e)		60		51
5.88%, 10/15/2027 (e)		769		692
6.00%, 01/15/2030 (e)		153		118
6.75%, 05/01/2029 (e)		3,165		2,604
8.75%, 05/15/2030 (e)		5,529		5,619
Globe Telecom, Inc., (Philippines),
Reg. S, 3.00%, 07/23/2035		4,200		3,047
Reg. S, (CMT Index 5 Year + 5.53%), 4.20%, 08/02/2026 (x) (aa)		6,300		5,922


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Telecommunications — continued
Iliad Holding SASU, (France), 6.50%, 10/15/2026 (e)		6,126		5,518
7.00%, 10/15/2028 (e)		2,643		2,295
Intelsat Jackson Holdings SA, (Luxembourg), 5.50%, 08/01/2023 (d) (bb) (cc)		3,425		—	(h)
6.50%, 03/15/2030 (e)		5,820		4,801
8.50%, 10/15/2024 (e) (d) (bb) (cc)		3,800		—	(h)
9.75%, 07/15/2025 (e) (d) (bb) (cc)		1,875		—	(h)
Level 3 Financing, Inc.,
3.40%, 03/01/2027 (e)		183		157
3.63%, 01/15/2029 (e)		545		420
3.75%, 07/15/2029 (e)		3,895		3,012
4.25%, 07/01/2028 (e)		772		624
5.25%, 03/15/2026		250		236
5.38%, 05/01/2025		3,250		3,128
Ligado Networks LLC, 15.50% (PIK), 11/01/2023 (e) (v)		317		172
Lorca Telecom Bondco SA, (Spain), Reg. S, 4.00%, 09/18/2027	EUR	419		367
Lumen Technologies, Inc., 4.00%, 02/15/2027 (e)		405		343
4.50%, 01/15/2029 (e)		4,733		3,524
5.13%, 12/15/2026 (e)		2,572		2,165
5.38%, 06/15/2029 (e)		461		365
Series U, 7.65%, 03/15/2042		180		138
Maxar Technologies, Inc., 7.75%, 06/15/2027 (e)		257		256
Nokia OYJ, (Finland), 6.63%, 05/15/2039		580		573
SES SA, (Luxembourg), Reg. S, (EUR Swap Rate 5 Year + 3.19%), 2.88%, 05/27/2026 (x) (aa)	EUR	300		262
SoftBank Group Corp., (Japan),
Reg. S, 5.00%, 04/15/2028	EUR	100		83
Reg. S, (USD ICE Swap Rate 5 Year + 4.23%), 6.00%, 07/19/2023 (x) (aa)		300		267
Sprint Capital Corp., 6.88%, 11/15/2028		3,040		3,197
8.75%, 03/15/2032		7,329		8,820
Sprint Corp., 7.13%, 06/15/2024		5,984		6,141
7.63%, 02/15/2025		1,390		1,449
7.63%, 03/01/2026		6,235		6,569
7.88%, 09/15/2023		2,000		2,063
Switch Ltd., 3.75%, 09/15/2028 (e)		199		197
4.13%, 06/15/2029 (e)		1,823		1,804
Telecom Italia Capital SA, (Luxembourg), 6.00%, 09/30/2034		367		277
6.38%, 11/15/2033		500		386
7.20%, 07/18/2036		890		676
Telecom Italia Finance SA, (Luxembourg), Reg. S, 7.75%, 01/24/2033	EUR	300		324
Telecom Italia SpA, (Italy),
Reg. S, 1.63%, 01/18/2029	EUR	400		303


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Telecommunications — continued
5.30%, 05/30/2024 (e)		200		191
Telefonica Europe BV, (Netherlands), Reg. S, (EUR Swap Rate 8 Year + 2.97%), 3.88%, 06/22/2026 (x) (aa)	EUR	200		187
T-Mobile USA, Inc., 3.38%, 04/15/2029		504		440
3.50%, 04/15/2031 (e)		1,097		954
2.63%, 02/15/2029		2,562		2,157
2.88%, 02/15/2031		240		198
Viasat, Inc., 5.63%, 09/15/2025 (e)		3,330		2,694
5.63%, 04/15/2027 (e)		393		340
6.50%, 07/15/2028 (e)		132		91
Viavi Solutions, Inc., 3.75%, 10/01/2029 (e)		546		457
Vmed O2 UK Financing I plc, (United Kingdom),
Reg. S, 4.00%, 01/31/2029	GBP	100		97
4.25%, 01/31/2031 (e)		549		441
4.75%, 07/15/2031 (e)		2,327		1,880
Vodafone Group plc, (United Kingdom),
Reg. S, (USD Semi-annual Swap Rate 5 Year + 3.05%), 6.25%, 10/03/2078 (aa)		200		191
Series NC10, Reg. S, (EUR Swap Rate 5 Year + 3.23%), 3.00%, 08/27/2080 (aa)	EUR	100		79
Zayo Group Holdings, Inc., 4.00%, 03/01/2027 (e)		7,510		6,205
6.13%, 03/01/2028 (e)		8,872		6,407


				160,908

Total Communications				352,216

Consumer Cyclical — 14.4%
Airlines — 1.2%
Air Canada, (Canada), 3.88%, 08/15/2026 (e)		1,150		973
Air France-KLM, (France), Reg. S, 3.88%, 07/01/2026	EUR	500		424
American Airlines Group, Inc., 3.75%, 03/01/2025 (e)		205		173
American Airlines, Inc., 11.75%, 07/15/2025 (e)		5,488		5,702
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., (Multinational), 5.50%, 04/20/2026 (e)		924		849
5.75%, 04/20/2029 (e)		8,160		6,984
British Airways 2013-1 Class A Pass Through Trust, 4.63%, 06/20/2024 (e)		206		203
Cathay Pacific MTN Financing HK Ltd., (Hong Kong), Reg. S, 4.88%, 08/17/2026		2,200		2,005
Delta Air Lines, Inc., 7.00%, 05/01/2025 (e)		297		301
Deutsche Lufthansa AG, (Germany), Reg. S, 3.50%, 07/14/2029	EUR	400		315


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Airlines — continued
Finnair OYJ, (Finland), Reg. S, 4.25%, 05/19/2025	EUR	125		108
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., (Cayman Islands), 5.75%, 01/20/2026 (e)		4,633		4,122
International Consolidated Airlines Group SA, (Spain), Reg. S, 2.75%, 03/25/2025	EUR	300		266
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/2027 (e)		2,879		2,829
Singapore Airlines Ltd., (Singapore),
Reg. S, 3.00%, 07/20/2026		5,600		5,318
Reg. S, 3.38%, 01/19/2029		1,600		1,453
Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd., (Cayman Islands), 8.00%, 09/20/2025 (e)		1		1
United Airlines Pass Through Trust, Series 2020-1
Class A, 5.88%, 10/15/2027		90		88
Class B, 4.88%, 01/15/2026		50		48
United Airlines, Inc., 4.38%, 04/15/2026 (e)		3,302		2,947
4.63%, 04/15/2029 (e)		6,603		5,559


				40,668

Apparel — 0.4%
Crocs, Inc., 4.13%, 08/15/2031 (e)		1,419		1,004
4.25%, 03/15/2029 (e)		326		241
Hanesbrands, Inc., 4.88%, 05/15/2026 (e)		3,350		3,103
Kontoor Brands, Inc., 4.13%, 11/15/2029 (e)		1,700		1,350
Levi Strauss & Co., 3.50%, 03/01/2031 (e)		180		147
PVH Corp., 4.63%, 07/10/2025		190		189
William Carter Co. (The), 5.63%, 03/15/2027 (e)		2,855		2,674
Wolverine World Wide, Inc., 4.00%, 08/15/2029 (e)		3,550		2,848


				11,556

Auto Manufacturers — 1.3%
Allison Transmission, Inc., 3.75%, 01/30/2031 (e)		2,800		2,244
Ford Motor Co., 3.25%, 02/12/2032		5,121		3,797
4.75%, 01/15/2043		6,909		4,919
5.29%, 12/08/2046		2,200		1,687
7.40%, 11/01/2046		1,275		1,264
9.00%, 04/22/2025		500		537
Ford Motor Credit Co. LLC, 2.30%, 02/10/2025		1,700		1,525
(ICE LIBOR USD 3 Month + 1.08%), 2.37%, 08/03/2022 (aa)		750		748
2.70%, 08/10/2026		2,508		2,138


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Auto Manufacturers — continued
2.90%, 02/16/2028		577		466
2.98%, 08/03/2022		885		885
3.63%, 06/17/2031		600		465
3.82%, 11/02/2027		400		340
4.00%, 11/13/2030		1,493		1,210
4.13%, 08/17/2027		440		388
4.13%, 08/04/2025		597		566
4.27%, 01/09/2027		2,500		2,242
4.39%, 01/08/2026		908		836
4.95%, 05/28/2027		200		184
5.11%, 05/03/2029		5,409		4,849
5.13%, 06/16/2025		8,145		7,815
5.58%, 03/18/2024		579		576
General Motors Financial Co., Inc., 2.75%, 06/20/2025		1,000		939
Series C, (CMT Index 5 Year + 5.00%), 5.70%, 09/30/2030 (x) (aa)		5		5
Hyundai Capital America, 0.80%, 01/08/2024 (e)		500		475
Jaguar Land Rover Automotive plc, (United Kingdom), Reg. S, 4.50%, 07/15/2028	EUR	400		299
PM General Purchaser LLC, 9.50%, 10/01/2028 (e)		1,585		1,281
RCI Banque SA, (France), Reg. S, (EUR Swap Rate 5 Year + 2.85%), 2.63%, 02/18/2030 (aa)	EUR	100		91
Volkswagen Group of America Finance LLC, 3.35%, 05/13/2025 (e)		400		387
Volkswagen International Finance NV, (Netherlands), Reg. S, (EUR Swap Rate 9 Year + 3.36%), 4.38%, 03/28/2031 (x) (aa)	EUR	100		84
Wabash National Corp., 4.50%, 10/15/2028 (e)		476		364


				43,606

Auto Parts & Equipment — 0.9%
Adient Global Holdings Ltd., (Jersey), 4.88%, 08/15/2026 (e)		1,325		1,163
American Axle & Manufacturing, Inc., 5.00%, 10/01/2029		1,700		1,381
6.50%, 04/01/2027		3,700		3,274
Clarios Global LP / Clarios US Finance Co., (Multinational),
Reg. S, 4.38%, 05/15/2026	EUR	100		92
6.25%, 05/15/2026 (e)		4,716		4,539
8.50%, 05/15/2027 (e)		10,254		9,910
Cooper-Standard Automotive, Inc., 5.63%, 11/15/2026 (e)		875		411
Dana, Inc., 4.25%, 09/01/2030		950		737
4.50%, 02/15/2032		575		426
5.38%, 11/15/2027		1,200		1,039
5.63%, 06/15/2028		700		603


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Auto Parts & Equipment — continued
Dealer Tire LLC / DT Issuer LLC, 8.00%, 02/01/2028 (e)		186		161
Faurecia SE, (France), Reg. S, 2.75%, 02/15/2027	EUR	400		326
Gestamp Automocion SA, (Spain), Reg. S, 3.25%, 04/30/2026	EUR	100		92
Goodyear Tire & Rubber Co. (The), 5.00%, 07/15/2029		1,339		1,109
5.63%, 04/30/2033		1,211		970
9.50%, 05/31/2025		105		109
Grupo Antolin-Irausa SA, (Spain), Reg. S, 3.50%, 04/30/2028	EUR	200		139
IHO Verwaltungs GmbH, (Germany), 4.75% (cash), 09/15/2026 (e) (v)		665		572
Meritor, Inc., 4.50%, 12/15/2028 (e)		71		68
Tenneco, Inc., 7.88%, 01/15/2029 (e)		75		72
Titan International, Inc., 7.00%, 04/30/2028		1,025		963
ZF Europe Finance BV, (Netherlands), Reg. S, 2.00%, 02/23/2026	EUR	400		346


				28,502

Distribution/Wholesale — 0.2%
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/2029 (e)		45		36
Avient Corp., 5.75%, 05/15/2025 (e)		2,000		1,915
H&E Equipment Services, Inc., 3.88%, 12/15/2028 (e)		5,850		4,731
IAA, Inc., 5.50%, 06/15/2027 (e)		28		26


				6,708

Entertainment — 2.3%
AMC Entertainment Holdings, Inc., 7.50%, 02/15/2029 (e)		761		643
Boyne USA, Inc., 4.75%, 05/15/2029 (e)		2,005		1,736
Caesars Entertainment, Inc., 4.63%, 10/15/2029 (e)		1,590		1,228
6.25%, 07/01/2025 (e)		8,630		8,280
8.13%, 07/01/2027 (e)		9,408		9,091
Caesars Resort Collection LLC / CRC Finco, Inc., 5.75%, 07/01/2025 (e)		2,316		2,223
CCM Merger, Inc., 6.38%, 05/01/2026 (e)		3,027		2,756
CDI Escrow Issuer, Inc., 5.75%, 04/01/2030 (e)		5,611		5,164
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op, 5.50%, 05/01/2025 (e)		1,516		1,470
6.50%, 10/01/2028		3		3
Churchill Downs, Inc., 4.75%, 01/15/2028 (e)		556		496
5.50%, 04/01/2027 (e)		120		114
Cirsa Finance International Sarl, (Luxembourg), Reg. S, 4.75%, 05/22/2025	EUR	100		92


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Entertainment — continued
CPUK Finance Ltd., (Jersey), Reg. S, 4.88%, 08/28/2025	GBP	100		113
Everi Holdings, Inc., 5.00%, 07/15/2029 (e)		200		169
Gamma Bidco SpA, (Italy), Reg. S, 6.25%, 07/15/2025	EUR	300		292
Golden Entertainment, Inc., 7.63%, 04/15/2026 (e)		1,129		1,118
International Game Technology plc, (United Kingdom), 5.25%, 01/15/2029 (e)		2,055		1,861
6.25%, 01/15/2027 (e)		800		778
Jacobs Entertainment, Inc., 6.75%, 02/15/2029 (e)		2,300		1,945
Lions Gate Capital Holdings LLC, 5.50%, 04/15/2029 (e)		3,466		2,692
Live Nation Entertainment, Inc., 3.75%, 01/15/2028 (e)		398		344
4.75%, 10/15/2027 (e)		783		701
4.88%, 11/01/2024 (e)		188		179
6.50%, 05/15/2027 (e)		4,569		4,478
Magallanes, Inc., 5.14%, 03/15/2052 (e)		4,826		4,077
5.39%, 03/15/2062 (e)		2,791		2,345
Merlin Entertainments Ltd., (United Kingdom), 5.75%, 06/15/2026 (e)		200		183
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp., 4.88%, 05/01/2029 (e)		1,446		1,178
Motion Bondco DAC, (Ireland), 6.63%, 11/15/2027 (e)		1,150		909
Peninsula Pacific Entertainment LLC / Peninsula Pacific Entertainment Finance In, 8.50%, 11/15/2027 (e)		98		103
Penn National Gaming, Inc., 4.13%, 07/01/2029 (e)		4,250		3,225
5.63%, 01/15/2027 (e)		2,064		1,811
Powdr Corp., 6.00%, 08/01/2025 (e)		1,168		1,159
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.63%, 09/01/2029 (e)		675		481
5.88%, 09/01/2031 (e)		706		490
Scientific Games Holdings LP / Scientific Games US FinCo Inc., 6.63%, 03/01/2030 (e)		1,505		1,279
Scientific Games International, Inc., 7.00%, 05/15/2028 (e)		818		773
8.63%, 07/01/2025 (e)		1,140		1,165
SeaWorld Parks & Entertainment, Inc., 8.75%, 05/01/2025 (e)		160		166
Six Flags Theme Parks, Inc., 7.00%, 07/01/2025 (e)		1,608		1,628
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 5.13%, 10/01/2029 (e)		5,626		4,402
7.75%, 04/15/2025 (e)		99		97


				73,437


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Food Service — 0.1%
Aramark Services, Inc., 5.00%, 04/01/2025 (e)		178		171
5.00%, 02/01/2028 (e)		1,634		1,481
6.38%, 05/01/2025 (e)		1,000		978


				2,630

Home Builders — 1.6%
Ashton Woods USA LLC / Ashton Woods Finance Co., 4.63%, 08/01/2029 (e)		1,133		850
4.63%, 04/01/2030 (e)		1,000		734
6.63%, 01/15/2028 (e)		1,400		1,190
Beazer Homes USA, Inc., 5.88%, 10/15/2027		5,800		4,466
6.75%, 03/15/2025		2,555		2,362
7.25%, 10/15/2029		1,350		1,070
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, (Canada), 4.88%, 02/15/2030 (e)		3,583		2,603
5.00%, 06/15/2029 (e)		811		613
6.25%, 09/15/2027 (e)		4,400		3,648
Century Communities, Inc., 3.88%, 08/15/2029 (e)		1,988		1,555
6.75%, 06/01/2027		1,100		1,049
Empire Communities Corp., (Canada), 7.00%, 12/15/2025 (e)		750		592
Forestar Group, Inc., 3.85%, 05/15/2026 (e)		2,425		1,993
5.00%, 03/01/2028 (e)		650		531
KB Home, 4.00%, 06/15/2031		550		421
4.80%, 11/15/2029		400		334
6.88%, 06/15/2027		1,298		1,246
7.25%, 07/15/2030		3,350		3,174
M/I Homes, Inc., 4.95%, 02/01/2028		2,693		2,289
Mattamy Group Corp., (Canada), 4.63%, 03/01/2030 (e)		3,580		2,616
5.25%, 12/15/2027 (e)		1,616		1,320
Meritage Homes Corp., 5.13%, 06/06/2027		2,000		1,830
6.00%, 06/01/2025		800		780
Shea Homes LP / Shea Homes Funding Corp., 4.75%, 02/15/2028 (e)		3,225		2,591
4.75%, 04/01/2029 (e)		450		353
STL Holding Co. LLC, 7.50%, 02/15/2026 (e)		1,915		1,666
Taylor Morrison Communities, Inc., 5.13%, 08/01/2030 (e)		3,171		2,633
5.88%, 06/15/2027 (e)		3,236		2,983
Tri Pointe Homes, Inc., 5.25%, 06/01/2027		1,300		1,136
5.70%, 06/15/2028		2,201		1,900


				50,528

Home Furnishings — 0.0% (g)
Nobel Bidco BV, (Netherlands), Reg. S, 3.13%, 06/15/2028	EUR	300		211


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Home Furnishings — continued
Tempur Sealy International, Inc., 3.88%, 10/15/2031 (e)		493		370
4.00%, 04/15/2029 (e)		101		81


				662

Housewares — 0.3%
CD&R Smokey Buyer, Inc., 6.75%, 07/15/2025 (e)		1,640		1,450
Newell Brands, Inc., 4.45%, 04/01/2026		175		166
4.88%, 06/01/2025		175		173
Scotts Miracle-Gro Co. (The), 4.00%, 04/01/2031		3,273		2,446
SWF Escrow Issuer Corp., 6.50%, 10/01/2029 (e)		6,156		4,140


				8,375

Leisure Time — 0.6%
Carnival Corp., (Panama), 4.00%, 08/01/2028 (e)		2,996		2,457
5.75%, 03/01/2027 (e)		3,782		2,746
6.00%, 05/01/2029 (e)		1,932		1,350
7.63%, 03/01/2026 (e)		436		337
9.88%, 08/01/2027 (e)		1,525		1,477
Reg. S, 10.13%, 02/01/2026	EUR	400		414
10.50%, 02/01/2026 (e)		3,752		3,745
Life Time, Inc., 5.75%, 01/15/2026 (e)		1,310		1,175
8.00%, 04/15/2026 (e)		173		154
Lindblad Expeditions LLC, 6.75%, 02/15/2027 (e)		324		278
MajorDrive Holdings IV LLC, 6.38%, 06/01/2029 (e)		74		51
NCL Corp. Ltd., (Bermuda), 5.88%, 03/15/2026 (e)		1,661		1,299
7.75%, 02/15/2029 (e)		112		86
NCL Finance Ltd., (Bermuda), 6.13%, 03/15/2028 (e)		87		63
Royal Caribbean Cruises Ltd., (Liberia), 5.38%, 07/15/2027 (e)		2,303		1,645
5.50%, 08/31/2026 (e)		308		228
5.50%, 04/01/2028 (e)		111		77
11.50%, 06/01/2025 (e)		2,112		2,170
Viking Cruises Ltd., (Bermuda), 5.88%, 09/15/2027 (e)		200		150
6.25%, 05/15/2025 (e)		500		421
Viking Ocean Cruises Ship VII Ltd., (Bermuda), 5.63%, 02/15/2029 (e)		194		153
Vista Outdoor, Inc., 4.50%, 03/15/2029 (e)		50		38


				20,514

Lodging — 3.2%
Accor SA, (France), Reg. S, (EUR Swap Rate 5 Year + 4.56%), 4.38%, 01/30/2024 (x) (aa)	EUR	300		273


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Lodging — continued
Boyd Gaming Corp., 4.75%, 12/01/2027		191		173
4.75%, 06/15/2031 (e)		2,597		2,195
Champion Path Holdings Ltd., (British Virgin Islands),
Reg. S, 4.50%, 01/27/2026		5,100		3,213
Reg. S, 4.85%, 01/27/2028		2,500		1,451
Fortune Star BVI Ltd., (British Virgin Islands),
Reg. S, 5.00%, 05/18/2026		2,900		1,740
Reg. S, 5.95%, 10/19/2025		13,000		8,076
Reg. S, 6.75%, 07/02/2023		1,200		949
Reg. S, 6.85%, 07/02/2024		3,000		2,162
Hilton Domestic Operating Co., Inc., 3.63%, 02/15/2032 (e)		3,165		2,516
3.75%, 05/01/2029 (e)		382		324
4.00%, 05/01/2031 (e)		2,116		1,759
4.88%, 01/15/2030		2,459		2,222
5.75%, 05/01/2028 (e)		443		423
Hyatt Hotels Corp., 1.30%, 10/01/2023		440		426
Melco Resorts Finance Ltd., (Cayman Islands),
Reg. S, 4.88%, 06/06/2025		4,200		3,147
Reg. S, 5.75%, 07/21/2028		18,000		11,520
MGM China Holdings Ltd., (Cayman Islands), 5.25%, 06/18/2025 (e)		2,000		1,538
5.38%, 05/15/2024 (e)		1,900		1,619
Reg. S, 5.88%, 05/15/2026		1,500		1,137
MGM Resorts International, 4.63%, 09/01/2026		750		661
4.75%, 10/15/2028		7,001		5,887
5.50%, 04/15/2027		650		583
5.75%, 06/15/2025		1,398		1,332
6.75%, 05/01/2025		3,250		3,189
Sands China Ltd., (Cayman Islands),
Reg. S, 2.55%, 03/08/2027		2,100		1,529
3.80%, 01/08/2026		13,800		11,055
4.88%, 06/18/2030		1,000		726
5.13%, 08/08/2025		1,000		842
5.40%, 08/08/2028		7,300		5,621
Station Casinos LLC, 4.50%, 02/15/2028 (e)		1,746		1,475
4.63%, 12/01/2031 (e)		588		458
Studio City Finance Ltd., (British Virgin Islands), Reg. S, 6.00%, 07/15/2025		11,640		7,371
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp., 5.88%, 05/15/2025 (e)		3,950		3,633
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 4.25%, 05/30/2023 (e)		165		158
Wynn Macau Ltd., (Cayman Islands), 4.88%, 10/01/2024 (e)		500		372
Reg. S, 4.88%, 10/01/2024		2,000		1,487
Reg. S, 5.50%, 01/15/2026		16,650		11,509
5.50%, 10/01/2027 (e)		1,330		861


				105,612


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Retail — 2.2%
1011778 BC ULC / New Red Finance, Inc., (Canada), 3.50%, 02/15/2029 (e)		1,500		1,270
3.88%, 01/15/2028 (e)		225		196
4.00%, 10/15/2030 (e)		5,054		4,104
4.38%, 01/15/2028 (e)		3,152		2,756
5.75%, 04/15/2025 (e)		77		77
Arko Corp., 5.13%, 11/15/2029 (e)		70		53
Asbury Automotive Group, Inc., 4.75%, 03/01/2030		3		2
5.00%, 02/15/2032 (e)		1,359		1,111
At Home Group, Inc., 4.88%, 07/15/2028 (e)		300		218
7.13%, 07/15/2029 (e)		1,475		837
Bath & Body Works, Inc., 6.63%, 10/01/2030 (e)		3		3
6.88%, 11/01/2035		9		7
BCPE Ulysses Intermediate, Inc., 7.75% (cash), 04/01/2027 (e) (v)		125		77
Brinker International, Inc., 5.00%, 10/01/2024 (e)		1,300		1,218
Burger King France SAS, (France), Reg. S, (ICE LIBOR EUR 3 Month + 4.75%), 4.75%, 11/01/2026 (aa)	EUR	400		387
Carrols Restaurant Group, Inc., 5.88%, 07/01/2029 (e)		925		675
Carvana Co., 4.88%, 09/01/2029 (e)		79		45
5.50%, 04/15/2027 (e)		513		330
10.25%, 05/01/2030 (e)		200		161
Constellation Automotive Financing plc, (United Kingdom), Reg. S, 4.88%, 07/15/2027	GBP	200		191
Dufry One BV, (Netherlands), Reg. S, 2.50%, 10/15/2024	EUR	400		379
eG Global Finance plc, (United Kingdom),
Reg. S, 4.38%, 02/07/2025	EUR	922		860
Reg. S, 6.25%, 10/30/2025	EUR	1,936		1,818
6.75%, 02/07/2025 (e)		4,425		4,172
8.50%, 10/30/2025 (e)		1,765		1,710
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 4.63%, 01/15/2029 (e)		2,086		1,778
6.75%, 01/15/2030 (e)		3,652		2,791
Food Service Project SA, (Spain), Reg. S, 5.50%, 01/21/2027	EUR	309		278
Foundation Building Materials, Inc., 6.00%, 03/01/2029 (e)		1,888		1,383
Gap, Inc. (The), 3.63%, 10/01/2029 (e)		2,000		1,404
3.88%, 10/01/2031 (e)		2,980		2,079
Goldstory SASU, (France), Reg. S, 5.38%, 03/01/2026	EUR	300		265
GYP Holdings III Corp., 4.63%, 05/01/2029 (e)		1,083		844
Jollibee Worldwide Pte Ltd., (Singapore), Reg. S, 4.13%, 01/24/2026		4,200		4,097


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Retail — continued
Ken Garff Automotive LLC, 4.88%, 09/15/2028 (e)		3		2
LBM Acquisition LLC, 6.25%, 01/15/2029 (e)		2,706		1,742
LCM Investments Holdings II LLC, 4.88%, 05/01/2029 (e)		1,699		1,293
Lithia Motors, Inc., 3.88%, 06/01/2029 (e)		13		11
NMG Holding Co., Inc. / Neiman Marcus Group LLC, 7.13%, 04/01/2026 (e)		181		167
Park River Holdings, Inc., 5.63%, 02/01/2029 (e)		3,875		2,415
Patrick Industries, Inc.,		60		55
4.75%, 05/01/2029 (e)		2,325		1,730
7.50%, 10/15/2027 (e)		60		55
Penske Automotive Group, Inc., 3.75%, 06/15/2029 (e)		252		210
PetSmart, Inc. / PetSmart Finance Corp., 4.75%, 02/15/2028 (e)		250		216
7.75%, 02/15/2029 (e)		3,330		3,005
Sally Holdings LLC / Sally Capital, Inc., 5.63%, 12/01/2025		3,250		3,051
SRS Distribution, Inc., 4.63%, 07/01/2028 (e)		2,669		2,336
6.00%, 12/01/2029 (e)		5,094		4,000
6.13%, 07/01/2029 (e)		788		621
Staples, Inc., 7.50%, 04/15/2026 (e)		597		503
Stonegate Pub Co. Financing 2019 plc, (United Kingdom), Reg. S, 8.25%, 07/31/2025	GBP	200		222
Suburban Propane Partners LP / Suburban Energy Finance Corp., 5.00%, 06/01/2031 (e)		1,850		1,552
5.88%, 03/01/2027		2,075		1,957
Superior Plus LP / Superior General Partner, Inc., (Canada), 4.50%, 03/15/2029 (e)		4,075		3,464
Tendam Brands SAU, (Spain),
Reg. S, 5.00%, 09/15/2024	EUR	100		100
Reg. S, (ICE LIBOR EUR 3 Month + 5.25%), 5.25%, 09/15/2024 (aa)	EUR	200		200
White Cap Buyer LLC, 6.88%, 10/15/2028 (e)		4,608		3,686
White Cap Parent LLC, 8.25% (cash), 03/15/2026 (e) (v)		586		488


				70,602

Toys/Games/Hobbies — 0.1%
Mattel, Inc., 3.38%, 04/01/2026 (e)		218		200
3.75%, 04/01/2029 (e)		382		343
5.45%, 11/01/2041		2,701		2,384
5.88%, 12/15/2027 (e)		401		390


				3,317

Total Consumer Cyclical				466,717


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Consumer Non-cyclical — 10.1%
Agriculture — 0.2%
BAT Capital Corp., 3.22%, 08/15/2024		86		84
BAT International Finance plc, (United Kingdom), 3.95%, 06/15/2025 (e)		358		351
Darling Ingredients, Inc., 6.00%, 06/15/2030 (e)		1,627		1,623
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e)		643		623
Tereos Finance Groupe I SA, (France), Reg. S, 7.50%, 10/30/2025	EUR	100		103
Vector Group Ltd., 5.75%, 02/01/2029 (e)		2,975		2,477
Viterra Finance BV, (Netherlands), 2.00%, 04/21/2026 (e)		700		620


				5,881

Biotechnology — 0.0% (g)
Cidron Aida Finco Sarl, (Luxembourg), Reg. S, 5.00%, 04/01/2028	EUR	200		174

Commercial Services — 3.1%
Adani Ports & Special Economic Zone Ltd., (India), 3.38%, 07/24/2024 (e)		200		195
ADT Security Corp. (The), 4.88%, 07/15/2032 (e)		133		106
Adtalem Global Education, Inc., 5.50%, 03/01/2028 (e)		670		598
Albion Financing 1 Sarl / Aggreko Holdings, Inc., (Luxembourg), 6.13%, 10/15/2026 (e)		200		171
Allied Universal Holdco LLC / Allied Universal Finance Corp., 6.00%, 06/01/2029 (e)		3,516		2,560
6.63%, 07/15/2026 (e)		5,523		5,055
9.75%, 07/15/2027 (e)		5,610		4,748
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 Sarl, (Multinational), 4.63%, 06/01/2028 (e)		4,314		3,533
Alta Equipment Group, Inc., 5.63%, 04/15/2026 (e)		900		769
AMN Healthcare, Inc., 4.00%, 04/15/2029 (e)		900		760
4.63%, 10/01/2027 (e)		3,149		2,887
APi Escrow Corp., 4.75%, 10/15/2029 (e)		450		361
APi Group DE, Inc., 4.13%, 07/15/2029 (e)		422		335
APX Group, Inc., 5.75%, 07/15/2029 (e)		2,131		1,648
6.75%, 02/15/2027 (e)		154		144
Ashtead Capital, Inc., 4.38%, 08/15/2027 (e)		227		211
Autostrade per l’Italia SpA, (Italy),
Reg. S, 1.88%, 11/04/2025	EUR	100		97
Reg. S, 2.00%, 01/15/2030	EUR	400		328
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 4.75%, 04/01/2028 (e)		3,300		2,738
Avis Budget Finance Plc, (Jersey), Reg. S, 4.75%, 01/30/2026	EUR	300		283


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Commercial Services — continued
BCP V Modular Services Finance II plc, (United Kingdom),
Reg. S, 4.75%, 11/30/2028	EUR	200		166
Reg. S, 6.13%, 11/30/2028	GBP	100		95
Block, Inc., 3.50%, 06/01/2031 (e)		5,177		4,125
Brink’s Co. (The), 4.63%, 10/15/2027 (e)		300		267
5.50%, 07/15/2025 (e)		1,450		1,395
Carriage Services, Inc., 4.25%, 05/15/2029 (e)		1,200		976
CoreLogic, Inc., 4.50%, 05/01/2028 (e)		2,026		1,560
EC Finance plc, (United Kingdom), Reg. S, 3.00%, 10/15/2026	EUR	182		166
eHi Car Services Ltd., (Cayman Islands), Reg. S, 7.00%, 09/21/2026		2,600		1,498
Garda World Security Corp., (Canada), 4.63%, 02/15/2027 (e)		27		23
Gartner, Inc., 3.63%, 06/15/2029 (e)		339		294
3.75%, 10/01/2030 (e)		261		225
4.50%, 07/01/2028 (e)		1,849		1,698
HealthEquity, Inc., 4.50%, 10/01/2029 (e)		4,131		3,615
Herc Holdings, Inc., 5.50%, 07/15/2027 (e)		4,333		3,958
Hertz Corp. (The), 4.63%, 12/01/2026 (e)		632		528
5.00%, 12/01/2029 (e)		775		600
India Toll Roads, (Mauritius), Reg. S, 5.50%, 08/19/2024		6,500		6,123
La Financiere Atalian SASU, (France), Reg. S, 4.00%, 05/15/2024	EUR	300		242
Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc., 5.00%, 02/01/2026 (e)		41		34
Loxam SAS, (France), Reg. S, 3.25%, 01/14/2025	EUR	400		377
Metis Merger Sub LLC, 6.50%, 05/15/2029 (e)		4,832		3,840
MPH Acquisition Holdings LLC, 5.50%, 09/01/2028 (e)		2,048		1,823
NESCO Holdings II, Inc., 5.50%, 04/15/2029 (e)		2,972		2,489
Nielsen Finance LLC / Nielsen Finance Co., 5.63%, 10/01/2028 (e)		1,402		1,302
5.88%, 10/01/2030 (e)		201		185
PECF USS Intermediate Holding III Corp., 8.00%, 11/15/2029 (e)		3		2
Prime Security Services Borrower LLC / Prime Finance, Inc., 6.25%, 01/15/2028 (e)		2,528		2,111
Rekeep SpA, (Italy), Reg. S, 7.25%, 02/01/2026	EUR	400		361
Royal Capital BV, (Netherlands), Reg. S, (CMT Index 5 Year + 7.40%), 5.00%, 02/05/2026 (x) (aa)		7,600		7,439
Sabre GLBL, Inc., 7.38%, 09/01/2025 (e)		641		598
9.25%, 04/15/2025 (e)		855		824


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Commercial Services — continued
Service Corp. International, 3.38%, 08/15/2030		1,170		958
4.00%, 05/15/2031		2,901		2,477
Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/2026 (e)		2,611		2,311
Sotheby’s, 7.38%, 10/15/2027 (e)		4,197		3,889
Sotheby’s / Bidfair Holdings, Inc., 5.88%, 06/01/2029 (e)		299		257
Techem Verwaltungsgesellschaft 674 mbH, (Germany), Reg. S, 6.00%, 07/30/2026	EUR	176		156
Triton Container International Ltd., (Bermuda), 0.80%, 08/01/2023 (e)		400		379
1.15%, 06/07/2024 (e)		223		209
United Rentals North America, Inc., 3.75%, 01/15/2032		2,700		2,218
3.88%, 02/15/2031		2,375		2,003
4.88%, 01/15/2028		2,075		1,955
5.25%, 01/15/2030		1,425		1,322
Verisure Holding AB, (Sweden), Reg. S, 3.50%, 05/15/2023	EUR	400		407
Verscend Escrow Corp., 9.75%, 08/15/2026 (e)		6,227		6,056
Williams Scotsman International, Inc., 4.63%, 08/15/2028 (e)		887		756


				101,819

Cosmetics/Personal Care — 0.0% (g)
Coty, Inc., Reg. S, 3.88%, 04/15/2026	EUR	300		277

Food — 2.0%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.25%, 03/15/2026 (e)		80		70
3.50%, 03/15/2029 (e)		3,350		2,711
4.88%, 02/15/2030 (e)		213		183
5.88%, 02/15/2028 (e)		2,195		2,051
B&G Foods, Inc., 5.25%, 04/01/2025		4,250		3,908
5.25%, 09/15/2027		1,871		1,618
Bellis Acquisition Co. plc, (United Kingdom), Reg. S, 3.25%, 02/16/2026	GBP	400		377
C&S Group Enterprises LLC, 5.00%, 12/15/2028 (e)		675		502
China Modern Dairy Holdings Ltd., (Cayman Islands), Reg. S, 2.13%, 07/14/2026		1,800		1,562
Chobani LLC / Chobani Finance Corp., Inc., 4.63%, 11/15/2028 (e)		2,657		2,245
7.50%, 04/15/2025 (e)		4,899		4,499
Iceland Bondco plc, (United Kingdom), Reg. S, 4.63%, 03/15/2025	GBP	300		282
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., (Multinational), 3.75%, 12/01/2031 (e)		182		149
6.50%, 04/15/2029 (e)		402		405


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Food — continued
JGSH Philippines Ltd., (British Virgin Islands), Reg. S, 4.13%, 07/09/2030		7,600		6,973
Kraft Heinz Foods Co., 4.88%, 10/01/2049		3,843		3,414
5.20%, 07/15/2045		3,550		3,301
5.50%, 06/01/2050		767		741
6.88%, 01/26/2039		2,000		2,206
7.13%, 08/01/2039 (e)		500		562
Lamb Weston Holdings, Inc., 4.13%, 01/31/2030 (e)		4,731		4,095
4.38%, 01/31/2032 (e)		4,554		3,962
4.88%, 05/15/2028 (e)		72		68
Market Bidco Finco plc, (United Kingdom),
Reg. S, 5.50%, 11/04/2027	GBP	100		93
5.50%, 11/04/2027 (e)	GBP	250		231
Ocado Group plc, (United Kingdom), Reg. S, 3.88%, 10/08/2026	GBP	200		195
Performance Food Group, Inc., 4.25%, 08/01/2029 (e)		553		461
5.50%, 10/15/2027 (e)		1,694		1,568
Picard Groupe SAS, (France), Reg. S, 3.88%, 07/01/2026	EUR	200		171
Pilgrim’s Pride Corp., 3.50%, 03/01/2032 (e)		157		123
4.25%, 04/15/2031 (e)		8,148		6,786
Post Holdings, Inc., 4.50%, 09/15/2031 (e)		1,666		1,363
4.63%, 04/15/2030 (e)		2,780		2,346
5.50%, 12/15/2029 (e)		1,000		894
5.63%, 01/15/2028 (e)		860		816
Premier Foods Finance plc, (United Kingdom), Reg. S, 3.50%, 10/15/2026	GBP	200		211
Quatrim SASU, (France), Reg. S, 5.88%, 01/15/2024	EUR	100		99
Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 4.63%, 03/01/2029 (e)		930		782
US Foods, Inc., 4.75%, 02/15/2029 (e)		1,409		1,232
6.25%, 04/15/2025 (e)		1,848		1,843


				65,098

Healthcare — Products — 0.6%
Avantor Funding, Inc., 3.88%, 11/01/2029 (e)		693		606
4.63%, 07/15/2028 (e)		4,267		3,912
Medline Borrower LP, 3.88%, 04/01/2029 (e)		6,297		5,369
5.25%, 10/01/2029 (e)		9,150		7,569
Teleflex, Inc., 4.25%, 06/01/2028 (e)		1,000		905


				18,361

Healthcare — Services — 2.6%
Acadia Healthcare Co., Inc., 5.00%, 04/15/2029 (e)		15		14


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Healthcare — Services — continued
AHP Health Partners, Inc., 5.75%, 07/15/2029 (e)		255		187
CAB SELAS, (France), Reg. S, 3.38%, 02/01/2028	EUR	400		336
Catalent Pharma Solutions, Inc., 3.13%, 02/15/2029 (e)		431		353
3.50%, 04/01/2030 (e)		2,456		2,004
Centene Corp., 2.45%, 07/15/2028		2,460		2,053
2.50%, 03/01/2031		2,789		2,214
2.63%, 08/01/2031		1,917		1,525
3.00%, 10/15/2030		8,254		6,840
4.25%, 12/15/2027		188		175
Charles River Laboratories International, Inc., 4.00%, 03/15/2031 (e)		116		99
4.25%, 05/01/2028 (e)		1,916		1,721
Chrome Bidco SASU, (France), Reg. S, 3.50%, 05/31/2028	EUR	300		257
CHS / Community Health Systems, Inc., 5.25%, 05/15/2030 (e)		775		589
5.63%, 03/15/2027 (e)		792		670
6.00%, 01/15/2029 (e)		2,451		2,008
6.13%, 04/01/2030 (e)		488		298
8.00%, 03/15/2026 (e)		3,279		2,965
DaVita, Inc., 3.75%, 02/15/2031 (e)		9,130		6,458
4.63%, 06/01/2030 (e)		1,000		780
Encompass Health Corp., 4.50%, 02/01/2028		170		145
4.63%, 04/01/2031		1,345		1,089
4.75%, 02/01/2030		1,800		1,505
HCA, Inc., 4.63%, 03/15/2052 (e)		1,107		891
5.25%, 04/15/2025		800		802
7.05%, 12/01/2027		950		990
7.50%, 11/06/2033		2,900		3,275
IQVIA, Inc., 5.00%, 10/15/2026 (e)		397		378
Korian SA, (France), Reg. S, (UK Gilts 5 Year + 9.08%), 4.13%, 03/15/2024 (x) (aa)	GBP	300		287
Legacy LifePoint Health LLC, 4.38%, 02/15/2027 (e)		40		34
6.75%, 04/15/2025 (e)		603		581
LifePoint Health, Inc., 5.38%, 01/15/2029 (e)		3,800		2,819
Molina Healthcare, Inc., 3.88%, 11/15/2030 (e)		334		286
3.88%, 05/15/2032 (e)		2,377		1,991
Prime Healthcare Services, Inc., 7.25%, 11/01/2025 (e)		3,767		3,215
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 9.75%, 12/01/2026 (e)		4,183		4,099
Surgery Center Holdings, Inc.,
6.75%, 07/01/2025 (e)		1,551		1,421
10.00%, 04/15/2027 (e)		3,290		3,187


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Healthcare — Services — continued
Syneos Health, Inc., 3.63%, 01/15/2029 (e)		4,495		3,806
Tenet Healthcare Corp., 4.25%, 06/01/2029 (e)		3,107		2,624
4.38%, 01/15/2030 (e)		6,730		5,694
4.88%, 01/01/2026 (e)		6,879		6,329
5.13%, 11/01/2027 (e)		2,693		2,424
6.13%, 10/01/2028 (e)		2,940		2,543
6.13%, 06/15/2030 (e)		2,402		2,264
6.25%, 02/01/2027 (e)		331		304


				84,529

Household Products/Wares — 0.1%
ACCO Brands Corp., 4.25%, 03/15/2029 (e)		2,315		1,897
Central Garden & Pet Co., 4.13%, 10/15/2030		101		82
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., 7.00%, 12/31/2027 (e)		1,525		1,129
Spectrum Brands, Inc., 3.88%, 03/15/2031 (e)		1,163		937


				4,045

Pharmaceuticals — 1.5%
180 Medical, Inc., 3.88%, 10/15/2029 (e)		200		173
AdaptHealth LLC, 4.63%, 08/01/2029 (e)		3,150		2,591
5.13%, 03/01/2030 (e)		101		85
6.13%, 08/01/2028 (e)		1,265		1,119
Bausch Health Americas, Inc., 8.50%, 01/31/2027 (e)		3,100		2,174
Bausch Health Cos., Inc., (Canada), 5.00%, 01/30/2028 (e)		4,000		2,130
5.00%, 02/15/2029 (e)		700		362
5.25%, 01/30/2030 (e)		5,510		2,845
5.25%, 02/15/2031 (e)		2,370		1,216
6.13%, 02/01/2027 (e)		69		59
6.25%, 02/15/2029 (e)		4,205		2,255
7.00%, 01/15/2028 (e)		900		515
7.25%, 05/30/2029 (e)		3,250		1,763
9.00%, 12/15/2025 (e)		444		322
Bayer US Finance II LLC, 3.88%, 12/15/2023 (e)		554		553
4.25%, 12/15/2025 (e)		550		544
Cheplapharm Arzneimittel GmbH, (Germany),
Reg. S, 4.38%, 01/15/2028	EUR	400		356
5.50%, 01/15/2028 (e)		1,519		1,269
Embecta Corp., 5.00%, 02/15/2030 (e)		1,275		1,070
6.75%, 02/15/2030 (e)		1,418		1,277
Gruenenthal GmbH, (Germany),
Reg. S, 3.63%, 11/15/2026	EUR	400		378
Reg. S, 4.13%, 05/15/2028	EUR	100		90
Health & Happiness H&H International Holdings Ltd., (Cayman Islands), Reg. S, 5.63%, 10/24/2024		9,800		8,531


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Pharmaceuticals — continued
Jazz Securities DAC, (Ireland), 4.38%, 01/15/2029 (e)		3,539		3,140
Nidda Healthcare Holding GmbH, (Germany), Reg. S, 3.50%, 09/30/2024	EUR	200		185
Option Care Health, Inc., 4.38%, 10/31/2029 (e)		215		184
Organon & Co. / Organon Foreign Debt Co-Issuer BV,
Reg. S, 2.88%, 04/30/2028	EUR	200		175
4.13%, 04/30/2028 (e)		3,701		3,260
5.13%, 04/30/2031 (e)		6,385		5,547
Owens & Minor, Inc., 6.63%, 04/01/2030 (e)		164		149
P&L Development LLC / PLD Finance Corp., 7.75%, 11/15/2025 (e)		3,046		2,132
PRA Health Sciences, Inc., 2.88%, 07/15/2026 (e)		1,338		1,191
Teva Pharmaceutical Finance Netherlands II BV, (Netherlands),
Reg. S, 1.25%, 03/31/2023	EUR	300		307
4.50%, 03/01/2025	EUR	200		195


				48,142

Total Consumer Non-cyclical				328,326

Energy — 9.8%
Coal — 0.5%
Adaro Indonesia PT, (Indonesia), Reg. S, 4.25%, 10/31/2024		6,850		6,439
Coronado Finance Pty Ltd., (Australia), 10.75%, 05/15/2026 (e)		812		843
Indika Energy Capital IV Pte Ltd., (Singapore), Reg. S, 8.25%, 10/22/2025		7,900		7,627

				14,909

Energy — Alternate Sources — 1.2%
Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energ, (India), Reg. S, 6.25%, 12/10/2024		500		477
Enviva Partners LP / Enviva Partners Finance Corp., 6.50%, 01/15/2026 (e)		169		163
Greenko Dutch BV, (Netherlands), Reg. S, 3.85%, 03/29/2026		6,887		5,837
Greenko Solar Mauritius Ltd., (Mauritius), Reg. S, 5.55%, 01/29/2025		5,850		5,473
Greenko Wind Projects Mauritius Ltd., (Mauritius), 5.50%, 04/06/2025 (e)		12,700		11,627
India Green Energy Holdings, (Mauritius), Reg. S, 5.38%, 04/29/2024		7,800		7,298
India Green Power Holdings, (Mauritius), Reg. S, 4.00%, 02/22/2027		6,500		5,062
ReNew Power Pvt Ltd., (India), Reg. S, 5.88%, 03/05/2027		2,500		2,276
SK Battery America, Inc., Reg. S, 2.13%, 01/26/2026		1,400		1,264


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Energy — Alternate Sources — continued
TerraForm Power Operating LLC, 4.75%, 01/15/2030 (e)		648		547

				40,024

Oil & Gas — 5.0%
Aethon United BR LP / Aethon United Finance Corp., 8.25%, 02/15/2026 (e)		3,053		2,969
Antero Resources Corp., 5.38%, 03/01/2030 (e)		3,425		3,123
7.63%, 02/01/2029 (e)		950		966
8.38%, 07/15/2026 (e)		1,229		1,300
Apache Corp., 4.75%, 04/15/2043		250		195
5.10%, 09/01/2040		3,238		2,734
5.25%, 02/01/2042		53		44
5.35%, 07/01/2049		695		550
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.88%, 06/30/2029 (e)		3,537		3,113
7.00%, 11/01/2026 (e)		4,150		3,859
8.25%, 12/31/2028 (e)		3,610		3,440
9.00%, 11/01/2027 (e)		785		985
Athabasca Oil Corp., (Canada), 9.75%, 11/01/2026 (e)		3,120		3,260
Callon Petroleum Co., 6.13%, 10/01/2024		1,427		1,449
6.38%, 07/01/2026		695		641
7.50%, 06/15/2030 (e)		2,386		2,203
8.00%, 08/01/2028 (e)		4,934		4,740
9.00%, 04/01/2025 (e)		598		634
Cenovus Energy, Inc., (Canada), 5.38%, 07/15/2025		205		211
Centennial Resource Production LLC, 6.88%, 04/01/2027 (e)		1,533		1,456
Chesapeake Energy Corp., 5.50%, 02/01/2026 (e)		500		475
5.88%, 02/01/2029 (e)		635		599
6.75%, 04/15/2029 (e)		3,544		3,427
CITGO Petroleum Corp., 6.38%, 06/15/2026 (e)		1,880		1,736
7.00%, 06/15/2025 (e)		179		173
CNX Resources Corp., 6.00%, 01/15/2029 (e)		17		16
7.25%, 03/14/2027 (e)		3,144		3,080
Colgate Energy Partners III LLC, 5.88%, 07/01/2029 (e)		2,586		2,266
7.75%, 02/15/2026 (e)		422		401
Comstock Resources, Inc., 5.88%, 01/15/2030 (e)		5,543		4,767
6.75%, 03/01/2029 (e)		2,375		2,127
Continental Resources, Inc., 2.27%, 11/15/2026 (e)		512		454
3.80%, 06/01/2024		450		444
Coterra Energy, Inc., 4.38%, 06/01/2024 (e)		160		160


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Oil & Gas — continued
Crescent Energy Finance LLC, 7.25%, 05/01/2026 (e)		4,846		4,410
CrownRock LP / CrownRock Finance, Inc., 5.00%, 05/01/2029 (e)		900		807
5.63%, 10/15/2025 (e)		4,703		4,421
Devon Energy Corp.,
5.25%, 09/15/2024		500		511
5.25%, 10/15/2027		415		420
Diamondback Energy, Inc., 4.25%, 03/15/2052		176		147
Earthstone Energy Holdings LLC, 8.00%, 04/15/2027 (e)		1,451		1,373
Endeavor Energy Resources LP / EER Finance, Inc., 5.75%, 01/30/2028 (e)		1,833		1,737
6.63%, 07/15/2025 (e)		1,909		1,918
EQT Corp., 3.90%, 10/01/2027		476		443
6.63%, 02/01/2025		342		352
Gulfport Energy Corp., 8.00%, 05/17/2026 (e)		69		68
Harbour Energy plc, (United Kingdom), 5.50%, 10/15/2026 (e)		264		237
Hilcorp Energy I LP / Hilcorp Finance Co., 6.00%, 04/15/2030 (e)		350		305
6.00%, 02/01/2031 (e)		6,088		5,259
6.25%, 11/01/2028 (e)		38		35
6.25%, 04/15/2032 (e)		450		389
Laredo Petroleum, Inc., 9.50%, 01/15/2025		226		224
Lundin Energy Finance BV, (Netherlands), 2.00%, 07/15/2026 (e)		914		817
Matador Resources Co., 5.88%, 09/15/2026		3,779		3,633
Medco Oak Tree Pte Ltd., (Singapore), Reg. S, 7.38%, 05/14/2026		16,800		15,296
MEG Energy Corp., (Canada), 5.88%, 02/01/2029 (e)		2,900		2,649
7.13%, 02/01/2027 (e)		1,175		1,177
Murphy Oil Corp., 6.88%, 08/15/2024		66		66
Nabors Industries Ltd., (Bermuda), 7.25%, 01/15/2026 (e)		415		368
7.50%, 01/15/2028 (e)		4,832		4,155
Nabors Industries, Inc., 5.75%, 02/01/2025		200		178
7.38%, 05/15/2027 (e)		2,844		2,702
Neptune Energy Bondco plc, (United Kingdom), Reg. S, 6.63%, 05/15/2025		200		192
Northern Oil and Gas, Inc., 8.13%, 03/01/2028 (e)		4,750		4,477
Oasis Petroleum, Inc., 6.38%, 06/01/2026 (e)		125		116
Occidental Petroleum Corp., 2.70%, 02/15/2023		72		71
4.30%, 08/15/2039		132		107
4.40%, 04/15/2046		2,293		1,854
4.40%, 08/15/2049		86		69
4.50%, 07/15/2044		777		616


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Oil & Gas — continued
4.63%, 06/15/2045		1,401		1,147
5.50%, 12/01/2025		280		276
5.55%, 03/15/2026		162		161
5.88%, 09/01/2025		416		414
6.13%, 01/01/2031		272		276
6.20%, 03/15/2040		1,042		1,026
6.38%, 09/01/2028		2,795		2,830
6.45%, 09/15/2036		274		281
6.60%, 03/15/2046		98		104
6.63%, 09/01/2030		2,973		3,062
6.95%, 07/01/2024		421		433
7.15%, 05/15/2028		675		702
7.50%, 05/01/2031		1,503		1,616
7.88%, 09/15/2031		500		549
8.00%, 07/15/2025		128		135
8.88%, 07/15/2030		2,081		2,389
Parkland Corp., (Canada), 4.50%, 10/01/2029 (e)		2,925		2,372
4.63%, 05/01/2030 (e)		500		406
5.88%, 07/15/2027 (e)		1,116		1,013
Parsley Energy LLC / Parsley Finance Corp., 5.63%, 10/15/2027 (e)		223		220
PDC Energy, Inc., 5.75%, 05/15/2026		85		79
6.13%, 09/15/2024		240		239
Petroleos Mexicanos, (Mexico), 6.88%, 08/04/2026		253		228
Precision Drilling Corp., (Canada), 6.88%, 01/15/2029 (e)		600		537
Range Resources Corp., 4.75%, 02/15/2030 (e)		900		807
4.88%, 05/15/2025		1,251		1,220
5.00%, 03/15/2023		1,802		1,789
Repsol International Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.41%), 4.25%, 09/11/2028 (x) (aa)		EUR100		89
Rockcliff Energy II LLC, 5.50%, 10/15/2029 (e)		2,469		2,247
SM Energy Co., 5.63%, 06/01/2025		400		378
6.50%, 07/15/2028		1,441		1,325
6.63%, 01/15/2027		40		37
6.75%, 09/15/2026		1,210		1,142
Southwestern Energy Co., 4.75%, 02/01/2032		1,310		1,117
5.38%, 02/01/2029		1,101		1,021
5.38%, 03/15/2030		4,825		4,451
5.95%, 01/23/2025		3		3
Suncor Energy, Inc., (Canada), 7.88%, 06/15/2026		145		162
Sunoco LP / Sunoco Finance Corp., 4.50%, 05/15/2029		1,500		1,237
4.50%, 04/30/2030 (e)		1,275		1,029
5.88%, 03/15/2028		1,120		1,021


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Oil & Gas — continued
Tap Rock Resources LLC, 7.00%, 10/01/2026 (e)		3,820		3,607
Tengizchevroil Finance Co. International Ltd., (Bermuda), 2.63%, 08/15/2025 (e)		200		170
Transocean, Inc., (Cayman Islands), 7.25%, 11/01/2025 (e)		225		167
11.50%, 01/30/2027 (e)		400		375
UGI International LLC, Reg. S, 2.50%, 12/01/2029	EUR	200		157
Valero Energy Corp., 2.85%, 04/15/2025		40		39
Vermilion Energy, Inc., (Canada), 6.88%, 05/01/2030 (e)		197		176


				163,857

Oil & Gas Services — 0.3%
Archrock Partners LP / Archrock Partners Finance Corp., 6.25%, 04/01/2028 (e)		3,012		2,666
6.88%, 04/01/2027 (e)		2,184		1,991
Oceaneering International, Inc., 4.65%, 11/15/2024		257		238
Saipem Finance International BV, (Netherlands), Reg. S, 2.63%, 01/07/2025	EUR	100		87
USA Compression Partners LP / USA Compression Finance Corp., 6.88%, 04/01/2026		1,643		1,494
6.88%, 09/01/2027		1,987		1,764
Weatherford International Ltd., (Bermuda), 6.50%, 09/15/2028 (e)		98		88
8.63%, 04/30/2030 (e)		101		84
11.00%, 12/01/2024 (e)		93		93


				8,505

Pipelines — 2.8%
Antero Midstream Partners LP / Antero Midstream Finance Corp., 5.38%, 06/15/2029 (e)		3,541		3,171
5.75%, 03/01/2027 (e)		2,484		2,310
5.75%, 01/15/2028 (e)		1,646		1,499
7.88%, 05/15/2026 (e)		450		449
Buckeye Partners LP,
3.95%, 12/01/2026		178		156
5.60%, 10/15/2044		46		32
5.85%, 11/15/2043		17		12
Cheniere Corpus Christi Holdings LLC, 5.88%, 03/31/2025		1,000		1,024
Cheniere Energy Partners LP, 3.25%, 01/31/2032 (e)		5,332		4,199
4.00%, 03/01/2031		3,794		3,226
4.50%, 10/01/2029		701		626
Cheniere Energy, Inc., 4.63%, 10/15/2028		12,294		11,072
CNX Midstream Partners LP, 4.75%, 04/15/2030 (e)		1,090		916


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Pipelines — continued
CQP Holdco LP / BIP-V Chinook Holdco LLC, 5.50%, 06/15/2031 (e)		5,092		4,320
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.63%, 05/01/2027 (e)		62		55
6.00%, 02/01/2029 (e)		231		201
8.00%, 04/01/2029 (e)		104		97
DCP Midstream Operating LP, 5.60%, 04/01/2044		258		209
6.45%, 11/03/2036 (e)		610		598
6.75%, 09/15/2037 (e)		260		247
DT Midstream, Inc., 4.13%, 06/15/2029 (e)		2,939		2,483
4.38%, 06/15/2031 (e)		244		204
Energy Transfer LP, 4.25%, 03/15/2023		276		276
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa)		639		565
EnLink Midstream LLC, 5.38%, 06/01/2029		726		635
5.63%, 01/15/2028 (e)		1,908		1,751
EnLink Midstream Partners LP, 4.15%, 06/01/2025		241		222
4.40%, 04/01/2024		94		91
4.85%, 07/15/2026		1,139		1,051
5.05%, 04/01/2045		14		9
5.45%, 06/01/2047		1,586		1,123
5.60%, 04/01/2044		113		80
EQM Midstream Partners LP, 4.50%, 01/15/2029 (e)		11		9
4.75%, 01/15/2031 (e)		325		259
6.00%, 07/01/2025 (e)		119		114
6.50%, 07/01/2027 (e)		1,343		1,249
7.50%, 06/01/2027 (e)		225		217
7.50%, 06/01/2030 (e)		1,025		985
Global Partners LP / GLP Finance Corp., 6.88%, 01/15/2029		1,050		888
7.00%, 08/01/2027		600		540
Hess Midstream Operations LP, 4.25%, 02/15/2030 (e)		1,110		930
ITT Holdings LLC, 6.50%, 08/01/2029 (e)		2,278		1,822
Kinetik Holdings LP, 5.88%, 06/15/2030 (e)		488		465
MPLX LP, 4.95%, 03/14/2052		504		440
New Fortress Energy, Inc., 6.50%, 09/30/2026 (e)		4,271		3,866
6.75%, 09/15/2025 (e)		5,646		5,336
NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 02/01/2026 (e)		1,681		1,513
NOVA Gas Transmission Ltd., (Canada), 7.88%, 04/01/2023		420		431
NuStar Logistics LP, 5.75%, 10/01/2025		32		30
6.00%, 06/01/2026		1,116		1,044
6.38%, 10/01/2030		13		11
Rockies Express Pipeline LLC, 3.60%, 05/15/2025 (e)		50		45
7.50%, 07/15/2038 (e)		3,500		3,080


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Pipelines — continued
Sabine Pass Liquefaction LLC, 5.63%, 04/15/2023		354		357
5.75%, 05/15/2024		371		379
5.88%, 06/30/2026		500		518
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 5.50%, 01/15/2028 (e)		3,225		2,746
6.00%, 03/01/2027 (e)		836		746
6.00%, 12/31/2030 (e)		1,983		1,646
6.00%, 09/01/2031 (e)		190		157
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 6.50%, 07/15/2027		244		249
Venture Global Calcasieu Pass LLC, 3.88%, 08/15/2029 (e)		6,068		5,308
3.88%, 11/01/2033 (e)		4,986		4,114
4.13%, 08/15/2031 (e)		2,429		2,082
Western Midstream Operating LP, 4.55%, 02/01/2030		1,600		1,384
5.30%, 03/01/2048		624		503
5.45%, 04/01/2044		190		158
5.50%, 08/15/2048		463		377
5.75%, 02/01/2050		4,725		3,798


				90,705

Total Energy				318,000

Financial — 14.0%
Banks — 3.4%
ABN AMRO Bank NV, (Netherlands), 4.75%, 07/28/2025 (e)		700		697
AIB Group plc, (Ireland), (ICE LIBOR USD 3 Month + 1.87%), 4.26%, 04/10/2025 (e) (aa)		483		474
Australia & New Zealand Banking Group Ltd., (Australia), 4.40%, 05/19/2026 (e)		264		261
Banco Bilbao Vizcaya Argentaria SA, (Spain), Reg. S, (EUR Swap Rate 5 Year + 6.04%), 6.00%, 03/29/2024 (x) (aa)	EUR	400		393
Bangkok Bank PCL, (Thailand), Reg. S, (CMT Index 5 Year + 1.90%), 3.73%, 09/25/2034 (aa)		11,200		9,816
Bank Negara Indonesia Persero Tbk. PT, (Indonesia), Reg. S, 3.75%, 03/30/2026		25,550		23,134
Bank of America Corp.,
(ICE LIBOR USD 3 Month + 0.93%), 2.82%, 07/21/2023 (aa)		831		831
(United States SOFR + 1.33%), 3.38%, 04/02/2026 (aa)		672		652
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa)		1,000		995
Series L, 3.95%, 04/21/2025		552		545
Bank of East Asia Ltd. (The), (Hong Kong), Reg. S, (CMT Index 5 Year + 3.75%), 4.00%, 05/29/2030 (aa)		4,700		4,556


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Banks — continued
Bank of Ireland Group plc, (Ireland), 4.50%, 11/25/2023 (e)		500		499
Bank of Montreal, (Canada), 3.70%, 06/07/2025		541		537
BankUnited, Inc., 4.88%, 11/17/2025		544		550
Barclays plc, (United Kingdom),
(United States SOFR + 2.71%), 2.85%, 05/07/2026 (aa)		376		355
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		415		409
(ICE LIBOR USD 3 Month + 1.36%), 4.34%, 05/16/2024 (aa)		200		200
(CMT Index 5 Year + 3.41%), 4.38%, 03/15/2028 (x) (aa)		465		357
BNP Paribas SA, (France),
(United States SOFR + 1.00%), 1.32%, 01/13/2027 (e) (aa)		221		196
(ICE LIBOR USD 3 Month + 2.24%), 4.71%, 01/10/2025 (e) (aa)		1,045		1,045
BPCE SA, (France), 4.50%, 03/15/2025 (e)		200		196
4.88%, 04/01/2026 (e)		200		197
5.15%, 07/21/2024 (e)		1,335		1,336
Citigroup, Inc.,
(ICE LIBOR USD 3 Month + 0.95%), 2.88%, 07/24/2023 (aa)		1,178		1,178
3.70%, 01/12/2026		608		596
(United States SOFR + 1.37%), 4.14%, 05/24/2025 (aa)		243		242
Series W, (CMT Index 5 Year + 3.60%), 4.00%, 12/10/2025 (x) (aa)		185		160
Series Y, (CMT Index 5 Year + 3.00%), 4.15%, 11/15/2026 (x) (aa)		15		12
Commerzbank AG, (Germany), Reg. S, (EUR Swap Rate 5 Year + 6.36%), 6.13%, 10/09/2025 (x) (aa)	EUR	400		378
Credit Agricole SA, (France), 4.38%, 03/17/2025 (e)		450		442
(CMT Index 5 Year + 3.24%), 4.75%, 03/23/2029 (e) (x) (aa)		261		203
Credit Suisse Group AG, (Switzerland),
(ICE LIBOR USD 3 Month + 1.20%), 3.00%, 12/14/2023 (e) (aa)		600		596
(ICE LIBOR USD 3 Month + 1.24%), 4.21%, 06/12/2024 (e) (aa)		1,100		1,090
Reg. S, (USD Semi-annual Swap Rate 5 Year + 3.46%), 6.25%, 12/18/2024 (x) (aa)		200		182
(CMT Index 5 Year + 4.82%), 6.38%, 08/21/2026 (e) (x) (aa)		369		305
Danske Bank A/S, (Denmark),
(CMT Index 1 Year + 1.03%), 1.17%, 12/08/2023 (e) (aa)		1,172		1,157
(ICE LIBOR USD 3 Month + 1.59%), 3.24%, 12/20/2025 (e) (aa)		1,193		1,138


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Banks — continued
Deutsche Bank AG, (Germany), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 3.30%), 4.00%, 06/24/2032 (aa)	EUR	400		383
Development Bank of the Philippines, (Philippines), Reg. S, 2.38%, 03/11/2031		1,383		1,082
Discover Bank, 4.25%, 03/13/2026		250		244
Freedom Mortgage Corp., 7.63%, 05/01/2026 (e)		1,008		786
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.54%), 0.63%, 11/17/2023 (aa)		221		219
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa)		700		623
(United States SOFR + 1.11%), 2.64%, 02/24/2028 (aa)		554		504
(ICE LIBOR USD 3 Month + 0.99%), 2.91%, 07/24/2023 (aa)		321		321
(ICE LIBOR USD 3 Month + 1.20%), 3.27%, 09/29/2025 (aa)		316		307
Series R, (CMT Index 5 Year + 3.22%), 4.95%, 02/10/2025 (x) (aa)		441		397
HSBC Holdings plc, (United Kingdom),
(United States SOFR + 0.53%), 0.73%, 08/17/2024 (aa)		416		399
4.25%, 03/14/2024		352		349
(CMT Index 5 Year + 3.65%), 4.60%, 12/17/2030 (x) (aa)		200		154
Huntington National Bank (The), (United States SOFR + 1.21%), 4.01%, 05/16/2025 (aa)		250		250
Industrial & Commercial Bank of China Ltd., (China), Reg. S, (CMT Index 5 Year + 2.37%), 3.20%, 09/24/2026 (x) (aa)		7,800		7,393
ING Groep NV, (Netherlands), Reg. S, (USD ICE Swap Rate 5 Year + 1.94%), 4.70%, 03/22/2028 (aa)		614		610
Intesa Sanpaolo SpA, (Italy), 3.38%, 01/12/2023 (e)		367		365
(CMT Index 1 Year + 2.60%), 4.20%, 06/01/2032 (e) (aa)		2,045		1,501
5.02%, 06/26/2024 (e)		672		642
Reg. S, (EUR Swap Rate 5 Year + 7.19%), 7.75%, 01/11/2027 (x) (aa)	EUR	300		298
Kasikornbank PCL, (Thailand),
Reg. S, (CMT Index 5 Year + 1.70%), 3.34%, 10/02/2031 (aa)		8,700		7,815
Reg. S, (CMT Index 5 Year + 4.94%), 5.28%, 10/14/2025 (x) (aa)		16,500		15,304
Lloyds Banking Group plc, (United Kingdom), 4.58%, 12/10/2025		468		459
M&T Bank Corp., 3.65%, 12/06/2022		288		288
Macquarie Bank Ltd., (Australia), 4.88%, 06/10/2025 (e)		284		284
Morgan Stanley,
(United States SOFR + 0.51%), 0.79%, 01/22/2025 (aa)		500		473


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Banks — continued
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		390		385
(ICE LIBOR USD 3 Month + 0.85%), 3.74%, 04/24/2024 (aa)		498		497
Popular, Inc., (Puerto Rico), 6.13%, 09/14/2023		2,750		2,770
Santander UK Group Holdings plc, (United Kingdom),
(United States SOFR + 0.79%), 1.09%, 03/15/2025 (aa)		200		187
(ICE LIBOR USD 3 Month + 1.08%), 3.37%, 01/05/2024 (aa)		1,702		1,694
4.75%, 09/15/2025 (e)		200		198
Shinhan Financial Group Co. Ltd., (South Korea), Reg. S, (CMT Index 5 Year + 2.06%), 2.88%, 05/12/2026 (x) (aa)		3,200		2,832
Standard Chartered plc, (United Kingdom),
(CMT Index 1 Year + 1.17%), 1.32%, 10/14/2023 (e) (aa)		421		418
5.20%, 01/26/2024 (e)		585		591
Synovus Financial Corp., 3.13%, 11/01/2022		549		548
UBS AG, (Switzerland), 7.63%, 08/17/2022		2,000		2,006
UBS Group AG, (Switzerland),
(CMT Index 5 Year + 3.31%), 4.38%, 02/10/2031 (e) (x) (aa)		200		146
(CMT Index 1 Year + 1.55%), 4.49%, 05/12/2026 (e) (aa)		208		208
UniCredit SpA, (Italy),
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 7.33%), 7.50%, 06/03/2026 (x) (aa)	EUR	200		193
7.83%, 12/04/2023 (e)		350		362
Wells Fargo & Co., Series BB, (CMT Index 5 Year + 3.45%), 3.90%, 03/15/2026 (x) (aa)		259		220


				110,615

Diversified Financial Services — 2.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 2.88%, 08/14/2024		336		320
3.50%, 01/15/2025		347		332
Air Lease Corp., 3.00%, 09/15/2023		320		313
Aircastle Ltd., (Bermuda), 4.40%, 09/25/2023		448		442
Ally Financial, Inc., 1.45%, 10/02/2023		80		77
5.13%, 09/30/2024		250		253
5.75%, 11/20/2025		414		408
American Express Co., (CMT Index 5 Year + 2.85%), 3.55%, 09/15/2026 (x) (aa)		760		618
Aviation Capital Group LLC, 5.50%, 12/15/2024 (e)		300		298
Avolon Holdings Funding Ltd., (Cayman Islands), 4.25%, 04/15/2026 (e)		439		407


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Diversified Financial Services — continued
BOC Aviation Ltd., (Singapore),
Reg. S, 3.25%, 04/29/2025		600		585
3.88%, 04/27/2026 (e)		1,100		1,082
Bread Financial Holdings, Inc., 4.75%, 12/15/2024 (e)		1,873		1,716
Capital One Financial Corp., (United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa)		260		256
Castlelake Aviation Finance DAC, (Ireland), 5.00%, 04/15/2027 (e)		275		228
Charles Schwab Corp. (The), Series H, (CMT Index 10 Year + 3.08%), 4.00%, 12/01/2030 (x) (aa)		1,868		1,427
Citigroup Global Markets Holdings, Inc., 0.75%, 06/07/2024		874		821
doValue SpA, (Italy), Reg. S, 5.00%, 08/04/2025	EUR	100		100
Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin, 3.88%, 02/15/2026 (e)		250		229
Enact Holdings, Inc., 6.50%, 08/15/2025 (e)		1,212		1,143
Encore Capital Group, Inc., Reg. S, 5.38%, 02/15/2026	GBP	200		228
Garfunkelux Holdco 3 SA, (Luxembourg),
Reg. S, 6.75%, 11/01/2025	EUR	300		279
Reg. S, 7.75%, 11/01/2025	GBP	100		109
Global Aircraft Leasing Co. Ltd., (Cayman Islands), 6.50% (cash), 09/15/2024 (e) (v)		157		119
goeasy Ltd., (Canada), 5.38%, 12/01/2024 (e)		800		734
Home Point Capital, Inc., 5.00%, 02/01/2026 (e)		1,474		1,017
Intrum AB, (Sweden),
Reg. S, 3.50%, 07/15/2026	EUR	300		262
Reg. S, 4.88%, 08/15/2025	EUR	200		190
Jefferies Finance LLC / JFIN Co-Issuer Corp., 5.00%, 08/15/2028 (e)		3,990		3,282
Jerrold Finco plc, (United Kingdom), Reg. S, 4.88%, 01/15/2026	GBP	100		107
King Talent Management Ltd., (Cayman Islands), Reg. S, (CMT Index 5 Year + 3.52%), 5.60%, 12/04/2022 (x) (aa)		1,500		1,427
LD Holdings Group LLC, 6.13%, 04/01/2028 (e)		1,593		961
6.50%, 11/01/2025 (e)		1,110		755
LFS Topco LLC, 5.88%, 10/15/2026 (e)		625		494
Lincoln Financing Sarl, (Luxembourg), Reg. S, 3.63%, 04/01/2024	EUR	100		101
LPL Holdings, Inc., 4.00%, 03/15/2029 (e)		2,825		2,417
4.38%, 05/15/2031 (e)		500		427
Muthoot Finance Ltd., (India), Reg. S, 4.40%, 09/02/2023		12,200		11,834
Nationstar Mortgage Holdings, Inc., 5.13%, 12/15/2030 (e)		2,266		1,694


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Diversified Financial Services — continued
5.50%, 08/15/2028 (e)		3,505		2,812
6.00%, 01/15/2027 (e)		1,000		868
Navient Corp., 5.50%, 03/15/2029		3,885		2,995
5.88%, 10/25/2024		190		175
6.13%, 03/25/2024		399		378
7.25%, 09/25/2023		161		159
NFP Corp., 4.88%, 08/15/2028 (e)		2,303		1,973
6.88%, 08/15/2028 (e)		7,945		6,610
OneMain Finance Corp., 3.50%, 01/15/2027		1,301		1,041
3.88%, 09/15/2028		250		191
4.00%, 09/15/2030		3,209		2,376
5.38%, 11/15/2029		1,706		1,380
6.13%, 03/15/2024		171		163
6.63%, 01/15/2028		255		228
6.88%, 03/15/2025		9,877		9,334
7.13%, 03/15/2026		564		523
8.25%, 10/01/2023		155		155
Park Aerospace Holdings Ltd., (Cayman Islands), 4.50%, 03/15/2023 (e)		765		762
5.50%, 02/15/2024 (e)		250		248
PennyMac Financial Services, Inc., 4.25%, 02/15/2029 (e)		925		680
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/2026 (e)		3,078		2,544
4.00%, 10/15/2033 (e)		1,505		1,068
Sherwood Financing plc, (United Kingdom),
Reg. S, (ICE LIBOR EUR 3 Month + 4.63%), 4.63%, 11/15/2027 (aa)	EUR	100		95
Reg. S, 6.00%, 11/15/2026	GBP	200		195
Shriram Transport Finance Co. Ltd., (India),
Reg. S, 5.10%, 07/16/2023		16,600		15,895
Reg. S, 5.95%, 10/24/2022		200		197
SLM Corp., 3.13%, 11/02/2026		61		49
VistaJet Malta Finance PLC / XO Management Holding, Inc., (Multinational), 6.38%, 02/01/2030 (e)		650		520
7.88%, 05/01/2027 (e)		2,928		2,584


				93,690

Insurance — 0.8%
Acrisure LLC / Acrisure Finance, Inc., 6.00%, 08/01/2029 (e)		98		77
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 4.25%, 10/15/2027 (e)		5,451		4,718
5.88%, 11/01/2029 (e)		4,626		3,839
6.75%, 10/15/2027 (e)		2,500		2,218
AmWINS Group, Inc., 4.88%, 06/30/2029 (e)		1,652		1,353
Aon Corp., 8.21%, 01/01/2027		269		285


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Insurance — continued
BroadStreet Partners, Inc., 5.88%, 04/15/2029 (e)		875		685
CNO Financial Group, Inc., 5.25%, 05/30/2025		250		254
CNO Global Funding, 1.75%, 10/07/2026 (e)		406		359
F&G Global Funding, 1.75%, 06/30/2026 (e)		220		195
2.30%, 04/11/2027 (e)		444		397
GA Global Funding Trust, 0.80%, 09/13/2024 (e)		336		308
3.85%, 04/11/2025 (e)		483		474
Galaxy Bidco Ltd., (Jersey), Reg. S, 6.50%, 07/31/2026	GBP	300		334
GTCR AP Finance, Inc., 8.00%, 05/15/2027 (e)		1,684		1,577
HUB International Ltd., 5.63%, 12/01/2029 (e)		60		49
7.00%, 05/01/2026 (e)		3,873		3,654
Liberty Mutual Group, Inc., Reg. S, (EUR Swap Rate 5 Year + 3.70%), 3.63%, 05/23/2059 (aa)	EUR	100		94
Muang Thai Life Assurance PCL, (Thailand), Reg. S, (CMT Index 10 Year + 2.40%), 3.55%, 01/27/2037 (aa)		2,400		2,153
ZhongAn Online P&C Insurance Co. Ltd., (China), Reg. S, 3.13%, 07/16/2025		2,900		2,645


				25,668

Investment Companies — 0.8%
Compass Group Diversified Holdings LLC, 5.25%, 04/15/2029 (e)		1,074		886
Huarong Finance 2019 Co. Ltd., (British Virgin Islands), Reg. S, 4.50%, 05/29/2029		13,200		10,956
Huarong Finance II Co. Ltd., (British Virgin Islands), Reg. S, 5.00%, 11/19/2025		9,700		9,142
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 4.38%, 02/01/2029		4,025		3,236
5.25%, 05/15/2027		3,692		3,270
6.25%, 05/15/2026		88		82
OWL Rock Core Income Corp., 5.50%, 03/21/2025 (e)		195		188


				27,760

Real Estate — 4.3%
ADLER Group SA, (Luxembourg),
Reg. S, 2.75%, 11/13/2026	EUR	200		105
Reg. S, 3.25%, 08/05/2025	EUR	100		56
Agile Group Holdings Ltd., (Cayman Islands), Reg. S, 5.75%, 01/02/2025		9,200		3,082
Aroundtown SA, (Luxembourg), Reg. S, (EUR Swap Rate 5 Year + 3.98%), 3.38%, 09/23/2024 (x) (aa)	EUR	200		155


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Real Estate — continued
Central China Real Estate Ltd., (Cayman Islands), Reg. S, 7.65%, 08/27/2023		750		327
China SCE Group Holdings Ltd., (Cayman Islands),
Reg. S, 5.95%, 09/29/2024		10,050		2,915
Reg. S, 6.00%, 02/04/2026		4,300		1,161
CIFI Holdings Group Co. Ltd., (Cayman Islands),
Reg. S, 4.45%, 08/17/2026		21,850		12,272
Reg. S, 6.00%, 07/16/2025		5,500		3,275
Country Garden Holdings Co. Ltd., (Cayman Islands),
Reg. S, 2.70%, 07/12/2026		1,500		693
Reg. S, 3.88%, 10/22/2030		3,000		1,245
Reg. S, 5.13%, 01/14/2027		2,400		1,049
Reg. S, 7.25%, 04/08/2026		7,800		4,216
Cushman & Wakefield US Borrower LLC, 6.75%, 05/15/2028 (e)		2,177		2,022
DIC Asset AG, (Germany), Reg. S, 2.25%, 09/22/2026	EUR	100		70
Five Point Operating Co. LP / Five Point Capital Corp., 7.88%, 11/15/2025 (e)		5,405		4,533
Gemdale Ever Prosperity Investment Ltd., (Hong Kong), Reg. S, 4.95%, 08/12/2024		3,000		2,426
Global Prime Capital Pte Ltd., (Singapore), Reg. S, 5.95%, 01/23/2025		1,800		1,705
Greenland Global Investment Ltd., (British Virgin Islands), Reg. S, 7.25%, 01/22/2025		8,700		2,353
Greentown China Holdings Ltd., (Cayman Islands), Reg. S, 4.70%, 04/29/2025		2,300		1,817
Greystar Real Estate Partners LLC, 5.75%, 12/01/2025 (e)		600		568
Heimstaden Bostad AB, (Sweden), Reg. S, (EUR Swap Rate 5 Year + 3.27%), 3.00%, 10/29/2027 (x) (aa)	EUR	300		157
Howard Hughes Corp. (The), 4.13%, 02/01/2029 (e)		706		544
4.38%, 02/01/2031 (e)		2,433		1,803
5.38%, 08/01/2028 (e)		4,600		3,853
Hunt Cos., Inc., 5.25%, 04/15/2029 (e)		3,325		2,826
KWG Group Holdings Ltd., (Cayman Islands), Reg. S, 5.95%, 08/10/2025		16,700		3,258
New Metro Global Ltd., (British Virgin Islands),
Reg. S, 4.80%, 12/15/2024		3,700		1,999
Reg. S, 6.80%, 08/05/2023		9,500		6,422
NWD Finance BVI Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 7.89%), 5.25%, 03/22/2026 (x) (aa)		24,800		23,498
Powerlong Real Estate Holdings Ltd., (Cayman Islands),
Reg. S, 5.95%, 04/30/2025		9,900		1,485
Reg. S, 6.25%, 08/10/2024		800		136


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Real Estate — continued
Realogy Group LLC / Realogy Co-Issuer Corp., 5.25%, 04/15/2030 (e)		1,005		744
5.75%, 01/15/2029 (e)		2,600		1,971
RKPF Overseas 2019 A Ltd., (British Virgin Islands), Reg. S, 6.00%, 09/04/2025		2,900		1,413
RKPF Overseas 2020 A Ltd., (British Virgin Islands), Reg. S, 5.13%, 07/26/2026		15,250		7,066
Seazen Group Ltd., (Cayman Islands), Reg. S, 6.15%, 04/15/2023		1,000		737
Sunac China Holdings Ltd., (Cayman Islands),
Reg. S, 5.95%, 04/26/2024 (d)		1,500		218
Reg. S, 6.50%, 07/09/2023 (d)		9,400		1,363
Reg. S, 6.80%, 10/20/2024 (d)		17,500		2,451
Reg. S, 7.95%, 10/11/2023 (d)		2,000		290
Times China Holdings Ltd., (Cayman Islands),
Reg. S, 5.55%, 06/04/2024		8,800		1,395
Reg. S, 6.60%, 03/02/2023		1,200		216
Vivion Investments Sarl, (Luxembourg), Reg. S, 3.50%, 11/01/2025	EUR	200		177
VLL International, Inc., (Cayman Islands), Reg. S, 5.75%, 11/28/2024		11,000		10,628
Wanda Group Overseas Ltd., (Hong Kong), Reg. S, 7.50%, 07/24/2022		9,800		9,565
WeWork Cos. LLC / WW Co-Obligor, Inc., 5.00%, 07/10/2025 (e)		167		108
Yanlord Land HK Co. Ltd., (Hong Kong), Reg. S, 5.13%, 05/20/2026		11,100		8,393


				138,761

REITS — 1.8%
American Tower Corp., 3.65%, 03/15/2027		414		394
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 4.50%, 04/01/2027 (e)		65		54
Diversified Healthcare Trust, 4.38%, 03/01/2031		3,325		2,261
4.75%, 05/01/2024		250		224
4.75%, 02/15/2028		1,750		1,288
9.75%, 06/15/2025		2,433		2,400
EPR Properties, 4.75%, 12/15/2026		305		287
GLP Capital LP / GLP Financing II, Inc., 5.25%, 06/01/2025		139		136
HAT Holdings I LLC / HAT Holdings II LLC, 3.38%, 06/15/2026 (e)		1,380		1,187
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/2032 (e)		1,149		926
Iron Mountain UK plc, (United Kingdom), Reg. S, 3.88%, 11/15/2025	GBP	300		326
Iron Mountain, Inc., 5.25%, 07/15/2030 (e)		349		303
Kite Realty Group Trust, 4.00%, 03/15/2025		91		89
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.75%, 06/15/2029 (e)		19		15


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
REITS — continued
LMIRT Capital Pte Ltd., (Singapore), Reg. S, 7.25%, 06/19/2024		6,100		5,432
MPT Operating Partnership LP / MPT Finance Corp., 3.50%, 03/15/2031		8,073		6,297
4.63%, 08/01/2029		1,849		1,622
5.00%, 10/15/2027		1,669		1,527
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.50%, 06/01/2025 (e)		4,305		4,296
RHP Hotel Properties LP / RHP Finance Corp., 4.75%, 10/15/2027		4,366		3,878
RLJ Lodging Trust LP, 4.00%, 09/15/2029 (e)		159		130
SBA Communications Corp., 3.13%, 02/01/2029		90		74
3.88%, 02/15/2027		3,200		2,916
Service Properties Trust, 7.50%, 09/15/2025		4		4
SL Green Operating Partnership LP, 3.25%, 10/15/2022		560		559
Starwood Property Trust, Inc., 3.75%, 12/31/2024 (e)		175		159
5.50%, 11/01/2023 (e)		2		2
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC, 6.00%, 01/15/2030 (e)		525		365
7.88%, 02/15/2025 (e)		8,695		8,391
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 4.75%, 04/15/2028 (e)		1,956		1,600
6.50%, 02/15/2029 (e)		2,660		1,949
VICI Properties LP, 5.63%, 05/15/2052		714		650
VICI Properties LP / VICI Note Co., Inc., 3.50%, 02/15/2025 (e)		230		215
3.75%, 02/15/2027 (e)		105		93
4.50%, 09/01/2026 (e)		2,000		1,840
4.63%, 06/15/2025 (e)		471		448
5.63%, 05/01/2024 (e)		230		227
5.75%, 02/01/2027 (e)		4,538		4,306
Vornado Realty LP, 3.50%, 01/15/2025		219		212
WEA Finance LLC / Westfield UK & Europe Finance plc, 3.75%, 09/17/2024 (e)		961		928


				58,010

Savings & Loans — 0.0% (g)
Nationwide Building Society, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.06%), 3.77%, 03/08/2024 (e) (aa)		200		200
4.00%, 09/14/2026 (e)		394		380


				580

Total Financial				455,084

Government — 0.7%
Sovereign — 0.7%
1MDB Global Investments Ltd., (British Virgin Islands), Reg. S, 4.40%, 03/09/2023		23,100		22,396


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Industrial — 7.4%
Aerospace/Defense — 2.0%
Boeing Co. (The), 5.93%, 05/01/2060		6,920		6,337
Bombardier, Inc., (Canada),
6.00%, 02/15/2028 (e)		5,006		3,752
7.13%, 06/15/2026 (e)		5,283		4,306
7.45%, 05/01/2034 (e)		151		113
7.50%, 12/01/2024 (e)		2,296		2,158
7.50%, 03/15/2025 (e)		2,200		1,988
7.88%, 04/15/2027 (e)		15,372		12,666
BWX Technologies, Inc.,
4.13%, 06/30/2028 (e)		341		304
4.13%, 04/15/2029 (e)		2,146		1,883
F-Brasile SpA / F-Brasile US LLC, (Italy), Series XR, 7.38%, 08/15/2026 (e)		256		205
Howmet Aerospace, Inc., 6.88%, 05/01/2025		83		85
Rolls-Royce plc, (United Kingdom), 3.63%, 10/14/2025 (e)		364		322
5.75%, 10/15/2027 (e)		4,023		3,626
Spirit AeroSystems, Inc., 7.50%, 04/15/2025 (e)		586		544
TransDigm UK Holdings plc, (United Kingdom), 6.88%, 05/15/2026		1,500		1,399
TransDigm, Inc., 4.63%, 01/15/2029		3,809		3,077
4.88%, 05/01/2029		1,500		1,221
5.50%, 11/15/2027		400		338
6.25%, 03/15/2026 (e)		20,097		19,388
7.50%, 03/15/2027		1,451		1,369
8.00%, 12/15/2025 (e)		687		695
Triumph Group, Inc., 8.88%, 06/01/2024 (e)		438		441


				66,217

Building Materials — 0.8%
Cornerstone Building Brands, Inc., 6.13%, 01/15/2029 (e)		515		331
CP Atlas Buyer, Inc., 7.00%, 12/01/2028 (e)		54		39
Eco Material Technologies, Inc., 7.88%, 01/31/2027 (e)		2,100		1,866
Griffon Corp., 5.75%, 03/01/2028		880		799
HT Troplast GmbH, (Germany), Reg. S, 9.25%, 07/15/2025	EUR	200		185
JELD-WEN, Inc., 4.63%, 12/15/2025 (e)		1,290		1,096
Masonite International Corp., (Canada), 3.50%, 02/15/2030 (e)		572		455
5.38%, 02/01/2028 (e)		1,700		1,539
MIWD Holdco II LLC / MIWD Finance Corp., 5.50%, 02/01/2030 (e)		2,025		1,630
New Enterprise Stone & Lime Co., Inc., 9.75%, 07/15/2028 (e)		381		326
PCF GmbH, (Germany), Reg. S, 4.75%, 04/15/2026	EUR	200		165


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Building Materials — continued
SRM Escrow Issuer LLC, 6.00%, 11/01/2028 (e)		5,266		4,424
Standard Industries, Inc., 3.38%, 01/15/2031 (e)		4,031		2,977
4.38%, 07/15/2030 (e)		5,532		4,364
Summit Materials LLC / Summit Materials Finance Corp., 5.25%, 01/15/2029 (e)		321		280
6.50%, 03/15/2027 (e)		900		868
UltraTech Cement Ltd., (India), Reg. S, 2.80%, 02/16/2031		1,200		953
West China Cement Ltd., (Jersey), Reg. S, 4.95%, 07/08/2026		6,200		4,945


				27,242

Electrical Components & Equipments — 0.2%
Energizer Holdings, Inc., 4.38%, 03/31/2029 (e)		500		384
4.75%, 06/15/2028 (e)		500		397
6.50%, 12/31/2027 (e)		821		719
EnerSys, 4.38%, 12/15/2027 (e)		560		493
WESCO Distribution, Inc., 7.13%, 06/15/2025 (e)		1,805		1,794
7.25%, 06/15/2028 (e)		3,571		3,532


				7,319

Electronics — 0.6%
AAC Technologies Holdings, Inc., (Cayman Islands), Reg. S, 3.00%, 11/27/2024		8,800		8,211
II-VI, Inc., 5.00%, 12/15/2029 (e)		3,953		3,449
Imola Merger Corp., 4.75%, 05/15/2029 (e)		2,290		1,916
Likewize Corp., 9.75%, 10/15/2025 (e)		2,330		2,205
Sensata Technologies BV, (Netherlands), 4.00%, 04/15/2029 (e)		74		63
Sensata Technologies, Inc.,
3.75%, 02/15/2031 (e)		547		438
4.38%, 02/15/2030 (e)		4,101		3,484


				19,766

Engineering & Construction — 0.9%
Abertis Infraestructuras Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 3.69%), 3.25%, 11/24/2025 (x) (aa)	EUR	300		251
Arcosa, Inc., 4.38%, 04/15/2029 (e)		1,267		1,066
Artera Services LLC, 9.03%, 12/04/2025 (e)		1,311		1,056
Celestial Miles Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 8.21%), 5.75%, 01/31/2024 (x) (aa)		13,800		13,821
Cellnex Telecom SA, (Spain), Reg. S, 1.00%, 04/20/2027	EUR	100		86
Fluor Corp., 3.50%, 12/15/2024		172		165


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Engineering & Construction — continued
GMR Hyderabad International Airport Ltd., (India),
Reg. S, 4.25%, 10/27/2027		3,100		2,598
Reg. S, 4.75%, 02/02/2026		9,500		8,602
Heathrow Finance plc, (United Kingdom), Reg. S, 6.25%, 03/03/2025	GBP	300		352
TopBuild Corp., 3.63%, 03/15/2029 (e)		500		394


				28,391

Environmental Control — 0.4%
Clean Harbors, Inc.,
4.88%, 07/15/2027 (e)		1,116		1,021
5.13%, 07/15/2029 (e)		113		103
Covanta Holding Corp., 4.88%, 12/01/2029 (e)		1,606		1,308
5.00%, 09/01/2030		9		7
GFL Environmental, Inc., (Canada), 3.50%, 09/01/2028 (e)		356		305
4.00%, 08/01/2028 (e)		4,194		3,460
4.38%, 08/15/2029 (e)		1,856		1,494
4.75%, 06/15/2029 (e)		586		485
5.13%, 12/15/2026 (e)		1,907		1,812
Madison IAQ LLC, 5.88%, 06/30/2029 (e)		216		163
Paprec Holding SA, (France), Reg. S, 3.50%, 07/01/2028	EUR	200		163
Waste Pro USA, Inc., 5.50%, 02/15/2026 (e)		2,655		2,358


				12,679

Hand/Machine Tools — 0.0% (g)
IMA Industria Macchine Automatiche SpA, (Italy), Reg. S, 3.75%, 01/15/2028	EUR	300		252

Machinery — Construction & Mining — 0.2%
Terex Corp., 5.00%, 05/15/2029 (e)		3,817		3,244
Vertiv Group Corp., 4.13%, 11/15/2028 (e)		3,772		3,063


				6,307

Machinery — Diversified — 0.5%
ATS Automation Tooling Systems, Inc., (Canada), 4.13%, 12/15/2028 (e)		114		95
GrafTech Finance, Inc., 4.63%, 12/15/2028 (e)		2,469		1,999
Granite US Holdings Corp., 11.00%, 10/01/2027 (e)		155		146
Husky III Holding Ltd., (Canada), 13.00% (cash), 02/15/2025 (e) (v)		122		118
Maxim Crane Works Holdings Capital LLC, 10.13%, 08/01/2024 (e)		3,396		3,243
OT Merger Corp., 7.88%, 10/15/2029 (e)		394		226
Renk AG / Frankfurt am Main, (Germany), Reg. S, 5.75%, 07/15/2025	EUR	300		286
Titan Acquisition Ltd. / Titan Co-Borrower LLC, (Multinational), 7.75%, 04/15/2026 (e)		3,995		3,672


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Machinery — Diversified — continued
TK Elevator Holdco GmbH, (Germany), 7.63%, 07/15/2028 (e)		2,487		2,232
TK Elevator Midco GmbH, (Germany), Reg. S, 4.38%, 07/15/2027	EUR	200		181
TK Elevator US Newco, Inc., 5.25%, 07/15/2027 (e)		5,639		5,028
Westinghouse Air Brake Technologies Corp., 4.38%, 08/15/2023		200		200


				17,426

Metal Fabricate/Hardware — 0.1%
Advanced Drainage Systems, Inc., 6.38%, 06/15/2030 (e)		2,991		2,925
Roller Bearing Co. of America, Inc., 4.38%, 10/15/2029 (e)		500		425
Vallourec SA, (France), Series REGS, Reg. S, 8.50%, 06/30/2026	EUR	200		195


				3,545

Miscellaneous Manufacturers — 0.2%
Amsted Industries, Inc.,
4.63%, 05/15/2030 (e)		3,361		2,865
5.63%, 07/01/2027 (e)		122		115
Gates Global LLC / Gates Corp., 6.25%, 01/15/2026 (e)		2,236		2,074
Parker-Hannifin Corp., 3.65%, 06/15/2024		313		312


				5,366

Packaging & Containers — 1.3%
ARD Finance SA, (Luxembourg), 6.50% (cash), 06/30/2027 (e) (v)		3,356		2,467
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc, (Multinational),
Reg. S, 2.00%, 09/01/2028	EUR	200		165
Reg. S, 3.00%, 09/01/2029	EUR	200		156
3.25%, 09/01/2028 (e)		200		171
4.00%, 09/01/2029 (e)		7,200		5,753
6.00%, 06/15/2027 (e)		1,492		1,473
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc., (Multinational), 5.25%, 08/15/2027 (e)		1,348		944
4.13%, 08/15/2026 (e)		482		409
5.25%, 04/30/2025 (e)		300		277
Ball Corp., 2.88%, 08/15/2030		118		95
3.13%, 09/15/2031		1,316		1,058
Clydesdale Acquisition Holdings, Inc., 6.63%, 04/15/2029 (e)		2,376		2,235
8.75%, 04/15/2030 (e)		2,716		2,332
Crown Americas LLC, 5.25%, 04/01/2030 (e)		422		395
Graham Packaging Co., Inc., 7.13%, 08/15/2028 (e)		1,375		1,103


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Packaging & Containers — continued
Graphic Packaging International LLC,
Reg. S, 2.63%, 02/01/2029	EUR	200		170
4.75%, 07/15/2027 (e)		1,059		1,000
Intelligent Packaging Holdco Issuer LP, (Canada), 9.00% (cash), 01/15/2026 (e) (v)		475		418
Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, (Canada), 6.00%, 09/15/2028 (e)		2,814		2,329
Iris Escrow Issuer Corp., 10.00%, 12/15/2028 (e)		1,700		1,326
Kleopatra Finco Sarl, (Luxembourg), Reg. S, 4.25%, 03/01/2026	EUR	300		256
LABL, Inc., 5.88%, 11/01/2028 (e)		2,552		2,060
6.75%, 07/15/2026 (e)		2,525		2,274
8.25%, 11/01/2029 (e)		1,050		793
10.50%, 07/15/2027 (e)		325		283
Mauser Packaging Solutions Holding Co., 5.50%, 04/15/2024 (e)		141		135
OI European Group BV, (Netherlands),
Reg. S, 2.88%, 02/15/2025	EUR	200		190
4.75%, 02/15/2030 (e)		300		251
Owens-Brockway Glass Container, Inc., 6.63%, 05/13/2027 (e)		529		494
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc., 4.38%, 10/15/2028 (e)		875		744
Sealed Air Corp., 4.00%, 12/01/2027 (e)		89		80
Silgan Holdings, Inc., 4.13%, 02/01/2028		93		83
Trident TPI Holdings, Inc., 9.25%, 08/01/2024 (e)		1,400		1,281
TriMas Corp., 4.13%, 04/15/2029 (e)		2,625		2,241
Trivium Packaging Finance BV, (Netherlands), 5.50%, 08/15/2026 (e)		2,436		2,291
8.50%, 08/15/2027 (e)		5,886		5,519
Verallia SA, (France), Reg. S, 1.88%, 11/10/2031	EUR	200		156


				43,407

Transportation — 0.1%
CMA CGM SA, (France), Reg. S, 7.50%, 01/15/2026	EUR	300		321
Getlink SE, (France), Reg. S, 3.50%, 10/30/2025	EUR	300		300
Misc Capital Two Labuan Ltd., (Malaysia), Reg. S, 3.75%, 04/06/2027		1,800		1,693
Poste Italiane SpA, (Italy), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.68%), 2.63%, 03/24/2029 (x) (aa)	EUR	200		146
Seaspan Corp., (Marshall Island), 5.50%, 08/01/2029 (e)		70		56


				2,516


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Trucking & Leasing — 0.1%
Fortress Transportation and Infrastructure Investors LLC, 5.50%, 05/01/2028 (e)		2,773		2,290
6.50%, 10/01/2025 (e)		167		157

				2,447

Total Industrial				242,880

Technology — 2.6%
Computers — 0.8%
Booz Allen Hamilton, Inc., 3.88%, 09/01/2028 (e)		249		220
4.00%, 07/01/2029 (e)		625		554
CA Magnum Holdings, (Mauritius), 5.38%, 10/31/2026 (e)		2,726		2,363
Reg. S, 5.38%, 10/31/2026		12,400		10,746
Centurion Bidco SpA, (Italy), Reg. S, 5.88%, 09/30/2026	EUR	300		275
Condor Merger Sub, Inc., 7.38%, 02/15/2030 (e)		5,264		4,300
Dell International LLC / EMC Corp., 6.02%, 06/15/2026		407		423
KBR, Inc., 4.75%, 09/30/2028 (e)		306		270
NCR Corp., 5.00%, 10/01/2028 (e)		1,289		1,092
5.13%, 04/15/2029 (e)		2,871		2,428
5.25%, 10/01/2030 (e)		1,052		907
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 5.75%, 06/01/2025 (e)		3,199		3,009


				26,587

Semiconductors — 0.2%
Entegris Escrow Corp., 4.75%, 04/15/2029 (e)		4,947		4,613
Entegris, Inc., 3.63%, 05/01/2029 (e)		150		125
4.38%, 04/15/2028 (e)		204		180
Microchip Technology, Inc., 4.25%, 09/01/2025		723		705
4.33%, 06/01/2023		438		438
Qorvo, Inc., 1.75%, 12/15/2024 (e)		78		73
SK Hynix, Inc., (South Korea), 1.50%, 01/19/2026 (e)		731		658
Synaptics, Inc., 4.00%, 06/15/2029 (e)		615		499


				7,291

Software — 1.6%
Black Knight InfoServ LLC, 3.63%, 09/01/2028 (e)		4,272		3,695
Boxer Parent Co., Inc.,
Reg. S, 6.50%, 10/02/2025	EUR	500		490
7.13%, 10/02/2025 (e)		5,795		5,506
9.13%, 03/01/2026 (e)		559		524
Camelot Finance SA, (Luxembourg), 4.50%, 11/01/2026 (e)		1,900		1,733
Central Parent, Inc. / Central Merger Sub, Inc., 7.25%, 06/15/2029 (e)		2,403		2,321


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Software — continued
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 5.75%, 03/01/2025 (e)		1,870		1,828
Clarivate Science Holdings Corp., 3.88%, 07/01/2028 (e)		6,516		5,448
4.88%, 07/01/2029 (e)		775		636
Consensus Cloud Solutions, Inc., 6.50%, 10/15/2028 (e)		60		50
Dun & Bradstreet Corp. (The), 5.00%, 12/15/2029 (e)		3,815		3,295
Elastic NV, (Netherlands), 4.13%, 07/15/2029 (e)		1,576		1,316
Fair Isaac Corp., 4.00%, 06/15/2028 (e)		1,249		1,105
Helios Software Holdings, Inc. / ION Corporate Solutions Finance Sarl, 4.63%, 05/01/2028 (e)		699		561
MicroStrategy, Inc., 6.13%, 06/15/2028 (e)		2,265		1,804
Minerva Merger Sub, Inc., 6.50%, 02/15/2030 (e)		3,874		3,215
MSCI, Inc., 3.25%, 08/15/2033 (e)		71		57
3.63%, 09/01/2030 (e)		344		287
3.88%, 02/15/2031 (e)		1,542		1,318
Open Text Corp., (Canada), 3.88%, 02/15/2028 (e)		42		37
3.88%, 12/01/2029 (e)		541		461
Open Text Holdings, Inc., 4.13%, 02/15/2030 (e)		1,504		1,301
Oracle Corp., 2.50%, 04/01/2025		520		494
2.65%, 07/15/2026		130		120
Playtika Holding Corp., 4.25%, 03/15/2029 (e)		2,091		1,725
PTC, Inc., 3.63%, 02/15/2025 (e)		1,832		1,732
Rackspace Technology Global, Inc., 3.50%, 02/15/2028 (e)		375		294
SS&C Technologies, Inc., 5.50%, 09/30/2027 (e)		4,240		3,954
Twilio, Inc., 3.88%, 03/15/2031		2,204		1,813
Veritas US, Inc. / Veritas Bermuda Ltd., 7.50%, 09/01/2025 (e)		535		398
ZoomInfo Technologies LLC / ZoomInfo Finance Corp., 3.88%, 02/01/2029 (e)		6,203		5,231

				52,749

Total Technology				86,627

Utilities — 3.8%
Electric — 3.6%
ACEN Finance Ltd., (Cayman Islands), Reg. S, 4.00%, 03/08/2025 (x)		5,400		4,563
Adani Green Energy Ltd., (India), Reg. S, 4.38%, 09/08/2024		700		629
AES Corp. (The), 3.30%, 07/15/2025 (e)		527		494
Alexander Funding Trust, 1.84%, 11/15/2023 (e)		777		743


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Corporate Bonds — continued
Electric — continued
Calpine Corp., 3.75%, 03/01/2031 (e)		6,228		5,035
4.50%, 02/15/2028 (e)		1,273		1,155
4.63%, 02/01/2029 (e)		4,200		3,495
5.00%, 02/01/2031 (e)		2,225		1,802
5.13%, 03/15/2028 (e)		9,392		8,335
5.25%, 06/01/2026 (e)		164		156
Cikarang Listrindo Tbk. PT, (Indonesia), Reg. S, 4.95%, 09/14/2026		9,200		8,523
Clearway Energy Operating LLC, 3.75%, 01/15/2032 (e)		346		274
4.75%, 03/15/2028 (e)		1,556		1,399
Comision Federal de Electricidad, (Mexico), 4.88%, 01/15/2024 (e)		300		298
Edison International,
Series A, (CMT Index 5 Year + 4.70%), 5.38%, 03/15/2026 (x) (aa)		792		643
Series B, (CMT Index 5 Year + 3.90%), 5.00%, 12/15/2026 (x) (aa)		329		262
Electricite de France SA, (France),
Reg. S, (EUR Swap Rate 5 Year + 3.97%), 3.38%, 06/15/2030 (x) (aa)	EUR	400		272
Reg. S, (GBP Swap Rate 13 Year + 4.23%), 6.00%, 01/29/2026 (x) (aa)	GBP	300		322
Fells Point Funding Trust, 3.05%, 01/31/2027 (e)		424		391
FirstEnergy Corp., 2.05%, 03/01/2025		480		440
2.65%, 03/01/2030		1,308		1,079
Series B, 2.25%, 09/01/2030		24		19
Series C, 3.40%, 03/01/2050		3,785		2,566
FirstEnergy Transmission LLC, 4.55%, 04/01/2049 (e)		640		518
5.45%, 07/15/2044 (e)		985		920
Jersey Central Power & Light Co., 4.70%, 04/01/2024 (e)		562		566
JSW Hydro Energy Ltd., (India), Reg. S, 4.13%, 05/18/2031		4,416		3,514
Minejesa Capital BV, (Netherlands), Reg. S, 4.63%, 08/10/2030		3,400		3,046
Mong Duong Finance Holdings BV, (Netherlands), Reg. S, 5.13%, 05/07/2029		6,639		5,344
Naturgy Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 2.44%), 2.37%, 11/23/2026 (x) (aa)	EUR	400		324
NextEra Energy Capital Holdings, Inc., (ICE LIBOR USD 3 Month + 0.27%), 1.77%, 02/22/2023 (aa)		400		397
NRG Energy, Inc., 3.63%, 02/15/2031 (e)		5,313		4,165
3.88%, 02/15/2032 (e)		838		666
5.25%, 06/15/2029 (e)		2,679		2,391
5.75%, 01/15/2028		1,325		1,217
6.63%, 01/15/2027		538		527


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Electric — continued
Pacific Gas and Electric Co., 3.15%, 01/01/2026		290		266
Pattern Energy Operations LP / Pattern Energy Operations, Inc., 4.50%, 08/15/2028 (e)		1,097		961
PG&E Corp., 5.00%, 07/01/2028		925		793
5.25%, 07/01/2030		6,311		5,191
ReNew Wind Energy AP2 / ReNew Power Pvt Ltd. other 9 Subsidiaries, (India), Reg. S, 4.50%, 07/14/2028		11,800		9,251
SMC Global Power Holdings Corp., (Philippines), Reg. S, (CMT Index 5 Year + 9.20%), 7.00%, 10/21/2025 (x) (aa)		13,000		12,740
Star Energy Geothermal Wayang Windu Ltd., (British Virgin Islands), Reg. S, 6.75%, 04/24/2033		2,057		1,934
TransAlta Corp., (Canada), 4.50%, 11/15/2022		150		150
Vistra Corp.,
(CMT Index 5 Year + 5.74%), 7.00%, 12/15/2026 (e) (x) (aa)		4,249		3,856
(CMT Index 5 Year + 6.93%), 8.00%, 10/15/2026 (e) (x) (aa)		2,075		1,997
Vistra Operations Co. LLC, 3.55%, 07/15/2024 (e)		200		193
4.38%, 05/01/2029 (e)		11,869		9,930
4.88%, 05/13/2024 (e)		495		492
5.00%, 07/31/2027 (e)		1,090		988
5.50%, 09/01/2026 (e)		1,260		1,190
5.63%, 02/15/2027 (e)		853		800


				117,222

Gas — 0.2%
AmeriGas Partners LP / AmeriGas Finance Corp., 5.50%, 05/20/2025		2,505		2,358
5.88%, 08/20/2026		1,905		1,776
Atmos Energy Corp., (ICE LIBOR USD 3 Month + 0.38%), 2.07%, 03/09/2023 (aa)		388		387
Centrica plc, (United Kingdom), 4.00%, 10/16/2023 (e)		420		421
ONE Gas, Inc., 1.10%, 03/11/2024		500		476


				5,418

Water — 0.0% (g)
Thames Water Kemble Finance plc, (United Kingdom), Reg. S, 4.63%, 05/19/2026	GBP	168		191

Total Utilities				122,831

Total Corporate Bonds (Cost $2,840,689)				2,555,901

Foreign Government Securities — 1.6%
Mongolia Government International Bond, (Mongolia),
Reg. S, 5.13%, 04/07/2026		5,800		5,205
Reg. S, 5.63%, 05/01/2023		1,800		1,771
5.63%, 05/01/2023 (e)		4,200		4,132


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Foreign Government Securities — continued
Morocco Government International Bond, (Morocco), 4.25%, 12/11/2022 (e)		450		449
Oman Government International Bond, (Oman), Reg. S, 7.00%, 01/25/2051		1,000		879
Pakistan Government International Bond, (Pakistan),
Reg. S, 6.00%, 04/08/2026		17,000		11,471
Reg. S, 6.88%, 12/05/2027		10,900		7,409
Reg. S, 7.38%, 04/08/2031		11,750		7,382
Reg. S, 8.88%, 04/08/2051		1,100		654
Sri Lanka Government International Bond, (Sri Lanka),
Reg. S, 5.75%, 04/18/2023 (d)		2,600		824
6.20%, 05/11/2027 (d) (e)		15,600		4,919
Reg. S, 6.20%, 05/11/2027 (d)		3,800		1,198
Reg. S, 6.75%, 04/18/2028 (d)		4,000		1,261
Reg. S, 6.85%, 03/14/2024 (d)		12,100		3,846

Total Foreign Government Securities (Cost $66,885)				51,400

Municipal Bond — 0.0% (t)
Louisiana — 0.0% (g)
Louisiana Local Government Environmental Facilities & Community Development Authority, Taxable, Louisiana Utilities Restoration Corp., Rev., 3.62%, 02/01/2029 (Cost $204)		204		204

U.S. Treasury Obligations — 3.4%
U.S. Treasury Notes,
2.50%, 05/31/2024		32,890		32,620
2.50%, 03/31/2027 (ee) (ff)		24,000		23,451
2.63%, 05/31/2027		41,765		41,038
2.75%, 04/30/2027		12,520		12,369

Total U.S. Treasury Obligations (Cost $108,903)				109,478


	SHARES
Common Stock — 0.1%
Communications — 0.1%
Telecommunications — 0.1%
Intelsat SA, (Luxembourg) (a) (bb) (cc) (Cost $4,732)		87		2,359

Preferred Stock — 0.0% (g)
Consumer Cyclical — 0.0% (g)
Retail — 0.0% (g)
Ferrellgas Escrow LLC (a) (bb) (cc) (Cost $2,061)		2		2,125


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — 4.4% (o)
Basic Materials — 0.2%
Chemicals — 0.2%
Alpha 3 BV, Initial Dollar Term Loan, (Netherlands), (ICE LIBOR USD 1 Month + 2.50%), 4.17%, 03/18/2028 (u) (aa)		2,413		2,300
ARC Falcon I, Inc., Initial Term Loan, (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 09/30/2028 (aa)		604		556
Ascend Performance Materials Operations LLC, 2021 Refinancing Term Loan, (ICE LIBOR USD 3 Month + 4.75%), 7.00%, 08/27/2026 (u) (aa)		1,067		1,037
Axalta Coating Systems Dutch Holding B BV, Term B-3 Dollar Loan, (Netherlands), (ICE LIBOR USD 3 Month + 1.75%), 4.00%, 06/01/2024 (u) (aa)		247		241
Nutrition & Biosciences, Inc., 3-Year Delayed Draw Term Loan, (ICE LIBOR USD 3 Month + 1.25%), 2.58%, 01/17/2023 (f) (aa)		64		64
Nutrition & Biosciences, Inc., 5-year Delayed Draw Term Loan, (ICE LIBOR USD 3 Month + 1.63%), 2.96%, 01/17/2025 (f) (aa)		113		112
Sparta U.S. Holdco LLC, Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.50%), 4.62%, 08/02/2028 (u) (aa)		987		940
TPC Group, Inc., DIP Facility, (CME Term SOFR 1 Month + 10.00%), 1.73%, 03/01/2023 (d) (aa)		53		53

Total Basic Materials				5,303

Communications — 1.0%
Advertising — 0.1%
ABG Intermediate Holdings 2 LLC, 2021 Refinancing Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 09/27/2024 (aa)		718		687
Clear Channel Outdoor Holdings, Inc., Term B Loan, (ICE LIBOR USD 3 Month + 3.50%), 4.74%, 08/21/2026 (u) (aa)		3,351		2,869


				3,556

Internet — 0.2%
Acuris Finance US, Inc., Initial Dollar Term Loan, (CME Term SOFR 3 Month + 4.00%), 6.20%, 02/16/2028 (aa)		178		167
Barracuda Networks, Inc., Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 6.75%), 7.99%, 10/30/2028 (aa)		623		621
CNT Holdings I Corp., Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.50%), 4.62%, 11/08/2027 (u) (aa)		499		472
Comcast Hulu Holdings LLC, Term Loan A, (ICE LIBOR USD 3 Month + 1.00%), 1.93%, 03/15/2024 (u) (aa)		750		743


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)			VALUE($)
Loan Assignments — continued
Internet — continued
MH Sub I LLC, 2020 June New Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 09/13/2024 (aa)		1,386			1,303
MH Sub I LLC, 2021 Replacement Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 6.25%), 7.92%, 02/23/2029 (aa)		109			102
MH Sub I LLC, Amendment No. 2 Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 09/13/2024 (aa)		—	(h)		—	(h)
Proofpoint, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 3.25%), 4.82%, 08/31/2028 (u) (aa)		2,024			1,877
Uber Technologies, Inc., 2021 Incremental Term Loan, (ICE LIBOR USD 3 Month + 3.50%), 5.07%, 04/04/2025 (u) (aa)		1,081			1,034


					6,319

Media — 0.2%
Charter Communications Operating LLC, Term B-1 Loan, (ICE LIBOR USD 1 Month + 1.75%), 3.42%, 04/30/2025 (u) (aa)		865			840
Diamond Sports Group LLC, Term Loan (First Lien), (CME Term SOFR 3 Month + 8.00%), 9.40%, 05/25/2026 (aa)		560			557
Diamond Sports Group LLC, Term Loan (Second Lien), (CME Term SOFR 1 Month + 3.25%), 4.43%, 08/24/2026 (aa)		494			115
DIRECTV Financing LLC, Closing Date Term Loan, (ICE LIBOR USD 1 Month + 5.00%), 6.67%, 08/02/2027 (u) (aa)		3,020			2,772
Nielsen Finance LLC, Class B-4 Term Loan, (ICE LIBOR USD 1 Month + 2.00%), 3.19%, 10/04/2023 (u) (aa)		542			539
Univision Communications, Inc., 2017 Replacement Repriced First-Lien Term Loan, (ICE LIBOR USD 1 Month + 2.75%), 4.42%, 03/15/2024 (u) (aa)		79			78


					4,901

Telecommunications — 0.5%
Cincinnati Bell, Inc., Term B-2 Loan, (SOFR 3 Month + 3.25%), 4.88%, 11/22/2028 (u) (aa)		488			463
Connect Finco Sarl, Amendment No. 1 Refinancing Term Loan, (Luxembourg), (ICE LIBOR USD 3 Month + 3.50%), 5.75%, 12/11/2026 (u) (aa)		608			558
Delta Topco, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 3.75%), 5.84%, 12/01/2027 (u) (aa)		1,866			1,685
Digicel International Finance Limited, Initial Term B Loan (First Lien), (Saint Lucia), (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 05/27/2024 (aa)		386			333


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Telecommunications — continued
Intelsat Jackson Holdings S.A., Term B Loan, (Luxembourg), (CME Term SOFR 6 Month + 4.25%), 4.92%, 02/01/2029 (u) (aa)		1,484		1,358
Intrado Corp., Initial Term B Loan, (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 10/10/2024 (u) (aa)		3,824		3,235
Intrado Corp., Incremental Term B-1 Loan, (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 10/10/2024 (aa)		1,324		1,122
Lumen Technologies, Inc., Term A Loan, (ICE LIBOR USD 1 Month + 2.00%), 3.67%, 01/31/2025 (aa)		773		751
MetroNet Systems Holdings LLC, 2021 Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 5.05%, 06/02/2028 (aa)		21		19
ViaSat, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 4.50%), 6.14%, 03/02/2029 (u) (aa)		1,355		1,259
Xplornet Communications, Inc., Refinancing Term Loan (First Lien), (Canada), (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 10/02/2028 (aa)		2,494		2,271
Zayo Group Holdings, Inc., Initial Dollar Term Loan, (ICE LIBOR USD 1 Month + 3.00%), 4.67%, 03/09/2027 (u) (aa)		3,185		2,927


				15,981

Total Communications				30,757

Consumer Cyclical — 0.5%
Airlines — 0.1%
AAdvantage Loyality IP Ltd., Initial Term Loan, (Cayman Islands), (ICE LIBOR USD 3 Month + 4.75%), 5.81%, 04/20/2028 (u) (aa)		2,676		2,548
Mileage Plus Holdings LLC, Initial Term Loan, (ICE LIBOR USD 3 Month + 5.25%), 7.31%, 06/21/2027 (aa)		830		818
United AirLines, Inc., Class B Term Loan, (ICE LIBOR USD 1 Month + 3.75%), 5.39%, 04/21/2028 (aa)		830		769


				4,135

Apparel — 0.1%
Crocs, Inc., Term Loan, (CME Term SOFR 3 Month + 3.50%), 4.62%, 02/20/2029 (u) (aa)		1,523		1,383

Auto Parts & Equipment — 0.0% (g)
Tenneco, Inc., Tranche A Term Loan, (ICE LIBOR USD 1 Month + 2.00%), 3.67%, 09/29/2023 (aa)		1,268		1,243


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Distribution/Wholesale — 0.0% (g)
BCPE Empire Holdings, Inc., Amendment No.3 Term Loan (First Lien), (CME Term SOFR 1 Month + 4.63%), 6.25%, 06/11/2026 (aa)		116		108

Entertainment — 0.0% (g)
Churchill Downs, Inc., Term B Facility Loan, (ICE LIBOR USD 1 Month + 2.00%), 3.67%, 12/27/2024 (aa)		997		950
Raptor Acquisition Corp., Term B Loan (First Lien), (Canada), (ICE LIBOR USD 3 Month + 4.00%), 6.10%, 11/01/2026 (aa)		201		189


				1,139

Lodging — 0.1%
Fertitta Entertainment LLC, Initial B Term Loan, (CME Term SOFR 1 Month + 4.00%), 5.53%, 01/27/2029 (u) (aa)		2,089		1,921
Four Seasons Holdings, Inc., Term Loan (First Lien) 2013, (Canada), (ICE LIBOR USD 1 Month + 2.00%), 3.67%, 11/30/2023 (u) (aa)		737		728
Hilton Worldwide Finance LLC, Refinanced Series B-2 Term Loan, (ICE LIBOR USD 1 Month + 1.75%), 3.37%, 06/22/2026 (u) (aa)		306		294
Resorts World Las Vegas LLC, Term A Facility Loan, (ICE LIBOR USD 1 Month + 1.50%), 3.17%, 04/16/2024 (u) (aa)		500		480


				3,423

Retail — 0.2%
Foundation Building Materials, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 3.25%), 4.49%, 01/31/2028 (aa)		184		160
Great Outdoors Group LLC, Term B-2 Loan, (ICE LIBOR USD 1 Month + 3.75%), 2.37%, 03/06/2028 (u) (aa)		2,500		2,272
IRB Holding Corp., 2022 Replacement Term B Loan, (CME Term SOFR 1 Month + 3.00%), 4.24%, 12/15/2027 (u) (aa)		1,492		1,398
PetSmart LLC, Initial Term Loan, (ICE LIBOR USD 3 Month + 3.75%), 4.50%, 02/11/2028 (u) (aa)		202		190
SRS Distribution, Inc., 2022 Refinancing Term Loan, (CME Term SOFR 3 Month + 3.50%), 4.00%, 06/02/2028 (aa)		399		367
Staples, Inc., 2019 Refinancing New Term B-1 Loan, (ICE LIBOR USD 3 Month + 5.00%), 6.29%, 04/16/2026 (u) (aa)		156		135
White Cap Supply Holdings LLC, Initial Closing Date Term Loan, (SOFR 1 Month + 3.75%), 5.28%, 10/19/2027 (u) (aa)		1,596		1,466


				5,988

Total Consumer Cyclical				17,419


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Consumer Non-cyclical — 0.4%
Beverages — 0.0% (g)
Naked Juice LLC, Initial Loan (Second Lien), (CME Term SOFR 3 Month + 6.00%), 8.15%, 01/24/2030 (aa)		111		100
Naked Juice LLC, Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 5.40%, 01/24/2029 (aa)		838		778


				878

Commercial Services — 0.2%
CoreLogic, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.50%), 5.19%, 06/02/2028 (aa)		760		630
Element Materials Technology Group US Holdings, Inc., Delayed Draw Term Loan, (CME Term SOFR 3 Month + 4.25%), 4.61%, 04/12/2029 (u) (aa)		186		178
Element Materials Technology Group US Holdings, Inc., Term Loan B, (CME Term SOFR 3 Month + 4.25%), 5.00%, 04/12/2029 (u) (aa)		402		385
IRI Holdings, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 12/01/2025 (u) (aa)		209		206
PECF USS Intermediate Holding III Corp., Initial Term Loan, (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 12/15/2028 (aa)		2,175		1,958
Sabre GLBL, Inc., 2021 Other Term B-1 Loan, (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 12/17/2027 (aa)		114		107
Sabre GLBL, Inc., 2021 Other Term B-2 Loan, (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 12/17/2027 (aa)		182		170
Sotheby’s, 2021 Second Refinancing Term Loan, (ICE LIBOR USD 3 Month + 4.50%), 5.54%, 01/15/2027 (aa)		495		472
Trans Union LLC, 2019 Replacement Term B-5 Loan, (ICE LIBOR USD 1 Month + 1.75%), 3.42%, 11/16/2026 (u) (aa)		179		169
Verscend Holding Corp., Term B-1 Loan, (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 08/27/2025 (aa)		2,064		1,971


				6,246

Food — 0.0% (g)
Chobani LLC, 2020 New Term Loan, (ICE LIBOR USD 1 Month + 3.50%), 4.56%, 10/25/2027 (u) (aa)		104		94
JBS USA Lux S.A., New Term Loan, (Luxembourg), (ICE LIBOR USD 3 Month + 2.00%), 2.80%, 05/01/2026 (u) (aa)		223		214


				308


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Healthcare — Services — 0.1%
Envision Healthcare Corp., Initial Term Loan, (ICE LIBOR USD 3 Month + 3.75%), 4.81%, 10/10/2025 (d) (aa)		427		140
LifePoint Health, Inc., Term B Loan (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 11/16/2025 (aa)		192		179
Medical Solutions Holdings, Inc., Initial Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 7.00%), 9.88%, 11/01/2029 (aa)		430		396
Phoenix Newco, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 11/15/2028 (u) (aa)		993		930
Quorum Health Corp., Term Loan (Exit), (ICE LIBOR USD 3 Month + 7.75%), 8.75%, 04/29/2025 (aa)		611		407
WCG Purchaser Corp., Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 4.00%), 5.01%, 01/08/2027 (aa)		290		274


				2,326

Pharmaceuticals — 0.1%
Change Healthcare Holdings LLC, Closing Date Term Loan, (ICE LIBOR USD 1 Month + 2.50%), 4.17%, 03/01/2024 (u) (aa)		229		222
Gainwell Acquisition Corp., Term B Loan (First Lien), ICE LIBOR USD 3 Month + 4.00%), 6.25%, 10/01/2027 (u) (aa)		2,992		2,824


				3,046

Total Consumer Non-cyclical				12,804

Energy — 0.1%
Oil & Gas — 0.1%
Ascent Resources Utica Holdings LLC / Aru Finance Corp., Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 9.00%), 10.02%, 11/01/2025 (u) (aa)		2,716		2,847

Pipelines — 0.0% (g)
Cheniere Corpus Christi Holdings LLC, Tranche 2, (ICE LIBOR USD 3 Month + 1.75%), 0.00%, 06/30/2024 (u) (aa)		192		191
Freeport LNG investments, LLLP, Initial Term B Loan, (ICE LIBOR USD 3 Month + 3.50%), 4.56%, 12/21/2028 (u) (aa)		1,241		1,069


				1,260

Total Energy				4,107

Financial — 0.4%
Diversified Financial Services — 0.1%
Advisor Group Holdings, Inc., Term B-1 Loan, (ICE LIBOR USD 1 Month + 4.50%), 6.17%, 07/31/2026 (u) (aa)		499		474


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Diversified Financial Services — continued
Deerfield Dakota Holding LLC, 2021 Replacement Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 6.75%), 8.42%, 04/07/2028 (aa)		763		740
Deerfield Dakota Holding LLC, Initial Dollar Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 5.28%, 04/09/2027 (u) (aa)		696		650
Delos Finance S.a r.l., New Loan (2018), (Luxembourg), (ICE LIBOR USD 3 Month + 1.75%), 4.00%, 10/06/2023 (u) (aa)		337		333
Mercury Borrower, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 3.50%), 5.81%, 08/02/2028 (aa)		533		495
Mercury Borrower, Inc., Initial Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 6.50%), 7.50%, 08/02/2029 (aa)		668		621


				3,313

Insurance — 0.3%
Alliant Holdings Intermediate LLC, Initial Term Loan (2018), (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 05/09/2025 (u) (aa)		3,392		3,186
AssuredPartners, Inc., 2022 Term Loan, (CME Term SOFR 1 Month + 3.50%), 4.53%, 02/12/2027 (u) (aa)		1,007		937
Asurion LLC, New B-3 Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 5.25%), 6.92%, 01/31/2028 (aa)		364		309
Asurion LLC, New B-4 Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 5.25%), 6.92%, 01/20/2029 (u) (aa)		1,785		1,508
Asurion LLC, Replacement B-6 Term Loan, (ICE LIBOR USD 1 Month + 3.13%), 2.37%, 11/03/2023 (u) (aa)		2,071		1,986
Hub International Limited, B-3 Incremental Term Loan, (ICE LIBOR USD 3 Month + 3.25%), 4.35%, 04/25/2025 (aa)		186		176
Sedgwick Claims Management Services, Inc., 2020 Term Loan, (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 09/03/2026 (u) (aa)		586		564
Sedgwick Claims Management Services, Inc., Initial Term Loan, (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 12/31/2025 (aa)		319		299


				8,965

REITS — 0.0% (g)
Invitation Homes Operating Partnership LP, Term Loan A, (ICE LIBOR USD 1 Month + 1.00%), 2.60%, 01/31/2025 (aa)		1,552		1,536

Total Financial				13,814


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Government — 0.0% (g)
Regional (State/Province) — 0.0% (g)
Seminole Tribe of Florida, Inc.,The, 2018 Replacement Term B Loan, (ICE LIBOR USD 1 Month + 1.75%), 3.42%, 07/08/2024 (u) (aa)		123		122

Industrial — 0.5%
Aerospace/Defense — 0.1%
COBHAM ULTRA US CO-BORROWER LLC, Term Loan, (ICE LIBOR USD 1 Month + 3.75%), 4.25%, 11/17/2028 (u) (aa)		597		567
Propulsion, Term Loan, (Luxembourg), (CME Term SOFR 3 Month + 4.00%), 4.50%, 02/10/2029 (u) (aa)		595		562
Sequa Mezzanine Holdings LLC, Extended Term Loan (First Lien), (ICE LIBOR USD 3 Month + 6.75%), 8.30%, 11/28/2023 (aa)		150		149
Spirit Aerosystems, Inc., 2021 Refinancing Term Loan, (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 01/15/2025 (u) (aa)		980		953


				2,231

Building Materials — 0.1%
Chariot Buyer LLC, Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.50%), 4.00%, 11/03/2028 (u) (aa)		1,546		1,393

Engineering & Construction — 0.1%
Brand Energy & Infrastructure Services, Inc., Initial Term Loan, (ICE LIBOR USD 3 Month + 4.25%), 5.40%, 06/21/2024 (aa)		2,113		1,821
Brown Group Holdings LLC, Term Loan B2, (CME Term SOFR 3 Month + 3.75%), 4.25%, 06/08/2029 (u) (aa)		992		951
KKR Apple Bidco LLC, Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 2.75%), 4.42%, 09/22/2028 (aa)		600		565
KKR Apple Bidco LLC, Initial Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 5.75%), 7.42%, 09/21/2029 (aa)		96		91


				3,428

Environmental Control — 0.0% (g)
Filtration Group Corp., 2021 Incremental Term Loan, (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 10/21/2028 (u) (aa)		997		930

Machinery — Construction & Mining — 0.0% (g)
Vertiv Group Corp., Term B Loan, (ICE LIBOR USD 1 Month + 2.75%), 3.87%, 03/02/2027 (u) (aa)		497		461


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Machinery — Diversified — 0.1%
Husky Injection Molding Systems Ltd., Initial Term Loan, (Canada), (ICE LIBOR USD 3 Month + 3.00%), 5.88%, 03/28/2025 (u) (aa)		3,074		2,812
SPX Flow, Inc., Term Loan, (CME Term SOFR 1 Month + 4.50%), 6.13%, 04/05/2029 (u) (aa)		1,328		1,234


				4,046

Packaging & Containers — 0.1%
Charter Next Generation, Inc., Initial Term Loan (2021) (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 4.81%, 12/01/2027 (u) (aa)		997		937
Clydesdale Acquisition Holdings, Inc., Term B Loan (First Lien), (CME Term SOFR 1 Month + 4.25%), 5.88%, 04/13/2029 (u) (aa)		498		465
Mauser Packaging Solutions Holding Co., Initial Term Loan, (ICE LIBOR USD 1 Month + 3.25%), 4.31%, 04/03/2024 (u) (aa)		1,811		1,700


				3,102

Shipbuilding — 0.0% (g)
MHI Holdings LLC, Initial Term Loan, (ICE LIBOR USD 3 Month + 5.00%), 7.25%, 09/21/2026 (aa)		459		437

Transportation — 0.0% (g)
AIT Worldwide Logistics Holdings, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 4.75%), 5.72%, 04/06/2028 (aa)		399		360
XPO Logistics, Inc., Refinancing Term Loan (2018), (ICE LIBOR USD 1 Month + 1.75%), 2.87%, 02/24/2025 (u) (aa)		500		476


				836

Trucking & Leasing — 0.0% (g)
Drive Chassis Holdco LLC, 2021 Refinancing Term B Loan (Second Lien), (ICE LIBOR USD 3 Month + 6.75%), 7.74%, 04/10/2026 (u) (aa)		125		123

Total Industrial				16,987

Technology — 1.3%
Computers — 0.3%
Magenta Buyer LLC, Initial Term Loan (First Lien), (ICE LIBOR USD 3 Month + 5.00%), 6.23%, 07/27/2028 (aa)		2,456		2,200
Magenta Buyer LLC, Initial Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 8.25%), 9.48%, 07/27/2029 (aa)		491		447
McAfee Corp., Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 4.00%), 5.15%, 03/01/2029 (u) (aa)		2,000		1,815


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Computers — continued
Peraton Corp., Term B Loan (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 02/01/2028 (u) (aa)		4,229		3,962
Tempo Acquisition LLC, Initial Term B-1 Loan, (CME Term SOFR 1 Month + 3.00%), 4.03%, 08/31/2028 (u) (aa)		489		463


				8,887

Semiconductors — 0.0% (g)
MKS Instruments, Inc., Term Loan, (ICE LIBOR USD 3 Month + 2.25%), 3.49%, 10/20/2028 (u) (aa)		383		366

Software — 1.0%
Ascend Learning LLC, Initial Term Loan (2021) (First Lien), (ICE LIBOR USD 3 Month + 3.50%), 4.56%, 12/11/2028 (u) (aa)		948		873
Ascend Learning LLC, Initial Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 5.75%), 7.42%, 12/10/2029 (aa)		458		419
athenahealth Group, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.50%), 5.01%, 02/15/2029 (aa)		1,889		1,734
Banff Guarantor, Inc., Initial Term Loan (Second Lien), (ICE LIBOR USD 1 Month + 5.50%), 7.17%, 02/27/2026 (u) (aa)		1,695		1,588
Boxer Parent Co., Inc., 2021 Replacement Dollar Term Loan, (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 10/02/2025 (u) (aa)		1,771		1,646
Camelot U.S. Acquisition 1 Co., Amendment No. 2 Incremental Term Loan, (ICE LIBOR USD 1 Month + 3.00%), 4.67%, 10/30/2026 (u) (aa)		1,495		1,407
Central Parent, Inc., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.50%), 5.25%, 07/06/2029 (u) (aa)		1,208		1,139
Dun & Bradstreet Corp., The, 2022 Incremental Term B-2 Loan, (CME Term SOFR 1 Month + 3.25%), 4.75%, 01/18/2029 (u) (aa)		1,496		1,393
EP Purchaser LLC, Closing Date Term Loan (First Lien), (ICE LIBOR USD 3 Month + 3.50%), 5.75%, 11/06/2028 (u) (aa)		490		465
Epicor Software Corp., Term C Loan, (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 07/30/2027 (aa)		500		470
Genesys Cloud Services Holdings I LLC, Initial Dollar Term Loan (2020), (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 12/01/2027 (u) (aa)		1,993		1,900
Helios Software Holdings, Inc., Initial Dollar Term Loan (2021), (CME Term SOFR 3 Month + 3.75%), 5.95%, 03/11/2028 (aa)		407		373


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

Software — continued
Misys Limited, Dollar Term Loan (First Lien), (United Kingdom), (ICE LIBOR USD 3 Month + 3.50%), 4.74%, 06/13/2024 (aa)		2,007		1,805
Misys Limited, Dollar Term Loan (Second Lien), (United Kingdom), (ICE LIBOR USD 3 Month + 7.25%), 8.49%, 06/13/2025 (aa)		670		572
Planview Parent, Inc., Closing Date Loan (Second Lien), (ICE LIBOR USD 1 Month + 7.25%), 8.92%, 12/18/2028 (aa)		180		171
Polaris Newco LLC, Dollar Term Loan (First Lien), (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 06/02/2028 (u) (aa)		1,515		1,396
Project Alpha Intermediate Holding, Inc., 2021 Refinancing Term Loan, (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 04/26/2024 (aa)		223		213
RealPage, Inc., Initial Loan (Second Lien), (ICE LIBOR USD 3 Month + 6.50%), 8.75%, 04/23/2029 (u) (aa)		1,000		948
RealPage, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.00%), 4.67%, 04/24/2028 (u) (aa)		1,927		1,777
Skillsoft Finance II, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 5.25%), 6.19%, 07/14/2028 (u) (aa)		2,443		2,262
Sophia, L.P., Term Loan B (First Lien), (ICE LIBOR USD 3 Month + 3.25%), 5.50%, 10/07/2027 (u) (aa)		3,509		3,266
Sovos Compliance LLC, First Lien Delayed Draw Term Loan, (ICE LIBOR USD 12 Month + 4.50%), 6.15%, 08/11/2028 (aa)		94		88
Sovos Compliance LLC, Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 4.50%), 6.17%, 08/11/2028 (aa)		540		507
TIBCO Software, Inc., Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 7.25%), 8.31%, 03/03/2028 (aa)		455		445
UKG, Inc., 2021 Incremental Term Loan (Second Lien), (ICE LIBOR USD 3 Month + 5.25%), 6.21%, 05/03/2027 (u) (aa)		1,253		1,153
UKG, Inc., Initial Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 05/04/2026 (u) (aa)		2,301		2,169
Veritas US, Inc., Dollar Term B-2021 Loan, (ICE LIBOR USD 3 Month + 5.00%), 7.25%, 09/01/2025 (aa)		472		386
VMware, Inc., Three Year Loan, (ICE LIBOR USD 1 Month + 0.75%), 1.87%, 11/01/2024 (u) (aa)		1,598		1,590


				32,155

Total Technology				41,408


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)
Loan Assignments — continued
Utilities — 0.0% (g)
Electric — 0.0% (g)
Heritage Power LLC, Term Loan, (ICE LIBOR USD 3 Month + 6.00%), 7.00%, 07/30/2026 (aa)		1,416		543

Total Loan Assignments (Cost $151,617)				143,264

	NUMBER OF RIGHTS
Rights — 0.0%
Communications — 0.0%
Telecommunications — 0.0%
Intelsat Jackson Holdings SA, expiring, 12/31/2049 (a) (bb) (cc)		18		—

Total Rights (Cost $–)				—

	NUMBER OF WARRANTS
Warrant — 0.0% (g)
Basic Materials — 0.0% (g)
Chemicals — 0.0% (g)
TPC Group, Inc., expiring 12/31/2049 (a) (d) (bb) (cc)		806		—	(h)

Total Warrant (Cost $–(h))				—	(h)

	PRINCIPAL AMOUNT($)
Short-Term Investments — 10.1%
Corporate Bond — 0.1%
Future Diamond Ltd., (British Virgin Islands), Reg. S, 4.25%, 09/22/2022		1,800		1,658


Time Deposits — 8.7%
Barclays SA, 0.91%, 07/01/2022		340		340
BNP Paribas SA,
(1.20%), 07/01/2022	CHF	1		1
0.52%, 07/01/2022	GBP	240		293
0.91%, 07/01/2022		124,001		124,001
Citibank NA,
(0.78%), 07/01/2022	EUR	1,267		1,328
0.91%, 07/01/2022		83,053		83,053
Sumitomo Mitsui Trust Bank Ltd., 0.91%, 07/01/2022		74,860		74,860

Total Time Deposits				283,876

U.S. Government Agency Security — 0.2%
FHLB DNs, Zero Coupon, 08/15/2022		5,900		5,887

U.S. Treasury Obligations — 1.1%
U.S. Treasury Bill,
Zero Coupon, 07/19/2022		3,700		3,698
Zero Coupon, 08/25/2022 (ii)		700		698


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)		VALUE($)

U.S. Treasury Obligations — continued
Zero Coupon, 09/29/2022		32,000		31,869

Total U.S. Treasury Obligations				36,265

Total Short-Term Investments (Cost $327,669)				327,686


Total Investments — 101.8% (Cost — $3,630,279)*				3,314,293

Liabilities in Excess of Other Assets — (1.8)%				(57,066	)


NET ASSETS — 100.0%			$	3,257,227

Percentages indicated are based on net assets.


Bofa		— Bank of America
CDX		— Credit Default Swap Index
CLO		— Collateralized Loan Obligations
CMT		— Constant Maturity Treasury
DN		— Discount Notes
EURIBOR		— Euro Interbank Offered Rate
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
ICE		— Intercontinental Exchange
IO		— Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
LIBOR		— London Interbank Offered Rate
Reg. S		— Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration.
REIT		— Real Estate Investment Trust
REMICS		— Real Estate Mortgage Investment Conduit
Rev.		— Revenue
SOFR		— Secured Overnight Financing Rate
(a)		— Non-income producing security.
(d)		— Defaulted Security. Security has not paid its last interest payment and/or interest is not being accrued.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(f)		— Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.


(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(o)		— Loan assignments are presented by obligor. Each Series or loan tranche underlying each obligor may have varying terms.
(t)		— The date shown represents the earliest of the next put date, next demand date or final maturity date.
(u)		— All or a portion of the security is unsettled as of June 30, 2022. Unless otherwise indicated, the coupon rate is undetermined.
(v)		— Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed.
(x)		— Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of June 30, 2022.
(z)		— Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022.
(aa)		— Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
(ee)		— Approximately $11,188,880 of these investments are restricted as collateral for swaps to Citigroup Clearing.
(ff)		— Approximately $1,010,331 of these investments are restricted as collateral for futures to Citigroup Global Markets, Inc.
(ii)		— Approximately $103,764 of these investments are restricted as collateral for forwards to Citibank NA.
*		— The cost of securities is substantially the same for federal income tax purposes.
CHF		— Swiss Franc
EUR		— Euro
GBP		— British Pound
USD		— United States Dollar

Six Circles Trust (the “Trust”) was formed on November 8, 2017, as a Delaware statutory trust, pursuant to a Declaration of Trust dated November 8, 2017, as amended and restated June 12, 2018, and further amended to add fund series on September 21, 2018, November 19, 2019, and April 13, 2020, and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

The following are seven separate series of the Trust (each, a “Fund” and collectively, the “Funds”) covered by this report. Each Fund currently offers one class of shares.

The investment objective of each of the Six Circles Ultra Short Duration Fund and the Six Circles Tax Aware Ultra Short Duration Fund is to generate current income consistent with capital preservation.

The investment objective of each of the Six Circles U.S. Unconstrained Equity Fund and the Six Circles International Unconstrained Equity Fund is to provide capital appreciation.

The investment objective of the Six Circles Global Bond Fund and the Six Circles Credit Opportunities Fund is to provide total return.

The investment objective of the Six Circles Tax Aware Bond Fund is to provide after-tax total return.

J.P. Morgan Private Investments Inc. (“JPMPI”), an indirect, wholly-owned subsidiary of JPMorgan Chase & Co. (“JPMorgan”), acts as the Funds’ investment adviser (the “Adviser”). The Adviser has engaged certain Sub-Advisers to manage the assets of the Funds.

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements. The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 — Investment Companies, which is part of U.S. generally accepted accounting principles (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

A. Valuation of Investments — The valuation of investments is in accordance with GAAP and the Funds’ valuation policies set forth by and under the supervision and responsibility of the Board of Trustees (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at unadjusted quoted prices and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

The Board has designated the Adviser as the Valuation Designee, and the Adviser uses the Six Circles Funds Valuation Committee (“VC”), comprised of officers of the Funds and other personnel of the Adviser, to assist the Board with the oversight and monitoring of the valuation of the Funds’ investments. The VC oversees and carries out policies and procedures for the valuation of investments held by the Funds. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events and pricing vendor due diligence. The VC, through the Adviser, is responsible for assessing the potential impacts to the fair values on an ongoing basis, and discussing this on at least a quarterly basis with the Board.

A market-based approach is primarily used to value the Funds’ investments for which market quotations are readily available and which are generally valued at their current market value. Other securities and assets, including securities for which market quotations are not readily available, market quotations are determined not to be reliable, or whose value has been materially affected by events occurring after the close of trading on the exchange or market on which the security is principally traded but before a Fund’s net asset value (“NAV”) is calculated, are valued by approved pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”) or may be internally fair valued using methods set forth by the valuation policies approved by the Board. The valuation may include related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment in order to determine the fair value of the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based on current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used, had a ready market for the investments existed, and such differences could be material.

Equity securities listed on a North American, Central American, South American or Caribbean (“Americas”) securities exchange are generally valued at the last sale price or official market closing price on the primary exchange on which the security is principally traded that is reported before the time when the net assets values of the Funds are calculated on a valuation date. The Funds calculate their NAV as of 4 p.m. Eastern time each day the New York Stock Exchange (NYSE) is open for trading.

Foreign equity securities are valued as of the close of trading on the stock exchange on which the security is primarily traded, or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. Eastern time on the day that the value of the security is determined. Generally foreign equity securities, as well as certain derivatives with equity reference obligations, are valued by applying international fair value factors provided by approved Pricing Services.

The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAVs are calculated. The fair valued securities are converted at the exchange rates available at 4 p.m. Eastern time.

Fixed income securities are valued based on prices received from Pricing Services. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, Pricing Services may consider a variety of inputs and factors, including, but not limited to proprietary models that may take into account market transactions in securities with comparable characteristics, yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, underlying collateral and estimated cash flows.

Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots.

Shares of exchange-traded funds (“ETFs”) are generally valued at the last sale price on the exchange on which the ETF is principally traded. Shares of open-end investment companies are valued at their respective NAVs.

Exchange-traded futures contracts and options are generally valued on the basis of available market quotations. Swaps, forward foreign currency exchange contracts and over the counter options are valued utilizing market quotations from approved Pricing Services.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Funds’ investments are summarized into the three broad levels listed below.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following tables represent each valuation input as presented on the Schedules of Portfolio Investments (“SOIs”) (amounts in thousands):

There were no significant transfers into or out of level 3 for the period ended June 30, 2022 for the Funds.

B. Restricted Securities — Certain securities held by the Funds may be subject to legal or contractual restrictions on resale. Restricted securities generally are resold in transactions exempt from registration under the Securities Act of 1933 (the “Securities Act”). Disposal of these securities may involve time-consuming negotiations and expense. Prompt sale at the current valuation may be difficult and could adversely affect the net asset value of the Funds.

C. When-Issued Securities, Delayed Delivery Securities and Forward Commitments — The Funds may purchase when-issued securities, including To Be Announced (“TBA”) securities, and enter into contracts to purchase or sell securities for a fixed price that may be settled a month or more after the trade date, or purchase delayed delivery securities which generally settle seven days after the trade date. When-issued securities are securities that have been authorized, but not issued in the market. A forward commitment involves entering into a contract to purchase or sell securities for a fixed price at a future date that may be settled a month or more after the trade date. A delayed delivery security is agreed upon in advance between the buyer and the seller of the security and is generally delivered beyond seven days of the agreed upon date. The purchase of securities on a when-issued, delayed delivery or forward commitment basis involves the risk that the value of the security to be purchased declines before the settlement date. The sale of securities on a forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. The Funds may be exposed to credit risk if the counterparty fails to perform under the terms of the transaction. Interest income for securities purchased on a when-issued, delayed delivery or forward commitment basis is not accrued until the settlement date.

D. Loan Assignments — The Six Circles Credit Opportunities Fund invests in debt instruments that are interests in amounts owed to lenders or lending syndicates (a “Lender”) by corporate, governmental or other borrowers (a “Borrower”). A loan is typically originated, negotiated and structured by a U.S. or foreign bank, insurance company or other financial institution (the “Agent”) for a group of loan investors (“Loan Investors”). The Agent administers the terms of the loan, as specified in the loan agreement. When a Fund purchases a loan assignment, the Fund has direct rights against the Borrower on a loan, provided, however, the Fund’s rights may be more limited than the lender from which it acquired the assignment and the Fund may be able to enforce its rights only through the Agent. As a result, the Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower (“Intermediate Participants”). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, the Fund may incur certain costs and delays in realizing payment or may suffer a loss of principal and/or interest. The Adviser or Sub-Advisers may have access to material non-public information regarding the Borrower.

Certain loan assignments are also subject to the risks associated with high yield securities described under Note 5.

Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. The unrealized appreciation/depreciation from unfunded commitments is reported on the Statements of Assets and Liabilities, if any. As of June 30, 2022, the Six Circles Credit Opportunities Fund had the following loan commitments outstanding in which all or a portion of the commitment was unfunded (amounts in thousands):

E. Derivatives — The Funds used derivative instruments including options, futures contracts, forward foreign currency exchange contracts and swaps, in connection with their respective investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures as well as credit and spread volatility.

The Funds may be subject to various risks from the use of derivatives including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties’ failure to perform under contract terms; liquidity risk related to the lack of a liquid market for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Funds’ risk of loss associated with these instruments may exceed their value, as recorded on the Statements of Assets and Liabilities.

The Funds are party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (“ISDA agreements”). The Funds’ ISDA agreements, which are separately negotiated by the Sub-Advisers, with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Funds in the event the Funds’ net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Funds to exercise rights, to the extent not otherwise waived, against a counterparty (e.g., decline in a counterparty’s credit rating below a specified level). Such rights for both a counterparty and the Funds often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty, which could have an adverse effect on the Funds. The ISDA agreements give the Funds and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable with collateral posted to a segregated account by one party to the other.

Counterparty credit risk may be mitigated to the extent a counterparty posts collateral for mark to market gains to the Fund.

(1) Options — The Six Circles Global Bond Fund purchased and sold (“wrote”) put and call options on securities to manage and hedge interest rate risks within its portfolio and also to gain long or short exposure to the underlying instrument. A purchaser of a put option has the right, but not the obligation, to sell the underlying instrument at an agreed upon price (“strike price”) to the option seller. A purchaser of a call option has the right, but not the obligation, to purchase the underlying instrument at the strike price from the option seller.

Options Purchased — Premiums paid by the Funds for options purchased are included on the Statements of Assets and Liabilities as Options purchased. The option is adjusted daily to reflect the current market value of the option and the change is recorded as Change in net unrealized appreciation/depreciation on options purchased on the Statements of Operations. If the option is allowed to expire, the Funds will lose the entire premium they paid and record a realized loss for the premium amount. Premiums paid for options purchased which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain (loss) or cost basis of the underlying investment.

Options Written — Premiums received by the Funds for options written are included on the Statements of Assets and Liabilities as a liability. The amount of the liability is adjusted daily to reflect the current market value of the option written and the change in market value is recorded as Change in net unrealized appreciation/depreciation on options written on the Statements of Operations. Premiums received from options written that expire are treated as realized gains. If a written option is closed, the Funds record a realized gain or loss on options written based on whether the cost of the closing transaction exceeds the premium received. If a call option is exercised by the option buyer, the premium received by the Funds is added to the proceeds from the sale of the underlying security to the option buyer and compared to the cost of the closing transaction to determine whether there has been a realized gain or loss. If a put option is exercised by an option buyer, the premium received by the option seller reduces the cost basis of the purchased security.

Written uncovered call options subject the Funds to unlimited risk of loss. Written covered call options limit the upside potential of a security above the strike price. Written put options subject the Funds to risk of loss if the value of the security declines below the exercise price minus the put premium.

The Funds are not subject to credit risk on options written as the counterparty has already performed its obligation by paying the premium at the inception of the contract.

(2) Futures Contracts — The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund used interest rate futures to manage interest rate risks associated with portfolio investments. The Six Circles U.S. Unconstrained Equity Fund and Six Circles International Unconstrained Equity Fund used index futures to gain or reduce exposure to certain countries or regions, to maintain liquidity or minimize transaction costs.

deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Change in net unrealized appreciation/depreciation on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the SOIs and cash deposited is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities. Futures contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The use of futures contracts may expose the Funds to interest rate and equity price risks. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Fund to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Fund to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent the liquidation of positions.

The Funds’ futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

(3) Forward Foreign Currency Exchange Contracts — The Six Circles International Unconstrained Equity Fund, Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund may be exposed to foreign currency risks associated with some or all of the portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. The Funds also bought forward foreign currency exchange contracts to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. Dollars without the delivery of foreign currency. Forward contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The values of the forward foreign currency exchange contracts are adjusted daily based on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation/depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed. The Fund also records a realized gain or loss when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty upon settlement.

The Funds’ forward foreign currency exchange contracts may be subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions). The Funds may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.

(4) Swaps — The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, and the Six Circles Credit Opportunities Fund engaged in various swap transactions, including interest swaps, to manage interest rate (e.g., duration, yield curve) risks within their respective portfolios. The Funds also used swaps as alternatives to direct investments. Swap transactions are negotiated contracts over the counter (“OTC swaps”) between a fund and a counterparty or centrally cleared (“centrally cleared swaps”) with a central clearinghouse through a Futures Commission Merchant (“FCM”), to exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap contracts outstanding at period end, if any, are listed after each Fund’s SOI.

Upfront payments made and/or received are recorded as assets or liabilities, respectively on the Statements of Assets and Liabilities and amortized over the term of the swap. The value of an OTC swap agreement is recorded as either an asset or a liability on the Statements of Assets and Liabilities at the beginning of the measurement period.

Upon entering into a centrally cleared swap, the Funds are required to deposit with the FCM cash or securities, which is referred to as initial margin deposit. Securities deposited as initial margin are designated on the SOIs and cash deposited is recorded on the Statements of Assets and Liabilities. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a variation margin receivable or payable on the Statements of Assets and Liabilities. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as Change in net unrealized appreciation/depreciation on the Statements of Operations. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.

The central clearing house acts as the counterparty to each centrally cleared swap transaction, therefore credit risk is limited to the failure of the clearing house.

The Funds may be required to post or receive collateral in the form of cash or securities based on the net value of the Fund’s outstanding OTC swap contracts with the counterparty. Daily movement of collateral is subject to minimum threshold amounts. Collateral posted by the Funds is held in a segregated account at the Funds’ custodian bank. Collateral received by the Funds is held in escrow in segregated accounts maintained by Brown Brothers Harriman & Co.

The Funds’ swap contracts (excluding centrally cleared swaps) are subject to master netting arrangements.

Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund and Six Circles Credit Opportunities Fund entered into credit default swaps to simulate long and short bond positions or to take an active long or short position with respect to the likelihood of a default or credit event by the issuer of the underlying reference obligation.

The underlying reference obligation may be a single issuer of corporate or sovereign debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.

Credit default swaps involve one party, the protection buyer, making a stream of payments to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.

If a credit event occurs, the Funds, as protection sellers, would be obligated to make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively adds leverage to a Fund’s portfolio up to the notional amount of swap agreements. The notional amount represents the maximum potential liability under a contract and is not reflected on the Statements of Assets and Liabilities. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations; upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with the identical reference obligation.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund entered into interest rate swap contracts to manage fund exposure to interest rates and/or to preserve or generate a return on a par-

ticular investment or portion of its portfolio. These are agreements between counterparties to exchange periodic payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified interest rate while the other is typically a fixed interest rate.

The following tables present the value of derivatives held as of June 30, 2022, by their primary underlying risk exposure and respective location on the Statements of Assets and Liabilities (amounts in thousands):

The following tables present the Funds’ gross derivative assets and liabilities by counterparty net of amounts available for offset under netting arrangements and any related collateral received or posted by the Fund as of June 30, 2022 (amounts in thousands):

The following tables present the effect of derivatives on the Statements of Operations for the period ended June 30, 2022, by primary underlying risk exposure (amounts in thousands):

The table below discloses the volume of the Funds’ options, futures contracts, forward foreign currency exchange contracts and swaps activity during the period ended June 30, 2022 (amounts in thousands, except number of contracts). Please refer to the tables in the Summary of Derivative Information for derivative-related gains and losses associated with volume activity (amounts in thousands).

F. Foreign Currency Translation — The books and records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the prevailing exchange rates of such currencies against the U.S. dollar. The market value of investment securities and other assets and liabilities are translated at the exchange rate as of the valuation date. Purchases and sales of investment securities, income and expenses are translated at the exchange rate prevailing on the respective dates of such transactions.

The Funds do not isolate the effect of changes in foreign exchange rates from changes in market prices on securities held. Accordingly, such changes are included within the Change in net unrealized appreciation/depreciation on investments on the Statements of Operations.

Reported realized foreign currency gains and losses arise from the disposition of foreign currency. Currency gains or losses may be realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on each Fund’s books on the transaction date and the U.S. dollar equivalent of the amounts actually received or paid. These reported realized foreign currency gains and losses are included in Net realized gain (loss) on foreign currency transactions on the Statements of Operations. Unrealized foreign currency gains and losses arise from changes (due to changes in exchange rates) in the value of foreign currency and other assets and liabilities denominated in foreign currencies, which are held at period end and are included in Change in net unrealized appreciation/depreciation on foreign currency translations on the Statements of Operations.

G. Short Sales — The Funds may engage in short sales as part of their normal investment activities. In a short sale, the Funds sell securities they do not own in anticipation of a decline in the market value of those securities. In order to deliver securities to the purchaser, the Funds borrow securities from a broker. To close out a short position, the Funds deliver the same securities to the broker.

The Funds are required to pledge cash or securities to the broker as collateral for the securities sold short. Collateral requirements are calculated daily based on the current market value of the short positions. Cash collateral deposited with the custodian is recorded as Restricted cash on the Statements of Assets and Liabilities. Securities segregated as collateral are denoted on the SOIs. The Funds may receive or pay the net of the following amounts: (i) a portion of the income from the investment of cash collateral; (ii) the broker’s fee on the borrowed securities (calculated daily based upon the market value of each borrowed security and a variable rate that is dependent on availability of the security); and (iii) a financing charge for the difference between the market value of the short position and cash collateral deposited with the broker. The net income or fee is reported as Interest income or Interest expense, respectively, on securities sold short on the Statements of Operations. The Funds are obligated to pay the broker dividends declared on short positions when a position is open on the record date. Dividends on short positions are reported on ex-dividend date on the Statements of Operations as Dividend expense on securities sold short.

Liabilities for securities sold short are reported at market value on the Statements of Assets and Liabilities and the change in market value is recorded as Change in net unrealized appreciation (depreciation) on the Statements of Operations. Short sale transactions may result in unlimited losses as the security’s price increases and the short position loses value. There is no upward limit on the price a borrowed security could attain. The Funds are also subject to risk of loss if the broker were to fail to perform its obligations under the contractual terms. The Funds will record a realized loss if the price of the borrowed security increases between the date of the short sale and the date on which the Funds replace the borrowed security. The Funds will record a realized gain if the price of the borrowed security declines between those dates.

H. Security Transactions, Investment Income and Expense Allocation — Securities transactions are recorded on a trade date basis. Realized gain and loss from securities transactions are recorded on an identified cost basis for financial reporting and federal income tax purposes. Interest income is determined on the basis of coupon interest accrued using the effective interest method which adjusts for amortization of premiums and accretion of discounts. Dividend income, net of foreign taxes withheld, if any, is recorded on the ex-dividend date or when the Fund first learns of the dividend. Non-cash dividends, if any, are recorded on the ex-dividend date or corporate action date at fair value. Six Circles Credit Opportunities Fund may receive income from investments in loan assignments and/or unfunded commitments, including amendment fees, consent fees and commitment fees. These fees are recorded as income when received by the Fund. These amounts are included in Interest income on the Statements of Operations.

Distributions received from certain investments held by the Funds may be comprised of dividends, realized gains and returns of capital. The Funds originally estimate the expected classification of such payments. The amounts may subsequently be reclassified upon receipt of information from the issuer.

The Funds are charged for those expenses of the Trust that are directly attributable to each Fund. Expenses that are not directly attributable to a Fund are typically allocated among the Funds in proportion to their respective net assets.

I. Repurchase Agreements — The Funds may invest in repurchase agreements, which are short term investments whereby the Funds acquire ownership of a debt security and the seller agrees to repurchase the security at a future date at a specified price. When entering into repurchase agreements, it is the Funds’ policy that their custodian take possession of the underlying collateral securities, the market value of which, at all times, shall equal at least 100% of the principal amount of the repurchase transaction. The repurchase agreements further authorize the Funds to demand additional collateral in the event that the dollar value of the collateral falls below 100%. The Funds will make payments for such securities only upon physical delivery or upon evidence of book entry transfer to the account of the custodian.

Repurchase Agreements outstanding at period end, if any, are listed after each Fund’s SOI.

The Funds’ repurchase agreements are not subject to master netting arrangements.

J. Reverse Repurchase Agreements — In a reverse repurchase agreement, a Fund delivers a security in exchange for cash to a financial institution, the counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed upon price and date. In an open maturity reverse repurchase agreement, there is no pre-determined repurchase date and the agreement can be terminated by the Fund or counterparty at any time. A Fund is entitled to receive principal and interest payments, if any, made on the security delivered to the counterparty during the term of the agreement. Cash received in exchange for securities delivered plus accrued interest payments to be made by a Fund to counterparties are reflected as a liability on the Statements of Assets and Liabilities. Interest payments made by a Fund to counterparties are recorded as a component of interest expense on the Statements of Operations. A Fund will segregate assets determined to be liquid by the Adviser or will otherwise cover its obligations under reverse repurchase agreements.

Reverse repurchase agreements outstanding at period end, if any, are listed after each Fund’s SOI.

Six Circles Global Bond Fund had no average amount of borrowings outstanding during the period ended June 30, 2022.

K. Federal Income Tax — Each Fund is treated as a separate taxable entity for Federal income tax purposes. Each Fund’s policy is to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to regulated investment companies. Each Fund intends to distribute to shareholders, substantially all of its distributable net investment income and net realized capital gains on investments. Accordingly, no provision for Federal income tax is necessary.

The Funds follow the provisions of FASB Codification Section 740 (“ASC Section 740”) “Accounting for Uncertainty in Income Taxes” which clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return. ASC Section 740 sets forth a threshold for financial statement recognition, measurement and disclosure of tax positions taken or expected to be taken on a tax return. The Funds are required to recognize the tax effects of certain tax positions under a “more likely than not” standard, that based on their technical merits, have more than 50 percent likelihood of being sustained upon examination. Management has analyzed the tax positions taken on the Funds’ federal income tax returns for all open years, and has concluded that no provision for federal income tax is required in the Funds’ financial statements. At June 30, 2022, the Funds did not have any uncertain tax benefits that require recognition, de-recognition or disclosure. The Funds’ federal, state and local income and federal excise tax returns for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

L. Foreign Tax — The Funds may be subject to foreign taxes on income, gains on investments or currency purchases/repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests. When capital gain tax is determined to apply, the Funds record an estimated deferred tax liability in an amount that would be payable if the securities were disposed of on the valuation date.

M. Distributions to Shareholders — Distributions to shareholders are recorded on the ex-dividend date. Distributions from net investment income and net realized capital gains are generally declared and paid according to the following schedule:

Income and capital gain distributions will be determined in accordance with federal income tax regulations which may differ from GAAP. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character.

Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes. These differences will reverse at some time in the future. Differences in classification may also result from the treatment of short- term gains as ordinary income for tax purposes. As a result, income dividends and capital gain distributions declared during a fiscal period may differ significantly from the net investment income (loss) and realized gain (loss) reported on the Fund financial statements presented under GAAP.

Distributions classified as a tax basis return of capital, if any, are reflected on the Statement of Changes in Net Assets and have been recorded to paid-in capital.

N. Sale-buyback Transactions — A sale-buyback financing transaction consists of a sale of a security by a Fund to a counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed-upon price and date. The Fund is not entitled to receive principal and interest payments, if any, made on the security sold to the counterparty during the term of the agreement. The agreed-upon proceeds for securities to be repurchased by the Fund are reflected in the payable for investments purchased on the Statements of Assets and Liabilities. The Fund will recognize net income represented by the price differential between the price received for the transferred security and the agreed-upon repurchase price. This is commonly referred to as the ‘price drop’. A price drop consists of (i) the foregone interest and inflationary income adjustments, if any, the Fund would have otherwise received had the security not been sold and (ii) the negotiated financing terms between the Fund and

counterparty. In periods of increased demand for the security, the Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund. The Fund will segregate assets determined to be liquid by the Sub-adviser or will otherwise cover its obligations under sale-buyback transactions. Sale-buyback transactions are governed by Master Securities Forward Transaction Agreements (“Master Forward Agreements”), which are agreements between the Fund and select counterparties. The Master Forward Agreements maintain provisions for, among other things, transaction initiation and confirmation, payment and transfer, events of default, termination and maintenance of collateral. The market value of sale-buyback transactions as of period end, if any, is disclosed in the Fund’s Schedule of Investments.

Six Circles Global Bond Fund had no average amount of borrowings outstanding during the period ended June 30, 2022.

A. Investment Advisory Fees — The Adviser serves as the Funds’ investment adviser pursuant to an investment advisory agreement (the “Investment Advisory Agreement”). Under the terms of the Investment Advisory Agreement, the Adviser generally manages the Funds’ investments in accordance with the stated policies of each Fund, subject to the supervision of the Funds’ Board of Trustees. For the services provided to the Funds, the Adviser is entitled to a fee, accrued daily and paid monthly, at the annual rate of 0.25% of the average daily net assets of each Fund except Six Circles Credit Opportunities Fund. The fee for the Six Circles Credit Opportunities Fund is 0.75% of the average daily net assets.

The Adviser selects and oversees professional money managers (the “Sub-Advisers”) who are responsible for investing the assets of the Funds under sub-advisory agreements (the “Sub-Advisory Agreements”). Pursuant to each respective Sub-Advisory Agreement, the Adviser agrees to pay each Sub-Adviser a sub-advisory fee from its investment advisory fees. BlackRock Investment Management, LLC (“BlackRock”), BlueBay Asset Management (“BlueBay”), Insight North America LLC (“Insight”), Capital International, Inc. (“Capital Group”), Goldman Sachs Asset Management, L.P. (“Goldman”), Muzinich & Co. (“Muzinich”), Nuveen Asset Management, LLC (“Nuveen”) , Pacific Investment Management Company LLC (“PIMCO”), PGIM, Inc. (“PGIM”), Allspring Global Investments, LLC (“Allspring”), Federated Investment Management Company (“Federated”) and Lord Abbett & Co. LLC (“Lord Abbett”) currently serve as the Sub-Advisers to the Funds. The Sub-Advisers are paid a management fee by the Adviser pursuant to their individually negotiated Sub-Advisory Agreements.

On October 5, 2018, the Adviser entered into an agreement to allow Russell Investments Implementation Services, LLC (“Russell”) to provide stand-by interim sub-advisory services, as well as transition management services, for each Fund, to be utilized as needed in certain transitional circumstances involving a Fund Sub-Adviser. During the reporting period, the Funds have not allocated assets to Russell.

During the reporting period, the Advisor reduced the portion of the Credit Opportunities Fund allocated to Federated to zero, and, as of the expiration of the Fund’s Sub-advisory agreement with Federated on July 28, 2022, Federated will no longer serve as a Sub-Adviser to the Fund.

During the reporting period, an affiliate of the Adviser made a payment to the Six Circles Global Bond Fund of $9,408, relating to a trade error.

The Adviser waived Investment Advisory fees and/or reimbursed expenses as outlined in Note 3G and reflected on the Statement of Operations.

B. Administration and Accounting Fees — Pursuant to an Administrative Agency Agreement, Brown Brothers Harriman & Co. (the “Administrator”) provides certain administration and fund accounting services to the Funds.

The Administrator has entered into an agreement with State Street Corporation (“State Street”) under which State Street will acquire the Administrator’s Investor Services business; which includes its custody, fund accounting and administration, transfer agency, depositary, foreign exchange, trustee and securities lending services. The completion of the transaction is subject to customary closing conditions and regulatory approvals.

C. Distribution Fees — Pursuant to a Distribution Agreement, Foreside Fund Services, LLC (the “Distributor”), will serve as the Funds’ principal underwriter and acts as the agent of the Funds in connection with the continuous offering of shares of each Fund. The Distributor and its officers have no role in determining the investment policies or which securities are to be purchased or sold by the Funds. The Distributor does not receive compensation from the Funds, but instead is compensated by the Adviser for certain distribution-related expenses.

D. Custodian — Pursuant to a Custodian Agreement, Brown Brothers Harriman & Co. serves as the custodian (the “Custodian”) for each of the Funds and is responsible for holding portfolio securities and cash and maintaining the books of account and records of portfolio transactions.

E. Transfer Agent — Pursuant to a Transfer Agency and Service Agreement, DST Asset Manager Solutions, Inc. (the “Transfer Agent”) serves as each Fund’s transfer and dividend disbursing agent. The Transfer Agent is responsible for maintaining account records, detailing the ownership of Fund shares and for crediting income, capital gains and other changes in share ownership to shareholder accounts.

F. Offering Costs — Offering costs, including professional fees, printing fees and initial registration costs, have been amortized over a period not longer than twelve months from the date the Fund commenced operations.

G. Waivers and Reimbursements — The Adviser has contractually agreed through at least April 30, 2023, to waive any management fees that exceed the aggregate management fees the Adviser is contractually required to pay the Fund’s Sub-Advisers. Thereafter, this waiver will continue for subsequent one year terms unless terminated in accordance with its terms. Such waivers are not subject to reimbursement by the Fund. The Adviser has also contractually agreed through at least April 30, 2023, to reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and

expenses, if any, dividend and interest expenses related to short sales, brokerage fees, interest on borrowings, taxes, expenses related to litigation and potential litigation, and extraordinary expenses) exceed the following percentages of the average daily net assets of each Fund (the “Expense Cap”):

An expense reimbursement by the Fund’s Adviser is subject to repayment by the Fund only to the extent it can be made within thirty-six months following the date of such reimbursement by the Adviser. Repayment must be limited to amounts that would not cause the Fund’s operating expenses (taking into account any reimbursements or waiver by the Adviser and repayments by the Fund) to exceed the Expense Cap in effect at the time of the reimbursement by the Adviser or at the time of repayment by the Fund. This expense reimbursement is in effect through April 30, 2023, at which time the Adviser and/or its affiliates will determine whether to renew or revise it.

For the period ended June 30, 2022, there were no amounts reimbursed by the Adviser, nor were there amounts available for potential future recoupment by the Adviser.

H. Cross Trades — The Funds may participate in purchase and sale transactions with other Six Circles Funds. These cross trades are executed in accordance with procedures adopted by the Trust’s Board and comply with Rule 17a-7 of the 1940 Act, which require, among other things, that such cross trades be effected at the independent current market price of the security. During the period ended June 30, 2022, the aggregate value of purchases and sale cross trades with other Six Circles Funds were as follows (amounts in thousands):

During the period ended June 30, 2022, purchases and sales of investments (excluding short-term investments) were as follows (amounts in thousands):

In the normal course of business, the Funds enter into contracts that contain a variety of representations which provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown. The amount of exposure would depend on future claims that may be made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

Since Six Circles U.S. Unconstrained Equity Fund, Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund are non-diversified, they may invest a greater percentage of their assets in a particular issuer or group of issuers than a diversified fund would. This increased investment in fewer issuers may result in the Funds` shares being more sensitive to economic results among those issuing the securities.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund, invest in foreign issuers and foreign securities (including depositary receipts) which are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, liquidity risks and less stringent investor protection and disclosure standards of foreign markets. In

certain markets where securities and other instruments are not traded “delivery versus payment,” a Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely.

Events and evolving conditions in certain economies or markets may alter the risks associated with investments tied to countries or regions that historically were perceived as comparatively stable becoming riskier and more volatile.

The Global Bond and Credit Opportunities Funds invest a substantial portion of their assets in the Asia Pacific region. The small size of securities markets and the low trading volume in some countries in the Asia Pacific Region may lead to a lack of liquidity. Also, some Asia Pacific economies and financial markets have been extremely volatile in recent years. Many of the countries in the region are developing, both politically and economically. They may have relatively unstable governments and economies based on only a few commodities or industries. The share prices of companies in the region tend to be volatile and there is a significant possibility of loss. Also, some companies in the region may have less established product markets or a small management group and they may be more vulnerable to political or economic conditions, like nationalization. In addition, some countries have restricted the flow of money in and out of the country.

Certain of the currencies in the Asia Pacific region have experienced extreme volatility relative to the U.S. dollar. For example, Thailand, Indonesia, the Philippines and South Korea have had currency crises and have sought help from the International Monetary Fund. Holding securities in currencies that are devalued (or in companies whose revenues are substantially in currencies that are devalued) will likely decrease the value of the Fund. The trading volume on some Asia Pacific region stock exchanges is much lower than in the United States, and Asia Pacific region securities of some companies are less liquid and more volatile than similar U.S. securities. In addition, brokerage commissions on regional stock exchanges are fixed and are generally higher than the negotiated commissions in the United States. The imposition of tariffs or other trade barriers, or a downturn in the economy of a significant trading partner could adversely impact Asia Pacific companies. If the Fund concentrates in the Asia Pacific region, the Fund’s performance may be more volatile than that of a fund that invests globally. If Asia Pacific securities fall out of favor, it may cause a fund that concentrates in the Asia Pacific region to underperform funds that do not concentrate in the Asia Pacific region.

As of June 30, 2022, the Six Circles International Unconstrained Equity Fund had non-U.S. country allocations representing greater than 10% of Net Assets allocated as follows:

As of June 30, 2022, the Six Circles Global Bond Fund had non-U.S. country allocations representing greater than 10% of Net Assets allocated as follows:

As of June 30, 2022, a significant portion of the Six Circles International Unconstrained Equity and Six Circles Global Bond Funds’ net assets consisted of securities that were denominated in foreign currencies. Changes in currency exchange rates will affect the value of, and investment income from, such securities.

Overnight bank deposits of foreign currency can result in negative interest rates based on monetary policies in that respective country.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund are subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities, including securities backed by sub-prime mortgage loans. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund may be subject to leveraging risk, which is the risk that certain transactions of the Fund, such as loans of portfolio securities, and the use of when-issued, delayed delivery or forward commitment transactions, or derivative instruments, may give rise to leverage, magnifying gains and losses and causing the Fund to be more volatile than if it had not been leveraged.

The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund may invest in high yield securities that are not rated or rated below investment grade (commonly known as “junk bonds”). These securities are considered to be high risk investments. Investments in lower-rated securities or unrated securities of comparable quality tend to be more sensitive to economic conditions than higher rated securities. Junk bonds involve a greater risk of default by the issuer because such securities are generally unsecured and are often subordinated to other creditors’ claims. The market price of these securities can change suddenly and unexpectedly. As a result, the Funds are intended for investors who are able and willing to assume a high degree of risk.

Six Circles Credit Opportunities Fund may invest a substantial portion of the Fund’s total assets in below investment grade credit instruments including “high-yield” instruments (also known as “junk bonds”) and “distressed” debt instruments. Any investments in distressed or defaulted securities

subject the Fund to even greater credit risk than investments in other below investment-grade instruments. Investments in obligations of restructured, distressed and bankrupt issuers, including debt obligations that are already in default, generally trade significantly below par and may lack liquidity. Defaulted securities might be repaid only after which the issuer might not make any interest or other payments, and such proceedings may result in only partial recovery of principal or no recovery at all. Recovery could involve an exchange of the defaulted obligation for other debt instruments or equity securities of the issuer or its affiliates, each of which may in turn be illiquid or speculative and be valued by the Fund at significantly less than its original purchase price. In addition, investments in distressed issuers may subject the Fund to liability as a lender.

The Funds are subject to the risk that, should the Funds decide to sell an illiquid investment when a ready buyer is not available at a price the Funds deem to be representative of its value, the value of the Funds’ net assets could be adversely affected.

The Six Circles Credit Opportunities Fund invests in Loan Assignments. Loan assignments are vulnerable to market conditions such that economic conditions or other events may reduce the demand for assignments and certain assignments which were liquid, when purchased, may become illiquid and they may be difficult to value. In addition, the settlement period for loans is uncertain as there is no standardized settlement schedule applicable to such investments. Therefore, a Fund may not receive the proceeds from a sale of such investments for a period after the sale. Certain loan assignments are also subject to the risks associated with high yield securities described above.

The value of the Funds’ investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics. For example, the outbreak of COVID-19, a novel coronavirus disease, has negatively affected economies, markets and individual companies throughout the world, including those in which the Funds invest. The effects of this pandemic to public health and business and market conditions, including exchange trading suspensions and closures, may continue to have a significant negative impact on the performance of the Funds’ investments, increase the Funds’ volatility, exacerbate pre-existing political, social and economic risks to the Funds, and negatively impact broad segments of businesses and populations. The Funds’ operations may be interrupted as a result, which may contribute to the negative impact on investment performance. In addition, governments, their regulatory agencies, or self-regulatory organizations have taken, and may continue to take, actions in response to the pandemic that affect the instruments in which the Funds invest, or the issuers of such instruments, in ways that could have a significant negative impact on the Funds’ investment performance. The full impact of the COVID-19 pandemic, or other future epidemics or pandemics, is currently unknown.

The Funds may also invest in shares of other investment companies and ETFs. ETFs are ownership interests in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks many of which are designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. Shareholders bear both their proportionate share of the Fund’s expenses and similar expenses of the underlying investment company or ETF when the Fund invests in shares of another investment company or ETF. The Fund is subject to the risks associated with the ETF’s or investment company’s investments. ETFs, investment companies and other investment vehicles that invest in commodities or currencies are subject to the risks associated with direct investments in commodities or currencies. The price and movement of an ETF or closed-end fund designed to track an index may not track the index and may result in a loss. In addition, closed-end funds that trade on an exchange often trade at a price below their net asset value (also known as a discount). Certain ETFs or closed-end funds traded on exchanges may be thinly-traded and experience large spreads between the “ask” price quoted by a seller and the “bid” price offered by a buyer.

Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions than other types of investments and could result in losses that significantly exceed each Fund’s original investment. Many derivatives create leverage thereby causing the Funds to be more volatile than they would have been if they had not used derivatives. Derivatives also expose the Funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligations), including credit risk of the derivative counterparty.

The Funds are also subject to counterparty credit risk, which is the risk that a counterparty fails to perform on agreements with the Funds such as swap and option contracts and forward foreign currency exchange contracts.

The Funds are subject to interest rate and credit risk. The value of debt securities may decline as interest rates increase. The Funds could lose money if the issuer of a fixed income security is unable to pay interest or repay principal when it is due. The Fund may invest in variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than fixed rate instruments, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Many factors can cause interest rates to rise. Some examples include central bank monetary policy, rising inflation rates and general economic conditions. The ability of the issuers of debt to meet their obligations may be affected by the economic and political developments in a specific industry or region.

The Six Circles Tax Aware Ultra Short Duration Fund and Six Circles Tax Aware Bond Fund invest primarily in a portfolio of debt obligations issued by states, territories and possessions of the United States and by the District of Columbia, and by their political subdivisions and duly constituted authorities. These debt obligations may be insured by private insurers who guarantee the payment of principal and interest in the event of issuer default. The value of these investments may be impacted by changes to bond insurers’ ratings and the Fund’s ability to collect principal and interest in the event of an issuer’s default may be limited if the private insurer does not have the wherewithal to satisfy its obligation.

12-month U.S. Dollar LIBOR settings will permanently cease; and (iii) immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and that representativeness will not be restored. There is no assurance that the dates announced by the FCA will not change or that the administrator of LIBOR and/or regulators will not take further action that could impact the availability, composition or characteristics of LIBOR or the currencies and/or tenors for which LIBOR is published. Public and private sector industry initiatives are currently underway to implement new or alternative reference rates to be used in place of LIBOR. There is no assurance that any such alternative reference rate will be similar to or produce the same value or economic equivalence as LIBOR or that it will have the same volume or liquidity as did LIBOR prior to its discontinuance or unavailability, which may affect the value or liquidity or return on certain of a Fund’s loans, notes, derivatives and other instruments or investments comprising some or all of a Fund’s investments and result in costs incurred in connection with closing out positions and entering into new trades. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor) and a wide range of other index levels, rates and values that are treated as "benchmarks" and are the subject of recent regulatory reform.

For Federal income tax purposes, the estimated cost and unrealized appreciation (depreciation) in value of investments held at June 30, 2022 were as follows (amounts in thousands):

As of December 31, 2021, the following Funds had the following post-enactment net capital loss carryforwards (amounts in thousands):

During the year ended December 31, 2021, the following Funds utilized capital loss carryforwards as follows (amounts in thousands):

Net capital losses incurred after October 31 within the taxable year are deemed to arise on the first business day of the Funds’ next taxable year. For the year ended December 31, 2021, the Funds deferred to January 1, 2022 the following net capital losses of (amounts in thousands):

As of June 30, 2022, Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles U.S. Unconstrained Equity Fund, Six Circles International Unconstrained Equity Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund each had one affiliated omnibus account for the benefit of its clients which owned approximately 99% of its outstanding shares.

In October 2020, the SEC adopted new regulations governing the use of derivatives by registered investment companies. Rule 18f-4 will impose limits on the amount of derivatives a fund could enter into, eliminate the asset segregation framework currently used by funds to comply with Section 18 of the 1940 Act, and in addition to these and other requirements, to maintain a derivatives risk management program and appoint a derivatives risk manager. While the new rule became effective February 19, 2021, funds will not be required to fully comply with the new rule until August 19, 2022. As the Funds come into compliance, the Funds’ approach to asset segregation and coverage requirements will be impacted. Management expects the adoption of this guidance will not have a material impact on the Funds’ financial statements.

In March 2020, the FASB issued Accounting Standard Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” This ASU provides optional exceptions for applying GAAP to contract modifications, hedging relationships and other transactions affected reference rate reform if certain criteria are met. ASU 2020-04 is elective and is effective on March 12, 2020 through December 31, 2022. Management expects that the adoption of this guidance will not have a material impact on the Funds’ financial statements.

The Funds have evaluated subsequent events through the date of issuance of this report and have determined that there are no material events that require disclosure other than what has been disclosed above.

As a shareholder of the Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemption fees and (2) ongoing costs, including investment advisory fees, administration fees, distribution fees and other Fund expenses. The examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these ongoing costs with the ongoing costs of investing in other mutual funds. The examples assume that you had a $1,000 investment in each fund on January 1, 2022, and continued to hold your shares at the end of the reporting period, June 30, 2022.

Actual Expenses

For each Fund in the table below, the first line provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line in the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales charges (loads) or redemption fees. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher. The examples also assume all dividends and distributions have been reinvested.

Board Review and Approval of the Continuation of the Advisory, Sub-Advisory and Sub-Sub-Advisory Agreements

The Board of Trustees (the “Board”, and each member of the Board, a “Trustee”) of the Six Circles Trust (the “Trust”), including the Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended, the “1940 Act”) of J.P. Morgan Private Investments Inc. (“JPMPI” or the “Adviser”), the Sub-Advisers (as defined below) or their affiliates (the “Independent Trustees”) met on June 7-8, 2022 (the “Meeting”) to consider and approve (i) the continuation of the Investment Advisory Agreement (the “Advisory Agreement”) between the Trust, on behalf of the Six Circles U.S. Unconstrained Equity Fund (the “U.S. Equity Fund”), the Six Circles International Unconstrained Equity Fund (the “International Equity Fund”), the Six Circles Tax Aware Ultra Short Duration Fund (the “Tax Aware Fund”), the Six Circles Ultra Short Duration Fund (the “Ultra Short Fund”), the Six Circles Global Bond Fund (the “Global Bond Fund”), the Six Circles Tax Aware Bond Fund (the “Tax Aware Bond Fund”) and the Six Circles Credit Opportunities Fund (the “Credit Opportunities Fund”) (collectively the “Funds”), and JPMPI; and (ii) the Sub-Advisory Agreements in respect of the Funds (the “Sub-Advisory Agreements”) between JPMPI and BlackRock Investment Management, LLC (“BlackRock”), Pacific Investment Management Company (“PIMCO”), Insight North America LLC (“Insight”), Goldman Sachs Asset Management LP (“GSAM”), PGIM, Inc. (“PGIM”), Capital International, Inc. (“Capital”), Nuveen Asset Management, LLC (“Nuveen”), Allspring Global Investments, LLC (“Allspring”), Lord, Abbett & Co. LLC (“Lord Abbett”), BlueBay Asset Management LLP (“BlueBay”), Muzinich & Co., Inc. (“Muzinich”) and Russell Investments Implementation Services, LLC (“RIIS”) (as stand-by “Interim Sub-Adviser”) (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) and the Sub-Sub-Advisory Agreements between BlackRock and each of BlackRock International Limited (“BIL”) and BlackRock (Singapore) Limited (“BSL”) as well as the Sub-Sub-Advisory Agreement between PGIM and PGIM Limited (“PGIML”) (the “Sub-Sub-Advisory Agreements”, and together with the Advisory Agreement and Sub-Advisory Agreements, the “Agreements”) (each of BIL, BSL and PGIML, a “Sub-Sub-Adviser” and collectively, the “Sub-Sub-Advisers”). At the Meeting, the Board, including the Independent Trustees, unanimously approved the Advisory Agreement, each Sub-Advisory Agreement and Sub-Sub-Advisory Agreement.

adviser and sub-advisers furnish, such information as may be necessary to evaluate the terms of the proposed agreements. JPMPI and each Sub-Adviser responded to the information requests and provided memoranda and related materials and information for consideration by the Trustees, which were included in the materials for the Meeting (together, the “15(c) Materials”). Following receipt and review, the Independent Trustees and their counsel, Ropes & Gray, held a separate conference call to consider the 15(c) Materials and related proposed advisory, sub-advisory and sub-sub-advisory arrangements, during which the Independent Trustees raised various questions and requests for additional information to be responded to by JPMPI. Subsequent calls were held with representatives from JPMPI to communicate the Independent Trustees’ additional questions and requests for information, each of which was responded to by JPMPI either in writing or orally at the Meeting.

Set forth below is a summary of the material factors evaluated by the Trustees that formed the basis for the Board’s approval of the continuation of the Advisory Agreement, the Sub-Advisory Agreements and Sub-Sub-Advisory Agreements. The Trustees’ conclusions as to the approval of the continuation of the Agreements were based on a comprehensive consideration of all information provided to the Trustees. In deciding to approve the continuation of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements, the Board did not identify any single factor or particular information that, in isolation, was controlling. Some of the factors that figured particularly in the Trustees’ deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, attributing different weights to various factors.

Materials Reviewed. In considering the approval of the continuation of the Advisory Agreement between the Trust and JPMPI for the Funds, the Sub-Advisory Agreements in respect of the Funds between JPMPI and BlackRock, PIMCO, Insight, GSAM, PGIM, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS and the Sub-Sub-Advisory Agreements between BlackRock and each of BIL and BSL as well as the Sub-Sub-Advisory Agreement between PGIM and PGIML, the Trustees took into account the 15(c) Materials relating to the services provided by JPMPI, the Sub-Advisers and Sub-Sub-Advisers provided prior to and during the Meeting, the presentations made during the Meeting, and the extensive discussions during the Meeting. It was noted that, to date, RIIS had not been called to act as Interim Sub-Adviser to the Funds. The Trustees reviewed information relating to, among other things, the investment management services provided by the Adviser, the Sub-Adviser and Sub-Sub-Advisers to the Funds, including the compliance programs of the Adviser, the Sub-Advisers and Sub-Sub-Advisers, valuation, and other information related to personnel of the Adviser, Sub-Advisers and Sub-Sub-Advisers who provide investment management

services to the Funds. They also reviewed comparative fee information prepared by Broadridge and a memorandum prepared by Independent Legal Counsel regarding the responsibilities of the Trustees in considering the approval of the continuation of advisory and sub-advisory agreements.

Representatives of JPMPI also participated in the Meeting, at which the Trustees discussed the advisory, sub-advisory and sub-sub-advisory arrangements with the Adviser, the Sub-Advisers and the Sub-Sub-Advisers for the Funds. Representatives of PGIM and PIMCO also attended the Meeting, and it was noted that representatives of the other Sub-Advisers had attended board meetings during the last year.

Review Process. In connection with the approval of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements, the Trustees reviewed written materials provided by JPMPI, which included, among other things, comparative fee data prepared by Broadridge, an independent provider of investment company performance and fee and expense data. The Trustees also requested and received assistance and advice regarding applicable legal standards from Independent Legal Counsel. The Trustees additionally considered the written information provided by JPMPI, the Sub-Advisers and Sub-Sub-Advisers in response to the Trustees’ requests for information and other information provided by JPMPI. The Trustees also heard oral presentations during regular meetings throughout the year on matters related to the Advisory Agreement, the Sub-Advisory Agreements and the Sub-Sub-Advisory Agreements, as well as related arrangements with RIIS. The Independent Trustees held separate telephonic meetings prior to the Meeting, which were attended by Independent Legal Counsel, to discuss the proposed continuation of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements and the related materials and information provided by JPMPI and the Sub-Advisers. Based on their deliberations during the prior meetings, the Independent Trustees formulated a number of questions and requests for follow-up information from management, with respect to which JPMPI had responded in writing or orally during the Meeting. In addition, the Independent Trustees discussed the proposed continuation of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements during an executive session held as part of the Meeting with Independent Legal Counsel at which no representatives of JPMPI, the Sub-Advisers, the Sub-Sub-Advisers or other representatives from management were present. In deciding to approve the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements, the Trustees did not identify any single factor or particular information that, in isolation, was controlling.

Nature, Extent and Quality of Services. The Trustees considered the depth and quality of the investment management process of JPMPI, the Sub-Advisers and Sub-Sub-Advisers, including for each entity, the experience and capabilities of its senior man-

agement, investment and other personnel, and the overall financial strength and stability of the organizations. The Trustees also considered the nature, extent and quality of the various services that JPMPI would provide under the Advisory Agreement. The Trustees also noted JPMPI’s commitment to investing in information technology, supporting compliance, as well as JPMPI’s continuing efforts to attract and retain qualified personnel and to maintain and enhance its resources and systems. The Trustees considered JPMPI’s review of its policies, procedures and systems to assure compliance with applicable laws and regulations and to conduct effective oversight of each Sub-Adviser and Sub-Sub-Adviser; and its processes to keep the Trustees informed about matters relevant to the Funds and their shareholders.

Similarly, the Trustees considered the sub-advisory and sub-sub-advisory services provided by each Sub-Adviser and Sub-Sub-Adviser to the Funds. The Trustees also considered information about the investment personnel of BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS who are responsible for providing services under the Sub-Advisory Agreements and Sub-Sub-Advisory Agreements. For each of BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS, the Trustees reviewed the nature and quality of the investment management, trading, risk management, compliance capabilities and resources, research capabilities, and the experience and capabilities of its portfolio management personnel, and the overall financial strength of each organization. The Trustees noted the certificates received from JPMPI and the Sub-Advisers regarding both their compliance programs and codes of ethics, which noted that that each of JPMPI, BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS had compliance policies and procedures in place that were reasonably designed to prevent violations of the federal securities laws with respect to the services provided by them and had each adopted a code of ethics that included provisions reasonably necessary to prevent access persons from (i) engaging in certain specified conduct and (ii) violating the code of ethics.

Ultimately, the Board concluded that the nature, extent and quality of services proposed to be provided by the Adviser, Sub-Advisers and Sub-Sub-Advisers under the Advisory, Sub-Advisory and Sub-Sub-Advisory Agreements were likely to benefit the Funds and their shareholders.

Investment Performance. As part of their review of the services provided by JPMPI, BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay and Muzinich the Trustees reviewed the performance of each of the Funds, including the Broadridge report containing comparative performance information of a peer group of similar funds selected by Broadridge. In reviewing the comparative

information, the Trustees took into account JPMPI’s explanation that the peer funds selected by Broadridge do not provide particularly apt comparisons, given the Funds’ intended role as completion portfolios for the broader J.P. Morgan managed account portfolios and the bespoke and highly tailored structures of the Funds’ portfolios. The Trustees considered JPMPI’s view that since the role of the Funds is to enhance the relative performance of the total managed account portfolios in which they are held, the Trustees should also take into account and evaluate the performance of the Funds in the context of the broader portfolios they are intended to complete and on the basis of whether the Funds serve their intended purpose. In this regard, the Board received representations from the JPMPI CIO team regarding the utility of the Funds in serving their intended purpose, including how they have served to enhance access to investment ideas and have increased portfolio efficiency for the managed account strategies. In this regard, the Trustees received supplemental information regarding (i) Sub-Adviser/Sub-Sub-Adviser sleeve performance and (ii) performance of the J.P. Morgan managed account strategies that invest in the Funds.

To evaluate Sub-Adviser/Sub-Sub-Adviser sleeve performance, the Trustees reviewed performance information of each of the Sub-Adviser sleeves against their performance benchmark(s), which included customized benchmarks in certain cases. The Trustees also considered that Sub-Adviser performance is reviewed independently by the J.P. Morgan Investment Performance Governance Committee (“IPGC”), and reviewed related materials from IPGC reports.

Regarding Fund performance, in addition to the performance information comparing each of the Funds against their Broadridge peers and their prospectus stated benchmarks, the Board reviewed composite performance information for J.P. Morgan managed account portfolios that invest in the Funds, along with 2021 portfolio attribution reports pointing out the main contributors to and detractors from the performance of the managed account portfolios, including the role of the Funds as components of the broader portfolios. The Trustees also considered that Fund performance is reviewed independently by the J.P. Morgan Portfolio Governance Committee (“PGC”), a committee responsible for providing ongoing oversight of its internal investment strategies, including the investment strategies inclusive of the Funds and reviewed related materials. The Board considered that PGC to date has been satisfied with the performance of the Funds and each Sub-Adviser and that the Funds have to date and continue to serve their intended purpose.

Based on these reviews, the Trustees concluded that they were satisfied with the investment performance provided by each of JPMPI under the Advisory Agreement and BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS under the respective Sub-Advisory and Sub-Sub-Advisory Agreements.

Fees and Total Expenses. In considering the fees and expenses of each Fund, the Trustees took into account a number of factors, including the type and complexity of the services to be provided, the estimated cost of providing services, the risk assumed by JPMPI in the provision of services, the impact on potential returns from different levels of fees, the competitive marketplace for financial products, and the attractiveness of potential returns to investors in the Funds. The Trustees noted JPMPI’s explanation that the advisory fee rate is consistent across all of the Funds as the fee covers sub-advisory fees and each Fund receives similar investment management services from JPMPI, including asset allocation, investment oversight and other management services. The Trustees also took into account that the Adviser had: (1) agreed to contractually reimburse expenses for the Funds to the extent the total expense ratio for each Fund exceeded a certain specified limit; and (2) agreed to contractually waive any advisory fees that exceeded the aggregate advisory fees JPMPI is contractually required to pay to the Sub-Advisers. The Trustees considered how these agreements affect the expenses borne by shareholders.

The Trustees reviewed the advisory fee and total expenses of each Fund (each as a percentage of average net assets) and compared such amounts with the average and median fees and expense levels of other similar funds. With respect to advisory fees, the Trustees reviewed data from Broadridge that compared the average and median advisory fees of other funds in a peer group of comparable funds. The Trustees compared each of the Funds’ total expenses to other funds in the applicable peer group provided by Broadridge and found the total expenses of each Fund to be reasonable. The Trustees noted that the Broadridge information showed that the actual advisory fee for each Fund was in the low range of the applicable Broadridge peer group and universe. They further noted that the total expense ratio for each Fund was also within the low range of total expenses within its peer group, when taking into account the fee waiver and expense reimbursement arrangements for each Fund. The Trustees also found that the fees paid by JPMPI to BlackRock, PIMCO, Insight, GSAM, PGIM, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS were reasonable, noting that the Funds do not pay the fees to the Sub-Advisers directly, but that JPMPI compensates them out of the advisory fee it receives from the Funds. The Trustees also considered that the sub-sub-advisory fees paid to the Sub-Advisers are paid out of the sub-advisory fees paid to the Sub-Advisers by JPMPI. The Trustees noted that neither JPMPI nor BlackRock (with respect to the U.S. Equity Fund, International Equity Fund, Global Bond Fund and Credit Opportunities Fund), Insight, PGIM (with respect to the Global Bond Fund), Capital and RIIS identified any funds or accounts with comparable investment objectives and strategies as the Funds. They reviewed the fee rates of funds or accounts with comparable investment objectives and strategies identified by

BlackRock (with respect to the Ultra Short Fund), GSAM (with respect to the Ultra Short Fund and Tax Aware Fund), PIMCO (with respect to the Ultra Short Fund and Tax Aware Ultra Short Fund), Allspring (with respect to the Tax Aware Bond Fund), Nuveen (with respect to the Tax Aware Bond Fund), PGIM (with respect to the Credit Opportunities Fund), Lord Abbett (with respect to the Credit Opportunities Fund), BlueBay (with respect to the Credit Opportunities Fund) and Muzinich (with respect to the Credit Opportunities Fund), noting the Adviser’s views regarding the limitations of fee comparisons to other funds and separately managed accounts that are not registered under the 1940 Act, in light of the differences in services provided to the Funds compared to those provided to other funds and other accounts that are not registered under the 1940 Act. Further, the Board noted the limitations of fee comparisons to other funds for which the Sub-Advisers serve as primary investment adviser, as opposed to fees charged to funds that Sub-Advisers sub-advise, in light of the differences in sub-advisory services provided to the Funds compared to those provided to other funds for which the Sub-Advisers serve as primary adviser. Additionally, the Trustees noted the most-favored nation provisions agreed to by BlackRock, PIMCO, Insight, GSAM, PGIM, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS, which help ensure that sub-advisory fee rates charged by each such Sub-Adviser to the Funds are no higher than the fees the Sub-Adviser charges to similar clients.

Based on the information presented by JPMPI, BlackRock, PIMCO, Insight, GSAM, PGIM, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich, RIIS and Broadridge, the Trustees determined that the level of the advisory fees charged by JPMPI, the level of the sub-advisory fees to be paid by JPMPI to BlackRock, PIMCO, Insight, GSAM, PGIM, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS, the level of sub-sub-advisory fees to be paid by BlackRock to BIL and BSL, the level of sub-sub-advisory fees to be paid by PGIM to PGIML, as well as the total expenses of each Fund, are reasonable, fair and equitable and that approval of the continuation of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements benefits each Fund and its shareholders.

Trustees took into account that JPMPI’s estimates indicated that the Adviser has been unprofitable with respect to each of the Funds from inception through December 31, 2021. The Trustees also took into account that, although JPMPI has not realized profits with respect to the Funds, J.P. Morgan and its affiliates could be profitable with respect to the managed accounts that invest in the Funds and received related information and input from JPMPI in this regard.

The Trustees further noted that the advisory fee rates to be paid to JPMPI do not have break points, but due to the fee waiver arrangements, JPMPI does not retain any portion of the advisory fees paid by the Funds. The Trustees took into account that the Sub-Advisory Agreements for BlackRock, PIMCO, Insight, GSAM, PGIM, Nuveen, Allspring, BlueBay, Muzinich, Lord Abbett, and RIIS include breakpoints to certain of the sub-advisory fees in light of the anticipated size of those Funds.

Ultimately, the Trustees concluded that each of the Funds’ fee and expense structure is reasonable, fair and equitable.

Ancillary Benefits. The Trustees next considered whether the Adviser, BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS or any of their affiliates may receive other benefits as a result of the relationship with the Trust or the Funds. The Trustees considered that the Funds benefit the Adviser and its affiliates by enhancing the current discretionary product offering to J.P. Morgan Private Bank, J.P. Morgan Securities and Chase Wealth Management clients. Specifically, the Board considered that the Funds serve to expand the CIO investments toolkit, expand the current capacity to invest and reduce unintended portfolio dispersion. The Board also considered that, apart from the Adviser, who does not retain any fees under the Advisory Agreement for managing the Funds, the Funds are not engaging any JPMC affiliates as fund service providers. Instead, the Funds are utilizing third party service providers and restrict any transactions with affiliates. In this regard, the Trustees took into account JPMPI’s representation that no JPMC affiliate is profiting financially directly from the Funds themselves. The Trustees considered that the Adviser does receive a portfolio management fee (“PMF”) outside of the Funds based on funds held in the Adviser’s discretionary client accounts, including on assets attributable to shares of the Funds held in such accounts. The Trustees took into account, however, JPMPI’s representation that it would receive this PMF independent of whether the discretionary accounts allocated investments to the Funds or allocated the same assets to a third party fund or other investment.

The Trustees additionally considered that BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS were not affiliated with any of the Funds’ service providers, and therefore do not benefit from those contractual relationships. The Trustees also considered portfolio trading practices of RIIS, noting the relatively

low trading costs that RIIS expects to incur in completing portfolio transactions for the Funds, should the services be used. Additionally, the Trustees considered that RIIS may receive ancillary benefits of receiving fees from serving as transition manager to the Funds under the Implementation Services Agreement between the Adviser and RIIS, but noted that those fees are not contingent on RIIS serving as an interim sub-adviser and would be for services that are distinct from RIIS sub-advisory services. The Trustees also considered the proprietary nature of the Funds and whether any benefits result to the Adviser by placing assets of J.P. Morgan managed account clients into the Funds. The Trustees also considered portfolio trading practices, noting that while the Adviser was affiliated with a broker-dealer, the broker-dealer affiliate does not execute portfolio transactions on behalf of the Funds and would not receive the benefit of research provided by any such broker-dealer.

The Trustees also took into account that, although the Adviser does not retain any of the advisory fees it receives from the Funds and has to date been unprofitable with respect to its management of the Funds themselves, that the Adviser and its affiliates receive fees for managing the J.P. Morgan managed accounts that invest in the Funds. In this regard, the Trustees discussed with management possible approaches to estimating

any imputed profitability to the Adviser or J.P. Morgan from their operation of the Funds taking into account the managed account fees they receive that are attributable to assets invested in the Funds and related expenses, and reviewed related information provided by the Adviser. In this regard, the Trustees took into account the Adviser’s representation that J.P. Morgan would continue to receive the same level of fees from its managed accounts whether the accounts invested in the Funds or in other funds and/or individual securities.

Conclusions. Having requested and received such information from the Adviser, BlackRock, BIL, BSL, PIMCO, Insight, GSAM, PGIM, PGIML, Capital, Nuveen, Allspring, Lord Abbett, BlueBay, Muzinich and RIIS as the Trustees believed to be reasonably necessary to evaluate the continuation of the terms of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements, the Trustees, including the Independent Trustees, unanimously concluded that the advisory fee, sub-advisory fee and sub-sub-advisory structures were reasonable and, in light of the matters that the Trustees considered to be relevant in the exercise of their reasonable business judgment, approved the continuation of the Advisory Agreement, Sub-Advisory Agreements and Sub-Sub-Advisory Agreements for an additional one year term.

Each of the Funds has adopted the Six Circles Funds Liquidity Risk Management Program (the “Program”) under Rule 22e-4 under the 1940 Act (the “Liquidity Rule”). The Program seeks to assess, manage and review each Fund’s Liquidity Risk. “Liquidity Risk” is defined as the risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of remaining investors’ interests in the fund. Among other things, the Liquidity Rule requires that a written report be provided to the Boards of Trustees (the “Board”) on an annual basis that addresses the operation of the Program and assesses the adequacy and effectiveness of its implementation and any material changes to the Program. JPMPI’s Liquidity Risk Forum (the “Liquidity Forum”) is the program administrator for the Program (the “Program Administrator”). On June 8, 2022, the Board of Trustees reviewed the Program Administrator’s initial written report (the “Report”) concerning the operation of the Program for the period from January 1, 2021 through December 31, 2021 (the “Program Reporting Period”). The Report addressed the operation of the Program and assessed its adequacy and effectiveness of implementation. The Report summarized the operation of the Program and the information and factors considered by the Program Administrator in assessing whether the Program has been adequately and effectively implemented with respect to each Fund. Such information and factors included, among other things: (1) the liquidity risk framework used to assess, manage, and periodically review each Fund’s Liquidity Risk and the results of this assessment; (2) the methodology and inputs for classifying each of the Fund’s investments into one of four liquidity categories that reflect an estimate of their liquidity under current market conditions; (3) whether a Fund invested primarily in “Highly Liquid Investments” (as defined under the Liquidity Rule) and whether a Highly Liquid Investment Minimum (“HLIM”) should be established for a Fund and the procedures for monitoring for this limit; with the assessment that each Fund was invested primarily in “Highly Liquid Investments and therefore no HLIM needed to be established for any Fund (4) whether a Fund invested more than 15% of its assets in “Illiquid Investments” (as defined under the Liquidity Rule) and the procedures for monitoring for this limit, with the assessment that each Fund was under the 15% limit during the Program Reporting Period; and (5) specific liquidity events arising during the Program Reporting Period, including the impact on Fund liquidity caused by extended non-U.S. market closures. There were no material changes to the Program during the Program Reporting Period, although adjustments were made to the “reasonably anticipated trade size” calculation methodology description to account for actual fund trade experience as the Funds have seasoned.

Based on this review, the Report concluded that: (1) the Program continues to be reasonably designed to effectively assess and manage each Fund’s Liquidity Risk; and (2) the Program has been adequately and effectively implemented with respect to each Fund during the Program Reporting Period.

The names of the Trustees of the Trust, together with information regarding their year of birth, the year each Trustee first became a Board member of the Trust, principal occupations and other board memberships, including those in any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”) or subject to the requirements of Section 15(d) of the Securities Exchange Act or any company registered as an investment company under the 1940 Act, are shown below. The contact address for each of the Trustees is 383 Madison Avenue, New York, NY 10179. The Funds’ Statement of Additional Information includes additional information about the Trustees, and is available, without charge, by calling collect at 1-212-464-2070, or on the Six Circles Funds’ website at www.sixcirclesfunds.com.

The Trust’s executive officers (listed below) generally are employees of the Adviser or one of its affiliates. The officers conduct and supervise the business operations of the Trust. The officers hold office until a successor has been elected and duly qualified. The Trust has no employees. The names of the officers of the Funds, together with their year of birth, information regarding their positions held with the Trust and principal occupations are shown below. The contact address for each of the officers, unless otherwise noted, is 383 Madison Avenue, New York, NY 10179.

For more complete information about the Funds, including the Funds’ objectives, risks, charges and expenses, call your J.P. Morgan team or call 1-212-464-2070 or go to www.sixcirclesfunds.com for a prospectus. Read the prospectus carefully. An investment in these Funds and any other Fund is not designed to be a complete investment program. The Funds are NOT designed to be used as a stand-alone investments. J.P. Morgan is committed to making our products and services accessible to meet the financial services needs of all our clients. If you are a person with a disability and need additional support accessing this material, please contact your J.P. Morgan team or email us at accessibility.support@jpmorgan.com for assistance.

The Six Circles Funds are distributed by Foreside Fund Services, LLC a member of FINRA.

Contact Six Circles Funds collect at 1-212-464-2070 for a fund prospectus. You can also visit us at www.sixcirclesfunds.com. Investors should carefully consider the investment objectives and risk as well as charges and expenses of the Six Circles Funds before investing. The prospectus contains this and other information about the Six Circles Funds. Read the prospectus carefully before investing.

The Six Circles Funds file complete schedules of their fund holdings for the first and third quarters of their fiscal year with the SEC on Form N-PORT. The Six Circles Funds’ Forms N-PORT are available on the SEC’s website at http://www.sec.gov. Each Fund’s quarterly holdings can be found by visiting the Six Circles Funds’ website at www.sixcirclesfunds.com/literature.

A description of the Six Circles Funds’ policies and procedures with respect to the disclosure of the Six Circles Funds’ holdings is available in the prospectuses and Statements of Additional Information.

A copy of proxy policies and procedures is available without charge upon request by calling collect 1-212-464-2070 or on the Six Circles Funds’ website at www.sixcirclesfunds.com. A description of such policies and procedures is in the Statement of Additional Information available on the SEC’s website at www.sec.gov. The Trustees have delegated the authority to vote proxies for securities owned by the Fund to the Adviser, and the Adviser in turn has delegated such authority to the Sub-Advisers. A copy of the Six Circles Funds’ voting record for the most recent 12-month period ended June 30 is available on the SEC’s website at www.sec.gov or at the Six Circles Funds’ website at www.sixcirclesfunds.com no later than August 31 of each year. The Six Circles Funds’ proxy voting record will include, among other things, a brief description of the matter voted on for each fund security, and will state how each vote was cast, for example, for or against the proposal.

For additional information about the risks of investing in the Funds’ see section 5 starting on page 45.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Managed Equity Portfolio U.S. Unconstrained Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests at least 80% of its net assets in equity securities issued by U.S. companies and other instruments with economic characteristics similar to equity securities issued by U.S. companies. The Fund is generally unconstrained by any particular capitalization, style or industry sector.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary Managed Equity Portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the broader Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2022 through June 30, 2022 (the “reporting period”), the Fund posted a negative return on an absolute basis, but outperformed relative to the MSCI USA Index (the “Index”). References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index, but rather is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Communication Services, Health Care and Information Technology sectors comprised approximately 64% of the Fund’s sector exposure on a look-through basis at the end of the reporting period, and were the Fund’s largest sector overweights relative to the Index. During the reporting period, all the three sectors

detracted from the Fund’s performance on an absolute basis. However, relative to the Index, Health Care contributed to the Funds’ performance while Communication Services and Information Technology detracted.

Consumer Discretionary, Consumer Staples and Utilities sectors comprised approximately 13% of the Fund’s sector exposure on a look-through basis at the end of the reporting period, and were the Fund’s largest sector underweights relative to the Index. During the reporting period, all the sectors detracted from the Fund’s performance on an absolute basis. However, relative to the index, Consumer Discretionary contributed to the Funds’ performance while Utilities and Consumer Staples detracted.

On an allocation level, the Fund’s allocation to U.S. Energy was the largest contributor to the Fund’s performance, while allocation to Broad USA detracted on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to twenty strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
USA	36	%
U.S. Software	7
U.S. Financials	6
U.S. Pharmaceuticals	6
U.S. Information Technology	5
U.S. Managed Health Care	5
U.S Interactive Media & Services	5
U.S. Air, Freight & Logistics	4
U.S. Internet Retail	4
U.S. Communication Services	3
U.S. Data Processing	3
U.S. Growth	3
U.S. Life Sciences, Tools & Services	2
U.S. Electronic Equipment	2
U.S. Semiconductors & Semiconductor Equipment	2
U.S. Technology, Hardware & Equipment	2
U.S. Energy	2
U.S. Airlines	1


PORTFOLIO ALLOCATION***
U.S. Beverages	1	%
U.S. Biotechnology	1

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Allocation to Broad USA, which was approximately 36% of the Fund as of June 30, 2022, provides what the Adviser believes to be an ability to tactically allocate broad U.S. large cap exposure and use as a potential funding source for future targeted allocations.

Allocations to U.S. Software and U.S. Internet Retail provide what the Adviser believes is a multi-year opportunity for the leaders in this space to take advantage of businesses shifting workloads onto Cloud platforms. These exposures comprised approximately 11% of the Fund as of June 30, 2022.

Allocations to U.S. Pharmaceuticals and U.S. Biotechnology comprised approximately 7% of the Fund as of June 30, 2022. The Adviser believes that Pharmaceutical companies have strong fundamentals with attractive valuations in the current market. The Biotechnology sector focuses on companies primarily engaged in the research, development, manufacturing and /or marketing of products based on genetic analysis and genetic engineering.

Allocation to U.S. Financials comprised approximately 6% of the Fund as of June 30, 2022. The Adviser believes in capital adequacy and dividend sustainability in the sector and has conviction in the position given compelling valuations and more realistic market expectations about potential credit costs and buybacks.

Allocation to U.S. Interactive Media & Services focuses on companies engaged in content and information creation or distribution through proprietary platforms, where revenues are derived primarily through pay-per-click advertisements. This allocation was approximately 5% of the Fund as of June 30, 2022. The Adviser believes in the opportunities available in the cloud market and views this exposure as potential for continued strength in earnings growth.

Allocation to U.S. Information Technology, which allows the Adviser to access specific exposures within the Technology sector, was approximately 5% of the Fund as of June 30, 2022.

Allocations to U.S. Managed Health Care comprised approximately 5% of the Fund as of June 30, 2022. The Adviser

believes that the allocation focuses on the intersection of health care and innovation. Allocation to U.S. Managed Health Care provides exposure to the four paradigm shifts within Health care identified by our CIO team, including big data, advanced diagnostics, targeted therapies, and enhanced aging.

Allocation to U.S. Technology, Hardware & Equipment allows the Adviser to access specific exposures within the Technology sector. This allocation comprised approximately 2% of the Fund as of June 30, 2022.

The Adviser believes that companies under U.S. Air, Freight & Logistics sector are likely to improve free cash flow generation after having underperformed. This allocation comprised approximately 4% of the Fund as of June 30, 2022.

Allocation to Communications Services, allows the Adviser to gain specific exposures within the mega cap technology sectors. The allocation was approximately 3% of the Fund as of June 30, 2022.

Allocation to U.S. Beverages was approximately 1% of the Fund’s exposure as of June 30, 2022 and reflects the Adviser’s belief that major players of this sector are going through structural changes and are set to improve free cash flow conversion.

The Adviser believes that allocation to the U.S. Electronic Equipment is attractive given its position within the broader Information Technology Sector and structural change over the past decade. This allocation comprised approximately 2% of the Fund as of June 30, 2022.

The Adviser believes that allocation to U.S. Energy serves as a cyclical exposure that may do well as rates rise. This allocation was approximately 2% of the Fund as of June 30, 2022.

The Adviser believes that allocation to U.S. Airlines takes advantage of the continued global recovery and rebound in travel. This allocation comprised approximately 1% of the Fund as of June 30, 2022.

Allocation to U.S. Growth was approximately 3% of the Fund’s exposure as of June 30, 2022 The Adviser believes that growth equities sold off aggressively through the first half of 2022 following Fed Hikes, so allocation to U.S. Growth Style factor rebalances risks in the portfolio.

Allocation to Life Sciences Tools & Services was approximately 2% of the Fund as of June 30, 2022. The Adviser believes that the sector comprises of high quality and large cap companies with double digit earnings growth.

Allocation to Data Processing was approximately 3% of the Fund as of June 30, 2022. The Adviser believes that the companies within the sector’s core business have been accelerating and have expanded into new payment flows.


AVERAGE ANNUAL TOTAL RETURNS AS OF JUNE 30, 2022
	6 Months*			1 Year			Since Inception (April 10, 2019)
Six Circles Managed Equity Portfolio U.S. Unconstrained Fund		(20.60	)%		(12.97	)%		12.30	%

*	Not Annualized

GROWTH OF $10,000 REPORT (04/10/2019 to 06/30/2022)

LOGO

¹⁾

cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.28% and 0.07% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on April 10, 2019.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and the MSCI USA Index from April 10, 2019 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI USA Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.

INVESTMENT OBJECTIVES AND STRATEGY**

Six Circles Managed Equity Portfolio International Unconstrained Fund (the “Fund”) seeks to provide capital appreciation. The Fund invests at least 80% of its net assets in equity securities and other instruments with economic characteristics similar to equity securities. The Fund primarily invests in the equity securities of non-U.S. companies and is generally unconstrained by any particular capitalization, style or sector or non-U.S. country.

INVESTMENT APPROACH

J.P. Morgan Private Investments Inc., the Fund’s investment adviser (“JPMPI” or the “Adviser”), actively allocates the Fund’s investments among a range of indexed investment strategies that are managed by the current sub-adviser, BlackRock Investment Management, LLC (the “Sub-Adviser” or “BlackRock”). For each indexed investment strategy, the Sub-Adviser seeks to replicate the performance of an index or sub-index selected by the Adviser. The Fund is specifically designed to serve as a completion portfolio and accomplish particular goals within discretionary Managed Equity Portfolios managed by JPMPI or its affiliates (the “Portfolios”). The Adviser utilizes the Fund to express targeted investment views, while taking into consideration positions held at the aggregate level in the Portfolios. As such, the Fund’s allocations and performance should be evaluated in the context of the broader Portfolios and not on a standalone basis.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

During the period January 1, 2022 through June 30, 2022 (the “reporting period”), the Fund posted a negative return on an absolute basis, and underperformed the MSCI World ex USA Index (the “Index”) on a relative basis. References to the Index are for informational purposes. The use of the Index does not imply the Fund is being managed to the Index and is disclosed to allow for comparison of the Fund’s performance to that of a well-known and widely recognized index.

Consumer Discretionary, Health Care and Information Technology sectors comprised approximately 45% of the Fund’s sector exposure on a look-through basis at the end of the reporting period, and were the Fund’s largest sector overweights relative to the Index. All three sectors detracted from the Fund’s

performance on an absolute basis. However, relative to the index, Health Care contributed while Consumer Discretionary and Information Technology detracted from performance.

Communication Services, Materials, Industrials and Financials comprised approximately 34% of the Fund’s sector exposure on a look-through basis at the end of the reporting period, and were the Fund’s largest sector underweights relative to the Index. All four sectors detracted from the Fund’s performance on an absolute basis. Relative to the index, Materials contributed to performance while Industrials, Financials and Communication Services detracted.

On an allocation level, the Fund’s allocation to Swiss Pharmaceuticals was the largest contributor, while the allocation to Europe Textile Luxury Goods was the largest detractor from the Fund’s return on an absolute basis during the reporting period.

HOW WAS THE FUND POSITIONED?

At the end of the reporting period, the Fund was allocated to seventeen strategies managed by one Sub-Adviser, across various sector and sub-industry exposures as follows.


PORTFOLIO ALLOCATION***
Europe Financials	14	%
Europe Pharmaceuticals	14
Europe Textiles Luxury Goods	12
Europe Industrials	10
Europe Integrated Oil & Gas	7
Europe Semiconductors	7
Europe Food Products	6
Europe Automobiles	5
Europe	4
European Metals & Mining	4
Japan Consumer Electronics	4
Europe ex-UK Utilities	3
Swiss Food Products	3
Japan Interactive Home Entertainment	2
Korea Technology, Hardware, Storage & Peripherals	2
Pacific ex-Japan	2
Canada	1

The return shown is based on the net asset value calculated for shareholder transactions. Certain adjustments were made to the net assets of the Fund at June 30, 2022 for financial reporting

purposes, and as a result, the net asset value for shareholder transactions and the total return based on that net asset value may differ from the adjusted net assets and the total return for financial reporting.

The Adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

***

Percentages are based on total investments as of June 30, 2022. The portfolio allocation is subject to change.

Allocation to Europe Financials was approximately 14% of the Fund as of June 30, 2022. The Adviser has conviction in the sector due to improved capital levels, and believes Financials can directly benefit from higher inflation and rates through higher lending costs and better net interest margin.

Allocation to Europe Industrials was approximately 10% of the Fund as of June 30, 2022 and provides an exposure that the Adviser believes will benefit from economic growth and recovery.

The Adviser believes that the allocation to Europe ex-UK Utilities serves as a defensive position with exposure to renewable energy, which helps diversify against European Energy positions and provides a growth dynamic to the sector. This allocation was approximately 3% of the Fund as of June 30, 2022.

Allocation to European Food Products was approximately 6% of the fund as of June 30, 2022 and serves as a defensive position, allowing the Adviser access to a concentrated index of high-quality European companies.

The Adviser believes that companies within the Europe Semiconductors sector have reasonable valuations making the sector very attractive. Following the theme of electrification, demand for semis and semi equipment may likely increase. The sector comprised approximately 7% of the Fund as of June 30, 2022.

The allocation to Europe Metals and Mining provides what the Adviser believes is a cyclical exposure to companies with strong balance sheets. The allocation was approximately 4% of the Fund as of June 30, 2022.

European Equities sector has exposure to companies with secular tailwinds and a large concentration in semiconductors. This allocation comprised approximately 4% of the Fund as of June 30, 2022.

The Adviser believes that companies in the Europe Textiles Luxury Goods sector are high quality consumer-oriented companies within the Consumer Discretionary sector, and provides for the cyclical exposure in Europe expected to perform well as the global economy continues to recover. This allocation comprised approximately 12% of the Fund as of June 30, 2022.

Allocation to Europe Integrated Oil & Gas provides exposure to a cyclical industry that the Adviser believes will take advantage of the early cycle environment, and comprised approximately 7% of the Fund as of June 30, 2022.

The Adviser believes that the allocation to Japan Consumer Electronics provides exposure to high quality Japanese Equity companies with evolving business models. The allocation was approximately 4% of the Fund as of June 30, 2022.

The Adviser believes that the allocation to Japan Interactive Home Entertainment provides exposure to companies that have quality earnings potential that may be underappreciated by the market. The allocation was approximately 2% of the Fund as of June 30, 2022.

The allocation to Korea Technology, Hardware, Storage and Peripherals provides what the Adviser believes is exposure to a strong player within the global technology supply chain. The allocation was approximately 2% of the Fund as of June 30, 2022.

Allocation to Swiss Food Products was approximately 3% of the fund as of June 30, 2022 and serves as a defensive position, allowing the Adviser access to a concentrated index of high-quality Swiss companies.

Allocations to Pacific ex-Japan and Canada comprised approximately 2% & 1% of the fund respectively as of June 30, 2022. The Adviser believes that these allocations provide for the diversification of the regional exposure.

AVERAGE ANNUAL TOTAL RETURNS
AS OF JUNE 30, 2022

6 Months*

1 Year

Since

Inception
(April 10, 2019)

Six Circles Managed Equity Portfolio International Unconstrained Fund

(19.15)%

(14.42)%

3.13%

*	Not Annualized

GROWTH OF $10,000 REPORT (04/10/2019 to 06/30/2022)

LOGO

¹⁾

The allocation of the various strategies employed by the Fund may shift and therefore, the performance shown may not be a true indication of how the Fund may perform going forward. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. As of the latest prospectus, the gross and net expense ratios for the Fund were 0.32% and 0.12% respectively. Contact your J.P. Morgan representative or call 1-212-464-2070 for the most recent month-end performance.

The Fund commenced operations on April 10, 2019.

The graph illustrates comparative performance for $10,000 invested in the Six Circles Managed Equity Portfolio International Unconstrained Fund and the MSCI World ex-USA Index from April 10, 2019 to June 30, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the MSCI World ex-USA Index does not reflect the deduction of

expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — 99.6%
Basic Materials — 0.8%
Chemicals — 0.6%
Air Products & Chemicals, Inc.		15		3,598
Albemarle Corp.		7		1,538
Celanese Corp., Class A		8		883
CF Industries Holdings, Inc.		14		1,171
Dow, Inc.		50		2,573
DuPont de Nemours, Inc.		36		1,994
Eastman Chemical Co.		10		928
Ecolab, Inc.		19		2,869
FMC Corp.		8		860
International Flavors & Fragrances, Inc.		18		2,094
Linde plc, (United Kingdom)		33		9,628
LyondellBasell Industries NV, Class A		19		1,636
Mosaic Co. (The)		25		1,197
PPG Industries, Inc.		17		1,917
RPM International, Inc.		8		642
Sherwin-Williams Co. (The)		18		3,960
Westlake Corp.		3		320


				37,808

Forest Products & Paper — 0.0% (g)
International Paper Co.		25		1,054


Iron/Steel — 0.1%
Cleveland-Cliffs, Inc. (a)		33		515
Nucor Corp.		21		2,184
Steel Dynamics, Inc.		15		969


				3,668

Mining — 0.1%
Alcoa Corp.		10		464
Freeport-McMoRan, Inc.		100		2,912
Newmont Corp.		50		2,967


				6,343

Total Basic Materials				48,873

Communications — 18.2%
Advertising — 0.1%
Interpublic Group of Cos., Inc. (The)		50		1,366
Omnicom Group, Inc.		26		1,676
Trade Desk, Inc. (The), Class A (a)		112		4,691


				7,733

Internet — 15.0%
Airbnb, Inc., Class A (a)		24		2,102
Alphabet, Inc., Class A (a)		95		206,243
Alphabet, Inc., Class C (a)		89		195,549
Amazon.com, Inc. (a)		2,596		275,719
Booking Holdings, Inc. (a)		3		5,387
CDW Corp.		107		16,827
Chewy, Inc., Class A (a)		26		913
DoorDash, Inc., Class A (a)		54		3,446


SECURITY DESCRIPTION	SHARES		VALUE($)

Internet — continued
eBay, Inc.		165		6,871
Etsy, Inc. (a)		34		2,478
Expedia Group, Inc. (a)		10		935
F5, Inc. (a)		10		1,533
GoDaddy, Inc., Class A (a)		16		1,107
IAC/InterActiveCorp. (a)		26		1,971
Lyft, Inc., Class A (a)		21		274
Marqeta, Inc., Class A (a)		54		441
Match Group, Inc. (a)		88		6,101
MercadoLibre, Inc., (Argentina) (a)		13		8,047
Meta Platforms, Inc., Class A (a)		727		117,251
Netflix, Inc. (a)		58		10,217
NortonLifeLock, Inc.		139		3,051
Okta, Inc., Class A (a)		16		1,487
Palo Alto Networks, Inc. (a)		25		12,221
Pinterest, Inc., Class A (a)		184		3,349
Roku, Inc., Class A (a)		17		1,358
Snap, Inc., Class A (a)		349		4,578
Twitter, Inc. (a)		249		9,302
Uber Technologies, Inc. (a)		119		2,428
VeriSign, Inc. (a)		10		1,727
Wayfair, Inc., Class A (a)		23		994
Zendesk, Inc. (a)		30		2,189
Zillow Group, Inc., Class C (a)		16		518


				906,614

Media — 1.2%
Cable One, Inc.		1		723
Charter Communications, Inc., Class A (a)		16		7,471
Comcast Corp., Class A		544		21,350
DISH Network Corp., Class A (a)		33		598
FactSet Research Systems, Inc.		8		2,953
Fox Corp., Class A		42		1,344
Fox Corp., Class B		20		609
Liberty Broadband Corp., Class C (a)		18		2,074
Liberty Global plc, (United Kingdom), Class A (a)		28		589
Liberty Global plc, (United Kingdom), Class C (a)		47		1,046
Liberty Media Corp.-Liberty Formula One, Class C (a)		28		1,800
Liberty Media Corp.-Liberty SiriusXM, Class A		12		432
Liberty Media Corp.-Liberty SiriusXM, Class C (a)		24		882
News Corp., Class A		56		868
Paramount Global, Class B		79		1,956
Sirius XM Holdings, Inc.		91		555
Walt Disney Co. (The) (a)		238		22,453
Warner Bros Discovery, Inc. (a)		278		3,726


				71,429


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Telecommunications — 1.9%
Arista Networks, Inc. (a)		39		3,680
AT&T, Inc.		862		18,061
Cisco Systems, Inc.		637		27,166
Corning, Inc.		636		20,046
Juniper Networks, Inc.		50		1,416
Lumen Technologies, Inc.		125		1,362
Motorola Solutions, Inc.		26		5,516
T-Mobile US, Inc. (a)		82		11,025
Verizon Communications, Inc.		505		25,608


				113,880

Total Communications				1,099,656

Consumer Cyclical — 4.3%
Airlines — 0.8%
Delta Air Lines, Inc. (a)		760		22,021
Southwest Airlines Co. (a)		700		25,294


				47,315

Apparel — 0.2%
NIKE, Inc., Class B		96		9,809
VF Corp.		26		1,138


				10,947

Auto Manufacturers — 0.9%
Cummins, Inc.		10		1,963
Ford Motor Co.		266		2,963
General Motors Co. (a)		93		2,969
Lucid Group, Inc. (a)		24		416
PACCAR, Inc.		25		2,037
Rivian Automotive, Inc., Class A (a)		11		288
Tesla, Inc. (a)		65		43,726


				54,362

Auto Parts & Equipment — 0.1%
Aptiv plc, (Ireland) (a)		22		1,992
BorgWarner, Inc.		18		589
Lear Corp.		5		582


				3,163

Distribution/Wholesale — 0.1%
Copart, Inc. (a)		18		1,948
Fastenal Co.		37		1,840
LKQ Corp.		13		639
Pool Corp.		3		945
WW Grainger, Inc.		4		1,705


				7,077

Entertainment — 0.1%
AMC Entertainment Holdings, Inc., Class A (a)		70		942
Caesars Entertainment, Inc. (a)		17		639
Live Nation Entertainment, Inc. (a)		22		1,782


SECURITY DESCRIPTION	SHARES			VALUE($)

Entertainment — continued
Vail Resorts, Inc.		4			778


					4,141


Food Service — 0.0% (g)
Aramark		17			512


Home Builders — 0.1%
DR Horton, Inc.		20			1,348
Lennar Corp., Class A		15			1,028
NVR, Inc. (a)		—	(h)		773
PulteGroup, Inc.		11			438


					3,587

Home Furnishings — 0.0% (g)
Whirlpool Corp.		4			672


Housewares — 0.0% (g)
Newell Brands, Inc.		37			707


Leisure Time — 0.0% (g)
Carnival Corp. (a)		73			635
Peloton Interactive, Inc., Class A (a)		31			282
Royal Caribbean Cruises Ltd. (a)		19			678


					1,595

Lodging — 0.1%
Hilton Worldwide Holdings, Inc.		22			2,420
Las Vegas Sands Corp. (a)		25			841
Marriott International, Inc., Class A		22			2,965
MGM Resorts International		26			742
Wynn Resorts Ltd. (a)		9			521


					7,489

Retail — 1.9%
Advance Auto Parts, Inc.		3			506
AutoZone, Inc. (a)		1			3,129
Bath & Body Works, Inc.		17			446
Best Buy Co., Inc.		17			1,095
Burlington Stores, Inc. (a)		4			581
CarMax, Inc. (a)		13			1,150
Carvana Co., Class A (a)		13			293
Chipotle Mexican Grill, Inc., Class A (a)		2			2,511
Costco Wholesale Corp.		33			15,892
Darden Restaurants, Inc.		9			1,055
Dollar General Corp.		14			3,482
Dollar Tree, Inc. (a)		16			2,516
Domino’s Pizza, Inc.		2			970
Genuine Parts Co.		9			1,140
Home Depot, Inc. (The)		77			21,148
Lowe’s Cos., Inc.		42			7,334


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Retail — continued
Lululemon Athletica, Inc., (Canada) (a)		9		2,464
McDonald’s Corp.		47		11,535
O’Reilly Automotive, Inc. (a)		5		2,951
Ross Stores, Inc.		24		1,652
Starbucks Corp.		88		6,700
Target Corp.		30		4,266
TJX Cos., Inc. (The)		80		4,448
Tractor Supply Co.		8		1,548
Ulta Beauty, Inc. (a)		4		1,461
Walgreens Boots Alliance, Inc.		52		1,961
Walmart, Inc.		98		11,951
Yum! Brands, Inc.		19		2,125


				116,310

Toys/Games/Hobbies — 0.0% (g)
Hasbro, Inc.		10		848

Total Consumer Cyclical				258,725

Consumer Non-cyclical — 24.2%
Agriculture — 0.3%
Altria Group, Inc.		114		4,756
Archer-Daniels-Midland Co.		38		2,959
Bunge Ltd.		10		925
Philip Morris International, Inc.		97		9,614


				18,254

Beverages — 2.1%
Brown-Forman Corp., Class B		61		4,300
Coca-Cola Co. (The)		824		51,829
Constellation Brands, Inc., Class A		33		7,618
Keurig Dr Pepper, Inc.		153		5,404
Molson Coors Beverage Co., Class B		40		2,170
Monster Beverage Corp. (a)		82		7,581
PepsiCo., Inc.		276		45,973


				124,875

Biotechnology — 1.7%
Alnylam Pharmaceuticals, Inc. (a)		21		2,998
Amgen, Inc.		95		23,107
Biogen, Inc. (a)		26		5,293
BioMarin Pharmaceutical, Inc. (a)		33		2,725
Bio-Rad Laboratories, Inc., Class A (a)		6		2,948
Corteva, Inc.		50		2,689
Gilead Sciences, Inc.		215		13,306
Horizon Therapeutics Plc (a)		38		2,994
Illumina, Inc. (a)		41		7,506
Incyte Corp. (a)		31		2,361
Moderna, Inc. (a)		62		8,873
Regeneron Pharmaceuticals, Inc. (a)		18		10,923
Royalty Pharma plc, Class A		19		784
Seagen, Inc. (a)		26		4,602
Vertex Pharmaceuticals, Inc. (a)		46		13,031


				104,140


SECURITY DESCRIPTION	SHARES		VALUE($)

Commercial Services — 1.9%
Affirm Holdings, Inc., Class A (a)		47		853
AMERCO		1		406
Automatic Data Processing, Inc.		108		22,760
Block, Inc., Class A (a)		136		8,346
Booz Allen Hamilton Holding Corp., Class A		11		1,028
Cass Information Systems, Inc.		2		58
Cintas Corp.		7		2,789
Clarivate plc, (United Kingdom) (a)		32		447
CoStar Group, Inc. (a)		27		1,637
Equifax, Inc.		10		1,738
Euronet Worldwide, Inc. (a)		8		772
EVERTEC, Inc., (Puerto Rico)		9		350
Evo Payments, Inc., Class A (a)		7		159
FleetCor Technologies, Inc. (a)		21		4,331
Gartner, Inc. (a)		9		2,240
Global Payments, Inc.		72		7,969
I3 Verticals, Inc., Class A (a)		4		90
MarketAxess Holdings, Inc.		9		2,198
MoneyGram International, Inc. (a)		12		123
Moody’s Corp.		31		8,366
Paya Holdings, Inc. (a)		13		85
Paymentus Holdings, Inc., Class A (a)		2		32
Payoneer Global, Inc. (a)		29		114
PayPal Holdings, Inc. (a)		290		20,227
Quanta Services, Inc.		10		1,208
Remitly Global, Inc. (a)		12		95
Repay Holdings Corp., Class A (a)		12		149
Robert Half International, Inc.		8		624
Rollins, Inc.		12		426
S&P Global, Inc.		61		20,685
Sabre Corp. (a)		45		262
Shift4 Payments, Inc., Class A (a)		7		243
TransUnion		12		968
United Rentals, Inc. (a)		5		1,292
Verisk Analytics, Inc., Class A		11		1,854
WEX, Inc. (a)		7		1,047


				115,971

Cosmetics/Personal Care — 0.5%
Colgate-Palmolive Co.		52		4,199
Estee Lauder Cos., Inc. (The), Class A		18		4,596
Procter & Gamble Co. (The)		155		22,263


				31,058

Food — 0.4%
Campbell Soup Co.		17		800
Conagra Brands, Inc.		35		1,189
General Mills, Inc.		41		3,128
Hershey Co. (The)		8		1,799
Hormel Foods Corp.		20		955
J M Smucker Co. (The)		9		1,113


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Food — continued
Kellogg Co.		17		1,246
Kraft Heinz Co. (The)		49		1,876
Kroger Co. (The)		45		2,118
McCormick & Co., Inc.		16		1,312
Mondelez International, Inc., Class A		91		5,677
Sysco Corp.		39		3,273
Tyson Foods, Inc., Class A		21		1,813


				26,299

Healthcare — Products — 3.0%
Abbott Laboratories		113		12,327
ABIOMED, Inc. (a)		3		650
Align Technology, Inc. (a)		6		1,405
Avantor, Inc. (a)		157		4,877
Baxter International, Inc.		30		1,938
Bio-Techne Corp.		10		3,461
Boston Scientific Corp. (a)		91		3,395
Cooper Cos., Inc. (The)		4		1,122
Danaher Corp.		177		44,975
DENTSPLY SIRONA, Inc.		20		704
Edwards Lifesciences Corp. (a)		45		4,323
Exact Sciences Corp. (a)		31		1,213
Henry Schein, Inc. (a)		9		718
Hologic, Inc. (a)		16		1,118
IDEXX Laboratories, Inc. (a)		6		2,062
Insulet Corp. (a)		4		975
Intuitive Surgical, Inc. (a)		27		5,486
Masimo Corp. (a)		5		594
Medtronic plc, (Ireland)		87		7,812
Novocure Ltd., (Jersey) (a)		7		457
PerkinElmer, Inc.		32		4,595
ResMed, Inc.		10		2,142
STERIS plc		6		1,299
Stryker Corp.		22		4,467
Teleflex, Inc.		3		848
Thermo Fisher Scientific, Inc.		103		55,880
Waters Corp. (a)		16		5,209
West Pharmaceutical Services, Inc.		19		5,872
Zimmer Biomet Holdings, Inc.		14		1,481


				181,405

Healthcare — Services — 5.7%
Catalent, Inc. (a)		51		5,500
Centene Corp. (a)		255		21,615
Charles River Laboratories International, Inc. (a)		13		2,778
DaVita, Inc. (a)		3		272
Elevance Health, Inc.		106		51,139
HCA Healthcare, Inc.		15		2,439
Humana, Inc.		57		26,591
IQVIA Holdings, Inc. (a)		51		11,103
Laboratory Corp. of America Holdings		6		1,386
Molina Healthcare, Inc. (a)		26		7,235


SECURITY DESCRIPTION	SHARES		VALUE($)

Healthcare — Services — continued
Quest Diagnostics, Inc.		7		881
Teladoc Health, Inc. (a)		16		528
UnitedHealth Group, Inc.		413		212,230
Universal Health Services, Inc., Class B		5		501


				344,198

Household Products/Wares — 0.1%
Avery Dennison Corp.		6		975
Church & Dwight Co., Inc.		14		1,319
Clorox Co. (The)		9		1,209
Kimberly-Clark Corp.		21		2,813


				6,316

Pharmaceuticals — 8.5%
AbbVie, Inc.		299		45,846
AmerisourceBergen Corp., Class A		9		1,315
Becton Dickinson and Co.		19		4,655
Bristol-Myers Squibb Co.		610		46,974
Cardinal Health, Inc.		21		1,072
Cigna Corp.		20		5,346
CVS Health Corp.		85		7,841
Dexcom, Inc. (a)		26		1,961
Elanco Animal Health, Inc. (a)		23		444
Eli Lilly & Co.		235		76,219
Jazz Pharmaceuticals plc, (Ireland) (a)		3		403
Johnson & Johnson		754		133,855
McKesson Corp.		11		3,432
Merck & Co., Inc.		726		66,184
Neurocrine Biosciences, Inc. (a)		17		1,612
Organon & Co.		57		1,911
Pfizer, Inc.		1,611		84,450
Viatris, Inc.		364		3,810
Zoetis, Inc., Class A		139		23,871


				511,201

Total Consumer Non-cyclical				1,463,717

Energy — 4.1%
Energy — Alternate Sources — 0.1%
Enphase Energy, Inc. (a)		23		4,458
Plug Power, Inc. (a)		33		540
SolarEdge Technologies, Inc., (Israel) (a)		9		2,358


				7,356

Oil & Gas — 3.3%
APA Corp.		62		2,150
Chevron Corp.		323		46,727
ConocoPhillips		216		19,370
Coterra Energy, Inc.		128		3,312
Devon Energy Corp.		102		5,603
Diamondback Energy, Inc.		28		3,357
EOG Resources, Inc.		98		10,821
EQT Corp.		56		1,914


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Oil & Gas — continued
Exxon Mobil Corp.		701		60,044
Hess Corp.		49		5,168
Marathon Oil Corp.		126		2,826
Marathon Petroleum Corp.		95		7,769
Occidental Petroleum Corp.		152		8,963
Phillips 66		81		6,634
Pioneer Natural Resources Co.		39		8,616
Valero Energy Corp.		66		7,060


				200,334

Oil & Gas Services — 0.3%
Baker Hughes Co., Class A		167		4,831
Halliburton Co.		152		4,775
Schlumberger NV		249		8,919


				18,525

Pipelines — 0.4%
Cheniere Energy, Inc.		35		4,664
Kinder Morgan, Inc.		335		5,614
ONEOK, Inc.		72		3,991
Targa Resources Corp.		36		2,172
Williams Cos., Inc. (The)		195		6,093


				22,534

Total Energy				248,749

Financial — 12.3%
Banks — 3.2%
Bank of America Corp.		1,164		36,245
Bank of New York Mellon Corp. (The)		139		5,786
Citigroup, Inc.		327		15,050
Citizens Financial Group, Inc.		100		3,568
Fifth Third Bancorp		131		4,407
First Citizens BancShares, Inc., Class A		3		2,027
First Republic Bank		33		4,703
Goldman Sachs Group, Inc. (The)		56		16,530
Huntington Bancshares, Inc.		281		3,385
KeyCorp.		193		3,325
M&T Bank Corp.		32		5,154
Morgan Stanley		220		16,706
Northern Trust Corp.		40		3,832
PNC Financial Services Group, Inc. (The)		71		11,155
Regions Financial Corp.		183		3,440
Signature Bank		14		2,597
State Street Corp.		70		4,315
SVB Financial Group (a)		11		4,522
Truist Financial Corp.		225		10,686
US Bancorp		238		10,950
Webster Financial Corp.		45		1,894
Wells Fargo & Co.		617		24,152


				194,429


SECURITY DESCRIPTION	SHARES		VALUE($)

Diversified Financial Services — 4.4%
Ally Financial, Inc.		77		2,570
American Express Co.		113		15,688
Ameriprise Financial, Inc.		21		5,075
Apollo Global Management, Inc.		76		3,690
BlackRock, Inc., Class A		2		1,151
Bread Financial Holdings, Inc.		7		277
Capital One Financial Corp.		72		7,546
Cboe Global Markets, Inc.		22		2,496
Charles Schwab Corp. (The)		239		15,071
CME Group, Inc., Class A		61		12,385
Coinbase Global, Inc., Class A (a)		22		1,034
Discover Financial Services		53		5,038
Flywire Corp. (a)		5		80
Franklin Resources, Inc.		82		1,901
Intercontinental Exchange, Inc.		96		9,075
International Money Express, Inc. (a)		5		101
Invesco Ltd.		97		1,568
LPL Financial Holdings, Inc.		14		2,602
Mastercard, Inc., Class A		227		71,734
Nasdaq, Inc.		23		3,448
Raymond James Financial, Inc.		34		3,075
SEI Investments Co.		32		1,729
Synchrony Financial		107		2,946
T Rowe Price Group, Inc.		43		4,912
Tradeweb Markets, Inc., Class A		23		1,586
Upstart Holdings, Inc. (a)		13		404
Visa, Inc., Class A		432		85,040
Western Union Co. (The)		111		1,826


				264,048

Insurance — 3.3%
Aflac, Inc.		113		6,249
Alleghany Corp. (a)		3		2,508
Allstate Corp. (The)		50		6,377
American Financial Group, Inc.		15		2,020
American International Group, Inc.		142		7,251
Aon plc, Class A		38		10,202
Arch Capital Group Ltd., (Bermuda) (a)		63		2,881
Arthur J Gallagher & Co.		37		6,058
Assurant, Inc.		10		1,643
Berkshire Hathaway, Inc., Class B (a)		205		56,003
Brown & Brown, Inc.		39		2,287
Chubb Ltd., (Switzerland)		66		13,038
Cincinnati Financial Corp.		30		3,589
Equitable Holdings, Inc.		89		2,308
Erie Indemnity Co., Class A		5		992
Everest Re Group Ltd., (Bermuda)		8		2,270
Fidelity National Financial, Inc.		60		2,236
Globe Life, Inc.		20		1,943
Hartford Financial Services Group, Inc. (The)		65		4,240
Lincoln National Corp.		40		1,851


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Insurance — continued
Loews Corp.		42		2,471
Markel Corp. (a)		3		3,404
Marsh & McLennan Cos., Inc.		86		13,301
MetLife, Inc.		123		7,726
Principal Financial Group, Inc.		46		3,086
Progressive Corp. (The)		98		11,443
Prudential Financial, Inc.		66		6,339
Travelers Cos., Inc. (The)		43		7,201
Willis Towers Watson plc, (United Kingdom)		22		4,383
WR Berkley Corp.		34		2,304


				197,604

Private Equity — 0.3%
Blackstone, Inc.		120		10,963
Carlyle Group, Inc. (The)		40		1,264
KKR & Co., Inc.		103		4,776


				17,003

Real Estate — 0.0% (g)
CBRE Group, Inc., Class A (a)		26		1,908

REITS — 1.1%
Alexandria Real Estate Equities, Inc.		8		1,199
American Homes 4 Rent, Class A		21		728
American Tower Corp.		32		8,129
Annaly Capital Management, Inc.		283		1,672
AvalonBay Communities, Inc.		10		1,932
Boston Properties, Inc.		8		738
Camden Property Trust		5		721
Crown Castle International Corp.		28		4,734
Digital Realty Trust, Inc.		20		2,534
Duke Realty Corp.		20		1,125
Equinix, Inc.		7		4,652
Equity LifeStyle Properties, Inc.		10		705
Equity Residential		26		1,872
Essex Property Trust, Inc.		4		1,014
Extra Space Storage, Inc.		8		1,360
Healthpeak Properties, Inc.		28		737
Host Hotels & Resorts, Inc.		43		673
Invitation Homes, Inc.		34		1,195
Iron Mountain, Inc.		14		695
Kimco Realty Corp.		30		599
Medical Properties Trust, Inc.		34		514
Mid-America Apartment Communities, Inc.		7		1,175
Prologis, Inc.		46		5,402
Public Storage		10		3,110
Realty Income Corp.		36		2,449
Regency Centers Corp.		7		415
SBA Communications Corp., Class A		8		2,441
Simon Property Group, Inc.		21		1,986
Sun Communities, Inc.		7		1,072
UDR, Inc.		19		858


SECURITY DESCRIPTION	SHARES		VALUE($)

REITS — continued
Ventas, Inc.		27		1,411
VICI Properties, Inc.		64		1,911
Vornado Realty Trust		12		333
Welltower, Inc.		27		2,252
Weyerhaeuser Co.		54		1,785
WP Carey, Inc.		10		838


				64,966

Total Financial				739,958

Industrial — 8.5%
Aerospace/Defense — 0.8%
Boeing Co. (The) (a)		43		5,819
General Dynamics Corp.		16		3,442
HEICO Corp.		3		348
HEICO Corp., Class A		6		598
Howmet Aerospace, Inc.		31		964
L3Harris Technologies, Inc.		11		2,768
Lockheed Martin Corp.		16		6,887
Northrop Grumman Corp.		10		4,699
Raytheon Technologies Corp.		97		9,304
Teledyne Technologies, Inc. (a)		37		14,039
TransDigm Group, Inc. (a)		4		1,917


				50,785

Building Materials — 0.2%
Carrier Global Corp.		59		2,094
Fortune Brands Home & Security, Inc.		12		709
Johnson Controls International plc		49		2,335
Lennox International, Inc.		3		641
Martin Marietta Materials, Inc.		4		1,297
Masco Corp.		18		919
Mohawk Industries, Inc. (a)		4		476
Owens Corning		7		557
Vulcan Materials Co.		10		1,480


				10,508

Electrical Components & Equipment — 0.1%
AMETEK, Inc.		17		1,908
Emerson Electric Co.		40		3,197
Generac Holdings, Inc. (a)		5		1,022


				6,127

Electronics — 2.1%
Agilent Technologies, Inc.		81		9,578
Allegion plc, (Ireland)		5		517
Amphenol Corp., Class A		471		30,339
Arrow Electronics, Inc. (a)		54		6,088
Fortive Corp.		25		1,381
Garmin Ltd., (Switzerland)		12		1,177
Honeywell International, Inc.		45		7,742
Keysight Technologies, Inc. (a)		147		20,230
Mettler-Toledo International, Inc. (a)		6		6,848


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Electronics — continued
Sensata Technologies Holding plc		12		516
TE Connectivity Ltd.		257		29,102
Trimble, Inc. (a)		200		11,665


				125,183

Engineering & Construction — 0.0% (g)
Jacobs Engineering Group, Inc.		9		1,175

Environmental Control — 0.2%
Pentair plc, (United Kingdom)		12		552
Republic Services, Inc., Class A		16		2,059
Waste Connections, Inc.		19		2,365
Waste Management, Inc.		29		4,465


				9,441

Hand/Machine Tools — 0.0% (g)
Snap-on, Inc.		4		756
Stanley Black & Decker, Inc.		12		1,285


				2,041

Machinery — Construction & Mining — 0.1%
Caterpillar, Inc.		37		6,594

Machinery — Diversified — 0.4%
Cognex Corp.		138		5,860
Deere & Co.		22		6,598
Dover Corp.		10		1,222
IDEX Corp.		5		945
Ingersoll Rand, Inc.		25		1,035
Nordson Corp.		3		507
Otis Worldwide Corp.		29		2,065
Rockwell Automation, Inc.		9		1,777
Westinghouse Air Brake Technologies Corp.		12		989
Xylem, Inc.		15		1,158


				22,156

Miscellaneous Manufacturers — 0.4%
3M Co.		38		4,876
AO Smith Corp.		11		597
Eaton Corp. plc		27		3,383
General Electric Co.		84		5,340
Illinois Tool Works, Inc.		21		3,810
Parker-Hannifin Corp.		9		2,211
Textron, Inc.		16		953
Trane Technologies plc, (Ireland)		19		2,448


				23,618

Packaging & Containers — 0.1%
Amcor plc, (United Kingdom)		104		1,288
Ball Corp.		27		1,850
Crown Holdings, Inc.		10		930
Packaging Corp. of America		7		912
Sealed Air Corp.		8		457


SECURITY DESCRIPTION	SHARES		VALUE($)

Packaging & Containers — continued
Westrock Co.		18		727


				6,164

Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc.		3		735

Transportation — 4.1%
CH Robinson Worldwide, Inc.		133		13,486
CSX Corp.		146		4,239
Expeditors International of Washington, Inc.		176		17,159
FedEx Corp.		249		56,452
JB Hunt Transport Services, Inc.		7		1,050
Knight-Swift Transportation Holdings, Inc., Class A		15		685
Norfolk Southern Corp.		16		3,666
Old Dominion Freight Line, Inc.		8		2,077
Union Pacific Corp.		41		8,809
United Parcel Service, Inc., Class B		765		139,605


				247,228

Total Industrial				511,755

Technology — 26.2%
Computers — 7.3%
Accenture plc, (Ireland), Class A		66		18,437
Apple, Inc.		2,664		364,173
Cantaloupe, Inc. (a)		8		46
Cognizant Technology Solutions Corp., Class A		55		3,688
Conduent, Inc. (a)		24		102
Crowdstrike Holdings, Inc., Class A (a)		49		8,317
Dell Technologies, Inc., Class C		49		2,281
EPAM Systems, Inc. (a)		6		1,801
ExlService Holdings, Inc. (a)		5		733
Fortinet, Inc. (a)		172		9,755
Hewlett Packard Enterprise Co.		214		2,833
HP, Inc.		167		5,477
International Business Machines Corp.		90		12,767
Leidos Holdings, Inc.		10		976
Maximus, Inc.		9		591
NetApp, Inc.		33		2,150
Seagate Technology Holdings plc		32		2,256
TaskUS, Inc., Class A (a)		4		61
TTEC Holdings, Inc.		3		199
Western Digital Corp. (a)		51		2,292
Zscaler, Inc. (a)		20		3,043


				441,978

Office/Business Equipment — 0.2%
Zebra Technologies Corp., Class A (a)		42		12,405

Semiconductors — 4.8%
Advanced Micro Devices, Inc. (a)		291		22,241


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Semiconductors — continued
Analog Devices, Inc.		89		12,953
Applied Materials, Inc.		159		14,510
Broadcom, Inc.		69		33,515
Entegris, Inc.		22		2,055
Intel Corp.		689		25,786
KLA Corp.		26		8,402
Lam Research Corp.		25		10,807
Marvell Technology, Inc.		148		6,449
Microchip Technology, Inc.		97		5,649
Micron Technology, Inc.		191		10,575
Monolithic Power Systems, Inc.		8		2,918
NVIDIA Corp.		448		67,839
NXP Semiconductors NV, (Netherlands)		45		6,593
ON Semiconductor Corp. (a)		76		3,835
Qorvo, Inc. (a)		19		1,788
QUALCOMM, Inc.		198		25,337
Skyworks Solutions, Inc.		30		2,741
Teradyne, Inc.		30		2,674
Texas Instruments, Inc.		156		24,002


				290,669

Software — 13.9%
Activision Blizzard, Inc.		102		7,967
Adobe, Inc. (a)		120		43,972
Akamai Technologies, Inc. (a)		17		1,552
ANSYS, Inc. (a)		22		5,190
AppLovin Corp., Class A (a)		31		1,082
Autodesk, Inc. (a)		55		9,527
Avalara, Inc. (a)		21		1,480
AvidXchange Holdings, Inc. (a)		7		45
Bentley Systems, Inc., Class B		43		1,436
Bill.com Holdings, Inc. (a)		23		2,489
Black Knight, Inc. (a)		39		2,544
Broadridge Financial Solutions, Inc.		31		4,416
Cadence Design Systems, Inc. (a)		69		10,367
Ceridian HCM Holding, Inc. (a)		37		1,759
Citrix Systems, Inc.		30		2,919
Cloudflare, Inc., Class A (a)		25		1,072
Concentrix Corp.		7		913
Coupa Software, Inc. (a)		17		993
CSG Systems International, Inc.		5		284
Datadog, Inc., Class A (a)		56		5,317
DocuSign, Inc., Class A (a)		51		2,950
Dropbox, Inc., Class A (a)		67		1,405
Dynatrace, Inc. (a)		53		2,091
Electronic Arts, Inc.		34		4,180
Fair Isaac Corp. (a)		6		2,496
Fidelity National Information Services, Inc.		154		14,107
Fiserv, Inc. (a)		156		13,920
Guidewire Software, Inc. (a)		17		1,206
HubSpot, Inc. (a)		11		3,394
Intuit, Inc.		69		26,465


SECURITY DESCRIPTION	SHARES		VALUE($)

Software — continued
Jack Henry & Associates, Inc.		18		3,197
Microsoft Corp.		1,811		465,177
MongoDB, Inc., Class A (a)		7		1,754
MSCI, Inc., Class A		16		6,419
Oracle Corp.		399		27,876
Palantir Technologies, Inc., Class A (a)		433		3,926
Paychex, Inc.		82		9,341
Paycom Software, Inc. (a)		12		3,450
PTC, Inc. (a)		27		2,920
RingCentral, Inc., Class A (a)		21		1,097
ROBLOX Corp., Class A (a)		44		1,447
Roper Technologies, Inc.		26		10,331
Salesforce, Inc. (a)		248		40,850
ServiceNow, Inc. (a)		51		24,051
Snowflake, Inc., Class A (a)		24		3,328
Splunk, Inc. (a)		39		3,406
SS&C Technologies Holdings, Inc.		58		3,383
Synopsys, Inc. (a)		40		12,018
Take-Two Interactive Software, Inc. (a)		23		2,792
Twilio, Inc., Class A (a)		19		1,589
Tyler Technologies, Inc. (a)		10		3,403
Unity Software, Inc. (a)		47		1,748
Veeva Systems, Inc., Class A (a)		10		2,014
Verra Mobility Corp., Class A (a)		21		331
VMware, Inc., Class A		53		6,095
Workday, Inc., Class A (a)		50		7,027
Zoom Video Communications, Inc., Class A (a)		57		6,132
ZoomInfo Technologies, Inc., Class A (a)		80		2,672


				835,312

Total Technology				1,580,364

Utilities — 1.0%
Electric — 1.0%
AES Corp. (The)		41		861
Alliant Energy Corp.		15		855
Ameren Corp.		15		1,373
American Electric Power Co., Inc.		31		3,012
CenterPoint Energy, Inc.		38		1,115
CMS Energy Corp.		16		1,079
Consolidated Edison, Inc.		22		2,094
Constellation Energy Corp.		23		1,311
Dominion Energy, Inc.		49		3,935
DTE Energy Co.		12		1,492
Duke Energy Corp.		51		5,432
Edison International		25		1,552
Entergy Corp.		13		1,470
Evergy, Inc.		13		852
Eversource Energy		20		1,665
Exelon Corp.		67		3,019
FirstEnergy Corp.		32		1,245


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Electric — continued
NextEra Energy, Inc.		128		9,893
NRG Energy, Inc.		20		754
PG&E Corp. (a)		96		962
PPL Corp.		51		1,376
Public Service Enterprise Group, Inc.		30		1,929
Sempra Energy		19		2,894
Southern Co. (The)		66		4,723
Vistra Corp.		22		505
WEC Energy Group, Inc.		19		1,900
Xcel Energy, Inc.		32		2,265


				59,563

Gas — 0.0% (g)
Atmos Energy Corp.		7		810
NiSource, Inc.		18		545
UGI Corp.		19		726


				2,081

Water — 0.0% (g)
American Water Works Co., Inc.		10		1,519
Essential Utilities, Inc.		12		572

				2,091

Total Utilities				63,735

Total Common Stocks (Cost $6,241,789)				6,015,532


SECURITY DESCRIPTION	PRINCIPAL AMOUNT($)			VALUE($)
Short-Term Investments — 0.5%
Time Deposits — 0.5%
Australia & New Zealand Banking Group Ltd., 0.91%, 07/01/2022		1,227			1,227
Barclays SA, 0.91%, 07/01/2022		1,742			1,742
BNP Paribas SA, 0.91%, 07/01/2022		—	(h)		—	(h)
Brown Brothers Harriman, 0.91%, 07/01/2022		—	(h)		—	(h)
Citibank NA, 0.91%, 07/01/2022		9,449			9,449
Royal Bank of Canada, 0.91%, 07/01/2022		14,293			14,293
Sumitomo Mitsui Trust Bank Ltd., 0.91%, 07/01/2022		1,087			1,087

Total Short-Term Investments (Cost $27,798)					27,798


Total Investments — 100.1% (Cost — $6,269,587) *					6,043,330

Liabilities in Excess of Other Assets — (0.1)%					(5,278	)


NET ASSETS — 100.0%				$	6,038,052

Percentages indicated are based on net assets

Summary of Investments by Industry, June 30, 2022

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Internet		15.0	%

Software		13.8	%

Pharmaceuticals		8.4	%

Computers		7.3	%

Healthcare — Services		5.7	%

Semiconductors		4.8	%

Diversified Financial Services		4.4	%

Transportation		4.1	%

Oil & Gas		3.3	%

Insurance		3.3	%

Banks		3.2	%

Healthcare — Products		3.0	%

Electronics		2.1	%

Beverages		2.1	%

Retail		1.9	%

Commercial Services		1.9	%

Telecommunications		1.9	%

Biotechnology		1.7	%

Media		1.2	%

REITS		1.1	%

Others (Each less than 1.0%)		9.3	%

Short-Term Investments		0.5	%


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — 97.8%
Australia — 1.4%
Ampol Ltd.		9		219
APA Group		46		358
Aristocrat Leisure Ltd.		24		559
ASX Ltd.		8		428
Aurizon Holdings Ltd.		72		189
Australia & New Zealand Banking Group Ltd.		109		1,666
BHP Group Ltd.		197		5,654
BlueScope Steel Ltd.		19		211
Brambles Ltd.		56		414
Cochlear Ltd.		3		351
Coles Group Ltd.		52		642
Commonwealth Bank of Australia		67		4,159
Computershare Ltd.		21		363
CSL Ltd.		19		3,489
Dexus		42		258
Domino’s Pizza Enterprises Ltd.		2		112
Endeavour Group Ltd.		53		276
Evolution Mining Ltd.		72		117
Fortescue Metals Group Ltd.		66		794
Goodman Group		66		810
GPT Group (The)		75		219
IDP Education Ltd.		8		134
Insurance Australia Group Ltd.		96		289
Lendlease Corp. Ltd.		27		169
Lottery Corp. Ltd. (The) (a)		89		278
Macquarie Group Ltd.		14		1,619
Medibank Pvt Ltd.		108		243
Mineral Resources Ltd.		7		221
Mirvac Group		154		210
National Australia Bank Ltd.		126		2,392
Newcrest Mining Ltd.		35		495
Northern Star Resources Ltd.		45		212
Orica Ltd.		16		173
Origin Energy Ltd.		68		272
Qantas Airways Ltd. (a)		36		110
QBE Insurance Group Ltd.		58		484
Ramsay Health Care Ltd.		7		361
REA Group Ltd.		2		158
Reece Ltd.		9		83
Rio Tinto Ltd.		14		1,033
Santos Ltd.		126		636
Scentre Group		202		362
SEEK Ltd.		13		190
Sonic Healthcare Ltd.		18		404
South32 Ltd.		181		491
Stockland		93		233
Suncorp Group Ltd.		49		376
Telstra Corp. Ltd.		161		427
Transurban Group		120		1,192
Treasury Wine Estates Ltd.		28		221
Vicinity Centres		149		190


SECURITY DESCRIPTION	SHARES			VALUE($)

Australia — continued
Washington H Soul Pattinson & Co. Ltd.		8			138
Wesfarmers Ltd.		44			1,280
Westpac Banking Corp.		137			1,842
WiseTech Global Ltd.		6			150
Woodside Energy Group Ltd.		74			1,616
Woolworths Group Ltd.		47			1,161


					41,133

Austria — 0.3%
Erste Group Bank AG		104			2,646
OMV AG		55			2,571
Verbund AG		20			1,936
voestalpine AG		75			1,594


					8,747

Belgium — 0.6%
Ageas SA		49			2,168
Anheuser-Busch InBev SA		12			632
D’ieteren Group		—	(h)		49
Elia Group SA		10			1,358
Groupe Bruxelles Lambert SA		31			2,586
KBC Group NV		76			4,262
Proximus SADP		2			30
Sofina SA		5			971
Solvay SA		1			86
UCB SA		46			3,909
Umicore SA		3			98
Warehouses De Pauw CVA		2			62


					16,211

Canada — 1.2%
Agnico Eagle Mines Ltd.		9			396
Air Canada (a)		3			41
Algonquin Power & Utilities Corp.		13			171
Alimentation Couche-Tard, Inc.		16			628
AltaGas Ltd.		5			112
ARC Resources Ltd.		13			164
Bank of Montreal		12			1,186
Bank of Nova Scotia (The)		23			1,369
Barrick Gold Corp.		34			599
BCE, Inc.		1			68
BlackBerry Ltd. (a)		10			56
Brookfield Asset Management, Inc., Class A		27			1,195
BRP, Inc.		1			44
CAE, Inc. (a)		6			151
Cameco Corp.		8			161
Canadian Apartment Properties REIT		2			56
Canadian Imperial Bank of Commerce		17			833
Canadian National Railway Co.		11			1,274
Canadian Natural Resources Ltd.		22			1,203
Canadian Pacific Railway Ltd.		18			1,236
Canadian Tire Corp. Ltd., Class A		1			137


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
Canada — continued
Canadian Utilities Ltd., Class A		2			72
CCL Industries, Inc., Class B		3			136
Cenovus Energy, Inc.		26			503
CGI, Inc. (a)		4			330
Constellation Software, Inc.		—	(h)		569
Dollarama, Inc.		5			309
Emera, Inc.		5			232
Empire Co. Ltd.		3			96
Enbridge, Inc.		39			1,628
Fairfax Financial Holdings Ltd.		—	(h)		251
First Quantum Minerals Ltd.		11			211
FirstService Corp.		1			91
Fortis, Inc.		9			423
Franco-Nevada Corp.		4			476
George Weston Ltd.		1			166
GFL Environmental, Inc.		3			90
Gildan Activewear, Inc., Class A		4			104
Great-West Lifeco, Inc.		5			132
Hydro One Ltd. (e)		6			168
iA Financial Corp., Inc.		2			101
IGM Financial, Inc.		2			43
Imperial Oil Ltd.		4			209
Intact Financial Corp.		3			471
Ivanhoe Mines Ltd., Class A (a)		11			66
Keyera Corp.		4			96
Kinross Gold Corp.		24			84
Lightspeed Commerce, Inc. (a)		3			56
Loblaw Cos. Ltd.		3			285
Lundin Mining Corp.		12			79
Magna International, Inc.		5			297
Manulife Financial Corp.		37			641
Metro, Inc.		5			245
National Bank of Canada		6			421
Northland Power, Inc.		4			128
Nutrien Ltd.		10			835
Nuvei Corp. (a)		1			46
Onex Corp.		1			72
Open Text Corp.		5			194
Pan American Silver Corp.		4			78
Parkland Corp. (a)		3			80
Pembina Pipeline Corp.		10			368
Power Corp. of Canada		11			273
Quebecor, Inc., Class B		3			66
Restaurant Brands International, Inc.		6			280
RioCan Real Estate Investment Trust		3			45
Ritchie Bros Auctioneers, Inc.		2			136
Rogers Communications, Inc., Class B		7			322
Royal Bank of Canada		27			2,609
Saputo, Inc.		5			103
Shaw Communications, Inc., Class B		9			266
Shopify, Inc., Class A (a)		22			677
Sun Life Financial, Inc.		11			509


SECURITY DESCRIPTION	SHARES		VALUE($)

Canada — continued
Suncor Energy, Inc.		27		956
TC Energy Corp.		19		967
Teck Resources Ltd., Class B		9		275
TELUS Corp.		9		192
TFI International, Inc.		2		126
Thomson Reuters Corp.		3		336
TMX Group Ltd.		1		108
Toromont Industries Ltd.		2		126
Toronto-Dominion Bank (The)		35		2,273
Tourmaline Oil Corp.		6		309
West Fraser Timber Co. Ltd.		1		91
Wheaton Precious Metals Corp.		9		308
WSP Global, Inc.		2		252


				33,567

Chile — 0.1%
Antofagasta plc		253		3,579


Denmark — 3.6%
AP Moller — Maersk A/S, Class A		1		1,787
AP Moller — Maersk A/S, Class B		1		3,082
Carlsberg A/S, Class B		1		171
Chr Hansen Holding A/S		1		102
Coloplast A/S, Class B		2		187
Danske Bank A/S		209		2,973
Demant A/S (a)		1		48
DSV A/S		47		6,624
Genmab A/S (a)		1		291
GN Store Nord A/S		2		62
Novo Nordisk A/S, Class B		614		68,076
Novozymes A/S, Class B		3		171
Orsted A/S (e)		55		5,788
Pandora A/S		83		5,257
ROCKWOOL A/S, Class B		2		488
Tryg A/S		109		2,457
Vestas Wind Systems A/S		248		5,269


				102,833

Finland — 0.9%
Elisa OYJ		2		107
Fortum OYJ		128		1,941
Kesko OYJ, Class B		4		86
Kone OYJ, Class B		83		3,988
Neste OYJ		6		256
Nokia OYJ		73		339
Nordea Bank Abp		1,003		8,859
Orion OYJ, Class B		39		1,734
Sampo OYJ, Class A		151		6,607
Stora Enso OYJ, Class R		7		116
UPM-Kymmene OYJ		7		223
Wartsila OYJ Abp		116		912


				25,168


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
France — 17.3%
Accor SA (a)		2			62
Aeroports de Paris (a)		7			928
Air Liquide SA		7			936
Airbus SE		145			14,147
Alstom SA		78			1,776
Amundi SA (e)		19			1,049
Arkema SA		1			71
AXA SA		587			13,410
BioMerieux		1			54
BNP Paribas SA		337			16,103
Bollore SE		12			55
Bouygues SA		56			1,736
Bureau Veritas SA		72			1,854
Capgemini SE		2			382
Carrefour SA		9			152
Cie de Saint-Gobain		122			5,278
Cie Generale des Etablissements Michelin SCA		9			247
Covivio		1			35
Credit Agricole SA		377			3,477
Danone SA		264			14,771
Dassault Aviation SA		6			959
Dassault Systemes SE		9			335
Edenred		3			163
Eiffage SA		20			1,847
Electricite de France SA		164			1,346
Engie SA		531			6,150
EssilorLuxottica SA		251			37,980
Eurazeo SE		13			828
Gecina SA		1			57
Getlink SE		108			1,919
Hermes International		28			31,051
Ipsen SA		14			1,301
Kering SA		65			33,777
Klepierre SA (a)		3			55
La Francaise des Jeux SAEM (e)		1			48
Legrand SA		66			4,873
L’Oreal SA		3			1,130
LVMH Moet Hennessy Louis Vuitton SE		242			148,225
Orange SA		27			319
Pernod Ricard SA		3			524
Publicis Groupe SA (a)		3			149
Remy Cointreau SA		—	(h)		54
Renault SA (a)		144			3,635
Safran SA		84			8,348
Sanofi		415			41,805
Sartorius Stedim Biotech		—	(h)		122
Schneider Electric SE		133			15,803
SEB SA		—	(h)		32
Societe Generale SA		241			5,330
Sodexo SA		1			83
Teleperformance		14			4,452


SECURITY DESCRIPTION	SHARES		VALUE($)

France — continued
Thales SA		26		3,217
TotalEnergies SE		921		48,464
Ubisoft Entertainment SA (a)		1		55
Unibail-Rodamco-Westfield (a)		2		80
Valeo		3		53
Veolia Environnement SA (a)		194		4,746
Vinci SA		131		11,751
Vivendi SE		10		98
Wendel SE		8		677
Worldline SA (a) (e)		3		118


				498,482

Germany — 9.1%
adidas AG		151		26,754
Allianz SE (Registered)		124		23,730
BASF SE		12		543
Bayer AG (Registered)		358		21,386
Bayerische Motoren Werke AG		248		19,230
Bechtle AG		1		45
Beiersdorf AG		1		137
Brenntag SE		38		2,480
Carl Zeiss Meditec AG		1		64
Commerzbank AG (a)		322		2,287
Continental AG		1		103
Covestro AG (e)		3		89
Daimler Truck Holding AG (a)		111		2,927
Delivery Hero SE (a) (e)		2		82
Deutsche Bank AG (Registered)		627		5,505
Deutsche Boerse AG		58		9,675
Deutsche Lufthansa AG (Registered) (a)		147		863
Deutsche Post AG (Registered)		243		9,183
Deutsche Telekom AG (Registered)		44		871
E.ON SE		653		5,503
Evonik Industries AG		3		60
Fresenius Medical Care AG & Co. KGaA		3		137
Fresenius SE & Co. KGaA		6		175
GEA Group AG		38		1,304
Hannover Rueck SE		18		2,669
HeidelbergCement AG		2		98
HelloFresh SE (a)		2		72
Henkel AG & Co. KGaA		1		85
Infineon Technologies AG		1,007		24,496
KION Group AG		18		745
Knorr-Bremse AG		18		1,024
LEG Immobilien SE		1		81
Mercedes-Benz Group AG		601		34,913
Merck KGaA		47		7,993
MTU Aero Engines AG		13		2,400
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		42		10,044
Nemetschek SE		1		47


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
Germany — continued
Puma SE		92		6,101
Rational AG		1		729
Rheinmetall AG		11		2,464
RWE AG		186		6,893
SAP SE		14		1,286
Scout24 SE (e)		1		55
Siemens AG (Registered)		188		19,293
Siemens Energy AG		107		1,575
Siemens Healthineers AG (e)		4		197
Symrise AG, Class A		2		199
Telefonica Deutschland Holding AG		14		40
Uniper SE		27		403
United Internet AG (Registered)		1		37
Volkswagen AG		22		4,042
Vonovia SE		9		293
Zalando SE (a) (e)		3		78


				261,485

Hong Kong — 0.6%
AIA Group Ltd.		472		5,155
BOC Hong Kong Holdings Ltd.		145		574
Budweiser Brewing Co. APAC Ltd. (e)		67		201
Chow Tai Fook Jewellery Group Ltd.		78		148
CK Asset Holdings Ltd.		79		558
CK Hutchison Holdings Ltd.		105		709
CK Infrastructure Holdings Ltd.		25		151
CLP Holdings Ltd.		64		532
ESR Group Ltd. (a) (e)		78		210
Futu Holdings Ltd., ADR (a)		2		120
Galaxy Entertainment Group Ltd.		85		509
Hang Lung Properties Ltd.		78		148
Hang Seng Bank Ltd.		30		528
Henderson Land Development Co. Ltd.		57		214
HK Electric Investments & HK Electric Investments Ltd.		104		95
HKT Trust & HKT Ltd.		149		200
Hong Kong & China Gas Co. Ltd.		435		469
Hong Kong Exchanges & Clearing Ltd.		47		2,320
Hongkong Land Holdings Ltd.		45		225
Jardine Matheson Holdings Ltd.		8		441
Link REIT		82		673
MTR Corp. Ltd.		61		317
New World Development Co. Ltd.		59		213
Power Assets Holdings Ltd.		55		343
Sino Land Co. Ltd.		134		198
SITC International Holdings Co. Ltd.		53		151
Sun Hung Kai Properties Ltd.		57		669
Swire Pacific Ltd., Class A		20		119
Swire Properties Ltd.		46		114
Techtronic Industries Co. Ltd.		54		564
WH Group Ltd. (e)		324		250


SECURITY DESCRIPTION	SHARES			VALUE($)

Hong Kong — continued
Wharf Real Estate Investment Co. Ltd.		65			310
Xinyi Glass Holdings Ltd.		72			174


					17,602

Ireland — 0.7%
AerCap Holdings NV (a)		33			1,356
CRH plc		10			358
DCC plc		24			1,504
Experian plc		226			6,643
Flutter Entertainment plc (a)		2			231
James Hardie Industries plc		17			381
Kerry Group plc, Class A		64			6,138
Kingspan Group plc		38			2,277
Smurfit Kappa Group plc		3			116


					19,004

Italy — 3.1%
Amplifon SpA		2			51
Assicurazioni Generali SpA		336			5,359
Atlantia SpA		121			2,851
Bio On Spa (a) (bb) (cc)		1			—
Davide Campari-Milano NV		7			73
DiaSorin SpA		—	(h)		44
Enel SpA		2,362			12,952
Eni SpA		937			11,118
Ferrari NV		94			17,381
FinecoBank Banca Fineco SpA		185			2,216
Infrastrutture Wireless Italiane SpA (e)		4			46
Intesa Sanpaolo SpA		5,009			9,374
Mediobanca Banca di Credito Finanziario SpA		183			1,590
Moncler SpA		179			7,703
Nexi SpA (a) (e)		7			58
Poste Italiane SpA (e)		158			1,480
Prysmian SpA		63			1,721
Recordati Industria Chimica e Farmaceutica SpA		38			1,661
Snam SpA		592			3,107
Telecom Italia SpA (a)		133			35
Terna — Rete Elettrica Nazionale		408			3,209
UniCredit SpA		641			6,126


					88,155

Japan — 5.2%
Capcom Co. Ltd.		118			2,863
Casio Computer Co. Ltd.		153			1,419
COLOPL, Inc.		39			189
DeNA Co. Ltd.		57			790
GungHo Online Entertainment, Inc.		31			541
Koei Tecmo Holdings Co. Ltd.		39			1,274
Konami Holdings Corp.		62			3,457
Nexon Co. Ltd.		331			6,791
Nikon Corp.		238			2,748


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
Japan — continued
Nintendo Co. Ltd.		74			31,738
Panasonic Holdings Corp.		1,739			14,038
Sharp Corp.		193			1,491
Sony Group Corp.		993			80,970
Square Enix Holdings Co. Ltd.		57			2,543
Tamron Co. Ltd.		13			237


					151,089

Jordan — 0.0% (g)
Hikma Pharmaceuticals plc		63			1,248

Luxembourg — 0.3%
ArcelorMittal SA		392			8,791
Aroundtown SA		13			43
Eurofins Scientific SE		2			141
Tenaris SA		6			81


					9,056

Macau — 0.0% (g)
Sands China Ltd. (a)		94			226


Netherlands — 7.5%
ABN AMRO Bank NV, CVA, GDR (e)		128			1,439
Adyen NV (a) (e)		—	(h)		423
Aegon NV		542			2,335
Akzo Nobel NV		2			163
Argenx SE (a)		1			243
ASM International NV		36			8,982
ASML Holding NV		313			148,075
Euronext NV (e)		26			2,128
EXOR NV		33			2,052
Heineken Holding NV		1			103
Heineken NV		4			319
IMCD NV		14			1,910
ING Groep NV		1,183			11,656
JDE Peet’s NV		41			1,154
Just Eat Takeaway.com NV (a) (e)		2			38
Koninklijke Ahold Delhaize NV		14			374
Koninklijke DSM NV		2			339
Koninklijke KPN NV		44			156
Koninklijke Philips NV		12			258
NN Group NV		87			3,930
OCI NV		1			46
Prosus NV (a)		11			726
QIAGEN NV (a)		3			151
Randstad NV		29			1,417
Stellantis NV		1,643			20,398
Universal Music Group NV		10			199
Wolters Kluwer NV		64			6,243


					215,257


SECURITY DESCRIPTION	SHARES		VALUE($)

New Zealand — 0.0% (g)
Auckland International Airport Ltd. (a)		49		220
Fisher & Paykel Healthcare Corp. Ltd.		23		282
Mercury NZ Ltd.		26		91
Meridian Energy Ltd.		49		144
Spark New Zealand Ltd.		73		218
Xero Ltd. (a)		5		280


				1,235

Norway — 1.1%
Adevinta ASA, Class B (a)		4		28
Aker BP ASA		4		148
DNB Bank ASA		282		5,111
Equinor ASA		363		12,648
Gjensidige Forsikring ASA		60		1,231
Kongsberg Gruppen ASA		22		793
Mowi ASA		167		3,815
Norsk Hydro ASA		865		4,890
Orkla ASA		303		2,426
Salmar ASA		24		1,682
Telenor ASA		10		130
Yara International ASA		2		98


				33,000

Portugal — 0.2%
EDP — Energias de Portugal SA		807		3,759
Galp Energia SGPS SA		186		2,182
Jeronimo Martins SGPS SA		4		82


				6,023

Singapore — 0.3%
Ascendas Real Estate Investment Trust		130		267
CapitaLand Integrated Commercial Trust		205		321
Capitaland Investment Ltd.		103		284
City Developments Ltd.		16		92
DBS Group Holdings Ltd.		71		1,513
Genting Singapore Ltd.		234		122
Grab Holdings Ltd., Class A (a)		42		107
Keppel Corp. Ltd.		57		265
Mapletree Commercial Trust		90		119
Mapletree Logistics Trust		127		154
Oversea-Chinese Banking Corp. Ltd.		132		1,083
Sea Ltd., ADR (a)		14		935
Singapore Airlines Ltd. (a)		53		196
Singapore Exchange Ltd.		32		215
Singapore Technologies Engineering Ltd.		61		179
Singapore Telecommunications Ltd.		322		586
United Overseas Bank Ltd.		46		869
UOL Group Ltd.		18		98
Venture Corp. Ltd.		11		133
Wilmar International Ltd.		75		219


				7,757


SECURITY DESCRIPTION	SHARES		VALUE($)
Common Stocks — continued
South Korea — 1.5%
Samsung Electronics Co. Ltd.		536		23,644
Samsung Electronics Co. Ltd. (Registered), GDR		19		20,897


				44,541

Spain — 2.5%
Acciona SA		7		1,352
ACS Actividades de Construccion y Servicios SA		54		1,326
Aena SME SA (a) (e)		18		2,351
Amadeus IT Group SA (a)		6		341
Banco Bilbao Vizcaya Argentaria SA		2,022		9,184
Banco Santander SA		5,255		14,870
CaixaBank SA		1,344		4,708
Cellnex Telecom SA (e)		7		287
EDP Renovaveis SA		84		1,975
Enagas SA		62		1,363
Endesa SA		93		1,762
Ferrovial SA		118		3,015
Grifols SA (a)		4		81
Iberdrola SA		1,683		17,524
Industria de Diseno Textil SA		15		336
Naturgy Energy Group SA		43		1,242
Red Electrica Corp. SA		112		2,113
Repsol SA		539		7,945
Siemens Gamesa Renewable Energy SA (a)		59		1,114
Telefonica SA		73		373


				73,262

Sweden — 2.8%
Alfa Laval AB		72		1,745
Assa Abloy AB, Class B		246		5,249
Atlas Copco AB, Class A		659		6,168
Atlas Copco AB, Class B		383		3,212
Boliden AB		176		5,622
Electrolux AB, Class B		3		41
Embracer Group AB, Class B (a)		8		65
Epiroc AB, Class A		162		2,510
Epiroc AB, Class B		96		1,295
EQT AB		91		1,874
Essity AB, Class B		8		218
Evolution AB (e)		2		229
Fastighets AB Balder, Class B (a)		8		40
Getinge AB, Class B		3		71
H & M Hennes & Mauritz AB, Class B		10		117
Hexagon AB, Class B		26		276
Holmen AB, Class B		1		51
Husqvarna AB, Class B		103		760
Industrivarden AB, Class A		39		881
Industrivarden AB, Class C		46		1,033
Indutrade AB		67		1,228


SECURITY DESCRIPTION	SHARES			VALUE($)

Sweden — continued
Investment AB Latour, Class B		36			714
Investor AB, Class A		151			2,720
Investor AB, Class B		552			9,107
Kinnevik AB, Class B (a)		73			1,185
L E Lundbergforetagen AB, Class B		23			946
Lifco AB, Class B		57			923
Nibe Industrier AB, Class B		371			2,800
Sagax AB, Class B		3			47
Sandvik AB		262			4,265
Securitas AB, Class B		76			658
Sinch AB (a) (e)		7			24
Skandinaviska Enskilda Banken AB, Class A		493			4,861
Skanska AB, Class B		83			1,283
SKF AB, Class B		94			1,394
Svenska Cellulosa AB SCA, Class B		8			121
Svenska Handelsbanken AB, Class A		442			3,797
Swedbank AB, Class A		275			3,483
Swedish Match AB		22			220
Swedish Orphan Biovitrum AB (a)		2			49
Tele2 AB, Class B		8			87
Telefonaktiebolaget LM Ericsson, Class B		40			296
Telia Co. AB		35			136
Volvo AB, Class A		49			789
Volvo AB, Class B		370			5,761
Volvo Car AB, Class B (a)		446			2,966


					81,317

Switzerland — 20.9%
ABB Ltd. (Registered)		403			10,815
Adecco Group AG (Registered)		40			1,348
Alcon, Inc.		7			485
Bachem Holding AG (Registered), Class B		—	(h)		29
Baloise Holding AG (Registered)		14			2,271
Barry Callebaut AG (Registered)		2			5,312
Chocoladefabriken Lindt & Spruengli AG		1			7,229
Chocoladefabriken Lindt & Spruengli AG (Registered)		—	(h)		7,445
Cie Financiere Richemont SA (Registered), Class A		455			48,914
Clariant AG (Registered) (a)		3			55
Coca-Cola HBC AG (a)		3			60
Credit Suisse Group AG (Registered)		805			4,593
EMS-Chemie Holding AG (Registered)		—	(h)		70
Geberit AG (Registered)		9			4,243
Givaudan SA (Registered)		—	(h)		441
Glencore plc		6,358			34,436
Holcim AG (a)		8			327
Julius Baer Group Ltd.		67			3,114
Kuehne + Nagel International AG (Registered)		13			3,165
Logitech International SA (Registered)		2			120


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
Switzerland — continued
Lonza Group AG (Registered)		1			535
Nestle SA (Registered)		1,870			218,504
Novartis AG (Registered)		799			67,711
Partners Group Holding AG		7			6,213
Roche Holding AG		266			89,376
Schindler Holding AG		10			1,825
Schindler Holding AG (Registered)		6			1,037
SGS SA (Registered)		2			3,583
Sika AG (Registered)		2			461
Sonova Holding AG (Registered)		1			240
STMicroelectronics NV		527			16,667
Straumann Holding AG (Registered)		1			179
Swatch Group AG (The)		25			5,986
Swatch Group AG (The) (Registered)		46			2,045
Swiss Life Holding AG (Registered)		10			4,667
Swiss Prime Site AG (Registered)		1			90
Swiss Re AG		91			7,102
Swisscom AG (Registered)		—	(h)		190
Temenos AG (Registered)		1			72
UBS Group AG (Registered)		1,066			17,232
VAT Group AG (e)		7			1,583
Vifor Pharma AG		17			2,874
Zurich Insurance Group AG		46			19,883


					602,527

United Arab Emirates — —%
NMC Health plc (a) (bb) (cc)		16			—


United Kingdom — 16.6%
3i Group plc		295			3,995
abrdn plc		576			1,124
Admiral Group plc		54			1,490
Anglo American plc		817			29,216
Ashtead Group plc		109			4,592
Associated British Foods plc		144			2,772
AstraZeneca plc		565			74,510
Auto Trader Group plc (e)		13			85
Aviva plc		872			4,271
AVEVA Group plc		2			44
BAE Systems plc		772			7,815
Barclays plc		5,076			9,491
Barratt Developments plc		14			76
Berkeley Group Holdings plc (a)		1			68
BP plc		7,232			33,956
British American Tobacco plc		29			1,261
British Land Co. plc (The)		12			64
BT Group plc		95			216
Bunzl plc		83			2,753
Burberry Group plc		348			6,991
CNH Industrial NV		251			2,906
Coca-Cola Europacific Partners plc		3			141
Compass Group plc		24			499


SECURITY DESCRIPTION	SHARES		VALUE($)

United Kingdom — continued
Croda International plc		2		153
Diageo plc		31		1,351
Entain plc (a)		8		119
Ferguson plc		54		6,012
GSK plc		1,853		39,937
Halma plc		5		124
Hargreaves Lansdown plc		108		1,045
HSBC Holdings plc		6,137		40,092
Imperial Brands plc		12		275
Informa plc (a)		21		135
InterContinental Hotels Group plc		3		136
Intertek Group plc		40		2,033
J Sainsbury plc		23		58
JD Sports Fashion plc (a)		34		48
Johnson Matthey plc		2		59
Kingfisher plc		27		81
Land Securities Group plc		10		81
Legal & General Group plc		1,808		5,286
Lloyds Banking Group plc		21,515		11,070
London Stock Exchange Group plc		100		9,305
M&G plc		787		1,867
Melrose Industries plc		1,075		1,972
Mondi plc		7		121
National Grid plc		49		635
NatWest Group plc		1,704		4,535
Next plc		2		132
Ocado Group plc (a)		8		73
Pearson plc		9		83
Persimmon plc		4		102
Phoenix Group Holdings plc		227		1,633
Prudential plc		832		10,352
Reckitt Benckiser Group plc		10		728
RELX plc		474		12,881
Rentokil Initial plc		456		2,642
Rio Tinto plc		722		43,182
Rolls-Royce Holdings plc (a)		2,057		2,093
Sage Group plc (The)		14		111
Schroders plc		38		1,236
Segro plc		17		197
Severn Trent plc		3		111
Shell plc (a)		2,826		73,585
Smith & Nephew plc		12		169
Smiths Group plc		95		1,623
Spirax-Sarco Engineering plc		18		2,183
SSE plc		15		287
St James’s Place plc		164		2,209
Standard Chartered plc		790		5,967
Taylor Wimpey plc		49		69
Tesco plc		104		323
Unilever plc		35		1,577
United Utilities Group plc		10		119
Vodafone Group plc		366		569


SECURITY DESCRIPTION	SHARES			VALUE($)
Common Stocks — continued
United Kingdom — continued
Whitbread plc		3			82
WPP plc		16			160


					479,344

United States — 0.0% (g)
Bausch Health Cos., Inc. (a)		5			43
Brookfield Renewable Corp., Class A		3			90


					133

Total Common Stocks (Cost $3,052,749)					2,821,981

Preferred Stocks — 1.2%
Germany — 1.1%
Bayerische Motoren Werke AG		43			3,082
Henkel AG & Co. KGaA		2			146
Porsche Automobil Holding SE		115			7,634
Sartorius AG		—	(h)		120
Volkswagen AG		139			18,720


					29,702

South Korea — 0.1%
Samsung Electronics Co. Ltd.		92			3,696

Total Preferred Stocks (Cost $40,827)					33,398


	PRINCIPAL AMOUNT ($)
Short-Term Investments — 0.9%
Time Deposits — 0.9%
Australia & New Zealand Banking Group Ltd., 0.25%, 07/01/2022	AUD	448			309
0.91%, 07/01/2022		1,693			1,693
Barclays SA, 0.91%, 07/01/2022		702			702
BNP Paribas SA,
(1.20%), 07/01/2022	CHF	3,397			3,558
0.52%, 07/01/2022	GBP	3,020			3,676
0.91%, 07/01/2022		196			196
Brown Brothers Harriman,
(1.20%), 07/01/2022	CHF	—	(h)		—	(h)
(0.78%), 07/01/2022	EUR	—	(h)		—	(h)
(0.73%), 07/01/2022	DKK	5,403			761
0.01%, 07/01/2022	SEK	—	(h)		—	(h)
0.07%, 07/01/2022	NOK	4,390			446


SECURITY DESCRIPTION	PRINCIPAL AMOUNT ($)			VALUE($)

Time Deposits — continued
0.25%, 07/01/2022	AUD	—	(h)		—	(h)
0.25%, 07/01/2022	NZD	—	(h)		—	(h)
0.37%, 07/04/2022	HKD	1,307			167
0.52%, 07/01/2022	GBP	—	(h)		—	(h)
0.65%, 07/01/2022	SGD	67			48
0.91%, 07/01/2022		—	(h)		—	(h)
3.60%, 07/01/2022	ZAR	—	(h)		—	(h)
Citibank NA,
(0.78%), 07/01/2022	EUR	10,208			10,698
0.91%, 07/01/2022		2,048			2,048
Royal Bank of Canada 0.51%, 07/04/2022	CAD	343			266
0.91%, 07/01/2022		146			146
Skandinaviska Enskilda Banken AB, 0.01%, 07/01/2022	SEK	4,466			437
Sumitomo Mitsui Banking Corp., (0.36%), 07/01/2022	JPY	252,129			1,858
Sumitomo Mitsui Trust Bank Ltd., 0.91%, 07/01/2022		25			25

Total Short-Term Investments (Cost $27,034)					27,034


Total Investments — 99.9% (Cost — $3,120,610) *					2,882,413

Other Assets in Excess of Liabilities — 0.1%					2,944


NET ASSETS — 100.0%					$2,885,357

Percentages indicated are based on net assets

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JUNE 30, 2022


CVA		— Dutch Certification
GDR		— Global Depositary Receipt
REIT		— Real Estate Investment Trust
(a)		— Non-income producing security.
(e)		— Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)		— Amount rounds to less than 0.05%.
(h)		— Amount rounds to less than 500 shares or principal/ $500.
(bb)		— Security has been valued using significant unobservable inputs.
(cc)		— Security is valued in good faith at fair value by or under the direction of the Board of Trustees.
*		— The cost of securities is substantially the same for federal income tax purposes.
AUD		— Australian Dollar
CAD		— Canadian Dollar
CHF		— Swiss Franc
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
HKD		— Hong Kong Dollar
JPY		— Japanese Yen
NOK		— Norwegian Krone
NZD		— New Zealand Dollar
SEK		— Swedish Krona
SGD		— Singapore Dollar
USD		— United States Dollar
ZAR		— South African Rand

Summary of Investments by Industry, June 30, 2022

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:


INDUSTRY	PERCENTAGE

Pharmaceuticals		14.7	%

Food		9.5	%

Apparel		8.8	%

Banks		8.6	%

Semiconductors		8.6	%

Oil & Gas		7.0	%

Auto Manufacturers		4.9	%

Insurance		4.9	%

Mining		4.6	%

Home Furnishings		3.4	%

Electric		2.7	%

Retail		2.6	%

Commercial Services		1.5	%

Healthcare—Products		1.4	%

Aerospace/Defense		1.4	%

Diversified Financial Services		1.2	%

Electrical Components & Equipment		1.2	%

Toys/Games/Hobbies		1.1	%

Transportation		1.1	%

Miscellaneous Manufacturers		1.0	%

Others (Each less than 1.0%)		8.9	%

Short-Term Investments		0.9	%

Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund are two separate series of the Trust (each, a “Fund” and collectively, the “Funds”) covered by this report. The Funds are classified as “non-diversified” funds. Each Fund currently offers one class of shares. The Funds commenced operations on April 10, 2019.

The investment objective of each of the Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund is to provide capital appreciation.

Foreign equity securities are valued as of the close of trading on the stock exchange on which the security is primarily traded, or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. Eastern time on the day that the value of the security is determined. Generally, foreign equity securities, as well as certain derivatives with equity reference obligations, are valued by applying international fair value factors provided by approved Pricing Services.

not limited to proprietary models that may take into account market transactions in securities with comparable characteristics, yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, underlying collateral and estimated cash flows.

Exchange-traded futures contracts are generally valued on the basis of available market quotations. Forward foreign currency exchange contracts are valued utilizing market quotations from approved Pricing Services.

The various inputs that are used in determining the valuation of the Funds’ investments are summarized into the three broad levels listed below.

The following tables represent each valuation input as presented on the Schedules of Portfolio Investments (“SOIs”) (amounts in thousands):

There were no significant transfers into or out of level 3 for the period ended June 30, 2022 for the Funds.

As of June 30, 2022, the Funds had no investments in restricted securities other than securities sold to the Funds under Rule 144A or Regulation S under the Securities Act.

C. Derivatives — The Funds used derivative instruments including futures, in connection with their respective investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures as well as credit and spread volatility.

terms; liquidity risk related to the lack of a liquid market for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Funds’ risk of loss associated with these instruments may exceed their value, as recorded on the Statements of Assets and Liabilities.

Counterparty credit risk may be mitigated to the extent a counterparty posts collateral for mark to market gains to the Fund.

(1) Futures Contracts — The Funds used index futures to gain or reduce exposure to certain countries or regions, to maintain liquidity or minimize transaction costs.

Futures contracts may provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Funds are required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Change in net unrealized appreciation/depreciation on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the SOIs and cash deposited is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities. Futures contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The use of futures contracts may expose the Funds to equity price risk. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Funds to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Funds to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent the liquidation of positions.

The Funds’ futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

(2) Forward Foreign Currency Exchange Contracts — The Funds may be exposed to foreign currency risks associated with some or all of the portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. The Funds also bought forward foreign currency exchange contracts to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. Dollars without the delivery of foreign currency. Forward contracts outstanding at period end, if any, are listed after each Fund’s SOI.

The following tables present the effect of derivatives on the Statements of Operations for the period ended June 30, 2022, by primary underlying risk exposure (amounts in thousands):

The table below disclose the volume of the Funds’ futures contracts and forward foreign currency exchange contracts activity during the period ended June 30, 2022 (amounts in thousands, except number of contracts). Please refer to the tables in the Summary of Derivative Information for derivative-related gains and losses associated with volume activity (amounts in thousands).

D. Foreign Currency Translation — The books and records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the prevailing exchange rates of such currencies against the U.S. dollar. The market value of investment securities and other assets and liabilities are translated at the exchange rate as of the valuation date. Purchases and sales of investment securities, income and expenses are translated at the exchange rate prevailing on the respective dates of such transactions.

E. Security Transactions, Investment Income and Expense Allocation — Securities transactions are recorded on a trade date basis. Realized gain and loss from securities transactions are recorded on an identified cost basis for financial reporting and federal income tax purposes. Interest income is determined on the basis of coupon interest accrued using the effective interest method which adjusts for amortization of premiums and accretion of discounts. Dividend income, net of foreign taxes withheld, if any, is recorded on the ex-dividend date or when the Fund first learns of the dividend. Non-cash dividends, if any, are recorded on the ex-dividend date or corporate action date at fair value. Distributions received from certain investments held by the Funds may be comprised of dividends, realized gains and returns of capital. The Funds originally estimate the expected classification of such payments. The amounts may subsequently be reclassified upon receipt of information from the issuer.

F. Federal Income Tax — Each Fund is treated as a separate taxable entity for Federal income tax purposes. Each Fund’s policy is to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to regulated investment companies. Each Fund intends to distribute to shareholders, substantially all of its distributable net investment income and net realized capital gains on investments. Accordingly, no provision for Federal income tax is necessary.

The Funds follow the provisions of FASB Codification Section 740 (“ASC Section 740”) “Accounting for Uncertainty in Income Taxes” which clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return. ASC Section 740 sets forth a threshold for financial statement recognition, measurement and disclosure of tax positions taken or expected to be taken on a tax return. The Funds are required to recognize the tax effects of certain tax positions under a “more likely than not” standard, that based on their technical merits, have more than 50 percent likelihood of being sustained upon examination. Management has analyzed the tax positions taken on the Funds’ federal income tax returns for all open periods, and has concluded that no provision for federal income tax is required in the Funds’ financial statements. At June 30, 2022, the Funds did not have any uncertain tax benefits that require recognition, de-recognition or disclosure. The Funds’ federal, state and local income and federal excise tax returns for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

G. Foreign Tax — The Funds may be subject to foreign taxes on income, gains on investments or currency purchases/repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests. When capital gain tax is determined to apply, the Funds record an estimated deferred tax liability in an amount that would be payable if the securities were disposed of on the valuation date.

H. Distributions to Shareholders — Distributions to shareholders are recorded on the ex-dividend date. Distributions from net investment income and net realized capital gains are generally declared and paid according to the following schedule:

Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes. These differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes. As a result, income dividends and capital gain distributions declared during a fiscal period may differ significantly from the net investment income (loss) and realized gain (loss) reported on the Fund financial statements presented under GAAP.

Distributions classified as a tax basis return of capital, if any, are reflected on the Statement of Changes in Net Assets and have been recorded to paid-in capital.

The Adviser engaged Russell Investments Implementation Services, LLC (“Russell”) to provide stand-by interim sub-advisory services, as well as transition management services, for each Fund, to be utilized as needed in certain transitional circumstances involving a Fund Sub-Adviser. During the reporting period, the Funds have not allocated assets to Russell.

The Adviser waived Investment Advisory fees and/or reimbursed expenses as outlined in Note 3G and reflected on the Statement of Operations.

F. Waivers and Reimbursements — The Adviser has contractually agreed through at least April 30, 2023, to waive any management fees that exceed the aggregate management fees the Adviser is contractually required to pay the Fund’s Sub-Adviser. Thereafter, this waiver will continue for subsequent one year terms unless terminated in accordance with its terms. Such waivers are not subject to reimbursement by the Fund. The Adviser has also contractually agreed through at least April 30, 2023, to reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, if any, dividend and interest expenses related to short sales, brokerage fees, interest on borrowings, taxes, expenses related to litigation and potential litigation, and extraordinary expenses) exceed the following percentages of the average daily net assets of each Fund (the “Expense Cap”):

For the period ended June 30, 2022, there were no amounts reimbursed by the Adviser, nor were there amounts available for potential future recoupment by the Adviser.

G. Cross Trades — The Funds may participate in purchase and sale transactions with other Six Circles Funds. These cross trades are executed in accordance with procedures adopted by the Trust’s Board and comply with Rule 17a-7 of the 1940 Act, which require, among other things, that such cross trades be effected at the independent current market price of the security.

During the period ended June 30, 2022, the aggregate value of purchase and sale cross trades with other Six Circles Funds were as follows (amounts in thousands):

During the period ended June 30, 2022, purchases and sales of investments (excluding short-term investments) were as follows (amounts in thousands):

Since the Funds are non-diversified, they may invest a greater percentage of their assets in a particular issuer or group of issuers than a diversified fund would. This increased investment in fewer issuers may result in the Funds` shares being more sensitive to economic results among those issuing the securities.

The International Unconstrained Equity, Ultra Short Duration, Tax Aware Ultra Short Duration, Global Bond and Credit Opportunities Funds invest in foreign issuers and foreign securities (including depositary receipts) which are subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, sanctions or other measures by the United States or other governments, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, liquidity risks and less stringent investor protection and disclosure standards of foreign markets. In certain markets where securities and other instruments are not traded “delivery versus payment,” a Fund may not receive timely payment for securities or other instruments it has delivered or receive delivery of securities paid for and may be subject to increased risk that the counterparty will fail to make payments or delivery when due or default completely.

As of June 30, 2022, the Six Circles Managed Equity Portfolio International Unconstrained Fund had non-U.S. country allocations representing greater than 10% of Net Assets as follows:

As of June 30, 2022, a significant portion of the Six Circles Managed Equity Portfolio International Unconstrained Fund net assets consisted of securities that were denominated in foreign currencies. Changes in currency exchange rates will affect the value of, and investment income from, such securities.

coronavirus disease, has negatively affected economies, markets and individual companies throughout the world, including those in which the Funds invest. The effects of this pandemic to public health and business and market conditions, including exchange trading suspensions and closures, may continue to have a significant negative impact on the performance of the Funds’ investments, increase the Funds’ volatility, exacerbate pre-existing political, social and economic risks to the Funds, and negatively impact broad segments of businesses and populations. The Funds’ operations may be interrupted as a result, which may contribute to the negative impact on investment performance. In addition, governments, their regulatory agencies, or self-regulatory organizations have taken, and may continue to take, actions in response to the pandemic that affect the instruments in which the Funds invest, or the issuers of such instruments, in ways that could have a significant negative impact on the Funds’ investment performance. The full impact of the COVID-19 pandemic, or other future epidemics or pandemics, is currently unknown.

The Funds are also subject to counterparty credit risk, which is the risk that a counterparty fails to perform on agreements with the Funds such as swap contracts and forward foreign currency exchange contracts.

LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. On March 5, 2021, the U.K. Financial Conduct Authority (“FCA”) publicly announced that (i) immediately after December 31, 2021, publication of the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; (ii) immediately after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently cease; and (iii) immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and that representativeness will not be restored. There is no assurance that the dates announced by the FCA will not change or that the administrator of LIBOR and/or regulators will not take further action that could impact the availability, composition or characteristics of LIBOR or the currencies and/or tenors for which LIBOR is published. Public and private sector industry initiatives are currently underway to implement new or alternative reference rates to be used in place of LIBOR. There is no assurance that any such alternative reference rate will be similar to or produce the same value or economic equivalence as LIBOR or that it will have the same volume or liquidity as did LIBOR prior to its discontinuance or unavailability, which may affect the value or liquidity or return on certain of a Fund’s loans, notes, derivatives and other instruments or investments comprising some or all of a Fund’s investments and result in costs incurred in connection with closing out positions and entering into new trades. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor) and a wide range of other index levels, rates and values that are treated as “benchmarks” and are the subject of recent regulatory reform.

For Federal income tax purposes, the estimated cost and unrealized appreciation (depreciation) in value of investments held at June 30, 2022

As of December 31, 2021, the following Fund had the following post-enactment net capital loss carryforwards (amounts in thousands):

As of June 30, 2022, Six Circles Managed Equity Portfolio U.S. Unconstrained Fund and Six Circles Managed Equity Portfolio International Unconstrained Fund each had one affiliated omnibus account for the benefit of its clients which owned approximately 99% of its outstanding shares.

The Funds have evaluated subsequent events through the date of issuance of this report and have determined that there are no material events that need disclosure.

As a shareholder of the Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemption fees and (2) ongoing costs, including investment advisory fees, administration fees, distribution fees and other Fund expenses. The examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these ongoing costs with the ongoing costs of investing in other mutual funds. The examples assume that you had a $1,000 investment in each Fund on January 1, 2022, and continued to hold your shares at the end of the reporting period, June 30, 2022.

Actual Expenses

Hypothetical Example for Comparison Purposes

Board Review and Approval of the Continuation of the Advisory and Sub-Advisory Agreements

Materials Requested Prior to Meeting. Prior to the Meeting, Ropes & Gray LLP (“Ropes & Gray” or “Independent Legal Counsel”), counsel to the Independent Trustees, had prepared letters on behalf of the Independent Trustees requesting detailed information from JPMPI and each Sub-Adviser in connection with the proposed Advisory Agreement and Sub-Advisory Agreements in an effort to observe the requirement under Section 15(c) of the 1940 Act that the Trustees request and evaluate, and that the investment adviser and sub-advisers furnish, such information as may be necessary to evaluate the terms of the proposed agreements. JPMPI and each Sub-Adviser responded to the information requests and provided memoranda and related materials and information for consideration by the Trustees, which were included in the materials for the Meeting (together, the “15(c) Materials”). Following receipt and review, the Independent Trustees and their counsel, Ropes & Gray, held a separate conference call to consider the 15(c) Materials and related proposed advisory and sub-advisory arrangements, during which the Independent Trustees raised various questions and requests for additional information to be responded to by JPMPI. Subsequent calls were held with representatives from JPMPI to communicate the Independent Trustees’ additional questions and requests for information, each of which was responded to by JPMPI either in writing or orally at the Meeting.

Set forth below is a summary of the material factors evaluated by the Trustees that formed the basis for the Board’s approval

of the continuation of the Advisory Agreement and the Sub-Advisory Agreements. The Trustees’ conclusions as to the approval of the continuation of the Agreements were based on a comprehensive consideration of all information provided to the Trustees. In deciding to approve the continuation of the Advisory Agreement and Sub-Advisory Agreements, the Board did not identify any single factor or particular information that, in isolation, was controlling. Some of the factors that figured particularly in the Trustees’ deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, attributing different weights to various factors.

Materials Reviewed. In considering the approval of the continuation of the Advisory Agreement between the Trust and JPMPI for the Funds, the Sub-Advisory Agreements in respect of the Funds between JPMPI and BlackRock and RIIS, the Trustees took into account the 15(c) Materials relating to the services provided by JPMPI and the Sub-Advisers provided prior to and during the Meeting, the presentations made during the Meeting, and the extensive discussions during the Meeting. It was noted that, to date, RIIS had not been called to act as Interim Sub-Adviser to the Funds. The Trustees reviewed information relating to, among other things, the investment management services provided by the Adviser and the Sub-Advisers to the Funds, including the compliance programs of the Adviser and the Sub-Advisers, valuation, and other information related to personnel of the Adviser and Sub-Advisers who provide investment management services to the Funds. They also reviewed comparative fee information prepared by Broadridge and a memorandum prepared by Independent Legal Counsel regarding the responsibilities of the Trustees in considering the approval of the continuation of advisory and sub-advisory agreements.

Representatives of JPMPI also participated in the Meeting, at which the Trustees discussed the advisory and sub-advisory arrangements with the Adviser and the Sub-Advisers for the Funds. It was noted that representatives of the Sub-Advisers had attended board meetings during the last year.

Review Process. In connection with the approval of the Advisory Agreement and Sub-Advisory Agreements, the Trustees reviewed written materials provided by JPMPI, which included, among other things, comparative fee data prepared by Broadridge, an independent provider of investment company performance and fee and expense data. The Trustees also requested and received assistance and advice regarding applicable legal standards from Independent Legal Counsel. The Trustees additionally considered the written information provided by JPMPI and the Sub-Advisers in response to the Trustees’ requests for information and other information provided by JPMPI. The Trustees also heard oral presentations during regular meetings throughout the year on matters related to the Advisory Agreement and the Sub-Advisory Agreements, as well

as related arrangements with RIIS. The Independent Trustees held separate telephonic meetings prior to the Meeting, which were attended by Independent Legal Counsel, to discuss the proposed continuation of the Advisory Agreement and Sub-Advisory Agreements and the related materials and information provided by JPMPI and the Sub-Advisers. Based on their deliberations during the prior meetings, the Independent Trustees formulated a number of questions and requests for follow-up information from management, with respect to which JPMPI had responded in writing or orally during the Meeting. In addition, the Independent Trustees discussed the proposed continuation of the Advisory Agreement and Sub-Advisory Agreements during an executive session held as part of the Meeting with Independent Legal Counsel at which no representatives of JPMPI, the Sub-Advisers, or other representatives from management were present. In deciding to approve the Advisory Agreement and Sub-Advisory Agreements, the Trustees did not identify any single factor or particular information that, in isolation, was controlling.

Nature, Extent and Quality of Services. The Trustees considered the depth and quality of the investment management process of JPMPI and the Sub-Advisers, including for each entity, the experience and capabilities of its senior management, investment and other personnel, and the overall financial strength and stability of the organizations. The Trustees also considered the nature, extent and quality of the various services that JPMPI would provide under the Advisory Agreement. The Trustees also noted JPMPI’s commitment to investing in information technology, supporting compliance, as well as JPMPI’s continuing efforts to attract and retain qualified personnel and to maintain and enhance its resources and systems. The Trustees considered JPMPI’s review of its policies, procedures and systems to assure compliance with applicable laws and regulations and to conduct effective oversight of each Sub-Adviser; and its processes to keep the Trustees informed about matters relevant to the Funds and their shareholders.

Similarly, the Trustees considered the sub-advisory services provided by each Sub-Adviser to the Funds. The Trustees also considered information about the investment personnel of BlackRock and RIIS who are responsible for providing services under the Sub-Advisory Agreements. For each of BlackRock and RIIS, the Trustees reviewed the nature and quality of the investment management, trading, risk management, compliance capabilities and resources, research capabilities, and the experience and capabilities of its portfolio management personnel, and the overall financial strength of each organization. The Trustees noted the certificates received from JPMPI and the Sub-Advisers regarding both their compliance programs and codes of ethics, which noted that that each of JPMPI, BlackRock and RIIS had compliance policies and procedures in place that were reasonably designed to prevent violations of the federal securities laws with respect to the services

provided by them and had each adopted a code of ethics that included provisions reasonably necessary to prevent access persons from (i) engaging in certain specified conduct and (ii) violating the code of ethics.

Ultimately, the Board concluded that the nature, extent and quality of services proposed to be provided by the Adviser and Sub-Advisers under the Advisory and Sub-Advisory Agreements were likely to benefit the Funds and their shareholders.

Investment Performance. As part of their review of the services provided by JPMPI and BlackRock, the Trustees reviewed the performance of each of the Funds, including the Broadridge report containing comparative performance information of a peer group of similar funds selected by Broadridge. In reviewing the comparative information, the Trustees took into account JPMPI’s explanation that the peer funds selected by Broadridge do not provide particularly apt comparisons, given the Funds’ intended role as completion portfolios for the broader J.P. Morgan managed account portfolios and the bespoke and highly tailored structures of the Funds’ portfolios. The Trustees considered JPMPI’s view that since the role of the Funds is to enhance the relative performance of the total managed account portfolios in which they are held, the Trustees should also take into account and evaluate the performance of the Funds in the context of the broader portfolios they are intended to complete and on the basis of whether the Funds serve their intended purpose. In this regard, the Board received representations from the JPMPI CIO team regarding the utility of the Funds in serving their intended purpose, including how they have served to enhance access to investment ideas and have increased portfolio efficiency for the managed account strategies. In this regard, the Trustees received supplemental information regarding (i) Sub-Adviser sleeve performance and (ii) performance of the J.P. Morgan managed account strategies that invest in the Funds.

To evaluate Sub-Adviser sleeve performance, the Trustees reviewed performance information of each of the Sub-Adviser sleeves against their performance benchmark(s), which included customized benchmarks in certain cases. The Trustees also considered that Sub-Adviser performance is reviewed independently by the J.P. Morgan Investment Performance Governance Committee (“IPGC”), and reviewed related materials from IPGC reports.

by the J.P. Morgan Portfolio Governance Committee (“PGC”), a committee responsible for providing ongoing oversight of its internal investment strategies, including the investment strategies inclusive of the Funds and reviewed related materials. The Board considered that PGC to date has been satisfied with the performance of the Funds and each Sub-Adviser and that the Funds have to date and continue to serve their intended purpose.

Based on these reviews, the Trustees concluded that they were satisfied with the investment performance provided by each of JPMPI under the Advisory Agreement and BlackRock and RIIS under the respective Sub-Advisory Agreements.

that JPMPI compensates them out of the advisory fee it receives from the Funds. The Trustees noted that neither JPMPI nor BlackRock and RIIS identified any funds or accounts with comparable investment objectives and strategies as the Funds. Additionally, the Trustees noted the most-favored nation provisions agreed to by BlackRock and RIIS, which help ensure that sub-advisory fee rates charged by each such Sub-Adviser to the Funds are no higher than the fees the Sub-Adviser charges to similar clients.

Based on the information presented by JPMPI, BlackRock, RIIS and Broadridge, the Trustees determined that the level of the advisory fees charged by JPMPI, the level of the sub-advisory fees to be paid by JPMPI to BlackRock and RIIS, as well as the total expenses of each Fund, are reasonable, fair and equitable and that approval of the continuation of the Advisory Agreement and Sub-Advisory Agreements benefits each Fund and its shareholders.

Adviser Costs, Level of Profits and Economies of Scale. The Trustees considered the estimated profits realized by the Adviser in connection with the operation of the Funds based on profitability information included in the 15(c) Materials, and whether the amount of profits represented a fair entrepreneurial profit for the management of the Funds. In doing so, the Trustees also took into account the entrepreneurial and business risk JPMPI undertakes as investment manager and sponsor of the Funds. The Trustees also considered the Funds’ operating expenses and the impact of the expense limitation agreement and fee waiver agreement observed by JPMPI on the Adviser’s estimated profits. The Trustees took into account that JPMPI’s estimates indicated that the Adviser has been unprofitable with respect to each of the Funds from inception through December 31, 2021. The Trustees also took into account that, although JPMPI has not realized profits with respect to the Funds, J.P. Morgan and its affiliates could be profitable with respect to the managed accounts that invest in the Funds and received related information and input from JPMPI in this regard.

The Trustees further noted that the advisory fee rates to be paid to JPMPI do not have break points, but due to the fee waiver arrangements, JPMPI does not retain any portion of the advisory fees paid by the Funds. The Trustees took into account that the Sub-Advisory Agreements for BlackRock and RIIS include breakpoints to certain of the sub-advisory fees in light of the anticipated size of those Funds.

Ultimately, the Trustees concluded that each of the Funds’ fee and expense structure is reasonable, fair and equitable.

Ancillary Benefits. The Trustees next considered whether the Adviser, BlackRock and RIIS or any of their affiliates may receive other benefits as a result of the relationship with the Trust or the Funds. The Trustees considered that the Funds benefit the Adviser and its affiliates by enhancing the current

discretionary product offering to J.P. Morgan Private Bank, J.P. Morgan Securities and Chase Wealth Management clients. Specifically, the Board considered that the Funds serve to expand the CIO investments toolkit, expand the current capacity to invest and reduce unintended portfolio dispersion. The Board also considered that, apart from the Adviser, who does not retain any fees under the Advisory Agreement for managing the Funds, the Funds are not engaging any JPMC affiliates as fund service providers. Instead, the Funds are utilizing third party service providers and restrict any transactions with affiliates. In this regard, the Trustees took into account JPMPI’s representation that no JPMC affiliate is profiting financially directly from the Funds themselves. The Trustees considered that the Adviser does receive a portfolio management fee (“PMF”) outside of the Funds based on funds held in the Adviser’s discretionary client accounts, including on assets attributable to shares of the Funds held in such accounts. The Trustees took into account, however, JPMPI’s representation that it would receive this PMF independent of whether the discretionary accounts allocated investments to the Funds or allocated the same assets to a third party fund or other investment.

The Trustees additionally considered that BlackRock and RIIS were not affiliated with any of the Funds’ service providers, and therefore do not benefit from those contractual relationships. The Trustees also considered portfolio trading practices of RIIS, noting the relatively low trading costs that RIIS expects to incur in completing portfolio transactions for the Funds, should the services be used. Additionally, the Trustees considered that RIIS may receive ancillary benefits of receiving fees from serving as transition manager to the Funds under the Implementation Services Agreement between the Adviser and RIIS, but noted that those fees are not contingent on RIIS serving as an interim sub-adviser and would be for services that are distinct from RIIS sub-advisory services. The Trustees also considered the proprietary nature of the Funds and whether any benefits result to the Adviser by placing assets of J.P. Morgan managed account clients into the Funds. The Trustees also considered portfolio trading practices, noting that while the Adviser was affiliated with a broker-dealer, the broker-dealer affiliate does not execute portfolio transactions on behalf of the Funds and would not receive the benefit of research provided by any such broker-dealer.

For more complete information about the Funds, including the Funds’ objectives, risks, charges and expenses, call your J.P. Morgan team or call 1-212-464-2070 or go to www.sixcirclesfunds.com for a prospectus. Read the prospectus carefully. An investment in these Funds and any other Fund is not designed to be a complete investment program. The Funds are NOT designed to be used as stand-alone investments. J.P. Morgan is committed to making our products and services accessible to meet the financial services needs of all our clients. If you are a person with a disability and need additional support accessing this material, please contact your J.P. Morgan team or email us at accessibility.support@jpmorgan.com for assistance.

The Six Circles Funds are distributed by Foreside Fund Services, LLC a member of FINRA.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

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

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


President’s Letter			1

Market Overview			2

Fund Commentaries			3

Six Circles Ultra Short Duration Fund			3

Six Circles Tax Aware Ultra Short Duration Fund			5

Six Circles U.S. Unconstrained Equity Fund			7

Six Circles International Unconstrained Equity Fund			10

Six Circles Global Bond Fund			13

Six Circles Tax Aware Bond Fund			16

Six Circles Credit Opportunities Fund			18

Schedules of Portfolio Investments			20

Financial Statements			232

Financial Highlights			254

Notes to Financial Statements			268

Schedule of Shareholder Expenses			295

Board Approval of Investment Advisory Agreements			296

Liquidity Risk Management Program			301

Trustees and Officers			302


REPORTING PERIOD RETURN
Fund*		(1.11)%
Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index		0.16%

Net Assets as of 06/30/2022 (In Thousands)	$	600,092
Duration		0.59 years


REPORTING PERIOD RETURN
Fund*		(0.84)%
iMoneyNet Tax-Free National Institutional Money Market Index		0.12%

Net Assets as of 06/30/2022 (In Thousands)	$	614,458
Duration		0.50 years


REPORTING PERIOD RETURN
Fund*		(20.12)%
MSCI USA Index		(21.11)%

Net Assets as of 06/30/2022 (In Thousands)	$	15,082,429


REPORTING PERIOD RETURN
Fund*		(19.37)%
MSCI World ex-USA Index		(18.76)%

Net Assets as of 06/30/2022 (In Thousands)	$	11,663,862


REPORTING PERIOD RETURN
Fund*		(7.38)%
Bloomberg Barclays Global-Aggregate Index - Hedged USD		(9.06)%

Net Assets as of 06/30/2022 (In Thousands)	$	7,210,111
Duration		6.31 years


REPORTING PERIOD RETURN
Fund*		(7.79)%
Bloomberg Barclays 1-15 Year Municipal Bond Index		(6.80)%

Net Assets as of 06/30/2022 (In Thousands)	$	5,083,686
Duration		5.41 years


REPORTING PERIOD RETURN
Fund*		(13.00)%
Bloomberg Barclays U.S. Intermediate Corporate Bond Index		(8.97)%

Net Assets as of 06/30/2022 (In Thousands)	$	3,257,227
Duration		3.52 years


Futures contracts outstanding as of June 30, 2022:
Exchange Traded
DESCRIPTION	NUMBER OF CONTRACTS			EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT($)			VALUE AND UNREALIZED APPRECIATION (DEPRECIATION)($)
Long Contracts
3 Month Eurodollar		51			12/2022		USD		12,624			(344	)
U.S. Treasury 2 Year Note		328			09/2022		USD		69,076			(191	)

												(535	)


Short Contracts
U.S. Treasury 2 Year Note		(28	)		09/2022		USD		(5,898	)		18
U.S. Treasury 5 Year Note		(376	)		09/2022		USD		(42,305	)		99
U.S. Treasury Ultra Bond		(15	)		09/2022		USD		(2,357	)		42
U.S. Ultra Treasury 10 Year Note		(60	)		09/2022		USD		(7,684	)		42

												201

Total unrealized appreciation (depreciation)												(334	)


Forward foreign currency exchange contracts outstanding as of June 30, 2022:
CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION)($)
USD	3,656	CAD	4,640	Bank of America, NA		07/05/2022		51
USD	627	CAD	805	Bank of America, NA		07/05/2022		1
USD	4,864	GBP	3,847	Bank of America, NA		07/05/2022		181
USD	7,834	JPY	1,000,000	BNP Paribas		08/10/2022		447
CAD	1,994	USD	1,541	UBS AG LONDON		08/12/2022		8
USD	13,926	AUD	19,763	Bank of America, NA		08/16/2022		280
USD	1,085	AUD	1,508	Bank of America, NA		08/16/2022		43
USD	634	AUD	895	Morgan Stanley & Co.		08/16/2022		16
USD	5,112	EUR	4,827	BNP Paribas		09/21/2022		25
EUR	83	USD	87	Citibank, NA		09/21/2022		1
USD	2,041	GBP	1,645	Citibank, NA		09/21/2022		35
USD	1,785	ILS	5,699	Barclays Bank plc		11/02/2022		139
USD	196	ILS	664	Bank of America, NA		03/02/2023		2

Total unrealized appreciation								1,229


GBP	354	USD	431	Bank of America, NA		07/05/2022		—	(h)
GBP	186	USD	228	Barclays Bank plc		07/05/2022		(1	)
USD	4,219	CAD	5,448	Morgan Stanley & Co.		08/02/2022		(13	)
USD	4,018	GBP	3,307	Bank of America, NA		08/02/2022		(10	)
USD	8,429	CAD	11,000	Citibank, NA		08/12/2022		(117	)
CAD	3,490	USD	2,717	UBS AG LONDON		08/12/2022		(6	)
USD	4,284	JPY	580,000	BNP Paribas		09/26/2022		(17	)

Total unrealized depreciation								(164	)

Net unrealized appreciation (depreciation)								1,065


Centrally Cleared Interest Rate Swap contracts outstanding as of June 30, 2022:
FLOATING RATE INDEX (a)	FIXED RATE		PAY/RECEIVE FLOATING RATE	MATURITY DATE		NOTIONAL AMOUNT			UPFRONT PAYMENTS (RECEIPTS) ($)		UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE($)
ICE LIBOR USD 1 Month		ICE LIBOR USD 3 Month	Pay		01/13/2023		USD	9,600		—		5			5
ICE LIBOR USD 1 Month		ICE LIBOR USD 3 Month	Pay		01/13/2023		USD	12,500		—		10			10
United States SOFR		2.71 % annually	Pay		03/31/2024		USD	53,100		—		(254	)		(254	)

Total										—		(239	)		(239	)


FLOATING RATE INDEX
ICE LIBOR USD 1 Month			1.79%
ICE LIBOR USD 3 Month			2.29%
United States SOFR			1.50%


Centrally Cleared Credit Default Swaps contracts outstanding — buy protection ⁽¹⁾ as of June 30, 2022:
REFERENCE OBLIGATION/INDEX	FINANCING RATE PAID BY THE FUND(%)	PAYMENT FREQUENCY	MATURITY DATE		IMPLIED CREDIT SPREAD (%) ⁽²⁾		NOTIONAL AMOUNT ⁽³⁾			UPFRONT PAYMENTS (RECEIPTS)($) ⁽⁴⁾			UNREALIZED APPRECIATION (DEPRECIATION)($)		VALUE($)
CDX.NA.IG.35-V1	1.00%	Quarterly		12/20/2025		0.80		USD	700		(15	)		10		(5	)
CDX.NA.IG.36-V1	1.00%	Quarterly		06/20/2026		0.88		USD	3,400		(83	)		67		(16	)
CDX.NA.IG.37-V1	1.00%	Quarterly		12/20/2026		0.95		USD	9,800		(242	)		218		(24	)

Total											(340	)		295		(45	)


FLOATING RATE INDEX
Bank Negara Malaysia KLIBOR Interbank Offered rate Fixing 3 Month	2.38	%
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.04	)%
BBSW ASX Australian 6 Month	2.67	%
Canada Bankers Acceptances 3 Month	2.76	%
CFETS China Fixing Repo Rates 7 Day	2.50	%
Colombia IBR Overnight Nominal Interbank Reference Rate	5.75	%
ICE LIBOR USD 3 Month	2.29	%
KRW Certificate of Deposit 3 Month	2.04	%
SONIA Interest Rate Benchmark	1.19	%
Swiss Average Rate ON Intraday Value	(.20	)%
Thailand Overnight Repo Rate ON	0.48	%
United States FEDEF	1.58	%
United States SOFR	1.50	%


Written Call Option contracts on securities as of June 30, 2022:
DESCRIPTION	COUNTERPARTY		NUMBER OF CONTRACTS			NOTIONAL AMOUNT				EXERCISE PRICE			EXPIRATION DATE		VALUE
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		Citigroup Global Markets, Inc.		(10,000	)		USD	(28,368	)		USD	90.16		09/07/2022	$	(315	)
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		Citigroup Global Markets, Inc.		(13,000	)		USD	(26,344	)		USD	91.38		09/07/2022		(288	)
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		BofA Securities, Inc.		(13,500	)		USD	(17,177	)		USD	92.70		09/07/2022		(185	)
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		BofA Securities, Inc.		(11,000	)		USD	(9,662	)		USD	93.56		09/07/2022		(103	)
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		BofA Securities, Inc.		(10,000	)		USD	(5,625	)		USD	94.44		09/07/2022		(60	)
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		Citigroup Global Markets, Inc.		(6,000	)		USD	(2,929	)		USD	94.69		09/07/2022		(31	)
FNMA or FHLMC, Single Family, 30 years, TBA, 3.00%, 09/14/2052		BofA Securities, Inc.		(8,500	)		USD	(4,112	)		USD	94.70		09/07/2022		(43	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.50%, 09/14/2052		Citigroup Global Markets, Inc.		(16,500	)		USD	(13,285	)		USD	100.23		09/07/2022		(133	)

															$	(1,158	)



JUNE 30, 2022	SIX CIRCLES TRUST	1



2	SIX CIRCLES TRUST	JUNE 30, 2022



JUNE 30, 2022	SIX CIRCLES TRUST	3



4	SIX CIRCLES TRUST	JUNE 30, 2022


Written Put Option contracts on securities as of June 30, 2022:
DESCRIPTION	COUNTERPARTY		NUMBER OF CONTRACTS			NOTIONAL AMOUNT				EXERCISE PRICE			EXPIRATION DATE		VALUE
FNMA or FHLMC, Single Family, 30 years, TBA, 4.00%, 07/14/2052		BofA Securities, Inc.		(7,500	)		USD	(1,167	)		USD	98.30		07/07/2022	$	(12	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.00%, 07/14/2052		BofA Securities, Inc.		(9,500	)		USD	(5,853	)		USD	99.14		07/07/2022		(59	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.50%, 07/14/2052		Citigroup Global Markets, Inc.		(8,500	)		USD	(1,835	)		USD	100.28		07/07/2022		(18	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.50%, 07/14/2052		Citigroup Global Markets, Inc.		(6,000	)		USD	(278	)		USD	99.56		07/07/2022		(3	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.50%, 09/14/2052		Citigroup Global Markets, Inc.		(4,500	)		USD	(3,742	)		USD	99.66		09/07/2022		(37	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.00%, 09/14/2052		Citigroup Global Markets, Inc.		(16,500	)		USD	(7,053	)		USD	98.23		09/07/2022		(72	)
FNMA or FHLMC, Single Family, 30 years, TBA, 4.50%, 09/14/2052		Citigroup Global Markets, Inc.		(3,500	)		USD	(2,590	)		USD	99.41		09/07/2022		(26	)

																(227	)

Total Written Options Contracts (Premiums Received $1,076)															$	(1,385	)


ACES		— Alternative Credit Enhancement Securities
ARM		— Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of June 30, 2022.
ASX		— Australian Stock Exchange
BAM		— Insured by Build America Mutual
BBSW		— Bank Bill Swap Rate
BIBOR		— Bangkok Interbank Offered Rate
BofA		— Bank of America
CFETS		— China Foreign Exchange Trade System
CLO		— Collateralized Loan Obligations
CMT		— Constant Maturity Treasury


CPI		— Consumer Price Index
DUS		— Delegated Underwriting and Servicing
EURIBOR		— Euro Interbank Offered Rate
FEDEF		— Federal Fund Effective Rate (Continuous Series)
FHA		— Federal Housing Administration
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
IBR		— Indicador Bancario de Referencia


OTC Credit Default Swaps contracts outstanding — sell protection ⁽¹⁾ as of June 30, 2022:
REFERENCE OBLIGATION/ INDEX	FINANCING RATE RECEIVED BY THE FUND(%)		PAYMENT FREQUENCY		COUNTERPARTY		MATURITY DATE		IMPLIED CREDIT SPREAD(%) ⁽³⁾		NOTIONAL AMOUNT ⁽⁴⁾			UPFRONT PAYMENTS (RECEIPTS)($) ⁽⁵⁾			UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE ($)
Novafives SAS, 5.00%, 06/15/2025		5.00%		quarterly		Goldman Sachs International		06/20/2023		17.94		EUR	4		(—	)(h)		(–	)(h)		(—	)(h)
Novafives SAS, 5.00%, 06/15/2025		5.00%		quarterly		Goldman Sachs International		06/20/2023		17.94		EUR	6		(—	)(h)		(–	)(h)		(—	)(h)
Novafives SAS, 5.00%, 06/15/2025		5.00%		quarterly		Citibank, NA		06/20/2023		17.94		EUR	20		(1	)		(1	)		(2	)
Adler Real Estate AG, 1.50%, 12/06/2021		5.00%		Quarterly		Morgan Stanley		12/20/2025		31.27		EUR	30		5			(15	)		(10	)
CMA CGM SA, 7.5%, 01/15/2026		5.00%		Quarterly		Goldman Sachs		06/20/2026		5.45		EUR	10		1			(1	)		(—	)(h)
Adler Real Estate AG, 2.13%, 02/06/2024		5.00%		Quarterly		Citibank, NA		12/20/2026		29.69		EUR	20		—	(h)		(7	)		(7	)
Adler Real Estate AG, 2.13%, 02/06/2024		5.00%		Quarterly		Morgan Stanley		12/20/2026		29.69		EUR	90		—	(h)		(30	)		(30	)
Adler Real Estate AG, 2.13%, 02/06/2024		5.00%		Quarterly		Goldman Sachs International		12/20/2026		29.69		EUR	60		(—	)(h)		(20	)		(20	)
Jaguar Land Rover Automotive, 2.20%, 01/15/2024		5.00%		Quarterly		Barclays Bank plc		12/20/2026		9.88		EUR	30		1			(6	)		(5	)
Jaguar Land Rover Automotive, 2.20%, 01/15/2024		5.00%		Quarterly		Morgan Stanley		12/20/2026		9.88		EUR	10		—	(h)		(2	)		(2	)
Jaguar Land Rover Automotive, 2.20%, 01/15/2024		5.00%		Quarterly		Bank of America		12/20/2026		9.88		EUR	20		(1	)		(2	)		(3	)
Socialist Republic of Vietnam, 4.80%, 11/19/2024		1.00%		Quarterly		Citibank, NA		06/20/2027		1.60		USD	900		(6	)		(18	)		(24	)
Socialist Republic of Vietnam, 4.80%, 11/19/2024		1.00%		Quarterly		Citibank, NA		06/20/2027		1.60		USD	3,900		(28	)		(75	)		(103	)
CMA CGM SA, 7.5%, 01/15/2026		5.00%		quarterly		Goldman Sachs International		06/20/2027		6.08		EUR	70		2			(5	)		(3	)
CMA CGM SA, 7.5%, 01/15/2026		5.00%		quarterly		Barclays Bank plc		06/20/2027		6.08		EUR	49		2			(4	)		(2	)

Total															(25	)		(186	)		(211	)


Centrally Cleared Credit Default Swaps contracts outstanding — sell protection ⁽¹⁾ as of June 30, 2022:
REFERENCE OBLIGATION/ INDEX	FINANCING RATE RECEIVED BY THE FUND(%)		PAYMENT FREQUENCY		MATURITY DATE		IMPLIED CREDIT SPREAD(%) ⁽³⁾		NOTIONAL AMOUNT ⁽⁴⁾			UPFRONT PAYMENTS (RECEIPTS)($) ⁽⁵⁾			UNREALIZED APPRECIATION (DEPRECIATION)($)			VALUE ($)
ITRX ASIAXJ IG-V1		1.00%		Quarterly		06/20/2027		1.42		USD	12,900		(53	)		(181	)		(234	)
CDX.NA.HY.38-V1		5.00%		Quarterly		06/20/2027		5.75		USD	120,607		(924	)		(2,405	)		(3,329	)

Total													(977	)		(2,586	)		(3,563	)


	Six Circles Ultra Short Duration Fund
ASSETS:
Investments in non-affiliates, at value	$	584,650
Repurchase agreements, at value		13,100
Cash		7
Foreign currency, at value		2
Deposits at broker for futures contracts		327
Deposits at broker for centrally cleared swaps		691
Receivables:
Investment securities sold		166
Fund shares sold		137
Interest and dividends from non-affiliates		2,096
Variation margin on futures contracts		155
Unrealized appreciation on forward foreign currency exchange contracts		1,229

Total Assets		602,560


LIABILITIES:
Payables:
Deposits from broker for OTC contratcs		751
Interest expense		1
Investment securities purchased		880
Fund shares redeemed		249
Variation margin on centrally cleared swaps (net upfront receipts of $340)		93
Unrealized depreciation on forward foreign currency exchange contracts		164
Accrued liabilities:
Investment advisory fees		58
Administration fees		9
Custodian and accounting fees		19
Registration and filing fees		6
Other		238

Total Liabilities		2,468

Net Assets	$	600,092


NET ASSETS:
Paid-in capital	$	616,581
Total distributable earnings (loss)		(16,489	)

Total Net Assets	$	600,092

Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized):		61,226
Net Asset Value, offering and redemption price per share (a):	$	9.80
Cost of investments in non-affiliates	$	598,302
Cost of repurchase agreements		13,100
Cost of foreign currency		2


	Six Circles Tax Aware Ultra Short Duration Fund
ASSETS:
Investments in non-affiliates, at value	$	606,291
Repurchase agreements, at value		13,200
Cash		6
Foreign currency, at value		4
Deposits at broker for futures contracts		313
Deposits at broker for centrally cleared swaps		664
Receivables:
Investment securities sold		5,042
Fund shares sold		285
Interest and dividends from non-affiliates		3,083
Variation margin on futures contracts		206
Unrealized appreciation on forward foreign currency exchange contracts		668

Total Assets		629,762


LIABILITIES:
Payables:
Deposits from broker for OTC contratcs		662
Interest expense		1
Investment securities purchased		13,465
Fund shares redeemed		864
Variation margin on centrally cleared swaps (net upfront receipts of $347)		135
Unrealized depreciation on forward foreign currency exchange contracts		18
Accrued liabilities:
Investment advisory fees		49
Administration fees		8
Custodian and accounting fees		19
Registration and filing fees		3
Other		80

Total Liabilities		15,304

Net Assets	$	614,458


NET ASSETS:
Paid-in capital	$	626,123
Total distributable earnings (loss)		(11,665	)

Total Net Assets	$	614,458

Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized):		62,340
Net Asset Value, offering and redemption price per share (a):	$	9.86
Cost of investments in non-affiliates	$	614,436
Cost of repurchase agreements		13,200
Cost of foreign currency		4


	Six Circles U.S. Unconstrained Equity Fund
ASSETS:
Investments in non-affiliates, at value	$	15,083,558
Deposits at broker for futures contracts		6,172
Receivables:
Investment securities sold		27,642
Fund shares sold		9,557
Interest and dividends from non-affiliates		10,069
Tax reclaims		44

Total Assets		15,137,042


LIABILITIES:
Payables:
Due to custodian — cash		13,091
Investment securities purchased		1,767
Fund shares redeemed		37,559
Variation margin on futures contracts		1,139
Accrued liabilities:
Investment advisory fees		511
Administration fees		62
Custodian and accounting fees		114
Trustees’ fees		29
Registration and filing fees		12
Other		329

Total Liabilities		54,613

Net Assets	$	15,082,429


NET ASSETS:
Paid-in capital	$	13,826,940
Total distributable earnings (loss)		1,255,489

Total Net Assets	$	15,082,429

Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized):		1,257,876
Net Asset Value, offering and redemption price per share (a):	$	11.99
Cost of investments in non-affiliates	$	14,080,519


	Six Circles International Unconstrained Equity Fund
ASSETS:
Investments in non-affiliates, at value	$	11,587,404
Foreign currency, at value		967
Deposits at broker for futures contracts		6,834
Prepaid expenses		—	(a)
Receivables:
Investment securities sold		7,915
Fund shares sold		5,983
Interest and dividends from non-affiliates		9,194
Tax reclaims		61,272

Total Assets		11,679,569


LIABILITIES:
Payables:
Due to custodian — cash		1,903
Investment securities purchased		4,505
Fund shares redeemed		6,222
Variation margin on futures contracts		1,210
Accrued liabilities:
Investment advisory fees		485
Administration fees		63
Custodian and accounting fees		597
Trustees’ fees		13
Deferred foreign capital gains tax		508
Registration and filing fees		3
Other		198

Total Liabilities		15,707

Net Assets	$	11,663,862


NET ASSETS:
Paid-in capital	$	12,974,000
Total distributable earnings (loss)		(1,310,138	)

Total Net Assets	$	11,663,862

Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized):		1,302,971
Net Asset Value, offering and redemption price per share (b):	$	8.95
Cost of investments in non-affiliates	$	12,788,316
Cost of foreign currency		967


	Six Circles Global Bond Fund
ASSETS:
Investments in non-affiliates, at value	$	7,669,641
Repurchase agreements, at value		45,400
Foreign currency, at value		5,586
Deposits at broker for futures contracts		1,952
Deposits at broker for centrally cleared swaps		5,021
Receivables:
Investment securities sold		37,339
Investment securities sold — delayed delivery securities		302,551
Fund shares sold		2,414
Interest and dividends from non-affiliates		37,581
Variation margin on futures contracts		430
Variation margin on centrally cleared swaps (net upfront payments of $8,743)		1,647
Unrealized appreciation on forward foreign currency exchange contracts		152,278

Total Assets		8,261,840


LIABILITIES:
Payables:
Securities sold short, at value		103,245
Due to custodian — cash		2,201
Deposits from broker for OTC contracts		19,095
Interest expense		32
Investment securities purchased		212,576
Investment securities purchased — delayed delivery securities		686,386
Fund shares redeemed		10,155
Outstanding options written, at fair value		1,385
Unrealized depreciation on forward foreign currency exchange contracts		15,513
Outstanding OTC swap contracts, at value (net upfront receipts of $(—)(a))		128
Accrued liabilities:
Investment advisory fees		357
Administration fees		67
Custodian and accounting fees		380
Trustees’ fees		9
Registration and filing fees		7
Other		193

Total Liabilities		1,051,729

Net Assets	$	7,210,111


NET ASSETS:
Paid-in capital	$	8,060,154
Total distributable earnings (loss)		(850,043	)

Total Net Assets	$	7,210,111

Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized):		793,676
Net Asset Value, offering and redemption price per share (b):	$	9.08
Cost of investments in non-affiliates	$	8,820,926
Cost of repurchase agreements		45,400
Cost of foreign currency		5,586
Proceeds from securities sold short		(103,263	)
Premiums received from options written		(1,076	)


	Six Circles Tax Aware Bond Fund
ASSETS:
Investments in non-affiliates, at value	$	5,178,968
Cash		55
Deposits at broker for futures contracts		246
Receivables:
Investment securities sold		3,697
Fund shares sold		3,702
Interest and dividends from non-affiliates		51,599

Total Assets		5,238,267


LIABILITIES:
Payables:
Investment securities purchased		150,826
Fund shares redeemed		2,841
Variation margin on futures contracts		62
Accrued liabilities:
Investment advisory fees		449
Administration fees		60
Custodian and accounting fees		108
Trustees’ fees		11
Registration and filing fees		—	(a)
Other		224

Total Liabilities		154,581

Net Assets	$	5,083,686


NET ASSETS:
Paid-in capital	$	5,583,790
Total distributable earnings (loss)		(500,104	)

Total Net Assets	$	5,083,686

Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized):		531,148
Net Asset Value, offering and redemption price per share (b):	$	9.57
Cost of investments in non-affiliates	$	5,581,729


	Six Circles Credit Opportunities Fund
ASSETS:
Investments in non-affiliates, at value	$	3,314,293
Cash		132
Deposits at broker for futures contracts		949
Deposits at broker for centrally cleared swaps		2,472
Deposits at broker for OTC contracts		10
Receivables:
Investment securities sold		48,463
Fund shares sold		2,345
Interest and dividends from non-affiliates		45,023
Variation margin on futures contracts		1,565
Unrealized appreciation on forward foreign currency exchange contracts		376

Total Assets		3,415,628


LIABILITIES:
Payables:
Due to custodian — foreign currency		—	(a)
Investment securities purchased		155,959
Fund shares redeemed		735
Variation margin on centrally cleared swaps (net upfront payments of $152)		321
Unrealized depreciation on forward foreign currency exchange contracts		21
Outstanding OTC swap contracts, at value (net upfront receipts of $25)		211
Unrealized depreciation on unfunded commitments		32
Accrued liabilities:
Investment advisory fees		582
Administration fees		48
Custodian and accounting fees		127
Registration and filing fees		—	(a)
Other		365

Total Liabilities		158,401

Net Assets	$	3,257,227


NET ASSETS:
Paid-in capital	$	3,683,107
Total distributable earnings (loss)		(425,880	)

Total Net Assets	$	3,257,227

Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		373,602
Net Asset Value, offering and redemption price per share (b):	$	8.72
Cost of investments in non-affiliates	$	3,630,279


	Six Circles Ultra Short Duration Fund
INVESTMENT INCOME:
Interest income from non-affiliates	$	2,951

Total investment income		2,951


EXPENSES:
Investment advisory fees		763
Administration fees		30
Custodian and accounting fees		66
Professional fees		40
Trustees’ fees		8
Printing and mailing costs		8
Registration and filing fees		16
Transfer agency fees		14
Interest expense		2
Other		4

Total expenses		951

Less advisory fees waived		(409	)

Net expenses		542

Net investment income (loss)		2,409


REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on:
Investments in non-affiliates		(5,588	)
Futures contracts		625
Foreign currency transactions		202
Forward foreign currency exchange contracts		6,214
Swaps		(73	)

Net realized gain (loss)		1,380

Change in net unrealized appreciation (depreciation) of:
Investments in non-affiliates		(10,418	)
Futures contracts		164
Foreign currency translations		4
Forward foreign currency exchange contracts		(664	)
Swaps		69

Change in net unrealized appreciation (depreciation)		(10,845	)

Net realized/unrealized gains (losses)		(9,465	)

Change in net assets resulting from operations	$	(7,056	)


	Six Circles Tax Aware Ultra Short Duration Fund

INVESTMENT INCOME:
Interest income from non-affiliates	$	2,255

Total investment income		2,255


EXPENSES:
Investment advisory fees		789
Administration fees		29
Custodian and accounting fees		55
Professional fees		40
Trustees’ fees		8
Printing and mailing costs		8
Registration and filing fees		13
Transfer agency fees		14
Interest expense		2
Other		5

Total expenses		963

Less advisory fees waived		(490	)

Net expenses		473

Net investment income (loss)		1,782


REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on:
Investments in non-affiliates		(453	)
Futures contracts		(165	)
Foreign currency transactions		116
Forward foreign currency exchange contracts		537
Swaps		(75	)

Net realized gain (loss)		(40	)

Change in net unrealized appreciation (depreciation) of:
Investments in non-affiliates		(8,260	)
Futures contracts		178
Foreign currency translations		2
Forward foreign currency exchange contracts		899
Swaps		65

Change in net unrealized appreciation (depreciation)		(7,116	)

Net realized/unrealized gains (losses)		(7,156	)

Change in net assets resulting from operations	$	(5,374	)


	Six Circles Ultra Short Duration Fund
	Period Ended June 30, 2022			Year Ended December 31, 2021
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	2,409		$	3,939
Net realized gain (loss)		1,380			1,065
Change in net unrealized appreciation (depreciation)		(10,845	)		(4,307	)

Change in net assets resulting from operations		(7,056	)		697


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(2,488	)		(5,475	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		(10,787	)		108,673


NET ASSETS:
Change in net assets		(20,331	)		103,895
Beginning of period		620,423			516,528

End of period	$	600,092		$	620,423


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	42,054		$	165,274
Distributions reinvested		2,488			5,475
Cost of shares redeemed		(55,329	)		(62,076	)

Total change in net assets resulting from capital transactions	$	(10,787	)	$	108,673


SHARE TRANSACTIONS:
Issued		4,255			16,494
Reinvested		253			548
Redeemed		(5,608	)		(6,197	)

Change in Shares		(1,100	)		10,845


	Six Circles Tax Aware Ultra Short Duration Fund
	Period Ended June 30, 2022			Year Ended December 31, 2021
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	1,782		$	3,812
Net realized gain (loss)		(40	)		514
Change in net unrealized appreciation (depreciation)		(7,116	)		(3,916	)

Change in net assets resulting from operations		(5,374	)		410


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(1,701	)		(3,511	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		(21,534	)		77,342


NET ASSETS:
Change in net assets		(28,609	)		74,241
Beginning of period		643,067			568,826

End of period	$	614,458		$	643,067


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	47,205		$	153,592
Distributions reinvested		1,699			3,508
Cost of shares redeemed		(70,438	)		(79,758	)

Total change in net assets resulting from capital transactions	$	(21,534	)	$	77,342


SHARE TRANSACTIONS:
Issued		4,765			15,352
Reinvested		172			351
Redeemed		(7,122	)		(7,972	)

Change in Shares		(2,185	)		7,731


	Six Circles U.S. Unconstrained Equity Fund
	Period Ended June 30, 2022			Year Ended December 31, 2021
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	99,441		$	218,175
Net realized gain (loss)		164,929			2,354,603
Change in net unrealized appreciation (depreciation)		(4,056,780	)		1,874,997

Change in net assets resulting from operations		(3,792,410	)		4,447,775


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		—			(2,760,755	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		536,886			3,586,515


NET ASSETS:
Change in net assets		(3,255,524	)		5,273,535
Beginning of period		18,337,953			13,064,418

End of period	$	15,082,429		$	18,337,953


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	2,073,096		$	4,813,126
Distributions reinvested		—			2,754,133
Cost of shares redeemed		(1,536,210	)		(3,980,744	)

Total change in net assets resulting from capital transactions	$	536,886		$	3,586,515


SHARE TRANSACTIONS:
Issued		152,688			322,875
Reinvested		—			187,484
Redeemed		(116,798	)		(260,212	)

Change in Shares		35,890			250,147


	Six Circles International Unconstrained Equity Fund
	Period Ended June 30, 2022			Year Ended December 31, 2021
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	275,088		$	292,581
Net realized gain (loss)		(178,753	)		546,679
Change in net unrealized appreciation (depreciation)		(2,934,126	)		503,192

Change in net assets resulting from operations		(2,837,791	)		1,342,452


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		—			(338,020	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		273,090			4,602,493


NET ASSETS:
Change in net assets		(2,564,701	)		5,606,925
Beginning of period		14,228,563			8,621,638

End of period	$	11,663,862		$	14,228,563


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	2,200,544		$	5,240,263
Distributions reinvested		—			337,426
Cost of shares redeemed		(1,927,454	)		(975,196	)

Total change in net assets resulting from capital transactions	$	273,090		$	4,602,493


SHARE TRANSACTIONS:
Issued		217,035			477,185
Reinvested		—			31,594
Redeemed		(196,116	)		(90,332	)

Change in Shares		20,919			418,447


	Six Circles Global Bond Fund
	Period Ended June 30, 2022			Year Ended December 31, 2021
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	43,118		$	62,612
Net realized gain (loss)		207,972			159,916
Change in net unrealized appreciation (depreciation)		(813,335	)		(277,139	)

Change in net assets resulting from operations		(562,245	)		(54,611	)


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(50,278	)		(192,154	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		18,571			1,431,120


NET ASSETS:
Change in net assets		(593,952	)		1,184,355
Beginning of period		7,804,063			6,619,708

End of period	$	7,210,111		$	7,804,063


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	979,138		$	2,078,640
Distributions reinvested		50,278			192,146
Cost of shares redeemed		(1,010,845	)		(839,666	)

Total change in net assets resulting from capital transactions	$	18,571		$	1,431,120


SHARE TRANSACTIONS:
Issued		104,251			206,187
Reinvested		5,365			19,328
Redeemed		(106,746	)		(83,440	)

Change in Shares		2,870			142,075


	Six Circles Tax Aware Bond Fund
	Period Ended June 30, 2022			Year Ended December 31, 2021
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	38,869		$	60,007
Net realized gain (loss)		(94,857	)		(1,305	)
Change in net unrealized appreciation (depreciation)		(457,497	)		4,761

Change in net assets resulting from operations		(513,485	)		63,463


DISTRIBUTIONS TO SHAREHOLDERS:
Distributions to shareholders		(39,814	)		(60,695	)

CAPITAL TRANSACTIONS:
Change in net assets resulting from capital transactions		(755,334	)		1,359,901


NET ASSETS:
Change in net assets		(1,308,633	)		1,362,669
Beginning of period		6,392,319			5,029,650

End of period	$	5,083,686		$	6,392,319


CAPITAL TRANSACTIONS:
Proceeds from shares issued	$	1,783,586		$	1,947,770
Distributions reinvested		39,785			60,684
Cost of shares redeemed		(2,578,705	)		(648,553	)

Total change in net assets resulting from capital transactions	$	(755,334	)	$	1,359,901


SHARE TRANSACTIONS:
Issued		183,297			186,152
Reinvested		4,050			5,810
Redeemed		(267,608	)		(62,019	)

Change in Shares		(80,261	)		129,943