NPORT-EX 2 nportex-08.htm

Janus Henderson Balanced Fund

Schedule of Investments (unaudited)

June 30, 2021

        

Shares or
Principal Amounts

  

Value

 

Asset-Backed/Commercial Mortgage-Backed Securities– 5.4%

   
 

208 Park Avenue Mortgage Trust 2017-280P,

      
 

ICE LIBOR USD 1 Month + 0.8800%, 0.9529%, 9/15/34 (144A)‡

 

$11,417,538

  

$11,417,749

 
 

Angel Oak Mortgage Trust I LLC 2018-2,

      
 

ICE LIBOR USD 12 Month + 0.7600%, 3.6740%, 7/27/48 (144A)‡

 

759,821

  

759,821

 
 

Angel Oak Mortgage Trust I LLC 2019-5, 2.5930%, 10/25/49 (144A)‡

 

5,513,238

  

5,532,789

 
 

Angel Oak Mortgage Trust I LLC 2019-6,

      
 

ICE LIBOR USD 12 Month + 0.9500%, 2.6200%, 11/25/59 (144A)‡

 

5,130,576

  

5,161,266

 
 

Angel Oak Mortgage Trust I LLC 2020-3,

      
 

ICE LIBOR USD 12 Month + 1.0000%, 2.4100%, 4/25/65 (144A)‡

 

8,483,764

  

8,536,632

 
 

Arbys Funding LLC 2020-1A, 3.2370%, 7/30/50 (144A)

 

22,076,178

  

23,028,385

 
 

Arroyo Mortgage Trust 2018-1,

      
 

ICE LIBOR USD 12 Month + 0.8500%, 3.7630%, 4/25/48 (144A)‡

 

1,555,446

  

1,555,446

 
 

Bank 2018-BN12 A4, 4.2550%, 5/15/61‡

 

4,125,378

  

4,761,748

 
 

Bank 2019-BN17, 3.7140%, 4/15/52

 

9,215,976

  

10,378,062

 
 

Bank 2019-BN18, 3.5840%, 5/15/62

 

15,686,824

  

17,612,596

 
 

Bank 2019-BN20, 3.0110%, 9/15/62

 

7,541,395

  

8,147,228

 
 

Bank 2019-BN23, 2.9200%, 12/15/52

 

13,566,507

  

14,646,380

 
 

Bank 2019-BNK24, 2.9600%, 11/15/62

 

3,184,800

  

3,428,825

 
 

Barclays Comercial Mortgage Securities LLC 2015-SRCH,

      
 

4.1970%, 8/10/35 (144A)

 

8,386,000

  

9,503,653

 
 

Barclays Comercial Mortgage Securities LLC 2017-DELC,

      
 

ICE LIBOR USD 1 Month + 0.8500%, 0.9229%, 8/15/36 (144A)‡

 

7,553,000

  

7,558,820

 
 

Benchmark Mortgage Trust 2020-B16, 2.7320%, 2/15/53

 

8,236,000

  

8,716,035

 
 

BVRT Financing Trust, 1.8270%, 7/10/32‡

 

444,117

  

444,117

 
 

BVRT Financing Trust 2021-1F M1, 1.5600%, 7/1/33‡

 

3,984,009

  

3,984,276

 
 

BVRT Financing Trust 2021-2F M1, 1.5600%, 1/10/32‡

 

12,468,292

  

12,468,292

 
 

BVRT Financing Trust 2021-CRT1 M2, 2.3270%, 1/10/33‡

 

12,645,000

  

12,668,709

 
 

BVRT Financing Trust 2021-CRT2 M1, 1.8451%, 11/10/32‡

 

13,938,824

  

13,938,824

 
 

BX Commercial Mortgage Trust 2018-IND,

      
 

ICE LIBOR USD 1 Month + 0.7500%, 0.8230%, 11/15/35 (144A)‡

 

6,050,289

  

6,053,093

 
 

BX Commercial Mortgage Trust 2019-OC11, 3.2020%, 12/9/41 (144A)

 

8,223,000

  

8,856,869

 
 

BX Commercial Mortgage Trust 2019-OC11, 3.6050%, 12/9/41 (144A)

 

4,134,000

  

4,535,717

 
 

BX Commercial Mortgage Trust 2019-OC11, 3.8560%, 12/9/41 (144A)

 

8,218,000

  

8,954,089

 
 

BX Commercial Mortgage Trust 2019-OC11, 4.0755%, 12/9/41 (144A)‡

 

12,325,000

  

13,222,431

 
 

BX Commercial Mortgage Trust 2019-XL,

      
 

ICE LIBOR USD 1 Month + 0.9200%, 0.9930%, 10/15/36 (144A)‡

 

15,117,936

  

15,144,103

 
 

BX Commercial Mortgage Trust 2019-XL,

      
 

ICE LIBOR USD 1 Month + 1.0800%, 1.1530%, 10/15/36 (144A)‡

 

2,353,691

  

2,356,388

 
 

BX Commercial Mortgage Trust 2020-FOX A,

      
 

ICE LIBOR USD 1 Month + 1.0000%, 1.0730%, 11/15/32 (144A)‡

 

25,917,974

  

25,984,411

 
 

BX Commercial Mortgage Trust 2020-FOX B,

      
 

ICE LIBOR USD 1 Month + 1.3500%, 1.4230%, 11/15/32 (144A)‡

 

4,590,808

  

4,600,282

 
 

BX Commercial Mortgage Trust 2020-FOX C,

      
 

ICE LIBOR USD 1 Month + 1.5500%, 1.6230%, 11/15/32 (144A)‡

 

4,087,813

  

4,098,994

 
 

BX Commercial Mortgage Trust 2021-LBA AJV,

      
 

ICE LIBOR USD 1 Month + 0.8000%, 0.8730%, 2/15/36 (144A)‡

 

16,583,000

  

16,609,242

 
 

BX Commercial Mortgage Trust 2021-LBA AV,

      
 

ICE LIBOR USD 1 Month + 0.8000%, 0.8730%, 2/15/36 (144A)‡

 

18,857,000

  

18,886,211

 
 

BXP Trust 2017-GM, 3.3790%, 6/13/39 (144A)

 

4,190,000

  

4,564,377

 
 

CarMax Auto Owner Trust 2017-3, 2.7200%, 5/15/23

 

9,785,000

  

9,828,300

 
 

CF Hippolyta Issuer LLC 2021-1A A1, 1.5300%, 3/15/61 (144A)

 

16,837,000

  

16,947,358

 
 

CF Hippolyta Issuer LLC 2021-1A B1, 1.9800%, 3/15/61 (144A)

 

6,358,000

  

6,433,800

 
 

Chase Auto Credit Linked Notes 2021-1 B, 0.8750%, 9/25/28 (144A)

 

8,674,000

  

8,680,390

 
 

CIM Trust 2021-NR1 A1, 2.5690%, 7/25/55 (144A)Ç

 

15,270,367

  

15,266,142

 
 

Cold Storage Trust 2020-ICE5 A,

      
 

ICE LIBOR USD 1 Month + 0.9000%, 0.9729%, 11/15/37 (144A)‡

 

24,568,865

  

24,638,765

 
 

Cold Storage Trust 2020-ICE5 B,

      
 

ICE LIBOR USD 1 Month + 1.3000%, 1.3729%, 11/15/37 (144A)‡

 

10,924,957

  

10,949,766

 
 

Cold Storage Trust 2020-ICE5 C,

      
 

ICE LIBOR USD 1 Month + 1.6500%, 1.7229%, 11/15/37 (144A)‡

 

10,966,242

  

10,993,733

 
 

COLT Funding LLC 2020-2,

      
 

ICE LIBOR USD 12 Month + 1.5000%, 1.8530%, 3/25/65 (144A)‡

 

4,091,312

  

4,115,219

 
 

COLT Funding LLC 2020-3,

      
 

ICE LIBOR USD 12 Month + 1.2000%, 1.5060%, 4/27/65 (144A)‡

 

4,425,438

  

4,442,653

 
 

Connecticut Avenue Securities Trust 2014-C04,

      
 

ICE LIBOR USD 1 Month + 4.9000%, 4.9915%, 11/25/24‡

 

1,187,189

  

1,221,824

 
 

Connecticut Avenue Securities Trust 2016-C03,

      
 

ICE LIBOR USD 1 Month + 5.9000%, 5.9915%, 10/25/28‡

 

2,327,786

  

2,443,641

 
        

        

Shares or
Principal Amounts

  

Value

 

Asset-Backed/Commercial Mortgage-Backed Securities– (continued)

   
 

Connecticut Avenue Securities Trust 2016-C04,

      
 

ICE LIBOR USD 1 Month + 4.2500%, 4.3415%, 1/25/29‡

 

$5,769,094

  

$6,023,100

 
 

Connecticut Avenue Securities Trust 2016-C06 1M2,

      
 

ICE LIBOR USD 1 Month + 4.2500%, 4.3415%, 4/25/29‡

 

7,199,478

  

7,504,158

 
 

Connecticut Avenue Securities Trust 2017-C01,

      
 

ICE LIBOR USD 1 Month + 3.5500%, 3.6415%, 7/25/29‡

 

7,953,361

  

8,227,493

 
 

Connecticut Avenue Securities Trust 2017-C06 1M2,

      
 

ICE LIBOR USD 1 Month + 2.6500%, 2.7415%, 2/25/30‡

 

6,010,030

  

6,118,952

 
 

Connecticut Avenue Securities Trust 2018-R07,

      
 

ICE LIBOR USD 1 Month + 2.4000%, 2.4915%, 4/25/31 (144A)‡

 

7,540,153

  

7,577,495

 
 

Connecticut Avenue Securities Trust 2019-R02,

      
 

ICE LIBOR USD 1 Month + 2.3000%, 2.3915%, 8/25/31 (144A)‡

 

4,205,964

  

4,234,430

 
 

Connecticut Avenue Securities Trust 2019-R03,

      
 

ICE LIBOR USD 1 Month + 2.1500%, 2.2415%, 9/25/31 (144A)‡

 

5,990,225

  

6,032,674

 
 

Connecticut Avenue Securities Trust 2019-R04,

      
 

ICE LIBOR USD 1 Month + 2.1000%, 2.1915%, 6/25/39 (144A)‡

 

6,589,208

  

6,593,287

 
 

Connecticut Avenue Securities Trust 2019-R05,

      
 

ICE LIBOR USD 1 Month + 2.0000%, 2.0915%, 7/25/39 (144A)‡

 

5,499,848

  

5,521,099

 
 

Connecticut Avenue Securities Trust 2019-R07,

      
 

ICE LIBOR USD 1 Month + 2.1000%, 2.1915%, 10/25/39 (144A)‡

 

2,295,281

  

2,303,805

 
 

Connecticut Avenue Securities Trust 2020-R02,

      
 

ICE LIBOR USD 1 Month + 2.0000%, 2.0915%, 1/25/40 (144A)‡

 

14,237,844

  

14,297,962

 
 

Cosmopolitan Hotel Trust 2017,

      
 

ICE LIBOR USD 1 Month + 0.9300%, 1.0029%, 11/15/36 (144A)‡

 

9,655,820

  

9,671,480

 
 

Credit Acceptance Auto Loan Trust 2018-2, 3.9400%, 7/15/27 (144A)

 

838,360

  

844,627

 
 

Credit Suisse Commercial Mortgage Trust 2019-ICE4,

      
 

ICE LIBOR USD 1 Month + 0.9800%, 1.0530%, 5/15/36 (144A)‡

 

28,757,000

  

28,800,505

 
 

Credit Suisse Commercial Mortgage Trust 2019-ICE4 C,

      
 

ICE LIBOR USD 1 Month + 1.4300%, 1.5030%, 5/15/36 (144A)‡

 

5,508,000

  

5,515,513

 
 

Credit Suisse Commercial Mortgage Trust 2020-UNFI, 4.1682%, 12/6/22‡

 

8,316,000

  

8,305,310

 
 

Credit Suisse Commercial Mortgage Trust 2021-WEHO A, 4.0422%, 4/15/23‡

 

15,650,753

  

15,650,042

 
 

DB Master Finance LLC 2019-1A A23, 4.3520%, 5/20/49 (144A)

 

5,344,800

  

5,914,186

 
 

DB Master Finance LLC 2019-1A A2I, 3.7870%, 5/20/49 (144A)

 

6,691,808

  

6,780,143

 
 

DB Master Finance LLC 2019-1A A2II, 4.0210%, 5/20/49 (144A)

 

3,750,203

  

3,956,803

 
 

Diamond Infrastructure Funding LLC 2021-1A A, 1.7600%, 4/15/49 (144A)

 

17,354,000

  

17,268,120

 
 

Domino's Pizza Master Issuer LLC, 4.1180%, 7/25/47 (144A)

 

3,141,473

  

3,388,614

 
 

Domino's Pizza Master Issuer LLC, 4.1160%, 7/25/48 (144A)

 

11,780,925

  

12,293,293

 
 

Domino's Pizza Master Issuer LLC, 4.3280%, 7/25/48 (144A)

 

7,327,125

  

7,976,958

 
 

Domino's Pizza Master Issuer LLC, 3.6680%, 10/25/49 (144A)

 

22,839,888

  

24,677,399

 
 

Drive Auto Receivables Trust 2017-1, 5.1700%, 9/16/24

 

11,239,000

  

11,372,526

 
 

Drive Auto Receivables Trust 2017-2, 5.2700%, 11/15/24

 

9,811,000

  

9,994,189

 
 

Drive Auto Receivables Trust 2017-3, 3.5300%, 12/15/23 (144A)

 

799,309

  

806,589

 
 

Drive Auto Receivables Trust 2018-4, 3.6600%, 11/15/24

 

111,763

  

111,882

 
 

Exeter Automobile Receivables Trust 2021-1A C, 0.7400%, 1/15/26

 

3,548,000

  

3,545,185

 
 

Exeter Automobile Receivables Trust 2021-1A D, 1.0800%, 11/16/26

 

11,355,000

  

11,349,698

 
 

Extended Stay America Trust 2021-ESH A,

      
 

ICE LIBOR USD 1 Month + 1.0800%, 0%, 7/15/38 (144A)‡

 

21,518,000

  

21,518,000

 
 

Extended Stay America Trust 2021-ESH B,

      
 

ICE LIBOR USD 1 Month + 1.3800%, 0%, 7/15/38 (144A)‡

 

5,854,000

  

5,854,000

 
 

Fannie Mae Connecticut Avenue Securities,

      
 

ICE LIBOR USD 1 Month + 5.0000%, 5.0915%, 7/25/25‡

 

6,468,036

  

6,635,030

 
 

Fannie Mae Connecticut Avenue Securities,

      
 

ICE LIBOR USD 1 Month + 5.7000%, 5.7915%, 4/25/28‡

 

4,821,871

  

5,106,996

 
 

Fannie Mae REMICS, 3.0000%, 5/25/48

 

11,695,283

  

12,396,672

 
 

Fannie Mae REMICS, 3.0000%, 11/25/49

 

17,020,449

  

18,023,603

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2016-DNA1 M3,

      
 

ICE LIBOR USD 1 Month + 5.5500%, 5.6416%, 7/25/28‡

 

6,541,858

  

6,830,961

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2016-HQA3 M2,

      
 

ICE LIBOR USD 1 Month + 1.3500%, 1.4415%, 3/25/29‡

 

83,883

  

83,883

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA3 M1,

      
 

ICE LIBOR USD 1 Month + 0.7500%, 0.8416%, 3/25/30‡

 

48,689

  

48,689

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2019-DNA4 M2,

      
 

ICE LIBOR USD 1 Month + 1.9500%, 2.0415%, 10/25/49 (144A)‡

 

2,535,893

  

2,547,859

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2020-DNA6 M2,

      
 

US 30 Day Average SOFR + 2.0000%, 2.0180%, 12/25/50 (144A)‡

 

17,081,000

  

17,239,539

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2020-HQA4 M2,

      
 

ICE LIBOR USD 1 Month + 3.1500%, 3.2415%, 9/25/50 (144A)‡

 

7,444,535

  

7,528,286

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2020-HQA5 M2,

      
 

US 30 Day Average SOFR + 2.6000%, 2.6180%, 11/25/50 (144A)‡

 

27,605,000

  

28,148,497

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2021-DNA2 M2,

      
 

US 30 Day Average SOFR + 2.3000%, 2.3180%, 8/25/33 (144A)‡

 

6,224,000

  

6,382,411

 
 

Freddie Mac Structured Agency Credit Risk Debt Notes 2021-HQA1 M2,

      
 

US 30 Day Average SOFR + 2.2500%, 2.2680%, 8/25/33 (144A)‡

 

9,589,000

  

9,700,135

 
 

Great Wolf Trust,

      
 

ICE LIBOR USD 1 Month + 1.0340%, 1.1070%, 12/15/36 (144A)‡

 

3,938,000

  

3,942,156

 

2

        

Shares or
Principal Amounts

  

Value

 

Asset-Backed/Commercial Mortgage-Backed Securities– (continued)

   
 

Great Wolf Trust,

      
 

ICE LIBOR USD 1 Month + 1.3340%, 1.4070%, 12/15/36 (144A)‡

 

$4,405,000

  

$4,406,535

 
 

Great Wolf Trust,

      
 

ICE LIBOR USD 1 Month + 1.6330%, 1.7060%, 12/15/36 (144A)‡

 

4,900,000

  

4,901,795

 
 

GS Mortgage Securities Trust 2018-GS10, 4.1550%, 7/10/51‡

 

5,798,165

  

6,665,765

 
 

GS Mortgage Securities Trust 2018-GS9, 3.9920%, 3/10/51‡

 

9,673,931

  

10,984,527

 
 

GS Mortgage Securities Trust 2020-GC45, 2.9106%, 2/13/53

 

8,130,000

  

8,717,135

 
 

GS Mortgage Securities Trust 2020-GC47, 2.3772%, 5/12/53

 

11,479,000

  

11,829,127

 
 

Jack in the Box Funding LLC 2019-1A A23, 4.9700%, 8/25/49 (144A)

 

10,797,609

  

11,843,045

 
 

Jack in the Box Funding LLC 2019-1A A2I, 3.9820%, 8/25/49 (144A)

 

11,899,508

  

12,091,782

 
 

Jack in the Box Funding LLC 2019-1A A2II, 4.4760%, 8/25/49 (144A)

 

22,393,778

  

23,652,770

 
 

Life Financial Services Trust 2021-BMR A,

      
 

ICE LIBOR USD 1 Month + 0.7000%, 0.7730%, 3/15/38 (144A)‡

 

31,098,000

  

31,150,053

 
 

Life Financial Services Trust 2021-BMR C,

      
 

ICE LIBOR USD 1 Month + 1.1000%, 1.1730%, 3/15/38 (144A)‡

 

15,381,000

  

15,413,820

 
 

Mercury Financial Credit Card Master Trust 2021-1A A,

      
 

1.5400%, 3/20/26 (144A)

 

14,022,000

  

14,067,332

 
 

MHC Commercial Mortgage Trust 2021-MHC A,

      
 

ICE LIBOR USD 1 Month + 0.8010%, 0.8738%, 4/15/38 (144A)‡

 

32,472,249

  

32,497,974

 
 

MHC Commercial Mortgage Trust 2021-MHC C,

      
 

ICE LIBOR USD 1 Month + 1.3510%, 1.4238%, 4/15/38 (144A)‡

 

15,653,295

  

15,668,322

 
 

Morgan Stanley Capital I Trust 2016-UB11, 2.7820%, 8/15/49

 

10,052,000

  

10,644,298

 
 

Morgan Stanley Capital I Trust 2019-H6, 3.4170%, 6/15/52

 

5,254,084

  

5,816,095

 
 

Morgan Stanley Capital I Trust 2015-UBS8, 3.8090%, 12/15/48

 

8,173,000

  

8,949,974

 
 

Morgan Stanley Capital I Trust 2018-H3, 4.1770%, 7/15/51

 

8,398,928

  

9,667,743

 
 

Morgan Stanley Capital I Trust 2018-H4, 4.3100%, 12/15/51

 

12,532,337

  

14,490,893

 
 

MRA Issuance Trust 2021-NA1 A1X,

      
 

ICE LIBOR USD 1 Month + 1.5000%, 0%, 3/8/22 (144A)‡

 

27,016,000

  

27,016,000

 
 

New Residential Mortgage Loan Trust 2018-2,

      
 

ICE LIBOR USD 6 Month + 0.6800%, 4.5000%, 2/25/58 (144A)‡

 

2,356,905

  

2,543,855

 
 

Newday Funding Master Issuer PLC 2021-1A A2,

      
 

SOFR + 1.1000%, 1.1100%, 3/15/29 (144A)‡

 

13,345,000

  

13,415,622

 
 

NRZ Excess Spread Collateralized Notes 2020-PLS1 A,

      
 

3.8440%, 12/25/25 (144A)

 

6,774,894

  

6,838,713

 
 

Oak Street Investment Grade Net Lease Fund 2020-1A A1,

      
 

1.8500%, 11/20/50 (144A)

 

13,441,854

  

13,641,233

 
 

OneMain Direct Auto Receivables Trust 2018-1, 3.8500%, 10/14/25 (144A)

 

1,805,000

  

1,837,035

 
 

OneMain Direct Auto Receivables Trust 2018-1, 4.4000%, 1/14/28 (144A)

 

1,842,000

  

1,878,746

 
 

Planet Fitness Master Issuer LLC 2018-1A, 4.2620%, 9/5/48 (144A)

 

9,635,530

  

9,635,530

 
 

Planet Fitness Master Issuer LLC 2019-1A, 3.8580%, 12/5/49 (144A)

 

11,944,110

  

12,030,362

 
 

Preston Ridge Partners Mortgage Trust 2020-1A, 2.9810%, 2/25/25 (144A)Ç

 

3,264,283

  

3,292,276

 
 

Preston Ridge Partners Mortgage Trust 2020-3, 2.8570%, 9/25/25 (144A)Ç

 

19,645,254

  

19,805,622

 
 

Preston Ridge Partners Mortgage Trust 2020-4 A1, 2.9510%, 10/25/25 (144A)Ç

 

12,796,226

  

12,850,549

 
 

Preston Ridge Partners Mortgage Trust 2020-5 A1, 3.1040%, 11/25/25 (144A)Ç

 

6,551,926

  

6,568,971

 
 

Santander Drive Auto Receivables Trust 2020-3 D, 1.6400%, 11/16/26

 

27,434,000

  

27,803,057

 
 

Sequoia Mortgage Trust 2013-5, 2.5000%, 5/25/43 (144A)‡

 

3,500,771

  

3,557,830

 
 

Sequoia Mortgage Trust 2020-2, 3.5000%, 3/25/50 (144A)‡

 

1,782,467

  

1,816,951

 
 

Spruce Hill Mortgage Loan Trust 2020-SH1 A1,

      
 

ICE LIBOR USD 12 Month + 0.9500%, 2.5210%, 1/28/50 (144A)‡

 

1,619,881

  

1,637,455

 
 

Spruce Hill Mortgage Loan Trust 2020-SH1 A2,

      
 

ICE LIBOR USD 12 Month + 1.0500%, 2.6240%, 1/28/50 (144A)‡

 

4,045,113

  

4,087,351

 
 

Spruce Hill Mortgage Loan Trust 2020-SH2, 3.4070%, 6/25/55 (144A)‡

 

9,056,830

  

9,209,674

 
 

Taco Bell Funding LLC 2016-1A A23, 4.9700%, 5/25/46 (144A)

 

8,208,960

  

8,871,115

 
 

Taco Bell Funding LLC 2018-1A A2I, 4.3180%, 11/25/48 (144A)

 

10,887,825

  

10,887,825

 
 

Taco Bell Funding LLC 2018-1A A2II, 4.9400%, 11/25/48 (144A)

 

7,855,575

  

8,863,285

 
 

Vantage Data Centers LLC 2020-1A A2, 1.6450%, 9/15/45 (144A)

 

26,390,000

  

26,434,833

 
 

Vantage Data Centers LLC 2020-2A A2, 1.9920%, 9/15/45 (144A)

 

11,511,000

  

11,464,123

 
 

VASA Trust 2021-VASA A,

      
 

ICE LIBOR USD 1 Month + 0.9000%, 0.9730%, 7/15/39 (144A)‡

 

8,418,000

  

8,380,588

 
 

VCAT Asset Securitization LLC 2020-NPL1, 3.6710%, 8/25/50 (144A)Ç

 

6,058,992

  

6,149,693

 
 

VCAT Asset Securitization LLC 2021-NPL1 A1, 2.2891%, 12/26/50 (144A)

 

6,347,995

  

6,365,086

 
 

Wells Fargo Commercial Mortgage Trust 2021-SAVE A,

      
 

ICE LIBOR USD 1 Month + 1.1500%, 1.2230%, 2/15/40 (144A)‡

 

8,375,727

  

8,412,102

 
 

Wendy's Funding LLC, 3.5730%, 3/15/48 (144A)

 

3,861,930

  

3,940,107

 
 

Wendy's Funding LLC, 3.8840%, 3/15/48 (144A)

 

1,199,495

  

1,300,690

 
 

Wendy's Funding LLC, 3.7830%, 6/15/49 (144A)

 

7,158,375

  

7,631,093

 
 

Wendy's Funding LLC 2021-1A A2I, 2.3700%, 6/15/51 (144A)

 

7,319,000

  

7,347,202

 
 

Wendy's Funding LLC 2021-1A A2II, 2.7750%, 6/15/51 (144A)

 

8,514,000

  

8,583,253

 
 

Westlake Automobile Receivable Trust 2020-1A D, 2.8000%, 6/16/25 (144A)

 

12,457,000

  

12,896,248

 
 

Wingstop Funding LLC 2020-1A A2, 2.8410%, 12/5/50 (144A)

 

13,299,668

  

13,780,096

 
 

Zaxby's Funding LLC 2021-1A A2, 3.2380%, 7/30/51 (144A)

 

10,802,000

  

10,992,225

 

Total Asset-Backed/Commercial Mortgage-Backed Securities (cost $1,421,181,424)

 

1,443,947,066

 

3

        

Shares or
Principal Amounts

  

Value

 

Bank Loans and Mezzanine Loans– 0.4%

   

Basic Industry – 0%

   
 

Alpha 3 BV, ICE LIBOR USD 1 Month + 2.5000%, 3.0000%, 3/18/28‡

 

$16,196,000

  

$16,104,978

 

Capital Goods – 0.1%

   
 

Madison IAQ LLC, ICE LIBOR USD 1 Month + 3.2500%, 3.7500%, 6/21/28ƒ,‡

 

25,741,901

  

25,741,901

 

Consumer Non-Cyclical – 0.3%

   
 

Elanco Animal Health Inc, ICE LIBOR USD 1 Month + 1.7500%, 1.8651%, 8/1/27‡

 

34,232,001

  

33,690,108

 
 

ICON Luxembourg Sarl, ICE LIBOR USD 1 Month + 2.5000%, 3.0000%, 6/16/28ƒ,‡

 

33,101,159

  

33,147,832

 
 

Indigo Merger Sub Inc, ICE LIBOR USD 1 Month + 2.5000%, 3.0000%, 7/1/28ƒ,‡

 

8,247,174

  

8,258,803

 
  

75,096,743

 

Total Bank Loans and Mezzanine Loans (cost $117,241,222)

 

116,943,622

 

Corporate Bonds– 13.5%

   

Banking – 3.0%

   
 

Ally Financial Inc,

      
 

US Treasury Yield Curve Rate 5 Year + 3.8680%, 4.7000%‡,µ

 

19,870,000

  

20,579,359

 
 

Bank of America Corp, ICE LIBOR USD 3 Month + 1.5120%, 3.7050%, 4/24/28‡

 

26,557,000

  

29,366,249

 
 

Bank of America Corp, ICE LIBOR USD 3 Month + 1.0700%, 3.9700%, 3/5/29‡

 

11,944,000

  

13,463,842

 
 

Bank of America Corp, SOFR + 1.0600%, 2.0870%, 6/14/29‡

 

25,438,000

  

25,643,837

 
 

Bank of America Corp, SOFR + 2.1500%, 2.5920%, 4/29/31‡

 

51,219,000

  

52,803,572

 
 

Bank of America Corp, ICE LIBOR USD 3 Month + 3.1350%, 5.2000%‡,µ

 

7,250,000

  

7,541,813

 
 

Bank of America Corp, ICE LIBOR USD 3 Month + 3.7050%, 6.2500%‡,µ

 

21,700,000

  

24,005,625

 
 

Bank of New York Mellon Corp,

      
 

US Treasury Yield Curve Rate 5 Year + 4.3580%, 4.7000%‡,µ

 

31,297,000

  

34,152,851

 
 

BNP Paribas SA, ICE LIBOR USD 3 Month + 2.2350%, 4.7050%, 1/10/25 (144A)‡

 

11,123,000

  

12,135,154

 
 

BNP Paribas SA, ICE LIBOR USD 3 Month + 1.1110%, 2.8190%, 11/19/25 (144A)‡

 

7,289,000

  

7,669,059

 
 

BNP Paribas SA,

      
 

US Treasury Yield Curve Rate 5 Year + 2.0500%, 2.5880%, 8/12/35 (144A)‡

 

28,115,000

  

27,465,907

 
 

Citigroup Inc, ICE LIBOR USD 3 Month + 1.5630%, 3.8870%, 1/10/28‡

 

36,115,000

  

40,194,040

 
 

Citigroup Inc, SOFR + 3.9140%, 4.4120%, 3/31/31‡

 

24,901,000

  

29,076,086

 
 

Citigroup Inc, ICE LIBOR USD 3 Month + 4.0680%, 5.9500%‡,µ

 

12,745,000

  

13,399,519

 
 

Citigroup Inc, ICE LIBOR USD 3 Month + 3.4660%, 5.3500%‡,µ

 

8,824,000

  

9,155,047

 
 

Citigroup Inc, ICE LIBOR USD 3 Month + 3.4230%, 6.3000%‡,µ

 

2,012,000

  

2,164,308

 
 

Citigroup Inc, ICE LIBOR USD 3 Month + 3.9050%, 5.9500%‡,µ

 

8,361,000

  

9,150,696

 
 

Citigroup Inc, SOFR + 3.8130%, 5.0000%‡,µ

 

14,294,000

  

14,960,100

 
 

Credit Agricole SA/London, SOFR + 1.6760%, 1.9070%, 6/16/26 (144A)‡

 

6,401,000

  

6,526,081

 
 

First Republic Bank/CA, 4.6250%, 2/13/47

 

5,767,000

  

7,314,586

 
 

Goldman Sachs Group Inc, 3.5000%, 4/1/25

 

39,166,000

  

42,491,088

 
 

Goldman Sachs Group Inc,

      
 

US Treasury Yield Curve Rate 5 Year + 3.2240%, 4.9500%‡,µ

 

6,037,000

  

6,452,708

 
 

HSBC Holdings PLC, SOFR + 1.5380%, 1.6450%, 4/18/26‡

 

13,488,000

  

13,668,843

 
 

HSBC Holdings PLC, SOFR + 1.2900%, 1.5890%, 5/24/27‡

 

27,071,000

  

27,123,178

 
 

JPMorgan Chase & Co, SOFR + 1.8500%, 2.0830%, 4/22/26‡

 

9,471,000

  

9,793,432

 
 

JPMorgan Chase & Co, ICE LIBOR USD 3 Month + 1.2450%, 3.9600%, 1/29/27‡

 

24,028,000

  

26,757,703

 
 

JPMorgan Chase & Co, SOFR + 0.8850%, 1.5780%, 4/22/27‡

 

23,734,000

  

23,856,967

 
 

JPMorgan Chase & Co, SOFR + 2.5150%, 2.9560%, 5/13/31‡

 

47,149,000

  

49,530,338

 
 

JPMorgan Chase & Co, SOFR + 3.3800%, 5.0000%, 7/31/69‡

 

7,243,000

  

7,655,489

 
 

JPMorgan Chase & Co, SOFR + 3.1250%, 4.6000%, 1/23/70‡

 

7,646,000

  

7,923,550

 
 

Morgan Stanley, SOFR + 1.9900%, 2.1880%, 4/28/26‡

 

24,836,000

  

25,787,260

 
 

Morgan Stanley, 4.3500%, 9/8/26

 

14,618,000

  

16,551,467

 
 

Morgan Stanley, 3.9500%, 4/23/27

 

22,247,000

  

24,858,091

 
 

Morgan Stanley, SOFR + 0.8790%, 1.5930%, 5/4/27‡

 

11,537,000

  

11,618,628

 
 

Morgan Stanley, SOFR + 1.0340%, 1.7940%, 2/13/32‡

 

20,010,000

  

19,225,849

 
 

National Australia Bank Ltd, 2.9900%, 5/21/31 (144A)

 

28,726,000

  

29,165,337

 
 

Natwest Group PLC,

      
 

US Treasury Yield Curve Rate 5 Year + 2.3500%, 3.0320%, 11/28/35‡

 

19,908,000

  

19,939,853

 
 

SVB Financial Group, 1.8000%, 2/2/31

 

10,392,000

  

9,940,158

 
 

SVB Financial Group,

      
 

US Treasury Yield Curve Rate 10 Year + 3.0640%, 4.1000%‡,µ

 

23,100,000

  

23,431,947

 
 

Westpac Banking Corp,

      
 

US Treasury Yield Curve Rate 5 Year + 1.7500%, 2.6680%, 11/15/35‡

 

19,870,000

  

19,544,529

 
  

802,084,146

 

Basic Industry – 0.3%

   
 

Allegheny Technologies Inc, 5.8750%, 12/1/27

 

14,411,000

  

15,095,522

 
 

Axalta Coating Systems Ltd, 3.3750%, 2/15/29 (144A)

 

27,737,000

  

27,112,917

 
 

Element Solutions Inc, 3.8750%, 9/1/28 (144A)

 

20,844,000

  

21,267,133

 
 

Georgia-Pacific LLC, 3.1630%, 11/15/21 (144A)

 

13,275,000

  

13,352,962

 
 

Reliance Steel & Aluminum Co, 4.5000%, 4/15/23

 

7,932,000

  

8,397,644

 
  

85,226,178

 

Brokerage – 0.3%

   
 

Charles Schwab Corp,

      
 

US Treasury Yield Curve Rate 5 Year + 4.9710%, 5.3750%‡,µ

 

55,634,000

  

61,492,260

 
 

Charles Schwab Corp,

      
 

US Treasury Yield Curve Rate 10 Year + 3.0790%, 4.0000%‡,µ

 

13,232,000

  

13,536,336

 
  

75,028,596

 

4

        

Shares or
Principal Amounts

  

Value

 

Corporate Bonds– (continued)

   

Capital Goods – 0.6%

   
 

Boeing Co, 4.5080%, 5/1/23

 

$21,715,000

  

$23,150,246

 
 

Boeing Co, 4.8750%, 5/1/25

 

6,955,000

  

7,792,857

 
 

Boeing Co, 2.1960%, 2/4/26

 

7,195,000

  

7,263,771

 
 

Boeing Co, 3.2500%, 2/1/28

 

7,676,000

  

8,137,249

 
 

Boeing Co, 3.6250%, 2/1/31

 

16,464,000

  

17,707,495

 
 

Boeing Co, 3.9500%, 8/1/59

 

10,029,000

  

10,492,684

 
 

General Dynamics Corp, 3.5000%, 4/1/27

 

7,372,000

  

8,179,297

 
 

TransDigm Inc, 4.6250%, 1/15/29 (144A)

 

34,533,000

  

34,545,087

 
 

Wabtec Corp, 4.4000%, 3/15/24

 

12,766,000

  

13,831,803

 
 

Wabtec Corp, 4.9500%, 9/15/28

 

10,958,000

  

12,711,133

 
 

Westinghouse Air Brake Technologies Corp, 3.2000%, 6/15/25

 

9,827,000

  

10,451,012

 
  

154,262,634

 

Communications – 1.6%

   
 

AT&T Inc, 3.8000%, 12/1/57 (144A)

 

13,125,000

  

13,674,707

 
 

AT&T Inc, 3.6500%, 9/15/59 (144A)

 

2,171,000

  

2,201,608

 
 

CCO Holdings LLC / CCO Holdings Capital Corp, 4.2500%, 2/1/31 (144A)

 

23,726,000

  

24,170,862

 
 

CCO Holdings LLC / CCO Holdings Capital Corp, 4.5000%, 5/1/32

 

36,397,000

  

37,716,391

 
 

Cellnex Finance Co SA, 3.8750%, 7/7/41 (144A)

 

19,897,000

  

19,825,570

 
 

CenturyLink Inc, 5.8000%, 3/15/22

 

5,493,000

  

5,652,791

 
 

Charter Communications Operating LLC / Charter Communications Operating

      
 

Capital, 2.8000%, 4/1/31

 

16,387,000

  

16,752,619

 
 

Charter Communications Operating LLC / Charter Communications Operating

      
 

Capital, 6.4840%, 10/23/45

 

3,584,000

  

4,935,819

 
 

Charter Communications Operating LLC / Charter Communications Operating

      
 

Capital, 5.3750%, 5/1/47

 

6,355,000

  

7,787,482

 
 

Charter Communications Operating LLC / Charter Communications Operating

      
 

Capital, 4.8000%, 3/1/50

 

9,331,000

  

10,717,110

 
 

Comcast Corp, 3.7500%, 4/1/40

 

6,795,000

  

7,659,869

 
 

Crown Castle International Corp, 3.6500%, 9/1/27

 

7,214,000

  

7,954,107

 
 

Crown Castle International Corp, 3.1000%, 11/15/29

 

11,789,000

  

12,507,650

 
 

CSC Holdings LLC, 4.1250%, 12/1/30 (144A)

 

20,573,000

  

20,444,419

 
 

CSC Holdings LLC, 4.6250%, 12/1/30 (144A)

 

24,137,000

  

23,681,052

 
 

CSC Holdings LLC, 3.3750%, 2/15/31 (144A)

 

14,413,000

  

13,618,988

 
 

CSC Holdings LLC, 5.0000%, 11/15/31 (144A)

 

9,878,000

  

9,925,414

 
 

Fox Corp, 4.0300%, 1/25/24

 

8,690,000

  

9,413,982

 
 

GCI LLC, 4.7500%, 10/15/28 (144A)

 

34,870,000

  

35,689,445

 
 

Level 3 Financing Inc, 3.8750%, 11/15/29 (144A)

 

15,892,000

  

17,020,809

 
 

Sirius XM Radio Inc, 4.1250%, 7/1/30 (144A)

 

24,860,000

  

25,080,757

 
 

T-Mobile USA Inc, 3.5000%, 4/15/25

 

11,535,000

  

12,502,152

 
 

T-Mobile USA Inc, 2.2500%, 2/15/26

 

10,787,000

  

10,867,903

 
 

T-Mobile USA Inc, 3.7500%, 4/15/27

 

15,959,000

  

17,634,695

 
 

T-Mobile USA Inc, 2.6250%, 2/15/29

 

27,093,000

  

26,754,337

 
 

T-Mobile USA Inc, 3.0000%, 2/15/41

 

10,968,000

  

10,832,765

 
 

Verizon Communications Inc, 3.0000%, 3/22/27

 

7,969,000

  

8,575,679

 
 

Verizon Communications Inc, 2.1000%, 3/22/28

 

6,490,000

  

6,625,740

 
 

Verizon Communications Inc, 3.5500%, 3/22/51

 

10,962,000

  

11,711,436

 
  

431,936,158

 

Consumer Cyclical – 1.0%

   
 

1011778 BC ULC / New Red Finance Inc, 4.0000%, 10/15/30 (144A)

 

38,190,000

  

36,948,825

 
 

Choice Hotels International Inc, 3.7000%, 12/1/29

 

15,441,000

  

16,715,037

 
 

Choice Hotels International Inc, 3.7000%, 1/15/31

 

4,553,000

  

4,926,983

 
 

Dollar General Corp, 4.1250%, 4/3/50

 

11,279,000

  

13,212,978

 
 

Experian Finance PLC, 2.7500%, 3/8/30 (144A)

 

21,286,000

  

21,998,741

 
 

GLP Capital LP / GLP Financing II Inc, 5.2500%, 6/1/25

 

4,305,000

  

4,845,923

 
 

GLP Capital LP / GLP Financing II Inc, 5.3750%, 4/15/26

 

9,419,000

  

10,841,363

 
 

GLP Capital LP / GLP Financing II Inc, 5.3000%, 1/15/29

 

1,226,000

  

1,428,290

 
 

GLP Capital LP / GLP Financing II Inc, 4.0000%, 1/15/30

 

17,234,000

  

18,497,425

 
 

GoDaddy Operating Co LLC / GD Finance Co Inc, 3.5000%, 3/1/29 (144A)

 

27,681,000

  

27,501,073

 
 

IHS Markit Ltd, 5.0000%, 11/1/22 (144A)

 

5,524,000

  

5,786,605

 
 

IHS Markit Ltd, 4.7500%, 2/15/25 (144A)

 

8,909,000

  

9,973,626

 
 

Lithia Motors Inc, 3.8750%, 6/1/29 (144A)

 

31,092,000

  

32,228,413

 
 

MDC Holdings Inc, 5.5000%, 1/15/24

 

7,972,000

  

8,734,522

 
 

MGM Resorts International, 7.7500%, 3/15/22

 

1,808,000

  

1,889,722

 
 

Nordstrom Inc, 4.3750%, 4/1/30

 

14,607,000

  

15,220,519

 
 

Service Corp International/US, 3.3750%, 8/15/30

 

7,317,000

  

7,169,197

 
 

Service Corporation International, 4.0000%, 5/15/31

 

19,504,000

  

19,907,245

 
 

Yum! Brands Inc, 4.6250%, 1/31/32

 

19,991,000

  

20,990,550

 
  

278,817,037

 

Consumer Non-Cyclical – 1.9%

   
 

Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc,

      
 

4.9000%, 2/1/46

 

16,716,000

  

21,158,277

 
 

Aramark Services Inc, 6.3750%, 5/1/25 (144A)

 

25,501,000

  

27,094,812

 
 

Coca-Cola Femsa SAB de CV, 2.7500%, 1/22/30

 

9,260,000

  

9,640,401

 

5

        

Shares or
Principal Amounts

  

Value

 

Corporate Bonds– (continued)

   

Consumer Non-Cyclical– (continued)

   
 

CVS Health Corp, 5.0500%, 3/25/48

 

$9,216,000

  

$11,970,438

 
 

DaVita Inc, 4.6250%, 6/1/30 (144A)

 

16,068,000

  

16,521,439

 
 

DaVita Inc, 3.7500%, 2/15/31 (144A)

 

24,911,000

  

23,914,560

 
 

Diageo Capital PLC, 1.3750%, 9/29/25

 

11,362,000

  

11,548,270

 
 

Diageo Capital PLC, 2.0000%, 4/29/30

 

10,703,000

  

10,710,496

 
 

Diageo Capital PLC, 2.1250%, 4/29/32

 

8,585,000

  

8,621,317

 
 

Elanco Animal Health Inc, 5.2720%, 8/28/23

 

19,872,000

  

21,374,124

 
 

Hasbro Inc, 3.9000%, 11/19/29

 

31,209,000

  

34,700,674

 
 

Hasbro Inc, 6.3500%, 3/15/40

 

7,010,000

  

9,773,101

 
 

Hasbro Inc, 5.1000%, 5/15/44

 

7,241,000

  

8,851,224

 
 

HCA Inc, 4.7500%, 5/1/23

 

14,385,000

  

15,413,285

 
 

HCA Inc, 5.3750%, 2/1/25

 

7,877,000

  

8,885,256

 
 

HCA Inc, 5.8750%, 2/15/26

 

4,146,000

  

4,791,325

 
 

HCA Inc, 5.3750%, 9/1/26

 

3,180,000

  

3,659,385

 
 

HCA Inc, 5.6250%, 9/1/28

 

9,208,000

  

10,911,480

 
 

HCA Inc, 5.8750%, 2/1/29

 

6,941,000

  

8,381,258

 
 

HCA Inc, 3.5000%, 9/1/30

 

36,308,000

  

38,681,454

 
 

HCA Inc, 5.5000%, 6/15/47

 

3,767,000

  

4,906,223

 
 

HCA Inc, 5.2500%, 6/15/49

 

5,651,000

  

7,203,284

 
 

HCA Inc, 3.5000%, 7/15/51

 

18,689,000

  

18,680,485

 
 

JBS Finance Luxembourg Sarl, 3.6250%, 1/15/32 (144A)

 

13,258,000

  

13,253,890

 
 

JBS USA LUX SA / JBS USA Finance Inc, 6.7500%, 2/15/28 (144A)

 

9,344,000

  

10,266,720

 
 

JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc,

      
 

6.5000%, 4/15/29 (144A)

 

26,108,000

  

29,339,126

 
 

JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc,

      
 

5.5000%, 1/15/30 (144A)

 

19,216,000

  

21,490,790

 
 

JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc,

      
 

3.7500%, 12/1/31 (144A)

 

12,464,000

  

12,753,788

 
 

Kraft Heinz Foods Co, 3.8750%, 5/15/27

 

16,720,000

  

18,371,492

 
 

Kraft Heinz Foods Co, 5.0000%, 6/4/42

 

10,468,000

  

12,782,458

 
 

Kraft Heinz Foods Co, 4.3750%, 6/1/46

 

3,013,000

  

3,414,328

 
 

Kraft Heinz Foods Co, 4.8750%, 10/1/49

 

7,044,000

  

8,551,073

 
 

Mondelez International Inc, 2.7500%, 4/13/30

 

2,574,000

  

2,711,300

 
 

Organon Finance 1 LLC, 4.1250%, 4/30/28 (144A)

 

21,472,000

  

21,897,146

 
 

Royalty Pharma PLC, 3.5500%, 9/2/50 (144A)

 

14,211,000

  

14,134,909

 
 

Sysco Corp, 6.6000%, 4/1/50

 

5,161,000

  

8,016,909

 
  

514,376,497

 

Electric – 0.5%

   
 

Dominion Energy Inc, 3.3750%, 4/1/30

 

21,239,000

  

23,127,368

 
 

Duquesne Light Holdings Inc, 2.7750%, 1/7/32 (144A)

 

16,995,000

  

17,125,804

 
 

East Ohio Gas Co/The, 2.0000%, 6/15/30 (144A)

 

2,318,000

  

2,291,597

 
 

NextEra Energy Capital Holdings Inc, 2.7500%, 5/1/25

 

9,308,000

  

9,885,696

 
 

NRG Energy Inc, 7.2500%, 5/15/26

 

15,855,000

  

16,435,372

 
 

NRG Energy Inc, 6.6250%, 1/15/27

 

18,098,000

  

18,735,412

 
 

NRG Energy Inc, 3.3750%, 2/15/29 (144A)

 

17,426,000

  

17,056,046

 
 

NRG Energy Inc, 3.6250%, 2/15/31 (144A)

 

19,673,000

  

19,332,657

 
 

Pacific Gas and Electric Co, 3.0000%, 6/15/28

 

20,004,000

  

20,093,978

 
  

144,083,930

 

Energy – 0.5%

   
 

Cheniere Corpus Christi Holdings LLC, 3.7000%, 11/15/29

 

16,964,000

  

18,529,473

 
 

Cheniere Energy Inc, 4.6250%, 10/15/28 (144A)

 

22,434,000

  

23,667,870

 
 

Cheniere Energy Partners LP, 4.0000%, 3/1/31 (144A)

 

12,892,000

  

13,472,140

 
 

Continental Resources Inc, 5.7500%, 1/15/31 (144A)

 

20,039,000

  

23,996,702

 
 

Energy Transfer Operating LP, 5.8750%, 1/15/24

 

5,422,000

  

6,008,141

 
 

Energy Transfer Operating LP, 5.5000%, 6/1/27

 

4,316,000

  

5,061,738

 
 

Energy Transfer Operating LP, 4.9500%, 6/15/28

 

626,000

  

723,267

 
 

Hess Midstream Operations LP, 5.1250%, 6/15/28 (144A)

 

23,398,000

  

24,538,652

 
 

NGPL PipeCo LLC, 3.2500%, 7/15/31 (144A)

 

7,855,000

  

8,095,594

 
 

ONEOK Inc, 6.3500%, 1/15/31

 

12,183,000

  

15,754,593

 
 

ONEOK Inc, 7.1500%, 1/15/51

 

3,182,000

  

4,677,796

 
  

144,525,966

 

Finance Companies – 0.5%

   
 

AerCap Ireland Capital DAC / AerCap Global Aviation Trust,

      
 

4.6250%, 10/15/27

 

18,600,000

  

20,830,760

 
 

Air Lease Corp, 1.8750%, 8/15/26

 

17,148,000

  

17,161,252

 
 

Air Lease Corp, 3.0000%, 2/1/30

 

8,657,000

  

8,781,012

 
 

GE Capital International Funding Co Unlimited Co, 4.4180%, 11/15/35

 

30,997,000

  

37,149,330

 
 

Quicken Loans LLC, 3.6250%, 3/1/29 (144A)

 

16,110,000

  

15,908,625

 
 

Quicken Loans LLC, 3.8750%, 3/1/31 (144A)

 

23,547,000

  

23,723,367

 
  

123,554,346

 

Financial Institutions – 0%

   
 

Jones Lang LaSalle Inc, 4.4000%, 11/15/22

 

10,528,000

  

10,949,880

 

6

        

Shares or
Principal Amounts

  

Value

 

Corporate Bonds– (continued)

   

Industrial Conglomerates – 0.1%

   
 

General Electric Co, ICE LIBOR USD 3 Month + 3.3300%, 3.4489%‡,µ

 

$19,443,000

  

$19,054,140

 

Information Technology Services – 0.1%

   
 

Booz Allen Hamilton Inc, 3.8750%, 9/1/28 (144A)

 

19,559,000

  

19,950,180

 

Insurance – 0.7%

   
 

Brown & Brown Inc, 4.5000%, 3/15/29

 

9,048,000

  

10,407,487

 
 

Brown & Brown Inc, 2.3750%, 3/15/31

 

3,481,000

  

3,478,026

 
 

Centene Corp, 5.3750%, 6/1/26 (144A)

 

24,378,000

  

25,475,010

 
 

Centene Corp, 4.2500%, 12/15/27

 

19,545,000

  

20,595,544

 
 

Centene Corp, 2.4500%, 7/15/28

 

23,290,000

  

23,604,415

 
 

Centene Corp, 3.0000%, 10/15/30

 

8,595,000

  

8,829,472

 
 

Centene Corp, 2.5000%, 3/1/31

 

5,672,000

  

5,594,010

 
 

Molina Healthcare Inc, 4.3750%, 6/15/28 (144A)

 

48,521,000

  

50,583,142

 
 

Prudential Financial Inc,

      
 

US Treasury Yield Curve Rate 5 Year + 3.0350%, 3.7000%, 10/1/50‡

 

27,945,000

  

29,132,662

 
  

177,699,768

 

Real Estate Investment Trusts (REITs) – 0.3%

   
 

Agree LP, 2.0000%, 6/15/28

 

11,528,000

  

11,433,172

 
 

Agree LP, 2.9000%, 10/1/30

 

7,437,000

  

7,759,643

 
 

Agree LP, 2.6000%, 6/15/33

 

8,647,000

  

8,615,086

 
 

MPT Operating Partnership LP / MPT Finance Corp, 3.5000%, 3/15/31

 

21,744,000

  

21,961,223

 
 

Sun Communities Inc, 2.7000%, 7/15/31

 

21,657,000

  

21,654,805

 
  

71,423,929

 

Technology – 2.0%

   
 

Analog Devices Inc, 2.9500%, 4/1/25

 

10,074,000

  

10,778,597

 
 

Broadcom Inc, 4.1500%, 11/15/30

 

19,353,000

  

21,702,745

 
 

Broadcom Inc, 4.3000%, 11/15/32

 

14,848,000

  

16,907,797

 
 

Broadcom Inc, 3.4190%, 4/15/33 (144A)

 

18,027,000

  

18,931,311

 
 

Broadcom Inc, 3.4690%, 4/15/34 (144A)

 

28,381,000

  

30,020,131

 
 

Broadridge Financial Solutions Inc, 2.6000%, 5/1/31

 

18,986,000

  

19,332,361

 
 

CoStar Group Inc, 2.8000%, 7/15/30 (144A)

 

25,145,000

  

25,543,815

 
 

Equinix Inc, 2.1500%, 7/15/30

 

9,552,000

  

9,491,023

 
 

Marvell Technology Inc, 4.2000%, 6/22/23 (144A)

 

5,055,000

  

5,374,013

 
 

Marvell Technology Inc, 1.6500%, 4/15/26 (144A)

 

13,225,000

  

13,217,369

 
 

Marvell Technology Inc, 4.8750%, 6/22/28 (144A)

 

14,717,000

  

17,012,867

 
 

Marvell Technology Inc, 2.9500%, 4/15/31 (144A)

 

20,951,000

  

21,713,008

 
 

Microchip Technology Inc, 2.6700%, 9/1/23

 

23,076,000

  

24,034,106

 
 

Microchip Technology Inc, 4.2500%, 9/1/25

 

18,079,000

  

18,980,525

 
 

MSCI Inc, 4.0000%, 11/15/29 (144A)

 

1,532,000

  

1,616,260

 
 

MSCI Inc, 3.6250%, 9/1/30 (144A)

 

25,762,000

  

26,345,767

 
 

MSCI Inc, 3.8750%, 2/15/31 (144A)

 

21,571,000

  

22,385,521

 
 

PayPal Holdings Inc, 1.6500%, 6/1/25

 

8,019,000

  

8,229,897

 
 

Qorvo Inc, 3.3750%, 4/1/31 (144A)

 

21,581,000

  

22,492,150

 
 

Seagate HDD Cayman, 4.8750%, 6/1/27

 

744,000

  

820,260

 
 

Seagate HDD Cayman, 4.0910%, 6/1/29 (144A)

 

5,925,000

  

6,066,015

 
 

Seagate HDD Cayman, 3.1250%, 7/15/29 (144A)

 

3,463,000

  

3,355,353

 
 

Seagate HDD Cayman, 4.1250%, 1/15/31 (144A)

 

6,105,000

  

6,227,100

 
 

Sensata Technologies Inc, 3.7500%, 2/15/31 (144A)

 

8,839,000

  

8,740,268

 
 

SK Hynix Inc, 1.5000%, 1/19/26 (144A)

 

17,563,000

  

17,324,494

 
 

SK Hynix Inc, 2.3750%, 1/19/31 (144A)

 

11,146,000

  

10,853,201

 
 

Skyworks Solutions Inc, 0.9000%, 6/1/23

 

3,997,000

  

4,008,885

 
 

Skyworks Solutions Inc, 1.8000%, 6/1/26

 

6,226,000

  

6,304,436

 
 

Skyworks Solutions Inc, 3.0000%, 6/1/31

 

5,587,000

  

5,710,526

 
 

Switch Ltd, 4.1250%, 6/15/29 (144A)

 

14,626,000

  

15,009,933

 
 

Total System Services Inc, 4.8000%, 4/1/26

 

11,686,000

  

13,360,722

 
 

Trimble Inc, 4.7500%, 12/1/24

 

18,923,000

  

21,022,144

 
 

Trimble Inc, 4.9000%, 6/15/28

 

11,312,000

  

13,267,040

 
 

TSMC Global Ltd, 1.2500%, 4/23/26 (144A)

 

22,961,000

  

22,761,768

 
 

TSMC Global Ltd, 1.7500%, 4/23/28 (144A)

 

23,389,000

  

23,382,451

 
 

Twilio Inc, 3.6250%, 3/15/29

 

7,799,000

  

7,954,980

 
 

Twilio Inc, 3.8750%, 3/15/31

 

7,799,000

  

8,003,724

 
  

528,282,563

 

Transportation – 0.1%

   
 

GXO Logistics inc, 1.6500%, 7/15/26 (144A)

 

14,940,000

  

14,864,702

 
 

GXO Logistics inc, 2.6500%, 7/15/31 (144A)

 

9,883,000

  

9,803,640

 
  

24,668,342

 

Total Corporate Bonds (cost $3,468,714,691)

 

3,605,924,290

 

Inflation-Indexed Bonds– 1.4%

   
 

United States Treasury Inflation Indexed Bonds, 0.6250%, 4/15/23ÇÇ

 

107,966,705

  

114,206,421

 
 

United States Treasury Inflation Indexed Bonds, 0.1250%, 4/15/26ÇÇ

 

169,177,575

  

184,024,670

 
 

United States Treasury Inflation Indexed Bonds, 0.1250%, 1/15/31ÇÇ

 

67,433,144

  

74,203,678

 

Total Inflation-Indexed Bonds (cost $372,502,471)

 

372,434,769

 

7

        

Shares or
Principal Amounts

  

Value

 

Mortgage-Backed Securities– 5.2%

   

  Fannie Mae:

   
 

1.5000%, TBA, 15 Year Maturity

 

$4,361,241

  

$4,412,224

 
 

2.0000%, TBA, 15 Year Maturity

 

33,789,159

  

34,847,435

 
 

2.5000%, TBA, 15 Year Maturity

 

28,461,400

  

29,676,702

 
 

2.0000%, TBA, 30 Year Maturity

 

107,262,960

  

108,351,679

 
 

2.5000%, TBA, 30 Year Maturity

 

229,827,034

  

237,664,136

 
 

3.5000%, TBA, 30 Year Maturity

 

73,370,400

  

77,222,346

 
  

492,174,522

 

  Fannie Mae Pool:

   
 

7.5000%, 7/1/28

 

54,827

  

62,566

 
 

3.0000%, 10/1/34

 

2,067,625

  

2,190,489

 
 

2.5000%, 11/1/34

 

1,413,376

  

1,487,549

 
 

3.0000%, 11/1/34

 

834,641

  

889,285

 
 

3.0000%, 12/1/34

 

872,842

  

929,176

 
 

6.0000%, 2/1/37

 

296,095

  

350,958

 
 

4.5000%, 11/1/42

 

1,684,524

  

1,866,897

 
 

3.0000%, 1/1/43

 

883,406

  

936,843

 
 

3.0000%, 2/1/43

 

247,185

  

262,645

 
 

3.0000%, 5/1/43

 

8,988,094

  

9,453,477

 
 

3.0000%, 5/1/43

 

1,959,900

  

2,083,799

 
 

5.0000%, 7/1/44

 

206,228

  

231,372

 
 

4.5000%, 10/1/44

 

4,315,147

  

4,839,853

 
 

4.5000%, 3/1/45

 

6,303,808

  

7,070,328

 
 

4.5000%, 6/1/45

 

3,674,539

  

4,082,294

 
 

3.5000%, 12/1/45

 

2,120,780

  

2,262,373

 
 

3.0000%, 1/1/46

 

298,125

  

314,405

 
 

4.5000%, 2/1/46

 

7,632,661

  

8,459,000

 
 

3.5000%, 7/1/46

 

4,089,949

  

4,427,196

 
 

3.0000%, 9/1/46

 

20,971,120

  

22,263,243

 
 

3.0000%, 2/1/47

 

61,100,999

  

64,865,701

 
 

3.0000%, 3/1/47

 

7,317,674

  

7,790,472

 
 

3.5000%, 3/1/47

 

1,833,299

  

1,955,699

 
 

3.5000%, 7/1/47

 

1,571,464

  

1,676,383

 
 

3.5000%, 8/1/47

 

1,479,264

  

1,563,798

 
 

3.5000%, 8/1/47

 

1,248,354

  

1,358,344

 
 

3.5000%, 12/1/47

 

607,635

  

661,173

 
 

3.5000%, 12/1/47

 

357,950

  

389,489

 
 

3.5000%, 1/1/48

 

4,149,226

  

4,454,455

 
 

4.0000%, 1/1/48

 

14,120,452

  

15,437,131

 
 

4.0000%, 1/1/48

 

5,346,893

  

5,834,439

 
 

3.0000%, 2/1/48

 

4,712,187

  

5,042,418

 
 

3.5000%, 3/1/48

 

557,739

  

606,580

 
 

4.0000%, 3/1/48

 

4,789,193

  

5,230,637

 
 

4.5000%, 3/1/48

 

186,945

  

201,244

 
 

3.0000%, 5/1/48

 

2,076,572

  

2,194,798

 
 

5.0000%, 5/1/48

 

4,862,490

  

5,312,788

 
 

3.5000%, 7/1/48

 

43,916,077

  

46,671,273

 
 

4.5000%, 8/1/48

 

109,837

  

118,116

 
 

3.0000%, 11/1/48

 

7,878,027

  

8,285,933

 
 

4.0000%, 2/1/49

 

2,497,329

  

2,662,839

 
 

3.0000%, 8/1/49

 

4,795,389

  

5,095,801

 
 

3.0000%, 8/1/49

 

2,621,596

  

2,785,828

 
 

3.0000%, 9/1/49

 

883,763

  

931,423

 
 

2.5000%, 1/1/50

 

2,411,344

  

2,503,861

 
 

2.5000%, 3/1/50

 

3,623,162

  

3,757,406

 
 

2.5000%, 10/1/50

 

3,710,674

  

3,844,962

 
 

2.5000%, 1/1/51

 

5,131,044

  

5,307,813

 
 

3.5000%, 8/1/56

 

14,370,590

  

15,600,061

 
 

3.0000%, 2/1/57

 

13,947,522

  

14,818,509

 
 

3.0000%, 6/1/57

 

269,531

  

286,363

 
  

311,709,485

 

  Freddie Mac Gold Pool:

   
 

3.5000%, 1/1/47

 

1,326,600

  

1,429,127

 

  Freddie Mac Pool:

   
 

3.0000%, 5/1/31

 

17,667,190

  

18,681,578

 
 

3.0000%, 9/1/32

 

3,946,599

  

4,180,918

 
 

3.0000%, 10/1/32

 

1,956,923

  

2,063,112

 
 

3.0000%, 12/1/32

 

1,592,625

  

1,684,957

 
 

3.0000%, 1/1/33

 

2,477,218

  

2,624,296

 
 

2.5000%, 12/1/33

 

18,506,565

  

19,381,643

 
 

3.0000%, 10/1/34

 

4,212,206

  

4,474,254

 
 

3.0000%, 10/1/34

 

1,763,737

  

1,868,463

 
 

2.5000%, 11/1/34

 

6,014,551

  

6,330,857

 
 

2.5000%, 11/1/34

 

1,234,327

  

1,299,241

 
 

6.0000%, 4/1/40

 

4,678,824

  

5,567,746

 

8

        

Shares or
Principal Amounts

  

Value

 

Mortgage-Backed Securities– (continued)

   

   Freddie Mac Pool– (continued)

   
 

2.0000%, 5/1/41

 

$81,914,673

  

$83,730,898

 
 

3.5000%, 7/1/42

 

789,979

  

850,882

 
 

3.5000%, 8/1/42

 

1,047,195

  

1,127,929

 
 

3.5000%, 8/1/42

 

843,533

  

908,566

 
 

3.5000%, 2/1/43

 

2,581,978

  

2,784,084

 
 

3.0000%, 3/1/43

 

9,598,832

  

10,192,248

 
 

3.0000%, 6/1/43

 

569,170

  

594,905

 
 

3.5000%, 2/1/44

 

2,715,082

  

2,927,607

 
 

4.5000%, 5/1/44

 

1,510,559

  

1,678,191

 
 

3.5000%, 12/1/44

 

16,163,735

  

17,355,228

 
 

3.0000%, 1/1/45

 

4,118,604

  

4,364,118

 
 

4.0000%, 4/1/45

 

36,827

  

40,566

 
 

3.0000%, 1/1/46

 

648,070

  

695,924

 
 

3.5000%, 7/1/46

 

3,680,687

  

3,965,738

 
 

3.0000%, 8/1/46

 

1,044,093

  

1,098,118

 
 

3.0000%, 10/1/46

 

8,451,799

  

8,959,419

 
 

4.0000%, 3/1/47

 

1,684,904

  

1,828,808

 
 

3.0000%, 4/1/47

 

1,587,504

  

1,669,646

 
 

3.5000%, 4/1/47

 

658,077

  

712,751

 
 

3.5000%, 9/1/47

 

5,961,318

  

6,301,930

 
 

3.5000%, 12/1/47

 

9,175,314

  

9,895,477

 
 

3.5000%, 2/1/48

 

3,615,255

  

3,868,383

 
 

4.0000%, 3/1/48

 

4,222,069

  

4,612,525

 
 

4.5000%, 3/1/48

 

172,157

  

185,160

 
 

4.0000%, 4/1/48

 

5,253,263

  

5,591,247

 
 

4.0000%, 4/1/48

 

3,532,382

  

3,840,340

 
 

4.0000%, 5/1/48

 

6,552,173

  

6,987,851

 
 

4.5000%, 7/1/48

 

1,283,860

  

1,382,264

 
 

5.0000%, 9/1/48

 

482,693

  

528,573

 
 

4.5000%, 12/1/48

 

3,300,171

  

3,593,480

 
 

3.0000%, 8/1/49

 

3,488,659

  

3,681,872

 
 

3.0000%, 8/1/49

 

1,435,824

  

1,525,885

 
 

3.0000%, 12/1/49

 

2,169,467

  

2,261,386

 
 

3.0000%, 12/1/49

 

2,068,736

  

2,156,388

 
 

2.5000%, 1/1/50

 

988,808

  

1,026,797

 
 

3.0000%, 3/1/50

 

2,829,847

  

2,954,845

 
 

3.5000%, 3/1/50

 

1,223,972

  

1,299,515

 
  

275,336,609

 

  Ginnie Mae:

   
 

2.0000%, TBA, 30 Year Maturity

 

162,715,450

  

165,689,888

 
 

2.5000%, TBA, 30 Year Maturity

 

69,778,200

  

72,174,383

 
  

237,864,271

 

  Ginnie Mae I Pool:

   
 

6.0000%, 1/15/34

 

72,839

  

84,990

 
 

4.0000%, 1/15/45

 

14,382,298

  

15,952,604

 
 

4.5000%, 8/15/46

 

17,610,397

  

19,857,420

 
 

4.0000%, 7/15/47

 

3,798,137

  

4,149,778

 
 

4.0000%, 8/15/47

 

730,195

  

797,799

 
 

4.0000%, 11/15/47

 

1,247,612

  

1,363,119

 
 

4.0000%, 12/15/47

 

1,471,349

  

1,607,570

 
  

43,813,280

 

  Ginnie Mae II Pool:

   
 

4.0000%, 8/20/47

 

1,684,500

  

1,806,790

 
 

4.0000%, 8/20/47

 

358,507

  

385,653

 
 

4.0000%, 8/20/47

 

262,028

  

281,050

 
 

4.5000%, 2/20/48

 

2,601,315

  

2,805,636

 
 

4.5000%, 5/20/48

 

4,919,299

  

5,350,342

 
 

4.5000%, 5/20/48

 

526,450

  

572,579

 
 

4.0000%, 6/20/48

 

19,135,746

  

20,324,366

 
 

5.0000%, 8/20/48

 

8,326,669

  

9,039,125

 
  

40,565,541

 

Total Mortgage-Backed Securities (cost $1,381,405,272)

 

1,402,892,835

 

United States Treasury Notes/Bonds– 8.6%

   
 

0.1250%, 2/28/23

 

436,717,000

  

436,171,104

 
 

0.1250%, 4/30/23

 

334,590,000

  

333,962,644

 
 

0.2500%, 5/15/24

 

35,742,000

  

35,546,536

 
 

0.3750%, 1/31/26

 

170,339,600

  

166,926,155

 
 

0.5000%, 2/28/26

 

292,713,000

  

288,276,569

 
 

0.7500%, 4/30/26

 

164,932,000

  

164,094,456

 
 

1.2500%, 4/30/28

 

9,610,400

  

9,640,433

 
 

0.8750%, 11/15/30

 

136,726,600

  

130,018,451

 
 

1.1250%, 2/15/31

 

44,987,200

  

43,672,730

 
 

1.6250%, 5/15/31

 

14,799,900

  

15,026,523

 

9

        

Shares or
Principal Amounts

  

Value

 

United States Treasury Notes/Bonds– (continued)

   
 

1.1250%, 5/15/40

 

$14,092,000

  

$12,165,359

 
 

1.3750%, 11/15/40

 

45,337,000

  

40,725,377

 
 

1.8750%, 2/15/41

 

82,760,000

  

81,014,281

 
 

2.2500%, 5/15/41

 

34,540,000

  

35,937,791

 
 

2.7500%, 8/15/42

 

109,881,600

  

123,818,536

 
 

1.3750%, 8/15/50

 

152,363,200

  

128,443,368

 
 

1.6250%, 11/15/50

 

234,095,000

  

210,246,572

 
 

1.8750%, 2/15/51

 

44,112,800

  

42,100,153

 

Total United States Treasury Notes/Bonds (cost $2,310,921,465)

 

2,297,787,038

 

Common Stocks– 64.7%

   

Aerospace & Defense – 1.1%

   
 

General Dynamics Corp

 

921,106

  

173,407,416

 
 

L3Harris Technologies Inc

 

537,930

  

116,273,569

 
  

289,680,985

 

Air Freight & Logistics – 1.3%

   
 

United Parcel Service Inc

 

1,624,325

  

337,810,870

 

Airlines – 0.4%

   
 

Southwest Airlines Co*

 

1,989,582

  

105,626,908

 

Auto Components – 0.4%

   
 

Aptiv PLC*

 

677,927

  

106,658,255

 

Banks – 1.5%

   
 

Bank of America Corp

 

9,491,224

  

391,323,166

 

Beverages – 0.8%

   
 

Constellation Brands Inc

 

199,064

  

46,559,079

 
 

Monster Beverage Corp*

 

1,997,814

  

182,500,309

 
  

229,059,388

 

Biotechnology – 0.9%

   
 

AbbVie Inc

 

2,083,876

  

234,727,793

 

Capital Markets – 2.8%

   
 

Charles Schwab Corp

 

650,012

  

47,327,374

 
 

CME Group Inc

 

1,103,531

  

234,698,973

 
 

Morgan Stanley

 

4,187,408

  

383,943,440

 
 

S&P Global Inc

 

185,020

  

75,941,459

 
  

741,911,246

 

Chemicals – 0.4%

   
 

Sherwin-Williams Co

 

444,732

  

121,167,233

 

Communications Equipment – 0.5%

   
 

Motorola Solutions Inc

 

590,915

  

128,139,918

 

Consumer Finance – 1.1%

   
 

American Express Co

 

1,836,698

  

303,477,611

 

Electrical Equipment – 0.4%

   
 

Rockwell Automation Inc

 

357,371

  

102,215,253

 

Electronic Equipment, Instruments & Components – 0.3%

   
 

Corning Inc

 

2,324,989

  

95,092,050

 

Entertainment – 1.7%

   
 

Activision Blizzard Inc

 

1,666,762

  

159,075,765

 
 

Netflix Inc*

 

159,389

  

84,190,864

 
 

Walt Disney Co*

 

1,261,364

  

221,709,950

 
  

464,976,579

 

Food & Staples Retailing – 1.5%

   
 

Costco Wholesale Corp

 

803,900

  

318,079,113

 
 

Sysco Corp

 

1,255,511

  

97,615,980

 
  

415,695,093

 

Food Products – 0.5%

   
 

Hershey Co

 

741,325

  

129,123,988

 

Health Care Equipment & Supplies – 2.7%

   
 

Abbott Laboratories

 

2,108,729

  

244,464,953

 
 

Edwards Lifesciences Corp*

 

1,197,551

  

124,030,357

 
 

Intuitive Surgical Inc*

 

107,354

  

98,727,033

 
 

Medtronic PLC

 

1,211,033

  

150,325,526

 
 

Stryker Corp

 

399,775

  

103,833,561

 
  

721,381,430

 

Health Care Providers & Services – 2.1%

   
 

UnitedHealth Group Inc

 

1,396,709

  

559,298,152

 

Hotels, Restaurants & Leisure – 2.6%

   
 

Hilton Worldwide Holdings Inc*

 

1,360,419

  

164,093,740

 
 

McDonald's Corp

 

1,491,380

  

344,493,866

 
 

Starbucks Corp

 

1,601,281

  

179,039,229

 
  

687,626,835

 

Household Products – 0.9%

   
 

Procter & Gamble Co

 

1,785,413

  

240,905,776

 

Industrial Conglomerates – 1.1%

   
 

Honeywell International Inc

 

1,348,302

  

295,750,044

 

10

        

Shares or
Principal Amounts

  

Value

 

Common Stocks– (continued)

   

Information Technology Services – 3.4%

   
 

Accenture PLC

 

610,668

  

$180,018,820

 
 

Fidelity National Information Services Inc

 

749,926

  

106,242,016

 
 

Mastercard Inc

 

1,713,039

  

625,413,409

 
  

911,674,245

 

Insurance – 1.1%

   
 

Progressive Corp

 

2,992,399

  

293,883,506

 

Interactive Media & Services – 3.6%

   
 

Alphabet Inc - Class C*

 

388,694

  

974,191,546

 

Internet & Direct Marketing Retail – 3.7%

   
 

Amazon.com Inc*

 

235,615

  

810,553,298

 
 

Booking Holdings Inc*

 

79,585

  

174,139,143

 
  

984,692,441

 

Leisure Products – 0.5%

   
 

Hasbro Inc

 

1,339,642

  

126,622,962

 

Life Sciences Tools & Services – 1.2%

   
 

Illumina Inc*

 

230,893

  

109,260,877

 
 

Thermo Fisher Scientific Inc

 

440,093

  

222,013,716

 
  

331,274,593

 

Machinery – 1.4%

   
 

Deere & Co

 

801,691

  

282,764,433

 
 

Parker-Hannifin Corp

 

113,411

  

34,829,652

 
 

Trane Technologies PLC

 

292,533

  

53,867,027

 
  

371,461,112

 

Media – 1.4%

   
 

Comcast Corp

 

6,633,660

  

378,251,293

 

Multiline Retail – 1.0%

   
 

Dollar General Corp

 

1,218,387

  

263,646,763

 

Personal Products – 0.3%

   
 

Estee Lauder Cos Inc

 

229,625

  

73,039,120

 

Pharmaceuticals – 2.5%

   
 

AstraZeneca PLC (ADR)

 

1,395,363

  

83,582,244

 
 

Eli Lilly & Co

 

1,580,542

  

362,766,000

 
 

Merck & Co Inc

 

2,753,342

  

214,127,407

 
  

660,475,651

 

Real Estate Management & Development – 0.3%

   
 

CBRE Group Inc*

 

1,048,462

  

89,884,647

 

Road & Rail – 0.1%

   
 

CSX Corp

 

1,011,737

  

32,456,523

 

Semiconductor & Semiconductor Equipment – 4.7%

   
 

Advanced Micro Devices Inc*

 

1,337,171

  

125,600,472

 
 

Lam Research Corp

 

719,434

  

468,135,704

 
 

NVIDIA Corp

 

518,241

  

414,644,624

 
 

Texas Instruments Inc

 

1,325,211

  

254,838,075

 
  

1,263,218,875

 

Software – 8.6%

   
 

Adobe Inc*

 

946,529

  

554,325,244

 
 

Autodesk Inc*

 

213,481

  

62,315,104

 
 

Cadence Design Systems Inc*

 

751,450

  

102,813,389

 
 

Microsoft Corp

 

5,095,587

  

1,380,394,518

 
 

salesforce.com Inc*

 

813,069

  

198,608,365

 
  

2,298,456,620

 

Specialty Retail – 1.6%

   
 

Home Depot Inc

 

1,311,959

  

418,370,606

 

Technology Hardware, Storage & Peripherals – 3.4%

   
 

Apple Inc

 

6,620,887

  

906,796,684

 

Textiles, Apparel & Luxury Goods – 0.9%

   
 

NIKE Inc

 

1,594,190

  

246,286,413

 

Total Common Stocks (cost $9,203,300,579)

 

17,326,332,173

 

Preferred Stocks– 0.2%

   

Banks – 0.2%

   
 

First Republic Bank/CA, 4.1250%µ

 

898,825

  

23,054,861

 
 

Truist Financial Corp, 4.7500%µ

 

973,675

  

25,919,228

 

Total Preferred Stocks (cost $46,812,500)

 

48,974,089

 

Investment Companies– 4.0%

   

Money Markets – 4.0%

   
 

Janus Henderson Cash Liquidity Fund LLC, 0.0636%ºº,£((cost $1,058,542,747)

 

1,058,457,448

  

1,058,563,294

 

Total Investments (total cost $19,380,622,371) – 103.4%

 

27,673,799,176

 

Liabilities, net of Cash, Receivables and Other Assets – (3.4)%

 

(902,090,010)

 

Net Assets – 100%

 

$26,771,709,166

 

11

      

Summary of Investments by Country - (Long Positions) (unaudited)

 
    

% of

 
    

Investment

 

Country

 

Value

 

Securities

 

United States

 

$27,120,447,185

 

98.0

%

United Kingdom

 

226,713,542

 

0.8

 

France

 

53,796,201

 

0.2

 

Australia

 

48,709,866

 

0.2

 

Taiwan

 

46,144,219

 

0.2

 

Canada

 

36,948,825

 

0.1

 

Luxembourg

 

33,147,832

 

0.1

 

Ireland

 

29,089,563

 

0.1

 

South Korea

 

28,177,695

 

0.1

 

Belgium

 

21,158,277

 

0.1

 

Spain

 

19,825,570

 

0.1

 

Mexico

 

9,640,401

 

0.0

 
      
      

Total

 

$27,673,799,176

 

100.0

%

 

Schedules of Affiliated Investments – (% of Net Assets)

           
 

Dividend

Income

Realized

Gain/(Loss)

Change in

Unrealized

Appreciation/

Depreciation

Value

at 6/30/21

Investment Companies - 4.0%

Money Markets - 4.0%

 
 

Janus Henderson Cash Liquidity Fund LLC, 0.0636%ºº

$

406,709

$

(15,342)

$

1

$

1,058,563,294

 
           
 

Value

at 9/30/20

Purchases

Sales Proceeds

Value

at 6/30/21

Investment Companies - 4.0%

Money Markets - 4.0%

 
 

Janus Henderson Cash Liquidity Fund LLC, 0.0636%ºº

 

589,071,414

 

4,000,630,567

 

(3,531,123,346)

 

1,058,563,294

12

Notes to Schedule of Investments (unaudited)

  

ADR

American Depositary Receipt

ICE

Intercontinental Exchange

LIBOR

London Interbank Offered Rate

LLC

Limited Liability Company

LP

Limited Partnership

PLC

Public Limited Company

SOFR

Secured Overnight Financing Rate

TBA

(To Be Announced) Securities are purchased/sold on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when specific mortgage pools are assigned.

ULC

Unlimited Liability Company

  

144A

Securities sold under Rule 144A of the Securities Act of 1933, as amended, are subject to legal and/or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Unless otherwise noted, these securities have been determined to be liquid under guidelines established by the Board of Trustees. The total value of 144A securities as of the period ended June 30, 2021 is $2,404,297,480, which represents 9.0% of net assets.

  

*

Non-income producing security.

  

ƒ

All or a portion of this position is not funded, or has been purchased on a delayed delivery or when-issued basis. If applicable, interest rates will be determined and interest will begin to accrue at a future date.

  

‡

Variable or floating rate security. Rate shown is the current rate as of June 30, 2021. Certain variable rate securities are not based on a published reference rate and spread; they are determined by the issuer or agent and current market conditions. Reference rate is as of reset date and may vary by security, which may not indicate a reference rate and/or spread in their description.

  

ÇÇ

Security is a U.S. Treasury Inflation-Protected Security (TIPS).

  

ºº

Rate shown is the 7-day yield as of June 30, 2021.

  

µ

Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer. The date indicated, if any, represents the next call date.

  

Ç

Step bond. The coupon rate will increase or decrease periodically based upon a predetermined schedule. The rate shown reflects the current rate.

  

£

The Fund may invest in certain securities that are considered affiliated companies. As defined by the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control.

13

             

The following is a summary of the inputs that were used to value the Fund’s investments in securities and other financial instruments as of June 30, 2021.

 

Valuation Inputs Summary

       
    

Level 2 -

 

Level 3 -

  

Level 1 -

 

Other Significant

 

Significant

  

Quoted Prices

 

Observable Inputs

 

Unobservable Inputs

       

Assets

      

Investments In Securities:

      

Asset-Backed/Commercial Mortgage-Backed Securities

$

-

$

1,443,947,066

$

-

Bank Loans and Mezzanine Loans

 

-

 

116,943,622

 

-

Corporate Bonds

 

-

 

3,605,924,290

 

-

Inflation-Indexed Bonds

 

-

 

372,434,769

 

-

Mortgage-Backed Securities

 

-

 

1,402,892,835

 

-

United States Treasury Notes/Bonds

 

-

 

2,297,787,038

 

-

Common Stocks

 

17,326,332,173

 

-

 

-

Preferred Stocks

 

-

 

48,974,089

 

-

Investment Companies

 

-

 

1,058,563,294

 

-

Total Assets

$

17,326,332,173

$

10,347,467,003

$

-

       

14

Investment Valuation

Securities held by the Fund are valued in accordance with policies and procedures established by and under the supervision of the Trustees (the “Valuation Procedures”). Equity securities traded on a domestic securities exchange are generally valued at the closing prices on the primary market or exchange on which they trade. If such price is lacking for the trading period immediately preceding the time of determination, such securities are valued at their current bid price. Equity securities that are traded on a foreign exchange are generally valued at the closing prices on such markets. In the event that there is no current trading volume on a particular security in such foreign exchange, the bid price from the primary exchange is generally used to value the security. Securities that are traded on the over-the-counter (“OTC”) markets are generally valued at their closing or latest bid prices as available. Foreign securities and currencies are converted to U.S. dollars using the applicable exchange rate in effect at the close of the New York Stock Exchange (“NYSE”). The Fund will determine the market value of individual securities held by it by using prices provided by one or more approved professional pricing services or, as needed, by obtaining market quotations from independent broker-dealers. Most debt securities are valued in accordance with the evaluated bid price supplied by the pricing service that is intended to reflect market value. The evaluated bid price supplied by the pricing service is an evaluation that may consider factors such as security prices, yields, maturities and ratings. Certain short-term securities maturing within 60 days or less may be evaluated and valued on an amortized cost basis provided that the amortized cost determined approximates market value. Securities for which market quotations or evaluated prices are not readily available or deemed unreliable are valued at fair value determined in good faith under the Valuation Procedures. Circumstances in which fair value pricing may be utilized include, but are not limited to: (i) a significant event that may affect the securities of a single issuer, such as a merger, bankruptcy, or significant issuer-specific development; (ii) an event that may affect an entire market, such as a natural disaster or significant governmental action; (iii) a nonsignificant event such as a market closing early or not opening, or a security trading halt; and (iv) pricing of a nonvalued security and a restricted or nonpublic security. Special valuation considerations may apply with respect to “odd-lot” fixed-income transactions which, due to their small size, may receive evaluated prices by pricing services which reflect a large block trade and not what actually could be obtained for the odd-lot position. The Fund uses systematic fair valuation models provided by independent third parties to value international equity securities in order to adjust for stale pricing, which may occur between the close of certain foreign exchanges and the close of the NYSE.

Valuation Inputs Summary

FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value, and expands disclosure requirements regarding fair value measurements. This standard emphasizes that fair value is a market-based measurement that should be determined based on the assumptions that market participants would use in pricing an asset or liability and establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. These inputs are summarized into three broad levels:

Level 1 – Unadjusted quoted prices in active markets the Fund has the ability to access for identical assets or liabilities.

Level 2 – Observable inputs other than unadjusted quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Assets or liabilities categorized as Level 2 in the hierarchy generally include: debt securities fair valued in accordance with the evaluated bid or ask prices supplied by a pricing service; securities traded on OTC markets and listed securities for which no sales are reported that are fair valued at the latest bid price (or yield equivalent thereof) obtained from one or more dealers transacting in a market for such securities or by a pricing service approved by the Fund’s Trustees; certain short-term debt securities with maturities of 60 days or less that are fair valued at amortized cost; and equity securities of foreign issuers whose fair value is determined by using systematic fair valuation models provided by independent third parties in order to adjust for stale pricing which may occur between the close of certain foreign exchanges and the close of the NYSE. Other securities that may be categorized as Level 2 in the hierarchy include, but are not limited to, preferred stocks, bank loans, swaps, investments in unregistered investment companies, options, and forward contracts.

Level 3 – Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

There have been no significant changes in valuation techniques used in valuing any such positions held by the Fund since the beginning of the fiscal year.

The inputs or methodology used for fair valuing securities are not necessarily an indication of the risk associated with investing in those securities. The summary of inputs used as of June 30, 2021 to fair value the Fund’s investments in securities and other financial instruments is included in the “Valuation Inputs Summary” in the Notes to Schedule of Investments.

15

For additional information on the Fund, please refer to the Fund’s most recent semiannual or annual shareholder report.

      
      
      
   

125-35-70213 08-21