NPORT-EX 2 AFR0DEL022826.htm
Consolidated Schedule of investments
Nomura Wealth Builder Fund February 28, 2026 (Unaudited)
    Principal
amount° 		Value (US $)
Agency Collateralized Mortgage Obligations — 0.04%
Fannie Mae REMIC
Series 2013-44 DI 3.00% 5/25/33 Σ, = 		     141,676 $      8,670
GNMA      
Series 2013-113 LY 3.00% 5/20/43       348,392      331,035
Series 2017-10 KZ 3.00% 1/20/47         1,129       1,033
Total Agency Collateralized Mortgage Obligations
(cost $372,044) 		    340,738
Agency Mortgage-Backed Securities — 7.23%
Fannie Mae
3.50% 10/1/42  		     259,753      250,097
Fannie Mae S.F. 15 yr      
2.00% 8/1/36       741,182      691,396
2.50% 8/1/36       325,319      310,710
2.50% 6/1/37       551,388      525,836
3.00% 9/1/37       636,383      617,222
Fannie Mae S.F. 30 yr      
2.00% 6/1/50     2,334,098    1,955,135
2.00% 2/1/51     1,166,234      967,465
2.00% 3/1/51     1,241,707    1,037,007
2.00% 4/1/51     7,782,728    6,497,300
2.50% 8/1/50       476,537      421,784
2.50% 1/1/51       211,535      188,145
2.50% 8/1/51       233,904      206,882
2.50% 11/1/51       287,931      254,044
2.50% 2/1/52     1,338,728    1,179,923
2.50% 3/1/52     3,798,678    3,311,973
2.50% 4/1/52     2,071,992    1,819,119
3.00% 5/1/52       885,624      809,990
3.00% 7/1/52     2,469,036    2,237,468
3.00% 8/1/52       607,040      549,562
3.50% 1/1/46        86,943       84,472
3.50% 12/1/47     1,533,923    1,462,429
3.50% 9/1/52     1,032,030      980,425
4.00% 5/1/51       345,543      339,769
5.00% 7/1/47      523,099      538,618
5.00% 8/1/53       828,540      835,589
5.50% 5/1/44      216,375      226,203
5.50% 10/1/52        70,923       72,488
5.50% 2/1/55       373,216      379,401
5.50% 9/1/55     1,545,992    1,571,616
6.00% 9/1/55     2,928,167    3,004,711
NQ- 129 [0226] 0426 (5360778)    1

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Agency Mortgage-Backed Securities (continued)
Fannie Mae S.F. 30 yr      
6.50% 3/1/55     1,817,148 $  1,886,556
Freddie Mac S.F. 15 yr
2.00% 8/1/36  		   1,687,621    1,573,598
Freddie Mac S.F. 30 yr      
2.00% 3/1/52     1,497,291    1,245,756
2.50% 11/1/50       290,554      256,697
2.50% 5/1/51        85,073       75,233
2.50% 5/1/52       786,715      685,670
3.00% 11/1/46       872,941      812,041
4.00% 9/1/49       424,167      418,762
4.00% 3/1/54     1,039,087    1,010,389
4.00% 4/1/54       950,403      924,154
4.50% 10/1/52     1,895,407    1,882,508
5.00% 9/1/52       944,424      962,340
5.00% 11/1/52       122,205      123,665
5.50% 9/1/52       244,739      253,895
5.50% 3/1/53       266,734      274,584
5.50% 6/1/53       668,485      681,656
GNMA I S.F. 30 yr
3.00% 8/15/45  		     580,233      537,658
GNMA II S.F. 30 yr      
2.00% 10/20/50     1,790,622    1,518,860
2.50% 7/20/51     3,233,943    2,855,848
3.00% 4/20/52     1,459,529    1,339,681
3.50% 9/20/55     1,564,375    1,468,852
4.00% 4/20/55     1,021,325      983,240
4.50% 8/20/55     1,221,845    1,208,507
5.00% 12/20/54     1,628,247    1,635,836
5.50% 2/20/55       769,486      780,033
6.00% 3/20/55     1,044,698    1,066,645
6.50% 4/20/55       490,160     509,848
Total Agency Mortgage-Backed Securities
(cost $59,109,138) 		 60,299,291
2    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Collateralized Loan Obligations — 0.99%
AGL CLO 17
Series 2022-17A AR 144A 4.62% (TSFR03M + 0.95%, Floor 0.95%) 1/21/35 #, • 		     450,000 $    450,084
AIMCO CLO 15
Series 2021-15A D1R 144A 6.418% (TSFR03M + 2.75%, Floor 2.75%) 4/17/38 #, • 		     290,000      287,570
AIMCO CLO 17
Series 2022-17A CR 144A 5.569% (TSFR03M + 1.90%, Floor 1.90%) 7/20/37 #, • 		     450,000      451,057
Bain Capital Credit CLO
Series 2021-7A A1R 144A 4.649% (TSFR03M + 0.98%, Floor 0.98%) 1/22/35 #, • 		     600,000      598,428
Ballyrock CLO 18
Series 2021-18A C1R 144A 6.522% (TSFR03M + 2.85%, Floor 2.85%) 4/15/38 #, • 		     300,000      294,368
Ballyrock CLO 27      
Series 2024-27A A1A 144A 5.018% (TSFR03M + 1.35%, Floor 1.35%) 10/25/37 #, •      500,000      500,940
Series 2024-27A B 144A 5.568% (TSFR03M + 1.90%, Floor 1.90%) 10/25/37 #, •      450,000      450,257
Canyon Capital CLO
Series 2019-2A AR2 144A 4.682% (TSFR03M + 1.01%, Floor 1.01%) 10/15/34 #, • 		     250,000      249,929
Canyon CLO
Series 2020-2A AR2 144A 4.702% (TSFR03M + 1.03%, Floor 1.03%) 10/15/34 #, • 		     350,000      349,450
CIFC Funding
Series 2025-1A D1 144A 6.171% (TSFR03M + 2.50%, Floor 2.50%) 4/23/38 #, • 		     150,000      147,275
Dryden 109 CLO
Series 2022-109A DR 144A 6.372% (TSFR03M + 2.70%, Floor 2.70%) 4/15/38 #, • 		     150,000      146,578
Elmwood CLO 22
Series 2023-1A D1R 144A 6.468% (TSFR03M + 2.80%, Floor 2.80%) 4/17/38 #, • 		     290,000      287,568
Madison Park Funding XXVII
Series 2018-27A D1R 144A 6.518% (TSFR03M + 2.85%, Floor 2.85%) 4/20/38 #, • 		     150,000      143,108
Magnetite XlV
Series 2025-45A D1 144A 6.172% (TSFR03M + 2.50%, Floor 2.50%) 4/15/38 #, • 		     290,000      287,570
Neuberger Berman Loan Advisers CLO 42 
Series 2021-42A AR 144A 4.621% (TSFR03M + 0.95%, Floor 0.95%) 7/16/36 #, • 		   1,200,000    1,200,322
NQ- 129 [0226] 0426 (5360778)    3

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Collateralized Loan Obligations (continued)
Oaktree CLO
Series 2020-1A D1RR 144A 6.272% (TSFR03M + 2.60%, Floor 2.60%) 1/15/38 #, • 		     150,000 $    145,501
Octagon Investment Partners 51
Series 2021-1A AR 144A 4.658% (TSFR03M + 0.99%, Floor 0.99%) 7/20/34 #, • 		   1,150,000    1,147,648
OHA Credit Funding
Series 2022-11A CR 144A 5.568% (TSFR03M + 1.90%, Floor 1.90%) 7/19/37 #, • 		     350,000      350,602
OHA Credit Partners VII
Series 2012-7A D1R4 144A 6.156% (TSFR03M + 2.50%, Floor 2.50%) 2/20/38 #, • 		     200,000      195,118
TCW CLO
Series 2019-2A D1R2 144A 6.668% (TSFR03M + 3.00%, Floor 3.00%) 1/20/38 #, • 		     200,000      191,651
Wellington Management CLO 4
Series 2025-4A D1 144A 6.218% (TSFR03M + 2.55%, Floor 2.55%) 4/18/38 #, • 		     400,000     394,542
Total Collateralized Loan Obligations
(cost $8,320,000) 		  8,269,566
Corporate Bonds — 13.48%
Automotive — 0.19%
Allison Transmission 144A 3.75% 1/30/31 #      255,000      242,718
American Axle & Manufacturing 144A 6.375% 10/15/32 #      147,000      149,702
Clarios Global 144A 6.75% 9/15/32 #      147,000      152,674
Dana 4.50% 2/15/32        73,000       69,568
Garrett Motion Holdings 144A 7.75% 5/31/32 #      314,000      332,076
Goodyear Tire & Rubber 5.25% 7/15/31       337,000      321,749
Phinia 144A 6.625% 10/15/32 #      109,000      113,259
ZF North America Capital 144A 6.75% 4/23/30 #      175,000     176,896
    1,558,642
Banking — 3.31%
Banco Santander      
4.551% 11/6/30       200,000      201,643
8.00% 2/1/34 μ, ψ      255,000      282,264
4    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Banking (continued)
Bank of America      
1.734% 7/22/27 μ      530,000 $    525,284
1.922% 10/24/31 μ      560,000      505,408
2.884% 10/22/30 μ       20,000       19,194
2.972% 2/4/33 μ      240,000      221,923
3.194% 7/23/30 μ       55,000       53,501
4.456% 2/6/32 μ      325,000      327,504
5.518% 10/25/35 μ    1,937,000    1,988,466
6.204% 11/10/28 μ      280,000      290,020
6.25% 7/26/30 μ, ψ      635,000      653,766
6.625% 5/1/30 μ, ψ      185,000      193,797
Bank of Montreal      
4.439% 1/14/32 μ      230,000      231,537
7.70% 5/26/84 μ      200,000      211,949
Bank of New York Mellon 4.942% 2/11/31 μ      285,000      294,104
Banque Federative du Credit Mutuel 144A 4.541% 1/15/31 #      290,000      291,718
Barclays 7.625% 3/15/35 μ, ψ      200,000      212,442
BPCE 144A 6.347% 1/13/47 #, μ      250,000      250,752
Citibank 5.488% 12/4/26       280,000      283,064
Citigroup      
4.503% 9/11/31 μ      370,000      372,900
5.174% 9/11/36 μ      270,000      274,816
5.612% 3/4/56 μ      225,000      226,226
6.02% 1/24/36 μ      235,000      246,705
6.625% 2/15/31 μ, ψ      160,000      165,508
6.75% 2/15/30 μ, ψ    1,003,000    1,026,806
Deutsche Bank      
2.552% 1/7/28 μ      335,000      330,845
4.95% 8/4/31 μ      890,000      906,619
5.297% 5/9/31 μ      235,000      242,732
Goldman Sachs Group      
1.542% 9/10/27 μ    1,615,000    1,593,949
4.369% 10/21/31 μ      375,000      375,320
5.016% 10/23/35 μ    1,705,000    1,723,274
5.049% 7/23/30 μ    1,105,000    1,133,780
5.065% 1/21/37 μ      555,000      559,119
5.218% 4/23/31 μ      365,000      377,921
5.387% 2/2/41 μ      485,000      481,526
6.484% 10/24/29 μ      290,000      307,035
NQ- 129 [0226] 0426 (5360778)    5

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Banking (continued)
Huntington Bancshares      
4.623% 1/28/32 μ      315,000 $    318,059
5.605% 1/28/41 μ      210,000      211,096
JPMorgan Chase & Co.      
1.47% 9/22/27 μ      770,000      759,231
3.109% 4/22/51 μ       30,000       20,639
4.898% 1/22/37 μ       40,000       40,255
5.103% 4/22/31 μ      310,000      321,551
5.14% 1/24/31 μ      856,000      888,417
5.193% 2/5/37 μ      530,000      535,605
5.572% 4/22/36 μ      154,000      162,907
6.254% 10/23/34 μ      355,000      390,503
Morgan Stanley      
4.133% 10/18/29 μ      140,000      140,234
4.493% 1/16/32 μ      300,000      301,805
5.123% 2/1/29 μ       15,000       15,315
5.192% 4/17/31 μ        5,000        5,181
5.664% 4/17/36 μ      680,000      718,878
6.296% 10/18/28 μ      249,000      257,994
NatWest Group 5.908% 3/3/47 μ      590,000      586,329
NatWest Markets 144A 5.022% 3/21/30 #      735,000      760,840
Nordea Bank 144A 6.75% 11/10/33 #, μ, ψ      400,000      413,386
PNC Financial Services Group      
2.60% 7/23/26       355,000      353,283
4.899% 5/13/31 μ      155,000      159,246
5.423% 1/25/41 μ      155,000      156,758
5.575% 1/29/36 μ      190,000      200,040
Popular 7.25% 3/13/28       240,000      250,681
Royal Bank of Canada 6.50% 11/24/85 μ      200,000      199,924
Truist Financial      
1.887% 6/7/29 μ       75,000       71,700
6.123% 10/28/33 μ       10,000       10,856
UBS Group      
144A 4.844% 11/6/33 #, μ      330,000      332,861
144A 5.01% 3/23/37 #, μ      330,000      329,064
144A 7.00% 2/10/30 #, μ, ψ      200,000      204,483
US Bancorp      
2.491% 11/3/36 μ       65,000       57,577
3.00% 7/30/29       150,000      145,722
3.10% 4/27/26       210,000      209,739
US Bank 4.73% 5/15/28 μ      275,000      277,776
6    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Banking (continued)
Wells Fargo & Co.      
4.96% 1/23/37 μ      210,000 $    210,880
5.244% 1/24/31 μ      215,000     223,095
   27,625,327
Basic Industry — 0.47%
Alumina Pty 144A 6.125% 3/15/30 #      200,000      207,444
AmeriTex HoldCo Intermediate 144A 7.625% 8/15/33 #      104,000      108,966
Arsenal AIC Parent 144A 8.00% 10/1/30 #      202,000      213,621
Capstone Copper 144A 6.75% 3/31/33 #      274,000      283,359
Carpenter Technology 144A 5.625% 3/1/34 #      193,000      197,039
Celanese US Holdings      
6.50% 4/15/30        16,000       16,406
6.75% 4/15/33       137,000      140,558
7.375% 2/15/34       192,000      197,371
Chemours 144A 7.875% 3/15/34 #       95,000       95,000
Cleveland-Cliffs 144A 7.00% 3/15/32 #      348,000      353,873
Commercial Metals 144A 6.00% 12/15/35 #      316,000      323,847
Fortescue Treasury 144A 5.875% 4/15/30 #      355,000      365,937
K Hovnanian Enterprises 144A 8.00% 4/1/31 #      157,000      161,594
Novelis 144A 4.75% 1/30/30 #      514,000      498,454
Olin 144A 6.625% 4/1/33 #      159,000      155,458
Olympus Water US Holding 144A 7.25% 2/15/33 #      200,000      199,267
Standard Building Solutions 144A 6.50% 8/15/32 #      226,000      232,964
Standard Industries 144A 3.375% 1/15/31 #      220,000     203,263
    3,954,421
Brokerage — 0.57%
Apollo Global Management 4.60% 1/15/31       180,000      181,289
Blackstone Reg Finance 5.00% 12/6/34     1,630,000    1,636,175
Brookfield Asset Management 4.653% 11/15/30       360,000      364,009
Brookfield Finance 5.33% 1/15/36       620,000      619,137
Jefferies Financial Group      
2.625% 10/15/31       355,000      315,714
4.15% 1/23/30       170,000      167,269
5.50% 2/15/36       180,000      177,103
6.20% 4/14/34       355,000      371,414
6.45% 6/8/27        90,000       92,319
6.50% 1/20/43        70,000       71,580
KKR & Co. 5.10% 8/7/35       555,000      549,610
NQ- 129 [0226] 0426 (5360778)    7

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Brokerage (continued)
TPG Operating Group II 4.875% 5/15/31       205,000 $    205,958
    4,751,577
Capital Goods — 0.67%
Amentum Holdings 144A 7.25% 8/1/32 #      287,000      300,912
Amphenol 4.125% 11/15/30       145,000      145,788
Amsted Industries 144A 6.375% 3/15/33 #      153,000      159,533
Ardagh Metal Packaging Finance USA 144A 6.25% 1/30/31 #      200,000      204,803
Boeing      
6.259% 5/1/27       270,000      276,654
6.388% 5/1/31        90,000       98,398
6.858% 5/1/54       685,000      786,099
Bombardier 144A 8.75% 11/15/30 #      180,000      193,067
CACI International 144A 6.375% 6/15/33 #      281,000      289,509
Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 #      244,000      243,131
Enpro 144A 6.125% 6/1/33 #      238,000      246,222
Esab 144A 6.25% 4/15/29 #      232,000      238,103
Goat Holdco 144A 6.75% 2/1/32 #      104,000      107,552
Lsf12 Helix Parent 144A 7.125% 2/1/33 #      132,000      132,843
Manitowoc 144A 9.25% 10/1/31 #      116,000      126,239
Mauser Packaging Solutions Holding      
144A 7.875% 4/15/30 #      397,000      406,637
144A 9.25% 4/15/30 #      305,000      300,812
RTX 4.625% 11/16/48       145,000      129,246
Sealed Air      
144A 5.00% 4/15/29 #      318,000      320,763
144A 6.50% 7/15/32 #       80,000       82,460
Terex 144A 6.25% 10/15/32 #      215,000      221,577
TransDigm      
144A 6.125% 7/31/34 #       92,000       93,563
144A 6.625% 3/1/32 #      293,000      303,912
Trivium Packaging Finance 144A 12.25% 1/15/31 #      200,000     220,378
    5,628,201
8    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Communications — 0.87%
AT&T      
1.70% 3/25/26       215,000 $    214,687
3.50% 9/15/53       235,000      160,469
4.35% 3/1/29       280,000      283,190
5.55% 11/1/45       190,000      187,214
5.70% 11/1/54       260,000      252,447
6.00% 4/30/56       190,000      191,795
6.30% 1/15/38       375,000      412,379
CCO Holdings 144A 6.375% 9/1/29 #      280,000      283,907
Orange      
144A 4.25% 1/13/31 #      285,000      285,526
144A 4.75% 1/13/33 #      235,000      237,808
144A 5.00% 1/13/36 #      275,000      276,314
Rogers Communications 5.30% 2/15/34       925,000      945,599
SoftBank      
144A 4.699% 7/9/30 #      440,000      446,754
144A 5.332% 7/9/35 #      525,000      535,078
Time Warner Cable 6.55% 5/1/37     1,005,000    1,035,879
T-Mobile USA      
3.75% 4/15/27       130,000      129,835
5.125% 5/15/32       105,000      109,100
5.875% 11/15/55       110,000      111,188
Verizon Communications      
4.75% 1/15/33       575,000      583,306
5.00% 1/15/36       335,000      336,615
5.875% 11/30/55       265,000     266,960
    7,286,050
Consumer Cyclical — 0.50%
Amazon.com      
4.10% 11/20/30       235,000      236,776
5.55% 11/20/65       205,000      200,895
Ford Motor Credit 6.532% 3/19/32       225,000      239,641
General Motors Financial 2.35% 2/26/27       425,000      418,414
Gildan Activewear 144A 4.70% 10/7/30 #      395,000      397,641
GLP Capital 5.625% 3/1/36       370,000      370,352
Lowe's 4.25% 3/15/31       240,000      240,870
Marriott International      
4.50% 5/1/33       110,000      109,671
5.10% 5/1/38       150,000      148,427
Royal Caribbean Cruises 4.75% 5/15/33       310,000      312,237
NQ- 129 [0226] 0426 (5360778)    9

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Consumer Cyclical (continued)
VICI Properties      
4.95% 2/15/30     1,325,000 $  1,347,813
5.625% 4/1/35       130,000     133,838
    4,156,575
Consumer Goods — 0.05%
Cerdia Finanz 144A 9.375% 10/3/31 #      200,000      205,000
Fiesta Purchaser      
144A 7.875% 3/1/31 #      107,000      110,298
144A 9.625% 9/15/32 #       97,000      98,861
      414,159
Consumer Non-Cyclical — 0.88%
Abbott Laboratories      
4.30% 3/15/33       260,000      259,819
4.65% 3/15/36       530,000      530,371
AbbVie      
4.125% 3/15/31       365,000      366,280
4.75% 3/15/36       250,000      251,407
Amgen 4.85% 2/19/36       265,000      266,536
Bunge Limited Finance      
2.75% 5/14/31       565,000      525,898
4.20% 9/17/29       290,000      291,955
Cargill 144A 4.125% 10/23/30 #      205,000      205,807
CVS Health      
5.00% 9/15/32       150,000      153,939
5.05% 3/25/48       235,000      209,710
5.45% 9/15/35       260,000      268,666
HCA      
5.45% 9/15/34       405,000      420,656
6.00% 4/1/54       775,000      776,159
JBS USA Holding Lux 6.25% 3/1/56       415,000      424,282
Merck & Co.      
3.85% 3/15/29       160,000      160,675
4.15% 3/15/31       430,000      433,024
4.45% 12/4/32       230,000      233,169
4.75% 12/4/35       205,000      206,945
5.50% 3/15/46       230,000      232,855
5.55% 12/4/55       320,000      321,149
5.70% 12/4/65       215,000      216,071
10    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Consumer Non-Cyclical (continued)
Pfizer      
4.20% 11/15/30       145,000 $    146,521
4.875% 11/15/35       225,000      229,356
Sysco 5.10% 9/23/30       175,000     181,717
    7,312,967
Electric — 0.75%
AEP Transmission 5.40% 3/15/53         5,000        4,880
American Electric Power 6.05% 3/15/56 μ      215,000      215,842
Black Hills 4.55% 1/31/31       190,000      191,953
California Buyer 144A 6.375% 2/15/32 #      150,000      149,656
Calpine 144A 5.125% 3/15/28 #       90,000       90,023
Constellation Energy Generation      
3.90% 1/8/28       140,000      140,110
144A 4.625% 2/1/29 #       95,000       95,019
5.75% 3/15/54       266,000      267,635
5.875% 1/15/66       185,000      184,804
Dominion Energy      
6.20% 2/15/56 μ      165,000      168,045
Series A 6.875% 2/1/55 μ      515,000      539,643
Series B 7.00% 6/1/54 μ      590,000      642,298
Duke Energy Florida 4.20% 12/1/30       210,000      211,667
Hawaiian Electric 144A 6.00% 10/1/33 #      126,000      128,487
Lightning Power 144A 7.25% 8/15/32 #      270,000      286,824
NextEra Energy Capital Holdings 5.65% 5/1/79 μ       55,000       55,915
NRG Energy      
144A 4.734% 10/15/30 #      310,000      313,092
144A 5.407% 10/15/35 #      245,000      247,754
144A 6.00% 1/15/36 #      217,000      220,967
Southwestern Electric Power 4.10% 9/15/28       165,000      165,291
Union Electric      
4.80% 3/15/36       115,000      115,301
5.55% 3/15/56       165,000      164,229
Vistra      
144A 7.00% 12/15/26 #, μ, ψ      698,000      706,793
144A 8.00% 10/15/26 #, μ, ψ      245,000      249,739
Vistra Operations      
144A 4.30% 7/15/29 #      215,000      215,225
144A 4.70% 1/31/31 #      175,000      176,084
144A 5.35% 1/31/36 #      295,000     297,188
    6,244,464
NQ- 129 [0226] 0426 (5360778)    11

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Energy — 0.95%
Archrock Partners 144A 6.625% 9/1/32 #      220,000 $    229,099
Bristow Group 144A 6.75% 2/1/33 #       92,000       93,406
Crescent Energy Finance 144A 8.375% 1/15/34 #       96,000       99,295
Diamondback Energy 5.75% 4/18/54       145,000      141,615
Enbridge      
4.90% 6/20/30       155,000      159,708
5.55% 6/20/35       245,000      257,022
5.75% 7/15/80 μ      130,000      132,410
6.70% 11/15/53       420,000      472,625
7.20% 6/27/54 μ      420,000      452,784
Energy Transfer      
5.25% 4/15/29       170,000      175,617
6.25% 4/15/49       190,000      192,288
6.30% 1/15/56       150,000      151,895
6.50% 2/15/56 μ      435,000      439,814
6.75% 2/15/56 μ      445,000      455,062
Genesis Energy      
6.75% 3/15/34        96,000       97,161
7.75% 2/1/28        90,000       90,190
7.875% 5/15/32        45,000       47,135
Gulfport Energy Operating 144A 6.75% 9/1/29 #      226,000      234,320
Hilcorp Energy I      
144A 6.00% 4/15/30 #      367,000      362,607
144A 6.00% 2/1/31 #       49,000       47,762
144A 6.25% 4/15/32 #       83,000       80,819
Kinder Morgan 5.95% 8/1/54       300,000      306,700
Matador Resources 144A 6.25% 4/15/33 #      159,000      161,934
Murphy Oil 6.00% 10/1/32        87,000       87,202
Nabors Industries      
144A 7.625% 11/15/32 #      110,000      113,392
144A 8.875% 8/15/31 #       34,000       35,242
NGL Energy Operating 144A 8.375% 2/15/32 #      220,000      230,907
Noble Finance II 144A 8.00% 4/15/30 #      165,000      171,827
NuStar Logistics 6.00% 6/1/26       143,000      143,172
ONEOK 5.70% 11/1/54        90,000       84,873
Permian Resources Operating 144A 7.00% 1/15/32 #      141,000      148,063
Rockies Express Pipeline 144A 6.75% 3/15/33 #      162,000      171,347
SM Energy      
144A 6.75% 8/1/29 #       80,000       81,850
144A 8.625% 11/1/30 #      245,000      259,457
12    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Energy (continued)
Sunoco 144A 7.25% 5/1/32 #      129,000 $    136,362
Transocean International      
144A 7.875% 10/15/32 #      193,000      207,325
144A 8.50% 5/15/31 #       53,000       56,080
USA Compression Partners      
144A 6.25% 10/1/33 #      203,000      206,558
144A 7.125% 3/15/29 #      338,000      349,425
Venture Global LNG      
144A 7.00% 1/15/30 #      104,000      105,558
144A 8.375% 6/1/31 #      202,000      206,993
Venture Global Plaquemines LNG      
144A 6.125% 12/15/30 #       89,000       92,497
144A 7.50% 5/1/33 #      119,000     132,067
    7,901,465
Financials — 0.95%
AerCap Ireland Capital DAC 4.75% 1/15/33       210,000      210,472
Air Lease 4.65% 6/15/26 μ, ψ      165,000      164,914
Apollo Debt Solutions 6.70% 7/29/31     1,260,000    1,301,547
Ares Capital 5.10% 1/15/31       440,000      429,595
Aviation Capital Group      
144A 4.80% 10/24/30 #      730,000      737,886
144A 4.875% 1/28/33 #      240,000      239,251
Avolon Holdings Funding      
144A 4.85% 4/1/33 #      250,000      247,873
144A 4.95% 1/15/28 #      150,000      152,038
Azorra Finance 144A 7.75% 4/15/30 #      226,000      237,541
Blackstone Private Credit Fund      
5.05% 9/10/30       190,000      183,736
5.35% 3/12/31       165,000      159,939
5.60% 11/22/29       755,000      750,304
Blue Owl Credit Income 6.60% 9/15/29       689,000      695,768
CrossCountry Intermediate HoldCo 144A 6.50% 10/1/30 #      210,000      209,429
Focus Financial Partners 144A 6.75% 9/15/31 #      218,000      217,024
FTAI Aviation Investors 144A 7.00% 6/15/32 #      226,000      237,437
Jefferies Finance 144A 6.625% 10/15/31 #      200,000      194,902
OneMain Finance      
6.625% 5/15/29       150,000      153,319
6.75% 9/15/33        92,000       91,426
7.125% 9/15/32        52,000       53,243
NQ- 129 [0226] 0426 (5360778)    13

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Financials (continued)
PennyMac Financial Services      
144A 6.875% 5/15/32 #      104,000 $    104,734
144A 6.875% 2/15/33 #      153,000      153,296
Shift4 Payments 144A 6.75% 8/15/32 #      325,000      318,379
SMBC Aviation Capital Finance DAC 144A 5.25% 11/26/35 #      370,000      376,605
UBS Group 144A 6.85% 9/10/29 #, μ, ψ      200,000      204,165
UWM Holdings 144A 6.25% 3/15/31 #      142,000     137,295
    7,962,118
Healthcare — 0.38%
Acadia Healthcare 144A 7.375% 3/15/33 #      310,000      320,415
AMN Healthcare 144A 6.50% 1/15/31 #      147,000      147,707
AthenaHealth Group 144A 6.50% 2/15/30 #       67,000       63,061
CHS      
144A 4.75% 2/15/31 #      300,000      275,486
144A 9.75% 1/15/34 #      159,000      167,756
DaVita      
144A 3.75% 2/15/31 #      171,000      159,903
144A 4.625% 6/1/30 #      141,000      138,121
GENMAB 144A 6.25% 12/15/32 #      200,000      207,699
Global Medical Response 144A 7.375% 10/1/32 #      179,000      187,508
Grifols 144A 4.75% 10/15/28 #      200,000      197,635
Medline Borrower 144A 5.25% 10/1/29 #      128,000      128,073
Molina Healthcare 144A 6.50% 2/15/31 #      135,000      135,600
Opal Bidco 144A 6.50% 3/31/32 #      200,000      206,129
Raven Acquisition Holdings 144A 6.875% 11/15/31 #      171,000      164,772
Surgery Center Holdings 144A 7.25% 4/15/32 #      232,000      232,008
Tenet Healthcare 144A 5.50% 11/15/32 #      436,000     441,704
    3,173,577
Insurance — 0.76%
Acrisure 144A 6.75% 7/1/32 #      208,000      204,163
Amynta Agency Borrower and Amynta Warranty Borrower 144A 7.50% 7/15/33 #      161,000      157,895
Ardonagh Finco 144A 7.75% 2/15/31 #      320,000      327,866
Athene Holding      
6.625% 5/19/55       255,000      249,890
6.875% 6/28/55 μ      230,000      221,621
Beacon Funding Trust 144A 6.266% 8/15/54 #      430,000      438,161
Henneman Trust 144A 6.58% 5/15/55 #      415,000      430,541
14    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Insurance (continued)
Howden UK Refinance      
144A 7.25% 2/15/31 #      200,000 $    202,865
144A 8.125% 2/15/32 #      200,000      191,658
HUB International 144A 7.375% 1/31/32 #      147,000      149,712
Jones Deslauriers Insurance Management      
144A 6.875% 10/1/33 #      165,000      151,688
144A 8.50% 3/15/30 #       79,000       82,026
Metropolitan Life Global Funding I 144A 4.90% 1/9/30 #    1,325,000    1,363,615
New York Life Global Funding 144A 5.45% 9/18/26 #      575,000      580,018
Pine Street Trust III 144A 6.223% 5/15/54 #    1,140,000    1,162,092
Prudential Financial 5.20% 3/14/35       390,000     399,770
    6,313,581
Leisure — 0.23%
Boyd Gaming 144A 4.75% 6/15/31 #      306,000      299,561
Caesars Entertainment      
144A 6.00% 10/15/32 #      220,000      215,241
144A 6.50% 2/15/32 #      165,000      167,790
144A 7.00% 2/15/30 #      586,000      601,092
Carnival 144A 6.125% 2/15/33 #      131,000      135,698
Life Time 144A 6.00% 11/15/31 #      220,000      226,850
Lindblad Expeditions 144A 7.00% 9/15/30 #      101,000      106,000
Six Flags Entertainment      
144A 6.625% 5/1/32 #      147,000      149,541
144A 8.625% 1/15/32 #       39,000      39,515
    1,941,288
Media — 0.38%
CCO Holdings      
144A 4.50% 8/15/30 #      335,000      319,745
4.50% 5/1/32       110,000      100,743
144A 5.375% 6/1/29 #       82,000       81,860
144A 7.00% 2/1/33 #      146,000      149,387
Cimpress 144A 7.375% 9/15/32 #      150,000      151,092
Clear Channel Outdoor Holdings 144A 7.50% 3/15/33 #      116,000      125,289
CMG Media 144A 8.875% 6/18/29 #      200,000      175,045
CSC Holdings      
144A 4.50% 11/15/31 #      200,000      120,204
144A 5.00% 11/15/31 #      200,000       74,907
NQ- 129 [0226] 0426 (5360778)    15

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Media (continued)
Gray Media      
144A 5.375% 11/15/31 #      257,000 $    202,572
144A 7.25% 8/15/33 #       88,000       90,932
McGraw-Hill Education      
144A 7.375% 9/1/31 #      263,000      268,962
144A 8.00% 8/1/29 #      130,000      129,174
Midcontinent Communications 144A 8.00% 8/15/32 #      215,000      202,677
Sirius XM Radio 144A 4.00% 7/15/28 #      293,000      286,225
Snap 144A 6.875% 3/1/33 #      220,000      219,261
Stagwell Global 144A 5.625% 8/15/29 #      232,000      214,068
Univision Communications 144A 7.375% 6/30/30 #      226,000      226,191
Versant Media Group 144A 7.25% 1/30/31 #       39,000      39,937
    3,178,271
Real Estate — 0.22%
Forestar Group 144A 6.50% 3/15/33 #      110,000      112,705
Iron Mountain      
144A 4.50% 2/15/31 #      392,000      378,384
144A 5.25% 3/15/28 #      465,000      465,572
Millrose Properties 144A 6.375% 8/1/30 #      159,000      163,213
RHP Hotel Properties 144A 6.50% 6/15/33 #      215,000      223,467
Simon Property Group 2.65% 2/1/32       420,000      383,457
Starwood Property Trust 144A 6.50% 7/1/30 #       69,000      71,802
    1,798,600
Retail — 0.27%
Asbury Automotive Group      
144A 4.625% 11/15/29 #       80,000       78,799
4.75% 3/1/30       208,000      204,838
Bath & Body Works      
6.875% 11/1/35       532,000      542,541
6.95% 3/1/33       136,000      136,071
Magnera 144A 7.25% 11/15/31 #      297,000      291,010
Michaels      
144A 8.50% 3/15/33 #      127,000      123,647
144A 11.00% 3/15/34 #       57,000       53,327
Murphy Oil USA 144A 3.75% 2/15/31 #      483,000      454,791
Victra Holdings 144A 8.75% 9/15/29 #      171,000      179,843
William Carter 144A 7.375% 2/15/31 #      141,000     145,397
    2,210,264
16    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Services — 0.17%
Herc Holdings      
144A 6.00% 3/15/34 #       96,000 $     96,603
144A 7.00% 6/15/30 #       67,000       70,252
144A 7.25% 6/15/33 #       49,000       51,828
Prime Security Services Borrower 144A 5.75% 4/15/26 #       29,000       29,082
QXO Building Products 144A 6.75% 4/30/32 #       53,000       54,940
Resideo Funding 144A 6.50% 7/15/32 #      192,000      196,257
Staples 144A 10.75% 9/1/29 #      180,000      165,314
Synergy Infrastructure Holdings 144A 7.875% 12/1/30 #       77,000       80,402
WESCO Distribution 144A 5.25% 4/15/31 #      115,000      115,084
White Cap Supply Holdings 144A 7.375% 11/15/30 #      359,000      364,822
Williams Scotsman 144A 6.625% 4/15/30 #      215,000     223,337
    1,447,921
Technology — 0.45%
Alphabet      
4.40% 2/15/33        90,000       90,820
4.80% 2/15/36       270,000      274,541
Broadcom      
4.20% 10/15/30        80,000       80,473
5.70% 1/15/56       195,000      200,384
CDW 3.276% 12/1/28       390,000      380,859
Foundry JV Holdco      
144A 6.10% 1/25/36 #       95,000      101,536
144A 6.15% 1/25/32 #      275,000      295,198
Leidos      
5.00% 3/15/36       545,000      543,935
5.40% 3/15/32       490,000      511,366
Oracle      
4.70% 9/27/34       125,000      117,536
5.70% 2/4/36       410,000      410,384
5.875% 9/26/45       685,000      621,023
6.70% 2/4/56       170,000     164,963
    3,793,018
Technology & Electronics — 0.12%
Black Pearl Compute 144A 6.125% 2/15/31 #       92,000       94,273
Capstone Borrower 144A 8.00% 6/15/30 #      129,000      112,312
Cipher Compute 144A 7.125% 11/15/30 #       61,000       63,659
Cloud Software Group 144A 6.50% 3/31/29 #      277,000      271,888
NQ- 129 [0226] 0426 (5360778)    17

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Corporate Bonds (continued)
Technology & Electronics (continued)
ION Platform Finance US 144A 7.875% 9/30/32 #      200,000 $    160,614
Seagate Data Storage Technology 144A 5.75% 12/1/34 #      153,000      156,905
WULF Compute 144A 7.75% 10/15/30 #       79,000       83,722
Zebra Technologies 144A 6.50% 6/1/32 #       61,000      62,571
    1,005,944
Telecommunications — 0.22%
Connect Finco 144A 9.00% 9/15/29 #      275,000      292,166
Iliad Holding 144A 8.50% 4/15/31 #      435,000      466,289
Rogers Communications 7.125% 4/15/55 μ      184,000      194,968
Sable International Finance 144A 7.125% 10/15/32 #      200,000      202,675
Uniti Services 144A 7.50% 10/15/33 #      147,000      153,051
Vmed O2 UK Financing I 144A 4.75% 7/15/31 #      405,000      360,989
VZ Secured Financing 144A 5.00% 1/15/32 #      200,000     177,942
    1,848,080
Transportation — 0.12%
Babcock International Group 1.375% 9/13/27 ■ EUR    200,000      232,692
Fedex Freight Holding      
144A 4.95% 3/15/33 #      235,000      235,076
144A 5.25% 3/15/36 #      185,000      184,499
Genesee & Wyoming 144A 6.25% 4/15/32 #      331,000      341,587
United Airlines Holdings 5.375% 3/1/31        46,000      46,957
    1,040,811
Total Corporate Bonds
(cost $111,163,818) 		112,547,321
Municipal Bonds — 0.17%
Bay Area, California Toll Authority Revenue
(Build America Bonds) Series S-3 6.907% 10/1/50   		     185,000      216,705
New Jersey Turnpike Authority Revenue
(Build America Bonds) Series A 7.102% 1/1/41   		     105,000      125,323
South Carolina Public Service Authority Revenue
Series D 4.77% 12/1/45   		      60,000       57,840
Texas Water Development Board Revenue
(Master Trust)  4.75% 10/15/55   		     530,000      537,818
18    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Municipal Bonds (continued)
Wisconsin Public Finance Authority Senior Lien Toll Revenue
(Georgia SR 400 Express Lanes Project)  6.50% 12/31/65 (AMT)  		     425,000 $    473,012
Total Municipal Bonds
(cost $1,445,860) 		  1,410,698
Non-Agency Asset-Backed Securities — 0.78%
Diamond Infrastructure Funding
Series 2021-1A A 144A 1.76% 4/15/49 # 		     250,000      243,988
Domino's Pizza Master Issuer
Series 2021-1A A2I 144A 2.662% 4/25/51 # 		     243,125      233,435
GMF Floorplan Owner Revolving Trust
Series 2023-1 A1 144A 5.34% 6/15/28 # 		     150,000      150,645
Hyundai Auto Lease Securitization Trust
Series 2024-C A3 144A 4.62% 4/17/28 # 		     500,000      502,507
Hyundai Auto Receivables Trust
Series 2025-D A2A 4.03% 11/15/28  		     480,000      481,278
JPMorgan Fixed Income Pass Through Trust Auction
Series 2007-B 144A 0.255% 1/15/87 #, =, ♦ 		   1,300,000          130
Nissan Master Owner Trust Receivables
Series 2024-B A 144A 5.05% 2/15/29 # 		   1,000,000    1,010,711
PFS Financing
Series 2024-B A 144A 4.95% 2/15/29 # 		   1,600,000    1,615,598
Porsche Innovative Lease Owner Trust
Series 2024-1A A3 144A 4.67% 11/22/27 # 		     505,000      506,409
Santander Drive Auto Receivables Trust
Series 2025-1 D 5.43% 3/17/31  		     420,000      429,948
Taco Bell Funding
Series 2021-1A A2I 144A 1.946% 8/25/51 # 		     461,775      451,605
Toyota Auto Loan Extended Note Trust
Series 2022-1A A 144A 3.82% 4/25/35 # 		     100,000      100,102
Toyota Auto Receivables Owner Trust
Series 2024-A A3 4.83% 10/16/28  		     138,253      139,124
Wheels Fleet Lease Funding 1
Series 2024-3A A1 144A 4.80% 9/19/39 # 		     661,175     668,538
Total Non-Agency Asset-Backed Securities
(cost $7,616,893) 		  6,534,018
NQ- 129 [0226] 0426 (5360778)    19

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Non-Agency Collateralized Mortgage Obligations — 0.91%
Connecticut Avenue Securities Trust      
Series 2023-R08 1M1 144A 5.167% (SOFR + 1.50%) 10/25/43 #, •      337,906 $    338,520
Series 2025-R01 1M2 144A 5.167% (SOFR + 1.50%) 1/25/45 #, •      510,000      510,158
Series 2025-R02 1M2 144A 5.297% (SOFR + 1.60%) 2/25/45 #, •      980,000      985,488
Series 2025-R03 2M1 144A 5.267% (SOFR + 1.60%) 3/25/45 #, •      118,370      118,641
Series 2025-R04 1M2 144A 5.167% (SOFR + 1.50%) 5/25/45 #, •      485,000      487,745
Series 2025-R05 2M2 144A 5.267% (SOFR + 1.60%) 7/25/45 #, •      230,000      230,432
Series 2025-R06 1B1 144A 5.517% (SOFR + 1.85%) 9/25/45 #, •      824,722      835,586
Series 2026-R01 2M2 144A 5.017% (SOFR + 1.35%) 1/25/46 #, •      700,000      700,000
Freddie Mac Structured Agency Credit Risk REMIC
Trust 		     
Series 2023-HQA3 A1 144A 5.517% (SOFR + 1.85%) 11/25/43 #, •      257,971      260,056
Series 2024-DNA3 M2 144A 5.117% (SOFR + 1.45%) 10/25/44 #, •      537,098      537,413
Series 2025-DNA2 M2 144A 5.167% (SOFR + 1.50%) 5/25/45 #, •      180,000      180,197
Series 2025-DNA3 M2 144A 5.167% (SOFR + 1.50%) 9/25/45 #, •      230,000      230,574
Series 2025-DNA4 M2 144A 5.217% (SOFR + 1.55%) 10/25/45 #, •    1,300,000    1,305,843
JPMorgan Mortgage Trust      
Series 2014-2 B1 144A 3.354% 6/25/29 #, •       42,373       41,550
Series 2014-2 B2 144A 3.354% 6/25/29 #, •       42,372       41,503
Series 2015-4 B1 144A 3.507% 6/25/45 #, •       66,586       63,221
Series 2015-4 B2 144A 3.507% 6/25/45 #, •       66,586       63,035
JPMorgan Trust      
Series 2015-5 B2 144A 5.27% 5/25/45 #, •        1,732        1,727
Series 2015-6 B1 144A 3.51% 10/25/45 #, •       47,874       46,842
Series 2015-6 B2 144A 3.51% 10/25/45 #, •       47,874       46,799
Sequoia Mortgage Trust
Series 2015-1 B2 144A 3.931% 1/25/45 #, • 		      12,910       12,705
Structured Agency Credit Risk
Series 2026-DNA1 M2 144A 4.958% (SOFR + 1.30%) 2/25/46 #, • 		     290,000      290,706
20    NQ- 129 [0226] 0426 (5360778)

 

    Principal
amount° 		Value (US $)
Non-Agency Collateralized Mortgage Obligations (continued)
Towd Point Mortgage Trust
Series 2018-1 A1 144A 3.00% 1/25/58 #, • 		       2,282 $      2,271
WST Trust
Series 2019-1 A 4.87% (BBSW1M + 1.08%) 8/18/50 • 		AUD    381,465     272,639
Total Non-Agency Collateralized Mortgage Obligations
(cost $7,562,196) 		  7,603,651
Non-Agency Commercial Mortgage-Backed Securities — 2.62%
1301 Trust
Series 2025-1301 A 144A 5.059% 8/11/42 #, • 		   1,450,000    1,484,490
BANK      
Series 2017-BNK5 B 3.896% 6/15/60 •       95,000       92,786
Series 2019-BN20 A3 3.011% 9/15/62       250,000      239,386
Series 2020-BN25 A5 2.649% 1/15/63       850,000      799,833
Series 2020-BN26 A4 2.403% 3/15/63       650,000      604,842
Bank of America Merrill Lynch Commercial Mortgage Trust
Series 2017-BNK3 B 3.879% 2/15/50 • 		     340,000      334,730
Benchmark Mortgage Trust      
Series 2020-B17 A5 2.289% 3/15/53       850,000      779,394
Series 2020-B18 A5 1.925% 7/15/53     1,000,000      900,205
Series 2021-B24 A5 2.584% 3/15/54       260,000      237,525
Series 2021-B25 A5 2.577% 4/15/54     1,450,000    1,323,993
Series 2022-B32 B 3.202% 1/15/55 •      550,000      471,555
Series 2022-B33 A5 3.458% 3/15/55 •    1,200,000    1,136,906
Series 2022-B34 A5 3.786% 4/15/55 •      350,000      331,975
Series 2022-B35 A5 4.442% 5/15/55 •      475,000      471,343
Series 2022-B36 A5 4.47% 7/15/55 •      550,000      546,446
BFLD Commercial Mortgage Trust
Series 2025-660F A 144A 5.16% (TSFR01M + 1.50%, Floor 1.50%) 11/15/42 #, • 		     725,000      726,359
Cantor Commercial Real Estate Lending
Series 2019-CF2 A5 2.874% 11/15/52  		     350,000      335,270
CD Mortgage Trust
Series 2019-CD8 A4 2.912% 8/15/57  		     250,000      237,778
CFCRE Commercial Mortgage Trust
Series 2016-C7 A3 3.839% 12/10/54  		     100,000       99,414
FREMF Mortgage Trust
Series 2020-K737 B 144A 3.327% 1/25/53 #, • 		   2,000,000    1,981,037
Grace Trust
Series 2020-GRCE A 144A 2.347% 12/10/40 # 		   1,500,000    1,360,842
NQ- 129 [0226] 0426 (5360778)    21

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Principal
amount° 		Value (US $)
Non-Agency Commercial Mortgage-Backed Securities (continued)
GS Mortgage Securities Trust      
Series 2017-GS5 A4 3.674% 3/10/50       350,000 $    346,671
Series 2017-GS6 A3 3.433% 5/10/50       515,000      509,684
Series 2019-GC39 A4 3.567% 5/10/52       580,000      564,723
Series 2019-GC42 A4 3.00% 9/10/52     1,280,000    1,223,721
JPM-DB Commercial Mortgage Securities Trust
Series 2017-C7 A5 3.409% 10/15/50  		     350,000      344,879
LBTY Commercial Mortgage Trust
Series 2026-225L A 144A 4.593% 2/10/43 #, • 		   1,550,000    1,560,129
LEX Trust
Series 2026-450 A 144A 5.00% (TSFR01M + 1.35%, Floor 1.35%) 3/15/43 #, • 		   1,045,000    1,044,673
MAD Commercial Mortgage Trust
Series 2025-11MD A 144A 4.912% 10/15/42 #, • 		     900,000      913,464
Wells Fargo Commercial Mortgage Trust
Series 2016-BNK1 A3 2.652% 8/15/49  		     835,000     829,286
Total Non-Agency Commercial Mortgage-Backed Securities
(cost $22,202,037) 		 21,833,339
US Treasury Obligations — 4.02%
US Treasury Bonds      
4.75% 5/15/55    5,840,000    5,945,166
5.00% 5/15/45    1,000,000    1,057,383
US Treasury Notes      
3.50% 1/15/29    1,970,000    1,976,233
3.625% 9/30/30    2,200,000    2,211,602
3.625% 12/31/30    2,120,000    2,130,103
3.75% 1/31/31      625,000      631,445
4.00% 11/15/35   19,500,000  19,573,125
Total US Treasury Obligations
(cost $32,988,412) 		 33,525,057
    Number of
shares 		 
Common Stocks — 56.51%♣
Communication Services — 3.99%
Alphabet Class A      35,580   11,092,421
Alphabet Class C      18,349   5,714,429
AT&T     183,810   5,148,518
KDDI      14,700     251,424
Meta Platforms Class A       7,496   4,858,757
22    NQ- 129 [0226] 0426 (5360778)

 

    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Communication Services (continued)
Publicis Groupe       3,496 $    311,551
Verizon Communications     117,686   5,900,776
   33,277,876
Consumer Discretionary — 3.97%
adidas       2,866      535,739
Amadeus IT Group      14,543      906,285
Best Buy      43,670    2,706,230
Booking Holdings         788    3,340,608
eBay      33,537    3,047,172
Genuine Parts      24,901    2,969,693
Lowe's      14,256    3,771,710
LVMH Moet Hennessy Louis Vuitton       1,333      856,997
NIKE Class B      53,682    3,337,947
Ross Stores      24,805    5,100,900
Sodexo      12,313      675,075
TJX      36,380   5,881,191
   33,129,547
Consumer Staples — 2.85%
Altria Group      76,139    5,256,637
Anheuser-Busch InBev       9,522      774,307
Asahi Group Holdings      13,700      149,093
Diageo      27,434      614,650
Hershey      10,549    2,492,518
Kao      13,300      568,400
Koninklijke Ahold Delhaize      13,037      643,447
Magnum Ice Cream †      1,329       21,045
Nestle       3,602      393,439
PepsiCo      18,129    3,077,216
Philip Morris International      32,080    5,993,506
Procter & Gamble      19,118    3,196,530
Seven & i Holdings      14,200      199,636
Unilever       5,850     431,005
   23,811,429
Energy — 2.52%
Chevron      28,738    5,367,109
EOG Resources       8,114    1,006,785
Expand Energy      16,498    1,780,464
Exxon Mobil      84,626  12,905,465
   21,059,823
NQ- 129 [0226] 0426 (5360778)    23

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Financials — 10.73%
American Financial Group      30,532 $  4,060,145
Ameriprise Financial       7,822    3,677,279
Artisan Partners Asset Management Class A      38,684    1,558,192
Bank of America      65,650    3,271,339
Bank of New York Mellon      48,664    5,795,882
Blackrock       4,990    5,305,518
Blackstone      24,187    2,742,080
Charles Schwab      36,228    3,448,906
Citizens Financial Group     102,834    6,189,578
Corebridge Financial     119,482    3,087,415
Fidelity National Financial      54,908    2,903,535
Fifth Third Bancorp      52,413    2,592,871
Huntington Bancshares     170,317    2,861,326
JPMorgan Chase & Co.       1,225      367,867
KeyCorp     240,166    4,981,043
London Stock Exchange Group       1,532      182,924
Marsh & McLennan      18,600    3,473,364
MetLife      52,322    3,770,847
MNSN Holdings =, †        115        6,133
Pluxee      19,954      266,899
PNC Financial Services Group      13,250    2,813,637
Principal Financial Group      49,970    4,768,137
Progressive      17,400    3,717,684
Prudential Financial      10,652    1,047,944
Regions Financial      57,096    1,588,982
Sberbank of Russia PJSC =, †     52,870            0
State Street      29,819    3,835,320
Synchrony Financial      66,932    4,625,670
Truist Financial      67,704    3,338,484
Wells Fargo & Co.      40,800   3,323,160
   89,602,161
Healthcare — 8.06%
AbbVie      31,596    7,332,800
Bristol-Myers Squibb      78,245    4,880,141
Cardinal Health      26,357    6,041,815
Cencora      14,353    5,341,325
Cigna Group      12,182    3,530,587
Coloplast Class B      11,633      897,733
Gilead Sciences      44,969    6,698,132
Johnson & Johnson      15,540    3,860,602
McKesson       5,975    5,899,536
24    NQ- 129 [0226] 0426 (5360778)

 

    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Healthcare (continued)
Merck & Co.      63,958 $  7,919,280
Novo Nordisk Class B      12,284      462,136
OmniAb 12.5 =, †        363            0
OmniAb 15 =, †        363            0
Pfizer     164,305    4,543,033
Roche Holding       2,109    1,006,702
SIGA Technologies     237,310    1,535,396
Smith & Nephew      28,129      519,909
Thermo Fisher Scientific       6,308    3,287,162
Zoetis      26,600   3,487,260
   67,243,549
Industrials — 3.99%
Atlas Copco Class B      32,622      613,767
Carrier Global      56,000    3,606,400
CSX      97,310    4,154,164
Dover      18,134    4,089,217
DSV       2,652      685,898
Intertek Group       7,475      475,679
Jacobs Solutions      25,041    3,452,152
Knorr-Bremse       2,937      386,945
Kone Class B       5,157      390,107
Lockheed Martin       2,926    1,925,542
Makita      18,800      728,934
Masco      52,684    3,773,228
Northrop Grumman       5,404    3,914,550
Schneider Electric         361      118,028
Securitas Class B      39,749      707,571
United Parcel Service Class B      31,410    3,642,304
Wolters Kluwer       7,666     616,860
   33,281,346
Information Technology — 17.77%
Accenture Class A      11,586    2,418,230
Analog Devices      10,801    3,842,888
Apple      74,941   19,797,913
ASML Holding         755    1,100,326
Broadcom      32,469   10,375,469
CDW      21,245    2,605,487
Cisco Systems     111,110    8,828,801
Dell Technologies Class C      30,161    4,466,241
HP     117,648    2,234,136
NQ- 129 [0226] 0426 (5360778)    25

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Information Technology (continued)
Lam Research      41,596 $  9,728,888
Micron Technology      25,501   10,515,847
Microsoft      44,692   17,552,336
Monolithic Power Systems       4,533    5,180,040
NetApp      34,669    3,433,271
NVIDIA     168,278   29,817,179
Qnity Electronics      21,942    2,781,368
QUALCOMM      27,502    3,915,185
SAP       4,741      957,712
Seagate Technology Holdings      11,228    4,579,228
Teledyne Technologies †      6,202   4,224,182
  148,354,727
Materials — 1.24%
Air Liquide       3,082      649,095
Amcor      33,371    1,616,158
DuPont de Nemours      83,084    4,157,523
PPG Industries      31,700   3,907,659
   10,330,435
Real Estate — 0.45%
Prologis      26,253   3,742,890
    3,742,890
Utilities — 0.94%
Duke Energy      27,977    3,660,790
Edison International      55,874   4,176,023
    7,836,813
Total Common Stocks
(cost $304,965,618) 		471,670,596
Preferred Stocks — 0.11%♣
Consumer Staples — 0.10%      
Henkel & Co. 3.08%  ω        8,718     856,853
          856,853
Financials — 0.01%      
SVB Financial Trust 11/7/32 †          133      59,517
           59,517
Total Preferred Stocks
(cost $768,933) 		    916,370
26    NQ- 129 [0226] 0426 (5360778)

 

    Number of
shares 		Value (US $)
Exchange-Traded Funds — 12.21%
iShares Core MSCI EAFE ETF    207,034 $ 20,355,583
iShares Core US Aggregate Bond ETF     74,044    7,508,062
iShares iBoxx High Yield Corporate Bond ETF    153,791   12,414,009
Vanguard S&P 500 ETF     97,710  61,658,918
Total Exchange-Traded Funds
(cost $98,339,996) 		101,936,572
Short-Term Investments — 0.87%
Money Market Mutual Funds — 0.87%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.56%)    1,827,395    1,827,395
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.55%)    1,827,395    1,827,395
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.61%)    1,827,395    1,827,395
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.59%)    1,827,394   1,827,394
Total Short-Term Investments
(cost $7,309,579) 		  7,309,579
Total Value of Securities—99.94%
(cost $662,164,524) 		    834,196,796
Receivables and Other Assets Net of Liabilities—0.06%★         472,105
Net Assets Applicable to 51,787,512 Shares Outstanding—100.00%     $834,668,901
° Principal amount shown is stated in USD unless noted that the security is denominated in another currency.
Σ Interest only security. An interest only security is the interest only portion of a fixed income security, which is separated and sold individually from the principal portion of the security.
= The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security.
# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At February 28, 2026, the aggregate value of Rule 144A securities was $77,381,186, which represents 9.27% of the Fund’s net assets.
NQ- 129 [0226] 0426 (5360778)    27

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
• Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at February 28, 2026. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions.
μ Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at February 28, 2026. Rate will reset at a future date.
ψ Perpetual security. Maturity date represents next call date.
■ Regulation S security. Security is offered and sold outside of the United States; therefore, it is exempt from registration with the SEC under Rules 903 and 904 of the Securities Act of 1933, as amended.
♦ Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes.
♣ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.
† Non-income producing security.
ω Perpetual security with no stated maturity date.
★ Includes $557,467 cash collateral held at broker for futures contracts as of February 28, 2026.
 
28    NQ- 129 [0226] 0426 (5360778)

 

The following futures contracts were outstanding at February 28, 2026:
Futures Contracts
Exchange-Traded
Contracts to
Buy (Sell) 		  Notional
Amount 		  Notional
Cost
(Proceeds) 		  Expiration
Date 		  Value/
Unrealized
Appreciation 		  Value/
Unrealized
Depreciation 		  Variation
Margin
Due from
(Due to)
Brokers
Long Contracts:  
US Treasury 2 yr Notes  
   110     $23,020,078   $22,981,851   6/30/26   $38,227   $—   $30,938
US Treasury 5 yr Notes  
   160     17,622,501   17,529,090   6/30/26   93,411   —   51,251
US Treasury 10 yr Notes  
   37     4,211,063   4,177,044   6/18/26   34,019   —   16,765
US Treasury Long Bonds  
   271     32,105,031   31,702,799   6/18/26   402,232   —   160,906
            76,390,784       567,889 — 259,860
Short Contracts:  
US Treasury 10 yr Ultra Notes  
   (380)     (44,359,064)   (43,913,419)   6/18/26   —   (445,645)   —
US Treasury Ultra Bonds  
   (68)     (8,268,375)   (8,149,193)   6/18/26   —   (119,182)   (48,875)
            (52,062,612)       — (564,827) (48,875)
Total Futures Contracts   $24,328,172       $567,889   $(564,827)   $210,985
The use of futures contracts involves elements of market risk and risks in excess of the amounts disclosed in the schedule of investments. The notional amounts presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin are reflected in the Fund’s net assets.
Summary of abbreviations:
AMT – Subject to Alternative Minimum Tax
BBSW1M – Bank Bill Swap Rate 1 Month
CLO – Collateralized Loan Obligation
DAC – Designated Activity Company
DB – Deutsche Bank
EAFE – Europe, Australasia, and Far East
ETF – Exchange-Traded Fund
FREMF – Freddie Mac Multifamily
GNMA – Government National Mortgage Association
NQ- 129 [0226] 0426 (5360778)    29

 

Consolidated Schedule of investments
Nomura Wealth Builder Fund 
Summary of abbreviations: (continued)
GS – Goldman Sachs
LNG – Liquefied Natural Gas
MSCI – Morgan Stanley Capital International
PJSC – Private Joint Stock Company
REMIC – Real Estate Mortgage Investment Conduit
S&P – Standard & Poor’s Financial Services LLC
S.F. – Single Family
SOFR – Secured Overnight Financing Rate
SOFR01M – Secured Overnight Financing Rate 1 Month
SOFR03M – Secured Overnight Financing Rate 3 Month
TSFR01M – 1 Month Term Secured Overnight Financing Rate
TSFR03M – 3 Month Term Secured Overnight Financing Rate
yr – Year
Summary of currencies:
AUD – Australian Dollar
EUR – European Monetary Unit
USD – US Dollar
30    NQ- 129 [0226] 0426 (5360778)