N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-07988

LORD ABBETT INVESTMENT TRUST

(Exact name of Registrant as specified in charter)

90 Hudson Street, Jersey City, New Jersey 07302-3973

(Address of principal executive offices) (Zip code)

Lawrence B. Stoller, Esq.

Vice President, Secretary, and Chief Legal Officer

90 Hudson Street, Jersey City, New Jersey 07302-3973

(Name and address of agent for service)

Registrant’s telephone number, including area code: (888) 522-2388

Date of fiscal year end: 11/30

Date of reporting period: 5/31/2023

Item 1: Report(s) to Shareholders.

LORD ABBETT
SEMIANNUAL REPORT

Lord Abbett

Convertible Fund	Income Fund
Core Fixed Income Fund	Inflation Focused Fund
Core Plus Bond Fund	Short Duration Core Bond Fund
Corporate Bond Fund	Short Duration Income Fund
Floating Rate Fund	Total Return Fund
High Yield Fund	Ultra Short Bond Fund

For the six-month period ended May 31, 2023

Table of Contents

1	A Letter to Shareholders
2	Information About Your Fund’s Expenses and Holdings Presented by Sector
	Schedules of Investments:
27	Convertible Fund
32	Core Fixed Income Fund
53	Core Plus Bond Fund
83	Corporate Bond Fund
92	Floating Rate Fund
122	High Yield Fund
150	Income Fund
167	Inflation Focused Fund
203	Short Duration Core Bond Fund
229	Short Duration Income Fund
285	Total Return Fund
308	Ultra Short Bond Fund
326	Statements of Assets and Liabilities
334	Statements of Operations
340	Statements of Changes in Net Assets
348	Financial Highlights
398	Notes to Financial Statements
452	Supplemental Information to Shareholders

Lord Abbett Investment Trust

Lord Abbett Convertible Fund, Lord Abbett Core Fixed Income Fund, Lord Abbett Core Plus Bond Fund, Lord Abbett Corporate Bond Fund, Lord Abbett Floating Rate Fund, Lord Abbett High Yield Fund, Lord Abbett Income Fund, Lord Abbett Inflation Focused Fund, Lord Abbett Short Duration Core Bond Fund, Lord Abbett Short Duration Income Fund, Lord Abbett Total Return Fund, and Lord Abbett Ultra Short Bond Fund
Semiannual Report

For the six-month period ended May 31, 2023

From left to right: James L.L. Tullis, Independent Chair of the Lord Abbett Funds and Douglas B. Sieg, Trustee, President and Chief Executive Officer of the Lord Abbett Funds. Dear Shareholders: We are pleased to provide you with this semiannual report for Lord Abbett Investment Trust for the six-month period ended May 31, 2023. For additional information about the Funds, please visit our website at www.lordabbett.com, where you can access the quarterly commentaries by the Funds portfolio managers. General information about Lord Abbett mutual funds, as well as in-depth discussions of market trends and investment strategies, is also provided in Lord Abbett Insights, a quarterly newsletter available on our website. Thank you for investing in Lord Abbett mutual funds. We value the trust that you place in us and look forward to serving your investment needs in the years to come.   Best regards, Douglas B. Sieg Trustee, President and Chief Executive Officer

1

Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments (these charges vary among the share classes); and (2) ongoing costs, including management fees; distribution and service (12b-1) fees (these charges vary among the share classes); and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 through May 31, 2023).

Actual Expenses

For each class of each Fund, the first line of the applicable table on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled “Expenses Paid During Period 12/1/22 – 5/31/23” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

For each class of each Fund, the second line of the applicable table on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in each Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

2

Convertible Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	975.60	$	5.47
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.40	$	5.59
Class C
Actual	$	1,000.00	$	972.10	$	8.56
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,016.26	$	8.75
Class F
Actual	$	1,000.00	$	976.00	$	4.98
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.90	$	5.09
Class F3
Actual	$	1,000.00	$	976.20	$	3.99
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.89	$	4.08
Class I
Actual	$	1,000.00	$	976.10	$	4.48
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.39	$	4.58
Class P
Actual	$	1,000.00	$	973.50	$	6.69
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.15	$	6.84
Class R2
Actual	$	1,000.00	$	973.50	$	7.43
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,017.40	$	7.59
Class R3
Actual	$	1,000.00	$	974.00	$	6.94
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,017.90	$	7.09
Class R4
Actual	$	1,000.00	$	975.40	$	5.71
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.15	$	5.84
Class R5
Actual	$	1,000.00	$	976.10	$	4.48
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.39	$	4.58
Class R6
Actual	$	1,000.00	$	977.00	$	3.99
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.89	$	4.08

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (1.11% for Class A, 1.74% for Class C, 1.01% for Class F, 0.81% for Class F3, 0.91% for Class I, 1.36% for Class P, 1.51% for Class R2, 1.41% for Class R3, 1.16% for Class R4, 0.91% for Class R5 and 0.81% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

3

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Basic Materials		0.59	%
Communications		27.29	%
Consumer Cyclical		4.39	%
Consumer Non-cyclical		29.32	%
Energy		2.85	%
Financial		3.53	%

Sector*	%**
Industrial		6.39	%
Technology		17.02	%
Utilities		5.40	%
Repurchase Agreements		3.22	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

4

Core Fixed Income Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,018.70	$	2.77
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.19	$	2.77
Class C
Actual	$	1,000.00	$	1,015.60	$	5.83
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.15	$	5.84
Class F
Actual	$	1,000.00	$	1,019.20	$	2.27
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.69	$	2.27
Class F3
Actual	$	1,000.00	$	1,020.00	$	1.51
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.44	$	1.51
Class I
Actual	$	1,000.00	$	1,021.00	$	1.56
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.39	$	1.56
Class R2
Actual	$	1,000.00	$	1,016.70	$	4.78
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.19	$	4.78
Class R3
Actual	$	1,000.00	$	1,017.20	$	4.27
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.69	$	4.28
Class R4
Actual	$	1,000.00	$	1,018.50	$	3.02
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.94	$	3.02
Class R5
Actual	$	1,000.00	$	1,019.80	$	1.76
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.19	$	1.77
Class R6
Actual	$	1,000.00	$	1,021.10	$	1.51
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.44	$	1.51

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.55% for Class A, 1.16% for Class C, 0.45% for Class F, 0.30% for Class F3, 0.31% for Class I, 0.95% for Class R2, 0.85% for Class R3, 0.60% for Class R4, 0.35% for Class R5 and 0.30% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

5

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		11.51	%
Basic Materials		0.48	%
Communications		2.26	%
Consumer Cyclical		1.72	%
Consumer Non-cyclical		5.85	%
Energy		3.32	%
Financial		14.46	%
Foreign Government		2.96	%

Sector*	%**
Industrial		0.59	%
Mortgage-Backed Securities		32.46	%
Technology		0.99	%
U.S. Government		17.11	%
Utilities		4.48	%
Repurchase Agreements		1.80	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

6

Core Plus Bond Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,019.00	$	3.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.84	$	3.13
Class C
Actual	$	1,000.00	$	1,016.50	$	6.38
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.60	$	6.39
Class F
Actual	$	1,000.00	$	1,019.50	$	2.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.34	$	2.62
Class F3*
Actual	$	1,000.00	$	1,020.20	$	1.91
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.04	$	1.92
Class I
Actual	$	1,000.00	$	1,020.00	$	2.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.84	$	2.12
Class R3
Actual	$	1,000.00	$	1,018.30	$	4.58
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.39	$	4.58
Class R4
Actual	$	1,000.00	$	1,019.50	$	3.37
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.59	$	3.38
Class R5
Actual	$	1,000.00	$	1,020.80	$	1.96
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.99	$	1.97
Class R6*
Actual	$	1,000.00	$	1,021.00	$	1.91
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.04	$	1.92

†	For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.62% for Class A, 1.27% for Class C, 0.52% for Class F, 0.38% for Class F3, 0.42% for Class I, 0.91% for Class R3, 0.67% for Class R4, 0.39% for Class R5 and 0.38% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).
*	The annualized expenses have been updated to 0.40% for Classes F3 and R6. Had these updated expense ratios been in place throughout the most recent fiscal half-year, expenses paid during the period would have been:

	Actual		Hypothetical (5% Return Before Expenses)
Class F3	$	2.01		$2.02
Class R6	$	2.02		$2.02

7

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		11.96	%
Basic Materials		1.59	%
Communications		3.27	%
Consumer Cyclical		3.12	%
Consumer Non-cyclical		7.30	%
Energy		5.66	%
Financial		15.98	%
Foreign Government		3.28	%

Sector*	%**
Industrial		2.37	%
Mortgage-Backed Securities		26.03	%
Technology		1.96	%
U.S. Government		9.74	%
Utilities		5.30	%
Repurchase Agreement		2.44	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

8

Corporate Bond Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,021.10	$	3.43
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.54	$	3.43
Class C
Actual	$	1,000.00	$	1,018.10	$	6.49
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.50	$	6.49
Class F
Actual	$	1,000.00	$	1,021.60	$	2.92
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.04	$	2.92
Class F3*
Actual	$	1,000.00	$	1,022.40	$	2.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.84	$	2.12
Class I
Actual	$	1,000.00	$	1,022.10	$	2.42
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.54	$	2.42
Class R2
Actual	$	1,000.00	$	1,019.00	$	5.44
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.55	$	5.44
Class R3
Actual	$	1,000.00	$	1,019.60	$	4.93
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.04	$	4.94
Class R4
Actual	$	1,000.00	$	1,020.80	$	3.68
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.29	$	3.68
Class R5
Actual	$	1,000.00	$	1,023.30	$	2.42
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.54	$	2.42
Class R6*
Actual	$	1,000.00	$	1,022.40	$	2.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.84	$	2.12

†

For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.68% for Class A, 1.29% for Class C, 0.58% for Class F, 0.42% for Class F3, 0.48% for Class I, 1.08% for Class R2, 0.98% for Class R3, 0.73% for Class R4, 0.48% for Class R5 and 0.42% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

*

The annualized expenses have been updated to 0.38% for Classes F3 and R6. Had these updated expense ratios been in place throughout the most recent fiscal half-year, expenses paid during the period would have been:

	Actual		Hypothetical (5% Return Before Expenses)
Class F3	$	1.92		$1.92
Class R6	$	1.92		$1.92

9

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Basic Materials		0.40	%
Communications		4.62	%
Consumer Cyclical		4.18	%
Consumer Non-cyclical		14.30	%
Energy		8.89	%
Financial		39.22	%

Sector*	%**
Industrial		3.08	%
Technology		4.84	%
U.S. Government		3.37	%
Utilities		16.45	%
Repurchase Agreement		0.65	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

10

Floating Rate Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,038.60	$	4.17
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.84	$	4.13
Class C
Actual	$	1,000.00	$	1,036.70	$	7.41
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,017.65	$	7.34
Class F
Actual	$	1,000.00	$	1,040.50	$	3.61
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.39	$	3.58
Class F3
Actual	$	1,000.00	$	1,041.40	$	2.75
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.24	$	2.72
Class I
Actual	$	1,000.00	$	1,041.00	$	3.10
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.89	$	3.07
Class R2
Actual	$	1,000.00	$	1,036.60	$	6.14
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.90	$	6.09
Class R3
Actual	$	1,000.00	$	1,038.40	$	5.69
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.35	$	5.64
Class R4
Actual	$	1,000.00	$	1,038.40	$	4.42
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.59	$	4.38
Class R5
Actual	$	1,000.00	$	1,041.00	$	3.15
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.84	$	3.13
Class R6
Actual	$	1,000.00	$	1,040.10	$	2.75
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.24	$	2.72

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.82% for Class A, 1.46% for Class C, 0.71% for Class F, 0.54% for Class F3, 0.61% for Class I, 1.21% for Class R2, 1.12% for Class R3, 0.87% for Class R4, 0.62% for Class R5 and 0.54% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

11

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		0.60	%
Basic Materials		2.55	%
Communications		8.39	%
Consumer Cyclical		17.38	%
Consumer Non-cyclical		14.42	%
Diversified		0.11	%
Energy		4.83	%
Financial		9.52	%

Sector*	%**
Industrial		14.22	%
Technology		16.30	%
Utilities		1.76	%
Repurchase Agreements		8.81	%
Money Market Funds(a)		1.00	%
Time Deposits(a)		0.11	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.
(a)	Securities were purchased with the cash collateral from loaned securities.

12

High Yield Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,013.10	$	4.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.34	$	4.63
Class C
Actual	$	1,000.00	$	1,009.90	$	7.72
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,017.25	$	7.75
Class F
Actual	$	1,000.00	$	1,013.60	$	4.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.84	$	4.13
Class F3
Actual	$	1,000.00	$	1,014.70	$	3.06
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.89	$	3.07
Class I
Actual	$	1,000.00	$	1,014.20	$	3.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.34	$	3.63
Class R2
Actual	$	1,000.00	$	1,011.20	$	6.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.35	$	6.64
Class R3
Actual	$	1,000.00	$	1,011.70	$	6.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.85	$	6.14
Class R4
Actual	$	1,000.00	$	1,012.80	$	4.87
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.09	$	4.89
Class R5
Actual	$	1,000.00	$	1,015.80	$	3.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.34	$	3.63
Class R6
Actual	$	1,000.00	$	1,014.70	$	3.06
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.89	$	3.07

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.92% for Class A, 1.54% for Class C, 0.82% for Class F, 0.61% for Class F3, 0.72% for Class I, 1.32% for Class R2, 1.22% for Class R3, 0.97% for Class R4, 0.72% for Class R5 and 0.61% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

13

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Basic Materials		6.09	%
Communications		7.28	%
Consumer Cyclical		25.28	%
Consumer Non-cyclical		16.40	%
Diversified		0.35	%
Energy		16.60	%
Financial		5.34	%

Sector*	%**
Foreign Government		0.10	%
Industrial		13.78	%
Mortgage-Backed Securities		0.43	%
Technology		3.71	%
Utilities		4.40	%
Repurchase Agreement		0.24	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

14

Income Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,028.00	$	3.74
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.24	$	3.73
Class C
Actual	$	1,000.00	$	1,024.90	$	6.82
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.20	$	6.79
Class F
Actual	$	1,000.00	$	1,028.50	$	3.24
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.74	$	3.23
Class F3
Actual	$	1,000.00	$	1,029.40	$	2.33
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.64	$	2.32
Class I
Actual	$	1,000.00	$	1,029.00	$	2.68
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.29	$	2.67
Class R2
Actual	$	1,000.00	$	1,021.70	$	5.75
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.25	$	5.74
Class R3
Actual	$	1,000.00	$	1,026.40	$	5.25
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.75	$	5.24
Class R4
Actual	$	1,000.00	$	1,027.70	$	3.99
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.99	$	3.98
Class R5
Actual	$	1,000.00	$	1,029.00	$	2.73
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.24	$	2.72
Class R6
Actual	$	1,000.00	$	1,029.40	$	2.33
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.64	$	2.32

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.74% for Class A, 1.35% for Class C, 0.64% for Class F, 0.46% for Class F3, 0.53% for Class I, 1.14% for Class R2, 1.04% for Class R3, 0.79% for Class R4, 0.54% for Class R5 and 0.46% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

15

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		6.00	%
Basic Materials		1.17	%
Communications		5.13	%
Consumer Cyclical		3.37	%
Consumer Non-cyclical		16.79	%
Energy		12.56	%
Financial		26.86	%
Foreign Government		0.04	%

Sector*	%**
Industrial		3.23	%
Mortgage-Backed Securities		1.20	%
Technology		4.54	%
U.S. Government		4.22	%
Utilities		13.27	%
Repurchase Agreements		1.62	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

16

Inflation Focused Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,010.50	$	3.71
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.24	$	3.73
Class C
Actual	$	1,000.00	$	1,006.10	$	7.25
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,017.70	$	7.29
Class F
Actual	$	1,000.00	$	1,011.00	$	3.21
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.74	$	3.23
Class F3
Actual	$	1,000.00	$	1,012.00	$	2.26
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.69	$	2.27
Class I
Actual	$	1,000.00	$	1,010.70	$	2.71
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.24	$	2.72
Class R2
Actual	$	1,000.00	$	1,008.50	$	5.71
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.25	$	5.74
Class R3
Actual	$	1,000.00	$	1,009.00	$	5.16
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.80	$	5.19
Class R4
Actual	$	1,000.00	$	1,009.40	$	3.96
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.99	$	3.98
Class R5
Actual	$	1,000.00	$	1,010.70	$	2.56
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.39	$	2.57
Class R6
Actual	$	1,000.00	$	1,012.00	$	2.26
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.69	$	2.27

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.74% for Class A, 1.45% for Class C, 0.64% for Class F, 0.45% for Class F3, 0.54% for Class I, 1.14% for Class R2, 1.03% for Class R3, 0.79% for Class R4, 0.51% for Class R5 and 0.45% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

17

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		26.62	%
Basic Materials		2.43	%
Communications		2.02	%
Consumer Cyclical		3.56	%
Consumer Non-cyclical		4.97	%
Energy		6.73	%
Financial		31.40	%

Sector*	%**
Industrial		0.55	%
Mortgage-Backed Securities		13.15	%
Technology		1.48	%
U.S. Government		1.10	%
Utilities		5.39	%
Repurchase Agreements		0.60	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

18

Short Duration Core Bond Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,022.20	$	3.02
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.94	$	3.02
Class C
Actual	$	1,000.00	$	1,020.10	$	6.25
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.75	$	6.24
Class F
Actual	$	1,000.00	$	1,023.80	$	2.52
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.44	$	2.52
Class F3*
Actual	$	1,000.00	$	1,024.70	$	1.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.34	$	1.61
Class I
Actual	$	1,000.00	$	1,024.30	$	2.02
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.94	$	2.02
Class R3
Actual	$	1,000.00	$	1,021.80	$	4.54
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.44	$	4.53
Class R4
Actual	$	1,000.00	$	1,023.00	$	3.28
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.69	$	3.28
Class R5
Actual	$	1,000.00	$	1,024.30	$	2.02
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.94	$	2.02
Class R6*
Actual	$	1,000.00	$	1,024.70	$	1.62
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.34	$	1.61

†	For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.60% for Class A, 1.24% for Class C, 0.50% for Class F, 0.32% for Class F3, 0.40% for Class I, 0.90% for Class R3, 0.65% for Class R4, 0.40% for Class R5 and 0.32% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).
*	The annualized expenses have been updated to 0.30% for Classes F3 and R6. Had these updated expense ratios been in place throughout the most recent fiscal half-year, expenses paid during the period would have been:

	Actual		Hypothetical (5% Return Before Expenses)
Class F3	$	1.51		$1.51
Class R6	$	1.51		$1.51

19

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		16.89	%
Basic Materials		2.63	%
Communications		2.92	%
Consumer Cyclical		4.36	%
Consumer Non-cyclical		7.36	%
Energy		4.75	%
Financial		34.68	%
Foreign Government		1.05	%
Industrial		2.05	%

Sector*	%**
Mortgage-Backed Securities		6.48	%
Municipal Bonds		0.02	%
Technology		1.73	%
U.S. Government		4.35	%
Utilities		9.54	%
Repurchase Agreements		1.19	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

20

Short Duration Income Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,021.40	$	2.97
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.99	$	2.97
Class C
Actual	$	1,000.00	$	1,018.30	$	6.09
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.90	$	6.09
Class F
Actual	$	1,000.00	$	1,024.60	$	2.47
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.49	$	2.47
Class F3
Actual	$	1,000.00	$	1,022.80	$	1.61
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.34	$	1.61
Class I
Actual	$	1,000.00	$	1,022.50	$	1.97
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.99	$	1.97
Class R2
Actual	$	1,000.00	$	1,019.40	$	4.98
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.00	$	4.99
Class R3
Actual	$	1,000.00	$	1,019.90	$	4.48
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.49	$	4.48
Class R4
Actual	$	1,000.00	$	1,021.20	$	3.23
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.74	$	3.23
Class R5
Actual	$	1,000.00	$	1,022.40	$	1.97
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.99	$	1.97
Class R6
Actual	$	1,000.00	$	1,022.80	$	1.61
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.34	$	1.61

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.59% for Class A, 1.21% for Class C, 0.49% for Class F, 0.32% for Class F3, 0.39% for Class I, 0.99% for Class R2, 0.89% for Class R3, 0.64% for Class R4, 0.39% for Class R5 and 0.32% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

21

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		24.05	%
Basic Materials		2.41	%
Communications		2.67	%
Consumer Cyclical		3.99	%
Consumer Non-cyclical		6.12	%
Energy		5.47	%
Financial		27.94	%

Sector*	%**
U.S. Government		4.75	%
Industrial		1.19	%
Mortgage-Backed Securities		14.22	%
Technology		1.87	%
Utilities		4.93	%
Repurchase Agreements		0.39	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

22

Total Return Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,020.40	$	3.32
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.64	$	3.33
Class C
Actual	$	1,000.00	$	1,018.50	$	6.39
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.60	$	6.39
Class F
Actual	$	1,000.00	$	1,020.90	$	2.82
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.14	$	2.82
Class F3
Actual	$	1,000.00	$	1,022.00	$	1.81
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.14	$	1.82
Class I
Actual	$	1,000.00	$	1,021.60	$	2.12
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.84	$	2.12
Class P
Actual	$	1,000.00	$	1,020.30	$	4.58
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.39	$	4.58
Class R2
Actual	$	1,000.00	$	1,018.40	$	5.33
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,019.65	$	5.34
Class R3
Actual	$	1,000.00	$	1,018.90	$	4.83
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.14	$	4.84
Class R4
Actual	$	1,000.00	$	1,020.20	$	3.58
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.39	$	3.58
Class R5
Actual	$	1,000.00	$	1,022.60	$	2.32
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.64	$	2.32
Class R6
Actual	$	1,000.00	$	1,021.90	$	1.81
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.14	$	1.82

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.66% for Class A, 1.27% for Class C, 0.56% for Class F, 0.36% for Class F3, 0.42% for Class I, 0.91% for Class P, 1.06% for Class R2, 0.96% for Class R3, 0.71% for Class R4, 0.46% for Class R5 and 0.36% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

23

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		12.30	%
Basic Materials		1.20	%
Communications		3.10	%
Consumer Cyclical		2.59	%
Consumer Non-cyclical		5.87	%
Energy		4.33	%
Financial		15.89	%
Foreign Government		2.37	%

Sector*	%**
Industrial		1.68	%
Mortgage-Backed Securities		32.47	%
Technology		1.14	%
U.S. Government		10.57	%
Utilities		4.35	%
Repurchase Agreements		2.14	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

24

Ultra Short Bond Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†
	12/1/22		5/31/23		12/1/22 – 5/31/23
Class A
Actual	$	1,000.00	$	1,026.20	$	2.22
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.74	$	2.22
Class A1
Actual	$	1,000.00	$	1,026.70	$	2.73
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.24	$	2.72
Class F
Actual	$	1,000.00	$	1,026.40	$	1.97
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.99	$	1.97
Class F3
Actual	$	1,000.00	$	1,027.20	$	1.21
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.73	$	1.21
Class I
Actual	$	1,000.00	$	1,026.90	$	1.47
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.49	$	1.46
Class R5
Actual	$	1,000.00	$	1,027.00	$	1.47
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.49	$	1.46
Class R6
Actual	$	1,000.00	$	1,027.20	$	1.21
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.73	$	1.21

^† For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.44% for Class A, 0.54% for Class A1, 0.39% for Class F, 0.24% for Class F3, 0.29% for Class I, 0.29% for Class R5 and 0.24% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

25

Portfolio Holdings Presented by Sector

May 31, 2023

Sector*	%**
Asset-Backed Securities		24.88	%
Basic Materials		2.84	%
Communications		3.35	%
Consumer Cyclical		5.27	%
Consumer Discretionary		0.70	%
Consumer Non-cyclical		8.53	%
Energy		3.02	%
Financial		36.40	%

Sector*	%**
Industrial		1.02	%
Mortgage-Backed Securities		4.29	%
Technology		1.02	%
U .S. Government		4.69	%
Utilities		3.69	%
Repurchase Agreements		0.30	%
Total		100.00	%

*	A sector may comprise several industries.
**	Represents percent of total investments, which excludes derivatives.

26

Schedule of Investments (unaudited)

CONVERTIBLE FUND May 31, 2023

Investments			Shares		Fair Value
LONG-TERM INVESTMENTS 96.65%
COMMON STOCKS 0.25%
Information Technology Services
Shopify, Inc. Class A (Canada)*(a) (cost $1,717,397)				29,895	$	1,709,695
	Interest Rate	Maturity Date	Principal Amount
CONVERTIBLE BONDS 88.12%
Aerospace/Defense 0.91%
Safran SA(b)	0.875%	5/15/2027	EUR	4,082,400		6,306,715
Biotechnology 3.47%
Apellis Pharmaceuticals, Inc.	3.50%	9/15/2026	$	2,740,000		6,193,770
Insmed, Inc.	0.75%	6/1/2028		9,935,000		8,022,512
Sarepta Therapeutics, Inc.†	1.25%	9/15/2027		8,600,000		9,868,500
Total						24,084,782
Building Materials 0.82%
Sika AG(b)	0.15%	6/5/2025	CHF	3,920,000		5,679,750
Chemicals 0.59%
Danimer Scientific, Inc.†	3.25%	12/15/2026	$	9,305,000		4,105,831
Commercial Services 6.28%
Block, Inc.	Zero Coupon	5/1/2026		15,675,000		13,033,763
Block, Inc.	0.125%	3/1/2025		7,310,000		6,780,025
Euronet Worldwide, Inc.	0.75%	3/15/2049		5,510,000		5,325,937
FTI Consulting, Inc.	2.00%	8/15/2023		4,060,000		7,557,690
Shift4 Payments, Inc.	Zero Coupon	12/15/2025		10,450,000		10,988,175
Total						43,685,590
Computers 5.26%
KBR, Inc.	2.50%	11/1/2023		3,560,000		8,287,680
Western Digital Corp.	1.50%	2/1/2024		29,070,000		28,256,040
Total						36,543,720
Electric 2.27%
CMS Energy Corp.†	3.375%	5/1/2028		5,100,000		5,089,800
Duke Energy Corp.†	4.125%	4/15/2026		5,325,000		5,285,063
Southern Co.†	3.875%	12/15/2025		5,335,000		5,401,687
Total						15,776,550

See Notes to Financial Statements. 27

Schedule of Investments (unaudited)(continued)

CONVERTIBLE FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Energy-Alternate Sources 0.88%
Green Plains, Inc.	2.25%	3/15/2027	$	5,286,000	$	6,147,618
Entertainment 1.03%
Marriott Vacations Worldwide Corp.†	3.25%	12/15/2027		7,530,000		7,164,795
Food 1.93%
Chefs’ Warehouse, Inc.†	2.375%	12/15/2028		6,560,000		6,517,335
Post Holdings, Inc.†	2.50%	8/15/2027		6,765,000		6,884,741
Total						13,402,076
Health Care-Products 6.35%
Exact Sciences Corp.†	2.00%	3/1/2030		7,265,000		9,150,268
Glaukos Corp.	2.75%	6/15/2027		5,834,000		7,821,206
Insulet Corp.	0.375%	9/1/2026		7,350,000		9,797,550
Lantheus Holdings, Inc.†	2.625%	12/15/2027		4,865,000		6,494,775
Natera, Inc.	2.25%	5/1/2027		4,370,000		6,183,550
TransMedics Group, Inc.†	1.50%	6/1/2028		4,458,000		4,683,575
Total						44,130,924
Internet 24.18%
Airbnb, Inc.	Zero Coupon	3/15/2026		15,375,000		13,353,188
Booking Holdings, Inc.	0.75%	5/1/2025		8,240,000		11,721,469
Farfetch Ltd. (United Kingdom)(a)	3.75%	5/1/2027		7,545,000		5,847,375
Fiverr International Ltd. (Israel)(a)	Zero Coupon	11/1/2025		12,655,000		10,740,095
MercadoLibre, Inc. (Uruguay)(a)	2.00%	8/15/2028		3,120,000		8,891,739
Okta, Inc.	0.125%	9/1/2025		30,320,000		28,015,680
Palo Alto Networks, Inc.	0.375%	6/1/2025		11,120,000		23,980,280
Sea Ltd. (Singapore)(a)	0.25%	9/15/2026		19,839,000		15,970,395
Sea Ltd. (Singapore)(a)	2.375%	12/1/2025		4,140,000		4,249,710
Shopify, Inc. (Canada)(a)	0.125%	11/1/2025		28,055,000		25,361,720
Uber Technologies, Inc.	Zero Coupon	12/15/2025		22,145,000		19,973,706
Total						168,105,357
Leisure Time 1.57%
Royal Caribbean Cruises Ltd.†	6.00%	8/15/2025		6,090,000		10,910,235
Lodging 0.77%
Wynn Macau Ltd. (Macau)†(a)	4.50%	3/7/2029		5,200,000		5,346,484
Miscellaneous Manufacturing 0.78%
Axon Enterprise, Inc.†	0.50%	12/15/2027		5,075,000		5,435,325

28 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CONVERTIBLE FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Oil & Gas 1.96%
Nabors Industries, Inc.†	1.75%	6/15/2029	$	5,395,000	$	3,816,963
Pioneer Natural Resources Co.	0.25%	5/15/2025		3,245,000		6,786,917
Transocean, Inc.†	4.625%	9/30/2029		1,600,000		3,036,960
Total						13,640,840
Pharmaceuticals 9.67%
Canopy Growth Corp.†(b)	4.25%	7/15/2023	CAD	60,650,000		42,946,455
Cytokinetics, Inc.†	3.50%	7/1/2027	$	4,125,000		4,163,672
Dexcom, Inc.†	0.375%	5/15/2028		6,375,000		6,359,062
Dexcom, Inc.	0.75%	12/1/2023		3,845,000		10,969,785
Neurocrine Biosciences, Inc.	2.25%	5/15/2024		2,300,000		2,795,650
Total						67,234,624
REITS 1.18%
HAT Holdings I LLC/HAT Holdings II LLC†	Zero Coupon	5/1/2025		8,753,000		8,211,189
Retail 1.02%
Cheesecake Factory, Inc.	0.375%	6/15/2026		8,500,000		7,065,625
Semiconductors 2.26%
Impinj, Inc.	1.125%	5/15/2027		3,325,000		3,892,245
ON Semiconductor Corp.†	0.50%	3/1/2029		11,210,000		11,841,123
Total						15,733,368
Software 9.47%
Alteryx, Inc.	1.00%	8/1/2026		17,345,000		14,613,163
Bentley Systems, Inc.	0.125%	1/15/2026		18,620,000		18,539,434
Bilibili, Inc. (China)(a)	1.25%	6/15/2027		3,910,000		3,929,550
Cerence, Inc.	3.00%	6/1/2025		7,580,000		7,993,555
HubSpot, Inc.	0.375%	6/1/2025		6,840,000		12,729,240
MongoDB, Inc.	0.25%	1/15/2026		5,320,000		8,021,230
Total						65,826,172
Telecommunications 2.82%
GDS Holdings Ltd. (China)(a)	2.00%	6/1/2025		19,780,000		19,621,760
Transportation 2.65%
CryoPort, Inc.†	0.75%	12/1/2026		13,180,000		10,445,150
ZTO Express Cayman, Inc. (China)†(a)	1.50%	9/1/2027		7,955,000		7,958,978
Total						18,404,128
Total Convertible Bonds (cost $616,686,516)						612,563,458

See Notes to Financial Statements. 29

Schedule of Investments (unaudited)(continued)

CONVERTIBLE FUND May 31, 2023

Investments	Dividend Rate	Shares		Fair Value
CONVERTIBLE PREFERRED STOCKS 6.75%
Commercial Banks 2.35%
Bank of America Corp.	7.25%		14,010	$	16,286,625
Electric: Utilities 1.59%
NextEra Energy, Inc.	6.219%		230,540		11,057,851
Health Care Equipment & Supplies 1.58%
Boston Scientific Corp.	5.50%		89,450		10,998,064
Metals & Mining 1.23%
RBC Bearings, Inc.	5.00%		85,455		8,546,364
Total Convertible Preferred Stocks (cost $48,440,024)					46,888,904
PREFERRED STOCKS 1.53%
Electric: Utilities
PG&E Corp. (cost $10,733,504)	5.50%		72,380		10,657,956
Total Long-Term Investments (cost $677,577,441)					671,820,013
		Principal Amount
SHORT-TERM INVESTMENTS 3.22%
REPURCHASE AGREEMENTS 3.22%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $25,159,900 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $22,818,850; proceeds: $22,373,005 (cost $22,371,389)		$	22,371,389		22,371,389
Total Investments in Securities 99.87% (cost $699,948,830)					694,191,402
Other Assets and Liabilities – Net(c) 0.13%					915,766
Net Assets 100.00%				$	695,107,168

CAD	Canadian Dollar.
CHF	Swiss Franc.
EUR	Euro.
REITS	Real Estate Investment Trusts.

*	Non-income producing security.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $191,117,966, which represents 27.49% of net assets.
(a)	Foreign security traded in U.S. dollars.
(b)	Investment in non-U.S. dollar denominated securities.
(c)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts as follows:

30 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

CONVERTIBLE FUND May 31, 2023

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Appreciation
Canadian dollar	Sell	State Street Bank and Trust	7/20/2023	60,921,000	$45,342,970	$44,928,659		$	414,311
Euro	Sell	Goldman Sachs	6/13/2023	263,000	283,524	281,296			2,228
Swiss franc	Sell	State Street Bank and Trust	8/23/2023	5,224,000	5,871,438	5,788,678			82,760
Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts								$	499,299

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Depreciation
Canadian dollar	Buy	State Street Bank and Trust	7/20/2023	1,789,000	$1,330,313	$1,319,371		$	(10,942	)
Euro	Sell	State Street Bank and Trust	6/13/2023	5,887,000	6,263,297	6,296,536			(33,239	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts								$	(44,181	)

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1		Level 2			Level 3		Total
Long-Term Investments
Common Stocks	$	1,709,695	$	—		$	—	$	1,709,695
Convertible Bonds		—		612,563,458			—		612,563,458
Convertible Preferred Stocks		—		46,888,904			—		46,888,904
Preferred Stocks		—		10,657,956			—		10,657,956
Short-Term Investments
Repurchase Agreements		—		22,371,389			—		22,371,389
Total	$	1,709,695	$	692,481,707		$	—	$	694,191,402
Other Financial Instruments
Forward Foreign Currency Exchange Contracts
Assets	$	—	$	499,299		$	—	$	499,299
Liabilities		—		(44,181	)		—		(44,181	)
Total	$	—	$	455,118		$	—	$	455,118

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Financial Statements. 31

Schedule of Investments (unaudited)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 112.15%
ASSET-BACKED SECURITIES 13.62%
Automobiles 4.09%
AmeriCredit Automobile Receivables Trust Series 2022-2 Class A2A		4.20%		12/18/2025	$	7,521,936	$	7,455,666
Capital One Prime Auto Receivables Trust Series 2022-1 Class A2		2.71%		6/16/2025		9,090,966		8,974,511
CarMax Auto Owner Trust Series 2022-2 Class A2A		2.81%		5/15/2025		6,786,683		6,733,605
Flagship Credit Auto Trust Series 2022-3 Class A3†		4.55%		4/15/2027		9,170,000		9,023,682
Flagship Credit Auto Trust Series 2023-1 Class A3†		5.01%		8/16/2027		6,510,000		6,439,654
GLS Auto Receivables Issuer Trust Series 2023-1A Class A2†		5.98%		8/17/2026		7,995,000		7,981,923
GM Financial Automobile Leasing Trust Series 2022-2 Class A2		2.93%		10/21/2024		4,301,491		4,262,006
GM Financial Automobile Leasing Trust Series 2023-2 Class A3		5.05%		7/20/2026		7,900,000		7,880,549
GM Financial Automobile Leasing Trust Series 2023-2 Class B		5.54%		5/20/2027		7,300,000		7,277,830
Santander Consumer Auto Receivables Trust Series 2020-BA Class F†		7.03%		8/15/2028		5,049,000		5,053,946
Santander Drive Auto Receivables Trust Series 2022-5 Class B		4.43%		3/15/2027		7,854,000		7,699,860
Santander Drive Auto Receivables Trust Series 2022-6 Class B		4.72%		6/15/2027		13,900,000		13,641,955
Santander Drive Auto Receivables Trust Series 2022-6 Class C		4.96%		11/15/2028		7,130,000		7,003,966
Westlake Automobile Receivables Trust Series 2020-3A Class E†		3.34%		6/15/2026		3,605,000		3,465,958
Westlake Automobile Receivables Trust Series 2023-1A Class A3†		5.21%		1/18/2028		8,235,000		8,185,181
Total								111,080,292
Credit Card 1.41%
BA Credit Card Trust Series 2022-A2 Class A2		5.00%		4/15/2028		7,100,000		7,141,033
Capital One Multi-Asset Execution Trust Series 2005-B3 Class B3	5.81% (3 mo. USD LIBOR + 0.55%		)#	5/15/2028		7,533,000		7,427,770
Continental Finance Credit Card ABS Master Trust Series 2020-1A Class A†		2.24%		12/15/2028		8,470,000		8,079,663
Discover Card Execution Note Trust Series 2022-A3 Class A3		3.56%		7/15/2027		10,000,000		9,741,647
Discover Card Execution Note Trust Series 2022-A4 Class A		5.03%		10/15/2027		6,015,000		6,046,331
Total								38,436,444

32 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other 8.11%
ACRES Commercial Realty Ltd. Series 2021-FL2 Class A†		6.508% (1 mo. USD LIBOR + 1.40%	)#	1/15/2037	$	8,035,000	$	7,804,163
Affirm Asset Securitization Trust Series 2023-A Class 1A†		6.61%		1/18/2028		6,740,000		6,725,197
Apidos CLO XXVI Series 2017-26A Class A2R†		6.762% (3 mo. USD LIBOR + 1.50%	)#	7/18/2029		1,680,000		1,641,523
Apidos CLO XXXV Series 2021-35A Class A†		6.30% (3 mo. USD LIBOR + 1.05%	)#	4/20/2034		2,000,000		1,953,065
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class A†		6.207% (1 mo. USD LIBOR + 1.10%	)#	5/15/2036		7,330,000		7,167,896
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class AS†		6.507% (1 mo. USD LIBOR + 1.40%	)#	5/15/2036		5,360,000		5,131,479
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL4 Class A†		6.457% (1 mo. USD LIBOR + 1.35%	)#	11/15/2036		10,549,000		10,329,517
Ares XL CLO Ltd. Series 2016-40A Class A1RR†		6.13% (3 mo. USD LIBOR + 0.87%	)#	1/15/2029		1,904,292		1,887,229
Avant Loans Funding Trust Series 2022-REV1 Class A†		6.54%		9/15/2031		8,105,000		8,030,428
Bain Capital Credit CLO Series 2019-2A Class AR†		6.36% (3 mo. USD LIBOR + 1.10%	)#	10/17/2032		4,800,000		4,695,969
Ballyrock CLO Ltd. Series 2023-23A Class A1†	6.971% (3 mo. USD Term SOFR + 1.98%		)#	4/25/2036		1,750,000		1,753,114
Barings CLO Ltd. Series 2019-3A Class A1R†		6.32% (3 mo. USD LIBOR + 1.07%	)#	4/20/2031		2,220,000		2,188,726
BlueMountain CLO XXXI Ltd. Series 2021-31A Class A1†		6.415% (3 mo. USD LIBOR + 1.15%	)#	4/19/2034		4,980,000		4,861,974
Carlyle Global Market Strategies CLO Ltd. Series 2014-5A Class A1RR†		6.40% (3 mo. USD LIBOR + 1.14%	)#	7/15/2031		8,099,420		8,006,732
Carlyle Global Market Strategies CLO Ltd. Series 2015-1A Class AR3†		6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2031		3,132,656		3,095,051

See Notes to Financial Statements. 33

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Dryden 61 CLO Ltd. Series 2018-61A Class A1R†		6.25% (3 mo. USD LIBOR + 0.99%	)#	1/17/2032	$	3,710,000	$	3,653,545
Dryden Senior Loan Fund Series 2017-47A Class BR†		6.73% (3 mo. USD LIBOR + 1.47%	)#	4/15/2028		5,770,000		5,663,720
Eaton Vance CLO Ltd. Series 2013-1A Class A13R†		6.51% (3 mo. USD LIBOR + 1.25%	)#	1/15/2034		4,198,000		4,118,219
Elmwood CLO VIII Ltd. Series 2021-1A Class A1†		6.49% (3 mo. USD LIBOR + 1.24%	)#	1/20/2034		3,240,000		3,191,441
Galaxy XXI CLO Ltd. Series 2015-21A Class AR†		6.27% (3 mo. USD LIBOR + 1.02%	)#	4/20/2031		485,000		479,059
HGI CRE CLO Ltd. Series 2021-FL2 Class B†		6.605% (1 mo. USD LIBOR + 1.50%	)#	9/17/2036		5,490,000		5,257,418
KKR CLO Ltd. Series 29A Class A†		6.46% (3 mo. USD LIBOR + 1.20%	)#	1/15/2032		2,700,000		2,674,998
Lending Funding Trust Series 2020-2A Class A†		2.32%		4/21/2031		5,317,000		4,761,799
Lendmark Funding Trust Series 2021-1A Class C†		3.41%		11/20/2031		2,095,000		1,729,240
Lendmark Funding Trust Series 2021-2A Class B†		2.37%		4/20/2032		6,465,000		5,356,348
LoanCore Issuer Ltd. Series 2022-CRE7 Class A†	6.456% (30 day USD SOFR Average + 1.55%		)#	1/17/2037		3,800,000		3,735,678
Madison Park Funding XXIV Ltd. Series 2016-24A Class BR†		7.06% (3 mo. USD Term SOFR + 2.01%	)#	10/20/2029		5,300,000		5,213,324
Magnetite VII Ltd. Series 2012-7A Class A1R2†		6.06% (3 mo. USD LIBOR + 0.80%	)#	1/15/2028		4,472,308		4,435,411
Marble Point CLO XVII Ltd. Series 2020-1A Class A†		6.55% (3 mo. USD LIBOR + 1.30%	)#	4/20/2033		2,574,058		2,525,151
Mariner Finance Issuance Trust Series 2021-AA Class D†		3.83%		3/20/2036		2,420,000		2,018,853
Marlette Funding Trust Series 2020-2A Class D†		4.65%		9/16/2030		3,660,117		3,591,299
Marlette Funding Trust Series 2022-3 Class B†		5.95%		11/15/2032		5,844,000		5,804,223
ME Funding LLC Series 2019-1 Class A2†		6.448%		7/30/2049		7,739,300		7,562,269
MF1 LLC Series 2022-FL9 Class A†		7.223% (1 mo. USD Term SOFR + 2.15%	)#	6/19/2037		4,295,000		4,281,471
MF1 Ltd. Series 2022-FL8 Class A†	6.273% (30 day USD SOFR Average + 1.35%		)#	2/19/2037		4,190,000		4,092,333
Mountain View CLO LLC Series 2017-1A Class AR†		6.35% (3 mo. USD LIBOR + 1.09%	)#	10/16/2029		1,788,575		1,775,951
Newark BSL CLO 1 Ltd. Series 2016-1A Class A1R†		6.44% (3 mo. USD Term SOFR + 1.36%	)#	12/21/2029		5,834,528		5,788,801

34 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
OCP CLO Ltd. Series 2019-17A Class A1R†		6.29% (3 mo. USD LIBOR + 1.04%	)#	7/20/2032	$	4,680,000	$	4,598,744
Octagon Investment Partners XIV Ltd. Series 2012-1A Class AARR†		6.21% (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		3,374,979		3,348,050
OneMain Financial Issuance Trust Series 2018-2A Class A†		3.57%		3/14/2033		4,579,045		4,506,640
OneMain Financial Issuance Trust Series 2021-3A Class A†		5.94%		5/15/2034		8,000,000		8,056,894
Palmer Square Loan Funding Ltd. Series 2021-1A Class A1†		6.15% (3 mo. USD LIBOR + 0.90%	)#	4/20/2029		3,744,064		3,716,990
Post Road Equipment Finance Series 2021-1 Class A2†		4.88%		11/15/2028		6,226,000		6,062,271
Post Road Equipment Finance Series 2021-1 Class D†		1.69%		11/15/2027		4,190,000		4,002,706
RAD CLO 6 Ltd. Series 2019-6A Class A1†		6.63% (3 mo. USD LIBOR + 1.38%	)#	1/20/2033		4,650,000		4,599,780
SCF Equipment Leasing LLC Series 2019-2A Class B†		2.76%		8/20/2026		3,055,000		2,963,720
SCF Equipment Leasing LLC Series 2021-1A Class C†		1.54%		10/21/2030		4,025,000		3,606,209
SEB Funding LLC Series 2021-1A Class A2†		4.969%		1/30/2052		3,117,188		2,756,889
Sunrun Demeter Issuer LLC Series 2021-2A Class A†		2.27%		1/30/2057		1,988,869		1,591,620
TCI-Flatiron CLO Ltd. Series 2017-1A Class AR†		6.29% (3 mo. USD LIBOR + 0.96%	)#	11/18/2030		1,924,826		1,907,503
TCW CLO Ltd. Series 2022 1A Class A1†	6.411% (3 mo. USD Term SOFR + 1.34%		)#	4/22/2033		1,950,000		1,917,337
Upstart Securitization Trust Series 2021-2 Class B†		1.75%		6/20/2031		3,628,000		3,528,351
Total								220,146,318
Student Loan 0.01%
Towd Point Asset Trust Series 2018-SL1 Class A†		5.738% (1 mo. USD LIBOR + 0.60%	)#	1/25/2046		257,769		256,325
Total Asset-Backed Securities (cost $376,722,223)								369,919,379
CORPORATE BONDS 37.69%
Agriculture 0.95%
BAT Capital Corp.		3.222%		8/15/2024		12,736,000		12,365,043
Cargill, Inc. †		4.00%		6/22/2032		5,206,000		4,866,581
Philip Morris International, Inc.		5.625%		11/17/2029		6,254,000		6,412,088
Viterra Finance BV (Netherlands)†(a)		4.90%		4/21/2027		2,226,000		2,135,053
Total								25,778,765

See Notes to Financial Statements. 35

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Airlines 0.11%
British Airways Pass-Through Trust Series 2020-1 Class A (United Kingdom)†(a)		4.25%		5/15/2034	$	3,116,400	$	2,903,047
Banks 11.63%
ABN AMRO Bank NV (Netherlands)†(a)		3.324% (5 yr. CMT + 1.90%	)#	3/13/2037		2,400,000		1,836,598
Bank of America Corp.		1.658% (SOFR + 0.91%	)#	3/11/2027		4,902,000		4,429,800
Bank of America Corp.		2.299% (SOFR + 1.22%	)#	7/21/2032		7,033,000		5,610,052
Bank of America Corp.		2.687% (SOFR + 1.32%	)#	4/22/2032		12,643,000		10,456,589
Bank of America Corp.	3.458% (3 mo. USD Term SOFR + 1.23%		)#	3/15/2025		5,910,000		5,797,258
Bank of America Corp.	3.593% (3 mo. USD Term SOFR + 1.63%		)#	7/21/2028		4,493,000		4,191,912
Bank of America Corp.	3.97% (3 mo. USD Term SOFR + 1.33%		)#	3/5/2029		15,480,000		14,615,789
Bank of America Corp.		4.00%		1/22/2025		830,000		811,168
Bank of New York Mellon Corp.		4.596% (SOFR + 1.76%	)#	7/26/2030		4,099,000		3,993,286
Bank of New York Mellon Corp.		4.967% (SOFR + 1.61%	)#	4/26/2034		4,377,000		4,354,398
BNG Bank NV (Netherlands)†(a)		3.50%		5/19/2028		21,534,000		21,020,738
BNP Paribas SA (France)†(a)		4.375% (5 yr. USD Swap + 1.48%	)#	3/1/2033		4,175,000		3,820,604
Citigroup, Inc.		2.666% (SOFR + 1.15%	)#	1/29/2031		11,156,000		9,494,413
Citigroup, Inc.	3.352% (3 mo. USD Term SOFR + 1.16%		)#	4/24/2025		4,185,000		4,091,455
Citigroup, Inc.	3.887% (3 mo. USD Term SOFR + 1.82%		)#	1/10/2028		6,564,000		6,252,099
Citigroup, Inc.	3.98% (3 mo. USD Term SOFR + 1.60%		)#	3/20/2030		10,818,000		10,038,996
Citigroup, Inc.		4.14% (SOFR + 1.37%	)#	5/24/2025		1,616,000		1,590,530
Danske Bank AS (Denmark)†(a)		3.773% (1 yr. CMT + 1.45%	)#	3/28/2025		7,332,000		7,161,670
Goldman Sachs Group, Inc.		2.383% (SOFR + 1.25%	)#	7/21/2032		19,561,000		15,764,546
Goldman Sachs Group, Inc.	3.272% (3 mo. USD Term SOFR + 1.46%		)#	9/29/2025		8,762,000		8,477,047

36 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
HSBC Holdings PLC (United Kingdom)(a)		3.803% (3 mo. USD LIBOR + 1.21%	)#	3/11/2025	$	4,949,000	$	4,857,815
JPMorgan Chase & Co.	2.58% (3 mo. USD Term SOFR + 1.25%		)#	4/22/2032		6,895,000		5,743,983
JPMorgan Chase & Co.		2.963% (SOFR + 1.26%	)#	1/25/2033		9,691,000		8,206,971
JPMorgan Chase & Co.	3.782% (3 mo. USD Term SOFR + 1.60%		)#	2/1/2028		24,978,000		23,772,714
Lloyds Banking Group PLC (United Kingdom)(a)		3.90%		3/12/2024		6,219,000		6,121,020
M&T Bank Corp.		5.053% (SOFR + 1.85%	)#	1/27/2034		6,395,000		5,906,130
Macquarie Bank Ltd. (Australia)†(a)		3.052% (5 yr. CMT + 1.70%	)#	3/3/2036		4,333,000		3,274,633
Macquarie Group Ltd. (Australia)†(a)		4.654% (3 mo. USD LIBOR + 1.73%	)#	3/27/2029		7,544,000		7,249,432
Mitsubishi UFJ Financial Group, Inc. (Japan)(a)		5.541% (1 yr. CMT + 1.50%	)#	4/17/2026		3,099,000		3,095,281
Morgan Stanley		2.239% (SOFR + 1.18%	)#	7/21/2032		10,343,000		8,259,358
Morgan Stanley		2.484% (SOFR + 1.36%	)#	9/16/2036		2,915,000		2,202,559
Morgan Stanley	4.431% (3 mo. USD Term SOFR + 1.63%		)#	1/23/2030		11,630,000		11,174,372
Morgan Stanley		5.05% (SOFR + 1.30%	)#	1/28/2027		3,386,000		3,376,890
Royal Bank of Canada (Canada)(a)		6.00%		11/1/2027		6,626,000		6,869,226
State Street Corp.		4.164% (SOFR + 1.73%	)#	8/4/2033		9,020,000		8,392,732
Toronto-Dominion Bank (Canada)(a)		4.456%		6/8/2032		5,675,000		5,370,085
U.S. Bancorp		4.839% (SOFR + 1.60%	)#	2/1/2034		5,906,000		5,544,789
U.S. Bancorp		4.967% (SOFR + 2.11%	)#	7/22/2033		6,556,000		5,943,570
UBS AG (Switzerland)(a)		5.125%		5/15/2024		1,494,000		1,472,098
UBS Group AG (Switzerland)†(a)		1.364% (1 yr. CMT + 1.08%	)#	1/30/2027		4,618,000		4,066,224
UBS Group AG (Switzerland)†(a)		1.494% (1 yr. CMT + 0.85%	)#	8/10/2027		5,352,000		4,617,547
UBS Group AG (Switzerland)†(a)		5.711% (1 yr. CMT + 1.55%	)#	1/12/2027		9,160,000		9,088,235

See Notes to Financial Statements. 37

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Wells Fargo & Co.	2.188% (SOFR + 2.00%	)#	4/30/2026	$	4,559,000	$	4,291,503
Wells Fargo & Co.	2.393% (SOFR + 2.10%	)#	6/2/2028		6,505,000		5,820,520
Wells Fargo & Co.	3.35% (SOFR + 1.50%	)#	3/2/2033		8,807,000		7,571,097
Wells Fargo & Co.	5.389% (SOFR + 2.02%	)#	4/24/2034		4,380,000		4,388,373
Wells Fargo Bank NA	5.85%		2/1/2037		5,225,000		5,345,544
Total							315,831,649
Beverages 0.37%
Brown-Forman Corp.	4.75%		4/15/2033		4,911,000		4,926,421
Constellation Brands, Inc.	3.15%		8/1/2029		5,786,000		5,225,560
Total							10,151,981
Biotechnology 0.31%
Amgen, Inc.	5.25%		3/2/2030		7,272,000		7,331,071
Baxalta, Inc.	4.00%		6/23/2025		1,114,000		1,088,302
Total							8,419,373
Chemicals 0.33%
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		10,121,000		9,031,840
Commercial Services 0.22%
Global Payments, Inc.	4.00%		6/1/2023		5,933,000		5,933,000
Computers 0.29%
International Business Machines Corp.(b)	1.50%		5/23/2029	EUR	4,122,000		3,947,782
International Business Machines Corp.(b)	3.75%		2/6/2035	EUR	3,617,000		3,789,827
Total							7,737,609
Cosmetics/Personal Care 0.15%
Haleon U.S. Capital LLC	3.625%		3/24/2032	$	4,378,000		3,932,140
Diversified Financial Services 2.07%
Aircastle Ltd.†	2.85%		1/26/2028		5,197,000		4,447,997
American Express Co.	4.42% (SOFR + 1.76%	)#	8/3/2033		4,232,000		4,003,981
Aviation Capital Group LLC†	1.95%		1/30/2026		4,639,000		4,146,109
Avolon Holdings Funding Ltd. (Ireland)†(a)	2.125%		2/21/2026		9,376,000		8,253,236
Avolon Holdings Funding Ltd. (Ireland)†(a)	5.25%		5/15/2024		4,460,000		4,392,086
Avolon Holdings Funding Ltd. (Ireland)†(a)	6.375%		5/4/2028		6,451,000		6,308,286

38 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Diversified Financial Services (continued)
BlackRock, Inc.	4.75%		5/25/2033	$	11,118,000	$	11,008,366
Intercontinental Exchange, Inc.	4.00%		9/15/2027		8,727,000		8,579,540
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.50%		3/15/2027		940,000		895,941
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.875%		4/15/2045		648,000		524,457
Park Aerospace Holdings Ltd. (Ireland)†(a)	5.50%		2/15/2024		3,677,000		3,638,090
Total							56,198,089
Electric 4.37%
AEP Texas, Inc.	5.40%		6/1/2033		3,244,000		3,251,685
AES Corp.†	3.95%		7/15/2030		2,423,000		2,174,990
Alfa Desarrollo SpA (Chile)†(a)	4.55%		9/27/2051		2,678,728		1,940,082
American Transmission Systems, Inc.†	2.65%		1/15/2032		10,360,000		8,605,803
Baltimore Gas & Electric Co.	4.55%		6/1/2052		4,383,000		3,897,314
Constellation Energy Generation LLC	6.25%		10/1/2039		4,620,000		4,800,781
DTE Electric Co.	5.40%		4/1/2053		6,075,000		6,182,302
DTE Energy Co.	4.22%	(c)	11/1/2024		1,603,000		1,577,399
Duke Energy Corp.	4.50%		8/15/2032		8,939,000		8,455,048
Duke Energy Indiana LLC	5.40%		4/1/2053		2,849,000		2,833,734
Electricite de France SA (France)†(a)	6.25%		5/23/2033		8,289,000		8,403,183
Enel Finance International NV(b)	0.50%		6/17/2030	EUR	6,832,000		5,795,524
Entergy Corp.	0.90%		9/15/2025	$	8,007,000		7,235,890
IPALCO Enterprises, Inc.	4.25%		5/1/2030		10,000,000		9,067,377
Kentucky Utilities Co.	5.45%		4/15/2033		7,221,000		7,399,192
Minejesa Capital BV (Netherlands)†(a)	4.625%		8/10/2030		4,161,000		3,737,947
NextEra Energy Capital Holdings, Inc.	5.961% (SOFR + 1.02%	)#	3/21/2024		6,588,000		6,589,180
Oglethorpe Power Corp.	5.95%		11/1/2039		3,451,000		3,420,852
Ohio Edison Co.	8.25%		10/15/2038		2,419,000		2,915,344
Oklahoma Gas & Electric Co.	5.40%		1/15/2033		3,291,000		3,368,742
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia)(a)	5.45%		5/21/2028		6,375,000		6,399,193
Southern Co.	4.475%	(c)	8/1/2024		6,526,000		6,431,749
Wisconsin Power & Light Co.	3.95%		9/1/2032		4,602,000		4,267,523
Total							118,750,834
Electronics 0.20%
Honeywell International, Inc.(b)	4.125%		11/2/2034	EUR	5,039,000		5,476,714

See Notes to Financial Statements. 39

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Engineering & Construction 0.11%
Cellnex Finance Co. SA (Spain)†(a)	3.875%	7/7/2041	$	4,063,000	$	2,988,572
Entertainment 0.32%
Warnermedia Holdings, Inc.	3.428%	3/15/2024		8,741,000		8,559,428
Food 0.44%
Kellogg Co.	5.25%	3/1/2033		11,780,000		11,944,167
Gas 1.24%
CenterPoint Energy Resources Corp.	1.75%	10/1/2030		6,270,000		5,052,495
CenterPoint Energy Resources Corp.	4.40%	7/1/2032		5,266,000		5,069,575
East Ohio Gas Co.†	1.30%	6/15/2025		8,006,000		7,375,747
National Fuel Gas Co.	3.95%	9/15/2027		10,335,000		9,686,093
NiSource, Inc.	2.95%	9/1/2029		3,062,000		2,700,394
Southwest Gas Corp.	4.05%	3/15/2032		4,256,000		3,840,143
Total						33,724,447
Health Care-Products 0.58%
GE HealthCare Technologies, Inc.†	5.65%	11/15/2027		10,942,000		11,169,435
Revvity, Inc.	0.85%	9/15/2024		4,974,000		4,687,306
Total						15,856,741
Health Care-Services 2.01%
Centene Corp.	2.45%	7/15/2028		9,000,000		7,741,170
Centene Corp.	3.375%	2/15/2030		12,606,000		10,880,743
Elevance Health, Inc.	2.25%	5/15/2030		7,831,000		6,618,267
Elevance Health, Inc.	5.125%	2/15/2053		2,979,000		2,858,360
Elevance Health, Inc.	5.50%	10/15/2032		7,501,000		7,758,422
Humana, Inc.	1.35%	2/3/2027		5,546,000		4,870,502
Humana, Inc.	5.875%	3/1/2033		7,500,000		7,881,629
UnitedHealth Group, Inc.	4.00%	5/15/2029		6,270,000		6,066,832
Total						54,675,925
Insurance 0.90%
Assurant, Inc.	2.65%	1/15/2032		1,595,000		1,211,808
F&G Global Funding†	2.30%	4/11/2027		3,996,000		3,577,104
GA Global Funding Trust†	3.85%	4/11/2025		7,677,000		7,360,291
Metropolitan Life Global Funding I†	4.05%	8/25/2025		1,536,000		1,491,041
Metropolitan Life Global Funding I†	5.15%	3/28/2033		3,640,000		3,634,705
New York Life Global Funding†	4.55%	1/28/2033		7,387,000		7,202,050
Total						24,476,999

40 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Internet 1.11%
Amazon.com, Inc.	4.70%	12/1/2032	$	15,019,000	$	15,237,138
Netflix, Inc.	5.875%	11/15/2028		5,494,000		5,699,553
Netflix, Inc.	6.375%	5/15/2029		2,765,000		2,933,781
Prosus NV (Netherlands)†(a)	3.257%	1/19/2027		6,940,000		6,302,206
Total						30,172,678
Machinery-Diversified 0.38%
nVent Finance Sarl (Luxembourg)(a)	4.55%	4/15/2028		10,940,000		10,336,263
Media 0.20%
FactSet Research Systems, Inc.	3.45%	3/1/2032		6,246,000		5,370,374
Mining 0.24%
Corp. Nacional del Cobre de Chile (Chile)†(a)	5.125%	2/2/2033		6,510,000		6,483,883
Multi-National 0.71%
Nordic Investment Bank (Finland)(a)	2.875%	7/19/2023		19,431,000		19,372,110
Oil & Gas 1.59%
Continental Resources, Inc.	4.90%	6/1/2044		4,881,000		3,671,979
Continental Resources, Inc.†	5.75%	1/15/2031		9,000,000		8,580,795
Diamondback Energy, Inc.	3.50%	12/1/2029		9,890,000		8,941,927
Eni SpA (Italy)†(a)	5.70%	10/1/2040		4,710,000		4,246,779
EQT Corp.	7.00%	2/1/2030		10,000,000		10,360,500
Occidental Petroleum Corp.	6.45%	9/15/2036		1,786,000		1,819,077
Ovintiv, Inc.	6.50%	2/1/2038		5,605,000		5,557,585
Total						43,178,642
Oil & Gas Services 0.33%
Halliburton Co.	7.45%	9/15/2039		4,124,000		4,727,576
NOV, Inc.	3.60%	12/1/2029		4,547,000		4,074,189
Total						8,801,765
Pharmaceuticals 1.99%
Bayer Corp.†	6.65%	2/15/2028		2,728,000		2,890,341
Cigna Group	2.40%	3/15/2030		10,065,000		8,576,861
Cigna Group	4.375%	10/15/2028		1,515,000		1,477,400
CVS Health Corp.	1.75%	8/21/2030		5,105,000		4,106,655
CVS Health Corp.	3.25%	8/15/2029		12,163,000		11,005,461
CVS Health Corp.	5.05%	3/25/2048		4,060,000		3,670,574
Merck & Co., Inc.	4.50%	5/17/2033		10,820,000		10,801,106
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(a)	4.75%	5/19/2033		11,489,000		11,540,551
Total						54,068,949

See Notes to Financial Statements. 41

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Pipelines 1.35%
Abu Dhabi Crude Oil Pipeline LLC (United Arab Emirates)†(a)	4.60%	11/2/2047	$	6,831,000	$	6,339,817
Eastern Gas Transmission & Storage, Inc.	3.00%	11/15/2029		7,044,000		6,262,169
EIG Pearl Holdings Sarl (Luxembourg)†(a)	3.545%	8/31/2036		9,268,000		7,901,674
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates)†(a)	3.25%	9/30/2040		9,847,000		7,718,178
Kinder Morgan Energy Partners LP	4.25%	9/1/2024		4,040,000		3,945,684
NGPL PipeCo LLC†	3.25%	7/15/2031		3,741,000		3,095,091
Sabine Pass Liquefaction LLC	5.625%	3/1/2025		1,473,000		1,473,013
Total						36,735,626
REITS 0.92%
American Tower Corp.	2.95%	1/15/2025		1,480,000		1,422,353
American Tower Corp.	3.80%	8/15/2029		9,000,000		8,307,792
American Tower Corp.	5.55%	7/15/2033		3,255,000		3,277,778
Crown Castle, Inc.	2.10%	4/1/2031		4,000,000		3,225,501
Crown Castle, Inc.	3.30%	7/1/2030		10,000,000		8,840,267
Total						25,073,691
Retail 0.44%
7-Eleven, Inc.†	0.80%	2/10/2024		5,815,000		5,608,699
Lowe’s Cos., Inc.	5.00%	4/15/2033		6,274,000		6,218,321
Total						11,827,020
Semiconductors 0.12%
Broadcom, Inc.†	4.15%	4/15/2032		3,716,000		3,346,909
Software 0.76%
Oracle Corp.	2.875%	3/25/2031		4,450,000		3,785,287
Oracle Corp.	5.375%	7/15/2040		627,000		598,200
Oracle Corp.	6.125%	7/8/2039		668,000		686,062
Oracle Corp.	6.25%	11/9/2032		12,360,000		13,078,664
ServiceNow, Inc.	1.40%	9/1/2030		3,124,000		2,487,227
Total						20,635,440
Telecommunications 0.95%
AT&T, Inc.	4.30%	2/15/2030		10,197,000		9,764,353
T-Mobile USA, Inc.	3.50%	4/15/2025		2,727,000		2,645,124
T-Mobile USA, Inc.	3.875%	4/15/2030		14,500,000		13,457,965
Total						25,867,442
Total Corporate Bonds (cost $1,063,347,557)						1,023,642,112

42 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
FLOATING RATE LOANS(d) 1.17%
Diversified Financial Services 0.20%
Avolon TLB Borrower 1 (US) LLC Term Loan B3		6.898% (1 mo. USD LIBOR + 1.75%	)	1/15/2025	$	5,285,722	$	5,272,190
Entertainment 0.10%
Stars Group Holdings BV 2018 USD Incremental Term Loan (Netherlands)(a)		7.409% (3 mo. USD LIBOR + 2.25%	)	7/21/2026		2,571,867		2,565,001
Lodging 0.46%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%		)	6/22/2026		12,596,033		12,546,026
Media 0.41%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% - 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%		) )	4/30/2025		11,249,038		11,239,476
Total Floating Rate Loans (cost $31,757,843)								31,622,693
FOREIGN GOVERNMENT OBLIGATIONS(a) 3.59%
Canada 1.04%
Province of Quebec		3.625%		4/13/2028		28,806,000		28,211,226
Japan 0.47%
Japan International Cooperation Agency		4.00%		5/23/2028		13,034,000		12,846,527
Mexico 0.27%
Mexico Government International Bonds		4.875%		5/19/2033		7,745,000		7,412,358
Panama 0.25%
Panama Government International Bonds		2.252%		9/29/2032		8,627,000		6,646,496
Saudi Arabia 0.23%
Saudi Government International Bonds†		4.875%		7/18/2033		6,286,000		6,343,586
Sweden 1.33%
Kommuninvest I Sverige AB†		4.25%		12/10/2025		14,166,000		14,115,905
Svensk Exportkredit AB		4.00%		7/15/2025		22,175,000		21,942,487
Total								36,058,392
Total Foreign Government Obligations (cost $98,552,381)								97,518,585

See Notes to Financial Statements. 43

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

	Interest		Maturity	Principal		Fair
Investments	Rate		Date	Amount		Value
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.62%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 001 Class XA	2.112%	#(e)	2/25/2032	$	9,843,723	$	739,971
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 145 Class A2	2.58%		5/25/2032		9,235,000		8,032,589
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series G07 Class A2	3.123%	#(e)	8/25/2032		8,934,000		8,104,492
Total Government Sponsored Enterprises Collateralized Mortgage Obligations (cost $16,757,867)							16,877,052
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS 30.66%
Federal Home Loan Bank	5.06%	#	8/2/2023		42,175,000		42,175,121
Federal Home Loan Bank	5.08% (SOFR + 2.00%	)#	9/19/2023		39,745,000		39,774,584
Federal Home Loan Bank	5.11%	#	8/29/2023		44,125,000		44,125,869
Federal Home Loan Mortgage Corp.	2.50%		11/1/2050 - 5/1/2052		12,989,762		11,213,365
Federal Home Loan Mortgage Corp.	3.50%		2/1/2046		2,861,043		2,690,998
Federal Home Loan Mortgage Corp.	4.50%		8/1/2052		8,163,577		8,010,625
Federal Home Loan Mortgage Corp.	5.00%		7/1/2052 - 8/1/2052		17,144,579		17,056,965
Federal National Mortgage Association	2.00%		6/1/2051 - 11/1/2051		18,495,715		15,288,053
Federal National Mortgage Association	2.50%		8/1/2050 - 5/1/2052		104,151,156		90,260,360
Federal National Mortgage Association	3.00%		12/1/2048 - 1/1/2051		19,524,290		17,691,362
Federal National Mortgage Association	3.50%		7/1/2045 - 4/1/2052		10,580,800		9,845,137
Federal National Mortgage Association	4.00%		5/1/2052 - 6/1/2052		13,022,988		12,440,732
Federal National Mortgage Association	5.00%		7/1/2052 - 8/1/2052		12,241,653		12,194,697
Government National Mortgage Association(f)	3.00%		TBA		42,491,000		38,284,225
Government National Mortgage Association(f)	3.50%		TBA		4,700,000		4,364,207
Government National Mortgage Association(f)	4.00%		TBA		15,367,000		14,619,059
Government National Mortgage Association(f)	4.50%		TBA		30,589,000		29,737,646
Government National Mortgage Association(f)	5.00%		TBA		79,295,000		78,309,548
Government National Mortgage Association(f)	5.50%		TBA		54,873,000		54,834,418

44 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS (continued)
Government National Mortgage Association(f)		6.00%		TBA	$	58,739,000	$	59,275,912
Government National Mortgage Association(f)		6.50%		TBA		41,801,000		42,503,126
Uniform Mortgage-Backed Security(f)		2.00%		TBA		13,069,000		10,764,220
Uniform Mortgage-Backed Security(f)		3.00%		TBA		15,211,000		13,518,479
Uniform Mortgage-Backed Security(f)		4.00%		TBA		9,487,000		8,969,662
Uniform Mortgage-Backed Security(f)		4.50%		TBA		9,484,000		9,191,145
Uniform Mortgage-Backed Security(f)		5.00%		TBA		41,789,000		41,436,299
Uniform Mortgage-Backed Security(f)		5.50%		TBA		62,603,000		62,723,766
Uniform Mortgage-Backed Security(f)		6.00%		TBA		27,609,000		27,930,386
Uniform Mortgage-Backed Security(f)		6.50%		TBA		12,946,000		13,244,365
Total Government Sponsored Enterprises Pass-Throughs (cost $840,011,033)								832,474,331
MUNICIPAL BONDS 0.38%
Government 0.24%
New York City Transitional Finance Authority Future Tax Secured Revenue		2.69%		5/1/2033		7,952,000		6,692,703
Natural Gas 0.14%
Texas Natural Gas Securitization Finance Corp.		5.102%		4/1/2035		3,619,000		3,713,444
Total Municipal Bonds (cost $11,905,899)								10,406,147
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 7.27%
Angel Oak Mortgage Trust Series 2020-1 Class A1†		2.466%	#(e)	12/25/2059		143,291		134,576
Angel Oak Mortgage Trust Series 2021-3 Class A1†		1.068%	#(e)	5/25/2066		2,195,158		1,818,437
Angel Oak Mortgage Trust Series 2022-3 Class A1†		4.00%		1/25/2067		3,154,293		2,957,781
Bank Series 2021-BN35 Class A5		2.285%		6/15/2064		2,429,000		1,976,526
Bank Series 2022-BNK44 Class A5		5.746%	#(e)	11/15/2055		6,500,000		6,821,243
Bank Series 2022-BNK44 Class AS		5.746%	#(e)	11/15/2055		3,831,000		3,796,105
BBCMS Mortgage Trust Series 2019-BWAY Class A†	6.13% (1 mo. USD Term SOFR + 1.07%		)#	11/15/2034		1,410,000		1,162,394
BBCMS Mortgage Trust Series 2019-BWAY Class B†	6.484% (1 mo. USD Term SOFR + 1.42%		)#	11/15/2034		614,000		493,341
BHMS Mortgage Trust Series 2018-ATLS Class A†		6.357% (1 mo. USD LIBOR + 1.25%	)#	7/15/2035		3,060,000		2,977,621

See Notes to Financial Statements. 45

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
BMO Mortgage Trust Series 2023-C5 Class A4(g)		5.494%		6/15/2056	$	5,468,000	$	5,589,099
BRAVO Residential Funding Trust Series 2021-NQM2 Class A1†		0.97%	#(e)	3/25/2060		4,317,611		4,029,822
BX Commercial Mortgage Trust Series 2021-XL2 Class A†		5.796% (1 mo. USD LIBOR + 0.69%	)#	10/15/2038		2,352,003		2,275,497
BX Trust Series 2018-GW Class A†		6.157% (1 mo. USD LIBOR + 0.80%	)#	5/15/2035		4,710,000		4,642,871
BX Trust Series 2021-ARIA Class E†		7.352% (1 mo. USD LIBOR + 2.24%	)#	10/15/2036		3,830,000		3,609,930
BX Trust Series 2021-LBA Class AJV†	5.975% (1 mo. USD Term SOFR + 0.91%		)#	2/15/2036		1,973,177		1,910,023
CF Trust Series 2019-BOSS Class A1†		8.357% (1 mo. USD LIBOR + 3.25%	)#	12/15/2024		1,570,000		1,480,333
CIM Trust Series 2020-INV1 Class A2†		2.50%	#(e)	4/25/2050		5,773,654		4,816,853
Citigroup Commercial Mortgage Trust Series 2014-GC21 Class XA		1.12%	#(e)	5/10/2047		12,900,329		83,011
Citigroup Mortgage Loan Trust Series 2022-INV1 Class A3B†		3.00%	#(e)	11/27/2051		5,529,229		4,684,830
COMM Mortgage Trust Series 2014-CR17 Class AM		4.174%		5/10/2047		5,290,000		5,120,689
COMM Mortgage Trust Series 2015-LC21 Class AM		4.043%	#(e)	7/10/2048		4,547,000		4,272,779
Commercial Mortgage Pass-Through Certificates Series 2014-CR19 Class XA		0.927%	#(e)	8/10/2047		2,342,305		17,242
Commercial Mortgage Pass-Through Certificates Series 2014-UBS4 Class D†		4.712%	#(e)	8/10/2047		4,130,000		2,920,304
Credit Suisse Mortgage Capital Certificates Series 2020-SPT1 Class A1†		1.616%	(c)	4/25/2065		220,322		216,426
Credit Suisse Mortgage Capital Certificates Trust Series 2020-NQM1 Class A1†		1.208%	(c)	5/25/2065		540,069		489,182
CSMC Trust Series 2020-AFC1 Class A1†		2.24%	#(e)	2/25/2050		526,252		489,938
Deephaven Residential Mortgage Trust Series 2021-3 Class A1†		1.194%	#(e)	8/25/2066		4,414,666		3,769,248
Ellington Financial Mortgage Trust Series 2020-1 Class A1†		2.006%	#(e)	5/25/2065		489,398		468,231
Ellington Financial Mortgage Trust Series 2023-1 Class A1†		5.732%	(c)	2/25/2068		3,407,273		3,390,928

46 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
EQUS Mortgage Trust Series 2021-EQAZ Class A†		5.862% (1 mo. USD LIBOR + 0.75%	)#	10/15/2038	$	3,720,925	$	3,604,522
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2023-HQA1 Class M1A†		6.923%	)#	5/25/2043		4,000,000		4,001,545
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2022-HQA2 Class M1A†	7.623% (30 day USD SOFR Average + 2.65%		)#	7/25/2042		2,132,695		2,165,885
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-DNA2 Class M1A†	7.081% (30 day USD SOFR Average + 2.10%		)#	4/25/2043		6,112,474		6,145,648
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R02 Class 2M2†	6.973% (30 day USD SOFR Average + 2.00%		)#	11/25/2041		2,289,609		2,191,157
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01 Class 1M2†	6.523% (30 day USD SOFR Average + 1.55%		)#	10/25/2041		2,391,990		2,339,619
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R08 Class 1M1†	7.523% (30 day USD SOFR Average + 2.55%		)#	7/25/2042		3,227,227		3,265,680
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M1†	7.381% (30 day USD SOFR Average + 2.40%		)#	12/25/2042		4,053,457		4,084,643
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R02 Class 1M1†	7.273% (30 day USD SOFR Average + 2.30%		)#	1/25/2043		9,289,098		9,354,963
Flagstar Mortgage Trust Series 2021-11IN Class A20†		3.00%	#(e)	11/25/2051		4,300,459		3,643,713
Freddie Mac STACR REMIC Trust Series 2021-DNA6 Class M2†	6.473% (30 day USD SOFR Average + 1.50%		)#	10/25/2041		2,866,665		2,787,466
Freddie Mac STACR REMIC Trust Series 2021-DNA7 Class M2†	6.773% (30 day USD SOFR Average + 1.80%		)#	11/25/2041		2,885,279		2,769,748

See Notes to Financial Statements. 47

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac STACR REMIC Trust Series 2021-HQA4 Class M1†	5.923% (30 day USD SOFR Average + 0.95%		)#	12/25/2041	$	1,752,901	$	1,693,878
Freddie Mac STACR REMIC Trust Series 2022-DNA3 Class M1B†	7.873% (30 day USD SOFR Average + 2.90%		)#	4/25/2042		3,499,000		3,492,202
Freddie Mac STACR REMIC Trust Series 2022-HQA3 Class M1A†	7.273% (30 day USD SOFR Average + 2.30%		)#	8/25/2042		5,742,924		5,750,081
GCAT Trust Series 2020-NQM2 Class A1†		1.555%	(c)	4/25/2065		952,553		867,725
GCAT Trust Series 2023-NQM1 Class A1†		4.25%	#(e)	10/25/2057		9,185,230		8,563,787
Great Wolf Trust Series 2019-WOLF Class A†	6.208% (1 mo. USD Term SOFR + 1.15%		)#	12/15/2036		5,580,000		5,509,055
GS Mortgage Securities Corp. Trust Series 2018-RIVR Class A†		6.057% (1 mo. USD LIBOR + 0.95%	)#	7/15/2035		1,245,854		1,138,439
GS Mortgage Securities Corp. Trust Series 2022-ECI Class A†	7.254% (1 mo. USD Term SOFR + 2.19%		)#	8/15/2039		3,190,000		3,189,863
GS Mortgage Securities Trust Series 2021-PJ2 Class A2†		2.50%	#(e)	7/25/2051		8,566,412		7,001,530
GS Mortgage Securities Trust Series 2023-PJ1 Class A4†		3.50%	#(e)	2/25/2053		4,441,844		3,895,207
GS Mortgage-Backed Securities Corp. Trust Series 2020-PJ4 Class A2†		3.00%	#(e)	1/25/2051		2,579,295		2,223,550
Hilton Orlando Trust Series 2018-ORL Class A†		6.127% (1 mo. USD LIBOR + 1.02%	)#	12/15/2034		1,920,000		1,894,255
Hudsons Bay Simon JV Trust Series 2015-HB7 Class B7†		4.666%		8/5/2034		2,240,000		1,888,999
JP Morgan Chase Commercial Mortgage Securities Trust Series 2015-C30 Class C		4.227%	#(e)	7/15/2048		2,449,000		2,104,387
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class A†		6.377% (1 mo. USD LIBOR + 1.27%	)#	11/15/2035		956,000		922,080
JP Morgan Mortgage Trust Series 2021-3 Class A3†		2.50%	#(e)	7/25/2051		5,353,273		4,373,890
JP Morgan Mortgage Trust Series 2021-INV8 Class A2†		3.00%	#(e)	5/25/2052		4,712,058		4,004,188
New Residential Mortgage Loan Trust Series 2020-NQM1 Class A1†		2.464%	#(e)	1/26/2060		69,928		64,090

48 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
ReadyCap Commercial Mortgage Trust Series 2019-6 Class A†	2.833%		10/25/2052	$	466,395	$	435,767
Residential Mortgage Loan Trust Series 2020-1 Class A1†	2.376%	#(e)	1/26/2060		93,443		88,533
Starwood Mortgage Residential Trust Series 2020-1 Class A1†	2.275%	#(e)	2/25/2050		32,722		31,065
Starwood Mortgage Residential Trust Series 2020-3 Class A1†	1.486%	#(e)	4/25/2065		1,338,626		1,239,669
Verus Securitization Trust Series 2020-1 Class A1†	2.417%	(c)	1/25/2060		284,150		267,472
Verus Securitization Trust Series 2020-4 Class A1†	1.502%	(c)	5/25/2065		1,003,442		922,856
Verus Securitization Trust Series 2020-INV1 Class A1†	1.977%	#(e)	3/25/2060		430,292		418,263
Vista Point Securitization Trust Series 2020-2 Class A1†	1.475%	#(e)	4/25/2065		750,228		668,593
Wells Fargo Commercial Mortgage Trust Series 2015-NXS3 Class AS	3.972%	#(e)	9/15/2057		5,548,000		5,227,360
Wells Fargo Commercial Mortgage Trust Series 2018-C45 Class A4	4.184%		6/15/2051		7,100,000		6,754,057
WFRBS Commercial Mortgage Trust Series 2014-C23 Class XA	0.549%	#(e)	10/15/2057		17,077,228		84,662
Total Non-Agency Commercial Mortgage-Backed Securities (cost $202,518,474)							197,485,352
U.S. TREASURY OBLIGATIONS 17.15%
U.S. Treasury Bonds	2.25%		5/15/2041		20,190,000		15,629,505
U.S. Treasury Bonds	3.625%		5/15/2053		83,328,000		80,196,690
U.S. Treasury Bonds	3.875%		5/15/2043		128,700,000		126,397,477
U.S. Treasury Inflation-Indexed Bonds(h)	1.50%		2/15/2053		23,902,428		23,194,692
U.S. Treasury Notes	3.50%		4/30/2028		113,702,000		112,262,959
U.S. Treasury Notes	3.875%		3/31/2025		76,317,000		75,440,547
U.S. Treasury Notes	3.875%		4/30/2025		32,800,000		32,445,094
Total U.S. Treasury Obligations (cost $467,564,171)							465,566,964
Total Long-Term Investments (cost $3,109,137,448)							3,045,512,615

See Notes to Financial Statements. 49

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 6.15%
COMMERCIAL PAPER 1.31%
Commercial Services 0.51%
Global Payments, Inc.	5.912%	6/1/2023	$	13,853,000	$	13,853,000
Electric 0.35%
RWE AG	6.019%	7/11/2023		9,741,000		9,677,683
Finance 0.45%
Brookfield Infrastructure Holdings Canada, Inc.	6.183%	7/18/2023		12,239,000		12,143,128
Total Commercial Paper (cost $35,673,811)						35,673,811
U.S. TREASURY OBLIGATIONS 2.71%
U.S. Treasury Bills	Zero Coupon	6/20/2023		35,984,000		35,886,882
U.S. Treasury Bills	Zero Coupon	11/24/2023		38,556,000		37,575,789
Total U.S. Treasury Obligations (cost $73,473,089)						73,462,671
REPURCHASE AGREEMENTS 2.13%
Repurchase Agreement dated 5/31/2023, 5.080% due 6/1/2023 with Barclays Bank plc collateralized by $35,623,000 of U.S. Treasury Note at 3.750% due 5/31/2030; value: $35,699,589; proceeds: $35,004,537 (cost $34,999,598)				34,999,598		34,999,598
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $24,253,500 of U.S. Treasury Note at 2.500% due 2/28/2026; $33,600 of U.S. Treasury Note at 4.625% due 3/15/2026; value: $23,401,087; proceeds: $22,943,888 (cost $22,942,231)				22,942,231		22,942,231
Total Repurchase Agreements (cost $57,941,829)						57,941,829
Total Short-Term Investments (cost $167,088,729)						167,078,311
Total Investments in Securities 118.30% (cost $3,276,226,177)						3,212,590,926
Other Assets and Liabilities – Net(i) (18.30)%						(496,862,974	)
Net Assets 100.00%					$	2,715,727,952

EUR	Euro.
CMT	Constant Maturity Rate.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $690,584,059, which represents 25.43% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Foreign security traded in U.S. dollars.
(b)	Investment in non-U.S. dollar denominated securities.

50 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE FIXED INCOME FUND May 31, 2023

(c)	Step Bond – Security with a predetermined schedule of interest rate changes.
(d)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(e)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(f)	To-be-announced (“TBA”). Security purchased on a forward commitment basis with an approximate principal and maturity date. Actual principal and maturity will be determined upon settlement when the specific mortgage pools are assigned.
(g)	Securities purchased on a when-issued basis (See Note 2(j)).
(h)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(i)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts and futures contracts as follows:

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Depreciation
Euro	Buy	Morgan Stanley	6/13/2023	6,025,000	$	6,596,959	$	6,444,136		$	(152,823	)
Euro	Buy	State Street Bank and Trust	6/13/2023	4,267,000		4,611,056		4,563,839			(47,217	)
Euro	Sell	State Street Bank and Trust	6/13/2023	28,138,000		29,936,581		30,095,451			(158,870	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts										$	(358,910	)

Futures Contracts at May 31, 2023:

				Notional			Notional			Unrealized
Type	Expiration	Contracts	Position	Amount			Value			Appreciation
U.S. 10-Year Treasury Note	September 2023	256	Long	$	29,218,948		$	29,304,000			$	85,052
U.S. Ultra Treasury Bond	September 2023	1,110	Long		149,710,131			151,931,250				2,221,119
Total Unrealized Appreciation on Futures Contracts											$	2,306,171
Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
Euro-Bobl	September 2023	57	Short	EUR	(6,660,299	)	EUR	(6,695,220	)		$	(37,327	)
Euro-Bund	September 2023	89	Short		(12,036,323	)		(12,043,480	)			(7,650	)
U.S. 10-Year Ultra Treasury Bond	September 2023	314	Short	$	(37,613,402	)	$	(37,822,281	)			(208,879	)
U.S. 2-Year Treasury Note	September 2023	1,261	Long		259,680,728			259,549,267				(131,461	)
U.S. 5-Year Treasury Note	September 2023	948	Long		103,533,687			103,406,063				(127,624	)
Total Unrealized Depreciation on Futures Contracts											$	(512,941	)

See Notes to Financial Statements. 51

Schedule of Investments (unaudited)(concluded)

CORE FIXED INCOME FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities	$	–		$	369,919,379		$	–	$	369,919,379
Corporate Bonds		–			1,023,642,112			–		1,023,642,112
Floating Rate Loans		–			31,622,693			–		31,622,693
Foreign Government Obligations		–			97,518,585			–		97,518,585
Government Sponsored Enterprises Collateralized Mortgage Obligations		–			16,877,052			–		16,877,052
Government Sponsored Enterprises Pass-Throughs		–			832,474,331			–		832,474,331
Municipal Bonds		–			10,406,147			–		10,406,147
Non-Agency Commercial Mortgage-Backed Securities		–			197,485,352			–		197,485,352
U.S. Treasury Obligations		–			465,566,964			–		465,566,964
Short-Term Investments
Commercial Paper		–			35,673,811			–		35,673,811
U.S. Treasury Obligations		–			73,462,671			–		73,462,671
Repurchase Agreements		–			57,941,829			–		57,941,829
Total	$	–		$	3,212,590,926		$	–	$	3,212,590,926
Other Financial Instruments
Forward Foreign Currency Exchange Contracts
Assets	$	–		$	–		$	–	$	–
Liabilities		–			(358,910	)		–		(358,910	)
Futures Contracts
Assets		2,306,171			–			–		2,306,171
Liabilities		(512,941	)		–			–		(512,941	)
Total	$	1,793,230		$	(358,910	)	$	–	$	1,434,320

(1)	Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

52 See Notes to Financial Statements.

Schedule of Investments (unaudited)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 114.07%
ASSET-BACKED SECURITIES 14.27%
Automobiles 5.00%
Avid Automobile Receivables Trust Series 2019-1 Class C†	3.14%	7/15/2026	$	207,339	$	206,718
Avid Automobile Receivables Trust Series 2021-1 Class E†	3.39%	4/17/2028		950,000		861,687
BMW Vehicle Lease Trust Series 2023-1 Class A4	5.07%	6/25/2026		3,750,000		3,736,683
Capital One Prime Auto Receivables Trust Series 2022-1 Class A2	2.71%	6/16/2025		2,152,661		2,125,086
CarMax Auto Owner Trust Series 2023-1 Class C	5.19%	1/16/2029		3,975,000		3,948,142
CarMax Auto Owner Trust Series 2023-1 Class D	6.27%	11/15/2029		3,550,000		3,531,741
CPS Auto Receivables Trust Series 2020-B Class D†	4.75%	4/15/2026		151,885		151,235
CPS Auto Receivables Trust Series 2020-B Class E†	7.38%	6/15/2027		1,300,000		1,305,749
Exeter Automobile Receivables Trust Series 2020-2A Class E†	7.19%	9/15/2027		1,300,000		1,311,547
Exeter Automobile Receivables Trust Series 2022-3A Class B	4.86%	12/15/2026		2,000,000		1,974,449
Flagship Credit Auto Trust Series 2019-3 Class E†	3.84%	12/15/2026		800,000		730,742
Flagship Credit Auto Trust Series 2022-3 Class A3†	4.55%	4/15/2027		3,610,000		3,552,398
Flagship Credit Auto Trust Series 2022-4 Class A3†	6.32%	6/15/2027		3,000,000		3,034,949
Flagship Credit Auto Trust Series 2023-1 Class A3†	5.01%	8/16/2027		2,850,000		2,819,204
Flagship Credit Auto Trust Series 2023-2 Class E†	10.89%	7/15/2030		3,000,000		3,020,381
Ford Credit Auto Lease Trust Series 2023-A Class B	5.29%	6/15/2026		1,840,000		1,832,649
Ford Credit Auto Lease Trust Series 2023-A Class C	5.54%	12/15/2026		1,000,000		985,742
GM Financial Automobile Leasing Trust Series 2022-2 Class A2	2.93%	10/21/2024		1,034,983		1,025,483
GM Financial Automobile Leasing Trust Series 2023-1 Class B	5.51%	1/20/2027		3,475,000		3,471,238
GM Financial Automobile Leasing Trust Series 2023-2 Class B	5.54%	5/20/2027		3,450,000		3,439,522
OneMain Direct Auto Receivables Trust Series 2019-1 Class A†	3.63%	9/14/2027		1,026,000		991,203
OneMain Direct Auto Receivables Trust Series 2019-1A Class C†	4.19%	11/14/2028		1,487,000		1,402,883
Prestige Auto Receivables Trust Series 2021-1A Class E†	3.47%	3/15/2029		1,620,000		1,370,249
Santander Consumer Auto Receivables Trust Series 2020-BA Class F†	7.03%	8/15/2028		2,588,000		2,590,536

See Notes to Financial Statements. 53

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
Santander Consumer Auto Receivables Trust Series 2021-AA Class F†	5.79%		8/15/2028	$	750,000	$	702,792
Santander Drive Auto Receivables Trust Series 2022-5 Class C	4.74%		10/16/2028		1,730,000		1,693,439
Santander Drive Auto Receivables Trust Series 2022-6 Class C	4.96%		11/15/2028		4,490,000		4,410,632
Santander Drive Auto Receivables Trust Series 2023-1 Class C	5.09%		5/15/2030		1,150,000		1,136,482
Tricolor Auto Securitization Trust Series 2021-1A Class E†	3.23%		9/15/2026		500,000		484,259
Westlake Automobile Receivables Trust Series 2021-1A Class F†	3.91%		9/15/2027		1,100,000		1,028,063
Westlake Automobile Receivables Trust Series 2023-1A Class A3†	5.21%		1/18/2028		3,205,000		3,185,611
Westlake Automobile Receivables Trust Series 2023-1A Class C†	5.74%		8/15/2028		935,000		932,600
Total							62,994,094
Credit Card 1.35%
BA Credit Card Trust Series 2022-A2 Class A2	5.00%		4/15/2028		3,275,000		3,293,927
Capital One Multi-Asset Execution Trust Series 2005-B3 Class B3	5.81% (3 mo. USD LIBOR + 0.55%	)#	5/15/2028		5,275,000		5,201,313
Discover Card Execution Note Trust Series 2022-A3 Class A3	3.56%		7/15/2027		4,500,000		4,383,741
Discover Card Execution Note Trust Series 2022-A4 Class A	5.03%		10/15/2027		2,965,000		2,980,444
Perimeter Master Note Business Trust Series 2019-2A Class C†	7.06%		5/15/2024		750,000		709,257
Perimeter Master Note Business Trust Series 2021-1A Class B†	4.17%		12/15/2026		500,000		467,999
Total							17,036,681
Other 7.62%
ACRES Commercial Realty Ltd. Series 2021-FL2 Class A†	6.508% (1 mo. USD LIBOR + 1.40%	)#	1/15/2037		2,150,000		2,088,233
Affirm Asset Securitization Trust Series 2022-A Class 1A†	4.30%		5/17/2027		1,995,000		1,902,449
Affirm Asset Securitization Trust Series 2023-A Class 1A†	6.61%		1/18/2028		3,165,000		3,158,049

54 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Amur Equipment Finance Receivables IX LLC Series 2021-1A Class D†		2.30%		11/22/2027	$	1,000,000	$	924,090
Apidos CLO XXVI Series 2017-26A Class A2R†		6.762% (3 mo. USD LIBOR + 1.50%	)#	7/18/2029		380,000		371,297
Aqua Finance Trust Series 2021-A Class A†		1.54%		7/17/2046		768,223		684,534
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class E†		8.057% (1 mo. USD LIBOR + 2.95%	)#	5/15/2036		130,000		120,544
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL1 Class A†	6.322% (30 day USD SOFR Average + 1.45%		)#	1/15/2037		4,500,000		4,419,215
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL2 Class A†	6.909% (1 mo. USD Term SOFR + 1.85%		)#	5/15/2037		4,548,000		4,492,546
Ares XLII CLO Ltd. Series 2017-42A Class BR†		6.773% (3 mo. USD LIBOR + 1.50%	)#	1/22/2028		2,000,000		1,964,428
Avant Loans Funding Trust Series 2021-REV1 Class D†		4.30%		7/15/2030		825,000		737,624
Avant Loans Funding Trust Series 2022-REV1 Class A†		6.54%		9/15/2031		2,435,000		2,412,596
Bain Capital Credit CLO Ltd. Series 2021-1A Class A†		6.322% (3 mo. USD LIBOR + 1.06%	)#	4/18/2034		2,150,000		2,094,819
Bain Capital Credit CLO Series 2018-2A Class A1†		6.345% (3 mo. USD LIBOR + 1.08%	)#	7/19/2031		1,380,000		1,367,619
Bain Capital Credit CLO Series 2019-2A Class AR†		6.36% (3 mo. USD LIBOR + 1.10%	)#	10/17/2032		870,000		851,144
Ballyrock CLO Ltd. Series 2023-23A Class A1†	6.971% (3 mo. USD Term SOFR + 1.98%		)#	4/25/2036		2,950,000		2,955,249
Barings CLO Ltd. Series 2019-3A Class A1R†		6.32% (3 mo. USD LIBOR + 1.07%	)#	4/20/2031		500,000		492,956
BDS Ltd. Series 2021-FL7 Class A†		6.181% (1 mo. USD LIBOR + 1.07%	)#	6/16/2036		2,547,000		2,481,532
Benefit Street Partners CLO XVII Ltd. Series 2019-17A Class AR†		6.34% (3 mo. USD LIBOR + 1.08%	)#	7/15/2032		3,250,000		3,202,208
BlueMountain CLO Ltd. Series 2013-2A Class A1R†		6.453% (3 mo. USD LIBOR + 1.18%	)#	10/22/2030		1,748,412		1,738,855
BlueMountain CLO XXXI Ltd. Series 2021-31A Class A1†		6.415% (3 mo. USD LIBOR + 1.15%	)#	4/19/2034		2,010,000		1,962,363

See Notes to Financial Statements. 55

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Carlyle Global Market Strategies CLO Ltd. Series 2014-3RA Class A1A†		6.342% (3 mo. USD LIBOR + 1.05%	)#	7/27/2031	$	2,028,298	$	2,011,333
Carlyle Global Market Strategies CLO Ltd. Series 2015-1A Class AR3†		6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2031		716,308		707,710
Carlyle U.S. CLO Ltd. Series 2017-1A Class A1AR†		6.33% (3 mo. USD LIBOR + 1.08%	)#	4/20/2031		870,000		856,636
Cedar Funding V CLO Ltd. Series 2016-5A Class A1R†		6.36% (3 mo. USD LIBOR + 1.10%	)#	7/17/2031		700,000		693,625
CIFC Funding V Ltd. Series 2014-5A Class A1R2†		6.46% (3 mo. USD LIBOR + 1.20%	)#	10/17/2031		410,000		405,837
Dryden 36 Senior Loan Fund Series 2014-36A Class BR3†	6.698% (3 mo. USD Term SOFR + 1.71%		)#	4/15/2029		1,590,000		1,565,622
Fairstone Financial Issuance Trust Series I 2020-1A Class D†(a)		6.873%		10/20/2039	CAD	781,000		563,755
Galaxy XXVIII CLO Ltd. Series 2018-28A Class A2†		6.56% (3 mo. USD LIBOR + 1.30%	)#	7/15/2031	$	2,750,000		2,729,144
Generate CLO 2 Ltd. Series 2A Class AR†		6.423% (3 mo. USD LIBOR + 1.15%	)#	1/22/2031		248,307		245,775
Grippen Park CLO Ltd. Series 2017-1A Class B†		6.90% (3 mo. USD LIBOR + 1.65%	)#	1/20/2030		550,000		540,232
HGI CRE CLO Ltd. Series 2021-FL2 Class B†		6.605% (1 mo. USD LIBOR + 1.50%	)#	9/17/2036		980,000		938,483
Jamestown CLO VI-R Ltd. Series 2018-6RA Class A1†		6.405% (3 mo. USD LIBOR + 1.15%	)#	4/25/2030		367,809		363,647
Lending Funding Trust Series 2020-2A Class A†		2.32%		4/21/2031		3,000,000		2,686,740
Lending Funding Trust Series 2020-2A Class D†		6.77%		4/21/2031		630,000		551,310
Lendmark Funding Trust Series 2021-1A Class A†		5.12%		7/20/2032		1,500,000		1,471,445
Lendmark Funding Trust Series 2021-2A Class D†		4.46%		4/20/2032		725,000		550,463
LoanCore Issuer Ltd. Series 2022-CRE7 Class A†	6.456% (30 day USD SOFR Average + 1.55%		)#	1/17/2037		1,530,000		1,504,102
Madison Park Funding XXIV Ltd. Series 2016-24A Class BR†		7.06% (3 mo. USD Term SOFR + 2.01%	)#	10/20/2029		2,450,000		2,409,933
Magnetite VII Ltd. Series 2012-7A Class A1R2†		6.06% (3 mo. USD LIBOR + 0.80%	)#	1/15/2028		1,306,477		1,295,699

56 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Marble Point CLO XVII Ltd. Series 2020-1A Class A†		6.55% (3 mo. USD LIBOR + 1.30%	)#	4/20/2033	$	428,920	$	420,770
Mariner Finance Issuance Trust Series 2021-AA Class E†		5.40%		3/20/2036		550,000		442,434
Mariner Finance Issuance Trust Series 2021-BA Class E†		4.68%		11/20/2036		400,000		311,425
Marlette Funding Trust Series 2021-3A Class B†		1.30%		12/15/2031		1,100,000		1,060,846
ME Funding LLC Series 2019-1 Class A2†		6.448%		7/30/2049		3,606,205		3,523,716
MF1 LLC Series 2022-FL9 Class A†	7.223% (1 mo. USD Term SOFR + 2.15%		)#	6/19/2037		5,897,000		5,878,424
MF1 Ltd. Series 2022-FL8 Class A†	6.273% (30 day USD SOFR Average + 1.35%		)#	2/19/2037		1,900,000		1,855,712
Mountain View CLO LLC Series 2017-1A Class BR†		7.01% (3 mo. USD LIBOR + 1.75%	)#	10/16/2029		250,000		245,682
Octagon Investment Partners XV Ltd. Series 2013-1A Class A1RR†		6.235% (3 mo. USD LIBOR + 0.97%	)#	7/19/2030		1,909,220		1,893,288
OneMain Financial Issuance Trust Series 2018-2A Class A†		3.57%		3/14/2033		87,137		85,759
OneMain Financial Issuance Trust Series 2020-2A Class A†		1.75%		9/14/2035		1,700,000		1,531,341
OneMain Financial Issuance Trust Series 2020-2A Class D†		3.45%		9/14/2035		280,000		238,884
Orange Lake Timeshare Trust Series 2019-A Class A†		3.06%		4/9/2038		12,011		11,501
Post Road Equipment Finance Series 2021-1 Class A2†		4.88%		11/15/2028		1,674,000		1,629,978
RAD CLO 6 Ltd. Series 2019-6A Class A1†		6.63% (3 mo. USD LIBOR + 1.38%	)#	1/20/2033		1,500,000		1,483,800
Rockford Tower CLO Ltd. Series 2018-1A Class A†		6.479% (3 mo. USD LIBOR + 1.10%	)#	5/20/2031		980,022		964,856
Romark CLO Ltd. Series 2017-1A Class A2R†		6.923% (3 mo. USD LIBOR + 1.65%	)#	10/23/2030		830,000		807,356
SCF Equipment Leasing LLC Series 2019-2A Class B†		2.76%		8/20/2026		402,000		389,989
SCF Equipment Leasing LLC Series 2021-1A Class E†		3.56%		8/20/2032		2,252,000		2,069,044
SEB Funding LLC Series 2021-1A Class A2†		4.969%		1/30/2052		3,069,308		2,714,543

See Notes to Financial Statements. 57

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Signal Peak CLO Ltd. Series 2020-8A Class A†		6.52% (3 mo. USD LIBOR + 1.27%	)#	4/20/2033	$	2,000,000	$	1,964,042
Sunrun Demeter Issuer LLC Series 2021-2A Class A†		2.27%		1/30/2057		648,444		518,926
TCW CLO Ltd. Series 2022 1A Class A1†		6.411% (3 mo. USD Term SOFR + 1.34%	)#	4/22/2033		1,000,000		983,250
TICP CLO IX Ltd. Series 2017-9A Class A†		6.39% (3 mo. USD LIBOR + 1.14%	)#	1/20/2031		1,557,767		1,544,929
TRTX Issuer Ltd. Series 2019-FL3 Class C†	7.281% (1 mo. USD Term SOFR + 2.21%		)#	10/15/2034		411,000		394,794
Upstart Securitization Trust Series 2021-2 Class B†		1.75%		6/20/2031		500,000		486,267
Total								95,965,397
Rec Vehicle Loan 0.30%
Octane Receivables Trust Series 2022-2A Class B†		5.85%		7/20/2028		3,828,000		3,796,595
Total Asset-Backed Securities (cost $182,664,607)								179,792,767
CORPORATE BONDS 54.41%
Aerospace/Defense 0.37%
Bombardier, Inc. (Canada)†(b)		6.00%		2/15/2028		1,762,000		1,627,329
Spirit AeroSystems, Inc.†		9.375%		11/30/2029		1,038,000		1,106,890
TransDigm, Inc.		4.625%		1/15/2029		2,121,000		1,882,451
Total								4,616,670
Agriculture 1.22%
BAT Capital Corp.		3.222%		8/15/2024		5,934,000		5,761,163
Cargill, Inc. †		4.00%		6/22/2032		2,950,000		2,757,667
Philip Morris International, Inc.		5.625%		11/17/2029		2,959,000		3,033,797
Viterra Finance BV (Netherlands)†(b)		3.20%		4/21/2031		1,208,000		968,239
Viterra Finance BV (Netherlands)†(b)		4.90%		4/21/2027		3,013,000		2,889,898
Total								15,410,764
Airlines 0.47%
Allegiant Travel Co.†		7.25%		8/15/2027		1,581,000		1,570,921
American Airlines, Inc.†		7.25%		2/15/2028		1,234,000		1,209,054
American Airlines, Inc.†		11.75%		7/15/2025		1,040,000		1,140,158
British Airways Pass-Through Trust Series 2020-1 Class A (United Kingdom)†(b)		4.25%		5/15/2034		662,391		617,042
Delta Air Lines, Inc.†		7.00%		5/1/2025		517,000		531,395

58 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Airlines (continued)
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.†		5.75%		1/20/2026	$	949,000	$	883,331
Total								5,951,901
Apparel 0.02%
Levi Strauss & Co.†		3.50%		3/1/2031		293,000		242,630
Auto Manufacturers 0.78%
Ford Motor Co.		3.25%		2/12/2032		2,163,000		1,645,551
Ford Motor Credit Co. LLC		7.35%		11/4/2027		3,034,000		3,068,421
Nissan Motor Acceptance Co. LLC†		1.125%		9/16/2024		5,475,000		5,087,317
Total								9,801,289
Banks 13.35%
ABN AMRO Bank NV (Netherlands)†(b)		3.324% (5 yr. CMT + 1.90%	)#	3/13/2037		1,000,000		765,249
Bank of America Corp.		2.087% (SOFR + 1.06%	)#	6/14/2029		609,000		521,973
Bank of America Corp.		2.687% (SOFR + 1.32%	)#	4/22/2032		10,431,000		8,627,120
Bank of America Corp.		3.384% (SOFR + 1.33%	)#	4/2/2026		497,000		478,471
Bank of America Corp.	3.458% (3 mo. USD Term SOFR + 1.23%		)#	3/15/2025		2,752,000		2,699,501
Bank of America Corp.	3.593% (3 mo. USD Term SOFR + 1.63%		)#	7/21/2028		3,956,000		3,690,898
Bank of America Corp.	3.97% (3 mo. USD Term SOFR + 1.33%		)#	3/5/2029		5,514,000		5,206,167
Bank of New York Mellon Corp.		4.596% (SOFR + 1.76%	)#	7/26/2030		1,601,000		1,559,710
Bank of New York Mellon Corp.		4.967% (SOFR + 1.61%	)#	4/26/2034		2,054,000		2,043,393
BankUnited, Inc.		5.125%		6/11/2030		1,300,000		925,150
BNG Bank NV (Netherlands)†(b)		3.50%		5/19/2028		6,314,000		6,163,506
BNP Paribas SA (France)†(b)		4.375% (5 yr. USD Swap + 1.48%	)#	3/1/2033		1,500,000		1,372,672
Citigroup, Inc.		2.666% (SOFR + 1.15%	)#	1/29/2031		2,000,000		1,702,118
Citigroup, Inc.	3.887% (3 mo. USD Term SOFR + 1.82%		)#	1/10/2028		4,150,000		3,952,805
Citigroup, Inc.	3.98% (3 mo. USD Term SOFR + 1.60%		)#	3/20/2030		5,539,000		5,140,137

See Notes to Financial Statements. 59

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Citigroup, Inc.		4.14% (SOFR + 1.37%	)#	5/24/2025	$	394,000	$	387,790
Citigroup, Inc.		6.174%	#	5/25/2034		5,733,000		5,817,508
Citizens Bank NA		4.119% (SOFR + 1.40%	)#	5/23/2025		3,212,000		3,005,609
Danske Bank AS (Denmark)†(b)		3.773% (1 yr. CMT + 1.45%	)#	3/28/2025		5,247,000		5,125,107
Danske Bank AS (Denmark)†(b)		4.375%		6/12/2028		800,000		751,562
Danske Bank AS (Denmark)†(b)		5.375%		1/12/2024		1,360,000		1,349,636
Discover Bank		4.682% (5 yr. USD Swap + 1.73%	)#	8/9/2028		1,475,000		1,358,536
First-Citizens Bank & Trust Co.	2.969% (3 mo. USD Term SOFR + 1.72%		)#	9/27/2025		2,652,000		2,481,007
Goldman Sachs Group, Inc.		2.383% (SOFR + 1.25%	)#	7/21/2032		6,000,000		4,835,503
Goldman Sachs Group, Inc.	3.272% (3 mo. USD Term SOFR + 1.46%		)#	9/29/2025		4,081,000		3,948,280
HSBC Holdings PLC (United Kingdom)(b)		3.803% (3 mo. USD LIBOR + 1.21%	)#	3/11/2025		2,305,000		2,262,530
Huntington Bancshares, Inc.		2.625%		8/6/2024		3,056,000		2,892,444
JPMorgan Chase & Co.	2.58% (3 mo. USD Term SOFR + 1.25%		)#	4/22/2032		4,000,000		3,332,260
JPMorgan Chase & Co.		2.963% (SOFR + 1.26%	)#	1/25/2033		15,164,000		12,841,864
Lloyds Banking Group PLC (United Kingdom)(b)		3.90%		3/12/2024		2,901,000		2,855,295
M&T Bank Corp.		5.053% (SOFR + 1.85%	)#	1/27/2034		2,637,000		2,435,413
Macquarie Bank Ltd. (Australia)†(b)		3.624%		6/3/2030		2,196,000		1,854,768
Macquarie Group Ltd. (Australia)†(b)		2.691% (SOFR + 1.44%	)#	6/23/2032		980,000		782,551
Macquarie Group Ltd. (Australia)†(b)		4.654% (3 mo. USD LIBOR + 1.73%	)#	3/27/2029		5,213,000		5,009,450
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)		5.541% (1 yr. CMT + 1.50%	)#	4/17/2026		1,447,000		1,445,264
Morgan Stanley		2.239% (SOFR + 1.18%	)#	7/21/2032		8,000,000		6,388,365
Morgan Stanley		2.484% (SOFR + 1.36%	)#	9/16/2036		1,170,000		884,046
Morgan Stanley		4.00%		7/23/2025		959,000		938,405
Morgan Stanley	4.431% (3 mo. USD Term SOFR + 1.63%		)#	1/23/2030		8,000,000		7,686,584

60 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Morgan Stanley		5.05% (SOFR + 1.30%	)#	1/28/2027	$	1,335,000	$	1,331,408
National Australia Bank Ltd. (Australia)†(b)		3.933% (5 yr. CMT + 1.88%	)#	8/2/2034		1,425,000		1,235,849
Royal Bank of Canada (Canada)(b)		6.00%		11/1/2027		1,391,000		1,442,061
State Street Corp.		4.164% (SOFR + 1.73%	)#	8/4/2033		2,430,000		2,261,013
Toronto-Dominion Bank (Canada)(b)		4.456%		6/8/2032		3,661,000		3,464,296
U.S. Bancorp		4.839% (SOFR + 1.60%	)#	2/1/2034		2,457,000		2,306,730
U.S. Bancorp		4.967% (SOFR + 2.11%	)#	7/22/2033		1,849,000		1,676,275
UBS AG (Switzerland)(b)		5.125%		5/15/2024		3,045,000		3,000,360
UBS Group AG (Switzerland)†(b)		1.494% (1 yr. CMT + 0.85%	)#	8/10/2027		2,499,000		2,156,063
UBS Group AG (Switzerland)†(b)		5.711% (1 yr. CMT + 1.55%	)#	1/12/2027		13,217,000		13,113,451
Wells Fargo & Co.		2.188% (SOFR + 2.00%	)#	4/30/2026		2,358,000		2,219,646
Wells Fargo & Co.		2.393% (SOFR + 2.10%	)#	6/2/2028		3,000,000		2,684,329
Wells Fargo & Co.		3.35% (SOFR + 1.50%	)#	3/2/2033		2,457,000		2,112,205
Wells Fargo & Co.		5.389% (SOFR + 2.02%	)#	4/24/2034		3,475,000		3,481,643
Western Alliance Bancorp	3.00% (3 mo. USD Term SOFR + 2.25%		)#	6/15/2031		215,000		152,650
Total								168,156,626
Beverages 0.21%
Constellation Brands, Inc.		3.15%		8/1/2029		2,964,000		2,676,903
Biotechnology 0.45%
Amgen, Inc.(c)		5.25%		3/2/2030		5,305,000		5,348,093
Baxalta, Inc.		4.00%		6/23/2025		311,000		303,826
Total								5,651,919
Building Materials 0.45%
Eco Material Technologies, Inc.†		7.875%		1/31/2027		1,119,000		1,064,611
Emerald Debt Merger Sub LLC†		6.625%		12/15/2030		1,866,000		1,853,404
Smyrna Ready Mix Concrete LLC†		6.00%		11/1/2028		1,726,000		1,607,624

See Notes to Financial Statements. 61

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Building Materials (continued)
Standard Industries, Inc.†	4.375%		7/15/2030	$	1,324,000	$	1,119,311
Total							5,644,950
Chemicals 0.87%
CVR Partners LP/CVR Nitrogen Finance Corp.†	6.125%		6/15/2028		1,487,000		1,291,947
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		4,782,000		4,267,391
OCP SA (Malaysia)†(b)	3.75%		6/23/2031		2,230,000		1,835,818
Rain CII Carbon LLC/CII Carbon Corp.†	7.25%		4/1/2025		1,279,000		1,241,333
Sasol Financing USA LLC†	8.75%		5/3/2029		2,480,000		2,377,787
Total							11,014,276
Coal 0.12%
SunCoke Energy, Inc.†	4.875%		6/30/2029		1,800,000		1,483,931
Commercial Services 0.52%
Adani Ports & Special Economic Zone Ltd. (India)(b)	4.00%		7/30/2027		1,900,000		1,641,590
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl (Luxembourg)†(b)	4.625%		6/1/2028		1,725,000		1,415,752
Garda World Security Corp. (Canada)†(b)	7.75%		2/15/2028		1,875,000		1,882,566
Global Payments, Inc.	4.00%		6/1/2023		1,635,000		1,635,000
Total							6,574,908
Computers 0.74%
Booz Allen Hamilton, Inc.†	3.875%		9/1/2028		3,113,000		2,794,354
International Business Machines Corp.(a)	1.50%		5/23/2029	EUR	1,329,000		1,272,829
International Business Machines Corp.(a)	3.75%		2/6/2035	EUR	1,527,000		1,599,963
Leidos, Inc.	5.75%		3/15/2033	$	3,641,000		3,617,847
Total							9,284,993
Cosmetics/Personal Care 0.18%
Haleon U.S. Capital LLC	3.625%		3/24/2032		2,540,000		2,281,324
Diversified Financial Services 3.17%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.875%		1/16/2024		1,050,000		1,041,108
AerCap Ireland Capital DAC/AerCap Global Aviation Trust Series 3NC1 (Ireland)(b)	1.75%		10/29/2024		3,000,000		2,816,748
Aircastle Ltd.†	2.85%		1/26/2028		3,169,000		2,712,277
American Express Co.	4.42% (SOFR + 1.76%	)#	8/3/2033		2,326,000		2,200,676
Aviation Capital Group LLC†	1.95%		1/30/2026		315,000		281,531

62 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Diversified Financial Services (continued)
Aviation Capital Group LLC†	5.50%	12/15/2024	$	4,000,000	$	3,924,922
Avolon Holdings Funding Ltd. (Ireland)†(b)	2.125%	2/21/2026		2,000,000		1,760,503
Avolon Holdings Funding Ltd. (Ireland)†(b)	3.95%	7/1/2024		500,000		483,793
Avolon Holdings Funding Ltd. (Ireland)†(b)	4.25%	4/15/2026		11,371,000		10,534,550
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.25%	5/15/2024		5,596,000		5,510,788
Intercontinental Exchange, Inc.	4.00%	9/15/2027		3,973,000		3,905,868
Navient Corp.	5.50%	3/15/2029		1,850,000		1,533,030
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.50%	3/15/2027		18,000		17,156
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.875%	4/15/2045		303,000		245,232
OneMain Finance Corp.	6.625%	1/15/2028		1,579,000		1,431,077
Park Aerospace Holdings Ltd. (Ireland)†(b)	5.50%	2/15/2024		382,000		377,958
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(b)	7.875%	5/1/2027		1,309,000		1,182,721
Total						39,959,938
Electric 5.33%
AEP Texas, Inc.	5.40%	6/1/2033		1,516,000		1,519,591
American Transmission Systems, Inc.†	2.65%	1/15/2032		4,000,000		3,322,704
Ausgrid Finance Pty. Ltd. (Australia)†(b)	4.35%	8/1/2028		772,000		737,424
Calpine Corp.†	5.125%	3/15/2028		2,702,000		2,423,546
CenterPoint Energy Houston Electric LLC	4.95%	4/1/2033		3,868,000		3,886,217
Constellation Energy Generation LLC	5.80%	3/1/2033		5,500,000		5,657,083
Constellation Energy Generation LLC	6.25%	10/1/2039		2,500,000		2,597,825
Duke Energy Corp.	4.50%	8/15/2032		5,713,000		5,403,702
Duke Energy Indiana LLC	5.40%	4/1/2053		3,000,000		2,983,925
Electricite de France SA (France)†(b)	6.25%	5/23/2033		3,836,000		3,888,842
Enel Finance International NV(a)	0.50%	6/17/2030	EUR	2,898,000		2,458,347
Entergy Corp.	0.90%	9/15/2025	$	2,675,000		2,417,386
Eskom Holdings SOC Ltd. (South Africa)†(b)	7.125%	2/11/2025		1,100,000		1,056,564
Indiana Michigan Power Co.	5.625%	4/1/2053		1,317,000		1,347,800
Indianapolis Power & Light Co.†	5.65%	12/1/2032		3,849,000		3,975,363
IPALCO Enterprises, Inc.	4.25%	5/1/2030		5,640,000		5,114,001
Minejesa Capital BV (Netherlands)†(b)	4.625%	8/10/2030		3,330,000		2,991,435
NRG Energy, Inc.†	4.45%	6/15/2029		2,046,000		1,830,358
NRG Energy, Inc.†	5.25%	6/15/2029		2,649,000		2,391,786
Oglethorpe Power Corp.	5.95%	11/1/2039		1,050,000		1,040,827

See Notes to Financial Statements. 63

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Electric (continued)
Oklahoma Gas & Electric Co.	5.40%		1/15/2033	$	3,311,000	$	3,389,214
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia)†(b)	3.00%		6/30/2030		2,575,000		2,209,940
Southern Co.	4.475%	(d)	8/1/2024		4,523,000		4,457,677
Total							67,101,557
Electronics 0.36%
Honeywell International, Inc.(a)	4.125%		11/2/2034	EUR	1,455,000		1,581,389
Trimble, Inc.(c)	6.10%		3/15/2033	$	2,885,000		2,923,305
Total							4,504,694
Energy-Alternate Sources 0.15%
Empresa Generadora de Electricidad Haina SA (Dominican Republic)†(b)	5.625%		11/8/2028		2,000,000		1,824,900
Engineering & Construction 0.46%
Cellnex Finance Co. SA (Spain)†(b)	3.875%		7/7/2041		500,000		367,779
Fluor Corp.	4.25%		9/15/2028		1,015,000		933,800
Jacobs Engineering Group, Inc.	5.90%		3/1/2033		3,332,000		3,305,402
Weekley Homes LLC/Weekley Finance Corp.†	4.875%		9/15/2028		1,421,000		1,247,801
Total							5,854,782
Entertainment 0.69%
Caesars Entertainment, Inc.†	4.625%		10/15/2029		1,975,000		1,705,146
Cinemark USA, Inc.†	5.875%		3/15/2026		1,303,000		1,239,909
Jacobs Entertainment, Inc.†	6.75%		2/15/2029		983,000		864,013
Penn Entertainment, Inc.†	4.125%		7/1/2029		1,089,000		879,547
Warnermedia Holdings, Inc.	3.428%		3/15/2024		4,072,000		3,987,414
Total							8,676,029
Food 0.17%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC†	3.50%		3/15/2029		764,000		665,592
Lamb Weston Holdings, Inc.†	4.125%		1/31/2030		431,000		384,298
Post Holdings, Inc.†	4.625%		4/15/2030		1,250,000		1,095,742
Total							2,145,632
Gas 1.20%
CenterPoint Energy Resources Corp.	5.40%		3/1/2033		2,822,000		2,872,647
East Ohio Gas Co.†	1.30%		6/15/2025		2,649,000		2,440,464
National Fuel Gas Co.	3.95%		9/15/2027		2,836,000		2,657,935

64 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Gas (continued)
National Fuel Gas Co.	5.50%	1/15/2026	$	1,308,000	$	1,299,217
NiSource, Inc.	2.95%	9/1/2029		3,977,000		3,507,337
ONE Gas, Inc.	1.10%	3/11/2024		451,000		435,750
Southwest Gas Corp.	4.05%	3/15/2032		2,156,000		1,945,336
Total						15,158,686
Health Care-Products 0.38%
GE HealthCare Technologies, Inc.†	5.65%	11/15/2027		4,744,000		4,842,606
Health Care-Services 3.03%
Catalent Pharma Solutions, Inc.†	5.00%	7/15/2027		1,326,000		1,207,335
Centene Corp.	2.45%	7/15/2028		2,700,000		2,322,351
Centene Corp.	3.375%	2/15/2030		6,500,000		5,610,410
Centene Corp.	4.25%	12/15/2027		962,000		904,934
CHS/Community Health Systems, Inc.†	5.625%	3/15/2027		1,308,000		1,120,920
DaVita, Inc.†	4.625%	6/1/2030		1,372,000		1,176,847
Elevance Health, Inc.	2.25%	5/15/2030		2,750,000		2,324,126
Elevance Health, Inc.	5.125%	2/15/2053		2,263,000		2,171,356
Elevance Health, Inc.	5.50%	10/15/2032		2,250,000		2,327,216
HCA, Inc.	5.50%	6/1/2033		3,205,000		3,200,423
Humana, Inc.	1.35%	2/3/2027		2,892,000		2,539,757
Humana, Inc.	5.875%	3/1/2033		3,486,000		3,663,381
ModivCare Escrow Issuer, Inc.†	5.00%	10/1/2029		1,808,000		1,376,891
Molina Healthcare, Inc.†	3.875%	11/15/2030		537,000		460,229
Tenet Healthcare Corp.	6.125%	10/1/2028		1,875,000		1,778,924
Tenet Healthcare Corp.†	6.75%	5/15/2031		1,175,000		1,175,306
U.S. Acute Care Solutions LLC†	6.375%	3/1/2026		1,416,000		1,201,533
UnitedHealth Group, Inc.	4.00%	5/15/2029		3,741,000		3,619,780
Total						38,181,719
Insurance 1.18%
Assurant, Inc.	2.65%	1/15/2032		515,000		391,273
Assurant, Inc.	3.70%	2/22/2030		312,000		271,116
F&G Global Funding†	5.15%	7/7/2025		1,250,000		1,220,401
GA Global Funding Trust†	3.85%	4/11/2025		4,577,000		4,388,180
Jones Deslauriers Insurance Management, Inc. (Canada)†(b)	8.50%	3/15/2030		1,213,000		1,211,663
Metropolitan Life Global Funding I†	4.05%	8/25/2025		558,000		541,667
Metropolitan Life Global Funding I†	5.15%	3/28/2033		2,672,000		2,668,113

See Notes to Financial Statements. 65

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Insurance (continued)
New York Life Global Funding†	4.55%	1/28/2033	$	3,753,000	$	3,659,035
Protective Life Corp.	8.45%	10/15/2039		393,000		466,184
Total						14,817,632
Internet 1.41%
Amazon.com, Inc.	4.70%	12/1/2032		7,612,000		7,722,558
Gen Digital, Inc.†	7.125%	9/30/2030		1,231,000		1,230,032
Netflix, Inc.	5.875%	11/15/2028		2,924,000		3,033,399
Netflix, Inc.	6.375%	5/15/2029		2,559,000		2,715,206
Prosus NV (Netherlands)†(b)	3.257%	1/19/2027		3,370,000		3,060,293
Total						17,761,488
Iron-Steel 0.14%
Commercial Metals Co.	4.125%	1/15/2030		424,000		372,699
U.S. Steel Corp.	6.875%	3/1/2029		1,431,000		1,384,450
Total						1,757,149
Leisure Time 0.53%
Carnival Corp.†	9.875%	8/1/2027		1,157,000		1,195,359
Life Time, Inc.†	5.75%	1/15/2026		1,201,000		1,164,978
NCL Corp. Ltd.†	5.875%	2/15/2027		1,537,000		1,465,278
Royal Caribbean Cruises Ltd.†	5.375%	7/15/2027		1,992,000		1,837,654
Royal Caribbean Cruises Ltd.†	8.25%	1/15/2029		900,000		947,811
Total						6,611,080
Lodging 0.03%
Hilton Domestic Operating Co., Inc.	4.875%	1/15/2030		364,000		338,779
Machinery-Diversified 0.66%
Chart Industries, Inc.†	9.50%	1/1/2031		1,497,000		1,567,119
nVent Finance Sarl (Luxembourg)(b)	4.55%	4/15/2028		5,416,000		5,117,112
TK Elevator U.S. Newco, Inc.†	5.25%	7/15/2027		1,832,000		1,689,126
Total						8,373,357
Media 0.41%
DISH Network Corp.†	11.75%	11/15/2027		1,393,000		1,334,803
FactSet Research Systems, Inc.	3.45%	3/1/2032		3,397,000		2,920,775
Gray Escrow II, Inc.†	5.375%	11/15/2031		1,424,000		907,464
Total						5,163,042

66 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Mining 0.88%
Anglo American Capital PLC (United Kingdom)†(b)	4.00%	9/11/2027	$	1,550,000	$	1,469,086
Corp. Nacional del Cobre de Chile (Chile)†(b)	5.125%	2/2/2033		3,040,000		3,027,804
FMG Resources August 2006 Pty. Ltd. (Australia)†(b)	4.375%	4/1/2031		2,438,000		2,062,655
Glencore Funding LLC†	4.875%	3/12/2029		2,283,000		2,218,513
Hecla Mining Co.	7.25%	2/15/2028		1,221,000		1,202,545
Novelis Corp.†	3.875%	8/15/2031		1,414,000		1,162,812
Total						11,143,415
Miscellaneous Manufacturing 0.10%
LSB Industries, Inc.†	6.25%	10/15/2028		1,351,000		1,224,378
Oil & Gas 4.32%
Antero Resources Corp.†	5.375%	3/1/2030		2,334,000		2,148,167
Baytex Energy Corp. (Canada)†(b)	8.75%	4/1/2027		1,628,000		1,646,847
California Resources Corp.†	7.125%	2/1/2026		296,000		300,706
Callon Petroleum Co.†	8.00%	8/1/2028		1,742,000		1,705,509
Comstock Resources, Inc.†	6.75%	3/1/2029		1,174,000		1,027,491
Continental Resources, Inc.†	5.75%	1/15/2031		8,823,000		8,412,040
Crescent Energy Finance LLC†	9.25%	2/15/2028		1,794,000		1,738,772
Diamondback Energy, Inc.	3.125%	3/24/2031		1,500,000		1,279,512
Diamondback Energy, Inc.	3.50%	12/1/2029		6,309,000		5,704,208
Earthstone Energy Holdings LLC†	8.00%	4/15/2027		1,556,000		1,516,112
EQT Corp.	7.00%	2/1/2030		6,000,000		6,216,300
Gulfport Energy Corp.†	8.00%	5/17/2026		1,253,517		1,251,718
Hilcorp Energy I LP/Hilcorp Finance Co.†	5.75%	2/1/2029		1,193,000		1,081,614
Occidental Petroleum Corp.	6.125%	1/1/2031		168,000		170,900
Occidental Petroleum Corp.	6.45%	9/15/2036		1,200,000		1,222,224
Occidental Petroleum Corp.	6.625%	9/1/2030		1,576,000		1,644,414
Ovintiv, Inc.	6.50%	2/1/2038		2,245,000		2,226,009
Patterson-UTI Energy, Inc.	5.15%	11/15/2029		3,152,000		2,774,816
PBF Holding Co. LLC/PBF Finance Corp.	6.00%	2/15/2028		1,167,000		1,087,002
PDC Energy, Inc.	5.75%	5/15/2026		745,000		743,398
Permian Resources Operating LLC†	7.75%	2/15/2026		1,160,000		1,169,541
Petroleos Mexicanos (Mexico)(b)	6.70%	2/16/2032		2,817,000		2,113,325
Precision Drilling Corp. (Canada)†(b)	6.875%	1/15/2029		1,795,000		1,609,385
Rockcliff Energy II LLC†	5.50%	10/15/2029		1,254,000		1,153,705
SM Energy Co.	6.625%	1/15/2027		1,166,000		1,122,357
Vermilion Energy, Inc. (Canada)†(b)	6.875%	5/1/2030		2,925,000		2,665,041
Vital Energy, Inc.	9.50%	1/15/2025		765,000		757,478
Total						54,488,591

See Notes to Financial Statements. 67

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Oil & Gas Services 0.17%
NOV, Inc.	3.60%	12/1/2029	$	2,450,000	$	2,195,242
Packaging & Containers 0.28%
Owens-Brockway Glass Container, Inc.†	6.625%	5/13/2027		1,120,000		1,119,608
Pactiv Evergreen Group Issuer LLC/Pactiv
Evergreen Group Issuer, Inc.†	4.375%	10/15/2028		2,822,000		2,459,387
Total						3,578,995
Pharmaceuticals 2.53%
180 Medical, Inc.†	3.875%	10/15/2029		866,000		758,397
AbbVie, Inc.	3.20%	11/21/2029		5,941,000		5,394,966
Bayer Corp.†	6.65%	2/15/2028		203,000		215,080
Bayer U.S. Finance II LLC†	4.25%	12/15/2025		4,694,000		4,558,841
BellRing Brands, Inc.†	7.00%	3/15/2030		1,124,000		1,140,607
Cigna Group	2.40%	3/15/2030		5,376,000		4,581,143
Cigna Group	4.375%	10/15/2028		292,000		284,753
CVS Health Corp.	1.75%	8/21/2030		1,745,000		1,403,744
CVS Health Corp.	3.25%	8/15/2029		6,050,000		5,474,228
CVS Health Corp.	5.05%	3/25/2048		3,050,000		2,757,451
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)	4.75%	5/19/2033		5,295,000		5,318,759
Total						31,887,969
Pipelines 1.67%
Cheniere Energy Partners LP	3.25%	1/31/2032		1,700,000		1,392,808
CNX Midstream Partners LP†	4.75%	4/15/2030		1,896,000		1,572,348
EIG Pearl Holdings Sarl (Luxembourg)†(b)	3.545%	8/31/2036		3,600,000		3,069,274
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates)†(b)	3.25%	9/30/2040		4,630,000		3,629,040
Kinder Morgan Energy Partners LP	4.25%	9/1/2024		1,129,000		1,102,643
NGPL PipeCo LLC†	3.25%	7/15/2031		600,000		496,406
NGPL PipeCo LLC†	4.875%	8/15/2027		2,750,000		2,632,594
Sabine Pass Liquefaction LLC	5.625%	3/1/2025		1,912,000		1,912,017
TMS Issuer Sarl (Luxembourg)†(b)	5.78%	8/23/2032		3,000,000		3,128,640
Venture Global Calcasieu Pass LLC†	4.125%	8/15/2031		938,000		809,704
Venture Global LNG, Inc.†	8.375%	6/1/2031		1,230,000		1,237,663
Total						20,983,137
REITS 1.26%
American Tower Corp.	2.95%	1/15/2025		1,912,000		1,837,526
American Tower Corp.	3.80%	8/15/2029		4,976,000		4,593,286

68 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
REITS (continued)
American Tower Corp.	5.55%	7/15/2033	$	1,521,000	$	1,531,644
Crown Castle, Inc.	2.10%	4/1/2031		3,000,000		2,419,126
Crown Castle, Inc.	3.30%	7/1/2030		4,627,000		4,090,391
EPR Properties	4.95%	4/15/2028		701,000		607,979
VICI Properties LP/VICI Note Co., Inc.†	5.625%	5/1/2024		831,000		826,204
Total						15,906,156
Retail 0.68%
7-Eleven, Inc.†	0.80%	2/10/2024		1,620,000		1,562,527
Asbury Automotive Group, Inc.†	5.00%	2/15/2032		1,125,000		966,288
Gap, Inc.†	3.875%	10/1/2031		1,865,000		1,288,765
Lowe’s Cos., Inc.	5.00%	4/15/2033		3,567,000		3,535,344
Macy’s Retail Holdings LLC†	5.875%	4/1/2029		1,377,000		1,219,041
Total						8,571,965
Semiconductors 0.22%
Broadcom, Inc.†	4.15%	4/15/2032		2,413,000		2,173,329
Microchip Technology, Inc.	4.333%	6/1/2023		598,000		598,000
Total						2,771,329
Software 1.37%
Cloud Software Group, Inc.†	6.50%	3/31/2029		1,790,000		1,584,754
MSCI, Inc.†	3.625%	11/1/2031		3,879,000		3,242,762
Oracle Corp.	2.875%	3/25/2031		3,491,000		2,969,536
Oracle Corp.	6.25%	11/9/2032		3,185,000		3,370,190
ROBLOX Corp.†	3.875%	5/1/2030		1,484,000		1,272,664
ServiceNow, Inc.	1.40%	9/1/2030		3,000,000		2,388,502
Workday, Inc.	3.80%	4/1/2032		2,750,000		2,480,948
Total						17,309,356
Telecommunications 1.73%
AT&T, Inc.	4.30%	2/15/2030		6,709,000		6,424,345
Frontier Communications Holdings LLC†	5.00%	5/1/2028		2,159,000		1,810,203
Sprint Capital Corp.	6.875%	11/15/2028		2,226,000		2,381,744
Sprint Capital Corp.	8.75%	3/15/2032		1,994,000		2,424,339
T-Mobile USA, Inc.	3.50%	4/15/2025		814,000		789,560
T-Mobile USA, Inc.	3.875%	4/15/2030		8,600,000		7,981,966
Total						21,812,157
Trucking & Leasing 0.15%
Fortress Transportation & Infrastructure Investors LLC†	5.50%	5/1/2028		2,035,000		1,829,175
Total Corporate Bonds (cost $700,743,658)						685,568,019

See Notes to Financial Statements. 69

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
FLOATING RATE LOANS(e) 0.87%
Airlines 0.08%
Mileage Plus Holdings LLC 2020 Term Loan B		10.213% (3 mo. USD LIBOR + 5.25%	)	6/21/2027	$	944,444	$	979,417
Entertainment 0.09%
Stars Group Holdings BV 2018 USD Incremental Term Loan (Netherlands)(b)		7.409% (3 mo. USD LIBOR + 2.25%	)	7/21/2026		1,209,190		1,205,962
Financial 0.02%
LPL Holdings, Inc. 2019 Term Loan B1		6.843%		11/12/2026		319,800		317,267
Lodging 0.24%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%		)	6/22/2026		3,000,000		2,988,090
Media 0.35%
Charter Communications Operating, LLC 2019 Term Loan B1		6.795% (1 mo. USD LIBOR	)	4/30/2025		3,314,669		3,311,852
Charter Communications Operating, LLC 2019 Term Loan B2		6.795% - 6.90% (3 mo. USD Term SOFR	)	2/1/2027		1,067,235		1,047,560
Total								4,359,412
Utilities 0.09%
Vistra Operations Co. LLC 1st Lien Term Loan B3		6.858% - 6.90% (1 mo. USD LIBOR + 1.75% (3 mo. USD LIBOR + 1.75%	) )	12/31/2025		1,096,885		1,090,029
Total Floating Rate Loans (cost $10,993,258)								10,940,177
FOREIGN GOVERNMENT OBLIGATIONS(b) 3.90%
Canada 1.04%
Province of Quebec		3.625%		4/13/2028		13,441,000		13,163,476
Costa Rica 0.18%
Costa Rica Government International Bonds†		6.55%		4/3/2034		2,240,000		2,266,320

70 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Japan 0.45%
Japan International Cooperation Agency	4.00%		5/23/2028	$	5,690,000	$	5,608,158
Mexico 0.28%
Mexico Government International Bonds	4.875%		5/19/2033		3,700,000		3,541,088
Panama 0.23%
Panama Government International Bonds	2.252%		9/29/2032		3,830,000		2,950,745
Saudi Arabia 0.23%
Saudi Government International Bonds†	4.875%		7/18/2033		2,906,000		2,932,622
Senegal 0.10%
Senegal Government International Bonds†	6.25%		5/23/2033		1,500,000		1,200,210
Sri Lanka 0.01%
Sri Lanka Government International Bonds†(f)	5.875%		7/25/2022		290,000		117,448
Sweden 1.31%
Kommuninvest I Sverige AB†	4.25%		12/10/2025		6,272,000		6,249,820
Svensk Exportkredit AB	4.00%		7/15/2025		10,378,000		10,269,183
Total							16,519,003
Turkey 0.07%
Turkiye Ihracat Kredi Bankasi AS†	9.375%		1/31/2026		900,000		867,033
Total Foreign Government Obligations (cost $49,848,240)							49,166,103
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.40%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 145 Class A2	2.58%		5/25/2032		2,865,000		2,491,973
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series G07 Class A2	3.123%	#(g)	8/25/2032		2,769,000		2,511,903
Government National Mortgage Association Series 2017-76 Class AS	2.65%		11/16/2050		4,400		3,885
Total Government Sponsored Enterprises Collateralized Mortgage Obligations (cost $4,948,031)							5,007,761

See Notes to Financial Statements. 71

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS 26.35%
Federal Home Loan Bank	5.06%	#	8/2/2023	$	25,170,000	$	25,170,072
Federal Home Loan Bank	5.08% (SOFR + 2.00%	)#	9/19/2023		12,240,000		12,249,111
Federal Home Loan Mortgage Corp.	2.50%		11/1/2050 - 7/1/2051		7,105,451		6,132,806
Federal Home Loan Mortgage Corp.	3.50%		2/1/2046		872,245		820,403
Federal Home Loan Mortgage Corp.	4.50%		8/1/2052		2,203,023		2,161,747
Federal Home Loan Mortgage Corp.	5.00%		7/1/2052 - 8/1/2052		4,829,266		4,804,896
Federal National Mortgage Association	2.00%		6/1/2051 - 11/1/2051		1,893,771		1,564,539
Federal National Mortgage Association	2.50%		1/1/2051 - 5/1/2052		16,774,283		14,503,461
Federal National Mortgage Association	3.00%		12/1/2048 - 1/1/2051		1,697,189		1,535,404
Federal National Mortgage Association	3.50%		7/1/2045 - 4/1/2052		3,228,069		3,002,660
Federal National Mortgage Association	4.00%		5/1/2052 - 6/1/2052		3,374,822		3,223,322
Federal National Mortgage Association	5.00%		7/1/2052 - 8/1/2052		3,461,107		3,447,994
Government National Mortgage Association(h)	3.00%		TBA		15,617,000		14,070,856
Government National Mortgage Association(h)	3.50%		TBA		4,661,000		4,327,993
Government National Mortgage Association(h)	4.00%		TBA		5,432,000		5,167,614
Government National Mortgage Association(h)	4.50%		TBA		7,586,000		7,374,866
Government National Mortgage Association(h)	5.00%		TBA		44,519,000		43,965,758
Government National Mortgage Association(h)	5.50%		TBA		31,265,000		31,243,017
Government National Mortgage Association(h)	6.00%		TBA		32,659,000		32,957,524
Government National Mortgage Association(h)	6.50%		TBA		14,619,000		14,864,554
Uniform Mortgage-Backed Security(h)	2.00%		TBA		4,074,000		3,355,531
Uniform Mortgage-Backed Security(h)	2.50%		TBA		7,849,000		6,720,246
Uniform Mortgage-Backed Security(h)	3.00%		TBA		10,549,000		9,375,218
Uniform Mortgage-Backed Security(h)	3.50%		TBA		6,455,000		5,936,835
Uniform Mortgage-Backed Security(h)	4.00%		TBA		6,488,000		6,134,201
Uniform Mortgage-Backed Security(h)	4.50%		TBA		4,007,000		3,883,268
Uniform Mortgage-Backed Security(h)	5.00%		TBA		20,219,000		20,025,748

72 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS (continued)
Uniform Mortgage-Backed Security(h)		5.50%		TBA	$	23,667,000	$	23,721,581
Uniform Mortgage-Backed Security(h)		6.00%		TBA		12,860,000		13,009,699
Uniform Mortgage-Backed Security(h)		6.50%		TBA		7,151,000		7,315,808
Total Government Sponsored Enterprises Pass-Throughs (cost $332,778,678)								332,066,732
MUNICIPAL BONDS 0.28%
Government 0.14%
State of Illinois GO		5.10%		6/1/2033		1,760,000		1,741,723
Natural Gas 0.14%
Texas Natural Gas Securitization Finance Corp.		5.102%		4/1/2035		1,689,000		1,733,078
Total Municipal Bonds (cost $3,462,022)								3,474,801
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 7.18%
Angel Oak Mortgage Trust Series 2020-1 Class A1†		2.466%	#(g)	12/25/2059		22,807		21,420
BBCMS Mortgage Trust Series 2018-TALL Class E†		7.695% (1 mo. USD LIBOR + 2.59%	)#	3/15/2037		64,000		38,621
BBCMS Mortgage Trust Series 2019-BWAY Class A†	6.13% (1 mo. USD Term SOFR + 1.07%		)#	11/15/2034		311,000		256,386
BBCMS Mortgage Trust Series 2019-BWAY Class B†	6.484% (1 mo. USD Term SOFR + 1.42%		)#	11/15/2034		87,000		69,903
BBCMS Mortgage Trust Series 2019-BWAY Class C†	6.784% (1 mo. USD Term SOFR + 1.72%		)#	11/15/2034		350,000		270,558
BFLD Trust Series 2019-DPLO Class F†	7.714% (1 mo. USD Term SOFR + 2.65%		)#	10/15/2034		1,070,000		1,049,349
BHMS Mortgage Trust Series 2018-ATLS Class A†	6.357% (1 mo. USD LIBOR + 1.25%		)#	7/15/2035		3,384,409		3,293,296
BHMS Mortgage Trust Series 2018-ATLS Class C†		7.007% (1 mo. USD LIBOR + 1.90%	)#	7/15/2035		2,000,000		1,902,489
BMO Mortgage Trust Series 2023-C5 Class A4(i)		5.494%		6/15/2056		2,356,000		2,408,178
BRAVO Residential Funding Trust Series 2021-NQM2 Class A1†		0.97%	#(g)	3/25/2060		1,052,240		982,103
BX Commercial Mortgage Trust Series 2021-ACNT Class A†		5.958% (1 mo. USD LIBOR + 0.85%	)#	11/15/2038		2,250,000		2,183,309

See Notes to Financial Statements. 73

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date		Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
BX Commercial Mortgage Trust Series 2021-XL2 Class A†		5.796% (1 mo. USD LIBOR + 0.69%	)#	10/15/2038		$	2,780,145	$	2,689,713
BX Trust Series 2021-ARIA Class E†		7.352% (1 mo. USD LIBOR + 2.24%	)#	10/15/2036			2,000,000		1,885,081
CF Trust Series 2019-BOSS Class A1†		8.357% (1 mo. USD LIBOR + 3.25%	)#	12/15/2024			222,000		209,321
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class AS		3.849%		2/10/2049			97,572		90,198
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class D†		2.85%		2/10/2049			485,000		184,767
Citigroup Mortgage Loan Trust Series 2022-INV1 Class A3B†		3.00%	#(g)	11/27/2051			2,497,071		2,115,730
COMM Mortgage Trust Series 2014-CR17 Class AM		4.174%		5/10/2047			2,170,000		2,100,547
COMM Mortgage Trust Series 2015-LC21 Class AM		4.043%	#(g)	7/10/2048			1,994,000		1,873,745
Commercial Mortgage Pass-Through Certificates Series 2012-LTRT Class A2†		3.40%		10/5/2030			87,196		76,391
Commercial Mortgage Pass-Through Certificates Series 2014-UBS4 Class D†		4.712%	#(g)	8/10/2047			835,000		590,425
Commercial Mortgage Pass-Through Certificates Series 2014-UBS6 Class B		4.349%	#(g)	12/10/2047			50,000		44,931
Commercial Mortgage Pass-Through Certificates Series 2015-DC1 Class D†		4.295%	#(g)	2/10/2048			707,000		516,532
Commercial Mortgage Pass-Through Certificates Series 2015-PC1 Class C		4.293%	#(g)	7/10/2050			10,000		8,730
Credit Suisse Mortgage Capital Certificates Series 2020-SPT1 Class A1†		1.616%	(d)	4/25/2065			33,419		32,828
Credit Suisse Mortgage Capital Certificates Trust Series 2020-NQM1 Class A1†		1.208%	(d)	5/25/2065			272,792		247,089
CS Master Trust Series 2021-AHP Class A†	9.115% (1 mo. USD Term SOFR + 4.06%		)#	4/15/2025			400,000		399,213
CS Master Trust Series 2021-BLUF Class A†		9.276% (1 mo. USD LIBOR + 4.18%	)#	4/15/2023	(j)		200,000		190,853	(k)
CSAIL Commercial Mortgage Trust Series 2019-C18 Class AS		3.321%		12/15/2052			214,129		181,611
CSMC Trust Series 2020-AFC1 Class A1†		2.24%	#(g)	2/25/2050			71,693		66,746
Deephaven Residential Mortgage Trust Series 2021-3 Class A1†		1.194%	#(g)	8/25/2066			2,560,672		2,186,305
Ellington Financial Mortgage Trust Series 2020-2 Class A1†		1.178%	#(g)	10/25/2065			43,893		39,625

74 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Ellington Financial Mortgage Trust Series 2023-1 Class A1†		5.732%	(d)	2/25/2068	$	3,021,764	$	3,007,269
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2022-DNA2 Class M1B†	7.373% (30 day USD SOFR Average + 2.40%		)#	2/25/2042		1,800,000		1,778,876
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2023-HQA1 Class M1A†		6.923%	#	5/25/2043		1,850,000		1,850,714
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-DNA2 Class M1B†		8.231%	#	4/25/2043		2,450,000		2,459,760
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R02 Class 1M2†	8.323% (30 day USD SOFR Average + 3.35%		)#	1/25/2043		850,000		861,538
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2019-R05 Class 1B1†		9.238% (1 mo. USD LIBOR + 4.10%	)#	7/25/2039		1,210,056		1,244,381
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R05 Class 2M1†	6.873% (30 day USD SOFR Average + 1.90%		)#	4/25/2042		1,994,387		1,998,235
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R06 Class 1M1†	7.723% (30 day USD SOFR Average + 2.75%		)#	5/25/2042		1,596,032		1,633,361
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R08 Class 1M1†	7.523% (30 day USD SOFR Average + 2.55%		)#	7/25/2042		2,528,126		2,558,250
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M1†	7.381% (30 day USD SOFR Average + 2.40%		)#	12/25/2042		2,366,909		2,385,120
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R02 Class 1M1†	7.273% (30 day USD SOFR Average + 2.30%		)#	1/25/2043		2,062,113		2,076,734
Flagstar Mortgage Trust Series 2021-4 Class A1†		2.50%	#(g)	6/1/2051		4,985,403		4,062,272
Freddie Mac STACR REMIC Trust Series 2021-HQA3 Class M1†	5.823% (30 day USD SOFR Average + 0.85%		)#	9/25/2041		1,384,995		1,342,549

See Notes to Financial Statements. 75

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount			Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac STACR REMIC Trust Series 2021-HQA4 Class M1†	5.923% (30 day USD SOFR Average + 0.95%		)#	12/25/2041	$	645,720		$	623,978
Freddie Mac STACR REMIC Trust Series 2022-HQA1 Class M1A†	7.073% (30 day USD SOFR Average + 2.10%		)#	3/25/2042		1,838,517			1,841,418
Freddie Mac STACR REMIC Trust Series 2022-HQA3 Class M1A†	7.273% (30 day USD SOFR Average + 2.30%		)#	8/25/2042		3,139,759			3,143,672
Great Wolf Trust Series 2019-WOLF Class A†		6.208% (1 mo. USD Term SOFR + 1.15%	)#	12/15/2036		512,000			505,490
GS Mortgage Securities Corp. Trust Series 2018-RIVR Class A†		6.057% (1 mo. USD LIBOR + 0.95%	)#	7/15/2035		99,828			91,221
GS Mortgage Securities Corp. Trust Series 2019-70P Class B†		6.427% (1 mo. USD LIBOR + 1.32%	)#	10/15/2036		812,724			758,919
GS Mortgage Securities Corp. Trust Series 2019-70P Class XCP†		Zero Coupon	#(g)	10/15/2036		86,776,000			1,623
GS Mortgage Securities Corp. Trust Series 2019-SMP Class B†		6.607% (1 mo. USD LIBOR + 1.50%	)#	8/15/2032		525,000			505,762
GS Mortgage Securities Corp. Trust Series 2019-SMP Class XCP†		Zero Coupon	#(g)	8/15/2032		36,803,000	(l)		784
GS Mortgage Securities Corp. Trust Series 2022-ECI Class A†		7.254% (1 mo. USD Term SOFR + 2.19%	)#	8/15/2039		640,000			639,972
GS Mortgage Securities Corp. Trust Series 2023-FUN Class A†	7.151% (1 mo. USD Term SOFR + 2.09%		)#	3/15/2028		2,500,000			2,462,217
GS Mortgage Securities Trust Series 2014-GC26 Class C		4.514%	#(g)	11/10/2047		50,000			40,254	(k)
GS Mortgage Securities Trust Series 2021-PJ2 Class A2†		2.50%	#(g)	7/25/2051		2,082,687			1,702,229
GS Mortgage Securities Trust Series 2023-PJ1 Class A4†		3.50%	#(g)	2/25/2053		1,816,924			1,593,324
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class D†		3.805%	#(g)	6/10/2027		100,000			2,258
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class A†		6.377% (1 mo. USD LIBOR + 1.27%	)#	11/15/2035		10,000			9,645

76 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class B†		6.707% (1 mo. USD LIBOR + 1.60%	)#	11/15/2035	$	10,000	$	9,555
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class A†	6.924% (1 mo. USD Term SOFR + 1.86%		)#	9/15/2029		183,552		183,707	(k)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class B†	7.824% (1 mo. USD Term SOFR + 2.76%		)#	9/15/2029		325,000		325,353	(k)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class C†	8.524% (1 mo. USD Term SOFR + 3.46%		)#	9/15/2029		325,000		325,134	(k)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class D†	9.524% (1 mo. USD Term SOFR + 4.46%		)#	9/15/2029		325,000		324,907	(k)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class E†	10.524% (1 mo. USD Term SOFR + 5.46%		)#	9/15/2029		325,000		324,274	(k)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2020-MKST Class E†		7.607% (1 mo. USD LIBOR + 2.50%	)#	12/15/2036		1,000,000		697,178
JP Morgan Mortgage Trust Series 2021-10 Class A3†		2.50%	#(g)	12/25/2051		3,872,788		3,155,677
JP Morgan Mortgage Trust Series 2021-4 Class A3†		2.50%	#(g)	8/25/2051		6,015,052		4,916,243
KIND Trust Series 2021-KIND Class D†	7.474% (1 mo. USD Term SOFR + 2.41%		)#	8/15/2038		466,628		422,465
MTN Commercial Mortgage Trust Series 2022-LPFL Class A†	6.456% (1 mo. USD Term SOFR + 1.40%		)#	3/15/2039		2,200,000		2,167,568
Natixis Commercial Mortgage Securities Trust Series 2018-285M Class A†		3.79%	#(g)	11/15/2032		50,000		46,764
Natixis Commercial Mortgage Securities Trust Series 2018-285M Class B†		3.79%	#(g)	11/15/2032		50,000		45,372
Prima Capital CRE Securitization Ltd. Series 2019-RK1 Class AG†		4.00%		4/15/2038		164,588		143,326	(k)
Prima Capital CRE Securitization Ltd. Series 2019-RK1 Class AT†		4.45%		4/15/2038		100,000		80,558	(k)
Ready Capital Mortgage Financing LLC Series 2022-FL8 Class A†	6.631% (30 day USD SOFR Average + 1.65%		)#	1/25/2037		1,288,742		1,268,742

See Notes to Financial Statements. 77

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
ReadyCap Commercial Mortgage Trust Series 2019-6 Class A†		2.833%		10/25/2052	$	347,168	$	324,370
Residential Mortgage Loan Trust Series 2020-1 Class A1†		2.376%	#(g)	1/26/2060		16,002		15,161
SG Commercial Mortgage Securities Trust Series 2019-787E Class X†		0.305%	#(g)	2/15/2041		1,217,000		21,287
SMRT Commercial Mortgage Trust Series 2022-MINI Class A†	6.06% (1 mo. USD Term SOFR + 1.00%		)#	1/15/2039		1,460,000		1,418,247
Starwood Mortgage Residential Trust Series 2020-1 Class A1†		2.275%	#(g)	2/25/2050		5,434		5,158
Verus Securitization Trust Series 2020-1 Class A1†		2.417%	(d)	1/25/2060		43,414		40,866
Verus Securitization Trust Series 2020-4 Class A1†		1.502%	(d)	5/25/2065		1,244,787		1,144,819
Verus Securitization Trust Series 2020-5 Class A1†		1.218%	(d)	5/25/2065		268,967		244,619
Verus Securitization Trust Series 2021-5 Class A1†		1.013%	#(g)	9/25/2066		2,164,813		1,763,147
Verus Securitization Trust Series 2021-8 Class A1†		1.824%	#(g)	11/25/2066		1,218,808		1,042,799
Vista Point Securitization Trust Series 2020-2 Class A1†		1.475%	#(g)	4/25/2065		113,633		101,268
Wells Fargo Commercial Mortgage Trust Series 2013-LC12 Class B		4.254%	#(g)	7/15/2046		494,000		375,833
Wells Fargo Commercial Mortgage Trust Series 2017-C41 Class AS		3.785%	#(g)	11/15/2050		146,000		133,291
Total Non-Agency Commercial Mortgage-Backed Securities (cost $92,644,626)								90,455,506
U.S. TREASURY OBLIGATIONS 6.41%
U.S. Treasury Bonds		2.25%		5/15/2041		4,904,000		3,796,290
U.S. Treasury Bonds		3.625%		5/15/2053		19,619,000		18,881,755
U.S. Treasury Bonds		3.875%		5/15/2043		42,450,000		41,690,543
U.S. Treasury Inflation-Indexed Bonds(m)		1.50%		2/15/2053		11,133,889		10,804,222
U.S. Treasury Notes		3.875%		4/30/2025		5,693,000		5,631,400
Total U.S. Treasury Obligations (cost $80,871,599)								80,804,210
Total Long-Term Investments (cost $1,458,954,719)								1,437,276,076

78 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 4.98%
U.S. TREASURY OBLIGATIONS 2.07%
U.S. Treasury Bills (cost $26,066,402)	Zero Coupon	11/24/2023	$	26,743,000	$	26,063,112
REPURCHASE AGREEMENTS 2.91%
Repurchase Agreement dated 5/31/2023, 5.080% due 6/1/2023 with Barclays Bank plc collateralized by $25,445,000 of U.S. Treasury Note at 3.750% due 5/31/2030; value: $25,499,707; proceeds: $25,003,241 (cost $24,999,713)				24,999,713		24,999,713
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $13,124,300 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $11,903,125; proceeds: $11,670,556 (cost $11,669,713)				11,669,713		11,669,713
Total Repurchase Agreements (cost $36,669,426)						36,669,426
Total Short-Term Investments (cost $62,735,828)						62,732,538
Total Investments in Securities 119.05% (cost $1,521,690,547)						1,500,008,614
Other Assets and Liabilities – Net(n) (19.05)%						(239,986,698	)
Net Assets 100.00%					$	1,260,021,916

CAD	Canadian Dollar.
EUR	Euro.
CMT	Constant Maturity Rate.
ICE	Intercontinental Exchange.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $502,421,683, which represents 39.87% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Investment in non-U.S. dollar denominated securities.
(b)	Foreign security traded in U.S. dollars.
(c)	Securities purchased on a when-issued basis.
(d)	Step Bond – Security with a predetermined schedule of interest rate changes.
(e)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(f)	Defaulted (non-income producing security).
(g)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(h)	To-be-announced (“TBA”). Security purchased on a forward commitment basis with an approximate principal and maturity date. Actual principal and maturity will be determined upon settlement when the specific mortgage pools are assigned.
(i)	Securities purchased on a when-issued basis (See Note 2(j)).
(j)	Maturity date has passed. As of May 31, 2023, an extension is available to June 15, 2024.
(k)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.

See Notes to Financial Statements. 79

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

(m)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(n)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

Centrally Cleared Credit Default Swap Contracts on Indexes - Sell Protection at May 31, 2023⁽¹⁾:

Referenced Indexes(2)	Central Clearing Party	Fund Receives (Quarterly)	Termination Date	Notional Amount	Payments Upfront(3)	Unrealized Appreciation(4)	Value
Markit CDX.NA.HY.S40(5)	Goldman Sachs	5.000%	6/20/2028	$42,519,000	$445,612	$7,928	$453,540

(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.
(2)	The Referenced Index is for the Centrally Cleared Credit Default Swap Contracts on Indexes, which is comprised of a basket of high yield securities.
(3)	Upfront payments paid (received) by Central Clearing Party are presented net of amortization.
(4)	Total unrealized appreciation on Credit Default Swap Contracts on Indexes amounted to $7,928. Total unrealized depreciation on Credit Default Swap Contracts on Indexes amounted to $0.
(5)	Central Clearinghouse: Intercontinental Exchange (ICE).

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Appreciation
Canadian dollar	Sell	State Street Bank and Trust	7/20/2023	775,000	$576,826	$571,555	$5,271
Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination  Date	U.S. $ Current Value	Unrealized Depreciation
Euro	Buy	Morgan Stanley	6/13/2023	3,626,000	$ 3,970,220	$ 3,878,247	$ (91,973		)
Euro	Buy	State Street Bank and Trust	6/13/2023	2,082,000	2,249,876	2,226,837	(23,039		)
Euro	Sell	State Street Bank and Trust	6/13/2023	12,102,000	12,875,560	12,943,889		(68,329	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts								$(183,341	)

80 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORE PLUS BOND FUND May 31, 2023

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 10-Year Treasury Note	September 2023	71	Long	$	8,103,773		$	8,127,281			$	23,508
U.S. 2-Year Treasury Note	September 2023	893	Long		183,401,666			183,804,517				402,851
U.S. Long Bond	September 2023	258	Long		32,810,100			33,112,687				302,587
U.S. Ultra Treasury Bond	September 2023	601	Long		81,059,269			82,261,875				1,202,606
Total Unrealized Appreciation on Futures Contracts											$	1,931,552
Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
Euro-Bobl	September 2023	15	Short	EUR	(1,752,710	)	EUR	(1,761,900	)		$	(9,823	)
Euro-Bund	September 2023	36	Short		(4,868,625	)		(4,871,520	)			(3,094	)
U.S. 10-Year Ultra Treasury Bond	September 2023	701	Short	$	(83,978,838	)	$	(84,437,641	)			(458,803	)
U.S. 5-Year Treasury Note	September 2023	124	Long		13,540,399			13,525,688				(14,711	)
Total Unrealized Depreciation on Futures Contracts											$	(486,431	)

See Notes to Financial Statements. 81

Schedule of Investments (unaudited)(concluded)

CORE PLUS BOND FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities	$	–		$	179,792,767		$	–	$	179,792,767
Corporate Bonds		–			685,568,019			–		685,568,019
Floating Rate Loans		–			10,940,177			–		10,940,177
Foreign Government Obligations		–			49,166,103			–		49,166,103
Government Sponsored Enterprises Collateralized Mortgage Obligations		–			5,007,761			–		5,007,761
Government Sponsored Enterprises Pass-Throughs		–			332,066,732			–		332,066,732
Municipal Bonds		–			3,474,801			–		3,474,801
Non-Agency Commercial Mortgage-Backed Securities		–			88,517,140			1,938,366		90,455,506
U.S. Treasury Obligations		–			80,804,210			–		80,804,210
Short-Term Investments
U.S. Treasury Obligations		–			26,063,112			–		26,063,112
Repurchase Agreements		–			36,669,426			–		36,669,426
Total	$	–		$	1,498,070,248		$	1,938,366	$	1,500,008,614
Other Financial Instruments
Centrally Cleared Credit Default Swap Contracts
Assets	$	–		$	453,540		$	–	$	453,540
Liabilities		–			–			–		–
Forward Foreign Currency Exchange Contracts
Assets		–			5,271			–		5,271
Liabilities		–			(183,341	)		–		(183,341	)
Futures Contracts
Assets		1,931,552			–			–		1,931,552
Liabilities		(486,431	)		–			–		(486,431	)
Total	$	1,445,121		$	275,470		$	–	$	1,720,591

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

82 See Notes to Financial Statements.

Schedule of Investments (unaudited)

CORPORATE BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 97.22%
CORPORATE BONDS 92.92%
Agriculture 2.55%
BAT Capital Corp.		7.75%		10/19/2032	$	75,000	$	82,148
Cargill, Inc.†		4.00%		6/22/2032		44,000		41,131
Philip Morris International, Inc.		5.625%		11/17/2029		53,000		54,340
Total								177,619
Airlines 1.16%
British Airways Pass-Through Trust Series 2020-1 Class A (United Kingdom)†(a)		4.25%		5/15/2034		86,624		80,694
Banks 25.71%
Bank of America Corp.		2.299% (SOFR + 1.22%	)#	7/21/2032		26,000		20,740
Bank of America Corp.		2.482% (5 yr. CMT + 1.20%	)#	9/21/2036		10,000		7,598
Bank of America Corp.		2.687% (SOFR + 1.32%	)#	4/22/2032		89,000		73,609
Bank of America Corp.		3.593% (3 mo. USD Term SOFR + 1.63%	)#	7/21/2028		157,000		146,479
Bank of Montreal (Canada)(a)		3.803% (5 yr. USD Swap + 1.43%	)#	12/15/2032		67,000		59,829
Bank of New York Mellon Corp.		4.596% (SOFR + 1.76%	)#	7/26/2030		51,000		49,685
Bank of New York Mellon Corp.		4.967%	#	4/26/2034		25,000		24,871
BankUnited, Inc.		5.125%		6/11/2030		28,000		19,926
Citigroup, Inc.		2.561% (SOFR + 1.17%	)#	5/1/2032		144,000		118,308
Citigroup, Inc.		6.174%	#	5/25/2034		32,000		32,472
Goldman Sachs Group, Inc.		2.383% (SOFR + 1.25%	)#	7/21/2032		190,000		153,124
Huntington Bancshares, Inc.		2.487% (5 yr. CMT + 1.17%	)#	8/15/2036		22,000		15,487
JPMorgan Chase & Co.	2.58% (3 mo. USD Term SOFR + 1.25%		)#	4/22/2032		115,000		95,802
JPMorgan Chase & Co.		2.963% (SOFR + 1.26%	)#	1/25/2033		50,000		42,343
JPMorgan Chase & Co.		4.912% (SOFR + 2.08%	)#	7/25/2033		50,000		49,203
M&T Bank Corp.		5.053% (SOFR + 1.85%	)#	1/27/2034		10,000		9,236

See Notes to Financial Statements. 83

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Macquarie Group Ltd. (Australia)†(a)		4.654% (3 mo. USD LIBOR + 1.73%	)#	3/27/2029	$	75,000	$	72,072
Morgan Stanley		2.239% (SOFR + 1.18%	)#	7/21/2032		29,000		23,158
Morgan Stanley		2.484% (SOFR + 1.36%	)#	9/16/2036		33,000		24,935
Morgan Stanley	4.431% (3 mo. USD Term SOFR + 1.63%		)#	1/23/2030		130,000		124,907
Morgan Stanley		6.342% (SOFR + 2.56%	)#	10/18/2033		31,000		33,226
Royal Bank of Canada (Canada)(a)		5.00%		2/1/2033		40,000		39,477
State Street Corp.		4.164% (SOFR + 1.73%	)#	8/4/2033		49,000		45,592
Toronto-Dominion Bank (Canada)(a)		4.456%		6/8/2032		66,000		62,454
U.S. Bancorp		4.839% (SOFR + 1.60%	)#	2/1/2034		37,000		34,737
U.S. Bancorp		4.967% (SOFR + 2.11%	)#	7/22/2033		34,000		30,824
UBS Group AG (Switzerland)†(a)		4.125%		4/15/2026		200,000		191,421
Wells Fargo & Co.		2.393% (SOFR + 2.10%	)#	6/2/2028		75,000		67,108
Wells Fargo & Co.		3.35% (SOFR + 1.50%	)#	3/2/2033		17,000		14,614
Wells Fargo & Co.		4.897% (SOFR + 2.10%	)#	7/25/2033		70,000		67,589
Wells Fargo & Co.		5.389%	#	4/24/2034		12,000		12,023
Western Alliance Bancorp	3.00% (3 mo. USD Term SOFR + 2.25%		)#	6/15/2031		40,000		28,400
Total								1,791,249
Beverages 0.71%
Brown-Forman Corp.		4.75%		4/15/2033		13,000		13,041
Constellation Brands, Inc.		3.15%		8/1/2029		40,000		36,125
Total								49,166
Biotechnology 1.85%
Amgen, Inc.		4.05%		8/18/2029		60,000		57,201
Amgen, Inc.		4.875%		3/1/2053		35,000		31,674
Amgen, Inc.		5.25%		3/2/2033		40,000		40,158
Total								129,033

84 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Chemicals 0.28%
International Flavors & Fragrances, Inc.†	2.30%		11/1/2030	$	25,000	$	19,869
Commercial Services 0.76%
Global Payments, Inc.	5.30%		8/15/2029		54,000		53,148
Computers 0.88%
Booz Allen Hamilton, Inc.†	3.875%		9/1/2028		36,000		32,315
Leidos Holdings, Inc.	5.95%		12/1/2040		20,000		19,062
Leidos, Inc.	5.75%		3/15/2033		10,000		9,936
Total							61,313
Diversified Financial Services 4.64%
Aircastle Ltd.†	2.85%		1/26/2028		34,000		29,100
American Express Co.	4.42% (SOFR + 1.76%	)#	8/3/2033		41,000		38,791
American Express Co.	4.989% (SOFR + 2.26%	)#	5/26/2033		25,000		24,239
American Express Co.	5.043%	#	5/1/2034		35,000		34,573
Aviation Capital Group LLC†	1.95%		1/30/2026		56,000		50,050
Aviation Capital Group LLC†	3.50%		11/1/2027		15,000		13,401
Avolon Holdings Funding Ltd. (Ireland)†(a)	4.25%		4/15/2026		40,000		37,058
Avolon Holdings Funding Ltd. (Ireland)†(a)	6.375%		5/4/2028		20,000		19,557
BlackRock, Inc.	4.75%		5/25/2033		28,000		27,724
Intercontinental Exchange, Inc.	4.35%		6/15/2029		29,000		28,586
LPL Holdings, Inc.†	4.375%		5/15/2031		23,000		20,019
Total							323,098
Electric 12.53%
AEP Texas, Inc.	5.40%		6/1/2033		9,000		9,021
AEP Transmission Co. LLC	5.40%		3/15/2053		26,000		26,474
Baltimore Gas & Electric Co.	4.55%		6/1/2052		28,000		24,897
Constellation Energy Generation LLC	5.80%		3/1/2033		16,000		16,457
Constellation Energy Generation LLC	6.25%		10/1/2039		14,000		14,548
DTE Electric Co.	5.40%		4/1/2053		20,000		20,353
DTE Energy Co.	2.95%		3/1/2030		30,000		26,231
Duke Energy Corp.	4.50%		8/15/2032		25,000		23,647
Duke Energy Progress LLC	5.25%		3/15/2033		22,000		22,473
Duquesne Light Holdings, Inc.†	2.775%		1/7/2032		38,000		29,926
Entergy Mississippi LLC	5.00%		9/1/2033		25,000		24,758
Evergy Metro, Inc.	4.95%		4/15/2033		42,000		41,427
FirstEnergy Transmission LLC†	4.55%		4/1/2049		12,000		9,866

See Notes to Financial Statements. 85

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Electric (continued)
Florida Power & Light Co.	4.625%	5/15/2030	$	39,000	$	38,680
Georgia Power Co.	4.75%	9/1/2040		39,000		36,057
IPALCO Enterprises, Inc.	4.25%	5/1/2030		39,000		35,363
ITC Holdings Corp.†(b)	5.40%	6/1/2033		24,000		24,039
Liberty Utilities Finance GP 1†	2.05%	9/15/2030		33,000		25,679
Louisville Gas & Electric Co.	5.45%	4/15/2033		26,000		26,586
NRG Energy, Inc.†	4.45%	6/15/2029		49,000		43,836
Oglethorpe Power Corp.	5.05%	10/1/2048		19,000		16,749
Oglethorpe Power Corp.	5.95%	11/1/2039		15,000		14,869
Ohio Edison Co.	8.25%	10/15/2038		28,000		33,745
Oklahoma Gas & Electric Co.	5.40%	1/15/2033		27,000		27,638
Oklahoma Gas & Electric Co.	5.60%	4/1/2053		23,000		23,112
Pacific Gas & Electric Co.	4.55%	7/1/2030		56,000		51,074
Pacific Gas & Electric Co.	6.15%	1/15/2033		18,000		17,776
Pacific Gas & Electric Co.	6.70%	4/1/2053		13,000		12,695
Public Service Co. of Colorado	5.25%	4/1/2053		23,000		22,773
Puget Energy, Inc.	4.10%	6/15/2030		60,000		55,354
Virginia Electric & Power Co.	5.45%	4/1/2053		24,000		23,573
Vistra Operations Co. LLC†	3.55%	7/15/2024		55,000		53,245
Total						872,921
Electronics 0.28%
Trimble, Inc.	6.10%	3/15/2033		19,000		19,252
Engineering & Construction 0.41%
Jacobs Engineering Group, Inc.	5.90%	3/1/2033		29,000		28,769
Environmental Control 0.43%
Republic Services, Inc.	5.00%	4/1/2034		30,000		30,062
Food 0.89%
Kellogg Co.	5.25%	3/1/2033		32,000		32,446
McCormick & Co., Inc.	4.95%	4/15/2033		30,000		29,382
Total						61,828
Gas 3.57%
CenterPoint Energy Resources Corp.	5.40%	3/1/2033		19,000		19,341
National Fuel Gas Co.	3.95%	9/15/2027		34,000		31,865
NiSource, Inc.	1.70%	2/15/2031		40,000		31,380
NiSource, Inc.	2.95%	9/1/2029		10,000		8,819
NiSource, Inc.	5.95%	6/15/2041		30,000		30,805

86 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Gas (continued)
Piedmont Natural Gas Co., Inc.	2.50%	3/15/2031	$	60,000	$	49,369
Southwest Gas Corp.	4.05%	3/15/2032		58,000		52,333
Spire Missouri, Inc.	4.80%	2/15/2033		25,000		24,821
Total						248,733
Hand/Machine Tools 0.79%
Regal Rexnord Corp.†	6.30%	2/15/2030		55,000		54,923
Health Care-Services 3.44%
Centene Corp.	3.375%	2/15/2030		79,000		68,188
Elevance Health, Inc.	4.10%	5/15/2032		43,000		40,468
Elevance Health, Inc.	5.125%	2/15/2053		10,000		9,595
Elevance Health, Inc.	5.50%	10/15/2032		14,000		14,480
HCA, Inc.	5.50%	6/1/2033		40,000		39,943
Humana, Inc.	3.70%	3/23/2029		51,000		47,318
Humana, Inc.	5.875%	3/1/2033		19,000		19,967
Total						239,959
Insurance 4.44%
Assurant, Inc.	3.70%	2/22/2030		40,000		34,758
Brown & Brown, Inc.	4.20%	3/17/2032		30,000		27,196
F&G Annuities & Life, Inc.†	7.40%	1/13/2028		26,000		26,133
Intact Financial Corp. (Canada)†(a)	5.459%	9/22/2032		17,000		17,068
New York Life Global Funding†	4.55%	1/28/2033		14,000		13,650
New York Life Insurance Co.†	4.45%	5/15/2069		50,000		41,905
Protective Life Corp.	8.45%	10/15/2039		33,000		39,145
Selective Insurance Group, Inc.	5.375%	3/1/2049		29,000		26,680
Teachers Insurance & Annuity Association of America†	4.90%	9/15/2044		43,000		39,188
Transatlantic Holdings, Inc.	8.00%	11/30/2039		35,000		43,376
Total						309,099
Internet 1.52%
Amazon.com, Inc.	4.70%	12/1/2032		58,000		58,843
Netflix, Inc.†	5.375%	11/15/2029		47,000		47,372
Total						106,215
Lodging 0.47%
Hyatt Hotels Corp.	1.30%	10/1/2023		33,000		32,500
Machinery-Diversified 1.11%
Flowserve Corp.	2.80%	1/15/2032		40,000		32,007
nVent Finance Sarl (Luxembourg)(a)	4.55%	4/15/2028		48,000		45,351
Total						77,358

See Notes to Financial Statements. 87

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Media 0.31%
FactSet Research Systems, Inc.	3.45%	3/1/2032	$	25,000	$	21,495
Oil & Gas 5.88%
Antero Resources Corp.†	5.375%	3/1/2030		35,000		32,213
Continental Resources, Inc.†	5.75%	1/15/2031		75,000		71,507
Diamondback Energy, Inc.	3.125%	3/24/2031		45,000		38,385
Diamondback Energy, Inc.	6.25%	3/15/2033		25,000		25,972
EQT Corp.	7.00%	2/1/2030		40,000		41,442
Occidental Petroleum Corp.	6.375%	9/1/2028		25,000		25,748
Occidental Petroleum Corp.	6.45%	9/15/2036		10,000		10,185
Occidental Petroleum Corp.	8.875%	7/15/2030		10,000		11,533
Ovintiv, Inc.	6.25%	7/15/2033		35,000		34,718
Ovintiv, Inc.	6.625%	8/15/2037		40,000		39,883
Patterson-UTI Energy, Inc.	5.15%	11/15/2029		45,000		39,615
Viper Energy Partners LP†	5.375%	11/1/2027		40,000		38,520
Total						409,721
Oil & Gas Services 1.01%
Halliburton Co.	7.45%	9/15/2039		30,000		34,391
NOV, Inc.	3.60%	12/1/2029		40,000		35,840
Total						70,231
Pharmaceuticals 4.97%
AbbVie, Inc.	3.20%	11/21/2029		50,000		45,405
Bayer Corp.†	6.65%	2/15/2028		78,000		82,642
Cigna Group	6.125%	11/15/2041		45,000		48,164
CVS Health Corp.	3.25%	8/15/2029		25,000		22,621
CVS Health Corp.	4.78%	3/25/2038		39,000		36,096
CVS Health Corp.	5.05%	3/25/2048		27,000		24,410
CVS Health Corp.(b)	5.25%	1/30/2031		23,000		23,109
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(a)	4.75%	5/19/2033		29,000		29,130
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(a)	5.34%	5/19/2063		35,000		35,075
Total						346,652
Pipelines 1.81%
Eastern Gas Transmission & Storage, Inc.	3.00%	11/15/2029		55,000		48,896
Eastern Gas Transmission & Storage, Inc.	4.60%	12/15/2044		35,000		29,590
NGPL PipeCo LLC†	4.875%	8/15/2027		50,000		47,865
Total						126,351

88 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
REITS 3.60%
American Tower Corp.		3.80%		8/15/2029	$	50,000	$	46,154
American Tower Corp.		5.55%		7/15/2033		9,000		9,063
Crown Castle, Inc.		3.30%		7/1/2030		69,000		60,998
EPR Properties		4.95%		4/15/2028		28,000		24,285
GLP Capital LP/GLP Financing II, Inc.		5.75%		6/1/2028		45,000		43,511
VICI Properties LP/VICI Note Co., Inc.†		4.625%		6/15/2025		69,000		66,658
Total								250,669
Retail 0.78%
Lowe’s Cos., Inc.		5.00%		4/15/2033		55,000		54,512
Semiconductors 0.75%
Broadcom, Inc.†		4.15%		4/15/2032		58,000		52,239
Software 3.10%
MSCI, Inc.†		3.625%		11/1/2031		35,000		29,259
Oracle Corp.		5.375%		7/15/2040		73,000		69,647
Oracle Corp.		6.125%		7/8/2039		30,000		30,811
ServiceNow, Inc.		1.40%		9/1/2030		35,000		27,866
Workday, Inc.		3.80%		4/1/2032		65,000		58,641
Total								216,224
Telecommunications 2.29%
AT&T, Inc.		3.50%		9/15/2053		55,000		38,214
AT&T, Inc.		4.30%		2/15/2030		25,000		23,939
Sprint Capital Corp.		6.875%		11/15/2028		35,000		37,449
T-Mobile USA, Inc.		3.875%		4/15/2030		65,000		60,329
Total								159,931
Total Corporate Bonds (cost $6,987,169)								6,474,833
FLOATING RATE LOANS(c) 1.00%
Chemicals 0.11%
Nutrition & Biosciences, Inc. 3 Year Delayed Draw Term Loan	6.673% (3 mo. USD Term SOFR + 1.50%		)#	2/1/2024		7,472		7,458
Lodging 0.50%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%		)#	6/22/2026		35,000		34,861

See Notes to Financial Statements. 89

Schedule of Investments (unaudited)(continued)

CORPORATE BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Media 0.39%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% - 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%		) )	4/30/2025	$	27,062	$	27,039
Total Floating Rate Loans (cost $69,617)								69,358
MUNICIPAL BONDS 1.31%
Government 0.78%
State of Illinois GO		5.10%		6/1/2033		55,000		54,429
Natural Gas 0.53%
Texas Natural Gas Securitization Finance Corp.		5.169%		4/1/2041		35,000		36,807
Total Municipal Bonds (cost $92,349)								91,236
U.S. TREASURY OBLIGATIONS 1.99%
U.S. Treasury Bonds		2.25%		5/15/2041		15,000		11,612
U.S. Treasury Bonds		3.625%		5/15/2053		51,000		49,084
U.S. Treasury Bonds		3.875%		5/15/2043		38,000		37,320
U.S. Treasury Notes		3.50%		4/30/2028		41,000		40,481
Total U.S. Treasury Obligations (cost $137,655)								138,497
Total Long-Term Investments (cost $7,286,790)								6,773,924
SHORT-TERM INVESTMENTS 0.63%
REPURCHASE AGREEMENTS 0.63%
Repurchase Agreement dated 5/31/2023, 5.100% due 6/1/2023 with TD Securities USA LLC collateralized by $46,000 of U.S. Treasury Bond at 3.875% due 5/15/2043; value: $45,093; proceeds: $44,172 (cost $44,166)						44,166		44,166
Total Investments in Securities 97.85% (cost $7,330,956)								6,818,090
Other Assets and Liabilities – Net(d) 2.15%								149,925
Net Assets 100.00%							$	6,968,015

CMT	Constant Maturity Rate.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $1,454,420, which represents 20.87% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Foreign security traded in U.S. dollars.
(b)	Securities purchased on a when-issued basis (See Note 2(j)).

90 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

CORPORATE BOND FUND May 31, 2023

(c)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(d)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on futures contracts as follows:

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. Ultra Treasury Bond	September 2023	5	Long	$	674,370		$	684,375			$10,005
Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
U.S. 10-Year Treasury Note	September 2023	11	Short	$	(1,257,331	)	$	(1,259,156	)		$(1,825	)
U.S. 10-Year Ultra Treasury Bond	September 2023	6	Short		(718,890	)		(722,719	)		(3,829	)
U.S. 2-Year Treasury Note	September 2023	2	Long		411,841			411,656			(185	)
U.S. 5-Year Treasury Note	September 2023	9	Long		982,849			981,703			(1,146	)
Total Unrealized Depreciation on Futures Contracts											$(6,985	)

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2		Level 3		Total
Long-Term Investments
Corporate Bonds	$	–		$	6,474,833	$	–	$	6,474,833
Floating Rate Loans		–			69,358		–		69,358
Municipal Bonds		–			91,236		–		91,236
U.S. Treasury Obligations		–			138,497		–		138,497
Short-Term Investments
Repurchase Agreements		–			44,166		–		44,166
Total	$	–		$	6,818,090	$	–	$	6,818,090
Other Financial Instruments
Futures Contracts
Assets	$	10,005		$	–	$	–	$	10,005
Liabilities		(6,985	)		–		–		(6,985	)
Total	$	3,020		$	–	$	–	$	3,020

(1)	Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Financial Statements. 91

Schedule of Investments (unaudited)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 91.91%
ASSET-BACKED SECURITIES 0.61%
Other
Apidos CLO XXII Series 2015-22A Class BR†	7.20% (3 mo. USD LIBOR + 1.95%	)#	4/20/2031	$	2,500,000	$	2,404,793
Atrium XIII Series 13A Class C†	7.073% (3 mo. USD LIBOR + 1.80%	)#	11/21/2030		4,500,000		4,296,746
Benefit Street Partners CLO XI Series 2017-11A Class A2R†	6.76% (3 mo. USD LIBOR + 1.50%	)#	4/15/2029		6,405,000		6,297,254
Halcyon Loan Advisors Funding Ltd. Series 2017-2A Class A2†	6.96% (3 mo. USD LIBOR + 1.70%	)#	1/17/2030		10,000,000		9,846,235
Madison Park Funding XVIII Ltd. Series 2015-18A Class CRR†	7.161% (3 mo. USD LIBOR + 1.90%	)#	10/21/2030		3,250,000		3,124,643
Madison Park Funding XXIV Ltd. Series 2016-24A Class BR†	7.06% (3 mo. USD Term SOFR + 2.01%	)#	10/20/2029		4,950,000		4,869,048
Total Asset-Backed Securities (cost $30,866,407)							30,838,719
					Shares
COMMON STOCKS 0.63%
Electric-Generation 0.00%
Frontera Generation Holdings LLC					209,679		3,145	(a)
Machinery 0.08%
TNT Crane & Rigging, Inc.					528,781		4,142,206
Miscellaneous Financials 0.38%
Utex Industries					297,535		19,042,240
Specialty Retail 0.11%
Chinos Intermediate Holdings A, Inc.					707,835		5,202,587
Transportation Infrastructure 0.06%
ACBL Holdings Corp.					95,210		3,141,930
Total Common Stocks (cost $32,122,752)							31,532,108

92 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
CONVERTIBLE BONDS 0.15%
Airlines
JetBlue Airways Corp. (cost $7,847,637)	0.50%	4/1/2026	$	9,486,000	$	7,428,017
CORPORATE BONDS 7.21%
Aerospace/Defense 0.16%
Triumph Group, Inc.	7.75%	8/15/2025		8,172,000		7,832,985
Airlines 0.73%
Allegiant Travel Co.†	7.25%	8/15/2027		8,911,000		8,854,192
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.†	5.75%	1/20/2026		12,500,000		11,635,023
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. (Cayman Islands)†(b)	8.00%	9/20/2025		10,078,359		10,213,459
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(b)	9.50%	6/1/2028		6,785,000		6,217,740
Total						36,920,414
Auto Parts & Equipment 0.06%
ZF North America Capital, Inc.†	6.875%	4/14/2028		2,848,000		2,863,137
Building Materials 0.07%
JELD-WEN, Inc.†	4.625%	12/15/2025		3,433,000		3,318,252
Chemicals 0.70%
CVR Partners LP/CVR Nitrogen Finance Corp.†	6.125%	6/15/2028		12,745,000		11,073,210
LSF11 A5 HoldCo LLC†	6.625%	10/15/2029		10,297,000		8,806,973
Rain CII Carbon LLC/CII Carbon Corp.†	7.25%	4/1/2025		6,361,000		6,173,665
SCIL IV LLC/SCIL USA Holdings LLC†	5.375%	11/1/2026		9,917,000		9,160,565
Total						35,214,413
Coal 0.18%
Warrior Met Coal, Inc.†	7.875%	12/1/2028		9,176,000		9,191,865
Commercial Services 0.11%
BCP V Modular Services Finance PLC(c)	6.75%	11/30/2029	EUR	6,697,000		5,356,800
Diversified Financial Services 1.16%
Bread Financial Holdings, Inc.†	4.75%	12/15/2024	$	6,315,000		5,928,918
Global Aircraft Leasing Co. Ltd. (Cayman Islands)†(b)	6.50%	9/15/2024		16,283,852		14,327,636
Jefferson Capital Holdings LLC†	6.00%	8/15/2026		9,237,000		7,444,902

See Notes to Financial Statements. 93

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Diversified Financial Services (continued)
Midcap Financial Issuer Trust†	6.50%	5/1/2028	$	7,347,000	$	6,468,368
Navient Corp.	6.75%	6/25/2025		14,158,000		13,714,703
PRA Group, Inc.†	5.00%	10/1/2029		13,498,000		10,141,520
Total						58,026,047
Electric 0.07%
Calpine Corp.†	5.25%	6/1/2026		3,562,000		3,457,412
Energy-Alternate Sources 0.22%
Sunnova Energy Corp.†	5.875%	9/1/2026		9,064,000		7,969,431
TerraForm Power Operating LLC†	4.75%	1/15/2030		3,500,000		3,146,045
Total						11,115,476
Entertainment 0.12%
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.†	7.125%	2/15/2031		5,933,000		5,937,381
Environmental Control 0.14%
Madison IAQ LLC†	5.875%	6/30/2029		9,085,000		6,926,236
Food 0.16%
Chobani LLC/Chobani Finance Corp., Inc.†	7.50%	4/15/2025		8,109,000		8,066,567
Holding Companies-Diversified 0.11%
Benteler International AG (Austria)†(b)	10.50%	5/15/2028		5,591,000		5,703,267
Insurance 0.01%
Ardonagh Midco 2 PLC (United Kingdom)†(b)	11.50%	1/15/2027		620,942		535,399
Internet 0.10%
EquipmentShare.com, Inc.†	9.00%	5/15/2028		5,401,000		4,962,169
Leisure Time 0.16%
Life Time, Inc.†	8.00%	4/15/2026		8,228,000		8,122,751
Machinery-Diversified 0.11%
SPX FLOW, Inc.†	8.75%	4/1/2030		6,295,000		5,423,457
Media 0.31%
CSC Holdings LLC†	4.125%	12/1/2030		7,500,000		5,213,914
iHeartCommunications, Inc.	6.375%	5/1/2026		6,344,000		4,824,369
Urban One, Inc.†	7.375%	2/1/2028		6,363,000		5,733,763
Total						15,772,046

94 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Mining 0.15%
Arconic Corp.†	6.125%	2/15/2028	$	7,636,000	$	7,714,391
Mirabela Nickel Ltd.	1.00%	9/10/2044		51,005		–	(d)(e)
Total						7,714,391
Miscellaneous Manufacturing 0.22%
LSB Industries, Inc.†	6.25%	10/15/2028		12,373,000		11,213,341
Oil & Gas 1.23%
Baytex Energy Corp. (Canada)†(b)	8.50%	4/30/2030		5,404,000		5,288,118
Callon Petroleum Co.†	8.00%	8/1/2028		4,633,000		4,535,948
CITGO Petroleum Corp.†	7.00%	6/15/2025		10,200,000		10,032,924
Civitas Resources, Inc.†	5.00%	10/15/2026		9,243,000		8,699,592
Crescent Energy Finance LLC†	7.25%	5/1/2026		7,626,000		7,100,629
Earthstone Energy Holdings LLC†	8.00%	4/15/2027		9,486,000		9,242,826
Permian Resources Operating LLC†	6.875%	4/1/2027		5,947,000		5,792,497
SM Energy Co.	6.50%	7/15/2028		6,450,000		6,055,389
Tap Rock Resources LLC†	7.00%	10/1/2026		5,537,000		5,194,396
Total						61,942,319
Packaging & Containers 0.10%
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC†	3.25%	9/1/2028		5,567,000		4,762,058
Retail 0.36%
Evergreen Acqco 1 LP/TVI, Inc.†	9.75%	4/26/2028		10,664,000		10,680,583
GPS Hospitality Holding Co. LLC/GPS Finco, Inc.†	7.00%	8/15/2028		11,756,000		7,388,881
Total						18,069,464
Telecommunications 0.10%
Frontier Communications Holdings LLC†	6.00%	1/15/2030		7,244,000		5,090,293
Transportation 0.25%
Carriage Purchaser, Inc.†	7.875%	10/15/2029		6,974,000		5,085,580
Seaspan Corp. (Hong Kong)†(b)	5.50%	8/1/2029		9,592,000		7,552,741
Total						12,638,321
Trucking & Leasing 0.12%
Fortress Transportation & Infrastructure Investors LLC†	6.50%	10/1/2025		6,402,000		6,227,177
Total Corporate Bonds (cost $387,576,269)						362,403,438

See Notes to Financial Statements. 95

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments					Shares		Fair Value
EXCHANGE-TRADED FUNDS 1.11%
Exchange-Traded Funds 0.65%
Invesco Senior Loan ETF(f)						1,579,908	$	32,546,105
Miscellaneous Financials 0.46%
SPDR Blackstone Senior Loan ETF(f)						562,426		23,115,709
Total Exchange-Traded Funds (cost $56,810,202)								55,661,814
		Interest Rate		Maturity Date		Principal Amount
FLOATING RATE LOANS(g) 81.66%
Advertising 0.11%
ABG Intermediate Holdings 2 LLC 2023 Delayed Draw Term loan(h)	0.50%			12/21/2028	$	1,351,308		1,324,559
ABG Intermediate Holdings 2 LLC 2023 Term Loan B2	9.407%			12/21/2028		4,121,489		4,039,904
Total								5,364,463
Aerospace 2.78%
Air Canada 2021 Term Loan B (Canada)(b)	8.839% (3 mo. USD LIBOR + 3.50%		)	8/11/2028		14,885,092		14,863,360
Alloy Finco Ltd. 2020 USD Term Loan B2 (Jersey)(b)	11.773% (3 mo. USD LIBOR + 6.50%		)	3/6/2024		2,980,195		2,847,576
Arcline FM Holdings LLC 2021 1st Lien Term Loan	9.909% (3 mo. USD LIBOR + 4.75%		)	6/23/2028		10,521,979		10,039,757
Atlas CC Acquisition Corp. Term Loan B	9.775% (3 mo. USD Term SOFR + 4.25%		)	5/25/2028		16,039,426		14,263,862
Atlas CC Acquisition Corp. Term Loan C	9.775% (3 mo. USD Term SOFR + 4.25%		)	5/25/2028		3,262,255		2,901,123
Cobham Ultra SeniorCo Sarl USD Term Loan B	8.56% (6 mo. USD LIBOR + 3.50%		)	8/3/2029		11,690,132		11,409,569
Dynasty Acquisition Co., Inc. 2020 CAD Term Loan B2	8.753% (1 mo. USD Term SOFR + 3.50%		)	4/6/2026		4,746,058		4,639,272
Dynasty Acquisition Co., Inc. 2020 Term Loan B1	8.753% (1 mo. USD Term SOFR + 3.50%		)	4/6/2026		8,827,669		8,629,046

96 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Aerospace (continued)
Jazz Acquisition, Inc. 2019 2nd Lien Term Loan	13.15%		6/18/2027	$	5,291,378	$	5,128,218
Jazz Acquisition, Inc. 2019 1st Lien Term Loan	9.253% (1 mo. USD Term SOFR + 4.00%	)	6/19/2026		8,556,905		8,563,579
KKR Apple Bidco LLC 2021 Term Loan	9.268% (1 mo. USD Term SOFR + 2.75%	)	9/23/2028		8,974,411		8,740,717
Peraton Corp. 2nd Lien Term Loan B1	12.979%		2/1/2029		9,071,727		8,647,623
Peraton Corp. Term Loan B	9.003% (1 mo. USD Term SOFR + 3.75%	)	2/1/2028		27,477,542		26,211,652
United Airlines, Inc. 2021 Term Loan B	8.888% (1 mo. USD LIBOR + 3.75%	)	4/21/2028		12,840,390		12,795,770
Total							139,681,124
Aerospace/Defense 0.99%
Alloy Finco Ltd. USD Holdco PIK Term Loan 13.50% (Jersey)(b)	0.50%		3/6/2025		13,892,396		12,558,726
TransDigm, Inc. 2022 Term Loan H	8.148% (3 mo. USD Term SOFR + 3.25%	)	2/22/2027		21,358,381		21,294,626
Vertex Aerospace Services Corp. 2021 First Lien Term Loan	8.904%		12/6/2028		15,836,147		15,728,937
Total							49,582,289
Airlines 1.20%
American Airlines, Inc. 2021 Term Loan	10.00% (3 mo. USD LIBOR + 4.75%	)	4/20/2028		34,228,223		34,434,106
Kestrel Bidco, Inc. Term Loan B (Canada)(b)	8.251% (1 mo. USD Term SOFR + 3.00%	)	12/11/2026		6,911,250		6,401,545
Mileage Plus Holdings LLC 2020 Term Loan B	10.213% (3 mo. USD LIBOR + 5.25%	)	6/21/2027		18,986,371		19,689,436
Total							60,525,087
Apparel 0.26%
Crocs, Inc. Term Loan B	8.753%		2/20/2029		13,063,709		13,058,353
Auto Parts & Equipment 0.45%
American Axle & Manufacturing, Inc. 2022 Term Loan B	–	(i)	12/13/2029		2,600,000		2,564,250
Clarios Global LP 2023 Incremental Term Loan (Canada)(b)	8.903% (1 mo. USD Term SOFR + 3.75%	)	5/6/2030		20,163,900		20,000,068
Total							22,564,318

See Notes to Financial Statements. 97

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automotive 0.66%
Autokiniton U.S. Holdings, Inc. 2021 Term Loan B	9.75%		4/6/2028	$	17,479,761	$	17,131,739
DexKo Global, Inc. 2021 USD Term Loan B	8.909% (3 mo. USD LIBOR + 3.75%	)	10/4/2028		16,840,817		15,983,536
Total							33,115,275
Banks 0.38%
AqGen Island Holdings, Inc. Term Loan	8.688%		8/2/2028		19,853,345		19,092,267
Building & Construction 0.27%
Legence Holdings LLC 2021 Term Loan	9.003% (1 mo. USD Term SOFR + 3.75%	)	12/16/2027		13,550,456		13,390,967
Building Materials 0.92%
ACProducts, Inc. 2021 Term Loan B	9.409% (3 mo. USD LIBOR + 4.25%	)	5/17/2028		19,428,656		15,888,366
Emrld Borrower LP Term Loan B	–	(i)	5/4/2030		20,809,768		20,588,664
Smyrna Ready Mix Concrete LLC Term Loan B	9.503%		4/2/2029		9,995,237		9,966,051
Total							46,443,081
Chemicals 1.74%
Aruba Investments, Inc. 2020 2nd Lien Term Loan	12.904%		11/24/2028		6,401,900		5,687,000
Aruba Investments, Inc. 2020 USD Term Loan	9.154%		11/24/2027		5,823,710		5,590,762
Axalta Coating Systems U.S. Holdings, Inc. 2022 USD Term Loan B4	7.898% (3 mo. USD Term SOFR + 3.00%	)	12/20/2029		8,388,750		8,404,815
DCG Acquisition Corp. Term Loan B	–	(i)	9/30/2026		9,502,833		9,241,505
Hexion Holdings Corp. 2022 USD Term Loan	–	(i)	3/15/2029		13,956,371		12,591,298
LSF11 A5 Holdco LLC 2023 Incremental Term Loan B	9.503% (1 mo. USD Term SOFR + 4.25%	)	10/15/2028		1,188,331		1,168,527
LSF11 A5 Holdco LLC Term Loan	8.768%		10/15/2028		4,054,780		3,930,095
Olympus Water U.S. Holding Corp. 2021 USD Term Loan B	8.938% (3 mo. USD LIBOR + 3.75%	)	11/9/2028		4,289,141		4,015,194
Olympus Water U.S. Holding Corp. 2023 Incremental Term Loan	–	(i)	11/9/2028		2,938,498		2,796,715
PMHC II, Inc. 2022 Term Loan B	9.304% (3 mo. USD Term SOFR + 4.25%	)	4/23/2029		12,390,922		10,729,795

98 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Chemicals (continued)
Starfruit Finco B.V 2018 USD Term Loan B (Netherlands)(b)	7.895% (3 mo. USD Term SOFR + 2.75%	)	10/1/2025	$	16,166,297	$	16,138,895
Starfruit Finco BV 2023 Term Loan B (Netherlands)(b)	8.99% (3 mo. USD Term SOFR + 4.00%	)	4/3/2028		7,480,513		7,371,410
Total							87,666,011
Commercial Services 2.42%
Allied Universal Holdco LLC 2021 USD Incremental Term Loan B	9.003% (1 mo. USD Term SOFR + 3.75%	)	5/12/2028		13,066,366		12,311,783
Amentum Government Services Holdings LLC Term Loan B	9.268% (1 mo. USD Term SOFR + 4.00%	)	1/29/2027		10,501,751		9,871,646	(j)
BCP V Modular Services Holdings IV Ltd. EUR Term Loan B(c)	7.515% (3 mo. EUR EURIBOR + 4.50%	)	12/15/2028	EUR	5,000,000		5,075,406
Belron Finance U.S. LLC 2023 Term Loan	7.832% (3 mo. USD Term SOFR + 2.75%	)	4/18/2029	$	14,234,703		14,199,187
CHG Healthcare Services, Inc. 2021 Term Loan	8.404%		9/29/2028		11,267,972		11,052,472
Creative Artists Agency LLC 2023 Term Loan B	8.653% (1 mo. USD Term SOFR + 3.50%	)	11/27/2028		9,467,536		9,350,044
Garda World Security Corp. 2021 Term Loan B (Canada)(b)	9.444%		10/30/2026		5,630,275		5,552,155
KUEHG Corp. 2018 Incremental Term Loan	8.909% (3 mo. USD LIBOR + 3.75%	)	2/21/2025		16,347,164		16,338,419
KUEHG Corp. 2023 Term Loan	–	(i)	5/23/2030		18,941,906		18,105,337
Mavis Tire Express Services Corp. 2021 Term Loan B	–	(i)	5/4/2028		10,881,458		10,514,209
TruGreen Ltd. Partnership 2020 Term Loan	9.253%		11/2/2027		108,367		101,296
Vaco Holdings LLC 2022 Term Loan	10.048% (3 mo. USD Term SOFR + 5.00%	)	1/21/2029		9,930,084		9,119,094
Total							121,591,048
Computers 0.30%
Ahead DB Holdings LLC 2021 Term Loan B	8.909% (3 mo. USD LIBOR + 3.75%	)	10/18/2027		2,526,215		2,396,228
Optiv Security, Inc. 2023 Term Loan	10.338%		8/1/2026		13,137,965		12,694,559
Total							15,090,787
Consumer Durables 0.17%
Griffon Corp. Term Loan B	7.728% (3 mo. USD Term SOFR + 2.25%	)	1/24/2029		8,383,678		8,340,041

See Notes to Financial Statements. 99

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Consumer Non-Durables 0.46%
Anastasia Parent LLC 2018 Term Loan B	8.909% (3 mo. USD LIBOR + 3.75%	)	8/11/2025	$	12,737,624	$	9,874,079
Coty, Inc. 2018 USD Term Loan B	7.408%		4/7/2025		5,067,340		5,057,838
Pretium PKG Holdings, Inc. 2021 2nd Lien Term Loan	11.758% - 11.97% (3 mo. USD LIBOR + 6.75%	)	10/1/2029		13,079,643		8,303,284
Total							23,235,201
Containers & Packaging 0.28%
Charter NEX U.S., Inc. 2021 Term Loan	–	(i)	12/1/2027		8,561,230		8,339,751
LABL, Inc. 2021 USD 1st Lien Term Loan	–	(i)	10/29/2028		5,800,000		5,659,524
Total							13,999,275
Cosmetics/Personal Care 0.25%
Sunshine Luxembourg VII SARL 2021 Term Loan B3 (Luxembourg)(b)	8.909% (3 mo. USD LIBOR + 3.75%	)	10/1/2026		13,097,588		12,803,285
Distribution/Wholesale 0.75%
BCPE Empire Holdings, Inc. 2023 Extended Term Loan	–	(i)	12/11/2028		26,091,574		25,855,054
Owens & Minor, Inc. 2022 Term Loan B	8.715% - 9.00% (3 mo. USD Term SOFR + 3.75% (6 mo. USD Term SOFR + 3.75%	) )	3/29/2029		11,772,673		11,703,980
Total							37,559,034
Diversified Capital Goods 0.41%
CeramTec AcquiCo GmbH 2022 EUR Term Loan B(c)	7.233% (3 mo. EUR EURIBOR + 3.75%	)	3/16/2029	EUR	6,769,227		7,055,534
Grinding Media, Inc. 2021 Term Loan B	9.199% (3 mo. USD Term SOFR + 4.00%	)	10/12/2028	$	4,743,741		4,524,343
Tank Holding Corp. 2022 Term Loan	11.003%		3/31/2028		9,211,960		8,912,571
Total							20,492,448
Diversified Financial Services 1.50%
Castlelake Aviation Ltd. 2023 Incremental Term Loan B	7.783% (3 mo. USD Term SOFR + 2.75%	)	10/22/2027		21,151,414		20,750,488
Edelman Financial Center LLC 2021 Term Loan B	8.904%		4/7/2028		2,847,293		2,737,615
Jane Street Group LLC 2021 Term Loan	7.903% (1 mo. USD Term SOFR + 2.75%	)	1/26/2028		24,128,019		23,826,419
Minotaur Acquisition, Inc. Term Loan B	10.003%		3/27/2026		17,063,147		16,760,277
VFH Parent LLC 2022 Term Loan B	–(i)		1/13/2029		11,424,004		11,179,473
Total							75,254,272

100 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Electric: Generation 0.57%
EFS Cogen Holdings I LLC 2020 Term Loan B	8.66% (3 mo. USD LIBOR + 3.50%	)	10/1/2027	$	14,622,012	$	14,465,629
ExGen Renewables IV LLC 2020 Term Loan	7.764% (3 mo. USD Term SOFR + 2.50%	)	12/15/2027		10,134,336		10,073,378
Frontera Generation Holdings LLC 2021 2nd Lien Term Loan	6.659% (3 mo. USD LIBOR + 1.50%	)	7/28/2028		2,863,989		1,288,795	(j)
Frontera Generation Holdings LLC 2021 Term Loan	18.159% (3 mo. USD LIBOR + 13.00%)		7/28/2026		2,950,702		2,965,456
Total							28,793,258
Electric: Integrated 0.27%
Compass Power Generation LLC 2022 Term Loan B2	9.517%		4/14/2029		13,489,744		13,400,779
Energy 1.25%
AL GCX Holdings LLC Term Loan B	8.554% (3 mo. USD Term SOFR + 3.50%	)	5/17/2029		9,362,649		9,296,314
CQP Holdco LP 2021 Term Loan B	8.659% (3 mo. USD LIBOR + 3.50%	)	6/5/2028		16,640,451		16,565,069
Freeport LNG Investments LLLP Term Loan B	8.75% (3 mo. USD LIBOR + 3.50%	)	12/21/2028		13,490,220		12,935,907
Medallion Midland Acquisition LLC 2021 Term Loan	8.91% (3 mo. USD Term SOFR + 3.75%	)	10/18/2028		13,018,940		12,875,732
NorthRiver Midstream Finance LP 2018 Term Loan B (Canada)(b)	8.427% (3 mo. USD LIBOR + 3.25%)		10/1/2025		11,240,651		11,216,484
Total							62,889,506
Energy: Alternate Sources 0.14%
TerraForm Power Operating LLC 2023 Term Loan B	2.50% (3 mo. USD Term SOFR + 2.50%	)	5/21/2029		7,182,301		7,092,522
Engineering & Construction 0.44%
KKR Apple Bidco LLC 2022 Incremental Term Loan	8.982% (3 mo. USD Term SOFR + 4.00%	)	9/22/2028		7,562,279		7,514,221
Service Logic Acquisition, Inc. Term Loan	9.154% - 9.27% (3 Mo. USD LIBOR + 4.00%	)	10/29/2027		15,138,281		14,684,132
Total							22,198,353

See Notes to Financial Statements. 101

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Entertainment 1.37%
Caesars Entertainment Corp. Term Loan B	8.503% (1 mo. USD Term SOFR + 3.25%)		2/6/2030	$	23,495,350	$	23,333,820
Cinemark USA, Inc. 2023 Term Loan B	–	(i)	5/24/2030		21,793,114		21,561,671
Formula One Holdings Ltd. Term Loan B (United Kingdom)(b)	8.153% (1 mo. USD Term SOFR + 3.00%	)	1/15/2030		14,540,000		14,558,175
PCI Gaming Authority Term Loan	–	(i)	5/29/2026		9,616,415		9,591,797
Total							69,045,463
Environmental 0.20%
Bingo Industries Ltd. Term Loan (Australia)(b)	8.66% (3 mo. USD Term SOFR + 3.50%	)	7/14/2028		10,904,232		10,072,784
Environmental Control 0.27%
Madison IAQ LLC Term Loan	8.302% (6 mo. USD LIBOR + 3.25%	)	6/21/2028		14,176,127		13,603,411
Financial 3.26%
Acrisure LLC 2021 First Lien Term Loan B	9.404%		2/15/2027		16,870,313		16,054,886
Advisor Group, Inc. 2021 Term Loan	9.654%		7/31/2026		15,016,967		14,908,244
Alliant Holdings Intermediate LLC 2023 Term Loan B5	8.559%		11/5/2027		12,479,138		12,185,192
Armor Holding II LLC 2021 Term Loan B	9.541% (6 mo. USD Term SOFR + 4.50%	)	12/11/2028		7,115,962		7,115,962
AssuredPartners, Inc. 2020 Term Loan B	8.768% (1 mo. USD Term SOFR + 3.50%	)	2/12/2027		20,557,134		20,034,675
Asurion LLC 2021 Second Lien Term Loan B4	10.404%		1/20/2029		24,034,469		19,733,380
Asurion LLC 2022 Term Loan B10	9.253% (1 mo. USD Term SOFR + 4.00%	)	8/19/2028		10,244,900		9,434,580
Edelman Financial Center LLC 2018 2nd Lien Term Loan	11.904%		7/20/2026		10,514,063		9,975,217
Hub International Ltd. 2021 Term Loan B	8.398% - 8.41% (1 mo. USD LIBOR + 3.25% (3 mo. USD LIBOR + 3.25%	) )	4/25/2025		9,978,728		9,926,888
Hudson River Trading LLC 2021 Term Loan	8.268%		3/20/2028		20,996,000		19,878,383
NEXUS Buyer LLC Term Loan B	9.003% (1 mo. USD Term SOFR + 3.75%	)	11/9/2026		5,154,827		4,841,851
OneDigital Borrower LLC 2021 Term Loan	9.503%		11/16/2027		20,436,407		19,925,497
Total							164,014,755

102 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Food/Tobacco 1.04%
1011778 BC Unlimited Liability Co. Term Loan B4 (Canada)(b)	6.904%		11/19/2026	$	19,401,601	$	19,025,695
NPC International, Inc. 2nd Lien Term Loan(k)	1.00%		4/18/2025		9,531,000		–	(d)(l)
Reynolds Group Holdings, Inc. 2021 Term Loan B	8.518% (1 mo. USD Term SOFR + 3.25%	)	9/24/2028		17,258,207		16,914,942
Sunshine Investments BV 2022 USD Term Loan (Netherlands)(b)	9.336% (3 mo. USD Term SOFR + 4.25%	)	7/12/2029		16,643,604		16,463,353
Total							52,403,990
Gaming/Leisure 3.51%
888 Acquisitions Ltd. USD Term Loan B (United Kingdom)(b)	10.215% (3 mo. USD Term SOFR + 5.25%	)	7/1/2028		12,354,203		11,327,260
AVSC Holding Corp. 2018 2nd Lien Term Loan	12.349% (1 mo. USD LIBOR + 7.25%	)	9/1/2025		3,538,783		3,167,211
City Football Group Ltd. Term Loan (United Kingdom)(b)	8.273% (3 mo. USD LIBOR + 3.00%	)	7/21/2028		10,501,550		10,212,810
Equinox Holdings, Inc. 2017 2nd Lien Term Loan	12.159% (3 mo. USD LIBOR + 7.00%	)	9/6/2024		7,044,482		5,099,536
Fertitta Entertainment LLC 2022 Term Loan B	9.153%		1/27/2029		27,661,452		26,684,726
Hilton Grand Vacations Borrower LLC 2021 Term Loan B	8.154%		8/2/2028		14,824,917		14,713,730
Motion Finco Sarl Delayed Draw Term Loan B2 (Luxembourg)(b)	8.409% (3 mo. USD LIBOR + 3.25%	)	11/12/2026		1,495,206		1,475,977
Motion Finco Sarl USD Term Loan B1 (Luxembourg)(b)	8.409% (3 mo. USD LIBOR + 3.25%	)	11/12/2026		10,476,044		10,341,322
PENN Entertainment, Inc. 2022 Term Loan B	8.003%		5/3/2029		15,572,611		15,457,763
Sabre Global, Inc. 2021 Term Loan B1	8.768% (1 mo. USD Term SOFR + 3.50%	)	12/17/2027		860,232		631,195
Sabre Global, Inc. 2021 Term Loan B2	8.768% (1 mo. USD Term SOFR + 3.50%	)	12/17/2027		1,232,670		904,472
Sabre Global, Inc. 2022 Term Loan B	9.503% (1 mo. USD Term SOFR + 4.25%	)	6/30/2028		3,937,195		2,909,843
Scientific Games Holdings LP 2022 USD Term Loan B	8.421% (3 mo. USD Term SOFR + 3.50%	)	4/4/2029		13,263,422		12,821,020

See Notes to Financial Statements. 103

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Gaming/Leisure (continued)
Scientific Games International, Inc. 2022 USD Term Loan	8.159% (1 mo. USD Term SOFR + 3.00%	)	4/14/2029	$	12,475,617	$	12,401,574
SeaWorld Parks & Entertainment, Inc. 2021 Term Loan B	8.188%		8/25/2028		12,906,929		12,785,991
Silk Bidco AS EUR Term Loan B(c)	9.697% (6 mo. EUR EURIBOR + 6.50%	)	2/28/2027	EUR	11,686,254		11,324,240
Station Casinos LLC 2020 Term Loan B	7.41%		2/8/2027	$	8,291,762		8,160,296
United FP Holdings LLC 2019 1st Lien Term Loan	9.159% (3 mo. USD LIBOR + 4.00%	)	12/30/2026		17,211,888		12,873,029
United FP Holdings LLC 2019 2nd Lien Term Loan	13.659% (3 mo. USD LIBOR + 8.50%	)	12/30/2027		4,000,000		2,900,000
Total							176,191,995
Health Care Products 0.89%
Curia Global, Inc. 2021 Term Loan	8.895% - 9.00% (1 mo. USD Term SOFR + 3.75% (3 mo. USD Term SOFR + 3.75%	) )	8/30/2026		9,560,981		8,104,652
Medline Borrower LP USD Term Loan B	8.404%		10/23/2028		37,966,508		36,856,368
Total							44,961,020
Health Care Services 0.50%
ADMI Corp. 2018 Term Loan B	8.154%		4/30/2025		9,571,652		9,150,260
Wellpath Holdings, Inc. 2018 1st Lien Term Loan	10.654% - 10.98%		10/1/2025		23,321,231		16,004,311
Total							25,154,571
Health Services 0.29%
Covetrus, Inc. Term Loan	9.898% (3 mo. USD Term SOFR + 5.00%	)	10/13/2029		15,847,482		14,690,061
Healthcare 9.31%
Athenahealth Group, Inc. 2022 Delayed Draw Term loan(h)	3.50%		2/15/2029		3,972,648		3,754,152
Athenahealth Group, Inc. 2022 Term Loan B	8.598% (1 mo. USD Term SOFR + 3.50%	)	2/15/2029		32,337,996		30,559,406
Bella Holding Co. LLC 2021 Term Loan B	9.003% (1 mo. USD Term SOFR + 3.75%	)	5/10/2028		9,255,071		9,012,125
Canopy Growth Corp. Term Loan (Canada)(b)	13.627% (1 mo. USD LIBOR + 8.50%	)	3/18/2026		6,551,288		5,232,842
CCRR Parent, Inc. Term Loan B	8.91%		3/6/2028		11,913,973		11,429,968

104 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Healthcare (continued)
CNT Holdings I Corp. 2020 2nd Lien Term Loan	11.709% (3 mo. USD Term SOFR + 6.75%	)	11/6/2028	$	8,664,122	$	8,165,935
CNT Holdings I Corp. 2020 Term Loan	8.459% (3 mo. USD Term SOFR + 3.50%	)	11/8/2027		9,059,354		8,833,821
Da Vinci Purchaser Corp. 2019 Term Loan	9.268% (1 mo. USD Term SOFR + 4.00%	)	1/8/2027		9,447,426		8,992,769
Dermatology Intermediate Holdings III, Inc. 2022 Term Loan B	9.295% (3 mo. USD Term SOFR + 4.25%	)	3/30/2029		12,264,667		11,958,051
Dermatology Intermediate Holdings III, Inc. 2022 Delayed Draw Term Loan(h)	4.25% - 9.39% (1 mo. USD Term SOFR + 4.25% (3 mo. USD Term SOFR + 4.25%	) )	3/30/2029		2,296,667		2,239,250
Electron BidCo, Inc. 2021 Term Loan	8.268% (1 mo. USD Term SOFR + 3.00%	)	11/1/2028		14,254,072		13,967,921
eResearchTechnology, Inc. 2020 1st Lien Term Loan	9.768% (1 mo. USD Term SOFR + 4.50%	)	2/4/2027		19,372,955		17,930,541
Gainwell Acquisition Corp. Term Loan B	8.998% (3 mo. USD Term SOFR + 4.00%	)	10/1/2027		16,920,389		16,047,889
Global Medical Response, Inc. 2020 Term Loan B	9.236% (3 mo. USD LIBOR + 4.25%	)	10/2/2025		18,219,499		12,810,586
Heartland Dental LLC 2018 1st Lien Term Loan	8.907%		4/30/2025		6,173,771		6,054,926
Heartland Dental LLC 2021 Incremental Term Loan	9.157%		4/30/2025		11,789,139		11,553,356
Hunter Holdco 3 Ltd. USD Term Loan B (United Kingdom)(b)	9.409% (3 mo. USD LIBOR + 4.25%	)	8/19/2028		19,733,968		19,437,959
Insulet Corp. Term Loan B	8.518% (1 mo. USD Term SOFR + 3.25%	)	5/4/2028		8,990,786		8,975,367
LSCS Holdings, Inc. 2021 1st Lien Term Loan	9.654%		12/16/2028		14,623,889		14,172,961
MDVIP, Inc. 2021 Term Loan	8.654%		10/16/2028		10,074,068		9,812,797
MedAssets Software Intermediate Holdings, Inc. 2021 Term Loan	9.154%		12/18/2028		12,573,653		10,591,354
Medical Solutions Holdings, Inc. 2021 1st Lien Term Loan	8.614% (3 mo. USD Term SOFR + 3.25%	)	11/1/2028		9,082,759		8,469,673
Medical Solutions Holdings, Inc. 2021 2nd Lien Term Loan	12.364% (3 mo. USD Term SOFR + 7.00%	)	11/1/2029		8,000,000		6,940,000

See Notes to Financial Statements. 105

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Healthcare (continued)
National Mentor Holdings, Inc. 2021 2nd Lien Term Loan	12.248% (3 mo. USD Term SOFR + 7.25%	)	3/2/2029	$	5,832,027	$	3,032,654
Navicure, Inc. 2019 Term Loan B	9.154%		10/22/2026		15,978,586		15,888,786
Pacific Dental Services LLC 2021 Term Loan	8.627% (1 mo. USD LIBOR + 3.50%	)	5/5/2028		10,289,140		10,215,213
Parexel International Corp. 2021 1st Lien Term Loan	8.404%		11/15/2028		21,037,763		20,379,176
Pathway Vet Alliance LLC 2021 Term Loan	8.904%		3/31/2027		11,451,060		9,701,223
Pearl Intermediate Parent LLC 2018 2nd Lien Term Loan	11.404%		2/13/2026		2,425,118		2,174,518
PetVet Care Centers LLC 2021 Term Loan B3	8.654%		2/14/2025		16,707,950		15,858,602
Physician Partners LLC Term Loan	–	(i)	12/23/2028		16,586,428		15,612,059
Press Ganey Holdings, Inc. 2021 Term Loan B	9.018% (1 mo. USD Term SOFR + 3.75%	)	7/24/2026		2,856,930		2,707,384
Press Ganey Holdings, Inc. 2022 Incremental Term Loan	9.003%		7/24/2026		6,646,360		6,295,366
RegionalCare Hospital Partners Holdings, Inc. 2018 Term Loan B	9.023% (3 mo. USD LIBOR + 3.75%	)	11/16/2025		24,260,173		21,354,046
Select Medical Corp. 2017 Term Loan B	7.753% (1 mo. USD Term SOFR + 2.50%	)	3/6/2025		13,963,152		13,921,681
Southern Veterinary Partners LLC Term Loan	9.154%		10/5/2027		13,830,018		13,397,830
Summit Behavioral Healthcare LLC 1st Lien Term Loan	10.237%		11/24/2028		13,887,430		13,679,119
Surgery Center Holdings, Inc. 2021 Term Loan	8.858% (3 mo. USD LIBOR + 3.75%	)	8/31/2026		9,957,959		9,903,638
Verscend Holding Corp. 2021 Term Loan B	9.154%		8/27/2025		21,167,000		21,151,548
Zelis Healthcare Corp. 2021 Term Loan	8.654%		9/30/2026		15,555,632		15,447,831
Total							467,664,323
Housing 2.56%
Beacon Roofing Supply, Inc. 2021 Term Loan B	7.404%		5/19/2028		9,794,758		9,744,952
Cornerstone Building Brands, Inc. 2021 Term Loan B	8.409%		4/12/2028		25,054,408		22,867,284
Icebox Holdco III, Inc. 2021 1st Lien Term Loan	8.909% (3 mo. USD LIBOR + 3.75%	)	12/22/2028		7,595,422		7,326,848
Icebox Holdco III, Inc. 2021 2nd Lien Term Loan	11.909% (3 mo. USD LIBOR + 6.75%	)	12/21/2029		8,019,639		7,057,282
LBM Acquisition LLC Term Loan B	8.904%		12/17/2027		17,608,297		16,184,402
Oscar AcquisitionCo LLC Term Loan B	9.498% (3 mo. USD Term SOFR + 4.50%	)	4/29/2029		6,523,213		6,223,537

106 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Housing (continued)
Quikrete Holdings, Inc. 2016 1st Lien Term Loan		7.779%		2/1/2027	$	12,388,553	$	12,302,267
Quikrete Holdings, Inc. 2021 Term Loan B1		8.154%		3/18/2029		17,248,402		17,157,244
Solis IV BV USD Term Loan B1 (Netherlands)(b)	8.666% (3 mo. USD Term SOFR + 3.50%		)	2/26/2029		14,656,775		13,526,371
SRS Distribution, Inc. 2021 Term Loan B		8.654%		6/2/2028		4,063,624		3,869,342
White Cap Buyer LLC Term Loan B		8.903%		10/19/2027		12,385,431		12,193,457
Total								128,452,986
Information Technology 8.30%
Altar Bidco, Inc. 2021 Term Loan		–	(i)	2/1/2029		17,357,783		16,569,479
AP Core Holdings II LLC Amortization Term Loan B1		10.654%		9/1/2027		4,894,201		4,681,621
AP Core Holdings II LLC High-Yield Term Loan B2		10.654%		9/1/2027		17,050,622		16,311,733
Apttus Corp. 2021 Term Loan		9.523% (3 mo. USD LIBOR + 4.25%	)	5/8/2028		14,914,984		14,342,622
Ascend Learning LLC 2021 Term Loan	8.753% (1 mo. USD Term SOFR + 3.50%		)	12/11/2028		22,433,585		20,183,160
Banff Merger Sub, Inc. 2021 USD Term Loan		8.904%		10/2/2025		17,888,466		17,664,861
Barracuda Networks, Inc. 2022 2nd Lien Term Loan	12.045% (3 mo. USD Term SOFR + 7.00%		)	8/15/2030		9,907,507		8,797,866
Barracuda Networks, Inc. 2022 Term Loan	9.545% (3 mo. USD Term SOFR + 4.50%		)	8/15/2029		10,436,373		9,994,967
Cloud Software Group, Inc. 2022 USD Term Loan	9.498% (3 mo. USD Term SOFR + 4.50%		)	3/30/2029		34,387,990		31,923,059
Cloudera, Inc. 2021 Term Loan	9.003% (1 mo. USD Term SOFR + 3.75%		)	10/8/2028		15,639,781		15,023,964
ConnectWise LLC 2021 Term Loan B		8.654%		9/29/2028		13,553,318		12,998,513
Ensono LP 2021 Term Loan		9.151% (3 mo. USD LIBOR + 3.75%	)	5/26/2028		11,285,230		10,151,065
Epicor Software Corp. 2020 2nd Lien Term Loan	13.003% (1 mo. USD Term SOFR + 7.75%		)	7/31/2028		7,687,953		7,661,891
Epicor Software Corp. 2020 Term Loan	8.518% (1 mo. USD Term SOFR + 3.25%		)	7/30/2027		8,382,662		8,168,275
Greeneden U.S. Holdings II LLC 2020 USD Term Loan B4		9.154%		12/1/2027		22,869,922		22,342,884
Houghton Mifflin Harcourt Publishing Co. 2022 Term Loan		10.503%		4/9/2029		10,462,330		9,264,394
Informatica LLC 2021 USD Term Loan B		7.938%		10/27/2028		8,357,988		8,315,321
McAfee LLC 2022 USD Term Loan B	8.843% (1 mo. USD Term SOFR + 3.75%		)	3/1/2029		29,342,370		27,569,651

See Notes to Financial Statements. 107

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Information Technology (continued)
MKS Instruments, Inc. 2022 USD Term Loan B	7.948% (1 mo. USD Term SOFR + 2.75%		)	8/17/2029	$	25,788,251	$	25,562,603
Perforce Software, Inc. 2020 Term Loan B		8.904%		7/1/2026		16,636,101		15,672,621
Polaris Newco LLC 2nd Lien Term Loan		14.614%		6/4/2029		4,891,447		4,634,646	(j)
Project Boost Purchaser LLC 2019 Term Loan B		8.654%		6/1/2026		9,659,314		9,527,754
RealPage, Inc. 1st Lien Term Loan		8.154%		4/24/2028		23,257,911		22,400,276
Rocket Software, Inc. 2018 Term Loan		9.404%		11/28/2025		11,703,331		11,533,457
Rocket Software, Inc. 2021 USD Incremental Term Loan B		9.404%		11/28/2025		3,452,962		3,406,036
SS&C Technologies, Inc. 2022 Term Loan B6		7.503%		3/22/2029		2,550,878		2,532,818
SS&C Technologies, Inc. 2022 Term Loan B7		7.503%		3/22/2029		3,844,124		3,816,908
Storable, Inc. Term Loan B	8.291% - 8.65% (3 mo. USD Term SOFR + 3.50%		)	4/17/2028		12,204,993		11,661,871
Surf Holdings LLC USD Term Loan		8.508% (3 mo. USD LIBOR + 3.50%	)	3/5/2027		14,188,565		14,013,762
Tenable Holdings, Inc. Term Loan B		7.904%		7/7/2028		9,978,897		9,866,634
Ultimate Software Group, Inc. 2021 Term Loan	8.271% (3 mo. USD Term SOFR + 3.25%		)	5/4/2026		21,338,932		20,530,400
Total								417,125,112
Insurance 1.34%
Amynta Agency Borrower, Inc. 2023 Term Loan B		10.253%		2/28/2028		19,640,539		18,801,692
AssuredPartners, Inc. 2022 Term Loan B4		9.403% (1 mo. USD Term SOFR + 4.25%	)	2/12/2027		6,553,097		6,499,853
Asurion LLC 2023 Term Loan B11	9.503% (1 mo. USD Term SOFR + 4.25%		)	8/19/2028		26,246,717		24,239,893
Sedgwick Claims Management Services, Inc. 2023 Term Loan B	8.903% (1 mo. USD Term SOFR + 3.75%		)	2/17/2028		18,229,804		17,758,381
Total								67,299,819
Integrated Energy 0.18%
Esdec Solar Group BV Term Loan B (Netherlands)(b)		9.96% (3 mo. USD LIBOR + 4.75%	)	8/30/2028		9,334,886		9,264,875
Internet 1.17%
Arches Buyer, Inc. 2021 Term Loan B	8.503% (1 mo. USD Term SOFR + 3.25%		)	12/6/2027		9,490,976		8,837,285
MH Sub I LLC 2023 Term Loan	9.416% (3 mo. USD Term SOFR + 4.25%		)	4/25/2028		31,146,266		29,572,290
Uber Technologies, Inc. 2023 Term Loan B	7.87% (3 mo. USD Term SOFR + 2.75%		)	3/3/2030		20,542,604		20,385,966
Total								58,795,541

108 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Internet Companies 0.70%
LSF11 Trinity Bidco, Inc. Term Loan		–	(i)	4/27/2030	$	18,932,000	$	18,648,020	(j)
NEXUS Buyer LLC 2021 Second Lien Term Loan	11.503% (1 mo. USD Term SOFR + 6.25%		)	11/5/2029		18,299,361		16,377,928
Total								35,025,948
Investment Management Companies 0.11%
Vue International Bidco PLC 2023 EUR PIK Term Loan 6.50%(c)		4.859% (6 mo. EUR EURIBOR + 2.00%	)	12/31/2027	EUR	9,223,893		5,274,791
Leisure 0.52%
Carnival Corp. 2021 Incremental Term Loan B (Panama)(b)		8.404%		10/18/2028	$	12,864,931		12,516,484
Carnival Corp. USD Term Loan B (Panama)(b)		8.154%		6/30/2025		13,548,608		13,459,661
Total								25,976,145
Leisure Time 0.64%
Alterra Mountain Co. 2023 Term Loan B		–	(i)	5/9/2030		2,830,871		2,820,255	(j)
Amer Sports Oyj EUR Term Loan B(c)	7.648% (6 mo. EUR EURIBOR + 4.00%		)	3/30/2026	EUR	9,470,000		10,031,130
Life Time, Inc. 2023 Term Loan B	9.80% (3 mo. USD Term SOFR + 4.50%		)	1/15/2026	$	6,544,546		6,532,275
Topgolf Callaway Brands Corp. Term Loan B	8.753% (1 mo. USD Term SOFR + 3.50%		)	3/15/2030		12,817,713		12,656,402
Total								32,040,062
Lodging 0.24%
Aimbridge Acquisition Co., Inc. 2019 Term Loan B		8.904%		2/2/2026		997,416		941,312
Four Seasons Hotels Ltd. 2022 Term Loan B (Canada)(b)	8.503% (1 mo. USD Term SOFR + 3.25%		)	11/30/2029		11,100,150		11,125,569
Total								12,066,881
Machinery: Diversified 0.42%
Chart Industries, Inc. 2023 Term Loan B	8.916% (1 mo. USD Term SOFR + 3.75%		)	3/15/2030		16,140,163		16,069,631
Engineered Machinery Holdings, Inc. 2021 USD 2nd Lien Term Loan		11.159%		5/21/2029		5,293,308		4,849,993
Total								20,919,624

See Notes to Financial Statements. 109

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Manufacturing 4.92%
ABG Intermediate Holdings 2 LLC 2021 2nd Lien Term Loan		11.253%		12/20/2029	$	10,725,187	$	10,028,050
Camelot U.S. Acquisition LLC 2020 Incremental Term Loan B	8.268% (1 mo. USD Term SOFR + 3.00%		)	10/30/2026		4,957,818		4,908,240
Camelot U.S. Acquisition LLC Term Loan B		8.268%		10/30/2026		3,927,712		3,888,435
Chamberlain Group, Inc. Term Loan B		8.503%		11/3/2028		19,444,266		18,472,053
CMG Media Corp. 2021 Term Loan		8.659% (3 mo. USD LIBOR + 3.50%	)	12/17/2026		10,046,371		8,388,720
CSC Holdings LLC 2017 Term Loan B1		7.357% (1 mo. USD LIBOR + 2.25%	)	7/17/2025		9,333,962		8,594,245
DirecTV Financing LLC Term Loan		10.154%		8/2/2027		25,238,915		24,020,380
Engineered Machinery Holdings, Inc. 2021 USD Incremental Term Loan		8.659% (3 mo. USD LIBOR + 3.50%	)	5/19/2028		14,468,694		14,161,234
iHeartCommunications, Inc. 2020 Term Loan		8.154%		5/1/2026		2,817,798		2,214,972
II-VI, Inc. 2022 Term Loan B	8.018% (1 mo. USD Term SOFR + 2.75%		)	7/2/2029		15,645,473		15,547,689
Intelsat Jackson Holdings SA 2021 Exit Term Loan B (Luxembourg)(b)		–	(i)	2/1/2029		15,110,416		14,882,400
MJH Healthcare Holdings LLC 2022 Term Loan B		8.753%		1/28/2029		11,846,068		11,653,569
Nexstar Broadcasting, Inc. 2019 Term Loan B4		7.654%		9/18/2026		10,006,435		9,916,227
Pro Mach Group, Inc. 2021 Term Loan B		9.154%		8/31/2028		9,530,052		9,447,903
SPX Flow, Inc. 2022 Term Loan		9.753%		4/5/2029		11,309,393		10,728,430
Tiger Acquisition LLC 2021 Term Loan	8.503% (1 mo. USD Term SOFR + 3.25%		)	6/1/2028		13,490,180		12,816,886
Titan Acquisition Ltd. 2018 Term Loan B (Canada)(b)		8.151% (3 mo. USD LIBOR + 3.00%	)	3/28/2025		17,974,767		17,089,150
Univision Communications, Inc. 2022 First Lien Term Loan B	9.148% (3 mo. USD Term SOFR + 4.25%		)	6/24/2029		124,686		121,257
Vertical U.S. Newco, Inc. Term Loan B		8.602% (6 mo. USD LIBOR + 3.50%	)	7/30/2027		22,625,245		21,865,942
Virgin Media Bristol LLC USD Term Loan N		7.607% (1 mo. USD LIBOR + 2.50%	)	1/31/2028		19,935,077		19,170,467
Vue International Bidco PLC 2022 EUR Term Loan(c)		11.086% (6 mo. EUR EURIBOR + 8.00%	)	6/30/2027	EUR	1,611,847		1,580,764
William Morris Endeavor Entertainment LLC 2018 1st Lien Term Loan		7.91%		5/18/2025	$	7,833,882		7,745,751
Total								247,242,764

110 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Media 0.87%
Gray Television, Inc. 2021 Term Loan D		8.108% (1 mo. USD LIBOR + 3.00%	)	12/1/2028	$	9,966,328	$	9,505,386
McGraw-Hill Global Education Holdings LLC 2021 Term Loan		9.904% - 10.33%		7/28/2028		10,855,504		10,227,947
Radiate Holdco LLC 2021 Term Loan B		8.404%		9/25/2026		13,173,737		10,979,849
Univision Communications, Inc. 2021 First Lien Term Loan B		8.404%		3/15/2026		13,247,459		12,822,414
Total								43,535,596
Metal Fabricate/Hardware 0.17%
Tank Holding Corp. 2023 Incremental Delayed Draw Term Loan(h)		1.00%		3/31/2028		2,609,502		2,537,741	(j)
Tank Holding Corp. 2023 Incremental Term Loan	11.182% (3 mo. USD Term SOFR + 6.00%		)	3/31/2028		6,088,839		5,921,395
Total								8,459,136
Metals/Minerals 0.20%
Zekelman Industries, Inc. 2020 Term Loan		7.018% (3 mo. USD LIBOR + 2.00%	)	1/24/2027		10,086,534		9,978,760
Oil & Gas 0.47%
Par Petroleum LLC 2023 Term Loan B	9.614% (3 mo. USD Term SOFR + 4.25		)	2/28/2030		12,360,173		12,062,726
Parkway Generation LLC Term Loan B	10.275% (3 mo. USD Term SOFR + 4.75		)	2/18/2029		10,562,442		10,268,700
Parkway Generation LLC Term Loan C	10.275% (3 mo. USD Term SOFR + 4.75%		)	2/18/2029		1,387,367		1,348,132
Total								23,679,558
Oil Field Equipment & Services 0.32%
Ulterra Drilling Technologies LP Term Loan B		10.404%		11/26/2025		16,510,159		16,179,955
Packaging 0.43%
Clydesdale Acquisition Holdings, Inc. Term Loan B		9.428%		4/13/2029		11,969,849		11,400,563
Graham Packaging Co., Inc. 2021 Term Loan	8.268% (1 mo. USD Term SOFR + 3.00		)	8/4/2027		1,873,601		1,829,103
Mauser Packaging Solutions Holding Co. Term Loan B		8.993%		8/14/2026		8,575,745		8,404,230
Total								21,633,896
Personal & Household Products 0.49%
AI Aqua Merger Sub, Inc. 2021 1st Lien Term Loan B	8.804% (1 mo. USD Term SOFR + 3.75%		)	7/31/2028		25,596,161		24,705,158

See Notes to Financial Statements. 111

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Pharmaceuticals 1.79%
Elanco Animal Health, Inc. Term Loan B	6.843% (1 mo. USD Term SOFR + 1.75%		)	8/1/2027	$	15,000,000	$	14,553,525
Jazz Financing Lux Sarl USD Term Loan (Luxembourg)(b)		8.654%		5/5/2028		24,555,009		24,533,033
Option Care Health, Inc. 2021 Term Loan B		7.904%		10/27/2028		10,315,344		10,299,871
Organon & Co. USD Term Loan		8.00% (3 mo. USD LIBOR + 3.00%	)	6/2/2028		20,866,093		20,820,500
Packaging Coordinators Midco, Inc. 2020 1st Lien Term Loan		8.659% (3 mo. USD LIBOR + 3.50%	)	11/30/2027		20,653,281		19,822,813
Total								90,029,742
Pipelines 0.92%
Brazos Delaware II LLC 2023 Term Loan B	8.805% (1 mo. USD Term SOFR + 3.75%		)	2/11/2030		16,030,311		15,687,182
Oryx Midstream Services Permian Basin LLC 2023 Incremental Term Loan	8.405% (1 mo. USD Term SOFR + 3.25%		)	10/5/2028		21,462,034		21,126,689
Whitewater Whistler Holdings LLC 2023 Term Loan B	8.148% (3 mo. USD Term SOFR + 3.25%		)	2/15/2030		9,346,978		9,341,604
Total								46,155,475
Retail 2.96%
ABG Intermediate Holdings 2 LLC 2021 Term Loan B1		8.753%		12/21/2028		12,979,300		12,661,308
Birkenstock GmbH & Co. KG USD Term Loan B (Germany)(b)		8.593%		4/28/2028		11,868,443		11,720,088
Evergreen Acqco 1 LP 2021 USD Term Loan	10.66% (3 mo. USD Term SOFR + 5.50%		)	4/26/2028		5,442,645		5,337,194
Flynn Restaurant Group LP 2021 Term Loan B	9.518% (1 mo. USD Term SOFR + 4.25%		)	12/1/2028		18,203,357		17,811,985
Great Outdoors Group LLC 2021 Term Loan B1		8.904%		3/6/2028		9,731,703		9,471,380
IRB Holding Corp. 2022 Term Loan B		8.253%		12/15/2027		16,436,705		15,978,614
K-Mac Holdings Corp. 2021 Term Loan		–	(i)	7/21/2028		9,501,112		9,259,119
New Era Cap Co., Inc. 2022 Term Loan B		11.107% (1 mo. USD LIBOR + 6.00%	)	7/13/2027		9,471,399		9,281,971
Petco Health & Wellness Co., Inc. 2021 Term Loan B		8.41% (3 mo. USD Term SOFR + 3.25%	)	3/3/2028		15,633,381		15,343,538
PetSmart, Inc. 2021 Term Loan B		9.003% (1 mo. USD Term SOFR + 3.75%	)	2/11/2028		21,745,850		21,484,900
Torrid LLC 2021 Term Loan B	10.768% (1 mo. USD Term SOFR + 5.50%		)	6/14/2028		12,661,337		11,163,057
Whatabrands LLC 2021 Term Loan B		8.404%		8/3/2028		9,490,995		9,316,977
Total								148,830,131

112 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Service 5.51%
Amentum Government Services Holdings LLC 2022 Term Loan	8.764% - 9.03% (3 mo. USD Term SOFR + 4.00%		)	2/15/2029	$	16,864,369	$	15,715,484
APi Group DE, Inc. 2021 Incremental Term Loan B		8.00% (1 mo. USD LIBOR + 2.75%	)	1/3/2029		10,715,054		10,737,073
AppLovin Corp. 2018 Term Loan B		8.503% (1 mo. USD Term SOFR + 3.35%	)	8/15/2025		4,795,416		4,783,428
AppLovin Corp. 2021 Term Loan B	8.253% (1 mo. USD Term SOFR + 3.10%		)	10/25/2028		22,409,544		22,118,220
Blackhawk Network Holdings, Inc. 2018 2nd Lien Term Loan		12.25%		6/15/2026		13,754,734		13,115,139
Brown Group Holding LLC 2022 Incremental Term Loan B2	8.795% - 9.01% (1 mo. USD Term SOFR + 3.75%		)	7/2/2029		10,970,326		10,835,117
DTI Holdco, Inc. 2022 Term Loan	9.795% (3 mo. USD Term SOFR + 4.75%		)	4/26/2029		15,324,024		14,195,487
Dun & Bradstreet Corp. 2022 Incremental Term Loan B2	8.386% (1 mo. USD Term SOFR + 3.25%		)	1/18/2029		11,952,168		11,858,044
Harsco Corp. 2021 Term Loan	7.518% (1 mo. USD Term SOFR + 2.25%		)	3/10/2028		17,314,185		16,808,351
Instructure Holdings, Inc. 2021 Term Loan B		7.852% (3 mo. USD LIBOR + 2.75%	)	10/30/2028		8,023,725		7,973,577
KUEHG Corp. 2017 2nd Lien Term Loan		13.409% (3 mo. USD LIBOR + 8.25%	)	8/22/2025		62,000		60,089
Magnite, Inc. Term Loan		10.154% - 10.58%		4/28/2028		14,741,364		14,550,979
Prime Security Services Borrower LLC 2021 Term Loan		7.844% (1 mo. USD LIBOR + 2.75%	)	9/23/2026		10,068,636		10,018,293
Red Planet Borrower LLC Term Loan B		9.003% (1 mo. USD Term SOFR + 3.75%	)	10/2/2028		16,644,202		14,040,549
Renaissance Holding Corp. 2018 2nd Lien Term Loan		12.154%		5/29/2026		9,658,831		9,494,969
Renaissance Holding Corp. 2023 Refi Term Loan	9.903% (1 mo. USD Term SOFR + 4.75%		)	4/5/2030		12,447,182		12,195,936
Sabre Global, Inc. 2022 1st Lien Term Loan B	10.253% (1 mo. USD Term SOFR + 5.00%		)	6/30/2028		15,632,127		11,636,243
Severin Acquisition LLC 2018 Term Loan B		8.045% (3 mo. USD Term SOFR + 3.00%	)	8/1/2025		9,977,290		9,983,525
Sophia LP 2021 Term Loan B		8.659% (3 mo. USD LIBOR + 3.50%	)	10/7/2027		20,234,493		19,791,863

See Notes to Financial Statements. 113

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Service (continued)
SRS Distribution, Inc. 2022 Incremental Term Loan	8.753% (1 mo. USD Term SOFR + 3.50%		)	6/2/2028	$	16,247,203	$	15,443,535
SSH Group Holdings, Inc. 2018 1st Lien Term Loan	8.898% (3 mo. USD Term SOFR + 4.00%		)	7/30/2025		17,338,114		16,986,583
Team Health Holdings, Inc. 2022 Term Loan B		10.403%		3/2/2027		6,865,773		4,229,797
Weld North Education LLC 2021 Term Loan B		8.91%		12/21/2027		10,413,013		10,256,817
Total								276,829,098
Shipbuilding 0.32%
MHI Holdings LLC Term Loan B		10.154%		9/21/2026		15,985,911		15,985,911
Software 2.96%
Applied Systems, Inc. 2022 Extended 1st Lien Term Loan	9.398% (3 mo. USD Term SOFR + 4.50%		)	9/18/2026		14,038,120		14,046,052
Banff Merger Sub, Inc. 2021 USD 2nd Lien Term Loan		10.654%		2/27/2026		6,237,990		6,047,731
Capstone Borrower, Inc. 2023 Term Loan B		–	(i)	5/17/2030		17,005,404		16,516,499	(j)
CDK Global, Inc. 2022 USD Term Loan B		9.148% (3 mo. USD Term SOFR + 4.25%	)	7/6/2029		18,481,850		18,235,764
ECL Entertainment LLC Term Loan		12.768%		5/1/2028		8,948,156		9,009,675
Liftoff Mobile, Inc. Term Loan		8.659% (3 mo. USD LIBOR + 3.50%	)	3/17/2028		1		1
Mitchell International, Inc. 2021 Term Loan B		8.877% (1 mo. USD LIBOR + 3.75%	)	10/15/2028		14,870,201		14,127,434
Open Text Corp. 2022 Term Loan B (Canada)(b)	8.753% (1 mo. USD Term SOFR + 3.50%		)	1/31/2030		14,768,984		14,756,651
Playtika Holding Corp. 2021 Term Loan		7.904%		3/13/2028		20,193,319		19,845,489
Quartz Acquireco LLC Term Loan B		–	(i)	4/14/2030		13,711,214		13,556,963	(j)
Roper Industrial Products Investment Co. LLC USD Term Loan	9.398% (3 mo. USD Term SOFR + 4.50%		)	11/22/2029		10,092,372		9,999,320
Ultimate Software Group, Inc. 2021 2nd Lien Term Loan	10.271% (3 mo. USD Term SOFR + 5.25%		)	5/3/2027		13,494,991		12,759,514
Total								148,901,093
Software/Services 0.47%
Proofpoint, Inc. 1st Lien Term Loan		8.404%		8/31/2028		17,566,915		17,000,821
Proofpoint, Inc. 2nd Lien Term Loan		11.404%		8/31/2029		6,750,420		6,514,156
Total								23,514,977

114 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Specialty Retail 0.15%
Chinos Intermediate Holdings A, Inc. Exit Term Loan	13.307% (3 mo. USD Term SOFR + 8.00%		)	9/10/2027	$	8,029,523	$	7,720,066
Telecommunications 1.76%
Altice France SA 2023 USD Term Loan B14 (France)(b)		10.486%		8/15/2028		12,758,337		10,706,413
Carriage Purchaser, Inc. 2021 Term Loan B		9.404%		9/30/2028		3,040,380		2,989,073
CenturyLink, Inc. 2020 Term Loan B	7.518% (1 mo. USD Term SOFR + 2.25%		)	3/15/2027		21,073,581		14,603,676
Fastlane Parent Co., Inc. 2018 Add On 1st Lien Term Loan		9.654%		2/4/2026		13,215,800		13,138,686
Frontier Communications Corp. 2021 1st Lien Term Loan		8.938%		5/1/2028		13,214,779		12,308,774
Kenan Advantage Group, Inc. 2021 Term Loan B1		9.477%		3/24/2026		10,051,321		9,986,641
Lorca Holdco Ltd. 2021 EUR Term Loan B2(c)		6.269% (6 mo. EUR EURIBOR + 3.70%	)	9/17/2027	EUR	1,465,000		1,525,749
Lorca Holdco Ltd. EUR Term Loan B1(c)		6.769% (6 mo. EUR EURIBOR + 4.20%	)	9/17/2027	EUR	7,785,000		8,209,424
Northwest Fiber LLC 2021 Term Loan		8.947%		4/30/2027	$	15,820,477		15,138,219
Total								88,606,655
Transportation 0.05%
Kenan Advantage Group, Inc. 2023 Term Loan	9.727% (3 mo. USD Term SOFR + 4.00%		)	3/24/2026		2,347,761		2,333,099
Utility 1.11%
Astoria Energy LLC 2020 Term Loan B		8.66%		12/10/2027		8,001,052		7,946,765
Calpine Corp. 2020 Term Loan B5		7.66%		12/16/2027		4,868,918		4,835,858
Generation Bridge Acquisition LLC Term Loan B		10.154%		12/1/2028		13,835,816		13,835,816
Generation Bridge Acquisition LLC Term Loan C		10.154%		12/1/2028		322,718		322,718
Pacific Gas & Electric Co. 2020 Term Loan		8.154%		6/23/2025		8,619,361		8,567,257
Talen Energy Supply LLC 2023 Term Loan B		9.59%		5/17/2030		5,251,728		5,138,895
Talen Energy Supply LLC 2023 Term Loan C		9.59%		5/17/2030		4,255,711		4,164,277
USIC Holdings, Inc. 2021 Term Loan		8.654%		5/12/2028		11,331,703		10,916,849
Total								55,728,435
Total Floating Rate Loans (cost $4,237,083,189)								4,103,316,706

See Notes to Financial Statements. 115

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Dividend Rate		Shares		Fair Value
PREFERRED STOCKS 0.53%
Transportation Infrastructure
ACBL Holdings Corp.	Zero Coupon			268,120	$	6,568,940
ACBL Holdings Corp.	Zero Coupon			444,753		20,013,885
Total Preferred Stocks (cost $17,821,825)						26,582,825
	Exercise Price	Expiration Date
WARRANTS 0.01%
Machinery 0.00%
TNT Crane & Rigging, Inc.*	$4.00	10/16/2025		12,651		6,326
Miscellaneous Financials 0.01%
Utex Industries*	114.76	12/3/2025		57,340		336,012	(e)
Specialty Retail 0.00%
Chinos Intermediate Holdings A, Inc.*	3.50			147,340		317,739
Total Warrants (cost $652,304)						660,077
Total Long-Term Investments (cost $4,770,780,585)						4,618,423,704
				Principal Amount
SHORT-TERM INVESTMENTS 10.12%
REPURCHASE AGREEMENTS 8.99%
Repurchase Agreement dated 5/31/2023, 5.080% due 6/1/2023 with Barclays Bank plc collateralized by $335,877,000 of U.S. Treasury Note at 3.750% due 5/31/2030; value: $336,599,136; proceeds: $330,045,720 (cost $329,999,153)				$329,999,153		329,999,153
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $136,929,900 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $124,189,000; proceeds: $121,762,692 (cost 121,753,898)				121,753,898		121,753,898
Total Repurchase Agreements (cost $451,753,051)						451,753,051

116 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Investments	Shares		Fair Value
MONEY MARKET FUNDS 1.02%
Fidelity Government Portfolio(m) (cost $51,213,645)		51,213,645	$	51,213,645
TIME DEPOSITS 0.11%
CitiBank N.A.(m) (cost $5,690,405)		5,690,405		5,690,405
Total Short-Term Investments (cost $508,657,101)				508,657,101
Total Investments in Securities 102.03% (cost $5,279,437,686)				5,127,080,805
Less Unfunded Loan Commitments (0.15%) (cost $7,846,939)				(7,662,916	)
Net Investments in Securities 101.88% (cost $5,271,590,747)				5,119,417,889
Other Assets and Liabilities – Net(n) (1.88)%				(94,403,815	)
Net Assets 100.00%			$	5,025,014,074

EUR	Euro.
ETF	Exchange Traded Fund.
EURIBOR	Euro Interbank Offered Rate.
LIBOR	London Interbank Offered Rate.
PIK	Payment-in-kind.
SOFR	Secured Overnight Financing Rate.

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $355,457,911, which represents 7.07% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
*	Non-income producing security.
(a)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
(b)	Foreign security traded in U.S. dollars.
(c)	Investment in non-U.S. dollar denominated securities.
(d)	Amount is less than $1.
(e)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security fair valued by the Pricing Committee.
(f)	All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
(g)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(h)	Security partially/fully unfunded.
(i)	Interest Rate to be determined.
(j)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Floating Rate Loans categorized as Level 3 are valued based on a single quotation obtained from a dealer. Accounting principles generally accepted in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore, the Fund does not have access to unobservable inputs and cannot disclose such inputs in the valuation.
(k)	Defaulted (non-income producing security).
(l)	Level 3 Investment as described in 2(u) in the Notes to Financials. Floating Rate Loan fair valued by the Pricing Committee. Accounting principles generally accepted in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore the Fund does not have access to unobservable inputs and can not disclose such inputs in the valuation.
(m)	Security was purchased with the cash collateral from loaned securities.
(n)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts and swap contracts as follows:

See Notes to Financial Statements. 117

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Centrally Cleared Interest Rate Swap Contracts at May 31, 2023:

Central Clearingparty	Periodic Payments to be Made By The Fund (Quarterly)	Periodic Payments to be Received By The Fund (Quarterly)	Termination Date	Notional Amount		Value/Unrealized Appreciation
Bank of America(1)	4.372%	12-Month USD SOFR Index	9/15/2024	$	16,284,000		$	90,972
Bank of America(1)	3.636%	12-Month USD SOFR Index	1/20/2026		12,246,000			112,069
Bank of America(1)	3.317%	12-Month USD SOFR Index	4/30/2030		5,404,000			35,712
Bank of America(1)	2.498%	12-Month USD SOFR Index	10/15/2029		6,503,000			351,572
Bank of America(1)	2.496%	12-Month USD SOFR Index	12/1/2028		9,176,000			459,887
Bank of America(1)	2.489%	12-Month USD SOFR Index	8/1/2029		9,592,000			513,574
Bank of America(1)	2.476%	12-Month USD SOFR Index	10/1/2029		13,498,000			743,985
Bank of America(1)	1.225%	12-Month USD SOFR Index	1/15/2030		12,445,000			1,615,092
Bank of America(1)	1.220%	12-Month USD SOFR Index	10/15/2029		9,775,000			1,234,671
Bank of America(1)	1.152%	12-Month USD SOFR Index	10/15/2028		10,098,000			1,157,118
Unrealized Appreciation on Centrally Cleared Interest Rate Swap Contracts							$	6,314,652

Central Clearingparty	Periodic Payments to be Made By The Fund (Quarterly)	Periodic Payments to be Received By The Fund (Quarterly)	Termination Date	Notional Amount		Value/Unrealized Depreciation
Bank of America(1)	4.494%	12-Month USD SOFR Index	4/1/2025	$	8,021,000		$	(10,810	)
Bank of America(1)	4.447%	12-Month USD SOFR Index	6/15/2025		10,186,000			(33,252	)
Bank of America(1)	4.440%	12-Month USD SOFR Index	6/25/2025		12,041,000			(41,685	)
Bank of America(1)	4.265%	12-Month USD SOFR Index	5/1/2026		12,207,000			(118,059	)
Bank of America(1)	4.217%	12-Month USD SOFR Index	8/15/2026		7,668,000			(89,124	)
Bank of America(1)	4.214%	12-Month USD SOFR Index	9/1/2026		7,970,000			(95,317	)
Bank of America(1)	4.203%	12-Month USD SOFR Index	10/15/2026		3,011,000			(38,707	)
Bank of America(1)	4.062%	12-Month USD SOFR Index	12/15/2025		3,085,000			(1,779	)
Bank of America(1)	3.974%	12-Month USD SOFR Index	4/1/2027		5,947,000			(58,294	)
Bank of America(1)	3.940%	12-Month USD SOFR Index	8/15/2027		8,911,000			(105,504	)
Bank of America(1)	3.925%	12-Month USD SOFR Index	5/1/2026		9,243,000			(3,643	)
Bank of America(1)	3.890%	12-Month USD SOFR Index	7/15/2028		4,603,000			(75,613	)
Bank of America(1)	3.875%	12-Month USD SOFR Index	5/1/2028		7,347,000			(105,362	)
Bank of America(1)	3.805%	12-Month USD SOFR Index	11/1/2026		9,176,000			(9,245	)
Bank of America(1)	3.803%	12-Month USD SOFR Index	6/30/2029		9,216,000			(167,890	)
Bank of America(1)	3.766%	12-Month USD SOFR Index	4/1/2030		8,462,000			(171,478	)
Bank of America(1)	3.708%	12-Month USD SOFR Index	4/15/2027		9,454,000			(6,439	)
Bank of America(1)	3.599%	12-Month USD SOFR Index	2/1/2028		5,823,000			(5,618	)
Unrealized Depreciation on Centrally Cleared Interest Rate Swap Contracts							$	(1,137,819	)

⁽¹⁾ Central clearinghouse: Chicago Mercantile Exchange (CME).

118 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

Total Return Swap Contracts at May 31, 2023:

Swap Counterparty	Referenced Index*	Referenced Spread	Units	Position	Termination Date	Notional Amount		Upfront Payment			Unrealized Appreciation		Value
Barclays Capital, PLC.	IBOXX	12-Month USD SOFR Index	307,692	Long	6/20/2023	$	57,000,000	$	(590	)	$	556,744	$	556,154
Morgan Stanley	IBOXX	12-Month USD SOFR Index	282,269	Long	6/20/2023		51,500,000		(57	)		1,300,611		1,300,554
Morgan Stanley	IBOXX	12-Month USD SOFR Index	308,303	Long	6/20/2023		56,912,657		(687	)		758,340		757,653
Morgan Stanley	IBOXX	12-Month USD SOFR Index	616,116	Long	6/20/2023		113,981,382		(1,128	)		1,268,786		1,267,658
Morgan Stanley	IBOXX	12-Month USD SOFR Index	151,756	Long	6/20/2023		27,839,622		6			547,454		547,460
Total						$	307,233,661	$	(2,456	)		$4,431,935	$	4,429,479

*	iBoxx Leverage Loan Index.
SOFR	Secured Overnight Financing Rate.

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency		U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Appreciation
Euro	Sell	Morgan Stanley	6/13/2023		120,000	$	132,582	$	128,348		$	4,234
Euro	Sell	Morgan Stanley	6/13/2023		4,810,000		5,198,667		5,144,613			54,054
Euro	Sell	Standard Chartered Bank	6/13/2023		4,609,000		4,987,751		4,929,630			58,121
Euro	Sell	State Street Bank and Trust	6/13/2023		8,637,000		9,492,087		9,237,843			254,244
Euro	Sell	Toronto Dominion Bank	6/13/2023		3,263,000		3,558,920		3,489,994			68,926
Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts											$	439,579
Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency		U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Depreciation
Euro	Buy	Bank of America	6/13/2023		1,539,000	$	1,664,298	$	1,646,062		$	(18,236	)
Euro	Buy	Morgan Stanley	6/13/2023		2,579,000		2,825,508		2,758,411			(67,097	)
Euro	Buy	Morgan Stanley	6/13/2023		3,412,000		3,781,075		3,649,360			(131,715	)
Euro	Buy	Morgan Stanley	6/13/2023		4,675,000		5,141,932		5,000,222			(141,710	)
Euro	Buy	Morgan Stanley	6/13/2023		5,500,000		5,985,203		5,882,614			(102,589	)
Euro	Buy	State Street Bank and Trust	6/13/2023		2,189,000		2,362,920		2,341,280			(21,640	)
Euro	Sell	State Street Bank and Trust	6/13/2023		62,663,000		66,668,419		67,022,221			(353,802	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts											$	(836,789	)

See Notes to Financial Statements. 119

Schedule of Investments (unaudited)(continued)

FLOATING RATE FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1		Level 2			Level 3			Total
Long-Term Investments
Asset-Backed Securities	$	–	$	30,838,719		$	–		$	30,838,719
Common Stocks
Electric-Generation		–		–			3,145			3,145
Remaining Industries		–		31,528,963			–			31,528,963
Convertible Bonds		–		7,428,017			–			7,428,017
Corporate Bonds
Mining		–		7,714,391			–	(3)		7,714,391
Remaining Industries		–		354,689,047			–			354,689,047
Exchange-Traded Funds		55,661,814		–			–			55,661,814
Floating Rate Loans
Commercial Services		–		111,719,402			9,871,646			121,591,048
Electric: Generation		–		27,504,463			1,288,795			28,793,258
Food/Tobacco		–		52,403,990			–	(4)		52,403,990
Information Technology		–		412,490,466			4,634,646			417,125,112
Internet Companies		–		16,377,928			18,648,020			35,025,948
Leisure Time		–		29,219,807			2,820,255			32,040,062
Metal Fabricate/Hardware		–		5,921,395			2,537,741			8,459,136
Software		–		118,827,631			30,073,462			148,901,093
Remaining Industries		–		3,258,977,059			–			3,258,977,059
Less Unfunded Commitments		–		(5,125,175	)		(2,537,741	)		(7,662,916	)
Preferred Stocks		–		26,582,825			–			26,582,825
Warrants		–		324,065			336,012			660,077
Short-Term Investments
Repurchase Agreements		–		451,753,051			–			451,753,051
Money Market Funds		51,213,645		–			–			51,213,645
Time Deposits		–		5,690,405			–			5,690,405
Total	$	106,875,459	$	4,944,866,449		$	67,675,981		$	5,119,417,889
Other Financial Instruments
Centrally Cleared Interest Rate Swap Contracts
Assets	$	–	$	6,314,652		$	–		$	6,314,652
Liabilities		–		(1,137,819	)		–			(1,137,819	)
Total Return Swap Contracts
Assets		–		4,429,479			–			4,429,479
Liabilities		–		–			–			–
Forward Foreign Currency Exchange Contracts
Assets		–		439,579			–			439,579
Liabilities		–		(836,789	)		–			(836,789	)
Total	$	–	$	9,209,102		$	–		$	9,209,102

(1)	Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.
(3)	Includes securities with zero market value.
(4)	Amount less than $1.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

120 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

FLOATING RATE FUND May 31, 2023

The following is a reconciliation of investments with unobservable inputs (Level 3) that were used in determining fair value:

Investment Type	Common Stocks		Corporate Bonds			Floating Rate Loans			Warrants
Balance as of December 1, 2022	$	3,145	$	5		$	79,179,145		$	521,220
Accrued Discounts (Premiums)		–		–			128,692			–
Realized Gain (Loss)		–		–			(363,072	)		–
Change in Unrealized Appreciation (Depreciation)		–		(5	)		(346,563	)		(185,208	)
Purchases		–		–			57,620,019			–
Sales		–		–			(8,786,638	)		–
Transfers into Level 3(a)		–		–			13,706,555			–
Transfers out of Level 3(a)		–		–			(73,801,314	)		–
Balance as of May 31, 2023	$	3,145	$	–		$	67,336,824		$	336,012
Change in unrealized appreciation/depreciation for the period ended May 31, 2023, related to Level 3 investments held at May 31, 2023	$	–	$	–		$	(464,660	)	$	(185,208	)

^(a) The Fund recognizes transfers within the fair value hierarchy as of the beginning of the period. Transfers into and out of Level 3 were primarily related to the availability of market quotations in accordance with valuation methodology.

See Notes to Financial Statements. 121

Schedule of Investments (unaudited)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 97.71%
ASSET-BACKED SECURITIES 0.34%
Other
Perimeter Master Note Business	8.13%	5/15/2027	$	5,000,000	$	4,565,850
Perimeter Master Note Business Trust	5.19%	5/15/2027		12,000,000		9,708,596	(a)
Total Asset-Backed Securities (cost $16,981,834)						14,274,446
				Shares
COMMON STOCKS 0.81%
Automobile Components 0.05%
Chassix Holdings, Inc.				465,820		2,096,190
Banks 0.10%
New York Community Bancorp, Inc.				417,723		4,294,193
Electric: Utilities 0.33%
Talen Energy Supply LLC*				64,721		2,856,138
Talen Energy Supply LLC*				248,166		10,951,565
Total						13,807,703
Electric-Generation 0.00%
Frontera Generation Holdings LLC				87,622		1,314	(a)
Machinery 0.00%
TNT Crane & Rigging, Inc.				14,844		116,281
Miscellaneous Financials 0.07%
Utex Industries				49,219		3,150,016
Oil, Gas & Consumable Fuels 0.00%
Earthstone Energy, Inc. Class A*				129		1,549
Personal Care Products 0.16%
Britax Group Ltd.				2,481		–	(a)(b)
Gibson Brands Private Equity				56,761		6,669,417	(c)
Total						6,669,417
Specialty Retail 0.08%
Chinos Intermediate Holdings A, Inc.				47,809		351,396
Claire’s Holdings LLC				7,482		3,086,164
Total						3,437,560

122 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments			Shares		Fair Value
Transportation Infrastructure 0.02%
ACBL Holdings Corp.				22,227	$	733,491
Total Common Stocks (cost $39,105,513)						34,307,714
	Interest Rate	Maturity Date		Principal Amount
CONVERTIBLE BONDS 0.11%
Health Care-Products
Exact Sciences Corp.† (cost $4,638,375)	2.00%	3/1/2030	$	3,754,000		4,728,163
CORPORATE BONDS 92.47%
Advertising 0.10%
Outfront Media Capital LLC/Outfront Media Capital Corp.†	4.25%	1/15/2029		5,315,000		4,354,819
Aerospace/Defense 2.30%
Bombardier, Inc. (Canada)†(d)	6.00%	2/15/2028		14,185,000		13,100,829
Howmet Aerospace, Inc.	3.00%	1/15/2029		6,118,000		5,363,917
Moog, Inc.†	4.25%	12/15/2027		4,864,000		4,541,737
Rolls-Royce PLC (United Kingdom)†(d)	5.75%	10/15/2027		8,987,000		8,759,849
Spirit AeroSystems, Inc.	4.60%	6/15/2028		10,000,000		8,241,257
Spirit AeroSystems, Inc.†	9.375%	11/30/2029		9,061,000		9,662,360
TransDigm, Inc.	4.625%	1/15/2029		23,283,000		20,664,361
TransDigm, Inc.	5.50%	11/15/2027		9,871,000		9,289,805
TransDigm, Inc.†	6.75%	8/15/2028		7,702,000		7,720,500
Triumph Group, Inc.†	9.00%	3/15/2028		10,432,000		10,580,103
Total						97,924,718
Agriculture 0.43%
Darling Ingredients, Inc.†	6.00%	6/15/2030		4,678,000		4,607,236
Kernel Holding SA (Ukraine)†(d)	6.50%	10/17/2024		9,834,000		6,330,637
Kernel Holding SA (Ukraine)†(d)	6.75%	10/27/2027		3,832,000		2,299,200
MHP Lux SA (Luxembourg)†(d)	6.25%	9/19/2029		9,792,000		4,832,352
Total						18,069,425
Airlines 2.62%
Air Canada (Canada)†(d)	3.875%	8/15/2026		14,035,000		13,043,798
Allegiant Travel Co.†	7.25%	8/15/2027		5,432,000		5,397,371
American Airlines Group, Inc.†	3.75%	3/1/2025		8,823,000		8,348,736

See Notes to Financial Statements. 123

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Airlines (continued)
American Airlines, Inc.†	7.25%		2/15/2028	$	3,505,000	$	3,434,144
American Airlines, Inc.†	11.75%		7/15/2025		16,877,000		18,502,354
American Airlines, Inc./AAdvantage Loyalty IP Ltd.†	5.75%		4/20/2029		8,840,146		8,478,702
Azul Investments LLP†	7.25%		6/15/2026		10,995,000		8,400,182
Delta Air Lines, Inc.	3.75%		10/28/2029		9,924,000		8,855,935
Delta Air Lines, Inc./SkyMiles IP Ltd.†	4.75%		10/20/2028		4,430,000		4,281,844
Finnair Oyj(e)	4.25%		5/19/2025	EUR	4,549,000		4,417,272
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.†	5.75%		1/20/2026	$	8,322,471		7,746,571
United Airlines, Inc.†	4.375%		4/15/2026		9,711,000		9,196,816
United Airlines, Inc.†	4.625%		4/15/2029		12,418,000		11,261,355
Total							111,365,080
Apparel 0.70%
BK LC Lux Finco1 Sarl(e)	5.25%		4/30/2029	EUR	9,234,000		9,075,079
Crocs, Inc.†	4.125%		8/15/2031	$	8,551,000		6,969,065
Golden Goose SpA†(e)	8.198% (3 mo. EUR EURIBOR + 4.88%	)#	5/14/2027	EUR	4,359,000		4,633,011
Kontoor Brands, Inc.†	4.125%		11/15/2029	$	5,677,000		4,792,325
Levi Strauss & Co.†	3.50%		3/1/2031		5,159,000		4,272,116
Total							29,741,596
Auto Manufacturers 2.21%
Allison Transmission, Inc.†	3.75%		1/30/2031		8,420,000		7,117,229
Aston Martin Capital Holdings Ltd. (Jersey)†(d)	10.50%		11/30/2025		4,483,000		4,484,681
Ford Motor Co.	3.25%		2/12/2032		14,813,000		11,269,323
Ford Motor Co.	6.10%		8/19/2032		9,457,000		8,898,011
Ford Motor Credit Co. LLC	2.90%		2/10/2029		35,868,000		29,207,545
Ford Motor Credit Co. LLC	4.00%		11/13/2030		23,214,000		19,527,396
Ford Motor Credit Co. LLC	7.35%		11/4/2027		2,604,000		2,633,542
Jaguar Land Rover Automotive PLC (United Kingdom)†(d)	4.50%		10/1/2027		7,419,000		6,331,960
Wabash National Corp.†	4.50%		10/15/2028		5,162,000		4,497,160
Total							93,966,847
Auto Parts & Equipment 0.91%
Adient Global Holdings Ltd.†	7.00%		4/15/2028		6,506,000		6,580,715
Adient Global Holdings Ltd.†	8.25%		4/15/2031		6,428,000		6,428,324
American Axle & Manufacturing, Inc.	5.00%		10/1/2029		5,365,000		4,367,488
Clarios Global LP/Clarios U.S. Finance Co.†	6.75%		5/15/2028		5,611,000		5,616,499

124 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Auto Parts & Equipment (continued)
Dornoch Debt Merger Sub, Inc.†	6.625%		10/15/2029	$	5,929,000	$	4,458,063
IHO Verwaltungs GmbH(e)	8.75%		5/15/2028	EUR	4,033,000		4,383,621
IHO Verwaltungs GmbH†(e)	8.75%		5/15/2028	EUR	1,716,000		1,865,185
ZF North America Capital, Inc.†	6.875%		4/14/2028	$	1,786,000		1,795,493
ZF North America Capital, Inc.†	7.125%		4/14/2030		3,097,000		3,122,488
Total							38,617,876
Banks 1.20%
Akbank TAS (Turkey)†(d)	5.125%		3/31/2025		2,672,000		2,449,610
Freedom Mortgage Corp.†	8.25%		4/15/2025		5,772,000		5,520,869
Intesa Sanpaolo SpA (Italy)†(d)	4.198% (1 yr. CMT + 2.60%	)#	6/1/2032		12,414,000		9,405,269
Popular, Inc.	7.25%		3/13/2028		8,289,000		8,221,493
Synovus Financial Corp.	5.90% (5 yr. USD Swap + 3.38%	)#	2/7/2029		12,781,000		11,113,760
Texas Capital Bancshares, Inc.	4.00% (5 yr. CMT + 3.15%	)#	5/6/2031		9,075,000		6,770,359
Texas Capital Bank NA	5.25%		1/31/2026		8,402,000		7,598,189
Total							51,079,549
Beverages 0.10%
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL (Guatemala)†(d)	5.25%		4/27/2029		4,385,000		4,081,996
Biotechnology 0.16%
Grifols Escrow Issuer SA (Spain)†(d)	4.75%		10/15/2028		8,076,000		6,840,251
Building Materials 2.05%
Boise Cascade Co.†	4.875%		7/1/2030		5,346,000		4,798,289
Builders FirstSource, Inc.†	4.25%		2/1/2032		6,000,000		5,160,481
Builders FirstSource, Inc.†	6.375%		6/15/2032		10,458,000		10,298,719
Eco Material Technologies, Inc.†	7.875%		1/31/2027		7,139,000		6,792,009
Emerald Debt Merger Sub LLC†	6.625%		12/15/2030		11,161,000		11,085,663
Griffon Corp.	5.75%		3/1/2028		9,742,000		8,996,206
JELD-WEN, Inc.†	4.875%		12/15/2027		7,843,000		6,841,371
MIWD Holdco II LLC/MIWD Finance Corp.†	5.50%		2/1/2030		6,196,000		4,995,339
New Enterprise Stone & Lime Co., Inc.†	9.75%		7/15/2028		6,012,000		5,717,622
PGT Innovations, Inc.†	4.375%		10/1/2029		5,700,000		5,210,057
Smyrna Ready Mix Concrete LLC†	6.00%		11/1/2028		4,994,000		4,651,491
Standard Industries, Inc.†	3.375%		1/15/2031		8,976,000		7,020,899

See Notes to Financial Statements. 125

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Building Materials (continued)
Summit Materials LLC/Summit Materials Finance Corp.†	5.25%	1/15/2029	$	5,146,000	$	4,835,362
Victors Merger Corp.†	6.375%	5/15/2029		1,145,000		731,001
Total						87,134,509
Chemicals 2.58%
ASP Unifrax Holdings, Inc.†	5.25%	9/30/2028		5,156,000		3,889,557
Axalta Coating Systems LLC†	3.375%	2/15/2029		4,569,000		3,921,047
CVR Partners LP/CVR Nitrogen Finance Corp.†	6.125%	6/15/2028		7,772,000		6,752,530
INEOS Finance PLC (United Kingdom)†(d)	6.75%	5/15/2028		8,526,000		8,406,338
Ingevity Corp.†	3.875%	11/1/2028		12,151,000		10,045,475
LSF11 A5 HoldCo LLC†	6.625%	10/15/2029		5,557,000		4,752,874
Methanex Corp. (Canada)(d)	5.25%	12/15/2029		4,500,000		4,099,756
Minerals Technologies, Inc.†	5.00%	7/1/2028		7,013,000		6,465,409
Olin Corp.	5.00%	2/1/2030		11,691,000		10,667,307
Rain CII Carbon LLC/CII Carbon Corp.†	7.25%	4/1/2025		7,957,000		7,722,662
SCIH Salt Holdings, Inc.†	4.875%	5/1/2028		4,857,000		4,308,433
SCIH Salt Holdings, Inc.†	6.625%	5/1/2029		4,986,000		4,135,509
SCIL IV LLC/SCIL USA Holdings LLC†	5.375%	11/1/2026		10,031,000		9,265,869
SK Invictus Intermediate II Sarl (Luxembourg)†(d)	5.00%	10/30/2029		5,165,000		4,105,994
SPCM SA (France)†(d)	3.375%	3/15/2030		13,098,000		10,884,875
Tronox, Inc.†	4.625%	3/15/2029		4,713,000		3,831,011
Valvoline, Inc.†	3.625%	6/15/2031		7,654,000		6,288,258
Total						109,542,904
Coal 0.74%
Coronado Finance Pty. Ltd. (Australia)†(d)	10.75%	5/15/2026		9,717,000		10,004,186
SunCoke Energy, Inc.†	4.875%	6/30/2029		15,488,000		12,768,401
Warrior Met Coal, Inc.†	7.875%	12/1/2028		8,491,000		8,505,681
Total						31,278,268
Commercial Services 4.26%
AA Bond Co. Ltd.(e)	6.50%	1/31/2026	GBP	7,709,000		8,175,141
Albion Financing 2Sarl (Luxembourg)†(d)	8.75%	4/15/2027	$	1,592,000		1,384,639
Allied Universal Holdco LLC/Allied Universal Finance Corp.†	9.75%	7/15/2027		9,461,000		8,311,737
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl (Luxembourg)†(d)	4.625%	6/1/2028		16,916,000		13,883,394
Alta Equipment Group, Inc.†	5.625%	4/15/2026		9,076,000		8,332,676
AMN Healthcare, Inc.†	4.00%	4/15/2029		7,079,000		6,206,372

126 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Commercial Services (continued)
APi Group DE, Inc.†	4.125%	7/15/2029	$	7,356,000	$	6,398,249
APi Group DE, Inc.†	4.75%	10/15/2029		7,587,000		6,825,904
Ashtead Capital, Inc.†	5.50%	8/11/2032		4,739,000		4,561,745
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.†	4.75%	4/1/2028		11,539,000		10,301,211
BCP V Modular Services Finance II PLC(e)	4.75%	11/30/2028	EUR	7,070,000		6,310,199
Block, Inc.	2.75%	6/1/2026	$	2,650,000		2,387,385
Block, Inc.	3.50%	6/1/2031		6,892,000		5,636,677
Garda World Security Corp. (Canada)†(d)	7.75%	2/15/2028		6,376,000		6,401,727
Gartner, Inc.†	3.75%	10/1/2030		5,119,000		4,496,586
Herc Holdings, Inc.†	5.50%	7/15/2027		9,432,000		8,966,072
Hertz Corp.†	6.00%	1/15/2028		6,517,000		521,360
Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer, Inc.†	5.00%	2/1/2026		4,873,000		4,354,391
Mersin Uluslararasi Liman Isletmeciligi AS (Turkey)(d)	5.375%	11/15/2024		4,441,000		4,236,799
NESCO Holdings II, Inc.†	5.50%	4/15/2029		8,973,000		7,941,374
PeopleCert Wisdom Issuer PLC(e)	5.75%	9/15/2026	EUR	10,726,000		11,086,220
Port of Newcastle Investments Financing Pty. Ltd. (Australia)†(d)	5.90%	11/24/2031	$	9,736,000		8,482,827
Q-Park Holding I BV(e)	2.00%	3/1/2027	EUR	1,791,000		1,631,249
Sabre Global, Inc.†	9.25%	4/15/2025	$	8,963,000		8,569,569
Service Corp. International	3.375%	8/15/2030		5,075,000		4,230,342
Sotheby’s†	7.375%	10/15/2027		4,985,000		4,374,036
United Rentals North America, Inc.	3.875%	2/15/2031		14,791,000		12,703,733
Williams Scotsman International, Inc.†	4.625%	8/15/2028		4,796,000		4,387,621
Total						181,099,235
Computers 0.68%
Crowdstrike Holdings, Inc.	3.00%	2/15/2029		5,370,000		4,685,690
McAfee Corp.†	7.375%	2/15/2030		7,951,000		6,694,558
Presidio Holdings, Inc.†	8.25%	2/1/2028		4,934,000		4,544,741
Science Applications International Corp.†	4.875%	4/1/2028		4,923,000		4,590,525
Seagate HDD Cayman (Cayman Islands)†(d)	8.25%	12/15/2029		3,969,000		4,062,404
Seagate HDD Cayman (Cayman Islands)†(d)	8.50%	7/15/2031		4,287,000		4,395,654
Total						28,973,572
Cosmetics/Personal Care 0.11%
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC†	4.75%	1/15/2029		5,118,000		4,705,003

See Notes to Financial Statements. 127

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Distribution/Wholesale 0.97%
American Builders & Contractors Supply Co., Inc.†	4.00%	1/15/2028	$	7,528,000	$	6,877,203
BCPE Empire Holdings, Inc.†	7.625%	5/1/2027		4,609,000		4,223,849
H&E Equipment Services, Inc.†	3.875%	12/15/2028		14,729,000		12,659,057
Resideo Funding, Inc.†	4.00%	9/1/2029		11,767,000		9,812,397
Ritchie Bros Holdings, Inc.†	6.75%	3/15/2028		3,052,000		3,092,103
Ritchie Bros Holdings, Inc.†	7.75%	3/15/2031		4,407,000		4,598,793
Total						41,263,402
Diversified Financial Services 1.73%
AG Issuer LLC†	6.25%	3/1/2028		9,113,000		8,414,873
AG TTMT Escrow Issuer LLC†	8.625%	9/30/2027		11,195,000		11,349,715
Armor Holdco, Inc.†	8.50%	11/15/2029		6,034,000		5,106,816
Jane Street Group/JSG Finance, Inc.†	4.50%	11/15/2029		4,712,000		4,023,640
Jefferson Capital Holdings LLC†	6.00%	8/15/2026		8,416,000		6,783,187
Navient Corp.	4.875%	3/15/2028		7,609,000		6,310,714
Navient Corp.	5.50%	3/15/2029		5,191,000		4,301,600
OneMain Finance Corp.	4.00%	9/15/2030		5,954,000		4,399,351
PennyMac Financial Services, Inc.†	5.75%	9/15/2031		10,665,000		8,597,500
PRA Group, Inc.†	8.375%	2/1/2028		6,365,000		5,637,003
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(d)	7.875%	5/1/2027		9,716,000		8,778,698
Total						73,703,097
Electric 3.56%
Atlantica Sustainable Infrastructure PLC (United Kingdom)†(d)	4.125%	6/15/2028		5,246,000		4,698,216
Calpine Corp.†	3.75%	3/1/2031		12,655,000		10,330,948
Calpine Corp.†	4.625%	2/1/2029		5,864,000		4,965,397
Calpine Corp.†	5.00%	2/1/2031		11,188,000		9,043,291
Clearway Energy Operating LLC†	3.75%	2/15/2031		4,872,000		4,093,831
DPL, Inc.	4.35%	4/15/2029		10,881,000		9,647,691
Elwood Energy LLC	8.159%	7/5/2026		1,891,126		1,560,179
Leeward Renewable Energy Operations LLC†	4.25%	7/1/2029		11,364,000		10,011,741
NextEra Energy Operating Partners LP†	4.50%	9/15/2027		11,943,000		11,139,176
NRG Energy, Inc.†	3.875%	2/15/2032		14,553,000		11,311,698
NSG Holdings LLC/NSG Holdings, Inc.†	7.75%	12/15/2025		2,921,260		2,906,420
Pampa Energia SA (Argentina)(d)	7.50%	1/24/2027		5,411,000		4,995,104
Pattern Energy Operations LP/Pattern Energy Operations, Inc.†	4.50%	8/15/2028		14,462,000		13,152,984

128 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
Electric (continued)
PG&E Corp.	5.00%		7/1/2028		$	9,075,000	$	8,379,214
Pike Corp.†	5.50%		9/1/2028			9,261,000		8,279,149
Talen Energy Supply LLC†	8.625%		6/1/2030			4,979,000		5,072,107
TransAlta Corp. (Canada)(d)	7.75%		11/15/2029			8,250,000		8,591,137
Vistra Corp.†	7.00% (5 yr. CMT + 5.74%	)#	–	(f)		6,374,000		5,612,466
Vistra Operations Co. LLC†	4.375%		5/1/2029			20,222,000		17,643,865
Total								151,434,614
Electrical Components & Equipment 0.17%
EnerSys†	4.375%		12/15/2027			7,863,000		7,322,580
Electronics 0.43%
Atkore, Inc.†	4.25%		6/1/2031			16,303,000		13,956,979
Imola Merger Corp.†	4.75%		5/15/2029			4,983,000		4,292,178
Total								18,249,157
Energy-Alternate Sources 0.54%
TerraForm Power Operating LLC†	4.75%		1/15/2030			11,460,000		10,301,050
TerraForm Power Operating LLC†	5.00%		1/31/2028			7,871,000		7,390,161
YPF Energia Electrica SA (Argentina)†(d)	10.00%		7/25/2026			5,950,000		5,222,065
Total								22,913,276
Engineering & Construction 0.83%
Arcosa, Inc.†	4.375%		4/15/2029			8,502,000		7,696,220
Dycom Industries, Inc.†	4.50%		4/15/2029			12,329,000		11,148,380
Fluor Corp.	4.25%		9/15/2028			4,911,000		4,518,120
Great Lakes Dredge & Dock Corp.†	5.25%		6/1/2029			7,888,000		6,206,553
Weekley Homes LLC/Weekley Finance Corp.†	4.875%		9/15/2028			6,650,000		5,839,465
Total								35,408,738
Entertainment 4.77%
Allwyn Entertainment Financing U.K. PLC (United Kingdom)†(d)	7.875%		4/30/2029			8,431,000		8,375,102
AMC Entertainment Holdings, Inc.†	7.50%		2/15/2029			9,106,000		6,398,194
Boyne USA, Inc.†	4.75%		5/15/2029			10,192,000		9,113,690
Caesars Entertainment, Inc.†	4.625%		10/15/2029			6,313,000		5,450,423
Caesars Entertainment, Inc.†	7.00%		2/15/2030			6,535,000		6,570,851
CDI Escrow Issuer, Inc.†	5.75%		4/1/2030			13,805,000		12,953,031
Cedar Fair LP	5.25%		7/15/2029			4,385,000		4,037,144
Churchill Downs, Inc.†	4.75%		1/15/2028			14,891,000		13,794,750

See Notes to Financial Statements. 129

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Entertainment (continued)
Cinemark USA, Inc.†	5.875%	3/15/2026	$	5,000,000	$	4,757,900
Empire Resorts, Inc.†	7.75%	11/1/2026		8,365,000		6,741,030
Inter Media & Communication SpA(e)	6.75%	2/9/2027	EUR	7,600,000		7,754,829
International Game Technology PLC†	5.25%	1/15/2029	$	6,316,000		5,982,010
Jacobs Entertainment, Inc.†	6.75%	2/15/2029		6,969,000		6,125,437
Juventus Football Club SpA(e)	3.375%	2/19/2024	EUR	4,354,000		4,471,425
Live Nation Entertainment, Inc.†	3.75%	1/15/2028	$	4,574,000		4,124,010
Live Nation Entertainment, Inc.†	4.75%	10/15/2027		5,135,000		4,763,919
Loarre Investments Sarl†(e)	6.50%	5/15/2029	EUR	11,107,000		11,372,248
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.†	4.875%	5/1/2029	$	13,399,000		11,828,168
Mohegan Tribal Gaming Authority†	8.00%	2/1/2026		9,621,000		8,493,275
Motion Bondco DAC (Ireland)†(d)	6.625%	11/15/2027		4,670,000		4,257,249
Motion Finco Sarl†(e)(g)	7.375%	6/15/2030	EUR	3,363,000		3,580,829
Penn Entertainment, Inc.†	4.125%	7/1/2029	$	7,486,000		6,046,180
Pinewood Finance Co. Ltd.(e)	3.625%	11/15/2027	GBP	2,064,000		2,290,023
Pinewood Finance Co. Ltd.†(e)	3.625%	11/15/2027	GBP	5,640,000		6,257,622
Resorts World Las Vegas LLC/RWLV Capital, Inc.†	4.625%	4/6/2031	$	12,700,000		9,682,449
SeaWorld Parks & Entertainment, Inc.†	5.25%	8/15/2029		10,348,000		9,287,744
WMG Acquisition Corp.†	3.00%	2/15/2031		4,991,000		4,030,757
WMG Acquisition Corp.†	3.75%	12/1/2029		7,203,000		6,204,952
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.†	7.125%	2/15/2031		8,143,000		8,149,013
Total						202,894,254
Environmental Control 0.35%
Clean Harbors, Inc.†	6.375%	2/1/2031		5,429,000		5,444,473
Harsco Corp.†	5.75%	7/31/2027		5,237,000		4,534,428
Madison IAQ LLC†	5.875%	6/30/2029		6,566,000		5,005,797
Total						14,984,698
Food 3.16%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC†	3.50%	3/15/2029		17,662,000		15,387,016
Bellis Finco PLC(e)	4.00%	2/16/2027	GBP	9,100,000		8,569,514
Chobani LLC/Chobani Finance Corp., Inc.†	4.625%	11/15/2028	$	10,231,000		9,293,175
Ingles Markets, Inc.†	4.00%	6/15/2031		12,946,000		10,961,261
Lamb Weston Holdings, Inc.†	4.125%	1/31/2030		18,151,000		16,184,194
Performance Food Group, Inc.†	4.25%	8/1/2029		8,582,000		7,586,797
Picard Bondco SA(e)	5.375%	7/1/2027	EUR	9,300,000		8,326,132
Pilgrim’s Pride Corp.	4.25%	4/15/2031	$	8,962,000		7,662,967

130 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Food (continued)
Post Holdings, Inc.†	4.50%	9/15/2031	$	17,161,000	$	14,544,585
Post Holdings, Inc.†	4.625%	4/15/2030		5,217,000		4,573,190
Post Holdings, Inc.†	5.50%	12/15/2029		2,780,000		2,587,269
Premier Foods Finance PLC(e)	3.50%	10/15/2026	GBP	7,387,000		8,335,724
SEG Holding LLC/SEG Finance Corp.†	5.625%	10/15/2028	$	5,674,000		5,396,064
Tonon Luxembourg SA (Luxembourg)†(d)(h)	6.50%	10/31/2024		1,863,197		280
TreeHouse Foods, Inc.	4.00%	9/1/2028		8,311,000		7,162,711
U.S. Foods, Inc.†	4.625%	6/1/2030		8,736,000		7,871,875
Total						134,442,754
Food Service 0.10%
Aramark Services, Inc.†	5.00%	2/1/2028		4,486,000		4,244,317
Forest Products & Paper 0.11%
Ahlstrom Holding 3 Oy (Finland)†(d)	4.875%	2/4/2028		5,404,000		4,511,985
Hand/Machine Tools 0.10%
IMA Industria Macchine Automatiche SpA(e)	3.75%	1/15/2028	EUR	4,405,000		4,162,319
Health Care-Products 0.56%
Medline Borrower LP†	3.875%	4/1/2029	$	27,674,000		23,897,598
Health Care-Services 4.38%
Acadia Healthcare Co., Inc.†	5.00%	4/15/2029		14,074,000		12,922,937
Catalent Pharma Solutions, Inc.†	3.50%	4/1/2030		13,789,000		11,131,153
Charles River Laboratories International, Inc.†	3.75%	3/15/2029		2,738,000		2,406,291
Charles River Laboratories International, Inc.†	4.00%	3/15/2031		9,623,000		8,280,351
Charles River Laboratories International, Inc.†	4.25%	5/1/2028		4,748,000		4,320,229
CHS/Community Health Systems, Inc.†	4.75%	2/15/2031		4,194,000		3,019,144
CHS/Community Health Systems, Inc.†	5.25%	5/15/2030		14,947,000		11,240,409
CHS/Community Health Systems, Inc.†	6.125%	4/1/2030		7,315,000		3,957,783
CHS/Community Health Systems, Inc.†	6.875%	4/15/2029		6,270,000		3,531,985
DaVita, Inc.†	4.625%	6/1/2030		19,729,000		16,922,755
HealthEquity, Inc.†	4.50%	10/1/2029		18,490,000		16,441,645
Legacy LifePoint Health LLC†	6.75%	4/15/2025		8,423,000		7,521,646
ModivCare Escrow Issuer, Inc.†	5.00%	10/1/2029		8,354,000		6,362,031
Molina Healthcare, Inc.†	3.875%	11/15/2030		22,076,000		18,919,964
Select Medical Corp.†	6.25%	8/15/2026		8,132,000		7,917,082
Tenet Healthcare Corp.	4.375%	1/15/2030		36,395,000		32,460,781
Tenet Healthcare Corp.	6.125%	10/1/2028		4,727,000		4,484,786

See Notes to Financial Statements. 131

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Health Care-Services (continued)
Tenet Healthcare Corp.†	6.75%		5/15/2031	$	5,131,000	$	5,132,334
U.S. Acute Care Solutions LLC†	6.375%		3/1/2026		11,208,000		9,510,436
Total							186,483,742
Holding Companies-Diversified 0.34%
Benteler International AG†(e)	9.375%		5/15/2028	EUR	4,189,000		4,554,298
Benteler International AG (Austria)†(d)	10.50%		5/15/2028	$	2,026,000		2,066,682
Stena International SA(e)	7.25%		2/15/2028	EUR	2,781,000		3,026,267
Stena International SA†(e)	7.25%		2/15/2028	EUR	4,489,000		4,882,263
Total							14,529,510
Home Builders 1.01%
Ashton Woods USA LLC/Ashton Woods Finance Co.†	4.625%		4/1/2030	$	11,198,000		9,261,335
Century Communities, Inc.†	3.875%		8/15/2029		5,807,000		4,979,861
Forestar Group, Inc.†	3.85%		5/15/2026		6,993,000		6,450,833
M/I Homes, Inc.	4.95%		2/1/2028		12,993,000		12,172,557
STL Holding Co. LLC†	7.50%		2/15/2026		691,000		625,534
Tri Pointe Homes, Inc.	5.25%		6/1/2027		10,152,000		9,634,451
Total							43,124,571
Housewares 0.15%
Scotts Miracle-Gro Co.	4.00%		4/1/2031		8,195,000		6,519,450
Insurance 0.93%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer†	6.75%		10/15/2027		5,020,000		4,684,649
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer†	6.75%		4/15/2028		10,586,000		10,397,921
Ardonagh Midco 2 PLC (United Kingdom)†(d)	11.50%		1/15/2027		9,785,907		8,437,766
Global Atlantic Fin Co.†	4.70% (5 yr. CMT + 3.80%	)#	10/15/2051		7,581,000		5,900,254
Jones Deslauriers Insurance Management, Inc. (Canada)†(d)	8.50%		3/15/2030		5,541,000		5,534,892
Jones Deslauriers Insurance Management, Inc. (Canada)†(d)	10.50%		12/15/2030		4,617,000		4,635,653
Total							39,591,135
Internet 0.97%
EquipmentShare.com, Inc.†	9.00%		5/15/2028		4,580,000		4,207,875
Gen Digital, Inc.†	7.125%		9/30/2030		9,283,000		9,275,702
Go Daddy Operating Co. LLC/GD Finance Co., Inc.†	3.50%		3/1/2029		10,228,000		8,864,345

132 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Internet (continued)
MercadoLibre, Inc. (Uruguay)(d)	2.375%	1/14/2026	$	4,866,000	$	4,463,098
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.†	4.75%	4/30/2027		7,201,000		6,144,832
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.†	6.00%	2/15/2028		5,175,000		3,837,469
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.†	10.75%	6/1/2028		5,122,000		4,545,017
Total						41,338,338
Iron-Steel 1.25%
ArcelorMittal SA (Luxembourg)(d)	6.80%	11/29/2032		6,741,000		6,958,856
ATI, Inc.	5.125%	10/1/2031		8,276,000		7,269,327
Carpenter Technology Corp.	7.625%	3/15/2030		9,392,000		9,477,326
Commercial Metals Co.	4.125%	1/15/2030		5,598,000		4,920,682
Mineral Resources Ltd. (Australia)†(d)	8.00%	11/1/2027		5,126,000		5,145,684
Mineral Resources Ltd. (Australia)†(d)	8.50%	5/1/2030		6,679,000		6,710,191
U.S. Steel Corp.	6.65%	6/1/2037		9,109,000		8,381,761
U.S. Steel Corp.	6.875%	3/1/2029		4,463,000		4,317,819
Total						53,181,646
Leisure Time 3.00%
Carnival Corp.†	4.00%	8/1/2028		15,297,000		13,355,664
Carnival Corp.†	5.75%	3/1/2027		5,404,000		4,632,236
Carnival Corp.†	6.00%	5/1/2029		3,428,000		2,853,543
Carnival Corp.†	9.875%	8/1/2027		4,254,000		4,395,037
Carnival Corp.†	10.50%	6/1/2030		3,428,000		3,443,453
Carnival Holdings Bermuda Ltd.†	10.375%	5/1/2028		7,929,000		8,590,072
Life Time, Inc.†	5.75%	1/15/2026		9,587,000		9,299,450
Lindblad Expeditions LLC†	6.75%	2/15/2027		10,344,000		9,655,762
NCL Corp. Ltd.†	5.875%	3/15/2026		7,684,000		6,978,968
NCL Corp. Ltd.†	5.875%	2/15/2027		9,556,000		9,110,084
NCL Corp. Ltd.†	8.375%	2/1/2028		2,617,000		2,709,111
Royal Caribbean Cruises Ltd.†	4.25%	7/1/2026		9,511,000		8,725,365
Royal Caribbean Cruises Ltd.†	7.25%	1/15/2030		3,969,000		4,008,209
Royal Caribbean Cruises Ltd.†	8.25%	1/15/2029		15,031,000		15,829,492
Royal Caribbean Cruises Ltd.†	9.25%	1/15/2029		4,843,000		5,154,143
Royal Caribbean Cruises Ltd.†	11.625%	8/15/2027		4,840,000		5,265,050
Vista Outdoor, Inc.†	4.50%	3/15/2029		8,108,000		6,652,817
VOC Escrow Ltd.†	5.00%	2/15/2028		7,553,000		6,808,534
Total						127,466,990

See Notes to Financial Statements. 133

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Lodging 3.14%
Boyd Gaming Corp.†	4.75%	6/15/2031	$	4,646,000	$	4,136,173
Full House Resorts, Inc.†	8.25%	2/15/2028		7,057,000		6,622,712
Genting New York LLC/GENNY Capital, Inc.†	3.30%	2/15/2026		13,593,000		12,151,637
Hilton Domestic Operating Co., Inc.†	3.625%	2/15/2032		8,588,000		7,108,815
Hilton Domestic Operating Co., Inc.†	3.75%	5/1/2029		4,884,000		4,318,095
Hilton Domestic Operating Co., Inc.	4.875%	1/15/2030		6,028,000		5,610,322
Marriott Ownership Resorts, Inc.†	4.50%	6/15/2029		9,542,000		8,187,990
Melco Resorts Finance Ltd. (Hong Kong)†(d)	5.375%	12/4/2029		10,034,000		8,058,781
MGM China Holdings Ltd. (Macau)†(d)	5.875%	5/15/2026		13,805,000		13,063,879
MGM Resorts International	4.625%	9/1/2026		4,492,000		4,251,149
MGM Resorts International	4.75%	10/15/2028		5,119,000		4,669,796
Station Casinos LLC†	4.625%	12/1/2031		12,374,000		10,299,499
Studio City Co. Ltd. (Macau)†(d)	7.00%	2/15/2027		4,631,000		4,320,306
Travel & Leisure Co.†	6.625%	7/31/2026		7,260,000		7,200,867
Wyndham Hotels & Resorts, Inc.†	4.375%	8/15/2028		7,508,000		6,898,425
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.†	5.25%	5/15/2027		17,271,000		16,258,790
Wynn Macau Ltd. (Macau)†(d)	5.50%	10/1/2027		11,811,000		10,261,633
Total						133,418,869
Machinery: Construction & Mining 0.36%
BWX Technologies, Inc.†	4.125%	4/15/2029		5,179,000		4,591,568
Manitowoc Co., Inc.†	9.00%	4/1/2026		4,060,000		4,019,283
Terex Corp.†	5.00%	5/15/2029		7,225,000		6,703,825
Total						15,314,676
Machinery-Diversified 1.19%
ATS Corp. (Canada)†(d)	4.125%	12/15/2028		11,347,000		10,176,330
Chart Industries, Inc.†	7.50%	1/1/2030		7,179,000		7,260,266
Husky III Holding Ltd. (Canada)†(d)	13.00%	2/15/2025		5,431,000		4,969,365
Mueller Water Products, Inc.†	4.00%	6/15/2029		5,187,000		4,664,799
SPX FLOW, Inc.†	8.75%	4/1/2030		9,276,000		7,991,738
TK Elevator Midco GmbH(e)	4.375%	7/15/2027	EUR	9,800,000		9,335,958
TK Elevator U.S. Newco, Inc.†	5.25%	7/15/2027	$	6,775,000		6,246,633
Total						50,645,089
Media 4.20%
Belo Corp.	7.25%	9/15/2027		6,082,000		5,759,897
CCO Holdings LLC/CCO Holdings Capital Corp.†	4.50%	8/15/2030		19,839,000		16,349,159
CCO Holdings LLC/CCO Holdings Capital Corp.†	4.75%	3/1/2030		31,501,000		26,604,748
CCO Holdings LLC/CCO Holdings Capital Corp.†	5.00%	2/1/2028		29,907,000		27,216,779

134 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Media (continued)
CSC Holdings LLC†	4.125%	12/1/2030	$	5,464,000	$	3,798,510
CSC Holdings LLC†	6.50%	2/1/2029		7,271,000		5,733,607
Directv Financing LLC/Directv Financing Co.-Obligor, Inc.†	5.875%	8/15/2027		4,283,000		3,777,361
DISH DBS Corp.	5.875%	11/15/2024		11,108,000		9,527,886
DISH Network Corp.†	11.75%	11/15/2027		12,400,000		11,881,948
Gray Escrow II, Inc.†	5.375%	11/15/2031		9,304,000		5,929,105
McGraw-Hill Education, Inc.†	5.75%	8/1/2028		4,866,000		4,154,591
Nexstar Media, Inc.†	4.75%	11/1/2028		4,836,000		4,086,413
Univision Communications, Inc.†	7.375%	6/30/2030		15,674,000		14,588,287
UPC Broadband Finco BV (Netherlands)†(d)	4.875%	7/15/2031		6,226,000		5,234,759
Virgin Media Finance PLC (United Kingdom)†(d)	5.00%	7/15/2030		12,178,000		9,653,578
Virgin Media Secured Finance PLC (United Kingdom)†(d)	5.50%	5/15/2029		15,130,000		13,618,773
VZ Secured Financing BV (Netherlands)†(d)	5.00%	1/15/2032		13,207,000		10,516,801
Total						178,432,202
Metal Fabricate-Hardware 0.43%
Advanced Drainage Systems, Inc.†	6.375%	6/15/2030		7,112,000		7,018,833
Park-Ohio Industries, Inc.	6.625%	4/15/2027		116,000		98,102
Roller Bearing Co. of America, Inc.†	4.375%	10/15/2029		12,618,000		11,182,702
Total						18,299,637
Mining 1.93%
Coeur Mining, Inc.†	5.125%	2/15/2029		16,411,000		13,844,894
Compass Minerals International, Inc.†	6.75%	12/1/2027		10,182,000		9,747,127
FMG Resources August 2006 Pty. Ltd. (Australia)†(d)	4.375%	4/1/2031		13,869,000		11,733,781
FMG Resources August Pty. Ltd. (Australia)†(d)	6.125%	4/15/2032		13,332,000		12,594,827
Hecla Mining Co.	7.25%	2/15/2028		13,100,000		12,901,994
Hudbay Minerals, Inc. (Canada)†(d)	4.50%	4/1/2026		4,407,000		4,043,780
Mirabela Nickel Ltd.	1.00%	9/10/2044		51,005		–	(b)(c)
Novelis Corp.†	3.875%	8/15/2031		7,508,000		6,174,253
Taseko Mines Ltd. (Canada)†(d)	7.00%	2/15/2026		12,131,000		10,885,460
Total						81,926,116
Miscellaneous Manufacturing 0.65%
Amsted Industries, Inc.†	4.625%	5/15/2030		8,858,000		7,955,591
Calderys Financing LLC†	11.25%	6/1/2028		7,425,000		7,531,549
Ctec II GmbH(e)	5.25%	2/15/2030	EUR	4,500,000		3,963,141
LSB Industries, Inc.†	6.25%	10/15/2028	$	9,212,000		8,348,605
Total						27,798,886

See Notes to Financial Statements. 135

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Oil & Gas 10.00%
Aethon United BR LP/Aethon United Finance Corp.†	8.25%	2/15/2026	$	9,094,000	$	8,811,427
Apache Corp.	4.75%	4/15/2043		11,923,000		8,960,492
Apache Corp.	5.10%	9/1/2040		14,444,000		11,902,145
Ascent Resources Utica Holdings LLC/ARU Finance Corp.†	5.875%	6/30/2029		6,571,000		5,776,271
Baytex Energy Corp. (Canada)†(d)	8.50%	4/30/2030		4,618,000		4,518,973
Baytex Energy Corp. (Canada)†(d)	8.75%	4/1/2027		12,335,000		12,477,802
Berry Petroleum Co. LLC†	7.00%	2/15/2026		12,109,000		11,133,476
California Resources Corp.†	7.125%	2/1/2026		9,166,000		9,311,739
Callon Petroleum Co.	6.375%	7/1/2026		2,648,000		2,518,048
Callon Petroleum Co.†	7.50%	6/15/2030		5,151,000		4,782,455
Callon Petroleum Co.†	8.00%	8/1/2028		11,620,000		11,376,585
Canacol Energy Ltd. (Canada)†(d)	5.75%	11/24/2028		4,871,000		4,100,777
Chesapeake Energy Corp.†	6.75%	4/15/2029		4,710,000		4,611,456
Chord Energy Corp.†	6.375%	6/1/2026		6,558,000		6,466,450
Civitas Resources, Inc.†	5.00%	10/15/2026		10,031,000		9,441,265
CNX Resources Corp.†	6.00%	1/15/2029		8,912,000		8,242,867
CNX Resources Corp.†	7.375%	1/15/2031		6,649,000		6,407,624
Comstock Resources, Inc.†	5.875%	1/15/2030		9,529,000		7,956,746
Comstock Resources, Inc.†	6.75%	3/1/2029		5,634,000		4,930,904
Crescent Energy Finance LLC†	7.25%	5/1/2026		14,103,000		13,131,414
Crescent Energy Finance LLC†	9.25%	2/15/2028		4,293,000		4,160,840
CrownRock LP/CrownRock Finance, Inc.†	5.00%	5/1/2029		9,186,000		8,623,358
Earthstone Energy Holdings LLC†	8.00%	4/15/2027		13,030,000		12,695,976
Encino Acquisition Partners Holdings LLC†	8.50%	5/1/2028		7,798,000		7,172,522
Endeavor Energy Resources LP/EER Finance, Inc.†	5.75%	1/30/2028		5,468,000		5,404,927
Gulfport Energy Corp.†	8.00%	5/17/2026		13,989,004		13,968,930
Hilcorp Energy I LP/Hilcorp Finance Co.†	6.00%	2/1/2031		4,119,000		3,681,477
Kosmos Energy Ltd.†	7.50%	3/1/2028		7,443,000		6,175,836
Matador Resources Co.	5.875%	9/15/2026		14,191,000		13,720,293
Matador Resources Co.	6.875%	4/15/2028		2,623,000		2,604,497
MEG Energy Corp. (Canada)†(d)	5.875%	2/1/2029		13,393,000		12,667,628
Murphy Oil Corp.	6.375%	7/15/2028		8,822,000		8,705,376
Nabors Industries, Inc.†	7.375%	5/15/2027		4,500,000		4,232,700
Noble Finance II LLC†	8.00%	4/15/2030		4,177,000		4,236,794
Occidental Petroleum Corp.	6.125%	1/1/2031		4,115,000		4,186,025
Patterson-UTI Energy, Inc.	3.95%	2/1/2028		7,369,000		6,517,550
PBF Holding Co. LLC/PBF Finance Corp.	6.00%	2/15/2028		4,827,000		4,496,109

136 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Oil & Gas (continued)
PBF Holding Co. LLC/PBF Finance Corp.	7.25%	6/15/2025	$	4,354,000	$	4,344,008
Permian Resources Operating LLC†	5.375%	1/15/2026		10,136,000		9,587,156
Permian Resources Operating LLC†	5.875%	7/1/2029		3,994,000		3,744,441
Permian Resources Operating LLC†	6.875%	4/1/2027		7,413,000		7,220,410
Precision Drilling Corp. (Canada)†(d)	6.875%	1/15/2029		13,649,000		12,237,600
Range Resources Corp.†	4.75%	2/15/2030		7,461,000		6,751,188
Range Resources Corp.	8.25%	1/15/2029		5,654,000		5,895,822
Rockcliff Energy II LLC†	5.50%	10/15/2029		10,083,000		9,276,562
SierraCol Energy Andina LLC†	6.00%	6/15/2028		5,760,000		4,225,536
SM Energy Co.	6.625%	1/15/2027		9,804,000		9,437,041
Southwestern Energy Co.	5.375%	2/1/2029		8,282,000		7,722,340
Southwestern Energy Co.	8.375%	9/15/2028		7,771,000		8,109,668
Tap Rock Resources LLC†	7.00%	10/1/2026		8,331,000		7,815,515
Transocean, Inc.	7.50%	4/15/2031		5,707,000		4,315,262
Vermilion Energy, Inc. (Canada)†(d)	6.875%	5/1/2030		14,801,000		13,485,561
Viper Energy Partners LP†	5.375%	11/1/2027		12,224,000		11,771,712
Vital Energy, Inc.†	7.75%	7/31/2029		8,055,000		6,748,480
Vital Energy, Inc.	10.125%	1/15/2028		13,059,000		12,680,930
Total						425,478,986
Oil & Gas Services 1.34%
Bristow Group, Inc.†	6.875%	3/1/2028		4,693,000		4,382,159
CSI Compressco LP/CSI Compressco Finance, Inc.†	7.50%	4/1/2025		4,643,000		4,449,942
Enerflex Ltd. (Canada)†(d)	9.00%	10/15/2027		4,697,000		4,574,643
Nine Energy Service, Inc.	13.00%	2/1/2028		9,909,000		8,806,276
Oceaneering International, Inc.	6.00%	2/1/2028		14,681,000		13,771,129
USA Compression Partners LP/USA Compression Finance Corp.	6.875%	9/1/2027		7,416,000		6,953,762
Weatherford International Ltd.†	8.625%	4/30/2030		7,833,000		7,878,651
Welltec International ApS (Denmark)†(d)	8.25%	10/15/2026		5,995,000		6,121,675
Total						56,938,237
Packaging & Containers 2.36%
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC†	6.00%	6/15/2027		8,847,000		8,695,760
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. (Ireland)†(d)	4.125%	8/15/2026		11,891,000		11,120,745
Graphic Packaging International LLC†	3.50%	3/1/2029		11,509,000		10,237,733
LABL, Inc.†	6.75%	7/15/2026		8,347,000		8,035,527
LABL, Inc.†	9.50%	11/1/2028		4,377,000		4,401,905

See Notes to Financial Statements. 137

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Packaging & Containers (continued)
Mauser Packaging Solutions Holding Co.†		9.25%		4/15/2027	$	5,000,000	$	4,568,172
Owens-Brockway Glass Container, Inc.†		6.625%		5/13/2027		8,692,000		8,688,958
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC†		4.00%		10/15/2027		9,804,000		8,651,442
Sealed Air Corp.†		5.00%		4/15/2029		3,171,000		2,945,986
Sealed Air Corp.†		6.875%		7/15/2033		11,508,000		11,749,438
Sealed Air Corp./Sealed Air Corp. U.S.†		6.125%		2/1/2028		3,876,000		3,844,399
Trident TPI Holdings, Inc.†		12.75%		12/31/2028		3,943,000		4,036,646
Trivium Packaging Finance BV (Netherlands)†(d)		5.50%		8/15/2026		4,577,000		4,355,944
Trivium Packaging Finance BV(e)	7.073% (3 mo. EUR EURIBOR + 3.75%		)#	8/15/2026	EUR	4,310,000		4,512,609
Trivium Packaging Finance BV (Netherlands)†(d)		8.50%		8/15/2027	$	4,594,000		4,330,761
Total								100,176,025
Pharmaceuticals 2.38%
180 Medical, Inc.†		3.875%		10/15/2029		19,790,000		17,331,042
BellRing Brands, Inc.†		7.00%		3/15/2030		8,551,000		8,677,341
Elanco Animal Health, Inc.		6.65%		8/28/2028		4,576,000		4,390,260
Horizon Therapeutics USA, Inc.†		5.50%		8/1/2027		200,000		200,375
Jazz Securities DAC (Ireland)†(d)		4.375%		1/15/2029		16,725,000		15,000,324
Option Care Health, Inc.†		4.375%		10/31/2029		14,860,000		12,832,874
Organon & Co./Organon Foreign Debt Co.-Issuer BV†		4.125%		4/30/2028		10,949,000		9,759,461
Organon & Co./Organon Foreign Debt Co.-Issuer BV†		5.125%		4/30/2031		10,066,000		8,553,806
Perrigo Finance Unlimited Co. (Ireland)(d)		4.40%		6/15/2030		23,622,000		20,581,830
Teva Pharmaceutical Finance Netherlands III BV (Netherlands)(d)		5.125%		5/9/2029		4,530,000		4,086,913
Total								101,414,226
Pipelines 2.83%
AI Candelaria Spain SA (Spain)†(d)		7.50%		12/15/2028		5,020,964		4,559,663
Antero Midstream Partners LP/Antero Midstream Finance Corp.†		5.375%		6/15/2029		7,460,000		6,867,848
Buckeye Partners LP		3.95%		12/1/2026		4,248,000		3,793,103
Buckeye Partners LP		4.125%		12/1/2027		7,654,000		6,710,029
Buckeye Partners LP	9.293% (3 mo. USD LIBOR + 4.02%		)#	1/22/2078		5,779,000		4,952,103
CNX Midstream Partners LP†		4.75%		4/15/2030		9,074,000		7,525,044
CQP Holdco LP/BIP-V Chinook Holdco LLC†		5.50%		6/15/2031		4,891,000		4,365,353

138 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Pipelines (continued)
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.†	8.00%	4/1/2029	$	12,189,000	$	12,267,314
Delek Logistics Partners LP/Delek Logistics Finance Corp.†	7.125%	6/1/2028		9,913,000		9,032,280
DT Midstream, Inc.†	4.125%	6/15/2029		10,060,000		8,737,473
EnLink Midstream LLC†	6.50%	9/1/2030		3,951,000		3,930,743
Hess Midstream Operations LP†	5.125%	6/15/2028		5,824,000		5,460,990
Holly Energy Partners LP/Holly Energy Finance Corp.†	6.375%	4/15/2027		7,694,000		7,603,487
Kinetik Holdings LP†	5.875%	6/15/2030		6,823,000		6,472,025
Northriver Midstream Finance LP (Canada)†(d)	5.625%	2/15/2026		7,831,000		7,308,946
Venture Global Calcasieu Pass LLC†	3.875%	8/15/2029		3,921,000		3,415,950
Venture Global Calcasieu Pass LLC†	3.875%	11/1/2033		5,311,000		4,356,411
Venture Global Calcasieu Pass LLC†	4.125%	8/15/2031		6,589,000		5,687,786
Venture Global LNG, Inc.†	8.125%	6/1/2028		2,651,000		2,667,277
Venture Global LNG, Inc.†	8.375%	6/1/2031		4,769,000		4,798,711
Total						120,512,536
Real Estate 0.53%
Country Garden Holdings Co. Ltd. (China)(d)	3.125%	10/22/2025		5,316,000		1,901,861
Howard Hughes Corp.†	5.375%	8/1/2028		10,245,000		9,125,170
Hunt Cos., Inc.†	5.25%	4/15/2029		5,915,000		4,549,444
Logan Group Co. Ltd. (China)(d)	4.50%	1/13/2028		10,233,000		1,151,213
Logan Group Co. Ltd. (China)(d)(h)	5.25%	2/23/2023		6,428,000		739,219
Shimao Group Holdings Ltd. (Hong Kong)(d)	3.45%	1/11/2031		1,074,000		107,326
Shimao Group Holdings Ltd. (Hong Kong)(d)	5.20%	1/16/2027		23,117,000		2,641,014
Sunac China Holdings Ltd. (China)(d)(h)	5.95%	4/26/2024		9,969,000		1,557,114
Sunac China Holdings Ltd. (China)(d)	6.50%	1/10/2025		5,883,000		904,191
Total						22,676,552
REITS 0.74%
HAT Holdings I LLC/HAT Holdings II LLC†	3.375%	6/15/2026		8,038,000		7,042,525
HAT Holdings I LLC/HAT Holdings II LLC†	3.75%	9/15/2030		10,765,000		8,159,007
Service Properties Trust	5.25%	2/15/2026		4,253,000		3,797,078
Service Properties Trust	7.50%	9/15/2025		12,497,000		12,266,493
Total						31,265,103
Retail 4.38%
1011778 BC ULC/New Red Finance, Inc. (Canada)†(d)	4.00%	10/15/2030		13,876,000		11,926,194
Afflelou SAS(e)	4.25%	5/19/2026	EUR	5,350,000		5,428,397

See Notes to Financial Statements. 139

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Retail (continued)
Arko Corp.†	5.125%	11/15/2029	$	5,630,000	$	4,439,283
Asbury Automotive Group, Inc.†	5.00%	2/15/2032		8,232,000		7,070,651
Bath & Body Works, Inc.†	6.625%	10/1/2030		9,869,000		9,414,648
Beacon Roofing Supply, Inc.†	4.125%	5/15/2029		4,996,000		4,316,019
Bloomin’ Brands, Inc./OSI Restaurant Partners LLC†	5.125%	4/15/2029		7,860,000		7,036,429
Carrols Restaurant Group, Inc.†	5.875%	7/1/2029		5,174,000		4,294,999
Douglas GmbH(e)	6.00%	4/8/2026	EUR	5,645,000		5,547,455
Dufry One BV(e)	3.375%	4/15/2028	EUR	12,495,000		11,824,066
Dutch Lion BV†(e)	11.25%	6/15/2020	EUR	9,152,880		–	(b)(c)
Evergreen Acqco 1 LP/TVI, Inc.†	9.75%	4/26/2028	$	7,961,000		7,973,379
Gap, Inc.†	3.875%	10/1/2031		11,071,000		7,650,358
GPS Hospitality Holding Co. LLC/GPS Finco, Inc.†	7.00%	8/15/2028		6,670,000		4,192,228
GYP Holdings III Corp.†	4.625%	5/1/2029		5,799,000		5,037,910
LBM Acquisition LLC†	6.25%	1/15/2029		5,471,000		4,338,230
LCM Investments Holdings II LLC†	4.875%	5/1/2029		5,053,000		4,219,939
Macy’s Retail Holdings LLC†	5.875%	4/1/2029		7,152,000		6,331,576
Marks & Spencer PLC(e)	4.50%	7/10/2027	GBP	6,000,000		6,712,455
Murphy Oil USA, Inc.†	3.75%	2/15/2031	$	6,873,000		5,816,844
Murphy Oil USA, Inc.	4.75%	9/15/2029		5,530,000		5,113,204
Nordstrom, Inc.	4.375%	4/1/2030		5,843,000		4,651,525
Papa John’s International, Inc.†	3.875%	9/15/2029		1,278,000		1,071,808
PetSmart, Inc./PetSmart Finance Corp.†	4.75%	2/15/2028		13,983,000		12,950,281
PetSmart, Inc./PetSmart Finance Corp.†	7.75%	2/15/2029		6,807,000		6,619,665
Punch Finance PLC†(e)	6.125%	6/30/2026	GBP	6,251,000		6,769,647
SRS Distribution, Inc.†	4.625%	7/1/2028	$	4,965,000		4,387,298
SRS Distribution, Inc.†	6.00%	12/1/2029		5,109,000		4,201,270
Stonegate Pub Co. Financing 2019 PLC(e)	8.25%	7/31/2025	GBP	9,042,000		10,493,325
White Cap Buyer LLC†	6.875%	10/15/2028	$	7,283,000		6,306,333
Total						186,135,416
Savings & Loans 0.00%
Washington Mutual Bank/Debt not acquired by JPMorgan(h)	6.875%	6/15/2011		10,000,000		–	(b)(c)
Semiconductors 0.73%
Entegris Escrow Corp.†	4.75%	4/15/2029		5,759,000		5,389,719
Entegris, Inc.†	3.625%	5/1/2029		11,362,000		9,819,097
ON Semiconductor Corp.†	3.875%	9/1/2028		10,142,000		9,172,577
Synaptics, Inc.†	4.00%	6/15/2029		7,718,000		6,476,367
Total						30,857,760

140 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Software 1.98%
Alteryx, Inc.†	8.75%	3/15/2028	$	8,203,000	$	7,880,718
AthenaHealth Group, Inc.†	6.50%	2/15/2030		6,727,000		5,546,964
Capstone Borrower, Inc.†	8.00%	6/15/2030		7,953,000		7,845,913
Clarivate Science Holdings Corp.†	4.875%	7/1/2029		4,539,000		3,903,538
Cloud Software Group, Inc.†	6.50%	3/31/2029		16,411,000		14,529,269
Cloud Software Group, Inc.†	9.00%	9/30/2029		8,404,000		7,151,342
Elastic NV†	4.125%	7/15/2029		7,128,000		6,172,718
Fair Isaac Corp.†	4.00%	6/15/2028		2,633,000		2,425,882
PTC, Inc.†	4.00%	2/15/2028		4,976,000		4,641,115
ROBLOX Corp.†	3.875%	5/1/2030		13,889,000		11,911,067
Rocket Software, Inc.†	6.50%	2/15/2029		5,175,000		4,224,702
Twilio, Inc.	3.625%	3/15/2029		9,369,000		8,102,030
Total						84,335,258
Telecommunications 1.76%
Altice France SA (France)†(d)	5.125%	7/15/2029		26,885,000		19,168,303
Altice France SA (France)†(d)	8.125%	2/1/2027		10,373,000		8,949,851
Frontier Communications Holdings LLC†	5.875%	10/15/2027		12,943,000		11,547,988
Frontier Communications Holdings LLC†	6.00%	1/15/2030		7,640,000		5,368,559
Iliad Holding SASU (France)†(d)	7.00%	10/15/2028		7,271,000		6,786,184
Lorca Telecom Bondco SA(e)	4.00%	9/18/2027	EUR	5,519,000		5,391,098
Matterhorn Telecom SA(e)	4.00%	11/15/2027	EUR	4,691,000		4,650,846
VF Ukraine PAT via VFU Funding PLC (Ukraine)†(d)	6.20%	2/11/2025	$	9,567,000		5,826,303
Vmed O2 U.K. Financing I PLC (United Kingdom)†(d)	4.75%	7/15/2031		8,552,000		7,040,352
Total						74,729,484
Transportation 0.57%
Carriage Purchaser, Inc.†	7.875%	10/15/2029		6,123,000		4,465,014
Rand Parent LLC†	8.50%	2/15/2030		5,630,000		4,866,459
Seaspan Corp. (Hong Kong)†(d)	5.50%	8/1/2029		6,078,000		4,785,817
Watco Cos. LLC/Watco Finance Corp.†	6.50%	6/15/2027		5,833,000		5,597,284
XPO Escrow Sub LLC†	7.50%	11/15/2027		4,510,000		4,636,505
Total						24,351,079
Trucking & Leasing 0.31%
Fortress Transportation & Infrastructure Investors LLC†	5.50%	5/1/2028		14,781,000		13,286,010
Water 0.10%
Aegea Finance Sarl (Luxembourg)†(d)	6.75%	5/20/2029		4,460,000		4,184,649
Total Corporate Bonds (cost $4,207,460,318)						3,932,620,615

See Notes to Financial Statements. 141

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
FLOATING RATE LOANS(i) 3.32%
Aerospace/Defense 0.17%
Alloy Finco Ltd. USD Holdco PIK Term Loan 13.50% (Jersey)(d)		0.50%		3/6/2025	$	8,172,275	$	7,387,737
Building & Construction 0.10%
USIC Holdings, Inc. 2021 2nd Lien Term Loan		11.654%		5/14/2029		4,759,905		4,420,762
Chemicals 0.10%
Starfruit Finco BV 2023 Term Loan B (Netherlands)(d)	8.99% (3 mo. USD Term SOFR + 4.00%		)	4/3/2028		4,434,531		4,369,853
Commercial Services 0.10%
KUEHG Corp. 2018 Incremental Term Loan	8.909% (3 mo. USD LIBOR + 3.75%		)	2/21/2025		4,398,637		4,396,284
Diversified Capital Goods 0.29%
Grinding Media, Inc. 2021 Term Loan B	9.199% (3 mo. USD Term SOFR + 4.00%		)	10/12/2028		7,314,187		6,975,906
Tank Holding Corp. 2022 Term Loan		11.003%		3/31/2028		5,317,617		5,144,794
Total								12,120,700
Diversified Financial Services 0.10%
Castlelake Aviation Ltd. 2023 Incremental Term Loan B	7.783% (3 mo. USD Term SOFR + 2.75%		)	10/22/2027		4,499,762		4,414,469
Electric: Generation 0.29%
CPV Shore Holdings LLC Term Loan		8.91%		12/29/2025		6,065,788		5,594,598
EFS Cogen Holdings I LLC 2020 Term Loan B	8.66% (3 mo. USD LIBOR + 3.50%		)	10/1/2027		5,108,012		5,053,382
Frontera Generation Holdings LLC 2021 2nd Lien Term Loan	6.659% (3 mo. USD LIBOR + 1.50%		)	7/28/2028		1,196,824		538,571	(j)
Frontera Generation Holdings LLC 2021 Term Loan	18.159% (3 mo. USD LIBOR + 13.00%		)	7/28/2026		1,233,060		1,239,225
Total								12,425,776
Electric: Integrated 0.17%
Compass Power Generation LLC 2022 Term Loan B2		9.517%		4/14/2029		7,256,938		7,209,079

142 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Engineering & Construction 0.20%
Service Logic Acquisition, Inc. Term Loan		9.154% - 9.27% (3 Mo. USD LIBOR + 4.00%	)	10/29/2027	$	8,815,511	$	8,551,046
Environmental Control 0.14%
Madison IAQ LLC Term Loan		8.302% (6 mo. USD LIBOR + 3.25%	)	6/21/2028		5,984,772		5,742,987
Food/Tobacco 0.11%
Reynolds Group Holdings, Inc. 2021 Term Loan B	8.518% (1 mo. USD Term SOFR + 3.25%		)	9/24/2028		4,584,674		4,493,485
Gaming/Leisure 0.10%
City Football Group Ltd. Term Loan (United Kingdom)(d)		8.273% (3 mo. USD LIBOR + 3.00%	)	7/21/2028		4,576,391		4,450,563
Insurance 0.10%
Amynta Agency Borrower, Inc. 2023 Term Loan B	10.166% (3 mo. USD Term SOFR + 5.00%		)	2/28/2028		4,208,808		4,029,050
Internet 0.10%
Uber Technologies, Inc. 2023 Term Loan B	7.87% (3 mo. USD Term SOFR + 2.75%		)	3/3/2030		4,344,673		4,311,545
Investment Management Companies 0.04%
Vue International Bidco PLC 2023 EUR PIK Term Loan 6.50%(e)	4.859% (6 mo. EUR EURIBOR + 2.00%		)	12/31/2027	EUR	2,783,994		1,592,059
Leisure Time 0.12%
Topgolf Callaway Brands Corp. Term Loan B	8.753% (1 mo. USD Term SOFR + 3.50%		)	3/15/2030	$	5,206,000		5,140,482
Machinery 0.13%
CMBF LLC Term Loan	11.108% (3 mo. USD LIBOR + 6.00%		)	8/2/2028		6,032,387		5,398,986
Manufacturing 0.01%
Vue International Bidco PLC 2022 EUR Term Loan(e)	11.086% (6 mo. EUR EURIBOR + 8.00%		)	6/30/2027	EUR	490,811		481,346

See Notes to Financial Statements. 143

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Oil & Gas 0.18%
Parkway Generation LLC Term Loan B	10.275% (3 mo. USD Term SOFR + 4.75%		)	2/18/2029	$	6,821,876	$	6,632,159
Parkway Generation LLC Term Loan C	10.275% (3 mo. USD Term SOFR + 4.75%		)	2/18/2029		918,123		892,159
Total								7,524,318
Oil Field Equipment & Services 0.29%
Ulterra Drilling Technologies LP Term Loan B		10.404%		11/26/2025		12,648,643		12,395,670
Packaging 0.10%
Mauser Packaging Solutions Holding Co. Term Loan B		8.993%		8/14/2026		4,373,967		4,286,488
Personal & Household Products 0.00%
Britax Child Safety, Inc. Junior Term Loan PIK 12.00%		–	(k)	3/31/2025		1,616,473		–	(b)(l)
FGI Operating Co. LLC Exit Term Loan		–	(k)	5/16/2024		634,319		79,607	(l)
Revlon Consumer Products Corp. 2020 Additional Term Loan B2		8.144% (3 mo. USD LIBOR + 3.50%	)	6/30/2025		77		43
Total								79,650
Retail 0.21%
IRB Holding Corp. 2022 Term Loan B		8.253%		12/15/2027		9,001,682		8,750,805
Software 0.17%
Open Text Corp. 2022 Term Loan B (Canada)(d)	8.753% (1 mo. USD Term SOFR + 3.50%		)	1/31/2030		7,195,834		7,189,826
Total Floating Rate Loans (cost $145,670,538)								141,162,966
FOREIGN GOVERNMENT OBLIGATIONS(d) 0.10%
Sri Lanka
Sri Lanka Government International Bonds†(h) (cost $9,711,571)		5.875%		7/25/2022		10,289,000		4,166,981
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 0.42%
GS Mortgage Securities Corp. Trust Series 2021-RSMZ Class MZ† (cost $20,000,000)		14.607% (1 mo. USD LIBOR + 9.50%	)#	6/15/2026		20,000,000		17,816,866

144 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Investments	Dividend Rate		Shares		Fair Value
PREFERRED STOCKS 0.14%
Transportation Infrastructure
ACBL Holdings Corp.	Zero Coupon			58,909	$	1,443,271
ACBL Holdings Corp.	Zero Coupon			102,014		4,590,630
Total Preferred Stocks (cost $4,023,075)						6,033,901
	Exercise Price	Expiration Date
RIGHTS 0.00%
Personal Care Products 0.00%
Revlon, Inc.* (cost $230,963)	Zero Coupon	9/7/2023		701,653		1	(c)
WARRANTS 0.00%
Machinery 0.00%
TNT Crane & Rigging, Inc.*	$4.00	10/16/2025		26,319		13,160
Specialty Retail 0.00%
Chinos Intermediate Holdings A, Inc.*	3.50			56,246		121,294
Total Warrants (cost $302,137)						134,454
Total Long-Term Investments (cost $4,448,124,324)						4,155,246,107
				Principal Amount
SHORT-TERM INVESTMENTS 0.23%
REPURCHASE AGREEMENTS 0.23%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $11,131,900 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $10,096,111; proceeds: $9,898,832 (cost $9,898,117)				$9,898,117		9,898,117
Total Investments in Securities 97.94% (cost $4,458,022,441)						4,165,144,224
Other Assets and Liabilities – Net(m) 2.06%						87,744,772
Net Assets 100.00%					$	4,252,888,996

EUR	Euro.
GBP	British Pound.
CMT	Constant Maturity Rate.
EURIBOR	Euro Interbank Offered Rate.
LIBOR	London Interbank Offered Rate.
PIK	Payment-in-kind.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

See Notes to Financial Statements. 145

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

*	Non-income producing security.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $3,121,252,734, which represents 73.39% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
(b)	Amount is less than $1.
(c)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security fair valued by the Pricing Committee.
(d)	Foreign security traded in U.S. dollars.
(e)	Investment in non-U.S. dollar denominated securities.
(f)	Security is perpetual in nature and has no stated maturity.
(g)	Securities purchased on a when-issued basis (See Note 2(j)).
(h)	Defaulted (non-income producing security).
(i)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(j)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Floating Rate Loans categorized as Level 3 are valued based on a single quotation obtained from a dealer. Accounting principles generally accepted in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore, the Fund does not have access to unobservable inputs and cannot disclose such inputs in the valuation.
(k)	Interest Rate to be determined.
(l)	Level 3 Investment as described in 2(u) in the Notes to Financials. Floating Rate Loan fair valued by the Pricing Committee. Accounting principles generally accepted in the United States of America do not require the Fund to create quantitative unobservable inputs that were not developed by the Fund. Therefore, the Fund does not have access to unobservable inputs and cannot disclose such inputs in the valuation.
(m)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

Centrally Cleared Credit Default Swap Contracts on Indexes - Sell Protection at May 31, 2023⁽¹⁾:

Referenced Indexes	Central Clearing Party	Fund Receives (Quarterly)	Termination Date	Notional Amount	Payments Upfront(2)	Unrealized Appreciation(3)	Value
Markit CDX.NA.HY.S40(4)(5)	Bank of America	5.000%	6/20/2028	$132,414,000	$1,399,569	$12,858	$1,412,427

(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.
(2)	Upfront payments paid (received) by Central Clearing Party are presented net of amortization.
(3)	Total unrealized appreciation on Credit Default Swap Contracts on Indexes amounted to $12,858. Total unrealized depreciation on Credit Default Swap Contracts on Indexes amounted to $0.
(4)	Central Clearinghouse: Intercontinental Exchange (ICE).
(5)	The Referenced Index is for the Credit Default Swap Contracts on Indexes, which is comprised of a basket of high yield securities.

146 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Appreciation
Euro	Buy	Morgan Stanley	6/13/2023	5,294,000		$5,653,119		$5,662,283		$	9,164
Euro	Sell	Morgan Stanley	6/13/2023	498,000		538,324		532,644			5,680
Euro	Sell	Morgan Stanley	6/13/2023	2,848,000		3,078,415		3,046,124			32,291
Euro	Sell	Morgan Stanley	6/13/2023	4,003,000		4,359,853		4,281,473			78,380
Euro	Sell	Morgan Stanley	6/13/2023	2,878,000		3,151,211		3,078,211			73,000
Euro	Sell	Morgan Stanley	6/13/2023	562,000		615,717		601,096			14,621
Euro	Sell	Morgan Stanley	6/13/2023	2,316,000		2,564,800		2,477,115			87,685
Euro	Sell	State Street Bank and Trust	6/13/2023	1,000,000		1,070,284		1,069,566			718
Euro	Sell	State Street Bank and Trust	6/13/2023	2,340,000		2,559,940		2,502,785			57,155
Euro	Sell	State Street Bank and Trust	6/13/2023	381,000		416,886		407,505			9,381
Euro	Sell	State Street Bank and Trust	6/13/2023	1,494,000		1,651,646		1,597,932			53,714
Euro	Sell	State Street Bank and Trust	6/13/2023	4,189,000		4,626,296		4,480,412			145,884
Euro	Sell	State Street Bank and Trust	6/13/2023	4,770,000		5,190,532		5,101,830			88,702
Euro	Sell	State Street Bank and Trust	6/13/2023	3,363,000		3,619,125		3,596,951			22,174
Euro	Sell	State Street Bank and Trust	6/13/2023	3,754,000		4,040,654		4,015,151			25,503
Euro	Sell	State Street Bank and Trust	6/13/2023	654,000		702,062		699,496			2,566
Euro	Sell	Toronto Dominion Bank	6/13/2023	1,635,000		1,797,332		1,748,741			48,591
Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts										$	755,209

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Depreciation
Euro	Buy	State Street Bank and Trust	6/7/2023	3,363,000	$	3,617,881	$	3,595,708		$	(22,173	)
Euro	Buy	J.P. Morgan	6/13/2023	3,958,000		4,270,706		4,233,343			(37,363	)
Euro	Buy	Morgan Stanley	6/13/2023	3,672,000		3,928,444		3,927,447			(997	)
Euro	Buy	Morgan Stanley	6/13/2023	3,717,000		4,048,970		3,975,577			(73,393	)
Euro	Buy	Morgan Stanley	6/13/2023	892,000		968,314		954,053			(14,261	)
Euro	Buy	State Street Bank and Trust	6/13/2023	4,741,000		5,183,767		5,070,813			(112,954	)
Euro	Buy	State Street Bank and Trust	6/13/2023	121,000		131,526		129,418			(2,108	)
Euro	Buy	Toronto Dominion Bank	6/13/2023	3,275,000		3,629,019		3,502,829			(126,190	)
British pound	Sell	Morgan Stanley	6/8/2023	46,945,000		56,527,320		58,404,262		(1,876,942		)
Euro	Sell	State Street Bank and Trust	6/13/2023	128,384,000		136,590,305		137,315,176			(724,871	)
Euro	Sell	State Street Bank and Trust	6/13/2023	549,000		585,757		587,192			(1,435	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts										$	(2,992,687	)

See Notes to Financial Statements. 147

Schedule of Investments (unaudited)(continued)

HIGH YIELD FUND May 31, 2023

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 10-Year Treasury Note	September 2023	2,312	Long	$	263,843,529		$	264,651,750			$	808,221
U.S. 5-Year Treasury Note	September 2023	5,351	Short		(583,977,946	)		(583,677,047	)			300,899
U.S. Ultra Treasury Bond	September 2023	487	Long		65,683,634			66,658,125				974,491
Total Unrealized Appreciation on Futures Contracts											$	2,083,611

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
Euro-Bund	September 2023	330	Short	EUR	(44,629,064	)	EUR	(44,655,600	)		$	(28,364	)
U.S. 2-Year Treasury Note	September 2023	847	Short	$	(174,336,388	)	$	(174,336,423	)			(35	)
Total Unrealized Depreciation on Futures Contracts											$	(28,399	)

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1		Level 2		Level 3			Total
Long-Term Investments
Asset-Backed Securities
Other	$	–	$	4,565,850	$	9,708,596		$	14,274,446
Common Stocks
Banks		4,294,193		–		–			4,294,193
Electric-Generation		–		–		1,314			1,314
Oil, Gas & Consumable Fuels		1,549		–		–			1,549
Personal Care Products		–		–		6,669,418			6,669,418
Remaining Industries		–		23,341,240		–			23,341,240
Convertible Bonds		–		4,728,163		–			4,728,163
Corporate Bonds
Mining		–		81,926,116		–	(3)		81,926,116
Retail		–		186,135,416		–	(4)		186,135,416
Savings & Loans		–		–		–	(4)		–	(4)
Remaining Industries		–		3,664,559,083		–			3,664,559,083
Floating Rate Loans
Electric: Generation		–		11,887,205		538,571			12,425,776
Personal & Household Products		–		43		79,607			79,650
Remaining Industries		–		128,657,540		–			128,657,540
Foreign Government Obligations		–		4,166,981		–			4,166,981

148 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

HIGH YIELD FUND May 31, 2023

Investment Type(2)	Level 1			Level 2			Level 3		Total
Non-Agency Commercial Mortgage-Backed Securities		–			17,816,866			–		17,816,866
Preferred Stocks		–			6,033,901			–		6,033,901
Rights		–			–			1		1
Warrants		–			134,454			–		134,454
Short-Term Investments
Repurchase Agreements		–			9,898,117			–		9,898,117
Total	$	4,295,742		$	4,143,850,975		$	16,997,507	$	4,165,144,224
Other Financial Instruments
Centrally Cleared Credit Default Swap Contracts
Assets	$	–		$	1,412,427		$	–	$	1,412,427
Liabilities		–			–			–		–
Forward Foreign Currency Exchange Contracts
Assets		–			755,209			–		755,209
Liabilities		–			(2,992,687	)		–		(2,992,687	)
Futures Contracts
Assets		2,083,611			–			–		2,083,611
Liabilities		(28,399	)		–			–		(28,399	)
Total	$	2,055,212		$	(825,051	)	$	–	$	1,230,161

(1)	Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.
(3)	Includes securities with zero market value
(4)	Amount less than $1.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

See Notes to Financial Statements. 149

Schedule of Investments (unaudited)

INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 96.12%
ASSET-BACKED SECURITIES 5.95%
Automobiles 1.56%
Avis Budget Rental Car Funding AESOP LLC Series 2021-1A Class D†		3.71%		8/20/2027	$	12,750,000	$	10,862,470
CarMax Auto Owner Trust Series 2023-1 Class D		6.27%		11/15/2029		8,375,000		8,331,924
Carvana Auto Receivables Trust Series 2019-4A Class E†		4.70%		10/15/2026		7,250,000		7,046,361
Hertz Vehicle Financing LLC Series 2021-1A Class D†		3.98%		12/26/2025		5,000,000		4,675,047
Santander Consumer Auto Receivables Trust Series 2020-BA Class F†		7.03%		8/15/2028		8,452,000		8,460,280
Santander Consumer Auto Receivables Trust Series 2021-AA Class F†		5.79%		8/15/2028		3,100,000		2,904,874
Westlake Automobile Receivables Trust Series 2021-1A Class F†		3.91%		9/15/2027		4,150,000		3,878,602
Total								46,159,558
Credit Card 0.17%
Continental Finance Credit Card ABS Master Trust Series 2020-1A Class B†		3.66%		12/15/2028		4,000,000		3,602,313
Perimeter Master Note Business Trust Series 2019-2A Class A†		4.23%		5/15/2024		1,336,864		1,317,913
Total								4,920,226
Other 3.85%
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class AS†		6.507% (1 mo. USD LIBOR + 1.40%	)#	5/15/2036		8,470,000		8,108,886
Avant Loans Funding Trust Series 2021-REV1 Class D†		4.30%		7/15/2030		7,135,000		6,379,333
CIFC Funding Ltd. Series 2019-2A Class BR†		6.76% (3 mo. USD LIBOR + 1.50%	)#	4/17/2034		5,000,000		4,755,584
CIFC Funding Ltd. Series 2021-4A Class A†		6.31% (3 mo. USD LIBOR + 1.05%	)#	7/15/2033		7,000,000		6,903,750
Elevation CLO Ltd. Series 2014-2A Class DR†	8.448% (3 mo. USD Term SOFR + 3.46%		)#	10/15/2029		1,000,000		938,601
Fairstone Financial Issuance Trust Series I 2020-1A Class C†(a)		5.162%		10/20/2039	CAD	15,535,000		11,211,646
Galaxy XXI CLO Ltd. Series 2015-21A Class AR†		6.27% (3 mo. USD LIBOR + 1.02%	)#	4/20/2031	$	1,012,000		999,603
JFIN CLO Ltd. Series 2013-1A Class A1NR†		6.64% (3 mo. USD LIBOR + 1.39%	)#	1/20/2030		1,548,753		1,540,506

150 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Lending Funding Trust Series 2020-2A Class D†		6.77%		4/21/2031	$	4,651,000	$	4,070,067
Lendmark Funding Trust Series 2021-2A Class D†		4.46%		4/20/2032		5,675,000		4,308,793
LoanCore Issuer Ltd. Series 2022-CRE7 Class A†	6.456% (30 day USD SOFR Average + 1.55%		)#	1/17/2037		6,490,000		6,380,145
Madison Park Funding XVII Ltd. Series 2015-17A Class BR2†		6.761% (3 mo. USD LIBOR + 1.50%	)#	7/21/2030		10,000,000		9,774,099
Marble Point CLO XVII Ltd. Series 2020-1A Class A†		6.55% (3 mo. USD LIBOR + 1.30%	)#	4/20/2033		4,859,946		4,767,607
Mariner Finance Issuance Trust Series 2021-AA Class E†		5.40%		3/20/2036		5,340,000		4,295,631
Mariner Finance Issuance Trust Series 2021-BA Class E†		4.68%		11/20/2036		3,075,000		2,394,077
Mountain View CLO LLC Series 2017-1A Class AR†		6.35% (3 mo. USD LIBOR + 1.09%	)#	10/16/2029		3,045,734		3,024,237
Octagon Loan Funding Ltd. Series 2014-1A Class ARR†		6.525% (3 mo. USD LIBOR + 1.18%	)#	11/18/2031		5,000,000		4,947,907
Rad CLO Ltd. Series 2020-7A Class A1†		6.46% (3 mo. USD LIBOR + 1.20%	)#	4/17/2033		7,850,616		7,723,044
Romark CLO Ltd. Series 2017-1A Class A2R†		6.923% (3 mo. USD LIBOR + 1.65%	)#	10/23/2030		8,890,000		8,647,465
SEB Funding LLC Series 2021-1A Class A2†		4.969%		1/30/2052		9,639,840		8,525,624
Voya CLO Ltd. Series 2018-4A Class A1AR†		6.30% (3 mo. USD LIBOR + 1.04%	)#	1/15/2032		3,950,000		3,891,942
Total								113,588,547
Rec Vehicle Loan 0.37%
Octane Receivables Trust Series 2022-2A Class B†		5.85%		7/20/2028		11,033,000		10,942,485
Total Asset-Backed Securities (cost $187,751,238)								175,610,816
CORPORATE BONDS 82.61%
Agriculture 4.44%
BAT Capital Corp.		7.75%		10/19/2032		28,432,000		31,141,755
Cargill, Inc.†		4.00%		6/22/2032		17,298,000		16,170,209
Imperial Brands Finance PLC (United Kingdom)†(b)		6.125%		7/27/2027		16,816,000		17,117,464
JT International Financial Services BV (Netherlands)†(b)		6.875%		10/24/2032		16,000,000		17,758,809
Philip Morris International, Inc.		5.625%		11/17/2029		22,488,000		23,056,450
Viterra Finance BV (Netherlands)†(b)		2.00%		4/21/2026		5,000,000		4,449,159
Viterra Finance BV (Netherlands)†(b)		3.20%		4/21/2031		19,555,000		15,673,778
Viterra Finance BV (Netherlands)†(b)		4.90%		4/21/2027		5,846,000		5,607,151
Total								130,974,775

See Notes to Financial Statements. 151

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Apparel 0.20%
PVH Corp.	7.75%		11/15/2023	$	5,967,000	$	6,033,492
Banks 16.38%
ABN AMRO Bank NV (Netherlands)†(b)	3.324% (5 yr. CMT + 1.90%	)#	3/13/2037		4,000,000		3,060,997
Bank of America Corp.	2.299% (SOFR + 1.22%	)#	7/21/2032		8,014,000		6,392,572
Bank of America Corp.	2.482% (5 yr. CMT + 1.20%	)#	9/21/2036		10,000,000		7,597,528
Bank of America Corp.	2.687% (SOFR + 1.32%	)#	4/22/2032		36,237,000		29,970,371
Bank of New York Mellon Corp.	4.596% (SOFR + 1.76%	)#	7/26/2030		4,565,000		4,447,268
Bank of New York Mellon Corp.	4.967% (SOFR + 1.61%	)#	4/26/2034		4,989,000		4,963,237
BankUnited, Inc.	5.125%		6/11/2030		9,962,000		7,089,496
Barclays plc (United Kingdom)(b)	6.224% (SOFR + 2.98%	)#	5/9/2034		10,000,000		10,102,149
BNP Paribas SA (France)†(b)	4.375% (5 yr. USD Swap + 1.48%	)#	3/1/2033		6,844,000		6,263,046
BPCE SA (France)†(b)	3.116% (SOFR + 1.73%	)#	10/19/2032		7,584,000		5,873,665
Citigroup, Inc.	2.561% (SOFR + 1.17%	)#	5/1/2032		18,611,000		15,290,551
Citigroup, Inc.	4.91% (SOFR + 2.09%	)#	5/24/2033		15,000,000		14,592,688
Citigroup, Inc.	6.174%	#	5/25/2034		13,417,000		13,614,775
Citizens Bank NA	4.119% (SOFR + 1.40%	)#	5/23/2025		7,770,000		7,270,730
Comerica Bank	2.50%		7/23/2024		1,320,000		1,190,744
Credit Suisse Group AG (Switzerland)†(b)	6.373% (SOFR + 3.34%	)#	7/15/2026		10,000,000		9,866,900
Danske Bank AS (Denmark)†(b)	3.773% (1 yr. CMT + 1.45%	)#	3/28/2025		9,892,000		9,662,199
Danske Bank AS (Denmark)†(b)	5.375%		1/12/2024		12,000,000		11,908,552
Discover Bank	4.682% (5 yr. USD Swap + 1.73%	)#	8/9/2028		7,750,000		7,138,073
Goldman Sachs Group, Inc.	2.383% (SOFR + 1.25%	)#	7/21/2032		28,054,000		22,609,201
Huntington Bancshares, Inc.	2.487% (5 yr. CMT + 1.17%	)#	8/15/2036		3,556,000		2,503,330
Huntington Bancshares, Inc.	2.625%		8/6/2024		6,000,000		5,678,882

152 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Intesa Sanpaolo SpA (Italy)†(b)		4.198% (1 yr. CMT + 2.60%	)#	6/1/2032	$	2,014,000	$	1,525,875
Intesa Sanpaolo SpA (Italy)†(b)		8.248% (1 yr. CMT + 4.40%	)#	11/21/2033		7,000,000		7,406,353
JPMorgan Chase & Co.		2.963% (SOFR + 1.26%	)#	1/25/2033		12,620,000		10,687,439
JPMorgan Chase & Co.		4.912% (SOFR + 2.08%	)#	7/25/2033		32,950,000		32,424,717
KeyBank NA		5.00%		1/26/2033		7,000,000		6,155,811
KeyCorp		2.25%		4/6/2027		5,150,000		4,249,682
KeyCorp		4.789% (SOFR + 2.06%	)#	6/1/2033		3,000,000		2,594,400
M&T Bank Corp.		5.053% (SOFR + 1.85%	)#	1/27/2034		3,705,000		3,421,769
Macquarie Bank Ltd. (Australia)†(b)		3.052% (5 yr. CMT + 1.70%	)#	3/3/2036		9,790,000		7,398,720
Macquarie Bank Ltd. (Australia)†(b)		4.875%		6/10/2025		1,850,000		1,801,359
Macquarie Group Ltd. (Australia)†(b)		2.691% (SOFR + 1.44%	)#	6/23/2032		3,724,000		2,973,694
Manufacturers & Traders Trust Co.		4.65%		1/27/2026		6,418,000		6,116,862
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)		5.406%	#	4/19/2034		10,000,000		10,056,821
Morgan Stanley		2.239% (SOFR + 1.18%	)#	7/21/2032		7,860,000		6,276,569
Morgan Stanley		2.484% (SOFR + 1.36%	)#	9/16/2036		9,129,000		6,897,825
Morgan Stanley	4.431% (3 mo. USD Term SOFR + 1.63%		)#	1/23/2030		1,395,000		1,340,348
Morgan Stanley		5.297% (SOFR + 2.62%	)#	4/20/2037		5,000,000		4,765,403
Morgan Stanley		6.342% (SOFR + 2.56%	)#	10/18/2033		12,965,000		13,896,065
National Australia Bank Ltd. (Australia)†(b)		3.933% (5 yr. CMT + 1.88%	)#	8/2/2034		11,000,000		9,539,885
NatWest Group PLC (United Kingdom)(b)		3.032% (5 yr. CMT + 2.35%	)#	11/28/2035		7,000,000		5,417,185
NatWest Group PLC (United Kingdom)(b)		6.016% (1 yr. CMT + 2.10%	)#	3/2/2034		3,258,000		3,327,575
State Street Corp.		4.164% (SOFR + 1.73%	)#	8/4/2033		14,402,000		13,400,458
Texas Capital Bancshares, Inc.		4.00% (5 yr. CMT + 3.15%	)#	5/6/2031		8,000,000		5,968,361
Toronto-Dominion Bank (Canada)(b)		4.456%		6/8/2032		24,515,000		23,197,819

See Notes to Financial Statements. 153

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
U.S. Bancorp		4.839% (SOFR + 1.60%	)#	2/1/2034	$	14,104,000	$	13,241,399
U.S. Bancorp		4.967% (SOFR + 2.11%	)#	7/22/2033		9,918,000		8,991,508
UBS AG (Switzerland)(b)		5.125%		5/15/2024		13,800,000		13,597,692
UBS Group AG (Switzerland)†(b)		2.746% (1 yr. CMT + 1.10%	)#	2/11/2033		7,700,000		6,091,754
UBS Group AG (Switzerland)†(b)		5.959% (1 yr. CMT + 2.20%	)#	1/12/2034		5,000,000		5,020,997
UniCredit SpA (Italy)†(b)		5.459% (5 yr. CMT + 4.75%	)#	6/30/2035		3,270,000		2,761,648
Wells Fargo & Co.		3.35% (SOFR + 1.50%	)#	3/2/2033		15,461,000		13,291,329
Wells Fargo & Co.		4.897% (SOFR + 2.10%	)#	7/25/2033		9,955,000		9,612,111
Wells Fargo & Co.		5.389% (SOFR + 2.02%	)#	4/24/2034		5,006,000		5,015,570
Western Alliance Bancorp	3.00% (3 mo. USD Term SOFR + 2.25%		)#	6/15/2031		2,558,000		1,816,180
Westpac Banking Corp. (Australia)(b)		2.668% (5 yr. CMT + 1.75%	)#	11/15/2035		8,000,000		6,169,581
Total								483,537,718
Beverages 0.40%
Brown-Forman Corp.		4.75%		4/15/2033		5,669,000		5,686,801
Constellation Brands, Inc.		3.15%		8/1/2029		6,849,000		6,185,597
Total								11,872,398
Biotechnology 1.28%
Amgen, Inc.		4.05%		8/18/2029		12,566,000		11,979,758
Amgen, Inc.		4.875%		3/1/2053		12,000,000		10,859,566
Amgen, Inc.		5.25%		3/2/2033		14,960,000		15,019,301
Total								37,858,625
Chemicals 1.16%
Celanese U.S. Holdings LLC		5.90%		7/5/2024		13,000,000		12,988,641
International Flavors & Fragrances, Inc.†		1.23%		10/1/2025		14,846,000		13,248,365
International Flavors & Fragrances, Inc.†		2.30%		11/1/2030		9,975,000		7,927,858
Total								34,164,864
Commercial Services 0.59%
Global Payments, Inc.		5.30%		8/15/2029		16,461,000		16,201,263
Sabre Global, Inc.†		7.375%		9/1/2025		1,294,000		1,095,489
Total								17,296,752

154 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Computers 0.97%
Booz Allen Hamilton, Inc.†	3.875%		9/1/2028	$	11,969,000	$	10,743,853
Leidos Holdings, Inc.	5.95%		12/1/2040		1,325,000		1,262,833
Leidos, Inc.	4.375%		5/15/2030		6,375,000		5,827,791
Leidos, Inc.	5.75%		3/15/2033		3,746,000		3,722,179
Leidos, Inc.	7.125%		7/1/2032		6,806,000		7,231,715
Total							28,788,371
Cosmetics/Personal Care 0.48%
Haleon U.S. Capital LLC	3.625%		3/24/2032		15,826,000		14,214,264
Diversified Financial Services 4.48%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust Series 3NC1 (Ireland)(b)	1.75%		10/29/2024		8,000,000		7,511,327
Aircastle Ltd.†	2.85%		1/26/2028		11,435,000		9,786,963
American Express Co.	4.42% (SOFR + 1.76%	)#	8/3/2033		8,831,000		8,355,189
American Express Co.	4.989% (SOFR + 2.26%	)#	5/26/2033		13,975,000		13,549,561
American Express Co.	5.043%	#	5/1/2034		14,965,000		14,782,341
Aviation Capital Group LLC†	3.50%		11/1/2027		3,918,000		3,500,478
Avolon Holdings Funding Ltd. (Ireland)†(b)	3.95%		7/1/2024		10,118,000		9,790,036
Avolon Holdings Funding Ltd. (Ireland)†(b)	4.25%		4/15/2026		16,000,000		14,823,041
Avolon Holdings Funding Ltd. (Ireland)†(b)	6.375%		5/4/2028		8,400,000		8,214,168
Capital One Financial Corp.	1.343% (SOFR + 0.69%	)#	12/6/2024		7,151,000		6,934,515
Intercontinental Exchange, Inc.	4.35%		6/15/2029		9,991,000		9,848,498
LPL Holdings, Inc.†	4.375%		5/15/2031		13,587,000		11,825,891
Navient Corp.	6.75%		6/25/2025		5,550,000		5,376,226
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.50%		3/15/2027		5,294,000		5,045,865
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.875%		4/15/2045		3,685,000		2,982,446
Total							132,326,545
Electric 11.25%
AEP Texas, Inc.	5.40%		6/1/2033		3,546,000		3,554,400
AEP Transmission Co. LLC	5.40%		3/15/2053		9,974,000		10,155,821
AES Corp.	2.45%		1/15/2031		7,975,000		6,391,497
Atlantica Sustainable Infrastructure PLC (United Kingdom)†(b)	4.125%		6/15/2028		9,797,000		8,774,004
Baltimore Gas & Electric Co.	4.55%		6/1/2052		4,563,000		4,057,368

See Notes to Financial Statements. 155

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Electric (continued)
Comision Federal de Electricidad (Mexico)†(b)	4.688%		5/15/2029	$	20,000,000	$	17,926,321
Constellation Energy Generation LLC	5.80%		3/1/2033		9,781,000		10,060,351
Constellation Energy Generation LLC	6.25%		10/1/2039		5,185,000		5,387,889
DTE Energy Co.	2.95%		3/1/2030		13,166,000		11,511,762
DTE Energy Co.	3.40%		6/15/2029		4,398,000		3,997,275
Duke Energy Corp.	4.50%		8/15/2032		14,776,000		13,976,036
Duquesne Light Holdings, Inc.†	2.775%		1/7/2032		14,523,000		11,437,072
Electricite de France SA (France)†(b)	6.25%		5/23/2033		24,011,000		24,341,758
Evergy Metro, Inc.	4.95%		4/15/2033		7,125,000		7,027,830
FirstEnergy Transmission LLC†	4.55%		4/1/2049		6,480,000		5,327,808
IPALCO Enterprises, Inc.	4.25%		5/1/2030		12,206,000		11,067,640
ITC Holdings Corp.(c)	5.40%		6/1/2033		9,976,000		9,992,170
Liberty Utilities Finance GP 1†	2.05%		9/15/2030		11,045,000		8,594,780
Louisville Gas & Electric Co.	5.45%		4/15/2033		9,974,000		10,198,883
Minejesa Capital BV (Netherlands)†(b)	4.625%		8/10/2030		12,000,000		10,779,947
NRG Energy, Inc.†	4.45%		6/15/2029		14,584,000		13,046,894
Oglethorpe Power Corp.	5.95%		11/1/2039		9,881,000		9,794,680
Oklahoma Gas & Electric Co.	5.40%		1/15/2033		7,050,000		7,216,539
Oklahoma Gas & Electric Co.	5.60%		4/1/2053		9,977,000		10,025,461
Pacific Gas & Electric Co.	4.55%		7/1/2030		21,283,000		19,410,658
Pacific Gas & Electric Co.	6.15%		1/15/2033		6,649,000		6,566,368
Pacific Gas & Electric Co.	6.70%		4/1/2053		4,325,000		4,223,604
Public Service Co. of Colorado	5.25%		4/1/2053		9,977,000		9,878,313
Puget Energy, Inc.	4.10%		6/15/2030		21,009,000		19,382,262
Southern Co.	4.475%	(d)	8/1/2024		11,126,000		10,965,314
Virginia Electric & Power Co.	5.45%		4/1/2053		9,976,000		9,798,593
Vistra Operations Co. LLC†	3.55%		7/15/2024		18,009,000		17,434,317
Total							332,303,615
Electronics 0.25%
Trimble, Inc.	6.10%		3/15/2033		7,304,000		7,400,977
Energy-Alternate Sources 0.11%
Topaz Solar Farms LLC†	5.75%		9/30/2039		3,154,963		3,119,391
Engineering & Construction 0.91%
Cellnex Finance Co. SA (Spain)†(b)	3.875%		7/7/2041		8,563,000		6,298,583
Jacobs Engineering Group, Inc.	5.90%		3/1/2033		10,855,000		10,768,349
Sitios Latinoamerica SAB de CV (Mexico)†(b)	5.375%		4/4/2032		11,000,000		9,874,136
Total							26,941,068

156 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Food 0.69%
Kellogg Co.	5.25%		3/1/2033	$	17,955,000	$	18,205,222
McCormick & Co., Inc.	4.95%		4/15/2033		2,073,000		2,030,278
Total							20,235,500
Gas 1.28%
CenterPoint Energy Resources Corp.	5.40%		3/1/2033		7,159,000		7,287,484
Southwest Gas Corp.	4.05%		3/15/2032		23,500,000		21,203,796
Spire Missouri, Inc.	4.80%		2/15/2033		9,250,000		9,183,744
Total							37,675,024
Hand/Machine Tools 0.89%
Regal Rexnord Corp.†	6.05%		4/15/2028		8,000,000		7,913,221
Regal Rexnord Corp.†	6.30%		2/15/2030		18,450,000		18,423,986
Total							26,337,207
Health Care-Products 1.08%
Alcon Finance Corp.†	5.375%		12/6/2032		10,000,000		10,170,471
GE HealthCare Technologies, Inc.†	5.65%		11/15/2027		21,200,000		21,640,653
Total							31,811,124
Health Care-Services 4.31%
Catalent Pharma Solutions, Inc.†	3.125%		2/15/2029		10,000,000		8,149,900
Centene Corp.	3.375%		2/15/2030		31,200,000		26,929,968
Elevance Health, Inc.	2.25%		5/15/2030		12,000,000		10,141,642
Elevance Health, Inc.	4.10%		5/15/2032		9,977,000		9,389,437
Elevance Health, Inc.	5.125%		2/15/2053		3,581,000		3,435,981
Elevance Health, Inc.	5.50%		10/15/2032		3,636,000		3,760,781
Fresenius Medical Care U.S. Finance III, Inc.†	3.00%		12/1/2031		8,000,000		6,314,013
HCA, Inc.	5.50%		6/1/2033		10,476,000		10,461,041
Humana, Inc.	3.70%		3/23/2029		21,804,000		20,229,661
Humana, Inc.	5.875%		3/1/2033		11,457,000		12,039,976
IQVIA, Inc.†	5.70%		5/15/2028		10,000,000		10,062,500
Molina Healthcare, Inc.†	4.375%		6/15/2028		7,000,000		6,430,768
Total							127,345,668
Insurance 2.44%
Aon Corp.	8.205%		1/1/2027		5,545,000		5,665,077
Assurant, Inc.	2.65%		1/15/2032		3,049,000		2,316,490
Assurant, Inc.	3.70%		2/22/2030		9,896,000		8,599,237
Brown & Brown, Inc.	4.20%		3/17/2032		11,975,000		10,855,825
F&G Annuities & Life, Inc.†	7.40%		1/13/2028		12,525,000		12,589,027
Global Atlantic Fin Co.†	4.70% (5 yr. CMT + 3.80%	)#	10/15/2051		5,469,000		4,256,495

See Notes to Financial Statements. 157

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Insurance (continued)
Intact Financial Corp. (Canada)†(b)	5.459%	9/22/2032	$	6,983,000	$	7,010,950
New York Life Global Funding†	4.55%	1/28/2033		10,302,000		10,044,067
Protective Life Corp.	8.45%	10/15/2039		5,103,000		6,053,272
Selective Insurance Group, Inc.	5.375%	3/1/2049		5,081,000		4,674,536
Total						72,064,976
Internet 1.52%
Amazon.com, Inc.	4.70%	12/1/2032		16,300,000		16,536,743
Netflix, Inc.†	5.375%	11/15/2029		28,000,000		28,221,676
Total						44,758,419
Lodging 0.27%
Hyatt Hotels Corp.	1.30%	10/1/2023		8,000,000		7,878,768
Machinery-Diversified 0.78%
Flowserve Corp.	2.80%	1/15/2032		8,450,000		6,761,543
nVent Finance Sarl (Luxembourg)(b)	4.55%	4/15/2028		13,500,000		12,754,986
SPX FLOW, Inc.†	8.75%	4/1/2030		3,938,000		3,392,784
Total						22,909,313
Media 0.28%
FactSet Research Systems, Inc.	3.45%	3/1/2032		9,551,000		8,212,046
Oil & Gas 10.65%
Aethon United BR LP/Aethon United Finance Corp.†	8.25%	2/15/2026		10,000,000		9,689,275
Antero Resources Corp.†	5.375%	3/1/2030		16,000,000		14,726,083
Baytex Energy Corp. (Canada)†(b)	8.50%	4/30/2030		5,714,000		5,591,471
Baytex Energy Corp. (Canada)†(b)	8.75%	4/1/2027		5,000,000		5,057,885
Berry Petroleum Co. LLC†	7.00%	2/15/2026		7,760,000		7,134,839
California Resources Corp.†	7.125%	2/1/2026		9,233,000		9,379,805
Callon Petroleum Co.†	8.00%	8/1/2028		10,000,000		9,790,521
Comstock Resources, Inc.†	5.875%	1/15/2030		6,000,000		5,010,019
Continental Resources, Inc.†	5.75%	1/15/2031		30,100,000		28,697,994
Crescent Energy Finance LLC†	7.25%	5/1/2026		12,000,000		11,173,295
Crescent Energy Finance LLC†	9.25%	2/15/2028		5,000,000		4,846,075
Diamondback Energy, Inc.	3.125%	3/24/2031		10,000,000		8,530,078
Diamondback Energy, Inc.	3.50%	12/1/2029		5,488,000		4,961,910
Diamondback Energy, Inc.	6.25%	3/15/2033		6,975,000		7,246,138
Earthstone Energy Holdings LLC†	8.00%	4/15/2027		11,650,000		11,351,352
Encino Acquisition Partners Holdings LLC†	8.50%	5/1/2028		4,587,000		4,219,077
Eni SpA (Italy)†(b)	5.70%	10/1/2040		11,398,000		10,277,025
EQT Corp.	7.00%	2/1/2030		16,202,000		16,786,082
Gulfport Energy Corp.†	8.00%	5/17/2026		2,864,000		2,859,890

158 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
Oil & Gas (continued)
Hilcorp Energy I LP/Hilcorp Finance Co.†	6.25%		11/1/2028		$	7,000,000	$	6,549,677
Matador Resources Co.	6.875%		4/15/2028			4,167,000		4,137,606
Nabors Industries Ltd.†	7.25%		1/15/2026			7,000,000		6,384,210
Occidental Petroleum Corp.	6.375%		9/1/2028			9,975,000		10,273,552
Occidental Petroleum Corp.	6.45%		9/15/2036			7,000,000		7,129,640
Occidental Petroleum Corp.	6.625%		9/1/2030			6,500,000		6,782,165
Occidental Petroleum Corp.	8.875%		7/15/2030			2,400,000		2,767,932
OGX Austria GmbH (Brazil)†(b)(e)	8.50%		6/1/2018			1,800,000		36
Ovintiv, Inc.	6.25%		7/15/2033			14,965,000		14,844,187
Ovintiv, Inc.	6.50%		2/1/2038			7,362,000		7,299,722
Ovintiv, Inc.	6.625%		8/15/2037			4,595,000		4,581,573
Patterson-UTI Energy, Inc.	5.15%		11/15/2029			16,177,000		14,241,179
Permian Resources Operating LLC†	6.875%		4/1/2027			9,250,000		9,009,685
Precision Drilling Corp. (Canada)†(b)	6.875%		1/15/2029			3,250,000		2,913,928
Rockcliff Energy II LLC†	5.50%		10/15/2029			5,000,000		4,600,100
SM Energy Co.	6.50%		7/15/2028			8,000,000		7,510,560
Tap Rock Resources LLC†	7.00%		10/1/2026			8,500,000		7,974,058
Vermilion Energy, Inc. (Canada)†(b)	6.875%		5/1/2030			10,000,000		9,111,250
Vital Energy, Inc.†	7.75%		7/31/2029			2,750,000		2,303,950
Vital Energy, Inc.	10.125%		1/15/2028			9,000,000		8,739,442
Total								314,483,266
Oil & Gas Services 0.17%
NOV, Inc.	3.60%		12/1/2029			5,632,000		5,046,368
Packaging & Containers 0.24%
General Electric Co.	8.196% (3 mo. USD LIBOR + 3.33%	)#	–	(f)		7,150,000		7,144,637
Pharmaceuticals 3.46%
AbbVie, Inc.	3.20%		11/21/2029			12,050,000		10,942,491
Bayer Corp.†	6.65%		2/15/2028			13,749,000		14,567,194
Bayer U.S. Finance II LLC†	4.375%		12/15/2028			7,450,000		7,174,067
Cigna Group	2.40%		3/15/2030			6,767,000		5,766,479
CVS Health Corp.	3.25%		8/15/2029			6,000,000		5,428,987
CVS Health Corp.	4.78%		3/25/2038			10,981,000		10,163,464
CVS Health Corp.	5.05%		3/25/2048			11,973,000		10,824,576
CVS Health Corp.(c)	5.25%		1/30/2031			9,977,000		10,024,076
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)	4.75%		5/19/2033			12,487,000		12,543,029
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)	5.34%		5/19/2063			14,720,000		14,751,580
Total								102,185,943

See Notes to Financial Statements. 159

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Pipelines 1.53%
Eastern Gas Transmission & Storage, Inc.	3.00%	11/15/2029	$	7,375,000	$	6,556,430
Eastern Gas Transmission & Storage, Inc.	4.60%	12/15/2044		5,529,000		4,674,403
EIG Pearl Holdings Sarl (Luxembourg)(b)	3.545%	8/31/2036		10,000,000		8,525,760
NGPL PipeCo LLC†	4.875%	8/15/2027		20,258,000		19,393,126
Venture Global LNG, Inc.†	8.375%	6/1/2031		5,882,000		5,918,645
Total						45,068,364
REITS 2.99%
American Tower Corp.	3.80%	8/15/2029		19,950,000		18,415,606
American Tower Corp.	5.55%	7/15/2033		3,559,000		3,583,905
Crown Castle, Inc.	3.30%	7/1/2030		25,500,000		22,542,680
EPR Properties	3.75%	8/15/2029		5,000,000		3,970,797
EPR Properties	4.95%	4/15/2028		10,000,000		8,673,021
GLP Capital LP/GLP Financing II, Inc.	5.75%	6/1/2028		7,325,000		7,082,614
VICI Properties LP/VICI Note Co., Inc.†	4.625%	6/15/2025		25,000,000		24,151,585
Total						88,420,208
Retail 0.64%
Lowe’s Cos., Inc.	5.00%	4/15/2033		19,000,000		18,831,384
Semiconductors 0.64%
Broadcom, Inc.†	4.15%	4/15/2032		21,000,000		18,914,180
Software 2.75%
MSCI, Inc.†	3.625%	11/1/2031		11,306,000		9,451,579
Oracle Corp.	5.375%	7/15/2040		15,452,000		14,742,255
Oracle Corp.	6.125%	7/8/2039		12,298,000		12,630,525
Oracle Corp.	6.25%	11/9/2032		10,650,000		11,269,237
ServiceNow, Inc.	1.40%	9/1/2030		17,120,000		13,630,386
Workday, Inc.	3.80%	4/1/2032		21,630,000		19,513,787
Total						81,237,769
Telecommunications 2.93%
AT&T, Inc.	3.50%	9/15/2053		34,000,000		23,623,309
AT&T, Inc.	4.30%	2/15/2030		10,000,000		9,575,711
Sprint Capital Corp.	6.875%	11/15/2028		39,425,000		42,183,409
T-Mobile USA, Inc.	3.875%	4/15/2030		11,925,000		11,068,016
Total						86,450,445
Trucking & Leasing 0.17%
SMBC Aviation Capital Finance DAC (Ireland)†(b)	5.45%	5/3/2028		5,000,000		4,985,787
Total Corporate Bonds (cost $2,576,923,292)						2,438,829,251

160 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
FLOATING RATE LOANS(g) 2.15%
Entertainment 0.46%
Stars Group Holdings BV 2018 USD Incremental Term Loan (Netherlands)(b)		7.409% (3 mo. USD LIBOR + 2.25%	)	7/21/2026	$	13,718,261	$	13,681,633
Financial 0.03%
LPL Holdings, Inc. 2019 Term Loan B1		6.843%		11/12/2026		848,357		841,638
Health Services 0.08%
Catalent Pharma Solutions, Inc. 2021 Term Loan B3		7.188% (1 mo. USD LIBOR + 2.00%	)	2/22/2028		2,476,817		2,398,376
Lodging 0.49%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%		)	6/22/2026		13,365,000		13,311,941
Resorts World Las Vegas LLC Term Loan A		6.66%		4/16/2024		1,087,500		1,084,781
Total								14,396,722
Media 0.37%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% - 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%		) )	4/30/2025		10,797,446		10,788,268
Pharmaceuticals 0.34%
Horizon Therapeutics USA, Inc. 2021 Term Loan B2		6.938% (1 mo. USD LIBOR + 1.75%	)	3/15/2028		9,964,467		9,944,389
Real Estate Investment Trusts 0.13%
Invitation Homes Operating Partnership LP 2020 Term Loan A	6.253% (1 mo. USD Term SOFR + 1.00%		)	1/31/2025		3,911,798		3,843,342
Shipbuilding 0.12%
MHI Holdings LLC Term Loan B		10.154%		9/21/2026		3,698,221		3,698,221
Software 0.13%
Project Alpha Intermediate Holding, Inc. 2021 Term Loan B		9.16%		4/26/2024		3,989,796		3,976,091
Total Floating Rate Loans (cost $63,939,832)								63,568,680

See Notes to Financial Statements. 161

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date		Principal Amount		Fair Value
FOREIGN GOVERNMENT OBLIGATIONS(b) 0.04%
Sri Lanka
Sri Lanka Government International Bonds†(e) (cost $2,663,102)		5.875%		7/25/2022		$	2,840,000	$	1,150,182
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.00%
Government National Mortgage Association Series 2013-48 Class IO (Cost $223,583)		0.381%	#(h)	7/16/2054			5,015,230		52,439
MUNICIPAL BONDS 1.17%
Government 0.64%
State of Illinois GO		5.10%		6/1/2033			19,025,000		18,827,437
Natural Gas 0.53%
Texas Natural Gas Securitization Finance Corp.		5.169%		4/1/2041			14,965,000		15,737,760
Total Municipal Bonds (cost $34,289,234)									34,565,197
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 1.19%
BBCMS Mortgage Trust Series 2019-BWAY Class C†		6.784% (1 mo. USD Term SOFR + 1.72%	)#	11/15/2034			3,950,000		3,053,440
BX Commercial Mortgage Trust Series 2019-IMC Class E†		7.257% (1 mo. USD LIBOR + 2.15%	)#	4/15/2034			4,000,000		3,873,298
Commercial Mortgage Pass-Through Certificates Series 2015-PC1 Class C		4.293%	#(h)	7/10/2050			3,017,634		2,634,330
CS Master Trust Series 2021-AHP Class A†	9.115% (1 mo. USD Term SOFR + 4.06%		)#	4/15/2025			4,200,000		4,191,734
CS Master Trust Series 2021-BLUF Class A†		9.276% (1 mo. USD LIBOR + 4.18%	)#	4/15/2023	(i)		2,400,000		2,290,241	(j)
Great Wolf Trust Series 2019-WOLF Class A†		6.208% (1 mo. USD Term SOFR + 1.15%	)#	12/15/2036			8,100,000		7,997,015
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class G†		9.758% (1 mo. USD LIBOR + 4.65%	)#	5/15/2026			5,160,000		4,066,379
GS Mortgage Securities Trust Series 2013-GC12 Class XB		0.569%	#(h)	6/10/2046			47,400,000		71
GS Mortgage Securities Trust Series 2015-GS1 Class XB		0.179%	#(h)	11/10/2048			30,000,000		159,661
HPLY Trust Series 2019-HIT Class A†		6.107% (1 mo. USD LIBOR + 1.00%	)#	11/15/2036			2,871,310		2,836,930
Hudsons Bay Simon JV Trust Series 2015-HB10 Class XB10†		0.541%	#(h)	8/5/2034			16,028,000		1,913

162 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Hudsons Bay Simon JV Trust Series 2015-HB7 Class XB7†	0.493%	#(h)	8/5/2034	$	18,308,000	$	2,156
JP Morgan Chase Commercial Mortgage Securities Trust Series 2015-C30 Class C	4.227%	#(h)	7/15/2048		1,674,000		1,438,442
Wells Fargo Commercial Mortgage Trust Series 2013-LC12 Class D†	4.254%	#(h)	7/15/2046		2,255,889		779,090	(j)
Wells Fargo Commercial Mortgage Trust Series 2017-C41 Class AS	3.785%	#(h)	11/15/2050		2,089,000		1,907,155
Total Non-Agency Commercial Mortgage-Backed Securities (cost $39,136,030)							35,231,855
U.S. TREASURY OBLIGATIONS 3.01%
U.S. Treasury Bonds	3.625%		5/15/2053		56,284,000		54,168,953
U.S. Treasury Inflation-Indexed Notes(k)	0.25%		1/15/2025		36,054,055		34,732,931
Total U.S. Treasury Obligations (cost $88,925,955)							88,901,884
Total Long-Term Investments (cost $2,993,852,266)							2,837,910,304
SHORT-TERM INVESTMENTS 3.01%
COMMERCIAL PAPER 1.41%
Auto Manufacturers 0.78%
General Motors Financial Co., Inc.	5.476%		6/1/2023		23,134,000		23,134,000
Finance 0.63%
Brookfield Infrastructure Holdings Canada, Inc.	5.882%		6/1/2023		18,428,000		18,428,000
Total Commercial Paper (cost $41,562,000)							41,562,000
REPURCHASE AGREEMENTS 1.60%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $11,538,700 of U.S. Treasury Note at 2.500% due 2/28/2026; $7,622,900 of U.S. Treasury Note at 4.50% due 12/31/2024; value: $18,678,971; proceeds: $18,313,957 (cost $18,312,634)					18,312,634		18,312,634
Repurchase Agreement dated 5/31/2023, 5.100% due 6/1/2023 with TD Securities USA LLC collateralized by $30,203,000 of U.S. Treasury Bond at 3.875% due 5/15/2043; value: $29,607,558; proceeds: $29,003,164 (cost $28,999,056)					28,999,056		28,999,056
Total Repurchase Agreements (cost $47,311,690)							47,311,690
Total Short-Term Investments (cost $88,873,690)							88,873,690
Total Investments in Securities 99.13% (cost $3,082,725,956)							2,926,783,994
Other Assets and Liabilities – Net(l) 0.87%							25,625,547
Net Assets 100.00%						$	2,952,409,541

See Notes to Financial Statements. 163

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

CAD	Canadian Dollar.
CMT	Constant Maturity Rate.
IO	Interest Only.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $1,049,221,122, which represents 35.54% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Investment in non-U.S. dollar denominated securities.
(b)	Foreign security traded in U.S. dollars.
(c)	Securities purchased on a when-issued basis (See Note 2(j)).
(d)	Step Bond – Security with a predetermined schedule of interest rate changes.
(e)	Defaulted (non-income producing security).
(f)	Security is perpetual in nature and has no stated maturity.
(g)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(h)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(i)	Maturity date has passed. As of May 31, 2023, an extension is available to June 15, 2024.
(j)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
(k)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(l)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

Centrally Cleared Interest Rate Swap Contracts at May 31, 2023:

Central Clearingparty	Periodic Payments to be Made By The Fund (Quarterly)	Periodic Payments to be Received By The Fund (Quarterly)	Termination Date	Notional Amount	Value/Unrealized Depreciation
Goldman Sachs(1)	2.564%	CPI Urban Consumer NSA	2/10/2028	$28,838,000		$	(187,275	)
Goldman Sachs(1)	2.508%	CPI Urban Consumer NSA	3/24/2028	15,000,000			(84,086	)
Goldman Sachs(1)	2.508%	CPI Urban Consumer NSA	3/24/2028	15,000,000			(65,773	)
Unrealized Depreciation on Centrally Cleared Interest Rate Swap Contracts						$	(337,134	)

⁽¹⁾ Central clearinghouse: Chicago Mercantile Exchange (CME).

164 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INCOME FUND May 31, 2023

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Appreciation
Canadian dollar	Sell	State Street Bank and Trust	7/20/2023	14,843,000	$11,047,516	$10,946,572	$100,944

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 10-Year Treasury Note	September 2023	131	Long	$	14,951,938		$	14,995,406			$	43,468
U.S. 2-Year Treasury Note	September 2023	3,163	Long		650,848,578			651,034,363				185,785
U.S. 5-Year Treasury Note	September 2023	524	Short		(57,193,639	)		(57,156,938	)			36,701
U.S. Long Bond	September 2023	1,179	Long		149,934,527			151,317,281				1,382,754
U.S. Ultra Treasury Bond	September 2023	2,133	Long		287,686,353			291,954,375				4,268,022
US 10-Year Ultra Treasury Note	June 2023	1,930	Long		229,146,095			230,423,906				1,277,811
Total Unrealized Appreciation on Futures Contracts											$	7,194,541

Type	Expiration	Contracts	Position		Notional Amount			Notional Value		Unrealized Depreciation
U.S. 10-Year Ultra Long Bond	June 2023	1,920	Short	$	(227,955,108	)	$	(229,230,000	)		$	(1,274,892	)
U.S. 10-Year Ultra Treasury Bond	September 2023	3,838	Short		(459,859,974	)		(462,299,093	)			(2,439,119	)
Total Unrealized Depreciation on Futures Contracts											$	(3,714,011	)

See Notes to Financial Statements. 165

Schedule of Investments (unaudited)(concluded)

INCOME FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities	$	–		$	175,610,816		$	–	$	175,610,816
Corporate Bonds		–			2,438,829,251			–		2,438,829,251
Floating Rate Loans		–			63,568,680			–		63,568,680
Foreign Government Obligations		–			1,150,182			–		1,150,182
Government Sponsored Enterprises Collateralized Mortgage Obligations		–			52,439			–		52,439
Municipal Bonds		–			34,565,197			–		34,565,197
Non-Agency Commercial Mortgage-Backed Securities		–			32,162,524			3,069,331		35,231,855
U.S. Treasury Obligations		–			88,901,884			–		88,901,884
Short-Term Investments
Commercial Paper		–			41,562,000			–		41,562,000
Repurchase Agreements		–			47,311,690			–		47,311,690
Total	$	–		$	2,923,714,663		$	3,069,331	$	2,926,783,994
Other Financial Instruments
Centrally Cleared Interest Rate Swap Contracts
Assets	$	–		$	–		$	–	$	–
Liabilities		–			(337,134	)		–		(337,134	)
Forward Foreign Currency Exchange Contracts
Assets		–			100,944			–		100,944
Liabilities		–			–			–		–
Futures Contracts
Assets		7,194,541			–			–		7,194,541
Liabilities		(3,714,011	)		–			–		(3,714,011	)
Total	$	3,480,530		$	(236,190	)	$	–	$	3,244,340

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

166 See Notes to Financial Statements.

Schedule of Investments (unaudited)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 92.23%
ASSET-BACKED SECURITIES 24.97%
Automobiles 5.98%
Avis Budget Rental Car Funding AESOP LLC Series 2019-2A Class A†	3.35%	9/22/2025	$	8,464,000	$	8,220,498
Avis Budget Rental Car Funding AESOP LLC Series 2020-1A Class D†	3.34%	8/20/2026		5,000,000		4,439,888
Capital One Prime Auto Receivables Trust Series 2022-2 Class A2A	3.74%	9/15/2025		6,226,580		6,157,467
CarMax Auto Owner Trust Series 2020-2 Class A3	1.70%	11/15/2024		3,594		3,589
Carvana Auto Receivables Trust Series 2021-N1 Class A	0.70%	1/10/2028		225,564		212,583
Carvana Auto Receivables Trust Series 2021-N2 Class A1	0.32%	3/10/2028		274,698		272,790
Carvana Auto Receivables Trust Series 2022-P1 Class A3	3.35%	2/10/2027		8,885,000		8,577,065
CPS Auto Receivables Trust Series 2019-C Class D†	3.17%	6/16/2025		17,122		17,103
Credit Acceptance Auto Loan Trust Series 2021-3A Class A†	1.00%	5/15/2030		1,325,000		1,289,380
Donlen Fleet Lease Funding 2 LLC Series 2021-2 Class A2†	0.56%	12/11/2034		2,393,324		2,326,949
Drive Auto Receivables Trust Series 2019-2 Class D	3.69%	8/17/2026		306,435		305,925
Drive Auto Receivables Trust Series 2019-4 Class D	2.70%	2/16/2027		623,284		615,418
Drive Auto Receivables Trust Series 2021-1 Class C	1.02%	6/15/2027		535,237		526,727
Exeter Automobile Receivables Trust Series 2020-2A Class E†	7.19%	9/15/2027		15,258,000		15,393,531
Exeter Automobile Receivables Trust Series 2021-2A Class C	0.98%	6/15/2026		875,217		854,306
Ford Credit Auto Owner Trust Series 2020-C Class A3	0.41%	7/15/2025		425,174		414,918
Ford Credit Auto Owner Trust Series 2022-1 Class A†	3.88%	11/15/2034		8,255,000		7,968,916
Ford Credit Auto Owner Trust Series REV1 2018-1 Class A†	3.19%	7/15/2031		4,225,000		4,074,604
Ford Credit Auto Owner Trust Series REV2 2019-1 Class A†	3.52%	7/15/2030		1,143,000		1,125,596
GM Financial Automobile Leasing Trust Series 2022-2 Class A3	3.42%	6/20/2025		8,300,000		8,139,015
Hertz Vehicle Financing LLC Series 2021-1A Class A†	1.21%	12/26/2025		3,385,000		3,160,949
Hertz Vehicle Financing LLC Series 2021-1A Class D†	3.98%	12/26/2025		5,000,000		4,675,047
OneMain Direct Auto Receivables Trust Series 2019-1 Class A†	3.63%	9/14/2027		10,899,000		10,529,356

See Notes to Financial Statements. 167

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
OneMain Direct Auto Receivables Trust Series 2021-1A Class A†	0.87%		7/14/2028	$	5,545,000	$	5,213,201
Santander Drive Auto Receivables Trust Series 2021-1 Class C	0.75%		2/17/2026		298,794		296,004
Santander Drive Auto Receivables Trust Series 2022-5 Class A2	3.98%		1/15/2025		3,149,271		3,144,371
Santander Retail Auto Lease Trust Series 2021-A Class A3†	0.51%		7/22/2024		1,834,483		1,807,742
Westlake Automobile Receivables Trust Series 2021-2A Class A2A†	0.32%		4/15/2025		275,863		275,011
Westlake Automobile Receivables Trust Series 2021-2A Class C†	0.89%		7/15/2026		1,865,000		1,778,065
World Omni Select Auto Trust Series 2019-A Class C	2.38%		12/15/2025		212,338		210,263
World Omni Select Auto Trust Series 2019-A Class D	2.59%		12/15/2025		572,000		562,178
Total							102,588,455
Credit Card 1.89%
American Express Credit Account Master Trust Series 2022-2 Class A	3.39%		5/15/2027		9,399,000		9,141,908
BA Credit Card Trust Series 2022-A2 Class A2	5.00%		4/15/2028		2,415,000		2,428,957
Capital One Multi-Asset Execution Trust Series 2022-A2 Class A	3.49%		5/15/2027		14,055,000		13,687,342
Discover Card Execution Note Trust Series 2022-A3 Class A3	3.56%		7/15/2027		7,355,000		7,164,982
Total							32,423,189
Other 16.14%
ACAM Ltd. Series 2019-FL1 Class A†	6.261% (1 mo. USD LIBOR + 1.15%	)#	10/16/2036		5,273,000		5,186,010
ACRES Commercial Realty Ltd. Series 2021-FL2 Class A†	6.508% (1 mo. USD LIBOR + 1.40%	)#	1/15/2037		3,290,000		3,195,482
Affirm Asset Securitization Trust Series 2021-B Class A†	1.03%		8/17/2026		3,550,000		3,429,766
Affirm Asset Securitization Trust Series 2022-X1 Class A†	1.75%		2/15/2027		3,707,346		3,609,981
AMMC CLO Ltd. Series 2020-23A Class A1R†	6.30% (3 mo. USD LIBOR + 1.04%	)#	10/17/2031		15,000,000		14,813,886
Anchorage Capital CLO 3-R Ltd. Series 2014-3RA Class A†	6.323% (3 mo. USD LIBOR + 1.05%	)#	1/28/2031		916,809		905,348

168 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Anchorage Capital CLO 4-R Ltd. Series 2014-4RA Class A†	6.323% (3 mo. USD LIBOR + 1.05%	)#	1/28/2031	$	1,146,639	$	1,140,005
Apidos Clo Xxv Series 2016-25A Class A1R†	6.42% (3 mo. USD LIBOR + 1.17%	)#	10/20/2031		6,970,000		6,889,845
Apidos CLO XXXI Series 2019-31A Class A1R†	6.36% (3 mo. USD LIBOR + 1.10%	)#	4/15/2031		5,000,000		4,923,005
Aqua Finance Trust Series 2021-A Class A†	1.54%		7/17/2046		3,101,915		2,763,996
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class A†	6.207% (1 mo. USD LIBOR + 1.10%	)#	5/15/2036		1,980,000		1,936,212
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL3 Class A†	6.177% (1 mo. USD LIBOR + 1.07%	)#	8/15/2034		4,960,000		4,805,426
Atalaya Equipment Leasing Trust Series 2021-1A Class A2†	1.23%		5/15/2026		3,208,756		3,134,702
Bain Capital Credit CLO Ltd. Series 2017-1A Class A1R†	6.22% (3 mo. USD LIBOR + 0.97%	)#	7/20/2030		5,247,011		5,192,391
BDS LLC Series 2022-FL11 Class ATS†	6.873% (1 mo. USD Term SOFR + 1.80%	)#	3/19/2039		6,160,000		6,079,227
Benefit Street Partners CLO III Ltd. Series 2013-IIIA Class A1R2†	6.25% (3 mo. USD LIBOR + 1.00%	)#	7/20/2029		1,202,149		1,200,610
BlueMountain CLO Ltd. Series 2013-2A Class A1R†	6.453% (3 mo. USD LIBOR + 1.18%	)#	10/22/2030		1,049,047		1,043,313
BlueMountain Fuji U.S. CLO I Ltd. Series 2017-1A Class A1R†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2029		1,134,183		1,118,836
BSPRT Issuer Ltd. Series 2021-FL7 Class A†	6.427% (1 mo. USD LIBOR + 1.32%	)#	12/15/2038		7,600,000		7,409,857
Carlyle Global Market Strategies CLO Ltd. Series 2014-3RA Class A1A†	6.342% (3 mo. USD LIBOR + 1.05%	)#	7/27/2031		1,190,199		1,180,244
Carlyle Global Market Strategies CLO Ltd. Series 2015-1A Class AR3†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2031		2,062,968		2,038,204
Carlyle U.S. CLO Ltd. Series 2017-3A Class A1AR†	6.15% (3 mo. USD LIBOR + 0.90%	)#	7/20/2029		752,410		744,007
Cedar Funding V CLO Ltd. Series 2016-5A Class A1R†	6.36% (3 mo. USD LIBOR + 1.10%	)#	7/17/2031		3,400,000		3,369,035

See Notes to Financial Statements. 169

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Cedar Funding XI Clo Ltd. Series 2019-11A Class A1R†	6.513% (3 mo. USD LIBOR + 1.05%	)#	5/29/2032	$	3,220,000	$	3,180,186
Cedar Funding XIV CLO Ltd. Series 2021-14A Class A†	6.36% (3 mo. USD LIBOR + 1.10%	)#	7/15/2033		2,340,000		2,309,999
CF Hippolyta Issuer LLC Series 2021-1A Class B1†	1.98%		3/15/2061		4,617,993		3,947,115
CIFC Funding II Ltd. Series 2013-2A Class A1L2†	6.262% (3 mo. USD LIBOR + 1.00%	)#	10/18/2030		3,968,834		3,931,106
Dell Equipment Finance Trust Series 2021-2 Class A2†	0.33%		12/22/2026		126,913		126,545
Dryden Senior Loan Fund Series 2017-47A Class A1R†	6.24% (3 mo. USD LIBOR + 0.98%	)#	4/15/2028		4,947,599		4,897,847
Galaxy XIX CLO Ltd. Series 2015-19A Class A1RR†	6.223% (3 mo. USD LIBOR + 0.95%	)#	7/24/2030		916,640		905,189
Generate CLO 2 Ltd. Series 2A Class AR†	6.423% (3 mo. USD LIBOR + 1.15%	)#	1/22/2031		1,311,064		1,297,693
Greystone CRE Notes Ltd. Series 2021-FL3 Class A†	6.194% (1 mo. USD Term SOFR + 1.13%	)#	7/15/2039		6,150,000		5,982,336
Halcyon Loan Advisors Funding Ltd. Series 2015-2A Class BR†	6.905% (3 mo. USD LIBOR + 1.65%	)#	7/25/2027		31,605		31,675
HGI CRE CLO Ltd. Series 2021-FL2 Class A†	6.105% (1 mo. USD LIBOR + 1.00%	)#	9/17/2036		6,146,273		5,945,148
JFIN CLO Ltd. Series 2013-1A Class A2R†	7.45% (3 mo. USD LIBOR + 2.20%	)#	1/20/2030		690,295		682,963
KKR CLO Ltd. Series 24 Class A1R†	6.33% (3 mo. USD LIBOR + 1.08%	)#	4/20/2032		4,980,000		4,906,121
KKR CLO Ltd. Series 30A Class A1R†	6.28% (3 mo. USD LIBOR + 1.02%	)#	10/17/2031		10,000,000		9,871,110
KREF Ltd. Series 2021-FL2 Class A†	6.178% (1 mo. USD LIBOR + 1.07%	)#	2/15/2039		9,930,000		9,582,825
KREF Ltd. Series 2021-FL2 Class AS†	6.408% (1 mo. USD LIBOR + 1.30%	)#	2/15/2039		4,830,000		4,576,425
Lendmark Funding Trust Series 2021-1A Class A†	5.12%		7/20/2032		5,810,000		5,699,396
Lendmark Funding Trust Series 2021-1A Class B†	2.47%		11/20/2031		9,200,000		7,768,319
Lendmark Funding Trust Series 2021-2A Class A†	2.00%		4/20/2032		10,585,000		9,109,381
LFT CRE Ltd. Series 2021-FL1 Class A†	6.277% (1 mo. USD LIBOR + 1.17%	)#	6/15/2039		2,230,000		2,183,527
LFT CRE Ltd. Series 2021-FL1 Class B†	6.857% (1 mo. USD LIBOR + 1.75%	)#	6/15/2039		3,520,000		3,410,633	(a)

170 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Madison Park Funding XI Ltd. Series 2013-11A Class AR2†	6.173% (3 mo. USD LIBOR + 0.90%	)#	7/23/2029	$	2,806,845	$	2,776,809
Magnetite XXII Ltd. Series 2019-22A Class AR†	6.32% (3 mo. USD LIBOR + 1.06%	)#	4/15/2031		4,000,000		3,949,585
Magnetite Xxix Ltd. Series 2021-29A Class A†	6.25% (3 mo. USD LIBOR + 0.99%	)#	1/15/2034		1,110,000		1,094,485
Mariner Finance Issuance Trust Series 2021-BA Class A†	2.10%		11/20/2036		3,340,000		2,931,815
Marlette Funding Trust Series 2021-3A Class B†	1.30%		12/15/2031		5,555,000		5,357,273
MVW Owner Trust Series 2017-1A Class A†	2.42%		12/20/2034		40,122		39,721
New Economy Assets Phase 1 Sponsor LLC Series 2021-1 Class A1†	1.91%		10/20/2061		7,070,000		6,111,871
Newark BSL CLO 2 Ltd. Series 2017-1A Class A1R†	6.225% (3 mo. USD LIBOR + 0.97%	)#	7/25/2030		2,816,539		2,789,552
OCP CLO Ltd. Series 2019-17A Class A1R†	6.29% (3 mo. USD LIBOR + 1.04%	)#	7/20/2032		5,700,000		5,601,034
Octagon Investment Partners 32 Ltd. Series 2017-1A Class A1R†	6.21% (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		4,738,941		4,694,381
Octagon Investment Partners XIV Ltd. Series 2012-1A Class AARR†	6.21% (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		673,499		668,125
Octagon Investment Partners XXI Ltd. Series 2014-1A Class AAR3†	6.321% (3 mo. USD LIBOR + 1.00%	)#	2/14/2031		1,960,000		1,933,540
Octane Receivables Trust Series 2022-2A Class A†	5.11%		2/22/2028		2,877,780		2,845,112
OneMain Financial Issuance Trust Series 2018-2A Class A†	3.57%		3/14/2033		182,988		180,094
OneMain Financial Issuance Trust Series 2019-2A Class A†	3.14%		10/14/2036		4,282,000		3,928,251
OneMain Financial Issuance Trust Series 2021-3A Class A†	5.94%		5/15/2034		5,445,000		5,483,723
Orange Lake Timeshare Trust Series 2019-A Class A†	3.06%		4/9/2038		115,544		110,644
Pagaya AI Debt Trust Series 2022-1 Class A†	2.03%		10/15/2029		5,291,589		5,142,319
PFS Financing Corp. Series 2020-E Class A†	1.00%		10/15/2025		904,000		887,278
PFS Financing Corp. Series 2020-G Class A†	0.97%		2/15/2026		647,000		623,863
Romark CLO Ltd. Series 2017-1A Class A1R†	6.303% (3 mo. USD LIBOR + 1.03%	)#	10/23/2030		7,942,089		7,863,456
SCF Equipment Leasing LLC Series 2019-2A Class A2†	2.47%		4/20/2026		797,361		792,292

See Notes to Financial Statements. 171

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity  Date	Principal Amount		Fair Value
Other (continued)
SCF Equipment Leasing LLC Series 2019-2A Class B†	2.76%		8/20/2026	$	2,350,000	$	2,279,784
SCF Equipment Leasing LLC Series 2021-1A Class A3†	0.83%		8/21/2028		1,160,576		1,130,125
SCF Equipment Leasing LLC Series 2021-1A Class B†	1.37%		8/20/2029		1,130,000		1,043,831
SCF Equipment Leasing LLC Series 2022-1A Class A3†	2.92%		7/20/2029		7,240,000		6,906,915
Signal Peak CLO Ltd. Series 2020-8A Class A†	6.52% (3 mo. USD LIBOR + 1.27%	)#	4/20/2033		6,005,000		5,897,038
TCI-Flatiron CLO Ltd. Series 2017-1A Class AR†	6.29% (3 mo. USD LIBOR + 0.96%	)#	11/18/2030		3,421,914		3,391,116
TCI-Flatiron CLO Ltd. Series 2018-1A Class ANR†	6.359% (3 mo. USD LIBOR + 1.06%	)#	1/29/2032		500,000		492,872
TICP CLO IX Ltd. Series 2017-9A Class A†	6.39% (3 mo. USD LIBOR + 1.14%	)#	1/20/2031		963,080		955,144
Upstart Securitization Trust Series 2021-2 Class A†	0.91%		6/20/2031		90,409		89,948
Upstart Securitization Trust Series 2021-5 Class A†	1.31%		11/20/2031		2,036,397		1,986,026
Venture 33 CLO Ltd. Series 2018-33A Class A1LR†	6.32% (3 mo. USD LIBOR + 1.06%	)#	7/15/2031		3,500,000		3,454,833
Wind River CLO Ltd. Series 2013-1A Class A1RR†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2030		6,961,002		6,904,905
Total							276,792,687
Rec Vehicle Loan 0.26%
Octane Receivables Trust Series 2021-1A Class A†	0.93%		3/22/2027		303,806		294,603
Octane Receivables Trust Series 2022-1A Class A2†	4.18%		3/20/2028		4,296,556		4,219,374
Total							4,513,977
Student Loan 0.70%
Navient Private Education Refi Loan Trust Series 2020-FA Class A†	1.22%		7/15/2069		522,342		467,499
Navient Private Education Refi Loan Trust Series 2021-CA Class A†	1.06%		10/15/2069		3,124,106		2,724,677
Navient Private Education Refi Loan Trust Series 2022-A Class A†	2.23%		7/15/2070		6,153,106		5,412,433
Nelnet Student Loan Trust Series 2021-A Class APT1†	1.36%		4/20/2062		3,421,865		3,083,591
Towd Point Asset Trust Series 2018-SL1 Class A†	5.738% (1 mo. USD LIBOR + 0.60%	)#	1/25/2046		286,860		285,253
Total							11,973,453
Total Asset-Backed Securities (cost $444,286,460)							428,291,761

172 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Shares		Fair Value
COMMON STOCKS 0.00%
Oil, Gas & Consumable Fuels
Earthstone Energy, Inc. Class A* (cost $0)				9	$	108
			Principal Amount
CORPORATE BONDS 52.31%
Agriculture 1.54%
BAT Capital Corp.	3.222%	8/15/2024	$	5,957,000		5,783,493
Imperial Brands Finance PLC (United Kingdom)†(b)	3.125%	7/26/2024		1,871,000		1,806,735
Imperial Brands Finance PLC (United Kingdom)†(b)	6.125%	7/27/2027		4,954,000		5,042,812
Philip Morris International, Inc.	5.125%	11/17/2027		1,416,000		1,431,428
Reynolds American, Inc.	4.45%	6/12/2025		1,850,000		1,810,671
Viterra Finance BV (Netherlands)†(b)	2.00%	4/21/2026		7,352,000		6,542,043
Viterra Finance BV (Netherlands)†(b)	4.90%	4/21/2027		4,111,000		3,943,038
Total						26,360,220
Airlines 0.15%
Air Canada Pass-Through Trust Series 2015-2B Class B (Canada)†(b)	5.00%	6/15/2025		1,966,662		1,955,290
British Airways Pass-Through Trust Series 2013-1 Class A (United Kingdom)†(b)	4.625%	12/20/2025		573,392		565,715
Total						2,521,005
Apparel 0.32%
PVH Corp.	4.625%	7/10/2025		5,561,000		5,425,016
Auto Manufacturers 1.72%
Ford Motor Credit Co. LLC	5.584%	3/18/2024		7,843,000		7,814,572
General Motors Financial Co., Inc.	2.75%	6/20/2025		1,378,000		1,306,553
General Motors Financial Co., Inc.	3.95%	4/13/2024		2,837,000		2,792,981
General Motors Financial Co., Inc.	5.40%	4/6/2026		1,204,000		1,199,028
Hyundai Capital America†	0.80%	1/8/2024		1,383,000		1,341,599
Hyundai Capital America†	0.875%	6/14/2024		3,034,000		2,887,290
Hyundai Capital America†	1.00%	9/17/2024		1,088,000		1,024,838
Hyundai Capital America†	1.25%	9/18/2023		2,272,000		2,240,125
Hyundai Capital America	3.40%	6/20/2024		6,181,000		6,039,280
Hyundai Capital America†	5.50%	3/30/2026		1,876,000		1,876,886
Hyundai Capital America†	5.875%	4/7/2025		960,000		965,964
Total						29,489,116

See Notes to Financial Statements. 173

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Auto Parts & Equipment 0.04%
Clarios Global LP/Clarios U.S. Finance Co.†	8.50%		5/15/2027	$	700,000	$	703,114
Banks 20.52%
ABN AMRO Bank NV (Netherlands)†(b)	4.75%		7/28/2025		5,620,000		5,453,445
ABN AMRO Bank NV (Netherlands)†(b)	4.80%		4/18/2026		2,000,000		1,933,651
AIB Group PLC (Ireland)†(b)	4.263% (3 mo. USD LIBOR + 1.87%	)#	4/10/2025		12,000,000		11,723,302
Australia & New Zealand Banking Group Ltd. (Australia)†(b)	4.40%		5/19/2026		2,317,000		2,219,257
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand (Mexico)†(b)	5.375%		4/17/2025		2,434,000		2,425,154
Bank of America Corp.	0.523% (SOFR + 0.41%	)#	6/14/2024		2,758,000		2,752,272
Bank of America Corp.	1.197% (SOFR + 1.01%	)#	10/24/2026		6,122,000		5,520,900
Bank of America Corp.	1.53% (SOFR + 0.65%	)#	12/6/2025		2,411,000		2,261,067
Bank of America Corp.	1.734% (SOFR + 0.96%	)#	7/22/2027		1,316,000		1,174,172
Bank of America Corp.	2.456% (3 mo. USD Term SOFR + 1.13%	)#	10/22/2025		6,004,000		5,730,155
Bank of America Corp.	3.384% (SOFR + 1.33%	)#	4/2/2026		6,858,000		6,602,317
Bank of America Corp.	3.841% (SOFR + 1.11%	)#	4/25/2025		5,123,000		5,036,818
Bank of America Corp.	3.95%		4/21/2025		4,295,000		4,186,218
Bank of America Corp.	4.948% (SOFR + 2.04%	)#	7/22/2028		5,101,000		5,048,931
Bank of Ireland Group PLC (Ireland)†(b)	2.029% (1 yr. CMT + 1.10%	)#	9/30/2027		5,505,000		4,793,154
Bank of Ireland Group PLC (Ireland)†(b)	4.50%		11/25/2023		5,242,000		5,194,749
Bank of Ireland Group PLC (Ireland)†(b)	6.253% (1 yr. CMT + 2.65%	)#	9/16/2026		1,715,000		1,709,240
Bank of Montreal (Canada)(b)	3.70%		6/7/2025		3,004,000		2,912,290
BankUnited, Inc.	4.875%		11/17/2025		4,100,000		3,432,324
Barclays plc (United Kingdom)(b)	2.852% (SOFR + 2.71%	)#	5/7/2026		3,150,000		2,961,662
Barclays plc (United Kingdom)(b)	4.836%		5/9/2028		1,142,000		1,058,017
Barclays plc (United Kingdom)(b)	5.20%		5/12/2026		3,750,000		3,641,385
Barclays plc (United Kingdom)(b)	5.829% (SOFR + 2.21%	)#	5/9/2027		3,009,000		3,003,753

174 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal  Amount		Fair Value
Banks (continued)
BBVA Bancomer SA†	4.375%		4/10/2024	$	1,015,000	$	1,003,982
BNP Paribas SA (France)†(b)	1.323% (SOFR + 1.00%	)#	1/13/2027		246,000		219,562
BNP Paribas SA (France)†(b)	2.219% (SOFR + 2.07%	)#	6/9/2026		200,000		185,735
BNP Paribas SA (France)†(b)	2.819% (3 mo. USD LIBOR + 1.11%	)#	11/19/2025		5,406,000		5,153,262
BNP Paribas SA (France)†(b)	4.375%		5/12/2026		436,000		418,040
BNP Paribas SA (France)†(b)	5.125% (1 yr. CMT + 1.45%	)#	1/13/2029		1,856,000		1,851,592
BPCE SA (France)†(b)	2.375%		1/14/2025		696,000		655,935
BPCE SA (France)†(b)	4.50%		3/15/2025		2,114,000		2,040,264
BPCE SA (France)†(b)	5.15%		7/21/2024		7,472,000		7,316,494
BPCE SA (France)†(b)	5.975% (SOFR + 2.10%	)#	1/18/2027		2,788,000		2,786,863
Canadian Imperial Bank of Commerce (Canada)(b)	3.945%		8/4/2025		5,013,000		4,858,492
Citigroup, Inc.	3.106% (SOFR + 2.84%	)#	4/8/2026		9,576,000		9,184,334
Citigroup, Inc.	3.29% (SOFR + 1.53%	)#	3/17/2026		1,152,000		1,108,605
Citigroup, Inc.	3.352% (3 mo. USD Term SOFR + 1.16%	)#	4/24/2025		2,146,000		2,098,032
Citigroup, Inc.	4.14% (SOFR + 1.37%	)#	5/24/2025		2,053,000		2,020,642
Citigroup, Inc.	4.40%		6/10/2025		3,586,000		3,503,896
Citigroup, Inc.	5.50%		9/13/2025		6,000,000		6,002,394
Credit Agricole SA (France)†(b)	4.375%		3/17/2025		2,058,000		1,992,748
Credit Suisse AG	3.625%		9/9/2024		1,566,000		1,500,682
Credit Suisse Group AG (Switzerland)†(b)	2.193% (SOFR + 2.04%	)#	6/5/2026		529,000		480,551
Credit Suisse Group AG (Switzerland)†(b)	2.593% (SOFR + 1.56%	)#	9/11/2025		2,557,000		2,412,939
Credit Suisse Group AG (Switzerland)†(b)	4.207% (3 mo. USD LIBOR + 1.24%	)#	6/12/2024		785,000		775,658
Danske Bank AS (Denmark)†(b)	1.226% (1 yr. CMT + 1.00%	)#	6/22/2024		3,037,000		3,029,206
Danske Bank AS (Denmark)†(b)	1.621% (1 yr. CMT + 1.35%	)#	9/11/2026		608,000		547,018
Danske Bank AS (Denmark)†(b)	3.244% (3 mo. USD LIBOR + 1.59%	)#	12/20/2025		11,328,000		10,797,867
Danske Bank AS (Denmark)†(b)	4.298% (1 yr. CMT + 1.75%	)#	4/1/2028		2,565,000		2,410,806

See Notes to Financial Statements. 175

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Danske Bank AS (Denmark)†(b)	5.375%		1/12/2024	$	16,478,000	$	16,352,427
Discover Bank	4.25%		3/13/2026		1,275,000		1,216,375
Federation des Caisses Desjardins du Quebec (Canada)†(b)	5.70%		3/14/2028		2,139,000		2,159,102
First-Citizens Bank & Trust Co.	3.929% (SOFR + 3.83%	)#	6/19/2024		266,000		262,870
Goldman Sachs Group, Inc.	0.657% (SOFR + 0.51%	)#	9/10/2024		2,758,000		2,716,109
Goldman Sachs Group, Inc.	1.948% (SOFR + 0.91%	)#	10/21/2027		7,434,000		6,624,314
Goldman Sachs Group, Inc.	2.64% (SOFR + 1.11%	)#	2/24/2028		2,467,000		2,238,066
Goldman Sachs Group, Inc.	4.223% (3 mo. USD Term SOFR + 1.56%	)#	5/1/2029		4,000,000		3,793,910
Goldman Sachs Group, Inc.	5.751% (SOFR + 0.70%	)#	1/24/2025		4,991,000		4,975,215
HSBC Holdings PLC (United Kingdom)(b)	0.732% (SOFR + 0.53%	)#	8/17/2024		1,219,000		1,204,241
HSBC Holdings PLC (United Kingdom)(b)	0.976% (SOFR + 0.71%	)#	5/24/2025		679,000		645,272
HSBC Holdings PLC (United Kingdom)(b)	3.803% (3 mo. USD LIBOR + 1.21%	)#	3/11/2025		3,240,000		3,180,303
Huntington Bancshares, Inc.	4.443% (SOFR + 1.97%	)#	8/4/2028		2,177,000		2,024,795
Huntington National Bank	5.699% (SOFR + 1.22%	)#	11/18/2025		4,314,000		4,097,221
Intesa Sanpaolo SpA (Italy)†(b)	3.25%		9/23/2024		3,928,000		3,770,928
Intesa Sanpaolo SpA (Italy)†(b)	5.017%		6/26/2024		5,928,000		5,767,621
Intesa Sanpaolo SpA (Italy)†(b)	5.71%		1/15/2026		2,102,000		2,002,408
JPMorgan Chase & Co.	0.824% (3 mo. USD Term SOFR + 0.54%	)#	6/1/2025		2,899,000		2,755,029
JPMorgan Chase & Co.	4.851% (SOFR + 1.99%	)#	7/25/2028		2,729,000		2,716,136
JPMorgan Chase & Co.	6.012% (SOFR + 0.92%	)#	2/24/2026		3,765,000		3,769,511
JPMorgan Chase & Co.	6.272% (SOFR + 1.18%	)#	2/24/2028		2,527,000		2,543,189
Lloyds Banking Group PLC (United Kingdom)(b)	4.582%		12/10/2025		5,156,000		4,923,262
Macquarie Group Ltd. (Australia)†(b)	1.201% (SOFR + 0.69%	)#	10/14/2025		6,843,000		6,409,591
Macquarie Group Ltd. (Australia)†(b)	1.34% (SOFR + 1.07%	)#	1/12/2027		403,000		360,876

176 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity  Date	Principal Amount		Fair Value
Banks (continued)
Manufacturers & Traders Trust Co.	4.65%		1/27/2026	$	4,591,000	$	4,375,587
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	4.788% (1 yr. CMT + 1.70%	)#	7/18/2025		3,660,000		3,622,158
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	5.063% (1 yr. CMT + 1.55%	)#	9/12/2025		3,503,000		3,473,482
Morgan Stanley	0.79% (SOFR + 0.53%	)#	5/30/2025		3,468,000		3,287,940
Morgan Stanley	0.791% (SOFR + 0.51%	)#	1/22/2025		3,835,000		3,711,550
Morgan Stanley	3.62% (SOFR + 1.16%	)#	4/17/2025		3,253,000		3,187,960
NatWest Group PLC (United Kingdom)(b)	4.269% (3 mo. USD LIBOR + 1.76%	)#	3/22/2025		1,148,000		1,128,859
NatWest Markets PLC (United Kingdom)†(b)	0.80%		8/12/2024		613,000		579,307
NatWest Markets PLC (United Kingdom)†(b)	3.479%		3/22/2025		3,036,000		2,920,163
Popular, Inc.	6.125%		9/14/2023		194,000		193,543
Royal Bank of Canada (Canada)(b)	6.00%		11/1/2027		1,989,000		2,062,012
Santander Holdings USA, Inc.	2.49% (SOFR + 1.25%	)#	1/6/2028		2,232,000		1,952,712
Santander U.K. Group Holdings PLC (United Kingdom)(b)	1.089% (SOFR + 0.79%	)#	3/15/2025		1,913,000		1,826,881
Santander U.K. Group Holdings PLC (United Kingdom)(b)	2.469% (SOFR + 1.22%	)#	1/11/2028		1,488,000		1,307,727
Santander U.K. Group Holdings PLC (United Kingdom)†(b)	4.75%		9/15/2025		3,337,000		3,199,206
Santander U.K. Group Holdings PLC (United Kingdom)(b)	4.796% (3 mo. USD LIBOR + 1.57%	)#	11/15/2024		5,776,000		5,730,843
Societe Generale SA (France)†(b)	2.226% (1 yr. CMT + 1.05%	)#	1/21/2026		1,992,000		1,849,876
Standard Chartered PLC (United Kingdom)†(b)	0.991% (1 yr. CMT + 0.78%	)#	1/12/2025		2,093,000		2,024,857
Standard Chartered PLC (United Kingdom)†(b)	1.214% (1 yr. CMT + 0.88%	)#	3/23/2025		200,000		192,227
Standard Chartered PLC (United Kingdom)†(b)	2.819% (3 mo. USD LIBOR + 1.21%	)#	1/30/2026		2,530,000		2,392,501
Standard Chartered PLC (United Kingdom)†(b)	3.785% (3 mo. USD LIBOR + 1.56%	)#	5/21/2025		1,940,000		1,893,976
Standard Chartered PLC (United Kingdom)†(b)	5.20%		1/26/2024		3,559,000		3,524,176
Svenska Handelsbanken AB (Sweden)†(b)	3.65%		6/10/2025		4,136,000		3,995,913

See Notes to Financial Statements. 177

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Truist Financial Corp.	1.267% (SOFR + 0.61%	)#	3/2/2027	$	1,503,000	$	1,331,609
U.S. Bancorp	4.548% (SOFR + 1.66%	)#	7/22/2028		2,554,000		2,456,444
UBS AG (Switzerland)(b)	5.125%		5/15/2024		18,374,000		18,104,637
UBS Group AG (Switzerland)†(b)	1.494% (1 yr. CMT + 0.85%	)#	8/10/2027		1,277,000		1,101,758
UBS Group AG (Switzerland)†(b)	4.488% (1 yr. CMT + 1.55%	)#	5/12/2026		3,442,000		3,328,406
UniCredit SpA (Italy)†(b)	2.569% (1 yr. CMT + 2.30%	)#	9/22/2026		2,520,000		2,279,788
UniCredit SpA (Italy)†(b)	7.83%		12/4/2023		8,170,000		8,205,703
Wells Fargo & Co.	4.808% (SOFR + 1.98%	)#	7/25/2028		5,134,000		5,055,773
Total							351,936,177
Biotechnology 0.36%
Amgen, Inc.	5.15%		3/2/2028		2,293,000		2,312,806
Illumina, Inc.	5.75%		12/13/2027		1,901,000		1,937,126
Illumina, Inc.	5.80%		12/12/2025		1,878,000		1,900,593
Total							6,150,525
Chemicals 0.90%
Celanese U.S. Holdings LLC	5.90%		7/5/2024		8,845,000		8,837,271
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		2,984,000		2,662,880
Orbia Advance Corp. SAB de CV (Mexico)†(b)	1.875%		5/11/2026		3,810,000		3,437,573
Sasol Financing USA LLC	5.875%		3/27/2024		530,000		521,307
Total							15,459,031
Commercial Services 0.65%
Adani Ports & Special Economic Zone Ltd. (India)†(b)	3.375%		7/24/2024		921,000		888,553
Global Payments, Inc.	2.65%		2/15/2025		827,000		787,893
Sabre Global, Inc.†	7.375%		9/1/2025		785,000		664,574
Triton Container International Ltd.†	0.80%		8/1/2023		3,076,000		3,026,772
Triton Container International Ltd.†	1.15%		6/7/2024		2,518,000		2,358,607
Triton Container International Ltd.†	2.05%		4/15/2026		3,872,000		3,409,336
Total							11,135,735
Computers 0.27%
Dell International LLC/EMC Corp.	6.02%		6/15/2026		4,556,000		4,664,658

178 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Diversified Financial Services 4.87%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	3.15%		2/15/2024	$	1,224,000	$	1,200,248
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.50%		9/15/2023		1,392,000		1,385,919
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.875%		1/16/2024		4,400,000		4,362,737
AerCap Ireland Capital DAC/AerCap Global Aviation Trust Series 3NC1 (Ireland)(b)	1.75%		10/29/2024		1,596,000		1,498,510
Air Lease Corp.	3.00%		9/15/2023		2,000,000		1,985,243
Air Lease Corp.	4.25%		2/1/2024		325,000		321,153
Aircastle Ltd.	4.40%		9/25/2023		2,715,000		2,693,229
Aircastle Ltd.†	5.25%		8/11/2025		6,323,000		6,144,188
Ally Financial, Inc.	1.45%		10/2/2023		2,223,000		2,187,687
Ally Financial, Inc.	3.875%		5/21/2024		5,389,000		5,216,750
Ally Financial, Inc.	5.75%		11/20/2025		5,002,000		4,862,228
American Express Co.	4.99%		5/1/2026		3,789,000		3,781,624
Aviation Capital Group LLC†	1.95%		1/30/2026		346,000		309,238
Aviation Capital Group LLC†	4.375%		1/30/2024		1,000,000		981,992
Aviation Capital Group LLC†	5.50%		12/15/2024		2,287,000		2,244,074
Aviation Capital Group LLC†	6.25%		4/15/2028		1,239,000		1,241,937
Avolon Holdings Funding Ltd. (Ireland)†(b)	4.25%		4/15/2026		2,247,000		2,081,711
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.125%		10/1/2023		6,298,000		6,270,980
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.25%		5/15/2024		1,754,000		1,727,291
Avolon Holdings Funding Ltd. (Ireland)†(b)	6.375%		5/4/2028		1,671,000		1,634,033
Bread Financial Holdings, Inc.†	4.75%		12/15/2024		2,934,000		2,754,623
Bread Financial Holdings, Inc.†	7.00%		1/15/2026		2,186,000		1,991,304
Capital One Financial Corp.	4.166% (SOFR + 1.37%	)#	5/9/2025		2,893,000		2,816,821
Navient Corp.	5.875%		10/25/2024		5,921,000		5,796,642
Navient Corp.	6.125%		3/25/2024		3,263,000		3,201,553
Navient Corp.	6.75%		6/25/2025		729,000		706,174
Navient Corp.	7.25%		9/25/2023		2,000,000		1,998,691
Nuveen Finance LLC†	4.125%		11/1/2024		3,335,000		3,248,544
OneMain Finance Corp.	6.125%		3/15/2024		3,996,000		3,908,422
Park Aerospace Holdings Ltd. (Ireland)†(b)	5.50%		2/15/2024		5,000,000		4,947,090
Total							83,500,636

See Notes to Financial Statements. 179

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Electric 4.50%
AES Corp.†	3.30%		7/15/2025	$	4,791,000	$	4,547,306
Alexander Funding Trust†	1.841%		11/15/2023		2,465,000		2,408,663
American Electric Power Co., Inc.	2.031%		3/15/2024		1,223,000		1,183,761
American Electric Power Co., Inc.	5.75%		11/1/2027		1,263,000		1,302,511
Black Hills Corp.	5.95%		3/15/2028		1,760,000		1,811,326
Calpine Corp.†	5.25%		6/1/2026		663,000		643,533
CenterPoint Energy, Inc.	5.74% (SOFR + 0.65%	)#	5/13/2024		4,038,000		4,027,488
Cleveland Electric Illuminating Co.	5.50%		8/15/2024		2,650,000		2,654,222
Comision Federal de Electricidad (Mexico)(b)	4.75%		2/23/2027		1,025,000		980,520
DTE Energy Co.	4.875%		6/1/2028		2,218,000		2,194,625
Duke Energy Corp.	2.65%		9/1/2026		1,650,000		1,532,838
Eskom Holdings SOC Ltd. (South Africa)†(b)	7.125%		2/11/2025		1,397,000		1,341,837
Fells Point Funding Trust†	3.046%		1/31/2027		2,777,000		2,584,201
IPALCO Enterprises, Inc.	3.70%		9/1/2024		1,500,000		1,451,374
Israel Electric Corp. Ltd. (Israel)†(b)	6.875%		6/21/2023		1,240,000		1,240,096
Jersey Central Power & Light Co.†	4.70%		4/1/2024		5,530,000		5,468,234
Monongahela Power Co.†	4.10%		4/15/2024		4,000,000		3,915,618
NextEra Energy Capital Holdings, Inc.	6.051%		3/1/2025		1,056,000		1,068,178
Niagara Mohawk Power Corp.†	3.508%		10/1/2024		2,337,000		2,253,358
NRG Energy, Inc.†	3.75%		6/15/2024		4,197,000		4,066,759
Oncor Electric Delivery Co. LLC	4.30%		5/15/2028		1,192,000		1,177,880
Pacific Gas & Electric Co.	3.15%		1/1/2026		4,190,729		3,920,779
Pennsylvania Electric Co.†	5.15%		3/30/2026		1,081,000		1,074,658
Puget Energy, Inc.	3.65%		5/15/2025		4,587,000		4,423,432
Southern Co.	5.113%		8/1/2027		2,244,000		2,240,693
System Energy Resources, Inc.	6.00%		4/15/2028		7,237,000		7,354,191
Trans-Allegheny Interstate Line Co.†	3.85%		6/1/2025		2,520,000		2,446,375
Vistra Operations Co. LLC†	3.55%		7/15/2024		3,863,000		3,739,728
Vistra Operations Co. LLC†	4.875%		5/13/2024		4,211,000		4,149,956
Total							77,204,140
Energy-Alternate Sources 0.03%
Greenko Dutch BV (Netherlands)†(b)	3.85%		3/29/2026		580,920		515,340
Entertainment 0.23%
Warnermedia Holdings, Inc.	3.428%		3/15/2024		2,337,000		2,288,455
Warnermedia Holdings, Inc.	6.412%		3/15/2026		1,599,000		1,602,896
Total							3,891,351

180 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Forest Products & Paper 0.06%
Suzano Austria GmbH (Brazil)†(b)	5.75%	7/14/2026	$	984,000	$	998,165
Gas 0.56%
Brooklyn Union Gas Co.†	4.632%	8/5/2027		3,505,000		3,389,100
Centrica PLC (United Kingdom)†(b)	4.00%	10/16/2023		2,450,000		2,434,457
ONE Gas, Inc.	1.10%	3/11/2024		1,737,000		1,678,267
Southwest Gas Corp.	5.80%	12/1/2027		2,002,000		2,050,260
Total						9,552,084
Hand/Machine Tools 0.31%
Regal Rexnord Corp.†	6.05%	2/15/2026		1,497,000		1,501,280
Regal Rexnord Corp.†	6.05%	4/15/2028		2,206,000		2,182,071
Stanley Black & Decker, Inc.	6.00%	3/6/2028		1,659,000		1,699,295
Total						5,382,646
Health Care-Products 0.15%
GE HealthCare Technologies, Inc.†	5.60%	11/15/2025		2,500,000		2,507,516
Health Care-Services 0.72%
Centene Corp.	2.45%	7/15/2028		2,880,000		2,477,174
Centene Corp.	4.25%	12/15/2027		3,076,000		2,893,532
HCA, Inc.	5.20%	6/1/2028		705,000		700,906
HCA, Inc.	5.25%	4/15/2025		3,416,000		3,390,411
HCA, Inc.	5.25%	6/15/2026		610,000		605,992
HCA, Inc.	5.375%	2/1/2025		611,000		607,062
Humana, Inc.	5.75%	3/1/2028		1,698,000		1,759,973
Total						12,435,050
Home Builders 0.22%
Lennar Corp.	4.875%	12/15/2023		66,000		65,880
Toll Brothers Finance Corp.	4.875%	11/15/2025		3,897,000		3,796,782
Total						3,862,662
Housewares 0.04%
Newell Brands, Inc.	4.70%	4/1/2026		725,000		673,347
Insurance 1.47%
Aon Corp.	8.205%	1/1/2027		1,183,000		1,208,618
CNO Financial Group, Inc.	5.25%	5/30/2025		1,500,000		1,485,641
CNO Global Funding †	1.75%	10/7/2026		1,313,000		1,172,278
Equitable Financial Life Global Funding†	5.45%	3/3/2028		2,416,000		2,455,844
F&G Annuities & Life, Inc.†	7.40%	1/13/2028		1,438,000		1,445,351

See Notes to Financial Statements. 181

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Insurance (continued)
F&G Global Funding†	0.90%	9/20/2024	$	1,368,000	$	1,274,146
F&G Global Funding†	1.75%	6/30/2026		1,080,000		963,913
F&G Global Funding†	2.30%	4/11/2027		3,750,000		3,356,892
GA Global Funding Trust†	0.80%	9/13/2024		1,032,000		964,464
GA Global Funding Trust†	3.85%	4/11/2025		3,993,000		3,828,272
Jackson National Life Global Funding†	1.75%	1/12/2025		1,966,000		1,834,457
Kemper Corp.	4.35%	2/15/2025		2,101,000		2,026,475
New York Life Global Funding†	4.70%	4/2/2026		1,899,000		1,889,838
Protective Life Global Funding†	5.209%	4/14/2026		1,388,000		1,381,470
Total						25,287,659
Internet 0.48%
Netflix, Inc.†	3.625%	6/15/2025		1,025,000		991,777
Netflix, Inc.	4.375%	11/15/2026		3,678,000		3,617,659
Prosus NV (Netherlands)†(b)	3.257%	1/19/2027		4,000,000		3,632,395
Total						8,241,831
Iron-Steel 0.12%
Baffinland Iron Mines Corp./Baffinland Iron Mines LP (Canada)†(b)	8.75%	7/15/2026		2,230,000		2,143,873
Lodging 0.37%
Hyatt Hotels Corp.	1.30%	10/1/2023		6,396,000		6,299,075
Machinery-Diversified 0.12%
Westinghouse Air Brake Technologies Corp.	4.40%	3/15/2024		2,004,000		1,976,619
Media 0.09%
FactSet Research Systems, Inc.	2.90%	3/1/2027		1,732,000		1,602,896
Mining 1.17%
Anglo American Capital PLC (United Kingdom)†(b)	3.625%	9/11/2024		4,500,000		4,379,644
First Quantum Minerals Ltd. (Canada)†(b)	7.50%	4/1/2025		2,682,000		2,679,238
Glencore Funding LLC†	1.625%	4/27/2026		596,000		539,682
Glencore Funding LLC†	4.00%	4/16/2025		1,567,000		1,531,777
Glencore Funding LLC†	4.00%	3/27/2027		1,097,000		1,048,551
Glencore Funding LLC†	4.125%	3/12/2024		4,797,000		4,723,960
Glencore Funding LLC†	4.625%	4/29/2024		5,200,000		5,149,018
Total						20,051,870

182 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Oil & Gas 4.79%
Aker BP ASA (Norway)†(b)		2.00%		7/15/2026	$	3,429,000	$	3,093,384
Chord Energy Corp.†		6.375%		6/1/2026		2,978,000		2,936,427
Continental Resources, Inc.†		2.268%		11/15/2026		4,431,000		3,964,419
Continental Resources, Inc.		3.80%		6/1/2024		7,356,000		7,212,660
Continental Resources, Inc.		4.375%		1/15/2028		5,076,000		4,775,326
CrownRock LP/CrownRock Finance, Inc.†		5.625%		10/15/2025		3,360,000		3,295,824
Devon Energy Corp.		5.25%		10/15/2027		5,729,000		5,669,956
Devon Energy Corp.		5.875%		6/15/2028		7,055,000		7,071,045
Devon Energy Corp.		8.25%		8/1/2023		5,532,000		5,536,698
Eni SpA (Italy)†(b)		4.00%		9/12/2023		660,000		655,910
EQT Corp.		3.90%		10/1/2027		3,000,000		2,790,300
EQT Corp.		6.125%		2/1/2025		7,455,000		7,467,375
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp.†		6.00%		8/1/2026		2,359,000		2,286,567
Matador Resources Co.		5.875%		9/15/2026		3,267,000		3,158,636
OGX Austria GmbH (Brazil)†(b)(c)		8.50%		6/1/2018		225,000		5
Parsley Energy LLC/Parsley Finance Corp.†		4.125%		2/15/2028		1,930,000		1,805,306
PDC Energy, Inc.		5.75%		5/15/2026		2,443,000		2,437,748
PDC Energy, Inc.		6.125%		9/15/2024		241,000		241,096
Petroleos Mexicanos (Mexico)(b)		6.49%		1/23/2027		713,000		617,649
Petroleos Mexicanos (Mexico)(b)		6.875%		8/4/2026		4,629,000		4,230,054
Pioneer Natural Resources Co.		5.10%		3/29/2026		974,000		974,321
Suncor Energy, Inc. (Canada)(b)		7.875%		6/15/2026		2,719,000		2,895,712
Tengizchevroil Finance Co. International Ltd. (Kazakhstan)†(b)		2.625%		8/15/2025		3,500,000		3,132,437
Viper Energy Partners LP†		5.375%		11/1/2027		2,857,000		2,751,291
Vital Energy, Inc.		9.50%		1/15/2025		3,251,000		3,219,036
Total								82,219,182
Pharmaceuticals 0.53%
Bayer U.S. Finance II LLC†		3.875%		12/15/2023		4,207,000		4,163,251
Bayer U.S. Finance II LLC†		4.25%		12/15/2025		3,750,000		3,642,023
Bayer U.S. Finance II LLC†	5.876% (3 mo. USD LIBOR + 1.01%		)#	12/15/2023		1,325,000		1,324,497
Total								9,129,771
Pipelines 1.41%
Cheniere Corpus Christi Holdings LLC		5.875%		3/31/2025		7,180,000		7,189,368
DCP Midstream Operating LP		5.375%		7/15/2025		1,361,000		1,347,215
Plains All American Pipeline LP/PAA Finance Corp.		3.85%		10/15/2023		2,036,000		2,017,426
Sabine Pass Liquefaction LLC		5.75%		5/15/2024		3,218,000		3,212,320

See Notes to Financial Statements. 183

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Pipelines (continued)
Sabine Pass Liquefaction LLC	5.875%	6/30/2026	$	4,500,000	$	4,567,183
Targa Resources Partners LP/Targa Resources Partners Finance Corp.	6.50%	7/15/2027		5,879,000		5,905,296
Total						24,238,808
REITS 2.21%
American Tower Corp.	3.60%	1/15/2028		4,211,000		3,928,642
American Tower Corp.	3.65%	3/15/2027		3,421,000		3,234,320
American Tower Corp.	5.50%	3/15/2028		2,153,000		2,176,707
Crown Castle, Inc.	5.00%	1/11/2028		1,464,000		1,452,788
EPR Properties	4.50%	6/1/2027		1,256,000		1,110,056
EPR Properties	4.75%	12/15/2026		3,360,000		3,035,991
GLP Capital LP/GLP Financing II, Inc.	5.25%	6/1/2025		1,275,000		1,248,614
HAT Holdings I LLC/HAT Holdings II LLC†	3.375%	6/15/2026		1,985,000		1,739,166
Kite Realty Group Trust	4.00%	3/15/2025		1,755,000		1,662,722
VICI Properties LP/VICI Note Co., Inc.†	3.50%	2/15/2025		6,577,000		6,278,630
VICI Properties LP/VICI Note Co., Inc.†	3.75%	2/15/2027		2,599,000		2,410,047
VICI Properties LP/VICI Note Co., Inc.†	5.625%	5/1/2024		2,277,000		2,263,859
Vornado Realty LP	3.50%	1/15/2025		2,484,000		2,300,819
WEA Finance LLC/Westfield U.K. & Europe Finance PLC†	3.75%	9/17/2024		5,314,000		5,020,461
Total						37,862,822
Semiconductors 0.70%
Microchip Technology, Inc.	0.972%	2/15/2024		4,530,000		4,375,140
Microchip Technology, Inc.	2.67%	9/1/2023		1,525,000		1,512,034
Microchip Technology, Inc.	4.333%	6/1/2023		4,111,000		4,111,000
Qorvo, Inc.†	1.75%	12/15/2024		1,840,000		1,719,811
SK Hynix, Inc. (South Korea)†(b)	1.50%	1/19/2026		316,000		279,508
Total						11,997,493
Software 0.30%
Oracle Corp.	2.30%	3/25/2028		2,065,000		1,828,011
Oracle Corp.	2.50%	4/1/2025		977,000		931,826
Take-Two Interactive Software, Inc.	3.55%	4/14/2025		455,000		440,623
Take-Two Interactive Software, Inc.	5.00%	3/28/2026		2,016,000		2,008,186
Total						5,208,646
Telecommunications 0.30%
Altice France SA (France)†(b)	8.125%	2/1/2027		4,300,000		3,710,051
T-Mobile USA, Inc.	3.75%	4/15/2027		1,559,000		1,481,475
Total						5,191,526

184 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Trucking & Leasing 0.09%
Fortress Transportation & Infrastructure Investors LLC†	6.50%		10/1/2025	$	1,577,000	$	1,533,936
Total Corporate Bonds (cost $937,716,832)							897,353,541
FLOATING RATE LOANS(d) 2.59%
Chemicals 0.03%
Nutrition & Biosciences, Inc. 3 Year Delayed Draw Term Loan	6.673% (3 mo. USD Term SOFR + 1.50%	)	2/1/2024		495,689		494,759
Commercial Services 0.54%
Moneygram International, Inc. 2021 Term Loan B	11.75% (PRIME Rate + 3.50%	)	7/21/2026		9,219,463		9,209,414
Food 0.18%
US Foods, Inc. 2019 Term Loan B	–	(e)	9/13/2026		3,050,000		3,041,643
Lodging 0.25%
Resorts World Las Vegas LLC Term Loan A	6.66% (1 mo. USD LIBOR + 1.50%	)	4/16/2024		4,400,000		4,389,000
Media 1.02%
Charter Communications Operating, LLC 2019 Term Loan B1	6.903% - 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%	) )	4/30/2025		15,245,909		15,232,950
Univision Communications, Inc. Term Loan C5	7.904% (1 mo. USD LIBOR + 2.75%	)	3/15/2024		2,250,000		2,253,510
Total							17,486,460
Pipelines 0.07%
Buckeye Partners LP 2021 Term Loan B	7.284% (1 mo. USD LIBOR + 2.25%	)	11/1/2026		1,329,412		1,314,004
Real Estate Investment Trusts 0.39%
American Tower Corp. 2021 First Lien Delayed Draw Term loan	6.25% (1 mo. USD LIBOR + 1.13%	)	12/8/2023		4,455,475		4,454,094
Invitation Homes Operating Partnership LP 2020 Term Loan A	6.253% (1 mo. USD Term SOFR + 1.00%	)	1/31/2025		2,245,570		2,206,272
Total							6,660,366

See Notes to Financial Statements. 185

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Software 0.11%
Project Alpha Intermediate Holding, Inc. 2021 Term Loan B	9.16% (1 mo. USD LIBOR + 4.00%	)	4/26/2024	$	1,875,686	$	1,869,243
Transportation 0.00%
XPO Logistics, Inc. 2018 Term Loan B	6.849% (1 mo. USD LIBOR + 1.75%	)	2/24/2025		2,814		2,815
Total Floating Rate Loans (cost $44,499,261)							44,467,704
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.02%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 001 Class XA	2.112%	#(f)	2/25/2032		1,212,182		91,122
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 061 Class X1	0.153%	#(f)	11/25/2026		13,687,295		74,682
Government National Mortgage Association Series 2013-193 Class IO	0.176%	#(f)	1/16/2055		22,432		1,223
Government National Mortgage Association Series 2014-112 Class A	3.00%	#(f)	1/16/2048		138,824		125,389
Government National Mortgage Association Series 2014-15 Class IO	0.596%	#(f)	8/16/2054		3,519		2,729	(a)
Government National Mortgage Association Series 2015-19 Class AD	2.90%		10/16/2055		17,324		16,843
Total Government Sponsored Enterprises Collateralized Mortgage Obligations (cost $358,963)							311,988
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS 0.08%
Federal Home Loan Mortgage Corp.	3.89%  (1 yr. USD LIBOR + 1.64%	)#	11/1/2043		145,401		143,514
Federal Home Loan Mortgage Corp.	4.044%  (1 yr. USD LIBOR + 1.78%	)#	5/1/2036		19,480		19,652
Federal Home Loan Mortgage Corp.	4.058%  (1 yr. USD LIBOR + 1.78%	)#	10/1/2038		15,080		15,277
Federal Home Loan Mortgage Corp.	4.084%  (1 yr. USD LIBOR + 1.72%	)#	4/1/2037		21,243		21,433
Federal Home Loan Mortgage Corp.	4.094%  (1 yr. USD LIBOR + 1.79%	)#	12/1/2036		51,824		52,570
Federal Home Loan Mortgage Corp.	4.10%  (1 yr. USD LIBOR + 1.66%	)#	2/1/2038		92,562		92,991
Federal Home Loan Mortgage Corp.	4.201%  (1 yr. USD LIBOR + 1.95%	)#	2/1/2037		56,182		57,074
Federal Home Loan Mortgage Corp.	4.222%  (1 yr. USD LIBOR + 1.92%	)#	9/1/2036		59,894		60,859

186 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS (continued)
Federal National Mortgage Association	3.785%  (1 yr. USD LIBOR + 1.53%	)#	10/1/2035	$	63,439	$	64,111
Federal National Mortgage Association	3.898%  (1 yr. USD LIBOR + 1.55%	)#	6/1/2038		52,651		51,927
Federal National Mortgage Association	3.937%  (1 yr. USD LIBOR + 1.64%	)#	9/1/2038		46,556		47,106
Federal National Mortgage Association	3.938%  (1 yr. USD LIBOR + 1.52%	)#	3/1/2039		38,663		38,958
Federal National Mortgage Association	3.953%  (1 yr. USD LIBOR + 1.66%	)#	8/1/2038		11,037		10,950
Federal National Mortgage Association	4.042%  (1 yr. USD LIBOR + 1.79%	)#	3/1/2042		239,436		243,215
Federal National Mortgage Association	4.052%  (1 yr. USD LIBOR + 1.80%	)#	10/1/2040		13,655		13,929
Federal National Mortgage Association	4.062%  (1 yr. USD LIBOR + 1.81%	)#	12/1/2040		24,063		24,382
Federal National Mortgage Association	4.067%  (1 yr. USD LIBOR + 1.82%	)#	12/1/2040		50,274		51,069
Federal National Mortgage Association	4.145%  (1 yr. USD LIBOR + 1.81%	)#	4/1/2040		26,797		27,145
Federal National Mortgage Association	4.186% (1 yr. USD LIBOR + 1.62%  (1 yr. CMT + 2.20%	) )#	8/1/2037 - 1/1/2038		41,118		41,760
Federal National Mortgage Association	4.346%  (1 yr. CMT + 2.24%	)#	3/1/2038		3,520		3,479
Federal National Mortgage Association	4.665%  (1 yr. USD LIBOR + 1.89%	)#	12/1/2038		22,136		22,591
Federal National Mortgage Association	5.519%  (1 yr. USD LIBOR + 1.60%	)#	10/1/2045		38,301		39,271
Federal National Mortgage Association	6.424%  (1 yr. USD LIBOR + 1.60%	)#	12/1/2045		198,397		202,240
Federal National Mortgage Association	6.491%  (1 yr. USD LIBOR + 1.60%	)#	12/1/2045		50,600		51,624
Total Government Sponsored Enterprises Pass-Throughs (cost $1,431,758)							1,397,127
MUNICIPAL BONDS 0.02%
Government
State of Illinois GO (cost $318,818)	4.95%		6/1/2023		318,818		318,818

See Notes to Financial Statements. 187

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 12.24%
Angel Oak Mortgage Trust Series 2020-1 Class A1†	2.466%	#(f)	12/25/2059	$	96,677	$	90,797
Angel Oak Mortgage Trust Series 2020-6 Class A1†	1.261%	#(f)	5/25/2065		144,750		129,768
Atrium Hotel Portfolio Trust Series 2017-ATRM Class B†	6.857% (1 mo. USD LIBOR + 1.75%	)#	12/15/2036		842,000		792,666
BBCMS Mortgage Trust Series 2018-TALL Class A†	5.98% (1 mo. USD LIBOR + 0.87%	)#	3/15/2037		3,400,000		3,060,509
BBCMS Mortgage Trust Series 2018-TALL Class C†	6.379% (1 mo. USD LIBOR + 1.27%	)#	3/15/2037		3,350,000		2,591,051
BBCMS Trust Series 2015-VFM Class A1†	2.466%		3/10/2036		164,073		151,830
BB-UBS Trust Series 2012-TFT Class B†	3.559%	#(f)	6/5/2030		2,149,000		1,907,044
BB-UBS Trust Series 2012-TFT Class C†	3.559%	#(f)	6/5/2030		3,000,000		2,464,161
BHMS Mortgage Trust Series 2018-ATLS Class A†	6.357% (1 mo. USD LIBOR + 1.25%	)#	7/15/2035		2,639,902		2,568,832
BHMS Mortgage Trust Series 2018-ATLS Class C†	7.007% (1 mo. USD LIBOR + 1.90%	)#	7/15/2035		12,254,000		11,656,551
BHMS Mortgage Trust Series 2018-ATLS Class D†	7.357% (1 mo. USD LIBOR + 2.25%	)#	7/15/2035		8,630,000		8,133,117
BWAY Mortgage Trust Series 2013-1515 Class XB†	0.403%	#(f)	3/10/2033		47,800,000		273,340
BWAY Mortgage Trust Series 2015-1740 Class C†	3.342%		1/10/2035		3,350,000		2,229,510
BX Commercial Mortgage Trust Series 2019-IMC Class A†	6.107% (1 mo. USD LIBOR + 1.00%	)#	4/15/2034		5,880,895		5,809,209
BX Commercial Mortgage Trust Series 2019-IMC Class B†	6.407% (1 mo. USD LIBOR + 1.30%	)#	4/15/2034		7,950,000		7,774,559
BX Trust Series 2021-MFM1 Class A†	5.874% (1 mo. USD Term SOFR + 0.81%	)#	1/15/2034		126,594		123,629
BXHPP Trust Series 2021-FILM Class A†	5.757% (1 mo. USD LIBOR + 0.65%	)#	8/15/2036		10,000,000		9,398,024
CFCRE Commercial Mortgage Trust Series 2016-C4 Class XA	1.605%	#(f)	5/10/2058		853,285		29,519
CFCRE Commercial Mortgage Trust Series 2016-C6 Class XA	1.083%	#(f)	11/10/2049		2,572,122		72,409
CFCRE Commercial Mortgage Trust Series 2016-C7 Class XA	0.658%	#(f)	12/10/2054		3,416,500		66,107
Citigroup Commercial Mortgage Trust Series 2014-GC23 Class XB	0.209%	#(f)	7/10/2047		3,452,000		6,982

188 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Citigroup Commercial Mortgage Trust Series 2015-GC31 Class XA	0.333%	#(f)	6/10/2048	$	5,390,845	$	31,073
COLT Mortgage Loan Trust Series 2021-2 Class A1†	0.924%	#(f)	8/25/2066		5,518,980		4,301,272
Commercial Mortgage Pass-Through Certificates Series 2012-CR1 Class B	4.612%		5/15/2045		1,352,988		1,290,287
Commercial Mortgage Pass-Through Certificates Series 2012-CR3 Class B†	3.922%		10/15/2045		617,000		534,917
Commercial Mortgage Pass-Through Certificates Series 2012-CR4 Class XA	1.182%	#(f)	10/15/2045		989,410		10
Commercial Mortgage Pass-Through Certificates Series 2012-LTRT Class A2†	3.40%		10/5/2030		941,711		825,021
Commercial Mortgage Pass-Through Certificates Series 2013-CR8 Class XA	0.156%	#(f)	6/10/2046		1,383,803		14
Commercial Mortgage Pass-Through Certificates Series 2014-CR19 Class XA	0.927%	#(f)	8/10/2047		2,072,736		15,258
Commercial Mortgage Pass-Through Certificates Series 2016-CD1 Class XA	1.365%	#(f)	8/10/2049		787,311		24,625
Credit Suisse Mortgage Capital Certificates Series 2016-NXSR Class XB	0.177%	#(f)	12/15/2049		20,135,000		147,487
Credit Suisse Mortgage Capital Certificates Series 2020-SPT1 Class A1†	1.616%	(g)	4/25/2065		41,590		40,855
Credit Suisse Mortgage Capital Certificates Trust Series 2014-USA Class X1†	0.54%	#(f)	9/15/2037		39,135,267		359,097
Credit Suisse Mortgage Capital Certificates Trust Series 2017-PFHP Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	12/15/2030		502,000		478,278
Credit Suisse Mortgage Capital Certificates Trust Series 2021-ADV Class A†	6.508% (1 mo. USD LIBOR + 1.40%	)#	7/15/2038		6,130,000		5,521,751
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM1 Class A1†	0.809%	#(f)	5/25/2065		2,125,755		1,801,574
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM3 Class A1†	1.015%	#(f)	4/25/2066		805,006		658,803
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM6 Class A1†	1.174%	#(f)	7/25/2066		3,542,253		2,852,828
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM7 Class A3†	2.064%	#(f)	10/25/2066		862,961		712,231
Credit Suisse Mortgage Capital Certificates Trust Series 2022-NQM1 Class A1†	2.265%	#(f)	11/25/2066		4,722,558		4,082,684
CSAIL Commercial Mortgage Trust Series 2015-C2 Class XB†	Zero Coupon	#(f)	6/15/2057		82,732,000		93,572

See Notes to Financial Statements. 189

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
CSAIL Commercial Mortgage Trust Series 2016-C7 Class XA	0.935%	#(f)	11/15/2049	$	4,093,192	$	92,002
CSMC Trust Series 2020-AFC1 Class A1†	2.24%	#(f)	2/25/2050		279,471		260,186
DBGS Mortgage Trust Series 2021-W52 Class A†	6.503% (1 mo. USD LIBOR + 1.39%	)#	10/15/2036		4,750,000		4,444,019
DBGS Mortgage Trust Series 2021-W52 Class C†	7.408% (1 mo. USD LIBOR + 2.30%	)#	10/15/2036		9,905,000		8,779,701
DBJPM Mortgage Trust Series 2016-C3 Class XA	1.423%	#(f)	8/10/2049		9,055,420		310,208
DBWF Mortgage Trust Series 2015-LCM Class A1†	2.998%		6/10/2034		186,079		173,149
DBWF Mortgage Trust Series 2015-LCM Class XA†	0.423%	#(f)	6/10/2034		372,157		2,572
DBWF Mortgage Trust Series 2016-85T Class XA†	0.014%	#(f)	12/10/2036		61,529,000		104,260
Ellington Financial Mortgage Trust Series 2021-1 Class A1†	0.797%	#(f)	2/25/2066		81,556		68,714
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2013-DN1 Class M2	12.288% (1 mo. USD LIBOR + 7.15%	)#	7/25/2023		1,221,065		1,231,030
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-DNA2 Class M1A†	7.081% (30 day USD SOFR Average + 2.10%	)#	4/25/2043		6,054,168		6,087,025
Federal National Mortgage Association Connecticut Avenue Securities Series 2013-C01 Class M2	10.388% (1 mo. USD LIBOR + 5.25%	)#	10/25/2023		1,817,528		1,844,886
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03 Class 2M1	7.473%		4/25/2043		2,063,076		2,084,010
Freddie Mac STACR REMIC Trust Series 2021-DNA5 Class M2†	6.623% (30 day USD SOFR Average + 1.65%	)#	1/25/2034		3,133,102		3,106,950
Freddie Mac STACR REMIC Trust Series 2021-HQA3 Class M1†	5.823% (30 day USD SOFR Average + 0.85%	)#	9/25/2041		2,383,006		2,309,974
Freddie Mac STACR REMIC Trust Series 2021-HQA4 Class M1†	5.923% (30 day USD SOFR Average + 0.95%	)#	12/25/2041		5,811,484		5,615,801
Freddie Mac STACR REMIC Trust Series 2022-DNA4 Class M1A†	7.173% (30 day USD SOFR Average + 2.20%	)#	5/25/2042		923,632		931,888
Great Wolf Trust Series 2019-WOLF Class B†	6.508% (1 mo. USD Term SOFR + 1.45%	)#	12/15/2036		3,170,000		3,114,445

190 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
GS Mortgage Securities Corp. Trust Series 2017-GPTX Class A†	2.856%		5/10/2034	$	1,159,000	$	916,769
GS Mortgage Securities Corp. Trust Series 2017-GPTX Class B†	3.104%		5/10/2034		1,060,000		736,700
GS Mortgage Securities Corp. Trust Series 2017-SLP Class A†	3.419%		10/10/2032		6,695		6,499
GS Mortgage Securities Corp. Trust Series 2018-RIVR Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	7/15/2035		2,355,942		2,152,817
GS Mortgage Securities Corp. Trust Series 2019-70P Class B†	6.427% (1 mo. USD LIBOR + 1.32%	)#	10/15/2036		1,245,442		1,162,990
GS Mortgage Securities Corp. Trust Series 2021-RENT Class B†	6.248% (1 mo. USD LIBOR + 1.10%	)#	11/21/2035		15,856,709		15,088,324
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class A†	6.258% (1 mo. USD LIBOR + 1.15%	)#	5/15/2026		5,000,000		4,537,120
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class H†	11.008% (1 mo. USD LIBOR + 5.90%	)#	5/15/2026		560,000		431,388
GS Mortgage Securities Trust Series 2015-GS1 Class XA	0.756%	#(f)	11/10/2048		1,011,453		15,595
HMH Trust Series 2017-NSS Class A†	3.062%		7/5/2031		974,000		917,082
HMH Trust Series 2017-NSS Class B†	3.343%		7/5/2031		629,000		597,157
HMH Trust Series 2017-NSS Class C†	3.787%		7/5/2031		469,000		442,912
HMH Trust Series 2017-NSS Class D†	4.723%		7/5/2031		618,000		575,706
HONO Mortgage Trust Series 2021-LULU Class A†	6.257% (1 mo. USD LIBOR + 1.15%	)#	10/15/2036		13,950,000		13,376,535
Hudsons Bay Simon JV Trust Series 2015-HB7 Class B7†	4.666%		8/5/2034		1,200,000		1,011,964
JP Morgan Chase Commercial Mortgage Securities Trust Series 2012-WLDN Class A†	3.905%		5/5/2030		4,430,434		3,485,441
JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C12 Class XA	0.239%	#(f)	7/15/2045		100,731		1
JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-LC11 Class XA	0.959%	#(f)	4/15/2046		113,390		1
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-C24 Class XA	0.847%	#(f)	11/15/2047		2,287,654		15,624
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class A†	3.429%		6/10/2027		5,000,000		1,910,000
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class XA†	0.376%	#(f)	6/10/2027		2,906,000		4,966

See Notes to Financial Statements. 191

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class XB†	0.034%	#(f)	6/10/2027	$	1,292,000	$	437
JP Morgan Chase Commercial Mortgage Securities Trust Series 2015-C29 Class XA	0.556%	#(f)	5/15/2048		1,311,703		11,280
JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-JP4 Class XA	0.578%	#(f)	12/15/2049		3,262,745		50,201
JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-NINE Class A†	2.854%	#(f)	9/6/2038		4,340,000		3,859,202
JP Morgan Chase Commercial Mortgage Securities Trust Series 2017-JP7 Class XA	0.985%	#(f)	9/15/2050		7,457,445		217,223
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-PTC Class A†	6.557% (1 mo. USD LIBOR + 1.45%	)#	4/15/2031		658,000		568,923
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-PTC Class B†	7.257% (1 mo. USD LIBOR + 2.15%	)#	4/15/2031		449,000		381,392
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-PTC Class C†	7.657% (1 mo. USD LIBOR + 2.55%	)#	4/15/2031		332,000		277,278
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-WPT Class XBFX†	0.377%	#(f)	7/5/2033		95,152,000		10,935
JP Morgan Chase Commercial Mortgage Securities Trust Series 2020-MKST Class E†	7.607% (1 mo. USD LIBOR + 2.50%	)#	12/15/2036		5,800,000		4,043,632
JPMorgan Chase Commercial Mortgage Securities Corp. Series 2018-AON Class XA†	0.485%	#(f)	7/5/2031		129,394,000		1,294
JPMorgan Chase Commercial Mortgage Securities Corp. Series 2018-AON Class XB†	0.154%	#(f)	7/5/2031		50,413,000		504
KIND Trust Series 2021-KIND Class A†	6.124% (1 mo. USD Term SOFR + 1.06%	)#	8/15/2038		6,066,158		5,701,776
LSTAR Commercial Mortgage Trust Series 2016-4 Class XA†	1.687%	#(f)	3/10/2049		849,264		15,080
LSTAR Commercial Mortgage Trust Series 2016-4 XB Class XB†	0.655%	#(f)	3/10/2049		19,753,000		287,198
LSTAR Commercial Mortgage Trust Series 2017-5 Class A3†	4.50%		3/10/2050		1,500,766		1,499,028
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-CKSV Class A2†	3.277%		10/15/2030		2,016,324		1,619,774
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C23 Class XA	0.546%	#(f)	7/15/2050		5,291,914		44,471
Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C31 Class XA	1.273%	#(f)	11/15/2049		4,014,445		129,627

192 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Capital I Trust Series 2016-UB11 Class XA	1.439%	#(f)	8/15/2049	$	3,472,883	$	125,592
MSCG Trust Series 2015-ALDR Class A1†	2.612%		6/7/2035		155,398		147,069
New Residential Mortgage Loan Trust Series 2020-NQM1 Class A1†	2.464%	#(f)	1/26/2060		115,583		105,934
One New York Plaza Trust Series 2020-1NYP Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	1/15/2036		5,000,000		4,747,101
One New York Plaza Trust Series 2020-1NYP Class AJ†	6.357% (1 mo. USD LIBOR + 1.25%	)#	1/15/2036		3,250,000		3,026,258
PFP Ltd. Series 2021-7 Class A†	5.957% (1 mo. USD LIBOR + 0.85%	)#	4/14/2038		528,845		522,258
Residential Mortgage Loan Trust Series 2020-1 Class A1†	2.376%	#(f)	1/26/2060		55,796		52,864
Starwood Mortgage Residential Trust Series 2020-1 Class A1†	2.275%	#(f)	2/25/2050		21,181		20,109
Starwood Mortgage Residential Trust Series 2021-2 Class A1†	0.943%	#(f)	5/25/2065		1,302,342		1,162,457
UBS-Barclays Commercial Mortgage Trust Series 2013-C5 Class B†	3.649%	#(f)	3/10/2046		273,254		251,613
UBS-Barclays Commercial Mortgage Trust Series 2013-C6 Class XA†	0.78%	#(f)	4/10/2046		376,359		4
VASA Trust Series 2021-VASA Class B†	6.357% (1 mo. USD LIBOR + 1.25%	)#	7/15/2039		6,000,000		5,515,033
Verus Securitization Trust Series 2020-1 Class A1†	2.417%	(g)	1/25/2060		87,377		82,248
Verus Securitization Trust Series 2020-4 Class A1†	1.502%	(g)	5/25/2065		148,600		136,666
Verus Securitization Trust Series 2020-5 Class A1†	1.218%	(g)	5/25/2065		137,830		125,353
Verus Securitization Trust Series 2021-1 Class A1†	0.815%	#(f)	1/25/2066		290,379		248,618
Verus Securitization Trust Series 2021-5 Class A1†	1.013%	#(f)	9/25/2066		2,886,418		2,350,862
Verus Securitization Trust Series 2021-R2 Class A1†	0.918%	#(f)	2/25/2064		504,115		437,742
Verus Securitization Trust Series 2021-R3 Class A1†	1.02%	#(f)	4/25/2064		732,966		652,510
Wells Fargo Commercial Mortgage Trust Series 2015-C29 Class XA	0.59%	#(f)	6/15/2048		3,127,830		30,467
Wells Fargo Commercial Mortgage Trust Series 2015-C29 Class XB	0.014%	#(f)	6/15/2048		58,000,000		57,698
Wells Fargo Commercial Mortgage Trust Series 2016-BNK1 Class XA	1.714%	#(f)	8/15/2049		1,606,665		64,296
Wells Fargo Commercial Mortgage Trust Series 2016-LC24 Class XB	0.975%	#(f)	10/15/2049		7,056,835		195,378
WF-RBS Commercial Mortgage Trust Series 2013-C13 Class XA†	0.737%	#(f)	5/15/2045		769,094		49

See Notes to Financial Statements. 193

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
WF-RBS Commercial Mortgage Trust Series 2014-C21 Class XB	0.643%	#(f)	8/15/2047	$	15,000,000	$	112,210
Total Non-Agency Commercial Mortgage-Backed Securities (cost $233,469,614)							209,937,306
Total Long-Term Investments (cost $1,662,081,706)							1,582,078,353
SHORT-TERM INVESTMENTS 1.57%
U.S. TREASURY OBLIGATIONS 1.01%
U.S. Treasury Bills (Cost $17,296,052)	Zero Coupon		11/24/2023		17,745,000		17,293,868
REPURCHASE AGREEMENTS 0.56%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $4,258,700 of U.S. Treasury Note at 4.000% due 2/15/2026; value: $4,238,904; proceeds: $4,156,027 (cost 4,155,727)					4,155,727		4,155,727
Repurchase Agreement dated 5/31/2023, 5.100% due 6/1/2023 with TD Securities USA LLC collateralized by $5,728,000 of U.S. Treasury Bond at 3.875% due 5/15/2043; value: $5,615,074; proceeds: $5,500,451 (cost $5,499,672)					5,499,672		5,499,672
Total Repurchase Agreements (cost $9,655,399)							9,655,399
Total Short-Term Investments (cost $26,951,451)							26,949,267
Total Investments in Securities 93.80% (cost $1,689,033,157)							1,609,027,620
Other Assets and Liabilities – Net(h) 6.20%							106,353,961
Net Assets 100.00%						$	1,715,381,581

CMT	Constant Maturity Rate.
IO	Interest Only.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $962,761,622, which represents 56.13% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
*	Non-income producing security.
(a)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
(b)	Foreign security traded in U.S. dollars.
(c)	Defaulted (non-income producing security).
(d)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.

194 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

(e)	Interest Rate to be determined.
(f)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(g)	Step Bond – Security with a predetermined schedule of interest rate changes.
(h)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on futures contracts and swap contracts as follows:

Centrally Cleared Interest Rate Swap Contracts at May 31, 2023:

Central Clearingparty	Periodic Payments to be Made By The Fund (Quarterly)	Periodic Payments to be Received By The Fund (Quarterly)	Termination Date	Notional Amount		Value/Unrealized Appreciation
Bank of America(1)	0.173%	3-Month USD SOFR Index	10/21/2025	$	165,637		$	14,650
Central Clearingparty	Periodic Payments to be Made By The Fund (Quarterly)	Periodic Payments to be Received By The Fund (Quarterly)	Termination Date	Notional Amount		Value/Unrealized Depreciation
Bank of America(1) FedFunds	3-Month USD Index	0.184%	10/21/2025	$	165,637		$	(14,658	)

SOFR	Secured Overnight Financing Rate.
(1)	Central clearinghouse: Chicago Mercantile Exchange (CME).

Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at May 31, 2023:

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized  Appreciation
Bank of America	0.760%	CPI Urban Consumer NSA	3/31/2025	$	15,000,000	$	2,423,359
Bank of America	0.903%	CPI Urban Consumer NSA	4/7/2025		15,000,000		2,325,039
Bank of America	1.756%	CPI Urban Consumer NSA	11/15/2024		10,000,000		1,168,348
Bank of America	1.888%	CPI Urban Consumer NSA	10/2/2029		5,000,000		702,257
Bank of America	1.935%	CPI Urban Consumer NSA	9/1/2029		5,000,000		704,253
Bank of America	1.953%	CPI Urban Consumer NSA	10/15/2029		7,000,000		939,198
Bank of America	1.964%	CPI Urban Consumer NSA	11/27/2029		5,000,000		660,499
Bank of America	1.976%	CPI Urban Consumer NSA	12/2/2028		10,000,000		1,260,714
Bank of America	1.980%	CPI Urban Consumer NSA	10/14/2029		5,000,000		659,727
Bank of America	2.085%	CPI Urban Consumer NSA	12/10/2028		10,000,000		1,177,568
Bank of America	2.107%	CPI Urban Consumer NSA	2/21/2031		5,000,000		594,217
Bank of America	2.112%	CPI Urban Consumer NSA	12/8/2029		5,000,000		596,688
Bank of America	2.113%	CPI Urban Consumer NSA	12/29/2027		5,000,000		559,824

See Notes to Financial Statements. 195

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Appreciation
Bank of America	2.119%	CPI Urban Consumer NSA	2/11/2031	$	15,000,000	$	1,746,064
Bank of America	2.255%	CPI Urban Consumer NSA	1/27/2024		50,000,000		192,168
Bank of America	2.269%	CPI Urban Consumer NSA	10/30/2030		10,000,000		965,856
Bank of America	2.285%	CPI Urban Consumer NSA	5/31/2028		10,000,000		898,696
Bank of America	2.295%	CPI Urban Consumer NSA	1/15/2046		5,000,000		530,625
Bank of America	2.310%	CPI Urban Consumer NSA	6/1/2028		10,000,000		877,279
Bank of America	2.335%	CPI Urban Consumer NSA	11/17/2036		8,000,000		764,185
Bank of America	2.335%	CPI Urban Consumer NSA	11/21/2036		10,000,000		953,772
Bank of America	2.341%	CPI Urban Consumer NSA	8/27/2028		10,000,000		823,670
Bank of America	2.343%	CPI Urban Consumer NSA	9/11/2028		10,000,000		825,359
Bank of America	2.344%	CPI Urban Consumer NSA	3/15/2029		5,000,000		422,001
Bank of America	2.345%	CPI Urban Consumer NSA	8/14/2028		10,000,000		817,531
Bank of America	2.353%	CPI Urban Consumer NSA	6/6/2028		10,000,000		832,012
Bank of America	2.365%	CPI Urban Consumer NSA	1/30/2038		10,000,000		875,070
Bank of America	2.365%	CPI Urban Consumer NSA	9/29/2052		31,000,000		469,805
Bank of America	2.370%	CPI Urban Consumer NSA	4/18/2030		25,000,000		2,059,708
Bank of America	2.370%	CPI Urban Consumer NSA	2/28/2038		5,000,000		433,383
Bank of America	2.375%	CPI Urban Consumer NSA	8/9/2028		10,000,000		786,651
Bank of America	2.379%	CPI Urban Consumer NSA	9/21/2028		15,000,000		1,187,786
Bank of America	2.380%	CPI Urban Consumer NSA	7/6/2028		10,000,000		793,981
Bank of America	2.384%	CPI Urban Consumer NSA	10/1/2028		10,000,000		790,940
Bank of America	2.390%	CPI Urban Consumer NSA	8/3/2028		10,000,000		770,023
Bank of America	2.393%	CPI Urban Consumer NSA	5/11/2028		10,000,000		776,392
Bank of America	2.396%	CPI Urban Consumer NSA	10/9/2028		10,000,000		781,479
Bank of America	2.400%	CPI Urban Consumer NSA	4/26/2030		10,000,000		784,662
Bank of America	2.408%	CPI Urban Consumer NSA	5/21/2028		5,000,000		384,944

196 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be  Received By The Fund at Termination Date	Termination Date	Notional  Amount		Value/Unrealized Appreciation
Bank of America	2.410%	CPI Urban Consumer NSA	3/15/2031	$	5,000,000		$	460,354
Bank of America	2.425%	CPI Urban Consumer NSA	3/16/2031		20,000,000			1,811,123
Bank of America	2.437%	CPI Urban Consumer NSA	9/7/2037		10,000,000			631,160
Bank of America	2.468%	CPI Urban Consumer NSA	4/28/2031		10,000,000			845,754
Bank of America	2.477%	CPI Urban Consumer NSA	6/11/2036		10,000,000			754,860
Bank of America	2.481%	CPI Urban Consumer NSA	8/12/2036		15,000,000			950,987
Bank of America	2.484%	CPI Urban Consumer NSA	6/25/2030		20,000,000			1,528,340
Bank of America	2.493%	CPI Urban Consumer NSA	6/28/2030		25,000,000			1,879,262
Bank of America	2.496%	CPI Urban Consumer NSA	3/31/2031		15,000,000			1,247,385
Bank of America	2.510%	CPI Urban Consumer NSA	6/30/2030		20,000,000			1,464,360
Bank of America	2.522%	CPI Urban Consumer NSA	5/28/2036		15,000,000			1,070,207
Bank of America	2.559%	CPI Urban Consumer NSA	6/1/2030		20,000,000			1,483,158
Bank of America	2.585%	CPI Urban Consumer NSA	5/12/2036		15,000,000			959,502
Bank of America	2.593%	CPI Urban Consumer NSA	5/17/2036		10,000,000			626,944
Bank of America	3.150%	CPI Urban Consumer NSA	3/2/2027		80,000,000			414,674
Total Unrealized Appreciation on Centrally Cleared CPI Swap Contracts							$	51,443,803

See Notes to Financial Statements. 197

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at May 31, 2023:

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Depreciation
Bank of America	2.500%	CPI Urban Consumer NSA	10/4/2025	$	50,000,000		$	(47,042	)
Bank of America	2.578%	CPI Urban Consumer NSA	10/28/2052		10,000,000			(355,866	)
Bank of America	2.638%	CPI Urban Consumer NSA	11/15/2051		35,000,000			(143,408	)(1)
Bank of America	2.665%	CPI Urban Consumer NSA	3/9/2052		27,000,000			(752,962	)(2)
Bank of America	2.700%	CPI Urban Consumer NSA	10/15/2024		70,000,000			(175,051	)
Bank of America	2.754%	CPI Urban Consumer NSA	4/14/2052		20,000,000			(1,128,888	)
Bank of America	2.788%	CPI Urban Consumer NSA	6/8/2026		5,000,000			(286,006	)
Bank of America	2.850%	CPI Urban Consumer NSA	10/28/2027		30,000,000			(507,521	)
Total Unrealized Depreciation on Centrally Cleared CPI Swap Contracts							$	(3,396,744	)

(1)	Unrealized depreciation on Centrally Cleared CPI Swap Contract is $195,620, which includes upfront payment of $52,212. Upfront payments paid (received) by Central Clearing Party are presented net of amortization.
(2)	Unrealized depreciation on Centrally Cleared CPI Swap Contract is $1,544,736 which includes upfront payment of $791,774. Upfront payments paid (received) by Central Clearing Party are presented net of amortization.

Consumer Price Index (“CPI”) OTC Swap Contracts at May 31, 2023:

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Appreciation
Bank of America	1.676%	CPI Urban Consumer NSA	8/4/2026	$	15,000,000	$	2,305,275
Bank of America	1.747%	CPI Urban Consumer NSA	8/22/2026		20,000,000		2,903,801
Bank of America	2.080%	CPI Urban Consumer NSA	4/22/2025		10,000,000		1,020,852
Bank of America	2.100%	CPI Urban Consumer NSA	4/26/2025		10,000,000		1,009,278
Bank of America	2.144%	CPI Urban Consumer NSA	7/24/2029		10,000,000		1,151,730
Bank of America	2.148%	CPI Urban Consumer NSA	7/31/2029		10,000,000		1,149,969
Bank of America	2.213%	CPI Urban Consumer NSA	10/25/2032		5,000,000		580,225
Bank of America	2.275%	CPI Urban Consumer NSA	1/6/2026		20,000,000		1,779,493
Bank of America	2.298%	CPI Urban Consumer NSA	4/5/2029		5,000,000		445,896
Bank of America	2.301%	CPI Urban Consumer NSA	3/28/2029		5,000,000		444,483
Bank of America	2.348%	CPI Urban Consumer NSA	3/10/2032		5,000,000		443,407

198 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Appreciation
Bank of America	2.360%	CPI Urban Consumer NSA	2/8/2029	$	10,000,000	$	839,813
Bank of America	2.360%	CPI Urban Consumer NSA	2/15/2029		10,000,000		837,560
Bank of America	2.363%	CPI Urban Consumer NSA	6/21/2027		20,000,000		1,611,193
Bank of America	2.363%	CPI Urban Consumer NSA	2/1/2038		5,000,000		440,519
Bank of America	2.370%	CPI Urban Consumer NSA	1/26/2029		5,000,000		413,732
Bank of America	2.370%	CPI Urban Consumer NSA	2/27/2029		10,000,000		820,958
Bank of America	2.376%	CPI Urban Consumer NSA	2/26/2038		5,000,000		427,236
Bank of America	2.380%	CPI Urban Consumer NSA	1/13/2029		10,000,000		808,201
Bank of America	2.380%	CPI Urban Consumer NSA	1/18/2029		10,000,000		812,606
Bank of America	2.398%	CPI Urban Consumer NSA	1/24/2029		10,000,000		791,743
Bank of America	2.398%	CPI Urban Consumer NSA	2/12/2033		5,000,000		415,357
Bank of America	2.590%	CPI Urban Consumer NSA	6/26/2023		40,000,000		816,345
Barclays Bank plc	1.874%	CPI Urban Consumer NSA	4/11/2026		10,000,000		1,350,589
Barclays Bank plc	1.944%	CPI Urban Consumer NSA	3/22/2041		5,000,000		909,416
Barclays Bank plc	1.960%	CPI Urban Consumer NSA	2/5/2025		10,000,000		1,002,965
Barclays Bank plc	2.128%	CPI Urban Consumer NSA	6/22/2025		10,000,000		958,321
Barclays Bank plc	2.158%	CPI Urban Consumer NSA	12/2/2024		10,000,000		1,000,994
Barclays Bank plc	2.159%	CPI Urban Consumer NSA	11/25/2024		15,000,000		1,505,804
Barclays Bank plc	2.205%	CPI Urban Consumer NSA	12/9/2024		15,000,000		1,434,981
Barclays Bank plc	2.207%	CPI Urban Consumer NSA	1/11/2025		20,000,000		1,884,196
Barclays Bank plc	2.223%	CPI Urban Consumer NSA	12/30/2023		30,000,000		2,893,739
Barclays Bank plc	2.228%	CPI Urban Consumer NSA	12/5/2024		15,000,000		1,408,294
Barclays Bank plc	2.354%	CPI Urban Consumer NSA	12/23/2031		10,000,000		888,131
Barclays Bank plc	2.393%	CPI Urban Consumer NSA	12/13/2031		5,000,000		415,304
Barclays Bank plc	2.410%	CPI Urban Consumer NSA	2/1/2032		10,000,000		802,954
Deutsche Bank AG	2.465%	CPI Urban Consumer NSA	11/30/2031		5,000,000		30,387

See Notes to Financial Statements. 199

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Appreciation
Deutsche Bank AG	2.518%	CPI Urban Consumer NSA	4/17/2026	$	15,000,000		$	311,450
Goldman Sachs	1.568%	CPI Urban Consumer NSA	3/2/2024		8,000,000			1,232,203
Goldman Sachs	1.649%	CPI Urban Consumer NSA	3/4/2024		5,000,000			734,878
Goldman Sachs	2.230%	CPI Urban Consumer NSA	12/14/2024		10,000,000			931,416
Goldman Sachs	2.317%	CPI Urban Consumer NSA	3/16/2029		5,000,000			439,015
Goldman Sachs	2.350%	CPI Urban Consumer NSA	12/16/2036		10,000,000			913,631
Goldman Sachs	2.370%	CPI Urban Consumer NSA	5/16/2028		10,000,000			804,605
Goldman Sachs	2.372%	CPI Urban Consumer NSA	5/3/2030		5,000,000			410,288
Goldman Sachs	2.378%	CPI Urban Consumer NSA	4/17/2030		5,000,000			407,746
Goldman Sachs	2.380%	CPI Urban Consumer NSA	12/8/2031		10,000,000			853,501
Goldman Sachs	2.390%	CPI Urban Consumer NSA	2/7/2032		5,000,000			415,248
J.P. Morgan	1.950%	CPI Urban Consumer NSA	10/14/2026		10,000,000			1,267,221
J.P. Morgan	2.074%	CPI Urban Consumer NSA	11/21/2023		35,000,000			2,840,449
Unrealized Appreciation on CPI OTC Swap Contracts							$	50,317,398

Consumer Price Index (“CPI”) OTC Swap Contracts at May 31, 2023:

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Depreciation
Bank of America	2.825%	CPI Urban Consumer NSA	7/22/2023	$	5,000,000	$	(249,112	)
Bank of America	CPI Urban Consumer NSA	1.645%	10/1/2025		15,000,000		(2,155,917	)
Bank of America	CPI Urban Consumer NSA	1.813%	3/31/2026		5,000,000		(699,869	)
Barclays Bank plc	2.945%	CPI Urban Consumer NSA	3/5/2038		15,000,000		(1,810,664	)
Credit Suisse	2.864%	CPI Urban Consumer NSA	3/22/2032		8,000,000		(694,521	)
Deutsche Bank AG	2.505%	CPI Urban Consumer NSA	12/7/2031		5,000,000		(15,976	)
Deutsche Bank AG	2.750%	CPI Urban Consumer NSA	3/30/2032		6,000,000		(351,326	)

200 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

INFLATION FOCUSED FUND May 31, 2023

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Depreciation
Deutsche Bank AG	3.010%	CPI Urban Consumer NSA	2/15/2033	$	15,000,000		$	(1,692,192	)
Deutsche Bank AG	CPI Urban Consumer NSA	1.618%	8/25/2023		15,000,000			(2,102,102	)
Goldman Sachs	2.945%	CPI Urban Consumer NSA	1/16/2038		15,000,000			(1,906,107	)
Goldman Sachs	2.980%	CPI Urban Consumer NSA	2/7/2033		10,000,000			(1,061,001	)
Goldman Sachs	CPI Urban Consumer NSA	2.063%	12/8/2024		15,000,000			(1,207,050	)
J.P. Morgan	2.815%	CPI Urban Consumer NSA	4/5/2032		5,000,000			(373,060	)
J.P. Morgan	2.955%	CPI Urban Consumer NSA	7/15/2026		5,000,000			(468,551	)
J.P. Morgan	CPI Urban Consumer NSA	1.645%	8/27/2023		5,000,000			(689,307	)
Unrealized Depreciation on CPI OTC Swap Contracts							$	(15,476,755	)

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 2-Year Treasury Note	September 2023	3,851	Long	$	792,417,932		$	792,644,113		$	226,181
U.S. 5-Year Treasury Note	September 2023	293	Short		(31,985,135	)		(31,959,890	)		25,245
U.S. 10-Year Ultra Treasury Bond	September 2023	210	Long		25,183,898			25,295,156			111,258
U.S. Ultra Treasury Bond	September 2023	1,002	Long		135,143,740			137,148,750			2,005,010
Total Unrealized Appreciation on Futures Contracts										$	2,367,694

See Notes to Financial Statements. 201

Schedule of Investments (unaudited)(concluded)

INFLATION FOCUSED FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1		Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities
Other	$	–	$	273,382,054		$	3,410,633	$	276,792,687
Remaining Industries		–		151,499,074			–		151,499,074
Common Stocks		108		–			–		108
Corporate Bonds		–		897,353,541			–		897,353,541
Floating Rate Loans		–		44,467,704			–		44,467,704
Government Sponsored Enterprises Collateralized Mortgage Obligations		–		309,259			2,729		311,988
Government Sponsored Enterprises Pass-Throughs		–		1,397,127			–		1,397,127
Municipal Bonds		–		318,818			–		318,818
Non-Agency Commercial Mortgage-Backed Securities		–		209,937,306			–		209,937,306
Short-Term Investments
U.S. Treasury Obligations		–		17,293,868			–		17,293,868
Repurchase Agreements		–		9,655,399			–		9,655,399
Total	$	108	$	1,605,614,150		$	3,413,362	$	1,609,027,620
Other Financial Instruments
Centrally Cleared Interest Rate Swap Contracts
Assets	$	–	$	14,650		$	–	$	14,650
Liabilities		–		(14,658	)		–		(14,658	)
Centrally Cleared CPI Swap Contracts
Assets		–		51,443,803			–		51,443,803
Liabilities		–		(3,396,744	)		–		(3,396,744	)
OTC CPI Swap Contracts
Assets		–		50,317,398			–		50,317,398
Liabilities		–		(15,476,755	)		–		(15,476,755	)
Futures Contracts
Assets		2,367,694		–			–		2,367,694
Liabilities		–		–			–		–
Total	$	2,367,694	$	82,887,694		$	–	$	85,255,388

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

202 See Notes to Financial Statements.

Schedule of Investments (unaudited)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 95.90%
ASSET-BACKED SECURITIES 17.14%
Automobiles 6.78%
Avid Automobile Receivables Trust Series 2021-1 Class C†	1.55%	5/15/2026	$	830,000	$	804,308
Avis Budget Rental Car Funding AESOP LLC Series 2018-2A Class A†	4.00%	3/20/2025		700,000		692,126
CarMax Auto Owner Trust Series 2020-1 Class D	2.64%	7/15/2026		125,000		121,474
CarMax Auto Owner Trust Series 2023-1 Class A3	4.75%	10/15/2027		430,000		427,867
CarMax Auto Owner Trust Series 2023-1 Class C	5.19%	1/16/2029		1,450,000		1,440,203
Carvana Auto Receivables Trust Series 2020-P1 Class C	1.32%	11/9/2026		400,000		359,016
CPS Auto Receivables Trust Series 2022-A Class A†	0.98%	4/16/2029		215,781		213,914
Credit Acceptance Auto Loan Trust Series 2021-3A Class A†	1.00%	5/15/2030		825,000		802,821
Drive Auto Receivables Trust Series 2020-2 Class C	2.28%	8/17/2026		200,687		199,752
First Investors Auto Owner Trust Series 2021-2A Class A†	0.48%	3/15/2027		314,850		305,228
Flagship Credit Auto Trust Series 2022-3 Class A2†	4.06%	10/15/2025		409,276		406,015
Flagship Credit Auto Trust Series 2022-3 Class A3†	4.55%	4/15/2027		1,400,000		1,377,661
Flagship Credit Auto Trust Series 2022-4 Class A2†	6.15%	9/15/2026		478,453		478,249
Flagship Credit Auto Trust Series 2022-4 Class A3†	6.32%	6/15/2027		605,000		612,048
Flagship Credit Auto Trust Series 2023-1 Class A3†	5.01%	8/16/2027		975,000		964,464
Ford Credit Auto Lease Trust Series 2023-A Class A3	4.94%	3/15/2026		1,500,000		1,490,839
GLS Auto Receivables Issuer Trust Series 2021-1A Class C†	1.20%	1/15/2027		421,445		415,603
GLS Auto Receivables Issuer Trust Series 2021-3A Class B†	0.78%	11/17/2025		371,398		366,336
GLS Auto Receivables Issuer Trust Series 2021-3A Class C†	1.11%	9/15/2026		460,000		434,993
GM Financial Automobile Leasing Trust Series 2023-2 Class A3	5.05%	7/20/2026		910,000		907,760
GM Financial Automobile Leasing Trust Series 2023-2 Class B	5.54%	5/20/2027		1,010,000		1,006,933
Hertz Vehicle Financing III LP Series 2021-2A Class A†	1.68%	12/27/2027		620,000		546,562
Hertz Vehicle Financing LLC Series 2021-1A Class A†	1.21%	12/26/2025		265,000		247,460
OneMain Direct Auto Receivables Trust Series 2019-1 Class A†	3.63%	9/14/2027		584,000		564,194

See Notes to Financial Statements. 203

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
OneMain Direct Auto Receivables Trust Series 2019-1A Class C†	4.19%		11/14/2028	$	753,000	$	710,404
OneMain Direct Auto Receivables Trust Series 2021-1A Class A†	0.87%		7/14/2028		340,000		319,655
OneMain Direct Auto Receivables Trust Series 2021-1A Class B†	1.26%		7/14/2028		317,000		285,689
PenFed Auto Receivables Owner Trust Series 2022-A Class A3†	3.96%		4/15/2026		1,275,000		1,252,270
Prestige Auto Receivables Trust Series 2022-1A Class B†	6.55%		7/17/2028		1,215,000		1,223,414
Santander Consumer Auto Receivables Trust Series 2020-BA Class C†	1.29%		4/15/2026		681,000		661,621
Santander Consumer Auto Receivables Trust Series 2020-BA Class D†	2.14%		12/15/2026		1,155,000		1,106,435
Santander Drive Auto Receivables Trust Series 2022-5 Class B	4.43%		3/15/2027		1,085,000		1,063,706
Santander Drive Auto Receivables Trust Series 2022-6 Class B	4.72%		6/15/2027		1,505,000		1,477,061
Westlake Automobile Receivables Trust Series 2023-1A Class A3†	5.21%		1/18/2028		1,260,000		1,252,377
World Omni Automobile Lease Securitization Trust Series 2022-A Class A3	3.21%		2/18/2025		400,000		391,844
Total							24,930,302
Credit Card 1.53%
American Express Credit Account Master Trust Series 2022-2 Class A	3.39%		5/15/2027		785,000		763,528
BA Credit Card Trust Series 2022-A2 Class A2	5.00%		4/15/2028		765,000		769,421
Capital One Multi-Asset Execution Trust Series 2005-B3 Class B3	5.81% (3 mo. USD LIBOR + 0.55%	)#	5/15/2028		1,225,000		1,207,888
Continental Finance Credit Card ABS Master Trust Series 2020-1A Class A†	2.24%		12/15/2028		600,000		572,349
Discover Card Execution Note Trust Series 2022-A4 Class A	5.03%		10/15/2027		565,000		567,943
Master Credit Card Trust Series 2021-1A Class B†	0.79%		11/21/2025		1,200,000		1,137,728
Newday Funding Master Issuer PLC Series 2021-1A Class A2†	6.166% (SOFR + 1.10%	)#	3/15/2029		600,000		597,791
Total							5,616,648

204 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other 8.28%
ACRES Commercial Realty Ltd. Series 2021-FL2 Class A†	6.508% (1 mo. USD LIBOR + 1.40%	)#	1/15/2037	$	670,000	$	650,752
Affirm Asset Securitization Trust Series 2022-X1 Class A†	1.75%		2/15/2027		243,238		236,850
Affirm Asset Securitization Trust Series 2023-A Class 1A†	6.61%		1/18/2028		925,000		922,968
AMMC CLO Ltd. Series 2020-23A Class A1R†	6.30% (3 mo. USD LIBOR + 1.04%	)#	10/17/2031		750,000		740,694
Amur Equipment Finance Receivables IX LLC Series 2021-1A Class D†	2.30%		11/22/2027		675,000		623,761
Aqua Finance Trust Series 2021-A Class A†	1.54%		7/17/2046		194,617		173,415
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL3 Class A†	6.177% (1 mo. USD LIBOR + 1.07%	)#	8/15/2034		460,000		445,664
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL4 Class A†	6.457% (1 mo. USD LIBOR + 1.35%	)#	11/15/2036		560,000		548,349
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL1 Class A†	6.322% (30 day USD SOFR Average + 1.45%	)#	1/15/2037		1,000,000		982,048
Bain Capital Credit CLO Series 2018-2A Class A1†	6.345% (3 mo. USD LIBOR + 1.08%	)#	7/19/2031		750,000		743,271
BDS Ltd. Series 2020-FL5 Class A†	6.332% (1 mo. USD Term SOFR + 1.26%	)#	2/16/2037		110,417		109,262
BDS Ltd. Series 2021-FL7 Class A†	6.181% (1 mo. USD LIBOR + 1.07%	)#	6/16/2036		500,000		487,148
BlueMountain Fuji U.S. CLO I Ltd. Series 2017-1A Class A1R†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2029		238,274		235,049
BSPRT Issuer Ltd. Series 2021-FL7 Class A†	6.427% (1 mo. USD LIBOR + 1.32%	)#	12/15/2038		380,000		370,493
Carlyle U.S. CLO Ltd. Series 2017-1A Class A1AR†	6.33% (3 mo. USD LIBOR + 1.08%	)#	4/20/2031		750,000		738,479
Carlyle U.S. CLO Ltd. Series 2017-3A Class A1AR†	6.15% (3 mo. USD LIBOR + 0.90%	)#	7/20/2029		226,630		224,098
Dell Equipment Finance Trust Series 2021-2 Class B†	0.81%		12/22/2026		460,000		438,925
Dell Equipment Finance Trust Series 2021-2 Class C†	0.94%		12/22/2026		460,000		439,015
Dell Equipment Finance Trust Series 2021-2 Class D†	1.21%		6/22/2027		460,000		438,434
Dryden 53 CLO Ltd. Series 2017-53A Class A†	6.38% (3 mo. USD LIBOR + 1.12%	)#	1/15/2031		390,716		387,190

See Notes to Financial Statements. 205

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Dryden XXVI Senior Loan Fund Series 2013-26A Class AR†	6.16% (3 mo. USD LIBOR + 0.90%	)#	4/15/2029	$	225,910	$	223,480
Galaxy XIX CLO Ltd. Series 2015-19A Class A1RR†	6.223% (3 mo. USD LIBOR + 0.95%	)#	7/24/2030		164,030		161,981
Greystone CRE Notes Ltd. Series 2021-FL3 Class A†	6.194% (1 mo. USD Term SOFR + 1.13%	)#	7/15/2039		460,000		447,459
HGI CRE CLO Ltd. Series 2021-FL1 Class A†	6.155% (1 mo. USD LIBOR + 1.05%	)#	6/16/2036		456,713		446,603
HGI CRE CLO Ltd. Series 2021-FL1 Class B†	6.705% (1 mo. USD LIBOR + 1.60%	)#	6/16/2036		100,000		94,646
KKR CLO Ltd. Series 29A Class A†	6.46% (3 mo. USD LIBOR + 1.20%	)#	1/15/2032		250,000		247,685
KREF Ltd. Series 2021-FL2 Class A†	6.178% (1 mo. USD LIBOR + 1.07%	)#	2/15/2039		360,000		347,414
KREF Ltd. Series 2021-FL2 Class AS†	6.408% (1 mo. USD LIBOR + 1.30%	)#	2/15/2039		360,000		341,100
LCM XXII Ltd. Series 22A Class A1R†	6.41% (3 mo. USD LIBOR + 1.16%	)#	10/20/2028		173,525		172,284
Lendmark Funding Trust Series 2022-1A Class B†	5.62%		7/20/2032		715,000		699,800
LFT CRE Ltd. Series 2021-FL1 Class B†	6.857% (1 mo. USD LIBOR + 1.75%	)#	6/15/2039		730,000		707,319	(a)
LMREC LLC Series 2021-CRE4 Class A†	6.177% (1 mo. USD LIBOR + 1.05%	)#	4/22/2037		200,888		196,804
LoanCore Issuer Ltd. Series 2019-CRE2 Class C†	7.107% (1 mo. USD LIBOR + 2.00%	)#	5/15/2036		630,000		575,281	(a)
LoanCore Issuer Ltd. Series 2022-CRE7 Class A†	6.456% (30 day USD SOFR Average + 1.55%	)#	1/17/2037		560,000		550,521
Madison Park Funding LIX Ltd. Series 2021-59A Class A†	6.402% (3 mo. USD LIBOR + 1.14%	)#	1/18/2034		1,250,000		1,234,672
Madison Park Funding XI Ltd. Series 2013-11A Class AR2†	6.173% (3 mo. USD LIBOR + 0.90%	)#	7/23/2029		233,904		231,401
Magnetite Xxix Ltd. Series 2021-29A Class A†	6.25% (3 mo. USD LIBOR + 0.99%	)#	1/15/2034		250,000		246,506
Mariner Finance Issuance Trust Series 2022-AA Class A†	6.45%		10/20/2037		690,000		693,215
Marlette Funding Trust Series 2020-2A Class D†	4.65%		9/16/2030		342,067		335,635
Marlette Funding Trust Series 2021-1A Class B†	1.00%		6/16/2031		137,458		136,958
ME Funding LLC Series 2019-1 Class A2†	6.448%		7/30/2049		1,124,225		1,098,509

206 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
MF1 Ltd. Series 2021-FL7 Class A†	6.191% (1 mo. USD LIBOR + 1.08%	)#	10/16/2036	$	240,000	$	233,400
Mountain View CLO LLC Series 2017-1A Class AR†	6.35% (3 mo. USD LIBOR + 1.09%	)#	10/16/2029		338,067		335,681
MVW Owner Trust Series 2017-1A Class A†	2.42%		12/20/2034		121,877		120,657
Newark BSL CLO 1 Ltd. Series 2016-1A Class A1R†	6.44% (3 mo. USD Term SOFR + 1.36%	)#	12/21/2029		461,009		457,396
OCP CLO Ltd. Series 2020-18A Class AR†	6.34% (3 mo. USD LIBOR + 1.09%	)#	7/20/2032		900,000		886,506
Octagon Investment Partners 30 Ltd. Series 2017-1A Class A1R†	6.25% (3 mo. USD LIBOR + 1.00%	)#	3/17/2030		719,560		711,285
Octagon Investment Partners XIV Ltd. Series 2012-1A Class AARR†	6.21% (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		233,854		231,988
OneMain Financial Issuance Trust Series 2018-2A Class A†	3.57%		3/14/2033		262,282		258,135
OneMain Financial Issuance Trust Series 2020-2A Class C†	2.76%		9/14/2035		690,000		606,878
Pagaya AI Debt Selection Trust Series 2021-1 Class A†	1.18%		11/15/2027		29,778		29,653
Pagaya AI Debt Trust Series 2022-1 Class A†	2.03%		10/15/2029		348,545		338,713
Post Road Equipment Finance Series 2021-1 Class A2†	4.88%		11/15/2028		848,000		825,700
Post Road Equipment Finance Series 2021-1 Class B†	1.21%		2/16/2027		800,000		781,608
Rad CLO 2 Ltd. Series 2018-2A Class AR†	6.34% (3 mo. USD LIBOR + 1.08%	)#	10/15/2031		270,000		267,053
RAD CLO 6 Ltd. Series 2019-6A Class A1†	6.63% (3 mo. USD LIBOR + 1.38%	)#	1/20/2033		1,308,000		1,293,874
Regatta Funding LP Series 2013-2A Class A1R3†	6.11% (3 mo. USD LIBOR + 0.85%	)#	1/15/2029		191,761		190,510
RR 3 Ltd. Series 2018-3A Class A1R2†	6.35% (3 mo. USD LIBOR + 1.09%	)#	1/15/2030		642,850		638,177
SCF Equipment Leasing LLC Series 2019-2A Class B†	2.76%		8/20/2026		500,000		485,060
SCF Equipment Leasing LLC Series 2020-1A Class B†	2.02%		3/20/2028		875,000		839,070
SCF Equipment Leasing LLC Series 2021-1A Class B†	1.37%		8/20/2029		1,000,000		923,744
TICP CLO XIV Ltd. Series 2019-14A Class A1R†	6.33% (3 mo. USD LIBOR + 1.08%	)#	10/20/2032		400,000		392,328
Upstart Securitization Trust Series 2021-2 Class A†	0.91%		6/20/2031		61,184		60,872
Verizon Master Trust Series 2022-7 Class A1A	5.23%		11/22/2027		405,000		404,617
Total							30,438,043

See Notes to Financial Statements. 207

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Rec Vehicle Loan 0.40%
Octane Receivables Trust Series 2021-1A Class A†	0.93%		3/22/2027	$	231,636	$	224,619
Octane Receivables Trust Series 2022-1A Class A2†	4.18%		3/20/2028		226,300		222,235
Octane Receivables Trust Series 2022-2A Class B†	5.85%		7/20/2028		1,036,000		1,027,501
Total							1,474,355
Student Loan 0.15%
Navient Private Education Refi Loan Trust Series 2020-FA Class A†	1.22%		7/15/2069		206,732		185,026
Navient Private Education Refi Loan Trust Series 2022-A Class A†	2.23%		7/15/2070		398,735		350,738
Towd Point Asset Trust Series 2018-SL1 Class A†	5.738% (1 mo. USD LIBOR + 0.60%	)#	1/25/2046		10,656		10,596
Total							546,360
Total Asset-Backed Securities (cost $64,557,852)							63,005,708
CORPORATE BONDS 61.11%
Aerospace/Defense 0.84%
Boeing Co.	1.433%		2/4/2024		1,825,000		1,770,671
Hexcel Corp.	4.95%		8/15/2025		1,345,000		1,326,603
Total							3,097,274
Agriculture 1.77%
BAT Capital Corp.	2.789%		9/6/2024		890,000		857,847
Imperial Brands Finance PLC (United Kingdom)†(b)	3.125%		7/26/2024		600,000		579,391
Philip Morris International, Inc.	4.875%		2/13/2026		247,000		246,582
Philip Morris International, Inc.	5.00%		11/17/2025		267,000		267,541
Philip Morris International, Inc.	5.125%		11/15/2024		822,000		822,681
Reynolds American, Inc.	4.45%		6/12/2025		2,000,000		1,957,482
Viterra Finance BV (Netherlands)†(b)	2.00%		4/21/2026		1,800,000		1,601,697
Viterra Finance BV (Netherlands)†(b)	4.90%		4/21/2027		200,000		191,829
Total							6,525,050
Apparel 0.05%
PVH Corp.	7.75%		11/15/2023		186,000		188,073
Auto Manufacturers 1.67%
Daimler Truck Finance North America LLC†	5.15%		1/16/2026		150,000		150,118
General Motors Financial Co., Inc.	5.40%		4/6/2026		218,000		217,100
General Motors Financial Co., Inc.	5.65% (SOFR + 0.62%	)#	10/15/2024		606,000		601,459

208 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Auto Manufacturers (continued)
General Motors Financial Co., Inc.	6.291% (SOFR + 1.20%	)#	11/17/2023	$	666,000	$	666,833
Hyundai Capital America†	1.00%		9/17/2024		400,000		376,779
Hyundai Capital America†	5.50%		3/30/2026		335,000		335,158
Nissan Motor Acceptance Co. LLC†	1.125%		9/16/2024		1,500,000		1,393,785
Nissan Motor Acceptance Co. LLC†	3.875%		9/21/2023		2,400,000		2,380,865
Total							6,122,097
Banks 20.38%
AIB Group PLC (Ireland)†(b)	4.263% (3 mo. USD LIBOR + 1.87%	)#	4/10/2025		3,000,000		2,930,825
Australia & New Zealand Banking Group Ltd. (Australia)†(b)	4.40%		5/19/2026		900,000		862,033
Bank of America Corp.	1.197% (SOFR + 1.01%	)#	10/24/2026		1,500,000		1,352,720
Bank of America Corp.	1.319% (SOFR + 1.15%	)#	6/19/2026		376,000		345,092
Bank of America Corp.	1.53% (SOFR + 0.65%	)#	12/6/2025		118,000		110,662
Bank of America Corp.	1.734% (SOFR + 0.96%	)#	7/22/2027		220,000		196,290
Bank of America Corp.	2.456% (3 mo. USD Term SOFR + 1.13%	)#	10/22/2025		128,000		122,162
Bank of America Corp.	3.384% (SOFR + 1.33%	)#	4/2/2026		3,765,000		3,624,632
Bank of America Corp.	3.864% (3 mo. USD Term SOFR + 1.20%	)#	7/23/2024		3,418,000		3,407,673
Bank of Ireland Group PLC (Ireland)†(b)	4.50%		11/25/2023		888,000		879,996
Bank of Ireland Group PLC (Ireland)†(b)	6.253% (1 yr. CMT + 2.65%	)#	9/16/2026		500,000		498,321
Bank of Montreal (Canada)(b)	4.25%		9/14/2024		373,000		367,057
Bank of Montreal (Canada)(b)	5.20%		12/12/2024		760,000		757,047
Bank of Montreal (Canada)(b)	5.231% (SOFR + 0.35%	)#	12/8/2023		343,000		342,877
Bank of Montreal (Canada)(b)(c)	5.30%		6/5/2026		463,000		463,735
Bank of New York Mellon	5.148%	#	5/22/2026		692,000		691,303
Bank of New York Mellon Corp.	4.543% (SOFR + 1.17%	)#	2/1/2029		268,000		263,676
Bank of New York Mellon Corp.	4.947% (SOFR + 1.03%	)#	4/26/2027		207,000		206,378
Bank of Nova Scotia (Canada)(b)	4.75%		2/2/2026		268,000		266,303

See Notes to Financial Statements. 209

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Barclays plc (United Kingdom)(b)	5.829% (SOFR + 2.21%	)#	5/9/2027	$	580,000	$	578,989
BNP Paribas SA (France)†(b)	4.705% (3 mo. USD LIBOR + 2.24%	)#	1/10/2025		1,200,000		1,188,929
BNP Paribas SA (France)†(b)	5.125% (1 yr. CMT + 1.45%	)#	1/13/2029		259,000		258,385
BPCE SA (France)†(b)	4.50%		3/15/2025		560,000		540,467
BPCE SA (France)†(b)	4.875%		4/1/2026		200,000		193,709
BPCE SA (France)†(b)	5.15%		7/21/2024		462,000		452,385
BPCE SA (France)†(b)	5.70%		10/22/2023		771,000		766,089
BPCE SA (France)†(b)	5.975% (SOFR + 2.10%	)#	1/18/2027		390,000		389,841
Canadian Imperial Bank of Commerce (Canada)(b)	3.945%		8/4/2025		320,000		310,137
Canadian Imperial Bank of Commerce (Canada)(b)	5.001%		4/28/2028		468,000		463,255
Canadian Imperial Bank of Commerce (Canada)(b)	5.144%		4/28/2025		626,000		622,630
Citigroup, Inc.	3.352% (3 mo. USD Term SOFR + 1.16%	)#	4/24/2025		1,100,000		1,075,412
Citigroup, Inc.	3.887% (3 mo. USD Term SOFR + 1.82%	)#	1/10/2028		1,000,000		952,483
Citigroup, Inc.	4.14% (SOFR + 1.37%	)#	5/24/2025		225,000		221,454
Citigroup, Inc.	5.61% (SOFR + 1.55%	)#	9/29/2026		1,432,000		1,443,146
Citizens Bank NA	4.575% (SOFR + 2.00%	)#	8/9/2028		400,000		364,866
Citizens Bank NA	6.064% (SOFR + 1.45%	)#	10/24/2025		250,000		234,782
Credit Suisse AG	0.52%		8/9/2023		365,000		360,301
Credit Suisse AG	5.465% (SOFR + 0.39%	)#	2/2/2024		375,000		367,651
Credit Suisse AG	5.471% (SOFR + 0.38%	)#	8/9/2023		500,000		497,303
Credit Suisse Group AG (Switzerland)(b)	3.80%		6/9/2023		1,000,000		999,250
Danske Bank AS (Denmark)†(b)	3.244% (3 mo. USD LIBOR + 1.59%	)#	12/20/2025		1,000,000		953,202
Danske Bank AS (Denmark)†(b)	3.773% (1 yr. CMT + 1.45%	)#	3/28/2025		872,000		851,743
Danske Bank AS (Denmark)†(b)	5.375%		1/12/2024		746,000		740,315
Danske Bank AS (Denmark)†(b)	6.466% (1 yr. CMT + 2.10%	)#	1/9/2026		200,000		200,358

210 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
First-Citizens Bank & Trust Co.	2.969% (3 mo. USD Term SOFR + 1.72%	)#	9/27/2025	$	1,216,000	$	1,137,596
First-Citizens Bank & Trust Co.	3.929% (SOFR + 3.83%	)#	6/19/2024		837,000		827,152
Goldman Sachs Group, Inc.	2.64% (SOFR + 1.11%	)#	2/24/2028		163,000		147,874
Goldman Sachs Group, Inc.	3.272% (3 mo. USD Term SOFR + 1.46%	)#	9/29/2025		486,000		470,195
Goldman Sachs Group, Inc.	5.751% (SOFR + 0.70%	)#	1/24/2025		830,000		827,375
HSBC Holdings PLC (United Kingdom)(b)	3.803% (3 mo. USD LIBOR + 1.21%	)#	3/11/2025		583,000		572,258
HSBC Holdings PLC (United Kingdom)(b)	4.292% (3 mo. USD LIBOR + 1.35%	)#	9/12/2026		900,000		870,547
HSBC USA, Inc.	5.625%		3/17/2025		283,000		283,656
Huntington National Bank	4.008% (SOFR + 1.21%	)#	5/16/2025		250,000		235,863
JPMorgan Chase & Co.	2.301% (SOFR + 1.16%	)#	10/15/2025		226,000		216,033
JPMorgan Chase & Co.	3.782% (3 mo. USD Term SOFR + 1.60%	)#	2/1/2028		1,600,000		1,522,794
JPMorgan Chase & Co.	3.797% (3 mo. USD Term SOFR + 0.89%	)#	7/23/2024		2,180,000		2,173,787
JPMorgan Chase & Co.	3.845% (SOFR + 0.98%	)#	6/14/2025		222,000		217,646
JPMorgan Chase & Co.	6.012% (SOFR + 0.92%	)#	2/24/2026		479,000		479,574
KeyBank NA	4.70%		1/26/2026		404,000		373,091
Lloyds Banking Group PLC (United Kingdom)(b)	3.90%		3/12/2024		902,000		887,789
Macquarie Group Ltd. (Australia)†(b)	1.34% (SOFR + 1.07%	)#	1/12/2027		226,000		202,377
Macquarie Group Ltd. (Australia)†(b)	5.108% (SOFR + 2.21%	)#	8/9/2026		342,000		338,469
Macquarie Group Ltd. (Australia)†(b)	6.207%		11/22/2024		1,288,000		1,297,290
Manufacturers & Traders Trust Co.	4.65%		1/27/2026		1,216,000		1,158,944
Manufacturers & Traders Trust Co.	4.70%		1/27/2028		402,000		376,538
Manufacturers & Traders Trust Co.	5.40%		11/21/2025		1,009,000		983,126
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	0.962% (1 yr. CMT + .45%	)#	10/11/2025		820,000		765,822
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	4.788% (1 yr. CMT + 1.70%	)#	7/18/2025		409,000		404,771

See Notes to Financial Statements. 211

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	5.063% (1 yr. CMT + 1.55%	)#	9/12/2025	$	265,000	$	262,767
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	5.719% (1 yr. CMT + 1.08%	)#	2/20/2026		360,000		359,956
Morgan Stanley	2.188% (SOFR + 1.99%	)#	4/28/2026		721,000		681,179
Morgan Stanley	5.05% (SOFR + 1.30%	)#	1/28/2027		836,000		833,751
Morgan Stanley	6.138% (SOFR + 1.77%	)#	10/16/2026		164,000		167,632
National Securities Clearing Corp.†	5.15%		5/30/2025		520,000		521,456
NatWest Group PLC (United Kingdom)(b)	4.269% (3 mo. USD LIBOR + 1.76%	)#	3/22/2025		1,610,000		1,583,155
NatWest Group PLC (United Kingdom)(b)	4.519% (3 mo. USD LIBOR + 1.55%	)#	6/25/2024		1,181,000		1,178,882
NatWest Group PLC (United Kingdom)(b)	5.847% (1 yr. CMT + 1.35%	)#	3/2/2027		200,000		200,697
NatWest Group PLC (United Kingdom)(b)	6.684% (3 mo. USD LIBOR + 1.55%	)#	6/25/2024		600,000		600,058
Nordea Bank Abp (Finland)†(b)	3.60%		6/6/2025		200,000		192,959
Royal Bank of Canada (Canada)(b)	4.875%		1/12/2026		1,318,000		1,311,936
Royal Bank of Canada (Canada)(b)	5.349% (SOFR + 0.34%	)#	10/7/2024		2,000,000		1,989,721
Santander Holdings USA, Inc.	3.50%		6/7/2024		811,000		788,451
Santander U.K. Group Holdings PLC (United Kingdom)(b)	4.796% (3 mo. USD LIBOR + 1.57%	)#	11/15/2024		500,000		496,091
Santander U.K. Group Holdings PLC (United Kingdom)(b)	6.534% (SOFR + 2.60%	)#	1/10/2029		391,000		397,664
Societe Generale SA (France)†(b)	2.226% (1 yr. CMT + 1.05%	)#	1/21/2026		335,000		311,099
Standard Chartered PLC (United Kingdom)†(b)	0.991% (1 yr. CMT + 0.78%	)#	1/12/2025		500,000		483,721
Standard Chartered PLC (United Kingdom)†(b)	1.214% (1 yr. CMT + 0.88%	)#	3/23/2025		200,000		192,227
Standard Chartered PLC (United Kingdom)†(b)	3.785% (3 mo. USD LIBOR + 1.56%	)#	5/21/2025		733,000		715,610
Standard Chartered PLC (United Kingdom)†(b)	5.20%		1/26/2024		236,000		233,691
State Street Corp.	5.104% (SOFR + 1.13%	)#	5/18/2026		396,000		395,139
Toronto-Dominion Bank (Canada)(b)	4.693%		9/15/2027		1,043,000		1,024,131

212 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Toronto-Dominion Bank (Canada)(b)	5.243% (SOFR + 0.35%	)#	9/10/2024	$	2,000,000	$	1,992,970
Truist Financial Corp.	4.26% (SOFR + 1.46%	)#	7/28/2026		236,000		227,000
Truist Financial Corp.	4.873% (SOFR + 1.44%	)#	1/26/2029		158,000		153,047
Truist Financial Corp.	5.287% (SOFR + 0.40%	)#	6/9/2025		850,000		819,811
UBS AG (United Kingdom)†(b)	0.70%		8/9/2024		842,000		792,878
UBS AG (Switzerland)(b)	5.125%		5/15/2024		1,109,000		1,092,742
UBS Group AG (Switzerland)†(b)	4.125%		9/24/2025		470,000		451,637
UBS Group AG (Switzerland)†(b)	4.488% (1 yr. CMT + 1.55%	)#	5/12/2026		1,755,000		1,697,081
UBS Group AG (Switzerland)†(b)	5.711% (1 yr. CMT + 1.55%	)#	1/12/2027		1,590,000		1,577,543
UniCredit SpA (Italy)†(b)	7.83%		12/4/2023		1,400,000		1,406,118
Wells Fargo & Co.	4.54% (SOFR + 1.56%	)#	8/15/2026		341,000		335,342
Total							74,954,573
Biotechnology 0.54%
Amgen, Inc.	5.15%		3/2/2028		534,000		538,612
Amgen, Inc.	5.25%		3/2/2025		299,000		299,956
Amgen, Inc.	5.507%		3/2/2026		534,000		534,149
Illumina, Inc.	5.75%		12/13/2027		446,000		454,476
Illumina, Inc.	5.80%		12/12/2025		168,000		170,021
Total							1,997,214
Chemicals 1.38%
Celanese U.S. Holdings LLC	5.90%		7/5/2024		1,469,000		1,467,716
FMC Corp.	5.15%		5/18/2026		151,000		149,549
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		3,636,000		3,244,716
Nutrien Ltd. (Canada)(b)	5.95%		11/7/2025		198,000		201,960
Total							5,063,941
Commercial Services 0.30%
Global Payments, Inc.	2.65%		2/15/2025		551,000		524,944
Triton Container International Ltd.†	0.80%		8/1/2023		341,000		335,543
Triton Container International Ltd.†	1.15%		6/7/2024		250,000		234,175
Total							1,094,662

See Notes to Financial Statements. 213

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Computers 0.38%
Dell International LLC/EMC Corp.	6.02%		6/15/2026	$	1,350,000	$	1,382,197
Diversified Financial Services 5.11%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.50%		9/15/2023		310,000		308,646
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.875%		1/16/2024		1,150,000		1,140,261
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)(c)	5.75%		6/6/2028		237,000		235,149
AerCap Ireland Capital DAC/AerCap Global Aviation Trust Series 3NC1 (Ireland)(b)	1.75%		10/29/2024		2,000,000		1,877,832
Air Lease Corp.	4.25%		2/1/2024		2,000,000		1,976,325
Aircastle Ltd.	4.40%		9/25/2023		232,000		230,140
Aircastle Ltd.†	5.25%		8/11/2025		309,000		300,262
American Express Co.	4.90%		2/13/2026		336,000		335,831
American Express Co.	4.99%		5/1/2026		715,000		713,608
Aviation Capital Group LLC†	1.95%		1/30/2026		854,000		763,263
Aviation Capital Group LLC†	1.95%		9/20/2026		854,000		741,948
Aviation Capital Group LLC†	5.50%		12/15/2024		722,000		708,448
Avolon Holdings Funding Ltd. (Ireland)†(b)	4.25%		4/15/2026		725,000		671,669
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.125%		10/1/2023		260,000		258,884
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.25%		5/15/2024		1,100,000		1,083,250
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.50%		1/15/2026		1,150,000		1,107,839
Avolon Holdings Funding Ltd. (Ireland)†(b)	6.375%		5/4/2028		321,000		313,898
Capital One Financial Corp.	1.343% (SOFR + 0.69%	)#	12/6/2024		813,000		788,388
Capital One Financial Corp.	4.166% (SOFR + 1.37%	)#	5/9/2025		1,014,000		987,299
Capital One Financial Corp.	5.571% (SOFR + 0.69%	)#	12/6/2024		1,368,000		1,337,948
LPL Holdings, Inc.†	4.625%		11/15/2027		1,150,000		1,067,886
Nuveen Finance LLC†	4.125%		11/1/2024		823,000		801,665
Radian Group, Inc.	4.50%		10/1/2024		1,064,000		1,034,298
Total							18,784,737
Electric 7.70%
AES Corp.†	3.30%		7/15/2025		1,100,000		1,044,048
Alexander Funding Trust†	1.841%		11/15/2023		1,806,000		1,764,724
American Electric Power Co., Inc.	5.699%		8/15/2025		365,000		333,851
American Electric Power Co., Inc.	5.75%		11/1/2027		112,000		115,504

214 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Electric (continued)
CenterPoint Energy, Inc.	5.74% (SOFR + 0.65%	)#	5/13/2024	$	2,159,000	$	2,153,380
Cleco Corporate Holdings LLC	3.743%		5/1/2026		2,000,000		1,895,419
Cleveland Electric Illuminating Co.	5.50%		8/15/2024		335,000		335,534
Comision Federal de Electricidad (Mexico)†(b)	4.875%		1/15/2024		700,000		691,668
Dominion Energy, Inc.	3.071%	(d)	8/15/2024		1,008,000		975,658
Dominion Energy, Inc.	5.396% (3 mo. USD LIBOR + 0.53%	)#	9/15/2023		500,000		499,881
DTE Energy Co.	4.875%		6/1/2028		436,000		431,405
Duke Energy Corp.	2.65%		9/1/2026		149,000		138,420
Duke Energy Corp.	5.00%		12/8/2025		1,077,000		1,076,658
Evergy Missouri West, Inc.†	5.15%		12/15/2027		843,000		846,523
Eversource Energy	4.75%		5/15/2026		881,000		873,019
Fells Point Funding Trust†	3.046%		1/31/2027		900,000		837,516
FirstEnergy Transmission LLC†	4.35%		1/15/2025		750,000		732,760
Florida Power & Light Co.	4.45%		5/15/2026		746,000		742,080
ITC Holdings Corp.	3.65%		6/15/2024		1,300,000		1,268,717
ITC Holdings Corp.†	4.95%		9/22/2027		307,000		305,946
Jersey Central Power & Light Co.†	4.70%		4/1/2024		1,750,000		1,730,454
NextEra Energy Capital Holdings, Inc.	4.20%		6/20/2024		78,000		76,929
NextEra Energy Capital Holdings, Inc.	5.482% (SOFR + 0.4%	)#	11/3/2023		360,000		359,878
NextEra Energy Capital Holdings, Inc.	6.051%		3/1/2025		339,000		342,909
NRG Energy, Inc.†	3.75%		6/15/2024		799,000		774,206
Oncor Electric Delivery Co. LLC	4.30%		5/15/2028		235,000		232,216
Pacific Gas & Electric Co.	3.15%		1/1/2026		826,592		773,346
Pacific Gas & Electric Co.	3.75%		2/15/2024		525,000		516,065
Pennsylvania Electric Co.†	4.15%		4/15/2025		691,000		669,840
Pennsylvania Electric Co.†	5.15%		3/30/2026		871,000		865,890
Public Service Enterprise Group, Inc.	5.85%		11/15/2027		345,000		356,409
Puget Energy, Inc.	3.65%		5/15/2025		897,000		865,014
Southern Co.	4.475%	(d)	8/1/2024		629,000		619,916
System Energy Resources, Inc.	6.00%		4/15/2028		1,776,000		1,804,759
Vistra Operations Co. LLC†	3.55%		7/15/2024		903,000		874,184
Wisconsin Public Service Corp.	5.35%		11/10/2025		372,000		375,121
Total							28,299,847

See Notes to Financial Statements. 215

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
Electronics 0.53%
Arrow Electronics, Inc.	6.125%		3/1/2026	$	173,000	$	173,259
TD SYNNEX Corp.	1.25%		8/9/2024		1,900,000		1,792,618
Total							1,965,877
Entertainment 0.87%
Warnermedia Holdings, Inc.	3.428%		3/15/2024		2,000,000		1,958,455
Warnermedia Holdings, Inc.	3.638%		3/15/2025		675,000		653,497
Warnermedia Holdings, Inc.	3.788%		3/15/2025		170,000		164,385
Warnermedia Holdings, Inc.	6.412%		3/15/2026		268,000		268,653
Warnermedia Holdings, Inc.	6.701%	#	3/15/2024		137,000		137,518
Total							3,182,508
Gas 1.75%
Centrica PLC (United Kingdom)†(b)	4.00%		10/16/2023		400,000		397,462
East Ohio Gas Co.†	1.30%		6/15/2025		1,400,000		1,289,788
National Fuel Gas Co.	5.20%		7/15/2025		750,000		742,933
National Fuel Gas Co.	5.50%		1/15/2026		900,000		893,957
National Fuel Gas Co.	5.50%		10/1/2026		241,000		237,854
NiSource, Inc.	5.25%		3/30/2028		1,571,000		1,583,603
ONE Gas, Inc.	1.10%		3/11/2024		406,000		392,272
Southwest Gas Corp.	5.80%		12/1/2027		883,000		904,286
Total							6,442,155
Hand/Machine Tools 0.31%
Regal Rexnord Corp.†	6.05%		2/15/2026		829,000		831,370
Regal Rexnord Corp.†	6.05%		4/15/2028		307,000		303,670
Total							1,135,040
Health Care-Products 0.41%
GE HealthCare Technologies, Inc.†	5.55%		11/15/2024		800,000		799,310
GE HealthCare Technologies, Inc.†	5.60%		11/15/2025		724,000		726,177
Total							1,525,487
Health Care-Services 0.83%
Centene Corp.	2.45%		7/15/2028		155,000		133,320
Centene Corp.	4.25%		12/15/2027		1,720,000		1,617,970
Elevance Health, Inc.	4.90%		2/8/2026		162,000		161,214
HCA, Inc.	5.00%		3/15/2024		1,000,000		993,245
HCA, Inc.	5.20%		6/1/2028		135,000		134,216
Total							3,039,965

216 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Insurance 4.51%
Brighthouse Financial Global Funding†	5.782% (SOFR + 0.76%	)#	4/12/2024	$	2,027,000	$	2,006,352
CNO Global Funding†	1.65%		1/6/2025		1,109,000		1,029,148
Equitable Financial Life Global Funding†	1.40%		7/7/2025		801,000		733,221
Equitable Financial Life Global Funding†	5.45%		3/3/2028		411,000		417,778
F&G Global Funding†	5.15%		7/7/2025		1,343,000		1,311,199
Fidelity & Guaranty Life Holdings, Inc.†	5.50%		5/1/2025		1,000,000		984,612
GA Global Funding Trust†	0.80%		9/13/2024		707,000		660,733
GA Global Funding Trust†	3.85%		4/11/2025		2,033,000		1,949,130
Jackson Financial, Inc.	5.17%		6/8/2027		305,000		291,939
Jackson National Life Global Funding†	1.75%		1/12/2025		300,000		279,927
Jackson National Life Global Funding†	5.50%		1/9/2026		1,861,000		1,837,889
Jackson National Life Global Funding†	6.132% (SOFR + 1.15%	)#	6/28/2024		562,000		562,246
Metropolitan Life Global Funding I†	0.40%		1/7/2024		1,250,000		1,213,176
Metropolitan Life Global Funding I†	4.05%		8/25/2025		997,000		967,817
New York Life Global Funding†	4.70%		4/2/2026		339,000		337,364
Protective Life Global Funding†	5.209%		4/14/2026		250,000		248,824
Protective Life Global Funding†	5.366%		1/6/2026		1,750,000		1,763,885
Total							16,595,240
Internet 0.89%
Amazon.com, Inc.	4.55%		12/1/2027		1,222,000		1,232,262
Netflix, Inc.	4.375%		11/15/2026		1,050,000		1,032,774
Netflix, Inc.	4.875%		4/15/2028		1,000,000		992,849
Total							3,257,885
Lodging 0.39%
Hyatt Hotels Corp.	1.30%		10/1/2023		1,250,000		1,231,057
Hyatt Hotels Corp.	1.80%		10/1/2024		218,000		206,830
Total							1,437,887
Media 0.26%
Charter Communications Operating LLC/Charter Communications Operating Capital	4.50%		2/1/2024		475,000		470,078
RELX, Inc.†	6.625%		10/15/2023		500,000		499,743
Total							969,821
Mining 0.66%
Glencore Funding LLC†	4.00%		4/16/2025		776,000		758,557
Glencore Funding LLC†	4.625%		4/29/2024		1,693,000		1,676,401
Total							2,434,958

See Notes to Financial Statements. 217

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
Oil & Gas 3.61%
Continental Resources, Inc.†	2.268%		11/15/2026	$	1,800,000	$	1,610,461
Continental Resources, Inc.	3.80%		6/1/2024		1,373,000		1,346,246
Devon Energy Corp.	5.25%		10/15/2027		1,500,000		1,484,541
Devon Energy Corp.	8.25%		8/1/2023		524,000		524,445
EQT Corp.	5.678%		10/1/2025		216,000		216,045
EQT Corp.	6.125%		2/1/2025		1,670,000		1,672,772
Occidental Petroleum Corp.	6.375%		9/1/2028		1,500,000		1,544,895
Ovintiv Exploration, Inc.	5.375%		1/1/2026		1,300,000		1,293,474
Ovintiv, Inc.	5.65%		5/15/2025		477,000		476,509
Phillips 66 Co.	3.55%		10/1/2026		1,250,000		1,185,323
Pioneer Natural Resources Co.	5.10%		3/29/2026		174,000		174,057
Suncor Energy, Inc. (Canada)(b)	7.875%		6/15/2026		500,000		532,496
Viper Energy Partners LP†	5.375%		11/1/2027		1,250,000		1,203,750
Total							13,265,014
Pharmaceuticals 1.39%
Bayer U.S. Finance II LLC†	3.875%		12/15/2023		2,000,000		1,979,202
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)	4.45%		5/19/2026		1,830,000		1,821,060
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)	4.65%		5/19/2025		1,309,000		1,306,677
Total							5,106,939
Pipelines 0.83%
DCP Midstream Operating LP	5.375%		7/15/2025		581,000		575,115
Enbridge, Inc. (Canada)(b)	5.722% (SOFR + 0.63%	)#	2/16/2024		1,142,000		1,140,272
Energy Transfer LP	5.875%		1/15/2024		500,000		500,155
Plains All American Pipeline LP/PAA Finance Corp.	3.60%		11/1/2024		700,000		679,260
Williams Cos., Inc.	5.40%		3/2/2026		144,000		145,231
Total							3,040,033
REITS 1.61%
American Tower Corp.	3.65%		3/15/2027		1,700,000		1,607,233
Crown Castle, Inc.	5.00%		1/11/2028		205,000		203,430
GLP Capital LP/GLP Financing II, Inc.	3.35%		9/1/2024		337,000		326,425
GLP Capital LP/GLP Financing II, Inc.	5.25%		6/1/2025		350,000		342,757
Kite Realty Group Trust	4.00%		3/15/2025		647,000		612,981
VICI Properties LP/VICI Note Co., Inc.†	3.50%		2/15/2025		1,600,000		1,527,415
VICI Properties LP/VICI Note Co., Inc.†	4.625%		6/15/2025		1,350,000		1,304,185
Total							5,924,426

218 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date		Principal Amount		Fair Value
Semiconductors 0.49%
Marvell Technology, Inc.		4.20%		6/22/2023	$	491,000	$	490,581
Microchip Technology, Inc.		0.972%		2/15/2024		432,000		417,232
Microchip Technology, Inc.		2.67%		9/1/2023		400,000		396,599
Skyworks Solutions, Inc.		0.90%		6/1/2023		493,000		493,000
Total								1,797,412
Shipbuilding 0.31%
Huntington Ingalls Industries, Inc.		3.844%		5/1/2025		1,186,000		1,149,625
Software 0.28%
Fiserv, Inc.		5.45%		3/2/2028		286,000		290,582
Oracle Corp.		2.30%		3/25/2028		358,000		316,914
Oracle Corp.		2.50%		4/1/2025		53,000		50,549
Take-Two Interactive Software, Inc.		5.00%		3/28/2026		364,000		362,589
Total								1,020,634
Telecommunications 1.01%
Rogers Communications, Inc. (Canada)(b)		4.10%		10/1/2023		1,625,000		1,615,368
T-Mobile USA, Inc.		2.625%		4/15/2026		2,250,000		2,098,241
Total								3,713,609
Trucking & Leasing 0.05%
SMBC Aviation Capital Finance DAC (Ireland)†(b)		5.45%		5/3/2028		200,000		199,431
Total Corporate Bonds (cost $226,994,459)								224,713,611
FLOATING RATE LOANS(e) 5.97%
Chemicals 0.51%
Celanese U.S. Holdings LLC 2022 364-Day Delayed Draw Term Loan		6.468%		10/31/2023		880,000		882,200
Nutrition & Biosciences, Inc. 3 Year Delayed Draw Term Loan		6.673%		2/1/2024		1,000,000		998,125
Total								1,880,325
Diversified Financial Services 0.52%
Avolon TLB Borrower 1 (US) LLC Term Loan B3		6.898% (1 mo. USD LIBOR + 1.75%	)	1/15/2025		1,000,000		997,440
Delos Finance Sarl 2018 Term Loan B (Luxembourg)(b)	6.909% (3 mo. USD LIBOR + 1.75%		)	10/6/2023		905,089		905,750
Total								1,903,190

See Notes to Financial Statements. 219

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
Entertainment 0.49%
Stars Group Holdings BV 2018 USD Incremental Term Loan (Netherlands)(b)	7.409% (3 mo. USD LIBOR + 2.25%	)	7/21/2026	$	1,808,987	$	1,804,157
Health Care Products 1.29%
Baxter International, Inc. 2021 Delayed Draw Term Loan Tranche 1	6.237% (1 mo. USD Term SOFR + 1.13%	)	9/30/2024		1,261,602		1,257,660
CVS Health Corp. 364 Day Term Loan	6.244% (3 mo. USD Term SOFR + 1.25%	)	5/1/2024		3,500,000		3,493,910
Total							4,751,570
Lodging 0.81%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%	)	6/22/2026		3,000,000		2,988,090
Media 0.76%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% - 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%	) )	4/30/2025		2,795,932		2,793,556
Pipelines 0.32%
Targa Resources Corp. Term Loan	6.85% - 6.92% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%	) )	7/12/2025		1,175,000		1,171,328
Real Estate Investment Trusts 0.68%
American Tower Corp. 2021 First Lien Delayed Draw Term loan	6.25% (1 mo. USD LIBOR + 1.13%	)	12/8/2023		1,048,676		1,048,351
Invitation Homes Operating Partnership LP 2020 Term Loan A	6.253% (1 mo. USD Term SOFR + 1.00%	)	1/31/2025		1,476,388		1,450,551
Total							2,498,902
Semiconductors 0.35%
Marvell Technology Group Ltd. 2020 3 Year Term Loan A	–	(f)	12/7/2023		1,275,000		1,275,803
Software 0.24%
Open Text Corporation Term Loan B (Canada)(b)	–	(f)	5/30/2025		900,000		899,649
Total Floating Rate Loans (cost $22,046,622)							21,966,570

220 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date		Principal Amount		Fair Value
FOREIGN GOVERNMENT OBLIGATIONS(b) 1.05%
Sweden
Svensk Exportkredit AB (cost $3,891,232)		4.00%		7/15/2025	$	3,900,000	$	3,859,107
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.00%
Government National Mortgage Association Series 2014-112 Class A (Cost $8,416)		3.00%	#(g)	1/16/2048		8,329		7,523
MUNICIPAL BONDS 0.02%
Government
State of Illinois GO (cost $82,091)		4.95%		6/1/2023		82,091		82,091
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.25%
Angel Oak Mortgage Trust Series 2020-6 Class A1†		1.261%	#(g)	5/25/2065		76,823		68,872
Atrium Hotel Portfolio Trust Series 2017-ATRM Class A†		6.287% (1 mo. USD LIBOR + 1.18%	)#	12/15/2036		350,000		337,201
BAMLL Commercial Mortgage Securities Trust Series 2013-WBRK Class A†		3.534%	#(g)	3/10/2037		230,000		205,040
BBCMS Mortgage Trust Series 2017-DELC Class A†		6.082% (1 mo. USD LIBOR + 0.98%	)#	8/15/2036		333,000		332,687
BBCMS Mortgage Trust Series 2018-TALL Class A†		5.98% (1 mo. USD LIBOR + 0.87%	)#	3/15/2037		500,000		450,075
BBCMS Mortgage Trust Series 2018-TALL Class C†	6.379% (1 mo. USD LIBOR + 1.27%		)#	3/15/2037		340,000		262,972
BBCMS Mortgage Trust Series 2020-C7 Class A2		2.021%		4/15/2053		250,000		235,513
Benchmark Mortgage Trust Series 2021 B23 Class A2		1.62%		2/15/2054		220,000		195,536
BHMS Mortgage Trust Series 2018-ATLS Class A†		6.357% (1 mo. USD LIBOR + 1.25%	)#	7/15/2035		940,000		914,694
BHMS Mortgage Trust Series 2018-ATLS Class C†		7.007% (1 mo. USD LIBOR + 1.90%	)#	7/15/2035		890,000		846,608
BHMS Mortgage Trust Series 2018-ATLS Class D†		7.357% (1 mo. USD LIBOR + 2.25%	)#	7/15/2035		570,000		537,182
BX Commercial Mortgage Trust Series 2019-IMC Class A†		6.107% (1 mo. USD LIBOR + 1.00%	)#	4/15/2034		686,000		677,638

See Notes to Financial Statements. 221

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
BX Commercial Mortgage Trust Series 2019-IMC Class B†	6.407% (1 mo. USD LIBOR + 1.30%	)#	4/15/2034	$	800,000	$	782,345
BX Commercial Mortgage Trust Series 2020-VKNG Class A†	6.104% (1 mo. USD Term SOFR + 1.04%	)#	10/15/2037		512,850		504,766
BXHPP Trust Series 2021-FILM Class B†	6.007% (1 mo. USD LIBOR + 0.90%	)#	8/15/2036		460,000		422,505
Cantor Commercial Real Estate Lending Series 2019-CF1 Class 65A†	4.411%	#(g)	5/15/2052		50,000		44,055
Citigroup Commercial Mortgage Trust Series 2015-GC27 Class AAB	2.944%		2/10/2048		2,671		2,610
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class A5	3.616%		2/10/2049		100,000		94,467
Citigroup Commercial Mortgage Trust Series 2016-GC37 Class A4	3.314%		4/10/2049		225,000		211,629
Citigroup Commercial Mortgage Trust Series 2018-B2 Class A2	3.788%		3/10/2051		3,103		3,095
Commercial Mortgage Pass-Through Certificates Series 2012-CR1 Class B	4.612%		5/15/2045		178,830		170,542
Commercial Mortgage Pass-Through Certificates Series 2014-UBS3 Class A4	3.819%		6/10/2047		107,000		103,694
Commercial Mortgage Pass-Through Certificates Series 2014-UBS6 Class A5	3.644%		12/10/2047		17,404		16,685
Commercial Mortgage Pass-Through Certificates Series 2015-DC1 Class A4	3.078%		2/10/2048		280,000		272,311
Credit Suisse Mortgage Capital Certificates Trust Series 2020-NQM1 Class A1†	1.208%	(d)	5/25/2065		83,579		75,704
Credit Suisse Mortgage Capital Certificates Trust Series 2021-ADV Class A†	6.508% (1 mo. USD LIBOR + 1.40%	)#	7/15/2038		450,000		405,349
DBGS Mortgage Trust Series 2021-W52 Class A†	6.503% (1 mo. USD LIBOR + 1.39%	)#	10/15/2036		730,000		682,976
Ellington Financial Mortgage Trust Series 2020-1 Class A1†	2.006%	#(g)	5/25/2065		16,933		16,200
Federal Home Loan Mortgage Corp. STACR REMIC Trust Series 2023-HQA1 Class M1A†	6.923%	#	5/25/2043		1,100,000		1,100,425
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-DNA2 Class M1A†	7.081% (30 day USD SOFR Average + 2.10%	)#	4/25/2043		874,599		879,345

222 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount			Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Federal National Mortgage Association Connecticut Avenue Securities Series 2013-C01 Class M2	10.388% (1 mo. USD LIBOR + 5.25%	)#	10/25/2023	$	863,326		$	876,321
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03 Class 2M1	7.473%		4/25/2043		707,340			714,518
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R01 Class 1M1†	5.973% (30 day USD SOFR Average + 1.00%	)#	12/25/2041		460,623			457,973
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M1†	7.381% (30 day USD SOFR Average + 2.40%	)#	12/25/2042		473,382			477,024
Fontainebleau Miami Beach Trust Series 2019-FBLU Class A†	3.144%		12/10/2036		500,000			474,672
Freddie Mac STACR REMIC Trust Series 2021-HQA4 Class M1†	5.923% (30 day USD SOFR Average + 0.95%	)#	12/25/2041		556,037			537,314
Freddie Mac STACR REMIC Trust Series 2022-DNA1 Class M1A†	5.973% (30 day USD SOFR Average + 1.00%	)#	1/25/2042		750,957			738,202
GCAT Trust Series 2020-NQM2 Class A1†	1.555%	(d)	4/25/2065		40,516			36,908
Great Wolf Trust Series 2019-WOLF Class A†	6.208% (1 mo. USD Term SOFR + 1.15%	)#	12/15/2036		550,000			543,007
GS Mortgage Securities Corp. Trust Series 2018-RIVR Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	7/15/2035		773,667			706,963
GS Mortgage Securities Corp. Trust Series 2019-70P Class XCP†	Zero Coupon	#(g)	10/15/2036		21,863,000	(h)		409
GS Mortgage Securities Corp. Trust Series 2019-SMP Class A†	6.257% (1 mo. USD LIBOR + 1.15%	)#	8/15/2032		385,000			377,527
GS Mortgage Securities Corp. Trust Series 2019-SMP Class B†	6.607% (1 mo. USD LIBOR + 1.50%	)#	8/15/2032		185,000			178,221
GS Mortgage Securities Corp. Trust Series 2019-SMP Class XCP†	Zero Coupon	#(g)	8/15/2032		10,130,600	(h)		216
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class A†	6.258% (1 mo. USD LIBOR + 1.15%	)#	5/15/2026		270,000			245,004

See Notes to Financial Statements. 223

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
GS Mortgage Securities Trust Series 2013-GCJ14 Class A5	4.243%		8/10/2046	$	283,056	$	282,432
GS Mortgage Securities Trust Series 2015-GC34 Class A4	3.506%		10/10/2048		225,000		212,975
GS Mortgage Securities Trust Series 2016-GS2 Class A4	3.05%		5/10/2049		425,000		396,623
HMH Trust Series 2017-NSS Class C†	3.787%		7/5/2031		28,000		26,442
HONO Mortgage Trust Series 2021-LULU Class A†	6.257% (1 mo. USD LIBOR + 1.15%	)#	10/15/2036		450,000		431,501
Houston Galleria Mall Trust Series 2015-HGLR Class A1A2†	3.087%		3/5/2037		500,000		468,039
HPLY Trust Series 2019-HIT Class A†	6.107% (1 mo. USD LIBOR + 1.00%	)#	11/15/2036		141,651		139,955
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class A†	6.377% (1 mo. USD LIBOR + 1.27%	)#	11/15/2035		48,000		46,297
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class B†	6.707% (1 mo. USD LIBOR + 1.60%	)#	11/15/2035		12,000		11,466
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class C†	7.057% (1 mo. USD LIBOR + 1.95%	)#	11/15/2035		12,000		11,283
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-ICON Class A†	3.884%		1/5/2034		368,000		357,818
JPMorgan Chase Commercial Mortgage Securities Trust Series 2021-1440 Class B†	6.857% (1 mo. USD LIBOR + 1.75%	)#	3/15/2036		680,000		595,376
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-CKSV Class A2†	3.277%		10/15/2030		96,475		77,501
MSCG Trust Series 2015-ALDR Class A1†	2.612%		6/7/2035		17,030		16,117
Natixis Commercial Mortgage Securities Trust Series 2018-285M Class A†	3.79%	#(g)	11/15/2032		33,200		31,052
Ready Capital Mortgage Financing LLC Series 2021-FL6 Class A†	6.088% (1 mo. USD LIBOR + 0.95%	)#	7/25/2036		617,415		598,387
SFO Commercial Mortgage Trust Series 2021-555 Class A†	6.257% (1 mo. USD LIBOR + 1.15%	)#	5/15/2038		320,000		284,201
SMRT Commercial Mortgage Trust Series 2022-MINI Class A†	6.06% (1 mo. USD Term SOFR + 1.00%	)#	1/15/2039		1,130,000		1,097,684

224 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Verus Securitization Trust Series 2020-4 Class A1†	1.502%	(d)	5/25/2065	$	42,737	$	39,305
Verus Securitization Trust Series 2020-5 Class A1†	1.218%	(d)	5/25/2065		89,229		81,151
Verus Securitization Trust Series 2020-INV1 Class A1†	1.977%	#(g)	3/25/2060		15,301		14,873
Vista Point Securitization Trust Series 2020-2 Class A1†	1.475%	#(g)	4/25/2065		31,843		28,378
Wells Fargo Commercial Mortgage Trust Series 2015-C26 Class AS	3.58%		2/15/2048		40,000		37,649
WFLD Mortgage Trust Series 2014-MONT Class A†	3.755%	#(g)	8/10/2031		275,000		244,000
WF-RBS Commercial Mortgage Trust Series 2014-C19 Class A5	4.101%		3/15/2047		87,000		85,268
WF-RBS Commercial Mortgage Trust Series 2014-C20 Class A5	3.995%		5/15/2047		140,000		136,138
Total Non-Agency Commercial Mortgage-Backed Securities (cost $24,197,196)							22,968,911
U.S. TREASURY OBLIGATIONS 4.36%
U.S. Treasury Inflation-Indexed Notes(i)	0.25%		1/15/2025		2,248,998		2,166,588
U.S. Treasury Notes	3.50%		4/30/2028		1,375,000		1,357,598
U.S. Treasury Notes	3.875%		3/31/2025		11,008,000		10,881,580
U.S. Treasury Notes	3.875%		4/30/2025		1,623,000		1,605,439
Total U.S. Treasury Obligations (cost $16,135,273)							16,011,205
Total Long-Term Investments (cost $357,913,141)							352,614,726
SHORT-TERM INVESTMENTS 4.15%
COMMERCIAL PAPER 2.96%
Auto Manufacturers 0.08%
General Motors Financial Co., Inc.	5.68%		8/22/2023		310,000		306,116
Chemicals 0.08%
FMC Corp.	6.175%		7/10/2023		284,000		282,154
Electric 0.23%
Electricite de France SA	5.61%		7/7/2023		374,000		371,951
RWE AG	6.019%		7/11/2023		462,000		458,971
Total							830,922
Equity Real Estate 0.48%
Crown Castle, Inc.	6.009%		6/8/2023		1,759,000		1,756,982
Finance 0.41%
Brookfield Infrastructure Holdings Canada, Inc.	6.485%		10/5/2023		1,541,000		1,509,687

See Notes to Financial Statements. 225

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Health Care-Services 0.37%
CommonSpirit Health	5.934%	6/14/2023	$	834,000	$	832,254
CommonSpirit Health	5.935%	6/22/2023		516,000		514,254
Total						1,346,508
Oil & Gas 0.68%
Ovintiv, Inc.	6.093%	6/16/2023		379,000		378,060
Ovintiv, Inc.	6.167%	6/9/2023		325,000		324,563
Suncor Energy, Inc.	5.776%	8/21/2023		1,825,000		1,801,630
Total						2,504,253
Pharmaceuticals 0.45%
Bayer Corp.	6.048%	7/21/2023		1,688,000		1,674,285
Pipelines 0.18%
Targa Resources Corp.	6.117%	6/7/2023		670,000		669,330
Total Commercial Paper (cost $10,878,485)						10,880,237
REPURCHASE AGREEMENTS 1.19%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $1,544,000 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $1,400,336; proceeds: $1,372,941 (cost $1,372,841)				1,372,841		1,372,841
Repurchase Agreement dated 5/31/2023, 5.100% due 6/1/2023 with TD Securities USA LLC collateralized by $3,124,000 of U.S. Treasury Bond at 3.875% due 5/15/2043; value: $3,062,411; proceeds: $2,999,879 (cost $2,999,472)				2,999,472		2,999,472
Total Repurchase Agreement (cost $4,372,313)						4,372,313
Total Short-Term Investments (cost $15,250,798)						15,252,550
Total Investments in Securities 100.05% (cost $373,163,939)						367,867,276
Other Assets and Liabilities – Net(j) (0.05)%						(171,183	)
Net Assets 100.00%					$	367,696,093

CMT	Constant Maturity Rate.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $152,638,565, which represents 41.51% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.

226 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION CORE BOND FUND May 31, 2023

(b)	Foreign security traded in U.S. dollars.
(c)	Securities purchased on a when-issued basis (See Note 2(j)).
(d)	Step Bond – Security with a predetermined schedule of interest rate changes.
(e)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(f)	Interest Rate to be determined.
(g)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(i)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(j)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on futures contracts and swap contracts as follows:

Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at May 31, 2023:

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/ Unrealized Appreciation
Goldman Sachs	2.399%	CPI Urban Consumer NSA	10/4/2023		$1,248,431		$	9,566
Goldman Sachs	4.145%	CPI Urban Consumer NSA	4/15/2024		1,205,569			4,143
Total Unrealized Appreciation on Centrally Cleared CPI Swap Contracts							$	13,709
Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date		Notional Amount	Value/ Unrealized Depreciation
Goldman Sachs	2.750%	CPI Urban Consumer NSA	3/24/2024		$1,800,000		$	(1,545	)
Goldman Sachs	2.548%	CPI Urban Consumer NSA	3/27/2025		1,800,000			(7,263	)
Total Unrealized Depreciation on Centrally Cleared CPI Swap Contracts							$	(8,808	)

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 2-Year Treasury Note	September 2023	732	Long	$	150,605,381		$	150,666,188			$	60,807
U.S. 5-Year Treasury Note	September 2023	131	Short		(14,297,452	)		(14,289,234	)			8,218
Total Unrealized Appreciation on Futures Contracts											$	69,025

See Notes to Financial Statements. 227

Schedule of Investments (unaudited)(concluded)

SHORT DURATION CORE BOND FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1		Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities
Other	$	–	$	29,155,443		$	1,282,600	$	30,438,043
Remaining Industries		–		32,567,665			–		32,567,665
Corporate Bonds		–		224,713,611			–		224,713,611
Floating Rate Loans		–		21,966,570			–		21,966,570
Foreign Government Obligations		–		3,859,107			–		3,859,107
Government Sponsored Enterprises Collateralized Mortgage Obligations		–		7,523			–		7,523
Municipal Bonds		–		82,091			–		82,091
Non-Agency Commercial Mortgage-Backed Securities		–		22,968,911			–		22,968,911
U.S. Treasury Obligations		–		16,011,205			–		16,011,205
Short-Term Investments
Commercial Paper		–		10,880,237			–		10,880,237
Repurchase Agreements		–		4,372,313			–		4,372,313
Total	$	–	$	366,584,676		$	1,282,600	$	367,867,276
Other Financial Instruments
Centrally Cleared CPI Swap Contracts
Assets	$	–	$	13,709		$	–	$	13,709
Liabilities		–		(8,808	)		–		(8,808	)
Futures Contracts
Assets		69,025		–			–		69,025
Liabilities		–		–			–		–
Total	$	69,025	$	4,901		$	–	$	73,926

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

228 See Notes to Financial Statements.

Schedule of Investments (unaudited)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 98.60%
ASSET-BACKED SECURITIES 24.18%
Automobiles 8.25%
AmeriCredit Automobile Receivables Trust Series 2019-1 Class C	3.36%	2/18/2025	$	3,860,234	$	3,854,314
AmeriCredit Automobile Receivables Trust Series 2020-1 Class B	1.48%	1/21/2025		361,949		361,453
AmeriCredit Automobile Receivables Trust Series 2022-2 Class C	5.32%	4/18/2028		20,175,000		20,056,724
AmeriCredit Automobile Receivables Trust Series 2023-1 Class A2A	5.84%	10/19/2026		117,550,000		117,539,973
AmeriCredit Automobile Receivables Trust Series 2023-1 Class A3	5.62%	11/18/2027		70,765,000		71,012,338
AmeriCredit Automobile Receivables Trust Series 2023-1 Class B	5.57%	3/20/2028		27,795,000		27,798,258
AmeriCredit Automobile Receivables Trust Series 2023-1 Class C	5.80%	12/18/2028		27,200,000		27,337,529
Avis Budget Rental Car Funding AESOP LLC Series 2018-2A Class A†	4.00%	3/20/2025		22,004,000		21,756,486
Avis Budget Rental Car Funding AESOP LLC Series 2018-2A Class D†	3.04%	3/20/2025		59,000,000		56,431,159
Avis Budget Rental Car Funding AESOP LLC Series 2020-2A Class A†	2.02%	2/20/2027		22,560,000		20,676,001
BMW Vehicle Lease Trust Series 2023-1 Class A3	5.16%	11/25/2025		37,725,000		37,602,556
Capital One Prime Auto Receivables Trust Series 2022-2 Class A2A	3.74%	9/15/2025		73,970,683		73,149,631
Capital One Prime Auto Receivables Trust Series 2022-2 Class A3	3.66%	5/17/2027		127,880,000		124,479,811
Capital One Prime Auto Receivables Trust Series 2023-1 Class A2	5.20%	5/15/2026		64,275,000		63,974,739
Capital One Prime Auto Receivables Trust Series 2023-1 Class A3	4.87%	2/15/2028		72,135,000		71,996,082
CarMax Auto Owner Trust Series 2020-2 Class A3	1.70%	11/15/2024		270,216		269,802
CarMax Auto Owner Trust Series 2020-2 Class A4	2.05%	5/15/2025		35,731,000		35,157,643
CarMax Auto Owner Trust Series 2023-1 Class A3	4.75%	10/15/2027		64,375,000		64,055,674
Carvana Auto Receivables Trust Series 2021-N1 Class A	0.70%	1/10/2028		12,065,367		11,371,018
Carvana Auto Receivables Trust Series 2022-P1 Class A3	3.35%	2/10/2027		178,760,000		172,564,572
Carvana Auto Receivables Trust Series 2022-P2 Class A4	4.68%	2/10/2028		50,912,000		49,277,022

See Notes to Financial Statements. 229

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
Carvana Auto Receivables Trust Series 2022-P3 Class A3	4.61%	11/10/2027	$	42,209,000	$	41,152,163
CPS Auto Receivables Trust Series 2019-B Class E†	5.00%	3/17/2025		2,752,957		2,733,549
CPS Auto Receivables Trust Series 2019-C Class D†	3.17%	6/16/2025		467,303		466,782
CPS Auto Receivables Trust Series 2020-A Class E†	4.09%	12/15/2025		11,448,000		11,248,488
Credit Acceptance Auto Loan Trust Series 2021-3A Class A†	1.00%	5/15/2030		48,200,000		46,904,225
Drive Auto Receivables Trust Series 2019-2 Class D	3.69%	8/17/2026		11,550,488		11,531,293
Drive Auto Receivables Trust Series 2019-4 Class D	2.70%	2/16/2027		28,309,824		27,952,537
Drive Auto Receivables Trust Series 2021-1 Class C	1.02%	6/15/2027		24,299,766		23,913,412
Enterprise Fleet Financing LLC Series 2020-2 Class A2†	0.61%	7/20/2026		19,713,645		19,375,201
Enterprise Fleet Financing LLC Series 2022-3 Class A2†	4.38%	7/20/2029		40,650,000		39,888,276
Enterprise Fleet Financing LLC Series 2023-1 Class A2†	5.51%	1/22/2029		51,400,000		51,272,893
Exeter Automobile Receivables Trust Series 2021-2A Class C	0.98%	6/15/2026		27,259,352		26,608,066
Exeter Automobile Receivables Trust Series 2021-2A Class D	1.40%	4/15/2027		9,635,000		8,934,358
Exeter Automobile Receivables Trust Series 2021-3A Class E†	3.04%	12/15/2028		40,830,000		36,661,298
Exeter Automobile Receivables Trust Series 2022-3A Class A3	4.21%	1/15/2026		51,654,120		51,420,653
Exeter Automobile Receivables Trust Series 2022-3A Class B	4.86%	12/15/2026		51,653,000		50,993,112
First Investors Auto Owners Trust Series 2022-2A Class A†	6.26%	7/15/2027		101,898,223		102,103,334
Ford Credit Auto Owner Trust Series 2018-2 Class A†	3.47%	1/15/2030		97,245,000		97,012,283
Ford Credit Auto Owner Trust Series 2020-C Class A3	0.41%	7/15/2025		37,237,548		36,339,322
Ford Credit Auto Owner Trust Series 2022-1 Class A†	3.88%	11/15/2034		115,555,000		111,550,349
Ford Credit Auto Owner Trust Series REV1 2018-1 Class A†	3.19%	7/15/2031		39,589,000		38,179,762
Ford Credit Auto Owner Trust Series REV1 2021-1 Class A†	1.37%	10/17/2033		36,875,000		33,402,972
Ford Credit Auto Owner Trust Series REV2 2019-1 Class A†	3.52%	7/15/2030		89,401,000		88,039,762

230 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
GLS Auto Receivables Issuer Trust Series 2022-3A Class A2†	4.59%	5/15/2026	$	26,977,201	$	26,732,793
GM Financial Automobile Leasing Trust Series 2022-2 Class A3	3.42%	6/20/2025		91,915,000		90,132,235
GM Financial Automobile Leasing Trust Series 2022-3 Class A2A	4.01%	10/21/2024		88,993,607		88,402,298
GM Financial Automobile Leasing Trust Series 2022-3 Class A3	4.01%	9/22/2025		121,646,000		119,700,807
GM Financial Automobile Leasing Trust Series 2023-1 Class A2A	5.27%	6/20/2025		42,690,000		42,527,176
GM Financial Automobile Leasing Trust Series 2023-1 Class A3	5.16%	4/20/2026		59,670,000		59,555,654
GM Financial Automobile Leasing Trust Series 2023-2 Class A3	5.05%	7/20/2026		35,855,000		35,766,721
Hertz Vehicle Financing III LP Series 2021-2A Class A†	1.68%	12/27/2027		120,899,000		106,578,779
Hertz Vehicle Financing LLC Series 2021-1A Class A†	1.21%	12/26/2025		91,200,000		85,163,518
Hertz Vehicle Financing LLC Series 2021-1A Class D†	3.98%	12/26/2025		25,000,000		23,375,235
Honda Auto Receivables Owner Trust Series 2023-1 Class A2	5.22%	10/21/2025		38,300,000		38,151,415
Hyundai Auto Lease Securitization Trust Series 2022-C Class A2A†	4.34%	1/15/2025		60,071,132		59,606,110
LAD Auto Receivables Trust Series 2023-1A Class A2†	5.68%	10/15/2026		45,450,000		45,240,657
NextGear Floorplan Master Owner Trust Series 2023-1A Class A2†	5.74%	3/15/2028		97,480,000		98,829,825
Nissan Auto Lease Trust Series 2022-A Class A3	3.81%	5/15/2025		77,680,000		76,538,329
OneMain Direct Auto Receivables Trust Series 2021-1A Class A†	0.87%	7/14/2028		119,845,000		112,673,763
Prestige Auto Receivables Trust Series 2022-1A Class A2†	5.90%	7/15/2025		53,794,463		53,702,237
Prestige Auto Receivables Trust Series 2022-1A Class A3†	6.09%	5/15/2026		22,620,000		22,559,813
Santander Drive Auto Receivables Trust Series 2021-1 Class C	0.75%	2/17/2026		21,571,020		21,369,544
Santander Drive Auto Receivables Trust Series 2022-5 Class A2	3.98%	1/15/2025		21,085,538		21,052,737
Santander Drive Auto Receivables Trust Series 2022-6 Class A2	4.37%	5/15/2025		59,072,907		58,941,245

See Notes to Financial Statements. 231

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
Santander Drive Auto Receivables Trust Series 2022-6 Class B	4.72%		6/15/2027	$	7,500,000	$	7,360,767
Santander Drive Auto Receivables Trust Series 2022-6 Class C	4.96%		11/15/2028		5,600,000		5,501,011
Santander Retail Auto Lease Trust Series 2021-A Class A3†	0.51%		7/22/2024		100,295,560		98,833,582
Santander Retail Auto Lease Trust Series 2021-C Class A3†	0.50%		3/20/2025		19,010,490		18,757,135
Toyota Auto Loan Extended Note Trust Series 2020-1A Class A†	1.35%		5/25/2033		29,655,000		27,524,024
Tricolor Auto Securitization Trust Series 2023-1A Class A†	6.48%		8/17/2026		27,532,640		27,471,264
Westlake Automobile Receivables Trust Series 2021-2A Class A2A†	0.32%		4/15/2025		7,827,892		7,803,721
Westlake Automobile Receivables Trust Series 2021-2A Class C†	0.89%		7/15/2026		53,150,000		50,672,477
Westlake Automobile Receivables Trust Series 2022-2A Class A2A†	5.87%		7/15/2026		137,735,000		137,492,201
Westlake Automobile Receivables Trust Series 2022-2A Class B†	6.14%		3/15/2028		35,330,000		35,617,671
Westlake Automobile Receivables Trust Series 2022-2A Class C†	4.85%		9/15/2027		23,985,000		23,427,152
Westlake Automobile Receivables Trust Series 2023-1A Class A2A†	5.51%		6/15/2026		84,460,000		84,168,858
World Omni Select Auto Trust Series 2019-A Class C	2.38%		12/15/2025		8,348,812		8,267,230
World Omni Select Auto Trust Series 2019-A Class D	2.59%		12/15/2025		25,464,000		25,026,750
Total							3,872,931,609
Credit Card 1.45%
American Express Credit Account Master Trust Series 2022-2 Class A	3.39%		5/15/2027		97,593,000		94,923,529
BA Credit Card Trust Series 2022-A2 Class A2	5.00%		4/15/2028		56,065,000		56,389,016
Capital One Multi-Asset Execution Trust Series 2022-A2 Class A	3.49%		5/15/2027		153,288,000		149,278,216
Chase Issuance Trust Series 2022-A1 Class A	3.97%		9/15/2027		31,400,000		30,833,199
Citibank Credit Card Issuance Trust Series 2017-A6 Class A6	5.877% (1 mo. USD LIBOR + 0.77%	)#	5/14/2029		26,080,000		26,113,432
Discover Card Execution Note Trust Series 2022-A3 Class A3	3.56%		7/15/2027		98,691,000		96,141,288

232 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Credit Card (continued)
Discover Card Execution Note Trust Series 2022-A4 Class A	5.03%		10/15/2027	$	123,665,000	$	124,309,159
Golden Credit Card Trust Series 2018-4A Class A†	3.44%		8/15/2025		28,161,000		28,029,789
Newday Funding Master Issuer PLC Series 2021-1A Class A2†	6.166% (SOFR + 1.10%	)#	3/15/2029		19,600,000		19,527,844
Perimeter Master Note Business Trust Series 2019-2A Class A†	4.23%		5/15/2024		14,756,972		14,547,777
Perimeter Master Note Business Trust Series 2021-1A Class A†	3.19%		12/15/2026		46,000,000		42,781,447
Total							682,874,696
Other 13.72%
ACAM Ltd. Series 2019-FL1 Class A†	6.404% (1 mo. USD Term SOFR + 1.51%	)#	11/17/2034		5,928,006		5,868,726
ACAM Ltd. Series 2019-FL1 Class A†	6.261% (1 mo. USD LIBOR + 1.15%	)#	10/16/2036		102,830,000		101,133,591
ACAM Ltd. Series 2019-FL1 Class AS†	6.754% (1 mo. USD Term SOFR + 1.86%	)#	11/17/2034		25,000,000		24,131,316
Affirm Asset Securitization Trust Series 2021-B Class A†	1.03%		8/17/2026		89,250,000		86,227,210
Affirm Asset Securitization Trust Series 2022-A Class 1A†	4.30%		5/17/2027		30,000,000		28,608,252
Affirm Asset Securitization Trust Series 2022-X1 Class A†	1.75%		2/15/2027		14,976,592		14,583,266
AIMCO CLO Series 2018-BA Class AR†	6.36% (3 mo. USD LIBOR + 1.10%	)#	1/15/2032		69,000,000		68,281,770
AMMC CLO Ltd. Series 2020-23A Class A1R†	6.30% (3 mo. USD LIBOR + 1.04%	)#	10/17/2031		116,150,000		114,708,854
Anchorage Capital CLO 3-R Ltd. Series 2014-3RA Class A†	6.323% (3 mo. USD LIBOR + 1.05%	)#	1/28/2031		29,543,918		29,174,619
Anchorage Capital CLO 4-R Ltd. Series 2014-4RA Class A†	6.323% (3 mo. USD LIBOR + 1.05%	)#	1/28/2031		38,681,104		38,457,282
Apidos CLO XXII Series 2015-22A Class A1R†	6.31% (3 mo. USD LIBOR + 1.06%	)#	4/20/2031		79,418,000		78,407,239
Apidos CLO XXXI Series 2019-31A Class A1R†	6.36% (3 mo. USD LIBOR + 1.10%	)#	4/15/2031		86,400,000		85,069,521
Aqua Finance Trust Series 2019-A Class A†	3.14%		7/16/2040		10,336,753		9,726,270
Aqua Finance Trust Series 2021-A Class A†	1.54%		7/17/2046		68,728,102		61,240,939

See Notes to Financial Statements. 233

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class A†	6.207% (1 mo. USD LIBOR + 1.10%	)#	5/15/2036	$	40,530,000	$	39,633,671
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL3 Class A†	6.177% (1 mo. USD LIBOR + 1.07%	)#	8/15/2034		60,510,000		58,624,260
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL3 Class AS†	6.507% (1 mo. USD LIBOR + 1.40%	)#	8/15/2034		18,530,000		18,107,051
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL4 Class A†	6.457% (1 mo. USD LIBOR + 1.35%	)#	11/15/2036		138,500,000		135,618,369
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL1 Class A†	6.322% (30 day USD SOFR Average + 1.45%	)#	1/15/2037		89,340,000		87,736,144
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL2 Class A†	6.909% (1 mo. USD Term SOFR + 1.85%	)#	5/15/2037		67,630,000		66,805,387
ARES L CLO Ltd. Series 2018-50A Class AR†	6.31% (3 mo. USD LIBOR + 1.05%	)#	1/15/2032		117,390,000		115,629,150
Bain Capital Credit CLO Ltd. Series 2017-1A Class A1R†	6.22% (3 mo. USD LIBOR + 0.97%	)#	7/20/2030		82,071,990		81,217,646
Bain Capital Credit CLO Ltd. Series 2020-5A Class A1†	6.47% (3 mo. USD LIBOR + 1.22%	)#	1/20/2032		72,770,000		72,099,406
Ballyrock CLO Ltd. Series 2019-1A Class A1R†	6.29% (3 mo. USD LIBOR + 1.03%	)#	7/15/2032		138,960,000		136,368,292
Barings CLO Ltd. Series 2019-3A Class A1R†	6.32% (3 mo. USD LIBOR + 1.07%	)#	4/20/2031		7,210,000		7,108,431
BDS Ltd. Series 2021-FL7 Class A†	6.181% (1 mo. USD LIBOR + 1.07%	)#	6/16/2036		54,450,000		53,050,431
Benefit Street Partners CLO IV Ltd. Series 2014-IVA Class ARRR†	6.43% (3 mo. USD LIBOR + 1.18%	)#	1/20/2032		77,740,000		76,715,556
Benefit Street Partners CLO V-B Ltd. Series 2018-5BA Class A1A†	6.34% (3 mo. USD LIBOR + 1.09%	)#	4/20/2031		42,000,000		41,480,941
BlueMountain Fuji U.S. CLO I Ltd. Series 2017-1A Class A1R†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2029		66,449,765		65,550,604

234 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
BSPRT Issuer Ltd. Series 2021-FL7 Class A†	6.427% (1 mo. USD LIBOR + 1.32%	)#	12/15/2038	$	58,340,000	$	56,880,406
Carlyle Global Market Strategies CLO Ltd. Series 2015-1A Class AR3†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2031		75,279,242		74,375,591
Carlyle U.S. CLO Ltd. Series 2017-1A Class A1AR†	6.33% (3 mo. USD LIBOR + 1.08%	)#	4/20/2031		98,250,000		96,740,794
Carlyle U.S. CLO Ltd. Series 2017-2A Class A1R†	6.30% (3 mo. USD LIBOR + 1.05%	)#	7/20/2031		65,210,000		64,393,753
Carlyle U.S. CLO Ltd. Series 2017-3A Class A1AR†	6.15% (3 mo. USD LIBOR + 0.90%	)#	7/20/2029		22,653,887		22,400,873
Cedar Funding X CLO Ltd. Series 2019-10A Class AR†	6.35% (3 mo. USD LIBOR + 1.10%	)#	10/20/2032		10,610,000		10,426,855
Cedar Funding XIV CLO Ltd. Series 2021-14A Class A†	6.36% (3 mo. USD LIBOR + 1.10%	)#	7/15/2033		96,630,000		95,391,101
CF Hippolyta Issuer LLC Series 2021-1A Class A1†	1.53%		3/15/2061		37,697,902		32,986,441
CIFC Funding II Ltd. Series 2013-2A Class A1L2†	6.262% (3 mo. USD LIBOR + 1.00%	)#	10/18/2030		36,810,937		36,461,011
CIFC Funding Ltd. Series 2021-4A Class A†	6.31% (3 mo. USD LIBOR + 1.05%	)#	7/15/2033		46,100,000		45,466,125
CNH Equipment Trust Series 2022-B Class A2	3.94%		12/15/2025		42,883,710		42,541,043
Dell Equipment Finance Trust Series 2021-2 Class A2†	0.33%		12/22/2026		2,101,925		2,095,842
Dryden 55 CLO Ltd. Series 2018-55A Class A1†	6.28% (3 mo. USD LIBOR + 1.02%	)#	4/15/2031		20,170,207		19,982,545
Dryden CLO Ltd. Series 2019-72A Class AR†	6.401% (3 mo. USD LIBOR + 1.08%	)#	5/15/2032		61,070,000		60,112,611
Dryden Senior Loan Fund Series 2017-47A Class A1R†	6.24% (3 mo. USD LIBOR + 0.98%	)#	4/15/2028		74,420,129		73,671,780
Elmwood CLO X Ltd. Series 2021-3A Class A†	6.29% (3 mo. USD LIBOR + 1.04%	)#	10/20/2034		64,360,000		63,475,436
Fairstone Financial Issuance Trust Series I 2020-1A Class A†(a)	2.509%		10/20/2039	CAD	35,080,000		25,329,688
Galaxy XIX CLO Ltd. Series 2015-19A Class A1RR†	6.223% (3 mo. USD LIBOR + 0.95%	)#	7/24/2030	$	52,383,575		51,729,161
Greystone CRE Notes Ltd. Series 2021-FL3 Class A†	6.194% (1 mo. USD Term SOFR + 1.13%	)#	7/15/2039		98,670,000		95,980,011
Greywolf CLO VII Ltd. Series 2018-2A Class A1†	6.489% (3 mo. USD Term SOFR + 1.44%	)#	10/20/2031		37,250,000		36,964,941

See Notes to Financial Statements. 235

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Halcyon Loan Advisors Funding Ltd. Series 2015-2A Class BR†	6.905% (3 mo. USD LIBOR + 1.65%	)#	7/25/2027	$	745,212	$	746,865
Halcyon Loan Advisors Funding Ltd. Series 2017-2A Class A2†	6.96% (3 mo. USD LIBOR + 1.70%	)#	1/17/2030		23,027,000		22,672,925
HGI CRE CLO Ltd. Series 2021-FL2 Class A†	6.105% (1 mo. USD LIBOR + 1.00%	)#	9/17/2036		23,657,352		22,883,212
HPEFS Equipment Trust Series 2023-1A Class A2†	5.43%		8/20/2025		91,705,000		91,321,481
JFIN CLO Ltd. Series 2013-1A Class A1NR†	6.64% (3 mo. USD LIBOR + 1.39%	)#	1/20/2030		42,082,611		41,858,524
JFIN CLO Ltd. Series 2013-1A Class A2R†	7.45% (3 mo. USD LIBOR + 2.20%	)#	1/20/2030		37,290,505		36,894,414
KKR CLO Ltd. Series 24 Class A1R†	6.33% (3 mo. USD LIBOR + 1.08%	)#	4/20/2032		130,540,000		128,603,419
KKR CLO Ltd. Series 30A Class A1R†	6.28% (3 mo. USD LIBOR + 1.02%	)#	10/17/2031		18,250,000		18,014,776
KKR CLO Ltd. Series 38A Class A1†	6.306% (3 mo. USD Term SOFR + 1.32%	)#	4/15/2033		38,950,000		38,083,506
KREF Ltd. Series 2021-FL2 Class A†	6.178% (1 mo. USD LIBOR + 1.07%	)#	2/15/2039		74,690,000		72,078,673
KREF Ltd. Series 2021-FL2 Class AS†	6.408% (1 mo. USD LIBOR + 1.30%	)#	2/15/2039		37,030,000		35,085,925
LCM XXII Ltd. Series 22A Class A1R†	6.41% (3 mo. USD LIBOR + 1.16%	)#	10/20/2028		8,155,663		8,097,345
Lendmark Funding Trust Series 2021-1A Class A†	5.12%		7/20/2032		82,215,000		80,649,881
Lendmark Funding Trust Series 2021-2A Class A†	2.00%		4/20/2032		137,050,000		117,944,325
Lendmark Funding Trust Series 2023-1A Class A†	5.59%		5/20/2033		36,380,000		36,069,890
LMREC, Inc. Series 2019-CRE3 Class A†	6.527% (1 mo. USD LIBOR + 1.40%	)#	12/22/2035		24,083,043		23,826,786
LoanCore Issuer Ltd. Series 2022-CRE7 Class A†	6.456% (30 day USD SOFR Average + 1.55%	)#	1/17/2037		77,070,000		75,765,445
Madison Park Funding XI Ltd. Series 2013-11A Class AR2†	6.173% (3 mo. USD LIBOR + 0.90%	)#	7/23/2029		13,220,240		13,078,770
Madison Park Funding XVII Ltd. Series 2015-17A Class AR2†	6.261% (3 mo. USD LIBOR + 1.00%	)#	7/21/2030		45,666,594		45,141,429
Madison Park Funding XXV Ltd. Series 2017-25A Class A1R†	6.225% (3 mo. USD LIBOR + 0.97%	)#	4/25/2029		52,189,448		51,617,760

236 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Magnetite VII Ltd. Series 2012-7A Class A1R2†	6.06% (3 mo. USD LIBOR + 0.80%	)#	1/15/2028	$	29,580,618	$	29,336,578
Magnetite XXII Ltd. Series 2019-22A Class AR†	6.32% (3 mo. USD LIBOR + 1.06%	)#	4/15/2031		47,750,000		47,148,168
Magnetite Xxix Ltd. Series 2021-29A Class A†	6.25% (3 mo. USD LIBOR + 0.99%	)#	1/15/2034		79,670,000		78,556,418
Mariner Finance Issuance Trust Series 2021-BA Class A†	2.10%		11/20/2036		64,135,000		56,296,998
MF1 LLC Series 2022-FL9 Class A†	7.223% (1 mo. USD Term SOFR + 2.15%	)#	6/19/2037		89,910,000		89,626,783
MF1 Ltd. Series 2021-FL6 Class AS†	6.561% (1 mo. USD LIBOR + 1.45%	)#	7/16/2036		53,870,000		52,765,367
MF1 Ltd. Series 2021-FL7 Class A†	6.191% (1 mo. USD LIBOR + 1.08%	)#	10/16/2036		51,562,000		50,144,045
Mountain View CLO LLC Series 2017-1A Class AR†	6.35% (3 mo. USD LIBOR + 1.09%	)#	10/16/2029		27,401,874		27,208,475
Mountain View CLO LLC Series 2017-1A Class BR†	7.01% (3 mo. USD LIBOR + 1.75%	)#	10/16/2029		36,501,623		35,871,197
MVW Owner Trust Series 2017-1A Class A†	2.42%		12/20/2034		2,260,117		2,237,487
New Economy Assets Phase 1 Sponsor LLC Series 2021-1 Class A1†	1.91%		10/20/2061		70,550,000		60,989,036
New Economy Assets Phase 1 Sponsor LLC Series 2021-1 Class B1†	2.41%		10/20/2061		28,890,000		24,307,364
Newark BSL CLO 1 Ltd. Series 2016-1A Class A1R†	6.44% (3 mo. USD Term SOFR + 1.36%	)#	12/21/2029		62,150,606		61,663,516
Newark BSL CLO 2 Ltd. Series 2017-1A Class A1R†	6.225% (3 mo. USD LIBOR + 0.97%	)#	7/25/2030		45,346,274		44,911,792
OCP CLO Ltd. Series 2019-17A Class A1R†	6.29% (3 mo. USD LIBOR + 1.04%	)#	7/20/2032		157,030,000		154,303,576
Octagon Investment Partners 30 Ltd. Series 2017-1A Class A1R†	6.25% (3 mo. USD LIBOR + 1.00%	)#	3/17/2030		33,147,708		32,766,509
Octagon Investment Partners 32 Ltd. Series 2017-1A Class A1R†	6.21% (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		111,905,361		110,853,104
Octagon Investment Partners 49 Ltd. Series 2020-5A Class A1†	6.48% (3 mo. USD LIBOR + 1.22%	)#	1/15/2033		44,600,000		44,109,976
Octagon Investment Partners XIV Ltd. Series 2012-1A Class AARR†	6.21% (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		38,501,695		38,194,496

See Notes to Financial Statements. 237

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Octagon Investment Partners XXI Ltd. Series 2014-1A Class AAR3†	6.321% (3 mo. USD LIBOR + 1.00%	)#	2/14/2031	$	73,440,000	$	72,448,560
Octane Receivables Trust Series 2022-2A Class A†	5.11%		2/22/2028		45,746,671		45,227,359
OneMain Financial Issuance Trust Series 2018-2A Class A†	3.57%		3/14/2033		6,699,958		6,594,015
OneMain Financial Issuance Trust Series 2019-2A Class A†	3.14%		10/14/2036		75,865,000		69,597,565
OneMain Financial Issuance Trust Series 2020-2A Class A†	1.75%		9/14/2035		21,084,000		18,992,231
OneMain Financial Issuance Trust Series 2020-2A Class C†	2.76%		9/14/2035		14,375,000		12,643,300
OneMain Financial Issuance Trust Series 2021-1A Class A1†	1.55%		6/16/2036		18,050,000		15,802,658
OneMain Financial Issuance Trust Series 2021-3A Class A†	5.94%		5/15/2034		105,705,000		106,456,742
Orange Lake Timeshare Trust Series 2019-A Class A†	3.06%		4/9/2038		4,462,241		4,273,040
OZLM XVII Ltd. Series 2017 17A Class A1†	6.50% (3 mo. USD LIBOR + 1.25%	)#	7/20/2030		11,925,527		11,824,228
Pagaya AI Debt Trust Series 2022-1 Class A†	2.03%		10/15/2029		84,071,085		81,699,524
Perimeter Master Note Business	2.13%		5/15/2027		90,000,000		85,471,224
PFS Financing Corp. Series 2020-E Class A†	1.00%		10/15/2025		71,520,000		70,197,059
PFS Financing Corp. Series 2020-G Class A†	0.97%		2/15/2026		55,841,000		53,844,131
PFS Financing Corp. Series 2023-A Class A†	5.80%		3/15/2028		90,750,000		92,226,956
Planet Fitness Master Issuer LLC Series 2018-1A Class A2II†	4.666%		9/5/2048		18,105,845		17,444,835
Prima Capital CRE Securitization Ltd. Series 2013-3A Class C†	5.00%		10/24/2035		35,011,000		33,568,057	(b)
Rad CLO 2 Ltd. Series 2018-2A Class AR†	6.34% (3 mo. USD LIBOR + 1.08%	)#	10/15/2031		100,220,000		99,126,084
Romark CLO Ltd. Series 2017-1A Class A1R†	6.303% (3 mo. USD LIBOR + 1.03%	)#	10/23/2030		56,835,574		56,272,856
SCF Equipment Leasing LLC Series 2019-2A Class A2†	2.47%		4/20/2026		33,083,275		32,872,944
SCF Equipment Leasing LLC Series 2021-1A Class A3†	0.83%		8/21/2028		88,097,381		85,785,873
SCF Equipment Leasing LLC Series 2021-1A Class B†	1.37%		8/20/2029		14,900,000		13,763,784
SCF Equipment Leasing LLC Series 2022-1A Class A3†	2.92%		7/20/2029		111,160,000		106,045,951
SCF Equipment Leasing LLC Series 2022-1A Class B†	3.22%		10/21/2030		45,560,000		42,069,352
TCI-Flatiron CLO Ltd. Series 2017-1A Class AR†	6.29% (3 mo. USD LIBOR + 0.96%	)#	11/18/2030		49,780,287		49,332,265

238 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
TCI-Flatiron CLO Ltd. Series 2018-1A Class ANR†	6.359% (3 mo. USD LIBOR + 1.06%	)#	1/29/2032	$	32,300,000	$	31,839,543
TICP CLO XIV Ltd. Series 2019-14A Class A1R†	6.33% (3 mo. USD LIBOR + 1.08%	)#	10/20/2032		25,520,000		25,030,518
Upstart Securitization Trust Series 2021-2 Class A†	0.91%		6/20/2031		3,654,823		3,636,185
Upstart Securitization Trust Series 2021-5 Class A†	1.31%		11/20/2031		19,261,619		18,785,179
Venture 33 CLO Ltd. Series 2018-33A Class A1LR†	6.32% (3 mo. USD LIBOR + 1.06%	)#	7/15/2031		68,200,000		67,319,896
VERDE CLO Ltd. Series 2019-1A Class AR†	6.36% (3 mo. USD LIBOR + 1.10%	)#	4/15/2032		19,355,000		19,060,163
Verizon Master Trust Series 2022-7 Class A1A	5.23%		11/22/2027		89,315,000		89,230,490
Wind River CLO Ltd. Series 2013-1A Class A1RR†	6.23% (3 mo. USD LIBOR + 0.98%	)#	7/20/2030		93,228,694		92,477,398
Total							6,441,456,403
Rec Vehicle Loan 0.22%
Octane Receivables Trust Series 2021-1A Class A†	0.93%		3/22/2027		12,183,221		11,814,159
Octane Receivables Trust Series 2022-1A Class A2†	4.18%		3/20/2028		59,799,765		58,725,540
Octane Receivables Trust Series 2023-1A Class A†	5.87%		5/21/2029		31,867,624		31,766,534
Total							102,306,233
Student Loan 0.54%
Navient Private Education Refi Loan Trust Series 2020-FA Class A†	1.22%		7/15/2069		40,798,074		36,514,521
Navient Private Education Refi Loan Trust Series 2021-CA Class A†	1.06%		10/15/2069		103,231,342		90,032,802
Navient Private Education Refi Loan Trust Series 2022-A Class A†	2.23%		7/15/2070		93,278,739		82,050,423
Nelnet Student Loan Trust Series 2021-A Class APT1†	1.36%		4/20/2062		40,487,155		36,484,729
Towd Point Asset Trust Series 2018-SL1 Class A†	5.738% (1 mo. USD LIBOR + 0.60%	)#	1/25/2046		11,218,234		11,155,376
Total							256,237,851
Total Asset-Backed Securities (cost $11,659,216,137)							11,355,806,792
					Shares
COMMON STOCKS 0.00%
Oil, Gas & Consumable Fuels
Earthstone Energy, Inc. Class A* (cost $0)					430		5,164

See Notes to Financial Statements. 239

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
CORPORATE BONDS 51.47%
Agriculture 1.71%
BAT Capital Corp.	2.789%	9/6/2024	$	27,255,000	$	26,270,366
BAT Capital Corp.	3.222%	8/15/2024		185,456,000		180,054,294
BAT Capital Corp.	3.557%	8/15/2027		20,652,000		18,997,140
BAT International Finance PLC (United Kingdom)†(c)	3.95%	6/15/2025		26,816,000		25,975,513
Imperial Brands Finance PLC (United Kingdom)†(c)	3.125%	7/26/2024		166,275,000		160,563,824
Imperial Brands Finance PLC (United Kingdom)†(c)	6.125%	7/27/2027		114,046,000		116,090,527
Philip Morris International, Inc.	4.875%	2/13/2026		35,674,000		35,613,580
Philip Morris International, Inc.	5.00%	11/17/2025		16,316,000		16,349,056
Philip Morris International, Inc.	5.125%	11/17/2027		64,789,000		65,494,920
Reynolds American, Inc.	4.45%	6/12/2025		80,775,000		79,057,813
Viterra Finance BV (Netherlands)†(c)	2.00%	4/21/2026		47,780,000		42,516,162
Viterra Finance BV (Netherlands)†(c)	4.90%	4/21/2027		36,422,000		34,933,911
Total						801,917,106
Airlines 0.01%
Air Canada Pass-Through Trust Series 2015-2B Class B (Canada)†(c)	5.00%	6/15/2025		4,463,142		4,437,335
Apparel 0.04%
PVH Corp.	4.625%	7/10/2025		19,872,000		19,386,065
Auto Manufacturers 2.43%
Daimler Truck Finance North America LLC†	5.15%	1/16/2026		19,431,000		19,446,248
Ford Motor Credit Co. LLC	2.30%	2/10/2025		6,566,000		6,134,868
Ford Motor Credit Co. LLC	3.37%	11/17/2023		24,000,000		23,726,174
Ford Motor Credit Co. LLC	3.375%	11/13/2025		32,489,000		29,995,382
Ford Motor Credit Co. LLC	5.125%	6/16/2025		11,355,000		11,019,011
Ford Motor Credit Co. LLC	5.584%	3/18/2024		157,148,000		156,578,401
General Motors Co.	6.125%	10/1/2025		48,531,000		49,287,576
General Motors Financial Co., Inc.	2.75%	6/20/2025		74,459,000		70,598,412
General Motors Financial Co., Inc.	2.90%	2/26/2025		30,070,000		28,663,685
General Motors Financial Co., Inc.	3.95%	4/13/2024		35,702,000		35,148,049
General Motors Financial Co., Inc.	5.10%	1/17/2024		196,712,000		195,998,890
General Motors Financial Co., Inc.	5.40%	4/6/2026		29,734,000		29,611,216
Hyundai Capital America†	0.80%	1/8/2024		99,441,000		96,464,168
Hyundai Capital America†	0.875%	6/14/2024		84,025,000		79,961,942
Hyundai Capital America†	1.00%	9/17/2024		24,328,000		22,915,670
Hyundai Capital America†	1.25%	9/18/2023		98,674,000		97,289,658
Hyundai Capital America†	1.30%	1/8/2026		39,188,000		35,160,087

240 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Auto Manufacturers (continued)
Hyundai Capital America†	1.50%		6/15/2026	$	47,772,000	$	42,414,306
Hyundai Capital America†	1.80%		10/15/2025		10,345,000		9,493,336
Hyundai Capital America†	5.50%		3/30/2026		46,107,000		46,128,778
Hyundai Capital America†	5.875%		4/7/2025		13,781,000		13,866,612
Nissan Motor Co. Ltd. (Japan)†(c)	3.043%		9/15/2023		38,676,000		38,291,113
Total							1,138,193,582
Auto Parts & Equipment 0.08%
Clarios Global LP/Clarios U.S. Finance Co.†	8.50%		5/15/2027		37,478,000		37,644,740
Banks 19.37%
ABN AMRO Bank NV (Netherlands)†(c)	4.75%		7/28/2025		91,639,000		88,923,184
ABN AMRO Bank NV (Netherlands)†(c)	4.80%		4/18/2026		48,000,000		46,407,624
AIB Group PLC (Ireland)†(c)	4.263% (3 mo. USD LIBOR + 1.87%	)#	4/10/2025		122,186,000		119,368,612
Australia & New Zealand Banking Group Ltd. (Australia)†(c)	4.40%		5/19/2026		25,108,000		24,048,812
Australia & New Zealand Banking Group Ltd. (Australia)†(c)	4.50%		3/19/2024		12,844,000		12,674,090
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand (Mexico)†(c)	5.375%		4/17/2025		23,770,000		23,683,610
Bank of America Corp.	0.523% (SOFR + 0.41%	)#	6/14/2024		78,938,000		78,774,045
Bank of America Corp.	0.981% (SOFR + 0.91%	)#	9/25/2025		19,293,000		18,088,316
Bank of America Corp.	1.197% (SOFR + 1.01%	)#	10/24/2026		131,403,000		118,500,943
Bank of America Corp.	1.319% (SOFR + 1.15%	)#	6/19/2026		81,286,000		74,604,048
Bank of America Corp.	1.53% (SOFR + 0.65%	)#	12/6/2025		40,584,000		38,060,197
Bank of America Corp.	1.734% (SOFR + 0.96%	)#	7/22/2027		30,964,000		27,626,946
Bank of America Corp.	2.456% (3 mo. USD Term SOFR + 1.13%	)#	10/22/2025		54,308,000		51,830,990
Bank of America Corp.	3.093% (3 mo. USD Term SOFR + 1.09%	)#	10/1/2025		51,089,000		49,269,383
Bank of America Corp.	3.366% (3 mo. USD Term SOFR + 1.07%	)#	1/23/2026		109,555,000		105,314,515
Bank of America Corp.	3.384% (SOFR + 1.33%	)#	4/2/2026		166,560,000		160,350,238

See Notes to Financial Statements. 241

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Bank of America Corp.	3.841% (SOFR + 1.11%	)#	4/25/2025	$	71,671,000	$	70,465,309
Bank of America Corp.	3.864% (3 mo. USD Term SOFR + 1.20%	)#	7/23/2024		140,556,000		140,131,326
Bank of America Corp.	3.95%		4/21/2025		97,385,000		94,918,471
Bank of America Corp.	4.00%		1/22/2025		47,000,000		45,933,589
Bank of America Corp.	4.827% (SOFR + 1.75%	)#	7/22/2026		10,000,000		9,896,318
Bank of America Corp.	4.948% (SOFR + 2.04%	)#	7/22/2028		77,426,000		76,635,667
Bank of Ireland Group PLC (Ireland)†(c)	2.029% (1 yr. CMT + 1.10%	)#	9/30/2027		56,942,000		49,578,886
Bank of Ireland Group PLC (Ireland)†(c)	4.50%		11/25/2023		35,213,000		34,895,590
Bank of Ireland Group PLC (Ireland)†(c)	6.253% (1 yr. CMT + 2.65%	)#	9/16/2026		28,691,000		28,594,635
Bank of Montreal (Canada)(c)	3.70%		6/7/2025		56,322,000		54,602,532
Bank of Montreal (Canada)(c)	4.25%		9/14/2024		81,709,000		80,407,161
Bank of Montreal (Canada)(c)	5.20%		12/12/2024		56,741,000		56,520,552
Bank of Montreal (Canada)(c)(d)	5.30%		6/5/2026		59,540,000		59,634,553
Bank of New York Mellon	5.148%	#	5/22/2026		29,455,000		29,425,351
Bank of New York Mellon Corp.	4.414% (SOFR + 1.35%	)#	7/24/2026		22,289,000		21,853,827
Bank of New York Mellon Corp.	4.543% (SOFR + 1.17%	)#	2/1/2029		40,155,000		39,507,148
Bank of New York Mellon Corp.	4.947% (SOFR + 1.03%	)#	4/26/2027		17,917,000		17,863,204
Bank of Nova Scotia (Canada)(c)	4.75%		2/2/2026		40,233,000		39,978,179
BankUnited, Inc.	4.875%		11/17/2025		66,202,000		55,421,151
Barclays plc (United Kingdom)(c)	2.852% (SOFR + 2.71%	)#	5/7/2026		44,123,000		41,484,895
Barclays plc (United Kingdom)(c)	3.932% (3 mo. USD LIBOR + 1.61%	)#	5/7/2025		11,594,000		11,348,732
Barclays plc (United Kingdom)(c)	4.836%		5/9/2028		10,192,000		9,442,474
Barclays plc (United Kingdom)(c)	5.20%		5/12/2026		93,499,000		90,790,893
Barclays plc (United Kingdom)(c)	5.829% (SOFR + 2.21%	)#	5/9/2027		77,116,000		76,981,536
BBVA Bancomer SA†	4.375%		4/10/2024		22,165,000		21,924,397
BNP Paribas SA (France)†(c)	1.323% (SOFR + 1.00%	)#	1/13/2027		20,584,000		18,371,809
BNP Paribas SA (France)†(c)	2.219% (SOFR + 2.07%	)#	6/9/2026		13,505,000		12,541,778

242 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
BNP Paribas SA (France)†(c)	2.819% (3 mo. USD LIBOR + 1.11%	)#	11/19/2025	$	36,837,000	$	35,114,822
BNP Paribas SA (France)†(c)	4.375%		5/12/2026		11,186,000		10,725,222
BNP Paribas SA (France)†(c)	5.125% (1 yr. CMT + 1.45%	)#	1/13/2029		38,699,000		38,607,086
BPCE SA (France)†(c)	2.375%		1/14/2025		14,304,000		13,480,597
BPCE SA (France)†(c)	4.50%		3/15/2025		53,678,000		51,805,709
BPCE SA (France)†(c)	4.875%		4/1/2026		22,232,000		21,532,747
BPCE SA (France)†(c)	5.15%		7/21/2024		5,000,000		4,895,941
BPCE SA (France)†(c)	5.975% (SOFR + 2.10%	)#	1/18/2027		58,362,000		58,338,193
Canadian Imperial Bank of Commerce (Canada)(c)	3.945%		8/4/2025		77,817,000		75,418,566
Canadian Imperial Bank of Commerce (Canada)(c)	5.001%		4/28/2028		62,884,000		62,246,461
Canadian Imperial Bank of Commerce (Canada)(c)	5.144%		4/28/2025		84,123,000		83,670,120
Citigroup, Inc.	3.106% (SOFR + 2.84%	)#	4/8/2026		261,002,000		250,326,812
Citigroup, Inc.	3.29% (SOFR + 1.53%	)#	3/17/2026		15,948,000		15,347,248
Citigroup, Inc.	3.352% (3 mo. USD Term SOFR + 1.16%	)#	4/24/2025		84,116,000		82,235,805
Citigroup, Inc.	3.875%		3/26/2025		33,016,000		32,068,868
Citigroup, Inc.	3.887% (3 mo. USD Term SOFR + 1.82%	)#	1/10/2028		17,272,000		16,451,288
Citigroup, Inc.	4.14% (SOFR + 1.37%	)#	5/24/2025		27,692,000		27,255,541
Citigroup, Inc.	4.40%		6/10/2025		170,806,000		166,895,291
Citigroup, Inc.	5.50%		9/13/2025		37,065,000		37,079,791
Citigroup, Inc.	5.61% (SOFR + 1.55%	)#	9/29/2026		12,000,000		12,093,405
Citizens Bank NA	4.575% (SOFR + 2.00%	)#	8/9/2028		50,348,000		45,925,708
Citizens Bank NA	6.064% (SOFR + 1.45%	)#	10/24/2025		31,438,000		29,524,243
Credit Agricole SA (France)†(c)	4.375%		3/17/2025		89,787,000		86,940,151
Credit Suisse AG	0.52%		8/9/2023		25,000,000		24,678,125
Credit Suisse AG	3.625%		9/9/2024		5,668,000		5,431,588
Credit Suisse AG	5.465% (SOFR + 0.39%	)#	2/2/2024		20,893,000		20,483,572
Credit Suisse Group AG (Switzerland)†(c)	2.193% (SOFR + 2.04%	)#	6/5/2026		42,530,000		38,634,847

See Notes to Financial Statements. 243

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Credit Suisse Group AG (Switzerland)†(c)		2.593% (SOFR + 1.56%	)#	9/11/2025	$	27,460,000	$	25,912,904
Credit Suisse Group AG (Switzerland)(c)		3.80%		6/9/2023		21,735,000		21,718,699
Credit Suisse Group AG (Switzerland)†(c)		4.207% (3 mo. USD LIBOR + 1.24%	)#	6/12/2024		17,160,000		16,955,796
Danske Bank AS (Denmark)†(c)		0.976% (1 yr. CMT + .55%	)#	9/10/2025		46,616,000		43,470,505
Danske Bank AS (Denmark)†(c)		1.226% (1 yr. CMT + 1.00%	)#	6/22/2024		51,642,000		51,509,472
Danske Bank AS (Denmark)†(c)		1.621% (1 yr. CMT + 1.35%	)#	9/11/2026		46,515,000		41,849,548
Danske Bank AS (Denmark)†(c)	3.244% (3 mo. USD LIBOR + 1.59%		)#	12/20/2025		137,918,000		131,463,647
Danske Bank AS (Denmark)†(c)		4.298% (1 yr. CMT + 1.75%	)#	4/1/2028		37,345,000		35,100,022
Danske Bank AS (Denmark)†(c)		5.375%		1/12/2024		66,319,000		65,813,607
Danske Bank AS (Denmark)†(c)		6.466% (1 yr. CMT + 2.10%	)#	1/9/2026		24,918,000		24,962,573
Discover Bank		4.25%		3/13/2026		17,999,000		17,171,398
Federation des Caisses Desjardins du Quebec (Canada)†(c)		5.70%		3/14/2028		50,861,000		51,338,979
First-Citizens Bank & Trust Co.		3.929% (SOFR + 3.83%	)#	6/19/2024		30,237,000		29,881,230
Goldman Sachs Group, Inc.		0.657% (SOFR + 0.51%	)#	9/10/2024		78,938,000		77,739,023
Goldman Sachs Group, Inc.		1.948% (SOFR + 0.91%	)#	10/21/2027		122,648,000		109,289,591
Goldman Sachs Group, Inc.		2.64% (SOFR + 1.11%	)#	2/24/2028		38,073,000		34,539,877
Goldman Sachs Group, Inc.	3.272% (3 mo. USD Term SOFR + 1.46%		)#	9/29/2025		34,934,000		33,797,895
Goldman Sachs Group, Inc.		3.50%		4/1/2025		69,748,000		67,386,856
Goldman Sachs Group, Inc.	4.223% (3 mo. USD Term SOFR + 1.56%		)#	5/1/2029		70,417,000		66,788,946
Goldman Sachs Group, Inc.		4.387% (SOFR + 1.51%	)#	6/15/2027		24,825,000		24,354,404
Goldman Sachs Group, Inc.		5.751% (SOFR + 0.70%	)#	1/24/2025		77,022,000		76,778,403
HSBC Holdings PLC (United Kingdom)(c)		0.732% (SOFR + 0.53%	)#	8/17/2024		29,988,000		29,624,930
HSBC Holdings PLC (United Kingdom)(c)		0.976% (SOFR + 0.71%	)#	5/24/2025		22,757,000		21,626,592

244 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
HSBC Holdings PLC (United Kingdom)(c)		3.803% (3 mo. USD LIBOR + 1.21%	)#	3/11/2025	$	82,990,000	$	81,460,909
HSBC USA, Inc.		5.625%		3/17/2025		39,963,000		40,055,687
Huntington Bancshares, Inc.		4.443% (SOFR + 1.97%	)#	8/4/2028		33,784,000		31,421,995
Huntington National Bank		4.008% (SOFR + 1.21%	)#	5/16/2025		29,134,000		27,486,472
Huntington National Bank		5.699% (SOFR + 1.22%	)#	11/18/2025		80,138,000		76,111,066
Intesa Sanpaolo SpA (Italy)†(c)		3.25%		9/23/2024		20,481,000		19,662,008
Intesa Sanpaolo SpA (Italy)†(c)		5.017%		6/26/2024		169,412,000		164,828,653
Intesa Sanpaolo SpA (Italy)†(c)		5.71%		1/15/2026		78,550,000		74,828,329
JPMorgan Chase & Co.		0.768% (SOFR + 0.49%	)#	8/9/2025		78,538,000		73,934,071
JPMorgan Chase & Co.	0.824% (3 mo. USD Term SOFR + 0.54%		)#	6/1/2025		91,927,000		87,361,709
JPMorgan Chase & Co.	3.797% (3 mo. USD Term SOFR + 0.89%		)#	7/23/2024		52,372,000		52,222,746
JPMorgan Chase & Co.		3.845% (SOFR + 0.98%	)#	6/14/2025		95,901,000		94,020,154
JPMorgan Chase & Co.		4.851% (SOFR + 1.99%	)#	7/25/2028		76,438,000		76,077,693
JPMorgan Chase & Co.		6.012% (SOFR + 0.92%	)#	2/24/2026		57,956,000		58,025,433
JPMorgan Chase & Co.		6.272% (SOFR + 1.18%	)#	2/24/2028		38,901,000		39,150,215
Lloyds Banking Group PLC (United Kingdom)(c)		4.582%		12/10/2025		18,348,000		17,519,785
Lloyds Banking Group PLC (United Kingdom)(c)		4.65%		3/24/2026		29,589,000		28,274,818
M&T Bank Corp.		4.553% (SOFR + 1.78%	)#	8/16/2028		43,711,000		40,887,770
Macquarie Bank Ltd. (Australia)†(c)		4.875%		6/10/2025		32,811,000		31,948,313
Macquarie Group Ltd. (Australia)†(c)		1.201% (SOFR + 0.69%	)#	10/14/2025		40,033,000		37,497,465
Macquarie Group Ltd. (Australia)†(c)		1.34% (SOFR + 1.07%	)#	1/12/2027		67,569,000		60,506,312
Macquarie Group Ltd. (Australia)†(c)		3.763% (3 mo. USD LIBOR + 1.37%	)#	11/28/2028		29,817,000		27,601,663
Macquarie Group Ltd. (Australia)†(c)		5.108% (SOFR + 2.21%	)#	8/9/2026		83,107,000		82,248,958
Manufacturers & Traders Trust Co.		4.65%		1/27/2026		202,227,000		192,738,343
Manufacturers & Traders Trust Co.		4.70%		1/27/2028		60,402,000		56,576,300

See Notes to Financial Statements. 245

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Mitsubishi UFJ Financial Group, Inc. (Japan)(c)	0.953% (1 yr. CMT + .55%	)#	7/19/2025	$	58,686,000	$	55,410,076
Mitsubishi UFJ Financial Group, Inc. (Japan)(c)	0.962% (1 yr. CMT + .45%	)#	10/11/2025		5,000,000		4,669,646
Mitsubishi UFJ Financial Group, Inc. (Japan)(c)	4.788% (1 yr. CMT + 1.70%	)#	7/18/2025		99,237,000		98,210,956
Mitsubishi UFJ Financial Group, Inc. (Japan)(c)	5.063% (1 yr. CMT + 1.55%	)#	9/12/2025		58,107,000		57,617,361
Mitsubishi UFJ Financial Group, Inc. (Japan)(c)	5.719% (1 yr. CMT + 1.08%	)#	2/20/2026		51,520,000		51,513,680
Morgan Stanley	0.79% (SOFR + 0.53%	)#	5/30/2025		94,058,000		89,174,470
Morgan Stanley	0.791% (SOFR + 0.51%	)#	1/22/2025		98,685,000		95,508,300
Morgan Stanley	3.62% (SOFR + 1.16%	)#	4/17/2025		46,263,000		45,338,030
Morgan Stanley	5.05% (SOFR + 1.30%	)#	1/28/2027		21,989,000		21,929,837
Morgan Stanley	5.123% (SOFR + 1.73%	)#	2/1/2029		32,276,000		32,133,039
Morgan Stanley	6.138% (SOFR + 1.77%	)#	10/16/2026		34,700,000		35,468,577
National Securities Clearing Corp.†	5.00%		5/30/2028		15,174,000		15,246,629
NatWest Group PLC (United Kingdom)(c)	4.269% (3 mo. USD LIBOR + 1.76%	)#	3/22/2025		136,071,000		133,802,190
NatWest Group PLC (United Kingdom)(c)	4.519% (3 mo. USD LIBOR + 1.55%	)#	6/25/2024		24,877,000		24,832,391
NatWest Group PLC (United Kingdom)(c)	5.847% (1 yr. CMT + 1.35%	)#	3/2/2027		22,160,000		22,237,195
NatWest Markets PLC (United Kingdom)†(c)	0.80%		8/12/2024		23,409,000		22,122,336
NatWest Markets PLC (United Kingdom)†(c)	3.479%		3/22/2025		41,245,000		39,671,322
Nordea Bank Abp (Finland)†(c)	3.60%		6/6/2025		37,771,000		36,441,253
Popular, Inc.	6.125%		9/14/2023		10,033,000		10,009,379
Royal Bank of Canada (Canada)(c)	4.24%		8/3/2027		70,098,000		68,153,241
Royal Bank of Canada (Canada)(c)	4.875%		1/12/2026		59,095,000		58,823,111
Royal Bank of Canada (Canada)(c)	6.00%		11/1/2027		35,670,000		36,979,368
Santander Holdings USA, Inc.	2.49% (SOFR + 1.25%	)#	1/6/2028		35,038,000		30,653,725
Santander Holdings USA, Inc.	3.244%		10/5/2026		38,058,000		34,559,022
Santander Holdings USA, Inc.	3.50%		6/7/2024		33,117,000		32,196,221

246 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Santander Holdings USA, Inc.	5.807% (SOFR + 2.33%	)#	9/9/2026	$	25,410,000	$	25,094,659
Santander U.K. Group Holdings PLC (United Kingdom)(c)	1.089% (SOFR + 0.79%	)#	3/15/2025		13,611,000		12,998,265
Santander U.K. Group Holdings PLC (United Kingdom)(c)	2.469% (SOFR + 1.22%	)#	1/11/2028		37,697,000		33,129,959
Santander U.K. Group Holdings PLC (United Kingdom)†(c)	4.75%		9/15/2025		42,889,000		41,117,994
Santander U.K. Group Holdings PLC (United Kingdom)(c)	4.796% (3 mo. USD LIBOR + 1.57%	)#	11/15/2024		10,000,000		9,921,820
Santander U.K. Group Holdings PLC (United Kingdom)(c)	6.534% (SOFR + 2.60%	)#	1/10/2029		58,887,000		59,890,715
Societe Generale SA (France)†(c)	2.226% (1 yr. CMT + 1.05%	)#	1/21/2026		76,944,000		71,454,252
Standard Chartered PLC (United Kingdom)†(c)	0.991% (1 yr. CMT + 0.78%	)#	1/12/2025		100,594,000		97,318,885
Standard Chartered PLC (United Kingdom)†(c)	1.214% (1 yr. CMT + 0.88%	)#	3/23/2025		10,244,000		9,845,879
Standard Chartered PLC (United Kingdom)†(c)	2.819% (3 mo. USD LIBOR + 1.21%	)#	1/30/2026		8,168,000		7,724,091
Standard Chartered PLC (United Kingdom)†(c)	5.20%		1/26/2024		15,029,000		14,881,944
State Street Corp.	5.104% (SOFR + 1.13%	)#	5/18/2026		51,586,000		51,473,802
Svenska Handelsbanken AB (Sweden)†(c)	3.65%		6/10/2025		56,299,000		54,392,148
Toronto-Dominion Bank (Canada)(c)	3.766%		6/6/2025		90,096,000		87,584,260
Toronto-Dominion Bank (Canada)(c)	4.693%		9/15/2027		58,711,000		57,648,870
Truist Financial Corp.	4.26% (SOFR + 1.46%	)#	7/28/2026		70,757,000		68,058,704
Truist Financial Corp.	4.873% (SOFR + 1.44%	)#	1/26/2029		23,640,000		22,898,898
U.S. Bancorp	4.548% (SOFR + 1.66%	)#	7/22/2028		53,941,000		51,880,592
U.S. Bancorp	4.653% (SOFR + 1.23%	)#	2/1/2029		59,954,000		57,859,059
UBS AG (United Kingdom)†(c)	0.70%		8/9/2024		30,000,000		28,249,802
UBS AG (Switzerland)(c)	5.125%		5/15/2024		176,654,000		174,064,252
UBS Group AG (Switzerland)†(c)	1.494% (1 yr. CMT + 0.85%	)#	8/10/2027		41,679,000		35,959,409

See Notes to Financial Statements. 247

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
UBS Group AG (Switzerland)†(c)	4.125%		9/24/2025	$	52,464,000	$	50,414,250
UBS Group AG (Switzerland)†(c)	4.125%		4/15/2026		48,362,000		46,287,391
UBS Group AG (Switzerland)†(c)	4.488% (1 yr. CMT + 1.55%	)#	5/12/2026		29,178,000		28,215,056
UBS Group AG (Switzerland)†(c)	4.703% (1 yr. CMT + 2.05%	)#	8/5/2027		12,475,000		11,997,982
UBS Group AG (Switzerland)†(c)	4.751% (1 yr. CMT + 1.75%	)#	5/12/2028		10,000,000		9,588,168
UBS Group AG (Switzerland)†(c)	5.711% (1 yr. CMT + 1.55%	)#	1/12/2027		113,641,000		112,750,673
UniCredit SpA (Italy)†(c)	7.83%		12/4/2023		38,610,000		38,778,726
Wells Fargo & Co.	2.188% (SOFR + 2.00%	)#	4/30/2026		62,273,000		58,619,170
Wells Fargo & Co.	4.54% (SOFR + 1.56%	)#	8/15/2026		93,715,000		92,159,976
Wells Fargo & Co.	4.808% (SOFR + 1.98%	)#	7/25/2028		77,683,000		76,499,334
Total							9,096,865,367
Biotechnology 0.62%
Amgen, Inc.	5.15%		3/2/2028		76,424,000		77,084,125
Amgen, Inc.	5.25%		3/2/2025		36,098,000		36,213,372
Amgen, Inc.	5.507%		3/2/2026		76,424,000		76,445,309
Illumina, Inc.	5.75%		12/13/2027		64,867,000		66,099,716
Illumina, Inc.	5.80%		12/12/2025		36,106,000		36,540,368
Total							292,382,890
Building Materials 0.13%
Vulcan Materials Co.	5.80%		3/1/2026		60,402,000		60,581,830
Chemicals 0.63%
Celanese U.S. Holdings LLC	5.90%		7/5/2024		150,438,000		150,306,552
FMC Corp.	5.15%		5/18/2026		19,658,000		19,469,072
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		85,736,000		76,509,619
Orbia Advance Corp. SAB de CV (Mexico)†(c)	1.875%		5/11/2026		36,739,000		33,147,763
Sasol Financing USA LLC	5.875%		3/27/2024		18,376,000		18,074,604
Total							297,507,610
Commercial Services 0.32%
Adani Ports & Special Economic Zone Ltd. (India)†(c)	3.375%		7/24/2024		20,115,000		19,406,345
Global Payments, Inc.	2.65%		2/15/2025		15,782,000		15,035,700
Global Payments, Inc.	4.95%		8/15/2027		23,181,000		22,823,406

248 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Commercial Services (continued)
Sabre Global, Inc.†	7.375%	9/1/2025	$	21,246,000	$	17,986,683
Triton Container International Ltd.†	0.80%	8/1/2023		39,505,000		38,872,759
Triton Container International Ltd.†	1.15%	6/7/2024		32,498,000		30,440,832
Triton Container International Ltd.†	2.05%	4/15/2026		8,150,000		7,176,160
Total						151,741,885
Computers 0.30%
Dell International LLC/EMC Corp.	4.90%	10/1/2026		19,101,000		18,981,219
Dell International LLC/EMC Corp.	6.02%	6/15/2026		87,487,000		89,573,512
Hewlett Packard Enterprise Co.	5.90%	10/1/2024		33,269,000		33,364,614
Total						141,919,345
Distribution/Wholesale 0.07%
LKQ Corp.†	5.75%	6/15/2028		32,183,000		32,034,740
Diversified Financial Services 4.16%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(c)	2.875%	8/14/2024		30,354,000		29,169,457
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(c)	3.15%	2/15/2024		19,000,000		18,631,297
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(c)	3.50%	1/15/2025		22,804,000		21,813,209
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(c)	4.875%	1/16/2024		27,911,000		27,674,625
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(c)(d)	5.75%	6/6/2028		30,450,000		30,212,143
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(c)	6.50%	7/15/2025		23,021,000		23,202,988
AerCap Ireland Capital DAC/AerCap Global Aviation Trust Series 3NC1 (Ireland)(c)	1.75%	10/29/2024		62,466,000		58,650,321
Air Lease Corp.	4.25%	2/1/2024		14,901,000		14,724,609
Air Lease Corp.	5.85%	12/15/2027		29,247,000		29,251,034
Aircastle Ltd.	4.40%	9/25/2023		52,900,000		52,475,799
Aircastle Ltd.†	5.25%	8/11/2025		62,465,000		60,698,514
Ally Financial, Inc.	1.45%	10/2/2023		11,837,000		11,648,966
Ally Financial, Inc.	3.875%	5/21/2024		68,920,000		66,717,093
Ally Financial, Inc.	5.125%	9/30/2024		91,001,000		88,912,975
Ally Financial, Inc.	5.75%	11/20/2025		142,452,000		138,471,422
American Express Co.	3.95%	8/1/2025		43,864,000		42,821,530
American Express Co.	4.90%	2/13/2026		48,359,000		48,334,737

See Notes to Financial Statements. 249

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Diversified Financial Services (continued)
American Express Co.	4.99%		5/1/2026	$	95,939,000	$	95,752,226
American Express Co.	5.85%		11/5/2027		18,746,000		19,493,601
Aviation Capital Group LLC†	1.95%		1/30/2026		84,521,000		75,540,692
Aviation Capital Group LLC†	5.50%		12/15/2024		56,550,000		55,488,590
Aviation Capital Group LLC†	6.25%		4/15/2028		30,432,000		30,504,137
Avolon Holdings Funding Ltd. (Ireland)†(c)	2.125%		2/21/2026		23,269,000		20,482,566
Avolon Holdings Funding Ltd. (Ireland)†(c)	3.95%		7/1/2024		20,307,000		19,648,771
Avolon Holdings Funding Ltd. (Ireland)†(c)	4.25%		4/15/2026		31,030,000		28,747,435
Avolon Holdings Funding Ltd. (Ireland)†(c)	4.375%		5/1/2026		19,759,000		18,258,460
Avolon Holdings Funding Ltd. (Ireland)†(c)	5.125%		10/1/2023		112,721,000		112,237,402
Avolon Holdings Funding Ltd. (Ireland)†(c)	5.25%		5/15/2024		48,720,000		47,978,124
Avolon Holdings Funding Ltd. (Ireland)†(c)	5.50%		1/15/2026		20,268,000		19,524,943
Avolon Holdings Funding Ltd. (Ireland)†(c)	6.375%		5/4/2028		44,844,000		43,851,922
Bread Financial Holdings, Inc.†	4.75%		12/15/2024		67,956,000		63,801,354
Bread Financial Holdings, Inc.†	7.00%		1/15/2026		57,232,000		52,134,632
Capital One Financial Corp.	4.166% (SOFR + 1.37%	)#	5/9/2025		44,309,000		43,142,251
Capital One Financial Corp.	5.571% (SOFR + 0.69%	)#	12/6/2024		51,930,000		50,789,198
Navient Corp.	5.875%		10/25/2024		80,407,000		78,718,228
Navient Corp.	6.125%		3/25/2024		100,605,000		98,710,467
Navient Corp.	6.75%		6/25/2025		15,905,000		15,407,003
Navient Corp.	7.25%		9/25/2023		30,672,000		30,651,932
OneMain Finance Corp.	6.125%		3/15/2024		51,823,000		50,687,232
Park Aerospace Holdings Ltd. (Ireland)†(c)	5.50%		2/15/2024		120,847,000		119,568,202
Total							1,954,530,087
Electric 4.05%
AES Corp.†	3.30%		7/15/2025		75,993,000		72,127,616
AES Corp.	5.45%		6/1/2028		50,075,000		49,469,174
Alexander Funding Trust†	1.841%		11/15/2023		88,422,000		86,401,124
American Electric Power Co., Inc.	2.031%		3/15/2024		36,211,000		35,049,194
American Electric Power Co., Inc.	5.699%		8/15/2025		46,726,000		42,738,420
American Electric Power Co., Inc.	5.75%		11/1/2027		22,943,000		23,660,741
Black Hills Corp.	5.95%		3/15/2028		42,913,000		44,164,458
Calpine Corp.†	5.25%		6/1/2026		10,755,000		10,439,208
Cleveland Electric Illuminating Co.	5.50%		8/15/2024		10,475,000		10,491,690
Comision Federal de Electricidad (Mexico)(c)	4.75%		2/23/2027		15,983,000		15,289,418
Constellation Energy Generation LLC	5.60%		3/1/2028		40,111,000		41,004,584

250 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Electric (continued)
DTE Energy Co.	4.22%	11/1/2024	$	37,572,000	$	36,971,961
DTE Energy Co.	4.875%	6/1/2028		57,506,000		56,899,953
Duke Energy Corp.	2.65%	9/1/2026		31,488,000		29,252,132
Duke Energy Corp.	4.30%	3/15/2028		25,827,000		24,992,504
Duke Energy Corp.	5.00%	12/8/2025		9,430,000		9,427,004
Electricite de France SA (France)†(c)	5.70%	5/23/2028		98,145,000		99,060,739
Eskom Holdings SOC Ltd. (South Africa)†(c)	7.125%	2/11/2025		31,262,000		30,027,557
Evergy Missouri West, Inc.†	5.15%	12/15/2027		23,835,000		23,934,598
Eversource Energy	4.75%	5/15/2026		22,000,000		21,800,710
Exelon Corp.	5.15%	3/15/2028		39,656,000		39,971,810
Fells Point Funding Trust†	3.046%	1/31/2027		92,084,946		85,691,753
FirstEnergy Corp.	2.05%	3/1/2025		71,006,000		66,905,483
FirstEnergy Transmission LLC†	4.35%	1/15/2025		125,751,000		122,860,493
Florida Power & Light Co.	4.40%	5/15/2028		32,524,000		32,287,516
Florida Power & Light Co.	4.45%	5/15/2026		30,403,000		30,243,255
IPALCO Enterprises, Inc.	3.70%	9/1/2024		18,119,000		17,531,631
Israel Electric Corp. Ltd. (Israel)†(c)	6.875%	6/21/2023		31,698,000		31,700,441
ITC Holdings Corp.†	4.95%	9/22/2027		30,656,000		30,550,749
Jersey Central Power & Light Co.†	4.70%	4/1/2024		62,463,000		61,765,333
Metropolitan Edison Co.†	5.20%	4/1/2028		15,000,000		15,126,083
NextEra Energy Capital Holdings, Inc.	6.051%	3/1/2025		48,224,000		48,780,115
NRG Energy, Inc.†	3.75%	6/15/2024		90,412,000		87,606,348
Oncor Electric Delivery Co. LLC	4.30%	5/15/2028		30,904,000		30,537,913
Pacific Gas & Electric Co.	3.15%	1/1/2026		120,471,909		112,711,588
Pacific Gas & Electric Co.	3.75%	2/15/2024		10,706,000		10,523,799
Public Service Enterprise Group, Inc.	5.85%	11/15/2027		41,715,000		43,094,465
Southern Co.	5.113%	8/1/2027		63,530,000		63,436,379
Vistra Operations Co. LLC†	3.55%	7/15/2024		154,448,000		149,519,428
Vistra Operations Co. LLC†	4.875%	5/13/2024		59,198,000		58,339,848
Total						1,902,387,215
Electronics 0.05%
Arrow Electronics, Inc.	6.125%	3/1/2026		24,194,000		24,230,298
Energy-Alternate Sources 0.06%
Greenko Dutch BV (Netherlands)†(c)	3.85%	3/29/2026		30,407,120		26,974,460
Entertainment 0.24%
Warnermedia Holdings, Inc.	3.428%	3/15/2024		59,012,000		57,786,173
Warnermedia Holdings, Inc.	3.638%	3/15/2025		10,000,000		9,681,444

See Notes to Financial Statements. 251

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Entertainment (continued)
Warnermedia Holdings, Inc.	6.412%		3/15/2026	$	37,918,000	$	38,010,384
Warnermedia Holdings, Inc.	6.701%	#	3/15/2024		7,447,000		7,475,131
Total							112,953,132
Food 0.09%
NBM U.S. Holdings, Inc.†	7.00%		5/14/2026		43,000,000		41,903,500
Forest Products & Paper 0.04%
Suzano Austria GmbH (Brazil)†(c)	5.75%		7/14/2026		18,736,000		19,005,705
Gas 0.75%
Brooklyn Union Gas Co.†	4.632%		8/5/2027		54,747,000		52,936,672
CenterPoint Energy Resources Corp.	5.25%		3/1/2028		24,908,000		25,345,799
National Fuel Gas Co.	5.20%		7/15/2025		9,650,000		9,559,065
National Fuel Gas Co.	5.50%		1/15/2026		106,751,000		106,034,164
National Fuel Gas Co.	5.50%		10/1/2026		31,379,000		30,969,374
NiSource, Inc.	5.25%		3/30/2028		16,192,000		16,321,899
ONE Gas, Inc.	1.10%		3/11/2024		22,804,000		22,032,938
Southwest Gas Corp.	5.45%		3/23/2028		48,059,000		48,219,830
Southwest Gas Corp.	5.80%		12/1/2027		41,220,000		42,213,652
Total							353,633,393
Hand/Machine Tools 0.39%
Regal Rexnord Corp.†	6.05%		2/15/2026		35,742,000		35,844,183
Regal Rexnord Corp.†	6.05%		4/15/2028		80,332,000		79,460,607
Stanley Black & Decker, Inc.	6.00%		3/6/2028		31,710,000		32,480,207
Stanley Black & Decker, Inc.	6.272%		3/6/2026		33,379,000		33,640,894
Total							181,425,891
Health Care-Products 0.11%
GE HealthCare Technologies, Inc.†	5.55%		11/15/2024		7,900,000		7,893,186
GE HealthCare Technologies, Inc.†	5.60%		11/15/2025		45,212,000		45,347,923
Total							53,241,109
Health Care-Services 1.05%
Centene Corp.	2.45%		7/15/2028		55,420,000		47,668,405
Centene Corp.	4.25%		12/15/2027		116,306,000		109,406,728
Elevance Health, Inc.	4.90%		2/8/2026		24,324,000		24,206,031
HCA, Inc.	5.00%		3/15/2024		12,641,000		12,555,608
HCA, Inc.	5.20%		6/1/2028		8,408,000		8,359,173
HCA, Inc.	5.25%		4/15/2025		191,891,000		190,453,564

252 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Health Care-Services (continued)
HCA, Inc.	5.25%	6/15/2026	$	26,757,000	$	26,581,181
HCA, Inc.	5.375%	2/1/2025		8,520,000		8,465,086
Humana, Inc.	5.70%	3/13/2026		32,237,000		32,345,183
Humana, Inc.	5.75%	3/1/2028		31,220,000		32,359,462
Total						492,400,421
Home Builders 0.08%
Lennar Corp.	4.875%	12/15/2023		15,364,000		15,336,174
Toll Brothers Finance Corp.	4.875%	11/15/2025		24,292,000		23,667,289
Total						39,003,463
Housewares 0.02%
Newell Brands, Inc.	4.70%	4/1/2026		10,755,000		9,988,760
Insurance 1.82%
Aon Corp.	8.205%	1/1/2027		62,792,000		64,151,761
CNO Financial Group, Inc.	5.25%	5/30/2025		90,846,000		89,976,368
CNO Global Funding†	1.75%	10/7/2026		29,008,000		25,899,051
Corebridge Financial, Inc.	3.50%	4/4/2025		25,000,000		23,880,317
Equitable Financial Life Global Funding†	5.45%	3/3/2028		57,392,000		58,338,482
F&G Annuities & Life, Inc.†	7.40%	1/13/2028		29,967,000		30,120,190
F&G Global Funding†	0.90%	9/20/2024		31,336,000		29,186,144
F&G Global Funding†	1.75%	6/30/2026		29,365,000		26,208,602
F&G Global Funding†	2.30%	4/11/2027		58,675,000		52,524,172
Fidelity & Guaranty Life Holdings, Inc.†	5.50%	5/1/2025		58,740,000		57,836,132
GA Global Funding Trust†	0.80%	9/13/2024		50,588,000		47,277,449
GA Global Funding Trust†	3.85%	4/11/2025		58,346,000		55,938,983
Jackson Financial, Inc.	5.17%	6/8/2027		25,281,000		24,198,366
Jackson National Life Global Funding†	1.75%	1/12/2025		30,601,000		28,553,522
Jackson National Life Global Funding†	5.50%	1/9/2026		32,581,000		32,176,388
Kemper Corp.	4.35%	2/15/2025		25,199,000		24,305,162
Metropolitan Life Global Funding I†	4.05%	8/25/2025		29,100,000		28,248,229
New York Life Global Funding†	4.70%	4/2/2026		46,622,000		46,397,063
Peachtree Corners Funding Trust†	3.976%	2/15/2025		21,890,000		21,225,118
Pricoa Global Funding I†	4.20%	8/28/2025		13,633,000		13,331,950
Protective Life Global Funding†	5.209%	4/14/2026		34,409,000		34,247,118
Protective Life Global Funding†	5.366%	1/6/2026		37,830,000		38,130,157
Total						852,150,724

See Notes to Financial Statements. 253

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Internet 0.75%
Amazon.com, Inc.	4.55%	12/1/2027	$	41,581,000	$	41,930,191
Netflix, Inc.†	3.625%	6/15/2025		53,808,000		52,063,916
Netflix, Inc.	4.375%	11/15/2026		116,948,000		115,029,363
Netflix, Inc.	5.875%	2/15/2025		87,732,000		88,585,745
Prosus NV (Netherlands)†(c)	3.257%	1/19/2027		60,280,000		54,740,199
Total						352,349,414
Iron-Steel 0.03%
Baffinland Iron Mines Corp./Baffinland Iron Mines LP (Canada)†(c)	8.75%	7/15/2026		14,026,000		13,484,288
Lodging 0.29%
Hyatt Hotels Corp.	1.30%	10/1/2023		101,486,000		99,948,079
Hyatt Hotels Corp.	1.80%	10/1/2024		39,327,000		37,311,901
Total						137,259,980
Machinery-Diversified 0.27%
CNH Industrial NV (United Kingdom)(c)	4.50%	8/15/2023		48,535,000		48,365,575
Westinghouse Air Brake Technologies Corp.	4.375%	8/15/2023		25,687,000		25,606,251
Westinghouse Air Brake Technologies Corp.	4.40%	3/15/2024		52,901,000		52,178,207
Total						126,150,033
Media 0.20%
AMC Networks, Inc.	4.75%	8/1/2025		3,004,000		2,659,141
Charter Communications Operating LLC/Charter Communications Operating Capital	4.50%	2/1/2024		10,000,000		9,896,377
FactSet Research Systems, Inc.	2.90%	3/1/2027		26,584,000		24,602,415
Univision Communications, Inc.†	5.125%	2/15/2025		58,370,000		56,445,541
Total						93,603,474
Mining 1.27%
Anglo American Capital PLC (United Kingdom)†(c)	3.625%	9/11/2024		113,828,000		110,783,573
Anglo American Capital PLC (United Kingdom)†(c)	4.875%	5/14/2025		50,235,000		49,554,419
First Quantum Minerals Ltd. (Canada)†(c)	7.50%	4/1/2025		56,107,000		56,049,210
Freeport Indonesia PT (Indonesia)†(c)	4.763%	4/14/2027		31,203,000		30,543,347
Freeport-McMoRan, Inc.	4.55%	11/14/2024		46,515,000		45,896,816
Glencore Funding LLC†	1.625%	4/27/2026		42,776,000		38,733,975
Glencore Funding LLC†	4.00%	3/27/2027		50,850,000		48,604,235
Glencore Funding LLC†	4.125%	3/12/2024		83,462,000		82,191,195
Glencore Funding LLC†	4.625%	4/29/2024		93,206,000		92,292,180
Kinross Gold Corp. (Canada)(c)	5.95%	3/15/2024		43,332,000		43,258,196
Total						597,907,146

254 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Miscellaneous Manufacturing 0.03%
Parker-Hannifin Corp.	3.65%	6/15/2024	$	15,514,000	$	15,217,166
Oil & Gas 3.56%
Aker BP ASA (Norway)†(c)	2.00%	7/15/2026		96,528,000		87,080,262
Continental Resources, Inc.†	2.268%	11/15/2026		82,515,000		73,826,224
Continental Resources, Inc.	3.80%	6/1/2024		153,490,000		150,499,077
Continental Resources, Inc.	4.375%	1/15/2028		80,948,000		76,153,087
CrownRock LP/CrownRock Finance, Inc.†	5.625%	10/15/2025		93,458,000		91,672,952
Devon Energy Corp.	5.25%	9/15/2024		74,848,000		74,580,510
Devon Energy Corp.	5.25%	10/15/2027		78,874,000		78,061,106
Devon Energy Corp.	5.875%	6/15/2028		27,374,000		27,436,258
Devon Energy Corp.	8.25%	8/1/2023		26,781,000		26,803,743
Eni SpA (Italy)†(c)	4.00%	9/12/2023		29,551,000		29,367,877
EQT Corp.†	3.125%	5/15/2026		53,518,000		49,603,969
EQT Corp.	3.90%	10/1/2027		48,500,000		45,109,850
EQT Corp.	5.678%	10/1/2025		28,000,000		28,005,880
EQT Corp.	6.125%	2/1/2025		103,028,000		103,199,026
Matador Resources Co.	5.875%	9/15/2026		103,210,000		99,786,586
Occidental Petroleum Corp.	6.375%	9/1/2028		33,395,000		34,394,512
OGX Austria GmbH (Brazil)†(c)(e)	8.50%	6/1/2018		31,150,000		623
Ovintiv Exploration, Inc.	5.375%	1/1/2026		70,306,000		69,953,074
Ovintiv, Inc.	5.65%	5/15/2025		29,979,000		29,948,134
Ovintiv, Inc.	5.65%	5/15/2028		43,372,000		43,178,468
Parsley Energy LLC/Parsley Finance Corp.†	4.125%	2/15/2028		26,480,000		24,769,178
PBF Holding Co. LLC/PBF Finance Corp.	7.25%	6/15/2025		27,750,000		27,686,314
PDC Energy, Inc.	5.75%	5/15/2026		45,491,000		45,393,194
PDC Energy, Inc.	6.125%	9/15/2024		16,511,000		16,517,604
Permian Resources Operating LLC†	7.75%	2/15/2026		20,369,000		20,536,535
Petroleos Mexicanos (Mexico)(c)	6.49%	1/23/2027		14,340,000		12,422,285
Petroleos Mexicanos (Mexico)(c)	6.875%	8/4/2026		93,272,000		85,233,448
Pioneer Natural Resources Co.	5.10%	3/29/2026		23,941,000		23,948,896
Suncor Energy, Inc. (Canada)(c)	7.875%	6/15/2026		22,444,000		23,902,667
Tengizchevroil Finance Co. International Ltd. (Kazakhstan)†(c)	2.625%	8/15/2025		60,401,000		54,057,808
Viper Energy Partners LP†	5.375%	11/1/2027		48,216,000		46,432,008
Vital Energy, Inc.	9.50%	1/15/2025		71,508,000		70,804,926
Total						1,670,366,081
Oil & Gas Services 0.06%
Oceaneering International, Inc.	4.65%	11/15/2024		28,663,000		27,933,670

See Notes to Financial Statements. 255

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Pharmaceuticals 1.62%
Bayer U.S. Finance II LLC†	3.875%		12/15/2023	$	138,894,000	$	137,449,639
Bayer U.S. Finance II LLC†	4.25%		12/15/2025		101,873,000		98,939,674
Bayer U.S. Finance II LLC†	5.876% (3 mo. USD LIBOR + 1.01%	)#	12/15/2023		125,880,000		125,832,247
Cigna Group	5.685%		3/15/2026		29,031,000		29,192,895
Cigna Group	6.15% (3 mo. USD LIBOR + 0.89%	)#	7/15/2023		43,170,000		43,177,245
CVS Health Corp.	4.30%		3/25/2028		21,226,000		20,694,813
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(c)	4.45%		5/19/2026		76,148,000		75,775,999
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(c)	4.45%		5/19/2028		61,012,000		60,815,098
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(c)	4.65%		5/19/2025		170,646,000		170,343,240
Total							762,220,850
Pipelines 1.35%
Cheniere Corpus Christi Holdings LLC	5.875%		3/31/2025		176,876,000		177,106,777
DCP Midstream Operating LP	5.375%		7/15/2025		23,345,000		23,108,543
Energy Transfer LP	5.875%		1/15/2024		87,329,000		87,356,095
MPLX LP	4.00%		2/15/2025		14,400,000		14,040,052
Plains All American Pipeline LP/PAA Finance Corp.	3.60%		11/1/2024		40,469,000		39,269,982
Plains All American Pipeline LP/PAA Finance Corp.	4.65%		10/15/2025		50,709,000		49,875,960
Sabine Pass Liquefaction LLC	5.75%		5/15/2024		134,798,000		134,560,080
Targa Resources Partners LP/Targa Resources Partners Finance Corp.	6.50%		7/15/2027		85,876,000		86,260,101
Williams Cos., Inc.	5.40%		3/2/2026		20,157,000		20,329,325
Total							631,906,915
REITS 1.44%
American Tower Corp.	1.50%		1/31/2028		58,078,000		49,251,220
American Tower Corp.	1.60%		4/15/2026		9,453,000		8,541,324
American Tower Corp.	3.60%		1/15/2028		12,874,000		12,010,768
American Tower Corp.	3.65%		3/15/2027		58,606,000		55,407,930
American Tower Corp.	5.25%		7/15/2028		32,495,000		32,465,562
American Tower Corp.	5.50%		3/15/2028		51,310,000		51,874,975
Crown Castle, Inc.	5.00%		1/11/2028		30,651,000		30,416,249
EPR Properties	4.50%		6/1/2027		33,896,000		29,957,381
EPR Properties	4.75%		12/15/2026		27,038,000		24,430,695
GLP Capital LP/GLP Financing II, Inc.	5.25%		6/1/2025		25,105,000		24,585,444
GLP Capital LP/GLP Financing II, Inc.	5.375%		4/15/2026		11,000,000		10,694,408
HAT Holdings I LLC/HAT Holdings II LLC†	3.375%		6/15/2026		37,910,000		33,214,997
Kilroy Realty LP	4.375%		10/1/2025		7,275,000		6,722,051

256 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
REITS (continued)
VICI Properties LP/VICI Note Co., Inc.†	3.50%		2/15/2025	$	77,732,000	$	74,205,639
VICI Properties LP/VICI Note Co., Inc.†	3.75%		2/15/2027		40,353,000		37,419,245
VICI Properties LP/VICI Note Co., Inc.†	4.50%		9/1/2026		12,193,000		11,568,353
VICI Properties LP/VICI Note Co., Inc.†	4.625%		6/15/2025		11,459,000		11,070,120
VICI Properties LP/VICI Note Co., Inc.†	5.625%		5/1/2024		54,255,000		53,941,889
Vornado Realty LP	2.15%		6/1/2026		17,704,000		14,548,115
Vornado Realty LP	3.50%		1/15/2025		23,249,000		21,534,517
WEA Finance LLC/Westfield U.K. & Europe Finance PLC†	3.75%		9/17/2024		87,757,000		82,909,413
Total							676,770,295
Savings & Loans 0.12%
Nationwide Building Society (United Kingdom)†(c)	4.00%		9/14/2026		19,128,000		17,851,706
Nationwide Building Society (United Kingdom)†(c)	6.382% (SOFR + 1.29%	)#	2/16/2028		40,000,000		38,662,243
Total							56,513,949
Semiconductors 0.81%
Microchip Technology, Inc.	0.972%		2/15/2024		95,426,000		92,163,822
Microchip Technology, Inc.	2.67%		9/1/2023		126,267,000		125,193,410
Microchip Technology, Inc.	4.25%		9/1/2025		53,904,000		52,556,948
Microchip Technology, Inc.	4.333%		6/1/2023		64,279,000		64,279,000
Qorvo, Inc.†	1.75%		12/15/2024		30,312,000		28,332,020
SK Hynix, Inc. (South Korea)†(c)	1.50%		1/19/2026		16,777,000		14,839,602
Total							377,364,802
Shipbuilding 0.06%
Huntington Ingalls Industries, Inc.	3.844%		5/1/2025		28,692,000		27,811,998
Software 0.36%
Fidelity National Information Services, Inc.	4.50%		7/15/2025		23,560,000		23,171,942
Fiserv, Inc.	5.45%		3/2/2028		25,011,000		25,411,665
Oracle Corp.	2.30%		3/25/2028		57,698,000		51,076,301
Oracle Corp.	2.50%		4/1/2025		13,674,000		13,041,744
Oracle Corp.	4.50%		5/6/2028		16,399,000		16,023,180
Take-Two Interactive Software, Inc.	3.55%		4/14/2025		7,107,000		6,882,434
Take-Two Interactive Software, Inc.	5.00%		3/28/2026		34,961,000		34,825,502
Total							170,432,768
Telecommunications 0.52%
Altice France SA (France)†(c)	8.125%		2/1/2027		116,632,000		100,630,393
Sprint LLC	7.125%		6/15/2024		25,543,000		25,828,389
Sprint LLC	7.875%		9/15/2023		15,050,000		15,108,454

See Notes to Financial Statements. 257

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Telecommunications (continued)
T-Mobile USA, Inc.		2.25%		2/15/2026	$	58,311,000	$	54,101,943
T-Mobile USA, Inc.		2.625%		4/15/2026		22,727,000		21,194,098
T-Mobile USA, Inc.		3.75%		4/15/2027		30,084,000		28,587,993
Total								245,451,270
Toys/Games/Hobbies 0.05%
Hasbro, Inc.		3.00%		11/19/2024		21,329,000		20,517,785
Trucking & Leasing 0.06%
Fortress Transportation & Infrastructure Investors LLC†		6.50%		10/1/2025		11,807,000		11,484,580
SMBC Aviation Capital Finance DAC (Ireland)†(c)		5.45%		5/3/2028		15,179,000		15,135,853
Total								26,620,433
Total Corporate Bonds (cost $25,041,893,352)								24,168,322,970
FLOATING RATE LOANS(f) 4.22%
Aerospace 0.02%
Jazz Acquisition, Inc. 2019 1st Lien Term Loan		–	(g)	6/19/2026		10,000,000		10,007,800
Chemicals 0.43%
Nutrition & Biosciences, Inc. 3 Year Delayed Draw Term Loan	6.673% (3 mo. USD Term SOFR + 1.50%		)	2/1/2024		75,536,659		75,395,028
Nutrition & Biosciences, Inc. 5 Year Delayed Draw Term Loan	7.048% (3 mo. USD Term SOFR + 1.87%		)	1/17/2025		101,864,407		101,673,411
Starfruit Finco B.V 2018 USD Term Loan B (Netherlands)(c)		–	(g)	10/1/2025		26,574,097		26,529,053
Total								203,597,492
Entertainment 0.14%
Stars Group Holdings BV 2018 USD Incremental Term Loan (Netherlands)(c)		7.409% (3 mo. USD LIBOR + 2.25%	)	7/21/2026		67,482,506		67,302,327
Financial 0.03%
LPL Holdings, Inc. 2019 Term Loan B1	6.843% (1 mo. USD Term SOFR + 1.75%		)	11/12/2026		15,333,843		15,212,399
Food 0.14%
US Foods, Inc. 2019 Term Loan B 2019 Term Loan B		7.154% (1 mo. USD LIBOR	)	9/13/2026		64,363,281		64,186,925

258 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Food Service 0.08%
Aramark Services, Inc. 2018 Term Loan B3	6.904% (1 mo. USD LIBOR + 1.75%	)	3/11/2025	$	36,611,481	$	36,554,367
Health Care Products 0.08%
Baxter International, Inc. 2021 Delayed Draw Term Loan Tranche 1	6.237% (1 mo. USD Term SOFR + 1.13%	)	9/30/2024		15,806,306		15,756,912
Baxter International, Inc. 2021 Delayed Draw Term Loan Tranche 2	6.362% (1 mo. USD Term SOFR + 1.25%	)	9/30/2026		23,181,250		22,587,230
Total							38,344,142
Health Care Services 0.08%
HCA, Inc. 2021 Term Loan A	–	(g)	6/30/2026		37,700,000		37,511,688
Information Technology 0.02%
MH Sub I LLC 2020 Incremental Term Loan	–	(g)	9/13/2024		7,599,849		7,588,753
Internet 0.56%
Comcast Hulu Holdings LLC Term Loan A	6.029% (1 mo. USD LIBOR + 0.88%	)	3/15/2024		259,815,091		259,004,468
MH Sub I LLC 2017 1st Lien Term Loan	–	(g)	9/13/2024		2,609,576		2,609,367
Total							261,613,835
Lodging 0.29%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%	)	6/22/2026		94,414,424		94,039,599
Resorts World Las Vegas LLC Term Loan A	6.66% (3 mo. USD LIBOR + 1.50%	)	4/16/2024		25,375,000		25,311,562
Wynn Resorts Ltd. 2019 Term Loan A	6.903% (1 mo. USD Term SOFR + 1.75%	)	9/20/2024		17,855,676		17,677,119
Total							137,028,280
Media 0.60%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% - 6.90% (1 mo. USD Term SOFR + 1.75%) (3 mo. USD Term SOFR + 1.75%	)	4/30/2025		257,526,560		257,307,663
Univision Communications, Inc. Term Loan C5	7.904% (1 mo. USD LIBOR + 2.75%	)	3/15/2024		24,877,258		24,916,066
Total							282,223,729

See Notes to Financial Statements. 259

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Pharmaceuticals 0.28%
Horizon Therapeutics USA, Inc. 2021 Term Loan B2	6.938% (1 mo. USD LIBOR + 1.75%	)	3/15/2028	$	126,287,775	$	126,033,305
Horizon Therapeutics USA, Inc. Term Loan B1	7.188% (1 mo. USD LIBOR + 2.25%	)	5/22/2026		4,678,740		4,675,816
Total							130,709,121
Pipelines 0.10%
Buckeye Partners LP 2021 Term Loan B	7.284% (1 mo. USD LIBOR + 2.25%	)	11/1/2026		49,290,198		48,718,925
Real Estate Investment Trusts 0.68%
American Tower Corp. 2021 First Lien Delayed Draw Term loan	6.25% (1 mo. USD LIBOR + 1.13%	)	12/8/2023		71,504,483		71,482,317
Invitation Homes Operating Partnership LP 2020 Term Loan A	6.253% (1 mo. USD Term SOFR + 1.00%	)	1/31/2025		251,281,186		246,883,765
Total							318,366,082
Retail 0.16%
Project Alpha Intermediate Holding, Inc. 2021 Term Loan	7.90% (3 mo. USD Term SOFR + 2.80%	)	6/21/2023		75,333,333		75,359,700
Service 0.13%
AppLovin Corp. 2018 Term Loan B	8.503% (1 mo. USD Term SOFR + 3.35%	)	8/15/2025		62,254,483		62,098,847
Software 0.27%
Open Text Corporation Term Loan B (Canada)(c)	6.904% (3 mo. USD LIBOR	)	5/30/2025		29,073,753		29,062,415
Project Alpha Intermediate Holding, Inc. 2021 Term Loan B	9.16% (1 mo. USD LIBOR + 4.00%	)	4/26/2024		96,458,610		96,127,274
Total							125,189,689
Transportation 0.01%
XPO Logistics, Inc. 2018 Term Loan B	6.849% (1 mo. USD LIBOR + 1.75%	)	2/24/2025		5,940,656		5,941,013
Utility 0.12%
Calpine Construction Finance Co. LP 2017 Term Loan B	7.154% (1 mo. USD LIBOR + 2.00%	)	1/15/2025		55,169,412		55,139,069
Total Floating Rate Loans (cost $1,991,717,597)							1,982,694,183

260 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.03%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 061 Class X1	0.153%	#(h)	11/25/2026	$	508,179,032	$	2,772,777
Government National Mortgage Association Series 2013-193 Class IO	0.176%	#(h)	1/16/2055		823,814		44,915
Government National Mortgage Association Series 2014-112 Class A	3.00%	#(h)	1/16/2048		7,904,633		7,139,625
Government National Mortgage Association Series 2014-15 Class IO	0.596%	#(h)	8/16/2054		26,393		20,471	(b)
Government National Mortgage Association Series 2014-186 Class AP	2.80%		4/16/2050		2,194,778		2,096,414
Government National Mortgage Association Series 2014-78 Class IO	0.007%	#(h)	3/16/2056		9,028,521		23,197
Government National Mortgage Association Series 2015-19 Class AD	2.90%		10/16/2055		1,715,027		1,667,450
Total Government Sponsored Enterprises Collateralized Mortgage Obligations (cost $15,553,276)							13,764,849
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS 0.23%
Federal Home Loan Mortgage Corp.	3.89% (1 yr. USD LIBOR + 1.64%	)#	11/1/2043		395,831		390,693
Federal Home Loan Mortgage Corp.	4.044% (1 yr. USD LIBOR + 1.78%	)#	5/1/2036		1,611,276		1,625,560
Federal Home Loan Mortgage Corp.	4.058% (1 yr. USD LIBOR + 1.78%	)#	10/1/2038		1,776,297		1,799,544
Federal Home Loan Mortgage Corp.	4.084% (1 yr. USD LIBOR + 1.72%	)#	4/1/2037		2,883,107		2,908,891
Federal Home Loan Mortgage Corp.	4.094% (1 yr. USD LIBOR + 1.79%	)#	12/1/2036		3,917,871		3,974,222
Federal Home Loan Mortgage Corp.	4.10% (1 yr. USD LIBOR + 1.66%	)#	2/1/2038		1,977,964		1,987,127
Federal Home Loan Mortgage Corp.	4.129% (1 yr. USD LIBOR + 1.88%	)#	9/1/2035		1,205,240		1,221,438
Federal Home Loan Mortgage Corp.	4.142% (1 yr. USD LIBOR + 1.89%	)#	12/1/2040		298,462		295,353
Federal Home Loan Mortgage Corp.	4.166% (1 yr. USD LIBOR + 1.88%	)#	12/1/2040		2,330,642		2,356,094
Federal Home Loan Mortgage Corp.	4.17% (1 yr. USD LIBOR + 1.80%	)#	6/1/2041		1,515,715		1,541,467
Federal Home Loan Mortgage Corp.	4.201% (1 yr. USD LIBOR + 1.95%	)#	2/1/2037		2,284,863		2,321,154

See Notes to Financial Statements. 261

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS (continued)
Federal Home Loan Mortgage Corp.	4.222% (1 yr. USD LIBOR + 1.92%	)#	9/1/2036	$	4,506,140	$	4,578,755
Federal Home Loan Mortgage Corp.	4.36% (1 yr. USD LIBOR + 1.84%	)#	6/1/2042		3,494,472		3,524,390
Federal Home Loan Mortgage Corp.	4.395% (1 yr. USD LIBOR + 1.76%	)#	5/1/2037		1,679,387		1,698,327
Federal Home Loan Mortgage Corp.	4.478% (1 yr. CMT + 2.50%	)#	12/1/2035		1,981,319		2,023,756
Federal National Mortgage Association	3.544% (1 yr. USD LIBOR + 1.60%	)#	11/1/2036		473,233		469,603
Federal National Mortgage Association	3.692% (1 yr. USD LIBOR + 1.44%	)#	12/1/2035		4,083,808		4,103,599
Federal National Mortgage Association	3.785% (1 yr. USD LIBOR + 1.53%	)#	10/1/2035		3,195,845		3,229,698
Federal National Mortgage Association	3.787% (1 yr. USD LIBOR + 1.50%	)#	2/1/2036		1,949,857		1,965,492
Federal National Mortgage Association	3.898% (1 yr. USD LIBOR + 1.55%	)#	6/1/2038		657,096		648,056
Federal National Mortgage Association	3.911% (1 yr. USD LIBOR + 1.72%	)#	6/1/2042		1,049,330		1,068,588
Federal National Mortgage Association	3.937% (1 yr. USD LIBOR + 1.64%	)#	9/1/2038		1,917,299		1,939,965
Federal National Mortgage Association	3.938% (1 yr. USD LIBOR + 1.52%	)#	3/1/2039		1,966,702		1,981,719
Federal National Mortgage Association	3.953% (1 yr. USD LIBOR + 1.66%	)#	8/1/2038		817,373		810,926
Federal National Mortgage Association	3.988% (1 yr. USD LIBOR + 1.62%	)#	4/1/2038		2,158,455		2,186,238
Federal National Mortgage Association	4.013% (1 yr. USD LIBOR + 1.80%	)#	11/1/2040		5,208,527		5,301,859
Federal National Mortgage Association	4.016% (1 yr. USD LIBOR + 1.59%	)#	8/1/2034		4,086,808		4,129,577
Federal National Mortgage Association	4.042% (1 yr. USD LIBOR + 1.79%	)#	3/1/2042		2,047,674		2,079,987
Federal National Mortgage Association	4.051% (1 yr. USD LIBOR + 1.81%	)#	1/1/2042		4,166,233		4,240,815
Federal National Mortgage Association	4.052% (1 yr. USD LIBOR + 1.80%	)#	10/1/2040		577,708		589,285
Federal National Mortgage Association	4.06%		12/1/2036 - 1/1/2041		3,190,171		3,223,947
Federal National Mortgage Association	4.061% (1 yr. USD LIBOR + 1.78%	)#	1/1/2041		4,081,883		4,137,529

262 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS (continued)
Federal National Mortgage Association	4.062% (1 yr. USD LIBOR + 1.81%	)#	12/1/2040	$	1,053,968	$	1,067,916
Federal National Mortgage Association	4.067% (1 yr. USD LIBOR + 1.82%	)#	12/1/2040		2,277,555		2,313,581
Federal National Mortgage Association	4.081% (1 yr. USD LIBOR + 1.63%	)#	1/1/2038		947,868		959,126
Federal National Mortgage Association	4.145% (1 yr. USD LIBOR + 1.81%	)#	4/1/2040		964,191		976,696
Federal National Mortgage Association	4.15% (1 yr. USD LIBOR + 1.74%	)#	10/1/2036		1,873,075		1,907,259
Federal National Mortgage Association	4.155% (1 yr. USD LIBOR + 1.82%	)#	8/1/2041		1,456,865		1,481,403
Federal National Mortgage Association	4.186%		8/1/2037 - 1/1/2038		3,797,312		3,842,301
Federal National Mortgage Association	4.198% (1 yr. USD LIBOR + 1.59%	)#	3/1/2038		1,872,292		1,895,516
Federal National Mortgage Association	4.201% (1 yr. USD LIBOR + 1.65%	)#	9/1/2036		1,384,649		1,400,538
Federal National Mortgage Association	4.252% (1 yr. USD LIBOR + 1.78%	)#	10/1/2036		1,680,443		1,707,918
Federal National Mortgage Association	4.281% (1 yr. USD LIBOR + 1.75%	)#	11/1/2038		2,683,674		2,724,506
Federal National Mortgage Association	4.346% (1 yr. CMT + 2.24%	)#	3/1/2038		259,680		256,658
Federal National Mortgage Association	4.396% (1 yr. USD LIBOR + 1.84%	)#	7/1/2040		570,288		565,919
Federal National Mortgage Association	4.665% (1 yr. USD LIBOR + 1.89%	)#	12/1/2038		1,327,023		1,354,284
Federal National Mortgage Association	4.858% (1 yr. USD LIBOR + 1.74%	)#	5/1/2042		4,398,965		4,446,698
Federal National Mortgage Association	5.519% (1 yr. USD LIBOR + 1.60%	)#	10/1/2045		1,781,013		1,826,145
Federal National Mortgage Association	6.424% (1 yr. USD LIBOR + 1.60%	)#	12/1/2045		2,415,721		2,462,516
Federal National Mortgage Association	6.491% (1 yr. USD LIBOR + 1.60%	)#	12/1/2045		2,390,017		2,438,410
Total Government Sponsored Enterprises Pass-Throughs (cost $110,779,063)							107,981,044
MUNICIPAL BONDS 0.04%
Government
State of Illinois GO (cost $20,088,795)	4.95%		6/1/2023		20,088,818		20,088,818

See Notes to Financial Statements. 263

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 13.74%
1211 Avenue of the Americas Trust Series 2015-1211 Class XA†	0.242%	#(h)	8/10/2035	$	214,200,000	$	1,054,378
Angel Oak Mortgage Trust Series 2020-1 Class A1†	2.466%	#(h)	12/25/2059		5,573,540		5,234,563
Angel Oak Mortgage Trust Series 2020-6 Class A1†	1.261%	#(h)	5/25/2065		11,023,853		9,882,922
Angel Oak Mortgage Trust Series 2021-4 Class A1†	1.035%	#(h)	1/20/2065		24,073,197		19,280,628
Angel Oak Mortgage Trust Series 2021-6 Class A1†	1.458%	#(h)	9/25/2066		55,889,301		45,058,335
Angel Oak Mortgage Trust Series 2021-7 Class A1†	1.978%	#(h)	10/25/2066		19,806,110		16,731,396
Atrium Hotel Portfolio Trust Series 2017-ATRM Class A†	6.287% (1 mo. USD LIBOR + 1.18%	)#	12/15/2036		19,170,000		18,468,957
Atrium Hotel Portfolio Trust Series 2017-ATRM Class B†	6.857% (1 mo. USD LIBOR + 1.75%	)#	12/15/2036		30,936,000		29,123,407
Atrium Hotel Portfolio Trust Series 2018-ATRM Class B†	6.537% (1 mo. USD LIBOR + 1.43%	)#	6/15/2035		28,262,000		26,960,199
Banc of America Commercial Mortgage Trust Series 2016-UB10 Class XA	1.728%	#(h)	7/15/2049		46,845,774		1,731,471
BBCMS Mortgage Trust Series 2018-TALL Class A†	5.98% (1 mo. USD LIBOR + 0.87%	)#	3/15/2037		43,808,000		39,433,762
BBCMS Mortgage Trust Series 2018-TALL Class E†	7.695% (1 mo. USD LIBOR + 2.59%	)#	3/15/2037		36,419,000		21,977,093
BBCMS Mortgage Trust Series 2019-BWAY Class A†	6.13% (1 mo. USD Term SOFR + 1.07%	)#	11/15/2034		62,710,000		51,697,666
BBCMS Mortgage Trust Series 2019-BWAY Class B†	6.484% (1 mo. USD Term SOFR + 1.42%	)#	11/15/2034		26,023,000		20,909,129
BBCMS Mortgage Trust Series 2019-BWAY Class C†	6.784% (1 mo. USD Term SOFR + 1.72%	)#	11/15/2034		10,000,000		7,730,227
BBCMS Mortgage Trust Series 2020-C7 Class A2	2.021%		4/15/2053		13,250,000		12,482,176
BBCMS Trust Series 2015-VFM Class A1†	2.466%		3/10/2036		12,492,196		11,560,032
BB-UBS Trust Series 2012-SHOW Class A†	3.43%		11/5/2036		39,264,000		36,742,305
BB-UBS Trust Series 2012-TFT Class A†	2.892%		6/5/2030		26,998,975		24,981,574
BB-UBS Trust Series 2012-TFT Class B†	3.559%	#(h)	6/5/2030		7,850,000		6,966,169
BB-UBS Trust Series 2012-TFT Class C†	3.559%	#(h)	6/5/2030		14,354,000		11,790,188
BDS Ltd. Series 2021-FL8 Class A†	6.031% (1 mo. USD LIBOR + 0.92%	)#	1/18/2036		8,913,761		8,763,342
Benchmark Mortgage Trust Series 2018-B3 Class A3	3.746%		4/10/2051		5,000,000		4,822,221
Benchmark Mortgage Trust Series 2021 B23 Class A2	1.62%		2/15/2054		28,550,000		25,375,303
BHMS Mortgage Trust Series 2018-ATLS Class D†	7.357% (1 mo. USD LIBOR + 2.25%	)#	7/15/2035		39,450,000		37,178,619

264 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
BHP Trust Series 2019-BXHP Class A†	6.082% (1 mo. USD LIBOR + 0.98%	)#	8/15/2036	$	39,526,386	$	39,000,760
BWAY Mortgage Trust Series 2013-1515 Class A1†	2.809%		3/10/2033		3,090,713		2,949,408
BWAY Mortgage Trust Series 2013-1515 Class XB†	0.403%	#(h)	3/10/2033		103,040,000		589,224
BX Commercial Mortgage Trust Series 2019-IMC Class A†	6.107% (1 mo. USD LIBOR + 1.00%	)#	4/15/2034		3,690,000		3,645,020
BX Commercial Mortgage Trust Series 2019-XL Class A†	6.094% (1 mo. USD Term SOFR + 1.03%	)#	10/15/2036		16,042,785		15,940,115
BX Commercial Mortgage Trust Series 2021-ACNT Class A†	5.958% (1 mo. USD LIBOR + 0.85%	)#	11/15/2038		47,890,000		46,470,526
BX Commercial Mortgage Trust Series 2021-XL2 Class A†	5.796% (1 mo. USD LIBOR + 0.69%	)#	10/15/2038		41,322,225		39,978,095
BX Commercial Mortgage Trust Series 2023-VLT2 Class A†	7.34%	#	6/15/2040		24,000,000		23,889,288
BX Trust Series 2019-OC11 Class XA†	0.742%	#(h)	12/9/2041		561,200,000		22,257,697
BX Trust Series 2019-RP Class B†	6.602% (1 mo. USD LIBOR + 1.50%	)#	6/15/2034		17,480,000		17,105,316
BX Trust Series 2021-ARIA Class E†	7.352% (1 mo. USD LIBOR + 2.24%	)#	10/15/2036		185,345,000		174,695,188
BX Trust Series 2021-ARIA Class F†	7.701% (1 mo. USD LIBOR + 2.59%	)#	10/15/2036		69,150,000		64,339,013
BX Trust Series 2021-MFM1 Class A†	5.874% (1 mo. USD Term SOFR + 0.81%	)#	1/15/2034		10,254,142		10,013,948
BX Trust Series 2021-RISE Class A†	5.855% (1 mo. USD LIBOR + 0.75%	)#	11/15/2036		52,700,000		50,973,790
BX Trust Series 2022-LBA6 Class A†	6.059% (1 mo. USD Term SOFR + 1.00%	)#	1/15/2039		46,690,000		45,500,227
BX Trust Series 2022-PSB Class A†	7.51% (1 mo. USD Term SOFR + 2.45%	)#	8/15/2039		50,413,954		50,350,175
BXHPP Trust Series 2021-FILM Class A†	5.757% (1 mo. USD LIBOR + 0.65%	)#	8/15/2036		154,270,000		144,983,316
BXHPP Trust Series 2021-FILM Class B†	6.007% (1 mo. USD LIBOR + 0.90%	)#	8/15/2036		38,250,000		35,132,246
BXMT Ltd. Series 2021-FL4 Class A†	6.157% (1 mo. USD LIBOR + 1.05%	)#	5/15/2038		57,000,000		54,256,875
BXP Trust Series 2017-CQHP Class A†	5.957% (1 mo. USD LIBOR + 0.85%	)#	11/15/2034		41,359,000		39,864,497

See Notes to Financial Statements. 265

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Cantor Commercial Real Estate Lending Series 2019-CF1 Class 65A†	4.411%	#(h)	5/15/2052	$	5,498,000	$	4,844,256
CF Trust Series 2019-BOSS Class A1†	8.357% (1 mo. USD LIBOR + 3.25%	)#	12/15/2024		63,488,000		59,862,029
CFCRE Commercial Mortgage Trust Series 2016-C4 Class XA	1.605%	#(h)	5/10/2058		58,603,412		2,027,385
CFCRE Commercial Mortgage Trust Series 2016-C6 Class XA	1.083%	#(h)	11/10/2049		144,679,426		4,072,914
CFCRE Commercial Mortgage Trust Series 2016-C7 Class XA	0.658%	#(h)	12/10/2054		135,672,032		2,625,145
Citigroup Commercial Mortgage Trust Series 2012-GC8 Class XB†	Zero Coupon	#(h)	9/10/2045		130,629,134		1,306
Citigroup Commercial Mortgage Trust Series 2014-GC19 Class A3	3.753%		3/11/2047		3,995,041		3,948,613
Citigroup Commercial Mortgage Trust Series 2014-GC21 Class XA	1.12%	#(h)	5/10/2047		152,261,147		979,770
Citigroup Commercial Mortgage Trust Series 2014-GC23 Class XB	0.209%	#(h)	7/10/2047		120,131,000		242,989
Citigroup Commercial Mortgage Trust Series 2015-GC27 Class AAB	2.944%		2/10/2048		2,453,226		2,397,604
Citigroup Commercial Mortgage Trust Series 2015-GC27 Class XA	1.305%	#(h)	2/10/2048		94,490,783		1,453,268
Citigroup Commercial Mortgage Trust Series 2015-GC31 Class XA	0.333%	#(h)	6/10/2048		222,298,493		1,281,329
Citigroup Commercial Mortgage Trust Series 2015-GC35 Class XA	0.72%	#(h)	11/10/2048		150,352,491		2,051,891
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class A5	3.616%		2/10/2049		16,900,000		15,964,918
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class XA	1.21%	#(h)	2/10/2049		90,581,165		2,197,870
Citigroup Commercial Mortgage Trust Series 2016-GC37 Class A4	3.314%		4/10/2049		46,275,000		43,524,983
Citigroup Commercial Mortgage Trust Series 2016-GC37 Class XA	1.652%	#(h)	4/10/2049		50,921,561		1,790,305
Citigroup Commercial Mortgage Trust Series 2018-B2 Class A2	3.788%		3/10/2051		2,899,172		2,891,107
COLT Mortgage Loan Trust Series 2021-2 Class A1†	0.924%	#(h)	8/25/2066		10,961,466		8,542,928
Commercial Mortgage Pass-Through Certificates Series 2010-C1 Class D†	5.792%	#(h)	7/10/2046		10,636,843		10,146,970
Commercial Mortgage Pass-Through Certificates Series 2012-CR3 Class AM†	3.416%		10/15/2045		3,831,488		3,542,051

266 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Commercial Mortgage Pass-Through Certificates Series 2012-CR4 Class XA	1.182%	#(h)	10/15/2045	$	46,993,197	$	470
Commercial Mortgage Pass-Through Certificates Series 2013-CR12 Class A3	3.765%		10/10/2046		12,591,625		12,551,576
Commercial Mortgage Pass-Through Certificates Series 2013-CR8 Class XA	0.156%	#(h)	6/10/2046		43,164,774		432
Commercial Mortgage Pass-Through Certificates Series 2014-CR17 Class A5	3.977%		5/10/2047		7,751,000		7,568,696
Commercial Mortgage Pass-Through Certificates Series 2014-CR19 Class A4	3.532%		8/10/2047		11,256,012		10,906,316
Commercial Mortgage Pass-Through Certificates Series 2014-CR19 Class A5	3.796%		8/10/2047		10,150,000		9,857,965
Commercial Mortgage Pass-Through Certificates Series 2014-CR19 Class XA	0.927%	#(h)	8/10/2047		67,282,373		495,272
Commercial Mortgage Pass-Through Certificates Series 2014-CR21 Class A3	3.528%		12/10/2047		4,269,329		4,103,286
Commercial Mortgage Pass-Through Certificates Series 2014-CR21 Class XA	0.842%	#(h)	12/10/2047		92,844,606		913,322
Commercial Mortgage Pass-Through Certificates Series 2014-LC17 Class XA	0.659%	#(h)	10/10/2047		81,360,187		508,680
Commercial Mortgage Pass-Through Certificates Series 2014-UBS3 Class A3	3.546%		6/10/2047		5,773,954		5,644,686
Commercial Mortgage Pass-Through Certificates Series 2014-UBS3 Class A4	3.819%		6/10/2047		13,342,000		12,929,727
Commercial Mortgage Pass-Through Certificates Series 2014-UBS5 Class A4	3.838%		9/10/2047		25,610,000		24,699,265
Commercial Mortgage Pass-Through Certificates Series 2014-UBS5 Class XA	0.832%	#(h)	9/10/2047		182,289,768		1,427,019
Commercial Mortgage Pass-Through Certificates Series 2014-UBS6 Class A5	3.644%		12/10/2047		16,942,045		16,242,289
Commercial Mortgage Pass-Through Certificates Series 2015-DC1 Class A5	3.35%		2/10/2048		33,734,000		32,256,100
Commercial Mortgage Pass-Through Certificates Series 2015-LC21 Class A4	3.708%		7/10/2048		17,723,000		16,953,554
Commercial Mortgage Pass-Through Certificates Series 2015-PC1 Class A5	3.902%		7/10/2050		45,504,000		43,685,619
Commercial Mortgage Pass-Through Certificates Series 2015-PC1 Class XA†	0.403%	#(h)	7/10/2050		124,887,274		752,308
Commercial Mortgage Pass-Through Certificates Series 2016-CD1 Class XA	1.365%	#(h)	8/10/2049		98,380,606		3,077,129
Credit Suisse Mortgage Capital Certificates Series 2020-SPT1 Class A1†	1.616%		4/25/2065		3,544,465		3,481,789

See Notes to Financial Statements. 267

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Credit Suisse Mortgage Capital Certificates Trust Series 2014-USA Class A1†	3.304%		9/15/2037	$	8,931,112	$	7,672,505
Credit Suisse Mortgage Capital Certificates Trust Series 2014-USA Class X1†	0.54%	#(h)	9/15/2037		113,021,624		1,037,064
Credit Suisse Mortgage Capital Certificates Trust Series 2017-PFHP Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	12/15/2030		18,561,000		17,683,902
Credit Suisse Mortgage Capital Certificates Trust Series 2020-NQM1 Class A1†	1.208%		5/25/2065		13,750,128		12,454,550
Credit Suisse Mortgage Capital Certificates Trust Series 2021-4SZN Class A†	9.027% (1 mo. USD Term SOFR + 3.97%	)#	11/15/2023		115,000,000		112,283,688
Credit Suisse Mortgage Capital Certificates Trust Series 2021-ADV Class A†	6.508% (1 mo. USD LIBOR + 1.40%	)#	7/15/2038		40,940,000		36,877,733
Credit Suisse Mortgage Capital Certificates Trust Series 2021-AFC1 Class A1†	0.83%	#(h)	3/25/2056		11,643,688		9,035,318
Credit Suisse Mortgage Capital Certificates Trust Series 2021-GATE Class B†	7.065% (1 mo. USD LIBOR + 1.96%	)#	12/15/2036		23,751,000		22,860,808
Credit Suisse Mortgage Capital Certificates Trust Series 2021-GATE Class C†	7.815% (1 mo. USD LIBOR + 2.71%	)#	12/15/2036		11,386,000		11,091,582
Credit Suisse Mortgage Capital Certificates Trust Series 2021-GATE Class D†	8.665% (1 mo. USD LIBOR + 3.56%	)#	12/15/2036		11,443,000		11,148,397
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM1 Class A1†	0.809%	#(h)	5/25/2065		13,905,482		11,784,874
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM3 Class A1†	1.015%	#(h)	4/25/2066		25,856,793		21,160,750
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM5 Class A1†	0.938%	#(h)	5/25/2066		5,940,991		4,699,483
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM6 Class A1†	1.174%	#(h)	7/25/2066		22,674,077		18,261,049
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM7 Class A1†	1.756%	#(h)	10/25/2066		22,098,885		18,576,318
Credit Suisse Mortgage Capital Certificates Trust Series 2021-NQM7 Class A3†	2.064%	#(h)	10/25/2066		16,132,186		13,314,440
Credit Suisse Mortgage Capital Certificates Trust Series 2021-SRDC Class A†	9.253% (1 mo. USD LIBOR + 4.14%	)#	11/15/2023		25,000,000		25,229,355
Credit Suisse Mortgage Capital Certificates Trust Series 2022-NQM1 Class A1†	2.265%	#(h)	11/25/2066		54,390,827		47,021,245

268 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
CS Master Trust Series 2021-AHP Class A†	9.115% (1 mo. USD Term SOFR + 4.06%	)#	4/15/2025		$	83,500,000	$	83,335,672
CS Master Trust Series 2021-BLUF Class A†	9.276% (1 mo. USD LIBOR + 4.18%	)#	4/15/2023	(i)		47,600,000		45,423,123	(b)
CS Master Trust Series 2021-MV Class A†	9.075% (1 mo. USD Term SOFR + 4.01%	)#	8/15/2023			62,700,000		63,226,586
CSAIL Commercial Mortgage Trust Series 2016-C6 Class XA	1.859%	#(h)	1/15/2049			128,399,728		5,201,678
CSAIL Commercial Mortgage Trust Series 2016-C7 Class A5	3.502%		11/15/2049			26,777,993		24,983,651
CSAIL Commercial Mortgage Trust Series 2016-C7 Class XA	0.935%	#(h)	11/15/2049			201,841,034		4,536,761
CSAIL Commercial Mortgage Trust Series 2018-C14 Class A2	4.261%		11/15/2051			3,831,768		3,821,176
CSMC Trust Series 2020-AFC1 Class A1†	2.24%	#(h)	2/25/2050			16,489,482		15,351,629
CSMC Trust Series 2021-BPNY Class A†	8.822% (1 mo. USD LIBOR + 3.71%	)#	8/15/2023			64,750,000		61,910,674
DBGS Mortgage Trust Series 2021-W52 Class A†	6.503% (1 mo. USD LIBOR + 1.39%	)#	10/15/2036			71,290,000		66,697,712
DBJPM Mortgage Trust Series 2016-C3 Class XA	1.423%	#(h)	8/10/2049			180,976,189		6,199,629
DBUBS Mortgage Trust Series 2011-LC3A Class PM4†	5.098%	#(h)	5/10/2044			9,200,000		6,186,665
DBWF Mortgage Trust Series 2015-LCM Class A1†	2.998%		6/10/2034			7,726,250		7,189,417
DBWF Mortgage Trust Series 2015-LCM Class XA†	0.423%	#(h)	6/10/2034			15,267,380		105,517
Deephaven Residential Mortgage Trust Series 2021-3 Class A1†	1.194%	#(h)	8/25/2066			52,238,368		44,601,192
Eleven Madison Mortgage Trust Series 2015-11MD Class A†	3.555%	#(h)	9/10/2035			26,534,000		23,825,879
Ellington Financial Mortgage Trust Series 2020-2 Class A1†	1.178%	#(h)	10/25/2065			8,573,527		7,739,786
Ellington Financial Mortgage Trust Series 2021-1 Class A1†	0.797%	#(h)	2/25/2066			5,244,559		4,418,765
Ellington Financial Mortgage Trust Series 2021-3 Class A1†	1.241%	#(h)	9/25/2066			25,236,791		19,877,794
EQUS Mortgage Trust Series 2021-EQAZ Class B†	6.207% (1 mo. USD LIBOR + 1.10%	)#	10/15/2038			13,670,726		13,145,334
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2013-DN1 Class M2	12.288% (1 mo. USD LIBOR + 7.15%	)#	7/25/2023			27,107,162		27,328,365
Federal National Mortgage Association Connecticut Avenue Securities Series 2013-C01 Class M2	10.388% (1 mo. USD LIBOR + 5.25%	)#	10/25/2023			16,213,382		16,457,429

See Notes to Financial Statements. 269

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R02 Class 2M1†	5.873% (30 day USD SOFR Average + 0.90%	)#	11/25/2041	$	21,864,910	$	21,678,441
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R02 Class 2M2†	6.973% (30 day USD SOFR Average + 2.00%	)#	11/25/2041		18,765,000		17,958,114
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03 Class 2M1	7.473%		4/25/2043		48,607,045		49,100,261
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R04 Class 1M1†	7.273%#		5/25/2043		16,195,000		16,204,474
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2M1†	6.173% (30 day USD SOFR Average + 1.20%	)#	1/25/2042		23,802,536		23,640,890
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R04 Class 1M1†	6.973% (30 day USD SOFR Average + 2.00%	)#	3/25/2042		21,106,893		21,205,377
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R08 Class 1M1†	7.523% (30 day USD SOFR Average + 2.55%	)#	7/25/2042		36,403,259		36,837,019
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M1†	7.381% (30 day USD SOFR Average + 2.40%	)#	12/25/2042		23,067,896		23,245,376
Fontainebleau Miami Beach Trust Series 2019-FBLU Class A†	3.144%		12/10/2036		38,308,590		36,368,061
Fontainebleau Miami Beach Trust Series 2019-FBLU Class B†	3.447%		12/10/2036		16,564,190		15,696,780
Fontainebleau Miami Beach Trust Series 2019-FBLU Class XA†	0.642%	#(h)	12/10/2036		367,400,000		3,335,419
Freddie Mac STACR REMIC Trust Series 2021-DNA6 Class M2†	6.473% (30 day USD SOFR Average + 1.50%	)#	10/25/2041		27,070,000		26,322,124
Freddie Mac STACR REMIC Trust Series 2021-DNA7 Class M1†	5.823% (30 day USD SOFR Average + 0.85%	)#	11/25/2041		25,240,809		24,925,471

270 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Freddie Mac STACR REMIC Trust Series 2021-DNA7 Class M2†	6.773% (30 day USD SOFR Average + 1.80%	)#	11/25/2041	$	46,980,000	$	45,098,841
Freddie Mac STACR REMIC Trust Series 2021-HQA3 Class M1†	5.823% (30 day USD SOFR Average + 0.85%	)#	9/25/2041		61,469,344		59,585,481
Freddie Mac STACR REMIC Trust Series 2021-HQA4 Class M1†	5.923% (30 day USD SOFR Average + 0.95%	)#	12/25/2041		139,143,781		134,458,559
Freddie Mac STACR REMIC Trust Series 2022-DNA1 Class M1A†	5.973% (30 day USD SOFR Average + 1.00%	)#	1/25/2042		42,441,825		41,720,946
Freddie Mac STACR REMIC Trust Series 2022-DNA3 Class M1A†	6.973% (30 day USD SOFR Average + 2.00%	)#	4/25/2042		27,842,122		27,987,148
Freddie Mac STACR REMIC Trust Series 2022-DNA4 Class M1A†	7.173% (30 day USD SOFR Average + 2.20%	)#	5/25/2042		26,760,416		26,999,638
Great Wolf Trust Series 2019-WOLF Class B†	6.508% (1 mo. USD Term SOFR + 1.45%	)#	12/15/2036		14,159,000		13,910,859
GS Mortgage Securities Corp. Series Trust 2012-BWTR Class A†	2.954%		11/5/2034		9,225,000		6,244,030
GS Mortgage Securities Corp. Series Trust 2021-ARDN Class A†	6.357% (1 mo. USD LIBOR + 1.25%	)#	11/15/2036		110,910,000		107,723,700
GS Mortgage Securities Corp. Trust Series 2017-GPTX Class A†	2.856%		5/10/2034		42,390,714		33,531,055
GS Mortgage Securities Corp. Trust Series 2017-GPTX Class B†	3.104%		5/10/2034		31,044,000		21,575,580
GS Mortgage Securities Corp. Trust Series 2017-SLP Class A†	3.419%		10/10/2032		64,894		62,997
GS Mortgage Securities Corp. Trust Series 2018-RIVR Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	7/15/2035		47,601,011		43,496,932
GS Mortgage Securities Corp. Trust Series 2019-70P Class A†	6.107% (1 mo. USD LIBOR + 1.00%	)#	10/15/2036		80,163,670		76,629,166
GS Mortgage Securities Corp. Trust Series 2019-70P Class B†	6.427% (1 mo. USD LIBOR + 1.32%	)#	10/15/2036		31,297,668		29,225,665
GS Mortgage Securities Corp. Trust Series 2019-SMP Class A†	6.257% (1 mo. USD LIBOR + 1.15%	)#	8/15/2032		22,000,000		21,572,965

See Notes to Financial Statements. 271

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
GS Mortgage Securities Corp. Trust Series 2021-RNT2 Class A†	8.207% (1 mo. USD LIBOR + 3.10%	)#	11/21/2023	$	83,880,910	$	83,676,409
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class A†	6.258% (1 mo. USD LIBOR + 1.15%	)#	5/15/2026		47,760,000		43,338,570
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class G†	9.758% (1 mo. USD LIBOR + 4.65%	)#	5/15/2026		15,000,000		11,820,870
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class H†	11.008% (1 mo. USD LIBOR + 5.90%	)#	5/15/2026		19,706,000		15,180,247
GS Mortgage Securities Trust Series 2011-GC5 Class B†	5.153%	#(h)	8/10/2044		39,534,760		32,333,816
GS Mortgage Securities Trust Series 2012-GCJ9 Class XB†	Zero Coupon	#(h)	11/10/2045		39,174,905		392
GS Mortgage Securities Trust Series 2013-GCJ14 Class A5	4.243%		8/10/2046		8,349,741		8,331,325
GS Mortgage Securities Trust Series 2014-GC18 Class A4	4.074%		1/10/2047		13,252,225		13,024,122
GS Mortgage Securities Trust Series 2014-GC26 Class XA	0.915%	#(h)	11/10/2047		69,054,176		681,689
GS Mortgage Securities Trust Series 2015-GC34 Class A4	3.506%		10/10/2048		34,627,000		32,776,329
GS Mortgage Securities Trust Series 2015-GS1 Class XA	0.756%	#(h)	11/10/2048		89,134,721		1,374,342
GS Mortgage Securities Trust Series 2016-GS2 Class A4	3.05%		5/10/2049		28,917,000		26,986,238
GS Mortgage Securities Trust Series 2016-GS2 Class XA	1.728%	#(h)	5/10/2049		160,028,189		6,119,366
GS Mortgage Securities Trust Series 2020-GC45 Class A2	2.898%		2/13/2053		15,180,000		14,383,921
HMH Trust Series 2017-NSS Class A†	3.062%		7/5/2031		33,687,000		31,718,416
HMH Trust Series 2017-NSS Class B†	3.343%		7/5/2031		21,685,000		20,587,197
HMH Trust Series 2017-NSS Class C†	3.787%		7/5/2031		16,116,000		15,219,547
HMH Trust Series 2017-NSS Class D†	4.723%		7/5/2031		21,309,000		19,850,665
HONO Mortgage Trust Series 2021-LULU Class A†	6.257% (1 mo. USD LIBOR + 1.15%	)#	10/15/2036		54,660,000		52,413,004
Houston Galleria Mall Trust Series 2015-HGLR Class A1A2†	3.087%		3/5/2037		54,825,000		51,320,476

272 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Hudsons Bay Simon JV Trust Series 2015-HB10 Class XA10†	1.293%	#(h)	8/5/2034	$	150,785,000	$	21,038
Hudsons Bay Simon JV Trust Series 2015-HB7 Class A7†	3.914%		8/5/2034		61,926,000		54,911,072
Hudsons Bay Simon JV Trust Series 2015-HB7 Class B7†	4.666%		8/5/2034		5,000,000		4,216,515
Hudsons Bay Simon JV Trust Series 2015-HB7 Class XA7†	1.245%	#(h)	8/5/2034		171,661,000		23,688
IMT Trust Series 2017-APTS Class AFX†	3.478%		6/15/2034		1,380,000		1,332,602
JP Morgan Chase Commercial Mortgage Securities Trust Series 2012-WLDN Class A†	3.905%		5/5/2030		66,414,046		52,248,209
JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C12 Class XA	0.239%	#(h)	7/15/2045		2,970,953		30
JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-LC11 Class XA	0.959%	#(h)	4/15/2046		8,230,958		82
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-C24 Class XA	0.847%	#(h)	11/15/2047		87,048,039		594,529
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-C25 Class XA	0.805%	#(h)	11/15/2047		145,673,152		1,243,990
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-C26 Class XA	0.927%	#(h)	1/15/2048		127,899,860		1,240,117
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class A†	3.429%		6/10/2027		163,798,100		62,570,874
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class B†	3.771%		6/10/2027		20,772,000		3,380,643
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class C†	3.805%	#(h)	6/10/2027		14,352,000		1,032,268
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class D†	3.805%	#(h)	6/10/2027		25,795,381		582,331
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class XA†	0.376%	#(h)	6/10/2027		102,274,000		174,758
JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-DSTY Class XB†	0.034%	#(h)	6/10/2027		45,476,000		15,378
JP Morgan Chase Commercial Mortgage Securities Trust Series 2015-C29 Class XA	0.556%	#(h)	5/15/2048		47,328,419		406,991
JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-JP4 Class XA	0.578%	#(h)	12/15/2049		137,609,392		2,117,286
JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-NINE Class A†	2.854%	#(h)	9/6/2038		10,000,000		8,892,170
JP Morgan Chase Commercial Mortgage Securities Trust Series 2017-JP7 Class A3	3.379%		9/15/2050		10,000,000		9,658,988

See Notes to Financial Statements. 273

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2017-JP7 Class XA	0.985%	#(h)	9/15/2050	$	262,388,574	$	7,642,933
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class A†	6.377% (1 mo. USD LIBOR + 1.27%	)#	11/15/2035		13,730,000		13,242,846
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class B†	6.707% (1 mo. USD LIBOR + 1.60%	)#	11/15/2035		10,053,000		9,605,275
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class C†	7.057% (1 mo. USD LIBOR + 1.95%	)#	11/15/2035		8,746,000		8,223,302
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-PTC Class A†	6.557% (1 mo. USD LIBOR + 1.45%	)#	4/15/2031		25,048,000		21,657,127
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-PTC Class B†	7.257% (1 mo. USD LIBOR + 2.15%	)#	4/15/2031		14,359,000		12,196,894
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-PTC Class C†	7.657% (1 mo. USD LIBOR + 2.55%	)#	4/15/2031		10,408,000		8,692,501
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-WPT Class AFX†	4.248%		7/5/2033		69,261,000		62,582,508
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-WPT Class XAFX†	1.116%	#(h)	7/5/2033		155,900,000		21,015
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-ICON Class A†	3.884%		1/5/2034		32,965,000		32,052,895
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-ICON Class B†	4.235%		1/5/2034		13,737,000		13,352,717
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-ICON Class C†	4.536%		1/5/2034		12,800,000		12,411,621
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class A†	6.924% (1 mo. USD Term SOFR + 1.86%	)#	9/15/2029		39,509,392		39,542,718	(b)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class B†	7.824% (1 mo. USD Term SOFR + 2.76%	)#	9/15/2029		15,299,000		15,315,616	(b)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class C†	8.524% (1 mo. USD Term SOFR + 3.46%	)#	9/15/2029		11,384,000		11,388,700	(b)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class D†	9.524% (1 mo. USD Term SOFR + 4.46%	)#	9/15/2029		14,048,000		14,043,965	(b)

274 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-PCC Class E†	10.524% (1 mo. USD Term SOFR + 5.46%	)#	9/15/2029	$	8,338,000	$	8,319,367	(b)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-UES Class A†	3.81%		5/5/2032		6,460,000		6,273,348
JP Morgan Chase Commercial Mortgage Securities Trust Series 2021-BOLT Class A†	6.408% (1 mo. USD LIBOR + 1.30%	)#	8/15/2033		50,480,000		50,411,948
JP Morgan Chase Commercial Mortgage Securities Trust Series 2021-BOLT Class B†	7.558% (1 mo. USD LIBOR + 2.45%	)#	8/15/2033		41,740,000		41,782,082
JP Morgan Chase Commercial Mortgage Securities Trust Series 2021-BOLT Class C†	9.058% (1 mo. USD LIBOR + 3.95%	)#	8/15/2033		37,430,000		37,418,505
JP Morgan Chase Commercial Mortgage Securities Trust Series 2022-NLP Class A†	5.656% (1 mo. USD Term SOFR + 0.60%	)#	4/15/2037		44,293,822		42,102,952
JPMBB Commercial Mortgage Securities Trust Series 2015-C30 Class XA	0.425%	#(h)	7/15/2048		106,423,538		806,765
JPMDB Commercial Mortgage Securities Trust Series 2020-COR7 Class A2	2.215%		5/13/2053		14,750,000		13,341,238
Key Commercial Mortgage Securities Trust Series 2019-S2 Class A1†	2.656%		6/15/2052		5,621,583		5,411,959
Key Commercial Mortgage Securities Trust Series 2019-S2 Class X†	1.423%	#(h)	6/15/2052		115,901,146		6,576,236
KIND Trust Series 2021-KIND Class A†	6.124% (1 mo. USD Term SOFR + 1.06%	)#	8/15/2038		81,908,023		76,987,972
KKR Industrial Portfolio Trust Series 2021-KDIP Class A†	5.724% (1 mo. USD Term SOFR + 0.66%	)#	12/15/2037		11,185,397		11,054,398
Ladder Capital Commercial Mortgage Trust Series 2013-GCP Class A1†	3.575%		2/15/2036		5,118,135		4,752,780
Life Mortgage Trust Series 2022-BMR2 Class A1†	6.355% (1 mo. USD Term SOFR + 1.30%	)#	5/15/2039		55,580,000		54,496,273
LoanCore Issuer Ltd. Series 2019-CRE3 Class AS†	6.477% (1 mo. USD LIBOR + 1.37%	)#	4/15/2034		5,412,257		5,313,505
LSTAR Commercial Mortgage Trust Series 2016-4 Class XA†	1.687%	#(h)	3/10/2049		59,171,110		1,050,678
LSTAR Commercial Mortgage Trust Series 2017-5 Class A3†	4.50%		3/10/2050		51,919,373		51,859,235
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-CKSV Class A2†	3.277%		10/15/2030		14,775,117		11,869,298

See Notes to Financial Statements. 275

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C9 Class XA	0.447%	#(h)	5/15/2046	$	12,178,548	$	122
Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C9 Class XB†	0.161%	#(h)	5/15/2046		107,177,251		11,790
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014 C19 Class XA	0.953%	#(h)	12/15/2047		98,787,282		922,802
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C17 Class A4	3.443%		8/15/2047		5,784,540		5,646,074
Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C29 Class A4	3.325%		5/15/2049		18,050,000		17,045,602
Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C29 Class XA	1.512%	#(h)	5/15/2049		108,450,503		3,451,448
Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C31 Class XA	1.273%	#(h)	11/15/2049		225,217,488		7,272,295
Morgan Stanley Capital I Trust Series 2015-420 Class A†	3.727%		10/12/2050		22,353,128		20,664,644
Morgan Stanley Capital I Trust Series 2015-UBS8 Class ASB	3.626%		12/15/2048		4,432,507		4,298,606
Morgan Stanley Capital I Trust Series 2016-UB11 Class XA	1.439%	#(h)	8/15/2049		67,759,698		2,450,435
Morgan Stanley Capital I Trust Series 2016-UB11 Class XB	0.882%	#(h)	8/15/2049		121,222,774		3,056,632
MSCG Trust Series 2015-ALDR Class A1†	2.612%		6/7/2035		7,678,141		7,266,590
MTK Mortgage Trust Series 2021-GRNY Class A†	6.857% (1 mo. USD LIBOR + 1.75%	)#	12/15/2038		68,552,500		66,169,741
MTK Mortgage Trust Series 2021-GRNY Class B†	7.757% (1 mo. USD LIBOR + 2.65%	)#	12/15/2038		22,648,900		21,777,987
MTK Mortgage Trust Series 2021-GRNY Class C†	8.507% (1 mo. USD LIBOR + 3.40%	)#	12/15/2038		9,458,500		9,057,569
MTN Commercial Mortgage Trust Series 2022-LPFL Class A†	6.456% (1 mo. USD Term SOFR + 1.40%	)#	3/15/2039		13,544,000		13,344,337
Natixis Commercial Mortgage Securities Trust Series 2018-285M Class A†	3.79%	#(h)	11/15/2032		47,581,000		44,502,029
Natixis Commercial Mortgage Securities Trust Series 2018-285M Class B†	3.79%	#(h)	11/15/2032		17,029,000		15,452,860
New Residential Mortgage Loan Trust Series 2020-NQM1 Class A1†	2.464%	#(h)	1/26/2060		6,173,029		5,657,720
NYO Commercial Mortgage Trust Series 2021-1290 Class A†	6.27% (1 mo. USD Term SOFR + 1.21%	)#	11/15/2038		38,850,000		35,463,181
One Bryant Park Trust Series 2019-OBP Class A†	2.516%		9/15/2054		3,520,000		2,893,636

276 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
One New York Plaza Trust Series 2020-1NYP Class A†		6.057% (1 mo. USD LIBOR + 0.95%	)#	1/15/2036	$	86,000,000	$	81,650,146
One New York Plaza Trust Series 2020-1NYP Class AJ†		6.357% (1 mo. USD LIBOR + 1.25%	)#	1/15/2036		59,595,000		55,492,266
Palisades Center Trust Series 2016-PLSD Class A†		2.713%		4/13/2033		6,735,000		3,878,889
Palisades Center Trust Series 2016-PLSD Class C†		3.998%		4/13/2033		40,040,000		5,385,580
Palisades Center Trust Series 2016-PLSD Class D†		4.737%		4/13/2033		34,071,926		1,614,549
PFP Ltd. Series 2021-7 Class A†		5.957% (1 mo. USD LIBOR + 0.85%	)#	4/14/2038		778,858		769,158
Prima Capital CRE Securitization Ltd. Series 2019-7A Class A†		2.25%		12/25/2050		3,655,179		3,670,476	(b)
RBS Commercial Funding, Inc. Trust Series 2013-SMV Class A†		3.26%		3/11/2031		57,896,000		55,007,435
Ready Capital Mortgage Financing LLC Series 2021-FL6 Class A†		6.088% (1 mo. USD LIBOR + 0.95%	)#	7/25/2036		68,778,344		66,658,648
Ready Capital Mortgage Financing LLC Series 2022-FL8 Class A†	6.631% (30 day USD SOFR Average + 1.65%		)#	1/25/2037		51,473,306		50,674,492
Ready Capital Mortgage Trust Series 2019-5 Class A†		3.777%		2/25/2052		1,011,132		998,817
ReadyCap Commercial Mortgage Trust Series 2018-4 Class A†		3.39%		2/27/2051		2,382,229		2,285,800
ReadyCap Commercial Mortgage Trust Series 2019-6 Class A†		2.833%		10/25/2052		18,785,184		17,551,549
Residential Mortgage Loan Trust Series 2020-1 Class A1†		2.376%	#(h)	1/26/2060		3,268,341		3,096,600
SFO Commercial Mortgage Trust Series 2021-555 Class A†		6.257% (1 mo. USD LIBOR + 1.15%	)#	5/15/2038		60,000,000		53,287,728
Shops at Crystals Trust Series 2016-CSTL Class XA†		0.606%	#(h)	7/5/2036		112,000,000		1,772,689
SHOW Trust Series 2022-BIZ Class A†		8.035% (1 mo. USD Term SOFR + 2.98%	)#	1/15/2027		186,000,000		186,413,973
SMRT Commercial Mortgage Trust Series 2022-MINI Class A†		6.06% (1 mo. USD Term SOFR + 1.00%	)#	1/15/2039		112,590,000		109,370,162
SREIT Trust Series 2021-MFP Class A†		5.838% (1 mo. USD LIBOR + 0.73%	)#	11/15/2038		25,100,000		24,284,642

See Notes to Financial Statements. 277

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Starwood Mortgage Residential Trust Series 2020-1 Class A1†	2.275%	#(h)	2/25/2050	$	1,251,559	$	1,188,187
Starwood Mortgage Residential Trust Series 2021-2 Class A1†	0.943%	#(h)	5/25/2065		7,580,301		6,766,095
UBS Commercial Mortgage Trust Series 2017-C6 Class XA	1.154%	#(h)	12/15/2050		271,632,332		10,515,811
UBS-Barclays Commercial Mortgage Trust Series 2012-C2 Class XA†	0.522%	#(h)	5/10/2063		12,165,910		122
UBS-Barclays Commercial Mortgage Trust Series 2013-C5 Class B†	3.649%	#(h)	3/10/2046		5,162,708		4,753,832
UBS-Barclays Commercial Mortgage Trust Series 2013-C6 Class XA†	0.78%	#(h)	4/10/2046		8,910,297		89
VASA Trust Series 2021-VASA Class B†	6.357% (1 mo. USD LIBOR + 1.25%	)#	7/15/2039		20,502,000		18,844,868
Verus Securitization Trust Series 2020-1 Class A1†	2.417%		1/25/2060		5,028,963		4,733,782
Verus Securitization Trust Series 2020-4 Class A1†	1.502%		5/25/2065		11,858,271		10,905,944
Verus Securitization Trust Series 2020-5 Class A1†	1.218%		5/25/2065		12,284,555		11,172,501
Verus Securitization Trust Series 2021-1 Class A1†	0.815%	#(h)	1/25/2066		22,028,113		18,860,118
Verus Securitization Trust Series 2021-3 Class A1†	1.046%	#(h)	6/25/2066		36,096,590		30,236,818
Verus Securitization Trust Series 2021-5 Class A1†	1.013%	#(h)	9/25/2066		32,472,198		26,447,199
Verus Securitization Trust Series 2021-R2 Class A1†	0.918%	#(h)	2/25/2064		7,870,164		6,833,965
Verus Securitization Trust Series 2021-R3 Class A1†	1.02%	#(h)	4/25/2064		23,854,992		21,236,484
Wells Fargo Commercial Mortgage Trust Series 2014-LC16 Class A5	3.817%		8/15/2050		13,277,000		12,899,076
Wells Fargo Commercial Mortgage Trust Series 2015-C29 Class XA	0.59%	#(h)	6/15/2048		122,363,558		1,191,894
Wells Fargo Commercial Mortgage Trust Series 2015-SG1 Class XA	0.652%	#(h)	9/15/2048		141,105,040		1,561,059
Wells Fargo Commercial Mortgage Trust Series 2016-BNK1 Class XA	1.714%	#(h)	8/15/2049		182,683,012		7,310,682
Wells Fargo Commercial Mortgage Trust Series 2016-C32 Class A4	3.56%		1/15/2059		18,500,000		17,519,951
Wells Fargo Commercial Mortgage Trust Series 2016-C34 Class XA	2.061%	#(h)	6/15/2049		117,688,245		4,400,434
Wells Fargo Commercial Mortgage Trust Series 2017-SMP Class B†	6.232% (1 mo. USD LIBOR + 1.13%	)#	12/15/2034		16,322,000		15,597,228
Wells Fargo Commercial Mortgage Trust Series 2018-C44 Class A2	4.178%		5/15/2051		12,053,251		11,761,695
Wells Fargo Commercial Mortgage Trust Series 2018-C47 Class A2	4.361%		9/15/2061		17,688,788		17,528,935

278 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
WFLD Mortgage Trust Series 2014-MONT Class A†	3.755%	#(h)	8/10/2031	$	7,750,000	$	6,876,353
WF-RBS Commercial Mortgage Trust Series 2012-C10 Class XA†	1.151%	#(h)	12/15/2045		2,344,141		23
WF-RBS Commercial Mortgage Trust Series 2013-C13 Class XA†	0.737%	#(h)	5/15/2045		12,390,166		793
WF-RBS Commercial Mortgage Trust Series 2014-C19 Class A4	3.829%		3/15/2047		8,371,990		8,234,919
WF-RBS Commercial Mortgage Trust Series 2014-C19 Class A5	4.101%		3/15/2047		25,388,286		24,882,876
WF-RBS Commercial Mortgage Trust Series 2014-C20 Class A5	3.995%		5/15/2047		9,160,000		8,907,305
WFRBS Commercial Mortgage Trust Series 2014-C21 Class A4	3.41%		8/15/2047		12,037,495		11,693,786
WF-RBS Commercial Mortgage Trust Series 2014-C21 Class XB	0.643%	#(h)	8/15/2047		77,368,500		578,771
WF-RBS Commercial Mortgage Trust Series 2014-C22 Class XA	0.779%	#(h)	9/15/2057		72,033,379		464,846
WF-RBS Commercial Mortgage Trust Series 2014-C22 Class XB	0.452%	#(h)	9/15/2057		37,769,102		166,161
Total Non-Agency Commercial Mortgage-Backed Securities (cost $7,178,248,410)							6,452,358,754
U.S. TREASURY OBLIGATIONS 4.69%
U.S. Treasury Inflation-Indexed Notes(j)	0.25%		1/15/2025		325,796,392		313,858,281
U.S. Treasury Notes	3.875%		3/31/2025		606,625,000		599,658,288
U.S. Treasury Notes	3.875%		4/30/2025		763,926,000		755,660,084
U.S. Treasury Notes	4.125%		1/31/2025		539,389,000		534,848,439
Total U.S. Treasury Obligations (cost $2,216,184,843)							2,204,025,092
Total Long-Term Investments (cost $48,233,681,473)							46,305,047,666
SHORT-TERM INVESTMENTS 1.18%
COMMERCIAL PAPER 0.79%
Auto Manufacturers 0.09%
General Motors Financial Co., Inc.	5.68%		8/22/2023		41,707,000		41,184,504
Chemicals 0.08%
FMC Corp.	6.175%		7/10/2023		38,742,000		38,490,177
Commercial Services 0.01%
Global Payments, Inc.	5.912%		6/1/2023		6,784,000		6,784,000

See Notes to Financial Statements. 279

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Electric 0.19%
AES Corp.	5.983%	6/1/2023	$	25,207,000	$	25,207,000
RWE AG	6.019%	7/11/2023		63,045,000		62,631,705
Total						87,838,705
Equity Real Estate 0.05%
Crown Castle, Inc.	6.009%	6/8/2023		25,000,000		24,971,320
Finance 0.22%
Brookfield Infrastructure Holdings Canada, Inc.	6.184%	7/20/2023		32,000,000		31,738,666
Brookfield Infrastructure Holdings Canada, Inc.	6.186%	7/20/2023		45,300,000		44,930,050
Brookfield Infrastructure Holdings Canada, Inc.	6.485%	10/5/2023		24,725,000		24,222,588
Total						100,891,304
Oil & Gas 0.15%
Ovintiv, Inc.	6.093%	6/16/2023		51,618,000		51,490,030
Ovintiv, Inc.	6.167%	6/9/2023		20,000,000		19,973,111
Total						71,463,141
Total Commercial Paper (cost $371,589,031)						371,623,151
REPURCHASE AGREEMENTS 0.39%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $100,151,000 of U.S. Treasury Note at 0.500% due 2/28/2026; $94,282,400 of U.S. Treasury Note at 4.00% due 2/15/2026; value: $184,676,396; proceeds: $181,068,294 (cost $181,055,218)				181,055,218		181,055,218
Total Short-Term Investments (cost $552,644,249)						552,678,369
Total Investments in Securities 99.78% (cost $48,786,325,722)						46,857,726,035
Other Assets and Liabilities – Net(k) 0.22%						104,211,970
Net Assets 100.00%					$	46,961,938,005

CAD	Canadian Dollar.
CMT	Constant Maturity Rate.
IO	Interest Only.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $22,771,290,155, which represents 48.49% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
*	Non-income producing security.
(a)	Investment in non-U.S. dollar denominated securities.
(b)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.

280 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

(c)	Foreign security traded in U.S. dollars.
(d)	Securities purchased on a when-issued basis (See Note 2(j)).
(e)	Defaulted (non-income producing security).
(f)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(g)	Interest Rate to be determined.
(h)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(i)	Maturity date has passed. As of May 31, 2023, an extension is available to June 15, 2024.
(j)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(k)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

Centrally Cleared Credit Default Swap Contracts on Issuers - Sell Protection at May 31, 2023⁽¹⁾:

Referenced Indexes	Central Clearing Party	Fund Receives (Quarterly)	Termination Date	Notional Amount	Payments Upfront(2)		Unrealized Appreciation(3)		Value
Ford Motor Company(4)(5)	Goldman Sachs	5.000%	12/20/2023	$50,000,000	$	624,709	$	447,873	$	1,072,582
Ford Motor Company(4)(5)	Goldman Sachs	5.000%	12/20/2023	25,000,000		516,826		7,574		524,400
					$	1,141,535	$	455,447	$	1,596,982

(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.
(2)	Upfront payments paid (received) by Central Clearing Party are presented net of amortization.
(3)	Total unrealized appreciation on Credit Default Swap Contracts on Indexes amounted to $455,447. Total unrealized depreciation on Credit Default Swap Contracts on Indexes amounted to $0.
(4)	Central Clearinghouse: Intercontinental Exchange (ICE).
(5)	Moody’s Credit Rating: Baa3.

Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at May 31, 2023:

Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount			Value/Unrealized Appreciation
Goldman Sachs	2.399%	CPI Urban Consumer NSA	10/4/2023	$	270,511,787			$	2,072,699
Goldman Sachs	4.145%	CPI Urban Consumer NSA	4/15/2024		261,224,873				897,801
Total Unrealized Appreciation on Centrally Cleared CPI Swap Contracts								$	2,970,500
Swap Counterparty	Payments to be Made By The Fund at Termination Date	Payments to be Received By The Fund at Termination Date	Termination Date	Notional Amount		Value/Unrealized Depreciation
Goldman Sachs	2.548%	CPI Urban Consumer NSA	3/27/2025		245,000,000				(988,629	)
Goldman Sachs	2.750%	CPI Urban Consumer NSA	3/24/2024		245,000,000				(210,271	)
Total Unrealized Depreciation on Centrally Cleared CPI Swap Contracts								$	(1,198,900	)

See Notes to Financial Statements. 281

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Credit Default Swap Contracts on Indexes - Sell Protection at May 31, 2023⁽¹⁾:

Referenced Indexes*	Swap Counterparty	Fund Receives (Quarterly)	Termination Date	Notional Amount	Payments Upfront(2)			Unrealized Appreciation/ (Depreciation)(3)			Credit Default Swap Agreements Payable at Fair Value(4)
Markit CMBX. NA.A.10	Morgan Stanley	2.000%	11/17/2059	15,000,000	$	(71,516	)	$	(1,417,205	)	$	(1,488,721	)
Markit CMBX. NA.A.10	Morgan Stanley	2.000%	11/17/2059	25,000,000		(115,793	)		(2,365,409	)		(2,481,202	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	3,438,188		(32,711	)		(388,639	)		(421,350	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	1,719,094		(26,702	)		(183,973	)		(210,675	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	859,547		(9,733	)		(95,604	)		(105,337	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	1,719,094		(31,342	)		(179,333	)		(210,675	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	859,547		(12,816	)		(92,521	)		(105,337	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	1,719,094		(18,937	)		(191,738	)		(210,675	)
Markit CMBX. NA.AA.6	Citibank	1.500%	5/11/2063	1,719,094		(19,467	)		(191,208	)		(210,675	)
Markit CMBX. NA.AA.6	Morgan Stanley	1.500%	5/11/2063	5,157,281		(42,937	)		(589,088	)		(632,025	)
Markit CMBX. NA.AA.7	Citibank	1.500%	1/17/2047	34,436,297		(510,606	)		(1,550,317	)		(2,060,923	)
Markit CMBX. NA.AA.7	Citibank	1.500%	1/17/2047	24,597,355		(420,607	)		(1,051,481	)		(1,472,088	)
Markit CMBX. NA.AA.7	Citibank	1.500%	1/17/2047	19,677,884		(297,260	)		(880,410	)		(1,177,670	)
Markit CMBX. NA.AA.8	Morgan Stanley	1.500%	10/17/2057	25,000,000		(66,097	)		(400,173	)		(466,270	)
					$	(1,676,524	)	$	(9,577,099	)	$	(11,253,623	)

*	The Referenced Index is for the Credit Default Swap Contracts on Indexes, which is comprised of a basket of commercial mortgage-backed securities.
(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.
(2)	Upfront payments paid (received) are presented net of amortization.
(3)	Total unrealized appreciation on Credit Default Swap Contracts on Indexes amounted to $0. Total unrealized depreciation on Credit Default Swap Contracts on Indexes amounted to $9,577,099.
(4)	Includes upfront payments paid (received).

282 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SHORT DURATION INCOME FUND May 31, 2023

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency	U.S. $ Cost on Origination Date	U.S. $ Current Value	Unrealized Appreciation
Canadian dollar	Sell	State Street Bank and Trust	7/20/2023	33,790,000	$25,149,603	$24,919,804	$229,799

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 2-Year Treasury Note	September 2023	109,272	Long		$22,482,642,592			$22,491,250,984			$  8,608,392
U.S. 5-Year Treasury Note	September 2023	34,109	Short		(3,723,016,467	)		(3,720,545,766	)		2,470,701
Total Unrealized Appreciation on Futures Contracts											$11,079,093

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type	Level 1		Level 2		Level 3		Total
Long-Term Investments(2)
Asset-Backed Securities
Other	$	–	$	6,407,888,346	$	33,568,057	$	6,441,456,403
Remaining Industries		–		4,914,350,389		–		4,914,350,389
Common Stocks		5,164		–		–		5,164
Corporate Bonds		–		24,168,322,970		–		24,168,322,970
Floating Rate Loans		–		1,982,694,183		–		1,982,694,183
Government Sponsored Enterprises Collateralized Mortgage Obligations		–		13,744,378		20,471		13,764,849
Government Sponsored Enterprises Pass-Throughs		–		107,981,044		–		107,981,044
Municipal Bonds		–		20,088,818		–		20,088,818
Non-Agency Commercial Mortgage-Backed Securities		–		6,314,654,789		137,703,965		6,452,358,754
U.S. Treasury Obligations		–		2,204,025,092		–		2,204,025,092
Short-Term Investments
Commercial Paper		–		371,623,151		–		371,623,151
Repurchase Agreements		–		181,055,218		–		181,055,218
Total	$	5,164	$	46,686,428,378	$	171,292,493	$	46,857,726,035

See Notes to Financial Statements. 283

Schedule of Investments (unaudited)(concluded)

SHORT DURATION INCOME FUND May 31, 2023

Other Financial Instruments	Level 1		Level 2			Level 3		Total
Centrally Cleared Credit Default Swap Contracts
Assets	$	–	$	1,596,982		$	–	$	1,596,982
Liabilities		–		–			–		–
Centrally Cleared CPI Swap Contracts
Assets		–		2,970,500			–		2,970,500
Liabilities		–		(1,198,900	)		–		(1,198,900	)
Credit Default Swap Contracts
Assets		–		–			–		–
Liabilities		–		(11,253,623	)		–		(11,253,623	)
Forward Foreign Currency Exchange Contracts
Assets		–		229,799			–		229,799
Liabilities		–		–			–		–
Futures Contracts
Assets		11,079,093		–			–		11,079,093
Liabilities		–		–			–		–
Total	$	11,079,093	$	(7,655,242	)	$	–	$	3,423,851

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

284 See Notes to Financial Statements.

Schedule of Investments (unaudited)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 109.73%
ASSET-BACKED SECURITIES 14.03%
Automobiles 4.24%
Avid Automobile Receivables Trust Series 2019-1 Class C†	3.14%	7/15/2026	$	315,155	$	314,212
BMW Vehicle Lease Trust Series 2023-1 Class A4	5.07%	6/25/2026		11,350,000		11,309,694
Capital One Prime Auto Receivables Trust Series 2022-1 Class A2	2.71%	6/16/2025		1,613,764		1,593,091
Carvana Auto Receivables Trust Series 2019-3A Class E†	4.60%	7/15/2026		4,236,000		4,143,806
Carvana Auto Receivables Trust Series NP1 2020-N1A Class E†	5.20%	7/15/2027		9,077,000		8,690,389
CPS Auto Receivables Trust Series 2019-B Class E†	5.00%	3/17/2025		1,246,696		1,237,907
CPS Auto Receivables Trust Series 2020-A Class E†	4.09%	12/15/2025		812,000		797,849
Flagship Credit Auto Trust Series 2018-4 Class E†	5.51%	3/16/2026		9,800,000		9,670,011
Flagship Credit Auto Trust Series 2022-3 Class A3†	4.55%	4/15/2027		11,120,000		10,942,567
Ford Credit Auto Lease Trust Series 2023-A Class A3	4.94%	3/15/2026		13,850,000		13,765,411
GM Financial Automobile Leasing Trust Series 2022-2 Class A2	2.93%	10/21/2024		9,047,268		8,964,218
GM Financial Automobile Leasing Trust Series 2023-1 Class A3	5.16%	4/20/2026		12,200,000		12,176,621
GM Financial Automobile Leasing Trust Series 2023-1 Class B	5.51%	1/20/2027		10,505,000		10,493,627
Santander Drive Auto Receivables Trust Series 2022-5 Class C	4.74%	10/16/2028		5,884,000		5,759,651
Santander Drive Auto Receivables Trust Series 2022-6 Class C	4.96%	11/15/2028		12,785,000		12,559,005
Tricolor Auto Securitization Trust Series 2021-1A Class E†	3.23%	9/15/2026		4,270,000		4,135,569
Westlake Automobile Receivables Trust Series 2020-3A Class E†	3.34%	6/15/2026		8,700,000		8,364,447
Westlake Automobile Receivables Trust Series 2021-1A Class E†	2.33%	8/17/2026		3,045,000		2,867,702
Westlake Automobile Receivables Trust Series 2023-1A Class C†	5.74%	8/15/2028		4,415,000		4,403,669
Total						132,189,446
Credit Card 1.40%
BA Credit Card Trust Series 2022-A2 Class A2	5.00%	4/15/2028		9,150,000		9,202,881
Discover Card Execution Note Trust Series 2022-A3 Class A3	3.56%	7/15/2027		10,895,000		10,613,524

See Notes to Financial Statements. 285

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Credit Card (continued)
Genesis Sales Finance Master Trust Series 2021-AA Class B†	1.45%		12/21/2026	$	8,410,000	$	7,843,095
Genesis Sales Finance Master Trust Series 2021-AA Class D†	2.09%		12/21/2026		4,000,000		3,499,058
Perimeter Master Note Business Trust Series 2019-2A Class A†	4.23%		5/15/2024		7,083,347		6,982,933
Perimeter Master Note Business Trust Series 2021-1A Class B†	4.17%		12/15/2026		5,875,000		5,498,987
Total							43,640,478
Other 8.36%
Affirm Asset Securitization Trust Series 2023-A Class 1A†	6.61%		1/18/2028		8,430,000		8,411,485
AMMC CLO XIII Ltd. Series 2013-13A Class A2LR†	6.973%  (3 mo. USD LIBOR + 1.70%	)#	7/24/2029		810,000		803,521
Apidos CLO XXVI Series 2017-26A Class A2R†	6.762%  (3 mo. USD LIBOR + 1.50%	)#	7/18/2029		3,300,000		3,224,421
Apidos CLO XXXV Series 2021-35A Class A†	6.30%  (3 mo. USD LIBOR + 1.05%	)#	4/20/2034		4,660,000		4,550,641
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class A†	6.207%  (1 mo. USD LIBOR + 1.10%	)#	5/15/2036		5,850,000		5,720,626
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class E†	8.057%  (1 mo. USD LIBOR + 2.95%	)#	5/15/2036		1,930,000		1,789,614
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL3 Class A†	6.177%  (1 mo. USD LIBOR + 1.07%	)#	8/15/2034		5,910,000		5,725,820
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL4 Class A†	6.457%  (1 mo. USD LIBOR + 1.35%	)#	11/15/2036		14,060,000		13,767,468
Ares XL CLO Ltd. Series 2016-40A Class A1RR†	6.13%  (3 mo. USD LIBOR + 0.87%	)#	1/15/2029		3,335,727		3,305,838
Avant Loans Funding Trust Series 2022-REV1 Class A†	6.54%		9/15/2031		15,210,000		15,070,056
Ballyrock CLO Ltd. Series 2020-2A Class A1R†	6.26%  (3 mo. USD LIBOR + 1.01%	)#	10/20/2031		6,120,000		6,042,821
Barings CLO Ltd. Series 2019-3A Class A1R†	6.32%  (3 mo. USD LIBOR + 1.07%	)#	4/20/2031		5,500,000		5,422,520
BlueMountain CLO XXXI Ltd. Series 2021-31A Class A1†	6.415% (3 mo. USD LIBOR + 1.15%	)#	4/19/2034		6,950,000		6,785,285
Carlyle U.S. CLO Ltd. Series 2017-1A Class A1AR†	6.33% (3 mo. USD LIBOR + 1.08%	)#	4/20/2031		7,700,000		7,581,721

286 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Carlyle U.S. CLO Ltd. Series 2017-3A Class A1AR†	6.15%  (3 mo. USD LIBOR + 0.90%	)#	7/20/2029	$	6,835,146	$	6,758,807
CIFC Funding V Ltd. Series 2014-5A Class A1R2†	6.46%  (3 mo. USD LIBOR + 1.20%	)#	10/17/2031		3,830,000		3,791,110
Consumer Loan Underlying Bond CLUB Credit Trust Series 2019-P2 Class C†	4.41%		10/15/2026		799,776		796,389
Dryden Senior Loan Fund Series 2017-47A Class BR†	6.73%  (3 mo. USD LIBOR + 1.47%	)#	4/15/2028		12,670,000		12,436,625
Fairstone Financial Issuance Trust Series I 2020-1A Class C†(a)	5.162%		10/20/2039	CAD	20,760,000		14,982,540
Fairstone Financial Issuance Trust Series I 2020-1A Class D†(a)	6.873%		10/20/2039	CAD	2,649,000		1,912,148
Galaxy XXI CLO Ltd. Series 2015-21A Class AR†	6.27%  (3 mo. USD LIBOR + 1.02%	)#	4/20/2031	$	1,970,000		1,945,868
Greywolf CLO VII Ltd. Series 2018-2A Class A1†	6.489%  (3 mo. USD Term SOFR + 1.44%	)#	10/20/2031		3,800,000		3,770,920
HGI CRE CLO Ltd. Series 2021-FL1 Class C†	6.805%  (1 mo. USD LIBOR + 1.70%	)#	6/16/2036		2,350,000		2,180,020
Lending Funding Trust Series 2020-2A Class A†	2.32%		4/21/2031		11,751,000		10,523,961
Lendmark Funding Trust Series 2021-1A Class A†	1.90%		11/20/2031		8,300,000		7,236,788
Lendmark Funding Trust Series 2021-2A Class D†	4.46%		4/20/2032		4,025,000		3,056,016
LoanCore Issuer Ltd. Series 2022-CRE7 Class A†	6.456%  (30 day USD SOFR Average + 1.55%	)#	1/17/2037		8,100,000		7,962,892
Marble Point CLO XVII Ltd. Series 2020-1A Class A†	6.55% (3 mo. USD LIBOR + 1.30%	)#	4/20/2033		7,154,498		7,018,563
Mariner Finance Issuance Trust Series 2021-BA Class E†	4.68%		11/20/2036		4,100,000		3,192,103
ME Funding LLC Series 2019-1 Class A2†	6.448%		7/30/2049		13,089,260		12,789,852
MF1 Ltd. Series 2022-FL8 Class A†	6.273%  (30 day USD SOFR Average + 1.35%	)#	2/19/2037		4,610,000		4,502,543
Mountain View CLO LLC Series 2017-1A Class AR†	6.35%  (3 mo. USD LIBOR + 1.09%	)#	10/16/2029		4,469,183		4,437,640
Parallel Ltd. Series 2017-1A Class A1R†	6.28%  (3 mo. USD LIBOR + 1.03%	)#	7/20/2029		1,532,480		1,520,203
RAD CLO 6 Ltd. Series 2019-6A Class A1†	6.63%  (3 mo. USD LIBOR + 1.38%	)#	1/20/2033		8,550,000		8,457,660
Rockford Tower CLO Ltd. Series 2018-1A Class A†	6.479%  (3 mo. USD LIBOR + 1.10%	)#	5/20/2031		9,551,309		9,403,500
SCF Equipment Leasing LLC Series 2019-2A Class B†	2.76%		8/20/2026		9,263,000		8,986,231

See Notes to Financial Statements. 287

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
SCF Equipment Leasing LLC Series 2021-1A Class D†	1.93%		9/20/2030	$	8,430,000	$	7,522,033
SCF Equipment Leasing LLC Series 2021-1A Class E†	3.56%		8/20/2032		2,800,000		2,572,524
SEB Funding LLC Series 2021-1A Class A2†	4.969%		1/30/2052		9,595,950		8,486,807
Signal Peak CLO Ltd. Series 2020-8A Class A†	6.52%  (3 mo. USD LIBOR + 1.27%	)#	4/20/2033		12,021,647		11,805,513
Sunrun Demeter Issuer LLC Series 2021-2A Class A†	2.27%		1/30/2057		1,705,407		1,364,775
TCW CLO Ltd. Series 2022 1A Class A1†	6.411%  (3 mo. USD Term SOFR + 1.34%	)#	4/22/2033		3,500,000		3,441,375
Total							261,057,243
Student Loan 0.03%
Towd Point Asset Trust Series 2018-SL1 Class A†	5.738%  (1 mo. USD LIBOR + 0.60%	)#	1/25/2046		852,588		847,811
Total Asset-Backed Securities (cost $453,637,011)							437,734,978
CORPORATE BONDS 44.03%
Aerospace/Defense 0.29%
Bombardier, Inc. (Canada)†(b)	6.00%		2/15/2028		6,595,000		6,090,939
TransDigm, Inc.	4.625%		1/15/2029		3,334,000		2,959,025
Total							9,049,964
Agriculture 1.16%
BAT Capital Corp.	3.222%		8/15/2024		17,009,000		16,513,585
Cargill, Inc.†	4.00%		6/22/2032		8,575,000		8,015,929
Philip Morris International, Inc.	5.625%		11/17/2029		6,862,000		7,035,457
Viterra Finance BV (Netherlands)†(b)	4.90%		4/21/2027		4,776,000		4,580,868
Total							36,145,839
Airlines 0.68%
American Airlines, Inc.†	7.25%		2/15/2028		3,259,000		3,193,117
American Airlines, Inc.†	11.75%		7/15/2025		3,068,000		3,363,466
British Airways Pass-Through Trust Series 2020-1 Class A (United Kingdom)†(b)	4.25%		5/15/2034		6,451,696		6,010,003
Delta Air Lines, Inc.†	7.00%		5/1/2025		8,298,000		8,529,046
Total							21,095,632
Apparel 0.18%
Levi Strauss & Co.†	3.50%		3/1/2031		3,985,000		3,299,939
PVH Corp.	7.75%		11/15/2023		2,290,000		2,315,518
Total							5,615,457

288 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Auto Manufacturers 0.25%
Ford Motor Co.	3.25%		2/12/2032	$	10,339,000	$	7,865,627
Banks 13.11%
ABN AMRO Bank NV (Netherlands)†(b)	3.324%  (5 yr. CMT + 1.90%	)#	3/13/2037		5,400,000		4,132,346
Bank of America Corp.	1.658%  (SOFR + 0.91%	)#	3/11/2027		4,792,000		4,330,396
Bank of America Corp.	2.087%  (SOFR + 1.06%	)#	6/14/2029		9,122,000		7,818,451
Bank of America Corp.	2.687%  (SOFR + 1.32%	)#	4/22/2032		13,034,000		10,779,971
Bank of America Corp.	3.458%  (3 mo. USD Term SOFR + 1.23%	)#	3/15/2025		7,498,000		7,354,964
Bank of America Corp.	3.593%  (3 mo. USD Term SOFR + 1.63%	)#	7/21/2028		10,476,000		9,773,976
Bank of America Corp.	3.97%  (3 mo. USD Term SOFR + 1.33%	)#	3/5/2029		5,597,000		5,284,533
Bank of America Corp.	4.00%		1/22/2025		2,367,000		2,313,294
Bank of New York Mellon Corp.	4.967%  (SOFR + 1.61%	)#	4/26/2034		5,472,000		5,443,743
BankUnited, Inc.	5.125%		6/11/2030		6,768,000		4,816,474
BNG Bank NV (Netherlands)†(b)	3.50%		5/19/2028		21,684,000		21,167,162
BNP Paribas SA (France)†(b)	4.375%  (5 yr. USD Swap + 1.48%	)#	3/1/2033		9,174,000		8,395,263
Citigroup, Inc.	3.887%  (3 mo. USD Term SOFR + 1.82%	)#	1/10/2028		13,692,000		13,041,399
Citigroup, Inc.	3.98%  (3 mo. USD Term SOFR + 1.60%	)#	3/20/2030		26,656,000		24,736,503
Citigroup, Inc.	4.14%  (SOFR + 1.37%	)#	5/24/2025		3,361,000		3,308,027
Citizens Bank NA	4.119%  (SOFR + 1.40%	)#	5/23/2025		2,298,000		2,150,339
Citizens Bank NA	6.064%  (SOFR + 1.45%	)#	10/24/2025		2,405,000		2,258,598
Danske Bank AS (Denmark)†(b)	3.773%  (1 yr. CMT + 1.45%	)#	3/28/2025		16,133,000		15,758,214
Danske Bank AS (Denmark)†(b)	4.375%		6/12/2028		200,000		187,891
First-Citizens Bank & Trust Co.	2.969%  (3 mo. USD Term SOFR + 1.72%	)#	9/27/2025		6,617,000		6,190,355
Goldman Sachs Group, Inc.	2.383%  (SOFR + 1.25%	)#	7/21/2032		9,100,000		7,333,847

See Notes to Financial Statements. 289

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
HSBC Holdings PLC (United Kingdom)(b)	3.803%  (3 mo. USD LIBOR + 1.21%	)#	3/11/2025	$	6,281,000	$	6,165,273
JPMorgan Chase & Co.	2.963%  (SOFR + 1.26%	)#	1/25/2033		10,975,000		9,294,346
JPMorgan Chase & Co.	3.54%  (3 mo. USD Term SOFR + 1.64%	)#	5/1/2028		14,941,000		14,115,393
JPMorgan Chase & Co.	3.782%  (3 mo. USD Term SOFR + 1.60%	)#	2/1/2028		11,047,000		10,513,939
Lloyds Banking Group PLC (United Kingdom)(b)	3.90%		3/12/2024		7,879,000		7,754,867
M&T Bank Corp.	5.053%  (SOFR + 1.85%	)#	1/27/2034		8,928,000		8,245,492
Macquarie Bank Ltd. (Australia)†(b)	3.624%		6/3/2030		2,821,000		2,382,651
Macquarie Group Ltd. (Australia)†(b)	2.691%  (SOFR + 1.44%	)#	6/23/2032		11,002,000		8,785,333
Macquarie Group Ltd. (Australia)†(b)	4.654%  (3 mo. USD LIBOR + 1.73%	)#	3/27/2029		9,640,000		9,263,590
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	5.541%  (1 yr. CMT + 1.50%	)#	4/17/2026		3,928,000		3,923,286
Morgan Stanley	2.239%  (SOFR + 1.18%	)#	7/21/2032		16,565,000		13,227,909
Morgan Stanley	2.484%  (SOFR + 1.36%	)#	9/16/2036		6,328,000		4,781,404
Morgan Stanley	4.431%  (3 mo. USD Term SOFR + 1.63%	)#	1/23/2030		23,303,000		22,390,060
Morgan Stanley	5.05%  (SOFR + 1.30%	)#	1/28/2027		4,719,000		4,706,303
Royal Bank of Canada (Canada)(b)	6.00%		11/1/2027		7,909,000		8,199,322
State Street Corp.	4.164%  (SOFR + 1.73%	)#	8/4/2033		5,502,000		5,119,380
Toronto-Dominion Bank (Canada)(b)	4.456%		6/8/2032		5,557,000		5,258,425
U.S. Bancorp	4.839%  (SOFR + 1.60%	)#	2/1/2034		8,230,000		7,726,653
U.S. Bancorp	4.967%  (SOFR + 2.11%	)#	7/22/2033		12,314,000		11,163,685
UBS AG (Switzerland)(b)	5.125%		5/15/2024		9,363,000		9,225,738
UBS Group AG (Switzerland)†(b)	1.364%  (1 yr. CMT + 1.08%	)#	1/30/2027		5,819,000		5,123,724
UBS Group AG (Switzerland)†(b)	1.494%  (1 yr. CMT + 0.85%	)#	8/10/2027		6,783,000		5,852,172
UBS Group AG (Switzerland)†(b)	4.703%  (1 yr. CMT + 2.05%	)#	8/5/2027		4,487,000		4,315,427

290 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
UBS Group AG (Switzerland)†(b)	5.711%  (1 yr. CMT + 1.55%	)#	1/12/2027	$	7,074,000	$	7,018,578
Wells Fargo & Co.	2.188%  (SOFR + 2.00%	)#	4/30/2026		7,724,000		7,270,799
Wells Fargo & Co.	2.393%  (SOFR + 2.10%	)#	6/2/2028		20,155,000		18,034,217
Wells Fargo & Co.	3.35%  (SOFR + 1.50%	)#	3/2/2033		8,054,000		6,923,767
Wells Fargo & Co.	3.584%  (3 mo. USD Term SOFR + 1.57%	)#	5/22/2028		10,914,000		10,247,124
Wells Fargo & Co.	5.389% (SOFR + 2.02%	)#	4/24/2034		5,516,000		5,526,545
Total							409,131,148
Biotechnology 0.06%
Baxalta, Inc.	4.00%		6/23/2025		2,070,000		2,022,248
Building Materials 0.29%
Griffon Corp.	5.75%		3/1/2028		3,355,000		3,098,159
Smyrna Ready Mix Concrete LLC†	6.00%		11/1/2028		3,380,000		3,148,186
Standard Industries, Inc.†	4.375%		7/15/2030		3,523,000		2,978,348
Total							9,224,693
Chemicals 0.56%
CVR Partners LP/CVR Nitrogen Finance Corp.†	6.125%		6/15/2028		3,972,000		3,450,984
International Flavors & Fragrances, Inc.†	1.23%		10/1/2025		12,233,000		10,916,560
Rain CII Carbon LLC/CII Carbon Corp.†	7.25%		4/1/2025		3,227,000		3,131,963
Total							17,499,507
Coal 0.10%
SunCoke Energy, Inc.†	4.875%		6/30/2029		3,791,000		3,125,323
Commercial Services 0.75%
Adani Ports & Special Economic Zone Ltd. (India)(b)	4.00%		7/30/2027		3,580,000		3,093,102
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl (Luxembourg)†(b)	4.625%		6/1/2028		3,637,000		2,984,979
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.†	4.75%		4/1/2028		3,508,000		3,131,697
Garda World Security Corp. (Canada)†(b)	7.75%		2/15/2028		3,106,000		3,118,533
Global Payments, Inc.	4.00%		6/1/2023		10,971,000		10,971,000
Total							23,299,311

See Notes to Financial Statements. 291

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Computers 0.46%
International Business Machines Corp.(a)	1.50%		5/23/2029	EUR	5,649,000	$	5,410,243
International Business Machines Corp.(a)	3.75%		2/6/2035	EUR	4,656,000		4,878,473
Leidos, Inc.	5.75%		3/15/2033	$	4,202,000		4,175,279
Total							14,463,995
Cosmetics/Personal Care 0.11%
Haleon U.S. Capital LLC	3.625%		3/24/2032		3,778,000		3,393,245
Diversified Financial Services 1.85%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.875%		1/16/2024		2,348,000		2,328,115
Aircastle Ltd.†	2.85%		1/26/2028		6,919,000		5,921,819
American Express Co.	4.42% (SOFR + 1.76%	)#	8/3/2033		6,231,000		5,895,276
Aviation Capital Group LLC†	1.95%		1/30/2026		4,918,000		4,395,465
Aviation Capital Group LLC†	5.50%		12/15/2024		11,453,000		11,238,034
Avolon Holdings Funding Ltd. (Ireland)†(b)	2.125%		2/21/2026		11,378,000		10,015,498
Avolon Holdings Funding Ltd. (Ireland)†(b)	4.25%		4/15/2026		5,671,000		5,253,842
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.50%		3/15/2027		3,127,000		2,980,434
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.†	4.875%		4/15/2045		4,780,000		3,868,682
OneMain Finance Corp.	5.375%		11/15/2029		3,471,000		2,841,743
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Malta)†(b)	7.875%		5/1/2027		3,396,000		3,068,388
Total							57,807,296
Electric 4.28%
Abu Dhabi National Energy Co. PJSC (United Arab Emirates)(b)	4.696%		4/24/2033		7,815,000		7,818,665
AEP Texas, Inc.	5.40%		6/1/2033		3,798,000		3,806,997
AES Corp.†	3.95%		7/15/2030		6,812,000		6,114,747
Alfa Desarrollo SpA (Chile)†(b)	4.55%		9/27/2051		5,749,514		4,164,114
Ausgrid Finance Pty. Ltd. (Australia)†(b)	4.35%		8/1/2028		6,077,000		5,804,824
Calpine Corp.†	5.125%		3/15/2028		3,474,000		3,115,988
CenterPoint Energy Houston Electric LLC	4.95%		4/1/2033		3,826,000		3,844,019
Constellation Energy Generation LLC	6.25%		10/1/2039		5,767,000		5,992,663
Duke Energy Corp.	4.50%		8/15/2032		11,256,000		10,646,607
Duke Energy Indiana LLC	5.40%		4/1/2053		3,668,000		3,648,345
Electricite de France SA†	6.25%		5/23/2033		9,711,000		9,844,772
Enel Finance International NV(a)	0.50%		6/17/2030	EUR	9,430,000		7,999,384

292 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Electric (continued)
Eskom Holdings SOC Ltd. (South Africa)(b)	6.35%		8/10/2028	$	3,260,000	$	2,954,766
Indiana Michigan Power Co.	5.625%		4/1/2053		3,692,000		3,778,344
Indianapolis Power & Light Co.†	5.65%		12/1/2032		9,456,000		9,766,440
Minejesa Capital BV (Netherlands)†(b)	4.625%		8/10/2030		7,792,000		6,999,779
NRG Energy, Inc.†	4.45%		6/15/2029		3,410,000		3,050,597
Oklahoma Gas & Electric Co.	5.40%		1/15/2033		4,089,000		4,185,592
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia)†(b)	3.00%		6/30/2030		8,195,000		7,033,188
Southern Co.	4.475%	(c)	8/1/2024		13,655,000		13,457,789
Vistra Operations Co. LLC†	3.55%		7/15/2024		9,911,000		9,594,731
Total							133,622,351
Electronics 0.26%
Honeywell International, Inc.(a)	4.125%		11/2/2034	EUR	7,421,000		8,065,627
Engineering & Construction 0.15%
Weekley Homes LLC/Weekley Finance Corp.†	4.875%		9/15/2028	$	5,381,000		4,725,137
Entertainment 0.55%
Cinemark USA, Inc.†	5.875%		3/15/2026		3,245,000		3,087,877
Jacobs Entertainment, Inc.†	6.75%		2/15/2029		3,610,000		3,173,027
Warnermedia Holdings, Inc.	3.428%		3/15/2024		11,093,000		10,862,571
Total							17,123,475
Food 0.11%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC†	3.50%		3/15/2029		3,949,000		3,440,342
Gas 0.68%
CenterPoint Energy Resources Corp.	4.40%		7/1/2032		7,179,000		6,911,218
National Fuel Gas Co.	5.50%		1/15/2026		7,186,000		7,137,746
ONE Gas, Inc.	1.10%		3/11/2024		3,029,000		2,926,582
Southwest Gas Corp.	4.05%		3/15/2032		4,810,000		4,340,011
Total							21,315,557
Health Care-Products 0.65%
GE HealthCare Technologies, Inc.†	5.65%		11/15/2027		11,685,000		11,927,879
Revvity, Inc.	0.85%		9/15/2024		8,876,000		8,364,401
Total							20,292,280
Health Care-Services 1.96%
Catalent Pharma Solutions, Inc.†	5.00%		7/15/2027		3,395,000		3,091,178
Centene Corp.	3.375%		2/15/2030		19,444,000		16,782,894

See Notes to Financial Statements. 293

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Health Care-Services (continued)
Centene Corp.	4.25%	12/15/2027	$	4,989,000	$	4,693,052
Elevance Health, Inc.	2.25%	5/15/2030		2,498,000		2,111,152
Elevance Health, Inc.	5.125%	2/15/2053		4,117,000		3,950,275
Elevance Health, Inc.	5.50%	10/15/2032		7,051,000		7,292,978
Humana, Inc.	1.35%	2/3/2027		8,740,000		7,675,476
Humana, Inc.	5.875%	3/1/2033		8,936,000		9,390,698
Tenet Healthcare Corp.	6.125%	10/1/2028		3,303,000		3,133,753
Tenet Healthcare Corp.†	6.75%	5/15/2031		3,071,000		3,071,798
Total						61,193,254
Insurance 0.94%
Assurant, Inc.	2.65%	1/15/2032		3,488,000		2,650,022
GA Global Funding Trust†	3.85%	4/11/2025		9,989,000		9,576,912
Metropolitan Life Global Funding I†	4.05%	8/25/2025		2,599,000		2,522,926
Metropolitan Life Global Funding I†	5.15%	3/28/2033		4,836,000		4,828,965
New York Life Global Funding†	4.55%	1/28/2033		9,929,000		9,680,406
Total						29,259,231
Internet 1.47%
Amazon.com, Inc.	4.70%	12/1/2032		22,245,000		22,568,089
Netflix, Inc.	5.875%	11/15/2028		4,150,000		4,305,268
Netflix, Inc.	6.375%	5/15/2029		10,544,000		11,187,627
Prosus NV (Netherlands)†(b)	3.257%	1/19/2027		8,550,000		7,764,245
Total						45,825,229
Iron-Steel 0.09%
U.S. Steel Corp.	6.875%	3/1/2029		2,785,000		2,694,404
Leisure Time 0.38%
Life Time, Inc.†	5.75%	1/15/2026		4,059,000		3,937,256
NCL Corp. Ltd.†	5.875%	2/15/2027		3,278,000		3,125,037
Royal Caribbean Cruises Ltd.†	5.375%	7/15/2027		3,503,000		3,231,577
Royal Caribbean Cruises Ltd.†	8.25%	1/15/2029		1,561,000		1,643,925
Total						11,937,795
Lodging 0.03%
Genting New York LLC/GENNY Capital, Inc.†	3.30%	2/15/2026		1,167,000		1,043,255
Machinery-Diversified 0.52%
Chart Industries, Inc.†	9.50%	1/1/2031		2,951,000		3,089,225
nVent Finance Sarl (Luxembourg)(b)	4.55%	4/15/2028		13,974,000		13,202,828
Total						16,292,053

294 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Media 0.35%
DISH Network Corp.†	11.75%	11/15/2027	$	2,867,000	$	2,747,221
FactSet Research Systems, Inc.	3.45%	3/1/2032		9,354,000		8,042,664
Total						10,789,885
Mining 0.72%
Corp. Nacional del Cobre de Chile (Chile)†(b)	5.125%	2/2/2033		6,150,000		6,125,327
FMG Resources August 2006 Pty. Ltd. (Australia)†(b)	4.375%	4/1/2031		5,290,000		4,475,572
Freeport Indonesia PT (Indonesia)(b)	5.315%	4/14/2032		6,344,000		5,970,527
Glencore Funding LLC†	4.875%	3/12/2029		5,934,000		5,766,385
Total						22,337,811
Oil & Gas 3.00%
California Resources Corp.†	7.125%	2/1/2026		2,119,000		2,152,692
Callon Petroleum Co.†	8.00%	8/1/2028		3,955,000		3,872,151
Comstock Resources, Inc.†	6.75%	3/1/2029		3,889,000		3,403,672
Continental Resources, Inc.†	5.75%	1/15/2031		19,772,000		18,851,055
Diamondback Energy, Inc.	3.125%	3/24/2031		11,675,000		9,958,866
Earthstone Energy Holdings LLC†	8.00%	4/15/2027		4,578,000		4,460,643
EQT Corp.	7.00%	2/1/2030		15,389,000		15,943,773
Occidental Petroleum Corp.	6.125%	1/1/2031		1,650,000		1,678,479
Occidental Petroleum Corp.	6.625%	9/1/2030		10,419,000		10,871,289
OGX Austria GmbH (Brazil)†(b)(d)	8.50%	6/1/2018		1,730,000		35
Ovintiv, Inc.	6.50%	2/1/2038		6,037,000		5,985,930
PBF Holding Co. LLC/PBF Finance Corp.	6.00%	2/15/2028		3,425,000		3,190,216
Petroleos Mexicanos (Mexico)(b)	6.70%	2/16/2032		11,050,000		8,289,757
Thaioil Treasury Center Co. Ltd. (Thailand)†(b)	2.50%	6/18/2030		1,718,000		1,412,396
Vital Energy, Inc.	9.50%	1/15/2025		3,449,000		3,415,089
Total						93,486,043
Packaging & Containers 0.20%
Mauser Packaging Solutions Holding Co.†	7.875%	8/15/2026		3,095,000		3,070,950
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.†	4.375%	10/15/2028		3,606,000		3,142,647
Total						6,213,597
Pharmaceuticals 2.02%
Bayer Corp.†	6.65%	2/15/2028		3,872,000		4,102,420
BellRing Brands, Inc.†	7.00%	3/15/2030		3,016,000		3,060,561
Cigna Group	2.40%	3/15/2030		15,529,000		13,232,992
CVS Health Corp.	1.75%	8/21/2030		6,300,000		5,067,958
CVS Health Corp.	3.25%	8/15/2029		21,067,000		19,062,078

See Notes to Financial Statements. 295

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Pharmaceuticals (continued)
CVS Health Corp.	5.05%		3/25/2048	$	5,639,000	$	5,098,120
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)	4.75%		5/19/2033		13,481,000		13,541,489
Total							63,165,618
Pipelines 1.84%
Buckeye Partners LP	9.293% (3 mo. USD LIBOR + 4.02%	)#	1/22/2078		3,812,000		3,266,554
Cheniere Energy Partners LP	3.25%		1/31/2032		4,113,000		3,369,776
CNX Midstream Partners LP†	4.75%		4/15/2030		3,860,000		3,201,088
Eastern Gas Transmission & Storage, Inc.	3.00%		11/15/2029		4,956,000		4,405,921
EIG Pearl Holdings Sarl (Luxembourg)†(b)	3.545%		8/31/2036		8,400,000		7,161,638
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates)†(b)	3.25%		9/30/2040		9,000,000		7,054,290
Kinder Morgan Energy Partners LP	4.25%		9/1/2024		7,507,000		7,331,745
NGPL PipeCo LLC†	3.25%		7/15/2031		3,129,000		2,588,757
Sabine Pass Liquefaction LLC	5.625%		3/1/2025		8,107,000		8,107,072
TMS Issuer Sarl (Luxembourg)†(b)	5.78%		8/23/2032		7,362,000		7,677,683
Venture Global LNG, Inc.†	8.375%		6/1/2031		3,111,000		3,130,381
Total							57,294,905
REITS 1.32%
American Tower Corp.	2.40%		3/15/2025		5,260,000		4,989,542
American Tower Corp.	2.95%		1/15/2025		2,739,000		2,632,314
American Tower Corp.	3.80%		8/15/2029		5,139,000		4,743,749
American Tower Corp.	5.55%		7/15/2033		3,813,000		3,839,683
Crown Castle, Inc.	2.10%		4/1/2031		5,073,000		4,090,742
Crown Castle, Inc.	3.30%		7/1/2030		9,417,000		8,324,879
EPR Properties	4.95%		4/15/2028		4,652,000		4,034,690
Trust Fibra Uno (Mexico)†(b)	4.869%		1/15/2030		3,600,000		3,036,889
VICI Properties LP/VICI Note Co., Inc.†	5.625%		5/1/2024		5,519,000		5,487,149
Total							41,179,637
Retail 0.29%
Evergreen Acqco 1 LP/TVI, Inc.†	9.75%		4/26/2028		3,095,000		3,099,813
Macy’s Retail Holdings LLC†	5.875%		4/1/2029		3,218,000		2,848,855
SRS Distribution, Inc.†	4.625%		7/1/2028		3,532,000		3,121,035
Total							9,069,703
Semiconductors 0.14%
Broadcom, Inc.†	4.15%		4/15/2032		4,997,000		4,500,674

296 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Software 0.70%
Cloud Software Group, Inc.†	6.50%		3/31/2029	$	3,433,000	$	3,039,363
Oracle Corp.	2.875%		3/25/2031		10,577,000		8,997,075
Oracle Corp.	6.25%		11/9/2032		3,196,000		3,381,829
Workday, Inc.	3.80%		4/1/2032		7,018,000		6,331,380
Total							21,749,647
Telecommunications 1.33%
AT&T, Inc.	4.30%		2/15/2030		5,326,000		5,100,024
Frontier Communications Holdings LLC†	5.00%		5/1/2028		5,502,000		4,613,126
Sprint Capital Corp.	6.875%		11/15/2028		5,781,000		6,185,473
Sprint Capital Corp.	8.75%		3/15/2032		6,302,000		7,662,078
T-Mobile USA, Inc.	3.50%		4/15/2025		4,634,000		4,494,868
T-Mobile USA, Inc.	3.875%		4/15/2030		14,614,000		13,563,773
Total							41,619,342
Trucking & Leasing 0.20%
Fortress Transportation & Infrastructure Investors LLC†	5.50%		5/1/2028		6,816,000		6,126,611
Total Corporate Bonds (cost $1,456,596,360)							1,374,102,748
FLOATING RATE LOANS(e) 0.77%
Entertainment 0.11%
Stars Group Holdings BV 2018 USD Incremental Term Loan (Netherlands)(b)	7.409% (3 mo. USD LIBOR + 2.25%	)	7/21/2026		3,398,637		3,389,563
Financial 0.03%
LPL Holdings, Inc. 2019 Term Loan B1	6.843%		11/12/2026		953,126		945,577
Lodging 0.24%
Hilton Domestic Operating Co., Inc. 2019 Term Loan B2	6.95% (1 mo. USD Term SOFR + 1.75%	)	6/22/2026		7,750,000		7,719,233
Media 0.39%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% – 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%	) )	4/30/2025		7,628,602		7,622,117

See Notes to Financial Statements. 297

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Media (continued)
Charter Communications Operating, LLC 2019 Term Loan B2	6.795% – 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%	) )	2/1/2027	$	4,588,114	$	4,503,532
Total							12,125,649
Total Floating Rate Loans (cost $24,310,562)							24,180,022
FOREIGN GOVERNMENT OBLIGATIONS(b) 4.04%
Canada 1.15%
Province of Quebec	3.625%		4/13/2028		36,497,000		35,743,426
Costa Rica 0.20%
Costa Rica Government International Bonds†	6.55%		4/3/2034		6,190,000		6,262,733
Japan 0.46%
Japan International Cooperation Agency	4.00%		5/23/2028		14,504,000		14,295,383
Mexico 0.24%
Mexico Government International Bonds	4.875%		5/19/2033		7,890,000		7,551,131
Panama 0.24%
Panama Government International Bonds	2.252%		9/29/2032		9,666,000		7,446,972
Saudi Arabia 0.14%
Saudi Government International Bonds†	4.875%		7/18/2033		4,391,000		4,431,226
Senegal 0.09%
Senegal Government International Bonds†	6.25%		5/23/2033		3,380,000		2,704,473
South Africa 0.09%
Republic of South Africa Government International Bonds	5.875%		4/20/2032		3,320,000		2,862,205
Sri Lanka 0.05%
Sri Lanka Government International Bonds†(d)	5.875%		7/25/2022		4,250,000		1,721,223
Sweden 1.38%
Kommuninvest I Sverige AB†	4.25%		12/10/2025		17,555,000		17,492,920
Svensk Exportkredit AB	4.00%		7/15/2025		25,883,000		25,611,607
Total							43,104,527
Total Foreign Government Obligations (cost $129,813,990)							126,123,299

298 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES COLLATERALIZED MORTGAGE OBLIGATIONS 0.74%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 001 Class XA	2.112%	#(f)	2/25/2032	$	15,082,773	$	1,133,800
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series 145 Class A2	2.58%		5/25/2032		11,436,000		9,947,016
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series G07 Class A2	3.123%	#(f)	8/25/2032		13,216,000		11,988,915
Total Government Sponsored Enterprises Collateralized Mortgage Obligations (cost $22,928,627)							23,069,731
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS 27.23%
Federal Home Loan Bank	5.08% (SOFR + 2.00%	)#	9/19/2023		39,755,000		39,784,592
Federal Home Loan Mortgage Corp.	2.50%		11/1/2050 – 5/1/2052		20,692,074		17,863,697
Federal Home Loan Mortgage Corp.	3.50%		2/1/2046		5,844,114		5,496,771
Federal Home Loan Mortgage Corp.	4.50%		8/1/2052		14,858,897		14,580,503
Federal Home Loan Mortgage Corp.	5.00%		7/1/2052 – 8/1/2052		31,535,824		31,375,601
Federal National Mortgage Association	2.00%		6/1/2051 – 11/1/2051		24,620,443		20,350,581
Federal National Mortgage Association	2.50%		8/1/2050 – 5/1/2052		162,953,725		141,301,496
Federal National Mortgage Association	3.00%		12/1/2048 – 1/1/2051		30,583,726		27,707,139
Federal National Mortgage Association	3.50%		7/1/2045 – 4/1/2052		21,660,705		20,155,519
Federal National Mortgage Association	4.00%		5/1/2052 – 6/1/2052		25,332,922		24,205,471
Federal National Mortgage Association	5.00%		7/1/2052 – 8/1/2052		22,511,973		22,427,040
Government National Mortgage Association(g)	3.00%		TBA		49,582,000		44,673,189
Government National Mortgage Association(g)	3.50%		TBA		9,275,000		8,612,345
Government National Mortgage Association(g)	4.00%		TBA		30,398,000		28,918,472
Government National Mortgage Association(g)	4.50%		TBA		38,619,000		37,544,155
Government National Mortgage Association(g)	5.00%		TBA		73,103,000		72,194,432
Government National Mortgage Association(g)	5.50%		TBA		65,712,000		65,665,797
Government National Mortgage Association(g)	6.00%		TBA		53,164,000		53,649,952
Government National Mortgage Association(g)	6.50%		TBA		39,758,000		40,425,810
Uniform Mortgage-Backed Security(g)	2.00%		TBA		18,036,000		14,855,266

See Notes to Financial Statements. 299

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS (continued)
Uniform Mortgage-Backed Security(g)	4.00%		TBA	$	17,930,000	$	16,952,255
Uniform Mortgage-Backed Security(g)	5.00%		TBA		18,089,000		18,043,071
Uniform Mortgage-Backed Security(g)	5.50%		TBA		50,534,000		50,652,386
Uniform Mortgage-Backed Security(g)	6.00%		TBA		18,029,000		18,238,869
Uniform Mortgage-Backed Security(g)	6.50%		TBA		13,665,000		13,979,936
Total Government Sponsored Enterprises Pass-Throughs (cost $864,425,396)							849,654,345
MUNICIPAL BONDS 0.26%
Government 0.10%
New York City Transitional Finance Authority Future Tax Secured Revenue	1.95%		8/1/2034		4,200,000		3,170,084
Natural Gas 0.16%
Texas Natural Gas Securitization Finance Corp.	5.102%		4/1/2035		4,692,000		4,814,446
Total Municipal Bonds (cost $8,910,470)							7,984,530
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 9.07%
Angel Oak Mortgage Trust Series 2020-1 Class A1†	2.466%	#(f)	12/25/2059		404,066		379,491
Angel Oak Mortgage Trust Series 2021-3 Class A1†	1.068%	#(f)	5/25/2066		4,616,176		3,823,974
Angel Oak Mortgage Trust Series 2022-3 Class A1†	4.00%		1/25/2067		6,598,777		6,187,674
Bank Series 2021-BN35 Class A5	2.285%		6/15/2064		3,126,000		2,543,689
BBCMS Mortgage Trust Series 2019-BWAY Class A†	6.13% (1 mo. USD Term SOFR + 1.07%	)#	11/15/2034		4,168,000		3,436,069
BBCMS Mortgage Trust Series 2019-BWAY Class B†	6.484% (1 mo. USD Term SOFR + 1.42%	)#	11/15/2034		1,832,000		1,471,987
BHMS Mortgage Trust Series 2018-ATLS Class A†	6.357% (1 mo. USD LIBOR + 1.25%	)#	7/15/2035		6,580,000		6,402,857
BHMS Mortgage Trust Series 2018-ATLS Class C†	7.007% (1 mo. USD LIBOR + 1.90%	)#	7/15/2035		3,965,000		3,771,685
BMO Mortgage Trust Series 2023-C5 Class A4(h)	5.494%		6/15/2056		5,881,000		6,011,246
BRAVO Residential Funding Trust Series 2021-NQM2 Class A1†	0.97%	#(f)	3/25/2060		8,445,609		7,882,669
BX Commercial Mortgage Trust Series 2021-XL2 Class A†	5.796% (1 mo. USD LIBOR + 0.69%	)#	10/15/2038		2,939,540		2,843,923
BX Trust Series 2021-ARIA Class E†	7.352% (1 mo. USD LIBOR + 2.24%	)#	10/15/2036		11,205,000		10,561,167

300 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date		Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
BX Trust Series 2021-LBA Class AJV†	5.975% (1 mo. USD Term SOFR + 0.91%	)#	2/15/2036		$	2,464,000	$	2,385,137
CF Trust Series 2019-BOSS Class A1†	8.357% (1 mo. USD LIBOR + 3.25%	)#	12/15/2024			4,660,000		4,393,855
CIM Trust Series 2021-J3 Class A1†	2.50%	#(f)	6/25/2051			10,889,311		8,872,974
Citigroup Commercial Mortgage Trust Series 2014-GC25 Class XB	0.157%	#(f)	10/10/2047			50,626,000		131,405
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class D†	2.85%		2/10/2049			5,370,000		2,045,767
COMM Mortgage Trust Series 2014-CR17 Class AM	4.174%		5/10/2047			7,400,000		7,163,156
COMM Mortgage Trust Series 2015-LC21 Class AM	4.043%	#(f)	7/10/2048			6,234,000		5,858,039
Commercial Mortgage Pass-Through Certificates Series 2014-CR19 Class XA	0.927%	#(f)	8/10/2047			3,144,782		23,149
Commercial Mortgage Pass-Through Certificates Series 2014-UBS4 Class D†	4.712%	#(f)	8/10/2047			12,450,000		8,803,337
Commercial Mortgage Pass-Through Certificates Series 2015-DC1 Class D†	4.295%	#(f)	2/10/2048			4,293,000		3,136,455
Credit Suisse Mortgage Capital Certificates Series 2020-SPT1 Class A1†	1.616%	(c)	4/25/2065			517,240		508,094
CS Master Trust Series 2021-AHP Class A†	9.115% (1 mo. USD Term SOFR + 4.06%	)#	4/15/2025			5,700,000		5,688,782
CS Master Trust Series 2021-BLUF Class A†	9.276% (1 mo. USD LIBOR + 4.18%	)#	4/15/2023	(i)		3,300,000		3,149,082	(j)
CSMC Trust Series 2020-AFC1 Class A1†	2.24%	#(f)	2/25/2050			1,196,019		1,113,488
Deephaven Residential Mortgage Trust Series 2021-3 Class A1†	1.194%	#(f)	8/25/2066			1,970,002		1,681,990
EQUS Mortgage Trust Series 2021-EQAZ Class A†	5.862% (1 mo. USD LIBOR + 0.75%	)#	10/15/2038			3,241,935		3,140,516
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2022-HQA2 Class M1A†	7.623% (30 day USD SOFR Average + 2.65%	)#	7/25/2042			6,132,539		6,227,977
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-DNA2 Class M1A†	7.081% (30 day USD SOFR Average + 2.10%	)#	4/25/2043			7,404,937		7,445,125
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R02 Class 1M2†	8.323% (30 day USD SOFR Average + 3.35%	)#	1/25/2043			6,575,000		6,664,253

See Notes to Financial Statements. 301

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01 Class 1M2†	6.523% (30 day USD SOFR Average + 1.55%	)#	10/25/2041	$	7,027,000	$	6,873,150
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R02 Class 1M1†	7.273% (30 day USD SOFR Average + 2.30%	)#	1/25/2043		5,946,557		5,988,722
Flagstar Mortgage Trust Series 2021-3INV Class A2†	2.50%	#(f)	6/25/2051		7,968,253		6,492,798
Flagstar Mortgage Trust Series 2021-7 Class A1†	2.50%	#(f)	8/25/2051		6,871,923		5,599,472
Freddie Mac STACR REMIC Trust Series 2021-DNA3 Class M2†	7.073% (30 day USD SOFR Average + 2.10%	)#	10/25/2033		7,725,000		7,586,619
Freddie Mac STACR REMIC Trust Series 2021-DNA6 Class M2†	6.473% (30 day USD SOFR Average + 1.50%	)#	10/25/2041		6,110,000		5,941,196
Freddie Mac STACR REMIC Trust Series 2021-DNA7 Class M2†	6.773% (30 day USD SOFR Average + 1.80%	)#	11/25/2041		6,260,000		6,009,339
Freddie Mac STACR REMIC Trust Series 2022-DNA4 Class M1B†	8.323% (30 day USD SOFR Average + 3.35%	)#	5/25/2042		5,655,000		5,718,447
GCAT Trust Series 2023-NQM1 Class A1†	4.25%	#(f)	10/25/2057		11,973,414		11,163,331
Great Wolf Trust Series 2019-WOLF Class A†	6.208% (1 mo. USD Term SOFR + 1.15%	)#	12/15/2036		4,660,000		4,600,752
GS Mortgage Securities Corp. Trust Series 2018-RIVR Class A†	6.057% (1 mo. USD LIBOR + 0.95%	)#	7/15/2035		4,372,469		3,995,482
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class G†	9.758% (1 mo. USD LIBOR + 4.65%	)#	5/15/2026		7,288,000		5,743,367
GS Mortgage Securities Corp. Trust Series 2022-ECI Class A†	7.254% (1 mo. USD Term SOFR + 2.19%	)#	8/15/2039		4,290,000		4,289,815
GS Mortgage Securities Trust Series 2014-GC26 Class C	4.514%	#(f)	11/10/2047		135,000		108,686	(j)
GS Mortgage Securities Trust Series 2021-PJ2 Class A2†	2.50%	#(f)	7/25/2051		5,761,570		4,709,066
GS Mortgage Securities Trust Series 2021-PJ8 Class A2†	2.50%	#(f)	1/25/2052		7,945,988		6,474,655
GS Mortgage Securities Trust Series 2023-PJ1 Class A4†	3.50%	#(f)	2/25/2053		6,089,151		5,339,789

302 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Hudsons Bay Simon JV Trust Series 2015-HB10 Class XB10†	0.541%	#(f)	8/5/2034	$	19,156,000	$	2,286
Hudsons Bay Simon JV Trust Series 2015-HB7 Class XB7†	0.493%	#(f)	8/5/2034		22,024,000		2,594
JP Morgan Chase Commercial Mortgage Securities Trust Series 2018-MINN Class A†	6.377% (1 mo. USD LIBOR + 1.27%	)#	11/15/2035		3,436,000		3,314,087
JP Morgan Mortgage Trust Series 2021-13 Class A3†	2.50%	#(f)	4/25/2052		6,111,924		4,980,199
JP Morgan Mortgage Trust Series 2021-INV8 Class A2†	3.00%	#(f)	5/25/2052		5,715,551		4,856,932
KIND Trust Series 2021-KIND Class D†	7.474% (1 mo. USD Term SOFR + 2.41%	)#	8/15/2038		3,256,464		2,948,269
New Residential Mortgage Loan Trust Series 2020-NQM1 Class A1†	2.464%	#(f)	1/26/2060		450,543		412,932
Ready Capital Mortgage Financing LLC Series 2021-FL6 Class C†	7.038% (1 mo. USD LIBOR + 1.90%	)#	7/25/2036		6,320,000		6,055,421
Ready Capital Mortgage Financing LLC Series 2022-FL8 Class A†	6.631% (30 day USD SOFR Average + 1.65%	)#	1/25/2037		12,133,266		11,944,970
Residential Mortgage Loan Trust Series 2020-1 Class A1†	2.376%	#(f)	1/26/2060		237,186		224,723
Starwood Mortgage Residential Trust Series 2020-1 Class A1†	2.275%	#(f)	2/25/2050		90,633		86,044
Starwood Mortgage Residential Trust Series 2020-3 Class A1†	1.486%	#(f)	4/25/2065		2,461,151		2,279,212
Verus Securitization Trust Series 2020-1 Class A1†	2.417%	(c)	1/25/2060		737,764		694,460
Verus Securitization Trust Series 2020-5 Class A1†	1.218%	(c)	5/25/2065		3,292,273		2,994,241
Verus Securitization Trust Series 2021-2 Class A1†	1.031%	#(f)	2/25/2066		5,886,347		5,054,092
Vista Point Securitization Trust Series 2020-2 Class A1†	1.475%	#(f)	4/25/2065		1,760,539		1,568,966
Wells Fargo Commercial Mortgage Trust Series 2013-LC12 Class D†	4.254%	#(f)	7/15/2046		3,865,000		1,334,810	(j)
Wells Fargo Mortgage Backed Securities Trust Series 2021-INV2 Class A2†	2.50%	#(f)	9/25/2051		4,489,230		3,669,153
WFRBS Commercial Mortgage Trust Series 2014-C23 Class XA	0.549%	#(f)	10/15/2057		51,371,119		254,677
Total Non-Agency Commercial Mortgage-Backed Securities (cost $300,440,892)							283,061,766

See Notes to Financial Statements. 303

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
U.S. TREASURY OBLIGATIONS 9.56%
U.S. Treasury Bonds	2.25%	5/15/2041	$	13,990,000	$	10,829,954
U.S. Treasury Bonds	3.625%	5/15/2053		63,421,000		61,037,758
U.S. Treasury Bonds	3.875%	5/15/2043		49,448,000		48,563,345
U.S. Treasury Inflation-Indexed Bonds(k)	1.50%	2/15/2053		31,604,570		30,668,778
U.S. Treasury Notes	3.375%	5/15/2033		22,362,000		21,885,060
U.S. Treasury Notes	3.50%	4/30/2028		30,735,000		30,346,010
U.S. Treasury Notes	3.875%	3/31/2025		32,972,000		32,593,337
U.S. Treasury Notes	3.875%	4/30/2025		63,080,000		62,397,455
Total U.S. Treasury Obligations (cost $300,372,308)						298,321,697
Total Long-Term Investments (cost $3,561,435,616)						3,424,233,116
SHORT-TERM INVESTMENTS 4.33%
U.S. TREASURY OBLIGATIONS 1.89%
U.S. Treasury Bills	Zero Coupon	6/20/2023		28,450,000		28,373,216
U.S. Treasury Bills	Zero Coupon	11/24/2023		31,244,000		30,449,682
Total U.S. Treasury Obligations (cost $58,831,228)						58,822,898
REPURCHASE AGREEMENTS 2.44%
Repurchase Agreement dated 5/31/2023, 5.080% due 6/1/2023 with Barclays Bank plc collateralized by $50,890,000 of U.S. Treasury Bond at 3.750% due 5/31/2030; value: $50,999,414; proceeds: $50,006,480 (cost $49,999,425)				49,999,425		49,999,425
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $29,501,300 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $26,756,296; proceeds: $26,233,507 (cost $26,231,613)				26,231,613		26,231,613
Total Repurchase Agreements (cost $76,231,038)						76,231,038
Total Short-Term Investments (cost $135,062,266)						135,053,936
Total Investments in Securities 114.06% (cost $3,696,497,882)						3,559,287,052
Other Assets and Liabilities – Net(l) (14.06)%						(438,773,862	)
Net Assets 100.00%					$	3,120,513,190

CAD	Canadian Dollar.
EUR	Euro.
CMT	Constant Maturity Rate.
LIBOR	London Interbank Offered Rate.
REITS	Real Estate Investment Trusts.
SOFR	Secured Overnight Financing Rate.

304 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $1,134,853,168, which represents 36.37% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Investment in non-U.S. dollar denominated securities.
(b)	Foreign security traded in U.S. dollars.
(c)	Step Bond – Security with a predetermined schedule of interest rate changes.
(d)	Defaulted (non-income producing security).
(e)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(f)	Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool.
(g)	To-be-announced (“TBA”). Security purchased on a forward commitment basis with an approximate principal and maturity date. Actual principal and maturity will be determined upon settlement when the specific mortgage pools are assigned.
(h)	Securities purchased on a when-issued basis (See Note 2(j)).
(i)	Maturity date has passed. As of May 31, 2023, an extension is available to June 15, 2024.
(j)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
(k)	Treasury Inflation Protected Security. A U.S. Treasury Note or Bond that offers protection from inflation by paying a fixed rate of interest on principal amount that is adjusted for inflation based on the Consumer Price Index.
(l)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows:

Centrally Cleared Credit Default Swap Contracts on Indexes - Sell Protection at May 31, 2023⁽¹⁾:

Referenced Indexes

Central Clearing Party

Fund Receives (Quarterly)

Termination Date

Notional Amount

Payments Upfront(2)

Unrealized Depreciation(3)

Value

Markit CDX.NA.HY.S40(4)(5)

Goldman Sachs

5.000%

6/20/2028

$61,840,000

$716,605

$(56,973)

$659,632

(1)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap contracts agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap contracts and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap contracts less the recovery value of the referenced obligation or underlying securities.
(2)	Upfront payments paid (received) by Central Clearing Party are presented net of amortization.
(3)	Total unrealized appreciation on Credit Default Swap Contracts on Indexes amounted to $0. Total unrealized depreciation on Credit Default Swap Contracts on Indexes amounted to $56,973.
(4)	Central Clearinghouse: Intercontinental Exchange (ICE).
(5)	The Referenced Index is for the Centrally Cleared Credit Default Swap Contracts on Indexes, which is comprised of a basket of high yield securities.

Forward Foreign Currency Exchange Contracts at May 31, 2023:

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency		U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Appreciation
Canadian dollar	Sell	State Street Bank and Trust	7/20/2023		22,582,000		$16,807,586		$16,654,011		$153,575

See Notes to Financial Statements. 305

Schedule of Investments (unaudited)(continued)

TOTAL RETURN FUND May 31, 2023

Forward Foreign Currency Exchange Contracts	Transaction Type	Counterparty	Expiration Date	Foreign Currency		U.S. $ Cost on Origination Date		U.S. $ Current Value		Unrealized Depreciation
Euro	Buy	Morgan Stanley	6/13/2023		8,396,000	$	9,193,039	$	8,980,077		$	(212,962	)
Euro	Buy	State Street Bank and Trust	6/13/2023		6,336,000		6,846,883		6,776,771			(70,112	)
Euro	Sell	State Street Bank and Trust	6/13/2023		39,400,000		41,918,448		42,140,905			(222,457	)
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts											$	(505,531	)

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. 10-Year Treasury Note	September 2023	690	Long	$	78,754,288		$	78,983,438			$	229,150
U.S. 2-Year Treasury Note	September 2023	1,598	Long		328,381,249			328,913,345				532,096
U.S. Long Bond	September 2023	1,314	Long		167,102,603			168,643,687				1,541,084
U.S. Ultra Treasury Bond	September 2023	1,216	Long		164,006,775			166,440,000				2,433,225
Total Unrealized Appreciation on Futures Contracts											$	4,735,555
Type	Expiration	Contracts	Position	Notional Amount			Notional Value			Unrealized Depreciation
Euro-Bobl	September 2023	89	Short	EUR	(10,399,415	)	EUR	(10,453,940	)		$	(58,282	)
Euro-Bund	September 2023	123	Short		(16,634,469	)		(16,644,360	)			(10,572	)
U.S. 10-Year Ultra Treasury Bond	September 2023	1,479	Short	$	(177,199,186	)	$	(178,150,172	)			(950,986	)
Total Unrealized Depreciation on Futures Contracts											$	(1,019,840	)

306 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

TOTAL RETURN FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2			Level 3		Total
Long-Term Investments
Asset-Backed Securities	$	–		$	437,734,978		$	–	$	437,734,978
Corporate Bonds		–			1,374,102,748			–		1,374,102,748
Floating Rate Loans		–			24,180,022			–		24,180,022
Foreign Government Obligations		–			126,123,299			–		126,123,299
Government Sponsored Enterprises Collateralized Mortgage Obligations		–			23,069,731			–		23,069,731
Government Sponsored Enterprises Pass-Throughs		–			849,654,345			–		849,654,345
Municipal Bonds		–			7,984,530			–		7,984,530
Non-Agency Commercial Mortgage-Backed Securities		–			278,469,188			4,592,578		283,061,766
U.S. Treasury Obligations		–			298,321,697			–		298,321,697
Short-Term Investments
U.S. Treasury Obligations		–			58,822,898			–		58,822,898
Repurchase Agreements		–			76,231,038			–		76,231,038
Total	$	–		$	3,554,694,474		$	4,592,578	$	3,559,287,052
Other Financial Instruments
Centrally Cleared Credit Default Swap Contracts
Assets	$	–		$	659,632		$	–	$	659,632
Liabilities		–			–			–		–
Forward Foreign Currency Exchange Contracts
Assets		–			153,575			–		153,575
Liabilities		–			(505,531	)		–		(505,531	)
Futures Contracts
Assets		4,735,555			–			–		4,735,555
Liabilities		(1,019,840	)		–			–		(1,019,840	)
Total	$	3,715,715		$	307,676		$	–	$	4,023,391

(1)	Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

See Notes to Financial Statements. 307

Schedule of Investments (unaudited)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
LONG-TERM INVESTMENTS 80.87%
ASSET-BACKED SECURITIES 25.31%
Automobiles 12.63%
Ally Auto Receivables Trust Series 2022-3 Class A2	5.29%	6/16/2025	$	23,240,000	$	23,169,013
Arivo Acceptance Auto Loan Receivables Trust Series 2021-1A Class A†	1.19%	1/15/2027		3,381,057		3,282,926
Avis Budget Rental Car Funding AESOP LLC Series 2019-3A Class A†	2.36%	3/20/2026		7,545,000		7,133,850
BMW Vehicle Lease Trust Series 2023-1 Class A2	5.27%	2/25/2025		26,145,000		26,049,579
Capital One Prime Auto Receivables Trust Series 2023-1 Class A2	5.20%	5/15/2026		13,445,000		13,382,192
CarMax Auto Owner Trust Series 2020-2 Class A3	1.70%	11/15/2024		102,070		101,914
CarMax Auto Owner Trust Series 2023-1 Class A2A	5.23%	1/15/2026		17,650,000		17,564,228
Carvana Auto Receivables Trust Series 2020-P1 Class A3	0.44%	6/9/2025		2,491,854		2,477,731
Carvana Auto Receivables Trust Series 2021-N1 Class B	1.09%	1/10/2028		11,573,033		10,843,559
Carvana Auto Receivables Trust Series 2022-P3 Class A2	4.42%	12/10/2025		15,636,980		15,528,516
CPS Auto Receivables Trust Series 2021-D Class A†	0.61%	10/15/2025		2,704,744		2,694,854
CPS Auto Receivables Trust Series 2022-A Class A†	0.98%	4/16/2029		5,412,445		5,365,615
CPS Auto Receivables Trust Series 2022-C Class A†	4.18%	4/15/2030		12,092,214		11,982,625
Donlen Fleet Lease Funding 2 LLC Series 2021-2 Class A2†	0.56%	12/11/2034		33,939,064		32,997,825
Exeter Automobile Receivables Trust Series 2022-4A Class A2	3.99%	8/15/2024		1,847,733		1,846,184
Exeter Automobile Receivables Trust Series 2022-4A Class A3	4.33%	2/17/2026		19,895,000		19,811,027
Exeter Automobile Receivables Trust Series 2022-6A Class A2	5.73%	11/17/2025		6,868,026		6,859,578
First Investors Auto Owner Trust Series 2021-2A Class A†	0.48%	3/15/2027		41,748,008		40,472,143
First Investors Auto Owners Trust Series 2022-2A Class A†	6.26%	7/15/2027		19,806,535		19,846,404

308 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
Flagship Credit Auto Trust Series 2021-2 Class B†	0.93%	6/15/2027	$	10,000,000	$	9,632,052
Flagship Credit Auto Trust Series 2022-2 Class A2†	3.28%	8/15/2025		30,318,504		30,125,059
Flagship Credit Auto Trust Series 2022-3 Class A2†	4.06%	10/15/2025		16,415,799		16,285,005
Flagship Credit Auto Trust Series 2023-1 Class A2†	5.38%	12/15/2026		11,000,000		10,926,142
Ford Credit Auto Lease Trust Series 2023-A Class A2A	5.19%	6/15/2025		8,500,000		8,462,354
Ford Credit Auto Lease Trust Series 2023-A Class A3	4.94%	3/15/2026		48,600,000		48,303,175
Foursight Capital Automobile Receivables Trust Series 2021-2 Class A3†	0.81%	5/15/2026		6,818,438		6,687,734
GLS Auto Receivables Issuer Trust Series 2021-1A Class C†	1.20%	1/15/2027		9,466,304		9,335,073
GLS Auto Receivables Issuer Trust Series 2021-3A Class B†	0.78%	11/17/2025		25,452,850		25,105,968
GLS Auto Receivables Issuer Trust Series 2021-3A Class C†	1.11%	9/15/2026		25,348,000		23,970,004
GLS Auto Receivables Trust Series 2021-2A Class B†	0.77%	9/15/2025		7,106,401		7,061,847
GLS Auto Receivables Trust Series 2021-2A Class C†	1.08%	6/15/2026		21,660,000		20,961,259
GM Financial Automobile Leasing Trust Series 2023-1 Class A2A	5.27%	6/20/2025		8,335,000		8,303,209
GM Financial Consumer Automobile Receivables Trust Series 2023-1 Class A2A	5.19%	3/16/2026		39,385,000		39,233,742
Hertz Vehicle Financing III LLC Series 2022-1A Class A†	1.99%	6/25/2026		12,150,000		11,333,309
Hertz Vehicle Financing LLC Series 2021-1A Class A†	1.21%	12/26/2025		27,730,000		25,894,565
Honda Auto Receivables Owner Trust Series 2022-2 Class A2	3.81%	3/18/2025		56,210,674		55,719,297
Honda Auto Receivables Owner Trust Series 2022-C Class A2A	3.83%	8/15/2025		50,741,196		50,226,315
Hyundai Auto Lease Securitization Trust Series 2023-A Class A2A†	5.20%	4/15/2025		8,900,000		8,862,566
Mercedes-Benz Auto Receivables Trust Series 2023-1 Class A2	5.09%	1/15/2026		7,100,000		7,070,690

See Notes to Financial Statements. 309

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
NextGear Floorplan Master Owner Trust Series 2023-1A Class A1†	5.972% (30 day USD SOFR Average + 1.10%	)#	3/15/2028	$	19,850,000	$	19,878,779
OneMain Direct Auto Receivables Trust Series 2021-1A Class A†	0.87%		7/14/2028		34,360,000		32,303,980
OneMain Direct Auto Receivables Trust Series 2021-1A Class B†	1.26%		7/14/2028		34,347,000		30,954,430
PenFed Auto Receivables Owner Trust Series 2022-A Class A2†	3.83%		12/16/2024		5,024,529		4,994,700
Santander Consumer Auto Receivables Trust Series 2021-AA Class A3†	0.33%		10/15/2025		8,149,897		8,050,851
Santander Drive Auto Receivables Trust Series 2021-2 Class C	0.90%		6/15/2026		10,761,476		10,596,048
Santander Drive Auto Receivables Trust Series 2022-2 Class A3	2.98%		10/15/2026		56,461,285		55,732,178
Santander Drive Auto Receivables Trust Series 2022-3 Class A2	2.76%		3/17/2025		2,321,339		2,318,101
Santander Retail Auto Lease Trust Series 2021-A Class B†	0.92%		3/20/2026		24,305,000		23,443,448
Santander Retail Auto Lease Trust Series 2021-B Class B†	0.84%		6/20/2025		4,900,000		4,700,153
Santander Retail Auto Lease Trust Series 2021-C Class A3†	0.50%		3/20/2025		13,383,722		13,205,356
Santander Retail Auto Lease Trust Series 2021-C Class C†	1.11%		3/20/2026		14,400,000		13,689,297
Santander Retail Auto Lease Trust Series 2022-A Class A2†	0.97%		3/20/2025		13,476,642		13,280,022
Tesla Auto Lease Trust Series 2021-A Class A3†	0.56%		3/20/2025		34,346,798		33,943,227
Tesla Auto Lease Trust Series 2021-A Class B†	1.02%		3/20/2025		22,250,000		21,702,016
Tricolor Auto Securitization Trust Series 2022-1A Class A†	3.30%		2/18/2025		8,946,120		8,873,738
Tricolor Auto Securitization Trust Series 2023-1A Class A†	6.48%		8/17/2026		5,772,973		5,760,104
Volkswagen Auto Lease Trust Series 2022-A Class A3	3.44%		7/21/2025		39,700,000		38,899,136
Westlake Automobile Receivables Trust Series 2021-1A Class C†	0.95%		3/16/2026		87,800,000		85,611,357
Westlake Automobile Receivables Trust Series 2021-2A Class D†	1.23%		12/15/2026		30,025,000		27,869,403
Westlake Automobile Receivables Trust Series 2022-2A Class A2A†	5.87%		7/15/2026		28,300,000		28,250,113

310 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)
ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Automobiles (continued)
World Omni Automobile Lease Securitization Trust Series 2022-A Class A3	3.21%		2/18/2025	$	23,900,000	$	23,412,701
Total							1,192,378,266
Other 12.46%
Affirm Asset Securitization Trust Series 2022-X1 Class A†	1.75%		2/15/2027		16,287,907		15,860,143
Aqua Finance Trust Series 2021-A Class A†	1.54%		7/17/2046		19,739,925		17,589,479
Atalaya Equipment Leasing Trust Series 2021-1A Class A2†	1.23%		5/15/2026		11,583,956		11,316,614
Atrium IX Series 9A Class AR2†	6.453% (3 mo. USD LIBOR + 0.99%	)#	5/28/2030		39,925,422		39,419,634
Avant Loans Funding Trust Series 2021-REV1 Class A†	1.21%		7/15/2030		6,050,000		5,915,968
BDS Ltd. Series 2020-FL5 Class A†	6.332%  (1 mo. USD Term SOFR + 1.26%	)#	2/16/2037		2,657,379		2,629,573
Benefit Street Partners CLO V-B Ltd. Series 2018-5BA Class A1A†	6.34%  (3 mo. USD LIBOR + 1.09%	)#	4/20/2031		15,000,000		14,814,622
BlueMountain Fuji U.S. CLO I Ltd. Series 2017-1A Class A1R†	6.23%  (3 mo. USD LIBOR + 0.98%	)#	7/20/2029		57,185,684		56,411,880
CBAM Ltd. Series 2019-9A Class A†	6.54%  (3 mo. USD LIBOR + 1.28%	)#	2/12/2030		19,522,113		19,382,373
Dell Equipment Finance Trust Series 2021-2 Class A2†	0.33%		12/22/2026		587,891		586,189
Dell Equipment Finance Trust Series 2021-2 Class B†	0.81%		12/22/2026		10,880,000		10,381,540
Dell Equipment Finance Trust Series 2021-2 Class C†	0.94%		12/22/2026		7,370,000		7,033,786
Dell Equipment Finance Trust Series 2021-2 Class D†	1.21%		6/22/2027		6,980,000		6,652,759
Flatiron CLO Ltd. Series 2017-1A Class AR†	6.301%  (3 mo. USD LIBOR + 0.98%	)#	5/15/2030		12,953,227		12,864,567
FS Rialto Series 2021-FL2 Class A†	6.325%  (1 mo. USD LIBOR + 1.22%	)#	5/16/2038		13,660,000		13,247,890
Galaxy XIX CLO Ltd. Series 2015-19A Class A1RR†	6.223%  (3 mo. USD LIBOR + 0.95%	)#	7/24/2030		48,244,221		47,641,518
Galaxy XXIII CLO Ltd. Series 2017-23A Class AR†	6.143%  (3 mo. USD LIBOR + 0.87%	)#	4/24/2029		44,542,888		44,123,497

See Notes to Financial Statements. 311

Schedule of Investments (unaudited)(continued)
ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
GreatAmerica Leasing Receivables Funding LLC Series 2021-2 Class A4†	1.04%		9/15/2027	$	14,000,000	$	12,759,653
HGI CRE CLO Ltd. Series 2021-FL1 Class A†	6.155%  (1 mo. USD LIBOR + 1.05%	)#	6/16/2036		16,985,004		16,608,994
HGI CRE CLO Ltd. Series 2021-FL1 Class B†	6.705%  (1 mo. USD LIBOR + 1.60%	)#	6/16/2036		6,990,000		6,615,764
HPEFS Equipment Trust Series 2023-1A Class A2†	5.43%		8/20/2025		18,725,000		18,646,690
KREF Ltd. Series 2021-FL2 Class A†	6.178%  (1 mo. USD LIBOR + 1.07%	)#	2/15/2039		36,710,000		35,426,537
Lending Funding Trust Series 2020-2A Class A†	2.32%		4/21/2031		21,770,000		19,496,777
LFT CRE Ltd. Series 2021-FL1 Class A†	6.277%  (1 mo. USD LIBOR + 1.17%	)#	6/15/2039		30,570,000		29,932,925
LFT CRE Ltd. Series 2021-FL1 Class B†	6.857%  (1 mo. USD LIBOR + 1.75%	)#	6/15/2039		41,120,000		39,842,392	(a)
LMREC LLC Series 2021-CRE4 Class A†	6.177%  (1 mo. USD LIBOR + 1.05%	)#	4/22/2037		9,309,438		9,120,168
Madison Park Funding XI Ltd. Series 2013-11A Class AR2†	6.173%  (3 mo. USD LIBOR + 0.90%	)#	7/23/2029		56,136,898		55,536,177
Madison Park Funding XVII Ltd. Series 2015-17A Class AR2†	6.261%  (3 mo. USD LIBOR + 1.00%	)#	7/21/2030		48,607,338		48,048,354
Marlette Funding Trust Series 2021-1A Class B†	1.00%		6/16/2031		1,060,013		1,056,156
Marlette Funding Trust Series 2021-2A Class B†	1.06%		9/15/2031		6,608,533		6,489,590
Marlette Funding Trust Series 2021-3A Class B†	1.30%		12/15/2031		38,745,000		37,365,891
MF1 Ltd. Series 2021-FL6 Class A†	6.211%  (1 mo. USD LIBOR + 1.10%	)#	7/16/2036		44,800,000		43,596,000
Octagon Investment Partners 30 Ltd. Series 2017-1A Class A1R†	6.25%  (3 mo. USD LIBOR + 1.00%	)#	3/17/2030		65,566,262		64,812,250
Octagon Investment Partners 31 LLC Series 2017-1A Class AR†	6.30%  (3 mo. USD LIBOR + 1.05%	)#	7/20/2030		46,563,852		46,120,462
Octagon Investment Partners XIV Ltd. Series 2012-1A Class AARR†	6.21%  (3 mo. USD LIBOR + 0.95%	)#	7/15/2029		56,124,920		55,677,108
Pagaya AI Debt Selection Trust Series 2021-1 Class A†	1.18%		11/15/2027		3,830,003		3,813,967
Pagaya AI Debt Trust Series 2022-1 Class A†	2.03%		10/15/2029		23,267,459		22,611,107
PFS Financing Corp. Series 2020-E Class A†	1.00%		10/15/2025		41,275,000		40,511,516
Post Road Equipment Finance Series 2021-1 Class A2†	0.74%		12/15/2026		4,155,363		4,126,151

312 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)
ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Other (continued)
Regatta Funding LP Series 2013-2A Class A1R3†	6.11%  (3 mo. USD LIBOR + 0.85%	)#	1/15/2029	$	35,955,260	$	35,720,701
Regatta VIII Funding Ltd. Series 2017-1A Class A†	6.51%  (3 mo. USD LIBOR + 1.25%	)#	10/17/2030		16,237,143		16,085,292
TCI-Flatiron CLO Ltd. Series 2017-1A Class AR†	6.29%  (3 mo. USD LIBOR + 0.96%	)#	11/18/2030		42,773,919		42,388,954
Theorem Funding Trust Series 2021-1A Class A†	1.21%		12/15/2027		680,529		674,333
Verizon Master Trust Series 2022-1 Class A	1.04%		1/20/2027		118,400,000		117,699,368
Verizon Master Trust Series 2022-7 Class A1A	5.23%		11/22/2027		19,900,000		19,881,171
Total							1,176,536,480
Rec Vehicle Loan 0.06%
Octane Receivables Trust Series 2021-1A Class A†	0.93%		3/22/2027		5,854,890		5,677,530
Student Loan 0.16%
Navient Private Education Refi Loan Trust Series 2020-EA Class A†	1.69%		5/15/2069		17,215,514		15,513,197
Total Asset-Backed Securities (cost $2,438,551,965)							2,390,105,473
CORPORATE BONDS 44.96%
Aerospace/Defense 0.32%
Boeing Co.	1.433%		2/4/2024		30,630,000		29,718,169
Agriculture 0.34%
Philip Morris International, Inc.	5.125%		11/15/2024		31,580,000		31,606,142
Auto Manufacturers 2.95%
General Motors Financial Co., Inc.	5.10%		1/17/2024		36,347,000		36,215,237
General Motors Financial Co., Inc.	5.65%  (SOFR + 0.62%	)#	10/15/2024		44,943,000		44,606,195
General Motors Financial Co., Inc.	6.291%  (SOFR + 1.20%	)#	11/17/2023		41,986,000		42,038,512
Hyundai Capital America†	0.80%		1/8/2024		99,652,000		96,668,852
Hyundai Capital America†	1.25%		9/18/2023		15,532,000		15,314,094
Hyundai Capital America†	3.40%		6/20/2024		9,066,000		8,858,132
Mercedes-Benz Finance North America LLC†	5.906%  (SOFR + 0.93%	)#	3/30/2025		35,099,000		35,232,681
Total							278,933,703

See Notes to Financial Statements. 313

Schedule of Investments (unaudited)(continued)
ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks 27.85%
ANZ New Zealand International Ltd. (United Kingdom)†(b)	5.691%  (SOFR + 0.60%	)#	2/18/2025	$	17,916,000	$	17,851,830
Bank of America Corp.	2.015%  (3 mo. USD Term SOFR + 0.9%	)#	2/13/2026		20,717,000		19,438,055
Bank of America Corp.	2.456%  (3 mo. USD Term SOFR + 1.13%	)#	10/22/2025		10,000,000		9,543,896
Bank of America Corp.	3.093%  (3 mo. USD Term SOFR + 1.09%	)#	10/1/2025		43,877,000		42,314,250
Bank of America Corp.	3.458%  (3 mo. USD Term SOFR + 1.23%	)#	3/15/2025		30,943,000		30,352,716
Bank of America Corp.	3.841%  (SOFR + 1.11%	)#	4/25/2025		27,670,000		27,204,519
Bank of America Corp.	3.864%  (3 mo. USD Term SOFR + 1.20%	)#	7/23/2024		95,073,000		94,785,747
Bank of America Corp.	5.751%  (SOFR + 0.66%	)#	2/4/2025		45,370,000		45,251,572
Bank of Ireland Group PLC (Ireland)†(b)	4.50%		11/25/2023		69,084,000		68,461,277
Bank of Montreal (Canada)(b)	5.20%		12/12/2024		24,987,000		24,889,922
Bank of Montreal (Canada)(b)	5.231%  (SOFR + 0.35%	)#	12/8/2023		17,097,000		17,090,885
Bank of Montreal (Canada)(b)	5.591%  (SOFR + 0.71%	)#	3/8/2024		53,961,000		54,006,203
Bank of Nova Scotia (Canada)(b)	5.25%		12/6/2024		44,634,000		44,547,218
Bank of Nova Scotia (Canada)(b)	5.471%  (SOFR + 0.55%	)#	9/15/2023		67,842,000		67,887,474
Barclays plc (United Kingdom)(b)	3.932%  (3 mo. USD LIBOR + 1.61%	)#	5/7/2025		11,592,000		11,346,774
BBVA Bancomer SA†	4.375%		4/10/2024		2,496,000		2,468,906
BNP Paribas SA (France)†(b)	2.819%  (3 mo. USD LIBOR + 1.11%	)#	11/19/2025		29,231,000		27,864,412
BNP Paribas SA (France)†(b)	4.705%  (3 mo. USD LIBOR + 2.24%	)#	1/10/2025		25,820,000		25,581,796
BPCE SA (France)†(b)	4.625%		7/11/2024		13,498,000		13,214,155
BPCE SA (France)†(b)	5.15%		7/21/2024		34,141,000		33,430,461
BPCE SA (France)†(b)	5.598%  (SOFR + 0.57%	)#	1/14/2025		27,056,000		26,882,399
BPCE SA (France)†(b)	5.70%		10/22/2023		51,130,000		50,804,309
BPCE SA (France)†(b)	6.394%  (3 mo. USD LIBOR + 1.24%	)#	9/12/2023		18,134,000		18,163,023
Canadian Imperial Bank of Commerce (Canada)(b)	5.144%		4/28/2025		17,058,000		16,966,167

314 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)
ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Canadian Imperial Bank of Commerce (Canada)(b)	5.453% (SOFR + 0.42%	)#	10/18/2024	$	13,509,000	$	13,461,496
Citigroup, Inc.	3.352% (3 mo. USD Term SOFR + 1.16%	)#	4/24/2025		63,196,000		61,783,417
Commonwealth Bank of Australia (Australia)†(b)	5.648% (SOFR + 0.75%	)#	3/13/2026		43,886,000		43,811,882
Credit Suisse AG	0.52%		8/9/2023		22,364,000		22,076,064
Credit Suisse AG	5.471% (SOFR + 0.38%	)#	8/9/2023		13,500,000		13,427,187
Credit Suisse Group AG (Switzerland)(b)	3.80%		6/9/2023		27,000,000		26,979,750
Credit Suisse Group AG (Switzerland)†(b)	4.207% (3 mo. USD LIBOR + 1.24%	)#	6/12/2024		23,000,000		22,726,300
Danske Bank AS (Denmark)†(b)	1.226% (1 yr. CMT + 1.00%	)#	6/22/2024		24,463,000		24,400,221
Danske Bank AS (Denmark)†(b)	3.875%		9/12/2023		45,195,000		44,873,738
Danske Bank AS (Denmark)†(b)	5.375%		1/12/2024		73,404,000		72,844,615
Danske Bank AS (Denmark)†(b)	6.214% (3 mo. USD LIBOR + 1.06%	)#	9/12/2023		2,800,000		2,800,818
DNB Bank ASA (Norway)†(b)	2.968% (SOFR + 0.81%	)#	3/28/2025		22,826,000		22,278,979
First-Citizens Bank & Trust Co.	2.969% (3 mo. USD Term SOFR + 1.72%	)#	9/27/2025		9,804,000		9,171,867
First-Citizens Bank & Trust Co.	3.929% (SOFR + 3.83%	)#	6/19/2024		16,597,000		16,401,719
Goldman Sachs Group, Inc.	5.538% (SOFR + 0.49%	)#	10/21/2024		63,161,000		62,690,888
Goldman Sachs Group, Inc.	5.751% (SOFR + 0.70%	)#	1/24/2025		22,699,000		22,627,210
Goldman Sachs Group, Inc.	6.311% (SOFR + 1.39%	)#	3/15/2024		23,098,000		23,225,629
HSBC Holdings PLC (United Kingdom)(b)	3.803% (3 mo. USD LIBOR + 1.21%	)#	3/11/2025		76,119,000		74,716,507
Intesa Sanpaolo SpA (Italy)(b)	5.25%		1/12/2024		33,000,000		32,820,537
JPMorgan Chase & Co.	3.797% (3 mo. USD Term SOFR + 0.89%	)#	7/23/2024		113,585,000		113,261,296
JPMorgan Chase & Co.	3.845% (SOFR + 0.98%	)#	6/14/2025		23,567,000		23,104,795
JPMorgan Chase & Co.	5.546% (SOFR + 1.07%	)#	12/15/2025		70,914,000		71,030,824
Lloyds Banking Group PLC (United Kingdom)(b)	3.87% (1 yr. CMT + 3.50%	)#	7/9/2025		10,446,000		10,196,499

See Notes to Financial Statements. 315

Schedule of Investments (unaudited)(continued)
ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Banks (continued)
Lloyds Banking Group PLC (United Kingdom)(b)	3.90%		3/12/2024	$	24,884,000	$	24,491,956
Macquarie Group Ltd. (Australia)†(b)	6.207%		11/22/2024		63,562,000		64,020,439
Mitsubishi UFJ Financial Group, Inc. (Japan)(b)	6.465%	#	4/17/2026		35,250,000		35,473,111
Morgan Stanley	3.62%  (SOFR + 1.16%	)#	4/17/2025		55,387,000		54,279,607
Morgan Stanley	5.52%  (SOFR + 0.46%	)#	1/25/2024		94,617,000		94,550,255
Morgan Stanley	5.687%  (SOFR + 0.63%	)#	1/24/2025		54,477,000		54,236,138
National Securities Clearing Corp.†	5.15%		5/30/2025		13,477,000		13,514,747
NatWest Group PLC (United Kingdom)(b)	4.269%  (3 mo. USD LIBOR + 1.76%	)#	3/22/2025		73,255,000		72,033,567
NatWest Group PLC (United Kingdom)(b)	4.519%  (3 mo. USD LIBOR + 1.55%	)#	6/25/2024		82,684,000		82,535,732
NatWest Markets PLC (United Kingdom)†(b)	5.621%  (SOFR + 0.53%	)#	8/12/2024		22,842,000		22,711,428
NatWest Markets PLC (United Kingdom)†(b)	6.409%  (SOFR + 1.45%	)#	3/22/2025		40,000,000		40,058,351
Royal Bank of Canada (Canada)(b)	4.95%		4/25/2025		39,524,000		39,292,062
Santander U.K. Group Holdings PLC (United Kingdom)(b)	1.089%  (SOFR + 0.79%	)#	3/15/2025		12,444,000		11,883,800
Santander U.K. Group Holdings PLC (United Kingdom)(b)	4.796%  (3 mo. USD LIBOR + 1.57%	)#	11/15/2024		50,488,000		50,093,286
Standard Chartered PLC (United Kingdom)†(b)	3.785%  (3 mo. USD LIBOR + 1.56%	)#	5/21/2025		27,701,000		27,043,828
Standard Chartered PLC (United Kingdom)†(b)	5.20%		1/26/2024		30,000,000		29,706,456
Toronto-Dominion Bank (Canada)(b)	3.766%		6/6/2025		21,896,000		21,285,573
Toronto-Dominion Bank (Canada)(b)	4.285%		9/13/2024		63,599,000		62,660,689
Toronto-Dominion Bank (Canada)(b)	5.243% (SOFR + 0.35%	)#	9/10/2024		4,700,000		4,683,479
Truist Financial Corp.	3.75%		12/6/2023		7,129,000		7,048,889
Truist Financial Corp.	5.287%  (SOFR + 0.40%	)#	6/9/2025		25,087,000		24,195,984
UBS AG (United Kingdom)†(b)	0.70%		8/9/2024		24,006,000		22,605,491
UBS AG (Switzerland)(b)	5.125%		5/15/2024		36,443,000		35,908,746
UBS Group AG (Switzerland)†(b)	1.008%  (1 yr. CMT + .83%	)#	7/30/2024		11,381,000		11,271,652
UBS Group AG (Switzerland)†(b)	4.488%  (1 yr. CMT + 1.55%	)#	5/12/2026		33,697,000		32,584,918
UniCredit SpA (Italy)†(b)	7.83%		12/4/2023		69,639,000		69,943,324
Total							2,629,173,712

316 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate		Maturity Date	Principal Amount		Fair Value
Biotechnology 0.10%
Amgen, Inc.	5.25%		3/2/2025	$	8,920,000	$	8,948,509
Commercial Services 0.08%
Triton Container International Ltd.†	0.80%		8/1/2023		7,430,000		7,311,090
Computers 0.24%
Hewlett Packard Enterprise Co.	5.90%		10/1/2024		23,009,000		23,075,127
Diversified Financial Services 2.34%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.50%		9/15/2023		24,000,000		23,895,160
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)(b)	4.875%		1/16/2024		45,000,000		44,618,900
Aircastle Ltd.	4.40%		9/25/2023		8,000,000		7,935,849
American Express Co.	5.786% (SOFR + 0.93%	)#	3/4/2025		36,253,000		36,358,855
Aviation Capital Group LLC†	4.375%		1/30/2024		18,412,000		18,080,428
Avolon Holdings Funding Ltd. (Ireland)†(b)	3.95%		7/1/2024		9,147,000		8,850,510
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.125%		10/1/2023		21,534,000		21,441,614
Avolon Holdings Funding Ltd. (Ireland)†(b)	5.25%		5/15/2024		37,973,000		37,394,773
Park Aerospace Holdings Ltd. (Ireland)†(b)	5.50%		2/15/2024		22,918,000		22,675,483
Total							221,251,572
Electric 3.25%
American Electric Power Co., Inc.	5.699%		8/15/2025		9,376,000		8,575,856
American Electric Power Co., Inc.	5.779% (3 mo. USD LIBOR + 0.48%	)#	11/1/2023		32,614,000		32,593,465
CenterPoint Energy, Inc.	5.74% (SOFR + 0.65%	)#	5/13/2024		43,573,000		43,459,570
Comision Federal de Electricidad (Mexico)†(b)	4.875%		1/15/2024		30,753,000		30,386,945
Dominion Energy, Inc.	5.396% (3 mo. USD LIBOR + 0.53%	)#	9/15/2023		33,869,000		33,860,975
Jersey Central Power & Light Co.†	4.70%		4/1/2024		14,500,000		14,338,045
Monongahela Power Co.†	4.10%		4/15/2024		13,665,000		13,376,729
NextEra Energy Capital Holdings, Inc.	2.94%		3/21/2024		41,295,000		40,439,457
NextEra Energy Capital Holdings, Inc.	4.20%		6/20/2024		4,898,000		4,830,741
NextEra Energy Capital Holdings, Inc.	5.482% (SOFR + 0.4%	)#	11/3/2023		57,251,000		57,231,566
NextEra Energy Capital Holdings, Inc.	6.051%		3/1/2025		10,037,000		10,152,746
Saudi Electricity Global Sukuk Co. 3 (Saudi Arabia)†(b)	4.00%		4/8/2024		18,106,000		17,881,033
Total							307,127,128

See Notes to Financial Statements. 317

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Health Care-Products 1.01%
GE HealthCare Technologies, Inc.†		5.55%		11/15/2024	$	50,475,000	$	50,431,463
Thermo Fisher Scientific, Inc.		5.423% (SOFR + 0.39%	)#	10/18/2023		31,586,000		31,556,899
Thermo Fisher Scientific, Inc.		5.563% (SOFR + 0.53%	)#	10/18/2024		13,647,000		13,660,993
Total								95,649,355
Insurance 1.78%
Brighthouse Financial Global Funding†		5.782% (SOFR + 0.76%	)#	4/12/2024		32,460,000		32,129,353
GA Global Funding Trust†		0.80%		9/13/2024		37,195,000		34,760,906
GA Global Funding Trust†		5.398% (SOFR + 0.50%	)#	9/13/2024		7,486,000		7,323,242
GA Global Funding Trust†		6.382% (SOFR + 1.36%	)#	4/11/2025		45,784,000		44,807,378
Jackson National Life Global Funding†		6.132% (SOFR + 1.15%	)#	6/28/2024		49,131,000		49,152,502
Total								168,173,381
Lodging 0.11%
Hyatt Hotels Corp.		1.80%		10/1/2024		11,059,000		10,492,342
Media 0.69%
Charter Communications Operating LLC/Charter Communications Operating Capital	6.949% (3 mo. USD LIBOR + 1.65%		)#	2/1/2024		65,224,000		65,464,182
Mining 1.03%
Glencore Funding LLC†		4.125%		3/12/2024		42,858,000		42,205,438
Glencore Funding LLC†		4.625%		4/29/2024		55,531,000		54,986,557
Total								97,191,995
Miscellaneous Manufacturing 0.21%
Parker-Hannifin Corp.		3.65%		6/15/2024		19,759,000		19,380,945
Oil & Gas 0.10%
Ovintiv, Inc.		5.65%		5/15/2025		9,308,000		9,298,417
Pharmaceuticals 1.10%
AstraZeneca PLC (United Kingdom)(b)	5.995% (3 mo. USD LIBOR + 0.67%		)#	8/17/2023		7,157,000		7,154,956
Bayer U.S. Finance II LLC†	5.876% (3 mo. USD LIBOR + 1.01%		)#	12/15/2023		14,368,000		14,362,549

318 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Pharmaceuticals (continued)
Cigna Group	6.15% (3 mo. USD LIBOR + 0.89%		)#	7/15/2023	$	30,112,000	$	30,117,054
Pfizer Investment Enterprises Pte. Ltd. (Singapore)(b)		4.65%		5/19/2025		52,333,000		52,240,151
Total								103,874,710
Pipelines 0.80%
Enbridge, Inc. (Canada)(b)		5.722% (SOFR + 0.63%	)#	2/16/2024		31,647,000		31,599,097
TransCanada PipeLines Ltd. (Canada)(b)		6.407% (SOFR + 1.52%	)#	3/9/2026		43,659,000		43,737,061
Total								75,336,158
Semiconductors 0.31%
Marvell Technology, Inc.		4.20%		6/22/2023		29,372,000		29,346,915
Telecommunications 0.35%
AT&T, Inc.		5.615% (SOFR + 0.64%	)#	3/25/2024		33,143,000		33,143,587
Total Corporate Bonds (cost $4,282,030,285)								4,244,497,139
FLOATING RATE LOANS(c) 4.50%
Chemicals 0.86%
Celanese U.S. Holdings LLC 2022 364-Day Delayed Draw Term Loan		6.468%		10/31/2023		13,786,667		13,821,133
Nutrition & Biosciences, Inc. 3 Year Delayed Draw Term Loan		6.673%		2/1/2024		67,148,254		67,022,351
Total								80,843,484
Diversified Financial Services 0.28%
Delos Finance Sarl 2018 Term Loan B (Luxembourg)(b)	6.909% (3 mo. USD LIBOR + 1.75%		)	10/6/2023		26,436,322		26,455,620
Health Care Products 0.92%
Baxter International, Inc. 2021
Delayed Draw Term Loan Tranche 1	6.237% (1 mo. USD Term SOFR + 1.13%		)	9/30/2024		40,583,199		40,456,377
CVS Health Corp. 364 Day Term Loan	6.244% (3 mo. USD Term SOFR + 1.25%		)	5/1/2024		47,000,000		46,918,220
Total								87,374,597

See Notes to Financial Statements. 319

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
Media 1.02%
Charter Communications Operating LLC 2019 Term Loan B1	6.795% – 6.90% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%		) )	4/30/2025	$	96,857,827	$	96,775,498
Pipelines 0.26%
Targa Resources Corp. Term Loan	6.85% – 6.92% (1 mo. USD Term SOFR + 1.75% (3 mo. USD Term SOFR + 1.75%		) )	7/12/2025		24,400,000		24,323,750
Real Estate Investment Trusts 0.68%
American Tower Corp. 2021 First Lien Delayed Draw Term loan	6.25% (1 mo. USD LIBOR + 1.13%		)	12/8/2023		24,629,929		24,622,294
Invitation Homes Operating Partnership LP 2020 Term Loan A	6.253% (1 mo. USD Term SOFR + 1.00%		)	1/31/2025		40,000,000		39,300,000
Total								63,922,294
Semiconductors 0.48%
Marvell Technology Group Ltd. 2020 3 Year Term Loan A(b)		–	(d)	12/7/2023		45,275,000		45,303,523
Total Floating Rate Loans (cost $426,331,069)								424,998,766
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 4.22%
BBCMS Mortgage Trust Series 2017-DELC Class A†		6.082% (1 mo. USD LIBOR + 0.98%	)#	8/15/2036		4,680,000		4,675,607
BX Trust Series 2021-ARIA Class A†		6.006% (1 mo. USD LIBOR + 0.90%	)#	10/15/2036		9,304,000		9,011,336
BXHPP Trust Series 2021-FILM Class A†		5.757% (1 mo. USD LIBOR + 0.65%	)#	8/15/2036		29,800,000		28,006,111
BXMT Ltd. Series 2020-FL2 Class A†		6.081% (1 mo. USD Term SOFR + 1.01%	)#	2/15/2038		36,086,237		34,372,141
BXMT Ltd. Series 2021-FL4 Class A†		6.157% (1 mo. USD LIBOR + 1.05%	)#	5/15/2038		27,035,000		25,733,941
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R02 Class 2M1†	5.873% (30 day USD SOFR Average + 0.90%		)#	11/25/2041		15,288,014		15,157,635
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01 Class 1M1†	5.723% (30 day USD SOFR Average + 0.75%		)#	10/25/2041		6,494,797		6,468,841

320 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments		Interest Rate		Maturity Date	Principal Amount		Fair Value
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued)
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2M1†	6.173% (30 day USD SOFR Average + 1.20%		)#	1/25/2042	$	21,068,549	$	20,925,471
Freddie Mac STACR REMIC Trust Series 2021-DNA6 Class M1†	5.773% (30 day USD SOFR Average + 0.80%		)#	10/25/2041		2,223,208		2,213,960
Freddie Mac STACR REMIC Trust Series 2021-HQA2 Class M1†	5.673% (30 day USD SOFR Average + 0.70%		)#	12/25/2033		3,055,106		3,040,295
Freddie Mac STACR REMIC Trust Series 2021-HQA3 Class M1†	5.823% (30 day USD SOFR Average + 0.85%		)#	9/25/2041		12,970,072		12,572,576
Freddie Mac STACR REMIC Trust Series 2021-HQA4 Class M1†	5.923% (30 day USD SOFR Average + 0.95%		)#	12/25/2041		10,923,437		10,555,625
Freddie Mac STACR REMIC Trust Series 2022-DNA1 Class M1A†	5.973% (30 day USD SOFR Average + 1.00%		)#	1/25/2042		27,307,531		26,843,709
Great Wolf Trust Series 2019-WOLF Class A†		6.208% (1 mo. USD Term SOFR + 1.15%	)#	12/15/2036		14,400,000		14,216,916
GS Mortgage Securities Corp. Trust Series 2018-HULA Class A†		6.03% (1 mo. USD LIBOR + 0.92%	)#	7/15/2025		15,002,270		14,789,057
GS Mortgage Securities Corp. Trust Series 2021-RENT Class A†		5.848% (1 mo. USD LIBOR + 0.70%	)#	11/21/2035		24,496,195		23,182,403
GS Mortgage Securities Corp. Trust Series 2021-ROSS Class A†		6.258% (1 mo. USD LIBOR + 1.15%	)#	5/15/2026		40,000,000		36,296,960
Hilton Orlando Trust Series 2018-ORL Class A†		6.127% (1 mo. USD LIBOR + 1.02%	)#	12/15/2034		36,955,000		36,459,474
KIND Trust Series 2021-KIND Class A†		6.124% (1 mo. USD Term SOFR + 1.06%	)#	8/15/2038		24,572,407		23,096,391
PFP Ltd. Series 2021-7 Class A†		5.957% (1 mo. USD LIBOR + 0.85%	)#	4/14/2038		8,170,222		8,068,468
VASA Trust Series 2021-VASA Class A†		6.007% (1 mo. USD LIBOR + 0.90%	)#	7/15/2039		45,750,000		42,736,951
Total Non-Agency Commercial Mortgage-Backed Securities (cost $415,515,877)								398,423,868
U.S. TREASURY OBLIGATIONS 1.88%
U.S. Treasury Notes (cost $178,725,640)		3.875%		3/31/2025		179,386,000		177,325,863
Total Long-Term Investments (cost $7,741,154,836)								7,635,351,109

See Notes to Financial Statements. 321

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 20.38%
COMMERCIAL PAPER 17.21%
Agriculture 1.73%
BAT International Finance PLC	5.416%	7/28/2023	$	30,932,000	$	30,677,326
BAT International Finance PLC	6.177%	6/23/2023		29,346,000		29,238,398
BAT International Finance PLC	6.178%	6/27/2023		104,000,000		103,549,334
Total						163,465,058
Auto Manufacturers 0.97%
General Motors Financial Co., Inc.	5.68%	8/21/2023		34,900,000		34,421,920
General Motors Financial Co., Inc.	5.891%	7/12/2023		22,208,000		22,065,098
General Motors Financial Co., Inc.	5.893%	7/10/2023		14,750,000		14,659,718
General Motors Financial Co., Inc.	5.895%	7/12/2023		20,496,000		20,364,114
Total						91,510,850
Beverages 0.44%
Bacardi-Martini BV	Zero Coupon			41,296,000		41,163,535
Chemicals 0.99%
FMC Corp.	6.062%	6/23/2023		42,206,000		42,052,534
FMC Corp.	6.065%	6/26/2023		41,883,000		41,709,942
International Flavors & Fragrances, Inc.	5.937%	6/5/2023		9,300,000		9,293,955
Total						93,056,431
Commercial Services 0.51%
Global Payments, Inc.	5.912%	6/1/2023		13,233,000		13,233,000
Global Payments, Inc.	5.996%	6/1/2023		11,435,000		11,435,000
Quanta Services, Inc.	5.939%	6/2/2023		16,528,000		16,525,314
Quanta Services, Inc.	5.941%	6/2/2023		7,180,000		7,178,834
Total						48,372,148
Cosmetics/Personal Care 0.26%
Haleon U.K. Capital PLC	5.506%	6/1/2023		24,694,000		24,694,000
Diversified Financial Services 0.27%
Aviation Capital Group LLC	5.918%	6/2/2023		25,950,000		25,945,819
Electric 0.37%
RWE AG	6.02%	7/24/2023		34,914,000		34,613,303
Equity Real Estate 0.49%
Crown Castle, Inc.	6.009%	6/8/2023		46,006,000		45,953,221

322 See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Finance 1.89%
Brookfield Infrastructure Holdings Canada, Inc.	6.134%	7/27/2023	$	104,280,000	$	103,314,830
Brookfield Infrastructure Holdings Canada, Inc.	6.485%	10/5/2023		76,435,000		74,881,841
Total						178,196,671
Gas 0.48%
National Fuel Gas Co.	5.996%	6/8/2023		6,827,000		6,819,168
WGL Holdings, Inc.	5.946%	6/2/2023		8,800,000		8,798,570
WGL Holdings, Inc.	6.00%	6/12/2023		10,000,000		9,981,972
WGL Holdings, Inc.	6.001%	6/13/2023		20,000,000		19,960,667
Total						45,560,377
Health Care-Services 1.55%
CommonSpirit Health	5.934%	6/14/2023		68,800,000		68,655,903
CommonSpirit Health	5.935%	6/22/2023		49,173,000		49,006,631
CommonSpirit Health	5.935%	6/29/2023		28,908,000		28,777,593
Total						146,440,127
Oil & Gas 1.07%
Canadian Natural Resources Ltd.	5.971%	6/21/2023		32,864,000		32,756,827
Ovintiv, Inc.	6.093%	6/16/2023		31,161,000		31,083,746
Ovintiv, Inc.	6.167%	6/9/2023		8,800,000		8,788,169
Ovintiv, Inc.	6.189%	6/20/2023		28,221,000		28,130,889
Total						100,759,631
Pharmaceuticals 1.37%
Bayer Corp.	6.048%	7/21/2023		127,068,000		126,035,573
Bayer Corp.	6.059%	9/14/2023		3,901,000		3,836,240
Total						129,871,813
Pipelines 1.74%
Energy Transfer LP	5.831%	6/1/2023		114,932,000		114,932,000
Targa Resources Corp.	6.061%	6/23/2023		32,335,000		32,217,426
Targa Resources Corp.	6.117%	6/7/2023		17,659,000		17,641,341
Total						164,790,767
Retail 1.75%
AutoNation, Inc.	5.90%	6/14/2023		50,000,000		49,895,278
AutoNation, Inc.	5.949%	6/5/2023		39,300,000		39,274,455
Walgreens Boots Alliance, Inc.	6.119%	7/6/2023		76,175,000		75,730,646
Total						164,900,379

See Notes to Financial Statements. 323

Schedule of Investments (unaudited)(continued)

ULTRA SHORT BOND FUND May 31, 2023

Investments	Interest Rate	Maturity Date	Principal Amount		Fair Value
Telecommunications 1.33%
AT&T, Inc.	5.837%	12/19/2023	$	83,444,000	$	80,716,656
Rogers Communications, Inc.	6.125%	6/27/2023		44,750,000		44,557,700
Total						125,274,356
Total Commercial Paper (cost $1,624,672,654)						1,624,568,486
U.S. TREASURY OBLIGATIONS 2.87%
U.S. Treasury Bills	Zero Coupon	10/19/2023		180,000,000		176,347,750
U.S. Treasury Bills	Zero Coupon	11/24/2023		97,192,000		94,721,084
Total U.S. Treasury Obligations (cost $271,184,042)						271,068,834
REPURCHASE AGREEMENTS 0.30%
Repurchase Agreement dated 5/31/2023, 2.600% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $31,931,200 of U.S. Treasury Note at 0.500% due 2/28/2026; value: $28,960,101; proceeds: $28,394,264 (cost $28,392,213)				28,392,213		28,392,213
Total Short-Term Investments (cost $1,924,248,909)						1,924,029,533
Total Investments in Securities 101.25% (cost $9,665,403,745)						9,559,380,642
Other Assets and Liabilities – Net(e) (1.25)%						(118,311,726	)
Net Assets 100.00%					$	9,441,068,916

CMT	Constant Maturity Rate.
LIBOR	London Interbank Offered Rate.
SOFR	Secured Overnight Financing Rate.
†	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At May 31, 2023, the total value of Rule 144A securities was $3,694,927,887, which represents 39.14% of net assets.
#	Variable rate security. The interest rate represents the rate in effect at May 31, 2023.
(a)	Level 3 Investment as described in Note 2(u) in the Notes to Financials. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
(b)	Foreign security traded in U.S. dollars.
(c)	Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the London Interbank Offered Rate (“LIBOR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at May 31, 2023.
(d)	Interest Rate to be determined.
(e)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on futures contracts as follows:

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts	Position	Notional Amount	Notional Value	Unrealized Appreciation
U.S. 2-Year Treasury Note	September 2023	4,114	Long	$846,535,879	$846,776,911	$241,032

324 See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

ULTRA SHORT BOND FUND May 31, 2023

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1		Level 2		Level 3		Total
Long-Term Investments
Asset-Backed Securities
Other	$	–	$	1,136,694,088	$	39,842,392	$	1,176,536,480
Remaining Industries		–		1,213,568,993		–		1,213,568,993
Corporate Bonds		–		4,244,497,139		–		4,244,497,139
Floating Rate Loans		–		424,998,766		–		424,998,766
Non-Agency Commercial Mortgage-Backed Securities		–		398,423,868		–		398,423,868
U.S. Treasury Obligations		–		177,325,863		–		177,325,863
Short-Term Investments
Commercial Paper		–		1,624,568,486		–		1,624,568,486
U.S. Treasury Obligations		–		271,068,834		–		271,068,834
Repurchase Agreements		–		28,392,213		–		28,392,213
Total	$	–	$	9,519,538,250	$	39,842,392	$	9,559,380,642
Other Financial Instruments
Futures Contracts
Assets	$	241,032	$	–	$	–	$	241,032
Liabilities		–		–		–		–
Total	$	241,032	$	–	$	–	$	241,032

(1)

Refer to Note 2(u) for a description of fair value measurements and the three-tier hierarchy of inputs.

(2)

See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

See Notes to Financial Statements. 325

Statements of Assets and Liabilities (unaudited)

May 31, 2023

	Convertible Fund		Core Fixed Income Fund		Core Plus Bond Fund
ASSETS:
Investments in securities, at cost	$	699,948,830	$	3,276,226,177	$	1,521,690,547
Investments in securities, at fair value including $0, $0, $0, $0, $55,104,940, $0, $0 and $0, respectively, of securities loaned	$	694,191,402	$	3,212,590,926	$	1,500,008,614
Cash		103,077		500,553		500
Cash at brokers for forwards, swap contracts and TBA collateral		–		–		–
Deposits with brokers for futures collateral		–		11,547,869		5,482,772
Deposits with brokers for forwards, swap contracts and TBA collateral		–		4,279,000		5,501,425
Foreign cash, at value (cost $0, $63,630, $23,763, $0, $453,911, $731,890, $48,149 and $3, respectively)		–		66,181		24,658
Receivables:
Investment securities sold		3,291,396		738,239,570		360,010,355
Interest and dividends		3,047,694		15,135,840		9,968,709
Capital shares sold		304,191		6,438,729		4,700,231
From advisor (See Note 3)		–		50,977		–
Variation Margin for futures contracts		–		1,771,895		771,916
Variation margin receivable for centrally cleared swap contracts agreements		–		–		–
Securities lending income receivable		–		–		–
Total return swap contracts, at fair value including upfront payment of $0, $0, $0, $0, $(2,456), $0, $0 and $0, respectively)		–		–		–
Unrealized appreciation on forward foreign currency exchange contracts		499,299		–		5,271
Unrealized appreciation on OTC CPI swap contracts		–		–		–
Prepaid expenses and other assets		107,422		278,927		239,064
Total assets		701,544,481		3,990,900,467		1,886,713,515
LIABILITIES:
Payables:
Investment securities purchased		4,463,896		1,270,019,991		621,548,987
Capital shares reacquired		1,051,939		3,589,433		4,416,400
Management fee		422,701		492,082		291,995
Trustees’ fees		115,156		178,757		14,185
12b-1 distribution plan		33,325		137,580		36,703
Fund administration		24,154		89,923		41,714
To brokers for forwards, swap contracts and TBA collateral		–		–		–
Variation margin for futures contracts		–		–		–
Variation margin payable for centrally cleared swap contract agreements		–		–		97,784
To broker		–		–		–
To bank		–		–		–
Payable for collateral due to broker for securities lending		–		–		–
Unrealized depreciation on forward foreign currency exchange contracts		44,181		358,910		183,341

326 See Notes to Financial Statements.

Corporate Bond Fund		Floating Rate Fund		High Yield Fund		Income Fund		Inflation Focused Fund
$	7,330,956	$	5,271,590,747	$	4,458,022,441	$	3,082,725,956	$	1,689,033,157
$	6,818,090	$	5,119,417,889	$	4,165,144,224	$	2,926,783,994	$	1,609,027,620
	23,258		–		–		17		2,629,317
	–		1,300,000		–		–		25,905,000
	22,530		–		5,630,903		15,384,810		12,424,185
	5,265		6,828,133		10,461,344		1,813,302		46,856,694
	–		452,798		733,474		48,272		–
	–		215,071,865		32,201,029		–		10,017,697
	76,310		51,370,562		72,938,580		31,765,179		12,775,795
	42,177		7,604,972		8,296,009		12,992,588		1,168,302
	18,345		–		–		–		–
	881		–		–		1,921,479		2,386,449
	–		–		662,924		–		–
	–		129,415		–		–		–
	–		4,429,479		–		–		–
	–		439,579		755,209		100,944		–
	–		–		–		–		50,317,398
	84,748		187,894		179,512		154,168		116,607
	7,091,604		5,407,232,586		4,297,003,208		2,990,964,753		1,773,625,064
	66,008		287,064,562		20,272,220		29,335,143		3,221,926
	3,119		20,981,287		12,793,586		6,275,701		8,031,315
	2,337		2,007,062		1,956,785		933,559		458,323
	1,130		937,918		718,012		427,335		120,817
	853		1,318,446		410,178		315,256		252,297
	234		174,631		146,351		98,269		61,110
	–		1,300,000		–		–		25,905,000
	–		–		945,017		–		–
	–		765,807		–		123,170		3,668,133
	–		–		911,403		–		–
	–		148,811		2,174		–		–
	–		56,904,050		–		–		–
	–		836,789		2,992,687		–		–

See Notes to Financial Statements. 327

Statements of Assets and Liabilities (unaudited)(continued)

May 31, 2023

	Convertible Fund			Core Fixed Income Fund			Core Plus Bond Fund
LIABILITIES:
Unrealized depreciation on OTC CPI swap contracts	$	–		$	–		$	–
Unrealized depreciation on unfunded commitments		–			–			–
Distributions payable		–			37,414			16,042
Accrued expenses and other liabilities		281,961			268,425			44,448
Total liabilities		6,437,313			1,275,172,515			626,691,599
NET ASSETS	$	695,107,168		$	2,715,727,952		$	1,260,021,916
COMPOSITION OF NET ASSETS:
Paid-in capital	$	942,078,619		$	3,042,376,719		$	1,346,895,438
Total distributable earnings (loss)		(246,971,451	)		(326,648,767	)		(86,873,522	)
Net Assets	$	695,107,168		$	2,715,727,952		$	1,260,021,916
Net Assets by class:
Class A Shares	$	175,698,603		$	580,849,080		$	125,406,871
Class C Shares	$	35,309,196		$	23,877,670		$	11,228,739
Class F Shares	$	46,794,107		$	76,487,920		$	47,960,719
Class F3 Shares	$	16,640,341		$	456,650,537		$	94,897,365
Class I Shares	$	389,777,269		$	1,520,279,483		$	976,059,434
Class P Shares	$	34,957		$	–		$	–
Class R2 Shares	$	75,726		$	363,072		$	–
Class R3 Shares	$	18,417,939		$	5,939,663		$	227,760
Class R4 Shares	$	477,531		$	8,916,444		$	284,537
Class R5 Shares	$	1,602,716		$	1,816,496		$	10,178
Class R6 Shares	$	10,278,783		$	40,547,587		$	3,946,313
Outstanding shares by class (unlimited number of authorized shares of beneficial interest):
Class A Shares		14,523,341			62,314,951			9,786,467
Class C Shares		2,953,408			2,573,522			875,902
Class F Shares		3,863,483			8,206,549			3,745,906
Class F3 Shares		1,356,953			48,995,011			7,405,835
Class I Shares		31,915,898			163,198,723			76,232,285
Class P Shares		2,816			–			–
Class R2 Shares		6,108			38,942			–
Class R3 Shares		1,533,751			637,214			17,778
Class R4 Shares		39,474			956,828			22,202
Class R5 Shares		131,270			194,844			794
Class R6 Shares		837,868			4,352,892			307,895
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):
Class A Shares-Net asset value		$12.10			$9.32			$12.81
Class A Shares-Maximum offering price (Net asset value plus sales charge of 2.25%)		$12.38			$9.53			$13.10
Class C Shares-Net asset value		$11.96			$9.28			$12.82
Class F Shares-Net asset value		$12.11			$9.32			$12.80
Class F3 Shares-Net asset value		$12.26			$9.32			$12.81
Class I Shares-Net asset value		$12.21			$9.32			$12.80
Class P Shares-Net asset value		$12.41			$     –			$       –
Class R2 Shares-Net asset value		$12.40			$9.32			$       –
Class R3 Shares-Net asset value		$12.01			$9.32			$12.81
Class R4 Shares-Net asset value*		$12.10			$9.32			$12.82
Class R5 Shares-Net asset value		$12.21			$9.32			$12.82
Class R6 Shares-Net asset value		$12.27			$9.32			$12.82

* Net asset value may not recalculate due to rounding of fractional shares.

328 See Notes to Financial Statements.

Corporate Bond Fund			Floating Rate Fund			High Yield Fund			Income Fund			Inflation Focused Fund
$	–		$	–		$	–		$	–		$	15,476,755
	–			184,023			–			–			–
	11,013			4,828,919			1,644,536			579,669			169,494
	38,895			4,766,207			1,321,263			467,110			878,313
	123,589			382,218,512			44,114,212			38,555,212			58,243,483
$	6,968,015		$	5,025,014,074		$	4,252,888,996		$	2,952,409,541		$	1,715,381,581
$	8,498,754		$	7,056,687,970		$	5,291,066,241		$	3,502,925,874		$	2,191,736,601
	(1,530,739	)		(2,031,673,896	)		(1,038,177,245	)		(550,516,333	)		(476,355,020	)
$	6,968,015		$	5,025,014,074		$	4,252,888,996		$	2,952,409,541		$	1,715,381,581
$	2,243,692		$	1,565,624,297		$	754,505,468		$	982,928,168		$	322,251,414
$	338,927		$	363,555,856		$	146,195,249		$	42,599,949		$	68,488,847
$	1,209,986		$	331,299,122		$	231,527,413		$	64,595,057		$	103,120,586
$	1,368,970		$	114,217,092		$	582,686,062		$	1,010,362,839		$	185,459,625
$	240,178		$	2,531,678,536		$	1,660,600,415		$	747,235,639		$	1,021,462,706
$	–		$	–		$	–		$	–		$	–
$	22,999		$	822,831		$	4,669,984		$	1,155,199		$	273,126
$	93,513		$	77,486,106		$	83,188,459		$	50,287,699		$	567,699
$	23,244		$	1,742,618		$	67,480,157		$	6,142,187		$	2,322,524
$	23,425		$	2,585,144		$	185,841,511		$	1,963,750		$	1,898,945
$	1,403,081		$	36,002,472		$	536,194,278		$	45,139,054		$	9,536,109
	271,544			198,580,455			123,857,544			408,267,837			27,951,930
	41,007			46,074,165			24,128,199			17,621,288			5,933,335
	146,109			42,047,560			38,053,469			26,851,319			8,931,792
	165,638			14,465,480			95,203,560			419,711,204			16,071,198
	29,078			320,847,310			271,331,375			310,146,319			88,636,641
	–			–			–			–			–
	2,783			104,268			762,180			476,408			23,806
	11,319			9,822,210			13,578,441			20,820,745			49,274
	2,812			221,024			11,079,373			2,548,895			201,572
	2,834			327,359			30,388,231			815,422			164,955
	169,765			4,561,439			87,594,332			18,747,524			827,800
	$8.26			$7.88			$6.09			$2.41			$11.53
	$8.45			$8.06			$6.23			$2.47			$11.80
	$8.27			$7.89			$6.06			$2.42			$11.54
	$8.28			$7.88			$6.08			$2.41			$11.55
	$8.26			$7.90			$6.12			$2.41			$11.54
	$8.26			$7.89			$6.12			$2.41			$11.52
	$     –			$     –			$     –			$     –			$       –
	$8.26			$7.89			$6.13			$2.42			$11.47
	$8.26			$7.89			$6.13			$2.42			$11.52
	$8.26			$7.88			$6.09			$2.41			$11.52
	$8.27			$7.90			$6.12			$2.41			$11.51
	$8.26			$7.89			$6.12			$2.41			$11.52

See Notes to Financial Statements. 329

Statements of Assets and Liabilities (unaudited)(continued)

May 31, 2023

	Short Duration Core Bond Fund				Short Duration Income Fund
ASSETS:
Investments in securities, at cost		$	373,163,939		$	48,786,325,722
Investments in securities, at fair value		$	367,867,276		$	46,857,726,035
Cash			–			8,483,675
Deposits with brokers for futures collateral			1,063,589			159,012,883
Deposits with brokers for forwards, swap contracts and TBA collateral			69,103			63,223,270
Foreign cash, at value (cost $0, $56,705, $163,643 and $329, respectively)			–			56,857
Receivables:
Interest and dividends			2,746,422			356,055,117
Capital shares sold			1,021,832			54,443,336
Investment securities sold			345,250			168,085,642
Variation Margin for futures contracts			188,949			23,222,558
From advisor (See Note 3)			40,290			–
Unrealized appreciation on forward foreign currency exchange contracts			–			229,799
Prepaid expenses and other assets			146,928			300,068
Total assets			373,489,639			47,690,839,240
LIABILITIES:
Payables:
Investment securities purchased			4,298,743			490,873,124
Capital shares reacquired			1,233,639			172,919,588
Management fee			92,710			10,214,942
To bank			42,402			–
12b-1 distribution plan			21,060			6,704,392
Fund administration			12,361			1,614,007
Trustees’ fees			5,813			5,238,462
Variation margin payable for centrally cleared swap contract agreements			3,943			517,805
Credit default swap contract agreements payable, at fair value (including upfront payments of $0, $1,676,524, $0 and $0, respectively)			–			11,253,623
Unrealized depreciation on forward foreign currency exchange contracts			–			–
Distributions payable			27,666			23,013,348
Accrued expenses and other liabilities			55,209			6,551,944
Total liabilities			5,793,546			728,901,235
NET ASSETS		$	367,696,093		$	46,961,938,005
COMPOSITION OF NET ASSETS:
Paid-in capital		$	387,311,030		$	55,834,602,548
Total distributable earnings (loss)			(19,614,937	)		(8,872,664,543	)
Net Assets		$	367,696,093		$	46,961,938,005

330 See Notes to Financial Statements.

	Total Return Fund			Ultra Short Bond Fund
$	3,696,497,882		$	9,665,403,745
$	3,559,287,052		$	9,559,380,642
	864			1,619
	15,239,836			5,965,300
	15,563,122			–
	167,740			319
	21,512,196			52,157,642
	9,571,320			33,720,212
	723,434,247			57,281,719
	2,166,228			1,317,781
	33,433			–
	153,575			–
	114,456			130,814
	4,347,244,069			9,709,956,048
	1,212,046,727			223,450,785
	5,454,949			37,672,206
	741,973			1,371,304
	–			–
	216,511			494,885
	105,996			322,660
	401,813			1,206,622
	5,579,184			–
	–			–
	505,531			–
	896,758			2,438,692
	781,437			1,929,978
	1,226,730,879			268,887,132
$	3,120,513,190		$	9,441,068,916
$	3,772,424,610		$	9,741,447,503
	(651,911,420	)		(300,378,587	)
$	3,120,513,190		$	9,441,068,916

See Notes to Financial Statements. 331

Statements of Assets and Liabilities (unaudited)(concluded)

May 31, 2023

	Short Duration Core Bond Fund		Short Duration Income Fund
Net assets by class:
Class A Shares	$	77,456,694	$	8,461,815,814
Class A1 Shares	$	–	$	–
Class C Shares	$	5,098,412	$	1,860,232,680
Class F Shares	$	28,383,505	$	2,479,487,117
Class F3 Shares	$	37,212,587	$	4,937,676,182
Class I Shares	$	218,269,083	$	27,583,298,760
Class P Shares	$	–	$	–
Class R2 Shares	$	–	$	6,683,619
Class R3 Shares	$	590,424	$	341,400,496
Class R4 Shares	$	20,215	$	147,738,992
Class R5 Shares	$	11,307	$	60,495,218
Class R6 Shares	$	653,866	$	1,083,109,127
Outstanding shares by class (unlimited number of authorized shares of beneficial interest):
Class A Shares		8,489,195		2,206,014,333
Class A1 Shares		–		–
Class C Shares		559,062		482,017,165
Class F Shares		3,112,981		646,323,121
Class F3 Shares		4,081,848		1,285,708,084
Class I Shares		23,936,898		7,197,259,925
Class P Shares		–		–
Class R2 Shares		–		1,741,699
Class R3 Shares		64,759		88,912,666
Class R4 Shares		2,216		38,442,315
Class R5 Shares		1,240		15,800,144
Class R6 Shares		71,702		282,530,662
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):
Class A Shares-Net asset value		$9.12		$3.84
Class A Shares-Maximum offering price (Net asset value plus sales charge of 2.25%)		$9.33		$3.93
Class A1 Shares-Net asset value		$     –		$     –
Class A1 Shares-Maximum offering price (Net asset value plus sales charge of 1.50%)		$     –		$     –
Class C Shares-Net asset value		$9.12		$3.86
Class F Shares-Net asset value		$9.12		$3.84
Class F3 Shares-Net asset value		$9.12		$3.84
Class I Shares-Net asset value		$9.12		$3.83
Class P Shares-Net asset value		$     –		$     –
Class R2 Shares-Net asset value		$     –		$3.84
Class R3 Shares-Net asset value		$9.12		$3.84
Class R4 Shares-Net asset value		$9.12		$3.84
Class R5 Shares-Net asset value		$9.12		$3.83
Class R6 Shares-Net asset value		$9.12		$3.83

332 See Notes to Financial Statements.

Total Return Fund		Ultra Short Bond Fund
$	970,370,387	$	4,090,148,092
$	–	$	3,311,344
$	30,742,365	$	–
$	88,683,264	$	470,185,113
$	758,125,300	$	714,391,864
$	1,000,644,733	$	4,100,734,620
$	511,439	$	–
$	1,235,657	$	–
$	27,888,397	$	–
$	30,394,448	$	–
$	19,945,421	$	176,355
$	191,971,779	$	62,121,528
	110,851,680		414,352,528
	–		335,352
	3,514,626		–
	10,132,827		47,629,465
	86,565,945		72,376,248
	114,084,248		415,442,536
	58,140		–
	141,199		–
	3,186,549		–
	3,472,258		–
	2,278,028		17,863
	21,910,038		6,291,341
	$8.75		$  9.87
	$8.95		$       –
	$     –		$  9.87
	$     –		$10.02
	$8.75		$       –
	$8.75		$  9.87
	$8.76		$  9.87
	$8.77		$  9.87
	$8.80		$       –
	$8.75		$       –
	$8.75		$       –
	$8.75		$       –
	$8.76		$  9.87
	$8.76		$  9.87

See Notes to Financial Statements. 333

Statements of Operations (unaudited)

For the Six Months Ended May 31, 2023

	Convertible Fund			Core Fixed Income Fund			Core Plus Bond Fund
Investment income:
Dividends	$	1,716,890		$	–		$	–
Securities lending net income		897			–			–
Interest and other (net of foreign withholding taxes of $0, $7,140, $1,169, $16, $0, $11,877, $6,896 and $0, respectively)		10,730,682			54,034,192			25,695,742
Total investment income		12,448,469			54,034,192			25,695,742
Expenses:
Management fee		2,726,431			2,630,676			1,425,635
12b-1 distribution plan–Class A		190,471			507,050			113,259
12b-1 distribution plan–Class C		160,303			87,603			38,357
12b-1 distribution plan–Class F		42,265			41,910			47,488
12b-1 distribution plan–Class P		79			–			–
12b-1 distribution plan–Class R2		226			1,110			–
12b-1 distribution plan–Class R3		48,644			14,742			483
12b-1 distribution plan–Class R4		650			10,549			366
Shareholder servicing		397,395			608,495			264,293
Fund administration		155,796			476,272			203,662
Registration		106,931			125,831			128,370
Reports to shareholders		37,460			54,972			12,844
Professional		33,949			36,665			31,230
Trustees’ fees		10,524			27,417			10,362
Custody		9,734			23,162			13,272
Interest paid from Interfund Lending (See Note 11)		–			–			–
Other		54,436			81,338			38,966
Gross expenses		3,975,294			4,727,792			2,328,587
Expense reductions (See Note 9)		(9,454	)		(16,673	)		(11,946	)
Fees waived and expenses reimbursed (See Note 3)		(9,734	)		(23,162	)		(13,272	)
Shareholder servicing reimbursed–Class I (See Note 3)		–			(262,554	)		–
Net expenses		3,956,106			4,425,403			2,303,369
Net investment income		8,492,363			49,608,789			23,392,373
Net realized and unrealized gain (loss):
Net realized gain (loss) on investments		(33,889,988	)		(11,556,675	)		(6,739,248	)
Net realized gain (loss) on futures contracts		–			(5,970,900	)		(4,762,994	)
Net realized gain (loss) on forward foreign currency exchange contracts		(1,194,015	)		(765,917	)		(235,559	)
Net realized gain (loss) on swap contracts		–			789,421			931,196
Net realized gain (loss) on foreign currency related transactions		246,525			407,431			185,484
Net change in unrealized appreciation/depreciation on investments		4,966,468			12,389,607			30,940
Net change in unrealized appreciation/depreciation on futures contracts		–			1,154,978			1,331,203
Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts		1,539,948			(24,390	)		(70,961	)

334 See Notes to Financial Statements.

Corporate Bond Fund			Floating Rate Fund			High Yield Fund			Income Fund			Inflation Focused Fund
$	–		$	4,181,264		$	278,975		$	–		$	–
	–			594,610			11,253			–			–
	149,725			248,680,352			153,121,540			69,441,266			39,612,266
	149,725			253,456,226			153,411,768			69,441,266			39,612,266
	13,850			13,149,769			11,924,026			5,164,588			3,169,277
	1,960			1,726,797			775,677			971,058			388,839
	2,825			1,698,966			646,017			182,489			367,148
	576			281,349			164,873			42,938			89,747
	–			–			–			–			–
	70			3,203			14,161			3,423			573
	229			192,582			211,272			120,700			1,370
	29			2,125			91,052			7,605			2,576
	1,936			2,448,080			2,077,350			809,759			935,996
	1,385			1,146,707			894,087			543,641			424,905
	76,990			254,738			146,316			144,139			132,591
	1,208			176,883			159,771			112,606			104,656
	30,274			69,196			58,709			49,530			54,091
	240			76,293			56,143			32,074			29,622
	2,976			58,516			60,468			19,887			32,392
	–			–			10,548			–			–
	5,106			295,787			164,793			67,060			677,921
	139,654			21,580,991			17,455,263			8,271,497			6,411,704
	(58	)		(77,815	)		(42,531	)		(22,654	)		(24,724	)
	(118,126	)		(58,516	)		(60,468	)		(19,887	)		(32,392	)
	–			–			–			–			–
	21,470			21,444,660			17,352,264			8,228,956			6,354,588
	128,255			232,011,566			136,059,504			61,212,310			33,257,678
	(260,788	)		(110,744,920	)		(201,017,580	)		(48,965,392	)		(34,150,374	)
	(24,321	)		10,952,698			(4,345,225	)		(12,885,329	)		(3,500,576	)
	–			(1,749,861	)		(7,454,425	)		(275,180	)		–
	1,667			8,573,259			3,413,275			133,644			35,274,157
	–			1,091,138			2,082,280			43,054			–
	282,685			88,892,476			135,668,223			64,230,057			57,218,285
	7,244			–			(529,629	)		3,844,371			(1,989,923	)
	–			547,930			3,089,328			356,299			–

See Notes to Financial Statements. 335

Statements of Operations (unaudited)(continued)

For the Six Months Ended May 31, 2023

	Convertible Fund			Core Fixed Income Fund			Core Plus Bond Fund
Net realized and unrealized gain (loss):
Net change in unrealized appreciation/depreciation on swap contracts	$	–		$	–		$	(87,461	)
Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies		11,773			(21,120	)		(9,249	)
Net change in unrealized appreciation/depreciation on unfunded commitments		–			–			–
Net realized and unrealized gain (loss)		(28,319,289	)		(3,597,565	)		(9,426,649	)
Net Increase (Decrease) in Net Assets Resulting From Operations	$	(19,826,926	)	$	46,011,224		$	13,965,724

336 See Notes to Financial Statements.

Corporate Bond Fund			Floating Rate Fund			High Yield Fund			Income Fund			Inflation Focused Fund
$	(333	)	$	378,015		$	(5,106,634	)	$	(337,134	)	$	(60,020,506	)
	–			(345,189	)		38,720			(110	)		(3	)
	–			374,505			–			–			–
	6,154			(2,029,949	)		(74,161,667	)		6,144,280			(7,168,940	)
$	134,409		$	229,981,617		$	61,897,837		$	67,356,590		$	26,088,738

See Notes to Financial Statements. 337

Statements of Operations (unaudited)(concluded)

For the Six Months Ended May 31, 2023

	Short Duration Core Bond Fund			Short Duration Income Fund
Investment income:
Interest and other (net of foreign withholding taxes of $712, $70,193, $7,369 and $12,167, respectively)	$	7,855,508		$	1,026,567,141
Interest earned from Interfund Lending (See Note 11)		–			342
IRS compliance fee for foreign withholding tax claims		–			1,792
Total investment income		7,855,508			1,026,569,275
Expenses:
Management fee		499,855			61,743,940
12b-1 distribution plan–Class A		74,531			8,953,119
12b-1 distribution plan–Class A1		–			–
12b-1 distribution plan–Class C		21,440			8,249,691
12b-1 distribution plan–Class F		15,041			2,060,395
12b-1 distribution plan–Class P		–			–
12b-1 distribution plan–Class R2		–			18,586
12b-1 distribution plan–Class R3		1,457			876,950
12b-1 distribution plan–Class R4		17			183,242
Shareholder servicing		134,742			17,796,156
Registration		127,294			692,878
Fund administration		66,647			9,759,359
Professional		31,059			210,689
Custody		8,711			273,268
Reports to shareholders		6,619			1,109,547
Trustees’ fees		3,667			567,641
Other		17,325			504,880
Gross expenses		1,008,405			113,000,341
Expense reductions (See Note 9)		(4,057	)		(579,005	)
Fees waived and expenses reimbursed (See Note 3)		(239,945	)		(273,268	)
Shareholder servicing reimbursed–Class I (See Note 3)		–			–
Net expenses		764,403			112,148,068
Net investment income		7,091,105			914,421,207
Net realized and unrealized gain (loss):
Net realized gain (loss) on investments		(454,562	)		(157,735,318	)
Net realized gain (loss) on futures contracts		(796,335	)		(93,109,898	)
Net realized gain (loss) on forward foreign currency exchange contracts		–			(50,930,298	)
Net realized gain (loss) on swap contracts		429			2,193,654
Net realized gain (loss) on foreign currency related transactions		–			(449,508	)
Net change in unrealized appreciation/depreciation on investments		1,652,452			475,556,782
Net change in unrealized appreciation/depreciation on futures contracts		(123,585	)		(29,872,872	)
Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts		–			29,213,046
Net change in unrealized appreciation/depreciation on swap contracts		(3,984	)		(5,126,867	)
Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies		–			(333	)
Net realized and unrealized gain (loss)		274,415			169,738,388
Net Increase in Net Assets Resulting From Operations	$	7,365,520		$	1,084,159,595

338 See Notes to Financial Statements.

	Total Return Fund			Ultra Short Bond Fund
$	70,750,639		$	213,552,479
	2,946			2,643
	–			–
	70,753,585			213,555,122
	4,282,036			8,670,185
	972,409			3,408,449
	–			4,544
	134,214			–
	93,951			412,281
	1,159			–
	3,694			–
	70,227			–
	37,931			–
	1,280,966			3,190,391
	119,626			293,517
	611,719			2,040,044
	41,213			67,721
	29,192			61,126
	124,684			159,807
	37,168			133,226
	112,913			243,370
	7,953,102			18,684,661
	(28,451	)		(126,854	)
	(29,192	)		(61,126	)
	(171,955	)		–
	7,723,504			18,496,681
	63,030,081			195,058,441
	(38,644,056	)		(49,470,947	)
	(6,596,093	)		(8,427,692	)
	(1,474,866	)		–
	(4,222,387	)		–
	640,055			–
	41,803,003			136,557,293
	2,831,435			(505,327	)
	498,736			–
	5,503,901			–
	(31,533	)		(10	)
	308,195			78,153,317
$	63,338,276		$	273,211,758

See Notes to Financial Statements. 339

Statements of Changes in Net Assets

	Convertible Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
Operations:
Net investment income		$	8,492,363			$	17,285,710
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions			(34,837,478	)			(200,227,473	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, swaps contracts and translation of assets and liabilities denominated in foreign currencies			6,518,189				(107,628,371	)
Net increase (decrease) in net assets resulting from operations			(19,826,926	)			(290,570,134	)
Distributions to shareholders:
Class A			(3,704,023	)			(56,563,619	)
Class C			(624,642	)			(12,002,250	)
Class F			(2,042,884	)			(119,406,126	)
Class F3			(363,948	)			(5,597,825	)
Class I			(8,195,537	)			(42,873,939	)
Class P			(596	)			(6,769	)
Class R2			(1,221	)			(14,226	)
Class R3			(341,411	)			(5,675,187	)
Class R4			(9,651	)			(145,517	)
Class R5			(30,647	)			(307,889	)
Class R6			(308,172	)			(3,510,782	)
Total distributions to shareholders			(15,622,732	)			(246,104,129	)
Capital share transactions (See Note 16):
Net proceeds from sales of shares			178,598,373				937,344,775
Reinvestment of distributions			14,265,367				221,444,923
Cost of shares reacquired			(402,650,176	)			(1,289,981,030	)
Net increase (decrease) in net assets resulting from capital share transactions			(209,786,436	)			(131,191,332	)
Net increase (decrease) in net assets			(245,236,094	)			(667,865,595	)
NET ASSETS:
Beginning of period		$	940,343,262			$	1,608,208,857
End of period		$	695,107,168			$	940,343,262

340 See Notes to Financial Statements.

	Core Fixed Income Fund								Core Plus Bond Fund
For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022				For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
	$	49,608,789			$	45,202,392			$	23,392,373			$	14,247,279
		(17,096,640	)			(218,595,530	)			(10,621,121	)			(48,095,882	)
		13,499,075				(91,678,089	)			1,194,472				(23,031,313	)
		46,011,224				(265,071,227	)			13,965,724				(56,879,916	)
		(10,546,810	)			(16,573,308	)			(2,679,546	)			(2,779,601	)
		(383,926	)			(564,037	)			(185,692	)			(131,337	)
		(1,773,970	)			(5,697,594	)			(2,242,833	)			(6,146,191	)
		(8,848,912	)			(13,022,012	)			(1,800,611	)			(1,406,782	)
		(28,930,099	)			(24,435,779	)			(18,110,803	)			(6,169,249	)
		–				–				–				–
		(6,925	)			(12,525	)			–				–
		(113,534	)			(197,394	)			(4,342	)			(4,769	)
		(173,272	)			(267,625	)			(6,817	)			(10,410	)
		(42,037	)			(52,412	)			(252	)			(396	)
		(838,903	)			(1,124,724	)			(85,219	)			(101,117	)
		(51,658,388	)			(61,947,410	)			(25,116,115	)			(16,749,852	)
		1,112,332,707				1,098,594,679				909,985,988				852,606,397
		51,422,607				61,392,570				25,034,722				16,621,339
		(600,807,873	)			(722,290,231	)			(336,134,111	)			(529,424,233	)
		562,947,441				437,697,018				598,886,599				339,803,503
		557,300,277				110,678,381				587,736,208				266,173,735
	$	2,158,427,675			$	2,047,749,294			$	672,285,708			$	406,111,973
	$	2,715,727,952			$	2,158,427,675			$	1,260,021,916			$	672,285,708

See Notes to Financial Statements. 341

Statements of Changes in Net Assets (continued)

	Corporate Bond Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2023 (unaudited)			For the Year Ended November 30, 2022
Operations:
Net investment income		$	128,255		$	193,814
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions			(283,442	)		(544,426	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, swap contracts, unfunded commitments and translation of assets and liabilities denominated in foreign currencies			289,596			(965,500	)
Net increase (decrease) in net assets resulting from operations			134,409			(1,316,112	)
Distributions to shareholders:
Class A			(41,294	)		(100,211	)
Class C			(12,241	)		(21,477	)
Class F			(24,696	)		(118,345	)
Class F3			(30,652	)		(85,109	)
Class I			(3,555	)		(6,561	)
Class P			–			–
Class R2			(440	)		(1,273	)
Class R3			(1,778	)		(3,758	)
Class R4			(484	)		(1,371	)
Class R5			(517	)		(1,450	)
Class R6			(31,389	)		(86,866	)
Return of Capital
Class A			–			–
Class C			–			–
Class F			–			–
Class F3			–			–
Class I			–			–
Class P			–			–
Class R2			–			–
Class R3			–			–
Class R4			–			–
Class R5			–			–
Class R6			–			–
Total distributions to shareholders			(147,046	)		(426,421	)
Capital share transactions (See Note 16):
Net proceeds from sales of shares			1,430,660			1,445,810
Reinvestment of distributions			83,296			248,459
Cost of shares reacquired			(1,294,302	)		(4,821,175	)
Net increase (decrease) in net assets resulting from capital share transactions			219,654			(3,126,906	)
Net increase (decrease) in net assets			207,017			(4,869,439	)
NET ASSETS:
Beginning of period		$	6,760,998		$	11,630,437
End of period		$	6,968,015		$	6,760,998

342 See Notes to Financial Statements.

		Floating Rate Fund								High Yield Fund
For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022				For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
	$	232,011,566			$	356,243,384			$	136,059,504			$	310,849,423
		(91,877,686	)			(263,245,087	)			(207,321,675	)			(484,187,775	)
		89,847,737				(251,123,347	)			133,160,008				(590,171,990	)
		229,981,617				(158,125,050	)			61,897,837				(763,510,342	)
		(67,849,241	)			(92,169,705	)			(24,027,136	)			(51,030,954	)
		(14,591,739	)			(19,096,986	)			(4,385,704	)			(10,152,499	)
		(21,915,393	)			(86,019,818	)			(10,220,618	)			(73,034,610	)
		(5,937,985	)			(9,656,542	)			(18,588,111	)			(36,104,232	)
		(110,525,671	)			(137,145,318	)			(54,505,672	)			(97,943,279	)
		–				–				–				(897	)
		(39,736	)			(43,750	)			(136,799	)			(273,365	)
		(2,921,302	)			(3,120,946	)			(2,491,960	)			(5,276,393	)
		(66,620	)			(105,696	)			(2,235,861	)			(4,522,242	)
		(96,126	)			(111,390	)			(6,639,725	)			(13,415,768	)
		(2,773,715	)			(3,926,998	)			(18,274,471	)			(34,928,129	)
		–				–				–				(1,846,382	)
		–				–				–				(367,334	)
		–				–				–				(2,642,510	)
		–				–				–				(1,306,309	)
		–				–				–				(3,543,748	)
		–				–				–				(32	)
		–				–				–				(9,891	)
		–				–				–				(190,908	)
		–				–				–				(163,622	)
		–				–				–				(485,404	)
		–				–				–				(1,263,756	)
		(226,717,528	)			(351,397,149	)			(141,506,057	)			(338,502,264	)
		910,347,697				7,983,304,563				835,069,694				2,878,099,913
		197,179,985				303,246,251				131,998,720				317,039,838
		(2,565,195,735	)			(8,203,729,429	)			(1,332,121,701	)			(4,663,902,869	)
		(1,457,668,053	)			82,821,385				(365,053,287	)			(1,468,763,118	)
		(1,454,403,964	)			(426,700,814	)			(444,661,507	)			(2,570,775,724	)
	$	6,479,418,038			$	6,906,118,852			$	4,697,550,503			$	7,268,326,227
	$	5,025,014,074			$	6,479,418,038			$	4,252,888,996			$	4,697,550,503

See Notes to Financial Statements. 343

Statements of Changes in Net Assets (continued)

	Income Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
Operations:
Net investment income		$	61,212,310			$	94,603,981
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions			(61,949,203	)			(282,449,567	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, swap contracts, unfunded commitments and translation of assets and liabilities denominated in foreign currencies			68,093,483				(285,852,308	)
Net increase (decrease) in net assets resulting from operations			67,356,590				(473,697,894	)
Distributions to shareholders:
Class A			(22,821,728	)			(61,769,431	)
Class C			(920,339	)			(3,189,861	)
Class F			(2,036,974	)			(18,636,742	)
Class F3			(22,977,035	)			(53,890,395	)
Class I			(14,647,871	)			(15,773,712	)
Class R2			(24,560	)			(63,027	)
Class R3			(1,063,526	)			(2,734,526	)
Class R4			(141,501	)			(257,918	)
Class R5			(40,509	)			(271,026	)
Class R6			(1,110,455	)			(3,209,166	)
Total distributions to shareholders			(65,784,498	)			(159,795,804	)
Capital share transactions (See Note 16):
Net proceeds from sales of shares			836,977,707				1,137,446,596
Reinvestment of distributions			62,560,308				150,507,166
Cost of shares reacquired			(450,525,361	)			(1,329,956,952	)
Net increase (decrease) in net assets resulting from capital share transactions			449,012,654				(42,003,190	)
Net increase (decrease) in net assets			450,584,746				(675,496,888	)
NET ASSETS:
Beginning of period		$	2,501,824,795			$	3,177,321,683
End of period		$	2,952,409,541			$	2,501,824,795

344 See Notes to Financial Statements.

Inflation Focused Fund									Short Duration Core Bond Fund
For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022				For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
	$	33,257,678			$	77,915,962			$	7,091,105			$	4,527,347
		(2,376,793	)			(177,008,360	)			(1,250,468	)			(8,695,866	)
		(4,792,147	)			(40,178,298	)			1,524,883				(6,379,611	)
		26,088,738				(139,270,696	)			7,365,520				(10,548,130	)
		(8,166,410	)			(17,567,509	)			(1,655,052	)			(1,283,096	)
		(1,405,301	)			(2,421,356	)			(96,219	)			(85,553	)
		(3,918,378	)			(30,578,500	)			(677,423	)			(1,536,849	)
		(5,537,549	)			(11,574,025	)			(830,122	)			(345,144	)
		(26,740,870	)			(49,925,281	)			(4,351,113	)			(3,328,168	)
		(3,601	)			(3,001	)			–				–
		(10,567	)			(11,573	)			(11,963	)			(9,657	)
		(42,167	)			(52,651	)			(303	)			(299	)
		(11,509	)			(13,710	)			(260	)			(328	)
		(218,859	)			(440,059	)			(17,428	)			(26,265	)
		(46,055,211	)			(112,587,665	)			(7,639,883	)			(6,615,359	)
		314,351,682				3,576,490,242				220,787,077				336,428,557
		44,828,700				110,112,850				7,430,996				6,264,354
		(1,274,813,821	)			(4,517,782,175	)			(95,522,816	)			(273,856,258	)
		(915,633,439	)			(831,179,083	)			132,695,257				68,836,653
		(935,599,912	)			(1,083,037,444	)			132,420,894				51,673,164
	$	2,650,981,493			$	3,734,018,937			$	235,275,199			$	183,602,035
	$	1,715,381,581			$	2,650,981,493			$	367,696,093			$	235,275,199

See Notes to Financial Statements. 345

Statements of Changes in Net Assets (concluded)

	Short Duration Income Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
Operations:
Net investment income		$	914,421,207			$	1,266,197,127
Net realized gain (loss) on investments, futures contracts, forward foreign currency exchange contracts, swap contracts and foreign currency related transactions			(300,031,368	)			(1,913,324,071	)
Net change in unrealized appreciation/depreciation on investments, futures contracts, forward foreign currency exchange contracts, swap contracts, unfunded commitments and translation of assets and liabilities denominated in foreign currencies			469,769,756				(2,353,694,325	)
Net increase (decrease) in net assets resulting from operations			1,084,159,595				(3,000,821,269	)
Distributions to shareholders:
Class A			(190,157,679	)			(333,489,534	)
Class A1			–				–
Class C			(36,468,518	)			(62,222,924	)
Class F			(87,779,393	)			(413,364,645	)
Class F3			(115,365,388	)			(173,531,776	)
Class I			(601,987,090	)			(701,837,319	)
Class P			–				–
Class R2			(119,543	)			(217,975	)
Class R3			(6,932,382	)			(10,136,275	)
Class R4			(3,083,726	)			(4,676,483	)
Class R5			(1,397,893	)			(1,976,912	)
Class R6			(24,788,367	)			(32,917,410	)
Total distributions to shareholders			(1,068,079,979	)			(1,734,371,253	)
Capital share transactions (See Note 16):
Net proceeds from sales of shares			11,028,795,988				39,496,673,430
Reinvestment of distributions			932,522,283				1,500,233,564
Cost of shares reacquired			(15,574,651,795	)			(48,557,667,513	)
Net increase (decrease) in net assets resulting from capital share transactions			(3,613,333,524	)			(7,560,760,519	)
Net increase (decrease) in net assets			(3,597,253,908	)			(12,295,953,041	)
NET ASSETS:
Beginning of period		$	50,559,191,913			$	62,855,144,954
End of period		$	46,961,938,005			$	50,559,191,913

346 See Notes to Financial Statements.

	Total Return Fund									Ultra Short Bond Fund
For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022				For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
	$	63,030,081			$	94,305,952			$	195,058,441			$	185,172,280
		(50,297,347	)			(403,032,699	)			(57,898,639	)			(82,437,217	)
		50,605,542				(220,832,760	)			136,051,956				(218,077,196	)
		63,338,276				(529,559,507	)			273,211,758				(115,342,133	)
		(20,804,305	)			(41,063,513	)			(84,813,414	)			(94,086,125	)
		–				–				(66,316	)			(75,197	)
		(606,633	)			(1,438,131	)			–				–
		(4,044,423	)			(22,666,054	)			(15,056,190	)			(32,900,215	)
		(16,808,708	)			(31,015,832	)			(14,133,056	)			(12,931,462	)
		(19,526,933	)			(22,739,909	)			(79,512,850	)			(50,640,992	)
		(10,372	)			(20,248	)			–				–
		(23,888	)			(45,801	)			–				–
		(559,067	)			(1,102,609	)			–				–
		(641,861	)			(1,293,563	)			–				–
		(477,154	)			(2,576,467	)			(2,881	)			(2,567	)
		(4,368,835	)			(8,550,658	)			(1,205,857	)			(1,211,271	)
		(67,872,179	)			(132,512,785	)			(194,790,564	)			(191,847,829	)
		643,063,372				1,096,644,953				3,086,379,168				10,131,846,342
		63,170,906				124,569,301				180,389,355				177,839,732
		(559,547,472	)			(1,731,640,699	)			(5,082,267,482	)			(16,117,603,459	)
		146,686,806				(510,426,445	)			(1,815,498,959	)			(5,807,917,385	)
		142,152,903				(1,172,498,737	)			(1,737,077,765	)			(6,115,107,347	)
	$	2,978,360,287			$	4,150,859,024			$	11,178,146,681			$	17,293,254,028
	$	3,120,513,190			$	2,978,360,287			$	9,441,068,916			$	11,178,146,681

See Notes to Financial Statements. 347

Financial Highlights (unaudited)

CONVERTIBLE FUND

			Per Share Operating Performance:
			Investment Operations:										Distributions to shareholders from:
	Net asset value, beginning of period			Net invest- ment income (loss)(a)			Net realized and unrealized gain (loss)			Total from invest- ment opera- tions				Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(c)		$ 12.64			$ 0.13			$ (0.44	)		$ (0.31	)			$ (0.23	)	$	–			$ (0.23	)
11/30/2022		19.24			0.20			(3.77	)		(3.57	)			(0.31	)		(2.72	)		(3.03	)
11/30/2021		20.52			0.09			1.68			1.77				(0.19	)		(2.86	)		(3.05	)
11/30/2020		14.15			0.14			7.40			7.54				(0.21	)		(0.96	)		(1.17	)
11/30/2019		13.16			0.21			1.70			1.91				(0.53	)		(0.39	)		(0.92	)
11/30/2018		13.31			0.16			(0.03	)		0.13				(0.28	)		–			(0.28	)
Class C
5/31/2023(c)		12.49			0.09			(0.43	)		(0.34	)			(0.19	)		–			(0.19	)
11/30/2022		19.04			0.10			(3.72	)		(3.62	)			(0.21	)		(2.72	)		(2.93	)
11/30/2021		20.37			(0.04	)		1.66			1.62				(0.09	)		(2.86	)		(2.95	)
11/30/2020		14.05			0.03			7.36			7.39				(0.11	)		(0.96	)		(1.07	)
11/30/2019		13.08			0.12			1.69			1.81				(0.45	)		(0.39	)		(0.84	)
11/30/2018		13.23			0.07			(0.03	)		0.04				(0.19	)		–			(0.19	)
Class F
5/31/2023(c)		12.65			0.13			(0.43	)		(0.30	)			(0.24	)		–			(0.24	)
11/30/2022		19.25			0.19			(3.75	)		(3.56	)			(0.32	)		(2.72	)		(3.04	)
11/30/2021		20.52			0.11			1.68			1.79				(0.20	)		(2.86	)		(3.06	)
11/30/2020		14.15			0.16			7.39			7.55				(0.22	)		(0.96	)		(1.18	)
11/30/2019		13.17			0.22			1.69			1.91				(0.54	)		(0.39	)		(0.93	)
11/30/2018		13.32			0.18			(0.04	)		0.14				(0.29	)		–			(0.29	)
Class F3
5/31/2023(c)		12.81			0.15			(0.46	)		(0.31	)			(0.24	)		–			(0.24	)
11/30/2022		19.44			0.24			(3.81	)		(3.57	)			(0.34	)		(2.72	)		(3.06	)
11/30/2021		20.68			0.15			1.69			1.84				(0.22	)		(2.86	)		(3.08	)
11/30/2020		14.24			0.18			7.46			7.64				(0.24	)		(0.96	)		(1.20	)
11/30/2019		13.25			0.24			1.70			1.94				(0.56	)		(0.39	)		(0.95	)
11/30/2018		13.39			0.20			(0.04	)		0.16				(0.30	)		–			(0.30	)
Class I
5/31/2023(c)		12.76			0.14			(0.45	)		(0.31	)			(0.24	)		–			(0.24	)
11/30/2022		19.39			0.25			(3.82	)		(3.57	)			(0.34	)		(2.72	)		(3.06	)
11/30/2021		20.66			0.13			1.68			1.81				(0.22	)		(2.86	)		(3.08	)
11/30/2020		14.23			0.17			7.46			7.63				(0.24	)		(0.96	)		(1.20	)
11/30/2019		13.24			0.24			1.70			1.94				(0.56	)		(0.39	)		(0.95	)
11/30/2018		13.39			0.19			(0.04	)		0.15				(0.30	)		–			(0.30	)

348 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	12.10		(2.44	)(d)		1.11	(e)		1.11	(e)		2.10	(e)	$	175,699		60	(d)
	12.64		(21.50	)		1.07			1.07			1.44			215,259		165
	19.24		8.83			1.03			1.03			0.47			365,551		154
	20.52		57.67			1.06			1.06			0.86			290,469		138
	14.15		15.80			1.06			1.06			1.59			143,294		161
	13.16		0.94			1.04			1.04			1.21			133,181		213
	11.96		(2.79	)(d)		1.74	(e)		1.74	(e)		1.47	(e)		35,309		60	(d)
	12.49		(21.95	)		1.73			1.74			0.76			42,136		165
	19.04		8.08			1.70			1.70			(0.19	)		79,104		154
	20.37		56.72			1.70			1.70			0.21			64,570		138
	14.05		15.00			1.70			1.70			0.94			41,278		161
	13.08		0.27			1.69			1.69			0.56			38,615		213
	12.11		(2.40	)(d)		1.01	(e)		1.01	(e)		2.13	(e)		46,794		60	(d)
	12.65		(21.43	)		0.97			0.98			1.34			137,175		165
	19.25		8.98			0.93			0.93			0.59			804,859		154
	20.52		57.83			0.96			0.96			0.96			625,813		138
	14.15		15.92			0.96			0.96			1.69			173,878		161
	13.17		0.95			0.94			0.94			1.32			201,325		213
	12.26		(2.38	)(d)		0.81	(e)		0.81	(e)		2.40	(e)		16,640		60	(d)
	12.81		(21.25	)		0.79			0.79			1.70			19,538		165
	19.44		9.18			0.75			0.75			0.77			37,889		154
	20.68		58.11			0.80			0.80			1.12			23,424		138
	14.24		16.02			0.83			0.83			1.81			8,030		161
	13.25		1.12			0.81			0.81			1.47			6,635		213
	12.21		(2.39	)(d)		0.91	(e)		0.91	(e)		2.30	(e)		389,777		60	(d)
	12.76		(21.33	)		0.86			0.87			1.86			487,218		165
	19.39		9.02			0.82			0.82			0.68			259,180		154
	20.66		58.08			0.86			0.86			1.05			340,178		138
	14.23		15.94			0.86			0.86			1.82			307,308		161
	13.24		1.12			0.84			0.84			1.40			469,350		213

See Notes to Financial Statements. 349

Financial Highlights (unaudited)(continued)

CONVERTIBLE FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period			Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions				Net investment income			Net realized gain			Total distri- butions
Class P
5/31/2023(c)		$ 12.97			$ 0.12		$ (0.46	)		$ (0.34	)			$ (0.22	)	$	–			$ (0.22	)
11/30/2022		19.65			0.17		(3.86	)		(3.69	)			(0.27	)		(2.72	)		(2.99	)
11/30/2021		20.88			0.05		1.70			1.75				(0.12	)		(2.86	)		(2.98	)
11/30/2020		14.37			0.09		7.55			7.64				(0.17	)		(0.96	)		(1.13	)
11/30/2019		13.36			0.18		1.72			1.90				(0.50	)		(0.39	)		(0.89	)
11/30/2018		13.51			0.13		(0.04	)		0.09				(0.24	)		–			(0.24	)
Class R2
5/31/2023(c)		12.95			0.11		(0.45	)		(0.34	)			(0.21	)		–			(0.21	)
11/30/2022		19.63			0.15		(3.86	)		(3.71	)			(0.25	)		(2.72	)		(2.97	)
11/30/2021		20.88			0.02		1.71			1.73				(0.12	)		(2.86	)		(2.98	)
11/30/2020		14.37			0.07		7.54			7.61				(0.14	)		(0.96	)		(1.10	)
11/30/2019		13.35			0.17		1.71			1.88				(0.47	)		(0.39	)		(0.86	)
11/30/2018		13.49			0.11		(0.03	)		0.08				(0.22	)		–			(0.22	)
Class R3
5/31/2023(c)		12.55			0.11		(0.44	)		(0.33	)			(0.21	)		–			(0.21	)
11/30/2022		19.12			0.16		(3.75	)		(3.59	)			(0.26	)		(2.72	)		(2.98	)
11/30/2021		20.41			0.04		1.66			1.70				(0.13	)		(2.86	)		(2.99	)
11/30/2020		14.08			0.09		7.37			7.46				(0.17	)		(0.96	)		(1.13	)
11/30/2019		13.11			0.17		1.68			1.85				(0.49	)		(0.39	)		(0.88	)
11/30/2018		13.26			0.13		(0.04	)		0.09				(0.24	)		–			(0.24	)
Class R4
5/31/2023(c)		12.64			0.13		(0.44	)		(0.31	)			(0.23	)		–			(0.23	)
11/30/2022		19.24			0.19		(3.77	)		(3.58	)			(0.30	)		(2.72	)		(3.02	)
11/30/2021		20.52			0.09		1.67			1.76				(0.18	)		(2.86	)		(3.04	)
11/30/2020		14.14			0.14		7.40			7.54				(0.20	)		(0.96	)		(1.16	)
11/30/2019		13.16			0.20		1.70			1.90				(0.53	)		(0.39	)		(0.92	)
11/30/2018		13.31			0.16		(0.04	)		0.12				(0.27	)		–			(0.27	)
Class R5
5/31/2023(c)		12.76			0.14		(0.45	)		(0.31	)			(0.24	)		–			(0.24	)
11/30/2022		19.39			0.24		(3.81	)		(3.57	)			(0.34	)		(2.72	)		(3.06	)
11/30/2021		20.65			0.14		1.68			1.82				(0.22	)		(2.86	)		(3.08	)
11/30/2020		14.23			0.17		7.45			7.62				(0.24	)		(0.96	)		(1.20	)
11/30/2019		13.24			0.23		1.71			1.94				(0.56	)		(0.39	)		(0.95	)
11/30/2018		13.38			0.19		(0.03	)		0.16				(0.30	)		–			(0.30	)

350 See Notes to Financial Statements.

					Ratios to Average Net Assets:										Supplemental Data:
Net asset value, end of period		Total return(b) (%)				Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	12.41		(2.65	)(d)			1.36	(e)		1.36	(e)		1.86	(e)	$	35		60	(d)
	12.97		(21.65	)			1.32			1.32			1.24			36		165
	19.65		8.57				1.27			1.27			0.23			43		154
	20.88		57.33				1.31			1.31			0.60			74		138
	14.37		15.43				1.31			1.31			1.33			70		161
	13.36		0.68				1.29			1.29			0.96			59		213
	12.40		(2.65	)(d)			1.51	(e)		1.51	(e)		1.71	(e)		76		60	(d)
	12.95		(21.80	)			1.46			1.47			1.09			76		165
	19.63		8.43				1.42			1.42			0.10			94		154
	20.88		57.05				1.46			1.46			0.45			46		138
	14.37		15.27				1.45			1.45			1.23			56		161
	13.35		0.57				1.44			1.44			0.79			70		213
	12.01		(2.60	)(d)			1.41	(e)		1.41	(e)		1.81	(e)		18,418		60	(d)
	12.55		(21.73	)			1.37			1.38			1.12			20,448		165
	19.12		8.52				1.33			1.33			0.19			36,483		154
	20.41		57.25				1.36			1.36			0.56			25,311		138
	14.08		15.37				1.36			1.36			1.28			10,420		161
	13.11		0.65				1.34			1.34			0.94			8,548		213
	12.10		(2.46	)(d)			1.16	(e)		1.16	(e)		2.06	(e)		478		60	(d)
	12.64		(21.54	)			1.12			1.12			1.40			609		165
	19.24		8.80				1.08			1.08			0.44			919		154
	20.52		57.67				1.13			1.13			0.86			418		138
	14.14		15.68				1.11			1.11			1.53			88		161
	13.16		0.88				1.09			1.09			1.17			64		213
	12.21		(2.39	)(d)			0.91	(e)		0.91	(e)		2.32	(e)		1,603		60	(d)
	12.76		(21.32	)			0.86			0.87			1.70			1,578		165
	19.39		9.08				0.83			0.83			0.69			1,905		154
	20.65		58.01				0.86			0.86			1.05			1,314		138
	14.23		16.03				0.86			0.87			1.70			843		161
	13.24		1.10				0.83			0.83			1.43			150		213

See Notes to Financial Statements. 351

Financial Highlights (unaudited)(continued)

CONVERTIBLE FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period			Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R6
5/31/2023(c)		$ 12.81			$ 0.15		$ (0.45	)		$ (0.30	)		$ (0.24	)	$	–			$ (0.24	)
11/30/2022		19.44			0.24		(3.81	)		(3.57	)		(0.34	)		(2.72	)		(3.06	)
11/30/2021		20.69			0.15		1.68			1.83			(0.22	)		(2.86	)		(3.08	)
11/30/2020		14.25			0.17		7.47			7.64			(0.24	)		(0.96	)		(1.20	)
11/30/2019		13.25			0.24		1.71			1.95			(0.56	)		(0.39	)		(0.95	)
11/30/2018		13.39			0.19		(0.03	)		0.16			(0.30	)		–			(0.30	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.

352 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	12.27		(2.30	)(d)		0.81	(e)		0.81	(e)		2.41	(e)	$	10,279		60	(d)
	12.81		(21.26	)		0.79			0.80			1.75			16,269		165
	19.44		9.12			0.75			0.75			0.79			22,182		154
	20.69		58.08			0.80			0.80			1.11			5,665		138
	14.25		16.01			0.83			0.83			1.77			5,198		161
	13.25		1.20			0.81			0.81			1.39			4,558		213

See Notes to Financial Statements. 353

Financial Highlights (unaudited)(continued)

CORE FIXED INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(c)		$ 9.34		$ 0.19		$ (0.02	)		$ 0.17			$ (0.19	)	$	–			$ (0.19	)
11/30/2022		11.14		0.21		(1.70	)		(1.49	)		(0.27	)		(0.04	)		(0.31	)
11/30/2021		11.69		0.11		(0.15	)		(0.04	)		(0.14	)		(0.37	)		(0.51	)
11/30/2020		11.10		0.19		0.62			0.81			(0.22	)		–			(0.22	)
11/30/2019		10.38		0.25		0.76			1.01			(0.29	)		–			(0.29	)
11/30/2018		10.87		0.25		(0.43	)		(0.18	)		(0.31	)		–			(0.31	)
Class C
5/31/2023(c)		9.30		0.16		(0.01	)		0.15			(0.17	)		–			(0.17	)
11/30/2022		11.08		0.15		(1.69	)		(1.54	)		(0.20	)		(0.04	)		(0.24	)
11/30/2021		11.63		0.04		(0.15	)		(0.11	)		(0.07	)		(0.37	)		(0.44	)
11/30/2020		11.05		0.12		0.61			0.73			(0.15	)		–			(0.15	)
11/30/2019		10.34		0.18		0.75			0.93			(0.22	)		–			(0.22	)
11/30/2018		10.82		0.18		(0.41	)		(0.23	)		(0.25	)		–			(0.25	)
Class F
5/31/2023(c)		9.34		0.19		(0.01	)		0.18			(0.20	)		–			(0.20	)
11/30/2022		11.13		0.19		(1.66	)		(1.47	)		(0.28	)		(0.04	)		(0.32	)
11/30/2021		11.68		0.12		(0.15	)		(0.03	)		(0.15	)		(0.37	)		(0.52	)
11/30/2020		11.10		0.19		0.62			0.81			(0.23	)		–			(0.23	)
11/30/2019		10.38		0.26		0.76			1.02			(0.30	)		–			(0.30	)
11/30/2018		10.87		0.26		(0.43	)		(0.17	)		(0.32	)		–			(0.32	)
Class F3
5/31/2023(c)		9.34		0.20		(0.01	)		0.19			(0.21	)		–			(0.21	)
11/30/2022		11.13		0.24		(1.70	)		(1.46	)		(0.29	)		(0.04	)		(0.33	)
11/30/2021		11.69		0.14		(0.16	)		(0.02	)		(0.17	)		(0.37	)		(0.54	)
11/30/2020		11.10		0.22		0.62			0.84			(0.25	)		–			(0.25	)
11/30/2019		10.38		0.28		0.76			1.04			(0.32	)		–			(0.32	)
11/30/2018		10.87		0.28		(0.43	)		(0.15	)		(0.34	)		–			(0.34	)
Class I
5/31/2023(c)		9.33		0.20		–	(f)		0.20			(0.21	)		–			(0.21	)
11/30/2022		11.13		0.26		(1.73	)		(1.47	)		(0.29	)		(0.04	)		(0.33	)
11/30/2021		11.68		0.14		(0.15	)		(0.01	)		(0.17	)		(0.37	)		(0.54	)
11/30/2020		11.10		0.21		0.62			0.83			(0.25	)		–			(0.25	)
11/30/2019		10.38		0.27		0.76			1.03			(0.31	)		–			(0.31	)
11/30/2018		10.86		0.28		(0.42	)		(0.14	)		(0.34	)		–			(0.34	)
Class R2
5/31/2023(c)		9.34		0.17		(0.01	)		0.16			(0.18	)		–			(0.18	)
11/30/2022		11.14		0.17		(1.70	)		(1.53	)		(0.23	)		(0.04	)		(0.27	)
11/30/2021		11.69		0.07		(0.15	)		(0.08	)		(0.10	)		(0.37	)		(0.47	)
11/30/2020		11.10		0.14		0.63			0.77			(0.18	)		–			(0.18	)
11/30/2019		10.38		0.21		0.75			0.96			(0.24	)		–			(0.24	)
11/30/2018		10.87		0.21		(0.43	)		(0.22	)		(0.27	)		–			(0.27	)

354 See Notes to Financial Statements.

					Ratios to Average Net Assets:										Supplemental Data:
Net asset value, end of period		Total return(b) (%)				Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	9.32		1.87	(d)			0.55	(e)		0.55	(e)		3.98	(e)	$	580,849		279	(d)
	9.34		(13.54	)			0.57			0.57			2.14			476,618		541
	11.14		(0.30	)			0.58			0.58			1.01			646,894		492
	11.69		7.40				0.60			0.60			1.63			677,401		589
	11.10		9.79				0.64			0.64			2.30			492,702		836
	10.38		(1.64	)			0.62			0.69			2.36			405,998		615
	9.28		1.56	(d)			1.16	(e)		1.16	(e)		3.38	(e)		23,878		279	(d)
	9.30		(13.97	)			1.19			1.19			1.50			19,226		541
	11.08		(0.96	)			1.22			1.22			0.38			29,523		492
	11.63		6.66				1.22			1.22			1.01			49,939		589
	11.05		9.05				1.25			1.25			1.70			42,376		836
	10.34		(2.18	)			1.25			1.32			1.72			41,820		615
	9.32		1.92	(d)			0.45	(e)		0.45	(e)		4.05	(e)		76,488		279	(d)
	9.34		(13.37	)			0.48			0.48			1.89			81,612		541
	11.13		(0.21	)			0.48			0.48			1.11			342,050		492
	11.68		7.41				0.49			0.49			1.70			371,706		589
	11.10		9.89				0.54			0.54			2.37			214,720		836
	10.38		(1.54	)			0.52			0.60			2.43			128,716		615
	9.32		2.00	(d)			0.30	(e)		0.30	(e)		4.23	(e)		456,651		279	(d)
	9.34		(13.23	)			0.31			0.31			2.43			362,923		541
	11.13		(0.12	)			0.30			0.30			1.28			442,421		492
	11.69		7.69				0.32			0.32			1.90			399,915		589
	11.10		10.09				0.35			0.35			2.58			307,972		836
	10.38		(1.38	)			0.34			0.41			2.63			237,638		615
	9.32		2.10	(d)			0.31	(e)		0.35	(e)		4.22	(e)		1,520,279		279	(d)
	9.33		(13.34	)			0.33			0.37			2.68			1,165,866		541
	11.13		(0.07	)			0.34			0.38			1.25			534,313		492
	11.68		7.56				0.35			0.39			1.87			493,395		589
	11.10		10.04				0.40			0.44			2.50			364,812		836
	10.38		(1.33	)			0.39			0.48			2.60			194,836		615
	9.32		1.67	(d)			0.95	(e)		0.95	(e)		3.58	(e)		363		279	(d)
	9.34		(13.88	)			0.97			0.98			1.65			368		541
	11.14		(0.70	)			0.98			0.98			0.60			850		492
	11.69		6.97				1.00			1.00			1.26			445		589
	11.10		9.35				1.04			1.04			1.93			532		836
	10.38		(2.03	)			1.02			1.10			1.95			632		615

See Notes to Financial Statements. 355

Financial Highlights (unaudited)(continued)

CORE FIXED INCOME FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period			Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions				Net investment income			Net realized gain			Total distri- butions
Class R3
5/31/2023(c)		$ 9.34			$ 0.17		$ (0.01	)		$ 0.16				$ (0.18	)	$	–			$ (0.18	)
11/30/2022		11.14			0.18		(1.70	)		(1.52	)			(0.24	)		(0.04	)		(0.28	)
11/30/2021		11.69			0.08		(0.15	)		(0.07	)			(0.11	)		(0.37	)		(0.48	)
11/30/2020		11.10			0.15		0.63			0.78				(0.19	)		–			(0.19	)
11/30/2019		10.38			0.22		0.75			0.97				(0.25	)		–			(0.25	)
11/30/2018		10.87			0.22		(0.43	)		(0.21	)			(0.28	)		–			(0.28	)
Class R4
5/31/2023(c)		9.34			0.18		(0.01	)		0.17				(0.19	)		–			(0.19	)
11/30/2022		11.13			0.21		(1.70	)		(1.49	)			(0.26	)		(0.04	)		(0.30	)
11/30/2021		11.68			0.11		(0.15	)		(0.04	)			(0.14	)		(0.37	)		(0.51	)
11/30/2020		11.10			0.18		0.62			0.80				(0.22	)		–			(0.22	)
11/30/2019		10.38			0.24		0.76			1.00				(0.28	)		–			(0.28	)
11/30/2018		10.87			0.25		(0.43	)		(0.18	)			(0.31	)		–			(0.31	)
Class R5
5/31/2023(c)		9.34			0.20		(0.02	)		0.18				(0.20	)		–			(0.20	)
11/30/2022		11.14			0.25		(1.72	)		(1.47	)			(0.29	)		(0.04	)		(0.33	)
11/30/2021		11.69			0.13		(0.14	)		(0.01	)			(0.17	)		(0.37	)		(0.54	)
11/30/2020		11.10			0.21		0.63			0.84				(0.25	)		–			(0.25	)
11/30/2019		10.38			0.27		0.76			1.03				(0.31	)		–			(0.31	)
11/30/2018		10.87			0.27		(0.43	)		(0.16	)			(0.33	)		–			(0.33	)
Class R6
5/31/2023(c)		9.34			0.20		(0.01	)		0.19				(0.21	)		–			(0.21	)
11/30/2022		11.13			0.25		(1.71	)		(1.46	)			(0.29	)		(0.04	)		(0.33	)
11/30/2021		11.68			0.14		(0.15	)		(0.01	)			(0.17	)		(0.37	)		(0.54	)
11/30/2020		11.10			0.22		0.62			0.84				(0.26	)		–			0.26
11/30/2019		10.38			0.28		0.76			1.04				(0.32	)		–			(0.32	)
11/30/2018		10.86			0.28		(0.42	)		(0.14	)			(0.34	)		–			(0.34	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Amount less than $0.01.

356 See Notes to Financial Statements.

					Ratios to Average Net Assets:										Supplemental Data:
Net asset value, end of period		Total return(b) (%)				Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	9.32		1.72	(d)			0.85	(e)		0.85	(e)		3.68	(e)	$	5,940		279	(d)
	9.34		(13.80	)			0.87			0.88			1.79			5,914		541
	11.14		(0.60	)			0.88			0.88			0.71			9,264		492
	11.69		7.08				0.90			0.90			1.35			11,473		589
	11.10		9.46				0.94			0.94			2.02			11,736		836
	10.38		(1.94	)			0.92			0.99			2.05			11,965		615
	9.32		1.85	(d)			0.60	(e)		0.60	(e)		3.94	(e)		8,916		279	(d)
	9.34		(13.50	)			0.62			0.62			2.10			8,047		541
	11.13		(0.36	)			0.63			0.63			0.96			10,587		492
	11.68		7.26				0.65			0.65			1.58			10,750		589
	11.10		9.73				0.69			0.69			2.25			7,553		836
	10.38		(1.69	)			0.67			0.73			2.34			8,196		615
	9.32		1.98	(d)			0.35	(e)		0.35	(e)		4.19	(e)		1,816		279	(d)
	9.34		(13.36	)			0.37			0.37			2.51			1,782		541
	11.14		(0.10	)			0.38			0.38			1.20			1,443		492
	11.69		7.61				0.40			0.40			1.86			1,053		589
	11.10		10.01				0.44			0.44			2.50			1,370		836
	10.38		(1.44	)			0.42			0.48			2.58			811		615
	9.32		2.11	(d)			0.30	(e)		0.30	(e)		4.24	(e)		40,548		279	(d)
	9.34		(13.32	)			0.31			0.31			2.52			36,072		541
	11.13		(0.03	)			0.30			0.30			1.29			30,405		492
	11.68		7.60				0.32			0.32			1.95			32,940		589
	11.10		10.10				0.35			0.35			2.60			42,495		836
	10.38		(1.28	)			0.34			0.41			2.65			42,302		615

See Notes to Financial Statements. 357

Financial Highlights (unaudited)(continued)

CORE PLUS BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(c)		$12.87		$0.28		$(0.04	)		$ 0.24			$(0.30	)		$      –			$(0.30	)
11/30/2022		15.38		0.40		(2.44	)		(2.04	)		(0.46	)		(0.01	)		(0.47	)
11/30/2021		15.78		0.33		(0.14	)		0.19			(0.42	)		(0.17	)		(0.59	)
11/30/2020		15.39		0.38		0.61			0.99			(0.50	)		(0.10	)		(0.60	)
11/30/2019		14.41		0.42		1.06			1.48			(0.50	)		–			(0.50	)
11/30/2018		15.14		0.47		(0.64	)		(0.17	)		(0.56	)		–			(0.56	)
Class C
5/31/2023(c)		12.87		0.24		(0.03	)		0.21			(0.26	)		–			(0.26	)
11/30/2022		15.38		0.31		(2.44	)		(2.13	)		(0.37	)		(0.01	)		(0.38	)
11/30/2021		15.78		0.23		(0.14	)		0.09			(0.32	)		(0.17	)		(0.49	)
11/30/2020		15.39		0.27		0.61			0.88			(0.39	)		(0.10	)		(0.49	)
11/30/2019		14.42		0.31		1.06			1.37			(0.40	)		–			(0.40	)
11/30/2018		15.15		0.37		(0.64	)		(0.27	)		(0.46	)		–			(0.46	)
Class F
5/31/2023(c)		12.86		0.28		(0.03	)		0.25			(0.31	)		–			(0.31	)
11/30/2022		15.36		0.39		(2.40	)		(2.01	)		(0.48	)		(0.01	)		(0.49	)
11/30/2021		15.76		0.34		(0.14	)		0.20			(0.43	)		(0.17	)		(0.60	)
11/30/2020		15.38		0.39		0.60			0.99			(0.51	)		(0.10	)		(0.61	)
11/30/2019		14.41		0.41		1.07			1.48			(0.51	)		–			(0.51	)
11/30/2018		15.14		0.48		(0.64	)		(0.16	)		(0.57	)		–			(0.57	)
Class F3
5/31/2023(c)		12.87		0.30		(0.04	)		0.26			(0.32	)		–			(0.32	)
11/30/2022		15.37		0.44		(2.42	)		(1.98	)		(0.51	)		(0.01	)		(0.52	)
11/30/2021		15.77		0.36		(0.13	)		0.23			(0.46	)		(0.17	)		(0.63	)
11/30/2020		15.40		0.42		0.59			1.01			(0.54	)		(0.10	)		(0.64	)
11/30/2019		14.42		0.47		1.04			1.51			(0.53	)		–			(0.53	)
11/30/2018		15.15		0.52		(0.65	)		(0.13	)		(0.60	)		–			(0.60	)
Class I
5/31/2023(c)		12.86		0.30		(0.04	)		0.26			(0.32	)		–			(0.32	)
11/30/2022		15.37		0.47		(2.48	)		(2.01	)		(0.49	)		(0.01	)		(0.50	)
11/30/2021		15.77		0.37		(0.15	)		0.22			(0.45	)		(0.17	)		(0.62	)
11/30/2020		15.39		0.41		0.60			1.01			(0.53	)		(0.10	)		(0.63	)
11/30/2019		14.41		0.40		1.11			1.51			(0.53	)		–			(0.53	)
11/30/2018		15.14		0.50		(0.64	)		(0.14	)		(0.59	)		–			(0.59	)
Class R3
5/31/2023(c)		12.86		0.27		(0.04	)		0.23			(0.28	)		–			(0.28	)
11/30/2022		15.37		0.36		(2.44	)		(2.08	)		(0.42	)		(0.01	)		(0.43	)
11/30/2021		15.77		0.28		(0.14	)		0.14			(0.37	)		(0.17	)		(0.54	)
11/30/2020		15.39		0.34		0.59			0.93			(0.45	)		(0.10	)		(0.55	)
11/30/2019		14.41		0.37		1.07			1.44			(0.46	)		–			(0.46	)
11/30/2018		15.13		0.43		(0.64	)		(0.21	)		(0.51	)		–			(0.51	)

358 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	$12.81		1.90	(d)		0.62	(e)		0.62	(e)		4.39	(e)	$	125,407		261	(d)
	12.87		(13.38	)		0.68			0.69			2.93			92,635		407
	15.38		1.23			0.68			0.73			2.12			76,162		258
	15.78		6.57			0.68			0.80			2.46			57,837		443
	15.39		10.39			0.68			1.12			2.74			24,429		598
	14.41		(1.16	)		0.68			2.45			3.18			6,283		468
	12.82		1.65	(d)		1.27	(e)		1.27	(e)		3.77	(e)		11,229		261	(d)
	12.87		(13.94	)		1.33			1.34			2.23			5,380		407
	15.38		0.57			1.33			1.38			1.50			5,550		258
	15.78		5.83			1.38			1.50			1.77			5,846		443
	15.39		9.63			1.32			1.70			2.03			3,992		598
	14.42		(1.83	)		1.36			3.12			2.51			603		468
	12.80		1.95	(d)		0.52	(e)		0.52	(e)		4.41	(e)		47,961		261	(d)
	12.86		(13.25	)		0.58			0.59			2.78			111,760		407
	15.36		1.32			0.58			0.62			2.18			274,812		258
	15.76		6.61			0.58			0.70			2.56			181,474		443
	15.38		10.41			0.58			0.89			2.71			157,901		598
	14.41		(1.07	)		0.58			2.35			3.28			5,774		468
	12.81		2.02	(d)		0.38	(e)		0.38	(e)		4.64	(e)		94,897		261	(d)
	12.87		(13.06	)		0.39			0.40			3.22			47,207		407
	15.37		1.51			0.38			0.43			2.32			34,554		258
	15.77		6.69			0.39			0.50			2.74			8,558		443
	15.40		10.63			0.46			0.98			3.11			11		598
	14.42		(0.83	)		0.43			2.12			3.46			10		468
	12.80		2.00	(d)		0.42	(e)		0.42	(e)		4.62	(e)		976,059		261	(d)
	12.86		(13.21	)		0.48			0.48			3.58			411,464		407
	15.37		1.42			0.48			0.54			2.40			13,423		258
	15.77		6.71			0.48			0.61			2.66			35,271		443
	15.39		10.61			0.47			0.70			2.62			13,782		598
	14.41		(0.95	)		0.47			2.25			3.40			108		468
	12.81		1.83	(d)		0.91	(e)		0.91	(e)		4.13	(e)		228		261	(d)
	12.86		(13.64	)		0.98			0.99			2.60			155		407
	15.37		0.93			0.98			1.03			1.84			159		258
	15.77		6.19			0.98			1.09			2.19			124		443
	15.39		10.09			0.95			1.47			2.43			188		598
	14.41		(1.45	)		0.97			2.75			2.88			27		468

See Notes to Financial Statements. 359

Financial Highlights (unaudited)(continued)

CORE PLUS BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R4
5/31/2023(c)		$12.87		$0.28		$(0.03	)		$ 0.25			$(0.30	)		$      –			$(0.30	)
11/30/2022		15.37		0.38		(2.41	)		(2.03	)		(0.46	)		(0.01	)		(0.47	)
11/30/2021		15.77		0.32		(0.14	)		0.18			(0.41	)		(0.17	)		(0.58	)
11/30/2020		15.39		0.37		0.60			0.97			(0.49	)		(0.10	)		(0.59	)
11/30/2019		14.41		0.43		1.04			1.47			(0.49	)		–			(0.49	)
11/30/2018		15.14		0.46		(0.64	)		(0.18	)		(0.55	)		–			(0.55	)
Class R5
5/31/2023(c)		12.87		0.30		(0.03	)		0.27			(0.32	)		–			(0.32	)
11/30/2022		15.38		0.43		(2.44	)		(2.01	)		(0.49	)		(0.01	)		(0.50	)
11/30/2021		15.77		0.36		(0.13	)		0.23			(0.45	)		(0.17	)		(0.62	)
11/30/2020		15.39		0.41		0.60			1.01			(0.53	)		(0.10	)		(0.63	)
11/30/2019		14.41		0.47		1.04			1.51			(0.53	)		–			(0.53	)
11/30/2018		15.14		0.50		(0.64	)		(0.14	)		(0.59	)		–			(0.59	)
Class R6
5/31/2023(c)		12.87		0.30		(0.03	)		0.27			(0.32	)		–			(0.32	)
11/30/2022		15.38		0.46		(2.46	)		(2.00	)		(0.50	)		(0.01	)		(0.51	)
11/30/2021		15.78		0.38		(0.14	)		0.24			(0.47	)		(0.17	)		(0.64	)
11/30/2020		15.39		0.43		0.60			1.03			(0.54	)		(0.10	)		(0.64	)
11/30/2019		14.41		0.47		1.04			1.51			(0.53	)		–			(0.53	)
11/30/2018		15.14		0.50		(0.64	)		(0.14	)		(0.59	)		–			(0.59	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.

360 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	$12.82		1.95	(d)		0.67	(e)		0.67	(e)		4.33	(e)	$	285		261	(d)
	12.87		(13.36	)		0.73			0.74			2.76			295		407
	15.37		1.18			0.73			0.77			2.06			379		258
	15.77		6.45			0.73			0.86			2.39			266		443
	15.39		10.35			0.73			1.31			2.84			30		598
	14.41		(1.21	)		0.72			2.50			3.13			27		468
	12.82		2.08	(d)		0.39	(e)		0.39	(e)		4.60	(e)		10		261	(d)
	12.87		(13.19	)		0.46			0.46			3.09			10		407
	15.38		1.49			0.48			0.50			2.35			11		258
	15.77		6.72			0.48			0.57			2.69			12		443
	15.39		10.63			0.48			1.06			3.10			30		598
	14.41		(0.97	)		0.47			2.25			3.38			27		468
	12.82		2.10	(d)		0.38	(e)		0.38	(e)		4.63	(e)		3,946		261	(d)
	12.87		(13.12	)		0.39			0.40			3.42			3,380		407
	15.38		1.53			0.38			0.44			2.44			1,061		258
	15.78		6.86			0.39			0.51			2.78			918		443
	15.39		10.65			0.46			1.00			3.11			30		598
	14.41		(0.93	)		0.44			2.24			3.42			27		468

See Notes to Financial Statements. 361

Financial Highlights (unaudited)(continued)

CORPORATE BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(c)		$  8.26		$0.15		$ 0.02			$ 0.17			$(0.17	)		$      –			$(0.17	)
11/30/2022		10.39		0.24		(1.88	)		(1.64	)		(0.31	)		(0.18	)		(0.49	)
11/30/2021		10.78		0.21		(0.11	)		0.10			(0.31	)		(0.18	)		(0.49	)
11/30/2020		10.23		0.26		0.64			0.90			(0.35	)		–			(0.35	)
11/30/2019		9.32		0.31		0.99			1.30			(0.39	)		–			(0.39	)
11/30/2018		10.06		0.31		(0.64	)		(0.33	)		(0.40	)		(0.01	)		(0.41	)
Class C
5/31/2023(c)		8.26		0.13		0.03			0.16			(0.15	)		–			(0.15	)
11/30/2022		10.38		0.18		(1.87	)		(1.69	)		(0.25	)		(0.18	)		(0.43	)
11/30/2021		10.77		0.15		(0.12	)		0.03			(0.24	)		(0.18	)		(0.42	)
11/30/2020		10.23		0.20		0.62			0.82			(0.28	)		–			(0.28	)
11/30/2019		9.32		0.24		0.99			1.23			(0.32	)		–			(0.32	)
11/30/2018		10.06		0.23		(0.63	)		(0.40	)		(0.33	)		(0.01	)		(0.34	)
Class F
5/31/2023(c)		8.28		0.16		0.02			0.18			(0.18	)		–			(0.18	)
11/30/2022		10.40		0.24		(1.86	)		(1.62	)		(0.32	)		(0.18	)		(0.50	)
11/30/2021		10.79		0.23		(0.12	)		0.11			(0.32	)		(0.18	)		(0.50	)
11/30/2020		10.25		0.27		0.63			0.90			(0.36	)		–			(0.36	)
11/30/2019		9.34		0.32		0.99			1.31			(0.40	)		–			(0.40	)
11/30/2018		10.08		0.31		(0.63	)		(0.32	)		(0.41	)		(0.01	)		(0.42	)
Class F3
5/31/2023(c)		8.26		0.16		0.03			0.19			(0.19	)		–			(0.19	)
11/30/2022		10.39		0.26		(1.88	)		(1.62	)		(0.33	)		(0.18	)		(0.51	)
11/30/2021		10.78		0.24		(0.11	)		0.13			(0.34	)		(0.18	)		(0.52	)
11/30/2020		10.23		0.30		0.62			0.92			(0.37	)		–			(0.37	)
11/30/2019		9.32		0.34		0.98			1.32			(0.41	)		–			(0.41	)
11/30/2018		10.06		0.34		(0.64	)		(0.30	)		(0.43	)		(0.01	)		(0.44	)
Class I
5/31/2023(c)		8.26		0.16		0.02			0.18			(0.18	)		–			(0.18	)
11/30/2022		10.38		0.26		(1.87	)		(1.61	)		(0.33	)		(0.18	)		(0.51	)
11/30/2021		10.77		0.24		(0.12	)		0.12			(0.33	)		(0.18	)		(0.51	)
11/30/2020		10.23		0.30		0.61			0.91			(0.37	)		–			(0.37	)
11/30/2019		9.32		0.33		0.98			1.31			(0.40	)		–			(0.40	)
11/30/2018		10.06		0.32		(0.63	)		(0.31	)		(0.42	)		(0.01	)		(0.43	)
Class R2
5/31/2023(c)		8.26		0.14		0.02			0.16			(0.16	)		–			(0.16	)
11/30/2022		10.39		0.20		(1.88	)		(1.68	)		(0.27	)		(0.18	)		(0.45	)
11/30/2021		10.77		0.18		(0.11	)		0.07			(0.27	)		(0.18	)		(0.45	)
11/30/2020		10.23		0.23		0.62			0.85			(0.31	)		–			(0.31	)
11/30/2019		9.32		0.27		0.99			1.26			(0.35	)		–			(0.35	)
11/30/2018		10.06		0.27		(0.64	)		(0.37	)		(0.36	)		(0.01	)		(0.37	)

362 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	8.26		2.11	(d)		0.68	(e)		4.12	(e)		3.65	(e)	$	2,244		84	(d)
	8.26		(16.19	)		0.68			3.85			2.63			1,521		115
	10.39		0.95			0.68			2.67			2.06			2,547		111
	10.78		8.95			0.68			3.24			2.53			2,157		119
	10.23		14.12			0.68			4.25			3.12			769		54
	9.32		(3.36	)		0.68			4.54			3.17			368		109
	8.27		1.81	(d)		1.29	(e)		4.62	(e)		3.00	(e)		339		84	(d)
	8.26		(16.64	)		1.32			4.51			2.03			1,035		115
	10.38		0.29			1.35			3.35			1.43			547		111
	10.77		8.12			1.36			4.13			1.96			791		119
	10.23		13.38			1.33			4.78			2.43			597		54
	9.32		(4.07	)		1.43			5.17			2.39			71		109
	8.28		2.16	(d)		0.58	(e)		3.99	(e)		3.75	(e)		1,210		84	(d)
	8.28		(15.98	)		0.58			3.68			2.66			1,181		115
	10.40		1.06			0.58			2.58			2.17			4,660		111
	10.79		8.95			0.58			3.17			2.64			3,991		119
	10.25		14.20			0.58			4.20			3.22			2,764		54
	9.34		(3.26	)		0.58			4.20			3.21			1,501		109
	8.26		2.24	(d)		0.42	(e)		3.84	(e)		3.91	(e)		1,369		84	(d)
	8.26		(15.99	)		0.44			3.60			2.92			1,368		115
	10.39		1.20			0.44			2.45			2.32			1,770		111
	10.78		9.22			0.45			3.21			2.88			1,837		119
	10.23		14.42			0.41			4.15			3.42			1,718		54
	9.32		(3.07	)		0.37			4.28			3.46			1,501		109
	8.26		2.21	(d)		0.48	(e)		3.98	(e)		3.88	(e)		240		84	(d)
	8.26		(15.94	)		0.48			3.70			2.88			98		115
	10.38		1.16			0.48			2.48			2.28			146		111
	10.77		9.08			0.48			3.33			2.88			134		119
	10.23		14.34			0.48			4.17			3.35			171		54
	9.32		(3.19	)		0.48			4.16			3.30			144		109
	8.26		1.90	(d)		1.08	(e)		4.51	(e)		3.26	(e)		23		84	(d)
	8.26		(16.52	)		1.08			4.29			2.28			23		115
	10.39		0.65			1.08			3.08			1.68			29		111
	10.77		8.43			1.08			3.84			2.24			30		119
	10.23		13.66			1.08			4.78			2.74			28		54
	9.32		(3.75	)		1.08			4.92			2.76			25		109

See Notes to Financial Statements. 363

Financial Highlights (unaudited)(continued)

CORPORATE BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R3
5/31/2023(c)		$  8.26		$0.14		$ 0.02			$ 0.16			$(0.16	)		$      –			$(0.16	)
11/30/2022		10.38		0.22		(1.88	)		(1.66	)		(0.28	)		(0.18	)		(0.46	)
11/30/2021		10.77		0.19		(0.12	)		0.07			(0.28	)		(0.18	)		(0.46	)
11/30/2020		10.23		0.24		0.62			0.86			(0.32	)		–			(0.32	)
11/30/2019		9.32		0.28		0.99			1.27			(0.36	)		–			(0.36	)
11/30/2018		10.06		0.28		(0.64	)		(0.36	)		(0.37	)		(0.01	)		(0.38	)
Class R4
5/31/2023(c)		8.26		0.15		0.02			0.17			(0.17	)		–			(0.17	)
11/30/2022		10.39		0.23		(1.88	)		(1.65	)		(0.30	)		(0.18	)		(0.48	)
11/30/2021		10.78		0.21		(0.11	)		0.10			(0.31	)		(0.18	)		(0.49	)
11/30/2020		10.23		0.27		0.62			0.89			(0.34	)		–			(0.34	)
11/30/2019		9.32		0.30		0.99			1.29			(0.38	)		–			(0.38	)
11/30/2018		10.06		0.30		(0.63	)		(0.33	)		(0.40	)		(0.01	)		(0.41	)
Class R5
5/31/2023(c)		8.26		0.16		0.03			0.19			(0.18	)		–			(0.18	)
11/30/2022		10.39		0.26		(1.88	)		(1.62	)		(0.33	)		(0.18	)		(0.51	)
11/30/2021		10.78		0.24		(0.12	)		0.12			(0.33	)		(0.18	)		(0.51	)
11/30/2020		10.24		0.29		0.62			0.91			(0.37	)		–			(0.37	)
11/30/2019		9.32		0.33		0.99			1.32			(0.40	)		–			(0.40	)
11/30/2018		10.06		0.33		(0.64	)		(0.31	)		(0.42	)		(0.01	)		(0.43	)
Class R6
5/31/2023(c)		8.26		0.16		0.03			0.19			(0.19	)		–			(0.19	)
11/30/2022		10.39		0.26		(1.88	)		(1.62	)		(0.33	)		(0.18	)		(0.51	)
11/30/2021		10.78		0.24		(0.11	)		0.13			(0.34	)		(0.18	)		(0.52	)
11/30/2020		10.23		0.30		0.62			0.92			(0.37	)		–			(0.37	)
11/30/2019		9.32		0.34		0.98			1.32			(0.41	)		–			(0.41	)
11/30/2018		10.06		0.34		(0.64	)		(0.30	)		(0.43	)		(0.01	)		(0.44	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.

364 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	8.26		1.96	(d)		0.98	(e)		4.41	(e)		3.35	(e)	$	94		84	(d)
	8.26		(16.36	)		0.98			4.30			2.47			88		115
	10.38		0.65			0.98			2.98			1.78			69		111
	10.77		8.54			0.98			3.75			2.34			59		119
	10.23		13.77			0.98			4.68			2.85			54		54
	9.32		(3.65	)		0.98			4.87			2.87			47		109
	8.26		2.08	(d)		0.73	(e)		4.17	(e)		3.59	(e)		23		84	(d)
	8.26		(16.23	)		0.73			3.95			2.62			23		115
	10.39		0.91			0.73			2.73			2.04			29		111
	10.78		8.91			0.73			3.49			2.59			30		119
	10.23		14.06			0.73			4.42			3.09			28		54
	9.32		(3.41	)		0.73			4.56			3.11			25		109
	8.27		2.33	(d)		0.48	(e)		3.91	(e)		3.83	(e)		23		84	(d)
	8.26		(16.02	)		0.48			3.69			2.87			23		115
	10.39		1.16			0.48			2.48			2.28			29		111
	10.78		9.07			0.48			3.25			2.84			31		119
	10.24		14.45			0.48			4.17			3.34			29		54
	9.32		(3.17	)		0.48			4.32			3.36			25		109
	8.26		2.24	(d)		0.42	(e)		3.84	(e)		3.90	(e)		1,403		84	(d)
	8.26		(15.99	)		0.44			3.61			2.92			1,400		115
	10.39		1.20			0.44			2.45			2.32			1,804		111
	10.78		9.22			0.45			3.21			2.88			1,864		119
	10.23		14.42			0.41			4.15			3.42			1,718		54
	9.32		(3.07	)		0.37			4.28			3.46			1,501		109

See Notes to Financial Statements. 365

Financial Highlights (unaudited)(continued)

FLOATING RATE FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Return of capital			Total distri- butions
Class A
5/31/2023(c)		$7.89		$0.32		$(0.02	)		$ 0.30			$(0.31	)		$       –			$(0.31	)
11/30/2022		8.37		0.37		(0.48	)		(0.11	)		(0.37	)		–			(0.37	)
11/30/2021		8.20		0.33		0.16			0.49			(0.32	)		–			(0.32	)
11/30/2020		8.73		0.38		(0.53	)		(0.15	)		(0.32	)		(0.06	)		(0.38	)
11/30/2019		8.97		0.49		(0.24	)		0.25			(0.49	)		–			(0.49	)
11/30/2018		9.18		0.46		(0.21	)		0.25			(0.46	)		–			(0.46	)
Class C
5/31/2023(c)		7.89		0.29		–	(f)		0.29			(0.29	)		–			(0.29	)
11/30/2022		8.37		0.32		(0.48	)		(0.16	)		(0.32	)		–			(0.32	)
11/30/2021		8.20		0.27		0.17			0.44			(0.27	)		–			(0.27	)
11/30/2020		8.74		0.33		(0.54	)		(0.21	)		(0.27	)		(0.06	)		(0.33	)
11/30/2019		8.98		0.44		(0.24	)		0.20			(0.44	)		–			(0.44	)
11/30/2018		9.18		0.40		(0.20	)		0.20			(0.40	)		–			(0.40	)
Class F
5/31/2023(c)		7.88		0.32		–	(f)		0.32			(0.32	)		–			(0.32	)
11/30/2022		8.36		0.35		(0.45	)		(0.10	)		(0.38	)		–			(0.38	)
11/30/2021		8.19		0.33		0.17			0.50			(0.33	)		–			(0.33	)
11/30/2020		8.72		0.39		(0.54	)		(0.15	)		(0.32	)		(0.06	)		(0.38	)
11/30/2019		8.96		0.50		(0.24	)		0.26			(0.50	)		–			(0.50	)
11/30/2018		9.17		0.47		(0.21	)		0.26			(0.47	)		–			(0.47	)
Class F3
5/31/2023(c)		7.90		0.33		(0.01	)		0.32			(0.32	)		–			(0.32	)
11/30/2022		8.38		0.40		(0.49	)		(0.09	)		(0.39	)		–			(0.39	)
11/30/2021		8.21		0.35		0.17			0.52			(0.35	)		–			(0.35	)
11/30/2020		8.75		0.40		(0.54	)		(0.14	)		(0.34	)		(0.06	)		(0.40	)
11/30/2019		8.98		0.52		(0.23	)		0.29			(0.52	)		–			(0.52	)
11/30/2018		9.19		0.49		(0.22	)		0.27			(0.48	)		–			(0.48	)
Class I
5/31/2023(c)		7.89		0.33		(0.01	)		0.32			(0.32	)		–			(0.32	)
11/30/2022		8.37		0.41		(0.50	)		(0.09	)		(0.39	)		–			(0.39	)
11/30/2021		8.20		0.34		0.17			0.51			(0.34	)		–			(0.34	)
11/30/2020		8.74		0.40		(0.55	)		(0.15	)		(0.33	)		(0.06	)		(0.39	)
11/30/2019		8.97		0.51		(0.23	)		0.28			(0.51	)		–			(0.51	)
11/30/2018		9.18		0.48		(0.21	)		0.27			(0.48	)		–			(0.48	)
Class R2
5/31/2023(c)		7.90		0.30		(0.01	)		0.29			(0.30	)		–			(0.30	)
11/30/2022		8.38		0.35		(0.49	)		(0.14	)		(0.34	)		–			(0.34	)
11/30/2021		8.20		0.29		0.18			0.47			(0.29	)		–			(0.29	)
11/30/2020		8.74		0.35		(0.54	)		(0.19	)		(0.29	)		(0.06	)		(0.35	)
11/30/2019		8.98		0.46		(0.24	)		0.22			(0.46	)		–			(0.46	)
11/30/2018		9.19		0.43		(0.22	)		0.21			(0.42	)		–			(0.42	)

366 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	$7.88		3.86	(d)		0.82	(e)		0.82	(e)		8.06	(e)	$	1,565,624		38	(d)
	7.89		(1.31	)		0.80			0.80			4.60			1,882,335		85
	8.37		6.07			0.79			0.79			3.87			1,981,600		87
	8.20		(1.58	)		0.80			0.80			4.65			1,790,285		92
	8.73		2.90			0.81			0.81			5.56			2,462,684		58
	8.97		2.74			0.79			0.79			5.05			3,653,385		68
	7.89		3.67	(d)		1.46	(e)		1.46	(e)		7.41	(e)		363,556		38	(d)
	7.89		(1.93	)		1.43			1.43			3.96			441,112		85
	8.37		5.42			1.41			1.41			3.26			499,850		87
	8.20		(2.31	)		1.42			1.42			4.08			616,741		92
	8.74		2.37			1.45			1.45			4.93			1,141,085		58
	8.98		2.10			1.43			1.43			4.42			1,627,126		68
	7.88		4.05	(d)		0.71	(e)		0.71	(e)		8.00	(e)		331,299		38	(d)
	7.88		(1.22	)		0.69			0.69			4.24			869,845		85
	8.36		6.17			0.69			0.69			3.96			2,999,065		87
	8.19		(1.50	)		0.70			0.70			4.79			2,231,780		92
	8.72		3.00			0.71			0.71			5.65			4,007,181		58
	8.96		2.84			0.69			0.69			5.17			6,725,819		68
	7.90		4.14	(d)		0.54	(e)		0.54	(e)		8.30	(e)		114,217		38	(d)
	7.90		(1.04	)		0.53			0.53			4.95			178,268		85
	8.38		6.34			0.53			0.53			4.12			137,808		87
	8.21		(1.32	)		0.54			0.54			4.92			91,251		92
	8.75		3.17			0.54			0.54			5.83			147,359		58
	8.98		3.00			0.53			0.53			5.29			277,822		68
	7.89		4.10	(d)		0.61	(e)		0.61	(e)		8.26	(e)		2,531,679		38	(d)
	7.89		(1.11	)		0.60			0.60			5.05			2,954,554		85
	8.37		6.28			0.59			0.59			4.06			1,133,927		87
	8.20		(1.50	)		0.60			0.60			4.92			855,140		92
	8.74		3.22			0.61			0.61			5.75			1,475,395		58
	8.97		2.94			0.59			0.59			5.27			2,462,923		68
	7.89		3.66	(d)		1.21	(e)		1.21	(e)		7.65	(e)		823		38	(d)
	7.90		(1.70	)		1.20			1.20			4.28			1,086		85
	8.38		5.78			1.19			1.19			3.48			965		87
	8.20		(2.09	)		1.20			1.20			4.26			1,026		92
	8.74		2.50			1.21			1.21			5.16			1,471		58
	8.98		2.35			1.19			1.19			4.68			1,579		68

See Notes to Financial Statements. 367

Financial Highlights (unaudited)(continued)

FLOATING RATE FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning   of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Return of capital			Total distri- butions
Class R3
5/31/2023(c)		$ 7.89		$ 0.31		$ (0.01	)		$ 0.30		$	(0.30	)	$	–			$ (0.30	)
11/30/2022		8.37		0.36		(0.49	)		(0.13	)		(0.35	)		–			(0.35	)
11/30/2021		8.20		0.30		0.17			0.47			(0.30	)		–			(0.30	)
11/30/2020		8.74		0.35		(0.54	)		(0.19	)		(0.29	)		(0.06	)		(0.35	)
11/30/2019		8.97		0.47		(0.23	)		0.24			(0.47	)		–			(0.47	)
11/30/2018		9.18		0.44		(0.22	)		0.22			(0.43	)		–			(0.43	)
Class R4
5/31/2023(c)		7.89		0.32		(0.02	)		0.30			(0.31	)		–			(0.31	)
11/30/2022		8.37		0.36		(0.47	)		(0.11	)		(0.37	)		–			(0.37	)
11/30/2021		8.20		0.32		0.17			0.49			(0.32	)		–			(0.32	)
11/30/2020		8.73		0.38		(0.54	)		(0.16	)		(0.31	)		(0.06	)		(0.37	)
11/30/2019		8.97		0.49		(0.24	)		0.25			(0.49	)		–			(0.49	)
11/30/2018		9.18		0.47		(0.22	)		0.25			(0.46	)		–			(0.46	)
Class R5
5/31/2023(c)		7.90		0.33		(0.01	)		0.32			(0.32	)		–			(0.32	)
11/30/2022		8.38		0.39		(0.48	)		(0.09	)		(0.39	)		–			(0.39	)
11/30/2021		8.21		0.34		0.17			0.51			(0.34	)		–			(0.34	)
11/30/2020		8.75		0.40		(0.55	)		(0.15	)		(0.33	)		(0.06	)		(0.39	)
11/30/2019		8.98		0.51		(0.23	)		0.28			(0.51	)		–			(0.51	)
11/30/2018		9.19		0.51		(0.24	)		0.27			(0.48	)		–			(0.48	)
Class R6
5/31/2023(c)		7.90		0.33		(0.02	)		0.31			(0.32	)		–			(0.32	)
11/30/2022		8.38		0.39		(0.48	)		(0.09	)		(0.39	)		–			(0.39	)
11/30/2021		8.20		0.35		0.18			0.53			(0.35	)		–			(0.35	)
11/30/2020		8.74		0.40		(0.54	)		(0.14	)		(0.34	)		(0.06	)		(0.40	)
11/30/2019		8.98		0.51		(0.23	)		0.28			(0.52	)		–			(0.52	)
11/30/2018		9.19		0.49		(0.22	)		0.27			(0.48	)		–			(0.48	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Amount less than $0.01.

368 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	7.89		3.84	(d)		1.12	(e)		1.12	(e)		7.78	(e)	$	77,486		38	(d)
	7.89		(1.60	)		1.10			1.10			4.48			76,898		85
	8.37		5.76			1.09			1.09			3.58			51,915		87
	8.20		(1.99	)		1.10			1.10			4.35			43,458		92
	8.74		2.71			1.12			1.12			5.26			52,957		58
	8.97		2.45			1.09			1.09			4.78			52,978		68
	7.88		3.84	(d)		0.87	(e)		0.87	(e)		8.03	(e)		1,743		38	(d)
	7.89		(1.36	)		0.84			0.84			4.36			1,746		85
	8.37		6.02			0.84			0.84			3.83			2,680		87
	8.20		(1.63	)		0.85			0.85			4.64			2,953		92
	8.73		2.85			0.86			0.86			5.54			5,240		58
	8.97		2.70			0.85			0.85			5.16			21,747		68
	7.90		4.10	(d)		0.62	(e)		0.62	(e)		8.30	(e)		2,585		38	(d)
	7.90		(1.11	)		0.60			0.60			4.73			2,123		85
	8.38		6.28			0.59			0.59			4.08			2,975		87
	8.21		(1.49	)		0.60			0.60			4.93			5,019		92
	8.75		3.23			0.62			0.62			5.79			6,661		58
	8.98		2.96			0.60			0.60			5.62			44,385		68
	7.89		4.01	(d)		0.54	(e)		0.54	(e)		8.31	(e)		36,002		38	(d)
	7.90		(1.04	)		0.53			0.53			4.83			71,452		85
	8.38		6.48			0.53			0.53			4.15			95,334		87
	8.20		(1.44	)		0.54			0.54			4.89			124,190		92
	8.74		3.16			0.55			0.55			5.77			109,741		58
	8.98		3.01			0.53			0.53			5.35			63,275		68

See Notes to Financial Statements. 369

Financial Highlights (unaudited)(continued)

HIGH YIELD FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Return of capital			Total distri- butions
Class A
5/31/2023(c)		$ 6.20		$ 0.18		$ (0.10	)		$ 0.08			$ (0.19	)		$      –			$ (0.19	)
11/30/2022		7.43		0.35		(1.20	)		(0.85	)		(0.37	)		(0.01	)		(0.38	)
11/30/2021		7.30		0.35		0.14			0.49			(0.36	)		–			(0.36	)
11/30/2020		7.37		0.36		(0.05	)(f)		0.31			(0.38	)		–			(0.38	)
11/30/2019		7.13		0.40		0.25			0.65			(0.41	)		–			(0.41	)
11/30/2018		7.71		0.41		(0.56	)		(0.15	)		(0.43	)		–			(0.43	)
Class C
5/31/2023(c)		6.17		0.16		(0.10	)		0.06			(0.17	)		–			(0.17	)
11/30/2022		7.39		0.31		(1.19	)		(0.88	)		(0.33	)		(0.01	)		(0.34	)
11/30/2021		7.27		0.30		0.13			0.43			(0.31	)		–			(0.31	)
11/30/2020		7.33		0.32		(0.04	)(f)		0.28			(0.34	)		–			(0.34	)
11/30/2019		7.09		0.35		0.26			0.61			(0.37	)		–			(0.37	)
11/30/2018		7.67		0.36		(0.56	)		(0.20	)		(0.38	)		–			(0.38	)
Class F
5/31/2023(c)		6.19		0.18		(0.10	)		0.08			(0.19	)		–			(0.19	)
11/30/2022		7.42		0.36		(1.20	)		(0.84	)		(0.38	)		(0.01	)		(0.39	)
11/30/2021		7.30		0.35		0.14			0.49			(0.37	)		–			(0.37	)
11/30/2020		7.36		0.37		(0.04	)(f)		0.33			(0.39	)		–			(0.39	)
11/30/2019		7.12		0.40		0.26			0.66			(0.42	)		–			(0.42	)
11/30/2018		7.70		0.42		(0.56	)		(0.14	)		(0.44	)		–			(0.44	)
Class F3
5/31/2023(c)		6.23		0.19		(0.10	)		0.09			(0.20	)		–			(0.20	)
11/30/2022		7.46		0.37		(1.20	)		(0.83	)		(0.39	)		(0.01	)		(0.40	)
11/30/2021		7.34		0.37		0.13			0.50			(0.38	)		–			(0.38	)
11/30/2020		7.41		0.37		(0.03	)(f)		0.34			(0.41	)		–			(0.41	)
11/30/2019		7.16		0.42		0.27			0.69			(0.44	)		–			(0.44	)
11/30/2018		7.75		0.43		(0.56	)		(0.13	)		(0.46	)		–			(0.46	)
Class I
5/31/2023(c)		6.23		0.19		(0.10	)		0.09			(0.20	)		–			(0.20	)
11/30/2022		7.46		0.36		(1.19	)		(0.83	)		(0.39	)		(0.01	)		(0.40	)
11/30/2021		7.34		0.36		0.14			0.50			(0.38	)		–			(0.38	)
11/30/2020		7.40		0.37		(0.03	)(f)		0.34			(0.40	)		–			(0.40	)
11/30/2019		7.16		0.41		0.26			0.67			(0.43	)		–			(0.43	)
11/30/2018		7.74		0.43		(0.56	)		(0.13	)		(0.45	)		–			(0.45	)
Class R2
5/31/2023(c)		6.24		0.17		(0.10	)		0.07			(0.18	)		–			(0.18	)
11/30/2022		7.47		0.33		(1.20	)		(0.87	)		(0.35	)		(0.01	)		(0.36	)
11/30/2021		7.35		0.32		0.13			0.45			(0.33	)		–			(0.33	)
11/30/2020		7.41		0.34		(0.04	)(f)		0.30			(0.36	)		–			(0.36	)
11/30/2019		7.17		0.37		0.26			0.63			(0.39	)		–			(0.39	)
11/30/2018		7.76		0.38		(0.57	)		(0.19	)		(0.40	)		–			(0.40	)

370 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	6.09		1.31	(d)		0.92	(e)		0.92	(e)		5.96	(e)	$	754,505		40	(d)
	6.20		(11.62	)		0.89			0.90			5.24			799,529		106
	7.43		6.74			0.88			0.88			4.59			1,089,069		113
	7.30		4.65			0.90			0.90			5.15			1,134,235		126
	7.37		9.37			0.91			0.91			5.42			1,218,731		86
	7.13		(2.03	)		0.90			0.90			5.48			1,126,386		107
	6.06		0.99	(d)		1.54	(e)		1.54	(e)		5.33	(e)		146,195		40	(d)
	6.17		(12.12	)		1.52			1.52			4.61			166,372		106
	7.39		5.94			1.50			1.50			3.96			258,441		113
	7.27		4.14			1.53			1.53			4.55			287,145		126
	7.33		8.72			1.53			1.53			4.81			376,682		86
	7.09		(2.70	)		1.55			1.55			4.84			410,469		107
	6.08		1.36	(d)		0.82	(e)		0.82	(e)		5.98	(e)		231,527		40	(d)
	6.19		(11.56	)		0.79			0.80			5.22			456,720		106
	7.42		6.70			0.77			0.77			4.68			2,239,174		113
	7.30		4.89			0.80			0.80			5.24			2,097,727		126
	7.36		9.48			0.81			0.81			5.52			2,144,680		86
	7.12		(1.95	)		0.80			0.80			5.58			2,082,549		107
	6.12		1.47	(d)		0.61	(e)		0.61	(e)		6.27	(e)		582,686		40	(d)
	6.23		(11.29	)		0.60			0.60			5.54			558,736		106
	7.46		6.90			0.59			0.59			4.88			737,768		113
	7.34		4.97			0.60			0.60			5.31			1,984,689		126
	7.41		9.82			0.62			0.62			5.72			555,795		86
	7.16		(1.85	)		0.60			0.60			5.77			507,646		107
	6.12		1.42	(d)		0.72	(e)		0.72	(e)		6.15	(e)		1,660,600		40	(d)
	6.23		(11.37	)		0.69			0.70			5.46			1,753,902		106
	7.46		6.80			0.67			0.67			4.78			1,759,013		113
	7.34		5.00			0.70			0.70			5.30			1,664,193		126
	7.40		9.57			0.71			0.71			5.61			1,610,253		86
	7.16		(1.82	)		0.70			0.70			5.66			1,412,203		107
	6.13		1.12	(d)		1.32	(e)		1.32	(e)		5.56	(e)		4,670		40	(d)
	6.24		(11.88	)		1.29			1.30			4.85			4,736		106
	7.47		6.17			1.27			1.28			4.19			6,381		113
	7.35		4.39			1.31			1.31			4.81			6,662		126
	7.41		8.93			1.30			1.30			5.05			11,284		86
	7.17		(2.50	)		1.29			1.29			5.10			14,435		107

See Notes to Financial Statements. 371

Financial Highlights (unaudited)(continued)

HIGH YIELD FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Return of capital			Total distri- butions
Class R3
5/31/2023(c)		$ 6.24		$ 0.18		$ (0.11	)		$ 0.07			$ (0.18	)	$	–			$ (0.18	)
11/30/2022		7.47		0.33		(1.20	)		(0.87	)		(0.35	)		(0.01	)		(0.36	)
11/30/2021		7.35		0.32		0.14			0.46			(0.34	)		–			(0.34	)
11/30/2020		7.41		0.34		(0.04	)(f)		0.30			(0.36	)		–			(0.36	)
11/30/2019		7.17		0.38		0.25			0.63			(0.39	)		–			(0.39	)
11/30/2018		7.75		0.39		(0.56	)		(0.17	)		(0.41	)		–			(0.41	)
Class R4
5/31/2023(c)		6.20		0.18		(0.10	)		0.08			(0.19	)		–			(0.19	)
11/30/2022		7.43		0.35		(1.20	)		(0.85	)		(0.37	)		(0.01	)		(0.38	)
11/30/2021		7.30		0.34		0.14			0.48			(0.35	)		–			(0.35	)
11/30/2020		7.37		0.36		(0.05	)(f)		0.31			(0.38	)		–			(0.38	)
11/30/2019		7.12		0.39		0.27			0.66			(0.41	)		–			(0.41	)
11/30/2018		7.71		0.41		(0.57	)		(0.16	)		(0.43	)		–			(0.43	)
Class R5
5/31/2023(c)		6.23		0.19		(0.10	)		0.09			(0.20	)		–			(0.20	)
11/30/2022		7.46		0.36		(1.19	)		(0.83	)		(0.39	)		(0.01	)		(0.40	)
11/30/2021		7.33		0.36		0.15			0.51			(0.38	)		–			(0.38	)
11/30/2020		7.40		0.38		(0.05	)(f)		0.33			(0.40	)		–			(0.40	)
11/30/2019		7.15		0.41		0.27			0.68			(0.43	)		–			(0.43	)
11/30/2018		7.74		0.43		(0.57	)		(0.14	)		(0.45	)		–			(0.45	)
Class R6
5/31/2023(c)		6.23		0.19		(0.10	)		0.09			(0.20	)		–			(0.20	)
11/30/2022		7.46		0.37		(1.20	)		(0.83	)		(0.39	)		(0.01	)		(0.40	)
11/30/2021		7.34		0.37		0.13			0.50			(0.38	)		–			(0.38	)
11/30/2020		7.41		0.38		(0.04	)(f)		0.34			(0.41	)		–			(0.41	)
11/30/2019		7.16		0.42		0.27			0.69			(0.44	)		–			(0.44	)
11/30/2018		7.75		0.43		(0.56	)		(0.13	)		(0.46	)		–			(0.46	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statement of Operations for the year ended November 30, 2020, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values of the Fund’s portfolio.

372 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	6.13		1.17	(d)		1.22	(e)		1.22	(e)		5.66	(e)	$	83,188		40	(d)
	6.24		(11.80	)		1.19			1.20			4.94			85,877		106
	7.47		6.27			1.17			1.18			4.29			113,623		113
	7.35		4.49			1.20			1.20			4.87			114,737		126
	7.41		9.03			1.21			1.21			5.14			117,517		86
	7.17		(2.28	)		1.20			1.20			5.20			107,532		107
	6.09		1.28	(d)		0.97	(e)		0.97	(e)		5.90	(e)		67,480		40	(d)
	6.20		(11.67	)		0.94			0.95			5.20			76,122		106
	7.43		6.69			0.92			0.93			4.54			96,477		113
	7.30		4.61			0.95			0.95			5.11			113,046		126
	7.37		9.48			0.96			0.96			5.38			109,351		86
	7.12		(2.21	)		0.95			0.95			5.45			91,526		107
	6.12		1.58	(d)		0.72	(e)		0.72	(e)		6.16	(e)		185,842		40	(d)
	6.23		(11.52	)		0.69			0.70			5.45			213,656		106
	7.46		6.95			0.67			0.68			4.80			267,722		113
	7.33		4.87			0.70			0.70			5.37			256,527		126
	7.40		9.73			0.71			0.71			5.64			289,988		86
	7.15		(1.94	)		0.70			0.70			5.70			266,231		107
	6.12		1.47	(d)		0.61	(e)		0.61	(e)		6.26	(e)		536,194		40	(d)
	6.23		(11.29	)		0.60			0.60			5.55			581,901		106
	7.46		6.90			0.58			0.59			4.88			700,615		113
	7.34		4.97			0.61			0.61			5.45			643,491		126
	7.41		9.82			0.62			0.62			5.71			620,871		86
	7.16		(1.84	)		0.60			0.61			5.78			451,009		107

See Notes to Financial Statements. 373

Financial Highlights (unaudited)(continued)

INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(c)		$ 2.40		$ 0.05		$ 0.02			$ 0.07			$ (0.06	)	$	–			$ (0.06	)
11/30/2022		2.99		0.09		(0.53	)		(0.44	)		(0.10	)		(0.05	)		(0.15	)
11/30/2021		3.01		0.08		(0.01	)		0.07			(0.09	)		–			(0.09	)
11/30/2020		2.90		0.09		0.13			0.22			(0.11	)		–			(0.11	)
11/30/2019		2.67		0.10		0.24			0.34			(0.11	)		–			(0.11	)
11/30/2018		2.86		0.10		(0.18	)		(0.08	)		(0.11	)		–			(0.11	)
Class C
5/31/2023(c)		2.41		0.05		0.01			0.06			(0.05	)		–			(0.05	)
11/30/2022		3.00		0.07		(0.53	)		(0.46	)		(0.08	)		(0.05	)		(0.13	)
11/30/2021		3.02		0.06		(0.01	)		0.05			(0.07	)		–			(0.07	)
11/30/2020		2.92		0.07		0.12			0.19			(0.09	)		–			(0.09	)
11/30/2019		2.69		0.08		0.25			0.33			(0.10	)		–			(0.10	)
11/30/2018		2.87		0.08		(0.16	)		(0.08	)		(0.10	)		–			(0.10	)
Class F
5/31/2023(c)		2.40		0.05		0.02			0.07			(0.06	)		–			(0.06	)
11/30/2022		2.99		0.08		(0.52	)		(0.44	)		(0.10	)		(0.05	)		(0.15	)
11/30/2021		3.01		0.08		(0.01	)		0.07			(0.09	)		–			(0.09	)
11/30/2020		2.91		0.09		0.12			0.21			(0.11	)		–			(0.11	)
11/30/2019		2.67		0.10		0.26			0.36			(0.12	)		–			(0.12	)
11/30/2018		2.86		0.10		(0.17	)		(0.07	)		(0.12	)		–			(0.12	)
Class F3
5/31/2023(c)		2.40		0.06		0.01			0.07			(0.06	)		–			(0.06	)
11/30/2022		2.99		0.09		(0.52	)		(0.43	)		(0.11	)		(0.05	)		(0.16	)
11/30/2021		3.01		0.08		–			0.08			(0.10	)		–			(0.10	)
11/30/2020		2.90		0.10		0.12			0.22			(0.11	)		–			(0.11	)
11/30/2019		2.67		0.11		0.24			0.35			(0.12	)		–			(0.12	)
11/30/2018		2.86		0.10		(0.17	)		(0.07	)		(0.12	)		–			(0.12	)
Class I
5/31/2023(c)		2.40		0.06		0.01			0.07			(0.06	)		–			(0.06	)
11/30/2022		2.99		0.09		(0.53	)		(0.44	)		(0.10	)		(0.05	)		(0.15	)
11/30/2021		3.01		0.08		–			0.08			(0.10	)		–			(0.10	)
11/30/2020		2.91		0.10		0.11			0.21			(0.11	)		–			(0.11	)
11/30/2019		2.67		0.10		0.26			0.36			(0.12	)		–			(0.12	)
11/30/2018		2.86		0.10		(0.17	)		(0.07	)		(0.12	)		–			(0.12	)

374 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	2.41		2.80	(d)		0.74	(e)		0.74	(e)		4.37	(e)	$	982,928		62	(d)
	2.40		(15.22	)		0.74			0.75			3.29			967,719		158
	2.99		2.38			0.73			0.73			2.53			1,275,012		112
	3.01		7.65			0.76			0.76			3.11			1,229,762		112
	2.90		13.02			0.77			0.77			3.53			1,054,889		108
	2.67		(2.78	)		0.77			0.81			3.46			836,525		117
	2.42		2.49	(d)		1.35	(e)		1.35	(e)		3.75	(e)		42,600		62	(d)
	2.41		(15.68	)		1.37			1.37			2.61			45,245		158
	3.00		1.74			1.36			1.36			1.90			81,240		112
	3.02		6.60			1.38			1.38			2.53			107,888		112
	2.92		12.26			1.38			1.38			2.93			162,000		108
	2.69		(3.00	)		1.39			1.43			2.82			166,762		117
	2.41		2.85	(d)		0.64	(e)		0.64	(e)		4.40	(e)		64,595		62	(d)
	2.40		(15.14	)		0.64			0.64			3.08			111,920		158
	2.99		2.48			0.63			0.63			2.62			570,553		112
	3.01		7.38			0.66			0.66			3.20			570,685		112
	2.91		13.09			0.67			0.67			3.61			591,492		108
	2.67		(2.33	)		0.67			0.71			3.55			434,593		117
	2.41		2.94	(d)		0.46	(e)		0.46	(e)		4.64	(e)		1,010,363		62	(d)
	2.40		(14.98	)		0.46			0.46			3.59			849,235		158
	2.99		2.66			0.45			0.45			2.79			985,589		112
	3.01		7.95			0.47			0.47			3.38			722,882		112
	2.90		13.33			0.49			0.49			3.79			586,822		108
	2.67		(2.51	)		0.47			0.51			3.75			394,646		117
	2.41		2.90	(d)		0.53	(e)		0.53	(e)		4.59	(e)		747,236		62	(d)
	2.40		(15.05	)		0.54			0.55			3.72			429,047		158
	2.99		2.58			0.53			0.53			2.73			135,925		112
	3.01		7.49			0.56			0.56			3.33			155,970		112
	2.91		13.63			0.57			0.57			3.73			184,515		108
	2.67		(2.59	)		0.57			0.60			3.66			165,736		117

See Notes to Financial Statements. 375

Financial Highlights (unaudited)(continued)

INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R2
5/31/2023(c)		$ 2.42		$ 0.05	$	–	(f)		$ 0.05			$ (0.05	)	$	–			$ (0.05	)
11/30/2022		3.01		0.08		(0.53	)		(0.45	)		(0.09	)		(0.05	)		(0.14	)
11/30/2021		3.03		0.06		–			0.06			(0.08	)		–			(0.08	)
11/30/2020		2.93		0.08		0.11			0.19			(0.09	)		–			(0.09	)
11/30/2019		2.70		0.09		0.24			0.33			(0.10	)		–			(0.10	)
11/30/2018		2.88		0.09		(0.17	)		(0.08	)		(0.10	)		–			(0.10	)
Class R3
5/31/2023(c)		2.41		0.05		0.01			0.06			(0.05	)		–			(0.05	)
11/30/2022		3.00		0.08		(0.53	)		(0.45	)		(0.09	)		(0.05	)		(0.14	)
11/30/2021		3.02		0.07		(0.01	)		0.06			(0.08	)		–			(0.08	)
11/30/2020		2.91		0.08		0.13			0.21			(0.10	)		–			(0.10	)
11/30/2019		2.68		0.09		0.24			0.33			(0.10	)		–			(0.10	)
11/30/2018		2.87		0.09		(0.18	)		(0.09	)		(0.10	)		–			(0.10	)
Class R4
5/31/2023(c)		2.40		0.05		0.02			0.07			(0.06	)		–			(0.06	)
11/30/2022		2.99		0.09		(0.53	)		(0.44	)		(0.10	)		(0.05	)		(0.15	)
11/30/2021		3.01		0.08		(0.01	)		0.07			(0.09	)		–			(0.09	)
11/30/2020		2.90		0.09		0.12			0.21			(0.10	)		–			(0.10	)
11/30/2019		2.67		0.10		0.24			0.34			(0.11	)		–			(0.11	)
11/30/2018		2.86		0.10		(0.18	)		(0.08	)		(0.11	)		–			(0.11	)
Class R5
5/31/2023(c)		2.40		0.06		0.01			0.07			(0.06	)		–			(0.06	)
11/30/2022		2.99		0.09		(0.53	)		(0.44	)		(0.10	)		(0.05	)		(0.15	)
11/30/2021		3.01		0.08		–			0.08			(0.10	)		–			(0.10	)
11/30/2020		2.91		0.10		0.11			0.21			(0.11	)		–			(0.11	)
11/30/2019		2.68		0.11		0.24			0.35			(0.12	)		–			(0.12	)
11/30/2018		2.86		0.10		(0.16	)		(0.06	)		(0.12	)		–			(0.12	)
Class R6
5/31/2023(c)		2.40		0.06		0.01			0.07			(0.06	)		–			(0.06	)
11/30/2022		2.99		0.09		(0.52	)		(0.43	)		(0.11	)		(0.05	)		(0.16	)
11/30/2021		3.01		0.08		–			0.08			(0.10	)		–			(0.10	)
11/30/2020		2.90		0.10		0.12			0.22			(0.11	)		–			(0.11	)
11/30/2019		2.67		0.11		0.24			0.35			(0.12	)		–			(0.12	)
11/30/2018		2.86		0.10		(0.17	)		(0.07	)		(0.12	)		–			(0.12	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Amount less than $0.01.

376 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b)  (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	2.42		2.17	(d)		1.14	(e)		1.14	(e)		3.97	(e)	$	1,155		62	(d)
	2.42		(15.43	)		1.14			1.15			2.90			1,107		158
	3.01		1.98			1.13			1.13			2.14			1,350		112
	3.03		6.83			1.16			1.16			2.73			1,730		112
	2.93		12.47			1.17			1.17			3.17			1,285		108
	2.70		(2.76	)		1.17			1.21			3.05			1,667		117
	2.42		2.64	(d)		1.04	(e)		1.04	(e)		4.07	(e)		50,288		62	(d)
	2.41		(15.41	)		1.04			1.05			3.00			47,036		158
	3.00		2.08			1.03			1.03			2.23			56,410		112
	3.02		7.32			1.06			1.06			2.83			53,114		112
	2.91		12.65			1.07			1.07			3.24			55,317		108
	2.68		(3.05	)		1.07			1.11			3.16			50,016		117
	2.41		2.77	(d)		0.79	(e)		0.79	(e)		4.32	(e)		6,142		62	(d)
	2.40		(15.26	)		0.79			0.80			3.38			5,992		158
	2.99		2.33			0.78			0.78			2.50			4,501		112
	3.01		7.60			0.81			0.81			3.07			9,205		112
	2.90		12.97			0.82			0.82			3.46			9,218		108
	2.67		(2.83	)		0.82			0.85			3.44			5,363		117
	2.41		2.90	(d)		0.54	(e)		0.54	(e)		4.58	(e)		1,964		62	(d)
	2.40		(15.05	)		0.54			0.55			3.31			1,559		158
	2.99		2.59			0.53			0.53			2.73			6,309		112
	3.01		7.50			0.56			0.56			3.32			6,548		112
	2.91		13.21			0.57			0.57			3.73			6,099		108
	2.68		(2.23	)		0.58			0.62			3.54			4,048		117
	2.41		2.94	(d)		0.46	(e)		0.46	(e)		4.64	(e)		45,139		62	(d)
	2.40		(14.98	)		0.46			0.46			3.59			42,966		158
	2.99		2.67			0.45			0.45			2.81			60,434		112
	3.01		7.95			0.48			0.48			3.40			55,981		112
	2.90		13.34			0.49			0.49			3.81			52,133		108
	2.67		(2.50	)		0.47			0.51			3.77			33,975		117

See Notes to Financial Statements. 377

Financial Highlights (unaudited)(continued)

INFLATION FOCUSED FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period
Class A
5/31/2023(c)		$11.65		$0.17		$(0.06	)	$	0.11			$(0.23	)		$11.53
11/30/2022		12.44		0.25		(0.68	)		(0.43	)		(0.36	)		11.65
11/30/2021		11.33		0.13		1.28			1.41			(0.30	)		12.44
11/30/2020		11.23		0.26		0.26	(f)		0.52			(0.42	)		11.33
11/30/2019		11.55		0.34		(0.21	)		0.13			(0.45	)		11.23
11/30/2018		11.88		0.29		(0.17	)		0.12			(0.45	)		11.55
Class C
5/31/2023(c)		11.67		0.13		(0.08	)		0.05			(0.18	)		11.54
11/30/2022		12.46		0.16		(0.68	)		(0.52	)		(0.27	)		11.67
11/30/2021		11.35		0.05		1.29			1.34			(0.23	)		12.46
11/30/2020		11.25		0.20		0.25	(f)		0.45			(0.35	)		11.35
11/30/2019		11.57		0.27		(0.21	)		0.06			(0.38	)		11.25
11/30/2018		11.90		0.22		(0.18	)		0.04			(0.37	)		11.57
Class F
5/31/2023(c)		11.67		0.18		(0.07	)		0.11			(0.23	)		11.55
11/30/2022		12.46		0.23		(0.65	)		(0.42	)		(0.37	)		11.67
11/30/2021		11.35		0.14		1.29			1.43			(0.32	)		12.46
11/30/2020		11.24		0.27		0.27	(f)		0.54			(0.43	)		11.35
11/30/2019		11.57		0.35		(0.21	)		0.14			(0.47	)		11.24
11/30/2018		11.89		0.31		(0.17	)		0.14			(0.46	)		11.57
Class F3
5/31/2023(c)		11.66		0.19		(0.07	)		0.12			(0.24	)		11.54
11/30/2022		12.45		0.29		(0.69	)		(0.40	)		(0.39	)		11.66
11/30/2021		11.34		0.14		1.30			1.44			(0.33	)		12.45
11/30/2020		11.23		0.29		0.27	(f)		0.56			(0.45	)		11.34
11/30/2019		11.55		0.37		(0.21	)		0.16			(0.48	)		11.23
11/30/2018		11.88		0.33		(0.18	)		0.15			(0.48	)		11.55
Class I
5/31/2023(c)		11.65		0.19		(0.08	)		0.11			(0.24	)		11.52
11/30/2022		12.44		0.29		(0.69	)		(0.40	)		(0.39	)		11.65
11/30/2021		11.34		0.16		1.27			1.43			(0.33	)		12.44
11/30/2020		11.24		0.28		0.26	(f)		0.54			(0.44	)		11.34
11/30/2019		11.56		0.36		(0.20	)		0.16			(0.48	)		11.24
11/30/2018		11.89		0.32		(0.18	)		0.14			(0.47	)		11.56
Class R2
5/31/2023(c)		11.60		0.15		(0.08	)		0.07			(0.20	)		11.47
11/30/2022		12.38		0.23		(0.70	)		(0.47	)		(0.31	)		11.60
11/30/2021		11.30		0.11		1.23			1.34			(0.26	)		12.38
11/30/2020		11.22		0.20		0.26	(f)		0.46			(0.38	)		11.30
11/30/2019		11.55		0.30		(0.22	)		0.08			(0.41	)		11.22
11/30/2018		11.87		0.24		(0.16	)		0.08			(0.40	)		11.55

378 See Notes to Financial Statements.

			Ratios to Average Net Assets:									Supplemental Data:
Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	1.05	(d)		0.74	(e)		0.74	(e)		3.02	(e)	$	322,251		10	(d)
	(3.51	)		0.66			0.67			2.02			472,591		67
	12.59			0.64			0.64			1.06			560,624		97
	4.87			0.69			0.70			2.40			89,956		97
	1.19			0.69			0.69			2.97			109,626		43
	0.95			0.69			0.69			2.48			171,109		108
	0.61	(d)		1.45	(e)		1.45	(e)		2.31	(e)		68,489		10	(d)
	(4.20	)		1.40			1.40			1.34			94,132		67
	11.85			1.31			1.31			0.39			92,580		97
	4.23			1.30			1.31			1.81			17,716		97
	0.55			1.33			1.33			2.33			28,655		43
	0.30			1.34			1.35			1.84			49,435		108
	1.10	(d)		0.64	(e)		0.64	(e)		3.09	(e)		103,121		10	(d)
	(3.40	)		0.54			0.55			1.83			284,593		67
	12.68			0.54			0.54			1.11			1,818,238		97
	5.06			0.59			0.60			2.52			187,180		97
	1.20			0.59			0.59			3.06			285,297		43
	1.14			0.58			0.59			2.60			489,043		108
	1.20	(d)		0.45	(e)		0.45	(e)		3.31	(e)		185,460		10	(d)
	(3.23	)		0.38			0.39			2.39			308,596		67
	12.86			0.38			0.38			1.17			236,951		97
	5.24			0.42			0.43			2.68			8,595		97
	1.46			0.42			0.42			3.24			10,645		43
	1.25			0.39			0.43			2.80			22,597		108
	1.07	(d)		0.54	(e)		0.54	(e)		3.21	(e)		1,021,463		10	(d)
	(3.31	)		0.47			0.48			2.37			1,476,955		67
	12.73			0.44			0.45			1.32			1,006,157		97
	5.08			0.49			0.50			2.63			320,045		97
	1.39			0.49			0.49			3.16			631,037		43
	1.16			0.48			0.49			2.71			661,340		108
	0.85	(d)		1.14	(e)		1.14	(e)		2.64	(e)		273		10	(d)
	(3.92	)		1.08			1.09			1.97			169		67
	11.96			1.07			1.07			0.96			—		97
	4.28			1.07			1.08			1.83			166		97
	0.70			1.08			1.08			2.59			51		43
	0.64			1.10			1.11			2.07			201		108

See Notes to Financial Statements. 379

Financial Highlights (unaudited)(continued)

INFLATION FOCUSED FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period
Class R3
5/31/2023(c)		$11.65		$0.16		$(0.08	)		$0.08			$(0.21	)		$11.52
11/30/2022		12.44		0.22		(0.69	)		(0.47	)		(0.32	)		11.65
11/30/2021		11.34		0.11		1.26			1.37			(0.27	)		12.44
11/30/2020		11.23		0.22		0.28	(f)		0.50			(0.39	)		11.34
11/30/2019		11.56		0.30		(0.21	)		0.09			(0.42	)		11.23
11/30/2018		11.88		0.26		(0.17	)		0.09			(0.41	)		11.56
Class R4
5/31/2023(c)		11.65		0.17		(0.08	)		0.09			(0.22	)		11.52
11/30/2022		12.44		0.24		(0.68	)		(0.44	)		(0.35	)		11.65
11/30/2021		11.34		0.15		1.25			1.40			(0.30	)		12.44
11/30/2020		11.23		0.26		0.26	(f)		0.52			(0.41	)		11.34
11/30/2019		11.56		0.33		(0.21	)		0.12			(0.45	)		11.23
11/30/2018		11.88		0.30		(0.18	)		0.12			(0.44	)		11.56
Class R5
5/31/2023(c)		11.64		0.19		(0.08	)		0.11			(0.24	)		11.51
11/30/2022		12.43		0.29		(0.70	)		(0.41	)		(0.38	)		11.64
11/30/2021		11.33		0.17		1.26			1.43			(0.33	)		12.43
11/30/2020		11.23		0.28		0.26	(f)		0.54			(0.44	)		11.33
11/30/2019		11.55		0.36		(0.20	)		0.16			(0.48	)		11.23
11/30/2018		11.88		0.33		(0.19	)		0.14			(0.47	)		11.55
Class R6
5/31/2023(c)		11.64		0.19		(0.07	)		0.12			(0.24	)		11.52
11/30/2022		12.43		0.27		(0.67	)		(0.40	)		(0.39	)		11.64
11/30/2021		11.34		0.18		1.25			1.43			(0.34	)		12.43
11/30/2020		11.23		0.29		0.27	(f)		0.56			(0.45	)		11.34
11/30/2019		11.56		0.37		(0.21	)		0.16			(0.49	)		11.23
11/30/2018		11.88		0.33		(0.17	)		0.16			(0.48	)		11.56

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statement of Operations for the year ended November 30, 2020, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values of the Fund’s portfolio.

380 See Notes to Financial Statements.

			Ratios to Average Net Assets:									Supplemental Data:
Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.90	(d)		1.03	(e)		1.03	(e)		2.73	(e)	$	568		10	(d)
	(3.88	)		0.97			0.97			1.81			462		67
	12.17			0.94			0.95			0.90			402		97
	4.65			0.98			0.99			2.03			226		97
	0.80			0.99			0.99			2.66			104		43
	0.74			0.99			1.00			2.17			111		108
	0.94	(d)		0.79	(e)		0.79	(e)		2.99	(e)		2,323		10	(d)
	(3.55	)		0.72			0.72			1.97			1,682		67
	12.46			0.70			0.70			1.21			2,020		97
	4.91			0.74			0.75			2.35			1,706		97
	1.05			0.74			0.74			2.91			3,174		43
	1.00			0.73			0.73			2.52			2,006		108
	1.07	(d)		0.51	(e)		0.51	(e)		3.29	(e)		1,899		10	(d)
	(3.32	)		0.48			0.48			2.42			473		67
	12.75			0.45			0.45			1.40			304		97
	5.08			0.49			0.50			2.64			170		97
	1.39			0.49			0.49			3.17			334		43
	1.17			0.47			0.48			2.83			144		108
	1.20	(d)		0.45	(e)		0.45	(e)		3.29	(e)		9,536		10	(d)
	(3.24	)		0.38			0.39			2.25			11,328		67
	12.71			0.39			0.40			1.52			16,742		97
	5.24			0.42			0.43			2.70			14,541		97
	1.37			0.42			0.42			3.25			35,167		43
	1.34			0.39			0.43			2.81			54,549		108

See Notes to Financial Statements. 381

Financial Highlights (unaudited)(continued)

SHORT DURATION CORE BOND FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)			Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period		Total return(b) (%)
Class A
5/31/2023(c)		$9.12		$0.19			$0.01			$0.20			$(0.20	)		$9.12		2.22	(d)
11/30/2022		9.77		0.18			(0.58	)		(0.40	)		(0.25	)		9.12		(4.16	)
11/30/2021		9.89		0.07			(0.02	)		0.05			(0.17	)		9.77		0.48
11/30/2020		9.89		0.14			0.10			0.24			(0.24	)		9.89		2.46
11/30/2019		9.72		0.24			0.23			0.47			(0.30	)		9.89		4.87
11/30/2018		9.92		0.22			(0.12	)		0.10			(0.30	)		9.72		1.04
Class C
5/31/2023(c)		9.11		0.16			0.02			0.18			(0.17	)		9.12		2.01	(d)
11/30/2022		9.76		0.11			(0.58	)		(0.47	)		(0.18	)		9.11		(4.79	)
11/30/2021		9.89		–	(f)		(0.03	)		(0.03	)		(0.10	)		9.76		(0.29	)
11/30/2020		9.89		0.09			0.08			0.17			(0.17	)		9.89		1.76
11/30/2019		9.72		0.17			0.23			0.40			(0.23	)		9.89		4.15
11/30/2018		9.92		0.14			(0.11	)		0.03			(0.23	)		9.72		0.27
Class F
5/31/2023(c)		9.11		0.19			0.03			0.22			(0.21	)		9.12		2.38	(d)
11/30/2022		9.76		0.14			(0.53	)		(0.39	)		(0.26	)		9.11		(4.06	)
11/30/2021		9.89		0.08			(0.03	)		0.05			(0.18	)		9.76		0.48
11/30/2020		9.89		0.16			0.09			0.25			(0.25	)		9.89		2.54
11/30/2019		9.72		0.24			0.24			0.48			(0.31	)		9.89		4.97
11/30/2018		9.92		0.23			(0.12	)		0.11			(0.31	)		9.72		1.14
Class F3
5/31/2023(c)		9.11		0.20			0.02			0.22			(0.21	)		9.12		2.47	(d)
11/30/2022		9.76		0.26			(0.64	)		(0.38	)		(0.27	)		9.11		(3.91	)
11/30/2021		9.88		0.10			(0.02	)		0.08			(0.20	)		9.76		0.80
11/30/2020		9.89		0.37			(0.11	)		0.26			(0.27	)		9.88		2.65
11/30/2019		9.72		0.27			0.22			0.49			(0.32	)		9.89		5.13
11/30/2018		9.92		0.24			(0.11	)		0.13			(0.33	)		9.72		1.34
Class I
5/31/2023(c)		9.11		0.20			0.02			0.22			(0.21	)		9.12		2.43	(d)
11/30/2022		9.77		0.19			(0.58	)		(0.39	)		(0.27	)		9.11		(4.06	)
11/30/2021		9.89		0.09			(0.02	)		0.07			(0.19	)		9.77		0.68
11/30/2020		9.89		0.16			0.10			0.26			(0.26	)		9.89		2.65
11/30/2019		9.71		0.24			0.26			0.50			(0.32	)		9.89		5.18
11/30/2018		9.92		0.24			(0.13	)		0.11			(0.32	)		9.71		1.14

382 See Notes to Financial Statements.

Ratios to Average Net Assets:									Supplemental Data:
Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.60	(e)		0.74	(e)		4.11	(e)	$	77,457		58	(d)
	0.60			0.79			1.88			44,849		176
	0.60			0.79			0.71			47,227		220
	0.60			1.00			1.47			32,022		351
	0.60			1.81			2.47			8,032		136
	0.60			3.11			2.21			3,844		177
	1.24	(e)		1.39	(e)		3.44	(e)		5,098		58	(d)
	1.26			1.46			1.18			4,445		176
	1.28			1.47			0.04			4,026		220
	1.28			1.71			0.90			4,334		351
	1.29			2.54			1.77			2,238		136
	1.39			3.88			1.42			1,083		177
	0.50	(e)		0.64	(e)		4.17	(e)		28,384		58	(d)
	0.50			0.68			1.46			19,105		176
	0.50			0.69			0.81			104,324		220
	0.50			0.91			1.58			82,951		351
	0.50			1.46			2.40			29,007		136
	0.50			3.00			2.32			4,212		177
	0.32	(e)		0.47	(e)		4.37	(e)		37,213		58	(d)
	0.33			0.49			2.83			29,952		176
	0.34			0.52			1.02			514		220
	0.36			1.06			3.78			12		351
	0.36			1.64			2.72			1,612		136
	0.32			2.87			2.47			1,533		177
	0.40	(e)		0.54	(e)		4.30	(e)		218,269		58	(d)
	0.40			0.59			2.08			135,395		176
	0.40			0.59			0.89			26,463		220
	0.40			0.80			1.63			4,402		351
	0.40			1.35			2.49			1,821		136
	0.40			2.88			2.42			127		177

See Notes to Financial Statements. 383

Financial Highlights (unaudited)(continued)

SHORT DURATION CORE BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period		Total return(b) (%)
Class R3
5/31/2023(c)		$9.11		$0.17		$0.03			$0.20			$(0.19	)		$9.12		2.18	(d)
11/30/2022		9.76		0.19		(0.62	)		(0.43	)		(0.22	)		9.11		(4.45	)
11/30/2021		9.89		0.04		(0.03	)		0.01			(0.14	)		9.76		0.09
11/30/2020		9.89		0.13		0.08			0.21			(0.21	)		9.89		2.16
11/30/2019		9.72		0.21		0.23			0.44			(0.27	)		9.89		4.56
11/30/2018		9.92		0.19		(0.12	)		0.07			(0.27	)		9.72		0.75
Class R4
5/31/2023(c)		9.11		0.19		0.02			0.21			(0.20	)		9.12		2.30	(d)
11/30/2022		9.77		0.16		(0.58	)		(0.42	)		(0.24	)		9.11		(4.31	)
11/30/2021		9.89		0.07		(0.03	)		0.04			(0.16	)		9.77		0.44
11/30/2020		9.89		0.18		0.05			0.23			(0.23	)		9.89		2.41
11/30/2019		9.72		0.24		0.22			0.46			(0.29	)		9.89		4.82
11/30/2018		9.92		0.21		(0.11	)		0.10			(0.30	)		9.72		1.00
Class R5
5/31/2023(c)		9.11		0.20		0.02			0.22			(0.21	)		9.12		2.43	(d)
11/30/2022		9.77		0.18		(0.58	)		(0.40	)		(0.26	)		9.11		(4.07	)
11/30/2021		9.89		0.09		(0.02	)		0.07			(0.19	)		9.77		0.68
11/30/2020		9.89		0.20		0.06			0.26			(0.26	)		9.89		2.66
11/30/2019		9.72		0.26		0.23			0.49			(0.32	)		9.89		5.08
11/30/2018		9.92		0.23		(0.11	)		0.12			(0.32	)		9.72		1.25
Class R6
5/31/2023(c)		9.11		0.20		0.02			0.22			(0.21	)		9.12		2.47	(d)
11/30/2022		9.76		0.19		(0.57	)		(0.38	)		(0.27	)		9.11		(3.90	)
11/30/2021		9.89		0.10		(0.04	)		0.06			(0.19	)		9.76		0.65
11/30/2020		9.89		0.21		0.06			0.27			(0.27	)		9.89		2.75
11/30/2019		9.72		0.27		0.22			0.49			(0.32	)		9.89		5.13
11/30/2018		9.92		0.24		(0.11	)		0.13			(0.33	)		9.72		1.34

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Amount less than $0.01.

384 See Notes to Financial Statements.

Ratios to Average Net Assets:									Supplemental Data:
Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.90	(e)		1.05	(e)		3.78	(e)	$	590		58	(d)
	0.90			1.12			2.03			582		176
	0.90			1.09			0.42			61		220
	0.90			1.34			1.32			98		351
	0.90			2.14			2.17			76		136
	0.90			3.42			1.92			49		177
	0.65	(e)		0.75	(e)		4.08	(e)		20		58	(d)
	0.65			0.80			1.71			11		176
	0.65			0.81			0.67			12		220
	0.65			1.11			1.81			12		351
	0.65			1.95			2.42			27		136
	0.65			3.13			2.14			25		177
	0.40	(e)		0.49	(e)		4.27	(e)		11		58	(d)
	0.40			0.57			1.95			11		176
	0.40			0.57			0.90			12		220
	0.40			0.87			2.06			12		351
	0.40			1.69			2.67			27		136
	0.40			2.88			2.39			26		177
	0.32	(e)		0.47	(e)		4.31	(e)		654		58	(d)
	0.33			0.49			2.04			925		176
	0.34			0.52			0.98			963		220
	0.36			0.81			2.17			911		351
	0.36			1.63			2.72			1,961		136
	0.32			2.87			2.48			1,653		177

See Notes to Financial Statements. 385

Financial Highlights (unaudited)(continued)

SHORT DURATION INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period		Total return(b) (%)
Class A
5/31/2023(c)		$3.84		$0.07		$0.01			$0.08			$(0.08	)		$3.84		2.14	(d)
11/30/2022		4.16		0.08		(0.28	)		(0.20	)		(0.12	)		3.84		(4.90	)
11/30/2021		4.20		0.07		(0.01	)		0.06			(0.10	)		4.16		1.40
11/30/2020		4.21		0.09		0.02	(f)		0.11			(0.12	)		4.20		2.76
11/30/2019		4.14		0.12		0.10			0.22			(0.15	)		4.21		5.48
11/30/2018		4.26		0.11		(0.07	)		0.04			(0.16	)		4.14		0.96
Class C
5/31/2023(c)		3.86		0.06		0.01			0.07			(0.07	)		3.86		1.83	(d)
11/30/2022		4.19		0.06		(0.30	)		(0.24	)		(0.09	)		3.86		(5.69	)
11/30/2021		4.22		0.04		–			0.04			(0.07	)		4.19		0.99
11/30/2020		4.23		0.07		0.02	(f)		0.09			(0.10	)		4.22		2.10
11/30/2019		4.17		0.10		0.09			0.19			(0.13	)		4.23		4.57
11/30/2018		4.29		0.09		(0.08	)		0.01			(0.13	)		4.17		0.35
Class F
5/31/2023(c)		3.83		0.07		0.02			0.09			(0.08	)		3.84		2.46	(d)
11/30/2022		4.16		0.08		(0.29	)		(0.21	)		(0.12	)		3.83		(5.05	)
11/30/2021		4.19		0.07		–			0.07			(0.10	)		4.16		1.74
11/30/2020		4.21		0.10		0.01	(f)		0.11			(0.13	)		4.19		2.62
11/30/2019		4.14		0.13		0.10			0.23			(0.16	)		4.21		5.58
11/30/2018		4.26		0.12		(0.08	)		0.04			(0.16	)		4.14		1.06
Class F3
5/31/2023(c)		3.84		0.07		0.02			0.09			(0.09	)		3.84		2.28	(d)
11/30/2022		4.17		0.10		(0.30	)		(0.20	)		(0.13	)		3.84		(4.87	)
11/30/2021		4.20		0.08		–			0.08			(0.11	)		4.17		1.91
11/30/2020		4.21		0.10		0.02	(f)		0.12			(0.13	)		4.20		3.03
11/30/2019		4.14		0.13		0.10			0.23			(0.16	)		4.21		5.75
11/30/2018		4.26		0.12		(0.07	)		0.05			(0.17	)		4.14		1.22
Class I
5/31/2023(c)		3.83		0.07		0.02			0.09			(0.09	)		3.83		2.25	(d)
11/30/2022		4.16		0.10		(0.30	)		(0.20	)		(0.13	)		3.83		(4.95	)
11/30/2021		4.19		0.07		0.01	(f)		0.08			(0.11	)		4.16		1.85
11/30/2020		4.21		0.10		0.01	(f)		0.11			(0.13	)		4.19		2.97
11/30/2019		4.14		0.13		0.10			0.23			(0.16	)		4.21		5.44
11/30/2018		4.25		0.12		(0.06	)		0.06			(0.17	)		4.14		1.40
Class R2
5/31/2023(c)		3.84		0.06		0.01			0.07			(0.07	)		3.84		1.94	(d)
11/30/2022		4.16		0.07		(0.29	)		(0.22	)		(0.10	)		3.84		(5.28	)
11/30/2021		4.20		0.05		(0.01	)		0.04			(0.08	)		4.16		1.00
11/30/2020		4.21		0.08		0.02	(f)		0.10			(0.11	)		4.20		2.36
11/30/2019		4.14		0.11		0.10			0.21			(0.14	)		4.21		5.07
11/30/2018		4.26		0.10		(0.08	)		0.02			(0.14	)		4.14		0.56

386 See Notes to Financial Statements.

Ratios to Average Net Assets:									Supplemental Data:
Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.59	(e)		0.59	(e)		3.62	(e)	$	8,461,816		32	(d)
	0.58			0.58			2.10			9,589,050		75
	0.58			0.58			1.55			13,355,736		84
	0.59			0.59			2.22			12,733,693		102
	0.60			0.60			2.92			11,693,022		57
	0.59			0.59			2.70			8,735,221		71
	1.21	(e)		1.21	(e)		3.00	(e)		1,860,233		32	(d)
	1.22			1.22			1.45			2,170,217		75
	1.23			1.23			0.91			3,379,490		84
	1.24			1.24			1.62			3,914,470		102
	1.22			1.22			2.31			4,914,970		57
	1.23			1.23			2.07			4,912,225		71
	0.49	(e)		0.49	(e)		3.65	(e)		2,479,487		32	(d)
	0.48			0.48			1.96			6,132,794		75
	0.48			0.48			1.65			26,865,299		84
	0.49			0.49			2.33			23,546,579		102
	0.50			0.50			3.02			23,128,477		57
	0.49			0.49			2.80			15,833,169		71
	0.32	(e)		0.32	(e)		3.90	(e)		4,937,676		32	(d)
	0.31			0.32			2.41			5,143,625		75
	0.31			0.31			1.81			5,139,001		84
	0.33			0.33			2.48			4,425,861		102
	0.34			0.34			3.19			4,087,351		57
	0.32			0.32			2.95			3,709,795		71
	0.39	(e)		0.39	(e)		3.84	(e)		27,583,299		32	(d)
	0.38			0.38			2.51			25,868,734		75
	0.38			0.38			1.74			12,428,298		84
	0.39			0.39			2.44			9,762,949		102
	0.40			0.40			3.12			10,281,839		57
	0.39			0.39			2.90			7,315,707		71
	0.99	(e)		0.99	(e)		3.23	(e)		6,684		32	(d)
	0.98			0.98			1.70			6,312		75
	0.98			0.98			1.17			9,901		84
	0.99			0.99			1.85			13,909		102
	1.00			1.00			2.55			18,031		57
	0.99			0.99			2.30			20,433		71

See Notes to Financial Statements. 387

Financial Highlights (unaudited)(continued)

SHORT DURATION INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period		Total return(b) (%)
Class R3
5/31/2023(c)		$3.84		$0.06		$0.02			$0.08			$(0.08	)		$3.84		1.99	(d)
11/30/2022		4.17		0.07		(0.29	)		(0.22	)		(0.11	)		3.84		(5.18	)
11/30/2021		4.20		0.05		0.01	(f)		0.06			(0.09	)		4.17		1.10
11/30/2020		4.21		0.08		0.02	(f)		0.10			(0.11	)		4.20		2.46
11/30/2019		4.14		0.11		0.10			0.21			(0.14	)		4.21		5.17
11/30/2018		4.26		0.10		(0.07	)		0.03			(0.15	)		4.14		0.67
Class R4
5/31/2023(c)		3.84		0.07		0.01			0.08			(0.08	)		3.84		2.12	(d)
11/30/2022		4.17		0.08		(0.30	)		(0.22	)		(0.11	)		3.84		(5.23	)
11/30/2021		4.20		0.07		–			0.07			(0.10	)		4.17		1.67
11/30/2020		4.22		0.09		0.01	(f)		0.10			(0.12	)		4.20		2.47
11/30/2019		4.15		0.12		0.10			0.22			(0.15	)		4.22		5.43
11/30/2018		4.27		0.11		(0.07	)		0.04			(0.16	)		4.15		0.93
Class R5
5/31/2023(c)		3.83		0.07		0.02			0.09			(0.09	)		3.83		2.24	(d)
11/30/2022		4.15		0.09		(0.29	)		(0.20	)		(0.12	)		3.83		(4.79	)
11/30/2021		4.19		0.08		(0.01	)		0.07			(0.11	)		4.15		1.67
11/30/2020		4.20		0.10		0.02	(f)		0.12			(0.13	)		4.19		2.97
11/30/2019		4.13		0.13		0.10			0.23			(0.16	)		4.20		5.70
11/30/2018		4.25		0.12		(0.07	)		0.05			(0.17	)		4.13		1.16
Class R6
5/31/2023(c)		3.83		0.07		0.02			0.09			(0.09	)		3.83		2.28	(d)
11/30/2022		4.16		0.10		(0.30	)		(0.20	)		(0.13	)		3.83		(4.89	)
11/30/2021		4.19		0.08		–			0.08			(0.11	)		4.16		1.91
11/30/2020		4.21		0.10		0.01	(f)		0.11			(0.13	)		4.19		2.79
11/30/2019		4.14		0.13		0.10			0.23			(0.16	)		4.21		5.76
11/30/2018		4.26		0.13		(0.08	)		0.05			(0.17	)		4.14		1.23

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statement of Operations for the years ended November 30, 2020 and 2021, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values of the Fund’s portfolio.

388 See Notes to Financial Statements.

Ratios to Average Net Assets:									Supplemental Data:
Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.89	(e)		0.89	(e)		3.33	(e)	$	341,400		32	(d)
	0.88			0.88			1.84			358,357		75
	0.88			0.88			1.26			410,131		84
	0.89			0.89			1.94			384,845		102
	0.90			0.90			2.64			367,328		57
	0.89			0.89			2.41			318,477		71
	0.64	(e)		0.64	(e)		3.58	(e)		147,739		32	(d)
	0.63			0.63			2.10			146,587		75
	0.63			0.63			1.58			168,338		84
	0.64			0.64			2.18			166,524		102
	0.65			0.65			2.88			147,772		57
	0.64			0.64			2.68			105,445		71
	0.39	(e)		0.39	(e)		3.83	(e)		60,495		32	(d)
	0.38			0.38			2.37			65,954		75
	0.38			0.38			1.83			63,717		84
	0.39			0.39			2.45			69,901		102
	0.40			0.40			3.14			70,274		57
	0.39			0.39			2.94			45,264		71
	0.32	(e)		0.32	(e)		3.90	(e)		1,083,109		32	(d)
	0.31			0.32			2.42			1,077,561		75
	0.31			0.31			1.82			1,035,235		84
	0.33			0.33			2.50			896,878		102
	0.34			0.34			3.19			857,139		57
	0.33			0.33			3.00			551,235		71

See Notes to Financial Statements. 389

Financial Highlights (unaudited)(continued)

TOTAL RETURN FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(c)	$	8.76	$	0.17	$	0.01		$	0.18		$	(0.19	)	$	–		$	(0.19	)
11/30/2022		10.54		0.25		(1.68	)		(1.43	)		(0.29	)		(0.06	)		(0.35	)
11/30/2021		10.91		0.19		(0.12	)		0.07			(0.21	)		(0.23	)		(0.44	)
11/30/2020		10.49		0.23		0.46			0.69			(0.27	)		–			(0.27	)
11/30/2019		9.86		0.28		0.66			0.94			(0.31	)		–			(0.31	)
11/30/2018		10.36		0.28		(0.46	)		(0.18	)		(0.32	)		–			(0.32	)
Class C
5/31/2023(c)		8.76		0.15		–	(f)		0.15			(0.16	)		–			(0.16	)
11/30/2022		10.53		0.18		(1.66	)		(1.48	)		(0.23	)		(0.06	)		(0.29	)
11/30/2021		10.90		0.12		(0.11	)		0.01			(0.15	)		(0.23	)		(0.38	)
11/30/2020		10.48		0.17		0.45			0.62			(0.20	)		–			(0.20	)
11/30/2019		9.85		0.21		0.66			0.87			(0.24	)		–			(0.24	)
11/30/2018		10.35		0.21		(0.45	)		(0.24	)		(0.26	)		–			(0.26	)
Class F
5/31/2023(c)		8.76		0.18		–	(f)		0.18			(0.19	)		–			(0.19	)
11/30/2022		10.54		0.24		(1.66	)		(1.42	)		(0.30	)		(0.06	)		(0.36	)
11/30/2021		10.91		0.20		(0.12	)		0.08			(0.22	)		(0.23	)		(0.45	)
11/30/2020		10.48		0.24		0.47			0.71			(0.28	)		–			(0.28	)
11/30/2019		9.86		0.29		0.65			0.94			(0.32	)		–			(0.32	)
11/30/2018		10.36		0.29		(0.46	)		(0.17	)		(0.33	)		–			(0.33	)
Class F3
5/31/2023(c)		8.77		0.19		–	(f)		0.19			(0.20	)		–			(0.20	)
11/30/2022		10.54		0.28		(1.68	)		(1.40	)		(0.31	)		(0.06	)		(0.37	)
11/30/2021		10.91		0.22		(0.11	)		0.11			(0.25	)		(0.23	)		(0.48	)
11/30/2020		10.49		0.27		0.45			0.72			(0.30	)		–			(0.30	)
11/30/2019		9.87		0.31		0.65			0.96			(0.34	)		–			(0.34	)
11/30/2018		10.36		0.31		(0.44	)		(0.13	)		(0.36	)		–			(0.36	)
Class I
5/31/2023(c)		8.78		0.19		–	(f)		0.19			(0.20	)		–			(0.20	)
11/30/2022		10.56		0.28		(1.69	)		(1.41	)		(0.31	)		(0.06	)		(0.37	)
11/30/2021		10.93		0.22		(0.12	)		0.10			(0.24	)		(0.23	)		(0.47	)
11/30/2020		10.50		0.26		0.46			0.72			(0.29	)		–			(0.29	)
11/30/2019		9.88		0.30		0.65			0.95			(0.33	)		–			(0.33	)
11/30/2018		10.38		0.30		(0.45	)		(0.15	)		(0.35	)		–			(0.35	)
Class P
5/31/2023(c)		8.81		0.16		0.01			0.17			(0.18	)		–			(0.18	)
11/30/2022		10.59		0.22		(1.68	)		(1.46	)		(0.26	)		(0.06	)		(0.32	)
11/30/2021		10.96		0.16		(0.11	)		0.05			(0.19	)		(0.23	)		(0.42	)
11/30/2020		10.53		0.21		0.46			0.67			(0.24	)		–			(0.24	)
11/30/2019		9.91		0.25		0.65			0.90			(0.28	)		–			(0.28	)
11/30/2018		10.41		0.25		(0.45	)		(0.20	)		(0.30	)		–			(0.30	)

390 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	$  8.75		2.04	(d)		0.66	(e)		0.66	(e)		3.96	(e)	$	970,370		226	(d)
	8.76		(13.78	)		0.65			0.65			2.60			973,820		461
	10.54		0.68			0.64			0.64			1.79			1,300,031		393
	10.91		6.63			0.66			0.66			2.19			1,416,776		538
	10.49		9.62			0.68			0.68			2.68			1,275,715		736
	9.86		(1.71	)		0.68			0.72			2.74			1,150,292		643
	8.75		1.85	(d)		1.27	(e)		1.27	(e)		3.35	(e)		30,742		226	(d)
	8.76		(14.32	)		1.27			1.27			1.95			34,393		461
	10.53		0.04			1.28			1.28			1.16			59,759		393
	10.90		5.98			1.29			1.29			1.59			85,200		538
	10.48		8.95			1.30			1.30			2.08			118,447		736
	9.85		(2.32	)		1.30			1.35			2.10			123,735		643
	8.75		2.09	(d)		0.56	(e)		0.56	(e)		4.03	(e)		88,683		226	(d)
	8.76		(13.69	)		0.55			0.55			2.45			234,058		461
	10.54		0.78			0.54			0.54			1.88			1,059,760		393
	10.91		6.84			0.56			0.56			2.29			1,013,091		538
	10.48		9.62			0.58			0.58			2.78			960,498		736
	9.86		(1.61	)		0.58			0.62			2.83			822,274		643
	8.76		2.20	(d)		0.36	(e)		0.36	(e)		4.27	(e)		758,125		226	(d)
	8.77		(13.42	)		0.35			0.35			2.91			707,783		461
	10.54		0.97			0.35			0.35			2.07			881,986		393
	10.91		6.95			0.36			0.36			2.49			774,625		538
	10.49		9.83			0.38			0.38			2.98			664,783		736
	9.87		(1.31	)		0.37			0.40			3.05			632,109		643
	8.77		2.16	(d)		0.42	(e)		0.46	(e)		4.21	(e)		1,000,645		226	(d)
	8.78		(13.53	)		0.41			0.45			3.06			762,733		461
	10.56		0.92			0.40			0.44			2.02			433,258		393
	10.93		6.98			0.43			0.47			2.44			414,220		538
	10.50		9.76			0.44			0.48			2.93			405,218		736
	9.88		(1.48	)		0.45			0.52			2.97			376,595		643
	8.80		2.03	(d)		0.91	(e)		0.91	(e)		3.71	(e)		511		226	(d)
	8.81		(14.01	)		0.90			0.90			2.33			515		461
	10.59		0.43			0.89			0.89			1.53			710		393
	10.96		6.45			0.91			0.91			1.94			659		538
	10.53		9.21			0.93			0.93			2.45			528		736
	9.91		(1.93	)		0.93			0.97			2.49			555		643

See Notes to Financial Statements. 391

Financial Highlights (unaudited)(continued)

TOTAL RETURN FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R2
5/31/2023(c)		$  8.76		$0.16		$      –	(f)		$ 0.16			$(0.17	)		$      –			$(0.17	)
11/30/2022		10.54		0.21		(1.68	)		(1.47	)		(0.25	)		(0.06	)		(0.31	)
11/30/2021		10.90		0.15		(0.11	)		0.04			(0.17	)		(0.23	)		(0.40	)
11/30/2020		10.48		0.19		0.45			0.64			(0.22	)		–			(0.22	)
11/30/2019		9.86		0.24		0.65			0.89			(0.27	)		–			(0.27	)
11/30/2018		10.36		0.23		(0.45	)		(0.22	)		(0.28	)		–			(0.28	)
Class R3
5/31/2023(c)		8.76		0.16		0.01			0.17			(0.18	)		–			(0.18	)
11/30/2022		10.54		0.22		(1.68	)		(1.46	)		(0.26	)		(0.06	)		(0.32	)
11/30/2021		10.90		0.16		(0.11	)		0.05			(0.18	)		(0.23	)		(0.41	)
11/30/2020		10.48		0.20		0.45			0.65			(0.23	)		–			(0.23	)
11/30/2019		9.86		0.25		0.65			0.90			(0.28	)		–			(0.28	)
11/30/2018		10.36		0.24		(0.45	)		(0.21	)		(0.29	)		–			(0.29	)
Class R4
5/31/2023(c)		8.76		0.17		0.01			0.18			(0.19	)		–			(0.19	)
11/30/2022		10.54		0.24		(1.68	)		(1.44	)		(0.28	)		(0.06	)		(0.34	)
11/30/2021		10.91		0.18		(0.11	)		0.07			(0.21	)		(0.23	)		(0.44	)
11/30/2020		10.49		0.23		0.45			0.68			(0.26	)		–			(0.26	)
11/30/2019		9.86		0.27		0.66			0.93			(0.30	)		–			(0.30	)
11/30/2018		10.36		0.27		(0.45	)		(0.18	)		(0.32	)		–			(0.32	)
Class R5
5/31/2023(c)		8.76		0.18		0.02			0.20			(0.20	)		–			(0.20	)
11/30/2022		10.54		0.26		(1.68	)		(1.42	)		(0.30	)		(0.06	)		(0.36	)
11/30/2021		10.91		0.21		(0.11	)		0.10			(0.24	)		(0.23	)		(0.47	)
11/30/2020		10.49		0.26		0.45			0.71			(0.29	)		–			(0.29	)
11/30/2019		9.86		0.30		0.66			0.96			(0.33	)		–			(0.33	)
11/30/2018		10.36		0.30		(0.46	)		(0.16	)		(0.34	)		–			(0.34	)
Class R6
5/31/2023(c)		8.77		0.19		–	(f)		0.19			(0.20	)		–			(0.20	)
11/30/2022		10.55		0.28		(1.69	)		(1.41	)		(0.31	)		(0.06	)		(0.37	)
11/30/2021		10.92		0.22		(0.11	)		0.11			(0.25	)		(0.23	)		(0.48	)
11/30/2020		10.49		0.27		0.46			0.73			(0.30	)		–			(0.30	)
11/30/2019		9.87		0.31		0.65			0.96			(0.34	)		–			(0.34	)
11/30/2018		10.37		0.31		(0.45	)		(0.14	)		(0.36	)		–			(0.36	)

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Amount less than $0.01.

392 See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:
Net asset value, end of period		Total return(b) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	$  8.75		1.84	(d)		1.06	(e)		1.06	(e)		3.57	(e)		$   1,236		226	(d)
	8.76		(14.12	)		1.05			1.05			2.18			1,199		461
	10.54		0.37			1.04			1.04			1.39			1,768		393
	10.90		6.21			1.06			1.06			1.81			2,579		538
	10.48		9.08			1.08			1.08			2.31			3,501		736
	9.86		(2.10	)		1.08			1.13			2.31			4,898		643
	8.75		1.89	(d)		0.96	(e)		0.96	(e)		3.67	(e)		27,888		226	(d)
	8.76		(14.03	)		0.95			0.95			2.30			27,760		461
	10.54		0.47			0.95			0.95			1.50			37,846		393
	10.90		6.32			0.96			0.96			1.90			85,403		538
	10.48		9.19			0.98			0.98			2.40			93,652		736
	9.86		(2.00	)		0.98			1.02			2.43			107,380		643
	8.75		2.02	(d)		0.71	(e)		0.71	(e)		3.92	(e)		30,394		226	(d)
	8.76		(13.82	)		0.70			0.70			2.54			30,002		461
	10.54		0.63			0.69			0.69			1.74			44,058		393
	10.91		6.58			0.71			0.71			2.16			58,811		538
	10.49		9.56			0.73			0.73			2.64			66,840		736
	9.86		(1.76	)		0.73			0.77			2.70			63,160		643
	8.76		2.26	(d)		0.46	(e)		0.46	(e)		4.16	(e)		19,945		226	(d)
	8.76		(13.61	)		0.45			0.45			2.74			22,290		461
	10.54		0.88			0.44			0.44			1.99			78,822		393
	10.91		6.85			0.46			0.46			2.40			110,056		538
	10.49		9.84			0.49			0.49			2.88			127,807		736
	9.86		(1.51	)		0.48			0.52			2.94			85,701		643
	8.76		2.19	(d)		0.36	(e)		0.36	(e)		4.27	(e)		191,972		226	(d)
	8.77		(13.50	)		0.35			0.35			2.90			183,807		461
	10.55		0.97			0.35			0.35			2.08			252,862		393
	10.92		7.05			0.36			0.36			2.51			295,096		538
	10.49		9.84			0.38			0.38			2.97			364,578		736
	9.87		(1.40	)		0.37			0.40			3.07			220,216		643

See Notes to Financial Statements. 393

Financial Highlights (unaudited)(continued)

ULTRA SHORT BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period		Total return(b) (%)
Class A
5/31/2023(c)		$  9.80		$0.18		$ 0.07			$ 0.25			$(0.18	)		$  9.87		2.62	(d)
11/30/2022		10.00		0.12		(0.18	)		(0.06	)		(0.14	)		9.80		(0.62	)
11/30/2021		10.04		0.03		(0.03	)		–	(f)		(0.04	)		10.00		(0.03	)
11/30/2020		10.03		0.11		0.01	(g)		0.12			(0.11	)		10.04		1.25
11/30/2019		10.00		0.24		0.03			0.27			(0.24	)		10.03		2.87
11/30/2018		10.01		0.21		(0.02	)		0.19			(0.20	)		10.00		1.84
Class A1
5/31/2023(c)		9.80		0.18		0.07			0.25			(0.18	)		9.87		2.67	(d)
11/30/2022		10.00		0.09		(0.16	)		(0.07	)		(0.13	)		9.80		(0.72	)
11/30/2021		10.04		0.02		(0.03	)		(0.01	)		(0.03	)		10.00		(0.13	)
11/30/2020		10.03		0.07		0.04	(g)		0.11			(0.10	)		10.04		1.15
7/31/2019 to 11/30/2019(h)		10.02		0.05		0.03			0.08			(0.07	)		10.03		0.79	(d)
Class F
5/31/2023(c)		9.80		0.18		0.08			0.26			(0.19	)		9.87		2.64	(d)
11/30/2022		10.00		0.10		(0.16	)		(0.06	)		(0.14	)		9.80		(0.57	)
11/30/2021		10.04		0.04		(0.04	)		–	(f)		(0.04	)		10.00		0.02
11/30/2020		10.03		0.11		0.02	(g)		0.13			(0.12	)		10.04		1.30
11/30/2019		10.00		0.25		0.03			0.28			(0.25	)		10.03		2.82
11/30/2018		10.01		0.22		(0.02	)		0.20			(0.21	)		10.00		1.98
Class F3
5/31/2023(c)		9.80		0.20		0.07			0.27			(0.20	)		9.87		2.72	(d)
11/30/2022		10.00		0.15		(0.19	)		(0.04	)		(0.16	)		9.80		(0.43	)
11/30/2021		10.04		0.05		(0.03	)		0.02			(0.06	)		10.00		0.16
11/30/2020		10.03		0.11		0.03	(g)		0.14			(0.13	)		10.04		1.45
11/30/2019		10.00		0.26		0.03			0.29			(0.26	)		10.03		2.97
11/30/2018		10.01		0.23		(0.02	)		0.21			(0.22	)		10.00		2.13
Class I
5/31/2023(c)		9.80		0.19		0.07			0.26			(0.19	)		9.87		2.69	(d)
11/30/2022		10.00		0.18		(0.23	)		(0.05	)		(0.15	)		9.80		(0.47	)
11/30/2021		10.04		0.05		(0.04	)		0.01			(0.05	)		10.00		0.12
11/30/2020		10.03		0.13		0.01	(g)		0.14			(0.13	)		10.04		1.40
11/30/2019		9.99		0.26		0.04			0.30			(0.26	)		10.03		3.03
11/30/2018		10.01		0.23		(0.03	)		0.20			(0.22	)		9.99		1.99
Class R5
5/31/2023(c)		9.80		0.19		0.07			0.26			(0.19	)		9.87		2.70	(d)
11/30/2022		10.00		0.10		(0.15	)		(0.05	)		(0.15	)		9.80		(0.47	)
11/30/2021		10.04		0.05		(0.04	)		0.01			(0.05	)		10.00		0.12
11/30/2020		10.03		0.13		0.01	(g)		0.14			(0.13	)		10.04		1.41
11/30/2019		10.00		0.26		0.03			0.29			(0.26	)		10.03		2.94
11/30/2018		10.01		0.23		(0.02	)		0.21			(0.22	)		10.00		2.11

394 See Notes to Financial Statements.

Ratios to Average Net Assets:									Supplemental Data:
Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.44	(e)		0.44	(e)		3.75	(e)	$	4,090,148		24	(d)
	0.43			0.44			1.18			5,193,143		48
	0.43			0.43			0.34			10,038,159		72
	0.42			0.45			1.14			12,300,460		93
	0.41			0.48			2.39			11,938,003		46
	0.40			0.49			2.11			6,688,131		23
	0.54	(e)		0.54	(e)		3.66	(e)		3,311		24	(d)
	0.54			0.54			0.95			3,869		48
	0.53			0.53			0.24			13,240		72
	0.52			0.54			0.74			19,403		93
	0.48	(e)		0.55	(e)		1.56	(e)		2,860		46
	0.39	(e)		0.39	(e)		3.68	(e)		470,185		24	(d)
	0.39			0.39			1.03			1,280,935		48
	0.38			0.38			0.38			5,349,686		72
	0.37			0.40			1.15			7,109,132		93
	0.36			0.43			2.47			6,539,665		46
	0.35			0.44			2.18			4,603,442		23
	0.24	(e)		0.24	(e)		3.97	(e)		714,392		24	(d)
	0.24			0.24			1.52			759,273		48
	0.24			0.24			0.53			519,235		72
	0.25			0.26			1.13			804,537		93
	0.22			0.29			2.62			282,582		46
	0.22			0.30			2.27			271,727		23
	0.29	(e)		0.29	(e)		3.93	(e)		4,100,735		24	(d)
	0.28			0.28			1.80			3,872,022		48
	0.28			0.28			0.49			1,285,378		72
	0.27			0.30			1.35			1,258,215		93
	0.26			0.33			2.56			1,803,798		46
	0.25			0.35			2.32			1,291,802		23
	0.29	(e)		0.29	(e)		3.94	(e)		176		24	(d)
	0.28			0.29			1.05			131		48
	0.28			0.28			0.49			592		72
	0.27			0.30			1.31			784		93
	0.26			0.33			2.63			1,369		46
	0.25			0.35			2.29			1,716		23

See Notes to Financial Statements. 395

Financial Highlights (unaudited)(concluded)

ULTRA SHORT BOND FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net asset value, end of period		Total return(b) (%)
Class R6
5/31/2023(c)		$  9.80		$0.19		$ 0.08			$ 0.27			$(0.20	)		$  9.87		2.72	(d)
11/30/2022		10.00		0.15		(0.19	)		(0.04	)		(0.16	)		9.80		(0.43	)
11/30/2021		10.04		0.05		(0.03	)		0.02			(0.06	)		10.00		0.16
11/30/2020		10.03		0.12		0.02	(g)		0.14			(0.13	)		10.04		1.45
11/30/2019		10.00		0.26		0.03			0.29			(0.26	)		10.03		2.96
11/30/2018		10.01		0.24		(0.03	)		0.21			(0.22	)		10.00		2.13

(a)	Calculated using average shares outstanding during the period.
(b)	Total return for Classes A and A1 does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(c)	Unaudited.
(d)	Not annualized.
(e)	Annualized.
(f)	Amount less than $0.01.
(g)	Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statement of Operations for the year ended November 30, 2020, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values of the Fund’s portfolio.
(h)	Commenced on July 31, 2019.

396 See Notes to Financial Statements.

Ratios to Average Net Assets:									Supplemental Data:
Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.24	(e)		0.24	(e)		3.96	(e)	$	62,122		24	(d)
	0.24			0.24			1.52			68,773		48
	0.24			0.24			0.54			86,964		72
	0.25			0.26			1.17			65,008		93
	0.22			0.29			2.55			11,572		46
	0.23			0.30			2.35			7,075		23

See Notes to Financial Statements. 397

Notes to Financial Statements

1. ORGANIZATION  

Lord Abbett Investment Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company and was organized as a Delaware statutory trust on August 16, 1993.

The Trust currently consists of fourteen funds as of May 31, 2023. This report covers the following twelve funds (separately, a “Fund” and collectively, the “Funds”) and their respective active share classes at May 31, 2023:

Funds	Classes
Lord Abbett Convertible Fund (“Convertible Fund”)	A, C, F, F3, I, P, R2, R3, R4, R5, and R6
Lord Abbett Core Fixed Income Fund (“Core Fixed Income Fund”)	A, C, F, F3 I, R2, R3, R4, R5, and R6
Lord Abbett Core Plus Bond Fund (“Core Plus Bond Fund”)	A, C, F, F3, I, R3, R4, R5, and R6
Lord Abbett Corporate Bond Fund (“Corporate Bond Fund”)	A, C, F, F3, I, R2, R3, R4, R5, and R6
Lord Abbett Floating Rate Fund (“Floating Rate Fund”)	A, C, F, F3, I, R2, R3, R4, R5, and R6
Lord Abbett High Yield Fund (“High Yield Fund”)	A, C, F, F3, I, R2, R3, R4, R5, and R6
Lord Abbett Income Fund (“Income Fund”)	A, C, F, F3, I, R2, R3, R4, R5, and R6
Lord Abbett Inflation Focused Fund (“Inflation Focused Fund”)	A, C, F, F3, I, R2, R3, R4, R5, and R6
Lord Abbett Short Duration Core Bond Fund (“Short Duration Core Bond Fund”)	A, C, F, F3, I, R3, R4, R5, and R6
Lord Abbett Short Duration Income Fund (“Short Duration Income Fund”)	A, C, F, F3, I, R2, R3, R4, R5, and R6
Lord Abbett Total Return Fund (“Total Return Fund”)	A, C, F, F3, I, P, R2, R3, R4, R5, and R6
Lord Abbett Ultra Short Bond Fund (“Ultra Short Bond Fund”)	A, A1, F, F3, I, R5, and R6

The Funds’ Class P shares are closed to substantially all new investors, with certain exceptions as set forth in the Funds’ prospectus.

Convertible Fund’s investment objective is to seek current income and the opportunity for capital appreciation to produce a high total return. Corporate Bond Fund’s investment objective is to seek current income. Each of Core Fixed Income Fund’s, Core Plus Bond Fund’s and Total Return Fund’s investment objective is to seek income and capital appreciation to produce a high total return. Floating Rate Fund’s investment objective is to seek a high level of current income. High Yield Fund’s investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return. Each of Income Fund’s and Short Duration Income Fund’s investment objective is to seek a high level of income consistent with preservation of capital. Inflation Focused Fund’s primary investment objective is to provide investment returns that exceed the rate of inflation in the U.S. economy over a full economic cycle. As a secondary objective, the Fund seeks current income. Each of Short Duration Core Bond Fund’s and Ultra Short Bond Fund’s investment objective is to seek current income consistent with the preservation of capital.

Each class of shares has different expenses and dividends. A front-end sales charge is normally added to the net asset value (“NAV”) for Class A and A1 shares. There is no front-end sales charge in the case of Class C, F, F3, I, P, R2, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge (“CDSC”) in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); Class A1 shares purchased without a sales charge and redeemed before the first day of the month in which the eighteenth month anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); and Class C shares redeemed before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a

398

Notes to Financial Statements (continued)

business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Funds or financial intermediary through which a shareholder purchased Class C shares has records verifying that the C shares have been held at least eight years.

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. These Funds are considered investment companies under U.S. GAAP and follow the accounting and reporting guidance applicable to investment companies.

2. SIGNIFICANT ACCOUNTING POLICIES  

(a)	Investment Valuation–Under procedures approved by the Funds’ Board of Trustees (the “Board”), the Board has designated the determination of fair value of the Funds’ portfolio investments to Lord, Abbett & Co. LLC (“Lord Abbett”) as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a Pricing Committee that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
	Securities actively traded on any recognized U.S. or non-U.S. exchange or on The NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Board has approved the use of an independent fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Fixed income securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services’ own electronic data processing techniques. Floating rate loans are valued at the average of bid and ask quotations obtained from dealers in loans on the basis of prices supplied by independent pricing services. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Swaps, options and options on swaps (“swaptions”) are valued daily using independent pricing services or quotations from broker/dealers to the extent available.
	Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may

399

Notes to Financial Statements (continued)

	use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.
	Investments in open-end money market mutual funds are valued at their NAV as of the close of each business day.Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.
(b)	Security Transactions–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Realized and unrealized gains (losses) are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.
(c)	Investment Income–Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the Statements of Operations. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.
(d)	Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.
	Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s filed U.S. federal tax returns remains open for the fiscal years ended November 30, 2019 through November 30, 2022. The statutes of limitations on the Trust’s state and local tax returns may remain open for an additional year depending upon each Fund’s jurisdiction.
(e)	Expenses–Expenses incurred by the Trust that do not specifically relate to an individual fund are generally allocated to the Funds within the Trust on a pro rata basis by relative net assets. Expenses, excluding class-specific expenses, are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. In addition, Class F3 and R6 bear only their class-specific shareholder servicing expenses. Class A, A1, C, F, P, R2, R3 and R4 shares bear their class-specific share of all expenses and fees relating to the Funds’ 12b-1 Distribution Plan.
(f)	Foreign Transactions–The books and records of each Fund are maintained in U.S. dollars and transactions denominated in foreign currencies are recorded in each Fund’s records at the rate prevailing when earned or recorded. Asset and liability accounts that are denominated in foreign currencies are adjusted daily to reflect current exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies in each Fund’s Statement of Operations. The resultant exchange gains and losses upon settlement of such transactions, if applicable, are included in Net realized gain (loss) on foreign currency related transactions in each Fund’s Statement of Operations. The Funds do not isolate that portion of the results of

400

Notes to Financial Statements (continued)

	operations arising as a result of changes in the foreign exchange rates from the changes in market prices of the securities.
	Each Fund uses foreign currency exchange contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.
(g)	Forward Foreign Currency Exchange Contracts–Each Fund may enter into forward foreign currency exchange contracts in order to reduce exposure to changes in foreign currency exchange rates on foreign portfolio holdings, or gain or reduce exposure to foreign currency solely for investment purposes. A forward foreign currency exchange contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated rate. The contracts are valued daily at forward exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts in each Fund’s Statement of Operations. The gain (loss) arising from the difference between the U.S. dollar cost of the original contract and the value of the forward foreign currency in U.S. dollars upon closing of such contracts is included, if applicable, in Net realized gain (loss) on forward foreign currency exchange contracts in each Fund’s Statement of Operations.
(h)	Futures Contracts–Each Fund may purchase and sell futures contracts to manage cash, to adjust exposure to the direction of interest rates or as a substitute position in lieu of holding the underlying asset on which the instrument is based. At the time of entering into a futures transaction, an investor is required to deposit and maintain a specified amount of cash or eligible securities called “initial margin.” Subsequent payments made or received by the Fund called “variation margin” are made on a daily basis as the market price of the futures contract fluctuates. Each Fund will record an unrealized gain (loss) based on the amount of variation margin. When a contract is closed, a realized gain (loss) is recorded equal to the difference between the opening and closing value of the contract.
(i)	Repurchase Agreements–Each Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. Each Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, a Fund may incur a loss upon disposition of the securities.
(j)	When-Issued, Forward Transactions or To-Be-Announced (“TBA”) Transactions–Each Fund may purchase portfolio securities on a when-issued or forward basis. When-issued, forward transactions or TBA transactions involve a commitment by a Fund to purchase securities, with payment and delivery (“settlement”) to take place in the future, in order to secure what is considered to be an advantageous price or yield at the time of entering into the transaction. During the period between purchase and settlement, the fair value of the securities will fluctuate and assets consisting of cash and/or marketable securities (normally short-term U.S. Government or U.S. Government sponsored enterprise securities) marked to market daily in an amount sufficient to make payment at settlement will be segregated at each Fund’s custodian in order to pay for the commitment. At the time each Fund makes the commitment to purchase a security on a when-issued basis, it will record the transaction and

401

Notes to Financial Statements (continued)

	reflect the liability for the purchase and fair value of the security in determining its NAV. Each Fund, generally, has the ability to close out a purchase obligation on or before the settlement date rather than take delivery of the security. Under no circumstances will settlement for such securities take place more than 120 days after the purchase date.
(k)	TBA Sale Commitments–Each Fund may enter into TBA sale commitments to hedge its positions or to sell mortgage-backed securities it owns under delayed delivery arrangements. Proceeds of TBA sale commitments are not received until the contractual settlement date. During the time a TBA sale commitment is outstanding, equivalent deliverable securities, or an offsetting TBA purchase commitment deliverable on or before the sale commitment date, are held as “cover” for the transaction. Unsettled TBA sale commitments are valued at the current market value of the underlying securities, according to the procedures described under “Investment Valuation” above. The contract is adjusted to market value daily and the change in market value is recorded by each Fund as unrealized appreciation (depreciation). If the TBA sale (purchase) commitment is closed through the acquisition of an offsetting purchase (sale) commitment, each Fund realizes a gain or loss from the sale of the securities based upon the unit price established at the date the commitment was entered into.
(l)	Mortgage Dollar Rolls–Each Fund may enter into mortgage dollar rolls in which a Fund sells mortgage-backed securities for delivery in the current month and simultaneously contracts with the same counterparty to repurchase similar (same type, coupon and maturity) but not identical securities on a specified future date. During the roll period, each Fund loses the right to receive principal (including prepayments of principal) and interest paid on the securities sold.
(m)	Commercial Paper–Each Fund may purchase commercial paper. Commercial paper consists of unsecured promissory notes issued by corporations to finance short-term credit needs. Commercial paper is issued in bearer form with maturities generally not exceeding nine months. Commercial paper obligations may include variable amount master demand notes.
(n)	Reverse Repurchase Agreements–Each Fund may enter into reverse repurchase agreements. In a reverse repurchase agreement, a Fund sells a security to a securities dealer or bank for cash and also agrees to repurchase the same security later at a set price. Reverse repurchase agreements expose the Fund to credit risk (that is, the risk that the counterparty will fail to resell the security to the Fund). Engaging in reverse repurchase agreements also may involve the use of leverage, in that a Fund may reinvest the cash it receives in additional securities. Reverse repurchase agreements involve the risk that the market value of the securities to be repurchased by the Fund may decline below the repurchase price.
	For the period ended May 31, 2023, the Funds did not invest in reverse repurchase agreements.
(o)	Floating Rate Loans–Each Fund may invest in floating rate loans, which usually take the form of loan participations and assignments. Loan participations and assignments are agreements to make money available to U.S. or foreign corporations, partnerships or other business entities (the “Borrower”) in a specified amount, at a specified rate and within a specified time. A loan is typically originated, negotiated and structured by a U.S. or foreign bank, insurance company or other financial institution (the “Agent”) for a group of loan investors (“Loan Investors”). The Agent typically administers and enforces the loan on behalf of the other Loan Investors in the syndicate and may hold any collateral on behalf of the Loan Investors. Such loan participations and assignments are typically senior, secured and collateralized in nature. Each Fund records an

402

Notes to Financial Statements (continued)

investment when the Borrower withdraws money and records interest as earned. These loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. These base lending rates are generally the prime rate offered by a designated U.S. bank or London InterBank Offered Rate (“LIBOR”).

The loans in which each Fund invests may be subject to some restrictions on resale. For example, each Fund may be contractually obligated to receive approval from the Agent and/or Borrower prior to the sale of these investments. Each Fund generally has no right to enforce compliance with the terms of the loan agreement with the Borrower. As a result, each Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower (“Intermediate Participants”). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, each Fund may incur certain costs and delays in realizing payment or may suffer a loss of principal and/or interest.

Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. Until demanded by the Borrower, unfunded commitments are not recognized as an asset on the Statements of Assets and Liabilities. Unrealized appreciation/depreciation on unfunded commitments, if any, on the Statements of Assets and Liabilities represents mark to market of the unfunded portion of each Fund’s floating rate notes.

As of May 31, 2023, the following Fund had unfunded loan commitments:

Floating Rate Fund
Borrower	Principal Amount		Market Value		Cost		Unrealized Appreciation/ Depreciation
ABG Intermediate Holdings 2 LLC 2023 Delayed Draw Term Loan	$	1,351,308	$	1,324,559	$	1,351,308	$	(26,749	)
Athenahealth Group, Inc. 2022 Delayed Draw Term Loan		3,972,647		3,754,151		3,916,999		(162,848	)
Dermatology Intermediate Holdings III, Inc 2022 Delayed Draw Term Loan		47,657		46,465		47,150		(685	)
Tank Holding Corp. 2023 Incremental Delayed Draw Term Loan		2,609,502		2,537,741		2,531,482		6,259
	$	7,981,114	$	7,662,916	$	7,846,939	$	(184,023	)

(p) Inflation-Linked Derivatives–Each Fund may invest in inflation-linked derivatives, such as Consumer Price Index Swap Contract Agreements (“CPI swap contracts”). A CPI swap contract is a contract in which one party agrees to pay a fixed rate in exchange for a variable rate, which is the rate of change in the CPI during the life of the contract. Payments are based on a notional amount of principal. The Fund will normally enter into CPI swap contracts on a zero coupon basis, meaning that the floating rate will be based on the cumulative CPI during the life of the contract, and the fixed rate will compound until the swap contract’s maturity date, at which point the payments are netted. The swap contracts are valued daily and any unrealized gain (loss) is included in the Net change in unrealized appreciation/depreciation on swap contracts in the Fund’s Statement of Operations. A liquidation payment received or made at the termination or maturity of the swap contract is recorded in realized gain (loss) and

403

Notes to Financial Statements (continued)

	is included in Net realized gain (loss) on swap contracts in the Fund’s Statement of Operations. Daily changes in valuation of centrally cleared CPI swap contracts, if any, are recorded as a receivable or payable for the change in value as appropriate (“variation margin”) on the Statements of Assets and Liabilities. For the centrally cleared CPI swap contracts, there was minimal counterparty risk to the Fund, since such CPI swap contracts entered into were traded through a central clearinghouse, which guarantees against default.
(q)	Credit Default Swap Contracts–Each Fund may enter into credit default swap contracts in order to hedge credit risk or for speculation purposes. As a seller of a credit default swap contract (“seller of protection”), a Fund is required to pay the notional amount or other agreed- upon value of a referenced debt obligation to the counterparty in the event of a default by or other credit event involving the referenced issuer, obligation or index. In return, a Fund receives from the counterparty a periodic stream of payments over the term of the contract.
	As a purchaser of a credit default swap contract (“buyer of protection”), a Fund would receive the notional amount or other agreed upon value of a referenced debt obligation from the counterparty in the event of default by or other credit event involving the referenced issuer, obligation or index. In return, a Fund makes periodic payments to the counterparty over the term of the contracts, provided no event of default has occurred.
	These credit default swap contracts may have as a reference obligation corporate or sovereign issuers or credit indexes. These credit indexes are comprised of a basket of securities representing a particular sector of the market.
	Credit default swap contracts are fair valued based upon quotations from counterparties, brokers or market-makers and the change in value, if any, is recorded as an unrealized appreciation or depreciation. For a credit default swap contract sold by a Fund, payment of the agreed-upon amount made by a Fund in the event of default of the referenced debt obligation is recorded as the cost of the referenced debt obligation purchased/received. For a credit default swap contract purchased by a Fund, the agreed-upon amount received by a Fund in the event of default of the referenced debt obligation is recorded as proceeds from sale/delivery of the referenced debt obligation and the resulting gain or loss realized on the referenced debt obligation is recorded as such by a Fund.
	Any upfront payments made or received upon entering a credit default swap contract would be amortized or accreted over the life of the swap contract and recorded as realized gains or losses. Collateral, in the form of cash or securities, may be required to be held in segregated accounts with the custodian bank or broker in accordance with the swap contract agreement. The value and credit rating of each credit default swap contract where a Fund is the seller of protection, are both measures of the current payment/performance risk of the swap contract. As the value of the swap contract changes as a positive or negative percentage of the total notional amount, the payment/performance risk may decrease or increase, respectively. The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap contract agreement would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap contract agreements entered into by a Fund for the same referenced entity or entities.
	Entering into credit default swap contracts involves credit and market risk. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the

404

Notes to Financial Statements (continued)

	agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates, and that Lord Abbett does not correctly predict the creditworthiness of the issuers of the reference obligation on which the credit default swap contract is based. For the centrally cleared credit default swap contracts, there was minimal counterparty risk to the Funds, since such credit default swap contracts entered into were traded through a central clearinghouse, which guarantees against default.
(r)	Interest Rate Swap Contracts–Each Fund may enter into interest rate swap contract agreements. Pursuant to interest rate swap contract agreements, a Fund either makes floating-rate payments to the counterparty (or Central counterparty clearing house (“CCP”) in the case of centrally cleared swap contracts) based on a benchmark interest rate in exchange for fixed-rate payments or a Fund makes fixed-rate payments to the counterparty or CCP in exchange for payments on a floating benchmark interest rate. Payments received or made, including amortization of upfront payments/receipts, are recorded as realized gains or losses. During the term of the outstanding swap agreement, changes in the underlying value of the swap are recorded as unrealized gains or losses. For centrally cleared swap contracts, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. The value of the swap contract is determined by changes in the relationship between two rates of interest. A Fund is exposed to credit loss in the event of non-performance by the swap contract counterparty. In the case of centrally cleared swap contracts, counterparty risk is minimal due to protections provided by the CCP. Risk may also arise from movements in interest rates.
(s)	Total Return Swap Contracts–Each Fund may enter into total return swap contract agreements to obtain exposure to a security or market without owning such security or investing directly in that market. Each Fund may agree to make payments that are the equivalent of interest in exchange for the right to receive payments equivalent to any appreciation in the value of an underlying security, index or other asset, as well as receive payments equivalent to any distributions made on that asset, over the term of the swap contract. If the value of the asset underlying a total return swap contract declines over the term of the swap contract, each Fund also may be required to pay an amount equal to that decline in value to their counterparty.
(t)	Options–Each Fund may purchase and write exchange- listed and over-the-counter put or call options on securities, stock indices, currencies and other financial instruments for hedging purposes, to enhance portfolio returns and reduce overall volatility. When a Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded as a liability in the Statements of Assets and Liabilities. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts. Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized

405

Notes to Financial Statements (continued)

losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract. Realized and Change in Unrealized gains and losses on purchased options are included in realized and change in unrealized gains and losses on investments.

(u)

Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below:

•	Level 1 –	unadjusted quoted prices in active markets for identical investments;
•	Level 2 –	other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
•	Level 3 –	significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

A summary of inputs used in valuing each Fund’s investments as of May 31, 2023 and, if applicable, Level 3 rollforwards for the six months then ended is included in each Fund’s Schedule of Investments.

Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

3. MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES  

Management Fee

The Trust has a management agreement with Lord Abbett, pursuant to which Lord Abbett provides each Fund with investment management services and executive and other personnel, provides office space and pays for ordinary and necessary office and clerical expenses relating to research and statistical work and supervision of each Fund’s investment portfolio. The management fee is accrued daily and payable monthly.

406

Notes to Financial Statements (continued)

The management fee is based on each Fund’s average daily net assets at the following annual rates:

Convertible Fund		Core Fixed Income Fund
First $1 billion	.70%	First $1 billion	.24%
Next $1 billion	.60%	Next $1 billion	.21%
Over $2 billion	.57%	Over $2 billion	.20%
Core Plus Bond Fund		Corporate Bond Fund
First $4 billion	.28%	First $2 billion	.40%
Next $11 billion	.26%	Over $2 billion	.35%
Over $15 billion	.25%
Floating Rate Fund		High Yield Fund
First $1 billion	.50%	First $1 billion	.60%
Over $1 billion	.45%	Next $1 billion	.55%
		Over $2 billion	.50%
Income Fund		Inflation Focused Fund
First $3 billion	.38%	First $2 billion	.30%
Next $7 billion	.35%	Next $3 billion	.28%
Over $10 billion	.34%	Over $5 billion	.26%
Short Duration Core Bond Fund		Short Duration Income Fund
First $1 billion	.30%	First $1 billion	.35%
Next $1 billion	.25%	Next $1 billion	.30%
Over $2 billion	.20%	Over $2 billion	.25%
Total Return Fund		Ultra Short Bond Fund	.17%
First $4 billion	.28%
Next $11 billion	.26%
Over $15 billion	.25%

For the six months ended May 31, 2023, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund’s average daily net assets:

	Net Effective Management Fee
Convertible Fund	.70%
Core Fixed Income Fund	.22%
Core Plus Bond Fund	.28%
Corporate Bond Fund	.00%
Floating Rate Fund	.46%
High Yield Fund	.53%
Income Fund	.38%
Inflation Focused Fund	.30%
Short Duration Core Bond Fund	.16%
Short Duration Income Fund	.25%
Total Return Fund	.28%
Ultra Short Bond Fund	.17%

407

Notes to Financial Statements (continued)

In addition, Lord Abbett provides certain administrative services to each Fund pursuant to an Administrative Services Agreement in return for a fee at an annual rate of .04% of each Fund’s average daily net assets. The fund administration fee is accrued daily and payable monthly. Lord Abbett voluntarily waived the following administration fees during the six months ended May 31, 2023:

Fund	Fund Administration Fee
Convertible Fund	$	9,734
Core Fixed Income Fund		23,162
Core Plus Bond Fund		13,272
Corporate Bond Fund		2,976
Floating Rate Fund		58,516
High Yield Fund		60,468
Income Fund		19,887
Inflation Focused Fund		32,392
Short Duration Core Bond Fund		8,711
Short Duration Income Fund		273,268
Total Return Fund		29,192
Ultra Short Bond Fund		61,126

For the six months ended May 31, 2023 and continuing through March 31, 2024, Lord Abbett has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses for each class, excluding certain of the Funds’ expenses, to the following annual rates:

	Effective April 1, 2023		Prior to April 1, 2023
	Classes		Classes
Fund	A,C,F,I,R2,R3, R4 and R5	F3 and R6	A,C,F,I,R2,R3, R4 and R5	F3 and R6
Core Plus Bond Fund	.48%	.40%	.48%	.39%
Corporate Bond Fund	.48%	.38%	.48%	.44%
Short Duration Core Bond Fund	.40%	.30%	.40%	.33%

For the six months ended May 31, 2023 and continuing through March 31, 2024, Lord Abbett has contractually agreed to waive Core Fixed Income Fund’s and Total Return Fund’s Class I shareholder servicing expenses at an annual rate of .04% of each Fund’s average daily net assets.

All contractual management fee waivers and expense reimbursement agreements between the Funds and Lord Abbett may be terminated only on approval of the Board.

12b-1 Distribution Plan

Each Fund has adopted a distribution plan with respect to Class A, A1, C, F, P, R2, R3 and R4 shares pursuant to Rule 12b-1 under the Act, which provides for the payment of ongoing distribution and service fees to Lord Abbett Distributor LLC (the “Distributor”), an affiliate of Lord Abbett. The distribution and service fees are accrued daily and payable monthly. The following annual rates have been authorized by the Board pursuant to the plan:

Fees*	Class A			Class A1			Class C(1)		Class F(2)		Class P		Class R2		Class R3		Class R4
Service		0.15%			0.25%	(4)		0.25%		–		0.25%		0.25%		0.25%		0.25%
Distribution		0.05%	(3)		–			0.75%		0.10%		0.20%		0.35%		0.25%		–

*	The Funds may designate a portion of the aggregate fee to service activities for the purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitation.
(1)	The 12b-1 fee each Fund pays on Class C shares is a blended rate based on 1.00% of each Fund’s average daily net assets attributable to Class C shares held for less than one year and .80% (.25% service, .55% distribution) of each Fund’s average daily net assets attributable to Class C shares for one year or more. All Class C shareholders of a Fund will bear 12b-1 fees at the same rate.
(2)	The Class F share Rule 12b-1 fees may be designated as a service fee in limited circumstances as described in the Funds’ prospectus.
(3)	Distribution fees not applicable to Ultra Short Bond Fund.
(4)	Class A1 is only for Ultra Short Bond Fund.

408

Notes to Financial Statements (continued)

Commissions

Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, for the six months ended May 31, 2023:

	Distributor Commissions		Dealers’ Concessions
Convertible Fund	$	2,829	$	20,511
Core Fixed Income Fund		37,896		411,242
Core Plus Bond Fund		14,462		134,558
Corporate Bond Fund		419		2,579
Floating Rate Fund		24,474		255,182
High Yield Fund		20,387		146,675
Income Fund		43,288		404,597
Inflation Focused Fund		2,428		13,921
Short Duration Core Bond Fund		5,913		57,890
Short Duration Income Fund		169,923		1,781,401
Total Return Fund		31,006		232,001
Ultra Short Bond Fund		–		1,025

Distributor received the following amount of CDSCs for the six months ended May 31, 2023:

	Class A		Class C
Convertible Fund	$	8	$	1,121
Core Fixed Income Fund		8,425		2,912
Core Plus Bond Fund		1,567		1,235
Corporate Bond Fund		–		–
Floating Rate Fund		137,662		23,127
High Yield Fund		4,602		7,332
Income Fund		13,022		831
Inflation Focused Fund		115,923		6,394
Short Duration Core Bond Fund		–		–
Short Duration Income Fund		170,603		55,010
Total Return Fund		3,095		307
Ultra Short Bond Fund		1,147		–

Other Related Parties

As of May 31, 2023, the percentages of Convertible Fund’s, Core Fixed Income Fund’s, High Yield Fund’s, Income Fund’s, Inflation Focused Fund’s, Short Duration Income Fund’s and Ultra Short Bond Fund’s outstanding shares owned by each Fund that invests principally in affiliated mutual funds managed by Lord Abbett (“Fund of Funds”) were as follows:

Fund of Funds	Convertible Fund		Core Fixed Income Fund		High Yield Fund		Income Fund		Inflation Focused Fund		Short Duration Income Fund		Ultra Short Bond
Lord Abbett Multi-Asset Balanced Opportunity		3.04%		12.18%		2.94%		1.32%		4.50%		0.04%		1.83%
Lord Abbett Multi-Asset Income Fund		0.41%		10.99%		1.84%		0.60%		3.10%		0.02%		0.92%

One Trustee and certain of the Trust’s officers have an interest in Lord Abbett.

409

Notes to Financial Statements (continued)

4. DISTRIBUTIONS AND CAPITAL LOSS CARRYFORWARDS  

Dividends from net investment income, if any, are declared daily and paid monthly for Core Fixed Income Fund, Core Plus Bond Fund, Corporate Bond Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation Focused Fund, Short Duration Core Bond Fund, Short Duration Income Fund, Total Return Fund and Ultra Short Bond Fund and declared and paid quarterly for Convertible Fund. Taxable net realized gains from investment transactions, reduced by allowable capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amounts of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from accounting principles generally accepted in the United States of America. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for tax purposes, are reported as a tax return of capital.

The tax character of distributions paid during the six months ended May 31, 2023 and fiscal year ended November 30, 2022 was as follows:

			Convertible Fund		Core Fixed Income Fund
	Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022		Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022
Distributions paid from:
Ordinary income	$	15,622,732	$	114,268,357	$	51,658,388	$	54,463,362
Net long-term capital gains		–		131,835,772		–		7,484,048
Total distributions paid	$	15,622,732	$	246,104,129	$	51,658,388	$	61,947,410
			Core Plus Bond Fund				Corporate Bond Fund
	Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022		Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022
Distributions paid from:
Ordinary income	$	25,116,115	$	16,665,257	$	147,046	$	250,609
Net long-term capital gains		–		84,595		–		175,812
Total distributions paid	$	25,116,115	$	16,749,852	$	147,046	$	426,421
			Floating Rate Fund				High Yield Fund
	Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022		Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022
Distributions paid from:
Ordinary income	$	226,717,528	$	351,397,149	$	141,506,057	$	326,682,368
Net long-term capital gains		–		–		–		–
Tax return of capital		–		–		–		11,819,896
Total distributions paid	$	226,717,528	$	351,397,149	$	141,506,057	$	338,502,264

410

Notes to Financial Statements (continued)

				Income Fund		Inflation Focused Fund
	Six Months Ended 05/31/2023 (unaudited)			Year Ended 11/30/2022		Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022
Distributions paid from:
Ordinary income	$	65,784,498		$	109,569,895	$	46,055,211	$	112,587,665
Net long-term capital gains		–			50,225,909		–		–
Total distributions paid	$	65,784,498		$	159,795,804	$	46,055,211	$	112,587,665
		Short Duration Core Bond Fund					Short Duration Income Fund
	Six Months Ended 05/31/2023 (unaudited)			Year Ended 11/30/2022		Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022
Distributions paid from:
Ordinary income	$	7,639,883		$	6,615,359	$	1,068,079,979	$	1,734,371,253
Net long-term capital gains		–			–		–		–
Total distributions paid	$	7,639,883		$	6,615,359	$	1,068,079,979	$	1,734,371,253
			Total Return Fund				Ultra Short Bond Fund
	Six Months Ended 05/31/2023 (unaudited)			Year Ended 11/30/2022		Six Months Ended 05/31/2023 (unaudited)		Year Ended 11/30/2022
Distributions paid from:
Ordinary income	$	67,872,179		$	108,256,354	$	194,790,564	$	191,847,829
Net long-term capital gains		–			24,256,431		–		–
Total distributions paid	$	67,872,179		$	132,512,785	$	194,790,564	$	191,847,829

As of May 31, 2023, the following funds had capital losses, which will carry forward indefinitely:

	Indefinite
Convertible Fund	$	201,385,694
Core Fixed Income Fund		226,822,149
Core Plus Bond Fund		49,540,218
Corporate Bond Fund		653,174
Floating Rate Fund		1,751,021,834
High Yield Fund		481,086,791
Income Fund		298,180,953
Inflation Focused Fund		401,850,697
Short Duration Core Bond Fund		10,639,393
Short Duration Income Fund		4,923,003,112
Total Return Fund		427,117,640
Ultra Short Bond Fund		135,863,175

411

Notes to Financial Statements (continued)

As of May 31, 2023, the aggregate unrealized security gains and losses on investments and other financial instruments based on cost for U.S. federal income tax purposes were as follows:

		Convertible Fund			Core Fixed Income Fund
Tax cost		$	708,171,244		$	3,293,218,517
Gross unrealized gain			23,661,056			10,664,305
Gross unrealized loss			(37,185,780	)		(89,857,576	)
Net unrealized security gain/(loss)		$	(13,524,724	)	$	(79,193,271	)
		Core Plus Bond Fund			Corporate Bond Fund
Tax cost		$	1,525,467,528		$	7,397,713
Gross unrealized gain			6,643,116			31,653
Gross unrealized loss			(30,381,439	)		(608,256	)
Net unrealized security gain/(loss)		$	(23,738,323	)	$	(576,603	)
		Floating Rate Fund			High Yield Fund
Tax cost		$	5,284,687,805		$	4,487,300,866
Gross unrealized gain			42,105,453			37,082,658
Gross unrealized loss			(198,166,267	)		(358,009,139	)
Net unrealized security gain/(loss)		$	(156,060,814	)	$	(320,926,481	)
		Income Fund			Inflation Focused Fund
Tax cost		$	3,105,749,249		$	1,751,774,385
Gross unrealized gain			17,200,219			42,827,239
Gross unrealized loss			(192,921,134	)		(100,318,616	)
Net unrealized security gain/(loss)		$	(175,720,915	)	$	(57,491,377	)
	Short Duration Core Bond Fund				Short Duration Income Fund
Tax cost		$	375,111,533		$	50,270,917,099
Gross unrealized gain			592,444			54,709,679
Gross unrealized loss			(7,762,775	)		(3,464,476,892	)
Net unrealized security gain/(loss)		$	(7,170,331	)	$	(3,409,767,213	)
		Total Return Fund			Ultra Short Bond Fund
Tax cost		$	3,722,248,081		$	9,666,150,729
Gross unrealized gain			15,265,881			4,464,045
Gross unrealized loss			(174,203,519	)		(110,993,100	)
Net unrealized security gain/(loss)		$	(158,937,638	)	$	(106,529,055	)

The difference between book-basis and tax-basis unrealized gains (losses) is attributable to the tax treatment of certain securities, certain distributions, amortization of premium, other financial instruments and wash sales.

412

Notes to Financial Statements (continued)

5. PORTFOLIO SECURITIES TRANSACTIONS

Purchases and sales of investment securities (excluding short-term investments) for the six months ended May 31, 2023 were as follows:

	U.S. Government Purchases		Non-U.S. Government Purchases		U.S. Government Sales		Non-U.S. Government Sales
Convertible Fund	$	-	$	427,096,508	$	-	$	669,119,319
Core Fixed Income Fund		7,040,582,404		1,021,029,511		6,887,125,383		599,786,087
Core Plus Bond Fund		2,857,275,022		789,540,606		2,736,652,678		281,077,926
Corporate Bond Fund		2,850,867		2,926,618		2,997,661		2,646,533
Floating Rate Fund		-		1,995,558,456		-		3,333,428,198
High Yield Fund		-		1,770,277,217		-		2,152,304,774
Income Fund		551,421,915		1,338,914,392		761,337,359		880,132,699
Inflation Focused Fund		44,648,088		156,295,967		43,160,874		922,588,202
Short Duration Core Bond Fund		108,947,480		172,758,219		100,752,435		71,520,477
Short Duration Income Fund		4,862,000,077		9,923,836,980		5,285,420,594		10,728,688,724
Total Return Fund		6,642,826,244		1,018,991,963		6,701,994,023		1,024,983,066
Ultra Short Bond Fund		381,557,964		1,659,729,646		435,890,684		4,015,482,694

Each Fund is permitted to purchase and sell securities (“cross-trade”) from and to other Lord Abbett funds or client accounts pursuant to procedures approved by the Board in compliance with Rule 17a-7 under the Act (the “Rule”). Each cross-trade is executed at a fair market price in compliance with provisions of the Rule. For the six months ended May 31, 2023, the following Fund engaged in cross-trades:

Fund	Sales		Gain (Loss		)
High Yield Fund	$	4,088,600	$	(164,006	)

6. DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  

Each Fund except for Corporate Bond Fund, Inflation Focused Fund, Short Duration Core Bond Fund and Ultra Short Bond Fund entered into forward foreign currency exchange contracts for the six months ended May 31, 2023 (as described in Note 2(g)). A forward foreign currency exchange contract reduces each Fund’s exposure to changes in the value of the currency it will deliver (or settle in cash) and increases its exposure to changes in the value of the currency it will receive (or settle in cash) for the duration of the contract. Each Fund’s use of forward foreign currency exchange contracts involves the risk that Lord Abbett will not accurately predict currency movements, and each Fund’s returns could be reduced as a result. Forward foreign currency exchange contracts are subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time. Each Fund’s risk of loss from counterparty credit risk is the unrealized appreciation on forward foreign currency exchange contracts and deposits with brokers for collateral.

Each Fund except for Convertible Fund entered into U.S. Treasury futures contracts for the six months ended May 31, 2023 (as described in Note 2(h)) to economically hedge against changes in interest rates. The Funds bear the risk of interest rates moving unexpectedly, in which case the Funds may not achieve the anticipated benefits of the futures contracts and realize a loss. There is minimal counterparty credit risk to the Funds since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees futures against default.

413

Notes to Financial Statements (continued)

Inflation Focused Fund, Short Duration Core Bond Fund and Short Duration Income Fund entered into CPI swap contracts for the six months ended May 31, 2023 (as described in Note 2(p)) to speculate the rate of inflation in the U.S. economy. The Fund’s use of CPI swap contracts involves the risk that Lord Abbett will not accurately predict expectations of inflation or interest rates, and the Fund’s returns could be reduced as a result. The Fund’s risk of loss from counterparty credit risk is the unrealized appreciation on CPI swap contracts. For the centrally cleared CPI swap contracts, there is minimal counterparty credit risk to the Fund since these CPI swap contracts are traded through a central clearinghouse. As a counterparty to all centrally cleared CPI swap contracts, the clearinghouse guarantees CPI swap contracts against default.

All Funds except Convertible Fund, Inflation Focused Fund, Short Duration Core Bond Fund and Ultra Short Bond Fund entered into credit default swap contracts for the six months ended May 31, 2023 (as described in Note 2(q)) for investment purposes, to economically hedge credit risk or for speculative purposes. Credit default swap contracts involve the exchange of a fixed rate premium for protection against the loss in value of an underlying security in the event of a defined credit event, such as payment default or bankruptcy. Under a credit default swap one party acts as a guarantor by receiving the fixed periodic payment in exchange for the commitment to purchase the underlying security at par if the defined credit event occurs. Upon the occurrence of a defined credit event, the difference between the value of the reference obligation and the swap contract’s notional amount is recorded as realized gain or loss on swap transactions in the Statements of Operations. Each Fund’s maximum risk of loss from counterparty risk, either as the protection seller or as the protection buyer, is the fair value of the contract. For the centrally cleared credit default swap contracts, there is minimal counterparty credit risk to the Funds since these credit default swap contracts are traded through a central clearinghouse. As a counterparty to all centrally cleared credit default swap contracts, the clearinghouse guarantees credit default swap contracts against default.

Floating Rate Fund entered into total return swap contracts on indexes for the six months ended May 31, 2023 (as described in note 2(s)) to hedge credit risk. The Fund may enter into total return swap contracts agreements to obtain exposure to a security or market without owning such security or investing directly in that market. The Fund may agree to make payments that are the equivalent of interest in exchange for the right to receive payments equivalent to any appreciation in the value of an underlying security, index or other asset, as well as receive payments equivalent to any distributions made on that asset, over the term of the swap. If the value of the asset underlying a total return swap declines over the term of the swap, the Fund also may be required to pay an amount equal to that decline in value to its counterparty.

All Funds except Convertible Fund, Corporate Bond Fund, and Ultra Short Bond Fund entered into interest rate swap contracts for the six months ended May 31, 2023 (as described in Note 2(r)) in order to enhance returns or hedge against interest rate risk. Interest rate swap contracts are agreements in which one party pays a stream of interest payments, either fixed or floating, for another party’s stream of interest payments, either fixed or floating, on the same notional amount for a specified period of time. The interest rate swap contract agreement will normally be entered into on a zero coupon basis, meaning that the floating rate will be based on the cumulative of the variable rate, and the fixed rate will compound until the swap contract’s maturity date, at which point the payments would be netted.

High Yield Fund entered into options on indexes for the six months ended May 31, 2023 (as described in Note 2(t)) to obtain exposure to an issuer (the Reference Entity). The Fund’s use of swaptions and options involves the risk that Lord Abbett will not accurately predict expectations of market value of the Reference Entity, and the Fund’s returns could be reduced as a result. The Fund’s risk of loss from counterparty credit risk is the notional value of the contract.

414

Notes to Financial Statements (continued)

As of May 31, 2023, each Fund had the following derivatives at fair value, grouped into appropriate risk categories that illustrate each Fund’s use of derivative instruments:

		Convertible Fund
Asset Derivatives			Foreign Currency Contracts
Forward Foreign Currency Exchange Contracts(1)			$	499,299
Liability Derivatives
Forward Foreign Currency Exchange Contracts(2)			$	44,181
	Core Fixed Income Fund
Asset Derivatives	Interest Rate Contracts		Foreign Currency Contracts
Futures Contracts(3)	$	2,306,171		–
Liability Derivatives
Forward Foreign Currency Exchange Contracts(2)		–		$358,910
Futures Contracts(3)	$	512,941		–
			Core Plus Bond Fund
Asset Derivatives	Interest Rate Contracts		Foreign Currency Contracts		Credit Contracts
Centrally Cleared Credit Default Swap Contracts(4)		–		–	$	453,540
Forward Foreign Currency Exchange Contracts(1)		–	$	5,271		–
Futures Contracts(3)	$	1,931,552		–		–
Liability Derivatives
Forward Foreign Currency Exchange Contracts(2)		–	$	183,341		–
Futures Contracts(3)	$	486,431		–		–
Corporate Bond Fund
Asset Derivatives			Interest Rate Contracts
Futures Contracts(3)			$	10,005
Liability Derivatives
Futures Contracts(3)			$	6,985
			Floating Rate Fund
Asset Derivatives	Equity Contracts		Interest Rate Contracts		Foreign Currency Contracts
Centrally Cleared Interest Rate Swap Contracts(4)		–	$	6,314,652		–
Forward Foreign Currency Exchange Contracts(1)		–		–	$	439,579
Total Return Swap Contracts(5)	$	4,429,479		–		–
Liability Derivatives
Centrally Cleared Interest Rate Swap Contracts(4)		–	$	1,137,819		–
Forward Foreign Currency Exchange Contracts(2)		–		–	$	836,789

415

Notes to Financial Statements (continued)

				High Yield Fund
Asset Derivatives	Interest Rate Contracts			Foreign Currency Contracts		Credit Contracts
Centrally Cleared Credit Default Swap Contracts(4)		–			–	$	1,412,427
Forward Foreign Currency Exchange Contracts(1)		–		$	755,209		–
Futures Contracts(3)	$	2,083,611			–		–
Liability Derivatives
Forward Foreign Currency Exchange Contracts(2)		–		$	2,992,687		–
Futures Contracts(3)	$	28,399			–		–
			Income Fund
Asset Derivatives	Interest Rate Contracts			Foreign Currency Contracts
Forward Foreign Currency Exchange Contracts(1)		–		$	100,944
Futures Contracts(3)	$	7,194,541			–
Liability Derivatives
Centrally Cleared Interest Rate Swap Contracts(4)	$	337,134			–
Futures Contracts(3)	$	3,714,011			–
		Inflation Focused Fund
Asset Derivatives	Interest Rate Contracts			Inflation Linked Contracts
Centrally Cleared CPI Swap Contracts(4)		–		$	51,443,803
Centrally Cleared Interest Rate Swap Contracts(4)	$	14,650			–
CPI Swap Contracts(6)		–		$	50,317,398
Futures Contracts(3)	$	2,367,694			–
Liability Derivatives
Centrally Cleared CPI Swap Contracts(4)		–		$	3,396,744
Centrally Cleared Interest Rate Swap Contracts(4)	$	14,658			–
CPI Swap Contracts(7)		–		$	15,476,755
Short Duration Core Bond Fund
Asset Derivatives		Interest Rate Contracts			Inflation Linked Contracts
Centrally Cleared CPI Swap Contracts(4)		–		$	13,709
Futures Contracts(3)	$	69,025			–
Liability Derivatives
Centrally Cleared CPI Swap Contracts(4)		–		$	8,808

416

Notes to Financial Statements (continued)

					Short Duration Income Fund
Asset Derivatives	Interest Rate Contracts		Foreign Currency Contracts			Credit Contracts		Inflation Linked Contracts
Centrally Cleared CPI Swap Contracts(4)		–		–			–	$	2,970,500
Centrally Cleared Credit Default Swap Contracts(4)		–		–		$	1,596,982		–
Forward Foreign Currency Exchange Contracts(1)		–	$	229,799			–		–
Futures Contracts(3)	$	11,079,093		–			–		–
Liability Derivatives
Centrally Cleared CPI Swap Contracts(4)		–		–			–	$	1,198,900
Credit Default Swap Contracts(8)		–		–		$	11,253,623		–
			Total Return Fund
Asset Derivatives	Interest Rate Contracts		Foreign Currency Contracts			Credit Contracts
Forward Foreign Currency Exchange Contracts(1)		–	$	153,575			–
Futures Contracts(3)	$	4,735,555		–			–
Liability Derivatives
Centrally Cleared Credit Default Swap Contracts(4)		–		–		$	659,632
Forward Foreign Currency Exchange Contracts(2)		–	$	505,531			–
Futures Contracts(3)	$	1,019,840		–			–
Ultra Short Bond Fund
Asset Derivatives	Interest Rate Contracts
Futures Contracts(3)	$	241,032

(1)	Statements of Assets and Liabilities location: Unrealized appreciation on forward foreign currency exchange contracts.
(2)	Statements of Assets and Liabilities location: Unrealized depreciation on forward foreign currency exchange contracts.
(3)	Statements of Assets and Liabilities location: Includes cumulative unrealized appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.
(4)	Statements of Assets and Liabilities location: Includes cumulative unrealized appreciation/depreciation of centrally cleared swap contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.
(5)	Statements of Assets and Liabilities location: Total return swap contracts, at fair value.
(6)	Statements of Assets and Liabilities location: Unrealized appreciation on CPI swap contracts.
(7)	Statements of Assets and Liabilities location: Unrealized depreciation on CPI swap contracts.
(8)	Statements of Assets and Liabilities location: Credit default swap contract agreements payable, at fair value.

417

Notes to Financial Statements (continued)

Transactions in derivative investments for the six months ended May 31, 2023 were as follows:

Convertible Fund
	Foreign Currency Contracts
Net Realized Gain (Loss)
Forward Foreign Currency Exchange Contracts(1)	$	(1,194,015	)
Net Change in Unrealized Appreciation/ Depreciation
Forward Foreign Currency Exchange Contracts(2)	$	1,539,948
Average Number of Contracts/Notional Amounts*
Forward Foreign Currency Exchange Contracts(3)	$	62,096,800

					Core Fixed Income Fund
	Inflation Linked/ Interest Rate Contracts				Foreign Currency Contracts		Credit Contracts
Net Realized Gain (Loss)
Credit Default Swap Contracts(4)		–			–		$	47,781
Forward Foreign Currency Exchange Contracts(1)		–		$	(765,917	)		–
Futures Contracts(5)	$	(5,970,900	)		–			–
CPI/Interest Rate Swap Contracts(4)	$	741,640			–			–
Net Change in Unrealized Appreciation/Depreciation
Forward Foreign Currency Exchange Contracts(2)		–		$	(24,390	)		–
Futures Contracts(6)	$	1,154,978			–			–
Average Number of Contracts/Notional Amounts*
CPI/Interest Rate Swap Contracts(3)	$	91,284,286			–			–
Forward Foreign Currency Exchange Contracts(3)		–		$	37,153,274			–
Futures Contracts(7)		2,677			–			–
					Core Plus Bond Fund
	Inflation Linked/ Interest Rate Contracts				Foreign Currency Contracts			Credit Contracts
Net Realized Gain (Loss)
CPI/Interest Rate Swap Contracts(4)	$	355,279			–			–
Credit Default Swap Contracts(4)		–			–		$	575,917
Forward Foreign Currency Exchange Contracts(1)		–		$	(235,559	)		–
Futures Contracts(5)	$	(4,762,994	)		–			–
Net Change in Unrealized Appreciation/Depreciation
Credit Default Swap Contracts(8)		–			–		$	(87,461	)
Forward Foreign Currency Exchange Contracts(2)		–		$	(70,961	)		–
Futures Contracts(6)	$	1,331,203			–			–
Average Number of Contracts/Notional Amounts*
CPI/Interest Rate Swap Contracts(3)	$	42,557,857			–			–
Credit Default Swap Contracts(3)		–			–		$	42,059,429
Forward Foreign Currency Exchange Contracts(3)		–		$	15,919,936			–
Futures Contracts(7)		1,596			–			–

418

Notes to Financial Statements (continued)

Corporate Bond Fund

Inflation Linked/ Interest Rate Contracts

Credit Contracts

Net Realized Gain (Loss)

Credit Default Swap Contracts(4)

–

$

1,667

Futures Contracts(5)

$

(24,321

)

–

Net Change in Unrealized Appreciation/Depreciation

Credit Default Swap Contracts(8)

–

$

(333

)

Futures Contracts(6)

$

7,244

–

Average Number of Contracts/Notional Amounts*

Credit Default Swap Contracts(3)

–

$

176,571

Futures Contracts(7)

31

–

Floating Rate Fund

Equity Contracts

Inflation Linked/ Interest Rate Contracts

Foreign Currency Contracts

Credit Contracts

Net Realized Gain (Loss)

CPI/Interest Rate Swap Contracts(4)

–

$

4,955,814

–

–

Credit Default Swap Contracts(4)

–

–

–

$

(321,735

)

Forward Foreign Currency Exchange Contracts(1)

–

–

$

(1,749,861

)

–

Futures Contracts(5)

–

$

10,952,698

–

–

Total Return Swap Contracts(4)

$

3,939,180

–

–

–

Net Change in Unrealized Appreciation/Depreciation

CPI/Interest Rate Swap Contracts(8)

–

$

580,929

–

–

Forward Foreign Currency Exchange Contracts(2)

–

–

$

547,930

–

Total Return Swap Contracts(8)

$

(202,914

)

–

–

–

Average Number of Contracts/Notional Amounts*

CPI/Interest Rate Swap Contracts(3)

–

$

373,887,143

–

–

Credit Default Swap Contracts(3)

–

–

–

$

11,612,429

Total Return Swap Contracts(3)

$

1,870,580

–

–

–

Forward Foreign Currency Exchange Contracts(3)

–

–

$

70,789,206

–

419

Notes to Financial Statements (continued)

High Yield Fund

Equity Contracts

Inflation Linked/ Interest Rate Contracts

Foreign Currency Contracts

Credit Contracts

Net Realized Gain (Loss)

CPI/Interest Rate Swap Contracts(4)

–

$

3,605,225

–

–

Credit Default Swap Contracts(4)

–

–

–

$

(191,950

)

Forward Foreign Currency Exchange Contracts(1)

–

–

$

(7,454,425

)

–

Futures Contracts(5)

–

$

(4,345,225

)

–

–

Purchased Options(9)

$

(224,884

)

–

–

–

Net Change in Unrealized Appreciation/Depreciation

CPI/Interest Rate Swap Contracts(8)

–

$

(2,881,674

)

–

–

Credit Default Swap Contracts(8)

–

–

–

$

(2,224,960

)

Forward Foreign Currency Exchange Contracts(2)

–

–

$

3,089,328

–

Futures Contracts(6)

–

$

(529,629

)

–

–

Average Number of Contracts/Notional Amounts*

CPI/Interest Rate Swap Contracts(3)

–

483,830,221

–

–

Credit Default Swap Contracts(3)

–

–

–

$

132,328,143

Forward Foreign Currency Exchange Contracts(3)

–

–

$

238,573,385

–

Futures Contracts(7)

–

12,159

–

–

Purchased Options(7)

$

44,657

–

–

–

Income Fund

Inflation Linked/ Interest Rate Contracts

Foreign Currency Contracts

Credit Contracts

Net Realized Gain (Loss)

Credit Default Swap Contracts(4)

–

–

$

133,644

Forward Foreign Currency Exchange Contracts(1)

–

$

(275,180

)

–

Futures Contracts(5)

$

(12,885,329

)

–

–

Net Change in Unrealized Appreciation/Depreciation

CPI/Interest Rate Swap Contracts(8)

$

(337,134

)

–

–

Forward Foreign Currency Exchange Contracts(2)

–

$

356,299

–

Futures Contracts(6)

$

3,844,371

–

–

Average Number of Contracts/Notional Amounts*

CPI/Interest Rate Swap Contracts(3)

$

25,216,286

–

–

Credit Default Swap Contracts(3)

–

–

$

23,071,429

Forward Foreign Currency Exchange Contracts(3)

–

$

11,019,530

–

Futures Contracts(7)

12,010

–

–

420

Notes to Financial Statements (continued)

	Inflation Focused Fund
		Inflation Linked/ Interest Rate Contracts
Net Realized Gain (Loss)
CPI/Interest Rate Swap Contracts(4)		$	35,274,157
Futures Contracts(5)		$	(3,500,576	)
Net Change in Unrealized Appreciation/Depreciation
CPI/Interest Rate Swap Contracts(8)		$	(60,020,506	)
Futures Contracts(6)		$	(1,989,923	)
Average Number of Contracts/Notional Amounts*
CPI/Interest Rate Swap Contracts(3)		$	2,060,045,560
Futures Contracts(7)			6,382

Short Duration Core Bond Fund
	Inflation Linked/ Interest Rate Contracts
Net Realized Gain (Loss)
CPI/Interest Rate Swap Contracts(4)	$	429
Futures Contracts(5)	$	(796,335	)
Net Change in Unrealized Appreciation/Depreciation
CPI/Interest Rate Swap Contracts(8)	$	(3,984	)
Futures Contracts(6)	$	(123,585	)
Average Number of Contracts/Notional Amounts*
CPI/Interest Rate Swap Contracts(3)	$	3,996,857
Futures Contracts(7)		627

				Short Duration Income Fund
	Inflation Linked/ Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts
Net Realized Gain (Loss)
Credit Default Swap Contracts(4)		–			–		$	2,193,654
Forward Foreign Currency Exchange Contracts(1)		–		$	(50,930,298	)		–
Futures Contracts(5)	$	(93,109,898	)		–			–
Net Change in Unrealized Appreciation/Depreciation
CPI/Interest Rate Swap Contracts(8)	$	(153,519	)		–			–
Credit Default Swap Contracts(8)		–			–		$	(4,973,348	)
Forward Foreign Currency Exchange Contracts(2)		–		$	29,213,046			–
Futures Contracts(6)	$	(29,872,872	)		–			–
Average Number of Contracts/Notional Amounts*
CPI/Interest Rate Swap Contracts(3)	$	741,736,660			–			–
Credit Default Swap Contracts(3)		–			–		$	240,377,069
Forward Foreign Currency Exchange Contracts(3)		–		$	192,738,851			–
Futures Contracts(7)		120,602			–			–

421

Notes to Financial Statements (continued)

				Total Return Fund
	Inflation Linked/ Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts
Net Realized Gain (Loss)
CPI/Interest Rate Swaps Contracts(4)	$	471,729			–			–
Credit Default Swap Contracts(4)		–			–		$	(4,694,116	)
Forward Foreign Currency Exchange Contracts(1)		–		$	(1,474,866	)		–
Futures Contracts(5)	$	(6,596,093	)		–			–
Net Change in Unrealized Appreciation/Depreciation
Credit Default Swap Contracts(8)		–			–		$	5,503,901
Forward Foreign Currency Exchange Contracts(2)		–		$	498,736			–
Futures Contracts(6)	$	2,831,435			–			–
Average Number of Contracts/Notional Amounts*
CPI/Interest Rate Swap Contracts(3)	$	122,754,857			–			–
Credit Default Swap Contracts(3)		–			–		$	76,460,143
Forward Foreign Currency Exchange Contracts(3)		–		$	69,494,725			–
Futures Contracts(7)		5,930			–			–

	Ultra Short Bond Fund
		Inflation Linked/ Interest Rate Contracts
Net Realized Gain (Loss)
Futures Contracts(5)		$	(8,427,692	)
Net Change in Unrealized Appreciation/Depreciation
Futures Contracts(6)		$	(505,327	)
Average Number of Contracts/Notional Amounts*
Futures Contracts(7)			2,178

*	Calculated based on the number of contracts or notional amounts for the six months ended May 31, 2023.
(1)	Statements of Operations location: Net realized gain (loss) on forward foreign currency exchange contracts.
(2)	Statements of Operations location: Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts.
(3)	Amount represents notional amounts in U.S. dollars.
(4)	Statements of Operations location: Net realized gain (loss) on swap contracts.
(5)	Statements of Operations location: Net realized gain (loss) on futures contracts.
(6)	Statements of Operations location: Net change in unrealized appreciation/depreciation on futures contracts.
(7)	Amount represents number of contracts.
(8)	Statements of Operations location: Net change in unrealized appreciation/depreciation on swap contracts.
(9)	Statements of Operations location: Net realized gain (loss) on investments includes options purchased.

7. DISCLOSURES ABOUT OFFSETTING ASSETS AND LIABILITIES  

The Financial Accounting Standards Board requires disclosures intended to help better assess the effect or potential effect of offsetting arrangements on a fund’s financial position. The following tables illustrate gross and net information about recognized assets and liabilities eligible for offset in the Statements of Assets and Liabilities; and disclose such amounts subject to an enforceable master netting agreement or similar agreement, by the counterparty. A master netting agreement is an agreement between a fund and the counterparty which provides for the net settlement of amounts owed under all contracts traded under that agreement, as well as cash collateral, through a single payment by one party to the other in the event of default on or termination of any one contract. The Funds’ accounting policy with respect to balance sheet offsetting is that, absent an

422

Notes to Financial Statements (continued)

event of default by the counterparty or a termination of the agreement, the master netting agreement does not result in an offset of reported amounts of financial assets and liabilities in the Statements of Assets and Liabilities across transactions between the Funds and the applicable counterparty:

				Convertible Fund
Description	Gross Amounts of Recognized Assets	Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts	$     499,299	$              –		$     499,299
Repurchase Agreements	22,371,389	–		22,371,389
Total	$22,870,688	$              –		$22,870,688

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Received(a)			Securities Collateral Received(a)			Net Amount(b)
Goldman Sachs		$         2,228		$          –			$             –			$                 –			$2,228
Fixed Income Clearing Corp.		22,371,389		–			–			(22,371,389	)		–
State Street Bank and Trust		497,071		(44,181	)		(452,890	)		–			–
Total		$22,870,688		$(44,181	)		$(452,890	)		$(22,371,389	)		$2,228

Description	Gross Amounts of Recognized Liabilities	Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts	$44,181	$              –		$44,181
Total	$44,181	$              –		$44,181

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged(a)		Securities Collateral Pledged(a)		Net Amount(c)
State Street Bank and Trust		$44,181		$(44,181	)		$             –		$                 –		$             –
Total		$44,181		$(44,181	)		$             –		$                 –		$             –

			Core Fixed Income Fund
Description	Gross Amounts of Recognized Assets	Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements	$57,941,829	$              –		$57,941,829
Total	$57,941,829	$              –		$57,941,829

423

Notes to Financial Statements (continued)

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
Barclays Bank plc		$34,999,598		$              –		$             –	$	(34,999,598	)		$             –
Fixed Income Clearing Corp.		22,942,231		–		–		(22,942,231	)		–
Total		$57,941,829		$              –		$             –	$	(57,941,829	)		$             –

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$358,910	$              –	$358,910
Total		$358,910	$              –	$358,910

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Pledged(a)			Securities Collateral Pledged(a)		Net Amount(c)
Morgan Stanley		$152,823		$              –		$            –			$                 –		$152,823
State Street Bank and Trust		206,087		–		(206,087	)		–		–
Total		$358,910		$              –		$(206,087	)		$                 –		$152,823

					Core Plus Bond Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$         5,271		$                 –			$         5,271
Repurchase Agreements		36,669,426		–			36,669,426
Total		$36,674,697		$                 –			$36,674,697

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
Barclays Bank plc		$24,999,713		$         –			$             –	$	(24,999,713	)		$             –
Fixed Income Clearing Corp.		11,669,713		–			–		(11,669,713	)		–
State Street Bank and Trust		5,271		(5,271	)		–		–			–
Total		$36,674,697		$(5,271	)		$             –	$	(36,669,426	)		$             –

424

Notes to Financial Statements (continued)

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$183,341	$             –	$183,341
Total		$183,341	$             –	$183,341

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged(a)			Securities Collateral Pledged(a)		Net Amount(c)
Morgan Stanley		$  91,973		$         –			$           –			$            –		$91,973
State Street Bank and Trust		91,368		(5,271	)		(86,097	)		–		–
Total		$183,341		$(5,271	)		$(86,097	)		$            –		$91,973

			Corporate Bond Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements		$44,166	$             –	$44,166
Total		$44,166	$             –	$44,166

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
TD Securities USA LLC		$44,166		$             –		$             –		$(44,166	)		$             –
Total		$44,166		$             –		$             –		$(44,166	)		$             –

				Floating Rate Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$       439,579	$             –	$       439,579
Total Return Swap Contracts		4,429,479	–	4,429,479
Repurchase Agreements		451,753,051	–	451,753,051
Total		$456,622,109	$             –	$456,622,109

425

Notes to Financial Statements (continued)

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Received(a)			Securities Collateral Received(a)			Net Amount(b)
Barclays Bank plc		$330,555,307		$            –		$	–		$	(329,999,153	)	$	556,154
Fixed Income Clearing Corp.		121,753,898		–			–			(121,753,898	)		–
Morgan Stanley		3,931,613		(443,111	)		(1,300,000	)		–			2,188,502
Standard Chartered Bank		58,121		–			–			–			58,121
State Street Bank and Trust		254,244		(254,244	)		–			–			–
Toronto Dominion Bank		68,926		–			–			–			68,926
Total		$456,622,109		$(697,355	)	$	(1,300,000	)	$	(451,753,051	)	$	2,871,703

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$836,789	$             –	$836,789
Total		$836,789	$             –	$836,789

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged			Securities Collateral Pledged		Net Amount
Bank of America	$	18,236	$	–		$	–		$	–		$18,236
Morgan Stanley		443,111		(443,111	)		–			–		–
State Street Bank and Trust		375,442		(254,244	)		(121,198	)		–		–
Total	$	836,789	$	(697,355	)	$	(121,198	)	$	–		$18,236

				High Yield Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$     755,209	$             –	$     755,209
Repurchase Agreements		9,898,117	–	9,898,117
Total		$10,653,326	$             –	$10,653,326

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
Fixed Income Clearing Corp.	$	9,898,117	$	–		$	–	$	(9,898,117	)	$	–
Morgan Stanley		300,821		(300,821	)		–		–			–
State Street Bank and Trust		405,797		(405,797	)		–		–			–
Toronto Dominion Bank		48,591		(48,591	)		–		–			–
Total	$	10,653,326	$	(755,209	)	$	–	$	(9,898,117	)	$	–

426

Notes to Financial Statements (continued)

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$2,992,687	$              –	$2,992,687
Total		$2,992,687	$              –	$2,992,687

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged(a)			Securities Collateral Pledged(a)		Net Amount(c)
J.P. Morgan	$	37,363	$	–		$	–		$	–	$	37,363
Morgan Stanley		1,965,593		(300,821	)		(1,470,000	)		–		194,772
State Street Bank and Trust		863,541		(405,797	)		(457,744	)		–		–
Toronto Dominion Bank		126,190		(48,591	)		–			–		77,599
Total	$	2,992,687	$	(755,209	)	$	(1,927,744	)	$	–	$	309,734

				Income Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$     100,944	$              –	$     100,944
Repurchase Agreements		47,311,690	–	47,311,690
Total		$47,412,634	$              –	$47,412,634

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
Fixed Income Clearing Corp.	$	18,312,634	$	–	$	–	$	(18,312,634	)	$	–
State Street Bank and Trust		100,944		–		–		–			100,944
TD Securities USA LLC		28,999,056		–		–		(28,999,056	)		–
Total	$	47,412,634	$	–	$	–	$	(47,311,690	)	$	100,944

				Inflation Focused Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities		Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Consumer Price Index (“CPI”) Swap Contracts		$50,317,398	$              –		$	50,317,398
Repurchase Agreements		9,655,399	–			9,655,399
Total		$59,972,797	$              –		$	59,972,797

427

Notes to Financial Statements (continued)

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Received(a)			Securities Collateral Received(a)			Net Amount(b)
Bank of America	$	22,269,672	$	(3,104,898	)	$	(3,180,000	)	$	(15,984,774	)	$	–
Barclays Bank plc		16,455,688		(1,810,664	)		(14,645,024	)		–			–
Deutsche Bank AG		341,837		(341,837	)		–			–			–
Goldman Sachs		7,142,531		(4,174,158	)		(2,968,373	)		–			–
Fixed Income Clearing Corp.		4,155,727					–			(4,155,727	)		–
J.P. Morgan		4,107,670		(1,530,918	)		(2,576,752	)		–			–
TD Securities USA LLC		5,499,672		–			–			(5,499,672	)	$	–
Total	$	59,972,797	$	(10,962,475	)	$	(23,370,149	)	$	(25,640,173	)	$	–

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities		Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Consumer Price Index (“CPI”) Swap Contracts	$	15,476,755		$               –	$	15,476,755
Total	$	15,476,755		$               –	$	15,476,755

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged(a)			Securities Collateral Pledged(a)		Net Amount(c)
Bank of America	$	3,104,898	$	(3,104,898	)	$	–		$	–	$	–
Barclays Bank plc		1,810,664		(1,810,664	)		–			–		–
Credit Suisse		694,521		–			(694,521	)		–		–
Deutsche Bank AG		4,161,596		(341,837	)		(3,630,000	)		–		189,759
Goldman Sachs		4,174,158		(4,174,158	)		–			–		–
J.P. Morgan		1,530,918		(1,530,918	)		–			–		–
Total	$	15,476,755	$	(10,962,475	)	$	(4,324,521	)	$	–	$	189,759

			Short Duration Core Bond Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements		$4,372,313	$               –		$4,372,313
Total		$4,372,313	$               –		$4,372,313

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
Fixed Income Clearing Corp.		$1,372,841	$	–	$	–	$	(1,372,841	)	$	–
TD Securities USA LLC		2,999,472		–		–		(2,999,472	)		–
Total		$4,372,313	$	–	$	–	$	(4,372,313	)	$	–

428

Notes to Financial Statements (continued)

Short Duration Income Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts	$	229,799	$               –	$	229,799
Repurchase Agreements		181,055,218	–		181,055,218
Total	$	181,285,017	$               –	$	181,285,017

	Net Amounts of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
State Street Bank and Trust	$	229,799	$	–	$	–	$	(229,799	)	$	–
Fixed Income Clearing Corp.		181,055,218		–		–		(181,055,218	)		–
Total	$	181,285,017	$	–	$	–	$	(181,285,017	)	$	–

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Credit Default Swap Contracts	$	11,253,623	$               –	$	11,253,623
Total	$	11,253,623	$               –	$	11,253,623

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Pledged(a)			Securities Collateral Pledged(a)		Net Amount(c)
Citibank	$	6,185,405	$	–	$	(6,148,279	)	$	–	$	37,126
Morgan Stanley		5,068,218		–		(4,890,000	)		–		178,218
Total	$	11,253,623	$	–	$	(11,038,279	)	$	–	$	215,344

				Total Return Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts	$	153,575	$               –	$	153,575
Repurchase Agreements		76,231,038	–		76,231,038
Total	$	76,384,613	$               –	$	76,384,613

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
State Street Bank and Trust	$	153,575	$	(153,575	)	$	–	$	–		$	–
Barclays Bank plc		49,999,425		–			–		(49,999,425	)		–
Fixed Income Clearing Corp.		26,231,613		–			–		(23,231,613	)		–
Total	$	76,384,613	$	(153,575	)	$	–	$	(73,231,038	)	$	–

429

Notes to Financial Statements (continued)

Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities
Forward Foreign Currency Exchange Contracts		$505,531	$               –		$505,531
Total		$505,531	$               –		$505,531

	Net Amounts of Liabilities Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments			Cash Collateral Pledged(a)			Securities Collateral Pledged(a)		Net Amount(c)
Morgan Stanley		$212,962	$	–		$	–		$	–	$	212,962
State Street Bank and Trust		292,569		(153,575	)		(138,994	)		–		–
Total		$505,531	$	(153,575	)	$	(138,994	)	$	–	$	212,962

				Ultra Short Bond Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities	Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements	$	28,392,213	$               –	$	28,392,213
Total	$	28,392,213	$               –	$	28,392,213

	Net Amount of Assets Presented in		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	the Statement of Assets and Liabilities		Financial Instruments		Cash Collateral Received(a)		Securities Collateral Received(a)			Net Amount(b)
Fixed Income Clearing Corp.	$	28,392,213	$	–	$	–	$	(28,392,213	)	$	–
Total	$	28,392,213	$	–	$	–	$	(28,392,213	)	$	–

(a)	Collateral disclosed is limited to an amount not to exceed 100% of the net amount of assets (liabilities) presented in the Statements of Assets and Liabilities, for each respective counterparty.
(b)	Net amount represents the amount owed to the Fund by the counterparty as of May 31, 2023.
(c)	Net amount represents the amount owed by the Fund to the counterparty as of May 31, 2023.

8. TRUSTEES’ REMUNERATION

The Trust’s officers and one Trustee, who are associated with Lord Abbett, do not receive any compensation from the Trust for serving in such capacities. Independent Trustees’ fees are allocated among all Lord Abbett-sponsored funds based on the net assets of each fund. There is an equity-based plan available to all Independent Trustees under which Independent Trustees may elect to defer receipt of a portion of Trustees’ fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Funds. Such amounts and earnings accrued thereon are included in Trustees’ fees in the Statements of Operations and in Trustees’ fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

430

Notes to Financial Statements (continued)

9. EXPENSE REDUCTIONS  

The Trust has entered into an arrangement with its prior transfer agent and its custodian, whereby credits realized as a result of uninvested cash balances are used to reduce a portion of each Fund’s expenses. The arrangement with the Funds’ prior transfer agent was discontinued effective March 6, 2023.

10. LINE OF CREDIT  

For the period ended May 31, 2023, the Funds and certain other funds managed by Lord Abbett (collectively, the “Participating Funds”) entered into a syndicated line of credit facility with various lenders for $1.625 billion (the “Syndicated Facility”) whereas State Street Bank and Trust Company (“SSB”) participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of one-third of fund net assets (if fund net assets are less than $750 million), $250 million, $300 million, $700 million, or $1 billion, based on past borrowings and likelihood of future borrowings, among other factors.

For the period ended May 31, 2023, the Participating Funds also entered into an additional uncommitted line of credit facility with SSB for $330 million (the “Bilateral Facility”). Under the Bilateral Facility, the Participating Funds are subject to graduated borrowing limits of one-third of fund net assets (if net assets are less than $750 million), or $250 million based on past borrowings and likelihood of future borrowings, among other factors.

These credit facilities are to be used for temporary or emergency purposes as additional sources of liquidity to satisfy redemptions.

For the six months ended May 31, 2023, the Funds did not utilize the Syndicated Facility or Bilateral Facility.

11. INTERFUND LENDING PROGRAM  

Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission (“SEC exemptive order”) certain registered open-end management investment companies managed by Lord Abbett, including each Fund, participate in a joint lending and borrowing program (the “Interfund Lending Program”). The SEC exemptive order allows the funds that participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

For the six months ended May 31, 2023, the following Funds participated as a lender in the Interfund Lending Program. For the period in which the loan was outstanding, the average amount loaned, interest rate and interest income were as follows:

Fund	Average Amount Loaned		Average Interest Rate			Interest Income*
Short Duration Income Fund	$	3,199,835		3.90	%	$	342
Total Return Fund		27,574,125		3.90	%		2,946
Ultra Short Bond Fund		24,735,697		3.90	%		2,643

* Statements of Operations location: Interest earned from Interfund Lending.

431

Notes to Financial Statements (continued)

For the six months ended May 31, 2023, the following Fund participated as a borrower in the Interfund Lending Program. For the period which the loan was outstanding, the average amount borrowed, interest rate and interest expense were as follows:

Fund	Average Amount Borrowed		Average Interest Rate			Interest Expense*
High Yield Fund	$	33,766,144		3.70	%	$	10,548

* Statements of Operations location: Interest paid from Interfund Lending.

12. CUSTODIAN AND ACCOUNTING AGENT  

SSB is the Trust’s custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating each Fund’s NAV.

13. REDEMPION IN-KIND  

During the six months ended May 31, 2023, a shareholder of Core Fixed Income Fund redeemed its Fund shares in exchange for portfolio securities “redemption in-kind.” As a result of the redemption in-kind, the Fund realized a net loss of $1,297,732.

14. SECURITIES LENDING AGREEMENT  

The Funds except for Inflation Focused Fund, have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds’ securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Any income earned from securities lending is included in Securities lending net income on each Fund’s Statement of Operations.

The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

As of May 31, 2023, the market value of securities loaned and collateral received were as follows:

Funds	Market Value of Securities Loaned		Collateral Received(1)
Floating Rate Fund		$55,104,940	$	56,904,050

⁽¹⁾ Statements of Assets and Liabilities location: Payable for collateral due to broker for securities lending.

432

Notes to Financial Statements (continued)

15. INVESTMENT RISKS  

Each Fund is subject to the general risks and considerations associated with investing in fixed income securities and to the changing prospects of individual companies and/or sectors in which the Funds invest. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of fixed income securities are likely to decline, when interest rates fall, such prices tend to rise.

Longer-term securities are usually more sensitive to interest rate changes. There is also the risk that an issuer of a fixed income security will fail to make timely payments of principal and/or interest to a Fund, a risk that is greater with high-yield bonds (sometimes called “junk bonds”) in which one or more of the Funds may invest. Some issuers, particularly of high-yield bonds may default as to principal and/or interest payments after the Fund purchases their securities. A default, or concerns in the market about an increase in risk of default may result in losses to each Fund. High-yield bonds are subject to greater price fluctuations and increased liquidity risk as well as additional risks.

Certain instruments in which the Funds may invest have historically relied upon LIBOR. As of June 30, 2023, the administrator of LIBOR ceased publication of U.S. dollar LIBOR settings. The LIBOR transition could have adverse impacts on newly issued financial instruments and existing financial instruments which referenced LIBOR and lead to significant short-term and long-term uncertainty and market instability.

Because the Ultra Short Bond Fund invests a significant portion of its assets in securities issued by companies in the financial services industry, developments affecting this industry may have a disproportionate impact on the Fund. Interest rate, risk credit, risk and the risk of regulatory changes in the financial services industry, among other risks, may have negative effects on companies in the financial services industry.

The values of equity holdings of Convertible Fund will fluctuate in response to movements in the equity securities market in general and to the changing prospects of the individual companies and/or sectors in which the Fund invests.

Convertible Fund, High Yield Fund, Income Fund, Inflation Focused Fund and Short Duration Income Fund are subject to the general risks and considerations associated with investing in convertible securities which have both equity and fixed income risk characteristics including market, credit, liquidity and interest rate risks. Generally, convertible securities offer lower interest or dividend yields than non-convertible securities of similar quality and less potential for gains or capital appreciation in a rising equity securities market than equity securities. They tend to be more volatile than other fixed income securities, and the markets for convertible securities may be less liquid than markets for stocks or bonds. A significant portion of convertible securities have below investment grade credit ratings and are subject to increased credit and liquidity risks.

Each Fund’s investment exposure to foreign (which may include emerging market) companies presents increased market, liquidity, currency, political, information and other risks. The cost of a Fund’s potential use of forward foreign currency exchange contracts varies with factors such as the currencies involved, the length of the contract period and the market conditions prevailing.

433

Notes to Financial Statements (continued)

Each Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with directly investing in securities. Derivatives may be subject to risks such as liquidity risk, leveraging risk, interest rate risk, market risk, and credit risk. Illiquid securities may lower the Funds’ returns since the Funds may be unable to sell these securities at their desired time or price. Derivatives also may involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the value of the underlying asset, rate or index. Whether a Fund’s use of derivatives is successful will depend on, among other things, the Fund’s ability to correctly forecast market movements, changes in foreign exchange and interest rates, and other factors. If a Fund incorrectly forecasts these and other factors, its performance could suffer. A Fund’s use of derivatives could result in a loss exceeding the amount of the Fund’s investment in these instruments.

Each Fund may invest in swap contracts. Swap contracts are bi-lateral agreements between a fund and its counterparty. Each party is exposed to the risk of default by the other in addition to the risks associated with investing in derivatives discussed above. In addition, they may involve a small investment of cash compared to the risk assumed with the result that small changes may produce disproportionate and substantial gains or losses to the Funds.

The Funds are subject to the risks of investing in credit default swap contracts. The risks associated with the Funds’ investment in credit default swap contracts are greater than if the Funds invested directly in the reference obligation because they are subject to liquidity risk, counterparty risk, and credit risk at both the counterparty and underlying issuer levels in addition to the risks associated with investing in derivatives discussed above.

Each Fund’s exposure to inflation-linked investments, such as Treasury Inflation Protected Securities, may be vulnerable to changes in expectations of inflation or interest rates and there is no guarantee that the Fund’s use of these instruments will be successful.

The Funds are subject to the risks of investing in floating rate or adjustable rate senior loans, which are subject to increased credit and liquidity risks. Senior loans are business loans made to borrowers that may be U.S. or foreign corporations, partnerships or other business entities. The senior loans in which Core Fixed Income Fund, Core Plus Bond Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation Focused Fund, Short Duration Income Fund and Total Return Fund may invest may consist primarily of senior loans that are rated below investment grade or, if unrated, deemed by Lord Abbett to be equivalent to below investment grade securities. Below investment grade senior loans, as in the case of high- yield debt securities, or junk bonds, are usually more credit sensitive than interest rate sensitive, although the value of these instruments may be impacted by broader interest rate swings in the overall fixed income market. In addition, Floating Rate Fund may invest up to 20% of its total assets in senior loans that are not secured by any specific collateral.

Each Fund is subject to the risk of investing in securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities (such as the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”), or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. Government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. Government and no assurance can be given that the U.S. Government would provide financial support to its agencies and instrumentalities if not required to do so by law. Consequently, the Fund may be required to look principally to the agency issuing or guaranteeing the obligation.

434

Notes to Financial Statements (continued)

Convertible Fund, Core Fixed Income Fund, Core Plus Bond Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation Focused Fund, Short Duration Core Bond Fund, Short Duration Income Fund and Total Return Fund are subject to the risks of investing in asset backed securities and mortgage related securities, including those of such Government sponsored enterprises as Fannie Mae and Freddie Mac. In addition, these Funds may invest in non-agency backed and mortgage related securities, which are issued by the private institutions, not by the government-sponsored enterprises. Such securities may be particularly sensitive to changes in economic conditions, including delinquencies and/or defaults, and changes in prevailing interest rates. These changes can affect the value, income and/or liquidity of such positions. When interest rates are declining, the value of these securities with prepayment features may not increase as much as other fixed income securities. Early principal repayment may deprive a Fund of income payments above current markets rates. The prepayment rate also will affect the price and volatility of a mortgage-related security. In addition, securities of government sponsored enterprises are guaranteed with respect to the timely payment of interest and principal by the particular enterprise involved, not by the U.S. Government.

Geopolitical and other events (e.g., wars, terrorism, natural disasters, epidemics or pandemics) may disrupt securities markets and adversely affect global economies and markets, thereby decreasing the value of each Fund’s investments. Market disruptions can also prevent the Funds from implementing their investment strategies and achieving their investment objectives.

In March 2023, the shut-down of certain financial institutions raised economic concerns over disruption in the U.S. banking system. There can be no certainty that the actions taken by the U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system objective.

The impact of the COVID-19 outbreak, and the effects of other infectious illness outbreaks, epidemics, or pandemics, may be short term or may continue for an extended period of time. For example, a global pandemic or other widespread health crises could negatively affect the global economy, the economies of individual countries, and the financial performance of individual issuers, sectors, industries, asset classes, and markets in significant and unforeseen ways. Health crises caused by outbreaks of disease may also exacerbate other pre-existing political, social, and economic risks in certain countries or globally. The foregoing could disrupt the operations of each Fund and its service providers, adversely affect the value and liquidity of each Fund’s investments, and negatively impact each Fund’s performance and your investment in each Fund.

435

Notes to Financial Statements (continued)

16. SUMMARY OF CAPITAL TRANSACTIONS  

Transactions in shares of beneficial interest were as follows:

Convertible Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		1,037,598		$	12,772,965			3,668,180		$	52,194,955
Reinvestment of distributions		281,791			3,419,095			3,378,312			53,195,057
Shares reacquired		(3,823,528	)		(46,984,680	)		(9,020,187	)		(127,903,328	)
Decrease		(2,504,139	)	$	(30,792,620	)		(1,973,695	)	$	(22,513,316	)
Class C Shares
Shares sold		178,439		$	2,172,280			322,259		$	4,379,761
Reinvestment of distributions		45,424			545,425			636,311			9,937,068
Shares reacquired		(643,071	)		(7,819,607	)		(1,740,227	)		(24,006,878	)
Decrease		(419,208	)	$	(5,101,902	)		(781,657	)	$	(9,690,049	)
Class F Shares
Shares sold		650,893		$	8,040,928			13,820,522		$	196,159,598
Reinvestment of distributions		167,216			2,028,746			6,405,541			101,491,359
Shares reacquired		(7,796,503	)		(96,319,776	)		(51,200,001	)		(730,959,444	)
Decrease		(6,978,394	)	$	(86,250,102	)		(30,973,938	)	$	(433,308,487	)
Class F3 Shares
Shares sold		88,388		$	1,104,121			359,365		$	5,258,844
Reinvestment of distributions		29,616			363,948			351,230			5,597,825
Shares reacquired		(286,666	)		(3,566,296	)		(1,134,115	)		(16,737,049	)
Decrease		(168,662	)	$	(2,098,227	)		(423,520	)	$	(5,880,380	)
Class I Shares
Shares sold		12,271,215		$	152,941,617			49,775,855		$	674,840,083
Reinvestment of distributions		593,059			7,261,667			2,697,058			42,082,968
Shares reacquired		(19,135,748	)		(239,242,615	)		(27,649,623	)		(376,150,751	)
Increase (decrease)		(6,271,474	)	$	(79,039,331	)		24,823,290		$	340,772,300
Class P Shares
Shares sold		154		$	1,949			2,774		$	41,444
Reinvestment of distributions		48			596			420			6,769
Shares reacquired		(132	)		(1,666	)		(2,661	)		(39,857	)
Increase		70		$	879			533		$	8,356

436

Notes to Financial Statements (continued)

Convertible Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R2 Shares	Shares			Amount			Shares			Amount
Shares sold		140		$	1,763			284		$	3,747
Reinvestment of distributions		98			1,221			882			14,226
Shares reacquired		(6	)		(78	)		(65	)		(1,136	)
Increase		232		$	2,906			1,101		$	16,837
Class R3 Shares
Shares sold		72,201		$	888,133			165,205		$	2,354,762
Reinvestment of distributions		28,333			341,411			362,290			5,675,187
Shares reacquired		(196,118	)		(2,384,508	)		(806,358	)		(11,276,191	)
Decrease		(95,584	)	$	(1,154,964	)		(278,863	)	$	(3,246,242	)
Class R4 Shares
Shares sold		3,557		$	43,742			14,500		$	189,457
Reinvestment of distributions		796			9,651			9,242			145,517
Shares reacquired		(13,059	)		(161,686	)		(23,312	)		(299,872	)
Increase (decrease)		(8,706	)	$	(108,293	)		430		$	35,102
Class R5 Shares
Shares sold		16,121		$	198,402			32,340		$	441,471
Reinvestment of distributions		2,504			30,647			19,447			307,889
Shares reacquired		(11,030	)		(136,218	)		(26,392	)		(375,987	)
Increase		7,595		$	92,831			25,395		$	373,373
Class R6 Shares
Shares sold		34,943		$	432,473			97,757		$	1,480,653
Reinvestment of distributions		21,391			262,960			188,091			2,991,058
Shares reacquired		(488,261	)		(6,033,046	)		(156,870	)		(2,230,537	)
Increase (decrease)		(431,927	)	$	(5,337,613	)		128,978		$	2,241,174
Core Fixed Income Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		16,716,159		$	156,782,963			7,983,844		$	79,171,039
Reinvestment of distributions		1,106,558			10,388,492			1,624,232			16,235,835
Shares reacquired		(6,533,699	)		(61,532,281	)		(16,675,809	)		(166,825,814	)
Increase (decrease)		11,289,018		$	105,639,174			(7,067,733	)	$	(71,418,940	)
Class C Shares
Shares sold		955,600		$	8,960,918			209,742		$	2,030,753
Reinvestment of distributions		41,029			383,349			55,551			554,256
Shares reacquired		(490,860	)		(4,590,572	)		(860,927	)		(8,689,309	)
Increase (decrease)		505,769		$	4,753,695			(595,634	)	$	(6,104,300	)

437

Notes to Financial Statements (continued)

Core Fixed Income Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class F Shares	Shares			Amount			Shares			Amount
Shares sold		6,866,625		$	65,022,950			5,431,605		$	55,828,643
Reinvestment of distributions		188,364			1,767,519			541,591			5,587,000
Shares reacquired		(7,587,026	)		(71,287,007	)		(27,957,750	)		(283,679,345	)
Decrease		(532,037	)	$	(4,496,538	)		(21,984,554	)	$	(222,263,702	)
Class F3 Shares
Shares sold		13,666,714		$	128,579,094			9,055,906		$	90,468,747
Reinvestment of distributions		942,633			8,848,291			1,304,325			13,021,600
Shares reacquired		(4,469,484	)		(42,075,299	)		(11,238,255	)		(112,500,431	)
Increase (decrease)		10,139,863		$	95,352,086			(878,024	)	$	(9,010,084	)
Class I Shares
Shares sold		79,270,187		$	745,860,466			89,078,605		$	854,619,064
Reinvestment of distributions		3,079,835			28,904,676			2,497,857			24,407,212
Shares reacquired		(44,043,753	)		(418,658,017	)		(14,694,486	)		(141,477,363	)
Increase		38,306,269		$	356,107,125			76,881,976		$	737,548,913
Class R2 Shares
Shares sold		6,879		$	64,842			5,986		$	61,235
Reinvestment of distributions		715			6,716			1,189			12,063
Shares reacquired		(8,067	)		(75,325	)		(44,068	)		(475,899	)
Decrease		(473	)	$	(3,767	)		(36,893	)	$	(402,601	)
Class R3 Shares
Shares sold		38,719		$	363,204			65,126		$	658,614
Reinvestment of distributions		12,047			113,097			19,403			194,748
Shares reacquired		(46,645	)		(437,242	)		(283,192	)		(2,896,469	)
Increase (decrease)		4,121		$	39,059			(198,663	)	$	(2,043,107	)
Class R4 Shares
Shares sold		162,113		$	1,526,237			183,925		$	1,823,973
Reinvestment of distributions		15,151			142,204			22,104			220,929
Shares reacquired		(82,109	)		(774,190	)		(295,359	)		(2,980,738	)
Increase (decrease)		95,155		$	894,251			(89,330	)	$	(935,836	)
Class R5 Shares
Shares sold		30,875		$	292,197			81,507		$	811,749
Reinvestment of distributions		4,478			42,037			5,310			52,411
Shares reacquired		(31,294	)		(291,777	)		(25,600	)		(253,843	)
Increase		4,059		$	42,457			61,217		$	610,317
Class R6 Shares
Shares sold		516,602		$	4,879,836			1,273,264		$	13,120,862
Reinvestment of distributions		88,051			826,226			111,919			1,106,516
Shares reacquired		(115,939	)		(1,086,163	)		(252,669	)		(2,511,020	)
Increase		488,714		$	4,619,899			1,132,514		$	11,716,358

438

Notes to Financial Statements (continued)

Core Plus Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		3,860,546		$	50,004,426			6,332,557		$	85,426,871
Reinvestment of distributions		206,779			2,670,114			204,159			2,767,652
Shares reacquired		(1,479,222	)		(19,133,793	)		(4,291,916	)		(57,862,160	)
Increase		2,588,103		$	33,540,747			2,244,800		$	30,332,363
Class C Shares
Shares sold		574,082		$	7,447,789			170,105		$	2,277,502
Reinvestment of distributions		14,331			185,230			9,616			130,960
Shares reacquired		(130,442	)		(1,692,305	)		(122,652	)		(1,731,862	)
Increase		457,971		$	5,940,714			57,069		$	676,600
Class F Shares
Shares sold		3,303,810		$	42,886,742			11,286,814		$	157,775,120
Reinvestment of distributions		173,665			2,239,897			442,365			6,142,420
Shares reacquired		(8,424,039	)		(108,498,007	)		(20,925,406	)		(289,537,215	)
Decrease		(4,946,564	)	$	(63,371,368	)		(9,196,227	)	$	(125,619,675	)
Class F3 Shares
Shares sold		4,252,656		$	55,105,042			2,631,256		$	35,906,730
Reinvestment of distributions		134,524			1,737,154			96,212			1,305,130
Shares reacquired		(649,662	)		(8,384,249	)		(1,306,828	)		(18,083,092	)
Increase		3,737,518		$	48,457,947			1,420,640		$	19,128,768
Class I Shares
Shares sold		58,148,201		$	753,628,207			42,933,029		$	567,820,945
Reinvestment of distributions		1,403,222			18,106,015			471,192			6,158,900
Shares reacquired		(15,313,547	)		(198,066,983	)		(12,283,104	)		(161,399,289	)
Increase		44,237,876		$	573,667,239			31,121,117		$	412,580,556
Class R3 Shares
Shares sold		8,016		$	103,238			1,692		$	23,111
Reinvestment of distributions		334			4,310			350			4,768
Shares reacquired		(2,650	)		(34,598	)		(316	)		(4,321	)
Increase		5,700		$	72,950			1,726		$	23,558
Class R4 Shares
Shares sold		4,349		$	56,529			10,807		$	146,191
Reinvestment of distributions		524			6,763			755			10,365
Shares reacquired		(5,569	)		(72,357	)		(13,313	)		(182,077	)
Decrease		(696	)	$	(9,065	)		(1,751	)	$	(25,521	)
Class R5 Shares
Shares sold		–		$	–			61		$	924
Reinvestment of distributions		2			19			2			27
Shares reacquired		(5	)		(59	)		(2	)		(31	)
Increase (decrease)		(3	)	$	(40	)		61		$	920

439

Notes to Financial Statements (continued)

Core Plus Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R6 Shares	Shares			Amount			Shares			Amount
Shares sold		58,164		$	754,015			231,711		$	3,229,003
Reinvestment of distributions		6,598			85,220			7,582			101,117
Shares reacquired		(19,436	)		(251,760	)		(45,720	)		(624,186	)
Increase		45,326		$	587,475			193,573		$	2,705,934

Corporate Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		109,856		$	918,170			33,434		$	286,069
Reinvestment of distributions		4,893			40,783			10,463			98,495
Shares reacquired		(27,316	)		(226,181	)		(104,977	)		(1,006,564	)
Increase (decrease)		87,433		$	732,772			(61,080	)	$	(622,000	)
Class C Shares
Shares sold		10,683		$	89,173			84,415		$	690,940
Reinvestment of distributions		1,466			12,197			2,286			21,410
Shares reacquired		(96,416	)		(794,475	)		(14,126	)		(130,732	)
Increase (decrease)		(84,267	)	$	(693,105	)		72,575		$	581,618
Class F Shares
Shares sold		21,867		$	182,691			44,251		$	420,843
Reinvestment of distributions		2,957			24,695			12,336			117,770
Shares reacquired		(21,412	)		(177,292	)		(361,828	)		(3,545,742	)
Increase (decrease)		3,412		$	30,094			(305,241	)	$	(3,007,129	)
Class F3 Shares
Shares reacquired		–			–			(4,812	)		(50,000	)
Decrease		–		$	–			(4,812	)	$	(50,000	)
Class I Shares
Shares sold		28,401		$	234,277			503		$	4,369
Reinvestment of distributions		427			3,556			710			6,561
Shares reacquired		(11,572	)		(95,939	)		(3,432	)		(31,659	)
Increase (decrease)		17,256		$	141,894			(2,219	)	$	(20,729	)
Class R2 Shares
Shares sold		2		$	11			6		$	53
Reinvestment of distributions		–			1			–			4
Shares reacquired		(13	)		(107	)		–			(1	)
Increase (decrease)		(11	)	$	(95	)		6		$	56

440

Notes to Financial Statements (continued)

Corporate Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R3 Shares	Shares			Amount			Shares			Amount
Shares sold		565		$	4,687			4,289		$	37,774
Reinvestment of distributions		159			1,327			272			2,458
Shares reacquired		(22	)		(183	)		(582	)		(4,840	)
Increase		702		$	5,831			3,979		$	35,392
Class R5 Shares
Shares sold		–		$	–			152		$	1,503
Reinvestment of distributions		–			–			–			4
Shares reacquired		–			–			(152	)		(1,448	)
Increase		–		$	–			–		$	59
Class R6 Shares
Shares sold		198		$	1,651			480		$	4,259
Reinvestment of distributions		88			737			191			1,757
Shares reacquired		(15	)		(125	)		(4,834	)		(50,189	)
Increase (decrease)		271		$	2,263			(4,163	)	$	(44,173	)
Floating Rate Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		17,220,142		$	136,475,416			102,052,143		$	839,575,385
Reinvestment of distributions		7,512,785			59,547,929			9,905,887			79,634,564
Shares reacquired		(64,809,783	)		(513,007,492	)		(110,101,330	)		(891,871,334	)
Increase (decrease)		(40,076,856	)	$	(316,984,147	)		1,856,700		$	27,338,615
Class C Shares
Shares sold		2,151,294		$	17,046,025			9,426,215		$	78,778,850
Reinvestment of distributions		1,667,106			13,222,299			2,131,330			17,140,316
Shares reacquired		(13,625,389	)		(107,995,681	)		(15,360,831	)		(124,247,909	)
Decrease		(9,806,989	)	$	(77,727,357	)		(3,803,286	)	$	(28,328,743	)
Class F Shares
Shares sold		5,908,616		$	46,822,342			223,099,706		$	1,853,820,570
Reinvestment of distributions		2,713,539			21,491,423			9,226,633			74,744,905
Shares reacquired		(76,936,718	)		(611,476,663	)		(480,709,494	)		(3,931,866,774	)
Decrease		(68,314,563	)	$	(543,162,898	)		(248,383,155	)	$	(2,003,301,299	)
Class F3 Shares
Shares sold		1,335,497		$	10,604,803			18,937,737		$	156,939,617
Reinvestment of distributions		742,948			5,898,792			1,200,025			9,641,078
Shares reacquired		(10,181,582	)		(80,875,748	)		(14,011,424	)		(112,670,636	)
Increase (decrease)		(8,103,137	)	$	(64,372,153	)		6,126,338		$	53,910,059
Class I Shares
Shares sold		85,886,579		$	683,287,208			606,334,430		$	4,988,180,905
Reinvestment of distributions		11,512,245			91,307,370			14,338,287			114,879,226
Shares reacquired		(150,824,980	)		(1,195,279,279	)		(381,811,809	)		(3,079,125,145	)
Increase (decrease)		(53,426,156	)	$	(420,684,701	)		238,860,908		$	2,023,934,986

441

Notes to Financial Statements (continued)

Floating Rate Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R2 Shares	Shares			Amount			Shares			Amount
Shares sold		14,935		$	118,965			25,158		$	206,172
Reinvestment of distributions		4,984			39,560			5,436			43,684
Shares reacquired		(53,210	)		(423,160	)		(8,214	)		(65,996	)
Increase (decrease)		(33,291	)	$	(264,635	)		22,380		$	183,860
Class R3 Shares
Shares sold		1,138,232		$	9,012,288			6,095,753		$	50,054,168
Reinvestment of distributions		367,995			2,918,705			389,365			3,118,181
Shares reacquired		(1,427,825	)		(11,323,212	)		(2,942,038	)		(23,586,626	)
Increase		78,402		$	607,781			3,543,080		$	29,585,723
Class R4 Shares
Shares sold		14,165		$	112,425			172,529		$	1,434,239
Reinvestment of distributions		6,929			54,912			9,318			75,092
Shares reacquired		(21,420	)		(169,197	)		(280,786	)		(2,279,710	)
Decrease		(326	)	$	(1,860	)		(98,939	)	$	(770,379	)
Class R5 Shares
Shares sold		110,227		$	874,040			168,199		$	1,388,342
Reinvestment of distributions		12,107			96,126			13,630			110,026
Shares reacquired		(63,770	)		(507,491	)		(268,056	)		(2,201,364	)
Increase (decrease)		58,564		$	462,675			(86,227	)	$	(702,996	)
Class R6 Shares
Shares sold		755,239		$	5,994,185			1,575,475		$	12,926,315
Reinvestment of distributions		327,771			2,602,869			478,628			3,859,179
Shares reacquired		(5,570,654	)		(44,137,812	)		(4,385,292	)		(35,813,935	)
Decrease		(4,487,644	)	$	(35,540,758	)		(2,331,189	)	$	(19,028,441	)
High Yield Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		12,272,487		$	75,901,106			39,440,803		$	260,445,358
Reinvestment of distributions		3,497,357			21,550,220			7,218,196			47,786,513
Shares reacquired		(20,842,782	)		(128,773,764	)		(64,361,448	)		(424,379,451	)
Decrease		(5,072,938	)	$	(31,322,438	)		(17,702,449	)	$	(116,147,580	)
Class C Shares
Shares sold		1,787,715		$	11,013,964			2,030,320		$	13,570,137
Reinvestment of distributions		688,742			4,222,296			1,520,744			10,043,719
Shares reacquired		(5,321,021	)		(32,681,539	)		(11,560,838	)		(76,407,206	)
Decrease		(2,844,564	)	$	(17,445,279	)		(8,009,774	)	$	(52,793,350	)

442

Notes to Financial Statements (continued)

High Yield Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class F Shares	Shares			Amount			Shares			Amount
Shares sold		5,636,727		$	34,817,284			56,823,712		$	386,605,104
Reinvestment of distributions		1,606,274			9,889,445			10,597,812			71,936,934
Shares reacquired		(42,929,091	)		(265,504,158	)		(295,526,821	)		(1,961,441,232	)
Decrease		(35,686,090	)	$	(220,797,429	)		(228,105,297	)	$	(1,502,899,194	)
Class F3 Shares
Shares sold		14,039,081		$	87,157,067			16,179,231		$	109,046,931
Reinvestment of distributions		2,965,043			18,358,113			5,519,954			36,722,323
Shares reacquired		(11,478,006	)		(71,243,164	)		(30,890,134	)		(209,533,180	)
Increase (decrease)		5,526,118		$	34,272,016			(9,190,949	)	$	(63,763,926	)
Class I Shares
Shares sold		82,168,335		$	511,152,137			278,827,578		$	1,852,879,716
Reinvestment of distributions		8,135,232			50,360,226			14,236,856			94,205,619
Shares reacquired		(100,504,111	)		(622,412,343	)		(247,331,271	)		(1,645,980,484	)
Increase (decrease)		(10,200,544	)	$	(60,899,980	)		45,733,163		$	301,104,851
Class P Shares
Shares sold		–		$	–			168		$	1,221
Reinvestment of distributions		–			–			129			928
Shares reacquired		–			–			(6,107	)		(41,708	)
Decrease		–		$	–			(5,810	)	$	(39,559	)
Class R2 Shares
Shares sold		40,703		$	252,595			189,604		$	1,256,868
Reinvestment of distributions		21,181			131,321			40,826			271,789
Shares reacquired		(59,031	)		(368,330	)		(325,361	)		(2,187,907	)
Increase (decrease)		2,853		$	15,586			(94,931	)	$	(659,250	)
Class R3 Shares
Shares sold		787,267		$	4,887,193			2,577,736		$	18,263,802
Reinvestment of distributions		401,735			2,490,809			817,828			5,452,301
Shares reacquired		(1,380,537	)		(8,586,219	)		(4,838,182	)		(32,376,889	)
Decrease		(191,535	)	$	(1,208,217	)		(1,442,618	)	$	(8,660,786	)
Class R4 Shares
Shares sold		1,272,684		$	7,860,816			3,179,168		$	21,434,373
Reinvestment of distributions		262,525			1,617,827			511,880			3,387,723
Shares reacquired		(2,732,923	)		(16,885,302	)		(4,406,344	)		(29,826,596	)
Decrease		(1,197,714	)	$	(7,406,659	)		(715,296	)	$	(5,004,500	)
Class R5 Shares
Shares sold		3,625,079		$	22,308,561			5,542,118		$	37,229,844
Reinvestment of distributions		1,068,683			6,612,926			2,051,835			13,617,167
Shares reacquired		(8,625,939	)		(53,597,686	)		(9,180,667	)		(61,136,182	)
Decrease		(3,932,177	)	$	(24,676,199	)		(1,586,714	)	$	(10,289,171	)

443

Notes to Financial Statements (continued)

High Yield Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R6 Shares	Shares			Amount			Shares			Amount
Shares sold		12,857,547		$	79,718,971			26,766,823		$	177,366,559
Reinvestment of distributions		2,707,500			16,765,537			5,059,481			33,614,822
Shares reacquired		(21,356,884	)		(132,069,196	)		(32,324,269	)		(220,592,034	)
Decrease		(5,791,837	)	$	(35,584,688	)		(497,965	)	$	(9,610,653	)

Income Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		49,116,149		$	119,362,039			62,162,447		$	163,171,323
Reinvestment of distributions		8,804,046			21,333,502			21,383,847			57,306,353
Shares reacquired		(52,693,353	)		(127,747,931	)		(107,377,317	)		(278,873,448	)
Increase (decrease)		5,226,842		$	12,947,610			(23,831,023	)	$	(58,395,772	)
Class C Shares
Shares sold		2,514,004		$	6,132,755			2,384,413		$	6,078,219
Reinvestment of distributions		362,645			882,331			1,134,455			3,094,483
Shares reacquired		(4,021,405	)		(9,791,774	)		(11,840,076	)		(30,742,970	)
Decrease		(1,144,756	)	$	(2,776,688	)		(8,321,208	)	$	(21,570,268	)
Class F Shares
Shares sold		15,122,422		$	36,766,508			22,785,665		$	61,854,861
Reinvestment of distributions		830,891			2,012,082			6,068,003			16,901,651
Shares reacquired		(35,732,946	)		(87,098,382	)		(173,225,894	)		(468,252,316	)
Decrease		(19,779,633	)	$	(48,319,792	)		(144,372,226	)	$	(389,495,804	)
Class F3 Shares
Shares sold		107,004,352		$	260,028,212			120,809,572		$	322,249,738
Reinvestment of distributions		9,480,905			22,975,738			20,213,329			53,886,517
Shares reacquired		(50,511,298	)		(122,677,825	)		(117,293,655	)		(302,914,934	)
Increase		65,973,959		$	160,326,125			23,729,246		$	73,221,321
Class I Shares
Shares sold		164,890,697		$	401,986,709			209,085,480		$	550,134,265
Reinvestment of distributions		5,598,371			13,589,912			5,763,915			14,757,067
Shares reacquired		(38,895,497	)		(94,497,250	)		(81,771,323	)		(207,493,671	)
Increase		131,593,571		$	321,079,371			133,078,072		$	357,397,661
Class R2 Shares
Shares sold		14,598		$	35,767			32,128		$	88,739
Reinvestment of distributions		9,785			23,889			22,698			61,333
Shares reacquired		(5,574	)		(13,707	)		(45,976	)		(122,867	)
Increase		18,809		$	45,949			8,850		$	27,205

444

Notes to Financial Statements (continued)

Income Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R3 Shares	Shares			Amount			Shares			Amount
Shares sold		2,075,785		$	5,037,426			3,074,544		$	8,557,053
Reinvestment of distributions		436,894			1,063,037			1,018,563			2,734,020
Shares reacquired		(1,219,527	)		(2,969,243	)		(3,391,650	)		(8,825,962	)
Increase		1,293,152		$	3,131,220			701,457		$	2,465,111
Class R4 Shares
Shares sold		170,911		$	414,822			1,520,949		$	3,907,241
Reinvestment of distributions		12,752			30,941			32,168			85,947
Shares reacquired		(128,099	)		(309,328	)		(566,383	)		(1,448,474	)
Increase		55,564		$	136,435			986,734		$	2,544,714
Class R5 Shares
Shares sold		217,866		$	531,489			439,432		$	1,178,940
Reinvestment of distributions		15,441			37,411			34,193			90,960
Shares reacquired		(67,024	)		(162,923	)		(1,935,157	)		(4,976,467	)
Increase (decrease)		166,283		$	405,977			(1,461,532	)	$	(3,706,567	)
Class R6 Shares
Shares sold		2,768,122		$	6,681,980			7,796,735		$	20,226,217
Reinvestment of distributions		252,348			611,465			594,866			1,588,835
Shares reacquired		(2,166,950	)		(5,256,998	)		(10,735,749	)		(26,305,843	)
Increase (decrease)		853,520		$	2,036,447			(2,344,148	)	$	(4,490,791	)
Inflation Focused Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		1,845,378		$	21,415,603			22,268,421		$	274,298,360
Reinvestment of distributions		689,349			8,006,672			1,432,330			17,289,484
Shares reacquired		(15,136,770	)		(176,099,018	)		(28,198,666	)		(339,889,525	)
Decrease		(12,602,043	)	$	(146,676,743	)		(4,497,915	)	$	(48,301,681	)
Class C Shares
Shares sold		250,596		$	2,915,043			3,489,212		$	43,047,772
Reinvestment of distributions		118,593			1,379,225			195,789			2,359,080
Shares reacquired		(2,503,732	)		(29,175,869	)		(3,048,228	)		(36,376,882	)
Increase (decrease)		(2,134,543	)	$	(24,881,601	)		636,773		$	9,029,970
Class F Shares
Shares sold		872,726		$	10,168,833			67,756,340		$	838,867,342
Reinvestment of distributions		332,939			3,870,998			2,442,648			29,939,325
Shares reacquired		(16,655,839	)		(194,025,263	)		(191,685,285	)		(2,342,798,021	)
Decrease		(15,450,174	)	$	(179,985,432	)		(121,486,297	)	$	(1,473,991,354	)

445

Notes to Financial Statements (continued)

Inflation Focused Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class F3 Shares	Shares			Amount			Shares			Amount
Shares sold		780,249		$	9,087,257			23,296,467		$	287,008,170
Reinvestment of distributions		476,229			5,537,019			961,563			11,574,025
Shares reacquired		(11,641,524	)		(135,612,788	)		(16,826,750	)		(201,317,101	)
Increase (decrease)		(10,385,046	)	$	(120,988,512	)		7,431,280		$	97,265,094
Class I Shares
Shares sold		22,593,889		$	262,690,339			174,660,252		$	2,127,952,647
Reinvestment of distributions		2,225,275			25,835,096			4,047,123			48,560,681
Shares reacquired		(62,977,453	)		(732,267,859	)		(132,788,305	)		(1,587,370,932	)
Increase (decrease)		(38,158,289	)	$	(443,742,424	)		45,919,070		$	589,142,396
Class R2 Shares
Shares sold		9,899		$	114,939			16,925		$	204,829
Reinvestment of distributions		312			3,601			251			2,968
Shares reacquired		(977	)		(11,203	)		(2,628	)		(32,071	)
Increase		9,234		$	107,337			14,548		$	175,726
Class R3 Shares
Shares sold		17,669		$	204,913			11,924		$	146,407
Reinvestment of distributions		907			10,534			964			11,568
Shares reacquired		(8,969	)		(104,654	)		(5,526	)		(66,975	)
Increase		9,607		$	110,793			7,362		$	91,000
Class R4 Shares
Shares sold		68,546		$	795,403			29,188		$	346,200
Reinvestment of distributions		2,890			33,561			3,248			39,103
Shares reacquired		(14,310	)		(165,578	)		(50,448	)		(607,982	)
Increase (decrease)		57,126		$	663,386			(18,012	)	$	(222,679	)
Class R5 Shares
Shares sold		140,816		$	1,639,878			40,343		$	491,893
Reinvestment of distributions		924			10,693			856			10,222
Shares reacquired		(17,462	)		(202,339	)		(24,996	)		(299,791	)
Increase		124,278		$	1,448,232			16,203		$	202,324
Class R6 Shares
Shares sold		457,654		$	5,319,474			338,028		$	4,126,622
Reinvestment of distributions		12,182			141,301			27,006			326,394
Shares reacquired		(614,916	)		(7,149,250	)		(738,633	)		(9,022,895	)
Decrease		(145,080	)	$	(1,688,475	)		(373,599	)	$	(4,569,879	)

446

Notes to Financial Statements (continued)

Short Duration Core Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		6,178,013		$	56,500,457			6,403,922		$	59,524,202
Reinvestment of distributions		179,765			1,646,061			137,792			1,279,326
Shares reacquired		(2,787,056	)		(25,531,524	)		(6,457,288	)		(59,720,479	)
Increase		3,570,722		$	32,614,994			84,426		$	1,083,049
Class C Shares
Shares sold		209,169		$	1,913,775			457,372		$	4,270,467
Reinvestment of distributions		10,011			91,587			8,953			83,030
Shares reacquired		(147,815	)		(1,352,487	)		(390,899	)		(3,644,705	)
Increase		71,365		$	652,875			75,426		$	708,792
Class F Shares
Shares sold		2,013,273		$	18,410,250			3,627,701		$	34,474,797
Reinvestment of distributions		73,306			670,706			161,195			1,517,970
Shares reacquired		(1,070,019	)		(9,815,432	)		(12,377,499	)		(116,115,585	)
Increase (decrease)		1,016,560		$	9,265,524			(8,588,603	)	$	(80,122,818	)
Class F3 Shares
Shares sold		1,741,217		$	15,943,350			3,616,311		$	33,376,004
Reinvestment of distributions		90,718			829,974			37,695			345,144
Shares reacquired		(1,037,334	)		(9,499,770	)		(419,407	)		(3,842,017	)
Increase		794,601		$	7,273,554			3,234,599		$	29,879,131
Class I Shares
Shares sold		13,954,914		$	127,756,014			21,479,031		$	203,967,439
Reinvestment of distributions		455,074			4,163,520			323,371			3,002,962
Shares reacquired		(5,331,254	)		(48,775,714	)		(9,653,659	)		(90,247,232	)
Increase		9,078,734		$	83,143,820			12,148,743		$	116,723,169
Class R3 Shares
Shares sold		11,136		$	101,807			70,174		$	654,719
Reinvestment of distributions		1,308			11,963			1,050			9,657
Shares reacquired		(11,595	)		(105,800	)		(13,534	)		(123,739	)
Increase		849		$	7,970			57,690		$	540,637
Class R4 Shares
Shares sold		970		$	8,916			–		$	–
Reinvestment of distributions		6			57			–			–
Shares reacquired		–			(2	)		–			–
Increase		976		$	8,971			–		$	–
Class R6 Shares
Shares sold		16,666		$	152,508			17,221		$	160,929
Reinvestment of distributions		1,872			17,128			2,821			26,265
Shares reacquired		(48,319	)		(442,087	)		(17,212	)		(162,501	)
Increase (decrease)		(29,781	)	$	(272,451	)		2,830		$	24,693

447

Notes to Financial Statements (continued)

Short Duration Income Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		185,856,100		$	716,177,258			490,607,745		$	1,963,200,375
Reinvestment of distributions		43,227,747			166,503,798			73,945,545			292,377,093
Shares reacquired		(523,138,771	)		(2,015,159,894	)		(1,274,291,499	)		(5,070,978,902	)
Decrease		(294,054,924	)	$	(1,132,478,838	)		(709,738,209	)	$	(2,815,401,434	)
Class C Shares
Shares sold		20,880,924		$	80,941,778			50,330,721		$	202,641,707
Reinvestment of distributions		8,603,384			33,339,349			14,230,438			56,577,940
Shares reacquired		(109,855,773	)		(425,753,376	)		(309,426,259	)		(1,238,564,491	)
Decrease		(80,371,465	)	$	(311,472,249	)		(244,865,100	)	$	(979,344,844	)
Class F Shares
Shares sold		162,505,137		$	626,412,505			1,568,855,724		$	6,337,768,151
Reinvestment of distributions		22,325,299			85,941,267			91,866,479			366,514,517
Shares reacquired		(1,137,804,042	)		(4,384,750,335	)		(6,522,252,791	)		(26,108,886,894	)
Decrease		(952,973,606	)	$	(3,672,396,563	)		(4,861,530,588	)	$	(19,404,604,226	)
Class F3 Shares
Shares sold		207,748,511		$	801,717,934			680,026,268		$	2,725,996,746
Reinvestment of distributions		27,780,354			107,098,196			40,420,017			159,685,720
Shares reacquired		(289,220,906	)		(1,115,609,530	)		(614,627,147	)		(2,438,248,185	)
Increase (decrease)		(53,692,041	)	$	(206,793,400	)		105,819,138		$	447,434,281
Class I Shares
Shares sold		2,215,480,854		$	8,532,313,101			6,901,169,782		$	27,454,118,771
Reinvestment of distributions		131,652,730			506,217,731			147,751,134			579,429,805
Shares reacquired		(1,899,755,575	)		(7,313,510,810	)		(3,288,581,346	)		(12,943,262,670	)
Increase		447,378,009		$	1,725,020,022			3,760,339,570		$	15,090,285,906
Class R2 Shares
Shares sold		272,449		$	1,051,664			354,528		$	1,418,626
Reinvestment of distributions		27,710			106,727			49,607			195,880
Shares reacquired		(203,706	)		(783,289	)		(1,137,216	)		(4,476,566	)
Increase (decrease)		96,453		$	375,102			(733,081	)	$	(2,862,060	)
Class R3 Shares
Shares sold		4,717,740		$	18,193,366			16,752,343		$	67,016,218
Reinvestment of distributions		1,796,445			6,925,554			2,563,596			10,127,569
Shares reacquired		(10,938,103	)		(42,163,949	)		(24,449,922	)		(97,446,789	)
Decrease		(4,423,918	)	$	(17,045,029	)		(5,133,983	)	$	(20,303,002	)
Class R4 Shares
Shares sold		5,844,010		$	22,575,559			16,279,331		$	65,283,533
Reinvestment of distributions		644,301			2,484,984			949,088			3,749,715
Shares reacquired		(6,191,857	)		(23,921,652	)		(19,490,244	)		(77,319,388	)
Increase (decrease)		296,454		$	1,138,891			(2,261,825	)	$	(8,286,140	)

448

Notes to Financial Statements (continued)

Short Duration Income Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class R5 Shares	Shares			Amount			Shares			Amount
Shares sold		1,658,855		$	6,378,719			7,366,090		$	29,208,887
Reinvestment of distributions		360,031			1,384,396			473,092			1,860,216
Shares reacquired		(3,445,170	)		(13,264,726	)		(5,964,672	)		(23,708,173	)
Increase (decrease)		(1,426,284	)	$	(5,501,611	)		1,874,510		$	7,360,930
Class R6 Shares
Shares sold		57,898,287		$	223,034,104			164,135,242		$	650,020,416
Reinvestment of distributions		5,854,256			22,520,281			7,529,849			29,715,109
Shares reacquired		(62,307,938	)		(239,734,234	)		(139,519,261	)		(554,775,455	)
Increase		1,444,605		$	5,820,151			32,145,830		$	124,960,070

Total Return Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		10,532,356		$	93,080,051			14,228,110		$	133,168,928
Reinvestment of distributions		2,241,327			19,752,478			4,103,051			38,953,806
Shares reacquired		(13,059,444	)		(115,398,121	)		(30,547,930	)		(286,337,421	)
Decrease		(285,761	)	$	(2,565,592	)		(12,216,769	)	$	(114,214,687	)
Class C Shares
Shares sold		434,468		$	3,835,073			378,154		$	3,549,253
Reinvestment of distributions		64,086			564,340			142,128			1,358,434
Shares reacquired		(912,073	)		(8,037,473	)		(2,266,905	)		(21,200,363	)
Decrease		(413,519	)	$	(3,638,060	)		(1,746,623	)	$	(16,292,676	)
Class F Shares
Shares sold		2,466,938		$	21,786,945			10,394,306		$	100,480,992
Reinvestment of distributions		417,361			3,677,765			2,110,774			20,601,043
Shares reacquired		(19,466,877	)		(172,158,725	)		(86,350,774	)		(826,335,367	)
Decrease		(16,582,578	)	$	(146,694,015	)		(73,845,694	)	$	(705,253,332	)
Class F3 Shares
Shares sold		13,568,213		$	119,940,207			16,533,652		$	156,710,513
Reinvestment of distributions		1,905,732			16,801,959			3,269,704			31,013,961
Shares reacquired		(9,645,950	)		(85,219,745	)		(22,715,218	)		(214,115,018	)
Increase (decrease)		5,827,995		$	51,522,421			(2,911,862	)	$	(26,390,544	)
Class I Shares
Shares sold		40,775,610		$	361,434,661			66,474,053		$	622,399,434
Reinvestment of distributions		1,933,555			17,076,662			2,223,353			20,683,532
Shares reacquired		(15,499,260	)		(137,152,621	)		(22,853,408	)		(209,265,780	)
Increase		27,209,905		$	241,358,702			45,843,998		$	433,817,186

449

Notes to Financial Statements (continued)

Total Return Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class P Shares	Shares			Amount			Shares			Amount
Shares sold		1,677		$	14,876			4,293		$	41,278
Reinvestment of distributions		1,171			10,371			2,116			20,248
Shares reacquired		(3,237	)		(28,931	)		(14,962	)		(142,881	)
Decrease		(389	)	$	(3,684	)		(8,553	)	$	(81,355	)
Class R2 Shares
Shares sold		5,989		$	52,729			12,145		$	115,184
Reinvestment of distributions		2,709			23,868			4,465			42,426
Shares reacquired		(4,342	)		(38,014	)		(47,595	)		(464,350	)
Increase (decrease)		4,356		$	38,583			(30,985	)	$	(306,740	)
Class R3 Shares
Shares sold		409,598		$	3,610,762			488,238		$	4,650,109
Reinvestment of distributions		63,142			556,359			115,568			1,098,695
Shares reacquired		(455,000	)		(4,013,186	)		(1,026,780	)		(9,608,266	)
Increase (decrease)		17,740		$	153,935			(422,974	)	$	(3,859,462	)
Class R4 Shares
Shares sold		732,837		$	6,461,545			1,078,982		$	10,187,678
Reinvestment of distributions		40,185			354,097			63,283			601,435
Shares reacquired		(724,820	)		(6,396,615	)		(1,898,691	)		(18,141,072	)
Increase (decrease)		48,202		$	419,027			(756,426	)	$	(7,351,959	)
Class R5 Shares
Shares sold		289,052		$	2,546,465			1,308,996		$	12,912,920
Reinvestment of distributions		34,221			301,687			238,298			2,277,634
Shares reacquired		(588,600	)		(5,196,272	)		(6,480,259	)		(57,182,494	)
Decrease		(265,327	)	$	(2,348,120	)		(4,932,965	)	$	(41,991,940	)
Class R6 Shares		Shares			Amount			Shares			Amount
Shares sold		3,424,077		$	30,300,058			5,495,944		$	52,428,664
Reinvestment of distributions		459,232			4,051,320			833,626			7,918,087
Shares reacquired		(2,930,810	)		(25,907,769	)		(9,342,952	)		(88,847,687	)
Increase (decrease)		952,499		$	8,443,609			(3,013,382	)	$	(28,500,936	)
Ultra Short Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		50,383,971		$	496,577,381			201,031,660		$	1,996,294,785
Reinvestment of distributions		8,524,149			84,078,228			9,489,914			93,398,466
Shares reacquired		(174,469,654	)		(1,719,171,203	)		(684,513,149	)		(6,767,649,390	)
Decrease		(115,561,534	)	$	(1,138,515,594	)		(473,991,575	)	$	(4,677,956,139	)

450

Notes to Financial Statements (concluded)

Ultra Short Bond Fund	Six Months Ended May 31, 2023 (unaudited					)	Year Ended November 30, 2022
Class A1 Shares
Shares sold		10,555		$	104,238			168,930		$	1,675,747
Reinvestment of distributions		6,722			66,316			7,631			75,197
Shares reacquired		(76,635	)		(756,310	)		(1,105,431	)		(10,955,420	)
Decrease		(59,358	)	$	(585,756	)		(928,870	)	$	(9,204,476	)
Class F Shares
Shares sold		23,435,448		$	230,640,496			160,865,643		$	1,596,579,072
Reinvestment of distributions		1,479,515			14,586,889			3,159,355			31,160,512
Shares reacquired		(107,965,157	)		(1,064,840,221	)		(568,248,109	)		(5,626,812,931	)
Decrease		(83,050,194	)	$	(819,612,836	)		(404,223,111	)	$	(3,999,073,347	)
Class F3 Shares
Shares sold		27,556,312		$	271,705,204			86,723,432		$	861,857,028
Reinvestment of distributions		1,124,886			11,095,148			932,686			9,172,907
Shares reacquired		(33,787,064	)		(332,873,767	)		(62,099,912	)		(613,524,756	)
Increase (decrease)		(5,105,866	)	$	(50,073,415	)		25,556,206		$	257,505,179
Class I Shares
Shares sold		210,664,456		$	2,076,525,101			573,124,802		$	5,656,176,028
Reinvestment of distributions		7,032,602			69,376,614			4,360,373			42,819,447
Shares reacquired		(197,399,063	)		(1,945,552,816	)		(310,913,480	)		(3,061,132,979	)
Increase		20,297,995		$	200,348,899			266,571,695		$	2,637,862,496
Class R5 Shares
Shares sold		4,697		$	46,370			2,809		$	27,469
Reinvestment of distributions		292			2,877			254			2,509
Shares reacquired		(539	)		(5,314	)		(48,874	)		(485,552	)
Increase (decrease)		4,450		$	43,933			(45,811	)	$	(455,574	)
Class R6 Shares
Shares sold		1,092,100		$	10,780,378			1,947,328		$	19,236,213
Reinvestment of distributions		119,967			1,183,283			123,031			1,210,694
Shares reacquired		(1,936,496	)		(19,067,851	)		(3,749,329	)		(37,042,431	)
Decrease		(724,429	)	$	(7,104,190	)		(1,678,970	)	$	(16,595,524	)

451

Investment Trust – Main Book

(Lord Abbett Convertible Fund, Lord Abbett Core Fixed Income Fund, Lord Abbett Core Plus Bond Fund, Lord Abbett Corporate Bond Fund, Lord Abbett Floating Rate Fund, Lord Abbett High Yield Fund, Lord Abbett Income Fund, Lord Abbett Inflation Focused Fund, Lord Abbett Short Duration Core Bond Fund, Lord Abbett Short Duration Income Fund, Lord Abbett Total Return Fund, and Lord Abbett Ultra Short Bond Fund)

Approval of Advisory Contract

The Board, including all of the Trustees who are not “interested persons” of the Company or of Lord Abbett, as defined in the Investment Company Act of 1940, as amended (the “Independent Trustees”), annually considers whether to approve the continuation of the existing management agreement between each Fund and Lord Abbett (the “Agreement”). In connection with its most recent approval, the Board reviewed materials relating specifically to the Agreement, as well as numerous materials received throughout the course of the year, including information about each Fund’s investment performance compared to the performance of an appropriate benchmark. Before making its decision as to each Fund, the Board had the opportunity to ask questions and request further information, taking into account its knowledge of Lord Abbett gained through its meetings and discussions. The Independent Trustees also met with their independent legal counsel in various private sessions at which no representatives of management were present.

The materials received by the Board as to each Fund included, but were not limited to: (1) information provided by Broadridge Financial Solutions (“Broadridge”) regarding the investment performance of the Fund compared to the investment performance of certain funds with similar investment styles as determined by Broadridge, based, in part, on the Fund’s Morningstar category (the “performance peer group”), and the investment performance of one or more appropriate benchmarks; (2) information provided by Broadridge regarding the expense ratios, contractual and actual management fee rates, and other expense components for the Fund and certain funds in the same Morningstar category, with generally the same or similar share classes and operational characteristics, including asset size (the “expense peer group”); (3) certain supplemental investment performance information provided by Lord Abbett; (4) information provided by Lord Abbett on the expense ratios, management fee rates, and other expense components for the Fund; (5) sales and redemption information for the Fund; (6) information regarding Lord Abbett’s financial condition; (7) an analysis of the relative profitability to Lord Abbett of providing management and administrative services to the Funds; (8) information provided by Lord Abbett regarding the investment management fee schedules for Lord Abbett’s other advisory clients maintaining accounts with a similar investment strategy as the Fund (for each Fund other than Corporate Bond Fund, Income Fund, and Inflation Focused Fund); and (9) information regarding the personnel and other resources devoted by Lord Abbett to managing the Fund.

Investment Management and Related Services Generally. The Board considered the services provided by Lord Abbett to each Fund, including investment research, portfolio management, and trading, and Lord Abbett’s commitment to compliance with all applicable legal requirements. The Board also observed that Lord Abbett was solely engaged in the investment management business and accordingly did not experience the conflicts of interest that may result from being engaged in other lines of business. The Board considered the investment advisory services provided by Lord Abbett to other clients, the fees charged for the services, and the differences in the nature of the services provided to each Fund and other Lord Abbett Funds, on the one hand, and the services provided to other clients, on the other. After reviewing these and related factors, the Board

452

Approval of Advisory Contract (continued)

concluded that each Fund was likely to continue to benefit from the nature, extent and quality of the investment services provided by Lord Abbett under the Agreement.

Investment Performance. The Board reviewed each Fund’s investment performance in relation to that of its performance peer group and one or more appropriate benchmarks as of various periods ended June 30, 2022. As to Convertible Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-year period and above the median of the performance peer group for the three-, five-, and ten-year periods. As to Core Fixed Income Fund and Floating Rate Fund, the Board observed that the Funds’ investment performance was above the median of the performance peer group for the one-year period and below the median for the three-, five-, and ten-year periods. As to Total Return Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-, three-, five-, and ten-year periods. As to Core Plus Bond Fund, the Board observed that the Fund’s investment performance was equal to the median of the performance peer group for the one- and three-year periods, and above the median of the performance peer group for the five-year period. As to Corporate Bond Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-year period and equal to the median for the three- and five-year periods. As to Short Duration Core Bond Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-year period and below the median for the three- and five-year periods. As to Ultra Short Bond Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-, three- and five-year periods. As to High Yield Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-, three-, and five-year periods, but above the median of the performance peer group for the ten-year period. As to Income Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, five-, and ten-year periods. As to Short Duration Income Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-year period, equal to the performance peer group median for the three-year period and above the performance peer group median for the five- and ten-year periods. As to Inflation Focused Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, and five-year periods and below the median of the performance peer group for the ten-year period. The Board observed that the Fund outperformed both of its benchmarks for the three-, five-, and ten-year periods and outperformed one of its benchmarks for the one-year period but underperformed its other benchmark for the one-year period. The Board further considered Lord Abbett’s performance and reputation generally, the performance of other Lord Abbett-managed funds overseen by the Board, and the willingness of Lord Abbett to take steps intended to improve performance when appropriate. After reviewing these and other factors, including those described below, the Board concluded that each Fund’s Agreement should be continued.

Lord Abbett’s Personnel and Methods. The Board considered the qualifications of the personnel providing investment management services to each Fund, in light of its investment objective and discipline, and other services provided to each Fund by Lord Abbett. Among other things, the Board considered the size, experience, and turnover of Lord Abbett’s staff, Lord Abbett’s investment methodology and philosophy, and Lord Abbett’s approach to recruiting, training, and retaining personnel.

453

Approval of Advisory Contract (continued)

Nature and Quality of Other Services. The Board considered the nature, quality, and extent of compliance, administrative, and other services performed by Lord Abbett and the nature and extent of Lord Abbett’s supervision of third-party service providers, including each Fund’s transfer agent and custodian.

Expenses. The Board considered the expense level of each Fund, including the contractual and actual management fee rates, and the expense levels of the Fund’s expense peer group. It also considered how each of the expense level and the actual management fee rates of each Fund related to those of the expense peer group and the amount and nature of the fees paid by shareholders. As to Convertible Fund, the Board observed that the net total expense ratio and management fee of the Fund were both above the median of the expense peer group. As to Corporate Bond Fund and Inflation Focused Fund, the Board observed that the net total expense ratio was below the median of the expense peer group and the management fee was equal to the peer group median. As to High Yield Fund, the Board observed that the net total expense ratio was below the median of the expense peer group and the management fee was above the peer group median. As to each other Fund, the Board observed that the net total expense ratio and the management fee were both below the peer group median. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that the management fees paid by each Fund were reasonable in light of all of the factors it considered, including the nature, quality and extent of services provided by Lord Abbett.

Profitability. As to each Fund, the Board considered the level of Lord Abbett’s operating margin in managing the Fund, including a review of Lord Abbett’s methodology for allocating its costs to its management of the Fund. It considered whether each Fund was profitable to Lord Abbett in connection with the Fund’s operation, including the fee that Lord Abbett receives from the Fund for providing administrative services to the Fund. The Board considered Lord Abbett’s profit margins excluding Lord Abbett’s marketing and distribution expenses. The Board also considered Lord Abbett’s profit margins, without those exclusions, in comparison with available industry data and how those profit margins could affect Lord Abbett’s ability to recruit and retain personnel. The Board recognized that Lord Abbett’s overall profitability was a factor in enabling it to attract and retain qualified personnel to provide services to each Fund. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that Lord Abbett’s profitability with respect to each Fund was not excessive.

Economies of Scale. As to each Fund, the Board considered the extent to which there had been economies of scale in managing the Fund, whether the Fund’s shareholders had appropriately benefited from such economies of scale, and whether there was potential for realization of any further economies of scale. The Board also considered information provided by Lord Abbett regarding how it shares any potential economies of scale through its investments in its businesses supporting the Funds. The Board also considered each Fund’s existing management fee schedule, noting one or more contractual breakpoints in the level of management fee for each Fund other than Ultra Short Bond Fund, and, with respect to Core Plus Bond Fund, Corporate Bond Fund, and Short Duration Core Bond Fund, the Fund’s expense limitation agreement. Based on these considerations, the Board concluded that any economies of scale were adequately addressed in respect of each Fund.

454

Approval of Advisory Contract (concluded)

Other Benefits to Lord Abbett. As to each Fund, the Board considered the amount and nature of the fees paid by the Fund and the Fund’s shareholders to Lord Abbett and the Distributor for services other than investment advisory services, such as the fee that Lord Abbett receives from each Fund for providing administrative services to the Fund. The Board also considered the revenues and profitability of Lord Abbett’s investment advisory business apart from its mutual fund business, and the intangible benefits enjoyed by Lord Abbett by virtue of its relationship with each Fund. The Board observed that the Distributor receives 12b-1 fees from certain of the Lord Abbett Funds as to shares held in accounts for which there is no other broker of record, may retain a portion of the 12b-1 fees it receives, and receives a portion of the sales charges on sales and redemptions of some classes of shares of the Lord Abbett Funds. In addition, the Board observed that Lord Abbett accrues certain benefits for its business of providing investment advice to clients other than the Lord Abbett Funds, but that business also benefits the Funds. The Board also noted that Lord Abbett, as disclosed in the prospectus of each Fund, has entered into revenue sharing arrangements with certain entities that distribute shares of the Lord Abbett Funds. The Board also took into consideration the investment research that Lord Abbett receives as a result of client brokerage transactions.

Alternative Arrangements. As to each Fund, the Board considered whether, instead of approving continuation of the Agreement, it might be in the best interests of the Fund to implement one or more alternative arrangements, such as continuing to employ Lord Abbett, but on different terms. After considering all of the relevant factors, the Board unanimously found that continuation of the Agreement was in the best interests of each Fund and its shareholders and voted unanimously to approve the continuation of the Agreement on behalf of each Fund. As to each Fund, in considering whether to approve the continuation of the Agreement, the Board did not identify any single factor as paramount or controlling. Individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. This summary does not discuss in detail all matters considered.

455

Liquidity Risk Management Program

Pursuant to Rule 22e-4 under the 1940 Act, each Fund has adopted a Liquidity Risk Management Program and Policy (“Program”). The Program is designed to assess, manage and periodically review each Fund’s liquidity risk. Liquidity risk is defined under Rule 22e-4 as the risk that each Fund could not meet redemption requests without significant dilution of remaining investors’ interests in the Fund. The Board has appointed Lord Abbett as the administrator for each Fund’s Program. At the May 17, 2023 meeting, Lord Abbett provided the Board with a report addressing the operation of the Program and assessing its adequacy and effectiveness of implementation for the period April 1, 2022 through March 31, 2023. Lord Abbett reported that the Program operated effectively during the period. In particular, Lord Abbett reported that: no Fund breached its 15% limit on illiquid investments at any point during the period and all regulatory reporting related to Rule 22e-4 was completed on time and without issue during the period. There can be no assurance that the Program will achieve its objectives in the future. Please refer to the Funds’ prospectus for more information regarding each Fund’s exposure to liquidity risk and other principal risks to which an investment in each Fund may be subject.

Householding

The Trust has adopted a policy that allows it to send only one copy of each Fund’s prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same “household.” This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be “householded,” please call Lord Abbett at 888-522-2388 or send a written request with your name, the name of your fund or funds and your account number or numbers to Lord Abbett Funds Service Center, P.O. Box 534489, Pittsburgh, PA 15253-4489 (regular mail) or 500 Ross Street 154-0520, Attention: 534489, Pittsburgh, PA 15252 (overnight mail).

Proxy Voting Policies, Procedures and Records

A description of the policies and procedures that Lord Abbett uses to vote proxies related to each Fund’s portfolio securities, and information on how Lord Abbett voted each Fund’s proxies during the 12-month period ended June 30 are available without charge, upon request, (i) by calling 888-522-2388; (ii) on Lord Abbett’s website at www.lordabbett.com; and (iii) on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an attachment to Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and may be available by calling Lord Abbett at 888-522-2388.

456

 

    This report, when not used for the general information of shareholders of the Fund, is to be distributed only if preceded or accompanied by a current fund prospectus.   Lord Abbett mutual fund shares are distributed by LORD ABBETT DISTRIBUTOR LLC. Lord Abbett Investment Trust   Lord Abbett Convertible Fund   Lord Abbett Core Fixed Income Fund   Lord Abbett Core Plus Bond Fund   Lord Abbett Corporate Bond Fund   Lord Abbett Floating Rate Fund   Lord Abbett High Yield Fund   Lord Abbett Income Fund   Lord Abbett Inflation Focused Fund   Lord Abbett Short Duration Core Bond Fund   Lord Abbett Short Duration Income Fund   Lord Abbett Total Return Fund   Lord Abbett Ultra Short Bond Fund LAIT-3
(07/23)

LORD ABBETT
SEMIANNUAL REPORT

Lord Abbett

Multi-Asset Balanced Opportunity Fund

Multi-Asset Income Fund

For the six-month period ended May 31, 2023

Table of Contents

1	A Letter to Shareholders
2	Information About Your Fund’s Expenses and Holdings Presented by Portfolio Allocation
	Schedules of Investments:
7	Multi-Asset Balanced Opportunity Fund
9	Multi-Asset Income Fund
11	Statements of Assets and Liabilities
13	Statements of Operations
14	Statements of Changes in Net Assets
16	Financial Highlights
24	Notes to Financial Statements
43	Supplemental Information to Shareholders

Lord Abbett Investment Trust

Lord Abbett Multi-Asset Balanced Opportunity Fund
and Lord Abbett Multi-Asset Income Fund
Semiannual Report

For the six-month period ended May 31, 2023

From left to right: James L.L. Tullis, Independent Chair of the Lord Abbett Funds and Douglas B. Sieg, Trustee, President and Chief Executive Officer of the Lord Abbett Funds. Dear Shareholders: We are pleased to provide you with this semiannual report for the Funds for the six-month period ended May 31, 2023. For additional information about the Funds, please visit our website at www.lordabbett.com, where you can access the quarterly commentaries by the Funds’ portfolio managers. General information about Lord Abbett mutual funds, as well as in-depth discussions of market trends and investment strategies, is also provided in Lord Abbett Insights, a quarterly newsletter available on our website. Thank you for investing in Lord Abbett mutual funds. We value the trust that you place in us and look forward to serving your investment needs in the years to come.   Best regards, Douglas B. Sieg Trustee, President and Chief Executive Officer

1

Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments (these charges vary among the share classes); and (2) ongoing costs, including management fees; distribution and service (12b-1) fees (these charges vary among the share classes); and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 through May 31, 2023).

Actual Expenses

For each class of each Fund, the first line of the applicable table on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled “Expenses Paid During Period 12/1/22 – 5/31/23” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

For each class of each Fund, the second line of the applicable table on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in each Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

2

Multi-Asset Balanced Opportunity Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†#
	12/1/22		5/31/23		12/1/22 - 5/31/23
Class A
Actual	$	1,000.00	$	992.50	$	2.53
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.39	$	2.57
Class C
Actual	$	1,000.00	$	989.40	$	6.25
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.65	$	6.34
Class F
Actual	$	1,000.00	$	993.20	$	1.79
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.14	$	1.82
Class F3
Actual	$	1,000.00	$	993.90	$	0.89
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,024.03	$	0.91
Class I
Actual	$	1,000.00	$	993.80	$	1.29
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.64	$	1.31
Class P
Actual	$	1,000.00	$	991.60	$	3.48
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.44	$	3.53
Class R2
Actual	$	1,000.00	$	991.00	$	4.27
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.64	$	4.33
Class R3
Actual	$	1,000.00	$	991.40	$	3.72
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.19	$	3.78
Class R4
Actual	$	1,000.00	$	993.50	$	2.53
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.39	$	2.57
Class R5
Actual	$	1,000.00	$	993.80	$	1.29
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.64	$	1.31
Class R6
Actual	$	1,000.00	$	994.90	$	0.90
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,024.03	$	0.91

†

For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.51% for Class A, 1.26% for Class C, 0.36% for Class F, 0.18% for Class F3, 0.26% for Class I, 0.70% for Class P, 0.86% for Class R2, 0.75% for Class R3, 0.51% for Class R4, 0.26% for Class R5 and 0.18% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

#

Does not include expenses of the Underlying Funds in which Multi-Asset Balanced Opportunity Fund invests.

3

Portfolio Holdings Presented by Portfolio Allocation

May 31, 2023

Underlying Fund Name	%*
Lord Abbett Investment Trust-Convertible Fund-Class I		1.11	%
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I		17.26	%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I		19.21	%
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I		3.90	%
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I		18.31	%
Lord Abbett Securities Trust-Growth Leaders Fund-Class I		9.20	%
Lord Abbett Investment Trust-High Yield Fund-Class I		6.53	%
Lord Abbett Investment Trust-Income Fund-Class I		2.03	%
Lord Abbett Investment Trust-Inflation Focused Fund-Class I		4.03	%
Lord Abbett Securities Trust-International Equity Fund-Class I		4.53	%
Lord Abbett Securities Trust-International Value Fund Class I		3.88	%
Lord Abbett Investment Trust-Short Duration Income Fund-Class I		0.90	%
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I		9.03	%
Repurchase Agreements		0.08	%
Total		100.00	%

* Represents percent of total investments, which excludes derivatives.

4

Multi-Asset Income Fund

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value		Ending Account Value		Expenses Paid During Period†#
	12/1/22		5/31/23		12/1/22 - 5/31/23
Class A
Actual	$	1,000.00	$	1,000.20	$	2.49
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.44	$	2.52
Class C
Actual	$	1,000.00	$	996.80	$	6.22
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,018.70	$	6.29
Class F
Actual	$	1,000.00	$	1,000.90	$	1.75
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.19	$	1.77
Class F3
Actual	$	1,000.00	$	1,002.20	$	0.95
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.98	$	0.96
Class I
Actual	$	1,000.00	$	1,001.50	$	1.25
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.68	$	1.26
Class R2
Actual	$	1,000.00	$	998.50	$	4.24
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,020.69	$	4.28
Class R3
Actual	$	1,000.00	$	999.70	$	3.74
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,021.19	$	3.78
Class R4
Actual	$	1,000.00	$	1,000.20	$	2.49
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,022.44	$	2.52
Class R5
Actual	$	1,000.00	$	1,001.50	$	1.25
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.68	$	1.26
Class R6
Actual	$	1,000.00	$	1,002.20	$	0.95
Hypothetical (5% Return Before Expenses)	$	1,000.00	$	1,023.98	$	0.96

†

For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.50% for Class A, 1.25% for Class C, 0.35% for Class F, 0.19% for Class F3, 0.25% for Class I, 0.85% for Class R2, 0.75% for Class R3, 0.50% for Class R4, 0.25% for Class R5 and 0.19% for Class R6) multiplied by the average account value over the period, multiplied by 182/365 (to reflect one-half year period).

#

Does not include expenses of the Underlying Funds in which Multi-Asset Income Fund invests.

5

Portfolio Holdings Presented by Portfolio Allocation

May 31, 2023

Underlying Fund Name	%*
Lord Abbett Investment Trust-Convertible Fund-Class I		0.32	%
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I		33.95	%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I		10.58	%
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I		3.36	%
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I		10.40	%
Lord Abbett Securities Trust-Growth Leaders Fund-Class I		4.50	%
Lord Abbett Investment Trust-High Yield Fund-Class I		8.92	%
Lord Abbett Investment Trust-Income Fund-Class I		2.03	%
Lord Abbett Investment Trust-Inflation Focused Fund-Class I		6.04	%
Lord Abbett Securities Trust-International Equity Fund-Class I		4.98	%
Lord Abbett Securities Trust-International Value Fund-Class I		3.95	%
Lord Abbett Investment Trust-Short Duration Income Fund-Class I		0.97	%
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I		9.92	%
Repurchase Agreements		0.08	%
Total		100.00	%

* Represents percent of total investments, which excludes derivatives.

6

Schedule of Investments (unaudited)

MULTI-ASSET BALANCED OPPORTUNITY FUND May 31, 2023

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.65%
INVESTMENTS IN UNDERLYING FUNDS(a)(b) 99.65%
Lord Abbett Investment Trust-Convertible Fund-Class I(c)		1,737,462	$	21,214,407
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I(d)		35,507,528		330,930,157
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I(e)		21,009,863		368,302,903
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I(f)		18,975,963		74,765,293
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I*(g)		29,794,244		350,976,200
Lord Abbett Securities Trust-Growth Leaders Fund-Class I*(h)		6,008,921		176,301,734
Lord Abbett Investment Trust-High Yield Fund-Class I(i)		20,465,689		125,250,018
Lord Abbett Investment Trust-Income Fund-Class I(j)		16,157,952		38,940,664
Lord Abbett Investment Trust-Inflation Focused Fund-Class I(k)		6,697,123		77,150,851
Lord Abbett Securities Trust-International Equity Fund-Class I(l)		6,612,427		86,887,294
Lord Abbett Securities Trust-International Value Fund-Class I(m)		10,547,594		74,466,016
Lord Abbett Investment Trust-Short Duration Income Fund-Class I(j)		4,501,550		17,240,937
Lord Abbett Investment Trust-Ultra Short Bond Fund(n)		17,532,923		173,049,950
Total Investments in Underlying Funds (cost 2,046,196,068)				1,915,476,424
OPTIONS PURCHASED 0.05% (cost $569,031)				862,118
	Principal Amount
SHORT-TERM INVESTMENTS 0.08%
REPURCHASE AGREEMENTS 0.08%
Repurchase Agreement dated 5/31/2023, 2.60% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $1,711,000 of U.S. Treasury Note at 0.50% due 2/28/2026; value: $1,551,797; proceeds: $1,521,469 (cost $1,521,359)	$	1,521,359		1,521,359
Total Investments in Securities 99.78% (cost $2,048,286,458)				1,917,859,901
Other Assets and Liabilities – Net(o) 0.22%				4,274,516
Net Assets 100.00%			$	1,922,134,417

*	Non-income producing security.
(a)	Affiliated issuers (See Note 12).
(b)	These investments offer daily redemptions.
(c)	Fund investment objective is to seek current income and the opportunity for capital appreciation to produce a high total return.
(d)	Fund investment objective is to seek income and capital appreciation to produce a high total return.
(e)	Fund investment objective is to seek current income and capital appreciation.
(f)	Fund investment objective is to seek high total return.
(g)	Fund investment objective is long-term growth of capital and income without excessive fluctuations in market value.
(h)	Fund investment objective is to seek capital appreciation.

See Notes to Financial Statements. 7

Schedule of Investments (unaudited)(concluded)

MULTI-ASSET BALANCED OPPORTUNITY FUND May 31, 2023

(i)	Fund investment objective is to seek high current income and the opportunity for capital appreciation to produce a high total return.
(j)	Fund investment objective is to seek a high level of income consistent with preservation of capital.
(k)	Fund investment objective is to provide investment returns that exceed the rate of inflation in the U.S. economy over a full economic cycle and to seek current income.
(l)	Fund investment objective is to seek long-term capital appreciation.
(m)	Fund investment objective is to seek a high level of total return.
(n)	Fund investment objective is to seek current income consistent with the preservation of capital.
(o)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on futures contracts and options purchased as follows:

OTC Options Purchased at May 31, 2023:

Description	Counterparty	Number of Contracts		Expiration Date	Exercise Price		Notional Amount		Value
EUR vs. USD, Put	Bank of America		37,675,000	8/18/2023		$1.075		$37,675,000	$	545,549
EUR vs. USD, Put	Goldman Sachs		37,675,000	8/18/2023		1.06		37,675,000		316,569
Total OTC Options Purchased									$	862,118

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts		Position	Notional Amount			Notional Value			Unrealized Depreciation
E-Mini Russell 1000 Index	June 2023		942	Short		$(102,789,631	)		$(107,877,840	)		$(5,088,209	)

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2		Level 3		Total
Long-Term Investments
Investments in Underlying Funds	$	1,915,476,424		$	–	$	–	$	1,915,476,424
OTC Options Purchased		–			862,118		–		862,118
Short-Term Investments
Repurchase Agreements		–			1,521,359		–		1,521,359
Total	$	1,915,476,424		$	2,383,477	$	–	$	1,917,859,901
Other Financial Instruments
Futures Contracts
Assets	$	–		$	–	$	–	$	–
Liabilities		(5,088,209	)		–		–		(5,088,209	)
Total	$	(5,088,209	)	$	–	$	–	$	(5,088,209	)

(1)	Refer to Note 2(m) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each investment in Underlying Funds. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

8 See Notes to Financial Statements.

Schedule of Investments (unaudited)

MULTI-ASSET INCOME FUND May 31, 2023

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.64%
INVESTMENTS IN UNDERLYING FUNDS(a)(b) 99.64%
Lord Abbett Investment Trust-Convertible Fund-Class I(c)		233,317	$	2,848,801
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I(d)		32,037,112		298,585,880
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I(e)		5,309,362		93,073,119
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I(f)		7,509,352		29,586,848
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I*(g)		7,761,591		91,431,545
Lord Abbett Securities Trust-Growth Leaders Fund-Class I*(h)		1,347,754		39,543,102
Lord Abbett Investment Trust-High Yield Fund-Class I(i)		12,812,226		78,410,820
Lord Abbett Investment Trust-Income Fund-Class I(j)		7,403,197		17,841,704
Lord Abbett Investment Trust-Inflation Focused Fund-Class I(k)		4,609,902		53,106,068
Lord Abbett Securities Trust-International Equity Fund-Class I(l)		3,334,466		43,814,888
Lord Abbett Securities Trust-International Value Fund-Class I(m)		4,920,511		34,738,807
Lord Abbett Investment Trust-Short Duration Income Fund-Class I(j)		2,230,693		8,543,553
Lord Abbett Investment Trust-Ultra Short Bond Fund(n)		8,839,488		87,245,750
Total Investments in Underlying Funds (cost 948,733,449)				878,770,885
OPTIONS PURCHASED 0.05% (cost $261,671)				396,449
	Principal Amount
SHORT-TERM INVESTMENTS 0.08%
REPURCHASE AGREEMENTS 0.08%
Repurchase Agreement dated 5/31/2023, 2.60% due 6/1/2023 with Fixed Income Clearing Corp. collateralized by $741,500 of U.S. Treasury Note at 4.625% due 3/15/2026; value: $758,176; proceeds: $743,317 (cost $743,263)	$	743,263		743,263
Total Investments in Securities 99.77% (cost $949,738,383)				879,910,597
Other Assets and Liabilities – Net(0) 0.23%				2,017,573
Net Assets 100.00%			$	881,928,170

*	Non-income producing security.
(a)	Affiliated issuers (See Note 12).
(b)	These investments offer daily redemptions.
(c)	Fund investment objective is to seek current income and the opportunity for capital appreciation to produce a high total return.
(d)	Fund investment objective is to seek income and capital appreciation to produce a high total return.
(e)	Fund investment objective is to seek current income and capital appreciation.
(f)	Fund investment objective is to seek high total return.
(g)	Fund investment objective is long-term growth of capital and income without excessive fluctuations in market value.
(h)	Fund investment objective is to seek capital appreciation.

See Notes to Financial Statements. 9

Schedule of Investments (unaudited)(concluded)

MULTI-ASSET INCOME FUND May 31, 2023

(i)	Fund investment objective is to seek high current income and the opportunity for capital appreciation to produce a high total return.
(j)	Fund investment objective is to seek a high level of income consistent with preservation of capital.
(k)	Fund investment objective is to provide investment returns that exceed the rate of inflation in the U.S. economy over a full economic cycle and to seek current income.
(l)	Fund investment objective is to seek long-term capital appreciation.
(m)	Fund investment objective is to seek a high level of total return.
(n)	Fund investment objective is to seek current income consistent with the preservation of capital.
(o)	Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on futures contracts and options purchased as follows:

OTC Options Purchased at May 31, 2023:

Description	Counterparty	Number of Contracts		Expiration Date	Exercise Price		Notional Amount		Value
EUR vs. USD, Put	Bank of America		17,325,000	8/18/2023		$1.075		$17,325,000	$	250,873
EUR vs. USD, Put	Goldman Sachs		17,325,000	8/18/2023		1.06		17,325,000		145,576
Total OTC Options Purchased									$	396,449

Futures Contracts at May 31, 2023:

Type	Expiration	Contracts		Position	Notional Amount			Notional Value			Unrealized Depreciation
E-Mini Russell 1000 Index	June 2023		441	Short		$(48,117,593	)		$(50,503,320	)		$(2,385,727	)

The following is a summary of the inputs used as of May 31, 2023 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type(2)	Level 1			Level 2		Level 3		Total
Long-Term Investments
Investments in Underlying Funds	$	878,770,885		$	–	$	–	$	878,770,885
OTC Options Purchased		–			396,449		–		396,449
Short-Term Investments
Repurchase Agreements		–			743,263		–		743,263
Total	$	878,770,885		$	1,139,712	$	–	$	879,910,597
Other Financial Instruments
Futures Contracts
Assets	$	–		$	–	$	–	$	–
Liabilities		(2,385,727	)		–		–		(2,385,727	)
Total	$	(2,385,727	)	$	–	$	–	$	(2,385,727	)

(1)	Refer to Note 2(m) for a description of fair value measurements and the three-tier hierarchy of inputs.
(2)	See Schedule of Investments for fair values in each in each investment in Underlying Funds. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

10 See Notes to Financial Statements.

Statements of Assets and Liabilities (unaudited)

May 31, 2023

	Multi-Asset Balanced Opportunity Fund			Multi-Asset Income Fund
ASSETS:
Investments in securities, at cost	$	2,090,390		$	1,004,934
Investments in Underlying Funds, at cost		2,046,196,068			948,733,449
Investments in securities, at fair value	$	2,383,477		$	1,139,712
Investments in Underlying Funds, at value		1,915,476,424			878,770,885
Cash		3			3
Deposits with brokers for futures collateral		6,782,400			3,175,200
Foreign cash, at value (cost $312 and $0, respectively)		35			–
Receivables:
Interest and dividends		3,452,102			2,349,135
Investments in Underlying Funds sold		1,268,994			589,403
Variation margin for futures contracts		590,689			273,854
Capital shares sold		499,457			159,296
Prepaid expenses and other assets		75,698			87,025
Total assets		1,930,529,279			886,544,513
LIABILITIES:
Payables:
Investments in Underlying Funds purchased		3,441,517			2,344,265
Capital shares reacquired		2,976,416			1,285,937
Premiums for OTC options purchased		569,031			261,671
Trustees’ fees		375,728			169,161
12b-1 distribution plan		318,487			203,152
Management fee		165,445			76,234
Fund administration		66,179			30,494
Foreign currency overdraft (cost $0 and $259, respectively)		–			395
Distributions payable		73,372			86,419
Accrued expenses		408,687			158,615
Total liabilities		8,394,862			4,616,343
NET ASSETS	$	1,922,134,417		$	881,928,170
COMPOSITION OF NET ASSETS:
Paid-in capital	$	2,248,688,813		$	1,059,294,930
Total distributable earnings (loss)		(326,554,396	)		(177,366,760	)
Net Assets	$	1,922,134,417		$	881,928,170

See Notes to Financial Statements. 11

Statements of Assets and Liabilities (unaudited)(concluded)

May 31, 2023

	Multi-Asset Balanced Opportunity Fund		Multi-Asset Income Fund
Net assets by class:
Class A Shares	$	1,690,693,595	$	673,884,864
Class C Shares	$	85,351,854	$	64,079,999
Class F Shares	$	10,760,462	$	22,896,781
Class F3 Shares	$	41,760	$	533,899
Class I Shares	$	66,276,820	$	102,315,060
Class P Shares	$	443,909	$	–
Class R2 Shares	$	605,993	$	216,577
Class R3 Shares	$	47,312,809	$	14,908,799
Class R4 Shares	$	11,027,195	$	2,655,287
Class R5 Shares	$	128,172	$	38,114
Class R6 Shares	$	9,491,848	$	398,790
Outstanding shares by class (unlimited number of authorized shares of beneficial interest):
Class A Shares		166,833,307		46,785,697
Class C Shares		8,494,425		4,365,261
Class F Shares		1,061,769		1,589,619
Class F3 Shares		4,101		37,202
Class I Shares		6,540,273		7,152,753
Class P Shares		44,079		–
Class R2 Shares		57,996		14,561
Class R3 Shares		4,679,240		1,034,891
Class R4 Shares		1,088,026		184,350
Class R5 Shares		12,617		2,663
Class R6 Shares		933,424		27,791
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):
Class A Shares-Net asset value		$10.13		$14.40
Class A Shares-Maximum offering price (Net asset value plus sales charge of 2.25%)		$10.36		$14.73
Class C Shares-Net asset value		$10.05		$14.68
Class F Shares-Net asset value		$10.13		$14.40
Class F3 Shares-Net asset value		$10.18		$14.35
Class I Shares-Net asset value		$10.13		$14.30
Class P Shares-Net asset value		$10.07		$       –
Class R2 Shares-Net asset value		$10.45		$14.87
Class R3 Shares-Net asset value		$10.11		$14.41
Class R4 Shares-Net asset value		$10.14		$14.40
Class R5 Shares-Net asset value		$10.16		$14.31
Class R6 Shares-Net asset value		$10.17		$14.35

12 See Notes to Financial Statements.

Statements of Operations (unaudited)

For the Six Months Ended May 31, 2023

	Multi-Asset Balanced Opportunity Fund			Multi-Asset Income Fund
Investment income:
Dividends received from Underlying Funds	$	26,058,597		$	16,329,464
Interest and other		12,083			12,288
Total investment income		26,070,680			16,341,752
Expenses:
Management fee		995,493			467,678
12b-1 distribution plan-Class A		2,167,580			871,861
12b-1 distribution plan-Class C		558,348			397,818
12b-1 distribution plan-Class F		9,024			16,408
12b-1 distribution plan-Class P		970			–
12b-1 distribution plan-Class R2		1,784			588
12b-1 distribution plan-Class R3		107,314			37,152
12b-1 distribution plan-Class R4		14,185			3,226
Shareholder servicing		910,067			363,307
Fund administration		398,197			187,071
Registration		98,535			86,877
Reports to shareholders		56,635			27,868
Trustees’ fees		24,942			11,823
Professional		23,952			20,319
Custody		15,677			10,861
Other		19,358			12,273
Gross expenses		5,402,061			2,515,130
Expense reductions (See Note 9)		(26,922	)		(12,712	)
Fees waived and expenses reimbursed (See Note 3)		(15,677	)		(10,861	)
Net expenses		5,359,462			2,491,557
Net investment income		20,711,218			13,850,195
Net realized and unrealized gain (loss):
Capital gain distributions received from Underlying Funds		17,228,073			4,750,158
Net realized gain (loss) on Investment in Underlying Funds		(15,204,164	)		(15,431,344	)
Net realized gain (loss) on investments		(9,850,391	)		(4,851,702	)
Net realized gain (loss) on futures contracts		3,069,337			956,321
Net realized gain (loss) on OTC written options		2,157,400			1,062,600
Net realized gain (loss) on swap contracts		256,231			120,039
Net realized gain (loss) on foreign currency related transactions		27,952			12,722
Net change in unrealized appreciation/depreciation in Underlying Funds		(30,561,402	)		471,679
Net change in unrealized appreciation/depreciation on investments		7,647,423			3,757,070
Net change in unrealized appreciation/depreciation on futures contracts		(7,562,043	)		(2,771,683	)
Net change in unrealized appreciation/depreciation on OTC written options		(1,579,407	)		(777,917	)
Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies		(9,618	)		(5,023	)
Net realized and unrealized gain (loss)		(34,380,609	)		(12,707,080	)
Net Increase (Decrease) in Net Assets Resulting From Operations	$	(13,669,391	)	$	1,143,115

See Notes to Financial Statements. 13

Statements of Changes in Net Assets

			Multi-Asset Balanced Opportunity Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
Operations:
Net investment income		$	20,711,218			$	40,175,203
Capital gain distributions received from Underlying Funds			17,228,073				62,067,168
Net realized gain (loss) on investments in Underlying Funds			(15,204,138	)			(220,957,287	)
Net realized gain (loss) on investments			(9,850,391	)			21,407,889
Net realized gain (loss) on futures contracts, OTC written options, swap contracts and foreign currency related transactions			5,510,894				13,063,073
Net change in unrealized appreciation/depreciation on investments in Underlying Funds			(30,561,402	)			(231,377,339	)
Net change in unrealized appreciation/depreciation on investments			7,647,423				(7,354,336	)
Net change in unrealized appreciation/depreciation on futures contracts, OTC written options and translation of assets and liabilities denominated in foreign currencies			(9,151,068	)			2,219,790
Net increase (decrease) in net assets resulting from operations			(13,669,391	)			(320,755,839	)
Distributions to shareholders:
Class A			(17,534,529	)			(376,950,615	)
Class C			(675,786	)			(35,233,972	)
Class F			(188,336	)			(13,384,274	)
Class F3			(479	)			(9,534	)
Class I			(711,390	)			(7,352,561	)
Class P			(4,072	)			(131,807	)
Class R2			(4,768	)			(109,320	)
Class R3			(388,922	)			(7,935,705	)
Class R4			(115,273	)			(2,366,576	)
Class R5			(1,465	)			(31,169	)
Class R6			(108,067	)			(2,014,555	)
Total distributions to shareholders			(19,733,087	)			(445,520,088	)
Capital share transactions (See Note 14):
Net proceeds from sales of shares			192,895,345				214,390,151
Reinvestment of distributions			19,204,825				435,509,274
Cost of shares reacquired			(345,604,254	)			(515,617,581	)
Net increase (decrease) in net assets resulting from capital share transactions			(133,504,084	)			134,281,844
Net decrease in net assets			(166,906,562	)			(631,994,083	)
NET ASSETS:
Beginning of period		$	2,089,040,979			$	2,721,035,062
End of period		$	1,922,134,417			$	2,089,040,979

14 See Notes to Financial Statements.

Statements of Changes in Net Assets (concluded)

			Multi-Asset Income Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2023 (unaudited)				For the Year Ended November 30, 2022
Operations:
Net investment income		$	13,850,195			$	24,897,129
Capital gain distributions received from Underlying Funds			4,750,158				22,234,766
Net realized gain (loss) on investments in Underlying Funds			(15,431,344	)			(89,250,281	)
Net realized gain (loss) on investments			(4,851,702	)			10,544,335
Net realized gain (loss) on futures contracts, OTC written options, swap contracts and foreign currency related transactions			2,151,682				3,874,921
Net change in unrealized appreciation/depreciation on investments in Underlying Funds			471,679				(112,509,860	)
Net change in unrealized appreciation/depreciation on investments			3,757,070				(3,622,292	)
Net change in unrealized appreciation/depreciation on futures contracts, OTC written options and translation of assets and liabilities denominated in foreign currencies			(3,554,623	)			301,741
Net increase (decrease) in net assets resulting from operations			1,143,115				(143,529,541	)
Distributions to shareholders:
Class A			(10,243,762	)			(44,987,167	)
Class C			(801,309	)			(7,748,205	)
Class F			(478,537	)			(7,965,508	)
Class F3			(8,634	)			(74,975	)
Class I			(1,717,308	)			(3,300,072	)
Class P			–				–
Class R2			(2,462	)			(7,125	)
Class R3			(200,477	)			(995,718	)
Class R4			(38,014	)			(145,589	)
Class R5			(640	)			(2,930	)
Class R6			(6,326	)			(60,472	)
Total distributions to shareholders			(13,497,469	)			(65,287,761	)
Capital share transactions (See Note 14):
Net proceeds from sales of shares			79,042,626				203,614,810
Reinvestment of distributions			12,749,678				60,622,463
Cost of shares reacquired			(197,413,324	)			(341,971,796	)
Net increase (decrease) in net assets resulting from capital share transactions			(105,621,020	)			(77,734,523	)
Net decrease in net assets			(117,975,374	)			(286,551,825	)
NET ASSETS:
Beginning of period		$	999,903,544			$	1,286,455,369
End of period		$	881,928,170			$	999,903,544

See Notes to Financial Statements. 15

Financial Highlights (unaudited)

MULTI-ASSET BALANCED OPPORTUNITY FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(b)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2023(d)	$	10.30	$	0.11	$	(0.18	)	$	(0.07	)	$	(0.10	)	$	–		$	(0.10	)
11/30/2022		14.01		0.19		(1.60	)		(1.41	)		(0.89	)		(1.41	)		(2.30	)
11/30/2021		13.15		0.22		1.42			1.64			(0.51	)		(0.27	)		(0.78	)
11/30/2020		11.60		0.21		1.66			1.87			(0.18	)		(0.14	)		(0.32	)
11/30/2019		11.28		0.24		0.80			1.04			(0.38	)		(0.34	)		(0.72	)
11/30/2018		12.19		0.25		(0.50	)		(0.25	)		(0.42	)		(0.24	)		(0.66	)
Class C
5/31/2023(d)		10.21		0.07		(0.17	)		(0.10	)		(0.06	)		–			(0.06	)
11/30/2022		13.90		0.11		(1.58	)		(1.47	)		(0.81	)		(1.41	)		(2.22	)
11/30/2021		13.06		0.11		1.41			1.52			(0.41	)		(0.27	)		(0.68	)
11/30/2020		11.53		0.12		1.65			1.77			(0.10	)		(0.14	)		(0.24	)
11/30/2019		11.22		0.16		0.79			0.95			(0.30	)		(0.34	)		(0.64	)
11/30/2018		12.12		0.16		(0.49	)		(0.33	)		(0.33	)		(0.24	)		(0.57	)
Class F
5/31/2023(d)		10.30		0.12		(0.18	)		(0.06	)		(0.11	)		–			(0.11	)
11/30/2022		14.01		0.21		(1.61	)		(1.40	)		(0.90	)		(1.41	)		(2.31	)
11/30/2021		13.15		0.24		1.42			1.66			(0.53	)		(0.27	)		(0.80	)
11/30/2020		11.60		0.23		1.66			1.89			(0.20	)		(0.14	)		(0.34	)
11/30/2019		11.28		0.26		0.80			1.06			(0.40	)		(0.34	)		(0.74	)
11/30/2018		12.18		0.27		(0.49	)		(0.22	)		(0.44	)		(0.24	)		(0.68	)
Class F3
5/31/2023(d)		10.35		0.12		(0.17	)		(0.05	)		(0.12	)		–			(0.12	)
11/30/2022		14.05		0.23		(1.60	)		(1.37	)		(0.92	)		(1.41	)		(2.33	)
11/30/2021		13.18		0.17		1.52			1.69			(0.55	)		(0.27	)		(0.82	)
11/30/2020		11.62		0.26		1.65			1.91			(0.21	)		(0.14	)		(0.35	)
11/30/2019		11.29		0.27		0.81			1.08			(0.41	)		(0.34	)		(0.75	)
11/30/2018		12.19		0.28		(0.49	)		(0.21	)		(0.45	)		(0.24	)		(0.69	)
Class I
5/31/2023(d)		10.30		0.12		(0.17	)		(0.05	)		(0.12	)		–			(0.12	)
11/30/2022		14.00		0.22		(1.60	)		(1.38	)		(0.91	)		(1.41	)		(2.32	)
11/30/2021		13.15		0.25		1.41			1.66			(0.54	)		(0.27	)		(0.81	)
11/30/2020		11.60		0.24		1.66			1.90			(0.21	)		(0.14	)		(0.35	)
11/30/2019		11.28		0.28		0.79			1.07			(0.41	)		(0.34	)		(0.75	)
11/30/2018		12.19		0.28		(0.50	)		(0.22	)		(0.45	)		(0.24	)		(0.69	)
Class P
5/31/2023(d)		10.24		0.10		(0.18	)		(0.08	)		(0.09	)		–			(0.09	)
11/30/2022		13.93		0.18		(1.60	)		(1.42	)		(0.86	)		(1.41	)		(2.27	)
11/30/2021		13.08		0.19		1.41			1.60			(0.48	)		(0.27	)		(0.75	)
11/30/2020		11.55		0.19		1.64			1.83			(0.16	)		(0.14	)		(0.30	)
11/30/2019		11.23		0.21		0.81			1.02			(0.36	)		(0.34	)		(0.70	)
11/30/2018		12.14		0.22		(0.49	)		(0.27	)		(0.40	)		(0.24	)		(0.64	)

16 See Notes to Financial Statements.

					Ratios to Average Net Assets:(a)									Supplemental Data:
Net asset value, end of period		Total return(c) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	10.13		(0.75	)(e)		0.51	(f)		0.51	(f)		2.12	(f)	$	1,690,694		8	(e)
	10.30		(12.00	)		0.50			0.51			1.79			1,808,434		104
	14.01		12.89			0.49			0.49			1.56			2,293,947		47
	13.15		17.09			0.52			0.52			1.81			2,087,948		60
	11.60		10.19			0.52			0.52			2.15			1,974,100		25
	11.28		(2.18	)		0.51			0.51			2.12			1,214,155		31
	10.05		(1.06	)(e)		1.26	(f)		1.26	(f)		1.40	(f)		85,352		8	(e)
	10.21		(12.62	)		1.25			1.26			1.02			135,989		104
	13.90		12.01			1.24			1.24			0.78			223,713		47
	13.06		16.17			1.27			1.27			1.03			254,523		60
	11.53		9.35			1.27			1.27			1.41			337,420		25
	11.22		(2.85	)		1.26			1.26			1.35			223,823		31
	10.13		(0.68	)(e)		0.36	(f)		0.36	(f)		2.36	(f)		10,760		8	(e)
	10.30		(11.88	)		0.35			0.36			1.89			27,902		104
	14.01		13.06			0.34			0.34			1.73			84,162		47
	13.15		17.26			0.37			0.37			1.97			70,406		60
	11.60		10.35			0.37			0.37			2.31			73,256		25
	11.28		(1.95	)		0.36			0.36			2.27			46,998		31
	10.18		(0.61	)(e)		0.18	(f)		0.18	(f)		2.44	(f)		42		8	(e)
	10.35		(11.64	)		0.17			0.18			2.15			42		104
	14.05		13.25			0.17			0.17			1.18			58		47
	13.18		17.47			0.18			0.18			2.23			75		60
	11.62		10.56			0.19			0.19			2.40			47		25
	11.29		(1.83	)		0.22			0.22			2.38			10		31
	10.13		(0.62	)(e)		0.26	(f)		0.26	(f)		2.34	(f)		66,277		8	(e)
	10.30		(11.78	)		0.25			0.26			2.07			56,783		104
	14.00		13.26			0.24			0.24			1.81			41,327		47
	13.15		17.29			0.27			0.27			2.08			37,220		60
	11.60		10.45			0.26			0.26			2.47			29,487		25
	11.28		(1.93	)		0.26			0.26			2.38			14,440		31
	10.07		(0.84	)(e)		0.70	(f)		0.70	(f)		1.92	(f)		444		8	(e)
	10.24		(12.17	)		0.70			0.71			1.63			340		104
	13.93		12.72			0.69			0.69			1.37			820		47
	13.08		16.86			0.72			0.72			1.61			725		60
	11.55		9.93			0.72			0.72			1.93			588		25
	11.23		(2.38	)		0.71			0.71			1.85			512		31

See Notes to Financial Statements. 17

Financial Highlights (unaudited)(concluded)

MULTI-ASSET BALANCED OPPORTUNITY FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)(b)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R2
5/31/2023(d)	$	10.62	$	0.09	$	(0.18	)		(0.09	)	$	(0.08	)	$	–		$	(0.08	)
11/30/2022		14.36		0.16		(1.64	)		(1.48	)		(0.85	)		(1.41	)		(2.26	)
11/30/2021		13.46		0.18		1.45			1.63			(0.46	)		(0.27	)		(0.73	)
11/30/2020		11.87		0.17		1.70			1.87			(0.14	)		(0.14	)		(0.28	)
11/30/2019		11.52		0.20		0.83			1.03			(0.34	)		(0.34	)		(0.68	)
11/30/2018		12.43		0.22		(0.51	)		(0.29	)		(0.38	)		(0.24	)		(0.62	)
Class R3
5/31/2023(d)		10.28		0.09		(0.17	)		(0.08	)		(0.09	)		–			(0.09	)
11/30/2022		13.98		0.17		(1.60	)		(1.43	)		(0.86	)		(1.41	)		(2.27	)
11/30/2021		13.12		0.18		1.42			1.60			(0.47	)		(0.27	)		(0.74	)
11/30/2020		11.58		0.18		1.65			1.83			(0.15	)		(0.14	)		(0.29	)
11/30/2019		11.26		0.21		0.80			1.01			(0.35	)		(0.34	)		(0.69	)
11/30/2018		12.16		0.22		(0.49	)		(0.27	)		(0.39	)		(0.24	)		(0.63	)
Class R4
5/31/2023(d)		10.30		0.11		(0.17	)		(0.06	)		(0.10	)		–			(0.10	)
11/30/2022		14.01		0.19		(1.60	)		(1.41	)		(0.89	)		(1.41	)		(2.30	)
11/30/2021		13.15		0.21		1.43			1.64			(0.51	)		(0.27	)		(0.78	)
11/30/2020		11.60		0.21		1.66			1.87			(0.18	)		(0.14	)		(0.32	)
11/30/2019		11.29		0.24		0.79			1.03			(0.38	)		(0.34	)		(0.72	)
11/30/2018		12.19		0.24		(0.48	)		(0.24	)		(0.42	)		(0.24	)		(0.66	)
Class R5
5/31/2023(d)		10.33		0.12		(0.17	)		(0.05	)		(0.12	)		–			(0.12	)
11/30/2022		14.03		0.22		(1.60	)		(1.38	)		(0.91	)		(1.41	)		(2.32	)
11/30/2021		13.17		0.25		1.42			1.67			(0.54	)		(0.27	)		(0.81	)
11/30/2020		11.62		0.20		1.70			1.90			(0.21	)		(0.14	)		(0.35	)
11/30/2019		11.30		0.27		0.80			1.07			(0.41	)		(0.34	)		(0.75	)
11/30/2018		12.20		0.29		(0.50	)		(0.21	)		(0.45	)		(0.24	)		(0.69	)
Class R6
5/31/2023(d)		10.33		0.12		(0.16	)		(0.04	)		(0.12	)		–			(0.12	)
11/30/2022		14.04		0.23		(1.61	)		(1.38	)		(0.92	)		(1.41	)		(2.33	)
11/30/2021		13.17		0.26		1.43			1.69			(0.55	)		(0.27	)		(0.82	)
11/30/2020		11.61		0.24		1.67			1.91			(0.21	)		(0.14	)		(0.35	)
11/30/2019		11.29		0.30		0.77			1.07			(0.41	)		(0.34	)		(0.75	)
11/30/2018		12.19		0.24		(0.45	)		(0.21	)		(0.45	)		(0.24	)		(0.69	)

(a)	Does not include expenses of the Underlying Funds in which the Fund invests.
(b)	Calculated using average shares outstanding during the period.
(c)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(d)	Unaudited.
(e)	Not annualized.
(f)	Annualized.

18 See Notes to Financial Statements.

					Ratios to Average Net Assets:(a)									Supplemental Data:
Net asset value, end of period		Total return(c) (%)			Total expenses after waivers and/or reimburse- ments (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
$	10.45		(0.90	)(e)		0.86	(f)		0.86	(f)		1.76	(f)	$	606		8	(e)
	10.62		(12.29	)		0.85			0.86			1.44			593		104
	14.36		12.55			0.84			0.84			1.23			686		47
	13.46		16.58			0.87			0.87			1.44			594		60
	11.87		9.85			0.87			0.87			1.77			837		25
	11.52		(2.49	)		0.86			0.86			1.83			360		31
	10.11		(0.86	)(e)		0.75	(f)		0.75	(f)		1.83	(f)		47,313		8	(e)
	10.28		(12.17	)		0.75			0.76			1.53			37,063		104
	13.98		12.62			0.74			0.74			1.30			49,825		47
	13.12		16.74			0.77			0.77			1.56			48,308		60
	11.58		9.94			0.76			0.76			1.91			52,554		25
	11.26		(2.34	)		0.76			0.76			1.84			27,258		31
	10.14		(0.65	)(e)		0.51	(f)		0.51	(f)		2.12	(f)		11,027		8	(e)
	10.30		(12.00	)		0.50			0.51			1.79			11,617		104
	14.01		12.88			0.49			0.49			1.54			14,343		47
	13.15		17.09			0.52			0.52			1.79			13,893		60
	11.60		10.19			0.52			0.52			2.12			12,167		25
	11.29		(2.17	)		0.51			0.51			2.07			4,971		31
	10.16		(0.62	)(e)		0.26	(f)		0.26	(f)		2.39	(f)		128		8	(e)
	10.33		(11.69	)		0.25			0.26			2.08			158		104
	14.03		13.15			0.24			0.24			1.78			186		47
	13.17		17.34			0.28			0.28			1.79			178		60
	11.62		10.44			0.27			0.27			2.38			204		25
	11.30		(1.85	)		0.26			0.26			2.45			121		31
	10.17		(0.51	)(e)		0.18	(f)		0.18	(f)		2.44	(f)		9,492		8	(e)
	10.33		(11.73	)		0.17			0.18			2.12			10,119		104
	14.04		13.26			0.17			0.17			1.88			11,969		47
	13.17		17.48			0.19			0.19			2.13			10,480		60
	11.61		10.47			0.19			0.19			2.61			15,985		25
	11.29		(1.83	)		0.18			0.18			2.01			5,451		31

See Notes to Financial Statements. 19

Financial Highlights (unaudited)

MULTI-ASSET INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net investment income (loss)(b)		Net realized and unrealized gain (loss)			Total from investment operations			Net investment income			Net asset value, end of period
Class A
5/31/2023(d)	$	14.60	$	0.22	$	(0.21	)	$	0.01		$	(0.21	)	$	14.40
11/30/2022		17.39		0.35		(2.24	)		(1.89	)		(0.90	)		14.60
11/30/2021		16.47		0.32		1.21			1.53			(0.61	)		17.39
11/30/2020		15.02		0.33		1.43			1.76			(0.31	)		16.47
11/30/2019		14.34		0.40		0.78			1.18			(0.50	)		15.02
11/30/2018		15.08		0.36		(0.62	)		(0.26	)		(0.48	)		14.34
Class C
5/31/2023(d)		14.87		0.17		(0.21	)		(0.04	)		(0.15	)		14.68
11/30/2022		17.68		0.24		(2.27	)		(2.03	)		(0.78	)		14.87
11/30/2021		16.74		0.18		1.23			1.41			(0.47	)		17.68
11/30/2020		15.25		0.22		1.47			1.69			(0.20	)		16.74
11/30/2019		14.55		0.30		0.79			1.09			(0.39	)		15.25
11/30/2018		15.29		0.26		(0.63	)		(0.37	)		(0.37	)		14.55
Class F
5/31/2023(d)		14.60		0.23		(0.21	)		0.02			(0.22	)		14.40
11/30/2022		17.39		0.37		(2.24	)		(1.87	)		(0.92	)		14.60
11/30/2021		16.47		0.34		1.22			1.56			(0.64	)		17.39
11/30/2020		15.02		0.35		1.43			1.78			(0.33	)		16.47
11/30/2019		14.34		0.42		0.78			1.20			(0.52	)		15.02
11/30/2018		15.08		0.38		(0.62	)		(0.24	)		(0.50	)		14.34
Class F3
5/31/2023(d)		14.54		0.24		(0.20	)		0.04			(0.23	)		14.35
11/30/2022		17.32		0.41		(2.25	)		(1.84	)		(0.94	)		14.54
11/30/2021		16.40		0.37		1.21			1.58			(0.66	)		17.32
11/30/2020		14.95		0.39		1.40			1.79			(0.34	)		16.40
11/30/2019		14.27		0.44		0.78			1.22			(0.54	)		14.95
11/30/2018		15.00		0.40		(0.61	)		(0.21	)		(0.52	)		14.27
Class I
5/31/2023(d)		14.50		0.23		(0.20	)		0.03			(0.23	)		14.30
11/30/2022		17.28		0.39		(2.23	)		(1.84	)		(0.94	)		14.50
11/30/2021		16.37		0.36		1.20			1.56			(0.65	)		17.28
11/30/2020		14.93		0.36		1.42			1.78			(0.34	)		16.37
11/30/2019		14.26		0.44		0.77			1.21			(0.54	)		14.93
11/30/2018		14.99		0.40		(0.61	)		(0.21	)		(0.52	)		14.26
Class R2
5/31/2023(d)		15.06		0.20		(0.20	)		–	(g)		(0.19	)		14.87
11/30/2022		17.92		0.31		(2.32	)		(2.01	)		(0.85	)		15.06
11/30/2021		16.95		0.26		1.25			1.51			(0.54	)		17.92
11/30/2020		15.44		0.29		1.47			1.76			(0.25	)		16.95
11/30/2019		14.73		0.35		0.81			1.16			(0.45	)		15.44
11/30/2018		15.47		0.32		(0.63	)		(0.31	)		(0.43	)		14.73

20 See Notes to Financial Statements.

			Ratios to Average Net Assets:(a)									Supplemental Data:
Total return(c) (%)			Total expenses after waivers and/or reimbursements (%)			Total expenses  (%)			Net investment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	0.02	(e)		0.50	(f)		0.50	(f)		3.00	(f)	$	673,885		8	(e)
	(11.23	)		0.49			0.50			2.30			734,968		83
	9.43			0.48			0.49			1.81			855,806		40
	12.33			0.50			0.50			2.19			745,462		75
	8.50			0.50			0.50			2.74			678,178		27
	(1.79	)		0.50			0.50			2.43			716,679		41
	(0.32	)(e)		1.25	(f)		1.25	(f)		2.26	(f)		64,080		8	(e)
	(11.92	)		1.25			1.25			1.50			92,856		83
	8.66			1.23			1.24			1.03			188,842		40
	11.46			1.25			1.25			1.44			240,404		75
	7.70			1.25			1.25			2.00			340,786		27
	(2.51	)		1.25			1.25			1.69			410,332		41
	0.09	(e)		0.35	(f)		0.35	(f)		3.20	(f)		22,897		8	(e)
	(11.10	)		0.34			0.35			2.35			54,006		83
	9.59			0.33			0.34			1.95			176,727		40
	12.49			0.35			0.35			2.35			165,707		75
	8.66			0.35			0.35			2.91			200,060		27
	(1.64	)		0.35			0.35			2.57			227,804		41
	0.22	(e)		0.19	(f)		0.19	(f)		3.30	(f)		534		8	(e)
	(10.98	)		0.18			0.18			2.59			541		83
	9.76			0.17			0.18			2.11			1,735		40
	12.68			0.18			0.18			2.61			2,013		75
	8.83			0.19			0.19			3.01			3,527		27
	(1.47	)		0.18			0.18			2.70			4,077		41
	0.15	(e)		0.25	(f)		0.25	(f)		3.23	(f)		102,315		8	(e)
	(11.02	)		0.24			0.25			2.65			98,929		83
	9.70			0.23			0.24			2.05			37,860		40
	12.61			0.25			0.25			2.45			35,613		75
	8.75			0.25			0.25			3.03			43,319		27
	(1.48	)		0.25			0.25			2.70			54,171		41
	(0.15	)(e)		0.85	(f)		0.85	(f)		2.62	(f)		217		8	(e)
	(11.54	)		0.84			0.85			2.00			174		83
	9.06			0.83			0.83			1.46			140		40
	11.97			0.85			0.85			1.87			124		75
	8.10			0.85			0.85			2.36			138		27
	(2.09	)		0.84			0.84			2.08			122		41

See Notes to Financial Statements. 21

Financial Highlights (unaudited)(concluded)

MULTI-ASSET INCOME FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net  investment income (loss)(b)		Net realized and unrealized gain (loss)			Total from investment operations			Net investment income			Net asset value, end of period
Class R3
5/31/2023(d)	$	14.60	$	0.20	$	(0.20	)	$	–	(g)	$	(0.19	)	$	14.41
11/30/2022		17.39		0.31		(2.24	)		(1.93	)		(0.86	)		14.60
11/30/2021		16.47		0.27		1.21			1.48			(0.56	)		17.39
11/30/2020		15.02		0.29		1.43			1.72			(0.27	)		16.47
11/30/2019		14.34		0.35		0.80			1.15			(0.47	)		15.02
11/30/2018		15.08		0.33		(0.63	)		(0.30	)		(0.44	)		14.34
Class R4
5/31/2023(d)		14.60		0.22		(0.21	)		0.01			(0.21	)		14.40
11/30/2022		17.39		0.35		(2.24	)		(1.89	)		(0.90	)		14.60
11/30/2021		16.47		0.31		1.22			1.53			(0.61	)		17.39
11/30/2020		15.02		0.33		1.43			1.76			(0.31	)		16.47
11/30/2019		14.34		0.38		0.80			1.18			(0.50	)		15.02
11/30/2018		15.08		0.34		(0.60	)		(0.26	)		(0.48	)		14.34
Class R5
5/31/2023(d)		14.51		0.24		(0.21	)		0.03			(0.23	)		14.31
11/30/2022		17.28		0.39		(2.22	)		(1.83	)		(0.94	)		14.51
11/30/2021		16.38		0.36		1.19			1.55			(0.65	)		17.28
11/30/2020		14.93		0.36		1.43			1.79			(0.34	)		16.38
11/30/2019		14.26		0.42		0.79			1.21			(0.54	)		14.93
11/30/2018		14.99		0.39		(0.60	)		(0.21	)		(0.52	)		14.26
Class R6
5/31/2023(d)		14.54		0.24		(0.20	)		0.04			(0.23	)		14.35
11/30/2022		17.32		0.40		(2.24	)		(1.84	)		(0.94	)		14.54
11/30/2021		16.40		0.37		1.21			1.58			(0.66	)		17.32
11/30/2020		14.95		0.38		1.41			1.79			(0.34	)		16.40
11/30/2019		14.27		0.44		0.78			1.22			(0.54	)		14.95
11/30/2018		15.00		0.38		(0.59	)		(0.21	)		(0.52	)		14.27

(a)	Does not include expenses of the Underlying Funds in which the Fund invests.
(b)	Calculated using average shares outstanding during the period.
(c)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
(d)	Unaudited.
(e)	Not annualized.
(f)	Annualized.
(g)	Amount is less than $0.01.

22 See Notes to Financial Statements.

			Ratios to Average Net Assets:(a)									Supplemental Data:
Total return(c) (%)			Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net investment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)
	(0.03	)(e)		0.75	(f)		0.75	(f)		2.74	(f)	$	14,909		8	(e)
	(11.46	)		0.74			0.75			2.02			14,878		83
	9.15			0.73			0.74			1.56			20,699		40
	12.04			0.75			0.75			1.94			19,031		75
	8.24			0.75			0.75			2.41			21,508		27
	(2.03	)		0.74			0.74			2.20			18,400		41
	0.02	(e)		0.50	(f)		0.50	(f)		2.98	(f)		2,655		8	(e)
	(11.23	)		0.49			0.50			2.29			2,489		83
	9.43			0.48			0.49			1.80			3,435		40
	12.33			0.50			0.50			2.18			2,988		75
	8.50			0.50			0.50			2.62			2,421		27
	(1.77	)		0.49			0.49			2.31			1,756		41
	0.15	(e)		0.25	(f)		0.25	(f)		3.29	(f)		38		8	(e)
	(11.02	)		0.24			0.24			2.56			47		83
	9.76			0.23			0.23			2.06			53		40
	12.61			0.24			0.24			2.42			47		75
	8.75			0.24			0.24			2.89			36		27
	(1.55	)		0.24			0.24			2.64			28		41
	0.22	(e)		0.19	(f)		0.19	(f)		3.27	(f)		399		8	(e)
	(10.98	)		0.18			0.19			2.62			1,015		83
	9.76			0.17			0.18			2.11			1,159		40
	12.68			0.18			0.18			2.55			1,030		75
	8.83			0.19			0.19			3.02			2,873		27
	(1.47	)		0.18			0.18			2.58			2,807		41

See Notes to Financial Statements. 23

Notes to Financial Statements

1. ORGANIZATION  

Lord Abbett Investment Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company and was organized as a Delaware statutory trust on August 16, 1993. The Trust consists of fourteen funds. This report covers the following two funds (separately, a “Fund” and collectively, the “Funds”) and their respective active share classes:

Funds	Classes
Lord Abbett Multi-Asset Balanced Opportunity Fund (“Multi-Asset Balanced Opportunity Fund”)	A, C, F, F3, I, P, R2, R3, R4, R5 and R6
Lord Abbett Multi-Asset Income Fund (“Multi-Asset Income Fund”)	A, C, F, F3, I, R2, R3, R4, R5 and R6

The Funds’ Class P shares are closed to substantially all new investors, with certain exceptions as set forth in the Funds’ prospectus.

Multi-Asset Balanced Opportunity Fund’s investment objective is to seek current income and capital growth. Multi-Asset Income Fund’s investment objective is to seek a high level of current income. The Funds invest principally in other mutual funds (“Underlying Funds”) managed by Lord, Abbett & Co. LLC (“Lord Abbett”).

Each class of shares has different expenses and dividends. A front-end sales charge is normally added to the net asset value (“NAV”) for Class A shares. There is no front-end sales charge in the case of Class C, F, F3, I, P, R2, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge (“CDSC”) in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); Class C shares redeemed before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Fund or financial intermediary through which a shareholder purchased Class C shares has records verifying that the C shares have been held at least eight years.

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. These Funds are considered investment companies under U.S. GAAP and follow the accounting and reporting guidance applicable to investment companies.

2. SIGNIFICANT ACCOUNTING POLICIES  

(a) Investment Valuation–Under procedures approved by the Funds’ Board of Trustees (the “Board”), the Board has designated the determination of fair value of the Funds’ portfolio investments to Lord Abbett as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a Pricing Committee that performs these responsibilities on behalf of Lord Abbett, administers

24

Notes to Financial Statements (continued)

the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Investments in the Underlying Funds are valued at their NAV each business day at the close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Options and options on swaps (“swaptions”) are valued daily using independent pricing services or quotations from broker/dealers to the extent available. Swaps are valued daily using independent pricing services or quotations from broker/dealers to the extent available.

Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.

Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.

(b)	Security Transactions–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Realized and unrealized gains (losses) are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.
(c)	Investment Income–Dividend income and capital gain distributions are recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other income in the Statements of Operations. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.
(d)	Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.
	Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s filed U.S. federal tax returns remains open for the fiscal years ended November 30, 2019 through November 30, 2022. The statutes of limitations on the Trust’s state and local tax returns may remain open for an additional year depending upon each Fund’s jurisdiction.

25

Notes to Financial Statements (continued)

(e)	Expenses–Expenses incurred by the Trust that do not specifically relate to an individual fund are generally allocated to the Funds within the Trust on a pro rata basis by relative net assets. Expenses, excluding class-specific expenses, are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. In addition, Class F3 and R6 bear only their class-specific shareholder servicing expenses. Class A, C, F, P, R2, R3 and R4 shares bear their class-specific share of all expenses and fees relating to the Funds’ 12b-1 Distribution Plan.
(f)	Foreign Transactions–The books and records of each Fund are maintained in U.S. dollars and transactions denominated in foreign currencies are recorded in each Fund’s records at the rate prevailing when earned or recorded. Asset and liability accounts that are denominated in foreign currencies are adjusted daily to reflect current exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies in each Fund’s Statement of Operations. The resultant exchange gains and losses upon settlement of such transactions, if applicable, are included in Net realized gain (loss) on foreign currency related transactions in each Fund’s Statement of Operations. The Funds do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in market prices of the securities.
	Each Fund uses foreign currency exchange contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.
(g)	Forward Foreign Currency Exchange Contracts–Each Fund may enter into forward foreign currency exchange contracts in order to reduce exposure to changes in foreign currency exchange rates on foreign portfolio holdings, or gain or reduce exposure to foreign currency solely for investment purposes. A forward foreign currency exchange contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated rate. The contracts are valued daily at forward exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on forward foreign currency exchange contracts in each Fund’s Statement of Operations. The gain (loss) arising from the difference between the U.S. dollar cost of the original contract and the value of the forward foreign currency in U.S. dollars upon closing of such contracts is included, if applicable, in Net realized gain (loss) on forward foreign currency exchange contracts in each Fund’s Statement of Operations.
(h)	Futures Contracts–Each Fund may purchase and sell futures contracts to enhance returns, to attempt to economically hedge some of its investment risk, or as a substitute position in lieu of holding the underlying asset on which the instrument is based. At the time of entering into a futures transaction, an investor is required to deposit and maintain a specified amount of cash or eligible securities called “initial margin.” Subsequent payments made or received by the Fund called “variation margin” are made on a daily basis as the market price of the futures contract fluctuates. Each Fund will record an unrealized gain (loss) based on the amount of variation margin. When a contract is closed, a realized gain (loss) is recorded equal to the difference between the opening and closing value of the contract.
(i)	Credit Default Swap Contracts–Each Fund may enter into credit default swap contracts in order to hedge credit risk or for speculation purposes. As a seller of a credit default swap contract (“seller of protection”), a Fund is required to pay the notional amount or other agreed-upon value of a referenced debt obligation to the counterparty in the event of a

26

Notes to Financial Statements (continued)

default by or other credit event involving the referenced issuer, obligation or index. In return, a Fund receives from the counterparty a periodic stream of payments over the term of the contract.

As a purchaser of a credit default swap contract (“buyer of protection”), a Fund would receive the notional amount or other agreed upon value of a referenced debt obligation from the counterparty in the event of default by or other credit event involving the referenced issuer, obligation or index. In return, a Fund makes periodic payments to the counterparty over the term of the contracts, provided no event of default has occurred.

These credit default swap contracts may have as a reference obligation corporate or sovereign issuers or credit indexes. These credit indexes are comprised of a basket of securities representing a particular sector of the market.

Credit default swap contracts are fair valued based upon quotations from counterparties, brokers or market-makers and the change in value, if any, is recorded as an unrealized appreciation or depreciation. For a credit default swap contract sold by a Fund, payment of the agreed-upon amount made by a Fund in the event of default of the referenced debt obligation is recorded as the cost of the referenced debt obligation purchased/received. For a credit default swap contract purchased by a Fund, the agreed-upon amount received by a Fund in the event of default of the referenced debt obligation is recorded as proceeds from sale/delivery of the referenced debt obligation and the resulting gain or loss realized on the referenced debt obligation is recorded as such by a Fund.

Any upfront payments made or received upon entering a credit default swap contract would be amortized or accreted over the life of the swap contract and recorded as realized gains or losses. Collateral, in the form of cash or securities, may be required to be held in segregated accounts with the custodian bank or broker in accordance with the swap contract agreement. The value and credit rating of each credit default swap contract where a Fund is the seller of protection, are both measures of the current payment/performance risk of the swap contract. As the value of the swap contract changes as a positive or negative percentage of the total notional amount, the payment/performance risk may decrease or increase, respectively. The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap contract agreement would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap contract agreements entered into by a Fund for the same referenced entity or entities.

Entering into credit default swap contracts involves credit and market risk. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates, and that Lord Abbett does not correctly predict the creditworthiness of the issuers of the reference obligation on which the credit default swap contract is based. For the centrally cleared credit default swap contracts, there was minimal counterparty risk to the Funds, since such credit default swap contracts entered into were traded through a central clearinghouse, which guarantees against default.

27

Notes to Financial Statements (continued)

(j)	Options–Each Fund may purchase and write exchange- listed and over-the-counter put or call options on securities, stock indices, currencies and other financial instruments for hedging purposes, to enhance portfolio returns and reduce overall volatility.
	When a Fund writes (sells) an option, an amount equal to the premium received by each Fund is recorded as a liability in the Statements of Assets and Liabilities. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, each fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by each Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. Each Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.
	Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that each Fund pays a premium whether or not the option is exercised. Additionally, each Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract. Realized and Change in Unrealized gains and losses on purchased options are included in realized and change in unrealized gains and losses on investments in each Fund’s Statement of Operations.
(k)	Total Return Swap Contracts–Each Fund may enter into total return swap contract agreements to obtain exposure to a security or market without owning such security or investing directly in that market. Each Fund may agree to make payments that are the equivalent of interest in exchange for the right to receive payments equivalent to any appreciation in the value of an underlying security, index or other asset, as well as receive payments equivalent to any distributions made on that asset, over the term of the swap contract. If the value of the asset underlying a total return swap contract declines over the term of the swap contract, each Fund also may be required to pay an amount equal to that decline in value to their counterparty.
(l)	Repurchase Agreements–Each Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. Each Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, a Fund may incur a loss upon disposition of the securities.

28

Notes to Financial Statements (continued)

(m) Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below:

●	Level 1 –	unadjusted quoted prices in active markets for identical investments;
●	Level 2 –	other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
●	Level 3 –	significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

A summary of inputs used in valuing each Fund’s investments and other financial instruments as of May 31, 2023 and, if applicable, Level 3 rollforwards for the six months then ended is included in each Fund’s Schedule of Investments.

Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

3. MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES  

Management Fee

The Trust has a management agreement with Lord Abbett, pursuant to which Lord Abbett provides each Fund with investment management services and executive and other personnel, provides office space and pays for ordinary and necessary office and clerical expenses relating to research and statistical work and supervision of each Fund’s investment portfolio. The management fee is accrued daily and payable monthly.

The management fee is based on each Fund’s average daily net assets at an annual rate of .10%.

For the six months ended May 31, 2023, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund’s average daily net assets:

Net Effective Management Fee
Multi-Asset Balanced Opportunity Fund	.10%
Multi-Asset Income Fund	.10%

29

Notes to Financial Statements (continued)

In addition, Lord Abbett provides certain administrative services to each Fund pursuant to an Administrative Services Agreement in return for a fee at an annual rate of .04% of each Fund’s average daily net assets. The fund administration fee is accrued daily and payable monthly. Lord Abbett voluntarily waived the following administration fees during the six months ended May 31, 2023:

Fund	Fund Administration Fee
Multi-Asset Balanced Opportunity Fund		$15,677
Multi-Asset Income Fund		10,861

12b-1 Distribution Plan

Each Fund has adopted a distribution plan with respect to Class A, C, F, P, R2, R3 and R4 shares pursuant to Rule 12b-1 under the Act, which provides for the payment of ongoing distribution and service fees to Lord Abbett Distributor LLC (the “Distributor”), an affiliate of Lord Abbett. The distribution and service fees are accrued daily and payable monthly. The following annual rates have been authorized by the Board pursuant to the plan:

Fees*	Class A	Class C	Class F(1)	Class P	Class R2	Class R3	Class R4
Service	0.25%	0.25%	–	0.25%	0.25%	0.25%	0.25%
Distribution	–	0.75%	0.10%	0.20%	0.35%	0.25%	–

*	The Funds may designate a portion of the aggregate fees attributable to service activities for purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitations.
(1)	The Class F share Rule 12b-1 fee may be designated as a service fee in limited circumstances as described in the Funds’ prospectus.

Class F3, Class I, Class R5 and Class R6 shares do not have a distribution plan.

Commissions

Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, for the six months ended May 31, 2023:

	Distributor Commissions	Dealers’ Concessions
Multi-Asset Balanced Opportunity Fund	$46,285	$323,059
Multi-Asset Income Fund	11,870	88,700

Distributor received the following amount of CDSCs for the six months ended May 31, 2023:

	Class A	Class C
Multi-Asset Balanced Opportunity Fund	$7,964	$2,255
Multi-Asset Income Fund	6,430	940

One Trustee and certain of the Trust’s officers have an interest in Lord Abbett.

4. DISTRIBUTIONS AND CAPITAL LOSS CARRYFORWARDS  

Dividends from net investment income, if any, are declared and paid monthly for Multi-Asset Balanced Opportunity Fund and Multi-Asset Income Fund. Taxable net realized gains from investment transactions, reduced by allowable capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amounts of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These book/tax differences are either considered temporary or

30

Notes to Financial Statements (continued)

permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profits for tax purposes are reported as a tax return of capital.

The tax character of distributions paid during the six months ended May 31, 2023 and fiscal year ended November 30, 2022 was as follows:

Multi-Asset Balanced Opportunity Fund
	Six Months Ended 5/31/23 (unaudited)			Year Ended 11/30/22
Distributions paid from:
Ordinary income		$	19,733,087	$	173,818,814
Net long-term capital gains			–		271,701,274
Total distributions paid		$	19,733,087	$	445,520,088

Multi-Asset Income Fund
	Six Months Ended 5/31/23 (unaudited)		Year Ended 11/30/22
Distributions paid from:
Ordinary income		$13,497,469	$65,287,761
Net long-term capital gains		–	–
Total distributions paid		$13,497,469	$65,287,761

As of May 31, 2023, the following funds had capital losses, which will carry forward indefinitely:

	Indefinite
Multi-Asset Balanced Opportunity Fund	$146,985,239
Multi-Asset Income Fund	74,482,310

As of May 31, 2023, the aggregate unrealized security gains and losses on investments and other financial instruments, if any, based on cost for U.S. federal income tax purposes were as follows:

	Multi-Asset Balanced Opportunity Fund			Multi-Asset Income Fund
Tax cost	$	2,088,639,011		$	966,483,136
Gross unrealized gain		7,373,638			1,070,658
Gross unrealized loss		(182,378,839	)		(89,632,475	)
Net unrealized security gain/(loss)	$	(175,005,201	)	$	(88,561,817	)

The difference between book-basis and tax-basis unrealized gains (losses) is attributable to the tax treatment of certain distributions, other financial instruments and wash sales.

5. PORTFOLIO SECURITIES TRANSACTIONS  

Purchases and sales of investment securities (excluding short-term investments) for the six months ended May 31, 2023 were as follows:

	Purchases	Sales
Multi-Asset Balanced Opportunity Fund	$154,415,634	$285,310,231
Multi-Asset Income Fund	71,970,502	178,402,504

There were no purchases or sales of U.S. Government securities for the six months ended May 31, 2023.

31

Notes to Financial Statements (continued)

6. DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  

The Funds may enter into forward foreign currency exchange contracts (as described in Note 2(g)). A forward foreign currency exchange contract reduces each Fund’s exposure to changes in the value of the currency it will deliver (or settle in cash) and increases its exposure to changes in the value of the currency it will receive (or settle in cash) for the duration of the contract. Each Fund’s use of forward foreign currency exchange contracts involves the risk that Lord Abbett will not accurately predict currency movements, and each Fund’s returns could be reduced as a result. Forward foreign currency exchange contracts are subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time. Each Fund’s risk of loss from counterparty credit risk is the unrealized appreciation on forward foreign currency exchange contracts.

The Funds entered into domestic index futures contracts for the six months ended May 31, 2023 (as described in Note 2(h)) to manage cash and economically hedge against changes in interest rates. The Funds bear the risk of interest rates moving unexpectedly, in which case the Funds may not achieve the anticipated benefits of the futures contracts and realize a loss. There is minimal counterparty credit risk to the Funds since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees futures against default.

The Funds entered into options on indexes for the six months ended May 31, 2023 (as described in Note 2(j)) to obtain exposure to an issuer (the “Reference Entity”). The Funds’ use of swaptions and options involves the risk that Lord Abbett will not accurately predict expectations of market value of the Reference Entity, and the Funds’ returns could be reduced as a result. The Funds’ risk of loss from counterparty credit risk is the notional value of the contract.

The Funds entered into credit default swap contracts for the six months ended May 31, 2023 (as described in Note 2(i)) for investment purposes, to economically hedge credit risk or for speculative purposes. Credit default swap contracts involve the exchange of a fixed rate premium for protection against the loss in value of an underlying security in the event of a defined credit event, such as payment default or bankruptcy. Under a credit default swap contract one party acts as a guarantor by receiving the fixed periodic payment in exchange for the commitment to purchase the underlying security at par if the defined credit event occurs. Upon the occurrence of a defined credit event, the difference between the value of the reference obligation and the swap contract’s notional amount is recorded as realized gain or loss on swap transactions in the Statements of Operations. Each Fund’s maximum risk of loss from counterparty risk, either as the protection seller or as the protection buyer, is the fair value of the contract. For the centrally cleared credit default swaps, there is minimal counterparty credit risk to the Funds since these credit default swaps are traded through a central clearinghouse. As a counterparty to all centrally cleared credit default swaps, the clearinghouse guarantees credit default swaps against default.

32

Notes to Financial Statements (continued)

As of May 31, 2023, the Funds had the following derivatives at fair value, grouped into risk categories that illustrate the Funds use of derivative instruments:

	Multi-Asset Balanced Opportunity Fund
Asset Derivatives		Foreign Currency Contracts		Equity Contracts
Purchased Options(1)			$862,118
Liability Derivatives
Futures Contracts(2)					$5,088,209
	Multi-Asset Income Fund
Asset Derivatives			Foreign Currency Contracts		Equity Contracts
Purchased Options(1)			$396,449
Liability Derivatives
Futures Contracts(2)					$2,385,727

(1)	Statements of Assets and Liabilities location: included in Investments in securities.
(2)	Statements of Assets and Liabilities location: Includes cumulative unrealized appreciation/depreciation on futures contracts as reported in the Schedule of Investments. Only current day’s variation margin reported is within the Statements of Assets and Liabilities.

Transactions in derivative instruments for the six months ended May 31, 2023, were as follows:

	Multi-Asset Balanced Opportunity Fund
	Equity Contracts			Foreign Currency Contracts		Credit Contracts
Net Realized Gain (Loss)
Credit Default Swaps Contracts(1)		–			–	$	256,231
Futures Contracts(2)	$	3,069,337			–		–
OTC Purchased Options(3)	$	(9,850,391	)		–		–
OTC Written Options(4)	$	2,157,400			–		–
Net Change in Unrealized Appreciation/Depreciation
Futures Contracts(5)	$	(7,562,043	)		–		–
OTC Purchased Options(6)	$	7,354,336		$	293,087		–
OTC Written Options(7)	$	(1,579,407	)		–		–
Average Number of Contracts/Notional Amounts*
Credit Default Swap Contracts(8)		–			–	$	2,836,143
Futures Contracts(9)		778			–		–
OTC Purchased Options(8)	$	48,085		$	11,505,948		–
OTC Written Options(8)	$	33,021			–		–

33

Notes to Financial Statements (continued)

	Multi-Asset Income Fund
	Equity Contracts			Foreign Currency Contracts		Credit Contracts
Net Realized Gain (Loss)
Credit Default Swaps Contracts(1)		–			–	$	120,039
Futures Contracts(2)	$	956,321			–		–
OTC Purchase Options(3)	$	(4,851,702	)		–		–
OTC Written Options(4)	$	1,062,600			–		–
Net Change in Unrealized Appreciation/Depreciation
Futures Contracts(5)	$	(2,771,683	)		–		–
OTC Purchased Options(6)	$	3,622,292		$	134,778		–
OTC Written Options(7)	$	(777,917	)		–		–
Average Number of Contracts/Notional Amounts*
Credit Default Swap Contracts(8)		–			–	$	1,346,714
Futures Contracts(9)		378			–		–
OTC Purchased Options(8)	$	23,684		$	5,291,056		–
OTC Written Options(8)	$	16,264			–		–

*	Calculated based on the number of contracts or notional amounts for the six months ended May 31, 2023.
(1)	Statements of Operations location: Net realized gain(loss) on swap contracts.
(2)	Statements of Operations location: Net realized gain(loss) on futures contracts.
(3)	Statements of Operations location: Net realized gain(loss) on investments includes options purchased.
(4)	Statements of Operations location: Net realized gain(loss) on OTC written options.
(5)	Statements of Operations location: Net change in unrealized appreciation/depreciation on futures contracts.
(6)	Statements of Operations location: Net change in unrealized appreciation/depreciation on investments includes options purchased.
(7)	Statements of Operations location: Net change in unrealized appreciation/depreciation on OTC written options.
(8)	Amount represents notional amounts in U.S. dollars.
(9)	Amount represents number of contracts.

7. DISCLOSURES ABOUT OFFSETTING ASSETS AND LIABILITIES

The Financial Accounting Standards Board requires disclosures intended to help better assess the effect or potential effect of offsetting arrangements on a fund’s financial position. The following tables illustrate gross and net information about recognized assets and liabilities eligible for offset in the Statements of Assets and Liabilities; and disclose such amounts subject to an enforceable master netting agreement or similar agreement, by the counterparty. A master netting agreement is an agreement between a fund and the counterparty which provides for the net settlement of amounts owed under all contracts traded under that agreement, as well as cash collateral, through a single payment by one party to the other in the event of default on or termination of any one contract. The Funds’ accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the master netting agreement does not result in an offset of reported amounts of financial assets and liabilities in the Statements of Assets and Liabilities across transactions between the Funds and the applicable counterparty:

Multi-Asset Balanced Opportunity Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities		Net Amounts of Assets Presented in the Statement of Assets and Liabilities
OTC Options Purchased	$	862,118	$	–	$	862,118
Repurchase Agreements	$	1,521,359	$	–	$	1,521,359
Total	$	2,383,477	$	–	$	2,383,477

34

Notes to Financial Statements (continued)

	Net Amount
	of Assets		Amounts Not Offset in the
	Presented in		Statement of Assets and Liabilities
	the Statement				Cash		Securities
	of Assets and		Financial		Collateral		Collateral			Net
Counterparty	Liabilities		Instruments		Received(a)		Received(a)			Amount(b)
Bank of America	$	545,549	$	–	$	–	$	–		$	545,549
Goldman Sachs	$	316,569	$	–	$	–	$	–		$	316,569
Fixed Income Clearing Corp.	$	1,521,359	$	–	$	–	$	(1,521,359	)	$	–
Total	$	2,383,477	$	–	$	–	$	(1,521,359	)	$	862,118

Multi-Asset Income Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities		Net Amounts of Assets Presented in the Statement of Assets and Liabilities
OTC Options Purchased	$	396,449		$              –	$	396,449
Repurchase Agreements	$	743,263		$              –	$	743,263
Total	$	1,139,712		$              –	$	1,139,712

	Net Amount
	of Assets		Amounts Not Offset in the
	Presented in		Statement of Assets and Liabilities
	the Statement				Cash		Securities
	of Assets and		Financial		Collateral		Collateral			Net
Counterparty	Liabilities		Instruments		Received(a)		Received(a)			Amount(b)
Bank of America	$	250,873	$	–	$	–	$	–		$	250,873
Goldman Sachs	$	145,576	$	–	$	–	$	–		$	145,576
Fixed Income Clearing Corp.	$	743,263	$	–	$	–	$	(743,263	)	$	–
Total	$	1,139,712	$	–	$	–	$	(743,263	)	$	396,449

(a)	Collateral disclosed is limited to an amount not to exceed 100% of the net amount of assets (liabilities) presented in the Statements of Assets and Liabilities, for each respective counterparty.
(b)	Net amount represents the amount owed to the Fund by the counterparty as of May 31, 2023.

8. TRUSTEES’ REMUNERATION

The Trust’s officers and one Trustee, who are associated with Lord Abbett, do not receive any compensation from the Trust for serving in such capacities. Independent Trustees’ fees are allocated among all Lord Abbett-sponsored funds based on the net assets of each fund. There is an equity-based plan available to all Independent Trustees under which Independent Trustees may elect to defer receipt of a portion of Trustees’ fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Funds. Such amounts and earnings accrued thereon are included in Trustees’ fees in the Statements of Operations and in Trustees’ fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

9. EXPENSE REDUCTIONS

The Trust has entered into an arrangement with its prior transfer agent and its custodian, whereby credits realized as a result of uninvested cash balances are used to reduce a portion of each Fund’s expenses. The arrangement with the Funds’ prior transfer agent was discontinued effective March 6, 2023.

35

Notes to Financial Statements (continued)

10. INTERFUND LENDING PROGRAM

Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission (“SEC exemptive order”) certain registered open-end management investment companies managed by Lord Abbett, including each Fund, participate in a joint lending and borrowing program (the “Interfund Lending Program”). The SEC exemptive order allows the funds that participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

For the six months ended May 31, 2023, the Funds did not participate as a borrower or lender in the Interfund Lending Program.

11. CUSTODIAN AND ACCOUNTING AGENT

State Street Bank and Trust Company (“SSB”) is the Trust’s custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating each Fund’s NAV.

12. TRANSACTIONS WITH AFFILIATED ISSUERS

An affiliated issuer is one in which a Fund has ownership of at least 5% of the outstanding voting securities of the underlying issuer at any point during the fiscal year or any company which is under common ownership or control. Multi-Asset Balanced Opportunity Fund and Multi-Asset Income Fund had the following transactions with affiliated issuers during the for the six months ended May 31, 2023:

Multi-Asset Balanced Opportunity Fund
Affiliated Issuer	Value at 11/30/2022		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss		)	Change in Appreciation (Depreciation		)	Value at 5/31/2023		Shares as of 5/31/2023		Dividend Income
Lord Abbett Investment Trust-Convertible Fund-Class I	$	86,596,052	$	1,074,975	$	(64,510,599	)	$	(2,685,940	)	$	739,919		$	21,214,407		1,737,462	$	1,074,976
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I		336,026,112		7,403,361		(12,189,190	)		(2,563,655	)		2,253,529			330,930,157		35,507,528		7,403,361
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I		390,857,691		20,551,095		(17,570,000	)		18,213,872	(a)		(26,521,682	)		368,302,903		21,009,863		2,078,480
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I		79,837,486		1,928,683		(6,662,000	)		(2,223,052	)		1,884,176			74,765,293		18,975,963		1,928,683
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I		376,143,288		15,636,883		(17,465,000	)		972,000			(24,310,971	)		350,976,200		29,794,244		–
Lord Abbett Securities Trust-Growth Leaders Fund-Class I		171,305,666		6,768,146		(9,215,000	)		(5,274,465	)		12,717,387			176,301,734		6,008,921		–
Lord Abbett Investment Trust-High Yield Fund-Class I		152,624,937		4,497,615		(29,647,050	)		(3,199,167	)		973,683			125,250,018		20,465,689		4,497,615
Lord Abbett Investment Trust-Income Fund-Class I		–		41,428,907		(1,665,699	)		(23,369	)		(799,175	)		38,940,664		16,157,952		662,903
Lord Abbett Investment Trust-Inflation Focused Fund-Class I		79,340,291		25,795,323		(26,982,835	)		(983,161	)		(18,767	)		77,150,851		6,697,123		1,591,613
Lord Abbett Securities Trust-International Equity Fund-Class I		87,011,638		1,887,443		(1,487,000	)		(207,619	)		(317,168	)		86,887,294		6,612,427		1,887,443
Lord Abbett Securities Trust-International Value Fund-Class I		73,728,784		818,204		(1,424,000	)		(113,283	)		1,456,311			74,466,016		10,547,594		818,203
Lord Abbett Investment Trust-Short Duration Income Fund-Class I		–		21,610,413		(4,180,363	)		(23,530	)		(165,583	)		17,240,937		4,501,550		294,431
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I		258,664,644		5,014,585		(92,311,496	)		135,278			1,546,939			173,049,950		17,532,923		3,820,889
Total								$	2,023,909		$	(30,561,402	)	$	1,915,476,424			$	26,058,597

^(a) Includes $17,228,073 of distributed capital gains.

36

Notes to Financial Statements (continued)

Multi-Asset Income Fund
								Net			Change in					Shares
	Value at		Purchases		Proceeds			Realized			Appreciation			Value at		as of		Dividend
Affiliated Issuer	11/30/2022		at Cost		from Sales			Gain (Loss		)	(Depreciation		)	5/31/2023		5/31/2023		Income
Lord Abbett Investment Trust-Convertible Fund-Class I	$	38,707,231	$	448,731	$	(35,649,226	)	$	(1,364,251	)	$	706,316		$	2,848,801		233,317	$	448,731
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I		307,364,715		6,749,848		(15,271,457	)		(2,965,620	)		2,708,394			298,585,880		32,037,112		6,749,847
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I		106,682,889		6,512,553		(12,922,000	)		5,308,975	(a)		(7,759,140	)		93,073,119		5,309,362		552,424
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I		33,375,023		773,239		(4,437,329	)		(893,043	)		768,958			29,586,848		7,509,352		773,239
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I		113,700,699		1,209,971		(16,863,479	)		1,779,120			(8,394,766	)		91,431,545		7,761,591		–
Lord Abbett Securities Trust-Growth Leaders Fund-Class I		48,233,031		700,000		(10,606,153	)		(8,059,102	)		9,275,326			39,543,102		1,347,754		–
Lord Abbett Investment Trust-High Yield Fund-Class I		104,317,957		2,939,851		(27,468,988	)		(4,751,374	)		3,373,374			78,410,820		12,812,226		2,939,851
Lord Abbett Income Fund-Class I		–		19,494,825		(1,265,514	)		(21,509	)		(366,098	)		17,841,704		7,403,197		307,438
Lord Abbett Investment Trust-Inflation Focused Fund-Class I		56,956,034		11,330,789		(14,517,544	)		105,246			(768,457	)		53,106,068		4,609,902		1,153,953
Lord Abbett Securities Trust-International Equity Fund-Class I		44,225,320		959,329		(1,114,000	)		(44,939	)		(210,822	)		43,814,888		3,334,466		959,329
Lord Abbett Securities Trust-International Value Fund-Class I		34,676,436		384,821		(966,000	)		151,909			491,641			34,738,807		4,920,511		384,821
Lord Abbett Investment Trust-Short Duration Income Fund-Class I		–		9,993,948		(1,359,476	)		(5,516	)		(85,403	)		8,543,553		2,230,693		144,190
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I		111,923,216		10,472,597		(35,961,337	)		78,918			732,356			87,245,750		8,839,488		1,915,641
Total								$	(10,681,186	)	$	471,679		$	878,770,885			$	16,329,464

^(a) Includes $4,750,158 of distributed captial gains.

13. INVESTMENT RISKS

The Funds invest principally in the Underlying Funds and, as a result, a Fund’s performance is directly related to the Underlying Fund’s performance. Each Fund’s ability to meet its investment objective depends on the ability of the Underlying Funds to achieve their investment objectives and on the Fund’s particular allocation of assets among the Underlying Funds and the asset classes they represent. Consequently, a Fund is subject to the particular risks of the Underlying Funds in the proportion in which the Fund invests in them. The value of the Underlying Funds’ investments and the NAVs of the shares of both the Funds and their Underlying Funds will fluctuate in response to various market and economic factors related to the domestic and foreign equity and fixed income markets, as well as the financial condition and prospects of issuers in which the Underlying Funds invest.

37

Notes to Financial Statements (continued)

Certain instruments in which the Funds may invest have historically relied upon LIBOR. As of June 30, 2023, the administrator of LIBOR ceased publication of U.S. dollar LIBOR settings. The LIBOR transition could have adverse impacts on newly issued financial instruments and existing financial instruments which referenced LIBOR and lead to significant short-term and long-term uncertainty and market instability.

Multi-Asset Balanced Opportunity Fund and Multi-Asset Income Fund are subject to the general risks and considerations associated with investing in fixed income securities. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of fixed income securities are likely to decline; when rates fall, such prices tend to rise. Longer- term securities are usually more sensitive to interest rate changes. There is also the risk that an issuer of a fixed income security will fail to make timely payments of principal and/or interest to an Underlying Fund, a risk that is greater with high-yield bonds (sometimes called “junk bonds”) in which one or more of the Underlying Funds may invest. Some issuers, particularly of high- yield bonds, may default as to principal and/or interest payments after an Underlying Fund purchases their securities. A default, or concerns in the market about an increase in risk of default, may result in losses to the Underlying Fund. High-yield bonds are subject to greater price fluctuations, as well as additional risks. The market for below investment grade securities may be less liquid due to such factors as interest rate sensitivity, negative perceptions of the junk bond markets generally, and less secondary market liquidity. This may make such securities more difficult to sell at an acceptable price, especially during periods of financial distress, increased market volatility, or significant market decline.

Each Fund is subject to the general risks and considerations associated with equity investing. The value of an investment will fluctuate in response to movements in the equity securities market in general, a particular industry or sector, or to the changing prospects of individual companies in which the Underlying Funds invest. If an Underlying Fund’s assessment of market conditions or companies held in the Underlying Fund fails to produce the intended result, a Fund could suffer losses or produce poor performance relative to other funds, even in a rising market. Each Fund’s investment exposure to foreign (which may include emerging market) companies generally is subject to the risk that the value of securities issued by foreign companies may be adversely affected by political, economic and social volatility and subject to less government supervision, lack of transparency, or inadequate regulatory and accounting standards, inadequate exchange control regulations, foreign taxes, higher transaction and other costs, and delays in settlement. The cost of a Fund’s potential use of forward currency exchange contracts varies with factors such as the currencies involved, the length of the contract period and the market conditions prevailing. The Underlying Fund’s investments in emerging market companies generally are subject to more risks than investments in developed market companies.

Because Multi-Asset Income Fund will be more heavily invested in fixed income funds than equity funds, it will be more affected by the risks associated with fixed income securities. Given Multi-Asset Balanced Opportunity Fund’s more balanced allocation among fixed income funds and equity funds, it will be affected by risks associated with both equity and fixed income investments.

Each Fund may invest in derivatives, either directly or through its Underlying Funds. Each Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with directly investing in securities and other investments. Derivatives may be subject to risks such as liquidity risk, leveraging risk, interest rate risk, market risk, heightened counterparty risk, credit risk, and volatility. Illiquid securities may lower the Funds’ returns since the

38

Notes to Financial Statements (continued)

Funds may be unable to sell these securities at their desired time or price. Derivatives also may involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the value of the underlying asset, rate or index. Whether a Fund’s use of derivatives is successful will depend on, among other things, the Fund’s ability to correctly forecast market movements, changes in foreign exchange and interest rates, and other factors. If a Fund incorrectly forecasts these and other factors, its performance could suffer. A Fund’s use of derivatives could result in a loss exceeding the amount of the Fund’s investment in these instruments.

Geopolitical and other events (e.g., wars, terrorism, natural disasters, epidemics or pandemics) may disrupt securities markets and adversely affect global economies and markets, thereby decreasing the value of each Fund’s investments. Market disruptions can also prevent the Funds from implementing their investment strategies and achieving their investment objectives.

In March 2023, the shut-down of certain financial institutions raised economic concerns over disruption in the U.S. banking system. There can be no certainty that the actions taken by the U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system objective.

The impact of the COVID-19 outbreak, and the effects of other infectious illness outbreaks, epidemics, or pandemics, may be short term or may continue for an extended period of time. For example, a global pandemic or other widespread health crises could again negatively affect the global economy, the economies of individual countries, and the financial performance of individual issuers, sectors, industries, asset classes, and markets in significant and unforeseen ways. Health crises caused by outbreaks of disease may also exacerbate other pre-existing political, social, and economic risks in certain countries or globally. The foregoing could disrupt the operations of each Fund and its service providers, adversely affect the value and liquidity of each Fund’s investments, and negatively impact each Fund’s performance and your investment in each Fund.

39

Notes to Financial Statements (continued)

14. SUMMARY OF CAPITAL TRANSACTIONS  

Transactions in shares of capital stock were as follows:

Multi-Asset Balanced Opportunity Fund	Six Months Ended May 31, 2023 (unaudited)						Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		13,341,044		$	137,615,308			13,313,208		$	147,197,515
Reinvestment of distributions		1,695,820			17,233,291			31,082,801			369,954,171
Shares reacquired		(23,747,665	)		(243,713,274	)		(32,627,437	)		(355,145,139	)
Increase (decrease)		(8,710,801	)	$	(88,864,675	)		11,768,572		$	162,006,547
Class C Shares
Shares sold		1,566,735		$	16,177,880			966,551		$	10,594,011
Reinvestment of distributions		67,088			673,985			2,959,000			35,106,865
Shares reacquired		(6,456,101	)		(65,494,625	)		(6,700,556	)		(71,880,282	)
Decrease		(4,822,278	)	$	(48,642,760	)		(2,775,005	)	$	(26,179,406	)
Class F Shares
Shares sold		73,380		$	748,296			599,800		$	6,838,279
Reinvestment of distributions		17,977			182,362			1,103,077			13,196,069
Shares reacquired		(1,737,985	)		(17,662,632	)		(5,003,453	)		(54,841,556	)
Decrease		(1,646,628	)	$	(16,731,974	)		(3,300,576	)	$	(34,807,208	)
Class I Shares
Shares sold		2,102,602		$	21,374,961			3,900,170		$	42,013,944
Reinvestment of distributions		54,037			549,608			483,757			5,715,991
Shares reacquired		(1,128,763	)		(11,478,365	)		(1,822,561	)		(18,487,539	)
Increase		1,027,876		$	10,446,204			2,561,366		$	29,242,396
Class P Shares
Shares sold		11,801		$	118,913			10,022		$	105,141
Reinvestment of distributions		403			4,072			11,085			131,807
Shares reacquired		(1,290	)		(13,201	)		(46,820	)		(526,811	)
Increase (decrease)		10,914		$	109,784			(25,713	)	$	(289,863	)
Class R2 Shares
Shares sold		2,046		$	21,508			3,052		$	33,902
Reinvestment of distributions		455			4,768			8,897			109,251
Shares reacquired		(310	)		(3,283	)		(3,921	)		(42,728	)
Increase		2,191		$	22,993			8,028		$	100,425
Class R3 Shares
Shares sold		1,506,956		$	15,475,806			364,549		$	4,006,659
Reinvestment of distributions		38,328			388,715			667,120			7,933,931
Shares reacquired		(471,596	)		(4,797,210	)		(990,069	)		(10,713,995	)
Increase		1,073,688		$	11,067,311			41,600		$	1,226,595
Class R4 Shares
Shares sold		98,871		$	1,006,804			196,398		$	2,140,551
Reinvestment of distributions		11,285			114,714			198,384			2,360,324
Shares reacquired		(149,708	)		(1,530,066	)		(291,102	)		(3,100,878	)
Increase (decrease)		(39,552	)	$	(408,548	)		103,680		$	1,399,997

40

Notes to Financial Statements (continued)

Multi-Asset Balanced Opportunity Fund	Six Months Ended May 31, 2023 (unaudited)						Year Ended November 30, 2022
Class R5 Shares	Shares			Amount			Shares			Amount
Shares sold		368		$	3,773			11,469		$	130,262
Reinvestment of distributions		144			1,465			2,618			31,169
Shares reacquired		(3,242	)		(32,677	)		(11,998	)		(137,609	)
Increase (decrease)		(2,730	)	$	(27,439	)		2,089		$	23,822
Class R6 Shares
Shares sold		34,472		$	352,096			113,969		$	1,329,887
Reinvestment of distributions		5,083			51,845			81,491			969,696
Shares reacquired		(85,290	)		(878,921	)		(68,917	)		(741,044	)
Increase (decrease)		(45,735	)	$	(474,980	)		126,543		$	1,558,539
Multi-Asset Income Fund	Six Months Ended May 31, 2023 (unaudited)						Year Ended November 30, 2022
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		2,966,016		$	43,120,838			5,289,095		$	82,211,859
Reinvestment of distributions		673,271			9,754,592			2,583,273			41,898,843
Shares reacquired		(7,207,754	)		(104,587,143	)		(6,736,769	)		(102,712,873	)
Increase (decrease)		(3,568,467	)	$	(51,711,713	)		1,135,599		$	21,397,829
Class C Shares
Shares sold		132,293		$	1,976,077			389,221		$	6,283,009
Reinvestment of distributions		54,080			797,497			454,115			7,646,011
Shares reacquired		(2,066,920	)		(30,557,704	)		(5,276,072	)		(82,082,981	)
Decrease		(1,880,547	)	$	(27,784,130	)		(4,432,736	)	$	(68,153,961	)
Class F Shares
Shares sold		47,147		$	688,477			849,785		$	13,295,963
Reinvestment of distributions		32,034			463,702			417,182			6,884,819
Shares reacquired		(2,189,362	)		(31,967,887	)		(7,732,186	)		(118,851,678	)
Decrease		(2,110,181	)	$	(30,815,708	)		(6,465,219	)	$	(98,670,896	)
Class F3 Shares
Reinvestment of distributions		598			8,635			4,537			74,975
Shares reacquired		(598	)		(8,635	)		(67,513	)		(1,076,907	)
Decrease		–		$	–			(62,976	)	$	(1,001,932	)
Class I Shares
Shares sold		2,146,946		$	31,112,864			6,489,944		$	98,414,444
Reinvestment of distributions		102,770			1,479,248			187,230			2,915,241
Shares reacquired		(1,921,485	)		(27,749,722	)		(2,043,881	)		(29,674,290	)
Increase		328,231		$	4,842,390			4,633,293		$	71,655,395
Class R2 Shares
Shares sold		3,001		$	45,015			3,310		$	50,512
Reinvestment of distributions		165			2,462			427			7,125
Shares reacquired		(131	)		(1,956	)		(5	)		(75	)
Increase		3,035		$	45,521			3,732		$	57,562

41

Notes to Financial Statements (concluded)

Multi-Asset Income Fund	Six Months Ended May 31, 2023 (unaudited)						Year Ended November 30, 2022
Class R3 Shares	Shares			Amount			Shares			Amount
Shares sold		122,154		$	1,774,886			175,744		$	2,649,388
Reinvestment of distributions		13,835			200,476			60,939			995,718
Shares reacquired		(120,283	)		(1,750,539	)		(407,800	)		(6,226,183	)
Increase (decrease)		15,706		$	224,823			(171,117	)	$	(2,581,077	)
Class R4 Shares
Shares sold		21,216		$	307,482			37,734		$	588,100
Reinvestment of distributions		2,623			38,014			8,989			145,521
Shares reacquired		(10,053	)		(146,300	)		(73,740	)		(1,212,791	)
Increase (decrease)		13,786		$	199,196			(27,017	)	$	(479,170	)
Class R5 Shares
Shares sold		91		$	1,295			72		$	1,113
Reinvestment of distributions		31			449			134			2,154
Shares reacquired		(705	)		(10,022	)		(17	)		(265	)
Increase (decrease)		(583	)	$	(8,278	)		189		$	3,002
Class R6 Shares
Shares sold		1,089		$	15,692			7,808		$	120,422
Reinvestment of distributions		319			4,603			3,244			52,056
Shares reacquired		(43,431	)		(633,416	)		(8,169	)		(133,753	)
Increase (decrease)		(42,023	)	$	(613,121	)		2,883		$	38,725

42

Investments in Underlying Funds

The Funds invests in Underlying Funds managed by Lord Abbett. As of May 31, 2023, each Fund’s long-term investments wereallocated among the Underlying Funds as follows:

Multi-Asset Balanced Opportunity Fund’s Investments:

Underlying Fund Name	%
Lord Abbett Investment Trust-Convertible Fund-Class I	1.11%
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I	17.28%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I	19.23%
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I	3.90%
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I	18.32%
Lord Abbett Securities Trust-Growth Leaders Fund-Class I	9.20%
Lord Abbett Investment Trust-High Yield Fund-Class I	6.54%
Lord Abbett Investment Trust-Income Fund-Class I	2.03%
Lord Abbett Investment Trust-Inflation Focused Fund-Class I	4.03%
Lord Abbett Securities Trust-International Equity Fund-Class I	4.54%
Lord Abbett Securities Trust-International Value Fund-Class I	3.89%
Lord Abbett Investment Trust-Short Duration Income Fund-Class I	0.90%
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I	9.03%
Total	100.00%
Multi-Asset Income Fund’s Investments:
Underlying Fund Name	%
Lord Abbett Investment Trust-Convertible Fund-Class I	0.32%
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I	33.98%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I	10.59%
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund-Class I	3.37%
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I	10.41%
Lord Abbett Securities Trust-Growth Leaders Fund-Class I	4.50%
Lord Abbett Investment Trust-High Yield Fund-Class I	8.92%
Lord Abbett Investment Trust-Income Fund-Class I	2.03%
Lord Abbett Investment Trust-Inflation Focused Fund-Class I	6.04%
Lord Abbett Securities Trust-International Equity Fund-Class I	4.99%
Lord Abbett Securities Trust-International Value Fund-Class I	3.95%
Lord Abbett Investment Trust-Short Duration Income Fund-Class I	0.97%
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I	9.93%
Total	100.00%
Lord Abbett Investment Trust-Convertible Fund
Ten Largest Holdings	% of Investments
Canopy Growth Corp., 4.250%, 7/15/2023	6.19%
Western Digital Corp., 1.500%, 2/1/2024	4.07%
Okta, Inc., 0.125%, 9/1/2025	4.04%
Shopify, Inc., 0.125%, 11/1/2025	3.65%
Palo Alto Networks, Inc., 0.375%, 6/1/2025	3.45%
Uber Technologies, Inc., 12/15/2025	2.88%
GDS Holdings Ltd., 2.000%, 6/1/2025	2.83%
Bentley Systems, Inc., 0.125%, 1/15/2026	2.67%
Bank of America Corp., 7.250%, 1/1/2099	2.35%
Sea Ltd., 0.250%, 9/15/2026	2.30%

43

Investments in Underlying Funds (continued)

Holdings by Sector	% of Investments
Basic Materials	0.59%
Communications	27.29%
Consumer, Cyclical	4.39%
Consumer, Non-cyclical	29.32%
Energy	2.85%
Financial	3.53%
Industrial	6.39%
Technology	17.02%
Utilities	5.40%
Repurchase Agreements	3.22%
Total	100.00%
Lord Abbett Investment Trust-Core Fixed Income Fund
Ten Largest Holdings	% of Investments
U.S. Treasury Bonds, 3.875%, 5/15/2043	3.93%
U.S. Treasury Notes, 3.500%, 4/30/2028	3.49%
U.S. Treasury Bonds, 3.625%, 5/15/2053	2.50%
U.S. Treasury Notes, 3.875%, 3/31/2025	2.35%
Government National Mortgage Association, TBA, 5.000%, 7/20/2053	2.01%
Government National Mortgage Association, TBA, 6.000%, 7/20/2053	1.85%
Government National Mortgage Association, TBA, 5.500%, 7/20/2053	1.71%
Federal Home Loan Bank, 5.110%, 8/29/2023	1.37%
Uniform Mortgage-Backed Security, TBA, 5.500%, 7/15/2053	1.33%
Government National Mortgage Association, TBA, 6.500%, 7/20/2053	1.32%
Holdings by Sector	% of Investments
Asset Backed Securities	11.51%
Basic Materials	0.48%
Consumer Cyclical	1.72%
Communications	2.26%
Consumer Non-cyclical	5.85%
Energy	3.32%
Financial	14.46%
Foreign Government	2.96%
Industrial	0.59%
Mortgage-Backed Securities	32.46%
Technology	0.99%
U.S. Government	17.11%
Utilities	4.49%
Repurchase Agreements	1.80%
Total	100.00%

44

Investments in Underlying Funds (continued)

Lord Abbett Research Fund, Inc.-Dividend Growth Fund

Ten Largest Holdings	% of Investments
Microsoft Corp.	7.49%
Apple, Inc.	4.01%
Master Card, Inc.	4.00%
Exxon Mobil Corp.	3.22%
NVIDIA Corp.	3.22%
NextEra Energy, Inc.	2.98%
UnitedHealth Group, Inc.	2.96%
Morgan Stanley	2.64%
AbbVie, Inc.	2.59%
Walmart, Inc.	2.39%
Holdings by Sector	% of Investments
Communication Services	1.04%
Consumer Discretionary	9.81%
Consumer Staples	7.28%
Energy	3.71%
Financials	18.08%
Health Care	15.91%
Industrials	10.64%
Information Technology	23.93%
Materials	4.26%
Real Estate	1.26%
Utilities	2.97%
Repurchase Agreements	1.11%
Total	100.00%
Lord Abbett Global Fund, Inc.-Emerging Markets Bond Fund
Ten Largest Holdings	% of Investments
Oman Government International Bond, 4.750%, 6/15/2026	2.15%
Indonesia Government International Bond, 1.850%, 3/12/2031	1.84%
Saudi International Bond, 3.450%, 2/2/2061	1.64%
Philippine Government International Bond, 2.650%, 12/10/2045	1.64%
Republic of Turkey, 4.250%, 4/14/2026	1.59%
Republic of Nigeria, 6.500%, 11/28/2027	1.58%
United Mexican States, 2.659%, 5/24/2031	1.49%
Abu Dhabi Government International Bond, 1.700%, 3/2/2031	1.44%
KSA Sukuk Ltd., 5.268%, 10/25/2028	1.44%
State of Qatar, 4.000%, 3/14/2029	1.41%

45

Investments in Underlying Funds (continued)

Holdings by Sector	% of Investments
Basic Materials	1.29%
Communications	0.77%
Consumer, Non-cyclical	0.31%
Energy	16.05%
Financial	4.21%
Foreign Government	70.54%
Industrial	0.36%
Utilities	6.35%
Repurchase Agreements	0.12%
Total	100.00%
Lord Abbett Securities Trust-Fundamental Equity Fund
Ten Largest Holdings	% of Investments
JPMorgan Chase & Co.	3.35%
Alphabet, Inc.	2.72%
Microsoft Corp.	2.41%
Shell PLC	2.35%
UnitedHealth Group, Inc.	2.34%
Adobe, Inc.	2.32%
Raytheon Technologies Corp.	2.25%
Allstate Corp.	2.07%
Parker-Hannifin Corp.	2.04%
AbbVie, Inc.	2.01%
Holdings by Sector	% of Investments
Communication Services	5.91%
Consumer Discretionary	6.68%
Consumer Staples	5.55%
Energy	7.82%
Financials	22.99%
Health Care	15.87%
Industrials	15.42%
Information Technology	11.88%
Materials	2.17%
Real Estate	3.06%
Utilities	2.26%
Repurchase Agreements	0.39%
Total	100.00%

46

Investments in Underlying Funds (continued)

Lord Abbett Securities Trust-Growth Leaders Fund

Ten Largest Holdings	% of Investments
NVIDIA Corp.	9.30%
Apple, Inc.	8.17%
Microsoft Corp.	6.72%
Alphabet, Inc.	3.99%
Meta Platforms, Inc.	2.87%
Shopify, Inc.	2.51%
Arista Networks, Inc.	2.41%
Netflix, Inc.	2.24%
Advanced Micro Devices, Inc.	2.09%
MercadoLibre, Inc.	1.93%
Holdings by Sector	% of Investments
Communication Services	12.91%
Consumer Discretionary	12.85%
Financials	3.08%
Health Care	14.47%
Industrials	5.09%
Information Technology	50.64%
Repurchase Agreements	0.96%
Total	100.00%
Lord Abbett Investment Trust-High Yield Fund
Ten Largest Holdings	% of Investments
Tenet Healthcare Corp., 4.375%, 1/15/2030	0.78%
Ford Motor Credit Co. LLC, 2.900%, 2/10/2029	0.70%
CCO Holdings LLC/CCO Holdings Capital Corp., 5.000%, 2/1/2028	0.65%
CCO Holdings LLC/CCO Holdings Capital Corp., 4.750%, 3/1/2030	0.64%
Medline Borrower LP, 3.875%, 4/1/2029	0.57%
TransDigm, Inc., 4.625%, 1/15/2029	0.50%
Perrigo Finance Unlimited Co., 4.400%, 6/15/2030	0.49%
Ford Motor Credit Co. LLC, 4.000%, 11/13/2030	0.47%
Altice France SA, 5.125%, 7/15/2029	0.46%
Molina Healthcare, Inc., 3.875%, 11/15/2030	0.45%
Holdings by Sector	% of Investments
Basic Materials	6.09%
Communications	7.28%
Consumer Cyclical	25.28%
Consumer Non-cyclical	16.40%
Diversified	0.35%
Energy	16.60%
Financial	5.34%
Foreign Government	0.10%
Industrial	13.78%
Mortgage Backed Securities	0.43%
Technology	3.71%
Utilities	4.40%
Repurchase Agreements	0.24%
Total	100.00%

47

Investments in Underlying Funds (continued)

Lord Abbett Investment Trust-Income Fund

Ten Largest Holdings	% of Investments
U.S. Treasury Bonds, 3.625%, 5/15/2053	1.85%
Sprint Capital Corp. 6.88%, 11/15/2028	1.44%
U.S. Treasury Inflation-Indexed Notes, 0.250%, 1/15/2025	1.19%
JP Morgan Chase & Co., 4.912%, 7/25/2033	1.11%
BAT Capital Corp., 7.75%, 10/16/2032	1.06%
Bank of America Corp., 2.687%, 4/22/2032	1.02%
Continental Resources, Inc., 5.75%, 1/15/2031	0.99%
Netflix, Inc., 5.375%, 11/15/2029	0.98%
Centene Corp., 3.375%, 2/15/203	0.92%
Electricite de France SA, 6.25%, 5/23/2033	0.83%
Holdings by Sector	% of Investments
Asset Backed Securities	6.00%
Basic Materials	1.17%
Communications	5.13%
Consumer Cyclical	3.37%
Consumer Non-cyclical	16.79%
Energy	12.56%
Financial	26.86%
Industrial	3.23%
Mortgage Securities	1.20%
Technology	4.54%
U.S. Government	4.26%
Utilities	13.27%
Repurchase Agreements	1.62%
Total	100.00%
Lord Abbett Investment Trust-Inflation Focused Fund
Ten Largest Holdings	% of Investments
UBS AG, 5.125%, 5/15/2024	1.13%
U.S. Treasury Bills, Zero Coupon, 11/24/2023	1.07%
Danske Bank AS, 5.375%, 1/12/2024	1.02%
Exeter Automobile Receivables Trust Series 2020-2A, 7.190%, 9/15/2027	0.96%
Charter Communications Operating, LLC, 6.903%, 4/30/2025	0.95%
GS Mortgage Securities Corp. Trust Series 2021-RENT, 6.248%, 11/21/2035	0.94%
AMMC CLO Ltd. Series 2020-23A, 6.300%, 10/17/2031	0.92%
Capital One Multi-Asset Execution Trust Series 2022-A2, 3.490%, 5/15/2027	0.85%
HONO Mortgage Trust Series 2021-LULU, 6.257%, 10/15/2036	0.83%
AIB Group PLC, 4.263%, 4/10/2025	0.73%

48

Investments in Underlying Funds (continued)

Holdings by Sector	% of Investments
Asset Backed Securities	26.62%
Basic Materials	2.43%
Communications	2.02%
Consumer, Cyclical	3.56%
Consumer, Non-cyclical	4.97%
Energy	6.73%
Financial	31.40%
Industrial	0.55%
Mortgage Securities	13.15%
Technology	1.48%
U.S. Government	1.10%
Utilities	5.39%
Repurchase Agreements	0.60%
Total	100.00%
Lord Abbett Securities Trust-International Equity Fund
Ten Largest Holdings	% of Investments
Taiwan Semiconductor Manufacturing Co. Ltd.	2.85%
Novo Nordisk AS	2.65%
LVMH Moet Hennessy Louis Vuitton SE	2.46%
ASML Holding NV	2.32%
AstraZeneca PLC	1.99%
Shell PLC	1.93%
L’Oreal SA	1.84%
Sony Group Corp.	1.78%
Schneider Electric SE	1.62%
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen	1.54%
Holdings by Sector	% of Investments
Communication Services	4.08%
Consumer Discretionary	14.33%
Consumer Staples	10.92%
Energy	4.46%
Financials	14.90%
Health Care	12.63%
Industrials	15.25%
Information Technology	13.33%
Materials	4.82%
Real Estate	0.49%
Utilities	1.86%
Repurchase Agreements	2.93%
Total	100.00%

49

Investments in Underlying Funds (continued)

Lord Abbett Securities Trust-International Value Fund

Ten Largest Holdings	% of Investments
Shell PLC	4.11%
Novartis AG	3.24%
Sanofi	2.99%
BHP Group Ltd.	2.65%
Orange SA	2.64%
Sumitomo Mitsui Financial Group, Inc.	2.31%
Toyota Motor Corp.	2.25%
Asahi Group Holdings Ltd.	2.18%
Unilever PLC	2.13%
Imperial Brands PLC	2.10%
Holdings by Sector	% of Investments
Communication Services	3.55%
Consumer Discretionary	9.68%
Consumer Staples	9.93%
Energy	8.46%
Financials	23.95%
Health Care	10.48%
Industrials	15.27%
Information Technology	3.26%
Materials	6.34%
Real Estate	0.90%
Utilities	4.66%
Repurchase Agreements	3.52%
Total	100.00%
Lord Abbett Investment Trust-Short Duration Income Fund
Ten Largest Holdings	% of Investments
U.S. Treasury Notes, 3.875%, 4/30/2025	1.61%
U.S. Treasury Notes, 3.875%, 3/31/2025	1.28%
U.S. Treasury Notes, 4.125%, 1/31/2025	1.14%
U.S. Treasury Inflation-Indexed Notes, 0.250%, 1/15/2025	0.67%
Comcast Hulu Holdings LLC, 6.029%, 3/15/2024	0.55%
Charter Communications Operating LLC, 6.795%, 4/30/2025	0.55%
Citigroup, Inc., 3.106%, 4/8/2026	0.53%
Invitation Homes Operating Partnership LP, 6.253%, 1/31/2025	0.53%
General Motors Financial Co., Inc., 5.100%, 1/17/2024	0.42%
Manufacturers & Traders Trust Co., 4.650%, 1/27/2026	0.41%

50

Investments in Underlying Funds (concluded)

Holdings by Sector	% of Investments
Asset Backed Securities	24.05%
Basic Materials	2.41%
Communications	2.67%
Consumer, Cyclical	3.99%
Consumer, Non-cyclical	6.12%
Energy	5.47%
Financial	27.95%
Government	4.75%
Industrial	1.19%
Mortgage Securities	14.22%
Technology	1.87%
Utilities	4.93%
Repurchase Agreements	0.39%
Total	100.00%
Lord Abbett Investment Trust-Ultra Short Bond Fund
Ten Largest Holdings	% of Investments
U.S. Treasury Notes, 3.875%, 3/31/2025	1.86%
U.S. Treasury Bills, Zero Coupon, 10/19/2023	1.84%
Bayer Corp. 6.05%, 4/21/2023	1.32%
Verizon Master Trust Series 2022-1 A, 1.04%, 1/20/2027	1.23%
Energy Transfer LP, 5.83%, 6/1/2023	1.20%
JPMorgan Chase & Co., 3.80%, 7/24/2023	1.18%
BAT International Finance PLC, 6.178%, 6/27/2023	1.08%
Brookfield Infrastructure Holdings Canada, Inc.,	1.08%
Charter Communications Operating LLC, 6.949%, 2/1/2024	1.01%
Hyundai Capital America, 0.80%, 1/20/2024	1.01%
Holdings by Sector	% of Investments
Asset-Backed Securities	24.88%
Basic Materials	2.84%
Communications	3.35%
Consumer Cyclical	5.27%
Consumer Discretionary	0.70%
Consumer Non Cyclical	8.53%
Energy	3.02%
Financial	36.40%
Industrial	1.02%
Mortgage-Backed Securities	4.29%
Technology	1.02%
U.S. Government	4.69%
Utilities	3.69%
Repurchase Agreements	0.30%
Total	100%

51

Approval of Advisory Contract

The Board, including all of the Trustees who are not “interested persons” of the Company or of Lord Abbett, as defined in the Investment Company Act of 1940, as amended (the “Independent Trustees”), annually considers whether to approve the continuation of the existing management agreement between each Fund and Lord Abbett (the “Agreement”). In connection with its most recent approval, the Board reviewed materials relating specifically to the Agreement, as well as numerous materials received throughout the course of the year, including information about each Fund’s investment performance compared to the performance of an appropriate benchmark. Before making its decision as to each Fund, the Board had the opportunity to ask questions and request further information, taking into account its knowledge of Lord Abbett gained through its meetings and discussions. The Independent Trustees also met with their independent legal counsel in various private sessions at which no representatives of management were present.

The materials received by the Board as to each Fund included, but were not limited to: (1) information provided by Broadridge Financial Solutions (“Broadridge”) regarding the investment performance of the Fund compared to the investment performance of certain funds with similar investment styles as determined by Broadridge, based, in part, on the Fund’s Morningstar category (the “performance peer group”), and the investment performance of one or more appropriate benchmarks; (2) information provided by Broadridge regarding the expense ratios, contractual and actual management fee rates, and other expense components for the Fund and certain funds-of-funds in the same Morningstar category, with generally the same or similar share classes and operational characteristics, including asset size (the “expense peer group”); (3) certain supplemental investment performance information provided by Lord Abbett; (4) information provided by Lord Abbett on the expense ratios, management fee rates, and other expense components for the Fund; (5) sales and redemption information for the Fund; (6) information regarding Lord Abbett’s financial condition; (7) an analysis of the relative profitability to Lord Abbett of providing management and administrative services to the Funds; and (8) information regarding the personnel and other resources devoted by Lord Abbett to managing the Fund.

Investment Management and Related Services Generally. The Board considered the services provided by Lord Abbett to each Fund, including investment research, portfolio management, and trading, and Lord Abbett’s commitment to compliance with all applicable legal requirements. The Board also observed that Lord Abbett was solely engaged in the investment management business and accordingly did not experience the conflicts of interest that may result from being engaged in other lines of business. The Board considered the investment advisory services provided by Lord Abbett to other clients, the fees charged for the services, and the differences in the nature of the services provided to each Fund and other Lord Abbett Funds, on the one hand, and the services provided to other clients, on the other. After reviewing these and related factors, the Board concluded that each Fund was likely to continue to benefit from the nature, extent and quality of the investment services provided by Lord Abbett under the Agreement.

Investment Performance. The Board reviewed each Fund’s investment performance in relation to that of its performance peer group and one or more appropriate benchmarks as of various periods ended June 30, 2022. As to Multi-Asset Balanced Opportunity Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-, and five-year periods, above the median of the performance peer group for the three-year period, and equal to the median for the ten-year period. As to Multi-Asset Income Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-year period, and above the median of the performance peer group for the three-, five-, and ten-year periods. With respect to each Fund, the Board took into account actions taken by Lord Abbett to attempt to improve

52

Approval of Advisory Contract (continued)

fund performance of other Lord Abbett Funds, which would benefit the Funds through their investments in those Funds. The Board took into account changes to each Fund’s portfolio management teams. The Board further considered Lord Abbett’s performance and reputation generally, the performance of other Lord Abbett-managed funds overseen by the Board, and the willingness of Lord Abbett to take steps intended to improve performance when appropriate. After reviewing these and other factors, including those described below, the Board concluded that each Fund’s Agreement should be continued.

Lord Abbett’s Personnel and Methods. The Board considered the qualifications of the personnel providing investment management services to each Fund, in light of its investment objective and discipline, and other services provided to each Fund by Lord Abbett. Among other things, the Board considered the size, experience, and turnover of Lord Abbett’s staff, Lord Abbett’s investment methodology and philosophy, and Lord Abbett’s approach to recruiting, training, and retaining personnel.

Nature and Quality of Other Services. The Board considered the nature, quality, and extent of compliance, administrative, and other services performed by Lord Abbett and the nature and extent of Lord Abbett’s supervision of third party service providers, including each Fund’s transfer agent and custodian.

Expenses. The Board considered the expense level of each Fund, including the contractual and actual management fee rates, and the expense levels of the Fund’s expense peer group. It also considered how each of the expense level and the actual management fee rates of each Fund related to those of the expense peer group and the amount and nature of the fees paid by shareholders. As to each Fund, the Board observed that while the net total expense ratio of the Fund was above the median of the expense peer group, the Fund’s actual management fee (excluding underlying fund fees) was equal to the median of the expense peer group. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that the management fees paid by each Fund were reasonable in light of all of the factors it considered including the nature, quality and extent of services provided by Lord Abbett.

Profitability. As to each Fund, the Board considered the level of Lord Abbett’s operating margin in managing the Fund, including a review of Lord Abbett’s methodology for allocating its costs to its management of the Fund. It considered whether each Fund was profitable to Lord Abbett in connection with the Fund’s operation, including the fee that Lord Abbett receives from the Fund for providing administrative services to the Fund. The Board considered Lord Abbett’s profit margins excluding Lord Abbett’s marketing and distribution expenses. The Board also considered Lord Abbett’s profit margins, without those exclusions, in comparison with available industry data and how those profit margins could affect Lord Abbett’s ability to recruit and retain personnel. The Board recognized that Lord Abbett’s overall profitability was a factor in enabling it to attract and retain qualified personnel to provide services to each Fund. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that Lord Abbett’s profitability with respect to each Fund was not excessive.

Economies of Scale. As to each Fund, the Board considered the extent to which there had been economies of scale in managing the Fund, whether the Fund’s shareholders had appropriately benefited from such economies of scale, and whether there was potential for realization of any further economies of scale. The Board also considered information provided by Lord Abbett regarding how it shares any potential economies of scale through its investments in its businesses supporting the Funds. The Board also considered each Fund’s existing management fee schedule. Based on these considerations, the Board concluded that any economies of scale were adequately addressed in respect of each Fund.

53

Approval of Advisory Contract (concluded)

Other Benefits to Lord Abbett. As to each Fund, the Board considered the amount and nature of the fees paid by the Fund and the Fund’s shareholders to Lord Abbett and the Distributor for services other than investment advisory services, such as the fee that Lord Abbett receives from each Fund for providing administrative services to the Fund. The Board also considered the revenues and profitability of Lord Abbett’s investment advisory business apart from its mutual fund business, and the intangible benefits enjoyed by Lord Abbett by virtue of its relationship with each Fund. The Board observed that the Distributor receives 12b-1 fees from certain of the Lord Abbett Funds as to shares held in accounts for which there is no other broker of record, may retain a portion of the 12b-1 fees it receives, and receives a portion of the sales charges on sales and redemptions of some classes of shares of the Lord Abbett Funds. In addition, the Board observed that Lord Abbett accrues certain benefits for its business of providing investment advice to clients other than the Lord Abbett Funds, but that business also benefits the Funds. The Board also considered that Lord Abbett accrues certain benefits from sponsoring funds that invest in other Lord Abbett Funds and the fees that Lord Abbett receives from the underlying Funds. The Board also noted that Lord Abbett, as disclosed in the prospectus of each Fund, has entered into revenue sharing arrangements with certain entities that distribute shares of the Lord Abbett Funds. The Board also took into consideration the investment research that Lord Abbett receives as a result of client brokerage transactions.

Alternative Arrangements. As to each Fund, the Board considered whether, instead of approving continuation of the Agreement, it might be in the best interests of the Fund to implement one or more alternative arrangements, such as continuing to employ Lord Abbett, but on different terms. After considering all of the relevant factors, the Board unanimously found that continuation of the Agreement was in the best interests of each Fund and its shareholders and voted unanimously to approve the continuation of the Agreement on behalf of each Fund. As to each Fund, in considering whether to approve the continuation of the Agreement, the Board did not identify any single factor as paramount or controlling. Individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. This summary does not discuss in detail all matters considered.

54

Liquidity Risk Management Program

Pursuant to Rule 22e-4 under the 1940 Act, each Fund has adopted a Liquidity Risk Management Program and Policy (“Program”). The Program is designed to assess, manage and periodically review each Fund’s liquidity risk. Liquidity risk is defined under Rule 22e-4 as the risk that each Fund could not meet redemption requests without significant dilution of remaining investors’ interests in the Fund. The Board has appointed Lord Abbett as the administrator for each Fund’s Program. At the May 17, 2023 meeting, Lord Abbett provided the Board with a report addressing the operation of the Program and assessing its adequacy and effectiveness of implementation for the period April 1, 2022 through March 31, 2023. Lord Abbett reported that the Program operated effectively during the period. In particular, Lord Abbett reported that: no Fund breached its 15% limit on illiquid investments at any point during the period and all regulatory reporting related to Rule 22e-4 was completed on time and without issue during the period. There can be no assurance that the Program will achieve its objectives in the future. Please refer to the Funds’ prospectus for more information regarding each Fund’s exposure to liquidity risk and other principal risks to which an investment in each Fund may be subject.

Householding

The Trust has adopted a policy that allows it to send only one copy of each Fund’s prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same “household.” This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be “householded,” please call Lord Abbett at 888-522-2388 or send a written request with your name, the name of your fund or funds and your account number or numbers to Lord Abbett Funds Service Center, P.O. Box 534489, Pittsburgh, PA 15253-4489 (regular mail) or 500 Ross Street 154-0520, Attention: 534489, Pittsburgh, PA 15252 (overnight mail).

Proxy Voting Policies, Procedures and Records

A description of the policies and procedures that Lord Abbett uses to vote proxies related to each Fund’s portfolio securities, and information on how Lord Abbett voted each Fund’s proxies during the 12-month period ended June 30 are available without charge, upon request, (i) by calling 888-522-2388; (ii) on Lord Abbett’s website at www.lordabbett.com; and (iii) on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an attachment to Form N-PORT. Copies of the filings are available without charge, upon request on the SEC’s website at www.sec.gov and may be available by calling Lord Abbett at 888-522-2388.

55

 

This report, when not used for the general information of shareholders of the Fund, is to be distributed only if preceded or accompanied by a current fund prospectus.   Lord Abbett mutual fund shares are distributed by
LORD ABBETT DISTRIBUTOR LLC. Lord Abbett Investment Trust Lord Abbett Multi-Asset Balanced Opportunity Fund   Lord Abbett Multi-Asset Income Fund LASAF-3
(07/23)

Item 2:	Code of Ethics.
	Not applicable.
Item 3:	Audit Committee Financial Expert.
	Not applicable.
Item 4:	Principal Accountant Fees and Services.
	Not applicable.
Item 5:	Audit Committee of Listed Registrants.
	Not applicable.
Item 6:	Investments.
	The Schedule of Investments is included as part of the Reports to Shareholders under Item 1.
Item 7:	Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
	Not applicable.
Item 8:	Portfolio Managers of Closed-End Management Investment Companies.
	Not applicable.
Item 9:	Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
	Not applicable.
Item 10:	Submission of Matters to a Vote of Security Holders.
	Not applicable.
Item 11:	Controls and Procedures.

(a) The principal executive officer and principal financial & accounting officer have concluded as of a date within 90 days of the filing date of this report, based on their evaluation of the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), that the design of such procedures is effective to provide reasonable assurance that material information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12:	Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
	Not applicable.

Item 13: Exhibits.

(a)(1) Code of Ethics. Not applicable.

(a)(2) Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2 under the Investment Company Act of 1940 is attached hereto as a part of EX-99.CERT.

(b) Certification of each principal executive officer and principal financial officer of the Registrant as required by Section 906 of the Sarbanes-Oxley Act of 2002 is provided as a part of EX-99.906CERT.

SIGNATURES

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

LORD ABBETT INVESTMENT TRUST

By:	/s/ Douglas B. Sieg
	Douglas B. Sieg
	President and Chief Executive Officer

Date: July 26, 2023

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

By:	/s/ Douglas B. Sieg
	Douglas B. Sieg
	President and Chief Executive Officer

Date: July 26, 2023

By:	/s/ Michael J. Hebert
	Michael J. Hebert
	Chief Financial Officer and Treasurer

Date: July 26, 2023

EX-99.906 CERT

EX-99.906CERT

CERTIFICATIONS

Pursuant to Section 906 of the

Sarbanes-Oxley Act of 2002

Each of the undersigned below certifies that:

1. This report on Form N-CSR of Lord Abbett Investment Trust (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the issuer.

Date: July 26, 2023

By: /s/ Douglas B. Sieg Douglas B. Sieg President and Chief Executive Officer

By: /s/ Michael J. Hebert Michael J. Hebert Chief Financial Officer and Treasurer

A SIGNED ORIGINAL OF THIS WRITTEN STATEMENT REQUIRED BY SECTION 906, OR OTHER DOCUMENT AUTHENTICATING, ACKNOWLEDGING, OR OTHERWISE ADOPTING THE SIGNATURE THAT APPEARS IN TYPED FORM WITHIN THE ELECTRONIC VERSION OF THIS WRITTEN STATEMENT REQUIRED BY SECTION 906, HAS BEEN PROVIDED TO THE REGISTRANT AND WILL BE RETAINED BY THE REGISTRANT AND FURNISHED TO THE SECURITIES AND EXCHANGE COMMISSION OR ITS STAFF UPON REQUEST.