Vanguard® Intermediate-Term Corporate Bond Index Fund
Schedule of Investments (unaudited)
As of May 31, 2024
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
U.S. Government and Agency Obligations (0.1%) | ||||||
U.S. Government Securities (0.1%) | ||||||
United States Treasury Note/Bond | 4.625% | 4/30/29 | 10,603 | 10,656 | ||
United States Treasury Note/Bond | 4.375% | 5/15/34 | 30,255 | 29,986 | ||
Total U.S. Government and Agency Obligations (Cost $40,552) | 40,642 | |||||
Corporate Bonds (98.6%) | ||||||
Communications (6.9%) | ||||||
Alphabet Inc. | 1.100% | 8/15/30 | 44,645 | 36,208 | ||
America Movil SAB de CV | 2.875% | 5/7/30 | 25,543 | 22,414 | ||
America Movil SAB de CV | 4.700% | 7/21/32 | 18,410 | 17,627 | ||
1 | AT&T Inc. | 4.300% | 2/15/30 | 82,874 | 78,969 | |
AT&T Inc. | 2.750% | 6/1/31 | 80,112 | 68,065 | ||
AT&T Inc. | 2.250% | 2/1/32 | 63,394 | 51,123 | ||
AT&T Inc. | 2.550% | 12/1/33 | 70,260 | 55,407 | ||
AT&T Inc. | 5.400% | 2/15/34 | 80,329 | 79,686 | ||
Baidu Inc. | 3.425% | 4/7/30 | 7,778 | 7,061 | ||
Baidu Inc. | 2.375% | 10/9/30 | 5,716 | 4,827 | ||
Baidu Inc. | 2.375% | 8/23/31 | 20,243 | 16,724 | ||
Bell Telephone Co. of Canada or Bell Canada | 5.100% | 5/11/33 | 27,631 | 26,885 | ||
Bell Telephone Co. of Canada or Bell Canada | 5.200% | 2/15/34 | 23,595 | 22,986 | ||
Booking Holdings Inc. | 4.625% | 4/13/30 | 40,143 | 39,193 | ||
British Telecommunications plc | 9.625% | 12/15/30 | 65,396 | 79,477 | ||
Charter Communications Operating LLC | 2.800% | 4/1/31 | 42,502 | 34,676 | ||
Charter Communications Operating LLC | 2.300% | 2/1/32 | 25,630 | 19,629 | ||
Charter Communications Operating LLC | 4.400% | 4/1/33 | 26,516 | 23,280 | ||
Charter Communications Operating LLC | 6.650% | 2/1/34 | 19,803 | 20,033 | ||
Charter Communications Operating LLC | 6.550% | 6/1/34 | 26,000 | 26,028 | ||
Comcast Corp. | 2.650% | 2/1/30 | 36,666 | 32,200 | ||
Comcast Corp. | 3.400% | 4/1/30 | 41,860 | 38,187 | ||
Comcast Corp. | 4.250% | 10/15/30 | 42,734 | 40,665 | ||
Comcast Corp. | 1.950% | 1/15/31 | 40,269 | 33,038 | ||
Comcast Corp. | 1.500% | 2/15/31 | 39,890 | 31,744 | ||
Comcast Corp. | 5.500% | 11/15/32 | 17,852 | 18,192 | ||
Comcast Corp. | 4.250% | 1/15/33 | 47,630 | 44,231 | ||
Comcast Corp. | 4.650% | 2/15/33 | 26,518 | 25,443 | ||
Comcast Corp. | 7.050% | 3/15/33 | 8,390 | 9,342 | ||
Comcast Corp. | 4.800% | 5/15/33 | 36,014 | 34,817 | ||
Comcast Corp. | 5.300% | 6/1/34 | 16,050 | 16,017 | ||
Deutsche Telekom International Finance BV | 8.750% | 6/15/30 | 87,378 | 101,915 | ||
Deutsche Telekom International Finance BV | 9.250% | 6/1/32 | 14,679 | 18,217 | ||
Discovery Communications LLC | 3.625% | 5/15/30 | 23,979 | 21,095 | ||
Electronic Arts Inc. | 1.850% | 2/15/31 | 21,598 | 17,464 | ||
Expedia Group Inc. | 3.250% | 2/15/30 | 34,145 | 30,498 | ||
Expedia Group Inc. | 2.950% | 3/15/31 | 7,992 | 6,882 | ||
FactSet Research Systems Inc. | 3.450% | 3/1/32 | 13,842 | 11,942 | ||
Fox Corp. | 3.500% | 4/8/30 | 12,391 | 11,208 | ||
Fox Corp. | 6.500% | 10/13/33 | 32,824 | 34,314 | ||
Grupo Televisa SAB | 8.500% | 3/11/32 | 6,929 | 7,843 | ||
Interpublic Group of Cos. Inc. | 4.750% | 3/30/30 | 22,514 | 21,841 | ||
Interpublic Group of Cos. Inc. | 2.400% | 3/1/31 | 7,720 | 6,428 | ||
Koninklijke KPN NV | 8.375% | 10/1/30 | 14,870 | 17,065 | ||
Meta Platforms Inc. | 4.800% | 5/15/30 | 33,924 | 33,781 | ||
Meta Platforms Inc. | 3.850% | 8/15/32 | 75,792 | 69,985 | ||
Meta Platforms Inc. | 4.950% | 5/15/33 | 37,024 | 36,969 | ||
Omnicom Group Inc. | 2.450% | 4/30/30 | 15,364 | 13,136 | ||
Omnicom Group Inc. | 4.200% | 6/1/30 | 14,063 | 13,317 | ||
Omnicom Group Inc. | 2.600% | 8/1/31 | 18,742 | 15,725 | ||
Orange SA | 9.000% | 3/1/31 | 59,358 | 71,016 | ||
Paramount Global | 4.200% | 6/1/29 | 12,321 | 11,076 | ||
Paramount Global | 7.875% | 7/30/30 | 12,461 | 12,994 | ||
Paramount Global | 4.950% | 1/15/31 | 32,596 | 29,184 | ||
Paramount Global | 4.200% | 5/19/32 | 30,672 | 25,525 | ||
Paramount Global | 5.500% | 5/15/33 | 12,562 | 10,920 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Rogers Communications Inc. | 3.800% | 3/15/32 | 49,492 | 43,916 | ||
Rogers Communications Inc. | 5.300% | 2/15/34 | 29,065 | 28,328 | ||
Sprint Capital Corp. | 8.750% | 3/15/32 | 53,551 | 64,093 | ||
Take-Two Interactive Software Inc. | 4.000% | 4/14/32 | 19,468 | 17,705 | ||
Telefonica Europe BV | 8.250% | 9/15/30 | 31,183 | 35,243 | ||
TELUS Corp. | 3.400% | 5/13/32 | 22,832 | 19,741 | ||
Tencent Music Entertainment Group | 2.000% | 9/3/30 | 13,076 | 10,756 | ||
Time Warner Cable Enterprises LLC | 8.375% | 7/15/33 | 25,277 | 27,939 | ||
T-Mobile USA Inc. | 3.875% | 4/15/30 | 164,113 | 152,531 | ||
T-Mobile USA Inc. | 2.550% | 2/15/31 | 63,662 | 53,649 | ||
T-Mobile USA Inc. | 2.875% | 2/15/31 | 34,448 | 29,669 | ||
T-Mobile USA Inc. | 3.500% | 4/15/31 | 67,498 | 60,317 | ||
T-Mobile USA Inc. | 2.250% | 11/15/31 | 25,924 | 21,018 | ||
T-Mobile USA Inc. | 2.700% | 3/15/32 | 25,810 | 21,451 | ||
T-Mobile USA Inc. | 5.200% | 1/15/33 | 27,160 | 26,734 | ||
T-Mobile USA Inc. | 5.050% | 7/15/33 | 77,281 | 75,221 | ||
T-Mobile USA Inc. | 5.150% | 4/15/34 | 27,629 | 27,064 | ||
1 | TWDC Enterprises 18 Corp. | 7.000% | 3/1/32 | 7,545 | 8,459 | |
VeriSign Inc. | 2.700% | 6/15/31 | 20,450 | 16,985 | ||
Verizon Communications Inc. | 4.016% | 12/3/29 | 103,981 | 98,111 | ||
Verizon Communications Inc. | 3.150% | 3/22/30 | 36,521 | 32,727 | ||
Verizon Communications Inc. | 1.500% | 9/18/30 | 8,228 | 6,653 | ||
Verizon Communications Inc. | 1.680% | 10/30/30 | 33,001 | 26,611 | ||
Verizon Communications Inc. | 7.750% | 12/1/30 | 15,470 | 17,551 | ||
Verizon Communications Inc. | 1.750% | 1/20/31 | 59,824 | 48,028 | ||
Verizon Communications Inc. | 2.550% | 3/21/31 | 92,347 | 77,854 | ||
Verizon Communications Inc. | 2.355% | 3/15/32 | 108,900 | 88,389 | ||
Verizon Communications Inc. | 5.050% | 5/9/33 | 38,346 | 37,704 | ||
Verizon Communications Inc. | 4.500% | 8/10/33 | 62,929 | 59,011 | ||
Vodafone Group plc | 7.875% | 2/15/30 | 15,058 | 16,993 | ||
Vodafone Group plc | 6.250% | 11/30/32 | 11,914 | 12,590 | ||
Walt Disney Co. | 2.000% | 9/1/29 | 60,475 | 52,113 | ||
Walt Disney Co. | 3.800% | 3/22/30 | 37,184 | 34,895 | ||
Walt Disney Co. | 2.650% | 1/13/31 | 52,589 | 45,634 | ||
Walt Disney Co. | 6.550% | 3/15/33 | 1,983 | 2,188 | ||
Warnermedia Holdings Inc. | 4.279% | 3/15/32 | 125,476 | 109,830 | ||
Weibo Corp. | 3.375% | 7/8/30 | 19,836 | 17,320 | ||
WPP Finance 2010 | 3.750% | 9/19/24 | 1 | — | ||
3,229,535 | ||||||
Consumer Discretionary (6.3%) | ||||||
Alibaba Group Holding Ltd. | 2.125% | 2/9/31 | 43,988 | 36,247 | ||
Amazon.com Inc. | 4.650% | 12/1/29 | 26,694 | 26,583 | ||
Amazon.com Inc. | 1.500% | 6/3/30 | 62,341 | 51,632 | ||
Amazon.com Inc. | 2.100% | 5/12/31 | 97,778 | 81,716 | ||
Amazon.com Inc. | 3.600% | 4/13/32 | 61,305 | 55,995 | ||
Amazon.com Inc. | 4.700% | 12/1/32 | 34,518 | 33,965 | ||
American Honda Finance Corp. | 4.600% | 4/17/30 | 16,983 | 16,593 | ||
1 | American Honda Finance Corp. | 4.900% | 1/10/34 | 31,505 | 30,502 | |
Aptiv plc | 3.250% | 3/1/32 | 21,582 | 18,613 | ||
AutoNation Inc. | 4.750% | 6/1/30 | 13,132 | 12,511 | ||
AutoNation Inc. | 2.400% | 8/1/31 | 11,854 | 9,473 | ||
AutoNation Inc. | 3.850% | 3/1/32 | 18,698 | 16,465 | ||
AutoZone Inc. | 4.000% | 4/15/30 | 20,512 | 19,220 | ||
AutoZone Inc. | 1.650% | 1/15/31 | 22,910 | 18,265 | ||
AutoZone Inc. | 4.750% | 8/1/32 | 16,153 | 15,438 | ||
AutoZone Inc. | 4.750% | 2/1/33 | 13,400 | 12,756 | ||
AutoZone Inc. | 5.200% | 8/1/33 | 4,326 | 4,259 | ||
AutoZone Inc. | 6.550% | 11/1/33 | 9,089 | 9,765 | ||
Best Buy Co. Inc. | 4.450% | 10/1/28 | 6,323 | 6,135 | ||
Best Buy Co. Inc. | 1.950% | 10/1/30 | 17,800 | 14,657 | ||
Block Financial LLC | 3.875% | 8/15/30 | 16,736 | 15,184 | ||
BorgWarner Inc. | 3.375% | 3/15/25 | 1 | 1 | ||
BorgWarner Inc. | 2.650% | 7/1/27 | 1 | — | ||
Brunswick Corp. | 2.400% | 8/18/31 | 11,617 | 9,210 | ||
Brunswick Corp. | 4.400% | 9/15/32 | 11,401 | 10,156 | ||
Choice Hotels International Inc. | 3.700% | 12/1/29 | 10,461 | 9,351 | ||
Choice Hotels International Inc. | 3.700% | 1/15/31 | 8,377 | 7,307 | ||
Darden Restaurants Inc. | 6.300% | 10/10/33 | 13,188 | 13,556 | ||
Dick's Sporting Goods Inc. | 3.150% | 1/15/32 | 20,332 | 17,128 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
eBay Inc. | 2.700% | 3/11/30 | 24,036 | 21,065 | ||
eBay Inc. | 2.600% | 5/10/31 | 19,449 | 16,526 | ||
eBay Inc. | 6.300% | 11/22/32 | 9,821 | 10,399 | ||
1 | Emory University | 2.143% | 9/1/30 | 10,795 | 9,140 | |
Ford Motor Co. | 9.625% | 4/22/30 | 15,178 | 17,581 | ||
Ford Motor Co. | 7.450% | 7/16/31 | 30,722 | 32,949 | ||
Ford Motor Co. | 3.250% | 2/12/32 | 66,456 | 54,643 | ||
Ford Motor Co. | 6.100% | 8/19/32 | 44,679 | 44,523 | ||
Ford Motor Credit Co. LLC | 7.350% | 3/6/30 | 34,219 | 36,051 | ||
Ford Motor Credit Co. LLC | 7.200% | 6/10/30 | 26,358 | 27,587 | ||
Ford Motor Credit Co. LLC | 4.000% | 11/13/30 | 31,983 | 28,344 | ||
Ford Motor Credit Co. LLC | 6.050% | 3/5/31 | 28,951 | 28,830 | ||
Ford Motor Credit Co. LLC | 3.625% | 6/17/31 | 9,318 | 7,978 | ||
Ford Motor Credit Co. LLC | 7.122% | 11/7/33 | 37,662 | 39,715 | ||
Ford Motor Credit Co. LLC | 6.125% | 3/8/34 | 37,218 | 36,662 | ||
Fortune Brands Innovations Inc. | 3.250% | 9/15/29 | 20,067 | 18,071 | ||
Fortune Brands Innovations Inc. | 4.000% | 3/25/32 | 9,235 | 8,325 | ||
Fortune Brands Innovations Inc. | 5.875% | 6/1/33 | 15,005 | 15,109 | ||
General Motors Co. | 5.400% | 10/15/29 | 29,300 | 29,040 | ||
General Motors Co. | 5.600% | 10/15/32 | 28,834 | 28,688 | ||
General Motors Financial Co. Inc. | 5.550% | 7/15/29 | 28,250 | 28,133 | ||
General Motors Financial Co. Inc. | 5.850% | 4/6/30 | 30,159 | 30,401 | ||
General Motors Financial Co. Inc. | 3.600% | 6/21/30 | 31,969 | 28,562 | ||
General Motors Financial Co. Inc. | 2.350% | 1/8/31 | 11,795 | 9,615 | ||
General Motors Financial Co. Inc. | 5.750% | 2/8/31 | 17,531 | 17,529 | ||
General Motors Financial Co. Inc. | 2.700% | 6/10/31 | 29,866 | 24,592 | ||
General Motors Financial Co. Inc. | 3.100% | 1/12/32 | 36,432 | 30,504 | ||
General Motors Financial Co. Inc. | 6.400% | 1/9/33 | 20,016 | 20,679 | ||
General Motors Financial Co. Inc. | 6.100% | 1/7/34 | 34,185 | 34,416 | ||
General Motors Financial Co. Inc. | 5.950% | 4/4/34 | 36,220 | 36,020 | ||
Genuine Parts Co. | 1.875% | 11/1/30 | 12,586 | 10,156 | ||
Genuine Parts Co. | 2.750% | 2/1/32 | 12,697 | 10,504 | ||
Genuine Parts Co. | 6.875% | 11/1/33 | 9,745 | 10,684 | ||
GXO Logistics Inc. | 2.650% | 7/15/31 | 10,249 | 8,222 | ||
GXO Logistics Inc. | 6.500% | 5/6/34 | 12,835 | 13,040 | ||
Hasbro Inc. | 3.900% | 11/19/29 | 23,414 | 21,445 | ||
Hasbro Inc. | 6.050% | 5/14/34 | 9,750 | 9,716 | ||
Home Depot Inc. | 2.950% | 6/15/29 | 40,283 | 36,706 | ||
Home Depot Inc. | 2.700% | 4/15/30 | 43,835 | 38,683 | ||
Home Depot Inc. | 1.375% | 3/15/31 | 42,179 | 33,353 | ||
Home Depot Inc. | 1.875% | 9/15/31 | 36,945 | 29,872 | ||
Home Depot Inc. | 3.250% | 4/15/32 | 34,712 | 30,573 | ||
Home Depot Inc. | 4.500% | 9/15/32 | 19,328 | 18,698 | ||
Honda Motor Co. Ltd. | 2.967% | 3/10/32 | 18,856 | 16,434 | ||
Hyatt Hotels Corp. | 5.750% | 4/23/30 | 7,298 | 7,414 | ||
JD.com Inc. | 3.375% | 1/14/30 | 14,349 | 13,018 | ||
1 | Johns Hopkins University | 4.705% | 7/1/32 | 8,470 | 8,361 | |
Las Vegas Sands Corp. | 3.900% | 8/8/29 | 14,275 | 12,983 | ||
Las Vegas Sands Corp. | 6.000% | 8/15/29 | 5,225 | 5,245 | ||
Las Vegas Sands Corp. | 6.200% | 8/15/34 | 8,575 | 8,640 | ||
Lear Corp. | 3.500% | 5/30/30 | 8,086 | 7,255 | ||
Lear Corp. | 2.600% | 1/15/32 | 3,124 | 2,540 | ||
Lowe's Cos. Inc. | 4.500% | 4/15/30 | 40,600 | 39,278 | ||
Lowe's Cos. Inc. | 1.700% | 10/15/30 | 30,768 | 24,925 | ||
Lowe's Cos. Inc. | 2.625% | 4/1/31 | 39,653 | 33,702 | ||
Lowe's Cos. Inc. | 3.750% | 4/1/32 | 35,851 | 32,412 | ||
Lowe's Cos. Inc. | 5.000% | 4/15/33 | 29,363 | 28,792 | ||
Lowe's Cos. Inc. | 5.150% | 7/1/33 | 24,196 | 23,980 | ||
Magna International Inc. | 2.450% | 6/15/30 | 19,441 | 16,627 | ||
Magna International Inc. | 5.500% | 3/21/33 | 12,845 | 13,048 | ||
1 | Marriott International Inc. | 4.625% | 6/15/30 | 29,902 | 28,820 | |
1 | Marriott International Inc. | 2.850% | 4/15/31 | 31,972 | 27,173 | |
1 | Marriott International Inc. | 3.500% | 10/15/32 | 28,390 | 24,530 | |
1 | Marriott International Inc. | 2.750% | 10/15/33 | 13,133 | 10,541 | |
Marriott International Inc. | 5.300% | 5/15/34 | 23,135 | 22,633 | ||
Masco Corp. | 2.000% | 10/1/30 | 7,729 | 6,288 | ||
Masco Corp. | 2.000% | 2/15/31 | 15,331 | 12,452 | ||
1 | McDonald's Corp. | 2.625% | 9/1/29 | 26,158 | 23,292 | |
1 | McDonald's Corp. | 2.125% | 3/1/30 | 12,501 | 10,642 | |
1 | McDonald's Corp. | 3.600% | 7/1/30 | 24,598 | 22,647 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
1 | McDonald's Corp. | 4.600% | 9/9/32 | 19,829 | 19,076 | |
McDonald's Corp. | 4.950% | 8/14/33 | 14,105 | 13,822 | ||
1 | McDonald's Corp. | 5.200% | 5/17/34 | 14,400 | 14,299 | |
MDC Holdings Inc. | 3.850% | 1/15/30 | 6,724 | 6,263 | ||
MDC Holdings Inc. | 2.500% | 1/15/31 | 9,686 | 8,544 | ||
2 | Mercedes-Benz Finance North America LLC | 3.100% | 8/15/29 | 37 | 34 | |
Mercedes-Benz Finance North America LLC | 8.500% | 1/18/31 | 48,594 | 57,904 | ||
2 | Mercedes-Benz Finance North America LLC | 2.450% | 3/2/31 | 120 | 102 | |
Mohawk Industries Inc. | 3.625% | 5/15/30 | 12,798 | 11,685 | ||
NIKE Inc. | 2.850% | 3/27/30 | 37,188 | 33,296 | ||
NVR Inc. | 3.000% | 5/15/30 | 22,384 | 19,648 | ||
O'Reilly Automotive Inc. | 3.900% | 6/1/29 | 13,358 | 12,609 | ||
O'Reilly Automotive Inc. | 4.200% | 4/1/30 | 8,372 | 7,932 | ||
O'Reilly Automotive Inc. | 1.750% | 3/15/31 | 4,377 | 3,508 | ||
O'Reilly Automotive Inc. | 4.700% | 6/15/32 | 29,081 | 27,866 | ||
Owens Corning | 3.950% | 8/15/29 | 13,847 | 13,015 | ||
Owens Corning | 3.875% | 6/1/30 | 7,934 | 7,376 | ||
PulteGroup Inc. | 7.875% | 6/15/32 | 8,067 | 9,214 | ||
PulteGroup Inc. | 6.375% | 5/15/33 | 10,280 | 10,759 | ||
Ralph Lauren Corp. | 2.950% | 6/15/30 | 18,715 | 16,568 | ||
Ross Stores Inc. | 1.875% | 4/15/31 | 12,883 | 10,458 | ||
Sands China Ltd. | 4.625% | 6/18/30 | 17,990 | 16,597 | ||
Sands China Ltd. | 3.250% | 8/8/31 | 12,580 | 10,563 | ||
Stanley Black & Decker Inc. | 2.300% | 3/15/30 | 8,625 | 7,281 | ||
Stanley Black & Decker Inc. | 3.000% | 5/15/32 | 10,786 | 9,098 | ||
Starbucks Corp. | 3.550% | 8/15/29 | 26,640 | 24,856 | ||
Starbucks Corp. | 2.250% | 3/12/30 | 22,967 | 19,663 | ||
Starbucks Corp. | 2.550% | 11/15/30 | 37,659 | 32,234 | ||
Starbucks Corp. | 4.900% | 2/15/31 | 7,105 | 7,000 | ||
Starbucks Corp. | 3.000% | 2/14/32 | 26,984 | 23,230 | ||
Starbucks Corp. | 4.800% | 2/15/33 | 7,255 | 7,040 | ||
Starbucks Corp. | 5.000% | 2/15/34 | 10,488 | 10,191 | ||
Tapestry Inc. | 7.700% | 11/27/30 | 25,038 | 26,169 | ||
Tapestry Inc. | 3.050% | 3/15/32 | 7,481 | 6,008 | ||
Tapestry Inc. | 7.850% | 11/27/33 | 30,593 | 32,229 | ||
TJX Cos. Inc. | 3.875% | 4/15/30 | 9,461 | 8,922 | ||
TJX Cos. Inc. | 1.600% | 5/15/31 | 10,725 | 8,588 | ||
Toll Brothers Finance Corp. | 3.800% | 11/1/29 | 10,692 | 9,818 | ||
Toyota Motor Corp. | 2.760% | 7/2/29 | 14,905 | 13,577 | ||
Toyota Motor Corp. | 2.362% | 3/25/31 | 6,046 | 5,171 | ||
Toyota Motor Corp. | 5.123% | 7/13/33 | 2,100 | 2,176 | ||
Toyota Motor Credit Corp. | 3.650% | 1/8/29 | 25 | 24 | ||
1 | Toyota Motor Credit Corp. | 4.450% | 6/29/29 | 19,064 | 18,611 | |
1 | Toyota Motor Credit Corp. | 2.150% | 2/13/30 | 25,778 | 22,088 | |
1 | Toyota Motor Credit Corp. | 3.375% | 4/1/30 | 24,582 | 22,513 | |
1 | Toyota Motor Credit Corp. | 4.550% | 5/17/30 | 14,871 | 14,491 | |
Toyota Motor Credit Corp. | 5.550% | 11/20/30 | 30,296 | 31,001 | ||
1 | Toyota Motor Credit Corp. | 1.650% | 1/10/31 | 15,321 | 12,344 | |
Toyota Motor Credit Corp. | 5.100% | 3/21/31 | 23,930 | 23,872 | ||
Toyota Motor Credit Corp. | 1.900% | 9/12/31 | 14,307 | 11,508 | ||
1 | Toyota Motor Credit Corp. | 2.400% | 1/13/32 | 6,328 | 5,258 | |
Toyota Motor Credit Corp. | 4.700% | 1/12/33 | 9,920 | 9,614 | ||
1 | Toyota Motor Credit Corp. | 4.800% | 1/5/34 | 17,756 | 17,119 | |
Tractor Supply Co. | 1.750% | 11/1/30 | 17,463 | 14,062 | ||
Tractor Supply Co. | 5.250% | 5/15/33 | 19,643 | 19,440 | ||
VF Corp. | 2.950% | 4/23/30 | 18,723 | 15,134 | ||
Whirlpool Corp. | 2.400% | 5/15/31 | 4,755 | 3,878 | ||
Whirlpool Corp. | 4.700% | 5/14/32 | 7,669 | 7,150 | ||
Whirlpool Corp. | 5.500% | 3/1/33 | 7,865 | 7,686 | ||
Whirlpool Corp. | 5.750% | 3/1/34 | 8,050 | 7,888 | ||
1 | Yale University | 1.482% | 4/15/30 | 12,907 | 10,709 | |
2,958,463 | ||||||
Consumer Staples (6.5%) | ||||||
Altria Group Inc. | 3.400% | 5/6/30 | 12,084 | 10,860 | ||
Altria Group Inc. | 2.450% | 2/4/32 | 51,626 | 41,469 | ||
Altria Group Inc. | 6.875% | 11/1/33 | 9,442 | 10,175 | ||
Anheuser-Busch InBev Worldwide Inc. | 3.500% | 6/1/30 | 49,312 | 45,551 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.900% | 1/23/31 | 20,195 | 20,154 | ||
Anheuser-Busch InBev Worldwide Inc. | 5.000% | 6/15/34 | 5,750 | 5,651 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Archer-Daniels-Midland Co. | 3.250% | 3/27/30 | 25,160 | 22,764 | ||
Archer-Daniels-Midland Co. | 2.900% | 3/1/32 | 27,196 | 23,048 | ||
Archer-Daniels-Midland Co. | 5.935% | 10/1/32 | 1,030 | 1,088 | ||
Avery Dennison Corp. | 2.650% | 4/30/30 | 12,902 | 11,149 | ||
Avery Dennison Corp. | 2.250% | 2/15/32 | 9,395 | 7,595 | ||
Avery Dennison Corp. | 5.750% | 3/15/33 | 10,566 | 10,778 | ||
BAT Capital Corp. | 3.462% | 9/6/29 | 14,833 | 13,468 | ||
BAT Capital Corp. | 4.906% | 4/2/30 | 31,899 | 30,967 | ||
BAT Capital Corp. | 6.343% | 8/2/30 | 28,051 | 29,256 | ||
BAT Capital Corp. | 5.834% | 2/20/31 | 10,240 | 10,366 | ||
BAT Capital Corp. | 2.726% | 3/25/31 | 31,222 | 26,234 | ||
BAT Capital Corp. | 4.742% | 3/16/32 | 32,728 | 31,025 | ||
BAT Capital Corp. | 7.750% | 10/19/32 | 14,156 | 15,972 | ||
BAT Capital Corp. | 6.421% | 8/2/33 | 29,972 | 31,287 | ||
BAT Capital Corp. | 6.000% | 2/20/34 | 20,650 | 20,875 | ||
Brown-Forman Corp. | 4.750% | 4/15/33 | 18,585 | 18,096 | ||
Bunge Ltd. Finance Corp. | 2.750% | 5/14/31 | 27,022 | 23,022 | ||
Campbell Soup Co. | 2.375% | 4/24/30 | 12,668 | 10,797 | ||
Campbell Soup Co. | 5.400% | 3/21/34 | 21,547 | 21,321 | ||
Church & Dwight Co. Inc. | 2.300% | 12/15/31 | 4,922 | 4,049 | ||
Church & Dwight Co. Inc. | 5.600% | 11/15/32 | 17,860 | 18,460 | ||
Clorox Co. | 1.800% | 5/15/30 | 12,215 | 10,101 | ||
Clorox Co. | 4.600% | 5/1/32 | 16,263 | 15,699 | ||
Coca-Cola Co. | 2.125% | 9/6/29 | 25,326 | 22,198 | ||
Coca-Cola Co. | 3.450% | 3/25/30 | 29,171 | 27,056 | ||
Coca-Cola Co. | 1.650% | 6/1/30 | 34,694 | 28,789 | ||
Coca-Cola Co. | 2.000% | 3/5/31 | 26,449 | 22,029 | ||
Coca-Cola Co. | 1.375% | 3/15/31 | 44,477 | 35,482 | ||
Coca-Cola Co. | 2.250% | 1/5/32 | 43,963 | 36,694 | ||
Coca-Cola Co. | 5.000% | 5/13/34 | 15,275 | 15,235 | ||
Coca-Cola Consolidated Inc. | 5.450% | 6/1/34 | 6,000 | 6,030 | ||
Coca-Cola Femsa SAB de CV | 2.750% | 1/22/30 | 23,206 | 20,437 | ||
Coca-Cola Femsa SAB de CV | 1.850% | 9/1/32 | 18,364 | 14,085 | ||
Colgate-Palmolive Co. | 3.250% | 8/15/32 | 12,873 | 11,418 | ||
Colgate-Palmolive Co. | 4.600% | 3/1/33 | 11,534 | 11,282 | ||
Conagra Brands Inc. | 8.250% | 9/15/30 | 5,097 | 5,821 | ||
Constellation Brands Inc. | 3.150% | 8/1/29 | 24,803 | 22,405 | ||
Constellation Brands Inc. | 2.875% | 5/1/30 | 11,409 | 9,970 | ||
Constellation Brands Inc. | 2.250% | 8/1/31 | 24,312 | 19,825 | ||
Constellation Brands Inc. | 4.750% | 5/9/32 | 14,320 | 13,711 | ||
Constellation Brands Inc. | 4.900% | 5/1/33 | 20,236 | 19,439 | ||
Costco Wholesale Corp. | 1.600% | 4/20/30 | 52,113 | 43,455 | ||
Costco Wholesale Corp. | 1.750% | 4/20/32 | 32,472 | 25,914 | ||
Diageo Capital plc | 2.375% | 10/24/29 | 32,510 | 28,528 | ||
Diageo Capital plc | 2.000% | 4/29/30 | 29,819 | 25,179 | ||
Diageo Capital plc | 2.125% | 4/29/32 | 7,349 | 5,920 | ||
Diageo Capital plc | 5.500% | 1/24/33 | 19,101 | 19,486 | ||
Diageo Capital plc | 5.625% | 10/5/33 | 19,991 | 20,641 | ||
Dollar General Corp. | 3.500% | 4/3/30 | 21,210 | 19,258 | ||
Dollar General Corp. | 5.000% | 11/1/32 | 17,206 | 16,730 | ||
Dollar General Corp. | 5.450% | 7/5/33 | 23,849 | 23,614 | ||
Dollar Tree Inc. | 2.650% | 12/1/31 | 17,966 | 14,832 | ||
Estee Lauder Cos. Inc. | 2.375% | 12/1/29 | 12,687 | 11,062 | ||
Estee Lauder Cos. Inc. | 2.600% | 4/15/30 | 16,051 | 14,011 | ||
Estee Lauder Cos. Inc. | 1.950% | 3/15/31 | 20,349 | 16,633 | ||
Estee Lauder Cos. Inc. | 4.650% | 5/15/33 | 9,014 | 8,696 | ||
Estee Lauder Cos. Inc. | 5.000% | 2/14/34 | 15,615 | 15,244 | ||
Flowers Foods Inc. | 2.400% | 3/15/31 | 13,543 | 11,173 | ||
General Mills Inc. | 2.875% | 4/15/30 | 15,336 | 13,568 | ||
General Mills Inc. | 2.250% | 10/14/31 | 15,585 | 12,779 | ||
General Mills Inc. | 4.950% | 3/29/33 | 25,115 | 24,394 | ||
Haleon US Capital LLC | 3.625% | 3/24/32 | 51,601 | 46,015 | ||
Hershey Co. | 2.450% | 11/15/29 | 884 | 780 | ||
Hershey Co. | 1.700% | 6/1/30 | 11,160 | 9,273 | ||
Hershey Co. | 4.500% | 5/4/33 | 13,992 | 13,586 | ||
Hormel Foods Corp. | 1.800% | 6/11/30 | 26,420 | 22,014 | ||
Ingredion Inc. | 2.900% | 6/1/30 | 15,869 | 13,857 | ||
J M Smucker Co. | 2.375% | 3/15/30 | 2,883 | 2,475 | ||
J M Smucker Co. | 2.125% | 3/15/32 | 6,475 | 5,159 | ||
J M Smucker Co. | 6.200% | 11/15/33 | 38,366 | 40,091 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
JBS USA Holding Lux Sarl | 5.500% | 1/15/30 | 34,537 | 33,805 | ||
JBS USA Holding Lux Sarl | 3.750% | 12/1/31 | 19,892 | 17,265 | ||
JBS USA Holding Lux Sarl | 3.625% | 1/15/32 | 25,306 | 21,733 | ||
JBS USA Holding Lux Sarl | 3.000% | 5/15/32 | 21,250 | 17,287 | ||
JBS USA Holding Lux Sarl | 5.750% | 4/1/33 | 63,768 | 62,874 | ||
2 | JBS USA Holding Lux Sarl | 6.750% | 3/15/34 | 19,868 | 20,909 | |
Kellanova | 2.100% | 6/1/30 | 13,028 | 10,950 | ||
1 | Kellanova | 7.450% | 4/1/31 | 12,184 | 13,608 | |
Kellanova | 5.250% | 3/1/33 | 7,582 | 7,526 | ||
Kenvue Inc. | 5.000% | 3/22/30 | 24,571 | 24,545 | ||
Kenvue Inc. | 4.900% | 3/22/33 | 34,578 | 34,018 | ||
Keurig Dr Pepper Inc. | 3.200% | 5/1/30 | 17,274 | 15,503 | ||
1 | Keurig Dr Pepper Inc. | 2.250% | 3/15/31 | 16,502 | 13,664 | |
1 | Keurig Dr Pepper Inc. | 5.200% | 3/15/31 | 15,530 | 15,406 | |
Keurig Dr Pepper Inc. | 4.050% | 4/15/32 | 17,675 | 16,310 | ||
Keurig Dr Pepper Inc. | 5.300% | 3/15/34 | 16,940 | 16,802 | ||
Kimberly-Clark Corp. | 3.100% | 3/26/30 | 21,791 | 19,783 | ||
Kimberly-Clark Corp. | 2.000% | 11/2/31 | 15,955 | 13,147 | ||
Kraft Heinz Foods Co. | 3.750% | 4/1/30 | 21,514 | 19,993 | ||
Kraft Heinz Foods Co. | 4.250% | 3/1/31 | 18,244 | 17,261 | ||
Kraft Heinz Foods Co. | 6.750% | 3/15/32 | 6,446 | 7,015 | ||
Kroger Co. | 2.200% | 5/1/30 | 16,572 | 14,029 | ||
Kroger Co. | 1.700% | 1/15/31 | 16,482 | 13,179 | ||
Kroger Co. | 7.500% | 4/1/31 | 15,230 | 17,054 | ||
McCormick & Co. Inc. | 2.500% | 4/15/30 | 7,584 | 6,522 | ||
McCormick & Co. Inc. | 1.850% | 2/15/31 | 5,449 | 4,399 | ||
McCormick & Co. Inc. | 4.950% | 4/15/33 | 12,934 | 12,542 | ||
Mondelez International Inc. | 2.750% | 4/13/30 | 19,737 | 17,362 | ||
Mondelez International Inc. | 1.500% | 2/4/31 | 14,201 | 11,280 | ||
Mondelez International Inc. | 3.000% | 3/17/32 | 22,469 | 19,256 | ||
Mondelez International Inc. | 1.875% | 10/15/32 | 10,779 | 8,463 | ||
PepsiCo Inc. | 2.625% | 7/29/29 | 32,009 | 28,835 | ||
PepsiCo Inc. | 2.750% | 3/19/30 | 41,135 | 36,571 | ||
PepsiCo Inc. | 1.625% | 5/1/30 | 29,571 | 24,608 | ||
PepsiCo Inc. | 1.400% | 2/25/31 | 25,854 | 20,664 | ||
PepsiCo Inc. | 1.950% | 10/21/31 | 32,168 | 26,298 | ||
PepsiCo Inc. | 3.900% | 7/18/32 | 32,033 | 29,723 | ||
Philip Morris International Inc. | 3.375% | 8/15/29 | 31,877 | 29,363 | ||
Philip Morris International Inc. | 5.625% | 11/17/29 | 25,334 | 25,790 | ||
Philip Morris International Inc. | 5.125% | 2/15/30 | 51,999 | 51,611 | ||
Philip Morris International Inc. | 2.100% | 5/1/30 | 20,862 | 17,574 | ||
Philip Morris International Inc. | 5.500% | 9/7/30 | 11,042 | 11,143 | ||
Philip Morris International Inc. | 1.750% | 11/1/30 | 18,345 | 14,834 | ||
Philip Morris International Inc. | 5.125% | 2/13/31 | 36,153 | 35,595 | ||
Philip Morris International Inc. | 5.750% | 11/17/32 | 32,509 | 33,163 | ||
Philip Morris International Inc. | 5.375% | 2/15/33 | 69,504 | 68,928 | ||
Philip Morris International Inc. | 5.625% | 9/7/33 | 13,244 | 13,351 | ||
Philip Morris International Inc. | 5.250% | 2/13/34 | 49,633 | 48,593 | ||
Pilgrim's Pride Corp. | 4.250% | 4/15/31 | 29,904 | 26,934 | ||
Pilgrim's Pride Corp. | 3.500% | 3/1/32 | 26,123 | 21,967 | ||
Pilgrim's Pride Corp. | 6.250% | 7/1/33 | 25,186 | 25,525 | ||
Pilgrim's Pride Corp. | 6.875% | 5/15/34 | 8,565 | 9,052 | ||
Procter & Gamble Co. | 3.000% | 3/25/30 | 33,053 | 30,217 | ||
Procter & Gamble Co. | 1.200% | 10/29/30 | 40,981 | 33,008 | ||
Procter & Gamble Co. | 1.950% | 4/23/31 | 22,953 | 19,270 | ||
Procter & Gamble Co. | 2.300% | 2/1/32 | 13,312 | 11,313 | ||
Procter & Gamble Co. | 4.050% | 1/26/33 | 14,726 | 14,000 | ||
Procter & Gamble Co. | 4.550% | 1/29/34 | 22,608 | 21,987 | ||
Sysco Corp. | 2.400% | 2/15/30 | 18,895 | 16,229 | ||
Sysco Corp. | 5.950% | 4/1/30 | 28,394 | 29,452 | ||
Sysco Corp. | 2.450% | 12/14/31 | 5,631 | 4,631 | ||
Sysco Corp. | 6.000% | 1/17/34 | 9,659 | 10,102 | ||
Target Corp. | 2.350% | 2/15/30 | 18,158 | 15,822 | ||
Target Corp. | 2.650% | 9/15/30 | 6,868 | 6,040 | ||
Target Corp. | 4.500% | 9/15/32 | 25,748 | 24,717 | ||
Target Corp. | 4.400% | 1/15/33 | 6,506 | 6,250 | ||
Tyson Foods Inc. | 5.700% | 3/15/34 | 19,350 | 19,236 | ||
Unilever Capital Corp. | 2.125% | 9/6/29 | 19,764 | 17,246 | ||
Unilever Capital Corp. | 1.375% | 9/14/30 | 3,972 | 3,205 | ||
Unilever Capital Corp. | 1.750% | 8/12/31 | 17,220 | 13,903 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Unilever Capital Corp. | 5.900% | 11/15/32 | 23,361 | 24,755 | ||
Unilever Capital Corp. | 5.000% | 12/8/33 | 27,834 | 27,733 | ||
Walmart Inc. | 3.250% | 7/8/29 | 18,171 | 16,965 | ||
Walmart Inc. | 2.375% | 9/24/29 | 9,650 | 8,604 | ||
Walmart Inc. | 7.550% | 2/15/30 | 3,128 | 3,584 | ||
Walmart Inc. | 4.000% | 4/15/30 | 14,058 | 13,571 | ||
Walmart Inc. | 1.800% | 9/22/31 | 53,690 | 43,949 | ||
Walmart Inc. | 4.150% | 9/9/32 | 31,292 | 30,040 | ||
Walmart Inc. | 4.100% | 4/15/33 | 37,693 | 35,694 | ||
3,052,685 | ||||||
Energy (6.7%) | ||||||
Apache Corp. | 4.250% | 1/15/30 | 12,678 | 11,737 | ||
Baker Hughes Holdings LLC | 4.486% | 5/1/30 | 12,190 | 11,716 | ||
Boardwalk Pipelines LP | 3.400% | 2/15/31 | 11,952 | 10,397 | ||
Boardwalk Pipelines LP | 3.600% | 9/1/32 | 12,958 | 11,124 | ||
BP Capital Markets America Inc. | 4.970% | 10/17/29 | 18,500 | 18,394 | ||
BP Capital Markets America Inc. | 3.633% | 4/6/30 | 39,497 | 36,663 | ||
BP Capital Markets America Inc. | 1.749% | 8/10/30 | 22,765 | 18,803 | ||
BP Capital Markets America Inc. | 2.721% | 1/12/32 | 43,889 | 37,225 | ||
BP Capital Markets America Inc. | 4.812% | 2/13/33 | 67,367 | 65,155 | ||
BP Capital Markets America Inc. | 4.893% | 9/11/33 | 44,648 | 43,327 | ||
BP Capital Markets America Inc. | 4.989% | 4/10/34 | 26,000 | 25,322 | ||
BP Capital Markets plc | 6.450% | Perpetual | 33,277 | 34,031 | ||
Burlington Resources LLC | 7.200% | 8/15/31 | 3,900 | 4,360 | ||
Burlington Resources LLC | 7.400% | 12/1/31 | 4,926 | 5,576 | ||
Canadian Natural Resources Ltd. | 2.950% | 7/15/30 | 16,394 | 14,291 | ||
Canadian Natural Resources Ltd. | 7.200% | 1/15/32 | 9,631 | 10,502 | ||
Canadian Natural Resources Ltd. | 6.450% | 6/30/33 | 7,134 | 7,533 | ||
Cenovus Energy Inc. | 2.650% | 1/15/32 | 13,453 | 11,061 | ||
Cheniere Corpus Christi Holdings LLC | 3.700% | 11/15/29 | 28,144 | 25,867 | ||
2 | Cheniere Energy Inc. | 5.650% | 4/15/34 | 38,379 | 38,089 | |
Cheniere Energy Partners LP | 4.500% | 10/1/29 | 37,465 | 35,619 | ||
Cheniere Energy Partners LP | 4.000% | 3/1/31 | 50,346 | 45,481 | ||
Cheniere Energy Partners LP | 3.250% | 1/31/32 | 43,593 | 37,000 | ||
Cheniere Energy Partners LP | 5.950% | 6/30/33 | 34,565 | 34,909 | ||
2 | Cheniere Energy Partners LP | 5.750% | 8/15/34 | 5,255 | 5,228 | |
Chevron Corp. | 2.236% | 5/11/30 | 37,537 | 32,329 | ||
Chevron USA Inc. | 3.250% | 10/15/29 | 13,576 | 12,548 | ||
Conoco Funding Co. | 7.250% | 10/15/31 | 5,422 | 6,089 | ||
ConocoPhillips | 2.400% | 2/15/31 | 19,687 | 16,472 | ||
ConocoPhillips | 5.900% | 10/15/32 | 16,271 | 17,109 | ||
ConocoPhillips Co. | 5.050% | 9/15/33 | 30,252 | 29,841 | ||
Coterra Energy Inc. | 5.600% | 3/15/34 | 12,920 | 12,849 | ||
DCP Midstream Operating LP | 8.125% | 8/16/30 | 2,645 | 2,990 | ||
DCP Midstream Operating LP | 3.250% | 2/15/32 | 10,939 | 9,347 | ||
Devon Energy Corp. | 4.500% | 1/15/30 | 18,093 | 17,308 | ||
Devon Energy Corp. | 7.875% | 9/30/31 | 15,823 | 17,950 | ||
Devon Energy Corp. | 7.950% | 4/15/32 | 7,903 | 8,999 | ||
Diamondback Energy Inc. | 3.500% | 12/1/29 | 22,892 | 20,996 | ||
Diamondback Energy Inc. | 5.150% | 1/30/30 | 23,240 | 23,031 | ||
Diamondback Energy Inc. | 3.125% | 3/24/31 | 19,190 | 16,807 | ||
Diamondback Energy Inc. | 6.250% | 3/15/33 | 26,168 | 27,348 | ||
Diamondback Energy Inc. | 5.400% | 4/18/34 | 34,135 | 33,661 | ||
Eastern Gas Transmission & Storage Inc. | 3.000% | 11/15/29 | 11,053 | 9,810 | ||
Enbridge Inc. | 3.125% | 11/15/29 | 20,460 | 18,422 | ||
Enbridge Inc. | 6.200% | 11/15/30 | 15,438 | 16,135 | ||
Enbridge Inc. | 5.700% | 3/8/33 | 56,232 | 56,444 | ||
Enbridge Inc. | 2.500% | 8/1/33 | 25,688 | 20,263 | ||
Enbridge Inc. | 5.625% | 4/5/34 | 31,680 | 31,484 | ||
Energy Transfer LP | 4.150% | 9/15/29 | 14,197 | 13,383 | ||
Energy Transfer LP | 3.750% | 5/15/30 | 49,268 | 45,065 | ||
Energy Transfer LP | 6.400% | 12/1/30 | 17,439 | 18,246 | ||
Energy Transfer LP | 5.750% | 2/15/33 | 44,370 | 44,502 | ||
Energy Transfer LP | 6.550% | 12/1/33 | 36,223 | 38,238 | ||
Energy Transfer LP | 5.550% | 5/15/34 | 31,375 | 30,908 | ||
EnLink Midstream LLC | 5.375% | 6/1/29 | 12,895 | 12,568 | ||
Enterprise Products Operating LLC | 3.125% | 7/31/29 | 41,914 | 38,293 | ||
Enterprise Products Operating LLC | 2.800% | 1/31/30 | 22,285 | 19,815 | ||
Enterprise Products Operating LLC | 5.350% | 1/31/33 | 31,880 | 32,006 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
1 | Enterprise Products Operating LLC | 6.875% | 3/1/33 | 13,368 | 14,759 | |
Enterprise Products Operating LLC | 4.850% | 1/31/34 | 17,449 | 16,889 | ||
EOG Resources Inc. | 4.375% | 4/15/30 | 18,761 | 18,169 | ||
EQT Corp. | 7.000% | 2/1/30 | 17,476 | 18,489 | ||
EQT Corp. | 5.750% | 2/1/34 | 17,730 | 17,577 | ||
Exxon Mobil Corp. | 2.440% | 8/16/29 | 31,262 | 27,824 | ||
Exxon Mobil Corp. | 3.482% | 3/19/30 | 45,412 | 42,135 | ||
Exxon Mobil Corp. | 2.610% | 10/15/30 | 46,262 | 40,406 | ||
Halliburton Co. | 2.920% | 3/1/30 | 37,589 | 33,503 | ||
Helmerich & Payne Inc. | 2.900% | 9/29/31 | 13,860 | 11,501 | ||
Hess Corp. | 7.875% | 10/1/29 | 4,981 | 5,556 | ||
Hess Corp. | 7.300% | 8/15/31 | 19,469 | 21,695 | ||
Hess Corp. | 7.125% | 3/15/33 | 14,255 | 15,936 | ||
HF Sinclair Corp. | 4.500% | 10/1/30 | 6,913 | 6,431 | ||
Kinder Morgan Energy Partners LP | 7.400% | 3/15/31 | 4,068 | 4,472 | ||
Kinder Morgan Energy Partners LP | 7.300% | 8/15/33 | 7,245 | 8,045 | ||
Kinder Morgan Inc. | 2.000% | 2/15/31 | 27,664 | 22,539 | ||
1 | Kinder Morgan Inc. | 7.800% | 8/1/31 | 8,881 | 10,054 | |
1 | Kinder Morgan Inc. | 7.750% | 1/15/32 | 27,572 | 30,980 | |
Kinder Morgan Inc. | 4.800% | 2/1/33 | 20,083 | 18,899 | ||
Kinder Morgan Inc. | 5.200% | 6/1/33 | 46,613 | 45,011 | ||
Marathon Oil Corp. | 6.800% | 3/15/32 | 11,935 | 12,985 | ||
Marathon Oil Corp. | 5.700% | 4/1/34 | 15,450 | 15,721 | ||
MPLX LP | 2.650% | 8/15/30 | 31,597 | 27,001 | ||
MPLX LP | 4.950% | 9/1/32 | 25,431 | 24,201 | ||
MPLX LP | 5.000% | 3/1/33 | 27,062 | 25,719 | ||
MPLX LP | 5.500% | 6/1/34 | 10,000 | 9,782 | ||
NOV Inc. | 3.600% | 12/1/29 | 12,722 | 11,653 | ||
Occidental Petroleum Corp. | 8.875% | 7/15/30 | 22,294 | 25,585 | ||
Occidental Petroleum Corp. | 6.625% | 9/1/30 | 48,347 | 50,514 | ||
Occidental Petroleum Corp. | 6.125% | 1/1/31 | 26,384 | 26,963 | ||
Occidental Petroleum Corp. | 7.500% | 5/1/31 | 21,259 | 23,411 | ||
Occidental Petroleum Corp. | 7.875% | 9/15/31 | 8,839 | 9,906 | ||
ONEOK Inc. | 3.400% | 9/1/29 | 11,847 | 10,801 | ||
ONEOK Inc. | 3.100% | 3/15/30 | 27,074 | 24,005 | ||
ONEOK Inc. | 3.250% | 6/1/30 | 10,730 | 9,595 | ||
ONEOK Inc. | 5.800% | 11/1/30 | 10,575 | 10,770 | ||
ONEOK Inc. | 6.350% | 1/15/31 | 8,664 | 9,046 | ||
ONEOK Inc. | 6.100% | 11/15/32 | 18,141 | 18,686 | ||
ONEOK Inc. | 6.050% | 9/1/33 | 45,021 | 46,107 | ||
Ovintiv Inc. | 8.125% | 9/15/30 | 2,230 | 2,505 | ||
Ovintiv Inc. | 7.200% | 11/1/31 | 9,875 | 10,637 | ||
Ovintiv Inc. | 7.375% | 11/1/31 | 11,937 | 13,005 | ||
Ovintiv Inc. | 6.250% | 7/15/33 | 18,061 | 18,552 | ||
Patterson-UTI Energy Inc. | 5.150% | 11/15/29 | 4,276 | 4,166 | ||
Patterson-UTI Energy Inc. | 7.150% | 10/1/33 | 10,270 | 10,867 | ||
Phillips 66 | 2.150% | 12/15/30 | 20,142 | 16,649 | ||
Phillips 66 Co. | 3.150% | 12/15/29 | 13,505 | 12,139 | ||
Phillips 66 Co. | 5.250% | 6/15/31 | 11,005 | 10,905 | ||
Phillips 66 Co. | 5.300% | 6/30/33 | 26,524 | 26,079 | ||
Pioneer Natural Resources Co. | 1.900% | 8/15/30 | 43,810 | 36,611 | ||
Pioneer Natural Resources Co. | 2.150% | 1/15/31 | 31,543 | 26,478 | ||
Plains All American Pipeline LP | 3.550% | 12/15/29 | 29,023 | 26,384 | ||
Plains All American Pipeline LP | 3.800% | 9/15/30 | 19,865 | 18,087 | ||
Sabine Pass Liquefaction LLC | 4.500% | 5/15/30 | 50,173 | 47,913 | ||
Schlumberger Investment SA | 2.650% | 6/26/30 | 42,102 | 36,868 | ||
Schlumberger Investment SA | 4.850% | 5/15/33 | 7,791 | 7,627 | ||
Schlumberger Investment SA | 5.000% | 6/1/34 | 12,500 | 12,261 | ||
Shell International Finance BV | 2.375% | 11/7/29 | 37,910 | 33,311 | ||
Shell International Finance BV | 2.750% | 4/6/30 | 43,998 | 39,065 | ||
Suncor Energy Inc. | 7.150% | 2/1/32 | 13,728 | 14,985 | ||
Targa Resources Corp. | 4.200% | 2/1/33 | 18,757 | 16,839 | ||
Targa Resources Corp. | 6.125% | 3/15/33 | 20,261 | 20,791 | ||
Targa Resources Corp. | 6.500% | 3/30/34 | 21,513 | 22,709 | ||
Targa Resources Partners LP | 5.500% | 3/1/30 | 24,295 | 24,036 | ||
Targa Resources Partners LP | 4.875% | 2/1/31 | 28,503 | 27,094 | ||
Targa Resources Partners LP | 4.000% | 1/15/32 | 30,726 | 27,441 | ||
Texas Eastern Transmission LP | 7.000% | 7/15/32 | 6,285 | 6,845 | ||
TotalEnergies Capital International SA | 2.829% | 1/10/30 | 29,728 | 26,560 | ||
TotalEnergies Capital SA | 5.150% | 4/5/34 | 32,435 | 32,351 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
TransCanada PipeLines Ltd. | 4.100% | 4/15/30 | 37,514 | 35,198 | ||
TransCanada PipeLines Ltd. | 2.500% | 10/12/31 | 20,599 | 17,102 | ||
TransCanada PipeLines Ltd. | 4.625% | 3/1/34 | 32,803 | 30,463 | ||
TransCanada PipeLines Ltd. | 5.600% | 3/31/34 | 7,820 | 7,754 | ||
Transcontinental Gas Pipe Line Co. LLC | 3.250% | 5/15/30 | 22,264 | 19,929 | ||
Valero Energy Corp. | 2.800% | 12/1/31 | 16,648 | 14,041 | ||
Valero Energy Corp. | 7.500% | 4/15/32 | 12,543 | 14,173 | ||
Western Midstream Operating LP | 4.050% | 2/1/30 | 24,343 | 22,588 | ||
Western Midstream Operating LP | 6.150% | 4/1/33 | 19,475 | 19,799 | ||
Williams Cos. Inc. | 3.500% | 11/15/30 | 35,704 | 32,163 | ||
Williams Cos. Inc. | 2.600% | 3/15/31 | 38,571 | 32,450 | ||
Williams Cos. Inc. | 8.750% | 3/15/32 | 2,154 | 2,555 | ||
Williams Cos. Inc. | 4.650% | 8/15/32 | 22,953 | 21,754 | ||
Williams Cos. Inc. | 5.650% | 3/15/33 | 23,248 | 23,388 | ||
Williams Cos. Inc. | 5.150% | 3/15/34 | 31,200 | 30,288 | ||
3,127,392 | ||||||
Financials (31.3%) | ||||||
ACE Capital Trust II | 9.700% | 4/1/30 | 1,407 | 1,668 | ||
AerCap Ireland Capital DAC | 6.150% | 9/30/30 | 21,328 | 21,948 | ||
AerCap Ireland Capital DAC | 3.300% | 1/30/32 | 104,260 | 88,807 | ||
AerCap Ireland Capital DAC | 3.400% | 10/29/33 | 40,736 | 33,910 | ||
AerCap Ireland Capital DAC | 5.300% | 1/19/34 | 13,026 | 12,670 | ||
Affiliated Managers Group Inc. | 3.300% | 6/15/30 | 9,512 | 8,417 | ||
3 | Aflac Inc. | 3.600% | 4/1/30 | 25,744 | 23,738 | |
Air Lease Corp. | 3.250% | 10/1/29 | 12,842 | 11,548 | ||
1 | Air Lease Corp. | 3.000% | 2/1/30 | 10,996 | 9,687 | |
Air Lease Corp. | 3.125% | 12/1/30 | 19,152 | 16,658 | ||
1 | Air Lease Corp. | 2.875% | 1/15/32 | 19,081 | 15,924 | |
Alleghany Corp. | 3.625% | 5/15/30 | 12,581 | 11,669 | ||
Allstate Corp. | 1.450% | 12/15/30 | 20,786 | 16,438 | ||
Allstate Corp. | 5.250% | 3/30/33 | 23,660 | 23,485 | ||
Allstate Corp. | 5.350% | 6/1/33 | 6,367 | 6,354 | ||
1 | Ally Financial Inc. | 8.000% | 11/1/31 | 54,779 | 59,936 | |
Ally Financial Inc. | 8.000% | 11/1/31 | 8,161 | 8,957 | ||
American Express Co. | 6.489% | 10/30/31 | 25,760 | 27,427 | ||
American Express Co. | 4.989% | 5/26/33 | 18,211 | 17,504 | ||
American Express Co. | 4.420% | 8/3/33 | 34,139 | 32,101 | ||
American Express Co. | 5.043% | 5/1/34 | 29,120 | 28,465 | ||
American Express Co. | 5.625% | 7/28/34 | 9,855 | 9,806 | ||
American Express Co. | 5.915% | 4/25/35 | 12,210 | 12,350 | ||
American Financial Group Inc. | 5.250% | 4/2/30 | 7,944 | 7,816 | ||
American International Group Inc. | 4.250% | 3/15/29 | 4,441 | 4,249 | ||
American International Group Inc. | 3.400% | 6/30/30 | 6,273 | 5,675 | ||
American International Group Inc. | 5.125% | 3/27/33 | 21,006 | 20,626 | ||
Ameriprise Financial Inc. | 4.500% | 5/13/32 | 12,241 | 11,707 | ||
Ameriprise Financial Inc. | 5.150% | 5/15/33 | 20,199 | 20,133 | ||
Aon Corp. | 3.750% | 5/2/29 | 19,659 | 18,404 | ||
Aon Corp. | 2.800% | 5/15/30 | 27,890 | 24,313 | ||
Aon Corp. | 2.050% | 8/23/31 | 9,364 | 7,525 | ||
Aon Corp. | 2.600% | 12/2/31 | 9,596 | 7,987 | ||
Aon Corp. | 5.000% | 9/12/32 | 13,269 | 12,890 | ||
Aon Corp. | 5.350% | 2/28/33 | 27,035 | 26,648 | ||
Aon North America Inc. | 5.300% | 3/1/31 | 12,641 | 12,587 | ||
Aon North America Inc. | 5.450% | 3/1/34 | 43,511 | 43,123 | ||
Apollo Global Management Inc. | 6.375% | 11/15/33 | 12,654 | 13,442 | ||
Ares Capital Corp. | 5.950% | 7/15/29 | 21,600 | 21,326 | ||
Ares Capital Corp. | 3.200% | 11/15/31 | 17,038 | 14,114 | ||
2,4 | Ares Strategic Income Fund | 6.350% | 8/15/29 | 15,700 | 15,635 | |
Arthur J Gallagher & Co. | 2.400% | 11/9/31 | 10,825 | 8,773 | ||
Arthur J Gallagher & Co. | 5.500% | 3/2/33 | 10,840 | 10,797 | ||
Arthur J Gallagher & Co. | 6.500% | 2/15/34 | 9,630 | 10,182 | ||
Assurant Inc. | 4.900% | 3/27/28 | 1 | — | ||
Assurant Inc. | 3.700% | 2/22/30 | 6,887 | 6,169 | ||
Assured Guaranty US Holdings Inc. | 3.150% | 6/15/31 | 13,650 | 11,793 | ||
Athene Holding Ltd. | 6.150% | 4/3/30 | 10,861 | 11,204 | ||
Athene Holding Ltd. | 3.500% | 1/15/31 | 12,610 | 11,131 | ||
Athene Holding Ltd. | 6.650% | 2/1/33 | 9,522 | 10,026 | ||
Athene Holding Ltd. | 5.875% | 1/15/34 | 25,122 | 25,058 | ||
AXA SA | 8.600% | 12/15/30 | 23,496 | 27,394 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
AXIS Specialty Finance LLC | 3.900% | 7/15/29 | 12,186 | 11,473 | ||
1 | AXIS Specialty Finance LLC | 4.900% | 1/15/40 | 2,859 | 2,600 | |
Banco Bilbao Vizcaya Argentaria SA | 7.883% | 11/15/34 | 19,785 | 21,767 | ||
Banco Bilbao Vizcaya Argentaria SA | 6.033% | 3/13/35 | 21,905 | 21,898 | ||
Banco Santander SA | 3.306% | 6/27/29 | 34,768 | 31,639 | ||
Banco Santander SA | 3.490% | 5/28/30 | 26,895 | 23,961 | ||
Banco Santander SA | 2.749% | 12/3/30 | 50,743 | 42,177 | ||
Banco Santander SA | 2.958% | 3/25/31 | 12,220 | 10,408 | ||
Banco Santander SA | 3.225% | 11/22/32 | 9,027 | 7,514 | ||
Banco Santander SA | 6.921% | 8/8/33 | 46,840 | 49,268 | ||
Banco Santander SA | 6.938% | 11/7/33 | 40,788 | 44,386 | ||
Banco Santander SA | 6.350% | 3/14/34 | 36,858 | 37,127 | ||
1 | Bank of America Corp. | 3.419% | 12/20/28 | 1 | 1 | |
1 | Bank of America Corp. | 3.194% | 7/23/30 | 56,611 | 51,063 | |
1 | Bank of America Corp. | 2.884% | 10/22/30 | 50,693 | 44,751 | |
1 | Bank of America Corp. | 2.496% | 2/13/31 | 87,347 | 74,869 | |
1 | Bank of America Corp. | 2.592% | 4/29/31 | 78,771 | 67,500 | |
1 | Bank of America Corp. | 1.898% | 7/23/31 | 65,133 | 53,158 | |
1 | Bank of America Corp. | 1.922% | 10/24/31 | 70,202 | 56,904 | |
1 | Bank of America Corp. | 2.651% | 3/11/32 | 56,963 | 47,867 | |
Bank of America Corp. | 2.687% | 4/22/32 | 102,485 | 86,093 | ||
Bank of America Corp. | 2.299% | 7/21/32 | 83,515 | 67,959 | ||
Bank of America Corp. | 2.572% | 10/20/32 | 75,209 | 62,038 | ||
1 | Bank of America Corp. | 2.972% | 2/4/33 | 97,014 | 81,792 | |
Bank of America Corp. | 4.571% | 4/27/33 | 99,794 | 93,736 | ||
1 | Bank of America Corp. | 5.015% | 7/22/33 | 124,734 | 121,473 | |
Bank of America Corp. | 5.288% | 4/25/34 | 131,413 | 129,364 | ||
Bank of America Corp. | 5.872% | 9/15/34 | 102,368 | 104,766 | ||
Bank of America Corp. | 5.468% | 1/23/35 | 128,485 | 127,713 | ||
Bank of America Corp. | 2.482% | 9/21/36 | 62,061 | 49,617 | ||
Bank of America Corp. | 3.846% | 3/8/37 | 41,234 | 36,155 | ||
4 | Bank of Montreal | 5.511% | 6/4/31 | 18,800 | 18,881 | |
Bank of Montreal | 3.088% | 1/10/37 | 33,380 | 27,038 | ||
1 | Bank of New York Mellon Corp. | 3.300% | 8/23/29 | 24,597 | 22,395 | |
Bank of New York Mellon Corp. | 4.596% | 7/26/30 | 19,665 | 19,107 | ||
1 | Bank of New York Mellon Corp. | 1.650% | 1/28/31 | 4,381 | 3,535 | |
1 | Bank of New York Mellon Corp. | 1.800% | 7/28/31 | 16,864 | 13,553 | |
Bank of New York Mellon Corp. | 2.500% | 1/26/32 | 5,426 | 4,507 | ||
1 | Bank of New York Mellon Corp. | 4.289% | 6/13/33 | 27,383 | 25,573 | |
1 | Bank of New York Mellon Corp. | 5.834% | 10/25/33 | 41,944 | 43,276 | |
Bank of New York Mellon Corp. | 4.706% | 2/1/34 | 19,780 | 18,869 | ||
1 | Bank of New York Mellon Corp. | 4.967% | 4/26/34 | 19,682 | 19,113 | |
1 | Bank of New York Mellon Corp. | 6.474% | 10/25/34 | 18,291 | 19,703 | |
1 | Bank of New York Mellon Corp. | 5.188% | 3/14/35 | 25,800 | 25,341 | |
4 | Bank of Nova Scotia | 5.450% | 8/1/29 | 6,250 | 6,274 | |
Bank of Nova Scotia | 4.850% | 2/1/30 | 34,189 | 33,499 | ||
Bank of Nova Scotia | 2.150% | 8/1/31 | 17,417 | 14,176 | ||
Bank of Nova Scotia | 2.450% | 2/2/32 | 22,371 | 18,323 | ||
Bank of Nova Scotia | 5.650% | 2/1/34 | 20,002 | 20,234 | ||
Bank of Nova Scotia | 4.588% | 5/4/37 | 30,565 | 27,406 | ||
BankUnited Inc. | 5.125% | 6/11/30 | 7,721 | 6,960 | ||
1 | Barclays plc | 5.088% | 6/20/30 | 41,467 | 39,839 | |
Barclays plc | 2.645% | 6/24/31 | 6,945 | 5,852 | ||
Barclays plc | 2.667% | 3/10/32 | 22,018 | 18,233 | ||
Barclays plc | 2.894% | 11/24/32 | 21,052 | 17,379 | ||
Barclays plc | 5.746% | 8/9/33 | 33,259 | 33,166 | ||
Barclays plc | 7.437% | 11/2/33 | 57,069 | 62,750 | ||
Barclays plc | 6.224% | 5/9/34 | 55,454 | 56,768 | ||
Barclays plc | 7.119% | 6/27/34 | 44,687 | 47,331 | ||
Barclays plc | 6.692% | 9/13/34 | 41,446 | 43,932 | ||
Barclays plc | 3.564% | 9/23/35 | 9,634 | 8,281 | ||
Berkshire Hathaway Finance Corp. | 1.850% | 3/12/30 | 12,483 | 10,598 | ||
Berkshire Hathaway Finance Corp. | 1.450% | 10/15/30 | 21,847 | 17,783 | ||
Berkshire Hathaway Finance Corp. | 2.875% | 3/15/32 | 25,224 | 21,914 | ||
BlackRock Funding Inc. | 5.000% | 3/14/34 | 25,515 | 25,191 | ||
BlackRock Inc. | 2.400% | 4/30/30 | 25,368 | 22,071 | ||
BlackRock Inc. | 1.900% | 1/28/31 | 38,032 | 31,371 | ||
BlackRock Inc. | 2.100% | 2/25/32 | 25,890 | 21,056 | ||
BlackRock Inc. | 4.750% | 5/25/33 | 22,867 | 22,314 | ||
2 | Blackstone Private Credit Fund | 5.950% | 7/16/29 | 10,270 | 10,109 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
2 | Blackstone Private Credit Fund | 6.250% | 1/25/31 | 14,446 | 14,443 | |
2 | Blue Owl Credit Income Corp. | 6.600% | 9/15/29 | 12,435 | 12,366 | |
Blue Owl Credit Income Corp. | 6.650% | 3/15/31 | 19,491 | 19,273 | ||
2 | Blue Owl Finance LLC | 6.250% | 4/18/34 | 25,050 | 25,218 | |
Brighthouse Financial Inc. | 5.625% | 5/15/30 | 13,141 | 13,146 | ||
Brookfield Capital Finance LLC | 6.087% | 6/14/33 | 13,560 | 13,887 | ||
Brookfield Finance I UK plc | 2.340% | 1/30/32 | 15,319 | 12,264 | ||
Brookfield Finance Inc. | 4.350% | 4/15/30 | 18,210 | 17,251 | ||
Brookfield Finance Inc. | 2.724% | 4/15/31 | 7,465 | 6,308 | ||
Brookfield Finance Inc. | 6.350% | 1/5/34 | 17,090 | 17,914 | ||
Brown & Brown Inc. | 2.375% | 3/15/31 | 19,176 | 15,690 | ||
Brown & Brown Inc. | 4.200% | 3/17/32 | 16,827 | 15,162 | ||
Canadian Imperial Bank of Commerce | 3.600% | 4/7/32 | 27,228 | 24,025 | ||
Canadian Imperial Bank of Commerce | 6.092% | 10/3/33 | 28,648 | 29,577 | ||
Capital One Financial Corp. | 5.247% | 7/26/30 | 5,060 | 4,942 | ||
1 | Capital One Financial Corp. | 7.624% | 10/30/31 | 36,457 | 39,866 | |
Capital One Financial Corp. | 2.359% | 7/29/32 | 27,530 | 21,451 | ||
Capital One Financial Corp. | 2.618% | 11/2/32 | 17,392 | 14,051 | ||
Capital One Financial Corp. | 5.268% | 5/10/33 | 40,316 | 38,792 | ||
Capital One Financial Corp. | 5.817% | 2/1/34 | 31,142 | 30,719 | ||
Capital One Financial Corp. | 6.377% | 6/8/34 | 60,360 | 61,834 | ||
Capital One Financial Corp. | 6.051% | 2/1/35 | 15,155 | 15,217 | ||
Cboe Global Markets Inc. | 1.625% | 12/15/30 | 13,845 | 11,185 | ||
Cboe Global Markets Inc. | 3.000% | 3/16/32 | 7,753 | 6,637 | ||
Charles Schwab Corp. | 2.750% | 10/1/29 | 10,147 | 9,076 | ||
Charles Schwab Corp. | 4.625% | 3/22/30 | 14,883 | 14,644 | ||
Charles Schwab Corp. | 1.650% | 3/11/31 | 19,467 | 15,518 | ||
Charles Schwab Corp. | 2.300% | 5/13/31 | 27,851 | 23,233 | ||
Charles Schwab Corp. | 1.950% | 12/1/31 | 15,763 | 12,563 | ||
Charles Schwab Corp. | 2.900% | 3/3/32 | 13,109 | 11,137 | ||
Charles Schwab Corp. | 5.853% | 5/19/34 | 35,539 | 36,092 | ||
Charles Schwab Corp. | 6.136% | 8/24/34 | 31,585 | 32,679 | ||
Chubb INA Holdings LLC | 1.375% | 9/15/30 | 31,295 | 25,358 | ||
Chubb INA Holdings LLC | 5.000% | 3/15/34 | 27,280 | 26,901 | ||
CI Financial Corp. | 3.200% | 12/17/30 | 22,356 | 17,505 | ||
1 | Citibank NA | 5.570% | 4/30/34 | 52,285 | 53,026 | |
1 | Citigroup Inc. | 2.976% | 11/5/30 | 57,419 | 50,890 | |
1 | Citigroup Inc. | 2.666% | 1/29/31 | 54,658 | 47,349 | |
1 | Citigroup Inc. | 4.412% | 3/31/31 | 120,103 | 114,065 | |
1 | Citigroup Inc. | 2.572% | 6/3/31 | 84,002 | 71,627 | |
Citigroup Inc. | 2.561% | 5/1/32 | 67,288 | 55,948 | ||
Citigroup Inc. | 6.625% | 6/15/32 | 26,534 | 28,252 | ||
Citigroup Inc. | 2.520% | 11/3/32 | 20,781 | 17,041 | ||
Citigroup Inc. | 3.057% | 1/25/33 | 87,451 | 73,936 | ||
Citigroup Inc. | 3.785% | 3/17/33 | 87,261 | 77,554 | ||
Citigroup Inc. | 4.910% | 5/24/33 | 43,697 | 41,891 | ||
Citigroup Inc. | 6.000% | 10/31/33 | 9,102 | 9,378 | ||
Citigroup Inc. | 6.270% | 11/17/33 | 70,257 | 73,716 | ||
Citigroup Inc. | 6.174% | 5/25/34 | 96,364 | 97,822 | ||
Citigroup Inc. | 5.827% | 2/13/35 | 58,050 | 57,289 | ||
Citizens Financial Group Inc. | 2.500% | 2/6/30 | 2,392 | 2,016 | ||
Citizens Financial Group Inc. | 3.250% | 4/30/30 | 12,998 | 11,350 | ||
Citizens Financial Group Inc. | 2.638% | 9/30/32 | 15,540 | 11,818 | ||
Citizens Financial Group Inc. | 6.645% | 4/25/35 | 18,995 | 19,480 | ||
Citizens Financial Group Inc. | 5.641% | 5/21/37 | 9,996 | 9,241 | ||
CME Group Inc. | 2.650% | 3/15/32 | 18,999 | 16,209 | ||
CNA Financial Corp. | 2.050% | 8/15/30 | 2,142 | 1,771 | ||
CNA Financial Corp. | 5.500% | 6/15/33 | 12,858 | 12,730 | ||
CNA Financial Corp. | 5.125% | 2/15/34 | 13,165 | 12,604 | ||
CNO Financial Group Inc. | 6.450% | 6/15/34 | 4,420 | 4,432 | ||
Comerica Bank | 5.332% | 8/25/33 | 12,959 | 11,547 | ||
Corebridge Financial Inc. | 3.900% | 4/5/32 | 34,006 | 30,366 | ||
2 | Corebridge Financial Inc. | 6.050% | 9/15/33 | 11,842 | 12,110 | |
Corebridge Financial Inc. | 5.750% | 1/15/34 | 18,880 | 18,980 | ||
Credit Suisse USA LLC | 7.125% | 7/15/32 | 30,429 | 33,538 | ||
Deutsche Bank AG | 5.882% | 7/8/31 | 1,774 | 1,735 | ||
1 | Deutsche Bank AG | 3.547% | 9/18/31 | 41,499 | 36,521 | |
Deutsche Bank AG | 3.729% | 1/14/32 | 33,400 | 28,163 | ||
Deutsche Bank AG | 3.035% | 5/28/32 | 23,859 | 19,996 | ||
Deutsche Bank AG | 3.742% | 1/7/33 | 30,214 | 24,970 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Deutsche Bank AG | 7.079% | 2/10/34 | 38,656 | 39,652 | ||
1 | Discover Bank | 2.700% | 2/6/30 | 9,983 | 8,496 | |
Discover Financial Services | 6.700% | 11/29/32 | 24,706 | 25,829 | ||
Discover Financial Services | 7.964% | 11/2/34 | 25,756 | 28,964 | ||
Enstar Group Ltd. | 4.950% | 6/1/29 | 15,760 | 15,049 | ||
Enstar Group Ltd. | 3.100% | 9/1/31 | 17,465 | 14,149 | ||
Equitable Holdings Inc. | 5.594% | 1/11/33 | 13,790 | 13,834 | ||
Fairfax Financial Holdings Ltd. | 4.625% | 4/29/30 | 6,591 | 6,234 | ||
Fairfax Financial Holdings Ltd. | 3.375% | 3/3/31 | 15,108 | 13,048 | ||
Fairfax Financial Holdings Ltd. | 5.625% | 8/16/32 | 22,347 | 21,894 | ||
2 | Fairfax Financial Holdings Ltd. | 6.000% | 12/7/33 | 14,991 | 15,102 | |
Fidelity National Financial Inc. | 4.500% | 8/15/28 | 1,973 | 1,893 | ||
Fidelity National Financial Inc. | 3.400% | 6/15/30 | 12,101 | 10,699 | ||
Fidelity National Financial Inc. | 2.450% | 3/15/31 | 15,276 | 12,371 | ||
Fifth Third Bancorp | 4.772% | 7/28/30 | 24,962 | 23,983 | ||
Fifth Third Bancorp | 5.631% | 1/29/32 | 24,063 | 23,830 | ||
Fifth Third Bancorp | 4.337% | 4/25/33 | 15,944 | 14,508 | ||
First American Financial Corp. | 4.000% | 5/15/30 | 8,673 | 7,752 | ||
First American Financial Corp. | 2.400% | 8/15/31 | 16,724 | 13,185 | ||
1 | First Horizon Bank | 5.750% | 5/1/30 | 9,560 | 9,072 | |
2 | Franklin BSP Capital Corp. | 7.200% | 6/15/29 | 4,200 | 4,189 | |
Franklin Resources Inc. | 1.600% | 10/30/30 | 22,623 | 18,197 | ||
FS KKR Capital Corp. | 3.250% | 7/15/27 | 1 | 1 | ||
4 | FS KKR Capital Corp. | 6.875% | 8/15/29 | 8,550 | 8,471 | |
GATX Corp. | 4.000% | 6/30/30 | 9,277 | 8,569 | ||
GATX Corp. | 1.900% | 6/1/31 | 9,990 | 7,899 | ||
GATX Corp. | 3.500% | 6/1/32 | 8,958 | 7,737 | ||
GATX Corp. | 4.900% | 3/15/33 | 9,272 | 8,857 | ||
GATX Corp. | 5.450% | 9/15/33 | 13,898 | 13,633 | ||
GATX Corp. | 6.050% | 3/15/34 | 1,470 | 1,494 | ||
GATX Corp. | 6.900% | 5/1/34 | 5,450 | 5,894 | ||
Global Payments Inc. | 3.200% | 8/15/29 | 38,693 | 34,550 | ||
Global Payments Inc. | 5.300% | 8/15/29 | 12,120 | 11,970 | ||
Global Payments Inc. | 2.900% | 5/15/30 | 24,237 | 20,975 | ||
Global Payments Inc. | 2.900% | 11/15/31 | 18,511 | 15,424 | ||
Global Payments Inc. | 5.400% | 8/15/32 | 20,550 | 20,163 | ||
Globe Life Inc. | 2.150% | 8/15/30 | 8,351 | 6,664 | ||
Globe Life Inc. | 4.800% | 6/15/32 | 10,447 | 9,680 | ||
Goldman Sachs Capital I | 6.345% | 2/15/34 | 14,611 | 15,051 | ||
Goldman Sachs Group Inc. | 2.600% | 2/7/30 | 43,120 | 37,556 | ||
Goldman Sachs Group Inc. | 3.800% | 3/15/30 | 65,803 | 61,107 | ||
Goldman Sachs Group Inc. | 1.992% | 1/27/32 | 53,653 | 43,252 | ||
Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 88,841 | 74,163 | ||
Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 97,308 | 79,405 | ||
Goldman Sachs Group Inc. | 2.650% | 10/21/32 | 74,574 | 61,726 | ||
Goldman Sachs Group Inc. | 6.125% | 2/15/33 | 37,748 | 39,852 | ||
Goldman Sachs Group Inc. | 3.102% | 2/24/33 | 105,458 | 89,572 | ||
Goldman Sachs Group Inc. | 6.561% | 10/24/34 | 34,451 | 36,938 | ||
Goldman Sachs Group Inc. | 5.851% | 4/25/35 | 62,721 | 64,047 | ||
Golub Capital BDC Inc. | 6.000% | 7/15/29 | 17,014 | 16,672 | ||
Hanover Insurance Group Inc. | 2.500% | 9/1/30 | 8,575 | 7,152 | ||
Hartford Financial Services Group Inc. | 2.800% | 8/19/29 | 15,682 | 13,929 | ||
HSBC Holdings plc | 4.950% | 3/31/30 | 67,682 | 66,318 | ||
1 | HSBC Holdings plc | 3.973% | 5/22/30 | 42,316 | 39,394 | |
1 | HSBC Holdings plc | 2.848% | 6/4/31 | 23,290 | 20,012 | |
1 | HSBC Holdings plc | 2.357% | 8/18/31 | 29,613 | 24,561 | |
HSBC Holdings plc | 5.733% | 5/17/32 | 26,428 | 26,521 | ||
HSBC Holdings plc | 2.804% | 5/24/32 | 74,734 | 62,631 | ||
HSBC Holdings plc | 2.871% | 11/22/32 | 43,365 | 36,106 | ||
HSBC Holdings plc | 4.762% | 3/29/33 | 52,386 | 48,403 | ||
HSBC Holdings plc | 5.402% | 8/11/33 | 64,407 | 63,594 | ||
HSBC Holdings plc | 8.113% | 11/3/33 | 57,949 | 65,609 | ||
HSBC Holdings plc | 6.254% | 3/9/34 | 70,451 | 73,429 | ||
HSBC Holdings plc | 6.547% | 6/20/34 | 39,777 | 41,078 | ||
HSBC Holdings plc | 7.399% | 11/13/34 | 51,064 | 55,425 | ||
HSBC Holdings plc | 5.719% | 3/4/35 | 30,535 | 30,686 | ||
Huntington Bancshares Inc. | 2.550% | 2/4/30 | 15,938 | 13,515 | ||
Huntington Bancshares Inc. | 5.023% | 5/17/33 | 15,969 | 15,053 | ||
Huntington Bancshares Inc. | 5.709% | 2/2/35 | 29,505 | 28,971 | ||
Huntington Bancshares Inc. | 2.487% | 8/15/36 | 7,777 | 5,870 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Huntington National Bank | 5.650% | 1/10/30 | 22,622 | 22,629 | ||
ING Groep NV | 2.727% | 4/1/32 | 18,859 | 15,887 | ||
ING Groep NV | 4.252% | 3/28/33 | 20,887 | 19,256 | ||
ING Groep NV | 6.114% | 9/11/34 | 21,011 | 21,668 | ||
ING Groep NV | 5.550% | 3/19/35 | 42,640 | 42,207 | ||
Intercontinental Exchange Inc. | 4.350% | 6/15/29 | 31,881 | 30,790 | ||
Intercontinental Exchange Inc. | 2.100% | 6/15/30 | 32,378 | 27,252 | ||
Intercontinental Exchange Inc. | 1.850% | 9/15/32 | 38,836 | 29,973 | ||
Intercontinental Exchange Inc. | 4.600% | 3/15/33 | 38,850 | 36,964 | ||
Jackson Financial Inc. | 3.125% | 11/23/31 | 9,984 | 8,279 | ||
Jackson Financial Inc. | 5.670% | 6/8/32 | 5,484 | 5,479 | ||
Jefferies Financial Group Inc. | 4.150% | 1/23/30 | 25,222 | 23,263 | ||
Jefferies Financial Group Inc. | 2.625% | 10/15/31 | 25,952 | 20,924 | ||
Jefferies Financial Group Inc. | 2.750% | 10/15/32 | 11,353 | 8,990 | ||
Jefferies Financial Group Inc. | 6.200% | 4/14/34 | 38,372 | 38,517 | ||
JPMorgan Chase & Co. | 3.875% | 9/10/24 | 1 | 1 | ||
JPMorgan Chase & Co. | 1.040% | 2/4/27 | 82 | 76 | ||
JPMorgan Chase & Co. | 4.565% | 6/14/30 | 57,076 | 55,165 | ||
1 | JPMorgan Chase & Co. | 2.739% | 10/15/30 | 96,474 | 84,841 | |
1 | JPMorgan Chase & Co. | 4.493% | 3/24/31 | 81,762 | 78,496 | |
1 | JPMorgan Chase & Co. | 2.522% | 4/22/31 | 54,324 | 46,652 | |
1 | JPMorgan Chase & Co. | 2.956% | 5/13/31 | 77,048 | 66,929 | |
JPMorgan Chase & Co. | 1.764% | 11/19/31 | 36,704 | 29,598 | ||
JPMorgan Chase & Co. | 1.953% | 2/4/32 | 76,852 | 62,160 | ||
JPMorgan Chase & Co. | 2.580% | 4/22/32 | 99,236 | 83,340 | ||
JPMorgan Chase & Co. | 2.545% | 11/8/32 | 74,111 | 61,247 | ||
JPMorgan Chase & Co. | 2.963% | 1/25/33 | 92,783 | 78,604 | ||
JPMorgan Chase & Co. | 4.586% | 4/26/33 | 55,403 | 52,408 | ||
JPMorgan Chase & Co. | 4.912% | 7/25/33 | 118,128 | 114,429 | ||
JPMorgan Chase & Co. | 5.717% | 9/14/33 | 87,580 | 88,522 | ||
JPMorgan Chase & Co. | 5.350% | 6/1/34 | 98,651 | 97,959 | ||
JPMorgan Chase & Co. | 6.254% | 10/23/34 | 74,209 | 78,312 | ||
JPMorgan Chase & Co. | 5.336% | 1/23/35 | 83,221 | 82,310 | ||
JPMorgan Chase & Co. | 5.766% | 4/22/35 | 74,655 | 76,276 | ||
Kemper Corp. | 2.400% | 9/30/30 | 8,340 | 6,724 | ||
Kemper Corp. | 3.800% | 2/23/32 | 10,450 | 8,823 | ||
1 | KeyBank NA | 4.900% | 8/8/32 | 17,759 | 15,684 | |
KeyBank NA | 5.000% | 1/26/33 | 25,083 | 22,997 | ||
1 | KeyCorp | 2.550% | 10/1/29 | 16,664 | 14,061 | |
1 | KeyCorp | 4.789% | 6/1/33 | 17,206 | 15,631 | |
KeyCorp | 6.401% | 3/6/35 | 25,438 | 25,601 | ||
Lazard Group LLC | 6.000% | 3/15/31 | 12,370 | 12,490 | ||
Lincoln National Corp. | 3.050% | 1/15/30 | 4,384 | 3,872 | ||
Lincoln National Corp. | 3.400% | 1/15/31 | 10,854 | 9,525 | ||
Lincoln National Corp. | 3.400% | 3/1/32 | 3,781 | 3,272 | ||
Lincoln National Corp. | 5.852% | 3/15/34 | 6,910 | 6,872 | ||
4 | Lloyds Banking Group plc | 5.721% | 6/5/30 | 9,000 | 9,053 | |
Lloyds Banking Group plc | 4.976% | 8/11/33 | 30,851 | 29,499 | ||
Lloyds Banking Group plc | 7.953% | 11/15/33 | 24,962 | 27,940 | ||
Lloyds Banking Group plc | 5.679% | 1/5/35 | 47,685 | 47,512 | ||
Loews Corp. | 3.200% | 5/15/30 | 13,200 | 11,863 | ||
LPL Holdings Inc. | 6.000% | 5/20/34 | 12,400 | 12,434 | ||
M&T Bank Corp. | 6.082% | 3/13/32 | 22,505 | 22,304 | ||
M&T Bank Corp. | 5.053% | 1/27/34 | 21,782 | 20,040 | ||
Manulife Financial Corp. | 3.703% | 3/16/32 | 19,672 | 17,853 | ||
Markel Group Inc. | 3.350% | 9/17/29 | 8,708 | 7,900 | ||
Marsh & McLennan Cos. Inc. | 2.250% | 11/15/30 | 18,654 | 15,755 | ||
Marsh & McLennan Cos. Inc. | 2.375% | 12/15/31 | 11,398 | 9,399 | ||
Marsh & McLennan Cos. Inc. | 5.750% | 11/1/32 | 10,449 | 10,833 | ||
Marsh & McLennan Cos. Inc. | 5.400% | 9/15/33 | 20,021 | 20,240 | ||
Marsh & McLennan Cos. Inc. | 5.150% | 3/15/34 | 15,872 | 15,781 | ||
Mastercard Inc. | 2.950% | 6/1/29 | 29,424 | 26,883 | ||
Mastercard Inc. | 3.350% | 3/26/30 | 40,134 | 36,872 | ||
Mastercard Inc. | 1.900% | 3/15/31 | 14,871 | 12,341 | ||
Mastercard Inc. | 2.000% | 11/18/31 | 23,114 | 18,910 | ||
Mastercard Inc. | 4.850% | 3/9/33 | 12,755 | 12,641 | ||
Mastercard Inc. | 4.875% | 5/9/34 | 14,810 | 14,604 | ||
MetLife Inc. | 4.550% | 3/23/30 | 26,031 | 25,441 | ||
MetLife Inc. | 6.500% | 12/15/32 | 8,152 | 8,865 | ||
MetLife Inc. | 5.375% | 7/15/33 | 22,596 | 22,730 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Mitsubishi UFJ Financial Group Inc. | 3.195% | 7/18/29 | 53,947 | 48,926 | ||
Mitsubishi UFJ Financial Group Inc. | 2.559% | 2/25/30 | 29,921 | 25,866 | ||
Mitsubishi UFJ Financial Group Inc. | 2.048% | 7/17/30 | 35,359 | 29,342 | ||
Mitsubishi UFJ Financial Group Inc. | 5.475% | 2/22/31 | 2,450 | 2,460 | ||
Mitsubishi UFJ Financial Group Inc. | 2.309% | 7/20/32 | 50,022 | 40,946 | ||
Mitsubishi UFJ Financial Group Inc. | 2.494% | 10/13/32 | 13,514 | 11,136 | ||
Mitsubishi UFJ Financial Group Inc. | 2.852% | 1/19/33 | 25,034 | 21,082 | ||
Mitsubishi UFJ Financial Group Inc. | 4.315% | 4/19/33 | 17,250 | 16,068 | ||
Mitsubishi UFJ Financial Group Inc. | 5.133% | 7/20/33 | 40,233 | 39,564 | ||
Mitsubishi UFJ Financial Group Inc. | 5.472% | 9/13/33 | 20,031 | 20,139 | ||
Mitsubishi UFJ Financial Group Inc. | 5.441% | 2/22/34 | 29,226 | 29,387 | ||
Mitsubishi UFJ Financial Group Inc. | 5.406% | 4/19/34 | 25,109 | 25,210 | ||
Mitsubishi UFJ Financial Group Inc. | 5.426% | 4/17/35 | 34,724 | 34,543 | ||
Mizuho Financial Group Inc. | 3.261% | 5/22/30 | 1,400 | 1,268 | ||
1 | Mizuho Financial Group Inc. | 3.153% | 7/16/30 | 24,525 | 21,996 | |
1 | Mizuho Financial Group Inc. | 2.869% | 9/13/30 | 14,490 | 12,751 | |
1 | Mizuho Financial Group Inc. | 2.591% | 5/25/31 | 3,696 | 3,144 | |
Mizuho Financial Group Inc. | 5.739% | 5/27/31 | 22,662 | 22,914 | ||
1 | Mizuho Financial Group Inc. | 2.201% | 7/10/31 | 14,780 | 12,233 | |
1 | Mizuho Financial Group Inc. | 1.979% | 9/8/31 | 20,718 | 16,815 | |
Mizuho Financial Group Inc. | 2.564% | 9/13/31 | 28,620 | 23,258 | ||
Mizuho Financial Group Inc. | 2.172% | 5/22/32 | 10,537 | 8,491 | ||
Mizuho Financial Group Inc. | 2.260% | 7/9/32 | 11,888 | 9,605 | ||
Mizuho Financial Group Inc. | 5.669% | 9/13/33 | 30,273 | 30,486 | ||
Mizuho Financial Group Inc. | 5.754% | 5/27/34 | 19,924 | 20,180 | ||
Mizuho Financial Group Inc. | 5.748% | 7/6/34 | 38,645 | 39,177 | ||
Morgan Stanley | 1.593% | 5/4/27 | 11 | 10 | ||
1 | Morgan Stanley | 2.699% | 1/22/31 | 89,813 | 78,131 | |
1 | Morgan Stanley | 3.622% | 4/1/31 | 72,733 | 66,403 | |
1 | Morgan Stanley | 1.794% | 2/13/32 | 48,129 | 38,328 | |
Morgan Stanley | 7.250% | 4/1/32 | 51,789 | 58,552 | ||
1 | Morgan Stanley | 1.928% | 4/28/32 | 51,713 | 41,281 | |
1 | Morgan Stanley | 2.239% | 7/21/32 | 88,315 | 71,606 | |
1 | Morgan Stanley | 2.511% | 10/20/32 | 60,900 | 50,039 | |
Morgan Stanley | 2.943% | 1/21/33 | 51,265 | 43,200 | ||
Morgan Stanley | 4.889% | 7/20/33 | 52,156 | 49,978 | ||
Morgan Stanley | 6.342% | 10/18/33 | 84,826 | 89,691 | ||
1 | Morgan Stanley | 5.250% | 4/21/34 | 96,676 | 94,542 | |
1 | Morgan Stanley | 5.424% | 7/21/34 | 67,651 | 66,958 | |
Morgan Stanley | 6.627% | 11/1/34 | 39,476 | 42,474 | ||
Morgan Stanley | 5.466% | 1/18/35 | 60,185 | 59,765 | ||
Morgan Stanley | 5.831% | 4/19/35 | 78,120 | 79,686 | ||
Morgan Stanley | 2.484% | 9/16/36 | 85,583 | 67,446 | ||
Morgan Stanley | 5.297% | 4/20/37 | 47,150 | 44,999 | ||
Morgan Stanley | 5.948% | 1/19/38 | 56,323 | 55,921 | ||
Morgan Stanley | 5.942% | 2/7/39 | 30,715 | 30,374 | ||
Nasdaq Inc. | 1.650% | 1/15/31 | 14,641 | 11,682 | ||
Nasdaq Inc. | 5.550% | 2/15/34 | 33,519 | 33,474 | ||
1 | NatWest Group plc | 4.445% | 5/8/30 | 39,487 | 37,560 | |
NatWest Group plc | 6.016% | 3/2/34 | 21,429 | 21,900 | ||
NatWest Group plc | 6.475% | 6/1/34 | 12,000 | 12,206 | ||
NatWest Group plc | 5.778% | 3/1/35 | 36,275 | 36,325 | ||
1 | NatWest Group plc | 3.032% | 11/28/35 | 18,286 | 15,348 | |
NMI Holdings Inc. | 6.000% | 8/15/29 | 4,681 | 4,637 | ||
Nomura Holdings Inc. | 5.605% | 7/6/29 | 13,770 | 13,795 | ||
Nomura Holdings Inc. | 3.103% | 1/16/30 | 42,628 | 37,469 | ||
Nomura Holdings Inc. | 2.679% | 7/16/30 | 21,013 | 17,816 | ||
Nomura Holdings Inc. | 2.608% | 7/14/31 | 28,044 | 23,007 | ||
Nomura Holdings Inc. | 2.999% | 1/22/32 | 29,256 | 24,390 | ||
Nomura Holdings Inc. | 6.181% | 1/18/33 | 15,871 | 16,546 | ||
Nomura Holdings Inc. | 6.087% | 7/12/33 | 7,787 | 8,095 | ||
Northern Trust Corp. | 1.950% | 5/1/30 | 23,161 | 19,516 | ||
Northern Trust Corp. | 6.125% | 11/2/32 | 25,137 | 26,080 | ||
Old Republic International Corp. | 5.750% | 3/28/34 | 10,400 | 10,349 | ||
ORIX Corp. | 3.700% | 7/18/27 | 1 | 1 | ||
ORIX Corp. | 2.250% | 3/9/31 | 13,616 | 11,343 | ||
ORIX Corp. | 4.000% | 4/13/32 | 13,263 | 12,191 | ||
ORIX Corp. | 5.200% | 9/13/32 | 12,790 | 12,776 | ||
PartnerRe Finance B LLC | 3.700% | 7/2/29 | 12,060 | 11,224 | ||
PartnerRe Finance B LLC | 4.500% | 10/1/50 | 9,039 | 8,188 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
PayPal Holdings Inc. | 2.850% | 10/1/29 | 37,688 | 33,822 | ||
PayPal Holdings Inc. | 2.300% | 6/1/30 | 19,500 | 16,694 | ||
PayPal Holdings Inc. | 4.400% | 6/1/32 | 26,647 | 25,338 | ||
PayPal Holdings Inc. | 5.150% | 6/1/34 | 24,700 | 24,299 | ||
1 | PNC Bank NA | 2.700% | 10/22/29 | 17,965 | 15,595 | |
PNC Financial Services Group Inc. | 2.550% | 1/22/30 | 39,326 | 34,157 | ||
PNC Financial Services Group Inc. | 2.307% | 4/23/32 | 22,944 | 18,902 | ||
PNC Financial Services Group Inc. | 4.626% | 6/6/33 | 23,647 | 21,895 | ||
PNC Financial Services Group Inc. | 6.037% | 10/28/33 | 29,928 | 30,718 | ||
PNC Financial Services Group Inc. | 5.068% | 1/24/34 | 43,649 | 41,910 | ||
PNC Financial Services Group Inc. | 5.939% | 8/18/34 | 16,272 | 16,564 | ||
PNC Financial Services Group Inc. | 6.875% | 10/20/34 | 63,716 | 69,007 | ||
PNC Financial Services Group Inc. | 5.676% | 1/22/35 | 42,303 | 42,293 | ||
Primerica Inc. | 2.800% | 11/19/31 | 15,798 | 13,073 | ||
Principal Financial Group Inc. | 2.125% | 6/15/30 | 10,588 | 8,797 | ||
Principal Financial Group Inc. | 5.375% | 3/15/33 | 15,103 | 15,032 | ||
Progressive Corp. | 3.200% | 3/26/30 | 4,190 | 3,795 | ||
Progressive Corp. | 3.000% | 3/15/32 | 14,162 | 12,205 | ||
Progressive Corp. | 6.250% | 12/1/32 | 7,565 | 8,086 | ||
Progressive Corp. | 4.950% | 6/15/33 | 17,586 | 17,383 | ||
1 | Prudential Financial Inc. | 2.100% | 3/10/30 | 14,999 | 12,752 | |
1 | Prudential Financial Inc. | 5.750% | 7/15/33 | 2,914 | 3,032 | |
1 | Prudential Financial Inc. | 3.700% | 10/1/50 | 21,675 | 18,586 | |
Prudential Financial Inc. | 5.125% | 3/1/52 | 25,945 | 24,060 | ||
Prudential Financial Inc. | 6.000% | 9/1/52 | 31,542 | 30,821 | ||
Prudential Financial Inc. | 6.750% | 3/1/53 | 6,582 | 6,717 | ||
Prudential Financial Inc. | 6.500% | 3/15/54 | 30,505 | 30,613 | ||
Prudential Funding Asia plc | 3.125% | 4/14/30 | 26,346 | 23,457 | ||
Prudential Funding Asia plc | 3.625% | 3/24/32 | 9,352 | 8,341 | ||
Raymond James Financial Inc. | 4.650% | 4/1/30 | 12,674 | 12,349 | ||
Reinsurance Group of America Inc. | 3.150% | 6/15/30 | 12,624 | 11,136 | ||
Reinsurance Group of America Inc. | 6.000% | 9/15/33 | 12,076 | 12,252 | ||
RenaissanceRe Holdings Ltd. | 5.750% | 6/5/33 | 19,910 | 19,753 | ||
1 | Royal Bank of Canada | 2.300% | 11/3/31 | 42,817 | 35,252 | |
Royal Bank of Canada | 3.875% | 5/4/32 | 28,015 | 25,543 | ||
1 | Royal Bank of Canada | 5.000% | 2/1/33 | 45,847 | 44,940 | |
1 | Royal Bank of Canada | 5.000% | 5/2/33 | 18,627 | 18,328 | |
1 | Royal Bank of Canada | 5.150% | 2/1/34 | 22,792 | 22,462 | |
Santander Holdings USA Inc. | 7.660% | 11/9/31 | 16,903 | 18,272 | ||
Santander Holdings USA Inc. | 6.342% | 5/31/35 | 10,000 | 10,012 | ||
Santander UK Group Holdings plc | 2.896% | 3/15/32 | 21,851 | 18,311 | ||
State Street Corp. | 2.400% | 1/24/30 | 32,869 | 28,782 | ||
State Street Corp. | 2.200% | 3/3/31 | 23,811 | 19,745 | ||
State Street Corp. | 3.152% | 3/30/31 | 8,128 | 7,302 | ||
State Street Corp. | 4.421% | 5/13/33 | 9,450 | 8,926 | ||
State Street Corp. | 4.164% | 8/4/33 | 26,171 | 24,082 | ||
State Street Corp. | 4.821% | 1/26/34 | 18,505 | 17,795 | ||
State Street Corp. | 5.159% | 5/18/34 | 25,434 | 25,008 | ||
1 | State Street Corp. | 3.031% | 11/1/34 | 12,481 | 10,930 | |
State Street Corp. | 6.123% | 11/21/34 | 10,391 | 10,737 | ||
Stewart Information Services Corp. | 3.600% | 11/15/31 | 11,016 | 9,152 | ||
Stifel Financial Corp. | 4.000% | 5/15/30 | 9,253 | 8,469 | ||
Sumitomo Mitsui Financial Group Inc. | 3.040% | 7/16/29 | 70,216 | 63,051 | ||
Sumitomo Mitsui Financial Group Inc. | 3.202% | 9/17/29 | 8,814 | 7,940 | ||
Sumitomo Mitsui Financial Group Inc. | 2.724% | 9/27/29 | 7,587 | 6,681 | ||
Sumitomo Mitsui Financial Group Inc. | 5.710% | 1/13/30 | 39,429 | 40,082 | ||
Sumitomo Mitsui Financial Group Inc. | 2.750% | 1/15/30 | 44,620 | 38,944 | ||
Sumitomo Mitsui Financial Group Inc. | 2.130% | 7/8/30 | 32,058 | 26,670 | ||
Sumitomo Mitsui Financial Group Inc. | 2.142% | 9/23/30 | 24,444 | 20,187 | ||
Sumitomo Mitsui Financial Group Inc. | 1.710% | 1/12/31 | 5,398 | 4,301 | ||
Sumitomo Mitsui Financial Group Inc. | 2.222% | 9/17/31 | 14,052 | 11,386 | ||
Sumitomo Mitsui Financial Group Inc. | 5.766% | 1/13/33 | 43,377 | 44,491 | ||
Sumitomo Mitsui Financial Group Inc. | 5.776% | 7/13/33 | 31,293 | 32,118 | ||
Sumitomo Mitsui Financial Group Inc. | 5.808% | 9/14/33 | 19,810 | 20,455 | ||
Synchrony Financial | 2.875% | 10/28/31 | 17,442 | 14,018 | ||
1 | Toronto-Dominion Bank | 2.000% | 9/10/31 | 24,060 | 19,406 | |
1 | Toronto-Dominion Bank | 2.450% | 1/12/32 | 18,898 | 15,488 | |
1 | Toronto-Dominion Bank | 3.200% | 3/10/32 | 29,406 | 25,342 | |
Toronto-Dominion Bank | 4.456% | 6/8/32 | 50,775 | 47,742 | ||
TPG Operating Group II LP | 5.875% | 3/5/34 | 15,570 | 15,527 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Travelers Property Casualty Corp. | 6.375% | 3/15/33 | 12,253 | 13,295 | ||
1 | Truist Bank | 2.250% | 3/11/30 | 30,472 | 25,177 | |
1 | Truist Financial Corp. | 1.950% | 6/5/30 | 18,957 | 15,551 | |
1 | Truist Financial Corp. | 4.916% | 7/28/33 | 26,480 | 24,423 | |
1 | Truist Financial Corp. | 6.123% | 10/28/33 | 18,887 | 19,276 | |
1 | Truist Financial Corp. | 5.122% | 1/26/34 | 38,274 | 36,433 | |
1 | Truist Financial Corp. | 5.867% | 6/8/34 | 40,220 | 40,368 | |
1 | Truist Financial Corp. | 5.711% | 1/24/35 | 51,847 | 51,539 | |
Unum Group | 4.000% | 6/15/29 | 11,049 | 10,360 | ||
1 | US Bancorp | 3.000% | 7/30/29 | 24,346 | 21,613 | |
1 | US Bancorp | 1.375% | 7/22/30 | 32,664 | 26,132 | |
1 | US Bancorp | 2.677% | 1/27/33 | 24,713 | 20,250 | |
1 | US Bancorp | 4.967% | 7/22/33 | 30,275 | 28,273 | |
US Bancorp | 5.850% | 10/21/33 | 35,831 | 36,232 | ||
US Bancorp | 4.839% | 2/1/34 | 45,676 | 43,000 | ||
US Bancorp | 5.836% | 6/12/34 | 49,811 | 50,178 | ||
US Bancorp | 5.678% | 1/23/35 | 53,977 | 53,887 | ||
US Bancorp | 2.491% | 11/3/36 | 32,830 | 25,660 | ||
Visa Inc. | 2.050% | 4/15/30 | 39,094 | 33,414 | ||
Visa Inc. | 1.100% | 2/15/31 | 29,221 | 23,043 | ||
1 | Wells Fargo & Co. | 3.196% | 6/17/27 | 184 | 176 | |
1 | Wells Fargo & Co. | 7.950% | 11/15/29 | 4,677 | 5,174 | |
1 | Wells Fargo & Co. | 2.879% | 10/30/30 | 100,628 | 88,643 | |
1 | Wells Fargo & Co. | 2.572% | 2/11/31 | 80,395 | 69,157 | |
1 | Wells Fargo & Co. | 4.478% | 4/4/31 | 64,513 | 61,398 | |
1 | Wells Fargo & Co. | 3.350% | 3/2/33 | 92,798 | 80,006 | |
1 | Wells Fargo & Co. | 4.897% | 7/25/33 | 95,358 | 91,248 | |
Wells Fargo & Co. | 5.389% | 4/24/34 | 100,601 | 98,990 | ||
1 | Wells Fargo & Co. | 5.557% | 7/25/34 | 98,141 | 97,664 | |
Wells Fargo & Co. | 6.491% | 10/23/34 | 78,540 | 83,564 | ||
Wells Fargo & Co. | 5.499% | 1/23/35 | 81,398 | 80,699 | ||
Western Union Co. | 2.750% | 3/15/31 | 7,657 | 6,362 | ||
Westpac Banking Corp. | 2.650% | 1/16/30 | 18,482 | 16,361 | ||
Westpac Banking Corp. | 2.150% | 6/3/31 | 32,807 | 27,233 | ||
Westpac Banking Corp. | 5.405% | 8/10/33 | 29,694 | 28,953 | ||
Westpac Banking Corp. | 6.820% | 11/17/33 | 14,399 | 15,413 | ||
Westpac Banking Corp. | 4.110% | 7/24/34 | 32,344 | 29,735 | ||
Westpac Banking Corp. | 2.668% | 11/15/35 | 39,670 | 32,549 | ||
Westpac Banking Corp. | 3.020% | 11/18/36 | 28,442 | 23,271 | ||
Willis North America Inc. | 2.950% | 9/15/29 | 23,483 | 20,898 | ||
Willis North America Inc. | 5.350% | 5/15/33 | 25,300 | 24,655 | ||
Wintrust Financial Corp. | 4.850% | 6/6/29 | 3,541 | 3,235 | ||
Zions Bancorp NA | 3.250% | 10/29/29 | 12,966 | 10,754 | ||
14,672,216 | ||||||
Health Care (9.5%) | ||||||
Abbott Laboratories | 1.400% | 6/30/30 | 13,937 | 11,470 | ||
AbbVie Inc. | 3.200% | 11/21/29 | 149,363 | 136,066 | ||
AbbVie Inc. | 4.950% | 3/15/31 | 47,539 | 47,177 | ||
AbbVie Inc. | 5.050% | 3/15/34 | 72,100 | 71,298 | ||
Adventist Health System | 5.430% | 3/1/32 | 9,395 | 9,257 | ||
1 | Advocate Health & Hospitals Corp. | 2.211% | 6/15/30 | 6,849 | 5,856 | |
Agilent Technologies Inc. | 2.750% | 9/15/29 | 13,069 | 11,609 | ||
Agilent Technologies Inc. | 2.100% | 6/4/30 | 12,106 | 10,136 | ||
Agilent Technologies Inc. | 2.300% | 3/12/31 | 23,946 | 19,851 | ||
Amgen Inc. | 4.050% | 8/18/29 | 40,115 | 38,143 | ||
Amgen Inc. | 2.450% | 2/21/30 | 34,684 | 30,037 | ||
Amgen Inc. | 5.250% | 3/2/30 | 65,553 | 65,737 | ||
Amgen Inc. | 2.300% | 2/25/31 | 34,817 | 29,112 | ||
Amgen Inc. | 2.000% | 1/15/32 | 10,814 | 8,641 | ||
Amgen Inc. | 3.350% | 2/22/32 | 29,951 | 26,382 | ||
Amgen Inc. | 4.200% | 3/1/33 | 13,813 | 12,732 | ||
Amgen Inc. | 5.250% | 3/2/33 | 106,029 | 105,225 | ||
1 | Ascension Health | 2.532% | 11/15/29 | 19,804 | 17,432 | |
AstraZeneca Finance LLC | 4.900% | 3/3/30 | 1,534 | 1,530 | ||
AstraZeneca Finance LLC | 4.900% | 2/26/31 | 20,931 | 20,783 | ||
AstraZeneca Finance LLC | 2.250% | 5/28/31 | 26,601 | 22,338 | ||
AstraZeneca Finance LLC | 4.875% | 3/3/33 | 12,847 | 12,657 | ||
AstraZeneca Finance LLC | 5.000% | 2/26/34 | 44,898 | 44,347 | ||
AstraZeneca plc | 1.375% | 8/6/30 | 53,066 | 43,007 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Banner Health | 2.338% | 1/1/30 | 7,177 | 6,187 | ||
Banner Health | 1.897% | 1/1/31 | 7,059 | 5,813 | ||
Baxter International Inc. | 3.950% | 4/1/30 | 11,930 | 11,023 | ||
Baxter International Inc. | 1.730% | 4/1/31 | 10,537 | 8,297 | ||
Baxter International Inc. | 2.539% | 2/1/32 | 53,165 | 43,160 | ||
1 | Baylor Scott & White Holdings | 1.777% | 11/15/30 | 4,248 | 3,478 | |
Becton Dickinson & Co. | 2.823% | 5/20/30 | 25,081 | 21,929 | ||
Becton Dickinson & Co. | 1.957% | 2/11/31 | 31,970 | 25,936 | ||
Becton Dickinson & Co. | 4.298% | 8/22/32 | 9,541 | 8,874 | ||
Becton Dickinson & Co. | 5.110% | 2/8/34 | 6,320 | 6,168 | ||
Biogen Inc. | 2.250% | 5/1/30 | 38,259 | 32,232 | ||
Bio-Rad Laboratories Inc. | 3.700% | 3/15/32 | 22,383 | 19,702 | ||
1 | Bon Secours Mercy Health Inc. | 3.464% | 6/1/30 | 9,225 | 8,457 | |
1 | Bon Secours Mercy Health Inc. | 2.095% | 6/1/31 | 7,208 | 5,924 | |
Boston Scientific Corp. | 2.650% | 6/1/30 | 33,900 | 29,530 | ||
Bristol-Myers Squibb Co. | 3.400% | 7/26/29 | 64,049 | 59,315 | ||
Bristol-Myers Squibb Co. | 1.450% | 11/13/30 | 30,728 | 24,667 | ||
Bristol-Myers Squibb Co. | 5.750% | 2/1/31 | 15,546 | 16,080 | ||
Bristol-Myers Squibb Co. | 5.100% | 2/22/31 | 50,323 | 50,214 | ||
Bristol-Myers Squibb Co. | 2.950% | 3/15/32 | 46,053 | 39,505 | ||
Bristol-Myers Squibb Co. | 5.900% | 11/15/33 | 18,438 | 19,268 | ||
Bristol-Myers Squibb Co. | 5.200% | 2/22/34 | 56,916 | 56,526 | ||
Cardinal Health Inc. | 5.450% | 2/15/34 | 12,675 | 12,597 | ||
1 | Cedars-Sinai Health System | 2.288% | 8/15/31 | 7,095 | 5,883 | |
Cencora Inc. | 2.800% | 5/15/30 | 8,319 | 7,278 | ||
Cencora Inc. | 2.700% | 3/15/31 | 30,494 | 25,858 | ||
Cencora Inc. | 5.125% | 2/15/34 | 5,657 | 5,531 | ||
Centene Corp. | 4.625% | 12/15/29 | 89,226 | 83,991 | ||
Centene Corp. | 3.375% | 2/15/30 | 56,438 | 49,719 | ||
Centene Corp. | 3.000% | 10/15/30 | 48,018 | 40,818 | ||
Centene Corp. | 2.500% | 3/1/31 | 55,051 | 44,902 | ||
Centene Corp. | 2.625% | 8/1/31 | 33,962 | 27,618 | ||
Cigna Group | 2.400% | 3/15/30 | 35,767 | 30,696 | ||
Cigna Group | 2.375% | 3/15/31 | 41,084 | 34,155 | ||
Cigna Group | 5.125% | 5/15/31 | 16,325 | 16,148 | ||
Cigna Group | 5.400% | 3/15/33 | 19,337 | 19,305 | ||
Cigna Group | 5.250% | 2/15/34 | 36,783 | 36,076 | ||
CommonSpirit Health | 3.347% | 10/1/29 | 24,029 | 21,947 | ||
CommonSpirit Health | 5.205% | 12/1/31 | 19,265 | 18,901 | ||
CommonSpirit Health | 5.318% | 12/1/34 | 7,970 | 7,801 | ||
CVS Health Corp. | 3.250% | 8/15/29 | 44,100 | 39,816 | ||
CVS Health Corp. | 5.125% | 2/21/30 | 34,590 | 34,021 | ||
CVS Health Corp. | 3.750% | 4/1/30 | 34,605 | 31,611 | ||
CVS Health Corp. | 1.750% | 8/21/30 | 39,481 | 31,843 | ||
CVS Health Corp. | 5.250% | 1/30/31 | 25,908 | 25,494 | ||
CVS Health Corp. | 1.875% | 2/28/31 | 45,322 | 36,059 | ||
CVS Health Corp. | 5.550% | 6/1/31 | 30,000 | 29,924 | ||
CVS Health Corp. | 2.125% | 9/15/31 | 15,861 | 12,636 | ||
CVS Health Corp. | 5.250% | 2/21/33 | 49,410 | 48,003 | ||
CVS Health Corp. | 5.300% | 6/1/33 | 24,990 | 24,318 | ||
CVS Health Corp. | 5.700% | 6/1/34 | 17,690 | 17,605 | ||
DENTSPLY SIRONA Inc. | 3.250% | 6/1/30 | 18,381 | 16,025 | ||
DH Europe Finance II Sarl | 2.600% | 11/15/29 | 27,391 | 24,241 | ||
Elevance Health Inc. | 4.101% | 3/1/28 | 1 | — | ||
Elevance Health Inc. | 5.150% | 6/15/29 | 4,000 | 3,993 | ||
Elevance Health Inc. | 2.875% | 9/15/29 | 28,460 | 25,384 | ||
Elevance Health Inc. | 2.250% | 5/15/30 | 28,872 | 24,475 | ||
Elevance Health Inc. | 2.550% | 3/15/31 | 28,465 | 24,053 | ||
Elevance Health Inc. | 4.100% | 5/15/32 | 11,011 | 10,134 | ||
Elevance Health Inc. | 5.500% | 10/15/32 | 13,613 | 13,740 | ||
Elevance Health Inc. | 4.750% | 2/15/33 | 29,659 | 28,452 | ||
Elevance Health Inc. | 5.375% | 6/15/34 | 7,000 | 6,977 | ||
Eli Lilly & Co. | 4.700% | 2/27/33 | 25,266 | 24,703 | ||
Eli Lilly & Co. | 4.700% | 2/9/34 | 39,154 | 38,044 | ||
GE HealthCare Technologies Inc. | 5.857% | 3/15/30 | 34,114 | 34,979 | ||
GE HealthCare Technologies Inc. | 5.905% | 11/22/32 | 45,169 | 46,498 | ||
Gilead Sciences Inc. | 1.650% | 10/1/30 | 34,541 | 28,158 | ||
Gilead Sciences Inc. | 5.250% | 10/15/33 | 23,977 | 23,985 | ||
GlaxoSmithKline Capital Inc. | 3.875% | 5/15/28 | 1 | — | ||
GlaxoSmithKline Capital plc | 3.375% | 6/1/29 | 22,691 | 21,162 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
HCA Inc. | 4.125% | 6/15/29 | 39,968 | 37,654 | ||
HCA Inc. | 3.500% | 9/1/30 | 71,227 | 63,747 | ||
HCA Inc. | 5.450% | 4/1/31 | 14,590 | 14,497 | ||
HCA Inc. | 2.375% | 7/15/31 | 20,740 | 16,920 | ||
HCA Inc. | 3.625% | 3/15/32 | 61,688 | 53,905 | ||
HCA Inc. | 5.500% | 6/1/33 | 38,008 | 37,526 | ||
HCA Inc. | 5.600% | 4/1/34 | 31,447 | 31,168 | ||
Humana Inc. | 3.125% | 8/15/29 | 21,496 | 19,329 | ||
Humana Inc. | 4.875% | 4/1/30 | 7,811 | 7,620 | ||
Humana Inc. | 5.375% | 4/15/31 | 23,046 | 22,825 | ||
Humana Inc. | 2.150% | 2/3/32 | 24,216 | 19,169 | ||
Humana Inc. | 5.875% | 3/1/33 | 23,389 | 23,700 | ||
Humana Inc. | 5.950% | 3/15/34 | 22,390 | 22,815 | ||
Illumina Inc. | 2.550% | 3/23/31 | 12,549 | 10,261 | ||
Johnson & Johnson | 6.950% | 9/1/29 | 2,185 | 2,418 | ||
Johnson & Johnson | 1.300% | 9/1/30 | 58,493 | 47,813 | ||
Johnson & Johnson | 4.375% | 12/5/33 | 4,540 | 4,415 | ||
Laboratory Corp. of America Holdings | 2.950% | 12/1/29 | 5,198 | 4,627 | ||
Laboratory Corp. of America Holdings | 2.700% | 6/1/31 | 20,900 | 17,683 | ||
McKesson Corp. | 5.100% | 7/15/33 | 15,120 | 15,046 | ||
Medtronic Global Holdings SCA | 4.500% | 3/30/33 | 26,789 | 25,616 | ||
Merck & Co. Inc. | 1.900% | 12/10/28 | 10,416 | 9,191 | ||
Merck & Co. Inc. | 4.300% | 5/17/30 | 18,186 | 17,597 | ||
Merck & Co. Inc. | 1.450% | 6/24/30 | 35,830 | 29,276 | ||
Merck & Co. Inc. | 2.150% | 12/10/31 | 51,945 | 42,824 | ||
Merck & Co. Inc. | 4.500% | 5/17/33 | 39,374 | 37,862 | ||
Novartis Capital Corp. | 2.200% | 8/14/30 | 46,356 | 39,890 | ||
1 | Ochsner LSU Health System of North Louisiana | 2.510% | 5/15/31 | 8,845 | 6,126 | |
OhioHealth Corp. | 2.297% | 11/15/31 | 7,735 | 6,382 | ||
Pfizer Inc. | 2.625% | 4/1/30 | 40,950 | 36,003 | ||
Pfizer Inc. | 1.700% | 5/28/30 | 23,435 | 19,505 | ||
Pfizer Inc. | 1.750% | 8/18/31 | 29,648 | 23,879 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.650% | 5/19/30 | 74,645 | 72,982 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.750% | 5/19/33 | 135,818 | 131,393 | ||
1 | Piedmont Healthcare Inc. | 2.044% | 1/1/32 | 7,192 | 5,743 | |
1 | Providence St. Joseph Health Obligated Group | 2.532% | 10/1/29 | 15,122 | 13,205 | |
Providence St. Joseph Health Obligated Group | 5.403% | 10/1/33 | 16,200 | 16,189 | ||
Quest Diagnostics Inc. | 4.200% | 6/30/29 | 19,584 | 18,822 | ||
Quest Diagnostics Inc. | 2.950% | 6/30/30 | 24,180 | 21,307 | ||
Quest Diagnostics Inc. | 2.800% | 6/30/31 | 13,843 | 11,803 | ||
Quest Diagnostics Inc. | 6.400% | 11/30/33 | 14,711 | 15,695 | ||
Regeneron Pharmaceuticals Inc. | 1.750% | 9/15/30 | 33,093 | 26,952 | ||
Revvity Inc. | 3.300% | 9/15/29 | 22,371 | 20,280 | ||
Revvity Inc. | 2.550% | 3/15/31 | 10,253 | 8,541 | ||
Revvity Inc. | 2.250% | 9/15/31 | 13,050 | 10,595 | ||
Royalty Pharma plc | 2.200% | 9/2/30 | 19,197 | 15,864 | ||
Royalty Pharma plc | 2.150% | 9/2/31 | 16,375 | 13,057 | ||
1 | Rush Obligated Group | 3.922% | 11/15/29 | 2,731 | 2,570 | |
Smith & Nephew plc | 2.032% | 10/14/30 | 22,612 | 18,524 | ||
Smith & Nephew plc | 5.400% | 3/20/34 | 16,450 | 16,123 | ||
2 | Solventum Corp. | 5.450% | 3/13/31 | 24,340 | 23,997 | |
2 | Solventum Corp. | 5.600% | 3/23/34 | 40,145 | 39,440 | |
1 | Stanford Health Care | 3.310% | 8/15/30 | 5,420 | 4,921 | |
STERIS Irish FinCo Unltd. Co. | 2.700% | 3/15/31 | 18,239 | 15,394 | ||
Stryker Corp. | 1.950% | 6/15/30 | 25,798 | 21,611 | ||
1 | Sutter Health | 2.294% | 8/15/30 | 17,995 | 15,349 | |
Sutter Health | 5.164% | 8/15/33 | 5,507 | 5,489 | ||
Takeda Pharmaceutical Co. Ltd. | 2.050% | 3/31/30 | 62,548 | 52,566 | ||
Thermo Fisher Scientific Inc. | 2.600% | 10/1/29 | 30,690 | 27,264 | ||
Thermo Fisher Scientific Inc. | 4.977% | 8/10/30 | 19,196 | 19,087 | ||
Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | 37,655 | 30,569 | ||
Thermo Fisher Scientific Inc. | 4.950% | 11/21/32 | 17,196 | 16,982 | ||
Thermo Fisher Scientific Inc. | 5.086% | 8/10/33 | 26,088 | 25,880 | ||
Thermo Fisher Scientific Inc. | 5.200% | 1/31/34 | 7,111 | 7,126 | ||
UnitedHealth Group Inc. | 2.875% | 8/15/29 | 26,474 | 23,858 | ||
UnitedHealth Group Inc. | 5.300% | 2/15/30 | 33,828 | 34,229 | ||
UnitedHealth Group Inc. | 2.000% | 5/15/30 | 26,164 | 22,020 | ||
UnitedHealth Group Inc. | 4.900% | 4/15/31 | 22,560 | 22,216 | ||
UnitedHealth Group Inc. | 2.300% | 5/15/31 | 55,431 | 46,307 | ||
UnitedHealth Group Inc. | 4.200% | 5/15/32 | 41,242 | 38,593 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
UnitedHealth Group Inc. | 5.350% | 2/15/33 | 36,002 | 36,361 | ||
UnitedHealth Group Inc. | 4.500% | 4/15/33 | 37,729 | 35,807 | ||
UnitedHealth Group Inc. | 5.000% | 4/15/34 | 18,714 | 18,364 | ||
Universal Health Services Inc. | 2.650% | 10/15/30 | 19,457 | 16,404 | ||
Universal Health Services Inc. | 2.650% | 1/15/32 | 13,161 | 10,686 | ||
UPMC | 5.035% | 5/15/33 | 15,000 | 14,646 | ||
Viatris Inc. | 2.700% | 6/22/30 | 36,099 | 30,374 | ||
Wyeth LLC | 6.500% | 2/1/34 | 4,036 | 4,402 | ||
Zimmer Biomet Holdings Inc. | 2.600% | 11/24/31 | 20,536 | 16,995 | ||
Zoetis Inc. | 2.000% | 5/15/30 | 21,713 | 18,129 | ||
Zoetis Inc. | 5.600% | 11/16/32 | 24,023 | 24,531 | ||
4,445,196 | ||||||
Industrials (6.3%) | ||||||
3M Co. | 2.375% | 8/26/29 | 23,245 | 20,200 | ||
3M Co. | 3.050% | 4/15/30 | 6,443 | 5,707 | ||
Acuity Brands Lighting Inc. | 2.150% | 12/15/30 | 13,609 | 11,186 | ||
AGCO Corp. | 5.800% | 3/21/34 | 18,270 | 18,238 | ||
Allegion plc | 3.500% | 10/1/29 | 10,676 | 9,774 | ||
Allegion US Holding Co. Inc. | 5.411% | 7/1/32 | 17,062 | 16,892 | ||
1 | American Airlines Pass-Through Trust Class A Series 2021-1 | 2.875% | 7/11/34 | 2,230 | 1,884 | |
1 | American Airlines Pass-Through Trust Class AA Series 2017-2 | 3.350% | 10/15/29 | 9,084 | 8,316 | |
1 | American Airlines Pass-Through Trust Class AA Series 2019-1 | 3.150% | 2/15/32 | 11,517 | 10,208 | |
Amphenol Corp. | 4.350% | 6/1/29 | 14,351 | 13,867 | ||
Amphenol Corp. | 2.800% | 2/15/30 | 23,312 | 20,647 | ||
Amphenol Corp. | 2.200% | 9/15/31 | 17,428 | 14,248 | ||
Amphenol Corp. | 5.250% | 4/5/34 | 15,350 | 15,301 | ||
Boeing Co. | 2.950% | 2/1/30 | 14,032 | 11,922 | ||
Boeing Co. | 5.150% | 5/1/30 | 120,218 | 114,684 | ||
Boeing Co. | 3.625% | 2/1/31 | 39,930 | 34,695 | ||
2 | Boeing Co. | 6.388% | 5/1/31 | 26,055 | 26,347 | |
Boeing Co. | 3.600% | 5/1/34 | 21,725 | 17,270 | ||
2 | Boeing Co. | 6.528% | 5/1/34 | 64,350 | 65,228 | |
Canadian National Railway Co. | 3.850% | 8/5/32 | 20,183 | 18,450 | ||
Canadian National Railway Co. | 5.850% | 11/1/33 | 7,532 | 7,916 | ||
Canadian Pacific Railway Co. | 2.875% | 11/15/29 | 4,912 | 4,383 | ||
Canadian Pacific Railway Co. | 2.050% | 3/5/30 | 17,391 | 14,708 | ||
Canadian Pacific Railway Co. | 7.125% | 10/15/31 | 9,532 | 10,605 | ||
Canadian Pacific Railway Co. | 2.450% | 12/2/31 | 36,147 | 32,658 | ||
Carrier Global Corp. | 2.722% | 2/15/30 | 56,950 | 49,972 | ||
Carrier Global Corp. | 2.700% | 2/15/31 | 15,526 | 13,279 | ||
Carrier Global Corp. | 5.900% | 3/15/34 | 26,866 | 27,908 | ||
Caterpillar Inc. | 2.600% | 9/19/29 | 11,248 | 10,037 | ||
Caterpillar Inc. | 2.600% | 4/9/30 | 24,177 | 21,285 | ||
Caterpillar Inc. | 1.900% | 3/12/31 | 7,227 | 6,045 | ||
CSX Corp. | 2.400% | 2/15/30 | 6,865 | 5,956 | ||
CSX Corp. | 4.100% | 11/15/32 | 34,201 | 31,774 | ||
Cummins Inc. | 1.500% | 9/1/30 | 22,872 | 18,593 | ||
Cummins Inc. | 5.150% | 2/20/34 | 13,334 | 13,308 | ||
Deere & Co. | 5.375% | 10/16/29 | 14,360 | 14,697 | ||
Deere & Co. | 3.100% | 4/15/30 | 35,963 | 32,583 | ||
Dover Corp. | 2.950% | 11/4/29 | 7,056 | 6,318 | ||
Eaton Corp. | 4.000% | 11/2/32 | 14,969 | 13,893 | ||
Eaton Corp. | 4.150% | 3/15/33 | 44,057 | 41,062 | ||
Emerson Electric Co. | 1.950% | 10/15/30 | 26,653 | 22,395 | ||
Emerson Electric Co. | 2.200% | 12/21/31 | 29,368 | 24,314 | ||
FedEx Corp. | 3.100% | 8/5/29 | 25,751 | 23,389 | ||
FedEx Corp. | 4.250% | 5/15/30 | 20,227 | 19,351 | ||
FedEx Corp. | 2.400% | 5/15/31 | 21,440 | 18,009 | ||
FedEx Corp. | 4.900% | 1/15/34 | 15,702 | 15,191 | ||
Flowserve Corp. | 3.500% | 10/1/30 | 13,225 | 11,736 | ||
GE Capital Funding LLC | 4.550% | 5/15/32 | 20,644 | 19,672 | ||
General Dynamics Corp. | 3.625% | 4/1/30 | 28,035 | 26,093 | ||
General Dynamics Corp. | 2.250% | 6/1/31 | 9,821 | 8,239 | ||
1 | General Electric Co. | 6.750% | 3/15/32 | 7,641 | 8,343 | |
HEICO Corp. | 5.350% | 8/1/33 | 16,080 | 15,921 | ||
Honeywell International Inc. | 2.700% | 8/15/29 | 21,690 | 19,490 | ||
Honeywell International Inc. | 4.875% | 9/1/29 | 19,862 | 19,824 | ||
Honeywell International Inc. | 1.950% | 6/1/30 | 26,947 | 22,790 | ||
Honeywell International Inc. | 1.750% | 9/1/31 | 35,702 | 28,808 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Honeywell International Inc. | 4.950% | 9/1/31 | 19,084 | 19,009 | ||
Honeywell International Inc. | 5.000% | 2/15/33 | 25,204 | 25,163 | ||
Honeywell International Inc. | 4.500% | 1/15/34 | 24,137 | 23,029 | ||
Huntington Ingalls Industries Inc. | 4.200% | 5/1/30 | 15,234 | 14,229 | ||
IDEX Corp. | 3.000% | 5/1/30 | 15,436 | 13,482 | ||
Ingersoll Rand Inc. | 5.176% | 6/15/29 | 19,235 | 19,204 | ||
Ingersoll Rand Inc. | 5.314% | 6/15/31 | 12,825 | 12,836 | ||
Ingersoll Rand Inc. | 5.700% | 8/14/33 | 27,556 | 28,090 | ||
Jacobs Engineering Group Inc. | 5.900% | 3/1/33 | 13,533 | 13,455 | ||
1 | JetBlue Pass-Through Trust Class A Series 2020-1 | 4.000% | 11/15/32 | 5,209 | 4,810 | |
1 | JetBlue Pass-Through Trust Class AA Series 2019-1 | 2.750% | 5/15/32 | 10,207 | 8,718 | |
1 | John Deere Capital Corp. | 2.800% | 7/18/29 | 16,585 | 14,970 | |
1 | John Deere Capital Corp. | 4.850% | 10/11/29 | 2,255 | 2,247 | |
1 | John Deere Capital Corp. | 2.450% | 1/9/30 | 16,166 | 14,211 | |
1 | John Deere Capital Corp. | 4.700% | 6/10/30 | 33,819 | 33,336 | |
John Deere Capital Corp. | 1.450% | 1/15/31 | 16,265 | 13,120 | ||
1 | John Deere Capital Corp. | 4.900% | 3/7/31 | 23,680 | 23,481 | |
1 | John Deere Capital Corp. | 2.000% | 6/17/31 | 745 | 613 | |
1 | John Deere Capital Corp. | 3.900% | 6/7/32 | 16,191 | 14,955 | |
1 | John Deere Capital Corp. | 4.350% | 9/15/32 | 19,643 | 18,735 | |
1 | John Deere Capital Corp. | 5.150% | 9/8/33 | 21,716 | 21,763 | |
1 | John Deere Capital Corp. | 5.100% | 4/11/34 | 28,600 | 28,445 | |
Johnson Controls International plc | 1.750% | 9/15/30 | 18,864 | 15,442 | ||
Johnson Controls International plc | 2.000% | 9/16/31 | 9,917 | 7,947 | ||
Johnson Controls International plc | 4.900% | 12/1/32 | 7,319 | 7,126 | ||
Kennametal Inc. | 2.800% | 3/1/31 | 7,286 | 6,114 | ||
Keysight Technologies Inc. | 3.000% | 10/30/29 | 13,054 | 11,606 | ||
L3Harris Technologies Inc. | 5.050% | 6/1/29 | 8,425 | 8,346 | ||
L3Harris Technologies Inc. | 1.800% | 1/15/31 | 22,811 | 18,345 | ||
L3Harris Technologies Inc. | 5.250% | 6/1/31 | 17,750 | 17,562 | ||
L3Harris Technologies Inc. | 5.400% | 7/31/33 | 37,281 | 36,971 | ||
LKQ Corp. | 6.250% | 6/15/33 | 15,238 | 15,662 | ||
Lockheed Martin Corp. | 1.850% | 6/15/30 | 17,664 | 14,731 | ||
Lockheed Martin Corp. | 3.900% | 6/15/32 | 24,829 | 23,003 | ||
Lockheed Martin Corp. | 5.250% | 1/15/33 | 28,068 | 28,419 | ||
Nordson Corp. | 5.800% | 9/15/33 | 13,484 | 13,800 | ||
Norfolk Southern Corp. | 2.550% | 11/1/29 | 16,228 | 14,215 | ||
Norfolk Southern Corp. | 5.050% | 8/1/30 | 20,843 | 20,727 | ||
Norfolk Southern Corp. | 2.300% | 5/15/31 | 11,414 | 9,531 | ||
Norfolk Southern Corp. | 3.000% | 3/15/32 | 22,962 | 19,656 | ||
Norfolk Southern Corp. | 4.450% | 3/1/33 | 12,963 | 12,213 | ||
Norfolk Southern Corp. | 5.550% | 3/15/34 | 12,321 | 12,511 | ||
Northrop Grumman Corp. | 4.400% | 5/1/30 | 20,798 | 19,999 | ||
Northrop Grumman Corp. | 4.700% | 3/15/33 | 28,824 | 27,722 | ||
nVent Finance Sarl | 2.750% | 11/15/31 | 7,363 | 6,014 | ||
nVent Finance Sarl | 5.650% | 5/15/33 | 12,916 | 12,854 | ||
Oshkosh Corp. | 3.100% | 3/1/30 | 9,702 | 8,553 | ||
Otis Worldwide Corp. | 2.565% | 2/15/30 | 45,137 | 39,302 | ||
1 | PACCAR Financial Corp. | 5.000% | 3/22/34 | 9,520 | 9,433 | |
Parker-Hannifin Corp. | 3.250% | 6/14/29 | 40,272 | 36,843 | ||
Parker-Hannifin Corp. | 4.500% | 9/15/29 | 38,395 | 37,277 | ||
Pentair Finance Sarl | 4.500% | 7/1/29 | 12,858 | 12,389 | ||
Pentair Finance Sarl | 5.900% | 7/15/32 | 9,627 | 9,823 | ||
1 | Regal Rexnord Corp. | 6.300% | 2/15/30 | 28,534 | 29,210 | |
Regal Rexnord Corp. | 6.400% | 4/15/33 | 32,386 | 33,335 | ||
Republic Services Inc. | 2.300% | 3/1/30 | 16,179 | 13,908 | ||
Republic Services Inc. | 1.450% | 2/15/31 | 22,574 | 17,829 | ||
Republic Services Inc. | 1.750% | 2/15/32 | 17,319 | 13,539 | ||
Republic Services Inc. | 2.375% | 3/15/33 | 8,597 | 6,832 | ||
Republic Services Inc. | 5.000% | 4/1/34 | 20,275 | 19,783 | ||
Rockwell Automation Inc. | 1.750% | 8/15/31 | 12,338 | 9,851 | ||
RTX Corp. | 2.250% | 7/1/30 | 30,476 | 25,813 | ||
RTX Corp. | 6.000% | 3/15/31 | 23,978 | 24,891 | ||
RTX Corp. | 1.900% | 9/1/31 | 32,284 | 25,675 | ||
RTX Corp. | 2.375% | 3/15/32 | 32,593 | 26,496 | ||
RTX Corp. | 5.150% | 2/27/33 | 29,440 | 28,946 | ||
RTX Corp. | 6.100% | 3/15/34 | 36,575 | 38,269 | ||
1 | Ryder System Inc. | 5.500% | 6/1/29 | 6,300 | 6,325 | |
Ryder System Inc. | 6.600% | 12/1/33 | 26,132 | 27,841 | ||
Southwest Airlines Co. | 2.625% | 2/10/30 | 20,896 | 17,922 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Teledyne Technologies Inc. | 2.750% | 4/1/31 | 26,467 | 22,387 | ||
Textron Inc. | 3.900% | 9/17/29 | 8,410 | 7,845 | ||
Textron Inc. | 3.000% | 6/1/30 | 16,620 | 14,542 | ||
Textron Inc. | 2.450% | 3/15/31 | 12,285 | 10,235 | ||
Textron Inc. | 6.100% | 11/15/33 | 8,725 | 9,002 | ||
Timken Co. | 4.125% | 4/1/32 | 9,530 | 8,576 | ||
Trane Technologies Financing Ltd. | 5.250% | 3/3/33 | 19,115 | 19,150 | ||
Trimble Inc. | 6.100% | 3/15/33 | 21,579 | 22,188 | ||
2 | Triton Container International Ltd. | 3.150% | 6/15/31 | 5,795 | 4,786 | |
Triton Container International Ltd. | 3.250% | 3/15/32 | 15,140 | 12,247 | ||
Tyco Electronics Group SA | 2.500% | 2/4/32 | 16,315 | 13,693 | ||
Union Pacific Corp. | 2.400% | 2/5/30 | 12,561 | 10,928 | ||
Union Pacific Corp. | 2.375% | 5/20/31 | 17,181 | 14,518 | ||
Union Pacific Corp. | 2.800% | 2/14/32 | 26,429 | 22,629 | ||
Union Pacific Corp. | 4.500% | 1/20/33 | 23,933 | 22,904 | ||
1 | United Airlines Pass-Through Trust Class A Series 2023-1 | 5.800% | 1/15/36 | 9,950 | 9,982 | |
1 | United Airlines Pass-Through Trust Class AA Series 2018-1 | 3.500% | 3/1/30 | 3,387 | 3,101 | |
1 | United Airlines Pass-Through Trust Class AA Series 2019-1 | 4.150% | 8/25/31 | 2,349 | 2,188 | |
1 | United Airlines Pass-Through Trust Class AA Series 2019-2 | 2.700% | 5/1/32 | 14,633 | 12,511 | |
United Parcel Service Inc. | 2.500% | 9/1/29 | 8,428 | 7,481 | ||
United Parcel Service Inc. | 4.450% | 4/1/30 | 18,920 | 18,429 | ||
United Parcel Service Inc. | 4.875% | 3/3/33 | 22,523 | 22,107 | ||
United Parcel Service Inc. | 5.150% | 5/22/34 | 22,400 | 22,290 | ||
1 | US Airways Pass-Through Trust Class A Series 2012-1 | 5.900% | 10/1/24 | 368 | 368 | |
2 | Veralto Corp. | 5.450% | 9/18/33 | 21,266 | 21,065 | |
Vontier Corp. | 2.950% | 4/1/31 | 13,528 | 11,154 | ||
Waste Connections Inc. | 2.600% | 2/1/30 | 16,890 | 14,809 | ||
Waste Connections Inc. | 2.200% | 1/15/32 | 15,971 | 12,905 | ||
Waste Connections Inc. | 3.200% | 6/1/32 | 10,717 | 9,256 | ||
Waste Connections Inc. | 4.200% | 1/15/33 | 20,056 | 18,556 | ||
Waste Connections Inc. | 5.000% | 3/1/34 | 18,424 | 17,932 | ||
Waste Management Inc. | 2.000% | 6/1/29 | 16,112 | 14,002 | ||
Waste Management Inc. | 4.625% | 2/15/30 | 19,603 | 19,202 | ||
Waste Management Inc. | 1.500% | 3/15/31 | 26,035 | 20,782 | ||
Waste Management Inc. | 4.150% | 4/15/32 | 23,999 | 22,544 | ||
Waste Management Inc. | 4.625% | 2/15/33 | 9,919 | 9,543 | ||
Waste Management Inc. | 4.875% | 2/15/34 | 31,099 | 30,339 | ||
Westinghouse Air Brake Technologies Corp. | 5.611% | 3/11/34 | 13,130 | 13,172 | ||
Xylem Inc. | 2.250% | 1/30/31 | 13,525 | 11,245 | ||
2,964,704 | ||||||
Materials (3.1%) | ||||||
Air Products and Chemicals Inc. | 2.050% | 5/15/30 | 27,401 | 23,297 | ||
Air Products and Chemicals Inc. | 4.750% | 2/8/31 | 7,006 | 6,909 | ||
Air Products and Chemicals Inc. | 4.800% | 3/3/33 | 19,433 | 19,007 | ||
Air Products and Chemicals Inc. | 4.850% | 2/8/34 | 18,665 | 18,200 | ||
Albemarle Corp. | 5.050% | 6/1/32 | 16,671 | 16,033 | ||
Amcor Finance USA Inc. | 5.625% | 5/26/33 | 15,165 | 15,311 | ||
Amcor Flexibles North America Inc. | 2.630% | 6/19/30 | 6,053 | 5,147 | ||
Amcor Flexibles North America Inc. | 2.690% | 5/25/31 | 21,085 | 17,606 | ||
AngloGold Ashanti Holdings plc | 3.750% | 10/1/30 | 18,342 | 15,922 | ||
AptarGroup Inc. | 3.600% | 3/15/32 | 10,460 | 9,084 | ||
ArcelorMittal SA | 4.250% | 7/16/29 | 13,052 | 12,452 | ||
ArcelorMittal SA | 6.800% | 11/29/32 | 29,991 | 31,941 | ||
2 | Berry Global Inc. | 5.800% | 6/15/31 | 19,800 | 19,712 | |
2 | Berry Global Inc. | 5.650% | 1/15/34 | 20,055 | 19,568 | |
BHP Billiton Finance USA Ltd. | 5.250% | 9/8/30 | 15,057 | 15,150 | ||
BHP Billiton Finance USA Ltd. | 4.900% | 2/28/33 | 15,556 | 15,165 | ||
BHP Billiton Finance USA Ltd. | 5.250% | 9/8/33 | 32,604 | 32,408 | ||
Cabot Corp. | 4.000% | 7/1/29 | 8,913 | 8,332 | ||
Cabot Corp. | 5.000% | 6/30/32 | 8,285 | 8,120 | ||
Carlisle Cos. Inc. | 2.750% | 3/1/30 | 13,961 | 12,168 | ||
Carlisle Cos. Inc. | 2.200% | 3/1/32 | 13,653 | 10,878 | ||
Celanese US Holdings LLC | 6.330% | 7/15/29 | 10,993 | 11,289 | ||
Celanese US Holdings LLC | 6.550% | 11/15/30 | 25,820 | 26,966 | ||
Celanese US Holdings LLC | 6.379% | 7/15/32 | 22,627 | 23,264 | ||
Celanese US Holdings LLC | 6.700% | 11/15/33 | 31,011 | 32,617 | ||
CF Industries Inc. | 5.150% | 3/15/34 | 19,505 | 18,645 | ||
CRH America Finance Inc. | 5.400% | 5/21/34 | 18,500 | 18,302 | ||
Dow Chemical Co. | 7.375% | 11/1/29 | 17,684 | 19,419 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Dow Chemical Co. | 2.100% | 11/15/30 | 16,340 | 13,709 | ||
Dow Chemical Co. | 6.300% | 3/15/33 | 13,739 | 14,544 | ||
Dow Chemical Co. | 5.150% | 2/15/34 | 809 | 794 | ||
Eagle Materials Inc. | 2.500% | 7/1/31 | 19,800 | 16,508 | ||
Eastman Chemical Co. | 5.750% | 3/8/33 | 16,394 | 16,507 | ||
Eastman Chemical Co. | 5.625% | 2/20/34 | 17,143 | 17,055 | ||
Ecolab Inc. | 4.800% | 3/24/30 | 20,219 | 20,035 | ||
Ecolab Inc. | 1.300% | 1/30/31 | 13,838 | 10,969 | ||
Ecolab Inc. | 2.125% | 2/1/32 | 16,840 | 13,781 | ||
EIDP Inc. | 2.300% | 7/15/30 | 11,403 | 9,741 | ||
EIDP Inc. | 4.800% | 5/15/33 | 15,806 | 15,290 | ||
FMC Corp. | 3.450% | 10/1/29 | 15,426 | 13,861 | ||
FMC Corp. | 5.650% | 5/18/33 | 15,728 | 15,466 | ||
Freeport-McMoRan Inc. | 5.250% | 9/1/29 | 16,324 | 16,318 | ||
Freeport-McMoRan Inc. | 4.250% | 3/1/30 | 14,493 | 13,629 | ||
Freeport-McMoRan Inc. | 4.625% | 8/1/30 | 9,353 | 8,940 | ||
Georgia-Pacific LLC | 7.750% | 11/15/29 | 16,007 | 17,972 | ||
Georgia-Pacific LLC | 8.875% | 5/15/31 | 6,142 | 7,465 | ||
Huntsman International LLC | 2.950% | 6/15/31 | 7,384 | 6,068 | ||
Kinross Gold Corp. | 6.250% | 7/15/33 | 13,923 | 14,561 | ||
Linde Inc. | 1.100% | 8/10/30 | 22,241 | 17,803 | ||
LYB International Finance III LLC | 2.250% | 10/1/30 | 9,644 | 8,116 | ||
LYB International Finance III LLC | 5.625% | 5/15/33 | 11,717 | 11,877 | ||
LYB International Finance III LLC | 5.500% | 3/1/34 | 22,649 | 22,384 | ||
1 | Martin Marietta Materials Inc. | 2.500% | 3/15/30 | 14,718 | 12,690 | |
Martin Marietta Materials Inc. | 2.400% | 7/15/31 | 25,919 | 21,398 | ||
Mosaic Co. | 5.450% | 11/15/33 | 6,892 | 6,805 | ||
NewMarket Corp. | 2.700% | 3/18/31 | 9,013 | 7,473 | ||
Newmont Corp. | 2.800% | 10/1/29 | 18,409 | 16,329 | ||
Newmont Corp. | 2.250% | 10/1/30 | 29,388 | 24,803 | ||
Newmont Corp. | 2.600% | 7/15/32 | 25,882 | 21,389 | ||
2 | Newmont Corp. | 5.350% | 3/15/34 | 26,295 | 26,133 | |
Nucor Corp. | 2.700% | 6/1/30 | 15,747 | 13,844 | ||
Nucor Corp. | 3.125% | 4/1/32 | 25,287 | 21,845 | ||
Nutrien Ltd. | 2.950% | 5/13/30 | 9,750 | 8,607 | ||
Packaging Corp. of America | 3.000% | 12/15/29 | 12,708 | 11,306 | ||
Packaging Corp. of America | 5.700% | 12/1/33 | 9,611 | 9,733 | ||
PPG Industries Inc. | 2.800% | 8/15/29 | 6,979 | 6,219 | ||
PPG Industries Inc. | 2.550% | 6/15/30 | 8,398 | 7,243 | ||
Reliance Inc. | 2.150% | 8/15/30 | 15,121 | 12,550 | ||
Rio Tinto Alcan Inc. | 7.250% | 3/15/31 | 6,806 | 7,507 | ||
Rio Tinto Alcan Inc. | 6.125% | 12/15/33 | 21,914 | 23,084 | ||
Rio Tinto Finance USA plc | 5.000% | 3/9/33 | 13,510 | 13,371 | ||
Rohm & Haas Co. | 7.850% | 7/15/29 | 16,216 | 17,844 | ||
RPM International Inc. | 2.950% | 1/15/32 | 6,867 | 5,719 | ||
Sherwin-Williams Co. | 2.950% | 8/15/29 | 17,894 | 16,033 | ||
Sherwin-Williams Co. | 2.300% | 5/15/30 | 11,800 | 10,052 | ||
Sherwin-Williams Co. | 2.200% | 3/15/32 | 10,277 | 8,297 | ||
2 | Smurfit Kappa Treasury ULC | 5.200% | 1/15/30 | 11,338 | 11,200 | |
2 | Smurfit Kappa Treasury ULC | 5.438% | 4/3/34 | 25,978 | 25,531 | |
Sonoco Products Co. | 3.125% | 5/1/30 | 14,119 | 12,479 | ||
Sonoco Products Co. | 2.850% | 2/1/32 | 14,377 | 12,007 | ||
Steel Dynamics Inc. | 3.450% | 4/15/30 | 14,778 | 13,416 | ||
Steel Dynamics Inc. | 3.250% | 1/15/31 | 16,646 | 14,679 | ||
Suzano Austria GmbH | 5.000% | 1/15/30 | 24,929 | 23,450 | ||
Suzano Austria GmbH | 3.750% | 1/15/31 | 28,597 | 24,684 | ||
1 | Suzano Austria GmbH | 3.125% | 1/15/32 | 26,511 | 21,412 | |
Teck Resources Ltd. | 3.900% | 7/15/30 | 12,664 | 11,655 | ||
Vale Overseas Ltd. | 3.750% | 7/8/30 | 36,802 | 33,062 | ||
Vale Overseas Ltd. | 6.125% | 6/12/33 | 42,350 | 42,491 | ||
Vale Overseas Ltd. | 8.250% | 1/17/34 | 7,848 | 9,137 | ||
Vulcan Materials Co. | 3.500% | 6/1/30 | 19,419 | 17,624 | ||
Westlake Corp. | 3.375% | 6/15/30 | 5,955 | 5,333 | ||
WestRock MWV LLC | 8.200% | 1/15/30 | 11,195 | 12,644 | ||
WestRock MWV LLC | 7.950% | 2/15/31 | 6,193 | 6,993 | ||
WRKCo Inc. | 4.200% | 6/1/32 | 6,849 | 6,353 | ||
WRKCo Inc. | 3.000% | 6/15/33 | 24,485 | 20,396 | ||
Yamana Gold Inc. | 2.630% | 8/15/31 | 12,968 | 10,768 | ||
1,471,893 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Real Estate (5.7%) | ||||||
Agree LP | 2.900% | 10/1/30 | 8,857 | 7,577 | ||
Agree LP | 4.800% | 10/1/32 | 11,898 | 11,166 | ||
Alexandria Real Estate Equities Inc. | 3.950% | 1/15/28 | 1 | 1 | ||
Alexandria Real Estate Equities Inc. | 4.500% | 7/30/29 | 8,670 | 8,321 | ||
Alexandria Real Estate Equities Inc. | 2.750% | 12/15/29 | 4,870 | 4,260 | ||
Alexandria Real Estate Equities Inc. | 4.700% | 7/1/30 | 11,051 | 10,616 | ||
Alexandria Real Estate Equities Inc. | 4.900% | 12/15/30 | 17,822 | 17,359 | ||
Alexandria Real Estate Equities Inc. | 3.375% | 8/15/31 | 17,933 | 15,749 | ||
Alexandria Real Estate Equities Inc. | 2.000% | 5/18/32 | 23,792 | 18,538 | ||
Alexandria Real Estate Equities Inc. | 1.875% | 2/1/33 | 26,731 | 20,038 | ||
Alexandria Real Estate Equities Inc. | 2.950% | 3/15/34 | 19,533 | 15,740 | ||
American Assets Trust LP | 3.375% | 2/1/31 | 12,909 | 10,576 | ||
American Homes 4 Rent LP | 2.375% | 7/15/31 | 11,249 | 9,085 | ||
American Homes 4 Rent LP | 3.625% | 4/15/32 | 17,388 | 15,073 | ||
American Homes 4 Rent LP | 5.500% | 2/1/34 | 15,455 | 15,127 | ||
American Tower Corp. | 3.800% | 8/15/29 | 42,108 | 38,956 | ||
American Tower Corp. | 2.900% | 1/15/30 | 18,188 | 15,938 | ||
American Tower Corp. | 2.100% | 6/15/30 | 14,824 | 12,322 | ||
American Tower Corp. | 1.875% | 10/15/30 | 21,300 | 17,194 | ||
American Tower Corp. | 2.700% | 4/15/31 | 23,589 | 19,839 | ||
American Tower Corp. | 2.300% | 9/15/31 | 12,603 | 10,203 | ||
American Tower Corp. | 4.050% | 3/15/32 | 20,434 | 18,529 | ||
American Tower Corp. | 5.650% | 3/15/33 | 26,505 | 26,561 | ||
American Tower Corp. | 5.550% | 7/15/33 | 24,867 | 24,721 | ||
American Tower Corp. | 5.450% | 2/15/34 | 25,602 | 25,288 | ||
1 | AvalonBay Communities Inc. | 3.300% | 6/1/29 | 6,283 | 5,750 | |
1 | AvalonBay Communities Inc. | 2.300% | 3/1/30 | 9,439 | 8,097 | |
1 | AvalonBay Communities Inc. | 2.450% | 1/15/31 | 10,579 | 8,952 | |
AvalonBay Communities Inc. | 2.050% | 1/15/32 | 14,874 | 12,093 | ||
AvalonBay Communities Inc. | 5.000% | 2/15/33 | 11,636 | 11,293 | ||
AvalonBay Communities Inc. | 5.300% | 12/7/33 | 14,364 | 14,205 | ||
Boston Properties LP | 3.400% | 6/21/29 | 21,830 | 19,321 | ||
Boston Properties LP | 2.900% | 3/15/30 | 14,525 | 12,286 | ||
Boston Properties LP | 3.250% | 1/30/31 | 42,902 | 36,152 | ||
Boston Properties LP | 2.550% | 4/1/32 | 21,956 | 17,106 | ||
Boston Properties LP | 2.450% | 10/1/33 | 14,757 | 10,904 | ||
Boston Properties LP | 6.500% | 1/15/34 | 12,875 | 13,082 | ||
Brixmor Operating Partnership LP | 4.050% | 7/1/30 | 16,639 | 15,320 | ||
Brixmor Operating Partnership LP | 2.500% | 8/16/31 | 8,658 | 7,066 | ||
Brixmor Operating Partnership LP | 5.500% | 2/15/34 | 15,680 | 15,309 | ||
Broadstone Net Lease LLC | 2.600% | 9/15/31 | 9,191 | 7,253 | ||
Camden Property Trust | 3.150% | 7/1/29 | 15,704 | 14,195 | ||
Camden Property Trust | 2.800% | 5/15/30 | 18,868 | 16,542 | ||
Camden Property Trust | 4.900% | 1/15/34 | 11,210 | 10,675 | ||
CBRE Services Inc. | 2.500% | 4/1/31 | 13,138 | 10,837 | ||
COPT Defense Properties LP | 2.000% | 1/15/29 | 8,362 | 7,078 | ||
COPT Defense Properties LP | 2.750% | 4/15/31 | 21,049 | 17,326 | ||
Crown Castle Inc. | 3.100% | 11/15/29 | 11,773 | 10,459 | ||
Crown Castle Inc. | 3.300% | 7/1/30 | 18,039 | 15,959 | ||
Crown Castle Inc. | 2.250% | 1/15/31 | 30,337 | 24,844 | ||
Crown Castle Inc. | 2.100% | 4/1/31 | 25,284 | 20,346 | ||
Crown Castle Inc. | 2.500% | 7/15/31 | 21,943 | 18,025 | ||
Crown Castle Inc. | 5.100% | 5/1/33 | 23,163 | 22,241 | ||
Crown Castle Inc. | 5.800% | 3/1/34 | 22,365 | 22,517 | ||
CubeSmart LP | 3.000% | 2/15/30 | 7,114 | 6,234 | ||
CubeSmart LP | 2.000% | 2/15/31 | 16,037 | 12,792 | ||
CubeSmart LP | 2.500% | 2/15/32 | 16,185 | 13,101 | ||
Digital Realty Trust LP | 3.600% | 7/1/29 | 22,863 | 21,050 | ||
DOC DR LLC | 2.625% | 11/1/31 | 10,283 | 8,456 | ||
EPR Properties | 3.750% | 8/15/29 | 12,875 | 11,436 | ||
EPR Properties | 3.600% | 11/15/31 | 10,811 | 8,976 | ||
Equinix Inc. | 3.200% | 11/18/29 | 30,254 | 27,099 | ||
Equinix Inc. | 2.150% | 7/15/30 | 19,154 | 15,883 | ||
Equinix Inc. | 2.500% | 5/15/31 | 22,162 | 18,390 | ||
Equinix Inc. | 3.900% | 4/15/32 | 29,986 | 27,033 | ||
ERP Operating LP | 3.000% | 7/1/29 | 22,095 | 19,964 | ||
ERP Operating LP | 2.500% | 2/15/30 | 19,521 | 16,897 | ||
ERP Operating LP | 1.850% | 8/1/31 | 15,014 | 12,067 | ||
Essential Properties LP | 2.950% | 7/15/31 | 9,794 | 7,977 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Essex Portfolio LP | 3.000% | 1/15/30 | 14,056 | 12,367 | ||
Essex Portfolio LP | 1.650% | 1/15/31 | 4,234 | 3,320 | ||
Essex Portfolio LP | 2.550% | 6/15/31 | 7,776 | 6,414 | ||
Essex Portfolio LP | 2.650% | 3/15/32 | 16,458 | 13,442 | ||
Extra Space Storage LP | 4.000% | 6/15/29 | 9,505 | 8,887 | ||
Extra Space Storage LP | 5.500% | 7/1/30 | 10,178 | 10,180 | ||
Extra Space Storage LP | 2.200% | 10/15/30 | 10,507 | 8,594 | ||
Extra Space Storage LP | 5.900% | 1/15/31 | 19,680 | 20,024 | ||
Extra Space Storage LP | 2.550% | 6/1/31 | 12,350 | 10,163 | ||
Extra Space Storage LP | 2.400% | 10/15/31 | 14,692 | 11,972 | ||
Extra Space Storage LP | 2.350% | 3/15/32 | 18,314 | 14,506 | ||
Extra Space Storage LP | 5.400% | 2/1/34 | 12,267 | 11,923 | ||
Federal Realty OP LP | 3.200% | 6/15/29 | 9,354 | 8,434 | ||
Federal Realty OP LP | 3.500% | 6/1/30 | 10,203 | 9,196 | ||
GLP Capital LP | 4.000% | 1/15/30 | 17,577 | 15,935 | ||
GLP Capital LP | 4.000% | 1/15/31 | 17,856 | 15,877 | ||
GLP Capital LP | 3.250% | 1/15/32 | 21,528 | 17,879 | ||
GLP Capital LP | 6.750% | 12/1/33 | 3,889 | 4,046 | ||
Healthcare Realty Holdings LP | 3.100% | 2/15/30 | 9,432 | 8,193 | ||
Healthcare Realty Holdings LP | 2.000% | 3/15/31 | 24,481 | 19,223 | ||
Healthpeak OP LLC | 3.500% | 7/15/29 | 19,633 | 18,026 | ||
Healthpeak OP LLC | 3.000% | 1/15/30 | 19,041 | 16,806 | ||
Healthpeak OP LLC | 2.875% | 1/15/31 | 14,855 | 12,735 | ||
Healthpeak OP LLC | 5.250% | 12/15/32 | 18,898 | 18,501 | ||
Highwoods Realty LP | 3.050% | 2/15/30 | 12,323 | 10,370 | ||
Highwoods Realty LP | 2.600% | 2/1/31 | 7,084 | 5,637 | ||
Highwoods Realty LP | 7.650% | 2/1/34 | 11,788 | 12,651 | ||
1 | Host Hotels & Resorts LP | 3.375% | 12/15/29 | 12,810 | 11,380 | |
1 | Host Hotels & Resorts LP | 3.500% | 9/15/30 | 19,235 | 16,966 | |
1 | Host Hotels & Resorts LP | 2.900% | 12/15/31 | 14,127 | 11,724 | |
Invitation Homes Operating Partnership LP | 5.450% | 8/15/30 | 8,767 | 8,734 | ||
Invitation Homes Operating Partnership LP | 2.000% | 8/15/31 | 13,044 | 10,234 | ||
Invitation Homes Operating Partnership LP | 4.150% | 4/15/32 | 14,914 | 13,576 | ||
Invitation Homes Operating Partnership LP | 5.500% | 8/15/33 | 8,921 | 8,800 | ||
Invitation Homes Operating Partnership LP | 2.700% | 1/15/34 | 8,524 | 6,705 | ||
Kilroy Realty LP | 4.250% | 8/15/29 | 11,899 | 10,732 | ||
Kilroy Realty LP | 3.050% | 2/15/30 | 12,514 | 10,520 | ||
Kilroy Realty LP | 2.500% | 11/15/32 | 11,143 | 8,300 | ||
Kilroy Realty LP | 2.650% | 11/15/33 | 13,404 | 9,797 | ||
Kimco Realty OP LLC | 2.700% | 10/1/30 | 7,476 | 6,412 | ||
Kimco Realty OP LLC | 2.250% | 12/1/31 | 13,655 | 10,862 | ||
Kimco Realty OP LLC | 3.200% | 4/1/32 | 15,896 | 13,548 | ||
Kimco Realty OP LLC | 4.600% | 2/1/33 | 19,560 | 18,256 | ||
Kimco Realty OP LLC | 6.400% | 3/1/34 | 10,443 | 11,007 | ||
Kite Realty Group LP | 5.500% | 3/1/34 | 10,499 | 10,237 | ||
Kite Realty Group Trust | 4.750% | 9/15/30 | 10,724 | 10,189 | ||
LXP Industrial Trust | 2.700% | 9/15/30 | 9,966 | 8,307 | ||
LXP Industrial Trust | 2.375% | 10/1/31 | 10,672 | 8,431 | ||
Mid-America Apartments LP | 2.750% | 3/15/30 | 4,241 | 3,732 | ||
Mid-America Apartments LP | 1.700% | 2/15/31 | 18,203 | 14,466 | ||
Mid-America Apartments LP | 5.300% | 2/15/32 | 5,000 | 4,957 | ||
Mid-America Apartments LP | 5.000% | 3/15/34 | 7,973 | 7,696 | ||
National Health Investors Inc. | 3.000% | 2/1/31 | 12,551 | 10,210 | ||
NNN REIT Inc. | 2.500% | 4/15/30 | 7,289 | 6,194 | ||
NNN REIT Inc. | 5.600% | 10/15/33 | 14,291 | 14,216 | ||
NNN REIT Inc. | 5.500% | 6/15/34 | 4,950 | 4,884 | ||
Omega Healthcare Investors Inc. | 3.625% | 10/1/29 | 12,527 | 11,143 | ||
Omega Healthcare Investors Inc. | 3.375% | 2/1/31 | 14,891 | 12,657 | ||
Omega Healthcare Investors Inc. | 3.250% | 4/15/33 | 20,441 | 16,375 | ||
Phillips Edison Grocery Center Operating Partnership I LP | 2.625% | 11/15/31 | 7,725 | 6,261 | ||
Piedmont Operating Partnership LP | 3.150% | 8/15/30 | 7,889 | 6,233 | ||
Piedmont Operating Partnership LP | 2.750% | 4/1/32 | 4,663 | 3,370 | ||
Prologis LP | 3.875% | 9/15/28 | 1 | — | ||
Prologis LP | 2.875% | 11/15/29 | 9,693 | 8,679 | ||
Prologis LP | 2.250% | 4/15/30 | 33,189 | 28,305 | ||
Prologis LP | 1.750% | 7/1/30 | 10,630 | 8,713 | ||
Prologis LP | 1.250% | 10/15/30 | 18,283 | 14,480 | ||
Prologis LP | 1.750% | 2/1/31 | 11,675 | 9,431 | ||
Prologis LP | 1.625% | 3/15/31 | 4,249 | 3,373 | ||
Prologis LP | 2.250% | 1/15/32 | 15,008 | 12,183 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Prologis LP | 4.625% | 1/15/33 | 17,744 | 16,912 | ||
Prologis LP | 4.750% | 6/15/33 | 21,696 | 20,813 | ||
Prologis LP | 5.125% | 1/15/34 | 16,217 | 15,952 | ||
Prologis LP | 5.000% | 3/15/34 | 17,704 | 17,256 | ||
Public Storage Operating Co. | 2.300% | 5/1/31 | 11,892 | 9,915 | ||
Public Storage Operating Co. | 2.250% | 11/9/31 | 27,089 | 22,153 | ||
Public Storage Operating Co. | 5.100% | 8/1/33 | 15,032 | 14,820 | ||
Rayonier LP | 2.750% | 5/17/31 | 7,260 | 5,992 | ||
Realty Income Corp. | 3.250% | 6/15/29 | 13,076 | 11,975 | ||
Realty Income Corp. | 4.000% | 7/15/29 | 12,710 | 11,968 | ||
Realty Income Corp. | 3.100% | 12/15/29 | 12,223 | 10,929 | ||
Realty Income Corp. | 3.400% | 1/15/30 | 12,497 | 11,310 | ||
Realty Income Corp. | 4.850% | 3/15/30 | 15,288 | 14,934 | ||
Realty Income Corp. | 3.250% | 1/15/31 | 29,246 | 25,804 | ||
Realty Income Corp. | 3.200% | 2/15/31 | 10,274 | 8,968 | ||
Realty Income Corp. | 2.700% | 2/15/32 | 3,666 | 3,037 | ||
Realty Income Corp. | 5.625% | 10/13/32 | 25,820 | 26,075 | ||
Realty Income Corp. | 2.850% | 12/15/32 | 22,403 | 18,409 | ||
Realty Income Corp. | 4.900% | 7/15/33 | 14,897 | 14,201 | ||
Realty Income Corp. | 5.125% | 2/15/34 | 16,408 | 15,879 | ||
Regency Centers LP | 2.950% | 9/15/29 | 11,499 | 10,262 | ||
Regency Centers LP | 3.700% | 6/15/30 | 15,848 | 14,466 | ||
Regency Centers LP | 5.250% | 1/15/34 | 11,120 | 10,811 | ||
Rexford Industrial Realty LP | 2.125% | 12/1/30 | 11,847 | 9,627 | ||
Rexford Industrial Realty LP | 2.150% | 9/1/31 | 10,584 | 8,430 | ||
Sabra Health Care LP | 3.900% | 10/15/29 | 16,183 | 14,464 | ||
Sabra Health Care LP | 3.200% | 12/1/31 | 33,986 | 27,977 | ||
Safehold GL Holdings LLC | 2.800% | 6/15/31 | 10,625 | 8,839 | ||
Safehold GL Holdings LLC | 2.850% | 1/15/32 | 7,182 | 5,880 | ||
Simon Property Group LP | 2.450% | 9/13/29 | 29,754 | 25,934 | ||
Simon Property Group LP | 2.650% | 7/15/30 | 21,138 | 18,297 | ||
Simon Property Group LP | 2.200% | 2/1/31 | 13,577 | 11,169 | ||
Simon Property Group LP | 2.250% | 1/15/32 | 15,054 | 12,132 | ||
Simon Property Group LP | 2.650% | 2/1/32 | 13,718 | 11,394 | ||
Simon Property Group LP | 5.500% | 3/8/33 | 15,094 | 15,120 | ||
Simon Property Group LP | 6.250% | 1/15/34 | 5,100 | 5,365 | ||
Store Capital LLC | 2.750% | 11/18/30 | 6,741 | 5,515 | ||
Store Capital LLC | 2.700% | 12/1/31 | 9,440 | 7,548 | ||
Sun Communities Operating LP | 2.700% | 7/15/31 | 23,713 | 19,468 | ||
Sun Communities Operating LP | 4.200% | 4/15/32 | 15,616 | 13,951 | ||
Sun Communities Operating LP | 5.700% | 1/15/33 | 8,302 | 8,176 | ||
Tanger Properties LP | 2.750% | 9/1/31 | 10,612 | 8,624 | ||
1 | UDR Inc. | 4.400% | 1/26/29 | 1 | 1 | |
1 | UDR Inc. | 3.200% | 1/15/30 | 11,082 | 9,923 | |
UDR Inc. | 3.000% | 8/15/31 | 16,181 | 13,849 | ||
1 | UDR Inc. | 2.100% | 8/1/32 | 6,995 | 5,404 | |
1 | UDR Inc. | 1.900% | 3/15/33 | 8,588 | 6,460 | |
1 | UDR Inc. | 2.100% | 6/15/33 | 7,617 | 5,714 | |
Ventas Realty LP | 3.000% | 1/15/30 | 25,464 | 22,299 | ||
Ventas Realty LP | 4.750% | 11/15/30 | 15,065 | 14,367 | ||
Ventas Realty LP | 2.500% | 9/1/31 | 4,994 | 4,077 | ||
VICI Properties LP | 4.950% | 2/15/30 | 28,084 | 26,938 | ||
VICI Properties LP | 5.125% | 5/15/32 | 39,106 | 37,056 | ||
VICI Properties LP | 5.750% | 4/1/34 | 10,056 | 9,893 | ||
Welltower OP LLC | 4.125% | 3/15/29 | 1 | 1 | ||
Welltower OP LLC | 3.100% | 1/15/30 | 16,852 | 15,026 | ||
Welltower OP LLC | 2.750% | 1/15/31 | 14,311 | 12,241 | ||
Welltower OP LLC | 2.800% | 6/1/31 | 19,802 | 16,821 | ||
Welltower OP LLC | 2.750% | 1/15/32 | 11,419 | 9,533 | ||
Welltower OP LLC | 3.850% | 6/15/32 | 13,346 | 11,983 | ||
Weyerhaeuser Co. | 4.000% | 11/15/29 | 20,425 | 19,101 | ||
Weyerhaeuser Co. | 4.000% | 4/15/30 | 26,601 | 24,745 | ||
Weyerhaeuser Co. | 7.375% | 3/15/32 | 17,770 | 19,882 | ||
Weyerhaeuser Co. | 3.375% | 3/9/33 | 10,508 | 8,981 | ||
WP Carey Inc. | 3.850% | 7/15/29 | 8,506 | 7,887 | ||
WP Carey Inc. | 2.400% | 2/1/31 | 13,465 | 11,171 | ||
WP Carey Inc. | 2.450% | 2/1/32 | 8,955 | 7,181 | ||
WP Carey Inc. | 2.250% | 4/1/33 | 8,492 | 6,463 | ||
2,696,689 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Technology (7.7%) | ||||||
Adobe Inc. | 2.300% | 2/1/30 | 33,673 | 29,268 | ||
Adobe Inc. | 4.950% | 4/4/34 | 20,000 | 19,782 | ||
Advanced Micro Devices Inc. | 3.924% | 6/1/32 | 18,528 | 17,138 | ||
Amdocs Ltd. | 2.538% | 6/15/30 | 17,666 | 14,900 | ||
Analog Devices Inc. | 2.100% | 10/1/31 | 31,026 | 25,512 | ||
Analog Devices Inc. | 5.050% | 4/1/34 | 14,850 | 14,744 | ||
Apple Inc. | 3.250% | 8/8/29 | 28,573 | 26,575 | ||
Apple Inc. | 2.200% | 9/11/29 | 44,851 | 39,532 | ||
Apple Inc. | 4.150% | 5/10/30 | 2,891 | 2,823 | ||
Apple Inc. | 1.650% | 5/11/30 | 40,298 | 33,728 | ||
Apple Inc. | 1.250% | 8/20/30 | 44,286 | 35,955 | ||
Apple Inc. | 1.650% | 2/8/31 | 69,191 | 56,881 | ||
Apple Inc. | 1.700% | 8/5/31 | 38,935 | 31,606 | ||
Apple Inc. | 3.350% | 8/8/32 | 45,440 | 40,939 | ||
Apple Inc. | 4.300% | 5/10/33 | 3,865 | 3,787 | ||
Applied Materials Inc. | 1.750% | 6/1/30 | 19,174 | 16,016 | ||
Arrow Electronics Inc. | 2.950% | 2/15/32 | 12,618 | 10,543 | ||
Arrow Electronics Inc. | 5.875% | 4/10/34 | 12,465 | 12,241 | ||
Atlassian Corp. | 5.500% | 5/15/34 | 12,235 | 12,131 | ||
Autodesk Inc. | 2.850% | 1/15/30 | 5,986 | 5,280 | ||
Autodesk Inc. | 2.400% | 12/15/31 | 26,898 | 22,042 | ||
Automatic Data Processing Inc. | 1.250% | 9/1/30 | 27,541 | 22,097 | ||
Avnet Inc. | 3.000% | 5/15/31 | 7,978 | 6,570 | ||
Avnet Inc. | 5.500% | 6/1/32 | 4,820 | 4,606 | ||
Booz Allen Hamilton Inc. | 5.950% | 8/4/33 | 17,070 | 17,547 | ||
Broadcom Inc. | 5.000% | 4/15/30 | 24,175 | 24,035 | ||
Broadcom Inc. | 4.150% | 11/15/30 | 48,385 | 45,352 | ||
2 | Broadcom Inc. | 2.450% | 2/15/31 | 62,332 | 52,052 | |
2 | Broadcom Inc. | 4.150% | 4/15/32 | 36,623 | 33,477 | |
Broadcom Inc. | 4.300% | 11/15/32 | 61,854 | 57,249 | ||
2 | Broadcom Inc. | 2.600% | 2/15/33 | 32,577 | 26,086 | |
2 | Broadcom Inc. | 3.419% | 4/15/33 | 56,307 | 48,107 | |
2 | Broadcom Inc. | 3.469% | 4/15/34 | 80,632 | 68,003 | |
Broadridge Financial Solutions Inc. | 2.900% | 12/1/29 | 12,117 | 10,699 | ||
Broadridge Financial Solutions Inc. | 2.600% | 5/1/31 | 28,622 | 23,941 | ||
CDW LLC | 3.569% | 12/1/31 | 27,453 | 23,753 | ||
2 | CGI Inc. | 2.300% | 9/14/31 | 1 | — | |
CGI Inc. | 2.300% | 9/14/31 | 8,522 | 6,737 | ||
Cintas Corp. No. 2 | 4.000% | 5/1/32 | 17,842 | 16,616 | ||
Cisco Systems Inc. | 4.950% | 2/26/31 | 63,197 | 62,838 | ||
Cisco Systems Inc. | 5.050% | 2/26/34 | 56,865 | 56,492 | ||
Concentrix Corp. | 6.850% | 8/2/33 | 15,872 | 15,542 | ||
Dell International LLC | 5.300% | 10/1/29 | 51,995 | 52,048 | ||
Dell International LLC | 6.200% | 7/15/30 | 11,285 | 11,788 | ||
Dell International LLC | 5.750% | 2/1/33 | 22,749 | 23,260 | ||
Dell International LLC | 5.400% | 4/15/34 | 25,150 | 24,789 | ||
Equifax Inc. | 3.100% | 5/15/30 | 9,333 | 8,280 | ||
Equifax Inc. | 2.350% | 9/15/31 | 36,617 | 29,895 | ||
Fidelity National Information Services Inc. | 2.250% | 3/1/31 | 28,546 | 23,849 | ||
Fidelity National Information Services Inc. | 5.100% | 7/15/32 | 18,898 | 18,628 | ||
Fiserv Inc. | 3.500% | 7/1/29 | 81,585 | 75,259 | ||
Fiserv Inc. | 2.650% | 6/1/30 | 26,410 | 22,806 | ||
Fiserv Inc. | 5.600% | 3/2/33 | 23,922 | 24,019 | ||
Fiserv Inc. | 5.625% | 8/21/33 | 31,572 | 31,731 | ||
Fiserv Inc. | 5.450% | 3/15/34 | 20,107 | 19,939 | ||
Flex Ltd. | 4.875% | 6/15/29 | 18,491 | 17,890 | ||
Flex Ltd. | 4.875% | 5/12/30 | 15,293 | 14,730 | ||
Fortinet Inc. | 2.200% | 3/15/31 | 13,869 | 11,363 | ||
HP Inc. | 3.400% | 6/17/30 | 8,785 | 7,942 | ||
HP Inc. | 2.650% | 6/17/31 | 25,404 | 21,335 | ||
HP Inc. | 4.200% | 4/15/32 | 15,346 | 14,177 | ||
HP Inc. | 5.500% | 1/15/33 | 27,465 | 27,471 | ||
Hubbell Inc. | 2.300% | 3/15/31 | 6,792 | 5,624 | ||
IBM International Capital Pte. Ltd. | 4.900% | 2/5/34 | 44,320 | 42,698 | ||
Intel Corp. | 4.000% | 8/5/29 | 5,518 | 5,251 | ||
Intel Corp. | 2.450% | 11/15/29 | 60,501 | 52,821 | ||
Intel Corp. | 5.125% | 2/10/30 | 30,257 | 30,213 | ||
Intel Corp. | 3.900% | 3/25/30 | 38,937 | 36,372 | ||
Intel Corp. | 2.000% | 8/12/31 | 64,070 | 51,774 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Intel Corp. | 4.150% | 8/5/32 | 55,655 | 51,654 | ||
Intel Corp. | 4.000% | 12/15/32 | 1,664 | 1,520 | ||
Intel Corp. | 5.200% | 2/10/33 | 45,277 | 44,886 | ||
Intel Corp. | 5.150% | 2/21/34 | 22,542 | 22,078 | ||
International Business Machines Corp. | 1.950% | 5/15/30 | 30,912 | 25,868 | ||
International Business Machines Corp. | 2.720% | 2/9/32 | 6,120 | 5,217 | ||
International Business Machines Corp. | 4.400% | 7/27/32 | 19,219 | 18,145 | ||
International Business Machines Corp. | 5.875% | 11/29/32 | 8,573 | 8,972 | ||
International Business Machines Corp. | 4.750% | 2/6/33 | 13,904 | 13,452 | ||
Intuit Inc. | 1.650% | 7/15/30 | 12,501 | 10,274 | ||
Intuit Inc. | 5.200% | 9/15/33 | 33,309 | 33,251 | ||
Jabil Inc. | 3.600% | 1/15/30 | 9,367 | 8,391 | ||
Jabil Inc. | 3.000% | 1/15/31 | 16,492 | 13,991 | ||
Juniper Networks Inc. | 3.750% | 8/15/29 | 15,856 | 14,746 | ||
Juniper Networks Inc. | 2.000% | 12/10/30 | 10,768 | 8,624 | ||
KLA Corp. | 4.650% | 7/15/32 | 23,937 | 23,190 | ||
KLA Corp. | 4.700% | 2/1/34 | 14,975 | 14,443 | ||
Kyndryl Holdings Inc. | 3.150% | 10/15/31 | 28,163 | 23,632 | ||
Kyndryl Holdings Inc. | 6.350% | 2/20/34 | 6,595 | 6,782 | ||
Lam Research Corp. | 1.900% | 6/15/30 | 19,642 | 16,458 | ||
Leidos Inc. | 4.375% | 5/15/30 | 16,412 | 15,436 | ||
Leidos Inc. | 2.300% | 2/15/31 | 23,442 | 19,211 | ||
Leidos Inc. | 5.750% | 3/15/33 | 18,846 | 19,025 | ||
Marvell Technology Inc. | 2.950% | 4/15/31 | 19,187 | 16,417 | ||
Marvell Technology Inc. | 5.950% | 9/15/33 | 10,957 | 11,222 | ||
Micron Technology Inc. | 5.327% | 2/6/29 | 1 | 1 | ||
Micron Technology Inc. | 6.750% | 11/1/29 | 30,145 | 31,983 | ||
Micron Technology Inc. | 4.663% | 2/15/30 | 25,065 | 24,191 | ||
Micron Technology Inc. | 5.300% | 1/15/31 | 980 | 974 | ||
Micron Technology Inc. | 2.703% | 4/15/32 | 26,265 | 21,657 | ||
Micron Technology Inc. | 5.875% | 2/9/33 | 23,716 | 24,258 | ||
Micron Technology Inc. | 5.875% | 9/15/33 | 19,961 | 20,424 | ||
2 | Microsoft Corp. | 1.350% | 9/15/30 | 11,247 | 9,155 | |
Moody's Corp. | 2.000% | 8/19/31 | 15,515 | 12,527 | ||
Moody's Corp. | 4.250% | 8/8/32 | 14,055 | 13,157 | ||
Motorola Solutions Inc. | 2.300% | 11/15/30 | 20,420 | 17,001 | ||
Motorola Solutions Inc. | 2.750% | 5/24/31 | 17,481 | 14,733 | ||
Motorola Solutions Inc. | 5.600% | 6/1/32 | 12,900 | 12,973 | ||
Motorola Solutions Inc. | 5.400% | 4/15/34 | 22,685 | 22,422 | ||
NetApp Inc. | 2.700% | 6/22/30 | 17,763 | 15,332 | ||
NVIDIA Corp. | 2.850% | 4/1/30 | 37,291 | 33,618 | ||
NVIDIA Corp. | 2.000% | 6/15/31 | 31,093 | 25,946 | ||
NXP BV | 4.300% | 6/18/29 | 28,705 | 27,443 | ||
NXP BV | 3.400% | 5/1/30 | 17,873 | 16,110 | ||
NXP BV | 2.500% | 5/11/31 | 27,740 | 23,146 | ||
NXP BV | 2.650% | 2/15/32 | 17,876 | 14,772 | ||
NXP BV | 5.000% | 1/15/33 | 32,670 | 31,724 | ||
Oracle Corp. | 6.150% | 11/9/29 | 17,471 | 18,235 | ||
Oracle Corp. | 2.950% | 4/1/30 | 93,002 | 82,116 | ||
Oracle Corp. | 4.650% | 5/6/30 | 24,259 | 23,607 | ||
Oracle Corp. | 3.250% | 5/15/30 | 14,463 | 13,024 | ||
Oracle Corp. | 2.875% | 3/25/31 | 93,046 | 80,010 | ||
Oracle Corp. | 6.250% | 11/9/32 | 45,516 | 47,987 | ||
Oracle Corp. | 4.900% | 2/6/33 | 39,345 | 38,016 | ||
Qorvo Inc. | 4.375% | 10/15/29 | 21,045 | 19,698 | ||
QUALCOMM Inc. | 2.150% | 5/20/30 | 23,176 | 19,881 | ||
QUALCOMM Inc. | 1.650% | 5/20/32 | 33,562 | 26,180 | ||
QUALCOMM Inc. | 4.250% | 5/20/32 | 12,863 | 12,216 | ||
QUALCOMM Inc. | 5.400% | 5/20/33 | 16,382 | 16,880 | ||
Quanta Services Inc. | 2.900% | 10/1/30 | 23,972 | 20,911 | ||
Quanta Services Inc. | 2.350% | 1/15/32 | 7,795 | 6,298 | ||
RELX Capital Inc. | 3.000% | 5/22/30 | 19,402 | 17,256 | ||
RELX Capital Inc. | 4.750% | 5/20/32 | 13,176 | 12,800 | ||
Roper Technologies Inc. | 2.950% | 9/15/29 | 17,628 | 15,734 | ||
Roper Technologies Inc. | 2.000% | 6/30/30 | 13,412 | 11,138 | ||
Roper Technologies Inc. | 1.750% | 2/15/31 | 25,273 | 20,233 | ||
S&P Global Inc. | 2.500% | 12/1/29 | 12,561 | 11,019 | ||
S&P Global Inc. | 1.250% | 8/15/30 | 7,421 | 5,952 | ||
S&P Global Inc. | 2.900% | 3/1/32 | 43,554 | 37,438 | ||
2 | S&P Global Inc. | 5.250% | 9/15/33 | 17,420 | 17,544 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Salesforce Inc. | 1.950% | 7/15/31 | 41,643 | 34,062 | ||
ServiceNow Inc. | 1.400% | 9/1/30 | 39,664 | 31,918 | ||
Skyworks Solutions Inc. | 3.000% | 6/1/31 | 13,194 | 11,027 | ||
TD SYNNEX Corp. | 6.100% | 4/12/34 | 15,258 | 15,383 | ||
Teledyne FLIR LLC | 2.500% | 8/1/30 | 16,468 | 13,894 | ||
Texas Instruments Inc. | 2.250% | 9/4/29 | 18,095 | 15,908 | ||
Texas Instruments Inc. | 1.750% | 5/4/30 | 11,019 | 9,225 | ||
Texas Instruments Inc. | 1.900% | 9/15/31 | 12,394 | 10,192 | ||
Texas Instruments Inc. | 3.650% | 8/16/32 | 6,343 | 5,765 | ||
Texas Instruments Inc. | 4.900% | 3/14/33 | 22,672 | 22,495 | ||
Texas Instruments Inc. | 4.850% | 2/8/34 | 24,635 | 24,238 | ||
TSMC Arizona Corp. | 2.500% | 10/25/31 | 33,093 | 27,933 | ||
TSMC Arizona Corp. | 4.250% | 4/22/32 | 16,554 | 15,882 | ||
Verisk Analytics Inc. | 5.750% | 4/1/33 | 12,716 | 12,981 | ||
VMware LLC | 4.700% | 5/15/30 | 29,847 | 28,671 | ||
VMware LLC | 2.200% | 8/15/31 | 35,782 | 28,733 | ||
Western Digital Corp. | 3.100% | 2/1/32 | 13,323 | 10,814 | ||
Workday Inc. | 3.800% | 4/1/32 | 33,559 | 30,104 | ||
Xilinx Inc. | 2.375% | 6/1/30 | 19,337 | 16,651 | ||
3,599,655 | ||||||
Utilities (8.6%) | ||||||
1 | AEP Texas Inc. | 2.100% | 7/1/30 | 15,108 | 12,483 | |
AEP Texas Inc. | 4.700% | 5/15/32 | 11,875 | 11,175 | ||
AEP Texas Inc. | 5.400% | 6/1/33 | 11,728 | 11,413 | ||
AEP Texas Inc. | 5.700% | 5/15/34 | 6,500 | 6,438 | ||
AEP Transmission Co. LLC | 5.150% | 4/1/34 | 5,150 | 5,043 | ||
AES Corp. | 2.450% | 1/15/31 | 21,792 | 17,896 | ||
1 | Alabama Power Co. | 1.450% | 9/15/30 | 11,080 | 8,944 | |
Alabama Power Co. | 3.050% | 3/15/32 | 10,114 | 8,715 | ||
Alabama Power Co. | 3.940% | 9/1/32 | 15,513 | 14,199 | ||
Alabama Power Co. | 5.850% | 11/15/33 | 2,328 | 2,417 | ||
Ameren Corp. | 3.500% | 1/15/31 | 24,798 | 22,216 | ||
Ameren Illinois Co. | 1.550% | 11/15/30 | 12,073 | 9,666 | ||
Ameren Illinois Co. | 3.850% | 9/1/32 | 7,916 | 7,154 | ||
Ameren Illinois Co. | 4.950% | 6/1/33 | 12,457 | 12,103 | ||
American Electric Power Co. Inc. | 2.300% | 3/1/30 | 10,068 | 8,490 | ||
American Electric Power Co. Inc. | 5.950% | 11/1/32 | 10,250 | 10,469 | ||
American Electric Power Co. Inc. | 5.625% | 3/1/33 | 22,074 | 21,951 | ||
American Water Capital Corp. | 3.450% | 6/1/29 | 9,830 | 9,101 | ||
American Water Capital Corp. | 2.800% | 5/1/30 | 3,626 | 3,174 | ||
American Water Capital Corp. | 2.300% | 6/1/31 | 14,042 | 11,633 | ||
American Water Capital Corp. | 4.450% | 6/1/32 | 20,447 | 19,467 | ||
American Water Capital Corp. | 5.150% | 3/1/34 | 18,155 | 17,927 | ||
1 | Appalachian Power Co. | 2.700% | 4/1/31 | 15,916 | 13,406 | |
1 | Appalachian Power Co. | 4.500% | 8/1/32 | 21,322 | 19,599 | |
Appalachian Power Co. | 5.650% | 4/1/34 | 8,640 | 8,534 | ||
Arizona Public Service Co. | 2.600% | 8/15/29 | 8,463 | 7,439 | ||
Arizona Public Service Co. | 6.350% | 12/15/32 | 11,812 | 12,367 | ||
Arizona Public Service Co. | 5.550% | 8/1/33 | 13,455 | 13,316 | ||
Arizona Public Service Co. | 5.700% | 8/15/34 | 4,200 | 4,198 | ||
Atlantic City Electric Co. | 2.300% | 3/15/31 | 11,438 | 9,508 | ||
Atmos Energy Corp. | 2.625% | 9/15/29 | 13,751 | 12,232 | ||
Atmos Energy Corp. | 1.500% | 1/15/31 | 15,371 | 12,258 | ||
Atmos Energy Corp. | 5.450% | 10/15/32 | 7,686 | 7,790 | ||
Atmos Energy Corp. | 5.900% | 11/15/33 | 9,155 | 9,562 | ||
Avangrid Inc. | 3.800% | 6/1/29 | 20,816 | 19,215 | ||
Baltimore Gas & Electric Co. | 2.250% | 6/15/31 | 9,720 | 8,072 | ||
Berkshire Hathaway Energy Co. | 3.700% | 7/15/30 | 32,415 | 29,928 | ||
Berkshire Hathaway Energy Co. | 1.650% | 5/15/31 | 13,018 | 10,257 | ||
Black Hills Corp. | 3.050% | 10/15/29 | 10,675 | 9,466 | ||
Black Hills Corp. | 2.500% | 6/15/30 | 7,649 | 6,359 | ||
Black Hills Corp. | 4.350% | 5/1/33 | 10,915 | 9,773 | ||
Black Hills Corp. | 6.150% | 5/15/34 | 11,256 | 11,440 | ||
1 | CenterPoint Energy Houston Electric LLC | 2.350% | 4/1/31 | 10,322 | 8,654 | |
1 | CenterPoint Energy Houston Electric LLC | 3.000% | 3/1/32 | 7,783 | 6,656 | |
1 | CenterPoint Energy Houston Electric LLC | 4.450% | 10/1/32 | 15,036 | 14,215 | |
CenterPoint Energy Houston Electric LLC | 4.950% | 4/1/33 | 18,830 | 18,326 | ||
CenterPoint Energy Houston Electric LLC | 5.150% | 3/1/34 | 9,525 | 9,390 | ||
CenterPoint Energy Inc. | 2.950% | 3/1/30 | 9,187 | 8,094 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
CenterPoint Energy Inc. | 2.650% | 6/1/31 | 16,886 | 14,181 | ||
CenterPoint Energy Resources Corp. | 1.750% | 10/1/30 | 12,938 | 10,476 | ||
CenterPoint Energy Resources Corp. | 5.400% | 3/1/33 | 20,048 | 19,962 | ||
Cleco Corporate Holdings LLC | 3.375% | 9/15/29 | 1,330 | 1,146 | ||
1 | CMS Energy Corp. | 4.750% | 6/1/50 | 12,629 | 11,590 | |
Commonwealth Edison Co. | 2.200% | 3/1/30 | 6,376 | 5,406 | ||
1 | Commonwealth Edison Co. | 3.150% | 3/15/32 | 6,625 | 5,749 | |
Commonwealth Edison Co. | 4.900% | 2/1/33 | 11,027 | 10,740 | ||
Commonwealth Edison Co. | 5.300% | 6/1/34 | 6,500 | 6,474 | ||
1 | Connecticut Light & Power Co. | 2.050% | 7/1/31 | 9,285 | 7,545 | |
Connecticut Light & Power Co. | 4.900% | 7/1/33 | 7,021 | 6,810 | ||
1 | Consolidated Edison Co. of New York Inc. | 3.350% | 4/1/30 | 17,216 | 15,690 | |
Consolidated Edison Co. of New York Inc. | 2.400% | 6/15/31 | 24,930 | 20,926 | ||
Consolidated Edison Co. of New York Inc. | 5.200% | 3/1/33 | 10,697 | 10,678 | ||
Consolidated Edison Co. of New York Inc. | 5.500% | 3/15/34 | 5,375 | 5,445 | ||
Consolidated Edison Co. of New York Inc. | 5.375% | 5/15/34 | 9,600 | 9,581 | ||
Constellation Energy Generation LLC | 5.800% | 3/1/33 | 13,306 | 13,532 | ||
Constellation Energy Generation LLC | 6.125% | 1/15/34 | 13,725 | 14,281 | ||
Consumers Energy Co. | 3.600% | 8/15/32 | 15,929 | 14,187 | ||
Consumers Energy Co. | 4.625% | 5/15/33 | 19,322 | 18,453 | ||
1 | Dominion Energy Inc. | 3.375% | 4/1/30 | 48,880 | 43,913 | |
1 | Dominion Energy Inc. | 2.250% | 8/15/31 | 23,585 | 19,082 | |
1 | Dominion Energy Inc. | 4.350% | 8/15/32 | 12,342 | 11,460 | |
Dominion Energy Inc. | 5.375% | 11/15/32 | 29,826 | 29,482 | ||
1 | Dominion Energy Inc. | 7.000% | 6/1/54 | 6,000 | 6,184 | |
1 | Dominion Energy Inc. | 6.875% | 2/1/55 | 12,325 | 12,496 | |
1 | Dominion Energy South Carolina Inc. | 2.300% | 12/1/31 | 13,667 | 11,170 | |
Dominion Energy South Carolina Inc. | 6.625% | 2/1/32 | 4,696 | 5,083 | ||
Dominion Energy South Carolina Inc. | 5.300% | 5/15/33 | 772 | 770 | ||
DTE Electric Co. | 2.250% | 3/1/30 | 19,898 | 17,037 | ||
1 | DTE Electric Co. | 2.625% | 3/1/31 | 14,896 | 12,714 | |
1 | DTE Electric Co. | 3.000% | 3/1/32 | 13,441 | 11,520 | |
DTE Electric Co. | 5.200% | 4/1/33 | 14,763 | 14,728 | ||
DTE Electric Co. | 5.200% | 3/1/34 | 12,075 | 11,937 | ||
1 | DTE Energy Co. | 3.400% | 6/15/29 | 15,387 | 14,013 | |
DTE Energy Co. | 2.950% | 3/1/30 | 2,515 | 2,197 | ||
DTE Energy Co. | 5.850% | 6/1/34 | 2,400 | 2,429 | ||
Duke Energy Carolinas LLC | 2.450% | 8/15/29 | 7,350 | 6,466 | ||
Duke Energy Carolinas LLC | 2.450% | 2/1/30 | 7,401 | 6,419 | ||
Duke Energy Carolinas LLC | 2.550% | 4/15/31 | 24,467 | 20,760 | ||
Duke Energy Carolinas LLC | 2.850% | 3/15/32 | 6,183 | 5,259 | ||
Duke Energy Carolinas LLC | 4.950% | 1/15/33 | 35,861 | 35,064 | ||
Duke Energy Carolinas LLC | 4.850% | 1/15/34 | 19,136 | 18,458 | ||
Duke Energy Corp. | 3.400% | 6/15/29 | 17,100 | 15,728 | ||
Duke Energy Corp. | 2.450% | 6/1/30 | 20,353 | 17,369 | ||
Duke Energy Corp. | 2.550% | 6/15/31 | 31,094 | 26,011 | ||
Duke Energy Corp. | 4.500% | 8/15/32 | 28,982 | 27,117 | ||
Duke Energy Corp. | 5.750% | 9/15/33 | 16,613 | 16,821 | ||
Duke Energy Florida LLC | 2.500% | 12/1/29 | 17,844 | 15,682 | ||
Duke Energy Florida LLC | 1.750% | 6/15/30 | 11,358 | 9,347 | ||
Duke Energy Florida LLC | 2.400% | 12/15/31 | 18,019 | 14,905 | ||
Duke Energy Florida LLC | 5.875% | 11/15/33 | 18,046 | 18,759 | ||
Duke Energy Indiana LLC | 5.250% | 3/1/34 | 5,800 | 5,781 | ||
Duke Energy Ohio Inc. | 2.125% | 6/1/30 | 3,334 | 2,786 | ||
Duke Energy Ohio Inc. | 5.250% | 4/1/33 | 8,952 | 8,861 | ||
Duke Energy Progress LLC | 2.000% | 8/15/31 | 16,466 | 13,378 | ||
Duke Energy Progress LLC | 5.250% | 3/15/33 | 10,606 | 10,542 | ||
Duke Energy Progress LLC | 5.100% | 3/15/34 | 13,885 | 13,652 | ||
2 | East Ohio Gas Co. | 2.000% | 6/15/30 | 1,200 | 982 | |
Edison International | 6.950% | 11/15/29 | 8,499 | 9,038 | ||
Emera US Finance LP | 2.639% | 6/15/31 | 11,516 | 9,394 | ||
Entergy Arkansas LLC | 5.150% | 1/15/33 | 11,160 | 11,009 | ||
Entergy Arkansas LLC | 5.300% | 9/15/33 | 7,097 | 7,057 | ||
Entergy Arkansas LLC | 5.450% | 6/1/34 | 8,500 | 8,462 | ||
Entergy Corp. | 2.800% | 6/15/30 | 13,048 | 11,314 | ||
Entergy Corp. | 2.400% | 6/15/31 | 17,148 | 14,093 | ||
Entergy Corp. | 7.125% | 12/1/54 | 26,000 | 25,879 | ||
Entergy Louisiana LLC | 1.600% | 12/15/30 | 7,144 | 5,689 | ||
Entergy Louisiana LLC | 3.050% | 6/1/31 | 8,310 | 7,192 | ||
Entergy Louisiana LLC | 2.350% | 6/15/32 | 12,527 | 10,077 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
Entergy Louisiana LLC | 5.350% | 3/15/34 | 13,375 | 13,199 | ||
Entergy Texas Inc. | 1.750% | 3/15/31 | 18,406 | 14,832 | ||
Essential Utilities Inc. | 2.704% | 4/15/30 | 9,494 | 8,150 | ||
Essential Utilities Inc. | 2.400% | 5/1/31 | 6,877 | 5,642 | ||
Essential Utilities Inc. | 5.375% | 1/15/34 | 15,900 | 15,517 | ||
Evergy Inc. | 2.900% | 9/15/29 | 34,874 | 30,978 | ||
Evergy Kansas Central Inc. | 5.900% | 11/15/33 | 2,800 | 2,873 | ||
1 | Evergy Metro Inc. | 2.250% | 6/1/30 | 4,578 | 3,867 | |
Evergy Metro Inc. | 4.950% | 4/15/33 | 3,631 | 3,502 | ||
Evergy Metro Inc. | 5.400% | 4/1/34 | 10,000 | 9,891 | ||
2 | Evergy Missouri West Inc. | 5.650% | 6/1/34 | 6,250 | 6,245 | |
1 | Eversource Energy | 1.650% | 8/15/30 | 18,185 | 14,517 | |
Eversource Energy | 2.550% | 3/15/31 | 13,648 | 11,272 | ||
Eversource Energy | 5.850% | 4/15/31 | 26,620 | 26,866 | ||
Eversource Energy | 3.375% | 3/1/32 | 21,987 | 18,792 | ||
Eversource Energy | 5.125% | 5/15/33 | 19,984 | 19,149 | ||
Eversource Energy | 5.500% | 1/1/34 | 5,595 | 5,479 | ||
Eversource Energy | 5.950% | 7/15/34 | 18,200 | 18,342 | ||
Exelon Corp. | 4.050% | 4/15/30 | 29,184 | 27,366 | ||
Exelon Corp. | 3.350% | 3/15/32 | 21,446 | 18,704 | ||
Exelon Corp. | 5.300% | 3/15/33 | 19,405 | 19,223 | ||
Exelon Corp. | 5.450% | 3/15/34 | 15,515 | 15,383 | ||
FirstEnergy Corp. | 2.650% | 3/1/30 | 13,352 | 11,483 | ||
1 | FirstEnergy Corp. | 2.250% | 9/1/30 | 17,065 | 14,109 | |
Florida Power & Light Co. | 4.625% | 5/15/30 | 17,440 | 17,064 | ||
Florida Power & Light Co. | 2.450% | 2/3/32 | 30,496 | 25,289 | ||
Florida Power & Light Co. | 5.100% | 4/1/33 | 24,964 | 24,708 | ||
Florida Power & Light Co. | 4.800% | 5/15/33 | 20,558 | 19,959 | ||
Florida Power & Light Co. | 5.625% | 4/1/34 | 4,355 | 4,482 | ||
4 | Florida Power & Light Co. | 5.300% | 6/15/34 | 14,000 | 14,052 | |
1 | Georgia Power Co. | 2.650% | 9/15/29 | 21,411 | 18,988 | |
Georgia Power Co. | 4.700% | 5/15/32 | 18,407 | 17,753 | ||
Georgia Power Co. | 4.950% | 5/17/33 | 28,964 | 28,173 | ||
Georgia Power Co. | 5.250% | 3/15/34 | 21,680 | 21,534 | ||
Interstate Power & Light Co. | 2.300% | 6/1/30 | 8,654 | 7,311 | ||
Interstate Power & Light Co. | 5.700% | 10/15/33 | 7,444 | 7,509 | ||
IPALCO Enterprises Inc. | 4.250% | 5/1/30 | 10,044 | 9,308 | ||
2 | IPALCO Enterprises Inc. | 5.750% | 4/1/34 | 10,400 | 10,270 | |
1 | Kentucky Utilities Co. | 5.450% | 4/15/33 | 9,157 | 9,202 | |
1 | Louisville Gas & Electric Co. | 5.450% | 4/15/33 | 12,218 | 12,248 | |
MidAmerican Energy Co. | 6.750% | 12/30/31 | 785 | 871 | ||
MidAmerican Energy Co. | 5.350% | 1/15/34 | 9,399 | 9,497 | ||
National Fuel Gas Co. | 2.950% | 3/1/31 | 15,136 | 12,638 | ||
National Grid plc | 5.809% | 6/12/33 | 29,599 | 29,704 | ||
National Grid plc | 5.418% | 1/11/34 | 17,838 | 17,389 | ||
National Rural Utilities Cooperative Finance Corp. | 2.400% | 3/15/30 | 14,304 | 12,255 | ||
1 | National Rural Utilities Cooperative Finance Corp. | 5.000% | 2/7/31 | 12,955 | 12,884 | |
National Rural Utilities Cooperative Finance Corp. | 1.350% | 3/15/31 | 12,735 | 9,878 | ||
1 | National Rural Utilities Cooperative Finance Corp. | 1.650% | 6/15/31 | 7,565 | 5,945 | |
1 | National Rural Utilities Cooperative Finance Corp. | 8.000% | 3/1/32 | 9,554 | 11,029 | |
National Rural Utilities Cooperative Finance Corp. | 2.750% | 4/15/32 | 13,769 | 11,487 | ||
National Rural Utilities Cooperative Finance Corp. | 4.023% | 11/1/32 | 6,535 | 5,945 | ||
National Rural Utilities Cooperative Finance Corp. | 5.800% | 1/15/33 | 15,784 | 16,275 | ||
1 | Nevada Power Co. | 2.400% | 5/1/30 | 8,424 | 7,164 | |
NextEra Energy Capital Holdings Inc. | 2.750% | 11/1/29 | 25,834 | 22,851 | ||
NextEra Energy Capital Holdings Inc. | 2.250% | 6/1/30 | 55,522 | 46,895 | ||
NextEra Energy Capital Holdings Inc. | 2.440% | 1/15/32 | 22,390 | 18,303 | ||
NextEra Energy Capital Holdings Inc. | 5.000% | 7/15/32 | 27,335 | 26,651 | ||
NextEra Energy Capital Holdings Inc. | 5.050% | 2/28/33 | 25,059 | 24,394 | ||
NextEra Energy Capital Holdings Inc. | 5.250% | 3/15/34 | 28,542 | 27,964 | ||
NextEra Energy Capital Holdings Inc. | 6.700% | 9/1/54 | 26,600 | 26,536 | ||
1 | NextEra Energy Capital Holdings Inc. | 5.650% | 5/1/79 | 3,414 | 3,245 | |
NiSource Inc. | 2.950% | 9/1/29 | 25,013 | 22,366 | ||
NiSource Inc. | 3.600% | 5/1/30 | 25,692 | 23,442 | ||
NiSource Inc. | 1.700% | 2/15/31 | 24,539 | 19,471 | ||
NiSource Inc. | 5.400% | 6/30/33 | 9,067 | 8,940 | ||
NiSource Inc. | 5.350% | 4/1/34 | 15,169 | 14,841 | ||
NiSource Inc. | 6.950% | 11/30/54 | 10,000 | 10,005 | ||
Northern States Power Co. | 2.250% | 4/1/31 | 3,538 | 2,952 | ||
NSTAR Electric Co. | 3.950% | 4/1/30 | 4,052 | 3,780 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
NSTAR Electric Co. | 5.400% | 6/1/34 | 5,000 | 4,993 | ||
1 | Ohio Power Co. | 2.600% | 4/1/30 | 10,363 | 8,950 | |
1 | Ohio Power Co. | 1.625% | 1/15/31 | 15,556 | 12,377 | |
Ohio Power Co. | 5.000% | 6/1/33 | 6,195 | 5,978 | ||
Ohio Power Co. | 5.650% | 6/1/34 | 11,400 | 11,425 | ||
Oklahoma Gas & Electric Co. | 3.300% | 3/15/30 | 5,982 | 5,376 | ||
Oklahoma Gas & Electric Co. | 3.250% | 4/1/30 | 7,688 | 6,880 | ||
Oklahoma Gas & Electric Co. | 5.400% | 1/15/33 | 12,314 | 12,324 | ||
Oncor Electric Delivery Co. LLC | 2.750% | 5/15/30 | 22,873 | 20,075 | ||
Oncor Electric Delivery Co. LLC | 4.150% | 6/1/32 | 20,744 | 19,240 | ||
Oncor Electric Delivery Co. LLC | 4.550% | 9/15/32 | 17,826 | 16,929 | ||
Oncor Electric Delivery Co. LLC | 5.650% | 11/15/33 | 25,960 | 26,538 | ||
ONE Gas Inc. | 2.000% | 5/15/30 | 7,536 | 6,316 | ||
ONE Gas Inc. | 4.250% | 9/1/32 | 7,775 | 7,281 | ||
Pacific Gas & Electric Co. | 4.550% | 7/1/30 | 70,922 | 66,952 | ||
Pacific Gas & Electric Co. | 2.500% | 2/1/31 | 69,831 | 57,520 | ||
Pacific Gas & Electric Co. | 3.250% | 6/1/31 | 25,951 | 22,299 | ||
Pacific Gas & Electric Co. | 4.400% | 3/1/32 | 6,112 | 5,585 | ||
Pacific Gas & Electric Co. | 5.900% | 6/15/32 | 20,598 | 20,741 | ||
Pacific Gas & Electric Co. | 6.150% | 1/15/33 | 24,774 | 25,283 | ||
Pacific Gas & Electric Co. | 6.400% | 6/15/33 | 29,385 | 30,514 | ||
Pacific Gas & Electric Co. | 6.950% | 3/15/34 | 19,375 | 20,894 | ||
Pacific Gas & Electric Co. | 5.800% | 5/15/34 | 29,990 | 29,916 | ||
PacifiCorp | 3.500% | 6/15/29 | 15,988 | 14,735 | ||
PacifiCorp | 2.700% | 9/15/30 | 10,086 | 8,644 | ||
PacifiCorp | 5.300% | 2/15/31 | 17,506 | 17,306 | ||
PacifiCorp | 5.450% | 2/15/34 | 27,105 | 26,507 | ||
PECO Energy Co. | 4.900% | 6/15/33 | 16,231 | 15,852 | ||
Piedmont Natural Gas Co. Inc. | 3.500% | 6/1/29 | 16,036 | 14,760 | ||
Piedmont Natural Gas Co. Inc. | 2.500% | 3/15/31 | 10,965 | 9,152 | ||
Piedmont Natural Gas Co. Inc. | 5.400% | 6/15/33 | 9,742 | 9,704 | ||
Potomac Electric Power Co. | 5.200% | 3/15/34 | 7,836 | 7,796 | ||
PPL Electric Utilities Corp. | 5.000% | 5/15/33 | 15,147 | 14,854 | ||
PPL Electric Utilities Corp. | 4.850% | 2/15/34 | 16,064 | 15,532 | ||
Progress Energy Inc. | 7.750% | 3/1/31 | 21,334 | 24,048 | ||
Progress Energy Inc. | 7.000% | 10/30/31 | 20,756 | 22,714 | ||
1 | Public Service Co. of Colorado | 1.900% | 1/15/31 | 10,060 | 8,142 | |
Public Service Co. of Colorado | 1.875% | 6/15/31 | 24,289 | 19,419 | ||
1 | Public Service Co. of Colorado | 4.100% | 6/1/32 | 7,406 | 6,793 | |
Public Service Co. of Colorado | 5.350% | 5/15/34 | 7,650 | 7,580 | ||
Public Service Co. of New Hampshire | 5.350% | 10/1/33 | 17,222 | 17,257 | ||
Public Service Co. of Oklahoma | 5.250% | 1/15/33 | 5,768 | 5,617 | ||
1 | Public Service Electric & Gas Co. | 2.450% | 1/15/30 | 8,280 | 7,164 | |
1 | Public Service Electric & Gas Co. | 1.900% | 8/15/31 | 8,460 | 6,790 | |
1 | Public Service Electric & Gas Co. | 3.100% | 3/15/32 | 23,777 | 20,582 | |
1 | Public Service Electric & Gas Co. | 4.900% | 12/15/32 | 9,101 | 8,882 | |
1 | Public Service Electric & Gas Co. | 4.650% | 3/15/33 | 13,946 | 13,375 | |
Public Service Electric & Gas Co. | 5.200% | 8/1/33 | 12,343 | 12,275 | ||
1 | Public Service Electric & Gas Co. | 5.200% | 3/1/34 | 10,120 | 10,065 | |
Public Service Enterprise Group Inc. | 1.600% | 8/15/30 | 14,162 | 11,356 | ||
Public Service Enterprise Group Inc. | 2.450% | 11/15/31 | 18,994 | 15,558 | ||
Public Service Enterprise Group Inc. | 6.125% | 10/15/33 | 7,810 | 8,090 | ||
Public Service Enterprise Group Inc. | 5.450% | 4/1/34 | 13,150 | 12,985 | ||
Puget Energy Inc. | 4.100% | 6/15/30 | 10,574 | 9,633 | ||
Puget Energy Inc. | 4.224% | 3/15/32 | 12,686 | 11,258 | ||
1 | San Diego Gas & Electric Co. | 1.700% | 10/1/30 | 21,074 | 17,090 | |
1 | San Diego Gas & Electric Co. | 3.000% | 3/15/32 | 12,878 | 11,037 | |
Sempra | 5.500% | 8/1/33 | 15,516 | 15,457 | ||
Sempra | 6.875% | 10/1/54 | 27,840 | 27,565 | ||
Southern California Edison Co. | 5.150% | 6/1/29 | 14,700 | 14,647 | ||
Southern California Edison Co. | 2.850% | 8/1/29 | 13,561 | 12,084 | ||
Southern California Edison Co. | 2.250% | 6/1/30 | 14,871 | 12,509 | ||
1 | Southern California Edison Co. | 2.500% | 6/1/31 | 14,554 | 12,116 | |
Southern California Edison Co. | 5.450% | 6/1/31 | 9,850 | 9,882 | ||
Southern California Edison Co. | 2.750% | 2/1/32 | 14,440 | 12,044 | ||
Southern California Edison Co. | 5.950% | 11/1/32 | 14,262 | 14,725 | ||
Southern California Edison Co. | 6.000% | 1/15/34 | 14,277 | 14,739 | ||
Southern California Edison Co. | 5.200% | 6/1/34 | 1,925 | 1,874 | ||
1 | Southern California Gas Co. | 2.550% | 2/1/30 | 11,419 | 9,900 | |
Southern California Gas Co. | 5.200% | 6/1/33 | 13,241 | 13,112 |
Coupon | Maturity Date | Face Amount ($000) | Market Value ($000) | |||
1 | Southern Co. | 3.700% | 4/30/30 | 28,355 | 26,148 | |
Southern Co. | 5.700% | 10/15/32 | 13,783 | 14,050 | ||
Southern Co. | 5.200% | 6/15/33 | 26,058 | 25,570 | ||
Southern Co. | 5.700% | 3/15/34 | 22,926 | 23,277 | ||
1 | Southern Co. Gas Capital Corp. | 1.750% | 1/15/31 | 21,195 | 17,087 | |
Southern Co. Gas Capital Corp. | 5.150% | 9/15/32 | 17,590 | 17,360 | ||
Southern Co. Gas Capital Corp. | 5.750% | 9/15/33 | 18,277 | 18,689 | ||
Southwest Gas Corp. | 2.200% | 6/15/30 | 2,205 | 1,846 | ||
Southwest Gas Corp. | 4.050% | 3/15/32 | 16,104 | 14,542 | ||
Southwestern Electric Power Co. | 5.300% | 4/1/33 | 14,962 | 14,460 | ||
Spire Missouri Inc. | 4.800% | 2/15/33 | 10,213 | 9,817 | ||
Tampa Electric Co. | 2.400% | 3/15/31 | 10,612 | 8,881 | ||
Tucson Electric Power Co. | 1.500% | 8/1/30 | 7,199 | 5,791 | ||
Tucson Electric Power Co. | 3.250% | 5/15/32 | 9,049 | 7,844 | ||
Union Electric Co. | 2.950% | 3/15/30 | 5,795 | 5,131 | ||
Union Electric Co. | 2.150% | 3/15/32 | 7,984 | 6,380 | ||
Union Electric Co. | 5.200% | 4/1/34 | 17,135 | 16,888 | ||
1 | Virginia Electric & Power Co. | 2.875% | 7/15/29 | 21,465 | 19,295 | |
Virginia Electric & Power Co. | 2.300% | 11/15/31 | 13,993 | 11,465 | ||
Virginia Electric & Power Co. | 2.400% | 3/30/32 | 17,759 | 14,503 | ||
Virginia Electric & Power Co. | 5.000% | 4/1/33 | 30,026 | 29,110 | ||
Virginia Electric & Power Co. | 5.300% | 8/15/33 | 12,696 | 12,561 | ||
WEC Energy Group Inc. | 1.800% | 10/15/30 | 12,761 | 10,334 | ||
Wisconsin Electric Power Co. | 4.750% | 9/30/32 | 13,753 | 13,411 | ||
Wisconsin Electric Power Co. | 5.625% | 5/15/33 | 8,470 | 8,798 | ||
Wisconsin Power & Light Co. | 3.000% | 7/1/29 | 8,801 | 7,994 | ||
Wisconsin Power & Light Co. | 1.950% | 9/16/31 | 7,877 | 6,269 | ||
Wisconsin Power & Light Co. | 3.950% | 9/1/32 | 15,340 | 13,909 | ||
Wisconsin Power & Light Co. | 4.950% | 4/1/33 | 8,752 | 8,406 | ||
Wisconsin Power & Light Co. | 5.375% | 3/30/34 | 7,780 | 7,690 | ||
Xcel Energy Inc. | 2.600% | 12/1/29 | 16,427 | 14,298 | ||
Xcel Energy Inc. | 3.400% | 6/1/30 | 14,665 | 13,133 | ||
Xcel Energy Inc. | 2.350% | 11/15/31 | 3,050 | 2,445 | ||
Xcel Energy Inc. | 4.600% | 6/1/32 | 25,475 | 23,734 | ||
Xcel Energy Inc. | 5.450% | 8/15/33 | 18,932 | 18,601 | ||
Xcel Energy Inc. | 5.500% | 3/15/34 | 21,120 | 20,780 | ||
4,027,463 | ||||||
Total Corporate Bonds (Cost $49,263,775) | 46,245,891 | |||||
Shares | ||||||
Temporary Cash Investments (0.1%) | ||||||
Money Market Fund (0.1%) | ||||||
5 | Vanguard Market Liquidity Fund (Cost $75,826) | 5.397% | 758,386 | 75,831 | ||
Total Investments (98.8%) (Cost $49,380,153) | 46,362,364 | |||||
Other Assets and Liabilities—Net (1.2%) | 550,579 | |||||
Net Assets (100%) | 46,912,943 |
Cost is in $000. |
1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
2 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2024, the aggregate value was $728,462,000, representing 1.6% of net assets. |
3 | Securities with a value of $11,272,000 have been segregated as initial margin for open futures contracts. |
4 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2024. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
DAC—Designated Activity Company. | |
REIT—Real Estate Investment Trust. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Ultra 10-Year U.S. Treasury Note | September 2024 | 422 | 47,277 | (107) |
Short Futures Contracts | ||||
10-Year U.S. Treasury Note | September 2024 | (822) | (89,431) | 173 |
66 |
A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and other temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
B. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. Swap Contracts: The fund invests in credit default swaps to adjust the overall credit risk of the fund or to actively overweight or underweight credit risk to a specific issuer or group of issuers. The fund may sell credit protection through credit default swaps to simulate investments in long positions that are either unavailable or considered to be less attractively priced in the bond market. The fund may purchase credit protection through credit default swaps to reduce credit exposure to a given issuer or issuers. Under the terms of the swaps, an up-front payment may be exchanged between the seller and buyer. In addition, the seller of the credit protection receives a periodic payment of premium from the buyer that is a fixed percentage applied to a notional amount. If, for example, the reference entity is subject to a credit event (such as bankruptcy, failure to pay, or obligation acceleration) during the term of the swap, the seller agrees to either physically settle or cash settle the swap contract. If the swap is physically settled, the seller agrees to pay the buyer an amount equal to the notional amount and take delivery of a debt instrument of the reference issuer with a par amount equal to such notional amount. If the swap is cash settled, the seller agrees to pay the buyer the difference between the notional amount and the final price for the relevant debt instrument, as determined either in a market auction or pursuant to a pre-agreed-upon valuation procedure.
The fund enters into centrally cleared credit default swaps to achieve the same objectives specified with respect to the equivalent over-the-counter swaps but with less counterparty risk because a regulated clearinghouse is the counterparty instead of the clearing broker or executing broker. The clearinghouse imposes initial margin requirements to secure the fund's performance, and requires daily settlement of variation margin representing changes in the market value of each contract. To further mitigate counterparty risk, the fund trades with a diverse group of prequalified executing brokers; monitors the financial strength of its clearing brokers, executing brokers, and clearinghouse; and has entered into agreements with its clearing brokers and executing brokers.
The primary risk associated with selling credit protection is that, upon the occurrence of a defined credit event, the market value of the debt instrument received by the fund (or, in a cash settled swap, the debt instruments used to determine the settlement payment by the fund) will be significantly less than the amount paid by the fund and, in a physically settled swap, the fund may receive an illiquid debt instrument. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until the seller of credit protection is required to take delivery (or, in a cash settled swap, pay the settlement amount determined) upon occurrence of a credit event, periodic payments are made, or the swap terminates, at which time realized gain (loss) is recorded. The net premium to be received or paid by the fund under swap contracts is accrued daily and recorded as realized gain (loss) over the life of the contract.
The fund had no open credit default swap contracts at May 31, 2024.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund's investments and derivatives as of May 31, 2024, based on the inputs used to value them:
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 40,642 | — | 40,642 |
Corporate Bonds | — | 46,245,891 | — | 46,245,891 |
Temporary Cash Investments | 75,831 | — | — | 75,831 |
Total | 75,831 | 46,286,533 | — | 46,362,364 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 173 | — | — | 173 |
Liabilities | ||||
Futures Contracts1 | 107 | — | — | 107 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. |