Weitz Funds NPORT-P Large Cap Equity Fund (Dec 2024 report)

1

Conservative

Allocation

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Common

Stocks

-

40.4%

a

Financials

%

of

Net

Assets

Shares

$

Value

Transaction

&

Payment

Processing

Services

4.3

Visa,

Inc.

-

Class

A

17,000

5,372,680‌

Mastercard,

Inc.

-

Class

A

9,500

5,002,415‌

a

Multi-Sector

Holdings

2.6

Berkshire

Hathaway,

Inc.

-

Class

B

(a)

13,500

6,119,280‌

a

Insurance

Brokers

2.5

Aon

plc

-

Class

A

16,750

6,015,930‌

a

Financial

Exchanges

&

Data

1.3

S&P

Global,

Inc.

6,100

3,037,983‌

a

10.7

25,548,288‌

Information

Technology

Systems

Software

2.8

Microsoft

Corp.

9,250

3,898,875‌

Oracle

Corp.

17,000

2,832,880‌

a

Semiconductor

Materials

&

Equipment

2.7

Analog

Devices,

Inc.

20,000

4,249,200‌

Texas

Instruments,

Inc.

11,000

2,062,610‌

a

IT

Consulting

&

Other

Services

2.1

Accenture

plc

-

Class

A

(b)

14,250

5,013,008‌

a

Application

Software

1.2

Roper

Technologies,

Inc.

5,500

2,859,175‌

a

8.8

20,915,748‌

Health

Care

Life

Sciences

Tools

&

Services

5.2

Danaher

Corp.

21,000

4,820,550‌

Thermo

Fisher

Scientific,

Inc.

8,750

4,552,012‌

Bio-Techne

Corp.

40,000

2,881,200‌

a

Health

Care

Services

1.4

Labcorp

Holdings,

Inc.

15,000

3,439,800‌

a

6.6

15,693,562‌

Industrials

Industrial

Machinery

&

Supplies

&

Components

2.5

IDEX

Corp.

16,000

3,348,640‌

Fortive

Corp.

35,000

2,625,000‌

a

Environmental

&

Facilities

Services

1.4

Veralto

Corp.

32,500

3,310,125‌

a

Cargo

Ground

Transportation

1.2

Old

Dominion

Freight

Line,

Inc.

16,000

2,822,400‌

a

Industrial

Conglomerates

0.9

Honeywell

International,

Inc.

9,500

2,145,955‌

a

6.0

14,252,120‌

a

Materials

%

of

Net

Assets

Shares

$

Value

Construction

Materials

3.5

Vulcan

Materials

Co.

17,000

4,372,910‌

Martin

Marietta

Materials,

Inc.

7,500

3,873,750‌

a

Industrial

Gases

1.0

Linde

plc

6,000

2,512,020‌

a

4.5

10,758,680‌

Communication

Services

Cable

&

Satellite

1.3

Comcast

Corp.

-

Class

A

80,000

3,002,400‌

a

Interactive

Media

&

Services

1.2

Alphabet,

Inc.

-

Class

C

15,000

2,856,600‌

a

2.5

5,859,000‌

Consumer

Staples

Distillers

&

Vintners

1.3

Diageo

plc

-

ADR

(b)

24,000

3,051,120‌

a

Total

Common

Stocks

(Cost

$45,739,946)

96,078,518‌

Corporate

Bonds

-

0.2%

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

AutoZone,

Inc.

3.63%

4/15/25

(Cost

$499,973)

500,000

498,380‌

Asset-Backed

Securities

-

6.3%

a

a

a

a

a

Automobile

ARI

Fleet

Lease

Trust

(ARIFL)

Series

2023-B

Class

A2

–6.05%

7/15/32

(c)

115,304

116,565‌

Series

2024-A

Class

A2

–5.3%

11/15/32

(c)

82,047

82,523‌

Series

2024-B

Class

A2

–5.54%

4/15/33

(c)

220,000

221,887‌

BOF

URSA

VI

Funding

Trust

I

(BVABS)

Series

2023-CAR1

Class

A2

–5.54%

10/27/31

(c)

60,602

60,862‌

Series

2023-CAR2

Class

A2

–5.54%

10/27/31

(c)

140,559

141,160‌

CarMax

Auto

Owner

Trust

(CARMX)

Series

2021-3

Class

C

–1.25%

5/17/27

380,000

369,938‌

CFMT

LLC

(CFMT)

Series

2021-AL1

Class

B

–1.39%

9/22/31

(c)

84,110

82,585‌

Chesapeake

Funding

II

LLC

(CFII)

Series

2023-1A

Class

A1

–5.65%

5/15/35

(c)

286,841

288,775‌

Series

2023-2A

Class

A1

–6.16%

10/15/35

(c)

102,752

104,289‌

Series

S2-1A

Class

A1

–5.52%

5/15/36

(c)

95,696

96,777‌

Enterprise

Fleet

Financing

LLC

(EFF)

Series

2023-1

Class

A2

–5.51%

1/22/29

(c)

131,098

131,788‌

Series

2023-2

Class

A2

–5.56%

4/22/30

(c)

265,986

268,352‌

Series

2023-3

Class

A2

–6.4%

3/20/30

(c)

489,391

498,787‌

Series

2024-1

Class

A2

–5.23%

3/20/30

(c)

165,317

166,563‌

Series

2024-2

Class

A3

–5.61%

4/20/28

(c)

300,000

305,389‌

Series

2024-3

Class

A3

–4.98%

8/21/28

(c)

130,000

130,871‌

Series

2024-4

Class

A3

–4.56%

11/20/28

(c)

100,000

99,645‌

Flagship

Credit

Auto

Trust

(FCAT)

Series

2020-4

Class

C

–1.28%

2/16/27

(c)

7,472

7,461‌

2

Conservative

Allocation

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

LAD

Auto

Receivables

Trust

(LADAR)

Series

2022-1A

Class

A

–5.21%

6/15/27

(c)

114,432

114,625‌

Series

2023-1A

Class

A2

–5.68%

10/15/26

(c)

16,207

16,215‌

Series

2023-2A

Class

A2

–5.93%

6/15/27

(c)

87,708

87,933‌

Series

2023-4A

Class

A3

–6.1%

12/15/27

(c)

225,000

226,753‌

Merchants

Fleet

Funding

LLC

(MFF)

Series

2023-1A

Class

A

–7.21%

5/20/36

(c)

319,679

323,597‌

OneMain

Direct

Auto

Receivables

Trust

(ODART)

Series

2021-1A

Class

A

–0.87%

7/14/28

(c)

146,704

144,566‌

Series

2022-1A

Class

C

–1.42%

7/14/28

(c)

447,000

430,887‌

SFS

Auto

Receivables

Securitization

Trust

(SFAST)

Series

2023-1A

Class

A2A

–5.89%

3/22/27

(c)

21,716

21,766‌

Wheels

Fleet

Lease

Funding

LLC

(WFLF)

Series

2023-2A

Class

A

–6.46%

8/18/38

(c)

576,212

587,205‌

Series

2024-2A

Class

A1

–4.87%

6/21/39

(c)

700,000

701,304‌

a

5,829,068‌

a

Collateralized

Loan

Obligations

Audax

Senior

Debt

CLO

6

LLC

(AUDAX)

Series

2021-6A

Class

A1

–6.38%

10/20/33

Floating

Rate

(TSFR3M

+

176)

(c)

(d)

500,000

500,488‌

BlackRock

Rainier

CLO

VI

Ltd.

(BLKMM)

Series

2021-6A

Class

A

–6.58%

4/20/33

Floating

Rate

(TSFR3M

+

196)

(b)

(c)

(d)

500,000

500,623‌

Churchill

Middle

Market

CLO

III

Ltd.

(CHMML)

Series

2021-1A

Class

A1

–6.4%

10/24/33

Floating

Rate

(TSFR3M

+

176)

(b)

(c)

(d)

250,000

250,246‌

Fortress

Credit

Opportunities

XV

CLO

Ltd.

(FCO)

Series

2021-15A

Class

A2

–6.44%

4/25/33

Floating

Rate

(TSFR3M

+

181)

(b)

(c)

(d)

500,000

500,523‌

Golub

Capital

Partners

CLO

54M

LP

(GOCAP)

Series

2021-54A

Class

A2

–6.35%

8/5/33

Floating

Rate

(TSFR3M

+

179)

(b)

(c)

(d)

500,000

500,856‌

Monroe

Capital

MML

CLO

XII

Ltd.

(MCMML)

Series

2021-2A

Class

A1

–6.12%

9/14/33

Floating

Rate

(TSFR3M

+

176)

(b)

(c)

(d)

500,000

500,614‌

a

2,753,350‌

a

Consumer

&

Specialty

Finance

Foundation

Finance

Trust

(FFIN)

Series

2021-2A

Class

A

–2.19%

1/15/42

(c)

85,569

80,228‌

Series

2023-2A

Class

A

–6.53%

6/15/49

(c)

152,591

157,288‌

Series

2024-1A

Class

A

–5.5%

12/15/49

(c)

124,985

126,184‌

Greensky

Home

Improvement

Issuer

Trust

(GSKY)

Series

2024-2

Class

A2

–5.25%

10/27/59

(c)

875,000

876,896‌

Octane

Receivables

Trust

(OCTL)

Series

2021-2A

Class

A

–1.21%

9/20/28

(c)

15,240

15,135‌

Series

2022-1A

Class

A2

–4.18%

3/20/28

(c)

28,704

28,669‌

Series

2022-2A

Class

A

–5.11%

2/22/28

(c)

38,410

38,436‌

Series

2024-2A

Class

A2

–5.8%

7/20/32

(c)

326,679

330,377‌

a

1,653,213‌

a

Equipment

Amur

Equipment

Finance

Receivables

XI

LLC

(AXIS)

Series

2022-2A

Class

A2

–5.3%

6/21/28

(c)

58,413

58,676‌

Amur

Equipment

Finance

Receivables

XII

LLC

(AXIS)

Series

2023-1A

Class

A2

–6.09%

12/20/29

(c)

158,259

160,432‌

Amur

Equipment

Finance

Receivables

XIII

LLC

(AXIS)

Series

2024-1A

Class

A2

–5.38%

1/21/31

(c)

146,401

147,890‌

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Amur

Equipment

Finance

Receivables

XIV

LLC

(AXIS)

Series

2024-2A

Class

A2

–5.19%

7/21/31

(c)

270,000

272,438‌

Dell

Equipment

Finance

Trust

(DEFT)

Series

2023-2

Class

A2

–5.84%

1/22/29

(c)

35,430

35,473‌

Series

2023-3

Class

A2

–6.1%

4/23/29

(c)

55,857

56,041‌

Series

2024-1

Class

A3

–5.39%

3/22/30

(c)

170,000

172,019‌

Series

2024-2

Class

A3

–4.59%

8/22/30

(c)

100,000

100,026‌

Dext

ABS

LLC

(DEXT)

Series

2023-2

Class

A2

–6.56%

5/15/34

(c)

366,111

370,366‌

DLLMT

LLC

(DLLMT)

Series

2024-1A

Class

A3

–4.84%

8/21/28

(c)

230,000

230,820‌

DLLST

LLC

(DLLST)

Series

2024-1A

Class

A3

–5.05%

8/20/27

(c)

110,000

110,578‌

Granite

Park

Equipment

Leasing

LLC

(SCFGP)

Series

2023-1A

Class

A2

–6.51%

5/20/30

(c)

293,192

296,963‌

GreatAmerica

Leasing

Receivables

Funding

LLC

(GALC)

Series

2024-2

Class

A3

–5%

9/15/28

(c)

240,000

242,067‌

HPEFS

Equipment

Trust

(HPEFS)

Series

2023-1A

Class

A2

–5.43%

8/20/25

(c)

61,082

61,121‌

Series

2024-2A

Class

A3

–5.36%

10/20/31

(c)

125,000

126,324‌

Kubota

Credit

Owner

Trust

(KCOT)

Series

2024-2A

Class

A3

–5.26%

11/15/28

(c)

190,000

192,773‌

M&T

Equipment

Notes

(MTLRF)

Series

2024-1

Class

A2

–4.99%

8/18/31

(c)

300,000

300,985‌

MMAF

Equipment

Finance

LLC

(MMAF)

Series

2022-B

Class

A3

–5.61%

7/10/28

(c)

114,815

115,152‌

Series

2023-A

Class

A2

–5.79%

11/13/26

(c)

99,176

99,728‌

SCF

Equipment

Leasing

LLC

(SCFET)

Series

2022-2A

Class

A3

–6.5%

10/21/30

(c)

228,245

229,498‌

SCF

Equipment

Trust

LLC

(SCFET)

Series

2023-1A

Class

A2

–6.56%

1/22/30

(c)

815,118

821,398‌

a

4,200,768‌

a

Other

Verizon

Master

Trust

(VZMT)

Series

2023-7

Class

A1A

–5.67%

11/20/29

465,000

474,769‌

a

Total

Asset-Backed

Securities

(Cost

$14,801,931)

14,911,168‌

Commercial

Mortgage-Backed

Securities

-

1.9%

a

a

a

a

a

AREIT

LLC

(AREIT)

Series

2023-CRE8

Class

AS

–7.25%

8/17/41

Floating

Rate

(TSFR1M

+

287)

(b)

(c)

500,000

503,786‌

AREIT

Trust

(AREIT)

Series

2021-CRE5

Class

A

–5.58%

11/17/38

Floating

Rate

(TSFR1M

+

119)

(b)

(c)

57,097

57,175‌

FS

Rialto

Issuer

LLC

(FSRIA)

Series

2022-FL5

Class

A

–6.67%

6/19/37

Floating

Rate

(TSFR1M

+

230)

(c)

411,810

412,787‌

GPMT

Ltd.

(GPMT)

Series

2021-FL3

Class

A

–5.74%

7/16/35

Floating

Rate

(TSFR1M

+

136)

(b)

(c)

188,874

187,879‌

HERA

Commercial

Mortgage

Ltd.

(HERA)

Series

2021-FL1

Class

A

–5.54%

2/18/38

Floating

Rate

(TSFR1M

+

116)

(b)

(c)

183,207

183,504‌

HGI

CRE

CLO

Ltd.

(HGI)

Series

2021-FL1

Class

A4

–5.56%

6/16/36

Floating

Rate

(TSFR1M

+

116)

(b)

(c)

35,388

35,480‌

3

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Series

2021-FL1

Class

AS

–5.91%

6/16/36

Floating

Rate

(TSFR1M

+

151)

(b)

(c)

500,000

502,395‌

Series

2021-FL2

Class

A4

–5.51%

9/17/36

Floating

Rate

(TSFR1M

+

111)

(b)

(c)

99,709

99,928‌

HIG

RCP

LLC

(HIG)

Series

2023-FL1

Class

A

–6.67%

9/19/38

Floating

Rate

(TSFR1M

+

227)

(c)

91,155

91,491‌

KREF

Ltd.

(KREF)

Series

2021-FL2

Class

A4

–5.57%

2/15/39

Floating

Rate

(TSFR1M

+

118)

(b)

(c)

382,390

380,958‌

Series

2022-FL3

Class

A

–5.82%

2/17/39

Floating

Rate

(TSFR1M

+

145)

(b)

(c)

490,260

492,757‌

LoanCore

Issuer

Ltd.

(LNCR)

Series

2021-CRE5

Class

A

–5.81%

7/15/36

Floating

Rate

(TSFR1M

+

141)

(b)

(c)

302,401

303,649‌

PFP

Ltd.

(PFP)

Series

2022-9

Class

A

–6.67%

8/19/35

Floating

Rate

(TSFR1M

+

227)

(b)

(c)

183,329

183,788‌

Series

2024-11

Class

A

–6.31%

9/17/39

Floating

Rate

(TSFR1M

+

183)

(b)

(c)

195,124

196,074‌

STWD

Ltd.

(STWD)

Series

2022-FL3

Class

A

–5.95%

11/15/38

Floating

Rate

(SOFR30A

+

135)

(b)

(c)

427,241

427,508‌

VMC

Finance

LLC

(VMC)

Series

2021-FL4

Class

A

–5.59%

6/16/36

Floating

Rate

(TSFR1M

+

121)

(c)

24,161

23,950‌

Series

2022-FL5

Class

AS

–7%

2/18/39

Floating

Rate

(SOFR30A

+

240)

(c)

500,000

499,904‌

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$4,546,068)

4,583,013‌

Mortgage-Backed

Securities

-

7.0%

a

a

a

a

a

Federal

Home

Loan

Mortgage

Corporation

Collateralized

Mortgage

Obligations

Series

3649

Class

A

–4%

3/15/25

144

144‌

Series

5436

Class

AB

–5.5%

4/25/49

623,500

620,696‌

Series

5301

Class

ED

–5%

4/25/53

685,254

679,967‌

a

Pass-Through

Securities

Pool#

J14649

–

3.5%

4/1/26

3,425

3,392‌

Pool#

E02948

–

3.5%

7/1/26

9,989

9,872‌

Pool#

J16663

–

3.5%

9/1/26

7,426

7,349‌

Pool#

ZS8692

–

2.5%

4/1/33

98,302

92,084‌

Pool#

SB8257

–

5.5%

9/1/38

998,347

1,005,468‌

Pool#

SB8287

–

5%

3/1/39

760,210

756,866‌

Pool#

SB8293

–

5%

4/1/39

617,919

615,201‌

Series

5407

Class

DA

–5.5%

11/25/49

829,900

837,292‌

Series

5450

Class

KA

–4.5%

6/25/51

949,603

932,406‌

5,560,737‌

a

Federal

National

Mortgage

Association

Collateralized

Mortgage

Obligations

Series

2024-20

Class

HD

–5.5%

3/25/46

417,333

417,478‌

Series

2024-21

Class

DA

–5.5%

12/25/46

413,691

417,828‌

Series

2024-20

Class

CA

–5.5%

1/25/47

709,865

716,285‌

Series

2024-20

Class

EA

–5.5%

8/25/49

701,505

707,330‌

a

Pass-Through

Securities

Pool#

AB1769

–

3%

11/1/25

2,546

2,524‌

Pool#

AB3902

–

3%

11/1/26

11,618

11,455‌

Pool#

AK3264

–

3%

2/1/27

10,699

10,534‌

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Pool#

AB6291

–

3%

9/1/27

71,317

69,989‌

Pool#

MA3189

–

2.5%

11/1/27

57,817

56,320‌

Pool#

MA3791

–

2.5%

9/1/29

161,565

154,907‌

Pool#

BM5708

–

3%

12/1/29

69,576

68,140‌

Pool#

AS7701

–

2.5%

8/1/31

481,425

455,290‌

Pool#

MA3540

–

3.5%

12/1/33

58,230

56,146‌

Pool#

MA5311

–

5%

3/1/39

584,218

581,648‌

3,725,874‌

a

Government

National

Mortgage

Association

Pass-Through

Securities

Pool#

5255

–

3%

12/20/26

11,362

11,213‌

a

Non-Government

Agency

Collateralized

Mortgage

Obligations

Chase

Home

Lending

Mortgage

Trust

(CHASE)

Series

2024-1

Class

A4A

–6%

1/25/55

(c)

(d)

777,114

781,619‌

Series

2024-2

Class

A4A

–6%

2/25/55

(c)

(d)

514,233

516,078‌

Series

2024-9

Class

A6

–5.5%

9/25/55

(c)

(d)

257,640

256,757‌

Flagstar

Mortgage

Trust

(FSMT)

Series

2021-7

Class

B

–2.5%

8/25/51

(c)

(d)

353,806

309,615‌

GS

Mortgage-Backed

Securities

Trust

(GSMBS)

Series

2022-PJ1

Class

AB

–2.5%

5/28/52

(c)

(d)

393,490

341,036‌

Series

2024-PJ8

Class

A8

–5.5%

2/25/55

(c)

(d)

807,833

805,222‌

JPMorgan

Mortgage

Trust

(JPMMT)

Series

2014-5

Class

B

–2.7%

10/25/29

(c)

(d)

25,925

25,212‌

Series

2016-3

Class

A

–2.96%

10/25/46

(c)

(d)

98,286

91,754‌

Series

2017-3

Class

A

–2.5%

8/25/47

(c)

(d)

133,954

115,905‌

Series

2020-7

Class

A

–3%

1/25/51

(c)

(d)

9,502

9,421‌

Series

2020-8

Class

A

–3%

3/25/51

(c)

(d)

38,426

37,545‌

Series

2021-6

Class

B

–2.5%

10/25/51

(c)

(d)

459,284

404,282‌

Series

2021-8

Class

B

–2.5%

12/25/51

(c)

(d)

338,754

297,579‌

Series

2022-2

Class

A4A

–2.5%

8/25/52

(c)

(d)

272,455

236,956‌

Series

2023-6

Class

A4A

–5.5%

12/26/53

(c)

(d)

548,455

546,233‌

Series

2024-2

Class

A6A

–6%

8/25/54

(c)

(d)

353,281

353,530‌

Series

2024-10

Class

A6

–5.5%

3/25/55

(c)

(d)

598,571

595,902‌

JPMorgan

Wealth

Management

(JPMWM)

Series

2020-ATR1

Class

A

–3%

2/25/50

(c)

(d)

3,575

3,561‌

RCKT

Mortgage

Trust

(RCKT)

Series

2021-3

Class

A5

–2.5%

7/25/51

(c)

(d)

314,931

277,236‌

Sequoia

Mortgage

Trust

(SEMT)

Series

2019-CH2

Class

A

–4.5%

8/25/49

(c)

(d)

8,052

7,998‌

Series

2020-3

Class

A

–3%

4/25/50

(c)

(d)

20,981

20,516‌

Series

2023-3

Class

A4

–6%

9/25/53

(c)

(d)

384,281

386,502‌

Series

2024-3

Class

A4

–6%

4/25/54

(c)

(d)

358,226

359,507‌

Series

2024-5

Class

A5

–6%

6/25/54

(c)

(d)

294,672

296,425‌

Series

2024-10

Class

A5

–5.5%

11/25/54

(c)

(d)

407,456

406,174‌

7,482,565‌

a

Total

Mortgage-Backed

Securities

(Cost

$17,078,544)

16,780,389‌

U.S.

Treasuries

-

35.3%

a

a

a

a

a

U.S.

Treasury

Notes

1.13%

1/15/25

2,000,000

1,997,726‌

1.38%

1/31/25

2,000,000

1,995,329‌

2%

2/15/25

2,000,000

1,994,355‌

2.63%

3/31/25

2,000,000

1,992,230‌

2.75%

5/15/25

3,000,000

2,983,774‌

4

Conservative

Allocation

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

0.25%

6/30/25

2,000,000

1,961,834‌

0.25%

7/31/25

2,000,000

1,954,622‌

3.13%

8/15/25

2,000,000

1,986,244‌

2.75%

8/31/25

2,000,000

1,980,502‌

3.5%

9/15/25

2,000,000

1,989,492‌

3%

10/31/25

2,000,000

1,979,858‌

2.25%

11/15/25

2,000,000

1,965,977‌

0.38%

11/30/25

2,000,000

1,931,489‌

0.38%

1/31/26

1,000,000

959,648‌

4%

2/15/26

2,000,000

1,995,042‌

2.38%

4/30/26

2,000,000

1,951,860‌

0.75%

5/31/26

2,000,000

1,905,150‌

1.5%

8/15/26

2,000,000

1,914,865‌

4.63%

9/15/26

2,000,000

2,012,225‌

1.63%

10/31/26

4,000,000

3,817,918‌

2%

11/15/26

3,000,000

2,879,739‌

1.88%

2/28/27

2,000,000

1,902,907‌

2.38%

5/15/27

2,000,000

1,915,659‌

4.63%

6/15/27

2,000,000

2,017,079‌

0.5%

8/31/27

2,000,000

1,812,317‌

4.13%

9/30/27

2,000,000

1,992,414‌

4.13%

10/31/27

2,000,000

1,992,421‌

2.25%

11/15/27

2,000,000

1,891,246‌

3.5%

1/31/28

2,000,000

1,954,505‌

4%

2/29/28

3,000,000

2,973,249‌

3.5%

4/30/28

2,000,000

1,950,019‌

3.63%

5/31/28

2,000,000

1,956,544‌

4.13%

7/31/28

2,000,000

1,986,549‌

4.63%

9/30/28

2,000,000

2,019,170‌

3.13%

11/15/28

2,000,000

1,914,240‌

4%

1/31/29

2,000,000

1,973,073‌

2.63%

2/15/29

3,000,000

2,805,495‌

2.88%

4/30/29

1,000,000

941,434‌

4%

7/31/29

2,000,000

1,968,770‌

4.13%

10/31/29

2,000,000

1,977,436‌

4%

10/31/29

1,000,000

983,366‌

4%

2/28/30

1,000,000

981,721‌

a

Total

U.S.

Treasuries

(Cost

$84,800,609)

84,059,493‌

Cash

Equivalents

-

8.6%

a

a

a

a

a

U.S.

Treasury

Bills,

3.88%

to

4.08%,

1/23/25

to

3/18/25

(e)

17,000,000

16,907,752‌

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(f)

3,600,429

3,600,429‌

a

Total

Cash

Equivalents

(Cost

$20,500,624)

20,508,181‌

Total

Investments

in

Securities

-

99.7%

(Cost

$187,967,695)

237,419,142‌

Other

Assets

Less

Other

Liabilities

-  0.3%

626,891‌

Net

Assets

-

100%

238,046,033‌

Net

Asset

Value

Per

Share

-

Investor

Class

16.85

Net

Asset

Value

Per

Share

-

Institutional

Class

16.88

(a)

Non-income

producing.

(b)

Foreign

domiciled

entity.

(c)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

This

security

may

be

resold

in

transactions

that

are

exempt

from

registration,

normally

to

qualified

institutional

buyers.

(d)

The

interest

rate

resets

periodically

based

on

the

weighted

average

coupons

of

the

underlying

mortgage-related

or

asset-backed

obligations.

(e)

Interest

rates

presented

represent

the

effective

yield

at

December

31,

2024.

(f)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

5

Core

Plus

Income

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Corporate

Bonds

-

11.3%

a

a

a

$

Principal

Amount

$

Value

a

Agree,

LP

5.63%

6/15/34

10,650,000

10,686,813‌

Aircastle,

Ltd.

5.25%

8/11/25

(a)

(b)

5,171,000

5,174,108‌

Allegion

U.S.

Holding

Co.,

Inc.

5.6%

5/29/34

3,000,000

3,017,332‌

Ally

Financial,

Inc.

8%

11/1/31

2,000,000

2,213,809‌

American

Airlines,

Inc./AAdvantage

Loyalty

IP

Ltd.

5.5%

4/20/26

(a)

(b)

1,650,000

1,645,970‌

5.75%

4/20/29

(a)

(b)

1,000,000

992,477‌

Americold

Realty

Operating

Partnership,

LP

5.41%

9/12/34

5,000,000

4,795,846‌

Antares

Holdings,

LP

7.95%

8/11/28

(b)

3,000,000

3,146,585‌

Apollo

Debt

Solutions

BDC

6.9%

4/13/29

(b)

500,000

517,702‌

Ares

Capital

Corp.

2.88%

6/15/28

1,000,000

922,280‌

Ares

Strategic

Income

Fund

6.35%

8/15/29

(b)

5,000,000

5,091,750‌

Ashtead

Capital,

Inc.

4.38%

8/15/27

(b)

1,000,000

983,219‌

4%

5/1/28

(b)

1,070,000

1,028,530‌

2.45%

8/12/31

(b)

500,000

416,070‌

5.55%

5/30/33

(b)

250,000

246,584‌

5.95%

10/15/33

(b)

1,000,000

1,011,958‌

AT&T,

Inc.

6.8%

5/15/36

713,000

768,968‌

Axalta

Coating

Systems

LLC

3.38%

2/15/29

(b)

624,000

567,020‌

Barings

BDC,

Inc.

7%

2/15/29

7,000,000

7,173,695‌

Bath

&

Body

Works,

Inc.

6.95%

3/1/33

3,675,000

3,737,339‌

6.88%

11/1/35

301,000

308,406‌

6.75%

7/1/36

2,756,000

2,804,579‌

Berkshire

Hathaway

Finance

Corp.

4.25%

1/15/49

500,000

418,032‌

Blue

Owl

Credit

Income

Corp.

5.5%

3/21/25

11,807,000

11,809,790‌

7.75%

1/15/29

5,000,000

5,328,289‌

Boeing

Co.

(The)

6.26%

5/1/27

(b)

2,500,000

2,560,156‌

6.3%

5/1/29

(b)

3,000,000

3,111,206‌

Broadcom,

Inc.

3.42%

4/15/33

(b)

350,000

306,541‌

3.14%

11/15/35

(b)

1,014,000

828,534‌

Cantor

Fitzgerald

LP

4.5%

4/14/27

(b)

1,500,000

1,472,329‌

7.2%

12/12/28

(b)

1,000,000

1,045,328‌

Carlisle

Cos.,

Inc.

3.75%

12/1/27

500,000

487,015‌

CDW

LLC

/

CDW

Finance

Corp.

4.25%

4/1/28

4,000,000

3,879,304‌

3.28%

12/1/28

1,000,000

932,131‌

5.55%

8/22/34

5,000,000

4,934,423‌

Charles

Schwab

Corp.

(The)

1.95%

12/1/31

5,000,000

4,081,105‌

a

a

a

$

Principal

Amount

$

Value

a

Charter

Communications

Operating

LLC/Charter

Communications

Operating

Capital

4.2%

3/15/28

650,000

628,646‌

6.1%

6/1/29

5,000,000

5,098,604‌

Choice

Hotels

International,

Inc.

3.7%

1/15/31

250,000

225,104‌

5.85%

8/1/34

3,000,000

3,005,373‌

Cinemark

USA,

Inc.

5.25%

7/15/28

(b)

3,000,000

2,928,343‌

7%

8/1/32

(b)

3,000,000

3,064,035‌

CNX

Resources

Corp.

7.25%

3/1/32

(b)

3,000,000

3,065,313‌

Concentrix

Corp.

6.6%

8/2/28^

3,165,000

3,244,394‌

6.85%

8/2/33^

4,812,000

4,856,900‌

CoStar

Group,

Inc.

2.8%

7/15/30

(b)

5,846,000

5,113,728‌

Cousins

Properties,

LP

5.88%

10/1/34

2,000,000

2,003,418‌

Delta

Air

Lines,

Inc./SkyMiles

IP

Ltd.

4.5%

10/20/25

(a)

(b)

185,000

183,898‌

4.75%

10/20/28

(a)

(b)

1,100,000

1,085,621‌

Devon

Energy

Corp.

5.25%

10/15/27

325,000

325,432‌

4.5%

1/15/30

920,000

890,265‌

Diamondback

Energy,

Inc.

3.25%

12/1/26

75,000

73,078‌

3.5%

12/1/29

100,000

93,056‌

Dick's

Sporting

Goods,

Inc.

3.15%

1/15/32^

1,700,000

1,489,441‌

Dow

Chemical

Co.

(The)

4.25%

10/1/34

1,052,000

956,405‌

Element

Fleet

Management

Corp.

3.85%

6/15/25

(a)

(b)

1,000,000

995,223‌

Energy

Transfer

LP

2.9%

5/15/25

500,000

496,241‌

6%

2/1/29

(b)

1,000,000

1,014,946‌

7.38%

2/1/31

(b)

900,000

942,067‌

Enterprise

Products

Operating

LLC

4.45%

2/15/43

990,000

844,703‌

EPR

Properties

4.75%

12/15/26

1,250,000

1,240,379‌

4.5%

6/1/27

3,330,000

3,274,646‌

4.95%

4/15/28

3,830,000

3,768,668‌

3.6%

11/15/31

350,000

306,394‌

Essential

Properties

LP

2.95%

7/15/31

12,121,000

10,337,568‌

Expedia

Group,

Inc.

3.8%

2/15/28

484,000

467,719‌

3.25%

2/15/30

90,000

83,016‌

Ferguson

Enterprises,

Inc.

5%

10/3/34

3,000,000

2,869,350‌

Gap,

Inc.

(The)

3.88%

10/1/31

(b)

106,000

91,763‌

Gartner,

Inc.

3.75%

10/1/30

(b)

5,000,000

4,567,955‌

Golub

Capital

Private

Credit

Fund

5.8%

9/12/29

(b)

5,000,000

4,898,345‌

HEICO

Corp.

5.25%

8/1/28

3,000,000

3,029,728‌

5.35%

8/1/33

1,000,000

998,193‌

6

Core

Plus

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

Hercules

Capital,

Inc.

2.63%

9/16/26

1,000,000

952,368‌

Highwoods

Realty

LP

3.88%

3/1/27

750,000

729,734‌

3.05%

2/15/30

1,600,000

1,414,014‌

2.6%

2/1/31

500,000

417,508‌

Host

Hotels

&

Resorts

LP

Series

H

3.38%

12/15/29

612,000

560,254‌

5.5%

4/15/35^

5,000,000

4,897,693‌

IDEX

Corp.

4.95%

9/1/29

2,000,000

1,992,551‌

Indiana

Bell

Telephone

Co.,

Inc.

7.3%

8/15/26

535,000

549,502‌

Ingersoll

Rand,

Inc.

5.4%

8/14/28

1,000,000

1,016,304‌

International

Flavors

&

Fragrances,

Inc.

4.45%

9/26/28

1,662,000

1,626,444‌

5%

9/26/48

1,500,000

1,292,628‌

Kilroy

Realty,

LP

2.65%

11/15/33

280,000

214,277‌

Kite

Realty

Group

Trust

4.75%

9/15/30

2,315,000

2,262,128‌

Lennar

Corp.

4.75%

5/30/25

622,000

621,401‌

LKQ

Corp.

6.25%

6/15/33

5,000,000

5,159,684‌

LPL

Holdings,

Inc.

6.75%

11/17/28^

3,000,000

3,152,091‌

LXP

Industrial

Trust

6.75%

11/15/28

3,000,000

3,145,381‌

2.7%

9/15/30

500,000

433,465‌

Manitowoc

Co.,

Inc.

The

9.25%

10/1/31

(b)

1,000,000

1,026,273‌

Markel

Group,

Inc.

3.5%

11/1/27

550,000

531,581‌

Marriott

International,

Inc.

Series

HH

2.85%

4/15/31

500,000

437,070‌

MasTec,

Inc.

4.5%

8/15/28

(b)

3,881,000

3,766,054‌

Masterbrand,

Inc.

7%

7/15/32

(b)

4,000,000

4,032,566‌

Micron

Technology,

Inc.

4.19%

2/15/27

500,000

493,284‌

Mileage

Plus

Holdings

LLC/Mileage

Plus

Intellectual

Property

Assets

Ltd.

6.5%

6/20/27

(b)

992,750

999,722‌

MPLX

LP

4.88%

6/1/25

190,000

189,903‌

4%

3/15/28

85,000

82,539‌

4.8%

2/15/29

250,000

247,979‌

5.5%

6/1/34

5,000,000

4,931,087‌

4.7%

4/15/48

551,000

452,167‌

NNN

REIT,

Inc.

5.5%

6/15/34

5,000,000

4,986,662‌

OneMain

Finance

Corp.

3.88%

9/15/28

1,994,000

1,839,176‌

5.38%

11/15/29

3,303,000

3,178,234‌

Oracle

Corp.

4.13%

5/15/45

1,000,000

790,976‌

3.6%

4/1/50

470,000

329,557‌

a

a

a

$

Principal

Amount

$

Value

a

Owens

Corning

3.5%

2/15/30

200,000

185,960‌

Penske

Truck

Leasing

Co.

Lp

/

PTL

Finance

Corp.

5.35%

1/12/27

(b)

250,000

251,895‌

6.05%

8/1/28

(b)

2,000,000

2,059,642‌

Phillips

Edison

Grocery

Center

Operating

Partnership

I

LP

2.63%

11/15/31

4,100,000

3,435,757‌

5.75%

7/15/34

8,000,000

8,017,519‌

Physicians

Realty

LP

4.3%

3/15/27

1,271,000

1,257,760‌

2.63%

11/1/31

7,577,000

6,412,902‌

Plains

All

American

Pipeline

LP/PAA

Finance

Corp.

3.55%

12/15/29

798,000

742,597‌

4.3%

1/31/43

75,000

59,666‌

Polaris,

Inc.

6.95%

3/15/29

1,000,000

1,053,105‌

Realty

Income

Corp.

4%

7/15/29

2,000,000

1,923,891‌

4.85%

3/15/30

1,000,000

994,446‌

RELX

Capital,

Inc.

4%

3/18/29

500,000

483,238‌

4.75%

5/20/32

250,000

243,986‌

Retail

Opportunity

Investments

Partnership

LP

6.75%

10/15/28

3,445,000

3,651,762‌

Rithm

Capital

Corp.

8%

4/1/29

(b)

11,000,000

11,017,954‌

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co-Issuer,

Inc.

3.88%

3/1/31

(b)

200,000

174,384‌

4%

10/15/33

(b)

1,450,000

1,208,995‌

Sirius

XM

Radio,

LLC

4.13%

7/1/30

(b)

5,000,000

4,369,688‌

Store

Capital

LLC

4.5%

3/15/28

503,000

487,963‌

4.63%

3/15/29

14,538,000

14,015,939‌

2.7%

12/1/31

1,250,000

1,031,415‌

Tapestry,

Inc.

5.1%

3/11/30

3,000,000

2,968,249‌

5.5%

3/11/35

1,000,000

973,184‌

Tempur

Sealy

International,

Inc.

4%

4/15/29

(b)

400,000

368,931‌

3.88%

10/15/31

(b)

1,500,000

1,309,982‌

T-Mobile

USA,

Inc.

2.63%

4/15/26

250,000

243,810‌

3.38%

4/15/29

4,000,000

3,736,357‌

Twilio,

Inc.

3.88%

3/15/31

300,000

269,331‌

United

Rentals

North

America,

Inc.

6.13%

3/15/34

(b)

2,800,000

2,781,601‌

United

Wholesale

Mortgage

LLC

5.75%

6/15/27

(b)

200,000

197,704‌

5.5%

4/15/29

(b)

700,000

674,950‌

UWM

Holdings

LLC

6.63%

2/1/30

(b)

3,000,000

2,984,331‌

VICI

Properties

LP

4.95%

2/15/30

500,000

490,471‌

5.75%

4/1/34

5,000,000

5,049,435‌

VICI

Properties

LP/VICI

Note

Co.,

Inc.

4.13%

8/15/30

(b)

1,120,000

1,041,462‌

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding,

Inc.

7.88%

5/1/27^

(a)

(b)

4,462,000

4,348,299‌

7

a

a

a

$

Principal

Amount

$

Value

a

6.38%

2/1/30

(a)

(b)

100,000

87,484‌

Vontier

Corp.

2.95%

4/1/31

100,000

85,954‌

a

Total

Corporate

Bonds

(Cost

$322,353,104)

326,447,437‌

Corporate

Convertible

Bonds

-

0.0%

a

Redwood

Trust

Holdings,

Inc.

5.75%

10/1/25

(Cost

$500,000)

500,000

497,500‌

Asset-Backed

Securities

-

17.4%

a

Automobile

ACM

Auto

Trust

(ACMAT)

Series

2023-1A

Class

C

–8.59%

1/22/30

(b)

900,229

904,133‌

Series

2023-2A

Class

A

–7.97%

6/20/30

(b)

981,070

985,163‌

Series

2023-2A

Class

B

–9.85%

6/20/30

(b)

7,000,000

7,206,076‌

Series

2024-1A

Class

A

–7.71%

1/21/31

(b)

525,233

526,528‌

AmeriCredit

Automobile

Receivables

Trust

(AMCAR)

Series

2020-3

Class

D

–1.49%

9/18/26

1,250,000

1,236,898‌

Series

2022-1

Class

C

–2.98%

9/20/27

450,000

440,358‌

Arivo

Acceptance

Auto

Loan

Receivables

Trust

(ARIVO)

Series

2022-2A

Class

C

–9.84%

3/15/29

(b)

1,000,000

1,007,326‌

Avid

Automobile

Receivables

Trust

(AVID)

Series

2023-1

Class

B

–7.12%

3/15/27

(b)

1,320,596

1,323,766‌

Bayview

Opportunity

Master

Fund

VII

LLC

(BVCLN)

Series

2024-CAR1

Class

C

–6.07%

12/26/31

Floating

Rate

(SOFR30A

+

150)

(b)

(c)

1,299,807

1,304,534‌

Bayview

Opportunity

Master

Fund

VII

Trust

(BVABS)

Series

2024-CAR1F

Class

A

–6.97%

7/29/32

(b)

1,533,709

1,538,294‌

BOF

URSA

VI

Funding

Trust

I

(BVABS)

Series

2023-CAR1

Class

A2

–5.54%

10/27/31

(b)

303,010

304,309‌

Series

2023-CAR2

Class

A2

–5.54%

10/27/31

(b)

702,794

705,803‌

BOF

VII

AL

Funding

Trust

I

(BVABS)

Series

2023-CAR3

Class

A2

–6.29%

7/26/32

(b)

2,622,028

2,665,646‌

CFMT

LLC

(CFMT)

Series

2021-AL1

Class

B

–1.39%

9/22/31

(b)

196,256

192,697‌

Drive

Auto

Receivables

Trust

(DRIVE)

Series

2021-1

Class

D

–1.45%

1/16/29

329,968

327,012‌

Enterprise

Fleet

Financing

LLC

(EFF)

Series

2023-2

Class

A2

–5.56%

4/22/30

(b)

1,329,929

1,341,758‌

Exeter

Automobile

Receivables

Trust

(EART)

Series

2021-4A

Class

C

–1.46%

10/15/27

4,621

4,616‌

First

Help

Financial

Trust

(FHF)

Series

2023-1A

Class

A2

–6.57%

6/15/28

(b)

1,644,076

1,664,984‌

Series

2023-2A

Class

A2

–6.79%

10/15/29

(b)

1,119,511

1,140,619‌

First

Investors

Auto

Owner

Trust

(FIAOT)

Series

2022-1A

Class

A

–2.03%

1/15/27

(b)

11,357

11,337‌

Series

2022-2A

Class

D

–8.71%

10/16/28

(b)

1,000,000

1,050,344‌

Flagship

Credit

Auto

Trust

(FCAT)

Series

2021-1

Class

E

–2.72%

4/17/28

(b)

1,500,000

1,430,783‌

Series

2021-2

Class

C

–1.27%

6/15/27

(b)

1,295,669

1,278,108‌

Series

2021-3

Class

C

–1.46%

9/15/27

(b)

255,000

250,756‌

Series

2021-4

Class

D

–2.26%

12/15/27

(b)

350,000

330,600‌

GLS

Auto

Receivables

Issuer

Trust

(GCAR)

Series

2021-2A

Class

D

–1.42%

4/15/27

(b)

286,543

282,079‌

Series

2021-3A

Class

C

–1.11%

9/15/26

(b)

24,430

24,393‌

Series

2021-4A

Class

D

–2.48%

10/15/27

(b)

455,000

445,385‌

a

a

a

$

Principal

Amount

$

Value

a

LAD

Auto

Receivables

Trust

(LADAR)

Series

2021-1A

Class

C

–2.35%

4/15/27

(b)

6,500,000

6,451,706‌

Series

2021-1A

Class

D

–3.99%

11/15/29

(b)

3,740,000

3,711,008‌

Series

2022-1A

Class

B

–5.87%

9/15/27

(b)

1,720,000

1,736,232‌

Series

2022-1A

Class

C

–6.85%

4/15/30

(b)

2,000,000

2,043,974‌

Series

2023-1A

Class

D

–7.3%

6/17/30

(b)

3,000,000

3,081,672‌

Series

2023-2A

Class

A2

–5.93%

6/15/27

(b)

877,078

879,336‌

Series

2023-4A

Class

C

–6.76%

3/15/29

(b)

1,510,000

1,552,699‌

Lendbuzz

Auto

Receivables

Trust

(LBZZ)

Series

2024-A

Class

A

–6%

5/15/31

(b)

13,734,000

13,746,635‌

Lendbuzz

Securitization

Trust

(LBZZ)

Series

2023-1A

Class

A2

–6.92%

8/15/28

(b)

2,446,145

2,486,226‌

Series

2023-3A

Class

A2

–7.5%

12/15/28

(b)

5,354,159

5,493,145‌

Series

2024-1A

Class

A2

–6.19%

8/15/29

(b)

1,938,767

1,960,364‌

Series

2024-2A

Class

A2

–5.99%

5/15/29

(b)

5,440,414

5,498,786‌

Series

2024-2A

Class

C

–7.45%

5/15/31

(b)

1,500,000

1,545,315‌

Series

2024-3A

Class

A2

–4.97%

10/15/29

(b)

2,250,000

2,250,500‌

Lobel

Automobile

Receivables

Trust

(LOBEL)

Series

2023-1

Class

A

–6.97%

7/15/26

(b)

87,388

87,447‌

Series

2023-2

Class

A

–7.59%

4/16/29

(b)

310,369

313,337‌

OneMain

Direct

Auto

Receivables

Trust

(ODART)

Series

2021-1A

Class

D

–1.62%

11/14/30

(b)

1,000,000

965,004‌

Series

2022-1A

Class

C

–1.42%

7/14/28

(b)

4,000,000

3,855,812‌

Prestige

Auto

Receivables

Trust

(PART)

Series

2022-1A

Class

C

–7.09%

8/15/28

(b)

1,000,000

1,010,363‌

Research-Driven

Pagaya

Motor

Asset

Trust

(RPM)

Series

2023-3A

Class

A

–7.13%

1/26/32

(b)

3,232,520

3,263,235‌

SAFCO

Auto

Receivables

Trust

(SAFCO)

Series

2024-1A

Class

A

–6.51%

3/20/28

(b)

3,806,355

3,831,565‌

Santander

Bank

NA

(SBCLN)

Series

2021-1A

Class

C

–3.27%

12/15/31

(b)

392

392‌

Tricolor

Auto

Securitization

Trust

(TAST)

Series

2023-1A

Class

B

–6.84%

11/16/26

(b)

452,447

452,672‌

Series

2024-2A

Class

A

–6.36%

12/15/27

(b)

2,218,938

2,236,306‌

United

Auto

Credit

Securitization

Trust

(UACST)

Series

2024-1

Class

B

–6.57%

6/10/27

(b)

2,000,000

2,018,447‌

Series

2024-1

Class

C

–7.06%

10/10/29

(b)

4,000,000

4,058,502‌

Series

2024-1

Class

D

–8.3%

11/12/29

(b)

8,660,000

8,883,626‌

a

113,338,611‌

a

Cell

Tower

VB-S1

Issuer

LLC

(VBTEL)

Series

2024-1A

Class

C2

–5.59%

5/15/54

(b)

7,500,000

7,520,026‌

a

Collateralized

Loan

Obligations

ABPCI

Direct

Lending

Fund

CLO

XII

Ltd.

(ABPCI)

Series

2023-12A

Class

B

–8.1%

4/29/35

Floating

Rate

(TSFR3M

+

350)

(a)

(b)

(c)

2,000,000

2,016,973‌

ABPCI

Direct

Lending

Fund

CLO

XVI,

LP

(ABPCI)

Series

2023-16A

Class

C

–8.82%

2/1/36

Floating

Rate

(TSFR3M

+

425)

(b)

(c)

2,000,000

2,041,950‌

Antares

CLO

Ltd.

(ANTR)

Series

2017-2A

Class

DR

–8.63%

10/20/33

Floating

Rate

(TSFR3M

+

401)

(a)

(b)

(c)

2,000,000

2,003,915‌

Audax

Senior

Debt

CLO

6

LLC

(AUDAX)

Series

2021-6A

Class

B

–6.83%

10/20/33

Floating

Rate

(TSFR3M

+

221)

(b)

(c)

3,000,000

3,006,524‌

Audax

Senior

Debt

CLO

9

LLC

(AUDAX)

Series

2024-9A

Class

A1

–6.72%

4/20/36

Floating

Rate

(TSFR3M

+

210)

(b)

(c)

4,000,000

4,041,302‌

8

Core

Plus

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

AUF

Funding

LLC

(ANTF)

Series

2022-1A

Class

B1

–8.37%

1/20/31

Floating

Rate

(TSFR3M

+

375)

(b)

(c)

1,500,000

1,507,910‌

Barings

Middle

Market

CLO,

Ltd.

(BMM)

Series

2023-IIA

Class

A2

–8.48%

1/20/32

Floating

Rate

(TSFR3M

+

320)

(a)

(b)

(c)

3,000,000

3,012,021‌

Series

2023-IIA

Class

B

–9.43%

1/20/32

Floating

Rate

(TSFR3M

+

415)

(a)

(b)

(c)

3,000,000

3,017,907‌

Series

2023-IIA

Class

C

–11.53%

1/20/32

Floating

Rate

(TSFR3M

+

625)

(a)

(b)

(c)

2,500,000

2,517,928‌

BCC

Middle

Market

CLO

LLC

(BCMM)

Series

2023-1A

Class

B1

–8.42%

7/20/35

Floating

Rate

(TSFR3M

+

380)

(b)

(c)

3,750,000

3,795,718‌

BCRED

MML

CLO

LLC

(BXCMM)

Series

2022-1A

Class

A1

–6.27%

4/20/35

Floating

Rate

(TSFR3M

+

165)

(b)

(c)

1,000,000

1,000,983‌

BlackRock

Elbert

CLO

V

LLC

(ELB)

Series

5A

Class

AR

–6.21%

6/15/34

Floating

Rate

(TSFR3M

+

185)

(b)

(c)

1,039,740

1,041,943‌

BlackRock

Rainier

CLO

VI

Ltd.

(BLKMM)

Series

2021-6A

Class

B

–6.93%

4/20/33

Floating

Rate

(TSFR3M

+

231)

(a)

(b)

(c)

1,800,000

1,804,131‌

Brightwood

Capital

MM

CLO

Ltd.

(BWCAP)

Series

2020-1A

Class

A1R

–7.46%

1/15/31

Floating

Rate

(TSFR3M

+

280)

(a)

(b)

(c)

560,933

561,342‌

Cerberus

Loan

Funding

XLII

LLC

(CERB)

Series

2023-3A

Class

B

–8%

9/13/35

Floating

Rate

(TSFR3M

+

335)

(b)

(c)

1,750,000

1,770,351‌

Cerberus

Loan

Funding

XXVIII,

LP

(CERB)

Series

2020-1A

Class

B

–7.47%

10/15/31

Floating

Rate

(TSFR3M

+

281)

(a)

(b)

(c)

100,478

100,625‌

Series

2020-1A

Class

C

–8.62%

10/15/31

Floating

Rate

(TSFR3M

+

396)

(a)

(b)

(c)

500,000

502,684‌

Cerberus

Loan

Funding

XXXII,

LP

(CERB)

Series

2021-2A

Class

B

–6.82%

4/22/33

Floating

Rate

(TSFR3M

+

216)

(a)

(b)

(c)

1,500,000

1,503,028‌

Cerberus

Loan

Funding

XXXVII,

LP

(CERB)

Series

2022-1A

Class

A2

–4.02%

4/15/34

(b)

1,750,000

1,714,589‌

Churchill

Middle

Market

CLO

III

Ltd.

(CHMML)

Series

2021-1A

Class

A1

–6.4%

10/24/33

Floating

Rate

(TSFR3M

+

176)

(a)

(b)

(c)

1,000,000

1,000,985‌

CIFC-LBC

Middle

Market

CLO

LLC

(CLBC)

Series

2023-1A

Class

B1

–8.17%

10/20/35

Floating

Rate

(TSFR3M

+

355)

(b)

(c)

4,500,000

4,561,158‌

Series

2023-1A

Class

C

–8.92%

10/20/35

Floating

Rate

(TSFR3M

+

430)

(b)

(c)

5,000,000

5,086,373‌

Deerpath

Capital

CLO

Ltd.

(DPATH)

Series

2021-2A

Class

A1

–6.52%

1/15/34

Floating

Rate

(TSFR3M

+

186)

(a)

(b)

(c)

1,000,000

1,001,676‌

Series

2021-2A

Class

C

–7.82%

1/15/34

Floating

Rate

(TSFR3M

+

316)

(a)

(b)

(c)

2,300,000

2,309,951‌

Series

2023-1A

Class

B1

–8.56%

4/15/35

Floating

Rate

(TSFR3M

+

390)

(a)

(b)

(c)

2,500,000

2,522,890‌

Series

2023-1A

Class

C

–9.91%

4/15/35

Floating

Rate

(TSFR3M

+

525)

(a)

(b)

(c)

1,500,000

1,520,097‌

Series

2024-1A

Class

A1

–6.71%

7/15/36

Floating

Rate

(TSFR3M

+

205)

(a)

(b)

(c)

5,000,000

5,056,344‌

Fortress

Credit

Opportunities

IX

CLO

Ltd.

(FCO)

Series

2017-9A

Class

A1TR

–6.47%

10/15/33

Floating

Rate

(TSFR3M

+

181)

(a)

(b)

(c)

1,500,000

1,500,919‌

Fortress

Credit

Opportunities

XV

CLO

Ltd.

(FCO)

Series

2021-15A

Class

B

–6.74%

4/25/33

Floating

Rate

(TSFR3M

+

211)

(a)

(b)

(c)

1,500,000

1,502,923‌

a

a

a

$

Principal

Amount

$

Value

a

Fortress

Credit

Opportunities

XXI

CLO

LLC

(FCO)

Series

2023-21A

Class

AT

–7.27%

1/21/35

Floating

Rate

(TSFR3M

+

265)

(b)

(c)

2,000,000

2,008,066‌

Series

2023-21A

Class

C

–9.52%

1/21/35

Floating

Rate

(TSFR3M

+

490)

(b)

(c)

1,000,000

1,007,318‌

Golub

Capital

Partners

CLO

54M

LP

(GOCAP)

Series

2021-54A

Class

B

–6.67%

8/5/33

Floating

Rate

(TSFR3M

+

211)

(a)

(b)

(c)

500,000

501,004‌

Series

2021-54A

Class

C

–7.47%

8/5/33

Floating

Rate

(TSFR3M

+

291)

(a)

(b)

(c)

1,000,000

1,004,776‌

Guggenheim

MM

CLO

Ltd.

(GUGG)

Series

2021-4A

Class

B

–7.17%

1/15/34

Floating

Rate

(TSFR3M

+

251)

(a)

(b)

(c)

2,500,000

2,505,970‌

Ivy

Hill

Middle

Market

Credit

Fund

IX

Ltd.

(IVYH)

Series

9A

Class

A1TR

–6.25%

4/23/34

Floating

Rate

(TSFR3M

+

162)

(a)

(b)

(c)

1,500,000

1,501,841‌

KKR

Lending

Partners

III

CLO

LLC

(KKRLP)

Series

2021-1A

Class

B

–6.78%

10/20/30

Floating

Rate

(TSFR3M

+

216)

(b)

(c)

3,000,000

3,006,162‌

Maranon

Loan

Funding

Ltd.

(MRNON)

Series

2021-2RA

Class

BR

–6.97%

7/15/33

Floating

Rate

(TSFR3M

+

231)

(a)

(b)

(c)

2,500,000

2,505,618‌

Monroe

Capital

ABS

Funding

II

Ltd.

(MCAF)

Series

2023-1A

Class

A1R

–6.77%

7/22/34

(b)

5,250,000

5,190,477‌

Series

2023-1A

Class

B1R

–7.83%

7/22/34

(b)

2,500,000

2,512,202‌

Monroe

Capital

Funding

CLO

X

Ltd.

(MCFCL)

Series

2023-1A

Class

B

–8.16%

4/15/35

Floating

Rate

(TSFR3M

+

350)

(a)

(b)

(c)

1,500,000

1,511,034‌

Monroe

Capital

MML

CLO

XII

Ltd.

(MCMML)

Series

2021-2A

Class

C

–7.27%

9/14/33

Floating

Rate

(TSFR3M

+

291)

(a)

(b)

(c)

2,000,000

1,998,981‌

Monroe

Capital

MML

CLO

XV

LLC

(MCMML)

Series

2023-1A

Class

A1

–7.13%

9/23/35

Floating

Rate

(TSFR3M

+

250)

(b)

(c)

3,000,000

3,034,067‌

Series

2023-1A

Class

B

–8.08%

9/23/35

Floating

Rate

(TSFR3M

+

345)

(b)

(c)

3,000,000

3,038,566‌

New

Mountain

Guardian

IV

Income

Rated

Feeder

II,

Ltd.

(NMRF)

Series

2024-1A

Class

B

–8.52%

4/5/37

Floating

Rate

(TSFR3M

+

400)

(a)

(b)

(c)

#

4,765,000

4,834,858‌

Series

2024-1A

Class

C

–10.52%

4/5/37

Floating

Rate

(TSFR3M

+

600)

(a)

(b)

(c)

#

3,825,000

3,883,554‌

Series

2024-1A

Class

D

–12.92%

4/5/37

Floating

Rate

(TSFR3M

+

840)

(a)

(b)

(c)

#

3,000,000

3,017,868‌

NXT

Capital

CLO

LLC

(NXTC)

Series

2024-1A

Class

D

–8.6%

1/15/37

Floating

Rate

(TSFR3M

+

425)

(b)

(c)

8,600,000

8,687,124‌

Owl

Rock

CLO

VIII

LLC

(OR)

Series

2022-8A

Class

AT

–7.02%

11/20/34

Floating

Rate

(TSFR3M

+

250)

(b)

(c)

1,000,000

1,004,177‌

Owl

Rock

CLO

XII

LLC

(OR)

Series

2023-12A

Class

B

–8.17%

7/20/34

Floating

Rate

(TSFR3M

+

355)

(b)

(c)

1,000,000

1,004,852‌

PennantPark

CLO

VI

LLC

(PNTPK)

Series

2023-6A

Class

B1

–8.38%

4/22/35

Floating

Rate

(TSFR3M

+

375)

(b)

(c)

2,000,000

2,017,191‌

Starwood

Commercial

Mortgage

Trust

(STWD)

Series

2024-SIF4A

Class

D

–8.65%

10/17/36

Floating

Rate

(TSFR3M

+

400)

(b)

(c)

13,200,000

13,310,689‌

Starwood

Property

Mortgage

Trust

(STWD)

Series

2024-SIF3A

Class

B

–6.9%

4/17/36

Floating

Rate

(TSFR3M

+

225)

(b)

(c)

5,000,000

5,036,732‌

Series

2024-SIF3A

Class

C

–7.5%

4/17/36

Floating

Rate

(TSFR3M

+

285)

(b)

(c)

5,000,000

5,058,522‌

9

a

a

a

$

Principal

Amount

$

Value

a

Series

2024-SIF3A

Class

D

–9.15%

4/17/36

Floating

Rate

(TSFR3M

+

450)

(b)

(c)

5,000,000

5,098,977‌

Windhill

CLO

1,

Ltd.

(WNDHL)

Series

2023-1A

Class

C

–9.13%

10/22/35

Floating

Rate

(TSFR3M

+

450)

(a)

(b)

(c)

9,200,000

9,368,000‌

Windhill

CLO

2,

Ltd.

(WNDHL)

Series

2024-1A

Class

A

–6.26%

10/20/36

Floating

Rate

(TSFR3M

+

170)

(a)

(b)

(c)

4,000,000

4,032,296‌

a

160,706,062‌

a

Consumer

&

Specialty

Finance

ACHV

ABS

Trust

(ACHV)

Series

2024-2PL

Class

C

–5.72%

10/27/31

(b)

7,134,000

7,146,820‌

Affirm

Asset

Securitization

Trust

(AFFRM)

Series

2022-Z1

Class

A

–4.55%

6/15/27

(b)

91,737

91,643‌

Series

2023-X1

Class

A

–7.11%

11/15/28

(b)

124,656

124,968‌

Bankers

Healthcare

Group

Securitization

Trust

(BHG)

Series

2021-A

Class

A

–1.42%

11/17/33

(b)

103,001

100,639‌

Series

2022-B

Class

B

–4.84%

6/18/35

(b)

858,378

856,870‌

Series

2023-A

Class

A

–5.55%

4/17/36

(b)

445,543

446,623‌

Series

2023-B

Class

A

–6.92%

12/17/36

(b)

1,063,125

1,098,765‌

Driven

Brands

Funding

LLC

(HONK)

Series

2019-2A

Class

A2

–3.98%

10/20/49

(b)

463,537

452,875‌

Foundation

Finance

Trust

(FFIN)

Series

2021-1A

Class

B

–1.87%

5/15/41

(b)

2,356,885

2,178,433‌

FREED

ABS

Trust

(FREED)

Series

2022-4FP

Class

C

–8.59%

12/18/29

(b)

273,611

273,981‌

Hilton

Grand

Vacations

Trust

(HGVT)

Series

2020-AA

Class

B

–4.22%

2/25/39

(b)

112,280

110,518‌

LendingPoint

Asset

Securitization

Trust

(LDPT)

Series

2020-REV1

Class

C

–7.7%

10/15/28

(b)

4,951,147

4,860,592‌

LP

LMS

Asset

Securitization

Trust

(LPMS)

Series

2023-1A

Class

A

–8.18%

10/17/33

(b)

323,204

323,758‌

Octane

Receivables

Trust

(OCTL)

Series

2021-1A

Class

B

–1.53%

4/20/27

(b)

391,047

388,010‌

Series

2022-1A

Class

A2

–4.18%

3/20/28

(b)

66,975

66,895‌

Pagaya

AI

Debt

Selection

Trust

(PAID)

Series

2021

Class

B

–1.82%

1/16/29

(b)

95,755

92,987‌

Series

2023-7

Class

C

–8.8%

7/15/31

(b)

7,997,020

8,193,200‌

Series

2023-7

Class

D

–9%

7/15/31

(b)

4,998,138

5,044,976‌

Pagaya

AI

Debt

Trust

(PAID)

Series

2022-5

Class

A

–8.1%

6/17/30

(b)

276,523

279,077‌

Series

2023-1

Class

A

–7.56%

7/15/30

(b)

176,475

176,743‌

Series

2023-3

Class

A

–7.6%

12/16/30

(b)

897,320

902,219‌

Series

2023-5

Class

B

–7.63%

4/15/31

(b)

1,604,373

1,610,872‌

Series

2023-5

Class

C

–9.1%

4/15/31

(b)

2,999,975

3,062,938‌

Series

2023-5

Class

D

–9%

4/15/31

(b)

3,499,970

3,527,276‌

Series

2024-1

Class

A

–6.66%

7/15/31

(b)

750,902

760,182‌

Series

2024-3

Class

B

–6.57%

10/15/31

(b)

7,798,271

7,853,174‌

Prosper

Marketplace

Issuance

Trust

(PMIT)

Series

2023-1A

Class

A

–7.06%

7/16/29

(b)

109,223

109,476‌

Reach

ABS

Trust

(REACH)

Series

2024-1A

Class

A

–6.3%

2/18/31

(b)

770,582

775,539‌

Theorem

Funding

Trust

(THRM)

Series

2022-2A

Class

B

–9.27%

12/15/28

(b)

1,000,000

1,029,517‌

Series

2022-3A

Class

A

–7.6%

4/15/29

(b)

150,238

151,478‌

Upstart

Securitization

Trust

(UPST)

Series

2021-1

Class

C

–4.06%

3/20/31

(b)

48,286

48,000‌

Series

2023-2

Class

A

–6.77%

6/20/33

(b)

1,406,705

1,412,077‌

a

53,551,121‌

a

a

a

$

Principal

Amount

$

Value

a

a

Data

Center

Compass

Datacenters

Issuer

II

LLC

(CMPDC)

Series

2024-1A

Class

A1

–5.25%

2/25/49

(b)

3,250,000

3,236,102‌

Series

2024-2A

Class

A1

–5.02%

8/25/49

(b)

7,750,000

7,620,039‌

Databank

Issuer

(COLO)

Series

2024-1A

Class

A2

–5.3%

1/26/54

(b)

5,750,000

5,638,786‌

Retained

Vantage

Data

Centers

Issuer

LLC

(VDCR)

Series

2024-1A

Class

A2

–4.99%

9/15/49

(b)

3,500,000

3,397,834‌

Series

2024-1A

Class

B

–5.78%

9/15/49

(b)

2,000,000

1,960,366‌

Stack

Infrastructure

Issuer

LLC

(SIDC)

Series

2023-3A

Class

A2

–5.9%

10/25/48

(b)

4,250,000

4,290,400‌

Switch

ABS

Issuer,

LLC

(SWTCH)

Series

2024-1A

Class

A2

–6.28%

3/25/54

(b)

6,600,000

6,699,392‌

Series

2024-2A

Class

C

–10.03%

6/25/54

(b)

10,000,000

10,361,566‌

a

43,204,485‌

a

Equipment

Amur

Equipment

Finance

Receivables

IX

LLC

(AXIS)

Series

2021-1A

Class

D

–2.3%

11/22/27

(b)

500,000

499,222‌

Amur

Equipment

Finance

Receivables

XII

LLC

(AXIS)

Series

2023-1A

Class

A2

–6.09%

12/20/29

(b)

633,035

641,729‌

a

1,140,951‌

a

Fiber

ALLO

Issuer

LLC

(ALLO)

Series

2024-1A

Class

A2

–5.94%

7/20/54

(b)

3,000,000

3,031,298‌

Series

2024-1A

Class

B

–7.15%

7/20/54

(b)

2,500,000

2,551,087‌

Series

2024-1A

Class

C

–11.19%

7/20/54

(b)

7,500,000

7,972,021‌

Frontier

Issuer

LLC

(FYBR)

Series

2023-1

Class

A2

–6.6%

8/20/53

(b)

10,000,000

10,186,278‌

Series

2023-1

Class

B

–8.3%

8/20/53

(b)

2,650,000

2,750,250‌

Series

2023-1

Class

C

–11.5%

8/20/53

(b)

4,750,000

5,070,375‌

Hotwire

Funding

LLC

(HWIRE)

Series

2024-1A

Class

C

–9.19%

6/20/54

(b)

6,000,000

6,289,723‌

a

37,851,032‌

a

Other

Adams

Outdoor

Advertising,

LP

(ADMSO)

Series

2023-1

Class

A2

–6.97%

7/15/53

(b)

6,000,000

6,147,524‌

Bojangles

Issuer

LLC

(BOJA)

Series

2024-1A

Class

A2

–6.58%

11/20/54

(b)

19,500,000

19,287,622‌

Cogent

Ipv4

LLC

(CGNT)

Series

2024-1A

Class

A2

–7.92%

5/25/54

(b)

2,250,000

2,315,217‌

ExteNet

Issuer

LLC

(EXTNT)

Series

2024-1A

Class

A2

–5.34%

7/25/54

(b)

2,000,000

1,983,711‌

Series

2024-1A

Class

C

–9.05%

7/25/54

(b)

5,000,000

5,080,348‌

Golub

Capital

Partners

ABS

Funding

(GCPAF)

Series

2023-1A

Class

A

–7.46%

7/25/33

(b)

5,000,000

5,021,458‌

Series

2024-1A

Class

A1

–7.53%

1/25/34

Floating

Rate

(TSFR3M

+

290)

(b)

(c)

5,000,000

5,002,732‌

Series

2024-1A

Class

A2

–6.89%

1/25/34

(b)

5,000,000

5,001,662‌

Jersey

Mike's

Funding

LLC

(JMIKE)

Series

2019-1A

Class

A2

–4.43%

2/15/50

(b)

2,649,975

2,619,167‌

Series

2024-1A

Class

A2

–5.64%

2/15/55

(b)

8,000,000

7,925,957‌

Oxford

Finance

Funding

Trust

(OXFIN)

Series

2023-1A

Class

A2

–6.72%

2/15/31

(b)

5,000,000

5,046,024‌

TSC

SPV

Funding

LLC

(TROP)

Series

2024-1A

Class

A2

–6.29%

8/20/54

(b)

17,000,000

16,645,851‌

10

Core

Plus

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

Zaxby's

Funding

LLC

(ZAXBY)

Series

2021-1A

Class

A2

–3.24%

7/30/51

(b)

1,209,375

1,100,559‌

83,177,832‌

a

Total

Asset-Backed

Securities

(Cost

$494,524,198)

500,490,120‌

Commercial

Mortgage-Backed

Securities

-

6.4%

a

ACREC,

Ltd.

(ACREC)

Series

2021-FL1

Class

E

–7.49%

10/16/36

Floating

Rate

(TSFR1M

+

311)

(a)

(b)

11,482,000

11,547,832‌

AREIT

LLC

(AREIT)

Series

2023-CRE8

Class

B

–7.7%

8/17/41

Floating

Rate

(TSFR1M

+

332)

(a)

(b)

5,000,000

5,041,238‌

Series

2023-CRE8

Class

C

–8.4%

8/17/41

Floating

Rate

(TSFR1M

+

402)

(a)

(b)

5,000,000

5,102,835‌

Series

2023-CRE8

Class

D

–9.75%

8/17/41

Floating

Rate

(TSFR1M

+

537)

(a)

(b)

3,000,000

3,054,142‌

AREIT

Trust

(AREIT)

Series

2021-CRE5

Class

A

–5.58%

11/17/38

Floating

Rate

(TSFR1M

+

119)

(a)

(b)

114,193

114,349‌

Series

2021-CRE5

Class

B

–6.32%

11/17/38

Floating

Rate

(TSFR1M

+

193)

(a)

(b)

5,561,000

5,561,391‌

AREIT,

Ltd.

(AREIT)

Series

2024-CRE9

Class

AS

–6.63%

5/17/41

Floating

Rate

(TSFR1M

+

224)

(a)

(b)

5,000,000

5,021,511‌

Series

2024-CRE9

Class

B

–6.93%

5/17/41

Floating

Rate

(TSFR1M

+

254)

(a)

(b)

3,000,000

3,039,926‌

BDS

LLC

(BDS)

Series

2024-FL13

Class

A

–5.94%

9/19/39

Floating

Rate

(TSFR1M

+

158)

(b)

5,000,000

5,008,743‌

BDS

Ltd.

(BDS)

Series

2021-FL10

Class

C

–6.79%

12/16/36

Floating

Rate

(TSFR1M

+

241)

(a)

(b)

1,250,000

1,254,688‌

BPCRE

Ltd.

(BPCRE)

Series

2022-FL2

Class

AS

–7.48%

1/16/37

Floating

Rate

(TSFR1M

+

310)

(a)

(b)

1,550,000

1,558,686‌

Series

2022-FL2

Class

C

–8.88%

1/16/37

Floating

Rate

(TSFR1M

+

450)

(a)

(b)

4,000,000

4,011,653‌

BPR

Trust

(BPR)

Series

2021-TY

Class

B

–5.66%

9/15/38

Floating

Rate

(TSFR1M

+

126)

(b)

3,250,000

3,220,611‌

Brightspire

Capital,

Inc.

(BRSP)

Series

2021-FL1

Class

D

–7.18%

8/19/38

Floating

Rate

(TSFR1M

+

281)

(a)

(b)

1,000,000

995,250‌

BRSP

Ltd.

(BRSP)

Series

2021-FL1

Class

B

–6.38%

8/19/38

Floating

Rate

(TSFR1M

+

201)

(a)

(b)

1,100,000

1,095,585‌

Series

2021-FL1

Class

C

–6.63%

8/19/38

Floating

Rate

(TSFR1M

+

226)

(a)

(b)

5,050,000

5,050,072‌

Series

2021-FL1

Class

E

–7.93%

8/19/38

Floating

Rate

(TSFR1M

+

356)

(a)

(b)

4,000,000

3,968,616‌

Series

2024-FL2

Class

A

–6.31%

8/19/37

Floating

Rate

(TSFR1M

+

195)

(a)

(b)

5,000,000

5,027,482‌

Series

2024-FL2

Class

D

–9.21%

8/19/37

Floating

Rate

(TSFR1M

+

484)

(a)

(b)

10,000,000

10,172,973‌

BSPRT

Issuer

LLC

(BSPRT)

Series

2024-FL11

Class

A

–6.04%

7/15/39

Floating

Rate

(TSFR1M

+

164)

(b)

10,000,000

10,030,588‌

FS

Rialto

Issuer

LLC

(FSRIA)

Series

2021-FL2

Class

D

–7.31%

5/16/38

Floating

Rate

(TSFR1M

+

291)

(b)

2,080,000

1,992,232‌

a

a

a

$

Principal

Amount

$

Value

a

Series

2021-FL2

Class

E

–7.96%

5/16/38

Floating

Rate

(TSFR1M

+

356)

(b)

1,000,000

930,962‌

Series

2022-FL7

Class

A

–7.29%

10/19/39

Floating

Rate

(TSFR1M

+

290)

(b)

866,488

869,063‌

Series

2022-FL7

Class

B

–8.31%

10/19/39

Floating

Rate

(TSFR1M

+

391)

(b)

4,333,000

4,355,926‌

Government

National

Mortgage

Association

(GNR)

Series

2018-52

Class

AE

–2.75%

5/16/51

76,422

70,388‌

GPMT

Ltd.

(GPMT)

Series

2021-FL3

Class

A

–5.74%

7/16/35

Floating

Rate

(TSFR1M

+

136)

(a)

(b)

755,496

751,515‌

Series

2021-FL4

Class

C

–6.82%

12/15/36

Floating

Rate

(TSFR1M

+

246)

(a)

(b)

8,000,000

7,657,171‌

HERA

Commercial

Mortgage

Ltd.

(HERA)

Series

2021-FL1

Class

C

–6.44%

2/18/38

Floating

Rate

(TSFR1M

+

206)

(a)

(b)

650,000

643,732‌

HGI

CRE

CLO

Ltd.

(HGI)

Series

2021-FL1

Class

A4

–5.56%

6/16/36

Floating

Rate

(TSFR1M

+

116)

(a)

(b)

129,695

130,032‌

Series

2021-FL1

Class

AS

–5.91%

6/16/36

Floating

Rate

(TSFR1M

+

151)

(a)

(b)

2,000,000

2,009,581‌

Series

2021-FL1

Class

B

–6.11%

6/16/36

Floating

Rate

(TSFR1M

+

171)

(a)

(b)

5,100,000

5,119,657‌

Series

2021-FL1

Class

C

–6.21%

6/16/36

Floating

Rate

(TSFR1M

+

181)

(a)

(b)

450,000

450,288‌

Series

2021-FL1

Class

E

–7.46%

6/16/36

Floating

Rate

(TSFR1M

+

306)

(a)

(b)

750,000

716,593‌

Series

2021-FL2

Class

D

–6.66%

9/17/36

Floating

Rate

(TSFR1M

+

226)

(a)

(b)

1,000,000

982,060‌

HIG

RCP

LLC

(HIG)

Series

2023-FL1

Class

B

–8.01%

9/19/38

Floating

Rate

(TSFR1M

+

361)

(b)

3,000,000

3,046,721‌

Series

2023-FL1

Class

C

–8.96%

9/19/38

Floating

Rate

(TSFR1M

+

456)

(b)

5,000,000

5,089,834‌

Series

2023-FL1

Class

D

–10.26%

9/19/38

Floating

Rate

(TSFR1M

+

586)

(b)

5,000,000

5,130,222‌

Hilton

USA

Trust

(HILT)

Series

2016-SFP

Class

E

–5.52%

11/5/35

(b)

(e)

840,000

45,000‌

ILPT

Commercial

Mortgage

Trust

(ILPT)

Series

2022-LPF2

Class

B

–7.14%

10/15/39

Floating

Rate

(TSFR1M

+

274)

(b)

3,000,000

3,001,153‌

LoanCore

Issuer

Ltd.

(LNCR)

Series

2021-CRE5

Class

B

–6.51%

7/15/36

Floating

Rate

(TSFR1M

+

211)

(a)

(b)

1,407,000

1,412,771‌

Series

2021-CRE6

Class

AS

–6.16%

11/15/38

Floating

Rate

(TSFR1M

+

176)

(a)

(b)

5,500,000

5,472,728‌

Series

2021-CRE6

Class

E

–7.96%

11/15/38

Floating

Rate

(TSFR1M

+

356)

(a)

(b)

3,000,000

2,977,523‌

Series

2022-CRE7

Class

E

–8.35%

1/17/37

Floating

Rate

(SOFR30A

+

375)

(a)

(b)

2,250,000

2,250,278‌

PFP

Ltd.

(PFP)

Series

2021-8

Class

C

–6.31%

8/9/37

Floating

Rate

(TSFR1M

+

191)

(a)

(b)

12,600,000

12,694,159‌

Series

2021-8

Class

E

–7.01%

8/9/37

Floating

Rate

(TSFR1M

+

261)

(a)

(b)

750,000

746,721‌

Series

2022-9

Class

A

–6.67%

8/19/35

Floating

Rate

(TSFR1M

+

227)

(a)

(b)

549,988

551,363‌

Series

2024-11

Class

C

–7.47%

9/17/39

Floating

Rate

(TSFR1M

+

299)

(a)

(b)

3,902,498

3,913,936‌

Series

2024-11

Class

D

–8.57%

9/17/39

Floating

Rate

(TSFR1M

+

409)

(a)

(b)

5,000,000

5,003,155‌

STWD

Ltd.

(STWD)

Series

2021-FL2

Class

C

–6.59%

4/18/38

Floating

Rate

(TSFR1M

+

221)

(a)

(b)

2,109,000

2,097,928‌

11

a

a

a

$

Principal

Amount

$

Value

a

Series

2022-FL3

Class

B

–6.55%

11/15/38

Floating

Rate

(SOFR30A

+

195)

(a)

(b)

3,525,000

3,454,038‌

Series

2022-FL3

Class

E

–7.85%

11/15/38

Floating

Rate

(SOFR30A

+

325)

(a)

(b)

2,320,000

2,183,029‌

TRTX

Issuer,

Ltd.

(TRTX)

Series

2021-FL4

Class

C

–6.9%

3/15/38

Floating

Rate

(TSFR1M

+

251)

(a)

(b)

3,750,000

3,731,764‌

Series

2022-FL5

Class

C

–7.13%

2/15/39

Floating

Rate

(TSFR1M

+

275)

(a)

(b)

5,000,000

4,970,324‌

VMC

Finance

LLC

(VMC)

Series

2021-FL4

Class

A

–5.59%

6/16/36

Floating

Rate

(TSFR1M

+

121)

(b)

96,644

95,800‌

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$183,056,462)

184,425,818‌

Mortgage-Backed

Securities

-

35.5%

a

Federal

Home

Loan

Mortgage

Corporation

Collateralized

Mortgage

Obligations

Series

5026

Class

DH

–1.75%

9/25/43

370,672

335,252‌

Series

4949

Class

BC

–2.25%

3/25/49

192,630

168,919‌

a

Pass-Through

Securities

Pool#

C91945

–

3%

8/1/37

201,311

184,181‌

Pool#

RA7183

–

4%

4/1/52

11,167,996

10,237,397‌

Pool#

SD8245

–

4.5%

9/1/52

18,680,695

17,612,967‌

Pool#

SD8257

–

4.5%

10/1/52

50,868,368

47,962,695‌

Pool#

SD8258

–

Series

8258

5%

10/1/52

8,445,849

8,180,854‌

Pool#

SD8266

–

4.5%

11/1/52

10,554,162

9,945,205‌

Pool#

SD8267

–

Series

8267

5%

11/1/52

3,442,202

3,333,937‌

Pool#

SD4712

–

4.5%

12/1/52

26,238,610

24,741,251‌

Pool#

SD8290

–

6%

1/1/53

3,801,967

3,822,509‌

Pool#

SD2473

–

5%

2/1/53

12,992,118

12,583,676‌

Pool#

MA5496

–

4.5%

3/1/53

19,786,483

18,633,826‌

Pool#

SD8323

–

Series

8323

5%

5/1/53

6,303,012

6,093,074‌

Pool#

SD8324

–

Series

8324

5.5%

5/1/53

7,799,516

7,711,987‌

Pool#

SD8329

–

5%

6/1/53

13,532,870

13,092,718‌

Pool#

SD3386

–

5.5%

7/1/53

4,661,056

4,610,707‌

Pool#

SD8341

–

Series

8341

5%

7/1/53

4,549,513

4,397,903‌

Pool#

SD8342

–

Series

8342

5.5%

7/1/53

12,400,774

12,262,040‌

Pool#

SD8350

–

6%

8/1/53

7,536,802

7,581,553‌

Pool#

SD8347

–

4.5%

8/1/53

39,538,411

37,242,869‌

Pool#

SD3857

–

6%

9/1/53

7,920,172

7,964,883‌

Pool#

SD8362

–

5.5%

9/1/53

17,946,648

17,742,638‌

Pool#

SD8366

–

5%

10/1/53

24,327,472

23,520,876‌

Pool#

SD6291

–

4.5%

10/1/53

7,833,500

7,377,401‌

Pool#

SD8374

–

6.5%

11/1/53

3,784,896

3,865,312‌

Pool#

SD8372

–

5.5%

11/1/53

4,542,471

4,490,017‌

Pool#

SD8371

–

5%

11/1/53

12,236,217

11,826,548‌

Pool#

SD8383

–

5.5%

12/1/53

21,096,383

20,841,379‌

Pool#

SD8395

–

5.5%

1/1/54

23,764,951

23,473,410‌

Pool#

SD8400

–

5%

2/1/54

19,139,047

18,486,100‌

Pool#

SD8408

–

5.5%

3/1/54

23,598,687

23,304,932‌

Pool#

SD8417

–

4.5%

3/1/54

14,319,888

13,478,880‌

Pool#

SD8421

–

6%

4/1/54

4,344,125

4,367,254‌

Pool#

SD8420

–

5.5%

4/1/54

10,949,689

10,813,387‌

Pool#

SD8419

–

5%

4/1/54

21,801,749

21,057,945‌

Pool#

SD8430

–

5%

5/1/54

5,732,894

5,537,304‌

Pool#

SD8438

–

5.5%

6/1/54

17,652,041

17,432,305‌

Pool#

SD8447

–

6%

7/1/54

4,631,364

4,660,988‌

a

a

a

$

Principal

Amount

$

Value

a

Pool#

MA5585

–

5.5%

9/1/54

7,653,441

7,556,971‌

Pool#

SD8461

–

5%

9/1/54

7,880,588

7,610,488‌

Pool#

SD6319

–

5%

11/1/54

51,465,192

49,701,226‌

Pool#

SD8306

–

5.5%

12/1/54

17,906,006

17,680,302‌

Pool#

SD8493

–

5%

12/1/54

13,023,343

12,576,965‌

586,103,031‌

a

Federal

National

Mortgage

Association

Collateralized

Mortgage

Obligations

Series

2013-130

Class

CA

–2.5%

6/25/43

82,954

77,688‌

Series

2013-130

Class

CD

–3%

6/25/43

150,826

143,753‌

a

Pass-Through

Securities

Pool#

932836

–

3%

12/1/25

2,311

2,290‌

Pool#

468516

–

5.17%

6/1/28

191,501

190,224‌

Pool#

MA3443

–

4%

8/1/48

85,956

79,734‌

Pool#

FM5733

–

2%

1/1/51

1,090,092

863,252‌

Pool#

MA4733

–

4.5%

9/1/52

6,230,014

5,873,927‌

Pool#

MA4785

–

Series

4785

5%

10/1/52

11,396,186

11,038,621‌

Pool#

MA4806

–

Series

4806

5%

11/1/52

3,408,465

3,301,262‌

Pool#

MA4840

–

4.5%

12/1/52

12,153,910

11,455,754‌

Pool#

MA4941

–

5.5%

3/1/53

6,737,210

6,653,352‌

Pool#

MA5009

–

5%

5/1/53

27,922,399

26,997,662‌

Pool#

MA5040

–

6%

6/1/53

1,601,207

1,612,657‌

Pool#

MA5039

–

5.5%

6/1/53

6,962,415

6,880,156‌

Pool#

MA5038

–

Series

5038

5%

6/1/53

3,110,141

3,008,062‌

Pool#

MA5072

–

5.5%

7/1/53

19,410,810

19,185,109‌

Pool#

MA5071

–

5%

7/1/53

21,563,265

20,848,950‌

Pool#

MA5167

–

6.5%

10/1/53

2,280,253

2,330,893‌

Pool#

MA5166

–

6%

10/1/53

5,836,663

5,870,125‌

Pool#

MA5164

–

5%

10/1/53

9,563,951

9,239,952‌

Pool#

MA5192

–

6.5%

11/1/53

5,032,694

5,139,620‌

Pool#

MA5191

–

6%

11/1/53

4,217,897

4,242,078‌

Pool#

MA5216

–

6%

12/1/53

8,307,962

8,354,743‌

Pool#

MA5215

–

5.5%

12/1/53

21,007,805

20,753,505‌

Pool#

MA5271

–

5.5%

2/1/54

16,109,306

15,908,779‌

Pool#

CB7972

–

5%

2/1/54

9,551,905

9,233,056‌

Pool#

MA5296

–

5.5%

3/1/54

13,679,381

13,509,100‌

Pool#

MA5294

–

5%

3/1/54

9,568,309

9,242,173‌

Pool#

MA5331

–

5.5%

4/1/54

13,898,226

13,725,220‌

Pool#

MA5326

–

4.5%

4/1/54

6,267,631

5,900,032‌

Pool#

DB1847

–

5.5%

5/1/54

4,873,285

4,811,859‌

Pool#

MA5387

–

5%

6/1/54

29,980,988

28,954,374‌

Pool#

MA5420

–

5.5%

7/1/54

9,432,110

9,313,223‌

Pool#

MA5419

–

5%

7/1/54

12,737,870

12,301,696‌

Pool#

MA5443

–

5%

8/1/54

7,837,306

7,568,936‌

Pool#

MA5470

–

5.5%

9/1/54

15,522,449

15,326,793‌

Pool#

MA5468

–

4.5%

9/1/54

17,643,550

16,605,933‌

Pool#

MA5496

–

5%

10/1/54

15,813,153

15,271,656‌

Pool#

MA5470

–

5%

1/1/55

8,000,000

7,725,796‌

359,541,995‌

a

Government

National

Mortgage

Association

Collateralized

Mortgage

Obligations

Series

2021-29

Class

CY

–3%

9/20/50

999,297

771,916‌

12

Core

Plus

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

a

Non-Government

Agency

Collateralized

Mortgage

Obligations

Chase

Home

Lending

Mortgage

Trust

(CHASE)

Series

2024-1

Class

A3

–6%

1/25/55

(b)

(c)

5,829,848

5,818,509‌

Series

2024-2

Class

A3

–6%

2/25/55

(b)

(c)

7,673,546

7,658,621‌

Series

2024-5

Class

A2

–6%

4/25/55

(b)

(c)

7,487,959

7,473,395‌

Series

2024-8

Class

A3

–5.5%

8/25/55

(b)

(c)

3,657,897

3,588,725‌

Flagstar

Mortgage

Trust

(FSMT)

Series

2017-1

Class

2A2

–3%

3/25/47

(b)

(c)

30,498

27,980‌

GS

Mortgage-Backed

Securities

Trust

(GSMBS)

Series

2023-PJ3

Class

A3

–5%

10/27/53

(b)

(c)

4,503,151

4,330,807‌

Series

2024-PJ5

Class

A3

–6%

9/25/54

(b)

(c)

6,205,462

6,193,392‌

JPMorgan

Mortgage

Trust

(JPMMT)

Series

2016-3

Class

A

–2.96%

10/25/46

(b)

(c)

39,315

36,702‌

Series

2017-3

Class

A

–2.5%

8/25/47

(b)

(c)

46,884

40,567‌

Series

2018-6

Class

2A2

–3%

12/25/48

(b)

(c)

13,506

12,716‌

Series

2023-3

Class

A3A

–5%

10/25/53

(b)

(c)

4,076,502

3,920,486‌

Series

2023-4

Class

1A2

–6%

11/25/53

(b)

(c)

2,406,598

2,401,917‌

Series

2023-9

Class

A2

–6%

4/25/54

(b)

(c)

2,714,526

2,709,247‌

Series

2023-10

Class

A2

–6%

5/25/54

(b)

(c)

1,870,594

1,866,955‌

Series

2024-2

Class

A3

–6%

8/25/54

(b)

(c)

2,730,500

2,725,190‌

Series

2024-4

Class

A3

–6%

10/25/54

(b)

(c)

4,070,863

4,062,945‌

Series

2024-6

Class

A3

–6%

12/25/54

(b)

(c)

4,809,606

4,800,251‌

Morgan

Stanley

Residential

Mortgage

Loan

Trust

(MSRM)

Series

2023-1

Class

A1

–4%

2/25/53

(b)

(c)

5,273,005

4,756,677‌

RCKT

Mortgage

Trust

(RCKT)

Series

2021-3

Class

A5

–2.5%

7/25/51

(b)

(c)

1,259,725

1,108,942‌

Sequoia

Mortgage

Trust

(SEMT)

Series

2019-CH2

Class

A

–4.5%

8/25/49

(b)

(c)

3,451

3,427‌

Series

2023-3

Class

A1

–6%

9/25/53

(b)

(c)

4,132,109

4,124,072‌

Series

2024-1

Class

A1

–6%

1/25/54

(b)

(c)

11,034,328

11,012,866‌

a

Pass-Through

Securities

Greenpoint

Mortgage

Pass-Through

Certificates

(GMSI)

Series

2003-1

Class

A1

–7.72%

10/25/33

(c)

27,099

25,852‌

78,700,241‌

a

Total

Mortgage-Backed

Securities

(Cost

$1,035,695,390)

1,025,117,183‌

Municipal

Bonds

-

0.0%

a

Detroit,

MI

City

School

District

General

Obligation

SBLF,

6.65%

5/1/29

(Cost

$539,360)

460,000

490,381‌

U.S.

Treasuries

-

27.2%

a

U.S.

Treasury

Bonds

3.5%

2/15/39

2,100,000

1,841,578‌

4.5%

8/15/39

5,000,000

4,869,186‌

4.38%

11/15/39

5,000,000

4,794,893‌

4.63%

2/15/40

20,000,000

19,696,833‌

1.88%

2/15/41

11,500,000

7,708,691‌

4.38%

5/15/41

5,000,000

4,763,434‌

1.75%

8/15/41

4,000,000

2,591,774‌

2%

11/15/41

7,500,000

5,039,896‌

2.38%

2/15/42

28,000,000

19,943,526‌

3.25%

5/15/42

15,000,000

12,207,000‌

a

a

a

$

Principal

Amount

$

Value

a

4%

11/15/42

90,000,000

81,014,952‌

3.88%

2/15/43

10,000,000

8,827,183‌

3.13%

2/15/43

25,000,000

19,756,091‌

3.88%

5/15/43

49,000,000

43,141,368‌

2.88%

5/15/43

2,000,000

1,515,456‌

4.38%

8/15/43

75,500,000

71,069,138‌

3.63%

8/15/43

17,000,000

14,405,703‌

4.75%

11/15/43

25,000,000

24,692,211‌

3.75%

11/15/43

6,000,000

5,168,224‌

4.5%

2/15/44

75,000,000

71,608,645‌

3.63%

2/15/44

15,500,000

13,083,209‌

4.63%

5/15/44

25,000,000

24,244,248‌

3.38%

5/15/44

15,500,000

12,567,084‌

4.13%

8/15/44

50,000,000

45,264,115‌

3.13%

8/15/44

27,500,000

21,365,719‌

3%

11/15/44

24,000,000

18,222,033‌

2.5%

2/15/45

21,000,000

14,576,850‌

3%

5/15/45

23,000,000

17,385,294‌

3%

11/15/45

9,500,000

7,146,628‌

2.5%

5/15/46

8,400,000

5,722,503‌

2.25%

8/15/46

2,500,000

1,614,682‌

3%

2/15/47

1,000,000

741,335‌

4.13%

8/15/53

13,000,000

11,582,431‌

U.S.

Treasury

Notes

2.25%

2/15/27

3,500,000

3,359,341‌

2.25%

8/15/27

3,000,000

2,852,073‌

1.13%

2/29/28

6,500,000

5,897,495‌

1.25%

9/30/28

7,000,000

6,257,382‌

2.38%

10/15/28

13,000,000

13,608,524‌

1.5%

11/30/28

3,000,000

2,694,921‌

1.88%

2/28/29

3,500,000

3,170,804‌

4%

10/31/29

10,000,000

9,833,661‌

1.75%

11/15/29

3,000,000

2,661,209‌

1.5%

2/15/30

5,250,000

4,559,680‌

4%

2/28/30

20,000,000

19,634,427‌

0.88%

11/15/30

8,000,000

6,547,352‌

1.13%

2/15/31

4,500,000

3,714,669‌

1.38%

11/15/31

5,500,000

4,495,467‌

1.88%

2/15/32

1,000,000

841,404‌

4.13%

11/15/32

42,000,000

40,974,874‌

4.5%

11/15/33

10,000,000

9,957,858‌

4.25%

11/15/34

16,000,000

15,584,235‌

4.25%

5/15/39

10,000,000

9,489,919‌

a

Total

U.S.

Treasuries

(Cost

$845,541,768)

784,307,208‌

Cash

Equivalents

-

4.1%

a

a

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(Cost

$117,609,267)

(d)

117,609,267

117,609,267‌

Short-Term

Securities

Held

as

Collateral

for

Securities

on

Loan

-

0.2%

a

a

Shares

$

Value

Goldman

Sachs

Financial

Square

Government

Fund

Institutional

Class

–4.36%

(d)

5,205,580

5,205,580‌

13

a

a

a

Shares

$

Value

Citibank

N.A.

DDCA

4.33%

578,398

578,398‌

a

Total

Short-Term

Securities

Held

as

Collateral

for

Securities

on

Loan

(Cost

$5,783,978)

5,783,978‌

Total

Investments

in

Securities

102.1%

(Cost

$3,005,603,527)

2,945,168,892‌

Other

Liabilities

in

Excess

of

Other

Assets

-  (2.1%)

(60,748,121‌)

Net

Assets

-

100%

2,884,420,771‌

Net

Asset

Value

Per

Share

-

Investor

Class

9.53

Net

Asset

Value

Per

Share

-

Institutional

Class

9.54

^

This

security

or

a

partial

position

of

this

security

was

on

loan

as

of

December

31,

2024.

The

total

value

of

securities

on

loan

as

of

December

31,

2024

was

$5,662,894.

#

This

security,

in

part

or

entirely,

represents

a

delayed-settlement

security.

(a)

Foreign

domiciled

entity.

(b)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

This

security

may

be

resold

in

transactions

that

are

exempt

from

registration,

normally

to

qualified

institutional

buyers.

(c)

The

interest

rate

resets

periodically

based

on

the

weighted

average

coupons

of

the

underlying

mortgage-related

or

asset-backed

obligations.

(d)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

(e)

Defaulted

bond.

14

Large

Cap

Equity

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Common

Stocks

-

98.6%

a

Financials

%

of

Net

Assets

Shares

$

Value

Transaction

&

Payment

Processing

Services

17.9

Visa,

Inc.

-

Class

A

162,500

51,356,500‌

Global

Payments,

Inc.

425,000

47,625,500‌

Mastercard,

Inc.

-

Class

A

85,000

44,758,450‌

Fidelity

National

Information

Services,

Inc.

272,500

22,009,825‌

a

Multi-Sector

Holdings

5.3

Berkshire

Hathaway,

Inc.

-

Class

B

(a)

107,500

48,727,600‌

a

Insurance

Brokers

4.8

Aon

plc

-

Class

A

122,500

43,997,100‌

a

Financial

Exchanges

&

Data

2.1

S&P

Global,

Inc.

40,000

19,921,200‌

a

30.1

278,396,175‌

Information

Technology

Application

Software

7.9

Salesforce,

Inc.

95,000

31,761,350‌

Constellation

Software,

Inc.

Canada

(b)

7,500

23,191,641‌

Adobe,

Inc.

(a)

40,000

17,787,200‌

a

IT

Consulting

&

Other

Services

5.5

Accenture

plc

-

Class

A

(b)

90,000

31,661,100‌

Gartner,

Inc.

(a)

40,000

19,378,800‌

a

Systems

Software

3.4

Oracle

Corp.

187,500

31,245,000‌

a

Semiconductor

Materials

&

Equipment

2.7

Analog

Devices,

Inc.

117,500

24,964,050‌

a

19.5

179,989,141‌

Communication

Services

Interactive

Media

&

Services

9.2

Meta

Platforms,

Inc.

-

Class

A

75,000

43,913,250‌

Alphabet,

Inc.

-

Class

C

217,500

41,420,700‌

a

Cable

&

Satellite

4.1

Charter

Communications,

Inc.

-

Class

A

(a)

110,000

37,704,700‌

a

13.3

123,038,650‌

Health

Care

Life

Sciences

Tools

&

Services

9.3

Danaher

Corp.

206,000

47,287,300‌

Thermo

Fisher

Scientific,

Inc.

75,000

39,017,250‌

a

Health

Care

Services

1.9

Labcorp

Holdings,

Inc.

75,000

17,199,000‌

a

11.2

103,503,550‌

Industrials

Research

&

Consulting

Services

3.6

Equifax,

Inc.

132,500

33,767,625‌

a

Industrials  

%

of

Net

Assets

Shares

$

Value

a

Industrial

Machinery

&

Supplies

&

Components

3.4

IDEX

Corp.

150,000

31,393,500‌

a

Environmental

&

Facilities

Services

2.1

Veralto

Corp.

190,000

19,351,500‌

a

Cargo

Ground

Transportation

2.0

Old

Dominion

Freight

Line,

Inc.

105,000

18,522,000‌

a

11.1

103,034,625‌

Consumer

Discretionary

Broadline

Retail

4.0

Amazon.com,

Inc.

(a)

167,500

36,747,825‌

a

Automotive

Retail

3.2

CarMax,

Inc.

(a)

360,000

29,433,600‌

a

7.2

66,181,425‌

Real

Estate

Real

Estate

Services

3.4

CoStar

Group,

Inc.

(a)

437,700

31,334,943‌

Materials

Construction

Materials

2.8

Vulcan

Materials

Co.

100,000

25,723,000‌

a

Total

Common

Stocks

(Cost

$446,910,225)

911,201,509‌

Cash

Equivalents

-

1.4%

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(Cost

$12,979,578)

(c)

12,979,578

12,979,578‌

a

Total

Investments

in

Securities

-

100.0%

(Cost

$459,889,803)

924,181,087‌

Other

Liabilities

in

Excess

of

Other

Assets

-  0.0%

(203,969‌)

Net

Assets

-

100%

923,977,118‌

Net

Asset

Value

Per

Share

-

Investor

Class

52.58

Net

Asset

Value

Per

Share

-

Institutional

Class

54.30

(a)

Non-income

producing.

(b)

Foreign

domiciled

entity.

(c)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

15

Multi

Cap

Equity

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Common

Stocks

-

94.7%

a

Communication

Services

%

of

Net

Assets

Shares

$

Value

Interactive

Media

&

Services

11.9

Alphabet,

Inc.

-

Class

C

180,000

34,279,200‌

Meta

Platforms,

Inc.

-

Class

A

57,500

33,666,825‌

a

Cable

&

Satellite

5.4

Liberty

Broadband

Corp.

(a)

Class

C

200,000

14,952,000‌

Class

A

100,000

7,436,000‌

Charter

Communications,

Inc.

-

Class

A^

(a)

25,000

8,569,250‌

a

Communications

Equipment

3.2

Sirius

XM

Holdings,

Inc.^

800,000

18,240,000‌

a

Integrated

Telecommunication

Services

0.8

LICT

Corp.

(a)

315

4,465,912‌

a

Alternative

Carriers

0.7

Liberty

Global,

Ltd.

-

Class

C

(a)

(b)

300,000

3,942,000‌

a

22.0

125,551,187‌

Financials

Transaction

&

Payment

Processing

Services

9.7

Visa,

Inc.

-

Class

A

92,500

29,233,700‌

Mastercard,

Inc.

-

Class

A

50,000

26,328,500‌

a

Multi-Sector

Holdings

7.1

Berkshire

Hathaway,

Inc.

-

Class

B

(a)

90,000

40,795,200‌

a

Insurance

Brokers

4.3

Aon

plc

-

Class

A

67,500

24,243,300‌

a

21.1

120,600,700‌

Industrials

Aerospace

&

Defense

5.2

HEICO

Corp.

-

Class

A

160,000

29,772,800‌

a

Industrial

Machinery

&

Supplies

&

Components

2.9

IDEX

Corp.

80,000

16,743,200‌

a

Research

&

Consulting

Services

2.5

Equifax,

Inc.

55,000

14,016,750‌

a

Cargo

Ground

Transportation

2.0

Old

Dominion

Freight

Line,

Inc.

65,000

11,466,000‌

a

Environmental

&

Facilities

Services

1.2

Veralto

Corp.

70,000

7,129,500‌

a

13.8

79,128,250‌

Health

Care

Life

Sciences

Tools

&

Services

6.0

Danaher

Corp.

86,000

19,741,300‌

Bio-Techne

Corp.

200,000

14,406,000‌

a

Health

Care  

%

of

Net

Assets

Shares

$

Value

a

Health

Care

Services

3.3

Labcorp

Holdings,

Inc.

82,000

18,804,240‌

a

9.3

52,951,540‌

Materials

Construction

Materials

6.0

Vulcan

Materials

Co.

70,000

18,006,100‌

Martin

Marietta

Materials,

Inc.^

31,200

16,114,800‌

a

Specialty

Chemicals

2.6

Perimeter

Solutions,

Inc.

(a)

1,161,334

14,841,849‌

a

8.6

48,962,749‌

Information

Technology

Application

Software

3.2

ACI

Worldwide,

Inc.

(a)

350,000

18,168,500‌

a

Semiconductor

Materials

&

Equipment

2.8

Texas

Instruments,

Inc.

85,000

15,938,350‌

a

IT

Consulting

&

Other

Services

2.0

Gartner,

Inc.

(a)

24,000

11,627,280‌

a

8.0

45,734,130‌

Consumer

Discretionary

Automotive

Retail

3.7

CarMax,

Inc.

(a)

260,000

21,257,600‌

a

Distributors

2.9

LKQ

Corp.^

450,000

16,537,500‌

a

6.6

37,795,100‌

Real

Estate

Real

Estate

Services

5.3

CoStar

Group,

Inc.

(a)

300,000

21,477,000‌

Altus

Group,

Ltd.

Canada

(b)

225,000

8,765,522‌

a

5.3

30,242,522‌

a

Total

Common

Stocks

(Cost

$236,972,068)

540,966,178‌

Cash

Equivalents

-

5.3%

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

U.S.

Treasury

Bills,

4.06%

to

4.08%,

3/4/25

to

3/18/25

(c)

(d)

26,000,000

25,790,897‌

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(d)

4,472,494

4,472,494‌

a

Total

Cash

Equivalents

(Cost

$30,249,056)

30,263,391‌

16

Multi

Cap

Equity

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

Short-Term

Securities

Held

as

Collateral

for

Securities

on

Loan

-

2.9%

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Goldman

Sachs

Financial

Square

Government

Fund

Institutional

Class

–

4.36%

(d)

15,015,150

15,015,150‌

Citibank

N.A.

DDCA

4.33%

1,668,350

1,668,350‌

a

Total

Short-Term

Securities

Held

as

Collateral

for

Securities

on

Loan

(Cost

$16,683,500)

16,683,500‌

Total

Investments

in

Securities

-

102.9%

(Cost

$283,904,624)

587,913,069‌

Other

Liabilities

in

Excess

of

Other

Assets

-  (2.9%)

(16,766,275‌)

Net

Assets

-

100%

571,146,794‌

Net

Asset

Value

Per

Share

-

Investor

Class

32.27

Net

Asset

Value

Per

Share

-

Institutional

Class

33.35

^

This

security

or

a

partial

position

of

this

security

was

on

loan

as

of

December

31,

2024.

The

total

value

of

securities

on

loan

as

of

December

31,

2024

was

$16,315,788.

(a)

Non-income

producing.

(b)

Foreign

domiciled

entity.

(c)

Interest

rates

presented

represent

the

effective

yield

at

December

31,

2024.

(d)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

17

Nebraska

Tax

Free

Income

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Municipal

Bonds

-

93.1%

a

a

%

of

Net

Assets

$

Principal

Amount

$

Value

a

a

a

a

a

California

0.9

San

Diego

County

Regional

Airport

Authority

Revenue

Series

B

5%

7/1/25

200,000

201,422‌

a

Florida

0.9

State

of

Florida

General

Obligation

4%

6/1/36

200,000

197,423‌

a

Nebraska

86.2

Ashland-Greenwood

Public

Schools

General

Obligation

3%

12/15/42

100,000

80,888‌

Cass

County

School

District

No.

22

General

Obligation

    2.05%

12/15/25

375,000

368,808‌

    2.2%

12/15/26

250,000

242,742‌

City

of

Bellevue

NE

General

Obligation

Series

A

3%

9/15/32

500,000

477,019‌

City

of

Blair

NE

General

Obligation

5%

6/15/34

360,000

378,553‌

City

of

Blair

NE

Water

System

Revenue

    2.85%

12/15/25

100,000

98,720‌

    3%

12/15/26

100,000

97,817‌

    3.1%

12/15/27

100,000

96,965‌

    3.2%

12/15/28

100,000

96,076‌

City

of

Columbus

NE

Combined

Utilities

System

Revenue

    4%

6/15/33

200,000

205,030‌

AGC,

    4%

12/15/26

100,000

101,884‌

    4%

12/15/27

100,000

101,957‌

City

of

Columbus

NE

General

Obligation

    3%

12/15/29

150,000

147,484‌

    3%

12/15/30

150,000

146,497‌

City

of

Grand

Island

NE

Combined

Utility

System

Revenue

Series

A

AGC,

    4%

8/15/35

205,000

209,386‌

    4%

8/15/36

125,000

127,165‌

City

of

Grand

Island

NE

General

Obligation

    3%

11/15/27

150,000

149,388‌

    3%

11/15/30

150,000

147,030‌

City

of

Gretna

NE

Certificates

of

Participation

4%

12/15/25

500,000

500,207‌

City

of

Kearney

NE

General

Obligation

4%

5/15/34

220,000

220,673‌

City

of

Lincoln

NE

Electric

System

Revenue

3%

9/1/28

30,000

29,450‌

City

of

Norfolk

NE

General

Obligation

3.38%

5/15/34

500,000

489,071‌

City

of

Omaha

NE

General

Obligation

Series

A

    3%

4/15/35

100,000

92,056‌

Series

A

Class

A

–

    3%

4/15/34

100,000

93,310‌

City

of

Omaha

NE

Riverfront

Redevelopment

Special

Tax

Revenue

Series

A

4%

1/15/33

260,000

267,074‌

City

of

Omaha

NE

Sewer

Revenue

    5%

4/1/26

250,000

256,678‌

    4%

4/1/31

350,000

352,306‌

Series

A

    4%

4/1/34

100,000

102,956‌

County

of

Saline

NE

Revenue

3%

2/15/31

200,000

190,420‌

County

of

Sarpy

NE

Certificates

of

Participation

1.75%

6/15/26

500,000

485,376‌

County

of

Seward

NE

General

Obligation

3%

12/15/30

605,000

592,667‌

Cozad

City

School

District

General

Obligation

4%

6/15/26

250,000

252,685‌

Dawson

County

Public

Power

District

Revenue

Series

A

    2%

6/15/26

170,000

165,054‌

a

a

%

of

Net

Assets

$

Principal

Amount

$

Value

a

a

a

a

a

    2.1%

6/15/27

105,000

100,207‌

Series

B

    2.5%

6/15/28

135,000

128,231‌

    3%

6/15/29

245,000

235,862‌

    3%

6/15/30

355,000

336,630‌

Dodge

County

School

District

No.

595

General

Obligation

1.9%

6/15/32

200,000

171,206‌

Douglas

County

Hospital

Authority

No.

2

Revenue

    5%

5/15/26

500,000

500,207‌

    5%

5/15/30

140,000

143,020‌

    4%

5/15/32

700,000

701,413‌

Douglas

County

Hospital

Authority

No.

3

Revenue

5%

11/1/26

250,000

252,872‌

Douglas

County

School

District

No.

59

NE

General

Obligation

3%

12/15/32

100,000

94,996‌

Lincoln

Airport

Authority

Revenue

5%

7/1/27

150,000

154,787‌

Madison

County

Hospital

Authority

No.

1

Revenue

5%

7/1/35

140,000

138,965‌

Metropolitan

Utilities

District

of

Omaha

Gas

System

Revenue

4%

12/1/27

450,000

450,384‌

Municipal

Energy

Agency

of

Nebraska

Revenue

    5%

4/1/27

350,000

361,510‌

    5%

4/1/28

225,000

232,399‌

Nebraska

Cooperative

Republican

Platte

Enhancement

Project

Revenue

Series

A

2%

12/15/29

250,000

225,266‌

Nebraska

Educational

Health

Cultural

&

Social

Services

Finance

Authority

Revenue

4%

1/1/34

110,000

106,779‌

Nebraska

Investment

Finance

Authority

Revenue

    4.45%

9/1/43

180,000

178,514‌

Series

B

    1.35%

9/1/26

200,000

189,623‌

Series

C

GNMA,

    2%

9/1/35

325,000

255,734‌

Nebraska

Public

Power

District

Revenue

Series

C

5%

1/1/32

65,000

65,951‌

Nebraska

State

College

Facilities

Corp.

Revenue

AGC,

4%

7/15/28

250,000

253,795‌

Omaha

Public

Facilities

Corp.

Revenue

    4%

6/1/28

85,000

86,169‌

Series

A

    4%

6/1/31

155,000

160,782‌

Series

C

    4%

4/1/33

340,000

349,184‌

    4%

4/1/39

500,000

494,980‌

Omaha

Public

Power

District

Revenue

Series

A

    2.85%

2/1/27

500,000

492,802‌

Series

C

    5%

2/1/39

150,000

150,194‌

Omaha

School

District

General

Obligation

    5%

12/15/28

130,000

130,514‌

    5%

12/15/29

350,000

362,294‌

    5%

12/15/31

135,000

139,405‌

Papillion

Municipal

Facilities

Corp.

Revenue

    2%

12/15/32

100,000

85,630‌

    2%

12/15/34

200,000

163,845‌

Papillion-La

Vista

School

District

No.

27

General

Obligation

Series

A

    2.2%

12/1/25

150,000

147,915‌

    2.3%

12/1/26

275,000

268,604‌

Series

B

    4%

12/1/35

400,000

411,553‌

18

Nebraska

Tax

Free

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

%

of

Net

Assets

$

Principal

Amount

$

Value

a

a

a

a

a

Public

Power

Generation

Agency

Revenue

5%

1/1/28

500,000

500,000‌

State

of

Nebraska

Certificates

of

Participation

    3%

2/1/26

60,000

59,864‌

Series

A

    2%

4/1/26

150,000

146,721‌

University

of

Nebraska

Facilities

Corp.

(The)

Revenue

5%

7/15/29

380,000

390,528‌

University

of

Nebraska

Revenue

PRE-REFUNDED/ESCROWED

TO

MATURITY,

    3%

7/1/25

100,000

99,955‌

    2.5%

7/1/26

210,000

208,532‌

    3%

7/1/27

100,000

100,159‌

    5%

5/15/30

100,000

105,662‌

Upper

Republican

Natural

Resource

District

Revenue

AGC,

    4%

12/15/25

245,000

245,176‌

    4%

12/15/27

395,000

395,291‌

Village

of

Boys

Town

NE

Revenue

    3%

9/1/28

700,000

691,279‌

    3%

7/1/35

325,000

298,481‌

Winside

Public

Schools

General

Obligation

2%

6/15/31

350,000

302,522‌

a

19,629,784‌

a

New

Mexico

1.6

New

Mexico

Finance

Authority

Revenue

Series

C

4%

6/1/34

365,000

366,732‌

a

Texas

1.6

City

of

Austin

Tx

Airport

System

Revenue

Series

B

5%

11/15/26

250,000

256,469‌

City

of

Austin

Tx

Electric

Utility

Revenue

Series

A

5%

11/15/35

100,000

109,087‌

a

365,556‌

a

Utah

0.5

City

of

Salt

Lake

City

UT

Public

Utilities

Revenue

5%

2/1/35

100,000

106,909‌

a

Washington

1.4

Pierce

County

School

District

No.

10

Tacoma

General

Obligation

Series

B

AMBAC,

4%

12/1/35

100,000

102,346‌

Port

of

Seattle

WA

Revenue

Series

C

5%

5/1/26

200,000

203,529‌

a

305,875‌

a

Total

Municipal

Bonds

(Cost

$22,048,833)

21,173,701‌

Cash

Equivalents

-

6.2%

a

a

a

a

a

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(Cost

$1,421,452)

(a)

1,421,452

1,421,452‌

a

Total

Investments

in

Securities

-

99.3%

(Cost

$23,470,285)

22,595,153‌

Other

Assets

Less

Other

Liabilities

-  0.7%

166,516‌

Net

Assets

-

100%

22,761,669‌

Net

Asset

Value

Per

Share

-

Investor

Class

9.59

(a)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

19

Partners

III

Opportunity

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Common

Stocks

-

92.5%

a

Financials

%

of

Net

Assets

Shares

$

Value

Transaction

&

Payment

Processing

Services

14.3

Visa,

Inc.

-

Class

A

70,000

22,122,800‌

Mastercard,

Inc.

-

Class

A

40,000

21,062,800‌

Global

Payments,

Inc.

160,000

17,929,600‌

a

Multi-Sector

Holdings

11.4

Berkshire

Hathaway,

Inc.

-

Class

B

(a)

(b)

108,000

48,954,240‌

a

Insurance

Brokers

4.2

Aon

plc

-

Class

A

50,000

17,958,000‌

a

29.9

128,027,440‌

Communication

Services

Interactive

Media

&

Services

7.9

Alphabet,

Inc.

-

Class

C

100,000

19,044,000‌

Meta

Platforms,

Inc.

-

Class

A

25,000

14,637,750‌

a

Cable

&

Satellite

6.4

Liberty

Broadband

Corp.

(a)

Class

C

325,000

24,297,000‌

Class

A

40,000

2,974,400‌

a

Communications

Equipment

3.4

Sirius

XM

Holdings,

Inc.^

650,000

14,820,000‌

a

Alternative

Carriers

1.5

Liberty

Global,

Ltd.

-

Class

C

(a)

(c)

487,333

6,403,556‌

a

19.2

82,176,706‌

Health

Care

Life

Sciences

Tools

&

Services

11.0

Danaher

Corp.

85,000

19,511,750‌

Thermo

Fisher

Scientific,

Inc.

35,000

18,208,050‌

Bio-Techne

Corp.

130,000

9,363,900‌

a

Health

Care

Services

3.2

Labcorp

Holdings,

Inc.

60,000

13,759,200‌

a

14.2

60,842,900‌

Information

Technology

Application

Software

5.8

Roper

Technologies,

Inc.

25,000

12,996,250‌

CoreCard

Corp.

†

(a)

515,000

11,690,500‌

a

Systems

Software

3.4

Microsoft

Corp.

35,000

14,752,500‌

a

Semiconductor

Materials

&

Equipment

3.1

Texas

Instruments,

Inc.

70,000

13,125,700‌

a

12.3

52,564,950‌

Consumer

Discretionary

Broadline

Retail

4.1

Amazon.com,

Inc.

(a)

(b)

80,000

17,551,200‌

a

Consumer

Discretionary  

%

of

Net

Assets

Shares

$

Value

a

Automotive

Retail

3.8

CarMax,

Inc.

(a)

200,000

16,352,000‌

a

7.9

33,903,200‌

Industrials

Industrial

Machinery

&

Supplies

&

Components

3.9

IDEX

Corp.

80,000

16,743,200‌

Materials

Specialty

Chemicals

2.8

Perimeter

Solutions,

Inc.

(a)

925,000

11,821,500‌

Real

Estate

Real

Estate

Services

2.3

CoStar

Group,

Inc.

(a)

140,000

10,022,600‌

a

Total

Common

Stocks

(Cost

$196,705,012)

396,102,496‌

Cash

Equivalents

-

7.4%

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

U.S.

Treasury

Bills,

4.03%

to

4.08%,

2/18/25

to

3/18/25

(d)

(e)

22,000,000

21,849,511‌

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(e)

9,426,249

9,426,249‌

Northern

U.S.

Government

Select

Money

Market

Fund

4.16%

(e)

302,673

302,673‌

a

Total

Cash

Equivalents

(Cost

$31,566,974)

31,578,433‌

Short-Term

Securities

Held

as

Collateral

for

Securities

on

Loan

-

1.4%

a

a

a

a

a

a

Goldman

Sachs

Financial

Square

Government

Fund

Institutional

Class

–

4.36%

(e)

5,231,175

5,231,175‌

Citibank

N.A.

DDCA

4.33%

581,242

581,242‌

a

Total

Short-Term

Securities

Held

as

Collateral

for

Securities

on

Loan

(Cost

$5,812,417)

5,812,417‌

Total

Investments

in

Securities

-

101.3%

(Cost

$234,084,403)

433,493,346‌

Due

from

Broker

-

4.9%

21,046,900‌

Securities

Sold

Short

-

(4.8)%

(20,512,800‌)

Other

Assets

Less

Other

Liabilities

-  (1.4%)

(6,057,222‌)

Net

Assets

-

100%

427,970,224‌

Net

Asset

Value

Per

Share

-

Investor

Class

11.91

Net

Asset

Value

Per

Share

-

Institutional

Class

13.26

20

Partners

III

Opportunity

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

Securities

Sold

Short

-

(4.8)%

Shares

$

Value

a

SPDR

S&P

500

ETF

Trust

35,000

(20,512,800‌)

Total

Securities

Sold

Short

(proceeds

$7,361,008)

(20,512,800‌)

†

Non-controlled

affiliate.

^

This

security

or

a

partial

position

of

this

security

was

on

loan

as

of

December

31,

2024.

The

total

value

of

securities

on

loan

as

of

December

31,

2024

was

$5,685,978.

(a)

Non-income

producing.

(b)

Fully

or

partially

pledged

as

collateral

on

securities

sold

short

and

outstanding

written

options.

(c)

Foreign

domiciled

entity.

(d)

Interest

rates

presented

represent

the

effective

yield

at

December

31,

2024.

(e)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

21

Short

Duration

Income

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Corporate

Bonds

-

5.6%

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Agree,

LP

2%

6/15/28

2,239,000

2,029,761‌

American

Airlines,

Inc./AAdvantage

Loyalty

IP

Ltd.

5.5%

4/20/26

(a)

(b)

1,037,500

1,034,966‌

Ares

Capital

Corp.

7%

1/15/27

1,000,000

1,036,704‌

Ares

Strategic

Income

Fund

5.7%

3/15/28

(b)

3,000,000

3,000,590‌

Ashtead

Capital,

Inc.

1.5%

8/12/26

(b)

4,800,000

4,544,878‌

4.38%

8/15/27

(b)

3,000,000

2,949,656‌

Bath

&

Body

Works,

Inc.

9.38%

7/1/25

(b)

1,000,000

1,018,210‌

6.69%

1/15/27

945,000

968,935‌

Blackstone

Secured

Lending

Fund

5.88%

11/15/27

250,000

254,014‌

Boeing

Co.

(The)

6.26%

5/1/27

(b)

2,500,000

2,560,156‌

Cantor

Fitzgerald

LP

4.5%

4/14/27

(b)

1,500,000

1,472,329‌

Concentrix

Corp.

6.65%

8/2/26

2,910,000

2,961,971‌

Delta

Air

Lines,

Inc./SkyMiles

IP

Ltd.

4.5%

10/20/25

(a)

(b)

999,000

993,049‌

Devon

Energy

Corp.

5.25%

10/15/27

390,000

390,518‌

Energy

Transfer

LP

5.63%

5/1/27

(b)

610,000

611,634‌

EPR

Properties

4.75%

12/15/26

4,869,000

4,831,525‌

4.5%

6/1/27

1,000,000

983,377‌

Expedia

Group,

Inc.

6.25%

5/1/25

(b)

1,672,000

1,673,194‌

Gartner,

Inc.

4.5%

7/1/28

(b)

1,200,000

1,170,217‌

Hercules

Capital,

Inc.

2.63%

9/16/26

1,500,000

1,428,551‌

Highwoods

Realty

LP

3.88%

3/1/27

750,000

729,733‌

Kite

Realty

Group

Trust

4%

3/15/25

2,083,000

2,077,200‌

Mileage

Plus

Holdings

LLC/Mileage

Plus

Intellectual

Property

Assets

Ltd.

6.5%

6/20/27

(b)

1,257,850

1,266,684‌

MPLX

LP

4.88%

6/1/25

1,961,000

1,959,997‌

Penske

Truck

Leasing

Co.

Lp

/

PTL

Finance

Corp.

5.35%

3/30/29

(b)

6,000,000

6,049,259‌

Retail

Opportunity

Investments

Partnership

LP

6.75%

10/15/28

3,500,000

3,710,063‌

Starwood

Property

Trust,

Inc.

4.75%

3/15/25

883,000

884,825‌

Synchrony

Bank

5.4%

8/22/25

1,000,000

1,001,516‌

VICI

Properties

LP/VICI

Note

Co.,

Inc.

4.63%

6/15/25

(b)

3,100,000

3,092,292‌

Vontier

Corp.

1.8%

4/1/26

1,004,000

963,694‌

a

Total

Corporate

Bonds

(Cost

$57,074,264)

57,649,498‌

Corporate

Convertible

Bonds

-

0.3%

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Redwood

Trust

Holdings,

Inc.

5.75%

10/1/25

(Cost

$3,000,000)

3,000,000

2,985,000‌

Asset-Backed

Securities

-

34.2%

a

a

a

a

a

Automobile

ACM

Auto

Trust

(ACMAT)

Series

2023-2A

Class

A

–7.97%

6/20/30

(b)

981,070

985,163‌

Series

2023-2A

Class

B

–9.85%

6/20/30

(b)

3,000,000

3,088,318‌

Series

2024-1A

Class

A

–7.71%

1/21/31

(b)

263,744

264,394‌

Series

2024-2A

Class

A

–6.06%

2/20/29

(b)

3,045,602

3,056,981‌

AmeriCredit

Automobile

Receivables

Trust

(AMCAR)

Series

2020-3

Class

D

–1.49%

9/18/26

3,000,000

2,968,554‌

ARI

Fleet

Lease

Trust

(ARIFL)

Series

2023-B

Class

A2

–6.05%

7/15/32

(b)

2,190,769

2,214,741‌

Series

2024-A

Class

A2

–5.3%

11/15/32

(b)

1,124,520

1,131,048‌

Series

2024-B

Class

A2

–5.54%

4/15/33

(b)

1,530,000

1,543,124‌

Arivo

Acceptance

Auto

Loan

Receivables

Trust

(ARIVO)

Series

2022-1A

Class

A

–3.93%

5/15/28

(b)

854,902

851,347‌

Bayview

Opportunity

Master

Fund

VII

Trust

(BVABS)

Series

2024-CAR1

Class

A

–5.67%

12/26/31

Floating

Rate

(SOFR30A

+

110)

(b)

(c)

2,136,668

2,142,739‌

Series

2024-CAR1

Class

B

–5.87%

12/26/31

Floating

Rate

(SOFR30A

+

130)

(b)

(c)

1,246,390

1,249,780‌

Series

2024-CAR1F

Class

A

–6.97%

7/29/32

(b)

1,533,709

1,538,294‌

BOF

URSA

VI

Funding

Trust

I

(BVABS)

Series

2023-CAR1

Class

A2

–5.54%

10/27/31

(b)

242,408

243,447‌

Series

2023-CAR2

Class

A2

–5.54%

10/27/31

(b)

562,236

564,642‌

BOF

VII

AL

Funding

Trust

I

(BVABS)

Series

2023-CAR3

Class

A2

–6.29%

7/26/32

(b)

2,622,028

2,665,646‌

CFMT

LLC

(CFMT)

Series

2021-AL1

Class

B

–1.39%

9/22/31

(b)

785,022

770,789‌

Chesapeake

Funding

II

LLC

(CFII)

Series

2023-1A

Class

A1

–5.65%

5/15/35

(b)

1,434,206

1,443,876‌

Series

2023-2A

Class

A1

–6.16%

10/15/35

(b)

924,771

938,600‌

Series

S2-1A

Class

A1

–5.52%

5/15/36

(b)

2,400,731

2,427,835‌

Enterprise

Fleet

Financing

LLC

(EFF)

Series

2023-1

Class

A2

–5.51%

1/22/29

(b)

393,295

395,364‌

Series

2023-2

Class

A2

–5.56%

4/22/30

(b)

2,892,596

2,918,323‌

Series

2023-3

Class

A2

–6.4%

3/20/30

(b)

2,528,519

2,577,067‌

Series

2024-1

Class

A2

–5.23%

3/20/30

(b)

1,671,540

1,684,139‌

Series

2024-2

Class

A3

–5.61%

4/20/28

(b)

2,700,000

2,748,504‌

Series

2024-3

Class

A3

–4.98%

8/21/28

(b)

1,870,000

1,882,523‌

Series

2024-4

Class

A3

–4.56%

11/20/28

(b)

1,400,000

1,395,030‌

Exeter

Automobile

Receivables

Trust

(EART)

Series

2021-1A

Class

D

–1.08%

11/16/26

418,928

414,836‌

First

Help

Financial

Trust

(FHF)

Series

2022-1A

Class

A

–4.43%

1/18/28

(b)

1,037,929

1,035,895‌

Series

2022-2A

Class

A

–6.14%

12/15/27

(b)

257,618

259,214‌

Series

2023-1A

Class

A2

–6.57%

6/15/28

(b)

939,472

951,419‌

Series

2023-2A

Class

A2

–6.79%

10/15/29

(b)

1,119,511

1,140,619‌

Series

2024-2A

Class

A2

–5.89%

6/15/30

(b)

2,890,630

2,926,878‌

Series

2024-3A

Class

A2

–4.94%

11/15/30

(b)

3,750,000

3,743,990‌

First

Investors

Auto

Owner

Trust

(FIAOT)

Series

2022-1A

Class

A

–2.03%

1/15/27

(b)

79,502

79,360‌

Huntington

Bank

Auto

Credit-Linked

Notes

(HACLN)

Series

2024-2

Class

B1

–5.44%

10/20/32

(b)

1,867,929

1,870,477‌

LAD

Auto

Receivables

Trust

(LADAR)

Series

2022-1A

Class

A

–5.21%

6/15/27

(b)

980,846

982,497‌

Series

2023-1A

Class

A2

–5.68%

10/15/26

(b)

210,696

210,794‌

Series

2023-1A

Class

B

–5.59%

8/16/27

(b)

2,500,000

2,514,058‌

Series

2023-2A

Class

A2

–5.93%

6/15/27

(b)

460,466

461,651‌

22

Short

Duration

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Series

2023-4A

Class

A3

–6.1%

12/15/27

(b)

3,625,000

3,653,244‌

Lendbuzz

Auto

Receivables

Trust

(LBZZ)

Series

2024-A

Class

A

–6%

5/15/31

(b)

5,000,000

5,004,600‌

Lendbuzz

Securitization

Trust

(LBZZ)

Series

2023-1A

Class

A2

–6.92%

8/15/28

(b)

3,424,603

3,480,716‌

Series

2023-3A

Class

A2

–7.5%

12/15/28

(b)

5,354,159

5,493,145‌

Series

2024-1A

Class

A2

–6.19%

8/15/29

(b)

1,938,767

1,960,364‌

Series

2024-2A

Class

A2

–5.99%

5/15/29

(b)

5,440,414

5,498,786‌

Series

2024-3A

Class

A2

–4.97%

10/15/29

(b)

2,250,000

2,250,500‌

Lobel

Automobile

Receivables

Trust

(LOBEL)

Series

2023-2

Class

A

–7.59%

4/16/29

(b)

310,369

313,337‌

Merchants

Fleet

Funding

LLC

(MFF)

Series

2023-1A

Class

A

–7.21%

5/20/36

(b)

6,393,579

6,471,941‌

OneMain

Direct

Auto

Receivables

Trust

(ODART)

Series

2021-1A

Class

A

–0.87%

7/14/28

(b)

733,521

722,829‌

Series

2022-1A

Class

C

–1.42%

7/14/28

(b)

4,100,000

3,952,207‌

Prestige

Auto

Receivables

Trust

(PART)

Series

2022-1A

Class

B

–6.55%

7/17/28

(b)

1,312,778

1,314,591‌

Research-Driven

Pagaya

Motor

Asset

Trust

(RPM)

Series

2023-3A

Class

A

–7.13%

1/26/32

(b)

3,232,520

3,263,235‌

Series

2023-4A

Class

A

–7.54%

3/25/32

(b)

3,764,883

3,818,899‌

SAFCO

Auto

Receivables

Trust

(SAFCO)

Series

2024-1A

Class

A

–6.51%

3/20/28

(b)

1,903,178

1,915,783‌

Santander

Bank

NA

(SBCLN)

Series

2021-1A

Class

B

–1.83%

12/15/31

(b)

2,216

2,213‌

SFS

Auto

Receivables

Securitization

Trust

(SFAST)

Series

2023-1A

Class

A2A

–5.89%

3/22/27

(b)

412,600

413,560‌

Tricolor

Auto

Securitization

Trust

(TAST)

Series

2024-3A

Class

A

–5.22%

6/15/28

(b)

1,738,251

1,743,869‌

United

Auto

Credit

Securitization

Trust

(UACST)

Series

2024-1

Class

A

–6.17%

8/10/26

(b)

962,461

964,242‌

Series

2024-1

Class

B

–6.57%

6/10/27

(b)

6,000,000

6,055,342‌

Wheels

Fleet

Lease

Funding

LLC

(WFLF)

Series

2023-2A

Class

A

–6.46%

8/18/38

(b)

5,432,852

5,536,503‌

Series

2024-1A

Class

A1

–5.49%

2/18/39

(b)

4,500,000

4,553,298‌

Series

2024-2A

Class

A1

–4.87%

6/21/39

(b)

6,300,000

6,311,739‌

a

134,976,899‌

a

Collateralized

Loan

Obligations

ABPCI

Direct

Lending

Fund

CLO

I

LLC

(ABPCI)

Series

2016-1A

Class

A1A2

–6.58%

7/20/33

Floating

Rate

(TSFR3M

+

196)

(a)

(b)

(c)

2,000,000

2,002,507‌

Audax

Senior

Debt

CLO

6

LLC

(AUDAX)

Series

2021-6A

Class

A1

–6.38%

10/20/33

Floating

Rate

(TSFR3M

+

176)

(b)

(c)

6,000,000

6,005,854‌

AUF

Funding

LLC

(ANTF)

Series

2022-1A

Class

B1

–8.37%

1/20/31

Floating

Rate

(TSFR3M

+

375)

(b)

(c)

2,500,000

2,513,183‌

BlackRock

Elbert

CLO

V

LLC

(ELB)

Series

5A

Class

AR

–6.21%

6/15/34

Floating

Rate

(TSFR3M

+

185)

(b)

(c)

1,999,501

2,003,737‌

BlackRock

Rainier

CLO

VI

Ltd.

(BLKMM)

Series

2021-6A

Class

A

–6.58%

4/20/33

Floating

Rate

(TSFR3M

+

196)

(a)

(b)

(c)

5,500,000

5,506,855‌

Brightwood

Capital

MM

CLO

Ltd.

(BWCAP)

Series

2020-1A

Class

A1R

–7.46%

1/15/31

Floating

Rate

(TSFR3M

+

280)

(a)

(b)

(c)

560,933

561,342‌

Cerberus

Loan

Funding

XLIII

LLC

(CERB)

Series

2023-4A

Class

A

–7.08%

10/15/35

Floating

Rate

(TSFR3M

+

243)

(b)

(c)

3,000,000

3,065,314‌

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Cerberus

Loan

Funding

XXXII,

LP

(CERB)

Series

2021-2A

Class

A

–6.54%

4/22/33

Floating

Rate

(TSFR3M

+

188)

(a)

(b)

(c)

3,000,000

3,003,386‌

Churchill

Middle

Market

CLO

III

Ltd.

(CHMML)

Series

2021-1A

Class

A1

–6.4%

10/24/33

Floating

Rate

(TSFR3M

+

176)

(a)

(b)

(c)

2,750,000

2,752,709‌

CIFC-LBC

Middle

Market

CLO

LLC

(CLBC)

Series

2023-1A

Class

A1

–7.22%

10/20/35

Floating

Rate

(TSFR3M

+

260)

(b)

(c)

5,000,000

5,060,499‌

Deerpath

Capital

CLO

Ltd.

(DPATH)

Series

2021-2A

Class

A1

–6.52%

1/15/34

Floating

Rate

(TSFR3M

+

186)

(a)

(b)

(c)

4,000,000

4,006,706‌

Series

2023-1A

Class

A1

–7.46%

4/15/35

Floating

Rate

(TSFR3M

+

280)

(a)

(b)

(c)

3,000,000

3,022,144‌

Fortress

Credit

Opportunities

IX

CLO

Ltd.

(FCO)

Series

2017-9A

Class

A1TR

–6.47%

10/15/33

Floating

Rate

(TSFR3M

+

181)

(a)

(b)

(c)

1,500,000

1,500,919‌

Fortress

Credit

Opportunities

XV

CLO

Ltd.

(FCO)

Series

2021-15A

Class

A2

–6.44%

4/25/33

Floating

Rate

(TSFR3M

+

181)

(a)

(b)

(c)

3,500,000

3,503,664‌

Golub

Capital

Partners

CLO

54M

LP

(GOCAP)

Series

2021-54A

Class

A2

–6.35%

8/5/33

Floating

Rate

(TSFR3M

+

179)

(a)

(b)

(c)

4,500,000

4,507,702‌

Series

2021-54A

Class

B

–6.67%

8/5/33

Floating

Rate

(TSFR3M

+

211)

(a)

(b)

(c)

2,500,000

2,505,021‌

Ivy

Hill

Middle

Market

Credit

Fund

IX

Ltd.

(IVYH)

Series

9A

Class

A1TR

–6.25%

4/23/34

Floating

Rate

(TSFR3M

+

162)

(a)

(b)

(c)

3,500,000

3,504,296‌

KKR

Lending

Partners

III

CLO

LLC

(KKRLP)

Series

2021-1A

Class

B

–6.78%

10/20/30

Floating

Rate

(TSFR3M

+

216)

(b)

(c)

2,000,000

2,004,108‌

Maranon

Loan

Funding

Ltd.

(MRNON)

Series

2021-2RA

Class

A1R

–6.61%

7/15/33

Floating

Rate

(TSFR3M

+

195)

(a)

(b)

(c)

5,000,000

5,005,927‌

Monroe

Capital

Funding

CLO

X

Ltd.

(MCFCL)

Series

2023-1A

Class

A

–7.06%

4/15/35

Floating

Rate

(TSFR3M

+

240)

(a)

(b)

(c)

3,000,000

3,016,563‌

Monroe

Capital

MML

CLO

XII

Ltd.

(MCMML)

Series

2021-2A

Class

A1

–6.12%

9/14/33

Floating

Rate

(TSFR3M

+

176)

(a)

(b)

(c)

7,500,000

7,509,206‌

New

Mountain

Guardian

IV

Income

Rated

Feeder

II,

Ltd.

(NMRF)

Series

2024-1A

Class

A

–7.27%

4/5/37

Floating

Rate

(TSFR3M

+

275)

(a)

(b)

(c)

#

5,000,000

5,037,219‌

Owl

Rock

CLO

VIII

LLC

(OR)

Series

2022-8A

Class

AT

–7.02%

11/20/34

Floating

Rate

(TSFR3M

+

250)

(b)

(c)

2,000,000

2,008,355‌

Starwood

Property

Mortgage

Trust

(STWD)

Series

2024-SIF3A

Class

A1

–6.6%

4/17/36

Floating

Rate

(TSFR3M

+

195)

(b)

(c)

5,000,000

5,047,600‌

a

84,654,816‌

a

Consumer

&

Specialty

Finance

Affirm

Asset

Securitization

Trust

(AFFRM)

Series

2022-Z1

Class

A

–4.55%

6/15/27

(b)

229,343

229,109‌

Series

2023-X1

Class

A

–7.11%

11/15/28

(b)

124,656

124,968‌

Bankers

Healthcare

Group

Securitization

Trust

(BHG)

Series

2021-A

Class

A

–1.42%

11/17/33

(b)

206,003

201,279‌

Series

2022-B

Class

B

–4.84%

6/18/35

(b)

858,378

856,870‌

Series

2022-C

Class

A

–5.32%

10/17/35

(b)

22,840

22,840‌

Series

2023-A

Class

A

–5.55%

4/17/36

(b)

1,782,172

1,786,490‌

Series

2023-B

Class

A

–6.92%

12/17/36

(b)

1,063,125

1,098,765‌

Series

2024-1A

Class

A

–5.81%

4/17/35

(b)

1,320,370

1,335,579‌

23

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Finance

of

America

HECM

Buyout

(FAHB)

Series

2024-HB1

Class

A1A

–4%

10/1/34

(b)

(c)

3,704,325

3,663,607‌

Series

2024-HB1

Class

A1B

–4%

10/1/34

(b)

(c)

4,000,000

3,913,440‌

Foundation

Finance

Trust

(FFIN)

Series

2021-2A

Class

A

–2.19%

1/15/42

(b)

941,257

882,505‌

Series

2023-1A

Class

A

–5.67%

12/15/43

(b)

1,277,427

1,289,426‌

Series

2023-2A

Class

A

–6.53%

6/15/49

(b)

2,899,222

2,988,460‌

Series

2024-1A

Class

A

–5.5%

12/15/49

(b)

2,609,070

2,634,096‌

Series

2024-2A

Class

A

–4.6%

3/15/50

(b)

1,593,563

1,577,583‌

Goodleap

Home

Improvement

Solutions

Trust

(GDLP)

Series

2024-1A

Class

A

–5.35%

10/20/46

(b)

2,412,443

2,405,024‌

Greensky

Home

Improvement

Issuer

Trust

(GSKY)

Series

2024-2

Class

A2

–5.25%

10/27/59

(b)

6,125,000

6,138,270‌

Series

2024-2

Class

A4

–5.15%

10/27/59

(b)

3,000,000

2,999,075‌

GreenSky

Home

Improvement

Trust

(GSKY)

Series

2024-1

Class

A2

–5.88%

6/25/59

(b)

3,933,218

3,955,986‌

Hilton

Grand

Vacations

Trust

(HGVT)

Series

2020-AA

Class

A

–2.74%

2/25/39

(b)

112,280

108,683‌

Lendingpoint

Asset

Securitization

Trust

(LDPT)

Series

2022-B

Class

A

–4.77%

10/15/29

(b)

44,582

44,511‌

LP

LMS

Asset

Securitization

Trust

(LPMS)

Series

2023-1A

Class

A

–8.18%

10/17/33

(b)

161,602

161,879‌

Octane

Receivables

Trust

(OCTL)

Series

2021-2A

Class

A

–1.21%

9/20/28

(b)

167,635

166,490‌

Series

2022-1A

Class

A2

–4.18%

3/20/28

(b)

478,396

477,821‌

Series

2022-2A

Class

A

–5.11%

2/22/28

(b)

345,692

345,924‌

Series

2023-1A

Class

A

–5.87%

5/21/29

(b)

393,242

395,111‌

Series

2023-2A

Class

A2

–5.88%

6/20/31

(b)

2,126,949

2,137,871‌

Series

2024-2A

Class

A2

–5.8%

7/20/32

(b)

6,158,869

6,228,570‌

Pagaya

AI

Debt

Grantor

Trust

(PAID)

Series

2024-11

Class

B

–5.64%

7/15/32

(b)

3,106,144

3,111,314‌

Pagaya

AI

Debt

Selection

Trust

(PAID)

Series

2021-HG1

Class

A

–1.22%

1/16/29

(b)

206,408

204,170‌

Pagaya

AI

Debt

Trust

(PAID)

Series

2022-5

Class

A

–8.1%

6/17/30

(b)

460,871

465,129‌

Series

2023-1

Class

A

–7.56%

7/15/30

(b)

117,650

117,828‌

Series

2023-3

Class

A

–7.6%

12/16/30

(b)

448,660

451,110‌

Series

2024-1

Class

A

–6.66%

7/15/31

(b)

353,366

357,733‌

Series

2024-3

Class

B

–6.57%

10/15/31

(b)

4,678,963

4,711,904‌

Series

2024-8

Class

B

–5.46%

1/15/32

(b)

8,999,599

9,012,987‌

Prosper

Marketplace

Issuance

Trust

(PMIT)

Series

2023-1A

Class

A

–7.06%

7/16/29

(b)

109,223

109,476‌

Reach

ABS

Trust

(REACH)

Series

2024-1A

Class

A

–6.3%

2/18/31

(b)

770,582

775,539‌

Series

2024-2A

Class

A

–5.88%

7/15/31

(b)

1,439,049

1,446,505‌

Sierra

Timeshare

Receivables

Funding

LLC

(SRFC)

Series

2020-2A

Class

A

–1.33%

7/20/37

(b)

246,746

243,489‌

Theorem

Funding

Trust

(THRM)

Series

2022-3A

Class

A

–7.6%

4/15/29

(b)

600,953

605,911‌

Upstart

Securitization

Trust

(UPST)

Series

2023-1

Class

A

–6.59%

2/20/33

(b)

20,642

20,653‌

Series

2023-2

Class

A

–6.77%

6/20/33

(b)

937,804

941,384‌

a

70,745,364‌

a

Equipment

Amur

Equipment

Finance

Receivables

XI

LLC

(AXIS)

Series

2022-2A

Class

A2

–5.3%

6/21/28

(b)

817,783

821,465‌

Amur

Equipment

Finance

Receivables

XII

LLC

(AXIS)

Series

2023-1A

Class

A2

–6.09%

12/20/29

(b)

2,215,621

2,246,053‌

Amur

Equipment

Finance

Receivables

XIII

LLC

(AXIS)

Series

2024-1A

Class

A2

–5.38%

1/21/31

(b)

1,532,903

1,548,498‌

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Amur

Equipment

Finance

Receivables

XIV

LLC

(AXIS)

Series

2024-2A

Class

A2

–5.19%

7/21/31

(b)

3,230,000

3,259,168‌

Auxilior

Term

Funding

LLC

(XCAP)

Series

2023-1A

Class

A2

–6.18%

12/15/28

(b)

2,964,132

2,999,438‌

Series

2024-1A

Class

A3

–5.49%

7/15/31

(b)

3,500,000

3,544,010‌

Crossroads

Asset

Trust

(XROAD)

Series

2024-A

Class

A2

–5.9%

8/20/30

(b)

1,488,864

1,507,847‌

Dell

Equipment

Finance

Trust

(DEFT)

Series

2023-2

Class

A2

–5.84%

1/22/29

(b)

318,874

319,259‌

Series

2023-3

Class

A2

–6.1%

4/23/29

(b)

595,806

597,766‌

Series

2023-3

Class

A3

–5.93%

4/23/29

(b)

3,500,000

3,547,726‌

Series

2024-1

Class

A3

–5.39%

3/22/30

(b)

1,830,000

1,851,738‌

Series

2024-2

Class

A3

–4.59%

8/22/30

(b)

900,000

900,232‌

Dext

ABS

LLC

(DEXT)

Series

2023-2

Class

A2

–6.56%

5/15/34

(b)

3,295,003

3,333,290‌

DLLMT

LLC

(DLLMT)

Series

2024-1A

Class

A3

–4.84%

8/21/28

(b)

3,520,000

3,532,557‌

DLLST

LLC

(DLLST)

Series

2024-1A

Class

A3

–5.05%

8/20/27

(b)

1,140,000

1,145,985‌

Granite

Park

Equipment

Leasing

LLC

(SCFGP)

Series

2023-1A

Class

A2

–6.51%

5/20/30

(b)

3,476,425

3,521,128‌

Series

2023-1A

Class

A3

–6.46%

9/20/32

(b)

1,400,000

1,447,494‌

GreatAmerica

Leasing

Receivables

Funding

LLC

(GALC)

Series

2024-2

Class

A3

–5%

9/15/28

(b)

2,160,000

2,178,599‌

HPEFS

Equipment

Trust

(HPEFS)

Series

2023-1A

Class

A2

–5.43%

8/20/25

(b)

305,409

305,606‌

Series

2024-2A

Class

A3

–5.36%

10/20/31

(b)

1,125,000

1,136,912‌

Kubota

Credit

Owner

Trust

(KCOT)

Series

2024-2A

Class

A3

–5.26%

11/15/28

(b)

2,060,000

2,090,062‌

M&T

Equipment

Notes

(MTLRF)

Series

2024-1

Class

A2

–4.99%

8/18/31

(b)

2,700,000

2,708,866‌

MMAF

Equipment

Finance

LLC

(MMAF)

Series

2022-B

Class

A3

–5.61%

7/10/28

(b)

1,951,863

1,957,582‌

Series

2023-A

Class

A2

–5.79%

11/13/26

(b)

1,317,619

1,324,965‌

OWN

Equipment

Fund

I

LLC

(EQS)

Series

2024-2M

Class

A

–5.7%

12/20/32

(b)

3,500,000

3,509,053‌

SCF

Equipment

Leasing

LLC

(SCFET)

Series

2022-2A

Class

A3

–6.5%

10/21/30

(b)

2,510,691

2,524,473‌

Series

2023-1A

Class

A3

–6.17%

5/20/32

(b)

3,500,000

3,602,337‌

a

57,462,109‌

a

Fiber

ALLO

Issuer

LLC

(ALLO)

Series

2024-1A

Class

A2

–5.94%

7/20/54

(b)

3,000,000

3,031,298‌

a

Other

Verizon

Master

Trust

(VZMT)

Series

2023-7

Class

A1A

–5.67%

11/20/29

3,000,000

3,063,026‌

a

Total

Asset-Backed

Securities

(Cost

$351,375,926)

353,933,512‌

Commercial

Mortgage-Backed

Securities

-

5.6%

a

a

a

a

a

AREIT

LLC

(AREIT)

Series

2023-CRE8

Class

AS

–7.25%

8/17/41

Floating

Rate

(TSFR1M

+

287)

(a)

(b)

5,000,000

5,037,862‌

AREIT

Trust

(AREIT)

Series

2021-CRE5

Class

A

–5.58%

11/17/38

Floating

Rate

(TSFR1M

+

119)

(a)

(b)

685,158

686,095‌

24

Short

Duration

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

AREIT,

Ltd.

(AREIT)

Series

2024-CRE9

Class

AS

–6.63%

5/17/41

Floating

Rate

(TSFR1M

+

224)

(a)

(b)

5,000,000

5,021,511‌

BRSP

Ltd.

(BRSP)

Series

2021-FL1

Class

A

–5.63%

8/19/38

Floating

Rate

(TSFR1M

+

126)

(a)

(b)

1,568,322

1,560,881‌

Series

2024-FL2

Class

A

–6.31%

8/19/37

Floating

Rate

(TSFR1M

+

195)

(a)

(b)

5,000,000

5,027,482‌

FS

Rialto

Issuer

LLC

(FSRIA)

Series

2022-FL5

Class

A

–6.67%

6/19/37

Floating

Rate

(TSFR1M

+

230)

(b)

3,706,293

3,715,079‌

Series

2022-FL7

Class

A

–7.29%

10/19/39

Floating

Rate

(TSFR1M

+

290)

(b)

1,299,733

1,303,594‌

GPMT

Ltd.

(GPMT)

Series

2021-FL3

Class

A

–5.74%

7/16/35

Floating

Rate

(TSFR1M

+

136)

(a)

(b)

1,888,739

1,878,786‌

HERA

Commercial

Mortgage

Ltd.

(HERA)

Series

2021-FL1

Class

A

–5.54%

2/18/38

Floating

Rate

(TSFR1M

+

116)

(a)

(b)

1,648,859

1,651,538‌

HGI

CRE

CLO

Ltd.

(HGI)

Series

2021-FL1

Class

A4

–5.56%

6/16/36

Floating

Rate

(TSFR1M

+

116)

(a)

(b)

672,375

674,121‌

Series

2021-FL1

Class

AS

–5.91%

6/16/36

Floating

Rate

(TSFR1M

+

151)

(a)

(b)

4,000,000

4,019,161‌

Series

2021-FL2

Class

A4

–5.51%

9/17/36

Floating

Rate

(TSFR1M

+

111)

(a)

(b)

1,096,801

1,099,201‌

HIG

RCP

LLC

(HIG)

Series

2023-FL1

Class

A

–6.67%

9/19/38

Floating

Rate

(TSFR1M

+

227)

(b)

1,276,168

1,280,875‌

Hilton

USA

Trust

(HILT)

Series

2016-SFP

Class

E

–5.52%

11/5/35

(b)

(e)

4,300,000

230,355‌

ILPT

Commercial

Mortgage

Trust

(ILPT)

Series

2022-LPF2

Class

A

–6.64%

10/15/39

Floating

Rate

(TSFR1M

+

225)

(b)

1,000,000

1,004,610‌

KREF

Ltd.

(KREF)

Series

2021-FL2

Class

A4

–5.57%

2/15/39

Floating

Rate

(TSFR1M

+

118)

(a)

(b)

3,441,513

3,428,626‌

LoanCore

Issuer

Ltd.

(LNCR)

Series

2021-CRE5

Class

A

–5.81%

7/15/36

Floating

Rate

(TSFR1M

+

141)

(a)

(b)

3,024,007

3,036,492‌

PFP

Ltd.

(PFP)

Series

2024-11

Class

A

–6.31%

9/17/39

Floating

Rate

(TSFR1M

+

183)

(a)

(b)

3,707,357

3,725,406‌

Series

2024-11

Class

AS

–6.67%

9/17/39

Floating

Rate

(TSFR1M

+

219)

(a)

(b)

4,725,652

4,748,680‌

STWD

Ltd.

(STWD)

Series

2022-FL3

Class

A

–5.95%

11/15/38

Floating

Rate

(SOFR30A

+

135)

(a)

(b)

5,554,131

5,557,609‌

VMC

Finance

LLC

(VMC)

Series

2021-FL4

Class

A

–5.59%

6/16/36

Floating

Rate

(TSFR1M

+

121)

(b)

241,610

239,500‌

Series

2022-FL5

Class

AS

–7%

2/18/39

Floating

Rate

(SOFR30A

+

240)

(b)

3,500,000

3,499,328‌

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$62,132,158)

58,426,792‌

Mortgage-Backed

Securities

-

25.8%

a

a

a

a

a

Federal

Home

Loan

Mortgage

Corporation

Collateralized

Mortgage

Obligations

Series

3649

Class

A

–4%

3/15/25

3,697

3,689‌

Series

4107

Class

LW

–1.75%

8/15/27

3,430,712

3,323,243‌

Series

4281

Class

AG

–2.5%

12/15/28

558

555‌

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Series

3003

Class

LD

–5%

12/15/34

303,537

305,071‌

Series

2952

Class

PA

–5%

2/15/35

83,645

82,933‌

Series

5486

Class

VB

–5%

5/25/35

5,001,721

4,949,597‌

Series

3620

Class

PA

–4.5%

12/15/39

198,962

197,765‌

Series

3842

Class

PH

–4%

4/15/41

309,207

301,090‌

Series

5436

Class

AB

–5.5%

4/25/49

7,689,836

7,655,255‌

Series

5440

Class

B

–5.5%

9/25/49

5,054,846

5,122,011‌

Series

5444

Class

AB

–5.5%

9/25/49

5,059,280

5,069,534‌

Series

5413

Class

JA

–5.5%

1/25/50

4,664,679

4,720,577‌

Series

5490

Class

LC

–5.5%

8/25/50

5,000,000

4,994,909‌

Series

5407

Class

AB

–5.5%

11/25/50

4,004,887

4,054,721‌

Series

5301

Class

ED

–5%

4/25/53

7,023,854

6,969,659‌

a

Pass-Through

Securities

Pool#

J13949

–

3.5%

12/1/25

100,397

99,377‌

Pool#

E02804

–

3%

12/1/25

90,111

89,375‌

Pool#

J14649

–

3.5%

4/1/26

94,435

93,512‌

Pool#

E02948

–

3.5%

7/1/26

389,584

385,001‌

Pool#

J16663

–

3.5%

9/1/26

445,881

441,315‌

Pool#

E03033

–

3%

2/1/27

274,546

270,762‌

Pool#

ZS8692

–

2.5%

4/1/33

491,509

460,421‌

Pool#

G01818

–

5%

5/1/35

374,602

372,089‌

Pool#

SB8257

–

5.5%

9/1/38

5,419,598

5,458,256‌

Pool#

SB8278

–

5.5%

1/1/39

3,572,261

3,597,742‌

Pool#

SB8287

–

5%

3/1/39

6,081,680

6,054,931‌

Pool#

SB8293

–

5%

4/1/39

5,684,343

5,659,341‌

Series

5440

Class

NG

–5.5%

9/25/49

3,923,829

3,913,125‌

Series

5407

Class

DA

–5.5%

11/25/49

4,149,501

4,186,459‌

Series

5450

Class

KA

–4.5%

6/25/51

16,944,069

16,637,204‌

95,469,519‌

a

Federal

National

Mortgage

Association

Collateralized

Mortgage

Obligations

Series

2024-87

Class

VK

–5%

6/25/35

5,965,241

5,908,575‌

Series

2024-20

Class

HD

–5.5%

3/25/46

4,173,334

4,174,781‌

Series

2024-21

Class

DA

–5.5%

12/25/46

5,791,679

5,849,597‌

Series

2024-20

Class

CA

–5.5%

1/25/47

2,566,872

2,590,086‌

Series

2024-41

Class

GA

–5.5%

2/25/48

4,928,621

4,916,165‌

Series

2024-9

Class

CE

–5%

10/25/48

3,223,436

3,213,980‌

Series

2024-20

Class

EA

–5.5%

8/25/49

3,507,525

3,536,647‌

Series

2024-65

Class

BA

–5%

8/25/49

15,433,278

15,231,210‌

Series

2024-61

Class

CA

–5%

11/25/49

12,232,361

12,121,989‌

a

Pass-Through

Securities

Pool#

AD7073

–

4%

6/1/25

9,414

9,373‌

Pool#

310139

–

3.5%

11/1/25

129,857

128,986‌

Pool#

AB1769

–

3%

11/1/25

58,555

58,042‌

Pool#

AH3429

–

3.5%

1/1/26

308,367

305,717‌

Pool#

AB2251

–

3%

2/1/26

93,112

92,189‌

Pool#

AB3902

–

3%

11/1/26

118,681

117,011‌

Pool#

AB4482

–

3%

2/1/27

701,774

690,948‌

Pool#

AL1366

–

2.5%

2/1/27

259,198

254,262‌

Pool#

AB6291

–

3%

9/1/27

168,344

165,211‌

Pool#

MA3189

–

2.5%

11/1/27

272,568

265,508‌

Pool#

MA3791

–

2.5%

9/1/29

797,525

764,661‌

Pool#

BM5708

–

3%

12/1/29

487,029

476,981‌

Pool#

MA0587

–

4%

12/1/30

846,788

831,359‌

Pool#

BA4767

–

2.5%

1/1/31

441,210

418,358‌

Pool#

AS7701

–

2.5%

8/1/31

1,474,427

1,394,963‌

Pool#

555531

–

5.5%

6/1/33

742,010

748,687‌

Pool#

MA3540

–

3.5%

12/1/33

524,073

505,314‌

25

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Pool#

725232

–

5%

3/1/34

69,149

68,838‌

Pool#

995112

–

5.5%

7/1/36

353,543

356,971‌

Pool#

MA5311

–

5%

3/1/39

4,868,481

4,847,068‌

70,043,477‌

a

Government

National

Mortgage

Association

Pass-Through

Securities

Pool#

5255

–

3%

12/20/26

514,548

507,787‌

a

Non-Government

Agency

Collateralized

Mortgage

Obligations

AD

Mortgage

Trust

(ADMT)

Series

2024-NQM3

Class

A1

–6.45%

7/25/69

(b)

(c)

3,754,454

3,798,017‌

Bunker

Hill

Loan

Depositary

Trust

(BHLD)

Series

2019-3A

Class

A1

–2.72%

11/25/59

(b)

(c)

270,969

267,440‌

Chase

Home

Lending

Mortgage

Trust

(CHASE)

Series

2024-1

Class

A4A

–6%

1/25/55

(b)

(c)

3,885,569

3,908,095‌

Series

2024-2

Class

A4A

–6%

2/25/55

(b)

(c)

4,306,699

4,322,152‌

Series

2024-4

Class

A4

–6%

3/25/55

(b)

(c)

3,456,478

3,473,484‌

Series

2024-9

Class

A6

–5.5%

9/25/55

(b)

(c)

2,318,758

2,310,818‌

Citigroup

Mortgage

Loan

Trust

(CMLTI)

Series

2014-A

Class

A

–4%

1/25/35

(b)

(c)

271,528

260,653‌

Flagstar

Mortgage

Trust

(FSMT)

Series

2017-1

Class

2A2

–3%

3/25/47

(b)

(c)

318,051

291,785‌

Series

2021-7

Class

B

–2.5%

8/25/51

(b)

(c)

4,599,472

4,024,989‌

Series

2021-10IN

Class

A6

–2.5%

10/25/51

(b)

(c)

4,108,220

3,600,228‌

GS

Mortgage-Backed

Securities

Trust

(GSMBS)

Series

2021-PJ9

Class

A8

–2.5%

2/26/52

(b)

(c)

2,892,724

2,526,833‌

Series

2022-PJ1

Class

AB

–2.5%

5/28/52

(b)

(c)

3,541,411

3,069,325‌

Series

2022-PJ2

Class

A24

–3%

6/25/52

(b)

(c)

2,243,595

1,999,136‌

Series

2024-PJ5

Class

A15

–6%

9/25/54

(b)

(c)

3,954,223

3,976,139‌

Series

2024-PJ8

Class

A8

–5.5%

2/25/55

(b)

(c)

6,462,662

6,441,772‌

Series

2020-NQM1

Class

A1

–1.38%

9/27/60

(b)

(c)

283,875

265,840‌

JPMorgan

Mortgage

Trust

(JPMMT)

Series

2014-2

Class

2A2

–3.5%

6/25/29

(b)

(c)

212,862

209,722‌

Series

2014-5

Class

B

–2.7%

10/25/29

(b)

(c)

751,821

731,155‌

Series

2016-3

Class

A

–2.96%

10/25/46

(b)

(c)

771,154

719,904‌

Series

2017-3

Class

A

–2.5%

8/25/47

(b)

(c)

1,828,468

1,582,099‌

Series

2018-6

Class

2A2

–3%

12/25/48

(b)

(c)

211,593

199,214‌

Series

2020-7

Class

A

–3%

1/25/51

(b)

(c)

28,505

28,263‌

Series

2020-8

Class

A

–3%

3/25/51

(b)

(c)

115,279

112,634‌

Series

2021-4

Class

A4

–2.5%

8/25/51

(b)

(c)

1,826,628

1,614,427‌

Series

2021-6

Class

B

–2.5%

10/25/51

(b)

(c)

4,133,552

3,638,540‌

Series

2021-8

Class

B

–2.5%

12/25/51

(b)

(c)

1,355,017

1,190,317‌

Series

2022-2

Class

A4A

–2.5%

8/25/52

(b)

(c)

1,673,652

1,455,587‌

Series

2023-6

Class

A4A

–5.5%

12/26/53

(b)

(c)

2,376,637

2,367,009‌

Series

2024-2

Class

A6A

–6%

8/25/54

(b)

(c)

2,944,012

2,946,079‌

Series

2024-4

Class

A4A

–6%

10/25/54

(b)

(c)

3,008,921

3,025,821‌

Series

2024-10

Class

A6

–5.5%

3/25/55

(b)

(c)

3,830,857

3,813,773‌

Series

2024-11

Class

A6A

–5.5%

4/25/55

(b)

(c)

5,410,382

5,400,349‌

JPMorgan

Wealth

Management

(JPMWM)

Series

2020-ATR1

Class

A

–3%

2/25/50

(b)

(c)

44,088

43,924‌

Radian

Mortgage

Capital

Trust

(RMCT)

Series

2024-J2

Class

A8

–5.5%

3/25/55

(b)

(c)

3,946,569

3,922,441‌

Rate

Mortgage

Trust

(RATE)

Series

2021-J3

Class

A7

–2.5%

10/25/51

(b)

(c)

3,846,301

3,337,981‌

RCKT

Mortgage

Trust

(RCKT)

Series

2021-3

Class

A5

–2.5%

7/25/51

(b)

(c)

4,723,968

4,158,532‌

Sequoia

Mortgage

Trust

(SEMT)

Series

2019-CH2

Class

A

–4.5%

8/25/49

(b)

(c)

49,465

49,129‌

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Series

2020-3

Class

A

–3%

4/25/50

(b)

(c)

188,824

184,649‌

Series

2023-3

Class

A4

–6%

9/25/53

(b)

(c)

2,689,969

2,705,513‌

Series

2024-3

Class

A4

–6%

4/25/54

(b)

(c)

3,582,263

3,595,075‌

Series

2024-4

Class

A4

–6%

5/25/54

(b)

(c)

2,974,526

2,988,049‌

Series

2024-5

Class

A5

–6%

6/25/54

(b)

(c)

2,652,044

2,667,821‌

Series

2024-10

Class

A5

–5.5%

11/25/54

(b)

(c)

3,382,829

3,372,188‌

100,596,901‌

a

Total

Mortgage-Backed

Securities

(Cost

$271,607,525)

266,617,684‌

U.S.

Treasuries

-

23.7%

a

a

a

a

a

U.S.

Treasury

Notes

2.75%

2/28/25

2,000,000

1,995,045‌

0.25%

8/31/25

20,000,000

19,479,771‌

3.5%

9/15/25

7,000,000

6,963,221‌

4.25%

10/15/25

12,000,000

12,003,944‌

4%

2/15/26

12,000,000

11,970,254‌

4.63%

3/15/26

10,000,000

10,044,783‌

4.88%

4/30/26

20,000,000

20,158,457‌

4.5%

7/15/26

22,000,000

22,082,639‌

1.88%

7/31/26

15,000,000

14,464,575‌

4.63%

9/15/26

12,000,000

12,073,349‌

1.63%

10/31/26

17,000,000

16,226,154‌

2.25%

2/15/27

2,000,000

1,919,623‌

1.13%

2/28/27

10,000,000

9,362,573‌

4.13%

9/30/27

13,000,000

12,950,693‌

1.13%

2/29/28

16,000,000

14,516,912‌

1.25%

3/31/28

7,000,000

6,359,086‌

4.38%

8/31/28

13,000,000

13,012,363‌

4.63%

9/30/28

4,000,000

4,038,340‌

4%

1/31/29

8,000,000

7,892,290‌

4%

2/28/30

4,000,000

3,926,885‌

4.13%

8/31/30

8,000,000

7,878,560‌

4.63%

9/30/30

15,000,000

15,142,617‌

a

Total

U.S.

Treasuries

(Cost

$248,442,174)

244,462,134‌

Cash

Equivalents

-

4.3%

a

a

a

a

a

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(Cost

$44,306,809)

(d)

44,306,809

44,306,809‌

a

Total

Investments

in

Securities

-

99.5%

(Cost

$1,037,938,856)

1,028,381,429‌

Other

Assets

Less

Other

Liabilities

-  0.5%

4,818,155‌

Net

Assets

-

100%

1,033,199,584‌

Net

Asset

Value

Per

Share

-

Investor

Class

11.94

Net

Asset

Value

Per

Share

-

Institutional

Class

11.97

26

Short

Duration

Income

Fund

(Continued)

Schedule

of

Investments

December

31,

2024

(Unaudited)

#

This

security,

in

part

or

entirely,

represents

a

delayed-settlement

security.

(a)

Foreign

domiciled

entity.

(b)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

This

security

may

be

resold

in

transactions

that

are

exempt

from

registration,

normally

to

qualified

institutional

buyers.

(c)

The

interest

rate

resets

periodically

based

on

the

weighted

average

coupons

of

the

underlying

mortgage-related

or

asset-backed

obligations.

(d)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

(e)

Defaulted

bond.

27

Ultra

Short

Government

Fund

Schedule

of

Investments

December

31,

2024

(Unaudited)

Asset-Backed

Securities

-

0.1%

a

a

a

$

Principal

Amount

$

Value

a

a

a

a

a

Automobile

CFMT

LLC

(CFMT)

Series

2021-AL1

Class

B

–1.39%

9/22/31

(a)

56,073

55,056‌

LAD

Auto

Receivables

Trust

(LADAR)

Series

2022-1A

Class

A

–5.21%

6/15/27

(a)

49,042

49,125‌

United

Auto

Credit

Securitization

Trust

(UACST)

Series

2024-1

Class

A

–6.17%

8/10/26

(a)

68,747

68,875‌

a

173,056‌

a

Consumer

&

Specialty

Finance

Affirm

Asset

Securitization

Trust

(AFFRM)

Series

2023-X1

Class

A

–7.11%

11/15/28

(a)

15,288

15,326‌

a

Total

Asset-Backed

Securities

(Cost

$189,114)

188,382‌

U.S.

Treasuries

-

45.1%

a

a

a

a

a

U.S.

Treasury

Notes

4.13%

1/31/25

30,000,000

29,993,542‌

4.63%

2/28/25

17,000,000

17,005,470‌

3.88%

3/31/25

20,000,000

19,980,750‌

a

Total

U.S.

Treasuries

(Cost

$66,891,595)

66,979,762‌

Cash

Equivalents

-

54.1%

a

a

a

a

a

U.S.

Treasury

Bills,

3.85%

to

4.16%,

1/21/25

to

6/26/25

(b)

65,000,000

64,196,092‌

JPMorgan

U.S.

Government

Money

Market

Fund

-

Institutional

Class

4.36%

(c)

16,264,205

16,264,205‌

a

Total

Cash

Equivalents

(Cost

$80,436,377)

80,460,297‌

Total

Investments

in

Securities

-

99.3%

(Cost

$147,517,086)

147,628,441‌

Other

Assets

Less

Other

Liabilities

-  0.7%

971,558‌

Net

Assets

-

100%

148,599,999‌

Net

Asset

Value

Per

Share

-

Institutional

Class

9.99

(a)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

This

security

may

be

resold

in

transactions

that

are

exempt

from

registration,

normally

to

qualified

institutional

buyers.

(b)

Interest

rates

presented

represent

the

effective

yield

at

December

31,

2024.

(c)

Rate

presented

represents

the

7

day

average

yield

at

December

31,

2024.

28

NOTES

TO

SCHEDULES

OF

INVESTMENTS

December

31,

2024

(Unaudited)

(1)

Disclaimer

The

schedule

of

portfolio

holdings

are

unaudited

and

are

presented

for

informational

purposes

only.

Portfolio

composition

is

subject

to

change

at

any

time

and

references

to

specific

securities,

industries,

and

sectors

are

not

recommendations

to

purchase

or

sell

any

particular

security.

Current

and

future

portfolio

holdings

are

subject

to

risk.

(2)

Affiliated

Issuers

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

are

those

in

which

a

Fund's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

the

issuer.

A

summary

of

each

Fund's

holdings

in

the

securities

of

such

issuers

is

set

forth

below:

(3)

Illiquid

Restricted

Securities

A

restricted

security

is

a

security

which

has

been

purchased

through

a

private

offering

and

cannot

be

resold

to

the

general

public

without

prior

registration

under

the

Securities

Act

of

1933

(the

“1933

Act”)

or

pursuant

to

the

resale

limitations

provided

by

Rule

144A

under

the

1933

Act,

or

an

exemption

from

the

registration

requirements

of

the

1933

Act.

The

Adviser

preliminarily

identifies

illiquid

investments

based

on,

among

other

things,

the

trading

characteristics

and

market

depth

of

a

particular

investment.

Not

all

restricted

securities

are

considered

illiquid.

The

illiquid

restricted

securities

held

as

of

December

31,

2024,

are

as

follows

(in

U.S.

dollars):

(4)

Additional

Information

The

Funds’

annual

and

semi-annual

financial

statements

contain

further

information,

including

the

Funds’

significant

accounting

policies,

pricing

and

fair

valuation

information

and

risks.

These

financial

statements

are

available

on

the

Funds’

website

at

weitzinvestments.com.

Partners

Ill

Opportunity

Fund

Value

3/31/202

4

Purchases

at

Cost

Proceeds

from

Sales

Net

Realized

Gain(Loss)

Net

Change

in

Unrealized

Appreciation/Depreciation

Value

12/31

/202

4

Shares

as

of

12/31

/202

4

Dividend

Income

Capital

Gains

Distributions

CoreCard

Corp.

$

5,

690

,

7

50

$—

$—

$—

$

5,999,750

$

11,690,500

515,000

$

—

$—

Fund

Security

Acquisition

Date(a)

Acquisition

Cost

Principal

Amount

Value

Percentage

of

Net

Assets

(%)

Core

Plus

Income

New

Mountain

Guardian

IV

Income

Rated

Feeder

II,

Ltd.,

Series

2024-1A

Class

B

3/28/24

4,765,000

4,765,000

4,834,858

0.2

Core

Plus

Income

New

Mountain

Guardian

IV

Income

Rated

Feeder

II,

Ltd.,

Series

2024-1A

Class

C

3/28/24

3,825,000

3,825,000

3,883,554

0.1

Core

Plus

Income

New

Mountain

Guardian

IV

Income

Rated

Feeder

II,

Ltd.,

Series

2024-1A

Class

D

3/28/24

3,000,000

3,000,000

3,017,868

0.1

Short

Duration

Income

New

Mountain

Guardian

IV

Income

Rated

Feeder

II,

Ltd.,

Series

2024-1A

Class

A

3/28/24

5,000,000

5,000,000

5,037,219

0.5

(a)

Acquisition

date

represents

the

initial

purchase

date

of

the

security.