Pioneer Flexible Opportunities Fund | ||
Schedule of Investments | January 31, 2021 | ||
Ticker Symbols: Class A PMARX Class C PRRCX Class K FLEKX Class R MUARX Class Y PMYRX | ||
Schedule of Investments | 1/31/21 (Consolidated) (unaudited)
Shares | Value | ||||
UNAFFILIATED ISSUERS – 89.1% of Net Assets | |||||
COMMON STOCKS - 79.1% of Net Assets | |||||
Aerospace & Defense - 3.3% | |||||
10,641(a) | Airbus SE | $1,074,128 | |||
19,054 | Curtiss-Wright Corp. | 1,977,615 | |||
27,036 | Raytheon Technologies Corp. | 1,804,112 | |||
69,279 | Spirit AeroSystems Holdings, Inc. | 2,346,480 | |||
7,378(a) | Teledyne Technologies, Inc. | 2,634,020 | |||
24,848 | Thales SA | 2,236,292 | |||
Total Aerospace & Defense | $12,072,647 | ||||
Air Freight & Logistics - 0.3% | |||||
32,516 | ZTO Express Cayman, Inc. (A.D.R.) | $1,075,629 | |||
Total Air Freight & Logistics | $1,075,629 | ||||
Auto Components - 0.7% | |||||
3,107(a) | Hyundai Mobis Co., Ltd. | $ 882,248 | |||
618,000 | Xinyi Glass Holdings, Ltd. | 1,498,530 | |||
Total Auto Components | $2,380,778 | ||||
Automobiles - 1.3% | |||||
8,555 | Bayerische Motoren Werke AG | $ 726,659 | |||
828,000 | Geely Automobile Holdings, Ltd. | 3,027,627 | |||
20,700 | Honda Motor Co., Ltd. | 546,380 | |||
7,800 | Toyota Motor Corp. | 543,658 | |||
Total Automobiles | $4,844,324 | ||||
Banks - 4.2% | |||||
259,330 | Bank for Foreign Trade of Vietnam JSC | $1,046,366 | |||
37,365(a) | BAWAG Group AG (144A) | 1,634,711 | |||
190,500 | China Merchants Bank Co., Ltd., Class H | 1,463,173 | |||
157,502(a) | FinecoBank Banca Fineco S.p.A. | 2,460,275 | |||
20,038 | JPMorgan Chase & Co. | 2,578,289 | |||
49,789 | KB Financial Group, Inc. | 1,794,503 | |||
2,730,000 | Postal Savings Bank of China Co., Ltd., Class H (144A) | 1,950,704 | |||
169,691 | Sberbank of Russia PJSC (A.D.R.) | 2,326,464 | |||
Total Banks | $15,254,485 | ||||
Capital Markets - 3.3% | |||||
58,306 | AllianceBernstein Holding LP | $2,061,117 | |||
1,556 | BlackRock, Inc. | 1,091,161 | |||
63,159 | Lazard, Ltd. | 2,602,151 | |||
16,037 | Macquarie Group, Ltd. | 1,610,369 | |||
50,348 | Morgan Stanley | 3,375,833 | |||
86,541 | UBS Group AG | 1,251,154 | |||
Total Capital Markets | $11,991,785 | ||||
Chemicals - 1.2% | |||||
6,853 | Air Products & Chemicals, Inc. | $1,828,106 | |||
65,939 | Mosaic Co. | 1,711,777 | |||
2,574,000 | Sinopec Shanghai Petrochemical Co., Ltd., Class H | 571,026 | |||
1,260 | SK Materials Co., Ltd. | 345,726 | |||
Total Chemicals | $4,456,635 | ||||
Commercial Services & Supplies - 2.0% | |||||
590,500 | A-Living Smart City Services Co., Ltd., Class H (144A) | $2,578,087 | |||
15,959 | Republic Services, Inc. | 1,444,609 | |||
754,000(a) | S-Enjoy Service Group Co., Ltd. | 1,954,728 | |||
12,969 | Waste Management, Inc. | 1,443,709 | |||
Total Commercial Services & Supplies | $7,421,133 | ||||
Construction & Engineering - 0.1% | |||||
355,043 | IRB Infrastructure Developers, Ltd. | $ 524,344 | |||
Total Construction & Engineering | $ 524,344 | ||||
Construction Materials - 0.2% | |||||
35,897 | Buzzi Unicem S.p.A. | $ 885,413 | |||
Total Construction Materials | $ 885,413 | ||||
Consumer Discretionary - 0.4% | |||||
2,318,000 | China New Higher Education Group, Ltd. (144A) | $1,542,702 | |||
Total Consumer Discretionary | $1,542,702 | ||||
Diversified Consumer Services - 0.7% | |||||
728,000 | China Education Group Holdings, Ltd. | $1,530,517 | |||
1,280,000 | China Yuhua Education Corp., Ltd. (144A) | 1,122,633 | |||
Total Diversified Consumer Services | $2,653,150 | ||||
Diversified Financial Services - 0.2% | |||||
7,405 | Wendel SE | $ 855,288 | |||
Total Diversified Financial Services | $ 855,288 | ||||
Electric Utilities - 2.5% | |||||
55,983 | Endesa SA | $1,433,141 | |||
380,651 | Enel S.p.A. | 3,782,807 | |||
279,941 | Iberdrola SA | 3,798,856 | |||
Total Electric Utilities | $9,014,804 | ||||
Electrical Equipment - 0.4% | |||||
125,000 | Bizlink Holding, Inc. | $1,385,616 | |||
Total Electrical Equipment | $1,385,616 | ||||
Shares | Value | ||||
Electronic Equipment, Instruments & Components - 0.7% | |||||
1,400 | Keyence Corp. | $ 750,427 | |||
1,056 | Samsung SDI Co., Ltd. | 693,212 | |||
5,200 | TDK Corp. | 838,077 | |||
17,000 | Yageo Corp. | 348,363 | |||
Total Electronic Equipment, Instruments & Components | $2,630,079 | ||||
Equity Real Estate Investment Trusts (REITs) - 2.8% | |||||
161,400 | Ascendas Real Estate Investment Trust | $ 374,176 | |||
1,416,182 | Frasers Logistics & Commercial Trust | 1,534,983 | |||
1,318 | GLP J-Reit | 2,111,619 | |||
13,101 | Healthcare Trust of America, Inc. | 370,103 | |||
12,489 | Healthpeak Properties, Inc. | 370,299 | |||
884 | Industrial & Infrastructure Fund Investment Corp. | 1,588,474 | |||
689 | Kenedix Residential Next Investment Corp. | 1,197,946 | |||
37,655 | Ryman Hospitality Properties, Inc. | 2,441,927 | |||
Total Equity Real Estate Investment Trusts (REITs) | $9,989,527 | ||||
Food & Staples Retailing - 1.5% | |||||
8,451 | E-MART, Inc. | $1,239,532 | |||
21,000 | Seven & i Holdings Co., Ltd. | 794,204 | |||
14,068 | Walmart, Inc. | 1,976,413 | |||
41,341 | X5 Retail Group NV (G.D.R.) | 1,462,645 | |||
Total Food & Staples Retailing | $5,472,794 | ||||
Food Products - 2.0% | |||||
47,883 | Archer-Daniels-Midland Co. | $2,394,629 | |||
1,048,000 | China Feihe, Ltd.(144A) | 3,135,944 | |||
46,508 | Kraft Heinz Co. | 1,558,483 | |||
Total Food Products | $7,089,056 | ||||
Gas Utilities - 1.3% | |||||
211,463 | Italgas S.p.A. | $1,270,473 | |||
686,922 | Snam S.p.A. | 3,606,990 | |||
Total Gas Utilities | $4,877,463 | ||||
Health Care - 0.5% | |||||
7,705(a) | Laboratory Corp. of America Holdings | $1,763,752 | |||
Total Health Care | $1,763,752 | ||||
Health Care Equipment & Supplies - 2.7% | |||||
12,247 | Abbott Laboratories | $1,513,607 | |||
15,075 | Danaher Corp. | 3,585,438 | |||
5,347(a) | IDEXX Laboratories, Inc. | 2,559,502 | |||
8,006 | Medtronic Plc | 891,308 | |||
4,801 | Stryker Corp. | 1,061,069 | |||
Total Health Care Equipment & Supplies | $9,610,924 | ||||
Health Care Providers & Services - 1.0% | |||||
5,063 | Humana, Inc. | $1,939,686 | |||
4,915 | UnitedHealth Group, Inc. | 1,639,546 | |||
Total Health Care Providers & Services | $3,579,232 | ||||
Hotels, Restaurants & Leisure - 1.5% | |||||
68,271 | Cedar Fair LP | $2,737,667 | |||
76,565 | Six Flags Entertainment Corp. | 2,618,523 | |||
Total Hotels, Restaurants & Leisure | $5,356,190 | ||||
Household Durables - 0.7% | |||||
71,350 | Persimmon Plc | $2,494,591 | |||
Total Household Durables | $2,494,591 | ||||
Independent Power & Renewable Electricity Producers - 0.9% | |||||
120,281 | EDP Renovaveis SA | $3,290,742 | |||
Total Independent Power & Renewable Electricity Producers | $3,290,742 | ||||
Industrial Conglomerates - 1.3% | |||||
12,722 | Honeywell International, Inc. | $2,485,497 | |||
14,151 | Siemens AG | 2,196,564 | |||
Total Industrial Conglomerates | $4,682,061 | ||||
Industrials - 0.6% | |||||
6,885 | Teleperformance | $2,257,042 | |||
Total Industrials | $2,257,042 | ||||
Information Technology - 2.2% | |||||
6,654 | Lam Research Corp. | $3,220,203 | |||
33,378 | Samsung Electronics Co., Ltd. | 2,447,822 | |||
20,567 | SK Hynix, Inc. | 2,253,268 | |||
Total Information Technology | $7,921,293 | ||||
Insurance - 4.2% | |||||
12,827 | Allianz SE | $2,902,691 | |||
69,362 | ASR Nederland NV | 2,686,178 | |||
57,966(a) | HDFC Life Insurance Co., Ltd. (144A) | 540,851 | |||
93,679 | NN Group NV | 3,898,402 | |||
322,355 | Poste Italiane S.p.A. (144A) | 3,158,501 | |||
3,347 | Swiss Life Holding AG | 1,529,273 | |||
1,295 | Zurich Insurance Group AG | 517,971 | |||
Total Insurance | $15,233,867 | ||||
Shares | Value | ||||
Interactive Media & Services - 0.6% | |||||
7,172 | NAVER Corp. | $2,200,088 | |||
Total Interactive Media & Services | $2,200,088 | ||||
Internet & Direct Marketing Retail - 1.1% | |||||
7,532(a) | Alibaba Group Holding, Ltd. (A.D.R.) | $1,911,848 | |||
8,249(a) | Dada Nexus, Ltd. (A.D.R.) | 341,014 | |||
6,044(a) | JD.com, Inc. (A.D.R.) | 536,042 | |||
29,200(a) | Meituan Dianping, Class B | 1,340,009 | |||
Total Internet & Direct Marketing Retail | $4,128,913 | ||||
IT Services - 2.3% | |||||
29,564 | Booz Allen Hamilton Holding Corp. | $2,517,966 | |||
23,193 | Leidos Holdings, Inc. | 2,459,849 | |||
34,521 | Science Applications International Corp. | 3,315,052 | |||
Total IT Services | $8,292,867 | ||||
Leisure Products - 0.7% | |||||
92,194 | Callaway Golf Co. | $2,571,291 | |||
Total Leisure Products | $2,571,291 | ||||
Life Sciences Tools & Services - 3.2% | |||||
33,872 | Agilent Technologies, Inc. | $4,070,398 | |||
9,582(a) | Charles River Laboratories International, Inc. | 2,482,217 | |||
9,739 | Thermo Fisher Scientific, Inc. | 4,963,969 | |||
Total Life Sciences Tools & Services | $11,516,584 | ||||
Machinery - 2.0% | |||||
69,000 | Airtac International Group | $2,463,318 | |||
26,105(a) | Doosan Bobcat, Inc. | 708,579 | |||
8,500 | FANUC Corp. | 2,220,867 | |||
129,000 | Hiwin Technologies Corp. | 1,823,712 | |||
Total Machinery | $7,216,476 | ||||
Materials - 0.5% | |||||
2,489 | Sherwin-Williams Co. | $1,721,890 | |||
Total Materials | $1,721,890 | ||||
Media - 0.7% | |||||
108,814 | Echo Marketing, Inc. | $2,695,692 | |||
Total Media | $2,695,692 | ||||
Metals & Mining - 1.9% | |||||
24,762 | Anglo American Platinum, Ltd. | $2,480,867 | |||
50,389 | MMC Norilsk Nickel PJSC (A.D.R.) | 1,628,068 | |||
141,692 | Teck Resources, Ltd., Class B | 2,590,130 | |||
Total Metals & Mining | $6,699,065 | ||||
Mortgage Real Estate Investment Trusts (REITs) - 8.4% | |||||
320,638 | AGNC Investment Corp. | $5,001,953 | |||
528,448 | Annaly Capital Management, Inc. | 4,290,998 | |||
239,887 | New Residential Investment Corp. | 2,252,539 | |||
313,871 | PennyMac Mortgage Investment Trust | 5,414,275 | |||
554,348 | Redwood Trust, Inc. | 4,756,306 | |||
230,990 | Starwood Property Trust, Inc. | 4,333,372 | |||
731,607 | Two Harbors Investment Corp. | 4,440,854 | |||
Total Mortgage Real Estate Investment Trusts (REITs) | $30,490,297 | ||||
Multi-Utilities - 0.3% | |||||
25,605 | RWE AG | $1,101,574 | |||
Total Multi-Utilities | $1,101,574 | ||||
Oil, Gas & Consumable Fuels - 0.9% | |||||
32,878 | LUKOIL PJSC (A.D.R.) | $2,348,475 | |||
20,683 | TOTAL SE | 875,643 | |||
Total Oil, Gas & Consumable Fuels | $3,224,118 | ||||
Pharmaceuticals - 1.1% | |||||
92,400 | Astellas Pharma, Inc. | $1,493,168 | |||
2,214 | Johnson & Johnson | 361,170 | |||
492(a) | Samsung Biologics Co., Ltd. (144A) | 348,935 | |||
11,219 | Zoetis, Inc. | 1,730,531 | |||
Total Pharmaceuticals | $3,933,804 | ||||
Real Estate Management & Development - 1.6% | |||||
305,800 | Ascendas India Trust | $ 347,565 | |||
318(a) | KWG Living Group Holdings, Ltd. | 335 | |||
98,000 | Longfor Group Holdings, Ltd. (144A) | 554,261 | |||
17,600 | Nomura Real Estate Holdings, Inc. | 392,213 | |||
96,326 | Prestige Estates Projects, Ltd. | 354,325 | |||
27,500 | Sun Hung Kai Properties, Ltd. | 375,974 | |||
180,400 | UOL Group, Ltd. | 993,962 | |||
40,838 | Vonovia SE | 2,732,005 | |||
Total Real Estate Management & Development | $5,750,640 | ||||
Road & Rail - 0.6% | |||||
24,631 | CSX Corp. | $2,112,231 | |||
Total Road & Rail | $2,112,231 | ||||
Semiconductors & Semiconductor Equipment - 1.8% | |||||
22,800 | Advantest Corp. | $1,804,669 | |||
46,000 | MediaTek, Inc. | 1,436,936 | |||
34,100(a) | Renesas Electronics Corp. | 390,700 | |||
Shares | Value | ||||
Semiconductors & Semiconductor Equipment - (continued) | |||||
109,000 | Taiwan Semiconductor Manufacturing Co., Ltd. | $2,299,775 | |||
1,800 | Tokyo Electron, Ltd. | 684,184 | |||
Total Semiconductors & Semiconductor Equipment | $6,616,264 | ||||
Software - 1.9% | |||||
16,213 | Microsoft Corp. | $3,760,767 | |||
17,911 | Oracle Corp. | 1,082,362 | |||
14,640(a) | Zendesk, Inc. | 2,111,674 | |||
Total Software | $6,954,803 | ||||
Specialty Retail - 3.0% | |||||
832,000 | China Meidong Auto Holdings, Ltd. | $2,800,805 | |||
1,103,500 | China Yongda Automobiles Services Holdings, Ltd. | 1,548,532 | |||
4,824 | Home Depot, Inc. | 1,306,436 | |||
16,949 | Lowe's Cos., Inc. | 2,827,941 | |||
378,000 | Zhongsheng Group Holdings, Ltd. | 2,220,747 | |||
Total Specialty Retail | $10,704,461 | ||||
Textiles, Apparel & Luxury Goods - 0.2% | |||||
24,397 | Wolverine World Wide, Inc. | $ 698,730 | |||
Total Textiles, Apparel & Luxury Goods | $ 698,730 | ||||
Thrifts & Mortgage Finance - 0.8% | |||||
46,757 | PennyMac Financial Services, Inc. | $2,711,906 | |||
Total Thrifts & Mortgage Finance | $2,711,906 | ||||
Trading Companies & Distributors - 0.1% | |||||
14,300 | Mitsubishi Corp. | $ 361,477 | |||
Total Trading Companies & Distributors | $ 361,477 | ||||
Utilities - 0.3% | |||||
668,165 | A2A S.p.A. | $1,086,273 | |||
Total Utilities | $1,086,273 | ||||
Wireless Telecommunication Services - 0.4% | |||||
194,000 | Bharti Airtel, Ltd. | $1,470,485 | |||
Total Wireless Telecommunication Services | $1,470,485 | ||||
TOTAL COMMON STOCKS | |||||
(Cost $245,989,340) | $286,867,275 | ||||
PREFERRED STOCK - 0.0%† of Net Assets | |||||
Equity Real Estate Investment Trusts (REITs) - 0.0%† | |||||
204^(a) | Wheeler Real Estate Investment Trust, Inc. | $ 86,518 | |||
Total Equity Real Estate Investment Trusts (REITs) | $ 86,518 | ||||
TOTAL PREFERRED STOCK | |||||
(Cost $195,245) | $ 86,518 | ||||
Principal Amount USD ($) | |||||
CORPORATE BONDS - 2.9% of Net Assets | |||||
Banks - 0.5% | |||||
1,588,000(b)(c) | Intesa Sanpaolo S.p.A., 7.7% (5 Year USD Swap Rate + 546 bps) (144A) | $1,782,530 | |||
Total Banks | $1,782,530 | ||||
Mining - 0.9% | |||||
1,505,000 | Gold Fields Orogen Holdings BVI, Ltd., 6.125%, 5/15/29 (144A) | $1,824,813 | |||
1,039,000 | Teck Resources, Ltd., 6.125%, 10/1/35 | 1,320,509 | |||
Total Mining | $3,145,322 | ||||
Telecommunications - 1.5% | |||||
4,400,000 | Lumen Technologies, Inc., 7.65%, 3/15/42 | $5,448,080 | |||
Total Telecommunications | $5,448,080 | ||||
TOTAL CORPORATE BONDS | |||||
(Cost $8,232,985) | $10,375,932 | ||||
FOREIGN GOVERNMENT BONDS - 0.7% of Net Assets | |||||
Russia - 0.7% | |||||
RUB | 93,153,000 | Russian Federal Bond - OFZ, 7.7%, 3/16/39 | $1,361,813 | ||
RUB | 92,617,000 | Russian Federal Bond - OFZ, 8.15%, 2/3/27 | 1,370,545 | ||
Total Russia | $2,732,358 | ||||
TOTAL FOREIGN GOVERNMENT BONDS | |||||
(Cost $2,711,922) | $2,732,358 | ||||
U.S. GOVERNMENT AND AGENCY OBLIGATION - 1.4% of Net Assets | |||||
5,000,000(d) | U.S. Treasury Bills, 2/4/21 | $4,999,981 | |||
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATION | |||||
(Cost $4,999,967) | $4,999,981 | ||||
Shares | |||||
INVESTMENT COMPANIES - 4.6% of Net Assets | |||||
18,731(a)(e) | Aberdeen Standard Physical Palladium Shares ETF | $3,902,978 | |||
SGD | 154,560 | CSOP FTSE Chinese Government Bond Index ETF | 1,625,233 | ||
147,722 | ETFMG Prime Cyber Security ETF | 8,838,207 | |||
125,057 | VanEck Vectors Vietnam ETF | 2,115,965 | |||
TOTAL INVESTMENT COMPANIES | |||||
(Cost $13,176,593) | $16,482,383 | ||||
Shares | Value | ||||
RIGHT/WARRANT - 0.0%† of Net Assets | |||||
Energy - 0.0%† | |||||
EUR | 279,941(a) | Iberdrola SA, 01/26/21 | $ 58,010 | ||
Total Energy | $ 58,010 | ||||
TOTAL RIGHT/WARRANT | |||||
(Cost $57,221) | $ 58,010 |
Number of Contracts | Description | Counterparty | Notional | Strike Price | Expiration Date | |||||
EXCHANGE-TRADED CALL OPTION PURCHASED - 0.2% | ||||||||||
5,000 | Helmerich Payne | Citibank NA | USD | 1,196,621 | USD | 30 | 6/18/21 | $ 887,500 | ||
TOTAL EXCHANGE-TRADED CALL OPTION PURCHASED | ||||||||||
(Premiums paid $1,196,621) | $ 887,500 | |||||||||
OVER THE COUNTER (OTC) CALL OPTION PURCHASED - 0.1% | ||||||||||
831,545 | MSCI China ETF | Citibank NA | HKD | 545,937 | HKD | 124 | 4/29/21 | $ 207,835 | ||
TOTAL OVER THE COUNTER (OTC) CALL OPTION PURCHASED | ||||||||||
(Premiums paid $545,937) | $ 207,835 | |||||||||
OVER THE COUNTER (OTC) PUT OPTION PURCHASED - 0.1% | ||||||||||
673,924 | iShares iBoxx | Citibank NA | USD | 649,999 | USD | 85 | 3/19/21 | $ 523,484 | ||
TOTAL OVER THE COUNTER (OTC) PUT OPTION PURCHASED | ||||||||||
(Premiums paid $649,999) | $ 523,484 | |||||||||
TOTAL OPTIONS PURCHASED | ||||||||||
(Premiums paid $2,392,557) | $1,618,819 | |||||||||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS – 89.1% | ||||||||||
(Cost $277,755,830) | $323,221,276 | |||||||||
OTHER ASSETS AND LIABILITIES - 10.9% | $39,770,950 | |||||||||
NET ASSETS - 100.0% | $362,992,226 |
bps LIBOR | Basis Points. London Interbank Offered Rate. |
REIT | Real Estate Investment Trust. |
(144A) | Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At January 31, 2021, the value of these securities amounted to $20,174,672, or 5.6% of net assets. |
(A.D.R.) | American Depositary Receipts. |
(G.D.R.) | Global Depositary Receipts. |
† | Amount rounds to less than 0.1%. |
^ | Security is valued using fair value methods (other than supplied by independent pricing services). |
(a) | Non-income producing security. |
(b) | The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at January 31, 2021. |
(c) | Security is perpetual in nature and has no stated maturity date. |
(d) | Security issued with a zero coupon. Income is recognized through accretion of discount. |
(e) | All or a portion of this security is held by Flexible Opportunities Commodity Fund Ltd. |
FUTURES CONTRACTS |
CURRENCY FUTURES CONTRACT |
Number of Contracts Short | Description | Expiration Date | Notional Amount | Market Value | Unrealized Appreciation | |||||||||||
171 | Euro FX | 3/15/21 | $ | 26,004,481 | $ | 25,955,662 | $ | 48,819 | ||||||||
INDEX FUTURES CONTRACT | ||||||||||||||||
Number of Contracts Short | Description | Expiration Date | Notional Amount | Market Value | Unrealized Appreciation | |||||||||||
221 | Euro Stoxx 50 | 3/19/21 | $ | 9,603,990 | $ | 9,325,501 | $ | 278,489 | ||||||||
TOTAL FUTURES CONTRACTS | $ | (35,608,471 | ) | $ | (35,281,163 | ) | $ | 327,308 |
SWAP CONTRACTS | ||||||||
OVER THE COUNTER (OTC) TOTAL RETURN SWAP CONTRACTS - SELL PROTECTION | ||||||||
Notional Amount(1) | Counterprty | Obligation Reference /Index | Pay/ Receive(2) | Coupon | Expiration Date | Net Unrealized Appreciation (Depreciation) | Market Value | |
5,722,351 | Citibank NA | Citibank Total Return Index* | Pay | 3M LIBOR + 3bps | 8/10/21 | $ (328,829) | $ (328,829) | |
8,340,654 | Goldman Sachs International | Goldman Sachs Total Cash Return Index* | Pay | 3M LIBOR + 39bps | 9/15/21 | 201,015 | 201,015 | |
3,454,136 | Goldman Sachs International | Goldman Sachs Total Cash Return Index* | Pay | 3M LIBOR + 39bps | 11/24/21 | 175,281 | 175,281 | |
TOTAL SWAPS CONTRACTS | $ 47,467 | $ 47,467 | ||||||
(1) | The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event. | |||||||
(2) | Pays quarterly. |
Principal amounts are denominated in U.S. dollars ("USD") unless otherwise noted. | ||
EUR | - | Euro |
HKD | - | Hong Kong Dollar |
RUB | - | Russian Ruble |
SGD | - | Singapore Dollar |
* The following table shows the individual positions and related values of the securities underlying each total return swap with Citibank, as of January 31, 2021.
Index Description | Shares | Value | % of basket |
Hilton Worldwide Holdings Inc. | 779 | $ (81,011) | 24.64% |
Marriott International, Inc. | 665 | (77,334) | 23.51% |
Ryman Hospitality Properties Inc. | 1,331 | (86,312) | 26.25% |
Wyndham Destinations Inc. | 1,903 | (84,172) | 25.60% |
Totals | $ (328,829) | 100.00% |
* The following table shows the individual positions and related values of the securities underlying each total return swap with Goldman Sachs International, as of January 31, 2021.
Index Description | Shares | Value | % of basket |
AbbVie Inc | 84 | $ 8,598 | 2.29% |
AES Corp/The | 489 | 11,931 | 3.17% |
American Airlines Group Inc | 130 | 2,229 | 0.59% |
American International Group Inc | 91 | 3,401 | 0.90% |
Ameriprise Financial Inc | 43 | 8,562 | 2.28% |
AmerisourceBergen Corp | 67 | 7,026 | 1.87% |
Apple Inc | 154 | 20,330 | 5.40% |
Applied Materials Inc | 136 | 13,171 | 3.50% |
Archer-Daniels-Midland Co | 121 | 6,048 | 1.61% |
Assurant Inc | 57 | 7,788 | 2.07% |
Boeing Co/The | 30 | 5,813 | 1.54% |
Capital One Financial Corp | 69 | 7,176 | 1.91% |
Capri Holdings Ltd | 148 | 6,174 | 1.64% |
Cigna Corp | 22 | 4,765 | 1.27% |
Corning Inc | 192 | 6,879 | 1.83% |
DENTSPLY SIRONA Inc | 87 | 4,680 | 1.24% |
Discover Financial Services | 88 | 7,384 | 1.96% |
eBay Inc | 166 | 9,358 | 2.49% |
Equity Residential | 86 | 5,281 | 1.40% |
F5 Networks Inc | 43 | 8,395 | 2.23% |
General Electric Co | 191 | 2,038 | 0.54% |
Gilead Sciences Inc | 81 | 5,294 | 1.41% |
HCA Healthcare Inc | 66 | 10,675 | 2.84% |
HP Inc | 294 | 7,155 | 1.90% |
Lumen Technologies Inc | 216 | 2,668 | 0.71% |
LyondellBasell Industries NV | 65 | 5,598 | 1.49% |
McDonald's Corp | 40 | 8,218 | 2.18% |
Monster Beverage Corp | 122 | 10,586 | 2.81% |
Motorola Solutions Inc | 64 | 10,783 | 2.87% |
Navient Corp | 364 | 4,097 | 1.09% |
NetApp Inc | 139 | 9,224 | 2.45% |
NRG Energy Inc | 327 | 13,556 | 3.60% |
ONEOK Inc | 105 | 4,189 | 1.11% |
Procter & Gamble Co/The | 63 | 8,123 | 2.16% |
PulteGroup Inc | 244 | 10,616 | 2.82% |
Qorvo Inc | 81 | 13,897 | 3.69% |
Quest Diagnostics Inc | 52 | 6,772 | 1.80% |
Seagate Technology PLC | 131 | 8,683 | 2.31% |
Sysco Corp | 105 | 7,483 | 1.99% |
Target Corp | 99 | 17,946 | 4.77% |
TransDigm Group Inc | 22 | 12,405 | 3.30% |
Tyson Foods Inc | 86 | 5,537 | 1.47% |
United Airlines Holdings Inc | 79 | 3,151 | 0.84% |
Valero Energy Corp | 86 | 4,832 | 1.28% |
ViacomCBS Inc | 83 | 4,031 | 1.07% |
Western Union Co/The | 279 | 6,204 | 1.65% |
Westinghouse Air Brake Technologies Corp | 1 | 76 | 0.02% |
Weyerhaeuser Co | 163 | 5,095 | 1.35% |
Williams Cos Inc/The | 181 | 3,835 | 1.02% |
Yum! Brands Inc | 84 | 8,540 | 2.27% |
Totals | $ 376,296 | 100.00% |
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels below. | |||
Level 1 - unadjusted quoted prices in active markets for identical securities. | |||
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). | |||
Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments). | |||
The following is a summary of the inputs used as of January 31, 2021, in valuing the Fund's investments: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | ||||||||||||||||
Food & Staples Retailing | $ | 4,010,149 | $ | 1,462,645 | $ | – | $ | 5,472,794 | ||||||||
All Other Common Stocks | 281,394,481 | – | – | 281,394,481 | ||||||||||||
Preferred Stock | – | – | 86,518 | 86,518 | ||||||||||||
Corporate Bonds | – | 10,375,932 | – | 10,375,932 | ||||||||||||
Foreign Government Bonds | – | 2,732,358 | – | 2,732,358 | ||||||||||||
U.S. Government and Agency Obligation | – | 4,999,981 | – | 4,999,981 | ||||||||||||
Investment Companies | 16,482,383 | – | – | 16,482,383 | ||||||||||||
Right/Warrant | – | 58,010 | – | 58,010 | ||||||||||||
Exchange-Traded Call Option Purchased | 887,500 | – | – | 887,500 | ||||||||||||
Over The Counter (OTC) Call Option Purchased | – | 207,835 | – | 207,835 | ||||||||||||
Over The Counter (OTC) Put Option Purchased | – | 523,484 | – | 523,484 | ||||||||||||
Total Investments in Securities | $ | 302,774,513 | $ | 20,360,245 | $ | 86,518 | $ | 323,221,276 | ||||||||
Other Financial Instruments | ||||||||||||||||
Net unrealized appreciation on futures contracts | $ | 327,308 | $ | – | $ | – | $ | 327,308 | ||||||||
Swap contracts, at value | – | 47,467 | – | 47,467 | ||||||||||||
Total Other Financial Instruments | $ | 327,308 | $ | 47,467 | $ | – | $ | 374,775 |
The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):
Preferred Stock | ||||
Balance as of 10/31/20 | $ | 80,255 | ||
Realized gain (loss) | – | |||
Changed in unrealized appreciation (depreciation) | 6,263 | |||
Accrued discounts/premiums | – | |||
Purchases | – | |||
Sales | – | |||
Transfers in to Level 3* | -- | |||
Transfers out of Level 3* | -- | |||
Balance as of 1/31/21 | $ | 86,518 |
* | Transfers are calculated on the beginning of period values. During the three months ended January 31, 2021, there were no transfers in and out of Level 3. |
Net change in unrealized appreciation (depreciation) of Level 3 investments still held and considered Level 3 at January 31, 2021: $6,263.