Frost Family of Funds NPORT-P Frost Growth Equity Fund (Oct 2023 report)

Description	Shares		Value
COMMON STOCK§ — 100.0%
Communication Services — 12.0%
Alphabet, Cl A *		79,880	$	9,911,511
Alphabet, Cl C *		74,800		9,372,440
Meta Platforms, Cl A *		24,890		7,498,610
Netflix *		5,200		2,140,788
Spotify Technology *		9,900		1,631,124
				30,554,473
Consumer Discretionary — 17.3%
Airbnb, Cl A *		7,900		934,491
Amazon.com *		140,070		18,641,916
Booking Holdings *		950		2,650,082
Chipotle Mexican Grill, Cl A *		2,000		3,884,400
Floor & Decor Holdings, Cl A *		7,500		618,000
Home Depot		11,990		3,413,433
Lululemon Athletica *		4,000		1,573,920
NIKE, Cl B		14,100		1,449,057
O’Reilly Automotive *		3,920		3,647,325
Starbucks		20,750		1,913,980
Tesla *		16,645		3,342,982
TJX		20,700		1,823,049
				43,892,635
Consumer Staples — 2.6%
Coca-Cola		36,950		2,087,306
Costco Wholesale		6,082		3,359,940
Monster Beverage *		22,000		1,124,200
				6,571,446
Energy — 0.9%
Hess		15,000		2,166,000
Financials — 8.6%
Cboe Global Markets		13,700		2,245,293
Mastercard, Cl A		19,860		7,474,311
Moody’s		11,405		3,512,740
Visa, Cl A		37,200		8,745,720
				21,978,064
Health Care — 14.5%
Abbott Laboratories		11,000		1,040,050
AbbVie		15,000		2,117,700
Boston Scientific *		53,300		2,728,427
Charles River Laboratories International *		5,050		850,218
Danaher		14,700		2,822,694
Edwards Lifesciences *		19,400		1,236,168
Eli Lilly		17,400		9,638,382
Humana		6,800		3,561,092
Intuitive Surgical *		8,100		2,123,982
Merck		10,600		1,088,620
Seagen *		11,750		2,500,518
UnitedHealth Group		10,700		5,730,492
Zoetis, Cl A		9,435		1,481,295
				36,919,638
Industrials — 3.8%
Canadian Pacific Kansas City		45,500		3,229,135
Fortive		22,400		1,462,272
Uber Technologies *		62,100		2,687,688
Union Pacific		11,200		2,325,232
				9,704,327
Information Technology — 39.0%
Accenture, Cl A		4,500		1,336,905
Adobe *		9,400		5,001,364
Advanced Micro Devices *		30,850		3,038,725

Description	Shares		Value
Apple		144,900	$	24,744,573
Globant *		8,900		1,515,581
Intuit		3,700		1,831,315
Lam Research		400		235,288
Marvell Technology		47,635		2,249,325
Microsoft		107,515		36,351,897
NVIDIA		30,400		12,397,119
QUALCOMM		7,900		861,021
ServiceNow *		8,800		5,120,279
Snowflake, Cl A *		6,050		878,037
Workday, Cl A *		16,300		3,450,873
				99,012,302
Materials — 0.9%
Sherwin-Williams		10,100		2,405,921
Real Estate — 0.4%
American Tower ‡		5,300		944,407
Total Common Stock (Cost $111,242,270)				254,149,213
Total Investments — 100.0% (Cost $111,242,270)			$	254,149,213

Percentages are based on Net Assets of $254,273,476.

* Non-income producing security.

§ Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.

‡ Real Estate Investment Trust

See “Glossary” for abbreviations.

FIA-QH-001-3200

1

Description	Face Amount		Value
U.S. TREASURY OBLIGATIONS — 31.5%
U.S. Treasury Bills
5.363%, 11/14/23 (A)	$	2,000,000	$	1,996,180
5.324%, 11/07/23 (A)		1,000,000		999,120
U.S. Treasury Bonds
4.375%, 08/15/43		100,000,000		89,187,499
4.125%, 08/15/53		5,000,000		4,277,344
4.000%, 11/15/42		80,000,000		67,818,750
4.000%, 11/15/52		55,000,000		45,963,672
3.875%, 05/15/43		85,000,000		70,589,844
3.625%, 02/15/53		25,000,000		19,480,469
3.250%, 05/15/42		125,000,000		95,190,430
0.000%, 08/15/43 (B)		20,000,000		7,083,537
U.S. Treasury Notes
4.625%, 02/28/25		65,000,000		64,438,867
4.500%, 11/30/24		50,000,000		49,505,860
4.375%, 10/31/24		65,000,000		64,319,531
4.250%, 12/31/24		94,000,000		92,799,297
4.125%, 09/30/27		130,000,000		126,531,640
3.875%, 08/15/33		60,000,000		55,228,125
Total U.S. Treasury Obligations (Cost $933,889,707)				855,410,165
CORPORATE OBLIGATIONS — 20.7%
Consumer Discretionary — 2.9%
Airswift Global
14.110%, SOFRRATE + 8.762%, 05/12/25 (C)(D)		7,000,000		7,240,742
Choice Hotels International
3.700%, 01/15/31		3,000,000		2,359,570
3.700%, 12/01/29		8,000,000		6,551,894
JBS USA LUX
6.750%, 03/15/34 (D)		10,000,000		9,370,800
MajorDrive Holdings IV
6.375%, 06/01/29 (D)		29,685,000		23,005,874
NES Fircroft Bondco
11.750%, 09/29/26 (D)		2,750,000		2,830,581
Nissan Motor Acceptance
7.050%, 09/15/28 (D)		2,000,000		1,975,266
STL Holding
7.500%, 02/15/26 (D)		16,460,000		15,390,100
TransJamaican Highway
5.750%, 10/10/36 (D)		1,378,217		1,137,029
VistaJet Malta Finance
7.875%, 05/01/27 (D)		14,863,000		11,430,836
6.375%, 02/01/30 (D)		2,000,000		1,333,785
				82,626,477
Consumer Staples — 0.3%
J M Smucker
6.200%, 11/15/33		5,000,000		4,860,096
Philip Morris International
5.125%, 02/15/30		2,500,000		2,355,153
				7,215,249
Energy — 6.1%
Apache
7.750%, 12/15/29		4,138,000		4,241,450
Barclays
6.692%, SOFRRATE + 2.620%, 09/13/34 (C)		2,000,000		1,891,460
Colonial Pipeline
8.375%, 11/01/30 (D)		500,000		540,679

Description	Face Amount		Value
Farmers Exchange Capital
7.200%, 07/15/48 (D)	$	2,000,000	$	1,794,097
Intesa Sanpaolo MTN
4.000%, 09/23/29 (D)		5,000,000		4,166,977
New England Power
2.807%, 10/06/50 (D)		5,000,000		2,717,746
Paratus Energy Services
10.000% PIK, 07/15/26 (D)		90,830,719		87,163,774
10.000% PIK, 07/15/26		24,586,317		23,593,738
Petroleos Mexicanos
10.000%, 02/07/33 (D)		2,000,000		1,768,506
Puffin Finance Sarl
15.000%, 09/11/25		14,000,000		14,525,508
Reliance Industries
2.875%, 01/12/32 (D)		2,000,000		1,558,191
Transocean
11.500%, 01/30/27 (D)		17,500,000		18,211,025
Waldorf Energy Finance
12.000%, 03/02/26		1,000,000		800,000
				162,973,151
Financials — 7.4%
BAC Capital Trust XIV
6.071%, TSFR3M + 0.662%, 09/15/72 (C)		9,870,000		7,312,683
Bank of Ireland Group
6.253%, H15T1Y + 2.650%, 09/16/26 (C)(D)		7,000,000		6,934,349
Barclays
8.000%, H15T5Y + 5.431%, 12/15/71 (C)		30,250,000		26,756,124
Charles Schwab
4.000%, H15T10Y + 3.079%, 03/01/72 (C)		2,000,000		1,364,836
Citigroup
6.174%, SOFRRATE + 2.661%, 05/25/34 (C)		5,000,000		4,647,672
Comerica
4.000%, 02/01/29		13,300,000		10,881,227
Comerica Bank
7.875%, 09/15/26		24,790,000		24,866,220
Credit Suisse
4.750%, 08/09/24		15,000,000		14,801,831
Credit Suisse Group
5.100%, H15T5Y + 3.293%, 07/24/72 (E)		10,000,000		500,000
Deutsche Bank
7.500%, USISDA05 + 5.003%, 04/30/72 (C)		4,000,000		3,544,234
7.146%, SOFRRATE + 2.520%, 07/13/27 (C)		4,000,000		3,997,240
7.079%, SOFRRATE + 3.650%, 02/10/34 (C)		5,000,000		4,404,576
3.742%, SOFRRATE + 2.257%, 01/07/33 (C)		2,000,000		1,398,721
Enova International
8.500%, 09/15/25 (D)		3,007,000		2,828,508
Farmers Exchange Capital
7.050%, 07/15/28 (D)		11,075,000		10,905,083
Horace Mann Educators
7.250%, 09/15/28		5,000,000		4,993,010
KeyBank MTN
5.000%, 01/26/33		5,000,000		4,025,509

2

Description	Face Amount		Value
4.700%, 01/26/26	$	20,750,000	$	19,271,554
KeyCorp MTN
4.100%, 04/30/28		7,113,000		6,084,812
Royal Bank of Canada MTN
5.500%, 04/28/33		10,000,000		9,109,540
5.200%, 01/31/33		3,000,000		2,688,739
SBL Holdings
7.000%, H15T5Y + 5.580%, 05/13/72 (C)(D)		2,500,000		1,519,049
6.500%, H15T5Y + 5.620%, 11/13/71 (C)(D)		14,492,000		8,174,180
Synchrony Bank
5.400%, 08/22/25		8,144,000		7,777,485
Synovus Bank
5.625%, 02/15/28		8,000,000		7,105,079
US Bancorp
5.836%, SOFRRATE + 2.260%, 06/12/34 (C)		4,000,000		3,684,270
3.700%, H15T5Y + 2.541%, 01/15/72 (C)		3,273,000		2,297,761
				201,874,292
Industrials — 1.1%
AerCap Ireland Capital DAC
1.750%, 10/29/24		4,000,000		3,819,331
Boeing
2.950%, 02/01/30		3,344,000		2,761,529
Brundage-Bone Concrete Pumping Holdings
6.000%, 02/01/26 (D)		3,100,000		2,931,236
Burlington Northern Santa Fe
7.290%, 06/01/36		5,000,000		5,341,341
Equifax
3.100%, 05/15/30		3,000,000		2,462,828
Flowserve
3.500%, 10/01/30		4,000,000		3,217,460
Leidos
2.300%, 02/15/31		3,291,000		2,475,139
nVent Finance Sarl
5.650%, 05/15/33		3,000,000		2,723,536
Regal Rexnord
6.300%, 02/15/30 (D)		4,500,000		4,234,434
				29,966,834
Information Technology — 1.7%
Apple
4.850%, 05/10/53		7,000,000		6,080,479
3.850%, 05/04/43		10,000,000		7,733,912
Avnet
3.000%, 05/15/31		7,000,000		5,298,479
Kyndryl Holdings
4.100%, 10/15/41		11,130,000		6,904,888
Motorola Solutions
4.600%, 05/23/29		21,435,000		19,973,503
				45,991,261
Materials — 0.4%
AmeriTex HoldCo Intermediate
10.250%, 10/15/28 (D)		3,450,000		3,261,975
Mineral Resources
8.125%, 05/01/27 (D)		8,136,000		7,915,112
Nacional del Cobre de Chile
3.150%, 01/15/51 (D)		500,000		261,794
				11,438,881

Description	Face Amount		Value
Real Estate — 0.2%
GLP Capital
3.250%, 01/15/32 ‡	$	750,000	$	567,266
Invitation Homes Operating Partnership
2.000%, 08/15/31 ‡		2,000,000		1,440,056
Sabra Health Care
3.200%, 12/01/31 ‡		3,920,000		2,876,925
				4,884,247
Utilities — 0.6%
Pacific Gas and Electric
4.500%, 07/01/40		11,000,000		7,807,471
3.750%, 08/15/42		5,000,000		3,075,106
Sempra
6.000%, 10/15/39		6,000,000		5,487,890
				16,370,467
Total Corporate Obligations (Cost $621,890,116)				563,340,859
ASSET-BACKED SECURITIES — 16.6%
Automotive — 8.6%
ACC Auto Trust, Ser 2021-A, Cl D
6.100%, 06/15/29 (D)		13,000,000		12,704,204
American Credit Acceptance Receivables Trust, Ser 2020-4, Cl E
3.650%, 12/14/26 (D)		4,000,000		3,946,995
American Credit Acceptance Receivables Trust, Ser 2023-1, Cl C
5.590%, 04/12/29 (D)		5,000,000		4,889,057
American Credit Acceptance Receivables Trust, Ser 2023-2, Cl D
6.470%, 08/13/29 (D)		4,000,000		3,894,078
American Credit Acceptance Receivables Trust, Ser 2023-3, Cl D
6.820%, 10/12/29 (D)		5,000,000		4,917,273
Avid Automobile Receivables Trust, Ser 2023-1, Cl E
11.140%, 05/15/29 (D)		5,595,000		5,720,757
CarNow Auto Receivables Trust, Ser 2021-2A, Cl C
1.690%, 03/15/27 (D)		3,330,000		3,280,310
CarNow Auto Receivables Trust, Ser 2021-2A, Cl E
4.450%, 02/15/28 (D)		4,000,000		3,690,010
CarNow Auto Receivables Trust, Ser 2023-1A, Cl E
12.040%, 04/16/29 (D)		5,000,000		4,794,559
Chase Issuance Trust, Ser 2023- A2, Cl A
5.080%, 09/15/30		7,000,000		6,845,309
CIG Auto Receivables Trust, Ser 2021-1A, Cl E
4.450%, 05/12/28 (D)		7,000,000		6,522,271
CPS Auto Receivables Trust, Ser 2019-B, Cl F
7.480%, 06/15/26 (D)		6,055,000		6,052,623

3

Description	Face Amount		Value
CPS Auto Receivables Trust, Ser 2019-D, Cl E
3.860%, 10/15/25 (D)	$	5,428,143	$	5,374,857
DT Auto Owner Trust, Ser 2020-1A, Cl E
3.480%, 02/16/27 (D)		4,500,000		4,380,921
DT Auto Owner Trust, Ser 2020-3A, Cl D
1.840%, 06/15/26 (D)		2,000,000		1,907,526
DT Auto Owner Trust, Ser 2021-3A, Cl D
1.310%, 05/17/27 (D)		5,500,000		5,015,217
First Investors Auto Owner Trust 2023-1, Ser 2023-1A, Cl D
7.740%, 01/15/31 (D)		9,000,000		8,940,231
First Investors Auto Owner Trust, Ser 2020-1A, Cl E
4.630%, 06/16/26 (D)		5,510,000		5,466,040
First Investors Auto Owner Trust, Ser 2020-1A, Cl F
7.070%, 06/15/27 (D)		5,300,000		5,274,403
First Investors Auto Owner Trust, Ser 2022-1A, Cl E
5.410%, 06/15/29 (D)		2,280,000		2,059,739
Flagship Credit Auto Trust, Ser 2019-2, Cl D
3.530%, 05/15/25 (D)		3,059,253		3,025,837
Flagship Credit Auto Trust, Ser 2020-1, Cl E
3.520%, 06/15/27 (D)		7,931,000		7,305,489
Flagship Credit Auto Trust, Ser 2020-2, Cl E
8.220%, 09/15/27 (D)		8,000,000		7,832,232
Ford Credit Auto Lease Trust 2023- B, Ser 2023-B, Cl C
6.430%, 04/15/27		5,000,000		4,973,050
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl E
4.690%, 08/15/29 (D)		4,230,000		3,751,340
GLS Auto Receivables Issuer Trust, Ser 2019-3A, Cl D
3.840%, 05/15/26 (D)		6,000,000		5,930,740
GLS Auto Receivables Issuer Trust, Ser 2020-1A, Cl D
3.680%, 11/16/26 (D)		5,000,000		4,866,056
GLS Auto Receivables Issuer Trust, Ser 2020-4A, Cl E
3.510%, 10/15/27 (D)		650,000		615,922
GLS Auto Receivables Issuer Trust, Ser 2022-1A, Cl E
5.640%, 05/15/29 (D)		4,000,000		3,676,492
GLS Auto Receivables Issuer Trust, Ser 2022-3A, Cl E
8.350%, 10/15/29 (D)		1,990,000		1,941,377
Hertz Vehicle Financing, Ser 2021- 1A, Cl D
3.980%, 12/26/25 (D)		10,000,000		9,493,870
Octane Receivables Trust, Ser 2021-2A, Cl B
2.020%, 09/20/28 (D)		3,000,000		2,778,994

Description	Face Amount		Value
Santander Consumer Auto Receivables Trust, Ser 2020-AA, Cl F
10.120%, 01/16/29 (D)	$	27,740,000	$	27,852,268
Santander Consumer Auto Receivables Trust, Ser 2020-BA, Cl F
7.030%, 08/15/28 (D)		6,250,000		6,188,373
Tricolor Auto Securitization Trust, Ser 2022-1A, Cl F
9.800%, 07/16/29 (D)		4,000,000		3,859,675
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl F
16.000%, 06/17/30 (D)		11,910,000		11,773,951
United Auto Credit Securitization Trust, Ser 2022-2, Cl D
6.840%, 01/10/28 (D)		5,389,000		5,309,097
Veros Auto Receivables Trust, Ser 2021-1, Cl C
3.640%, 08/15/28 (D)		4,320,000		4,082,787
VFI ABS 2023-1, Ser 2023-1A, Cl B
7.780%, 08/24/29 (D)		10,000,000		10,006,446
				230,940,376
Credit Card — 0.3%
Capital One Multi-Asset Execution Trust, Ser 2023-A1, Cl A
4.420%, 05/15/28		4,000,000		3,887,190
Mercury Financial Credit Card Master Trust, Ser 2022-1A, Cl A
2.500%, 09/21/26 (D)		3,000,000		2,886,401
Mercury Financial Credit Card Master Trust, Ser 2022-1A, Cl C
5.200%, 09/21/26 (D)		1,780,000		1,662,380
				8,435,971
Other Asset-Backed Securities — 7.7%
510 Asset Backed Trust, Ser 2021- NPL1, Cl A2
3.967%, 06/25/61 (D)(F)		20,000,000		16,938,212
510 Asset Backed Trust, Ser 2021- NPL2, Cl A2
4.090%, 06/25/61 (D)(F)		7,000,000		5,935,822
Amur Equipment Finance Receivables IX, Ser 2021-1A, Cl D
2.300%, 11/22/27 (D)		1,250,000		1,181,274
Amur Equipment Finance Receivables XI, Ser 2022-2A, Cl E
9.320%, 10/22/29 (D)		2,600,000		2,481,584
BHG Securitization Trust, Ser 2022-B, Cl D
6.690%, 06/18/35 (D)		5,993,367		5,410,228
CAL Funding IV, Ser 2020-1A, Cl B
3.500%, 09/25/45 (D)		1,254,458		1,090,796
Carrington Mortgage Loan Trust, Ser 2007-FRE1, Cl M8
2.461%, US0001M + 2.250%, 02/25/37 (C)(E)(G)		1,000,000		—
CF Hippolyta Issuer, Ser 2020-1, Cl A2
1.990%, 07/15/60 (D)		5,256,424		4,380,260

4

Description	Face Amount		Value
CIFC Funding, Ser 2018-1A, Cl A
6.657%, TSFR3M + 1.262%, 04/18/31 (C)(D)	$	9,816,346	$	9,772,693
CIFC Funding, Ser 2022-2A, Cl A1
6.717%, TSFR3M + 1.320%, 04/19/35 (C)(D)		4,500,000		4,436,420
CIFC Funding, Ser 2022-2A, Cl B
7.247%, TSFR3M + 1.850%, 04/19/35 (C)(D)		9,125,000		8,919,888
CP EF Asset Securitization I, Ser 2022-1A, Cl A
5.960%, 04/15/30 (D)		2,412,634		2,375,988
Global SC Finance VII Srl, Ser 2020-1A, Cl A
2.170%, 10/17/40 (D)		2,624,435		2,342,470
Harley Marine Financing, Ser 2018-1A, Cl A2
6.682%, 05/15/43 (D)(F)		9,484,489		9,489,753
Harley Marine Financing, Ser 2018-1A, Cl B
8.869%, 05/15/43 (D)(F)		6,000,000		6,003,336
JG Wentworth XXI LLC, Ser 2010- 2A, Cl B
7.450%, 01/15/50 (D)		922,503		919,941
JGWPT XXVI LLC, Ser 2012-2A, Cl B
6.770%, 10/17/61 (D)		1,305,162		1,222,918
Kapitus Asset Securitization, Ser 2022-1A, Cl A
3.382%, 07/10/28 (D)		8,000,000		7,565,257
LCM Loan Income Fund I Income Note Issuer, Ser 2018-27A, Cl A1
6.736%, TSFR3M + 1.342%, 07/16/31 (C)(D)		11,744,384		11,695,480
Libra Solutions, Ser 2023-1A, Cl A
7.000%, 02/15/35 (D)		3,473,454		3,456,063
Libra Solutions, Ser 2023-1A, Cl B
10.250%, 02/15/35 (D)		5,040,676		5,044,281
Marlette Funding Trust, Ser 2020- 1A, Cl D
3.540%, 03/15/30 (D)		435,814		429,728
Mosaic Solar Loan Trust, Ser 2020-2A, Cl B
2.210%, 08/20/46 (D)		2,553,514		1,966,157
OHA Credit Funding 7, Ser 2022- 7A, Cl AR
6.697%, TSFR3M + 1.300%, 02/24/37 (C)(D)		25,000,000		24,730,300
Oportun Issuance Trust, Ser 2022- A, Cl C
7.400%, 06/09/31 (D)		3,000,000		2,831,773
Orange Lake Timeshare Trust, Ser 2019-A, Cl C
3.610%, 04/09/38 (D)		1,010,439		958,811
Orange Lake Timeshare Trust, Ser 2019-A, Cl D
4.930%, 04/09/38 (D)		166,725		156,660
Pawneee Equipment Receivables, Ser 2021-1, Cl C
2.300%, 07/15/27 (D)		4,700,000		4,321,596

Description	Face Amount		Value
Pawneee Equipment Receivables, Ser 2022-1, Cl C
6.010%, 07/17/28 (D)	$	4,000,000	$	3,796,303
PRET, Ser 2021-NPL3, Cl A2
3.721%, 07/25/51 (D)(F)		4,755,000		3,607,071
PRET, Ser 2021-NPL5, Cl A2
4.704%, 10/25/51 (D)(F)		7,000,000		6,055,553
PRET, Ser 2021-RN3, Cl A1
1.843%, 09/25/51 (D)(F)		6,478,007		5,803,597
PRET, Ser 2021-RN4, Cl A2
5.194%, 10/25/51 (C)(D)		6,000,000		5,164,176
Pretium Mortgage Credit Partners I, Ser 2021-NPL1, Cl A2
4.213%, 09/27/60 (D)(F)		9,000,000		7,432,309
Pretium Mortgage Credit Partners I, Ser 2021-NPL2, Cl A2
3.844%, 06/27/60 (D)(F)		2,750,000		2,123,928
PRPM, Ser 2021-10, Cl A2
4.826%, 10/25/26 (D)(F)		8,000,000		7,149,894
PRPM, Ser 2021-5, Cl A2
3.721%, 06/25/26 (D)(F)		5,000,000		4,080,186
Sapphire Aviation Finance I, Ser 2018-1A, Cl B
5.926%, 03/15/40 (D)		1,715,776		926,605
Stack Infrastructure Issuer, Ser 2019-1A, Cl A2
4.540%, 02/25/44 (D)		1,330,485		1,319,903
Textainer Marine Containers VII, Ser 2020-2A, Cl B
3.340%, 09/20/45 (D)		1,405,436		1,236,310
Triton Container Finance VIII, Ser 2020-1A, Cl B
3.740%, 09/20/45 (D)		737,917		640,253
VOLT CIII, Ser 2021-CF1, Cl A2
3.967%, 08/25/51 (D)(F)		3,303,000		2,731,228
VOLT, Ser 2021-CF2, Cl A2
5.316%, 11/27/51 (D)(F)		4,000,000		3,291,456
VR Funding, Ser 2020-1A, Cl A
2.790%, 11/15/50 (D)		5,993,978		5,250,884
VR Funding, Ser 2020-1A, Cl C
6.420%, 11/15/50 (D)		3,707,500		3,447,116
				210,114,461
Student Loan — 0.0%
Commonbond Student Loan Trust, Ser 2017-AGS, Cl A1
2.550%, 05/25/41 (D)		1,101,534		1,016,903
Total Asset-Backed Securities (Cost $474,392,310)				450,507,711
MORTGAGE-BACKED SECURITIES — 16.5%
Agency Mortgage-Backed Obligation — 5.4%
FHLMC
6.000%, 08/01/53		41,225,160		40,200,050
FHLMC STRIPS, Ser 2012-293, Cl IO, IO
4.000%, 11/15/32		474,158		45,338
FHLMC, Ser 2012-3996, Cl QL
4.000%, 02/15/42		4,980,087		4,442,863
FHLMC, Ser 2012-4029, Cl LI, IO
3.000%, 01/15/27		688,550		10,989
FHLMC, Ser 2012-4077, Cl AI, IO
3.000%, 01/15/27		342,426		1,503

5

Description	Face Amount		Value
FHLMC, Ser 2012-4106, Cl YI, IO
2.500%, 09/15/27	$	876,699	$	29,420
FHLMC, Ser 2012-4116, Cl MI, IO
4.000%, 10/15/42		11,548,990		1,739,919
FHLMC, Ser 2012-4116, Cl PI, IO
4.000%, 10/15/42		3,708,430		796,481
FHLMC, Ser 2012-4134, Cl BI, IO
2.500%, 11/15/27		2,567,317		85,884
FHLMC, Ser 2012-4136, Cl PI, IO
3.000%, 11/15/32		7,224,172		691,478
FHLMC, Ser 2012-4148, Cl LI, IO
2.500%, 12/15/27		1,809,642		63,617
FHLMC, Ser 2013-4213, Cl IG, IO
4.000%, 06/15/43		5,890,035		1,013,205
FHLMC, Ser 2014-4349, Cl KI, IO
3.000%, 04/15/33		3,542,232		190,946
FHLMC, Ser 2015-4457, Cl EI, IO
3.500%, 02/15/45		249,701		39,610
FHLMC, Ser 2017-4675, Cl VE
3.500%, 08/15/37		4,707,000		4,415,170
FHLMC, Ser 2019-4908, Cl AS, IO
0.665%, SOFR30A + 5.986%, 01/25/45 (C)		9,424,662		817,837
FHLMC, Ser 2021-5085, Cl IG, IO
2.500%, 03/25/51		20,575,584		2,606,186
FHLMC, Ser 2022-5202, Cl KI, IO
3.500%, 06/25/49		15,323,463		2,628,653
FNMA
6.000%, 09/01/53	��	19,912,489		19,276,636
5.500%, 05/01/44		3,300,301		3,243,254
4.500%, 08/01/41		1,879,438		1,735,179
3.000%, 10/01/32 to 11/01/46		4,944,785		4,203,348
FNMA STRIPS, Ser 2009-397, Cl 2, IO
5.000%, 09/25/39		1,040,590		195,139
FNMA STRIPS, Ser 2009-400, Cl 2, IO
4.500%, 11/25/39		802,177		130,874
FNMA STRIPS, Ser 2010-404, Cl 2, IO
4.500%, 05/25/40		1,462,796		262,318
FNMA STRIPS, Ser 2011-407, Cl 2, IO
4.000%, 03/25/41		1,451,049		238,568
FNMA STRIPS, Ser 2012-410, Cl C5, IO
3.500%, 05/25/27		1,863,761		55,180
FNMA STRIPS, Ser 2015-421, Cl C1, IO
3.000%, 05/25/30		1,756,281		121,074
FNMA, Ser 2011-103, Cl GI, IO
3.500%, 10/25/26		453,814		9,884
FNMA, Ser 2011-146, Cl AY
3.500%, 01/25/32		1,979,549		1,850,127
FNMA, Ser 2012-61, Cl KI, IO
4.000%, 12/25/41		2,577,277		193,937
FNMA, Ser 2012-68, Cl GY
3.000%, 07/25/32		5,000,000		4,479,234
FNMA, Ser 2013-104, Cl TI, IO
3.000%, 08/25/32		982,807		38,117

Description	Face Amount			Value
FNMA, Ser 2014-40, Cl GI, IO
3.000%, 06/25/33	$	3,919,419		$	368,929
FNMA, Ser 2017-52, Cl DI, IO
4.500%, 07/25/47		6,656,920			1,111,918
FNMA, Ser 2019-44, Cl CI, IO
4.000%, 08/25/59		5,443,461			1,190,775
FNMA, Ser 2019-44, Cl PI, IO
4.000%, 08/25/49		4,479,761			735,699
FNMA, Ser 2020-44, Cl MI, IO
2.500%, 01/25/57		12,154,066			1,865,068
GNMA, Ser 2013-170, Cl QI, IO
3.173%, 11/20/43 (C)		7,065,026			835,309
GNMA, Ser 2013-42, Cl MI, IO
3.500%, 04/20/41		276,179			1,835
GNMA, Ser 2013-62, Cl NI, IO
4.000%, 08/20/40		2,201,564			117,016
GNMA, Ser 2014-32, Cl CI, IO
4.000%, 03/20/43		1,908,067			150,468
GNMA, Ser 2014-44, Cl IO, IO
4.000%, 11/16/26		1,842,686			38,231
GNMA, Ser 2015-103, Cl CI, IO
4.000%, 07/20/45		9,790,741			1,661,170
GNMA, Ser 2015-17, Cl JI, IO
3.500%, 05/20/28		1,644,220			35,028
GNMA, Ser 2016-99, Cl ID, IO
4.500%, 04/16/44		14,331,890			3,155,951
GNMA, Ser 2017-137, Cl DI, IO
3.000%, 02/20/47		786,864			16,484
GNMA, Ser 2020-189, Cl IJ, IO
2.500%, 12/20/50		19,893,099			2,295,773
GNMA, Ser 2020-191, Cl CT
1.250%, 12/20/50		3,877,184	��		2,755,669
GNMA, Ser 2021-8, Cl IG, IO
2.500%, 01/20/51		26,319,931			3,339,275
GNMA, Ser 2023-59, Cl G
6.000%, 03/20/50		19,361,355			18,901,142
GNMA, Ser 2023-93, Cl B
5.500%, 12/20/44		12,655,777			12,176,627
					146,604,385
Commercial Mortgage-Backed Obligation — 9.9%
280 Park Avenue Mortgage Trust, Ser 280P, Cl F
8.463%, TSFR1M + 3.127%, 09/15/34 (C)(D)		12,500,000			10,067,234
Bear Stearns Commercial Mortgage Securities Trust, Ser 2007-T26, Cl AJ
5.566%, 01/12/45 (C)		106,656			102,208
Benchmark Mortgage Trust, Ser 2020-B18, Cl E
2.250%, 07/15/53 (D)		8,000,000			3,241,418
Benchmark Mortgage Trust, Ser 2020-B21, Cl D
2.000%, 12/17/53 (D)		13,000,000			6,070,565
Benchmark Mortgage Trust, Ser 2020-IG3, Cl A4
2.437%, 09/15/48 (D)		10,000,000			7,516,244
BX Commercial Mortgage Trust, Ser 2020-VIV3, Cl B
3.544%, 03/09/44 (C)(D)		8,000,000			6,480,750

6

Description	Face Amount		Value
BXMT, Ser 2020-FL2, Cl A
6.350%, TSFR1M + 1.014%, 02/15/38 (C)(D)	$	8,861,368	$	8,498,168
CAFL, Ser 2022-RTL1, Cl A1
4.250%, 05/28/29 (F)		7,000,000		6,667,084
Citigroup Commercial Mortgage Trust, Ser 2015-GC31, Cl C
4.035%, 06/10/48 (C)		5,000,000		3,825,000
Commercial Mortgage Trust, Ser 2014-LC15, Cl D
5.003%, 04/10/47 (C)(D)		9,500,000		8,258,697
Commercial Mortgage Trust, Ser 2014-UBS6, Cl C
4.433%, 12/10/47 (C)		4,000,000		3,369,586
Commercial Mortgage Trust, Ser 2015-DC1, Cl D
4.299%, 02/10/48 (C)(D)		9,000,000		7,002,632
Credit Suisse First Boston Mortgage Securities, Ser 2005- C2, Cl AMFL
5.700%, TSFR1M + 0.364%, 04/15/37 (C)		29,284		29,166
Credit Suisse First Boston Mortgage Securities, Ser 2005- C2, Cl AMFX
4.877%, 04/15/37		2,617		2,569
CSMC Trust, Ser 2019-AFC1, Cl A1
3.573%, 07/25/49 (D)(F)		2,319,722		2,095,071
DROP Mortgage Trust, Ser 2021- FILE, Cl D
8.199%, TSFR1M + 2.864%, 10/15/43 (C)(D)		15,000,000		10,808,764
FHLMC Military Housing Bonds Resecuritization Trust Certificates, Ser 2015-R1, Cl C3
5.943%, 11/25/52 (C)(D)		32,575,053		26,633,883
Fontainebleau Miami Beach Trust, Ser 2019-FBLU, Cl A
3.144%, 12/10/36 (D)		10,000,000		9,574,514
FREMF Mortgage Trust, Ser 2016- K54, Cl C
4.052%, 04/25/48 (C)(D)		5,000,000		4,750,963
FREMF Mortgage Trust, Ser 2016- K57, Cl C
3.918%, 08/25/49 (C)(D)		8,840,000		8,262,209
GNMA, Ser 2022-182, Cl PO, PO
0.000%, 10/20/52 (B)(H)		34,638,660		23,050,856
GNMA, Ser 2023-122, Cl G
5.500%, 05/20/46		10,921,217		10,617,309
GNMA, Ser 2023-151, Cl PO, PO
0.000%, 10/20/53 (B)(H)		34,615,386		23,271,999
GNMA, Ser 2023-163, Cl B
6.000%, 02/20/48		22,000,000		21,867,511
GNMA, Ser 2023-163, Cl LB
6.000%, 02/20/48		10,000,000		9,831,713
Hudson Yards Mortgage Trust, Ser 2019-30HY, Cl B
3.380%, 07/10/39 (C)(D)		2,500,000		2,037,761
JPMDB Commercial Mortgage Securities Trust, Ser 2016-C2, Cl C
3.328%, 06/15/49 (C)		4,328,000		3,022,850

Description	Face Amount		Value
JPMorgan Chase Commercial Mortgage Securities, Ser 2007- LD12, Cl AJ
6.349%, 02/15/51 (C)	$	556,873	$	542,697
JPMorgan Chase Commercial Mortgage Securities, Ser 2007- LD12, Cl J
5.994%, 02/15/51 (C)(E)(G)		1,000,000		—
LStar Commercial Mortgage Trust, Ser 2016-4, Cl AS
3.188%, 03/10/49 (D)		3,000,000		2,730,398
MFA Trust, Ser 2022-INV1, Cl A3
4.250%, 04/25/66 (C)(D)		4,000,000		2,986,766
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016- C29, Cl C
4.721%, 05/15/49 (C)		2,413,000		2,073,110
TRTX Issuer, Ser 2021-FL4, Cl C
7.850%, TSFR1M + 2.514%, 03/15/38 (C)(D)		10,000,000		9,158,920
Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl C
4.729%, 01/15/59 (C)		5,000,000		4,374,433
Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl D
3.788%, 01/15/59 (C)(D)		2,000,000		1,540,857
Wells Fargo Commercial Mortgage Trust, Ser 2016-C34, Cl B
4.089%, 06/15/49		5,000,000		4,296,216
Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Cl A
4.058%, 08/17/36 (C)(D)		5,000,000		4,413,048
WFRBS Commercial Mortgage Trust, Ser 2013-UBS1, Cl C
5.053%, 03/15/46 (C)		3,000,000		2,949,469
WFRBS Commercial Mortgage Trust, Ser 2014-C25, Cl D
3.803%, 11/15/47 (C)(D)		7,310,000		6,211,372
				268,234,010
Non-Agency Residential Mortgage-Backed Obligation — 1.2%
Angel Oak Mortgage Trust, Ser 2021-4, Cl A3
1.446%, 01/20/65 (C)(D)		2,071,409		1,595,732
Arroyo Mortgage Trust, Ser 2019-2, Cl A2
3.498%, 04/25/49 (C)(D)		1,985,593		1,801,797
CAFL, Ser 2021-RTL1, Cl A1
2.239%, 03/28/29 (D)(F)		2,000,000		1,855,420
FirstKey Mortgage Trust, Ser 2015- 1, Cl A3
3.500%, 03/25/45 (C)(D)		815,842		693,286
Galton Funding Mortgage Trust, Ser 2019-1, Cl A22
4.000%, 02/25/59 (C)(D)		121,368		108,271
Galton Funding Mortgage Trust, Ser 2019-2, Cl A21
4.000%, 06/25/59 (C)(D)		1,421,100		1,219,807
PSMC Trust, Ser 2020-2, Cl A2
3.000%, 05/25/50 (C)(D)		565,875		474,205
RCO VI Mortgage, Ser 2022-1, Cl A2
5.250%, 01/25/27 (D)(F)		5,000,000		4,719,108

7

Description	Face Amount		Value
Sequoia Mortgage Trust, Ser 2013-4, Cl AIO1, IO
0.845%, 04/25/43 (C)(D)	$	46,683,577	$	1,078,820
Sequoia Mortgage Trust, Ser 2017- CH1, Cl A2
3.500%, 08/25/47 (C)(D)		62,876		55,382
Toorak Mortgage, Ser 2021-1, Cl M1
5.805%, 06/25/24 (D)(F)		15,000,000		14,427,593
Wells Fargo Mortgage Backed Securities Trust, Ser 2020-1, Cl A1
3.000%, 12/25/49 (C)(D)		2,390,724		1,884,937
WinWater Mortgage Loan Trust, Ser 2014-1, Cl A1
3.919%, 06/20/44 (C)(D)		453,263		405,379
WinWater Mortgage Loan Trust, Ser 2014-2, Cl A1
4.000%, 09/20/44 (C)(D)		118,420		105,506
WinWater Mortgage Loan Trust, Ser 2014-3, Cl A3
3.500%, 11/20/44 (C)(D)		332,144		279,659
WinWater Mortgage Loan Trust, Ser 2015-2, Cl A11
3.500%, 02/20/45 (C)(D)		421,672		355,906
WinWater Mortgage Loan Trust, Ser 2015-3, Cl A3
3.500%, 03/20/45 (C)(D)		542,341		471,002
				31,531,810
Total Mortgage-Backed Securities (Cost $496,278,288)				446,370,205
COLLATERALIZED LOAN OBLIGATIONS — 8.8%
AMMC CLO 26, Ser 2023-26A, Cl B1
7.844%, TSFR3M + 2.450%, 04/15/36 (C)(D)		7,500,000		7,516,283
Battalion CLO 17, Ser 2021-17A, Cl B
7.277%, TSFR3M + 1.862%, 03/09/34 (C)(D)		5,000,000		4,929,195
BCC Middle Market CLO, Ser 2018-1A, Cl A1A
7.227%, TSFR3M + 1.812%, 10/20/30 (C)(D)		12,841,184		12,752,965
Benefit Street Partners CLO VIII, Ser 2018-8A, Cl A1AR
6.777%, TSFR3M + 1.362%, 01/20/31 (C)(D)		380,222		379,676
BlueMountain CLO, Ser 2021-2A, Cl A2R2
7.341%, TSFR3M + 1.962%, 08/20/32 (C)(D)		10,000,000		9,818,880
Carlyle Global Market Strategies, Ser 2018-3A, Cl A1A2
6.836%, TSFR3M + 1.442%, 01/14/32 (C)(D)		24,855,641		24,793,775
Carlyle Global Market Strategies, Ser 2018-3RA, Cl A1A
6.699%, TSFR3M + 1.312%, 07/27/31 (C)(D)		14,029,979		13,985,925

Description	Face Amount		Value
Carlyle Global Market Strategies, Ser 2018-5A, Cl A1RR
6.796%, TSFR3M + 1.402%, 07/15/31 (C)(D)	$	15,528,903	$	15,492,100
Elmwood CLO 20, Ser 2022-7A, Cl B1
8.153%, TSFR3M + 2.750%, 10/17/34 (C)(D)		5,625,000		5,610,594
Golub Capital Partners, Ser 2017-17A, Cl A1R
7.290%, TSFR3M + 1.912%, 10/25/30 (C)(D)		6,666,217		6,638,399
Golub Capital Partners, Ser 2017-21A, Cl AR
7.110%, TSFR3M + 1.732%, 01/25/31 (C)(D)		9,746,470		9,700,360
Golub Capital Partners, Ser 2017-22A, Cl AR
6.857%, TSFR3M + 1.442%, 01/20/31 (C)(D)		7,944,422		7,911,477
Golub Capital Partners, Ser 2017- 23A, Cl AR
6.877%, TSFR3M + 1.462%, 01/20/31 (C)(D)		17,473,557		17,421,555
Golub Capital Partners, Ser 2017- 24A, Cl AR
7.254%, TSFR3M + 1.862%, 11/05/29 (C)(D)		8,037,039		8,009,167
Golub Capital Partners, Ser 2018- 36A, Cl A
6.954%, TSFR3M + 1.562%, 02/05/31 (C)(D)		9,985,916		9,919,939
Golub Capital Partners, Ser 2021- 19RA, Cl B1R2
7.227%, TSFR3M + 1.812%, 04/20/34 (C)(D)		20,000,000		19,581,759
Invesco CLO, Ser 2022-3A, Cl B
8.162%, TSFR3M + 2.750%, 10/22/35 (C)(D)		6,000,000		5,984,754
Oaktree CLO, Ser 2021-3A, Cl BR
7.427%, TSFR3M + 2.012%, 10/20/34 (C)(D)		13,500,000		13,141,359
Texas Debt Capital CLO, Ser 2023-1A, Cl A
7.216%, TSFR3M + 1.800%, 04/20/36 (C)(D)		4,000,000		4,005,576
Venture 37 CLO, Ser 2021-37A, Cl BR
7.406%, TSFR3M + 2.012%, 07/15/32 (C)(D)		10,000,000		9,688,150
Venture XIX, Ser 2018-19A, Cl ARR
6.916%, TSFR3M + 1.522%, 01/15/32 (C)(D)		19,250,000		19,170,440
Zais, Ser 2017-1A, Cl A2
7.156%, TSFR3M + 1.762%, 07/15/29 (C)(D)		11,250,000		11,150,584
Total Collateralized Loan Obligations (Cost $239,593,197)				237,602,912
U.S. GOVERNMENT AGENCY OBLIGATIONS — 2.3%
FAMC
6.125%, 10/27/32		3,000,000		2,930,324

8

Description	Face Amount		Value
FFCB
6.330%, 06/07/38	$	2,500,000	$	2,433,839
6.250%, 07/26/38		2,000,000		1,950,879
6.080%, 04/28/33		5,000,000		4,875,088
6.050%, 08/22/31		3,000,000		2,929,233
5.930%, 03/28/33		3,000,000		2,909,974
5.700%, 03/23/26		3,000,000		2,980,952
5.560%, 06/06/25		2,000,000		1,989,125
5.490%, 09/22/42		1,000,000		894,934
5.360%, 06/16/33		2,000,000		1,902,179
FHLB
7.000%, 10/17/33		3,000,000		2,994,129
6.610%, 11/09/34		2,000,000		1,973,499
6.500%, 09/13/38		2,500,000		2,450,958
6.230%, 12/28/37		2,000,000		1,942,304
6.110%, 12/21/32		12,000,000		11,712,692
6.050%, 07/19/38		2,000,000		1,922,943
6.000%, 04/12/38		3,000,000		2,879,996
5.940%, 04/20/43		2,000,000		1,899,481
2.150%, 09/23/36		1,500,000		988,170
FHLMC
7.000%, 10/30/43		1,000,000		1,000,000
6.150%, 09/28/28		3,000,000		2,968,861
6.000%, 09/18/26		2,500,000		2,485,936
Total U.S. Government Agency Obligations (Cost $62,990,265)				61,015,496
MUNICIPAL BONDS — 1.6%
Board of Regents of the University of Texas System, Build America Bonds, Ser D, Cl D, RB
5.134%, 08/15/42		3,000,000	��	2,785,726
GDB Debt Recovery Authority of Puerto Rico, RB
7.500%, 08/20/40		6,154,558		5,015,965
Mission, Economic Development, RB
8.550%, 12/01/21(E)(G)		2,125,000		21,250
Mission, Economic Development, RB
10.875%, 12/01/28(E)(G)		3,315,000		33,150
9.750%, 12/01/25(E)(G)		3,045,000		30,450
North Texas Tollway Authority, RB
8.410%, 02/01/30		1,959,000		2,104,272
Northwest Independent School District, Ser A, GO, PSF-GTD
1.776%, 02/15/31		2,000,000		1,570,439
1.836%, 02/15/32		1,890,000		1,438,578
Rhode Island State, Health & Educational System, Providence Public Schools, Ser A, Cl A, RB, CITY APPROP ST AID WITHHLDG
8.000%, 05/15/29		5,000,000		5,004,981
State of Illinois, Ser A, GO
3.140%, 10/01/24		14,460,000		14,088,487
Texas State, Transportation Commission State Highway Fund, RB
4.000%, 10/01/33		3,000,000		2,669,261

Description	Face Amount		Value
Texas State, Transportation Commission State Highway Fund, Ser B-BUILD, RB
5.178%, 04/01/30	$	3,980,000	$	3,899,628
USAFA Visitor’s Center Business Improvement District, Ser B, RB
6.750%, 12/01/42(D)		5,000,000		4,267,480
Total Municipal Bonds (Cost $54,241,924)				42,929,667
	Shares
COMMON STOCK — 0.6%
Energy — 0.6%
Paratus Energy Services *(G)		27,666		15,106,308
Total Common Stock (Cost $–)				15,106,308
	Face Amount
SOVEREIGN DEBT — 0.3%
Colombia Government International Bond
3.250%, 04/22/32		5,000,000		3,577,131
Kenya Government International Bond
7.250%, 02/28/28 (D)		3,000,000		2,430,000
Provincia de Buenos Aires
6.375%, 09/01/24 (D)(F)		333,959		106,032
Ukraine Government International Bond
7.750%, 09/01/24 (E)		5,000,000		1,563,860
Total Sovereign Debt (Cost $12,375,564)				7,677,023
Total Investments — 98.9% (Cost $2,895,651,371)			$	2,679,960,346

Percentages are based on Net Assets of $2,709,830,091.

* Non-income producing security.

‡ Real Estate Investment Trust

(A) Interest rate represents the security’s effective yield at the time of purchase.

(B) Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at the time of purchase.

(C) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

(D) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” The total value of such securities at October 31, 2023 was $1,099,682,358 and represents 40.6% of Net Assets.

(E) Security in default on interest payments.

(F) Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on October 31, 2023. The coupon on a step bond changes on a specific date.

(G) Level 3 security in accordance with fair value hierarchy.

(H) PO - Principal Only

See “Glossary” for abbreviations.

FIA-QH-001-3200

9

Description	Face Amount		Value
CORPORATE OBLIGATIONS — 42.2%
Communication Services — 3.8%
ANGI Group
3.875%, 08/15/28 (A)	$	2,000,000	$	1,499,986
LCPR Senior Secured Financing DAC
6.750%, 10/15/27 (A)		900,000		814,500
T-Mobile USA
3.500%, 04/15/31		3,000,000		2,490,458
Warnermedia Holdings
4.279%, 03/15/32		1,750,000		1,450,952
				6,255,896
Consumer Discretionary — 12.9%
Airswift Global
14.110%, SOFRRATE + 8.762%, 05/12/25 (A)(B)		2,000,000		2,068,784
APX Group
5.750%, 07/15/29 (A)		3,000,000		2,494,091
Beazer Homes USA
7.250%, 10/15/29 (A)		1,000,000		912,304
Bloomin’ Brands
5.125%, 04/15/29 (A)		2,500,000		2,168,032
Choice Hotels International
3.700%, 12/01/29		2,000,000		1,637,973
Dillard’s
7.000%, 12/01/28		500,000		492,140
Imperial Brands Finance
6.125%, 07/27/27 (A)		500,000		495,502
JBS USA LUX
6.750%, 03/15/34 (A)		2,000,000		1,874,160
MajorDrive Holdings IV
6.375%, 06/01/29 (A)		3,000,000		2,325,000
NES Fircroft Bondco
11.750%, 09/29/26 (A)		500,000		514,651
Nissan Motor Acceptance
7.050%, 09/15/28 (A)		1,000,000		987,633
STL Holding
7.500%, 02/15/26 (A)		2,000,000		1,870,000
Tractor Supply
5.250%, 05/15/33		500,000		457,704
Upbound Group
6.375%, 02/15/29 (A)		1,000,000		860,000
VistaJet Malta Finance
7.875%, 05/01/27 (A)		2,500,000		1,922,700
				21,080,674
Consumer Staples — 3.1%
J M Smucker
6.500%, 11/15/53		2,000,000		1,885,745
Philip Morris International
5.125%, 02/15/30		2,000,000		1,884,122
Walgreens Boots Alliance
4.800%, 11/18/44		2,000,000		1,334,041
				5,103,908
Energy — 2.3%
Borr IHC
10.000%, 11/15/28 (A)		1,200,000		1,194,278
Colonial Pipeline
8.375%, 11/01/30 (A)		1,500,000		1,622,038
Puffin Finance Sarl
15.000%, 09/11/25		1,000,000		1,037,536
				3,853,852

Description	Face Amount		Value
Financials — 5.8%
Athene Holding
6.150%, 04/03/30	$	500,000	$	486,031
Charles Schwab
4.000%, H15T10Y + 3.079%, 03/01/72 (B)		1,500,000		1,023,627
Deutsche Bank
7.146%, SOFRRATE + 2.520%, 07/13/27 (B)		1,000,000		999,310
Discover Financial Services
6.700%, 11/29/32		2,000,000		1,852,818
Royal Bank of Canada MTN
5.200%, 01/31/33		1,000,000		896,246
UBS
5.125%, 05/15/24		1,500,000		1,477,836
UBS Group
6.373%, SOFRRATE + 3.340%, 07/15/26 (A)(B)		1,000,000		993,912
US Bancorp
5.836%, SOFRRATE + 2.260%, 06/12/34 (B)		1,000,000		921,068
Westpac Banking
2.894%, H15T5Y + 1.350%, 02/04/30 (B)		1,000,000		946,425
				9,597,273
Industrials — 8.2%
Boeing
5.150%, 05/01/30		2,000,000		1,873,900
2.196%, 02/04/26		1,000,000		918,831
Brundage-Bone Concrete Pumping Holdings
6.000%, 02/01/26 (A)		4,103,000		3,879,632
Flowserve
3.500%, 10/01/30		2,000,000		1,608,730
Icahn Enterprises
4.750%, 09/15/24		1,000,000		959,096
Lockheed Martin
5.250%, 01/15/33		1,500,000		1,445,277
Masco
7.750%, 08/01/29		1,088,000		1,166,995
nVent Finance Sarl
5.650%, 05/15/33		1,000,000		907,845
Regal Rexnord
6.300%, 02/15/30 (A)		500,000		470,493
				13,230,799
Information Technology — 2.9%
Apple
3.850%, 05/04/43		2,000,000		1,546,782
Consensus Cloud Solutions
6.000%, 10/15/26 (A)		1,000,000		926,213
Kyndryl Holdings
4.100%, 10/15/41		3,829,000		2,375,456
				4,848,451
Materials — 0.8%
AmeriTex HoldCo Intermediate
10.250%, 10/15/28 (A)		1,000,000		945,500
Mineral Resources
8.125%, 05/01/27 (A)		420,000		408,597
				1,354,097
Real Estate — 2.0%
GLP Capital
3.250%, 01/15/32 ‡		2,500,000		1,890,889

10

Description	Face Amount		Value
Sabra Health Care
3.200%, 12/01/31 ‡	$	2,000,000	$	1,467,818
				3,358,707
Utilities — 0.4%
Pacific Gas and Electric
4.500%, 07/01/40		1,000,000		709,770
Total Corporate Obligations (Cost $77,412,957)				69,393,427
ASSET-BACKED SECURITIES — 27.3%
Automotive — 13.1%
ACC Auto Trust, Ser 2021-A, Cl D
6.100%, 06/15/29 (A)		1,000,000		977,247
American Credit Acceptance Receivables Trust, Ser 2022-1, Cl F
4.870%, 11/13/28 (A)		2,600,000		2,250,164
American Credit Acceptance Receivables Trust, Ser 2023-2, Cl D
6.470%, 08/13/29 (A)		1,000,000		973,519
American Credit Acceptance Receivables Trust, Ser 2023-3, Cl D
6.820%, 10/12/29 (A)		1,000,000		983,455
Avid Automobile Receivables Trust, Ser 2019-1, Cl E
6.760%, 05/17/27 (A)		1,000,000		992,197
Avid Automobile Receivables Trust, Ser 2021-1, Cl F
5.160%, 10/16/28 (A)		2,000,000		1,836,884
CarNow Auto Receivables Trust, Ser 2021-2A, Cl E
4.450%, 02/15/28 (A)		1,000,000		922,503
Carvana Auto Receivables Trust, Ser 2021-N2, Cl E
2.900%, 03/10/28 (A)		2,000,000		1,835,968
CIG Auto Receivables Trust, Ser 2021-1A, Cl E
4.450%, 05/12/28 (A)		1,590,000		1,481,487
CPS Auto Receivables Trust, Ser 2019-B, Cl F
7.480%, 06/15/26 (A)		500,000		499,804
DT Auto Owner Trust, Ser 2019-4A, Cl E
3.930%, 10/15/26 (A)		2,000,000		1,971,882
DT Auto Owner Trust, Ser 2020-3A, Cl E
3.620%, 10/15/27 (A)		1,500,000		1,432,176
Exeter Automobile Receivables Trust, Ser 2022-2A, Cl E
6.340%, 10/15/29 (A)		1,443,000		1,272,184
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl E
4.690%, 08/15/29 (A)		1,000,000		886,842
GLS Auto Receivables Issuer Trust, Ser 2021-4A, Cl E
4.430%, 10/16/28 (A)		1,500,000		1,362,468
Tricolor Auto Securitization Trust, Ser 2022-1A, Cl F
9.800%, 07/16/29 (A)		1,000,000		964,919

Description	Face Amount		Value
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl F
16.000%, 06/17/30 (A)	$	1,000,000	$	988,577
				21,632,276
Credit Card — 1.1%
Mercury Financial Credit Card Master Trust, Ser 2022-1A, Cl C
5.200%, 09/21/26 (A)		2,000,000		1,867,843
Other Asset-Backed Securities — 13.1%
Amur Equipment Finance Receivables X, Ser 2022-1A, Cl E
5.020%, 12/20/28 (A)		1,348,000		1,203,090
Audax Senior Debt 6, Ser 2021-6A, Cl B
7.627%, TSFR3M + 2.212%, 10/20/33 (A)(B)		1,000,000		946,637
BHG Securitization Trust, Ser 2022-B, Cl D
6.690%, 06/18/35 (A)		998,895		901,705
CIFC Funding, Ser 2018-1A, Cl C
7.407%, TSFR3M + 2.012%, 04/18/31 (A)(B)		500,000		484,286
CP EF Asset Securitization I, Ser 2022-1A, Cl A
5.960%, 04/15/30 (A)		482,527		475,198
Credibly Asset Securitization II, Ser 2021-1A, Cl B
3.380%, 04/15/26 (A)		524,000		505,562
Harley Marine Financing, Ser 2018-1A, Cl A2
6.682%, 05/15/43 (A)(C)		1,663,945		1,664,868
Kapitus Asset Securitization, Ser 2022-1A, Cl A
3.382%, 07/10/28 (A)		1,500,000		1,418,486
LCM XXII, Ser 2018-22A, Cl BR
7.677%, TSFR3M + 2.262%, 10/20/28 (A)(B)		1,500,000		1,452,939
Libra Solutions, Ser 2023-1A, Cl B
10.250%, 02/15/35 (A)		694,691		695,188
Mosaic Solar Loans, Ser 2017-2A, Cl B
4.770%, 06/22/43 (A)		183,794		161,152
NMEF Funding, Ser 2021-A, Cl D
5.780%, 12/15/27 (A)		1,300,000		1,269,637
OZLM Funding IV, Ser 2017-4A, Cl BR
7.874%, TSFR3M + 2.462%, 10/22/30 (A)(B)		2,000,000		1,991,325
Pawneee Equipment Receivables, Ser 2021-1, Cl E
5.210%, 05/15/28 (A)		353,000		321,252
Pawneee Equipment Receivables, Ser 2022-1, Cl C
6.010%, 07/17/28 (A)		1,000,000		949,076
PRET, Ser 2021-NPL3, Cl A2
3.721%, 07/25/51 (A)(C)		500,000		379,292
PRET, Ser 2021-RN3, Cl A1
1.843%, 09/25/51 (A)(C)		719,779		644,844
PRET, Ser 2021-RN4, Cl A2
5.194%, 10/25/51 (A)(B)		1,850,000		1,592,288

11

Description	Face Amount		Value
Pretium Mortgage Credit Partners I, Ser 2021-NPL1, Cl A2
4.213%, 09/27/60 (A)(C)	$	1,000,000	$	825,812
PRPM, Ser 2021-10, Cl A2
4.826%, 10/25/26 (A)(C)		1,000,000		893,737
Sapphire Aviation Finance I, Ser 2018-1A, Cl B
5.926%, 03/15/40 (A)		285,963		154,434
SCF Equipment Leasing, Ser 2021-1A, Cl D
1.930%, 09/20/30 (A)		1,500,000		1,361,751
Stack Infrastructure Issuer, Ser 2019-1A, Cl A2
4.540%, 02/25/44 (A)		369,579		366,640
VOLT, Ser 2021-CF2, Cl A2
5.316%, 11/27/51 (A)(C)		1,000,000		822,864
				21,482,063
Total Asset-Backed Securities (Cost $48,095,972)				44,982,182
COLLATERALIZED LOAN OBLIGATIONS — 21.5%
Apidos CLO XI, Ser 2021-11A, Cl ER3
12.234%, TSFR3M + 6.832%, 04/17/34 (A)(B)		1,000,000		946,639
BCC Middle Market, Ser 2018-1A, Cl B
8.677%, TSFR3M + 3.262%, 10/20/30 (A)(B)		1,000,000		971,000
Benefit Street Partners CLO III, Ser 2017-IIIA, Cl DR
12.277%, TSFR3M + 6.862%, 07/20/29 (A)(B)		2,500,000		2,371,183
Benefit Street Partners III, Ser 2017-IIIA, Cl CR
9.577%, TSFR3M + 4.162%, 07/20/29 (A)(B)		2,000,000		1,991,454
BlueMountain XXX, Ser 2022-30A, Cl ER
12.094%, TSFR3M + 6.700%, 04/15/35 (A)(B)		2,000,000		1,764,704
Carlyle Global Market Strategies, Ser 2018-1A, Cl CR2
7.464%, TSFR3M + 2.062%, 04/17/31 (A)(B)		1,250,000		1,200,656
CARLYLE US, Ser 2018-1A, Cl B
7.527%, TSFR3M + 2.112%, 04/20/31 (A)(B)		2,000,000		1,930,562
Chenango Park, Ser 2018-1A, Cl B
7.506%, TSFR3M + 2.112%, 04/15/30 (A)(B)		1,000,000		970,576
Golub Capital Partners, Ser 2017- 17A, Cl BR
8.540%, TSFR3M + 3.162%, 10/25/30 (A)(B)		1,500,000		1,452,782
Golub Capital Partners, Ser 2017- 21A, Cl CR
8.090%, TSFR3M + 2.712%, 01/25/31 (A)(B)		3,000,000		2,867,697

Description	Face Amount		Value
Golub Capital Partners, Ser 2017-22A, Cl CR
7.527%, TSFR3M + 2.112%, 01/20/31 (A)(B)	$	1,500,000	$	1,450,143
Golub Capital Partners, Ser 2017-23A, Cl BR
7.227%, TSFR3M + 1.812%, 01/20/31 (A)(B)		1,000,000		968,934
Golub Capital Partners, Ser 2017-23A, Cl CR
7.477%, TSFR3M + 2.062%, 01/20/31 (A)(B)		2,000,000		1,951,042
Golub Capital Partners, Ser 2017-24A, Cl DR
9.554%, TSFR3M + 4.162%, 11/05/29 (A)(B)		2,000,000		1,909,746
Golub Capital Partners, Ser 2018-26A, Cl BR
7.227%, TSFR3M + 1.812%, 04/20/31 (A)(B)		1,000,000		969,936
Golub Capital Partners, Ser 2018-36A, Cl B
7.304%, TSFR3M + 1.912%, 02/05/31 (A)(B)		2,000,000		1,940,862
Golub Capital Partners, Ser 2018-36A, Cl C
7.754%, TSFR3M + 2.362%, 02/05/31 (A)(B)		1,500,000		1,426,131
MCF VIII, Ser 2018-1A, Cl B
7.407%, TSFR3M + 2.012%, 07/18/30 (A)(B)		3,000,000		2,918,805
Race Point IX, Ser 2017-9A, Cl BR
7.806%, TSFR3M + 2.412%, 10/15/30 (A)(B)		4,000,000		3,844,839
Race Point IX, Ser 2017-9A, Cl DR
12.556%, TSFR3M + 7.162%, 10/15/30 (A)(B)		2,000,000		1,541,890
Total Collateralized Loan Obligations (Cost $37,096,294)				35,389,581
MORTGAGE-BACKED SECURITIES — 4.2%
Commercial Mortgage-Backed Obligation — 3.6%
Benchmark Mortgage Trust, Ser 2020-B21, Cl D
2.000%, 12/17/53 (A)		1,000,000		466,967
BXMT, Ser 2020-FL2, Cl A
6.350%, TSFR1M + 1.014%, 02/15/38 (A)(B)		681,644		653,705
Cold Storage Trust, Ser 2020-ICE5, Cl E
8.216%, TSFR1M + 2.880%, 11/15/37 (A)(B)		982,991		970,658
Commercial Mortgage Trust, Ser 2014-UBS6, Cl C
4.433%, 12/10/47 (B)		1,000,000		842,396
Commercial Mortgage Trust, Ser 2015-DC1, Cl D
4.299%, 02/10/48 (A)(B)		1,517,000		1,180,331
FREMF Mortgage Trust, Ser 2016-K54, Cl C
4.052%, 04/25/48 (A)(B)		1,000,000		950,193

12

Description	Face Amount		Value
WFRBS Commercial Mortgage Trust, Ser 2014-C25, Cl D
3.803%, 11/15/47 (A)(B)	$	1,000,000	$	849,709
				5,913,959
Non-Agency Residential Mortgage-Backed Obligation — 0.6%
RCO VI Mortgage, Ser 2022-1, Cl A2
5.250%, 01/25/27 (A)(C)		1,000,000		943,822
Total Mortgage-Backed Securities (Cost $7,534,756)				6,857,781
	Shares
PREFERRED STOCK — 0.0%
Communication Services — 0.0%
MYT Holding LLC
10.000%, 06/07/29 (A)		64,528		40,653
Total Preferred Stock (Cost $64,528)				40,653
COMMON STOCK — 0.0%
Industrials — 0.0%
Erickson *(D)		3,761		38
Total Common Stock (Cost $1,829,567)				38
	Face Amount
REPURCHASE AGREEMENT(E) — 4.3%
Tri Party Overnight 5.150%, dated 10/31/23, to be repurchased on 11/01/23, repurchase price $7,001,001 (collateralized by various Government Obligations, ranging in par value $31,098 - $26,000,000, 0.050% - 7.500%, 08/10/29 - 02/15/61, with a total market value of $7,181,063)		7,000,000		7,000,000
Total Repurchase Agreement (Cost $7,000,000)				7,000,000
Total Investments — 99.5% (Cost $179,034,074)			$	163,663,662

Percentages are based on Net Assets of $164,498,418.

* Non-income producing security.

‡ Real Estate Investment Trust

(A) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” The total value of such securities at October 31, 2023 was $117,675,807 and represents 71.5% of Net Assets.

(B) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

(C) Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on October 31, 2023. The coupon on a step bond changes on a specific date.

(D) Level 3 security in accordance with fair value hierarchy.

(E) Tri-Party Repurchase Agreement.

See “Glossary” for abbreviations.

FIA-QH-001-3200

13

Description	Face Amount		Value
ASSET-BACKED SECURITIES — 42.0%
Automotive — 22.0%
American Credit Acceptance Receivables Trust, Ser 2022-4, Cl B
6.750%, 10/13/26 (A)	$	2,000,000	$	2,000,815
American Credit Acceptance Receivables Trust, Ser 2023-1, Cl C
5.590%, 04/12/29 (A)		1,000,000		977,811
American Credit Acceptance Receivables Trust, Ser 2023-3, Cl C
6.440%, 10/12/29 (A)		5,000,000		4,956,352
Arivo Acceptance Auto Loan Receivables Trust, Ser 2021-1A, Cl A
1.190%, 01/15/27 (A)		201,754		197,677
Arivo Acceptance Auto Loan Receivables Trust, Ser 2022-1A, Cl A
3.930%, 05/15/28 (A)		420,672		411,577
Avid Automobile Receivables Trust, Ser 2021-1, Cl D
1.990%, 04/17/28 (A)		1,300,000		1,225,794
Carmax Auto Owner Trust, Ser 2022-4, Cl C
6.490%, 07/17/28		3,500,000		3,493,998
Carmax Auto Owner Trust, Ser 2022-4, Cl D
8.080%, 04/16/29		1,500,000		1,522,718
Chase Issuance Trust, Ser 2023-A2, Cl A
5.080%, 09/15/30		3,000,000		2,933,704
Credit Acceptance Auto Loan Trust, Ser 2021-3A, Cl C
1.630%, 09/16/30 (A)		1,700,000		1,597,385
DT Auto Owner Trust, Ser 2020-3A, Cl C
1.470%, 06/15/26 (A)		593,236		584,506
DT Auto Owner Trust, Ser 2022-2A, Cl D
5.460%, 03/15/28 (A)		4,000,000		3,850,962
Flagship Credit Auto Trust, Ser 2022-4, Cl B
6.780%, 10/15/27 (A)		1,500,000		1,509,817
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl D
3.070%, 05/15/28 (A)		4,780,000		4,418,702
GLS Auto Receivables Issuer Trust, Ser 2021-2A, Cl D
1.420%, 04/15/27 (A)		20,000		18,609
Prestige Auto Receivables Trust, Ser 2021-1A, Cl D
2.080%, 02/15/28 (A)		4,000,000		3,609,172
Prestige Auto Receivables Trust, Ser 2023-1A, Cl B
5.550%, 04/15/27 (A)		8,000,000		7,883,450
United Auto Credit Securitization Trust, Ser 2023-1, Cl C
6.280%, 07/10/28 (A)		4,326,000		4,267,754

Description	Face Amount		Value
VFI ABS, Ser 2023-1A, Cl A
7.270%, 03/26/29 (A)	$	3,800,000	$	3,799,631
Westlake Automobile Receivables Trust, Ser 2020-3A, Cl C
1.240%, 11/17/25 (A)		217,967		216,956
Westlake Automobile Receivables Trust, Ser 2022-3A, Cl D
6.680%, 04/17/28 (A)		7,000,000		6,928,839
Westlake Automobile Receivables Trust, Ser 2023-2A, Cl D
7.010%, 11/15/28 (A)		3,000,000		2,971,188
World Omni Select Auto Trust, Ser 2023-A, Cl A2A
5.920%, 03/15/27		4,420,714		4,408,230
				63,785,647
Credit Card — 7.1%
Avant Credit Card Master Trust, Ser 2021-1A, Cl A
1.370%, 04/15/27 (A)		1,220,000		1,141,162
CARDS II Trust, Ser 2021-1A, Cl B
0.931%, 04/15/27 (A)		7,250,000		7,059,501
Continental Finance Credit Card ABS Master Trust, Ser 2021-A, Cl A
2.550%, 12/17/29 (A)		5,000,000		4,671,125
Genesis Sales Finance Master Trust, Ser 2021-AA, Cl A
1.200%, 12/21/26 (A)		2,000,000		1,898,323
Trillium Credit Card Trust II, Ser 2021-1A, Cl B
2.026%, 10/26/29 (A)		6,500,000		5,739,312
				20,509,423
Other Asset-Backed Securities — 12.8%
Amur Equipment Finance Receivables X, Ser 2022-1A, Cl D
2.910%, 08/21/28 (A)		2,000,000		1,813,904
Aqua Finance Trust, Ser 2021-A, Cl B
2.400%, 07/17/46 (A)		1,000,000		792,484
BHG Securitization Trust, Ser 2021-B, Cl A
0.900%, 10/17/34 (A)		628,439		605,515
BHG Securitization Trust, Ser 2022-B, Cl A
3.750%, 06/18/35 (A)		270,581		268,635
BXG Receivables Note Trust, Ser 2023-A, Cl A
5.770%, 11/15/38 (A)		4,309,386		4,215,252
CLI Funding VI, Ser 2020-1A, Cl A
2.080%, 09/18/45 (A)		1,709,375		1,472,972
CP EF Asset Securitization I, Ser 2022-1A, Cl A
5.960%, 04/15/30 (A)		1,930,107		1,900,790
Marlette Funding Trust, Ser 2021- 2A, Cl C
1.500%, 09/15/31 (A)		2,000,000		1,935,489
Mosaic Solar Loan Trust, Ser 2021-3A, Cl B
1.920%, 06/20/52 (A)		721,718		510,906
Mosaic Solar Loans, Ser 2017-1A, Cl A
4.450%, 06/20/42 (A)		183,248		171,229

14

Description	Face Amount		Value
New Economy Assets Phase 1 Sponsor, Ser 2021-1, Cl A1
1.910%, 10/20/61 (A)	$	2,000,000	$	1,710,284
Octane Receivables Trust, Ser 2021-1A, Cl A
0.930%, 03/22/27 (A)		380,170		372,973
Octane Receivables Trust, Ser 2021-2A, Cl A
1.210%, 09/20/28 (A)		543,064		525,866
Oportun Issuance Trust, Ser 2021-B, Cl A
1.470%, 05/08/31 (A)		1,750,000		1,591,342
Oportun Issuance Trust, Ser 2022-A, Cl C
7.400%, 06/09/31 (A)		2,030,000		1,916,167
Pawneee Equipment Receivables, Ser 2022-1, Cl C
6.010%, 07/17/28 (A)		5,000,000		4,745,378
Verizon Master Trust, Ser 2023-4, Cl C
5.650%, 06/20/29		9,700,000		9,598,121
VFI ABS, Ser 2022-1A, Cl A
2.230%, 03/24/28 (A)		785,356		767,344
Westgate Resorts, Ser 2022-1A, Cl C
2.488%, 08/20/36 (A)		2,144,093		2,017,767
				36,932,418
Student Loan — 0.1%
Commonbond Student Loan Trust, Ser 2017-AGS, Cl A1
2.550%, 05/25/41 (A)		426,032		393,299
Total Asset-Backed Securities (Cost $126,679,478)				121,620,787
U.S. TREASURY OBLIGATIONS — 23.7%
U.S. Treasury Note
3.875%, 03/31/25		35,000,000		34,346,484
3.750%, 04/15/26		35,000,000		34,018,359
Total U.S. Treasury Obligations (Cost $70,155,550)				68,364,843
CORPORATE OBLIGATIONS — 20.5%
Consumer Discretionary — 1.6%
AutoZone
4.500%, 02/01/28		5,000,000		4,727,570
Financials — 7.7%
Capital One Financial
4.200%, 10/29/25		10,000,000		9,482,529
Charles Schwab
5.643%, SOFRRATE + 2.210%, 05/19/29 (B)		5,000,000		4,813,239
Fifth Third Bancorp
6.361%, SOFRINDX + 2.192%, 10/27/28 (B)		8,000,000		7,786,327
				22,082,095
Industrials — 4.7%
AerCap Ireland Capital DAC
1.750%, 01/30/26		5,000,000		4,496,126
1.750%, 10/29/24		1,000,000		954,833
Delta Air Lines
7.000%, 05/01/25 (A)		5,000,000		5,021,326

Description	Face Amount		Value
Penske Truck Leasing
5.750%, 05/24/26 (A)	$	3,000,000	$	2,951,024
				13,423,309
Information Technology — 5.6%
Kyndryl Holdings
2.050%, 10/15/26		8,000,000		6,972,407
Molex Electronic Technologies
3.900%, 04/15/25 (A)		9,675,000		9,263,546
				16,235,953
Real Estate — 0.9%
Corporate Office Properties
2.250%, 03/15/26 ‡		3,000,000		2,712,829
Total Corporate Obligations (Cost $63,039,138)				59,181,756
U.S. GOVERNMENT AGENCY OBLIGATIONS — 8.9%
FFCB
5.480%, 10/25/27		5,000,000		4,958,244
FHLMC
5.375%, 11/15/24		5,000,000		4,974,808
5.150%, 10/17/24		3,800,000		3,777,064
5.000%, 07/26/24		5,000,000		4,973,041
FNMA
5.030%, 04/10/24		7,000,000		6,978,558
Total U.S. Government Agency Obligations (Cost $25,800,000)				25,661,715
MORTGAGE-BACKED SECURITIES — 2.3%
Commercial Mortgage-Backed Obligation — 2.3%
Benchmark Mortgage Trust, Ser 2020-B19, Cl A2
1.691%, 09/15/53		1,305,000		1,154,445
Cold Storage Trust, Ser 2020-ICE5, Cl A
6.351%, TSFR1M + 1.014%, 11/15/37 (A)(B)		5,406,448		5,346,242
Total Mortgage-Backed Securities (Cost $6,747,683)				6,500,687
REPURCHASE AGREEMENT(C) — 2.1%
Tri Party Overnight 5.150%, dated 10/31/23, to be repurchased on 11/01/23, repurchase price $6,000,858 (collateralized by various Government Obligations, ranging in par value $5,570,496 - $15,318,585, 0.050% - 2.500%, 10/15/33 - 05/20/53, with a total market value of $6,181,234)		6,000,000		6,000,000
Total Repurchase Agreement (Cost $6,000,000)				6,000,000
Total Investments — 99.5% (Cost $298,421,849)			$	287,329,788

Percentages are based on Net Assets of $ 288,668,437.

15

‡ Real Estate Investment Trust

(A) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” The total value of such securities at October 31, 2023 was $122,246,154 and represents 42.3% of Net Assets.

(B) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

(C) Tri-Party Repurchase Agreement.

See “Glossary” for abbreviations.

FIA-QH-001-3200

16

Description	Face Amount		Value
MUNICIPAL BONDS — 96.1%
California — 2.9%
California State, Municipal Finance Authority, Ser A, RB
5.000%, 03/01/25(A)	$	410,000	$	403,569
California State, School Finance Authority, RB
5.350%, 08/01/24(A)		100,000		100,277
Mount Diablo Unified School District, Ser A, GO
4.000%, 08/01/31		100,000		101,690
				605,536
Colorado — 2.4%
El Paso County, School District No. 49 Falcon, Ser B, COP
5.000%, 12/15/26		500,000		516,232
Florida — 2.6%
City of Fort Lauderdale Florida, GO
5.000%, 07/01/35		500,000		541,072
Idaho — 1.5%
Idaho State, Housing & Finance Association, RB
4.000%, 07/01/26(A)		320,000		309,929
Kansas — 4.8%
Geary County, GO
5.000%, 09/01/25		1,000,000		1,017,459
Michigan — 4.7%
Taylor, Brownfield Redevelopment Authority, RB, NATL
4.000%, 05/01/28		1,000,000		999,767
Minnesota — 0.7%
Minnesota State, Housing Finance Agency, Ser A, RB, GNMA
2.600%, 09/01/42		185,347		154,422
Ohio — 0.7%
City of Medina Ohio, GO
4.000%, 12/01/32		140,000		140,436
Oklahoma — 4.8%
University of Oklahoma, Ser C, RB
5.000%, 07/01/35		1,000,000		1,012,001
South Carolina — 6.0%
Hilton Head Island, Ser C, GO, ST AID WITHHLDG
2.250%, 03/01/33		530,000		430,806
2.125%, 03/01/32		520,000		424,139
2.000%, 03/01/30		495,000		417,439
				1,272,384
Texas — 65.0%
Azle Independent School District, GO, PSF-GTD
4.000%, 02/15/47		500,000		419,912
Board of Regents of the University of Texas System, Ser A, RB
2.000%, 08/15/36		1,000,000		700,499
Bruceville-Eddy Independent School District, GO, PSF-GTD
4.000%, 08/15/31		500,000		493,515

Description	Face Amount		Value
Central Texas Turnpike System, Sub-Ser C, RB
5.000%, 08/15/42	$	1,000,000	$	943,774
City of Longview Texas, GO
4.000%, 09/01/35		500,000		473,876
Clifton, Higher Education Finance, RB, PSF-GTD
5.000%, 08/15/25		700,000		703,815
Clifton, Higher Education Finance, Ser A, RB
3.375%, 12/01/24		530,000		518,361
Clifton, Higher Education Finance, Ser B, RB
5.000%, 08/15/25		460,000		462,156
Crandall Independent School District, GO, PSF-GTD
4.000%, 08/15/48		500,000		420,302
Cypress-Fairbanks Independent School District, Ser A, GO, PSF-GTD
5.000%, 02/15/30		1,000,000		1,061,019
El Paso County, Hospital District, GO
5.000%, 08/15/25		1,070,000		1,073,559
La Vernia, Higher Education Finance, Ser A, RB
4.200%, 08/15/25(A)(B)		225,000		225,077
Liberty Hill Independent School District, GO, PSF-GTD
5.000%, 02/01/49		700,000		702,131
Liberty Hill Independent School District, Ser A, GO, PSF-GTD
5.000%, 02/01/41		500,000		515,061
Lower Colorado River Authority, RB
5.000%, 05/15/39		1,000,000		1,004,643
Main Street Market Square Redevelopment Authority, TA, BAM
5.000%, 09/01/25		1,000,000		1,010,588
Main Street Market Square Redevelopment Authority, TA, BAM
5.000%, 09/01/29		1,000,000		1,019,625
New Braunfels Independent School District, Ser B, GO, PSF-GTD
4.375%, 02/01/40		500,000		467,823
Plainview Independent School District, Ser A, GO, PSF-GTD
5.000%, 02/15/46		525,000		529,290
Pottsboro Independent School District, GO, PSF-GTD
5.000%, 02/15/47		500,000		505,413
Seminole, Hospital District, GO
4.000%, 02/15/31		545,000		452,384
				13,702,823
Total Municipal Bonds (Cost $21,851,435)				20,272,061
Total Investments — 96.1% (Cost $21,851,435)			$	20,272,061

Percentages are based on Net Assets of $ 21,085,215.

17

(A) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” The total value of such securities at October 31, 2023 was $1,038,852 and represents 4.9% of Net Assets.

(B) Escrowed to Maturity

See “Glossary” for abbreviations.

FIA-QH-001-3200

18

Portfolio Abbreviations

ABS — Asset-Backed Security

BAM — Build America Mutual

Cl — Class

CLO — Collateralized Loan Obligation

COP — Certificate of Participation

FFCB — Fed

FHLB — Federal Home Loan Bank

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GNMA — Government National Mortgage Association

GO — General Obligation

ICE — Intercontinental Exchange

IO — Interest Only - face amount represents notional amount

LLC — Limited Liability Company

MTN — Medium Term Note

NATL — National Public Finance Guaranty Corporation

PIK — Payment-in-Kind

PSF-GTD — Texas Public School Fund Guarantee

RB — Revenue Bond

Ser — Series

SOFR — Secured Overnight Financing Rate

STRIPS — Separately Traded Registered Interest and Principal Securities

TA — Tax Allocation

19