Calvert Fund NPORT-P Calvert Ultra-Short Duration Income Fund (Dec 2019 report)

Calvert

Ultra-Short Duration Income Fund

December 31, 2019

Schedule of Investments (Unaudited)

Asset-Backed Securities — 27.1%

Security	Principal Amount (000’s omitted)		Value
Automobile — 11.2%
Avis Budget Rental Car Funding AESOP, LLC:
Series2014-2A, Class A, 2.50%, 2/20/21(1)	$	6,528	$	6,528,580
Series2015-1A, Class A, 2.50%, 7/20/21(1)		4,593		4,598,722
Series2015-1A, Class B, 3.22%, 7/20/21(1)		6,300		6,317,656
Chesapeake Funding II, LLC:
Series2017-3A, Class A2, 2.08%, (1 mo. USD LIBOR + 0.34%), 8/15/29(1)(2)		2,316		2,315,457
Series2017-4A, Class A1, 2.12%, 11/15/29(1)		3,292		3,292,941
Credit Acceptance Auto Loan Trust:
Series2017-1A, Class A, 2.56%, 10/15/25(1)		576		575,721
Series2017-1A, Class B, 3.04%, 12/15/25(1)		6,060		6,071,366
Series2017-2A, Class A, 2.55%, 2/17/26(1)		6,462		6,469,577
Series2018-1A, Class A, 3.01%, 2/16/27(1)		12,564		12,612,806
Enterprise Fleet Financing, LLC:
Series2016-2, Class A3, 2.04%, 2/22/22(1)		4,499		4,497,624
Series2017-1, Class A2, 2.13%, 7/20/22(1)		692		691,604
Series2017-3, Class A2, 2.13%, 5/22/23(1)		4,257		4,255,946
Series2019-2, Class A1, 2.267%, 8/20/20(1)		749		749,507
Hertz Fleet Lease Funding, L.P.:
Series2017-1, Class A1, 2.365%, (1 mo. USD LIBOR + 0.65%), 4/10/31(1)(2)		10,857		10,860,544
Series2017-1, Class A2, 2.13%, 4/10/31(1)		7,763		7,791,452
Series2018-1, Class A1, 2.215%, (1 mo. USD LIBOR + 0.50%), 5/10/32(1)(2)		8,208		8,214,194
OneMain Direct Auto Receivables Trust, Series2017-2A, Class A, 2.31%, 12/14/21(1)		1,070		1,069,937
OSCAR US Funding X, LLC, Series2019-1A, Class A2, 3.10%, 4/11/22(1)		1,849		1,858,316
Tesla Auto Lease Trust:
Series2018-A, Class B, 2.75%, 2/20/20(1)		29		28,646
Series2018-B, Class A, 3.71%, 8/20/21(1)		3,567		3,613,552
Series2019-A, Class A1, 2.005%, 12/18/20(1)		8,642		8,644,262
Series2019-A, Class A2, 2.13%, 4/20/22(1)		10,000		9,998,384
			$	111,056,794
Consumer Loan — 14.4%
Avant Loans Funding Trust:
Series2018-B, Class A, 3.42%, 1/18/22(1)	$	2,123	$	2,127,453
Series2019-A, Class A, 3.48%, 7/15/22(1)		1,645		1,651,462
Series2019-B, Class A, 2.72%, 10/15/26(1)		14,981		14,996,671
Conn’s Receivables Funding, LLC:
Series2018-A, Class A, 3.25%, 1/15/23(1)		937		940,350
Series2018-A, Class B, 4.65%, 1/15/23(1)		2,384		2,397,655
Series2019-A, Class A, 3.40%, 10/16/23(1)		1,690		1,703,540
Series2019-B, Class A, 2.66%, 6/17/24(1)		8,527		8,541,605
Series2019-B, Class B, 3.62%, 6/17/24(1)		2,180		2,182,934
Consumer Loan Underlying Bond Credit Trust:
Series2017-NP2, Class C, 4.87%, 1/16/24(1)		2,561		2,570,873

1

Security	Principal Amount (000’s omitted)		Value
Series2017-P1, Class B, 3.56%, 9/15/23(1)	$	102	$	102,447
Series2017-P2, Class A, 2.61%, 1/15/24(1)		174		173,685
Series2019-P1, Class A, 2.94%, 7/15/26(1)		4,688		4,711,387
Series2019-P2, Class A, 2.47%, 10/15/26(1)		11,055		11,062,252
Marlette Funding Trust, Series2019-2A, Class A, 3.13%, 7/16/29(1)		2,575		2,592,397
OneMain Financial Issuance Trust:
Series2016-1A, Class A, 3.66%, 2/20/29(1)		5,445		5,456,291
Series2016-1A, Class B, 4.57%, 2/20/29(1)		3,035		3,055,826
Series2017-1A, Class A1, 2.37%, 9/14/32(1)		11,648		11,647,811
Series2017-1A, Class A2, 2.54%, (1 mo. USD LIBOR + 0.80%), 9/14/32(1)(2)		5,639		5,643,309
Oportun Funding VIII, LLC, Series2018-A, Class B, 4.45%, 3/8/24(1)		4,580		4,635,621
Prosper Marketplace Issuance Trust:
Series2018-1A, Class B, 3.90%, 6/17/24(1)		2,414		2,418,585
Series2018-2A, Class A, 3.35%, 10/15/24(1)		2,528		2,533,416
Series2019-1A, Class A, 3.54%, 4/15/25(1)		2,411		2,419,540
SoFi Consumer Loan Program, LLC:
Series2017-5, Class A2, 2.78%, 9/25/26(1)		8,305		8,336,437
Series2017-6, Class A2, 2.82%, 11/25/26(1)		7,410		7,435,721
Series2018-3, Class A1, 3.20%, 8/25/27(1)		2,705		2,709,555
Springleaf Funding Trust:
Series2015-BA, Class A, 3.48%, 5/15/28(1)		4,240		4,250,812
Series2016-AA, Class A, 2.90%, 11/15/29(1)		7,217		7,220,479
Series2017-AA, Class A, 2.68%, 7/15/30(1)		11,057		11,065,686
Verizon Owner Trust:
Series2016-2A, Class A, 1.68%, 5/20/21(1)		245		245,182
Series2016-2A, Class B, 2.15%, 5/20/21(1)		6,345		6,345,084
Series2017-1A, Class A, 2.06%, 9/20/21(1)		537		536,717
Series2017-2A, Class A, 1.92%, 12/20/21(1)		1,576		1,576,294
			$	143,287,077
Equipment — 0.3%
Dell Equipment Finance Trust, Series2017-2, Class A3, 2.19%, 10/24/22(1)	$	543	$	543,325
HPEFS Equipment Trust, Series2019-1A, Class A1, 2.15%, 10/9/20(1)		2,244		2,247,584
			$	2,790,909
Small Business Loan — 0.6%
Small Business Lending Trust, Series2019-A, Class A, 2.85%, 7/15/26(1)	$	5,986	$	5,987,710
Student Loan — 0.1%
SoFi Professional Loan Program, LLC:
Series2015-A, Class A1, 2.992%, (1 mo. USD LIBOR + 1.20%), 3/25/33(1)(2)	$	343	$	343,768
Series2016-B, Class A1, 2.992%, (1 mo. USD LIBOR + 1.20%), 6/25/33(1)(2)		173		173,853
			$	517,621
Whole Business — 0.5%
Coinstar Funding, LLC, Series2017-1A, Class A2, 5.216%, 4/25/47(1)	$	4,695	$	4,818,768
FOCUS Brands Funding, LLC, Series2017-1A, Class A2I, 3.857%, 4/30/47(1)		390		391,956
			$	5,210,724
Total Asset-Backed Securities (identified cost $268,405,215)			$	268,850,835

2

Collateralized Mortgage-Backed Obligations — 12.3%
Security	Principal Amount (000’s omitted)		Value
Federal Home Loan Mortgage Corp.:
Series 4030, Class PA, 3.50%, 6/15/40	$	847	$	858,806
Series 4423, Class A, 3.50%, 10/15/39		829		831,247
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes:
Series 2017-DNA3, Class M2, 4.292%, (1 mo. USD LIBOR + 2.50%), 3/25/30(2)		4,500		4,609,370
Series 2017-HQA1, Class M1, 2.992%, (1 mo. USD LIBOR + 1.20%), 8/25/29(2)		882		884,051
Series 2018-DNA1, Class M2, 3.592%, (1 mo. USD LIBOR + 1.80%), 7/25/30(2)		4,345		4,357,392
Series 2018-DNA1, Class M2AT, 2.842%, (1 mo. USD LIBOR + 1.05%), 7/25/30(2)		5,655		5,649,029
Series 2018-HQA2, Class M1, 2.542%, (1 mo. USD LIBOR + 0.75%), 10/25/48(1)(2)		5,200		5,211,038
Series 2018-SPI2, Class M1, 3.813%, 5/25/48(1)(3)		645		649,188
Series 2019-DNA1, Class M1, 2.692%, (1 mo. USD LIBOR + 0.90%), 1/25/49(1)(2)		1,827		1,830,762
Series 2019-DNA3, Class M1, 2.522%, (1 mo. USD LIBOR + 0.73%), 7/25/49(1)(2)		2,772		2,775,379
Series 2019-DNA3, Class M2, 3.842%, (1 mo. USD LIBOR + 2.05%), 7/25/49(1)(2)		5,411		5,441,078
Series 2019-DNA4, Class M1, 2.492%, (1 mo. USD LIBOR + 0.70%), 10/25/49(1)(2)		2,384		2,385,898
Series 2019-HQA2, Class M1, 2.492%, (1 mo. USD LIBOR + 0.70%), 4/25/49(1)(2)		636		636,341
Series 2019-HQA2, Class M2, 3.842%, (1 mo. USD LIBOR + 2.05%), 4/25/49(1)(2)		2,830		2,843,528
Series 2019-HQA3, Class M1, 2.542%, (1 mo. USD LIBOR + 0.75%), 9/25/49(1)(2)		577		577,365
Series 2019-HQA4, Class M1, 2.562%, (1 mo. USD LIBOR + 0.77%), 11/25/49(1)(2)		6,500		6,508,119
Federal National Mortgage Association Connecticut Avenue Securities:
Series2014-C01, Class M2, 6.192%, (1 mo. USD LIBOR + 4.40%), 1/25/24(2)		2,031		2,212,011
Series2014-C02, Class 1M2, 4.392%, (1 mo. USD LIBOR + 2.60%), 5/25/24(2)		9,176		9,598,430
Series2014-C02, Class 2M2, 4.392%, (1 mo. USD LIBOR + 2.60%), 5/25/24(2)		3,409		3,542,091
Series2014-C03, Class 1M2, 4.792%, (1 mo. USD LIBOR + 3.00%), 7/25/24(2)		6,552		6,903,159
Series2014-C03, Class 2M2, 4.692%, (1 mo. USD LIBOR + 2.90%), 7/25/24(2)		7,437		7,767,069
Series2014-C04, Class 1M2, 6.692%, (1 mo. USD LIBOR + 4.90%), 11/25/24(2)		16,632		18,309,780
Series2017-C04, Class 2M1, 2.642%, (1 mo. USD LIBOR + 0.85%), 11/25/29(2)		712		712,802
Series2017-C05, Class 1M1, 2.342%, (1 mo. USD LIBOR + 0.55%), 1/25/30(2)		157		157,532
Series2017-C05, Class 1M2, 3.992%, (1 mo. USD LIBOR + 2.20%), 1/25/30(2)		5,000		5,092,011
Series2018-C01, Class 1M1, 2.392%, (1 mo. USD LIBOR + 0.60%), 7/25/30(2)		579		579,503
Series2018-C06, Class 2M1, 2.342%, (1 mo. USD LIBOR + 0.55%), 3/25/31(2)		330		330,638
Series2018-R07, Class 1M2, 4.192%, (1 mo. USD LIBOR + 2.40%), 4/25/31(1)(2)		1,328		1,341,262
Series2019-R02, Class 1M2, 4.092%, (1 mo. USD LIBOR + 2.30%), 8/25/31(1)(2)		8,940		9,012,359
Series2019-R05, Class 1M1, 2.542%, (1 mo. USD LIBOR + 0.75%), 7/25/39(1)(2)		2,193		2,195,455
Series2019-R06, Class 2M1, 2.542%, (1 mo. USD LIBOR + 0.75%), 9/25/39(1)(2)		5,070		5,076,941
RESIMAC Bastille Trust, Series 2018-1NCA, Class A1, 2.554%, (1 mo. USD LIBOR + 0.85%), 12/5/59(1)(2)		3,350		3,348,473
Total Collateralized Mortgage-Backed Obligations (identified cost $122,469,697)			$	122,228,107
Commercial Mortgage-Backed Securities — 5.3%
Security	Principal Amount (000’s omitted)		Value
BBCMS Trust, Series2018-RRI, Class A, 2.44%, (1 mo. USD LIBOR + 0.70%), 2/15/33(1)(2)	$	7,786	$	7,743,981
BX Commercial Mortgage Trust, Series2019-XL, Class A, 2.66%, (1 mo. USD LIBOR + 0.92%), 10/15/36(1)(2)		5,295		5,305,683

3

Security	Principal Amount (000’s omitted)		Value
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2014-DSTY, Class A, 3.429%, 6/10/27(1)	$	6,322	$	6,340,496
Morgan Stanley Capital I Trust:
Series2017-CLS, Class A, 2.44%, (1 mo. USD LIBOR + 0.70%), 11/15/34(1)(2)		6,950		6,939,026
Series2019-BPR, Class A, 3.14%, (1 mo. USD LIBOR + 1.40%), 5/15/36(1)(2)		3,030		3,027,756
Motel 6 Trust:
Series 2017-MTL6, Class A, 2.66%, (1 mo. USD LIBOR + 0.92%), 8/15/34(1)(2)		7,531		7,541,793
Series 2017-MTL6, Class B, 2.93%, (1 mo. USD LIBOR + 1.19%), 8/15/34(1)(2)		1,757		1,759,103
Series 2017-MTL6, Class C, 3.14%, (1 mo. USD LIBOR + 1.40%), 8/15/34(1)(2)		5,589		5,594,731
RETL Trust, Series2019-RVP, Class A, 2.89%, (1 mo. USD LIBOR + 1.15%), 3/15/36(1)(2)		8,479		8,493,465
Total Commercial Mortgage-Backed Securities (identified cost $52,701,980)			$	52,746,034
Corporate Bonds — 33.2%
Security	Principal Amount (000’s omitted)		Value
Communications — 1.4%
Comcast Corp., 2.538%, (3 mo. USD LIBOR + 0.44%), 10/1/21(2)	$	4,784	$	4,808,779
Sprint Spectrum Co., LLC / Sprint Spectrum Co. II, LLC / Sprint Spectrum Co. III, LLC, 3.36%, 9/20/21(1)		438		441,941
Verizon Communications, Inc., 2.894%, (3 mo. USD LIBOR + 1.00%), 3/16/22(2)		8,132		8,270,490
			$	13,521,210
Consumer, Cyclical — 5.8%
American Airlines Pass-Through Trust:
5.60%, 7/15/20(1)	$	7,752	$	7,880,500
5.625%, 1/15/21(1)		6,264		6,382,964
Daimler Finance North America, LLC, 2.452%, (3 mo. USD LIBOR + 0.55%), 5/4/21(1)(2)		5,000		5,007,757
Ford Motor Credit Co., LLC:
2.677%, (3 mo. USD LIBOR + 0.79%), 6/12/20(2)		19,690		19,703,012
2.853%, (3 mo. USD LIBOR + 0.81%), 4/5/21(2)		900		896,024
2.865%, (3 mo. USD LIBOR + 0.93%), 9/24/20(2)		1,785		1,787,741
2.881%, (3 mo. USD LIBOR + 0.88%), 10/12/21(2)		3,140		3,113,919
Hyundai Capital America, 2.967%, (3 mo. USD LIBOR + 0.94%), 7/8/21(1)(2)		2,970		2,978,293
Marriott International, Inc.:
2.535%, (3 mo. USD LIBOR + 0.65%), 3/8/21(2)		4,949		4,968,391
Series Y, 2.507%, (3 mo. USD LIBOR + 0.60%), 12/1/20(2)		4,950		4,966,896
			$	57,685,497
Consumer,Non-cyclical — 6.9%
AbbVie, Inc., 2.245%, (3 mo. USD LIBOR + 0.35%), 5/21/21(1)(2)	$	9,000	$	9,011,182
Becton Dickinson and Co., 2.836%, (3 mo. USD LIBOR + 0.875%), 12/29/20(2)		17,942		17,951,122
Campbell Soup Co., 2.524%, (3 mo. USD LIBOR + 0.63%), 3/15/21(2)		10,000		10,023,373
Conagra Brands, Inc., 2.703%, (3 mo. USD LIBOR + 0.75%), 10/22/20(2)		7,850		7,850,808
CVS Health Corp., 2.605%, (3 mo. USD LIBOR + 0.72%), 3/9/21(2)		11,460		11,532,952
Kraft Heinz Foods Co.:
2.471%, (3 mo. USD LIBOR + 0.57%), 2/10/21(2)		9,120		9,135,050

4

Security	Principal Amount (000’s omitted)		Value
2.721%, (3 mo. USD LIBOR + 0.82%), 8/10/22(2)	$	3,000	$	3,010,445
			$	68,514,932
Financial — 16.1%
Ally Financial, Inc., 4.125%, 3/30/20	$	3,724	$	3,742,397
Athene Global Funding:
3.106%, (3 mo. USD LIBOR + 1.14%), 4/20/20(1)(2)		4,450		4,462,436
3.318%, (3 mo. USD LIBOR + 1.23%), 7/1/22(1)(2)		8,800		8,921,358
Banco Santander SA, 3.00%, (3 mo. USD LIBOR + 1.09%), 2/23/23(2)		3,330		3,353,074
Bank of America Corp.:
2.314%, (3 mo. USD LIBOR + 0.38%), 1/23/22(2)(4)		2,733		2,736,641
2.626%, (3 mo. USD LIBOR + 0.66%), 7/21/21(2)		7,950		7,970,561
2.748%, (3 mo. USD LIBOR + 0.65%), 10/1/21(2)		4,500		4,513,309
3.146%, (3 mo. USD LIBOR + 1.18%), 10/21/22(2)		4,000		4,059,514
Bank of America NA, 2.256%, (3 mo. USD LIBOR + 0.32%), 7/26/21(2)		10,650		10,641,882
Canadian Imperial Bank of Commerce, 2.341%, (SOFR + 0.80%), 3/17/23(2)		5,000		5,018,645
Capital One Financial Corp., 2.656%, (3 mo. USD LIBOR + 0.72%), 1/30/23(2)		7,084		7,095,348
Capital One NA:
2.724%, (3 mo. USD LIBOR + 0.82%), 8/8/22(2)		4,380		4,414,187
3.086%, (3 mo. USD LIBOR + 1.15%), 1/30/23(2)		5,430		5,492,983
Citibank NA, 2.504%, (3 mo. USD LIBOR + 0.57%), 7/23/21(2)		10,000		10,045,132
Citigroup, Inc.:
2.425%, (SOFR + 0.87%), 11/4/22(2)		10,000		10,052,685
2.955%, (3 mo. USD LIBOR + 1.07%), 12/8/21(2)		6,900		6,993,827
3.092%, (3 mo. USD LIBOR + 1.19%), 8/2/21(2)		3,465		3,512,580
Credit Agricole Corporate & Investment Bank SA, 2.713%, (3 mo. USD LIBOR + 0.625%), 10/3/21(2)		3,474		3,483,902
Marsh & McLennan Cos., Inc., 3.161%, (3 mo. USD LIBOR + 1.20%), 12/29/21(2)		1,342		1,343,272
Morgan Stanley:
2.372%, (SOFR + 0.83%), 6/10/22(2)		7,000		7,042,405
2.451%, (3 mo. USD LIBOR + 0.55%), 2/10/21(2)		11,877		11,882,912
PNC Bank NA, 2.315%, (3 mo. USD LIBOR + 0.43%), 12/9/22(2)		15,000		15,019,922
Synchrony Bank, 2.586%, (3 mo. USD LIBOR + 0.625%), 3/30/20(2)		2,800		2,802,277
Synchrony Financial, 3.132%, (3 mo. USD LIBOR + 1.23%), 2/3/20(2)		15,154		15,166,100
			$	159,767,349
Industrial — 0.9%
Westinghouse Air Brake Technologies Corp., 3.194%, (3 mo. USD LIBOR + 1.30%), 9/15/21(2)	$	8,896	$	8,897,395
Technology — 2.1%
Dell International, LLC/EMC Corp., 5.875%, 6/15/21(1)	$	2,823	$	2,870,652
EMC Corp., 2.65%, 6/1/20		737		738,054
Hewlett Packard Enterprise Co.:
2.567%, (3 mo. USD LIBOR + 0.68%), 3/12/21(2)		3,011		3,022,732
2.763%, (3 mo. USD LIBOR + 0.72%), 10/5/21(2)		14,312		14,313,966
			$	20,945,404
Total Corporate Bonds (identified cost $328,369,254)			$	329,331,787

5

Floating Rate Loans — 1.9%(5)
Security	Principal Amount (000’s omitted)		Value
Cable and Satellite Television — 0.2%
Ziggo Secured Finance Partnership, Term Loan, 4.24%, (1 mo. USD LIBOR + 2.50%), 4/15/25	$	2,060	$	2,064,722
Electronics/Electrical — 0.3%
Go Daddy Operating Company, LLC, Term Loan, 3.549%, (1 mo. USD LIBOR + 1.75%), 2/15/24	$	1,855	$	1,867,120
SS&C Technologies, Inc., Term Loan, 4.049%, (1 mo. USD LIBOR + 2.25%), 4/16/25		785		790,798
SS&C Technologies Holdings Europe S.a.r.l., Term Loan, 4.049%, (1 mo. USD LIBOR + 2.25%), 4/16/25		534		537,740
			$	3,195,658
Equipment Leasing — 0.2%
Avolon TLB Borrower 1 (US), LLC, Term Loan, 3.515%, (1 mo. USD LIBOR + 1.75%), 1/15/25	$	2,346	$	2,364,043
Industrial Equipment — 0.2%
Clark Equipment Company, Term Loan, 3.695%, (3 mo. USD LIBOR + 1.75%), 5/18/24	$	1,514	$	1,522,892
Telecommunications — 1.0%
CenturyLink, Inc., Term Loan, 1/31/25(6)	$	500	$	502,639
Sprint Communications, Inc., Term Loan, 4.313%, (1 mo. USD LIBOR + 2.50%), 2/2/24		9,035		8,975,400
			$	9,478,039
Total Floating Rate Loans (identified cost $18,606,267)			$	18,625,354
Sovereign Government Bonds — 2.0%
Security	Principal Amount (000’s omitted)		Value
Kreditanstalt fuer Wiederaufbau, 1.875%, 11/30/20	$	20,126	$	20,152,626
Total Sovereign Government Bonds (identified cost $20,154,874)			$	20,152,626
Taxable Municipal Obligations — 1.2%
Security	Principal Amount (000’s omitted)		Value
Special Tax Revenue — 1.1%
California Health Facilities Financing Authority, (No Place Like Home Program), 1.896%, 6/1/21	$	11,000	$	10,998,240

6

Security	Principal Amount (000’s omitted)		Value
Water and Sewer — 0.1%
San Francisco City and County Public Utilities Commission, CA, Water Revenue, Green Bonds, 1.814%, 11/1/20(7)	$	570	$	570,086
Total Taxable Municipal Obligations (identified cost $11,570,000)			$	11,568,326
U.S. Treasury Obligations — 1.8%
Security	Principal Amount (000’s omitted)		Value
U.S. Treasury Inflation-Protected Notes:
0.125%, 4/15/20(8)	$	9,890	$	9,877,725
1.125%, 1/15/21(8)		7,764		7,836,028
Total U.S. Treasury Obligations (identified cost $17,721,330)			$	17,713,753
Short-Term Investments — 13.5%
Commercial Paper — 13.5%
Security	Principal Amount (000’s omitted)		Value
Avangrid, Inc., 1.955%, 2/7/20(1)(9)	$	15,000	$	14,967,273
CNH Industrial Capital, LLC, 2.323%, 1/7/20(1)(9)		10,000		9,996,471
DXC Capital Funding, Ltd., 2.292%, 2/27/20(1)(9)		10,250		10,214,974
Enel Finance America, LLC, 2.273%, 1/14/20(1)(9)		15,000		14,988,853
Ford Motor Credit Co., LLC, 3.082%, 11/4/20(1)(9)		7,500		7,305,845
Jabil, Inc.:
2.236%, 1/9/20(1)(9)		12,180		12,172,107
2.27%, 2/6/20(1)(9)		12,180		12,147,978
Sherwin-Williams Co. (The), 2.132%, 1/6/20(1)(9)		11,500		11,497,012
Smithfield Foods, Inc.:
2.337%, 1/21/20(1)(9)		15,000		14,979,621
2.357%, 1/30/20(1)(9)		10,000		9,978,875
Washington Gas Light Co., 2.035%, 2/4/20		10,750		10,732,619
WGL Holdings, Inc., 2.083%, 1/2/20(1)(9)		5,000		4,999,504
Total Commercial Paper (identified cost $133,993,797)			$	133,981,132

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Securities Lending Collateral — 0.00%(10)
Security	Shares		Value
State Street Navigator Securities Lending Government Money Market Portfolio, 1.56%(11)		187,005	$	187,005
Total Securities Lending Collateral (identified cost $187,005)			$	187,005
Total Short-Term Investments (identified cost $134,180,802 )			$	134,168,137
Total Investments (identified cost $974,179,419) — 98.3%			$	975,384,959
Other Assets, Less Liabilities — 1.7%			$	16,507,590
Net Assets — 100.0%			$	991,892,549

The percentage shown for each investment category in the Schedule of Investments is based on net assets.

Notes to Schedule of Investments

(1) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. Total market value of Rule 144A securities amounts to $542,635,651, which represents 54.7% of the net assets of the Fund as of December 31, 2019.

(2) Variable rate security. The stated interest rate represents the rate in effect at December 31, 2019.

(3) Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at December 31, 2019.

(4) All or a portion of this security was on loan at December 31, 2019. The aggregate market value of securities on loan at December 31, 2019 was $182,242 and the total market value of the collateral received by the Fund was $187,005, comprised of cash.

(5) Remaining maturities of floating rate loans may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty. Floating rate loans generally pay interest at rates which are periodicallyre-determined at a margin above the London InterBank Offered Rate (“LIBOR”) or other short-term rates. The rate shown is the rate in effect at December 31, 2019. Floating rate loans are generally considered restrictive in that the Fund is ordinarily contractually obligated to receive consent from the Agent Bank and/or Borrower prior to disposition of a floating rate loan.

(6) This Senior Loan will settle after December 31, 2019, at which time the interest rate will be determined.

(7) When-issued security.

(8) Inflation-linked security whose principal is adjusted for inflation based on changes in the U.S. Consumer Price Index. Interest is calculated based on the inflation-adjusted principal.

(9) Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration only to dealers in that program or other “accredited investors”. At December 31, 2019, the aggregate value of these securities is $123,248,513, representing 12.4% of the Fund’s net assets.

(10) Amount is less than 0.05%.

(11) Represents investment of cash collateral received in connection with securities lending.

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Abbreviations:

LIBOR	-	London Interbank Offered Rate
SOFR	-	Secured Overnight Financing Rate

Currency Abbreviations:

USD - United States Dollar

U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 — quoted prices in active markets for identical securities

• Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes the market value of the Fund’s holdings as of December 31, 2019, based on the inputs used to value them:

Asset Description	Level 1		Level 2		Level 3		Total
Asset-Backed Securities	$	—	$	268,850,835	$	—	$	268,850,835
Collateralized Mortgage-Backed Obligations		—		122,228,107		—		122,228,107
Commercial Mortgage-Backed Securities		—		52,746,034		—		52,746,034
Corporate Bonds		—		329,331,787		—		329,331,787
Floating Rate Loans		—		18,625,354		—		18,625,354
Sovereign Government Bonds		—		20,152,626		—		20,152,626
Taxable Municipal Obligations		—		11,568,326		—		11,568,326
U.S. Treasury Obligations		—		17,713,753		—		17,713,753
Short-Term Investments
Commercial Paper		—		133,981,132		—		133,981,132
Securities Lending Collateral		187,005		—		—		187,005
Total Investments	$	187,005	$	975,197,954	$	—	$	975,384,959

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

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