Loomis Sayles Growth Fund (LSGRX) NPORT-P Loomis Sayles Credit Income Fund (Jun 2023 report)

PORTFOLIO OF INVESTMENTS – as of June 30, 2023 (Unaudited)

Loomis Sayles Credit Income Fund

Principal Amount		Description	Value (†)
	Bonds and Notes – 85.4% of Net Assets
	Non-Convertible Bonds – 80.7%
		Aerospace & Defense – 0.9%
	$  20,000	Boeing Co., 2.950%, 2/01/2030	$	17,383
	20,000	Boeing Co., 5.150%, 5/01/2030		19,807
	20,000	Huntington Ingalls Industries, Inc., 4.200%, 5/01/2030		18,532
	125,000	Textron, Inc., 3.000%, 6/01/2030		108,958
	20,000	TransDigm, Inc., 6.250%, 3/15/2026, 144A		19,902
	10,000	TransDigm, Inc., 6.750%, 8/15/2028, 144A		10,038
				194,620
		Airlines – 0.6%
	66,193	American Airlines Pass-Through Trust, Series 2016-3, Class A, 3.250%, 4/15/2030		56,003
	10,275	United Airlines Pass-Through Trust, Series 2020-1, Class B, 4.875%, 7/15/2027		9,854
	55,000	United Airlines Pass-Through Trust, Series 2023-1, 5.800%, 7/15/2037		56,039
				121,896
		Apartment REITs – 0.0%
	10,000	American Homes 4 Rent LP, 2.375%, 7/15/2031		7,940
		Automotive – 1.2%
	60,000	Allison Transmission, Inc., 3.750%, 1/30/2031, 144A		50,686
	70,000	General Motors Co., 5.200%, 4/01/2045		59,712
	40,000	General Motors Co., 6.250%, 10/02/2043		39,116
	5,000	General Motors Financial Co., Inc., 3.100%, 1/12/2032		4,044
	5,000	General Motors Financial Co., Inc., 5.850%, 4/06/2030		4,957
	90,000	General Motors Financial Co., Inc., 6.000%, 1/09/2028		90,721
	5,000	General Motors Financial Co., Inc., Series C, (fixed rate to 9/30/2030, variable rate thereafter), 5.700%(a)		4,389
				253,625
		Banking – 12.8%
	40,000	Ally Financial, Inc., 2.200%, 11/02/2028		31,925
	65,000	Ally Financial, Inc., Series B, (fixed rate to 5/15/2026, variable rate thereafter), 4.700%(a)		45,825

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Banking – continued
	$  50,000	Ally Financial, Inc., Series C, (fixed rate to 5/15/2028, variable rate thereafter), 4.700%(a)	$	32,250
	30,000	Bank of America Corp., (fixed rate to 4/25/2033, variable rate thereafter), 5.288%, 4/25/2034		29,721
	270,000	Bank of America Corp., MTN, 4.250%, 10/22/2026		260,603
	200,000	Barclays PLC, (fixed rate to 5/09/2033, variable rate thereafter), 6.224%, 5/09/2034		199,207
	200,000	Barclays PLC, (fixed rate to 9/23/2030, variable rate thereafter), 3.564%, 9/23/2035		158,262
	215,000	Citigroup, Inc., 4.450%, 9/29/2027		205,288
	250,000	Credit Agricole SA, (fixed rate to 1/10/2028, variable rate thereafter), 4.000%, 1/10/2033, 144A		222,577
	150,000	Deutsche Bank AG, (fixed rate to 9/18/2030, variable rate thereafter), 3.547%, 9/18/2031		124,577
	390,000	Morgan Stanley, 3.625%, 1/20/2027		370,309
	50,000	Morgan Stanley, (fixed rate to 1/19/2033, variable rate thereafter), 5.948%, 1/19/2038		49,352
	80,000	Morgan Stanley, (fixed rate to 1/21/2027, variable rate thereafter), 2.475%, 1/21/2028		72,195
	200,000	NatWest Group PLC, (fixed rate to 6/14/2026, variable rate thereafter), 1.642%, 6/14/2027		176,008
	115,000	Santander Holdings USA, Inc., 3.244%, 10/05/2026		103,540
	200,000	Societe Generale SA, (fixed rate to 7/08/2030, variable rate thereafter), 3.653%, 7/08/2035, 144A		160,439
	200,000	Standard Chartered PLC, (fixed rate to 4/01/2030, variable rate thereafter), 4.644%, 4/01/2031, 144A		184,467
	250,000	UBS Group AG, (fixed rate to 8/12/2032, variable rate thereafter), 6.537%, 8/12/2033, 144A		255,857
				2,682,402
		Brokerage – 0.9%
	15,000	Jefferies Financial Group, Inc., 6.250%, 1/15/2036		15,299
	180,000	Jefferies Financial Group, Inc., 6.500%, 1/20/2043		180,086
				195,385
		Building Materials – 1.0%
	260,000	Cemex SAB de CV, 3.875%, 7/11/2031, 144A		218,895
		Cable Satellite – 5.0%
	125,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.250%, 2/01/2031, 144A		100,981
	120,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.500%, 8/15/2030, 144A		99,923
	35,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.750%, 2/01/2032, 144A		28,542

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Cable Satellite – continued
	$  25,000	CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/01/2027, 144A	$	23,281
	10,000	CCO Holdings LLC/CCO Holdings Capital Corp., 5.500%, 5/01/2026, 144A		9,750
	5,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 2.300%, 2/01/2032		3,785
	20,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 2.800%, 4/01/2031		16,093
	90,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 3.950%, 6/30/2062		55,371
	5,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 4.400%, 4/01/2033		4,389
	150,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 4.800%, 3/01/2050		113,175
	200,000	CSC Holdings LLC, 4.625%, 12/01/2030, 144A		88,987
	200,000	CSC Holdings LLC, 5.000%, 11/15/2031, 144A		93,142
	15,000	Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875%, 8/15/2027, 144A		13,585
	175,000	DISH DBS Corp., 5.125%, 6/01/2029		81,261
	175,000	DISH DBS Corp., 5.250%, 12/01/2026, 144A		140,380
	45,000	DISH DBS Corp., 5.750%, 12/01/2028, 144A		33,470
	200,000	Time Warner Cable LLC, 4.500%, 9/15/2042		149,598
				1,055,713
		Chemicals – 1.5%
	15,000	Celanese U.S. Holdings LLC, 6.330%, 7/15/2029		14,897
	10,000	Celanese U.S. Holdings LLC, 6.379%, 7/15/2032		10,087
	70,000	CF Industries, Inc., 4.500%, 12/01/2026, 144A		67,513
	15,000	FMC Corp., 3.450%, 10/01/2029		13,122
	60,000	Hercules LLC, 6.500%, 6/30/2029		55,583
	200,000	Orbia Advance Corp. SAB de CV, 2.875%, 5/11/2031, 144A		158,074
				319,276
		Construction Machinery – 0.7%
	90,000	Caterpillar Financial Services Corp., MTN, 0.950%, 1/10/2024		87,878

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Construction Machinery – continued
	$  20,000	John Deere Capital Corp., MTN, 0.900%, 1/10/2024	$	19,515
	35,000	John Deere Capital Corp., MTN, 1.250%, 1/10/2025		32,984
				140,377
		Consumer Cyclical Services – 2.6%
	10,000	Expedia Group, Inc., 2.950%, 3/15/2031		8,427
	195,000	Expedia Group, Inc., 3.250%, 2/15/2030		169,718
	50,000	Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.500%, 3/01/2029, 144A		42,842
	325,000	Uber Technologies, Inc., 4.500%, 8/15/2029, 144A		299,130
	25,000	Uber Technologies, Inc., 7.500%, 9/15/2027, 144A		25,571
				545,688
		Electric – 0.7%
	15,000	AES Corp., 2.450%, 1/15/2031		12,124
	5,000	AES Corp., 3.950%, 7/15/2030, 144A		4,482
	60,000	Calpine Corp., 3.750%, 3/01/2031, 144A		48,606
	20,000	IPALCO Enterprises, Inc., 4.250%, 5/01/2030		18,095
	35,000	NRG Energy, Inc., 4.450%, 6/15/2029, 144A		30,935
	15,000	Pacific Gas & Electric Co., 5.450%, 6/15/2027		14,588
	20,000	Vistra Operations Co. LLC, 3.700%, 1/30/2027, 144A		18,315
				147,145
		Finance Companies – 6.8%
	150,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.875%, 1/23/2028		137,906
	20,000	Air Lease Corp., 3.125%, 12/01/2030		16,661
	60,000	Air Lease Corp., MTN, 3.000%, 2/01/2030		50,173
	40,000	Air Lease Corp., Series B, (fixed rate to 6/15/2026, variable rate thereafter), 4.650%(a)		33,382
	125,000	Aircastle Ltd., 4.125%, 5/01/2024		121,632
	15,000	Aircastle Ltd., Series A (fixed rate to 6/15/2026, variable rate thereafter), 5.250%, 144A(a)		10,469
	40,000	Ares Capital Corp., 2.875%, 6/15/2028		33,079

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Finance Companies – continued
	$  60,000	Ares Capital Corp., 3.200%, 11/15/2031	$	45,994
	35,000	Aviation Capital Group LLC, 1.950%, 1/30/2026, 144A		31,173
	35,000	Aviation Capital Group LLC, 6.250%, 4/15/2028, 144A		34,896
	30,000	Aviation Capital Group LLC, 6.375%, 7/15/2030, 144A		29,749
	30,000	Barings BDC, Inc., 3.300%, 11/23/2026		26,134
	115,000	Blackstone Secured Lending Fund, 2.125%, 2/15/2027		97,097
	20,000	FS KKR Capital Corp., 3.125%, 10/12/2028		16,281
	55,000	GATX Corp., 5.450%, 9/15/2033		54,114
	75,000	Hercules Capital, Inc., 3.375%, 1/20/2027		64,970
	60,000	Navient Corp., 5.000%, 3/15/2027		53,677
	30,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		25,882
	5,000	OneMain Finance Corp., 3.500%, 1/15/2027		4,290
	10,000	OneMain Finance Corp., 5.375%, 11/15/2029		8,502
	10,000	OneMain Finance Corp., 7.125%, 3/15/2026		9,825
	50,000	Owl Rock Capital Corp., 2.625%, 1/15/2027		42,443
	70,000	Owl Rock Capital Corp., 2.875%, 6/11/2028		57,037
	60,000	Owl Rock Technology Finance Corp., 2.500%, 1/15/2027		49,667
	140,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.875%, 10/15/2026, 144A		123,900
	75,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/01/2029, 144A		63,035
	160,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/01/2031, 144A		129,737
	60,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 4.000%, 10/15/2033, 144A		46,934
				1,418,639
		Financial Other – 0.8%
	30,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/01/2029		23,571
	120,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.250%, 5/15/2027		103,488
	35,000	Nationstar Mortgage Holdings, Inc., 5.750%, 11/15/2031, 144A		28,751

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Financial Other – continued
	$200,000	Times China Holdings Ltd., 6.200%, 3/22/2026(f)	$	13,263
				169,073
		Food & Beverage – 1.5%
	30,000	Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, 5.250%, 4/27/2029, 144A		27,706
	20,000	JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.000%, 2/02/2029, 144A		16,960
	10,000	Pilgrim’s Pride Corp., 3.500%, 3/01/2032		7,906
	10,000	Pilgrim’s Pride Corp., 4.250%, 4/15/2031		8,575
	50,000	Pilgrim’s Pride Corp., 5.875%, 9/30/2027, 144A		49,400
	60,000	Post Holdings, Inc., 4.625%, 4/15/2030, 144A		52,582
	190,000	Smithfield Foods, Inc., 3.000%, 10/15/2030, 144A		148,971
				312,100
		Gaming – 0.9%
	20,000	GLP Capital LP/GLP Financing II, Inc., 3.250%, 1/15/2032		16,148
	55,000	Scientific Games International, Inc., 7.000%, 5/15/2028, 144A		54,707
	5,000	Scientific Games International, Inc., 7.250%, 11/15/2029, 144A		5,006
	85,000	VICI Properties LP/VICI Note Co., Inc., 3.875%, 2/15/2029, 144A		74,593
	20,000	VICI Properties LP/VICI Note Co., Inc., 4.250%, 12/01/2026, 144A		18,710
	5,000	VICI Properties LP/VICI Note Co., Inc., 4.500%, 9/01/2026, 144A		4,724
	5,000	VICI Properties LP/VICI Note Co., Inc., 4.625%, 6/15/2025, 144A		4,831
	10,000	VICI Properties LP/VICI Note Co., Inc., 5.625%, 5/01/2024, 144A		9,938
				188,657
		Government Sponsored – 0.2%
	35,000	Petrobras Global Finance BV, 6.500%, 7/03/2033		34,248
		Health Insurance – 0.7%
	90,000	Centene Corp., 2.500%, 3/01/2031		71,772
	35,000	Centene Corp., 2.625%, 8/01/2031		27,891
	20,000	Centene Corp., 3.000%, 10/15/2030		16,666

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Health Insurance – continued
	$    5,000	Centene Corp., 4.625%, 12/15/2029	$	4,602
	25,000	Molina Healthcare, Inc., 3.875%, 5/15/2032, 144A		20,959
				141,890
		Healthcare – 1.5%
	75,000	Cigna Group, 4.375%, 10/15/2028		72,521
	10,000	CVS Health Corp., 5.250%, 1/30/2031		9,969
	84,398	CVS Pass-Through Trust, Series 2014, 4.163%, 8/11/2036, 144A		72,813
	5,000	Encompass Health Corp., 4.750%, 2/01/2030		4,553
	165,000	HCA, Inc., 4.125%, 6/15/2029		152,689
				312,545
		Home Construction – 0.5%
	75,000	MDC Holdings, Inc., 3.966%, 8/06/2061		44,752
	60,000	PulteGroup, Inc., 6.000%, 2/15/2035		60,664
				105,416
		Independent Energy – 3.4%
	150,000	Aker BP ASA, 4.000%, 1/15/2031, 144A		133,396
	147,000	Continental Resources, Inc., 2.875%, 4/01/2032, 144A		112,941
	103,000	Continental Resources, Inc., 5.750%, 1/15/2031, 144A		97,918
	20,000	Diamondback Energy, Inc., 3.125%, 3/24/2031		17,131
	25,000	Energean Israel Finance Ltd., 5.375%, 3/30/2028, 144A		22,562
	40,000	Energean Israel Finance Ltd., 5.875%, 3/30/2031, 144A		34,950
	10,000	EQT Corp., 3.125%, 5/15/2026, 144A		9,194
	30,000	EQT Corp., 3.625%, 5/15/2031, 144A		25,803
	45,000	EQT Corp., 3.900%, 10/01/2027		41,603
	10,000	EQT Corp., 5.000%, 1/15/2029		9,415
	10,000	EQT Corp., 5.700%, 4/01/2028		9,870
	60,000	EQT Corp., 7.000%, 2/01/2030		62,822

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Independent Energy – continued
	$  10,000	Matador Resources Co., 6.875%, 4/15/2028, 144A	$	9,898
	30,000	Occidental Petroleum Corp., 5.550%, 3/15/2026		29,617
	5,000	Occidental Petroleum Corp., 8.875%, 7/15/2030		5,747
	45,000	Ovintiv Exploration, Inc., 5.375%, 1/01/2026		44,694
	50,000	Ovintiv, Inc., 6.500%, 8/15/2034		50,108
	5,000	Southwestern Energy Co., 4.750%, 2/01/2032		4,407
				722,076
		Industrial Other – 0.1%
	20,000	TopBuild Corp., 4.125%, 2/15/2032, 144A		17,038
		Leisure – 1.3%
	40,000	Carnival Corp., 5.750%, 3/01/2027, 144A		36,824
	30,000	Carnival Corp., 6.000%, 5/01/2029, 144A		26,785
	50,000	Carnival Corp., 9.875%, 8/01/2027, 144A		52,082
	30,000	NCL Corp. Ltd., 5.875%, 3/15/2026, 144A		28,067
	25,000	NCL Corp. Ltd., 5.875%, 2/15/2027, 144A		24,308
	10,000	NCL Finance Ltd., 6.125%, 3/15/2028, 144A		9,000
	60,000	Royal Caribbean Cruises Ltd., 5.500%, 4/01/2028, 144A		55,952
	35,000	VOC Escrow Ltd., 5.000%, 2/15/2028, 144A		32,113
				265,131
		Life Insurance – 1.0%
	50,000	Athene Global Funding, 1.608%, 6/29/2026, 144A		42,761
	55,000	Athene Global Funding, 1.716%, 1/07/2025, 144A		50,897
	95,000	Athene Global Funding, 2.550%, 11/19/2030, 144A		73,551
	30,000	Athene Holding Ltd., 3.500%, 1/15/2031		24,788
	30,000	CNO Financial Group, Inc., 5.250%, 5/30/2029		28,380
				220,377

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Lodging – 1.3%
	$  60,000	Hilton Domestic Operating Co., Inc., 3.625%, 2/15/2032, 144A	$	50,024
	40,000	Hilton Domestic Operating Co., Inc., 4.000%, 5/01/2031, 144A		34,735
	10,000	Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, 4.875%, 7/01/2031, 144A		8,390
	25,000	Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, 5.000%, 6/01/2029, 144A		22,186
	25,000	Marriott International, Inc., Series FF, 4.625%, 6/15/2030		23,937
	20,000	Marriott International, Inc., Series HH, 2.850%, 4/15/2031		16,816
	20,000	Marriott Ownership Resorts, Inc., 4.500%, 6/15/2029, 144A		17,261
	45,000	Travel & Leisure Co., 4.500%, 12/01/2029, 144A		38,287
	70,000	Travel & Leisure Co., 4.625%, 3/01/2030, 144A		59,238
				270,874
		Media Entertainment – 1.7%
	85,000	iHeartCommunications, Inc., 4.750%, 1/15/2028, 144A		64,080
	90,000	iHeartCommunications, Inc., 5.250%, 8/15/2027, 144A		68,823
	135,000	Netflix, Inc., 4.875%, 6/15/2030, 144A		132,853
	5,000	Netflix, Inc., 5.375%, 11/15/2029, 144A		5,018
	5,000	Netflix, Inc., 5.875%, 11/15/2028		5,164
	15,000	Netflix, Inc., 6.375%, 5/15/2029		15,870
	15,000	Warnermedia Holdings, Inc., 4.054%, 3/15/2029		13,712
	60,000	Warnermedia Holdings, Inc., 4.279%, 3/15/2032		53,213
				358,733
		Metals & Mining – 3.4%
	200,000	Anglo American Capital PLC, 4.500%, 3/15/2028, 144A		190,605
	50,000	ArcelorMittal SA, 6.800%, 11/29/2032		51,333
	20,000	ArcelorMittal SA, 7.000%, 10/15/2039		20,877
	25,000	ATI, Inc., 5.875%, 12/01/2027		24,194
	200,000	First Quantum Minerals Ltd., 6.875%, 10/15/2027, 144A		195,100

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Metals & Mining – continued
	$  45,000	FMG Resources August 2006 Pty. Ltd., 4.375%, 4/01/2031, 144A	$	38,422
	10,000	Freeport-McMoRan, Inc., 4.250%, 3/01/2030		9,215
	10,000	Freeport-McMoRan, Inc., 4.625%, 8/01/2030		9,422
	135,000	Glencore Funding LLC, 3.875%, 10/27/2027, 144A		126,071
	15,000	Glencore Funding LLC, 5.700%, 5/08/2033, 144A		14,883
	35,000	Novelis Corp., 4.750%, 1/30/2030, 144A		31,105
	10,000	Volcan Cia Minera SAA, 4.375%, 2/11/2026, 144A		7,437
				718,664
		Midstream – 3.1%
	15,000	Cheniere Energy Partners LP, 3.250%, 1/31/2032		12,340
	75,000	Cheniere Energy Partners LP, 4.000%, 3/01/2031		66,037
	5,000	Cheniere Energy Partners LP, 4.500%, 10/01/2029		4,589
	25,000	Cheniere Energy Partners LP, 5.950%, 6/30/2033, 144A		25,073
	55,000	DCP Midstream Operating LP, 3.250%, 2/15/2032		46,551
	10,000	DCP Midstream Operating LP, 5.125%, 5/15/2029		9,782
	65,000	Enbridge, Inc., 5.700%, 3/08/2033		65,893
	55,000	Energy Transfer LP, 4.000%, 10/01/2027		51,502
	35,000	Energy Transfer LP, 5.750%, 2/15/2033		35,229
	5,000	EnLink Midstream LLC, 6.500%, 9/01/2030, 144A		4,994
	30,000	EnLink Midstream Partners LP, 5.450%, 6/01/2047		24,660
	35,000	EQM Midstream Partners LP, 5.500%, 7/15/2028		33,118
	15,000	Hess Midstream Operations LP, 4.250%, 2/15/2030, 144A		13,087
	15,000	Hess Midstream Operations LP, 5.625%, 2/15/2026, 144A		14,756
	80,000	NGPL PipeCo LLC, 4.875%, 8/15/2027, 144A		75,809
	15,000	Plains All American Pipeline LP/PAA Finance Corp., 3.800%, 9/15/2030		13,309
	10,000	Plains All American Pipeline LP/PAA Finance Corp., 4.300%, 1/31/2043		7,473

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Midstream – continued
	$  25,000	Targa Resources Corp., 6.125%, 3/15/2033	$	25,545
	15,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.000%, 1/15/2032		13,009
	5,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.875%, 2/01/2031		4,621
	45,000	Venture Global Calcasieu Pass LLC, 3.875%, 11/01/2033, 144A		36,850
	20,000	Venture Global Calcasieu Pass LLC, 4.125%, 8/15/2031, 144A		17,199
	10,000	Western Midstream Operating LP, 4.300%, 2/01/2030		8,978
	20,000	Western Midstream Operating LP, 5.300%, 3/01/2048		16,694
	5,000	Western Midstream Operating LP, 5.450%, 4/01/2044		4,224
	10,000	Western Midstream Operating LP, 5.500%, 2/01/2050		8,191
	5,000	Western Midstream Operating LP, 6.150%, 4/01/2033		5,039
				644,552
		Office REITs – 0.0%
	10,000	Corporate Office Properties LP, 2.750%, 4/15/2031		7,598
		Other REITs – 0.1%
	15,000	EPR Properties, 3.600%, 11/15/2031		11,698
		Paper – 0.2%
	45,000	Suzano Austria GmbH, 3.750%, 1/15/2031		38,404
		Pharmaceuticals – 1.9%
	45,000	Astrazeneca Finance LLC, 4.875%, 3/03/2028		44,974
	65,000	Bausch Health Cos., Inc., 4.875%, 6/01/2028, 144A		38,688
	55,000	Bausch Health Cos., Inc., 5.000%, 1/30/2028, 144A		23,375
	5,000	Bausch Health Cos., Inc., 7.000%, 1/15/2028, 144A		2,162
	50,000	Teva Pharmaceutical Finance Co. LLC, 6.150%, 2/01/2036		44,433
	85,000	Teva Pharmaceutical Finance Netherlands III BV, 3.150%, 10/01/2026		76,164
	250,000	Teva Pharmaceutical Finance Netherlands III BV, 4.100%, 10/01/2046		164,332
				394,128

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Property & Casualty Insurance – 1.3%
	$175,000	Fidelity National Financial, Inc., 2.450%, 3/15/2031	$	137,071
	40,000	HUB International Ltd., 7.250%, 6/15/2030, 144A		41,304
	65,000	SiriusPoint Ltd., 4.600%, 11/01/2026, 144A		53,995
	55,000	Stewart Information Services Corp., 3.600%, 11/15/2031		42,228
				274,598
		Restaurants – 0.7%
	125,000	1011778 BC ULC/New Red Finance, Inc., 4.375%, 1/15/2028, 144A		115,397
	45,000	Yum! Brands, Inc., 4.625%, 1/31/2032		40,650
				156,047
		Retail REITs – 0.8%
	115,000	Brixmor Operating Partnership LP, 4.050%, 7/01/2030		103,657
	75,000	SITE Centers Corp., 3.625%, 2/01/2025		70,578
				174,235
		Retailers – 0.3%
	65,000	Lithia Motors, Inc., 3.875%, 6/01/2029, 144A		56,649
	10,000	Tapestry, Inc., 3.050%, 3/15/2032		7,986
				64,635
		Technology – 7.1%
	15,000	Arrow Electronics, Inc., 6.125%, 3/01/2026		14,964
	20,000	Broadcom, Inc., 3.137%, 11/15/2035, 144A		15,341
	30,000	Broadcom, Inc., 4.150%, 11/15/2030		27,602
	55,000	Broadcom, Inc., 4.300%, 11/15/2032		50,450
	10,000	CDW LLC/CDW Finance Corp., 2.670%, 12/01/2026		8,979
	10,000	CDW LLC/CDW Finance Corp., 3.250%, 2/15/2029		8,568
	35,000	CDW LLC/CDW Finance Corp., 3.276%, 12/01/2028		30,409
	110,000	CDW LLC/CDW Finance Corp., 3.569%, 12/01/2031		92,820
	20,000	CDW LLC/CDW Finance Corp., 4.250%, 4/01/2028		18,343
	130,000	CommScope Technologies LLC, 5.000%, 3/15/2027, 144A		90,489

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Technology – continued
	$  60,000	CommScope, Inc., 4.750%, 9/01/2029, 144A	$	47,304
	65,000	Entegris Escrow Corp., 4.750%, 4/15/2029, 144A		60,341
	5,000	Everi Holdings, Inc., 5.000%, 7/15/2029, 144A		4,379
	35,000	Flex Ltd., 6.000%, 1/15/2028		35,545
	5,000	Gartner, Inc., 3.625%, 6/15/2029, 144A		4,402
	25,000	Global Payments, Inc., 2.900%, 5/15/2030		21,189
	25,000	Global Payments, Inc., 2.900%, 11/15/2031		20,338
	15,000	Global Payments, Inc., 5.300%, 8/15/2029		14,614
	30,000	Global Payments, Inc., 5.400%, 8/15/2032		29,233
	60,000	Iron Mountain, Inc., 5.250%, 7/15/2030, 144A		54,063
	35,000	Jabil, Inc., 1.700%, 4/15/2026		31,316
	35,000	Leidos, Inc., 5.750%, 3/15/2033		34,771
	30,000	Marvell Technology, Inc., 2.450%, 4/15/2028		26,192
	25,000	Marvell Technology, Inc., 2.950%, 4/15/2031		20,957
	265,000	Micron Technology, Inc., 4.663%, 2/15/2030		249,882
	65,000	Micron Technology, Inc., 5.875%, 9/15/2033		64,411
	25,000	MSCI, Inc., 3.250%, 8/15/2033, 144A		20,134
	5,000	NXP BV/NXP Funding LLC/NXP USA, Inc., 4.400%, 6/01/2027		4,833
	15,000	Open Text Corp., 6.900%, 12/01/2027, 144A		15,270
	60,000	Oracle Corp., 3.950%, 3/25/2051		45,367
	30,000	Oracle Corp., 6.150%, 11/09/2029		31,247
	55,000	S&P Global, Inc., 4.250%, 5/01/2029		53,452
	60,000	TD SYNNEX Corp., 1.750%, 8/09/2026		52,294
	50,000	Trimble, Inc., 6.100%, 3/15/2033		50,662
	35,000	Verisk Analytics, Inc., 4.125%, 3/15/2029		33,410
	20,000	Verisk Analytics, Inc., 5.750%, 4/01/2033		20,938

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Non-Convertible Bonds – continued
		Technology – continued
	$  35,000	VMware, Inc., 2.200%, 8/15/2031	$	27,503
	30,000	Western Digital Corp., 2.850%, 2/01/2029		23,969
	30,000	Western Digital Corp., 4.750%, 2/15/2026		28,576
				1,484,557
		Transportation Services – 0.5%
	45,000	ERAC USA Finance LLC, 4.900%, 5/01/2033, 144A		43,972
	60,000	Rand Parent LLC, 8.500%, 2/15/2030, 144A		54,326
				98,298
		Treasuries – 8.4%
	135,000	U.S. Treasury Bonds, 1.125%, 8/15/2040		86,801
	255,000	U.S. Treasury Bonds, 1.875%, 2/15/2051		168,848
	155,000	U.S. Treasury Bonds, 2.250%, 2/15/2052		112,012
	415,000	U.S. Treasury Bonds, 3.250%, 5/15/2042		370,322
	805,000	U.S. Treasury Notes, 0.250%, 9/30/2023		795,216
	230,000	U.S. Treasury Notes, 1.500%, 2/29/2024(b)		224,088
				1,757,287
		Wireless – 3.3%
	40,000	American Tower Corp., 5.500%, 3/15/2028		39,722
	80,000	Crown Castle, Inc., 2.500%, 7/15/2031		65,721
	40,000	Crown Castle, Inc., 5.100%, 5/01/2033		39,307
	70,000	SBA Communications Corp., 3.125%, 2/01/2029		59,336
	55,000	Sprint Capital Corp., 8.750%, 3/15/2032		66,474
	130,000	T-Mobile USA, Inc., 3.375%, 4/15/2029		117,396
	65,000	T-Mobile USA, Inc., 3.500%, 4/15/2031		57,356
	265,000	T-Mobile USA, Inc., 3.875%, 4/15/2030		244,136
				689,448
		Total Non-Convertible Bonds (Identified Cost $19,596,175)		16,933,908

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
	Convertible Bonds – 4.7%
		Airlines – 0.5%
	$  20,000	JetBlue Airways Corp., 0.500%, 4/01/2026	$	16,425
	85,000	Southwest Airlines Co., 1.250%, 5/01/2025		97,453
				113,878
		Cable Satellite – 1.0%
	45,000	DISH Network Corp., Zero Coupon, 0.000%-29.314%, 12/15/2025(c)		23,908
	350,000	DISH Network Corp., 3.375%, 8/15/2026		177,625
				201,533
		Consumer Cyclical Services – 0.3%
	5,000	Peloton Interactive, Inc., Zero Coupon, 0.798%, 2/15/2026(d)		3,792
	65,000	Uber Technologies, Inc., Zero Coupon, 0.000%-5.152%, 12/15/2025(c)		59,586
				63,378
		Electric – 0.2%
	50,000	PPL Capital Funding, Inc., 2.875%, 3/15/2028, 144A		47,750
		Gaming – 0.1%
	10,000	Penn Entertainment, Inc., 2.750%, 5/15/2026		12,390
		Healthcare – 0.5%
	140,000	Teladoc Health, Inc., 1.250%, 6/01/2027		111,300
		Independent Energy – 0.1%
	20,000	Northern Oil & Gas, Inc., 3.625%, 4/15/2029, 144A		22,304
		Leisure – 0.2%
	40,000	NCL Corp. Ltd., 1.125%, 2/15/2027		36,787
		Media Entertainment – 0.2%
	30,000	Snap, Inc., Zero Coupon, 6.709%-6.954%, 5/01/2027(c)		22,200
	25,000	Spotify USA, Inc., Zero Coupon, 5.189%-5.777%, 3/15/2026(c)		21,238
				43,438
		Pharmaceuticals – 1.1%
	195,000	BioMarin Pharmaceutical, Inc., 1.250%, 5/15/2027		196,035
	15,000	Guardant Health, Inc., Zero Coupon, 0.000%, 11/15/2027(d)		10,724

Principal Amount		Description	Value (†)
	Bonds and Notes – continued
		Convertible Bonds – continued
		Pharmaceuticals – continued
	$  40,000	Livongo Health, Inc., 0.875%, 6/01/2025	$	36,136
				242,895
		Technology – 0.5%
	5,000	Nutanix, Inc., 0.250%, 10/01/2027		4,228
	60,000	Splunk, Inc., 1.125%, 6/15/2027		51,750
	40,000	Unity Software, Inc., Zero Coupon, 7.084%-8.213%, 11/15/2026(c)		31,940
	5,000	Wolfspeed, Inc., 0.250%, 2/15/2028		3,830
	15,000	Wolfspeed, Inc., 1.875%, 12/01/2029, 144A		11,565
				103,313
		Total Convertible Bonds (Identified Cost $1,299,938)		998,966
		Total Bonds and Notes (Identified Cost $20,896,113)		17,932,874
	Collateralized Loan Obligations – 3.3%
	250,000	AIMCO CLO 14 Ltd., Series 2021-14A, Class D, 3 mo. USD LIBOR + 2.900%, 8.150%, 4/20/2034, 144A(e)		231,648
	250,000	Fillmore Park CLO Ltd., Series 2018-1A, Class D, 3 mo. USD LIBOR + 2.900%, 8.160%, 7/15/2030, 144A(e)		232,653
	250,000	Recette CLO Ltd., Series 2015-1A, Class DRR, 3 mo. USD LIBOR + 3.250%, 8.500%, 4/20/2034, 144A(e)		227,634
		Total Collateralized Loan Obligations (Identified Cost $750,000)		691,935
Shares
	Preferred Stocks – 1.1%
	Convertible Preferred Stocks - 1.1%
		Banking – 1.0%
	97	Bank of America Corp., Series L, 7.250%		113,666
	83	Wells Fargo & Co., Series L, Class A, 7.500%		95,616
				209,282
		Technology – 0.1%
	273	Clarivate PLC, Series A, 5.250%		11,207
		Total Preferred Stocks (Identified Cost $281,607)		220,489

Principal Amount		Description	Value (†)
	Short-Term Investments – 9.2%
	$563,810	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/2023 at 2.300% to be repurchased at $563,918 on 7/03/2023 collateralized by $665,200 U.S. Treasury Note, 0.500% due 5/31/2027 valued at $575,151 including accrued interest(g)	$	563,810
	325,000	U.S. Treasury Bills, 5.115%, 12/14/2023(h)		317,266
	325,000	U.S. Treasury Bills, 5.140%, 10/17/2023(h)		320,014
	425,000	U.S. Treasury Bills, 5.201%, 10/24/2023(h)		418,050
	325,000	U.S. Treasury Bills, 5.231%, 12/28/2023(h)		316,586
		Total Short-Term Investments (Identified Cost $1,935,572)		1,935,726
		Total Investments – 99.0% (Identified Cost $23,863,292)		20,781,024
		Other assets less liabilities – 1.0%		205,358
		Net Assets – 100.0%	$	20,986,382

(†) Registered investment companies are required to value portfolio investments using an unadjusted, readily available market quotation. The Fund obtains readily available market quotations from independent pricing services. Fund investments for which readily available market quotations are not available are priced at fair value pursuant to the Fund’s Valuation Procedures. The Board of Trustees has approved a valuation designee who is subject to the Board’s oversight.

Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of closed-end investment companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most extensively. Futures contracts are valued at the closing settlement price on the exchange on which the valuation designee believes that, over time, they are traded most extensively. Shares of open-end investment companies are valued at net asset value per share.

Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation as reported by an independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be fair valued using evaluated bids furnished by an independent pricing service, if available.

Debt securities and unlisted preferred equity securities are fair valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Senior loans and collateralized loan obligations are fair valued at bid prices supplied by an independent pricing service, if available. Broker-dealer bid prices may be used to fair value debt, unlisted equities, senior loans and collateralized loan obligations where an independent pricing service is unable to price an investment or where an independent pricing service does not provide a reliable price for the investment.

The Fund may also fair value investments in other circumstances such as when extraordinary events occur after the close of a foreign market, but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing a Fund’s investments, the valuation designee may, among other things, use modeling tools or other processes that may take into account factors such as issuer specific information, or other related market activity and/or information that occurred after the close of the foreign market but before the time the Fund’s net asset value (“NAV”) is calculated. Fair valuation by the Fund’s valuation designee may require subjective determinations about the value of the investment, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of investments held by a Fund.

The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period.

(a) Perpetual bond with no specified maturity date.

(b) Security (or a portion thereof) has been pledged as collateral for open derivative contracts.

(c) Interest rate represents annualized yield at time of purchase; not a coupon rate. The Fund’s investment in this security is comprised of various lots with differing annualized yields.

(d) Interest rate represents annualized yield at time of purchase; not a coupon rate.

(e) Variable rate security. Rate as of June 30, 2023 is disclosed.

(f) The issuer is in default with respect to interest and/or principal payments. Income is not being accrued.

(g) The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund’s policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund’s ability to dispose of the underlying securities. As of June 30, 2023, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.

(h) Interest rate represents discount rate at time of purchase; not a coupon rate.

144A	All or a portion of these securities are 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. At June 30, 2023, the value of Rule 144A holdings amounted to $7,214,385 or 34.4% of net assets.
LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
REITs	Real Estate Investment Trusts

Futures Contracts

The Fund may enter into futures contracts. Futures contracts are agreements between two parties to buy and sell a particular instrument or index for a specified price on a specified future date.

When the Fund enters into a futures contract, it is required to deposit with (or for the benefit of) its broker an amount of cash or short-term high-quality securities as “initial margin.” As the value of the contract changes, the value of the futures contract position increases or declines. Subsequent payments, known as “variation margin,” are made or received by the Fund, depending on the price fluctuations in the fair value of the contract and the value of cash or securities on deposit with the broker. Realized gain or loss on a futures position is equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, minus brokerage commissions. When the Fund enters into a futures contract certain risks may arise, such as illiquidity in the futures market, which may limit the Fund’s ability to close out a futures contract prior to settlement date, and unanticipated movements in the value of securities or interest rates.

Futures contracts are exchange-traded. Exchange-traded futures contracts are standardized and are settled through a clearing house with fulfillment supported by the credit of the exchange. Therefore, counterparty credit risks to the Fund are reduced; however, in the event that a counterparty enters into bankruptcy, the Fund’s claim against initial/variation margin on deposit with the counterparty may be subject to terms of a final settlement in bankruptcy court.

At June 30, 2023, open long futures contracts were as follows:

Financial Futures	Expiration Date		Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
CBOT 2 Year U.S. Treasury Notes Futures		9/29/2023		7	$	1,439,797	$	1,423,406	$	(16,391	)
CBOT 10 Year U.S. Treasury Notes Futures		9/20/2023		5		567,901		561,328		(6,573	)
CBOT 5 Year U.S. Treasury Notes Futures		9/29/2023		3		325,910		321,281		(4,629	)
CBOT U.S. Long Bond Futures		9/20/2023		24		3,031,649		3,045,750		14,101
CME Ultra Long Term U.S. Treasury Bond Futures		9/20/2023		6		803,739		817,312		13,573
Total									$	81

At June 30, 2023, open short futures contracts were as follows:

Financial Futures	Expiration Date		Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Ultra 10 Year U.S. Treasury Notes Futures		9/20/2023		9	$	1,071,645	$	1,065,937	$	5,708

Fair Value Measurements

In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted prices in active markets for identical assets or liabilities;

• Level 2 – prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

• Level 3 – prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

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

The Fund’s pricing policies have been approved by the Board of Trustees. Investments for which market quotations are readily available are categorized in Level 1. Other investments for which an independent pricing service is utilized are categorized in Level 2. Broker-dealer bid prices for which the Fund has knowledge of the inputs used by the broker-dealer are categorized in Level 2. All other investments, including broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer, as well as investments fair valued by the valuation designee, are categorized in Level 3. All Level 2 and 3 securities are defined as being fair valued.

Under certain conditions and based upon specific facts and circumstances, the Fund’s valuation designee may determine that a fair valuation should be made for portfolio investment(s). These valuation designee fair valuations will be based upon a significant amount of Level 3 inputs.

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2023, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Bonds and Notes*	$	—	$	17,932,874	$	—	$	17,932,874
Collateralized Loan Obligations		—		691,935		—		691,935
Preferred Stocks*		220,489		—		—		220,489
Short-Term Investmentss		—		1,935,726		—		1,935,726
Total Investments	$	220,489	$	20,560,535	$	—	$	20,781,024
Futures Contracts (unrealized appreciation)		33,382		—		—		33,382
Total	$	253,871	$	20,560,535	$	—	$	20,814,406

Liability Valuation Inputs

Description	Level 1			Level 2		Level 3		Total
Futures Contracts (unrealized depreciation)	$	(27,593	)	$	—	$	—	$	(27,593	)

* Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Derivatives

Derivative instruments are defined as financial instruments whose value and performance are based on the value and performance of an underlying asset, reference rate or index. Derivative instruments that the Fund used at period end include futures contracts.

The Fund is subject to the risk that changes in interest rates will affect the value of the Fund’s investments in fixed income securities. The Fund will be subject to increased interest rate risk to the extent that it invests in fixed-income securities with longer maturities or durations, as compared to investing in fixed-income securities with shorter maturities or durations. The Fund may use futures contracts to hedge against changes in interest rates and to manage duration without having to buy or sell portfolio securities. The Fund may use futures contracts to gain investment exposure. As of June 30, 2023, the Fund used futures contracts to manage duration.

The following is a summary of derivative instruments for the Fund, as of June 30, 2023:

Assets	Unrealized appreciation on futures contracts
Exchange-traded asset derivatives
Interest rate contracts	$	33,382

Liabilities	Unrealized depreciation on futures contracts
Exchange-traded liability derivatives
Interest rate contracts	$	(27,593	)

The Fund’s derivatives do not qualify for hedge accounting under authoritative guidance for derivative instruments. The Fund’s investments in derivatives may represent an economic hedge; however, they are considered to be non-hedge transactions for the purpose of this disclosure.

Counterparty risk is managed based on policies and procedures established by each Fund’s adviser. Such policies and procedures may include, but are not limited to, minimum counterparty credit rating requirements, monitoring of counterparty credit default swap spreads and posting of collateral. With exchange-traded derivatives, there is minimal counterparty credit risk to the Fund because the exchange’s clearing house, as counterparty to these instruments, stands between the buyer and the seller of the contract. Credit risk still exists in exchange-traded derivatives with respect to initial and variation margin that is held in a broker’s customer accounts. While brokers typically are required to segregate customer margin for exchange-traded derivatives from their own assets, in the event that a broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the broker for all its customers, U.S. bankruptcy laws will typically allocate that shortfall on a pro rata basis across all of the broker’s customers, potentially resulting in losses to the Fund.

Industry Summary at June 30, 2023 (Unaudited)

Banking	13.8	%
Treasuries	8.4
Technology	7.7
Finance Companies	6.8
Cable Satellite	6.0
Independent Energy	3.5
Metals & Mining	3.4
Wireless	3.3
Midstream	3.1
Pharmaceuticals	3.0
Consumer Cyclical Services	2.9
Healthcare	2.0
Other Investments, less than 2% each	22.6
Short-Term Investments	9.2
Collateralized Loan Obligations	3.3
Total Investments	99.0
Other assets less liabilities (including futures contracts)	1.0
Net Assets	100.0	%