Financial Investors Trust NPORTP ALPS | Smith Total Return Bond Fund (Jul 2024 report)

Financial Investors Trust

Schedules of Investments

(Unaudited)

July 31, 2024

ALPS|CoreCommodity Management CompleteCommodities® Strategy Fund

CONSOLIDATED STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Shares		Value (Note 2)
COMMON STOCKS (0.00%)
Great Britain (0.00%)(a)
Evraz PLC^(b)(c)(d)(e)		91,946	$	1,182

TOTAL COMMON STOCKS
(Cost $708,596)				1,182

EXCHANGE TRADED FUNDS (31.62%)
United States (31.62%)
ALPS \| CoreCommodity Natural Resources ETF^(f)		12,068,297		307,922,598

TOTAL EXCHANGE TRADED FUNDS
(Cost $272,336,345)				307,922,598

	Principal Amount		Value (Note 2)
GOVERNMENT BONDS (65.14%)
U.S. Treasury Bonds (65.14%)
United States Treasury Bill
5.225%, 8/6/24	$	58,000,000	$	57,957,622
5.082%, 8/13/24^(g)		147,400,000		147,140,698
5.139%, 9/3/24^(g)		15,400,000		15,325,690
5.159%, 9/19/24^(g)		63,150,000		62,699,407
5.085%, 10/3/24		46,100,000		45,682,534
5.073%, 10/10/24^(g)		151,000,000		149,484,967
5.190%, 10/17/24^(g)		30,000,000		29,669,895
5.160%, 11/14/24^(g)		25,900,000		25,515,745
5.135%, 12/5/24^(g)		5,000,000		4,911,995
5.085%, 1/2/25^(g)		20,700,000		20,264,312
United States Treasury Inflation Indexed Bonds
0.125%, 7/15/26		60,100,000		75,613,476
				634,266,341
TOTAL GOVERNMENT BONDS
(Cost $634,251,971)				634,266,341

7-Day
Yield

Value
(Note 2)

SHORT TERM INVESTMENTS (5.33%)

Money Market Fund (5.33%)

BlackRock Liquidity Funds Treasury Trust Fund Portfolio

5.205

51,891,455

TOTAL SHORT TERM INVESTMENTS

(Cost $51,891,455)

51,891,455

	Value (Note 2)
TOTAL INVESTMENTS (102.09%)
(Cost $959,188,367)	$	994,081,576

Liabilities in Excess of Other Assets (-2.09%)		(20,324,300	)
NET ASSETS - 100.00%	$	973,757,276

^(a)

Less than 0.005%.

^(b)

Non-Income Producing Security.

^(c)

Security deemed to be illiquid under the procedures utilized by the Valuation Designee. As of July 31, 2024, the fair value of illiquid securities in the aggregate was $1,182, representing less than 0.005% of the Fund's net assets.

^(d)

Fair valued security; valued by the valuation designee in accordance with the procedures utilized by the valuation designee. As of July 31, 2024, these securities had a total value of $1,182 or less than 0.005% of total net assets.

^(e)

As a result of the use of significant unobservable inputs to determine fair value, these investments have been classified as level 3 assets. See also Note 2 to the Notes to Quarterly Statement of Investments for additional information.

^(f)

Affiliated Company. See Note 4 in Notes to Quarterly Statement of Investments.

^(g)

Security, or portion of security, is being held as collateral for total return swap contracts and futures contracts aggregating a total market value of $126,695,690.

For Fund compliance purposes, the Fund's industry and geographical classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine sub-classifications for reporting ease. Industries and regions are shown as a percent of net assets.

FUTURES CONTRACTS

Description	Counterparty	Position		Contracts		Expiration Date	Notional Value (Note 2)			Unrealized Appreciation
Brent Crude Future	Morgan Stanley		Long		694	08/30/24	$	56,102,960		$	169,001
Corn Future	Morgan Stanley		Short		(454)	09/13/24		(8,688,425	)		958,173
Corn Future	Morgan Stanley		Short		(346)	12/13/24		(6,915,675	)		1,534,434
Cotton No.2 Future	Morgan Stanley		Short		(596)	12/06/24		(20,559,020	)		3,397,282
Frzn Concentrated OJ Future	Morgan Stanley		Short		(73)	09/10/24		(4,608,855	)		159,484
Gasoline RBOB Future	Morgan Stanley		Long		19	08/30/24		1,949,115			31,146
Gasoline RBOB Future	Morgan Stanley		Short		(200)	11/29/24		(18,000,360	)		806,704
Gold 100 Oz. Future	Morgan Stanley		Long		285	12/27/24		70,480,500			555,623
Lean Hogs Future	Morgan Stanley		Long		97	08/14/24		3,580,270			115,035
Live Cattle Future	Morgan Stanley		Short		(92)	12/31/24		(6,913,800	)		63,616
LME Aluminum Future	Morgan Stanley		Short		(78)	09/16/24		(4,406,396	)		619,573
Natural Gas Future	Morgan Stanley		Short		(218)	12/27/24		(7,595,120	)		310,546
NY Harbor ULSD Future	Morgan Stanley		Long		23	08/30/24		2,355,398			2,300
NY Harbor ULSD Future	Morgan Stanley		Short		(163)	11/29/24		(16,804,876	)		1,187,730
Platinum Future	Morgan Stanley		Long		53	10/29/24		2,613,960			13,648
Soybean Future	Morgan Stanley		Short		(172)	11/14/24		(8,793,500	)		1,107,468
Sugar #11 (World) Future	Morgan Stanley		Short		(452)	09/30/24		(9,588,186	)		199,016
WTI Crude Future	Morgan Stanley		Short		(13)	08/20/24		(1,012,830	)		37,154
WTI Crude Future	Morgan Stanley		Short		(1,232)	11/20/24		(92,917,440	)		5,546,591
							$	(69,722,280	)	$	16,814,524

Description	Counterparty	Position		Contracts		Expiration Date	Notional Value (Note 2)			Unrealized Depreciation
Cocoa Future	Morgan Stanley		Short		(95)	09/13/24	$	(7,687,400	)	$	(146,979	)
Cocoa Future	Morgan Stanley		Short		(336)	12/13/24		(23,489,760	)		(1,979,868	)
Coffee 'C' Future	Morgan Stanley		Short		(62)	09/18/24		(5,328,900	)		(152,833	)
Coffee 'C' Future	Morgan Stanley		Short		(20)	12/18/24		(1,711,125	)		(248,677	)
Coffee Robusta Future	Morgan Stanley		Short		(312)	09/24/24		(13,294,320	)		(142,950	)
Copper Future	Morgan Stanley		Long		68	09/26/24		7,100,050			(537,372	)
Frzn Concentrated OJ Future	Morgan Stanley		Short		(7)	11/08/24		(437,430	)		(36,868	)
Hard Red Winter Wheat Future	Morgan Stanley		Long		560	09/13/24		15,372,000			(3,114,884	)
Live Cattle Future	Morgan Stanley		Short		(249)	10/31/24		(18,592,830	)		(158,385	)
LME Aluminum Future	Morgan Stanley		Long		64	09/16/24		3,615,504			(27,736	)
LME Lead Future	Morgan Stanley		Long		49	08/19/24		2,524,664			(191,236	)
LME Nickel Future	Morgan Stanley		Long		143	08/19/24		14,067,030			(538,741	)
LME Zinc Future	Morgan Stanley		Long		309	08/19/24		20,330,501			(2,665,829	)
Low Su Gasoil G Future	Morgan Stanley		Long		249	08/12/24		18,432,225			(1,540,257	)
Natural Gas Future	Morgan Stanley		Long		92	08/28/24		1,873,120			(139,730	)
Natural Gas Future	Morgan Stanley		Long		430	09/26/24		9,296,600			(2,994,990	)
Natural Gas Future	Morgan Stanley		Long		181	11/26/24		5,777,520			(471,375	)
Silver Future	Morgan Stanley		Long		247	09/26/24		35,738,430			(1,512,974	)
Soybean Future	Morgan Stanley		Long		590	12/13/24		14,981,280			(604,195	)
Soybean Meal Future	Morgan Stanley		Long		516	12/13/24		16,290,120			(2,012,457	)
Wheat (CBT) Future	Morgan Stanley		Long		206	09/13/24		5,430,675			(1,141,863	)
							$	100,287,954		$	(20,360,199	)

TOTAL RETURN SWAP CONTRACTS^(a)

Swap Counterparty	Reference Obligation	Notional Amount		Floating Rate/Fixed Amount Paid by Fund*	Termination Date	Value		Unrealized Appreciation
Goldman Sachs	CRB 3m Fwd TR Index^**	$	85,511,095	USB3MTA + 25 bps	9/30/2024	$	85,511,104	$	9
Citigroup	CRB 3m Fwd TR Index^**		114,396,096	USB3MTA + 24 bps	9/30/2024		114,396,102		6
Societe Generale	CRB 3m Fwd TR Index^**		90,037,936	USB3MTA + 24 bps	11/29/2024		90,037,941		5
UBS Group AG	CRB 3m Fwd TR Index^**		87,531,514	USB3MTA + 25 bps	11/29/2024		87,531,518		4
Citigroup	CRB TR Index^**		89,266,909	USB3MTA + 21 bps	10/2/2024		89,266,912		3
Goldman Sachs	CRB TR Index^**		11,887,949	USB3MTA + 20 bps	9/30/2024		11,887,952		3
RBC	CRB TR Index^**		30,876,799	USB3MTA + 21 bps	10/31/2024		30,876,802		3
Bank of America - Merrill Lynch	CRB 3m Fwd TR Index^**		94,531,157	USB3MTA + 25 bps	7/1/2025		94,531,158		1
Bank Of America - Merrill Lynch	CRB TR Index^**		26,349,716	USB3MTA + 21 bps	7/1/2025		26,349,717		1
		$	630,389,171			$	630,389,206	$	35

^(a)

For long positions in the total return swap, the Fund receives payments based on any positive return of the Reference Obligation less the rate paid by the Fund. The Fund makes payments on any negative return of such Reference Obligations plus the rate paid by the Fund. For the short positions in the total return swap, the Fund makes payments based on any positive return of the Reference Obligation less the rate paid by the Fund. The Fund receives payments on any negative return of such Reference Obligations plus the rate paid by the Fund.

United States Auction Results 3 Month Treasury Bill High Discount. Total return swap resets monthly.

^**

CRB - Commodity Research Bureau

See Notes to Quarterly Statement of Investments.

ALPS | Kotak India ESG Fund

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Shares		Value (Note 2)
COMMON STOCKS (101.32%)
Communication Services (7.82%)
Diversified Telecommunication Services (1.63%)
Indus Towers, Ltd.^(a)		1,270,571	$	6,586,410

Entertainment (1.29%)
PVR Inox, Ltd.^(a)		292,388		5,246,758

Wireless Telecommunication Services (4.90%)
Bharti Airtel, Ltd.		1,052,404		18,800,074
Bharti Airtel, Ltd. partly paid		78,914		1,024,699
				19,824,773

TOTAL COMMUNICATION SERVICES				31,657,941

Consumer Discretionary (8.51%)
Automobile Components (4.85%)
Apollo Tyres, Ltd.		1,362,962		9,072,034
Exide Industries, Ltd.		134,190		840,248
UNO Minda, Ltd.		780,321		9,722,493
				19,634,775

Hotels, Restaurants & Leisure (3.66%)
Zomato, Ltd.^(a)		5,387,813		14,816,526

TOTAL CONSUMER DISCRETIONARY				34,451,301

Consumer Staples (4.79%)
Food Products (2.40%)
Bikaji Foods International, Ltd.		192,706		1,651,013
Nestle India, Ltd.		275,000		8,081,157
				9,732,170

Personal Care Products (2.39%)
Godrej Consumer Products, Ltd.		560,000		9,656,988

TOTAL CONSUMER STAPLES				19,389,158

Energy (7.38%)
Oil, Gas & Consumable Fuels (7.38%)
Reliance Industries, Ltd.		828,655		29,875,024

TOTAL ENERGY				29,875,024

Financials (25.45%)
Banks (20.96%)
Axis Bank, Ltd.		1,619,379		22,621,595
HDFC Bank, Ltd., ADR		62,825		3,770,129
HDFC Bank, Ltd.		812,721		15,705,231
ICICI Bank, Ltd., Sponsored ADR		800,000		23,288,000
ICICI Bank, Ltd.		679,743		9,908,257
IndusInd Bank, Ltd.		557,461		9,528,292
				84,821,504

	Shares		Value (Note 2)
Insurance (4.49%)
ICICI Lombard General Insurance Co., Ltd.^(b)(c)		373,783	$	8,981,847
Max Financial Services, Ltd.^(a)		690,292		9,180,901
				18,162,748

TOTAL FINANCIALS				102,984,252

Health Care (9.71%)
Health Care Providers & Services (5.30%)
Fortis Healthcare, Ltd.		1,951,422		11,709,134
Max Healthcare Institute, Ltd.		881,015		9,729,080
				21,438,214

Pharmaceuticals (4.41%)
Cipla, Ltd.		338,048		6,246,447
Sun Pharmaceutical Industries, Ltd.		564,057		11,601,501
				17,847,948

TOTAL HEALTH CARE				39,286,162

Industrials (14.56%)
Aerospace & Defense (1.43%)
Bharat Electronics, Ltd.^(a)		1,533,706		5,803,374

Building Products (1.06%)
Apollo Pipes, Ltd.		563,728		4,304,042

Construction & Engineering (4.92%)
Larsen & Toubro, Ltd.		435,716		19,898,004

Machinery (3.96%)
Ashok Leyland, Ltd.		2,626,340		8,082,877
Thermax, Ltd.		131,037		7,954,369
				16,037,246

Passenger Airlines (3.19%)
InterGlobe Aviation, Ltd.^(a)(b)(c)		241,151		12,895,801

TOTAL INDUSTRIALS				58,938,467

Information Technology (9.49%)
IT Services (9.49%)
Cognizant Technology Solutions Corp., Class A		201,336		15,237,108
Infosys, Ltd., Sponsored ADR		556,059		12,305,586
Tech Mahindra, Ltd.		581,974		10,840,586
				38,383,280

TOTAL INFORMATION TECHNOLOGY				38,383,280

Materials (6.91%)
Chemicals (2.53%)
Carborundum Universal, Ltd.		497,294		10,233,932

Construction Materials (3.23%)
UltraTech Cement, Ltd.		92,080		13,092,185

	Shares		Value (Note 2)
Paper & Forest Products (1.15%)
Century Plyboards India, Ltd.		547,415	$	4,638,230

TOTAL MATERIALS				27,964,347

Real Estate (4.55%)
Real Estate Management & Development (4.55%)
Brigade Enterprises, Ltd.		500,072		7,535,707
Oberoi Realty, Ltd.		186,295		4,151,389
Sobha Developers, Ltd.		289,975		6,249,485
Sobha, Ltd.		40,728		451,819
				18,388,400

TOTAL REAL ESTATE				18,388,400

Utilities (2.15%)
Electric Utilities (2.15%)
Power Grid Corp. of India, Ltd.		2,091,885		8,713,096

TOTAL UTILITIES				8,713,096

TOTAL COMMON STOCKS
(Cost $301,454,357)				410,031,428

	7-Day Yield			Shares		Value (Note 2)
SHORT TERM INVESTMENTS (1.48%)
Money Market Funds (1.48%)
Goldman Sachs Financial Square Government Fund - Institutional Class		5.221	%		6,000,000		6,000,000

TOTAL MONEY MARKET FUNDS							6,000,000

TOTAL SHORT TERM INVESTMENTS
(Cost $6,000,000)							6,000,000

TOTAL INVESTMENTS (102.80%)
(Cost $307,454,357)						$	416,031,428

Liabilities In Excess Of Other Assets (-2.80%)							(11,323,001	)

NET ASSETS (100.00%)						$	404,708,427

^(a)	Non-Income Producing Security.
^(b)	Securities 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. As of July 31, 2024, the aggregate market value of those securities was $21,877,648, representing 5.41% of net assets.

^(c)

Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under guidelines utilized by the Valuation Designee. As of July 31, 2024 the aggregate market value of those securities was $21,877,648, representing 5.41% of net assets.

For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percent of net assets.

See Notes to Quarterly Statement of Investments.

ALPS Global Opportunity Fund

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Shares		Value (Note 2)
CLOSED-END FUNDS (19.54%)
3i Infrastructure PLC		129,317	$	581,050
Abrdn Private Equity Opportunities Trust PLC		144,826		1,061,228
HarbourVest Global Private Equity, Ltd.^(a)		82,483		2,769,090
HBM Healthcare Investments AG, Class A		3,248		728,973
HgCapital Trust PLC		452,979		3,145,896
ICG Enterprise Trust PLC		41,895		723,509
NB Private Equity Partners, Ltd.		43,895		959,293
Oakley Capital Investments, Ltd.		316,715		2,133,474
Pantheon International PLC Fund^(a)		230,575		961,866

TOTAL CLOSED-END FUNDS
(Cost $9,256,367)				13,064,379

COMMON STOCKS (69.52%)
Communications (2.81%)
Internet (2.07%)
Amazon.com, Inc.^(a)		3,475		649,756
GoDaddy, Inc.^(a)		5,065		736,704
				1,386,460

Media (0.74%)
Liberty Media Corp.-Liberty SiriusXM, Class A^(a)		21,680		490,401

TOTAL COMMUNICATIONS				1,876,861

Consumer Discretionary (1.66%)
Retail (1.66%)
Wesfarmers, Ltd.		23,000		1,110,031

TOTAL CONSUMER DISCRETIONARY				1,110,031

Consumer Staples (2.64%)
Retail (2.64%)
Costco Wholesale Corp.		2,145		1,763,190

TOTAL CONSUMER STAPLES				1,763,190

Financials (45.37%)
Diversified Financial Services (24.53%)
Apollo Global Management, Inc.		14,920		1,869,625
Ares Management LP, Class A		19,135		2,931,482
Berkshire Hathaway, Inc., Class B^(a)		4,605		2,019,292
Blackstone, Inc., Class A		16,280		2,314,202
KKR & Co., Inc., Class A		30,065		3,711,524
Mastercard, Inc., Class A		1,405		651,513
Partners Group Holding AG		1,606		2,161,747

	Shares		Value (Note 2)
Diversified Financial Services (continued)
StepStone Group, Inc., Class A		14,885	$	748,120
				16,407,505

Investment Companies (10.33%)
3i Group PLC		81,535		3,280,201
Eurazeo SE		6,787		533,969
Investor AB, B Shares		49,585		1,407,725
Italmobiliare SpA		16,965		549,894
Mutares SE & Co. KGaA		32,835		1,136,495
				6,908,284

Private Equity (10.51%)
Altamir		38,218		1,038,173
Brederode SA^(a)		18,669		2,192,291
Clairvest Group, Inc.		12,285		631,757
EQT AB		23,155		749,757
Intermediate Capital Group PLC		85,697		2,418,938
				7,030,916

TOTAL FINANCIALS				30,346,705

Health Care (1.81%)
Healthcare-Services (1.81%)
Chemed Corp.		2,120		1,208,739

TOTAL HEALTH CARE				1,208,739

Industrials (6.74%)
Aerospace/Defense (1.12%)
Lockheed Martin Corp.		1,375		745,140

Commercial Services (1.00%)
Ashtead Group PLC		9,305		671,515

Electrical Equipment (1.57%)
Melrose Industries PLC		138,630		1,049,746

Electronics (0.79%)
OEM International AB, Class B		45,805		528,657

Machinery-Diversified (2.26%)
CSW Industrials, Inc.		2,570		833,760
Dover Corp.		3,685		678,998
				1,512,758

TOTAL INDUSTRIALS				4,507,816

Technology (8.49%)
Computers (1.65%)
Accenture PLC, Class A		1,815		600,075
Dell Technologies, Inc.		4,405		500,761
				1,100,836

Software (6.84%)
Constellation Software, Inc.		674		2,126,636
Fiserv, Inc.^(a)		3,960		647,737

	Shares		Value (Note 2)
Software (continued)
Lumine Group, Inc.^(a)(b)		20,060	$	536,861
Microsoft Corp.		1,475		617,066
Paychex, Inc.		5,070		649,061
				4,577,361

TOTAL TECHNOLOGY				5,678,197

TOTAL COMMON STOCKS
(Cost $30,583,045)				46,491,539

BUSINESS DEVELOPMENT COMPANIES (6.69%)
Financials (6.69%)
Investment Companies (5.61%)
Ares Capital Corp.		59,205		1,239,753
Blue Owl Capital Corp.		46,535		722,223
Carlyle Secured Lending, Inc.		34,555		610,241
FS KKR Capital Corp.		58,380		1,182,195
				3,754,412

Private Equity (1.08%)
Hercules Capital, Inc.		33,500		722,260

TOTAL FINANCIALS				4,476,672

TOTAL BUSINESS DEVELOPMENT COMPANIES
(Cost $4,056,507)				4,476,672

PREFERRED STOCK (2.02%)
Financials (1.53%)
Investment Companies (1.53%)
Compass Diversified Holdings, Series C, 7.875%^(c)		41,236		1,027,189

TOTAL FINANCIALS				1,027,189

Industrials (0.49%)
Metal Fabricate/Hardware (0.49%)
Steel Partners Holdings LP, 6.00%^(a)		13,442		326,372

TOTAL INDUSTRIALS				326,372

TOTAL PREFERRED STOCK
(Cost $1,256,022)				1,353,561

	7-Day Yield			Shares		Value (Note 2)
SHORT-TERM INVESTMENTS (1.97%)
Money Market Fund (1.97%)
State Street Institutional Treasury Plus Money Market Fund - Premier Class		5.265	%		1,319,585	$	1,319,585

TOTAL MONEY MARKET FUND							1,319,585

TOTAL SHORT-TERM INVESTMENTS
(Cost $1,319,585)							1,319,585

TOTAL INVESTMENTS (99.74%)
(Cost $46,471,526)						$	66,705,736

Assets In Excess Of Other Liabilities (0.26%)							173,636

NET ASSETS (100.00%)						$	66,879,372

^(a)	Non-Income Producing Security.
^(b)	Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under guidelines utilized by the Valuation Designee. As of July 31, 2024 the aggregate market value of those securities was $536,861, representing 0.80% of net assets.
^(c)	Perpetual maturity. This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

See Notes to Quarterly Statement of Investments.

OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS

Counterparty	Settlement Date	Fund Receiving		U.S. $ Value at July 31, 2024		Fund Delivering		U.S. $ Value at July 31, 2024		Unrealized Appreciation/(Depreciation)

State Street Bank & Trust Company	11/22/24		USD	$	2,625,521		GBP	$	2,611,601	$	13,920
										$	13,920
State Street Bank & Trust Company	09/20/24		USD		1,966,206		GBP		1,993,496	$	(27,290	)
										$	(27,290	)

RiverFront Asset Allocation Growth & Income

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

			Value
	Shares		(Note 2)
EXCHANGE TRADED FUNDS (97.38%)
Debt (27.10%)
Invesco BulletShares 2029 Corporate Bond ETF		40,062	$	739,945
iShares 7-10 Year Treasury Bond ETF		18,197		1,748,186
JPMorgan USD Emerging Markets Sovereign Bond ETF		14,183		558,782
PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF		15,415		1,198,825
RiverFront Dynamic Core Income ETF^(a)		227,112		5,112,291
Riverfront Strategic Income Fund^(a)		116,542		2,675,804
VanEck Fallen Angel High Yield Bond ETF		62,049		1,792,596
Vanguard^® Long-Term Corporate Bond ETF		95,827		7,472,589
				21,299,018
Equity (70.28%)
ALPS Active Equity Opportunity ETF^(a)		53,896		2,980,540
Energy Select Sector SPDR^® Fund		8,941		833,391
First Trust RiverFront Dynamic Developed International ETF^(a)		165,359		10,969,916
First Trust RiverFront Dynamic Emerging Markets ETF^(a)		42,789		2,799,372
iShares^® Core S&P 500^®ETF		9,819		5,433,049
iShares^® MSCI Europe Financials ETF		33,635		785,041
iShares^® U.S. Technology ETF		27,162		3,974,615
JPMorgan Equity Premium Income ETF		148,245		8,521,122
JPMorgan Nasdaq Equity Premium Income ETF		35,640		1,914,581
RiverFront Dynamic US Dividend Advantage ETF^(a)		286,978		15,602,621
VanEck Semiconductor ETF		2,723		672,554
WisdomTree^® Europe Hedged Equity Fund		17,282		765,247
				55,252,049

TOTAL EXCHANGE TRADED FUNDS
(Cost $63,328,244)				76,551,067

	7-Day					Value
	Yield			Shares		(Note 2)
SHORT-TERM INVESTMENTS (2.67%)
Money Market Fund (2.67%)
State Street Institutional Treasury Plus Money Market Fund- Premier Class		5.281	%		2,103,024	$	2,103,024

TOTAL MONEY MARKET FUND							2,103,024

TOTAL SHORT-TERM INVESTMENTS
(Cost $2,103,024)							2,103,024

TOTAL INVESTMENTS (100.05%)
(Cost $65,431,268)						$	78,654,091

Liabilities In Excess Of Other Assets (-0.05%)							(40,448	)

NET ASSETS (100.00%)						$	78,613,643

^(a)

Affiliated Company. See Note 4 in Notes to Quarterly Statement of Investments.

See Notes to Quarterly Statement of Investments.

Notes to Quarterly Statements of Investments

July 31, 2024 (Unaudited)

1. ORGANIZATION

Financial Investors Trust (the “Trust”), a Delaware statutory trust, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust consists of multiple separate portfolios or series. This report includes the statements of investments of the following 4 funds: ALPS | CoreCommodity Management CompleteCommodities® Strategy Fund, ALPS | Kotak India ESG Fund, ALPS Global Opportunity Fund, and RiverFront Asset Allocation Growth & Income (each, a “Fund” and collectively, the “Funds”).

The ALPS | CoreCommodity Management CompleteCommodities® Strategy Fund seeks to maximize real returns, consistent with prudent investment management. ALPS | Kotak India ESG Fund seeks to achieve long-term capital appreciation. The ALPS Global Opportunity Fund seeks to maximize total return, which consists of appreciation on its investments and a variable income stream. RiverFront Asset Allocation Growth & Income seeks to achieve long-term growth and income.

The classes of each Fund differ principally in the applicable distribution and shareholder service fees. Shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders bear the common expenses of the Fund and earn income and realized gains/losses from the Fund pro rata based on the average daily net assets of each class, without distinction between share classes. Dividends to shareholders are determined separately for each class based on income and expenses allocable to each class. Realized gain distributions to shareholders are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if applicable.

Basis of Consolidation for the ALPS | CoreCommodity Management CompleteCommodities® Strategy Fund

CoreCommodity Management Cayman Commodity Fund Ltd. (the “Subsidiary”), a Cayman Islands exempted company, was incorporated on April 23, 2010 and is a wholly owned subsidiary of the ALPS | CoreCommodity Management CompleteCommodities® Strategy Fund (the “CoreCommodity Fund”). All intercompany transactions have been eliminated upon consolidation. The Subsidiary acts as an investment vehicle for the CoreCommodity Fund in order to effect certain commodity-related investments on behalf of the CoreCommodity Fund. CoreCommodity Fund is the sole shareholder of the Subsidiary pursuant to a subscription agreement dated as of June 14, 2010, and it is intended that the CoreCommodity Fund will remain the sole shareholder and will continue to wholly own and control the Subsidiary. Under the Articles of Association of the Subsidiary, shares issued by the Subsidiary confer upon a shareholder the right to vote at general meetings of the Subsidiary and certain rights in connection with any winding-up or repayment of capital, as well as the right to participate in the profits or assets of the Subsidiary. The CoreCommodity Fund may invest up to 25% of its total assets in shares of the Subsidiary. As a wholly owned subsidiary of the CoreCommodity Fund, the financial statements of the Subsidiary are included in the consolidated financial statements and financial highlights of the CoreCommodity Fund. All investments held by the Subsidiary are disclosed in the accounts of the CoreCommodity Fund. As of July 31, 2024, net assets of the CoreCommodity Fund were $973,757,276 of which $192,174,446 or 19.74%, represented the CoreCommodity Fund’s ownership of all issued shares and voting rights of the Subsidiary.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. Each Fund is considered an investment company for financial reporting purposes, and follows accounting policies in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), including policies specific to investment companies. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets during the reporting period. Actual results could differ from those estimates. The following is a summary of significant accounting policies consistently followed by the Funds and subsidiaries, as applicable, in preparation of their financial statements. The Funds are an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 946 "Financial Services – Investment Companies”.

Investment Valuation: The Funds generally value their securities based on market prices determined at the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern Time, on each day the NYSE is open for trading. For equity securities and mutual funds that are traded on an exchange, the market price is usually the closing sale or official closing price on that exchange.

Futures contracts that are listed or traded on a national securities exchange, commodities exchange, contract market or comparable over the counter market, and that are freely transferable, are valued at their closing settlement price on the exchange on which they are primarily traded or based upon the current settlement price for a like instrument acquired on the day on which the instrument is being valued. A settlement price may not be used if the market makes a limited move with respect to a particular commodity. Over-the-counter swap contracts are valued based on quotes received from independent pricing services or one or more dealers that make markets in such investments.

For ALPS | Kotak India ESG Fund and ALPS Global Opportunity Fund, who hold equity securities that are primarily traded on foreign securities exchanges, such securities are valued at the closing values of such securities on their respective foreign exchanges, except when an event occurs subsequent to the close of the foreign exchange and the close of the NYSE that was likely to have changed such value. In such an event, the fair value of those securities are determined in good faith through consideration of other factors in accordance with procedures established by the Valuation Designee. The Funds will use a fair valuation model provided by an independent pricing service, which is intended to reflect fair value when a security’s value or a meaningful portion of the Funds' portfolio is believed to have been materially affected by a valuation event that has occurred between the close of the exchange or market on which the security is traded and the close of the regular trading day on the NYSE.

Forward currency exchange contracts have a value determined by the current foreign currency exchange forward rates. The foreign currency exchange forward rates are calculated using an automated system that estimates rates on the basis of the current day foreign currency exchange rates and forward foreign currency exchange rates supplied by a pricing service. Foreign exchange rates and forward foreign currency exchange rates may generally be obtained at the close of the NYSE, normally 4:00 p.m. Eastern Time.

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Trust’s Board of Trustees (the “Board” or “Trustees”) has appointed the Adviser to serve as the Valuation Designee to perform fair value determinations for investments in the Funds. When such prices or quotations are not available, or when the Valuation Designee appointed by the Board believes that they are unreliable, securities may be priced using fair value procedures utilized by the Valuation Designee. The fair valuation policies and procedures (“FV Procedures”) are utilized by the Valuation Designee for the fair valuation of portfolio assets held by the Funds in the event that (1) market quotations for the current price of a portfolio security or asset are not readily available, or (2) available market quotations that would otherwise be used to value a portfolio security or asset in accordance with the Fund’s Pricing Procedures appear to be unreliable. The Pricing Procedures reflect certain pricing methodologies (or “logics”) that are not “readily available market quotations” and thus are viewed and treated as fair valuations. The Valuation Designee routinely meets to discuss fair valuations of portfolio securities and other instruments held by the Funds.

Fair Value Measurements: The Funds disclose the classification of their fair value measurements following a three-tier hierarchy based on the inputs used to measure fair value. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available.

Various inputs are used in determining the value of each Fund’s investments as of the end of the reporting period. When inputs used fall into different levels of the fair value hierarchy, the level in the hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The designated input levels are not necessarily an indication of the risk or liquidity associated with these investments. These inputs are categorized in the following hierarchy under applicable financial accounting standards:

Level 1 –

Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that a Fund has the ability to access at the measurement date;

Level 2 –	Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and

Level 3 –

Significant unobservable prices or inputs (including the Fund’s own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

The following is a summary of each Fund’s investments/financial instruments in the fair value hierarchy as of July 31, 2024:

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| CoreCommodity Management CompleteCommodities® Strategy Fund
Common Stocks^(a)	$	–		$	–	$	1,182	$	1,182
Exchange Traded Funds		307,922,598			–		–		307,922,598
Government Bonds		–			634,266,341		–		634,266,341
Short Term Investments		51,891,455			–		–		51,891,455
Total	$	359,814,053		$	634,266,341	$	1,182	$	994,081,576
Other Financial Instruments
Assets
Futures Contracts	$	16,814,524		$	–	$	–	$	16,814,524
Total Return Swap Contracts		–			35		–		35
Liabilities
Futures Contracts		(20,360,199	)		–		–		(20,360,199	)
Total	$	(3,545,675	)	$	35	$	–	$	(3,545,640	)

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| Kotak India ESG Fund
Common Stocks
Communication Services	$	–	$	31,657,941	$	–	$	31,657,941
Consumer Discretionary		–		34,451,301		–		34,451,301
Consumer Staples		–		19,389,158		–		19,389,158
Energy		–		29,875,024		–		29,875,024
Financials		27,058,129		75,926,123		–		102,984,252
Health Care		–		39,286,162		–		39,286,162
Industrials		–		58,938,467		–		58,938,467
Information Technology		27,542,694		10,840,586		–		38,383,280
Materials		–		27,964,347		–		27,964,347
Real Estate		451,819		17,936,581		–		18,388,400
Utilities		–		8,713,096		–		8,713,096
Short Term Investments		6,000,000		–		–		6,000,000
Total	$	61,052,642	$	354,978,786	$	–	$	416,031,428

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Total
ALPS Global Opportunity Fund
Closed-End Funds	$	5,844,834	$	7,219,545		$	–	$	13,064,379
Common Stocks
Communications		1,876,861		–			–		1,876,861
Consumer Discretionary		–		1,110,031			–		1,110,031
Consumer Staples		1,763,190		–			–		1,763,190
Financials		16,465,582		13,881,123			–		30,346,705
Health Care		1,208,739		–			–		1,208,739
Industrials		2,786,555		1,721,261			–		4,507,816
Technology		5,678,197		–			–		5,678,197
Business Development Companies		4,476,672		–			–		4,476,672
Preferred Stock		1,353,561		–			–		1,353,561
Short-Term Investments		1,319,585		–			–		1,319,585
Total	$	42,773,776	$	23,931,960		$	–	$	66,705,736
Other Financial Instruments
Assets:
Forward Contract	$	–	$	13,920		$	–	$	13,920
Liabilities:
Forward Contract		–		(27,290	)		–		(27,290	)
Total	$	–	$	(13,370	)	$	–	$	(13,370	)


Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Total
RiverFront Asset Allocation Growth & Income
Exchange Traded Funds	$	76,551,067	$	–		$	–	$	76,551,067
Short-Term Investments		2,103,024		–			–		2,103,024
Total	$	78,654,091	$	–		$	–	$	78,654,091


^(a)	For detailed descriptions of country, sector and/or industry, see the accompanying Consolidated Statement of Investments.

The Funds, except for the ALPS | CoreCommodity Management CompleteCommodities® Strategy, did not have any securities that used significant unobservable inputs (Level 3) in determining fair value and there were no transfers into or out of Level 3 during the period ended July 31, 2024. As of July 31, 2024, ALPS | CoreCommodity Management CompleteCommodities® Strategy held securities classified as Level 3 in the fair value hierarchy valued at $1,182, which represents less than 0.005% of net assets.

Fund and Class Expenses: Some expenses of the Trust can be directly attributed to a Fund or a specific share class of a Fund. Expenses which cannot be directly attributed are apportioned among all Funds in the Trust based on average net assets of each share class within a Fund.

Federal Income Taxes: The Funds comply with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to regulated investment companies and intend to distribute substantially all of their net taxable income and net capital gains, if any, each year. The Funds are not subject to income taxes to the extent such distributions are made.

The Funds file U.S. federal, state, and local tax returns as required. The Funds’ tax returns are subject to examination by the relevant tax authorities until expiration of the applicable statute of limitations which is generally three years after the filing of the tax return, but may extend to four years in certain jurisdictions. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes.

Distributions to Shareholders: Each Fund, except RiverFront Asset Allocation Growth & Income, normally pays dividends and distributes capital gains, if any, on an annual basis. RiverFront Asset Allocation Growth & Income normally pays dividends, if any, on a quarterly basis and distributes capital gains, if any, annually. Income dividend distributions are derived from interest, dividends, and other income a Fund receives from its investments, including distributions of short-term capital gains, if any. Capital gain distributions are derived from gains realized when a Fund sells a security it has owned for more than a year or from long-term capital gain distributions from underlying investments. Each Fund may make additional distributions and dividends at other times if its portfolio manager or managers believe doing so may be necessary for the Fund to avoid or reduce taxes.

Commodity-Linked Notes: The ALPS | CoreCommodity Management CompleteCommodities® Strategy Fund may invest in commodity-linked notes which are derivative instruments that have characteristics of a debt security and of a commodity-linked derivative. A commodity-linked note typically provides for interest payments and a principal payment at maturity linked to the price movement of the underlying commodity, commodity index or commodity futures or option contract. Commodity-linked notes may be principal protected, partially protected, or offer no principal protection. The value of these notes will rise and fall in response to changes in the underlying commodity or related index or investment. These notes are often leveraged, increasing the volatility of each note’s value relative to the change in the underlying linked index. Commodity index-linked investments may be more volatile and less liquid than the underlying index and their value may be affected by the performance of the commodities as well as other factors, including liquidity, quality, maturity and other economic variables. Commodity-linked notes are typically issued by a bank or other financial institution and are sometimes referred to as structured notes because the terms of the notes may be structured by the issuer and the purchaser of the notes to accommodate the specific investment requirements of the purchaser.

Exchange Traded Funds (ETFs): Each Fund may invest in shares of ETFs and other similar instruments if the investment manager chooses to adjust a Fund’s exposure to the general market or industry sectors and to manage a Fund’s risk exposure. ETFs differ from traditional index funds in that their shares are listed on a securities exchange and can be traded intraday. ETF shares are shares of exchange traded investment companies that are registered under the 1940 Act and hold a portfolio of common stocks designed to track the performance of a particular index. Limitations of the 1940 Act may prohibit a Fund from acquiring more than 3% of the outstanding shares of certain ETFs. Instruments that are similar to ETFs represent beneficial ownership interests in specific “baskets” of stocks of companies within a particular industry sector or group. These securities may also be exchange traded, but unlike ETFs, the issuers of these securities are not registered as investment companies.

The portfolio manager may decide to purchase or sell short ETF shares or options on ETF shares for the same reasons it would purchase or sell (and as an alternative to purchasing or selling) futures contracts – to obtain exposure to the stock market or a particular segment of the stock market, or to hedge a Fund’s portfolio against such exposures. Depending on the market, the holding period and other factors, the use of ETF shares and options thereon can be less costly than the use of index options or stock index futures. In addition, ETF shares and options thereon can typically be purchased in smaller amounts than are available for futures contracts and can offer exposure to market sectors and styles for which there is no suitable or liquid futures contract.

Investment Transactions and Investment Income: Investment transactions are accounted for on the date the investments are purchased or sold (trade date basis). Net realized gains and losses from investment transactions are reported on an identified cost basis. Interest income, which includes accretion of discounts and amortization of premiums, is accrued and recorded as earned. Dividend income is recognized on the ex-dividend date or for certain foreign securities, as soon as information is available to each Fund.

Cash Management Transactions: ALPS | Kotak India ESG Fund subscribes to the Brown Brothers Harriman & Co. (“BBH”) Cash Management Service (“CMS”), whereby cash balances are automatically swept into overnight offshore demand deposits with either the BBH Grand Cayman branch or a branch of a pre-approved commercial bank. This fully automated program allows the Fund to earn interest on cash balances. Excess cash with deposit institutions domiciled outside of the U.S. are subject to sovereign actions in the jurisdiction of the deposit institution including, but not limited to, freeze, seizure or diminution.

Foreign Securities: Each Fund may directly purchase securities of foreign issuers. Investing in securities of foreign issuers involves special risks not typically associated with investing in securities of U.S. issuers. The risks include possible reevaluation of currencies, the inability to repatriate foreign currency, less complete financial information about companies and possible future adverse political and economic developments.

Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than those of securities of comparable U.S. issuers.

Foreign Currency Translation: Values of investments denominated in foreign currencies are converted into U.S. dollars using the current exchange rates each business day (generally 4:00 p.m. Eastern Time). Purchases and sales of investments and dividend income are translated into U.S. dollars using the current prevailing exchange rate on the transaction date. The effect of changes in foreign exchange rates on realized and unrealized gains or losses on securities is reflected as a component of such gains or losses. Transactions in foreign denominated assets may involve greater risks than domestic transactions.

Foreign Currency Spot Contracts: The Funds may enter into foreign currency spot contracts to facilitate transactions in foreign securities or to convert foreign currency receipts into U.S. dollars. A foreign currency spot contract is an agreement between two parties to buy and sell currencies at the current market rate, for settlement generally within two business days. The U.S. dollar value of the contracts is determined using current currency exchange rates supplied by a pricing service. The contract is marked-to-market daily for settlements beyond one day and any change in market value is recorded as an unrealized gain or loss. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value on the open and close date. Losses may arise from changes in the value of the foreign currency, or if the counterparties do not perform under the contract’s terms. The maximum potential loss from such contracts is the aggregate face value in U.S. dollars at the time the contract was opened.

Real Estate Investment Trusts (“REITs”): The Funds may invest a portion of their assets in REITs and are subject to certain risks associated with direct investment in REITs. REITs may be affected by changes in the value of their underlying properties and by defaults by borrowers or tenants. REITs depend generally on their ability to generate cash flow to make distributions to shareowners, and certain REITs have self-liquidation provisions by which mortgages held may be paid in full and distributions of capital returns may be made at any time. In addition, the performance of a REIT may be affected by its failure to qualify for tax-free pass-through of income under the Code, or its failure to maintain exemption from registration under the 1940 Act. Distributions that the Fund receives from REITs can be classified as ordinary income, capital gain income or return of capital by the REITs that make these distributions to the Fund. However, it is not possible for the Fund to characterize distributions received from REITs during interim periods because the REIT issuers do not report their tax characterizations until subsequent to year end. During interim periods, the REIT distributions are accounted for as ordinary income until the re characterizations are made subsequent to year end.

Master Limited Partnerships (“MLPs”): Certain Funds may invest in MLPs, which are publicly traded partnerships engaged in the transportation, storage and processing of minerals and natural resources. By confining their operations to these specific activities, their interests, or units, are able to trade on public securities exchanges exactly like the shares of a corporation, without entity level taxation. To qualify as a MLP and to not be taxed as a corporation, a partnership must receive at least 90% of its income from qualifying sources as set forth in Section 7704(d) of the Code. These qualifying sources include natural resource based activities such as the processing, transportation and storage of mineral or natural resources. MLPs generally have two classes of owners, the general partner and limited partners. The general partner of an MLP is typically owned by a major energy company, an investment fund, the direct management of the MLP, or is an entity owned by one or more of such parties. The general partner may be structured as a private or publicly traded corporation or other entity. The general partner typically controls the operations and management of the MLP through an up to 2% equity interest in the MLP plus, in many cases, ownership of common units and subordinated units. Limited partners typically own the remainder of the partnership, through ownership of common units, and have a limited role in the partnership’s operations and management. MLPs are typically structured such that common units and general partner interests have first priority to receive quarterly cash distributions up to an established minimum amount (“minimum quarterly distributions” or “MQD”). Common and general partner interests also accrue arrearages in distributions to the extent the MQD is not paid. Once common and general partner interests have been paid, subordinated units receive distributions of up to the MQD; however, subordinated units do not accrue arrearages. Distributable cash in excess of the MQD is paid to both common and subordinated units and is distributed to both common and subordinated units generally on a pro rata basis. The general partner is also eligible to receive incentive distributions if the general partner operates the business in a manner which results in distributions paid per common unit surpassing specified target levels. As the general partner increases cash distributions to the limited partners, the general partner receives an increasingly higher percentage of the incremental cash distributions.

3. DERIVATIVE INSTRUMENTS

As a part of their investment strategy, the Funds are permitted to enter in various types of derivatives contracts. In doing so, the Funds employ strategies in differing combinations to permit them to increase, decrease, or change the level or types of exposure to market factors. Central to those strategies are features inherent in derivatives that make them more attractive for this purpose than equity or debt securities; they require little or no initial cash investment, they focus exposure on only certain selected risk factors, and they may not require the ultimate receipt or delivery of the underlying security (or securities) to the contract. This may allow the Funds to pursue their objectives more quickly and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market factors.

Cash collateral is being pledged to cover derivative obligations of the Funds and cash collateral received from the counterparty, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Funds, if any, is noted in the Statements of Investments or Consolidated Statement of Investments.

Risk of Investing in Derivatives: The Funds’ use of derivatives can result in losses due to unanticipated changes in the market risk factors and the overall market. In instances where the Funds are using derivatives to decrease, or hedge, exposures to market risk factors for securities held by the Funds, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.

Derivatives may have little or no initial cash investment relative to their market value exposure and therefore can produce significant gains or losses in excess of their cost. This use of embedded leverage allows the Funds to increase their market value exposure relative to their net assets and can substantially increase the volatility of the Funds’ performance.

Additional associated risks from investing in derivatives also exist and potentially could have significant effects on the valuation of the derivative and the Funds. Typically, the associated risks are not the risks that the Funds are attempting to increase or decrease exposure to, per their investment objectives, but are the additional risks from investing in derivatives.

Examples of these associated risks are liquidity risk, which is the risk that the Funds will not be able to sell or close out the derivative in a timely manner, and counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Funds. In addition, use of derivatives may increase or decrease exposure to the following risk factors:

Equity Risk: Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market. Associated risks can be different for each type of derivative and are discussed by each derivative type in the notes that follow.

Commodity Risk: Exposure to the commodities markets may subject the Funds to greater volatility than investments in traditional securities. Prices of various commodities may also be affected by factors, such as drought, floods, weather, livestock disease, embargoes, tariffs and other regulatory developments, which are unpredictable. The prices of commodities can also fluctuate widely due to supply and demand disruptions in major producing or consuming regions.

Foreign Currency Risk: Currency trading involves significant risks, including market risk, interest rate risk, country risk, counterparty credit risk and short sale risk. Market risk results from the price movement of foreign currency values in response to shifting market supply and demand. Interest rate risk arises whenever a country changes its stated interest rate target associated with its currency. Country risk arises because virtually every country has interfered with international transactions in its currency.

Interest Rate Risk: Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. As nominal interest rates rise, the value of fixed income securities held by the Funds are likely to decrease. Securities with longer durations tend to be more sensitive to changes in interest rates, and are usually more volatile than securities.

Swap Contracts: Each Fund may enter into swap transactions for hedging purposes or to seek to increase total return. At the present time, the CoreCommodity Fund primarily enters into swap transactions for the purpose of increasing total return. Swap agreements may be executed in a multilateral or other trade facility program, such as a registered exchange (“centrally cleared swaps”) or may be privately negotiated in the over-the counter market. The duration of a swap agreement typically ranges from a few weeks to more than one year. In a centrally cleared swap, immediately following execution of the swap agreement, the swap agreement is novated to a central counterparty (the “CCP”) and the Fund’s counterparty on the swap agreement becomes the CCP. Risks may arise as a result of the failure of the counterparty to the swap contract to comply with the terms of the swap contract. The loss incurred by the failure of a counterparty is generally limited to the net payment to be received by the Funds and/or the termination value at the end of the contract. Therefore, the Funds consider the creditworthiness of each counterparty to a contract in evaluating potential credit risk. Although centrally cleared swaps typically present less counterparty risk than non-centrally cleared swaps, a Fund that has entered into centrally cleared swaps is subject to the risk of the failure of the CCP.

Additionally, risks may arise from unanticipated movements in interest rates or in the value of the underlying reference asset or index. Entering into these agreements involves, to varying degrees, market risk, liquidity risk and elements of credit, legal and documentation risk that are not directly reflected in the amounts recognized in the Statements of Assets and Liabilities or Consolidated Statement of Assets and Liabilities.

The Funds may pay or receive cash as collateral on these contracts which may be recorded as an asset and/or liability. The Funds must set aside liquid assets, or engage in other appropriate measures, to cover its obligations under these contracts. Swaps are marked to market daily using either pricing vendor quotations, counterparty prices or model prices and the change in value, if any, is recorded as an unrealized gain or loss. Upfront payments made and/or received by the Funds are recorded as an asset and/or liability and realized gains or losses are recognized ratably over the contract’s term/event, with the exception of forward starting interest rate swaps, whose realized gains or losses are recognized ratably from the effective start date. Periodic payments received or made on swap contracts are recorded as realized gains or losses. Gains or losses are realized upon termination of a swap contract.

Total return swaps are agreements in which there is an exchange of cash flows whereby one party commits to make payments based on the total return (coupons plus capital gains/losses) of an underlying instrument in exchange for fixed or floating rate interest payments. To the extent the total return of the instrument or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Funds will receive a payment from or make a payment to the counterparty. Credit default swaps are a type of swap agreement in which the protection “buyer” is generally obligated to pay the protection “seller” an upfront and/ or a periodic stream of payments over the term of the contract provided that no credit event, such as a default, on a reference obligation has occurred. Credit default swaps (“CDS”) are typically two-party financial contracts that transfer credit exposure between the two parties. Under a typical CDS, one party (the “seller”) receives pre-determined periodic payments from the other party (the “buyer”). The seller agrees to make compensating specific payments to the buyer if a negative credit event occurs, such as the bankruptcy or default by the issuer of the underlying debt instrument. Swap agreements held at July 31, 2024 are disclosed after the Statement of Investments or Consolidated Statement of Investments.

Futures: Each Fund may invest in futures contracts in accordance with their investment objectives. Each Fund does so for a variety of reasons including for cash management, hedging or non-hedging purposes in an attempt to achieve the Fund’s investment objective. A futures contract provides for the future sale by one party and purchase by another party of a specified quantity of the security or other financial instrument at a specified price and time. A futures contract on an index is an agreement pursuant to which two parties agree to take or make delivery of an amount of cash equal to the difference between the value of the index at the close of the last trading day of the contract and the price at which the index contract was originally written. Futures transactions may result in losses in excess of the amount invested in the futures contract. There can be no guarantee that there will be a correlation between price movements in the hedging vehicle and in the portfolio securities being hedged. An incorrect correlation could result in a loss on both the hedged securities in a Fund and the hedging vehicle so that the portfolio return might have been greater had hedging not been attempted. There can be no assurance that a liquid market will exist at a time when a Fund seeks to close out a futures contract or a futures option position. Lack of a liquid market for any reason may prevent a Fund from liquidating an unfavorable position, and the Fund would remain obligated to meet margin requirements until the position is closed. In addition, a Fund could be exposed to risk if the counterparties to the contracts are unable to meet the terms of their contracts. With exchange traded futures, there is minimal counterparty credit risk to the Funds since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. When a purchase or sale of a futures contract is made by a Fund, the Fund is required to deposit with its custodian (or broker, if legally permitted) a specified amount of liquid assets (“initial margin”). The margin required for a futures contract is set by the exchange on which the contract is traded and may be modified during the term of the contract. The initial margin is in the nature of a performance bond or good faith deposit on the futures contract that is returned to a Fund upon termination of the contract, assuming all contractual obligations have been satisfied. These amounts are included in Deposit with broker for futures contracts on the Statement of Assets and Liabilities. Each day a Fund may pay or receive cash, called “variation margin,” equal to the daily change in value of the futures contract. Such payments or receipts are recorded for financial statement purposes as unrealized gains or losses by a Fund. Variation margin does not represent a borrowing or loan by a Fund but is instead a settlement between a Fund and the broker of the amount one would owe the other if the futures contract expired. When the contract is closed, a Fund records a realized gain or loss 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.

Forward Foreign Currency Contracts: Each Fund may engage in currency transactions with counterparties to hedge the value of portfolio securities denominated in particular currencies against fluctuations in relative value, to gain or reduce exposure to certain currencies, or to generate income or gains. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. When a forward foreign currency contract is extinguished, through delivery, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was extinguished.

4. AFFILIATED COMPANIES

Funds may invest in certain securities that are considered securities issued by affiliated companies. As defined by the Investment Company Act of 1940, an affiliated person, including an affiliated company, is one in which a Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund.

The purchases, sales, dividend income, realized gains or losses, change in unrealized gains or losses, shares and value of investments in affiliated companies for ALPS | CoreCommodity Management CompleteCommodities® Strategy for the period ended July 31, 2024 were as follows:

Security Name	Market Value as of October 31, 2023		Purchases		Sales			Market Value as of July 31, 2024		Share Balance as of July 31, 2024		Dividends		Change in Unrealized Gain (Loss)		Realized Gain (Loss)
ALPS \| CoreCommodity Natural Resources ETF	$	-	$	291,145,392	$	(8,878,053	)	$	307,922,598		12,068,297	$	-	$	35,586,252	$	(9,930,993	)
	$	-	$	291,145,392	$	(8,878,053	)	$	307,922,598		12,068,297	$	-	$	35,586,252	$	(9,930,993	)

The purchases, sales, dividend income, realized gains or losses, change in unrealized gains or losses, shares and value of investments in affiliated companies for RiverFront Asset Allocation Growth & Income for the period ended July 31, 2024 were as follows:

Security Name	Market Value as of October 31, 2023		Purchases		Sales			Market Value as of July 31, 2024		Share Balance as of July 31, 2024		Dividends		Change in Unrealized Gain (Loss)		Realized Gain (Loss)
RiverFront Dynamic Core Income ETF	$	5,034,204	$	488,571	$	(732,161	)	$	5,112,291		227,112	$	165,537	$	381,595	$	(59,918	)
Riverfront Strategic Income Fund		2,353,789		544,977		(343,245	)		2,675,804		116,542		85,936		146,067		(25,784	)
First Trust RiverFront Dynamic Developed International ETF		10,198,579		-		(1,497,104	)		10,969,916		165,359		245,895		2,234,820		33,621
First Trust RiverFront Dynamic Emerging Markets ETF		2,592,781		-		(395,036	)		2,799,372		42,789		60,869		592,434		9,193
RiverFront Dynamic US Dividend Advantage ETF		14,234,833		-		(2,248,371	)		15,602,621		286,978		345,496		2,758,395		857,764
ALPS Active Equity Opportunity ETF		4,347,880		-		(2,461,297	)		2,980,540		53,896		28,778		775,328		318,629
	$	38,762,066	$	1,033,548	$	(7,677,214	)	$	40,140,544			$	932,511	$	6,888,639	$	1,133,505

Financial Investors Trust

Schedules of Investments

(Unaudited)

July 31, 2024

ALPS | Smith Short Duration Bond Fund

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Principal Amount		Value (Note 2)
BANK LOANS (0.26%)

Pipeline (0.26%)
Buckeye Partners LP
1M US SOFR + 2.00%, 11/22/2030^(a)	$	1,500,000	$	1,502,985

TOTAL BANK LOANS
(Cost $1,503,539)				1,502,985

	Principal Amount		Value (Note 2)
COLLATERALIZED MORTGAGE OBLIGATIONS (0.05%)

Fannie Mae
Series 1997-12, Class FA,
30D US SOFR + 1.11%, 04/18/2027^(a)	$	6,995	$	7,016
Series 1997-49, Class F,
30D US SOFR + 0.61%, 06/17/2027^(a)		9,273		9,256
Series 2004-95, Class AK,
5.500%, 01/25/2025		362		360
Series 2005-121, Class DY,
5.500%, 01/25/2026		890		886
Series 2011-40, Class KA,
3.500%, 03/25/2026		22,136		21,795
Series 2011-44, Class EB,
3.000%, 05/25/2026		5,507		5,415
Series 2011-61, Class B,
3.000%, 07/25/2026		10,778		10,585
Series 2011-80, Class KB,
3.500%, 08/25/2026		8,235		8,118
Series 2012-47, Class HA,
1.500%, 05/25/2027		14,961		14,458
Series 2013-5, Class DB,
2.000%, 02/25/2028		40,215		38,705
Series 2015-96, Class EA,
3.000%, 12/25/2026		105,370		102,536
				219,130
Freddie Mac
Series 1996-1810, Class D,
6.000%, 02/15/2026		5,250		5,195
Series 1996-1885, Class FA,
30D US SOFR + 0.56%, 09/15/2026^(a)		1,662		1,659

	Principal Amount		Value (Note 2)
Series 2001-2332, Class FB,
30D US SOFR + 0.56%, 01/15/2028^(a)	$	36,113	$	36,016
Series 2005-3005, Class ED,
5.000%, 07/15/2025		6,116		6,084
Series 2006-3104, Class DH,
5.000%, 01/15/2026		5,444		5,411
Series 2010-3661, Class B,
4.000%, 04/15/2025		1,071		1,066
Series 2010-3710, Class MG,
4.000%, 08/15/2025^(b)		7,136		7,074
Series 2011-3829, Class BE,
3.500%, 03/15/2026		3,818		3,767
Series 2013-4177, Class NB,
1.500%, 03/15/2028		9,648		9,193
				75,465
Ginnie Mae
Series 2010-101, Class GU,
4.000%, 08/20/2025^(b)		2,747		2,720
Series 2013-53, Class KN,
1.500%, 08/20/2025		2,288		2,252
				4,972

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $308,315)				299,567

	Principal Amount		Value (Note 2)
COMMERCIAL MORTGAGE-BACKED SECURITIES (0.02%)

Freddie Mac Multifamily Structured Pass Through Certificates
Series 2015-KF07, Class A,
30D US SOFR + 0.40%, 02/25/2025^(a)		8,657		8,652
Series 2017-K728, Class A2,
3.064%, 08/25/2024^(a)		53,239		53,038
Series 2017-KL1P, Class A1P,
2.544%, 10/25/2025		78,861		77,402
				139,092

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES
(Cost $139,588)				139,092

	Principal Amount		Value (Note 2)
MORTGAGE-BACKED SECURITIES (0.84%)

Fannie Mae Pool
Series 2011-,
3.500%, 12/01/2026		93,529		91,832

	Principal Amount		Value (Note 2)
Series 2011-MA0717,
3.500%, 04/01/2026	$	88,371	$	86,839
Series 2012-AM1076,
2.920%, 10/01/2024		216,124		214,414
Series 2014-AM7158,
3.150%, 11/01/2024		175,000		173,410
Series 2015-AM9288,
2.930%, 07/01/2025		3,633,171		3,556,165
Series 2016-AL9448,
2.935%, 07/01/2026^(a)		179,174		173,335
Series 2016-AN1413,
2.490%, 05/01/2026		162,942		156,766
Series 2016-AN2079,
2.910%, 07/01/2026		34,035		32,820
Series 2021-,
1.580%, 12/01/2028		110,000		98,366
				4,583,947
Freddie Mac Gold Pool
Series 2011-,
3.500%, 02/01/2026		106,635		104,905
Series 2012-T40090,
3.000%, 05/01/2027		35,544		34,692
				139,597
Freddie Mac Pool
Series 2018-,
3.500%, 04/01/2028		85,716		83,854

Ginnie Mae I Pool
Series 2010-745222,
4.500%, 07/15/2025		20,488		20,359
Series 2013-AF1057,
2.000%, 07/15/2028		50,232		47,882
				68,241
Ginnie Mae II Pool
Series 2010-4898,
3.000%, 12/20/2025		16,228		15,911
Series 2011-4954,
3.000%, 02/20/2026		11,908		11,662
				27,573

TOTAL MORTGAGE-BACKED SECURITIES
(Cost $4,966,026)				4,903,212

	Principal Amount		Value (Note 2)
CORPORATE BONDS (74.15%)
Aerospace & Defense (4.05%)
BAE Systems PLC
5.00%, 03/26/2027^(c)	$	4,500,000	$	4,523,139
Boeing Co.
2.20%, 02/04/2026		5,000,000		4,759,993
6.26%, 05/01/2027^(c)		5,750,000		5,877,073
L3Harris Technologies, Inc.
5.40%, 01/15/2027		6,500,000		6,594,790
RTX Corp.
5.75%, 11/08/2026		2,000,000		2,042,367
Total Aerospace & Defense				23,797,362

Auto Parts Manufacturing (0.17%)
Aptiv PLC / Aptiv Corp.
2.40%, 02/18/2025		1,000,000		981,921

Automobiles Manufacturing (6.78%)
Ford Motor Credit Co. LLC
3.38%, 11/13/2025		6,465,000		6,305,042
5.85%, 05/17/2027		3,000,000		3,032,308
6.95%, 03/06/2026		3,750,000		3,832,626
General Motors Financial Co., Inc.
5.35%, 07/15/2027		5,000,000		5,052,452
5.40%, 05/08/2027		1,500,000		1,517,093
6.05%, 10/10/2025		7,000,000		7,070,481
SOFRINDX + 1.30%, 04/07/2025^(a)(d)		2,000,000		2,011,764
Hyundai Capital America
5.45%, 06/24/2026^(c)		3,000,000		3,024,437
Nissan Motor Acceptance Co. LLC
6.95%, 09/15/2026^(c)		3,350,000		3,452,735
Volkswagen Group of America Finance LLC
5.40%, 03/20/2026^(c)		4,400,000		4,423,998
Total Automobiles Manufacturing				39,722,936

Banks (10.05%)
Bank of Ireland Group PLC
1Y US TI + 2.65%, 09/16/2026^(a)(c)		4,000,000		4,036,664
Bank of New York Mellon
1D US SOFR + 0.80%, 11/21/2025^(a)		5,000,000		4,999,087
Citibank NA
5.44%, 04/30/2026		3,000,000		3,028,412
Citizens Bank NA
1D US SOFR + 1.45%, 10/24/2025^(a)		4,810,000		4,799,192
Danske Bank A/S
1Y US TI + 2.10%, 01/09/2026^(a)(c)		8,535,000		8,570,770
Discover Bank
2.45%, 09/12/2024		3,029,000		3,017,522

	Principal Amount		Value (Note 2)
Fifth Third Bank NA
SOFRINDX + 1.23%, 10/27/2025^(a)(d)	$	2,000,000	$	2,000,810
Goldman Sachs Bank USA
1D US SOFR + 0.777%, 03/18/2027^(a)		6,000,000		6,025,464
KeyCorp
SOFRINDX + 1.25%, 05/23/2025^(a)(d)		1,000,000		1,001,052
Morgan Stanley Bank NA
1D US SOFR + 1.08%, 01/14/2028^(a)		3,500,000		3,508,465
NatWest Markets PLC
0.80%, 08/12/2024^(c)		1,000,000		998,545
Synovus Financial Corp.
5.20%, 08/11/2025		3,450,000		3,432,269
Truist Bank
3.30%, 05/15/2026		3,500,000		3,387,197
Wells Fargo & Co.
1D US SOFR + 1.07%, 04/22/2028^(a)		5,000,000		5,098,232
Wells Fargo Bank NA
4.81%, 01/15/2026		5,000,000		5,002,098
Total Banks				58,905,779

Biotechnology (1.08%)
Amgen, Inc.
5.15%, 03/02/2028		3,300,000		3,346,009
5.51%, 03/02/2026		3,000,000		3,000,043
Total Biotechnology				6,346,052

Cable & Satellite (0.17%)
Cox Communications, Inc.
5.45%, 09/15/2028^(c)		1,000,000		1,020,936

Casinos & Gaming (1.18%)
Las Vegas Sands Corp.
5.90%, 06/01/2027		3,000,000		3,048,341
6.00%, 08/15/2029		1,000,000		1,018,959
MGM Resorts International
5.75%, 06/15/2025		2,850,000		2,848,313
Total Casinos & Gaming				6,915,613

Chemicals (3.70%)
Avient Corp.
5.75%, 05/15/2025^(c)		4,721,000		4,714,214
Eastman Chemical Co.
5.00%, 08/01/2029		4,000,000		4,013,828
EIDP, Inc.
4.50%, 05/15/2026		5,000,000		4,982,478
LG Chem, Ltd.
4.38%, 07/14/2025^(c)		1,500,000		1,488,219

	Principal Amount		Value (Note 2)
Sherwin-Williams Co.
4.05%, 08/08/2024	$	3,000,000	$	2,998,901
4.25%, 08/08/2025		3,000,000		2,974,676
Westlake Corp.
0.88%, 08/15/2024		500,000		499,028
Total Chemicals				21,671,344

Commercial Finance (1.11%)
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
6.50%, 07/15/2025		3,400,000		3,429,105
Penske Truck Leasing Co. Lp / PTL Finance Corp.
5.75%, 05/24/2026^(c)		3,000,000		3,031,324
Total Commercial Finance				6,460,429

Consumer Finance (3.09%)
American Express Co.
2.25%, 03/04/2025		3,000,000		2,947,742
1D US SOFR + 0.75%, 04/23/2027^(a)		5,000,000		5,057,584
1D US SOFR + 0.93%, 07/26/2028^(a)		3,000,000		3,020,732
SOFRINDX + 1.28%, 07/27/2029^(a)(d)		3,000,000		3,053,564
Capital One Financial Corp.
1D US SOFR + 1.56%, 07/26/2030^(a)		4,000,000		4,038,147
Total Consumer Finance				18,117,769

Consumer Products (0.67%)
Haleon UK Capital PLC
3.13%, 03/24/2025		4,000,000		3,940,464

Design, Manufacturing & Distribution (0.51%)
TD SYNNEX Corp.
1.25%, 08/09/2024		3,000,000		2,995,099

Diversified Banks (2.37%)
Bank of America Corp.
1D US SOFR + 1.29%, 01/20/2027^(a)		4,000,000		4,003,452
JPMorgan Chase & Co.
1D US SOFR + 1.07%, 12/15/2025^(a)		3,875,000		3,876,914
1D US SOFR + 1.19%, 01/23/2028^(a)		3,000,000		3,013,952
Toronto-Dominion Bank
Series GMTN
4.98%, 04/05/2027		3,000,000		3,023,145
Total Diversified Banks				13,917,463

	Principal Amount		Value (Note 2)
Electrical Equipment Manufacturing (0.54%)
Vontier Corp.
1.80%, 04/01/2026	$	3,350,000	$	3,165,027

Entertainment Content (1.11%)
Warnermedia Holdings, Inc.
6.41%, 03/15/2026		6,500,000		6,499,849

Exploration & Production (2.11%)
Diamondback Energy, Inc.
5.20%, 04/18/2027		1,000,000		1,011,206
Occidental Petroleum Corp.
5.00%, 08/01/2027		2,000,000		2,008,270
5.20%, 08/01/2029		4,000,000		4,027,020
8.50%, 07/15/2027		4,900,000		5,309,841
Total Exploration & Production				12,356,337

Financial Services (10.43%)
Charles Schwab Corp.
5.88%, 08/24/2026		5,000,000		5,094,890
SOFRINDX + 1.05%, 03/03/2027^(a)(d)		2,471,000		2,488,259
Goldman Sachs Group, Inc.
1D US SOFR + 1.075%, 08/10/2026^(a)		7,000,000		7,035,238
LPL Holdings, Inc.
5.70%, 05/20/2027		2,900,000		2,931,435
Lseg US Fin Corp.
4.88%, 03/28/2027^(c)		2,500,000		2,505,050
Morgan Stanley
1D US SOFR + 1.295%, 01/28/2027^(a)		2,000,000		2,002,903
1D US SOFR + 1.59%, 04/20/2029^(a)		3,000,000		3,030,848
Nasdaq, Inc.
5.65%, 06/28/2025		500,000		501,600
National Securities Clearing Corp.
4.90%, 06/26/2029^(c)		5,000,000		5,076,206
5.05%, 11/21/2024^(c)		7,000,000		6,990,569
5.15%, 06/26/2026^(c)		5,000,000		5,042,062
State Street Corp.
1D US SOFR + 1.353%, 11/04/2026^(a)		3,250,000		3,276,933
UBS Group AG
1Y US TI + 1.60%, 08/05/2025^(a)(c)		5,000,000		4,999,566
1Y US TI + 1.60%, 12/22/2027^(a)(c)		7,000,000		7,194,070
USAA Capital Corp.
3.38%, 05/01/2025^(c)		3,000,000		2,960,392
Total Financial Services				61,130,021

	Principal Amount		Value (Note 2)
Food & Beverage (1.37%)
Campbell Soup Co.
5.20%, 03/19/2027	$	3,000,000	$	3,044,307
5.30%, 03/20/2026		1,000,000		1,006,392
JDE Peet's NV
0.80%, 09/24/2024^(c)		1,000,000		991,448
Mondelez International Holdings Netherlands BV
4.25%, 09/15/2025^(c)		3,000,000		2,974,446
Total Food & Beverage				8,016,593

Health Care Facilities & Services (1.84%)
Cardinal Health, Inc.
5.13%, 02/15/2029		3,000,000		3,043,193
HCA, Inc.
5.20%, 06/01/2028		2,000,000		2,021,340
5.38%, 02/01/2025		5,700,000		5,689,979
Total Health Care Facilities & Services				10,754,512

Industrial Other (1.39%)
Element Fleet Management Corp.
6.27%, 06/26/2026^(c)		5,800,000		5,909,047
Quanta Services, Inc.
0.95%, 10/01/2024		2,250,000		2,229,329
Total Industrial Other				8,138,376

Leisure Products Manufacturing (0.61%)
Brunswick Corp.
0.85%, 08/18/2024		2,000,000		1,994,857
Polaris, Inc.
6.95%, 03/15/2029		1,492,000		1,585,923
Total Leisure Products Manufacturing				3,580,780

Managed Care (0.34%)
UnitedHealth Group, Inc.
4.75%, 07/15/2026		2,000,000		2,006,973

*Medical Equipment & Devices Manufacturing (3.41%)*
Alcon Finance Corp.
2.75%, 09/23/2026^(c)		6,150,000		5,880,156
GE HealthCare Technologies, Inc.
5.55%, 11/15/2024		2,000,000		1,999,312
5.60%, 11/15/2025		3,000,000		3,018,027
Solventum Corp.
5.40%, 03/01/2029^(c)		2,000,000		2,025,317
5.45%, 02/25/2027^(c)		5,000,000		5,047,821
Zimmer Biomet Holdings, Inc.
1.45%, 11/22/2024		2,000,000		1,974,021
Total Medical Equipment & Devices Manufacturing				19,944,654

Metals & Mining (1.12%)
Steel Dynamics, Inc.
5.00%, 12/15/2026		6,592,000		6,589,527

	Principal Amount		Value (Note 2)
Pharmaceuticals (1.37%)
AbbVie, Inc.
4.80%, 03/15/2027	$	5,000,000	$	5,033,903
Bristol-Myers Squibb Co.
4.95%, 02/20/2026		3,000,000		3,014,983
Total Pharmaceuticals				8,048,886

Pipeline (2.76%)
Buckeye Partners LP
4.35%, 10/15/2024		918,000		915,564
Columbia Pipelines Holding Co. LLC
6.04%, 08/15/2028^(c)		1,000,000		1,039,630
6.06%, 08/15/2026^(c)		1,500,000		1,523,949
EnLink Midstream LLC
5.63%, 01/15/2028^(c)		660,000		662,804
Gray Oak Pipeline LLC
2.60%, 10/15/2025^(c)		6,370,000		6,168,289
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
6.50%, 07/15/2027		5,786,000		5,847,887
Total Pipeline				16,158,123

Property & Casualty Insurance (0.86%)
Chubb INA Holdings LLC
4.65%, 08/15/2029		5,000,000		5,019,999

Real Estate (1.01%)
VICI Properties LP
4.38%, 05/15/2025		6,000,000		5,943,661

Refining & Marketing (0.17%)
HF Sinclair Corp.
6.38%, 04/15/2027^(c)		1,000,000		1,010,957

Retail - Consumer Discretionary (1.38%)
AutoZone, Inc.
5.10%, 07/15/2029		3,000,000		3,036,859
Home Depot, Inc.
4.88%, 06/25/2027		3,000,000		3,033,945
5.15%, 06/25/2026		2,000,000		2,021,204
Total Retail - Consumer Discretionary				8,092,008

Semiconductors (0.69%)
Broadcom, Inc.
5.05%, 07/12/2027		4,000,000		4,036,672

Software & Services (0.25%)
VMware LLC
4.65%, 05/15/2027		1,500,000		1,493,214

	Principal Amount		Value (Note 2)
Supermarkets & Pharmacies (0.92%)
Albertsons Cos. Inc / Safeway, Inc. / New Albertsons LP / Albertsons LLC
6.50%, 02/15/2028^(c)	$	5,330,000	$	5,411,138

Transportation & Logistics (0.52%)
Daimler Truck Finance North America LLC
5.13%, 09/25/2029^(c)		1,000,000		1,011,386
5.60%, 08/08/2025^(c)		2,000,000		2,007,946
Total Transportation & Logistics				3,019,332

Utilities (3.76%)
American Electric Power Co., Inc.
5.70%, 08/15/2025		3,000,000		3,011,862
Black Hills Corp.
1.04%, 08/23/2024		3,000,000		2,990,939
DTE Energy Co.
4.95%, 07/01/2027		2,000,000		2,007,834
Duke Energy Corp.
5.00%, 12/08/2025		6,000,000		6,008,001
NextEra Energy Capital Holdings, Inc.
6.05%, 03/01/2025		3,000,000		3,012,799
Sempra
5.40%, 08/01/2026		2,000,000		2,018,532
Southern Co.
4.48%, 08/01/2024^(b)		3,000,000		3,000,000
Total Utilities				22,049,967

Waste & Environment Services & Equipment (0.40%)
GFL Environmental, Inc.
5.13%, 12/15/2026^(c)		2,340,000		2,321,049

Wireless Telecommunications Services (0.86%)
T-Mobile USA, Inc.
4.80%, 07/15/2028		5,000,000		5,016,345

TOTAL CORPORATE BONDS
(Cost $432,361,289)				434,597,167

	Principal Amount		Value (Note 2)
GOVERNMENT BONDS (22.09%)
U.S. Treasury Bonds (22.09%)
United States Treasury Notes
4.25%, 03/15/2027	$	28,484,000	$	28,579,131
4.25%, 06/30/2029		5,659,000		5,738,138
4.38%, 07/15/2027		3,100,000		3,156,309
4.50%, 03/31/2026		13,938,000		13,959,234
4.50%, 04/15/2027		22,386,000		22,605,051
4.50%, 05/15/2027		16,615,000		16,788,289
4.50%, 05/31/2029		11,249,000		11,530,664
4.63%, 02/28/2026		860,000		862,318
4.63%, 03/15/2026		11,941,000		11,980,881
4.63%, 04/30/2029		8,249,000		8,492,764
4.88%, 05/31/2026		5,687,000		5,740,205
Total U.S. Treasury Bonds				129,432,984

TOTAL GOVERNMENT BONDS
(Cost $127,935,943)				129,432,984

	7-Day Yield			Shares		Value (Note 2)
SHORT TERM INVESTMENTS (2.67%)

Money Market Fund (2.67%)
Morgan Stanley Institutional Liquidity Funds - Government Portfolio		5.21	%		15,671,336		15,671,336

TOTAL SHORT TERM INVESTMENTS
(Cost $15,671,336)							15,671,336

TOTAL INVESTMENTS (100.08%)
(Cost $582,886,036)						$	586,546,343

Liabilities In Excess Of Other Assets (-0.08%)							(488,013	)

NET ASSETS (100.00%)						$	586,058,330

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

SOFRINDX - Secured Overnight Financing Rate Index

TI – Treasury Index

Reference Rates:

30D US SOFR - 30 Day SOFR as of July 31, 2024 was 5.34%

1D US SOFR - 1 Day SOFR as of July 31, 2024 was 5.38%

1M US SOFR - 1 Month SOFR as of July 31, 2024 was 5.34%

1Y US TI - 1 Year US TI as of July 31, 2024 was 4.73%

^(a)	Floating or variable rate security. The reference rate is described above. The rate in effect as of July 31, 2024 is based on the reference rate plus the displayed spread as of the security's last reset date.
^(b)	Step bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect as of July 31, 2024.
^(c)	Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2024, the aggregate market value of those securities was $123,915,352, representing 21.14% of net assets.
^(d)	The SOFRINDX is a compounded average of the daily Secured Overnight Financing Rate determined by reference to the SOFR Index for any interest period.

See Notes to Quarterly Statement of Investments.

ALPS | Smith Total Return Bond Fund

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Principal Amount		Value (Note 2)
BANK LOANS (2.28%)

Aerospace & Defense (0.53%)
TransDigm, Inc.
3M US SOFR + 3.25%, 02/28/2031^(a)	$	16,125,000	$	16,184,501

Casinos & Gaming (0.24%)
Caesars Entertainment, Inc.
1M US SOFR + 2.75%, 02/06/2031^(a)		7,431,258		7,457,118

Consumer Finance (0.50%)
Boost Newco Borrower LLC
1D US SOFR + 3.00%, 01/31/2031^(a)		15,240,000		15,296,007

Financial Services (0.07%)
Jane Street Group LLC
1M US SOFR + 2.50%, 01/26/2028^(a)		2,290,067		2,297,739

Industrials (0.40%)
Chart Industries, Inc.
1M US SOFR + 3.25%, 03/18/2030^(a)		7,300,000		7,341,099
GFL Environmental 6/24
3M US SOFR + 2.00%, 06/27/2031^(a)		4,944,000		4,966,001
Total Industrials				12,307,100

Pipeline (0.30%)
Buckeye Partners LP
1M US SOFR + 2.50%, 11/22/2030^(a)		9,294,000		9,312,495

Travel & Lodging (0.24%)
Carnival Corp.
1M US SOFR + 2.75%, 08/09/2027^(a)		7,179,200		7,238,644

TOTAL BANK LOANS
(Cost $70,099,417)				70,093,604

	Principal Amount		Value (Note 2)
COLLATERALIZED MORTGAGE OBLIGATIONS (8.91%)

Fannie Mae
Series 1997-76, Class FO,
30D US SOFR + 0.61%, 09/17/2027^(a)	$	6,267	$	6,171
Series 1999-58, Class F,
30D US SOFR + 0.51%, 11/18/2029^(a)		23,671		23,538
Series 2000-40, Class FA,
30D US SOFR + 0.61%, 07/25/2030^(a)		9,957		9,939
Series 2000-45, Class F,
30D US SOFR + 0.56%, 12/25/2030^(a)		8,773		8,730
Series 2001-27, Class F,
30D US SOFR + 0.61%, 06/25/2031^(a)		5,620		5,536
Series 2001-29, Class Z,
6.500%, 07/25/2031		41,876		42,730
Series 2001-51, Class OD,
6.500%, 10/25/2031		379		379
Series 2001-52, Class XZ,
6.500%, 10/25/2031		16,129		16,676
Series 2001-59, Class F,
30D US SOFR + 0.71%, 11/25/2031^(a)		70,668		70,647
Series 2001-60, Class OF,
30D US SOFR + 1.06%, 10/25/2031^(a)		114,510		115,701
Series 2001-63, Class FD,
30D US SOFR + 0.71%, 12/18/2031^(a)		7,420		7,424
Series 2001-63, Class TC,
6.000%, 12/25/2031		14,050		14,465
Series 2001-68, Class PH,
6.000%, 12/25/2031		11,774		12,137
Series 2001-71, Class FE,
30D US SOFR + 0.76%, 11/25/2031^(a)		51,032		51,087
Series 2001-71, Class FS,
30D US SOFR + 0.71%, 11/25/2031^(a)		41,734		41,724
Series 2001-81, Class GE,
6.000%, 01/25/2032		9,819		10,114
Series 2002-11, Class JF,
30D US SOFR + 0.84%, 03/25/2032^(a)		31,797		31,899

	Principal Amount		Value (Note 2)
Series 2002-12, Class FH,
30D US SOFR + 1.16%, 01/25/2032^(a)	$	33,700	$	33,980
Series 2002-13, Class FE,
30D US SOFR + 1.01%, 03/25/2032^(a)		29,156		29,284
Series 2002-16, Class TM,
7.000%, 04/25/2032		8,649		8,932
Series 2002-17, Class JF,
30D US SOFR + 1.11%, 04/25/2032^(a)		18,453		18,646
Series 2002-18, Class FD,
30D US SOFR + 0.91%, 02/25/2032^(a)		33,326		33,437
Series 2002-23, Class FA,
30D US SOFR + 1.01%, 04/25/2032^(a)		26,959		27,218
Series 2002-34, Class EO,
–%, 05/18/2032^(b)		19,606		18,626
Series 2002-36, Class FS,
30D US SOFR + 0.61%, 06/25/2032^(a)		6,609		6,605
Series 2002-44, Class FJ,
30D US SOFR + 1.11%, 04/25/2032^(a)		47,400		47,817
Series 2002-47, Class FC,
30D US SOFR + 0.71%, 11/25/2031^(a)		9,745		9,721
Series 2002-48, Class F,
30D US SOFR + 1.11%, 07/25/2032^(a)		29,470		29,730
Series 2002-49, Class FC,
30D US SOFR + 1.11%, 11/18/2031^(a)		27,494		27,723
Series 2002-60, Class FV,
30D US SOFR + 1.11%, 04/25/2032^(a)		68,494		69,213
Series 2002-63, Class EZ,
6.000%, 10/25/2032		5,608		5,800
Series 2002-64, Class PG,
5.500%, 10/25/2032		39,289		40,169
Series 2002-68, Class AF,
30D US SOFR + 1.11%, 10/25/2032^(a)		12,984		13,122
Series 2002-7, Class FC,
30D US SOFR + 0.86%, 01/25/2032^(a)		39,846		39,994
Series 2002-71, Class AQ,
4.000%, 11/25/2032		26,230		25,485

	Principal Amount		Value (Note 2)
Series 2002-8, Class FA,
30D US SOFR + 0.86%, 03/18/2032^(a)	$	19,663	$	19,769
Series 2002-80, Class CZ,
4.500%, 09/25/2032		106,250		100,584
Series 2002-9, Class FW,
30D US SOFR + 0.66%, 03/25/2032^(a)		10,095		9,963
Series 2002-91, Class F,
30D US SOFR + 0.66%, 01/25/2033^(a)		14,389		14,360
Series 2003-107, Class FD,
30D US SOFR + 0.61%, 11/25/2033^(a)		9,465		9,448
Series 2003-110, Class CK,
3.000%, 11/25/2033		15,780		15,220
Series 2003-116, Class FA,
30D US SOFR + 0.51%, 11/25/2033^(a)		18,987		18,914
Series 2003-119, Class FH,
30D US SOFR + 0.61%, 12/25/2033^(a)		28,533		28,479
Series 2003-119, Class ZP,
4.000%, 12/25/2033		45,888		44,074
Series 2003-128, Class MF,
30D US SOFR + 0.71%, 01/25/2034^(a)		38,535		38,588
Series 2003-131, Class CH,
5.500%, 01/25/2034		60,921		62,768
Series 2003-134, Class FC,
30D US SOFR + 0.71%, 12/25/2032^(a)		21,832		21,862
Series 2003-14, Class AN,
3.500%, 03/25/2033		18,856		18,579
Series 2003-14, Class AP,
4.000%, 03/25/2033		28,283		27,908
Series 2003-19, Class MB,
4.000%, 05/25/2031		24,852		24,003
Series 2003-21, Class OG,
4.000%, 01/25/2033		13,425		13,104
Series 2003-22, Class BZ,
6.000%, 04/25/2033		20,054		20,617
Series 2003-27, Class EK,
5.000%, 04/25/2033		21,412		21,645
Series 2003-30, Class JQ,
5.500%, 04/25/2033		19,724		20,244
Series 2003-32, Class UJ,
5.500%, 05/25/2033		34,034		34,983
Series 2003-41, Class OZ,
3.750%, 05/25/2033		171,728		158,341

	Principal Amount		Value (Note 2)
Series 2003-41, Class OB,
4.000%, 05/25/2033	$	100,571	$	95,599
Series 2003-42, Class JH,
5.500%, 05/25/2033		50,475		51,845
Series 2003-46, Class PJ,
5.500%, 06/25/2033		25,949		26,677
Series 2003-47, Class PE,
5.750%, 06/25/2033		35,869		37,032
Series 2003-64, Class JK,
3.500%, 07/25/2033		36,976		35,840
Series 2003-64, Class ZC,
5.000%, 07/25/2033		20,929		21,169
Series 2003-71, Class HD,
5.500%, 08/25/2033		86,507		87,972
Series 2003-76, Class EZ,
5.000%, 08/25/2033		106,904		108,529
Series 2003-94, Class CE,
5.000%, 10/25/2033		3,898		3,847
Series 2004-10, Class ZB,
6.000%, 02/25/2034		149,179		154,771
Series 2004-101, Class TB,
5.500%, 01/25/2035		90,558		93,028
Series 2004-14, Class QB,
5.250%, 03/25/2034		120,934		123,490
Series 2004-17, Class BA,
6.000%, 04/25/2034		118,388		123,930
Series 2004-17, Class DZ,
5.500%, 04/25/2034		11,060		11,182
Series 2004-36, Class FA,
30D US SOFR + 0.51%, 05/25/2034^(a)		18,905		18,804
Series 2004-36, Class CB,
5.000%, 05/25/2034		70,598		71,431
Series 2004-53, Class FC,
30D US SOFR + 0.56%, 07/25/2034^(a)		143,400		142,856
Series 2004-54, Class FL,
30D US SOFR + 0.51%, 07/25/2034^(a)		93,295		93,017
Series 2004-60, Class AC,
5.500%, 04/25/2034		69,477		68,764
Series 2004-68, Class LC,
5.000%, 09/25/2029		26,165		26,262
Series 2004-77, Class AY,
4.500%, 10/25/2034		13,229		13,149
Series 2004-82, Class HK,
5.500%, 11/25/2034		37,134		38,305

	Principal Amount		Value (Note 2)
Series 2004-92, Class FD,
30D US SOFR + 0.46%, 05/25/2034^(a)	$	6,117	$	6,115
Series 2004-92, Class TB,
5.500%, 12/25/2034		61,172		63,165
Series 2005-110, Class MP,
5.500%, 12/25/2035		11,905		12,113
Series 2005-120, Class FE,
30D US SOFR + 0.63%, 01/25/2036^(a)		16,385		16,247
Series 2005-122, Class PY,
6.000%, 01/25/2036		232,401		240,529
Series 2005-17, Class EX,
5.250%, 03/25/2035		25,000		24,641
Series 2005-17, Class EZ,
4.500%, 03/25/2035		167,438		162,552
Series 2005-29, Class ZA,
5.500%, 04/25/2035		928,025		960,564
Series 2005-3, Class CH,
5.250%, 02/25/2035		64,704		66,304
Series 2005-35, Class DZ,
5.000%, 04/25/2035		105,140		106,431
Series 2005-48, Class TD,
5.500%, 06/25/2035		98,415		101,890
Series 2005-52, Class FE,
30D US SOFR + 1.91%, 05/25/2035^(a)		85,397		87,554
Series 2005-62, Class GZ,
5.750%, 07/25/2035		326,016		337,444
Series 2005-64, Class PL,
5.500%, 07/25/2035		48,755		49,672
Series 2005-68, Class PG,
5.500%, 08/25/2035		21,172		21,581
Series 2005-68, Class BE,
5.250%, 08/25/2035		55,330		55,804
Series 2005-68, Class CZ,
5.500%, 08/25/2035		236,650		243,345
Series 2005-69, Class GZ,
4.500%, 08/25/2035		12,930		12,492
Series 2005-7, Class MZ,
4.750%, 02/25/2035		20,355		19,914
Series 2005-70, Class NA,
5.500%, 08/25/2035		9,061		9,249
Series 2005-70, Class KP,
5.000%, 06/25/2035		41,814		42,320
Series 2005-72, Class FB,
30D US SOFR + 0.36%, 08/25/2035^(a)		8,446		8,365
Series 2005-79, Class DB,
5.500%, 09/25/2035		63,679		65,546

	Principal Amount		Value (Note 2)
Series 2005-84, Class XM,
5.750%, 10/25/2035	$	43,834	$	44,809
Series 2005-89, Class F,
30D US SOFR + 0.41%, 10/25/2035^(a)		15,909		15,758
Series 2005-99, Class AC,
5.500%, 12/25/2035		541,000		552,687
Series 2005-99, Class FA,
30D US SOFR + 0.41%, 11/25/2035^(a)		10,840		10,815
Series 2005-99, Class ZA,
5.500%, 12/25/2035		125,334		127,025
Series 2006-112, Class QC,
5.500%, 11/25/2036		16,370		16,932
Series 2006-114, Class HE,
5.500%, 12/25/2036		74,059		76,391
Series 2006-115, Class EF,
30D US SOFR + 0.47%, 12/25/2036^(a)		12,664		12,499
Series 2006-16, Class HZ,
5.500%, 03/25/2036		197,054		204,134
Series 2006-39, Class EF,
30D US SOFR + 0.51%, 05/25/2036^(a)		12,279		12,169
Series 2006-46, Class UD,
5.500%, 06/25/2036		32,062		32,924
Series 2006-48, Class TF,
30D US SOFR + 0.51%, 06/25/2036^(a)		31,628		31,271
Series 2006-48, Class DZ,
6.000%, 06/25/2036		175,080		182,505
Series 2006-56, Class F,
30D US SOFR + 0.41%, 07/25/2036^(a)		8,797		8,724
Series 2006-62, Class FX,
30D US SOFR + 1.86%, 07/25/2036^(a)		161,158		161,035
Series 2006-63, Class QH,
5.500%, 07/25/2036		27,167		28,110
Series 2006-70, Class AF,
30D US SOFR + 0.51%, 08/25/2036^(a)		63,397		62,653
Series 2006-71, Class ZH,
6.000%, 07/25/2036		33,023		34,627
Series 2006-95, Class FH,
30D US SOFR + 0.56%, 10/25/2036^(a)		63,273		62,649

	Principal Amount		Value (Note 2)
Series 2007-100, Class YF,
30D US SOFR + 0.66%, 10/25/2037^(a)	$	13,108	$	13,017
Series 2007-109, Class GF,
30D US SOFR + 0.79%, 12/25/2037^(a)		38,215		38,136
Series 2007-111, Class FC,
30D US SOFR + 0.71%, 12/25/2037^(a)		25,914		25,868
Series 2007-117, Class FM,
30D US SOFR + 0.81%, 01/25/2038^(a)		155,102		155,017
Series 2007-12, Class BZ,
6.000%, 03/25/2037		474,557		477,040
Series 2007-12, Class ZA,
6.000%, 03/25/2037		157,566		153,812
Series 2007-14, Class GZ,
5.500%, 03/25/2037		140,072		146,112
Series 2007-18, Class MZ,
6.000%, 03/25/2037		123,725		129,698
Series 2007-22, Class FC,
30D US SOFR + 0.53%, 03/25/2037^(a)		67,302		66,064
Series 2007-26, Class ZB,
5.500%, 04/25/2037		226,431		227,192
Series 2007-30, Class MB,
4.250%, 04/25/2037		49,792		49,191
Series 2007-33, Class HE,
5.500%, 04/25/2037		33,088		34,443
Series 2007-34, Class F,
30D US SOFR + 0.50%, 04/25/2037^(a)		19,244		18,983
Series 2007-41, Class FA,
30D US SOFR + 0.51%, 05/25/2037^(a)		6,738		6,646
Series 2007-51, Class PB,
5.500%, 06/25/2037		23,617		23,112
Series 2007-51, Class CP,
5.500%, 06/25/2037		23,291		23,675
Series 2007-55, Class PH,
6.000%, 06/25/2047		256,424		271,219
Series 2007-57, Class FA,
30D US SOFR + 0.34%, 06/25/2037^(a)		17,641		17,428
Series 2007-6, Class FC,
30D US SOFR + 0.53%, 02/25/2037^(a)		35,089		34,615
Series 2007-63, Class FC,
30D US SOFR + 0.46%, 07/25/2037^(a)		17,074		16,816

	Principal Amount		Value (Note 2)
Series 2007-63, Class VZ,
5.500%, 07/25/2037	$	152,857	$	153,790
Series 2007-65, Class ZE,
5.500%, 07/25/2037		549,847		551,714
Series 2007-65, Class KF,
30D US SOFR + 0.49%, 07/25/2037^(a)		49,167		48,470
Series 2007-70, Class FA,
30D US SOFR + 0.46%, 07/25/2037^(a)		19,485		19,209
Series 2007-77, Class JE,
6.000%, 08/25/2037		279,801		289,371
Series 2007-85, Class FC,
30D US SOFR + 0.65%, 09/25/2037^(a)		83,904		83,562
Series 2007-85, Class FL,
30D US SOFR + 0.65%, 09/25/2037^(a)		28,113		27,910
Series 2007-86, Class FA,
30D US SOFR + 0.56%, 09/25/2037^(a)		24,261		24,083
Series 2007-9, Class FB,
30D US SOFR + 0.46%, 03/25/2037^(a)		19,298		19,001
Series 2008-18, Class FA,
30D US SOFR + 1.01%, 03/25/2038^(a)		145,588		146,605
Series 2008-24, Class WD,
5.500%, 02/25/2038		153,997		155,801
Series 2008-25, Class EF,
30D US SOFR + 1.06%, 04/25/2038^(a)		34,552		34,887
Series 2008-27, Class B,
5.500%, 04/25/2038		638,406		664,023
Series 2008-46, Class LA,
5.500%, 06/25/2038		9,288		9,327
Series 2008-66, Class FT,
30D US SOFR + 1.06%, 08/25/2038^(a)		19,713		19,782
Series 2008-86, Class FC,
30D US SOFR + 1.21%, 12/25/2038^(a)		140,661		142,501
Series 2009-103, Class FM,
30D US SOFR + 0.81%, 11/25/2039^(a)		28,013		28,056
Series 2009-104, Class FA,
30D US SOFR + 0.91%, 12/25/2039^(a)		33,230		33,347

	Principal Amount		Value (Note 2)
Series 2009-11, Class MP,
7.000%, 03/25/2049	$	98,838	$	106,346
Series 2009-110, Class FG,
30D US SOFR + 0.86%, 01/25/2040^(a)		71,092		71,293
Series 2009-111, Class CY,
5.000%, 03/25/2038		133,000		134,386
Series 2009-12, Class LA,
14.978%, 03/25/2039^(a)		256,078		309,553
Series 2009-12, Class LD,
16.622%, 03/25/2039^(a)		340,344		468,068
Series 2009-19, Class ZA,
6.500%, 04/25/2039		408,458		427,337
Series 2009-36, Class MX,
5.000%, 06/25/2039		58,000		58,119
Series 2009-39, Class Z,
6.000%, 06/25/2039		1,721,725		1,771,340
Series 2009-42, Class TZ,
4.500%, 03/25/2039		221,186		212,329
Series 2009-47, Class BN,
4.500%, 07/25/2039		28,574		28,414
Series 2009-62, Class WA,
5.585%, 08/25/2039^(a)		86,796		86,864
Series 2009-68, Class FD,
30D US SOFR + 1.36%, 09/25/2039^(a)		43,581		43,903
Series 2009-70, Class CO,
–%, 01/25/2037^(b)		63,030		52,805
Series 2009-70, Class FA,
30D US SOFR + 1.31%, 09/25/2039^(a)		20,901		20,879
Series 2009-86, Class OT,
–%, 10/25/2037^(b)		26,855		22,499
Series 2009-87, Class FG,
30D US SOFR + 0.86%, 11/25/2039^(a)		47,143		47,281
Series 2009-90, Class UZ,
4.500%, 11/25/2039		678,878		648,596
Series 2010-1, Class WA,
6.263%, 02/25/2040^(a)		12,810		13,023
Series 2010-1, Class EL,
4.500%, 02/25/2040		237,799		233,707
Series 2010-102, Class B,
4.500%, 07/25/2040		214,409		210,908
Series 2010-102, Class HA,
4.000%, 09/25/2050		57,180		53,801
Series 2010-103, Class DZ,
4.500%, 09/25/2040		227,944		221,799
Series 2010-103, Class PJ,
4.500%, 09/25/2040		27,539		27,450

	Principal Amount		Value (Note 2)
Series 2010-111, Class FC,
30D US SOFR + 0.63%, 10/25/2040^(a)	$	40,214	$	39,842
Series 2010-118, Class LZ,
4.750%, 10/25/2040		32,373		32,017
Series 2010-122, Class JA,
7.000%, 07/25/2040		14,023		14,203
Series 2010-123, Class KU,
4.500%, 11/25/2040		163,486		161,260
Series 2010-123, Class FL,
30D US SOFR + 0.54%, 11/25/2040^(a)		15,343		15,208
Series 2010-129, Class PZ,
4.500%, 11/25/2040		35,792		33,388
Series 2010-130, Class BZ,
4.500%, 11/25/2040		1,174,261		1,154,801
Series 2010-14, Class FJ,
30D US SOFR + 0.71%, 03/25/2040^(a)		72,418		72,359
Series 2010-141, Class FB,
30D US SOFR + 0.58%, 12/25/2040^(a)		38,484		38,047
Series 2010-141, Class MN,
4.000%, 12/25/2040		90,000		85,651
Series 2010-141, Class LZ,
4.500%, 12/25/2040		720,313		693,296
Series 2010-141, Class AL,
4.000%, 12/25/2040		271,065		263,789
Series 2010-142, Class FM,
30D US SOFR + 0.58%, 12/25/2040^(a)		13,775		13,609
Series 2010-154, Class JA,
3.000%, 11/25/2040		255,196		241,339
Series 2010-16, Class PL,
5.000%, 03/25/2040		71,000		71,038
Series 2010-19, Class PY,
5.000%, 03/25/2040		250,250		254,403
Series 2010-33, Class KN,
4.500%, 03/25/2040		26,963		26,633
Series 2010-37, Class CY,
5.000%, 04/25/2040		29,338		29,739
Series 2010-39, Class EF,
30D US SOFR + 0.63%, 06/25/2037^(a)		30,797		30,659
Series 2010-45, Class WD,
5.000%, 05/25/2040		180,000		175,469
Series 2010-54, Class LX,
5.000%, 06/25/2040		272,000		272,363

	Principal Amount		Value (Note 2)
Series 2010-57, Class HA,
3.500%, 02/25/2040	$	6,127	$	6,083
Series 2010-58, Class FY,
30D US SOFR + 0.84%, 06/25/2040^(a)		39,940		39,913
Series 2010-64, Class DM,
5.000%, 06/25/2040		25,942		25,940
Series 2010-67, Class BD,
4.500%, 06/25/2040		539,471		537,055
Series 2010-68, Class WB,
4.500%, 07/25/2040		85,000		80,481
Series 2010-82, Class WZ,
5.000%, 08/25/2040		290,070		293,039
Series 2010-9, Class ME,
5.000%, 02/25/2040		854,168		873,169
Series 2011-114, Class B,
3.500%, 11/25/2041		142,739		134,490
Series 2011-118, Class KL,
3.250%, 07/25/2040		83,868		80,472
Series 2011-121, Class JP,
4.500%, 12/25/2041		105,256		104,327
Series 2011-128, Class KB,
4.500%, 12/25/2041		800,000		785,055
Series 2011-130, Class KB,
4.000%, 12/25/2041		30,488		28,843
Series 2011-132, Class PE,
4.500%, 12/25/2041		114,991		113,577
Series 2011-145, Class JA,
4.500%, 12/25/2041		7,852		7,722
Series 2011-148, Class PL,
4.000%, 01/25/2042		425,000		387,928
Series 2011-15, Class AF,
30D US SOFR + 0.62%, 03/25/2041^(a)		21,750		21,557
Series 2011-17, Class PD,
4.000%, 03/25/2041		5,569		5,388
Series 2011-26, Class PA,
4.500%, 04/25/2041		86,471		85,869
Series 2011-27, Class ZD,
2.500%, 09/25/2040		170,206		150,726
Series 2011-3, Class FA,
30D US SOFR + 0.79%, 02/25/2041^(a)		132,458		131,961
Series 2011-30, Class ZA,
5.000%, 04/25/2041		841,620		829,206
Series 2011-43, Class B,
3.500%, 05/25/2031		15,922		15,509
Series 2011-45, Class ZA,
4.000%, 05/25/2031		13,929		13,732

	Principal Amount		Value (Note 2)
Series 2011-47, Class GF,
30D US SOFR + 0.68%, 06/25/2041^(a)	$	90,357	$	89,938
Series 2011-5, Class PO,
–%, 09/25/2040^(b)		7,816		5,718
Series 2011-55, Class BZ,
3.500%, 06/25/2041		421,211		395,263
Series 2011-74, Class UB,
4.000%, 07/25/2040		131,042		120,520
Series 2011-86, Class AF,
30D US SOFR + 0.61%, 02/25/2040^(a)		20,678		20,570
Series 2011-86, Class NF,
30D US SOFR + 0.66%, 09/25/2041^(a)		81,346		80,846
Series 2011-93, Class ST,
4.000%, 09/25/2041		16,624		15,820
Series 2011-93, Class GA,
4.000%, 04/25/2039		15,224		14,704
Series 2012-100, Class DB,
3.000%, 09/25/2042		940,377		845,847
Series 2012-103, Class PY,
3.000%, 09/25/2042		180,000		152,756
Series 2012-106, Class QN,
3.500%, 10/25/2042		57,637		53,558
Series 2012-108, Class PL,
3.000%, 10/25/2042		541,668		490,921
Series 2012-110, Class JB,
2.500%, 10/25/2042		204,000		155,589
Series 2012-111, Class B,
7.000%, 10/25/2042		70,295		75,761
Series 2012-112, Class DA,
3.000%, 10/25/2042		158,842		144,378
Series 2012-115, Class DY,
2.500%, 10/25/2042		225,000		177,958
Series 2012-120, Class AH,
2.500%, 02/25/2032		17,432		16,981
Series 2012-125, Class GY,
2.000%, 11/25/2042		621,000		486,446
Series 2012-126, Class TA,
3.000%, 10/25/2042		160,001		145,171
Series 2012-128, Class NP,
2.500%, 11/25/2042		8,143		5,421
Series 2012-129, Class HT,
2.000%, 12/25/2032		28,713		25,230
Series 2012-13, Class JP,
4.500%, 02/25/2042		415,344		411,667

	Principal Amount		Value (Note 2)
Series 2012-131, Class FG,
30D US SOFR + 0.46%, 09/25/2042^(a)	$	39,004	$	38,238
Series 2012-137, Class CF,
30D US SOFR + 0.41%, 08/25/2041^(a)		9,579		9,548
Series 2012-139, Class GB,
2.500%, 12/25/2042		210,538		146,607
Series 2012-139, Class CY,
2.000%, 12/25/2042		235,000		175,808
Series 2012-14, Class FL,
30D US SOFR + 0.56%, 12/25/2040^(a)		1,518		1,517
Series 2012-141, Class PD,
1.750%, 10/25/2041		81,879		75,996
Series 2012-149, Class ZA,
3.000%, 01/25/2041		57,644		55,271
Series 2012-149, Class DA,
1.750%, 01/25/2043		22,412		20,663
Series 2012-149, Class KB,
3.000%, 01/25/2043		127,224		121,043
Series 2012-151, Class NX,
1.500%, 01/25/2043		315,280		267,034
Series 2012-151, Class WC,
2.500%, 01/25/2043		249,000		182,569
Series 2012-152, Class PB,
3.500%, 01/25/2043		55,000		52,527
Series 2012-153, Class B,
7.000%, 07/25/2042		23,983		26,124
Series 2012-17, Class JB,
3.500%, 03/25/2042		200,000		171,008
Series 2012-17, Class JA,
3.500%, 12/25/2041		229,076		214,260
Series 2012-19, Class CB,
3.500%, 03/25/2042		197,000		181,161
Series 2012-20, Class TD,
4.500%, 02/25/2042		26,214		25,869
Series 2012-26, Class MA,
3.500%, 03/25/2042		114,489		107,306
Series 2012-27, Class KB,
2.000%, 03/25/2042		150,407		116,892
Series 2012-33, Class F,
30D US SOFR + 0.63%, 04/25/2042^(a)		24,264		24,052
Series 2012-37, Class BF,
30D US SOFR + 0.61%, 12/25/2035^(a)		42,806		42,536
Series 2012-38, Class MC,
3.000%, 04/25/2042		147,000		122,907

	Principal Amount		Value (Note 2)
Series 2012-46, Class YB,
3.500%, 05/25/2042	$	61,440	$	55,864
Series 2012-46, Class CD,
2.500%, 04/25/2041		47,619		46,474
Series 2012-47, Class JM,
3.500%, 05/25/2042		140,340		119,708
Series 2012-47, Class HF,
30D US SOFR + 0.51%, 05/25/2027^(a)		31,718		31,721
Series 2012-49, Class TG,
2.000%, 07/25/2041		23,000		22,381
Series 2012-50, Class HC,
2.000%, 03/25/2042		103,703		95,029
Series 2012-51, Class HJ,
3.500%, 05/25/2042		364,384		314,710
Series 2012-51, Class ZX,
3.500%, 05/25/2042		2,069,060		1,660,147
Series 2012-52, Class BM,
4.500%, 01/25/2042		521,674		511,995
Series 2012-53, Class AP,
2.000%, 04/25/2041		29,429		28,801
Series 2012-56, Class WB,
3.500%, 05/25/2042		65,590		61,295
Series 2012-56, Class UB,
4.000%, 06/25/2042		416,000		388,328
Series 2012-64, Class NA,
3.000%, 08/25/2041		5,378		5,342
Series 2012-69, Class PL,
3.000%, 01/25/2042		74,142		71,767
Series 2012-70, Class WC,
3.000%, 07/25/2042		172,000		143,294
Series 2012-80, Class GZ,
3.000%, 08/25/2042		371,624		338,197
Series 2012-82, Class E,
2.000%, 04/25/2042		21,204		19,672
Series 2012-83, Class AC,
3.000%, 08/25/2042		85,000		73,542
Series 2012-90, Class PH,
3.000%, 01/25/2042		56,824		54,596
Series 2012-90, Class PB,
2.500%, 01/25/2042		255,709		241,401
Series 2012-93, Class TL,
3.000%, 09/25/2042		420,000		348,922
Series 2012-98, Class ZP,
6.000%, 09/25/2042		714,192		770,150
Series 2012-99, Class DC,
2.000%, 08/25/2041		108,927		101,676
Series 2013-104, Class CY,
5.000%, 10/25/2043		50,000		48,512

	Principal Amount		Value (Note 2)
Series 2013-108, Class GU,
3.000%, 10/25/2033	$	34,725	$	33,123
Series 2013-114, Class LM,
4.000%, 03/25/2042		204,760		198,491
Series 2013-130, Class FB,
30D US SOFR + 0.56%, 01/25/2044^(a)		31,209		30,779
Series 2013-136, Class QB,
3.500%, 03/25/2042		156,102		146,308
Series 2013-17, Class YM,
4.000%, 03/25/2033		11,670		11,486
Series 2013-2, Class QF,
30D US SOFR + 0.61%, 02/25/2043^(a)		11,504		11,222
Series 2013-20, Class CA,
2.500%, 01/25/2043		166,201		147,451
Series 2013-35, Class CV,
3.000%, 02/25/2043		200,000		182,430
Series 2013-4, Class PL,
2.000%, 02/25/2043		120,000		90,920
Series 2013-52, Class GM,
5.000%, 06/25/2043		89,000		86,931
Series 2013-53, Class CV,
3.500%, 05/25/2030		50,456		49,933
Series 2013-68, Class P,
3.500%, 10/25/2042		104,593		100,522
Series 2013-68, Class LE,
2.000%, 04/25/2043		75,651		68,269
Series 2013-70, Class CE,
2.500%, 01/25/2043		149,507		138,007
Series 2013-72, Class YA,
3.000%, 06/25/2033		2,612		2,406
Series 2013-72, Class AF,
30D US SOFR + 0.36%, 11/25/2042^(a)		4,403		4,391
Series 2013-81, Class YK,
4.000%, 08/25/2043		200,000		184,317
Series 2013-9, Class BC,
6.500%, 07/25/2042		196,733		208,592
Series 2013-9, Class CB,
5.500%, 04/25/2042		447,650		460,559
Series 2013-91, Class PB,
4.000%, 09/25/2043		140,000		127,271
Series 2014-10, Class BA,
5.330%, 03/25/2054^(a)		265,489		272,707
Series 2014-20, Class AC,
3.000%, 08/25/2036		33,524		32,980

	Principal Amount		Value (Note 2)
Series 2014-21, Class MA,
2.000%, 09/25/2041	$	58,209	$	54,721
Series 2014-23, Class A,
3.000%, 05/25/2044		738,344		669,608
Series 2014-23, Class Z,
3.500%, 05/25/2044		472,244		439,480
Series 2014-26, Class YW,
3.500%, 04/25/2044		50,538		48,201
Series 2014-3, Class BM,
2.500%, 06/25/2043		50,000		46,150
Series 2014-43, Class PZ,
3.000%, 07/25/2043		249,037		206,613
Series 2014-49, Class CA,
3.000%, 08/25/2044		71,521		68,454
Series 2014-52, Class LM,
3.500%, 09/25/2044		1,089,776		928,264
Series 2014-6, Class Z,
2.500%, 02/25/2044		129,982		112,413
Series 2014-63, Class LN,
3.000%, 10/25/2044		125,000		99,540
Series 2014-67, Class PL,
3.000%, 04/25/2043		154,874		146,496
Series 2014-73, Class FA,
30D US SOFR + 0.46%, 11/25/2044^(a)		12,340		12,098
Series 2014-80, Class DZ,
3.000%, 12/25/2044		3,115,716		2,800,287
Series 2014-81, Class GC,
3.000%, 03/25/2038		21,582		21,015
Series 2014-86, Class PA,
2.000%, 12/25/2044		866,458		760,636
Series 2014-88, Class ER,
2.500%, 02/25/2036		19,470		18,585
Series 2015-16, Class ZY,
2.500%, 04/25/2045		10,685,765		8,957,834
Series 2015-2, Class CD,
3.500%, 02/25/2045		162,467		136,457
Series 2015-51, Class CD,
3.000%, 07/25/2044		96,157		91,768
Series 2015-53, Class KB,
3.000%, 01/25/2045		762,307		685,887
Series 2015-56, Class MH,
3.500%, 08/25/2045		953,938		870,815
Series 2015-65, Class CZ,
3.500%, 09/25/2045		136,565		117,566
Series 2015-75, Class LB,
3.000%, 10/25/2045		125,000		94,742
Series 2016-14, Class NC,
2.500%, 03/25/2046		133,683		126,607

	Principal Amount		Value (Note 2)
Series 2016-2, Class BH,
2.700%, 07/25/2045	$	175,485	$	162,342
Series 2016-23, Class PL,
3.000%, 11/25/2045		298,685		246,037
Series 2016-27, Class HK,
3.000%, 01/25/2041		244,492		232,107
Series 2016-31, Class TM,
3.000%, 12/25/2045		360,000		313,464
Series 2016-33, Class JA,
3.000%, 07/25/2045		130,628		121,987
Series 2016-33, Class LE,
2.500%, 11/25/2033		33,350		30,927
Series 2016-48, Class UF,
30D US SOFR + 0.51%, 08/25/2046^(a)		60,327		59,717
Series 2016-52, Class MZ,
3.000%, 08/25/2046		254,174		194,761
Series 2016-55, Class EA,
1.750%, 07/25/2043		768,275		644,378
Series 2016-57, Class PC,
1.750%, 06/25/2046		227,745		192,551
Series 2016-75, Class FC,
30D US SOFR + 0.51%, 10/25/2046^(a)		30,563		30,217
Series 2016-8, Class CB,
3.500%, 03/25/2046		893,000		817,329
Series 2016-83, Class KL,
2.500%, 11/25/2046		132,409		85,758
Series 2016-85, Class BA,
2.500%, 11/25/2046		5,543		4,066
Series 2016-9, Class D,
3.000%, 03/25/2046		28,543		26,015
Series 2016-9, Class PA,
2.500%, 06/25/2045		146,515		134,947
Series 2017-1, Class JP,
3.500%, 04/25/2045		83,891		81,036
Series 2017-10, Class FA,
30D US SOFR + 0.51%, 03/25/2047^(a)		23,051		22,763
Series 2017-100, Class ZE,
3.500%, 12/25/2047		128,785		117,409
Series 2017-110, Class PB,
3.000%, 02/25/2057		140,000		111,152
Series 2017-15, Class PE,
3.500%, 04/25/2046		42,658		40,651
Series 2017-19, Class B,
3.000%, 01/25/2047		214,925		197,074

	Principal Amount		Value (Note 2)
Series 2017-24, Class H,
3.000%, 08/25/2043	$	34,748	$	34,236
Series 2017-25, Class QE,
2.500%, 04/25/2047		154,701		132,932
Series 2017-35, Class AH,
3.500%, 04/25/2053		8,890		8,725
Series 2017-38, Class JA,
3.000%, 03/25/2047		108,274		97,133
Series 2017-46, Class P,
3.500%, 06/25/2047		2,477,381		2,253,613
Series 2017-56, Class BY,
3.000%, 07/25/2047		128,765		106,836
Series 2017-56, Class BA,
3.000%, 03/25/2045		75,765		72,943
Series 2017-68, Class HQ,
3.000%, 07/25/2046		723,762		674,263
Series 2017-84, Class JP,
2.750%, 10/25/2047		115,857		102,140
Series 2017-90, Class WB,
3.000%, 11/25/2047		1,119,992		903,618
Series 2017-96, Class PA,
3.000%, 12/25/2054		107,637		103,308
Series 2017-99, Class DZ,
3.500%, 12/25/2047		138,022		125,796
Series 2018-15, Class KG,
2.500%, 01/25/2048		101,733		86,599
Series 2018-19, Class KB,
3.000%, 04/25/2046		39,134		37,510
Series 2018-2, Class HD,
3.000%, 02/25/2047		19,527		18,700
Series 2018-25, Class AL,
3.500%, 04/25/2048		187,296		164,869
Series 2018-38, Class PA,
3.500%, 06/25/2047		61,789		59,861
Series 2018-39, Class FG,
30D US SOFR + 0.36%, 11/25/2033^(a)		82,430		81,220
Series 2018-41, Class PZ,
4.000%, 06/25/2048		999,077		824,128
Series 2018-43, Class FE,
30D US SOFR + 0.36%, 09/25/2038^(a)		83,926		82,483
Series 2018-45, Class GA,
3.000%, 06/25/2048		34,616		30,871
Series 2018-5, Class JP,
3.000%, 09/25/2047		39,847		36,819
Series 2018-50, Class DY,
3.000%, 10/25/2047		513,787		470,692

	Principal Amount		Value (Note 2)
Series 2018-56, Class CH,
3.000%, 08/25/2048	$	28,446	$	25,369
Series 2018-6, Class PA,
3.000%, 02/25/2048		177,775		156,368
Series 2018-60, Class KL,
4.000%, 08/25/2048		96,000		84,942
Series 2018-67, Class DY,
4.000%, 09/25/2048		304,029		263,843
Series 2018-70, Class HB,
3.500%, 10/25/2058		314,994		271,166
Series 2018-74, Class AB,
3.500%, 10/25/2048		311,972		288,095
Series 2018-8, Class KL,
2.500%, 03/25/2047		267,952		238,435
Series 2018-83, Class LH,
4.000%, 11/25/2048		18,691		17,666
Series 2018-83, Class AC,
3.500%, 11/25/2048		142,544		128,846
Series 2018-9, Class PL,
3.500%, 02/25/2048		395,045		352,763
Series 2018-94, Class KZ,
4.500%, 01/25/2049		196,609		156,845
Series 2018-94, Class KD,
3.500%, 12/25/2048		43,491		40,288
Series 2019-10, Class MA,
3.000%, 03/25/2049		68,041		60,878
Series 2019-11, Class EA,
3.000%, 05/25/2048		203,465		189,973
Series 2019-12, Class HA,
3.500%, 11/25/2057		242,359		230,919
Series 2019-13, Class MH,
3.000%, 03/25/2049		277,874		251,884
Series 2019-34, Class PZ,
3.000%, 07/25/2049		117,464		61,660
Series 2019-45, Class PT,
3.000%, 08/25/2049		225,977		204,161
Series 2019-50, Class CZ,
2.750%, 09/25/2049		178,742		84,464
Series 2019-55, Class MQ,
3.500%, 10/25/2049		570,889		516,595
Series 2019-60, Class BF,
30D US SOFR + 0.56%, 10/25/2049^(a)		10,682		10,492
Series 2019-65, Class HA,
2.500%, 11/25/2049		149,427		128,593
Series 2019-75, Class PA,
3.000%, 10/25/2049		505,896		451,802
Series 2019-81, Class LB,
1.500%, 12/25/2049		496,777		401,183

	Principal Amount		Value (Note 2)
Series 2019-82, Class HZ,
3.000%, 01/25/2050	$	398,410	$	339,491
Series 2020-10, Class B,
3.000%, 03/25/2050		228,297		199,024
Series 2020-11, Class JW,
3.000%, 03/25/2050		237,000		181,361
Series 2020-36, Class GD,
2.000%, 12/25/2037		119,476		108,314
Series 2020-45, Class NB,
1.500%, 07/25/2050		259,992		113,038
Series 2020-47, Class GZ,
2.000%, 07/25/2050		217,004		132,410
Series 2020-73, Class ED,
0.828%, 11/25/2049^(a)		767,218		570,712
Series 2021-12, Class GA,
1.000%, 07/25/2050		126,444		92,833
Series 2021-15, Class JB,
1.250%, 04/25/2051		120,361		48,195
Series 2021-17, Class ZA,
1.500%, 04/25/2051		161,891		66,765
Series 2021-43, Class JC,
2.000%, 05/25/2051		122,417		99,350
Series 2021-47, Class PD,
1.500%, 07/25/2051		769,769		594,737
Series 2021-47, Class PE,
1.750%, 07/25/2051		769,769		607,671
Series 2021-59, Class H,
2.000%, 06/25/2048		217,620		176,491
Series 2021-6, Class KU,
1.500%, 02/25/2051		181,291		104,250
Series 2021-66, Class HU,
1.500%, 10/25/2051		259,998		127,330
Series 2021-66, Class JG,
1.000%, 10/25/2051		516,391		410,600
Series 2021-68, Class A,
2.000%, 07/25/2049		2,423,199		1,934,304
Series 2021-69, Class WA,
2.000%, 04/25/2049		308,306		253,919
Series 2021-72, Class NL,
1.500%, 10/25/2051		316,302		198,045
Series 2021-72, Class NB,
1.500%, 10/25/2051		140,000		60,326
Series 2021-8, Class HZ,
2.000%, 03/25/2051		470,817		242,288
Series 2021-80, Class KE,
2.000%, 11/25/2051		212,430		175,673

	Principal Amount		Value (Note 2)
Series 2022-17, Class GV,
2.500%, 01/25/2052	$	3,569,000	$	2,670,471
Series 2022-37, Class QL,
4.000%, 07/25/2052		1,683,000		1,607,667
Series 2022-4, Class CK,
1.500%, 04/25/2051		103,750		56,506
Series 2022-43, Class ZA,
4.500%, 07/25/2052		245,973		236,356
Series 2022-43, Class AN,
4.250%, 07/25/2052		240,932		201,682
Series 2022-64, Class GM,
4.500%, 10/25/2052		3,161,000		2,857,345
Series 2022-68, Class Z,
5.000%, 10/25/2052		667,189		666,151
Series 2022-81, Class DO,
–%, 11/25/2052^(b)		1,474,530		693,137
Series 2022-88, Class EZ,
6.000%, 12/25/2052		4,342,240		4,449,898
Series 2022-90, Class AY,
4.500%, 12/25/2041		180,000		173,151
Series 2023-19, Class BZ,
5.000%, 05/25/2053		5,751,058		5,801,392
				98,649,234
Fannie Mae Grantor Trust 2002-T12
Series 2002-T12, Class A1,
6.500%, 05/25/2042		126,089		130,133

Freddie Mac
Series 1996-1863, Class Z,
6.500%, 07/15/2026		33		32
Series 1997-1935, Class FK,
30D US SOFR + 0.81%, 02/15/2027^(a)		4,769		4,770
Series 1997-1980, Class Z,
7.000%, 07/15/2027		15,611		15,636
Series 1998-2034, Class Z,
6.500%, 02/15/2028		9,600		9,719
Series 1998-2035, Class PC,
6.950%, 03/15/2028		2,361		2,376
Series 1998-2053, Class Z,
6.500%, 04/15/2028		7,959		7,985
Series 1998-2060, Class Z,
6.500%, 05/15/2028		4,014		4,062
Series 1998-2079, Class FA,
30D US SOFR + 0.61%, 07/17/2028^(a)		4		4
Series 1998-2095, Class PE,
6.000%, 11/15/2028		8,565		8,619

	Principal Amount		Value (Note 2)
Series 1998-2102, Class Z,
6.000%, 12/15/2028	$	26,281	$	26,472
Series 1999-2115, Class FB,
30D US SOFR + 0.56%, 01/15/2029^(a)		10,368		10,345
Series 1999-2126, Class CB,
6.250%, 02/15/2029		10,106		10,167
Series 1999-2137, Class TH,
6.500%, 03/15/2029		3,030		3,070
Series 1999-2154, Class PL,
6.500%, 05/15/2029		81,404		81,758
Series 2000-2224, Class CB,
8.000%, 03/15/2030		7,724		8,068
Series 2001-2274, Class ZM,
6.500%, 01/15/2031		5,935		5,978
Series 2001-2279, Class Z,
6.000%, 01/15/2031		5,973		5,982
Series 2001-2320, Class FI,
30D US SOFR + 0.61%, 09/15/2029^(a)		16,685		16,628
Series 2001-2322, Class FV,
30D US SOFR + 0.61%, 06/15/2030^(a)		16,774		16,472
Series 2001-2324, Class PZ,
6.500%, 06/15/2031		91,257		94,603
Series 2001-2334, Class KB,
6.500%, 05/15/2028		39,827		40,125
Series 2001-2341, Class FP,
30D US SOFR + 1.01%, 07/15/2031^(a)		17,907		18,010
Series 2001-2367, Class FA,
30D US SOFR + 0.63%, 06/15/2031^(a)		17,533		17,460
Series 2001-2372, Class F,
30D US SOFR + 0.61%, 10/15/2031^(a)		11,597		11,564
Series 2001-2388, Class FR,
30D US SOFR + 0.76%, 06/15/2031^(a)		15,016		14,999
Series 2001-2388, Class FB,
30D US SOFR + 0.71%, 01/15/2029^(a)		13,734		13,716
Series 2001-2391, Class HF,
30D US SOFR + 0.66%, 06/15/2031^(a)		6,017		5,995
Series 2001-2396, Class FM,
30D US SOFR + 0.56%, 12/15/2031^(a)		14,075		14,059

	Principal Amount		Value (Note 2)
Series 2001-2396, Class FN,
30D US SOFR + 0.76%, 12/15/2031^(a)	$	96,933	$	97,201
Series 2002-2411, Class F,
30D US SOFR + 0.66%, 02/15/2032^(a)		12,478		12,474
Series 2002-2412, Class OF,
30D US SOFR + 1.06%, 12/15/2031^(a)		20,411		20,631
Series 2002-2417, Class FY,
30D US SOFR + 0.71%, 12/15/2031^(a)		6,234		6,216
Series 2002-2424, Class FY,
30D US SOFR + 0.56%, 03/15/2032^(a)		32,496		31,836
Series 2002-2430, Class WF,
6.500%, 03/15/2032		5,814		6,055
Series 2002-2433, Class FA,
30D US SOFR + 1.06%, 02/15/2032^(a)		25,514		25,793
Series 2002-2460, Class FA,
30D US SOFR + 1.11%, 03/15/2032^(a)		44,769		45,099
Series 2002-2466, Class FV,
30D US SOFR + 0.66%, 03/15/2032^(a)		38,252		38,189
Series 2002-2470, Class EF,
30D US SOFR + 1.11%, 03/15/2032^(a)		47,994		48,502
Series 2002-2478, Class FD,
30D US SOFR + 1.11%, 02/15/2032^(a)		13,899		13,787
Series 2002-2481, Class FE,
30D US SOFR + 1.11%, 03/15/2032^(a)		13,561		13,705
Series 2002-2488, Class FU,
30D US SOFR + 0.71%, 03/15/2032^(a)		45,913		45,813
Series 2002-2494, Class F,
30D US SOFR + 1.16%, 06/15/2031^(a)		23,293		23,478
Series 2002-2495, Class ZB,
4.500%, 09/15/2032		25,501		24,719
Series 2002-2510, Class FE,
30D US SOFR + 0.51%, 10/15/2032^(a)		4,893		4,860
Series 2002-2513, Class AF,
30D US SOFR + 1.11%, 02/15/2032^(a)		37,151		35,843

	Principal Amount		Value (Note 2)
Series 2002-2516, Class FD,
30D US SOFR + 1.11%, 02/15/2032^(a)	$	35,306	$	35,676
Series 2002-2517, Class FR,
30D US SOFR + 0.46%, 10/15/2032^(a)		27,331		27,086
Series 2002-2524, Class DH,
6.000%, 11/15/2032		26,449		27,419
Series 2002-2525, Class NU,
5.000%, 04/15/2032		56,072		55,243
Series 2002-2535, Class AW,
5.500%, 12/15/2032		7,409		7,615
Series 2002-2538, Class F,
30D US SOFR + 0.71%, 12/15/2032^(a)		101,521		101,658
Series 2002-2541, Class BL,
5.500%, 12/15/2032		29,907		30,733
Series 2003-2554, Class MN,
5.500%, 01/15/2033		33,768		34,683
Series 2003-2557, Class HL,
5.300%, 01/15/2033		117,505		117,492
Series 2003-2557, Class NU,
5.250%, 03/15/2032		38,514		38,476
Series 2003-2557, Class WF,
30D US SOFR + 0.51%, 01/15/2033^(a)		28,629		28,468
Series 2003-2568, Class D,
5.500%, 02/15/2033		27,196		27,985
Series 2003-2571, Class FY,
30D US SOFR + 0.86%, 12/15/2032^(a)		15,163		15,250
Series 2003-2577, Class FC,
30D US SOFR + 0.61%, 02/15/2033^(a)		67,417		66,999
Series 2003-2587, Class FW,
30D US SOFR + 0.58%, 03/15/2033^(a)		27,903		27,773
Series 2003-2590, Class OZ,
4.000%, 03/15/2033		176,911		170,667
Series 2003-2590, Class QY,
3.750%, 04/15/2028		383		381
Series 2003-2614, Class FV,
30D US SOFR + 1.61%, 05/15/2033^(a)		165,314		166,547
Series 2003-2624, Class QH,
5.000%, 06/15/2033		9,521		9,647
Series 2003-2626, Class ZX,
5.000%, 06/15/2033		216,188		199,140
Series 2003-2627, Class CN,
5.000%, 06/15/2033		28,058		28,423

	Principal Amount		Value (Note 2)
Series 2003-2631, Class DB,
5.000%, 06/15/2033	$	148,000	$	145,099
Series 2003-2647, Class A,
3.250%, 04/15/2032		51,198		49,543
Series 2003-2648, Class WZ,
5.000%, 07/15/2033		285,142		282,083
Series 2003-2668, Class LH,
5.000%, 09/15/2033		17,684		17,924
Series 2003-2707, Class FH,
30D US SOFR + 0.76%, 04/15/2032^(a)		54,012		54,162
Series 2003-2711, Class FA,
30D US SOFR + 1.11%, 11/15/2033^(a)		105,096		106,545
Series 2003-2717, Class LH,
5.500%, 12/15/2033		4,609		4,754
Series 2003-2725, Class TA,
4.500%, 12/15/2033		147,767		147,045
Series 2004-2750, Class TC,
5.250%, 02/15/2034		3,358		3,385
Series 2004-2768, Class PW,
4.250%, 03/15/2034		128,722		126,668
Series 2004-2802, Class OH,
6.000%, 05/15/2034		8,674		8,854
Series 2004-2835, Class KZ,
5.500%, 08/15/2034		28,050		28,947
Series 2004-2835, Class TB,
4.500%, 08/15/2034		286,134		281,060
Series 2004-2896, Class BZ,
5.000%, 11/15/2034		61,768		62,754
Series 2004-2901, Class KB,
5.000%, 12/15/2034		77,008		78,246
Series 2005-2916, Class MY,
5.500%, 01/15/2035		120,898		124,815
Series 2005-2927, Class EZ,
5.500%, 02/15/2035		8,276		8,119
Series 2005-2929, Class PG,
5.000%, 02/15/2035		29,343		29,808
Series 2005-2933, Class HD,
5.500%, 02/15/2035		16,654		16,954
Series 2005-2942, Class ZN,
5.500%, 03/15/2035		544,628		543,096
Series 2005-2953, Class PG,
5.500%, 03/15/2035		13,881		14,378
Series 2005-2962, Class KF,
30D US SOFR + 0.31%, 04/15/2035^(a)		8,612		8,533

	Principal Amount		Value (Note 2)
Series 2005-2973, Class GE,
5.500%, 05/15/2035	$	243,000	$	245,881
Series 2005-2980, Class QA,
6.000%, 05/15/2035		25,535		26,719
Series 2005-2996, Class GX,
5.500%, 06/15/2035		72,000		71,980
Series 2005-3012, Class WZ,
5.500%, 08/15/2035		251,536		253,119
Series 2005-3012, Class ZE,
5.750%, 08/15/2035		57,695		60,239
Series 2005-3028, Class PG,
5.500%, 09/15/2035		35,502		36,122
Series 2005-3028, Class ZE,
5.500%, 09/15/2035		928,608		926,742
Series 2005-3028, Class FM,
30D US SOFR + 0.36%, 09/15/2035^(a)		7,455		7,393
Series 2005-3033, Class WY,
5.500%, 09/15/2035		62,916		64,951
Series 2005-3036, Class NE,
5.000%, 09/15/2035		76,725		78,108
Series 2005-3042, Class PZ,
5.750%, 09/15/2035		167,902		174,587
Series 2005-3052, Class WH,
5.500%, 10/15/2035		15,354		15,826
Series 2005-3059, Class ZM,
5.000%, 02/15/2035		71,874		72,946
Series 2005-3062, Class DE,
5.500%, 11/15/2035		102,294		105,768
Series 2005-3068, Class Z,
5.500%, 11/15/2035		126,135		129,940
Series 2005-3070, Class FT,
30D US SOFR + 0.46%, 11/15/2035^(a)		11,583		11,523
Series 2005-3072, Class NF,
30D US SOFR + 0.61%, 11/15/2035^(a)		28,658		28,464
Series 2005-3085, Class FE,
30D US SOFR + 0.91%, 08/15/2035^(a)		33,867		34,073
Series 2006-3098, Class PG,
5.000%, 01/15/2036		50,949		51,875
Series 2006-3122, Class OH,
–%, 03/15/2036^(b)		18,190		15,683
Series 2006-3123, Class HT,
5.000%, 03/15/2026		5,502		5,469
Series 2006-3136, Class KF,
30D US SOFR + 0.41%, 04/15/2036^(a)		11,365		11,285

	Principal Amount		Value (Note 2)
Series 2006-3137, Class XP,
6.000%, 04/15/2036	$	16,896	$	17,743
Series 2006-3143, Class BC,
5.500%, 02/15/2036		75,463		78,329
Series 2006-3145, Class FN,
30D US SOFR + 0.54%, 04/15/2036^(a)		10,651		10,542
Series 2006-3148, Class CY,
6.000%, 04/15/2036		15,934		16,602
Series 2006-3153, Class UG,
30D US SOFR + 0.56%, 05/15/2036^(a)		17,363		17,230
Series 2006-3154, Class PN,
5.500%, 05/15/2036		52,819		54,845
Series 2006-3201, Class FL,
30D US SOFR + 0.71%, 08/15/2036^(a)		74,882		74,559
Series 2006-3202, Class HF,
30D US SOFR + 0.46%, 08/15/2036^(a)		32,041		31,715
Series 2006-3203, Class ZM,
5.000%, 08/15/2036		160,096		162,924
Series 2006-3204, Class ZM,
5.000%, 08/15/2034		75,618		76,741
Series 2006-3206, Class FE,
30D US SOFR + 0.51%, 08/15/2036^(a)		34,089		33,608
Series 2006-3235, Class Z,
6.500%, 11/15/2036		648,362		696,795
Series 2006-3236, Class EF,
30D US SOFR + 0.41%, 11/15/2036^(a)		9,905		9,755
Series 2006-3237, Class CD,
5.500%, 09/15/2036		71,098		70,779
Series 2006-3237, Class CE,
5.500%, 11/15/2036		122,000		123,864
Series 2006-3240, Class FG,
30D US SOFR + 1.22%, 11/15/2036^(a)		159,747		158,402
Series 2006-3249, Class CB,
4.250%, 12/15/2036		285,653		281,041
Series 2007-3279, Class FB,
30D US SOFR + 0.43%, 02/15/2037^(a)		59,114		58,146
Series 2007-3284, Class AZ,
4.500%, 03/15/2037		21,379		20,752
Series 2007-3301, Class FY,
30D US SOFR + 0.53%, 04/15/2037^(a)		13,326		13,125

	Principal Amount		Value (Note 2)
Series 2007-3311, Class DF,
30D US SOFR + 0.45%, 05/15/2037^(a)	$	82,527	$	81,273
Series 2007-3312, Class PA,
5.500%, 05/15/2037		12,494		13,023
Series 2007-3316, Class FB,
30D US SOFR + 0.41%, 08/15/2035^(a)		24,016		23,730
Series 2007-3349, Class HG,
5.500%, 07/15/2037		14,203		14,734
Series 2007-3361, Class AF,
30D US SOFR + 0.46%, 11/15/2036^(a)		54,773		54,042
Series 2007-3367, Class YF,
30D US SOFR + 0.66%, 09/15/2037^(a)		14,528		14,427
Series 2007-3368, Class AF,
30D US SOFR + 0.83%, 09/15/2037^(a)		50,811		50,797
Series 2007-3378, Class FA,
30D US SOFR + 0.69%, 06/15/2037^(a)		27,793		27,683
Series 2007-3380, Class FM,
30D US SOFR + 0.70%, 10/15/2037^(a)		63,117		62,806
Series 2007-3382, Class FG,
30D US SOFR + 0.71%, 11/15/2037^(a)		33,460		33,316
Series 2007-3382, Class FL,
30D US SOFR + 0.81%, 11/15/2037^(a)		59,612		59,583
Series 2007-3387, Class PF,
30D US SOFR + 0.53%, 11/15/2037^(a)		20,768		20,548
Series 2007-3388, Class FJ,
30D US SOFR + 0.81%, 11/15/2037^(a)		98,076		97,955
Series 2008-3404, Class DC,
5.500%, 01/15/2038		285,000		293,903
Series 2008-3405, Class PE,
5.000%, 01/15/2038		37,691		38,197
Series 2008-3409, Class DB,
6.000%, 01/15/2038		149,404		156,770
Series 2008-3411, Class FL,
30D US SOFR + 0.81%, 02/15/2038^(a)		14,529		14,478
Series 2008-3415, Class DF,
30D US SOFR + 0.81%, 08/15/2035^(a)		70,301		70,344
Series 2008-3415, Class PC,
5.000%, 12/15/2037		26,546		26,838

	Principal Amount		Value (Note 2)
Series 2008-3415, Class TF,
30D US SOFR + 0.85%, 08/15/2035^(a)	$	34,820	$	34,891
Series 2008-3450, Class PE,
5.000%, 05/15/2038		46,768		47,702
Series 2008-3469, Class CF,
30D US SOFR + 0.90%, 07/15/2038^(a)		17,589		17,563
Series 2009-3536, Class FM,
30D US SOFR + 1.11%, 05/15/2039^(a)		16,454		16,536
Series 2009-3539, Class B,
4.500%, 06/15/2029		44,000		43,867
Series 2009-3545, Class FA,
30D US SOFR + 0.96%, 06/15/2039^(a)		46,853		46,823
Series 2009-3548, Class ZE,
5.500%, 12/15/2032		108,850		110,702
Series 2009-3549, Class FA,
30D US SOFR + 1.31%, 07/15/2039^(a)		16,681		16,675
Series 2009-3564, Class NB,
5.000%, 08/15/2039		290,764		295,827
Series 2009-3574, Class D,
5.000%, 09/15/2039		58,375		59,563
Series 2009-3584, Class FA,
30D US SOFR + 0.81%, 12/15/2036^(a)		21,108		21,131
Series 2009-3587, Class DA,
4.500%, 10/15/2039		92,511		91,387
Series 2009-3588, Class CW,
6.145%, 10/15/2037^(a)		306,317		317,134
Series 2009-3604, Class PO,
–%, 05/15/2036^(b)		53,363		44,304
Series 2009-3605, Class BF,
30D US SOFR + 0.97%, 11/15/2039^(a)		99,133		99,738
Series 2009-3606, Class ZC,
5.000%, 04/15/2036		686,808		697,295
Series 2009-3611, Class FH,
30D US SOFR + 0.86%, 07/15/2034^(a)		9,216		9,241
Series 2010-3620, Class EL,
4.000%, 01/15/2030		14,790		14,627
Series 2010-3622, Class PB,
5.000%, 01/15/2040		336,224		342,629
Series 2010-3626, Class ME,
5.000%, 01/15/2040		431,364		441,058

	Principal Amount		Value (Note 2)
Series 2010-3631, Class PA,
4.000%, 02/15/2040	$	145,060	$	141,415
Series 2010-3653, Class B,
4.500%, 04/15/2030		44,053		43,865
Series 2010-3656, Class PM,
5.000%, 04/15/2040		119,958		122,246
Series 2010-3662, Class PJ,
5.000%, 04/15/2040		151,850		154,587
Series 2010-3664, Class DA,
4.000%, 11/15/2037		64,380		63,348
Series 2010-3747, Class PY,
4.000%, 10/15/2040		300,427		292,876
Series 2010-3747, Class CY,
4.500%, 10/15/2040		216,904		215,916
Series 2010-3770, Class JZ,
4.000%, 12/15/2040		7,581,041		7,376,015
Series 2010-3770, Class GA,
4.500%, 10/15/2040		324,445		322,396
Series 2010-3778, Class JA,
3.500%, 04/15/2040		74,957		73,444
Series 2011-3798, Class PJ,
4.000%, 01/15/2041		46,128		44,943
Series 2011-3800, Class AF,
30D US SOFR + 0.61%, 02/15/2041^(a)		16,881		16,737
Series 2011-3819, Class ZQ,
6.000%, 04/15/2036		12,427		13,048
Series 2011-3822, Class FY,
30D US SOFR + 0.51%, 02/15/2033^(a)		18,598		18,525
Series 2011-3825, Class BP,
4.000%, 03/15/2041		68,615		65,830
Series 2011-3843, Class PZ,
5.000%, 04/15/2041		514,752		521,091
Series 2011-3843, Class FE,
30D US SOFR + 0.66%, 04/15/2041^(a)		36,753		36,436
Series 2011-3844, Class PC,
5.000%, 04/15/2041		195,000		194,837
Series 2011-3852, Class TP,
27.08% - 30D US SOFR, 05/15/2041^(a)		20,421		20,671
Series 2011-3852, Class QN,
26.79% - 30D US SOFR, 05/15/2041^(a)		32,809		31,546
Series 2011-3857, Class ZP,
5.000%, 05/15/2041		1,317,348		1,332,497
Series 2011-3862, Class MA,
5.000%, 04/15/2041		66,123		66,771

	Principal Amount		Value (Note 2)
Series 2011-3891, Class BF,
30D US SOFR + 0.66%, 07/15/2041^(a)	$	34,129	$	33,818
Series 2011-3894, Class ZA,
4.500%, 07/15/2041		337,963		332,477
Series 2011-3905, Class BZ,
3.000%, 08/15/2041		176,710		140,040
Series 2011-3919, Class DL,
4.000%, 08/15/2030		298,000		290,620
Series 2011-3934, Class KB,
5.000%, 10/15/2041		511,969		522,781
Series 2011-3935, Class JZ,
4.500%, 10/15/2041		1,132,951		1,092,780
Series 2011-3939, Class AZ,
4.000%, 03/15/2041		325,814		312,536
Series 2011-3939, Class BZ,
4.500%, 06/15/2041		683,678		672,752
Series 2011-3940, Class MY,
4.000%, 10/15/2041		250,152		239,732
Series 2011-3957, Class HZ,
4.000%, 11/15/2041		587,693		561,285
Series 2011-3958, Class PJ,
4.500%, 09/15/2041		139,847		137,935
Series 2011-3959, Class MB,
4.500%, 11/15/2041		44,199		40,046
Series 2011-3963, Class JB,
4.500%, 11/15/2041		87,211		86,989
Series 2011-3968, Class LA,
4.500%, 12/15/2041		259,940		258,109
Series 2011-3969, Class JP,
4.500%, 09/15/2041		13,675		13,484
Series 2011-3978, Class CZ,
3.500%, 12/15/2041		2,146,908		2,000,930
Series 2012-3984, Class DF,
30D US SOFR + 0.66%, 01/15/2042^(a)		27,919		27,676
Series 2012-3989, Class JW,
3.500%, 01/15/2042		172,207		162,649
Series 2012-3994, Class JZ,
3.500%, 02/15/2042		879,705		812,532
Series 2012-3997, Class EC,
3.500%, 02/15/2042		59,120		50,861
Series 2012-3997, Class FQ,
30D US SOFR + 0.61%, 02/15/2042^(a)		34,774		34,364
Series 2012-4001, Class FM,
30D US SOFR + 0.61%, 02/15/2042^(a)		23,598		23,285

	Principal Amount		Value (Note 2)
Series 2012-4010, Class FC,
30D US SOFR + 1.11%, 03/15/2042^(a)	$	239,601	$	232,607
Series 2012-4011, Class DB,
4.000%, 09/15/2041		175,249		169,819
Series 2012-4011, Class DC,
4.000%, 09/15/2041		179,368		173,808
Series 2012-4012, Class GC,
3.500%, 06/15/2040		16,064		15,842
Series 2012-4020, Class PG,
2.500%, 03/15/2027		11,259		11,002
Series 2012-4037, Class CA,
3.000%, 04/15/2027		42,576		41,412
Series 2012-4039, Class LT,
3.500%, 05/15/2042		113,000		96,948
Series 2012-4048, Class CE,
4.000%, 05/15/2042		611,000		574,929
Series 2012-4050, Class ND,
2.500%, 09/15/2041		9,221		8,974
Series 2012-4062, Class MZ,
3.500%, 06/15/2042		441,637		413,367
Series 2012-4064, Class AY,
3.000%, 06/15/2027		44,048		43,074
Series 2012-4068, Class PE,
3.000%, 06/15/2042		327,000		295,271
Series 2012-4075, Class PB,
3.000%, 07/15/2042		84,380		76,674
Series 2012-4076, Class MV,
3.000%, 04/15/2031		54,509		53,531
Series 2012-4077, Class BE,
4.000%, 07/15/2042		130,000		118,273
Series 2012-4077, Class MA,
2.000%, 08/15/2040		3,964		3,954
Series 2012-4088, Class PB,
3.000%, 08/15/2042		125,940		113,001
Series 2012-4094, Class CW,
2.000%, 08/15/2042		175,155		150,468
Series 2012-4097, Class CU,
1.500%, 08/15/2027		25,000		23,391
Series 2012-4097, Class UF,
30D US SOFR + 0.46%, 08/15/2032^(a)		42,450		42,399
Series 2012-4101, Class QN,
3.500%, 09/15/2042		355,291		330,516
Series 2012-4102, Class CB,
2.000%, 09/15/2042		150,000		129,717
Series 2012-4104, Class AJ,
1.500%, 09/15/2027		9,735		9,331

	Principal Amount		Value (Note 2)
Series 2012-4116, Class YB,
2.500%, 05/15/2042	$	132,000	$	108,284
Series 2012-4120, Class TC,
1.500%, 10/15/2027		4,382		4,189
Series 2012-4122, Class BA,
2.761%, 05/15/2040^(a)(c)		127,375		118,939
Series 2012-4133, Class TA,
3.000%, 11/15/2042		308,106		252,853
Series 2012-4141, Class PL,
2.500%, 12/15/2042		274,000		182,903
Series 2013-4160, Class HB,
2.500%, 12/15/2032		14,094		13,036
Series 2013-4161, Class LT,
2.500%, 08/15/2042		294,957		269,375
Series 2013-4170, Class FW,
30D US SOFR + 1.06%, 01/15/2033^(a)		12,962		12,879
Series 2013-4171, Class MN,
3.000%, 02/15/2043		144,000		109,435
Series 2013-4176, Class YD,
3.000%, 03/15/2043		50,000		41,667
Series 2013-4183, Class ME,
2.000%, 02/15/2042		324,036		305,228
Series 2013-4185, Class PB,
3.000%, 03/15/2043		450,000		415,220
Series 2013-4203, Class DJ,
2.500%, 04/15/2033		28,098		27,010
Series 2013-4204, Class QP,
3.000%, 05/15/2043		153,000		128,155
Series 2013-4218, Class DG,
2.500%, 07/15/2042		99,567		91,422
Series 2013-4220, Class EH,
2.500%, 06/15/2028		11,313		11,035
Series 2013-4231, Class FD,
30D US SOFR + 0.46%, 10/15/2032^(a)		8,868		8,789
Series 2013-4246, Class PB,
4.000%, 09/15/2043		493,003		433,079
Series 2013-4265, Class FD,
30D US SOFR + 0.51%, 01/15/2035^(a)		44,270		43,841
Series 2013-4283, Class EW,
4.500%, 12/15/2043^(a)		175,066		174,719
Series 2014-4293, Class NM,
4.500%, 06/15/2043		19,334		18,834
Series 2014-4294, Class PF,
30D US SOFR + 0.51%, 01/15/2044^(a)		11,176		10,942
Series 2014-4319, Class PM,
3.000%, 03/15/2043		44,922		43,525

	Principal Amount		Value (Note 2)
Series 2014-4320, Class AP,
3.500%, 07/15/2039	$	113,753	$	110,659
Series 2014-4324, Class AY,
3.000%, 04/15/2029		568,738		548,194
Series 2014-4368, Class GZ,
4.125%, 06/15/2041^(d)		1,335,961		1,315,154
Series 2014-4370, Class PC,
2.500%, 09/15/2041		11,837		11,520
Series 2014-4403, Class CZ,
3.000%, 10/15/2044		154,302		90,012
Series 2014-4419, Class DC,
3.000%, 12/15/2044		240,000		197,329
Series 2015-4457, Class KZ,
3.000%, 04/15/2045		73,641		65,213
Series 2015-4459, Class CA,
5.000%, 12/15/2034		10,871		10,913
Series 2015-4461, Class EA,
2.000%, 07/15/2037		61,106		59,114
Series 2015-4498, Class JA,
2.500%, 04/15/2037		94,930		87,817
Series 2015-4508, Class UZ,
3.000%, 07/15/2043		55,131		43,485
Series 2016-4555, Class CP,
3.000%, 04/15/2045		327,388		314,006
Series 2016-4564, Class QA,
3.000%, 07/15/2029		18,433		18,260
Series 2016-4582, Class PA,
3.000%, 11/15/2045		107,254		99,164
Series 2016-4583, Class UP,
3.000%, 07/15/2045		136,744		126,326
Series 2016-4590, Class AK,
3.500%, 08/15/2027		48,705		48,196
Series 2016-4601, Class CZ,
3.000%, 12/15/2045		113,107		71,866
Series 2016-4613, Class AF,
30D US SOFR + 1.21%, 11/15/2037^(a)		81,085		79,831
Series 2016-4629, Class KB,
3.000%, 11/15/2046		1,000,000		825,098
Series 2016-4639, Class HZ,
3.250%, 04/15/2053^(d)		1,119,995		905,564
Series 2017-4656, Class EZ,
4.000%, 02/15/2047		336,176		315,395
Series 2017-4661, Class HA,
3.000%, 05/15/2043		40,176		39,794
Series 2017-4664, Class UE,
3.000%, 05/15/2043		5,096		5,080

	Principal Amount		Value (Note 2)
Series 2017-4670, Class TY,
3.000%, 03/15/2047	$	346,000	$	281,937
Series 2017-4672, Class QD,
3.000%, 08/15/2045		27,166		26,423
Series 2017-4680, Class PA,
3.000%, 03/15/2046		91,552		86,976
Series 2017-4707, Class Z,
4.000%, 08/15/2047		126,540		81,128
Series 2017-4710, Class PA,
3.000%, 04/15/2045		89,975		86,898
Series 2017-4714, Class MY,
3.500%, 08/15/2047		1,000,000		914,104
Series 2017-4736, Class CL,
3.000%, 12/15/2047		154,734		132,679
Series 2017-4748, Class GA,
3.000%, 01/15/2045		32,580		31,728
Series 2018-4767, Class Z,
3.000%, 12/15/2047		37,572		21,977
Series 2018-4773, Class DZ,
4.000%, 04/15/2048		162,426		153,603
Series 2018-4787, Class PY,
4.000%, 05/15/2048		41,486		38,592
Series 2018-4808, Class DG,
3.500%, 09/15/2045		564,753		552,391
Series 2018-4813, Class CJ,
3.000%, 08/15/2048		183,797		160,800
Series 2018-4818, Class CA,
3.000%, 04/15/2048		381,644		340,696
Series 2018-4821, Class YZ,
4.000%, 02/15/2042		1,646,476		1,456,670
Series 2018-4821, Class ZM,
3.500%, 05/15/2048		342,024		305,511
Series 2018-4821, Class VA,
4.000%, 10/15/2029		1,993		1,987
Series 2018-4839, Class AE,
4.000%, 04/15/2051		220,817		212,010
Series 2018-4846, Class PA,
4.000%, 06/15/2047		4,002		3,954
Series 2018-4857, Class HM,
3.500%, 11/15/2046		52,426		51,337
Series 2019-4863, Class AJ,
3.500%, 07/15/2038		40,329		38,892
Series 2019-4863, Class H,
7.000%, 03/15/2049		126,131		134,988
Series 2019-4896, Class BD,
3.500%, 07/25/2049		1,062,753		923,175
Series 2019-4911, Class HG,
2.250%, 04/15/2049		1,746,117		1,473,114

	Principal Amount		Value (Note 2)
Series 2019-4926, Class BP,
3.000%, 10/25/2049	$	534,156	$	466,319
Series 2019-4942, Class A,
3.000%, 01/25/2049		94,505		87,447
Series 2020-4954, Class LZ,
2.500%, 02/25/2050		124,436		57,565
Series 2020-4961, Class JB,
2.500%, 12/15/2042		129,580		117,822
Series 2020-4989, Class FA,
30D US SOFR + 0.46%, 08/15/2040^(a)		116,023		116,637
Series 2020-4989, Class FB,
30D US SOFR + 0.46%, 10/15/2040^(a)		110,326		112,326
Series 2020-5000, Class HZ,
1.500%, 08/25/2050		250,584		128,068
Series 2020-5007, Class PY,
1.500%, 08/25/2050		218,000		90,920
Series 2020-5013, Class NH,
1.000%, 09/25/2050		173,579		88,163
Series 2020-5014, Class BP,
1.250%, 09/25/2040		221,694		192,322
Series 2020-5039, Class ZK,
2.500%, 11/25/2050		152,647		74,599
Series 2020-5049, Class JZ,
2.000%, 11/25/2050		142,131		65,775
Series 2020-5049, Class WB,
0.750%, 12/25/2050		350,860		266,957
Series 2020-5068, Class UB,
0.500%, 01/25/2051		109,000		57,994
Series 2021-5080, Class CA,
2.000%, 02/25/2051		864,862		493,031
Series 2021-5083, Class MA,
2.000%, 03/25/2051		612,856		366,788
Series 2021-5085, Class HA,
1.500%, 03/25/2051		147,216		80,558
Series 2021-5092, Class BC,
2.500%, 06/25/2036		18,818		18,476
Series 2021-5103, Class LM,
1.500%, 05/25/2041		119,098		66,077
Series 2021-5103, Class LQ,
1.500%, 04/25/2050		199,867		104,129
Series 2021-5119, Class LM,
1.500%, 05/25/2041		202,779		108,806
Series 2021-5121, Class KE,
1.500%, 06/25/2051		301,427		150,291
Series 2021-5129, Class KC,
1.500%, 11/25/2049		145,047		126,021

	Principal Amount		Value (Note 2)
Series 2021-5144, Class PC,
1.500%, 09/25/2051	$	367,154	$	306,127
Series 2021-5156, Class EC,
1.500%, 10/25/2051		434,990		220,335
Series 2021-5171, Class KY,
1.750%, 12/25/2051		172,000		93,093
Series 2021-5174, Class TQ,
2.000%, 08/25/2051		490,953		411,148
Series 2021-5178, Class LY,
1.500%, 12/25/2051		178,029		86,391
Series 2021-5182, Class M,
2.500%, 05/25/2049		332,121		294,754
Series 2022-5189, Class PG,
2.500%, 09/25/2051		91,620		82,799
Series 2022-5198, Class ZM,
3.000%, 02/25/2052		638,587		500,670
Series 2022-5200, Class WK,
2.500%, 03/25/2052		217,000		141,503
Series 2022-5201, Class CA,
2.500%, 07/25/2048		627,147		565,996
Series 2022-5207, Class CZ,
3.500%, 03/25/2052		375,497		252,843
Series 2022-5208, Class AL,
2.500%, 04/25/2042		1,386,302		1,036,906
Series 2022-5224, Class HL,
4.000%, 04/25/2052		1,700,000		1,548,786
Series 2022-5230, Class PE,
2.000%, 12/25/2051		600,000		478,678
Series 2022-5234, Class PH,
3.500%, 04/25/2051		782,239		746,436
				60,755,842
Freddie Mac Strips
Series 2013-299, Class 300,
3.000%, 01/15/2043		155,366		142,307
Series 2013-300, Class 300,
3.000%, 01/15/2043		126,158		114,711
				257,018
Freddie Mac Structured Pass-Through Certificates
Series 2001-32, Class A1,
1M US SOFR + 0.37%, 08/25/2031^(a)		66,270		68,229
Series 2002-41, Class 3A,
4.330%, 07/25/2032^(a)		1,865,127		1,720,570
Series 2003-55, Class 1A3A,
30D US SOFR + 0.51%, 03/25/2043^(a)		240,729		239,801
				2,028,600

	Principal Amount		Value (Note 2)
Ginnie Mae
Series 2003-76, Class TG,
5.500%, 09/20/2033	$	127,350	$	126,918
Series 2003-98, Class FY,
1M US SOFR + 0.46%, 09/20/2033^(a)		7,691		7,685
Series 2004-1, Class TE,
5.000%, 06/20/2033		19,672		19,460
Series 2004-15, Class AY,
5.500%, 02/20/2034		138,254		139,447
Series 2004-22, Class AZ,
5.500%, 04/20/2034		173,167		175,223
Series 2004-26, Class ED,
5.500%, 04/16/2034		56,983		57,483
Series 2004-34, Class QL,
5.500%, 05/16/2034		135,625		136,352
Series 2004-55, Class MC,
5.500%, 07/20/2034		35,002		35,393
Series 2004-7, Class Z,
5.500%, 01/16/2034		1,539,991		1,547,665
Series 2004-87, Class BC,
4.500%, 10/20/2034		10,841		10,750
Series 2005-11, Class PL,
5.000%, 02/20/2035		27,055		27,012
Series 2005-13, Class BG,
5.000%, 02/20/2035		152,459		152,094
Series 2005-13, Class NB,
5.000%, 02/20/2035		9,688		9,666
Series 2005-3, Class JL,
5.000%, 12/16/2034		61,789		61,359
Series 2005-3, Class JM,
4.750%, 01/20/2035		41,751		41,092
Series 2005-3, Class OC,
5.000%, 01/20/2035		141,947		141,183
Series 2005-3, Class QB,
5.000%, 01/16/2035		47,287		46,969
Series 2005-44, Class GZ,
5.000%, 07/20/2035		97,296		96,230
Series 2005-45, Class BF,
1M US SOFR + 0.41%, 06/20/2035^(a)		29,261		28,983
Series 2005-49, Class B,
5.500%, 06/20/2035		66,742		67,769
Series 2005-51, Class DC,
5.000%, 07/20/2035		101,926		101,766
Series 2005-56, Class BD,
5.000%, 07/20/2035		34,835		34,955
Series 2005-56, Class JA,
5.000%, 05/17/2035		10,755		10,662

	Principal Amount		Value (Note 2)
Series 2005-69, Class WD,
5.000%, 05/18/2035	$	36,615	$	36,298
Series 2005-73, Class PH,
5.000%, 09/20/2035		97,749		96,734
Series 2005-92, Class PB,
6.000%, 12/20/2035		132,194		136,628
Series 2006-10, Class PB,
5.500%, 03/20/2036		222,578		226,441
Series 2006-38, Class OH,
6.500%, 08/20/2036		24,083		24,007
Series 2007-18, Class PH,
5.500%, 03/20/2035		137,000		139,723
Series 2007-18, Class B,
5.500%, 05/20/2035		63,763		64,548
Series 2007-35, Class TE,
6.000%, 06/20/2037		89,841		92,427
Series 2007-35, Class NE,
6.000%, 06/16/2037		40,189		41,276
Series 2007-40, Class FY,
1M US SOFR + 0.44%, 07/16/2037^(a)		28,354		28,156
Series 2007-44, Class PH,
6.000%, 07/20/2037		102,935		106,198
Series 2007-57, Class Z,
5.500%, 10/20/2037		852,430		866,747
Series 2007-6, Class LE,
5.500%, 02/20/2037		227,733		229,522
Series 2007-7, Class PG,
5.000%, 02/16/2037		21,325		21,377
Series 2007-79, Class FC,
1M US SOFR + 0.55%, 12/20/2037^(a)		104,231		104,093
Series 2008-13, Class FB,
1M US SOFR + 0.61%, 02/20/2038^(a)		20,765		20,717
Series 2008-20, Class CE,
5.500%, 06/16/2037		196,380		199,604
Series 2008-21, Class PZ,
5.500%, 11/20/2037		351,187		350,026
Series 2008-31, Class PC,
5.500%, 04/20/2038		41,844		42,280
Series 2008-33, Class PB,
5.500%, 04/20/2038		120,696		122,022
Series 2008-37, Class L,
6.000%, 04/20/2038		34,828		35,328
Series 2008-38, Class PL,
5.500%, 05/20/2038		185,544		189,084
Series 2008-38, Class PN,
5.500%, 05/20/2038		35,684		36,365

	Principal Amount		Value (Note 2)
Series 2008-38, Class BG,
5.000%, 05/16/2038	$	67,616	$	67,504
Series 2008-40, Class PL,
5.250%, 05/16/2038		118,000		120,291
Series 2008-41, Class PE,
5.500%, 05/20/2038		60,474		61,734
Series 2008-43, Class NB,
5.500%, 05/20/2038		117,912		118,134
Series 2008-47, Class ML,
5.250%, 06/16/2038		22,854		23,150
Series 2008-49, Class PB,
4.750%, 06/20/2038		24,583		24,263
Series 2008-50, Class KB,
6.000%, 06/20/2038		195,592		202,793
Series 2008-51, Class PH,
5.250%, 06/20/2038		35,175		35,593
Series 2008-51, Class FG,
1M US SOFR + 0.88%, 06/16/2038^(a)		68,541		68,859
Series 2008-55, Class PL,
5.500%, 06/20/2038		27,328		27,473
Series 2008-58, Class PE,
5.500%, 07/16/2038		71,015		72,233
Series 2008-60, Class JP,
5.500%, 07/20/2038		205,549		206,704
Series 2008-60, Class JN,
5.500%, 07/20/2038		103,904		104,568
Series 2008-65, Class PG,
6.000%, 08/20/2038		185,850		186,847
Series 2008-66, Class FN,
1M US SOFR + 1.06%, 08/20/2038^(a)		72,952		73,440
Series 2008-7, Class PQ,
5.000%, 02/20/2038		81,697		80,806
Series 2008-76, Class QE,
5.750%, 09/20/2038		58,000		58,317
Series 2008-77, Class FC,
1M US SOFR + 0.81%, 09/20/2038^(a)		52,225		52,218
Series 2008-85, Class PG,
5.250%, 10/20/2038		29,237		29,139
Series 2008-89, Class JD,
6.000%, 08/20/2038		40,258		40,109
Series 2008-89, Class JC,
5.500%, 08/20/2038		34,660		34,535
Series 2008-9, Class FA,
1M US SOFR + 0.61%, 02/20/2038^(a)		14,370		14,355

	Principal Amount		Value (Note 2)
Series 2009-1, Class FA,
1M US SOFR + 1.16%, 01/20/2039^(a)	$	60,195	$	60,810
Series 2009-10, Class PH,
4.500%, 02/20/2039		25,471		25,106
Series 2009-10, Class NB,
5.000%, 02/16/2039		66,828		66,975
Series 2009-118, Class PY,
5.000%, 12/16/2039		16,278		16,265
Series 2009-12, Class NB,
5.000%, 03/20/2039		46,656		46,213
Series 2009-13, Class E,
4.500%, 03/16/2039		83,690		82,444
Series 2009-15, Class FM,
1M US SOFR + 1.15%, 03/20/2039^(a)		57,024		57,262
Series 2009-24, Class WB,
5.000%, 03/20/2039		190,453		188,591
Series 2009-32, Class ZA,
5.500%, 05/20/2039		332,463		343,291
Series 2009-40, Class AD,
4.500%, 06/20/2039		309,000		304,840
Series 2009-47, Class LT,
5.000%, 06/20/2039		97,894		97,668
Series 2009-55, Class FN,
1M US SOFR + 1.11%, 07/20/2039^(a)		20,955		21,139
Series 2009-58, Class PA,
4.500%, 07/20/2039		65,515		63,813
Series 2009-61, Class MP,
5.000%, 08/20/2039		28,559		28,569
Series 2009-61, Class AP,
4.000%, 08/20/2039		31,380		30,493
Series 2009-69, Class PH,
5.500%, 08/16/2039		92,000		92,209
Series 2009-75, Class GZ,
4.500%, 09/20/2039		82,343		81,635
Series 2009-76, Class XA,
5.500%, 09/16/2039		425,664		432,736
Series 2009-76, Class JB,
4.500%, 07/20/2039		17,327		17,242
Series 2009-77, Class KJ,
5.000%, 09/20/2039		98,534		99,701
Series 2009-83, Class TF,
1M US SOFR + 1.01%, 08/20/2039^(a)		34,294		34,564
Series 2009-94, Class FA,
1M US SOFR + 0.81%, 10/16/2039^(a)		67,452		67,605

	Principal Amount		Value (Note 2)
Series 2010-103, Class WA,
5.667%, 08/20/2034^(a)	$	198,074	$	201,164
Series 2010-105, Class BH,
3.000%, 01/16/2040		60,881		58,493
Series 2010-111, Class FA,
1M US SOFR + 0.46%, 09/20/2040^(a)		39,659		39,255
Series 2010-134, Class YL,
4.500%, 10/20/2040		101,000		98,795
Series 2010-14, Class HA,
4.500%, 02/16/2040		109,667		108,933
Series 2010-147, Class PG,
3.500%, 05/20/2040		38,863		38,067
Series 2010-157, Class OP,
–%, 12/20/2040^(b)		8,317		7,052
Series 2010-167, Class WL,
4.500%, 09/20/2040		764,000		748,339
Series 2010-169, Class JZ,
4.000%, 12/20/2040		187,845		178,963
Series 2010-19, Class GW,
4.750%, 02/20/2040		108,305		100,821
Series 2010-62, Class AF,
1M US SOFR + 0.56%, 04/16/2034^(a)		12,961		12,958
Series 2010-76, Class NC,
4.500%, 06/20/2040		113,194		109,336
Series 2010-84, Class YB,
4.000%, 07/20/2040		18,507		17,775
Series 2010-H01, Class FA,
1M US SOFR + 0.93%, 01/20/2060^(a)		11,671		11,700
Series 2010-H10, Class FC,
1M US SOFR + 1.11%, 05/20/2060^(a)		59,668		59,971
Series 2010-H20, Class AF,
1M US SOFR + 0.44%, 10/20/2060^(a)		76,256		75,972
Series 2010-H22, Class FE,
1M US SOFR + 0.46%, 05/20/2059^(a)		699		694
Series 2010-H27, Class FA,
1M US SOFR + 0.49%, 12/20/2060^(a)		26,061		25,981
Series 2011-100, Class MY,
4.000%, 07/20/2041		175,367		169,944
Series 2011-128, Class MD,
4.000%, 10/20/2040		96,248		94,738
Series 2011-137, Class WA,
5.593%, 07/20/2040^(a)		184,933		189,374

	Principal Amount		Value (Note 2)
Series 2011-18, Class PA,
4.000%, 08/20/2040	$	12,722	$	12,607
Series 2011-59, Class QC,
4.000%, 12/20/2040		199,402		194,925
Series 2011-66, Class UA,
4.000%, 05/16/2041		148,383		139,272
Series 2011-71, Class ZC,
5.500%, 07/16/2034		156,585		157,615
Series 2011-97, Class WA,
6.094%, 11/20/2038^(a)		28,067		28,868
Series 2011-H01, Class AF,
1M US SOFR + 0.56%, 11/20/2060^(a)		64,783		64,682
Series 2011-H11, Class FA,
1M US SOFR + 0.61%, 03/20/2061^(a)		81,769		81,661
Series 2011-H11, Class FB,
1M US SOFR + 0.61%, 04/20/2061^(a)		32,437		32,383
Series 2011-H15, Class FA,
1M US SOFR + 0.56%, 06/20/2061^(a)		17,628		17,587
Series 2012-108, Class CB,
2.500%, 09/20/2042		149,000		119,910
Series 2012-116, Class BY,
3.000%, 09/16/2042		267,000		215,512
Series 2012-127, Class PG,
1.750%, 09/16/2042		129,281		115,972
Series 2012-32, Class PE,
3.500%, 03/16/2042		117,000		106,093
Series 2012-38, Class PL,
3.250%, 01/20/2041		23,124		22,735
Series 2012-39, Class GA,
3.000%, 10/16/2040		24,659		23,643
Series 2012-51, Class VM,
3.500%, 04/16/2025		21,098		20,850
Series 2012-56, Class HZ,
3.500%, 06/20/2040		1,329,923		1,194,109
Series 2012-68, Class GE,
3.000%, 05/20/2042		4,247		3,382
Series 2012-76, Class GF,
1M US SOFR + 0.41%, 06/16/2042^(a)		20,668		20,491
Series 2012-84, Class TB,
2.500%, 07/20/2042		390,245		324,445
Series 2012-H08, Class FC,
1M US SOFR + 0.68%, 04/20/2062^(a)		185,931		185,814

	Principal Amount		Value (Note 2)
Series 2012-H14, Class FK,
1M US SOFR + 0.69%, 07/20/2062^(a)	$	90,596	$	90,464
Series 2012-H20, Class PT,
6.005%, 07/20/2062^(a)		17,136		17,082
Series 2012-H24, Class FE,
1M US SOFR + 0.71%, 10/20/2062^(a)		925		918
Series 2013-100, Class MA,
3.500%, 02/20/2043		28,890		27,944
Series 2013-115, Class PM,
4.000%, 08/20/2043		394,975		368,246
Series 2013-169, Class EZ,
3.250%, 11/16/2043		113,095		99,148
Series 2013-22, Class GB,
2.500%, 08/20/2042		115,781		104,754
Series 2013-41, Class MY,
3.000%, 03/20/2043		270,060		242,828
Series 2013-54, Class WA,
4.900%, 11/20/2042^(a)		369,053		373,269
Series 2013-6, Class BE,
3.000%, 01/20/2043		104,000		79,239
Series 2013-69, Class NA,
2.000%, 09/20/2042		169,348		149,417
Series 2013-70, Class LA,
1.000%, 05/20/2043		102,767		84,913
Series 2013-93, Class CA,
6.000%, 06/20/2043		922,284		953,413
Series 2013-98, Class KF,
1M US SOFR + 0.41%, 11/20/2041^(a)		5,960		5,940
Series 2013-99, Class MF,
1M US SOFR + 0.41%, 07/20/2043^(a)		56,763		55,727
Series 2013-H01, Class FA,
1.650%, 01/20/2063		14		13
Series 2013-H04, Class BA,
1.650%, 02/20/2063		1,563		1,425
Series 2013-H07, Class GA,
1M US SOFR + 0.58%, 03/20/2063^(a)		51,618		51,493
Series 2013-H09, Class HA,
1.650%, 04/20/2063		5,016		4,686
Series 2013-H18, Class EA,
1M US SOFR + 0.61%, 07/20/2063^(a)		6,086		6,074
Series 2014-118, Class ZP,
4.000%, 08/20/2044		469,441		440,320
Series 2014-119, Class ZK,
3.500%, 08/16/2044		1,131,365		1,046,380

	Principal Amount		Value (Note 2)
Series 2014-32, Class DA,
3.500%, 02/20/2044	$	101,590	$	87,361
Series 2014-53, Class JM,
6.976%, 04/20/2039^(a)		138,892		146,093
Series 2014-98, Class ZP,
3.000%, 07/16/2044		242,337		187,385
Series 2014-98, Class HE,
3.000%, 07/20/2044		53,984		43,732
Series 2014-H10, Class TA,
1M US SOFR + 0.71%, 04/20/2064^(a)		260,942		260,895
Series 2014-H15, Class FA,
1M US SOFR + 0.61%, 07/20/2064^(a)		17,665		17,639
Series 2014-H16, Class FL,
1M US SOFR + 0.58%, 07/20/2064^(a)		296,720		295,500
Series 2014-H19, Class HA,
3.000%, 09/20/2064		33,911		33,042
Series 2015-100, Class PD,
3.000%, 07/20/2045		193,679		177,125
Series 2015-190, Class LE,
3.500%, 06/20/2045		5,487		5,413
Series 2015-63, Class KA,
3.000%, 04/20/2040		33,494		27,945
Series 2015-84, Class QA,
3.500%, 06/20/2045		223,879		202,532
Series 2015-91, Class QA,
2.916%, 05/20/2045^(a)		1,402,901		1,234,758
Series 2015-H09, Class FA,
1M US SOFR + 0.73%, 04/20/2065^(a)		221,834		221,385
Series 2015-H12, Class FB,
1M US SOFR + 0.71%, 05/20/2065^(a)		50,841		50,733
Series 2015-H15, Class FC,
1M US SOFR + 0.69%, 06/20/2065^(a)		86,360		86,107
Series 2015-H22, Class FC,
1M US SOFR + 0.71%, 09/20/2065^(a)		36,360		36,273
Series 2015-H26, Class FA,
1M US SOFR + 0.63%, 10/20/2065^(a)		39,636		39,590
Series 2015-H26, Class FG,
1M US SOFR + 0.63%, 10/20/2065^(a)		185,090		184,439

	Principal Amount		Value (Note 2)
Series 2015-H27, Class FA,
1M US SOFR + 0.86%, 09/20/2065^(a)	$	1,685,161	$	1,684,559
Series 2015-H29, Class FA,
1M US SOFR + 0.81%, 10/20/2065^(a)		1,747		1,741
Series 2015-H30, Class FE,
1M US SOFR + 0.71%, 11/20/2065^(a)		39,770		39,767
Series 2015-H31, Class FT,
1M US SOFR + 0.76%, 11/20/2065^(a)		10,769		10,768
Series 2015-H32, Class FH,
1M US SOFR + 0.77%, 12/20/2065^(a)		132,472		132,555
Series 2016-116, Class GV,
3.000%, 05/20/2026		20,713		20,146
Series 2016-120, Class KA,
2.000%, 09/20/2046		4,738		4,018
Series 2016-136, Class PJ,
3.500%, 01/20/2046		191,080		163,657
Series 2016-136, Class MY,
2.500%, 10/20/2046		100,000		64,975
Series 2016-163, Class B,
3.000%, 10/20/2046		119,000		89,883
Series 2016-19, Class AC,
3.000%, 02/20/2046		259,000		217,074
Series 2016-46, Class Z,
3.000%, 04/20/2046		124,201		89,742
Series 2016-82, Class BA,
3.000%, 09/20/2045		32,433		31,643
Series 2016-H06, Class FC,
1M US SOFR + 1.03%, 02/20/2066^(a)		101,246		101,429
Series 2016-H08, Class FT,
1M US SOFR + 0.83%, 02/20/2066^(a)		46,502		46,497
Series 2016-H11, Class F,
1M US SOFR + 0.91%, 05/20/2066^(a)		2,779,592		2,780,205
Series 2016-H13, Class FT,
1M US SOFR + 0.69%, 05/20/2066^(a)		6,101		6,098
Series 2016-H14, Class FA,
1M US SOFR + 0.91%, 06/20/2066^(a)		459,656		459,748
Series 2016-H15, Class FA,
1M US SOFR + 0.91%, 07/20/2066^(a)		1,081,353		1,081,529

	Principal Amount		Value (Note 2)
Series 2016-H17, Class FK,
1M US SOFR + 0.96%, 07/20/2066^(a)	$	51,469	$	51,514
Series 2016-H17, Class FC,
1M US SOFR + 0.94%, 08/20/2066^(a)		155,936		156,037
Series 2016-H17, Class HA,
2.250%, 03/20/2066		138,158		134,053
Series 2016-H20, Class PT,
7.168%, 09/20/2066^(a)		423,726		432,711
Series 2016-H23, Class PT,
7.495%, 09/20/2066^(a)		557,181		565,863
Series 2016-H23, Class F,
1M US SOFR + 0.86%, 10/20/2066^(a)		138,043		138,846
Series 2016-H24, Class FG,
1M US SOFR + 0.86%, 10/20/2066^(a)		426,651		426,471
Series 2016-H26, Class FC,
1M US SOFR + 1.11%, 12/20/2066^(a)		88,779		89,057
Series 2017-150, Class JE,
3.000%, 07/20/2047		55,844		51,765
Series 2017-170, Class MC,
2.500%, 10/20/2047		50,940		45,285
Series 2017-36, Class MJ,
3.000%, 03/20/2047		32,915		28,746
Series 2017-56, Class AZ,
3.000%, 04/20/2047		118,712		97,891
Series 2017-80, Class LO,
–%, 05/20/2047^(b)		99,021		74,634
Series 2017-80, Class BJ,
3.000%, 03/20/2047		81,097		73,906
Series 2017-H06, Class FE,
1M US SOFR + 0.66%, 02/20/2067^(a)		54,684		54,637
Series 2017-H14, Class FD,
1M US SOFR + 0.58%, 06/20/2067^(a)		81,989		81,584
Series 2017-H15, Class FC,
1M US SOFR + 0.58%, 06/20/2067^(a)		169,580		169,291
Series 2017-H16, Class PT,
4.861%, 05/20/2066^(a)		13,673		13,541
Series 2017-H17, Class FG,
1M US SOFR + 0.61%, 08/20/2067^(a)		16,795		16,768
Series 2017-H22, Class FH,
1Y US SOFR + 0.94%, 11/20/2067^(a)		233,095		232,853

	Principal Amount		Value (Note 2)
Series 2018-131, Class QA,
3.000%, 12/20/2047	$	247,959	$	227,115
Series 2018-160, Class AD,
3.500%, 02/20/2048		211,695		199,860
Series 2018-36, Class CZ,
4.000%, 03/20/2048		286,163		250,965
Series 2018-37, Class C,
2.500%, 01/20/2046		132,536		122,401
Series 2018-H07, Class FD,
1M US SOFR + 0.41%, 05/20/2068^(a)		89,147		89,217
Series 2018-H09, Class FA,
1Y US SOFR + 1.22%, 04/20/2068^(a)		392,437		401,135
Series 2019-1, Class EY,
4.000%, 10/20/2048		1,066,499		976,664
Series 2019-103, Class EK,
4.000%, 04/20/2049		2,921,162		2,714,206
Series 2019-111, Class TE,
2.000%, 09/20/2049		40,811		34,046
Series 2019-128, Class AL,
2.500%, 10/20/2049		300,000		213,462
Series 2019-15, Class A,
–%, 07/20/2048^(a)(b)		300,226		181,038
Series 2019-18, Class HD,
3.500%, 02/20/2049		165,000		146,651
Series 2019-36, Class PD,
3.000%, 02/20/2049		235,373		212,481
Series 2019-H01, Class FT,
1M US SOFR + 0.51%, 10/20/2068^(a)		25,691		25,629
Series 2019-H04, Class BA,
3.000%, 01/20/2069		83,242		81,435
Series 2019-H05, Class FT,
1Y US TI + 0.43%, 04/20/2069^(a)		22,627		22,619
Series 2019-H08, Class FM,
1M US SOFR + 0.76%, 05/20/2069^(a)		1,797,389		1,785,739
Series 2020-122, Class GZ,
3.000%, 08/20/2050		263,137		173,018
Series 2020-125, Class GA,
2.500%, 03/20/2050		317,469		283,246
Series 2020-125, Class GC,
2.500%, 08/20/2050		21,180		17,774
Series 2020-127, Class LZ,
1.500%, 08/20/2050		567,352		235,624

	Principal Amount		Value (Note 2)
Series 2020-134, Class ZU,
3.000%, 09/20/2050	$	113,808	$	69,644
Series 2020-148, Class ZP,
2.000%, 10/20/2050		229,575		94,674
Series 2020-149, Class LU,
1.000%, 10/20/2050		199,996		90,308
Series 2020-153, Class ML,
2.500%, 10/20/2050		280,786		237,101
Series 2020-153, Class MP,
2.500%, 10/20/2050		298,345		261,489
Series 2020-187, Class KZ,
2.000%, 12/20/2050		166,506		64,305
Series 2020-32, Class UM,
2.500%, 03/20/2050		1,155,142		1,029,545
Series 2020-5, Class LC,
3.500%, 10/20/2049		125,997		116,959
Series 2020-61, Class AB,
3.000%, 05/20/2048		46,867		45,865
Series 2020-62, Class PD,
3.000%, 05/20/2050		444,171		387,938
Series 2020-62, Class WD,
0.468%, 05/20/2050^(a)		488,945		281,291
Series 2020-83, Class ML,
3.000%, 06/20/2050		114,381		102,764
Series 2020-98, Class CE,
3.000%, 07/20/2050		1,146,663		1,017,896
Series 2020-H01, Class FT,
1Y US TI + 0.50%, 01/20/2070^(a)		25,197		25,072
Series 2020-H02, Class DA,
2.250%, 12/20/2069		94,447		91,501
Series 2020-H04, Class FP,
1M US SOFR + 0.61%, 06/20/2069^(a)		199,144		198,732
Series 2020-H12, Class FE,
1M US SOFR + 1.21%, 06/20/2070^(a)		943,315		959,735
Series 2020-H13, Class FA,
1M US SOFR + 0.56%, 07/20/2070^(a)		185,013		182,201
Series 2021-104, Class AL,
1.500%, 06/20/2051		120,000		55,896
Series 2021-116, Class WZ,
2.000%, 07/20/2051		379,989		200,645
Series 2021-116, Class LZ,
2.500%, 07/20/2051		338,794		214,147
Series 2021-142, Class PZ,
0.750%, 08/20/2051		306,633		168,203
Series 2021-146, Class DE,
1.750%, 08/20/2051		387,332		342,329

	Principal Amount		Value (Note 2)
Series 2021-146, Class PO,
–%, 07/20/2051^(b)	$	338,715	$	118,609
Series 2021-158, Class GK,
2.000%, 09/20/2051		150,493		94,366
Series 2021-205, Class NK,
1.500%, 11/20/2051		215,000		134,701
Series 2021-25, Class HA,
2.000%, 02/20/2051		726,626		601,347
Series 2021-8, Class KZ,
2.000%, 01/20/2051		156,577		60,348
Series 2021-8, Class AQ,
5.000%, 01/20/2051		140,544		141,671
Series 2021-H01, Class FA,
1M US SOFR + 1.36%, 11/20/2070^(a)		2,807,514		2,853,549
Series 2021-H12, Class GA,
4.581%, 07/20/2071^(a)		108,721		107,253
Series 2022-100, Class EB,
3.000%, 06/20/2052		1,729,475		1,345,416
Series 2022-104, Class KY,
4.500%, 06/20/2052		383,627		348,800
Series 2022-112, Class BM,
3.000%, 06/20/2052		344,718		258,067
Series 2022-126, Class BY,
3.000%, 07/20/2052		960,094		616,933
Series 2022-127, Class UL,
2.000%, 07/20/2052		309,557		155,187
Series 2022-127, Class WC,
3.500%, 07/20/2052		329,622		221,472
Series 2022-137, Class PL,
4.000%, 08/20/2052		288,633		227,950
Series 2022-20, Class KZ,
2.500%, 01/20/2052		110,700		47,707
Series 2022-212, Class DZ,
5.500%, 12/20/2052		2,690,751		2,721,654
Series 2022-44, Class KZ,
4.500%, 03/20/2052		596,295		521,888
Series 2022-51, Class HZ,
3.000%, 03/20/2052		303,678		181,670
Series 2022-68, Class MD,
3.500%, 04/20/2052		223,000		165,867
Series 2022-76, Class PA,
4.000%, 04/20/2052		788,562		759,805
Series 2022-78, Class YX,
4.500%, 01/20/2051		794,017		786,115
Series 2022-H06, Class AB,
3.811%, 07/20/2067		142,719		140,096

	Principal Amount		Value (Note 2)
Series 2023-150, Class JD,
6.000%, 10/20/2053	$	407,200	$	426,263
Series 2023-47, Class HZ,
5.500%, 03/20/2053		1,340,224		1,351,912
Series 2023-55, Class HB,
6.500%, 04/20/2053		3,822,002		3,944,243
Series 2023-55, Class EB,
6.000%, 04/20/2053		23,483,111		23,762,611
Series 2023-57, Class CV,
5.000%, 04/20/2034		1,973,508		1,981,456
Series 2023-59, Class GL,
6.000%, 04/20/2053		7,761,342		7,867,875
Series 2023-68, Class HB,
6.500%, 05/20/2053		10,712,834		11,235,658
				110,995,015
Vendee Mortgage Trust 2011-2
Series 2011-2, Class DZ,
3.750%, 10/15/2041		885,474		823,287

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $279,975,592)				273,639,129

	Principal Amount		Value (Note 2)
COMMERCIAL MORTGAGE-BACKED SECURITIES (1.92%)

Fannie Mae-Aces
Series 2001-M1, Class D,
6.460%, 02/25/2031^(a)		87,760		87,418
Series 2006-M2, Class A3F,
5.345%, 09/25/2031^(a)		145,387		146,112
Series 2013-M6, Class 1AC,
3.388%, 02/25/2043^(a)		10,045,429		9,576,432
Series 2016-M11, Class AL,
2.944%, 07/25/2039		418,786		378,358
Series 2018-M12, Class A1,
3.546%, 08/25/2030		1,557,767		1,528,050
Series 2018-M15, Class 1A2,
3.700%, 01/25/2036		470,000		444,113
Series 2019-M10, Class A1,
2.000%, 04/25/2030		235,389		229,873
Series 2019-M14, Class A1,
2.304%, 06/25/2029		13,103		12,950
Series 2019-M24, Class 2XA,
1.143%, 03/25/2031^(a)(c)		4,211,697		219,998
Series 2020-M1, Class A2,
2.444%, 10/25/2029		300,000		272,950

	Principal Amount		Value (Note 2)
Series 2020-M10, Class X1,
1.771%, 12/25/2030^(a)(c)	$	754,729	$	52,288
Series 2020-M10, Class X4,
0.885%, 07/25/2032^(a)(c)		46,622,601		1,938,549
Series 2020-M12, Class IO,
1.285%, 07/25/2029^(a)(c)		54,275,234		2,312,896
Series 2020-M13, Class X2,
1.227%, 09/25/2030^(a)(c)		7,283,751		312,726
Series 2022-M5, Class A1,
2.354%, 01/01/2034^(a)		284,303		262,091
Series 2022-M5, Class A3,
2.354%, 01/01/2034^(a)		1,495,000		1,252,060
Series 2022-M8, Class A2,
1.936%, 12/25/2031^(a)		100,000		84,164
				19,111,028
Freddie Mac Multiclass Certificates Series 2020-P003
Series 2020-P003, Class A3,
1.956%, 09/25/2046		1,600,000		1,179,133

Freddie Mac Multifamily Structured Pass Through Certificates
Series 2016-KS07, Class A1,
2.018%, 09/25/2025		1,191,013		1,168,128
Series 2016-KS07, Class X,
0.604%, 09/25/2025^(a)(c)		64,431,195		421,193
Series 2017-K153, Class X1,
0.272%, 10/25/2031^(a)(c)		99,332,360		1,250,465
Series 2017-Q006, Class A2,
3.774%, 04/25/2028^(a)		3,990,942		3,812,406
Series 2018-K154, Class X1,
0.292%, 11/25/2032^(a)(c)		134,979,563		2,334,175
Series 2018-K156, Class X1,
0.069%, 06/25/2033^(a)(c)		622,245,918		4,126,611
Series 2018-K158, Class X1,
0.071%, 10/25/2033^(a)(c)		349,465,078		2,733,306
Series 2019-KLU2, Class X1,
0.956%, 08/25/2029^(a)(c)		85,139,807		3,096,075
Series 2020-Q013, Class APT2,
1.165%, 04/25/2027^(a)		3,322,723		3,058,174
Series 2021-1521, Class X1,
0.979%, 08/25/2036^(a)(c)		15,588,731		1,264,860

	Principal Amount		Value (Note 2)
Series 2021-KLU3, Class X1,
1.933%, 01/25/2031^(a)(c)	$	174,436,326	$	15,365,277
				38,630,670

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES
(Cost $62,801,595)				58,920,831

	Principal Amount		Value (Note 2)
MORTGAGE-BACKED SECURITIES (14.86%)

Fannie Mae Pool
Series 2003-386375,
4.790%, 08/01/2028		545,826		543,767
Series 2005-843080,
6.000%, 12/01/2034		105,596		105,765
Series 2006-,
6.000%, 02/01/2036		93,187		94,072
Series 2007-943003,
5.500%, 08/01/2047		75,502		75,530
Series 2009-,
4.500%, 06/01/2039		290,406		284,572
Series 2009-463331,
5.250%, 08/01/2029		449,850		457,581
Series 2009-930895,
4.500%, 03/01/2039		143,798		140,911
Series 2009-931707,
4.500%, 08/01/2039		88,212		86,170
Series 2009-958348,
5.440%, 04/01/2027		125,664		125,197
Series 2009-958878,
5.750%, 07/01/2027		1,248,004		1,243,376
Series 2010-,
3.500%, 10/01/2040		288,378		273,541
Series 2011-,
6.210%, 12/01/2029		216,915		226,026
Series 2011-468477,
4.590%, 08/01/2026		377,689		377,352
Series 2011-469013,
5.470%, 08/01/2026		962,700		978,907
Series 2011-AH9290,
4.000%, 04/01/2041		29,440		27,919
Series 2012-,
3.000%, 12/01/2042		95,657		85,980
3.000%, 01/01/2043		119,626		108,781
3.040%, 12/01/2030		1,138,663		1,057,541
3.500%, 04/01/2042		51,880		47,909
Series 2012-470020,
4.200%, 01/01/2030		1,511,858		1,493,043

	Principal Amount		Value (Note 2)
Series 2012-AM0279,
3.210%, 08/01/2027	$	276,927	$	266,790
Series 2012-AM1387,
3.260%, 11/01/2032		95,903		91,577
Series 2012-MA1214,
3.000%, 10/01/2042		554,791		498,834
Series 2013-,
3.000%, 01/01/2043		266,117		241,997
3.000%, 02/01/2043		339,887		305,508
3.000%, 04/01/2043		212,095		189,590
3.000%, 07/01/2043		233,681		208,903
3.000%, 08/01/2043		64,586		58,181
3.380%, 05/01/2028		247,551		239,838
4.370%, 07/01/2028		815,235		814,346
4.410%, 09/01/2028		83,080		83,008
Series 2013-AM4329,
3.870%, 10/01/2025		185,752		183,147
Series 2013-AM4781,
4.180%, 11/01/2028		1,155,632		1,145,389
Series 2013-AM4991,
3.970%, 12/01/2025		152,781		150,774
Series 2013-AR2289,
3.000%, 02/01/2033		175,699		166,462
Series 2013-AT9663,
2.500%, 07/01/2043		410,692		351,463
Series 2013-MA1586,
3.000%, 08/01/2043		155,737		141,621
Series 2014-,
3.000%, 06/01/2053		1,080,065		945,632
3.300%, 11/01/2026		252,633		246,080
3.730%, 07/01/2034		558,890		543,245
4.060%, 03/01/2030		447,394		441,315
Series 2014-AM7274,
3.000%, 12/01/2024		6,300,000		6,232,264
Series 2015-,
3.100%, 09/01/2025		150,824		147,425
3.180%, 07/01/2035		654,790		592,528
3.390%, 07/01/2035		191,167		177,572
3.500%, 10/01/2045		1,440,186		1,335,153
3.600%, 02/01/2040		225,824		212,687
3.610%, 08/01/2030		300,000		287,814
4.000%, 01/01/2041		115,317		111,424
4.500%, 06/01/2045		130,506		128,525
Series 2015-AM8666,
2.960%, 06/01/2030		167,215		156,325
Series 2015-AM8918,
3.250%, 09/01/2030		731,000		686,745
Series 2015-AM9173,
3.110%, 06/01/2027		228,317		219,767
Series 2015-AM9288,
2.930%, 07/01/2025		5,449,757		5,334,249

	Principal Amount		Value (Note 2)
Series 2016-,
3.159%, 07/01/2036^(a)	$	1,636,998	$	1,468,996
6.000%, 07/01/2039		100,722		103,224
Series 2016-AL8405,
4.500%, 05/01/2041		124,347		122,970
Series 2016-AN0665,
3.070%, 02/01/2026		187,750		182,866
Series 2016-AN0774,
3.210%, 01/01/2026		166,487		162,589
Series 2016-AN2228,
2.520%, 08/01/2026		180,165		172,432
Series 2016-AN3542,
3.410%, 11/01/2046		343,234		299,179
Series 2016-AN3749,
2.520%, 12/01/2026		435,641		417,086
Series 2016-BC0943,
3.500%, 05/01/2046		255,776		239,996
Series 2017-,
2.000%, 01/01/2032		103,261		95,213
2.880%, 09/01/2027		4,669,415		4,459,419
3.000%, 10/01/2027		1,233,110		1,186,701
3.010%, 07/01/2027		254,102		243,725
3.160%, 07/01/2027		145,484		140,822
3.170%, 01/01/2029		190,311		180,650
3.200%, 01/01/2029		143,012		136,694
3.210%, 11/01/2032		100,000		90,758
3.235%, 02/01/2032		135,225		125,717
3.350%, 01/01/2029		189,810		181,866
3.450%, 03/01/2029		297,812		287,651
3.500%, 06/01/2047		281,771		256,145
Series 2017-AN4431,
3.220%, 01/01/2027		85,000		82,534
Series 2017-AN4469,
3.640%, 01/01/2029		657,573		638,314
Series 2017-AN4529,
3.620%, 01/01/2027		789,177		773,748
Series 2017-AN4606,
3.510%, 02/01/2027		754,460		738,202
Series 2017-AN4833,
3.320%, 04/01/2027		95,000		92,352
Series 2017-AN5279,
3.340%, 04/01/2029		436,209		417,049
Series 2017-AN5742,
3.190%, 05/01/2030		131,884		124,505
Series 2017-AN5796,
3.030%, 06/01/2027		261,232		252,087
Series 2017-AN6304,
3.100%, 10/01/2027		275,000		264,392

	Principal Amount		Value (Note 2)
Series 2017-AN6670,
3.210%, 09/01/2027	$	1,847,170	$	1,772,082
Series 2017-AN7060,
2.930%, 10/01/2027		1,780,000		1,699,209
Series 2017-AN7234,
3.010%, 12/01/2027		973,836		935,782
Series 2017-AN7384,
2.880%, 12/01/2027		46,790		44,662
Series 2017-AN7547,
3.370%, 11/01/2027		1,052,168		1,013,068
Series 2017-AN7823,
2.890%, 12/01/2027		235,000		224,259
Series 2017-CA0522,
3.000%, 10/01/2047		199,658		175,149
Series 2018-,
3.000%, 02/01/2033		43,101		40,573
3.000%, 04/01/2048		919,347		828,028
3.320%, 04/01/2028		550,000		530,922
3.430%, 03/01/2033		978,284		905,350
3.485%, 04/01/2028		6,350,000		6,163,522
3.500%, 09/01/2028		130,000		125,762
3.500%, 05/01/2048		185,446		178,470
3.545%, 04/01/2028		638,388		621,469
3.660%, 05/01/2033		700,000		655,776
3.740%, 07/01/2028		175,000		171,364
3.940%, 10/01/2036		318,082		298,398
4.010%, 12/01/2030		297,750		292,940
4.500%, 09/01/2040		106,551		103,775
4.500%, 07/01/2041		250,296		244,287
4.500%, 08/01/2041		278,411		277,608
5.500%, 08/01/2048		481,645		489,381
6.000%, 08/01/2048		102,101		104,180
Series 2018-109435,
3.890%, 08/01/2028		1,822,529		1,794,834
Series 2018-387770,
3.625%, 07/01/2028		2,570,000		2,505,834
Series 2018-387853,
3.455%, 08/01/2025		225,000		220,776
Series 2018-387983,
3.630%, 08/01/2028		1,972,517		1,924,104
Series 2018-AN8272,
3.170%, 02/01/2028		100,000		96,142
Series 2018-AN8493,
3.300%, 02/01/2030		408,745		384,197
Series 2018-AN8982,
3.440%, 05/01/2028		998,674		965,373
Series 2018-AN9038,
3.460%, 05/01/2028		135,000		130,958
Series 2018-AN924,
4.210%, 05/01/2033		502,340		497,445

	Principal Amount		Value (Note 2)
Series 2018-AN9976,
3.960%, 02/01/2030	$	470,000	$	459,094
Series 2019-,
2.520%, 11/01/2029		140,036		128,945
2.820%, 10/01/2039		923,716		772,182
3.000%, 08/01/2049		70,387		63,460
3.490%, 03/01/2029		189,000		182,309
3.500%, 08/01/2048		117,258		108,867
3.710%, 04/01/2031		1,864,229		1,792,108
3.940%, 06/01/2035		2,600,000		2,434,701
4.000%, 07/01/2048		605,518		580,194
4.070%, 11/01/2026		130,389		128,200
4.500%, 08/01/2058		409,844		398,288
5.500%, 06/01/2049		170,409		173,968
6.000%, 05/01/2049		1,829,915		1,893,257
Series 2019-BI2928,
3.410%, 07/01/2027		794,514		772,118
Series 2019-BL1188,
3.480%, 02/01/2026		192,143		188,116
Series 2019-BL1300,
4.200%, 01/01/2029		1,375,000		1,366,478
Series 2019-BL1451,
3.760%, 02/01/2029		680,827		666,967
Series 2019-BL1567,
3.590%, 02/01/2029		2,756,800		2,666,136
Series 2019-BL1596,
3.480%, 03/01/2029		159,195		153,723
Series 2019-BL2356,
3.020%, 05/01/2026		165,000		160,420
Series 2019-BL2460,
3.400%, 05/01/2029		559,563		537,937
Series 2019-BL3182,
2.980%, 07/01/2029		241,509		227,774
Series 2019-BM6011,
3.283%, 11/01/2026^(a)		57,694		56,320
Series 2019-BM6152,
3.500%, 06/01/2044		954,066		895,252
Series 2019-MA3784,
3.500%, 09/01/2049		2,141,234		1,914,750
Series 2020-,
1.400%, 11/01/2032		7,945,000		6,322,502
1.500%, 01/01/2036		663,228		575,031
2.150%, 09/01/2029		500,000		449,693
3.000%, 03/01/2050		226,838		194,908
3.500%, 04/01/2050		173,053		154,664
Series 2021-,
1.710%, 08/01/2031		751,000		629,480
3.500%, 11/01/2051		716,753		638,812
Series 2022-,
2.030%, 12/01/2028		100,000		91,050
2.150%, 03/01/2029		150,000		136,722

	Principal Amount		Value (Note 2)
2.400%, 03/01/2029	$	144,047	$	133,229
3.130%, 01/01/2029		146,103		139,012
3.790%, 05/01/2032		2,148,000		2,020,238
3.890%, 07/01/2032		690,000		662,627
3.910%, 06/01/2032		1,181,000		1,123,855
3.980%, 10/01/2032		700,000		678,076
4.110%, 09/01/2032		1,815,000		1,748,505
4.140%, 08/01/2032		2,038,000		1,966,094
4.240%, 07/01/2032		1,687,000		1,643,693
4.520%, 10/01/2032		1,209,000		1,196,769
5.080%, 10/01/2029		950,000		979,890
5.120%, 11/01/2032		2,979,000		3,051,432
5.250%, 10/01/2032		7,898,000		8,194,000
5.300%, 10/01/2032		8,632,000		8,984,685
5.440%, 12/01/2032		7,633,000		7,975,197
5.500%, 07/01/2042		1,122,279		1,140,858
5.500%, 11/01/2052		10,511,659		10,633,451
5.620%, 11/01/2032		2,901,983		3,074,446
5.730%, 11/01/2032		16,500,000		17,564,050
6.120%, 11/01/2032		1,666,189		1,801,237
6.500%, 11/01/2052		1,968,854		1,996,369
Series 2023-,
1.500%, 01/01/2042		4,174,372		3,456,682
4.885%, 03/01/2033		750,000		771,614
5.030%, 04/01/2028		4,957,000		4,987,953
5.470%, 11/01/2033		1,011,968		1,066,375
5.500%, 02/01/2053		8,427,088		8,475,740
5.555%, 01/01/2030		8,933,000		9,233,129
6.000%, 02/01/2053		968,561		985,874
6.500%, 06/01/2043		3,239,766		3,325,015
6.500%, 04/01/2053		1,601,127		1,652,003
6.500%, 05/01/2053		4,243,926		4,424,541
6.500%, 08/01/2053		9,445,065		9,937,949
7.000%, 04/01/2053		1,257,896		1,288,931
Series 2024-,
7.000%, 02/01/2054		1,662,273		1,740,167
7.000%, 05/01/2054		2,125,643		2,206,441
				229,298,232
Freddie Mac
Series 2005-2936, Class FC,
30D US SOFR + 0.51%, 03/15/2029^(a)		12,063		12,005

Freddie Mac Gold Pool
Series 2005-,
5.500%, 12/01/2035		159,565		155,491
Series 2006-,
6.000%, 01/01/2036		28,575		28,918
Series 2007-,
5.500%, 11/01/2037		56,329		56,298
Series 2012-,
3.500%, 08/01/2042		97,766		90,149

	Principal Amount		Value (Note 2)
Series 2013-G80393,
5.000%, 08/20/2036	$	115,760	$	115,081
Series 2013-T65180,
3.000%, 11/01/2043		96,964		87,264
Series 2015-,
3.000%, 08/01/2045		1,903,751		1,709,865
Series 2015-U49046,
4.000%, 02/01/2029		21,377		20,953
Series 2016-,
3.500%, 06/01/2046		347,415		326,382
				2,590,401
Freddie Mac Pool
Series 2018-,
3.000%, 05/01/2045		248,268		223,351
3.000%, 09/01/2045		684,500		611,793
3.000%, 12/01/2045		360,984		316,603
3.500%, 12/01/2045		53,947		49,011
4.500%, 09/01/2044		455,750		438,099
6.000%, 07/01/2048		230,303		234,673
Series 2020-,
2.000%, 06/01/2050		810,280		636,956
Series 2021-,
2.190%, 06/01/2034		145,297		120,004
Series 2022-,
3.000%, 02/01/2046		3,726,675		3,321,769
Series 2023-,
4.600%, 01/01/2033		6,743,000		6,679,762
4.750%, 01/01/2033		16,673,950		16,653,551
4.900%, 01/01/2033		5,000,000		5,038,128
5.500%, 02/01/2053		9,252,551		9,276,357
6.500%, 04/01/2053		24,263,269		25,043,175
6.500%, 05/01/2053		14,416,104		14,994,774
7.000%, 01/01/2053		3,367,444		3,511,218
				87,149,224
Ginnie Mae I Pool
Series 2010-,
4.500%, 08/15/2040		302,451		293,539
Series 2013-,
3.000%, 03/15/2043		324,858		297,059
				590,598
Ginnie Mae II Pool
Series 2010-,
4.000%, 09/20/2040		77,539		73,696
4.000%, 11/20/2040		76,945		73,149
4.000%, 12/20/2040		150,078		143,630
4.500%, 08/20/2040		250,397		244,381
4.875%, 01/20/2035		123,440		122,076
1M US SOFR + 2.071%, 08/20/2060^(a)		212,913		218,202
Series 2011-,
4.000%, 09/20/2041		231,651		223,134

	Principal Amount		Value (Note 2)
4.000%, 10/20/2041	$	114,836	$	110,094
4.500%, 07/20/2041		77,118		75,011
Series 2012-,
3.500%, 03/20/2042		317,514		289,889
3.500%, 04/20/2042		68,754		62,772
3.500%, 05/20/2042		121,066		110,531
3.500%, 06/20/2042		73,452		67,060
3.500%, 08/20/2042		78,457		71,661
3.500%, 09/20/2042		63,155		57,684
3.500%, 10/20/2042		73,808		67,414
3.500%, 12/20/2042		204,426		186,635
4.000%, 02/20/2042		22,243		21,140
4.000%, 04/20/2042		86,932		82,623
4.000%, 09/20/2042		89,702		86,058
Series 2012-5302,
3.500%, 02/20/2042		188,770		172,418
Series 2013-,
2.500%, 02/20/2043		116,202		100,139
3.000%, 06/20/2043		180,808		161,495
3.000%, 08/20/2043		394,218		358,865
3.250%, 04/20/2033		247,589		236,014
3.500%, 04/20/2043		201,799		184,283
3.500%, 05/20/2043		92,170		85,152
3.500%, 06/20/2043		92,768		85,829
4.000%, 09/20/2043		255,917		244,189
Series 2013-MA1149,
3.000%, 07/20/2043		11,489		10,195
Series 2014-,
4.500%, 02/20/2034		251,779		249,494
4.500%, 06/20/2034		516,165		511,413
4.500%, 02/20/2044		245,324		246,470
4.500%, 05/20/2044		918,858		899,979
1M US SOFR + 2.295%, 02/20/2064^(a)		502,458		516,560
Series 2015-,
3.000%, 01/20/2040		207,097		184,920
3.500%, 06/20/2035		225,187		215,952
3.750%, 05/20/2045		96,346		90,743
4.500%, 08/20/2045		505,361		495,921
Series 2016-,
2.500%, 05/20/2031		191,320		181,667
3.000%, 06/20/2046		214,342		192,653
3.000%, 07/20/2046		209,304		186,867
3.500%, 06/20/2046		351,705		325,827
4.500%, 09/20/2045		219,420		214,919
4.500%, 03/20/2046		146,957		147,654
Series 2016-MA3588,
3.500%, 04/20/2046		244,087		222,825
Series 2016-MA3793,
3.500%, 07/20/2046		670,350		612,219

	Principal Amount		Value (Note 2)
Series 2016-MA3865,
3.500%, 08/20/2046	$	417,858	$	381,457
Series 2017-,
2.500%, 01/20/2032		217,277		206,112
3.000%, 11/20/2032		198,514		188,463
3.500%, 10/20/2047		158,716		147,114
3.500%, 12/20/2047		753,728		693,048
4.496%, 01/20/2067^(a)		117,330		114,861
Series 2018-,
3.500%, 02/20/2036		2,264,104		2,153,168
3.500%, 08/20/2047		109,256		101,839
3.500%, 01/20/2048		60,878		56,585
3.500%, 04/20/2048		424,587		395,055
4.000%, 05/20/2048		2,488,689		2,356,226
4.000%, 09/20/2048		2,300,562		2,178,826
4.500%, 07/20/2048		578,109		555,313
4.500%, 09/20/2048		267,659		262,426
5.500%, 10/20/2048		364,630		371,208
Series 2019-,
3.500%, 12/20/2047		395,767		367,512
3.500%, 08/20/2049		354,335		328,234
3.500%, 12/20/2049		132,714		120,726
4.000%, 04/20/2049		101,016		93,957
4.500%, 09/20/2049		350,089		341,386
4.500%, 11/20/2049		744,731		721,606
5.500%, 06/20/2049		98,636		99,868
6.000%, 01/20/2049		303,244		312,533
Series 2019-784688,
5.000%, 02/20/2049		682,267		677,490
Series 2019-MA5864,
3.000%, 04/20/2049		20,966		18,792
Series 2019-MA5920,
3.000%, 05/20/2049		13,300		11,800
Series 2019-MA5936,
6.500%, 05/20/2049		34,577		36,133
Series 2020-,
2.000%, 11/20/2050		2,949,024		2,407,640
2.500%, 01/20/2050		174,165		148,330
3.000%, 11/20/2050		149,064		131,331
3.500%, 12/20/2049		1,689,938		1,518,548
3.500%, 10/20/2050		196,591		178,107
4.000%, 02/20/2050		332,532		314,954
4.000%, 04/20/2050		526,978		490,145
4.000%, 05/20/2050		162,164		150,829
4.000%, 11/20/2050		678,680		629,023
Series 2021-,
2.000%, 09/20/2051		2,332,870		1,865,318
3.000%, 08/20/2051		881,974		797,197
4.000%, 02/20/2051		201,203		187,138
4.000%, 03/20/2051		1,549,087		1,469,616
Series 2022-,
3.000%, 12/20/2044		2,532,969		2,233,132
3.000%, 05/20/2052		3,114,163		2,706,985

	Principal Amount		Value (Note 2)
4.000%, 08/20/2052	$	1,834,316	$	1,732,565
4.000%, 09/20/2052		14,402,479		13,592,705
5.000%, 05/20/2052		1,016,818		989,965
5.000%, 06/20/2052		615,205		609,267
6.000%, 12/20/2052		1,914,214		1,965,313
Series 2023-,
5.500%, 05/20/2053		6,238,041		6,311,038
6.000%, 08/20/2053		16,720,652		17,217,636
6.500%, 04/20/2053		10,418,968		10,730,865
6.500%, 10/20/2053		14,190,090		14,632,977
6.500%, 11/20/2053		2,704,694		2,737,897
7.000%, 10/20/2053		3,461,866		3,575,549
8.000%, 12/20/2063		6,373,773		6,582,197
Series 2024-,
3.000%, 10/20/2050		4,850,661		4,243,647
6.500%, 04/20/2064		3,079,072		3,126,116
6.500%, 05/20/2064		4,366,377		4,443,083
8.000%, 12/20/2053		1,194,585		1,239,043
8.000%, 12/20/2063		4,683,645		4,806,976
				136,578,372

TOTAL MORTGAGE-BACKED SECURITIES
(Cost $455,991,764)				456,218,832

	Principal Amount		Value (Note 2)
CORPORATE BONDS (38.97%)

Aerospace & Defense (3.60%)
BAE Systems PLC
5.30%, 03/26/2034^(e)		7,620,000		7,725,684
BOEING CO BA
6.53%, 05/01/2034^(e)		25,117,000		26,376,329
Boeing Co.
2.20%, 02/04/2026		10,030,000		9,548,546
Howmet Aerospace, Inc.
3.00%, 01/15/2029		7,684,000		7,082,906
L3Harris Technologies, Inc.
5.35%, 06/01/2034		14,456,000		14,667,328
5.40%, 07/31/2033		7,533,000		7,676,575
5.50%, 08/15/2054		7,434,000		7,394,488
RTX Corp.
6.10%, 03/15/2034		20,504,000		22,107,169
6.40%, 03/15/2054		6,690,000		7,523,192
Total Aerospace & Defense				110,102,217

Airlines (0.71%)
Alaska Airlines 2020-1 Class A Pass Through Trust
4.80%, 08/15/2027^(e)		5,855,074		5,786,989
Alaska Airlines 2020-1 Class B Pass Through Trust
8.00%, 08/15/2025^(e)		2,632,381		2,676,671

	Principal Amount		Value (Note 2)
British Airways 2020-1 Class A Pass Through Trust
4.25%, 11/15/2032^(e)	$	1,079,056	$	1,034,097
Southwest Airlines Co.
5.25%, 05/04/2025		7,540,000		7,516,407
United Airlines 2020-1 Class A Pass Through Trust
Series 20-1
5.88%, 10/15/2027		4,730,206		4,789,700
Total Airlines				21,803,864

Automobiles Manufacturing (2.74%)
Ford Motor Credit Co. LLC
3.38%, 11/13/2025		6,500,000		6,339,176
6.80%, 05/12/2028		9,919,000		10,348,165
7.35%, 03/06/2030		10,487,000		11,266,600
Series 571
6.13%, 03/08/2034		7,395,000		7,408,187
General Motors Financial Co., Inc.
5.80%, 01/07/2029		6,977,000		7,177,730
6.10%, 01/07/2034		11,433,000		11,783,182
SOFRINDX + 1.30%, 04/07/2025^(a)(f)		14,667,000		14,753,269
Hyundai Capital America
5.45%, 06/24/2026^(e)		5,541,000		5,586,135
Nissan Motor Acceptance Co. LLC
7.05%, 09/15/2028^(e)		6,378,000		6,710,349
Volkswagen Group of America Finance LLC
3.95%, 06/06/2025^(e)		3,000,000		2,963,202
Total Automobiles Manufacturing				84,335,995

Banks (2.92%)
Citizens Bank NA
1D US SOFR + 1.45%, 10/24/2025^(a)		14,556,000		14,523,292
Citizens Financial Group, Inc.
1D US SOFR + 1.91%, 07/23/2032^(a)		7,500,000		7,595,302
Cooperatieve Rabobank UA
3.75%, 07/21/2026		4,500,000		4,384,257
Danske Bank A/S
1Y US TI + 0.95%, 03/01/2028^(a)(e)		6,412,000		6,492,364
1Y US TI + 1.35%, 09/11/2026^(a)(e)		6,500,000		6,236,169
1Y US TI + 1.40%, 03/01/2030^(a)(e)		4,580,000		4,686,101
Discover Bank
5Y US S + 1.73%, 08/09/2028^(a)		1,503,000		1,508,168
Goldman Sachs Bank USA
1D US SOFR + 0.78%, 03/18/2027^(a)		3,297,000		3,310,992

	Principal Amount		Value (Note 2)
Intesa Sanpaolo SpA
1Y US TI + 2.75%, 06/01/2042^(a)(e)	$	3,443,000	$	2,671,584
1Y US TI + 3.90%, 06/20/2054^(a)(e)		5,160,000		5,548,326
Truist Bank
3.30%, 05/15/2026		4,316,000		4,176,898
Truist Financial Corp.
1D US SOFR + 2.36%, 06/08/2034^(a)		6,897,000		7,120,496
US Bancorp
1D US SOFR + 1.60%, 02/01/2034^(a)		9,000,000		8,731,438
Wells Fargo & Co.
1D US SOFR + 2.02%, 04/24/2034^(a)		12,653,000		12,805,393
Total Banks				89,790,780

Biotechnology (1.62%)
Amgen, Inc.
5.25%, 03/02/2033		14,778,000		15,025,901
5.51%, 03/02/2026		8,959,000		8,959,128
5.75%, 03/02/2063		14,472,000		14,580,783
Royalty Pharma PLC
5.40%, 09/02/2034		5,589,000		5,586,696
5.90%, 09/02/2054		5,589,000		5,564,300
Total Biotechnology				49,716,808

Cable & Satellite (0.50%)
CCO Holdings LLC / CCO Holdings Capital Corp.
4.50%, 05/01/2032		4,000,000		3,352,268
4.50%, 06/01/2033^(e)		5,978,000		4,917,096
Sirius XM Radio, Inc.
5.00%, 08/01/2027^(e)		7,421,000		7,186,481
Total Cable & Satellite				15,455,845

Casinos & Gaming (0.40%)
Caesars Entertainment, Inc.
8.13%, 07/01/2027^(e)		4,535,000		4,635,152
MGM Resorts International
5.75%, 06/15/2025		7,495,000		7,490,563
Total Casinos & Gaming				12,125,715

Chemicals (0.31%)
Avient Corp.
5.75%, 05/15/2025^(e)		3,153,000		3,148,468
Celanese US Holdings LLC
6.38%, 07/15/2032		6,175,000		6,495,529
Total Chemicals				9,643,997

	Principal Amount		Value (Note 2)
Commercial Finance (0.45%)
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
6.50%, 07/15/2025	$	13,642,000	$	13,758,778

Consumer Finance (2.00%)
Ally Financial, Inc.
8.00%, 11/01/2031		4,000,000		4,504,901
American Express Co.
1D US SOFR + 1.42%, 07/26/2035^(a)		3,162,000		3,201,987
Boost Newco Borrower LLC
7.50%, 01/15/2031^(e)		5,915,000		6,233,807
Capital One Financial Corp.
1D US SOFR + 1.99%, 07/26/2035^(a)		14,908,000		15,129,640
Discover Financial Services
SOFRINDX + 3.37%, 11/02/2034^(a)(f)		20,606,000		23,746,828
Fiserv, Inc.
5.60%, 03/02/2033		3,982,000		4,123,370
Synchrony Financial
3.70%, 08/04/2026		3,192,000		3,085,828
4.25%, 08/15/2024		1,700,000		1,698,867
Total Consumer Finance				61,725,228

Diversified Banks (1.68%)
Bank of America Corp.
1D US SOFR + 1.91%, 04/25/2034^(a)		14,995,000		15,141,837
5Y US TI + 1.20%, 09/21/2036^(a)		15,971,000		13,109,926
JPMorgan Chase & Co.
1D US SOFR + 0.93%, 04/22/2028^(a)		4,054,000		4,130,580
1D US SOFR + 1.07%, 12/15/2025^(a)		8,581,000		8,585,237
1D US SOFR + 1.62%, 01/23/2035^(a)		10,386,000		10,554,257
Total Diversified Banks				51,521,837

Electrical Equipment Manufacturing (0.11%)
Trimble, Inc.
4.75%, 12/01/2024		3,254,000		3,244,247

Entertainment Content (0.24%)
Paramount Global
4.20%, 05/19/2032		8,486,000		7,240,640

	Principal Amount		Value (Note 2)
Entertainment Resources (0.12%)
Six Flags Entertainment Corp. / Six Flags Theme Parks, Inc.
6.63%, 05/01/2032^(e)	$	3,651,000	$	3,751,263
Vail Resorts, Inc.
6.50%, 05/15/2032^(e)		81,000		82,862
Total Entertainment Resources				3,834,125

Exploration & Production (2.23%)
Coterra Energy, Inc.
5.60%, 03/15/2034		15,765,000		16,056,440
Hilcorp Energy I LP / Hilcorp Finance Co.
6.00%, 04/15/2030^(e)		1,682,000		1,646,770
6.25%, 11/01/2028^(e)		5,537,000		5,547,101
6.25%, 04/15/2032^(e)		1,682,000		1,637,193
Occidental Petroleum Corp.
5.55%, 10/01/2034		3,815,000		3,838,272
6.05%, 10/01/2054		3,815,000		3,837,847
6.20%, 03/15/2040		7,155,000		7,361,157
7.88%, 09/15/2031		25,079,000		28,718,715
Total Exploration & Production				68,643,495

Financial Services (3.13%)
Charles Schwab Corp.
1D US SOFR + 2.01%, 08/24/2034^(a)		12,000,000		12,715,047
1D US SOFR + 2.50%, 05/19/2034^(a)		5,500,000		5,707,915
SOFRINDX + 1.05%, 03/03/2027^(a)(f)		9,431,000		9,496,870
Goldman Sachs Group, Inc.
1D US SOFR + 1.55%, 04/25/2035^(a)		3,245,000		3,392,216
Morgan Stanley
1D US SOFR + 2.05%, 11/01/2034^(a)		8,443,000		9,312,573
5Y US TI + 1.80%, 02/07/2039^(a)		7,463,000		7,594,314
UBS Group AG
1D US SOFR + 1.73%, 05/14/2032^(a)(e)		8,750,000		7,651,381
1D US SOFR + 3.92%, 08/12/2033^(a)(e)		25,938,000		27,877,188
1Y US TI + 1.80%, 09/22/2029^(a)(e)		4,893,000		5,112,380
1Y US TI + 2.00%, 09/22/2034^(a)(e)		6,350,000		6,760,922
Total Financial Services				95,620,806

Food & Beverage (1.16%)
CONAGRA BRANDS CAG 4.85 11/01/28
4.85%, 11/01/2028		5,220,000		5,218,973

	Principal Amount		Value (Note 2)
J M Smucker Co.
6.20%, 11/15/2033	$	6,976,000	$	7,531,133
JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co Sarl
6.75%, 03/15/2034^(e)		2,533,000		2,712,263
7.25%, 11/15/2053^(e)		2,589,000		2,859,597
JDE Peet's NV
0.80%, 09/24/2024^(e)		1,984,000		1,967,033
Pilgrim's Pride Corp.
6.25%, 07/01/2033		10,000,000		10,367,767
6.88%, 05/15/2034		4,548,000		4,920,955
Total Food & Beverage				35,577,721

Government Agencies (0.08%)
Tennessee Valley Authority
2.22%, 05/01/2029^(a)		109,037		2,383,549

Health Care Facilities & Services (0.90%)
Cardinal Health, Inc.
5.45%, 02/15/2034		7,379,000		7,559,158
HCA, Inc.
2.38%, 07/15/2031		11,927,000		10,035,505
5.38%, 02/01/2025		3,000,000		2,994,726
5.50%, 06/01/2033		6,970,000		7,057,685
Total Health Care Facilities & Services				27,647,074

Industrial Other (0.87%)
Honeywell International, Inc.
5.00%, 03/01/2035		14,633,000		14,818,445
Jacobs Engineering Group, Inc.
5.90%, 03/01/2033		9,458,000		9,670,686
Quanta Services, Inc.
0.95%, 10/01/2024		2,581,000		2,557,288
Total Industrial Other				27,046,419

Integrated Oils (0.38%)
TotalEnergies Capital SA
5.15%, 04/05/2034		3,294,000		3,369,880
5.49%, 04/05/2054		8,235,000		8,336,674
Total Integrated Oils				11,706,554

Leisure Products Manufacturing (0.46%)
Hasbro, Inc.
6.05%, 05/14/2034		7,400,000		7,567,399
Polaris, Inc.
6.95%, 03/15/2029		5,949,000		6,323,495
Total Leisure Products Manufacturing				13,890,894

Life Insurance (0.15%)
Prudential Financial, Inc.
3M US L + 3.03%, 05/15/2045^(a)		4,575,000		4,527,899

	Principal Amount		Value (Note 2)
Manufactured Goods (0.14%)
Chart Industries, Inc.
7.50%, 01/01/2030^(e)	$	4,228,000	$	4,403,680

Medical Equipment & Devices Manufacturing (1.32%)
Alcon Finance Corp.
5.38%, 12/06/2032^(e)		14,770,000		15,143,351
Revvity, Inc.
0.85%, 09/15/2024		2,977,000		2,957,728
Solventum Corp.
5.45%, 03/13/2031^(e)		7,429,000		7,497,085
5.60%, 03/23/2034^(e)		7,429,000		7,476,906
5.90%, 04/30/2054^(e)		7,423,000		7,297,964
Total Medical Equipment & Devices Manufacturing				40,373,034

Metals & Mining (0.79%)
ArcelorMittal SA
6.00%, 06/17/2034		3,182,000		3,261,907
6.35%, 06/17/2054		2,387,000		2,385,137
Steel Dynamics, Inc.
5.00%, 12/15/2026		10,905,000		10,900,910
5.38%, 08/15/2034		7,400,000		7,505,618
Total Metals & Mining				24,053,572

Pharmaceuticals (1.04%)
AbbVie, Inc.
5.05%, 03/15/2034		5,760,000		5,868,711
Bristol-Myers Squibb Co.
5.20%, 02/22/2034		6,525,000		6,685,460
5.55%, 02/22/2054		13,582,000		13,770,131
Pfizer Investment Enterprises Pte, Ltd.
4.75%, 05/19/2033		5,779,000		5,762,737
Total Pharmaceuticals				32,087,039

Pipeline (3.13%)
Buckeye Partners LP
4.50%, 03/01/2028^(e)		8,958,000		8,551,276
6.88%, 07/01/2029^(e)		9,749,000		9,910,229
Cheniere Energy Partners LP
3.25%, 01/31/2032		8,000,000		6,985,194
Energy Transfer LP
5.60%, 09/01/2034		793,000		805,114
6.05%, 09/01/2054		793,000		795,405
7.38%, 02/01/2031^(e)		7,123,000		7,527,401
EnLink Midstream LLC
5.63%, 01/15/2028^(e)		3,366,000		3,380,302
Flex Intermediate Holdco LLC
3.36%, 06/30/2031^(e)		12,936,000		11,048,754
4.32%, 12/30/2039^(e)		9,061,000		6,943,293
Gray Oak Pipeline LLC
2.60%, 10/15/2025^(e)		5,990,000		5,800,322

	Principal Amount		Value (Note 2)
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
6.50%, 07/15/2027	$	16,103,000	$	16,275,239
6.88%, 01/15/2029		8,740,000		8,979,013
TransCanada PipeLines, Ltd.
6.20%, 03/09/2026		8,962,000		8,968,909
Total Pipeline				95,970,451

Power Generation (0.85%)
Vistra Operations Co. LLC
5.13%, 05/13/2025^(e)		6,961,000		6,935,724
5.50%, 09/01/2026^(e)		9,846,000		9,764,213
6.95%, 10/15/2033^(e)		8,834,000		9,602,443
Total Power Generation				26,302,380

Publishing & Broadcasting (0.51%)
Gray Television, Inc.
7.00%, 05/15/2027^(e)		4,200,000		4,069,833
Nexstar Media, Inc.
4.75%, 11/01/2028^(e)		8,000,000		7,368,105
5.63%, 07/15/2027^(e)		4,376,000		4,248,000
Total Publishing & Broadcasting				15,685,938

Real Estate (0.81%)
CoStar Group, Inc.
2.80%, 07/15/2030^(e)		9,317,000		8,116,611
VICI Properties LP
5.13%, 05/15/2032		9,134,000		8,915,923
VICI Properties LP / VICI Note Co., Inc.
4.63%, 06/15/2025^(e)		8,185,000		8,112,519
Total Real Estate				25,145,053

Refining & Marketing (0.46%)
HF Sinclair Corp.
4.50%, 10/01/2030		8,654,000		8,272,828
5.00%, 02/01/2028^(e)		2,667,000		2,627,468
5.88%, 04/01/2026		3,177,000		3,201,533
Total Refining & Marketing				14,101,829

Retail - Consumer Discretionary (0.15%)
ERAC USA Finance LLC
5.20%, 10/30/2034^(e)		4,403,000		4,470,797

Semiconductors (0.24%)
Broadcom, Inc.
3.47%, 04/15/2034^(e)		8,588,000		7,504,307

Software & Services (0.75%)
Leidos, Inc.
5.75%, 03/15/2033		6,942,000		7,192,309
Moody's Corp.
5.00%, 08/05/2034		1,575,000		1,576,315

	Principal Amount		Value (Note 2)
VMware LLC
2.20%, 08/15/2031	$	4,979,000	$	4,160,328
4.70%, 05/15/2030		9,961,000		9,864,405
Total Software & Services				22,793,357

Supermarkets & Pharmacies (0.48%)
Albertsons Cos. Inc / Safeway, Inc. / New Albertsons LP / Albertsons LLC
6.50%, 02/15/2028^(e)		14,670,000		14,893,321

Transportation & Logistics (0.18%)
FedEx Corp. 2020-1 Class AA Pass Through Trust
1.88%, 02/20/2034		6,426,359		5,473,338

Travel & Lodging (0.23%)
Royal Caribbean Cruises, Ltd.
6.25%, 03/15/2032^(e)		7,169,000		7,315,398

Utilities (0.79%)
American Water Capital Corp.
5.15%, 03/01/2034		7,142,000		7,259,850
Dominion Energy, Inc.
3.07%, 08/15/2024^(d)		1,500,000		1,498,410
Entergy Corp.
5Y US TI + 2.67%, 12/01/2054^(a)		3,980,000		3,991,773
National Rural Utilities Cooperative Finance Corp.
3M US SOFR + 3.17%, 04/30/2043^(a)		3,386,000		3,390,937
5Y US TI + 3.53%, 09/15/2053^(a)		3,775,000		3,939,556
Sempra
5Y US TI + 2.87%, 04/01/2052^(a)		4,268,000		3,959,433
Total Utilities				24,039,959

Waste & Environment Services & Equipment (0.21%)
GFL Environmental, Inc.
5.13%, 12/15/2026^(e)		6,644,000		6,590,193

	Principal Amount		Value (Note 2)
Wireless Telecommunications Services (0.13%)
AT&T, Inc.
5.54%, 02/20/2026	$	3,982,000	$	3,982,146

TOTAL CORPORATE BONDS
(Cost $1,186,676,368)				1,196,530,279

	Principal Amount		Value (Note 2)
GOVERNMENT BONDS (30.15%)

U.S. Treasury Bonds (30.15%)
United States Treasury Bonds
4.25%, 02/15/2054		117,310,000		115,394,548
4.38%, 05/15/2034		51,326,000		52,645,238
4.50%, 02/15/2044		116,118,000		117,315,467
4.63%, 05/15/2044		114,802,000		117,914,211
4.63%, 05/15/2054		119,002,000		124,636,002
4.75%, 11/15/2053		91,790,000		98,000,167
United States Treasury Notes
4.00%, 07/31/2029		7,536,000		7,562,199
4.50%, 03/31/2026		7,117,000		7,127,842
4.50%, 05/15/2027		42,165,000		42,604,768
4.88%, 11/30/2025		115,849,000		116,317,374
4.88%, 05/31/2026		72,268,000		72,944,101
5.00%, 10/31/2025		52,903,000		53,146,850
Total U.S. Treasury Bonds				925,608,767

TOTAL GOVERNMENT BONDS
(Cost $901,466,462)				925,608,767

	Shares		Value (Note 2)
PREFERRED STOCK (1.58%)

Energy (0.18%)
Pipeline (0.18%)
Energy Transfer LP, Series B, 6.625%^(g)		2,506,000		2,466,307
Energy Transfer LP, Series F, 6.750%^(g)		2,985,000		2,973,113

Total Energy				5,439,420

Financials (0.96%)
Banks (0.30%)
Bank of Hawaii., 8.000%^(g)		149,327		3,869,063
Huntington Bancshares, Inc., Series J, 6.875%^(g)		217,416		5,350,608
				9,219,671

	Shares		Value (Note 2)
Consumer Finance (0.26%)
Ally Financial, Inc., Series C, 4.700%^(g)		2,982,000	$	2,482,324
American Express Co., 3.550%^(g)		4,021,000		3,764,558
Synchrony Financial, 5Y US TI + 4.044%^(a)(g)		67,351		1,718,124
				7,965,006

Financial Services (0.31%)
Charles Schwab Corp., Series G, 5Y US TI + 4.971%^(a)(g)		3,523,000		3,490,579
Goldman Sachs Group, Inc. 5Y US TI + 2.810%, Series X^(a)(g)		5,673,000		5,861,122
				9,351,701

Life Insurance (0.09%)
Jackson Financial, Inc., 8.000%^(g)		112,060		2,890,027

Total Financials				29,426,405

Government (0.29%)
Government Agencies (0.29%)
Farm Credit Bank of Texas, Series 4, 5Y US TI + 5.415%^(a)(e)(g)		4,750,000		4,720,245
Farm Credit Bank of Texas, 5Y US TI + 3.291%^(a)(g)		3,980,000		4,062,656

Total Government				8,782,901

Utilities (0.15%)
Utilities (0.15%)
Duke Energy Corp., 5Y US TI + 3.388%^(a)(g)		4,740,000		4,719,815

Total Utilities				4,719,815

TOTAL PREFERRED STOCK
(Cost $47,717,890)				48,368,541

	7-Day Yield		Shares	Value (Note 2)
SHORT TERM INVESTMENTS (1.18%)

Money Market Fund (1.18%)
Morgan Stanley Institutional Liquidity Funds - Government Portfolio	5.21	%	36,336,614	36,336,614

7-Day

Yield

Shares

Value

(Note 2)

TOTAL SHORT TERM INVESTMENTS

(Cost $36,336,614)

36,336,614

		Value (Note 2)
TOTAL INVESTMENTS (99.85%)
(Cost $3,041,065,702)	$	3,065,716,597

Other Assets In Excess Of Liabilities (0.15%)		4,466,416

NET ASSETS (100.00%)	$	3,070,183,013

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

SOFRINDX - Secured Overnight Financing Rate Index

TI – Treasury Index

Reference Rates:

3M US L - 3 Month LIBOR as of July 31, 2024 was 5.50%

30D US SOFR - 30 Day SOFR as of July 31, 2024 was 5.34%

1D US SOFR - 1 Day SOFR as of July 31, 2024 was 5.38%

1M US SOFR - 1 Month SOFR as of July 31, 2024 was 5.34%

3M US SOFR - 3 Month SOFR as of July 31, 2024 was 5.24%

1Y US SOFR – 1 Year SOFR as of July 31, 2024 was 4.74%

1Y US TI - 1 Year US TI as of July 31, 2024 was 4.73%

5Y US TI - 5 Year US TI as of July 31, 2024 was 3.97%

^(a)	Floating or variable rate security. The reference rate is described above. The rate in effect as of July 31, 2024 is based on the reference rate plus the displayed spread as of the security's last reset date.
^(b)	Issued with zero coupon.
^(c)	Interest only security.
^(d)	Step bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect as of July 31, 2024.
^(e)	Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2024, the aggregate market value of those securities was $379,540,697, representing 12.36% of net assets.
^(f)	The SOFRINDX is a compounded average of the daily Secured Overnight Financing Rate determined by reference to the SOFR Index for any interest period.
^(g)	Perpetual maturity. This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

See Notes to Quarterly Statement of Investments.

ALPS | Smith Credit Opportunities Fund

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Principal Amount		Value (Note 2)
BANK LOANS (9.03%)

Aerospace & Defense (0.97%)
TransDigm, Inc.
3M US SOFR + 3.25%, 02/28/2031^(a)	$	2,204,598	$	2,212,732

Automobiles Manufacturing (0.53%)
Adient US LLC, TL
1M US SOFR + 2.75%, 01/26/2031^(a)		1,197,000		1,204,810

Casinos & Gaming (1.82%)
Caesars Entertainment, Inc.
1M US SOFR + 2.75%, 02/06/2031^(a)		1,745,625		1,751,700
Light & Wonder International, Inc.
1M US SOFR + 2.75%, 04/14/2029^(a)		2,393,981		2,413,432
Total Casinos & Gaming				4,165,132

Consumer Finance (0.53%)
Boost Newco Borrower LLC
1D US SOFR + 3.00%, 01/31/2031^(a)		1,200,000		1,204,410

Entertainment Resources (1.01%)
Authentic Brands TL
1M US SOFR + 3.50%, 12/07/2030^(a)		2,285,806		2,297,521

Financial Services (0.08%)
Jane Street Group LLC
1M US SOFR + 2.50%, 01/26/2028^(a)		177,000		177,593

Food & Beverage (1.05%)
Chobani LLC
1M US SOFR + 3.75%, 10/25/2027^(a)		2,388,000		2,401,433

Health Care Facilities & Services (0.13%)
Fortrea Holdings, Inc.
1M US SOFR + 3.75%, 07/01/2030^(a)		292,281		293,596

	Principal Amount		Value (Note 2)
Industrials (0.82%)
Chart Industries, Inc.
1M US SOFR + 3.25%, 03/18/2030^(a)	$	1,100,000	$	1,106,193
GFL Environmental 6/24
3M US SOFR + 2.00%, 06/27/2031^(a)		757,000		760,369
Total Industrials				1,866,562

Medical Equipment & Devices Manufacturing (0.48%)
Medline Borrower LP
1M US SOFR + 2.50%, 10/23/2028^(a)		1,097,250		1,101,913

Pipeline (0.53%)
Buckeye Partners LP
1M US SOFR + 2.50%, 11/22/2030^(a)		1,200,000		1,202,388

Publishing & Broadcasting (0.26%)
Nexstar Media, Inc.
1M US SOFR + 2.50%, 09/18/2026^(a)		590,437		593,150

Travel & Lodging (0.82%)
Carnival Corp.
1M US SOFR + 2.75%, 08/09/2027^(a)		1,848,552		1,863,858

TOTAL BANK LOANS
(Cost $20,546,303)				20,585,098

	Principal Amount		Value (Note 2)
COLLATERALIZED MORTGAGE OBLIGATIONS (3.50%)

Fannie Mae
Series 2002-71, Class AP,
5.000%, 11/25/2032	$	9,313	$	9,155
Series 2002-90, Class A1,
6.500%, 06/25/2042		47,994		49,097
Series 2008-8, Class FB,
30D US SOFR + 0.93%, 02/25/2038^(a)		90,277		90,671
Series 2010-114, Class TC,
2.250%, 03/25/2037		316,021		286,942
Series 2011-110, Class BX,
4.000%, 10/25/2041		284,099		274,616
Series 2012-110, Class CA,
3.000%, 10/25/2042		98,013		89,204
Series 2012-39, Class NB,
4.000%, 04/25/2042		175,000		149,370

	Principal Amount		Value (Note 2)
Series 2013-29, Class JE,
1.250%, 04/25/2043	$	164,813	$	139,133
Series 2015-27, Class ME,
3.500%, 10/25/2044		128,000		118,539
Series 2019-14, Class CA,
3.500%, 04/25/2049		126,339		120,566
Series 2019-7, Class JA,
3.500%, 03/25/2049		104,333		100,046
Series 2019-74, Class LB,
3.000%, 10/25/2049		124,911		114,551
Series 2021-94, Class KU,
2.000%, 12/25/2051		148,253		120,476
				1,662,366
Freddie Mac
Series 2002-2455, Class GK,
6.500%, 05/15/2032		11,391		11,878
Series 2002-2505, Class D,
5.500%, 09/15/2032		23,512		24,069
Series 2005-2990, Class GO,
–%, 02/15/2035^(b)		27,012		23,226
Series 2011-3965, Class ZA,
4.000%, 11/15/2041		276,157		265,620
Series 2012-4096, Class BY,
2.000%, 08/15/2042		85,000		66,113
Series 2012-4116, Class UC,
2.500%, 10/15/2042		103,000		74,999
Series 2012-4140, Class BW,
2.500%, 12/15/2042		100,000		77,835
Series 2015-4537, Class AZ,
3.000%, 12/15/2045		21,502		19,017
Series 2016-4579, Class W,
6.513%, 01/15/2038^(a)		62,239		64,990
Series 2016-4614, Class PB,
3.000%, 01/15/2046		219,329		201,491
Series 2018-4839, Class PZ,
4.000%, 11/15/2048		125,812		109,411
Series 2021-5142, Class PN,
1.000%, 09/25/2051		68,652		51,302
Series 2021-5151, Class LV,
1.500%, 09/25/2051		262,895		145,587
				1,135,538
Ginnie Mae
Series 2009-93, Class HG,
4.000%, 09/16/2039		9,981		9,774
Series 2011-139, Class KZ,
2.500%, 10/20/2041		48,123		41,756
Series 2011-141, Class GH,
3.000%, 10/16/2041		150,000		116,250

	Principal Amount		Value (Note 2)
Series 2011-H05, Class FB,
1M US SOFR + 0.61%, 12/20/2060^(a)	$	15,369	$	15,345
Series 2011-H14, Class FC,
1M US SOFR + 0.61%, 05/20/2061^(a)		23,620		23,590
Series 2012-137, Class EB,
2.000%, 11/20/2042		100,000		63,036
Series 2012-16, Class ND,
2.000%, 05/20/2039		158,529		147,161
Series 2012-41, Class TJ,
4.000%, 03/20/2042		187,933		171,187
Series 2012-H20, Class BA,
1M US SOFR + 0.67%, 09/20/2062^(a)		10,645		10,500
Series 2012-H29, Class SA,
1M US SOFR + 0.62%, 10/20/2062^(a)		24,772		24,727
Series 2013-28, Class DB,
3.000%, 02/20/2043		170,000		144,896
Series 2013-44, Class CE,
2.500%, 03/16/2043		105,656		88,271
Series 2013-9, Class KY,
3.000%, 01/20/2043		324,000		284,861
Series 2013-H07, Class GA,
1M US SOFR + 0.58%, 03/20/2063^(a)		11,912		11,883
Series 2013-H10, Class FA,
1M US SOFR + 0.51%, 03/20/2063^(a)		7,551		7,530
Series 2013-H22, Class FT,
1Y US TI + 0.65%, 04/20/2063^(a)		2,821		2,815
Series 2013-H23, Class FA,
1M US SOFR + 1.41%, 09/20/2063^(a)		4,006		4,043
Series 2014-21, Class PB,
4.000%, 02/16/2044		150,000		134,792
Series 2014-H03, Class FA,
1M US SOFR + 0.71%, 01/20/2064^(a)		5,586		5,585
Series 2015-3, Class ZD,
4.000%, 01/20/2045		182,670		172,023
Series 2015-31, Class B,
3.000%, 02/20/2045		100,000		89,058
Series 2015-43, Class DM,
2.500%, 03/20/2045		74,724		66,207
Series 2015-H10, Class JA,
2.250%, 04/20/2065		88,101		84,993
Series 2015-H29, Class FL,
1M US SOFR + 0.71%, 11/20/2065^(a)		41,437		41,345

	Principal Amount		Value (Note 2)
Series 2016-167, Class AD,
2.500%, 03/20/2039	$	242,727	$	225,742
Series 2016-H09, Class FA,
1M US SOFR + 0.76%, 03/20/2066^(a)		34,846		34,865
Series 2017-31, Class BY,
3.500%, 02/20/2047		131,000		94,882
Series 2017-H10, Class GZ,
4.496%, 04/20/2067^(a)		245,720		232,996
Series 2017-H11, Class HZ,
4.511%, 04/20/2067^(a)		138,533		130,478
Series 2017-H11, Class GZ,
4.588%, 04/20/2067^(a)		139,225		131,722
Series 2017-H18, Class PZ,
2.000%, 04/20/2066		129,534		107,287
Series 2018-H01, Class JZ,
4.615%, 01/20/2068^(a)		134,638		133,243
Series 2018-H01, Class HZ,
4.615%, 01/20/2068^(a)		134,899		132,559
Series 2018-H03, Class HZ,
4.532%, 01/20/2068^(a)		133,766		122,151
Series 2018-H07, Class FE,
1M US SOFR + 0.46%, 02/20/2068^(a)		15,613		15,563
Series 2018-H07, Class JZ,
4.556%, 04/20/2068^(a)		103,515		101,990
Series 2018-H07, Class HZ,
4.604%, 04/20/2068^(a)		132,707		128,446
Series 2019-103, Class HY,
3.000%, 08/20/2049		104,493		72,730
Series 2019-31, Class JC,
3.500%, 03/20/2049		88,933		82,790
Series 2020-134, Class XB,
1.000%, 07/20/2048		125,000		70,711
Series 2020-153, Class GP,
0.500%, 10/20/2050		196,291		174,069
Series 2020-160, Class QD,
1.000%, 10/20/2050		162,034		79,979
Series 2020-H09, Class NF,
1M US SOFR + 1.36%, 04/20/2070^(a)		44,665		45,199
Series 2020-H11, Class JZ,
4.161%, 05/20/2069^(a)		170,424		141,603
Series 2020-H12, Class JZ,
4.174%, 08/20/2069^(a)		118,201		100,876
Series 2020-H17, Class KZ,
3.613%, 09/20/2070^(a)		450,587		349,027
Series 2020-H18, Class EY,
3.702%, 09/20/2070^(a)		107,958		81,902
Series 2021-146, Class EH,
2.000%, 08/20/2051		113,536		65,867

	Principal Amount		Value (Note 2)
Series 2021-159, Class AL,
1.000%, 09/20/2051	$	118,000	$	54,991
Series 2021-215, Class TZ,
5.000%, 12/20/2051		139,200		121,179
Series 2021-225, Class EU,
2.000%, 12/20/2051		132,227		80,347
Series 2021-86, Class ML,
1.000%, 05/20/2051		136,000		57,071
Series 2021-H02, Class KB,
3.031%, 01/20/2071^(a)		106,995		77,279
Series 2021-H02, Class PB,
4.647%, 05/20/2070^(a)		101,928		98,217
Series 2021-H03, Class NY,
3.206%, 01/20/2071^(a)		108,473		78,577
				5,185,966

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $7,542,970)				7,983,870

	Principal Amount		Value (Note 2)
COMMERCIAL MORTGAGE-BACKED SECURITIES (1.34%)

Fannie Mae-Aces
Series 2019-M17, Class X,
0.319%, 08/25/2034^(a)(c)		23,010,311		346,733

Freddie Mac Multifamily Structured Pass Through Certificates
Series 2016-K056, Class X3,
2.117%, 06/25/2044^(a)(c)		591,680		21,735
Series 2016-K059, Class X1,
0.295%, 09/25/2026^(a)(c)		6,033,387		28,920
Series 2017-KW03, Class X1,
0.776%, 06/25/2027^(a)(c)		27,870,548		489,619
Series 2019-K087, Class X1,
0.362%, 12/25/2028^(a)(c)		29,308,085		407,028
Series 2019-K092, Class X1,
0.711%, 04/25/2029^(a)(c)		16,448,549		466,372
Series 2019-K093, Class X1,
0.942%, 05/25/2029^(a)(c)		6,028,472		220,810
Series 2019-K094, Class X1,
0.877%, 06/25/2029^(a)(c)		14,338,690		514,364
Series 2020-K121, Class X1,
1.020%, 10/25/2030^(a)(c)		2,452,325		120,865
Series 2020-K738, Class X1,
1.506%, 01/25/2027^(a)(c)		12,413,695		351,077

	Principal Amount		Value (Note 2)
Series 2021-Q016, Class APT2,
1.480%, 05/25/2051^(a)	$	106,042	$	96,231
				2,717,021

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES
(Cost $2,962,639)				3,063,754

	Principal Amount		Value (Note 2)
MORTGAGE-BACKED SECURITIES (1.66%)

Fannie Mae Pool
Series 1998-,
6.500%, 08/01/2028		18,232		18,759
7.500%, 08/01/2028		18,970		18,912
8.500%, 06/01/2027		1,793		1,786
Series 1999-,
8.000%, 04/01/2029		16,808		16,753
Series 2001-,
12.000%, 11/01/2030		50,302		51,622
Series 2002-,
6.000%, 12/01/2032		33,879		34,298
Series 2003-,
4.500%, 09/01/2028		26,121		25,897
4.750%, 09/01/2033		37,331		36,823
5.500%, 10/01/2033		18,605		18,445
5.500%, 12/01/2033		31,936		32,681
Series 2005-,
4.500%, 05/01/2035		17,919		17,723
6.500%, 01/01/2036		26,145		26,920
Series 2006-,
4.500%, 01/01/2036		27,390		26,928
6.000%, 03/01/2036		30,933		31,640
Series 2007-,
5.500%, 07/01/2037		10,760		10,782
6.000%, 07/01/2037		29,670		30,035
6.000%, 09/01/2037		26,264		26,863
6.500%, 11/01/2037		42,491		43,980
Series 2008-,
5.000%, 06/01/2037		16,566		16,191
5.500%, 04/01/2038		10,608		10,590
5.500%, 08/01/2038		20,703		20,598
6.500%, 07/01/2038		43,522		45,047
Series 2009-,
5.000%, 04/01/2039		38,264		37,953
Series 2010-,
4.000%, 05/01/2040		3,553		3,491
5.500%, 02/01/2038		40,709		40,678
Series 2011-,
4.500%, 05/01/2041		47,383		46,859
Series 2013-,
3.000%, 04/01/2043		87,700		80,378

	Principal Amount		Value (Note 2)
Series 2015-,
3.500%, 06/01/2045	$	50,142	$	48,240
5.000%, 07/01/2044		113,381		114,926
Series 2018-,
3.796%, 02/01/2048^(a)		28,238		25,518
Series 2022-,
5.730%, 11/01/2032		1,500,000		1,596,733
				2,558,049
Freddie Mac Gold Pool
Series 2004-,
5.500%, 01/01/2034		26,192		26,061
Series 2005-,
5.500%, 05/01/2035		15,622		15,461
Series 2006-,
4.500%, 01/01/2036		10,642		10,361
5.500%, 12/01/2034		22,693		22,778
6.000%, 05/01/2036		49,969		51,060
Series 2008-,
4.500%, 05/01/2038		54,578		53,722
6.000%, 08/01/2038		27,251		28,209
Series 2013-,
3.000%, 01/01/2033		43,015		40,994
Series 2014-,
3.500%, 10/01/2044		36,407		33,570
Series 2015-,
4.000%, 03/01/2044		27,691		26,651
				308,867
Freddie Mac Pool
Series 2018-,
3.500%, 08/01/2042		42,807		40,062
4.500%, 01/01/2036		64,863		63,718
				103,780
Ginnie Mae I Pool
Series 2003-,
5.500%, 10/15/2033		43,564		44,490
Series 2010-,
5.000%, 05/15/2040		38,957		39,333
				83,823
Ginnie Mae II Pool
Series 2009-,
4.000%, 11/20/2039		39,453		38,066
6.000%, 11/20/2039		56,210		58,692
Series 2011-,
4.000%, 02/20/2041		30,936		29,402
4.000%, 05/20/2041		29,323		27,869
4.000%, 10/20/2041		13,338		12,677
Series 2012-,
3.500%, 01/20/2042		89,998		83,157
3.500%, 05/20/2042		90,192		83,323
Series 2013-,
3.500%, 03/20/2043		68,632		63,116

	Principal Amount		Value (Note 2)
5.500%, 11/20/2035	$	71,717	$	73,707
Series 2014-,
3.750%, 04/20/2044		66,827		62,566
4.000%, 05/20/2044		65,804		62,814
Series 2016-,
3.500%, 09/20/2046		16,250		14,773
Series 2021-,
4.000%, 05/20/2051		138,103		128,450
				738,612

TOTAL MORTGAGE-BACKED SECURITIES
(Cost $3,850,587)				3,793,131

	Principal Amount		Value (Note 2)
CORPORATE BONDS (76.69%)

Advertising & Marketing (1.21%)
Neptune Bidco US, Inc.
9.29%, 04/15/2029^(d)		1,500,000		1,470,321
Outfront Media Capital LLC / Outfront Media Capital Corp.
5.00%, 08/15/2027^(d)		1,200,000		1,173,635
7.38%, 02/15/2031^(d)		100,000		104,827
Total Advertising & Marketing				2,748,783

Aerospace & Defense (2.31%)
Boeing Co.
6.53%, 05/01/2034^(d)		1,924,000		2,020,467
Bombardier, Inc.
7.00%, 06/01/2032^(d)		1,000,000		1,023,716
L3Harris Technologies, Inc.
5.50%, 08/15/2054		560,000		557,024
RTX Corp.
6.40%, 03/15/2054		500,000		562,271
Spirit AeroSystems, Inc.
9.75%, 11/15/2030^(d)		1,000,000		1,115,745
Total Aerospace & Defense				5,279,223

Airlines (2.28%)
Alaska Airlines 2020-1 Class A Pass Through Trust
4.80%, 08/15/2027^(d)		592,849		585,955
Alaska Airlines 2020-1 Class B Pass Through Trust
8.00%, 08/15/2025^(d)		1,000,606		1,017,442
British Airways 2020-1 Class A Pass Through Trust
4.25%, 11/15/2032^(d)		1,190,334		1,140,739
United Airlines 2020-1 Class A Pass Through Trust
Series 20-1
5.88%, 10/15/2027		1,886,047		1,909,768
VistaJet Malta Finance PLC / Vista Management Holding, Inc.
9.50%, 06/01/2028^(d)		600,000		537,550
Total Airlines				5,191,454

	Principal Amount		Value (Note 2)
Auto Parts Manufacturing (0.22%)
Adient Global Holdings, Ltd.
7.00%, 04/15/2028^(d)	$	500,000	$	511,525

Automobiles Manufacturing (3.94%)
Ford Motor Credit Co. LLC
3.38%, 11/13/2025		1,000,000		975,258
5.85%, 05/17/2027		2,000,000		2,021,539
7.12%, 11/07/2033		1,000,000		1,068,364
7.35%, 03/06/2030		513,000		551,136
General Motors Financial Co., Inc.
6.10%, 01/07/2034		1,000,000		1,030,629
1D US SOFR + 0.62%, 10/15/2024^(a)		350,000		350,238
SOFRINDX + 1.30%, 04/07/2025^(a)(e)		1,300,000		1,307,646
Nissan Motor Acceptance Co. LLC
7.05%, 09/15/2028^(d)		1,600,000		1,683,374
Total Automobiles Manufacturing				8,988,184

Banks (6.88%)
AIB Group PLC
1D US SOFR + 1.91%, 03/28/2035^(a)(d)		1,700,000		1,743,174
Citizens Bank NA
1D US SOFR + 1.45%, 10/24/2025^(a)		2,477,000		2,471,434
Citizens Financial Group, Inc.
1D US SOFR + 1.91%, 07/23/2032^(a)		570,000		577,243
1D US SOFR + 2.33%, 04/25/2035^(a)		540,000		575,661
Comerica, Inc.
1D US SOFR + 2.155%, 01/30/2030^(a)		500,000		501,383
Danske Bank A/S
1Y US TI + 1.35%, 09/11/2026^(a)(d)		3,400,000		3,261,997
Discover Bank
5Y US S + 1.73%, 08/09/2028^(a)		1,253,000		1,257,309
Fifth Third Bancorp
1D US SOFR + 1.66%, 04/25/2033^(a)		550,000		512,601
Huntington National Bank
5.65%, 01/10/2030		560,000		573,341
Intesa Sanpaolo SpA
1Y US TI + 2.75%, 06/01/2042^(a)(d)		527,000		408,924
1Y US TI + 3.90%, 06/20/2054^(a)(d)		575,000		618,273

	Principal Amount		Value (Note 2)
M&T Bank Corp.
1D US SOFR + 2.80%, 10/30/2029^(a)	$	500,000	$	537,576
Synovus Bank/Columbus GA
5Y US TI + 3.63%, 10/29/2030^(a)		2,424,000		2,167,513
Truist Financial Corp.
1D US SOFR + 2.361%, 06/08/2034^(a)		500,000		516,202
Total Banks				15,722,631

Biotechnology (0.48%)
Amgen, Inc.
5.25%, 03/02/2033		550,000		559,227
5.75%, 03/02/2063		535,000		539,021
Total Biotechnology				1,098,248

Cable & Satellite (2.07%)
CCO Holdings LLC / CCO Holdings Capital Corp.
6.38%, 09/01/2029^(d)		1,600,000		1,558,863
Cox Communications, Inc.
5.70%, 06/15/2033^(d)		1,000,000		1,017,950
Directv Financing LLC
8.88%, 02/01/2030^(d)		500,000		501,095
Sirius XM Radio, Inc.
5.00%, 08/01/2027^(d)		1,700,000		1,646,277
Total Cable & Satellite				4,724,185

Casinos & Gaming (2.23%)
Caesars Entertainment, Inc.
7.00%, 02/15/2030^(d)		1,500,000		1,548,308
Penn Entertainment, Inc.
5.63%, 01/15/2027^(d)		2,484,000		2,425,840
Station Casinos LLC
6.63%, 03/15/2032^(d)		1,100,000		1,110,958
Total Casinos & Gaming				5,085,106

Chemicals (0.51%)
Avient Corp.
5.75%, 05/15/2025^(d)		1,162,000		1,160,330

Consumer Finance (2.14%)
Ally Financial, Inc.
8.00%, 11/01/2031		1,250,000		1,407,781
Boost Newco Borrower LLC
7.50%, 01/15/2031^(d)		1,066,000		1,123,455
Capital One Financial Corp.
1D US SOFR + 1.99%, 07/26/2035^(a)		1,126,000		1,142,740
Discover Financial Services
SOFRINDX + 3.37%, 11/02/2034^(a)(e)		565,000		651,119
Synchrony Financial
7.25%, 02/02/2033		555,000		567,935
Total Consumer Finance				4,893,030

	Principal Amount		Value (Note 2)
Consumer Services (0.99%)
Brink’s Co.
6.50%, 06/15/2029^(d)	$	1,100,000	$	1,121,983
WASH Multifamily Acquisition, Inc.
5.75%, 04/15/2026^(d)		1,150,000		1,132,877
Total Consumer Services				2,254,860

Containers & Packaging (0.87%)
Owens-Brockway Glass Container, Inc.
6.63%, 05/13/2027^(d)		1,000,000		1,001,840
7.25%, 05/15/2031^(d)		1,000,000		990,694
Total Containers & Packaging				1,992,534

Department Stores (1.10%)
Macy’s Retail Holdings LLC
6.13%, 03/15/2032^(d)		1,200,000		1,146,286
NMG Holding Co. Inc / Neiman Marcus Group LLC
7.13%, 04/01/2026^(d)		1,350,000		1,356,970
Total Department Stores				2,503,256

Diversified Banks (0.37%)
Bank of America Corp.
1D US SOFR + 1.91%, 04/25/2034^(a)		445,000		449,358
JPMorgan Chase & Co.
1D US SOFR + 1.62%, 01/23/2035^(a)		389,000		395,302
Total Diversified Banks				844,660

Electrical Equipment Manufacturing (0.74%)
Sensata Technologies, Inc.
6.63%, 07/15/2032^(d)		500,000		506,876
Vontier Corp.
2.40%, 04/01/2028		1,300,000		1,179,353
Total Electrical Equipment Manufacturing				1,686,229

Entertainment Content (0.48%)
Paramount Global
4.20%, 05/19/2032		1,293,000		1,103,246

Entertainment Resources (1.18%)
Six Flags Entertainment Corp.
7.25%, 05/15/2031^(d)		2,600,000		2,682,079

Exploration & Production (5.50%)
Baytex Energy Corp.
7.38%, 03/15/2032^(d)		100,000		102,184
8.50%, 04/30/2030^(d)		1,000,000		1,056,149
Civitas Resources, Inc.
8.75%, 07/01/2031^(d)		1,600,000		1,722,605
Coterra Energy, Inc.
5.60%, 03/15/2034		1,197,000		1,219,128

	Principal Amount		Value (Note 2)
Hilcorp Energy I LP / Hilcorp Finance Co.
6.25%, 11/01/2028^(d)	$	1,506,000	$	1,508,747
Occidental Petroleum Corp.
5.55%, 10/01/2034		171,000		172,043
6.05%, 10/01/2054		171,000		172,024
6.20%, 03/15/2040		550,000		565,847
7.88%, 09/15/2031		1,800,000		2,061,235
Permian Resources Operating LLC
6.25%, 02/01/2033^(d)		500,000		504,387
Range Resources Corp.
8.25%, 01/15/2029		1,400,000		1,455,301
SM Energy Co.
6.75%, 08/01/2029^(d)		1,000,000		1,007,254
7.00%, 08/01/2032^(d)		1,000,000		1,011,465
Total Exploration & Production				12,558,369

Financial Services (4.53%)
Charles Schwab Corp.
1D US SOFR + 2.50%, 05/19/2034^(a)		1,580,000		1,639,728
SOFRINDX + 1.05%, 03/03/2027^(a)(e)		1,727,000		1,739,063
Jane Street Group / JSG Finance, Inc.
7.13%, 04/30/2031^(d)		1,000,000		1,037,905
Morgan Stanley
1D US SOFR + 2.05%, 11/01/2034^(a)		406,000		447,815
5Y US TI + 1.80%, 02/07/2039^(a)		558,000		567,818
UBS Group AG
1D US SOFR + 3.92%, 08/12/2033^(a)(d)		3,225,000		3,466,110
1Y US TI + 2.00%, 09/22/2034^(a)(d)		1,320,000		1,405,420
Total Financial Services				10,303,859

Food & Beverage (1.54%)
B&G Foods, Inc.
8.00%, 09/15/2028^(d)		1,000,000		1,020,903
CONAGRA BRANDS CAG 4.85 11/01/28
4.85%, 11/01/2028		399,000		398,921
JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co Sarl
6.75%, 03/15/2034^(d)		244,000		261,268
7.25%, 11/15/2053^(d)		243,000		268,398
Pilgrim’s Pride Corp.
6.25%, 07/01/2033		1,050,000		1,088,616
6.88%, 05/15/2034		436,000		471,754
Total Food & Beverage				3,509,860

Health Care Facilities & Services (1.18%)
Concentra Escrow Issuer Corp.
6.88%, 07/15/2032^(d)		500,000		515,783

	Principal Amount		Value (Note 2)
Fortrea Holdings, Inc.
7.50%, 07/01/2030^(d)	$	1,100,000	$	1,117,140
Star Parent, Inc.
9.00%, 10/01/2030^(d)		1,000,000		1,068,404
Total Health Care Facilities & Services				2,701,327

Home Improvement (0.45%)
Masterbrand, Inc.
7.00%, 07/15/2032^(d)		1,000,000		1,028,106

Homebuilders (1.28%)
Beazer Homes USA, Inc.
7.50%, 03/15/2031^(d)		1,100,000		1,117,600
Forestar Group, Inc.
3.85%, 05/15/2026^(d)		1,850,000		1,790,441
Total Homebuilders				2,908,041

Industrial Other (0.78%)
Brand Industrial Services, Inc.
10.38%, 08/01/2030^(d)		500,000		549,688
Element Fleet Management Corp.
6.27%, 06/26/2026^(d)		1,200,000		1,222,561
Total Industrial Other				1,772,249

Leisure Products Manufacturing (0.91%)
Amer Sports Co.
6.75%, 02/16/2031^(d)		1,100,000		1,094,862
Hasbro, Inc.
6.05%, 05/14/2034		409,000		418,252
Polaris, Inc.
6.95%, 03/15/2029		539,000		572,931
Total Leisure Products Manufacturing				2,086,045

Medical Equipment & Devices Manufacturing (0.38%)
Solventum Corp.
5.90%, 04/30/2054^(d)		321,000		315,593
6.00%, 05/15/2064^(d)		570,000		556,478
Total Medical Equipment & Devices Manufacturing				872,071

Oil & Gas Services & Equipment (2.00%)
Diamond Foreign Asset Co. / Diamond Finance LLC
8.50%, 10/01/2030^(d)		1,000,000		1,065,170
Seadrill Finance, Ltd.
8.38%, 08/01/2030^(d)		1,000,000		1,054,741
Transocean Titan Financing, Ltd.
8.38%, 02/01/2028^(d)		1,350,000		1,405,036
Transocean, Inc.
8.50%, 05/15/2031^(d)		1,000,000		1,024,332
Total Oil & Gas Services & Equipment				4,549,279

Pharmaceuticals (1.77%)
Bristol-Myers Squibb Co.
5.20%, 02/22/2034		550,000		563,525

	Principal Amount		Value (Note 2)
Organon & Co. / Organon Foreign Debt Co-Issuer BV
5.13%, 04/30/2031^(d)	$	2,500,000	$	2,302,479
7.88%, 05/15/2034^(d)		1,100,000		1,143,726
Total Pharmaceuticals				4,009,730

Pipeline (6.23%)
Blue Racer Midstream LLC / Blue Racer Finance Corp.
7.00%, 07/15/2029^(d)		1,100,000		1,130,711
Buckeye Partners LP
4.35%, 10/15/2024		110,000		109,708
4.50%, 03/01/2028^(d)		1,698,000		1,620,905
6.88%, 07/01/2029^(d)		746,000		758,337
EnLink Midstream LLC
5.63%, 01/15/2028^(d)		252,000		253,071
Flex Intermediate Holdco LLC
3.36%, 06/30/2031^(d)		2,321,000		1,982,386
4.32%, 12/30/2039^(d)		1,733,000		1,327,969
Genesis Energy LP / Genesis Energy Finance Corp.
7.88%, 05/15/2032		550,000		561,972
8.00%, 01/15/2027		1,075,000		1,100,072
8.25%, 01/15/2029		1,750,000		1,821,776
Global Partners LP / GLP Finance Corp.
8.25%, 01/15/2032^(d)		1,000,000		1,027,879
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
6.88%, 01/15/2029		1,800,000		1,849,224
Venture Global LNG, Inc.
7.00%, 01/15/2030^(d)		100,000		101,107
9.88%, 02/01/2032^(d)		500,000		555,356
Total Pipeline				14,200,473

Power Generation (1.28%)
Vistra Operations Co. LLC
5.50%, 09/01/2026^(d)		1,325,000		1,313,994
7.75%, 10/15/2031^(d)		1,500,000		1,586,070
Total Power Generation				2,900,064

Publishing & Broadcasting (3.11%)
Gray Television, Inc.
5.38%, 11/15/2031^(d)		1,050,000		685,563
7.00%, 05/15/2027^(d)		850,000		823,657
10.50%, 07/15/2029^(d)		1,550,000		1,618,823
Nexstar Media, Inc.
5.63%, 07/15/2027^(d)		2,000,000		1,941,499
Scripps Escrow, Inc.
5.88%, 07/15/2027^(d)		2,900,000		2,019,299
Total Publishing & Broadcasting				7,088,841

Real Estate (4.08%)
CoStar Group, Inc.
2.80%, 07/15/2030^(d)		2,446,000		2,130,861

	Principal Amount		Value (Note 2)
Cushman & Wakefield US Borrower LLC
6.75%, 05/15/2028^(d)	$	1,374,000	$	1,377,846
8.88%, 09/01/2031^(d)		250,000		269,103
Kennedy-Wilson, Inc.
4.75%, 02/01/2030		3,334,000		2,852,524
Public Storage Operating Co.
SOFRINDX + 0.70%, 04/16/2027^(a)(e)		2,000,000		2,006,917
VICI Properties LP / VICI Note Co., Inc.
4.63%, 06/15/2025^(d)		656,000		650,191
Total Real Estate				9,287,442

Refining & Marketing (0.68%)
Sunoco LP
7.00%, 05/01/2029^(d)		1,000,000		1,029,952
7.25%, 05/01/2032^(d)		500,000		520,089
Total Refining & Marketing				1,550,041

Restaurants (0.96%)
Brinker International, Inc.
8.25%, 07/15/2030^(d)		1,050,000		1,107,350
Raising Cane’s Restaurants LLC
9.38%, 05/01/2029^(d)		1,000,000		1,080,813
Total Restaurants				2,188,163

Retail - Consumer Discretionary (0.17%)
ERAC USA Finance LLC
5.20%, 10/30/2034^(d)		379,000		384,836

Semiconductors (0.25%)
Broadcom, Inc.
3.47%, 04/15/2034^(d)		651,000		568,852

Software & Services (1.53%)
Amentum Escrow Corp.
7.25%, 08/01/2032^(d)		250,000		255,640
Cloud Software Group, Inc.
6.50%, 03/31/2029^(d)		2,250,000		2,194,734
8.25%, 06/30/2032^(d)		1,000,000		1,038,128
Total Software & Services				3,488,502

Supermarkets & Pharmacies (0.93%)
Albertsons Cos. Inc / Safeway, Inc. / New Albertsons LP / Albertsons LLC
6.50%, 02/15/2028^(d)		2,100,000		2,131,968

Travel & Lodging (3.15%)
Carnival Corp.
6.00%, 05/01/2029^(d)		600,000		598,917
7.00%, 08/15/2029^(d)		500,000		521,862
NCL Corp., Ltd.
8.13%, 01/15/2029^(d)		1,000,000		1,063,711

	Principal Amount		Value (Note 2)
Royal Caribbean Cruises, Ltd.
6.00%, 02/01/2033^(d)	$	500,000	$	503,902
6.25%, 03/15/2032^(d)		2,189,000		2,233,701
8.25%, 01/15/2029^(d)		1,100,000		1,164,392
Viking Cruises, Ltd.
9.13%, 07/15/2031^(d)		1,000,000		1,091,072
Total Travel & Lodging				7,177,557

Utilities (3.12%)
AmeriGas Partners LP / AmeriGas Finance Corp.
9.38%, 06/01/2028^(d)		800,000		838,029
National Rural Utilities Cooperative Finance Corp.
3M US SOFR + 3.17%, 04/30/2043^(a)		2,687,000		2,690,917
Sempra
5Y US TI + 2.868%, 04/01/2052^(a)		2,725,000		2,527,989
Talen Energy
8.63%, 06/01/2030^(d)		1,000,000		1,078,254
Total Utilities				7,135,189

Waste & Environment Services & Equipment (0.88%)
Wrangler Holdco Corp.
6.63%, 04/01/2032^(d)		2,000,000		2,008,920

TOTAL CORPORATE BONDS
(Cost $172,498,133)				174,879,347

	Shares		(Note 2)
EXCHANGE TRADED FUNDS (1.45%)

Utilities (1.45%)
Utilities (1.45%)
Invesco Senior Loan ETF		157,290		3,303,090

Total Utilities				3,303,090

TOTAL EXCHANGE TRADED FUNDS
(Cost $3,321,965)				3,303,090

	Principal Amount		Value (Note 2)
GOVERNMENT BONDS (6.07%)

U.S. Treasury Bonds (6.07%)
United States Treasury Bonds
4.25%, 02/15/2054		2,440,000		2,400,159
4.38%, 05/15/2034		2,540,000		2,605,286
4.50%, 02/15/2044		1,855,000		1,874,130
4.63%, 05/15/2044		1,102,000		1,131,875
4.63%, 05/15/2054		4,878,000		5,108,942
United States Treasury Notes
4.88%, 05/31/2026		722,000		728,755
Total U.S. Treasury Bonds				13,849,147

Principal

Amount

Value

(Note 2)

TOTAL GOVERNMENT BONDS

(Cost $13,569,712)

13,849,147

	Shares		Value (Note 2)
PREFERRED STOCK (1.56%)

Financials (1.12%)
Banks (0.13%)
Bank of Hawaii., 8.000%^(f)		11,359		294,312

Consumer Finance (0.59%)
American Express Co., 3.550%^(f)		1,290,000		1,207,728
Synchrony Financial, 5Y US TI + 4.044%^(a)(f)		5,760		146,938
				1,354,666

Financial Services (0.23%)
Charles Schwab Corp., Series G, 5Y US TI + 4.971%^(a)(f)		538,000		533,049

Life Insurance (0.17%)
Jackson Financial, Inc., 8.000%^(f)		14,620		377,050

Total Financials				2,559,077

Utilities (0.44%)
Utilities (0.44%)
Duke Energy Corp., 5Y US TI + 3.388%^(a)(f)		1,000,000		995,742

Total Utilities				995,742

TOTAL PREFERRED STOCK
(Cost $3,440,463)				3,554,819

7-Day

Yield

Value

(Note 2)

SHORT TERM INVESTMENTS (0.31%)

Money Market Fund (0.31%)

Morgan Stanley Institutional Liquidity Funds - Government Portfolio

5.21

701,720

TOTAL SHORT TERM INVESTMENTS

(Cost $701,720)

701,720

	7-Day Yield	Shares	Value (Note 2)
TOTAL INVESTMENTS (101.61%)
(Cost $228,434,492)			$	231,713,976

Liabilities In Excess Of Other Assets (-1.61%)				(3,675,089	)

NET ASSETS (100.00%)			$	228,038,887

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

SOFRINDX - Secured Overnight Financing Rate Index

TI – Treasury Index

Reference Rates:

30D US SOFR - 30 Day SOFR as of July 31, 2024 was 5.34%

1D US SOFR - 1 Day SOFR as of July 31, 2024 was 5.38%

1M US SOFR - 1 Month SOFR as of July 31, 2024 was 5.34%

3M US SOFR - 3 Month SOFR as of July 31, 2024 was 5.24%

1Y US TI - 1 Year US TI as of July 31, 2024 was 4.73%

5Y US TI - 5 Year US TI as of July 31, 2024 was 3.97%

^(a)	Floating or variable rate security. The reference rate is described above. The rate in effect as of July 31, 2024 is based on the reference rate plus the displayed spread as of the security’s last reset date.
^(b)	Issued with zero coupon.
^(c)	Interest only security.
^(d)	Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2024, the aggregate market value of those securities was $117,785,028, representing 51.65% of net assets.
^(e)	The SOFRINDX is a compounded average of the daily Secured Overnight Financing Rate determined by reference to the SOFR Index for any interest period.
^(f)	Perpetual maturity. This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

See Notes to Quarterly Statement of Investments.

ALPS | Smith Balanced Opportunity Fund

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Principal Amount		Value (Note 2)
BANK LOANS (0.15%)

Pipeline (0.15%)
Buckeye Partners LP
1M US SOFR + 2.50%, 11/22/2030^(a)	$	21,000	$	21,042

TOTAL BANK LOANS
(Cost $21,050)				21,042

	Shares		Value (Note 2)
COMMON STOCKS (65.42%)

Communications (5.10%)
Media (4.21%)
Alphabet, Inc., Class A		1,645		282,184
Meta Platforms, Inc., Class A		387		183,759
Walt Disney Co.		1,134		106,244
				572,187

Telecommunications (0.89%)
AT&T, Inc.		6,285		120,986

Total Communications				693,173

Consumer Discretionary (7.09%)
Consumer Discretionary Products (0.67%)
NIKE, Inc., Class B		1,215		90,955

Consumer Discretionary Services (2.16%)
Carnival Corp.^(b)		5,120		85,299
Marriott International, Inc., Class A		419		95,239
McDonald's Corp.		427		113,326
				293,864

Retail & Whsle - Discretionary (4.26%)
Amazon.com, Inc.^(b)		1,770		330,955
Lowe's Cos., Inc.		511		125,456
Lululemon Athletica, Inc.^(b)		105		27,159
O'Reilly Automotive, Inc.^(b)		85		95,739
				579,309

Total Consumer Discretionary				964,128

Consumer Staples (4.40%)
Consumer Staple Products (0.71%)
Campbell Soup Co.		2,055		96,297

	Shares		Value (Note 2)
Retail & Wholesale - Staples (3.69%)
Costco Wholesale Corp.	219	$	180,018
ITOCHU Corp., ADR	715		73,145
Target Corp.	401		60,314
Walmart, Inc.	2,745		188,417
			501,894

Total Consumer Staples			598,191

Energy (3.58%)
Oil & Gas (3.58%)
Baker Hughes Co.	2,135		82,667
BP PLC, Sponsored ADR	2,055		72,726
ConocoPhillips	1,655		184,036
Enbridge, Inc.	3,962		148,258
			487,687

Total Energy			487,687

Financials (8.04%)
Banking (3.02%)
JPMorgan Chase & Co.	1,455		309,624
Wells Fargo & Co.	1,695		100,581
			410,205
Financial Services (5.02%)
American Express Co.	730		184,720
Blackstone, Inc.	325		46,199
Goldman Sachs Group, Inc.	235		119,622
Intercontinental Exchange, Inc.	1,088		164,897
Mastercard, Inc., Class A	361		167,399
			682,837

Total Financials			1,093,042

Health Care (8.14%)
Health Care (8.14%)
Amgen, Inc.	425		141,300
Boston Scientific Corp.^(b)	1,560		115,253
HCA Healthcare, Inc.	510		185,156
IQVIA Holdings, Inc.^(b)	450		110,804
Thermo Fisher Scientific, Inc.	284		174,188
UnitedHealth Group, Inc.	399		229,887
Vertex Pharmaceuticals, Inc.^(b)	302		149,707
			1,106,295

Total Health Care			1,106,295

Industrials (7.82%)
Industrial Products (5.78%)
Caterpillar, Inc.	509		176,216
Deere & Co.	265		98,575
Lockheed Martin Corp.	293		158,783
Schneider Electric SE, ADR	2,780		133,885
TE Connectivity, Ltd.	625		96,456

	Shares		Value (Note 2)
Trane Technologies PLC	365	$	122,012
			785,927

Industrial Services (2.04%)
Old Dominion Freight Line, Inc.	683		143,553
Waste Management, Inc.	660		133,756
			277,309

Total Industrials			1,063,236

Materials (1.66%)
Materials (1.66%)
Freeport-McMoRan, Inc.	1,455		66,072
Linde PLC	265		120,178
Norsk Hydro ASA, ADR	7,165		39,551
			225,801

Total Materials			225,801

Real Estate (1.36%)
Real Estate (1.36%)
Equity LifeStyle Properties, Inc.	1,521		104,462
Prologis, Inc.	640		80,672
			185,134

Total Real Estate			185,134

Technology (17.13%)
Software & Tech Services (5.97%)
Adobe, Inc.^(b)	192		105,917
International Business Machines Corp.	570		109,520
Microsoft Corp.	839		350,995
Salesforce, Inc.	305		78,934
Synopsys, Inc.^(b)	298		166,379
			811,745

Tech Hardware & Semiconductors (11.16%)
Apple, Inc.	2,732		606,722
Intel Corp.	2,560		78,694
Motorola Solutions, Inc.	290		115,686
NVIDIA Corp.	3,355		392,601
Taiwan Semiconductor Manufacturing Co., Ltd., ADR	1,301		215,706
Texas Instruments, Inc.	523		106,593
			1,516,002

Total Technology			2,327,747

Utilities (1.10%)
Utilities (1.10%)
PPL Corp.	5,025		149,343

Total Utilities			149,343

	Shares		Value (Note 2)
TOTAL COMMON STOCKS
(Cost $5,657,338)		$	8,893,777

	Principal Amount		Value (Note 2)
COLLATERALIZED MORTGAGE OBLIGATIONS (6.71%)

Fannie Mae
Series 1997-10, Class FA,
30D US SOFR + 0.71%, 03/18/2027^(a)	$	1,584	$	1,583
Series 1997-42, Class PK,
4.500%, 07/18/2027		3,341		3,275
Series 2002-21, Class FD,
30D US SOFR + 1.01%, 04/25/2032^(a)		3,786		3,801
Series 2002-22, Class GC,
6.500%, 04/25/2032		5,484		5,688
Series 2002-58, Class PG,
6.000%, 09/25/2032		13,904		14,366
Series 2002-58, Class FG,
30D US SOFR + 1.11%, 08/25/2032^(a)		4,929		4,982
Series 2003-117, Class KB,
6.000%, 12/25/2033		11,603		12,026
Series 2003-87, Class SL,
8.98% - 30D US SOFR, 07/25/2033^(a)		26,757		26,326
Series 2004-60, Class JC,
5.500%, 04/25/2034		14,699		15,062
Series 2005-27, Class GH,
5.500%, 04/25/2035		90,000		91,726
Series 2007-104, Class ZE,
6.000%, 08/25/2037		13,614		14,076
Series 2007-22, Class A,
5.500%, 03/25/2037		6,331		6,559
Series 2007-55, Class PH,
6.000%, 06/25/2047		17,593		18,608
Series 2007-76, Class ZG,
6.000%, 08/25/2037		122,479		126,535
Series 2008-1, Class LF,
30D US SOFR + 0.81%, 05/25/2037^(a)		15,000		15,004
Series 2008-22, Class DB,
5.000%, 04/25/2048		12,945		12,761
Series 2009-12, Class LC,
7.911%, 06/25/2037^(a)		11,526		12,321
Series 2009-51, Class BZ,
4.500%, 07/25/2039		18,681		18,401
Series 2010-61, Class WA,
5.998%, 06/25/2040^(a)		10,834		10,990

	Principal Amount		Value (Note 2)
Series 2010-98, Class BH,
5.500%, 09/25/2040	$	6,342	$	6,437
Series 2012-153, Class B,
7.000%, 07/25/2042		5,996		6,531
Series 2012-64, Class NA,
3.000%, 08/25/2041		306		304
Series 2013-18, Class MY,
3.000%, 03/25/2033		15,000		13,887
Series 2013-61, Class NY,
3.000%, 06/25/2033		35,000		30,302
Series 2014-21, Class MA,
2.000%, 09/25/2041		8,198		7,707
				479,258
Freddie Mac
Series 1996-1843, Class Z,
7.000%, 04/15/2026		29		29
Series 1999-2123, Class L,
6.500%, 01/15/2029		12,387		12,535
Series 2002-2538, Class FB,
30D US SOFR + 0.51%, 12/15/2032^(a)		1,656		1,654
Series 2003-2696, Class DG,
5.500%, 10/15/2033		8,479		8,732
Series 2005-2977, Class AT,
4.500%, 05/15/2025		758		753
Series 2005-2993, Class TF,
30D US SOFR + 0.46%, 06/15/2025^(a)		336		336
Series 2006-3174, Class LF,
30D US SOFR + 0.46%, 05/15/2036^(a)		4,803		4,772
Series 2006-3239, Class EF,
30D US SOFR + 0.46%, 11/15/2036^(a)		6,952		6,855
Series 2007-3298, Class Z,
6.000%, 04/15/2037		20,926		21,657
Series 2008-3409, Class DB,
6.000%, 01/15/2038		14,662		15,385
Series 2009-3572, Class KT,
4.500%, 09/15/2039		13,230		13,152
Series 2010-3645, Class WD,
4.500%, 02/15/2040		26,000		25,430
Series 2010-3699, Class LC,
4.000%, 03/15/2040		8,713		8,568
Series 2010-3721, Class FB,
30D US SOFR + 0.61%, 09/15/2040^(a)		8,659		8,588
Series 2010-3759, Class PY,
4.000%, 11/15/2040		25,000		23,941
Series 2010-3770, Class JZ,
4.000%, 12/15/2040		21,722		21,135

	Principal Amount		Value (Note 2)
Series 2011-3954, Class PG,
2.500%, 07/15/2041	$	17,456	$	16,498
Series 2012-3987, Class LP,
3.500%, 01/15/2042		26,000		23,816
Series 2012-4032, Class AD,
2.000%, 10/15/2041		6,534		6,256
Series 2012-4043, Class PB,
1.500%, 05/15/2027		5,905		5,670
Series 2013-4226, Class GZ,
3.000%, 07/15/2043		11,484		10,300
Series 2015-4498, Class JA,
2.500%, 04/15/2037		24,971		23,099
				259,161
Ginnie Mae
Series 2003-52, Class AP,
–%, 06/16/2033^(c)		8,438		7,255
Series 2004-86, Class C,
5.500%, 10/20/2034		12,705		12,790
Series 2005-91, Class PD,
5.500%, 12/20/2035		8,125		8,250
Series 2007-70, Class FC,
1M US SOFR + 0.58%, 11/20/2037^(a)		13,500		13,462
Series 2008-2, Class PC,
4.750%, 01/20/2038		6,002		5,933
Series 2008-46, Class FA,
1M US SOFR + 0.714%, 05/20/2038^(a)		5,868		5,867
Series 2008-60, Class JP,
5.500%, 07/20/2038		42,978		43,219
Series 2009-104, Class KA,
4.500%, 08/16/2039		875		872
Series 2012-39, Class GA,
3.000%, 10/16/2040		5,545		5,317
Series 2013-149, Class BP,
3.500%, 10/20/2043		50,000		42,974
Series 2013-98, Class DM,
3.500%, 07/20/2042		1,640		1,626
Series 2015-91, Class NE,
3.000%, 10/20/2044		1,566		1,544
Series 2019-152, Class LC,
3.500%, 10/20/2049		2,332		2,142
Series 2019-162, Class GA,
3.000%, 10/20/2049		2,148		2,070
Series 2020-167, Class EC,
1.000%, 02/20/2049		6,330		5,022
Series 2020-5, Class LC,
3.500%, 10/20/2049		2,571		2,387
Series 2021-76, Class ND,
1.250%, 08/20/2050		7,540		5,927

	Principal Amount		Value (Note 2)
Series 2023-57, Class CV,
5.000%, 04/20/2034	$	7,118	$	7,147
				173,804

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $999,091)				912,223

	Principal Amount		Value (Note 2)
MORTGAGE-BACKED SECURITIES (6.55%)

Fannie Mae Pool
Series 2004-,
5.500%, 08/01/2034		22,595		22,565
5.500%, 11/01/2034		35,608		35,235
Series 2005-,
7.731%, 06/15/2034		9,636		10,101
Series 2007-,
5.500%, 08/01/2037		25,243		25,115
1Y US TI + 2.41%, 10/01/2035^(a)		16,510		16,657
Series 2008-,
5.500%, 03/01/2038		30,190		30,636
5.500%, 05/01/2038		26,575		26,946
Series 2009-,
5.500%, 11/01/2039		26,546		26,485
Series 2012-AM0762,
3.290%, 09/01/2032		7,719		7,207
Series 2012-AM1671,
2.100%, 12/01/2027		19,512		18,689
Series 2014-,
3.500%, 11/01/2033		22,625		21,700
Series 2015-AM8645,
2.690%, 05/01/2027		19,993		19,126
Series 2015-AM8674,
2.810%, 04/01/2025		60,000		58,885
Series 2016-,
2.390%, 06/01/2025		70,734		68,964
Series 2017-,
3.000%, 10/01/2027		3,466		3,336
Series 2017-AN6670,
3.210%, 09/01/2027		28,129		26,986
Series 2020-,
1.400%, 11/01/2032		55,000		43,768
				462,401
Freddie Mac Gold Pool
Series 2012-,
3.000%, 05/01/2032		23,782		22,743

	Principal Amount		Value (Note 2)
Freddie Mac Pool
Series 2023-,
4.750%, 01/01/2033	$	69,050	$	68,966

Ginnie Mae II Pool
Series 2009-,
5.000%, 10/20/2039		10,710		10,745
5.500%, 02/20/2039		20,017		20,137
Series 2010-,
4.000%, 12/20/2040		21,562		20,494
4.500%, 04/20/2040		97,552		95,213
4.500%, 08/20/2040		19,964		19,485
Series 2011-,
5.000%, 04/20/2041		24,256		24,335
Series 2012-,
3.500%, 05/20/2042		34,852		31,819
4.000%, 08/20/2042		58,243		55,247
Series 2022-,
3.000%, 12/20/2044		8,870		7,820
Series 2023-,
6.500%, 10/20/2053		49,753		51,305
				336,600
TOTAL MORTGAGE-BACKED SECURITIES
(Cost $925,631)				890,710

	Principal Amount		Value (Note 2)
CORPORATE BONDS (10.48%)

Aerospace & Defense (0.74%)
Boeing Co.
2.20%, 02/04/2026		18,000		17,136
6.53%, 05/01/2034^(d)		34,000		35,705
L3Harris Technologies, Inc.
5.40%, 07/31/2033		16,000		16,305
RTX Corp.
6.10%, 03/15/2034		29,000		31,267
Total Aerospace & Defense				100,413

Airlines (0.48%)
Alaska Airlines 2020-1 Class A Pass Through Trust
4.80%, 08/15/2027^(d)		39,184		38,728
Alaska Airlines 2020-1 Class B Pass Through Trust
8.00%, 08/15/2025^(d)		13,181		13,403
British Airways 2020-1 Class A Pass Through Trust
4.25%, 11/15/2032^(d)		4,910		4,705
United Airlines 2020-1 Class A Pass Through Trust
Series 20-1
5.88%, 10/15/2027		8,815		8,926
Total Airlines				65,762

	Principal Amount		Value (Note 2)
Automobiles Manufacturing (0.60%)
Ford Motor Credit Co. LLC
6.80%, 05/12/2028	$	42,000	$	43,817
General Motors Financial Co., Inc.
6.10%, 01/07/2034		36,000		37,103
Total Automobiles Manufacturing				80,920

Banks (0.47%)
Goldman Sachs Bank USA
1D US SOFR + 0.777%, 03/18/2027^(a)		10,000		10,042
Intesa Sanpaolo SpA
1Y US TI + 3.90%, 06/20/2054^(a)(d)		15,000		16,129
Truist Financial Corp.
1D US SOFR + 2.36%, 06/08/2034^(a)		20,000		20,648
Wells Fargo & Co.
1D US SOFR + 2.02%, 04/24/2034^(a)		17,000		17,205
Total Banks				64,024

Biotechnology (0.53%)
Amgen, Inc.
5.25%, 03/02/2033		42,000		42,705
5.51%, 03/02/2026		13,000		13,000
Royalty Pharma PLC
5.90%, 09/02/2054		17,000		16,925
Total Biotechnology				72,630

Cable & Satellite (0.22%)
CCO Holdings LLC / CCO Holdings Capital Corp.
4.50%, 06/01/2033^(d)		22,000		18,096
Sirius XM Radio, Inc.
5.00%, 08/01/2027^(d)		12,000		11,621
Total Cable & Satellite				29,717

Casinos & Gaming (0.11%)
Caesars Entertainment, Inc.
8.13%, 07/01/2027^(d)		14,000		14,309

Chemicals (0.07%)
Avient Corp.
5.75%, 05/15/2025^(d)		10,000		9,986

Consumer Finance (0.47%)
Boost Newco Borrower LLC
7.50%, 01/15/2031^(d)		19,000		20,025
Discover Financial Services
SOFRINDX + 3.37%, 11/02/2034^(a)(e)		38,000		43,792
Total Consumer Finance				63,817

	Principal Amount		Value (Note 2)
Diversified Banks (0.54%)
Bank of America Corp.
1D US SOFR + 1.91%, 04/25/2034^(a)	$	26,000	$	26,255
5Y US TI + 1.20%, 09/21/2036^(a)		21,000		17,238
JPMorgan Chase & Co.
1D US SOFR + 0.93%, 04/22/2028^(a)		12,000		12,227
1D US SOFR + 1.62%, 01/23/2035^(a)		17,000		17,275
Total Diversified Banks				72,995

Entertainment Resources (0.08%)
Six Flags Entertainment Corp. / Six Flags Theme Parks, Inc.
6.63%, 05/01/2032^(d)		11,000		11,302

Exploration & Production (0.54%)
Coterra Energy, Inc.
5.60%, 03/15/2034		22,000		22,407
Occidental Petroleum Corp.
6.20%, 03/15/2040		21,000		21,605
7.88%, 09/15/2031		27,000		30,919
Total Exploration & Production				74,931

Financial Services (1.14%)
Charles Schwab Corp.
1D US SOFR + 2.50%, 05/19/2034^(a)		20,000		20,756
SOFRINDX + 1.05%, 03/03/2027^(a)(e)		28,000		28,196
Goldman Sachs Group, Inc.
1D US SOFR + 1.552%, 04/25/2035^(a)		10,000		10,454
Morgan Stanley
1D US SOFR + 2.05%, 11/01/2034^(a)		26,000		28,678
UBS Group AG
1D US SOFR + 3.92%, 08/12/2033^(a)(d)		52,000		55,887
1Y US TI + 1.80%, 09/22/2029^(a)(d)		7,000		7,314
1Y US TI + 2.00%, 09/22/2034^(a)(d)		5,000		5,324
Total Financial Services				156,609

Food & Beverage (0.51%)
J M Smucker Co.
6.20%, 11/15/2033		14,000		15,114
JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co Sarl
6.75%, 03/15/2034^(d)		10,000		10,707
7.25%, 11/15/2053^(d)		9,000		9,941
JDE Peet's NV
0.80%, 09/24/2024^(d)		16,000		15,863
Pilgrim's Pride Corp.
6.88%, 05/15/2034		16,000		17,312
Total Food & Beverage				68,937

	Principal Amount		Value (Note 2)
Health Care Facilities & Services (0.38%)
Cardinal Health, Inc.
5.45%, 02/15/2034	$	21,000	$	21,513
HCA, Inc.
5.50%, 06/01/2033		30,000		30,377
Total Health Care Facilities & Services				51,890

Industrial Other (0.24%)
Jacobs Engineering Group, Inc.
5.90%, 03/01/2033		13,000		13,292
Quanta Services, Inc.
0.95%, 10/01/2024		19,000		18,825
Total Industrial Other				32,117

Integrated Oils (0.07%)
TotalEnergies Capital SA
5.15%, 04/05/2034		9,000		9,207

Life Insurance (0.10%)
Prudential Financial, Inc.
3M US L + 3.031%, 05/15/2045^(a)		14,000		13,856

Manufactured Goods (0.09%)
Chart Industries, Inc.
7.50%, 01/01/2030^(d)		12,000		12,499

Medical Equipment & Devices Manufacturing (0.16%)
Solventum Corp.
5.45%, 03/13/2031^(d)		21,000		21,192

Pharmaceuticals (0.22%)
Bristol-Myers Squibb Co.
5.20%, 02/22/2034		20,000		20,492
Pfizer Investment Enterprises Pte, Ltd.
4.75%, 05/19/2033		10,000		9,972
Total Pharmaceuticals				30,464

Pipeline (0.86%)
Buckeye Partners LP
6.88%, 07/01/2029^(d)		30,000		30,496
Energy Transfer LP
5.60%, 09/01/2034		2,000		2,031
6.05%, 09/01/2054		2,000		2,006
7.38%, 02/01/2031^(d)		20,000		21,135
Flex Intermediate Holdco LLC
3.36%, 06/30/2031^(d)		31,000		26,477
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
6.50%, 07/15/2027		34,000		34,364
Total Pipeline				116,509

	Principal Amount		Value (Note 2)
Power Generation (0.39%)
Vistra Operations Co. LLC
5.50%, 09/01/2026^(d)	$	33,000	$	32,726
6.95%, 10/15/2033^(d)		19,000		20,653
Total Power Generation				53,379

Publishing & Broadcasting (0.17%)
Nexstar Media, Inc.
4.75%, 11/01/2028^(d)		25,000		23,025

Real Estate (0.26%)
CoStar Group, Inc.
2.80%, 07/15/2030^(d)		15,000		13,067
VICI Properties LP / VICI Note Co., Inc.
4.63%, 06/15/2025^(d)		22,000		21,805
Total Real Estate				34,872

Refining & Marketing (0.35%)
HF Sinclair Corp.
4.50%, 10/01/2030		42,000		40,150
5.00%, 02/01/2028^(d)		8,000		7,881
Total Refining & Marketing				48,031

Software & Services (0.29%)
Leidos, Inc.
5.75%, 03/15/2033		21,000		21,757
VMware LLC
2.20%, 08/15/2031		21,000		17,547
Total Software & Services				39,304

Transportation & Logistics (0.07%)
FedEx Corp. 2020-1 Class AA Pass Through Trust
1.88%, 02/20/2034		10,567		9,000

Travel & Lodging (0.08%)
Royal Caribbean Cruises, Ltd.
6.25%, 03/15/2032^(d)		10,000		10,204

Utilities (0.25%)
National Rural Utilities Cooperative Finance Corp.
3M US SOFR + 3.171%, 04/30/2043^(a)		9,000		9,013
5Y US TI + 3.533%, 09/15/2053^(a)		15,000		15,654
Sempra
5Y US TI + 2.868%, 04/01/2052^(a)		9,000		8,349
Total Utilities				33,016

TOTAL CORPORATE BONDS
(Cost $1,412,997)				1,424,917

		Principal Amount		Value (Note 2)
GOVERNMENT BONDS (8.66%)
U.S. Treasury Bonds (8.66%)
United States Treasury Bonds
4.25%, 02/15/2054	$	165,000	$	162,306
4.38%, 05/15/2034		61,000		62,568
4.50%, 03/31/2026		13,000		13,020
4.50%, 02/15/2044		176,000		177,815
4.63%, 05/15/2044		173,000		177,690
4.63%, 05/15/2054		224,000		234,605
4.75%, 11/15/2053		126,000		134,525
4.88%, 11/30/2025		29,000		29,117
United States Treasury Notes
4.00%, 07/31/2029		11,000		11,038
4.50%, 05/15/2027		87,000		87,907
4.88%, 05/31/2026		86,000		86,805
Total U.S. Treasury Bonds				1,177,396

TOTAL GOVERNMENT BONDS
(Cost $1,134,024)				1,177,396

	Shares		Value (Note 2)
PREFERRED STOCK (0.40%)

Financials (0.31%)
Banks (0.28%)
Bank of Hawaii., 8.000%^(f)		448		11,608
Huntington Bancshares, Inc., Series J, 6.875%^(f)		1,037		25,520

Consumer Finance (0.03%)
Synchrony Financial, 5Y US TI + 4.044%^(a)(f)		178		4,541

Total Financials				41,669

Government (0.09%)
Government Agencies (0.09%)
Farm Credit Bank of Texas, 5Y US TI + 3.291%^(a)(f)		12,000		12,249

Total Government				12,249

TOTAL PREFERRED STOCK
(Cost $53,575)				53,918

	7-Day Yield			Shares		Value (Note 2)
SHORT TERM INVESTMENTS (1.12%)
Money Market Fund (1.12%)
Morgan Stanley Institutional Liquidity Funds - Government Portfolio		5.21	%		40,262	$	40,262
State Street Institutional Treasury Plus Money Market Fund - Premier Class		5.27	%		112,458		112,458

TOTAL SHORT TERM INVESTMENTS
(Cost $152,720)							152,720

TOTAL INVESTMENTS (99.49%)
(Cost $10,356,426)						$	13,526,703

Other Assets In Excess Of Liabilities (0.51%)							69,711

NET ASSETS (100.00%)						$	13,596,414

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

SOFRINDX - Secured Overnight Financing Rate Index

TI – Treasury Index

Reference Rates:

3M US L - 3 Month LIBOR as of July 31, 2024 was 5.50%

30D US SOFR - 30 Day SOFR as of July 31, 2024 was 5.34%

1D US SOFR - 1 Day SOFR as of July 31, 2024 was 5.38%

1M US SOFR - 1 Month SOFR as of July 31, 2024 was 5.34%

3M US SOFR - 3 Month SOFR as of July 31, 2024 was 5.24%

1Y US TI - 1 Year US TI as of July 31, 2024 was 4.73%

5Y US TI - 5 Year US TI as of July 31, 2024 was 3.97%

^(a)	Floating or variable rate security. The reference rate is described above. The rate in effect as of July 31, 2024 is based on the reference rate plus the displayed spread as of the security's last reset date.
^(b)	Non-Income Producing Security.
^(c)	Issued with zero coupon.
^(d)	Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2024, the aggregate market value of those securities was $540,205, representing 3.97% of net assets.
^(e)	The SOFRINDX is a compounded average of the daily Secured Overnight Financing Rate determined by reference to the SOFR Index for any interest period.
^(f)	Perpetual maturity. This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

See Notes to Quarterly Statement of Investments.

Notes to Quarterly Statements of Investments

July 31, 2024 (Unaudited)

1. ORGANIZATION

Financial Investors Trust (the “Trust”), a Delaware statutory trust, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust consists of multiple separate portfolios or series. This report includes the statements of investments of the ALPS | Smith Short Duration Bond Fund, ALPS | Smith Total Return Bond Fund, ALPS | Smith Credit Opportunities Fund and ALPS |Smith Balanced Opportunity Fund (each, a “Fund” and collectively, the “Funds”).

The ALPS | Smith Total Return Bond Fund seeks to obtain maximum total return, consistent with preservation of capital. The ALPS | Smith Short Duration Bond Fund seeks as high a level of current income as is consistent with preservation of capital. The ALPS | Smith Balanced Opportunity Fund seeks long-term capital growth, consistent with preservation of capital and balanced by current income. The ALPS | Smith Credit Opportunities Fund seeks to obtain maximum risk-adjusted return with a secondary focus on high current income.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. Each Fund is considered an investment company for financial reporting purposes, and follows accounting policies in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), including policies specific to investment companies. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The following is a summary of significant accounting policies consistently followed by the Funds and subsidiaries, as applicable, in preparation of their financial statements. The Funds are considered investment companies under U.S. GAAP and follow the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification Topic 946 "Financial Services -Investment Companies".

The market price for debt obligations is generally the price supplied by an independent third-party pricing service utilized by ALPS Advisors, Inc. (the “Adviser”) as the valuation designee (the “Valuation Designee”), which may use a matrix, formula or other objective method that takes into consideration quotations from dealers, market transactions in comparable investments, market indices and yield curves. If vendors are unable to supply a price, or if the price supplied is deemed to be unreliable, the market price may be determined using quotations received from one or more brokers-dealers that make a market in the security. Investments in non-exchange traded funds are fair valued at their respective net asset values. Bonds may be purchased and held as odd lots. Pricing vendors generally value securities assuming orderly transactions of institutional round lot sizes, but a Fund may hold or transact in such securities in smaller, odd lot sizes. Special valuation considerations may apply with respect to a Fund’s odd-lot positions, as the Fund may receive different prices when it sells such positions than it would receive for sales of institutional round lot positions. The Funds have odd lot pricing policies they employ to value odd lot securities.

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Trust’s Board of Trustees (the “Board” or “Trustees”) has appointed the Adviser to serve as the Valuation Designee to perform fair value determinations for investments in the Funds. When such prices or quotations are not available, or when the Valuation Designee believes that they are unreliable, securities may be priced using fair value procedures utilized by the Valuation Designee. The fair valuation policies and procedures (“FV Procedures”) are utilized by the Valuation Designee for the fair valuation of portfolio assets held by the Funds in the event that (1) market quotations for the current price of a portfolio security or asset are not readily available, or (2) available market quotations that would otherwise be used to value a portfolio security or asset in accordance with the Funds’ Pricing Procedures appear to be unreliable. The Pricing Procedures reflect certain pricing methodologies (or “logics”) that are not “readily available market quotations” and thus are viewed and treated as fair valuations. The Valuation Designee routinely meets to discuss fair valuations of portfolio securities and other instruments held by the Funds.

Level 1 –

Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that a Fund has the ability to access at the measurement date;

Level 2 –

Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and

Level 3 –

The following is a summary of each Fund’s investments/financial instruments in the fair value hierarchy as of July 31, 2024:

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| Smith Short Duration Bond Fund
Bank Loans	$	–	$	1,502,985	$	–	$	1,502,985
Collateralized Mortgage Obligations		–		299,567		–		299,567
Commercial Mortgage-Backed Securities		–		139,092		–		139,092
Mortgage-Backed Securities		–		4,903,212		–		4,903,212
Corporate Bonds		–		434,597,167		–		434,597,167
Government Bonds		–		129,432,984		–		129,432,984
Short Term Investments		15,671,336		–		–		15,671,336
Total	$	15,671,336	$	570,875,007	$	–	$	586,546,343

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| Smith Total Return Bond Fund
Bank Loans	$	–	$	70,093,604	$	–	$	70,093,604
Collateralized Mortgage Obligations		–		273,639,129		–		273,639,129
Commercial Mortgage-Backed Securities		–		58,920,831		–		58,920,831
Mortgage-Backed Securities		–		456,218,832		–		456,218,832
Corporate Bonds		2,383,549		1,194,146,730		–		1,196,530,279
Government Bonds		–		925,608,767		–		925,608,767
Preferred Stock		13,827,822		34,540,719		–		48,368,541
Short Term Investments		36,336,614		–		–		36,336,614
Total	$	52,547,985	$	3,013,168,612	$	–	$	3,065,716,597

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| Smith Credit Opportunities Fund
Bank Loans	$	–	$	20,585,098	$	–	$	20,585,098
Collateralized Mortgage Obligations		–		7,983,870		–		7,983,870
Commercial Mortgage-Backed Securities		–		3,063,754		–		3,063,754
Mortgage-Backed Securities		–		3,793,131		–		3,793,131
Corporate Bonds		–		174,879,347		–		174,879,347
Exchange Traded Funds		3,303,090		–		–		3,303,090
Government Bonds		–		13,849,147		–		13,849,147
Preferred Stock		818,300		2,736,519		–		3,554,819
Short Term Investments		701,720		–		–		701,720
Total	$	4,823,110	$	226,890,866	$	–	$	231,713,976

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| Smith Balanced Opportunity Fund
Bank Loans	$	–	$	21,042	$	–	$	21,042
Common Stocks^(a)		8,893,777		–		–		8,893,777
Collateralized Mortgage Obligations		–		912,223		–		912,223
Mortgage-Backed Securities		–		890,710		–		890,710
Corporate Bonds		–		1,424,917		–		1,424,917
Government Bonds		–		1,177,396		–		1,177,396
Preferred Stock		41,669		12,249		–		53,918
Short Term Investments		152,720		–		–		152,720
Total	$	9,088,166	$	4,438,537	$	–	$	13,526,703

^(a)

For detailed descriptions of sector and/or industry, see the accompanying Statement of Investments.

For the period ended July 31, 2024, the Funds did not have any securities that used significant unobservable inputs (Level 3) in determining fair value.

Distributions to Shareholders: Each Fund normally pays dividends, if any, on a monthly basis and distributes capital gains, if any, annually. Income dividend distributions are derived from interest, dividends, and other income a Fund receives from its investments, including distributions of short- term capital gains. Capital gain distributions are derived from gains realized when a Fund sells a security it has owned for more than a year or from long-term capital gain distributions from underlying investments. Each Fund may make additional distributions and dividends at other times if its portfolio manager or managers believe doing so may be necessary for the Fund to avoid or reduce taxes.

Treasury Inflation Protected-Securities (“TIPS”): The Funds may invest in TIPS, including structured bonds in which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index for Urban Consumers. The adjustments to principal due to inflation/deflation are reflected as increases/decreases to interest income with a corresponding adjustment to cost. Such adjustments may have a significant impact on a Fund’s distributions and may result in a return of capital to shareholders. The repayment of the original bond principal upon maturity is guaranteed by the full faith and credit of the U.S. Government.

Loan Participations and Assignments: Certain Funds may invest in loan participations and assignments. The Fund considers loan participations and assignments to be investments in debt securities. Loan participations typically will result in the Fund having a contractual relationship only with the lender, not with the borrower. The Fund will have the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the borrower. Under a loan participation, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set- off against the borrower, and the Fund may not benefit directly from any collateral supporting the loan in which it has purchased the participation. As a result, the Fund will assume the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower. When the Fund purchases assignments of loans from lenders, the Fund will acquire direct rights against the borrower on the loan, except that under certain circumstances such rights may be more limited than those held by the assigning lender.

Financial Investors Trust

Schedules of Investments

(Unaudited)

July 31, 2024

ALPS | CoreCommodity Natural Resources ETF

STATEMENT OF INVESTMENTS

July 31, 2024 (Unaudited)

	Shares		Value (Note 2)
COMMON STOCKS (99.33%)
Australia (6.97%)
Beach Energy, Ltd.		641,243	$	624,817
BHP Group, Ltd.		26,967		745,963
BlueScope Steel, Ltd.		242,240		3,510,426
Champion Iron, Ltd.		213,815		878,096
Coronado Global Resources, Inc.^(a)(b)		572,669		539,275
Deterra Royalties, Ltd.		77,047		201,036
Evolution Mining, Ltd.		603,300		1,550,495
IGO, Ltd.		276,497		1,003,524
Iluka Resources, Ltd.		292,826		1,160,450
Incitec Pivot, Ltd.		60,093		115,928
Liontown Resources, Ltd.^(c)		128,153		79,615
Mineral Resources, Ltd.		10,379		368,417
Northern Star Resources, Ltd.		758,243		6,981,606
Paladin Energy, Ltd.^(c)		81,388		607,282
Perseus Mining, Ltd.		917,374		1,517,788
Pilbara Minerals, Ltd.		171,868		329,311
Sandfire Resources NL^(c)		9,956		56,643
Santos, Ltd.		11,526		60,224
South32, Ltd.		100,713		202,194
Woodside Energy Group, Ltd.		82,702		1,492,689
				22,025,779

Austria (0.51%)
OMV AG		19,092		799,632
voestalpine AG		31,621		809,690
				1,609,322

Brazil (0.92%)
Cia de Saneamento Basico do Estado de Sao Paulo SABESP, ADR		131,612		2,057,095
Petroleo Brasileiro SA, Sponsored ADR		60,329		860,895
				2,917,990

Canada (17.99%)
Advantage Energy, Ltd.^(c)		89,076		621,303
Agnico Eagle Mines, Ltd.		10,302		795,005
Agnico-Eagle Mines, Ltd.		59,309		4,576,242
Alamos Gold, Inc., Class A		93,093		1,585,374
ARC Resources, Ltd.		48,026		831,015
Athabasca Oil Corp.^(c)		123,153		504,868
B2Gold Corp.		774,219		2,322,657
Barrick Gold Corp.		52,849		978,235
Birchcliff Energy, Ltd.		53,983		234,207
Boralex, Inc., Class A		34,474		855,452
Canadian Natural Resources, Ltd.		42,247		1,499,980
Canfor Corp.^(c)		56,593		649,283
Capstone Copper Corp.^(c)		24,710		166,088
Cenovus Energy, Inc.		150,651		3,035,608
Centerra Gold, Inc.		226,378		1,518,314
Dundee Precious Metals, Inc.		141,584		1,196,744
Eldorado Gold Corp.^(c)		10,080		170,957
ERO Copper Corp.^(c)		23,713		463,732
First Quantum Minerals, Ltd.		52,508		642,730
Franco-Nevada Corp.		2,858		368,568

	Shares		Value (Note 2)
Canada (continued)
Freehold Royalties, Ltd.		73,266	$	751,419
Hudbay Minerals, Inc.		108,307		903,702
Imperial Oil, Ltd.		6,742		482,998
Innergex Renewable Energy, Inc.		79,524		546,614
Kinross Gold Corp.		77,082		698,363
Labrador Iron Ore Royalty Corp.		23,513		522,492
Lundin Gold, Inc.		55,299		957,264
Lundin Mining Corp.		78,115		788,703
MEG Energy Corp.		153,941		3,189,985
NexGen Energy, Ltd.^(c)		101,431		675,888
Northland Power, Inc.		187,816		3,141,036
Nutrien, Ltd.		9,964		511,028
NuVista Energy, Ltd.^(c)		108,407		1,049,797
Osisko Gold Royalties, Ltd.		34,510		605,305
Pan American Silver Corp.		50,828		1,168,027
Paramount Resources, Ltd., Class A		26,204		568,435
Parex Resources, Inc.		76,821		1,152,329
Peyto Exploration & Development Corp.		96,549		1,032,168
PrairieSky Royalty, Ltd.		48,226		969,305
Secure Energy Services, Inc.		91,267		805,812
Suncor Energy, Inc.		102,984		4,112,946
Tamarack Valley Energy, Ltd.		317,590		943,120
Topaz Energy Corp.		20,925		393,902
Torex Gold Resources, Inc.^(c)		91,070		1,443,901
Tourmaline Oil Corp.		32,083		1,411,685
Veren, Inc.		116,693		911,129
Vermilion Energy, Inc.		105,516		1,134,909
Wheaton Precious Metals Corp.		15,502		926,400
Whitecap Resources, Inc.		260,552		2,007,948
				56,822,972

Chile (0.09%)
Antofagasta PLC		11,418		296,503

China (3.32%)
China Longyuan Power Group Corp., Ltd.		2,075,904		1,865,241
China Mengniu Dairy Co., Ltd.		1,705,598		2,859,819
Daqo New Energy Corp., ADR^(c)		24,365		427,118
Flat Glass Group Co., Ltd.		548,016		794,018
Jiangxi Copper Co., Ltd.		339,528		597,108
Xinyi Solar Holdings, Ltd.		3,041,878		1,444,462
Zhaojin Mining Industry Co., Ltd.		716,786		1,282,587
Zijin Mining Group Co., Ltd.		603,608		1,225,318
				10,495,671

Colombia (0.16%)
Geopark, Ltd.		50,647		495,834

Denmark (2.48%)
FLSmidth & Co. A/S		8,878		452,951
Orsted AS^(a)(b)		68,064		4,051,029
Vestas Wind Systems A/S^(c)		134,947		3,331,892
				7,835,872

Finland (0.66%)
Metso Corporation^(c)		130,365		1,323,120
Outokumpu Oyj		207,822		748,069
				2,071,189

	Shares		Value (Note 2)
France (1.69%)
Eramet SA		6,650	$	565,322
Technip Energies NV		30,681		783,627
TotalEnergies SE, ADR		12,853		871,176
Veolia Environnement SA		75,317		2,367,106
Viridien^(c)		14,606		760,096
				5,347,327

Germany (2.67%)
Aurubis AG		16,474		1,284,580
Bayer AG		105,612		3,142,643
Encavis AG^(c)		38,496		708,260
K+S AG		154,530		1,995,176
Nordex SE^(c)		56,209		854,084
SMA Solar Technology AG		13,781		371,968
thyssenkrupp AG		17,684		67,731
				8,424,442

Great Britain (3.96%)
Anglo American PLC		40,932		1,236,569
Anglogold Ashanti PLC Sponsored		20,595		578,308
CNH Industrial NV		313,183		3,335,399
Drax Group PLC		116,124		968,098
Endeavour Mining PLC		78,315		1,723,253
Harbour Energy PLC		228,811		922,151
Rio Tinto PLC, Sponsored ADR		8,996		586,179
Severn Trent PLC		43,841		1,449,005
Subsea 7 SA		39,518		761,341
United Utilities Group PLC		71,031		943,269
				12,503,572

Israel (0.60%)
Delek Group, Ltd.		8,998		931,599
ICL Group, Ltd.		226,208		950,074
				1,881,673

Italy (2.08%)
Eni SpA, Sponsored ADR		599		19,198
Eni SpA		189,901		3,041,293
ERG SpA		28,997		768,860
Saipem SpA^(c)		1,148,134		2,729,925
				6,559,276

Japan (7.44%)
Daido Steel Co., Ltd.		25,907		261,223
Dowa Holdings Co., Ltd.		26,004		961,838
GS Yuasa Corp.		24,810		446,250
Inpex Corp.		147,831		2,295,350
Japan Petroleum Exploration Co., Ltd.		41,305		1,726,039
JFE Holdings, Inc.		155,036		2,287,170
Kobe Steel, Ltd.		23,016		289,765
Kubota Corp.		244,012		3,550,924
Kurita Water Industries, Ltd.		40,569		1,749,988
Mitsubishi Materials Corp.		52,311		983,679
Morinaga Milk Industry Co., Ltd.		38,062		917,726
NH Foods, Ltd.		29,292		972,978
Nisshin Seifun Group, Inc.		86,188		1,073,575
OSAKA Titanium Technologies Co., Ltd.		77,218		1,273,694
RENOVA, Inc.^(c)		132,934		813,728
SUMCO Corp.		71,439		1,189,100

	Shares		Value (Note 2)
Japan (continued)
Sumitomo Forestry Co., Ltd.		6,038	$	258,964
Sumitomo Metal Mining Co., Ltd.		16,340		502,836
Toho Titanium Co., Ltd.		105,216		969,950
Tokyo Steel Manufacturing Co., Ltd.		65,760		840,629
Yamato Kogyo Co., Ltd.		2,691		143,401
				23,508,807

Luxembourg (0.72%)
APERAM SA		20,225		547,651
ArcelorMittal SA		60,848		1,378,958
ArcelorMittal SA - NY Reg		14,871		339,951
				2,266,560

Malaysia (0.28%)
Lynas Rare Earths, Ltd.^(c)		217,048		891,373

Mexico (0.07%)
Grupo Mexico SAB de CV, Series B		41,083		231,049

Netherlands (1.01%)
AMG Critical Materials NV		30,028		508,591
Fugro N.V.		30,146		803,241
OCI N.V.		53,053		1,277,521
SBM Offshore N.V.		36,174		586,457
				3,175,810

Norway (4.95%)
Aker BP ASA		135,260		3,283,997
Aker Solutions ASA		83,533		399,267
Equinor ASA		178,747		4,751,035
Mowi ASA		73,315		1,237,752
Norsk Hydro ASA		450,235		2,492,456
Salmar ASA		18,335		1,055,339
TGS ASA		100,732		1,234,384
Var Energi ASA		364,605		1,163,597
				15,617,827

Peru (0.03%)
Cia de Minas Buenaventura SAA, ADR		6,320		97,960

South Africa (1.80%)
African Rainbow Minerals, Ltd.		113,302		1,343,760
Anglo American Platinum, Ltd.		9		349
Gold Fields, Ltd., Sponsored ADR		95,969		1,646,828
Impala Platinum Holdings, Ltd.		191,614		980,559
Kumba Iron Ore, Ltd.		23,873		520,769
Northam Platinum Holdings, Ltd.		153,841		1,205,049
				5,697,314

Spain (1.48%)
Acerinox SA		44,047		461,921
Corp ACCIONA Energias Renovables SA		64,371		1,354,995
Fluidra SA		39,250		874,205
Iberdrola SA		97,751		1,288,536
Repsol SA		49,241		702,111
				4,681,768

	Shares		Value (Note 2)
Sweden (1.20%)
AAK AB		17,084	$	491,341
Boliden AB		13,995		426,808
Epiroc AB		51,071		953,778
Holmen AB		18,232		716,396
SSAB AB, Class A		230,607		1,188,651
				3,776,974

Switzerland (0.14%)
Bucher Industries AG		1,071		434,379

United States (36.11%)
AGCO Corp.		29,416		2,777,459
Albemarle Corp.		2,102		196,894
Alcoa Corp.		47,772		1,578,387
American Water Works Co., Inc.		19,394		2,760,930
Antero Resources Corp.^(c)		2,690		78,064
APA Corp.		9,319		290,660
Archer-Daniels-Midland Co.		63,399		3,931,372
Archrock, Inc.		23,820		493,789
Array Technologies, Inc.^(c)		78,838		829,376
ATI, Inc.^(c)		31,890		2,159,272
Baker Hughes Co.		61,448		2,379,267
Brookfield Renewable Corp.		5,881		165,256
Bunge Global SA		22,227		2,338,947
California Water Service Group		22,126		1,182,856
CF Industries Holdings, Inc.		2,948		225,198
ChampionX Corp.		60,901		2,086,468
Chevron Corp.		1,390		223,053
Chord Energy Corp.		7,679		1,318,177
Civitas Resources, Inc.		20,974		1,463,146
Cleveland-Cliffs, Inc.^(c)		11,154		171,214
CNX Resources Corp.^(c)		38,470		1,018,301
Coeur Mining, Inc.^(c)		286,781		1,861,208
Commercial Metals Co.		8,930		536,693
Compass Minerals International, Inc.		53,875		716,538
ConocoPhillips		25,916		2,881,859
Corteva, Inc.		55,918		3,137,000
Coterra Energy, Inc.		44,482		1,147,636
Crescent Energy Co.		59,219		724,248
Darling Ingredients, Inc.^(c)		98,995		3,933,071
Deere & Co.		9,077		3,376,462
Devon Energy Corp.		51,791		2,435,731
Diamondback Energy, Inc.		1,669		337,655
Enphase Energy, Inc.^(c)		3,327		382,971
EOG Resources, Inc.		17,938		2,274,538
EQT Corp.		3,039		104,876
Expro Group Holdings NV^(c)		46,283		1,074,691
Exxon Mobil Corp.		3,395		402,613
FMC Corp.		45,143		2,634,545
Freeport-McMoRan, Inc.		59,839		2,717,288
Halliburton Co.		64,141		2,224,410
Hecla Mining Co.		236,640		1,367,779
Helix Energy Solutions Group, Inc.^(c)		62,583		738,479
Helmerich & Payne, Inc.		84,371		3,410,277
Hess Corp.		1,200		184,104
Hormel Foods Corp.		79,954		2,567,323
Ingredion, Inc.		32,927		4,095,131
Kosmos Energy, Ltd.^(c)		45,973		254,231
Liberty Energy, Inc., Class A		74,978		1,810,719

	Shares		Value (Note 2)
United States (continued)
Magnolia Oil & Gas Corp., Class A		15,539	$	423,282
Matador Resources Co.		22,872		1,406,171
Metallus, Inc.^(c)		10,641		238,571
Mosaic Co.		9,094		270,728
MP Materials Corp.^(c)		13,905		187,996
Murphy Oil Corp.		77,046		3,188,163
Nabors Industries, Ltd.^(c)		14,676		1,509,133
National Fuel Gas Co.		3,142		184,090
National Oilwell Varco, Inc.		52,784		1,098,963
Newmont Corp.		10,043		492,810
Newmont Corp. - CDI		4,338		208,933
Noble Corp. PLC		43,320		2,045,570
NOW, Inc.^(c)		61,286		941,353
Occidental Petroleum Corp.		2,875		174,858
Oceaneering International, Inc.^(c)		35,830		1,075,617
Patterson-UTI Energy, Inc.		106,661		1,172,204
Permian Resources Corp.		29,346		450,168
Pilgrim's Pride Corp.^(c)		78,973		3,256,057
ProPetro Holding Corp.^(c)		151,705		1,454,851
Range Resources Corp.		3,425		106,963
Royal Gold, Inc.		5,230		722,368
RPC, Inc.		168,783		1,260,809
Ryerson Holding Corp.		10,097		240,208
SandRidge Energy, Inc.		61,548		836,437
Schlumberger NV		53,020		2,560,336
Select Water Solutions, Inc.		69,510		821,608
Shoals Technologies Group, Inc., Class A^(c)		379,838		2,468,947
SM Energy Co.		4,566		210,949
Southern Copper Corp.		1,418		151,173
Steel Dynamics, Inc.		1,572		209,422
SunCoke Energy, Inc.		47,570		556,569
Tidewater, Inc.^(c)		1,324		131,023
Transocean, Ltd.^(c)		32,295		186,988
Tyson Foods, Inc., Class A		78,552		4,783,817
United States Steel Corp.		44,605		1,832,819
US Silica Holdings, Inc.^(c)		88,270		1,367,302
VAALCO Energy, Inc.		112,460		805,214
				114,032,632

TOTAL COMMON STOCKS
(Cost $288,497,186)				313,699,875

	Shares		Value (Note 2)
MASTER LIMITED PARTNERSHIPS (0.43%)
United States (0.43%)
Black Stone Minerals LP		53,182		799,857
Viper Energy, Inc.		12,870		549,163
				1,349,020

TOTAL MASTER LIMITED PARTNERSHIPS
(Cost $1,312,499)				1,349,020

	7-Day Yield			Shares		Value (Note 2)
SHORT TERM INVESTMENTS (0.22%)
Money Market Fund (0.22%)
BlackRock Liquidity Funds Treasury Trust Fund Portfolio		5.219	%		699,080	$	699,080

TOTAL SHORT TERM INVESTMENTS
(Cost $699,080)							699,080

TOTAL INVESTMENTS (99.98%)
(Cost $290,508,765)						$	315,747,975

Other Assets In Excess Of Liabilities (0.02%)							47,888
NET ASSETS - 100.00%						$	315,795,863

^(a)	Securities 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. As of July 31, 2024, the market value of those securities was $4,590,304, representing 1.45% of the Fund's net assets.
^(b)	Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under guidelines utilized by the Valuation Designee. As of July 31, 2024 the aggregate market value of those securities was $4,590,304, representing 1.45% of net assets.
^(c)	Non-Income Producing Security.

See Notes to Quarterly Statement of Investments.

Notes to Quarterly Statements of Investments

July 31, 2024 (Unaudited)

1. ORGANIZATION

Financial Investors Trust (the “Trust”), a Delaware statutory trust, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust consists of multiple separate portfolios or series. This report includes the statements of investments of the ALPS | CoreCommodity Natural Resources ETF (the “Fund”), which commenced operations on July 11, 2024. The Fund seeks to maximize real returns, consistent with prudent investment management.

Shares of the Fund are listed on the NASDAQ Stock Market LLC (“NASDAQ”). The Fund’s Net Asset Value (“NAV”) is determined daily, as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern Time, on each day the NYSE is open for trading. The NAV is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund is considered an investment company for financial reporting purposes, and follows accounting policies in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), including policies specific to investment companies. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets during the reporting period. Actual results could differ from those estimates. The following is a summary of significant accounting policies consistently followed by the Fund, as applicable, in preparation of the financial statements. The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 946 "Financial Services – Investment Companies”.

Investment Valuation: The Fund generally values its securities based on market prices determined at the close of regular trading on the NYSE, normally 4:00 p.m. Eastern Time, on each day the NYSE is open for trading. For equity securities and mutual funds that are traded on an exchange, the market price is usually the closing sale or official closing price on that exchange.

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Trust’s Board of Trustees (the “Board” or “Trustees”) has appointed ALPS Advisors, Inc. (the “Adviser”) to serve as the valuation designee (the “Valuation Designee”) to perform fair value determinations for investments in the Fund. When such prices or quotations are not available, or when the Valuation Designee appointed by the Board believes that they are unreliable, securities may be priced using fair value procedures utilized by the Valuation Designee. The fair valuation policies and procedures (“FV Procedures”) are utilized by the Valuation Designee for the fair valuation of portfolio assets held by the Fund in the event that (1) market quotations for the current price of a portfolio security or asset are not readily available, or (2) available market quotations that would otherwise be used to value a portfolio security or asset in accordance with the Fund’s Pricing Procedures appear to be unreliable. The Pricing Procedures reflect certain pricing methodologies (or “logics”) that are not “readily available market quotations” and thus are viewed and treated as fair valuations. The Valuation Designee routinely meets to discuss fair valuations of portfolio securities and other instruments held by the Fund.

Fair Value Measurements: The Fund discloses the classification of its fair value measurements following a three-tier hierarchy based on the inputs used to measure fair value. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available.

Various inputs are used in determining the value of the Fund’s investments as of the end of the reporting period. When inputs used fall into different levels of the fair value hierarchy, the level in the hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The designated input levels are not necessarily an indication of the risk or liquidity associated with these investments. These inputs are categorized in the following hierarchy under applicable financial accounting standards:

Level 1 –

Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date;

Level 2 –

Level 3 –

The following is a summary of the Fund’s investments/financial instruments in the fair value hierarchy as of July 31, 2024:

Investments in Securities at Value	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ALPS \| CoreCommodity Natural Resources ETF
Common Stocks^(a)	$	313,699,875	$	–	$	–	$	313,699,875
Master Limited Partnerships^(a)		1,349,020		–		–		1,349,020
Short Term Investments		699,080		–		–		699,080
Total	$	315,747,975	$	–	$	–	$	315,747,975

^(a)

For detailed descriptions of country, see the accompanying Statement of Investments.

The Fund did not have any securities that used significant unobservable inputs (Level 3) in determining fair value during the period ended July 31, 2024.

Federal Income Taxes: The Fund complies with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to regulated investment companies and intend to distribute substantially all of its net taxable income and net capital gains, if any, each year. The Fund is not subject to income taxes to the extent such distributions are made.

The Fund files U.S. federal, state, and local tax returns as required. The Fund’s tax returns are subject to examination by the relevant tax authorities until expiration of the applicable statute of limitations which is generally three years after the filing of the tax return, but may extend to four years in certain jurisdictions. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes.

Distributions to Shareholders: The Fund normally pays dividends and distributes capital gains, if any, on an annual basis. Income dividend distributions are derived from interest, dividends, and other income the Fund receives from its investments, including distributions of short-term capital gains, if any. Capital gain distributions are derived from gains realized when the Fund sells a security it has owned for more than a year or from long-term capital gain distributions from underlying investments. The Fund may make additional distributions and dividends at other times if its portfolio manager or managers believe doing so may be necessary for the Fund to avoid or reduce taxes.

Investment Transactions and Investment Income: Investment transactions are accounted for on the date the investments are purchased or sold (trade date basis). Net realized gains and losses from investment transactions are reported on an identified cost basis. Dividend income is recognized on the ex-dividend date or for certain foreign securities, as soon as information is available to the Fund.

Foreign Securities: The Fund may directly purchase securities of foreign issuers. Investing in securities of foreign issuers involves special risks not typically associated with investing in securities of U.S. issuers. The risks include possible reevaluation of currencies, the inability to repatriate foreign currency, less complete financial information about companies and possible future adverse political and economic developments.

Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than those of securities of comparable U.S. issuers.

Foreign Currency Spot Contracts: The Fund may enter into foreign currency spot contracts to facilitate transactions in foreign securities or to convert foreign currency receipts into U.S. dollars. A foreign currency spot contract is an agreement between two parties to buy and sell currencies at the current market rate, for settlement generally within two business days. The U.S. dollar value of the contracts is determined using current currency exchange rates supplied by a pricing service. The contract is marked-to-market daily for settlements beyond one day and any change in market value is recorded as an unrealized gain or loss. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value on the open and close date. Losses may arise from changes in the value of the foreign currency, or if the counterparties do not perform under the contract’s terms. The maximum potential loss from such contracts is the aggregate face value in U.S. dollars at the time the contract was opened.

Master Limited Partnerships (“MLPs”): The Fund may invest in MLPs, which are publicly traded partnerships engaged in the transportation, storage and processing of minerals and natural resources. By confining their operations to these specific activities, their interests, or units, are able to trade on public securities exchanges exactly like the shares of a corporation, without entity level taxation. To qualify as a MLP and to not be taxed as a corporation, a partnership must receive at least 90% of its income from qualifying sources as set forth in Section 7704(d) of the Code. These qualifying sources include natural resource based activities such as the processing, transportation and storage of mineral or natural resources. MLPs generally have two classes of owners, the general partner and limited partners. The general partner of an MLP is typically owned by a major energy company, an investment fund, the direct management of the MLP, or is an entity owned by one or more of such parties. The general partner may be structured as a private or publicly traded corporation or other entity. The general partner typically controls the operations and management of the MLP through an up to 2% equity interest in the MLP plus, in many cases, ownership of common units and subordinated units. Limited partners typically own the remainder of the partnership, through ownership of common units, and have a limited role in the partnership’s operations and management. MLPs are typically structured such that common units and general partner interests have first priority to receive quarterly cash distributions up to an established minimum amount (“minimum quarterly distributions” or “MQD”). Common and general partner interests also accrue arrearages in distributions to the extent the MQD is not paid. Once common and general partner interests have been paid, subordinated units receive distributions of up to the MQD; however, subordinated units do not accrue arrearages. Distributable cash in excess of the MQD is paid to both common and subordinated units and is distributed to both common and subordinated units generally on a pro rata basis. The general partner is also eligible to receive incentive distributions if the general partner operates the business in a manner which results in distributions paid per common unit surpassing specified target levels. As the general partner increases cash distributions to the limited partners, the general partner receives an increasingly higher percentage of the incremental cash distributions.

Financial Investors Trust NPORT-PALPS | Smith Total Return Bond Fund (Jul 2024 report)