Loomis Sayles Funds I NPORT-P Loomis Sayles Fixed Income Fund (Jun 2022 report)

PORTFOLIO OF INVESTMENTS – as of June 30, 2022 (Unaudited)

Loomis Sayles Fixed Income Fund

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – 82.4% of Net Assets
	Non-Convertible Bonds – 78.0%
		ABS Car Loan – 3.8%
$	675,000	American Credit Acceptance Receivables Trust, Series 2021-3, Class D, 1.340%, 11/15/2027, 144A	$	629,665
	85,000	Avis Budget Rental Car Funding AESOP LLC, Series 2017-1A, Class C, 4.150%, 9/20/2023, 144A		85,019
	120,000	Avis Budget Rental Car Funding AESOP LLC, Series 2018-1A, Class C, 4.730%, 9/20/2024, 144A		118,709
	130,000	Avis Budget Rental Car Funding AESOP LLC, Series 2019-2A, Class C, 4.240%, 9/22/2025, 144A		127,074
	475,000	Avis Budget Rental Car Funding AESOP LLC, Series 2019-3A, Class C, 3.150%, 3/20/2026, 144A		443,187
	210,000	Avis Budget Rental Car Funding AESOP LLC, Series 2020-1A, Class B, 2.680%, 8/20/2026, 144A		195,255
	685,000	Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class A, 2.020%, 2/20/2027, 144A		629,164
	305,000	Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class B, 2.960%, 2/20/2027, 144A		286,181
	630,000	Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class C, 4.250%, 2/20/2027, 144A		609,063
	145,000	Avis Budget Rental Car Funding AESOP LLC, Series 2021-1A, Class C, 2.130%, 8/20/2027, 144A		127,396
	100,000	CarMax Auto Owner Trust, Series 2022-1, Class D, 2.470%, 7/17/2028		92,969
	480,000	Carvana Auto Receivables Trust, Series 2021-N3, Class C, 1.020%, 6/12/2028		461,189
	420,000	Carvana Auto Receivables Trust, Series 2021-P3, Class C, 1.930%, 10/12/2027		364,334
	525,000	Credit Acceptance Auto Loan Trust, Series 2020-2A, Class C, 2.730%, 11/15/2029, 144A		506,957
	900,000	Credit Acceptance Auto Loan Trust, Series 2021-2A, Class C, 1.640%, 6/17/2030, 144A		814,542
	335,000	Credit Acceptance Auto Loan Trust, Series 2021-3A, Class C, 1.630%, 9/16/2030, 144A		307,039
	1,400,000	Drive Auto Receivables Trust, Series 2021-2, Class D, 1.390%, 3/15/2029		1,287,733
	305,000	DT Auto Owner Trust, Series 2021-2A, Class C, 1.500%, 2/16/2027, 144A		281,420
	1,380,000	DT Auto Owner Trust, Series 2021-3A, Class D, 1.310%, 5/17/2027, 144A		1,250,108
	815,000	Exeter Automobile Receivables Trust, Series 2021-1A, Class D, 1.080%, 11/16/2026		763,728
	1,000,000	Exeter Automobile Receivables Trust, Series 2021-3A, Class D, 1.550%, 6/15/2027		936,118
	100,000	Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.560%, 7/17/2028		95,014
	435,000	Flagship Credit Auto Trust, Series 2021-2, Class D, 1.590%, 6/15/2027, 144A		396,112
	335,000	Foursight Capital Automobile Receivables Trust, Series 2021-2, Class D, 1.920%, 9/15/2027, 144A		307,996
	1,975,000	GLS Auto Receivables Issuer Trust, Series 2021-1A, Class D, 1.680%, 1/15/2027, 144A		1,869,060

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		ABS Car Loan – continued
$	675,000	GLS Auto Receivables Issuer Trust, Series 2021-3A, Class D, 1.480%, 7/15/2027, 144A	$	610,273
	725,000	GLS Auto Receivables Trust, Series 2021-2A, Class D, 1.420%, 4/15/2027, 144A		662,774
	685,000	Hertz Vehicle Financing III LLC, Series 2022-1 1A, Class D, 4.850%, 6/25/2026, 144A		612,669
	599,000	Hertz Vehicle Financing III LLC, Series 2022-3 3A, Class D, 6.310%, 3/25/2025, 144A		574,824
	186,824	JPMorgan Chase Bank NA, Series 2021-1, Class D, 1.174%, 9/25/2028, 144A		180,608
	168,276	JPMorgan Chase Bank NA, Series 2021-3, Class D, 1.009%, 2/26/2029, 144A		161,338
	212,254	Santander Bank NA, Series 2021-1A, Class B, 1.833%, 12/15/2031, 144A		206,275
				15,993,793
		ABS Credit Card – 0.3%
	480,000	Brex Commercial Charge Card Master Trust, Series 2021-1, Class A, 2.090%, 7/15/2024, 144A		470,744
	700,000	Mercury Financial Credit Card Master Trust, Series 2021-1A, Class A, 1.540%, 3/20/2026, 144A		666,016
	100,000	Mission Lane Credit Card Master Trust, Series 2021-A, Class B, 2.240%, 9/15/2026, 144A		96,504
				1,233,264
		ABS Home Equity – 4.9%
	1,030,670	510 Asset Backed Trust, Series 2021-NPL1, Class A1, 2.240%, 6/25/2061, 144A(a)		987,134
	561,742	CIM Trust, Series 2021-NR2, Class A1, 2.568%, 7/25/2059, 144A(a)		534,764
	210,000	CoreVest American Finance Trust, Series 2021-1, Class C, 2.800%, 4/15/2053, 144A		174,351
	300,000	CoreVest American Finance Trust, Series 2021-2, Class C, 2.478%, 7/15/2054, 144A		239,496
	150,000	CoreVest American Finance Trust, Series 2021-3, Class D, 3.469%, 10/15/2054, 144A		123,822
	594,024	Credit Suisse Mortgage Trust, Series 2021-RPL1, Class A1, 1.668%, 9/27/2060, 144A(a)		562,187
	1,388,939	Credit Suisse Mortgage Trust, Series 2021-RPL4, Class A1, 1.796%, 12/27/2060, 144A(a)		1,315,181
	323,940	Federal Home Loan Mortgage Corp., Series 2022-DNA3, Class M1A, 30-day Average SOFR + 2.000%, 2.926%, 4/25/2042, 144A(b)		318,854
	675,000	FirstKey Homes Trust, Series 2021-SFR1, Class E1, 2.389%, 8/17/2038, 144A		586,351
	315,000	FirstKey Homes Trust, Series 2021-SFR2, Class E1, 2.258%, 9/17/2038, 144A		271,905
	205,000	FirstKey Homes Trust, Series 2021-SFR2, Class E2, 2.358%, 9/17/2038, 144A		174,633
	300,000	FirstKey Homes Trust, Series 2022- SFR2, Class D, 4.500%, 7/17/2039, 144A		280,102
	145,000	FRTKL, Series 2021-SFR1, Class E1, 2.372%, 9/17/2038, 144A		126,015

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		ABS Home Equity – continued
$	130,000	FRTKL, Series 2021-SFR1, Class E2, 2.522%, 9/17/2038, 144A	$	112,602
	365,899	GCAT Trust, Series 2019-RPL1, Class A1, 2.650%, 10/25/2068, 144A(a)		351,589
	90,714	Home Partners of America Trust, Series 2021-1, Class E, 2.577%, 9/17/2041, 144A		76,297
	814,889	Home Partners of America Trust, Series 2021-2, Class E1, 2.852%, 12/17/2026, 144A		717,611
	422,172	Home Partners of America Trust, Series 2021-2, Class E2, 2.952%, 12/17/2026, 144A		367,365
	148,857	Legacy Mortgage Asset Trust, Series 2020-GS5, Class A1, 3.250%, 6/25/2060, 144A(a)		146,546
	1,215,000	Legacy Mortgage Asset Trust, Series 2020-RPL1, Class A2, 3.250%, 9/25/2059, 144A(a)(c)		1,115,534
	645,941	Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.750%, 4/25/2061, 144A(a)		605,540
	115,000	Mill City Mortgage Loan Trust, Series 2019-GS1, Class M2, 3.250%, 7/25/2059, 144A(a)		106,392
	705,000	Progress Residential Trust, Series 2021-SFR2, Class E1, 2.547%, 4/19/2038, 144A		625,010
	240,000	Progress Residential Trust, Series 2021-SFR3, Class E1, 2.538%, 5/17/2026, 144A		208,922
	200,000	Progress Residential Trust, Series 2021-SFR3, Class E2, 2.688%, 5/17/2026, 144A		173,443
	125,000	Progress Residential Trust, Series 2021-SFR4, Class E1, 2.409%, 5/17/2038, 144A		111,342
	100,000	Progress Residential Trust, Series 2021-SFR4, Class E2, 2.559%, 5/17/2038, 144A		88,472
	295,000	Progress Residential Trust, Series 2021-SFR5, Class E1, 2.209%, 7/17/2038, 144A		255,069
	100,000	Progress Residential Trust, Series 2021-SFR5, Class E2, 2.359%, 7/17/2038, 144A		86,026
	380,000	Progress Residential Trust, Series 2021-SFR6, Class E1, 2.425%, 7/17/2038, 144A		328,029
	200,000	Progress Residential Trust, Series 2021-SFR6, Class E2, 2.525%, 7/17/2038, 144A		171,302
	340,000	Progress Residential Trust, Series 2021-SFR7, Class E1, 2.591%, 8/17/2040, 144A		279,590
	100,000	Progress Residential Trust, Series 2021-SFR7, Class E2, 2.640%, 8/17/2040, 144A		80,095
	1,028,208	PRPM LLC, Series 2021-1, Class A1, 2.115%, 1/25/2026, 144A(a)		976,667
	405,475	PRPM LLC, Series 2021-2, Class A1, 2.115%, 3/25/2026, 144A(a)		387,725
	784,029	PRPM LLC, Series 2021-3, Class A1, 1.867%, 4/25/2026, 144A(a)		739,165
	194,222	PRPM LLC, Series 2021-4, Class A1, 1.867%, 4/25/2026, 144A(a)		182,465
	925,031	PRPM LLC, Series 2021-5, Class A1, 1.793%, 6/25/2026, 144A(a)		865,666
	1,030,000	Toorak Mortgage Corp., Series 2021-1, Class A1, 2.240%, 6/25/2024, 144A(a)		965,055

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		ABS Home Equity – continued
$	240,000	Towd Point Mortgage Trust, Series 2016-3, Class M2, 4.000%, 4/25/2056, 144A(a)	$	236,069
	495,000	Towd Point Mortgage Trust, Series 2018-5, Class M1, 3.250%, 7/25/2058, 144A(a)		425,014
	744,170	Towd Point Mortgage Trust, Series 2019-4, Class A1, 2.900%, 10/25/2059, 144A(a)(c)		720,557
	100,000	Towd Point Mortgage Trust, Series 2020-1, Class A2B, 3.250%, 1/25/2060, 144A(a)		89,056
	305,562	VCAT LLC, Series 2021-NPL1, Class A1, 2.289%, 12/26/2050, 144A(a)		294,189
	312,754	VOLT XCII LLC, Series 2021-NPL1, Class A1, 1.893%, 2/27/2051, 144A(a)		296,845
	815,269	VOLT XCIII LLC, Series 2021-NPL2, Class A1, 1.893%, 2/27/2051, 144A(a)		772,318
	688,713	VOLT XCIV LLC, Series 2021-NPL3, Class A1, 2.240%, 2/27/2051, 144A(a)		654,149
	489,191	VOLT XCVI LLC, Series 2021-NPL5, Class A1, 2.116%, 3/27/2051, 144A(a)		466,893
	1,085,635	VOLT XCVII LLC, Series 2021-NPL6, Class A1, 2.240%, 4/25/2051, 144A(a)		1,032,212
				20,805,616
		ABS Other – 2.9%
	100,000	Affirm Asset Securitization Trust, Series 2021-B, Class C, 1.400%, 8/17/2026, 144A		90,752
	160,000	Aqua Finance Trust, Series 2021-A, Class B, 2.400%, 7/17/2046, 144A		136,732
	119,286	Business Jet Securities LLC, Series 2021-1A, Class B, 2.918%, 4/15/2036, 144A		106,575
	795,919	CAL Funding IV Ltd., Series 2020-1A, Class A, 2.220%, 9/25/2045, 144A		717,512
	1,204,170	CLI Funding VIII LLC, Series 2021-1A, Class A, 1.640%, 2/18/2046, 144A		1,061,981
	135,000	Freedom Financial Trust, Series 2021-2, Class C, 1.940%, 6/19/2028, 144A		130,765
	370,000	Freedom Financial Trust, Series 2021-3FP, Class D, 2.370%, 11/20/2028, 144A		330,948
	300,000	HPEFS Equipment Trust, Series 2021-1A, Class D, 1.030%, 3/20/2031, 144A		281,223
	1,813,892	MAPS Trust, Series 2021-1A, Class A, 2.521%, 6/15/2046, 144A(c)		1,579,112
	110,000	Marlette Funding Trust, Series 2021-2A, Class C, 1.500%, 9/15/2031, 144A		102,450
	205,788	Merlin Aviation Holdings DAC, Series 2016-1, Class A, 4.500%, 12/15/2032, 144A(a)		165,238
	350,000	OneMain Financial Issuance Trust, Series 2018-2A, Class A, 3.570%, 3/14/2033, 144A		344,074
	345,000	OneMain Financial Issuance Trust, Series 2021-1A, Class D, 2.470%, 6/16/2036, 144A		291,203
	380,000	OneMain Financial Issuance Trust, Series 2022-S1, Class D, 5.200%, 5/14/2035, 144A		372,051

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		ABS Other – continued
$	1,423,547	S-Jets Ltd., Series 2017-1, Class A, 3.967%, 8/15/2042, 144A	$	1,250,310
	100,000	SCF Equipment Leasing LLC, Series 2021-1A, Class D, 1.930%, 9/20/2030, 144A		90,316
	178,246	Sierra Timeshare Receivables Funding LLC, Series 2019-2A, Class C, 3.120%, 5/20/2036, 144A		170,989
	120,335	Sierra Timeshare Receivables Funding LLC, Series 2019-3A, Class C, 3.000%, 8/20/2036, 144A		114,785
	106,305	Sierra Timeshare Receivables Funding LLC, Series 2021-1A, Class C, 1.790%, 11/20/2037, 144A		98,756
	1,326,563	SLAM Ltd., Series 2021-1A, Class A, 2.434%, 6/15/2046, 144A(c)		1,138,509
	100,000	SoFi Consumer Loan Program Trust, Series 2021-1, Class D, 2.040%, 9/25/2030, 144A		92,174
	676,558	TIF Funding II LLC, Series 2021-1A, Class A, 1.650%, 2/20/2046, 144A		581,886
	230,000	Towd Point Mortgage Trust, Series 2011-1, Class M1, 3.750%, 10/25/2056, 144A(a)		223,063
	1,300,406	Triton Container Finance VIII LLC, Series 2021-1A, Class A, 1.860%, 3/20/2046, 144A		1,135,003
	698,353	Wave Trust, Series 2017-1A, Class A, 3.844%, 11/15/2042, 144A		626,924
	1,173,917	Willis Engine Structured Trust, Series 2021-A, Class A, 3.104%, 5/15/2046, 144A		928,712
				12,162,043
		ABS Student Loan – 0.8%
	320,000	College Ave Student Loans LLC, Series 2021-A, Class C, 2.920%, 7/25/2051, 144A		292,426
	278,437	Commonbond Student Loan Trust, Series 2019-AGS, Class B, 3.040%, 1/25/2047, 144A		256,907
	256,001	EDvestinU Private Education Loan Issue No. 3 LLC, Series 2021-A, Class A, 1.800%, 11/25/2045, 144A		225,202
	111,023	Navient Private Education Refi Loan Trust, Series 2020-HA, Class A, 1.310%, 1/15/2069, 144A		103,478
	271,938	Navient Private Education Refi Loan Trust, Series 2021-A, Class A, 0.840%, 5/15/2069, 144A		248,911
	100,000	Navient Private Education Refi Loan Trust, Series 2021-A, Class B, 2.240%, 5/15/2069, 144A		83,080
	170,000	Navient Private Education Refi Loan Trust, Series 2021-EA, Class B, 2.030%, 12/16/2069, 144A		139,098
	385,000	Navient Private Education Refi Loan Trust, Series 2021-FA, Class B, 2.120%, 2/18/2070, 144A		294,075
	304,229	SMB Private Education Loan Trust, Series 2016-C, Class A2A, 2.340%, 9/15/2034, 144A		295,188
	77,882	SMB Private Education Loan Trust, Series 2020-A, Class A2A, 2.230%, 9/15/2037, 144A		74,338
	1,002,754	SMB Private Education Loan Trust, Series 2021-A, Class A2A2, 1-month LIBOR + 0.730%, 2.054%, 1/15/2053, 144A(b)(c)		974,608
	475,000	SMB Private Education Loan Trust, Series 2021-B, Class B, 2.650%, 7/17/2051, 144A		404,096
				3,391,407

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		ABS Whole Business – 0.6%
$	57,450	Domino’s Pizza Master Issuer LLC, Series 2017-1A, Class A23, 4.118%, 7/25/2047, 144A	$	54,895
	135,100	Domino’s Pizza Master Issuer LLC, Series 2018-1A, Class A2II, 4.328%, 7/25/2048, 144A		130,832
	1,559,250	Domino’s Pizza Master Issuer LLC, Series 2021-1A, Class A2I, 2.662%, 4/25/2051, 144A		1,359,103
	297,000	Hardee’s Funding LLC, Series 2021-1A, Class A2, 2.865%, 6/20/2051, 144A		254,266
	262,625	Wendy’s Funding LLC, Series 2018-1A, Class A2II, 3.884%, 3/15/2048, 144A		247,371
	678,150	Wendy’s Funding LLC, Series 2021-1A, Class A2I, 2.370%, 6/15/2051, 144A		574,801
				2,621,268
		Aerospace & Defense – 1.1%
	2,530,000	Boeing Co. (The), 3.825%, 3/01/2059		1,629,959
	335,000	Boeing Co. (The), 5.805%, 5/01/2050		307,688
	1,265,000	Embraer Netherlands Finance BV, 5.400%, 2/01/2027		1,198,305
	807,000	Leonardo U.S. Holdings, Inc., 6.250%, 1/15/2040, 144A(d)(e)		817,532
	722,000	Leonardo U.S. Holdings, Inc., 7.375%, 7/15/2039, 144A		818,098
				4,771,582
		Airlines – 1.2%
	367,387	American Airlines Pass Through Trust, Series 2016-3, Class B, 3.750%, 4/15/2027		318,470
	1,219,631	American Airlines Pass Through Trust, Series 2017-1B, Class B, 4.950%, 8/15/2026		1,128,908
	774,248	American Airlines Pass Through Trust, Series 2017-2, Class B, 3.700%, 4/15/2027		689,124
	429,514	U.S. Airways Pass Through Trust, Series 2012-1A, Class A, 5.900%, 4/01/2026		428,116
	1,118,192	U.S. Airways Pass Through Trust, Series 2012-2A, Class A, 4.625%, 12/03/2026		1,027,953
	1,040,265	United Airlines Pass Through Trust, Series 2014-1, Class A, 4.000%, 10/11/2027		979,000
	533,510	United Airlines Pass Through Trust, Series 2020-1, Class A, 5.875%, 4/15/2029		524,334
				5,095,905
		Automotive – 1.4%
	1,900,000	Ford Motor Co., 3.250%, 2/12/2032		1,421,010
	805,000	Ford Motor Credit Co. LLC, 3.625%, 6/17/2031		623,875
	1,735,000	General Motors Co., 5.200%, 4/01/2045		1,457,306

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Automotive – continued
$	185,000	General Motors Co., 6.250%, 10/02/2043	$	176,247
	2,270,000	General Motors Financial Co., Inc., 3.600%, 6/21/2030		1,961,309
	60,000	General Motors Financial Co., Inc., Series A, (fixed rate to 9/30/2027, variable rate thereafter), 5.750%(f)		50,250
	100,000	General Motors Financial Co., Inc., Series C, (fixed rate to 9/30/2030, variable rate thereafter), 5.700%(f)		87,000
				5,776,997
		Banking – 4.5%
	1,146,000	Ally Financial, Inc., 8.000%, 11/01/2031		1,273,968
	1,585,000	Ally Financial, Inc., Series B, (fixed rate to 5/15/2026, variable rate thereafter), 4.700%(f)		1,256,929
	1,500,000	Ally Financial, Inc., Series C, (fixed rate to 5/15/2028, variable rate thereafter), 4.700%(f)		1,106,625
	3,340,000	Bank of America Corp., 6.110%, 1/29/2037(c)		3,592,792
	915,000	Barclays PLC, (fixed rate to 11/24/2026, variable rate thereafter), 2.279%, 11/24/2027(c)		811,159
	1,125,000	Barclays PLC, (fixed rate to 3/15/2028, variable rate thereafter), 4.375%(f)		862,721
	1,175,000	BNP Paribas S.A., (fixed rate to 1/20/2027, variable rate thereafter), 2.591%, 1/20/2028, 144A		1,056,896
	2,250,000	Citigroup, Inc., (fixed rate to 1/25/2025, variable rate thereafter), 2.014%, 1/25/2026		2,107,816
	685,000	Credit Agricole S.A., 3.250%, 1/14/2030, 144A		586,408
	495,000	Credit Agricole S.A., (fixed rate to 1/10/2028, variable rate thereafter), EMTN, 4.000%, 1/10/2033		452,167
	370,000	Deutsche Bank AG, (fixed rate to 10/07/2031, variable rate thereafter), 3.742%, 1/07/2033		269,325
	1,202,000	Deutsche Bank AG, (fixed rate to 10/14/2030, variable rate thereafter), 3.729%, 1/14/2032		903,650
	235,000	Deutsche Bank AG, (fixed rate to 12/01/2027, variable rate thereafter), 4.875%, 12/01/2032		202,087
	2,260,000	Goldman Sachs Group, Inc. (The), (fixed rate to 1/24/2024, variable rate thereafter), 1.757%, 1/24/2025		2,172,560
	290,000	Intesa Sanpaolo SpA, (fixed rate to 6/01/2031, variable rate thereafter), 4.198%, 6/01/2032, 144A		213,930
	1,495,000	Morgan Stanley, (fixed rate to 1/21/2027, variable rate thereafter), 2.475%, 1/21/2028		1,359,018
	530,000	NatWest Group PLC, (fixed rate to 9/30/2027, variable rate thereafter), 5.516%, 9/30/2028		533,775
	200,000	UniCredit SpA, (fixed rate to 6/03/2026, variable rate thereafter), 1.982%, 6/03/2027, 144A		172,774
	200,000	UniCredit SpA, (fixed rate to 6/19/2027, variable rate thereafter), 5.861%, 6/19/2032, 144A		176,740
				19,111,340

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Brokerage – 0.4%
$	1,670,000	Jefferies Group LLC, 6.250%, 1/15/2036	$	1,679,144
		Building Materials – 1.5%
	4,500,000	Cemex SAB de CV, 3.875%, 7/11/2031, 144A		3,375,000
	780,000	Cemex SAB de CV, (fixed rate to 6/08/2026, variable rate thereafter), 5.125%, 144A(f)		661,791
	360,000	JELD-WEN, Inc., 4.875%, 12/15/2027, 144A		280,800
	213,000	Masco Corp., 6.500%, 8/15/2032		229,180
	380,000	Masco Corp., 7.750%, 8/01/2029		429,037
	1,188,000	Owens Corning, 7.000%, 12/01/2036		1,327,422
				6,303,230
		Cable Satellite – 3.4%
	375,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.250%, 2/01/2031, 144A		307,946
	3,385,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.250%, 1/15/2034, 144A		2,614,913
	40,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 2.300%, 2/01/2032		30,265
	1,565,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 2.800%, 4/01/2031		1,253,342
	230,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 4.400%, 4/01/2033		205,353
	305,000	Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 3.700%, 4/01/2051		206,392
	2,655,000	Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 3.950%, 6/30/2062		1,773,630
	2,710,000	CSC Holdings LLC, 4.625%, 12/01/2030, 144A		1,812,285
	2,045,000	CSC Holdings LLC, 5.375%, 2/01/2028, 144A		1,768,925
	1,020,000	DISH DBS Corp., 5.125%, 6/01/2029		619,793
	2,215,000	DISH DBS Corp., 5.250%, 12/01/2026, 144A		1,736,206
	270,000	DISH DBS Corp., 7.750%, 7/01/2026		210,465
	375,000	Time Warner Cable LLC, 4.500%, 9/15/2042		292,733

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Cable Satellite – continued
$	1,500,000	Time Warner Cable LLC, 6.550%, 5/01/2037	$	1,501,912
				14,334,160
		Chemicals – 0.4%
	775,000	Ashland LLC, 3.375%, 9/01/2031, 144A		630,365
	200,000	Braskem Netherlands Finance BV, 4.500%, 1/31/2030, 144A		170,576
	705,000	Braskem Netherlands Finance BV, 5.875%, 1/31/2050, 144A		556,887
	200,000	INEOS Quattro Finance 2 PLC, 3.375%, 1/15/2026, 144A		167,948
	230,000	SPCM S.A., 3.125%, 3/15/2027, 144A		193,738
	210,000	SPCM S.A., 3.375%, 3/15/2030, 144A		164,325
				1,883,839
		Construction Machinery – 0.5%
	415,000	John Deere Capital Corp., MTN, 0.900%, 1/10/2024		400,587
	645,000	John Deere Capital Corp., MTN, 1.250%, 1/10/2025		611,631
	965,000	Toro Co. (The), 6.625%, 5/01/2037(d)(e)		1,031,305
				2,043,523
		Consumer Cyclical Services – 1.4%
	655,000	Expedia Group, Inc., 2.950%, 3/15/2031		520,986
	155,000	Expedia Group, Inc., 3.250%, 2/15/2030		129,267
	1,010,000	Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.500%, 3/01/2029, 144A		851,521
	2,965,000	Uber Technologies, Inc., 4.500%, 8/15/2029, 144A		2,438,712
	1,420,000	Uber Technologies, Inc., 6.250%, 1/15/2028, 144A		1,313,273
	390,000	Uber Technologies, Inc., 7.500%, 9/15/2027, 144A		377,824
	120,000	Uber Technologies, Inc., 8.000%, 11/01/2026, 144A		119,460
				5,751,043
		Consumer Products – 0.3%
	880,000	Avon Products, Inc., 8.450%, 3/15/2043		849,200
	730,000	Natura Cosmeticos S.A., 4.125%, 5/03/2028, 144A		601,082
				1,450,282

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Diversified Manufacturing – 0.3%
$	380,000	GE Capital Funding LLC, 4.550%, 5/15/2032	$	366,526
	757,000	GE Capital International Funding Co. Unlimited Co., 4.418%, 11/15/2035		707,035
	165,000	General Electric Co., Series D, 3-month LIBOR + 3.330%, 5.159%(b)(f)		144,573
				1,218,134
		Electric – 0.4%
	1,157,789	Alta Wind Holdings LLC, 7.000%, 6/30/2035, 144A		1,203,430
	255,000	Edison International, 4.950%, 4/15/2025		255,640
	100,000	Enel Finance International NV, 6.800%, 9/15/2037, 144A		110,434
	265,000	Pacific Gas & Electric Co., 5.450%, 6/15/2027		256,448
				1,825,952
		Finance Companies – 3.7%
	630,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.000%, 10/29/2028		530,661
	795,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.300%, 1/30/2032		636,391
	300,000	AGFC Capital Trust I, 3-month LIBOR + 1.750%, 2.794%, 1/15/2067, 144A(b)(d)(e)		170,739
	612,000	Air Lease Corp., 4.625%, 10/01/2028		565,935
	985,000	Air Lease Corp., Series B, (fixed rate to 6/15/2026, variable rate thereafter), 4.650%(f)		817,934
	460,000	Aircastle Ltd., (fixed rate to 6/15/2026, variable rate thereafter), 5.250%, 144A(f)		379,651
	2,290,000	Ares Capital Corp., 3.200%, 11/15/2031		1,663,929
	655,000	Barings BDC, Inc., 3.300%, 11/23/2026, 144A		568,161
	780,000	FS KKR Capital Corp., 3.125%, 10/12/2028		622,101
	815,000	FS KKR Capital Corp., 3.400%, 1/15/2026		723,354
	1,925,000	Navient Corp., MTN, 5.625%, 8/01/2033		1,335,963
	1,490,000	Owl Rock Capital Corp., 4.250%, 1/15/2026		1,370,579
	2,075,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.875%, 10/15/2026, 144A		1,714,801
	1,345,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/01/2029, 144A		1,057,600
	3,335,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/01/2031, 144A		2,498,882

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Finance Companies – continued
$	1,080,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 4.000%, 10/15/2033, 144A	$	766,800
				15,423,481
		Financial Other – 1.1%
	630,000	Agile Group Holdings Ltd., 6.050%, 10/13/2025		202,810
	200,000	Central China Real Estate Ltd., 7.250%, 4/24/2023		98,200
	205,000	Central China Real Estate Ltd., 7.250%, 7/16/2024		63,655
	200,000	Central China Real Estate Ltd., 7.250%, 8/13/2024		61,766
	200,000	Central China Real Estate Ltd., 7.500%, 7/14/2025		61,736
	200,000	CIFI Holdings Group Co. Ltd., 6.000%, 7/16/2025		119,100
	200,000	CIFI Holdings Group Co. Ltd., 6.450%, 11/07/2024		127,336
	600,000	Country Garden Holdings Co. Ltd., 3.300%, 1/12/2031		246,852
	2,510,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/01/2029		2,028,482
	1,285,000	Kaisa Group Holdings Ltd., 9.375%, 6/30/2024(g)		176,687
	200,000	Kaisa Group Holdings Ltd., 9.950%, 7/23/2025(g)		27,262
	200,000	Kaisa Group Holdings Ltd., 10.500%, 1/15/2025(g)		27,146
	1,810,000	Kaisa Group Holdings Ltd., 11.250%, 4/16/2025(g)		245,545
	400,000	Logan Group Co. Ltd., 4.250%, 7/12/2025		85,036
	400,000	Logan Group Co. Ltd., 4.850%, 12/14/2026		85,724
	840,000	Nationstar Mortgage Holdings, Inc., 5.500%, 8/15/2028, 144A		673,796
	405,000	Shimao Group Holdings Ltd., 3.450%, 1/11/2031(d)(e)		41,792
	425,000	Shimao Group Holdings Ltd., 5.600%, 7/15/2026(d)(e)		47,536
	200,000	Shimao Group Holdings Ltd., 6.125%, 2/21/2024(d)(e)		22,064
	410,000	Sunac China Holdings Ltd., 6.500%, 1/10/2025(g)		61,258
	230,000	Sunac China Holdings Ltd., 6.500%, 1/26/2026(g)		33,909
	445,000	Sunac China Holdings Ltd., 7.000%, 7/09/2025(g)		66,274
	200,000	Times China Holdings Ltd., 5.750%, 1/14/2027(d)(e)		26,218

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Financial Other – continued
$	400,000	Times China Holdings Ltd., 6.200%, 3/22/2026(d)(e)	$	57,940
	400,000	Yuzhou Group Holdings Co. Ltd., 6.350%, 1/13/2027(d)(e)(g)		26,000
	370,000	Yuzhou Group Holdings Co. Ltd., 7.700%, 2/20/2025(d)(e)(g)		27,350
	225,000	Yuzhou Group Holdings Co. Ltd., 8.300%, 5/27/2025(d)(e)(g)		16,315
				4,757,789
		Food & Beverage – 0.4%
	70,000	Darling Ingredients, Inc., 6.000%, 6/15/2030, 144A		69,765
	350,000	JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 3.000%, 2/02/2029, 144A		295,646
	625,000	Kraft Heinz Foods Co., 4.375%, 6/01/2046		520,669
	1,180,000	Pilgrim’s Pride Corp., 3.500%, 3/01/2032, 144A		925,085
	70,000	Pilgrim’s Pride Corp., 4.250%, 4/15/2031, 144A		58,414
				1,869,579
		Gaming – 1.1%
	925,000	Genm Capital Labuan Ltd., 3.882%, 4/19/2031, 144A		732,150
	385,000	GLP Capital LP/GLP Financing II, Inc., 3.250%, 1/15/2032		308,566
	410,000	Penn National Gaming, Inc., 4.125%, 7/01/2029, 144A		311,108
	1,460,000	Scientific Games International, Inc., 7.000%, 5/15/2028, 144A		1,370,108
	30,000	Scientific Games International, Inc., 7.250%, 11/15/2029, 144A		28,134
	680,000	VICI Properties LP/VICI Note Co., Inc., 4.250%, 12/01/2026, 144A		621,051
	575,000	VICI Properties LP/VICI Note Co., Inc., 4.500%, 9/01/2026, 144A		529,000
	505,000	VICI Properties LP/VICI Note Co., Inc., 4.625%, 6/15/2025, 144A		480,381
	415,000	VICI Properties LP/VICI Note Co., Inc., 5.625%, 5/01/2024, 144A		409,812
				4,790,310
		Government Owned - No Guarantee – 0.5%
	730,000	Antares Holdings LP, 3.750%, 7/15/2027, 144A		613,745
	570,000	EcoPetrol S.A., 4.625%, 11/02/2031		431,769
	870,000	Pertamina Persero PT, 6.450%, 5/30/2044, 144A		878,624

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Government Owned - No Guarantee – continued
$	200,000	Sino-Ocean Land Treasure IV Ltd., 4.750%, 8/05/2029	$	86,810
	400,000	Sino-Ocean Land Treasure IV Ltd., 4.750%, 1/14/2030		172,428
				2,183,376
		Health Insurance – 0.7%
	2,490,000	Centene Corp., 2.500%, 3/01/2031		1,976,462
	625,000	Centene Corp., 2.625%, 8/01/2031		497,188
	430,000	Molina Healthcare, Inc., 3.875%, 5/15/2032, 144A		360,592
				2,834,242
		Healthcare – 0.4%
	955,000	Avantor Funding, Inc., 3.875%, 11/01/2029, 144A		835,291
	700,000	HCA, Inc., 4.125%, 6/15/2029		638,250
	185,000	Tenet Healthcare Corp., 6.125%, 10/01/2028, 144A		158,319
				1,631,860
		Home Construction – 0.4%
	1,745,000	PulteGroup, Inc., 6.375%, 5/15/2033		1,795,848
		Independent Energy – 2.4%
	1,385,000	Aker BP ASA, 3.750%, 1/15/2030, 144A		1,240,775
	555,000	Continental Resources, Inc., 2.875%, 4/01/2032, 144A		433,411
	2,205,000	Continental Resources, Inc., 5.750%, 1/15/2031, 144A		2,132,103
	740,000	Energean Israel Finance Ltd., 5.375%, 3/30/2028, 144A		626,262
	965,000	Energean Israel Finance Ltd., 5.875%, 3/30/2031, 144A		784,062
	50,000	EQT Corp., 3.125%, 5/15/2026, 144A		46,816
	840,000	EQT Corp., 3.625%, 5/15/2031, 144A		725,810
	980,000	EQT Corp., 3.900%, 10/01/2027		911,978
	160,000	EQT Corp., 5.000%, 1/15/2029		154,893
	45,000	Occidental Petroleum Corp., 6.125%, 1/01/2031		45,604
	65,000	Occidental Petroleum Corp., 7.875%, 9/15/2031		71,337

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Independent Energy – continued
$	975,000	Occidental Petroleum Corp., 8.875%, 7/15/2030	$	1,119,376
	1,040,000	Ovintiv, Inc., 6.500%, 8/15/2034		1,085,483
	65,000	Ovintiv, Inc., 6.500%, 2/01/2038		67,077
	310,000	Ovintiv, Inc., 6.625%, 8/15/2037		325,234
	40,000	Ovintiv, Inc., 7.200%, 11/01/2031		43,735
	125,000	Ovintiv, Inc., 7.375%, 11/01/2031		137,416
	130,000	Southwestern Energy Co., 4.750%, 2/01/2032		111,088
				10,062,460
		Industrial Other – 0.1%
	395,000	TopBuild Corp., 4.125%, 2/15/2032, 144A		304,087
		Leisure – 0.7%
	620,000	Carnival Corp., 5.750%, 3/01/2027, 144A		447,814
	395,000	Carnival Corp., 6.000%, 5/01/2029, 144A		277,531
	770,000	NCL Corp. Ltd., 5.875%, 3/15/2026, 144A		604,365
	485,000	NCL Corp. Ltd., 5.875%, 2/15/2027, 144A		414,680
	280,000	NCL Finance Ltd., 6.125%, 3/15/2028, 144A		203,700
	140,000	Royal Caribbean Cruises Ltd., 4.250%, 7/01/2026, 144A		99,450
	1,195,000	Royal Caribbean Cruises Ltd., 5.500%, 4/01/2028, 144A		830,525
				2,878,065
		Life Insurance – 2.2%
	1,860,000	Athene Global Funding, 1.716%, 1/07/2025, 144A		1,735,585
	434,000	Brighthouse Financial, Inc., 4.700%, 6/22/2047		345,439
	1,745,000	Brighthouse Financial, Inc., 5.625%, 5/15/2030		1,694,300
	2,270,000	MetLife, Inc., 9.250%, 4/08/2068, 144A		2,667,040
	1,115,000	MetLife, Inc., 10.750%, 8/01/2069		1,478,970
	1,165,000	Penn Mutual Life Insurance Co. (The), 6.650%, 6/15/2034, 144A		1,233,327
				9,154,661

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Lodging – 0.8%
$	855,000	Hilton Domestic Operating Co., Inc., 3.625%, 2/15/2032, 144A	$	679,191
	200,000	Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, 4.875%, 7/01/2031, 144A		152,658
	685,000	Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, 5.000%, 6/01/2029, 144A		554,850
	530,000	Marriott Ownership Resorts, Inc., 4.500%, 6/15/2029, 144A		440,789
	620,000	Travel & Leisure Co., 4.500%, 12/01/2029, 144A		479,626
	870,000	Travel & Leisure Co., 4.625%, 3/01/2030, 144A		674,250
	110,000	Travel & Leisure Co., 6.000%, 4/01/2027		99,630
	125,000	Travel & Leisure Co., 6.625%, 7/31/2026, 144A		118,516
				3,199,510
		Media Entertainment – 1.3%
	24,000,000	Grupo Televisa SAB, EMTN, 7.250%, 5/14/2043, (MXN)		710,971
	470,000	iHeartCommunications, Inc., 8.375%, 5/01/2027		373,500
	300,000	Magallanes, Inc., 4.054%, 3/15/2029, 144A		275,031
	465,000	Magallanes, Inc., 4.279%, 3/15/2032, 144A		415,426
	185,000	Netflix, Inc., 4.875%, 4/15/2028		174,094
	1,510,000	Netflix, Inc., 4.875%, 6/15/2030, 144A		1,382,020
	200,000	Netflix, Inc., 5.375%, 11/15/2029, 144A		189,000
	915,000	Netflix, Inc., 5.875%, 11/15/2028		894,605
	1,185,000	Netflix, Inc., 6.375%, 5/15/2029		1,196,791
				5,611,438
		Metals & Mining – 2.3%
	1,910,000	Anglo American Capital PLC, 2.875%, 3/17/2031, 144A		1,589,253
	2,680,000	First Quantum Minerals Ltd., 6.875%, 10/15/2027, 144A		2,396,081
	615,000	First Quantum Minerals Ltd., 7.500%, 4/01/2025, 144A		581,459
	430,000	FMG Resources August 2006 Pty Ltd., 4.375%, 4/01/2031, 144A		350,940
	5,000	Freeport-McMoRan, Inc., 4.250%, 3/01/2030		4,550

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Metals & Mining – continued
$	2,080,000	Freeport-McMoRan, Inc., 5.400%, 11/14/2034	$	2,029,893
	2,905,000	Glencore Funding LLC, 2.850%, 4/27/2031, 144A		2,398,425
	215,000	Volcan Cia Minera SAA, 4.375%, 2/11/2026, 144A		187,157
				9,537,758
		Midstream – 1.0%
	530,000	DCP Midstream Operating LP, 3.250%, 2/15/2032		415,721
	10,000	DCP Midstream Operating LP, 5.125%, 5/15/2029		9,000
	575,000	DCP Midstream Operating LP, 6.450%, 11/03/2036, 144A		563,500
	1,040,000	Energy Transfer LP, 5.000%, 5/15/2044		871,062
	490,000	EnLink Midstream Partners LP, 4.150%, 6/01/2025		456,126
	245,000	Hess Midstream Operations LP, 4.250%, 2/15/2030, 144A		205,179
	285,000	Hess Midstream Operations LP, 5.625%, 2/15/2026, 144A		271,463
	95,000	NGPL PipeCo LLC, 7.768%, 12/15/2037, 144A		103,383
	395,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.000%, 1/15/2032		338,740
	100,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.875%, 2/01/2031		91,160
	105,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 5.500%, 3/01/2030		100,189
	170,000	Western Midstream Operating LP, 4.550%, 2/01/2030		147,050
	405,000	Western Midstream Operating LP, 5.300%, 3/01/2048		326,491
	80,000	Western Midstream Operating LP, 5.450%, 4/01/2044		66,491
	55,000	Western Midstream Operating LP, 5.500%, 8/15/2048		44,825
	230,000	Western Midstream Operating LP, 5.750%, 2/01/2050		184,704
				4,195,084
		Non-Agency Commercial Mortgage-Backed Securities – 1.9%
	710,000	BANK, Series 2021-BN35, Class AS, 2.457%, 6/15/2064		583,105
	740,000	BPR Trust, Series 2021-NRD, Class F, 1-month Term SOFR + 6.870%, 8.204%, 12/15/2023, 144A(b)		695,617
	240,000	Commercial Mortgage Pass Through Certificates, Series 2012-CR3, Class AM, 3.416%, 10/15/2045, 144A		238,850
	110,000	Commercial Mortgage Pass Through Certificates, Series 2012-LTRT, Class A2, 3.400%, 10/05/2030, 144A		105,909

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Non-Agency Commercial Mortgage-Backed Securities – continued
$	165,196	Commercial Mortgage Trust, Series 2012-LC4, Class B, 4.934%, 12/10/2044(a)	$	164,951
	185,000	Credit Suisse Mortgage Trust, Series 2014-USA, Class B, 4.185%, 9/15/2037, 144A		170,234
	100,000	Credit Suisse Mortgage Trust, Series 2014-USA, Class C, 4.336%, 9/15/2037, 144A		88,841
	200,000	Credit Suisse Mortgage Trust, Series 2014-USA, Class D, 4.373%, 9/15/2037, 144A		167,889
	258,410	Extended Stay America Trust, Series 2021-ESH, Class D, 1-month LIBOR + 2.250%, 3.575%, 7/15/2038, 144A(b)		249,325
	295,000	GS Mortgage Securities Corp. Trust, Series 2013-PEMB, Class A, 3.668%, 3/05/2033, 144A(a)		273,697
	315,000	GS Mortgage Securities Corp. Trust, Series 2013-PEMB, Class B, 3.668%, 3/05/2033, 144A(a)		279,460
	255,000	GS Mortgage Securities Trust, Series 2014-GC18, Class B, 4.885%, 1/10/2047(a)		233,453
	200,000	JPMorgan Chase Commercial Mortgage Securities Trust, Series 2012-C8, Class C, 4.934%, 10/15/2045, 144A(a)		199,566
	1,030,000	JPMorgan Chase Commercial Mortgage Securities Trust, Series 2012-LC9, Class C, 4.509%, 12/15/2047, 144A(a)		1,019,684
	100,000	JPMorgan Chase Commercial Mortgage Securities Trust, Series 2012-LC9, Class D, 4.509%, 12/15/2047, 144A(a)		98,416
	400,000	MedTrust, Series 2021-MDLN, Class C, 1-month LIBOR + 1.800%, 3.125%, 11/15/2038, 144A(b)		381,419
	105,000	Morgan Stanley Bank of America Merrill Lynch Commercial Mortgage Securities Trust, Series 2012-CKSV, Class A2, 3.277%, 10/15/2030, 144A		104,010
	535,000	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C11, Class A4, 4.295%, 8/15/2046(a)		532,413
	800,000	RBS Commercial Funding Trust, Series 2013-GSP, Class A, 3.961%, 1/15/2032, 144A(a)		787,220
	175,000	UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class BEC, 4.889%, 5/10/2063, 144A(a)		165,730
	165,355	UBS-Barclays Commercial Mortgage Trust, Series 2012-TFT, Class A, 2.892%, 6/05/2030, 144A		161,384
	285,000	Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class B, 4.434%, 7/15/2046(a)		267,262
	275,000	Wells Fargo Commercial Mortgage Trust, Series 2016-C36, Class B, 3.671%, 11/15/2059(a)		240,870
	380,000	WFRBS Commercial Mortgage Trust, Series 2013-C15, Class B, 4.670%, 8/15/2046(a)		361,680
	390,000	WFRBS Commercial Mortgage Trust, Series 2014-C20, Class B, 4.378%, 5/15/2047		369,511
				7,940,496
		Paper – 0.4%
	350,000	WestRock MWV LLC, 7.950%, 2/15/2031		417,858
	1,035,000	WestRock MWV LLC, 8.200%, 1/15/2030		1,232,952
				1,650,810

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Pharmaceuticals – 1.0%
$	165,000	Bausch Health Cos., Inc., 4.875%, 6/01/2028, 144A	$	129,119
	355,000	Bausch Health Cos., Inc., 5.000%, 1/30/2028, 144A		189,038
	35,000	Bausch Health Cos., Inc., 5.000%, 2/15/2029, 144A		18,200
	290,000	Bausch Health Cos., Inc., 5.250%, 1/30/2030, 144A		149,837
	915,000	Bausch Health Cos., Inc., 5.250%, 2/15/2031, 144A		468,274
	40,000	Bausch Health Cos., Inc., 6.250%, 2/15/2029, 144A		21,288
	65,000	Bausch Health Cos., Inc., 7.000%, 1/15/2028, 144A		37,213
	620,000	Teva Pharmaceutical Finance Co. LLC, 6.150%, 2/01/2036		518,326
	290,000	Teva Pharmaceutical Finance Netherlands III BV, 3.150%, 10/01/2026		237,800
	1,710,000	Teva Pharmaceutical Finance Netherlands III BV, 4.100%, 10/01/2046		1,064,902
	960,000	Teva Pharmaceutical Finance Netherlands III BV, 4.750%, 5/09/2027		819,953
	695,000	Teva Pharmaceutical Finance Netherlands III BV, 5.125%, 5/09/2029		572,506
				4,226,456
		Property & Casualty Insurance – 0.3%
	1,630,000	MBIA Insurance Corp., 3-month LIBOR + 11.260%, 12.304%, 1/15/2033, 144A(b)(d)(h)(i)(j)		199,675
	1,135,000	Stewart Information Services Corp., 3.600%, 11/15/2031		941,437
				1,141,112
		REITs - Diversified – 0.1%
	270,000	EPR Properties, 3.600%, 11/15/2031		213,428
		Retailers – 0.3%
	1,025,000	Dillard’s, Inc., 7.750%, 7/15/2026		1,044,424
		Technology – 2.6%
	1,070,000	Avnet, Inc., 5.500%, 6/01/2032		1,049,868
	735,000	Block, Inc., 3.500%, 6/01/2031, 144A		585,692
	550,000	Broadcom, Inc., 2.600%, 2/15/2033, 144A		422,899
	465,000	Broadcom, Inc., 4.150%, 11/15/2030		426,039
	75,000	CDW LLC/CDW Finance Corp., 2.670%, 12/01/2026		66,820

Principal         Amount (‡)			Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
			Technology – continued
$	195,000		CDW LLC/CDW Finance Corp., 3.250%, 2/15/2029	$	164,418
	1,825,000		CDW LLC/CDW Finance Corp., 3.569%, 12/01/2031		1,507,751
	45,000		CDW LLC/CDW Finance Corp., 4.250%, 4/01/2028		40,613
	1,820,000		CommScope, Inc., 4.750%, 9/01/2029, 144A		1,468,185
	1,295,000		Entegris Escrow Corp., 4.750%, 4/15/2029, 144A		1,205,941
	1,215,000		Iron Mountain, Inc., 4.875%, 9/15/2029, 144A		1,032,665
	290,000		MSCI, Inc., 3.250%, 8/15/2033, 144A		231,156
	145,000		NXP BV/NXP Funding LLC/NXP USA, Inc., 4.400%, 6/01/2027		142,742
	1,270,000		Oracle Corp., 3.950%, 3/25/2051		932,811
	615,000		Sensata Technologies BV, 4.000%, 4/15/2029, 144A		521,569
	825,000		Western Digital Corp., 2.850%, 2/01/2029		671,711
	75,000		Western Digital Corp., 3.100%, 2/01/2032		57,510
	625,000		Western Digital Corp., 4.750%, 2/15/2026		596,319
					11,124,709
			Treasuries – 19.2%
	148,957	(††)	Mexican Fixed Rate Bonds, Series M 30, 8.500%, 11/18/2038, (MXN)		702,315
	10,150,000		Republic of Brazil, 8.500%, 1/05/2024, (BRL)		1,792,631
	14,635,000		Republic of Brazil, 10.250%, 1/10/2028, (BRL)		2,564,498
	3,185,000		U.S. Treasury Note, 0.125%, 12/31/2022(k)		3,146,929
	20,545,000		U.S. Treasury Note, 0.125%, 4/30/2023(c)		20,082,738
	10,310,000		U.S. Treasury Note, 0.125%, 5/31/2023(c)		10,054,667
	15,495,000		U.S. Treasury Note, 0.125%, 7/31/2023(c)		15,030,150
	9,340,000		U.S. Treasury Note, 0.500%, 11/30/2023		9,022,586
	12,585,000		U.S. Treasury Note, 0.875%, 1/31/2024		12,177,954
	6,710,000		U.S. Treasury Note, 1.500%, 2/29/2024		6,551,948
					81,126,416

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Non-Convertible Bonds – continued
		Wireless – 3.0%
	72,400,000	America Movil SAB de CV, 6.450%, 12/05/2022, (MXN)	$	3,546,284
	585,000	IHS Holding Ltd., 5.625%, 11/29/2026, 144A		479,138
	935,000	SBA Communications Corp., 3.125%, 2/01/2029		765,298
	600,000	SoftBank Group Corp., 4.625%, 7/06/2028		465,000
	210,000	SoftBank Group Corp., 5.250%, 7/06/2031		154,829
	150,000	T-Mobile USA, Inc., 2.400%, 3/15/2029		129,536
	265,000	T-Mobile USA, Inc., 2.700%, 3/15/2032		222,331
	3,275,000	T-Mobile USA, Inc., 3.375%, 4/15/2029		2,865,625
	1,620,000	T-Mobile USA, Inc., 3.500%, 4/15/2031		1,398,757
	2,965,000	T-Mobile USA, Inc., 3.875%, 4/15/2030		2,767,104
				12,793,902
		Total Non-Convertible Bonds (Identified Cost $381,290,406)		328,943,823
	Convertible Bonds – 3.5%
		Airlines – 0.4%
	245,000	JetBlue Airways Corp., 0.500%, 4/01/2026		180,198
	1,160,000	Southwest Airlines Co., 1.250%, 5/01/2025		1,365,900
				1,546,098
		Cable Satellite – 0.9%
	15,000	Cable One, Inc., Zero Coupon, 6.042%, 3/15/2026(l)		12,360
	1,055,000	DISH Network Corp., 2.375%, 3/15/2024		928,400
	4,100,000	DISH Network Corp., 3.375%, 8/15/2026		2,769,550
	75,000	DISH Network Corp., Zero Coupon, 6.944%-9.514%, 12/15/2025(m)		52,682
				3,762,992
		Consumer Cyclical Services – 0.3%
	90,000	Peloton Interactive, Inc., Zero Coupon, 0.519%-0.799%, 2/15/2026(m)		57,731
	1,270,000	Uber Technologies, Inc., Zero Coupon, 0.000%-5.582%, 12/15/2025(m)		1,014,883
				1,072,614

Principal         Amount (‡)		Description	Value (†)
	Bonds and Notes – continued
	Convertible Bonds – continued
		Gaming – 0.1%
$	215,000	Penn National Gaming, Inc., 2.750%, 5/15/2026	$	318,480
		Healthcare – 0.4%
	2,405,000	Teladoc Health, Inc., 1.250%, 6/01/2027		1,761,662
		Leisure – 0.2%
	1,280,000	NCL Corp. Ltd., 1.125%, 2/15/2027, 144A		821,120
		Media Entertainment – 0.2%
	575,000	Snap, Inc., Zero Coupon, 6.709%-7.114%, 5/01/2027(m)		398,187
	540,000	Spotify USA, Inc., Zero Coupon, 5.189%-5.873%, 3/15/2026(m)		426,060
	205,000	Twitter, Inc., Zero Coupon, 0.000%, 3/15/2026(l)		181,438
				1,005,685
		Pharmaceuticals – 0.9%
	820,000	BioMarin Pharmaceutical, Inc., 0.599%, 8/01/2024		811,800
	2,205,000	BioMarin Pharmaceutical, Inc., 1.250%, 5/15/2027		2,191,329
	580,000	Ionis Pharmaceuticals, Inc., Zero Coupon, 0.000%, 4/01/2026(l)		527,394
	485,000	Livongo Health, Inc., 0.875%, 6/01/2025		411,086
				3,941,609
		Technology – 0.1%
	35,000	Bentley Systems, Inc., 0.375%, 7/01/2027, 144A		27,125
	95,000	RingCentral, Inc., Zero Coupon, 7.146%-7.470%, 3/15/2026(m)		71,345
	465,000	Splunk, Inc., 1.125%, 6/15/2027		383,625
	20,000	Unity Software, Inc., Zero Coupon, 7.592%, 11/15/2026, 144A(l)		14,700
				496,795
		Total Convertible Bonds (Identified Cost $18,838,580)		14,727,055
	Municipals – 0.9%
		Virginia – 0.9%
	3,865,000	Tobacco Settlement Financing Corp., Series A-1, 6.706%, 6/01/2046 (Identified Cost $3,848,381)		3,590,043
		Total Bonds and Notes (Identified Cost $403,977,367)		347,260,921

Principal         Amount (‡)		Description	Value (†)
	Senior Loans – 0.4%
		Cable Satellite – 0.1%
$	284,569	DirecTV Financing LLC, Term Loan, 1-month LIBOR + 5.000%, 6.666%, 8/02/2027(b)(n)	$	261,211
		Independent Energy – 0.3%
	1,282,000	Ascent Resources - Utica, 2020 Fixed 2nd Lien Term Loan, 3-month LIBOR + 9.000%, 10.021%, 11/01/2025(b)(o)		1,343,959
		Total Senior Loans (Identified Cost $1,566,839)		1,605,170
	Collateralized Loan Obligations – 3.2%
	555,000	522 Funding CLO Ltd., Series 2021-7A, Class D, 3-month LIBOR + 2.900%, 4.084%, 4/23/2034, 144A(b)		494,042
	1,090,000	AIG CLO LLC, Series 2021-1A, Class D, 3-month LIBOR + 2.950%, 4.086%, 4/22/2034, 144A(b)		993,097
	1,005,000	AIMCO CLO Ltd., Series 2017-AA, Class DR, 3-month LIBOR + 3.150%, 4.213%, 4/20/2034, 144A(b)		918,617
	1,940,000	AIMCO CLO Ltd., Series 2021-14A, Class D, 3-month LIBOR + 2.900%, 3.963%, 4/20/2034, 144A(b)		1,693,013
	2,100,000	Ares XLII CLO Ltd., Series 2017-42A, Class BR, 3-month LIBOR + 1.500%, 2.636%, 1/22/2028, 144A(b)(c)		2,034,490
	255,000	Atrium XV, Series 15A, Class D, 3-month LIBOR + 3.000%, 4.184%, 1/23/2031, 144A(b)		240,681
	370,000	Carlye U.S. CLO Ltd., Series 2018-4A, Class C, 3-month LIBOR + 2.900%, 3.963%, 1/20/2031, 144A(b)		331,992
	305,000	CarVal CLO I Ltd., Series 2018-1A, Class D, 3-month LIBOR + 2.890%, 3.934%, 7/16/2031, 144A(b)		276,706
	503,000	CIFC Funding Ltd., Series 2018-1A, Class D, 3-month LIBOR + 2.650%, 3.694%, 4/18/2031, 144A(b)		463,956
	340,000	Elmwood CLO VIII Ltd., Series 2021-1A, Class D2, 3-month LIBOR + 2.850%, 3.913%, 1/20/2034, 144A(b)		314,749
	365,000	Invesco CLO Ltd., Series 2021-1A, Class D,, 3-month LIBOR + 3.050% 4.094%, 4/15/2034, 144A(b)		328,504
	500,000	Madison Park Funding XXXI Ltd., Series 2018-31A, Class D, 3-month LIBOR + 3.000%, 4.184%, 1/23/2031, 144A(b)		472,761
	1,930,000	Oaktree CLO Ltd., Series 2019-2A, Class BR, 3-month LIBOR + 2.700%, 3.744%, 4/15/2031, 144A(b)		1,856,384
	255,000	OCP CLO Ltd., Series 2018-15A, Class C, 3-month LIBOR + 2.950%, 4.013%, 7/20/2031, 144A(b)		225,589
	1,835,000	OZLM XXIII Ltd., Series 2019-23A, Class DR, 3-month LIBOR + 3.750%, 4.794%, 4/15/2034, 144A(b)		1,740,499
	285,000	Parallel Ltd., Series 2015-1A, Class DR, 3-month LIBOR + 2.550%, 3.613%, 7/20/2027, 144A(b)		271,177
	250,000	Recette CLO Ltd., Series 2015-1A, Class DRR, 3-month LIBOR + 3.250%, 4.313%, 4/20/2034, 144A(b)		217,245
	575,000	Sixth Street CLO XVIII Ltd., Series 2021-18A, Class D, 3-month LIBOR + 2.900%, 3.963%, 4/20/2034, 144A(b)		530,729
		Total Collateralized Loan Obligations (Identified Cost $14,438,298)		13,404,231

Shares		Description	Value (†)
	Common Stocks – 5.1%
		Aerospace & Defense – 0.2%
	351	L3Harris Technologies, Inc.	$	84,837
	1,441	Lockheed Martin Corp.		619,572
				704,409
		Air Freight & Logistics – 0.1%
	2,580	United Parcel Service, Inc., Class B		470,953
		Beverages – 0.1%
	8,951	Coca-Cola Co. (The)		563,108
		Biotechnology – 0.2%
	4,648	AbbVie, Inc.		711,888
		Capital Markets – 0.2%
	911	BlackRock, Inc.		554,836
	5,339	Morgan Stanley		406,084
				960,920
		Communications Equipment – 0.1%
��	10,229	Cisco Systems, Inc.		436,165
		Electric Utilities – 0.3%
	4,273	Duke Energy Corp.		458,108
	7,574	NextEra Energy, Inc.		586,682
				1,044,790
		Food & Staples Retailing – 0.1%
	4,365	Walmart, Inc.		530,697
		Health Care Equipment & Supplies – 0.1%
	3,303	Abbott Laboratories		358,871
		Health Care Providers & Services – 0.2%
	754	Elevance Health, Inc.		363,865
	549	UnitedHealth Group, Inc.		281,983
				645,848
		Hotels, Restaurants & Leisure – 0.1%
	6,930	Starbucks Corp.		529,383
		Household Products – 0.1%
	4,227	Procter & Gamble Co. (The)		607,800
		IT Services – 0.1%
	1,523	Accenture PLC, Class A		422,861
		Life Sciences Tools & Services – 0.1%
	431	Thermo Fisher Scientific, Inc.		234,154
		Machinery – 0.2%
	1,772	Cummins, Inc.		342,935
	1,170	Deere & Co.		350,380
				693,315

Shares		Description	Value (†)
	Common Stocks – continued
		Media – 0.5%
	138,910	Altice USA, Inc., Class A(i)	$	1,284,918
	15,535	Comcast Corp., Class A		609,593
	34,625	iHeartMedia, Inc., Class A(i)		273,191
				2,167,702
		Metals & Mining – 0.1%
	7,178	Newmont Corp.		428,311
		Oil, Gas & Consumable Fuels – 0.2%
	939	Battalion Oil Corp.(i)		8,010
	2,044	Pioneer Natural Resources Co.		455,975
	12,128	Williams Cos., Inc. (The)		378,515
				842,500
		Pharmaceuticals – 0.5%
	6,223	Bristol-Myers Squibb Co.		479,171
	4,241	Johnson & Johnson		752,820
	9,200	Merck & Co., Inc.		838,764
				2,070,755
		Professional Services – 0.0%
	456	Clarivate PLC(i)		6,320
		REITs - Diversified – 0.1%
	2,185	American Tower Corp.		558,464
		Road & Rail – 0.1%
	2,282	Union Pacific Corp.		486,705
		Semiconductors & Semiconductor Equipment – 0.2%
	585	Broadcom, Inc.		284,199
	5,632	Microchip Technology, Inc.		327,106
	2,478	QUALCOMM, Inc.		316,540
				927,845
		Software – 0.1%
	2,134	Microsoft Corp.		548,075
		Specialty Retail – 0.1%
	1,224	Home Depot, Inc. (The)		335,707
		Technology Hardware, Storage & Peripherals – 0.1%
	3,413	Apple, Inc.		466,625
		Wireless Telecommunication Services – 0.9%
	27,439	T-Mobile US, Inc.(i)		3,691,643
		Total Common Stocks (Identified Cost $22,599,134)		21,445,814

Shares		Description	Value (†)
	Preferred Stocks – 1.2%
	Convertible Preferred Stocks – 1.1%
		Banking – 0.5%
	1,109	Bank of America Corp., Series L, 7.250%	$	1,335,791
	834	Wells Fargo & Co., Class A, Series L, 7.500%		1,013,735
				2,349,526
		Midstream – 0.1%
	5,333	El Paso Energy Capital Trust I, 4.750%		247,718
		Technology – 0.1%
	8,046	Clarivate PLC, Series A, 5.250%		460,344
		Wireless – 0.4%
	1,413	2020 Cash Mandatory Exchangeable Trust, 5.250%, 144A(d)(e)		1,620,146
		Total Convertible Preferred Stocks (Identified Cost $5,432,621)		4,677,734
	Non-Convertible Preferred Stocks – 0.1%
		Electric – 0.1%
	4,670	Union Electric Co., 4.500% (Identified Cost $246,343)		396,997
		Total Preferred Stocks (Identified Cost $5,678,964)		5,074,731

Principal         Amount (‡)
	Short-Term Investments – 7.6%
$	3,804,247	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/2022 at 0.350% to be repurchased at $3,804,284 on 7/01/2022 collateralized by $3,862,900 U.S. Treasury Note, 3.250% due 6/30/2027 valued at $3,880,403 including accrued interest(p)		3,804,247
	17,510,000	U.S. Treasury Bills, 0.800%-0.809%, 7/21/2022(q)(r)		17,500,126
	4,400,000	U.S. Treasury Bills, 0.769%, 7/14/2022(r)		4,398,308
	6,515,000	U.S. Treasury Bills, 0.884%, 8/11/2022(r)		6,505,447
		Total Short-Term Investments (Identified Cost $32,213,657)		32,208,128
		Total Investments – 99.9% (Identified Cost $480,474,259)		420,998,995
		Other assets less liabilities – 0.1%		611,708
		Net Assets – 100.0%	$	421,610,703

(†) Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:

Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers.

Senior loans and collateralized loan obligations are valued at bid prices supplied by an independent pricing service, if available.

Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available.

In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used.

Broker-dealer bid prices may be used to value debt and unlisted equity securities and senior loans and collateralized loan obligations where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security.

Forward foreign currency contracts are valued utilizing interpolated rates determined based on information provided by an independent pricing service.

Futures contracts are valued at the most recent settlement price on the exchange on which the adviser believes that, over time, they are traded most extensively.

Centrally cleared swap agreements are valued at settlement prices of the clearing house on which the contracts were traded or prices obtained from broker-dealers.

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

Illiquid securities for which market quotations are readily available and have been evaluated by the adviser are considered and classified as fair valued securities pursuant to the Fund’s pricing policies and procedures.

As of June 30, 2022, securities held by the Fund were fair valued as follows:

Securities classified as fair valued		Percentage of Net Assets			Securities fair valued by the Fund’s adviser		Percentage of Net Assets
$	3,904,937		0.9	%	$	199,675	Less than 0.1%

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

(‡) Principal Amount stated in U.S. dollars unless otherwise noted.

(††) Amount shown represents units. One unit represents a principal amount of 100.

(a) Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments on underlying pools of assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending rate adjusted by a multiplier and/or subject to certain floors or caps. Rate as of June 30, 2022 is disclosed.

(b) Variable rate security. Rate as of June 30, 2022 is disclosed.

(c) Security (or a portion thereof) has been designated to cover the Fund’s obligations under open derivative contracts.

(d) Illiquid security.

(e) Securities classified as fair valued pursuant to the Fund’s pricing policies and procedures. At June 30, 2022, the value of these securities amounted to $3,904,937 or 0.9% of net assets.

(f) Perpetual bond with no specified maturity date.

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

(h) Fair valued by the Fund’s adviser. At June 30, 2022, the value of this security amounted to $199,675 or less than 0.1% of net assets.

(i) Non-income producing security.

(j) Level 3 security. Value has been determined using significant unobservable inputs.

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

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

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

(n) Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum benchmark rate (LIBOR floor) of 0.75%, to which the spread is added.

(o) Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum benchmark rate (LIBOR floor) of 1.00%, to which the spread is added.

(p) The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund’s policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund’s ability to dispose of the underlying securities. As of June 30, 2022, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.

(q) The Fund’s investment in U.S. Government/Agency securities is comprised of various lots with differing discount rates. These separate investments, which have the same maturity date, have been aggregated for the purpose of presentation in the Portfolio of Investments.

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

144A All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2022, the value of Rule 144A holdings amounted to $151,063,782 or 35.8% of net assets.

ABS Asset-Backed Securities

EMTN Euro Medium Term Note

LIBOR London Interbank Offered Rate

MTN Medium Term Note

REITs Real Estate Investment Trusts

SOFR Secured Overnight Financing Rate

BRL Brazilian Real

MXN Mexican Peso

Swap Agreements

The Fund may enter into credit default and interest rate swaps. A credit default swap is an agreement between two parties (the “protection buyer” and “protection seller”) to exchange the credit risk of an issuer (“reference obligation”) for a specified time period. The reference obligation may be one or more debt securities or an index of such securities. The Fund may be either the protection buyer or the protection seller. As a protection buyer, the Fund has the ability to hedge the downside risk of an issuer or group of issuers. As a protection seller, the Fund has the ability to gain exposure to an issuer or group of issuers whose bonds are unavailable or in short supply in the cash bond market, as well as realize additional income in the form of fees paid by the protection buyer. The protection buyer is obligated to pay the protection seller a stream of payments (“fees”) over the term of the contract, provided that no credit event, such as a default or a downgrade in credit rating, occurs on the reference obligation. The Fund may also pay or receive upfront premiums. If a credit event occurs, the protection seller must pay the protection buyer the difference between the agreed upon notional value and market value of the reference obligation. Market value in this case is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the value. The maximum potential amount of undiscounted future payments that a Fund as the protection seller could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement.

Implied credit spreads, represented in absolute terms, are disclosed in the Portfolio of Investments for those agreements for which the Fund is the protection seller. Implied credit spreads serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular reference entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the reference entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

An interest rate swap is an agreement with another party to receive or pay interest (e.g., an exchange of fixed rate payments for floating rate payments) to protect themselves from interest rate fluctuations. This type of swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to a specified interest rate(s) for a specified notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other.

Swap agreements are valued daily and fluctuations in the value are recorded as change in unrealized appreciation (depreciation) on swap agreements. Fees are accrued in accordance with the terms of the agreement and are recorded as part of unrealized appreciation (depreciation) on swap agreements. When received or paid, fees are recorded as realized gain or loss. Upfront premiums paid or received by the Fund are recorded as an asset or liability, respectively, and are amortized or accreted over the term of the agreement and recorded as realized gain or loss. Payments made or received by the Fund as a result of a credit event or termination of the agreement are recorded as realized gain or loss.

Swap agreements are privately negotiated in the over-the-counter (“OTC”) market and may be entered into as a bilateral contract or centrally cleared (“centrally cleared swaps”). Bilateral swap agreements are traded between counterparties and, as such, are subject to the risk that a party to the agreement will not be able to meet its obligations. 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 faces the CCP through a broker. Upon entering into a centrally cleared swap, the Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Subsequent payments, known as “variation margin,” are made or received by the Fund based on the daily change in the value of the centrally cleared swap agreement. For centrally cleared swaps, the Fund’s counterparty credit risk is reduced as the CCP stands between the Fund and the counterparty. The Fund covers its net obligations under outstanding swap agreements by segregating or earmarking cash or securities.

At June 30, 2022, the Fund had the following open centrally cleared credit default swap agreements:

Sell Protection

Reference Obligation	(Pay)/ Receive Fixed Rate			Expiration Date	Implied Credit Spread^			Notional Value(‡)		Unamortized Up Front Premium Paid/(Received)			Market Value			Unrealized Appreciation (Depreciation)
CDX.NA HY* Series 38 500, 5-Year		5.00	%	6/20/2027		5.78	%		2,316,600	$	(50,998	)	$	(66,554	)	$	(15,556	)
CDX.NA HY* Series 38 500, 5-Year		5.00	%	6/20/2027		5.78	%		970,200		(25,222	)		(27,873	)		(2,651	)
CDX.NA HY* Series 38 500, 5-Year		5.00	%	6/20/2027		5.78	%		970,200		(22,710	)		(27,873	)		(5,163	)
Total													$	(122,300	)	$	(23,370	)

(‡) Notional value stated in U.S. dollars unless otherwise noted.

^ Implied credit spreads, represented in absolute terms, serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular reference entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the reference entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

* CDX.NA.HY is an index composed of North American high yield credit default swaps.

Futures Contracts

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

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

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

At June 30, 2022, open long futures contracts were as follows:

Financial Futures	Expiration Date	Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Ultra Long U.S. Treasury Bond	9/21/2022		36	$	5,705,528	$	5,556,375	$	(149,153	)

At June 30, 2022, open short futures contracts were as follows:

Financial Futures	Expiration Date	Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Ultra 10 Year U.S. Treasury Note	9/21/2022		49	$	6,353,228	$	6,241,375	$	111,853

Fair Value Measurements

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

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

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

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

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

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2022, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3			Total
Bonds and Notes
Non-Convertible Bonds
Property & Casualty Insurance	$	—	$	941,437	$	199,675	(a)	$	1,141,112
All Other Non-Convertible Bonds*		—		327,802,711		—			327,802,711
Total Non-Convertible Bonds		—		328,744,148		199,675			328,943,823
Convertible Bonds*		—		14,727,055		—			14,727,055
Municipals*		—		3,590,043		—			3,590,043
Total Bonds and Notes		—		347,061,246		199,675			347,260,921
Senior Loans*		—		1,605,170		—			1,605,170
Collateralized Loan Obligations		—		13,404,231		—			13,404,231
Common Stocks*		21,445,814		—		—			21,445,814
Preferred Stocks
Convertible Preferred Stocks
Wireless		—		1,620,146		—			1,620,146
All Other Convertible Preferred Stocks*		3,057,588		—		—			3,057,588
Total Convertible Preferred Stocks		3,057,588		1,620,146		—			4,677,734
Non-Convertible Preferred Stocks*		—		396,997		—			396,997
Total Preferred Stocks		3,057,588		2,017,143		—			5,074,731
Short-Term Investments		—		32,208,128		—			32,208,128
Total Investments		24,503,402		396,295,918		199,675			420,998,995
Futures Contracts (unrealized appreciation)		111,853		—		—			111,853
Total	$	24,615,255	$	396,295,918	$	199,675		$	421,110,848

Liability Valuation Inputs

Description	Level 1			Level 2			Level 3		Total
Centrally Cleared Credit Default Swap Agreements (unrealized depreciation)	$	—		$	(23,370	)	$	—	$	(23,370	)
Futures Contracts (unrealized depreciation)		(149,153	)		—			—		(149,153	)
Total	$	(149,153	)	$	(23,370	)	$	—	$	(172,523	)

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

(a) Fair valued by the Fund’s adviser.

The Fund’s pricing policies and procedures are recommended by the adviser and approved by the Board of Trustees. Debt securities are valued based on evaluated bids furnished to the Fund by an independent pricing service. Broker-dealer bid prices may be used if an independent pricing service either is unable to price a security or does not provide a reliable price for a security. The Fund’s adviser may use internally developed models to validate broker-dealer bid prices that are only available from a single broker or market maker. Such securities are considered and classified as fair valued. Broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer are categorized in Level 3. Securities for which market quotations are not readily available are valued at fair value as determined in good faith by the Fund’s adviser pursuant to procedures approved by the Board of Trustees. Fair valued securities may be categorized in Level 3.

The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value as of September 30, 2021 and/or June 30, 2022:

Asset Valuation Inputs

Investments in Securities	Balance as of September 30, 2021		Accrued Discounts (Premiums)		Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Purchases		Sales			Transfers into Level 3		Transfers out of Level 3			Balance as of June 30, 2022		Change in Unrealized Appreciation (Depreciation) from Investments Still Held at June 30, 2022
Bonds and Notes
Non-Convertible Bonds
ABS Other	$	185,168	$	—	$	(1,154,382	)	$	1,155,884		$	—	$	(26,589	)	$	—	$	(160,081	)	$	—	$	—
Property & Casualty Insurance		281,175		5,627		—			(87,127	)		—		—			—		—			199,675		(87,127	)
Total	$	466,343	$	5,627	$	(1,154,382	)	$	1,068,757		$	—	$	(26,589	)	$	—	$	(160,081	)	$	199,675	$	(87,127	)

A debt security valued at $160,081 was transferred from Level 3 to Level 2 during the period ended June 30, 2022. At September 30, 2021, this security was valued using broker-dealer bid prices based on inputs unobservable to the Fund as an independent pricing service was unable to price the security. At June 30, 2022, this security was valued on the basis of evaluated bids furnished to the Fund by an independent pricing service in accordance with the Fund’s valuation policies.

Derivatives

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

The Fund is subject to the risk that companies in which the Fund invests will fail financially or otherwise be unwilling or unable to meet their obligations to the Fund. The Fund may use credit default swaps, as a protection buyer, to hedge its credit exposure to issuers of bonds it holds without having to sell the bonds. The Fund may also use credit default swaps, as a protection seller, to gain investment exposure. As of June 30, 2022, the Fund engaged in credit default swap agreements (as a protection seller) to gain investment exposure.

The Fund is subject to the risk that changes in interest rates will affect the value of the Fund’s investments in fixed income securities. The Fund will be subject to increased interest rate risk to the extent that it invests in fixed-income securities with longer maturities or durations, as compared to investing in fixed-income securities with shorter maturities or durations. The Fund may use futures contracts to hedge against changes in interest rates and to manage duration without having to buy or sell portfolio securities. As of June 30, 2022, the Fund used futures contracts to manage duration.

The following is a summary of derivative instruments for the Fund, as of June 30, 2022:

Assets	Unrealized appreciation futures contracts
Exchange-traded/cleared asset derivatives
Interest rate contracts	$	111,853

Liabilities	Unrealized depreciation on futures contracts			Swap agreements at value
Exchange-traded/cleared liability derivatives
Interest rate contracts	$	(149,153	)	$	—
Credit contracts		—			(122,300	)
Total liability derivatives	$	(149,153	)	$	(122,300	)

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

Counterparty risk is managed based on policies and procedures established by the Fund’s adviser. Such policies and procedures may include, but are not limited to, minimum counterparty credit rating requirements, monitoring of counterparty credit default swap spreads and posting of collateral. With exchange traded derivatives, there is minimal counterparty credit risk to the Fund because the exchange’s clearing house, as counterparty to these instruments, stands between the buyer and the seller of the contract. Credit risk still exists in exchange traded derivatives with respect to initial and variation margin that is held in a broker’s customer accounts. While brokers typically are required to segregate customer margin for exchange-traded derivatives from their own assets, in the event that a broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the broker for all its customers, U.S. bankruptcy laws will typically allocate that shortfall on a pro rata basis across all of the broker’s customers, potentially resulting in losses to the Fund. The following table shows the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the Fund would incur if parties (including brokers holding margin for exchange-traded derivatives) to the relevant financial instruments failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the Fund, as of June 30, 2022:

Maximum Amount of Loss - Gross		Maximum Amount of Loss - Net
$	1,990,814	$	1,990,814

Industry Summary at June 30, 2022 (Unaudited)

Treasuries	19.2	%
Banking	5.0
ABS Home Equity	4.9
Cable Satellite	4.4
ABS Car Loan	3.8
Finance Companies	3.7
Wireless	3.4
ABS Other	2.9
Technology	2.8
Independent Energy	2.7
Pharmaceuticals	2.4
Metals & Mining	2.4
Life Insurance	2.2
Other Investments, less than 2% each	29.3
Short-Term Investments	7.6
Collateralized Loan Obligations	3.2
Total Investments	99.9
Other assets less liabilities (including swap agreements and futures contracts)	0.1
Net Assets	100.0	%